2023-03-31-accounts

OopJn Enb)pe ID.. D0É94O4C-2C624FBW￿1Al1091cCE40 Company registration number: 04205579 Charity number. 1090412 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 LONDON GRID FOR LEARNING TRUST "ACIZVIW4• 2311W2023 COMPANIES HOUSE

164

MENZIES BRIGHTER THINKING

tknryJSvJn Envebpe ID.. OOE9404C4W4FB&833&1A11D91CCE40 LONDON GRID FOR LEARNING TRUST CONTENTS Page Referen￿ and adrnlnlstrawve det ofth¢ ¢ompany, Its T￿￿1￿ and athisws Trustees. report 2-23 Independ•nt￿jItord. ￿POrt on the finartial $tat•m•Dts 24-27 Consolidatqd statement of fin•neial acliviti85 28 CorffjolSdat•d bAlan¢• $lw•t 29-30 31-32 consolidat￿ $tat•ment of cash flo 33 Not•s to tho financial ststemw 34-S2

DO￿$￿jn ID.. ODE9101C-2C624FB4-B33&1A11D91CCE40 LONDON GRID FOR LEARNING TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Mr P RrAlin￿n Mr G HiptAe Ms J Mcshwry MrN Mrfthe Ms H Wamer Mr S Green C¢)fflpany ¥•gisteved number 04205579 Charlty r¢gl¥ior8d nurnb•r 109)412 Regi$tsred oifi¢e 9th Fk)or 10 Exchange Squa London ECZ4 28R Mr J Jacson CNef executive officer Mi J &Kson Independent auditors Menzies LLP Magna Hw5e 1&32 Londorb Road TW1848P Èankers Lkjyds Bank F1c 83 Clarence Streel Kingston upw Thames Sutyey KT1 1RE Solicitors Ashfords LLP 1 New Fetter L¥1 Lond( EC4A 1AN age

tlowS¥n Envdwe ID.. DDE94W2C624FB&833&1A11D91CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 CHAIRMAN'S TATE 22- 2023 Look￿9 bxk ovef Ihe year one is Struck by the of the Ch￿9 an of us have wb)essed. The nation's longest ser¥ing mnarth. QLen Elkabeth 11 passed away and was s￿ceeded by her Sc￿, King Charles 111. There were no les than 3 Prime Ministers we of vthom became the countys shortest serving. Predith"ons aboui ch'mate change appeared to be vindicated by the increasingty extreme weather eXpwIe￿d auoss the 9bbè and the OPFQrtunities threats P05ed by AJ were articulaled h)u¢Jy. Tensiws and in every Clxner ofthe tAorfd erupled. In comparison, the Trust thtyjgh busy has seeme(J an epitome of calm Ond continuty. The CEO'S Statement artI￿lateS some of the 5ucces5es and highfights of 2022-23 but the 9pneral wdure 15 one of consdKlation and sustainable wowth. Wth schoo15 51111 recoverirg frc¢n Ihe slM>ck of Cov•J the T￿￿ has focussed on strenglhening rts offer to Ihe educatKin ctor, worknng on delNery and planntng with our parfners to greater re￿IenCe into Ihe systern. The Impact of inflation followiTh9 on from disrupbon in tethnc4ogy suppty chains has also needed to be nav￿ated. As a tharity the shteldtng of thools and thklren from the worst affects of these penls was a key rnissR￿ for tho Trust. R￿ls￿ng Inu￿$1ng broadband prices unlthe rThJch ol the rest of Ihe sector ts a notatle athievement. The turtrtdenee that appears to have ￿9￿led the may tdrt kn be a rnirage vthen seen through a historical lens. I am c￿fident however, that the groundwc4k undertaken by LGIL durir*J the last 12 months w41 pmve to be real providing a lasling foundat￿n ￿ whKh we til￿￿J an even ar￿ resilient Set of services lor sthods and countils. Paul Roblnson Chalmian. London Grfd lor Leamln9 Tnjst Pag¢ 2

Ob￿s￿n ETh￿npe ID.. DOE9414C-2C624FB4B338-1A11D91CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 0 STATEMENT 2022- 2023 It was an wthnniry year like no other. LGIL won tre ERA O￿tand¥￿ Athievement Award In Ed[￿th"On. along r other awards. for the leaderS￿p shwn durin9 COVID19. LGIL won p￿sti91¢}￿S BETh Awards including the award Ihe Wtllbeing, 0￿￿tal Vvellness & Safeguardry Resource lor TIKJ Far and the IT Supporl or9anisth.on of the yeaf. LGfL C￿bnUed to exparJ and cemenl lis rJedenti as a natiLwI provider of di9iW and conned1￿ty semces to sthool$. LGfL has more schoc4s hameswg its ne￿k than at any time in its hislory incJding an estimated 1.8 million children and teaehers. LGIL'S unc￿1e￿jed arh4 Secu￿ filye netsvork cont￿￿$ to evolve at pace to rellect the move to cloud CQry4)uIwig. LGIL'$ avèrage nettvth speeds n)se once •Jain ith 778 sdw)ols r•ceNing a free ban¢lwth boost as part of an iniliat>ve called Ihe Broadband Bonanza. Colaboratk)n and partnership work￿9 continued at pxe. LGIL sucCes￿lY pwtner¢d the Natronal Cyber Se¢wity Centre lo audrt schools IT seaty highlighted the security ¢haYervJes faung schools. Close 10 900 $th￿l5 partiopated in the survey tthich makes rt the largest of its kn"nd. ever Und￿￿￿en ￿ schools. LGIL launched freè nakn.onal sèfeguarding and t)JrrrJJum res￿JTCes I￿UdIng Safesklls which aims to inyov8 tyber setr- awarenes5 arnong chiklren as well as a pad( of reSLwf￿S that enable sthoo15 to cornpty with the saleguarthng demands of an Ofsted inspection. Given Ihe finanoal pressures facing sch(th. l am proud thal LGIL has nol in￿eased tts broadband prices Since 2016 and we a￿ committed to no pn￿$ hthes in the fxbming finan¢4al year whth is hel￿r￿j lo shield schools trc¥n the broader economic shocks that a￿ impaL"ng ihe UK Economy. A core for LGIL remains saving xhools more money through cash#ble Sa￿n9$. cost aVo￿an￿ ￿ bn"w"n9 th) add￿Onal lunds that exceed the cosl of the broadband ¢l￿ne¢t￿lfts delivered lo sth0015. As in wev1￿5 yeaws. LGfL has de%vered on this cornmitrn￿t. The total fvnding identffied by LGIL'S free sch￿1 rneals eltgiblty cheLer ￿nce 2014 15 £185 M with nearfy £50 M idents.fied Ihis year. LGfL enhanced cyber5e￿[lty. safeguarthn9 and dassroDm wactKe ty defvwirwj ￿ ests'mated 12 mli ion free lieenees to schocls saving schools rrKJre than £6M per annum. Irs been a wonderhA and awar&*inning year for LGfL and th• •ducation commuimty we a￿ to serve. I'd like to thank the Tnjstees. schools, MATS. DvJrtal Transformab"Lm Partner5 and the LGIL Team for their tremendous 5UPPOrt and efforts over the last year. T¢>J8ther. wè a¥• dehvernw Ihe platfwm to supwt dwital adopts.on in education. John Jackson CEO. London Grhd lorL•arnlng Tnot P¥gr3

Do￿S￿n Erwek)pe ID.. DDE94O4G2C624F￿￿lA1lD9ICCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 LGIL was found¢d in 2LK11 tts advan￿ educM. in parbalar by prowding and assistiry n) the provis)n of infomiation and Communi￿110n$ lethnclogy to schoots for the benefft ofthe thibaren att•Trthng th05• sehL¥Jls. In 2019r20. our sharelth approved a of LGfL's Obied5. frllcwing apwoval by the ch￿1t￿5 Commission'.- to advance health by a5￿$ting in Ihe pws•)n of br￿1band •)d other cLYMiuntations tecthology to allry inl¢9rat¢d serwces betren •Jthoribes and health authffts pro¥k8Kffl of and olher Ca￿,. and to advance communty tJevdoprrnt by asSiS￿n9 local aulPbJiitse5 to integrnte servic•s thr¢yJ9h broadband and other JMm￿l¢4￿ons technoh)gy to provide seTh￿s mre effiuenty and at Icrwer tost to the ￿c￿entS ol Se￿1¢￿$ partxulatfy the elderfy. vuhrnbk ￿d￿ndual$ the disabkd. LGfL'5 revised ObJe(Xs enabl¢ it lo wo¥ide Sen￿￿$ to a whje ran9e of benefviaries induding 6chwL8. Muhi A¢adÈmy Trusts, Counals, Health serv￿￿. the Pikne. H￿51￿ and CommLmty Services. RIORITIES LGIL delwèrs ils Obieths by f0tsj￿tsj on".- Savin9 sthods rnoney Ener9ising texhing and leamry Keeping rildren safe Tackling inequality and Promokn"TrJ welbng. ACTMTIES In furlher?n￿ of our Obiert¥. LGtL'.- Provkles ligh sFed aThl secure en￿Mp&S￿r￿j Th￿ble and fixed telecommuThcations links.. Delivers a rnnge of educats)nalty focJJsed digta swvicts S￿nir￿j Ofberseumity. safeguarding, tsachir¥J and cutyicvlum Ser¥￿t$ a$ wdl as do￿1 seryKes'. CoM￿SSIonS services from partners.. c￿)perate$ and Suppc￿ts s¢￿15. academs and ￿)￿e9¢S of fut1her educatioTh. other charities, Voluntary bod￿$ and statutory authontses.. operkn.ng in ffftrance of th? Objects or simlai charrtabte purposes and assling them to exchaNJe infomia"¢n and advicè.. ProDJres and enter¥ irrto contracts to Pr￿de servw to. or behalfof other bodies. establi$he$ or acquires ¥ubsidiary undertaknngs. and estst4ishes or takes part in IOTnt pfoujrements. ventures aThJ undertakirgs,. Sets aside funds for speoa w￿lse$ ilh a to me¢tirwJ IW o)mrThtmnt$ or ￿L￿rtments,. Shares safeguarding arKI cyberwryxity best praclices ￿ lems of onfine sty as well as working wilh 5tak8holdors to train and equip s¢od aff with the tthokvjies human experttse that best keep ¢hiklren s and schools Se￿re,. and Provides hig1￿qUalfy ContiThJou$ PrOfesS￿nal Development ICPD} for sthcd staff that foster5 the Fnn¢)vatNe use of ¢uilinydge technobJgi8s in th8 d9$5rwm and ¢cthF4ements teachry & learn￿9 best Pract￿e. Page 4

Docu&"gn EnvdDpe ID.. DLE94o4G2C624F84-B￿lA1 ID91CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 STRATEGIC REPORT This year, LGIL won orwas slKrflsted number ( wbjusty wrds fft re￿nIl￿n ¢fLGIL's ￿SI￿Se to COVID •nd the progress made to inyove swvice$ ¢0 sch)ols and Education ge￿rally. Those ward$ indLth.' Oulstand¢ng Athieyeffl￿ Awwd in Ed￿aI￿Jn {ERA Award Wirw) SUppl￿r of the Year (ERA Award Wmner) Free Educational Resources LGfL wtth CNd Be￿ave￿￿nI UK (ERA Award Winner) Primary Resource or Eqwment- ICT in partnership tmth Ohtty)t Lld IERA Awards- HWJNY Comrnènded) Technical or IT Support SeNice ofthe Year (BETh Awd Wrffterl Welltfjing. Digital Wellness & Saleguarding Res¢yJrces t•thh the L)epath)ent for EducatKJn (BETh Award Winner) Company of the Year18Err Award- Shorllistedl IT Suryort SeTh￿8 Prov&ler of the Year {BETT- StK)rtlk%ied) Safety and Secunty Company r)fthe Year (Education T(￿aY-w￿ntt) LGIL has continued to inmse Is atyoss England on new sd￿$ and MLkn' Academy Twsts in the H Counties, Ihe Midlands and the Northwe￿ thereby cenwrtin9 its pogbon a$ a naiional wovider of se￿l¢e5 to schools. Thg CO￿ Mutti Academy Trust was a key acquisiDCffj in the prewous financial year and that partnershtp has gr£xvn substsntialty. As wdl as gromng, LGIL continues lo eny)y very hwJh levels ol retentKJn ¥￿th very few cu$tomers leavin9. Continued gro￿ means that LGIL is one ofthe large51 w￿lderS ol connectryty io sthools in the UK. The impad of LG￿ ¥thool¥ and m￿tI Acadwny Twsts ¢4xikn"rths to grry wilh inceasing levels of consumplion of LGfL'$ bundled pfodu¢ts. LGIL'S ntknrk and assttiated supptrl of thildren. te¥lws aThJ puwc seclor workers ￿erydaY pulbng thtr C4ynpany at the heart of efforts to than￿ ethcalKJn bth in Ihe UK ¥TrJ beyoThJ. Suc¢es$fvl partnefships and collaborati¢)ns remain a uxnwstone d LGfL's DNA wrth over 1LXJ companies enrolled as Di9itsl Transformathm Parlners to wpport sthod5 wth thw tethrK40gy red5 arvj ensure that th￿Ver possible Ihe best use is made of LGIL resources ond conne(at¥ity. Partnerships wth Child Bereavement UK aNJ colaboralion ￿th LEO Aeademy Trltst have been recognised In the Mark￿ as award winning best praCts"￿. A substantial number of ¢ase sttyjies have been devdoped Ihat are publi available on our website aThl social metha thannels. At the heart of LGIL'S tethiolts3y PWVi5ion Is a Tworld dass De￿. Buth almost exdL¢5ivety on syMrnetric￿. ￿￿nteThIed fibre. LGIL delivers aknosl infwwte capacity $0 that exc￿"ng and engaging leaming opportunities are available for thiklren- both now and into the ftjlvre. LGIL's Sca￿ mean$ that it Secures Very ¢￿npet￿Ive pricing from rts suppty chaiTh enabling LGfL to delivef ¥aue fcrf rnoney and cfjns#Yerat4e cost sayrys to all ts berkns. patlrjj￿rLY 5th¢d$ and Multi Academy Trusts. LGIL prov￿$ • nwnbtr of pan LoThJon and regional ser¥ices aknngshle a hider public sector spamirvj local 9ovemment, health and the police ￿lch enable efficienl and DJStoffecve servte delwery. Those services indude the Pan London Admissions Seryice, the London Publ￿ SeThKes Netwryk (Induding gateways lo H¢atth) th# Ff•e sch￿1. Mea15 Eli9itilty Chedter. LGIL'S kJn9 tenn success h8s nece￿itated a tran5fornwkn of the organisatTh underpinned by a modemisation of IT systems. continuing sYoce$s redeswjn and automaiw as well as adtAialing a rrw)dem. fi0xR￿9 workforce. LGtL'$ bu5ine5s model is evol¥w)g wth a on the devekyn￿l ￿ Inlellectual Property and a c4)ntinuing transition from servi￿ CornmissKmer to Service P￿der. T￿$ tharye in business model enable tsdored and I￿￿￿)st seryi¢e delivery to scthools rnther than be￿9 restrith to bery a reseller of St￿￿rd products and servrM. In an unrRrlain wor￿. LGtL'5 xFty to ￿entify and manage risk is ¢yiiical. kn￿d, ttrN)ughiful mibgalicffi has been a svJnfficant o)ntribiiW factor to ils success akJvJ with an alxlty to i¥ke measured risk$ when the siluation demanfled it, as was the case during the global pandemic. P•ge 5

