2021-08-31-accounts

TAUNTON SCHOOL TAUNTON SCHOOL EDUCATIONAL CHARITY REPORT OF THE CHARITY TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 T•unknn Sthool EthKional Chrltylsa Lknknl h7 GuaThTrtee #eBbtratlM Number4(rfJ5UIH

TAuKfoN SCHOOL EDUCATIONAL CHARrtY ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021 CONTEiirs P4e Govemors, Offrcers and Advisers Annual Report of the Governws Dlrectors, Report Strategk Report IndependentAudltorfs Report 21 Consolldated StatementoFFSnandal Artlyiiles 24 Consolldated and School BalarKe Sheets 25 Consolldated Cash Flowstatement 26 Notes to the Financhal Statements 27

TAUNTON SCHOOL EDUCATIONAL CHARfTY ANNUAL REPORT FOR THE YEAR ENDED 31 AUGvsf 2021 GOVERNORS, OFFICERS AND ADVISERS Charlty Detalls Taunton School Educational Charity is a Company Limited by Guarantee with Company Reglstratlon Number 4C(J5803 and Charity Registration Number 1081420. Registered Offlce and Principal Address: aervs Office Taunton School Staple8rove Road Taunton Somerset TA2 6AD Telephone: Emall: Website: 01823 703128 Nicola.ffliller un auntonsthool.co.uk Governors The Governors and Officers of the Charity who held office for all or part of the year are shown on Pages 4 and 5 of thls rep)rt. Professlonal Ad¥lsers Banker: HSBC Bank PIC 17 North StreeL Taunton. Somerset TAI INA Solicitor: Veale Wa5brough Wizards Orthard Court. Orthard Lane. Bristol BSI 5WS Independent Audltor Crowe UK 4 Floor. St James House, St James. Square. Cheltenham GL50 3RP Insurance Broker: Marsh Capital House, 1-5 Perrymount Road. Haywards Heath. West Sussex RH16 3SY

TAUNTON SCHOOL EDUCATIONAL CHARttY ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2021 DIREcfoRY REPORT The Board of Govemors lthe 'Boardl, who are the Directors and Trustees of Taunton School Educatlonal Charlty (the 'CharltVI. present their annual report for the year ended 31 August 2021. It Is In the format prescribed by the Charities Act 2011 and the Companies Act 2006. CONSTrruTION AND OBJECTS Taunton School was founded in 1847. It ￿ constituted as a c¢ynpany limlted by guarantee re8lStered in England. No. 41x15803. It is also registered as a Charity with the Charity Comrni5sion under CharFty No. 1081420. The khool Is governed by rts Memorandum of Association and Art￿leS ol Associatlon that were updated and amended on 11 Marth 2016. These were updated in December 2020 to allow for onllne meetlngs. The objects of the Charlty are tro promote andpmvidefvr the advancement of educotlon by theprovlsion off o school or such other means os the Governots shtsllfrom time to time detemyine.. In carying out these objects, the Charity upholds the foundlng prindples of the School which are rooted in the Christian faith. It recognises the particular emphasis of rts 'Free Church. foundation on the importance of personal responsibllity in the quest for faith. and in respect of religious tradtdons. Significantly. in furthering these Objects forthe public benefft. the Charlty provtdes Taunton SchcM)I for boy5 and girls in five parts; the Senior School (known as Taunton Schooll, Prep School. Pre-Prep and Nursery, Taunton School International and Taunton School Intematlonal Mlddle School. This Spans an age range from Infants to 18. The School administers assisted Pla￿ {bursariesl. grants. awards and other benefactlons such as scholarships and acts as the trustee and manager of property, endowmerrts, bequests and gifts glven or established in pursuance of its objects. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Body The Articles of As50Ciation sets the maximum number on the Board at 17, of which one Is appointed by the Churches Advisory Panel. The remaining govemors are appointed by an ordinary resolution of the Members, passed at an AGM of the Chartty. Henry Keeling served as Chairman of the Board throughout the year. The Governors are the company directors and trustees ofthe Charity. and those who have been in office for all or part of the year are listed alphabetically ￿ surname below.. Mr Henry Keeling, Chalrman Mr Robert Aldrich Mr Chrirtopher Buttets Mr Philip Cooper Mrs Ruth Frett lelected June 20211 Brlgadler (Retired) Mark Hallas Mrfim Hayden Mr Davld Hebdltch Dr lan Kelham Mr ￿Chard Kennedy. Treasurer

Reverend Nigel Manges Rear Admiral lan Moncrieff Mr Keith Moore Mrs Hilary Quantick Mrs Elaine Waymouth. Depirty Chalrnun Mrs Sheila Wheeler Offlcers The principal executive officers of the Charity for all or part of the year were: Head of Senlorschool and Chief Executive Officer Chief Operating Officer Clerk to the Governors Taunton Preparatory Sthol Head Taunton School Intematlonal Prlncipal Mr L C Glaser Mrs N M Miller Mrs N M Mlller MrA Edwards MrA Hallworth Membership The ¢harlty has an unllmited number of member5. Member5 are forniergovernors and pupils ofthe School. over the age of 18. G¢)vernor Recrultment & Tralnlng Board vacancles are cornsldered by the Nomlnatlons Committee. which then makes recommendations to the full Board. All prospertive candidate5 are considered in light of the skills/experience balance requlred at the time which will include eligibility, diversity. personal cornpeten￿. specialist skllls and local availability. New governors are appointed fora temi of 3 yearsand. sublertto periodic perfomiance review, maybe reolected for a further4 term5. All Governors will be fomially appointed by the Members at the AGM. New Governors inductlon Into the worklngs of the Schoo15 indude5 the policies and procedures of the Board through briefings by the Chalnnan. Head and aerk and through comprehensive documentation. They also attend specialist external courses on such matters as the role and responsibilities of Charity Trustees. Governors attend on-going training run lry organisations suth as the Assouatk)n of Governing Bodies of Independent Schools IAGBISI. to stsy abreast of current issues and regulations in the Independent Sertor. All Governors are subjett to DBS checks and associated 'SafegUardIn￿ training. Governors wlll be asked to review the updated charityGoveMan￿ Code this year and new govemors wlll recelve the code itself as part of their Inductlon pack. Or8anlsallonal man4ement As the Charity Trustees, Board members, are legally responsible for the overall management and control of the School and promotion of its long tem) success. The Board meets at least 3 time5 a year. The work of Implementing its policles and specific key elements 15 overseen by Committees and Panels. most of whlch meet at least termly and report Into the Full Board ￿ follows: Ed￿atIonal Advlsory Panel Finan￿ and General Purposes Commlttee Marketin8 Panel Churche5 Advisory Panel Estates Panel Investment Panel Foundatlon Panel Nominations Panel Human Resources and Remuneration Panel

Debtors Panel Rlsk Management Panel Appeals Panel (convened as required) Other specialist worknng groups are set up as and when required. Taunton School comprlses 5 schools,. Taunton Sthool {daylboarding age 13-181. Taunton Prep School {day/boarding age 7-131, Taunton School Pre-Prep and Nursery (day age 1>7 years). Taurton School International (boarding age 14-16 years) and Taunton School Intematlonal Middle School (boarding age 7-14 years). The Head of the Seniorschool is the person appointed bythe GoverTr)rs as Chief Executive Officerto lead and manage the group of 5 schools. He is responsible to the Board for all artmties carried out by the School and is supported by the Chief Operatin8 Officer who is also the Clerk to the Go¥err￿r5, as well as the Taunton Prep School (TPSI and Taunton School Intemational Sthool (TSII Heads. All of these CEO 'Dlrect Reports, are appolnted by the governors and Ultimate￿ report to them through the CEO. Day-to-day running of the Schools is delegated tothe Senlor Polity Cornmittee. This group is drawn from the Key Management Personnel. The Heads and COO attend all of the meetings of the Board and most of the meetlngs of the Committees and Panels above. Remuneration w)licy is set by the Board, wrth a policy objective of encouraging enhanced perforn)an￿ and of rewarding fairly and responsibly individual contribution5 to the Schooys succes& Approval of this is a matter reserved solely to the Board. The appropriatenes5 and relewance of the remuneration policy is reviewed annually. Including reference to comparisons with other independent schools and wider benchmarking. This 15 to ensure that the School remalns sensltlve to the broader issues of pay and emplwent conditions elsewhere. Group Structure The School has 2 wholly owned non-tharrtable subsidiaries, Taunton School Enterprises Llmited ITSEI Icompany number 028463351 and Taunton School Tru5tee5 Limited {comparry number 067069521. The prlnclpal activlty of TSE Is the tradlng actlvlty of the Sthool whose annual profits are donated to the School under the Gift Scheme. The principal actmty of Taunton Sthool Trustees Limited is that of corporate Trustee of the School's defined benefft pension 5theme for support Staff, which dosed to new entrants in 2021 and to further accrual in 2010. Employment Pollry The School Is an equal opportunities employer, committed to SUPPOrting and prorrwrting a culture of equality. diversity and inclusion in all its prartices. We recognise that providing equality of opportunity, valulng dwersity and promoting a culture of Inclusion are vital to our success through the breadth of skills and experience that underpin the success and career satisfactbon of our staff. We è¢fvertise all of our lob vacancies widety using an Applicant Trackin8 System IATSI. onllne social media sources, online national platforms. and various local sources. The School also ha5 a 'Refer a Friend. Policv which encourages 'word of mouth, recommendations for vacancies. Full and fair consideration Is 8lven to lob applications from all backgrounds and appropriate support and assistance is given to those who requlre it durin8 the application and selettion process. Equal opportunities dats is collected from all job applicants and recorded and monitored In order to understand the demogrdphic and tharacteristics of job applicants to the School. The School's worklorce Is dlverse and b present￿ 61% male, 39% female. and <1% non-binary. All Staff can access and benefit from a range of family friendty FK)liaes and access to flexible working prattices. The Schoc+l adheres strlth to safer recruitment guidelines and its Recruitment and Selertlon Policy is built around this. Every recrultment panel has to have at least I safer recruitment trained staff member. All

