2021-08-31-accounts

Cheadle Hulme School Report and Financial Statements Year ended 31 August 2021 Cheadle Hulme School Registered Charity No. 1077017 Company No. 03823129

CHEADLE HULME SCHOOL Report and Financlal Statements- Year Ended 31 August 2021 CONTENTS Page Legal and Administrative Infomiation Report of Ihe Directors 5-29 Independent Auditor's Report 30-33 Statement of Financial Activities 34 Balance Shèet 35 Statement of Cash Flows 36-37 Notes to the Financial Ststements 38-58

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 DIRECTORS, OFFICERS AND ADVISORS The Cheadle Hulme School (CHS) Govemors are the Charity trustees and Company Directors of the Charily and Company, 'Cheadle Hulme School.. They have served in Offi￿ throughout the year, except where indicated. All Oireclors give their time freely and no remuneration was paid in the year. No Director or person connected with a Director received any benefit from means-tested bursaries. During the year. the activtties of the Goveming Body were carried out through 6 Sub Committees. The membership of these Sub Committees is shown below for each Director. Name Apporntmenuresignatio (3} (4) (5) {61 in year Mrs C Boyd Appointed as Chair 1011212020 Mr P Johnson Resigned 1011212020 Mr M Birchall Resigned 1011212020 Mrs J E Birkett Mr M Bolingbroke # Mr P Driver Resigned 1011212020 Mr D N Riley Mr C Roberts Mrs J Squire Mrs C Thomson # Appointed 1211012020 Mr M G Tyley Mr S Abraham # Mr G Wright Appointed 81212021 Mr R Oman '# Appointed 1311012021 Ms B Walmsley. Appointed 151212022 (1 } Education & Pupil Progress (21 Operations & Infrastructure {3} Finance & Resources {4} Safeguarding, complian￿ & Pupil Welfare {5} Nominations (6) Strategy

Directors who were the parents of a pupil at the School during the year

"Directors joining the Board post the reporting dates but prior to account sign-off

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 OFFICERS Mr N Smith Head Mrs S Kershaw To 30 June 2021 Mr W James From 1 July 2021 Chief Operating orri￿r. Company Secretary and Clerk to the Govemors. Solicitors-. The School has used a number of specialist legal advisors during the year. Auditor: Crowe U.K. LLP Chartered Accountants and member of Crowe Global 3rd floor, The Lexicc Mount Street Manchester M2 5NT Bankers Santander UK plc 4 St Pauls Square Liverpool L3 9SJ Barclays Bank PLC P.0. Box 357 51 Mosley Street Manchesler M60 2AU Website= www.cheadlehulrnesch¢X)l.co.uk

CHEADLE HULME SCHOOL Report and Flnancial Statements - Year Ended 31 August 2021 ANNUAL REPORT OF THE DIRECTORS The Directors of Cheadle Hulme School present theirAnnual Reportfor the year ended 31 August 2021 under the Charities Act 2011, including the Direclors. and Strategic Reports under the Companies Act 2006. together with the audited Financial Statements for the year. REFERENCE AND ADMINISTRATIVE INFORMATION Cheadle Hulme School is a company limited by guarantee with no share capital and is a registered charty under the auspices of the Charity Commission. School Address: Claremont Road Cheadle Hulme Cheadle Cheshire SK8 6EF Company No: 3823129 Charity No: 1077017 Taxation As an educational tharity. the School is eligible for a corporation tax exemplion on its educational activities and investment income. provided these are applied to the School's charitable aims. The School is also entitled to an 80% reduction in business rates on the property occupied for charitable purposes. The School is, however. unable to reclaim VAT input tax on costs, as it is exempt for VAT purposes

CHEAOLE HULME SCHOOL Report and Financial Statements - Year Ended 31 August 2021 OBJECTIVES, AIMS AND ACTIVITIES Cheadle Hulme School was founded in 1855 and has been situated on its present sile, now occupying about 75 acres of ground. since 1869. The purpose of the School, at its foundation, was to educate. maintain and clothe Orphans and Necessitous Children ofwarehousemen and Clerks in the Manchester area (where Wa(￿nianS. also known as the WACS. comes from). The founders declared that the School should be established and conducted on the most liberal principles and be open for the receptK)n of children of both sexes. The broad wishes of the founders are maintained to this day and. as a consequence. the School has a distinct, inclusive and friendly almosphere.. Academic. Active and Altruistic. Today, Cheadle Hulme School is a co-educational day School for 3-18 year-olds, thal believes in the inlellectual, personal and social value of girls and boys leaming alongside one another in preparation for the realities of the adultworld. The School aims to provide a balan￿d approach to academic and co-curricular excellence. blended with a pro-active pastoral tradition. which leads ils pupils to engage in positive roles in their communities and across the wider world. The School builds upon its motto of 'in loco parentis. by providing the highest levels and quality of pastoral care. Teachers and other staff are fX)mmitted to supporting the wellbeing of every pupil. Leadership, teamwork. personal responsibility and resilience are important elements of the pastoral edurAtion the pupils receiv8. The School continues to value its heritage by endeavouring to support pupils whose family incomes would otherwise prevent them from a¢￿SSing and benefitting from the education on offer. The School's Financial Assistanc£ Scheme helps it to fulfil its aspiration of achieving a diverse social and ethnic mix of pupils. The School's vision is that each student= eXperIen￿S a challenging, dynamic and re￿vant education which enables them to reach their full academic potenlial and flourish in a rapidly changing world., develops a love of learning that extends beyond Ihe confines of examination courses. and is able to work effectively in a variety of settings.. develops a strong set of personal values and ￿am$ to value themselves and others, appreciating difference and ￿diVidUallty and supporting those in need or less fortunate than themselves- discovers and develops a broad and relevant set of skills and aptitudes whith enable them to undertake useful and effective roles in their communities. The School aims to achieve these through.. • an approach to education which fosters and encourages the core Waconian Values of Integrity. Endeavour, Resilience, Compassion and Contribution, a co*ducalional environment which enables boys and gids to leam. work and develop together, enabling each to inspire the other. a strong pastoral care system centred upon the principles of well-being. a commitment to social inclusivity and outreach, building upon the School's founding philanthropic values. a range of learning environments which develop f18xible and independent learning and the ability to respond to and thrive in a technoh)giczlly sophisticated WOTId, a varied, inclusive and stimulating range of co-CUrriCUtar opportunities, which complement and extend the cU￿1cUlum.

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng documents The School is govemed by its Articles of Association which were last amended on 15 April 2015. These will be reviewed in the coming year. Governing Body The Board of Directors is a self-appointing body ￿MprisIng up to fourteen Directors. The term of office of each Director is renewable by approval ofthe Board after a specrfied period, usually of either two or three years. Recruitment and Training of Directors A Nominations Committee monitors the composition of the Board and makes recommendations to ensure the Board comprises members with a wide range of skills and experience. The Board seeks to ensure that at least ￿ of the Directors are current parents of pupils attending the School. New Directors (known as Govemors) are recruited based on their professional skills, experience and personal cornpeten￿. In a(Idition, they must have a passion for the work of the School and an underslanding of education in terms of its positive impact on personal growth. Current Board members have experience in the following areas.. Education HR Financellnvestment Technology Senior ManageriallBusinesslEntrepreneurship Property Development Medical Legal As a co-educational School. the Board includes an appropriate balance of male and female Directors. New Directors have an induction that is specially organised for them and includes meetings with the Chair. Head, Chief Operating Officer and other key personnel. to develop understanding of how the School operates, its key policies and procedures and their roles and responsibilities. Directors are encouraged to participate in extemal training and are provided with regular updates on matters relevant to their role. Directors are required to update and sign to confirm their understanding of safeguarding matters and Ihe following key policies. annually: Acceptable IT Use Agreement Fomi Code of Conduct and Expectations for Govemors Declaration of Interests Form Declaration of Offences Fomi Fit and Proper Person DeClarat￿n Fonn In-house training is arranged as required and Directors are encouraged to observe aspects of School lrfe on a periodic basis during nomial School days. This includes monitoring how policies and procedures are implemented.

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 Ensuring Good Governance The Board of Directors are committed to the principles of good and ethical governance. The Board uses its subacommittee structure, {table on page 3 and outlined below), to objectively scrutinise differenl elements of the School's progress and performance. The Board carries out periodic skills and effectiveness reviews and ensures that governors undertake appropriate training. The School has clear procedures for risk management. anli-fraud. briberylcorruption, procurement, gifting. behaviours, declarations of interest and whistleblowing. its policies are subject to named and daled review, with these key ones overseen by Board members. Board members are also aware of their responsibilities to ensure cofnpl1an￿ with statutory and other guidance relevant to its status including as a provider of education. a charity. a company, and as an employer., Board members musl sign an annual declaration for all pertinent policies and responsibilities as do the Senior Leadership Team (SLT) overseen by the Clerk to the GovemorslCOO. Organisational management The Directors are members of the Goveming Board and, as the Charity Trustees, are legally responsible for the overall performance and control of the School (Junior and Senior). The Board meets at least five times per year and holds Away Days with the Senior Leadership Team as appropriate. The Head, Senior Deputy Head. Head of Junior School and the Chief Operating Officer attend all Board meelings and other members of staff attend by invitation. A new Chief Operating Officer (also Clerk to the Board of Govemorsl was recruited via remote engagement by the Board, and site visits. during this reporting period. The persistence of Covid 19 restrictions meant a continuation of regular on-line Board meetings to keep the Board abreast ofthe impact of the pandemic on the School and to discuss and approve the necessary action plans presented by SLT members. One-towone meetings have been enabled on specffic subject areas. including face-to-face as restrictions eased during this reporting period. The Board aC￿sseS a common (Google) cbjud-based IT platform used by the school to enable secure data sharing and communi¢2tion. All Board Sub-committees are chaired by a Govemor and typically meet termly, with out of committee circulation to maintain pace on more pressing matters. The membership of each Sub-commillee includes between 2 and 4 Govemors, key senior members of staff and other staff representatives as appropriate. The Goveming Board reviews its Sub-committees periodically to ensure they are configured to conduct key business and support the School in its strategic aims. The current Sub- Committee structure was adopted from 1 September 2017 and is being reviewed for Ghanges to commence in January 2022. The Head is responsible for overseeing all aspects of the day-to-day running of the Sthool. The Chief Operating orricer and their team manage Financial, Estates, Operations, Information Technology, Human Resources and Governan￿ matters. The Head is sUPPOrted by the SLT. which comprises the Senior Deputy Head, Deputy Head (Academic), Deputy Head (Pupil Welfare). the Head of the Junior School, the Chief Operating Officer and the Director of Development. Admissions & Extemal Relations. A Deputy Head ICo•Curriculum and Community) was added at the end ofthis reporting period for the following year, following their retum from a one-year sabbatical. The SLT has authority and responsibility for planning, directing and controlling the operational and educational activities of the charity. The protocol for setting remuneration for the Senior Leadership Team is..

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 The Chair of the Board together with hyo other members of the Board, including the Deputy Chair. agree the Head's remuneration. The Chair of the Board and the Head agree the remuneration for the Chief Operating orricer. The Head. working wilh the Chair of the Board and Chief Operating Officer, sets the remuneration for the remaining members of SLT. Group structure and relatlonships Cheadle Hulme School incorporates a Junior and Senior School. It has one wholly owned subsidiary. Cheadle Hulme School Enterprises Ltd. which was established on 14 May 2013 to manage the School's lettings activities which had previously been accounted for through the School's financial systems. Consolidated Financial Statements have not been prepared on the grounds that the subsidiary is not malerial. The School has an ongoing relationship with the Cheadle Hulme School 150th Anniversary Bursary Trust Fund. The School's Extemal Relations team raises funds for bursaries that are invested and managed by the 150th Anniversary Bursary Trust using a professional advisor. Total funds within the Trust amount to approximately £4.8m. The Chairman of the Trust is independent.. but Iwo of the Trustees are also Directors of the School. The objectives of this Trust are to enhan￿ educalion at the School through the provision of several bursaries for pupils from a broad range of backgrounds who could not othemise afford the fees. The School also has an ongoing relat￿nshiP wlh the Cheadle Hulme School Development Trust Ilhe Trustees of which include two Directors). This manages any funds raised by the School's Exlemal Relations Team for large long-term capital projects. The objectives of this Trust are to apply Trust income for the provision, improvement, construction, maintenance and development of the School propety. buildings and infrastwcture. Fundralslng The Amazing Campaign was a new initiative introduced in January 2020 to raise funds for the School's Bursary Fund. After being postponed due to Covid 19, a first Giving Day was held for Old Waconians in October 2020. alongside a telephone campaign which resulted in over £30,000 of gifts over 5 years and an increase in new regular donors. Following this, a 10-day appeal lo our parents was held in June 2021 and the same students took part in another telephone campaign to help spread awareness and raise funds. The appeal resulted in gifts tolalling over £40.000. CHS employs professional fundraisers to cary out activities for fundraising purposes. All fundraisers are bound by the regulations sel out by the Fundraising Regulator, of which the School is a member. This means all fundraising activity is carried out in line with the advice and regulations provided by this scheme lo ensure fundraising is carried out to a professional standard and adheres to best practice. Information about how the School uses personal data for fundraising purposes is explained within the Extemal Relations Privacy Policy. Old Waconlans and the Cheadle Hulme School Parents, Association Events for former pupils continued to take pla￿ virtually during the academic year, including the Annual General Meeling. Regular communications, sent to Okj Waconians, including updates from the Head about how the school was adapting to new covid rules, were well re￿ived. Old Waconians provided online careers talks for current Sixth Form students.

