King's School, Rochester Annual Report for the year ended 31 August 2022 *AC(w)Y¢R' COMPANIES HOUSE COmp￿Y Number: 3791543 Regijtered Charity Number.. 1084266 King's Schoo4 Rothester pag¢ I King's School, Rochester Annual Report For the year ended 31 August 2022 Contents Page5 Trnstees and Advisers Report of the Trustecs Report of thc Auditors 14-16 Consolidated Statement of Firwi(ial AdiYiti¢S 17 sheets 18 Conso]idated Casb Flow Ststcment 19 Notes to the Fxnanaal Ststements 20_37 COmp￿Y Nunther. 3791S43 ' Registered Charkty Nymber: 1084266 Ktngls S¢hool, Rochester P8ge 2 TRUSTEES AND ADVISERS The knrd Imthp ofRithtr.r Chttiro Tljc Very R¢verc]id C.arrf)n Dr P J Hdeth". VhD. BD, AKC {lie¥1￿￿rf 6 Decembtr 2022) Air Cdre J D 14a¥, C.BE. MS¢ (Appothtcd and (bir 6 Dectinber 2022) overnors Ikpuychait of Govl BSI 4QA Ban&Er$ . NatLlm81 WtstE)thstu Bank PLC 2RI Moor, 3 High Street, Mathtse. Kent ME14 IHJ Rtwstered Office Hou3E Boiey Hill. Rothe¥ter, Kent MEI ITE RutTer. 80 Victoria Street. Lotthi), SWIE 5]L Sthroders. 31 Gr￿hlin Street, ImdoD EC2V7QA King's Schoo4 Rochuter Page 3 REPORT OFTHETiiusfEES Trustees pruent thtir anftual report and atiditd knnoal slttements for tk yelr ended 31 August2022 whi& o)mply id? the requirtjnents Chariti< Act 20] I, Comwies Act 2(XJ6, the Tnrt Deed and & Ch￿1t1£8 SORP IFRSI02)- Second Editioh. ATMS AYD OBJEcfivES Kiiig's S(&ool R￿¢￿ter (King'5) oldest choir s(knl and the 5eix)nd ol&siz&uol iu the UK. Ther¢haJ been wibroke L.a￿￿ti0rL4t Kwg'¥ since thee8fabli¥hmentofamonasticsdJooliTr604AD. The thtsl offer8anexceptson8lday*nd Im￿rd1'ng education for 660 pyls ¥ed 3 to 18. With a di¥tingudd Chrisiiat) fouttdation strozg link5 ts> R(K%ester Cathedral, Kin¥'s woYidc5 a cgntcmpor4ry 21" ccntsjry holiiuc education ID an iThsp.iring xtting, d¢Yd￿]ng iti all pupils, 8kdls and iotertsts beyond the dJ6sroom. For Ktsig'$. 2021_2Q22 ha$ bccn a yiod of wri(￿t transition post-pandemis fojlowing 8 divuptcd two and a half years of eduLational and wtioDal chIn￿. A new Icadcrdllp m*NgeDie¢)t srrurture. within btsth GoVcrnor¥ and key m4tLawietiL p¢rianud ha5 furthet sknped * new strategTrc visi￿7 for the next four )¢4rs. Strategic. Aim$ ' Fut￿rePr￿￿￿g King's for ¥ kni•inabk Fuu]re Steward3knp ofthc loundativn ofthis Sknol with ¢yJr wh"]ity towardy the envirorjment 2nd thc planct. King'8 ￿ One School The w4olc L￿mMUnity (pupib, stsff, pwt4 G¢)YtrDors & aiumi) togcther as to briThg closv togethcr to ttlebrate thc divusity 1ndinclusi￿LY ofthLS uwu¢ plaLZ. King'6 Is a Srknl ftr Life Prepwitig the pupJ8 For a hfe beyond kng's whi15t fAuuringthey rernain hi toyth once they h*v¢ lefL Str4tqie8 to Achieve Objectlves The o¥eAardJithg iims aknwe lead to the Eix kny str•Thd5 of itratr&Y out below whh&deI'￿￿￿ knl's q)er•iional plan.. M3xiTnisingpupJ poitnti&l through tXct]lEn￿ in teding and leAn)fjug.' By 2026 quality of teado"ng3Thd learning, SUFvord by (DDfident middle lead¢rthi"'p. willbe cx)n5iÈtently exielI￿1t. 14ie will be c￿ldC￿t. ITeatiYe lod &cnliTi trachthgand learnu¥ tljanks to i wknlc xknl aPpr￿Ch whi enC(￿Tage* iithuY4tion and ￿￿e$ besi yacfice through traiw. We will seek toutabli3h tknoad rounded cwriculuin whkth kntfits ¥ll our pupJt so that they ¥c prei)ared Fc)r a gtsbalised futwe. A wholo school apwo#th tCTr ¢o-wrivJIurn . 2U26 the ￿*0￿,3 qu*litYof cO.￿rri(￿l￿r protriston will bciTh¥i&t¢ntly uc¢ptton*l. . Ivc tttabli%h 4 cYp.(iJrriwlar ￿0&r*m1￿C that ￿ thentand demnMtratr& with the scknol's erhoy. ¢urriculwn artd edUrnti￿ lin￿. Pupl and Itsff w¢l]being in a F31t4kny'ng workl By 2026 a eulturt for i)upils and will havc been ¢mted in wbith W¢t between 'work hard, play hard and look ther ¢a& uth¥' h¥ been Rrmlv establishcd. A yloritised prw*nme uf bu.Idi￿, refiirbsEhrncnt of faL?liisesana finaryd￿ inf18strl￿lrC By 2026 w&ivill ha%c further improvtd our t¢adJingand (xFLurrkthi]ar ¢Th￿ron$￿ent *nd cr￿le￿ i)utstanding ncvi faakntiej. We hill FAi'e in progres5 amedium to long.terni prowme ofphascd deY&pmcnt Mthich kn iKcTh ¢x¢.Eully . prioritigtd ttsauuw the 5dThA to deb"%rr an outstandttig ei]u(7tion￿ exptrientr. 81 all Jtsgu. King'$ School, Rochester PAge 4 . A ￿llY ￿tt￿￿tea appro&th to Tnarkttiftg￿d adtnjj￿O￿E By.2026 a fLdly inteyatc¢l approd to adinis5ioN Ind trwkebng will'havc enablcd us to ino'¢4se ¢)ur rn￿ket liare of lirty￿C￿Ve far￿lieS and tv make our r(thLitrn¢Yitillth the Nursrxy. Pre-PTep. Prep atid Senior Sthx)18 tobu5t and securc. A dynftmic yrogrwnme oP()utreath and PariDerd)ip By 2026 wc iyiu hayc fiill). devclo]xd th¢ ippro%<& to OLJtrtac& and partsitrslL'PE with lor41 maintsincd ctOT sclirJo15, set up# Develo￿ent refrwhd our YO￿.8mme of eyents For a]umDi and donors* grown our alwnnl I14tab85c. and wrt. Charitable Ohje.Lts T]ie object& of the sthool., as set the Memorandtsm of A￿￿*t￿(X1, the provision and IxmduLt oFa daTr tch￿1 for hoy.¥ arLd girls aged 3-18 and ￿ rrovision Df kn¥ding faoli¢ies for b)ys aiid 3gea I l-18. In sctting ihe.objeeti%e% the Governors haye ￿'vell carefLJI o)08ider4tion to the Ckrity Commi*ioN' general publi¢kn£fit. PrinLip*I Activities of the Year 'llJe Sthool i)rovidcJ and (x)ndueui a ￿ 8dKxd fi)r and wls ¥gtd 3.18 and th¢ pmiwion of boar&)"ng fa¢ilitics l)0)'5 and &'r15 aged 11-18. Grant-maK-ing Pulic> The value 0£ xholarshipi exh)'bitiO￿, burwies and (pthw awwds thts]Icd £1,360.352 in the )'ear, 12.2% of gr058 fce in￿￿¢. Thc policy is to make awards thn the b35is of an Indiyiduai's tducaiion¥l pot¢t)tial or to rdic¥e har*Jghip iyliert the i)upil's edu(xtion and futwe prospetts would otherivise bc #t i'l& llus ytar the Yalue vf prkzes rk)gdc to the School'5 wipJo UL OF restrirted funds held by RO&est￿ CathedAi K￿,$ Sknol Endowrntnt Trust and Geoffiey Harmiworth 'rrusi ¥nounted to £13,949. Ibe po]i4 for djstrikn1ti(￿ Folkiv•s the L[￿dItionS impsed by the o￿l￿al donor. Full detaiIs ofthe award8 are published ?nnu•lly itt a b￿)kl¢t"sd￿larthI￿ ¥dBurwies'. Dc$ignated Funds lThe Burgary Fulld wa8 sei lip several years ago. the it>coJne cxmti￿ut5 to b¢ reinvuted until it has reaL.hd suifiucnt sizc to make a worthwhilc tontribution to bwies for pupi]s. Deuils orthe al)oveFun&4re con￿l￿ed in Nute IS to the Fltianoai Vo]L￿t¢e "rhcrt are two thriviTrg wcntal groupj tspcrating.. Thc FTieJJ& OF King'i &thool and The Pre.Prcp Supp¢)rtexs' Croup ivhL) fund-raise for the ￿v01. The Governorswouldliketo take thisowtuiiity tosay mu&it¥pretiJtes thEir continulng and valuable support the S&ool'$ work. .Public Benefit In pursuance orthe Sdmxifi long-hdd objective An I)ffering￿blIC F*t￿t to the UJmmunity,and to wmp]i4nce with reccn¢ leysl&tion, an AnnuJ Public F*nefJt Rcyiciv is wthrtaken iDtern2llJ. Set outbdow iè •wnimar) of d)e publLC bthe&t actii)ns un&rtaken by the 5th￿1.. > Butsari¢s atsd ScholaT5hips. Our wirnary purwc i¥ tk provision ofeducatio￿] services to young people gcd 3 to 18, from * *7dc c*05S 5eetÈon of the wbhc *5 FKWJ"ble. The Sthool wela>mes PU￿ from baCk￿0￿ndS and aoxas to the du(ation offered is not restri(xed to tkn*' &￿t£2￿ afford ￿ fees. The Sdwl . olyers a ￿ngC of ¥tholarship¥ &ll￿e with a stsndard Fe¢ r¢wission and additiona] furth￿ rneans tested assistartt where required. 'fhese indude Academic. Music, Drama, Art and Sports thlarskn'ps a%7ilable to e%terna] can&"d•tes. Thc School was woud to offer both'chadlithgton s￿￿larl￿PS, bur5arial supyt¢d phL for Ukrn'niaii pupils the 'HMC Projects in Centra] East¢rTh Euro￿. this ye¥, tbanku ￿ Iml Chadlhr¢gton and to Mr OldReld. These plxes cover I￿ts of fees *nd expenses For a of six pupiLg Irom I￿] m•liitaiThed schools and thc UbaJ"Tre. The Sthool ￿ornOtes its meth5 tested scknlarthips and bursaries to pupils frcKTr the M￿ntained seetor through vartous knds induding the sdjool's websitr, rnedi¥ rdation5 and tnwurages parents to apply. Bursari￿ support Is pro11d￿ For exiSti￿g pup1¥ there Is a &nF IxraLrnStance nurnber of l(K136burwit£ swting childreD in parts￿l*T ￿. King's School Ro¢he5ter pag¢ 5 Cathedral Chori%tership5. With the *W¥TanCt oftht De* 3nd Chapter of Rithester CadLedral, we eduote the RodJe5t¢T Cathedral CILofistrrs who art draivn Frotn Yocauy #nd musically able boy8 and &'rlg from a wide cross Eedioll of the communitv. AU oftt* C*drtdral ChorisEtrB ¥e ￿PaS SdKK)l (pxcrptfor aome of the oldej. gir]3) and 3ing for the public in xryitts atA con(xrts in the rAth¢dral. 'fhe ￿ts1 provides finanda] by wav ofa fee rtmis$ion to ￿terS atttwling the 54kn1 with soJTrerecCivi￿ fwthety r)nan(ial aistrThcz tkough mearJS-test£d bwsariej. > Schoo15 Togcther Partnersltip Activities. The School has ¢stablidJed * nvrnber orlinks with locai niainti%td Sdyjois, and haj oftucd pupJ]u from &"verse bacwoutsd d teadws the OPPTtunity to work San t¢geth¢r in joint activities sudj as PHSE, L¥litL. Scientt, Gerrnan. Ath]ett<3, PolitiC8, Drama ¥nd INSET ¢vent5. i¢tivitiu aThd i%Y>rkslKJPi many involving visit￿ *Ld trirtual speaLtrs. The itnpacl of prtncr51xp work In¥olved PUFiig from six l¢x¥l st*t¢ xlb)ds dcliverd b). thrtt hun&cd and el￿tY 3tstThours given. Yhe Drarna DeprtmeE]tproi'ides ￿￿tUnitieS for a local xhools, cortxjrthun) nfDrarna te4(kn, foL)]Xin8 On GCSE & A Level Dtamil, 3h*ring good pr4Ctic¢ ana mod¢Trting drama (XTruf5cwork. Pupils froTn Rve lryal state ¥knlJ btroadeJJcd thtsT tW2thee of 1xrforming￿tsby ￿td)Ithg ]ive d￿atrE, Attending yfomjaw olthe Prcpffttoty khool's ￿odUC￿l of'NaiiYAty' 4nd thc Seniot Scknol produdion of 'Fiddler on the RooP. PolitiLT d¢F￿'tment andDIA Opens￿ all ewcnts to lo(xl state Ed￿01¥ (thy are mosdy 7A)Otn ￿11$). The u?Tritstion ha3 a15É> been ￿tended EO some deWiT￿a xknob in Hettfordthirc. Spcaker¥ are Fornicr (Abinet miiiisters, eurrent NIP5 attd leading ac4demics. 