D￿&￿￿ Envdcye ID.. DOE9404C-2C624Fe4B3W1A11091CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 EY NCE EASURES The trfeadth and depth of LGfL's w¢xk is Ihe table bekw.- Outcorne World Class Connectivi Estimated Dail Reach of LGIL Servi￿$ to Chddren Teather5 and Su Schools U raded as Part of Pled e 2020 Schools ReceI￿n a Free Bandwidth U rade FYE 23 Total Free Bandwdlh Del'vered to Schools as art of the 8athiLIth gonanza Standard Connection S eed of SerA)nda Schools to the Intemet FYE 23 Standard Conne￿40n S eed of Pnma Sehools to the Iniemet FYE 23 Avera e connecti￿ S ed of S eoal Sthods lo Intemet FYE 23 Resilience Percenta e Avalabil. Brid ¢ The Divide New La to s DelNered to Sthools since eommencement of #Brid eTheDivide Estimated Number of La Enabled Ifx R Free School Meats il Prernium Fundin entthed fDr Sthoc4s Pupil Pren¥um Funding identsfied Sift￿ the incepb.on of the Pupil Eligbi ilty Checker in Iton to 31 March 2023 Continuous Prcfe$$ional De¥l¢ Trainin Events Oelè atts Attendin A li￿tiOnS for School Places A lic2bons for Seconda School pl￿e$ Prc¢essed lications for Rece Total Number of Applications Processed Platss (all phases) 17 177 for nurse unior and 14-19 Smartb - val￿ for Mon Eslimaled Li¢ences & Servi￿$ Free Distributed to Schools Estimaled Savi lAddit￿nal Vatue to SCI￿ls Per Annum B March 31 2023 staff 1.8 million 778 86 400 Mb 1Gb 100- 500 Mb 100- 300 Mb FYE 23 ofthe LG1LC￿e Nthrk 11JOY• 30 000- 40 000 £49 T55 58S £185 24S 065 mnt CPD 245 109 637 107 697 1.2M O¥er£6 Poge 6

D￿S￿jn E￿¢ve ID.. ODE￿04¢￿C62￿FB￿￿1AI1Dg1CCs4O LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 MON The econc#))ic thAh)ok remains ¥(lab￿ thlengwLg vthtn the UK aThJ gbbaly. Int¥¢5t ratès ar• risin9, and energy ¥sts ￿ntinue to be amonyst the h￿Thest e¥er. has led to unFffedthble ￿$18 WKI intsb'onary ptsssurès impacting cijrnpanies in the UK ￿Qbally. LGIL, as a not-for.yofit Charitable TnBt. has a key rc4e to F4y in shielthng S￿￿15 and other Customers from financ4al pres5ure5 by leveraging its aggregated bu￿"n9 F¥Jver on behaf of thwsands of schools. In doing so. s¢h¢)ols' benefrt from Ihe ec¢wnMes of scale that each pr￿ern￿nI ￿4)9$. LGfL delivers ffinancial benefts to sthx45 in sevtwal ways:. LGIL has elected not to Thxease t￿0a(l)and prw 2016. Tr Bo¥d r¢m•n$ eommitied to holthng prlces over the next finanoal year, LGIL b￿dIeS a Thjmber of koy Fthrds its trrtoadband conneth¢)n to add value to its s￿)￿rI[￿On Wv￿. Bundled item$ indude ransomware prot8L¢)n, anI￿VIrus, ODOS. ckjud backup as well as dassroom resOU￿e$. If these Products were bO￿t in isolation by indN•Jual sthods. even MATS. they would eosl a lot more money. Over the cL)wse ofthis finanfial year. LGIL di$tribuled an e$tirnated 12 mdlbjn licerKes freety to Sc￿015 Worth apprtsx1male￿ £6M per annum. LG1L encourages sthools to consume the bund￿ prtyjuds and make savws throu￿ its online Sa￿n98 C8lculak Ihttps'.Ilsavings.Igfl.netl enaLAe5 Headteathers to assess usage of freely availatrAe products and ensure OPp￿tunI1S lo ¥ave or¢ rwjl missed. LGfL spot purchases ￿r9e vdume$ ofproducts for s directy IQ 5choots. Buying at scate meaffls that LGfL's sellin9 "ce is gener￿ty m￿h l(Fwer than ¢cryarable rna￿et rales. Br￿9eThe0￿lde is an example of how LGfL wocured large nurnber ol laptops at highty discounted pw and was atle to resel them to schoo15 at a nwJch lower pnce than would have been p)ssit4e through other d￿nnels. LGIL delNer¥ free or cost ban¢￿Id1h wJrades to SCI￿$ as ￿ of its eroadband Bonanza Ihal WOLld ordin¥ily cost thwsand5 of ￿￿￿8. TIMS yeariouThJ 778 UFgrades have been de&ve￿d free. LV at very low cosL to sthoc4s', LGIL hosts training and CPD opwtuniis that are tree for school$. Such athons als)w scIK)ols to keep pace vthh tethnobgy needs {e.g. itweased bathdth consumplionl al addliK￿al cost. ARMOUR PLATED CONNECTMTY FOR SCHOO LGIL was established to defNer broadband vithwi the London reg￿￿. TDJay. the Trusl is moving doser to a position vthere the ma1¢￿ty of custorners are othsmje of L(rfhJon underfiNryJ LGfL'6 posilion a$ a ￿tiOnal wov7der of conneth"vity. LGfL's netr￿rk has b¢én •rwJinèèrtd for Imgh r8lAblrty and sp#•d. Ovw 99% of LGIL'S fA4Stomers are connecied using symmetrical leased h'ne ffibre with dats se￿red end to end throuth a natbor￿ IPVPN Ser￿e. Neknk performance 18 Kjnitorod rigomudy for packet k)ss. ￿ter￿. round trip delay and carcuit tsppirKJ. HI91￿￿a￿ty leased lines delr4er chLklren an inmersNe expenence on4ine at)d enalth schools to stream H¥h Dthition (HD} and 4K i>)nlenl al rnassive inlo Ihe dassro￿l. The IPVPN delivers addit￿1 swJnty for schc#)Is by encJyptiro all traffic and thre¢l¥ry it 1hro￿h LGfL's core network wh￿h enswes thal Ihe and othnd wrtemel Iraffic is ffthrtowed by ￿￿$t$, ha¢tng actNity and data e¥fthation. LGfL hès firewan management systems thal enat4e oversight of intwnd and outbound Iraft as well as delNering eligenc¥ a¥ to %thich port5 are being u58d. This enable5 LGIL to manage netwth Iraffic and lake Steps, where In 2018 LGIL anlitrpated the move to Cltyjd Conwting by SCI￿$ and the consequent need for much 9realer capauty and security. To address these thanging needs, LG1L eslablishtd a pwam)e to transform broadband speeds to schools called Pledge 2020. Page 7

Oc4)J&gn Enl(p ID." DOE9404&2C624FB4É33&1A11D91CCEIO LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The s￿sequent roll¢xrt of updated connecbwty and F4aUorns rJ)nwnenced in April 2019 ¥ThJ the programme was ¢cmF4eted by De¢￿ber 2020. Ove¥ Ihe uyJrse of Pledge 2020. nearti 25C(J Sc￿$ were up9raded and the average bandwKllh to schools more Ihan dout4ed. In many case5. 5thorAs re￿Ned upgrades thal restheLI in speeds iising as much as 500%. LGIL has ¢￿￿1Ve4 to invest in the fijture of xknrrA$' ￿nectivIty initHIAfe called Ihe Barthidth Bonanza. Under thi5 WlltiatNe LGfL is ¢dNerir¥J fvrther ir¥xases in connectivity speeds at no addilnnal costs to schools. 778 schools have beneffitted from the wogramme over Ihe course of thi5 year. These utgrades mean that LGIL schools remain 81 the forefront ol broadband a)d th"grtal services pro￿$10n. LGfL reeognises Ihe need to innovate ar¥J provide grealerfflexi￿.1rty to scho(4s. New sohjtions a￿ being offered, for the first bmè lo sthcty)Is, IKqme¥sry Software ￿fine￿ NeI￿￿'n9 as well as sateTrte iJrovisKn. RESIUENCE AND KEEHNGTHE UGHTS ON Investments have been made ow ihe course of the finanual ye¥ to wsure the g)nlinugd reSat4¢ opgration of LGfL's platFom)s to #)uease reslnce. capatity and reb.ats"￿Y. A key thange was Ihe rdhxrt of an enh￿Ced neivmrkng has enabkd intemet bound traffic to reroute acr05$ rndliple link$ in thg event there 1$ a failure in the Nalional Netsvo Continuing upgrades ha¥e been made to the LGfL datacerrtre5. These investmenls have ensur8d Ihat ar designed for high reliat41ty and avala￿"￿ty. k)ad bncl￿d le￿￿1(#3Y has been addgd lo manage traffi¢ fltsws in anbcipation of bringing SdthlPr19 Pandem￿ #BridgeTrDivide indLwJ8d 8 national oojrement of laptops on behaNofal sth)ols ah)ThJ with ac¢oThwng c¢￿figUr81￿￿ and distribution semcès. Through the aggregathon of it5 bUY￿g power. LGIL wa5 atle to source compulers at very c(npetrtwe pr￿$ and pass those savinys on to schools. This irnrnediatety led to a reduclityi in costs of dewces in the market and schools were able ¢0 buk W￿ha￿e for thddren * tevels that woukl otherwise have been imposslè for them

BridgeTheDi¥tde has been well receNed by schools arKI there are a wmber of case from 5choo15. MATS and Local

Authonties commented on Ihe pO￿￿"Ve wnpact the Fryrarnme had on thild￿n and theff progr95$ during the pandemic. This induded 50rne of the most deprived areas in Ihe UK Inc￿¥￿ Wajlham Forest and Tower Hamlets. The latter workn'n9 with LGIL on not owty diributiTrg ¢qUlF￿ent 8150 cffi wthdding into Ihe Curli￿luM {see hilps'.Iledte¢hlh.Wl.net} LG￿ has continued to provide kiw-COSt devKes to s(ocls and Iwlces to de￿￿5 during this financial year. By March 2023. LGIL estimates that #BI￿eTheD￿"<jÈ has ddtyered over 2CQ.iXX) new and recycled deviees to schoo￿. Hth¥ever, this is the last of#BiidgeTheDMde Ihe programme ¥MI be the nexl finan¢i?l year as LGfL rèfocuse5 its resources and into Ihe conti￿1r9 irnprs)vement of its e￿$ting ￿#110￿$. Page 8

En￿K7￿ ID.. DDE940IC4C624FB4-B3￿1AIl0o1CcE4o LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 CYBERSECUF Globally, irKreasing tensions and Xis b¢h¥eèn c￿1?$. 0ts luèl1iNJ a challwing c¥imate and adding to the range of Threat Actors that already existed. Cybersecurity threats and risks we ¢)n the rise: a nwnbw of sthocls and Muki Arademy Twu5ts have been victim8 of ransomware attac$ have Fyoven c05ty aThJ Very disruptive. LGIL has integrated muliiple layers of S￿rity into it5 conne￿i￿n lo $d￿s. A5 8 resuh, LGIL has a Un￿￿, mumi layered, delensive shield that protects thihyren. LGtL's defences I￿je fillered intemet acc￿, an1￿￿rUS, ransomware countemeasures. thud backup. firwals. DDOS woledion, $wj￿ email ser¥ice5 as 85 fflonitoring a Security Operations Centre ISOCI. This mutti layeretl defensive $Y￿eM is called CyberCh)ud. LGL wovides be81 praCb￿ p)ky and secjjrity 5chcds fftcknJMig delivery of the offiryal Natyonal Cyber Securi¢y Centr8 INCSCI traIr￿rg ts ¥hcds. [￿S best wa¢lice toc4kns. 5eminaw5 ntrwsbette￿. 8evate IhttpS."Ilelevate.￿.fte¢1 is a ￿leCtIon of key reswrces that schools can u5È tts evate their ¢yber5eevrity indudiny a Cytserseojrity Pdicy. an Inodent Response Plan aTrJ AsseVRJsk Regi5ter& As such, Ekvate caTr be used as a foundation for s¢hoots that want to attain Cyber Essentials CpJbficakn. In 2022, LGfL added the Se¢JJnty scoreca￿ F4atlomi ffito rts pthlftS0 of services al no cosl pilher to an LGtL school or any other school natiC￿allY. This platform pBrforms a M￿l￿diMensiOnal assessment of key indvtors Ihen are collated to provide an aggregate scw. The higher Ihe 5COTe. the More seDJre the scl¥)￿ k8. AbD9side the score, schoc4s are alsc• given a vi$uali$8tion of those risks 85 well as a re[￿. Hundreds of schools ran the Securty Scorecard F4atfom over the cgwrse of the year helwn9 thern to •Jentify weakne5se5 and trttherabilibes. LGIL has invesied to incyease ils capauty tech1￿ Capabiltw to support schools and partners ak)ngside the technology countermeasures and ¢onlenl initiatNes bjenth.fied above. This indudes LGfL bee¢ming an acuedited Manèged Service Partn8r IMSPI for platfOrn￿ inchjding Soph)s and Ma￿￿tsYle$. Tojay. LGIL oversees the security of hundred5 of thousands of devicÈs i) its managed service P￿ts15. LGfL enkrged its Cybetse¢JJnty Team in 2023 •)d ts twMleThng rts rde to support s(ools proxtivety recognise security threats and take sooner lo address Ihem. Further staff vrill be reuuited the next f•iarKsal year. Remediating Cyberse￿nty risks requlres rThJMi agency ec4aborat)n. LGIL partnets ¥vith key a9enoes inC￿lThY the National Cyber Seojrity cent￿ to Promote best pwDces and an audri of schoo15' setsjrity risks has been undertsken this year to refresh and update Ihe first stu¢Jy w￿rtakeTr in 2019. Nearty 9C#) schr￿5 part￿Pated in an tr Securty Audit dthered in partrwship wilh Ihe National Cybersewrity Centre. The r8spons• is almosl dout4e the tssi autht and fesLAts are freety available on LGIL'S website at https'.lagfl.neVsefAMitylse¢untyawJit SAFEGUARDING CHILOREN Online safety remains a critical fr￿5 for LGIL wth over 1.8 mil￿Ort th￿reft, teaLrs and suFport staff hawng access to the inlemet every day. Inter￿t filering is a comF48x urthrt0￿rrfJ as pro¥Klers seek to prevent fltin9 and lock out sysiems that categorise the content. Filteiing at LGfL's ￿le is an eno￿￿u5 challenge T*nlh 30,IM)O dea￿nS taken every rismrte on W￿1her content ks approwale tc¢ ¥w. LGfL has invested further in Ihe nK4Jemisation of its Iltwing s8rvKe indJthng a com￿ete overhaul of the underiwr infrastructure in order to inrJease c8pa¢ity WKI to pmable rRw features indudir9 SSL fittering, by defoult, should sehools have Ihis reqwrgment. Other leaiures incljde improved inlegration wilh CkM￿ F4aiforrn5 s￿h as GOO9￿ to ensure gM)ular. per-u5er filtering to help keep d)ddren safe but avo￿ ￿eIb￿XkirvJ. A ffilterirwJ Flaffonn. called SthcdProte¢l. was built and ￿yn¢h¢d in 2023. Page 9