CHEADLE HULME SCHOOL Report and Flnanclal Statements - Year Ended 31 August 2021 Parents. Association The focus for the PA has been transitioning from being focused solely on the Junior School to becoming a group for the whole school- with a strong representation from the Junior School. diversifying across the school remains a focus for next year. The PA meets regularly with members of the SLT and, last year, worked closely with members of the Sixth Form Council to collect food and gifts to support families from neighbouring partner primary schools. PRINCIPAL RISKS AND UNCERTAINTIES Rlsk Management The Board. assisted by the SLT. has examined and documented the major risks that the School faces. The School's Risk Register is compiled in accordance with the Charity Commission's "Charities & Risk Management- framework and is consistent with the Commission's Statement of Recommended practi￿ ISORP) 2015. The School actively manages its key risks and has developed systems to monitor and control them lo: Minimise likelihood of hami lo individuals or their families. reduce operational impact. and, redu￿ financial or reputational impact to the School. A review commenced at the end of this period, looking lo.. Better articulate accumulated risk, ensure risk transfer and ownership is better understood across the School, and, ensure that measures to redu￿ a materialized risk from worsening are robust. The key accumulated risks are= Safeguarding, sport injury, travel, lone working, trips, estate management, fire, cyber and financial shock. Changes (or predicted changes) to Nl Tax. the living wage, business rate relief, charitable slalus. commoditylutility costs, workfo￿, pensions and the environment are all within sight of the Board. Directors review Ihe key risks and mitKJating action on a regular basis and this year. through the pandemic crisis, the School reviewed Covid 19 related risks on a daily basis, applying additional Covid 19 risk considerations to most other potential activities. Sile closures and the move to remote learning was deatt with following the School's critical incident procedures. The key risk areas were: Ensuring remote leaming and co-curricular provision was effeclive, accessible and that pupils continued to engage,. that the School provided additional academiclpastoravwellbeing support to pupils and staff as required during the period of remote leaming,. that parents impacted financially by Covid 19 were supported appropriately.. and, that the retum to site plan kept abreast of rapidly evolving govemment guidelines and prepared adequately for pupil and staff safety. Other areas of focus during the year included ensuring the School's digital nehvork and systems were secure (cyber risk}. that General Data Protection Regulation was adhered to, that the School kept abreast of and responded to Govemment thinking on education policy, charitable status. pensions and business rates, while ensuring that the School's finances were adequate to ensure long-lemi viability, reccKJnizing the constraints on parental affordability. The stralegies for managing and mitigating these key risks induded.. Regular review of risks, opportunities and implementation of required action throughout periods of remote leaming. Maintaining communication to pupils, parents and staff. Continuing to refine and develop risk assessment and critical incident processes in line with changing context and govemrrEnt guidan￿. 10

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 Continuous horizon scanning to ensure Directors and SLT are aware of latest ￿￿traI and local govemment thinking and policy. and taking action accordingly. Being aware of local changes in the education sector. (￿nSidering the impact on the School and taking appropriate action. Monitoring and reviewing the School's admissions process. Continuing to prepare and review the annual budg8t. financial projections and scenario plans. A new Board-led Risk Committee will become effective in the next period, to focus on risks across the School and ensure coherencelstandardisation of procedures. The School's Strategic and Operational Plans The School implemented a new 5 Year Plan in September 2019, and continued to make progress towards achieving the main goals of the plan= Embed and communicate the distinctive. holistic CHS educalion. Ensure that The Waconian Values are embedded in the practice of the Sthool. Develop an inspiring and challenging curriculum which prepares CHS pupils for the future. Ensure outstanding teaching and leaming. infomied by an evidence-based approach. Ensure the suitability of the estate to meet the future needs of the sch￿1. Ensure the financial sustainability of CHS. Expand the bursary fund to support expansion of bursary places. Develop sustainable community partnerships. From March 2020, when the School moved to remote leaming during the Covid 19 pandemic, work on a number of target areas was paused as the School focussed on the short-lerm challenges of successfully navigating the crisis. Throughout the pandemic. the SLT met regularly to discuss 'lessons leamed, and any potential opportunities arising from Covid 19. A Slralegy Group, consisting of Board and SLT members. met during the year lo evaluate the information being learned to review and refine the Strategic Plan. This review of lessons leamed has continued into the new academic year. An additional BoardlSLT group met several times during the year to consider the School's approach to Diversity and Inclusion. producing a draft report at the end of the academic year, a route towards a bespoke anti-racism policy to sit alongside broader indusion. The key areas of focus for the 2021-2022 year will be= Academlc. Raising CHS standards to maximise pupil progress. Given the impact of the Covid 19 pandemic, academic departments will be tasked with ensuring they are raising standards in the areas they feel were impacted by the last 18 months. In addition, the new Lower School Curriculum will be assessed. wilh the support of a new Lower School Curriculum Co-ordinator. At the same time. work will begin on reforming the Upper School Curriculum ready for September 2023. A team of Heads of Departmenl and Heads of Year will also review the current Reporting and Assessment systems, with reform to be introduced in September 2022. Further work on ensuring teaching and leaming is outstanding, and infomied by an evidenced based approach, will include.. Further developing Professional Leaming Communities for leaching staff. further developing a teathers. website. where information on expectations and best practi￿ can be shared,. application of the four pillars of effective assessment., and. ensuring that remote leaming remains of a high quality- A key priority for the Junior School is to review the content and resources used for the English and Humanities curriculums, and to review provision made for pupils with specrfic leaming needs.

CHEADLE HULME SCHOOL Report and Flnancial Statements- Year Ended 31 August 2021 Pastoral. Ensuring that all pupils re￿1ve the highest, and consistent, levels of care. collaborating, as appropriate, with extemal agencies and partner Schools. The School will continue to offer additional support for those pupils who have found the pandemic particularfy difficult. The focus this year will be on widening participation of pupils across all ages in the School's c(Fcurricular programme. Work on embedding the Waconian Values across the School will also continue. Admissions and Partnership will work to maintain the quality and numbers of pupi15 at the School through.. Expanding the Bursaryfund lo supportthe expansion of Bursary places., continuing to develop the School Centred Initial Teacher Training ISCITTI to include Modem Foreign Languages as well as Maths- and, extending the network of sustainable partnerships with k)cal primary and secondary schools, Higher Education and community groups. The School will also continue to develop connections with and between Old Waconians. Finance and Infrastructure. Maintaining financial sustainability and resilience after accounting for key external challenges. The Sthool will continue to develop dynamic. creative SPa￿S which are fit for purpose and maintained to high standards as well as managing School business through innovative technical solutions while embracing new ways of delivering education. Staff Development and Wellbeing. To continue lo attract and retain the best staff, CHS will provide an aspirational, supportive and forward-looking environment in which to work. After a pik)t programme in 2020-21. the School will launch an in-house Preparing for Senior Leadership programme as well as working on ways to broaden the diversity of CHS staff. Future Plans The School's long term Strategic Plan is updated at the start of eath academic year. Each year the SLT sets targets at whole School. departmental and individual levels and reviews prog￿SS over the course of the year through the School's online performance management system. Oversight by the Board is achieved through the Head's regular updates, through the work of the Committees and an annual report. At the end of this period work began on developing a revised Board-led strategy for the pericNJ to 2030. The Board is also working with the SLT on improved visualisation, data analysis and milestone monitoring by the Board and its sub-LX)mmittees. to hokl the Head, COO and SLT to account for performan￿. Employment policies The School is an equal opportunity employer. It has clearand transparent recruitment procedures that adhere to employment law, best practice and DfE guidelines. The School Gonsiders all job applicants equally and against predetermined criteria required for the post. The School undertakes to make all reasonable adjustments to ensure that any applicant who fulfils the criteria, can be offered an inteTview. The School also meets its obligations in relation to safeguarding. meeting safer recruitment standards and undertaking any checks necessary to ensure the suitability of any staff or volunleers working with pupils. Of note, the School passed a short-notice Independent Schools Inspectorate {ISI) malerial change visit at the end of this period. This reviewed school procedures and practices and was conducted on behalf of OFSTED and the DfE as a result of a request to grow school pupil numbers from a notK)nal maximum of 1510 to 1570. At the start of the Autumn Term 2021, 1546 pupils were enrolled. 12

CHEADLE HULME SCHOOL Report and Flnanclal Statements- Year Ended 31 August 2021 All leaching staff are appraised annually. and the School provides a range of inlemal and extemal training and development opportunities. The Professional Sery1￿ Staff have a regular Personal Development Plan discussion wilh their line managers. Wellbeing Staff wellbeing is very important to the Sd)ool. It provides staff CA)aching and mentoring for professional and personal development and operates an Employee Support Scheme., an extemal organisation is on hand 2417 to provide a broad range of advice and support (personal and work relaled} on a confidential basis to all School staff. The School held a variety of staff wellbeing events and activities throughout the year. Benefits The School's employment conlract also includes various 'benefits': Pension contribution-, aC￿sS to the School's fitness and pool facilities for staff and their families- on-site parking,. lunches. access lo a Private Health Care Plan,. part4ee remission for staff with children in the senior School and, School contribution to pensions that meet or exceed industry standards. These benefits are regularly reviewed for impact, uptake and perceived value to the staff as part of the CHS employment offer. Employees with disabilities The School undertakes to make all reasonable adjuslmenls to ensure that any candidate applying for a role at the School and who is deemed appoinlable. would be able to carry out their duties effectively. Any members of staff with a disability will not be disadvantsged in their opportunities for training and development. Where appropriate, specialist training or resources are made available to allow them to develop their skills and career opportunities. All reasonable steps will be taken to accommodate the needs of any employee who becomes disabled during their employment. This can include making adjustments to their existing employment, or through appropriate retraining and redeployment. enabling them to remain in employment wilh the School whenever possible. All employees are expected to treat disabled colleagues. pupils and visitors with the same dignity and respect as their non4isabled counterparts. Any fom) of harassment of a person with a disability on account of their impairment is unacceptable behaviour and is potentially unlawful under the temis of the Equality Act 2010 and the Protection from Harassment Act 1997. The School has a rolling programme of improvements within an Eslates Masterplan designed to offer better access and facilities for disabled staff. pupils and visitors. This includes alterations to improve physical access and facilities for disabled pupils, staff and visitors, as well as providing gender-neutral and inclusive toiletslwashrooms and facility for the obseNance of normal religious practices for staff and pupils. 13

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 Employee Involvement The School operates a framework for employee infomiation and consultation which complies with the requirements ofthe Information and Consultation ofEmployees Regulations 2004. The School actively consults with i(s empklyees or their representatives with the aim of taking the views of employees into account where decisions are made that are likely to affect their interests e.g. working practices, pensions, other benefits and curricular. The School involves employees in discussions regarding the development of the Stralegic Plan and informs them on progress at least annually al INSET meetings. Employees are enLX)uraged to present their suggestions and views on all elements of the School. Communication The School communicates with employees in a variety of forms e.g., INSET days, weekly staff briefings, all staff emails. haw-temily line managers. meetings. all-staff meetings, team meetings and Away Days. A comprehensive online Staff Site acts as Ihe primary source of information for all staff and is updated daily. Regular meetings are hekl between management and employees to enable the free flow of information and ideas. The teaching staff have their own Common Room Committee and they hold a term￿ meeting that submit feedback to the Head, for his response. A Staff Voice group, containing representatives from across the workforce. also meets termly to discuss welfare issues and gather feedback on school plans. Throughout the Covid 19 pandemic, the School used Google Meel to hold meetings and on a one-to-one basis lo check on slaff wellbeing. SLT undertook a staff survey and implemented several additional measures to ensure staff continued lo feel involved, listened to, had appropriate equipment and underslood what was expected of them on return to sile or when they were sew-isolaling. A blend of virtual and small staff meetings continued to be the norm. PUBLIC BENEFIT The Directors have carefully considered the Charity Commission's guidance on public benefit. and in particular the supplementsry public benefit guidan￿ on advancing education and on fee- charging. The Directors are confidenl the School is meeting its public benefit requirement. The School's commitment to fuffilling its public benefit obligations is reflected within the School's ethos, its aims and objectives in the Strategic Plan. Examples of the School's commitment are its Financial Assistan￿ Scheme, to WKlen access. its expanding partnership and community activities, its leadership of SCITT training, its charity and fundraising activities and ils environmental impact-. Financial Assistance The School has provided financial assistan￿ through bursaries for many years. The School's main Financial Assistan￿ Scheme is derived from current fee income and is supplemented by income from the 150th Anniversary Bursary Trust Fund and other generous donors, including Ihe Zochonis Charitable Trust. Financial assistance is awarded to pupils on application and following an assessment of parental means with awards ranging from 50A to 100 /0 remission of fees. Financial assistance is also provided to help with the costs of educational Sthool trips. transport. unrfom) and equipment, where a substantial award has already been made. 14