'fhe musiL aC￿Ttl[1CnI ha8 partnered with OaHands PrimRry Sd)ool, Waldmladc #nd English Martyr¥ Roma Catholtc prmar¥ sch￿1 in Frind8knrys to ddiw worksknp¥ to deVd￿ th¢ and rhy￿11¢ skills of their Pupi￿. King's Sc4oal Rochcstex worL ivith ISO in frotn prs 4 to 6 The Is to iniyca5e thcir enjoymcnt oFmu5ic and al¥0 to raise thcir iiYarcnesJ ofpl*yng instrumeDts suthAb to the dlrirtei *xophoJJc, Violin￿ and trumpet. A sm¥ll group o£Kttxg's Stnior School pupils havc beth trained tp deliycr io(al/body ' percussion/rliythm workshops and to Our inusie deparbnetht pwts on * numiKr of ptrforn)antts are tornembets dthc publK, frec of ch)r￿. perfttined by pupls of Sdioo]. We are a]so ddivcring an Mu51¢ OutreaLh Pruwmc tu two i)rimiTy sdjoois", Yisiling eath on¢For1n￿dY to ellcouragc involveThcTht with51n￿.￿S ond uptikc of musieal inztrumcTht3, Ihe ￿￿¢$ Deparmwit hdd •Fesuv*l tsFRugby For pupils kn.four loc*1 ptmw ad1(￿15 y0vidi￿ coading from y¢aaiisL Sp>rts tead￿5 on rugby skills #nd f4Lilitaiing an aftcrnrthon oFmat&es. Pupih were introduced to exwncc the basL"u of'iag Rugby and ¥bl¢ wactitt their skills duriDg the mat(kn. . A Fe4Li¥ai of Crickce held For 60 pyls fr(Yn six Io(71 ￿Mary JdtwJJs. pupiL% bcneftted from r￿*￿Ving expert fro￿ G•mcs Dtpvtmthttt*dm. lioks w&th Chantray Ar*deJny th¢ sdwl has yovided muycpvFomiaDccs and iDtroduciioThs to mu5irAI InStn￿ents, ex-library IKx)k5 dO[￿tea ro thetr sdthl libraryi rnaterials for their award winThing ￿rden pruj¢ct along with kcience 4uipment and reJow¢eJ loancd For their pupdj tv ugc. TTrio of our Tt4chcr¥ vnluntrer It the Medw4y PoTrith Sfknl tsTr yewe thildrch from ¥ariou8 Medydy ¥tats kn018 for the'Potig GCSE cx•m abo SUPFJrt SCL*adary sthcrf)l$ ill *rI￿ging atd running 4thiDg exarn¥. > . Itariylng Support Progr*mme. Withm thc (x￿￿£t.￿￿e knl community. inthvidu41 nethls are" *pprtaated. The dc¥tJo[#¥L￿*t of the ￿￿'It p¢r50n is •t the dour edu¢adonal phJosophy. At Kings. W￿)le wpa and whole ydKK>I approa& 15 womoted, rccommemded in SEND Code ofPr4rtitr 0-25, 2015. 'Kiiig's F4111ily' maintains a strongPst￿ supwxi within t]￿ Forni/ H(￿￿￿rue￿Lre wNch furnia the heart vleduotiOD81 Jupport. Form Tutor¥ and Cigs%Tea(&ers arc ctntral tosupwting the prow¥ of wi)ils with eduCAti{)n￿ need8. The Learning 8upp)rt Depèrtsnr￿t is isel1iwdi￿tea througknut the%+￿07 and responds eIT¢￿i¥￿v and fle>ibly to ¢Trabl¢ prwt¥S. King's SchooL Rothestsr page 6 > Kiug's SLhool Pren11￿5. Ihe &knl runs aThd*n2int•in2 • fornw oymul owned VLE Ctntrtswliith it fulty rdurbished attd LS Lu¢d 85% of the time by the lod wtnrnunity. induding local maintsincd sector S￿￿0]$. The. klng's Rochester Swts Centre yoYAde5 Jul>*"di5ed acce&% thkn"8h quality 4)orting atta txerdse fa(alities to th¢ ￿)M￿l￿￿ty. Many lod 5wtsgr(wp Use thc itmloor outdrtir fa(ah"ties at communitv rates, knig a lo(xl Lardin re￿b￿Qup. 'JTh¢ SwimiDirig PODI Is u*d by thrte lo(xl wim•rys(knoh enabl>ng their pupikn from I"c•rs 4,5 and 6.to have regukr swijnming Ic380ns and SdMM)l ¥tsff volunte￿ to trachgroup swfjmmitig Icssons. &wirnming dub5 and lifesaving Cour￿ to the pubhc. The rwl is uscd for frceby o wnall Duinbcr of iadet ￿0￿p5 prtvr to thetr swnTncf s&4son 0routsk￿r wattr sports training. Thi4issn thc Cad¢l training tcams ¥wim test cadets and train thcm in Nfatcr ￿ety 5kiU3. We host swiinrnl￿ga1*4 for luol s¢kn]s g'ving childrcn the cxwieiitt and OP￿rtUnIty to rar¢ inq Ly)M￿￿tI￿e cnvirty]ll￿t. Via a prtncnhip with a Icds(kn)I, the pool *Lda teaching room is used by the Cttnatre Sp(YL¢ Partnerthip to ddiver • Switn Engl4nd Tead*ri Cwrse.'l%i5 ¢nable$ 12 te4&rs from aLYOSS NqedK?y to learn how to te 3wiiTrming to their Aool puwls. 'rhe ChadSingtoTh Sports Hall and ira trkkrt.netshaiekn re￿larlY dtrougl)out notL-plaJ1ng 8eayon by l¢Kal cri£kct dub5. 'lknc School'$ playing fields havc becn pro bono b) lo(xi uthooh. *knl aged Pu￿18 Frcth * local yugby elub as p¥t of • ¢ollab(rativc arr•ngemen¢ and 8130 b). ILK21 tricket dubs 4ttd.thcTA. > King's School Pui)il Charitable Giving. the thiec ￿h￿)S nLvniiiate * knily eath year that works in the1(￿ arca, Some uFthe IA)iYer Sixth or￿nISt lundrat>ng eyents thrO￿knUt the i'eaT to raise montv to support the work oftk nominated <&ar&ty. Additsojully t￿t. was * whole during 2021. 2U22. All are Supervi￿ byjnemkn ofKinls SdM)ol.St*ff. Eath oFthe thre¢ d¢wtmeTLts of tk org¥DJSd wlar events (aXMfrts."h(Mne dotks days. spomored eveiits etc.} tri raise rt￿nEY kn their ￿￿￿tIeS eath yw. In 202 1122 the thties wve: Pre-Preparntory sd￿￿] Preparatory Sch¢x)E Seniur School Demelza HoLtsC UNICEF Ukraine and Ardjknshop Andoh (Glwi*) Cubkn Meadoiy RidJ"thg SdLooI for the Di£ablcd, Nlthtal Health Foundatiun Br•in Tumour Re* DEC Ukraine . Whole Sd)ool Ai Harve¥t. via the S(thool Clykn'w. lye ¥upported the Hou2e Pryect, thE lo(xl IM)UteiesJ projeLi wkn" Iso 5UPPOTts 5trug8ling"IK>useknld5. Additionally. a toy xrvi(% iYa5 kld the Strood C(Jmmunity"Projcct, whith distrilyjte hamw at ChTi5tsnas to tkn.se in n¢d in StroL)d area. > Sport. By cr)mpeting in re￿]ar sports Gxtsjres for knth knys and ￿tI% agaknrt st*tc and indeFnden¢ kin 's Sthool pupila ar¢ integrated in thc lo￿ sctne. cnwvra￿ a F¥niliwit¥ with King's and generally eontribute to the SULttSS of Ltn)munity events. Once apin, Kfng'$ had to crea¢e ODluJe activitses. 5￿ch as the Netb4]I Compeiiuon, inyolyed a variety of lo￿1 8(&(M)18 arwj o>&d￿ by our Netball Worship. The School aL*ivdy promo￿$ the Ckn'stian f*'th atid princ41?1￿ (Mitii study ofRS to GCSE For all pupib) wirh LXth¢dral WVL¢U Ory to m¢mbcrs of the publi¢. ￿001 a150 Wotes ¢quakn'tJ as)d Inte￿atIon. >" The Catlledral Choristers. The Sdwl Ik¥ Provided niusic41 outrtsth and woduced ¥ number of contrrts an service5 thai are ￿ld in the Cathedral are nude ayailablt at no dwge to the local Teacher Trnirtlttg. Kings o*Ters placernents"ts) trainet Frixn CILris¢ Chur(& urtlversit). Canterlxjry. Our Director OrDi*￿ Learning has a]Bo proYÉded supwtand training for Computer kiffice at niathtiiThed ¥thotsli across the tounty aThdbeyond. Klng's School, Ro¢he5tsr pag¢ 7 > Community. The scknl 18 prtofthe Medway C4JlbJral Part￿￿'p an aetlve P¥tirip#nr th the Mcdw*y Chanipions Prograrnrne to promote Meaway as a p￿ce to live, visi¢ work ènd Iwn whieh cojitributrl tts developing tht eamoJny of the l(d c¥xnrnuTrity. Kin15 ts taking a lead role thc Medway Eduotim PartfterBlll'p. Mle ate rx)ukmitted tfp strengdwiing tj ekTecrivencss oFdie %knl sV4tem in Medwav Rnd faatstating a Sector led systeTn that eThabks ei'ery child to rcalts¢ . their full potcntiai. ThE r¢latioThthp behYe¢n ithoo]s. trusts. ltsder8' a8s01?atsonJ (MELA. MSHA), and tlie aothoTity", worknng ￿oRg￿laC thE Regon31 khrM)J5 ComnJi35iOTJet and te•du'ng Bchools, are ey to 'a&eving more togets, with (x>woduttion supwtiiig ttye outcomea we setk. As p￿t of the SeJJitir Sdbjnl programme. tyery Friday aftern(￿rt pupds do Yolunteer workThvith I￿1 charitiC$ 9nd yiniary idwls. '￿￿¢¢ mcmbeTh dthe ￿ •re GovtrnL¥S atl Ecoiiomic Impact anil Sa%ings to th¢ Public Purse. Kinl5 S&oDI ￿rr￿tlY edutstes 660 children relievin& Press￿irt on lornl statr 3chools d*'m on the" Statr for dic Jubsid} pr07idcd ftsr cath place *t m#ihtaitted s¢knl (Thc Scknl does n¢)t reclairn any VAT dwged on its pur<*** of suppllcs and scrvittsl. The sa￿01 eTnpIoy9 over 240 people lotslly at all l¢%els ofcmplow¢nt and theSd)ool also as many of our gotyi% and sertyil￿ lo¢xlly as w.ble contril)utsngfutther signifL(ant finants￿ illilALt iDdtr"ectly. An Indep￿dent hool Counal (ISC) ELxsnomic Syrvty tk seknl added over £8.Im Fer antswii io the ICWAI eo)nomy Dd s%Ytd the £4.9rD in the fi¥kjKryai ye4r. Fundraising Api)rrJaeh and Perforniance Throughout tlie year thc &hoDI cornmvnitv tsFstatY. pupsls and p4tethts Wid￿**ke cknrity fundraising acliyiiics ￿Uding quiz nigiirs, clwoom cOm￿titiOnS1 Vtevents. 05xn thie nights and other Iurtdi'a￿￿ ¢Yents with wpy)rtcrtontstt linc with the Fundraising Codc oFPraLXicc 5¢t by FUnd￿$1￿g Regulator. Ovr fvnarai¥ing prumisc is: 'WhinyQU suppslyou c4tn ￿3￿rt of¢h¢Jollowlo8.- We IviJJ 5dSyow oJJtG¢¢ dooibto all￿￿#," *¢ wjll Ji hov¢ ¢w&tyd tyn Ir¢£￿1￿ oiir iiwk,. I we PhOD¢￿V. w4 will¢71woy5 ehrtlryou ttt¢knppy to tolt tsrll.. I y.ov 05* us to chanw how we commupicats withyov, or #OP. w¢ will rw thknt.. Wc do noi e￿age ltt e41d-a￿li￿. door to OT5r￿te￿UrJr0i5l￿￿ We tryhord ttp tnsuts n& cYcrJvv 43% of thc LY)hort gaining ot least half of &ir *1 9-7. '11)C PTinaple destinarion for leAvcrs Bplii becTh uwvcryiti£%. Cfy(xJrriuJlar provisi045 corLtinu¢s to bt * kcy stratrgic area for the Sd￿trI, rtturned to pre L'OVID-"19 leycls of prLTr??slort all mcmlxrs OF thc &kn1'5 wmmunity including parents ￿ld ("amilie8. c'on￿r¥, fixture¥, w0d￿ctiOns,. vilits ￿ outdoor pvrwits haye ￿ taken pl*(* durinE th¢ YEar, tDhaft(3rJg tht exixrientr of our PUEX'is. A prywmmc of ww-rwrioJl¥ activitses ks betn developcd to Lomplement thc Sthool.. ttschiTrg and Ivdrning. Thc S&0tr1'5 tommitrnent to div¥￿ty haj als() ma& sigrJifLL>Dt wwess via thc DiYer$ity And InclU￿On Allianct whitheolwjtts theSdthl'spastOr￿<¥rC￿￿d SaFe￿ardIngr￿¥￿￿b1Tl1icS. The cstablishtnu)t of a Health and Ivellbcing Centre has inrroductd a dyTtarnicyogr*nn)e of weJlb¢iogdcvelopmcntettsuringpupils understaDd tknt thelr wellbeing 28 fund￿17t￿tr]. InCre￿ing the ran￿ of Itadenhip opportunitses for PUPI￿ and giiing yrimaey to ￿￿.1 ioitt continiied to be".actiYdy ertcouragcd. Ag part OF the re.l*uThth of the C1JdiDgtw Itcturt progrntyme, th¢ knior &&ool were deh'ghted to h•vt the q)porDJnlty ¢0 wel(Dnie the former Prime M2r•i8ter. Mr David Camtxots to KiThg's Sd￿￿1 R(thrter. Mr Cameron proiided t1￿1r1£￿t. iTr5ight into the challenges ofiaership in a honest and m4nncr giving pup]8 a ge*ttr utthrstsnding of what it Lak¢s ttihav¢ tbe'top job., Thc Senior knl 1$ I￿gelY8rate1￿lto Peter. ttsrd Chadlinston. I former WPbJ, for t￿"$IMPOrtant Lwlrikntion to thr life of the sd￿￿1.. Ike Prcparatory Scknl maint*ins 4 broad LIkrri￿1￿￿J thrt)ugknt the Sch￿1. allowing ]XLpib to exwi¢n¢x a range of a(ademiG. ¥P¢Tting, fflusical and dramatic wbiects. The exttlknce •nd l*eadth of the tsJrrlL￿]uM IFa¥ eiidenced in the ISI Inyction in Jirtuary 2020 wlKre all area¥of th¢ saool iytte judgd ¢0 be 'Excellent'. The