DoGUS￿n En¥elJpe ID.. COE9W4G2c624FBw￿1A1l091ccE4o LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The pandem￿ changed where Llthn leam ith a shp uptak¢ in irlemet-b8s¢d leaming kn ￿)rnes aThJ community setthng5. This drove innovats.on and cha￿e and, as a resLIt. LGIL created, at no cost to schoc4s, a free Iltering seNice for thildren worknThJ Irom horn¢ IHomeProted}. Thi¥ ser¥i¢e has been retained due to continuin9 and growing demand from sthools. The techn￿1 offeriThJ vrds C(rtbineil wrth expert 9uidartt trw'ning to ensu￿ safe fer￿te leamtn9, Flus advict for parents on how to best protect their thik1￿n onkne. LGIL work5 extensively on counteiing •xtremism and online radicalisation. This indude5 Ihe produ¢bon of key resources developed n partnership wrth the Departrrnt lor Educabon {DfEI Prevenl Tearn and the Counter Terrorism Police. 1g0in9toofar.19fi.org.uk). LGIL offers a WKler centre ol safeguarding excellence inchHJing . for examF4e. grooming for sexual or thli d eriminal explortation. A WKler trainin9 P(t￿O and c(41eclK)n ol feswrces prwdes CPD materiaL5 for the dassroom, lor specialists and ge￿ralist slaff aike. Increasingty. LGIL is the destinat￿ fof scools' main Designaled Safeguarding Leads tts get their training. updates and advice. Ind￿lIr￿J on the ￿test kgi51ation and Statutory guidance. where LGfL is in a unique P05rfion to advice from its WO￿ on natio￿ polry tothg5. A new. and free product wa$ laurKhed ￿l￿d Safeskills (safeskillsinfo.Igfi.nell 1$ an online locl that enables schools to test their p￿11$ kn￿edge and awareress of sewrity and safety matters. Over the ￿[Se ofthis finaNèl year hundreds ofthousands ofque$tion$ have rLOW been answe￿ by LuhJren. PROMOTING w￿LL￿E1NG LGIL has developed a wide range of availab￿ materia5 wThrKling ￿ntaI heallh and welbein9 In¢￿ding the aword winnin9 restyjrces devebjped wilh Child Bereavernent UK to help sd￿5 supporting chiklren dealing ith a family reavement. This onlne ¥ewJr￿ https.'Ilbereavement.Igff.org.ukJ has been of significant value to sdKJoIs. LGfL reco9nises the pressures that S￿￿￿5 are ￿der and ¢￿Sequenty Wellbeing was a kty strand of the LG conference wih keynote preSenIa￿n$ tffeak￿rt sessm% URRICULUM AND &nce its inception in 21J01. the ojrriculum resowcts. as wilh the ted￿I09Y pth1folh?. have been at the heart of the LGfL Se￿Ice to sthools. In order to enable the effectNe use of technc409y in SLppW h￿3h qualty rJJrr1cA￿Urn delivery. the curriCu￿rn portfolio has been adapted. expanded and a range of inroyabve content devdoFed. In parti￿18r, changing wocesses, polioes and teaching methods to elfeclivety hamess digital and matwi0￿ 1$ a wnplex undertaking and potentialty fraught wth risk to scoc4s. thild￿n and teachers. Therefore. the effeaNe iTrte9rab"on of the latest di9itsl tethnology into èveryday teathrng and feamtn9 ￿qUi￿ careful and It<￿e￿ supwt to help evofve pedawy LGIL'S Currulum Team ore well placed to provida alongde a growing net4vork of kad SCI￿01$. Ipedtech.Igfi.netl Ovgr Ihe cours? of thi% fin￿ck￿l y¢or. LGtL ¢dl>y ext￿1¥ wrfh leJ waLlitioners and experts in the¥ ffield to develop resources to enable the develownent of a hdislic D¥jit￿ Stralegy induding a self-assessrnent toolkrt, training and access lo an extensive calabgue of case kading pracliboners wovKle feedback and advice on how Ihey have apyoached the cwiptex issue ol Digrtal Strategy WIt￿"n th&"r sch￿1 or m￿11 Academy Tn LGIL has partnered wrth the Eth￿110n F¢)urtdatbJn to develop a nJrtal network of le&Jin9 Practib(￿er8 IEdTeth Hubs where school leader5 and teacher5 get togelher lo shwe Èest practices {edtechhub5.Igfi.n8t) #nd disseminaie that wilhin a region. These sessions have been very wdl rewved and refflain a key part of LGfL's activty in the next ffinancial year. LGIL, in collaboration with rJAricJJlum leadets. has ￿tsd￿d aft txtaknr& range of case studies r￿rding the sth¢x4'$ usg 01 technokJ9y i￿Ing a Digrtal Stratgy Icdkrt. LGIL has delNered an ex¢engve C￿lin￿￿5 Professw)nal Developmerrt ICPD> wogramTr ts SCIts￿$. which ore deliVe￿d acfOSS a rnnge of subiects. specsali$ms as wel as wodu(As. of these prograMr￿S are delNered HI Partne¥ship with key suppliets and wel￿￿n￿￿n training pro¥th at no ¢>)st to scl*tyJls 1$ aTh)ther way in LGIL we$ money lor Page 10

DwJSk4n ID: ODE9104C-2¢624F84-83W1A11091CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Free cwriadum Pfoducl consurnplbjn 0)￿nY¢S to rfse. A thary the iÈpthrYJ for BusTthlThJs suwests it is potentially evèn mrK• popular w) sdts)ds than prevw)usfy I￿ght On July 1st. 2022, LGfL h05ted rts first conference (Lets c￿brate) in ovei 2 years. The Conference was a significant SUC￿$$ encompassing an outstsnding line up of speakers iwthing the Depalment for Education and The National CYbe￿¢Jjrify Centre. For the first bme. LG￿ introduced the cOn￿Pt of a lech Y￿age. tts shcwcase the best of 8ribsh technology and over 30 grateful SME'S and miuo buwnesses took part. LGfL sets asTde support lor supporbng greater indusion Ihrough the IndudED serv￿e. Thi5 team produces iargeted content and resources to support schools induoing W￿rt enrxjuraging the ofa UnNer5al De5vJn for Educalion a teaching approach that works to accommodate the reds arvj abilrfies of ￿1 amers arvj elirninate5 unnot•ss¥y hwdles in the arnin9 pror£s5. The econom￿ ¢xisis to plac¢ farnds Mi wlith t•) fegJtt in health and tlbeing ￿n￿rn$ tor thihlr¢n. Ensuring Ihal children are fed property. and sch¢x15 we resourced to SUPF#Jt the needs of their communty is a pnority. LGtL prN"des support to schc#)Is and familie5 thrwgh O￿lne Free S¢ool Meals IFSMI Checker. In 2014, LGIL built a platlcrfm ihal enable5 famib.es lo theck vthether they a￿ elgibk to daim free schcd rr￿15. If they are. Ihe child's school rerAi¥es a&aith)nal funding IPw"I Premium) to help and support the thikl tts0￿ thwr education. In subsequent year& LGIL refined th& platfr)rm to enable 5chLd5. to d￿L the elvJibaity status and rnake th? daim on behalf ol pa￿nts. The checker h85 been an wtslanding 51Kce55, and. in recent years. the chether has been promo¢ed by Marcus Rashford'$ Food Povefty Acti￿ Group whKh ha5 helped lo wKrease a¥Meness and enga9ement with the $ervi¢e. Over Ihe c<sutse of Current year ts FSM c1￿￿eT has identiw £XIM of polential Puwl Ptemium Fundin9 and $in¢¢ its irwti¢)n In 2014 over £185M. As suth. the FSM Checker has had a profound and positNe impact on chIld￿n and sch￿?15 across the LGfL cornmunrty. The eligbi i￿ty checer now used in over 100 Lo￿1 Authories and by Ihousands ol 5th0013. Much of LGIL'S has been in areas that are PC4yty servèd by ￿Oadband vthere schools have pwously been connecled at bw speeds. The intrc4JLKt)n of h¥h qua￿ty. Syrnmet￿al fibre seryices has enatled schools in rural a￿8$ to enjoy the same dvjital eypernce as uthn aw$ there historKalty sth¢xls had hvJher speeds. PAN LONDON AOMISSK)NS sERv￿e LGfL wryks in partnershryi wrth Local AUthOri￿s to ctsxdinate schod F4aces auoss London. This is a ￿tical task. involving Jndreds of thousands of annual app1Tht￿s across thè ￿￿￿tal each year. By colaboralin9 together and delvering the$9 services centralty, local authorityes save money by a¥oidin9 dUrA￿tIOn and delN•ring swvices effic4entty through shared IT 202V23 was Ihe nineteenth year of opdatth of the PFLondon Admis%ons Cowth"nated servi￿ for the 33 London Local Authoribes and S adjoining authryit5. successlully handkd over 236,t(Ki applicat￿nS in the latest ffinanck91 year. Underpinning this servti are trwo Central IT syslems by LGIL.'_ n The Pan London Coordinat8d Admissions syslems. pro¢e$ses parental appkabon5 foi 5th001 p￿es. U51ng the centralised system, Local Authorilvds airn to give every child a single offer of a 3chod place on Nalional ofier Day. whKh pre¥KW5ty wa5 not the ￿se when local sys¢ems were by indNidual Authorities.; and lil) The Pan London c￿rdinated eAdMiS5￿nS webste which was introduced in 2019r20 and during the pandErniC ￿￿￿0Ved and strearnli￿d the t￿CessIng of admissions and deliverèd a significant channel shrfl ￿th a rn8TrJr dedine in the r¥Jmber of lelephcne genefal enq￿rIeS to the supptyl teams as parents were able to successfully appty With￿t hav￿9 the need to cal for help or thice. Th8 Signif￿￿1 reduth.on in telephone calls undedine5 the I￿OrtanCe of inwved vthite design and well thoU￿t wt ￿$t0Th￿r￿jUrneys.

O¢xu&gn En¥dopp ID: DDES1o4G2c624FB￿3)&lA11o91CCE4O LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 DON PUBUC SERVICE NETWORK ' LGL provbJe5 (>JnnectNty and resi1￿nce for CowK45 Lorthn and naI￿alty. LGL Maintained a on ensumg the re%hence ol put4¢ services by sthedLling a ¥¢ries of sthedukd Disaster Recov¢ry Tests to en$￿￿ that, in the evenl of a nets¥¢)¥k failure, seNice$ be aulcffiaticalty rerouted to their seX￿d ¢onnedion. This progiamme remains an W7￿1ty for LGIL. LGL is underfakin9 a review of LGIL'S dalacents strategy with a vithv to knvering our cakn footyirirrt, OnC￿as1r1j capaaty and enabling the delivery of a new 9eneration of doud enat4ed nthorks. This refresh of tore technologies wll also provide LGfL with the plalf(Th to iMpr￿¥e thp rarrfje of opt￿5 lh il prwde to xho¢)ts and Muhi Acad8my Trusts at allordafAe pr￿s. BUSINESS MODEL TRANSFOR￿TIoN LGIL w38 establshed 3$ a cornmissioner of ￿oadb•1d to sd￿015 Ihat wag funded by govemmerrt throu9h the fonneF Harnessing TeCh￿Y Grant IHTG). Today. il is increasirwjty a dTrM5ified tethntljgy servKes organisati¢)n. The trnislormalion from a gtyermient ful￿ed agency to a comrnwcial. 8elf-susiainin9 business has necessrtated fvThJamental and lar-reathiThJ charys, many of whKh ￿ being addressed through LGfL's Fit lor the Future pro9ramme the expansion of the LGIL technical servK delivery teams. Today. LGIL to be o Ctynrni5sxr IKrt it ddvets ser¥Kes diredy as a serv￿ Provider. New ¢h8nnels. such as the Diglal Tran$frmatKn part￿ ￿TPl neknjrk have been estabftsh•d to provid• ways of grvwing 8eMces hamessing sm￿1 to Meth"um Sized Enterwi8e¥ wdl •s Lo¢al Aulhtiittts. LG(L's ability to adapt rts bjsiness model in a IleX￿jIe and nirnble way lo rreet the needs of 5th0015 and custorners 1$ on? of the reasons it has been able to ath￿ve high levels ofoJ5trrn ￿tenti(￿ and stay ￿k¥ant in a highly competitive market. T FOR THE FUTURE LG￿ is a grOWN￿ and divergfed technlkngy seNces group ￿d. as it tfjnlMiut$ to •xpaThJ. it is essential that ffim) foun(latyons exislwith modwn. d￿art4 Flaffo￿S that enath LGtL to furttbjn elkier and effectively at scale. A key investment for LGfL has been implemenlalion of a rrb)dem Custcryr Rel3th￿shiP Management ICRMI $yst¢m which Sup[K)￿ sates managemeni. communicatth, ser¥Ke mana9ement and a range of+Jlher ¢ustomer intera¢tion$. ¢￿er Ihe course of the year, LGIL rev￿ed a significant number of yocesses and re-engineered them for the CRM system to provKle greater supporl for core ac￿￿$ induding Sales 0￿er Processing and Sales Ppeline Management. The CRM syslem aho has a ran9e of inte9raiw lools enatAing b￿d￿e£ll)nal upjales of data betsveen systems wllhJJt the need t rekey information. This means that LGIL'S customef data 1$ rither. Modern ffinanaal systems prov#l# auoss LGtL ￿ enswe Ihat ac￿rate dala 15 avaiknble for fOre￿$￿n9. profit ond loss, eash fl(yw and balar￿ sheet management. A numbef of improvements have been Int￿ll￿d in the Finance Team with resped to technobgy and pr￿eSseS resuhirg in improved elficiency and over5ryht. For example. billin9 between LGfL and its largesl supp￿r. Vkq02 has been gmFlffied to avohl a large arr￿n1 of technical accounting adjuslments neediThJ to be made ea¢h month. It is planned that fvrther automaton of assel management and contracts wll be delivèred over the course of the next two finKial years akn9 wth inlegrab.on to partner systems lo enable aulomats'w of key task$ such as 'Iling reCon0￿"a￿On. As pwt of its Fit for Ihe Fthure projranyne. LGIL has cclabtsTated exten5T¥e1yv￿th partners to improve oversKJht aThJ service management as well as addressin9 concems the A￿lty of infrAmab'on held on parfner systerns. The58 dev•k)pments are Su￿r￿n9 the effective stewarthhip and management ofLG￿'S atstomers. Page 12

OotrJSvJn En¥dw10.. OOE9401C-2W4FBWW1A11091CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 WORKFORCE TRANSFORAIATION LGfL recognises the need fix a modern arvj motiv Ihat has ihe skils and cak>aaty to meet Ihe charKJiNJ and grwn9 demands ofa national provider. The pandemic has resulted in (Ltndarnenia changes in wothrce and accommodalion needs wth a general move to hybTKI v￿r￿Tr9. LGfL has ernbr￿d this cknye whKh has cortritrrtrttd to eontinuwvJ hgh ￿Ve1$ ofemF4oyee retenb"on. The expansK)n in serykes has led to planned headcwrt wueases ￿ ￿￿e￿e￿rity, Soleguardiry and tethnoloqy support. With the etintinuiAg ec¢)nomic p￿sUre$ on staff. there is lo be a need for LGIL to oJ)sider what furlher ￿aSureS may be apwopriate to suppcft staffs welbeiry ￿ the next fnart4al year. SUPPLY CHAIN TRANSFORMATIOII The pandemic unde￿"tyed the need lor tygani$atby￿ to ensu￿ that rots￿t Suppty thains were in place Io SUPPLxi r¢liable semce delivery and maèt tsjstomer need This 15 a continuing requir¢m¢nl given recent global di5wpkn5 resukn"ThJ war in Ukra￿￿, ii5ing ener9y pr￿e$, exchary rate volamity and repeated econ¢yntc Wdowns in Chin&. One of LGIL'S key strengths in recent years has been the broadening of it5 suppty base to introd￿9 wortd d8SS companies suth as Adobe have ¢)peTW up pOS9￿￿tES to supply schoo15 With exribn9 and i[￿>act[ul products such as Creabve Cloud. LGfL has nurtured Ihe Transforrn"on Partne￿hIp IDTP}. This is a nthork of Small to Medium Sized Enterprises {SMEs} who receivt regular updales and newslelter5 from LGIL This network also provHles an Kwaluable support rtwork lor sthods. This DTP nthO￿ has omtinued to be a succes5 st￿ with over 1C(I ccfflpanitrs part of Ihal framewuk. LGIL wll furthw invesl and devetop this channel over Ihe course ol the nexi financ4al y¢ar and wl ￿ntinue to buld sknll$ and knowledge into that c4mmunity. LGIL retalns a relenJe$$ frrtus on ensuring its CA￿tra￿S and partnerships delrver Value for Money and meet the expectatio￿ of it5 Custtyners. Thi5 require5 effeciNe ovw5ight and rnaNageme)t ol partners and sUppr￿r$. Key govemance change$ have been in¢rodu¢ed to drive impro¥errents in reliablrty. ¢)pefatw)ns. finance and iMOValion. Contracts wth partner$ have been rewewed and. when contrac1$ reach ￿new points. considerable frJJs 15 given to improving te￿S and address￿9 areas of inwrovement. This is ena￿1r@ LGIL to cost$ and ensurg POSitNe alignment befv4e¢n supplior$ LGIL'S Ot4"ects and wiNibe5. A dwerwfied and transformed $uppty has also ddNered 9reater resrfience and chots for LGIL and its Ubsteffiers whKh has been a fundamental building bloth in delNeriThJ kng term value 10 5ch)olg. LGfL is rgviewng it5 lutur8 telecommunicath.ons needs and wheihtr adthlNa partnern are needed to 31WQrt 9roxth in a￿a$ %there Vklo2'5 r￿tWOrk does nol feat. Since the yeaw end Ihe Trust has entered into ? contract wih its main supp%8r of tfoadband to the neW used. The cosl ol this is apFYoximatety £33.8 m whth wll pahj off over seven years. There will be commensurate savings in costs wilh th8 broadband supF4vèr so overal rt 15 expeded to b cost neutral. or better. during Ihe repayment perw)d. after whtch. Ixoadband Supplier costs will fall swjnificanty. Thi5 wkl enable LGFLT to a¢h￿ve rts aim of b8corning a SeNce Provider ther than just selk'n9 fm seNices from third part￿$ and enatk Il to provide enhanced 5èr¥i¢es to sthools at Iow8r cost. The contract enables LGFLT to increase rts broadband speeds to s(thoc4s lo a maximum of 10 Gbps al irLcremenlal cosl. TIMS enat40s LGFLT lo have a market leading p05ibon as meet the needs of schools as thty trartsrtion to the thud ser¥ices and require increasirvJ levels ol banttwidth to rneel the need$ of a mcJem, digrtally driven. currKulum. Page 13

