2020-08-31-accounts

King's School, Rochester Annual Report for the year ended 31 August 2020 *QA221568' 09104r2021 COMPANIES HOUSE A03

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King's S¢h•)oL Rochtst¢r paB¢ I King's School, Rochester Annual Report For the year ended 31 August 2020 Contents Pages Trustees and Advisers Chair s Rcport RepoTt of the Tn￿treS 5-15 Report of the Auditors 16-17 CoTh80lidated Statement ol. FiDancial Activitie5 18 Balatsce sheets 19 Consolidated C&8h Flow Statement 20 Notes to the Fin•n(ial Statemeuts Company Nulober: 3791543 Rtgistexed Chwity Number. 1084266

King's School, Rochester PISE 2 TRUSTEES AND ADVISERS Bisknp oERo(knter Chdir o ernors Mi53 J A SMdwia l+tA(Oxonl IW¢yCh¢jtr￿G0y¢r￿orS (Arti118) "'lThc Vtry ReYw￿d Dr P J Hc3keth, AKC, DL GoY¢Tnors ond Trust¢u Mr B A Bell B&ry., CiMDIP, FCIM Reyerend QAnon S C Brtry Mr M J Che5ter&eld >iq' Revcrend Canon C. D L)et)ch Mt J R fTanklin 8A, Dip fcadi. MA U (RESIR￿ed 31# 2020) KcverEnd Canon Dr G J Cpiles {Appointed 13th September 2020} fvl# J P Glev4' BA {1 lony). CIM Dipj MA Mr D R GraYeJ BA (Ilons). Dr R J Kenftett MBE Mr$RAOll ReverLmd Caoon R s (re&i%ned Sth Septetnber 2019) Mr P L Rothwdj LLB {H0ts5) Mrs A Rotsse MSc {Rthgn¢d I lth l)ecembet 2020) Reyerthl J Rtsshton Mr C R SW￿ld, BSC. CEng, trICE. FRSA Mrs F_ }￿hl(la￿ MSC IApw'ntd 1st kptp.nikn 202U) ChLTITW Mut)l)es5hw of th. BrArdi% dettmiined ihe of lkne Gtivern(wshall comistof.. "I'he as an ￿-01r1d0 Goyemor: Four Canon5 Reaidenti3ry> P H Charlesj BA (H(bns), PCC4 Univenitie6 ofpxeter aDd Durham Oth¢rAlethbersol¢be Ere¢utiYe Boord Mr T H Morgon. EIMUJ (He￿) RCM Mrs C E ￿pe￿lhaW. MA (Ed). BEd (HI)￿￿) CA￿ATr M3 D J Godwin, BA (HI)￿}, FCMA Mr T Payne frlons} FCIPD Mr K France. BA (HON) Edg¢ 14111 Unl¥e¥￿ty Headmiltrw oFthe Pre.prep¥raW &lool Burw and Clerk w the Governors Estates Bvrsdr ndon, EC+R IAG 50licitotrs Whitehead Monckton 5 Ed htk. SILUngbwrne Ro￿. M¥ldJtone. ME14 3EN Bonk¢rJ Nallonal Wutmintri Bank PLC 24 Ro￿, ) Hlgh &r¢et. MdrtoDe. Kent ME14 IHJ Inwranc¢ Brokers Ga]lagher 8th FI￿ T¢mple Cirrxts Hou%. TrJnplc Iyay, Èrlstol 816HG Inv¢$¢rnot XoTra8¢rs Ruffem. 80 Vlerorl4 Street, LLxJdoTr, SWIE SJL . &hrodeY8, 31 Gresham street. L¢)tbdDn EC2V 7QA KSRQ020

King's School, Rocbuter CHAIRts REPORT It W￿1n1Y (eels &9 though thts been like no othu ITh the receni history of Kin¥s Sch)ol, Rodwtcr. 14te In January 2020 King's a&'eved a jud￿ment of 'Ex¢cllent' Ih aLi •rt¥s * a rewlt of the ISI inspcrtion only to bt lollowed in Mvch 2020 by the dtYastiThg devdopment Dfthe Cod.IY Fwftd•w. The￿Vernment bItrod￿ed J ntiDnal I(￿d￿￿n t04ddress this, which was in place for thc whole of the Midwtnmer'fem). Other key wrykeT and vulntr¥ble thIldr￿ the u]rri¢uknm wax then ddivered to ¥U kng's pupU6 at IkDme Yia oll-lthelearnlThg. To thwre St could monltor and rcspond to thi$ kn-deTel￿illg emcrFwJ th¢ Govcrning Bdy &stsbluhed a CoYid.19 C.omtnitt¢e that wovld mect weekjy vl$ vlitsJ41 meeting3 10 addre55 critical throughouE the Midsummer Term. In lth Ivlth the th¥ity's gover￿ document, thi5 eThsurtd tFAt a rtsbuEt XyStem OFg￿ governarlr wasltx platt. The Governi Body (Xrefully c¢)n4idcrcd the wider and lotbw-tum irnpcts on the kknl's fJnan(ial rcsdienrt, contbjually rovleivi potential difficulties due to thecoronaviru¥ pn(temlc ho¥v to proLEd in thebeJt Inter￿ts of the &knol. Coi'ld.l9 had a major Imprt on the Saool's o￿tIOnS aTr4 tyenis Mlth t6e immediate move to on-)inc learntng For all pupU$ from age4 3 to 18 to mntinue the education31 Lxcdjence w¥ided by King'%. wessurrj oFthe pandemic rnt)nt that the School needed to rapidi rea5￿￿￿ and re-plat) the pn)Yision ofteathlngand learning along wlih wider Op￿￿9￿￿ io continue its teryices and ayoid seitrc lir.￿et_ "The Schod Fwjsed O)DiinuJng a high levyl ¢E 3Trdetnic provi8ion vi? thc enhanced UJC of the techt>ology. rhe knveyning Ilody is immenxly to ll te￿￿thg staff for their cotytiniied hird worL in cMgJringthat the remote.learryi￿￿)v￿ has lrtn aswx•aDdwe ￿10¢£¢g￿tu]att?]lPuPl)8oTh thclr dtdAoii(41 and take-tsp of the 63me. ThE King's rA)mmunlty r￿0nded outst3nihngiy well to this dmlienge. prorfding high quthy remotz le¥Dlng. As a rcwlt of Lovid-i J, the. School reduccd the feu for eduL3Liort for the Midwmrtttt'lexm. With tntsbt pupd8 being at IK>me duringthij term, a feea diJoiunt for the term was TtkuE into KLOUPt th¢tTrNnge to the ¥ervlLf that ivas exporienced durltsgthc Midibjmmer Tcrm. the covert￿£￿)dy w¥$ ketD ￿<￿￿1der ilnpct on paTentsoFihe ameDded proYisii)n of e&Jcatlon. I'bt Goyuning Body re￿nI￿d that partTrts were alw king tIF#D(2al ￿fft1>jlIjC1 and rv4￿d￿ lry putting irt plate t H3rdship Burory to support ￿P•13, familics lth the fvlidsummer Tttm. &)m¢ wished to &)nt¢ ihe gTnc)ont of their di￿Ount towards this fund and did 50 and wc are irry grteful fi)r tlts geTher0￿ support. UnrtrAtridcd fund$ wue r¢- prinritised intÈrnally toprnvidc further wrt lots￿£ Fwrbts f¥tsftg fiNrtC2at J￿r)￿lEY dtse ro the pndymic. The &Jvk4.19 CominAttee also focud on • the ryti¢)n of the chatlty r￿lie0Cl. In partteul¥. idtrtion w15 8i¥en as ts) whtther Certa￿ yolccts. uwditure artd i¥itiC5 should be gteppl or dtJ8yed, io f￿llS on es6e.ntial the SKI￿1 f&¢ed Enanaal &AJlenp &ringthis Ptnod. Frotn Mtrch 2020, thang¢s wtrc ma& 4uo¥ thc EM)9rd aDd th2 tDaiorAty OF t￿ Preffli￿ dosed. As the SLknol contlrtued to provlde. eduouoTh to all pyl]s via on-line IfarningTr with WOTi310Th also pr￿￿ded￿[L8ch(X)I For Lty worker aThd vulnerable ¢hildrcn. ThL5 me¥ryt that many k¢y oxjld notbeTdutxd durlThg thls Ume. W'here we were Dble ¢0 ￿, various roles were fuAou&kd¥thdthbiwoYvkd the a(xt¥to ￿vernments￿￿t vh the Coronaviw5 Job RetentioTh heme. Enjuring the sf¢ty OF pupill and staff to protect tlKm From the risks of Co.,"d.19 be(ame * oltk41 worlty. With a r¥oroui rlsk I￿$$m￿t ITh placc, dirtanLW% mea5urcJ and athption of buildiDg8 and d8ssrooms acros5 tbe campu• '¢re incorporatd It)to q>ur infra-strurtwe. lThe return to kkni fvr thc 2020/21 A(dt¥Tric was kcpt uthde¥ c4)ntinu revkw by the Governingibdy •ttd the Covid.19 Comrntiee. l)urlng the Midsurnrner Tcrm andsummer holfrdayptrlod, t￿ programmeof refurbithtwjt alld redocorJtsnofstte tadlitit LY>ntinuJ wlth the knd wwk of the Sd￿1,¥ ￿￿￿tenant¥ team along wntSnueA ￿[ClY tests 1Th4 dJcc&$ to rcmalii mpliant. Unfortunaiely, ihe programme nfiettiny usually in p]a(t ovcr thls perlud wuld not80 ¥hpJd. In addition, thc KiThg's Roche&tcr Sy)rts Centre d05ed community In line wsthgoNernmerLt reArLrtionp. Thert werp. 4gnlOtant iinp•cti on tommercial activiikts rewltts)g in lost income due to the pndemic. Mt411ires uktts by the ￿¥Unment to ojntaln the virus hve ￿￿ected re￿Ilt finart41 it￿orne and ¢xpendittsre lev¢l$. nevextWth7, wehvc wnilnutd tOF*ovAeth¢full Lwrrkulum t0ourpuplsthr0￿ho￿1tbtP1rtdeMiC. wbile takthga num of1r￿j￿r￿.ltO Monitor and miti￿te the tfftcts ofCov5d.IY. I)ue toth¢ linp•d onits durkngtheperioarfrAtloh l(xWwn. the &hwl way UDthle tordurn i wplus yw.

Klllg's School, Roehe8t¢r pa￿4 The Cyoverninx Body yrAdy apprcaate tht. immenx Jupp)rt that wc knve rccrjvcd frorn nurpTCilti aild the wholt. KlnR'¥ commiu]ity duriiigthe MidxummerTeim andarc de]ighttd tTrrttwremiol and to W(kI￿O￿r of thc Imp( of the paTrdJnk. Chair off GO￿￿orS Missj A Sh￿￿n￿

King's School, Rochesler pRg¢ S REPORT OFTHE TRUSTEES The Trustecy pre5en¢ thÈtr •Thnual repori •nd •uditrd fuYAnciai 5tatemenES for the year endcd 31 ALbg¥si 2020 whicli comply with the rqulrtments of the Charlties Act 2011. C(Ynpanie¥ALt 2(X16. the Tn45r ]ked and the Charlt(u SORP (FRS102)- AI.4IS AND OBJECTIVFS Klng's Scknl Rodtester (King's) theolde￿ cholrvlwl and" the xrond ddutsrknl kn the UK. There haybeen uubroken cducathn at king's dn¢Xo￿ tstsbiishmentofa mo￿a￿l¢s¢hoOl in60¢AD. Tr SdoDloEFers aneXCep￿0nAI day and boarding educatlon for 610 students aged 3 to 18 With * dutjDgyisW Christiats fovnd•ti¢X and Arorg links lo RtthesteF Caihedral. Klhg's providu a Ixsniempornry 21" cent￿Y holistic tdu(xtiots itt an irhSPW tting Ikvtjoping ift all pupils. skills and Interests Wond the d•saroom. or Kinf teachingartd learning WPXted by o)Dfide4t mSddle leadtrth, wlll ￿ (¥)ll8Sstcndy t￿CdItnt. Wc will be confident. ￿tallY¢ ind cft)cientin teadillg aNI learnI￿thankS to a whole ipprth& whidL CDcouragcs Innovation gThd #hares heAFactJce thrwgh tr4ining. W¢ will oeck to rAablfith a brthd ¥¥A rowAtsl oJrrknlum3Yhkt> b¢nefbts all our pupi16 XJ thèt tw ore pr¥ared for A giobaliied future. A wknle sehotsl appro2th to the murricuJurn By 2025 School'8 qwhty nfco-wrrlujlu provixon viill b¢ CODJiStentky exrr.ptional. Wc wlll establish a co.een frml). extabli5W. Sttategitt tn Achieve ObjcctSlTB Maximising throu%h exctti¢ntt ¢n tcathingAnd le4rDing, fow¥ingoD 3ts1f traini￿", A whok xthooi approAch to the 0)-curr￿lUrn., Creatlng and dcvcjopin Iturt of wellbtkngforwk and in whtch th¢ bal￿ betwern 'iYork hardt play hard look after each other, haj ittnfirmiy LwhlisheAI. Ihis mdudcs the devd￿mme ofthe Dlyersity and IThdu￿L￿ Alliance. l)eYeloplng ihe f90.11t￿4 hkdu&iD£ l)uitdiDg8 relwbitho)t proie4XS attd ImwDYlng play areas aLfOi6 the whtrleackool: 5. Strlltwc appotntmeni oftt P.atu Burw to o)widtr a￿1 de¥ciq• thethl's Strateglc aP￿Intments ivithinn￿rket1￿g I￿] dmbsyortto m¥lntstn •tKi In￿ th¢ nurn￿ oFpupil8 Jn the l¥)ol aThl to Jct up A 13¢velopmr4Lt Offi(x' 7. Oyuhaul of the ap￿1￿[ and Dcparbntnt ReYiewpr¢xJ¥ts to promote #aff acvdoprneTht: Inyutingln ICT facili￿￿ and >taffing3tr11(wts to improvc wportffor ludl￿g. IndUd￿ G￿le Clg¥¥rwtn F oD-JJThe toching. aThd 9. Cont5nulr% the Wom0d(￿ Outra na p¥b￿r41p t￿O1¥h Tr￿r￿les KI enhanoJnettt of btsth exlrtlogana new Bchohrahw.

