2022-08-31-accounts

ARDINGLY College Worfd Ready A rdinglj College Limzted DIRECTORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022 *A81OXHS4' 0711212022 COMPANIES HOUSE A23

77

Charity Registration No: 01076456 Company Registration No. 03779971 (England and Wales)

Charity Regi$tratk*n No. 01076456 Company R•glstr4Oon No. 03779971 (England and Wales) ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022

ARDINGLY COLLEGE LIMITED CONTEMrs Company irrf(Thation Directors, report (incorp￿ting the Strategic repcKI} Independent audltor's repTht Financial statements of the company 23 27

ARDINGLY COLLEGE UMITED COMPANY INFORMATION DIRECTORSAND ADVISORS Dlroctors R Haynes 8r<Mm (Chairl S Bradshaw S L Champkin Gw￿xOn D H T Johnson•Pc*ns SKay L E Lindsay J Martin R IAartin K E C Sweeney Secretary S Koziarski Charlty No. Company N 01076456 03779971 Prlnclpal Address and Regl$tor￿ Offl¢• Ardir¥Jy Col Collep Ro•J A￿1￿jIY Haywards Heath West Sussex RH17 6SQ Key Managemènt P•rnonn•l Head of Coll•g• and S•nlor School B A Fwjgis Head of Prep S¢hool H HastiTr? Stnlor D¢puty Hoad- Sonlor Sthool N Bums Audllor RSM UK Aud(t LLP Poruand 25 HKJh Street Crawley West Sussex RH10 1BG

ARDINGLY COLLEGE LIMITED COMPANY INFORMATION Bankers Lknyds 8ank plc 101 Styjth Road Ha￿ardS Heath West Sussex RH16 4ND Prfn¢lpal Solicitors Krmghts plc The Brampton Staffordshire STS OQW Insvran¢e Brokers Marsh Linited 1 Tower Place West Tower Pla LoThlon EC3R 5BU

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (incorporating the Strateglc Report) YEAR ENDED 31ST AUGUST2022 The direclors present their report and financial statements {induding the Directo￿. and Strategic Reports) for Ihe year ended 31st August 2022 confimi they compty with the requirements of the Companies Act 2(#)6 and the Ac(x)untsng and RekNxting by Charities state￿￿t of Recommended Practice applicab[6 to charities preparing their financyal slalements in accordance with the Financial Report Standard applicable n the UK and Republic of Ireland {FRS 102) effeclNO January 2019. REFERENCE AND ADhllNISTRATIVE INFORMATION The charity was formed in 1858 aThJ is registered wth the Chaiity Commisslon as charlty number 01076456. The charity is a limited liabllty company and vthdly owned subsidiary of Tho Woodard CorKK)ration (charity number01096270). The charitsble company is incorForated in the United Kingdom. Directors of the Company are also Fellows (members) of the Woodar(I Corporation and participate in the election of its trt)ard of mana9ement and are cg)mmitted to its chafitable obj9cts. Note 31 provides details of connectsd charib8s. STrUCTUR& GOVERNANCE AND MANAGEMENT Governlng Document The Company is govemed by AJtides of Assoaation as ad¢Jpted by SF>e¢ial Resolution d8led 20th March 2013. ￿p1a￿n9 ￿se dated 6 July 2005 amended by Spea'al Resolution dated 25 January 2006. They pamiil funds to be managed in such a manner as the directors see fit. E￿o¥1ded that Such powers are only 8x8rcised for the purposes of attaining the objects and in a manner vthich is legally charitable. The Artides ofAswiation fO￿ld the distribution ofany propety orfunds. whth are to be applied solely towards Ihe wonM)tion ofthe oi¥eds of the company. Governing Body The Govemors are Ihe dwectors and charitable trustees 01 th8 company and comprise the goveming body of Ardingly College and are elected to hold office for terms of five years. The College is governed by the goveming body wh￿h operates using a number Ofc￿￿mittee$. Memborship of eath wmmlttge 15 Qutlined on page 21. The governing body rnet three twnes during the year. Recruhment and Trnlnlng of Governors All Govemors are Corporate Feltows of the WocJard Corporat￿. Ctrwale Fellows a￿ responstblg for electing the w¢￿ard Corporal)n Board. G¢)vemors a￿ rermited on the basis of nominations from school contscts and from sewion when a FM)sl be￿Me$ 8vai18ble. The goveming body look to ensure a mix of skills and select new govemors on the basis of background. competence, specialist skills and. wi the case of Fellows. Christian corrwnitment. Govemors are provided with induction train￿9 by the Head arKI Clerk to the Govemors and a wder programme cl training events rs organised by the Woodard Corporation. The sthcd a150 encourdges govemws to atteThJ events run by ts Association of Governing Bodies of Independent Sth¢)￿s {AG8IS). Vlhere possible the Govemors ctsismyer Ihat the skills arKI experience of the Council comprise the following.. accountsry. financial managemenL risk management. investrnenls. marketing. PRladvertising. HRltraining. IT strategy. education, charity govemance. insurance. fundraising. anning. construCt￿n. heamh & safety. tegal and safeguarding. A Governor may have c￿e or Thvjre of these skRIs. Volunteers Govemors are Volunteer5 providiTrJ their time for free to SUPFth the govemance of the School. The school also relies on a number of others to undertake vdunteer roles Including School Friends Association memtrH5: Work ExPerfer￿e; Classr(¥)m swrt and Solar Car asslstance. '

ARDINGLY COLLEGE LIMITED DIRECTORS. REPORT (incorporating the Strategic Report) YEAR ENDED 31ST AUGUST 2022 Organisational Management The College is governed by Ihe goveming IC¢wncill dgales work lo a number of committees. The Govemors. are also the directors. detemiine the general tKilicy of the company. Education Committee - Ihe Tde of the Edueatton c(￿nmIttee 15 to monitor the proviston and developmertt of all aspects of edUCatiC￿ in the College including admissions. The Education Committee will be involved in devising. recommending. approvirtg and rewewing poliaes but it 1$ not part of the management and therefore not responsible for the implementation of polKy and other aspects of tha daY-t￿daY administration of the College. Comprtsing Govemors. the Head and other members of stsff, the Education Committee serves as an interface befvleen the staff and Counol towhich il is responsible. The items to be discussed are agiegd boknn th? Chair of the Committge and the Head following consuttation wth other members of the Committee. Its brief is to monitor the College's academic perfomiarte, guide the Seruor Management Team. be aware of national ¢hanges in education and monilor the College's extra-curricular provis#￿. thissions mc#Jg1 and ¢￿)￿liance wilh ISI. The Commiitee met three times during Ihe year. Financg & General Puwes Committee- Ihe Committee meets regularfy a temi. approximately two weeks in a¢Jvance of the main Ciyjncil meeting. aTrJ addilionalty in September. then as required. The main aim of this Committee, whose are drawn from the Council and hava experience of financial matters, 15 to review the f￿an￿al aspects of the Colkge's busines$ in detsil and to make re￿mmendatIOnS to Council for formal endorsement. The Finance & General Purwses Commlttee makes recommendations to Council on budgeL boThng. salaries and ca&¥tal projects. The Committee met five times during the year. Estates comM￿ee - ts Eslates Committee acts on Ihe auth(ity of the Council in a mcffiitoring and advisory role. Its findings and recommendations being reFty)rted to the Council for ralrfKatKJn or fijrther discussion. specifically in relation to capital proiecls, maintenance, Heallh and Safety and IT. The Committee met three times ¢Jring the year. Nominations & Govemance Comfflittee - The Nominalions & Govemance Committee has been estsblished as a subcommittee of the C￿n￿l to take responsibility for ensuring the members of CoJl8g8 Council have the skill- set and experien￿ required to ensure apprcyiate govemance of all CoJl8ge activilies. It also makes recommeTrJations to the Board for any changgs to the govemance opproach (for example. new committees) to ensure C￿nCil operates in line with best practs"ce. The Govemance & Nominations Committee meets as rewired but at tht annualty. In addition to the Cc#iymittee struciU￿, indr4KJual Govemors are aNocated key areas of responsibilty: SafeguardIn￿rIY Years, Hearth & Safety, Compliance. BoardirvJ. ICT arKI Devebpm8nL The key personnel are defmed as those attend full Council meetings: the Head ofth8 Coll8go and Senior S¢hfxJ, the Head of Prep arKI the Senhy Deputy Head of the Senior School. The daY-l￿aY management of the company is delegated to the Head of the College and the key management personnel. ovgrsgeing educational. pastctsl and administrailve functions in consultation with the senior staff. The day-to-day almiru$traliM is undertaken vthin the polNie5 and procedures approved by the Govemors whth provide for only expenditure deci5ion5 and maior opitsl projects are lo be referred to the Govemors for prp)r appyoval. The Head oversees the reC￿ltinent of all educational slaff. whilst underdelegated authority the Director of People ovef5ee5 the recruitment of administratwe and non-teaching cperations staff. The remuneration of key management Pers￿ne1 (noted on page 1} is set by Counul, wth the policy obiective of Providing appropriate incentive5 to encourage enhanced performance and of rewarding them fairly and resK)nstily ftw their indpiKlual contrit￿l0nS to Ihe Colege'5 SU¢XèSS. The appropriateness and relevan￿ of the remuneration policy is reviewed annually, incI￿11ng ￿fe￿nce to ￿MparISOn$ ￿th other independent scllools to ensure thatthe College remains aware ofthe broader issues of pay emkloyment Conditions elsewhere. Thè College aims to recruit the best slaff aThJ is atso keen to tsrget newly qualifie(I graduales orn1 Iraine8S to support through their career devetopment. Delivery of the College's (*arlIab￿ visK)n and

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (incorporating the Strategic Report) YEAR ENDED 31ST AUGUST 2022 purpose is primarity dependent on ¢xJr key management personnel and stsff costs are the largest siThJle element of our charitable expenditure. Group Slructure and R¢latlonshlps The College has ¥h￿IlY rmned ncKrthitable subsidiaries.. Ar￿￿￿ty Projects Limiled arKI Ardirgly College Intemational Limited. The activities and trading of the subskjiaries are described below. Note 31 provides deta￿S of CC￿r￿Cted charities. The princ4pal activity of Ardingty Projects Limited is lettirvj College premises arKI facilities. and retailing. The principal activity of Ardingly College Intemational Limited is providing educat)n81 consull8ncy services to foreign clients and devetoping English-speaking schcols outside of the UK. The Colleg¢ has developed links with a Mde rafMJe of organisations to ensure the widest po$sible access lo our facilities and education. Through membership of HMC. IAPS, AGBIS and ISBA and through networking peer groups we ensure thal we are able to attain the hwJhest stsrKlards of quality and porfomiance. We encourage our pupils lo develop an 8wareness of the social context of the al￿rcHJnd education they r￿￿e at the College. and IP*y are engaged in o number of activities to enhance their understanding. We aim for the College's relationship with its alumni (Old Ardinians) to be a strong and positive lrfelong partngrship. We achieve this through a dedicated communications w>aramme. a wide raTrJe of events. and positsve opportunities lo get involved with the life of the College today and inspire the next generation of Old Ardink4n5. Agreement of c¢￿perat￿)n has been svJned betsveen the College and the Old Ardinians SocTrety. vknich provides the framework for partnership and delineates the respor￿1b11rt￿S of Ihe Cdlege arKI the Soc4ety to eath clher for the benefit of Ihe alumni community. CHARITABLE OBJECTS, AIMS. oBJEc￿E$ AND ACTMllES Charltable Objects The charity's objects, as set oth in Ihe Axwes of Association. a￿ to pror￿te and extend education Ilnduding spiritual, moral. social, cultural and physThl education) in accordance with the doctrines and principles of Ihe Church of EnglaTrJ. The Woodard Cry)ratKJn (Wty)dard Schods) is an edL￿a￿nal tharity founded on the vision of Canon Nathaniel Woodard in the m&nineleenth Century as a dir¢¢t U)nSeqUen￿ of the fourKlerfs eon¢em lo transform his contemporary society through the provision of quality Christian educatK•n lo the emerging mtddle dasses. The Wocrtyard Corporation and its 5chwls share a misS￿n to educate young people to become adivg and responsible cilizens who make a positive cOntributic￿ to society and who are encouraged to pa￿.¢1pale. care for olhers and show leadership vtherever that is possible. Alms Our aim is to provide an excellent 215t century education for chIld￿n from Nursery to age 18 by being a fward4hinknng and higFFachieving C￿d￿￿￿￿nal sdThl wth a Str￿79 academic fows. excellent SIL￿nt supwi and a global oullook. Intended impact An ￿￿ingty College education 15 intended to prepa￿ every St￿Jen1 lo devel¢)p the skills they need to bemme suc¢essfrJl citszens in a global world. This 15 delivered tK)th in the currwlum and off curriculum wth a focused Wortd Ready week held annually in June. The diversty of the student body also elebrates this ethos over 25 different natKJnalities eniowng an Ardingly edUca￿n. The World Ready message is alw ¢4￿m￿nicated in the Cdlege's athertising and marketing malerials.

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (Incorporntlng the S￿te91¢ Report) YEAR ENDED 31ST AUGUST2022 Equal OpportunltleslEmployment Policy The Cdlege is committed to the principle of equal opportunitie5 in emptynenl and in equal pay for work of the same or similar nature or work of equal value. The College declares its opposition lo discrimina￿n or any fom of less favourable treatment financ4al reward. whether through direct or indired discrimination, harassment, vtbmisab.on or segregation accorded to employees or job applicants. on the ground5 of ihe kllowing PTOte¢ted Characteristics: ag8. sex. marriage arKI cNil partnerships, gerxler rea5sKJnmenL race. religious beliets or wlitical opinions. ethnic origin. na￿onality, maritallparental 5tabJ5. sexual orienLIts'on. disability. pregnancy. matemity, part-twne or fixed-temi employment. In response lo the Everyone's Invited campaNJn. the Cotlege Executive was detem)ined to lake a 08ctive approach and op￿Y engage with the issues the campaign had hMJhlighted. Current pupils. parents arKI alumni were invited to share their experiences. which were then discussed by Senior Management before seeking a consensus from staff and pupils on the next steps. The College worked writh extemal organi5ations and speaker5 who gave talks arKI led pup￿ workshops on relevant Ihemes and the College Mll continue to engage wth these mowng fopwards. inviting them to work with smaller in-house group5. The College has also appointed an Equality. Diversity and Indusion Lead and Assistant Lead. whose task is lo bring together the excellent work already being done in the College's LGBTQIA+ Society, the New Era {formerty Feminist) knety and the recenuy reformed and $tudenl-led Anti-Raasm Society. An ethos and culture do(JJmenl has been drafted to articulate the College's approach to diver5ty and inclusion, echoing the determination lo ensure that Ardingty is as welcoffiing 8nd tolerant an environment as we can make it for staff and pupils alike. Investment Policy and Obi•ctives The company s memorandum aThJ articles of assooation pemiit funds to be invested such manner as the directors see fft. provJing that advice has been obtained frcKn a financial expert and providing that such powers of investment consider the suitaknlty of investments and the need for dNersifubon. STRATEGIC REPORT The Strateg￿ report covers educat￿81 objectives. pupil numbers. public benefil (sch(xSp8rtnerships, means-testedbursaiies and community a￿6$$), risk managemenf and mitigattons. Primary objective$ o Be an educational commun￿/ INing wt Ciistian va￿$ of kindness, empathy, aThJ sodal inclusion. PrOft￿e the weware and wellbeing of every pupl through dedutsd pastoral supwrt and a varied progrnmme of srmxting. cultwal. ueative and service actith. Provide cLJnsistentJy excellent and exciting toaching and learnSng so that every pupil acquires academ￿ knowkdge. dgvelops skills and grows in intfrllectual wriosity and fulfilment. SupFh)rt every pupil to athieve their tull potential in examined qualifications. Offer varied and stimulating experiences that help to prepare pupils fLY the next slage of Ihgir educati￿ and the workl beyond. Develop our staff to enhance the qualty of their work arml professlonal fijlfymenl. Devefop ourfacilities to supwt first class ethxalion. o Woth with pather S¢1￿1$ and engaged stskeholdors lo [￿mOte ethjcational values and cpportunity.