th)ol ath.eved outstanding I l+ ammar sehool entry re4vlt8 and the use of JnCAS ￿ MidYISdits from on-line tests %errittd bi CE.M"at the UniTr'¢r¥itY of Durkn.'Ccntre alk>ws for disse monitoring orpupil FFormanct. ensuring that pupth, ¥P'ratiO￿ &%ceed their bajeline. Pupd nurnbers retlert the excellent educAtion *ttd ￿torI] ore in the Prep￿torY Srknl and hav¢ reMa￿ed $ts61e Mith 4 pupil count of 231 Jaituary 2023. Seytral of puwb exce] w-aLrrl(￿1ar endeavours indud1￿ two ptspils iyerc selected into the Kent under 13 Netknll team, one pup]"I who wa5 detted into the Kent&r]s' Football Le•m, two ptspiL% are 3WAtnming At r¢yonal and co¢Jrtty kvd and Dne YeAr 8 pupl ￿h"eyed Grade 8 with Di51iThclion' o%er tht last yeiri 9 pDssed their ABRSM'examirrdtions di8tinction. W¢ *kn knd a seffli-finali3t in d* BBC Young choTiSter of the Year cotnpetstion. Thc Pte.PTWtory S¢knJ, indudingNw. conoThuvJ to oFFer ￿exating and varied (Wth￿￿Tri througknutthe $d￿ts1. I'kns m¢*rts py]s enjoy.a huge r•nge Olopprt￿11tse¥ are •ble to thr)e wheretrv th¢ir intere4ts lic. They exptriczLCC a range oFsubje¢ts indu(b'ng Music, s￿rI atKI Gtrmatk as wdl ¥5 core right fr￿￿ the start. The school trath pupils U3ing aswinents Pr￿UC¢& and analy5td by CEM •t the Univers¢ty OF Duth*m Centre. In Nurw, ASPECTS L3 used to shOW]￿W uchL&ild yogiessed during th¢ir tsrne in thc uetting. In Re¢eption. B.4SE ts uscd to ben(kn13rkour djildren's performance against tyational iveragc8 and dernon5trates the yogregs tsch thld made during the ycar. Y￿r 1 . 3 Kingl$ School, Rochester pb86 9 "uR'lnC-A9Iata whith inckswpd¥' yfoi'niantt yw ￿ year and pro*ides 4ge-stand￿.a7aa and ag¢-e4Tulval¢tit 8cores trdch. >ear ell3ur￿& Progre￿ Is made. ￿let, ABRSM mu5iL and LthIDA exam¥ have all uk£D place %¥ith plewng resdts. Thc whole srhool pitiopted in Meotal Hdth Av￿rents5 week during the MidsuJnmcr Tcrni cu]tiiinating IE a colour ru partitipated by all pupJ5. The Queen's Platinum was marktd with activiriu iU05S the xawl l￿dUdl1)g * Whole SchoDI Serwice wlwe the Dean of Iloci)ester leaddkc sclKd it) w?ycr and a wi(xl of reflection. C'adets from the Coinbined C*aet Forct then performed *4x¢wlar. dtsplay they f¢*mcd"a L4rge 70aLr¢￿% the Pl*p￿lItId. . Diiiing the )'ear the king's Profession*1 De¥doEvbeDt PrOv￿rne (KPDP} inrrodiittd to *(adtynic $tslT, bosed on a coachwg model and idtnrified Continuing ProfevicK)al tkYeJwr￿t (CPDI pathw*y5. ¥tonp'de a whole 4(&0013tsbjLxt revtcw timetable whidi encourap Staff to obstrve teaching in * subj¢rt. The KPDP 4UiPS tcacher5 with the training QPF¥)rtunities and skills thEy neÈd to b￿td￿lYÈr the CLSrriLuluTht The KPDP is further b¢llig rolled oyt to all #upport $taff. A digitaL CPD Hub Ivith bcapoke vi) knng budt tr• ensure stsff training in dtv.￿l tedmTrlo&y 15 41 tht core of maximlsing piipil potentsal through L¥c¢llenb¢ r¢vicwed to develop * new 8tratYCVi3ion for the nut 5 vears. C￿Tr¢Tht key operationai pl•ms are.. lo idaitify the rurriculum needs ofalj vijr pupds. 2. 1 oimplcmemt a knle 5(knl approathto D%itsl Str/trgJ 1TLdu&.￿ the£urtFKr developmtDtof Gcrf)gle C1￿￿rOOm., 3: To ￿h1n¢t our proFi¥ioThfor (Arcers ￿1)￿8 tk wknk xlffttyl., 4. To deyelop a Pr￿ran￿￿e oFwknle co-Liirricdar evujts to tnhance the 'King's One W￿>[, model. To d¢velop a wogtamme UFsU￿r.Currl￿￿ &tivRtiea to ￿)mPleMent thesdwj'ts traehing 4Dd.IwnÉng? 'ro iDtroduce a djiumicwogrwnme of wellbe* deveiowent,. '] o itLLTeayc the range ofleadcrship opportunities ftr pupds; 8. 1 tsadapt schemes t>f work to reJleLI our reswsibiliiy for iliYrThity, indu¥on and 3UStainabil(ty" 9. To cn$urc thit buJ&ng PTOiC¢ts ar¢ line with tl* sth00l's coJtun)Imentto sustainabRlity: 10. To dctrelop #cohercnt plan for prtners￿.￿ wAth local m*iotrAincd sd)ty)h,. . I l. To ensure the (hts I￿1•ble tn the Demdopment offi￿ prolides * firffl E(x]tLdation Ftsr fuiute alumni rd*tions and fvn&*ising ￿￿tatIonS,. 12. .10 evaluate the tr8nsformativt ¢xwcnce wovided by thc K.SRknrs*ry proTrmrne" 13. lo IntroduL% •n Arts FcstJY￿ as pari oFouT oUtrCathpro￿¥mTrIe,. ¥Jd 14. -fo King'¥ regfioml ptofik. King's School, Rothestsr 10 Acknuwled¥Lment ISC Ciovcrtsors Ivi8b ts) oxprw thcir appretsltion to th¢ Prlryap￿, He4d¥ of eaL& ￿)01..￿*¢I￿$ and all'scknol statr their loyalty and dcdicatson, crn)tyiviiig har(1 work and 5UPtKJrl. Ro¥cTvc5 Polxcy 'Ihe Croup ha8 lotal reseryes of £l4.303,551, thescindude En&)w¢d Fwid¥ of £2.817,2i3. Rextrieted Fundy of £6,920 and Unre5trictecl Fund3 oF£i 1.47CJ,.3711. Th¢ Re8erve5 PoliLy tsF the SdM)ol ]Ja¥ becn b¥xed orl SLknI'5 tthic£tiYes. Its m?in featuru arc.. a) Tn ady.tve a margin of wnrkyng c4pirai siitrioent to cn*bJ¢ all aspecas oFthe khod's ivork to bt a)rtdurted in gn or(l¢rl> and dTJcicnt manncr and to dral with maDag¢Tritht ¢)f the Sdw%Jl'$ build2.ngs mlitttcnance prwamm¢; and b) 'fo wvide rcsources to fund the thol to PrO￿de cover lor unexptttedoT unavoidable iten)s oEexpendityre. In ordu to.meet the (Yittria in (a) (b) alx)ve. the Gowern￿¢Qnad￿ thatth¢ niiDitsLum targeted leiel of rucryes desircd is as follows.. Wvrking ¢¥pitsl of £1.65w&. or two n]onth' expailure. 'fhi5 th¢wld bc rye4ented by liyd rUoUr￿. Whtn Lvtsin Pixed assets totslling £9.8in are deducted from unrcstricted funds this yves Tiae to frce reserve¥ oF£i.65m. The poliLy is therefore to inaintkin building yp r&Eervu ufannual opuating surpluses at thc currcnt lev¢1 of two illonths exwditur¢, 5ubjert to the prior dein•nas of"furthu (apital e¥endilsJre to cqtsii) th¢ &JJool with the up.tu-date fadiitie8 ijeeded to maintain the 5taThd¥d of ¢du￿tiOn￿ xrYi(u awdy pri)vided. 'I'he t￿￿,5 Bursary Fund iwkndj ￿rrenTlY stsnaj at £1,358,708 IDcsignaknl Fund) was ￿￿blIs￿d with tlie objecttve of getheraiing investment inwmt lo ￿p￿re the Famili￿ nfexisting pupils wfftrirtg fLn/rtcial h3rdthtp and io erThl pupilb who would otherwyse be unable to alyord to artend ￿ school. 'Ihe ￿tsd w dat¢ h*syeiJive5ted au income generated. Its mediu ternx obje¢Live 15 tv in(2'ts5e the Fund to enable it to guvate annual Éncome ID zupport oftht akn.e obieetiyu. Investmcnt PoliLy and Objectivcs The &Mrd ¥im5 w maximig¢ the totsl investment return within the objectives of niaintaining ino)me with¢Jut taking undu¢ risk. W￿"le tx)ntiTruing to preserve the re41 value of endowed Inyestmcnts and to m￿lmLy irncome on invested restrittsa Funda. The mantgement of the S(knl's 6Jn&"to be rtFieMtd rcgularb by GoTtrnors. Thc Governing Boa) revie%vs the rformArKe of thc invtstmtDt portfolio icrni against the moitmentio the FfsE index. The 8chool'5 primary In¥rAttncnt wcr Rutfer a wtsous investment stratrgic wtion during the year ￿¥¢n tkeir view ¢)n the worldwide economy and un¢xmin¢)' fft the UK. Their inY¢sun¢nt approa& i¥ long terrn and their Strate￿ ia to hold * w4de of tnosdy coDYentiDna] 4sxts. Acojal market performance on returns were in linc with releyant market indices. Investmet)t10sses were incurred during the yeax amount du¢ to m¥ket performaTiee. Risk. Mana8tment King's School &>ard & Goyernon i&'rtstThsible F(* d* I￿￿t of the ri¥ks fad b¥ the sth￿l and to ensure dkt adequ*te contro15 are in place to identifyD aS*5Sat)d miti￿te %ain¥tsu¢th ri513. tktaild Con￿derationS ofrisL are delegated to the Finan￿ snd Eststu Sub-C¢)rnmittee. assisted by th¢ Executive Board. are identified, x55G85td and controls established throughout the yw. A lornnl re￿e* of the Scknol's risk managemult yi)cuses underraken ort 41n arJAual The nojor pttTttial iderttified ate addre88ed.by GoverAW su&(y￿mIttee Meeting5. During the jtar tk5c risTr3 arc disojgsed in ddail and mgnitor¢d for actM)n ￿ nece&4ry. Eath id¥.committee reyts itt detail to the Govuning ￿)dy. The Governors consider the major ptenlièl risks to the School are.. > Theats due to rhange5 in the po]ititsl dimate regarding Independent Sd)001s and the imP￿t of any ne Goivnrntnt marid8tu involving changu for the Independent Sc&ool sector suth as the im￿51b0￿ of VAT on . school fees lexpecttd to be 20Yo). rcmotyml of &n'tabltr tax rdtefs and removal of knn¢55 rate8 thritsble > Chllenges of the current e(4)I￿lt SitU￿lOn. indudLng higlv 1Th￿tIon and interest rates. w￿ure oh salaries. parents F*ung cost pressurts when wn5ideringFeu, the lingering dfert oFCoi'id-19 gdh)ol balance theets, > Affordability i53ues for prents Ththich affert wpi] nurnbu:, Fec and exw¥e Ic%cls greater prthure o bursary/knd2htp full&. King's SchooL Rochester Pa8cII > FurtherirtLYwe5 trtwoh oijlfKibtt￿ottntesaftd dw%t"5 ¢odeGatrepayments, •long Ivithchangti olpTOViBiOrt,' > The uncertaintiei around BRExrr or] ￿p]I from the Euroy Emnomte Area.. > Competition from both indewdtni *ryd st&e sdK)015 for P+pJs; > Safeguarding and In5￿tIonS ill an RnacLsingly rcgulated eTrvir(mnkni' > Ri5kM￿age￿erbt Of Data Protecikth *Thd c)4>eT¥wirity,' and > Risk inan%emènt ofHealth ¥nd Safety. The key contro]5 l￿d by the Schod kn p)iti￿le risks indude: > ComprehertSiYC 8trategic plannitig. budgetin& Foreca%ting and M￿agement 8ctounti]ig'" > Formal agend*% lor Cornmittee and BWA aL*ivity lo eJ]sure a]1 Governor3 and SNll" are fully •ww'e of and eongidcr ihe r￿kS re￿1¥1y. > Risk Reg￿ter Id￿￿ticS ail riskts; > A jieitrly Fornied Audii & Rkek CO￿iMittee to rydarly revltw ri5k5 ￿ Tnitiyting 3trategie3 then report to GoveJ"iiing Pg)dv,'" > S￿[w.i0 plwing to provide a seriu of coM￿titi4.e LYxDmer(ial LYJSt structswe5. whL'& modd the 1rnp￿t or rediiccd pupil numbus, as 2 WnJequcn¢￿ ofper￿￿Ved risks a￿1 seLtrK widc kn8¢5: > Teac}￿rS PeDEion reviewa reg(d•rly" > Curriculum RcTriew urLdwviayy > H￿th & Safcty coftimittee to Gr>nsidcr eurrent riTkz" > Ini'esiment in the 8th1)01'5 Inarktting atA communiotions furrtions to zupwt pupil re￿￿ltyn [IstabliJhcd org*nisatioThal struthJrc 8Jid lir￿ of rcwlingi > Upd*Èing of forinal written and amnual adhtrethce monit￿ing*S approwiate. > Clcar li iithorisation ind approd l¢vel5: > BI1r￿rY Polic¥ & tkbtors Poliv in platt" > GDPR compkn.ant and (x)Dsl3nlinvesknJent in ri. resour(ts' > &rfer rtuuitmthit as reguired by for the w¢JteL*ion of the Yulnerable.. and > Well traiiicd dcsiwated stslT, robu8tsystems, whole seknl st4tE traiDiiig Dn Lhild Pi"otec¢ion 8nd SatcguKding. 