KlnÈ'8 School, Roches¢¢r pa8e 6 Charitable Objects Thp. objeth of the School, BS &Ct tsut ID th¢ McmoradwD Of As￿3￿10￿. re tbc yoYisitiTh and (￿uct of a day sethool for bny3 and girls 8ged 3-18 and the provi¥ion orbr1ardi￿ f(iJitiu f￿ knys and yrlx agtsl 11-18. Jn setung the objcttiveu th¢ Govt.rnors haytgivcn careful tur)￿deration tn the Ch¥rity CAXnml¥glo￿, w41 on publiL, berlth. PrAncipal Activities ofthcycar The School pr0¥2de8 an41 conducts a &y sknDI For boys and •gtd 3.18 th2 wykdlon of bolrding faciliti￿ hr Fwi ardglrl¥agtd 11-18. Crant-mèking Policy "I'he Yaiuc of 8e.ho14T3hsp, txhd)iTion?, ￿T￿ar1(￿aTrd other awards totalld £1.362,765 kn the year, I40A of gmss fee IncDme. 'ili¥ policy is to mike iivuds on the basi8 of an l￿dI￿Ad￿lI,$ tyJtststlth)al p)tth¢il or to relictye h￿d$￿P the pupll, tduc¥tiL)n fllture. PT0¥￿tt5 would otherwjze bc at riik. Thii year the Yalue ofpti¥J tsjade to the School's pupil out OF rethtricted fundsh¢Jd by Rnthr3trJ Cathcdraj King's School EndowrncntTrustand Gcoffrey HarnJJworth Trujt &mr)unted to £13.711. Tht pollcy For diitriblliiott Follow? the ￿￿dillon￿ impoxd by thr. oril'nal donor. Full detsll3 f>f the awards are b114hed annts￿l irL a bDDklet'￿d￿￿s￿ and BurykJ'. Designated Fund$ I'lit 13ur¥TV Fund %i"a5 Sel up seYf￿al ye.Jr$ loo- the. •n¢onie eontinu¢s to bt reinV￿.a iinul it has r￿.)d￿ BuffiL￿11( ¥iLe to m4Le * Ivorthwhde cx)nirlbution to bursiriufor pupils. l)etads of the alx>Ye f￿r￿45￿reContI1ned sn Note 15 to the fin3ncial St•ie.me.Dts. Voluntec Thcrc ¥e iwrj thrlvinR prcntal group 0￿1•￿8.. '1￿c FTiend4 of Ki￿3 &thotsl and The Pre.-Prep 5uppnrter¥' Gwup tA'ho fiJThd.Disc for tht.WJwl. Tht CTrOVtrnors WOLdd like to take thisopp(rtunityto say howmu& if•PPTe<2atrs t￿1r cantityuing and vluable. support for theschools work. The.Covernorsar¢ mostptrful to th¢ Friend5 for their contributiw oF£15,(X)O for the rtwrfacing f)f the coun ITh the knior k&ool. Publxc Benefit In pursuance ofthe Sthool's I￿£-he)d oigeL*l¥e ITh offvring publir. betbtfit w thp. eimmtsrttty, and to cnsureLvTnplIaJb￿ with r£centlcgtslatlon, ¥n Public Benefjt ReTrlcw 15 undertaken intemwlly. Set outbelowi¥a3urnmary ofthepub15c.bcncAt

JJursarie& and SchoiarJh•w. Ile &-knl w&￿neS p¥ils fr¢)m Ill bdwund¥ •nd actts8 to th¢ dUrA￿on otyerd is not t¢￿)cted to those that can •lFord thE ff.r4. Thc S&ool offcr5 a r•Thge of 5(aol•rJhips that ¢omc with a stan&rd Fee. remi5sltTh ahd ￿d)ll0￿ fibrt>r m¢xL¥ whu¢ r￿￿￿ed. Theje include ALa&rnlc, hlu&ic, I)r4tna, Art and Sp(br¢S yddarthips avallable to exter￿1 c4nd¥d4ttJ. Burwi¥l support is FrO￿deA Icr Yistthg pupa¥ where there is a dange of and * nuTnber of bw5aries suwrting children sn r￿c￿l￿r ned. The womotes its m￿rI1 teated J(knlarshipi and buTJafies to pwls from the inalntathed sector through Yarious &ADnels kncludiThg thr. ￿.5 ￿e￿￿te, media rehtkni and erwury prents to apply. CathedJl Chorister5hips. With the as3istw)rt of the ChTter of Ro(thter CathdTrl, we eduL7te the Rorkster Cathedral c.horisters are drawn from Yodly and musi13Uy able boys and wr15 frtsm 4 wide crosi se￿10￿ ofthe comfftunity. All of the Cthedral CJM)risttrJ are of the (e%cept For sotDE ofthe oldcE girls) and for tht public in stsvlcu and in ihe ca&dral. The Sthwl wovides firbandal aÈ$istsnce by way of • fee rerThis5ion to Choriv¢T¥ attendlThg the S(knol wlth sothe re(elW￿ further fin•ndal a￿￿$￿￿te througb meaos-(estedburwiu. SchoolsTogethtrPartnevJhip Activitiw.TheSdJool kneJrabli5hcdanumlr dlinki wlthlocal maintslned Schoo13. and hu offered frlyn diver￿ baLground$ and teatkn the OPF￿tWdtY to work tO￿ther In joint actlY]tl￿ as PHSE. Latin, StiCn￿, German. Aihietics. Po]Itkg, E8ma and 1li5ET events, •¢livldeJ •nd workjhops, rnarby inTrnlvingYi¥itiThg aThd vlrtu¥l yketÉ. The Drama Dep¥rtmthi provfjdw op￿rt￿nItIa for a con8(thm of Drama teachers. focuiing on CCSE & A l£vel Drama. PupJ$ of11￿ xhooli brcrtdth tTrKtreXwieJ]￿Or the w(orming ¥t¥ by *rte￿d￿gthC Schtds, play exh ye¥.

King's sch￿1, RoCh￿tr paKe 7 Schools Together P4rtnership Activitie Our music dwiment on a Dumbcr of ptyformwKeJ ow tomery11￿￿ of the pubkn"4 pcrfumed by pupll¥ of the School. The Stknol'i m￿cE￿illtieI used by K￿£ Couftty FjTrS￿bIt¥.

Educational Support Pry¥tawme. Ivkihin the o)Dtexr of the 0)mm￿nity. inthvldual need8 are ppreciated. The developmeht oFthe whole person Is at the Ltntre of ow e&tdtiohal pixjosophy. At KiTrg's, a hoiepupil gnd wknle xhc>ol apwoathii yotnoled, ￿ recommcndedin SENDCodeof PracticeO.25. Septembcr 2015. The 'King's farrtily. malntiins a 4trongpa5toral supwt within the Forml House structure which forms the htArt of edu(atlonal supprKt. hirm Tutors and C158 Te¥kn are wtral to supprtlThg the Pr0Ee￿ OF pupi with educauonal ￿5. Thc Fdwgtsorjal Supjxbrt Dep•rtmeni is wejl coordina￿a ihrougkout the thl and r￿Porta8 efFectI￿1¥ ityi Ilexlbly to er4bie progr￿. KiDg's School Pyemists. Tht Schod runs and mwntsins a former cound owned yrts cctttrf whith It Fully refLJrb15hed ènd is used 85% of the tsrve by ik•. lool C0￿m￿nIty induding lo¢•] tnwnlaiTd iCLtor schcA>ls. 1 Klnls RcJchc¥ttr s￿rts C￿tre had becy) w to the public dilly Providi￿ subsidi3ed accrsts to high 9uality spurling ajid ektrd¥. facs1itie_I to thc lo(￿1 coiiitniinity. Hoivev<r. due (Tr Cuvid.19, (he Lrntre was c105ed from March 2020 irl linp. with governm￿￿t rt3lrictK￿S rdatlngto lo&down. Iloth knrdl'ng Ho￿￿ ¥nd a n¥mbcr of al￿ other thl facilttiej were. usd by viiitlng laJiguag¢ achools. Tk swlmrn1￿ Vool bttn used by lool xknoly kkn)1 s&[fvd￿Ie¢r to teAth youp 8wimmlng leuonll, swjmming dubs •TwJ lifryving¢x)urzes to Thc SchoDI's musiL, faditlts are by the I￿e#er Cathedtol Chlldreo< Choir. The Chadiiogron 3portJ H¥ll ard its crick¢t np.rj have been reRd>rly thro¥knJi the noD.pliyi )tJ by loc41 dth. 'JbÈ sc￿)1,5 pl•ying fteldj ha￿ bttn pro by I￿￿] knli. xlthl g¥d puplB fro￿ a local rugby club as prt of a Ix>llbcntiTe aTTWt and alvj by ¢￿£cl dubs and the TA. 'Ihe Sthwl'¥ criLct pltth kn be¢n used by Kerbt C4mmunity Crket Girly teams for training and matthta. The Sch(M)l olferi a sed5on ofseojre w￿1￿a nrJghb0Uri￿ thc SdK)ol's Play1￿ fdds for KknolÈ for RYeBi SclxM)l and J¥ working ￿lth a loral Lyjmrourbity ryP¥ Fritn& of WILts hqvddnwj, to outline the tential further usc by al￿£(w￿rnI￿1y thts tlfr, P￿d0S¢d thvircbnmeAt. Sth¢ol Hall w•¥ u4¢d pro.1xx￿ for funttiLW Jn aid of.. I)hy￿ of R0d￿ater, ralsjng funth for Saye the Cthildren. King's School Pupil Charitable Giving. ofthE thrce nominate w charily eath ytar ih•t ivorkB tL the lotral arts, some OF the Ik)weT &xth fundr4￿kng evenli throughout the pr tts rAi%e inoney lo support the work of the t)omlnated cknrity. AU¥e ￿￿1$¢d by tncmb¢rsof King$ StalF. Each of the kn &FWtrne￿ts of th2 SdK)ol orgtsed reyJl¥ eveDts knme dotTrw dys, ¥poo8or¢d evcThts eic.) io rylse mvnty for thts'r chosen charftkn yeT. In 2019120 the th•rlllca wetre.. Pte.Prepartory kknol The DyTr4llt r9)rtory thol Dcrndzi aiml Kent Se/rth Ind Rts(w. S<ninr SdL<x)I DemeJ¥a iioJpk Care for Children Sport. Ily (xjmpetlng In regulv y¢ts Rxturu for both attd giria •gaiNrt atate Ind indyndult whnDkn. Klng's School puwts Ire Inregrated thn the. lotsl see￿, ertCOLl￿f. a knulariry with KJng$ 4nd gener•Uy trknuteto t￿. of o)mm¥nily evcnts.

Klng's School, Rochester pa8e 8

WoT5hip. The O001 actlve]y PTomotC3 the Chri6tiaTh hith and prinoplcs (with ¥bJdy of RS to C)C.SE for ajl pupils) withfA&dr41 ser¥ittJ tornr￿bPx1QrthC publie. The&hool I￿￿ote6 4uality and Inte￿I￿On. The Cathcdri Choristen. The.rA(M)I' prtyJ￿ u)D(%rts and wy1(￿ th1¢ore held in the Lathedr41 and are Jnade. availablc at Do thc lool cotntnuniry. Teacher Training. K5t)g'6 otTtr¥ plwmtnts to traiDeetrxiws from Cthrist Church Univer￿ty Cahtyybury. Local Coohmunity, The scknl of the Medway CulturaL an actlye parttcipant kn the Medway r.kmFlon$ Progr8mmp ¢0 promote Medway as 4 to live. ¥isSt. w¢)rk #nd Icarn which contrlbuici to devdopng the eu)noEny of the lo￿1 o)mts)UD(ty. t￿rIng the lockdown wiod. the DuigD & 'Icdynolw l)tpathemt manuhctured nearly 51K> fkrx viaori and the?e hAYe bEtn di¥iril)uted to lool hoèpit•15, orc homu. GY w•cti5u, dthtsl 8tJrgesltt aDd piurma£i¢s, all rcclpie￿￿ have bcen hugEIy 8rtehJl. Membcr$ of the IoL>] community art invited and Mcouroged tt> wid) the Kingm Chorui (free of r.hargt), Yhich dut to ￿rf1)rA] the Brahms RtAwifJn on 2.5th I4arch 020 the ci'dji wa¥ caiicell.d dut to t Economic lrnpact and SaTrings to the Public PuTr3e. Kings Scknol CUrren￿y cdur4tr3 6(kn Children reJievlttK pressure on Icw31 scknols and iyith tto dalm on the Stste for sub%idy provided foT p]ttt at malntslhed Sd￿1. The Sthool doesnot red￿M •ny VAT ch•rged ort its pw(knst. of Jupplk4 wd servicrs. Thr. SLth(￿l CTnploy& over 250 pcople ItX711y It 411 1r.vels of t¥npltsymenl and the &JMw)l buys Js many ofour oods and serylcu l(xJlly as w)￿￿ble contribuLinR furtlw Si￿&1￿￿t fmancial iJDpac( indirrtdy. An [Thd￿eDdenI .ghool Counril (JSC) EcozJomi¢ Survry in&cate.d the adds over £6rn w annum to the lorl economv. Fundraising ApproaÈh and Perfotrtunee Througknut the year the Sckthi communlry of 8r4lE. a)Jd p#ents UtthtakedAarfty hthdla￿￿g aetivitieJ induang qui?. nlghts, dassrootn o)mpeutloDJ, 8pori c1.￿ts, okw) D7iC J)ight5 lld ots fwjdraisirtg events with wpprTU ￿lltact in line with the h]ndraisiThK £￿t OF PrartlcE ￿lbY FwJdrJ8lng Ryhtor. Our h￿kaISing prornise W¢ willonlJ to4¢oe¥ry JJ havi ¢yprwd in our w¢phvvyou. Iv to &dl,. Jyou dJtTr8¢howTrt wtiljru, orAop. we will rw Wt coJd.callths, knr or0redJ￿ttI,. All ortlltl¢Tar¢oyffjfiir. hon&¢ andlyl. In 2019-2020, the School worked with the Demd7a HoTlce Care tc Chil&em. Ket SeardL attd RuALe and Dog'B'fru8t. We ha%e r¢knJsi polilau bl pl¥e wkn dtsibng pcople and do notputthy weBwre on our donoti. Yo complainrs about [L￿drI1￿￿tIcl1Vfjty were re£eSved in the year. Overall fvndr•iJing TrfornMDce during theyear £2.2fKI S¢nu)r SaK￿l Clwity. Demtha Hojpice Cart thildren. £1,545 Preparatory Scbwl Chthty. Dernd￿ H0￿C and Kent &. Rexue: £605 Preprntory thol Clkrity . Trust: ¥od £2.09S East Afrkx CkTartsies.

Klng's School, Ro¢hat¢r Group Structur¢ •nd Rtl*tionahip• Unlting Directions hay¢ bEen iI5ued by the Charlvts Comml84on ￿lOw1n8 the coinbination of financid information fur ngs School knth&8ter, Rothster Cathedfai EndowmMtTrust ('RCKSEf'i and rhe Geolyrey Harrn8wor Charltable Trust. RochcJt¢r cathedr￿ King's Schod Endowrnt Truxts a sub¥dtsTy oFthe Ckniry whrtt li ￿ to ￿Thd prlzes. Roffa Lirnitedisésub￿dldTyC0rnPofiY Y•knKaLtivthiuaredetailed kn the AccountsatNotp.4. Where ¥Tlicable theo)mpany trangfers taNable wofits by Gift rtid ￿ ihe khLK>I. A eub51dlary (&irity was XK)9 n¥me of 4Tr Old R0EfeMt￿l WIKJ did durlng that year. The Geoifr Harm$iYorth CharIt￿e Trus¢ proyidrg fi￿DeAl svpp)rito famllbes sutTe4Jng Enandal h•rdHkn"p.

