2023-08-31-accounts - King's School, Rochester

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King's School, Rochester Annual Report for the year ended 31 August 2023 Company Number.. 3791543 Registered Charity Number. 1084266

King15 SchooL Rochester page 4 King's School, Rochester Annual Report For the year ended 31 August 2023 Contents Pages Tntstees and AdTrisers Report of the Trustees 3-12 Report of the Auditors 13-15 Consolidated Statement of Financial Adii'ities 16 Balan sheets 17 Consolidated Cash Flniv Statement 18 Notes to the Financial Statcrnents 19-35 Company Number. 3791543 Regi8tered Charity Number: 1084266

Klng's SehooL Rochester page 2 TRusfEFS AND ADVISERS Potron The knTd BJsh()p of RuthfSter Cljairo 'I'he Very Rev'd Caiioii Dr P J Ile3keth, HJD, BD, AKC (Resigned 6 Deceinber 2022) Air Cdre. J D Ma%, CBP.. Msc {Apltea and Ihir from 6 DeL£mr 2V22) Vtice Choir The Verj Rev d Canon Dr PJ Ilosketh,4KC I)L (Dty Chair from G Decrmber 2022) Mr8 R.1 Olle). CEd (SiepFd 6Decembcr 2022) OFeTnoTS GoverDoTS Trustees Mr M J ChcstrrPield E4 Mr 11 A Ikll, BSC IHons>, CIMDIP, FCIAI {Re#grd31 Avpt 2W23) Rei'd M l Rushton. MA {Oxon), NIA (R¢1 i Y)ZJI The Rey'd Canon S Brewer 'i'hv Kei'd Canon C Dcnch The Rei d CAn()n Dr G Giles. Phl)l.Middx), MLitt (Cantsb), B.4 Hon8 ,Mrs R.4 OlleTr, CFA ,Mts P.11 C Stem'art, NISC, l.l.Nl, B5c (.4ppolnted 31 August 2022) ,Ilr.4 hlrli)w. Bsc Ilh])MarehMs1, RIBA SCA IApp4nted21 Miti.h20231 Ir M. E Smith, BA thp.FAI. (A5yMlcd 22_If¥L& 20231 Ch4TiT OrALths-Chr oJCoJDmittets lsth.&ttttr£¢S fvlimber#hlp olthe Board is deterrnlr under th¢ Artides of Asyxiation.'n]e Governor8 shall ¢YJnsurt of.. The Dean as an ex-olTicio GuveThor' four Canon8 Re8identiary' our Nominativo Governors ap1nted Ikan and Canons Rr¥identian and approi'ed by the Lhairtnats and Principal of King's Sch(M)l Roch&qer and Headmaster of the Senior sch1. Une NO118tive Coiernor to be apInted by the DicwaTh ofi.duution and ¥provedbv the ChairrnanATrd Principl of King's SL.hool Rothestrr and Headm&ter oFthe Senior SdK)oJ. ahd Up to eight Co-opt4tive Governor5. F.vw year one-fifth of the NomirJati¥e and C0-tative GoverDors retire from offliz. Retiring Gov¢rrK)rs aY b¢ re.appolThted. KEYMANAGFMENf PERSOYNEL Principal: Mr B P H Charl* BA (Honsh PGC4 univetieS of Eyeter and Durhatth Members of rhe Team Mr T H Morgan, BM$ (Hon%) RC.NI Mrs K Cro2er {Ed), Bed Hons Gre.enwidJ Miss D J Godwin, BA (HoThs). FCfvIA Mr D Farles Mrs K Simmons (nee Petts} CJPF.4 Headma8t£r of the Freparaton. Sch(M)I Headmistress of the Pre.prcparatorv Schwl uroar (resigned 3 January ?024) tThterim Bursar (APInted 2d January 2024} Director ofoperdii0tiS Registered Addre&8 Satis House, t). Hill R(knr, Kent hlEI ITE ADVISORS AudEtors HaystnaciDt¥re LLP 10 Queen Street Place tx>ndon, EC4R I.4G SvjiatOTS Narrow Quai. House. Narrow Qua Bristol BSI 4i2A InFe$tJJtretst.Vanog¢rs RuEftr, 80 N-ictoria Street, London, SII'JE ?JL Schrn)der6, 31 Creshatn Street, L)ndon EC21.' 7Q. James Hgmbro, 4b P311 Mall, L<)ndon SW Il. iJG National Westsninster BADk PLC 21 Hr, 3 Hlgh Street, Maidstone, Kent hlE14 IHJ

King's SchooL Rochester page 3 REPORT OF THE TRu%fEES The Trusttets wesen¢ their Annua rert and au&ted fJnanL1 stat¢Thents for the ye9r ended 31 Augugt 2023 whieh comply th the r4uirements ofthe Charitics Art 2011. Companies Art 2(. Artides ofA5so(xation and the Charities SORP {FRS102)- Seeona Edition. AIMS AND OBJECTIVFS King," khool Rochester {Kin¥8) 18 the oldest d1r sdMM)l and *eond oldest3dKM>l in the UK. h&sbeen unbroken educauon at King ? since the e8ts6h&hm¢ mona8tiCsdI in 604AD. The knl offer8an exceptional day andboarding education for 660 pupils aged 3 to 18. With a d]Stinthd Christian foundatson and strong links to RcEler Cathedral, King'5 provides a contempxary 21" (¢j]t4 kn]istic On in an inspiriTrg setting> developing all pupils, skills and irJtere6ts bei'ond the dassroom. Stratcgic Aims FUturew[Mg King g for a SUstaable Future Stewardsknp of the wcient foutL&tioD of sd11 Ly)mbined withour reSWJDsibi]ity towards the environment and planet. King 8 Ont Schrjol The ithole communit) {wpds, sta(f. parents, Governor¥ & aluTnni) wnrking together as one to bring us aoser together to (tltbrate dii'ersity and int1¢11t) of this wjiye platt. Ksng'6 as a Sehool for re Preparing the pupils for a liEe Nnd King's whi]st ensuring they rwain in tch once they have left. Strategies to Achitvc objectii'&s The oyerarching aim8 above Icad to the six key stran& of atrategy Set out helow which the SdM)ol'$ owttional plan: max1$1ng pupil ptential through exLrllentt in teadwigand Icarning: By 2026 the quality of ttaehing and learnirtgk SUPP)rted by ttrfidcntmiddle leadership, will be consistendy fxctllent. We will bc (x)nfident, creatii'e and etTioent in ttschin? and Idvning to a wknle selM)ol approad) whi¢h cncourascs innovation and knc8 prartitt through trw. We Mryll seek to c3tlb.h a broad and rounded aTIluM whithbeeftts all our pupil$ so tknt they are prepw for a globaiised future. A whole s¢knl apprnach to the -(rriauM Bv 2026 the Aiool's quality of c(Fcurricular Foiisii)n will be consjstently exptio. -e will cstablish a IxFcurrieular FroaMMe that is cdmyent and deJy)onstrat¢s a with the A01,8 ethos, wrricu]um and tdurdtsonal 8. Pupil and ststywellbeing in a f&8tknwg world By 2026 a thdture for wpik aFLd btoff will Iwye Ixen LTCated in wknrh the bala]KX tWeen'wOrk hard> ptsy hard and look aftcr each other, h&q been firn)ly estsbliqhed. A Ortised progamni¢ of knlding, refurbiFhtnent of faalitiej and fhnanoal infrartructure Bv 20?6 we will hai'e further improved tsur teathng and co-curriuLlar environment and (yeated outstan&ng new facilities. We will have in a medium to long.ter¥Ji wwamnic ofph&%d development caxdully prioriti8td tu allow the School to an outstsnding educationaj ai all Sta.

Kingls School, Rochester page 4 A fully integated approach to wk¢ting aihd admissii By 2026 a fully intcgratcd ap02& to admi&ion8 and marketing will have tnabl¢d us lo intrease our markel skne oFprospective frtiics and to make our re(TuitsDentinto Nurwy? Pre-Prep, Prep and Senior sch1$ robust and beLure. A dan11C Proamme of Outreach and Parts)etsknp By 2026 we will have fu]l) develOd the sdK>ol's approach to outreath and tmrtsierships With local maintsined 3ector sch(M)Is, Yt up a Devdopment nR, refrethed our progatnme orevents for alumni and donorsy grown our alumni database, and %ucctssfullv launched a long term fthi&aiaing campaign dtsigned to w>and tTrur ovision of m&vu-re%ted support. Charitable Obje£ts The objeLts S&ool, & set out the Metnnrandum oFA&wation, are the provision atxd claU of a &y school for l¥>ys and girls aged 3.18 and the provisi{ of Ix>arding fa(ilities lor knys and girls Agcd 11-18. In ettg objeclives th¢ Gov¢rnorb have given ul consideration to Clwity C{)mMl08, general gud4nce (Jn public knefit. Principal Activities of the Year The provides and condutts a day 3cknI for and yr]s aged 3-18 and the wowi5ii)n of Ix)arding fa'tieS for bovB andgrlsged 11-18. Grnnt-making Policy The value vf ¥LlJuknr8kn'p8. exknblticS. bur8arics and othtr aThar& totalled £1,527,347 in ycar, 12.53Q¢O of goqs fee inrome. 'fht policy is to make awar& un the basiq of an individual s eduL'ati(w)d p)tenii& or to rdieve hardskn'p whore the pupd's education and future wpetts would othWI%e at risk. Ih"s year tho va]ve of prizes made t(> the SthiKhl's pupiI¥ out ol reEtricted fuTrd8 hold by Ro&ster catdra1 King's &knl End0tIent TrLL%¢, &dfrcY Harmsworth Trust, Lord Chadlington and Henry Oldfield funds amountcd to £147,748. The wi]iLv for diqtribution follows the conditions imposttd by the orig'nal don()r. Full detsils of the awar& are blIshed wbnually in a knkie¢'sd1arShlpS and Bursarieq" Designatecl Trund¥ Bur59ry Fund sct up 8cvera years ago., the inconke umbnues ts> be reinvested it reached sutricient sil£ to m&e a worthwhile contribution to bursaries For pupilB. Detai]s of the aboye Funds are U)ntx1n in Noie 15 to the FinanLa Statements. volunle.erts There are two tELriving parental owating.. Th Frien& of Kings Sd1 and Th¢ Pre.Prep Supprters, Group who lid_raiSe For the SdM)ol. The Covernor5 would like to ta opwtunity to tnuch itappreciates their thntinuing 2nd valuable sUPrt For tho S&ml's work. Public Benefit In r$anCe of the knl'8 long-held objective in o(Fering public beneEt to the commuJ)ity, to ensure CD¥npliance with recent legslation, an AntLual Public Benefit ee is undertaken internall). Set outbelow 15 a summarv of the public benefit actions undertaken by the kkntsl..

Bursaries and Scholarships. Our primarv pjrpjse is wovision drational BerCeS to young pcople aged 3 to 18. drawn from a wmle (TOSS Scction of th¢ wblic & ]x)5sible. The Schwl wel(x)mes pupi]y frotn all backpunds and ac(tss to the cthK?tion o(Yered 13 not restrirted b) kn that cawk afford the feu. Th SC1 offer5 a tange of 8&olbiPS (x)me a standard fee remi8sion and additiona further meattE 1¢5ted aSIstance where rcquired. These include Acadernic, -Uuqic, Drama, Art and Sports scholarskn'p3 available to cxt¢rnal candidates. The Sch1 was Foud to oETer knth'Chidlingt(xJ Sthlarships, and bursarial supported placrs for knnian pupils under the 'HMC ProJ¢(ts in CeThtr&l and Eastern Europe, ¥¢ar, thaJ)ks to Lord Chadlington and b) Mr Oldfjeld. Thse placr5 cover l(XP/o of fees Ind for a tota] of six puw'ls from loca] maintained 8&0018 and the Uknaine. The.knl promote¥ its means tC3ted 5tholar5kn.ps and bUrsleS to pupils from the maintained ¢tOr through vari are drawn from v(x2lly and musica]h' able boys and wl3 from a lde

King's SchooL Rochester page 5 LTosa $ectioTh of the community. All of Catl&al Cknristers are pup'13 of the School (except for Some of d older grls) and sing for the public in services and concut5 An the cathedral. The School yowdes f)nanci31 asslstance W. w21 of a fee rerniEsion to Chori<ttrs attendiryg & knl with sorne receiving further Pthanaal assistance through MeaThS-teSd burwi¢5.