'rkrough t1￿ risk maDagerneAt proccsses estsbbthed l)v the Srh)ol. Ktjils Sdwl R0d￿ster Gvvernors are utisficd that the. major ris>J haye be.en identshed *Jd #d4uJtrly mi4ated ne£w. It is ¥ystems catt only provide reasoDablebJtyJot aknltsi¢ a&wrAnce that rnajor rL%ks havcl%en ad•p￿t￿Y m4naged. STATUS AND ADMINKsfK4TJON Ile orip.rj d the Schtsol datts ro the foundatioo of a mnn*%ter.y by St Ju5tsL% in 604 AD. King'i SLknol cmeTged as a di5tinit eDury in 1542 Mh¥n Henry Vtu drtstslv¢d the MixJ&%t¢ry and rc-found¢d the Cathedral ￿MmI1 School. 'ihe Foundatton been *)Icnded subx4uent yearj. The liabilLty oFtbe rnw1Jbc￿ ts limi￿d by Guarantee. De￿[S of i.ht Charity's &)%eroorJ and cxethJtiv¢ vffteen •rt li5tcd onp¥g¢ 2. The Ca￿￿t￿S addrcsats and PTtiwlars of th¢ Charity, pruf¢58ionfil adyAsc)rs are y'ytn tsn p¥g¢ 2. KrKucfuRE, GOVERNANCE AND MANAGEME￿￿ Govcrning Document 'I'ha Lhftrity i8gfftrncdbyitsMemc**ndum Artick¥ofAwa*tiory. dopted. on I l O¢wber-2(KX)&8amènded by SpcLial Resnlviiun ¢)n 9 Ntsvember 2015. Api)ointmeot and r￿APPOIntment of Governors The S¢heiJit approvtd by the Ch4rity commissi(￿ wvYid¢s for * m*ximum OFI 8 Tru3t¢eswkn are.GoYcnxot¥ofthe Sthol, onc-lifth of the Nomlnallye atA Cn-opiatsve Govttnu% re¢ire cach ye¥. Thc tiovrrnor5 wntsld like th tske this OpP￿￿nity ￿ th￿k Mr C (WI￿ iii Wtrmber 2021), Mr R Kcrffteit (wlK> resigned Septemkn 2021). Mr P Rothwell (who rtsignd in Ortober 2021), Miss J Glew (Mtho reslyied In Octobex 2021), Mr D GraTre2 re¥l￿ta in ovcJnber 2021) gxd Mt M Snoywdl (who ￿￿￿ed in Ayst 2022) for their hard work, dttlication and supprt. Recrnitment and Training ofGovernors T￿ CharitY'A eLcctca GoYern()r5 are appothtd ￿ the Erst ordinary Meclingof tht Goyernnr8 followi￿ their nomin*tion or co.option and a visit ts) th¢ Sdwl. Pr<*pcctivt Governors ¥e ￿pplIed with 4 pack diDfornLatioTr as rewnmtThdcd by .King's SchooL Rotbester Pa8e 12 AGBIS (Als￿lI￿on uf GoYerniiJ8 1>)&c8 of Indc]xndent &4KK)ts). "Ills iThL.luiks Charity Coinmisyots liaD(Ibook CC3 Reapons]bditie$ OF Charity'l rustees", the kknol'5 McmoraTAuJn and ArtiLk¥ of AswciaLion, the Prospcctus, Jist stsff, mips of the sthoo! rewii ￿ler￿?￿g body metung minutu. th]n￿their f)ntyeAr •ftd gnTbually thtredttr Govcrnors are invi￿1 tu ¥ttend coursci SP￿Orta by AGBIS *Dd ths. Jn additson, #d kn. StralEgic p1anning5cssitw￿ are held iTrhcn 4ppropriate. Orgaoi5htional Management. 'I'he Goytsrlnfs, 88 trustc¥ of the Clwity. •T¢ lègally tespotssiblt for o*erdllnJarL4gement and ￿ntrOl of ￿ kn(Trl, and mec¢ itlwtfour tini¢4 ay¢ar. 'ISc work of itnplementingmostof thcir polioes carried outduring 2021.2022 by thrr tib.tomniitLees, e2L.h under the L4)atrmaDship of a Co%'ernor. The Fihancc ana Estates SuKCommittee, chaired by Mr Markh•Ju Chcsterfield mcets four iinies Per}￿￿*￿ hsresp)D$ibibry lore￿M[￿endt￿e budgets and fLnalisc theauditsd aectsunts and ¥nDual ryrt for apwoval by the Bwd. Ibe Committee akn undertxku the atmual rt5k asSe￿ne11t on behalf OF the Governing Body,"mnnitor5 current CS¢ate¥ proj¢rt¥ and prioriri5cs l)udgets ftsr propos¢d future underrakings. The PersL¥nnc.l & L<.gi51atiorL suTr￿cOmmItt¢t, d*ircd by Mr3Eli72bEdJ Whitlam {A(*ing Chair) meets terrnlTr" and r¢%Trewry the le&slati¥£ fr¥n¢work in wluth the &knol OPtrAteS, WboJl*rty in regard to Human Resourcra. The Education & Pastoral Suh-CotntnAtte*. d￿ired by Can￿1 C Dench meets wmly., Lt revieiys tdiL(>tional ma¢ier6 and Inspcction Fjndikngs. From"S¢pkmber 2022. a newly forrned Auait attd RisL CommAttee K'ill r¢port to the Goyerning ￿y. The rffliit of ed of the tsukcommi¢tw has ¢lr*wn up and 4rced by the G0Fern￿ WY. of the Wb-(vD￿l]ltres reportsAn dctwl to tELe COVern￿ Body. 'I'he d&y lo diy rLinniThg of the &knl during 2021.2022 was delegated to dje Executive knrd, de(Bils ofM&ith ￿¢ listed on py 2. ExeLlJtive Frf>ard metnbcrs attcnd meetings o(tht G￿.tr￿￿ Body andthe Sub-G)mmittees. Key man￿emen1"PaY Policy Managenientpay i3deterrniftedin CODjunctioThwiththt CoveTh￿, PriThc3pal4ndBurwana takes ints> account currtht market demand for piip.ils in the S&ool'5 CJtdwrtent areas. the fJnanLixl perforn)ancc OF the ￿￿￿1, the econon)ic outlook thc '"gving r¥tc of rcniuncration, lor senior mxnagefftent remunemion in the starc se¢tiw and the irAd¢pendent schools niark¢t kn the south east ol England. Ihe key rn￿Énent role5 are dctsiitd ITh trOLe 6 of thc accounts. Emplo)'ment Policy The sd￿¢)1 is On equal opportswdties employer ahd pthitiyely encourlges ypliGtionx from suital)lj qualif1￿ arid ehgible ndidates re?rd1￿of￿x, y, ethnic ￿1ft, sexual Or￿tati1)n, bekef. r¢h"wn, di*bdit)' ormembtrship of a profes8tottJ. ¢Jr tra& utiiort. Conyultition with employecj. or I￿1r r￿rd￿lIatiye3, kas continucd •t all levels iyith the al￿ OF taking views employees intv acc(x]nt Ivlth dtts$ion5 Ire made are lik61Y to affctt their interests. Employees ¥rt inade aware of th¢ . rJnanle law aJKi UK GAAP. Lompnyliw r4utrcs thcTrustces to prep¥e fin•nd Statements for flnandal year. Undu thatlam tht Tru$teu hai'¢ eleGted.to prepve thE finan¢ial ststrments in aecord*nct with United Kingd￿￿ GenerAIlj Acccptcd Accounting Pra￿lee (U*ittd KingdotnArthuntingStandds3ndapplittbl¢law). Unde¥ixsMp￿Y l•wthe"frusttts mustiwtapprove the fin￿￿1] St*ttments unless they are 4ts3Ged they give a true and fair view OF the stste OF aF8irs of the COMP￿). Ind the Group and of the income fLThd expek)ditllrc of the Group for ￿t ptri¢yl. In these £naniid btatrnients. the I'rustee5 *re required to- > JdtL*s11itable a￿￿￿￿*)￿g poliaes thw) apply tkn o)Dsistthtly ob8me the metho& *ttd wks ofthe Chatities SORP. m4kniud￿rrlthts and esbmat¢s that 3r¢ rw¢)nablt prndent: stste whether applicable accounbng srandar& have been Followed. *thject to any matrtiaLI departs￿e￿ diwJo8ed 8nd explaithea the RtWLLial 5tat£m¢nts; and > prep*re the fAn4nttal st•trThients on tkn E45is tt 15 Inappropriate to Fuumt thii the Group andtornpany will iy)ntinuc in t￿int￿s. Klng's SchooL Rothester The Tn]stees are re4)ondble For kcep.ng adeqimtc a￿v￿￿tiNg reiy)rds dut ¥ufficitnt to thow anft explaln the conipny 2nd Group'8 transaetions and di8doae with [t￿nabLe aixijrw at any time the fin4nc¢41 [K￿ltsOrt of the cotnparty and Group and ¢tvble theni w enlure tkqt tht fy- JanLaoI stsrements with the Companies.4rt Th¢y are a180 rc5p)¢Jsible fol" sif¥iarding thé assets oFthc compan! at)d GrfJUP and for tskiThg rea¥oThable st¢p$ for the prevtsjtlon thd dettction of fraud and otl*r jrreykni￿es. So far •4 ea&oftheTruJteu isaNvt at the tirnethe rwt is atyortd: > thcrt rdcvant au&"t inFormation of whith the comwy'5 audltors are unllware. *nd the fruateu k¥e takeD a]1 step tlAt the) ought to takth to make diemsdvrs aiyart OF any rElev￿t audit information and to ¢stab￿"th￿ tk audiws¥re iware of that inf¢)rmation. 'rhi2 reyt, whith inCory￿a￿ the Strategic liepwt, b)" tk Board OF Govcrnors ￿ 20. Mor& 2023 ¥)d SI￿ta on i1￿¢ bthaiFby". Paul Regisiered Office Sats¥ Houie Bolev Hill R4th&teF, Kent,'MEI ITE langls SchooL Roehe8ter page 14 NDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ... . . . KING'S SCHOOL ROCHFSThR Oi)inio We have audited the fma(Laal statetnents of Ku)gs Sd1￿1, R¢JthcZt￿ For the ￿ tnd¢d 31 August 2022 whith coInprise the Grwi) Statement oFFrytLand Actiyitits, L4e GrfMiP7nd Parent Charitshlc Company BAlan(x Sheet, thc Gruup,Si?temcnt or L?sh flow5 and notrs tv the finanaal statexnents, indudir¥ a wrnmarv of signbGctftt accounting ￿]](￿¢￿. Ilje Rnanci rcports.ng framework thatks bccn app￿ in p￿￿￿tiOn is appli(ablelaw Unlted KingdurTr Acwunting Standards, including FinarKtial Reportlng Stan(Izrd 102 TAC lift47walfvt￿￿￿Qndu[dJPpl￿d1C in th¢ UK Wlic oJlr£lond(United KiDgdom Gcnrrally Ac￿Pted Accwntirtg Prai*1￿). In our oplnitstt, dic PLn*naal statements.- Y¢ a true and fair view OF the stth or the gr￿P and ￿e￿td￿ltabjC comp•ny's ￿1r$ as #t 3] AU￿%¢ 2022 and ofthc group and w¢nt Ch￿￿tab]C comwv's net miwemult in funda, induding thc incDme and for thc ye•r tkn ended; havc bccn properly ptep*red itl ¥Co)rd¥T￿ Ivith United Kingdum Ccncrally Atttpted Accounting Practitt. md have bctn PTewcd in accordance with requirfjnents r•f thr c¢Xnpani￿ Aci 2CX)6. Basis for opinion Wt LY)ThdLlCtcd our wditirA a¢rordanre withknttrnitional StaThd¥(b on Auditing (UK) IISAS (UK)) and 4ppliL%blc law. O respnsibiliboi under those xtandard5 arc hrther dexribed in th¢ Auditor's rynsibilitieJ for the audit of thc fbnanLial talemtnts 5CCtirJn of OiLr rwt. We arc Inde￿ndent d thc group in armrdance with tht ethir41 r¢qwrements that are rdev4nt to our wclit Il the Rnantsal btsten)ertts in the UK. indudiDg the FRC'S EtFrical Stsndard, and ￿¢ h*Ye fulfilled our other ethi(*i rewnsibilities Fn a(￿OrdanCe with these r4uiTeuvits. We belieye tFAt the audit C￿ldenCe we havc obta5ned is iutFiocnt and appropriate to providc a basis FOT our upinion. Conclusion5 rclating to going conccro .Tn audtting the Fthancial st*ttmtnts, we have a)￿￿ded that the" tru5tw' ofthep>ing Ix)n(xrn ba¥ii Or￿counting in tht cixrdtion of Ihe f￿4￿03] statcnients i% appropriatc. Bas¢d on the work we kve'pe¥fornied, we haye nor identrfjed atsy uncertsifiOc8 relating to ev￿18 or conditson8 that, individtsally or (vllectively, tnay Si￿1fiCI0tknbt on ￿ group or wcnt tharitable cornpany'È ability to conLitJue as a ￿Ing ￿￿eCrn for a Friod vfat least Iwclyt from Pth3ntial xtstefftents are autkniscd for issue. Ourre¥oDsibJlitse4 aud therespoThsibflstiuoFthe tr￿￿tee8%￿lthre4￿rtt08o1￿gton¢trn *redes￿1hed in thcrdtbant Becuons oftkn'a rcwt, Other infoTJAiation Tk frust¢es are rexponsiblc for the other inform¥tii)n. The ottstr infoym*tioti CO￿1￿¢S the iDduded in the Report OF the Trustec5. Our opirtiort on Gnantial atstements docs not tover the oiher information and. txcept.to the exttnt otherwi5t cxpliaily