King's S¢hool, Roeh¢ster pag¢ 10 srRATEGIC RWRT REVIEW OF ACHIBVEMEPM LND PERFOR.MANCE foR TIIE YEAR ISI lJ)spectlo The JSI Ir>5peeUon in Jartiw 2020 fouThd kSng4 to ￿ 'KrcelleN in all{r¢￿'. All thrtr. wts ofKing'i-Nursery and Pre. I¥epralory &thMI, Pre￿rAt0¥Y and Senifbr School were scruiini3ty1 far the qulliiy of thcSr work with wspiS8. 2ckrnlc athie.vemtnt and developm￿1 ad WCU-I￿nK¥nd finafjn￿ in e.vuy sectitsn iveie firsi-das5. Oi)crational PtrfotlllaDeC of the School CA>Yid-1g hd a major Impct CD the.W's operatlorts and tvenu from Marth 2020 wAtb the immtdiate tnove ts) on-liDe lejirnlng kn all pup18 from age4 3 to IB tr) (Wiltm￿ tdur%LtL￿￿1 ex￿￿entr by Kin¢¥. A iR.ve] examln8¢5urJS •nother exrtMuilye4r of rewits. The over￿1 p¥u rare was l(Xn6 with d)tslnit)g A.B rtbuli3. 5(P/o ofGC..%l'". yadc¥i4'tre aL9-7 and 45%olthewTrhJrtgainiDg lettlAlfoFthcir ar¥des it 9-7. Tl principle destinati(>n for leaYer8 lThJ as4in hren vnti'ersities. The. Pr#praLory School maintsin5 a broad curri(JJlum thrwghout the. school. alloviitig pupi18 to expe.rlence a range of acadfrnic, s￿rtIngy mwicai and dramaur. subjects. The eX￿len￿ ￿)d breadth ofthe Lwrriculum evidenced In the I Irjsperti'onin January 2020 Whereal1arc￿or the sethcKJl Ivcrtjttdgtsl to be'ExcdleTrt'. ThesckoDI adieYedÉom¢ ex¢ept£0￿1 I l + grammar ¢chool entryr&wltsnd th¢ usc of InCASandMidYISd¢ta from on-llnetests￿T¥Jcea byC.F.Matthe Uthiv¢r5ity r Durham Ceiitre. allo%Ys for cloxe monitorfng of ￿pIt Wfnrn)ITh￿, crwrAng that pup￿%, aEpirationJ ¢stt¢d thf.ir haseline. seve.ral pupilJ play wrt at county or Datkjml levd aiid several musidanB are {from Year 5) grnde 5 tsr aboYe.-, ABRSM music arbd tAMDA exallu luiuld not take Pla￿ this yw due w COVID. 'rhc Prp.-Preparaiory Scw. inrjtsdlng NurJery> C¢Kbiinues to oIfer¥rJ txaiing aTr4 voyied cuniojlurn thr¢>ugknut theschool. I'hls mcans pupll$ ¢X￿lentr g ofJubJectB inau(kng, Gcrman. IquJi¢•ttd Sp)rt aa we.ll a5 ¢oreltsming Tlght from th¢ stsri. 'fhc school tr&¢&¥ ujing produced and 4Mlys¢d by CEKI at the Uniyerslty of l)urharn LentTe. In NUTW. ASPEcfs Is uwd to th)w how eath C￿[d has dvthg thdr ttme In the #Èttins. In Retytioty. BASE Is U8¢d to benchmark our cblldren'g ￿formanCe a￿l￿t a¥tngeJ and demon6tratrs the prO￿esS tknt e.aeh thild h mgde dwing the year. 'This year. only stari of yw oNurtd ITh ix)th Nurwy and R¢(XPllon dtse to LOVID. 14owever, It remainsuseflll dala. Year 1. 3 use InCAS darawhtrhtrd6 tFwpupll$' wform•uceyeJr on year and￿Vid

ge-stsndar(bscd and ¥t.equiYalemt ￿OrrI tad) yw pryess is m?&. Ballet. ABRSfvI and LAAIDA exams vernors TepDtl tkn the CorV￿)Ild1ttd acUvStfes of the sd￿1 had a &fKit of £3(Kl.947 b¢Fore Inve$tmcnt gainy in thc 12 monihs to 31 AU￿5t 202012019.. JuTrluJ of £66.l21). IJ￿rne. derscased by 3.6% •Da eX￿￿￿"tUtt la￿elled by 0.2% followi￿ Intye•Jed educaiiots ¢perting L>Yts. lniertmc￿t in marketlng malntained arHI thiprovelnents to thc S(knl'$ buildinsf#brie wid o)mputer cllntinud durlng the Roff• Ltd J trading pformartLt duriDg the ￿ was affeded both by the doxfjted level OS tr￿tr￿ rei'enue and of costs assoeiated pr0thdingaub￿0￿ use ofthe sP￿ts Centre by the Sdx¥il and loo] ctiitirnunity couplea with theimpact or Covid.19. Sinx March 2020 tFt Icknol K41 been Working kn an cnvtronmt*t that ts wmpletdy diffcrcnt to previoux yeary as cO￿a-]9 impacted dally oper4rions. The Jydtionai lockdown and measures tskeD by tbe dool to (tyiraiu thc vlru8 have impatttd the u¢bool'g rLwLci￿ aCLiVity durthg the ytar. ThbTkng the Mi&ymmu Term of 2020, the Ityct of Covld-19 OD pvforrnance can be seen as a d￿Tea￿e In Ino)me due to a r¢dutdon 14 fees for the tum wbii$t the sdjod ￿te was cIo3ed to pupils. Throughout thia perthod the fouJJed oh thvirtg cost #Yiw ￿ttng with Government StsPPLKt wknes.

King's Sehool, Ro¢be8tsr uture Planj The Str4teOc BUSI￿18 Pian for 2020-2L125 reviewed ard apprDrdl by the Governora tarly in the Bnandal year. Ch3ngvA in leadexihip and management alwg with the outo>me ofthe l& klvt led to i Aew $trategic Ylsion for the next ve year3, the thrce over-Aingglm8 ￿.. tn FutsJreproo&ng K. fora &Jth1D￿lt Aiiure; KiThg'8 •s One Stsw. and Iwl for Ufe. Current key operauorjal Pl￿ ate.. 'To challenge aDd wprMyE eath pupl io m•ke the mort of their rAdcmi¢ ind pwna] poten1511. To a&ieve excrllent re&ult2 through devd¢plng an uquirittgmind aDd p￿10n for learni￿.. To deve.lop iki114¥ qualitics and interuL• throts￿ actiwtits aThl ￿￿}Muniti￿ beyimd the cl&¥room,' 4. To be a nwturingcomrnunity that deTrdops luc5 Vithin the ￿ttingu[ Cknistiènity? 'lo comtnunlcate etTeLtiveJy to uisrtTh&and proypectiye rnetnbus vlthe School wrrtn)unlty' 6. To cnrure strategi¢ platiii)tJg and ftiianaal sini¢tUlCS3re in plaix wljid) YUPPWt ojrnyjt ind IuLure dL'YLlopiiicnt' 7. To maintsin a m¢tiv•ted Ind cffective tcad)ingand 5UPPOrt staft.; and 8. 1 ts have •ts eng¥ged •)rt effeuivc strucure nf Icader5hip and￿nCe. Due to thc itnpart d COV￿-19, the GoYemor5 tothmunitsted to FWth¢S in April 2020 tkt th¢ deLiik>li had been (Tiade t￿t to iThcrew the levd of fees at the $rxt ofthe next a¢xdemic ycar. Pupil numbers to &te knye remained iy)n8i2teDt atbl &splte theTe bJJ]SnOL]rrtrttlcD￿thC Governory derAdcd todday any major ¢apÉta] p." jectj until fuiure years. 'lThe ¥dJotA tf) miDimise the imFAtt of any LDntinuillg disryption tsuÉtt] by Covid.19 by eniiidngthat ca4h re>urce$ ar¢ ltt platt to operaie su(USStully. tiDv¢rniJfi ¥re confident th•14Jouid It woT¢ Dc(rnarythe sd￿￿1 will conllttu¢ to woyidc a Mgh-waJiryrr.moteLurricu]um to ensure all pupus wdl eontirlut ihe.ir caderni¢ Vogre￿ during Thy fUll￿e k)dtdown ￿ri￿1. Al¢ngxide this, th¢ Ich￿1 during remote learniDgto datehu dfth'vercd hlghly enygingrtmote co-cwri¢darnd wornl progrlrnme which CQDatitute E￿11 aD edu4>doNI, o).curricuhr ￿ paoral al￿￿%￿k. AckMoledgethent Thc Goyernors wish toreLcYd thEir thanks the Prlrteip(. of ea& sch￿1. tfAIkn andAtI Sdjool ststlfor thrir loyalty •rA ded]￿tion, Cl￿tinuing hard WOTk and pp)rt.. Re5¢rve¥ Polhcy The Ciroup has total reseryes rf£14,042.¢M>3. thrx iThAude bThloTNtd Furt& dÉ2,291,59S. Reatricted Funds of L6,920aThd UnrèrtriLted FutL(ts of £1 1,743,488. 'The Resetve8 Policy ofthe Srthool beeth kncd Sthoo]'$ obJectlvu. Its feature4 ¥e.' •) 'fo •dJleTrzamargStt ofworkittgLypitsI ￿ffi￿￿tt0 cn&bkall ¥&FfCts ofthe Sthool's work w be cA)nd￿￿4 in an ordcriy und eifitient moner wi to dcai itkthe mgnagerntJJ¢ Oft￿ &4Jool's ￿lId￿ milDtenant progratnme. Ind "b) To wovide resourccy to fund the School to provide Cover fror Ufltxpected or unaYohlabl¢ Items of eX￿nd1￿￿e. In order lo meet thccrltuiiJn{a) ￿dIts) aknYc.d Go¥cTnc¢s th•tthemlnimum targ¢trdkel of re8erYesdewed l¥ Ds follow3.. WorknThg opitl of£l.6ffl. or two months, exFnditiire. S￿r￿dbe ry4xexnted by liquid rcy)ur(u. When Ltthln Rxa 8S¥Ets totr￿g £IO.Im ￿ dcducièd fr¢xn unrtstricted fund5 this glves tist to free reservu nf£l.6m. Due to Covid.19 un(trtaknticJ, the ts therefo[¢ to rna*ntsin ixsildJTrg up regerveg OfAnnu￿ optrating surpluses It the

King's School, Roehesttr page 12 curtent levd of two m¢Jnth5 e￿ndItUTe, wblert to the prSor demaThl$ of fijrthcs <8pltAI expendiwre io cqulp the.¢Khool with the up-to.dato F&db"ti¢% needed to malnialn the rtan&rd of ta￿¢11￿•￿ serviw Liwrcntly pro¥ided. The Sd￿)1,1 RuT8Jry Jwnd whi& currendy 8tsnds at £1.102,417 Irknign•ted lithd) Th7É estah1l8l￿ with tht objeLUve vf 8eTheratlng InvatmcDt iThthme to Jupwrt ihe hmiliu of existing ptspils 5ufYerin8 fioanc4al hardthip and to cnrol pupils whv would ritherwi3ebe. UDabl¢ to affordtoattcndthp. 5(knI. "AILcfund to date h•B ttlnvesttsl all I￿￿OMe gcnerated. Its inedium terrn nhje(iYe. 15 to irtcrea3e the Fund to cnahh. it toguwalc In 3WlLral incvme in supp)rt of thc alx)vc d>jettivu. lthYestftkcnt.Policy and ObjeLiYc Tho Br8rd mixlmlse the total invatrnrnt retyjrn within the. obje(xi¥ea OfmalrttsiThi￿ inLYxne without taLing undue risk, while rJ)ntinuing to presetve tk roal va]ve of r￿d01¥ed Snve.$imtDt% ind to maximist incnmf. nn invcyted resirirtcd rundi. The tsf ihp. SLthool's funds to rt.vip.wtsl rtgu]arly by GcJtxnnrs. Thc School's yimary iTrYetstment rn3na￿r Ruffer t(wJk a outiow investmejjt strat￿1¢ ￿1110￿ duTing the ycar givr.D vlew on the woildwide eL77n¢)my and ￿l•ll￿ unculaiDty ir• thc IIK. Aclual mar￿t wformanr£ on returns iyerc in line. with re.le.vnt markel Indicp.s. Tntresrmpnt during ihe. y•r ¥mviiilt 10 3% of o￿nIng value. Ri.%L- Managenient Kin&,$ YLly)ol Board of GoYernonlsre8poThsible.fortheman¥ement tsFtk rtsk$f8e¢dby thé Skno]. l)etaTrled o)ftJider•tions ofri5kareddcgatedto the PID￿tea￿d ES￿￿5.￿￿.ComM1I1Ce, awstrd by the ￿.xt￿kn tiY£ Board. Rtsks areblenbfiÈd, a85cssed •rJd wntro15 e$tsbhthed througkntst the ￿. A fornrni review of the SL4￿1,¥ rtsk mana￿l￿ent pr(xY3$es 1% undertaken on an annual bigis. The. rnèjor IM>tentiil risks idetttlfi¢d art 4ddrca5ed l)y Gotrernor wb-oxnmittre meetb)p. During the year these ￿SkS are di8cu8sed in detail and monltored loractilin ￿ tKceswy. Each sub-cotntnlt¢ee rwrts to the Gu¥erning Body. The C¥overiiurs C0Th5ider the m•Jc* potenthl r6ths to thr Scknol arc:

eA>Yid-19 iesvliingin l￿tiO￿d thl d￿re aftdwoviwb) Or(￿-1￿e le4rtrJ5ng: A &ller•ging eronornk r2ivironmcnt duc to C￿￿d-19 whlch Rnay LTeate atToraability issuL% fgr paremtx Which ffect pupil numbtrs. ftc 3nd exws¢ levels and greater wt on burwylknrdsldp fwi&. Furthcr knLttases to pensjon ts)tstribuUoTh Thtes and chaThp to ￿er￿l repayments. 'ik un￿rtaInl1￿ 4foufLd BRFxrr on p¥1 numbtys from the bJr0P￿n fo)nomi¢. Area., Politi￿1 uncertainty and the o)nse4Utnces of¥xy xctc¢ sudb as the Impoaltton of IIAT ots xhooi fecs, remc&¥al Orbujin￿ rates charitsble rclief. It￿¢10￿yy yessures on eenain C￿$. Competition from both thdeFaent and 5tste dtKJls for pWIs' Safe￿ardIng%￿d InspeLtioN iti an Iwesingly re.8ulated enthnmetht" knd * Ri8k martagement ofHe8lth Safety. The Ley u)Thtrols ￿￿dbY the &knl to mllLgate rish indude.. Forma] agtthdas Eor all Committee #t￿ knrd 4(kvity: Detalled terrn¥ of reference for all CommJttteA' Esr?b115hm¢nt of a ruprLSive Cowld-19 Cg>mmLiiee" Compre&¢b$lve 8trategh¢ plantsing, budgdingb foreoxing ndm¥wnt a(ts)wtting: Robuxt ott.line learning thd blthded learning VOViSilAry5: Health & S•fety committee to ￿nsider ￿trtIlE Investment In the Kch¢)ol'¥ m3rketirJ8 and Ll)mmwLltttiom f￿￿110￿. Eatoblithed org•n&tionai StruLurc And line5 of ¥eporting: Pormal written Tdldu and 8nrJval athwtTbee monltoringas •￿te. Cle8T authorbation and appronl leve15 Safer reLTultmtnt ai r4uired by law for the wteLtm of the vulntrlbk: and SiatTtralnlng, th(Id Prett￿on and S*feguardin¥.