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (incorporating the Strategic Reportl YEAR ENDED 31ST AUGUST 2022 Current and rocent strategies to a¢hleve obSe¢tlv•s Review of support for pupil wellbeing needs. appointrnenl of a full-time Mentsl Health Lead. provision ofmore tutor tirr. implemental￿n of CPOMS earfyvstage idenlifi¢ats"on of pastoral c¢ncems. and revision of PSHE programnx. Further development of Equality. Diversity and Indusion through appointment of EDI leads, pupil ambassadors. arKI growth of pupil inlerest4JrruJp S￿letieS such as New Era, Anti-Racism and LG8TQIA+ Completion of Microsoft Surfaee dewces rolvout for Years 7-13 plus shared uso in other year groups. Teacher and staff training programe LY)rWed in use of Teams and One Note. Growth of bursary programme and appointrnent of a Partnership5 & Bursalles coordinator. Phased College restructu￿ desigrbed to ¢Jptimise educatitinal envinnments fc all age groups. New model of Iwo schoo15 from September 2022: Prep S¢1￿￿ from Nursery - Year 6 and Senior School from Year 7-13. Site relo¢atitin of KS2 to be completed sublect to affordability. Cyling ofa new Lchver Schwl Day House for Years 7 & 8 t￿yS arKI girls as partofthe College restructure. Opening of a new Day Boys. House (Pearson) In 2022 to redLU srze of day boys. houses., follows addition of a new Day Girts. House <8urgess} in 2020. Completion of facilty upgrades.. STEM centre120191. newday girts house {20201, Dance studio {20211. Café and pedestrianisation of the West Quad {2021) ar￿ a new car park120211. Pupll nUrn￿r$ 202112022 202012021 Senior School Preparatory School Pr&Preparatory School 1303 boarders) (19 boarders) 631 316 83 {309 boarders) 132 boarders) 81 Total 202112022 Girfs 202012021 Girls 269 161 38 Senior Sch￿1 Preparatory Sth¢x Pr&Preparatory School 371 154 47 362 155 45 152 Totsl 572 474 562 468 Pupl numbers are presentedex¢luthng PKg.Nurs8ry and Nurserypuwl$. Publi¢ Benefit Our over-arching W￿lIC benefit is to ¢￿tr￿ule lo the promOtN￿ of edU￿t￿)n for pupils enrolled in the College and for those attendirwj sdKV)ls ￿th we have eslaLqisheil edUcat￿nal partnerships. For pupils at the College, we aim to Fvovide op￿tunI118$ throu￿ which tlw can play a part in their local communilies and gain satsfaction fr(xn contthbons. In the furtherance of these aims the Dire¢Xors. as the Charity trustees. have ccrfnplied the duty in

ARDINGLY COLLEGE LIMITED DIRECTORS. REPORT (incorporating the Strategic Report) YEAR ENDED 31ST AUGUST 2022 s.17 of the Charitios Act 2011 to have due regard to the Charity Ccrfnmiss)n's published general and relevant su￿$¢¢tor guidan￿ c(MKeming the operation of the PublK Benefit requiremenl under that Act. Woodard and its schools provA1e a significant benefft to the public. The Cole strive5 to ensure that measures of public benefit are appropriate, and that swJniffi¢ant sedk)ns of the public are not excluded from the opportunity to benefit from the education and faolities offered due to the need to pay a fee. In addition to 5ignrficant provision of bursaries and other fom￿ of financial supp)rL the College provide$ a wide range of opportunibes for communty b8n&fft atxl facilities and events are often open to all. The College welcomes pupiL% from all backgrounds. To admit a prospectNe pupil we need to be satisfied that our school will be able to educate and develop a pyospective pupil to the best of their )tential and in line wth the general standards athieved by their peers. Entrance interviews and assessments a￿ undertaken to satisfy ourselves and parents that potential pupils can cope with the pace of leaming and benefrt from the education we provKle. An individual'5 economic status. gender. ethnicity. race. religion or disabilty do Th)t fomi wt of ￿r assessrrtht pri)cesse$. Ardlngly4field STEM partn•rshlp Since 2017 the College has resourced an iThJependent-state par1nership wth lfield Community College focussed on STEM. The first pr(4ed was a ¢dlaboration of teachers and Sludents betsveen the Iwo schools to design and buikl a sdar-powered car to pa￿cIpate in the BrTrdgestone Solar Car Challenge in Auslralra. This amtrM¢ion was achieved W) 2019 with the cornrAetK•n of th8 race by a joint Ardlngly-lf￿k[ team. In recognition of ttrms project, the pJ1netship was aw¥ded the TES STEM project of the year award in 2020. The prolgct has also been fornw1￿ rec(Jnised by the Institute of Motoriro. The $￿ar project is fully-funded by the College. including the empknyment of a graduate engineer to teach students 50ftware programmes and ￿p￿rt them in their Fdanning and execulion of a rAMnplex design-and-build proiecL In 202110 highlight the Confwence of Ihe P¥ties (COP 26) in Glasgw. the team took the solar car on UK tour. which required road registering the car with the support of four MPS and the Secretsry of Slate fc Trnnsport. The car then undertook a UK tcwjr from Invemess to Haywards Heath. involving 20 studenls from lfiekl Community College and ￿dInglY. Stopovers included Inv¢rn￿ Castle. St And￿W$, Glasgow ISECI. Hdyrcod. Edintmjrgh. York. talks atthe Levster Space Centre. D￿jdfy Squat (Jeremy Clarksonl, The HQ of Ihe InstitLrte of Motoring. Central London and then back to Ardingty College: a mammoih trip Ihat raised money for the IMI tharty. Ben. We were then inwted to pre$enl the car to Ihe Princess Royal, HRH PrirKess knne. The team ￿aYed a key role in organising and competing in the inaugural London to Br*3hton Evralfy befcye gO￿g tOtr￿Ls al Dunsfold with Cambridge and Durham Universities. The next phase of the partnerships has kn¥0 aims". to design aThJ buikl a fiat-pack solar ¢ar and lo take STEM project5 into prirnary SCh￿lS in a refitied d￿￿￿e-d¢¢k8r bjs. The flat-pack wll be an off4oad SUV for the developing world wth the potential to provtde off-grid Fower. The team hopes this may have commercial applications. We are presenty law lo our sp<xwred ￿h0O1$ in Kenya to organise trials in 2024. The sponsorship team of the project have m8n8ged to acquire spL¥ts(Kship for the purchase and fitting- out of a STEM bus. The bus will be located at lfield Community College and will prowde a facilty where extracurricular sdar aCtiVit￿S can occur. This mobile faolity means that we can present STEM projects at primary schools aThJ events. Hopefuty we can make a small drffererte to the draslic shortage the UK faces in STEM-trained workers. The Ardir4Jty scbence tethnicians are very proactive and have already compiled a long list of impressNe experiments which we hope lo demonstrate. 8urs•rles To sU￿eMent the financial assIsts￿e provKled to 8 $KJnificant number of wesent pupds through the College's bursarial scherre. the Cc4lege Endowment Fund was established in 2019. The Fund's objective is to build an endowment that will in fulure be used to yovide bursarial SUp￿rt to talented pupils vthose famtly Circumstar￿S would otherwise prevent them from attending thg College. Tho endowment is fwKled by Wies from alumni th)nath)ns fffjm parents and Sup￿terS of thg

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (incorporating the Strategic Reportl YEAR ENDED 31ST AUGUST2022 College. The College is extremety grateful to all ltrw)se Wt￿ ¢¢￿trIbU1e to supporting bursary pupils lo access and enjoy the educational OppOrtun￿e$ of the Cole. Bursaries are also fvnded by revenue eamed by tho CoMfjg8's subsidiary companies. The College is mindful that ti must ensure a balance between fee-payiry parenls. many of whom make considerable personal 5ac¥ifices lo fund their child's educat¥)n. atKI those benefrting from the awards. As Sl￿. the College has a duty to rnake sure that bjrsaries are awarded to families wth demonstrable need. In assessing means. the College uses BU￿ary AdrnirAstration Services to provid8 Ihird-paity assessment of bursary appI￿nts, financial means. BU￿aries range from 5% 10 Th remissicffi of fees. We abo have a hardship frJrKI that supplements bursary awards to pay for co￿jm¢￿1ar activilies. equipmenl and school trips. Information about fee assistance through bursaries is provsded lo au applying to the College. Further detaits regarding bursaries is available on our website. This year the value of means tested t￿TSarIeS totalled £533.432 and represented 2% of our gross fees. They aided 42 ofour pupils. 22 CfWh￿h benefited from tranSfOrna￿na1 mean5-tested bursarbes of SOQ plus. Of these, 16 students benefited from a bursary of bets¥een 50% - 75% ￿miSsion of fees and a further six students of befv￿en 7&100%. The value of bridging bursaries Induded in the above was £41.217. aiding eight pupils. Stholarship5 The puipose of our scholarship awards is lo recognise high academic potential or the ability lo excel in our CO•curricular admties. Our scholar5hip5 are awarded on the basis of Ihe individual's academic potential or evidence of exceptK)nal abilit￿S which will contritrMJte to tyjr co-cwicular activities. In addition. awards may be subject to LY)fKlitions Th￿Sed by the typjinal donor. The College awarded scholarships to 265 pupils. based cfft theireducalional rrErit and potential, lotalling £904.249 and representing 3.5% of our gross fees. Otthts number. 35 also qualffied for me8ns-te$ted bursary support and are induded in the fvjures refaling to bursary awards. The progress of wpils re￿r￿1r￿j scholarships is rewewed at least annually to ensure th8r progress is in line wth their abilities. No ￿hOlarShIpS re wilhdrawn in Ihe year as a resuli of revbews. Communlty outreach and engagement The College engages in a variety of communty outreath )d voluntsry act￿ kyogrammes throughout the year. The following prowde a sample- 0 Bridging Ages Café.. offers company. teChnO￿9Th1 supwt. g￿e$. coffee and conneclions between the generabons. o ￿)$1¢ and Mem1￿ project: stud8nts play aThJ rewd MUSK to stimulate memories for nursing. home residents. o Kangar(￿$ Disabilty Pr(4ect: readry arKI play to make a dIfferen￿ for chiklren wilh significant leaming needs. The Colle98 operates a Sp￿s Stars wogramme by which local Primary school children come to play sports at the College eath week. cOad￿d by senior students who are studying for a swrts in aclion qualification. Organised and fv)sted a Girls. Football masterdass for 250 primary scool children. Local scout groups and St Peters Primary School use the swimming pool at discounted rates. The ArdIng￿ Choral Society retarse in Ihe Music sch(￿ a week.

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (incorporating the Stratsgic Report) YEAR ENDED 31ST AUGUST2022 Tea¢her training The College plays a role in SUPFrfxting the qualrfKation and training of teachers, wh￿h underpins the proM5bJn of education. During the year. the followw formal quaIrf￿tlons were completed: One t&icher c4JmFdeted Eaty Career Tethr quafffie4ti0n. Two te¥hers gained Graduate Texher ststus. Two leachers corn￿eted PGCES. Three teachers ￿￿pI$l8d Masters qualificatK)ns. Two leachers completed Chartered Teather quarffj￿t￿ns. One teacher completed a PhD. PRINCIPAL RISKS AND UNCERTAINTIES The board of govemors is supported by Ihe Conege Executive in r¢vtewng risks faced by the College. Separate ¢omTnittees consider compliance and health and safety. Risks (including other regulatory and operationall are identif￿d and assessed by means of a Risk Register and ¢￿trCIS monitored and updated throughout the year. The key controls used by the tharity indude.. Articles for the 8oard det&led terms ofreference for al B0￿d ￿Mmittee$ Forn￿1 agendas for 81 committee and Board meetings ComprehensNe b￿tir￿j and management accounting Roview and approval at Q￿lege Executive and govemor kvel of key poliaes Safeguardin9 arKI vetliNJ wrtedures as required by law fcf Ihe votec￿n of the vulnerable Regular consJeration of Ihe risk regster. The prlncipal risks and unCertain￿S for the College aThJ the mit3alion strateg￿$ in pbco include Ihe followlng: Pupll demand Demand is monitorfjd at each enty level and admis5w)ns stage to enable trend analysis which can act as an earty waming indica1￿ of a possible drop in demand and marketing effort5 are then focused on any year groups which look as rf they may need in¢Jemental pupi15. Parent surveys were conducted in 2022 to undersland parental salisfac1l￿ and areas for continuous w￿l0VeMent. Reduction in revenue from College subsidiary ¢ompanles Trading Conditions during the year for the College subsKliary companies were ChaI￿nging du8 to the continued disruption in international travel and restrictions relatiry to Covid and the war in ilkraine. Risk factors were revIev￿d regulaty. and strat8uies put in place to replace ktst income. Regulatory non•compllan¢e The College Compliance Committee eomprised of gOVerr￿ and management staff meets lermly according lo a p￿cribed agenda to monilcK all aspects of regulatory complian￿. Key policies are reviewed annualty by the Cdlege Exeujtwe and governors are notified of synificant changes. Safeguarding and Child Protection. Health & Safety and Anti-Bul￿n9 po(iaes are reviewed and suned off by Council. Heafth and Saletyand Data controls Health & Safety and Data Protection are managed by full4ime professionals lo ensure anticipation of risk and implementation of mitigations. Follwng an on4ite acudenl in August 2021 the College conducted a rewew oftraffic managwnent and found to pyovide safe enV￿nMent ty the Health & Safety Executive. 10

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (incorporating the Strategic Report) YEAR ENDED 31ST AUGUST 2022 Board and committee composition The board regularly reviews the skills rnatrix to identify potential experience ¢y $kill gaps. Conflicts of interest are dedared and monitored and required checks are made on prospective govemors prior to appointment. The Nominat)ns a Govemance Committee 15 tasked wth ovetseeing the composition and pr¢xess by which wvemors arg introduced. vetted and approved. REVIEW OF ACHIEVEMEPfftS AND PERFORMANCE FOR THE YEAR The rewew ol activities. achievemenls and perfomiance otrtlines aspects such 8$ the a¢adomi¢ cuniculum and results, extrarycurricular opportunibes. unIve￿ty admissions, careers P￿pa￿tion, diversity and inclusion. sport and the creative and perfonning arts. and engagemant with Ihe wider Covld Context hools were obte lo ijperale throughout the academic year 2021-22 withwl enforced closure as had happened twice over the prevKxts two years. This enabled nomial schwl adivity to resume in most areas, although in many. prcgress was tentatNe at least until the lifting of the mandatory period of isolation in January 2022. Until then, absence rates for staff and pupil Ihrough mandatory isolation were sigThfKantly higher than in a n(rnl ye¥. ￿ staff resowces were Considerably stretied. Extrawcurrfcular academlc activity In addition to studying the fomial academic curriculum. h￿inglY students engaged Ihroughout the year in a range of academ￿related enrichment activity. both at school and beyond the schwl gales. The followiTrJ is a sarn￿e of the many su¢h acb¥it*s and trips uThJertaken during the year. Medkn featured ￿kS by NHS professionals. a biomed￿1 scientist and a microblologist as well as BMAT and UCAT courses and reS￿lee$ to prepa￿ students for application to Med￿al school. Biology students extended their practice of biok)gul science during National Biology Week. including lectures on diverse topics such as Spinal mUs￿l8r Atrophy and the British Anlarctic Survey. laboratory dissections and a wldlrfe photography e4)mpetition. OA Peace & Conflict panel: an invwJoTating discussth￿ on the successes and failure5 of the UN'S rde as an intemati¢)nal pea￿-keepIng org8nisation since WMI: chaired by 2017 OA Phoebe TucketL wth a panel of distinguished alumni working in the T￿Id of intemational relations and humanitarian aid. o Theatre tsips were made to see woductions of Wuifwing Helghts. Animal Faryn and Julius Caesar. Computer Science students competed in the intemational 8EBRAS cJ)mpetition. Students from over 40 countries were involved and were task8d with sofving drfferent problems using computsts"cfial U)inking. 27 Ardiroly studerrts had s¢cKes which put them in the top 10% in the County and were invited to the next stagg ofthe o)mpelilion- the Oxtord Universty Compulin9 Challenge (OUCCI. Science sludents engaggd in a stuty of Ihe fijture of Meat. with 18 Sixth Fomi students visiting the LEAP I￿Vest(￿k, Envinnment and People) project at Oxfor(l University for lectures and seminars. Aievel Psychology Studgnts spgnt a day with Or Guy Sutton discussing aspects ofthe human brain's structures and fvn¢b¢)ning. induding in spa￿. Dr Sutton's talk f¢xussed on schrzophrenia, the vKAenl mind and auditory hallucinations. The Law Society visited the Supremè Court and thè Bailey. road a copy ofthe Magna Carta a￿1 wslted a trial In progress.