recrultln8 managers are safer rttruttmert trained and the School ensures that this is refreshed every 3 years. In addition. they can access up to date online resources with regards to recruTtment and selection practice5. Appropriate preemployment chec*s are undertaken for all new staff and a comprehensive SlnBle Central Reglster Is malntslned by the HR department. All new staff go through an inductlon process that includes child protection, safeguardin& equality. diversity and induslon, dignity at worl data protection. and health & safety updates. as well as an introductbn to. and Lwerview of, the School. These are refreshed for exlstlng staff at appropriate intervals. To ensure that our staff have equal promotional opPOr￿nitIeS, everyone ha5 access to regular reviews and can p?rticipate in an appraisal process. The School encourages internal promotion as much as posslble. and all job vacancies are advertised Internal￿ as well as extemally. Day to day communlcatlon with employees takes place thrO￿h nomial management channels in a variety of forms and also through exceptional channels to appraise staff of specific issues. wrth regards to khool declslon making that is Ilkely to impact staff andlor their interests. consultatlon wlth them andlor their representatives is made at all levels through comprehensr¥e channels. The School holds the Investors in People Gold kneditation; most recently reaffirnied in 2019. Publlc 8enefrt The Board confirm5 that they have complied with their duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Cornmis5ion for England and Wales. How our actlvllles dell¥er public benefft The Board has considered the Charity Commtsslon's current guidance on public benefit carefully. They try to ensure that theschool's charltable objects are carried out forthe public benefft by maklngsurethatwherever posslble. education Is available to all who can draw most value from It. This ts done irrespective of financlal circumstances since our charftable artivities promote the wider education of children and access Is not restricted solely by the ability to pay fees. The Schoovs facilities are also made available as far as possible to other local schools and the wider community. The Board remalns committed to proNryding public benefft which is in itself. Sn accordance wlth the School's foundlng prlnciples. To this end the School cooperates with local charities and edutatlonal bodies in an ongoin8 endeavour to widen public access to the khcK)l. It a150 seeks to optimise the Ltse of the Schoovs cultural and sporting facilities and to awaken In the Schoovs own pupils an av￿renesS of the social context of the all-round education they receive at the School. A detsiled summary of this yearf5 actiiryties for the wider public benefit on the publicty dlscoverable Schoob Together webslte www.schoolst ether.0 and is included in the strategic report below. htt Grant maklng pollcy Opportunity to benefft from the Sthooys Grnnts {asslsted place5 also sometirnes known as bursarlesl is subject to nelther geographical nor other restrictions such as the ability to pay fees. Accordlngly. no one is excluded from this opportunty. The Sthool's undertying and publlcly ststed purpose is to "Challenge. Nurture and Inspire" young people to succeed in and contribute to a global community. The Board takes the vlew that those pupils who attend the School and who receive financial support contribute to the School community in a variety of ways, and $0 the benefft is not purely to these pupils. but to the whole School ethos and Inclusivity and. in some cases. to the wider community. In the 12-month perlod to 31 August 2021. a totsl of £1.871.743 (2020.. £1.701,122} was spent on means- tested assisted placeslbursaries. Thls is the equivalent of 93 full Senior Sthool dayfees and 7.4% of gross fee

income. 292 pupils {2020.. 2581 receNed a551Stance with school fee5, including I for full fee5. In the current academic year12021120221, it is estimated that 237 pupils will receive assisted places bursaries totalling £1,656.381. The School's asslsted placeslbur5ary expenditure is sumrnarised below: 202 20201 29 20191 201811 25 201711 23 Asslsted PlacelBursary recipients 23 Value of awards Average value £1.656.38 £1.866.n £1.701.12 £1.638.08 £1.348.71 £6, 33.5 £639 31.8 £6.6 32. £6.5 33.5 £5,78 - % of Senior School day fee Taunton Sthool Foundatlon The Foundatlonls at the heart of the $d￿V5 ststed charitsble purpose above. its donatlon5 come from the School's alumnl, parents, staff and friends. The majority of donations are given to supporting means-tested assisted places, bursaries and the improvement of faalitie5 to the benefit of all students at Taunton School. In the 12-month period to 31 August 2021. voluntsry donations totalled £196.325. Last year a number of donations were also provided to help those struggling with the Impatt of COVItPl9. This included gifts of over £I0.c￿ from fonner pupilsto enablethe School to supplyfood boxesto Musgrove Park Hospital to support frontline NHS stsff. Over the course of the pandemic over 7.(KXI meal boxes were prepared by the School's In-house catering team and provided nutrrknous meals to the key workers at Somerseys largest acute hospital. In addition to this a gift of £75,OIXI wa5 given by a single donor and used to support COWD-19 addttional precautions. cleaning and testing costs in the School. The Schod dld not employ any external fundraisers during the year but did appoint a new Foundation Director who joined the School in September 2021. The School is not registered with the Fundralsing Regulator but is committed to '8ood fundraising practices,. The School is a member of the Institute of Development Professionals in Education IIDPEI and artivefy collaborates with professional bodies in the sertor. There are no Instances to report of the School failing to comply with fundraising standards and the School received no fomial complaints about its fundraising activity during the year. The School adhe￿S to the General Data Protection Regulation (GDPR) and only contacts those for whom our communication wlll be relevant and of interest. STRATEGIC REPORT OBJEcfivES AND AcnvmES Charltable Oblects The Objects of the School are In the Meorandum of Association dated 11 March 2016. Principally. To promote ondprovidefvr the odvoncement of educotion by the provision of 0 School orsuch othermeons as the Governors shallfrom time to tirne detemiine providedolways thot.. fJ. In admitting pupils to the School. the Govemors must exercise loll other thing5 being equal) o preference infovour ofsons ondduuglrters of members of the Free Churches,. ond b. Irj corrying out its objects, the Chority shall uphold the founding priKiple5 of the School which are r¢￿ted in the Christianfaith ondrecognise the particulor emphasi5 on its Free Churchfoundation and the importunce 0fpersonolrespon5i￿Ityin the questforfaith ondrespeLtforollreligious tn7ditions. To these ends the School..

Provides an education for boys ond girts aged O to 18 yeors whlch Is Internotionally recognlsed as odding academic value at everystoge." Provides subst¢7ntiolfinonua1sup￿rt towurd5fv remission,. Has o continuous progrnmme of mt7intenonce, Iwildinq and technology refvrblshment ond development,. Allows controlled acce55 by the publk to Its gmunds buildings andfaulities genemlly.. Holds o voriety of rel191t￿$ services on weekdays and on Sundoys in the Chapel.. Provides o wide rnnge ofsporting ondculturolfaalities monyof whlch ore ovulloble to chlldrenfrom otherlocolschools t7nd which are also made ovoiloble to members of the public where oppropriate.. Supports the wider community by'communityserwce. ond Otherartivit￿S.' t7nd Demonstrates sign￿eant publlc benefft through its academic and other artivities as descrlbed in paragrophs {iJ to (viij above. iii. vii. vlli. Aims and Tar8ets Withln these objects the Sthool aims to meets its publictystated purpose mentioned earlier. Tothis purpose the 5 schools operate as one school group and ensure that value is added at every stage of a pupll's education. This is achieved by provlding outstanding and innovative teaching and developln8 a culture which uses technology to drive forward teaching and leaming. Pupil and stsff well-being is central to all that we do and the School aims to encourage, train and develop confident. enthuslastic and well-rounded young people who are able to fonn meaningful relationships with other people and con￿derat￿n for others In an Internatlonal arena, irrespective of circumstance. The School has identified fts strate8Sc obleLtlves for the present and coming years in fornial consideration wlth the Board and its supporting Committees and Panels. both at regular meetings and in an annual Management Day. This Is supplemented by input from the managemenvs Senlor Pollcy Committee who review objectives in a systematic way. Current objectives indude". Further refinement of the schi￿rs digital strategy wtth a specific target of Improving online security. A supplementary task is to prepare for the Introductlon of i".1 dlgital devlces for teachers in September 2021: Maintalnln8 a secure finanual position and controlling costs: Rewewing the master plan for the estate and devek)ping a green heart at the tsntre of the School: Delivering a continuin8 programme of investment to modemi5e the estate: and Continuing to develop income generating artbvities which align with the Schoovs educatbnal ethos. COV11>19 Response The School switthed again to remote learning in January 2021 fora 7week perlod. Durfngthis time academic lessons and co-curricular activtties were delNered by teachers working from home using Microsoft Teams. Some 50 boarders and 150 children of key workers remained on site during this lockdown and they were supported throughout by anallary stsff. while teaching staff continued to deliver le550ns remotely from home. Most pupils returned to school for3 weeks of frdce-ts>face learning in March before the Easter recess. A small number of staff went on frjrlough during the lockdown. but slgnificantly less than during the first national lockdown due to the number of pupils on stte and the continuation of maintenance and other projects. Time and money VRS sperrt creating on site COVID-19 isolatlon facllities as well as preparing all teaching and other Spa￿ across the estste to be COVID-19 safe. This included the instsllatlon of screens. signage, hand sanitiser stations and ozonated water generating plants to facilitste the enhanced cleanlng response reglmes required in the pandemic The School continued to make use of its Samba 11 testing capabllity and thi5. combined with lateral thw test[￿ helped contain the onward transmission of COVltk19 throY￿lrt the community. Confirmed Infertions among both the staff and studerrt body ha¥* remalned relatively low durlng the year.

The Board are mlndfiA of the Elobal and national uncertainty created by the pandemic and in response they secured an additional £5m reNDlvin8 credit facilityto coveranyunfore5een eventualities. It Is pleaslng to note that the additional headroom created this faality has not been needed to date. The pandemic has highllghted the cyber securlty threats faced by the 5dw)ol and there is to be a s18nificant investment in techno108V UP8rades and continuous profeSSK)nal development to provlde a bulwark against thls rlsk. COVID-19 arKI the closure of the School site during 7 of the 10 weeks of the Sprlng Temi 2021 and for the whole of the Summer Temi 2020. led to significant losses in the Enterprise Company and had the followin8 financlal Impacts on the School: 19120 20ni Remote leamln8 discount {1.1￿) TSI & TSIMS Summer st1￿1 {3601 Events & Re￿dentIal5 loss {3851 Additlonal costs- Covid related {1091 Slte savln8s- UtllStles etc 465 Furf￿￿£h recdved {4501 {3501 {2201 {2171 102 11.0891 {9351 BroodenlngAccess The Chalrman and Board have a dear Intentto wlden access to the School for those who would benefit from Its educational offerlng by grantlng means tested financial sUPPOrt las5iSted places/bursariesl as described In our Grant Making Policy above. The Board's approach to achieving this is to increase the number of philanthropic donations and to create a legacy. They remain commttted to ensurfng that a first-class educatlon Is avallable to a range of pupils regardless of financial arcUMstan￿ and to ensure that the School continues to benefft from a broad and inclusive mix of children with different ￿Cial and economk backgrounds. Academic EX￿llenCe The School 15 non-5elertNe with a cornmitment to its publicfy stated purpose. Pupils are encouraged to develop theirfull potential. through a robust pastoral system and wrth a clear commitment to the investment and use of digital technology. Academic value added is key and pupils contlnue to be offered a wide variety of extra-currlcular and sportln8 OPPOrtunikne5. Pupll Recrultment The School contlnues to focus on attracting boarding and day puplls across all age groups at local. national and Internatlonal levels. This focus Is supported by a whole-s¢hool marketing team and a new website has been developed. Number5 are strong and enquiries are hi8her than nomal for next year. Estote Development and Capitol Works The new din5ng room was opened for use In September 2020 and 'ceremonialV by HRH The Prfncess Royal In November 2020 when she also took the Op￿rtUnIty to meet a wide cross section of staff and students and to see the work to promote STEM amongst girls in particular. The resultant additional space In the new dlning room and Its supportlng kltthen made COVID-19 pupll management an easier task than it would have been under previou5 arrangements. Now that the project is completed, the School is ff￿¥1ng to the next io