King's School, Rochester pa8e 13 In recent mohths Covid.IY ha5Jmpaded both th¢ fJnaD¢ial atA operatlon•l t￿orM9Thce of the school ￿U¥l￿ the elosurt of the Ychool ¥ite to pupils. a wctessful n￿e to onlirt¢ learniDg and a reduction to Mid￿mmer Term feu. Thc recerb( ISI )tl4>ection plus exccllent online learning prOY￿￿￿ a¥istcd iii hol￿ng up pupil numl)eA •nd rhe Coyernors strlved to rnitig•t¢ th¢ ]osE in revenue by Implemenungctyts ￿vIng4 where p0$5ible long with nwking of Govemitxnt yvided support. Through the rljk man￿￿m￿l pr￿2$eSe&ubIknl by dLe Sd)tyJt, aovernors¥te satisfied tht tbemijor risks Identified haye been identified aDd ad4uxtdy mitipted where ￿. It b r￿nISed that ￿ste[￿S caD only provide rusoDable but not boolut£ ¥swnncc that ￿lOr rtska kyc betn •dtyytetym•na STATUS AND ADMINisfRATIOli" The origin of the Sch￿1 date¥ bacL to the foundatiorb of a monakny by St Jtsiius in 604 AD. King's SdK>DI emergLYI ditstSnrt entity in 1542 when Henry VIII dkndved the Monastery and re-fovtKI¢d the Cathedral Gr3znmar School. Fotsndation h•8 been amemded during subsequet yws. Th¢ I1￿111¢Y OF the memberD is Limiied by Guarani¢¢. Detsili of the Charlty's Govern¢)rg and cxeojtivt cIB￿lIfe lijted on p•ge 2. 'The cth•rlt￿S ldtew artd partwlgr¥ of the Charity'5 prof¢saivn.Il ad%'jxirs aTe &'Y¢D on ￿ge 2. STRUCTUft4 GOVFRNANC£, AND MANAGLMENr Cofverniog Document Thecharity l¥guYeTnedby its me￿ artd Attidcsof AssoC￿10n.a0Ptea0n I l Ortdjtx 2(XM) isamendcdby Special Ruolutivtt on l) Nove.mbcr 2015. Ap￿l￿t￿t￿t and ￿-APp￿tIll¢ll¢nt ofGovernor Th¢ Schcrne apprDved hythe Charity C￿nmI8￿C￿ wovidtsfor a￿￿￿￿M or18'1'T¢jS￿ rc avYeTb)ors Df the Schoul, oDe-fifth Nominative and Lo4)ptatiYe Govcrocrs retir¢ eath year. Thc CvernoT3wovld liktto t¥kE thisopportwiity to thlnkhlr John fTanklin (wknTetircdin Ayst2020)nd Mr#A {iYho rcUr¢d in l)ect.rnbEr 2020), for iheir hard work. ddiixtion and iupp(t. Recrultmcnt and Traini￿ of Governors Tkn Charitls elrcied GoY¥rnor¥ are 4wiThted at the tlni cdin#ry Meed￿of &Covernor5 followlngthè4r nomination or e¢Foption and a vl$jt to the. Schwl. Pro¥F￿'ve Governors are ￿PPlIer] with a pd OF IhFonnatlon Is rea)mmended by AC.BIS (AsJociation OF GDve.rning Hndits d IndeFndent kknls). 'Thii inctudrJ Charily Cornmts5ion handknok CC.I 'RU￿nsib￿lI1t5 ofcharity I'rultecJ', the &thool'i Memorandum and Artidts ofAJviAtion, the. PrcTertuJ, hst of staff. mapx of the ￿kno1 Ind rec¢JLt Goycrntrg body meeong minut¢s. During thwr Brst ytaT and annwlly thv.reafitx Goyerrior re In￿l￿ to atiend courJe¥ yiuored by AGBIS )d 011￿8. Inad&tion. ad hce thtrglc phnttlng ¥NsioJu art hdd when approprlatè. OrganiyatiOD41 hlaDa%em￿È Tkn Governors, as Iniyi¢rs of tlx Chthty. •Te l¥lTry t￿T¥ll)lef0¥ the orttsil I￿N￿gEmenta￿d Lwtrol of the Sthovl, and meet at least four tiines o yeatr. Tk work of 1mpkJT￿jLting rn(ot of tFir w)lititJ Is L7rrd out by thtr¢ ¥ub-commi¢¢ees, each undcr the of a CJovernrK. thwlng the ycar Ihe Flnann Run￿et$. Tbe Education & P•storal Sub- Committee ha¥ hccn by Mrs A Roux (and WAJI bc d￿red th fUt4￿c by C Ikndt) m¥ets tcndy* It revAeiYi

Kimgls sch1￿4 Roehester page 14 educatlonal I￿aLter5 and Inspeoionfindingo. ThereJrLii oFtath tsf the Jub.coniinittees has bcth drawn up and grcNI F>y the Govcrnlng Body. ofthe iub.LX)mmlttcee reyrts in detsil to the Govtxtiing Body. "lthc dly to day runthithx of the.￿h0o1 Is a￿£￿ted to thE ExeraJuv¢ 1303rd, det2115 of whiith are listr.d pgc 2. FJ¢c￿lYc Boird rnerniws attend mecLth8s oftbe CJoVrr￿kng Rody and the ￿b-c(AnmlI￿e$. Kry h(•n•gcment P4y Policy Mi18yJ￿Mt￿yP0jlcyts deternlittd fin 0)njuhctlon￿ththeCoVe￿tt0rJ. Prin0￿1 and Burw •nd tskexbbto a￿Oi10t￿1rretht marke.t demand for pupils LD the Sthool'a catchmrtht arex. tht financtsl 5tre.Trgth of thc SKtstsol, the eL%)nomic oiitk>ok aThd the going raie of remuiioration, fnr senior nianawent relnuneratlon in the indtpcThlent rnarkct in the aouth eart ofF.ngland. The key managerncnt rol￿ are de3ilcd in note 6 of the ¥cu)unts. Employment Policy 'I'hc ydiool ig an OPWLuniti¢x employer and pwititrely en(wrap ¥pplirntions from suitAbly qiialifii"A ètHg tlsgible L7ikdid)trs re￿rdlesS nf gts, racc. &Abdity. ￿X￿11 orieotsllOlI. pd¢r rt3s9ignmeTht, rdI￿0Th or be.lief. marii•l ststus, or prcgtt•nry and mat¢rnliy. CoJJ%ultstion with .mploytt4. or thar rwuthtative$. has corttinved ai all levejs with thc aiqJ DF tskjng the wiews or cinployetrs into tttsint when aeds6ons are made tFAt We likely to •ffÈrt tkir ffttitLYests. Employets are mqdc aware dthe rJninci312nd e4x)ftiMnicwformantrof the Sthfjol. COrnmuDi￿ts(m with employeeh Ix>nlitLues through normal rna￿￿ent Variety OF Form4 and ￿10 throtsgh v.x4)tionl dMnTheis to appr1￿ ofujrrcnt is8u¢s. Three. e￿o￿pIc& of triefJTrgy A5yoved by thc GOY¢rthj￿ &)dy In the last year #rc Cbild ProteciioD Training all x¢atf, t￿ GDPR regolatkn trainit)g on record ktrping di￿ wLKusing•nd fir¢ QXiin8uLther tylin1￿10 all stitT. Statemetst ofTrustees' Re5ponsibilitic The'l rusteu (who aT¢ a150 the dirertors for the cnmpny) aTf. wbje for pryar5nK thp. T(fOrt %Da rhe firAtThl ¥tstet¥tents in att4)r(lI￿￿ wtth app]￿ble ]aw •thd IIK GAAP. Company law r4utreA the T￿￿e￿ to ￿￿Te knanci•l for ea¢hfirAnd•l year. Under th•t lèw the Tru%tees haye dected to wepre the 5tatememts in accordarre with Unlt¢d Kingdom G￿trallY Accepted Accovtbting Pr•ctlL¢ (United KIngd¢y￿ Ac¢ountlngSt3ndards andapplic2blelaw)- ccmp¥rty lawthe Tn]8te￿rn￿t notapwove the fin￿¢181 atatetncryts unk$$ they re. soti$fJtd tht they glve • true arA fair view of the stste tsf ffalrs Df the. thmpany and the GrDup amd of Lhe inwme and ￿n(hI￿re of the Group for tIAi wkMI. In preparing thue finanaal thttment$, the'frusttes are r4uFred to..

udect suit•bleaLrouTttimg￿liciea and then wly thcm conthndy" obscrve the met1￿9 and wlndpleb ofthe Chuiriu SORP. make judgements indesthnatrA thatare re￿Nb}e and wud¢n¢. Jtate wbttTrr appltoble •ccounting 6tndards have been folk>wcd. fflthie¢t to ny m•lertal departures disdoied and cwained In the fiw(xl ¥temeiits' and prepare th¢ fin3ndal ataternents on the ￿lAg 0￿Cern b￿$ unltts It b it4py￿rIate t9 FKesume that the Gro aDd cOmp￿Y will corttiuuc in buiiness. The Trusttts are reTonsible for kwng idtgWte artounting recorda tFAt are 8ufFLde4)t io iknw and exp]ain the cornpThy and 6rotsp'y transactiorbs artd dtsdose with rea¥>nknle a(ruracy at any time the rJiW￿ F¥)2itioD of the company and Group and ettable them to ensure iknt the fina￿117 st•remeN¢s Comply wlth tht Cornpnl￿ Ao 2WS. They are alEO T￿01￿16]e For safeguardiog the a55¢ts of the ￿rn￿ny and c￿P Ald hence for takingTe4soTh•ble 5tep8 for the preventlcm •nd deteclitsn of frwd aThd other trry]arStle8.

King'j School, Ro¢hegter p3g4 15 So f4T ￿ cath dthe Tru*ee¥ 16 fbne tkrciKKti¥ apyoyd..

there is no rdev¥n¢8uditknformatioD dwhlcb the comp•rfs Iudtwrs •reunaware' and the Tru8tec5 have taken all that they oU￿t to haye taken to make themKlv¥ *wtre oF•ny Te)eYant gudit Infcrnation and io e1rab￿th tbatth¢ au&tor5 arc awar¢ of that informatlon. ThlSre￿rt, which itLcorwatu thc Stratgic Report: iY4J wrovedbythe Boud ofGovcrnmon 23 Marrh 2021 indsigned otb &ir behalf bv.. fvll&<. J A Shidur rl)RGra R￿lStered Office Sotiq House Bolev Hill Rochcster Ke￿[, MF.I ITE

King's School, Rochesttr pa8¢ 16 JNDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF KING'S SCHOOL ROcHE￿ER Opinion Nve have ?ud¢ted the Rnatitial statemtnts of King's khool, Rodw¢r for yt3r ended 31 Awt 2020 whith wrnprise ie Coiisolidated Ststeinent of Fir•ncial Activjties. the Chariiy aDd Group Ba1￿ce Sheets. the Cortsolidated Cii5h Flow StatcrnpJ)r. and note5 to the finanoal 5tswnents. including a summary of sgrrifLant"ac(x>urbting policies. 'The Einanciat reporting fvamework that ha5 been applied in tFieir preparttion isapplirable lJwand Unl￿d Kingdom AccountittgStanil)rd5. ihdiidiii£ Finanttal Repoyting &andard 102 7heFIJ)tm£i¢71 Aewrny Staodt7rdrfitsth< the UK eTrd ReP￿lIC ￿1{￿14￿d (United Kingdom Gemer￿tY Ac+ted Actourbting Prticti¢e}. In our opinioD the firL4fo31 aterncnts.' ite i ts'ue and fair vie%v of the stale of the￿0￿,5 Jnd ofthe went tharitsbl¢ compny'x affairts as at 31 August 2020 and of ihe goup'¥ tsei mDvemeni in fund5, induding t￿ inu)rnc and expepdilvre. for the yeai. then ended., have bEen pryrly wyarcd ith a(o)rd4re with Ilwitd Kingdom Generally Accepted Actwntijg Practice: at)d hJve becn wep¥ed in accordance ii'ith the req￿irelknents of the CoinrAnies Alx 20J6. Raxi Ioi. opinicbii We C￿ld￿rted our audit in ac￿r&I1(x iyiih JTrterTharional Standards on Auditityg IUK? IISAS {Uk)) aod applicable law. Our re$pDI)sihililltr.R under those siandird$ are further described in the Authrtsr 5 re5PDvsibilitie5 for the audit ol the financial .iiatctDenr.I secrion ol. oijr ￿t￿r¢. Wt are Jndwd¢rt¢ orth¥ group in 1¢X￿dan￿ %¥¢th the Lthi(31 ryujrements ihat are rdevant io our oudlt of the fi￿n¢1￿ stat¢menrs in the UK. iThrJuding th¢ FRC'S F.thial Standard. and w¢ have fuifilltd our rlief ethiol rwon3ibilitits in accordance Mth these requbrEmenL_ We believe that the alldit evidence wc have ob￿lDed is Sufficient ènd appropriarc ro a b3"5 For our opiniorl. Re$pon5Èbiliti&8 of trusteès for the financial statements As txplalned more fully in the trustees rcSPODsibililie5 s&iemeni. the trustees (WIK) arc al￿ the directors of the chaTi13bJe cori]Pany for the pUr￿SeS of laiy} are rwnsible for the prewaEiDn of the firsar￿JaI statements ind for beijig satisfied ihaL they g-ve • tr￿e and falr vie%¥. and for suth iniernal conirol as tht detrJminc is nccer) tty enable tlie preparjtiory of finatioal $¢attm¢nts thai Jre Free Frorn matertal vni5Ststement, i¥hether due to fr3LHt or error. ITh pi'dpring the finanaal 5taternent3. the En15￿tt are reSp￿ible for sx55ing thc gtsup's .the porenf thr5tiible compny'5 Jbiliry- th continue 3s"a going CDnLzrn.'disdosing, 3% appIiL7ble. mJtter5 rel•ted to going concern and L¢gin8 the go)ng conttrn basi5 of accounting unless the trustees eith￿ intend to IwuiilJte the ￿0UP or thè PTerit &ritsblc cornpany r Iu cèase opeiavon$, ot h3¥e no realistic ￿trI￿alIve but to do so. AuilitOr'5 tesponsibilities for thè ¥lldit of the fityaocial $tatemeBts Our objectives are io obtain r&wfiable irufattte ivhetlivr the financial starements as * who]e'¥re free from mat¢rial mi$siatement. whether dut to fraudor wTor. knd to i56Ut arb3udiior s reportthaLirHJude50ur opinion. keA50nblea&wranee 13 a hi￿ leyel ofaswral)￿, but is #ot¥ suarafttte that an auth"t conducted in #ccordance with ISA& {UK) 11 alway deteo fflaterial mi5statemcntwl￿n Iti￿ts. Misststements can arise froin fraudorerror and rect)n5idered Mar1￿ if. individually or in the awwte. they could rewnably be expecled tO.influth￿ the economic dttis4¢x>s of u5trs takeo on the basis OF these financiil 5t)iements. A.further description of'our re%￿nSibiLItIeS for tii"e audit ofthe Rnan£ial statements i$ lootrd on the.'Finantyal R4)orting Cotyntsl.'s website ai.. . Thi* destripbon lorms wt oFour atsditor's rwt. Conclusigns r¢latsng to going cotycern W¢ have nothing io r¢porr irt rtsped of the lolloivingmatttrs in relavon w which the ISAS {UK> ryirt us io reprt lo you the tr￿tee8. use of the gotr% torKurJ basts of 5n.the pre￿tIOn iiF the Bnanciai statements not p￿PrI¥te. or the trtsstees have.n0t.distl0￿ Én. the fLnartial statemttkts arty idetitiRed marcrial vnryrrainties th•t may ost ¥ythcawbidoubt aboui thegroup's or the pteDt ch¥itsble compriy'$abili.tytD COntinLie to adOptthe￿1Thg Lvncern b•yis ofaco)untingFor a WilMI of at leau rwdvèrnonths from thc date ivhen'the knanoal 5r2tem¢nts are •utliori5ed