Schools Together Partneryhip Artivities. The Sd[ has tstabliknd a number of lith with IL maintained Schools, and has offered pupi15 from &verse ba(ground5 and teathrs the opportunity to work together in joint activities a% PHSE, Lat]n. So'ence, German, Ath]etic8, Politics, Drama arLd INSET evujts, acti&itie3 and w'orksknF, manv inyolsing visitiTbg and peakers. The Drama Department pruyidcl OPWtunitie& for a li1 drnlg, LX)nEortium of Drama tcachers, Focusing on GCSE & A Level Drama, bkwing Practi and modwating drama coursework. Pupds from fi>e lod 6tstr 4clKKblsbr(Hdentd tIr eXen¢t of thc by wats&ing live theatre, attending perfL¥mances of PrePaTht knl and thc SeDior SthM)I. The Politi(s deptment 2Dd DJA up a]1 cvents ts) la stA 8diools (they are mo$dy Zoom trdlls). The inThitation kn atso been cxtended to sonlc dewived scknls Kn HthFor&thirc. SFAker3 arc fvrmer Cabinet mmistsrs, Lrt MPS and leading a(3demi. The music dewlment ptnerS with Pr]rn thls to deliier wk0P. to develnp the vod and rhythmic skills of tFKir pupits. King s Sth(x)l Rrthesier Th-ork Niith 150 pupils ]n tr)tal from year& 4 ts) 6. The aim 1$ to IDcrease their enjovrnent of music and algo to raisc their aMarcn¢s5 of plaAng instruments su& as the darinet, 5&xophone, piano and trumpet. A small goup of King's Senior Sth(x)I pupi]s have been traind to deb'ver ThOlIbOd) WCUbsion/rhythm Worksho and to teath son. Our music dcpartsllent puts on a nwnber OFrror)aEf8 whi& are ow to Men1[5 of the public, free or charge, PerFon by pupils of thc &(>ol. il'e arc al&) d¢b'Trwing Music Outreadi ProwDie to twoi primary scknols, vi&ititLg eath one fortnightly ¢(> cncoura inyolvefflent th.lg.g and uptake ofIn InsMents. The Games Dtp¥ttnent hosts Rugbv FtivaL4 for puplls fvom local priTnarY th015 wuyiaing coaching fro $cLaIl SporLb teacher$ tsn n¥b)' ski]lts and faoh"tating an afternoon nf tnatchts-. Pupils were introduced to eyrienLryng the basicb of'fag Rugby and able to practice their skill8 during the [natdg. arnIng suPrt Prrae. I"he Ltarning SupiKrt Dcpartment Lwdinates supi)tsrt for Viith Edtscativi) itxd Disdbikntie8 {,SEND) and En¥ligh as an.4dditivna] Langiag.e iE.4L)- With rcgard to the.4END C(yJe of PiaciiL¥ 2015 and the Equg1it)".4ct 2010, thc Departrnent Ivor. to ensure tknt pupls, Itarnitsg support are idrntified and mei and tkt, i%hcre ne(rSbarj? rea6onable adjii<tn)¢nts are put itk p]att. Considering the slatemcnt that every teacher is tethdr uf spcLial eduotional Deed3' (SEND C'ode OF Prac11 2015). the Department pruvLdcb support and guidance tr) 8cr()ss ihe scknl to ciiqure that pupils, [S %upported in t1 L1¥kOnrn. It. also provides one-to.on¢ and small {K1p:Port 5cssiI)ns tsutsidr cEssrKHll, tailored"ture a ioinrd-up apwoad). King's Sckool Prcmises. The S(IKK)l rnns and maintains a former (xwnal owned centre wlu.ch i currently used by the Ioc41 comrntinityj inclu¢h"ng maintaind seLtor 5dJ(x)13. The King's Rhester Srts Centre wo*ide8 subsidised acccss to high spwting exer(i5e fa(iliti to th¢ lod cY)mmwiity. Many I(al sporLR 0p8 the indoor and vutdwr tacilities at (Y)mTnunity rates, along with a car&'o rehab group. The Swimming P(K)l is used bv three prinwy enabling pupi15 From YeArs 4,5 and 6 to ve regr swimrning lesso and khool 3tsff volunteer to tcatkn £roup %wimn)ing lessons, Swimming du and lifesaying cour8e8 to the public. T} is aJg0 used for fre¢ by a St y)umber oftsdet goup3 yior to their

Kingls SchooL Rochester page 6 ummtr St0 otoutdoor ter training. Th"5 is so cet traiDing teams can ¥it11 test all Ladets ODd train them in w'ater elY 5kn115. Nve kn-t 5M'imming ga]as for 8dJ]S giiing &l&en the and oPrtnitY to race in a ComtItive environn]ent. Via a partnership Kryth a l(d whool, the p)ol and a leaching room ts used bv thc Grcenaue S[($ Partnerslu'p t deliver a Swim England Tea&ry C(Mwse. kn enablc8 12 te4dws Crom a)¥ Medway to learn knw to lea SI[n[ltIg to thtir pupils. The Chadlington HcJts5e srts 1ts114nd its (Ti(&et nets ve been wed regu]arl¥ througknut non-playing e8yurL by lo(21 wicket dubs. The SdKwl'8 playing Field* have been used pro kno thls, %c&ool aged pupils from a local rugbv club as part of a collaborativc arrangement and also by LTi&et dubs and the'l'A.

King'5 School Pupil Charitabfte Gii'ing. Eath oFthe thrtt Sd018 nominate a dwitv each year that M'orks in the loLal area, some vf the Lvwrr si.xtli orgdnhse fundraIngeyents tkni>ugknut the year to raise to support the work OF the nofflinatrd ckniiy. Additionalli. there aLY)-ordinated wknle thl caTrpaign during 2022- 2023. All are 8upervi8ed by MeME ofKing'$ knl tr. E&h ofthe three departments of SdM)ol org}a regul events to raise mone), for ]r thsen dwities ch year. In 2022123 the Lkntics wue.. Pre.PrepaTatory Sd]ool Preparatory School Senior Sthol wknle Cool Earth EVela HoTice, Oxfam, House & JDFR UK Diabetr8 Cobbes Meadow Rid knl lor the Disabled Medway AfrirJrk & Carikn AcIation Sport. By competing in regular BrL$ rlrrS for knth 3nd yrE' ynst state and independent %d(x)Is, K,¥ p11$ are ititepta in Iival sLrne, ¢ncnUra a [alaritY King's and gcneralli. )ntribute to the 3U(w¥ oFwnmunity events. Worship. The klK)ol aLlivdy Promot the Christian faith and prinaples (with %tudY of RS to CCSE for all pupils) with cathedral str(S open to meMr8 of the public. Th kknl a150 VI)Tnote: equality and tntegrttion. The. Cathedral Choristers. Thc ha5 providtd tnusi(xl outr and 0du a nllmber of COllLrrts and Services that are held in the Cathe&al and are made available at no dwge to the comtnunitv. 5choul iyorks clo3ely the Cathedral on nwnerwsjoint events, dfering cultural, musxcal and witual oPrtunItie8. Teacher Traini. King's dTers pla(ments to trainee tth from Canterburv Christ Chur& University. Our Director of Digital t£arning has alÈo Uyidea sUPWt and training for c.omputer SL7eTr( teathers at maintabd s(knls asyoss the ntributes to devdowg the e(Dnomy o(the I] communitv. King's 13 taking a lead role in the Medway Edutation Partherslup. Wc are (X>Tnniitttd to strengd)ening the effe£¢iveness of the 8chool system in.Medwa)' and fa(?litating a 3CCtor led system that enables every thld to rv41ise their full potentia]. The relationship betwe£n thls, xdemy tru3ts, sdb(K>l leaders, assoLiations (MELA, MSHAI, and the lo(xl authority.. worlang a]0nlat t Rerynal &th(K)Is Commissioner and teadll'ng schools, are key to 'achieving more togetlw, with Lx).pr(AuctiOn SUPFVrting the outcomes we seek. As part of the Seni¢br,School prwaTnme. every FTiday afternoon pupi]s & volunteer work with I([ eharities and primary schools.

King's SehooL Rochester page 7

Economic Impact and Sal'l5 to the. Public Purse. king's sdMy)I currently educates 680 thldren relie&it)g presNur¢ on local btate 5dKK>ts and no claini on th¢ State for the subsidy provided for tath pla(¥ at a maintainea hool (rhe Sthool does not reclaim an) IIAT OTh 118 Prde of supplies and 5ervires). The Sthool emplojs oier 240 0P]C locally at al of tmplo)Th¢nt and the khool also buy as many of our and sery15 I1} poqsible o)ntributing further si@&cant Fi impact in&dy. Fundraising Api)roach and Pe.rformance Throughout the Year the S&ool community dbtaffp pup]s and parents urxdutake tharity fundM'sing adiviti¢& in¢lu&'ng quiz night$, d03sr(K>m LY)mtitiOnS, SP)rt evcnts, OP mic nights and other fundraising events with supporter thntact in line with the Fundraising Code of Pra(tiit set by Fvndrajsing Rylator. Our fundraising promise is: ',%en J'ou supprtj'ou con k Jur£ oJth Jollowit)g.' Fl'e T1] onlk contartjou ifyou hay¢ expr£ ITn intwe in our R'ork.- JRE phonc VOLI, we will chfAyGU 4]rÉ httppy to tske the call,. l J'ou osk us to chonp how ¢ cornmufticate lthyoU. or #OPP wc will rw thot,. Fvc do Trot ÉJJs0gE IJ) zdling, do(pr to dooT or#redJtJDdTalnS,. 'e tr. fittid to ensuT£ DO oJJ¢ ¢yerfeAJs preswri5ed to svpprt our tffOTk.. and All our ortivJ¢lÈs ore ow. Jdir, hon¢rt legd. We hai'e robust policies in place wkn dealing WLth tIVable wple and do not put any pressure our donors. We d not us Pro[e10nal hdraIser8. No complaints al)out fundraising aLtAvity were received in & year. OI'¢Tail fundraising performance duri the )Thr £7,71X) Scnior Sthwl .. Cobhes Meaknw Riding SdKK>I for thE Disabled. £1,569 Whole School Charitv-- McdwaTh Afriw & Caribl)e4n Association £ 340 Prcp Charity {Evtlina Hospi) £ 933 Prcp Ckniv (Oxfam) £ 866 Prep Charicy (Open Housc) £ 159 Prep Lhwity UDFR UK Dikns) £1,263 pre-eParatOrY CharktJ- c] Group Structure and Relationships Uniting Direcuons h&ve issued bv Lhan"ties Comsnission Jlow the Lx>mkn"tJation of finanaal infDrmation for King s Sd)(x)l Rocheyter. R0dter Cathcdra King's SdKboI EndowtTrent TrugL ('RCK5E'f') ond the Geoffrey Harmsworth Ckntable Trust. -.R¢Stepcthear8l kin&s.Sc4ool&ndowmeJLLTtusLisu1tyEt£lLty. wknge inwme is used to fund p_rizes. A subgidiary &rity was etstablish itl 21x19 in th¢ name of an Old RaffeLan who died during that year. 'lfv CeotTrey Harmqworth CEwitable Trust proyides linan(ial wpEK>rt to knill suffering hardship. Rofrya Limited i8 a8ubsidiarJ comwy wknse aLliYitiesare detailed in theA¢rountsat Note4. whtte aN)]icable £0MY transferr taxable wofit* bi. Grft Aid to thc SLknol.

Klngls Schoo4 Rochester page 8 STRATEGIC REPORT REVIEW OF ACHIEVKMFNtS ND PERFORMATriCE H)R THE YEAR Opr.rntional Performance of the School A Level examinatlOD pr(Auced antsr eXCellt v¢•r of results. The overall rate was 98.47010 with 25.8Q/y obtaining A•_B results. 52.7a/o of GCSE grades were at 9-7 and oyer 539,0 of a)hort g3)ng at le&%t half ot grades at 9-7. 'fhe prinaple destination for leavers has again ¢n universitses. Concerts fLXtitr&%, y(Aurtions, Ilbils outdoor pursuils have all taken place during year, enhanLing the experieT£ of i)ur 76. A prwamme o14uper-Lvrricular actiTritics has kc deVeloa to cornplement the SdK>oI': tt&4Jing and learning. The .knl's ¢otnTnitment to diyersity kns allo made signrfitant prwtsy via Diversit). and Indugion Allian enhan5 the Sd1,5 Pastor care and safeguarding resi)utLoI, allow pupds to experience a range of academiL, sporting, rnusical and dramatic subjects. 'IIK rxcrl1tn and breadth of the curricdum wa5 eide.ced in the last ISI ITr10 in juarY 2020 where all areL4 of& TdxTrol tr¢ judged to 'EX1¢t,. The scknl achieTrcd out9tanthg I l+ aMn7&r entry results ond tk usc of InC.ASand MidYIS datafrom on.]¢ testsxrvi(xd by CEM atthe Universi¢y of Durham Centre lOw5 for dose monhtoring of p.] rfOrnIare, ensuritig tknt P]IS, aspirations exceed their knline. Pupil nUMr$ reflect the exl, including Nurseryy rontinuu to offer an exutingaThd varied urIcUlu1n throughout the thol. Ths means pupi13 enjoy a huge range of OPrtunIty£S and art able to kne wherever their interests lie. They wienct a range of subjects. includ]"ng Music, Sy)rt and Gerrnan well as ct¥e leanjing right from thc start. The s(&nol trackn pupils using assessments produced and atlta by CEM at the Universjty of Durkn Centre. In Nursery. ASPECTS is used to show hnw each chdd has prowssed during their tiJne in the setting. In ReLtption, BASE is ud to benthark our cknldren, rFiwmance %aiThst averages and demorL%trates the pro?ress that eakn cknld made duriy)g the year. Year l - use InCAS data which tracks PilE, rFOr1Ct vear on Year and prnvides agc-stankndised and ¥e.equiTral¢nt scores each year enjuring progres¥ is madc. Ballet, ABIL8M music and LAMDA exams Iravt tsken place with pleasing rtsult?. tSI In3CtIOn In our last ISI Jnspectinn in January 2020, King's R0dter w48 fnd to .x(rIlent all 8reas° acrtsys the SchoDI. King's Nursery, Pre-Preparatory SdKK)l. Prep¥atory SdMK>I and Senior &knl were SLTulinised for thr quality of their work with pupi]s, academie eVeInent and personal dtvelowent and well-kng and findings itb every beetAon were rJrst-d4S¥. FINANCIAL REVIEW AND ULTs FI)R THE YEAR The GoYernor3 rep)rttlMt, the cor)*ided activitics of SdKXbl had a $PIOr£3,33obef0re investmentrevaluations in 12 months to 31 Aust 2023 (20)): surplu5 £617,379) th- Pigure inaudes £106.366 of per]nan¢nt tndowrynent legag donations have been added to th¢ endowment futxd knng the ytar. In(vme in(Te45ed by 6.7YD and 6xpenditure incrtssed by 10.2Q/o. InvestMt in marketing, athi?giims and deyelopment wa& prioritised and impro¥emtht8 to the SclK)ol's buildi hbric and compier faab.ties ltInUed to be a primary I(5 during the year. Roffa Ltd's trath'ng performantt dur yw deteriDrat¢d tlx previous yGqr due to slightly reduced Turnover. Future Plans The Stratryic Business Plan For 2022-2026 was reviewed, updated approved by Governors in previous fuwicial year. Under the leaderskn'p OF the Chair Df Govunors. the strate&Y i8 due to be reviewed to develop a new stratego Vision for the next S yews. Current key 0ratiOna planE are: l. To identsfy the Lwriajlurn nee& of all our p)Is. 2. To implement 8 wknle School approa& to Dital strate indu&'ng the further develowentoFGwglt Clawoom. 3. To enhanct ollr provision for cterS atr05S whole s(knl. 4. To deyelop a wwmTne of thle 8cFM)ol c0-LrI<1ar eytnts to the 'King'g 45 One Sd)1, model.