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 This year the value of all bursaries, scholarships. other awards and the Covid 19 fees rebate totalled £1.786m (2019-20= £2.039ml and represenled 10.4/0 of gross fees12019-20'. 11.8% ). This decrease reflects the lower Covid rebate given in 2020-21 £100 per pupil {2019-20 £300 per pupil.) Within this lolal. the value of means-tesled bursaries totalled £1.069m 12019-20: £1.027ml and represented 6.2.10 of gross fees (2019-20.. 5.9/.1. This provided assistance to 99 pupils (2019-20.. 971 of which 37 (2019-20.. 371 benefitted from a full remission of fees. In addilion, the School's Foundation Scheme provides financial support lo existing pupils who experience the death of a parent and whose families find themselves in extreme financial difficulty. This year the School has 2 Foundation pupils. Further. and throughout the pandemic the School offered deferred payment terms and payment holidays to families who had been severely affected by the crisis and who were struggling to conlinue lo pay fees. Assistan￿ was given to 6 pupils (2019-20.. 31 under the CHS Hardship Scheme which provides short-term support to families who are nol eligible for financial assistance from the School's Bursary Fund. The School has historically had limited funds available for this, but several parents and donors generously donaled to help support families who continued to suffer severe and prolonged financial dfficullies due to Covid 19. These measures have led to no pupils needing to leave the school because of Covid-related financial hardship. Partnerships and the Communlty The School both maintained and continued to build its strong links with local state schools. businesses and community groups lo ensure members of the local community benefited from. participated in, and contributed to. wider School lrfe. This cnmmitment isa key partofthe School's strategy and has given staff and pupils the Chan￿ to gain new experiences, see different perspectives and enrich their teaching and leaming. Many of the School's staff share their educational expertise by sitting on the Boards of Governors for local secondary and primary sthools as well as other k)cal charitable organisations. The School works with several local state primary schools offering curricular and co-curricular support in Modem Languages. Scien￿. Music and Sport. Sixth Form pupils on the Modern Languages pathway visit North Cheshire Jewish Primary School, when able, and deliver language sessions. During 2020-21. CHS continued to develop their partnership with Cheadle Heath Primary School. Cale Green Primary School. Adswood Primary School and Lumhead Primary School and formed the Slockport State-lndependent School Partnership. Despite the pandemic restriclions, partnership activities be￿een these schools continued during the last academic year including the organisation of collections to support those most affected by Covid The Science Outreach Programme funded by The Oglesby Charitable Trust since 2007 was reactivated at the end of the academic year as Covid 19 restrictions allowed the recommencement of some outreach activity with our partner schools.. unused allocation will be rolled fomard into academic year 2021122. Exciting work during the pandemic invoW the development of an innovative programme - the Wodd of Languages (WoLLoWI programme, whith was developed in collaboration with Norwich School and the fomier Headteacher of King Edward School, Bimingham. The programme is gaining signrficant traction among HMC schools and was delivered across our partner schools and in our own Junior School.

CHEADLE HULME SCHOOL Report and Flnancial Statements- Year Ended 31 August 2021 In addition to this. a group of schools began to collaborate remotely during the pandemic led by CHS and Schools Crossing Borders. developing an intemational dimension to our partnership work.( hlt s'.Ilschoolscrossin borders.coml . When Covid 19 restrictions were relaxed. the School resumed letting of the swimming pool, gym and outdoor artrficial pitches to a variety of local clubs and organisations. The lettings of facilities, when they were not required by the School. also provided incorne to CHS Enterprises. Wherever possible, pupils and staff have continued to participate in a variety of service and outreach activities - such as working with local primary and secondary schools and fundraising for charitable organisations. Allhough Covid 19 restrictions hampered a great deal of activity, the planning is in place to recover to 'norms' in the coming year. School-centred Initial Teacher Training (SCITT) The School has berxjme a regional hub for the National Math5 and Physics (NMAPS) SCITh, recruiting 4 trainee Maths teachers in its first year. In addition. the hub also involves CHS working in partnership with Kingsway School. which provided a year-long placement for a further 2 of their Maths Irainees. CHS also hosled a one-year long placement Modem Language trainee for the Bolton School Hub of the Nalional Modem Languages SCITh. Th8 SCITT will continue to be developed in 2021-2022. Charity From its foundation, the School has had philanlhropy at its ￿re. Today. pupils and staff remain committed to making a difference and each year they undertake a range of events to raise vital funds for charities, both in the vicinity of Cheadle Hulme and further afield. As well as supporting nominated School and House charities, pupils are encouraged to create their own events to raisefundsforcauses thatmean something lo them personally. Senior School pupils conlinued to support the East Cheshire Hospice, Beechwood. and 42nd Street and Make a Wish Foundations. The Parents, Associatron, working with the Sixth Form Council. organised a whole school collectior) to support local foodbanks. including those at 3 of our partner primary schools, at Christmas 2020 and Easter 2021. Some of the other charitable inttiatives which I￿k place last year were the 50th Annual Charity Hike to raise funds for the School in The Gambia, a Year 7 collection for Cash4Kids and Rucksack Challenge for The Wellspring. The Junior School fundraised for the Woodlands Trust and Shelter. During a remote Charity Day, they developed community links with pupils supporting a local Bamardo's Covid 19 appeal, while Wodd Book Day saw impressive collaboration from staff and thildren working across year groups to enjoy books and embrace reading for pleasure. ACHIEVEMENTS AND PERFORMANCE Pupil and Staff Numbers The School has had a successful year with pupil numbers (pre-school to Year 13, 3-18 yeardolds) al 1474 (2019-20.. 14911. During the second Lockdown. CHS recorded attendance at over 90ty/. for remote form-timelassemblies and lessons. 16

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 There were 308 members of staff {2019-20 restated= 306} induding 159 teaching staff12019- 20.. 157) and 149 administrative slaff {2019-20'. 150). Academic Results As in 2020, no public examinations took pla￿ in summer 2021. CHS pupils. like those across the country, were awarded results which were derived from assessments undertaken by the School, including a set offormal assessments in May. The high standards our pupils performed al in their studies was reflected in the final results. At GCSE, 79.5 /0 of grades were awarded at 7-9, and at A-level, Pre-u and BTEC, 92.7°/o of grades were awarded at A"_B or equivalent. These results enabled our pupils to progress to their destination of choice, with 91 pupils going onto their first-Ghoice university- Our wide-ranging curriculum at Sixth Form has also equipped pupils with the skills to succeed in a range of environments, with students also being successful in progressing bolh to degree apprenticeships and directly into the workplace. A-level, Pre-u & BTEC Cumulatlve Y• 41.7 74.6 92.7 97.2 99.7 100 100 41.7 32.3 18 GCSE Cumulative % 35 35 25.8 60.8 18.7 79.5 12.4 91.9 99 99.9 100 100 Senior School The whole-5chool academic focus in 2020-21 was to 'maximise the effectiveness of remote learning provision for all pupils and embed the lessons ￿arned into teaching and learning.. Across the academic year. the School continued to develop rerTh)te leaming provision. Hybrid learning became embedded, with classes often featuring some pupils attending in-person, and some attending via Google Meel. Procedures and best practi￿ o)ntinued to develop through the year, including remote assessmenls for some pupils in October and February. Teachers developed new and effective approaches to settyng work, designing schemes of work and assessing pupils. 17

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 Professional Leaming Communities (PLCS) for teachers, and use ofa school-designed Teaching and Learning website dedicated to sharing best practice, supported various aspects of remote learning, such as using video instruction. developing collaboration in the remote classroom or Google Educator qualrficalions. This was complemented with sites for pupils designed to help with study habits and metacognition. as well as to stretch and challenge pupils. The CHS Thinking Skills Curriculum continued to be developed, with all pupils in Years 7 and 8 undertaking independent research projects. Sn addition. a sucTrssful Higher Project Qualification {HPQ} pilot in the Upper School and ￿ntInued success of the Extended Project Qualification {EPQ) in the Sixth Form reflect Ihe efforts to focus on the independent learning skills of CHS pupils. The Sixth Form curriculum evolved further, with the first pupils achieving the Arts Award. The options beyond the three subjects in Sixth Fomi are now wide-ranging, including the EPQ, Core Maths, the Arts Award and a rdnge of activities in our Pathways programme covering the arts, elite sport. enterprise and finance. medical saences, modem languages and STEM. A team of teachers completed the reform of the Lower School Curriculum, to be introduced in September 2021. The curriculum focuses explicitly on the competencies developed by each academic subject, as well as allowing pupils to explore a range of interdisciplinary themes with contemporary relevan￿ in 'The Big Questions.. An additional team of stsff also worked to design a new Lower School Diploma. lo be introduced in September 2021. to capture pupil achievement across the School in our academic. altruistic and active pillars. Junior School For extended periods of this academic year the Junior School provided in-school, remote and hybrid learning opportunities for children affected by Covid 19. Pre-school remained open throughout the year, even as Ihe School moved online for the Spring Term following a national lockdown. CHS remained open to support Critical Workers and Vulnerable children in Reception to Year 6. The School identrfied ways to inwrove the delivery of all three D￿thodS of learning. based upon previous eXperIen￿S and collaboratively created a procedural document, which set clear and realistic expectations of staff for children in Pre-school to Year 6. This was followed, throughout the year, with good practice shared in regular 'Remote Leaming, staff meetings, with relevant reSoUr￿S purchased to support children and parents. The use of Google Meet with pupils, at least daily, allowed staff to provide continued pastoral support to all children at home, through dedicated form ts'mes or more targeted support for those that required it. The slandard of teaching and learning remained impressive. and parents made clear, through written and verbal feedback, that they were extremely pleased by the structure and blend of the learning offer. An online reading plaffom) was purchased lo ensure that children had regular access lo online reading materials. while a verba14eedback 'throme extension, proved extremely popular wilh leachers, parents and children at a dtffi(JJlt time. With all children back on-site for the summer temi. the end-of-year assessments demonstrated reasonable progress in mathematics throughout the school with children broadly meeting national age-relaled expectations. Although there was also progress in Reading and Writing. attainment was down on previous years. in-line with k)cal and national dats. A curriculum review will result in increased lime being given to support Reading within the timetable for academic year 21122. alongside a commitment to improve the quality and breadlh ofteaching wilhin Humanities, where a Subject Leader was appointed. and an improvement plan created. 18

CHEADLE HULME SCHOOL Report and Financial Statements - Year Ended 31 August 2021 An increase in sports fixtures in the Summer Temi meant that every child in KS2 represented CHS competitively. while a ￿lebratory, final fortnight saw every chikl in the school enjoy an educational visit off-site and an on-site fun activities fayre for their efforts throughout a challenging year. Co*urrlcular activities Both Ihe Senior and Junior Schools offer wide ranging Covcurricular activities which remain a strength ofthe CHS experience. The majority of pupils from the Junior Sthool through to the Sixth Form engage in a diverse range of clubs, competilions and quizzes.. A wide variety of sports, music. drama, clubs, Model United Nations (MUN}, trips, visits, experiences. talks. visitors and areer opportunilies all create a rith tapesty of choice and opportunity for learners to develop skills and character beyond the fomial academic dassroom. CHS pupils perform to a high standard in the Arts. In Music. Junior School pupils are entered for extemal examinations offered by LAMDA and in Music. CHS pupils achieve very high musical slandards as individuals and in ensembles. Individually. pupils can be examined on their instrument through Ihe ABRSM or Trinity and Guildhall exam boards. Visiting Music Teachers offer lessons on all instruments and voice. including lessons as DJ and in Rock music. Co-curricular ensembles and choirs continued to rehearse during the pandemic by ensuring Covid 19 safety procedures were followed, allowing for a full and rich provision. Ensembles include Concert Band, Big Band, Orchestra, numerous choirs and a range of Smaller instrumental ensembles and choral groups. Several pupils were selected for national orchestras and choirs. In co-curricular Drama both small and large-scale productions continue to be prepared, with drama clubs available for younger pupils. Several pupils have been accepted onto highly prestigious and extremely competitive courses. Art is a real strength of the school with a huge range of diverse materials and media employed. The School has an Art2Buy scheme, an initiative that allows Old Waconians to donate a digital image of their athork. Funds raised from the sale of these are used to pay for artist workshops so thal current pupils might benefit from the legacy of their peers. Although Covid 19 halted the sale of these items, the initiative is still in place to relaunch onc£ it is safe to do so. The School continued to be the only school involved in the Manchester Art Fair and is expecting to exhibit and enable pupils to sell their art as the new term begins. The full range of the Duke of Edinburgh Awards has continued to be an extremely popular and successful activity with approximately 200 CHS pupils participating across the three levels. Expeditions in the Autumn, Spring and Summer terms took place as scheduled. despite some Covid postponements and re-shLrfning. Pupils from all year groups in the Senior School aTh￿ some from Year 6 have been involved in the Model United Nations. Each year. a core group ofsixth Formers form the Organising Committee for the School's conference. Model Uniled Nations Cheadle Hulme, or MUNCH. which is one of the biggest and most prestigious MUN COnferen￿S in the country. The MUN programme also includes approximately ten conferences per year held at schools in various parts of the country. as well as MUN events in school for Years 7-9, organised by the older students and known as MiniMUNCH. Despile the impact of Covid 19. which meant conlinuing curtailment of inter-school face-to-face conferences. MUN has continued to offer opporlunilies for pupils from different schools to meet remotely. The maintenance of activity in this area will see a seamless return to physifAI events at the start of the coming academic periLNJ. 19