King's School, Rochater p•ge 17 Other inforinatlo The truatfes are rttp0ts9fy1e tbe other thEorma￿. 'nK othtr thformation compriau the inFortknadort Included Its the Rcport of the Truxterj. Our op'nion on the fIThw￿l thtemtDt¥ not o)ver the othu Informadon and, cxttpt to the extent otherwl#t explicidy stt¢d in our report, Ive do aThy form oF35WTan(t ujndwion thereoii. In cont2ectii)n with our audit ofthe FInar￿al￿te￿￿l￿, our rESponsibillty is to read the otkn JJbFormation and, in do￿ 50, In8ider whether the other inForm4tion ia materi¥lly incotutsrent ststetrentj or our krrtjwled￿ obtwned the audiE or0t￿rwISe aEy5 tobe materially miutsted. IF¥ l(kthtsfy sucb m•¢e¥lal itironjwcits or went materi misst4teraents, we are r4ulred to detrtmlne whether there b * matertsl mi￿111¢ment In the hnancd ststenients or a materi¥l rn15￿te￿Cnt of the othcr itbformation. Tf, based on the Ivork we haye pulormed. we eoiidude. Ihal there 1$ a rnatcrlal mi&rtatrJnent of t￿¥ other informatlon. we wuired ¢0 re￿rt t+At faLt. We havt iiothing to report ir) thi¥ re OpiDiOThi on other Dutter5 prucribed by the Companies Act M6 In our opinlott Esed on thc work vndeytskn in the cour of thc audit.. the infonT￿t[un givth in the Rtpott of the TriL%teeJ (wmd) indudes tht stAtegle reprt and the dire(ors' report prep4rcd for th¢ PUTP)gts ol'ix>mpany la¥Yl (or thePiTLanLial ￿ for whi& the trihDnthl statements are pr¥artd 18 Lfll$43ten¢ With ￿1¢ fin411011 stAtr.m¢illS,' and the stra(eglc report and the dtrrcors' rep)rt 5nduded Wit￿ the Rew of tbe Tru5w h4ve been prepared in 4ry0rdaThtr ￿th applicablc I¢￿1 i4uiremtThts. Matters on which M'e ar¢ WUiTe(i to yrt by exceptlo In ihe iightof the knowled￿ ¥Ad undorstsndingof thegra¥ and the L4¥itsblecornpnyand its ULvironm)t Obtained ID the. cowse oFthe audit. we hye not idcnufd materlal m1s8tste￿efits in the RepLYt of the Tru3tee5 {wMch in¢J)rporates the itra1t.gicr￿rrt aTd th¢ dir¢ctory' re￿rI}. Wr have nothing to report IJJ re¥pErt of tlje followiDgrn•ttcri rdltlon to vthich the Comwid Act 2(X)6 re9uTrrcs to report to you If, in uur opltiioh.. 4d4tsate ccountlDg rtcorrfs hyc not been kgjtby the p￿1 d•dtthle oynpany: or the prent thlrktable COiTLpany fjtuncial st4teTnents are not Jn agrttti]ei>t with the 8(x))untitig re(ord¥ Ind rtturn¥', Jlatj) diw.10s￿￿ oftr¥¥rtu' rrJThunuat?Dn yified by law are not made., or we have not recefiyed ill the Informotio •Thd eyp]anaUor•S we rquire for oui. au&i. U&e of our report This report is made g)lely to thE &rit3ble cornpnls membrr5. •¥ a Iw4. In a(tsrhnc¢ ChatAer 3 of Part 16 dthe CompnleÉ Act 2(M)6. Our audit iyork has bcen uNiertthn xs that we might slate. to the chritsblc company's me.mbcrs thtyjt mattei% we are r4uired io 3tste to thErn ID an Auditor's ryrt ajd fL>T othu purpox. 'fo f￿1￿¢ cxtent peitniited hy law. we.do n(Trt awt <Y rwbi]ity to anyoneotkn than &arAtable iwpahy and tk eharitabl company'i rnErThben IJ • bod , f(r our ¥utht orL. tr th￿re￿. w for the ow we hive formed. TraLf)' Young {Senior statvtor? ayditor. rot and on bthaifof Haysrnacinlyre LLP,Statuts)ry Auditor IOQueen Street Place on 31 March BC4R IAG

King's S¢hool, Roch￿tr page 11 COMPANY N(). 3791543 CONSOLIDATED sfATEMffi OF FINANCIALAcllviTI&S (irt¢orpoYatsng Income and EKpe.nditure Account) FOR THB YEIR ENDED JI AUGUST 2020 To¢41 Ir 2019 JNCOME AND ENDOWMENTS FROM.. Ineomefrom ¢h•ritahlexrtivitio• 8Lknol feeE re￿￿ble Othereduoxttonaj inry>mc Oth¢r trading activities - Rent and rE(l￿ble - TrndingiDcome IiivestmeDtincome Oohatiort¥ and grants Other inLome .14S,720 10?,735 8.U5,720 102,735 9,029.Yl8 41.578 41.711 2N,817 23,592 563.113 7.950 49,724 274.817 37,797 563.143 188,030 173,124 32,114 57,J72 14.205 Total Jncornt 9J5L451 22,iYS 9,J7436 9,722,136 EXPENDITURE ON: Cogts oErai4ing funds Trling ex￿￿ lknterettpbpble 431.826 54 431.810 431026 54 431.880 S36.232 S39,028 ttablt activiti - Edvotiorj . Pr¢￿￿￿ Welf3re . Supportaf Idwli - Grthts. AVTrds nd ylyÈ Tvtsl ¢haritablc exTr￿1￿t Totsl exwdliuye 5.897.873 ,336.623 643,491 1.327.2S7 5.220 9.210,464 9W2J44 5.8Y7mJ 1,3SS.140 6¢1h91 1,328,248 18.9S1 9a43,703 9175￿81 5.742,706 1,35.1,472 761.W4 1.239.$4Y 19,456 9.116,9B7 9,6$6.OlS 18.517 13.7Jl 33.239 332J9 Net (eX￿ndi￿r￿)IInCQme btfore InYrslmen 8ainJ Net iRbYestment pi]A¥ Net (wendilure)/ln(xbrnebefotye tranjfe Transfen NEf MOVEMENf IN FIINDS R￿O￿alLatIOft of lundj Fund balaow at I Sept¢mbet 2019 FUNDBAW4CES AT Jt AUGiI 2020 {289,893) 111,0541 26,1 IW).947) 66,121 17.943 (241.619) IS,￿6 (228h831 114,064 (243M9) (22A,683) 114.064 11.987.177 6,920 2.276,$89 14,TIffj686 14,156,621 15 11,743A88 920 4291,595 14.042.K13 14,270.686 All amounts rtjate to eontsnwng &tlvltles. All reo)wd galns and 1055es the Lwfrent and Pri￿ year ¥Te induded In the Stawnent of Finanrjal Artivitie2. The wmp•ratiYe year'j StsierneTht oEFiThancial Actiylties Induded kn note 20. No iep¥ate Incotne and ExFnditure aCc￿￿t Iw heen pri)duEd be￿u ￿ Net Ifrne for Con)p¥w Art purposes Is the sèrne as Net Move4n¢nt iry Funds OD the Unrestrkntsd Funds. The notci on pges 21 to 37 fom part ofthe Gnantsal tstejnents.

King's S¢hool, Roc&ester p4"e 19 BALANCE SHEETS AT 31 AUGusf 2020 Company J7?1543 GROUP 20 GROUP 2019 SCHOOL 2020 SCIIOOL 2019 FIXED ASSErs TaDKible Inveibnents iJ,209,9 2,379013 ly￿9,750 11.516.7PJ 2.2￿),931 J3.807.711 1O,79J,￿7 2,￿.915 IJ,759,860 I I,¢￿2.255 3,391.032 14,453,287 CURRE￿ Assm 3,938 41224S 46%JOI 3,114484 9.472 374,419 2,812,564 3.196,455 J)cbtC¢G 10 401.9iO ¥21￿38 4924,488 280,80¢ 2,588.080 2.868,881 C•sh it bthkand URFLEYT LIABILITJFS: Cr¢ditv.i.. arno¢Jntsfallin£ thx ithin {1.617J14) (l.W14.4251 (1.57S.681 {1.552,744} NEfcuRRFNT ASSETS 1,495.IXI 1.52Z,030 1,316,110 LONG Tthm LIA81LITIBS CreditOr$'. wn¢Jtthts fallingd ¥￿er more ￿le y 12 (I,IML917) 11.059,055) (I.IM2,917) (1,059.0551 TOTALN￿￿U5 14 14.042,LKIJ 14,270,686 I4,￿S,7s0 14,710,372 ReprcstntiDs: Unrtstrirted I'.uttd5 ReArlcttd l undb Endvwed Fundy . Ex￿n￿¥bIt F.tsdowmtnt l•Jnds . Perm4neni EndownKnt fvnds 15a 11,74J,48A 920 11.987.177 6,920 11,767RJ5 12,426,863 6,Y2U Isb 15c I,ZS3,)4J 1,038,452 1£042mJ 1,223,698 1.052.891 14,270,686 1,2S3,143 1,03&452 I4.￿5,750 1,223.69B 1,052,891 14,710.372 15¢ TOTAL ￿uNDs King'sSLknL, Rochctrkn taken the excmplioo from PrcsenD￿1ts uncorbwlidatLyliernErt nrrJnan¢ial adiyiliu UDdei £tlon 408 oFLhe (A)mwi¥Act 2r)J6. The net rnoveJneThtthfunds¢)f the Cl4rity W8 adep￿11 tsfL6M,622 {2019'. surpluB £169.261). TtLe notc4 on py 21 to 37 f(Ym part dthex fmnciil stateththts. Thc fitbanoal stLtementi were apyo¥ed Wmi authored ffor ilwe by the fttsard oFQove¥nors OD 23 M¥th 2021 attd were S&8ned be.low b¢half by.. M&% J A SFA¢4u MrORerf¥

Kingls SchooL Rochester pw20 CONSOLIDATKD CASH Ftnw sfATEhlENr FOB THE YEARENDED 31 AUGUST 2020 2020 2019 Ntt uyh inflow frorn ope.rntiTh8 divltits N¢L rrt)¥ern¢otih fu Investnietllltttsyne attd1ntcrcstrttth￿e Inttrejt payable Depr¢diiion UnrtalfjsvA Qaln) OD inYtstm¢rtlS D¢(z¢wl(increasc} itt ithckj I1￿¢•5¢) In debtors ID ueditori (D¢(T￿lI￿nCreart InPen￿On dtficTrt el r•gh PTOYided by ac¢ivitlr {228,W) (37,797) 54 423,616 (74264) SA34 (J7026) S7.717 61,935 44416 114,064 (12,114) 439.5 {47.943} 14,8SOI (124,.5￿) 16,339 470.110 Cath now from ityve¥ittg artkYitie InYe5tmtht inuimeamd iht¢wt rettlvcd PUrd￿ter Vdngibif. fix¢d 37.Tr7 (114774) (1￿17) 32,If4 1161,4621 (1.645.032) 1,635.503 1138.8711 Salt nf fixed iTrve¥trnents Ne.ti3sh in inVeJti￿ activiti (95￿94) Ch IIoM from financing4diviticy IA>an r¢piytrycuts (69,031) (54) (2,796) Net (x8h used fLDaftL¥Dg ac¢lvl¢lcy' (69m5) 1299,4WI than￿ in L¥gk and cath ￿u1Valents in the C&yh'4tLd 4uivalcnt8 al the beKinning of tbeye4Jf Cash and ishequlvaltnts at theend of th¢year (11426J) 4812J64 68.02 2.580.591 2.B12.564 Analy&is ofcAgb 4uivalents Cthat bknk 3WOI 362,564 2,450,(K#) 2.B12,564 0¢po￿ts 2,696JOI An￿Y515 ofchahguin fu￿*/a¢h£ At #tart ofyta Cath At end ofye•Y Cash atEAnk 362.561 2.450.￿? (69.031) 2,743.533 33.737 1150.L4N)I 69,031 147.232) 396.joi Dtpwlts Bank horrowl 2,696,3111

King'¥ School, Rochester PA8e 21 NOThS TO THE FINANCIAL sfATEhS&YtS FOR THE YFAR F￿DID31 Aucusf 2020 I ACCOUNTING POLICIES The I1￿nd￿ ttatemetLts have b¢tn prepred vndcr the hisroricdl cox Lrrtve￿thn. u t))odified by the. Inclu51oL of Bxed a¥ets investments 4t rtMrk¢t value4Dd rfftsin Fre¢hdd landand bvildingj at revalued lmounts. The fornjat of the financ￿1 4tatement8 hls been Presented to o)ryly ivith the Compnif£ 2{￿. FRS102 ThÈFthan(raE RyNUfty SEttndardypliedble ¢A¢ UK 04d Ittland the Siatemeni ofR¢commended Practice for Ch¥iueJ (SORPI (st￿nd EdiiioTh, eftective l January 2019}. Figtsresire preuentd Jn urerlingand ￿￿ded10 tk ￿arestPoUtsd. fvch¥iry i&• PublicBeTrc&iEniity ?5 defined by FRSIO2. Going Concern Il•YiDgreYiewed ihethl'3budgpAsandfOrt(&gttwithth¢eKp￿aOnty￿dernaThdrCy plu lltthe.EdM)ol. theTru9tsC8 side¥ thit the¥e art no materill uneertaintie4 whjth iyould catt doubl on the Sth01'$ bility' t¢ (x)tttinve s • going In response to the evcr dunyng of the Covid-19 pandeniic. the Trustee5 have rt-vlslted tlLdr busineay plans, for¢iaEt.i ond r4th fkjws to LQYL'r a period up to 31R Auguai 2022 and introdiiLtd further sc[￿illy1t¥ a￿lY￿S Itl OTdLr to aK¢M the upccted PJnJna41 implioiioru for the sd￿1. For¢c&8ts for LY)rern haye ￿￿5[dered red¥rd F￿P￿1 nurrrben Ind a$8rtiated ITrLme along iyith rcduty fwidralsiii8OPPrtuD4tieA for Futur¢ osh Ilrjwwojeaions. With A ptchlially lo￿ rec￿￿. iThvestmcThtsare nutex￿￿cd to perform any betttr In th¢ near Futurcnd rttovtrabibty rftxl￿I￿gdebtsIts torecast ttrbemwe dilll¢dtthaD in prcviou8 ytars. Howevcr, the Scknl haz DO loans in p]act arml ks dthyed any m•lor )rP￿ttd ljrriltd Cotvpatsy atatus and tradSng King's S¢hnol, R¢chert¢r on I S¢ptrmbeJ 20TrJ. SignifJLant E8tiTnaleJ and Jud8eJnents lth prepJrlDg thc4e fi￿ncIal Jt¥ttments the tr￿#¢ea have to make estknitts Ind 2wmpilons tht alTert ihe •nJounts recognb5ed in th¢se A Th4nc41 stsrements. tuimaics and jud￿￿)￿ are 1x￿￿nually evaluated and are b3¥pA on hLtorliAI exFricnLr and other F4ctot¥. Indudittg eX￿t￿)ng of future ¢Y¢Dts thAt beLt¥ed to ￿ rea5[￿le undrx the. drcuin3tancu. 'fhcre Hre. no key ¥eats sthJleL% to ¢slim•tL% or judgtmenl ¥djuxmew would hayt # material cEfcL't on the aixount$, Income AU Incom¢ u knduded th tht Stattrn¢Tht of FAnandl AetitAiies when tht Cbarity is ejititled to the irto)rne, its retr.ipt 18 probabl¢ and the amounr ¢èth be qu•DtiPd with t￿￿. 4￿ry. 'n foll0¥Y)￿ spedfic piid¢J art upplied to particular categv￿É ofintome.. lknnatloos arc accouDt¥d for on a reLYiTrcd b#ts. itgadfA ￿led on • rettlvable b¥i8, wheTh thE thnditioiw OF vntltlemertt, p￿￿4]itY and Dxasuremellt are n]eL whe.re the wobab1ity and/or ineasurement triteria for lega¢4CS ¥Dd domtiottJ arc not 5AtÈ5f￿d aj at tFb•hDce thcet d#t hui subsquent e.v¢nts re￿1Ve such tbat C￿te.ri1 Ire inet. ￿ adjwtment is made to YecwLR thE ]nL￿¢. fwloughlng8r4ttts •trc rccogniaed tsn a re￿7vable baJi$.