Kingls SchooL Rochester pagc 9 5. To dNelop a programtne of 8uper-utrnaJlar acti¢8 to Lxxnplement the schwl'$ tead)>ng awbd learningi 6. To introduce a aaMiC programme orelIbe}ng development. 7. To incre&ie the range of leader.hip OPrtunitieS for pupils. To pt sdieme8 of Iiork to r¢flect our respnsibiknti for diYe¥sity. inch10 and su8taKnabi]ity; 9. To ensure that buildi projcLts are line with the sthool's conimitsnent to ¥u8tsirtabs1ity? AO. To deielnp a (x)herent plan for partnership¥ with lo<1 mnI]ned a(pDIs' I l. To ensure the data a&ble in the Dekelopment oifiLE proiidL a fwni loundatioll for future alurnt]i relatio gnd fUndrsIng aspiration8' 12. To tialuatc the transfomutiNe eyrience protsided by the KSR bjrsary wwme" 13. To introduce an Arts Fostival of our outreath proryme. and 14. To incTeW King's regod and national yof)le. Acknowledgement The Goicmors to expres5 their appreaation to Prinapal, Hea& of eath sd1, teadrS all khool staff For their lo)'alty and contiJLuing Iwd work and SUP[. Reserves Policy Tk Group tota] rcstrie4 af £14,511,562. thtse include Endowed Fun& of £2,847.220. Re5trictcd Funds of £18,157 and UDrestrLCted Funds of £1 1,&kn,185. The Rescrves Policy of the Scknl ha8 ert ba8£d on the kknl'f objectives. Its main features are.. a) 'fn &hieYe a mgrw of workll¥ capital èuifLcient to enable all a8Tds the S(knl's work to be ()nallcted in aD orderly nd dTAci£nt manner and to '1th the rnyement ofthe khool'$ buildin mainietwlr Proe. and b) To provide regources to fund thc School to provide cover for unt%t or unavoidable itemg oif expenditure. In order to rnett tht (Titeria iti (a) and Its) abovc, the Goyernors con¥ider thatdmIn1Mutn targctrd level oEreserves desired is follow:: Working capitsl of £l.8in, tTho rnonths, expenditure. Thi5 should be represented by ]iquxd re50urirs. When certain a&%ets tot•lling £9.8m are dductrd fr unregtrictd fwids this giv¢% rise to frec r¢Eervts of £1.8m. The p¢)licy is therefore ts) tnaintain building up restr¥ of annual 0ting surplu8ts a¢ the Lwrrent level ol two months exwditure, subject to the prior dtmaJJds of further opital expcndkture tu e4uii) the SdK)ol with the up-to-dtlt fa1¢ needed ¢0 maintain the stan&d ofeducatii>na serYLces current] j Sch1,8 Bursarv Fund which currentli statLi% at £1,344.110 (Desiatra Fund> was estsblished iyith the objective of gcneratiDg inycqtmtnt sno)me to suppurt the fan)ilit8 Ot existsDg p115 suITtriDg finan(ial hardship and to I's priw investmtJJt Ruffer took a cautiou8 inveslment strategc position during the year gven dar view on the worldwide economv and political unc£rt4iniv in Uk. Their inYe5tnient approach is long temi and their gtrategy 13 to hold a de range of mvstl} conventional •ts. AcLual niarket wfornianct on returns werc in IiDe with relevant market in&ces. In)estment loss¢% were inCUJTed during the vear amount due to niarket Ivforniancc. Risk Management King's Sclwal Board of Govcrnors is reSp31ble for tk manaweDt of the risks fad by the SdKxII and to ¢n5ure adequatc Ixjntrols are in pla(r to identifv. aess and mitsgate %ait)st ris.. Dctsiled LnSideratin$ ofrisk are deltted to th¢ FiIiance and Estaie5 Sub-Commi¢tce, a55iard. Risks gre identsfied, a38cgga and LntrOlS c8tablL8hed throughout thc year. A Ivrma] relie% of kn1'8 rith TJianagemeDt e&eS i¥ undertakrn on an annual

King's School, Rochester page 10 T]ie tnèjor potential risks i(lentified are ad&e53ed by Goyernor wb-committee mcctL])y. During year the?¢ risk8 are di8cus8cd in detail and monitoredfor action new. Eadh 8ub-cx)mmittec rCrts itl dctail to the GoverningBody. The Gov¢rnor$ consider the m&jor p)Lential rAsks to the knl are.. 'rhreats due to ehanges in liti diTnate regarding Independent sdls and irnpact of any new Government mAndates invulving dtsnges For Independent &4))] sector such the Mnposition of VAT on scknol fees (extrd to bt 2(P/o). remoyal ot ail charitable tsx reliefs and removal of rat¢6 Iharitable relief.,

chICngCS of thc cwrent cconomic 3ituation, indudiThg higher inflation and interest ratc&. pre5surc on salaries, parents faang cost prtssurts whett considering fees. AIFordabilitV ISueS For parents which affeLt PUPA] nukn, fee and expense Icvels and water pregsure on bur>ary/hardship funds; Further inLTeases to pension ¢x)ntributionrates andd]anp to dcfJalrepa)ryntnts, ottg clanges of provision; Competition from btsth indeFndent and state 8cIKKhls for pupil.. Safewarding and Inspections in an in(Teasingly reettlat environment. Risk management of Data Protection and Lyrse(rity. and Risk management of Health and kfety. Th¢ key contro]5 used by to mitigate ri3kn include: Compreknsive strategc pknning, ldgeting, I"orc(x8ting aThd myement accounting. Formal enda$ for all Committee atta knrd activity to ensure 911 Governors and SMT are fully awarc of and con?ider the risk8 ry]arly- Risk Reg8ter identsfies all ri8kn.. A newly fortned Audit & Ri& Committee to rcguiarly rtview risks and mitigatsng Stratee5 then report to Governing &Ayp nario planning to wovide a 5tries of CoMtitive comn]erLial c()%t structures, model the impart of redtsd pupil J]umbeTS, as a nqUen£t ofptrceived risks atkd eaor wide TcherS, Pension thme rcvitwa rcgdarly) Curriculum Review tstsderwayT Health & Satety cvmrnittee to Lx)n$ider current ri5kn. Lnvestment in the ythool's mAeting and (X)mmunitionS function5 to SUPWt pupil rtuuitment; Established organisational structure and lines of reporti. Updating of formal written plicitt and atLnuai adherenLY monitoritig os ¥propriate' Clear autknrisativn and aP0v leytls: Burstry PO]1 & Debtors Po]icy JD place. GDPR complignt and constsnt itiYC5tJnent in rr resources" Saf¢r recTuith)ent as required by for the protecDon OF1 vulnerablt. and wdi tra2ned desiwated StT, rolw5t SryStems, whole knl statT training on Chdd Protection and Safeguarding. Through the ribk managetnent (esSeS estab]ithed bv the Sth(K>l. King's &Awol Rochester Covernors are satisfied that the ajor risks have been idtntified and adequately mitigated ner¢wli. It is recowsed tknt systems can onlv prowde Twonable but not absolute srate that mw knve been dequat¢ly mana STATUS AND ADMINisfRATION The origin of tk knl dates Imck to tk Foun&tion of a monastery b). St Jtsstuq in 60 AD. King'8 School emerged aB a di&tinct entity in 1542 Henry Vlll th'swlved the Motwteri amd re.founded the Cathedral Grammar School. The Foundation h&% been amended during 8ubBequtht years. liobi]i¢v of tnetnknE 14 Latnited by Guarantee. Detai18 of the Cknitv s Governors and eXeLtive officers are ltsted on page ? The Charity s ad&e35es and PticL18 of the Charity'¥ Professional 2dvisors are &ven on page 2.

King'8 School, Ro¢hester page 11 STRUcruR GOVERNANCE AND hlANAGLMINT Go>erDing Documr.nt The Chariry 13 governed by its Meniorandum and £3 of AsxKiation, tea0 I l O(tober 2(XM) as ameDdedby Speaai Resolution on 9 NoveJnber 2013. Appointment and reAPintMent of Governor5 The Scheme approled b) the Ch&ity CIKtuniysion prOatS for a maximum of 18 Trustees are Governors of the School, one-ftfth of the Nominative and Co-optatiye co¥exnS retire c4& year. The GoTrernors would like to take this opwtutxity to thank Mr B A Bell (who reswed in A¥st 20231, Rei.'d M J Rushton (who resigned Marth 2023} and Mr M G Sttosv4ell (who res1cd in August 2022) for t]r hard work, dtdicatson and support. Recruitment and Training ofGovernors 'IIL¢ Charity'¥ electcd Governor5 arc apwted at the Fjrst ordinari Meeting of thc Goiernor8 following &ir nomination or 01-rJption and a visit to the Sch(x)l. Pros(.e GoTrern(y£ are supplied with a ptk OE inforniatson a5 recommended by AGBIS IA8iociatiott of Go¥erning Both"es OF kndependent 40]s). This includes AGBIS Guideline3 For Governors, the Charitv COnnil0 CC3 "Rew5ibiiitits of Charity'frustee5", the khool's Ariidcs ol, Assoaation, key School Policies, dateo of uwming Govrxnor5 Meetsiig8 and Comrnittees and a niap of the Governors are gyen ac£ess to a shared GoN'ernor drive Mith kei strat¥"c docuii)enL4 and minutes of wei0uS Governors Me¢tsngs Conirt)Itte¢s. Durin8 their Rrst)'ear, andannuallv thereafter, Go¥erDor< areinvited to attend courses sp)nsoredbyAGBIS and others. In ad&'tion, ad hoc strategic pianwng S¢AfjiOnS are Wd appropriaie. as 1 annual s¢dIng training. Organiyational man¢1C¢ The Gvvtrnor3, as trustees ol the Cknitv, Are legally re&wJLqible for the over1 management ana a)ntrol of sa1, meet at I.t Four time3 a vcar. Five Committees, a Lthwred bi a Govctnor seric to review monitor and adiqse the GnTrerning Body on their r¢swtive strands ofw'ork. The Finance and Gentral Puryoses Committee, Chra by Mr Paul Coen meets f(r tsme8 w lear and Iw- reSnsibIlitY to rc(x>mrnena tk budget, prioriti5e budgcts for proposed future undertakings and Plnalise the au&'ted aco)unts and afttjual reF}rt for apyoYa] by the BDard. The Fstates SuKCq)mmitt¢e OF thc Finance and General Purpuses Committee is d)rea b% .Mr Markhgni ChegteFFitld and nieet8 four timcs a y tsi devdop and monitor turrent estatts yojects and oversee the knildingsj grouThds, vehiclu and plant. aThd ensurc compliance ith alth and 4fet)'. The Education and Pastoral Committec d7rd bi Can(bt) C Den& mrtts terly. it reviewg edulztiunal mattcr8 and Inspe.ction fin&ng The Audit and Risk Committcej dwred by Dr Andrew Gower meets termlv to advise, and 4trutiD18e, in relation to Fmancial controb and ststutory obligations uJclu&'ng safeguarding., equmlity and diversitl'> and hcalth and safety. The C.hairsof eathcornmittee form Thc Governance? Nominations and Strateg) Committeei which m¢et8 four ¥ )'car and is d]aird bs the Clw"r of Go¥crnors and is re4]x)nsible for thc stratcwc direciion of the Stknol and oversccing Goi'ernan(r. 'Ik Icmit of eath of Committets kn been drawn up 2nd agrttd by the Goserning Each ofthe Committec3 reyts in detail to Guverning Body. The dav trj ru]]ng of the sd01 during 2022-2023 was dd%ata t(> Senior Managemen¢ rjf Sthool, details of wljich are li8ta on ge 2. Senif)r Managiment memr3 attend meetings Oft Governing Body and the Sukcommitltts. -Ke,y"MBnageme.nt.Pa)" Poliey- - -_"_---" Managem¢ntp4v po]w is dctcrmind in conjunLtion with Governor¥, Prirnapaland Bursar and takes into aecountcurrent market demand for pupjls ir) the kh],$ catchment arcas. the finanual wforniance rjf School, the econoniic outlwk and the 'goiybg rate of remuneradon. for scnior nianagcment rcmtsnerauon in iK)th tkn State 8ector attd the ind¢peJ)dent gchool's market its thc 80uth t of England. The key managtm¢nt roles are detsi1 6 ofthe aCrtts. EmplovmeDt Polic). The school is an cqua] oprlf11tLeA empl()ycr and wtii.dy troUrage8 opptscations froni suitably qualiPied eligible cw)didateR rewdless oFsex. . ethDi¢orign, scxual oricntati<>n. IKh'ef, r¢ligots, dimbilityor mernberthip of a wde&8ionaL or trad¢ union. Consultstion w'ith cmplo¥ees, or their rcyesentatii'tts. kn ¢f)ntinucd at lescLs with the aim of taknng the vitws of employees into aLWUnt when deLisioDs are rnade that are likclv affect their intcr¢5ts. Employtes are e awarc of the rinancial and economic wlormance of the knl. Communiutivn with en]plo)'ees conlinuL% through nor1 managem¢nl dne1& in a variety of Forms and a130 through cx<xptionai to ap8 staff of Liwrent iÈsue8.