Stage in the Estates Development plan and a number of schemes are being developed induding a new 6th Fomi Centre, relocation of the library and the provision of EAL dassrooms. A new car pat* will be instslled on Falrwater Green as well as works to propeth landscape the area that forms Phase l of the "Green Heart of the School" and creates a pedestrian precinct at the centre of the school. The Estates Master Plan development also includes si8nificant improvements to the external amenity space of the Prep and Pre-Prep area of the campus. Other work this year has focused on staying abreast of planned maintenance and cytllcal cla￿rooM refurbishments and improvements. Major roof repairs and improvements to insulation have been made to the sports hall. Centenary Hall. Whittaker. Clark Centre and the CCF/Shop roof pitches. Roof repalrs and extemal decorations were also carried out on the Main School building. Additionallythe Installatlon of a new mezzanine floor has added over 60 sq m of new space in Marshall House. A comprehensive review of the Estate Condition Survey was commissioned (last done in 20141 and the outcomes will be part of an action plan in the 10-year planned maintenance pro8ramme. Elsewhere. work has continueil wlth Flre safety elements, sports faalty improvements, offi refurbishments, plant and otherservice asset repla￿Ments. C￿vC0verage has been reviewed and upgraded across the site and work is ongoing with security advisors to address further practlcal ways in which the security and safety ofthe estste can be improved. der use offocllitlesfor communityuse and mutuol benefft The Board is keen to ensure that the facilities are available for use by the wider community when not in use by the School. This use is offered on a commercial bas15 and any surplus made is reinvested back into the School to 5UPPOrt the Assisted Places programme. Such inltiatlve5 include the operation of a swim sd)ool for local children, a sports club which enables rnembers to make use of the frtnes5 Sulte and other 5POrt5 faclllties, events and hospitslity using the new dining room outside of sthool hours and other conferenc5ng facilities and residential lettings during the school holidays. RISK MANAGEMEllf Principal risks and uncertalntles The Headmaster and Chlef Operating Officer. under the oversight of the th￿rn)an of Govemors. are responsible for the identrfication and mana8ement of the risks faced ￿ the School. A formal review of the School's risk managementappetite and processe5 is made annually. The Board considerthe economlc Impact of COVID-19 and the uncertainty it has created for the independent se¢tor. to be the principal risk faced by the School. Other risk5 that may carry significant impact Indude BREXIT. the possibllity of VATon school fees and the likely removal of Buslness rates relief for independent schools. Pupil safeBuardlng as well as health, safety and security are an ever present significant area for risk management that are monitored astutely. The School has responded actively to issues ￿lating to Mentsl Health. Through Its internal management structures. the School has carried out a wide-ran8in8 review of the risks faclngthe organisation and continuesto drive these risks down to as low as is reasonably prartical. The Board has examlned the princlpal areas of the School's operations and other activitles and considered the major risks in each of those areas. Given its position as the current principal risk, this year there have been a series of extraordinary meetlngs held to Conslder the impacts of the pandemic. The Board has satisfied itself that the malor rlsks Identified have been mitigated to the lowest reasonably practical level based on our understandin& expertise and available resources. li

Key controls used by the Charity in the vthole area of Risk Management Include: well wbliclsed poliaes and procedures. as requlred by law for the safeguarding and protectlon of children. Including procedures for the vetting of staff, volunteers and contractors: a clear health and safety policy overseen by an attive committee: formal agendas for all Committees, Panels and Board of Governo￿ actfvttles: detailed tem15 of reference for all Committees and PaneEs: comprehensive strategic plannin& budgeting and management accountin& additional bank financing to cover any finanaal turbulence caused by COVID-19: fully documented roles and responsibilÉtles of the Governors. Head and TPS Head and other members of senior managemenL' fomial wrltten policles. processes and procedures that are subject to audlt: clear written delegation in authorisation and approval levels. STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES The Board is responslble for preparing the Annual Rewrt and the financial 5tsternents In accordance with applicable law and UK Generally Accepted Accountln8 Prartlce (UK GAAPI. Company Law requires financlal ststements to be prepared for each financial year. Under Company Law, the Board must only approve the financial ststements rf they are satlsfied that they give a true and fair view of the State of affairs of the Charity and the group and of the incomlng resources and the application of resource5. This includes the income and expenditure of the charitable Broup for that period. In preparingthe financlal ststements the Board is required to: select the most suitable xcounting poliaes and then app￿ them consistently; obser¥e the methods and principles in the Charities SORP: make judgments and accounting estimates that are reasonable and prudenL' state whether applicable UK Accounting Stsndards have been followed, subject to any material departures disdosed and explained in the financial statements: and prepare the financial statements on a going concern basis Unle￿ it Is inapproprlate to presume that the charitable company will continue in business. The Board is responsible for keeplng adequate accounting records that are suffldentto show and explain the Chariws transartions. disclose with reasonable accuracy at anytime the financial position of the Charity and enable the Board to ensure that the finandal statements comply with the Companies Act 2006 and the provlslons of the chari￿s constitution. The Board Is also responsible for safeguarding the assets of the Charity and the group and hence for tsklng reasonable steps for the prevention and detection of fraud and other Irregularitles. Insofrdr as each of the Governor5. a5 member5 of the PJard is aware. at the date of approval of thls report, there 15 no relevant audit infomiation linfomiation needed by the Charitys audrtor in connection with preparin8 the audit re[￿rtI of whith the Charitvs audftor is unaware. Each member of the Board has tsken all the Steps that he or she should have taken in orderto make himself or herself aware of the relevant audit information and to establish that the Charitls auditor Is aware of that infomiation. 12

ACHIEVEMENTS AND PERFORMANCE EDUCATION Stakeholder Eng4ement and Se&tlon 172 51atemert The Governors consider that they have fulfilled their duties in accordance with sectlon 172 of the U.K. Companies Att 2(LJ6 and have acted In a way in which is most likely to promote the long-term success of Taunton School for the benefft of its stskeholders as a whole in the followlng ways: Puwls Boarding and day puplls benefit from the Schoofs pastoral provision with stsff pladn8 as much importance on pupils. holistic personal development lrfelong friendships and camardderie as they do on exam results. Puplls are artivety encouraged to offer Comments and suggestions on the operation of the School through committees, houses or tutor meeting5, and thi5 pupil voice is considered actTvely in decisions made by the Senior Management Team and Governors. This pupil<entrlc fo¢JJs was especially sharp during the national lockdown and the subsequent move to remote learnin8 and recognised the signtficant challenges faced by pupils durlng thls perlod. Staff worked with individuals and groups of pupils to address any concerns and organised online ￿ents designed to maintsin ￿CIal interaction and pupil motivation. Children of key workers attended daity and SO boarders remalned on slte for the duration of the January 2021 lockdown. Stoff The School recognlses that the qualrbes. 5ki115 and comrnitment of its stsff plays a major role In the pupils, success. Weekly briefings keep staff infomied of school wide developments. and there are opportunities for staff consultation with Governor5 and management. iKlth formally and informally. Staff wellbeing is a key area of focus. and as wlth pupils. was monitored particularly closely duringthe pandemic. A good numberof teaching and support staff are trained as mental health first aiders. Parents The School recognises the many benefrts from open and trdnsparent engagement with parents and has a two-weekly roundup of news and events in its"Courier"magazine as well as regular social media posts and letters from the Heads highlighting aspects of School life. Regular parent surveys are condurted and parents have access to both the parent section of the websfte and the Parent Portsl which give5 detailed academlc and pastoral information which is specific to their own thild. Current and prospective parents can discover information and answers on a range of issue5 and identify relevant pointsof contartforfollow-up if required. Community The School is proud of its place and contributlon In the local community and works consciously to offer support and asSIstsn￿ wherever possible by sponsoring local sports clubs and in offering opportunltles for local schools and clubs to benefit from its academic and ￿UM¢Ular facilities. The Outreach programme works with local tharities and social organisatlons to Identify *7y5 in which the pupil body can best provlde 5UPPOrt and asslstance. During lockdown, staff and pupils created new ways in which they could supportthe local community via fundraisin& by offering accomm￿jati0￿ to local NHS worker5 and by providlng PPE and food parcels for NHS staff at Musgrove hospital. Academlc Report Tounton sch¢￿It0ndftues to offer three pathways of &xth Fomi stuty. A levels. Intematlonal Baccalaureate Diploma Programme and fyvo BTEC courses (Extended Diploma in Sw)rt and ExerC￿e Sciences and Diploma In Buslnessl. Our tlmetable allow5 Students to study a 'rnixed economv programme, borrowing elements from different pathways and student tracktng against baseline data and predicted grade5 goes from strength 13