KiDg'y School, R￿h¢ster page 22 NOTRS TO THE FINANCIAL STATEMWW3 F(IR THP. YEAH ENDED 31 AUGUST 2020 Pocs rerLival)le indudes b(h ￿7 tuldoTr 4nd other fc¢ry •nd re&ryes, nct vf stholarthip& •nd rcmisxon$, is ccouoie.d for In the perlod Jn wknth ihe wvitr ia Y¢￿&d. G¢J￿ra1 tuitiun fecs all amttunts in rdation to tuition, kn¥dingaThd lunchcs. Invt$bn￿It iNLY)me is actounted for Sn tht in whi& thc dwity ￿ emiided to re￿IPt. Rent Qod Snterest ts a(￿Untedl0r on an actru41s IA811. Expenditurc .X￿nditure arc accounte.d for on an ar£r￿ts ba¥i¥. E%pendAturc is allocated w expense h¢8dings ()n ¥ direct cosr hasis Ccpt for ccntral rA)tt.% whi<& 2r¢ aPpOrti(￿L¥l on the thc GtsFcrnord' ertimatc of tÈmc Epcnt on the rc]evaTht runr.tirJni. ,xptndsiure or> ralsing funds Ltynprtst the costs ¥￿rated with ttyacknig volvotary Income. thp. crY4ts of trading for fundraising piJrposc8 tnd Ilthlnty. tosts. Lharitable expeoditurt ￿mPriSeS those cosis inturred by the (hrity in the d￿v(￿y of 11$ ￿i¥lli￿A and w¥ite5 for its ita¥ics, Ir inct￿4t5 costs thst can be allorated a￿￿llY ro aLJ¥itles and th)se of an indirer natur¢ t￿t5¥rY to $upwJrt them. Supp)rt cost8 ￿ese￿t rtaifaThd otlv th(J]rred in dirrdly wrting the teaching fi]ndion and general running 4)f tTr￿ ￿￿￿01. Cjtsvernantt 0>sts include e.ynditure ott cojnpliance with con3tityuonal •nd Etatutory r4uirements. Tljese

re Included ￿th￿Tr wrt costs.

Grants BurJaries Grarbts andbuT33ries frorn rcstrirted fiinds are Induded a5exwdilure. intbe period forwhld) the award tsgiverb. Hursarie¥ and alloivanctts from unrr.strirted fuftdi towar& fces at thc SchcK)1s are treated as a redu(ion in those feu. Tangible Fixed knets and Depre{￿￿0￿ ¢¢htsld and le41d￿ja land and buildthgs are thdu&d in ￿ bajancc theei •i • v•lwdon by Me¥v8 Burki]l Johnson Mestys Mith￿ Augern, ChattrJed ￿r¥ey0r1 at irlcwraiion on I Sepwobty 1999. wlth •ddit50DS •t)cé. tknt date Indtsded at cost. Eyendkture orb repatr5 and alteTation5 vihich do not •dd valv to thé wiw. ii IknFd to the Statem¢ni of Finandai A￿VItIeS In the finandal year in whithlt is Tr￿￿rred. Dcpreoation otfveehold bullth'ngs 18 yovidd on • slrnh¢linebw 10. 20. 30 athd so ye•r2. Depreryatson OF Icaseknld build,. gs ts provided on a straight ]srte basil over thE Ime-wred portion of thc It￿e0, the remlnlns u¥cFui life ofexh buddkng, or SO ￿ whk&eYer IB thorte#. Expcndiiurè on furnitrjrt and eqtsiwent. ftytyJre5and fittinpand Yehklu with a minlmum project value oF£i (KK). which have an eX[￿tea usefvl life in exc&% of one year, are Jndu&d in the balantt shttt ai cort. Deyeciatlon 13 proi'ided on 5tralght.line basts at rates varying beiiyeen 5% and 25%. Exwdihjre an smaller items Is chr%ed to the Ststement of Finandal Activides in the yèAr ofywStK)n. Iryvc*¢rnent Property The investmerbt properly is induded at f41r value at aT¥ll￿￿on o)mpletedby Ltdgtrrn￿ Llmited {Cbwtered Swyeyors) at 31 Auguat 2018. Fitxatttlai Inuttuments Basic P￿1￿£1111￿$trUrnrnts trgnsaaion¥ th&t reAdt th the ¥eLx¥￿1tiott of finm041 •56cts Irabllitles Ilke trade •Dd other acoyjtytsreeelwable ￿d￿￿ble. èreacoouThicdfor on the fo]bw1￿ ba5i•'.

King's School. Rocluter p4e 23 NOTESTO THE FIN.4NCIAL STATrMFNtS K)R THÈ YEAR FNDED 31 AUGusf 2020 Jnv¢Jtmonti Invesuncnts hcjd fcT the long.tfjm to gtnerat¢ irLityme or i#iul wwth •re caTrid at f•lr Yalue 8 fixed uJeti. The al￿nentoFFl￿2ncLal Actiyktits thdii¢ks the nct?kns and105Sts aYi$ingon rovaluaknons and diws41& throughoutthe year. Cdth ¢odc￿￿ ¢qulval6rJts Cth and c4th 4ulvalertu Indudea tath in deth held it banks. other aF￿.ter￿ Mghly Iiquld inv¢stmenty wlth or&&tsal ma¢uritles ofthreemLntknor lestandbwtkovu&afts. Bankover&a(ts. wheoppltdlt. greshol￿wI￿.noj1rent liabilitiu. D¢btorsLTfjd ￿edit￿lS Debton and crediion art measurtd It the tra￿th•on Iw Dy provision for iJTJpalrment. Any lo5w from IMpthinent￿ re¢ogtsld Is eXpendity￿. Bonl borrowln85 iJabilities for knrr0Win￿ whith art suwert toa m¥ket Ate of intcre5t ¥te meyJreA at the Yalue of themwAt1dvanr￿d, lesi r.¥ital repiyments. Fre odvanu Jchtth¢ Thc &th¢Jol h3s an ad%ryoL% Fec¥ sthemt whereby p¥ents aThd odrs maL-e advar￿e ￿Yments. which togethcr with the Ib5count auyuing thtreon. provide. lor a ￿trI}x￿On eackn towards the pupils, leex. The capitsl ￿rti0Th outstartding bs re£ogr)Ised a8 a Ji3hility aod amouni of di8couut Crysralji￿ th¢ year is I￿ud¢d io the S￿￿ment OF Financial Artivities. Stockq Consumable.%tocksTr provision&. Itati0r￿rY and Sd￿1 IM)oks wc tharged io the Ststemeotof Flnanctal AeUvltlc4 Irh the Far of purch•. Stock8 of So￿￿ for re￿Ie are stated at the lowcr o(coA and net realknahle Val￿.. Pttt$lOI>S The School ow•tu P￿.4￿￿ 8drnfs ts> proyth retlreiAent lTheBtJ kn (￿rth￿ aff membert, 'Ik penslDn charged tts the Ststemcnt of F￿aTb¢I•l ALtiYiii¥ arc dertrnined ay FdloTWS: The TeadJer¥' PeTr￿)n &4)erht-Thu8dJtmets • muiti.eDyploww¥ion srkn. It & no¢pJsibletoi&Thtify the School, thare of the utJ¢krlying w.ls and liabjkn.tw of tht Te¥hers' Pemkn Sdwnr on a <￿￿￿1Stent 2nd rcasonalilc and thereForc, as regulred by fRS102, •￿0￿1￿ for the athme as If it * dekned rJJntrthution the. The School's contribtstlong, whkh are in 4ceordaoce withthe rewmmeDdatyons oFthe C70V¢fDMe￿[ Actuary? ar¢ rjmrged In ￿r50d In whkh the ga]arles to whld) relate are pyablr. The PeDJion6 Trn31 sth.me li g mull1-ern￿YCr &fitd beneftt xhernc hr the SthDoI'6 share of the UtderlylThg asa¢ts•ndli3biiitieJ tsni1ntbcscwa￿Y kndBcd. ThisthThc istherefiye &￿￿77tedftsr ag a defined ￿￿tribu￿On sthethe in I￿r￿nce Mlth ycdion 28 OF FRS102 #Dd agrd pensffi(￿ defidt fun&ig ¥re yovided for a th8￿nted b￿5. Opcrating Leayc Renra]s for operatiag kw art dkrgtd to the Statrmentof11]J•nal A£dvlUes xs they Ire inoxted. Funds Unrestrict¢d f￿￿tS are those 3v*l•ble. io &Jrthetr thE &knl'Bdarit4bk ohJects atthe &retK>n of ￿ Govcrnor¥. lie2trictedfiJn& are monitt that aretrjb￿1￿ to rutrKth by & ￿)n￿￿. Pcrtnantht endnwed fimd5 ¥r¢ fuDd8 wh￿e theiYi8lnaie4pltal must ￿￿n￿ble f￿daY¥Ment fijnds are fund8whtr¢ th¢ori8xd amtal hewnvcrted thfo for sp¢ndkngeJthcr 4t the aownors, owo discretton.

King's School, Rochostsr pag¢ 24 NOTESTO THE FINANCIAL sfAYeMPNTS FOR THE YEAR ENDBD 31 AUGUST 20x1 2 RECEIVABLE 2020 2019 Gw¥5 FCOJ 9th94,754 (1.164765) 8U31.989 13.731 BJ45,720 10,462.fA9 {l.M8,2751 9.014,374 15.544 9.029.918 IlursJrie¥ funded by pe4tr￿d fund Receivable 3 DONATIONS AND GRA Trirs DOD3t￿n8 and granta incomc Indwk¥ fur1￿￿ d £SH.285 dath)ed hy the durth% the year (2019.. ). 4 EXPENDITURE FROM TRADING SUBSIDIARY Trading 3cJiviiies not conncaed wit thG ChariLy'5pury. L71Jicd CHJt by Roll¥ Ixil (ttrfjbwlly Ilutnbtr 02fj.156991, a wlhouy oi¥ne.d wbsidiary e(bmpny. The ¢xJmpany tr3nBfcrs taxable wofits by C>ift Aid to the SCI￿01. 2020 2019 Turnover Rentand CommiNion Rec¢iv4b]E 130. 394,213 524,919 5J6.235 37, TNdfftg InmTDe J67JU 36%148 431,823 Cost oFslu uklingctsstst&rgtd by Kirfg Tradi￿ ￿XpenS Crnss Lo55 Adrninlstrauve txts 574,135 194759) (S,3021 (94Wtr1) {49,216} OpetsiiD8 Loss lrtttrtst ppble to >4￿1 Net to Ciftaid (S5.197) 19Wi) (55,197) Retained I05B for theycar 061 55,19 Balance Shcet Fixtd Aas¢ts st￿k Dthtor 414990 1938 15,050 173.763 (46JB8) 454.524 9.472 108.729 224.484 (136,795) th•t bAnk CYtaitor¥ dué < l year Crditors due > l year Net li•bilitieJ 537 1439,586). Shart rapitalAnd rt&¢rwea Sjwr. ￿¢41 ProPit Ind l¢¥saccount (S37,74 S37h47 {439,686} ￿4￿lty shartholderafwids (439,586 £50,510 (2Q19- ÉS7,7551 of turnover and £so,510 (201y.. 151.755> or(￿t of relate to tr•ntsa￿0ns with Kin<¥ SclM)ol, Rochp4ier. These have been dSn)Ined on o)nxslidoon.

King's School, Ro¢hest¢r pw25 NOTPS TO THE FINANCIAL STATEME￿ FOR THE YIAR ENDBD 31 AUGusf 2020 NET MOVLMFM IY FUNDS 2020 201Y movement in funds is 8t•tsd iittr&ATh.' tky¢thtion d>irge for theyc4r T•D8ible r￿ed •Rets trwned Owtsrtg Icale PXJtheillS 423,616 439,SY4 111.012 Koffa Llmlttd 17.667 A￿ltOrS. remw￿￿tiOTr for•uditx¥K ng's Sth(d. Rothe# tsrnitd 14.1 4450 4,250 6.875 Auditorg, teinunerLiOtt for other servWI

King's Sch(K•l, Rochester page 26 NOTFS TO THE FANANCtAL sfATEMENTS FOR THE Ywi ENDED 31 AUGUST 2020 6 EMPLOYEE INFORMATION The aycrage. weekly nuinbty of wlo)res duringthe. year mde up * f￿￿>￿7. 2019 Numbet 4umb¢r 1eachlng Sta(f OthcTr Sla Roffa Limited 133 17 17 262 257 Smpjoyee staly￿E5 SDlarir.S ￿a￿lse 5odal See￿￿tY ttbi4 5788J22 514597 848.1 Irs 5,838.8 521.fi37

83,796 7,155.037 6.950.3LX) During theyear thert werc no trJmiwtion p)'mentu for the &knl rjrfor Hoffa Urtiited (2019.. £6.892 For the S&ol aDd £6.988 Ro￿a limlted). The numb￿ of tmpLoytts tarjjing £60,IN)) in the year were: 2019 NumI￿r £60.001 . %70.IJXI )D,(M)I . £IIM>,I, Headmi8tres¥ ofthe Prt.yeparnw SLknI and the ISUr￿ & C]eTk io thc aovernor3. Their total ernolume￿r5 iThcludingbeDefits andemEdoyer'sptslonand fAtsonal insura1￿ L)htributions pth was £433,03J (2019.. L428,H.51. Transa¢dob# Ivlth GoveYnor8 None ofthe Qovernor5 recdved any TeM￿￿ali0n durthg tlK Ptr(od (2019.. £Nil). The 4greg¥te arnDunt ofexFn5¢5 rèimburmed io Covtrnor8 during thc ￿ was sNil (2019: £50-travd eJpenstt For i)ne Govcrnor). Two thildren or one Covernor attended Klnls and they rettiyed some a*siJtanc¢ ioward5 pymemt OF 8cl)ool fees on an ¥rrns- le.ngth bali3. l)Dnadon8 totsUlThg &2.443 {201Y.. ￿.216) wwe rece4ved from GovwA>rs durIngthe￿.