King's School, Rochester page 12 state.ment ()fTru¥tee5' Rr81)onsibilities The Trustee) (wha arc iilso ihe direciory fur the company) .¢ rebponsiblt for preparing annual rewt and the ¢ancI statements in accorda]icc willi applic4ible Ittw cind LIK GAAP. Cunipany law requires the'I'i'ustees to i)I'ei)are finciiicial biatements lor eacli lina]Icial yC%)r. Uiider ihai law the'l'rustets1114 ve elected to prepe the linancial statements in ¢iccordance wilh United Kingdoni Generally Acceptcd ALfOUnting Practi Iunitcd Kingdum Accountsng Standards and applicable law). Un(ler Lornpany law the'l-l'ustees niu5t not &ppF(Ive tlie linanaal 8liltementb unless ility ttre sati11ed that they .£ive a true and fair vi¥w of the state of a(tair$ ol the company and die Group 4Dd of the income a21d expendiiure ol. the Group lor that i)eriocl. In prcparing these financial stateinents. the Trustees are required to.. clect qLiit%)blc accouniing poliLies and tlieii ai?plv tjiein ivnii¥lo'nilyy observe the niethudb and prinaples af thc Cl)c1ritie% SORP ISt3tetnent of Recommended Practtcel,. make judgeinents and esiimaiets that are reasonable and i)rudent; stE)tc ivl)ether cipplicable acLX)Unting standards h7Ve been lollowed, bubject to at)y Inaterial deytures disclosed and explained in the financial statenient8', and

prepclre the Finanaai statenients the goin4 Loncern basis unless it is inappr¢>priate to presume tliat the Group and company will continue in busine. Tlie TrubLees are re¥pun5ible lor keeping adequate accounting reLords that are su[rient to show and explain tl)e company and Groui)'s iransactions and dtscltsse with reasonable %iccuf%)ey ai any time die financial position ol'ilie Lompany and GFOUP and enable them to ensiire thai the financial 5tatemeiits conii)ly wilh thL Companies Act 2006. Tl)ey are aso respoiibiblL I'ur salearding tlie assets ol. tl)c compiE ny ttnd Group and lietice for Likn'ng rLasunable steps lor tlie prevention and detection of rraud and other ]rrelaritie£. &) ()r as each o( the Trustees 15 aware at the tsme the report 15 approved.. there is no relevant audit inform%ltion ol'which the compiiiy's auditors are unaware- and the Truqteeb have taken (ill Steps that they ougl)t to hicve ittken to niake themselves ttWe ol any relevant au&t information )nd tu establish tkt the auditors are aWre of that information. Tkn's reporl, wknch incoi'porates the Strategie Report, was approved by the Btsttrd ul. Govert)ors on signL' eir be 121.o'.4.. 2024 and Jvkn aa An&ew Cower Ristered Office Saiib Hrjusc Boley Hill Rochebter, Kent. MEI ITE

Klng's SchooL Roehester page 13 INDEPENDENT AUDAIDR'S REPORT TO THE MLMBERS OF KING'S SCHOOL ROCHESTER Opinion We haie audited the &[)CiaL qtatements of king5 Schwl. R(thes¢er for the yvAr ended 31 AllSt 2023 whi& (x>mprise the Croup Statement of Financial Actiiities, the Group and Partnt cknritable Company Balance Sknt, the Group Statement of C&h Flowa and notes to th¢ financial statements. including a summar) of fi&1(nt accounting litIes. The financial reporting framework thathas applied dir preparation is apphthle law atLd United FJDgdom Accounting Standardg, inc]uding Financial Rcporting Standard 102 Th¢FiDQTJddl RenIng StsOrd PPlicable ih the UK and Wubljc oJlrel4nd (United Kingdani Gcnrrally Accepted Accounting PraLtice). In our opinion the f]nanciai statements.. 'e a true and faKr vi¢- of the state of the goup and wt dwitable o)n]wv s raIrS as at 31 August 2023 4nd F the 0UP and parent daritable compan¥'s net moveEneAt in fuDds. induding the incorne and exPendire, For year then ended; have been properly prwed in a4Yordance with United Kingdom Generally ALttpted Aecountsng PractiLE,' and h&ie been prepard in accordan with the requiremenLo of the Conipanics Act 2fAI6. Basi.8 for opiDion We conducted rjur audit in airordance International Standard8 on Au&ting {UK) (ISAS (UK)) and applLcable law. Our respimsibilities under th08e Standards are further &albed in the Au&"tor's relnsIbIlIticS for the wdit of the fancIal ststcments section of our rewrt. Wc art Indendent nf tk group in acLY)rd•ntt with tht ethical requirements that are relei?nt to our au&t f)f thc financial stattments in the UK, lUdIng the FRC'S Ethid Standard, and we haNe Eu]Rllcd our other etkn'cal re%nSibilIti¢5 in ttecordan %vLth these requirejnents. Wc believe tknt the audit ewd¢n(r iyc knve obtsind Is suificient and apwupriate to yobudc a baw Eor our opinion. Conclusions relating to going concern In au&'ting the linana statements, we havc (y)ndudd tkt the tsiutees, use of th¢ going concern basj's of accoutLting in the ¢p¥ation nf the fthttnaai ststemcnts is apwowiate. B&8cd the work Me h&i'e wfDmed wc hai'e identified any matcrAa] un(trtainlieg relaling to events or (x)ndItions that, individually or wllcctivel).: may casr S%lcant doubt on the 0P or p¥cnt tharitable company's ability to C(Intinue as a gowg concern for a wnod of at least twdve Mond frffli wn tht finaniial staten)ents are authorisa for issue. Our rcspnsibikntieand reS81bItieS of thetrusteeB withresEXrtto wing con(xrn aredesttibed in the relevantsections uf this report. Other inforniation The trustte5 ar¢ respon.qible for infomatson. The othcr itiE0rDtion tx)nipri8cs the IDFormation induded in the Report of ihe I rustees. Our ownit)n un fmancial 5tat¢m¢Dts does not (x)Yer the infMatiOn and, eXpt thc Ytent otherwi3e exp]icitly stated our rert. we do nat exwe5s aELy fM of aswrancc condusion thereon. In conneciion iyith our au(h"t of the finan(ual statements, our responsibility is to rcad tbe other irtfomation and, In doing 80, considcr Ivhether thc vther informatson is tnaterimllv Innltent with the PinanGal 4latements ur our knowl¢dgc obtained In tlic au&'t or otherwise Y[r8 ¢0 be materialli. mi&<laiEd. If we identif). rnatrrial incDnBi5tencies or &pparent mattriat-"_____' misstat¢Tnentg, we are r4uircd to detemTn¢ M+xeth¢r kn ib a nle mi4tatement its the fmancial ¥tatemtnts or a material lstatelliCnt tsf the vth¢r inlormation. Il, ort the 74.ork we hav¢ p¢rFortncd, we cy)tidude that there is a material misstatemcnt of thL'S ofvr tsntorniatii)n, are rcquired to report that faci. IN'C have nothing ts) report in this ryrd. OpinioDS on other ma¢ters prescribed bTr the Companies.4ct In our opnion, baied on the undertaL-en in cour* OF the audit: the Information gvtn in the Rwt OF the Trustecs (whith indudeg the strategic ryrt and the knrectors, reyt prciiara for purp)b¢S oFcompan) law) for the fJnan(io1 y for whith the fit]anaal statements are Prepta ig CCpn4iStent wryth the finanillJ statements: and the strategic rep)rt and th¢ director#, rert indudcd withiD the R¥wt of the Trustr£8 hayc been prepared in i)rdance with appb'(xble Icgal reqtiiremtnts.

Killg's Sch(K)I, Rochester page 14 Mattcr5 on which we arc required to report by exception In thr light of the knowledge and understanding of goup and parent charitable Ix>mpani wid its en¥ironmcnt obtained in the coursc vf audit, we have not identified material tni95ts1¢m¢mtts in the Report oFthe TrUte {W¢ incorpLhr&t&g 3trategiL report and the directors, rewt). We have nothing to report in respeLt d the following matters in rektiun to whidb the Cumpanic3 Aci 2(K>6 requires US to report to you if, in our ownion- adquatc aC(Uting records hfyye not been kept by daritsble Ix)mpany: the dmritable con7p4Y finanaal stattments are not in ageement with the aLrountsng recA)rds and returns. or certain disc108ur of trustees remuneration spttifitd h) laTh are not niade: or we have not received all the information a))d explankition$ we require for atsdit. Responsibilities oftru5tees for the financial statements AS explained more fully in the trustett. reSnSibilItIeq statement set out on pg¢ 12, the tntstees {wlM) art al80 tk dirertors of t chwitable ¢x)mpny fnr the purp)yes of conipany laY4') arc respnsible Fi)r the preparation of th¢ Pinanchal Staternents and for bel satisfied tl¥t they give a true and fair view, and for suth internal control as the trlee$ determine is ncctssar¥ to enable tk preparation of PJnanciAI btatemcnts thit are free from materia mis3tai¢ment, whe[ due to fraud or error. In preparing Gnanci31 statement¥, the trustee5 3Te rwn3ible ftsr aLgIng the _group and parent charitablr compRny's ability to continue as a going (Jykcern, disclosing, &8apPh"blC, matters rclatrd to going and using th¢ going thnLfrn basis gf ac4x)unting uknlcs8 the irustees either it)tend to h"yd8te the group or parent dwitable L>rni)an)' or to cease operations, tsr ha¥t no relistiL. Jternative but to do $0. Auditor s reSn41blIjtles for the. audit orth¢ financial statements Our Objective are tu obtain reasonable UratICe about %hethtr the finanLial Rtatements a Thhole are free from n)atcrial misstatement, whether due to fraud or errur, and to iLRue an auditor'¥rewt that includes our opinion. Rea80nabl¢ asburan( 15 a high level of assuran(z, but 18 not a guarantcc tknt an audit conducted in acrordan< ISAS (UK> will JiYay5 detect a nTraterial mitatement when It exists. Missratements arisefrom fraud or error and are considered tnaterial if, individually or in the aweyte, they could rc&8onablJ be ¢%clea ts) uence rF CLY¥nomic decisions of users taken un the lTraBiS of these Rnancial 8tstcwtDtb. IrregulwitieA, Indkng fraud, are ingtanw of rjon-complianir with laws and relati()n. We design procedure3 in line with our $}nsiblUcb, Outlined aknve to detect material mi¥ststemtnL in rets1 of irrylarities, indu(bng fraud. The cxtent to wkn'ch our procdures are capable of detrcting irregulan"ti¢s, ir)duding FAud ts detailed below. on our und¢rstanding of the 0P and parent kn"table (xmipaTry and the envir(mment m wkn'ch it opeTates, we idcntifjcd tt the prJncipJ risk of non-(x>mplianLr with laws and regulations related toThe Edu(xtiun {Indeptndent Sthool Standards) RelatL0 2014, emP1vent km", saftgUardin.4relatiOn5. FAth and safety requirements, GDPR and Charitv law, and we considered thc extrnt to non-MplIancc might has¢ a materia effect on the fjnanaal %ratements. Wt also considered those hws and regulations that have adirect impact on the preparation finanLial Etatettients buch a% the Companies Act 2, Cknitse5 Act 2011, Charities SORP arml payoll 1C5. We evaluated nianagtment'& incentives and opp(kn]niti¢5 fr)r frauddent manipuktion of Rnanaal statements (indllding the rlsk of override of contro131 and dettrmincd that the winLipal riskn were retsted to reCollIon OE income and managernent bias in accounts estimatei and]udMents. .ludit wotrdures p¢rformed by the engagenitnt team included.. tns]xcti'ng minutes oFTrustr¢s' meetings. Inspecting Lorrespmdence * regvktor5 and tax authorltie5' DI8810n8 with mananIent induding con3ider&tion of known or Sperted instances of non-complian¢¢ with lam's 9nd retion and fraud. Evaluating man2geTn¢nt's controls dwed to ¢Yent &tect irreylaritieg. Identifying and testing journals. and Challenging assutnptions and judgements made by manyemt in their alting estirnales. Because of the inherent limitations oFan autht, thtre is a risk that we wdl J)ot detectall irrwlarittes, including thoqe lead]ng to a tn&terial misstatement in financial statements or non-compliar]ce K'ith requlation. Th'$ risk intreages the rnore ¢t compliance with a law or reylation is removed from the Cients and tran5artions retiected iti the flnancial statements, as we wlll be le3s hke]y to become aware of instances of non-Ix>mpliance. The risk is al80 geattr regarding IrrerItiCS (7tturring due to fraud rather than error. &¥ ud involYeB intcntional concealment. forw)p collusion. ¢)miOn or misrcprestntation.

