2021-08-31-accounts

G¢Then*vs'Reprt ondFiD3ffcMIs￿effleKI5 Ayi2021 theyear ended 31 Awt 2021 Re8ÉStered ¢ty￿PanY￿￿ber 4038033 Registered charity nwnber IIX1765 ¥AB2XIATT"

171

COMPANIES HCXJSE

Lot¥h&Yough&hooF$ Foruthii Ftrilxyewert&d31 A¥¥wi2n2J Contents G¢)vernorf rewt Statement of trustee¥ responsiblllles 21 Report olihe independent •JditLYS iothe member5 di0￿boT0ugh Sth0¢15 FO￿datiOn 22 consolidatedthtementoffinart1￿ attMtit5 25 Consolidated summary incomtand expeftthtwè *count 26 Consolidated balarKe slRet 27 Charitat4e Company bakn¢e shtet Consolidated cash Ilth¥ ststement 29 Notes

The F￿ndation comwises four Independent ￿hO￿lS aThl nursuy. all located In l￿4￿barO￿. The LOU8hbLYo￿h khoofs Ftyjndation TKas re8ulared as a thartty bya nwnberofearllerKknes made bythe Board of Edu¢ati¢n and the Charity C¢nwniMlm On 20 2rxi) the th￿lty was incorpwlted as a company limited guarantee In￿ber 40380331. At the same tim¢. the I￿er tharitabb2 trust W35 th591¥ed and the pemaneni endovrnent tH7S sed ithin a ch¥i13We tr￿t {number 10817651. AU ￿ernor5 are Dirertors of the LOUBhbx￿ Schcds FourMJatiODC(ThparryaNITrustees of the tharitsb1ÈTrU￿ lormed on 28J￿￿t 21MJO. By Order of the Charity Com￿5510n. ￿Unts Cons￿date tht aCc￿nts of the LO￿￿&h Schods Foundatlon Q)rnpany fThited tyguarantee andtfr 5th￿15 Foundatsjn OoritatAe Tr￿t. LWbWWghGrrn3rScl￿1lL65>¥T￿ HIBh $th(￿ forGisliHSI tvefourtded In 1495 and 1850 respecti¥ely. F•rfiehl Preparaw Sthool becne auto￿¥MOUS in 1969 pmiou5ty operated as the junlor School of l0￿hbOr0￿h SthooL On l tember 2015 (Mbr Laws Con¥ent %hool (founded 18501 ¥ subsumed into the FO￿KId￿"0￿ thu5 its f￿rth iwnt schDoI: from i tember 2018. the xhool than8ed its name to become LoUgh￿r0￿ ArnhEf5t Sttrwl I￿1. The Nursery. emabtsshed on site of Loughbtrough knherst sctr￿1. opened in Ollober 201& Thro￿0￿ the GoNErnor< ReP￿ts 3nd finèncial Lou8hlJ¢rouÉb knls Found•tyw Is • educatlonal tharlty a¢knirristered try Go%wn¢n whD are also theTru5tees ofthe Charityand OVe¢￿S0ft￿ Ctynpwi. Thefjry•Ellvx5 the year. upto the dateofth15 report txctpt whereinthE31ed. ¥¥ere." mlrll &rTre￿¥ SorK3tME I)Er41kn7l OL MrA OJanesBAfCA MISE K CsitcNev MA ICIAonl IiHSI 1reylr￿d asthrJlAWt20211 R Harrisoti MAICantsbl uch RIUILH51 (app￿ted 45thar i StMehw202¥ Mr5AMurphyeAIH211s1 IAmheTht) MrsP ttNell •AA (Cartabl IIG51 1re5ifftd3l￿￿2O2ITr ￿rpsr￿flyI Bsc (Notysl MBACEW MVeSILGg lapFthrtedsO4irl ptrmber20211 MrsG Plthard$8A H0￿m.Ed. IlorLEd.OIFrfithJllreswtsl 8sthèir31AyJst20111 rAHarrtsMA (Falrfieldl lappLintrd ￿0￿1r1 5¢pttyrtr 202 Professor RfvJf￿C￿ OA PhOInS￿ 31Jdy20211 r M ￿4m￿app)lnted 1Septeml>er20211 K•rst X Crilth2yMAIOAoTrl Profe550r ADo¢J50n BSC (H￿￿. PhD. Dsc J Es9)n Pbo lawclrrteil ISeptthkn20211 Profo5so¥J Feather W Pho. F Jennbfer. La(tyGretton tVCOJP. LL01H￿. ¢Hwl. HThLOiItt lrtsW26M¥th 102 Mr K M Hi¢2bWrt MIFr irVité.Marshèl G Htr•ard C8. Wl•pp)inttd I Sepiemb¥20211 Mr P MJa(ts¢n FIMI (re98T￿d 26Marth ￿21> P¥ofEssorJXthBk IHonsl. Phd1Olwnl lJ¥)L MSBlresmd 9 F•trwy 20211 MrsAJ E UrnbOBE MAIC4n Mrs G NKh•rLts MHOAS M.ei. HotsEdD Mrsthah, BSC IH¢>nsl14ppatnted I 20211 htrj $￿e{rE￿ed 30£c￿r202o} MrsLWebb BSC IHofts1

Gowrnorf rwrt ItontiThJa) ForihEiweAltd31 A￿#￿[2￿71 NoMinotedGoveff￿r.' Cornponv&uetw. J WDohÈrty. ICCG. Ml¢JO. VR All Govemrs ¥ve up thr time freely and Th) I￿￿neratiOn was paid duri￿ the tovrse of th year. Reasonable travelling ènd assocrated expenses were paid in aCCOfdan¢e¥Jith F￿nda￿"t￿ pdity. No TrusteelDirector. or person connerted with a Govem¢Y. reorrtd ary 15t￿fit eilher from a means-tested Fourwjaion P￿rSary or a ￿￿OI3¢shIP awarded 10 a piWI. 3 BIKtfyi Walls L04uhl)w LEII 2DU National Wesvninster Bank pk Market Place Loughbw0￿I LEII 3EA 5alkttors: Ve3IeWasbro￿h Wttards Orthardcwrt Orhard Lar Bristol BSI SDS Blfd. Witsd andS3le 20 Chur¢hGats Lth4hbtyo￿h LEII IUD C￿per parry Group LIM￿ed Sty Wiew. Argosy Road East M"¢lands irport Castle Orywrwon DE74 2 ath5 Stanfey & Co. ￿Mited 25 Luke $1Jeet EC2A4AR Cgrpwhte Dl¥ision 4 Fl(x. Insurarxe Htsjse 125-129Vau8han w•y Leicester LEI 45B (aThJ Mana MathwJni 3 Bank Cou¢ Weldm Road L(wJghbwouEh LEII 5RF

Fwits)vty¢thltd31 Aw2021 Oble¢ts The (jÈc¢ for ¥thlth tré Foundèifonls estatllshed Is to attvan￿ ed￿afjon ￿ caryylry on tn 6￿at Britaift a school or5¢h￿$ whrth maybe dtyty board1￿ sthods atvhjith infanty thldren andstudents may obtsin education and iftsiruction in academi sporkn￿ musital. edtural. sothtifi¢ tethnkal. reHgK>US, vtsratitsnal. sodal commeroal subpcts. xtvilts and uafts of ebyy dEscripkn and ty anollary or tho"dentsl educational adi4ryties and other a550cialed artivits for benefitof the carnmunity. The G•4errKodmikne polknesgfthe Fourthtlon )rHlthe Irthdual sd￿01& Theday.tI￿ts¥ffiartalérrte￿t0t educati￿1. developwt and pastoral is ddegated to tre Head% SUPFyled by thelr senlor stsff. The Chief Opering Offi¢ff ICOOI is arsTweraWe tr the o￿all 8o¥ernarKe of charity. and $F￿fiCal￿r responslble for the tentrallsed furtions of finance, knan re%>w¢e% estate5 and managem￿( health and safèty. compliance, catèrir% network ser¥kes. tommeNryal acfifft. marketrfs and three sitsid1￿companIe1 he Is a150 theC￿pa￿3nd Charityseuttsry. ￿ ofthesefundion5 are vnbedded ¥Nlthnthe FoundatwJn. Tr Foundation Is 8oveNd by its Memuandum and AKlesof As5otiati(￿. Tht Mead5 andtht COOattend Govwnty< meetln Fairfltld Preparatcfj Schfy)I for bws ar41 aAed >ll admastw.. MrA REamshaw, NPQH Lou8hboro¥4hAJnher5tSdKJoI Iln¢¢yptyaw￿ Lo￿hlM￿￿h Nuw fry Iws apA aged 6we.18 Heathnaster.. Drj Mwphy. Bi DPNI (Oxonl fry b)ys aRed Headmaster.. Mr D J 8￿, MA Icantabl Med (to 31 August 20211 Headmastw Ilnteriml: Or CA ME Ifrth I September 2021) Lou8hboro4h High ii. F Nffjle5 IM4Canlzbl M8BS The xhoLls are wlnys. 51nce Septanber 2019, rnherst Sthoot h•$ prwded bo•rdiry far up io 16 pupts { artd errfsl as part OF the Foundation's partnen1AP￿Ihthe LaY•Tenn6sAs%xlab"on aThJ Uruvetsityof LoWborou8h. The Head5 of Sthoc4. Fairfidd Prep¥atory Sthool. the Gfanmar Sthool and the Sthod. and a members ofthe CISC IAP& HMQ and G￿resp￿lI￿. The C(XJ 15 3 memberolthe All of tlw professlonal bodies are in mernbership of the Independent Sthoow Cwntll. Membttship of these asxKiaticffls wovldes an opportunity to share txwts"se, arKI eXper￿Ce across the independent xhooF< 5ertor. These wofes$5onal assocktions also tathtatere5xts￿￿trOnttstheGO1YTr￿wIand re8ylator5 On thevths of thosector. and effi<ien¥y. The Nominations Conffiitiet bfflwviews prospect￿ eo%mors on a re8ular basi5 and malntains a list of prospetb% c*)didates to be calted f(Th3rd vxafides ar15e andlry ￿11 gaps in the Board IJe¢ome apparent The Secretary th the B¢Mrd MaIn￿n5 a recThd oltht aThl e¥twleffe ofcurrent Ints￿eS to

a￿¢F￿an¢1al SwerntMI$ Forthewerykn31 Aw21121 GMrnorf report {continualJ A tomprehen5i¥e p)liCy￿Sts on the recruiknenL selection and ind￿￿?￿ of G0￿MOr$. Moreover. in addition to having access to professiona dthlopment trainire provided by adwstts to the independent sthools, sector, the Foundation ha5bistoricaltystsged itsowft8TrRrrus' tyairry days. tl a¥Jifation bEir4 to hold atlea5tone trainin day per annum. A rewd ofGo¥¢rnor trairin8 is hdd by the Secrew to the Board. In additlon to tralnln8 for the 80vernor5 as a whole, indr¥i41ual 8tyerntys also recei% to support thwn in spKrfic duiie5 they undErtake. for example 5afeguardiry arJ finofft￿. The Foundatym is a memtr of tt Association of Governing Bodles of Independent Schcols IAGBISI and GDverntr5 art tr￿C￿lated to make use of tt prwnme of cortferences arAI semihars offeved. Frorn September 2021. all GokerYb)rsTilltake part in an apwasal. in the12 rnonths prior tothe end of theircurrent terni of appoinb))ent. New Go¥erntys wll have a one ￿ar'prObatiOnarf perrod as part of their initial three.year tem). This will allt)w Board as a whc4e to e￿￿re that all G)venws have the tirne and abi&ty to perform their rol4 and that the rde continues tomeet their ewtation The aoard. six f￿rti￿al c¢ynmittee5. exucist5 the mafta8ennt aThl ¢mtroJ of the Foundation and S(hoo15. Additionalty. an indiidual CL¥nmittee knuwn as • Schod Bts¥¢f operates for each of the khools. A5 the funthMal committees have kyimaw. thefowScho(4 Boards hwe fimited executibt butwere constituted to erbsure that sthool Issues xe appmwlatelyraised at Fwndatyon board le¥el. Durln8 the year the Board undert¢Jok a fill review of the Go¥ernarKe str￿t￿e$. aThl in partKular the size and tomposityon ofttre Board and the I￿t and COM￿bknOn ofihe Sthool Bo¥d& The rebkn reported in March 202L wtih 8ownors aRreeinÉ a nwnber of¢hary> To seek to reduce ihe overall size of the board ro a maxirnum of fotsrteenTwstees To relain the 5th001 Boards. but ith a redLKed membership of thr& tyl￿teeS To create specfficp05ts on exh Board.. Chair. p￿demI¢GOVernOl. Pastoral Goverw. To retn the Financo. Audit and Comnwttee. a reduced m￿nberShIP0f tree T•in¢Teasethes£gpe tsftheOwationsCth)rrittpEloberometheOperation5and C4ynpIia￿ Corn￿ttee, wtlh o membership t>f three8overn To thsbartd Ihe Chairf Committte To thsband the Fundrai5i08Comftwitee and replKe IL intwne. with a F￿￿raISIng¢0rnpaIgn board. The aim of ihe5e thanges is to wo¥ide a smaller Board wlmle en5urkng the torWoad on GO￿nor5 is fairfy distritvJtEd. The charge in structures will tske effectfrthm I September 2021. th the tr•nyti¢)n to a smaller Board tskn8place over the course of the 2021122 year. to ensure a smooth transftr ol corporatè rnemory arKI continuity of Governan￿. The ¢ornmittees In exirtence durirythe yearwere: Fow5dwl Bo•rds IAmh•rt Falrfld. Gnrnmar and Hl•l W Each con￿stIl¥ offour Gv4ernors. or in the ¢a5e of mherstfive8overnofs. S¢hod Board5arere5F0nYb￿ foT liaisonongertefal rnatter5 and en5uringthatschool issues are repre5eTrtedatthe approwiate furftiDna c(Ynmittee andlor the Foundation Board. They have parrieular focus on academia and edurational matters and prowde the pnmary G¢)vemor/SchooF interface. incluth.ng representstion tothe ISJ. in adthtiw thtAmherst Sthool 8oardexerusesspeofic re5p005ibilities fortheCatholi¢ life ol the School. The Sthool Boards meet on a te￿ty ba95. Fr(Mn Septern￿r 2021 the ￿Ze of School eoaids ￿dCed to three mwnterslfowin thécase af thhv#l. avi1< Commio (d15band￿ *h •ifttt 31 2Qll): Consisting of the It￿r School Board Chair4 the ￿ce Chair, the Chairs of the Finance. Au¢kt ar￿ RISK and Opera￿OnS Ctynmittee5 chalred by t1 Foundotion Chair. thi$ committee pro¥ided a mechanism fot the identification. d¥￿10Pment and preparation of issues for Foundation Board discussion. Its prirn￿ fvnction was to ttre Ilow of ahiwnuritatyon ond enlwKe the FouYKlatiOA