to strength as part of our goal to add value to each and every student. Despits the challenges of teacher- assessed grades this year, external examination results saw 72% of all 8rades in the Sixth Form at the equivalent of A B IA levell. 5-7 IIB Hi8her Level) or Dlstinttion'_Di5tinction IBTEC Dlplomal. For GCSE, 53% of gradeswere 9-7, and the pass rate Igrades 941 was 100%. As a nori•selectwe school, extreme pride extends to all students. attalnments, not just those achi￿1￿8 top grades. The School careers advice offered to the students Is a particular strength. With a very diverse student body beswke guidance on course and country requlrements Is tallored and offered on an indibrydual basls. The maiortty of students achleve the grades that they need to tske up their place at theirfirst Choi￿ of University. Our academic programme extends beyond the classroom and students have enjoyed presentations. lertures. trips and various other stimulatln8 actlvltles whl¢h have enhanced their leamlng. Saturday moming scholats, tslks. open to everybody, are particular hithllght and often dlscuss challen8ln8 exlstentlal topics. as do Friday night debates for Senior students. Taunton School International offers British and Interna￿Onal students an intensive and comprehensive one- year and two-year GCSE/pre-IB programme. The School is a market leader in rts academic provision and achleved a pleasing 94% GCSE pass rate1941 in August 2021, with an outstanding 52% of the total grades at 9-7. Students are able to select from mre than 20 different subjects at GCSE level and are taught In tlas5es averaging 8 students per group. This allows students to focus on areas that are relevant to them and affords them the extensive teacher support that is required on such an intensNe academic programme. In September 2019. TSI Introduced a Pre-Foundation Year programme for Sixth-Fomi aged students and all the students on this programme achleved the nece55arygTadesto progre5S to the International Foundation Year. which started for the first time in september 2021. On this intensive one-year programme, students study four modules- Business Studies. Economics. Mathematics and EAP (Engllsh for Academlc Purposesl- and upon successful completion of the course have a guaranteed place in one of over 40 universitie5 in the UK and around the world. This year, all students on the IFY achieved places at theirfirst-choice universities. TSI has a spread of nationalities with 24 countries represented. approximately 5% of whom were first language Engllsh speakers. Taunton Sthool Inter ily￿1 Middle Sch¢￿1 provides International students between the age of 7 and 14 years with the appropriate and relevant e(iucation. cwrricular and pastoral support they need to enter Taunton Prep khool. Senior School or TSI, depending on their age and level of English. Those not entering another section of Taunton School are ideally equipped to go to another British independent school. Speclalistteachers offer an extensive curriculum which is closely linked to the currlcula at the Senior School, Prep khool and TSI In order to faulttate the transfer of students from one section of the School to another. Students are taught in Ma￿MuM dasssizesof Iotoenableeach studentto reach theirfull academlc potentlal in the minimum amount of time. ounton Pre School cortlnues to offer an excdlent fange of subjects and actiwties deIr￿red by staff who are passlonate aboirt teaching and leamlng. During 2021>21. the School worked on raising fvrther both the level of challenge for pupils in their academic work and the expeciations for all of our puplls in terms of independence. completion of excellent homeworl and their attitudes to leaming. The outcome is that pupils are fully prepared when they move on to the Senior School at the start of Year 9. The Year 8 Summer exams were all reviewed by the Senior and Prep School Heads of Department. ensuring that there is a'gold standard. exam at the end of the Prep School. whereby a top grade signifies a pupil who is perfomiing rl8ht at the top of National Prep School Stsndards. 20-21 was another year in whith pupi15 had to be taught remotely for part of the year, but the pupi15 parents and staff showed superb teamwork and ensured that the hlgh quality standards set by the School for education and care was maintained. The standardised test results in Maths just before Easter 2021 put the average Year 8 pupil in the top 18% in the countryi and the results also indicated that over half of the pupils are on track to obtsin a 7. 8 or 9 at GCSE. Compared wlth Y8 Maths scores over the prewous three years. the cohort of 2￿21 perfom)ed sli8htly better. and it was simllar Story in other subSects. and in other year groups. Thi5 is ewdence that excellence was maintalned In the School despite adapting to wothn8 under lockdown restrictions. The advances made during remote learnlng In uslng technology In teachlng and leamlng have been embedded into everyday school Ilfe now that pupils are back in school. The use of key digital platforms and other digital resources is enhancing teaching and learning in all subjects in all age groups. and all pupils in the Prep School are bringing into School 14

their own digital device for learning in line with our BYOD polici I'Bring Your Own Devi￿.1. The dlgltal strategy for the school continues to advance. with exuting developments due to take place during 21-22. Pre-Pre nd Nurse . We contlnue to revlew. devebp and evolve the current creative curriculum in Nursery 4, Reception, Year l and Year 2 and this will continue throughout 2022. We also continue the implementatio of new EYFS and the subsequent changes to our plannin& observatlon and recording on Evidence me - Development Matters. The change in the Earfy Years Foundation Stage has also resulted in a change to our EYFS Baseline testing providerand we are also implementing a change to the White Rose Math5 scheme from Reception to Year 2 along with an injection of additional Mathematics Manipulatives into Key Stage l. This thange had previously been woven Into Nursery 4 thro￿hOUt the previous academic year. Pastoral Care and Well-Be The School continues to enjoy a thrlvin8 Ix)ardin8community. 8oarding numbers are strong across all schools and pupils want to be fully invofved in school life. This helps with the integration between boarders and dav pupils. The on-80ing campus development has Created new Spaces for students whlch makes socialising easier. The recent changes in Cow[￿19 guidance has Improved things for the cornmunity by allowing us to move out of bubbles and frdQ masks.. the improvement in wellbeing can be seen in falling rates of serlous mental health cOn￿m5. We remain fortunate to have access to on site PCR testing facilities and thls continues to help us intervene effectively should there be any dose contact trdnsmlsslon. Pastoral arKI safeguardlng sUPPOrt cortFnues to build on the good practice which has been recognlsed nationally-the School wasshort I￿ted bythefimes Educational Supplement In 2018 forthe Wellbeingaward with on-going structural changes to ensure excellence in this area. The School's airn Is'bullding a culture of respecv. In so doing we hope to be able to effectivelytackle the national issues around racism, misogyny and sexual vIolen￿ and harassment in schools. The culture of student voice and S￿dent leadershlp, already embedded in the School, is vital and has already allowed the school to shape some initiatives which are already leadlng to change. We have a 'whole school. pathway from 0-18 which enables us to have greater Impact on younger year groups where this behaviour can start to form. We have also been pushing greater parental involvement use webinars to support this. last summer term the safeguarding team ran two such events which focused on the Schoofs response to the OFSTED review into sexual violence in schools. The health centre continues to be seen as 'best in das5. with the sister in charge ￿ntInuing to chalr the South-west Independent Schools Nurses Forum. The return to School, with reduced control measures. has seen an increase in COVID case5 but the School ha5 been able to support pupil welfare with the on-going access to and use of our own PCR testing faolities {in 2020 we invested in SAMBA-11 testlng tethnologyl on slte. In 2018 we invested heavily In mental health wlth all teachers completing the one day Youth Mentsl Health Flrst Award. Three years on we are planning the next tranche of tralning for staff who have joined in the last three years. Thisslts alongsidetrainingdelivered byourown mental health nurses around anxiety. ADHD. suicidal ideation. eating disorders and self-harni. Colurrkular Sport We were thrilled when khool Sport maga￿ne ranked u5 7th in the countryfor the sporting achievements of our pupils. Sport is an important part of the Schoovs culture for healih and wellbeing as well as perfonnance and participation. This year ha5 been challenging for all schools due to the pandemic but nevertheless a varied 5POrting programme was dellvered within government guidelines. Many of the National Tournaments and Cups were stopped so the emphasis was very much on local fvtures.

In the Autumn Temi 120201 only 26% of Independent 5th￿1$ were actively playing flxtures wlth many of them only returning to school fixtures after the first half temi In November. Because the summer temi was mlssed due to the lockdown the boys followed a sligh￿Y adapted Autumn Term plan and played with cricket In September, enablinB them to play competitively in a sport which had been missed in the summer and was relatively COVI￿Safe. They could simultaneously train for ru8ty to maintsin overall fitness. Rugby was playing an adapled version of the game. 'Ready for Rugw. as we moved through the phased return stages under the guidance of the RFU. Girls. Hockey and Football was largely unafferted in the first temi with fixtures throughout, although there were some repeatfLXtures against local schoolsto ensure a full schedule. The November restrictions provlded a compulsory stop In inter school r￿tUreS. but the School were able to put on a variety of inter-house sports competitions and fixtures in this time to continue with the Saturday Sport momentum. The Rugby teams split into a West Country League, with players mixing UP to represent Bristol. Exeter. Bath and Gloucester and the Hockey did similar with the Senior Playerfs tsking ownershlp of junlor teams and officiatingto gain some leadershlp experlences. Whilst National competitions did not occur. indNidual selection and representstion was still achieved by many students: Rugby- 26 students represented Exeter Chiefs and Bristol Bears Hockey - 9 Players at NAGS selection {trialling for England age group squads) and two players selected for England Ul8. Netball- 15 Players selerted for Somerset CountyAcademyi 6 players involved with Team Bath and two players trialled for England and Wales. Cricket - 17 players represented Somerset. 7 players represented Cornwall and 3 playe represented Wiltshire. U14 Regional Champions and National seml-finallsts In Davld Engllsh Cricket Cup and U141U15s were Countycupfinalists. Equestrian Team finished 5 at National Schools Equestrlan Assoclatlon competltlon at Bicton quallfying for the Championship Plate Competition. At the Hickstead National NSEA Championships - we placed 1° Team in 80cm Show Jumping (with a * and 3 best indNlduall and 2 In the 80cm Eventing Team. Athletlcs- 27 students represent the sthool at county Championshlps. and one pupll qualified for National khools Champ50nship5 for U20 javelin. Swlmming-Taunton School won 5 trophies Out of 6 In the Meade King Cup. Prep School sport saw COVID take avrdy the opportunlty to compete in rnany of the usual national competitions but thi5 did not stop Some of our pupils gaining honours at the highest level. In horse-ridlng. our 80cm sch(bol team finished second in the National Schools Championships for Arena Eventlng at Hickstead, and then won the show jumpln& In pistol shootln& our pupi15 finished 3rd in the National Championships, having qualified as South-west winners, and. in swimmin& of our pupils were ranked first in the country in the Swim England time trials during lockdown. At a reglonal level. our Cricketers were county finallsts for U12 kns. U13 trws and U13 girfs. and we had a total of 14 b)ys and girls in the premier Somerset squads for their age - our highest ever number. In tennis, both the boys and girls enjoyed terrific seasons wlth our boys unbeaten. and. in athletics. we had 18 gold medal winners in the South-west Prep Schools Championships. Great efforts were made to keep ourchlldren actNe during lockdown. and large numbers of staff volunteered to run very well attended sessions during the Easter Holidays. Muskand Drama mU￿C continues to thrive even thou8h many of the concerts were live streamed or recorded. The School contlnues to support and host the Two m￿r$ Music Competition and we held the normal annual concerts within the school programrne: the Con￿rt0 Competition, the Autumn Concert and the year finishing with a flourlsh with Music Festlval Week and a lovely outdoor concert. The Infornial weekly'teatime" concerts had over 90 stu(ients perform across the year with 17 ensembles offered In order to tomply wlth maximum 16