Kin8's School, Rochestsr a8e Z7 .YOTES TO THE FINANCIAL STATEMETh FOR THB Y£AR ENDBD JI AUGUST Y12 7 ANALYSIS OFTOTAL EXPENDITURE Ot DrFtd&tto 2020 Charitsbleactivitlfs Educ41tan Prtrniiu Welfare Supprt Governwtt colts Grants, 3vArdi Bnd pritti 5.40¥.450 428.711 402,848 720,930 433. 627.865 225,369 2,2rg 24.405 18.9il I,W2.373 Sg,919 298.5L 1>,274 10.634 5,897073 I,JS5,140 643,491 .303043 24.405 14gSI 9243,703 6.956W9 384.331 Costx olraisingfund¥ In¢ereit p4rbl¢ Total forcharity 956W9 lJ)2.427 384.331 9?43.757 TTding costs dthe th&¥ry T￿￿#] forgroup IY8.038 194.503 39,285 431,826 7.155,•37 2,096,930 423,616 9,675,583 Compariive Analylis of Total Expeoaiture: Other DEPTpoatiort 2019 Charitableactiviti Schotylwatsft4 rAts.' Educats PrcErA Wr.Ifv¢ 5.176,762 415,232 HS,246 692,184 491.148 635.912 30S,1110 513.1 23,679 19,456 l.Y88.H2 5,742,7 .353,472 761,804 l.215.m 23,679 19,56 9.116,987 302.328 10.579 CY&Dts. 8vaTds4nd pr¢ 6.729,424 399.221 Cost• ofrAiJlng f4Uidg Ihrerut pJpbk Totsl forch•ity 6.729."424 J.991.131 399.221 9,1 19,783 220,876 274.9B) 40.371 536,23? Total forgroup 6.950.3 2.266,121 439.594 Y.656,015

King's School, Rochester page 28 NOTES TO THE FllNANC.IAL sfATSMENTS FOR THE YEAR FblDED 31 AUGU￿ 1120 8 SCHOOLAND CROUPTANGIBLF A&SEt3 Grtsup Fref&•ld a bthid LO￿]d Vthd¢5aud b¥l&ngJ Eylwcnt Cost or valuatio At I ￿￿[￿ber 2019 AddiliDJJS 12,697.2CIJ 12.¢K 2,37).fll 2.IXI,033 t￿,714 {7.168 17,397,943 114774 7,168 At 31 Au8u¥t 14709,269 2,170.701 2,427,579 17,507,S49 Dtprnciatio At I Septembtx 2019 3,313.051 201.033 880_561 1.687,552 142,646 ,168) S,881,164 42Jth16 L)l$P￿lS At31 2020 J.S17M4 9S7,498 ,8ZI,010 A2Y7,612 I'otal ne¢ book value At 31 Au8UJt2020 9.l92,18S 1.4JJ,20J 14,549 11.209.937 Tvtsl nttlyxjk At I Seplembtr 2019 9.38.1.58 1.90.140 642,481 1).$16.T19 School Frc£holdhttd bJilth"y I￿la bwldin85 Vchidexod Tots] Cost or waluatio Ar l 8cpt¢mkr 2019 Additi¢knt 12,6YI,209 12,L¥4) ,795,475 2.215.205 103.963 ,168) 16,707,889 114023 7.16 At31 A￿￿5t 2020 12,709,269 1.79S,47S 4312.lx 16AI4744 Deproei•itsn At I Septemkn 2019 ProVidi￿d￿ring y¢•t Diyls 3,313.DSI 20.033 T23,5Y) 4S.617 1,608,984 134.681 17,1681 S,615ffi34 384,331 7,168 Ai31 Ayt 2D20 J,517, 769216 1,734497 4024797 TotAI net book Ylue At 31 Au8¥St 2020 9,192,185 tO2&259 S75￿03 10.793.947 Total net bookvaluE AL I SeHrrnbEr 2019 9.38*,158 I,071,￿6 6(6,221 11,062.255 None ofihe building5 ly land arc hdd for invpJtmtTht pw. On the formarlon oFtht Compny¥ Cfrtain exbdow¢d pytk4 hver¢taiThEd by • xprateairity. R0d￿s￿r Cathedral Kings School Endowmeni I.T￿t (CFrarlty Nwnber 307922).

King's School, R￿b¢ster pag¢ 29 N￿r&STo THE FINANCIAL ￿ArE￿IENTs FOR THE YEAR kTh'DED JI AUGUST 2020 9 FIXED ASSET INVRSTMFJITS Group Fnve5tmeoi Prtv To InveJtffnts M¥k¢t Y41ue l &ptember 2019 Reinvrsted irKome/addilion8 Unreall￿￿oritOD reV4]Uat￿ w m2Tkei value 41arkrtval¥e JI Ayt 2020 285.W) 2,C4)5,932 16.617 72,264 42),932 16.617 ,261 2.379013 285,( 4094013 Sthool Q4Loled VErtments In¥eth￿Tht Vrtyprrty Market Yaluc 1 kpwnlxr 2019 Rejnvtsled 6r￿c￿e/lda1t6ons ImpAlrmElJt Unreabd Fmfjt ort rCy￿￿tIon ID vwkrt Yalue 285, 2,(￿,932 16,617 JJ91.032 16,617 (514,(th) {514.ikX)) .Z6¢ 72.264 M•rkrt y￿Ue 31 Auguat 2020 5841 2,094llJ L96S,913 The lftYe?imeftt ID the 3ubwdiJry LSmii¢d rtprenN i¢Th of the cfknpuy'l shar¢ rapid oTrg £i,IlKJ.LKNJ of Redumablc Shuu. Foll¢>￿￿ IfAi Roffé ljmited zThd w Itnwmentrevt¢w ptrformed by'l'rtwteei. the licdttfrt&le .5b4r¢s Ik7ve wpfjtten d)wA to the fTU5t¢ts' eJtiDUte af th"r TerovtJahlÈ attlOunL ljmtkd inL¥JrpM3ttd in Mir& 1988, iti prinupil ¥tfyitieB the afasports ctAtre. leWoFxknol prerniw andr£lated{￿￿b￿¥￿d Il* >ieuf¢ontÈcbonery aod a&s.

King's SchooL Rochestsr page 30 f40TFS TO THE FINANCIAL STATEhlENfs K)R THE YEAR ENDRD JI AUGUST 2020 10 DEBTORS Group School 2019 2019 ,132 75.635 211,652 170,360 3.095 223.740 4,755 401,950 87,132 19,4GO 159,098 S￿drY dcbtor4 Vrtpid Roifg Limil2d-jrsLeTLY)nipatty 18,l4S 223,740 412245 374.419 280,804 tl CREDITORS: AMOUNfs FALLING DUE )VITHIN ONE YEAR CTOUP School 2D2 201Y 2020 2019 nk borro￿ TraLlt trEdiltl¥ PTepJid fees Fees in Ihote 13} Pupil depJ4ts Tè¥ation and social 5er.urity Pensitsn deftdt contrlbtstioJJs (notc I Othtrcttdiiors A¢trued 69,031 69,031 IOJ.802 557071 34J.803 36,Y16 14333 ioJ,%02 557,471 343,803 J6,976 126A33 463.1K)3 349,546 48.020 16i.S35 463,OD3 349,546 48,020 132,177 49J37 258017 141 J?S 1,617J14 48,1 171.763 183.368 t.674,425 49,JJ7 228,812 J29,117 I,S75,681 171,763 JS1,543 1,552,744 12 CREDITORS: AMOUFnS FALLING DUE AFfFJi MORETHLW OTriE YEAR GTOUP SL'h•ol 2019 2ll20 2019 Pen￿On ddl(it red￿￿0 IntribuiionE (nott 17) rts in adviatt (note 13) Pupll depodts 445,728 248.421 J48,768 1,042.917 $09,fy 155.158 394.897 l.Oi9.055 145.72N 248.421 348.768 1.042,917 5(PJ,I 155,158 394,897 1,0>9,0Si kboYtDiY $¢2uTtyI by pkdgt oThtF thd'JpropEity. rew4 Ortober 2019 al•rinlerut rate 0.7%4bove ba# T•te.

Klng's School, Roch&4ter P•8e31 NOTAS TO THE FINANCIAL sfATBME14TS FOR THB YEAR WIDED JI AUGUST 2020 13. FEES IN ADYANCE rcnts havt the option sdN)ol rtu in for •tF¢T Wt oFor the whok thi th¢ wl ts At the sthool. The money is returned iftbe &ild ￿ withdrawnfr￿n thes￿￿1. ￿teran￿O￿￿1￿￿i￿ &durt¢d •nd amountsowlng ¥¢ 4dd¢d. Assumi￿ pupils will remaln th the 8th001. adancd fe& will 6t4pliedu folkTrws'. 2020 2019 within one year 343,803 349,546 Within ¢￿¢ to two yt¥& Ivlthjn h¥0 to fl¥e years 134.027 114.391 24S421 592?24 103,446 504,704 'l%t Movem￿1￿ durlng tht yt4r werE= I Seprernbu 2019 Additsons to thme P&yn)entJ oFfets Baiancc at 31 A￿uSt I￿20 ,71M 463,176 375.&56 592.224 478,663 537,S97 $04,7U4 14 ALLOCATION OF GROUP ASSEts ble bsxt6 NitLwrent t¢rrn At 31 2020 Uthre5trided fund8 Restritted ExpEndable Fdoivme4t Permgneni FndrJ%vmerJt 10.102.2to 1.18S.395 1.498.￿7 6.920 58,725 169,275) 1,495,170 11.¢M2.917) 11.743,488 6,920 1.253.143 I,VJ8,452 14,042,W3 I..JIYP,717 11.))9,937 4J79,813 1,041917 CompaAtive Allocation ofGroup NetAsrt 'I'￿Ibl¢ll%tts Netojtrent At 31 Au8llOt 2019 Unrtstrknd f￿1 10.39.613 1.122.574 1.529.1HS (1.059.055) 11.987.177 6.9ll) 1,223.698 1,052,891 14,270.686 Expendablt F￿d0v￿ent Perth￿¢llt Endo*thent 1,168.3S8 55340 169.2751 1.522,(130 1,12?.166 17,516,79 2,291),932 {1,059,Oi.5)

King's S¢hool, Rochdter NOTES TO THE FINANCIAL sfATEMENTS FOKTHE YEAR ENDED 31 AUGU￿ 2020 IS FUNDS Isa Unrtstri¢ted Funds Unrestric¢tsl Fund8-Gro It 31 Aupt 2019 . Income Invertm￿ts galns/ B#laThL'¢ at31 Augupt a120 GEnera) Fund Burgry 11,423.950 l.fJX,9T3 12,26.863 1439,686) I 1,981,177 9,019.359 15.454 9,034.813 317,638 9,152,451 (Y.226.645) 1>1.84 84.050 11,178A18 ,102,417 l2,281,21S 537,747 11,743,4&8 19.226,645) {415,699) (9.644344) SUb%di￿ 44J14 Unrwtrl¢ted funds- Sch¢M eD¢ral fiittd F￿r5)rY Fiind 11.423.9SO I,¢Jk.l)13 1442W 9.OIY.3)9 15.454 9.034,813 (9,226.645} 1551,846) 84,050 {467,796) 10,664,818 I,I02.417 11,767.21S (9.224645) CoJnparatSv•2019 lan￿ gt JI A¥wt 2018 i¢ure InvÈltnieJJt ns10(w3esl huR¥st 2019 Urtrttitrict¢d Fur4ds- Group Te.np.ral fund Bur￿ furd 11,2Y2.648 974,741 12.267,389 1384.4891 11.88? XX> 9,201.890 (9,10).190) 29.602 28,172 57,774 11,423.95() I,tx)2,913 12,426.%3 (43Y,686 11,987,177 9,201. 467.1 9.669.054 19, lQ),190) (522.3611 (9.622,551) S7.Tr4 VnTO8trict￿ Funds-school Cenetal futbl Jr8Jry Furd 11.292,64B 974.741 12.267,389 9,201,NJ 29,602 28,172 57,774 11,423.95D I,￿2.¥13 12,426,863 9,201.WXI (9,1(K).190) Isb Restriettd FundJ-Gft>up and School BaL4rMEat 31 Au8Wt 2019 FJFrtd[t￿e Tt¥rfeN BalaDL¥J •131 Au8USt 2120 RtJtsicted Fuadi P¥oiert Pund 4920 6.gX) eornpamtlye 2019 at 31 Augurt 2011 Trnnsfrzs D￿51 2019 REatrl4Xed Fundj Gr*rtd Piano Fund 10.260 33.340 {36.6801

King's Sch¢boI, Roehesler pay 33 NOTBS TO THE FIPIAYCIAL ￿ATEM￿rS FOR THE YEAK ENDED 31 AUGU￿ X)20 IS FUNDS leontlAued) 15e EhdowmentFunds- Grnup and Sthool Endowment Fundg •t31 Awt2019 lttv¢stJ)4b B&lance at 31 August 2020 ID5%e51 ElPe￿I¢ kndobmxent Fwd Cicoffrey Humsworth TTUrt Au8UStlne CArntu fw RCKSEr 4.4(Yg gJ,126 159.163 ,223,698 J,052.89l 276589 IIS,038) 26.4?2 l.W13J36 89,985 IS9022 1,253.143 I,OJ8,452 2,291.$95 4,642 22,185 (3.762) 118,8001 114.4391 (33.2J9) [221) 26.0&) Pernydnent Eftthwment Endowwetht Fund5Tota ,185 24( evmyaratl¥e 2019 EndoMm¢nt I￿ll￿tat 31 201 ptnditute IJLytskn￿ll[s ir￿/ lom) at 31 G￿rtY H4TmsworthTftui AUg￿linE Cnrn¢U r.w y6,872 83,861 147,4¢9 1.196.lJ2 k.067.330 2,263.462 12.3Crf (13.4211 io, G,265 9,8 26,849 974,409 90,126 IS9,163 1,223.6Y8 1,052,891 2,276,S89 KCLSL,-r 7,HZ 19.742 (s,(Th) {19,0251 {1¢.439) (33.464) P¢TJJwntÈnd¢mrDeDt Fund5 EThdowment FuAdsTotsi IY.742 26.849 The Porm8nentEftdowrd rfpropttduuxd by thescknd. TrK F￿￿Trable kndowrnthl F￿¢￿15 (Nrtprts of Ixquests ftbrpr¥Le? 4 leFy for thE Telief ￿l￿a4￿p. Au8uoino CArneli is ro ts) prn￿de trnyel pthx# toslxth Firm Yht Mwlc Frcicrt FUTh4 i¥ to be uled for 4 y4e£t. ¥yaE obtalThÈd kn fv. dmor to Ihe pllrp￿ rjf the rem46wn8bthn￿ on the lund followi￿ tbe purdKy dag[￿ w. Trao4trsJn 2019 repTuenied fuud$speDi oo Pjxed a35Et8. 'Thc Bwfyknl knc(In￿￿xKSUntsts tobe rdrtvtiteduThu1stknreachdwJfftdeTht￿ wm*ke•worthwknle con￿￿￿110￿ tvbuthtl¢¥ pupk¥.