DowSTh E• ID.. DDE9401C￿4F8l-83lA7lo9lCCE4O LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 ME TO OPEN STANDARDS AND INTEROP RA￿￿ LGIL has f05tered and aCcele￿Ied the use of c4Jud ￿tf0M)S and Intemet4ased s￿¥￿e de￿ery. The success of these ogrammes means Ihal Erwjiand is at the forefrrffit of Edfeth dthltynents g￿y. The futu￿ success of d¢yJd servtes. and th"r wdesFYead •JoptK•n in schools and the putrAic seclor, wdl depend on ocess and data orchestration seNKes that enable eific4errt and effective delNery of eduCal￿n to any locatv)n in the worfd. A worfd where dala fluw5 securety and free￿ acrnss a vast nexus ol partners aThJ C￿tril￿Jtor$. LGfL is committed to harressing Interoperatsfrty is I￿Sed on accelerating b( abjngsidè open standards Mi its suppty chain and wider digrtal ecosystem mdu￿1n9 its immediate SUPFty chwn. This il enable groundbraking Mintsvation in thJturè years that transform educab"¢M aThJ defver p)5thve ¢yJtcomes to sclbjob. RISK MANAGEMENT The managerrent and rn￿90n of Itsk is a key ￿101￿ for LGfL and ever presNJ in a chrnate of uncertainty. LGIL has embedded risk management and mth9ath.on in all a$Fects of ds key areas of corKem are r•pJrled to th Board along with mitKJating auions. The fdkn¥iNJ sections provide an ￿n$t{lera￿￿ ofth• Maj￿ Laler4Jes ar¥J risks that LGfL faces currentty. Financial risk is addressed ￿ the finan￿ secfion18ter in ttNs repDrL The worfdwde pèndemic has s¢verefy diyupt¢d th¢ globat eo)nomy. negatNety affectsj the suppty of good5 and seryi¢es as wdl a5 resulting in Ihe unplanned c105we of schools. Many companies, inthdin9 UK tethrK•lo9y Compan￿$. have Struggled lo adapt to the thar9ed enwr MassNe public borro¥Ying and spendin9 is also kkely to ne9aiwely impacl the econornic ouknk over the longer to￿ VAth infiationary pressures likety to dme up costs IN al Sup￿4r5 and oynpanies, potentialty Squeezy￿ surpluses. As sèl ¢Art in thi5 rewt, LGIL delivered a coryrehensive effecb"¥e response throu9h inthati¥es suth as Pledge 2020 and #BridgeTheDwide as well a5 'LvJhls On- investrnenis to ensure Ihat sth0015 and Councils cijntinued to operate successfulty despite huge changes in demand aTrJ the shrft to remote wL¥kn"ng. LGfL recognises that our ablity to fesw)d IleX￿ty and inr￿alWety to COM[>19 or any frJtLrt unexpeded events will remain a piiority for risk mitigalion for the foreseeable future. New produd and innovalions remain part of that rg$pon$o. LGIL 15 takry st8PS to increase resi1￿nce agwnsl COV1[￿lY$ felated suth dySfun￿#?n by dversi￿n9 its parlneTS and br08d8niry Ihe rarye ol pro¢knXs a¥a￿b￿ to seThryce rweds and mo¥iwJ away from single poirts ofdependence. LGfL's focus on effio'ency. contract managemwl as a$ ge￿raling vakp lry mcrfw from its S￿￿lIer bas• important tvJations to inftab"onary pre￿￿res. EXIT The con1inu￿9 ￿cerknnty vAth respecl to Ulcs trathng mngemerts with r￿t ofthe %)rld rèmain a eoncem with no obvious resofuti¢)n in sigm. Fry the reasork8 Set wi earfier in Ihis repry( LG￿.$ suppty thain is strthig ¥vith ow major SUPFty partners 8lwdy well athanced in twms ol￿n￿ngenCY pknning. Nvrtheless, there arè ltfy to be contiNiThJ swwwjs in curmcy exchange rntes that ll adversety affed prices an¢J driv¢- UP W51$ to s¢h¢)ots. LGIL is m￿gatI￿j thi8 impact by purrthasir#J at scale and enswir*J thal there is an effectiv• Pr¢￿rtMent capacity at the hèart 0fLG￿. LGIL also moximise$ the lrfespan of exi$ting assets to a¥￿d sub cy11m￿ use being made of pre¥p￿S invesknents and on invests In sNoducts bhat have a bng temi fulure. Page 14

Docusfgn En%k)pe ID.. DOE9404C-2C624FB44338-IA11091CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 LOW£OST CONNECTIVITY THREAT LGtL nee(Is to ensure that it evofves it5 ne￿rk and tethnokngy s(￿￿(￿$ lo enswe they remain Mmpetil¢ve and offer Value for Money. Lcw cost altemative teleoyNnurwcaliorLS suppty to LGIL'5 leased &nes 8 key competitive risk to LGIL. A significant amount of 9ovemment and prtvate $eolor investment 1$ 9oin9 bjilding ¢xrt low cost fibre netsvork5. This indudes the rise of Fibre to the Premise as a w&tffedive means of accessirg Ihe iniemet for smaller sch¢)ols compared lo leased lines. Satellite connectivity is also emerg¥ry as an attematsve connedrwty oplion wth tpte emergence of plallomis wjch as Slarfink whth offer ￿aSOnable connedi¢)n speeds and ￿e particulady usefd in wural areas whefe the costs of expanding backhaul fibr• is partitsjlty expe￿1ve. The t8tetommuni¢abons Ma￿et is also rapKIty thanging. BT and VTr4102 remain the iaryesi providers in Ihe UK. Howevèr, 1$ also an emer9in9 [￿m￿nity of Altemative New (Alt Nets) ihal are growirvJ from the 9round up. Th93 organisali¢)n$ are beneffitting from access to 8T's ducts enabl9$ yovJer6 to avgid Significant capital investment in i?vil works. Buch as trenthirvj, to route ¢at4es. Alt Nets are alAe to defiver very Cosl eff￿tive connectivity to customers. path'ujIa￿ in artas wlre there are POt￿bal kige numbers of resilentkal oJstomers. LGIL'S risk mrtwalion has been to bu1￿ a vlider dwjital seNice ¢)fferiThJ to schools wrth increased ¥alue that enabbes schools lo save rnoney aTrJ hrghty differentsates LGL in the Ma￿et LG¢L r5 develqxng 115 portfol￿ of prod￿1$ to encompass lower cost altematives to leased knes Ind￿ling satellrte and fibre to the premise. LGtL is also expl￿)ng altemative lelecommunications parfners to eva￿ale they can suppJl LGIL where VMB'S nets¥ork is nol avalable or there ar8 lethnical reas(￿$ why an aliemali¥e p￿￿der makes sense. LGfL Is growvJ its cust(¥nets and di¥￿￿1￿j its woducls vlhth is tmglng organisational pressures Inthding the urgent and eonlNi￿ny need to modemi8e LGIL as an and remain efficient As set out earfier in lh¢ report, LGIL'S Fit forthe Futwe proyramme is (rti￿1 lo suppthng and managing LGIL'S 9rth￿h by Jderni5ing pr￿esseS. 5ySterns and incWin9 the wbjer use of nexl generation d￿ltar p1affo￿5 including CRM ond overhauhn9 the ￿r￿anY websi￿. Groth in LGfL's coverage and vrideniry of LGIL'S direct swvices and prcJucas requires LGIL tr recruit additional staff to meet it1entif￿ needs in those a￿a$ indudtyKJ er￿btsng functi(￿$ suth as ffinance, business developmenl and sales. MANAGING ORGANISAnONAL TRAN FORMArnN The proc￿5 and ￿der thanges belng intrOdU￿d by LGIL to supwl 9rrprth indude Significant thanges in W0￿1r￿￿ practices o)ntracts whtth have been refreshed and UF￿ed for all employees. The rngve to a modern HQ ha$ benefrtted LG￿. doserlies wth sthc)Ls. c￿r￿lS and partner trgar1&￿.on￿ LGIL has not required • fundamerftal reN9ani¥olbJn to has wthed bn parthership wth VMB arwj Adept PIC to deliver mgre effeclivety. Ths year Ihe ftscus has been empty4rtm￿ of thiluals and t•am$ to d•v8k)p Iheir seNc8s atNJ coathing the OTganisation to irnprove t￿"1 perfomw)ce. The adopti￿1 of a Ilal rAganisalitirwl slTUCture means there is a maximum of 4 levels induding th? CEO. Looking ahead, LGfL need to keep its iJryan¥sational struciure under to ensure that it has sufficient capaaty to meet demand and indiwdual staft members have a sustainable ofwNk. (hfer the last year. addit￿n81 eapacity has been added to teams at a sustainot* rate aThJ vthl Contin￿ bn the next finaroal year. Page 15

D￿S￿jn EThe ID." DOE9404G2C624FBI-B3ts1A11091CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 EEPING PACE WITH PAARKET C LGIL 15 in a leclw)ob)gw maket innovatth awKI thange ¥e cg>nstant. As il is vital to ensure Ihat products and 8er¥¢ces remain twrent and relevant in o lyghty oynpebts¥e are& re is a risk that diyuptive and lasFmown9 thanges in new tecjY￿lo9Y and assouated serv￿$ could render seNices obse4eseent or expensive. Woth is alfeaty ￿derWaY to ensure that LGIL can support these changes and deliver the intefoperabAity and llexibaity that schoo15 ncw expect. In doing 50. there wll be orvjoing challenges and a (J)nstant balan￿n9 a¢X for LGIL its delivery parlws lo manage between prov•Jny • secw¢ ng1w￿k •wJ the need for mofe flexibility. Key yionties indude Wnpnjven￿ts to products that supwt the weased use of services and help sthoe4s mitate th• impacts on learning from the global pandemi LGIL also invest to modemise other key plafform5 this year that will enhance its safeguarding credenb.als to schcds. Further strategie inveslments in safeguardiryJ, infraS1￿Ufv, and ntrts￿rk5 tre planned to enable LGfL to lltinue operaiing ot th¢ ts¢frrffit of Innovati￿ in the edu¢atw markeL MIT GATING CYBERThREATS LGIL recognises that there is conhnuuw a¢AMty and efforts to th5rupt scho￿$ and olher L%Jdies thmgh trrgeted actNii$ including spamnmng. distritrAJled denial of Selv￿ attacks IDDtsSI. ranSon￿are al￿$. mamfare and viiuses. LGIL c4rt¥iues to invest to ils to nwlJg? threats throu9h prGJucl inprovements inthdo)g the add￿on ol new protedion5. AS Fyeviousty slated. prudent and effective investrn¥ts have been made in techTh9￿ sych as firewalls and alerting systems to mitigate the risk of swh breathes. In iecognition of the infJeased Ihreat to information and $ygtwn$, LGIL also undertook iThJependent testing ol As netsvorft seoJnty: Ihis cythal assurnnce will continue. A eontinuing positNe development has been the enhaneed DDOS protection enalAed by the recent and si9nifKant upgrades to the firewalls Ihat LGIL has d￿ayed in Ihe edge (i.e. the S¢K￿ siles) aThJ the c£Ye nefrwork (Le. LGfL's data¢ent￿$> lo¢al'on5 of rt5 netsvork. LGIL has also fows¢d ¢)n sec¥rity kYoces$ impro¥effwts and has athe¥ed Cyber Essenlial$ P￿5 awèdital?n. LGfL has made important thanges to its tt¥)Ir%t irtguding seojiity c4Jnpliance and fewffjThJ stsndards. SUPPLY CHAIN RESIUENCE Wrfh the majority of 5eNce proviskm administered tlwh (X￿tra￿S wilh substantial slypty partners. there remains the risk Ihat one of Ihese ¢outd fail. parD¢ulaty in the cuNent d￿￿te. In m￿gatIOn. LGIL undertakes regular r8Vi8w meetinys with suppliers. Financi￿ thecks Dunn & Brndstreet a￿ coThknted wul•fy and we part of the 8ssossrn•nt proeèss for major new contract awafdg. To imwove re5ilienc• in it5 suppty LGIL ha5 expaThJed its c￿￿er￿al eojsystem. Thi5 ha5 defvered a sKJnrfI￿nt broadeniry of products capabilits available to LGIL as wel as reduraThJ the exposLre to one supplier. The expansion ol LGIL'S partnerships has pr¢)ven invaluatle in drMtY4 ir¥￿81￿￿ into the services and subscriplions that LGfL offers. It Iso prowdes LGIL with altemab"¥e surth Sh￿￿j pathws fal lo meet the standards that LGfL requires. The crgation of a DIgrt￿ TransfO￿allOn Partner Network has been a parbcutar Su￿sS wilh d05e to Small and Medium Syzed Enterwses ISMES) thing cb5ety with LGIL on supwtin9 s(thools in Lon(h)n beyond. Atornvridè {nty4 part ofAdEPT pk) and VMB are uib.cal pathers ￿ Ihe dthery of seThices to schools. LGL ha¥ devglowd rob￿St improvement ￿an$ ￿th dear actths to ensure t£>￿Ir￿￿>js improvement (knr the c4wse of Ihe next fi￿n￿OI year. LGfL Wil be takw steps to ensure that effectyve govemance and best practlces arn aw4ied to th¢ ￿tracts ts Vklo2 WKI Adept. Page 16

DorJJ&)n En4lw K).. DDE94o4C-2C624FF¢B3￿lAI1D9lCcE4o LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 FINANCIAL RE The results forthe ye¥ LGIL'S ￿an081 pOs￿"0n ailhe eThJ oftt yware sly￿ in the attaLed fi￿n¢181 $tat¢m¢nl$. The ffla￿r part of LGIL'S I￿ome is derived direth frryn schools frA the provision tsf t¥oadband connectivity. related services (Internet fiNering, e-mail h05ting. e4nail ffilterwhg. anti-vwus proledKJn. ¥¥eb hostlThJ, secure rernote access, etc.} online edurational resour¢es •nd devKes. Howevef, Itss k8 li(ely to change as LGIL dwersffj￿ the produ¢ts and seThTrcs that it is sourong on behalf of sth¢)015. LGIL wtn•ssed a very subslanlial rise in its ￿enUeS as a reS￿l of dNersifyiry into devKe provisi¢m during the pandemic and expanding thè range of SeThi￿S and woducts that it offws in s(ools. Incorr fel this ye¥ from £35.999 M to £25.680 as LGfL wound down the #BridgeTheDNide pro9ramme. Expenditure has b¢en reduced in knÈ rylh expectkns to the expec￿ fal in laptop purtha3e8 as part of