King's School, Rochester page 15 A further deqcription of our rcsponsibilitie5 For the audj'i of the I'inancial siatement5 LS located on thL Financial Reporting Cr)unciI'5 website at.. www -uk/ on3ibi This descrii)tioD form5 parl of our au<h"tor's report Usc ofour rcport This repori is Inade solely LO the charitable conipany's n)ciiibei'%, a boxly, iii accordance with Chapier 3 nl Pai't 16 of the Companies Act 2006. Our audit work l)a% been underlaken so ihat we might state to tlie charitable company's member% thtsse mil tters we requii'ed to slate to them in an Auditor b rtport and lor no other purpose. To tlie fullest cxtent perDlitted by law, we do not accept or assume rc5ponsibility to aJ)yone other than tlie cliai'itable eomi)any and the charitable comi?any's members, as a bodyT for our audii work, for tkns report, or for the opinions we have lornied. Tracey Young (Senior statutory auditor) for knd on behalf Df Haysniacintyre LLP, Statutory Auilitor 10 Queen Street Place Lnnduii 30 April EC4R IAG .2024

King's School, Rochester page 16 COMPANY NO. 3791543 CONSOLIDATED STATEMENT OF FINANCIAL AlY1TIFs (incorporating Jncome and Expcnditure. Accoun¢) FOR THE YEAR ENDED 31 AUGugf 2023 ReXtr EndoA"ed Funds Total 2023 Tot Funds INCOME AND ENDOIYMENIS FROM: Ineornc From charitable artivitieg chool fees receivable Otkr eduTrtii>nal inrotnt Other trading activities - RLnt and Lx)rrtrni&%ion rtetivablt - Trading income Investment in(x)me Donatioth$ and grants Itgaci 10,814,2¥6 91,S60 10,814286 91,560 J,734,887 123,075 IIH.8b5 32•.463 73.808 9.3 114,768 322,463 89,170 144,953 106,366 11,683,S66 134,362 350,998 44,712 31,771 )23.019 15,362 30 lQ6,.366 111,661 144,913 Total Income I I,W982 144.923 10,()42,824 EXPENDITURE ON., Costs ofrii5ing funds Trading cxpen&e5 Charitable activjties - Eduratiutb - PtlSe5 41kn.t87 418? 412.iS8 6,669.8 1,630,992 84!),9jg I,6¢7,}7 6.669,998 1,&55,189 849.959 1,644212 147,691 10,971,049 11,377,236 24,197 1,68i,0.53 710,657 1,54)C,38j 91,013 9.912,887 10,325,445 - WeLFa - Supwrt uf s(kn11 . (Trants, awards and prizes Total tharitable exnditUre Total exp¢nditure 133.686 14,(5 .18,807 10.798,5.56 IIM743 133,686 133,686 38,807 Net income befoft inyestment Ios8es Net invwtment Ivsses NET MOVEMEYT IN FUliDS 207 239 13i,43? 11,237 92,$)4 (62,88 29,%7 617,379 166,510) 350,869 98,119 208,011 11,237 Reconeiliation of futsds und balances at I septthLtr 2022 11,479,378 6.920 2.817.2i3 14.303,551 13,752,682 FUND BALANCES AT 31 AUGUST 2023 15 11fv14185 14157 1847,220 14,511 Ji62 14,301,i51 All amounts relate to ItInUing activitlC3. All rewsed yns and Ios2£S in the current and lor year are induded in the Ststement of Financia Activitits. The comparative Year's Statement of Fuwirial Activities is included in nots 20. No separate Income and Expenditure account has been produced Clus¢ the Net Incoine for Companieo Act the a4 the Net Mov¢mtnt in Funds ot] Unre5tricied Fun&. The note8 on Fg 19 to 35 form part of the%e fjnanaal statements.

King's SchooL Roehester page 17 BALANCE SHEErs AT 31 AUGUST 2023 ComyatLy Number.. 3791543 GROUP 2021 CJROLIP 2022 SCHOOL 2023 SCHOOL 2022 A5 resiated A restated FIXED ASSErs 10,949,092 2,962,131 13,911,221 10,906,983 2,570, IC)2 10.632,902 3,159,481 13,992,183 In,556,752 3.028, 347 Inve.sttnvnlS 13.477.175 13,585.OY9 CURRENT ASSErs Siocks Debtor5 .a5h at bank and ID hand 3,270 504,263 3,227,050 1,734.583 2.776 539,674 io $01,594 3,197,775 3,699,369 514,Ml 3.138,n67 3,740,CJ63 3,652,508 CURRENT LIABILITIFS: Creditors.. atnounts lallinE du within one year (2,243,055) 11,947,236) (2,186,722) 11.891,837) NET CURRENT ASSETS 1,491.528 1.793.727 1,512,647 1.760,671 LONG TERM LIABILITIES Lreditors.. aTnnunt% falling due after more thali one yeaT {891,1891 1967,351) (891.189) 1967.3i11 TOTAL NET ASSErs 14 14,613,841 14,378,419 Representing.. UnrLbtricied Fund5 Ilestricted Funds 11,646.185 18,157 11.479,378 6,920 11.748,464 18,157 11,554,246 6.920 15b Endowed Funds Expendable Endr)wnient Flind5 PeTm4inent EiidoiYtDrnt Funds 1,249,176 1,598,044 14,511,562 1,284,660 1.249,176 1,598.IM4 14,613,841 1,284,660 1,532,593 TOTAL FUNDS 14.803,551 14,378,419 King's School, Rocliester hab taken the exemption Frotn prescntsng it5 School ststeJnent of financial actiiryties utider section 408 af the Comi)anies Act 2(K)6. The net moveTnent in funds of the School was a Surplus of £235,422 12022.. suTlus or £557,485}. The noies on i)a£e5 19 to 35 Form part of these finanaal statements. The financial statements were approved and authorised for issue by the Board of Governors on 'yed below on it$ bcl)alf by.. 2024 lind were QLLL ' John Maa An&ew Gower

Kingls School, Rochester page 18 CONSOLIDATED CASH FLOW sfATEMENT FOR THE YEAR ENDED 31 AUGUST J)23 2023 2022 Net cash inlyow from Operati activities NTet moyement in fuLds lThve5tment income and intrrejt rf(xivable 208,011 (89,170) 19S.984 1,710 98,319 (494) 35,411 275,39> S5,738 869,428 SiO,869 144,712) 4.i3,168 6,375 66,510 2,851 {279,2601 297,514 I18,)) 1.03).02? Depreci10 L/(gurP[s1 UTh sale of PLxed asstts Unrealised lo on irlyestrnents (Incre)/decrQ1e in stock5 DeLYese/{inLrease) ITh debtors Tncrea8e creditor5 (Detttasel IVJ defJcXt Nct cash providea bv 0tIng adiviti Cash flow from inTr'egting aLii'itieg In%'e.stment income. and inte.rest received 89,170 {439,803) 44,712 (4911 1 i)) 1,398 124,713) Pur(&&se of tangible PLxed a58ets prod3 ftrojn le of tangibk fixed we.15 PurLkn8e orrixed iTrve5tments {629,387) 139,129 {840,891) Saje of fixed asset inyestrnents Net u5cd in investing actiiities <477,7821 N¢¢ changc in and Tr¥h ryuivalents in the vear Cash and LskL quivalents at the beginthing of the year Cash and (¥sh equx)7lents at the end of theyear 2&537 3,198,513 1,227,050 5i7,243 3,198,S13 Analysis of cayh and cash quivalents CAsh a¢bank 330,010 2,897,040 3,227,050 298,513 2,,(K) 3,198,513 DeSits Analysis ordnge5 in net fund5 At slart of year At end FloTrys of year Cosh at b3nk 298,)13 2.,1XMj 3,IC)8,j13 31,497 (2,960) 8, j37 330,010 2,897,040 3,227,050 Dtpo$its

Kingls Schoo4 Rochester page 19 NOTES TO THE FlliANCIAL SIATEMENTS H)R THP YE4R DED 31 AUGUST 2023 I ACCOUNTING POLICIES The fJnanoaL statements have been prepared und¢r the Ixistori(xl cost convvbtion, a¥ modiRed by the inclusion of fixed asset& inYe$trnents at market Iglue and eertaLD freelx>ld knd and buildJ"ng at revalued amounts. The format ol the fin8nci stat¢menLE has been presented to compl} with the Comwes.4a 2{x, FRS102 Th¢ FiEJaDdaE Iwrting SrondarJ appliwbl the UK JTeJalld the Statcment of Recommended PrcLice for cknties (SORP) verability of existing debts is fOreCt to rrtore diffia]It thatt in pvIouS years. Howcvtt, the s&(K)I has no current loans in plac£ ajid }ernOr$ are also taLing stcF to address UnLYrtaintscs Ith increased resources for the marketing Functson and a Coat FoLlts through to Aust 2025. Given the sdM)ol kn. sutyiaent re8ervc%, the Trustecs consider that there are nr> )YLatrrtal UtaltieS whi& M'ould cast &ubi on the SCI>1.8 ability to continue a8 & going conccttt. Group ALcounts Th¢$e Pitun(ial Jtatements (x)nsolidate the results of d charity and its whollv-owned subsidY RofftLimited on a kne by line kn: ,{ separate Ststenient of Finanaal Actisitiei for d)e L.Iwit) LtEclf is not pre8cnted be£au8t the ChltY has advantage oFth¢ CXe]nptio afforded b) Section 408 of the Compn1 Act 2(X)6. General Information The Charity 13 a company illnj'led bv arantee, In(x)r]t in England 4nd Wale$ {oJmpanY num.. 3791543) and a d)aritY rE'stered itl England and (charity numbw.. 1084?661. Thc Sd1 (x)n%'erted froTn its dassifjcation Roclwtcr Cathedral (King'sj Sknl, an uniDcorratd to Limitd (A>mpany statu8 and lyan Irading a3 King'¥ Scknol, Rthter on I SePteMr 21XK). Significant Estimates and JudgcmeDts In preparing thesc fllwiaJ statemtntb the trustces have Iwi to estimatrs and as3utnptlOn8 that atTect the aniounts recyiSLd in these kncial statcmeThts. Estitnatcs and judryents art contiDuallv eVUated and gre based on historical exrienCe and other Factors, including extion¥ of tuture events that are lied to be reasonablc under cireumstanLr5. Thcrc kcy art4s subject to estimation Wtainty or judgement kne dcpreciation. bad debtprovision 4nd investment prorty ¥ution. Incorne All income 1$ induded In the Ststejnent of Finan(Jal Ad1Viti when the Ckrity is entida ts the income, its reLtipt AS prob&blc and the amount can quantified with reaale ¥Lwrw. following st1"fiC poliaes 4r¢ applid to partiojlar cateyrics of incomc.. Donation¥ are acLY)unted for a receiycd basis. Ltgaaes are reISed on a rec¢ivknle bw, WI the Ly)ndition8 of entitlenient, probahLlity' and tncasureii)ent are n)et. Where the wolxbility. and/ur measurem¢nt (Titeria for legaeiets and donations are not satisfied at thc balancc 4et dare but subacqucnt cyents rebtilvt thc unc¢rtaiThty su& thi¢ the criteria arc met, an lUslent is e to the incnrne. PrIOu£"11ggr4Iknts are rwised a recciyable bagi&.