Go¥omorf r¥ort ftontiTh¢l) FLwthy¢avernled31 A¥w2021 8oards Cawy strats8K ansi5 and tht c(W￿lderati￿ of Fwrthtkn issues. The committee met (th a temly basis. fromthefourschool lloarth,andOneothermembvw￿ ￿l￿anCi￿￿￿oI￿ed. The¢ommittee'sremit15 tornonilor thefin3ncial performanceoftheFoundationarKtrfscL¥npvMtschoo15ardtomake recommendationstothe 6oard actordinOy. It oversees extefnal authl as as tr prreranme of Inwnal revle¥A and check5 undertaken throughout the year. suth as spot of the $i￿e tentral le￿eT. and safeguards the inteBrity of the Foundali¢>n's Wems aThJ intern31 ¢tsntro& The Committee is also rtsponspb fty rlsk mana8emeTht in the foundaiion and for ensuring ththe Founthtion ha5 a 1w.tenn ffinan¢i31 plan, consistentwith it5 ovèrall strategic develowent and infrastru￿Ufe plans. ft exercTrses o¥er5tght (rf tr Foundation's inNsknents and reser4t& The committee meets on a tern￿ l)asis Frrm I Sepiember 2021 the C4¥nmltteè¥rril h•thret mernlr Op•rakn C4wnmltt•r. ot Gmmrys it athises tr BD¥d on all mattffs rdatrt to ¢aiitsl dévelownnL reactvle and ￿anDed maifvtrnan￿. m•intenarKe of the gro￿ Hurnan Rèsouro5. Networks Seryices, cal￿11¥and healthand Safety. TIcrAnft￿ll¢eMee1Son atemifybasls. From Iseptemberthecommittee will have threemembw¥ and the remil oftheC¢ffirytheeill be trolerd to ￿KI￿deCOM￿l3￿. (￿lsting offourgoyemw. and attended byth? Dirertor of Dthlopment and the rn￿ber of the ExecuO¥e wlth responsibility for the De4t1￿ThAt Offi￿. tt Cornmlttee 15 resp)rtsitrAe ortseelre the development of a fvndraisin8 stratwin4ine vmth the Found•KHfs 5trpcpkn, ￿￿¥￿tep11￿11iesfry fundraisln8siipporL This C¢>Trmit￿e was disbanded on 31 AW 2021. Remw￿￿CfjffknI1EQtt ConslstireolttfOwkh￿lB0ardCha￿S.thev￿e Chairandthaired bythe Foundation thair. rt th"1se5 the 8wd on salalies and tondibons ofser¥ice fLY Foundation staff. teachers and s£hool< 5UPP)rt staff. Tht committee has specffic responyixmy dttemii1M￿ remu￿170￿ d the Foundatlon's senior ¢)fficers. Trwnmittee meets annualv. Th•Non¥n￿comrkn. cO￿5￿ng0110wpw￿notsand ¢tr41red￿theFoUndatiOnChaIr, it3th5estht Board on the recru5tmenL selt¢tion and ind￿110n of new Go¥eM￿. In doing $0, it makes use of the policy on the iecruitmenL selecvon and Inducuon gf ctynmltfft may up to three tirnes a year to consid applicatyonsfrom Prgspth 8QVWrn)rs and underte 5￿cesSro￿ planning. The eoèrf also rtcehttreports from The ￿ld￿ryTrar< eo•rd Subsl¢laryTraIfj￿ 803rd has three DlrLxtor& one of whom is [￿t a trustee of 5¢hooV5 Foundatfioft. The Dlrettrys arè respo￿lble for the leeal L5F Shop Ltd Loughb¢ouBh Schods lntWn￿1oftaI lthryd•)l Llmbted Idmantl The investsnent obiettwes are to generate the hi81￿￿ possible retums which Con￿ensur•t2 ith a k)w to meth'um lertl ofrisk. The Foundation does notspedfith tn¥est in ethiul in¥esiment& The bulkofthe hooW ptyrfdioi5heldln funds man bythsStsrdeyWealth Manw whoacl as the IrNe5twtht athiser on trus e￿1￿1 d the p¢tlth"a Tre majfrrity of the rnnalnder 15 rnanaged by C(LA Investment Managernent Ltd The Value of the wrtfofw inueased frtyn £4.145.(W to £5.052,tXN). course of tt ye4r. The Firtan￿, ¥ditand Risk Commlttee re¥iew7 ￿ K*rfomiarKe of the fegulth, FTSE 100, the FfsE All Share and the ApaM5 Inthcesto bwKkniawk wrfm•Ke.

L0¥hbwugh￿S Fotwthio G￿￿￿￿'Re￿rtU￿I FincriolS(ureitsrf$ Forihe)arernd31 Awiw21121 Go¥morf rwt itontrnued) The G¢wernu5 have established a O¢cyon the holdin8of resrn. wfrdch is ¢￿ti¢￿ted as fd10￿.. A sum e9u41 to IOYS of•rkir£ Captt4 wluthfty the 202Tr21 was deemed tobe E963.OY) A sum no less than 5% and no morethan IO% of the dey"8nated in yèar CAPEX reqwrementwhh for th? year 2020-21 was deemed to te £6LCi Thè total furds hdd at end of rewb.ry perifyy were f67.735.1KXI ar￿ of this, £55.170.tIX) wa5 either restricted or endowed and theref￿ not available to be used for general purpose. The Foundation also holds investments suffiaent to rnatth the restritted fund5 05 represented by the sUr￿ry Fund. A & P. M. Shepherd Beq￿eSt. D￿n 8equÈst. Coltman 8eqL*St.'JohhnieJohnsan' Aw3rd F￿d. W¢knn Fund and vaiious prize and 5tholarslwhJnds. The¢ombined rewirementofthefree rest￿ al￿restrICted1￿dslWtyAthereptlrtiNg ￿l￿Was£s,989.(￿x1. As at 31 Awst 2021 our li￿d tW￿$were É11443.(W andthereftye poli¢ywa5 meL

STIATEGIC REPORT The 19 pandemic continued to d￿rUPt the Operati￿ of tt Foundatlort arld its sthoojs dwir 2020121. Go¥eMorswe￿del8hledtsl￿￿l¢0￿all pupls ba¢kontocamwsln September 2020,theflrst ￿me￿r5£hO015 had been tceether as a t(ffimunity sirfe Mar¢h 2020. To erwe that trms could be done safety. sthrK45 and the Foundation adopted 3 number of safely measures inchjdrt 'pupd b￿b￿e<. arfdriTo￿ Clean1￿ 5ta8gored tlmdables for arrival departvre and mea tin￿5 and than8ts in the defp•Ery ofthe vxriEulum. Where requlred to Durtry the se¢￿d lo£kth¥m annowKed inJanuary2021 ow Nw5eryand ￿NI￿garten 5ttinB5 remained open and the Foundation was F4eased w be able to ¢lfer • Pla￿ to the cknl(tren in otheryear wps ofall key who requtred one. Our Dn-line learni￿ 5Ytr4islon Conlin￿ to de¥eky durfjryihe second lockdown, wlth puplls able io The requiremeni for mass testmig of pu￿15 bef(ffe trelr retwn toxhool kn Mawth was rrt ty5taff from xrossthe FourKlation. wlth all pwi15 able to rettwn on 8M¥dL The cafKellaiion of pubfic ￿MInationS fty the se¢•KI )ar Nnftl￿ dld not prwt ow Year 11 orbj Year 13 Is their capalth. Our conllnued on4ne le￿1￿ ttryhwt tht pandem1¢ meanrt puOls did not mss any ¢urri¢uJwn content Cou￿ed the diwt Twork of staff in the ttrree 5eniorsthools to devdop rerrt¢>w and robust a$5e5Stnert crrterta aNI exam1natio￿ ensured that puplls ztheved the GCSE and A.Levels resuks tW deserved. The finandal impattof the pandthcctyrthiued to be fell ty 411 mwnbw5 ofour clrnuity. In reco8nltlon ofthe ¢ontinuedfinanaal we55ure5 fKed by a numberof(KK fnitses. in Marth Foundion launthed the'completion Fund, appeal within ￿ ￿tynnI Comnwnity. Ow Alumni reSp￿ded eenerousty. 7th the appeal rai5irq £44.000 In doftations towards h￿1￿￿ pupls complete their ed￿all￿ in the FourdaOon's xhools. all of which ha5 teen warded w cwrent fami￿e5 eeypwithw fin¥rfial h¥¢tshWsas • resdt tsf the pandtmlG The1￿4$receI￿ undutheCBIiSsdrne in2019noand l￿d5 recti¥ed ￿￿o￿outtht￿ar undertht contin￿d 'furlou8h' arrangements SUPPOrted th man•Att￿ent of the FoU￿18110￿.$ cash p05iti¢Jn. Repa￿￿thts for the CBIts loan Lwn In A￿Ust 202L •alft Jmsf•rtheY Desplte the dlletw posed ty the Co¥4d 19 and doswe of thE khool% the Foundiw made pro8ress toward5 ￿ priorit5 agreed ty Tntstees tht ￿¥. Tl m•ft alms ts the ye•r. t¢8eth2r %¥ith an indi¢ation ofthe pr¢Jgress made. we: To erfurethesafe r+Opera￿oI al four sthools andtherewrn tocampusof all staff and puplls foll￿￿￿&the ¢losure5 rewired underv￿r￿nal measules to¢ontrd the paThlErnlc diseaseCo¥ld 19. Tr Foundatirm will conti1￿ tomonitc compty with Goverr¥rnnt ryutstiofts as theyare published. It is reasonable to elpell that therern￿ lfurthErdisrupknto artTrvities otthe 5th001s should lurthwloca natiord Measu￿ be Im￿sed. ondoddittono15ofvy Trwsure5 we￿Il￿P￿tt0 ensure thatthii I￿￿p￿re5 softly. ondqNe ¢onfiden¢etostoff ondpupils ￿￿ke05 thty retumedto corn￿ 7honkF to the rrkolteuchMwondsupportstoff tsestobllthl excellent on.linepmvisionand oure/M¥kersewThJ thesemrnlklAloin Jantsory2021 dlnotdtsfuptpuplls'le&mir

Fowdurion Stra1 Report Ic£Xinued) F4VihEN￿ endtd31 Aus￿1 2021 To address thefinancial impartof Cmid 19 on thè FouThlation and OJf familiesio ensure term nancial s¢Jstsinability- Theimwrtof the &)V￿19P0￿d¢t￿hOsbeen/¢tt￿011ports ofourcommuth. Go¥emw5 ore C￿￿Of the imp¢rton ourfvmils'ffic0m￿ ¢7ndth￿￿ss¢$OThI th￿ro￿lityto meet5dty)olleeL This presents uchollenge for the term 05 the Foundotijn bol>nces theneedto ￿￿intaInfteSot a levelv4lHch reTr￿1n5 offordubl¢ while qenerofyrnj svffiLientsuwlus to ￿S￿le0￿ oppr¢Jpriotelevelof investnntin ttochin9 ondfociliires. Tts support this u gmup w4sest¢7blishedro tdenrIfyeff￿en￿e5 oodwlermstsuving& ro supFort th05efvmiliesfacingin1ffl￿t￿nUna0I drffitu1b￿ the F￿￿)t￿)n kninrhedofvndrth"siThJ corrwoign. The C¢7rnpletion Funduppegl, whKh rESp￿￿edt0 by ouralurnTh community wlth Krmth ond generosity roising justunder£44.C(Q Th"s ljos olfv)wed 19p￿￿$ tscontinueto benelitfrom Ihe edutotion provide¢l byows¢hool& Inthe loMJer ttnn. Govemots oreommitedtoseek￿￿ to to widen offess to ourschoo15 to thosep(415 vthosep7rents knct theffhwnt#71means tO￿￿s￿O￿￿ee& The widerimpvctolCowd4yn thee¢tJnOmyohd￿rPU￿￿tCQmm1lItrrty ￿"lIC0￿￿￿4e to lfeltirt the ¢omlng 12 months. #nd Govemots ￿11 mtsnitorthdi¢4tots ¢lwssureM otto￿0￿lity1offPtrre￿ts0ndertSUfft the Foundotion'splonnir4 osstsrnPtkn5prowdeAoro mryeolwiblexemrts. Following a dwyon taken M 24 &ptember 2020. to ew in cor6ultation wth the Foundation's teaching stsff regarthng a possiblewitlxlrawal fr4)m theTeacherf Pe￿on Scheme rtPSl with effect I Septembw 2021. wth a defined contritrwb.cffi pen￿￿ sch&ne to be proposed as an Tretonsuttation peroYlostedoversYidoy& t￿r￿￿j this the teo¢hers'representotwes4Mdgovemors d￿(V$Sed0￿￿mtstrOI poMibleotternotivt5 to theprop05edw1t￿￿044rL IiovirJ conslerEdthe ulternotives roise in Februory2021 the Bcordo9reed to WMI￿rnWIroffl the YPSmJdofferon oltemotiV4 dqFned¢ontrrf>utl¢ pensi7n.from l Septemb¢r2021. Th￿de￿I￿ O￿there$￿se clsroff tsdetyfvdfvrtlwetsewhweln thls report. To Idersllfy op5￿nI￿eS to fwther 1rnW>bYt￿ wltyfe of and Indu5Kn. in support oltt GO￿nor￿ Jm thal the Foundation and itsschoo15 should be a beacon fc¢ indusiwty. lfi particular. Tnjstffts will seekto address the ethric ofthe Bwd OfTru5teesduri￿ 2020121 $0 that the eoard refiects more ¢b5ehf the ol our sthool ccfflmunities. Durinq2020/21 the Boord tirkd ￿th DrFx>nD knmn7nsond Drjeffery <}￿ye." ¥￿e￿e￿re￿perts ly thi5 fteld,. who hodundertoken o revitwof mce0nd1￿l￿5m the Foundotign'sfOursch￿ts. Fol￿S￿n9 this revrew ofj act￿nPl0￿Iorthe Foundotm. 05 ell0s specltKplonsfvreach 5clwl. tre gqreedby the &Jurd. The￿tIon Plan in¢ludedcomrnitrnents to stoff trolni￿. dthtl￿ntDSfvrtherdOf¢ ond repjrting onpupil Schoolstoff haverecewed tminingon rocevnLlinrlusthi. A bknkAknnNw Group"hosbe¢n estobiishtd JtLHS. ThegrouA ￿kh w0s1orr￿frofft the wkof block#lumni kn5tstsmn7er. meets re9ulorfy b••th theiieodond othersenlorsroff 9ndprov￿e$0lke 0ndc¢￿¢n￿tl￿l*0f wue50f roce. TheSchoDlisseekrng to wftden thepoffio'potlon in this gmup to theotfierscht￿s in therornuvj yeor. The 8crfJrd remoins committed to ensuring thotitrefvcts ¢hed$ve￿e comThwnitysemedtyourschoDts in its con¥wtin. P￿9￿$5 0goin5t the Foundot￿n pknis monitoredoThldrscussed temify ty the C&)mrnitte¢ ondeoch SdJoolprow"des scnrtiny to theurtbn5 ondpro9ressinindwnfwlsolco& To develop a dvdital strategy forthe Foundati¢x4 to allowwr pupls and staff to zccets tethnology in support Ofleami￿ and to Contin￿ io buld on the wo8ress rnade use of te¢hnolw during thetime ot le•mi The &gitalStrote9y wos dVscuss¢t¥ortdogreedbythe IieadsoTrJ ch￿I￿r01{￿ thisyeor. ond tlje G0ven￿r$howe opPn>￿ the hd9etfvr thefirst5toge. Thestmtw wif1stec¥￿ tt1t￿eprm￿onoI dew¢esfor teache￿in o115thwls onduAgrthles to ExiSt1r￿ hprdM7￿.