King's School, Rochester pw34 NOTES TO THR NNANCIAL STATBhlETrrfs FOR THE YKiR &WDED 31 AuGu￿r 202 16 FINANCIAL COMMITMWS to1￿ ofthefuDJr¢ IewpayJ￿its/I the end of the ye4rate.' zo)) Land buildin 2019 L4nd ind ]di Not latsrthD l yc4r lter iknn l year andnut l•tw tb S ye4TS IAier tF4n 5 yf4ry l31￿12 131.012 413W6 1.771,(67 524.¢H8 1.791,667 l315,71S 2,446,727 2020 2019 Capital o>rnNlitrn¢nt¥ at JI Atsgts$t AFfruved•hdix)nttxd ffjt 17 PENSION CONTRIBUTIONS mpthy optrntes t'opt45ion KJxtnt¥. bothof which w￿]de benefitr Ixyed a final FNSonable Jalary. Teach¢rg' Pehsiort Schtme Thc S￿￿1 paTtlrlpatrs in the TearJJen' Pujslon khemf. Cthe. Tr5i for teadsng stsfF."I'ILe penEion tharge. for the year indudes c0ntnbuti0￿ ppble to the 'l-PS of L785.525 12019: £534.289> ￿. the year-e￿a £93,580 <2019 - 47Q,737) was •cr.rned ITh respect of contributiono tc+ ihts #d￿7¢. '1lrt 'l'PS an uhFuhded mulri.eJnployer defirtd I￿ts pwion sd￿￿¢ govettr￿d by The. I'tachers, Pen￿0￿1 Rtgulations 2nio (￿ arnended) and The TeatheTi' Pthsion kne Rtgulètions 2014 I￿ ¥mended}. NlcrnbeTS coDtrihure on * as y go. bayis ￿7th CXJt)rriFwtions from membus and the emp1￿cr being c￿l¢ca to thE Exycr Ix>Dtributlon rdtr Is Jct by the knetary OF Sta& Follv¥ving %Treme vèlu¥tlons undertaken by t Guve.rnment Attuary'i DeprtrnrJJt. Thp. m1>5t reixnt act￿rial v¥lLuUon of theTP8 was Pr￿tred ￿ at 3 L M•rcth 2016 and the. Viluation Rtport, which Mar& 2019. cob¥trmed that& Ernployer (J)ntTibulJon rate for the TPS Lntrese from 16.4% to 23.6% from I 2019. FmPloy¢￿ re ￿£0 requlred to pay a 5dJeme. tdmirti5tratlon le.yy of 0.08% i toial employer contrkntion rate of 23.68%. The 31 Mtrth 2016 Valuation Reprt PTepand in acovdance I￿th the bcnefits aet outin the schcme wlatlons and under thc approxh ydRed th the Djreeri￿￿. •s they applitA 4t S Mrch 2019. Howcyty, the &llumptSons weTe. considucd and Eet by the Deparlment for Eduation prior to the rulingin the',McCloudlSarpnt cast,. Tbis cue has r4ulred the wurt5 to consider ￿Se1 rYrdi￿ the wlernemtstion of th£ 2015 rdorms th Pub]Jc Service Pcnslons iThduding the rtaeher8' Pthskw. On 27 June 2019 the￿￿me Court denied th¢gDyernrnUbtwi￿QTh to ¥ppe¥l the CtyJrtoFAppeal'sludgment that transiilonal prov1s1o￿ introductd to the reJornied penilon )knu 2015 gave rtse to urt]aM.fui age discrlminauon. Tb¢ goverrÈrrLerst is restthng the Court'e dtCi61on and ha5 it V47U cn?ge Fully with tht Employment Tribunal as employer and member rY￿ntstiveJ to agree knw the dix¥j"mi￿tsons will be remedied. A mnjultatioo was laum&d by the govunment cffi 16 July 2020. •ttd dojed toresp)nsts on I l Orto￿r 2020. The TPS is subjert io * C4p Mech￿11￿ whith In plact to PTOtect tsxpytn agknt unfoteseen changes ITh ne costa. The (h'efsccretsry to thcTreasury> h4vtng In 20L8 artnoun￿ thttkere wthjldbea revitw of thts to ¢xp mechanism, in j￿Uary 2019 annOUr￿ * Pa￿ to tk med•nin followjng the Court ofAppea]'8 ruling In the hi￿lo￿l￿r￿llt %WL tsntil there is certainty aknut the value Dfwon5 to employees from Awil 201S onwar&. The pause lffted ln July 2020 aThd government ts prepaT5nE to Lxbtxpiete thE W•t control element of the 20L6 vaiualiony, which is experted ro be completed th 2021.

King's ScbooL RIKhe4ter p•g¢ 35 NOTES TO THE FINANCIAL sfATEMFMS FOR THE YEAR ENDED 31 AUGUST 2020 17 PENSIOTri C0Tr4TRJBimolis (cotstlftue41) T¢ehers' Pen¥lon Stheme (0)ntinu￿) ID vlew oFitr abo￿ TU]ings 4ThJ dc¢iJlons the as8umplionJ in the 31 Marth 2016 Aau•rial V41uation may beu>me Inappropriate. In thi$scenorAo.a Val￿￿tiOnpreP4red inac(x)r&ntrwith revisedbcneRtsand 9ultthlyrevisedas8umpuon8 would reld diffeJent tkn those omtiined ID the Aru￿81 Vdttation. Until tht contultaiion and the coat cap rnthnkn) review are. wk¢ed It is not po&siblc io rxjnclude on èny fLnanci•l iTnpatt OT futurc dkthgti to the Lx•ntribution rdies of th¢ Trs. AIEordingly no Wovision (or Iny dditional p¥4t btn&it Sion costs Li indvdcd in theJe finarKiI statements. Independettt Schoo15' pe￿10Th Schtmc (oFAted by the Pem$AOnS Trust) Some support￿4 adrrLinistrativettatfarememFersof addLned btnefltwon ￿herne run by VerityTru&tw Undted. Verity li the TIu8tee of rhe Perjsiorts Tri1￿ for Ch¥r5ties ¥nd Voluntary OyN¥ations. the pemion Echeme. h•B become port ofThe Independentsd￿01S, Pen￿o￿5¢he￿n¢ (ISPS). a$C￿.Me wit1l￿ theTruu. The ¢mployeer2ip. of cottiribution in thc year wa8 8.35OA. the Scknl's contribution vns 10.95%. The ISPS schemc IA a muld-¢mp]oyu 4leflnp.d bwieftt. ¥c.hemc with guar￿le￿ benefits For (iJrrent fonimy enwioyeu Trf the formtr gdbeme oj) 118(th fif lithal ¥Jlary. The sd1￿[ would have a liability ifir ceased to pru•pie in tht ISPS whirth 11 30 Sepreinbtr 1017 was ulculaicd as £2,965,61S. 'Ilbe next ￿l￿atrOn •r 30 September 2020 (v2h￿￿on retM)rt l)•9 Dot yet i)oen publsthed). A% thc School currently hal no plans to leave the ￿t, thu wniiThgerit Ihbility h•0 not beRn w0￿ded for ITI tbr 0¢￿￿nts, qnd as the Actll￿ ts unable to identify its share of the un&rlyu% aud li4biltties #t 31 AuguBI 2020. the s¢hwne. has been accounted for ￿ a defmd contribution Kheme * permitted by PRS102 and Contri￿l￿On$ are attouD¢ed for wheTh due. Any wd ptThsion deR¢ wme into fDrte 30 December 2(05. This, togethr wilh d0￿m￿tY iuued by the PeWilK￿ R4ulètor and Tcchrlitsl Aetuarsal StandaTILry' 5s8ua by the Hnancial Rq)tytin£ Counal. sel out thc framework for fundi￿ defind bencfit ￿tUPI￿onal penason

eheme5 in the lJK.

Thc scheme is d￿￿fte￿ x a'lu¢.man sknding arrang￿￿. Therdore the Lwnpny is Ptr￿n1￿1￿Y other tlcipèring emploFT&' (thlipions if thcoe ￿loyerS ¥re unable to meet their share ol the htme deG¢iL followlng wlthdrawal from the 5dme. ParUc2Pt7￿ eryyloyTr8re Iyuy r4u5rts4 to JrLeei their share vlthe schcme de.ficit on an an¥)uity purctrwe basis withdrawal from the ￿￿￿[￿e. A full actuarial Yluatlon For the Tdtnie ￿led out at X) bW¢mbfJ 2017. 'fhia vaknattsn &k)w¢d 4sEe.ts rjf £149.4m, liabilitics af £187.6m and 4 of £38.2m. To cli￿1￿1¢ thi> fuDding thoNf¥ll, the Truthe ajked th¢ rMrdoptiDg ernploFri topy additbojd ttmtriirtiom to follow#: Defjcit contributio Fr¢)m I septem￿ 2017 to IOApril 2030 £2,387,357 per Intrt (pyable. monthly and 1￿cTe¥S1￿8 by 1% t%h on 1st Stptembes) The reLry>very pl•n alloEated to tach FxftscTatlThg unploytt In line wfith their utimatrd sh¥e of the acTrKme liabl￿￿<1. IVbcrethes(hemti6in dericltandwlvetke￿n￿nykn ¥grtedtoade￿itknd. In garraThwent the 8choolTwtses a liabllity for th1$ I￿l￿tIon. The amrjunt recogni￿ Is the rt ryt value of the deficit rcdu£tion contributiona pipble undcr the weemfjjtthat rejiics to defiut. The￿￿t Value )• dculated using the dixY>uni rate detailed b) the4e d￿￿OsUr￿..￿.kn unwindlngof thE dsLy)unt r¢ is wid fitMKt cost. The annual amount due by the xhool (rorn i Swir 2020 to 30 Ayil 20JO Is £4y.(￿ (payable monthly and in¢xe8iD£by 3%e¥h 15tiemher).

KiDgls S¢hooL Rochester Pa8¢ 36 NOTES TO THE FINANCIAL STATEMETrm FOR THE YEAR ETr¥￿￿D 31 AUGUST J120 Endcpendent SchooL%? PeMAOn Sthejne (operated by th¢ Pewlor￿ Trust) 2020 2019 ReLDncaitsvon oFopcnirJgand dothJgprovtsh)m: Provi¥ion atrtart of per5od ' Unwinding of dSswunt fartor (Int¢r￿t cxw) DeEcit (DntrilMJtith pid Remtssurpjhtnts ￿im￿clo1 any thangc in tyutnptio 557 $50 (48) (23) (471 43 Provlslott at end of perfjod 495 5.57 SpliLaS follows: Due. With1￿ one ye4r nuc after one ytsr 4y 44fi +8 49S 557 A&SUMPTlONS 31 Atsgust 20a) IS7 31 August 2019 31 August 2018 Aate ofdiswunt . % annurn The rttes thown above arc thE e(pinkTht iingk Ibxowii r8trJ whith, whcn u5cd kn di.qwuht the future r+AY)Vtry pian contribution6 due. would&"Ye they￿￿¢ ruuits * u5iTrga full A.1 o)Fp￿tc￿￿d yield Lurvt todi5u)uni thè.same recoyery plan contributions. The cornpny riiusi ¥tÈognise * liJbllity mcwred ** the ￿elEnt T4luc of the Th)rttrfbutioni papble that aTlse from the. deficit recovery igrcern￿t and the. rvAul¢ing c%pEtLK in the inwme aThl L¥￿nd1't￿re accaunt k.e. the unwinding df thp. dfscount Tate. ès a nnatyct Lx>st in the period Y4hi( iiarlaes. It ii thrJe contrd>utioni tIMt havebefn wed to derive the compaDy'# balan￿ theet]iahility. 18 CONNEcfED CHARITIES Uth a s&rne apprnved by the Charhy Commts4on on 16 Novernbtr 2(JYJ, the endowmr￿t fund5 in the &rity kThown ￿ Rochester Cathed"r4"1 Grarnm4rSdbool vert retained in the (Jwity Under the nam¢ Rochester Cthtdtal Klngs Sa￿1 Endowment .1 rust, and the non En&)wrnrJJt fwn&s wexe tra￿erred to Kthgs &knl Rothester. School i# the trustee of the Endowrncnt Trwt. Tbe ternjs tsf the Sckne ￿1P￿lItt that the proFwtresandinvcEtments In the FJLdowmeDt Trustre htldfor the btht£t of Kings School R<de5ter. AIxoTdingly. no rcnt is charged by ￿ Endt)winent'fru4t to the Schts)I whJ]e the Sthool undertakes to maintain many d%a8geis ofthe Fm&)svmeThi Trwt. Unsting Directions hai'e l*en tssued bythe Ckn£tS# Corntntsuoll all0￿￿&the rnmbination of financ￿1 It)FormatLon (or King& School RIAestcr, Rvchesw KIDl¥ thoj Endowm￿￿1 Tn￿[ ('RCKSET') ￿ the GcolTtty Flarmsworth Charitable Tru¥t. 19 RELATED PARTY TRANSACTJQP4S There gre nts relatedw4rty to d￿d03¢ In the ￿￿rertt0r Fffiw YW.

King's School, Rochester pag¢ 37 .YOTFS TO THE FINANCIAL sTAT￿lF￿￿s THE YEAR ENDBO 31 AUGusf 2020 STATE,MENT OF F1YANCJAL.4cri￿TlF￿ FOR THÉ YEAR EYDED 31 AUGUST 2019 Re5Ericta Endowed hJnd¥ Fu 'rotal 2019 INCOMB AND &YDOWMEriis FROM.. IALMHne from (&aritsbk a¢ti¥itLttI 5thaol fceyTELwYJblc Orker educationxl income O¢h¢r tradiThg artivities . Rent and tel￿￿ble 9,02Y,918 41.578 9.029,918 41,578 182,793 373,124 17.969 23,612 5.237 188.030 373,124 Invf4tmen¢ incon Donatiortx thtr incomt 14.145 33,340 57.372 Toul Incornc Y.W,054 33,340 19,742 9,?22.136 EXPThD)TURE ON: Coyts ofr4i5in8 CundJ Tr￿1￿8 expEn$ Inter¢st pyable S36,232 SJG.232 2,796 539,028 539,W8 Charitsljlt actévitie - Eduubo - Pytmi5tE - IYeif¥e . sU￿rt0[￿￿1ng - Grant5, •w4rdtand pr Total dkarilabletx￿ndlQurc TotL 5.742,706 1,336,193 761.￿4 I.238.￿8 3,912 9,083,523 9.622.551 5,742.7u6 1,3S3,472 ?CTrl.804 1.239.549 19.4S6 9,116,98? 9,656,OIJ 17,279 641 15.SH 33,464 33.4 Ne InC(Knel{¢xp￿di￿r￿) lJelor¢ Invtstment pins Net invcstmcnt Net ihcgmel(xpenditure 46.S03 33.310 {13,Ti2) 26,849 13,127 66,121 47.943 114.064 6Y,$97 36,69U 104,2YI 33.340 36,6BO} (3,3101 NEf MOTrEMEKf IN F(L4IDS 13,127 114.064 ReCOn¢114a￿0ft of luhds Fund balattcey*t I Stpttmbtr 2018 . FUND B.4LANCES AT 31 AUGUST 2019 11,882 10.260 2,263.462 14,156,622 11,987,1 6,Y20 2,276,589 14,270,686