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 MUN continued to false money for Small Steps. a charity vthich supports nursery age children in Uganda with special needs, founded by Cat Dunlop. a former pupil of CHS. Over £20,000 has been raised to date. Academlc competitions are also popular at CHS. This year approximately 440 students took part in the national Maths Challenge. In Modem Languages students in the Lower School competed in Ihe Mother Tongue. Other Tongue competition for poetry. In the Upper School and Sixth Form, many students enter the UK Linguistics Olympiad, the Stephen Spender Prize and the ISMLA Creative Writing Competition. Each year CHS hosts the Modern Languages Debating Compelition for Sixth Form linguists. Pupils also had the opportunity to be part of the editorial teams for the school magazine, "The Waconian". the biannual Modern Languages magazine, "The Cullured Linguist Expressions" the Humanities magazine and "Sciclopedia" the Scien magazine. PASTORAL CARE The School pla￿$ considerable emphasis on its pastoral provision and endeavours to provide a safe and welcoming environment. free from anyform of discrimination, ￿ere everyone is valued and treated with mutual respect and equal worth. Pastoral care is designed to support the progress and development of each pupil and to build resilience in pupils to deal positively with the challenges they face. Work has continued this year to embed the systems used to track and assess pupil physicAI and mental health and wellbeing, with the introduction of Student Mentoring Plans. The School has put in place a range of interventions tailored to meet individual pupils, needs. The Deputy Head (Pupil Welfare) is the Designated Safeguarding Lead. All staff, govemors and those working directly with pupils are Irained to the appropriate level in safeguarding and child protection issues to ensure that all children re￿1ve effective support and protection. Staff also undertake areas for specrfic training. All staff and governors undertook Prevent Training to raise awareness around early intervention around radicalisation. Staff also receive regular update training regarding the School's policies. which are based on DE guidan￿. Through Covid 19. CHS continued to provide group and one-to-one support for any pupils who were struggling with a sense of disengagement or anxiety- Year 11 were provided with a Digital Innovations Challenge and their Induction to Year 12 included courses in team building, all of which was live and interadive. For Year 13. the Beyond CHS programme provided academic challenge. careers and further education advi￿ as well as one-to-one sessions for pupils whose plans changed. First Ald and Counselling Servlce The School Nurse offered an increased drop-in service and support for pupils with health conditions such as eating disorders and mental health in this peric*J. First Aid also supported growing numbers of pupils in managing their medical conditions and encouraging confidence to live normal lives on their own tems. The School Counsellor supported pupils by producing additional resources to combat anxbety and increase resilience. First Aid staff contributed to Ihe educational programme informing all pupils about the importance of dieuhydralion and managing allergies. as well as supporting the community immunisation nurses with standard age-related vaccine programmes. The First Aid Team, with the support of volunleers, also set up Covid 19 Test Centres. 20

CHEADLE HULME SCHOOL Report and Financlal Statements - Year Ended 31 August 2021 Peer Mentorlng All Low8r School pupils have a 6th Fomi Peer Mentor who supports them once a week during afternoon Form time. They supporl the work of the pastoral team by discussing topical issues and looking at the Waconian values. The mentor programme was delivered remotely for the Spring Term bul subsequently recovered lo faCe-tO-fa￿ events. The Peer Mentor Coordinator {PMC) has also developed an individual peer mentoring scheme, to support pupils who are struggling with friendship issues and low-level mental health concerns. The PMC has qualified as a Well Being Champion {through Worth-it) and is now able to deliver this training to Lead Peer Mentors.. il is the Lead Peer Mentors who carry out 1-2-1 mentoring. In addition, all the Year 12 pupils took part in a Worth-it, course in order to become 'well-being ambassadors,, focussing on mental health and support strategies to help young people. Communication between mentor and menlee is facilitaled and monitored through Google Classroom. We had six Year 8 pupils engaging with 1-2-1 mentoring, three ofwhom have chosen to carry on with their mentor from Year 7. Tutors are also engaging in 1-2-1 catch ups with pupils on a termly basis. Lower School The Lower School pastoral provision was mapped across Year 7 and Year 8 to complement The Waconian Programme, to incorporate Spiritual, Moral, Social & Cultural ISMSCI strands and embed Waconian Values. Each half-term was themed on a key value. For example, Autumn 2020's theme was Compassion with dtfferent weekly foci including: Stress awareness, remembrance, anti-bullying and cultural diversity, all of which correlaled with key nalional events. Assemblies were linked to key themes and tutors support pupils in the planning and preparation of these assemblies, with guidance provided from the Head of Year. and support from 6th Form societies and menlors where appropriate. Upper School The pastoral programme in the Upper School complemented the Waconian programme and helped embed the Waconian Values. Key national and international events e.g. Anti-Bullying Week (November).. Remembran￿ Day (November); Holocaust Memorial Day (January) were also incorporated into the programme. Where appropriate. topics relevant to a particular year group were also addressed e.g.. revision skills (prior to trial or end of year exams) or stress management (Year 11). ReSoUr￿S were provided to allow assembly themes to be followed up in individual forms. enabling students to engage more fully with a given topic, encouraging discussion and debate. Extemal speakers were brought in to discuss topics in greater depth e.g.. Youth Produced Sexual Imagery and Online Safety. Tennly'learning walks. ensured consistency of pastoral care across the Upper School. identifying and sharing better practice. A positive experience. enabling feedback to all Fomi Tutors to provide clarity of expectation in their role. Furthermore, these sessions identified opportunities for development. particularly around how to challenge students effectively and conslructively on the rare occasions they may display or express inappropriate views. This supported the School's focus on issues of diversity and equality which included an extemal survey completed by members of the School community. 21

CHEADLE HULME SCHOOL Report and Financlal Statements- Year Ended 31 August 2021 Sixth Form A select group of Year 12 pupils who are Peer Mentoring leads were trained as Wellbeing Ambassadors in order to better support the Peer Mentoring programme. They in tum delivered this training to their peers which will enable the Year 12s to keep supporting the programme in 2021-22 as Year 7 move into Year 8. Training was also delivered by Year 12s to Year 11s in Ihe summer term in advan￿ of them coming into Sixth Fomi and taking on the role of Peer Mentors. Year 13 had a cycle of lectures which exposed them to a range of speakers covering topics such as careers, mental health, global affairs and pastoral wellbeing. Delivered remotely for much of the year. a full programme was offered nonetheless. Year 12 had a weekly focus on a range of tOPlGS as well as on careers in the Springlsummer Temis: Mental health and personal wellbeing - a big focus during remote learning. Public Sexual Harassment, in response to the Sarah Everard murder. led to Year 12 putting logether an awareness project 'ln Her Sh08s' (outlined bek)w}. Random Acts of Kindness. From September 2021, the Sixth Fom pastoral structure will be ordered into three Halls: Chadderton Hall. Shaw Hall and Park Place Hall. each wilh a Head of Hall as the pastoral lead to enhance levels of care, support and challenge. The Waconian Programme The Waconian Prografflme is bespoke to Cheadle Hulme School and was introduced to pupils in Years 7 to 11 in September 2019. It covers material addressed in PSHEIPHE lessons in other schools,. the programme's five main topic areas are.. health (physi￿1 and mental), study skills. citizenship, relationships and future self. Issues covered are always related back to the Waconian Values (Resilience. Endeavour, Compassion. Integrity and Contribution} and how they can help with positive decision-making in lrfe. JunK)r School pupils have a similar programme called Learning for Lrfe. The Waconian Programme lessons were adjusted to make them accessible remotely as well as relevant to the situation that our pupils found themselves dealing with. In addition. Ihere was an increased programme of external speakers both in lessons and form time. Some of these events were also extended to parents in both the Senior and Junior sCh￿IS during this year.. 'Kooth' did presentalions to all pupils from Years 8 - 12 to infom them about the online counselling they offered and their sew-help forum. The Prime Agency spoke to the Year 8 pupils about cybert)ullying and the effects of social media DC Claire Leonard, who is the C￿)er Choices {Prevent) Officer for Greater Manchester Police and has 25 years, experience in policing, spoke to the Year 9 and CHS parents about Cyber Crime and Online Safety. Parents were invited to attend an evening meeting. Sharon Girling OBE, who initiated the prospect of policing child abuse on the inlernet in the United Kingdom and developed the concept for the national unit. Ihe Child Exploitation and Online Protection Centre (CEOP). spoke about Online Safety to Lower School. She also did a live stream session to parents in both Senior and Junior schools. Parents were invited lo attend an evening meeting with Sharon resulting in excellent attendance. Chris Hemmings. joumalisl and author of'Be A Man How macho culture damages us and how lo escape iv spoke to our Year 10. 11 and 13 about how certain aspects of masculine expectations can be damaging to society. 22

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 Rt Hon Lord Bradley PC held a Duital Surgery wilh Year 10 Citizenship students in the Waconian Programme lesson and topics that are of interest to them both locally and nationally were discLFssed. The RAP Project spoke lo Year 8 about Body Image in their talk Altered. Airbrushed and Unrealistic and to Year 11 about Social Skills for Lrfe. There have also been numerous speakers to help pupils wilh career choices. Through The Waconian Programme, pupils were encouraged to contribute to the largest ever survey of the views of young people in England. in The Big Ask. The Waconian Diploma The planning forthe Waconian Dipk>ma began in September2020. A small team ofsenior School teachers mel on a weekly basis to work through the process. All slakeholders - staff, parents and pupils were consulted to ensure that it would be a positive addition to the School offer. There were also a number of meetings with schools around the country who have a similar award. The aim of the Waconian Dipk)ma is to recognise, incentivise and reward our Lower School pupils in all the activities that they undertake. both in School and at home. Each pupil will log their various activities and link them to the three pillars of the School (Academic. Active & Altruisticl, alongside highlighting which Waconian Value they feel they have exhibited in the activity. with self-reflection around this value. The Diploma will be compleled by the end of Year 8. It will be rolled out to each Year 7 group as they join the School. Leadership and Anti-bullying 15 students from Year 5-11 all took part in the Diana Award Anti-bullying training in April. We now have a range of pupils across both the Junior and Senior Sthool who are all Anti-Bullying Ambassadors. This means they have been trained to be 'upstanders' in the community. identifying bullying behaviour and knowing how to challenge it. Pupils who attended were invited to a follow-up meeting to discuss nexi steps in the programme- they look the lead in planning and preparing a whole-school programme for anti-bultying week in November 2021. Reactlon lo concerns (beyond CHS) regardlng misogyny, consent, sexism and abuse In response to wider external movements. the School.. Reviewed its provision for education of young people regarding preventative educational progratnme. Helped reinforce a sense of personal conscience in terms of behaviour. Ensured that it could identrfy and support any pupils who might require it. Reinforced the pathways to report concems and reassurance that pupils will be heard. Investigaled and acted upon any report of gender-based abuse. In addilion. a specffic project, 'In her Shoes.. vras undertaken by a group of ￿e1ve Year 12 students, in response to the public debate about Public Sexual Harassment IPSHI. To raise awareness. they delivered an assembly to their peers and asked students to share experiences of their own (with specrfic safeguarding controls) which was turned into a display in the Sixth FoTh Centre. The display includes statistics on PSH and advi￿ as to where individuals can access help and support resulting in a positNe response wilh students of all genders and improved understanding regarding the COn￿ptS of consent and challenge. 23