Fwtht)wended31 A￿￿12031 supportforollpuwlx Th15 WE75 1￿mpered ty tl¢oTrgoingffeJtrkT•xs Iiiiemoiimol tmtL Tlje Fo￿41t10￿ hoscontinuedto fvsrerlinks fft Clwno ol￿otherC0UrtTrtts itislwed ￿p￿0￿de thebo5tsloro mamin4fvlportnwshWin 8LJsrd Committees. 7he rewew wostt•Kltsded1ftMo￿h 2021 on￿t￿￿ Boordogreed the recommendatsons outlined a￿. The aiffl ol (hry5 i to wDWde Usn￿l￿80￿I￿f. tofvrmitgtefvrtherdeiwte ¢7ndthu55lon oAiuue4 Aftuconsiderin8 numerous option5 * both Inryease kKome and/ ry red￿e costs. the Board rnade the declslon in Sept•mber 2020 to enterlnto con%JationtO I￿raWfr¢ffi theTeachtrs' Pension Sthtme and replace it wrth a private peMM $th￿e a¢knlN5tered ￿the Avi4 PensionTru#for kndepeThent Sthools (Avnsi. This stheme is spKifi¢to the Independent Sthod seciorand probldesstsff wlth a competitive defined contrilyJti(m p￿S1on scheme. The conlrribution into thi5was a5the ¢qu￿alETrtQf 16.5% the sarr le¥d a5the ¢ontriixrti￿s intgTPS wior to the2019 itrease. The decislon to enter Into consultation was takth Informed by con9dEr4tion bothof the ¢urrent and future pension and tr FouTrJatit)rfs IOyearfinaKial plan. This pl•n indicad that was a reed to reduce The Foundatin Tmthtrewfr(￿ the TPS on 31Wst 202L (kn 12 November 2021 tr $￿￿tion aTrMLNtrxed an 38rewnut to opera a tandttn ￿sion sthemè f teathing staff frarn i September 2022. This will allow te4thln8s￿ff emplo￿1 ￿ the FtyJndatloTh before l May 2022 to £ho05è eitherTPSorAPTIS a5 trir pen&on scheme on a-totsl reward- basi4. TheTPS 5th￿e will be Thefinancr achi¢vthMntsand resdts fiAtheye3rweTe vnpatted bythtonolr¥CoAd 19 pandeThc' irnpactof the second'lo¢k dowrf In early 2011 and fv addStional costs a55(Kiated wilh ensurimJ ih•t our schools operated safely. The levd ofxh(K4 fee5 Inuea5ed ts£29.584.(rfX>IÉ27.8S6.(m Inthe wevitsusyearl. CO￿ sa¥iD8s achleved durinBthe sttond k￿d0￿m wtte passed ioparentslntheform ofa credit a8ainrtthe5ummorTerni fees. The totsl value of trms ueditwas £3￿￿xI. and Inckxjlw 8rant incryne the Cor¢mavlrus Job Retention sd￿eMe iaA51 of£219.1)X. Total resouw¢tseApthded irKreased troffl £3L46Z(W ift trw•ryousyeato£32W5.IXX). Thenetloss telc￿ adfvstrnentsts IrThosknents•d fu￿￿yearTwos If97Q(xKII. Capitsi eX￿dItyAre was £1.093.$￿. Cash In h¥410Trl * bank increased Ircth £4￿.C(￿l in the prewyear to £6.39LIJJ). LSF Shop Ltd Oper￿ In the Auiwnnterni thmh IAThtedsale5werereswhed in August IQ20. A surplus of £69.fXKI was wfted to the parent tharity. The wfrwmance ol the subsidlary Th￿0$ Burton Developments Limited, wa5 like￿$t •ffLXted bythe restrictions in place ihffjugho￿the year linlteil the use ol the Ch¥ltVs factlityes by external hwer5. Meani￿lhal in¢¢me frorn thelettin8 of owfKilitles was yeaty reduced. A programrne of holidav oursés did resu￿. and £49.LKAI was ¥ifted to the parent tharity {a dttrease on the previous yearfs Blft ald of £80.Cml.

Loughbmsh FouRdori( stratw Report Icontinued) F(W t￿51 Awi2021 Dw•lopment Fundr4bl Loii8hbtyou8h khools Fwndation bef￿Ve that fwrftraisi￿ the SCI￿1￿ cwe comn¥JAity Ipartnts. alumnl. 5tsff. 8overn(ws andfriendsl alon8sldethatfrom external compans. tru5rs and foundat￿$ is essential to Increase the financial ￿SoUr￿ wuired to achievt the LoLqhboroL¥h Scho¢ls Foundation's tharitatAe obitCtive5. TheTruste5 Iso retogni5e thatfvndraisK adivilies must be done in suth a wJytoburfd and maintsin the trust of ourdonors, pupi15 and parents. As suth ￿ set out our approath to fundraisi￿ in ¢)ur Donor PrL¥nise. This sèts o what we will and wll not do. iKluding t(xnmttmerts to fundraise onty for pwposes aligned wlth our charltable objertl¥es,. keep the costs of fun(traistrvatoa rninimum to be tran5went in t#)th the useof fundsiaised ènd the costs associated ￿thfUndraiSiry aaimty. Further detailson Inc￿nereceNed from fundraising can befound at note 3 in the ac¢ouThts. The Foundathon is re8i5teTed wrth the ￿ndraISing Ae8ulètOT aThl committed to ccffirlying with the Fundraisi￿ Code of Practice. The Donor promise also makes de¥ the Founthtion will not wdertoke exce5yve communications. ccrfnmuni¢ate in a way whith cO￿d pressure donoT5 Into 8i¥iw or Cont￿ or ¢omrnuThit4te with doners where they hase asked us not to. We do pay commissions tr other irKome-linked payments to fundrsers.The number of offi¢id Cgmplaints received in the year relatity iofundrai%tY adiwtywas zero. The DeveIopmentOfficehasestab￿Shed a database dort17.(MKialwnr4 of ourfourschools in thelocal ¢ornmurity who havehad in¥obrnnentwith the Foundaii0rf5 The continued restrthons in ￿l¢e as a fesult ofihe pandemic ￿￿e sernety ithitq.ted the work of office and its 3bility to hojd events fe¢ alminr and thjnors dwing the year. Pl$ are in plxe to recommence this aspect of the work of the Development Office in 202V22 •$ restriclicn are lifted. A new Director of O￿lopmentW111 take up the role in Autumn 2021, and wll work deh)p a dear Stra¢eKy to meet the fvndra15i￿ goals set bv the Bo¥d. Pupll Numbers Average pupil numiws in the year ¥vere 874 at Lo￿hbor￿ Gramrnar Sthool. 544 at Lou8hborthqh High Sthool 531 at Fatrf¢dd Preparatory khcd and 2%) at Lou8lknrough Amhetst School. An ￿er4e of 102 children a150 attended the Nurswysettin8 tkYou8hO￿ the￿ar# equiwdlent to 64.7 Time PL4)iI rul￿On fees were not intttased foi tt 2020nl academK Year. in resp)￿e to the financial pressu￿$ on partnts arislne fr¢Kn the Comd pandemK. The trlls wasa loss of f<￿e¢ast int4Jme of £l.I M￿l10Tr for 2020121. Tuition fees ¢harged durity the by thè Gramm¥ khry>l Whd trfj8h s￿￿01 were E4.460 per term for year$ 6-9 Ivear 6 only at LGSI. £4.5CQ per temi fw years Il>ll and £4.520 ft year$ 12-13. At Fawfield Preparatory School lees were £3.660 per rerrn Ifull timel lor ￿ndergartery £3.770 for Pre-Prep and f3,850 for Prep. At Amherst the lees We￿ £3.410 Fer term Prt-Prep. £5,4￿ per wm fry Prep. In the Senior 5th001 fees tre £4.2SO wr terffl for years 7-9. £4.270foryears I￿11 and £4,310foryeaw5 12-13. Acadornle This academic year has been urwetedented in the history of Fo￿datIon.S Schoo￿ The eontinued pandemic restridion5 and sèr￿d national l¢x&down meant that #aff and pupils had to adapt to rtLW ways of learning. Governors are proud ol the ￿llier￿e and cre3ti%ity shown ￿ our stsff and wpils sn adapting to the challenges posed bytherestrictions. l)urswbremote￿arronqpr￿iofi in alIf￿r$Chu0ISÈn$Ured acontinuitygfeducation. Tèathers and pupils used Teams •r*l Dther remote whnology to w9￿￿e a fum timetsbje of learning while schools were closed. fequired to Isola￿w¥t able to Conun￿ toa¢cessthe excelent levd of education provided by Iheirteachw5.

FLwtht)￿¢rnd3IAtW￿1 2021 thecarKellation ofGCSE ar¥Y A-L￿le￿ar4Dl￿fj. Delopiry rolw5t and foir sy5temstoenswethatpuils'efforts and abditie5 were f11rty￿Tded. The ￿adeS awarded wder th.is ¥earfs arra￿ments rellea ts re51h￿¢t arrtl hwd wtyk of our pupils. and the commitment * supyt of thew parents a￿1 teath￿. Pupils In al three schools achi￿ed fe5uIts above the national average. . 68% ?t A• A and 87% ofthe pas5e5 weweatA'.& AtGCSE 22%ofthe passe5 were atA•1941 yade. 4YA rfthe pa555 weA•IA19.71 Krnde and 93% ￿le A•IB19. and 93% Of￿ pa55es were atA•-8. At GCSE 64% althe p3s5es were atA" IM) 8a•f ihe pa55esw¢re A•/A{9.7) Irade and 99% reA•/B19- 51. ', 86% of tr passes pre atyadeA'IA and 97% of the passes A"lB. At GCSE 71% wereatA' Iwyade. Is%￿11 p4ss•5 AIAIg7) and 99%wereA•I619.SI. De5plte the extraonknay dI¢￿n￿an¢& of 2021 wblic eaminion syst•Tr. and the late £hanp In pol¢y regardingtheawardofw•des ow p￿1$cOMIn1dioachleve￿CfesS in sÉrurirepl%esforfurtherstuty. Ofthose applylr¥ for unfversity pbaces in 2021. 97% ot HIBh 5¢hod and 88% at Lf￿ghbOr0￿Sh Grarmiar khod wtre $￿cesSfv1 In obtsfjniry ces thelr first￿￿Ce InstFiutiOn. We continut to sucttssf￿ Fvepare puplls tr the rnost unfvtrs115 al￿ cryrn5. kr05S the Foundation. 21 pupifs ha¥t gor￿ on to siuth medtcal @rees {rnethcine. dentistry and bterinary scien￿5) with a further 12 5tu'ng alr￿d courses Ind￿&￿¥ rljrsl￿ 136 pupi15 gone on to St￿ at Ru55ellGroup Universit￿5 ar￿ 9 pupils ha¥e taken up places at O¥bridge Colleges lo contiTruE th•r st￿11e5. In addition pupils also ge¢wed pla¢es at westqt¢usirffjtrtiffjons to stutymusicand drama. iftduth￿ the Royal NortherCdleBe ot Music. SPOrtsfiMtures. the FoundatiM instead prtrded a focysonlndfvldual fitne55fLYal pupil& bE¢omir4one ￿ thetlrst Schools in the UK to partrerwith F￿￿tiOna Mo%ment stsems IFMSI. Fmsare le3ders in ihe field of movement The alm of ihe wtyramme Is io ￿1P all pupk urKlersrand how thry ¢urrenty t*rfomi movements. and IMw¢￿, thereby impr￿1¥$ thw frtne5s and a4•nst ihjwy. The s¥oyarnme wa$ to all puplls duriTrJ 2020121. Our muslc department were W￿l￿et0 tl usual wie5 of coK•ts. due to rnstrKtiorfj on both audierKes and gathering ff6em￿es. The ueatiwty a￿1 relience of staff alowed them instead to move to a serie5 of on-jlne fom)ances. Puiyls from across all four 5chL aNI al age groups were wovlded Il opportunrty to perform in the on-line Ad¥ent Calendar in Wetkly'lunthtw￿e Ir•' •nd Sour￿ bite5 Concerts. Pupils continued to excel In eoard eiaminiorsand ouryear 13 ffluskians seartd places4tanLThberofpre5tiVUS inAitutionstofurthertheir studies. indudlry the Northem Colteee of Mu arnl 5cholatships at Trlnlty College and Worce#er CathethaL This year ha5 been year the FO￿110￿ has p￿ded a wJar¥ntred Year 7 pla￿ for all wpils in Year 5 by ihe end of the swnmer twm. This apswch demon5tfates the v4ue ofthe'Thole Foundatiorf approath to pupll de¥lopmenL and femtyes fv ¥￿taIr￿and •550&tEd anxkty loryear 6pupiis habinato$kt the Ye•r 7 entran￿ exarnln0ti￿ Under these re￿Sed ar1￿e￿ents 5d￿th"p9 ill be awafded to Faknelds top three li

LoUghkn0￿hsc￿LVlS Fo¥ndtyio Stratffjc R•wt fcontrnuedj FLW flyiw exdJl Awi202J perfofmlr8Year6 btys and81r￿forti￿hboro￿8h6ranynarSth¢ol i0￿hbL¥￿h Hithsthool. Thesesix pupils will subsequently be known as the'Farfield Schofafs.. The Foundation is an equal OPPL¥tunities ems10￿. a)d has a respffisle approath io efflpknnent and Social legislation. The Foundotion met the 5tstLrtory reqtsirements to provtde a report on gender pay equality and will continue to mwiior tr#s ¥ea and make thange% and where thw are practic)le. The Trustee5 pleased to note ￿ continued prouess towards the gènder pay gap. with a ￿nt￿Ued yearon year redurtion in both mean and medkin measwes. The Foundation wek&rn applicati0ft5 ￿pIr•Thnt from th51ed person5 {ha￿Thg re8ard io theff particthar aptitude5 and abitstiesl and a￿Sts. whe￿r practicable aTrJ ta￿'ry intoac£ount HR best practice. the recruiknenl trainin& career develoryneni and pr(ffiotion of disalW peoF4e. We seek to ret•"n. and as appliCa￿e train or re- train, those wtho becorne disabled during theii employment Where an empltrfft becomes disabled. all effwts we made to try to ensu￿ the employee can continue In their current role ihrough adju5¢ments. Hoever. rf. due to tt specific ortumsts￿e$. thi5 is not PQ55ible. every effort wlll be made to provide retravi1￿ for thmive anploym￿t ¥Jitlun the Foundation. The Foundation remains sup￿￿rtI￿e gf ts emksoyment and aoknncement of disa￿ and en5ure5 its WOrr￿0n and recrultrnent pradices are fair and objthe. The Foundation encourages ihe continuotss d￿d0p￿nt and trainin8 of its empbyees and the probqsion of equal OPPMunities lor thetrairwn8 and career de¥eloFrnt of all empJLyees. The Foundation 15 comrnfttrd to erw8ir8 its employee5. A Variety of methods ¥e u5td to achieve this. 1ndLli￿ team meetinBs, Common Rotyn lylefir￿ and tyJr t7rt slaff reryesentstwt 8roup% the Teaching Staff Representati¥es and the Sukwrtstsff Represtiwves. These Gr¢xw Meetth￿timE5 a year ￿ththe Foundztion Chainnart and St￿ as a MeChan￿M by I￿h repres￿￿ can i$5ues armj ¢orferns directty thE govwmors. For 2021l22thi5appr0￿h be 5upplementedby staff eryagemertt committeesin eaths¢hool. wiwe stsff repres¢Mati￿ meet with the Ch•r ofthesd￿I Board to raise and 0￿US$ ideasand iss￿.

Gfftnvs.Re￿rt￿lFDW101Sf￿trnenIs FLyfy￿￿ethl5I A¥￿12021 The arr?ryrnents for settir#4 the pay and Telnunuatlon of tht chltrls man4erMnt personnel and any benchmark8 parameters ¢Y ¢rlteri• used in settir#J they pay ¥e detailed in note 8 In the note5 to the financial statemenl Teather5: The schools Paffjapats in a defined benefrts pe￿10Th stheme. the T&ichers' Penslon Scheme IEnglaftd and Walesl ITr Schem¥l, fty its te¥hI￿ stsff. It bs not ￿ible or approwiate to identify the assets and liab¥lities oftht 5ch•ne. triLXrt•b￿ to the 5ttrthl> The emplO￿r Contribubon rate fty trathers fty 202W21 wa$ 23.68% I1￿￿1¥re ? O.OB% •dmlntsvation tharBel 12019120 23.68%). The LThF4otre cont￿b￿lI￿ rates wied from 7.4% trj 11.rn Tr avera8e rate paid by LSF tea￿l￿Staff was9.Th. Thepen5lontharyeforttyearlndudes￿FobUO￿5p￿tye10the￿fvemeofÉ1S34oo0 12020 £2.49L(KI)I. The Foundati￿ ￿te&theT0￿Chw¥ Pwfjlon Sctrne on 31Aw5t 2021. NiTrT•theTr: The LSF Group Personal Pension Han 15 operated tyRryal London. ThtyensK￿ char8eft the year inchths contributions paya￿et0 Ihe persoftal penkn plarfj 01É454.CW. Fulurp Pla The ptarf for tt year. ve fOr￿lty by the Board in June 2021 arè as foll￿. Stabillty.. Fdl(wlw¥ tW0ye￿ of th5ruplion to tre of owxhod% to prvAdt a on the I1•￿0&￿ent of individ￿1 schod5during 2021122 and 2027123. Thts ￿11 Indude the dl￿10￿7￿{tsv lad and Sthool BO￿￿) d5th¢yol strat￿ Plon Toensurethat the Foundat1￿ un(rtakes a thwh searth and sele£th￿ processto Identfy and appoint a Head of Lou8hbtyffleh GrnmmarSth00l and erfjure5 and effecbb tran5itioD fr￿ Inttrkn Headmasier. during the interirn Trr. To ensure the FU￿dI￿On actstoaddress fthn¢i•l p￿ssUre5 xitoAsagreed 0$ parr ol the p95t. Covid re¢¢Mrystraiey. Fol0wlnEthedlfficu￿ woposalto withlrawfrom theTPS. the eoard b5 coThmltted to iden1ifyrf￿ and inW•nethiw to iTr¥Y￿ thè¥i5lbil￿xftd en8a8emeni ofthe Govemiry Bodywith an staff. TrTeacTr¥￿ W in eath sthool wll meet relulartywrith the Schod Board Chair. Fouftdation has a150 entered rntoa 4vnrecL¥nilron a8￿efftent with both P4ASUWT KI NEU. ￿ two ￿kn&hkh rffjresertthe8reatest nthnbersofteachin8 staff ithinthe Foundatlorfs School Embed rth15ed commfttee strKwre aThl rolesa8weed iheG0¥eMa￿e Revlewsuch that the newmodel isfiAtyoptsional ￿ Semwnljer 2021. En9Jfe the5chools arrfl FI￿ndation teirysit4e a¢thn to b￿ mfftdiverse IrKIu5r%