stated in our rewL YR do not exprtss any Form oFa57ur*nce coneluEion thercon. In wnnection with our Audit ol the knaniial statements, 0￿￿%￿n51*0￿1ty is to read the odlcr inf0rn1ati¢￿ ana, bn d￿'ng sts. .conJider whether the ots information is mattrially inci)n5iSt¢nt M'ith the PU￿￿￿31 btstements or our know.ledge obtaincd in thc auditor otherwise apFars to be materially MI￿tated. IFwe id¢nti()' such m4teri*l i[KC￿51Sttnats or apparent Tnaterial misstateftieD¥s. we arc required to dewmirle whethcr th¢rt is • mat¢rial misstatement in the financial stAteTn¢nts or * material misstattment of the other inf¢ymation. IF, based on the work we have perforn)ed, we condude that therc is 4 material 55JiSStat¢ment of" this other infornation, we are required to re￿t M'e h*ve nothlng to report in thi5 rd. Klng's School, Roehester pige 15 )inions on other matteT8 prescribed by thc Companics Act 2006 In our opinion, based the work tsJdertsktr￿ in the C4yJfBe of the au&"t'. the inforniation givetL in the kcwt QF the Trusttcs {*hidJ indudes the Stra￿)e rep)rt and the th"rectori' report p'epared for the wrwes ofcomwv law) for tht flna￿lI1 y for *hith the finai)tial &tatetnents arc prcp8J'ed is consi8tent with the finanaal 5tatemcnts' and thc Strategic rwt 2nd the dircrtors, rcw)rt incfuded withip. the Report d the Trustees knv¢ been prepared iyi accwdantt with app]ic*bk lyl r4uir£Yticnts. ,Mattery vn which we are requircd to r¢port by exc¢ption In the lj.ght of the knowledge and undtrstanding of grthjp 2nd weni tharitsble (y)mpany and its environinemt ob￿ined in the course of the audJ"t, we have not ideThtiFicd materia misstatememts in ￿ Repor¢ tsf the Trustees (Mht& inc()rpoixtes thc strate8icreport the directors, report). We nOtiW￿ to report in respect of the Follow ma¢trrs in rdatiOtI to the C(*))p*nles Act 2(YJ6 requires uu to report to you if. ui our opinion: adequate accountingrecor& have notbcttt kepib). the dwÈt2ble ¢￿1￿y' or the tharitable comwy fJn¥nLial statsments Thot in agreun¢nt with the aax}U￿rIng recorda ina rcttjrns. certain disd(IgLwe5 of tru5ttts' remwierltion spciifted by law are not masle,. or w¢ haye not rettived the illfc*mation and cxplanatioThs ive ryuirefor our au&t. Responsibilitiy of truste￿ for the financial 5ta¢cments A¥ Lxplained inorc fdly li) thr truste¢s' res[￿n$￿￿.]II1¢s stattmeDt set out OTh pge9 13 llrKI 14, the tru&tces (wlKb*re a]3n the direLtors OF the Charitable compat)y for the purp)5￿ OF ccfflpw law) are rcspoTksibk lor thr prq)3rtti0n o! the &nanaa] Jt*ttmeiits and for king sati5Red that they ￿'ve a true and Fair vi•Y. aTJd l¢)r ￿dI iTrterzul ts>ntrol *s t￿ trustecs d¢termin¢ ii to enahle tlie prcparatinD of fjtwicial slxtcmtntsthat are tree froTn ¥tsater&*l mi5ststement, wl)ether due to &•ud or crror, ln prepan.ng t1￿ rma￿la1 statements, the trwtees ar¢ rcspw@ble for ￿essing thL' ￿l￿￿P and parent c1￿11￿bIe. company's ability to continuc asawng tOT￿rt, dJsc]05ing. *#pplthle. matteJ¥ re]*ted t0go1ngu>nce￿ and using thegoing (x)ncu" basis of accounting unles5 the tru8teu either intrThd to liyidate the gro¥ or ￿ent durit•blc a)D)paiiy or to ee¥5f operati￿￿5, or h•ir no rt*k'stic *iternatiY¢ butto do ao. Auditor'¥ responsibilities for the audit ofthe financial statem¢nt* niir objcttis'ts arc tv obtain rcasonablt a55urantt about whttkr th¢ fiTraiicil statemcnts a5 4 whole are free froTn n3attri miss¢aLem¢nt, whetlierdue to fraud w error. and tolu￿ *0 *uditor's report tktitxclude5 our opinivn. Re#wn.J>lea&surance is a lugh Icytl of 4ssur8n¢t, hut is not a gu¥thtec that an audit mndurtcd in a(xx)rdance with ISAY (UK) *ill always detect matcrtai nli¥¥t*tementWF￿ itexi5u. Mi85tstuntnts can arise.from fraud ur trror and arecvnsldercd MI￿ri￿j if, indiyiduii lly or in the aw¢gate. they (x)uid reazojwhly bt expethd to inAucnLt tbc t4￿￿￿)mit de2 iii ￿coUntIng cstbmatu andjudgty)Icnts. Au¢lit proLtdurts performed by tht ¢n￿g￿ment learn iticlurled.. InspeLtyng rniniitrts ofTruitees meetiogs" lryspeLtittg corre¥i)ondeThce with ryl*tort atmi kn aiithoritsej: Distu¥ions with management 1ndud1ng￿Iéeral1on oFkrK)wn or suy£ted it]Jtaneets &non-compliaThcc with laws aTh(I reylation and fraiid. Evaluating rnanag￿nCnt'5 a)ntrDl& de&gued to ￿vent and &teLt ryul•ritie5' la￿￿)￿ng and.teSti￿ jowna]3" and ' CknllengirLg a*umpliort5 and judgemcnts mde by man3gcmcnl ID tILeir AILtyJntiDg tstinutes. 'fhc¥r. r¢l8ted ta depreuatson. bad a￿bt pro¥iwon and iDvesimeot property ￿￿ts•r10Th. Bc<>u¥e of th¢ inkerent limitations of an •udit, thcr¢ 15 4ri5k tEAtwe will Jiotderelt all irregu]￿it1e3, irlduding thow lea(bng tcj ani•terial mi%8tstCm￿t ID the fin￿0*{ statcmfnts vr non-￿￿nPI]•rtCe with re￿1￿ti￿n. Thi5 risk inutRsc3.the more thal. compliance with a laiy nr reguhtion 13 r¢muYed from thc events 2nd transactiODS rcllected in the P￿￿}ciAl staL'emcnLs, Is we will be Ic33 likely to bcwme awarc of iThuLance$ ofnon-thmplign(*."Ik ri8kiJ akn ￿elter ryalftgirre￿[1rIkn￿ oLt'urrkng dile to fraud Tather than error, as fraudinYolv£s iht¢ntioMI C1￿ct￿lMent, forg￿1 cY>iIusion. OTni&EioTh or misrepre3entation. A flirt1￿r desLYiPtiqn of our yup￿$1b1}ItEC¥ For the ￿al¢ d the Pu)an7 9.684,460 let IriLY>me/(LxPcridi￿re) b¢fore Invesifvkent gains Nrt investment gains 9),837 5,168 521,542 161.342) 617,J79 66,510 550WI9 . -(517.358) 228.037 1289,321) MOVEMENT IY FUNDS Reconciliation of funds F¥Dd bal*nCeS Wt I s41tr.mbtr 2021 . FUND BALANCES AT31 AUGUST 2022 11.388,7(WJ 6,920 2.357,Oi3 13,752,682 14.0¢2.fy)3 15 11,479J78 6,920 U17.25J 14,3031551 13.752.682 All amounts relate to c(JntinuiThg *ctivititr. .All rem￿tiVe stateThentOfF￿lThaa1 Activitics 28 indudcd in note 20, No separdtc Incnmt atsd Expcoditure xo)wit h¥5 becn yodiiced bcoux the Net JnLY)me for Co(Dp¥nieg AL*yposes is the &inie a5 the Net MOv￿l in Funda ￿ thc Unresrrirted Funds. 'rkt tsotes on pages 20 to 37 F£Ynk Prt of finaTr(1￿ ststeTncnts. King's SehooL Roeh&ster. pege 18 BALANCE SHEErs AT 31 AUGUST 2022 Cornpiny NumbEr'. 3791i43 GROUP . 2022 SCHOOL 2022 scFtOOL 2021 2021 A¥rethted A4re51Xted . FIXED ASSEfS T￿￿.￿le amcts Invr..4tyncntr lo￿.983 2.VO,192 13.477,175 10.868.965 2,611.969 13.480.934 IOA56,752 3,021347 13,585.099 10,490,926 3,133,069 13.623.9)S CURRBNT A&SErs Stijcks "5.627 633.1+9 2.641.27 Debtors C*sh aihankand iAFAThd io 9JZ,409 3,198,51J 4.111,698 8S7.176 3,138,067 4,025,243 2,4YO,G25 3.128,070 3.280.046 CURRENT LIABILITTFS.. Crcdits)rs: lmowts r￿ling due wlthln one year (2,Jl*,971) {1.989.366) (2261,572) {1,912.19Y) 1.793.727 1.29),680 ,7￿.&71 I,215,￿1 IDNG TERM LIABILrniS Crediwrsl WOUh¢5 fg]]ing duc aftcr More th4n one ye 12 7J5l) (1,018,932) (967,351) (I,OIB,Y32) TOTAL ASSETS .14 13,752.682 14,J74419 -13,820,934 Representing: u￿re*￿ed Fiih&¥ Restrirt¢d TriirLd5 r.ftdowed F￿1￿¥ . ExwdablEEndowrnent . Permantftt EndowmeDt Funds Isa IIA79,378 6.920 11.388.709 6,Y20 1lJ54,246 4920 11,4S6,961 6,920 15b 15e 15c 1.284, ,532593 I4,JOJ,551 1,333.040 1.024.013 1,284,660 I.532￿93 1,333,040 ,024.013 TOTAL FUNDS 13,7i2,682 14,378,419 13.82Q.934 King'¥ SchoDI, RoL&eiter h35 tsken the exempt5on fr￿n Frfe5tnting its statemetht o(fin*ncial a¢¢ivi￿e4 under see¢ion 408 of the Comp&nic¥ Art 2(K)6. Thè net movemtnt In fvrtds of the Sd￿] w*¥ a surplLLB of £557,485 (2021.. de6cit of £244.810. The Y)otes ort 20 to 37 form wt of tliex financial atatwnents. Th¢ finaiwial statsments were approv¢d aTKI •uthorised for by the Board oFGov¢rnor5 on 21yb Mar& 2023 and were ¥igDed below ¢Jn its behalf by.. Jokn Coen King'$ School, Rochester page 19 CONSOLIDATED C.4SH FLowsfATLMFNT FOR THE YEARENDED 31 AUGUST2022 . 2022 2021 Net cash inflow frorn o￿Tat￿reactiVitieA N¢t.Iho¥eniyLt in fllnd5 Invest￿ent income aDd Irl￿reSt itctSTknle lrtt¢ré#pxvJbl¢ ' r)epreriiiion L05$1liurPr￿1I tbD >le orrixed XE5CU Unre￿1￿cdl05SItroin> on inves￿entS Decre&sel(IrKre￿) in 4tcth IIn(Yea*l/de￿e￿¢ kn) debtrrj Increafe in creditor5 550,869 (44,712) (289,321> 116.800) 30 473,(Kp2 {2,31X)} {228,037) 11.689) 90.952 59.743 (23.5321. 62.048 453,168 6,375 66,510 2,851 (279.260) 2YJ,514 18,4A) I,D35,025 IDecrt&*e) ITh peosion d¢fitst ict pyovided by 0￿rating activit￿ Cash llow froMi in%Ysttog acYtYiti¢s Jnve5tni¢.f•tinwme und mtt¥esir¢tt4Yed oftsngible fixed Prowcds from saIc of tyijgibk rued isscts Purthase offixed￿SctifiYt&tsnents Net ash wtd in inie5tin8 artivitie4 44,712 (499.159) 1,398 . (24,7.13) (477,782) I6,8￿. (132,03¢4 2,3(K) 14.119> {117,0¢91 Cash liows from fin•ncin¥ a¢tiviti Intrrv.s( Fold u¥td in IlnatsLing aLtivilie¥ 1301 (301 Net changc itt cash ca8h ryuivalents ITh the year hantl 4uivaleDts *¢ the btgi'nning of tlJ¢year Cath atxd c*gh equivalents at the of theycar 557243 2*41,270 3.198￿1] ISS,031) 2,6%,301 2,64L,2V Atulysis ofixth and 4Uiv￿eTrtj (4th atknnk Dei)osits 298OIJ 49(K),(w" I,198￿13 7*1,270 l.M,f))O 2,641.270 Analvyis OiL4￿8￿ in net funds. At start C43h At en¢1 ofytsr Flows" of ytar (A5hdtbAnk k)eposits 741.270 1442,757) I,(W.(NY) 557.243 298.513 49(K),O 1,198,513 2,641,2)) Klng's School, Rochester pagL 20 Norn TO THE TrtNANCfAL STATkMENfs FOR THE YK4R ENDEi) 3LAUGU5T 2022 I ACCOUNllNG POLICIES '1'F￿ fJnaft(ial 5tatcmcnts hav¢ bccn prewed undcr the hists)rid cost th)Jvthtton. as n)thJsGed by. the indusioii of 6xed assets invc8tsncnts atmarLet duc certain frtclirjld l*ttd and ￿lfI￿rt￿ at reyalued atntsiints.'iThe format of ￿ Pinaiitial Btatemcnts hasbeen presented tn comply with thc Comwiu Art 2(K16, F￿￿102 I'he Fincnattl Rr￿T￿n8 S$4tdord Gpplicublt in the IJK ireluDd thr StattrThent of Rel￿MMU￿ta Pr￿ti￿ for Uwities (SORP) (Sety)nd Ediiion, eEfcetive l Janu 2019). F%uresare preseTrtediAsterlingand rounded totheneare¥t FrtMJnd.'Ihc (•iwtt>" IB* Public BtTLe&t Efttitya¥ de&ncd by FRSIO2. Going Concern '. Having reviewed thtsdTrotsE'sb￿￿ts8TraFore(X￿tsWIththttWthdO￿0Ingd¢llm￿d forp19￿ atthescknl, the'l rusteu eonsidcr th2t thtrc are no mattrlal uncertsinties wh"& ivould ast aoubt the kn1'5 thility to cot)titiue a go coll(*rAh. A￿)n$t a back￿oU￿￿ OF￿]itic￿l threats the Llkrrent e£K)nomic outhx>k , t]￿.1 rustee5 lllye re-visited t￿1r busine35 plan5, foreG)sts athd flows to Lx￿er a pen.ud up to 31" Awt 2024 aud introduLxd knther xnsitiiiL) aTralysi& ID order to a¥at￿ die ongoing iTnplic4tions for t￿ frknl. Fort¢asts for png coThc¢m a￿¢S$Mer¢I b*ve eonsidered teduted puix] numbers and1t$￿tea income, increased cost b&sc dut to current inflati£￿ l¢Yd¥ along with reduced lundraiwng opportunities for futvre cash projections. With 4 potentially l(Kkg reLrssion, iThv¢5rnitnts ar¢ not exwd to perfonn any beitex kn the near future and rewi'er*bi]ity or existing debts is foreost tv bc more th.