CHEADLE HULME SCHOOL Report and Flnanclal Statements- Year Ended 31 August 2021 CHS Pastoral Conference 2021: Compassion A Pastoral Conference was held in May 2021, attended remotely by members of the School community and those from other schools. The speakers were renowned authorities and provided insight and guidance on key topics around compassion and helped colleagues and parents navigate the changing lands￿pe of society, technology and well-being. The conference also celebrated the work of, and sought to motivate. pastoral leaders and provide some space for them to reflect on their work and achtevements during some of the most challenging ff￿nths of their career. Environmental Sustainability The School's environmental sustainability plan aims to raise awareness of environmental responsibilities and the impact on the world. It focuses on reducing Ihe amount of waste produced in School. sourcing equipment and supplies from environmentally responsible sources and maximising the value of our waste materials with a Landfill Diversion via a Materials Recycling Facility- Through its actions and ambitions. the SchLN)I hopes to influence the behaviour and expectations of pupils as future global citizens and leaders and help them make a positive impact on society. This is a programme that will grow in coming years. Despite the disrupted year, the Junior School were awarded an Eco-school Green Flag for actively engaging with environmental issues and improving the local environment. To celebrate. a dedicated eco-garden was created al the foot of the Green Flag by the Junior School. This year the School continued with the following energy efficient programmes: Completion ofthe Broomefield House refurbishment with double glazed windows and LED lighting. Preservation of heritage assets through roof repair and intemal upgrade with LED lighting. Boiler upgrades and replacements. Conlinuation of the phased roll-out of replacing inefficient lighling with LED. Banning the use of plastic straws and stirrers and replacing single-use plastic bags and polyslyrene foam items with compostable cups, lids and food containers. Continuing to support the CHS Parents Association with clothing collections and seGond- hand unifomi sales. Promoting to pupils the use of a reusable water bottle in school and filling this up at water dispensers throughout the school estate. The School's energy data is as follows.. 2020-21 2019-20 (restated) UK Energy use (kwh) 4.501.307 4,054,975 Associated Greenhouse gas emissions (Tonnes C02 equivalent) 853.715 794.146 Intensity ratio Emissions per pupil 579 533 24

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 UK energy use covers gas, electricity and diesel use across all School buildings and vehicles. It also includes the cost of reimbursing staff for travel. Associated greenhouse gases have been calculated using the conversion factors from the Department for Business. Energy. and Industrial Standard. The increased energy use in 2020-21 reflects the site closure period due to the Covid 19 pandemic in 2019-20. Strict vents'lation requirements also increased gas use for heating. FINANCIAL Statement of Financial Activitles The School aims to make a minimum annual surplus on its unrestricted funds, before depreciation. of belween 8-10 /0 of income. This is in line with the sector benchmark and means the School can generate sufficient cash reserves to ensure it has an appropriate level of working apital to meet its commitment lo operate the School for the entire educational lrfe of its pupils as well as fund critical investment in pupil facilities. This year. despite the o)ntinuing impact ol the pandemic. the School was still able to achieve this target with a surplus on its unrestricted funds, before depreciation and transfers of £1.96m {2019-20- £2.Oml. This represents 11.40/0 of income {2019-20= 11.6010). After accounting for depreciation. the Retained Surplus for the Year on unrestricted funds amounted to £1.2m (2019-20: £1.1m). The key reason the School met its minimum Income and Expenditure tsrget was its success in recruiting and retaining higher pupil numbers than planned. Total unrestricted expenditure (including depreciation) stayed fial with increased cleaning and other Covid 19 specrfic costs, offset by careful budget management in other areas. Fees continue to be the main Sour￿ of funding. representing 93 % of total unreslricted income. School catering accounts for approximately 5°/0 and income from lettings to cornmunity groups and other third parties i.e., CHSE and donations, is less than 1 /0. Balance Sheet The School's Net Assets have increased by £1.1 m, which represents the surplus for the year across restricted and unrestricted funds. This year, Tangible Assets have decreased lo £19.2m net of depreciation 12019-20.. £19.8m). The School had not planned to undertake any large-scale capital projects this year and considering Covid 19 it limited maintenance spend lo the absolute minimum. Net current assets have increased lo £1.2m. Cash at Bank and in harid has increased to £4.2m (2019-20.. £3.Om). Funds will be used in future years to ensure individual pupil facilities are maintained even Ihough pupil numbers continue to rise and investment will continue in priority projects within the School's Eststes Masterplan. Creditors: Amounts falling due within one year have stayed flat at £3.3m (2019-20.. £3.3m). Creditors: Amounts falling due after more than one year has decreased by £342k which primarily reflects the bank loan repayments made during the year. The School has bank loans tolalling £2.4m. The School's pension liabilities are summarised in note 22 in the accounts. 25

CHEADLE HULME SCHOOL Report and Financial Statements - Year Ended 31 August 2021 Cash Flow Statement The Net Cash Inflow from Operating Activities for the year was £1.1 m 12019-20: £1.2m). There were no key areas of spend within 'Purchase of tangib￿ fixed assets. and this year there was a positive movement in cash and cash equivalents. Pollcy Total reserves amounted to £17.4m at 31 August 2021 {2019-20= £16.3m), ofwhich £96k (2019- 20.. £145k} is restricted. The School has free reserves of £0.4m which is calculated by taking unrestricted reserves of £17.3m deducting Tangible Fixed Assets of £19.2m and adding back Loans of £2.4m. The School continued to invest its reserves back into maintsining its estate and in building up reseNes to fund pre-planned major buikjing. infrastructure and IT projects that are essential for providing an excellent pupil experience and Working environment for staff. The School ensures it has sufficient cash balances to cover ils day-to4ay operations. Critical addilional funds are raised through the activities of the Extemal Relations Development Office. Bank borrowings are carefully monitored. The Directors monitor and review the level of reserves required in line with the School's strategic development plan on a regular basis. The Directors aim to achieve an equitable balance between ensuring ihat current pupils benefit whilst, at the same time ensuring a sound infrastructure and financial base are preserved for the next generation of pupils. just as current pupils benefit today from the investment made in the past. Historically. the Directors have aimed to maintain free reserves at around zero. In the next 5 years, the School developmenl plans include capitsl works to enclose a large area to improve dining and social space and, later, improvements to and expansion of'ABlock'. to enhance music, science and religious studies facilities. Once these developments are complete. the School will revisit its free reserves policy wth a view to increasing free reserves in the following 5 years. Investment policy and objectives The School does not hold any bng-temi investments. Surplus cash is held in instant access bank accounts with the best interest rdte available. Directors periodically review the banks used by the School. However, there are no restrictions on Ihe School's power to invest and this is being considered for up to 1 year to maximise interest on cash holdings prior to their use for major infrastructure projects. Financial Factors To ensure financial stability, the School has continued to work with parents whose income levels have been severely impacted by the pandemic whilst ensuring the School continues to have thé resources necessary to provide the high standard of education facility and staff that parents and pupils expert now and in future years. The School gave a rebate of £100 per pupil to reflect cost savings made during the site closure in the early part of 2021. The government Coronavirus Job Relention Scheme (furlough) was accessed for eligible staff, and where possible, buildings were mothballed for the period albeit more staff accessed the site for providing remote lessons and more pupils were eligible to access the school site as children of Critical Workers. 26

CHEADLE HULME SCHOOL Report and Flnancial Statements-year Ended 31 August 2021 The Hardship Fund made awards to 6 pupils in 2020121. based on a fair. equitable and transparent means tested process. and this has enabled these Children to remain at CHS. The School will continue to review requests to this fund. The School continues to prepare and update 4-year financial projections incorporating SGenario and sensitivity analysis. Directors. Responsibilities The School is confident that the Directors have complied with their dulles in section 172 (11 of the Companies Acl. All key decisions are taken Collectively by the Board. Board papers comprise comprehensive information detailing the rtsks and opportunities facing the School and decisions are taken about promoting the long-term sustainabilty of the School for its pupils, parents, staff, suppliers and local community. An impact assessment is considered for all decisions taken to ensure they are justrfiable, appropriate and will benefit the School and the environment it operates in. Section 172 {11 Statement The Board of Directors have a duty to act in the best interests of the School and also in the best interests of its pupils, staff. parents and other stakeholders, as recognised beneficiaries under charity law. The Directors fulfil this duty by considering ihe long-term factors affecting the School and their impact on its pupils. staff, parents, partners. suppliers and local community. The School's commitment to providing an excellent education for ils pupils is the key driver within its Strategic plan and in its target of continued financial sustainability. The School ensures that engagement with pupils, staff, parents, partners and other slakehokJers infomis the Board of Directors, decision making. Engagement takes place in a range of ways: Puplls Pupil representstives have continued to meet regularly as part of the Pupil Voice School Council to discuss key areas for review and improvement. Pupils have been encourdged to feedback on a range of issues on an informal basis to their fomi tutors whilst more fomial pupil surveys have been conducted each term on a year group basis. The pupil surveys covered all aspects of School life and helped identrfy issues which have arisen or were likely to affect the pupils. experience of School. During the period when the School site was closed, pupils were surveyed more frequently to understand their experience of remote learning and provide feedback on how it could be developed- this as5isled Ihe School in identifying pupils who may have required additional academic or pasloral support. These sutveys also informed longer-term planning. helping the School understand which elements of remote leaming were likely to be effective in the future and aiding teacher ski114evelopment using technology to deliver the curriculum. Following the emergence of the Black Lives Matter movement. the School consulted both with members of the current and fomier pupil communities to better understand their experience of ra￿, diversity and inclusion at CHS- this will infomi the School's strategic approach to inclusion and diver5ily, now and in the future. An extemal survey was commissioned from 'Flair Impact. to review staff and pupil attitudes towards race- the results will shape an impending, specific. Anti-Racism policy. 27

CHEADLE HULME SCHOOL Report and Flnanclal Statements- Year Ended 31 August 2021 Parents The School conducted parent surveys each term on a year group basis. It also encouraged feedback from parents at parent information evenings and by encouraging direct contact with teaching staff and members of the Senior Leadership Team. The School also held a number of parent forums and surveyed all parents to discuss the move to remote leaming, during Covid 19, and their expectations. Parents were given the opportunity to feedback on the School's return to school plans. Staff During the pandemic the School carried out staff surveys which enabled il to gain feedback on their wellbeing and enabled the School to identfy staff who needed additional support. The Employee Involvemenl section eadier in this report gives more details on how the School generally engages its staff. A comprehensive Staff Weffare survey was undertaken. and the findings discussed wilh the Staff Voice group prior lo recommendations for improvements being considered by SLT and Govemors into the 2021 Autumn & Spring terms. Partners The School continued to work collaboratively with its partner schools to develop an appropriate partnership programme. Joint critical evaluation is used to refine and improve delivery. Communities The School's Enterprises Manager (the dedicated CHSE resource) actively and direcily engaged with the community groups who use the School's facilities in the evenings, weekends and holiday periods to ensure suitable risk assessments and training were in place and that the services provided by the School met their needs. Suppliers The School relied on its key suppliers and contractors for delivery of goods and Se￿ices. Appropriate measures were taken to ensure value and price was fairly assessed and that the contracts awarded met the needs ofthe School. Contracts are evaluated, with temily performance meetings held at SLT-level- alternative tender competitions are conducted as fixed-terms arise. Annual signature and agreement is recorded as well as paylinvol￿ schedules. The main contracts are for catering Isodexol. cleaning (Premiserye). ck)thing (Monkhouse) and Transport {Elite). DIRECTORS. RESPONSIBILITIES The Directors are responsible for preparing the Directors. Report and the financial statements in accordance with applicabte law and regulations. Company law requires the Directors to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Ac￿pIed Accounting practi￿ (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial stslemenls unless they are salisfied that they give a true and fair view of Ihe stale of affairs of the company and of the income and expenditure of the company for that period. In preparing those financial stalements. the Directors are required to select suitable accounting policies and applied them consistently= 28