numbers set for ensemblesdue to COVID restrlctions. Perfomiln8 Arts Cafes and Sthool Concertstook place throughout the year and were livepstreamed where needed. In Drama, the Sixth Forniers put on a Christsnas Pantomine of -fjrbderf which was shown remotely. With lockdown In the Sprlng Tem7. getting in the way of preparntions for a large scale production, the summer term saw two smaller scale produrtions of The Tempesti performed by Year 9 and directed byyear 12 pupils. The Crucible was performed by the Sixth Form and was eXt￿Me￿well perfomied conslderingtwo of the cast were abroad and joining in rehearsals remotety until about three weeks before the production. Pupils in Years 4, 6 and 8 produced impre5swe filmed musicaLs. and children in all year groups Continued to enJoy excellent opportunttie5 suth as our own online drama fe5trwal. In dance. online showcases demonstrated the hEgh le4Eis of adilevement and, in balleL 25 thlldren took the Royal Academy of Dance exams. aubs andActivities Ort the wlder ccrturrlcular canvas, students made the most of excellent opportunities in Art, Design Technology* Cookerys and Computin8. Around 60 dubs ran each week. with many continuing online in the Sprlng lockdown. and the Saturday Moming Enrichment offer for pupils in Years 3 to 6 continued to be very popular with over half of pupils in those year groups thoosing to come into Sch(x)l on Saturday mornlng5. Debating has seen increased membershlp and forniality. The Friday eveni￿ 'Burke' debates are well attended and the motlons debated are both current and evocative as we educate the students on appropriate ways to show their student voice. This year has seen a more global outlook approach to the debate topics although the World Debating Champlonshlps was cancelled due to COVID-19. The Senlor and Junlor House Competitions were agaln fiercely contended by all of the participants. CCF The Com￿ned Cadet Force and Duke of Edinburgh scheme are key features of the School's co<urrl¢ular offering. All are well resourced with good take up from students. Field Day was run foryear 11 and 13 in the Autumn Term and we had 67 cadets attend a Field Trainlng Exerclse In the summer terrn. Thls was followed by A¢tSvity Week, which saw two days of CCF training followed by two days of adventurous training for all of Year 10, modified sIl8h￿¥ for COVID-19 restrictlons. Communlty Volunteeringtook a bit more of an indlvldual approach thls year. wlth maryof our usual places not ac￿ptIng vlsitors during the pandemic. Lots of students continued totake part in t￿th communty projerts (particularly aimed at supporting the community through the pandemic) and theirvolunteering for DofE amassing a total of 3.437 hours of volunteering across the year from students within the School. We continued to be able to 5UPPOrt outdoor communlty activities, like Stover Park, Cothelstone Hill and French Weir Park dearance groupsi as well as Wivey Pool. Global Outlook With over 40 dlfferent Natitinalbties in the School there Is Justrfiable pride in its global outlook and this wlll ontlnue to be deepened. Group Flnanees The prfncipal fvndin8 Sour￿ for the Charity are Sd￿01 fees and intome generated by many other educatlonal and non-educational artivities. The latter are carried out ty the Charivs trading company, Taunton School Enterprise5 Ltd (T5EI which. as described earller. passes all its profits to the School. The 17

yearfs expenditure has continued to support the (haritvs key objectNes by operating the School and Investing in bts development. The Group's flnances remaln relatively strong with net income of £21.2m {2020.' £20.9ml; and total expenditure of £21.3m12020: £21.7ml, the charrty incurred a small deficit £96.7k12020.. deficit £8(Klkl on operatlons but this was offset by pension and investment gal￿ of £lm. enabllng It to Increase Its totsl reserves to £17.9m12020- £17.Oml after making capitsl additions of £0.6m 12020: £3.3m} arbd repaying £1.3m12020: £0.3ml of bank loans in the period. The Charity continued to invest significantly in the site, with the malorlty of expenditure on a new dining hall which opened in September 2021. The forced closure of the School during the national lockdown and other assoaated COV1[￿19 restrlctlons had a negthe Impact on the surplus as explained on page 10. We have prepared a number of scenarios that consider our cash position, SoUr￿S of Income and planned expenditure. This indLsdes the impact of coronawrus on operations together with assumptw)ns around recovery thereafter. These scenar￿$ consider reduced pupil numbers. delayed fee payment, reduced fees and potentlal bad debts as well as impact on costs from the measures taken so far. Sensitivity around these assumptions has also been considered in our forecasting. Results of thi5 cash flow and sensltivity analysis Indicate thatthe cash resen￿5 of the Charity a￿ adequate to meetthe Chariws obligations as they fall due. Correspondin8ly. the trustee5 consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. TSE has rnade a loss of £24.¢￿ which is dirertly related to loss of Income generating artivitses caused by the pandemic. The School has supwrted TSE and expects It to return to normal tradin8 and profitabllity next year. Investment pollde4 objecdves and perfommnce The Investment Panel advises on the investments monittjrs the perf<Thance of funds on behalf of the School, the Foundation and the Evans-Lombe Fund. At the year end the total funds invested were £5.3m {2020: £4.5m). The Investment Panel rewrt5 tothe Board ofGovemors and theTru5tees ofthe Evans-Lombe Fund. having taken appropriate and professional advi￿. The Board and Trustees have set a target of 5% income and fund growth to sustain the value of the capital. The School also holds some restricted funds in recognlsed charitable investment fvnds wlth CCLA and some on deposit awattln8 Investfflent. The Board Is satlsfied with the return on these funds in the prevailing financial dimate. Ilesems level and polky The Board has examined the financial risks and challenges faced ￿ the Charity closely over the short and medlum term. The Charity has invested its reserves in the provision of the educational facilities to meet its objectlves and consequently. like many well*stsblished Independent schools, has negatNe free reserves. The Board 15 satisfied that the finanaal plans and forecasts give them comfort that the Charity Is able to meet all its foreseeable commitments. The School'stotal reserves of £17.9m atthe period end indude £2.Im endowment capital, £4.4m of unspent restrlcted income and £11.4m unrestricted incLyne. 18

SECR Energy Use and Carlxm Emlsslon5 Dlsd05ure Dell Comwter Corporation Educational Charity disdose our ener8V Use and greenhouse gas em155ions that Dell Computer Corporation are responsible for in line with the requirements of the Companies Act 2006 {Strate8ic and Directors, Reports) Re8ulation$ 2013 and latest 2018 regulations. 202(V21 kwh 202CF21 TC02e 2019-20 TC02e Change (%) 46% Electrfcity l Gas 1.715A21 364.24 676.15 i 5.541.255 1.014.94 917.45 11% Tran5PQrt Fuels Gross Annual Total 5(Ml.967 116.89 115.371 1.708.971 1% 7,7S7.643 1.496.06 -12% Intensity Metric (pupil numbers} Total TC02e/FwpiI 1.195 1.156 3% 1.25 -15% Qualifying Green Tartff5 Net Annual Totsl 7.757.643 1.496.06 1.708.97 -12% Table I: Primary SLitement for the Financial Year ending 31 August 2021. Baseline Year This is the second year of GHG reporti￿ the first year was the baseline year whlch fell during the COVID-19 pandemlc and as such comparisons to this and future years may be skewed. Taryets Carbon targets have not been developed for the current reporting period but are currently in development. Intenslty Measurement The intensity metric chosen is average pupil numbers11,075 pupils at school and 120 at nursery) as at the 31 August 2021. Th15 metric was chosen as the organisation's cart)on emissions are closely Ilnked to pupll activity. Carl)on Offset Taunton School have no oualtfying carbon offsets during this financial period and do not currently procure any qualifying green or renewable tariffs for the supply of electricity or gas. FUTURE PLANS The School's strate8Y is to malntain a stron8 finanaal position by delivering clear evidence of a consi5tentlv first-class educatlon matched with demonstrably outstanding pastoral support. To do this it is bulldlng a healthy recruitment pipeline, controllin8 Costs and using the facilities forthe public benefityearon year. This enerates suffident resources to Invest in the Schoofs infrastrutture. supporting the strate8y of building on existin8 resources and foundations and makin8 every pennycount directtytowards the School's purpose and its non-seSective basis. Accordinglyi the priorities for resource allocation agreed bythe Board are based on improvln8and enhancln8 the existin8 infrastrurture estate and the objectives are to: be an outstandin8 School of choice by evidence of Its educatk+nal and pastoral experience for all pupils,. contlnue a strong flnancial perfomiance to fully TEsource the operation of the sd￿01 and Its development and continuance of long tenn SUC￿55.. Increase and plough back Investment in malntenance and new facilities over the next three years; 19

always be compliant wlth le8Trslation and W prartice wherwer it may be identified to provide a safe, happy and wrposefvl education: invest in staff training and de￿￿1PMent to attfxt arnl retain the bem teachets. The School is reviewing its need5 and opwtunitie5to continueto develop its estate to mum55e advantage. As the srrategy Is rwlewed, mre pr*ts I￿11 be considered by the Board in due course. Thls Annual Report Is p￿Pared under the chant￿sAct 2011 and the Companies Act 2006 and was appn>ved by thè Board on December 2￿21 includin8 in their ¢apacÈty as Compa￿ ¢f1￿clor5 approving the Strategic Reporr ¢ootalned rwn. and Is slgned a$ authorfsed on its behaff by. r H CV Keelln# Chalrnian of Governors Dwts: 13 Lklarch 2022 20

Independent Auditor’s Report to the Members of Taunton School Educational Charity

Opinion

We have audited the financial statements of Taunton School Educational Charity (‘the charitable company’) and its subsidiaries (‘the group’) for the year ended 31 March 2022 which comprise the consolidated Statement of Financial Activities, the consolidated and charity Balance Sheet, the consolidated Cash Flow Statements 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 Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 August 2021 and of the group’s income and receipts of endowments and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (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 group in accordance with the ethical requirements that 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 responsibilities in accordance with these requirements. We believe that the audit evidence 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 trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's or the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information 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 information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to 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 misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit

• the information given in the trustees’ 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 strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material 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 to you if, in our opinion:

• adequate and proper accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees' remuneration 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’ responsibilities statement set out on page 12, 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 internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities 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 auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but 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 if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting 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 statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed 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 charity and group operates, focusing on those laws and regulations that have a direct effect on the determination 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 compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be with the completeness and accuracy of non-fee income, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Trustees about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, designing audit procedures over non-fee income, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance.

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 performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s 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.

Guy Biggin Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor

4[th] Floor, St James House St James Square Cheltenham GL50 3PR

Date: 7 April 2022

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TAuriroN SCHIXIi EDilfATIOIiALarARTTY NOTES TOTrE ANANaALSTATEMENT5 FOIITHE YEAREf4DEDJIAUWST211U LWISOFAccfAINTty4G The fina¢)dl $tsthmerts have been wep¥td ni ar¢orrf￿ with xcroJthi and liepth h Charitsu: ststeft￿￿t c+ Recornmended aPF4iuE4e to tharibes prewry their acccfthnre wilh thE Fhi1￿ ReF￿waeSa%a¥11v•Wl¥)w7td ￿￿11￿e{Wi￿rErtTrJ. LW8031 on l June 2L4))and hasnDshareCa￿trL TheS¢ho¢1ts41w r￿$t￿ed￿￿￿e(h4rkyth￿th n￿1(￿11201. The re81stwedand ￿n￿al ulficeLrfthe 5ttffjd15TaUm￿￿T￿5Xnw￿TA2￿1D. The Sthool depend5 on Its bank to meet Its day to wiial roqthrements. CurFÈnt lorecasts Indl(4te that thE 5chro1 expÈLts to ￿ a14È tr> Iprate within thest fatiths the thE fvrEseuble frAur& ThEse f•aMiES are rened annualty and aro not tho renewalofthttefadkn ThWbl• FkndAss4ts ThèmalorityofthÈ ChaitysiaTrJ inT4wrtvn k1vJTrwL•rolwKtedfw￿. thE gswates a fvMI¥ rfrn•nIena￿th1tI￿th work off (n the 5tateMertofFknanc￿IActrAlkS ITr the PEiicd ￿ffl￿rned. Land tsnotdepreciatrd. mI￿r kems olexpendtwe and assets(￿£1J￿arÈ{I￿EeI. To the eAkntth•tryluth51wrwrt wryk ￿ rwfj1￿red to and thus adda comTh￿￿ra￿v0￿ttythe WMlir&syth ibor4￿ltsedand•￿￿•￿1t¢d asapwowe. TheThte$ddepr￿ati0n athi2d are￿I￿k￿' Ildrqs. Improv￿￿1$ and exiernkns FUrni￿reand equlpmeni 5.50 pars 3-25ys Flxed Asset In¥estrnents arestated atmarket¥a. knLtthefrLYn FtAÈdA%s@I Irfyesiwis * the relaied lax IntheStatemEntof FiTran¢i￿ the ￿¢d fowthlth thvrfft1l￿W1fftth￿ rnathetwbxofim5tm￿dfferStrOrnthe hBtoriccos( thedtfferenco Lsrew¢ni%ed an unrea115ed 8aIn￿ossIfi thE 5taterneni of ACO¥lO￿ Where the Nttbment has been tNs Is reLo8nls•l •$ • re•lL￿ ThE In¥stmtntln the&sldrdry Isheh1 #t)3st