8ridgeTheDivide. In FYE 2023, lolal expeTrJiture inoJrred was £27.771 M compared to £36.108 M in Ihe prior finanaal

year. LGfL also swcessfully renegotsated a number of its key ￿ntra￿S serJJring effiaencies, impr¢)ved utlisation as well as containing price irKreases. LGIL d￿S not ￿￿e1¥e any of its iKome from lundratsirYJ so is nol ￿￿rrired to compty wth any fundraising regLAations. LGIL operates a Oefined Benefit Stheme that is part of Ihe Local Govemmert Pen%on Stherne. This is a scheme based on career average eamin9s and, in some cases. ffinat salary. Pension tsjntllbutions to Ihe Balan￿ Sheet ￿rna1n Volati￿ and ne9alive. H(Y￿Ver. Ihi$ year the liatxlity Of £2.047 M in the previous ffinanaal year has unexpededy turrd into a suWus vthKh has e w¥fft boost to the BACt Sheet. The current uncerlainty and 1he need to enswe the frjlure s[￿lnab1ty of LGIL wll mean that a review of LGIL'S Pension Stheme wll be needed lo a¥￿d the burden of maintainwry Ihe lund being to) gfeat wth a likely mrjve from a Defined Ber￿$ Scheme to a Defined Conthbub¢Jn Stheme. A r•¥iew of the pe￿Iryb ¥theme i5 plarmed for the next finanaal year. GOING CONCERN T￿￿¢¢95 deern Ih•i LGIL is a GoiThJ Co￿￿. Fc41cMin9 ad¥ic4 frorn our E￿I￿al A￿Y1t￿$. LGtL has imwoved its ftyecastmig cash Ikhy, balance sheet and profil and loss statements n¢)w extending out to ffinan(aal year endirMJ 2027. Tr forecasts demonstrate that over the Medium Term. wov¥Jed assumpb'ons incbJthng net 9r4yth and red￿￿On in liablities continue, LGfL will be in a stabla and sustainable finanryal po¥AtK)n. As part of those forecasts. optsons for cJAb"ThJ costs and ￿rat￿l9 savin95 have been devetoped to enable LGIL to •Japt to unfrygseen aroJwrtstanc•s. In the cuwrent y•ar. LGfL has cmtiThJed to relain stroryj and ￿h1￿1 reflecting historic p8rfom)abKe, particulaty in the first 9 rnonths oflhe finanoal year. LGIL'S tyedit wrAlhiness f￿aInS strory. Net assets have irryoved on knst year because Ihe p&win has lalen followmg an actuarial re¥￿ of the fvn(f¥ p8rforrnan¢e. Lon9 lerm leasin9 fiabllties continue to rèduce from £1.522 M to tO.603 M improYig cash liquidty. redutlion in long temi liabl1￿'eS will reduce expenditurg ygnificantly from financial year ending 2025. Nel cul￿nE Assets hav¢ hJxÈred trtrt Ihis is du• to h￿)her swidmg affedYwJ (ash encompassin9 ￿vestMents in new platfomis linduding Meraki IKefKe¥l aTrJ has inwsed liatrfTrts. Patt￿lath1 the level olthfe￿ed inC￿e and ¥¢¢wuals whith inueased from £6.499 M io £7.9)) M. There wefe SVJnifi￿￿l cashllry movements wilh Deblots ts11w￿ from £1.15 M to £0.350 M as a result of skng performante from the c￿￿rt Control Team. The ￿ed￿l￿)n in detlys boosled year end cash and, to a large extent, mitigated the ¢x¢eplK>nal 04rtfiow5 In Crndthrs fr47m £4.972 M to £3.886 M whth resthd from the seldemenl ol a number of disputes. age

DocuSvJn En¥elopE ID." DDE94O4C.2C624F￿j￿1A11o91ccE4O LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Grthvth is 1rnp￿tant to LGIL'S I￿g tewm suc£es5 as il boosts wme and ￿Uldty. Grty•th ts partiaAarty vthatle if LGIL can improve prcJuctivty contain its supply thain cost& A key f¢￿￿$ LGIL in the next ffinarKial yearwim be to contain lower financaal exposure with key suppliers. Based on historical perfomarte, LGIL will conl11￿ to ti¥oy net gr(wAh hith c4)ntinued expansion in 2023 likety in the Home Counties based ￿ a healthy PiFdne ol future sale5 leads and rtentK)n ￿t￿lty. LGfL continues to benefrt frtyn Very high of custorn￿ retention. Renth¥ed confvjence in LGfL 15 refieeted ty the laca that schools who had kft LGfL are ncw reiuming which means that LGfL's $har¢ oflh¢ London markgl is irKreasing. LGfL's strategy of woMdKig additional vue through buThJiry a(klitk)nal prothKXs aTrJ serv￿$ inlo its broadband ryice has been a key part of rts suttesswith in¢rea&ng levels of s¢h(x)Is taknrvJ thantage of the fredy available produ¢Xs. The imwovements in t￿r methurTrterm ffinarKAal Fkniing ** enai4irYJ Ihe Board to understand and test impact of making key investrnent decisws and con5kJerthe tradwff5 and Conseque￿85 of key d•tsslons Ihat fie ahead in delivering its strate9y. In Ihe cu(rent year Net Assets ￿cAs) we negatNe trt. as pre¥wsty ￿p￿ted. this was ￿t￿Paled as part of the cydical refresh of Ihe neh¥ryk and MI￿OrS perfC￿rnanc8 in p￿ou$ refreshes over the lasl 20 years. As in previous cycles. according to the Medium-le￿ finanaal proiecthons, Net Current Assets w￿1 move to a sustainable position. wrth sufficient funds being generated to enable Ihe next ¢Yd￿￿1 uFgrade ol Ihe by FYE 2027. LGfL is also confid￿1 thai the cost of fuiwe upgrades will fa￿. Indeed. over lh8 last three refrèsh cycles, the costs of replacewnts we genernlly la￿ng historicalfy aThJ trretre Ihe and stru#ural ffinancial demar￿$ on LGfL are declining. LGIL r8cogni5e5 the urgency nece55ty of reMaInw￿ foojsed on ils financial bottom ￿ne and a number of key initiatwe$ wil continue to SUPPDrt LGIL remain a GoirwJ CcrfKem:_ 01 HamessiThJ Mult￿Year forecasting for cash flw. ba￿et shèet and wofft loss managemont and constantly re¥iv•ing in Ihe Iwjht of chan9es 11 EmbeddiThJ the use ofcore ffftanck41 ststeme4tts ￿19 99Verrwn￿ ￿￿dIng inve3tTh￿nt decisions 011) MaintaiiiNJ a heathy sales ￿peline by hamewwwj data LG￿'S CRM system aThJ developing a national sales Strategy OV) A¢hteving better value and rethKed costs from SUPFliers thrO￿h rna[k￿ testing, finanoal cefflmercial controls 01¥eN￿.￿j the rnnge of pie4Jucts that it WDvths to sthods and Iherelore the of its in¢om¢ IMI Redut4ng the rate ofcustomer 8t111t￿ tlwh a of thi￿le￿ iirtiatNes ￿duding llexit4e pricing. personalised odud dg51gn and produrt ¢nrKhrnent IMI} Implementing improved investsnent and managemenl c¥rfrtrols, ind[￿a￿￿j slopping irlltiatNe5 that were not delNering benefil, 9•4eab"rwJ assets and lonterm F4annirwJ (Wll) ExpandiThJ LGIL'¥ cu810Th￿r base in sthxts arKI woss the putrk sedor OX) Impro¥ing rTh￿al cnntrols.. (xi Ensurmg the ¢th￿nUing •ffedr¥•nes5 ofthe cortlrt4 and XCo￿ts payable fvnclions: ond (Xll Investirg lo inyove the (ornFth¥eness ofthe pr0￿ct5 LGIL provide5 to 8chwl5. Given the above, LGIL has adequate ￿￿ree$ to meet all liablths as IW fall due a￿1 ￿linUt in operational existence for the ￿eSeeable future and suffiaent contrds in F4ace to ensure finwKial stewardshy. Therefore. we have prepared our 8¢ty)unts and financial sl¥lerrtnts on the b•&s that the ¢harty is a GoirYJ Concern. Poye 18

DocuSbJn En¥d¢)pe ID". DDE9404C-2C624FB¢833&1A11D91CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 At Ihe 31 Mar¢h 2023. LGIL'$ •ssets were U532 M IrwovM￿ lrnm £2.984 M. ￿rrent 11th￿l￿e# mtsved -£3.621 M in the prev￿)US year lo 44.507 U lar￿ due 19 5￿Jnificant investments bng made in nets¥ork ond ttorm Irf￿r0Vements. As yewouS￿ reported in LGIL Flanned for a depleti¢)n of feselves and ￿restriCtert fijnds to enabfe the modemisatlon and upgrade of the sthoojs. as parl of Pkdge 2020 and the continuing in¥estment in prcJuct and 5ervice$ i￿VrOVements lo ensu￿ LGIL i¥ oJmp¢tili¥e in the market it swves. The actuarial assessment and pension l￿bIlity was an iffsjrovement on the Fwevsous years a surplus of £1.435 M c4)ryared with a liabilrty of £2.047 M in Ihe prev￿$ ffinancial year (for aco)unting reasons the SU￿4￿$ is not recognised in Ihese accounts). Going foTh¥ard. LGIL mawrtains uNestricted ffijnds and reserves ctjnsistent an1￿4pated eommitments In regard to maintaining contllmlty of 5eNce, cydtslty refreshing its assets. and ens￿n9 it can:_ {1) Fund ts opera￿5 for at least 3 nwbths Swvive major and unloreseen econrtht¢ Sh￿kS and de¥elLynents Provide supp)rt lo e(thKati￿ in the evert of a matend drrtJe in s)¥emment fi#￿'n9 pohry in respecl to Schools. broaLaTr (v41 Provmle cthtinwcy IT I￿at￿ in1ball￿". {v) Respcffid wrposety to ted￿Y inno¥atitin" {￿) Have eap• to reSp￿d to new regulatwy IKrden The operating m￿Je1 of LGIL means that li need$ to reThes1 a siynikarrt prOWti￿ of il¥ SU￿1￿$+5 into rr frastnjrture to enswe Ihe netrth 1$ kept up to date aTrJ service the need tsf partiripatin9 5th001$ and othèr TRUCTURE VERNANCE AND MANAGEMENT The London Grid orgaThsab"cn cmsists ofthe folkywing k9al enbtse$'.- Name ststus London Grfd for Learnlng Tnjst Private. bmited by 9uarantee. no sh¥e captsl. secon 30 ofthe Companie$ N£t Companies House rKS. 4205579. Mernber5 are Lond¢Jn's 33 L¢)¢al CO￿¢￿ Chanty Nwthr 11)90412 London Grid Limlted Private Limited Conyrky Compan￿$ House ￿. 05122783. Wh¢& (vwned by L(ndon Grid loi Leam*wJ TrusL This has naw been merged LGfL folow"ThJ approval to Ihe Obi•¢ts granted by the Charities CommissKJn and L￿doTr Counrils. Levs Get Olgltal Private ￿"n￿led Company C￿nPanieS H¢)use no. 111S8329 Whdty owned by London Grid for Leafflw￿ Trust Curyenty domwnL Pagè 19

DocJJ&gn En%kyE ID." ttÉg404C-2C624FB&B3￿1Al1D9lQCÉ40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 PPOINThIENT OF TRUSTEES 133 London Auth0rrt￿ a￿ rne￿￿ of the for L&8mirwJ Trust Company are rnsponsibltr for appointMIg the Exeajbve Boaid. TN5tee5 are nominated by Ihe Council. Each Mernber Ihat is a Ctxw)cl rw ￿TrInate a person as a Direclor, who shall be appointed as a Norninated Diredor by o resolution of the Directors. The Nominated Di￿(0r$ appoint one or more persorts as DireLlor5. Dwedus are d￿Sen by fefererte to Iheir relevant qualifications. skills. experience. kn￿t￿ge. professK)nal. comrr￿rC1aI or comr￿nty standing and, where possible, their C￿ntrIbUtion to making the boart1 of Dire(aors apwowiatety diverse. No Directots af• appointed urf855 their candidacy has been notifed lo the Members in suffirient detal and in $uffi¢v&nt time to enat4e any Mernber so minded to comment on the pmp)sed apwntrnent in writing to LGtL prior to the appoÉnlment be￿g made. The ¢¢ynpany has held Annual Gener￿ meeti￿j$ annuaty its in0¥￿, lo appoint Diredor5 and A[￿jitorS feeeive and apsxove Direclcws. Rep(¥t and Acc£Junts. LGfL will b• seeking lo slrengthen ts g)vern￿ by appednling Board members over tr course of the next finanrial y88r. us NO LGfL ￿cognISeS that pcw corporaie 9ovemanc• and (legsion mwig have been Ihe rnain cause of failur8 in other tharities, and that Trustees have not been elleclive in Ihese I￿)denceS. ACC￿ding ¢0 ￿Search, nwJ¢h of this ineffethveness is due lo inadequate induthon and Support offered to Trustee$. LGL reeoyni5es that a Twu5tee wll make a s￿)$&￿￿"al contriLJb"on rf Ih"r I)d￿tion is hanthed effectivety, and ¢hey have th? Informati￿ ¥kl$ needed to undertake Ihwr t￿lIeS effecbv&y. LGIL recognises that it 1$ that Tr￿tee5 have all the necessary inforrnation to mak8 an •ff•ctfft contribulion to LGIL'S affairs inchjding.. Ensuring that new Twstees ère fily con¥ersantwith Ihe Articks ar￿ Aclpirfies of LGIL Provision of additional relevanl malerial, indudiThJ Board paper5 aThJ Ihe statement of accolmts Pr¢M(lin9 Trustee trar￿n9. whith i8 wo¥K￿d by the Company A￿sitors. and That Twstees are awa￿ oftheii legal obffigabons under Chawths Law. are8¥ suth a¥ Pvblie Benefit ar Responsibitrties of Charity Twstees ICC31. ORGANISATION LGfL's EXe￿t￿e BO¥￿ of seven meets around S twnes a year lo a(his8, revinv and direct strategy and investment F4ans, and to provrde ovwgght of LGtL's perfomwrKe. An Audit Committee meets to review the accountirwj and fin￿￿al managemenl practtes ol LGfL. The A￿111 Corrffiittee is respon3it4e for r¢viewirg Ihe report from the Extwn81 A￿dI￿S and fe￿ P￿¥￿ing assurartce to the Board. LGIL is also accountable to its members through ihe èrAive engagement of key stskewders ￿ the fom of Local Authority Offi¢•rs and School reprsentatNe5 meet regularty at the London Grid Secx Group. This work is augmented through the lime and effort given by rewesenkn staff sil on LGL'S Bo¥ds'. The Ethtorial Board and Safeguarding The day-ttrday OPe￿"On of the ccthpary is the reSp￿ts￿lIty of Ihe c￿ ExeartNe, is ac¢wntabl¢ to the Board, and thè Members. Page 20

DwS&JTh Envel￿ ID.. DDE9404C.2C624F8833&1A11091CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Chief Exeethe manages 42 slaff. The combwd staffing estabfjshrnent is 38.1 ful￿time equivalenL In orderto ladilate effedive operations. the Chief Exec￿￿ has delegated aLthxity for all matters induding financ•. •nwbyment. lecmobgy services and ojmmercial actrvrty. In 2016r17. Ihe Artides of LGL to enswe ihey rellecled be8t prxtKe.' ￿￿traCt￿l9 wran9ernents tetsveen LGtL and LGIL were c¥tured in an inlercompany agree￿nt bets¥een LGIL at)d its trading Subsidiary. In 2019r20 pemiis5t¢)n VAS wanled by LGfL'$ Shareholders, folkr•ing authorisation fr¢)m the Charth"es Commission. to extend the Articles to cover new Ottyects relaliry to arvj Community De¥elopnenL This c￿nge wa$ rdtified in 2020rk1 follwing an eXlraXd￿ary vote by rts shareholder In 2022123 a lurther of Objects was apwoved fo￿"Th9 ad¥J"ce from Ihe Charths Commissh)n. NERA The Bowd ol Trustees is responsible CEO remunerat)n and the erntdoyeè sal¥y-man￿ett￿l and bènèfits frèmework. CEO remun•ration is rebiewed and $81 by th8 Human Res￿r￿ sutwnfflittee anrwally. The rernuneTrt￿jn of staff is the resp)n￿1XIty of Ihe CEO. All staff a￿ a￿Anted ￿der locawvemment temis and con(liti'ons. Pay grades for TnK%tee Officers are r•rable with wblic-seclor employees undertaking similar rc4e$. Perfonnance is rewewed artn￿ty wih Ihe Outcr￿ shayng wlthtr there are any perfomarte le￿ted payments. inrJements or no rise at all. Remunwab"on continue to t s(¥ulinLsedlo enswe vthe fcf and algnment wilh th• market 98￿raIy. RELATED PARnES LGIL ha5 a tradin9 subsidiary, London Gwwj Limited. LGIL Trust is the sole sharehokJer in London GrKI Lynited ILGL). LGL prov•Jes acces5 to Twstnet ser¥Kes for the WKler put4K s8dor, part￿U￿ty Thg LGL Board rneets at least S times per year ilh Chainnan, CEO. LGL off￿¢1$ and a re￿sen1￿"￿e of London CIOS on Ihe board. An intercompany memorandwi ertsures that the aFyopriate ts)ntrndirKJ wrangements afe in plaee be￿en the LGfL and LGL. From the beginning o12020r2021 f￿￿￿j the thange in ArtK4e5 of LGFLT Ihe acti¥ibe5 of LGL have teen ab50rtJed ithin LGFLT itsell and Ihe c¢rnpany LGL is t￿￿enty dommnt LGIL has a dormant company. Lefs Get Digi4. REFERENCE AND ADM STRATIVE DETAILS Name ofthè Cha London GIKI tr Le￿1￿￿ TrLI Chaiity Regislration N￿thr. 1090412 L￿d0ft Grid for Leaming. tsyh Flw. 10 Ex¢thaffjè Square. Primrose Strt, LoryS)n, EC2A 2BR. The diredoT5 01 th¢ ojmpany (the chawity} arn its tnjslees fw the purpose of thority Twstees and Offi￿rS ser¥ing durin9 the year and %nce the year end as fdbm". PaLA RobinsM- Chaimwn Jane McSherry- Elected Represenlati¥e Gary Hipple- Elected Representstive Fabio Negro- Eleded R•preserttativ• Nick Robuison- Elected Representstive Helen Wamer- &e¢ted Representative Sean Green- Elected RepreS￿￿tiVe Com Page