L4u%htxwh Schools Fowhthrto Strtt¥K R•port {¢ontsnu¢dJ The trustees are responsitAe fortht idèntification and management of the risks faced by the Foundation. includine the in(livwJual 5th0015. The day to day management of this requiwnÈnt is deleBated to the Firtance, Auditand Aisk Committee. Risks are idEntified arKI assessed: and contrc4s and Mnprwrnents are tstauished. W￿re p959ble. t¢ mitiwe the rlsk5. The tru51ees havea riskman¥ement wate￿￿￿Ch ¢¢m a diffe￿ntI10n be￿￿en strategic ar￿ opwationa riss.' clear man4ement and T￿teW responsibilities lor ¢p￿tiOnal arJ strawc risks. wth fwst Ilne and second rewew Te5ponsstxlities ￿entified and ryEed; temily review of all risk5 by the Executive IOpev3tiona Ri5kl aThJ Firt￿￿ Audit arnl Rfyk ComrThttee Istratewc ￿"SkI: clear mechaniyn l0rthee￿atitsrt ofiisls to the Go4trrir Body: the est8￿•ShMent of polics. svstems and io mityte those risks identified. and the implem¢nMion of W¢Kedures de5ened to minNnise or manage arty potentlal nnpact on the ¢harlty should those risk materialise. TheTFUStee5youp risks I￿0￿￿¢¢8￿]es". Governan￿-thoS¢rISkS whlth may ¥isefrom the directiw dt05ion making ¢xcontrolenvironmeTht For example. the risk that governor5 or those (harled management may take a risk outside of their authorfty. C47nirols include tre Foundation's sty•teey. inftyms detiyon makiw an established 8overnance Str￿ture and a dear distinrtion between gly￿￿￿¢ and executive managemwt. Re8ulatory- tlese are risks Thith rdate io mket and envtyonmtnt in which thè Foundation operates and 7•thich may infiueft￿ our stsket¢(4das andlor the Foundation's business model lè.B. èny change in req￿alOry enironmtntl. To rnawe r￿kS in this are4 the Foundation has established mechanismstoanalyse forecasts ofwential charw in thetharitabIeandeducat￿n seaors, with the aim of anr1cip3tl￿1e8L43t￿ tharee and imklwnentiw any rni1wl￿ adiors. FIna￿la1- those risks wthh relate io TrrKorne and expenditure aTh4 may impa¢t FouThtatiorfs fin•ncial 5UStalnability. Tomanagetheserth the F￿ndati(￿ has est3￿1$hed a Ioyear financial foreca5tin8 model, which enatdes it to ihe impart of any charees to its irfwe or ￿pendi￿￿e and take appropriate arti4rL Reputational- rlsks to the reputation of Foundation may arise from the defisions and actygns of the Foundation. those employed by IL or wpt15 at its xhoots. Shuld a reputational risk arise it coukd have an irnmethate or kn8-ierm impxr ty¥ puFil n￿nb￿s. and thereftre the Foundatiorfs finances. To man¥e these rlsks the T1￿￿te$ have wt in slate apprwote pokfje5 arrtl o¥vy8ht methanism& intludin8 lor academit quality and safe8uardin& Oper3tlonal-th¢>se risks arisirefr¢m dtyto * ¢jperatiO￿01the F￿ndItion and its Sthods. and u5ualty related to an actfvity vthsch tannot be avoided le.& security. health and safety). These risks therefove Tequiie actl¥e )d onoirgcontrd tythe exe¢utl¥e and othtr managers. Each risk Identified 1$ owntil by a speiified member of the exe¢ubve and rnonbic¢ed on an ofi-8ty￿ basis ty t￿)Se thaoed with mana8emenL These ii5ks aR man4ed ensurin8accTeditatTrtill 15 UP to thte. haviry rotrAt polic￿5 arnl procedures In place. and reBular traini￿ for staff working in these operèiional areas. Separately dull￿ 2020121 Tfu5tees devoted spetific atteniiort to the reputational and financia risks arising from the industrial attion by teaching Maff at LoWbcfou8h Grammar Scl¥)ol. It has made all necessary regulatory dlsclosures tothe Charity Commission. 14

GOYnkw¥'Re￿l1￿￿F￿￿￿￿ls&7￿ttwRl FwthtJwen&d31 A¥￿1 2021 Ouf comrnunitymustaWkn)k tXrt￿dId5 andsupptrtowwidertornmwxtye5. While the natknal restrfj¢UoA5 imposed ir¢ response to thepandernic cwthiled some planned acthitles It also wesented rw opportunllbè5for our sch(th. pupils aThl staff to seM the wider coo¥nur4ty. .The ¢(￿mI that o%n￿le￿ with the thrty Sectlon 4 of thè a￿lI1e$ Art 2(X)6 to ha¥è due reg3rd to berbefit ￿￿15￿ ￿ the Chiti CoMr￿ssI￿) In ￿ter￿￿1￿ tre atll¥lOes undertaken by the Charity. The rayofthe r41ty. whkh is definod as pd>k btnefitis asfollm.. The G¢J¥ernors are conscious of the tsadition ofcharitable pfobislon, knthe fomi of trNsarles on ihe part of the LOugh￿O￿8h Foundation aThJ have mlirtsi￿1 the stat4f5 qULI. These awards are ffin•￿ed main￿r thrO￿h gral fee irtcffje. holfftv thls is •wnented ty the Ir1￿tt0 annual rwew, and meanste51inB. A further 43 pupls ve 0 mea￿te5d ffftantièj assostsnce in hardship bursarles amounting to £151,LNJQ This assimance was awarded in tircwnstance5 in tthich it w•$ believed that the ist•rt¢e ¢otsld be requwed for kn than 12 mt)ths. aiitrwh on many occasfjcfft8 a I0￿er period of tlrne h45 pro￿d rttessary. A relatr¥elyhp8h wopwtioRof thesepupjls haveatsobeenAiventotal fee rwniS51￿. This number is intye¥sed the F>rthir￿ ￿. relleclirythe ¢onOrwJed bmpa¢t of the lockdovm on t f￿?￿131 dr￿MSta￿e$ of tyJrf4ff•ht> £55.oxI of the abtht harfshlp award5 wTh4ded knrnediats aThJ short tem) for 23 wpls of f3rr&lies whose in¢tsw We￿ affected ty the ParthM￿ £44.OtKI ofthi5 wa$fil￿ddecty ty dOna￿On5 math to the'Cornpleti￿ Fun¢r. Part of the firtarKial assistrrKe prrylded bDth to those on lue-tffm and 5hkvt.term Foundation &4rsarles irKluded assistance toards Induding tran5pLYtat¥onand school unllomi. Addiltonalty. zfvrthtt£12,(AXlwasa￿NIed ￿thef0￿1 offinal￿Z$S1rt•neettlaIlheab1￿ePUPl7Sfro￿ desiBnated beqwtfunds. The fwdures whith hwe been quoted In the we(dir6 p•t ofttms sttfjon ￿ the thrert rosts ol fl￿ntIaL assistsnce on a mean5-ttsted bw to pupils: theseures do not Indude the stgnificant costs of thèmanagementtime ¥arious1th￿￿ofdeèknry 4%Ththand w0￿￿1r￿lI wards. orthe¢ostoftar8eted erknsin8 vha¢h ihms t05Umul apWKatson$frthm thoseth￿> are eligible. Thetotal am¢xmtalmean>testeds6lance w•s£L278.(W. Trisa55iStar wasmadeavallable to &22%ofthe pupds and repr￿ts v4eral 438% oftr w11lonf￿ Income.

GoYemys'Rew1a￿F￿J￿{￿lst0￿rfs ForiJ Karendvdjl Av£uri20?1 Strate8K Report I(￿tinUe￿j In adthtion to means tested as¥Stan￿. the FoundatiM also makes a Imnited amount of fvnds available to rec(8ntse its stholar5. The total anount of assistsft￿ Imeans tested aThl scholarshtps cixmbinedl, exdudift8 staff fee rernisslon. expended duriry tl yearwa5 £L38&CiXJ. Th￿ rewesents4.75%of the DJitson fee lrfome. Edu¢atlon•l The Foundation hè5 continued this year to widen its educational resources and facilibes. tsy brin8in8 i1￿ePendent and state sth¢)rA ¢ommthtses t¢yher. Arnher5tkhod cwwnued its ¢wtrathwtykryth altyals¢tondaryschLTh)ItoldenthVear Ilpupits %tho may benefit fonn the educatiortal and co-turrialar arti¥ities of the 5thoS, bjt who otheYwi5e would noi be a￿t tts afford the fees. As a result of this (xrtreach a rNmber ol pupils h>e recved ffianual supwt ￿lOwlre them to ènend the Schoof5 Sixth fonn. and hm athiEvedCO￿M4•r1tye su¢(ess. indulti￿ up plxes * we5tyl¢y5 uni¥eryitie5. Our commitmeni to ￿arnIng extends ond pupLs th attend our schools. The Foundatlon supports eduCatiu￿1 inittatives In a n￿ber of local 5chod& We telle¥e this intertharfe $5 Mutual￿ benelkial proihdlng opportunitie5 fot an extharge ol ideas betvfftrt our staff d Ihose 7wtykin8 in local sthoois, and for our pupi15 to mix, learn and work èl(Myide pupils sthoc4% develop their •areness of the widef community In whith they live. Though these activit"e5 were limited 2020121 ty Co¥KI re5trKtiOn5 in our 5thool community. th05e Schools we would work wth. Amhefstschod was deliehtrdto wekomed puy15 from local primary schools to the annual debatin8 day. Part of ihi5 evait in￿ded in debatyr8 frrttn Amherst Sthod staff In advaNe of the event. As the truAees of an educatlon chadty. Gobtmtrs retognlse the importanct of sh3rire not onty our phy￿C31 re5tyJr¢es. tsjt 3150 the expertise and experience of ow strff. to supp)rt local ¥ho01s bd other ¢wni5ation& In addition to the many rnasterclasses and other ed￿ationaL aai¥iti¢S detivered teaching staff and pupd5 at the sen¢or sch￿15, the FoUrKI￿10Tr supports Its Staff in sUp￿t to other 5¢h¢)015 and organisation. These actiiities indudesupporrin6teacl￿s in loca15choolsand ￿PP￿tir￿thede¥e1opWntQI new teachersand teaching $51stsnts. Thi5 approKh to partnership Tw0th￿waS refittted In other aspÈtts of ow W¢rk dwiry 2020121, Indudin8'. PGCE students - a nurnber of U￿ver5111es ve slJPPOrted to undertake plxanents at our sthools. Thls requi￿$ a commrlmrt of time to sUp￿rt those trainty and to repDrt as required by the placement proBrnmme. Teachlng apprentices.. The Foundatson's Swt DeptmenL sUp￿rted bystsfl at Lots8hb￿h Gr3mm¥ School. Successf￿ly SUpp￿ted an apprentKe PE teather thro￿ the f¢>Trnal qualrficion to achteve qualified teathin8 5tatU5 while tsenefit1￿ from the hand5 on eXperIe￿e of workirs in our schwls. Thls programme will be coniinuedin tt 202Y22 a¢addnKye¥. A number of teachirg and support stsff are supported by Foundabon to bt$ovtrnors at local s¢hod5. The Foundation allow5 them tbme to fulfil their duts. As part of INS commiknent to yJpportin8 the overnanceof otlr schools the Head fAPrepaTrtoryat whbor0￿h Amtrerststhool is 5UPPQrted bythe schod in her rc4eas Fourtdaiion Director ai the St Ralph Shwwn mdti-pL￿etNYTrusL 16

Fortht)Yoren&d31 A¥￿12021 L5F is a well-ea￿lshed ￿ of cornmw of LO￿ts￿h and Leke5￿￿1￿ and fIthe￿ the FOUr￿atIon caftsupportothwpwtsofthetthThM￿tty. itisdel¥htediodoso. LSF ¢ortributesfa¢llltses arnl expertlse in the area Musk De5Vte thnts and bel￿Or￿eNedd￿l￿8 tr pantsrlc the Muslc departsnentrWe￿ dell8htedto be able to pro¥ide suppryt to Rainbm Howtt on4ine (hristiNs tMcrt. Throughout theyear. LSF made 5ts8vThwthandfvdHiies avaHabfreeof chaww tOIL￿ 8roups soctses and lttal tharities, many on a kly basi& In 2020121 these I￿uded. Qu¢)m Football OubJuniN5". foo￿411 ptthes fortraIr￿ng and matctrs L￿￿hboro￿hT0￿ Qi£ket.. Prttts at LGS and Quom fw matshes LouKhborwth Urriver5tty. AuÉby.' Tournament•nd srflal. (awt rth pltches and pa¥fjliorn L￿￿b￿£h BadThynion aubljunltysl: LGS Swrt5 H ArmyReserves: LGS Sp(Yts Hall. Use 5e¢urity. caretakn.ng and e4ent $￿p￿t It itsown ￿5t.. Tom FIots Cricketcamp: Holt ctyrn LGS Sports Hal. LAMOA Ews.. Reot¥l Hall LSF i5committed toen5win8thatas￿l as pl￿￿ngacIdemited￿ca1l0n, ourpu￿"ts leamthe inF4Xtan¢eof ￿a￿ng yosityve fole In thelr (￿nunity. To this erKI. ¥R prty4Trde mary ¢pportunitie5 for staff and students toeniage In ¥olunt3ry role wrfihin ther￿Munity. irJwJiwwith 5coulir% •ndGirt Guldir% Units. stude[￿ from all three Senlor Schools yticlpate in the sthoofs ¥oluntwy ser¥i¢ UDIL ￿pP￿tI￿ I￿1 Or￿ls￿l¢>Th These acttvities were limlted the ￿r. due to rewi¢fjth)s on t4b5its to Ca￿ homes and otlr sthoo Governors were Pa￿ pr¢xK1 of thè LHS Studlnt who the training rtqured to >Jmirrister CovSd Our schods ho￿ units of Rainly)ws. Gudes and Sc041ts. Supported 5taff• puplls and P￿nts Charabl• Dmalkrn•MI FuThdralsk As well as of tifi. wwls at our fam¥ ol sclKx4s are 5trth én8a8Èd In futhJsSrs for a ￿de ¥7rfety of Causes. and undÈrstand that thelrefforts helpt0th3￿ the li¥es ofmany PeoP￿of1￿ ages WI￿ are lessfotnmats than themsew be￿rfat0ur P￿paNt￿lSCho0f%t￿lth ouryouwyt¢tal&en monqfor local, national and international uuses fvou8h a wiety of P￿1&$ from a¢r055 the Fo￿￿oft ralsed ElQ784 thTou8h a variety ofevents induLln8 notrunrfomi do% bake sales. and ¢￿petitil￿ Amher Falrfield Prep GraFT￿OrsChOol The Htgh Sthwl £1.647 Q162 £6,975 £6.OCII 17