￿lL￿1t than in prEvio￿ ycars. Howcvtr, th& SLlkool ha¥ Do current loans place and governtyrs art abo tsLing sreps io ￿are$S uiKertsints¢s mith in(rcwd rewurLe5 for the rnark¢ting 3nd a cost focw ￿oug11 to Aiyt 2024. Givett the sth()ol suificieJ)t rcscrvt8, the'l'ri]stee8 ronsider that tI￿rC •rc matuial unctrtginti&% would rast th￿bt on Sthool'.5 •hility to ntinue as ipng Col￿tr￿. Group Aco)unts 'rhese fuwleial $laLtmehts wn$Dlidatr the results of th¢ charity and its wholly-owned sub5i&ary Eioffa ￿n￿tea on a lino by line basis. A wrate StateM￿t of Financkal Aelivities for the djarity itsdfis not pre￿￿ted bt(yuse the Llwity hL% tsken advAntAge of the exemptions ￿orded by SeLtion 408 of the CornpaDit¥ Art 2(lJ6. General Information The Charily 12 a cvmpny liniited by guar4ntce. in£Y>r￿ted itt England aud Wale5 (c0tnp￿Y number.. 37915431 atMI. chlyiry reg*tered in En"giaAd and Wales (durily lll￿n￿.. 1084266). Tht S(knl w&* o)nYtrted from its dassift(*tion as RocheBter Cathe&al (Kings) kknol. an Un5ncofpAtcd B(Ay tts LiJnited CompTr) &taths aftd began tradittg as King5 ' School, Rod*st¢r on I September 21￿•. SlgnLfiL*nt Estimates and Jud8ements tn prep￿ing these flnat)cil statements the trustces kye had to Jnake estirnates and assurnptions that atfeLt am0￿1[$ recognised Lti these ftn*neial ¥tAtements. E5tiTDates andjudgements are (x)ntinuall)' evaluated ¥nd are baged on htstorieal experience aAd"uther factor¥. I￿14)d￿& wiertation3 OE future events tFAt are beli¢ved to be rosonable undcr the ircumstancr3. Therekey areassubleLt to utimation unLvUinty or judgementwhu¢depreLaation, bad aebt pro11￿0￿ and . Inve$tsntnt propr¢y vaLuation. Incon7e All incotne is itlduded In the Statement of FIDanCi￿ ALtivitiU wheD Chtrity is entitled to the incom¢, Its rettlpt is probable and the aniount be quanlifjd ru￿￿T￿bk at*ry. ThE fDlloiYing Spe￿P￿ PDli(i¢s are applied to P￿ticular otewies oFincomt.' Don4tiOn8 are aux)unted for on a received basi3. Legaaes are * receivable b*sis. the condirioris of tntirlen?enti yobability measuremetjt are met. Whcre prob*kn'bty andlor musurement ctlteria for lewe8 attd donations are not AtisFied as b&ntt datr but subsequtht eventy resolNe &unixrt4tDty ¢ritrJia are met. an ￿l￿tment 15 niadc tt) recow the xncome. FurloughLnggrants arc rtrognixd on a receivable b￿.5. . King's School, Rochester page 21 NOTES TO THE FINANCIAE sfATehlEiifs TOR THE ENDED31 AUGUST 2022 Fecs re￿1vIb"[e irycliid￿ both general tuition ftts aAd other Fees and re&&-ges, net d ¥JJolarship and i"tmiS5ions, is *cuJunted For in the period in whia% the letvitt ts wovided. GeJval wktion fees compri%e all ¥nounts ISA rclatsoD to tuirioD, boardrtsg and InveBtsnent Income is acCoL￿ted for In period ID whith tl* knity entitknl to re￿IpL R¢nt ana interest is accounted For on *n l)¥ix. Expenditu Expenditurc are aCco￿Ated for ots an *ctyuaJs iw. Expcts&tt￿e is 411¢XXtcd to expense headIn￿ on a &rect C05t basis excei)t for ttntral costs which are apporuotted on the b*si5 of the Goveingrs, tStimate of time spent on the rdevant Exwditure on w fun& cornpri¥e the LXAts a55￿ted ivith attra¢tit)g voluntary incomc. the L¥Jsts of tracling lor ndraising pur]x)w and f￿a[Lee (tysts. . Chtritable expenditure comwaey tl¥)se costs irKwred by the Chan"ty irL the ddlvLry of its activitie5 •nd s￿¥1¢¢& for its bencficiaries. It includes both costs that be allLKxted dircctlT to sucl ￿1vItie￿ atsd those cost¥ oran indircct naturc nece5Wy to Jupportthtm. suP￿rt coJts rg)rcsent ¥tslYand costs iocurred in dirt4*ty supportsng thc ttariiing funetion aTLd gtheral running of thc &&ool. GoYcn)anc¢ eosts iiiduac exp¢Dditure (HJ with co1￿￿tutionat aDd sL*WW r4uiremet)ts. These arc iniludcd iwithi'n (x>3ts. Grants and Burgarics Graots and l?ursari¢sfrom restrIrtodfi￿ds7re indudeda5 txwditurc in thtwi¢)dfor whi& the aiwdisgiven. Bursartes and a]loinn¢¢s Irrm unrestriLted towards dool fec8 it ￿ Sdthls ¥etreatcd as •rtduc¢inn ill those fets. tangible Fixea Assets and DcpreciatioTr. Free1￿Id and l£a5thold l￿d and ar¢ induded in tk balancc sTrKet at a valuatioti by Mesgr3 Burkn'll JOI￿30￿.￿nd MesJr¥ Mirhael Rogers, Thartcred Sur%ryor¥ at IT￿orPo￿tion on I Sept¢mbcr 1999, with 8dditiOD5 siDc£ that date being indudd at o)sL Expendttwe ort re￿rI 4nd alteTrtyfjns do not add Dlué tD the wemi8es ts d￿rg¢d to the Statement of Finanaal . Actiiitiu in therin￿￿al vear in %vhich it iy incurred. Dei)re(xatitsn of Fred￿14 builditigs ij ]Yo¥ided on a $traight line ba¥i% over"10. 20. 30and 50 years. D¢pr¢ciAtioTh of le¥eknlil buiiaingj 15 pfoFided on a Str3ight line ovtr the vTrtxw¢d Porti￿ OF t7￿ Itases, the rcm*iDwg ii¥eful IL(e of cath buiidins, or 50ycars, whidjeycr is thortest. Expenditure bn fiirthitUTe2nd 4uipment, r￿es￿ahtlinp9Thd￿blLkn with" a minimum proje£t of£1,(￿, M41ich haTrt an exj)ccLed uycfvj lifc sn rxitss of Imc year, Ire indudd in the ￿]I￿L* theet at (*lSL D4)rcaation is providtd oyi a 9tr4isht-line ￿￿.8 at r*tes between WMI 25%. EX￿di￿￿e Qjh #th￿[er items ts d)#rged to thc Stakemcnt of Finanual ALbvi¢ies in ￿.y￿ of ¥quisitson. vutment Propert) Theinyestsncnt propeitYiBindudedatFaSr ￿u¢#t￿ValUltI￿C0mpIettdbYywD (CharLered &JrvcyoTS) 19 Noyembcr 2021. Financial In5trumcftts B￿1¢ fiDanLii41 instriimcnts transadi0￿ tFAt rcsuh in the r￿￿ltiOn of PmanLi*l a￿ts *rtd liabilititj like trad¢ gnd othe acts)unlJ rccebvable *nd pvabk are a(Trwited for ¢)D the folk)wing b15kE: Klng's Seh(boL Roeh¢ster page 22 .. NOTFS TO THE PINANCIAL ￿ATBMFNls roH THE YEAR ENDED 31 AUGUST 2022 Invtstrnents lThv68tments lield for the long-term to guw*te inLY)me or ￿￿tal gr￿¥th ¥c O￿leA at fair %3lue ay Pixca ssscts. The StsteEn¢nt of FinatEo*l Actiyities iThcludes the rtet21u￿ and1o5ysari¥iDgon rcyahutions and disposa]s11)roughout the ycar. Cd5h tqulTdl¢nts Cath and osh equivaletkts includcs osh hand, deposits at baJhkJ, ofkn 5hort-*rm highly liq￿d inY&$tments with Origin￿ matrjrities vf thr¢crnonth¥ orle&g ￿db￿kovtrdr*fts. Bank￿¥&aft5, when 4)pILcable, are 8hthYn with>n cutyent liaknlitias. Drbtols ond ¢r¢dittrrs Debtor¥ and (xeditors ar.e rneasiwed at the tr￿￿￿10n vice Its5 provAsion for impwrmenL Any arising fi.om impairinent arc rocognised as wditurc. AoDk borrowitt8s LAabilitics far Ix)rrowingJ are yJbieLt ts) a o)arketratc oFinterui¥e m¢4sureoq at the value of the amvuntadYw)c¢a, les5 QPÉtal rcpaymeThts. e¢ Its uJYdW¢ KAMI¢ 1lic .Scliool hA3 an •dvance fees scberne wherd>y paruAt3 and othfn m•ke ad%3nLY pavments. wh>ch ttsgtther Ivith the diswunt thereon, provide for 4 set wlltrll￿ti0n eath ten￿ towards the pupi15' re￿, Th capital prtion oiitstanding is rccosntsed a liability and thc 4mount of dtxxjunt (Jy3t•]lised in year is induded in the Ststcmcnt of FInar￿aL Activities. StULks Consumablc Sts>ck$, yovisiom, stAtiot)ery and sdjool arc dMrFd tothe Statcrnent dFinanaal Activitie5in the year of purchase. Stock¥ lor reAle are stated at the lower &cc*t and net realisable value. Pen510n5 'T￿ Sthool operates thre¢ xh¢mu to P￿ide rttirtme4Jt bthefits f£* staÈFmtynber$: Tr wion costs arged to the Stateme¥At of Fina￿9￿ kntiyitiu ¥e determi1￿ as follow5: ThcT¢achtrs' Pension S&eme-'INsx&¢me ts arnulti-employer pension xkne. It is notP￿ible ￿IdentifY the School'5 shaT¢ of the underlyiDg 8ssets and irnbilitiej of the TvAthcr3' Pern%ion Scheme on a eonyRtent •nd rtr450nabJe basi$ 4nd thcrefor¢, as reqiiired by FRS102, aC￿￿￿ts for the sdKtne Is if It w¢re a d¢fined ￿￿tributiOn ucheme. The Sdiool's Thiributi¢ns, which arc in a(Yordonce with r¢aMnrncn￿tion5 of thc GoveTnment Acbw, are tharged in the pcriod n whith the 5alaric5 10 which they reiatc 4re pyable. 'Ihe PCIL￿on3 Trust Schemc li a multi-e¥nployu dc£ned beTh&it sdxme fLTrr wkn'ch the School'E"share of the undcrly'Dg assetsènd liabilities 1>F￿0t be lep￿X￿}Y ifkntsficd. Th5 5&rnei3thertSoreaixDunted for asadcfined LDThtribution schemc in ac R¢tained losa for the vtsr 69561 109,505 Balanre Sheet ri*ed ts¢ts Stttk JSO￿] 1776 28A TI 60.446 (58,743) (I,lTh),fAKI) 16,713 378,039 5,627 21.648 150,645 1103,111) (I,i¢yJ,cw) Debtors . Cath at bank Crtditors due < l yetir CrtAilLK"¥ due > l ye4T Ntt liabilitiet Sh*t¢Lxpital ¥4na re5eTVfa ar¢ wlt31 Proftt ond lo￿aC￿)unt 16*7,152) 1716,813) 716.713 1647,2i2) Equity sharehol4l¢rB fuThJs (617.1521 £39,379 (202 l.. £33,329) of turT￿ver *Jd £19,379 (2021: £33.329> ofo)st of rtl*te tu traJ)kdiuns with Kingi Sck()ol, Ro(4estsx. Ihcse hye dimirAtsd ￿ o)nsJlidatioTh. Klng's SehooL Roch¢ster page 24 NOT￿ TO THE fINANCIAL STAT￿￿￿E￿rs.ToK THE YEAR FNDED 31 AUGU￿ 2022 NYfMovEhiwf IN FUNDS 2022 2021 Np.¢inovcmtnt in fvD(i% i¥ tstr.d after &￿￿1￿&= T•n¥ible fixcd %s*tts owned Operdting Icas¢ pyments KI￿,$ S(knl. KothcBttr 453.J68 4?3.￿2 20,CO) on ofPTred gs*tx .Audittirs' r¢muntfdtvJn For auditW.TVitt Kin8'5 ￿4￿], liadythr Roifa Limitrd . Auditors, rymurter4ti0ti hr othcy strnic 6.375 15,800 l4,700 4.&SQ 6.225. 3,450 King'5 School, Rochester page 25 NOnSTO THE FINANCIAL STATEMENTS IflR THE.YBAR FNDED 31 AUG￿ 2022 6 E,MPLOYEE INFOILhl.4TIQN The &Y£Ya￿ weekly numknTr of employees duriDg the yex wajmade up88 follows.. 2022 Number 2021 Numbrr Te*¢hing St•lT OtherStatF iloffa Ltmi¢ed 105 121 109 15 246 Z55 Employee StslFLY3ts Salariei Soth1 $etsriiY costs. >vNiDn contrl>ution 5.903.194 $23.