NOTESTOTHE NNAFKIALsfATEMEN15 FOR THEVEAR ENDED aiAUGWTX stoc ha5been ¥a￿ed atthe kJWeralc05tornetrthrnaket￿￿ Voluntsryinco¥ningtssourre5 Eèrcountedfr¢a5 entilkn￿tJr￿ be rehlwywan￿r￿d and theettfflorracbendLtt¢the char￿ Is con51dered probab￿.v(4￿tsry Irxome theCh¥Ws Fuposestsac¢Mied fuasurrfèstrkted. ltherethodLthortyan WEal ha5 moreth4n fftt05t ¢•wry In the WA tv Ihem the esDmated to eath artth In thewr. ￿ther frefereKeto stsff time orthevsemadeoftheunderfvm8asS￿ ￿ap￿￿{te. 1￿￿r￿￿￿vATts Inch￿44th thertem ofexFondlturetswlN¢h and1155ub5hlrdryave ￿￿1¢dfrOthtthtrI inLXWDE￿ewth1￿￿ In(&￿4s5¢￿1￿￿￿Ia a&lceandthaudh(ost Sts in rtspe¢t•FDpwai•y4sesaYe¢hwd in lfrsi•nioffwwi•l4kl14rylL￿ •Strwhtlme kni5V•vthetenn oflhelease. A>gets held und# ￿a5&S thÈ rdaiod the tsif Yr•l vf the Ipased asts #t the IrKepUon of the lease. DeprEcialion leased Ists 15 ￿￿￿ted tD wvile (Irth￿l￿aUntCffj •5bayhl line verthe S￿)rter lease terrn andthe useful Itfe ofthe as￿. Renta15 pay4e are appjrdoned the ftnarKe thar8e aTrd a ol the xKoandiw fty fvILwe aThK￿nts payiwe $0 that the The 5th￿ L%wmptfw tax•) 1ft¢ty￿ setlAyi YJ5dthtT•AesAcl 1988tysection 252 LthEya¥￿Dftha￿eab￿Ga1n5 11992 to theettentthatthese areaFvHedto t￿{h￿able(&￿C The Teathers, Pens6Dn 5themE 5thEm& It 15 not to the 5d￿CS share of the uTrJerfv 4ssÈts and bilils oFtheTeachers' Pensbjn S(heffteLm è tLY&tstÈntar￿ Ivdsor￿b1O bAand as r4uKEd FR5102. a¢ti)unts lorthe 5thEme a5 ff it tharyed In the period in thi<h the 54ariestoYhthiththtyrelateare ￿yat4e. The charity Wntribjtesto the TiustGrDwth cert gr rts Thi5 15 ￿ m05t Te5Ferts a pur¢ha5e arran8emenL but Jes not knchjde certaln guaraiteed benefft Tho 5ththmè as bt 14 fiot thè Kjrmal ttyJf ￿ vrfents to 1entrfV￿ sh•rerfynd1iin8a$sets￿knl￿thttlWVIM￿lp•￿w￿I¢Th￿ xtordith. kn4r<#fttsnte ￿lh FRS 101 i%•ccourted lor asa definEd wntthuthnSd￿rnewith Contr￿1￿1¥1￿0￿Ied ￿tl￿become payille. TheT8unton Sth(￿ Fknal Sakry PerL%K)A sctr￿ btntfitsthtmE. ThtthfA4 bweFrtFthsiDn $the￿a￿TentS￿￿cE ro#sare tharled to the Statemert of Findal ithin 5t4ff (Osts. The expthd rEts¥n on the thEme a55ets IE5s th? Intwe5t ￿$ts are uedfted wEthln other interest. The scherne atharial gain5 and h)sses ¥e recryntsed wnrnafjknty as other reu%￿Sed lalns and The defintd benÈfr¢ stherne ssets are me4￿￿ 4tf¥lrv•l at the 04arKe She dalE. The I1￿¥be5 •r2 m&15urod on ￿ aCbj￿￿} ba￿$ •tthe Bolancesheet date the projected uriimethod and disc+y￿ed at a rattequ￿￿tO the uJrrertAteofreDJn C￿ a W wauty LWPWaLe ofeWniiwTh to t Stheme. TheerryWs<ontrilwJtsn iseiltier8%cf 1&4B Credltorsand pr￿￿￿OnS are rttwtsod¥JhRreth•(harftyha5 a wqs•rt¢aikni fvun a palle4rtthat￿ resukknthetrwsfer hthds t• a thrd party and the armunt dL b) sth the Ian be mt4gml 4X Crtthrs are Thjnn￿ recolnlsed at ￿￿rSe￿￿errt1rrl)wrt4fteroIOw￿1c( arrydNc¢Mtsth

NOTES TOTHE RtIAPKIALsfATEMEFlfS FUR THEYEAR EIIDED31AUGU5TIL41 pital expEnditLVe c0rrtrnC￿frff bYthe￿e￿d.fOr￿Tr￿h￿DSlI￿e3(¢ y•)d5 Isdsdosedbywayola not¢ tvjtntymi5￿n made In the finandal 5tatementsfrf AKh amourtL Fund5 spetlfk purpose and rmlthOn ¢O#S tx¢uf wherE Ib$￿￿ ￿¢$1Y Kcrojntrd fDr acuu ba5t5 the ojmmiiment ternlnatea pD5ton their¢JundsofreOJnthrKYha5be￿ m a￿£ ffn•ndal Instyuments arè inrf¥ly It thequth ￿￿5￿red at afflortw vthh the exe[￿ of InVestM￿ts whith are hekl at fair vibx a5￿ts hdd at arntyli￿ ctyt aryfi5e cash at bank and hafvj. t<ythv wfth trade and other debtor5. A spotifit prrMon is math for debts )r 7Athith Is in Cath ai bk •d In hand is defined a5 c45h held li Sn5tant access bank attounts ￿d wed a5 wothni Iva￿.￿be5 hdd at aThKftMd c05t COrnW5e al C{ethtc￿ excel4 sodal se£wSty and othtr tsxes •Trd 4TsfjoThs. Assetsand Ilabilitiesheklth f￿e￿n CU￿a￿tr￿aledtO￿P3lth0 bal￿sh￿td1Lt atan eK¢hinBe rate. Preplrntlon of the flnandal stsiemonts T￿￿S man4rnt to aid ts11¥otr£. The Ih tl flNnthl 5taternents The annual amDrttsthn de￿￿￿111￿n see noth$ 7 ￿ 8 fty the amount cf the aswand n0tr2 Iwth•￿fid11￿5￿whd1SSLtaS¥Q￿ AM￿￿￿1t•[1¢trt￿s The Scknol rnak4s an tsdm d th• roLty4rable tradÈ arK1 deIrt￿ VI1￿ •ssts tyde and other debtors. management c[m￿dE￿f￿lorSi￿vdInKfhe cwefjtcredrf¢rati¥ofthedEirtQT. trarnprofAeoldebtcr5 and e￿erien￿. Se*Ntste li fur

SCHQOLFEES Gross Fee5 Les5'. Totsl Bur541ie5. 6rJThts•nd ￿trY￿anCeS 24917A 24,605.6 16806.4) 336.3 14135.5 14959.4 SUBSIiNARY T4w)tar Schod was afvj W$ as • ¢thwry tharè5 IRp5tEred TrD. 028463351 and Is IDJ% cwned by the ¢hJrbty. The 5Lthidiary was lurmed to 5￿pr￿ the 5thwls th0rttab￿ akn5 through of fts facI￿e5 when not ￿9￿re1 for educarlo￿￿ purposes. It donate5 Its to tho Sdwd by GfftAd. Tr* •dthess ￿ its Lg T¥￿1￿1 S￿￿. Stspkn Ro Ta￿t0￿. Srynerse¢ TA26AD. Turntyer C05tof ￿leS Gr05sIL055JlPfofft A&￿￿n￿tra￿¢ffj Eywae5 Taunton Sthod EducatknalChWMarApMrt Fle Gfft toTaunMnScknol Ed￿3¥￿al Charity IL05sIProfftcnOrdmary•Aknt￿alterTI￿1l 568.0 IYS.7 22.3 1619.5 1&51

IIIThSTOTNE HIIANaALSTATEMENTS FOR THEVEAR ENDED JIAUGUWIIIII SuBSaXARYicoNnNI￿j l￿d￿ded In turnL1￿ ￿ E540k12DIO'. £47th> d kntu¢￿￿oT￿sths SthoL4. th tosis ￿$5 •knlrt1si￿M expen3e5 ¥e £244k and £3k P020.. £165k aTrJ £ai pabj 10 gtrrtd. 11•Th5KIMm worE •• con50lidathn. At the en4 £73k (2020.. QWEdto£14klvi¥s frw thpwbsklwy. s. orHERINCO Entran￿and reEi5rrati￿ fees 4rchar8eS towpns Courses and Sub.ieLllr Ssl 347 66 572.7 91&0 Otherlnoxne 8919 897.0 Taunts￿ scho￿ L¥thd(1•kn41 5wknschool 5thoc4 shop F￿S In IfjAU 6&2 133.4 272.2 317AS 72 587.5 Othwthterea retefftd 231.5 Intere￿ p¥y•E4e Fund.ra1sin8forb￿￿ta￿1¢wj1tes Totalfor 117A) 02 1172 31.7 1172 Tradlng •xporGo5 T•Mll•r Grwp J79A 23&2 349.0 T￿chIng Wdfa 742 Iq477.7 1395.0 4.W4.3 4123.2 ZIIILXI.2 336.5 2L336.7 1341.6 I￿81 swp)rt￿%￿olXhC4imry1￿d1U*￿rnan￿￿￿S 20,50L7 lknnts and Awwd5 T¢knl L5 20.7W.6 Tolal expoThliuv•. Ch L5 10.897A 21,457.4 T•tsl•x￿nd[Wrn. Sr 52SI.O 21276.9 216BS6