ARDINGLY COLLEGE LIMrrED DIRECTORS. REPORT (incorporating the Strateglc Report) YEAR ENDED 31ST AUGUST2022 The Book Club covered. discussed. agreed and disagreed on books by contemporary writers t)onna Tartt, Pat Barker and Rthrt Harris. ¢ Classics stLKlents ￿nSidered the re-aFprawl of a nolorKrtts Roman emperor in visithng Nero- the man behind the mask at Ihe 8rifish MuseLm. Academi¢ Results Public examination resuhs in 2021 were based on Teacher Assessed Grades as a result of the pandemic. The 2022 exam season retumed to examined assessment. and Axdingly students once again achieved outstanding outcy)mes. More than ever. the 2022 exams were a lest of the qualty of teaching and piofesgonal support for students preparing for public examination5. and Ihe resolve of sludents. leachers and parents working together to put each exam candidate in the best place to sit their papers. GCSE highlights.. 79% of entrie$ were graded (the equivalent of A" or A grade). 34 scored a fvll sel of 9s and 8s {A' equIva￿n1) and 12 athieved all 9s. 100% of the GCSE cohort qualrfied for tt)ntinua￿n into the Sixth Form. A-Level and IB Di￿Orna highlights= Over a third of entries {37%} athieved the top grade of A" or the IB equivalent 7123% In 2019). Over 213rts171%1 achieved eilher an A"IA or 716 {64% in 2019). Upper Sixth ￿hort of 133 students betsveen them achieved 377 oflhe top grades A"IA or 716. IB Diploma average of 40.1 FK#nts. with three caThJidates gaining the perfect score of 45. BTEC highlights.. 18 Level 3 entries in PSytt￿, Busines5 aThJ Sport. 8 slarred-dlstin¢tions and 6 dh5tinctions. VniveT5ity adrni55ion Ardingty College leavers in 2022 took up offers at some of the top unNers￿"e$ tn the UK and abroad. in an increasingty competitNe global market for untversty entrance. Among the most popular university destinations were Newcastle110). Bath {6). Oxf(Kd, KrThJ's Cdlege Lon&)n, York, Exeler15). Durham, UCL and Leeds14). The 2022 leavers continued their stud￿$ in a wide range of courses from Aerospace Ertgineering to Stage Management. Fr￿￿ over sixty courses, the nh)51 popular reL4led to Business and Economics. Science and Engineering, PPE, Engli%h. Geography arKI History. Three students took up pla￿ al medical schwl and eigm took up offets at Oxbridge colleges. Careevs Careers athlce and guhjance forn￿ a vital part of pupils. edUCa￿n. hjl pupils complete an onlirie careers questionnaire called Probe whth introduees them to various weers and In￿ase$ their awareness of subjects that lead lo specific caree￿. Lrle skills workshops are run through(￿¢ the year to support pupils in buikjing and devek)ping lile s￿lIS - these ir￿ll￿1e ne￿￿￿Ing skil&. P￿sentation skills, CV writing, intemew preparats.on (Multiple M￿1 Interviews and 1..1 interviews) and wcffk experience se￿onS. Students have been parliculady proactive in their work experience exploration thi5 year and although some of the experiences have been virtual, approximately 150 students have participated in work exp￿nCe placenMts. The Cdlege hosted an inspiring Charting the Future evenL in collaboration with our Alumni and OA Department. The topic was Howceographyempowers us to meefioday's challenges andbuilda better tomorrow. The panel included three of our dynamic OAS - an environmental ¢onsuttant, a MD of an temational energy explwtK)n and ao*Mry ccffnpany and a sefti￿ anatysl for the Cabinet Office. 12

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (incorporating the Strategic Report) YEAR ENDED 31ST AUGUST 2022 We hosted NCS (National Cibzen SeThi¢e}thrwghout the year. They have been delivering programmes mainly during the summer holidays lo yoyng people since 2Crf)9. NCS enables young people to meet new peo￿9. 18am now s￿lIS and u)nnect wilh the¥ C¢)mr￿nitIe$. This year we decided lo COm￿ne a L(Mer Sixth outing and further education faw and took the whole year group lo the UK University and Apprenticeship Fair al Tottenham Hotspur s￿dIum. This allowed our students to explore drfIe￿nI further educati¢)n options and to various universities and employers. offering several next step opt￿n$. The annual Take-A-Risk competilK)n featured 43 students generating new business hleas such as a massaging backpack. a wotein Café airned al gym users arvj a verifKalbon softNare product to prevent bots mass purchasing online markets. The wnnirrfj entry was an innovalr¥e technological device lo enable drivers and car manufac￿￿r$ to make n￿e environmentslly friar￿ty choi¢frs by F￿VidIng infomiation about veh￿e laxe5, depreciation ar￿ fuel eosts. Debatlng and MUN In House debaliry. 84 pupils c<xnFet&J across 25 debates cffi topics such as vacc4nes. iryury in contsct sports and women's empowerment. The motion forthe House debatsng final was: This House believes changing attitudes fo LGB TQIA+ peo is best aGhieved through legi￿at￿. Ardingty's schwl debate team pro9￿$sed to the second round of the ESU Schools Mace competition. debating on the motion This House wouldmake fings for ando?minal offences pmportionate to the weafth of Ihe offender. An Ardingly team represented the UK. Iran and Senegal at the MUN ￿ffifererte hosled at the London Oraw. on the twcs of Tawan, human trafficking and pol￿9 the p(Aice. LGBTQIA+ and Int•rnallonal Womens. weeks As part of its ¢ommitrnent lo educate children to think and act in way$ that are wnsciously inclusive and welcoming of diversity. the CO1￿ ￿￿sSed studenls. attent)n cffi LGBTQIA+ and feminist issues for a week each during the year. Senior scho￿ students used LGBTofA+ week and Intematrthnal Women's Day to ewore kS$U8S of gender. equality. Inclusion and divetsity. LGTQIA+ week featured among others a discussic)n group with Young Adult author Simon James Green. a student talk on Asexualty and Aromanticism and BBC journalist rim Bu￿e gNing a visiting lectsjre. Organised by the Student-led New Era &oety. Intemational W0￿￿￿'S Day was marked by four days of events. themed around 'How to Buihl A Safer Society for Women and for All.. and including a panel discussion featurirvJ women in prominent rdes in public lrfe. Other hight￿hts of the week induded visual representation of the topics we dis(JJssed: our Vvjil Tree in the eentre of the College, creating space lo honour the faces and names of the ￿fflen and girls killed by men since 2021,. a Stations of the Cross. exploring female suffering through powerful photograph5 by Anna Ensink,. and mirrors around the college. asking 'Who do I see?, of Ihose passing. Workshcps throughout the week led by inspiring women such as adventurer Holty Budge and a panel on Women in Work with successful and passlonate OAS, all faulitated thoughl-provckng d1sujssK￿. and a wiKkstw on 'FJing your Voice antj Using It. for female students. Charitsblè activity Charity fund-raising forms an iMp￿an1 diMen￿on of College lrfe and edu¢alw)n, demonslrating ollective detemination to contribute to good causes in support of those less fctunate than oursefves. In addition lo fund-raising. the charity team$ ￿llaborated with the food charity Fareshare to support food collections from Ihe College c(VNnunlty going lo local residents. The charity prefects led Movember, organised a whde College ￿OUr run. a ribbon-selling and we*Jht- lifting evenl for Ukraine and h￿tse events such as cake Sales and a Wild West nwJht that raised £5.(MXI on ils own.

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (Incorporating the Stratsgl¢ Reporf) YEAR ENDED 31ST AUGUST 2022 The Catering department continued its suppNt of Crawlfry Open House through sending them pre- packaged rtems such as sathches and muffins. raised £5fy) Haywards Heath Foc¥Jbank from no- dessert 5un¢h and inrtialed a new venture with Jubylee Bakes to sourc8 cakes made by autisti¢ and downs syndrome children lo sell in the College ¢afé. The crea￿ and Porfornilng Arts The year saw the opening of the Da￿ Studro and the incy)rporalion ol dance into the enrichment programme of actsvities. The inaugural Dance Sh¢Mcase was a spedacular ￿ntaining a variety of dance styles and a range of ayes, all appreaabj by a dej￿hled audiencg. Musicals were lo the fore in drdma productions. with the senKJr studants prowting an excellent Litt Shop ofHorrors and the Year 9 and 10s hawThJ fun with The Addams Fami"ty. The musical w)gramme for the year wa5 as busy aTrJ Str￿ as ever. packed with rKttsl$ arKI concert5 of all ￿ndS and for all ages. Amor¥J the htghlKJhts was a stirring ￿rf0m)8nce of Rutter's Gloria in the Chapel {deL4yed from 2020 due to the pandemic) and Faure's Requiem performed at st John's Smith Square. The choir and SdKJla Cantofum had the un¥4ue experiences of singing at Westrninsler Abbey as well as on tour to Bath aThl Bristol. Sport Swt is an integral part of Ihe cJJrricuhJm. wilh all pupils playing at least tmce a week. The College offers a w*de range of sporting options in addit￿ to those itemtsed below, induding basketball, badminton. cricket. fencing. netball. sailing. tennis and athleti&8. In these sports and more Ardirtgly pupils find the enjoyment of participation arKI teamwork. and the experience of competing both within the Schts￿ (inter-house) and represent¥￿ the schl￿. Football-. Th8 f¢)otball programrne offer5 a comFelthve level of Sc￿￿.age f(M)tball frK boys Durlng the Michaelma5 term an average of 12 boys. teams represent the schcol in competitive r￿tures. The 11¢ team ¢orrpeled in the HUDL league of the top inde￿ndent SC￿ football teams in the county, finlshing seventh. The Girfs. fwtball teams achieved signif￿ant success at all age groups. winning th& ISFA Under 18 South East League. Under 165 the Sussex Scknols CW Cup. the Under 15$ Swth East League and the Under 1Ss Nalionai 7-&side toumament. H(xkey.' Girls. and Boys. Hlxkey teams also lourKI success. with the girls winning tho county loumamenl at UTrJ8r 15 and Under 14 ￿Ve1$ and the Under 14 boys also becoming county champions. Two girfs were invrted lo the England Hockey Performance Centre and iwo boys represented England al Under 18 and Under 17 respectNely. Swimmirwj: The swim squad had its most swcesslul year ever. beconThng gjssex League champions and with six relay teams qualrfying for the ESSA ChaMp￿nShip finals. The College team also won the prestigious Tonbridge Trophy and won the Bath Cup and Ihe TL Sland trophyal the Bath & Otter CWJ in the London . Aquatic Centre. Rowing is a reLglively new sport atA￿ingty and continues to grow. Thi8 year. Cdlege teams competed at the Ball Cup at Eton Domey and the National Schools Regatta in singles. doubles and quads. providirvJ oppc¥tunity and coaching for enthusiastic young rowers to leam and eompele in the sport. 14

ARDINGLY COLLEGE LIMITED DIRECTORS. REPORT (Inco￿orating the Strategic Reporo YEAR ENDED 31ST AUGUST2022 Ardlngly College Prèp School The key purpose of this year has been l¢)oking ahead to the new year following Restructure whilst also endeavouring lo deliver a first4ass education as a Prep School up to Year 8 pnor to the Restructure. Since September 2021. the Prep SLT and texhing staff have worked ¢ollaboratively to create a School Developmenl Plan." Towanys 2025. by discu￿￿9 the key strategic pjints that will allow us lo become one Prep Sch¢)ol, located in ty40 different sites. at ￿dingty College from September 2022. The mission ofAtrdingly Prep School is to wovide an outstsnding foundation and primary-age education wrth a strong academi¢ fc¢us. through a broad. ambrtious and inspiring ¢urrthlum. and an enjoyment of learning rfJethef. This is supported by six overall aims.. To be One School despite beiryj in two locab'ons Until the physical complebon of the re5trudure. the Prep School will be endeavouring to operate a$ One SclKk)l. in Two LocatK)ns. This ambitious aim will require us lo be aware of the need5 of eaeh other, across both sites. We will need to work togelher colL4borats"vely, hone5Uy and openly. sharing issues and concems. whilst accepting the limitstions and reality of being tsyo. We aim to embrace the con￿pts of.. one unifomi timetable, team texhiThJ, teaching across Key Stages. peer observation. a presence in both schools, and Who￿ sthool events and pr￿esseS s￿h as assemblies. clubs, dukn.es and c￿ver as one. To create a balanced and purposefvl Currulum. from Reception to Year 6 The Prep School curriculum and timetable has been reviewed and revised across all subjects, including the Arts and Sport The renewed EYFS ststutory framework that came into force in September 2021 placed a focus on child-led leaming and development and a bess restriclNe curriculum, enabling practitioners to adapt teathing to the children's indivKlual needs and interests. To embed Crealivty and Discovery in the Curriculum The Head of Enr￿ment and Activities has reviewed the extra4urricular programme to embed creativity and discovery across the Key Stages, implementing a new Able. Gifted and Talented IAG+TI programme. a revitslised Trips and Visits pwramme, a fresh approach to the Leaming Spaces, a whole-school approach to Reading, as well as a revitalised Clubs offering. allowing learning, development. experiences an¢J progress to happen both in, and out of the ¢￿Ssroom. We have already adapted our Nursery CU￿leU1uM to focus on Curiosity and will build ¢)n these foundations through Recept￿Th and ensure a smwth transition io Key Stage 1 arKI kter on lo Key Stage 2. To create a Support for All approach to education The Head of Pastoral Care and Wellbeing and the Assistant Director of Leaming Support are embedding individualised leaming. and pastoral care. and support. putting the needs of individual pupils. their wellbeing. selfsteem and self-conffidence at the heart of all we do. The 2021 EYFS framework Pla￿ an emphasis on Personal, Social and E￿￿tIonal Development lo enable children to learn and deveh)p best. To deliver an outstanding Values. Characteristics and Human skilLs programme The 01$￿Vering1Shaplng My Vknrld programme has been updated to prepare Ghildren for the present and the future, allowing them to leam and develop values. thara¢terisb¢s and human skills to benefil and help them in school and beyond. as they advance through the key stages. This is very much part of our Mission Statement based on the quote by A.J. Juliani. Our task is not to P￿pare ourpupils for something." our task ￿ to help them leam to prepare thems8fves for anything.~ 15

ARDINGLY COLLEGE LIMITED DIRECTORS. REPORT (incorporating the Strategic Report) YEAR ENDED 31ST AUGUST2022 To become the nN)st Generous community inside and out of our school All stsff have been part of ￿ review of our ethos. to endeavour to embed a cjjtlure of generosity. built on outstanding manners and behavKur. as part of the everyday teneL both in and outofschool. allowing pupils to understand the importance of collaborating, and valuing everyone and everything. as we become the most generous eommunty, stronger for how we work logelher. whilst developing even closer ￿rat￿￿ShIpS with our parents. The six aims are the key drivers behind the SDP." Towards 2025 and we are all working hard lo allow this live document to be our guidebook and reference point enabling us, based on our C￿aT vision, to become one school in tsvo sites from September 2022. The SDP". Towards 2025 has a clear timeline and review dates for us to referen￿ against ￿eath"ng accountability. We said a final gojdbye to that style of sctthl in our final School Prize Giving and Final Assembty in late June where we celebrated many of the successes of the year that indLKled.' Re¢ord successes n the UKMC maths competition with many children qualifyin9 the Olympiad and Kangaroo rounds Prcgress arKi excellen￿ in the dassroom with much prcgress in evidence from our PTE, PTM and CATS Drama success with a film version of Lord of the Flies. numerous form plays. and Beauty and the Beast for the Year 5ffj club as well as record sueeesses in LAMDA exams A produ¢tive Shaping My World week mu￿c21 triumphs with the 14Vhole College Concert. record successes m Music exams An outstanding Dance Show and Dance Festival Numerous spx)rting s￿￿esSeS with huh1￿hts being our U13 Girls. becoming IAPS Netball Runners'_up, a bronze medal at the IAPS Nat￿Inal Swimming Champions, Gold medals at the IAPS Judo Championships and three medals at the National Athletics Championships. Our U13 girls qualified for the ISFA Football Nationals having won the Reg￿nals. Funds held as cuslodian truste¢ on behaff of others Ardingty College does not hokl fvrKls or act as custodian trustee on behalf of others. FINANCIAL REVIEW Results for the Year After tsyo disrupted years. it has been Very en¢ouraging lo return to a more normal way of operating, with the fvll year back on the College campus and no requifeffont lo discount fees. The In￿Me for the year amounted to £26.4m. of which the operatin9 surplus on all College activrties (including the subsidiary businesses and before investment gains I losses) increased to £869.644. from last yearfs surplus of £194.348. Gross fee income for the year increased by 12.7% frorn last year, reflecting the additional 16 pupHls enrolled throughout the College. The year+on-year increase in gross fees reduces to 7.kn adjustsng for the £1.25m fee discount offered last year in respect of the campus dosup. Our trading company, Ardingty Projects Limited. welcomed back its intemational Cl￿nts to the campus during the summer holidays. butwith reduced numbets due to continued nervousness over intemational travel. Despite a successfvl wn of the in-house holNJay dub5, Ardingty Active, and additional event income. total income was significantly down at 64% of budget level. The company therefore did not contribute to the Group's operating profrt and made a loss of £151,000. The Board has rev￿Wed the lorecasts and the prospect of the inkmabonal dients retuming and considers that the busines5 should be viewed as a going concem. Ardin9ly Cole Internalional Lld. cMJr subsidiary company devebping educational consultancy seryices and franchised schwls overseas. generated income of £87,500 from the final tranche of the pre-operalional fee for the ffirst franchised school in Chwia. The CA)ntinuing impact of the pandemt on 16