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 Making judgements and estimatss that are reasonable and pnJdent. Following applicable accounting standards and the Charilies SORP 2015. and state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. Preparing the financial statements on the going ￿nCeM basis un￿sS it is inappropriate to presume that the company will continue in business. The Directors are responsible for keeping adequate accounting records Ihat are sufficient to show and explain the company's transactions and disclose with reasonable accuracy al any time the financial position of Ihe company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. GOING CONCERN The Directors have due regard for the going concem of the Charity. The School prepares a detailed budget for the 12 months ahead as well as financial projections for a further 3 years. Actual performance is monitored monthly and cash balances are managed daily. The School continues to have strong pupil recruitment and continues to make good Income and Expenditure surpluses which it Uses to reinvest in its facilities. At the time of approval of the financial statements, the impact of Covid 19 has significantly diminished and most School activities have resumed in full. The Directors have undertaken planning and forecasting and continue to closely monitor the short- and k)ng-tem) effects of Ihe pandemic including issues in supply chains, rising energy costs and with workforce shortages. Directors believe that the school's financial reSoUr￿S and contingency planning is sufficient lo ensure the ability of the School to continue as a 90ing concem for the foreseeable future, being at least twelve months from the date of approval of these financial statements and therefore have prepared the financial statements on a going concern basis. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUD￿oRs So far as the Directors are aware: there is no relevant audit infomiation of which the company's audstors are unaware, and., Ihe Directors have taken all the steps that oughtto have been taken as a member in order lo be aware of any infomiation needed by the audilors in connection with preparing their report and to establish that the companys audiiors are aware of that information. The Directors have also taken all reasonable steps to comply with their obligations as set out by the Charity Commission to act in the besl interests of the charity and comply with their legal duties under charity law. including their duty of prudence. Approval This report was approved by the Board on Ig Cat rine Boyd Chair of the Board 29

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 Indgpgndent Auditor's RgPQrt to the Member5 of Cheadle Hulme SCI￿01 Opinion We have audited the financial statements of Cheadle Hulme Sthool {'the Charitab￿ company ) for the year ended 31 August 2021 which comprise the Statement of Financial Activities, the Balance Sheet. the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounling Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Acthunting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charilable companys affairs as al 31 August 2021 and of its income and expenditure. for the year then ended.. have been properly prepared in aco)rdance with United Kingdom Generally Accepted Accounting Practice." and have been prepared in accordan￿ with the requirements of the Companies Act 2006. Basls for opinion We conducted our audtt in accordance with Intemational Standards on Audiling (UK} IISAS {UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements thal are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibililies in accordan￿ with these requirements. We believe that the audit evtdence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustee's use of the going concem basis of accounting in the preparation of Ihe financial statements is appropriate. Based on the work we have performed. we have not identtfied any material Un￿rtaInlieS relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability lo continue as a going concem for a period of at least twelve monlhs from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this reporL Other information The trustees are responsible for the other infomiation contained within the annual report. The other information comprises the infomialion included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other infomation and. except to the extent otherwise explicitly slated in our report. we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, cDnsider whether the other informalion is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatemenl in the financial slalements themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. 30

CHEADLE HULME SCHOOL Report and Financial Staternents-year Ended 31 August 2021 Opinions on other matters prescribed by the Companies Act 2006 In our opinion based on the w￿rk undertaken in the course of our audit the infomiation given in the Irustees. report, which includes the directors. report and the strategic report prepared for the purposes of company law. for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the stralegic report and the directors. report included wilhin the trustees. report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In lighl of the knowledge and understanding of the charitable company and theirenvironment obtained in the course of the audit, we have not identified malerial misstatements in the strategic report or the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report lo Y(￿ rf, in our opinion= adequate and proper accounting records have not been k8Pt'. or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees. reMunerat￿)n specified by law are not made,. or we have not received all the information and explanations we require for our audit Responsibilities of trustees As explained more fully in the trustees. responsibifities statement set out on page 28 the trustees {who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the truslees detemiine is ne￿$Sary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or emr. In preparing the financial statements. the trustees are responsible for assessing the charitable company's ability to continue as a going concem, disclosing, as applicable. matters relaled to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the charitsble company or to cease operations, or have no realistic altemative but to do so. Auditor's responslbllltles for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK} will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected lo Influen￿ the economic decisions of users taken on the basis of these financial stalements. Details of the exlent to which the audit was considered capable of delecting irregularities, including fraud and non-compliance with laws and regulations are set out below. A further description of our responsibilities for the audit of the financial slatements is located on the Financial Reporting Council's website at.. Mvw.frc.or .uklauditorsres onsibilities. This description forms part of our auditorfs report. 31

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 Extent to which the audlt was considered capable of detectlng Irregularities, including fraud Irregularities. including fraud, are instances of non-complian￿ with laws and regulations. Wè identified and assessed the risks of malerial misstatement of the financial stalements from irregularities, whether due to fraud or error. and discussed these between our audit team members. We then designed and perfoThed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates. focusing on those laws and regulalions that have a direct effect on the delemiination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation, together with the Charities SORP {FRS 102). We assessed the required complian with Ihese laws and regulations as part of our audit prO￿dureS on the related financial statement items. In addilion, we considered provisions of other law5 and regulations that do not have a direct effect on the financial statements but compliance with whith might be fundamentsl to the charitable company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exisl within Ihe charitsble company for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014. Employment legislation and Health & Safety Legislation. Auditing standards limf( the required audit procedures to identrfy non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence. rf any. We identified the greatest risk of material impad on the financial statements from irregularities. including fraud, lo be within the timing of recognition of other income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finan￿ and Resources Committee about their own identification and assessment of the risks of irregularities. sample testing on the posting of journals. reviewing accounting estimates for biases. reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspeclorate. sample testing of other income and reading minutes of meetings of those charged with govemance. Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some material misstatements in the financial statements. even though we have properly planned and perfomied our audit in accordan￿ with auditing standards. For example, the further removed non-compliance with laws and regulations lirregutarities) is from the events and transactions reflected in the financial statefflents. the less likely the inherently limited procedures required by auditing standards would identify il. In addition, as with any audit, there remained a higher risk of non￿etect￿n of i￿egUla￿ties, as these may involve collusion. forgery, intentional omissions. misrepresentations, or the override of intemal controls. We are not responsible for preventing non-compliance and cannot be expected to delect non-complianc with all laws and regulations. 32

CHEADLE HULME SCHOOL Report and Financial Statements-year Ended 31 August 2021 Use of our report This report 15 made solely to the charitable companrfs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audit work. for this report, or for the opinions we have formed. Vicky Szulist Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor The Lexicon Mounl Street Manchester M2 5NT Date 2nd March 2022 33

CHEADLE HULME SCHOOL Report and Flnanclal Statements- Year Ended 31 August 2021 STATEMENT OF FINANCIAL ACTIVITIES (Including an income and expenditure account) Unrestricted Funds Restricted Funds Total 2021 Total 2020 Note INCOME £'ooo £'ooo £'ooo £'ooo Income from: Donations and legacies 236 237 304 Investmenls 14 Ancillary Irading income Charitable acts'vities 908 908 1,012 15.455 15.455 15.301 Total Income 16,602 16,603 16,631 EXPENDITURE Charitable activities 15.410 50 15,460 15,417 Total Expendlture Net School Income for the year before transfer$ 15.410 50 15.460 15.417 1.192 (49} 1,143 1,214 Transfers between funds 19 Net movement in funds 1.192 (491 1,143 1,214 Total funds brought forward 16.119 145 16,264 15,050 Total funds carried forward 21 17.311 96 17,407 16,264 The Statement of Financial ActivitEs includes all gains and losses recognised in the year. All activities are classed as continuing. The notes on the following pages fomi part of these financial statements 34

CHEADLE HULME SCHOOL Report and Financial Statements-year Ended 31 August 2021 BALANCE SHEET Company number: 3823129 Note 2021 2021 2020 2020 £'ooo £'ooo £'ooo £'ooo Fixed assets Tangible assets 10 19,246 19.765 Current assets Deblors Cash at bank and in hand 12 548 4,185 447 3,079 4.733 3.526 Creditors: Amounts falling due within one year Loans Other 13 (200) (3,3301 {348) 13,295) Net current assetsl(liabilities) 1.203 (117) Total assets less Current liabilities 20,449 19,648 Creditors: Amounts falling due after more than one year 14 (3.042) (3.3841 Nel assels 17,407 16,264 Funds Unrestricted general funds Restricted funds 20 19 17,311 96 16,119 145 Total charity funds 17,407 16,264 The financial statemenls were approved by the Board of Directors on 15th Febrllary 2022and signed on its behalf by.. Director The notes on the following pages forni part of these financial statements 35

CHEADLE HULME SCHOOL Report and Financlal Statements- Year Ended 31 August 2021 STATEMENT OF CASH FLOWS 2021 £'ooo 2020 £'ooo Cash flows from operating activities: Nel movement in funds Adjusted for: Depreciation Interest payable Interest receivable (Increase)Idecrease in trade and other receivables Increasel{decrease) in trade and other payables (Decreasg) in pension debt provision 1.143 1.214 770 74 (3) {101) 877 92 (14) 154 (1,191) (94) (116) Net cash inflow from operating activities Cash flows from investing activities Purchase of tangible fixed assets 12511 (227) Interesl received 14 Net cash ouffiows from investing activities (2481 (213) Cash flows from financing activities Repayments of amounts bO￿OWed (3481 (3981 Interest paid {741 (92) Net cash ouffiows from flnancing activities (4221 (4901 Net increase In cash & cash equivalents 1.106 340 Opening cash & cash equivalents 3,079 2,739 Closlng cash & cash equivalents Movement in cash & cash equivalents 4.185 3.079 1,106 340 The notes on the following pages fonn part of these financial statements 36

CHEADLE HULME SCHOOL Report and Flnancial Ststements- Year Ended 31 August 2021 RECONCILIATION OF NET DEBT At1 September 2020 £'ooo Cash At 31 August flow 2021 £'ooo £'ooo Cash at bank 3.079 1.106 4,185 Bank loan due in less than one year [phone]) Bank loan due in greater than one year (2.350) 200 (2,150) 381 1,454 1.835 37

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMEKrs ACCOUNTING POLICIES General Information Cheadle Hulme School is a private company limited by guarantee and is non-profit making. Cheadle Hulme School is incorporated in England and Wales. The registered Offi￿ is Claremont Road, Cheadle Hulme, Cheadle. Cheshire SK8 6EF. Basis of accounting Cheadle Hulme School meets the definition of a public benefit entity under FRS 102. The financial slalemenls have been prepared undef the histori(xl cost wnvention, with the exception of certain buildings which have been included at a valuation made in 1939 and in accordance with applicable accounting stsndards. The financial statements have been prepared in accordance with Accounting and Reporting by Charilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effecttve 1 January 20191- (Charities SORP (FRS 1021}. and the Companies Act 2006. Going concern The Directors have due regard for the going concem of the Charity. The School prepares a detailed budget for Ihe 12 months ahead as well as financial projeclions for a further 3 years. Actlsal performance is monitored monthly and cash balances are managed daily. The School has slrong pupil recruilmenl and continues to make good In¢xJme and Expenditure surpluses which it uses lo reinvesl in its facilities. At the time of approval of the financial slatements, Ihe impact of the Covid19 global pandemic has significanuy diminished and most School activities have resumed in full. The Directors have undertaken planning and forecasting and continue to closely monitor the short and long term effects of the pandemic including issues in supply chains, rising energy costs and with Workfo￿ shortages. Directors believe that the school's financial resources and contingency planning is sufficient to ensure the ability of the School lo continue as a going con￿rn for the foreseeable future, being al least Iwelve months from the date of approval of these financial statements and therefore have prepared Ihe financial statements on a going con￿rn basis. Group accounts The charity has not prepared consolidated accounts as the subsidiary undertaking may be excluded from consolidation on the basis Ihat it is nol material. These financial statements therefore present information aboul the charity as an individual undertaking rather than as a group. Income All income is included in the Statement of Financial Activities when the School is legally entitled to the income and the amounts can be quantified with reasonable accuracy. Income mainly represenls fees earned in respect of tuition given during the year. Fees received in respect of tuition to be given after the year end are included in creditors as fees received in advance. 38

CHEADLE HULME SCHOOL Report and Flnanclal Statements- Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontlnued ... AccouiifiNG POLICIES (CONTD) Donations and gifts All monetary donations and gtfts are included in full in the Statement of Financial Activities when re￿1Vable, provided that there are no donor imposed restrictions as to the timing of the related expenditure. in which case reCc*Jnlt￿n is deferred until the pre-condition has been met. Income (continued) Donations under Gift Aid, together with associated income tax recoveries. are credited as income when the donations are receivable. Legacies are included when the Charity is advised by the personal representative of an estate that payment will be made, rf Ihe re￿Ipl is both probable and measurable. These are included in the Stalement of Financial Activities. Investment income Inveslment income, including associated income tax recoveries, is recognised when receivable. Expenditure All expenditure is accounted for on an accruals basis and has been classrfied to the particular activily where the cost relates directly to that activty- Charilable expenditure This represents expenditure incurred on activities in furtherance of the charity's objects {which includes support costs). Governance costs Costs incurred are those relating to the organisation and running of the charity itself and are included in charitable expenditure. Fixed assets Fixed assets are included in the balance sheet at historic LX)sl except for certain buildings noted above. From 1 April 1993 all plant and equipment purchased with a ￿$t of greater than £1 K is being capitalised and disclosed within the fixed asset note. Depreciation is provided evenly on the cost of plant and equipment to write them down to their estimated residual values over their expected useful economic lives of 5-20 years. Equipment relating to computers is written down over 5 years. Fixtures and fittings are written down over 10 years. Buildings are being depreciated over a lrfe of 50 years. Certain improvemenls to properties are depreciated over their estimated useful IFves. ranging from 5 to 20 years. Taxation The School is not liable to taxation on the results of its Charitab￿ activities as it is a registered charity. Pensions School staff are members of one of two pension schemes. Teachers. Pension Scheme is a defined benefit scheme and Independent Schools. pension scheme is defined contribution. Moro details of the schemes are given in note 22. 39