TAufffl>N S(HOoLEDUc4￿0T1￿LcHARFry NOTESTOTHE H14AFICIAL5fAIEMEPlfS FOXThtYEAR ENDED JIA￿u$r1021 & AI•ALYSlStr txptNtfftlA¢IC¢NTty 5fAFFcosrs.' Wa4es andsalarfe5 J2.LW.I laa3.7 1.$50.8 14.682.6 LtyJZ.4 551.6 Teathlnlstsff pwtST4ff 257 567 £60.tX)1. £70mO £7Q(Xn. £80,C¢JO É8orin- £g0,coo £9q￿l- £1￿.0 £itsi,(A)i. £iio,( £171.rm. £180,0 N>). U90.( C¢ntrib4rtk)ns to the Tea¢hers' PenYm Sdme mJe frx 12020.. 51x1 W wd ernF47ff￿ PensiDn conthtsuti0r￿ in re5pett of th employee5 were £62.5(K)12020'. E8fj.1221. In wjthon. thE5dJd mad2 to a defkned wnb1bJlkn sihome lor e¥ht12020.. ftrArl14iPr pahl ernF40yeesof£63￿￿1ZOTr.£lQ.396l. Thecharty trusteeswereK4 pakj or recel¥Éd artyflv bendts fruTb iththÈ Tnts¢ gthtrJl•ry in the￿Irl2010.. £nNI. the t Expen￿ totallin8 £1.3k txerÈ ( pawl ity thivj wwKliturE gjth a5 tra￿ and sUbsthn￿ IOT all of the tr￿5(2010.. Thelotal emp￿￿l￿￿o1thEke¥ffl￿w￿Tht[￿5￿ltXre£67l￿k[￿j10.. E743.Z&I. Netth¢m b$14t￿ •fttharyknr. 1rter•rtp￿ a￿[loaDS S17X+ Hireofvehidts Hlreof iherassets 33L¢ 6&3 29&3 65J Z963 Stslfcosts 6ovemL¥S lrdlAIItyw￿ré AudltoVsrenwJneratyon 141.1 a6 31 z&0 AUdIto￿sien￿nera1lOn.mn I￿[1 5eThlces Omc•c05ts

NOTFSTOTbE ANANUALSTATEMENTS FORIHE YEAR ENDED3IALW21QI 7. TAllalBLEFi¥EDA%SEfS.SOIOI 24697 417&4 119.6 9 316747 Addttionsatcost Transfexs tlsposals althceat31Awwl 2tt1J 417A 33JJL7 ACCVMUiATEDDEPREQATh)14: 431a9 7.612.3 Char8e fOr￿r Ellmlnated Dn bakn￿al 31 A￿USt 2W21 Il•t lookVdue•t31NJwtiou 24A7.9 ple¢8￿v¢￿ at31 AwtotZOIO 19J8i6 8mO 25.G62.4 TOT 24rn2 43&7 4￿} 4B7A 3194&7 6Q7 Addftionsatctyt Tra￿sfer5 CÈposals W•ne 2021 116 29.7140 273S 3?￿5&7 BolO￿t uti Strtember2020 Charge fory￿r Ellmlnated on dlspxal B•l•rK• *tIiAu￿ 20 7￿7 243 JgJ826 4￿.8

TAUNTON50100LEDUCATIONALCHA NOTESTOTHE FINANc￿5rATEmE11TS FOR THEYEAR E￿)Ets alA￿LisT￿)I1 Bakncé OTh ISÈpLtn&r2020 4654.4 1459.11 f86.71 4Y.654.4 1459.1) f8&71 41>3 4.529 I4￿ Atl.. Galnon¥evlui Add.. addit Bala￿ at31 WIOII 4￿1￿9 IrAwmwiiTh$ub$111grycomF¥rd•s 452a9 The In¥esui)ertin sub3ltharyc0mpan￿su￿ts W￿￿OrPh(l￿￿1￿V1un1￿￿hoc4 Énterwlse5 L￿￿4d.a cLYnp￿￿￿WlratQd in El4￿nd and wa￿.The rEw¥e50fTaunton 5th001 Enthvwises Lknhod at31 W1021wwe £nll 1202D'. £￿1. AIIALVSISOF F￿￿lA$sEri1i￿1MEilrS Quoted In￿ents at Cash at brokers Inve5trnentin 5th￿￿ary£¢x￿PW Totsifimed a55et1fft5tmEntsat31 ALwJst Hthriral CD5tof qLthd inVEstn￿￿5 52116 4425.7 4)25.7 5JlOJ ay7.5 4523.9 3547.5 4￿24.0 3J47.5 3.5173 Induded Investrrtntsrttrf¢llxvtr¢7AthKhexceed s%0fthet￿VaraithtaIw?01L. %of porthllo 59.4 J.XS2A 202 5th0015hopand mater¢abfrf sa cOr￿Mable matffk* 8L7 6Q5 13&7 45.1 133.6 133.6 Putyl¥ Fees Premments 23L3 IIOL9 I￿4 2aL3 J77.U 1&14 IlQ9 16AO lia9 1552 TfadÈandrfh•rdebltyS b5idkirycomp 221.S 723 90 fj07.2 561.0

YAupifoN SCHOOLEDUCITIONALCILIRIIY 140TE5TOTHE FINAIKLAL￿A1F￿E1 FOR THEYEAR EMIED JIA￿￿TIO11 12. CRÉIHTORS DUEwrrHIN ONÉYEAN 8ankover&4ft 8Ankknan$ rTrdefred5kn5 Payrdltaxesandsocial seuwlty Empwe penstsTrtsnds Fees recekdIna(￿dIernI gjbstdlary company Feedeposits Ot￿ credilar5a￿jIrcn 1393.2 417.7 335.3 25&1 3Z&3 1383.4 14.4 1353.8 I730.3 9.999.4 571.4 lQ57a8 Z9L5 £73&6 JQ073.7 571.4 6451 777.1 J02ts.4 43 DIK FfER MONETHAII (INEYEAR nk k)ans FeedeK#)sIts Ath¢efesxheff 347.6 14617 J6Qi 347.6 1.461.7 1675.2 1675.2 The Sdwl bas thme bar HSBCgafftkK￿ Thèb¥thk)￿ ¥ s•£w￿tya GreT￿¥ andT lTri#wyearfJrle&%on demand: Bankhians 13(&7 Bankloans 5L2 2x6 5L2 2246 nk103n5 U>2 351.7 123AI L654J 35L7 16S4.3 asffdlo￿. 2020 ADVANCE FEE PAYME1415 Wthli one year one totWOVEarJ 571.4 193.6 571.4 293.6 5L2 181.8 L437.3 5L2 181.8 L437.3 SOIOOL Balance at I Sept*nber2020 Mvrfrfcontracts Arnounts uulisedtn pawMntoffeu 1924.6 197.8 {653.71 17Qi) L4J7a 197.8 1653.71 17aii 1617 L45count54ppI Bal¥K•at 31 2021 2$ 1437.3 1437.3

TAUNfoiisciiooLEDUCITIW NOTESTOTHE RNANcMsfAIEMEII FORMYFAR ENDED JIAUG115fl(Ql la. HIIA14aAL114sfRUMEIITS s￿oOl 2020 zi nanthlas5etsffleagJredatf4rv&SJe 4.425.7 H•and41 a5SetsatfakVa￿tncktha5sets￿￿%kVo￿$1r Cuwrenlywmwnmert .c620 at31.wl l•Tr EwnLcmbeSthO￿MpFur#j 01.t>.19 32.￿20 laTh Fund 19332 (3173 IIOL9 1799.6 The lan EvantrLombe ￿￿3￿hIp ptolthe F￿d$. The8Wtwasrnadty tkTrustoosof Mr Ew4r&LthibÈ with theubj&fjve toad¥an¢ethe 01¢h￿re￿ wh) rKitothowi5t Ifftrd thtS(Ws ￿￿¥￿1￿￿forsr?rAuSh4￿ to be awardJ to tt¥o puplL% 5tartini in the L￿rSIxth Eath￿r. 14b. AEsfRKfEDFUtIos Cuvr•rfY￿mD￿M•￿¢ atOi.0SJQ It31.￿11 T￿nt￿ Sth)Ll Found¥tlon Dlnlni Room RedthY10Fff￿t1rQ1Ert Parentsl Funds Taunton Sthoc4TnJ5t-Land & Tauntrjn SthoL4Trust.Other FMd%.' H•ynes Fund 14n EvanS-Lonkn 5thtskrship F4Th1 Gerrnrd Memtsrtyl knrsary Taunton SchDoI ￿h0￿￿￿1p &knyknd OtherRestricied Fund5 931.7 9292 1053 &fj 847J 9&7 49J 63 JJ 5S JiL6 IZ7 atOIA¥J.19 Trrfers at3LIX20 Ta¥ntonSthorA Dlnln8Room R4dÈy•hifv￿tPr0￿rt Prtntsi Funds TwntonSchoK4Tru5t. Lwd& Taunton5thOclTr￿t. CthrFuryJk" HMe5 Fund I￿ E¥ans.iombestho￿rth￿ F￿d Gerrard Memorlal Bursary Taunlon htxA Stht)l•rsFdp& 8ursaryFurAI OthEr ftestrkt￿ Funds 1147 1270.1) 212 931.6 SU 4989.0 4A8 105.3 I￿1) lJ59.8 8&Y 7.3 847.9 916 4&6 2710 zi 49.3 4.181.9 23QQ 13WJ

TAUNfoiixiiooLEfiucATThALOIAVIIY 1107É$7OTMÉ ANAIIOALsfAIEMÉNTS FORIHEVEAR ENDED JIAU6115T21)21 Ilb. RESTRicreDFuFxisicopillNIIEDI Thetemisofthe m05tS¥niTh(antFwts¥ewmmidbeh)Y. deveknpment ofthe edur4U0n￿ ladl#JE54r4 0lthe5cF￿￿. OthwFuds". Haynes Fund. The Fuffld w45 set.up ty the ￿ olthe Lite J K Ila¥1￿ The IKcffle ts to forwF4L% olTaunLfAI 5thwl Eknrlcal. Me£hankal orcfréll EniknterlniatLc￿d0n LIr&W￿ty. fjerrard ￿rsary. Tr Fund w srt.44)ts) T•untr• StrrtdStW•rshiJaThY&ryFund. Iltsthjrnj wrythJ25dK4wthp%Jr•J bJr5arn5fwpuF45 uTaurton 5(tsJd. otherfte5tr1c￿ knd5.IndudessmilEr1￿vJ5SUpp￿￿Wa raryofacifrknkn thesthoc 15. P14ALYSIS OFIIEfASSEfSBfjWEENFiW PensbJn5cheMe￿SerVE Tawton 5chJolTwst Tawton school Foundatic L959 929 413 2&6 Endowed FLn Unrestrlcted ￿ndS 24527J I 29W8 19JgUI IL566 17,929.1 117U¥ Subsidi•ry'sReser*s Growb prtoryarrnawrn• Ii¥w Term EOAI {19QO) P9QQl 1959.8 931.7 T•unton Sthod Trust Taunton Schod FwNdalf¢ OlherRÈstrkted ETh(Owed Funds u￿reSt￿tte￿ Funds th•rMy 5ubsldkirfs Re5er¥es rnup 9317 1799.6 24.746.0 29,58& IY99.6 11311.6 17.W3.1 IlQ759Jl 19.61&11 11675.21 IZ675.2) 12SUOJ 29.589.9 19.6ZI.61 11675.21 12SUOJ 17.Q03.1