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (incorporating the Strateglc Report) YEAR ENDED 31ST AUGUST2022 the Asian countries in whtch the company had p￿￿r￿j$IY done txjsiness meant that new business was not possible. The company therefore made a loss of £72.o¢JO. The Board has reviewed the forecasts and the contracts seCU￿d and. with the Chinese sthool having opened in Sept 2022. considers that the business S￿uld be viewed as a going con￿M. Group total funds Nueased by £1.972.351 for the year. after actuarial adjustments including revaluations, of £1.272.OtIO results from the elimination of the DB scheme pension liability. The parents of N)ils often make significant sacrifices to pay the fees. In doing so they help lo relieve the stale of the finaneial burden of educating 873 UK•ased children. The savry is estimated to have a value in the last year of t5.981.796. The College is unatAe to recovertl)eVAT on purchases it makes. During tr pastyear, P4dingly Coll99• Lld has paid an estimated £1,605.91S in VAT on gotsds and Serv￿5. In addition lo the very substsntial b￿efitS our sthod ￿ingS to ¢yJr pupils. the local community and society through the education we offer. our buwry aTrJ QLrtreath Programrnes create a social asset without cost to Ihe Exchequer. Re$eNes Level and Policy. and Financial Wiability It ￿lI￿n￿&s to be the College's policy to utilise funds to ensure that htgh quality. m¢ylgm facilities are provided for the benefit of pupils. The aim to budget $0 as to promde suftient working capital to meet the present needs and fubJr8 development strategy of the Cc4lege. without being required to sell tangible fixed assets. ¢y to use Ihe Cdlege's readily realisabte investments supporting unfestricted furKIs. Tho Goverrwxs have invested substanlial sums into new College I￿lIdirt9$ in recent years and have an arnbitious prcgramme cl refurbislMnenL devglopnwnt aThJ investment to mainlain excellent teathing faciliiies for our pupils. The College's total reSeTr￿S of £19.2m at the yearond induded £0.3m of endowed funds. £0.8m of restricted funds arKI £18.1m unreslricted desunaled ful￿ts. The College's financial viabiltty does not depend on income reserves but in its abilrty to continue lo trade at a surplus on an annual basis. and on the substantial ptyffolK> of r￿ttd assets held for operaiwol use. The Compan￿5 unrestricted reserve5 are prThrdy invested in t￿ible fLxed assets whth are all used for its direct Charitab￿ activibes. The College doe5 not have. and cannol theref￿e rely on, pemanent endowments. Engagement wlth Suppllers, Customers and Oth•rs In a Business Relationship with Ardingly College Ardingly col￿ge seeks to eTrJage actively and positivety all stskehofders In the local community an¢J In the wder e¢JuCatio￿ landscape. Collaborative reL4tionships with suppligrs, parents. gducational partners and ￿Mmunity ￿adets are seen as key enablers to achieving success in all of the group's operations. Ouring the year the group has fvrtsr promoted this engagemgnt though specifi¢ initiatives induding.. Regular comrwnicath)n and engagement ryth parents and Frospective parents of pupils attending Ardingly College to enhan￿ the understaThJing of Ihe provision to each pupil and to fulty cocidinate supptyl to pupils from parents and schools. Engagernent with other educational (Ygani5ations and pathers at l¢xal national levels to share best pra¢tti to provKJe peer supporL Seekirg regular communicatKJn wilh an suppliers arml ensuring good t>)mmercial practKes of prompt payment and dear corMwJn￿Ii0n to optinise arrar4Jements for Supp￿ of g(*)ds and services to Ardingty College. Promoting and encouraging pupil and staff opwtunilies to engage in local voluntary arKI other proiects to supwt the communty. 17

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (incorporating the Stratsglc Report) YEAR ENDED 31ST AUGUST2022 HOW THE BOARD COMPLIES WITH ITS SECTION 172 DUTY Section 17211) of the Companies Act 2Th)6 {Stslernent of Directorfs Duties lo Stskeholders) ￿qUireS direGlors lo act in good faith to promote the success of the charity for the benefit of its members. and in dI￿ng so have regard (amongst other Matt￿5) to: the likely con5equertes of any dec4sion in the long twm,. the interests of the Charilablo compan￿$ empfoyees: the need to foster Ihe charitsble company's business relat￿nshIpS with supphers. customers arKI others: the impact of the charitable (￿pan￿5 operattons on the community and the environrnent.. the deSira￿lIty of Ihe charitsble company mayrtainiry a reputation for high $landards of business corbduc( aTrJ the need to act fairly a5 between member5 of the charita￿e company. The Direclors welcome the new reporting requirement as an opportunty to explain how dialogue with stskeholders has infornietl and hdped to shape its decisions in womoting the success of the College trj achieve its charitable purposes. As set out on page 5 wilhin "Grcw Structwe and R￿at￿)nShIps. the College has developed links with wkle range of organisatsons to ensure the wtdest FQ5sible a¢￿$$ to our ts¢ilit￿$ aThJ educatw)n. ThrowJh membership of HMC. IAPS, AGBIS arKI IS8A and by neiworking with peer groups we ensure that we are able to attain the huhe51 standaTd5 of oualty and performan￿. Details of how the College has engaged wtth employees and had regard to employee interests can be found within the employment policy on page 6 and employThent consultation on page 19. details of volunteer engagement can be found on page 3. The Direct(xs can demonstrate the promotion and S￿$5 of the chanty for the benefit of the stskehdders thr(KJgh the revw or achievements and perfomance for the year, included within thi8 Strateg¢ Report. The College has conlinued to provpae access to hp3h qualrty academic education as well as pastoral and sock41 support throwJhcArt the year. The College also plays an important role in provi¢Jing activilies t¢y b¢al ¢cnmunty groups and access to its faalitks. The Diredors are reSp￿sIble for strategic planning and policym8￿ng for the College and, accordingly, all key decisions. Ihe current perfom)arKe and (Ulu￿ longer-temi plans of the charity and stskeholders are referred to and tsken by thg Board. The Conege is governed by the goveming body Icouncill which dglegates work lo a number of commiliees. Membership of each committee 15 Outlined on page 21. The Govemors. are also th¢ directors. dete￿Ine the general p)licy of tho company. As Sgt out in the Stral¢gi¢ rep)rt. OLf ￿t[ure. staff. volunteer and pupil welfare and wellbeing, thr1x￿ho￿l the cov1￿19 perK*J has been fvThJamentsl to the ￿ntinUed sutxess of the College. Further inf0m￿tIOn can be found in our Strategic Rew)rt and the detailed reviw of achievements and performance lor the year.

ARDINGLY COLLEGE LIMITED DIRECTORS. REPORT (incorporating the Strategic Report) YEAR ENDED 31ST AUGUST 2022 Finn¢ial risk managemenl Obje￿1¥¢$ and polkl•$ The College uses ffinancial instruments. comprising bans. cash arKI othw IKiuid resources and other items such as trade debtors and (xeditors that arise direcdy from operat￿nS. The main issues ariwng from the group's financral instruments are IMiuFdity risk and Interest rate rlsk. The College's tlirectors adopt policies for managing each dthe risk5 arKI these are summarised below: LIquKIty risk-the CcAlege seeks to manage finanaal risk by ensuring suffioent IM4uidity is available lo meet loreseeable needs by negotiating adequate facilities from banks and other lenders. Interest rate risk - the Cole has mitigated its risk to interest rale l1uctu81￿ts by agreeing one fixed rale loan and by regulaty re¥iewirwJ rash balanees to ulilise early repaymnl otrtions for the variable rale loan. GOING CONCERN The Counul has continued to review any potential irrpad of Ihe global pandern￿ on College operations and finances. As noted earlier in the report. all restric￿onS were lifted before the start of the 2021-22 academic year. Despite this. the virus continues lo affecl 5CtKd operations from time to time, due to irrfeclions in members ol staff and in pupils. School managers and Govemors t￿ntinUe lo work hard to mitigate any potential finanaal impact. The Cole conb'nues to operate al a surplus, with nel income of £761.351 in the year lo 31 August 2022 arKI total funds of £19.2m. Pupil numbers are growing sleadily. th an additional 16 in the year. Having considered all factors and revIe￿n9 the available evidence, the directors have a reaSona￿e expectation that Ihe group wll be able to continue operating for the foreseeable frjture and the finane4al statements have been prepa￿￿ on a going concem basls. Further¢Jetaits related to the adoption of the go¥)g (x)ncem basiscan be found w) the accounling policios on pa9e 31. EMPLOYEE CONSULTATION The Head of the College and other members of Ihe College leadership team meets wfth all staff prior lo the stsrt of eath term to FYOVtde infomalion on matters of Inte￿sv¢(￿cem. including the academic and financial perfomance of the College major caFNtal pioie¢ts being undertaken. The College has a staff consuhative committee called the Staff Council with elected employee representatives fmm across the College as well as key members of the Leadership Team - Ihe Head of the College, Prep School Headmaster. Assistant Head- Pupil Welfare. and Director of People. The Staff Counal meets ￿lce a year and is an opportunty for staff members to raise issues of concem or ideas for improvement of college facilit￿ and working pract￿. The College is keen to encourage employee participation in communution of matter5 of concern to them. On a weekly basis each of the main sCh￿IS hosts a meeting with staff from that school to discuss issues affecting staff and pupils. The Operations Staff team also meet for a coffee break meeting every fortnight where key messages are shared. Where there is any major development affecting the terms and conditions of members of stsff, the College holds consUltat￿n meetings with affected ernployees in advance of any major chan9e strategy in line with the communication and cOnsuhat￿n p￿icY. FUTURE PLANS During 2022-23 the College's principal objective is lo embed th8 new Prep and Sen￿r School struclure lo ensure that il works as intended for the benefft of pupils. Also lo plan f¢x the complet of the reslructure by completing the relocat)n of Key Stage 2 pupils to the Farmhouse site. 19

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT (incorporating the Strateglc Report) YEAR ENDED 31ST AUGUST 2022 Additional aims a￿.. To review and re-articulate the ethos of Cdle9e. To support pupils. wellbeing thrcJgh an open approach to mental health. professional staff resource and consistent use of CPOMS for inforniation sharing and intervenlKJn. To develop the concepl a￿1 ￿re delivery ofworkl Ready for all puplls. Develop pwtnership wcffk lornl wimary sch￿ts. To continue lo sw)port vmder access for local day puplls capabLg of leanNng S￿sSfUlty al Ihe College irrespe¢live of Pa￿nts1 means. To continue lo offer places to chikjren Ileeing fmm extreme hardship and seekNig humanitarian crisis. To continue r&s￿￿ing the indepgndent-ststs parfnorstrmp with lffield Communty College. To ensure bursary award h¢)Id9rs arg well supp)rted through the Partnerships & Bursary Coordinator. Recruitment of putxls the first year ofthe Intemabonal Academrc Pathway In 2023. Conlinue lo explore opportuNts fty Podingty College s¢htr)Is ovets685 and strengtt*ning th¢ ulobal footprint and reputation of Ardingty co1￿9. To ryeate a fvture Suslainabilty Plan for Ihe ColW to meet dimate acti(￿ gw)als. To c(mtinue to develop the qualty of campus facilities to siypcxt first-class e￿Cal￿.

ARDINGLY COLLEGE LIMITED DIRECTORS. REPORT (incorpornting the Strateglc Report) YEAR ENDED 31ST AUGUST 2022 DIRECTORS The directors who serwed during the year. and the committee5 ofvthKh they are members. are: R Haynes Br¢)wn (Chairman) Finance & General Purposes. Estates. Education. Govemance & NominalK)ns (Boarding & Development Govemorl J Amistrong (resigned 6 Odober 2022) S Bradshaw S Champkin G ￿X0ft Education Estatès. Finar￿e & General Purp)ses. Govemance & Nominations. {HeaMh & Safety Govemorl V Johnson D Johnson-Poensgen {resigned 8 March 2022> Finan￿ & General Purp05e$. Eststes. Govemance & Nominations. IICT Govemor) (Complianee and IB Govemor) Education, Finance General PurFrf)ses. Govemance & Nominations. (Safeguarding Govemorl Fnance & General Purposes SK8y L Llndsay E Martin (resigned 13 October 2021) J Martirt F￿an￿ & General Purwses. (IB Governor) Estates R Martin K Sweeney None of the dire¢tors has any beneficial interest in th& company. ￿dIr*JIY Colleg8 purchases trustee$ and officers insuranc8 on behalf of th8 directors. Exemptlons from disclosurn ArdiThJly College hos notlaken thantage of anyexemptK)n frorn disdosure in relatM)n to trustee details. AUDITOR RSM UK LLP. having expressed they v4illingness to c¢￿tInue in office. wll be deemed reappointod for the next finanrAal year in accordance with section 487{2) of the Companies Act 2006 unless the cornpany receives notice under sectp)n 488(1) of the Companie5 Act 2006. 21

ARDINGLY COLLEGE LIMITED DIRECTORS, REPORT {incorporating the Strategic Report) YEAR ENDED 31ST AUGUST 2022 DIRECTORS RESPONSI8IUTIES STATEMEKr The directors are resFM)nsible for preparing the directsrfs retNt and the fina￿￿al statements in accordance with applicable law arvJ ￿UlatIOns. Company law requires the ￿rect￿¥ to prepare financial ststem8nts for eaL financrdl year. Under that law the directors have elected lo prepare the financial stslements in accordance with United Kingdom Generally Accepted Accounting Practi￿ (Uniled Kingdom A¢￿Unting Stsndards an¢J applicable law) wKluding FRS 102. the Finartcial Reportirg Standard applicab￿ in Ihe UK and Republic of Ireland. Under company law the directors must not approve Ihe financol ststements unless they are satisfied that they give a true and fair wew of ￿ slate of affairs of the chari18ble company and the group and of the incoming res(yJr￿s and application of resources. including the incc¥ne and expenditure, of the charitable company and group forthat k)eri(xl. In preparing these financial statements, the directors are required to". select SulL￿le accountwwJ policies and then apply them consistenty. observe the methods and principles in the Charities SORP (FRS 1021: make judgements and accounting estimates that are reasonab￿ and prudent,. state whether applicable UK AcC￿Jnting Standards have been foN¢)wgd, subject to any material departures disclosed arKI ewairbgj in the financial statements.. and. prepare the financial slalgments on the going concem basis unless it is inapproprlate lo presume that the charitsbl¢ ￿MpanY arKI group wdl rJ)ntinue in business. The d1￿ClOrS ao ￿¥￿nsIb￿ IOT keeprvJ adequate aceijunting recxjrds that are suffiaenl to show and èxplarn the charitable compan￿$ and grr￿p,$ transactitins and disclose wilh reasonable accuracy al any time the financial positK)n of the company arxl group and enable them lo ensure that the financial statements compty wth the Companies Act 21>J6. They a￿ also resFonsible for safeguarding the assets of the charilable ￿MParty and group and hence for taking reasonable steps for the prevenlKin and detectK¥n of fraud and ottw wregularilies. The directors confimi that so far as each direclor is ayra￿. thwe is no relevant audit infOrTr￿kn of whK the charitable Company's auditor is unaware: and the direclors have taken all the steps that ought to have tsken as dir￿￿or5 in order to make themselves aware of any relevant audr( informatK)n aThJ to estsblish that the charitsble company's audit￿ is aware of Ihal inf0miatl￿. The directors are responsible for the maintenance arKI integrity of the corporate and financial infom)ation induded on the tharitable company's website. LegiSlat￿n in the United Kingdom governing tha preparation and disseminalion of financial statements may differ from legisLilion in other jurisdictions. Approved by the Board of tlirectOTS of ￿￿ingty College Limiled on 24 November 2022 induding. in their capacty as company directors. approving the Diredors. and Strategic Rep)rts contained therein. and signed on Its beha￿ by: Robert Haynes Brown CH￿R￿AN

ARDINGLY COLLEGE LIMrrED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ARDINGLY COLLEGE LIMrrED YEAR ENDED 31ST AUGUST2022 Oplnlon We have audited the financial stalemenb of Ardingly College Limited (the'parenl charitable Cr￿panY') and ils subsidiaries {the 'group'l for tt* year ended 31 August 2022 wthi¢h wnprise the Consolidated Slalement of Financial Activitses. the Charity Statement of Financial Activitw. the Consoltdated and Charity Balance Sheets. Cortsolidated Cash Fb)w Statement. ar￿ noles to the financial ststements, duding significant accounting pOl￿eS. The financial repwting framework that has been applietl in their preparation is applI￿￿e law and United Kingdom Accwnts'ng Standards, including FRS 102"The Financial Reporting Standard aPP￿cable in the UK and Republic of Ireland- (Unrted Kingdom Generauy Attepted Accounting Pracb¢el. In our opinion the financial statements: give a true arKI fair view ol the state of Ihe group's and the parent charitable compary's affairs as al 31 August 2022 and of the gwp's inefjming resources and application of res¢wr¢gs. induding rts income and expenditure. for the year then ended., havg been properly prepared in accordance wilh United KIn￿rn Generalfy Accepted Awyjnting Practice: and have been prepared in accordafKe with the requirements of th6 Companies Ad 21K6 and the Charitigs Act 2011. Ba$ls for oplnlon We have been appointed auditors under Ihe coM￿leS Act 2006 arKI seciion 151 of tho Charibes Act 2011 and report in accordance with those Acts. We conducted our audit in aCcOrda￿e with Intemational SlarKlards on Auditing IUKI IISAS (UK)) and applicable law. Our responsibilrties under those stsndards are fvrther desuibed in tho Auditorfs responsibilities for the audtt ol the financial ststemerts ￿tion of our report We are independent of the group and parent charitable Company in ac¢tKdance with the ethical requirements that are relevant lo our audrt of the financial ststements in the UK. induding the FRC'S Ethical Standard and we have fulfilled our other ethical resFK)nsibilities in a¢￿Idance with Ihese requirements. We believe Ihal the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Con¢luslons r•lating to golng ¢onwn In auditing the financial stslements. we have concluded that the trustees. use of the going concem basis of accounting in the preparati(￿ of the financ4al statements is aFpropriate. 8ased on the work we have perfOrr￿d. we have not identffied any materbal uncertainties relating to èven15 or ￿nditionS that. individually or collecti¥ety. may cast sIgnffi￿nt doubt ijn the group's or parent charitable Ixjmpany's atwlity lo ¢ontinue as a going ¢on¢em for a pericwj of at least ￿e1ve from when the finarwl ststenwnts are aUth￿l$¢d for issue. Our responsibilities and the responybilitbes of the trLtstees ¥&ith ￿SPect to goiThJ ￿nCern we described in the relevant sections of this rewL Oth•r Inforniatlon The other information comprises the infcmtion induded in the Dire(lors' report (inwrporating Ihe Stratggi¢ rgPOrtI othw than the finanaal stateTh￿nts and our auditorfs report thereon. The trustses are responsible for the other inf¢)mation ￿ntaIned wilhin the OirectOTS' report (incorporating the Strategic report). Our opinion on the finanoal stslements does not cover the olher information and. except to the extent otherwise explKitty stated in our repyL * do not exwess any fomi of assurance condusim thereon. Our responsibilty is to read the other infonnalion and. in doirwJ so. C4)nsider tlthether Ihe other inlomiation Is materialty I￿on81$tent with the finantial statements or our kn¢￿￿ge obtained in the 23