Goven￿, ReprtatyFXrtO￿￿I5lthmtrf Ftyrtlw em&d31 Avgusi 2n21 Stratry ￿e￿rt (contlnuedj Within t￿senIOr schools. acbvities are led ￿ a dedic￿teaM of Seniw Chwity PTefert> Senior pupils in all three sthools supportthecolltttionanddstributli￿ offooditemsdonated ￿pupIlsata11f0ur5(hQols￿ahèrvesÉfeSibVOls and other events to local c(thm￿ltyRrQ￿pS i￿1￿￿1￿ ProFd %KKI. The 8widBe ProiecL The Carpenter5 Arm5 and the 5alvalon Army. Although the continued Covid reStrI￿On$ £urtJ"led mary acbrn. ¢xr puyls continued to demonstrate their generO￿ty in gvin801 theirtime. thlls and morw. Of p3rtiUblar Th)tewasthe F?itheld Pupl who cornpiled a book. the proceeds from thesale ofttr4swwe d¢)nated to Rainbtsws Hospice. E¢ remalned in Leice￿ershIre. ith zn esiimated 97.1% remainir¥ in the East Mldland5. We support local bU￿￿sseS. Ahhough redLKed bythe clowre of schods in Jartu¥y 2021. in 2020121 our totsl direct spend was circa £6.58 rr¥llort IE&97 mdlion in 20191201, of wlDch £14 Nmllbon wa5 spent in the East Midlands econorny. We estirn•le that in pro¥idH¥ an e￿￿￿ttOn to rng￿ than 1239 k￿1 (hil¢tren. the exchequer collectWy sav¢ more than £10.4 mil&ofi a ￿ar which it t￿Id otherwise cost to eth¢ate those children in local ￿OI￿taIned school5. Stttitin inst¥tÈrn• TheTrustees acte(t in a wayin¥thKh CO￿lder. in 8ood fath woM￿d the 5wces5 of theFoundation for the benefit ofall beneficiaries and ideT 5takehokler grou￿. The in thty hm done this are desuiLEd èn further detail throL4houtthis reF#yLspectficaKv.' siaktholder Employees Pa8e li BeneficiaTies Pa8e 10 IkademK Rep%tl and Page 13 I"Financial Assistano") Commurxty Pa8e$ 14-171"PuLqk Benefrfl Economic Pages 17.181"E¢onomlc ImpKri

strateW¢ Ileport fcontinuedj Carbon Report UK GreffihtyJSeias•nl￿th use dats th>rthe perlod I Sept••thr2020to31 ￿l￿$t 2021 2020ni EneT8yconswnption used tt>calcu13te emissK>ns Iv•Th} 6,69&388 Energy ctytsumption breakdown IklfyThl :. 4,467.562 2.184.082 46,744 eledricity tran5pM fud Scow l emi$5ions in rnetrit tonnt5 C02e Ga5 ¢0nsumptJn (MfnedtranSport-m￿l-￿ses L522.37 Tolalscope I 29.06 Scope 2 emr55ion5 in metrictonne5 C02e Purtha5ed electrioty 500.82 Scope 3 emi5g¢ns in rnetric ton￿5 C02e Business travel in emFloyee 0￿ed hides TotalgfOSS emission5 in metric tonnes C02e 2,030.96 Intensilyratioronnes C02e per wpil 0.91 We have fdlowed the 2019 GowMnt Envirorffiental Guidelines. We have a￿0 used the GHG Reporting Protocol-corpofate sta￿rd and ha4eused the 20XIUK GO¥er￿ent'S Con¥ersi¢Jn Factors Cornpany Reporfin8. The chosen intensityrneasurementratio ts to￿ 8r¢xs emissions inrnètri¢ tryintsC02e pèr wwl. the ￿((￿rnended tio for the sectof. Measurestsken to lrnpm erffjy e￿￿¥ We have installed ynart meier5 across all 51tes and increzsed bideo conferen¢in8 tethioloy to facilltate staff to work frcyn hrne and not travel to t•mrk for meelirgs. d by the Bo¥d 9 Dew)ber 2021 aNI 4ned its behalf ty". 51rTr*bwSo (hairnzn 19

Fwi&yttsrendtdJl AUS￿%1 21}21 Tru5tee< reswsthifrtiesslaoemert The trustee5 (wh) are also diretttys of LNWbNough S¢lx)ols ￿ndatI0ft for the purposes of company lawl are re5por6ible for p￿ParingIheGo￿nty( Afftnual Report indudingtheStrategK ReporL and the financial statwnents in accordan￿ appIl￿ble law and United ￿n8d￿l k<ountir Standards (United Kiwm Generally Accepted Accwntin8 Pratticel. Company law requires thetyusteesiopreparefinanoal statementsforeachfinancial year.thlch 8i¥ea trueandfair view of the State of affairs of the charitsble company and of the incornin8 resour￿5 and aP￿1¢3ti0n Df resources. ind￿11￿ the intome and exwbditure, of the tharitable company for that pemd. In prewlng flnancial Stoternent¥ the trustees e required to.. select suitatAe accounti￿ pdkiesand then aPp￿1th￿￿ consi5tenthr. observe thè methods Wirti￿e$lTh tharities SORP 2019 IFRS 1021: rnakejud8ernentsand estimates that are reasonable and prndent State vthether appli¢e UKk¢ountin8Stèndards have been foll0v￿d. subFrtto alry materlal departure5 diKlosed and e4)lained in tre finanoal #atements. Prepare the finanaal 5taements on the going corKem it is inappropriate to wewme that t chari¢able¢ompary will continue in c4Jeratro The trusteesare responyblefor adeguatea¢¢owtiie rrtordsthat disd05e reasonal￿t xcuracy aranv time the fiNn¢ial p05iti¢)n of the charitat4e ccmparry and enable theffl io enswe that the flnandal ￿ateMentS comply vAth tr Compans Aet 2¢)J6. They are also reSpo￿bIe far Safeg￿rdIng the assets C+f the thariiable company and hence ftytakirt8 reasonable step5for the pre¥tfttion ar￿ detertion of fraud and other irre8u1￿￿tseS. In sofar a5 the Irustttsaie aware: there Is no relwit auditinformatson of*¥ththe thantsblè ccffipanrfs auditNis unaware.. and the trumees hast taken al steps that tlw wghtto have tsken to make themseKts awareof ary relevant auditi￿OrMall￿ and io ettaklish that the ¥u¢lircr ￿ awareof th•tinlomialh The trustses are responsib￿ for the mabntenar<e and ol ￿ ¢orwate and financial inforrnatyon i￿luded on the charitable tompanies we￿te. Le8i51atiors in the umed Kingdom 8ovemin8 the Frepar3tion and dissemination may ¢ffef from legislatson in otkwNWis&rti￿$. 21

OplTrion We have aulknd thefinanclal statementsof iouthknw¢x¥hsdK￿ Foundioftllhecomparf}and ltssubsidiarles l-thegroup-l ILY theyear ended 31 August 2021 thith (￿pI[se ConsollaiedStatemenl ofFJnandalArtlvlOes, the Conscthdated and P¥ent c￿panY Sleis the Cashfflow Statement and the related ￿ Indudin8 a summary of wifftani accounting ￿tse$. Tl ffin¥ffl￿ repy11￿ framework has been op￿led in trlr Preparati￿ is applicab law a￿1 United Acc￿ntIng StsNlwds Iunlted ￿ngdoM Generally kcepted A¢counting Pradicel indudir Finaxial RepJrtin8 Standd 102 Tr fin¥ual Reportrq Stsnd¥d applicable in the UK and Repubk of Ifeland. and the Chari￿ SORP 2019. In our opinion. the finarKial 5tatwnents". a true and fr iièw of the stste of the Brt￿￿5 arml the went tharilable companWs affalrs is at 31 A¥gust 2021 of the inctynrt resour¢es and apk4Katlon of resow¢e¥ indu&irq Income and expEnditie. fortheyew ended: have been proptttyprepared in acctyda￿ ith United KI￿￿￿GenerallY￿￿ I￿o￿ntIng Practice. have been prepared in ￿ante￿1th reg￿rements ofthE compan￿$￿t 2tM)6. 8ash for t)knlo We conducted our inaccwdm ith Snwnafjonal St¥ndard5 on AudltlnglUKI IISASIWI and appllcable law. Our reSpOn￿bIlltles undef Ihtre standards ¥efitrr des¢ribed in a￿to¢S responsibilitlesfof the audit of the finantsal statements sectm ol our repwL We are independent ol company in ￿CC￿daTr￿ Wilh the ethkal requirements that are relevant to our a￿￿1 of the fina￿41 statements in the UL including the FRCS Ethical Stsndard, and wth￿f￿￿11ed ourotheretlica re5PLm%hlitie5in ￿t￿rdancv•7ththQSere4UI￿rnefits. We bd that the3￿￿1 have obtaned is suffK1￿I and apprgpri•teto wo¥ide a ba5i5for our opiniDn. In auditin8 Ihe finarKi4 staternents. we conduded th•t the Trusttt¢ w of thè corK¢rn basis of accounting in the wewation of the financial siatffnents is appropriate. Based on the we have Perfo￿￿ed. have not identified ￿ materkf uncutsirfies rel•t6ry to thents ar condilion5 that Indi￿ual￿ or couertivety. may Ca￿ 4nifi(3nt ¢loLatston the Foundation¥ •bl￿ty ltsCQThtinue as a ¢01￿ torttrn for a i￿10d ofat least fr(Th when the finial ststrments are authorlsed for i$54¢e. Our reSP￿S•bIlItieS and the reSp￿tsibIli￿ of ttTrwtees4th resptt to 8oinB c<¥Kem are destribed in the relevant sectionsof this repxL Thegovernots are responsitsle fortheother information. Tr otherirtirrhali￿ combxises Ihe Inf(Ymatlon i￿lUd￿j In the Go¥emor< rewL <xher than the ffinarxlal St3teTh￿ts and wdit rewt th2reon. Our opinlon on the finanual stat￿ertts does not ower the othv irf0Mat￿ and, except to the exw othemse ex￿1¢It￿ stated In our report wedonotexwe55 anyform ef assurcè tthKlusion Ihwe In twnedon wlth ¢)ur audlt of the finarKial Stateffle￿. our respon5itslity15 to read the othLY Infcymation and, in doing so. consider Wrt￿ tht other énfmation ts maortally l￿￿$151ent wlth the finandal 5taternents or our knowledse obtained In the audit or othvwise appews to be materially miststed If w id￿tify such materlal incon5iStencies or appamt material m1sslatem￿ts. ￿ are reqwred tg detwmine W￿ther there Is a material mi55tatement in Ihefinandal Siatements or amaterlal misststemerf olthe otr￿r Informadon. If. b05ed on the work we have Ferfrymed we condude tkwe is a maknial mb55tatement ol tr¥s other inftYm*i(n we are req￿red to reportthat fact We ha¥e to repthtlnthis ro8arf. 22

In our opinion, based on the work ￿keft in tl t￿r5e0f tr audtt: the infornation w¥en ¢Th the Governorf P£port (Incorporati￿ the StraiegK Repgrt) lor the financial year for which t￿rInancIal ststernents are prepared is consistent thefinanual statements: ar%J the Governors. Report and Strateeic Tl?port ha been wepared in a¢coTdaft￿ with apF4icable legal requlrements. In the light of ow knty4e¢ge ofthe and parent chafitsble ¢offip￿ and its environment obtalned Sn the course 0ftreat￿L hwe not identified Materi￿ mt55tst•)ientsinthe G¢74trnor< ￿pOrt and the Strategc Rep We have nothin8 to reportin resFertof thef0ll0ry￿ matters in relatlon towlAth the CompaniesAct2006 requbres U5 to report to you if. in ouropiiion.. adequaie aCcoun￿re records have been kept by the pareftt cwpany. or ￿tt￿S adequate for our audii have not been re￿Il￿d frryn i¥anches nOt￿￿ted by u5,. or the parent Charitable companrfs finarKial ststements are not in agreefflent with the accounrire r￿ardS and returns. or certain dixlosures of governorf Temuntratioll 5petifd lry law are notrnade.. or we havè notrecwed all the infonnation and èxpknationswe rtque fty our audit As ExplainEd more fulEy in the Statement of T￿￿￿. Res￿￿511Xl1t•e5 set out on page 2L the BovemoTS Iwho are atso the dirertors of tle charitable company for the purpws of company law> ¥e respoD9ble fN ihe preparation of the finanual statements and for tieing Satisfied that th•T gNe a and I￿r •mew. and for su¢h irtemal control asthegoverntys detemilneisnece55arytoenablptheweparaiion offuww15tatemtntsthatzre frttfrom material mlsstatemenL whwherdue to fraud or errar. In prepari￿the￿nan¢ll statements, theBomtys ¥e re4>ons{￿e fty •ssesgng thegrow, and tompanrfs ability to continue as a going concern. disdosirs as app1Kab￿, mattus felated ro 8oirg cottem and USiNd the going concern basis of accouniinK unlw the 8¢)¥￿00r5 either irttend to knquidate tht youp w the company or to Trase opeMion% orhave no reallrtk tematib butio do s Auditorfs rwon5￿11tieS￿th•￿l1l￿thvr￿n￿lst•1o Our (J'ertives ¥e to obtain rEa54Thble a$sura￿e th￿herther￿aftC1aI ststements as a whc4e ¥e free from material mlsstatement. whetror to fra￿j or error, and to an Auditorf5 that includes our opfjnlon. Reasonable assurance is a ly8h level of assuran￿. bjt Trs not a guarantee that an audit COh¢knted in accordance wlth 15As IUXI will aK¥ays detrct a material mis8tr4ternent Then it exists. Mis5tstements can arise from fraud or error aryl we congdered matu1 if. indmdualty or tn the aggregate. they could reasonatly be expected to infiueKe the ecorKmic deo&¢)ns Lrf users tsken on the ba515 of thesefinancial siatements. Irregularities. includingfraud, are i￿arKe$Of noA-CLThpliartewith iawsandregulatiorts. Wedt5ign Ffocedures in line wlth our re5pon￿M.1Itses. rArfined abokt. to detect material misstatements in re5pert of irregularities. Including fraud. extent to whith our w¢tedure5 we wable of detecti￿ irwlarlties. Includi￿ frau4 Is detsI￿d ￿low.. Our assessment focussed on •nd re8ulaiion5 iht Foundation has to compty and areas of the financial statements we assessed as b"ng mcrfe Su$￿p￿tIe to misstatement These k* laws and regulation5 included bLrt were not liNMted to cL¥npliarKe ￿ththe Qyxpanie5 Art XTh. Charlties kt 2011, taxatlon le￿￿atiOn. data protectitiA. •ntblKibtyy and effl￿ent legs￿3110￿.