NOTESTOTNÉ ANANalLSTATÉMÉMTS FOR THE YEAR VIDED31AUGU5T2roi 16. CApfTALCCWMITMVITS XMQQL Contrxtedforand Miwithdfor 17. RNANaALCTh41MrrMENf5 2020 Vmhin I thln 2 to5yLYrs mOreth￿ 5 Y￿r5 277.7 22.5 IQ4 39lS 2612 8243 455.0 3341 IC6&8 3Z9 SEe 4f0rdetaI￿<éthe1r￿r￿ctklnStwch p&ebe￿¥t￿n￿￿Q￿•l1 h$TAI￿V￿￿3¥b￿dIWv. Taunt￿$d￿ Ent￿Se$Urnfted.I I￿￿3rand any an)unts(WJtstsndkn8 . PH4SThCOSTS The Sthool p4rll(ipatps In the Yead5' Pth Stherr Wa￿? fthe TrfL for ￿ te•thkn8 siafi. The pe￿￿fjn ¢har8p foy the year includes conlrft¥J¥Onspaya￿elo theTr5 of£lW.711S120￿. £L2912531 atlhe yearty￿ £127.42112D20'. £IZ6A141 wasaccrued ￿ resmof tothlssdrnB. TheTPS Is wfundd mu￿￿n￿werde￿ bqnefftts pensthxstheme8o¥uned tyThe TÈa(hu< Pensk)n$R¢WK￿s2OIQ la5 ￿nel￿dI and The Teachers. Per￿1C￿ Scheme Re8datth 2014 las amendedl. Members ¢tythi￿ 4-PBy ¥5iw ￿ bays7￿ coTrtrl>ution5frcon rnembers and thè ér￿10¥￿￿1nICred￿lÉd￿thÈEXtW. ROw•Wnt•r•lother￿l￿bEnoltsoTepIfrtty ￿PartI￿rte￿L mostretenta£tuarial valUau￿￿fth￿TPs J5 It31 ￿rth 2016￿d thEVabJa￿ Neprt thkh ￿p￿[shEd &) Marth 2019.tonfirm that the err¥kner cim¢rlbJtion rate for the TPS &Krease from 16.4% to 23.6% fr£￿ I Sopii)bw 2019. Eftwk)yets irt D requlred to pay a stheme almintstraikn kv#of0.￿￿￿￿a 14te ￿2).6 The 31 March 2016v￿atIon Repcrtwa5 prep¥ed in accudaKe wkh thebonthsttyrtlnthe Lrthr the ipwoach speclfied the Dlrectlon as ihty aF4knd * 5 Marth 2019. the 4tyJmFkn5 WEWECWfjNler•J Set ￿the ￿p￿￿￿nt for Educatson wlor to the rullnKln the'Mca¢judthr¢￿nt ca￿. TtMs¢ase ha5 rEqvtr￿the ca￿(a¥S ofthÈ 2015 rEfOrn￿ tv P S¢The Pensknslncludiw theTeachers' Ckn 27 J￿e 2019 ￿ 9JpveThe Cthbrt den￿ the thè VF A￿r$ ￿¢SmEnt tr￿s￿OnI1 pr￿lS1on5 troduced to the rthm)ed penskn Sch￿￿ th 2015 we rtse The Iry•Yrnn￿nt is respea1￿ the Courts dÈdsiDTr and has said itwill enygE fulhf7Mth the Emthrnent Trib￿ as wel a5 empkn¥w mernber Tewesentswbts ￿ 48rtt htyv thE di¥riminatiDrth will be reffled￿. The8a¥ernment aMoun(ed 4 FebNary 2021 Ihat ￿ Intents to WOLe¢d ￿ • delmd dK>Ke und￿n unknwtlth members ￿11 bo thoosetithtt Ytfomtd re5PXt al¥￿$e￿•[e the￿0d bet￿￿ l 2015 31 M•rth2012 ¥tt polnttheybe¢tYne p8yk4e. Secretary tothe Tr&wJry. hMr¥in Z018 IhereTrJbJ be a ￿thiS tap JarwJJry 2019announced a pause to thèctsst cap mechanism fdkJy￿￿4t￿colrt ov Apwfs In the NaN￿￿t￿lse b(ertThty aboutthe valUfrOf￿n￿(￿ to from ￿ri1 2015 onw4rd& The F4u5e 20ZO. ￿ a twaSlau￿htd on 24 wopDsed thinKe5to thEC05t kYopo$8Lqrewffffj)enrJed ty￿Gty￿1VlW1tkn￿ry.Ind ¥Einrytow￿ltrSethWv￿ tkne the Z02oYa￿n

TAUP4TON S¢HOOi EDiK4TIO1IALOIIR￿y FOR THE YEAR EIIDEDalAUGUST2021 J9. nNYONCOSTSICOFfflNW>I Invi￿Ofth•Ab￿ruIWanddeds￿rf￿the3SwtiwA wed Mithe31 2016kburWVahJthnffiry Inwowiate. In t￿S￿e￿rf a valuatiyn preparEd In xtordancÈtith rovtsed knÈfftsandsufta￿r￿ISed assum￿On54￿4j1•￿eld dfferent resukskn th05e(ortalnedlThthe Actuart Valuatlon. Unfjl the SfMx¥w4eloconcbJde(￿ anylknaTrda knpxtorfuture thon8eststhe pport5taff TheSthgL4 UPEfES • thed bw•efftp•¥kn s(hwwfors gJpr#Xt stsll.TheTathiton h￿IS￿l￿s￿eThe, wNth ts marbf4edon ttsbehaw jLT.Tr3d￿ffieI5f￿6￿d and The s¢htyKe dtssed to newenrmts on l 0ct0kn￿I.The lattfcmal Valllayon of the stheme wa$ perfumed as at 2018. At that rwne thexvJaii& sU￿bJ5 ¥As EM,i¥AI 50 a rec¢y•Yry pLin M Th)t requYe¢J. subjett to revkw at 20 Y•ars Fora male At6S fora mak rnembera8ed45 Fora fema￿E￿Inty n¢AY At65 lola femikm•ira8td4S 262 37J 295 lTrftattc 8ateollncrea%e In salarfes Pateori￿re￿OrPQThth kn ￿ne￿and deferred 2J NIA WA L? FV•k* Equllles 2210 4.676

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957 67 Arlygs ofaM￿ntsch3Ivd toopernyww Inwston PIn￿on schemÈllabihries N•ttharye totheSOFA on xhemelssetsan)￿li£C￿) %Df 5chemea55ets4tendolyw 8#J) I￿&0} Experfence8ainll105s}c￿ scherne %ofstheme ￿bill￿sa1¢nd ol 56 146&Ql Totil aetvarf¥8￿￿0￿s11eu￿tsedIfft SQFAamwt (ÉCWI %clstheme Ilat411t￿ atnd (29aoJ 202 M•thvalueofasxts Valueof 4¢¢rd l￿bIlityes UnrewniSEd 5urplu5 4ÈtPen￿o￿ Sw9WICWI knthesthm• 4967.0 fT.357.OJ P36QOJ 12UOJ t￿1(￿thi xhemell￿nth10l N•tlnterest COSt OtherftnarKe leynsemncane tuadal 8alnllkis%l iknrecrynisedsurF4us Stheme a$￿/(11a￿l%yesle￿dOlv $77 153Y.OJ 347.0 25aO

TAUNTONSCHOOLEDiICAT101411 NOtESTOTHE HNANfJAisrATFMEfll5 FOR THEYEARENDEDaiAUSW2021 19. PENOW COSTS(COND 827.0 s&0 2&01 6&0J E¥perfenceykn5lllosseslon theHal an8e kn aSsl¥￿p￿0ns Unreco8n&ed surp Actuarfal gainlO0551 re￿￿￿ed knSCA 295.0 Openkng dethed tenefrtoElat irterest cost ActU3rfal loss￿(￿51 eeneftts pald a0$￿defined b0nofttLIRa￿Th 7W7.Q 1.0 250.0 126&0J 7.3faO 123 411.0 f265.01 7.257.0 Inthe f41r¥￿OISd￿rne•s .0 litho 821.0 12&0 z&oi A¢tyaJal i•lns Corrtn￿liOTr5 8eneffts paid 126&01 7.642.0 6&01 967.0 oFthe xhemtare Separate￿ Irun the5(hoc4. The emplws cth1tthL￿ fflatch￿ that ofth Withkn tho reekn tsf2.IZ5%. The tOS¢ for the year rewesentstheSthix>rs¢(thFwtKJntothEW¢fft￿f24s.914 I￿￿£240.1•1). The Sthool operes a defined penskn stheme, stsll.fflan4ed trrtfThe Rupl iDndon, as aTr atematheto T¢•thrs' Per&l( Stheme. The eftY)kyrferfst(Inknt￿Ith 16.48%. As•t3JirAnitlrt 37 r￿mb#s4￿d thE¢VSllurthe ￿{r rewe5entsthe5th￿l'5 tothe5thEmEof£140,024.

TAuKfoN SCHOOLEDiIU4TIOFULCHAHirY IIOTESTO THE FIPIAt4CMSTATEMEFirs FOR THEYEAAENDED3IALIGU￿Zfft1 20 Totol FuTrd5 trAwttabl• a¢lW•5 Sthoc4 lees (Xhereducational Inromp Qtherandlary tradh¥ln(orne Olhertr•dkniuii¥ltles Non-andll¥¥tradln8lrKom IJSS ¥OBLO 897 149646 14L116 •Y7 587J n7.9 Inwe51rnEnt Inttyme 60 Donathifts and bewe5t TLal Incom? 164 164 324.6 10.932AI 21490A lr¥fvods Non-anu14rytr•thryew FundraisIn¥anddv￿tyrr￿rt Fknancln8w5ts 2642 117 aL7 814 3593 3173 Educati¢￿ d9Mtma￿rrf 20J7U 365S 2L644.1 22.W.4 JL7 2L685.7 131. 1Th.7) 487.0 18&7) 24a8 19LiI 73S8 19 NAtrno¥ern•ntknfundslTrywv 191Jl I￿6> 1113Q41 Jnds balan¢es iSrf•Y*w￿8 IL927J 42nO L9312 1&ts3 17,397.7 L799 17AI3.1