DorJJS&n EnvdLJ)e ID.. DDE9404C-2C624F8WW1A11D91CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 ana emenl Peraonnel John Jaclson- Chiel Executive Officef Oavid YourrfJ- Fltering and ClO￿j SeNees Lèad Mark 8entley- safegua￿li[￿J and Securty Lead Michael E¥a- Programme Manager Bob Usher- C￿lent Mana9er Ajan Phiifips- Group Financial Contrdler Richard Marbn- Speaal Projects Lead John Bagley- London Grid Limited Manager Paul SNwlh- se￿£0 DelNery Manager r R•￿vant O anlsatlons Com Menzies- LGIL'S Accounts and Audit Advisors Addres5 and Contact Deta115 IAen2ie$ LLP. Seo)nd Fk)or. Magna House.1842 London Road Slaine5 U n Thames. Surre TW18 4BP illex Ltd One New Sireei WelL8 Somerset BA5 2LA. Lloyds Bank PLC. 83 claren￿ Stree¢. Kingston upon Thames Surre KT11RE Ashfords LLP l Fetter Lane Lcfidon EC4A 1AN Hytec Inforrnation SerJJnty, Caim5 House, 10 Station Road Teddin on TW119AA illex- LGfL's Le al Aomser ar¥J Dala Proteaion Officer Uoytjs Commerrjal Banking- LGfL and LGL'S bankers Ashfords- S eaalist al Hyter-security and profe5Sh?nal ad¥￿e EXE None TEMEN OF DIRECTORS. RESPONS181LmE The dwectors I￿0 afe also the trustees of L(￿ Gritj for LeamiThJ Trust for the purposes of charity lawl, are ¥e5ponsible prepafing the Tnjstees. Annual Report and tr ststements in accLJrdance with apph"cat4e 8ThJ re9ulab"ons. Company law ￿￿leS the diredors to wepare statements for each year. UThJer that law the threctors have elected to prepar• Ihe ffinanC￿l statements in accE￿dar￿a with Uniled KHYSJM Gen•raty Accepted Accounting Prathee (United Kingdom AccounlirKJ Stawtslards a￿1 appScable Lqw). Under Company Iw the (Sreclors must not apwove the stateffents urfess they are satisfd that t￿Y we a truè fair view of Ihe stale of affairs of ￿ tharity and the and expenthture ofthe company frKthat peritid. In preparing these fina)ual statem￿ts. the directots ￿ r•rrired to". Seled 5urfaJbe accountirrfj pr¢yes arJ apFty them ￿nsISte￿￿ ¢)bserye Ihe melhods and winoFles in the Charilies Slatemerrt ol RecLynm￿ded Prnc*ce ISORPI Make judgements and estimates that a￿ reasonable wdent Slate whelher applicabte UK Accwnlww Standards hwe ljeen f(kned. S￿le￿ to ony rnaterial departwes disdosed 8Tr3 eXpts1￿ in ts fmarKA?I ststements.. and Prepare ihe financial statements on the concem basis unlèss il s inapFwowAts to presume that the thaiitable company wll tonlinue in busness. The direetors are respon%ble for keeping adequate accounlwig reujrds that are $uffipent to SI￿ and explafti the charitys transactions and discbse wilh reasonable ￿￿raCY at any time the ffinancial p)sitKJn of the tharity and enable Ihem to ènsure that the finan¢ial statements compty wrth the CompaniesAcl ￿. They are a150 responsible for safeguardirg Ihe assets of tht ¢xxnpwry and herKe for taking reasonabte steps for the proventi¢)n and detection of fraud and other iNegulwities. Page 22

Oo¢AJSign En¥eW D." DDE9404C-2C624FB&B338-1A11091CCE40 LONDON GRID FOR LEARNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Each ofth¢ persons who is a trustee at the date of approval oftlM$ ¢Lmffimis.' That in so far as they a￿ awa￿ Ilwe is no relevant atyjit informalion ofwhth the corryanY5 authtor is unaware Each trustee has taken att steps that Ihey {￿ght lo have taken as a twstee to make themselves •¥are ofany relevant audit informatm aThJ to est￿lsh that the tompaThYs èudrtor is awa￿ ol that inlomiation. Menzies LLP a￿ deem&J to be re-appointed uThYer sedion 487 [2] dthe Cry￿n￿$ Ad 20￿. C REPORT The company lias chosen in acee¢darte wth Secbon 414CI11} dthe Crynies Act 2￿)8 {Strategic Report and Oirectors, Report) Regulations 2013 to set out ￿lfv.n the Strategic Report the ConyanY5 Strategic Report InfO￿all0￿ rew¥ed by SchedLk 7 of the Large and Medium s￿ed Companies and Groups IA¢<ounts and Reports) Regulation 2008. This includes inf¢Ymation that would have been indwled in the bu$iness miew and detsts of Ihg prirbwal risks and ur￿rtaIntse$. The Tru5tee$' Report {w)Corp￿a1￿n9 the Strategtc Repryll ￿￿$ wroved by the Bowd of Tw5tses {whid) is also the Board of Oiredof5) and siwed on rts behalf ty.. Apwoved by order of the membws of the bowd olTnj￿ees and signed on ththr behaifby.. Company Chaim)an Date. 21-Dec-2023 c￿panY Secretsry Page 23

Dor￿S￿n Envelope ID.. DOE94￿2ce24F￿B￿IAl1D9lCCE4o LONDON GRID FOR LEARNING TRUST MENZIES eRIGMTER THINXINg INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LONDON GRID FOR LEARNING TRUST Opiniorb We have audited the ￿an￿al slatemenls of L(rfthn Grvj f( Leaming Tntst (the 'parent ch￿table company) and its subsidiaries {the 'grwp) for the year ended 31 Marth 2023 toftwse Ihe Consolidated statement of finanaal adivilies. the ConsolKlated balance sheet, the Company balance sheet. the Consolidated statement of cash fi¢￿5 and Ihè relaied Th)tes, induding a summary ol swjnificant actymting pdKies. The ffinonr#at reporb'ThJ f￿8work that has been applied in tsir weparation is applicot4e law arbj United Kingd¢yn AwxJnbn9 Standards. indudin9 Fina￿181 Reportsn9 Slandard 102 'The Finwal Repryliry SIwKlard aprdKat4• in th8 UK and of I￿lantt (United ￿ngdorn Generoly Accepted Accounbng Prathce). In our opwiicffj Ihe financial statements: give 8 true and fair view of the state of Ihe lknp's and of the parent tharilable comp8nl$ 8ff8irs as at 31 Ma￿h 2023 and of the Grwj's in¢oThMng resources and appI￿a￿"On of resources. in￿dIng its irtKJme and expendiiure fc Ihe yew then ended.. have been propety prepared in wwydarKe United KiThJdom Generalty Accepted Actwnting Practice,. and hav¢ been p￿pared in a¢cordan¢e requirwnents ofthe Companes Ad 2006. Basls lor oplnlon We conducted t)ur avdit in accordance Intemational Standard5 on Auditing WIQ VSAS IUKII and applicable law. Our responsibilities undef those standards are further desc¥ited in the Auditors. responsit#lities for the audlt ol the financAal slalements sedion of our report. We are Ir￿ependent of Ihe Group ￿ aCCc￿dance wrth the ethical iequirements that are relevanl to our audit of the financial stalernents in the United Kingthrn. irK4uding the Finanaal Repo￿ng Councifs Ethical Standard, and we have fuhllled our other elhical resp￿51￿1111es in accvdance wrth these requirements. We believe that the audit e￿dence have obtained ￿ sufficient and appropiiate lo wo¥Nle a basis for our oF4n#)n. Conduslons relatlng 19 golry Co￿eM In auditing the financial $latement$. ￿ have COnd￿le￿ Ihat the Trwtees use of the gryn9 corwn basis of a￿UntIn9 in the preparats'on of Ihe finanryal staternents is approwiale. Based on the work we have perf￿ed. we have not ideniified any material uncertain￿$ relatr.ng to events or condttions that. inrflvidu￿IY or coleLlwety, may casi $Tynth£xnt dwbt on the Group's or the parent charitabltr companrfs ability to Continue as a wing concern for a period of at least nvrths from financial statement5 are aulhtri$ed for issue. Our ￿P)nSib￿￿e$ and th? reSp￿sIbilIS of the TnBtees ith respecl to 9thg concem are desubi ed in th¢ relevant sections of this rewt. Other Inforn)atton The other infofmats"¢)n compftses the mfonnth"¢)n indLpJed in ihe Annual report other than the financial statements and our Auditors, reporl thereon. The Tn￿le8S are ¥¢SpOn￿bie for ihe other inforrnation ￿trIned wthin th? Annual reporL Our otxnw ¢)n Ihe finanad 51atements does not Cover the othtr informab.cffi and. ex¢ to the exlent ctherwise eKplicrtty ated in our ￿￿rt, do not express ary I￿rn of asswance condu5ion Ihvreon. Our re5ponsib4ty is to read the other inf0m)at￿n and. in d¢ing so. CL•)sidw wttethef th& other informatw is materialty irKon5iStent wrfh Ihe financial statements or our knrr•Aedge c4Jtained ￿ Ihe t¢xwse of Ihe a￿￿11. or th￿l$e apFears to be rnalerially rTh5Stated. If wè hdentify such rnaterral inconsiste￿V&$ or opparent rnatwial mistemerrts, we are wlired lo determine whether this gbve$ risg to ¥ rnaterial nNsststement in the ffinanoal stathents Ihemsthe5. If, based on the wort * have perfonned. we condude that there is a material rr4sstatement oftl¥s other *kn, we we reqLw¢d t¢ rÈp)rt that fact W¢ have nothing lo rep￿ Mi regard. Page 24

DovAgn En¥lore Tr. DOE9404C-2C624F84433B-1A11D91CCE40 LONDON GRID FOR LEARNING TRUST INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LONDON GRID FOR LEARNING TRUST (CONTINUED) Oplnlon on othèr mattèrs preKrlbèd bythe Ctxnpanl¢s 2006 In our opini￿. based ￿ the in Ihe ofthe audit.. the information given in the Trustees, report inckJthiThJ the Strategc report for the yearkn which the finanual ststernents are p￿pared is constent with the fjnantsal statements. the Trustees. report and the strate￿ rewt h￿e been wepored i) acctvdarte wth applK8ble legal rewirements. Matt•rs on which ￿ are requir•d to veport by •x¢•ption In the light dour krt¢wledge aThJ urhJsrst•ldM￿ of the chariiatI0 ts)nw and rts envircffimèrt obtalned in tho ¢4urse of Ihe autht, we have not identhfied mat￿191 mIs￿nIS ￿ the Twustees. reP￿t 1Th￿U￿n9 the Stratyc rewt. We have ￿1hIng to repNi in re5perl of the fcknirwJ rnattws in relation to wlw.th COm￿nieS Act 2CQ6 requir¢s us lo report to you il. in wr opinion.. the paient d)itable company has nol kept adequate and sufficient ￿nI1￿j recorfs, or ￿lUMS #dequattt for oui 8tKlit have nol received from bfanches nol ￿$￿e￿ by us". or the parent caritable 0￿panY finanual stalements are Th)t in ag￿ement wrth Ihe accounlw recLYds and returns.. or ¢rlain disdosu￿s ofTrustees' remurwabon yofied by law ¥e not ma¢Je,' or Re$ponslblllUes of Trustees As explained rn0￿ Ihe Twuslees, ￿P0￿bIlb¢S ststeffent. Ihe Twstees (who a￿ 81$0 Ihe diredors of the charitable cornpany for the purposes of company ￿￿} a￿ responsible for the preparabon of the finanoal sla¢ements and for being salisfied that Ihey give a tnJe and fair and fof such intemal ¢¢)trc4 as the Tmstees delem)ine is necessary to enable Ihe preparation of finanoal stalements that afe from material misslatement, whether due to fraud or e￿£¥. In PTeparirwJ the fThnc4al staiements, the Tntstees we resy4tsible ts assessing Grwp's and the parent charitable )mpany'$ abilrty to continue as a wng concem. dist)sing. as apph"cable. matters related to goin9 r￿n¢M and using the going concern basis ol aecouThiirvJ ￿￿eSS the TnJ￿eeS ether iniend to IK4urdate ihe GTOUP or the parent tharitable Company or to eease Operat￿5, or have no reah'stic matTrvÈ to do so. Page 25

Docuslgn En¥elDpe ID." DDE94o4&2C624FB4B3￿lAllD9ICCE40 LONDON GRID FOR LEARNING TRUST INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LONDON GRID FOR LEARNING TRUST (CONTINUED) Auditor5. responsibilitie5 forthe audit of the financia Statements Our obie¢lives are to oblain rea¥rThble assura￿ ¥t<xrt whether the fmanr#al statements as a Who￿ are free from ma1￿181 misstalement. W￿ther due to fraud Of error, and to issue an Avditors, report Ihat includes our opinion. Reasonable assurance is a high level of assurance. but 1$ not a guarantee thal an audrt conducted in accordance with ISAS (UK) will atways deled a matttial misstaternent when it 8Xi5ts. Mi55tatements can arise Ir￿￿ fraud or error and are considered material if. ￿diViduallY or in Ihe aggregate. Ihey reasonatjby be expeded tts infiuenee the eeononxc deusions of usefs tsken on the basis ot these financial strtem￿l$. Irregulariti¢¥, in¢kKling frayd. a￿ instances of with law5 ￿l￿all￿. W$ desKJn wtseèdurès in h'n• with our responsibilits'es. outlined atx)ve. to deted material misstslements ￿ respect of irre9ularityes. i￿￿ling fraud. The exlent lo which wr Pfocedures are capatAe of ¢Jeteeb"nJ ityegularib"es, itKknlitvJ fra￿j is detatled below.. The Company is subjecl to laws and ￿Ula[￿on$ thal Oredfy affect the finanoal ststemenls indudiThJ finanrial reporting legislalion. We deternined that the folknwing Laws and regulations were most Signthnt including the Chanties Act 2011. Ccmpans Act 2(￿6. Employment RwJhiS Act 1996. Keeping Children Safe in Educat￿n, Tax Legislation and Ihe Dala Proteclthi Aci 2018. We assessed the exient of c￿pIlar￿e with these laws and regulatHJns as part of our procedures on th• rdated financial slalement items. We undwstotyj how the Company is c)mth"ng ith those legal and tra1￿ by makirg inquiri¢$ lomanagemenl, those responsiNe for legal and conWance wocedures and ts t))mpany se(Yetary. We corroborated our inquiries through ryjf revièw of t)ard minutes. The engagement pather assessed Whe1h￿ Ihe uwjagement team (y)lecli¥ety had Ihe aPFwprwte com￿ence andcapabilities to hjeth ￿ recognize n0nllcom￿lan¢ wAh regulat￿￿& The a￿58ment did nol ident yissues in this area. We assessed the suscepkn"bilty of Ihe Company finanual Slater￿ntS to rnateiial mis51atemen¢. ind(Kling how fraud might occur. As a resutt of Ihe atrn procedures, we consN1erwJ the opportunilies and in¢enti¥es thal may exisl within the organisation for fratO and thntifd the gwlest potential f￿ fraud in the following area5:_ Posting of fraudulent iownals. the aulhorssation, processirg. and payment of fr￿d￿ent expenses. empbyees and manipulal¢on of revenue re¢cgnition. Identifying and assesgr#J the de$V￿ effectirn of c(rfrfr(Is man•Jemert ha$ in to pre¥¢nl and delect fraud., Understanding h(w4 those charyed wth gowwnar￿ ¢))nS￿ and adthessed the potential frx ovenide of eantrcls or other inappropriate llthjen￿ over the finarKsal reporting prctess.. Challenging assumptws aThJ jud9ments made by management in is significart accounling eslwnalg¥; Identsfyin9 and testln9ioum￿ entries, in partit2Aar anyioumal entries posted with unusud aEcount combinations., Re￿eW￿)9 expendrtwe payments." aThJ Rewewing the tThirvJ of Inc(￿ recognitKm. Because orthe Inhe￿nI limitalions tsl¥A au(lil, th¢re is • risk that w¢ il Thjt detect an Nwularities. I￿luding those leading lo a material mi5Statement in the finan<id slatements or norFcompSarKe with re9ulation. Thi5 risk iweases the more that compliance wth a law or re9￿atIon is removed Irom the events and transad¢ons reflected in Ihe finarK¢al statements. as wè N be less ￿kelY to become awa￿ of instan¢es of nofvcompliance. The risk is also 9￿ater ￿98rdIng if￿gUlaritIeS occurring due to fraud father than eNor. as fraud in¥(fve5 intentbjnal Con￿atMent, forgery, colusiLY), omission or mi$repre#elWh￿. A fvrfher descwion of ow reSp¢￿$1￿.1•tles for the ¥Ait of the finan(3al stslemenls lO￿ted on the Finartcial Reporting CouncAI's website at.. w*.froo .ukJaudit siknkn"es. Trus desuioion lorms part of our Audith. repo Pa9e 26