King•s SchooL Rochestsr page 20 NOTES TO THE FIT4ANCIAL sfATEMEPm H)R THE YEARENDED 31 AUGUST 2023 Fees receiY•bl¢ includes IKbth gcneral tuitson fees and Oth ftts and rthgts, nel of scholarships and remisslons, is a(Unted f(ff ID the perid in wkn'th the s¢rvire prowided. General tuitson (tts LY)mpri all amounts in relatsuTh to tuition, boarding and lunkn. Investment iti(¥me is accountd for in period in which & drA"ty is entitkd to rePt. Renl. and interest is ac(x)unted frjr i)n an acLyuaL8 basis. Expenditure Expen&'ture are acci>unted kn on att acmLats kns. Ewditur¢ i5 allo(gted to exFnse headings on a direL't cost ba51$ exceptfor Centr cosL4 whi& are aPrtion on b1$ of I.fruSt¢¢s, eimate of time Tent on the rele¥ant functions. Raurjdancy atsd tcrmination costs art aLxDunted for an a(nJals b&%15. Expenth'ture on raising fund8 coniprise th¢ costs asated with atiractsng voluntary inL¥)tne, CXK8ts of traditjg lor fundraising puw3es and fingn(x Cost. Lharitable exw&ture 1X)mse5 kn costs jrea by the Charity in delivcry of IL activities and ¥ervicu for its eficiariets. It include8 knth (x3ts tknt [tea thrertly to suth aclivAtit$ and those costs of an indirect lUre neeessary to iupwt theTn. sUprt C08ts rcprcsent statYd 0r costs incutred in dirertiy <upwrting the teAd]ing funcrion and general running of the School. Governance costs include eXn'ture on compliance with ConstitiOnal and statutory requiretnents. These are included withi'n support costs. Grants and Burtraries Grants and bursaries from restritt fwids are included a$Fendir¢ in rI£( wkn"& the award 15 given. Bursaries and allowanees from unrestrietd funds towdr& sdKKbi fees at the Scknls art trtated as a reduction in thoge fees. Tangible Fixed kn¢ts and Depreeiation Freehold and I¢hOld land and buildings are inL4uded m tht balan(t shttt at a valuation by Messr$ Burknll John¥on Me5srs MidBel er5, chered Surveyor3 at in(vrporation on I kptember IW9. with additions date being indudcd at C05t. Expenditure on repairs and a]terations which do rtot ada due to thc yemised is dwged to t Statement of FiThan(ial A¢tivitse% in the financ4al ytar in whith it is incTrJrred. Depreuation ofFreeknld buil&"ngs is w)vided on a straight line over 10, 20. 30 and 50 yw8. Depredation d lea*hold billldings is provided on a straight line oyer the unexpired portion of the leases, the remaitiing of ea& knildingj or 50 year5, whidjever is shortest. Expenditure on furnittsre and equLpment, PtureS and Fittinand vehides witha TninitThum projeLt value oF£l,tKMJ, wkn'ch have an expected useful life in exLES8 of one year. are included in the b&antt knt at cost. tkpr¢c?ation is provided on a Expenditurc on sle[ items 15 charged to the StAtunent of FTrnancial Activities in the year oFai4lltsition. Investment Property The investsnent property is induded at fair va]ue at a tntstees, vJuation. The trustees believe tht (xwrent fair value 15 not tnat¢rially dilF¢renl to the professiona] valuation completed by TWD (Chartered Surveyor ) on 19 November 2D21. Financial Instruments Basic fjnanoal itistrurnents trangaetion3 tknt result in reWill10 of assets and liabilitie$ like trade fjnd other atwunts receiyable and pxyable are for on the following basi8.'

King's School, Ro¢hter page21 NOTES THE HNANCIAL STATE.MENTS TOR THE YEAR ENDED 31 AUGUST 2023 Investments Investrnents ld lor long-tertn to nerate income or witsl wwth are carrled at Eair value a8 fixed a55ets. T Statement of Finanaal Actiiities inrludes the netgaiDg and losses 3rising reYaluatioTL5 and disposals thrOuUt the year. Cosh and cash EyulTr"aletJ¢s Cash and equiyalents itteludes cash in hand, dcwits held at banks, other Ehort-terni highly liquid investments with orlgti'ai maturities of three rnthS or les5 and bank over&afts. Overdr1£, appli(3ble. are $hoMm witl)in rrent liabilLties. Debtors dna creditors Debtors and ere&'tors are mt4¥urd at the trans4n price le&8 any provision for imwertt. Any 105se8 ar15iysg fro irnpairment are recogni8ed a¥ expen&turc. Fee In adYGnc¢ s¢hcm The Sch(KTrl an dvaThtr fee8 scheme wlveby wents and others make advan pa)Thents, together with the discount accruing thereon, Exovide for a set c[>ntrtb'tIOn eath terni towards the pupi15' fee&. The capitJ portion outstanding IE rewged a8 a liabLhtv and the amount of dis£x)unt &tlIed thc year is itdudd in thr Statement of Financial Actsviticts. Stock$ CoT)sumabk stocks) prOS1On5, 6talionerY and xknl Iwks are tsged to the Statementof Finanual AltieS in t year of purd]ase. Stodu8 of go(xls for rae art statrd at th¢ lower of cost and net realwble value. Pensions The School op¢rate8 three wsion s(knc3 to providc rttirtment b¢ncfits for LErtain staff members. 'lfv ¢ts d)arged to the ststnet dFinanLial ACtitieS are dctennined as follows: 'l&o Tea&rs' Pension SthJne-'lThis thmeis amu1ti-etnplm.erTrsI0 thme. It isnotp>ssible tr>idcntify the. Schwl'8 share OE the undcrli2ng aknets. and liabthtLts OF Tea&ers' Pension khem¢ on a consistent and reaqonable basis and therefore, &4 required bi FRS102. accounts- for the as if it were a defind Lbntribuuon Scheme. The School,

ntributii)ns, whjch are in &ctordance with the recommendati¢ms of the GoVe[nellt Artuary, are charged in the pcriod in t salanes to Mkn'eh thev relate are paiable. The Penaions 'l'ru3t seie is a tnults.eTnplover defined b¢nefit kn for mlu.ch the tho1,5 sht of the underlyng atsseLR and liabilitic5 (ai]notbe sepvare]v idetbtsfitd. Th. ¥dle is thttefLYe aLted for as a defina contribution scheme in ax)rdaLE with scctivn 28 0£ FRSIU2 and agreed w.qion ddlai funding pawent8 are provided for on a &'scounted basis. The L¢gal and GeDeral Work Save Pcnsion Plan iB a d&llhed ())ntribution 3d]emc trj acad¢miL Btsff, Operating Ia5es Rentals for opttating leases arc ch¥ged to Ststement of FAnanciai Adivities&¥ t]w are in(urrd. FuniL8 Unrestricted fwidl are th(e available to fUrd & SclM)ol's dwitsble objLrt¥ at the di9LTeti1 ofthe VernOr5. Reatrictcd Funds are monies that are subjtrt to rfstrictions by the dothors. Permanent ¢ndowed fuJAs are fun& where the origitd mtbe maintained. Expenaable endowmtni fund¥ are Fun(L% M4Jerc the or1w cApital can Ix)nYexted into incY)m¢ For spcn&'ng either at the Truste own th'q(xetion.

King's School, Rochester page 22 N(yfFS TO THE FJNANCIAL sfATEMEN15 FOR THE YEAR ENDED 31 AUGusf 2023 2 FEES RECEIVABLE 2023 2022 1£19a,885 (1,527,347) 10,666,S 147,748 10,814,286 11,081,29) 11,3(rf),3521 ).7?0,938 Le83 bur3arlcs and discounts BsarleS and 3cho]arEhiw lunded by restri(ted fund Fees Receivable 9,734,887 3 DONATIONS AND GRANTS Don3tioT]s and gratjts in1¥¢ include$ furlouglu'nggrants of£Nil ditnedby the ryp during the year (2022.. £1,374). 4 EXPENDITURE FROM TRADIPG SUBSIDIARY Trading aLYJvitses nt)t eonnected with t Lknity's are carried out bv RoRa Ltd (comwy number 02235699), wholly owned subsidiary companv. The cofflwi. transftr% &xablt prtsfits bi. Gdt Aid to ihe Sthuol. 2023 2022 TuTnover Trading Ina>me J64795 388.301 CSt of sale.s 180,386 44,975 386,982 39,379 ojrating c(k redwged by King's Trading ExpetLSfJ 425,361 426,361 Gross IA>SS Administy&ii¥e 156.566) {31,655) (38,0601 (31,SOlj OpErating Los Intrrtst rettivb¢ 188221) (69,5611 Retained1055 for the year 88216 (69.5611 Balance Sheet Fixcd Ase.ts 116,190 350.231 2,776 28,)77 Stock Debtors 14 Cath #t batsk 29,275 (6&560) (I,1J> ,929 c.reditors due < t year Credits)r8 due > l year Net liabilities {58,743) (i.i(Kl.(KX)) {716.713j Share capitsl and ruerves Share <xpitsl Profit and108s ac(x)unt (805,029) 804,929 (716,813) Equity shareholders funds 16,713} £H,99612022= £39,379) of iurnover and £44,996 {20??: £39.3791 of Lxy6t OF sale% relate to transacOn$ with King's SdLooI, Roche8ter. These have been eliminatsd on con80]idation. £1,336 of Roffa Lunitd illLY)me kn been allted to Rent and CommisBion Retivable on the SOFA.

King's SchooL Rochester pag¢ 23 NOTES TO THE FINANCIAL STAThItEP¥IS FOR THE YEAR ENDED 31 AUGusf 2023 NET MOVE,MENT IN FUNDS 2023 2022 Net movement in Funda ts stated (&arging'. Dcprcciatitsrt charge for the year Tangible fjxed Sets owned Oper¥ting leaEe pajrnents Kig,5 Sthool, Rochester Roffa Lllnited iDS8 on sale of ted 5S¢ .4uditor$' remunera0 for audst£ervis KiThg'8 SrJKM>I. Rodrter Roffa Limited 395,984 453.366 111.012 20,0(M) 6.375 1,710 182( 5,7511 4170 15,8 .4u¢kntor6 femuntration for othtr seryl 3,450

King's S¢hooL Rochester page 24 NOTES TO THE FINANCIAL ATMErIs foR THE YEAR FTrIDED 31 AUGUST 2023 6 EMPLOYEE INFOKMATJON 'llxe aver4e week]y nUMr oFemployees dur YLW was made up as follow5: 2022 Number umber Teachi Stafty Other StalT RotTa Limited 105 124 24 105 20 153 246 Employee Stsff w¥ts Salari¢s wag¢8 Social CurItY (Xb5ts PeJ]gioJJ eotttributiotis 6,538,(AJ 591,617 8t 1,414 S.5,194 523,561 777,17 7,941,674 7.20.3,930 During the year rcdllndanents of£16,899 {902?: £24,892) wtre made by the knl. No termination paymenL were made bv Roffa Limited during year (2022.. £Nil). Tht numbtt of employees earnittg Over £60.(KM) in the year were: 2021 2022 Numher NuTnber £1%),)] . £70,IKK> £70,l . £130,0 Two (2022 thrte) of the employees earning more than £60,O¢J) are mtmbtrs of the TeAdrs' Pension Schetne. ODe of the employees earning more thaD £60,{ are n]ember5 ofa xknn)e run bv tEga] & Genera, one 15 a membcr OF a scheme run by the kndependent SdxKb15' Pen8ion thme one is a member ofa wiva sdleme. Key mwement personnel The key management roles in the knl were the trustees, wllo are not paid, Principal, Headmaster of the Preparatory School. Headmistre88 dthe Pre-prewatory sd11 and the & Clerk to & Goiernors, Direct()r of Extern31 Relations and the Director of Optrations. Their tots] emoluments )ndng and emploveJJ8 pension and national insurgThc£ contr11tiOnS P.d was £60*,76812022.. £558,692). Transactions with Governors None of the Governorg received anv remwieration during tk wii>d (2022.. gNil). The regate amount of expcnsL reimbursed to Governors during )'ear £1,625- traiel exn54 For one Govert)or {2022= £8). Two cEuldren of one Governor12022.. Two en of one Governor} attended King's knl and they received some assistance towards paymeni of fees on an arTns-length basis. Donation5 tota.ng £3,945 (2022.. £5,5%) were received from Governors knring the year.