ARDINGLY COLLEGE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ARDINGLY COLLEGE LIMrrED YEAR ENDED 31ST AUGUST2022 ts)urse of the audit or othemse appe￿ to be materially nwsstated. Ilwe hlentify such materk?I ineonsistenues or apparent material misstatements. we a￿ required to detennine whether this gives se lo a material mi5Statement in the ffinancial ststements thernsefves. tl. based on the work we have perfOrn￿d. we Condude that Ihere 1$ a material misststement of this other information. we are required lo report that fact We have nothirg to report in this regard. Opinlons on other matters prescribed by th• Companles Act 2006 In ¢)ur opinion. based on the work undertaken in the course of the aL￿rt.. Ihe infomiion given in the Directors Rel￿. whKh indudes the tlirectors. Report and the strategic Report prepared for the purposes of company law. for thè financial year for which tha financial statements are prepared is consistent with the finanaal statements: and thè Directors. Rewt and the strateg￿ Report included wiihin the DireGth Report have been preparèd in accordance vth aWi¢￿Ie legal rnquirements. Matters on thlch we are requlred to report by ￿CeptIOn In the light of the krK)Wtedge and underslandirvJ of the group and the parent charitsble company and their environment obtsined in the course of the audit. we ha￿ rhol vJentffied material misstatements in the Directors. Repx)rt or ￿ Strategic Rewt ind￿￿ed within the Di￿¢t0￿. ReporL We have nothing to re￿rt in respect of Ihe frAlowiTrJ matters where the CunpaThes Act 2006 and the Charities Act 2011 require us to report to you rf. in our OFMnion= adequale and suffiaent aCCc￿ntIng records have not been kept by the parent charitable ccmpany, or retums adequate fty our audit havo not been received from branth&s not visited by us,. or the parent charitable Company financial ststements are not in agreerrtht with the accA)unting rg¢ords and ￿t￿M$. certan disdosures oflruslees. remun•Jation Spe0￿ bylaw are not mJe' we have not rgceived all Ihe i)fomwtion and 8wanatw￿s we require for our audit. Responsib511tles of trustees As eX￿ained more frjlly in the Statement of Trustees. resFrtXbsthlities set out ￿ page 22. the trusteas (who are also the directors of the charitablo e4)mpany for the purposes of company lawl are responsible for the preparation of the finanual statements and for being salisfted that they give a true and fair view, and for such intemal control a5 the trustees determine is necessary to enable the preparation of financial slatements Ihat we tree from material mi￿￿temen( t*thhelher due lo fraud or error. In preparing the financial statements. Ihe trustees are resp￿SIble for assessing the group's and parent charitable company's a￿lty to conbnue as a going concem. disdosing. as applicable. matters related to going ¢on¢em and ￿￿n9 the g￿n9 con¢em basis of accounting unless the trustees either intend lo liquidate the group or parent dwilable company or to cease opgrations. or have no realkslic altemative but to do $0. Audltorfs responslbilitles for the audbt of the financial statements Our objectives are lo obtain reasonable assurance about whether the fin￿￿la1 ststements as a whole are free from material misstatemen( whether due to fraud or error. and to issue an auditc<s report that cludes our opinKJn. Reasonable assurance is a ligh of assurance. twjt is not a guarantee that an audil ￿n¢JU¢le￿ in accor¢lan¢e with ISAS (UK) will detect a material mis$tatementwhen it exists. Misstatements Can arise from fraud or error and are considered material if, indr￿duallY or in the aggregate. they could reasonably be expected to inlluence the economic d￿aSionS of users taken on Ihe ba￿$ of these financial ststements.

ARDINGLY COLLEGE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OFARDINGLY COLLEGE UMITED YEAR ENDED 31ST AUGUST 2022 Tho ex¢entlo whlch th• audtt was ¢¢)nsld•ff¢d ¢apable of detectlng Irregularltles. Includlng fraud Irregularitses are instances of non-wnp1lar￿ with laws and regulations. The objectives of our audit are lo obtain sufficient appropriale audit evidence regar(ling compliance laws and regulation5 that have a direct effect on the detem)ination of material amounts and ￿￿￿oS￿reS in the financial ststements. lo perform audit pIc￿edu￿$ to help ¥Jentify instances of rn)n-compliance wilh other laws and regulations that may have a material effeca on the financial ststemenls, arNI lo respond appropriately to identified or suspeded nonrycompliance wilh laws and regulaIKK￿ identffied during the audit. In relation to fraLKI. the objectives of ouraudit are to identify and assess the risk ofmaterkel misstatement of the financial statements due to fraud. to oblain suffiaenl appropriate aLKfit evhjence regarding the assessed risks of material misstatement due to fraud through destgning ond implementing appropriate resF¥)nses and to respond appropriatety to fraud or suspected fraud identified during the aud However. it is Ihe Primary responsibility of mwbagemenl. the oversight of those charged with govemance. to ensure that the enti￿S operalions are conducted in atx0rdar￿ with the provisions of laws and regulations and for the preverbtion arKI detection of traud. In identifying and assessing risks of material misststement in resp8Ct of irregularibes, Ir￿uding fraud, the group audit engagement team: obtained an understarKling of the nabjre of the sector. induding the leg81 and ￿gUlatOry frameworks that the group and parent charitable company operate in and how the group arvj parent charilatAe company are comptying with the Wl and regulalory framewo￿$,. inquired of managernenl, and those charged wlth govemance, alY)ut their own IdentrfKation and assessment of the risks of irregularthes, indLKling any known athial. Suspected or alleged instsnces of fraud; discussed matters at￿ul non-LY)mpliance with laws and reguktions and how fraud m*3ht o￿lf induding assessment of how and Twhere the finanrJal slatements may be susceptiblo to fraud. As a resultof the￿ procedures we consider the most signrfKant laws and regulations Ihat have a d1￿ct impact on the finanaal statements are FRS 102. Charitie5 SORP IFRS 102), Companies Ad 20C6, Charities Act 2011 and the parent charitsble compan￿5 govemirbg dorJJmenL We perft)M￿ audit procedures to delecl nortacompliances which may have a material impact on the fin8n¢ial stslements which included reviewing the financial statements induding the Trustees. Rep)rt and remaining alertlo new or unusual transactions which may not be in accordance with the ￿N￿MIng ￿￿UMentS. The most significant laws and regulations Ihat have an inrfirect impact on the financial stslemenls aro The Education {Independenl School StaThJardsl Regulation$ 2014, Keeping Children Safe in Education under section 175 of the Education Ad 2002. and the UK General Dats Proleclion Regulation (UK GDPRI. We performed audtt procedures to Inqui￿ of management and those Charged with yovemance whether the charitable company i¥ in compliance with these L4ws and ￿￿LatiOnS and Insp￿ted correspondence with regulatsy authori￿$. The Group audit engagement team wjentified the risk of managemnt ovwrAJe of Controls ond the risk of revenue recognit￿ for non•fee income as the a￿8$ whtre the financial stalements were most susceptible to material misstatement due to fraud. In reswt of the rlsk of management override of controls. audit procedures performed irbduded but were not limrted to testing manual joumal entries and other adjuslmenls, evaluating the business rationa￿ in rdation to sign[f￿arIt. unusual transactions and transactions entered into wtside the nomial course of tsjsiness and challenging judgments and estimates. In resp8ct ofthe rssk of revenue rec09nrt￿ f￿ ncffl4ee income. audit wocedures performed induded bul were r￿t limiled to Ihe use of analytical review procedures aTrJ testing $ampSes of tran&ictions back to uThJerfying documents1ty￿.

ARDINGLY COLLEGE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ARDINGLY COLLEGE LIMrrED YEAR ENDED 31sfAUGUST 2022 A further description of our ￿spon￿bilItieS for ts audit of the finanaal statements is provkled on the Financial Reporting Counul's websile at h .uklauditorsres nsibilrties. This description fomis part ol our auditorf$ report. U$¢ of our report This report is made soletyto the charitable compan￿5 member5. as a bcAty, in accordance Chapter 3 of Part 16 of the CoMpan￿S Act 2(X)6. thr audit work has been undertaken so that we rn￿h1 state to the ¢hafitable cornpanys members those matters we are required to state to them in on auditorfs report and for no other purF¥)se. To the fullest extent pem)rtted by law. we do not accept or assume responsibility to anyone other than the charrtabte (x)mpany and the charilable companls rneMbe￿ as a body. for our audit work. for ltii5 reprf or for the opirw)ns we have formed. Zoè Longstsff-TyYrell (Senior Auditor) FLY 8nd on behalf of RSM UK AUDIT LLP. Statirtw Auditor Chartered Accountants Portland. 25 High Street Crawley RH10 1BG Date

ARDINGLY COLLEGE LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) YEARENDED 31STAUGUST2022 Notes VrK¢strided Funds Total 2022 Total 2021 Fund5 FLmds Income and endowm•nts from: Charliable ActSvlVe$ School fees ￿￿Vable Ancillary trading irwrr Other tradlny actlyltles Non-ancallary trading inc4Jme Other Ath"vlUes Invèstments Bank and other Interest Voluntary Sourcos Grants and dcnations Oth•r In¢om• 23.907.324 1.171220 23,907,324 1.171.220 21.058.954 1.023.187 1.197.482 1.197A82 965.488 4.957 540 12.609 13.149 12.780 15.737 99.730 752.784 10.4C¥) 23.828,SYJ TOTAL INCOME 26.292.303 26.388.905 Expenditu￿ on.. Ralslng funds Non•ancillary tra¢Jng 1.164.312 1.164.312 985.694 FInan￿r￿j InveStsY￿t management Fundraising and de¥eIopTh￿I 549.))8 549.208 536.020 125.221 12S.221 71.119 TOTAL RAISING FUNDS 1.838,741 1.838.741 1.592.833 Charftablt A¢15¥ltles Edueation and grant makty4J 23.601.750 78,770 23.680.520 22.041.369 TOTAL EXPENDtTURE 25.440.491 78,770 25.519.261 23.634.202 Net gain￿[lO$se$} on ilvesbnent assets 13 {107.4971 1796) 1108.293) 260,148 Net 1n¢onW(eXpend￿rèl 744315 17.832 1796} 761 J51 454.496 Transfers be￿en fiJnd$ Other rttognls•d galnsllloss•sl Pension SLeff aduarial gains Not Movement in funds for the y•ar FuThJ balane85 at 1st S8Ptemter 23 25 1211.W) 1.211.OlJO 12,000 1.955.315 17.832 1796) 1.971351 466.496 16.133.084 272.751 17212,399 16,74S.903 FUND BALANCES AS AT 31ST AUGUST 18.088.3*3 824,396 271,955 19,184.750 17.212.399 All amounls relate to o)ntinury actyvibes. All rewjnised gaIr￿ and 1055es in the rJJrrenl and priw year are I￿lUded in thè slatemenl of ffinanclal acbvities. The notes on pages 31 to $8 k)rni part of these finan￿1 statements. 27

ARDINGLY COLLEGE LIMITED CHARITY STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) YEAR ENDED 31ST AUGUST 2022 2022 2021 Funds Funds Funds Income and endtybn•nts from: Charitable Actlvltles School fees ￿¢￿vable Antsllary troding irKo Other tradln9 ac¢l¥llles Non-ancillary irading inccffl8 Other activrfie$ Inv•stm•nts Bank and olher interg91 Vduntary $our¢e$ Grants and d0vats.￿S Othèr Ineomo 23.907.324 1,186.720 23.907.324 1.186.720 21.058,954 1.038,687 228.815 228.815 247.093 4,957 523 12.609 13.132 12.766 15,737 83.993 99.730 752.784 10,400 23.125.641 TOTAL INCOME 25,339,119 25.435,721 Expenditure on: Raising funds NoTrancillary trading Other income 9gnerating a¢livibes FlnantsrrfJ eosts Investment managernent Fundra15irKJ and de¥dopThnl 538.993 538.993 527.804 125.221 125,221 71.119 TOTAL RAISING FUNDS 664,214 664.214 598,923 Charltable Actlvltles Education and granl making 23,599.577 78.770 23,678.347 22.038.599 TOTAL EXPENDtruRE 24,263.791 78.rn) 24,342.$61 22.837.522 Nèt gainsll1955¥s} C￿ invgstsn￿t 13 {107,4971 {108,293} 260.148 N•t In¢ortll•xp•ndlluTO1 Transfers botsveen funds 7,831 17.832 984.867 748.267 other recogn1￿d galnslOo$$esl PeTr￿on stherne actuarial gair Net Movement In lunds forth y•ar Fund balances at 1st Septenknr FUND BALAMCES AS AT 31ST AUGUST 25 1.211.LThX) 1.211.000 12,000 2.178.831 17.832 (T%) 2.195.86T 760.267 16.855,614 272.751 17,934,929 17.174.662 19.034.44S 824,396 271.955 20,130,796 17.934.929 All anK)unts relate lo contiThJing actiwties. AJI ￿C£￿3n1$ed gains and losses hi ¢f ujrrent and prKJr year are in Ihe statement offinar￿1al ath'vitses. The rw)te5 on p•￿S 31 ) 58 form part of Ihese financ4al slalemerhts.

ARDINGLY COLLEGE LIMITED CONSOLIDATED AND CHARITY BALANCE sHE￿s ASAT31ST AUGUST2022 Not• Group 2022 Charlty 2022 2021 FIXED ASSETS Tangible assets Se¢uritie5 Investments Inve5trnent in SLthidiaries 12 13 30,551,067 1,11 5,433 28,715.4¢XI 1,223,726 30.551.067 1,115.433 28.715.41XI 1.223.726 31.666.500 29,939,126 31.666,503 29,939,129 CURRENT ASSETS Stock Debtors Cash at bank and in hand 67.636 840,839 5.171.135 6.079,610 79,725 465.230 4222.618 4,767.573 57,158 1.838,142 5 033,643 6.928.943 73.137 1.322.012 4.010.708 5.405.857 14 CURRENT UABILMES C￿ditorS payable wtthn one year 15 (10.805,199) (5.457.858} (10.708.489} {5.373.6151 NET CURRENT ASSETSI{LIABILmES) {4.725.589) 16WJ.2851 13.779.546) 32,242 TOTAL ASSETS LESS CURRENT LIABILITIES LONG TERM LIABILITIES Creditors payable after one year 26,940,911 29,248,841 27,886,957 29,971.371 16 {7.756.061) (10.764.342) 17,756.061) (10,764,342) TOTAL NEf ASSErs EXCLUDING PENSION LIABILITY 19.184.850 18,484,499 20.130,896 19,207.029 Net pension liabilty {1,272.000} 11,272,000) NET ASSETS 19.184.850 17212.499 20.130.896 17.935.029 REPRESENTED BY: CALLED UP SHARE CAPITAL 1¢10 100 100 ENDOWED FUNDS RESTRICTED FUNDS UNRESTRICTED FUNDS General reserve Pension reseNe 21 21 271,955 824.396 272.751 271.955 824,396 272.751 806.564 21 25 18.088.399 14.861.084 1.272,1K)o 19.034.445 15.583.614 1.272.000 19.184.850 17.212.499 20,130.896 17.935.029 The finarKlal ststements approved and aulhorised f¢Y i5$ue by the Board on 24th November 2022 ar¥J signed on tts behalf by.. Robert Haynes Bmwn CHAIRMAN Company regtstrabon nurr*w 03779971 Th& notes on pages 31 to 58 form part of these financial statements.