We ¥e not responsible fty kYe¥wtiryd Kreg￿￿1￿e$, fraud. apPr￿￿h tt> detectln8 iffeglhlaritits. Intknfir% fra￿ Ind￿j& butwas Mt Imited w the folknAy". obtailm￿ an wdtrst3nth￿ ol the and re8ulatory fram•¥ryk apph'¢aWe to the Fotsndatfon and how the Foundation is complyiThJ wrth that framewort irKludry a8reement of financial statement dlscloswes to undWlwrEdoc￿entatr0fi and other e11de￿e. ainiry an under5tan(fire ( the Fo￿d4￿0￿5 tontrol tiwir•Mient aTh h¢Mf the Fo￿￿3t10n has arvlled relevant control wocedw4 tlYoW dtscu5slons with Tfu5tee5 and other rnanagement and perfomiin8 aIkfv0￿ testbryV4V kof rns. obtainiry an Unders￿￿￿of￿￿ FouThJaly)'5 ri5k•55esynent irt1udl￿tht risk of frau￿. pufrym1￿ a￿1 terti￿ to atldrtss the rfisk of tyvride of c¢mtrols. testinB j¢yumal ntrTs and other adiustsnents apyowiatew evam￿li￿ the busJrss rationale of Si8nbfi¢ant tyar¥aoions outside the nom1 course ot and reviewiD8 KrtsurfinKellimate5 for bias. Whilst COn￿d￿lre how our a￿lIt T•rtxk addre51 ts <kte£kn d Irre8ulariW we also Considered tre likdihood tsf detection of fraud based on our woaclk lryeBulalde5 ¥15ir¥ from (Twd are inherently more thfficult todetert than those ￿$1￿tr￿n wr+X. Because otthe irthereni ￿m￿atIonS of an ayrfrt there Is a thatwe wll not ddert all Irre8ularitle4 Indudw those leadin8 to a material misst3tvnent in the financial siatemerrts or n1m-C￿FIlartce with r8ulation. This sk increases more that rompli•no with a law or re8uLatlon 15 from tr events and transactions refiected in finaria Statern￿ as wlll be kn Skely to be¢ome aware of InMance5 of non-compliance. The risk 15 a150 8reater reyrtryd Irregul¥ltses occuffiry due to fraud rnther than wror. 85 fraud OrNol¥ iDtertiMal ¢on¢ealmenL for8w. collusth ¢JmbSSlon of m1yepres￿lwrL A further description of our ￿5p￿#bIllIeS fLY the autht of the finanual statements is located on the Financial Reportsng Coun•l's web4te at. TA¥W.frc.u&uVzuthtwsrworfibilities.This desm"Pllon forrns part of our A￿j(tar$, ￿p￿t. Use oloyrrwt Thisreportismade soktyto the th¥itable ¢rynparfs M￿T$, a5a boty.ln a¢cudIn￿￿&ith Chaptw 3 ofPart 16 ofthe CompanlesArt2CIK Ourwdit lthhasbeen underf¥ken sothaiweml8htsiatetothetharitable romparfs member5 thtsse mattws we are requSred to state to in an audrtorfs rewt and for no other purpose. To the fullest perrnitted by law. we do not accept or assume respoTEsibility to anY￿e Ot￿ than the charitable CLNnpany and the charitable comparrfs M￿be1$ as a I￿, fLY autht thrs reprt Of for the oplnlons we hz% fomied. Slmon Atkln Fw aThl M behalf of: Date: ? I Statutory Auditots v Wfftv. Ai8w Road. East MithandsAlrwL Casde 0￿￿¢1Th. Dertrl. OE74 Z94 24

Lwzhlwou8h SroDIs Fowthii G0wrTh￿. REP￿0￿d￿￿kw￿l0ls1thrn￿nlS Forth)Ww¢Aded31.4¥g￿E2o2l fOrthe￿fended 31 2021 2021 Totsi 2020 Total hJThds Donatlon5 and gad¢s Olher¢r•jWryacti￿￿5 %stfflents Charitle•cpAb¢s iii 523 295 123 30.049 133 57 L142 29.876 45 3UII8 X).525 LJIO Railnifvnds.. Fin•nan8 costs TAdiwoPri￿9 395 222 29m3 L268 L184 31.150 1,268 31.462 In ILia41 17761 G•inllLLssI ws¢rfjmwvneffj5 16) G31nni(4sI 613 191> 172 18731 In 15141 18731 TotaifundsbrTh4lrtfoThHrd 12393 50.429 565 5255 49 67.735 67.787 All inLvrrMr¥ rEsourre5•nd re5ourceseyThJeddthEfrtynoi￿￿nl cpratio Th? 5l•temertofFln￿Oal kliwbesirtludt5 allpinswJ17SWfetoyW in tht ￿￿T. The nLXeS tffl p4es30to SZformwrtolthe*financlal Smel￿ 25

GmYYw¥' Rewi andFinoKiolStstsP￿ttlS Foptht)wenrfgd31 AugMu2021 th yewerfd8d31 Ayowt2021 2020 In¢cfftefrthi chitsble ￿l￿ed arti¥ille5 31.174 295 123 Gn on Sa￿ din￿lmenta$Sets Expenrfrture on tharitableac¥vities IX)078) 128,9921 Expenthturn on non95) 12221 Interest payaLqe 11351 1901 Total lftthefeporttsyptrk 131.6211 130.2501 Adetaled an•ty5is ofthe subsiths' trathngrtsults a￿set￿rtIn Oetaledanatyss ofthe ex￿￿11￿ Is wo¥th4ed lntheststem￿0f finarjual Ktv•bes and note9. The5￿Mary incomeand exwrflitureac¢ountexdudesendowed fundsand unrealisedBnsll1055esl in ac£ordart¢e with Companies Art 2W6. Ttre accwnt is ¢ri¥ed from the 5tstunent of financial aCt￿[DeS on p4e 25 whsth together with the note5 to the ffinanrial 5tatw￿ts prowde5 infmtith ¢>n the m4Mment dwin8 the year ¢)f the fund5 olthe 8r¢wp. The notes on p38e$ 30to 52 fonn ￿ ofthesefmana4 sta*ment& 26

Low8lJl¥rotrgliSclt&)Is FAlp)d￿[0 GoiYrnDfS' Rep￿ For I1￿ w•reithdjl.4iig￿l ?Q?I Corwlidated baknte Sheet at ￿ Au9USt1021 Note 20Zi 2020 Flxed assets Tawble assets ln￿trnentS io li 67.$01 4.145 nA15 71.646 Current•u•ts Stock Debtor5 Cath at bad( ar¥1 in haThl 302 1.244 4.590 13 536 6.391 6.136 LIablI￿les. fal￿￿￿Je¥￿thlftr Credstors 14 ,A851 13.5681 I024 Totsl as%￿5 cwr•)t li•blN¢ies 73.419 74.214 LTreditots: anwxmts fallw¥ afterffw>re than on¢ ye¥ 15.3161 16.4271 pro¥151ons lor IlablHtles Promsions J6 67,787 FyThls Endowed funds Restricted income lunds Unrestricted income funds 49.915 5,25S SQ.429 4.965 12,393 18. 19 18 Totsl fvhds 67.73S 67.787 The flnan behalf ts were apyowl the board of th"recttys ffi CP3 Oecember 2021 and We￿ s%r*d on ils Chowmon J W Dohertv ChielOperotis%J Offkerondco nysecrrtory Company ￿e￿stered number-. 4038033 The notes on page5 30 to 52 form part of these financial statement& 27

ihr ￿ar￿AdEd31.4￿gM%l 2n21 a￿litable l>aLinc sheet al 31 Awqu5t2021 1020 Tar¥b￿ assets Investments io li 67N94 4.145 71.639 45 1.537 4,478 Debtt¥s Cash at bankand in har#J 13 743 6311 7J02 Llabililies am¢u)ts fafmg •e Creditors 14 13.4851 033 2.S75 Totsl assets kn tuyvont liabilitios nA39 74.214 than ¢)n• year 15 153161 16,4271 PrnThl¢Jns for N•bllltles Pro¥isions 16 13881 67.735 67.787 Funds Endowedfvnds Restricted incomtfvnds Unre51ricted incom￿ fvnds 18 ia19 49J15 50.429 4.965 12.393 Total fvnds 67.735 67.787 The finanoal st it5 behalf by. ements thye zpprv4d ￿ tht board of director5 on LV) Detember 2021 and were signed on Adml Clwi I W Dohtrty (￿￿oPer0￿ng 01fter0￿4 C(Jnwu reto Company rwstefed number.. 4038033 The note5 on p3ge5 30 to 52 f(xm part of these finaNial statements. 28

Govrnors'RtwTa￿FiIo￿l￿&aie￿lel[ts Foril¥ ¢AdedS1 Ayi2QYI fvrtheyearended31 A¥owt1021 2020 £oco Note Notcashhw lusedVprth4d•d 13941 Purthase of property. ￿ant equikynent Purthase of investmeftts Pr¢Xeed5fr￿ sale ofinvesvnents Dividends, inte￿1 and rents rectived from in¥estrT IL0931 11.8301 16691 576 123 li li L925 11,8th)1 Repayment of Ilnance leases New loan (U41 11241 5.000 NÈI lenerated (J24} 4.876 Change in cash •Thl rath equhalertsln the rep￿l￿perIL 1682 Cash and cash equivaltr￿ atthè brynnirq ofthe ￿P¢￿"￿￿r 1,908 Cash and osh equl¥alents atthe end of the repornngyear 391 4.590 The nce5 on pa8e$ 30 to 52 fofm M ofttWffina￿iaj stsrnenr

Fortht)weThltd31 A4￿3021 Note5 Loughbc¢ou8h Schod5 FoundatO¢M is a limited ty guarantee arKI is inctypL¥rated and domrdled Fn the Un4ted Kjngdom. The addre55 of tr registe￿d Offi￿ IsgI¥￿ in the charity InfWmatK￿ ¢n page 2¢f these finarKial staternent& The nature of thE charitrfs cperation and winripal acbvitse5 15 tQ PTovidE a day or boaTdln8 school f btys and gwls of all The chartty con5tiiute5 a put4K benefit entbtyas defined by Ffts 102. The firncial ststements kne been prepared in accordance ryth Attounlng and Reptru￿ ty Ctsiitie5: Statement of Atton￿Tr￿ed Prartice appf&¢able to charitie$ preparing thelr accounts In xcordance with the Finaryia Reportk Stsndard ap￿able in the UK and Republk of Ir￿￿￿ IFA$ 1021. the Charilltskt 201L the C¢mpansAtt 2(A)6and UKGentraUy Accw PractKe. The finanaal statements ¥e prepared a g(Mre t0￿M basls under the htstorlcal cost con¥entlon, modffied io indth4ecertain lterns3tfairva1￿ The financia stat￿n￿a￿PrePared InSte￿￿wI¥th i% the functi(malcurrenty of the ch¥ity and r¢wnded to the rearest rcoi. They8nifant¥¢cO￿fj￿gPohfJes applied In trewepar•tronofth¥firwdalstatementsar S•t￿rt bdow. These polides have been con#stentyaNlledto al Ye￿ presented o11￿5estated. The finwl Statem￿ n the reyjk ofthe consolW•tiw of the finaKiil sfatwnents of the mpany its sU￿dIaneS LSF Shop Th(mas Bwton Oe4wts Lwnited and Lov8hb(Yough Schools Intem3￿OnaI lQ"n8daol Limited Idomiantl. ftnanaal ststunentsof an compaThes we made up tg 31 Au8USt 2021. No separate SOFA has been yesented for the charity e•rWions afforded ty the C4%npanle5 Act and the SORP IFRS 1021. Funds held bytht ch¥itable ¢empany •re u•re￿￿ted I•￿1 funds-these aref￿d4 7AthIth be used In acuffjthn￿ wlth the tharltable obJpEts atihe dis¢retl(ffi of the dlre£t Aestrfd•d knds - are fvrtd5 that taft be for partS¢yJlar ￿5t￿l￿d wwp05es within the objects ofthech¥itsWe¢ornpwry. Re5trKtions ari5èwhtr specified by tre Mernorandurn and Article5 of AssociatTron. ortrdontr. or fa5ed frpawiKularrestrKted purposes. P¢rniafiert l￿d$-theSe ￿ the 13nd and IxAhn8s ofthe sth9¢15 kwostsments. which afe not free for disposal Will￿Ut replx•iwiL AII I￿Ornin￿resOUrCeS1rt ￿￿ded IntheStattm￿ of FkndalLthl¢s15oFWtfvthEntrdHrityis leaallyentlded tt the irtome after arty pw10Tha￿e Conditi￿ hwe Ixen meL tt amDunt can be measwed rdabty and it is probable thatihe tsicome will be reteThrd Fees reCei￿ble ¥tactc•JnreOftf In theptrk￿tO rdate. E•th ￿ar an 0￿•1 amountot 5% ofthe ￿e$ recebved is allocated to the bunary fund. The fees recer¥Bt¥le we stated after dedudin8 5¢holarships and other remissions 8ranted by the tharitatae compary. ho¥W. the sta￿d fee5 Indude the COn￿bUtiOnS rewved Ir¢yn I￿rICted fvndsfor b￿SarIeS and othef 8ran

LorighkwoWr&hLwls Fowthiiort oNdFinoprialSioieiNe4TF$ For1j￿11re￿thdJ1 Aug￿1 ?Q?I Notés (contin￿) Investment intome Ks earrd ihrwh holdiry assets for wive5tment purp()se5 5uth a5 Shares and Woperty. It includesdividends. interest and rent Where itis not practitablt to identsfyinbsimefttma)agementeOSts incurred thin a stheme Wthrea5Ona￿eattUr•I1e invesknent irKome 15 reported net ofthe5e costs. It 15 irKluded when the amount can be measwed reliatty. Interest intome is ret08ft￿￿ uslng the effective interest method and divideftd and rent in￿Me1S reewised as the tharitys ii8htto re¢ei%e payment 15 established Donatlonsrecelvedforthegeneral purp05e5 ofthesthL)ls a￿¢￿ethledto unrestrirted fund5. Oonatiorts gjbiett to specrficwlshesofthe donwsare wied to the relvdantrestrkted fvrrfl tr endowed fvnd. Trndlffj 11￿￿mt Trading income. irKhJding IlKL￿ from L5F knp Llmited Th(•nas eurton Developments, is i￿t￿ded when receTriable. Inc¢>Yte from the Corona7Arus Job Retenfl(ffi Sthwne lafts) ha5 been rec(erMsed as grant income In the perlod it relatesto using theacuu¥s All expenditure is accounted froft￿a¢￿￿a￿ basisand has been dasslfied heathn8stt￿l awegate dl costs rèlated to the cate8(Yy. Exptnditure is reco8nised wh¥ there is a le8al or COJlSlTUCtive obli8ation to rnake payments to third partie¥ It ￿ probable that tr￿ setttement will be rewired aThJ the amtyjnt of the obli8atton can be measured reliabty. It ￿ categorised under the followi￿￿adIngS. Expeftditufe on raising ftmd5 Éxpenditufe on charitable acti Other exFenditwe repres¢nts tFthe items notfal&rintotre catrgrKsabo¥e. CharIta￿e expen¢￿t￿re Compri￿ those costs by tre tharitsble in the d￿l￿ry of Xll¥ilies and $enri¢es f¢y rts benelldarie$. G¢)¥ernan¢e tosts Include those u>sts asS￿latEd with rneeti￿ the constitutional aThl statutory fequirements of Lou8hbryou8h khoots Foundation ar#1 its sUtN"d￿rie$. ths ind￿leS a￿1rtfee$. All costs ¥e allocated betrfftn the expernlitwe categryie5 of the of ￿nar￿131 Acti¥ibe5 on a ba51s d￿gned to reflett ihe use of the resource. Cosis rdating to a partipjlar xtNity comprfse both costs that Can be allo¢ated dire(Yy to Such arbw.tfes and those costsof an inthrect fta￿re necessaryto support them. Irreco¥erable VAT lstharted as an exptnsea8ainst the athityfor whth expenthure ar05e. All redundan￿ and terrnlnation payments are rec(enised tlthln the Trr. The freehold lan<1 and bJIldi￿S were re-valued as at 31 2014 a￿1 on adopti￿ of FFIS 102 SOF¢P this Wa5 taken as°deemed cosr. Tan8ible r￿e￿ sets afe stated at cost (ty deemed com) ry ¥a￿lI0Th Sess actumulated deprecialion aw¥J accumulated impaimient1055es. C05t indude5 Costs ¥￿i￿rtable to rnaki￿ the asstt capableof operats"ry& as Intended. DepT￿lation is prthrfded on am tarelble fixed ￿sety at rates ¢ulated iowriie off thecosL ss estimated residual value, of each asset on a s)rytematic ba%5 w itsexpe¢ted u*AfvI life3sfdlow5: 31

FtYthp)w¢•uled31 Notes fcontinuedj Freehold land and listed knnlorgs Otherfreehold buildi Fumitweand fittirq5 Equlpment No depreoaikni tharg 5-50 years 10 years 4-IOy Investsnent W0p￿leS for tthch fair value can be measwed reliabty without urrtJt cost Cv effort are measured at fairvalueat each reporti￿datttylhthJtye5 in fairtAlue recognised in'l105s118aw6 on revaluation of inveslrnent In SOFA No deprecIati￿ Isihryd on imwlrnerf mrts in att0rd3r￿wlth tt Ch•ltie5 SORP. Investsnents are re¢Lwised TriwYally atfaTrvue¥Jtr4th t5￿MIaMythe tran5tlon w4cttxclwm￿tyanSacfjOn costs. Subsequently. they are rneasured at fair 4alue with re£￿TrIsed in '8ain5111055esl on r￿aluatiOn of inve5tment< in the SOFA fteali5ed $4ln5 and los￿ are tulaiEd as the trSffr•￿ bets¥een s•1 pmteeds and original cost Sto¢ks are stated at ILVrt dcostand tstANted sellw% wice less Costs to and sel. Cosi InrJthJes 41 costsof puicha$4 CJ)sts of convvslw and othermstsirLtyrred in brir¥ngstotktO itspre5entlocatson andttsnditlon. Cost is ¢akuled the first-in, firs¢-OUt ftWM￿a. Prff￿ is made for d•ma8e4 rtlsolete and slow4novln8 Operinglease reAtalsare(htyto the s13t)ient of fin¥Ki•l a straiBht-Ine baslso￿rthe period of the lease. Assets obtsined under hire purthase contracts al￿ leases are tsWlsed as tsnglble fixed a$5ets. A55Èts ar9￿￿ed * Ilnance depre¢iated sh<>rter ofthe lease temi and thdruseftA lThts. Assets acquired by hire purthase are deweo.ated over t￿r usthil ￿ve finance leases are those wlre 5ubstantiany all of the benefrts and risks of ¢y￿Mp are assumed bythe c&rywy. Ok4i8ations wmler 3uth agreements are included in ueditots ofthefnarKechar8ealhxated tofutwe per￿& Thefinan￿elemeTrt9fth¢lents1 P￿1$ char8ed to ihe profit and1055 accounts0 as to wodwe 3 C¢¥Ul3nt rate of diar8ton the net obli8aiion ¢￿tstandIng in exh per￿. Prepaid fees are hefrf asrJethtrys the start of the tem) to they rtle. Tly art thtft tTasferyed to the ststementoffinandal actrt5 and reuv￿Se￿ a5 in¢(me. Loughb¢rou8h St1￿[$ Foundatlon tsexwnpEfr¢ffi in¢ometsx ¥ThY tawtsl8ains tam u*th Secikni 505 ICTA1988. 32