Kingls SehooL Rochesler NOTES TO THE FINANCIAL STATEMFTrITS FOR THE YEAR ENDED 31 AUGUST 2023 page 25 7 ANALYSIS OF TOTAL EXPENDITURE S(¥lTcos Other DepreaatiDIL 2023 Charitable activities School operating .. Education 5,876,257 473.8•1 43).037 fj(Jy.835 711,505 930,8(A> 395,766 17.465 6,669,998 1,655,189 849,959 1ffi14,141 34,070 147,691 10,971,IM9 Premises I'elfare Supwrt 2.50.508 19,156 6.8+2 Col'ernan co$ts Grdnts, aardS Athd yi2ts Total for charity. 147,691 7,784.950 2.827.357 358,742 Trading costs thf sub&idiary Total for group 156,724 212.221 37,242 4,187 7,941,674 3,039,i78 39S.9 I 1,377,236 Cornparatil'e Analy515 of Total Expenditur&' Other Depre(7*tion 2022 Charitxble activitA¢S s¢h(lope[9 c.. Eduthition 5,367, 430,i25 -171.137 86? 612 508,70J 93.5,.176 324,404 A46,i57 29,327 21,013 70,112 319.152 5,946,779 1,685,053 710,657 I20,058 29,327 21,011 9,912,887 Premises 'elfare Support Covernancr rosts Crant.s. awards aThd yixcs Total for charitv 10,889 7,03?,240 2,465.378 415,269 I'rading costs of thc 8ubthiiary Total for group 171,6XI ?0?.769 412,558 7203,930 1668.147 453,368 111125,445 Analysis of other sUPrt costs: 2023 2022 AdThinistratsoti Leclure3 and couf5eS TraryEI ènd enicrtainzneDt Advertisi and public r¢latioThs Othtr 276,448 40,318 36,349 139,977 114,373 (A)7,465 3(K>,3fA> 33,571 120,861 169,248 646,557

King's SchooL Rochester page 26 NOTES TO THE FINANCIAL STATEMEfm H)R THE YEAR ENDED 31 AUGusf J)23 8 SCHOOL AND GROUP TANGIBLE ASSErs Group Freehold knd and buildings Lt•¥&>ld ddiftg$ N'aidfB and equipment Total Cost or valuatio At I Septernber 2022 Additlotis 13,013,583 270,.152 2,372.520 2,656,39t 141,2i2 (36,¢1191 2,760,664 18.IH2,4IM 439,801 36,979 At 31 August 2023 13,283,935 14th),719 18,44i,318 Depreciation At 15eptemkr 20?2 Provi¢LTrg during year Disposals 3,931,128 169.687 1,088,O.E7 66,645 2,116,326 li9,652 (35,269 395,984 35,269 At 31 AUgt 2023 4,IIKI.815 1,154,702 2,240,709 7,4%,226 Total net book value At 31 AUt 2023 9.183,120 1.246,017 519,955 10,949,092 Tot41 net book Value At I Septrrnber 2022 540,06) lo,6.983 School feeknld latkd aryd buddkng5 Leastbold buildings ¢hicle$ and equipment Total Cost or valuation At I Septemlr 2022 AdditioTb6 l-ransfer of assets from RolTa IAmittd 13.013.583 270.352 .785.2 28.199 2.i42.521 135,943 398 17,341,398 434,494 398 At 31 August 2023 13,283,93S 1.813.49J 1678,862 17,776.VMb D¢prccYation At I Scptrrnber 2022 ProYi&ng during year At 31 Aw5t 2021 3,931.128 169,687 836.888 38,309 2,016,610 150,746 6,784,646 358,742 I,1(815 875,197 4167,376 7,143,388 Total net book value At 31 August 2021 9,183,120 938.296 511,486 10,632,902 Total net IM)ok value At I Septrmber 2022 9,082,4)5 525,891 10.i56,752 None of the buildings land are held for investment purtM)ses. On the Form9tion ofthe Com]y* certain endowed woperties wtre retsitied by a sewate charity, RodKster Catkedral King'3 School Endowment Trust Icknty Nutnber 3079?2).

Kingls School, Roehester NOTES TO THE FINANCIAL STATEM'TS FOR THE YEAR ENDED 31 AUGUST 2023 page 27 9 FIXED ASSEf INVESTMBNrs Group Quoted investrnent5 Inve8lmcnt Propcrly To Nlèrktt value l Septctnber 2022 Addition6 Diswis proceed5 urealed ItS 275,(lY) ? 295, 192 2,570,192 62Y,387 629,387 (.139,129J {139,129) {Y8,3191 98,319 2,687,131 2,962,111 Market value 31 August 2023 275,¢KN) S¢hool Quotcd iThvtttmtnts InveSent in wkndiary lrtvestrrlent Totsl Prrty lott value I Septetnbcr 2022 ,Idditions ImPrment Unrealised l(b55CS 4i8,lii 275.( 2,295,192 3,028,347 62Y,387 629,387 (139,129) (199,934) 198,319) 98,1191 4&87.111 3,359,481 (fAY:W51 ,Market value 31 Aug¥yt 2023 397JSO 275,IXM) The iDye$thJent iTh & subsidiary? RdFa limited represents l(XW.,ti nf & cornwy'3 thatt &thd £I,1(K>,( OF Re.deetnable Shares. FollowiDg 108se8 in Rnffa Lilted and an r¢vi¢iv rforMed by Trs.eS, the Redee.]nable Shares have bec written down to the Tru8tccS' tstimite of their recotrerable am[t. Roffa Lirnited w•s itbC¢Jrporatrd in Mardx 1988, its priDcipal adiyities bcing dLe exteTna] hir of • yrtseentrt., letting ofdool rtlatrd fadities aDd the *le ofconfectionerj a sna

Kingls Sch(bol, Rochesler page 28 NOTES TO THE FINANCIAL STATEMENTS FOR THE YL4R FJ4DED 31 AUGusf 2023 10 DEBTORS Group Sthool 2023 2022 As re5tst 2021 2022 .1¥ re5tstcd 13946 8092 284,125 217,4 27.850 294,334 119046 80,592 269.229 12.227 501,594 21?,+90 27,8.50 265,757 3,344 514,441 Sundry debtiws Prepaid expen8e8 Roffa Limited- iDtercompThy 51M,263 539,674 I I CREDORS. AMOUNTS FALLING DUE WITHIN ONE YEAR Group School 20 2022 2023 2022 .4% re#ated Ai rEstatcd Trade (Yeditors Prepid fet.s ees In adi'antt (note 131 Pupil depu5its Ta¥ation and socil se(rIty Penslon deficit re.ductM>n CDntributiDns (Dolc 17) Other L&tS Deferred IttLt)me A(uued exnSes 195,678 75&240 601.0% 3(170 147.182 lQl.152 fK>7.016 414.24 34,? 132,$49 19S,678 758 940 601,0% 36,170 147,182 168,8fl8 (K)7,016 4t4,244 34.90£ l?4,6)6 51,112 198,020 84,992 170 +9.623 15?,218 160,(KK) 209 329 51,112 159,026 84,992 153,226 2.186,722 li5.218 160.0(X) 171,367 1,891,8.17 2241,OSS 1.947,236 12 CREDITORS: AMOUNfs FALLING DUE AFfER MORE THAN ONE YEAR Group Sthool 2023 2023 2022 2022 Pensioll deficit redtion contributiODS (note 171 Fee* in 4dYancc {note 13> Pupil deposits 34<193 187J89 157,407 89t,189 403,420 229,984 333,? Y67,3il 346,193 187,589 357,41YI 891,189 403,420 229,984 333,947 967.35 1

Klngls S¢hooL Rochester NOTFS TO THE FINANCIAL STATLWI FOR THE ENDED 31 AUGusf 2fr23 pago 29 13. FEES IN ADVANCE Parents haTrc thc OPtion of pyit)g sch[ fee5 iti adVarl for either part of or the wlKilt time tthat the P1[ is at the 3th001. The money is Tcturned if the thild is Withdra. from tbe s1. lftrr an). outstanding fees are dedurtcd and amounts oiylng are added. A581Ltniii8 pupil¢ 'i11 rewnain in th¢ SdMM>I. fees will applied as follows: 2023 2022 ithin one year 601,096 414,244 Nl'itbin one to two yCArs WithitK two to five yeaTS 187,589 162,212 67,772 ?29,984 6M,228 187,589 The movements duri4 the yeAr were: Ba]ance at I ,frptrmlr 2022 Additions to Ed)trnc Pawents of fcc Balat)ce at 31 .4ugust 2023 6H,228 641054 497.597 788,685 636,Q90 514,642 1.506,5(PI) 64+,228 14 ALLOCATION OF NET A&SErs 'I'angible &%ets IDYcsbncr Netcurrtnt tetrn Total liabilitiL8 At 31 August 2023 [Ipre¥trlLted Funds Re.strded EXndble Endow'JncTrt Permanent Endowrncnt School totAI Subsidiarv 9,)8,492 1.741,462 ,329,699 (891,189) 11,748,464 18,157 1,249,176 1,598,044 14,613,811 102279 14,511,562 I,OlJ.110 934,066 (69,?7>1 1.512,67 l.U64.410 10,632.Y)2 316.1 3,3?4 481 C)7.3iO {891,189} Group total 10,949,1192 2.964111 ,491,528 891,189 C()mparatiTr-c Allocation oFNct A5set&' Taneble tnvt5tments N¢t current a55ets Inng term Tot41 At 11 August 2022 LtJJreStricted fiuOs Rc<tricted ndable EDdo*ment Pcrmanent E.ndowment School total Subsidiary Group total 9,4TI,9)3 1,816,865 1,226,8?9 6.9!0 73,178 {967,351) 11,SS4246 6,920 1.284,660 I,S32,593 14,378,419 1.211,482 1,078,849 10,556,7.i2 -3,028,347 {4)8.1 ))} 4570.192 1,760.671 33,Oi6 1,793,727 (967,351 j lo,.9] (967,351 14303,551

Kingts SchooL Rochester page 30 NOTES TO THE FINANCIAL STATEMENTS foR THE YEAR ENDED 31 AUGusf 2023 IS MINDS 1Sa Unrestricted Funds Unreytricted Funds- Group Balan at 31 Awqt 2022 In(XbM¢ Extknditofe. Investments. Jn$l losses) and transfcrs Balance at 31 August 2023 Cenerdl fund Bursary Fund 10,11.17,483 1,358,708 12,196.191 1716,813) 11.479,378 11,107.4 20,834 11,1?8,234 278,748 I I,.982 (10,837.7791 11,107,104 1,344,110 12,451,214 (805,0291 11,646,185 (3J,4.321 (li,4321 {10,8.47.7791 (366,9641 (11,204,743) Subsi¢knar)' fun 35,432) Unrestricted Funds- School General fund Bursary Fund 10,19.5,-538 1,358.708 11.554.246 11.107.4(M) 20,834 11,128,234 (10,837,779) (6A),80.5) 13J,432) (96,2J7) 10,404,354 1,344,110 11,748,464 (10,837,779) The Buw Fund iDcorne contiDues to be reinie5ted until it has reached Sufflent 5iie to make e worthwhllt Cotttribution tts bursaries for PtsPLIs. Comprative 2022 Ba]atkce at 31 ..1ut 2021 In(x)me F. tiditre IThNC5tentS &¥ins1{losEe< transf¥rs at 31 .4ugust 2022 UnrtriCted Funds- Group GeneTal Iltsrry Fund 10,6Y6.BI8 1.33Q 141 12.035,961 1647.252) 11.388,709 In,0&3 ?99 24,733 10.067.(16? 324,063 lo.3,025 (9.XI2,5641 10,837,483 1,3J8,7O8 (5,168) <5,168} (9,2.5) (391.6241 {10,294,188) Subsidiary fund5 {716,8131 11,479,378 (5,168> Unr¢$trirted Fund8- School GeTrer£l fund BurrY Fund 10.117,818 1.359,143 11.456,961 10.0$3,229 ?4.733 10.(J57.962 I9,2,)61) {62,94i} (5,168} (68,1131 10,I9i,538 1,358,708 11,5j4,)46 (9,2,)611 15b Restricted FuJids- Groupand School Balan at 31 August 2022 Income Exwditure Tr4Dslers Balance at 31 August 2023 Restrirted Funds Grand Piano Fund Lord Ch4dlington khohrthi Henry Oldfld Bursaries Other s(knlarthip3 6.920 920 44.541 (41,541) (,(th) (9,145) (133,686) 20,182 IM,923 11,237 18,157 6.920 Comparative 2022 Balan at 31 Augtsst 2020 Income ExDdItre Transfers Balance at 31 August 2022 Restrirted Funds Grand Piano Fund 6.920 6,920