ARDINGLY COLLEGE LIMITED CONSOLIDATED CASH FLOW STATEMENT ASAT31STAUGUST2022 2022 £'ooo 2021 £'ooo Notes Cash Ilows Irom operntlng activities: N¢t cash provlded by {u$ed In) operntlng 4¢tlvlties 4 582 971 3 283.233 Cash flow$ from inve$ling a¢tiviti•$: Dividends. Inte￿$t and ￿nIS from investsments Proceeds from the sale of propety. plant and equipff*nt Purchase of property. plant and equipment Less project sperKI written off Net ¢a$h provided by lus•d in) investing activit￿5 Cash flows from financing actlvllles: Repayments of borrowing Cash inflows from new Financing costs Nel cash prOvId￿ by (used In) finandng actlvltles Chang• in cash and cash •quival•nts in th• year Cash and cash equivalents at tho beglnnlng of the year 13.149 12.780 10,400 11.385,039> 86.524 13.998,79n {3,985,6481 11,275.335) {206.6901 1.107.092 (549.208) 351.194 {192,1931 1.139,908 {536,0201 411.695 948.517 222.618 2,419.593 1.803.025 Cash and cayh equlvalents at Ihe end of the year 27 5.171.135 4.222.618

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 ACCOUNTING POUCIES The prinapal accounting policies. ￿1 of which have been applied consistentty throughout the year and Sn the preceding year are: 01 Basls of Accounllng The aC￿Unts of the group have been prepared under the Companies Act 20C6 and in accordancg With the Statement of Recommended Practice for Charities {'SORP IFRS1021'1 and w>th applicable UK A¢￿Unting StsrKlards. They are drawn up on the hislorrAI c05t acC￿Jnting basis except that Fyoperty and sh¥e investments held as fixed assets are Carried al fair value. ArdiNJly College meets the definit￿￿ of a publ￿ beneffit entity under Financial Reporting Standard {FRS} 102. Assels and liabil￿e$ affj iniliany recognised at histori￿1 ￿$t or transaction value urdess Otherwise stateii in the relevant actxwnting pdicy noles. The preparation of finantial statéments in confomity FRS 102 requiw mana9gment to make judgements. estimates aThJ as5umpb.ons that affect the application of policies and reported amounts of assets and IFabililie5, income and expenses. The estimates and associated assumpkn'on5 are based on historical exKwTrence and various olher factors that are believed to be reasonable under the Circumstar￿e$. ts resutis of vthi¢h fomi the ￿1$ of making the judgements a￿Jt carying value5 of assets and liabilities that are not readily apparent from other sources. Actual results may drffer from these esbmales. Further details are provbyed in note 33. and in the acc¥)unting w)licies for dweciaknon of fixed assets, for pensions and for bad debts. The financial statements are presented rn stet1ing 1£) and the fundional currency is sterfing (£). bl Golng Con¢em Th8 accounts have been Fyepared on a gory concem basis. The Ardingty College Board reviews the financial infom)ation for the company and the group and considers whether the group and company are a wing ￿nCern for a peric¥J of at ￿ast 12 months from the date of approval of the accounts. The goveming body has continued to review any potential impact of Ihe global pandemic on school operations and finances. As noted earlier in the rewrt, all restricti.ons were lrfled before the start of the 2021-22 academic year. Despite this. the virus corttinues to affect school ¢)perations from time to time due to infectws in members of staff an¢J in pupils. School managers and governo￿ continue to work hard to mitsgate any kK)tento1 financial impact. The Collège ts)nlinues to operate al a surplus. wth net income of£761.351 in thg year to 31 August 2022 and total fijnds of £19.2m. Pupil numbers are grwng stèadily. with an additional 16 in the ye8r. Having eonsidered all Ihe factors and reviewiry the available evidence. the directors have a reasons￿e expectation that the 9roup has adequate resources to conlinue operating for the foreseeable future and the financial stslements have been p￿Pared on a going wrtcem basis. c) Group Accounts The finan¢i81 statements consolidate the financial statements of the company. and all its subsidiary companie5. charitable trusts and funds vnth all inter-company balancgs being eliminated. Entities are consolidated where Ardingty COl￿e exercises overall witrol either through ownership of shares. or through having common trustees wth a common obieclive. A￿untIng policies are consistenty applied belween group tr)mpanies. dl School Fees RKelvablo and Slmllar Incomè Fees receNable and other educational income ar8 a￿Unted for in the peri¢>J in which the service is provided. Fees receivable are ststed after dedvcting allowances, scholarships and other remissions by the school. but indude contributions r￿1ved from restricted fvnds for scholarships. bursaries and other grants. Fees in Advance Schemg Contracts are those fees received in advan￿ of education to be provided In future years under a specffic contract. The fees are either held as investrnents in interest tearirrfJ assets until tsken lo income to match liabilities in the term when used. or refunded. or Ihey are held wthin the unrestncled ieseNes of the school. Any surplus of assets over liabilities is held within the hjnd as a buffer. Debts are provthd for rf not recovered within one terni. EstIna￿ amunts to provide against 31

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST2022 recovery ofdebts is a matter ofjudgement. e) Anclllary and Northclllary Trading Incomè Ancillary trading in¢>)me ￿preSe[ts amcMJnts from actsvit￿$ to 98nerale funds within the charitsble objects, for example schcrf)I shop Sales. coaches to and from school and school trips. Non-ancillary trading InC￿e represents alr￿nIS from activities not diredy related to the charitstAe obsects. for example lettings Of5LKh￿ facilities oul of term time and rental from spare school buildings. Income from these actsvit￿S 15 recognised in the Statement of Financial Activities when the goods are sotd or servKes provided. fj Voluntary sources. Grants and Donatlons Voluntary inwming resour¢e$ are o￿nted fty as and when entitlement arise5, the amount can reliably be quantified and the economic benefit is considered probable. Voluntary Ir￿oMe for general wr￿Se$ 1$ 8￿nted for as unrestricted and is credited to the General Reserve. Where the donor or an appeal has imposed trust law restrictic￿$. voluntary income is redited to the relevant restricted fund aThJ incoming erKlowments afe accounted for as pemianent trust caimtal or expendable trust capital. according to whether the donor intends retention lo be permanent or not Gifts in kind a￿ valued at estimated open market value at the dale of grfi. in the case of assets for retent￿n or consumption. or at the value to the school in case of donated Ser￿e$ ty faolilios. g) Expendlture Expenditure is acc¥ued as S(￿ as Ihere is a cirtraLual ot4bJaticffl or a liability is considered probable, discounted to present value for longer term lia￿lItieS. Expenditure is allocated to expense headings either on a direct cost basis or apwlKJned according to time spent. The irre¢overable elementofVAT És induded with the item of expense towhich it Telales. Bad debts are provided for in accordance with the group bad debt ￿l1¢y. The c05t of refurbishing and converting existin9 buiklings is written-off in the year in wh￿h it i% incurred except where the usefvl lrfe has been exiended. h) Finance and Other Costs Other costs include amounts ac%ru￿ in accordance withthe temis of Fees in AdvarKe Scheme Contracts. il Pension Costs Following a ￿)nsUltst￿)n with leaching slaff, the College withdrew from the Teachers, Pension Scheme on 111 January 2021 and all teathing stsff were enrolled in the Aviva Pension Trust for Independent S¢hools IAPTISI: a defined contrilyJtM)n scheme. The College also has a ¢losed deffirEd beneffts scheme for non-teachiThJ staff. Contributions to the Scheme a￿ made in accordance with the recommendations of independent actuaries and are Charged to the Statemenl of Financkgl Activrties as they are incurred. In addition. under the provisions of FRS102, the a¢luarial Ikgbility of the Sthemè is mviewed annualty and provision is made for ary actuarial deficit arising. The assets of the Scheme are held separatety from thg company in an indewnd?nlly ministered lurKI. Contributions to the defined contributh)n scheme are charged to the Stslement of Financial Actsvities as they are inrjjrred. The company recognise5 a liability measured as the present value of the contsibutions payable that arise from the deficit recovery agreement and the resulb'ng expense in the income and expend￿Ure account i.e. the unwinding of the discwnl rate as a finan￿ cost in the pericJ in whth it arises. Further detail is in note 25. j) Temilnatlon ¢osts lor staff Temiination payments stsff indude redundancy payments. ex-gratia payments and pay in lieu of notKe. Costs are accounted for in the period in w￿ch payment is made. of agreement is finalised. rf eartier.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 kl Tongibl• Fixed Ass•ts and Depreciati¢ In accordance with S8ction 35.10 {dl of FRS102. ArdirKJly Cole has elected lo use the canwng value of any of the ab)ve freehold land and buiklings previousty carried at a valu8tlon, as their deemed ttjst at the date of transition to FRS102. 1 September 2014. Tanglble fixed assets are stsled * cost less deprecialion. IndrvJual eapilal items. or projects. with a value greater than £10.OLX) are capitalised. Assets in the course of construction are stated at cilst less any provision lor impaimient. They are transferred to completed assets when substantially all of the activibes necessary to get the asset ready for use are complete. Vvhere appropriate cost indudes our (y•m lab)ur e05ts in to conStrL￿t￿￿, d1￿CtlY attributable overheads. Where tangib18 fixed assets have been acquired wilhthe 24d of specific grants thay are W￿uded in the balanc& sheet at cost and depreciated over their expected useftjl econom￿ lif8. The related grants are Credit￿ to a restricted fixed asset furKI lin the statement of financi81 acllvities and carried forward in the balance sheet). The deprectation on such assets is charged In the ststement of finanual activities over the expected useful economic lrfe of the related asset on a basis ¢onsistent with the depreciation polKy. Depreciation is wowded at rates calrJJlated to V•Tite off the cost, less estimated residual value of each asset based on current rnarkel prices. over ￿$ expected usefvl lrfe, as follows: Freehold tand is not depreaated Freehold Buildings= - Variable acc¢xdiNJ to the building and written off over the expected useful life {see paragraph below) - Over the useful economic lrfe of the improvement - Overthe shorterof the economic life ofthe asset orthe lrfe of the lease - (￿er the e(x)ncthic life of the assel - 25% on fJ)sl - 10%oncost - befv4een 5% and 25% on cost - 25% on cosL Freehold improvements Leasehokl land Leasehold enhar￿efflent Computer equipment Telephone system Fixtures and fittings Motor veh*Jes The company has rewewed its tangible assets. which coffprise land, burfdings and initial fixtures and fittirKJs. The company undertakes an annual review of all buildtng5 assessing their useful economic life. In some Cases the useful ecnnomic hfe of a building is anticipated to be of ￿nSiderable length. often in excess of 100 yea￿. The buildings are capitslisod in the ffinanoal statements at historic cost. Where the cal￿181ed dep￿Clab0n ¢harg8 is a material figure. it is tharged in these finanaal statements but, wPffte the carrwng value is r￿t more than the estimated recoverable amount and the depreciation on the building is not material to these financial statements. it has been assessed. but not charged M the basis that it is not malerial. The directors will continue to cary out annual assessments of the recoverable amount and Ihe estimated useful lrfe of all buihliTrJs arKY where the depreciati(￿ is a material value. it will be charged. The review is based on the director5, assessments of the mark&tvalue ond the future onomtc b8nefrt dorived from an asset versus its ￿rryIng value in the finarKial statoments. When th& Company undertakes a signffieant refU￿r$hMeTht projecl that vrill have an O￿nOMiC benefrt. th& ￿$1 of the refurbishment is capitalised. recorded separately under 'Freehold Improvements., its usgfvl lrfe is estimated and it is depreciated over that useful lrfe. No d?preoation is F>rovided for in respect of irNeslment woperties in atxx)rdance Section 16 of FRS102. Such properfies are held for their investment potential and not for consumplion within the tyjsiness. Investsment pKoperties are stated at their fair value at the balance sheet dale. Ardingty Colkege exercises judgement in sewon of aprxowiate rates for depreciation of f￿e￿ assets, for matters of irnpaim￿nl. 1> Financial Instruments Ardingty College only has financial assets and finawal liabilitss of a knnd that qualrty as baslc financial instruments. Basic finantial instruments are Initialty recognisgd at transaction value arKI subsequently measured al their settlement valve the exception of bank loans which are subsequenty measured at aTh¥)rt￿l cost usirnJ the effeth.ve interest method.

ARDINGLY COLLEGE LIMrrED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST2022 ml S•eurftles and F¢e$ in Advane• Investments Securities and Fees in AthTan¢e invests￿ents are Carried al fair valu8. ￿1¢h is deemed to be market value a5 at the balance stret date. Unrealised gains arKI losses ari￿ng on the revaluation of investments are creditecl or charged to the Stalemenl of Financial Ath"vities and are allocated to the appropriate fund according to thg'ownership. ofthe underfwrffJ assets. Realised gains and105ses are the drflerence be￿een sales proceeds and opening market value where the investmenl was held al the beginning of the year, or sales proceed5 less cost of twrthase vthere the investment was acquired in the year. The revalualhin reserve rellects the accumulated total of Un￿alISed gain$ 8nd losses. Uninvesled cash is the balano of liquhl cash. held as an inveslmenl. which has not been invested in securities. n) Stocks Stocks comprise stsff UlNfomi. consumable stcrfes and goots held for resale.. they are valued at the lower of cosl and net realisable value. ol L•aslng Commllments Assets held under finance 18asgs a￿j purchase ￿ntracts arn capilalised in the balance Sheet and are depreoated ¢)ver thoir usefvl lives or the period of the lease whichever is the shorter. The interest element of Ihe obligal#)ns is charged to the Statement of Financial Aclivits over the PerK￿ of the lease. Renlals appIl￿ble to operating leases where substantially all of the benefits and risks of O￿TShIP remain wth the lessor 8re charged lo Ihe Stslement ol Financial Activities on a straight4ine basis over the I￿e temi. Lease irttntives are accounted ￿ over the lease tenn on a straigm-lino basis. pl Fee Deposlts Refundable fee deKx)sits are cuffenlly cAassified between long term and short temi in the financial statements. These deposits are refundable in the event that the pupils leave a school on one term's notice and as suth Ihe dew)sil woukl be refunded to the parents at thal point. However. the finawal ststeff*nts a￿ prepared on a goiro concem basis and rt is assumed that the majority of chiMren will remain in school for their full years of education and therefore the deposit will be refunded to them when they leave sdxd. Short term deposits reflect those pupils that wll be leawng a sdwl WTlhin one year. and the longeT4erm element reflects those pupils that wtll beloaving a str￿>1 after 12 months from the balance sheet date. ql Fund Accounts Endowment funds are sut4.ect to spe￿￿ condibons by dcffiors that the ¢awtal must be maintained by the charrty. Endowment funds are further sUl￿d￿lded into pemianent and expendable, where required by the terrr￿ of the trust. Restricted funds are sufyect to SFeufic condithjns by donors as to they may be used. The purposes aNJ uses of the reslrided furKls are set out in Ihe notes to Ihe financial stslements. Designated funds compYTse fun¢ts which have been Sel aside at the discretion of the directors for specific purposes. The pur￿￿eS and uses of the designated funds are set in the notes to the finanryal ststements. r) Taxatlon diryly Cc4lage a registered tharity and as such is exerryt from inC￿Me tax and corporation tax und8r thfj protsisK)ns of S8¢tion 478 of the Ctypor8tion Tax Act 2010. There is no sirnilar exemptK)n for VAT, whith is indu¢Jed in experHliture or in the cost of assets as appropriate. The College has subsidiary ¢cthpanies wl¥ch are subject to taxe5 induding cort#yation tax and VAT in the same way as any commercial or9anisation. The tax char9ed to the profil and loss account is based on the subsKliary mmpan￿S profrt for the year arKI takes into account lax . arising because of timirKJ differences between Ihe treatment of certain items for tax and accounting wrwses.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 Taxation (continued) The subsidk8ry companies dislribLrte tho majority of their profits to ArdIng￿ Cdlege under Gift AKI arKi tax liabifilies a￿ kept to a mininwm. 2. CHARITABLE ACTMTIES - SCHOOL FEES RECENA8LE 2022 2021 The s¢hool fees income c(ryises Gross feos Less: Totsl scholarships, burwies. elc 26.454.556 12.555.232) 23.473.911 (2.414.957) Adtj back: Stholarships. Grants etc paid for by Restrided Funds 8,000 23.907.324 21.058.954 Scholarships. bursaries and other awards were paid to 272 pupils12021.' 291 pupils). Within this. means-tested bursaries ￿ling £533.432 paKI lo 42 p￿lIS (2021: £554.708 10 47 pupils). 3. CHARrrABLE ACTMTIES- ANCILLARY TRADING INCOME 2022 2021 608.337 88.461 124.105 48,S54 301.763 617.613 67.755 81.336 54.726 201.757 Entrance fees and registration fees Pupil transFM)rt Commissions and related kncome Sundry other inry)me 1.171.220 1.023.187 4. OTHER TRADING ACThTIES 2022 2021 Non4nclllary tradlng Income Ardingly Projects Limited turnover Ardingly College Intemational Limited iumover Rents r￿e1Vable Interest re¢eNable- wpil 1.007.774 87,500 95.879 6.329 778,145 70,000 117,343 4,957 1.197A82 970.445 Ardingty Prqects Linyted turrv)ver rKludes £859.731 of lettings income {2021: £730.628>.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 S. INVESTMENTS- BANK AND OTHER IPtrEREST RECEIVABLE Total 2022 Total 2021 Bank in¢ergst Other interest 17 523 17 13.132 14 12,766 12.609 540 12.609 13.149 12.780 6. OTHER. GRANTS AND DONATIONS UnreslrKted ReslrKted Total 2022 Total 2021 Sundry Bequests & Donations Govemmont Fundi 15.737 83.993 99.730 380.768 372.016 15.737 83.993 99.730 752.784 Govemmenl funding of £372,016 in Ihe 2021 comparatNe figures represents CJRS grant receipt$ for staff fvrltyJghed as a resutt of Colege closures durry the parKlemK.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST2022 7. ANALYSIS OF EXPENDITURE al Total expend1￿re Staff ts)sts Support Deprea￿( Totsl Totsl (￿te 9) (Note 12) 2022 2021 Costs of ralslng funds Non ancillary trading Olher income generat activities Financing cost {rtote 8) Investment rnanagement FundraisiryJ and development 7LKI.691 463.621 1.164.312 985,694 549.208 S49208 S36,020 88.067 37,154 125221 71.119 Total ¢o$l of gonoraung funds 788.758 1.049.983 1,838.741 1.592.833 Charltable •xp•nditur• Teaching Welfare Premises School admini51ral*)n Grants awards and wizes {note 7bl 11.087.553 1.468,999 1.587,630 1.162.354 1.189.529 1.452.748 2.345.804 1.156.132 23.995 378.891 1,625.997 12.655.973 4.547,744 3.992,074 2,418,088 23.995 11.463.852 4.017,745 4.088,789 2.414,035 9.161 99.602 42.646 42.646 47.787 Educatlon and grant maklng 15.3(ffj.536 6.210.854 2.163.130 23.680,520 22.041.369 Total Expenditure 16.095,294 7.260,837 2.163.130 25,519.261 23.634.202 37