GthYrnys'REwrtaThlFrTrwpKial SralEmEnlS Forfht ￿eAdEd51.4￿S￿l20?1 Nate5 {cthitinuedl TheTPS is anunfundedscheffle1r¥J￿￿rib￿1Oft$¥e(￿¢￿1thd soastospreadtrecost ofpensions mremployees. workirelives insuch awaythatthe peASfjon¢ostIsasu￿anlS3Ity level pertentage￿CUrrentaThd futwe pensionable payroH. ThecontributionsaredEtemird bYt￿Govemr￿t Artuary on the basis of quinquennialvaluations a wospetti¥e unit credit method. As stated in Note 24. fv TPS is a multi-em￿￿ stheme and there is Insuffioent infornation a¥3ilatle to use defined tenefit accountir¥. The TPS hs therefcrfe treated a5 a defined contribulion scheme for actounting purw5es and the cuTrti¥butiOnS recf4ntsed in the penodto which th•Y relate. The khool pays C(mtr1b￿IOffj into wi¥ate penson 5thrn thlch are managed Independentty of the finances of the S¢hed in ￿SpeCt of its supwt staff. The are operated on a ¢kfiMd cOntrib￿lon ba￿$. and therefore no surpl￿t$ or deficits￿11 arise. Corlfib¥lioDS ¥echaryed a8aintt exFenditure ￿ the year Ir Ihryfall due. The fininrial statements h¥4• beeh prepared on a gLing t¢rt¢em bws as the tru5tee5 llivt thèt no matrial uncertainlies exist The trustees have considered the levd of flmds held and the expetted le4￿ of income ènd expenditure for 12 monttLS Irun authoris1￿ these financial ￿aternen￿ After raknng intc• conslderati¢)n the effecis of COVID-19. Gthtmors are sthll satisfied bied inc(The and expendrture 15 5uffiEient with the he￿1 of reser¥es lor the tharity to be ab￿ to continut as a goirg ¢tmcem. The Sthoojs iemain open and we a￿ tonfident that we have a robust oTrlinefaalitythat we C￿ quKkty wtinto Flace should remte ￿3T￿r4 be required. Ea¢h mthber of the chitsble tT or è iesseeare r•eratin8Otfinance leases. These decis[￿ de￿d on an 35se$5ment of wWJer the risks and réward5 of ownetship have been transferred Ir¢yn lessorto Ihefe55ee ona lease ￿lease basedon anevaluation (the temsarnl condiknon5 ot the arrar¢ement% and a¢ctydiTth whtthff the Ita5e rewires an asset and liability to be wecognised in t ststementoi financial pos￿￿. Critical estirnate4 assumpti￿S and jucanents relate to the detefmwbatk¥n of the carryin8 value of Inwestrnent properties at falr value. IA tsterminire the group ap￿leS the o%wridir8 corfept th￿ fair value is ihe amount for whith an asset can be exchanRed between knoledgeable williw parties in an arni's ien8th t¥￿sactIOn. The natvre. facts and ortwn5tanc*50fthe investr￿￿ri4￿s the ¥al•Jation rnethQdd￿. Nots5 {continuedJ 33

rnvs'REpvl 0rdFinty￿ti7lStsIC￿e1[l5 ForthÉyewKdEd31 A¥8wI2021 Trade and other recwvables are rec(ytsed to extent that try are jud recobwth. Mana8ement revlews are performed to estimate It￿1 of resefves re(NMred lty irre¢0¥￿ilE debL l>rfAfjsions we made spedtkalTry zeainst ifh¥oice5where recO￿¥3b1ity 15 uncvt•n. Mana8ement make5 alowano for debts based ￿ an assessmnt of tt re¢thtrability of debtus. lowances arap￿led1Odebtors tterèe%entsortharqe5 In cycumStsn￿ inLICatethat￿Carryln8amOUntsrnèY not be re¢¢werable. Man￿ement speoftaly ￿aty$e histwical bad debts custuner credltwthlr￿$5. cwreTrt economic trEnds aml thanges in custwer payrn￿ terms then makir¥ a juÈmentto evaluate the ade4ua¢y of the provisKffi for (loubtlul debts. WheretheeXPe¢tst￿ isdiffueni fr(m tr(iwnal estknate, such thffwert¢etMII imw the tirTr4revalueofdebttys ttwge In ts statemert of finandal acii¥lties. Management have re4iewed the asw 16hts aTrJ associated ruklual va14ffS Ot an f￿ed asset dasse5. and have tt1nd￿ that asset lives residual ¥alue5 are appropwiatè. The hes of the assets and residual ¥ues are a*55ed and may vwy dependlng on • number of fa¢tor& In ￿-aSSeSsIng as5Èt li￿. factors suth as te¢hrdoOcal knrthiitson. product lrfe rydes maintenan proerammes are tsken into acu>unL Re5iduai value asses&7￿consider bssues sth asluture mirtetcoThlltlon¥ the ￿maIn1Th8 lrfe a55d and proprted disposal vauek Unrt5tricted Restricted Donation5 Lewie5 iii iii iii iii £ocK) Donations Leea¢ies Nvlo5

Lo￿h&yOU%h Schwls Fowthtio For ihrwtyepthdJl.4u8wi ?n21 The company owns ihe efttl￿ sh¥e capita ofThe LSF Shop Limited and Ththnas 8urton Dtvelowneftt Limited. It co¥enants any taxable Pfofits to the c(ffiparry. m tradire fesults for the ye ended 31 August 2021 fof both entities. as exlratted from their ludited at¢ount% a￿ swnmarised below and al rdate to unrestricted funds. Thoma5 Burton Totsl 2020 Ltd 20Zi TUrn￿r Costdsths 434 12931 523 295 I￿0) 154 1431 11091 iioii 21 0perntin8110ssjlwDf 74 knterexpèyAe li} 12) 121 t4etyofft 72 Iletajrted kn¥btsthtfDtw¥d Retsined knsc4rried forTd Thea88re8ate amountsof assets. liabilitk 5h¥e capt aThl reSeTh￿ re: Totsl 2021 Total 2020 The LSF shop Ltd urton 0&￿0PMent Ltd £ODO Non-curyent •ssets Current assets Creditors.. amounts fal￿Wad￿e wlithin year 305 13051 33 1421 375 13901 {347) Net Iwrrent liabiltie5 181 Creditor5." amounts fIl￿r￿dueafi¢rfflOTèthar one year Net Ilabmities 181 5h•re capitsl and rese 181 35

Ftythtitr en&d3lAyg￿l2021 Nrte5 On 16 Au8ust 2018. LES Ltd became LSF Shop Ltd. and a5 s￿h a new lease a8reement was signed wlth Lou8hborough Schools ￿arth￿On. Leasè costsof £9.81XI per anntsTh arepayable uti￿ explration of the lease on I March 2022. Oank interest recadlle Investment incorne Rental IrKcffle Z7 19 16 81 57 123 2020 71 52 SCI￿1 Income recd¥able comprlsetr. 2020 Tuition fee5 Boarth'ngfees Bursary awardsand yalts Bwsary awards and y•ts padftr tyresirlctedfimds 26.857 L192 1lJ>7ZI L142 11,0751 1.181 29h54 27,962 Governmentfsants Caterfrere£elpts OtPerlee5 & 8rnnt 1,059 852 176 177 3UII• 30.049 Incune from sthcd irtome Twas f3lOW(XKI12020: £3QO49.￿￿j of whlch É29J7&(KQ1202Q. £2&868.IXOI was attrlbutsble to unrestricw fvnd5d £1.142.tIXl1202Q. £L18LCKII wa5altrutk to restrthd fvnd Tuition feesfortheye¥ifflyde £L07IthJ)12020: EL075,IMII trarsferredto rE5trKted fund bjrsarie Go¥enWnent8￿tItt(Tht of£219.¢XQ Is made up (* Incm fromihejob Retentlon Sther Bursary •vorts, yants and sthol¥thpswere madt t• 246 pupibsl202tr. 2871 fr¢yn restrktedfvnd&

Loughknough Sdwls Fotwdrtlion GDvpMr$'Re￿n0mdFlPjW10IthQte￿Elrf Foril)tsre#ded31 Augmsi 311?1 14o¢eslcontinue¢lJ 2020 Audiiryg ￿Munera￿n. For audit For othpr serwces Go¥emof¥ wofessional ￿a￿lIfyin5￿ Depreciation of tan￿ble￿XedasSets 29 2.202 stsff 105ts Wages and salarles Sw'al 5eulllty￿5ts Pen5fon ¢ontributior6 17.496 17.221 1.587 2.915 ZL117 21.723 The numlwofempltyeeswhosetontractsi%r terrinated aTrJ wholeft our emplownent with1nthefina￿lalYear totalled 6 induthn83 redundancie& The average nunber of eM￿C￿ee$ in ihe ye¥ was 67912020". 6761 of whLYn 2751202LF. 2751 were t¢achln8 Staff. Neiihw the 8overnors nor persons ton1￿ed with thtm rete4Vtd arty remuneratbon or other benefits from the charitable companyty ary¢¢)nhe¢ted tyganisabo Th• numberol tmployees ¥kn<>seemohJmutsX(eeded £60.(IX was.. 2020 60.CKJi. £70K £70.QJI.£80AX)) £80,C#JI.£90K £90.OJI.£IOJ.I￿J EIO).001- £IIO.iMX) EIIO.001-£120,¢JXI £120.001- £130.￿) £13QOOI-£14QIJXI 19 Contributions were maJttotheTe¥herf svpwanThJationsthtme. wlmch 15 a defined ber*fit 5chemefor 14 higher patd employees12020: 131. Contyibjdons to a defined contribution pension stheme for a furdw 5 employtes12020.. 51. 37

Goft¥WJ'Re￿edF1￿￿Uct0ISl￿tsme￿Ll ForilioreAded31 Aw202J fcontvw￿l The Ggvern¢n ¢on that t￿. twher wlth the Head5 of the 4 sthools and the COO comprlse ihe Key Management Personnel. The Gryrtrnor5 of freety arnl tl pay ranunwatlon of the Heads and the C(Y) ts Sa tythe ftefflth￿ Cmfftttee and ts kept wxler wEbknv. A n￿ber ofcriteria are I￿ed in settin8 pay. Nature of the rotè responsitxlities Comwitor5alarie5 In the region Trends in pay The totsl amountoFemplgyee lnefftSreC•41￿ ktymaNaenrt per￿1￿1 is £838.IKKI12020: £835.OC#JI. The twstees neittrr re¢•¥ed norwar**d arry r•Nneraikn )ear120Ztr. EMLI.

£ougthyo¥ghSchoolsFounthiwi Gm¥nty¥'REwiondFtsthJrid&o&inenrs For il)YcrendtdJl AyLti2021 Not& 1tontlnt￿￿) T¢•1 Totsl 2020 £000 lnote 71 (we 101 C(otofyw•¥nifimts Trading Financing 395 135 222 90 135 441 312 tharllable e4)endlltte Te%hing¢osts wella￿ costs Sthool n￿als1ftd ¢ater Premises 17.098 1.955 19A153 18.810 232 1.327 5.325 3.993 1.161 $79 792 1.825 2.079 1.237 L3YI 5.565 447S L237 1227 2.396 Financial As5istsnCÈ IwKludir¥ ar4J $ch￿arShIps Go¥ernan￿<0slS 43 302 21117 7.931 1227 32J75 31,150 Total expendltwe 22.202 8.372 1231 3￿)5 31.462 Go¥ernance costs are an app￿lonMent of the relolant 5aarie5 ith fyd to the bor¥ tern? stre8I¢ planning of ihe tharltable ¢¢mp•w. Resour￿ expended t4xal £32A05.1fj)12019: E3L46lfm) of Tphith thesplit between is as foljows: T•t#l 2020 Unrestrictedfijnds Restricted funds Endowment funds 22.202 7.135 L237 1.016 31 L184 30JS3 29.046 1.2(14 1.212 Total 31.462 Bursarfes and s¢hdarshipcosEsof£L237.CiKII2019: £L161XI))I ha¥pbeen tharged diredyto re5trbctedfunds. 39

Lowglth>roUKhSchoolsFo￿dthiO F&Yihr)weJJdd31 A￿￿2021 Notqs fc¢wKinued) Ass•ts lfithÈ larldand Balan￿ at l SeptemlJer2020 Add￿0￿$ at cost Transfer be￿￿eTh classes 72.274" 614 L018 1207 9.IlS L117 84,713 1.093 IL1171 Atendof ￿ar 9.514 85.806 17A161 IL492} 11.707) .6891 16271 117.2121 11231) tha￿tr)￿¥ Atend of)wr 19.3081 11,8191 183161 119.4431 JiW20 66363 At31 AuBUSt 2020 64.4 L426 1.117 67.501 The parenttharbtsble cThnpary elt£le4 in XCL¥d• $35 Iqdl of FAS 101 to use the crwn8value Im I Semembtr 2014. the dale oftrarsitionto FKSIOlof anyof theatthtreeWlandaThl bu￿011￿5 previou51y¢aTried at a valuation astheif de•med COSL The ¥alueoflhe and ￿sted bwlthrs vhM¢hare nffj dopreciated.attheertd oftheparwas £J.fmC 12020.. £L6Q),00014nd É4.2fy).IKK)120Xtr. £426J,&)Jl ￿5perti￿V. No value is Indudedfor13YMI otrrthan pla1ryN4fieI￿ The ste bsan irtegral portofthestholastic tntÈtycomprisin8 malnly educational buildin85 fof whh no altunati¥E svthw i5foreseen. A5 1 consequen￿, anyvaluation of the te isimwodicaW at reasonable eMpeDse. ASSèiS ift the mJrse0fcor4tr￿kn t￿O￿￿t 2020rdatrd w tr ￿wd¥￿e studloatthe Hh School. All assets ￿ bdd fty use on tharitsbleactl4it*&

¥8hlKmgh FO￿d￿l0 Forik)trended31 Au8knTi 2021 Nots5 Icontuwedj The I￿1 book Val￿ of assets held uftd¢r finarKe leases w hwe PLwtha5e contrac15. indudedzbove. are as fdlows.. 2021 2020 Egulwn•nt 74 Char*abkConynytsryl￿II¥ed assets knday ¢¢wJr5eo• Ewlpmerf constru(Ql Total Balance * I Septemtsr 2020 Additr'onsat cost Transfer between da$5es 72.274 614 1207 9.105 393 1.117 1,087 IL117) Atend of year 9A98 85,790 Balance at I September2020 Char8e for year 17.8161 11,4921 11.7071 11121 17,6861 16231 117,2091 12.2271 At￿Of￿ar 19,3081 11.8191 I&3￿) 119,4361 At31 •4¥￿tIO21 567 66,354 At 31Awst X20 L426 1.117 67.501 Thè net book value of assets hdd underfin•rKe lea5e5 or hye wchase contrxts, intlwjedabove, are as follows.. 2021 2020 Equiwnent 199 49 74 41