Kingls School, Rochester NOTES TO THE FINANCIAL STATE.WENTS FOR THE I'FAR ENDED 31 AUGusf 2023 page31 IS FUNDS (¢Dntirtued) 15c BndoTrment Fund8- Group and School Endowmen¢ Funds BaL4nce at 31 ,luys¢ ?022 EXrditUre Inveglments in6/ Ios5es} Balance at 31 Auy5t 2023 xndable Endowment Fund fJeotTrey Harmsworth Trust Augu8tine C¥hell Fund RCKSET 1.089,066 21,579 (20,521) 117,6341 1,072,49) 69,377 107,309 1,249,176 126.217 1,284. 3.716 2),295 {3,847) {24,368) (18,777} (36,411) Permanent FDd?INiTreJlt F'unds Origina] Endo¥vtnent The Sir Geoffrev aThd iAdy ISOF Barnettscholarship Ptsnd (14,4391 995,135 523,019 J,532,?1)3 2,S17.?53 106,366 106,366 131,661 {26,476} 121i,4?6) (62,887) (14.439) (34807) 1,$98,OU 2,847,220 Enoent Funds Totsl Compratiie 2022 domthent Funds Balance at 31 Augurt 2021 Incojne Ewditure Investsnent$ gaits5/ BalaDLe at 31 A$t 2022 Elndable Endowmcnt Furld Geaffttv FlartnEwotth Trust -4uyistiJl¢ (:arnell fuDd RC.KSEI' 1,088,615 89,98i li4,+10 1,333,1110 26,)55 (13.218) 112,886) (20,608) (27,8481 {61.341 1,089, 69,377 126,217 1,284,660 3.225 (16,R181 Per¢¢ Endowment Fund$ Original Endowment 'fhe Sir Geoffrey and IAdy Is0[ Barnett S&olar5hip Fund 1,024,013 (14,4391 I,IY)9,574 523,019 523,019 552.79) S23,019 1.531593 2.817,253 1.024,013 2.3i7,Oi3 (14,4391 (Ila57) Endowment Funds Totsl (61,342) The oriE1n Pcrmanellt Elldowcd FuTrds comw a nutnlxr 0fwTtS Ufed by the knl. The Sir GtolFrei arld Lad). Igobel BarnettW0LsbiP Fund. 1Th¢ net )Tne of the Fund is to be applitd to stholarships, hur5arie3 or tnaintcnatstt allowancesto yrsoD5 whonca fLnaTrrial traicl gr4nts .rSonsts)asSi$t in thc furtherantt oftheir rducatio or othcrwlge fiirthering their education. Aknv Un9.11t iOme ift thc TreAr to tre.ated as exptodable e.ndoivment to be applied, at the dhWttioD o(the'l'rustre* as j)[ne in futhre ye4r8. The. EXndable ETLdo¥"thtntFuDds (x)mw.' . the. RCKsf:T FU whth cx)nsists oFbeyeEts for wzes., - the (Teoltrey Harmèworth'l'rust ¢u)ftsists of a le.g¥Y elyed for reiiefof hardthip. and . the AUgitine CarDcll Futtd to be ud¢d to wvidc tsTr"tl prrLfS ts) Sixth form p¥ilq. Lord Chad1.,¢0 aDd Henry Oldfidd rc3tyic¢ed fund8 are io ¥plied to dDlarShi and burwie8 lor UkThttian 8thdeDts re.¥eCtivelJ.

King's School, Ro¢he$ter pag¢ 32 NOTfftS TO THE FINANCIAL sfATFMENTS H)R THE YEAR ENDED 31 AUGUST 2023 16 FINANCIAL COTrtMITMENrs The. total nfthe future minimum lease pwents at the end year are: 2023 2022 Land and buildtngs tarjd and buildings Not later than l year iAter than l year aTHI not later than S years LAter S year8 131,012 131.012 211,624 1,731,667 1.711.667 1,924679 2,074,303 2021 2022 Capital commitrnentg at 31 August Approved and Cotstracted for 103,i(K 17 PENSION CoNTrIB[lONs 'rhe LY>mpany operates two pension s(kmes. both or"th woyide beJ)efits on a fina] pensionable sal. Teachers, Pcnsion Scheme The School partiapatts in the Teachers Pension Sdeme TPS) fnr its trathI[ staff. The pension charge for the ycar includes total employee and emplower Ix)ntribution8 pavable to I'PS of £ 7(A,242 {2022= £740,22 1> andat the yw-end £61.(.(Y7 {2022 £56,131) was aLyTha in resp of contionS to this kne. The TPS is an unfunded rnulti.employer def benefits pension sdxeme governed by Th Tead]ers' PensAons Rwlations 2010 {as amendd> and Tht Tths, Pension eme Reykntions 2014 (as amended). MeInl contribute on a 'pay as you . basis with COfttrikntioTLE frotn membets and employer being credited to thE Exthequer. Retirement 0r p¢nsion benefjts &e paid by publLC fid, provided by Parliament. The ernployer o)ntribution rate is set bv the Seoetary of State Followiwb£ *theme valuation3 undLrtaketL by the Government Actu,5 tkpartment. Th most reLt actua141 vauation d the TPS was prepared as at 31 March 2020 and the Valuation Report, was published in October 2023, Following the Mccloud judgement, reme& pwEed that when bet)efits kne plvable, eli&'ble members $el¢ct to receive them from eits t reformed or IacY sdjemes for the period l April 2015 to 31 March 2029 T actuaries haye a5ed that tnemks are likelv to dK)ose the option that woiidts with the gre•ter 1ftts, and In preparing the 2020 valuation ve valud the 'gre4ter Ue, luePits for groups of reieYan¢ Mernb. The valuation confirmed that emploi'er contribution rate for TPS would inLrea8e from 23.6QAo to 28.60/0 fro l April 2024. Ernployers also requLred to pay a 5(knt alstration levy of 0.08% yving a totAi eyloyer contribution rdte of 23.6899. Independent Schools, Pension Scheme (operated b)" ¢he Pensions Trust) Some SUPFK)rtandthinistr8tiYe staff are mc[[Lr4 defined benefit Ftn3ion &theme run by VeritYTnwtees Lllnited. Verity is the Trustee of Pcnsions Trust for CknAties and Voluntar}. Organisatsons; the nsIon eme has (X>e p¥toFThe Indewdent Sa13, PerLrion &theme {ISPS), a¥dme within tTrust. The employee rate ofcontribution in the year was 8.350/0, the Sthool's contribution Nas 10.950.. The ISPS 8dnie is a multi.emplover d&ined benefit cheme with guaranteed benefits for current and fonnv cmplovees of the Former s&¢me b&ged on 1180th of fml alary.

Klng's SchooL Rochester NOTES TO THE FINANCL4L STATEiEY15 H)R THE YE4R ENDED 31 AUGUST 2023 page 33 17 PENSION CONThIBirrioNS (continued) Independent Schools, Pension Scheme <0rated bv the. Pensions Trust) (continued) The School would hake a liabth.ty if it ceased to partiapate in the ISPS MILith at 30 Septrmber 2021 was cal1ted as £2,(W,480. Ile nextNaluation i¥due at 30 September 2024. As the S&ool currently hos no plan8 to leave th¢ stheme, this contingent liabiliti. has been provided for in acr(AJnts-, and as tke ACtuY is le to identif) its sh&c OF the underl!ing assets and liabdities at 31 Auyt ?0"!3, theme kn been a0UNIted (or as a defined LYTrntribution sLthcme a5 rmItted bi. FRS102 and contributions are ace(MJnted for wheJJ due. Any yccd pension defieii funding payments are pro%'ided For on a dj'swuntd basis. The kne is subject to the funding legislation ouditted in Pensions Act 4004 whith c4me into (Drce on 30 December 2(X)5. This, totIr with doomjents ssqued by the Pensions Relatr and Ted)nid Actuaria Standards is¥ued bi. the FitLana Reporting Counul, sct out framtThork for fijnding defin benefit OLfLtptional pension schemes in the UK. The schtm¢ is ciasgified as a 'last-man ztsn&'ng arrangement,. Therefore company 18 WtrntiaY liabl¢ for other wtieipating cinplo?tr.-' obligatLons if thoy cn]plo}ers •re le to meet their thare of the schcmc deFiat following thdraw'al from the 5drne. Partscipting cmplvyer5 legally required to ffltet their share of tht xhemc de&cit' OD an annuity purchase basis on withdrawal fiom the se. .1 Eull actuarial valiiation for the sd*me was carried out at 30 September 4020. This ialuation ftWed assets of 4201.Im, liabLlitie8 of £2b6.3n] and a dtficit of £55.2m. 'l-o eliminats this fuTrding shortfall, the I'rustee asked the participating emplol'ers to pay ad&tiODal contrilxjtions ro the theme a6 follows.. Deficit contributions From I Seplember 2023 tD 30 June 2032 ,687,(KM) per annum (pa)?ble monthl) and intrea8ing hy 3rtPo each on Isi kptember} 'rht plan contribut10115 art allocdtd to eath ]Wtiat1ng emplow in ]ine with their egtim•trd share of sdjeme liabth'tic¥. Where the sat isin defititand where cOMp) I$ weed io a defiatfiJnatngarrwn]ent the school recogii a liabiliti for this oblig.ation. The aniount recfpgni8d i% the net weseJJt ialut of the defiat reduction coniributions pavablc under the ateMent that rcktes to the defiat. The prc.Eent ye is calTrted using the. discoutLt rate dctail in these disclosures. The unwinding uf discxx]nl rdte is rwsed a finan c05t. The annuai aM(t due b¥ the x&ool frojn I PteMber 2023 to 30 June 2032 LS1,(KXI (payable monthly and Lntreasing by 4Yo ead] on 1st Septetnber). 2022 123 Recoyjciliation ofvpening and c105ing wo¥1(?8. Prov10 at stsrt OE rI Unwin&ng of discount factor (interest ex} DtfiLut contribution pd Remea8urements ..inipact of any dtsDge in assumptions Remea3urtments.. amendment to wntributio xkdiilt 453 18 (51) (23) 472 (51) (751 102 Provision at eDd of peri(xl 397 453 Split follow: Due within one jear Due ter one Far 51 146 50 403 397 453

King's S¢hooL Rochestsr page 34 NOTES TO THE FINANCIAL sfATLMENTS K)R THE YEAR ENDED 31 AUGUST 2023 17 PENSION CONTRIBUTIONS (<'.ontinud) Indepcndent Schools, Pension Scheme (opcratcd by the Pensions Trust) (ctsn¢inued) AumErIONs 31 AUst 2023 5.79 31 August 2022 4.31 31 August 2021 Rate ofdi3count_ O/y nnum The &'3count rates shown above are eqtsivaient single dixount rate8 whi&, used to discount the future re(x)v¢ry plan contributions due, wvuia tkn Same ruults a5 using a full AA Lwate boTJd yield Lurwe to disLDunt the samerewvery plaft contributions. The company must rewtse a knbility measured as the pre8cnt value of contribution5 pavable dwt arise the delLCit rewvery agreement and the re6uiting in thr InMe and exdItre Account i.e. unwinth'ng of the discount rate a finance cY)st in in wknch it arists. li is tiOnS that }Mvelen used to derive the mpany's balance sheet liability. 18 CONNEcfFD CHARrriES Under a 8dLetLl¢ approyed by the Charity ComtniysioD on 16 November 21XK), the end0ent funds in known a8 R(heSter C.&thedral Grammar w¥re retained in the charitv under tht newname'Rochestcr Cath¢.dra] Kings ,h0o[ Endowment Tt, and the non-Endowmettt Funds were transferred th Kings khool Roche8ter. The hool is the trustee of the Endowrynent Trust. The terrns ofthe Scheme stspulate prOrtIc3 and lnitn)ents itx the Endowmeni Trust are held for the benefit of King's thol Rith$t¢r. ACcOrdg1yI no rcnt Is dLirged bj the Endov¥inent Tru?t to the SLh¢hol wknle the Schuol uDdertakes to maintain and Manage the atS of the Endwent Truit. Uniling Directions knve kn i&fjued b¥ the cFltiS Commi&¥ion allowing the LDmbination of firkcIal information for King's Sdjwl RtiLhtsttr, Rc*he8ter Cathedral Kin ': knl EndoThment Tr[ ('RC.KSET'I and the Geoffre). Harrnaworth chItable. Trust. 19 REIATED PARTY TRANSAcfIoNS There are no related party tranBxtions to 0C in the (wrent or prAor year other than those dtsdosed in note 6.

Kitig's SehooL Rochester NOTES TO THE HNANCIAL STATLMENlS foR THE YEAR ENDED 31 AUGUST 2023 pa8e 35 20 STATE.MENT OF FIh'.4NCJAL AcrIvrriE8 FOR THE YEAR ENDED 31 AUGUST 2022 Unrestrirted Fun ReEtri(ted Fthdowed FutLd6 Fthbdg Total 2022 INCOME AND ENDOIV.KEN15 FROM: Income from charitable activitie School fee$ reteiyable Other educational income Other trading actlVAtLes Rent and comrThible Tradin income Ini'e8tJn¢Dt income Donations and grants l£gacie$ Total lacome 9.734,887 123.075 9,734087 121,1775 122.T)6 350,8 ?6,528 31,741 11,566 134,362 350,Y)8 44,712 31,771 S23,019 10,942.824 18,184 30 5fj3.oly 552,799 lo,3,025 EXPE.NDII'URE OIY: Costs of raising fund8 Trading expenstS Charitahle activities - FAuration 412,558 412,558 5,TrMi,779 1,rf>67,745 71Q.657 ,549,385 5,9ffj779 1,685,053 710,6S7 ,549,385 21,013 9,912,887 l¢J,325,445 17,308 IYelhr¢ - Supprt of scbooling - Grants, awards and prc8 Total cljaritable exnditute Total eXnditre 13,949 Q 881,630 10294,188 31,257 Net incorne/(expenditure) brfore InTrrstment gain$ Nt.t inve5tmÈ.rJt gaitL Y5,837 {S.1681 ,(A9 521,542 {61,342) 617J?9 6510 550WI9 NET MOI'E,M&WT IN FUNDS Reconciliation of fund5 nd balaDtt.< 41 I septr.mber 2021 FUND BALANCES AT 31 AUGUST 2022 I1.388, 6,920 2..157.053 13,752,682 11,479.178 920 1817,2SI 14,J03,5SI