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST2022 7. A14ALYSIS OF EXPENDITURE (Continwl) bl Grants, awards and pri Ardingly Cdlege makes awards to irKlivKJu* lo sly￿1 schooling. 2022 2021 From Restrlcted Fund$: Prizes and lewng awards Frt)m Unre$tri¢ted Funds: Prizes and leaving awards 21.600 9.161 2.395 23.995 9,161 c) Total resources expend•d includ•: Ardingty College reimbutses govemor5 for ouiryofytht exp￿￿eS including travel subsislenca and accommodation, vthere a daim is made. No govemors were reimbursed dumg the ygar12021: 1). 2022 2021 Remurwation paid to aucrrtor for audtt ser4ices Remuneration paid lo auditor for non-audil seTh Depreciation of tangib￿ fixed assets.. - owned by the Charitable Company {PTofrtyloss on disposal of r￿ed assets Operating lease rentals.. - other assets Cost of sto¢￿inVentOrieS recognisèd as an expense in the period Relmbursement of pe￿onal expenses to gjvemors 31A90 35.400 3,600 2,163,130 2,134,694 (10.400) 92,325 1.013,351 69.506 705,529 48 8. FINANCING COSTS 2022 2021 Bank interest payal)le Bank charggs Other finance costs Proviston lor bad and doubtful debts 393.586 45.788 5.279 104,553 369.953 33.300 37.678 95.089 549.208 S36.020

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST2022 9. STAFF COSTS 2022 2021 The aggregate pa￿1 costs th8 year we: Wages and salaries Social security (x)sts Other pension costs Terniination payments 14.001.494 1.240.670 674.760 178,370 12.734,203 1.135.752 1.038.980 55.726 16.095294 14.964.661 Induded in staff rnsts arg redundancy or terniination payThts totallir& £178,37012021: £55.7261. The amount ¢yrtstanding al Ihe yearnd was £nil (2021: £rMI). None of the governo￿ receNed remuneration or other beneffts from Ardingly College or from any connected t)dy. The Head of College. Head of SenTh Sthool. Prep School Head and the Director of Finance Ibetsveen 01101122 and 3110812022) are das5ed by the College as bwNJ the Key Management Personnel. 2022 2021 Aggregate ernployee tenefits of key management pers(KThl 642.780 780.058 The number of h3her paid employees whose annual emdurr*nts were £60.0￿ or MO￿ was.. 2022 No. 2021 No. £60.001- £70.Crt)O £70.001- £80.000 £80,001- £￿.000 £90.001- £100.OCKI £100,001- £110,000 £220,001- £230,0th) £230,001- £240.CNXI 10 The number with le￿￿ment beneffts accrury.. - in Defined Contribution schemes was 14 Of which the c¥)ntribulK)ns amounted to £203,725 . In Defined 8enefft stheM￿ was Of wfiicti the contributions amtyjnted to For 2022 there is one {2021'. one) ￿ployee eanung over £60.0(K) per year who has thosen not to participate in a pension stheme.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 The average number of tyoyees during the year Cal￿1aled on a head count basis. was 459 12021.. 454) 2022 No 2021 No Teaching Welfa Premises Suprx)rt 0￿r 8CtMties 151 111 147 116 40 79 72 75 454 10. DIRECTORS None of the directors (or any persons connected with them) r￿eNed any remunerabon during Ihe year. Scholarships tolalling £3.778 We￿ awarded to chiklren of one dire¢trrf att8nding the school 12021: £3,478 to children of one dlreclorl 11. TAXATION The company is a regi8tered charity and Iherefore no liabilty to taxation arises on its charitable activities.

ARDINGLY COLLEGE UMITED NOTES TO The FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST2022 12. TANGIBLE FfxEDASSErs Grnuplnd company Vhd Co At 1&8eplthTthr 2021 AOdrfKJns DistKlsaL4 26.771.487 1.W234 1.120.T 388.925 3283.687 72C244 2375.168 341.025 3S.059 39.823.719 3.998.797 {11.249) X1(6 PO.3521 1.W.368 11.918.473) At31Augwt2O22 26.TII.4U7 4.186.V27 2.w.ns 7.415.9J4 2.Y&lOJ 3rnLW 43.780.915 O•pr•elatknn At l￿Septeffiber20Z1 Chwge torthe>r 4.135.￿6 8$1. 538.719 rJJ.11r2 1.367.OTJ 47S.7YI 130.352) 25&321 4ZW) 11.108.319 2.163.130 141.601) {11249) At31Augllt2022 4.987.356 n8.B21 SJ43245 1.831515 297,911 13.229.848 N•t bookvAlue at 31 Augu6t20Z2 NeibLJk vaueat 31 2021 14 1 120 1 ￿(P)S 85704 28 71540D

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31ST AUGUST2022 13. SECURITIES INVESTMENTS Investrnents 2022 2021 Group kbve$tments At 1 September Unrealised gainsl(losses) investments 1.223.726 (108,2931 %3.578 260.148 Group Inv•slments at 31 August lnveStrr￿nt in subsidiaries 1.115.433 1,223.726 Company Investments at 31 August 1.115.436 1.223.729 Invastm•nts compr1￿. Llsted Investments Equities 1.11S.433 1.141.480 Cash 82.246 Group Inv•strn•nts at 31 August Investrnent in subsidiaries 1.115A33 1.223.726 Company Inv•stm•nts al 31 August 1.115.436 1.223,729 Ardingly College owns all of the share capital of Ardingly Proiects Limited. a c￿npanY irKoTporaled in En9landWales and Ardingty College Intemalional Limited. a company irKorporated in EnglandNVal8s. Furlhgr delaib are Prov￿ in nole 32. In addition to the above inveslments. cash baances within the Fees in Advance Scheme are Ir￿luded in current assets as cash deposits. The main Securities Imieslments are held on behaff of A￿[n9￿ College by Hargreaves Lansdown. All investments a￿ managed within the UK. Holdings al Ihe year-end o)mwswvJ Thmxe than 5% of the totsl are: Legal & G*noral US Index FSSA Asia Focus iShar$s US Equity Index Jupiter Strategi¢ Bond Inves¢0 Tacttal Bond Legal & General Future Workl ESG 82,531 70.149 69.749 63.288 57.204 56.819 42

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 14. DEBTORS Group 2022 Company 2022 2021 2021 S¢h¢)ol fees receivable Trade debtors Other debtors Prepayinents and acc¥ued intr)me Amounts due from subsidiary company 146.275 263.7S7 123.874 306￿33 118.824 46.460 24.238 275.708 146.275 7.155 123,874 308,441 1252,397 118,824 24,238 275.708 903.242 840.839 465.230 1.838,142 1,322,012

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31ST AUGUST2022 15. CREDITORS: amounts falling due within one year Group 2022 Company 2022 2021 2021 Bank roans and ovwdrafts Deposits from parents Fees rgceived from parents advance of lemi Trade creditors Taxation and $odal Se￿ity Other creditors Fees in Advance Scheme Accruals Deferred income 4.219.084 807.505 3.201.036 206.689 434.542 2.560,496 4.219.084 807.505 3.201.036 206.689 434.542 2.560.496 651.25S 408.3n 158.126 136.311 1207.197 16.312 675,852 309,459 265.034 280.2n 723.399 2.110 633.505 392.179 150.265 136.311 1.168.604 645.106 303.062 264.412 280.277 679,031 10.805.199 5.457.858 10.708.489 5.373.615 Ardingly Cdleg8 has an existing bank k)an from LWS Bank Plc. The h)8n is se￿red against the College campus at a rale of interest of 5.845% over base rale and is repayable over a term of 25 years. A second loan was establÉshed in 2020 with Lloyds Bank Plc. The loan is for a maximum of £4m, wth interest onty payable lor a peTiLxI of years. at a rate of 1.08% over Ihe offici81 bank base rate of the Bank of EnglaThJ. The loan ft￿ly drawn ¢Sy•m in January 2022. Pension conlributions outstaThJing at the Year￿nd tolalled £221.621. 16. cRED￿ORS. wnounts falllng due after one Group 2022 Company 2022 2021 2021 Bank roans and overdrafts Dep05ils from parents Other credrtors Fees in Advanee Scheme 5.276.351 2,373,245 8,388.344 2.244,496 5.276.351 2.373.245 8.388.344 2.244.496 106.465 131.502 106.465 131,502 7.756.061 10,764.342 7.756.061 10.764,342 Parents pay lo the school a deposit c1£2.0(Kl or. in the case ofparents INing overseas. a sum equal to one tem's fees in advance. The money may be retumed. Su￿ect to specthc conditions. on thè receipt of a full tem's notice. £1.000 of the derM)Sit is applied againsl the first temi's fees. than, assuming that the pupil remains in the scho￿. (which the vast majority do based on historical Inf0m￿tion), refundable de￿Sits wll be app￿ed against the final teffli's b￿1.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 17. BANK LOAN 2022 2021 The bank k)an is r8payatye in I￿lments Due after 5 years Due wthin 2to S years Due wthin 1 to 2 years Due after nK¥re than one year Due within 1 year 4,261.197 782.920 4.535.654 3.633.605 219.085 8,388.344 206,689 5,276,351 4,219.084 9.495A35 8,595,033 18. FEES IN ADVANCE SCHEME Parents and others may enter into a contr8cI to pay for fixed (YA)tributions towards pupil tuition fees for a number of years in advance. The money may be retumed subj.ect to spetsfic conditions on the receipt of notice. Assum¥)g pupls remain fft tr schocl, fees in advan¢e will be applied a$ follows.. 2022 2021 After 5 years Within 2 10 5 years Within 1 to 2 years 54.553 51.912 52.280 79.222 Due after more than one year Within 1 year 106.465 136.311 131,502 280,277 242.776 411,779 Summary of moveThnl$ In Il•blllty Balance at 1 Septents 2021 New Contracts Repayments Amounts used to pay fees •lrnount accrued to contracl as debt financing cost 411.779 127,630 (301.9111 5,278 Balan￿ at 31 August 2022 242.776

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST2022 19. COMMITMENTS UNDER OPERATING LEASES Thè future mininwm commilm8nts under n(￿￿¢0n¢8l18bl8 operating leases are". 2022 Within 1 year Within 110 5 years After 5 yea 85.845 107.241 76,748 174,112 193.086 250.860 20. SHARE CAPITAL 2022 2021 Authorlsed 100 Ordinary Sh¥es of£1 gath 10D 100 Allotted, called up and fully pald 100 Ordinary Shares of£1 eath IOD. 100 The Companys ordinary shares each the rKJht to one vote at general meeting$ of the Company. Thefe is no right lo r￿ed income ￿ a distribution on wirKIing￿p.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31ST AUGUST 2022 21. FUNDS Ardingly Coll89'$ funds are analysed under the following headmgs.. a) ENDOWED FUNDS The fvnds of the Charity aro fvnds set up by donors as pe￿￿nent eapital. The income generated is ￿$tricted to fvntling bursaries, grants and prizes. b) RESTRICTED FUNDS Special Trust Funds These represent currentgifts. donalions arKI lega¢ies etc. from extemal dor￿r$ for specffic purposes where there is no requirement to preserve ca￿lat. EXpendth￿ directty financed by such gifts Is shown under restricted funds. At 31 August 2022. these were: Bursary Furmjs Bursary & Prize Fur¥J Sludenl Hardship Fund Solar Car & STEM Bus Strength & CondilioniTrJ Centre College campus projects Music P￿eets ' Outreach & overseas fundraislThJ 584.790 108.055 58.120 32.383 24.763 12.324 1.039 824,396 Bursary Funds: These wnwise Ihe funds re￿Ned from the liquidation of the Woodard Schools (Soulhem Division} Benefft Fund in 2019. along with other grfts received in support of our bursary programme either generalty orfor specific pupils. Ardingty Cdlege is holding these as a bursary fund lo provide means tested grants to support the education of children al Ardingly. Bursary & Prfze Fund: Rental income received from the end0v￿d [￿perty is hekl to fund prizes awarded to students. Student Hardshlp Fund: Thi5 is held to provide Supp￿ bursary funded students to tske part in overseas trips as part of their edu¢alion. Students can 8pply for assistance ￿th one trip IhroughoLrt their edUCath￿ at ￿dirjIy. Solar Car & STEM Bu$: A donation was received thts year to purchase and rrt-CYJt a STEM bus as part of the Ardingly-lfield STEM partnetship. The trtjs VAII be located at Ifiekl Communty College and will provide a lacility where extracaJrriuJlar sdar a(vibes can occur. Strength & Condltlonln9 Centre: This fund Is hekj to match the annual depre¢iat)n charge on the gym building and equipment. College campus projects: Donalions receNed during the year to fvnd spKifi¢ Items and projects around the College carnpus. includiny planliNJ and grounds work and the purchase of judo mats. Music projects: A d￿atiOn YAS re(*ived in the year for the music department k> estsblish wellbeing space Outreach & overseas fundralslng.. Donations t¢)wards Ukraine aThl a continuation of the Mwega lunchbox programme started last year. The fvnd is in deficit as it is awa￿r@ reimbursement of gift aid claims and will retum to Sufplus on receipt. 47

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 ¢1 UNRESTRICTED FUNDS Unrestricted fijnds represent acujmulated income from the school's actNitses and other sources that are available kn the g￿eral PKWP05es ofthe sc1w)￿. At 31 August 2022. Ihese were: Specific Development Campaigns Drake Fund Composition Fee Schem General Reserve 515.814 1A12.033 242.776 16￿63.819 19.034.442 Spe¢lfi¢ Development Campalgn$: Thi8 comprises fuTrJs from regular giving and lega¢y donations which have been designated for particular projects and initiatives. The major oynponents of this are: Greatest Need Science Projects Solar Car Capital Projects General Bursary £409.127 £ 26.302 £ 19.153 £ 16.680 £ 20.822 Greatest Need.. Funds a￿ held to be used towards ouses ￿1¢h are consNJered by the Board to be the g￿atest priority and wll generally contritxrte towards bursary programme or Capital works. Drake Fund: This fund 1$ fomwd from a genercws legacy d￿atiOn. Income generated from tho lund will be used lo fund Fwrsaries and the purchase of equipment for College use. Compo$llion Fe¢ S¢h¢me$: This ccffiprises day arKI tr*)ardir¥J fees paid in a¢JvarKe for up to three years and is applied to the individual fee a¢￿Unts as Ihey fall due.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST2022 22. ANALYSIS OF NET ASSETS BETWEEN FUNDS Total 2022 Tolal 2021 UNestrtcted Restricted Endowed Tangible r￿ed assets Securitras investments Advance fees contracts Net current Iliabilitie5ya5sets Long term liabilities Net pension liabil 30.261.654 1.105.874 136.311 15.659,379) 289.413 9.559 30,551.067 1.115.433 136.311 (4,862,000) 28.715.400 1.223.726 411.779 (1.102,0641 824,396 (27.017} (7.756,061) (7,756.061) 110.764,3421 1.272 000 18.088.399 824.3% 271.95S 19,184.750 17.212.499 Totsl 2021 Totsl 2020 Tangible fixed assets Securities investments Advance fees contracls Net current Ili3bilitiesyassets Long lemi liats'lities Net pen￿on liabil 28.425.987 1213.371 411.779 (1.881.611) 289.413 10.355 28,71S.400 1.223.726 411.779 (1,102,064) 29,551,579 963.578 331.762 13,288,278) 19.487.735) 1.325.000 (27.017) {10.764.342) 72.OCN) (10.764,342) 1272,000 16.133.184 272.751 17,212.499 16.745.906