CHEADLE HULME SCHOOL Report and Financial Statements - Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontinued ... ACCOUNTING POLICIES (CONTD) Inveslments Investments in subsidiaries are measured at cost less accumulated impaim)ent. Defined Benefrt Schemes Teachers, Pension Scheme Full-time and part-time teaching slaff employed under a contract of service are eligible to contribute to the Teachers. Pension Scheme (TPS}. The TPS. a statutory, contributory, final salary scheme is administered by Capita Teachers. Pensions on behaK of the Department of Educalion. As the School is unable to identrfy its share of Ihe underlying (notional) assels and liabilities of the scheme. the School has laken advantage of the exemption in Financial Reporting Slandard {FRS) 102 and has accounted for its contributions to the scheme as if it were a defined contribution scheme. The pension costs for the scheme represent the contributions payable by the School in the year. Inde endenl Schools, Pension Scheme Non-teaching members of staff appointed during the year were offered membership of the Independent Schools, Pension Scheme (ISPS) Defined Contribution seclion. The contributions paid by the School during the year are charged to the Slatemenl of Financial Activities. Non-leaching members of staff appoinled prior to 1 September 2013 were eligible to be members of the ISPS funded multi•employer Defined Benefit section. The scheme is closed to new employees. As the School is unable to identfy its share of the underlying Inotionall assets and liabilities of the stheme. the School has taken advantage of the exemplion in Financial Reporting Standard IFRS) 102 and has accounted for its contributions lo the scheme as rf it were a defined Contribution scheme. If the actuarial valuation of the scheme reveals a deficit, the Directors will agree a ￿COVery plan to eliminate the deficit over a specrfied period. This is hekl as a liability in the financial statements, as detailed in note 16. The pension costs for the scheme represent the o)ntributions payable by the School in the year. Reserves The School has a number of restricted income funds to account for situations where an income stream requires that the income must be spent on a particular purpose. All other funds are classrfied as unrestricted funds. 40

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontinued ... CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAIN In applying the charily s accounting policies. the Direclors are required to make judgements, estimates and assumptions in determining the fArrying amounts of assets and liabililies. The Directors. judgements, eslimales and assumptions are based on the best and most reliable evidence available al the lime when the decisions are made. and are based on historical experience and otherfactors that are ￿nSIdered to be applicable. Due to the inherenl subjectivity involved in making such judgements, estimates and assumptions, the aclual resulls and outcomes may differ. The eslimates and u￿lerIyIng assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in Ihe period in which the eslimate is revised. if the revision affects only that period. or in the peri(xl of the revision and future periods. rf the revision affects both current and future periods. Crilical accounting judg8ments The critical accounting judgements that the Directors have made in the process of applying the charity's accounting policies that have the most signrficant effect on the amounts recognised in the statutory financial statements are discussed below. Pension deficit provision The charity has an obligation to pay deficit funding contributions towards the multi- employer defined benefit pension scheme. This provision is dependent on a number of factors including discount rate, lrfe expectancy and asset valuations. The assumptions reflect historical experience and current trends. Key sources of eStiMat￿n uncertainty The key assumptions conceming the future. and other key sOur￿S of estimation un￿rtaintY, that have a significant risk of causing a material adjustment to the carying amounts of assets and liabilities within the next financial year are discussed bebw. Determining residual values and useful economic lives of propety, plant and equipment The charity depreciates tangible assets over their estimated usefijl lives. The estimation of the useful lives of assets is based on historic perfomiance as well as expeGlations about future use and therefore requires estimates and assumptions to be applied by the Directors. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product lrfe cycles and maintenance programmes. Judgement is applied by the Directors when detemiining the residual values for plant, machinery and equipment. When determining the residual value, the Directors aim to assess the amount that the charity would currentty obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic lrfe. Where possible this is done with referen￿ to exiemal market pri￿s. 41

CHEADLE HULME SCHOOL Report and Financial Statements - Year Ended 31 August 2021 NOTES TO THE FINANCIAL sTATEmE￿s Icontlnued ... CHARITABLE ACTIVITIES - FEES RECEIVABLE 2021 £'ooo 2020 £'ooo Fees receivable consist of: School fees Less.. total bursaries, scholarships and Covid19 fees rebate 17.242 (1.787) 17,340 (2,039) 15,455 15,301 Add back.. Bursaries and other awards paid for by restrided funds 15,455 15,301 Bursaries, scholarships and other awards were paKI to 234 pupils (2020.. 2371. Within this means-tested bursaries totalling £1.069K were paid lo 106 pupils (2020.. £1.027k to 97 pupils). CHARITABLE ACTIVITIES - OTHER INCOME 2021 £'ooo 2020 £'ooo Catering fees Entrance and registralion fees After school and other clubs Income from CHS Enlerprises CJRS income Other income 646 36 68 68 70 19 621 29 74 114 163 908 1.012 INVESTMENT INCOME Total 2021 £'ooo Total 2020 £voo Bank interest 14 14 42

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 GRANTS AND DONATIONS RECEIVABLE Unrestricted Funds £'ooo Restricted Endowment Funds Funds £'ooo £'ooo Total 2021 £'ooo Grants received for Bursaries from.. CHS 150 Anniversary Bursary Trust Oglesby Trust STEM and ART bursary donations Peter Kershaw income Hardship fund 150 150 10 71 10 71 236 237 Unrestricted Restricted Endowment Funds Funds Funds £'ooo £'ooo £'ooo Total 2020 £'ooo Grants received for Bursaries from: CHS 150, Anniversary Bursary Trust Specrfic students Oglesby Trust STEM and ART bursary donations Peter Kershaw income Hardship Fund 100 100 14 14 10 72 10 72 101 101 189 115 304 43

CHEADLE HULME SCHOOL Report and Flnancial Statements - Year Ended 31 August 2021 ANALYSIS OF TOTAL EXpEND￿uRE Staff Costs £'ooo 2021 Total £'ooo Other £'ooo Charilable expenditure 11.667 3.793 15.460 Staff Costs £'ooo 2020 Total £'ooo Other £'ooo Charitable expenditure 11,617 3,800 15,417 Tolal expenditure are ststed after charging.. 2021 £'ooo 2020 £'ooo Depreciation Auditor's remuneration - audit - non-audit (other assuran￿ Servi￿S} 770 877

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontinued ... STAFF COSTS 2021 £'ooo 2020 £'ooo Staff costs were as follows:. Salaries Social security costs Pension costs Private medical insurance 9.043 903 1.673 48 8,995 899 1,668 55 11,667 11,617 Included within wages are terMInat￿n and voluntary Severan￿ payments of £nil (2020: £1.5001. The average number of employees in the year analysed by function vMs:_ 2020 Restated No 2021 No Teachers Fund raising and publicity Management and administration 159 157 144 144 308 306 45

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontinued ... STAFF COSTS (CONTD) The following analysis shows the number of higher paid staff in the following ranges. Emoluments indude salary, taxable benefits in kind and other payments to employees. 2021 No 2020 No £60,000 to £69,999 £70,000 to £79,999 £80,000 to £89.999 £90,000 to £99,999 £130,000 to £139.999 £140,000 10 £149,999 Retirement benefits under defined benefrt and defined contribution schemes are accruing for the above staff. No Director received any remuneration during the periLJ. No12020- no) director received reimbursed expenses and expenses paid directly lo third parties of £nil12020- £nil) during the period. The key management personnel of the Larity comprise the Directors, the Head, three Deputy Heads, the Chief Operating offi￿r. Ihe Second Master and the Developmenl Director. The total employee benefits of the key management personnel of the Trust were £802k {2019-20 £777kl. 46

CHEADLE HULME SCHOOL Report and Financial Statements-year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontinued ... 10. TANGIBLE FIXED ASSETS Freehold Land and Buildings £'ooo Plant and Equipment £'ooo Total £'ooo Cost or valuation Al 31 August 2020 Additions 25,765 104 1,371 147 27,136 251 At 31 August 2021 25.869 1.518 27,387 Depreciation At 31 Augusl 2020 Charged in year 6.786 587 585 183 7,371 770 At 31 August 2021 7,373 768 8,141 Net book value At 31 August 2021 18.496 750 19,246 At 31 August 2020 18.979 786 19,765 Fixed assets are included in the balan￿ sheet at the following values'.- Land Buildings Equipment at historFc cost at 1939 valuation vrith subsequent additions at cost atcost As records are not available back to 1939 and as a result of the passage of time. the 1939 valuation used for buildings is deemed to be cost for the purpose of FRS 102. All the tangible fixed assets are used for dired charitable purposes. As at 31 August 2021. the School had no capital commitmenls. 47

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Iconllnued ... 11. INVESTMENTS Historic cost as at 31 August 2020 and 2021 The above investment represents 100Q/o of the issued ordinary share capitsl of Cheadle Hulme School Enterprises Limited. The registered Offi￿ of Cheadle Hulme School Enlerprises Limited is Claremont Road, Cheadle Hulme, Cheadle. Cheshire SK8 6EF. It's principal activity is the lettings of the school premises. As at 31 August 2021. its reserves stood at £31,626 (2020 £68.3081 and its profit for the year was £31.625 {2020 - £68,307). 12. DEBTORS 2021 £'ooo 2020 £'ooo School debtors Prepayments and accrued income Amounts owed by associated undertakings Other debtors 18 376 49 459 33 50 549 447 13. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2021 £'ooo 2020 £'ooo Bank loans (note 15) 200 348 348 200 Trade creditors School fees in advance (note 17) Other taxation and Social Security Other creditors Accruals Sundry School pupils. accounts Cheadle Hulme School 150th Anniversary Bursary Trust Fund Pension deficit provision (note 16) 398 2.120 228 292 119 24 30 119 272 1,956 229 506 142 23 51 116 3,330 3,295 48

CHEADLE HULME SCHOOL Report and Financial Statements-year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontlnued ... 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2021 £'ooo 2020 £'ooo Bank loans- secured (note 15) School fees paid in advance (note 171 Pension deficit provision (note 16) 2.150 47 2,350 71 963 3.042 3,384 There are two loans. one is a variable loan of £1M payable at 1.7% above LIBOR and the second is £2M al a fixed rate of 3.510/0. Both loans are repayable quarterly in equal instalments unlil 2026 and then a lump sum payment of £1.45M. At the end of De￿mber 2021, the first loan migrated from LIBOR to SONIA. All loans are sacured by a charge over the land and buildings of the Schwl. 15. CREDITORS: LOANS Loans are repayable as follows- 2021 £'ooo 2020 £'ooo In one year or less Between one and two years Between two and five years In five years or more 200 200 1,950 348 200 1,117 1,033 2,350 2,698 49

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontlnued ... 16. CREDITORS: PENSION DEFICIT PROVISION Included within Creditors due within one year and more than one year is a mulli-employer defined benefil pension scheme deficit and the estimated employer debt. Following the valuation of the scheme as at 31 March 2016, the ￿￿trIbutIOnS payable by the employer have been communicated relaling to recovery of the deficit over the 13 years to 31 August 2029. As of the balance sheet date the estimated discounted employer deficit is detailed below. 2021 £'ooo 2020 £'ooo Pension deficit provision as at 1 September 2020 Deficit contributions paid Remeasurement of defined benefit pension 1,079 (117) 1,169 (112) 22 Pension deficit provision as at 31 August 2021 Less.. amount due within one year 963 (119) 1,079 (116) 963 17. CREDITORS: DEFERRED INCOME 2021 £'ooo At 1 September 2020 Received during the year Discounts given during the year Released to income for the year AI 31 August 2021 2.027 1,678 1.544 2,167 Deferred income represents school fees paid in advance and fee deposits repayable upon pupils leaving the School. 18. FINANCIAL INSTRUMENTS 2021 £000 2020 £000 Financial assets measured at amortised cost (al Financial liabilities measured at amortised cost (b) 4,192 3,097 2,810 2.734 {a} {b} Financial assets include cash. trade and fee debtors and other debtors Financial liabilities indude deposits, trade creditors and other credilors 50