GovenThs'Rewrtarn4Pint7ffcioIStstsMei$ F¢YthE)veth4td31 Awl 2021 Total 8alan￿ at i Sertenthr 2020 L(Al 3.064 4145 SF4)salof Adthtion5 atc( DiS￿saI$ Qtareein vauE Of1Th￿S￿￿ 187 11081 828 3.9n 5A152 The ffsted aTrl managed Investhientsof £3,97LQKI12020.' £3.064.(X¥Jl coryisè £1139.(XIJ12020.. £984oIKII tharty in¥e5thients and Q833.rKo(202￿ a07&(D)I InNstments thre£ty listed In the Uniled K￿8d¢￿n. Part ofthe In1￿Ment TK4S tr¥a￿ed as ¥t Mwch 2021 tyJLL chartered SuNey(Y& mana8ernentc(￿$lder ths knrnaterialtthtyand held the woperts arthe Z014 aThJ 2017 valuatlo 2020 thartl c￿￿lI1dated Charitsye Companv Stttks Subslthar*s stocks 45 2S7 45 302 45 42

14otes Icontint￿d? 2020 Owrftable Consdidattd C41M￿nY CharIta￿e companv £000 Fees rec￿aLle Other detst￿$ Trade debtor5 Due from 8rwp ur4lwlaknry5 336 336 898 24 231 303 74J 1.244 1.537 Amounts ￿li￿d￿*ithFn ortèye¥ 2020 Chaitabk c￿lIdated th¥itable Company Prepaid fees Fee 8u•rantees Taxation and social sewity Net ￿luationS uTrJer l¥re wJrch•se corrtra¢ts L747 74 1,747 74 474 124 L242 L242 414 124 415 124 28 83 1,346 161 CBILS loan Other tredittrt A¢rn?Is 1339 L429 162 5.185 s,1￿9 3,568 3,485 Net obllgation5 trare pwchaSe¢￿tr¥Cts8tt st￿re& on the assets towhlch they rejate. Feeguantees are repa¥a￿e when pupils le￿￿. Other trethtors I￿l￿de £303AXX¢12020.. Q49.OW} of outstandin8 pension contributions. Fi8ure5 have been re-ststed io IrKI￿le fee 8itaiaAtees duewithin one year 43

i•i&JroWiS¢hools G￿n￿'Re￿I0￿￿FlWI&s¢ll¢E￿lerns FtrikyeeKdd31 A&¥uTt2021 lrtQs (contffi￿d) 2020 Charita￿ Company C•mpary Fee guarantees NetoblIgatity￿ 744 124 642 4.917 124 642 4,917 614 4917 Cl8ts loan 3J17 5Jl6 427 6,427 Net obli8bons under Iwre pwtha5econtrartsarese¢wed On thewets towh¢h relate. 16 Pro%iMs Balance at Isept￿ber2020 Charged in year Ulilisedlr4ea5ed in year 102 LE￿1 costs refaie to P￿s1On5 to defend ljoth known arvj p)tenit•l Itwtioft rewdifigemFloyrnentmatt•y and captsi woiects.Thue areewted io ber•rA¥ed lrytheendofthe X121123 fhwdal yew. om￿lanCe wovtstons to kwtemial ffsks fvi were idenrifiÉd In tryearlxrt nolfv￿r¢sOfved yÈareftd.Theyare ￿￿enIfye1Pecled io be lyrdv¢d bythe ewl of the 2022123 finarKlal yew. Minin￿￿ lease payments trHre purthefal thjeasfonryws: Charltable tompanv 124 124 124 124 8etween I.5￿￿$ 248 248

Go¥er￿, For il¥iorepthdJl A￿￿0¥.￿121 N￿e5 fcontfftuedj A￿ty$1$•I httassots f¥thds2021 Bursaryfwd vrton bursaries 2 A & PM Shepherd H5 Gym Equipment BF beqLst PartrinLrq￿t L292 1165 62 339 396 IB3 205 18 6S 67 172 167 174 53 GN H•rbyluTh4 8oncreft be]￿1 StelnwtyAppeal HammÈr51ey bquest pri￿fundS Stholatthips New Gr3mmarSth(d CCF 8uihlir¢ The iOU8hbJrièn 8enthr4errt OWOCfund tKIn￿n$ restrfttedlund Cockrell beque io 149 21 31 287 102 136 72 102 145 191 151 Total 643 1936 5.255 1912) 15.7041 12.565 Endowed 1376 49.915 fA363 052 1024 15.7ND 67.735

ForikJwe#d￿J1J¥gX5l2O2l BUr50ryf￿d Burton t￿r$3￿¢s2 A& PM Shepherd HSGtrTh Ewlwerrt 171 L291 171 1022 731 167 306 402 18S 173 PathJntr•Jesi 175 iii GN 15 roftb4uest 71 Hammor*ybewest prtsef￿dS SthoL•r5Nps 14ewGrammarSchc 12,393 47.666 1763 1.42Y 6T.￿1 4.145 {6.4271 67,787

sc11￿1$ RewiundFiMwi¢71Stoi¢JJtEnt$ For i1v)y￿ eRdÉd31 Avgltsi 2Q21 Note5 Icontinued) Trtsf¥ •nd lains on lalnson &alan￿ al 31 Sales AyBust 2021 Btsrsaryfund Burton bursaries A & PM Shepherd bequest HS Gym Equipmrt BF ￿on bequest Parkin bequest Coltman beq￿st Wdlson bequest GNH￿eyknd 8ancroft bequest Steinway Appe31 Hammer51ey bequest Prize funds Scholarships New Grammar School CCF Building The Old LO￿hbUTl3fi Benevoleni fund OiAF(K Donations restricted fvnd Cockrem bequest 1.072 47 11.0721 130} 1291 171 2.022 142 2.165 62 161 181 32 339 396 402 185 173 171 iii 39 205 18 65 67 72 151 31 2￿ 105 184) 17 102 117 21 la6 74 121 131 1441 151 142 43 T(4•1 4.965 11.2661 5255 The bursary fvndreFxesents sumstransferred etth year bythexw. underthetefms ofthetrustdeed, calculated as a percen¢3ge offees excluding those ￿￿15d under fo￿datIo# bwgries. The percentsge5 this year were 6%. 6% and 1% for the Grammar School. the and Farrfield respe￿I¥￿y. Lw8hborou8h Amherst School makes no cotitFibutio After a re￿eW of the usa8e of Ihe knjrsary fvnd in ￿18 the governors ha decided to ￿th¢e balance of the nd io £f£il.000. Transfers from fee Ir￿Me ¢oMtnue to be made as described ai)ve and any difference between thÈ transler and the awird5 the year ill be adJ￿ted ty on additiwal transfer to maintsin the fund balance at £￿.000. Therestricted NVWGrn7)mar￿ho0lCCF t￿lI￿￿f￿1 of £IOZ(W rewesentsa Cthtribution Iwthelocal cadetforce toward5 the cost of a buildw% whith 15 beingchxgedta statementof ffinancialacts¥ites ¢)Verts￿ iifeof the 3&seL 47

G)vtrntti'ReKvrt ondFiftwriolSoiertJeni$ For1k￿t￿lé￿j3 A¥g¥i2021 qalns)n aalance at ai Bursary fvrKI Burton bursarie5 A & PM shepherd bequest Gym Equipment BF tyson be Parknn bequex Coiiman beq￿ Wolfson bequest GN Har¥eyfvnd Bancroft bequest 5teinwryAppe•l Hammersley bequest Priiefunds Scholarslops New Gfan%m•r School CCF BuildiT The Old LO￿9hb￿rlan 8enevolentfund OLAFC L075 110751 1231 1221 170 1020 171 I022 181 69 17) {21 400 189 186 401 185 173 19 1121 21 1211 29 260 105 252 127 11171 (31 Is) 117 16} 74 restrirtedlund Cockrell bequest 147 19) 142 Total L319 11.2041 . Certasn Wdtson and Hammer4ey bequests raati￿ low￿￿of￿￿eSand fittiw a￿ belnKdr8ed tott The Old Lthehburian Benv4dent Fund represtnts fvnds to be traf6kned to F￿ndatIonS Sthod5 folowin8 4 decision made by tPetNstees ofthe fund dLYln8 201L The fints will be used for objects conkined in the oriBinal trust Deed of the Old I￿hbUrIan Benethnt Fund The A&PM gphvd and bequests iK(rne used to 5cWarstWP5 a¥Ardtd trf L￿htsm￿h Gfammar5dth and ￿h￿(YOu8h Hl8hScP4. Theother restwl¢tedfiffNls •1 relateto Ixqutsts aThl dft5 tobe ￿ed fty spth or sthLlarshlps (note 181.

oughborough Scljpols ForKdofic GOTryrn￿. Rc￿ ondFjnanrialSts￿AemIS Forihe tsrendedJl 2021 2021 2020 £000 C•sh fftows fvom operatlry •ttl¥ltkn5 Netlnccffje/le%penditurel forttremire peritid1asperthestatem￿Offl￿aftcial {8731 Adlu5tTrnttr. Depreciation charge Dimdends. t￿e￿51 and rents re¢ved from invesim Decreasellincreaselin stock Detreasellinc￿a$e1 in debtNs Increase/{dec￿ase1 In credi1￿5 Increase/{dec￿asej in p￿￿$10n$ Gainlllossl cffj revaluauon of inbestrnents Profit on di5Pts5al of inve51rnents 2J31 11381 2,205 11231 1961 13571 11.2471 91 Net luxdllprob4ded byopw•tlry I.￿9 13941 21 alysisof Gharyesln netdebt •al¥K•ai 31 Cash Fk*s Iioh as •t 31 AU￿$t 2021 Cash 6.390 Lo3n5 falbing due wthin oneye¥ 19171 11,0281 Loans falli￿due aftermore than one 15.5591 1,028 14,5311 Finance lease objigations due within one vear Finance lease obllB411ons after more thw one year 11241 11241 Tulals 49

Ayi 2021 Ngle5 fcThDtirn￿dJ ftePa￿Thents are thR35 ft41tr 2020 Arnountsfallin8(Je: Within oneye¥ Belween andtsvo) eetween Iwo and fvt years 530 670 Lender HSBC Bank pk Terni 7 years 85 Castle(fi￿ Street Vari¢ thar8ed•t L55% Ther base rate Aft1P￿SaI(￿liS Repayments ¥e due os fdlow5 2020 Withln one Between one and two years Afterfr￿ years 917 917 4917 Lender Natwest knk PLC 6 yeats TBC- try NfhYnber2021 1 year interest f￿e. Irrterest rate after i year 137% base roie 14 TheTeachers' pen￿On Sdme (TPS) is a strt￿ory. t¢mtrl￿, dtffftd berfit stheme. 8oNwrd bytt Teatherf Penslon Schemt Regulations 2014. Pknberstrop i50utrmatitts tea￿￿$. texhers ha the optlon toopt-QJt crf I￿rP5f011tym￿ erolmenL TheTPS is an unfunded sckne to thlch both the mefflt>er and nplwermakes ¢onirfbutlon5, as percentage ofulary. Cofttrlbutlonsarecrethted tothe Exctww. Retyementand other benefrts a￿ wd by Mwcfvnds prrmded ty P>llarrnL Valuaiion of trTeather< Penyon Sd￿. TheG￿￿mrnQntACtWry, usfjre rwjmial actuariat prirKi efmd￿ts a fttmal acw¥i reblewofthe TPS In accgrdance w￿h the Pubk seThI￿ Pen*ons IValuab"onsand Ernploytr C05t Capl Dirertions 2014 published HM Treaswy ewy 4years. The aim of the fe¥iew is to speufy thelr4d of (￿¥re Cthtribution5. Actuarlal heme valuations arè deP￿efft On assumptions ab￿t the valueoffuture tosts. de51gn of benefits and many other lattTh5. The lat￿ a¢￿￿laI￿aluaII0n of theTrSwas orried c•Jt as at 31 ￿1th 2U16. Theva￿all0Tr

Lou¥htWO4gh Schods Fowthiiort Govenws'Rew1u￿FU￿￿C￿ls￿iemEffj$ Fori&F¢y¢ar¢nded31 2f)21 Icontinued) report was published trltthe Depfftntfor Education on S Marth 2019. elementsofthe ￿lUatIOn and subsequent consultatlon are.. . ernployer contrltwtion ra￿ sei at 23.68% of pen40r￿ pay Ilndudirrf a O.(% athirlstraiion levyl . totsl Scheme liats"Ibtie5 Ipensions Curren￿ in Pa￿￿ETht andthe estmnated cost of future btnefitsl forseryice to the efferti￿ date of £Z18,ICQ ffldlioA arvj notio￿1 assets lestim•tedfvt¥re ￿ntrIbutIonS1O￿etherWlth the notional Irwestments ￿ld at the valuation datel of £l%,IC¢I milliort. BI￿n9 a notional pastservtce deficit of E211J)) million • the SCAPE ratr, set b¥H￿, is wed to determine Mtional in¥esknent return. Thecwrent SCAPE rate is 2.4% abowethe rate of CPI. assumed real rate of Teturn ￿ 2.4% in exce55 of prices and 2% in excess of earnin8S. The wate of real earniresBrch¥th 1$ assumtd to be 2.2X The assumed norninal r3te of return induding earnings 8rowth i54.45X. The next valuatlon resuli is due tobe kmpkn￿nted from l fvwil 2023. Theemwoyerfs pEn5ion c05ts paid toTPS in the period affic￿ted to£lS34.iXQ12020: £149LOfy)I. A copy ofthevaluation leWt￿￿5￿p￿rt1Th8 documentati￿ is fy) t￿Tea￿er¢ Pen￿n$webslte. Underthe definitity)sset out in FPS 102, the Tr5is an urrfunded mUlti-eM￿OyeT PEnsion scheme. The Foundation has d￿￿Jntedf0r its contributionsio the sthen as if itwtre a defined ¢￿tribUtIon s(￿me. The Foundation has set out above theirtfemiati¢)n a¥al￿t on the sthem¢ In connectK>n the role as 8o¥erntys of tr thwitable company+ the recei¥pd relmbwsement amountsn£ to £46912019.. £1.879lfor expews incwred As at 31 2021 theth¥itst4ectynpanyh•d fu￿re minimum lease pa￿nts urrflernon<art¢dlable operatire leases as follows: 2020 Explry date-. Within l year Be￿leen 2 and S years Greater than 5 ￿ar 121 147 Totsl 270 51

F￿11￿)￿re￿ded5I Au8uYi2021 14otos (CL￿tinued) Durry theythv rechy of£54.1￿{202o: ￿(￿)1 Tre to subsidiy urtdèrtaknn￿. Profits of£ll&(th1202tr. th),IJXII wffe•ft aded totrexhool in lireith cw4nts. Intknjed debt4)ws¢)n ther1￿￿table baarte slet ¥e4mtrJnts ¢7wed fromyoup ￿￿ertakin￿5 of £23LOOO 12020.. £303.¢JlQl of whlch £118.IUI12020: £230.(Wl relatesto a loan vthith is fepardble ¥Athln oneyear. and is 3ubiert to Fnterest atO.5% per annwrL Dwir¥ y￿r interEst ol £LI)X)12020'. £L((Kil wa5 (￿r8ed <Y¢ loan accountswith youp undertaklrys. uecon c0n5tnKti￿ was appointed in Awst 20￿ frythe corotrucrion ofthe new8lrf5 doncestudlo. Bluecon has submitted a valuion forffiftal a￿O￿Trt d£91.(mwhKh i5thwted by LSF3nd its QS a¢hi5er. Ne8Otiation$ #e continuing in this respertand Setdts)￿ is ewrtedtlthln the neXt￿n￿da1 ye¥. TheGrNemtys considw thai thecomyny ha5no controllr pty. Loughbor0￿h Schods Foundations has ttyee t•￿￿ ownwj sutsidi¥y th￿rtak￿r¢s whkh hwe been irduded in the tonsdidèted finartia ststemems Th<Jmas &Jrton tjevelopments Ltd has called up share captsl of £2. LSF Shc• Ltd has called up share ¢apital of £2. The ihird subsidlary, L￿borough khods InteMat￿fia1 lQSr4daol ilmited was inwrporated on 11 March 2020 and iswn5idered durnant 3Sat 31 Au8wt 2020and has c4led w 5hart¢awtal of EIOD. ThesubsitharyrtysreTed dfKe5are ts Same aslor LO￿bOr0u8￿$ch￿0l5F0￿ftdat￿ffi wNch can befoundon pa8e 2 oftt Gobtm(n' rewt.