DrfuSvJn Envdope ID.. DDE9401c-2C624FB83￿1AlID01CCE4O LONDON GRID FOR LEARNING TRUST INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LONDON GRID FOR LEARNING TRUST (CONTINUED) of our report Ttr•s report is made solety to the thart8tAe members, ès • btr, 8cc(Ad8nce tmth Chapler 3 of Part 16 ofthe Companies Ad 2C(￿. Our audit w)rk has ￿en ￿(le￿akeTr 50 that we ffight state to the chantable companls Members those matters we are required to state tts them in an AUdrt￿. re￿)rt and for no other purpose. To Ihe fullest extent permitted by law. we do not 4￿pi or a55ume responsibility to anyone other than the clwitable coThyany and its members. as a boty. kn ow audit *KJrk, this reporL w for Ihe OFWN￿$ we ￿￿e forn￿￿. •UF?4rE91W71.. Jani¢0 MatthekbE FCA {Senior Sts1￿ audiiw) fof and on behalf of Menzies LLP Chartèred Ao7)untsnts Statutory Audil Magna House 1&32 London Road Stsines-UpthTharns TW18 4BP Date". 21-Dec-2023

DocuSKJn E￿eloPE10. ODE9404c-2c624F8￿3wlA11O$Ic¢E4O LONDON GRID FOR LEARNING TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023 Total funds 2023 £000 Tolal fund¥ 2023 £000 2022 Note In¢om¢ fr(¥n: CharitaLle actNthe$ 25.680 25.680 3&599 Total incomè 25,680 25,680 35.599 ExpendI￿re on.. Charitable acti¥￿e$ 27.771 27,771 36.108 Total expenditure 27.771 27.771 36.108 Not nw¥qm•nt in funds before other recognised 9ain8 12.091} 12.0911 (509) 0th8r recognis•d gains: Aelu&rial gains ￿ defir*d benefit Pens￿ sth¢ 2,639 2.639 1,638 Met movement In funds 548 1.129 Re¢on¢lliallon of lunds: Tolal fijnds brouw I¢￿tsr Net movement in funds 2,984 1,855 1.129 Total funds tarried forward 3.532 3.532 2,984 The ConsolKlaled $talement offfinancial acti¥ilies indLwJes al 9ain$ and h)sses recwised in ￿ year. The Th)tes on pages 34 to 52 forni part of these finaThJal stat&nents. Page 28

Ooojslgn En¥elope D.. ODE9404G-2C624FBWW1A11D91CCE40 LONDON GRID FOR LEARNING TRUST REGISTERED NUMBER: 04205579 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Flxed assets IntsThJibl• asset5 Tan￿le assets 10 1.099 1. 123 9.051 11 8.642 10,174 Current a88ets St¢xs 321 13 3.TTts 4.486 3.158 748 Cash at bank and in haTh 8.256 9.227 Creditors.. arnO￿ts falkng within onè ￿ar 14 111763) (1Z8481 Net currnnt liabilit$ 14,S07> (3.621) rotsl assets less current liabilities 4.135 Crethtor¥.' arnount$ f•MiTh3 •fter mc*È th one year 15 1603) 11.5221 N•t asmts •xeluding p•nsion a$s•t I liabillty Deffined b•nefft F)ension scheme asset11a￿.Ity 3.532 031 (2,047) Total net a$sets 3.532 2,984 age

Docu&gn Envd¢y ID.. DOEYOIG2C624F8WW1AIICp31CCE40 LONDON GRID FOR LEARNING TRUST CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023 2023 2022 £000 Ch•rity fvnd Restricted fijnds un￿$tr￿led funds 16 Designated funds General lunds 16 334 16 3.351 4,682 Unrestrided fuTh4s eX￿￿lIng pension asset Pènsth reser¥e 16 3.532 5.016 (2.032J 16 Tolal unrestrirted ftJThJs 16 3.532 2.984 Tt)tal funds 3.532 2,984 The Trustse¥ o&TrJ¥ledge thwc responwbthes for w*h the wuiremenls ol the Act with respeci to accJ)unling reo)rds end wep8r8tion offinanual statements. The finan(aal stslernents were approved and athi5ed f(Y issue by Twustees ard y9ned on iheir behall ty. Mr J Ja¢k8on Trustee Date.. 21-Dec-2023 The notes on pages 34 lo 52 frym ofth¢s¢ statem￿. Page 30

OouÉ•Jn ErNdope ID.. DLE9104¢-ZC624FB4-B33&1AIID91CCE40 LONDON GRID FOR LEARNING TRUST REGISTERED NUMBER: 04205579 COMPANY BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Fixed a$¥ets Intar¥•ble assets Tangl￿e assets 10 11 1,099 1,123 9.052 8.642 10.775 Current assèts Si¢xks Debtors Cash at bank and irt h?￿d 321 3,171 4748 13 3.TlO 8.2S6 . 9.240 Cre¢Jtofs.' affl0￿￿ lallww thJe wilhin one yEar 14 {12,7631 {12,848) Net currgnt Ilabllltj 14.S071 (3,608) Total assets less current Ilabllltles 4.135 6.567 c￿￿r(Ors'. arr￿UnIS fallin9 ￿ after than one year 15 16031 (f.522J N•t *s$tts excluding wnsion a55etl Iklbility Defined benefit penwn scheme asset I kakn.lty 3.$32 4045 12.0471 Total net assets 3.532 Z998 Page 31

Octhsign En￿r9e ID." DOE94o4G2c624F￿è￿1Al1D9lCcE4O LONDON GRID FOR LEARNING TRUST COMPANY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023 2023 2022 Charity funds Restncted fuThJs Unle$tr￿ted fwbjs 16 Des19nated f￿d$ G8n8ral funds 16 181 334 3.351 4,696 16 Unrestricted f￿d8 èxduding pension assÈt I 16 16 3.532 5,030 (2,0321 Pension reseThe Totsl unrestitted f￿d5 16 3.S32 2.998 Total fund¥ 3.532 2,998 The Comp￿￿$ net movement in thJThJs lof the yearwas £534k (2022- £1. 129k). The Trustees acknO%￿edge their Tes￿n￿b￿1￿eS ts cjynptyw thth the wuirements of the AL# ith ￿sPeCt to a¢countin9 records and preParat￿n of finanual statemenls. The financial ststements were apwowed aThJ aUth￿ISed for i5sJe by the Tru5tee5 and 5wJned on th*"r behalf by." IKS MrGHip Twu51ee Trustee Date.. 21.Oec-2023 The notes on pages 34 to 52 forn part of thÈse ffinarrAal statements. Page 32

DowS¥Th En¥elope ID.. DOE9404C-2C￿4FB￿￿1AllD91cQE4O LONDON GRID FOR LEARNING TRUST CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 £000 2022 Cash flow4 from opgralln9 a¢tlbYtyes Net cash wovided by operab.ng activibes 19 2,777 (501) Cash Ilo¥M from Invesllng a¢tlvStles Purchase of intangible assets Purchase oltangible ffixed assets 10 18201 (692) {1,770) Net ¢￿h u8od In Investlry actMtie• 12.5211 (2.4621 Cash Ilows Irom financing ¢iivltles Repayments ot Ivdses 14,15 11.518} (1,2851 Net cash used in financing acti¥ibes 11.518) f1.28SI Chonge In eash and cash equlvaltnts In the year Ca¥h and ￿$h ¢quivnts at tha be9inniNJ oflhe 11,2621 142481 5.748 9.996 Cash and cash equfvalenls •tth• end of ye•r 4,486 5,748 Th¢ notes on p•)es 34 to 52 fom part of tWffinancia staten￿$ PaT&33

DOC￿8￿jn Envelope ID." DDÉ9404C4C62-4FBW3&1A11091CCE40 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 General krfonnation LoThJon Grid for Leaming Trust (04205579) is a pirrfate dMntat4e conyny lin¥ted by warantee, incorporated in Englanij and Wales. The address of the 1•gist•red office 15 discb)sed on page 1 and it5 prinupal adivibes described fin the Strategic and DKrector5' Rewt Accounting policies 2.1 8asl$ of pr¢parallon of flnancw stal•ments The finanaal statements ha¥e been prepa￿d in ar•))rdance Tnih the Chanties SORP {FRS 102)- Accounting and Reporting by Chaiiiies." Stalemenl of Recommended Pracb"ce applicable to tharities preparing their accounts in accordance wih the Financial Reports'r¥J Standard applica￿e in the UK and RepubEc of Ireland {FRS 1021 leffectNe l Jaryjary 20191, the Financial RePOr￿ng Standard applicable ￿ the UK and Repu￿1¢ of Ireland IFRS 1021 and the Act 2006. LoThJon Grid ts Leaming Trust meets the definiticffi of a publ￿ benefft entty under FRS 102. Assets and liabilrties are iThtrdlty recognised at histOfa cost or transatlion Val￿ unless othemise slated in the relevant ctyjnting Oicy. The Con501idaied statement of fmarxial aoivibes (SOFA) and Cgnsolhdated balance Sheet con501idale th• fmarKial ststernents of the company aTra its subsidiary uThrtakn'ng. The resuns of Ihe 5ubsidsary are c¢nSol￿￿ed on a by bne basi& The company has taken akntsge of the exempb"M alk•Rd under $￿t￿n 408 of ts Cornpanies Act 2(J)6 and has not wesented As Statement of finawKial adivrti?5 in these finanual statements. The surplus ts Ihe yeaf deak vthh in the accounts of the ccthpany was £548k (2022.. £1,129kl. p8r¢M ¢nlity s#bsfi¢$ thè eriria of tièin9 a walfying entity 85 defined in FRS102 and as such advantag8 has taken not to present a cash Ibx statement or disckn$U￿S in respect of financial instruments for Ihe )mpany or to separately a93￿9ale ramunerab.on for key management personnel. 12 Cornp•ny status The eompany is a company limited tr)f guarantee. The members of the cx)mpany are the Directors narned on page 1. In the event ol the ctyrnpany being wound LV. liaknlty in resFd of the guarantee is limited to £1 per mgmber wyany. 13 Going ¢oncem The Directors are ¢L￿lent wth the posth.￿ of the company. partKularty given tr diffKLrtt ecoTh)mic ¢h'mate. The major periodic ￿frESh of the systems and infraslnKth is cornplete and there is a slable and expandin9 custorner base for the core broadband 5ervM ScMo15 and locat authoritie5. New revenue streams have been add¢d whith have fvrther bolstered the (￿npanY'S fnanrjal positson. The Directors anticipate tho crynpany to trade sustainably for the f￿Seeal￿e firtu￿. Thefe are also sufficient cash reserves. A medium temi fina￿al foTecast has been intrOdU￿d to supwt invostm)t and (wla￿la1 tjecision making. The Directors accordingly consKler that the company is a GrAry co￿e￿ for at least fvIe￿8 months from the date of approval ofth•s• ffinancial Stat•M•￿$ aThJ lh• ar£￿nts are wepared on th8 Going Conum b•sls. Page 34

DotyJ&'gn En%l¢pe ID.. 0DE9404￿624FB&B3￿lAl1D5lCCE4O LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 . A¢counting pollcies {conilNdl Z4 Income All in¢¢)me is reo)gni5ed ￿ce Ihe ¢￿panY has entioemenl to the ino)me. 1$ probabkn th?1 the Inc0Th￿ will be le￿Ned aThJ the arTr)unl of receivknk can be me8swed rel￿￿￿. Income rectNtd from Lixal Authorities sthfyJLs kn substh"ption5 and ¢£#￿r￿ul10ns to core activities is reowised n Ihe period to which it rles. Incryne invoiced in respect offvture period5 15 dèl8rred lo thai period. Income from the sale of gcds is recogrysed then the wds a￿ defNered to wstomers. Othw projed Inco￿ is recognised as receNat4e. Commis￿or￿ retÈNatle we iecowwsed as ￿nv￿ced. IS Exp•ndbtur• Expenditure is recognised once there is a le9al or conslwctNe obligaliDn to transfer economic benefrt to 8 Ihird party. it is probabk Ihal a transler of economic benefft$ bg reqLMred in se￿ement and thg amount of th obffigation w be measured ￿lwdbty. Expendrture is dassffied by aclr¥rty. The costs of each activity are made p ol the total of direcl costs arKI shared costs, inthding supwt costs ￿￿oI¥￿d in underlaking each acbvity. Direct eosts attributable to a si are dkThted di￿¢ to that adNty. Shared costs which contribute to more than one adivity and suppjrt costs whxh are not a1tr1tr￿tabY8 to a single adivty are appOrth￿ed befv￿n Ihose 8th"￿￿e$ on a ba%5 COn￿sten( ￿1h the of resI￿rceS. Centsal staff costs are allocated on the tsa￿S ol time spent. a￿1 deprec1a1k￿ tharges albxated on the por11￿ olthe asset's us?. Fundraising Msts rewesenl the trading c4sts of the crynpanls tradtng substdkry. Supp)rt costs art Ihtsse costs ir¢urred direth tn gJpport ol eXp￿d￿￿￿ M the 0tr4eds ofthe ctynpany. Expenditure on tharitable athb•s is in￿rTed on threcty WKknlakiNJ Ihe xtr¥rties which Jrther the Group's objethves, as ll as any assorjated wpp)rt costs. TÉnninati¢￿ exp&ldrtU￿ is reCO￿lSed a and an expense orty when Ihe enb.ty is demonstrably ¢ommitled either. lal lo tenninate the empbyment ol an empbye¢ or group of employee5 before the nornial retsrernent date,. or Ib) to provKle lenninati￿ beneffts as a re1¢ of an offer made in order tts encourage volurtary rethmdarKy. 2ts Intathglble assets and arnortisatton Inlangible assets COStirvJ £NIL or more are cawialisÈd and ler￿gnIsed kn fvbJr¢ •￿0mle benefits ar wobable the or of ihe as6et (w be measured relatly. Intangible assets afe reecgni5ed at cost. After recognition. urMJer the ttht model, intangible assets are [r￿Sured at C05t18ss any aC￿M￿ated amortisation any a￿￿KAaled inpairment b5ses. Awbsaiion is provKled on ntangible assets at rales Cal￿￿￿ to write off the cosl of each assel on a ¥traight- line basls over its expected usefil lrfe. Content and softwar¢ Over 3 10 5 years sts¥iyM Ine Page 35