CHEADLE HULME SCHOOL Report and Financial Statements - Year Ended 31 August 2021 NOTES TO THE FINANCIAL sTATEmE￿s Icontlnued .. 19. RESTRICTED FUNDS Balance 1 September 2020 £'ooo Balance 31 August 2021 £'ooo Income Expenditure £'ooo £'ooo Transfers £'ooo Hardship fund Music and Languages Fund Specffic student funds 101 1331 69 18 26 18 1171 145 50 96 These reslricted funds relate to funds received by the School for use for the purposes stipulated by the donor. Hardship fund was created to provide financial support to familie5 Struggling due to the Coronavirus pandemic. Specrfic Student funds were donations made by individual donors for specific students. Junior School Art rwm was a donation from Ihe Parents Association for enhancements to the Junior school art room refurbishment. Balance 1 September 2019 £'ooo Balance 31 August 2020 £'ooo Income Expenditure £'ooo £'ooo Transfers £'ooo Hardship fund Music and languages fund Specffic student funds Junior School Art Room 101 101 25 30 10 17) (18) (10) 18 26 14 65 115 35 145 51

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMEKfs Icontinued ... 20. UNRESTRICTED FUNDS Balance 1 September 2020 £'ooo Balance 31 August 2021 £'ooo Income Expenditure Transfers £'ooo £'ooo £'ooo General 16.119 16,119 16,602 16,602 15,410 15.410 17.311 17,311 There has been no transfers be￿een unrestricted and restricted funds in the period. Balance 1 S8plember 2019 £'ooo Balance 31 August 2020 £'ooo Income ExpenditureTransfers £'ooo £'ooo £'ooo General 14,985 14,985 16.516 16,516 15,382 15.382 16,119 16,119 21. ANALYSIS OF NET ASSETS BEfwEEN FUNDS 2021 Net Current Assetsl (Llabilities) £'ooo 96 Tangible Fixed Assets £'ooo Long-Term liabilities £'ooo 2021 Tolal £'ooo 96 Restricted Funds Unrestricted Funds 19.246 19.246 1,107 1,203 3,042 13,042) 17.311 17.407 2020 Net Current Assetsl (Liabilities) £'ooo 145 Tangible Fixed Assets £'ooo Long-Term Ilabllltles £'ooo 2020 Tolal £'ooo 145 Restricted Funds Unrestrlcted Funds 19,765 19.765 262 117 3,384 3.384 16,119 16,264 52

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontinued ... 22. PENSIONS Teachers, Pension Scheme The School participates in the Teachers, Pension Scheme {°the TPS"} for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £1,476k (2020.. £1,454kl and at the yearnd £175k12020- £173k} was accrued in respect of contributions to this scheme. The TPS is an unfunded multi-employer defined benefits pension scheme govemed by The Teachers, Pensions Regulations 2010 las amended) and The Teachers, Pension Scheme Regulations 2014 las amended). Members contribute on a "pay as you go" basis with contributions from members and the employer being credtted to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Padiament. The employer contribution rate is set by the Secretsry of State folk)wing scheme valuations undertaken by the Govemment Actuary's Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed Ihat the employer conlribution rate for the TPS would increase from 16.4°/¢ to 23.60/0 from 1 September2019. Employers are also required to pay a scheme administration levy of 0.080/0 giving a total employer contribution rate of 23.68V.. The 31 March 2016 Valuation Report was prepared in accordance with the benefrts set out in the scheme regulations and underthe approach specffied in the Directions, as they applied at 5 March 2019. However, the assumplions were considered and set by the Department for Education prior to the ruling in the 'McCloudlSargeant case,. This case has required the courts to consider cases regarding the implementation of the 2015 refomis to Public servi￿ Pensions including the Teachers, Pensions. On 27 June 2019 the Supreme Court denied the govemment pemiission to appeal the Court of Appeal's judgment Ihat transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court's decision and has said it will engage fully with the Employmenl Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. The government announced on 4 February 2021 that it intends to proceed with a deferred Choi￿ underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their setvice during the pericJ between 1 April 2015 and 31 March 2022 at the point they become payable. The TPS is subject to a c05t cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to Ihe Treasury. having in 2018 announced that there would be a review ofthis cost cap mechanism, in January 2019 announced a pause lo the Gost cap mechanismfollowing the CourtofAppeal's ruling in the Mccloudlsargeant case and until there is ￿rtaInty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. Following the public consultation. the Govemment have accepted three key proposals recommended by the Govemment Actuary. and are aiming to implement these changes in time for the 2020 valuations. 53

CHEADLE HULME SCHOOL Report and Flnanclal Statements-year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontinued ... 22 PENSIONS (continued) In view of the above rulings and decisions Ihe assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario. a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation. Until the cost cap mechanism review is completed it is not possib￿ to conclude on any financial impacl or fulure changes to the contribution rates of the TPS. Accordingly no provision for any additional past benefit pension costs is included in these financial statements Independent Schools, Pension Scheme Cheadle Hulme School participates in The Independent Sthools. Pension Scheme ('Ihe Scheme,) which has mulli-employer defined benefit scheme section and a defined o)ntribution section. The Scheme is contracted4)ut of the Stale scheme. There are four benefit structures available. namety: Final salary with a 1160 accrual rale, Final salary with a 1180 accrual rate, Career average revalued eamings with an 1180 accrual rate and Career average revalued eamings with an 11120 accrual rate. An employer can elect to operate different benefit structures for different categories of staff. Cheadle Hulme Schi)ol operated the final salary with a 1160th accrual rate benefit structure and the defined contribution structure. The Trustees commissions an actuarial valuation of the Scheme every three years. The main purpose of the valuation is to detemiine the financial position of the Scheme in order to determine the level of future contributions required. in respect of eath benefit structure, so that the Scheme can meet its pension obligations as they fall due. The actuarial valuation assesses whether the Scheme's assets at the valuation date are likely to be sufficient to pay the pension benefits accrued by members as al the valuation date. Asset values are calculated by reference to market levels. Accrued pension benefits are valued by discounting expected future benefit payments using a discount rate calculated by reference to the expected future investment retums. During the accounting period ended 31 August 2021 Cheadle Hulme School paid employers contributions of 80/0 and 0.60/0 for lrfe cover in respect of the Defined Contribution Scheme. As al the balan￿ sheet dale there were no active members of the Defined Benefit Scheme employed by Cheadle Hulme School12020'. no active members). There were 10912020.. 107) members ofthe Defined Contribution Scheme. With effect from 1 November 2016 all members of the Independent School, Pension Scheme moved from the Defined Benefit section to the Defined Contribution section. It is not possible in the nomial course of events to identrfy on a consistent and reasonable basis the share of underlying assets and liabilities belonging to individual participating employers. This is because the Scheme is a multi- employer scheme where the Scheme assets are co-mingled for investment purposes and benefits are paid from the total Scheme assets. Accordingly, due to the nature of the Scheme, the accounting charge for the periLKI under FRS 102 represents the employer contribution payable. 54

CHEADLE HULME SCHOOL Report and Flnancial Statements- Year Ended 31 August 2021 The last fomial valuation of Ihe Scheme was perfomied as at 30 September 2017 by a professionally qualified actuary using the Projected Unit Method. The market value of the Scheme's assets al the valuation date was £149.4 million. The valuation revealed a shorlfall of assets compared with the value of liabilities of £38.2 million. equivalent to a past service funding level of 800/.. The contribution rates that apply from 1 September 2016 have been determined by reference to the Scheme's 30 September 2014 valuation and contribution rates from 1 September 2019 have been delemiined by reference to the Scheme's 30 September 2017 valuation. If an actuarial valuation reveals a shortfall of assets ￿rnpared to liabilities the Trustee must prepare a recovery plan setting out the steps to be taken to make up the shortfall. Following consideration of the results of the Scheme's 2017 actuarial valuation it was agreed that the shortfall of £38.2 million would be dealt with by the payment of deficit contributions of £2.387 million per annum from 1 September 2019 to 30 April 2030. Employers that participate in the Scheme on a non-contributory basis pay a joint contribution rate (i.e. a combined employer and employee rate). Ernployers that have closed the Scheme to ne4V entrants are required to pay an additional employer contribution loading of 302 /0 (prior to 1 September 2016) to reflect the higher costs of a closed arrangement. From 1 September 2016. the additional employer contribution loading will be1.6%. A small number of employers are required to contribute at a different rate to reflect the amortisalion of a surplus or deficit on the transferof assets and past se￿1￿ liabilities from another pension scheme into The Independent Schools. Pension Scheme. New employers joining the ScheTne pay contributions at the joint future Servi￿ contribution rate. This rale is reviewed at each valuation and applies until the second valuation after the date of joining the Scheme. at which point the standard employer (x)ntribution rale is payable. New employers also pay an additional age loading rf the average age of their members is higher than the average age of the Scheme membership. This bading applies from the date the employerjoins the Scheme to the date of the second actuarial valuation of the Scheme following the date of joining, or such earlier date as agreed between The Independenl Schools, Pension Scheme Pensions Committee and the SchemeActuary. If the valuation assumptions are bome out in practice this pattem of contributions should be sufficient to eliminate the past service deficit, on an ongoing funding basis. by 31 August 2029. A copy of the recovery plan, setting out the level of deficit conlribulions payable and the period for which they will be payable, must be sent to The Pensions Regulator. The Regulator has the power under Part 3 ofthe PensionsAct 2004 to issue schemefunding directions where it believes that the actuarial valuation assumptions and l or recovery plan are inappropriate. For example the Regulator could require that the Trustee strengthens the actuarial assumptions (which would increase the scheme liabililies and hen￿ impact on the recovery plan) or impose a schedule of contributions on the Scheme (which V￿UkI effectively amend the terms of the recovery plan). Following a change in legislation in September 2005 there is a potential debt on the employerthat ould be levied by the Trustee of the Stheme. The debt is due in the event of the employer ceasing to participate in the Scheme or the Scheme winding up. 55

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontinued ... 22 PENSIONS (¢ontinued) The debt for the Scheme as a whole is calculated by comparing the liabilities for the Scheme (calculaled on a buy-out basis i.e. the cost of securing benefits by purchasing annuity policies from an insurer, plus an allowanrE for expenses) with the assets of the Scheme. If the liabilities exceed assets there is a buy-out debt. The leaving employer's share of the buy-out debt is the proporlion of the Scheme's liability attributable to employment with the leaving employer compared lo the total amount of the Scheme's liabililies (relating to employment with all the currently participating employers}. The leaving employerfs debt therefore includes a share of any 'orphan' liabilities in respect of previously participating employers. The amount of the debt therefore depends on many factors including total Scheme liabilities, Scheme investment performance. the liabilities in respect of urrent and former employees of the employer. financial conditions at the time of the cessation event and th8 Insuran￿ buywout market. The amounts of debt can therefore be volatile over time. The Growth Plan Cheadle Hulme School also participates in The Growth Plan which is a multi-employer scheme. A full actuarial valuation for the scheme was carried out at 30 September 2017. This valuation showed assets of £794.9m, liabilities of£926.4m and a deficit of £131.5m. It has been agreed that this would be dealt with by the payment of deficit contributions of £11.243m per annum from 1 April 2019 to 31 January 2025. 23. RELATED PARTY TRANSACTIONS Included within creditors within one year is an amount of £29.660 (2020.. £51,030) held by Cheadle Hulme School on behalf of Cheadle Hulme School 150" Anniversary Bursary Trust. Mr P Driver and Dr D N Riley are trustees of Cheadle Hulme School 150 Anniversary Trust. During the year, Cheadle Hulme School 150 Anniversary Trust granted bursary money lo Cheadle Hulme School amounting to £150,000 (2020= £100.000). A number of directors at the School have chikjren enrolled at the sthool during the year. The children attend the school on the same te￿S as the other pupils. 56

CHEADLE HULME SCHOOL Report and Financial Staternenls- Year Ended 31 August 2021 24. OPERATING LEASE COMMITMENTS At 31 August 2021 the School had annual ￿mMI￿￿entS under nOn-Can￿lIable operating issues: Land and bulldlngs 2021 £'ooo 2020 £'ooo Operaling leases which expire: Within one year Within two to five years 61 60 121 57

CHEADLE HULME SCHOOL Report and Financial Statements- Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS Icontinued ... 25. PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted Funds Restricted Funds Total 2020 Note INCOME Income from: Donations and legacies £'ooo £'ooo £'ooo 189 115 304 Investments 14 14 Ancillary trading In￿Me Charitable activities 1,012 1,012 15,301 15,301 Tolal Income 16.516 115 16,631 EXPENDITURE Charitable activities 15.382 35 15,417 Total Expenditure 15,382 35 15,417 Net School Income for the year before transfers 1,134 80 1,214 Transfers between funds 19 Net movement in funds 1,134 80 1,214 Total funds brought forward 14,985 65 15.050 Total funds carried forward 21 16.119 145 16.264 58