$61 777.175 5,850,923 524,30S 826,933 7,20J.930 7.202.161 During th¢ year rcduThdwL Y payments of£24.892 12021.. £NI) were m•&e by the Sdwl. No teso)ination p4)rynent3 were mil dc by RotrTa Lirnie¢d durirlg the ycar (2021-. ENil)- Th¢ number oYLinploFes earnlng oyer £60,(￿ ytar wert: 2022 2D21 NUME £60,C¥)1 . ￿70,[1￿) £90.￿1 . Élo0,￿0 £IIO,LK)1 . £120,(KN) FAvt {2021.. thrtt> ofthe employtcs eartsing niort £60.rm arr nicmbers of theTtachcrs' Pehsion thtne. 'I"wo emplu J'ee3 eArning mort than £60,(W are mcrnbers schemc run by Lepl & General. one IJ a member of a Sd￿￿¢ ntrt by thc IndLFa¢lent Sd￿13, Pujsion SckJcm¢ ¥&d (¥Je its • thtmber of a wivate scheme. Key mawr.ment penonncl . Thc k¢) mwymeDt roles ID the s&ool wtte thE go¥crnw5, .who nnt pad. th¢ PritDpal. Hctdmaster of the Prepantory Sdwl, He2dmiBtre35 (Itthc Pre.wwatory SdMK)l and the Bursar & Clerk to tht Gover[m￿s. Dirccts)r of Exttrnil R¢latI￿5 and the Dsrettor ofoperatiolls. Their totsl emolumcnts indudingbetbcfits and employer's pension and national Inwran(x 0)nEr￿tiOr¥ &558,692 <2021: £507,604)". Tr&n5acti0ts8 with Govcrtkotrs NoTht of t1￿ Go¥'crnor£ reccived any remtsneration during the puid {202I.. £Nil). The aw£￿te amouttt ofcxpenscs relmbursed to Gtsi¢rDor8 during the year £908 . travel for one Guvtrnor (ZO?1.. £591. 'IiYo ehildren of one ￿Ver￿tsr (2D21..'liFo*lildren ofone GDverJwr)attcDdtd Ki￿6 ¥iidtkyreLeTrv¢d some a88tst￿￿￿ towards paymcn¢ of adwol fees ots an an￿S-1¢4)s￿ b￿lS. Don*tsnns tytalkn'ng £5.596 <2021: £2,475) wert rcLri*d fromi Governw$ during th*year. King's SehooL Roche$ter pag# 26 NOTES T.0 THE r.INANCIAL STAT￿￿21T$.r0R THE YL4R ENDED 31 AUGltsr 2022 7 ANALYSIS OFTOTAL LYnNDmtRE Stsff Costs OtheT 2022 Chvitable aetiviti EducatiDn 5.3n,966 430.525 371.137 862.61? .701 935,376 324.40* 646.557 29.327 21,013 70,112 319,152 5,946.779 1,685,OS3 710,657 I ￿20,058 29,327 21,OlJ 9,912,887 PreTrI￿*S . SvpFKrt 10,889 GovcrJi*rt(X (X)sts Gt4nts, prixe5 Total for charity 7,032,240 2,465.378 . 415.269 I'rad4ng cojty tsftbe #thid￿Y Total forgroup 1?1.6 202.Y69 412,S58 7,203.930 2.668,147 453,368 10,J25,445 Cr)mparativ¢Anaiysls vl'Totsl Expcnditu Stsff rkprea*lM>D 2021 . Charitable actii'jtieB S¢hooJopva¢tny ￿tr." Edur4tio 5,2gl,740 430.897. 440.420 s65.￿2 412,623 635.744 239.388 501.633 26,210 20,419 1.886.017. 61,098 349,022 14.56A) lo.￿1 5.771,461 1,465,663 694J&8' J J75,846 26.210 20.419 9,3SJ,%7 PF¢ty)Izes We.Ifar¢ Support coye.ft￿TrCC ojats . Crants. •¥Ard5 oThd pri 7.032.899 435.051 .Cortg ofTai5iTrg funds" lrttcrestpayable Total for d￿rItY 30 7.032,899 1,886,017 435,051 9,353,997. I r*din8 LYJits of the wbsidi Totsl for gyoup 169,262 123.2SO 37.951 330,463 7,2￿,761 2,(lJ9,297 473,LThJ2 9,684,460 Klngls School, Rochester pag¢ 27 NOTES TO THE FINANcIALSTATEM￿S FOR THE YEAR FI4DED 31 AUCILff a)22 . 8 SCHOOL AND GROUP TANGIBLE ASSErs Group FrethDld land 4nd bvildings LeaseFrtl build Vehbcles and equipmctit To Cosi or i'a]yation At I Septtmb¢r 2021 Additi￿15 I.￿9,269 YN,314 2,370.701 33,IS2 (31.333) 2.527,685 161.693 {32.Y$ 2,656.391 I?,6￿,655 49Y,159 64,320 T08è At 11 August 2022 13,013,58J 2J72.520 18,042.494 DeprtCi3lÉon t I Scptember 2021.. Providing duriD8 year Di*uM15 3.721,217 209.911 1,034,529 71.088 (2.1,£601 l.fA8,057 1,982.9H f66.369 (32.1)871 2,116,326 6.738,690 453,168 56.547 At 31 A￿Ult 2022 3.931.128 7,135,511 Tot￿ Ex)ok Value At31 August2022 9.{￿1.455 1.284,463 540.065 i0,Y)6.98J Totsl ntytbook YgfJ* t.1 &ptethbtT 2021 988.052 1.336,172 544,741 IOW,965 School FfteTrd4lwJd wid lld￿5 ixas¢hold Vebide$ *L ¢*uptsiettt lotsl Cort orvalts*tio t l Scptrmber 2021 AdditsQi Disposals 12.709,269 104,314 1.793.766 22,861 Pl.333 2.413-,115 161,6Y3 (32.987) 16.,916,8$0 488.868 64,320 At 31 Augu¥t 1022 13.013,583 1.785,294 2542521 17,341,398 Depreciation At I S¢ptr.mber 2021. PrO￿lding durkng yt¥ t)15pO￿ 3.721.217 209.911 814.830 45.G18 (23,S 1.889,871 159,710 32,￿￿} 6.425,'924 415.269 56.547 Ai 31 .4wt 2022 3,931.,128 834888 2,016,6JO X84,646 Totsl net IMM)k YaliLt At 31 A￿U¥t *122 9,￿2,155 948, 525,891 10,554752 Totsl itet ihwkyabje At l Septslllv XJ21 .988,052 18.936 523.Y38 I0.¢￿},1)26 None olthe buildings #rc l*ld" lor 1nYeAttnentpurp>￿. Otb the forniation of the comp￿y* certsin eThlowed prowties were retiintsl by * separate¢han"ry. Rothester Cathedral King'$ Sa￿1 EndowTheTht'iNst (Charity Numbcr 3(17922). King's School, Rothester P8LY 28 NOTHS TO THE FINANCIALsfATEMFNI3 AIOR THb YEAR ENDED 31 AUGUST 2022 9 FIXBD ASSEf INVRSTMEKrs GTOUP QilQtcd Invcsknents Invethcrtt 'rotsl Prnwty Market Y¥lue I septcrn￿.r 2021 RelJL¥ested IbcoMe/ad&ts¢J￿x UnTttli5¢d lot*es 285,(MY) 2,326,969 24,733 56,510) 2,29S,192 2,611,969 24,713 66￿10 10, Market value 31 Alig￿¥t 2022 275,IMI 2,$70,f92 Schovl Quoied lrt¥Ertmen InYcsth¢ntltL" subs0ièry . (wTwtcd) Invekncftt lowl Prwy Pthrk'etvJve I Scptemt*T 2021 Iltin*e5trd ints)m¢/additiO￿f I￿￿41￿ment Uare￿￿ Ios5e5 521,1(K) 285.cKX) 2.326,969 24,733 3,133,U69 24,733 (62,945) £6,SiO (62,945) {io, IS6.ifO) MarlLet value 31 Augu>t 2022 458,155 . 27S.LKN) 4295.192 3,028,147 I'he inv￿￿￿¢￿£ in thr. sthiidi•ry. Rol¥a L4rtiitd reprcwits ItTh rf th¢ eothpnll th*re (apitsl •nd £L.ICN),IXK) of Sknres. FollDWittK loJsE4 iii Roth Uniitrd ar*d In imixirment Teytew yerf¢>rmcd by TiuSttrJ, &. Rede.C]n4ble have been rittr.Tr down ra fhc'l'Yu¥tots' esbthat¢ uf rcu>vtrablt. arnounL RoFFa iimlted was incorpvrated 1988, Its principJl divltseibeiDX theexterftal hlrlngofasports ttntre, letti￿Or3(￿l tel•￿ lioUt4uand thE Aieofusnfettktsn¢ryènd.. Snacks. King's School, Rochester P8BB 29 Norn TO THEEtN.4NCIALsfATEMENTS FOR THE YEAR PTrIDED 31 AUGUST 2022 10 DEBTOKS Group School 2022 2021 2022 2021 As rÈststd . Ai rcstard 5Y).225 27,8SO 294,334 433,441 12,085 187,613 s￿,215 27,850 26$,7￿7 3,344 B87.l76 433,441 13,0&5 165.975 2S,944 637,445 Suftdry deEknr3 Prtpid eYpeJKY8 Roth iamiled- intrr£YJnbpfyy 912.409 63J,149 . I I CREDITOR&. A,MoU￿TrS FAIIING DUI WITHIN ONE YEAR Group School 2Q22 2021 2022 2021 r¢8tsted Tr4de creditors Prtpid It . Ftts in ad¥ahce (note 13) Piipil deposits xo¢iil seCI)rily l>cnslon defidt rediirtson ntribuboh5 (Dutc 17) Otk¢r crdilars neferred inctsme 191,352 979,751 414.241 34,X15 IJ2W9 176.396 844170 424,373 43,238 138.405 ' 168,9)8 979.7SJ 414,244 34,90S 124th56 148,529 846,170 424,373 43.238_ I26.￿3 49,621 155,218 160.0 202,329 4319.971 SO,8J7 171,014 49,623 155,218 160.r 177,167 2,264,572 50,817 l?A,Q14 118,955 1,989U66 101.195 .912,199 12 CREDITORS: AMOIINTS FALLING DUEAFf£R.MORETHAN ONE YEAR Group 2022 Scho(hl . 2022 2021 2021 Pension'defLat rcduction cofttributitsD3 {wie 17) FECY ID (notc 13) Pupil depoalts 403,420 229.984 333.947 967.351 420.716 211,717 3A6,499 1,018,932 403,420 229,914 333,947 %7.151 420,716 386.499 .QJ8.932 King's School, Rochuter Pa8e 30 NOTFS TO THE FINANCIAL STATEMENTS K)R THE YEARENDRD 31 AUGusf 2022 13. FEVS IN ADVANCE Pvents have the OP¢ion of pyitsg skni F¢¢s for dtber prt ofty tiuiE d&t the p4x] 1$ at the x&£*>l. mfincy 18 retyroed if the duld ts withdTaWTh from thE S¢knol. ￿traT￿Y 0kntstthd￿ fetsart deducte(l and amouots tswJth84r¢ 1a&d. Assuming pupds will rem￿￿ in the SdKKbl, willbe #ppl￿d as folloiys.. 2022 2021 one yL¥r 414,144 424,373 Within one to ￿ yexs Wlthin to five yewJ . 162212 67,772 229.￿" 6U.228 141.753 69,964 211,717 636.090 Ibe mo¥emeDts during Frwere." B4knth¢e It 1 5cprÈrnber 2021 Addi￿0￿ to 5chemt Paytyents of f¢È JIa]a￿¢C *t 31 Auw.i 2022 . 6340 514,(A2 S92,224 426,470 1382,60*1 636.090 644.228 14 AIIOCATtON OF GROUP NET A&SE15 lan8ibJt asyets Inve51ments Nrttwr¢nt term Totsl At31 Augujt 2022 Unrr.Ttricted Fun&% Restrieted r4eodabl¢ Eknmut P¢tm*trJeAt Endowmtot-. 9,828,134 1,358,710 1,259.885 6,920 73,178 4)3,744 1.793.711 (967,3511 11,479,J78 6.920 1,284,660 1,532,593 14,103￿51 1,211.482 1,078,849 10,90498J 70.192 7JSII. ComparAtiv¢ Allocation ofGroup NetAssct 'r￿iblE J4ets L￿8 terDb Totsl *￿t$ At 31 August 2021 unrestrlr.ted Rc$iriL*£d bxpendable Etsdowment I'ermoLent Éndowment 9.775,671 1.339.145 1.292,819 (1.018,932) 11,388,709 6,920 1.,133,04 1,024,013 .13,7S2,682 1.272,824 60.216 {6Y.275) 1,290,680 1,093.288 10,868.Y 2,6Jl.969 1.018.932 Klng's School, Rochester pag¢ 31 NOTES TO THE FIN.4NCIAL sfATEhlL7NTS.FOR THB YEAR BNDED 31 AUGU￿ 2022 IS FUNDS 1S* u1vestr￿tea Funib UnrÈ4ttict¢d Fund#- Grotsp Basaryce. at 31 August 2021 IrKome at JJ. August 2022 g4irti/ lo￿)0nd GÈnernl Buysary Rincl 10,696.818. 1.339.143 12.035.961 (647.2521 11,388,TrJ 10.0¢3.229 24,733 10.067.962 322.063 10.3yJ.r125 [9.￿2.561) 10,837.483 1,359,708 11196,191 16,813 . 11,479,378 (5,1681 (5,1681 I9.￿2,564) {391,624) 10.294.188) Sd)gxdiAry fiLn¢Es (5,168 UrtrLstricteil Fundi- School Ctibenl'fiind or5aTy FiThl 10.117,818 .339,143 lo.￿5.229 24.733 10.OQ,Y62 (9,￿2.56$) (62.￿5 (5.1681 68.113) 10,IY5,538 1,3S8,708 I1￿54,146 (y,￿2.564) The ilur¥ary fwnd income contynum tr) Ee rcinvtttd uniil it rta&d suffK4enr si?£ to make * wwthwhiie contributiDn to bursL"ieJ For pypil$. .Compar*tive 2021 at31 Auyt2020 Expenditure invethjcnts P4hnLY at 31 Avgwt2021 trath5ferS Unreffjtrictoil Fur¢(l$-Gvoup Gon¢pal fvftd fvJt32ry Ftsnd 11,178,818 1,102,*17 2,281,23S {S37,747) 11.743.488 8,932,88? 4.119 8.937,(K 210.293 9.147.299 19,331,9JOI {82,9T4 232.607 14Y,630 10,696,818 1,339.143 12.035,961 (647,2521 11,388.709 19.331.Yl0) (319,79 IY.651.7081 Subsidiary lurtd8 149.630 UDf¢$irietwJ FuDds-Schuol p￿traI fiartd Burwy FuThd 10,664.81B 1.102,417 11,767,135 8,932.887 4.119 8,9.17,(P)6 (9,331.9101 1147,971) . 232,607 84,630 10.117,8ts- ,33Y,14.3 11,456,961 (9,331,910) Jsb Rutriaed FuNd5- Group and School ExFNknturt Balanc¢ at 31 Aygu3t 2022 Augwr 2021 RestTir.ted Vunds (Ir*ttd p￿ryo fiind 6.Y20 6,920 Comy*4tsYe 2ffll B•jaI4￿ *t 31 Aug4st 2020 lance at 31 Augu6t 2021 Re4trided Fwids Cr4nd PiiTho FuTrd 6.920 Klng's Sthool, Rochoster pagc 32 NOTrS TO THE fINANCIAL STATEMEirfs FOHTHE YEAR END>.I) 31 AUGusf 2022 IS FUNDS (eontithued) 15c ￿ndoW[￿¢llt FundJ- Groitp uid Sthool Endowment Fwi¢L . BJhtKe at 31 Au&i3t 2021 Jnwmcnt ()riglsMI r.'rtdowmeot The Sir Gvoffrey gnd l•ay Iwbel Bvoett&knlatsbiy Fu 1,024,013 (14.439) 1009,$74 523.019 S23.019 554799 523.019 1￿32,$95 2,817,253 ,024,013 2.35?,053 (14,439) (31,257) ETrdowment Total (61.342). ec•m￿rative 2021 Endowment hibds l)ahDCt at 31 A￿%￿st 2020 IT￿￿)￿e Expediture I￿￿*Men gAirts/ .ltsfSEI) B￿ance at 31 Ausu&t 2021 -Èxpcndable EDdowrneDt r.und Ceoffrey trlarm*v￿.fw1t Augusiine Cari*ll F¥hd RCKSbY ].