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31ST AUGUST2022 23. SUMMARY OF MOVEMENTS ON MAJOR FUNDS At31 Au9USt 2022 M1Se 2021 Gains1 lTh)sses) Expenditure Endowgd- P•rrnanont Propety Shares R8valuat•Jn 283.572 10.355 121.176} 283.572 9,559 121.176) T¢>tal EndowThnt 272.751 271PSS Re$trf¢l•d Funds Bursary FUTr diThJly C￿ege P & Donatson Fund S￿n9th & Centre Student hafdshp Capitsl Proieds 15￿ AnnNer5ary events Solar Car & STEM Bus College tarn5￿ proieets C1￿'T tour Music projecis Outrth¢h 592.790 $84.790 116.996 12. 121.6LX)I 108.056 14,763 10.C 24,763 S7.946 174 58.120 10.¢Xrf) {10.0001 (7.6161 (7.5961 {12.2841 40.(KKI 19.920 17 32,383 12.324 12.268 5.000 11.040) 824396 {11.6741 178.770) 94603 Uh￿S￿leted Fund$ Specific Oev•fopnnt Campaigns Bursary funds Drake Fund S20.470 1S.737 {20.3921 515.815 1.519.530 411.779 1107.4971 1.412.033 242.776 Schemes General R￿r¥# Pension Reserve Trading Subshjiary 127,630 I￿,633) {24.647.4eiii 15.675.835 25.835.443 I1.272.0￿) 61.(K (722,530) 252.493 16.863.818 1.211,0 1476.Crf)61 1946,0431 16.133.084 26.291303 12S,440,491} 1.103.503 18.088.399 Total Funds 17212.399 26.388.906 {25.519,261} 1.102.707 19.184.750 Note 21 provhyes detsds of Ihe 1ndwidu￿ frjrwts.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 23. (Conlu)ued) SUMMARY OF MOVEMENTS ON MAJOR FUNDS At31 August 2021 At 1 Sept Gainsl {bJssesl Endowd- Perrnan•nt Property Shares ReValua1￿)fi ReseNe 283.572 6.270 {21,1761 283,572 10.355 121.176} 4.085 Total Endowrnnt 268.666 4.085 272.751 Restrkted Funds Bursary Fund rdlngly College P￿ze & Donal#)n Fund Strength & Conditioning Cntr• Sbjdent Hardsl￿p Capital Projects 150th Anniversary Events Community & 301.on 113.851 291.717 12.307 592.790 {9.162) 116.996 31207 10.fXX) 126.444) 14.763 57.831 100.1)JO 115 57.946 1123.gM) 10.0 10.fJ)O 3,fy)1 {1.2W) {10,(X￿)> (2,732) 1.801 Covhl PCR mattune Cknr Twr 10,(XI 15.( 12,268 613.962 (173.442} 806.564 Unrestricted Fund$ Speafic D8V8topment Carnpaigns Bursary Fund Drake Fund CJRS granl Cornposition Fee Schernes General ReseThe Pension Reserve Trading Subsidiary 493,810 27.146 1486) 520,470 1.263.467 256.1163 1.519,530 372.016 293.109 (372,016) 1213.092) {22.$42,444) 331.762 411,779 1S.S27.995 11.325.0(K)I 1428.7591 22.690.284 41.1XXI 38.951 15,675,835 11.272.C)01 1722.5301 12.IK#) 1332.722) 15M63275 23W.$06 123.460.760} 268.063 16,133,084 Total Funds 16.745,903 23.828.550 Qi634202) 272.148 17212,399 24. CAPITAL COMMITMENTS At 31 August 2022. the wp had no caprtal corNniiments. 51

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST2022 25. PENSION SCHEMES T•achlng Sl•ff Teaching staff a￿ erolled in the A￿8 Pensions Tntst for Inde￿￿ent Schools. a defin8d contribullon scheme. Operatlons Staff Operations staff ao enrdled in the ￿￿Ingty College Group Pe￿￿￿1 Penshjn. a d8ffngd ￿ntribut￿n scheme 0￿rated by AEGON. Ardingly College Retiromont Benefit Scheme (A final salary penslon scheme for Operatlons staff employed befor• 2001) Ardingly College (the Employer) operates a final salary pension scheme. the Ardinsly College Retirement Benefits Scheme (the Scheme). The Scheme ts a Registered Pension Scheme under Chapter 2 of Pt IV ofthe Finarth Act 2C(A. The Scheme is dosed to new members. Compo$ltl¢)n of Ihe Scheme Afull FRS102 ValUat￿n was carried (Art for the Ardingly College Retirement Benefft Scheme as at 31 August 2022 by a qUalffj￿d iNJependent aciuary. The assets of the ￿heme are held separately from those ofthe Em￿0yer. The major a￿umpI￿ usod by the actuary to value the assets arKI h'abilities at the balance sheet date are.. 2022 2021 Inflation assumption (RPI) Rate of increase Ni salaries The assumed raie of increase to p8ns)ns in deferrr￿t The assumed rale of interest to pensDns in payment Assumed rale used to disctyJnt s¢heme ￿blIrtIeS Average lrfe expectancy 3.8% 4.8% 3.8% 3.6% 4.2Y• 3.6% 4.6% 3.6% 3.5% 1.6Yo 90.0 Thelrfg expectsncy shvn ts the avera9e of the figures for men and women aged 45 and 65 at the effecbve date AssuMpt￿nS The assumptK>ns have been determined as follows: Ihg discount rate is based on a yiek1 cuN8 cLYthcted from the ieoKx sterfng M C￿ale Bond Index al the effective date. at th8 duration of the liabilities: Ihe rale of increase In the Retsil Price Index IRPI) ts derived from the difference in the yields on fixèd and index4inked UK govemmenl t)nds {giMs) atthe effeclivedale published bythe Bank of England. future pay increases assuffJ lo bg in lire ¥thih ts vuease Rthl Price Index plus 1% per annum. demograph￿ assumptkins are considered approwiate for stheme by the actuary.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 Assots arbd Llabllities at each year end in accordance with FRS102 wert: 2022 2021 Totsl market value of assets Reslriction on asset balanc8 Present value of liabil￿e5 DefKil 3.194.000 (283,0001 2.911 000 3.327.000 4 599,000 1,272.000 Anatysls of amount recognised in Statement of Financial Activities 2022 2021 cyr￿n1 seM¢e cost Net interest on defined benefft liabilty Expanses paid from the Scheme Total Cost 18.000 20.000 33.000 22.000 8.000 63.000 46.000 Anatysls of amount recognlsed In other comprehenslve Income 2022 2021 Actual return on assets Retum on assets induded in net interest Asset gainlllos51 Llabilty experierte g8inl(ths) Change of assumptions gainl{k)ss) Restricb"on on asset balance Remeasurement gall￿1{10S$j In other ¢omprehenslve Income {130,000) 53,000 (183,000) 117.000 1,568.000 86.0 31.OCN) 124.lY)) (135.000) 1.219.000 20,ofA) Change$ in prnsonl valuo of tho doffin￿ b•nefit liablliuos ar•: 2022 2021 Opening value of liabiliti8S Intgrest ￿$t Servtce cost (including member contribui¥Th) Experien￿ {gain) I loss Change of assumptions {gainl I loss Benefits patd Closing value of liabilities 4.599,000 73,000 23,000 (117.0001 (1.568.000} 99.000 2.911,000 4.604,1XX) 77,000 38.000 (124.0001 135,000 131,000 4 599 000 Changes In th• lalr valu• ol tho as$ets ar• as foll¢)ws: 2022 2021 Opening value of assets Expecled retum Asset gain Restriclion on assel balarKe Contributions by employer Conthbutions by M￿be1$ Benefits paid Expenses paid from the scheme Cio&ng value of assets 3.327,000 53.000 {183.000} 1283.000) 99,000 5.1)00 (99.0001 3.279.000 55.0 31.0 96.000 5.000 (131.0001 2.911.000 3,327.000 Due lo tho Scheme hamng a year4nd netasset balance of£283,(JXI. thts has been restrKled and rerrK)ved above through other comprehensive incone. with the corres[￿d1[¥j enty in the balance sheet.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31STAUGUST 2022 The total valuè of th* assets Is divid•d between the main asset cla$s¢$ as follows: At 31 Aug 22 At 31 Aug 21 Equities Gilts Bonds Property Cash Annuities Total 34.6% 16.1% 26.8% 10.1% 0.2% 12.2% 100% 35.7% 12.6% 28.2% 6.6% 0.6% 16.3% 1C(I% The assets a￿)ve do not indude any securilies of, or prrwty (￿CUpied by Ardingfy College. Amounts for the tsjrrent and wemus fcmjr {in thwsandsl.. 2022 2021 2020 £'ooo 2019 £'ooo 2018 £'ooo Presenl value of 2.911 Total market value of assets Reslriclion applied to asset balan￿ In accounts Defiul i Asset Experience gain Illoss) on assets Expertenco gainl(loss) on liabilities 3.327 3.146 2.891 {283) 1.325 183 31 76 187 75 117 124 220 95 97 The actual retsjm on assets ¢)ver the pefiod was a loss of approximatety £130,OCK) (2021: £86.OCQ). The lotsl actU8rial gainnoss for the period (being the sum of the liabilty exFerience gainnoss, the change of assumpti￿$ gainnoss arKI the asset ga1rv1o￿) was a gain of approximalely £1.502.000. A ￿$triCtion of £283.000 has been applied lo thts gain $0 thal the overall unpact is to eIirr￿nat8 the previous liability without recognigng the asseL {2021: gain of approximately £20.000). The Employer expects lo contribute a minimum of £92.520 to Ihe Sch￿ in the year from the end of the pernd kn¥ards the deficit.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 26. RECONCILIATION OF NEf INCOMING RESOURCES TO NEfcASH INFLOW FROM OPERATIONS 2022 2021 Net Income lor the parknd (as per the Statemert rf Financial Aclivitiesl 761,351 454.496 Adjustments for Oeprecialion charges (Gainsylosses on investments Dividends. interest and rents from investrnents Financing costs Lossllprofitl on the sale of fixed aKets Defined benefrt pension scheme {IrKreaseydecrease in $￿kS (InGreaseydecrease in debtors Increasel{decrease} in creditors 2,163.130 108.293 {13.149} $49,208 2,134,694 1260,1481 112,7801 536.020 {10.4001 12.0 129,9951 509,687 (SO,341) 1,211,000 12,089 {375,6091 166.658 N¢t cash provided by {Us￿ Inl ¢>perating activitsog 4.582.971 3,283.233 27. ANALYSIS OF CASH AND CASH EQUIVALEl￿s 2022 2021 Cash Én hand and at bank Other loans Overdraft facilities rePaYa￿e C￿ demand 5.171.135 4.222,618 Total cash and ush ¢qulvalents 5.171,135 4,222,618 28. ANALYSIS OF CHANGES IN NET DEBT At1S•N 2021 other nDn-cash than9e$ At 31 Aug 2022 Cash Ind tsh equival•nts Cash 4,221618 948.517 5.171.135 4.222.618 948.517 5.171.135 Borrowln9S Debt due ￿thIn Debt due afterone 1206.689) 18.388.344) {4.012.3951 3.111.993 (4219.0841 15276,3511 (8.595.033) (900A02) 19.495.435) Total 14.372.415) 48.115 (4.324,300}

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST2022 29. SUBSIDIARIES The Company owns all the share ca￿1 of PKyects Limited. o rA)mpany incorporated In England 8rKJ Wales (Company number. 01931797). This company carries out trading activity on behalf of the Cdlege induding commer(4al kttiThJ and sales from the schcM)I's cafe. Ardingly Piojects Limited had 8 turnover of £1,007.774 {2021". £778.145). gross Profft of £662.507 12021.. £527.0381. and a loss before tax and gift ald of £151.518 in the year ended 31 Augusl 2021 12021.. knss of £225.084). Al 31 August 2022 Ihe company had negative share1￿lde￿$ fvnds of £764.08712021- negative £612.570). Ardingly Projects Limited paid rent of £125.68512021: £129.7501 and £310.593 employment cost rechar¢Jes {2021.. £575.040) to Ardingly College Limited during the year. Ardingly Projects Limited made 8 loss and therefore there no gift aKI pay￿￿nt to Ardingty College Limited. At year end. Ardingty Projects Limited owed knlirrfJly College Limited £1.003.687 {2021". £765.787). Th8 Company also owns all the share ￿pital of Ardingly Cdlege Intemaltonal Limited. a company Incorporated in England ar￿ Wales (Company Number 11540470). This company was Incorporated on 28 August 2018 and carries out all activiknes relating to the setting up of educatsonal partnerships internat￿)￿al scho(4s. Ardingty College International Limited had a ￿m0Ver of £87,5W12021.. £70.0￿1. Ios5 of £47,36212021: gross loss of£37,280). and a loss before L￿of£71,995 in the yearended 31 August 2022 (2021:1oss of £68,687). Al 31 Augu512022 the company negative shareholderfs funds of £181.95512021'. negative £109.9601 Ardirvjly College Intemational Lwnited paid rent of£922 {2021. £nil) and eMplo￿￿nI cost recharges of £94.665 {2021.' £89.255) to ￿ingty College Limiled during the year. Al year end, Ardingly College Intemalional Limited owed ￿ingty College knmited £248.71012021: £137,454}. Both subsrdiaries have the some registered offKe of A￿1￿lY Col*e. co1￿￿ Road, knllngly, Haywards Heath. West Sussex. RH17 6SQ.

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2022 30. Consolidated Statement of Flnanclal Adlvlll8s- Comparative figures by fund type Yaar Ended 31 August Unrestri¢Xed ReStr￿ted ErKlowed 2021 Total Income and endowments from Charitable activities School fees receNable Ancillary trading income Other trading activitiès NtY￿A¢111ary trading income Other Activ￿"e$ Investments Bank and other mlerest Voluntary sources Grants donatiMs Other Inca)me Other In¢omlng resourcès Total Incoming Re$¢)ur¢e$ 23.462.506 366,044 Expenditure ¢)n: Rai$Sng fund$ Non an¢illary trading Other income generalirg activit'es-. Financir#J costs Investment management Fundraisin9 and development Total Deductible Costs Ch•rit•ble •¢tlvltle$ Education and grant making Total resources expended Net gainslllosses) on investment assets Net incomel{expendI￿re) Transfers befv￿en funds Other Tecognised gains1{1055es) Pension scheme actu*ial gainslllosses) Net movement in funds for the year Fund balances at 111 September Fund BJlan¢es at 311t August 21.058.954 1.023.187 21.058,954 1.023.187 965.488 4.957 96S,488 4.957 359 12.421 12.780 399.161 10.400 353.623 752.784 10.400 23,828,550 985.694 985.694 536.020 536.020 71.119 71.119 1.592.833 1.592.833 21.867.927 23,460,760 2S6,063 22 041369 23.634.202 260.148 173.442 4,085 25T,809 192,602 4.085 454.496 12,CilO 12,000 192.602 613. 466.496 268.666 16.745.903 15,863.275 16.133.084 272.751 17212,399

ARDINGLY COLLEGE LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST2022 31. ULTIMATE CONTrOLLING PARTY The W(￿)dard Corporalth Limited ts the ultimate controlling party. a register8d charity numbèr 01096270. which is incor[￿rated in England and Wales. Copres of the financial stslemenls of th8 Woodard Corporation can be obtsined from High Street. Ab￿)ts 8romley. Rugèley, Staffordshire, WS15 3BW. The acu)unts of Ardingty Cofiege Limited are induded within th9 consolidated financial ststement5 of the WcM)dard Cwalion Limited. 32. RELATED PARTIES As staled in note 31. Ardingly College Limited is a whrAly owned subsKliary of The Woodard Corporation. An al￿￿nI of £128.962 was paid during the year to Woodard Corporation by way ol a levy to meet ruming costs. The company also controls subsidiary tradirvj companies. Ardingty Projects Limited. and Ardingty Cdlege Intemational Limited: the resuhs of which are detailed n Note 29. During the year Ihe ojmpany was charged professM)nal fees (rf £33.622 by Savills IUKI Ltd of which Guy Dixon is a Director and Professronal fees of £31.440 by Knights Professional Services Ltd whilst &an Champkin was a Partner aThl employee until 29th A￿.1 2022. The fees were charged on an affli's lenglh bas￿ and no amounts were outsianding at year end. All conflicts have been recorded on DeClarat￿n 01 Inieresl forms and also al the start of relevant Govemor meetings to be included in the minutes. 33. ACCOUNTING ESTIMATES AND JUOGEMENTS In preparing the financial statements. the directors are required to make estimates and judgements. The matters (ietsiled below are cons•Jered to be the most important in understandin9 the judgements that are involved in preparing the ffinanck81 ststements and the urTrcertainlie5 that could impact the amounts reported in the results of operatK)ns, finarKial position and ca5hflows. Accounting poltcies are shown at note 1 to the finan(aal stslements. Actuarial assUMptKw￿ in r8specl oldefinedben8fftpension schem&s The application of actuarial assumplions relating to defined benefft pension schemes Is incorporated in the ffinarrial statements in aC¢XJr(fan￿ wth FRS 102. In apptying FRS 102. advice Is tsken from independent qualffied acluaries. In this context. signrfcanl judgement is exercised in a number of areas. including future thanges n salaries ￿ inllation. mOrtal￿Y rates and the selection of appropriate discount rates. Pmvision for bad debts Debts are provwjed f¢Y rf not recovered wilhin tam). Estimatf3 •mwnts to provide against recovery ofdebts is a matter ofjudgernenL Depreuation. impairn￿nt andrnsklual values offixgd assets Judgement is exerct5ed in estimating the Tesidual values of fixed assets. the selection of appropriate rates for depreciation. and for matters of impairment