(￿3,336 89.985 159,822 1,253.143 1,038,4i2 2,291.595 16.150 (13.922) 83,051 1.088,615 8Y.985 154,440 1,333,040 ,024,013 2,357,053 3,653 19.803 (4,391} (18,313) (14,4391 132.7521 {4.6Hj 78,407 PermantTrt I*￿a0￿ment Funds EnasiS Nvitli contributions from iTteJnbeis and the empltsyer bel￿ credited ty thc ExdKquer. RclircTrtehtAnd othcr F¢n3iOD beotfits ¥e pd by pblic fiuL(ts wovided bj ParliamcDt. The clltployer con￿bUtiOn rat¢ is Stt by thc 5c(T£tary of State folknwing U￿at￿ke￿ by Lh¢ GoVcr[￿leTht Actu￿,8 Dcpartmettt. Th mwt rec￿ *cbwial voluation ofthcTPS was i)rewed at 31 Marth 2016 and the V8lu3tson Report. wtjith was publithed in 2019, (yJftf5rmed th*t the employer (witribuii()n the 1'PS would ItLcrca£e. fron) 16.4% to 23.6% fr￿￿ I Stptcmber 2019. Employcrs Are al￿ rcquired to py a scheme miThistyaiI￿ leTr¥ ofO.08Vogiving atotal employtr (￿li￿J￿0￿ r4te of 23.68%. T1￿ 31 M•rdi 20E6 V#lwlioo Report prwed io *Lrord•n¢t with th¢ btnthts Jt¢ out An >knc regthatiolls and undu the approach sptuRcd in.tht DircLiinn3. ￿ thty ¥phcd at S Mardt 2019. Howeyer, assumption5 wert o)Trsidtrcd￿)a setbi the Dcpartsnent for FdtL(atioD to & rthingin the 'McCloUd/%￿¢2nt (ase.. 7'hi¥ c45¢ h*5 requStcd the £y)tirts'to ryd has ¥aid it Mil ¥ge fully with Etnployment Tribunal iYeÈl as wnployer *nd rewsrcntatiyES to Wec the di3￿101￿r$ati0￿￿ will be reni¢di£d. The 8oYernmebt annwnted on 4 February 2021 that it intends ¢C* yoced with a deserred undtrpiTh under whicli member5 wiu bc #bl¢ to thse ektlw It￿¢7 or refoTmed s(kne bth&its io Teslxrt oFd*ir duriog th¢ period between I April 2015 •tKI 31 2022 uthc pthThtd*y iwxnepy•bk. King's School, Rochester pAge 34" NOT)JS TO THE FJNANL'IAL STATEMLP4TS FOR THE YEAR ENDID 31 Aucusf 2022 17 . PENSION CONTRIBITfioNS (continued) Teachers, fcn5ion Wiemc (rottti17ued) The TPS i8 suhject tn a ¢0gt Lap meith*ni$m fin.pla￿ to wntrct ftgain5t unfore2een dtsnge3 in 5chenie wsts.'fhe Ch'ef to thc Trea¥wy. htv1J￿ in 20111 anTh()uiiI￿ tFAt there woiddbe areview of this (x)5t cap mcchAni8Tn, in January 2019 an[Ltsun￿ a to the u)sr (y methanbsm fullowing the Ctsurt u&'Appeat's ruling in t￿ MLLloUd/sarge￿1C <*8e *Ld wita there is about tix yalue of Pulsif￿￿ to employees Jrorn Apr)J 2015 onyratds. The pause was liftrd in July 2020, and a consutkntion wa5 lauuched oji 24 JUDC on i)ropo8ed ththg¢5 to il COSt wntrol me th¢ contribution r•tes ¢f the Trs. AceordiDglTtr llOPTOYi8ÉOn for ttny *dditiixJJ past benctht ￿sio￿ 18 Indu&d in these P]n/ncial statemcnts. During 2021_2022 the S¢knl al￿ Intr(dua * defined thnLTibutioti zdktrje #g a further Fn3ion wo￿$10n lJptiDn for teathing 8talT. 'I'h¢ plaTh ij a Worksavc Pension Plan ￿Vided via Legal GetLual. Iht Jyiision (tharge for thc ye¥ iThdude5 contributitrjs paFble tn the Leg*1 & Gcneral Kljcffte oYU3,237 •Dd èt the ￿￿Tra £21,278 wa8 &ttTued in rcSP¢Lt of c(>ntriblltiow to thii 5(kne. Inde.i)endent Schools Pen.*ion Schcmc (opernttd by the Pension$Yrust) Som$support admini&tratlV¢stsff aremember5 tsf 8defwedl)e4LefJtpthsiim schemcTun b) VtrityTruste¢s kn"tt)itea. Verity is the I rustee rfthe Pen5itiThs Irust for Charitirt and Volunwy Orpni58uons; the peTh5ion $d￿ne ha5 b¢￿Me. part lThd¢￿Odetr1 $d￿0]s, Pension SdJcJne (ISPS), a sdxmeiyithm theTrust. Thetmplo)'etr*te ofwntribution in the year w9s 8.35%, the S(knl'y ￿ntrIbutiOn was 10.95%. Th¢ ISPS 8ckne 1$ x multi-fmploTrv dtfjned henetit sthcme wtth yarantc¢d btnefit5 f￿. LILrrent and former ernpioyeu of tht fomw l>a8ed 1/80th of final Salvy. The thol would i li4bility it it c￿d to wtiapit in thc ISPS whKh it Xl Scp¢embts 2021 Ma$ ￿lCUlated Is £2,009,480. The neXtnIuati￿)￿dU¢ at 30 Septsmber 2024. As th¢ S(knloJrrentl} knrLopkns to le4¥c the Éthcme. thi8 contingemt liability kn Dot betn prorided for ID tk accounts, and a5 the Actuar) is urthle to idrxLiiF!' its share d the underlying a3sets and liabilitses at 31 AuyJ¢ 2022. kne h4s been *cmunted for a5 a d&ned LYJntribu¢ton 5&etne as permitted b) FRS102 and a)ntril￿tiOnS all￿U￿ted Eor due. Arly yd peusion deficir funding pl￿£￿ts￿re provided for on a Jig>)unted b￿"s. The sd*me is.subjcLt to ￿ funding Iw51alion out]ined in th¢ Ptnsions Art 2CXY whi& into 10T￿ on 30 Decenibcr 2CK)S. Tkn. tti￿ther With dth)￿￿tALts by the Pension¥ Rc&dator and I'¢d￿t￿ Actuarial StsDdard5 iwued by th'¢ Fifthn￿l Rewiithg Council. set wt the framework for fund￿ &PffttyJ beTJ¢fit OLVpti0n￿ PthEj¢)n schemts in the UK. 'Jke stheme is dassiftd aa a 'last*man 3tandtn8 3rr3ngcment'. Tht*¢fore the cornpthy 13 Potcntlally bobl¢ for other .partieip8tirtg employer3, obligatioiLs if ¢mploytrJ arc thLable to meet their of the ￿eme defitit follomryng withdrawal ftorn the scheme. Parti(iFAtitJg eznplDyers are kgally required to meet their slwc oythe scheme defiiat on annuity purcFAX b¥w on Withdraw￿ from the $d￿t. A full actuarial Valuation for the xknme was carried otst at 30.September 2020. 'fhi5 Trnluation sK)wed tss¢ts d £201. Im, liabilitie5 of £?56.3m and a deficit of £SS.2m. To diminate ￿ fith&"ng th￿311, thc"Tn￿tce asked the Par￿(l￿tIng emplow5 to py additional contrthutions ￿ the sdeme as follows.. King's School, Rochester P88e3S .NOTES TO THT FINANCIAL STATEMEN]S FOR THI YL4R ENDED 31 AUGU￿ 2022 IndyenaeTtt Schools? Pe)tsioTrScheme (operated by the Pth5ionS"T￿st) (eontinlled) Deficit contributionj From I Septtmber 2022 to 30Jwie 2032 £2".687,th) P￿ ajjnunb (pyable inoJ]thIy and in(T¢asSt¥ by 3% each" on ltst Scptcmber) 1&e r￿)Very plan th￿trIbUtI<)￿S are All¢x*td to cach participating tsi)ployer in linc with their estimaird share oEthe sdLeLne li*bthtLts. Wherc thetsd￿ is in dehca"t*Dd where the company has•y¢td to ad¢fi(itFW7dwg￿angcMtrntthe 8d**)I reeogniges a I￿111t¥ for th￿ obJJ"gation. wis¢d is the net present Y￿lle d the deRat r¢ducrion LWAtI'klxitions pa%ablc uiider the ¥reenent that relates to dtnot Tr ytwitvalue is cgloJ]*ted using thE discount late actsilcd in th¢se disclo￿res. The ithWiDd*ng oftht di5wunt rate is rewgnised a5 a fmance cost. '￿ a{￿Ul1 amount due by & sthoo! from I Stytunbtr 2022 to 30 JunE 2032 i8 £51,(MN) Ipyable monthly iiiueawTrg by 3% e¥04 1)n Ift septemb￿). 2022 2021 ￿t￿n￿lIa￿On of opts1￿ and doJingwuVixo￿:" Fro￿￿l0￿ at 2tsrt 0F￿r1th4 Unwir)ding uf disommt FaLtor (Interestexpeth3e) Ddcit WDtribution RemeaswemexLts-inxpact ofaoy th>Thge to ￿￿rnPl10ll8 Rtmeasur¢M￿ts- ¥mendmcnt to mntribuii0Th5 sd*duie 472 495 (si) (75) 102 (49) 22 Pro￿%]￿￿ at r￿d of puiod 4SI 472 Split as follo￿. e within one ytar Due hFter oneyear 51 421 403 453 472 A&8UMvnoNS 31 August 2022 4.31 JI August 2021 31 Augu¥t 2020 Rate ofdiwwJit- num Tr discthjnt rates aLw)ve gre the equiY*kiit singl¢ fa￿ whi&, ustd discount Futur¢ rc¢oN¢o pian (ontributions due. woiild gye the aame r￿lts as usingafull AA wryorate boha yj.eld cwvt tn dwount the ￿niC recoyery plaTb contributioiis. The l￿m￿n¥ n)usi rcU)gni% • liabJity mC￿Tea as the prestht w•lue dthe u*itsllbutions rrtyable tkn arise frum the dePicitrcwvcry agrecTrent and thc reaulLirtgexp¥￿t th¢ i¢KDrn*.8Thd wxn&"tur¢ aLrount i.e. the ￿n￿ndIng <)f the disLountrate 8s a Rnance coJLiTh thc puioa th whith it arlxs. these o￿trIbUtI¢m8 that Ettii I￿edt0<[¢rj¥¢ the eompanj'i balantt &kni l&ility. 18 CONNEcfED CHARITIBS U￿er a xdxme apwo?￿l by the Cknity on 16 Novemb￿ 21JJ), & tndowmut fuThd5 In thE d)trity known as Rithstcr Cathed￿1 Gran7MxrSdK￿￿1 wcrt retsined in djarity underthe new Dame'RoCh￿I ca￿aTrI Kiw.Sdiuol Endowment Trust. and th¢ non kn.ds transfeTred to Kings Rucknter. Th¢ Sdwol is tk trthstee of the Endowment Tru5L Th¢ terrns of th¢ SdtcJn¢ stipuhte thatthe properties aodinvestmentsiftthe EDdowmentTrugt are htld for tlbc ben¢&t oFKing'5 SdKM)l RodKster. Acc¥)r&"ngly, t)0 rc1￿ ig cknged.by t￿ &kdo*mtTrt Trust ty SdLO(>l whae the Schotsl to m•ifjtaiD and the *wts tsfthe FJ¢knw￿t Truxt. Kingls SehooL Rochester page 36 NOTIS TO THE FINANCIAL STAfEMIKfs Ix)R THE YFAR TrY4DED 31 AUGUST 2022 Utiiting Diredions haye been issud by the Ckntits Comnjission I￿0￿7￿g the L￿MbinatiO￿ of RThwJd¥l infvrTnation f￿. ' sknl knCh￿￿, Rthter Cadth KiAgB SdMJoI Ethdowmuit Trutt ('kCKsEf') aThd thc GtEdTrey Elarmsworth ch￿￿&bIt.frU$t. 19 RELATED PARTY TRANSACllONS . Jtsere *re Doiclated tr￿l%10A5 to dLsdose iti the (wrent or yriw ye4r Od￿ than tkn8c disdor£d In rntc 6. KIDg's School, Roehestér pag¢ 37 NOTES TO THE FIN.4NCJALSTAT£MENI3K)R THE YEAR ENDED 31 AUGUST 2022 . 20 sTAT&*￿￿r OF FJNANCIALAcfivITIFS FOR THE YEAR ENDED 31 AUGUST ￿1 Un-c4riL*d Eodowed Funds Total Fundi 2021 INCO.%IELNI> FNDOIVMENTS FROM.. Incom¢ froJTh dknritable act1￿7¢1¢8 School fttt rcttiyablt Other educatsoTral Other tradi￿ activiti¢9 - Rer>tand tDmmissioh recei￿￿￿ - Tradifjg Investmtnt income DonatioN grants Oth¢r income ,455,403 83.776 8,455.403 83,776 110.829 191,920 9.489 294.582 11,462 122,291 191,920 16.8WI 294,612 2,3WI 9.167.102 30 Total Incojne 9.147,299 19.803 EXPENDITURE OY: Costs ofraising funds Trading experthsu IAteregyyablo )30.463 J30.461 30 130,49J 330,493 ClwitableaLttYltt¢i - r.ducavon - PrefnixvJ - Welfare - Supprt tsf y41oobng - C3raTrts. award5 and pfr￿5 5,711.461 1.447,301 694,368 1.402.056 6,02Y 9,321.215 Y,651,708 5,771,461 1,465,663 694,368 1.402,056 20,419 9.353.%7 18.362 32,7S2 Totsl oxp¢nditure J2,752 9,684.460 Net (expendRturt)lincome before Invc.stfflent gains Nee invt¥tmertt galn¥ NEf MOI'R.KtKr IN FiINDS {5(K.409> 149.630 (354,7791 112.9491 78,407 6S.4.58 (S17,358J 228,037 (289.321) ReL'on¢iliatson <>f funds Ihund hatèna'l at I S¢ptembL'r 2020 FUND BAL4NCES AT 31 AUGusr 2021 11,743.488 6.Y2b 2,291.59.5 16D42,W3 I IA8&70Y 920 lJ57.053 l3,752,682