OocJJSign EtwdopÈ ID.. ODE9404ts2C624f84-833&1A11D91CCE40 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 A¢countlng pollcies {eon11n￿dj 17 Tanglblo flx8d assets and dgpre¢lallon Tan9ible fixed assets costing £NIL or more are carAt81ised and reCgyr￿Sed Tthen fvture eD)nomic beneffits are pr¢+ja￿e and the cost L¥ value of Ihe a55et on be measured reliably. Tangible ffixed assets art inili81ty r¢tO3nised at cost. After recognitw)n. under the oisl model. langible ffixed SS5ets are rneasured al cost less accJJmulated depreuatim and any a¢￿￿Ulated impaimient losses. All costs incurred to bn'ng a I￿gille fNed a%set inlo it5 Krtended workiFWJ condi1￿ should be induded in the measurement ofo)sL Depreual•)n is charged so as to allrfate the cost of tarfjible frxed a58ets le8s their rtrsj￿ value over their estllnat•d us•fiA Ir¥•s. 09p￿ryal￿)n 1$ pwdgd on the folrying bases: Fixtuies and ffilts.ngs Office equipment Comwter equipmw 33.3% strai￿¢ fjne - 33.3% strai¥tht Ine - Over S to 10 years strai9ht fir 18 Inveslment# Fixed asset wNe¥lments are a twm ol fmancial ￿$trumen1 and art ir¥tsalty rectgnlsed at t￿"r Iransadion ctst and subsequenty rne8su￿ at fw"r vakje at the Balar￿ sheel date, unless the value cannot be measured feliatAy in which case it is measured at cost less impairmenl. In¥eslment 9ans and losses, whether reali5ed or unrealised. are comb4)ed and p￿se[rted as'GaMW(Losse31 on n¥eslrnerts' in the Consokdated statewt of finartial adNthes. InvesthAts in subsvjl￿eY we Valued at co¥t for inwairnenL 19 Stocks Stocks are valued at the knwer of C￿$t atyy net re￿￿ble value after making due alby•rnnce for ob501ete and SloW-ff￿Wn9 stocks. Cost indudes all di￿# costs an appropriate proportion ol fixed and varwble ovetheads. 110 L•abililie$ and pfoYi&ion Liabl￿e$ are Tec4)9nised wthen the￿ is an obl901h￿ al the 8aknrA $W date as a resul of a past event. it is obable Ihat a transfer of economic benefrt be wwred ￿ settlernenL and Ihe 8mount of th¢ $eiuement (an be est￿ated r￿atty. Liabiliti95 are re￿gn￿d at the an￿nI thal the antiL?pates ft pay to setlle Ihe debt or the amount li has recewed as athanced payments lor the 90c￿5 or ser￿e5 rt must prn￿de. Provions are rn8a5u￿d at Ihe b8St e5timale of the wuired to setde ihe obbgation. Wh￿e the effect the time vabje ol money is material. the provis￿ is based ￿ the present Yalue of those an￿unts, discounted at the w+tax raie that refieds Ihe n5k5 specifK to the liabdty. The unwinding ol the discourt is re¢y)gnised in Ihe Cons(4Jated $￿te￿￿# of ffinancial xlr¥ibgs a$ 4 ffinanc£ cost 111 Flthanelal instrwnents The Group onty has ffinancial assets and financial liat41￿eS of a knnd thal qualify as basic financial instruments. Basic fmarKial instrurnents a￿ initAUy retognised al transac1￿n vlue and $ubsequentty rnea5ured at Iheir setuement value the excepth.on of bank ￿an$ whth ￿ subsequenty measured 81 amortised cost usin9 th? elledbve interest methc#J. Page 36

DoDJSvJn EnydoFe ID.. ODE94o4MC624FB￿3&lAlIo•lCCE4O LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Ar￿untIng policies Iwntlnued) 112 Finance leases and hire pu￿h￿Se Assets obta.ned under hire purchase c4)ntracts finance ￿aseS we capitahsed as taftg1￿e ￿ed assets. A&sets acquired by finance kase e depreaated over fhe shorter of the lease 18m and Iheir useful INes. Assets acqUi￿a by hire purchase are deve¢￿ted ¢)¥er their usefil lives. Fin8rKe le8ses a￿ those where substanb'ally all of the beneffts and risks ol ￿ershiP e assumed by the Group. Obli9ations under such agreements are induded in txeilitors. net of the finance tharge allc81 year are diwJs5ed below. In the opinion of Ihe Truslees the main estimale and assurnption that may have a signikanl risk of eausing material adjustmenl to the carrying amount of assets and IK8bthtw the next fmancial year are in relation lo the useful life of fTrxÈd a$s¢ts. whrcll afe vrtitten off ii accwdartt with Ihe arnortisation and dewec4ation policE$ set oui in note 16 and 2.7. The Valuath￿ of tt pension scheme assels and liabilit is ¢#rried oul by thè scheme actuary bas￿ on various assurnptions and estimates. D•tails are wen in Note 22. Page 37

Dcu&gn E￿lOPe IO.. DDE94O4&2C624FB4-B￿lA1lO91CCÉ40 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ' Incorn• frorn chorliabk a¢tiviti•s Unrestricted Totsl fvnds 2023 £000 Total fvnds 2022 2023 £000 Main LGIL Irthmè LGIL Managed ser￿1￿ LGL IncoTh BrKl9e the DivKle 20.739 20,739 565 20.488 422 3.656 720 5,524 g.q65 no 25,680 2S,680 35,599 rotal 2022 35.599 35.599 Analydis of expenditixe on charitabte activitses Surnrnary by fvnd type Unrestri¢tsd lund$ 2023 £000 Tot•1 2023 £000 Tot81 2022 £Ot Main LGIL LGfL Managed LGL Incorre Bridge The thv*le 22.8 434 21895 434 22.033 153 3,541 3.541 901 4.524 9.398 27.771 27,771 36,108 T￿￿202? 36, 108 36.708 Page 38

DO￿S4￿ EmloFe ID.. DDE94O4&2c624F￿8￿tA11D9lCCE40 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Anatysis ol expendlfyre by aclivitios A¢tivilies undertaken directly 2023 Support costs Total 2023 £000 2023 2Q22 Main LGfL In￿[re LGIL Klanaged Korr LGL IrKome BThJge The Dwtde 19.635 3.260 150 22.895 434 3.541 901 22.033 153 4,524 9,398 111 23,6e6 4,085 27.771 36. 108 Total 2022 32.075 4.033 36, 108 Anaty¥is Of support ¢0sts LGIL Managed S•rvi¢es Incorn• LGL In¢crfne 2023 2023 Ilain LGIL kneorne 2023 £000 Brid9* the DlvTrde 2023 Èooo Tot•1 funds 2023 £000 Total 2022 Net penS￿n scheme finance coststineome 83 2.282 253 68 2.063 Staff costs 1.813 201 320 Promotions Rent. Eledricaty and Rates Other Vofes￿l fees 10 18 67 13 478 453 14 10 371 740 Repair5 maintenan Other office costs Insur? Other GovemarK• costs 28 411 63 80 71 327 15 11 402 49 109 11 45 56 78 3,260 19) 4,085 4.033 Tot•12022 2,486 933 Page 39

DoJJSpJn E￿elOPe ID.. DDE9404C-2C624FB4-833&1A11091CCE40 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysi5 of expenditure by activilie5 Icontinued) Analys1$ of $upport¢osts (cont1n￿lI During th• y•af •rKltd 31 March 2023. thè comw Ir￿rTed the fdkn*i9 Go¥emance e05t$". £45k12022.' £45kl uKluded within the labte atove in respecl of Main LG￿ Incorne. £8k in respect ol LGL In￿rne. £2k in res￿ ol Br#Jge The ONide IrLcome £1k in respect of LGIL Managed SerV￿e3 ItK(ne. AuditoTr' remuner¥lion 2023 £000 2022 Fees payatle to the arKI its a680CAates for Ihe audrt ofthe companys ar￿U81 accounts Fees payable tts the companws auditor and rts ass￿1￿te¥ in resped ot. All rtorwdit servtrs not induded ab)ve 32 29 12 11 Staff costs Group 2022 Company 2023 £000 Company 2022 2023 Wages and salariès Soaal 5ecunty tosts Operakng c£•sts of defined tenefft p￿slon schernes 2.524 Z430 260 1524 290 2,430 260 870 782 870 782 3.684 3.472 3,684 3.472 The a¥era9e number of pers￿￿ wrwoyed by the cThmpany thJnThJ the yeaTwaB as follthvs.. Gn 2022 Comyny 2023 Cwany 2022 No. 41 2023 Nrx 42 A(kninistratNe ¥laff 41 42 Page 40

D￿S￿jn En¥dopE ID.. DDE9401c-2￿24F￿￿3￿-IAl1[p31cCE4o LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 The numbw of empw Those ernthte benefils lex(JJiThJ emrAoyw pens￿￿ costs) exceeded £60,0(M) was.. Group 2023 Gmup 2022 Company 2023 Company 2022 In the band £60,ff11- £70.000 In the band £70,IK11 - £80.IX In the band £80.001 - £90.( In the band £￿.￿l- £1￿.(￿￿) In the band £140.tX11- £150.CrfJO In bank £160,(M)1- £170.1 Remunerathin ￿ ben￿ received by key mwa9ement personnel was £966k12022.. £727k}. rrustees. r8mun8rativn and expenses Durin9 the yw, no Trustees ￿e￿￿ed any reMw￿ration or other bw*ffts (2022. £NIL). Durin9 Ihe year ended 31 Marth 21r23. ￿ Trust￿ ¢xpertses have been irrJJrred (2022- £NIL). I￿ Intsngibh assets Group and Company Content & Softwa £000 Cost At 1 April 2022 Additions 4.761 820 At 31 Marth 2023 5.581 Amortisatbon At 1 April 2022 Chafge forthe year 3.639 At 31 March 2023 4,481 N•t book Value At 31 Marth 2023 1,11XI At 31 ma￿ 2022 1,122 The net book value of assets held vrxler finan￿ or hye pwchase ts)ntrts. induded above for the group and company, ¥e £65k12022.' £305kl. Page 41

Énvdope10." DDE94o4C.2C624F848￿1A11O91CcE4j LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 11. Tangibk fixed assets Group •nd Compory Flxture5 and fillings offi¢0 equiprn•nt £000 Computer equipmÈrtt £000 Tot•1 £000 Cost orvaluation At 1 A￿1 2022 Addition¥ 52 32.102 1.665 32.213 1.701 32 At31 Marth 2023 63 33.767 33.914 Dgprvciation At 1 A￿11 2022 Charge for the year 41 23.063 3.204 23.161 3.210 At 31 Marth 2023 26367 26.371 N•t book valuo At 31 2023 39 7.500 7,543 At 31 Marth 2022 io 9.039 9,051 The net book value of a$5ets helj under ffinan￿ ￿e9 or hire pw(*ase contracts, induded obove for the group and company. are £2,050k12022.. £2.760kl. Page 42

LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 11 F￿¢d asset It)vtstments Piin¢ipal subsldiarios The ¢h•rity ty•m$ lo￿￿ ofthe ryain￿ sh¥¢ ¢apttal olthe folryir¥J ttrfnp8ni¢$. Names Company Registered offK• or number principal place of business Princip•l •¢tivity Included in ¢on$olidation London Grld kn"ftMi¢d 05122783 glh Fkjor. 10 Exchange SquawÈ Domwnt Primrose Street, London. England. EC2A 2BR Let's Get Di9ital Limited 11158329 9th Fbor. 10 Excharge Squwe The 0￿￿Y has not yet Yes Primrose Street. Lonth tegun trading. England. EC2A 28R Yes The financial resuAs ofthe subsJiaries forthe ye* wer•". Namos Expenditur• £000 London Grid Linyled 14 All Ihe frAed asset investrnwts We I￿j in the United Ifjngml￿. Both subgthary cwanies O)rnwrt in the ￿. Page 43

DcuSbJn En%ElopE ID." DDE94D4G2C624FBty8338-1A11D91CCE40 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 13. Debto Group 2023 Gffjup Company 2022 2023 £000 C¢ynp8ny 2022 Due after rnore than one year Prepayments ￿ a¢uued irKcrfne 1.376 1.376 1.376 1.376 Due tmthln one yeai Trade debtors ArT)unts owed by group vnd•rtakirvJ5 Prepayments and a££Th￿ irornè Other d¢btor8 3SO 1.155 350 1.155 14 1.525 478 1.433 1.524 478 3.770 3.158 3.770 3,171 14. Creditor5". Amounts falling within one year Grt￿p 2022 company 2023 £000 C￿lp&nY 2022 £000 2023 Trade uethtors Other taxalion and social security Obli9ations under finance lease and he pw¢hase 4.972 3,886 71 4,972 71 1.267 39 1.213 22 6,498 1.267 39 7,SOO 1,273 22 Other uedrtors 6.498 12.763 1Z848 12,763 12,848 Group 2023 £o¢Jo Gw Company 2022 2023 £000 ¢¥np•ny 2022 ferred al 1 Aprl 2¢)22 Resources deferred duinj the y Arnounts released from PTeviovs per￿$ 5.929 6.421 1S.9291 5.856 5.929 (5.856) 5,929 6,421 15.9291 5.856 5.929 (5,856) 6.421 5.929 6.421 5.929 Deferred rewesents am¢yts iivottd in respeL* of bro•Jwd tharyJes other seThices which relate lo fijtufe periods. Page 44

D￿s￿n Envelope ID." DOE9401c.2C624F84-B3￿lA1lo9lCCE4O LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15. Cre¢4tors: Amowts lalling due after more than ¢)ne year Grnup 2023 £000 Gw 2022 ¢￿panY 2023 £000 Company 2022 £000 Net ot4i9ations under ffinance lease oTrJ hre purchase contracts Aet¥uals and ¢Jelerred income 10 593 1.522 10 1.522 593 603 1.522 603 1,522 16. Stst•mwrtoffund* Slatsment offunds. cwrgnty•af Balance at 1 April 2022 Tr¥n$f•rs inlout £000 Galnsl Balance at 31 ILoss•sl March 2023 £000 £000 Income Expen(fiture Unrtstrl¢t•d Oeslgnated furbts Pan London Admissirffi¥ 334 56S 1419) 181 General funds Gènérdl Funds Ncfrcharrtable tradiry fvnds Penson reserve 2S.115 (26.894) 3.3$1 14 12,0321 15921 115) 1650 25.115 127.472} 419 2.639 3.3S1 Total Unrestricted fund¥ 25,680 (27.771 2.639 3.532 The trustees have set aside ￿rp￿SeS 9eneraed trom Ihe Pan LoThlon Adnus5ion5 adNity for the ertharKemènl of Ihls service. Page 45

￿￿￿$￿Jn Erwehjpe ID.. DDE94O4C-2c624F8￿￿3￿1AIIO91CCE40 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Slat•ment of I￿*15 Icontlnued) Ststsmont of IwKls. wioryear Balance 8t 31Ma 2022 £000 B8lanc8 at l Apn"12021 Translefs Gains/ (Losses) Unrestrlcted funds Deslgnated lunds Pan Londc Admissions 422 (108) (330) 334 Gemrnl General FuThJs N0￿CharItable IradiThJ funds Pension reserve 35.178 (35.315) 330 4,696 (141 R984) (14) (2,032) 1686) 1.638 3S. 178 (36,th)lJ 330 1,638 2,6 Total Unrestrlthd 1,855 35.6 (36.109J 1,638 2,984 17. Swnm¥y offunds Swnmary olfunds- currnrt year Balance at 1 April 2022 £000 Galnsl Balan￿ at 31 (Losses) March 2023 £000 £000 Ineomg Exp¢ndiiurè £Of inlout £000 Desiwated l￿d$ General funds 14191 419 2S,115 (27,4721 2.639 3,351 25.680 127.7711 2.639 3.532 Pa9e 46

Dowsiqn En%tbpe D." DoE9404CQC624FB¢83￿lAl1DglCCE4O LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17. Summary of funds Iconlinued) Summ#ry ol funds- prfor Balance 6t 31 Ma￿h 2022 rAnsfe Gain (L&¥se$) l Apnl 2021 De¥i9nated frJTrJs General 422 35.178 (108) I36.￿1) (330) 330 334 2.650 1,638 1.855 35,600 136.109) 1,638 2.984 18. Anaty618 of net assets between lund# Analysis of net assets bet4¥een funds-cuvrent year Unrestricted fund8 2023 £000 To¢al funds 2023 £000 Twgit4e ffixed assets Intangible fixed assets Debtofs due after more one ye Current assets Credrtors due wilhin one year C￿dItOrS due in mwe tlw one 7.$43 1,099 1,376 6.880 {12.763) 1603) 7.843 1.099 1.376 6.8BO 112,7631 {603) Total 3,532 3.632 Page 47

)cuSMJn En%e ID.. ￿E$lO4&2t624F￿&83￿1Al1Q9IeCE￿0 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 19. Re￿ncilIation of n•t moTMnrt in fimds to nt ￿$h flow Irom operdkn9 acttvll•es Group 2023 £000 Gmup 2022 Net expenditwè ftr Iht year las p Ststement of FMwKral Adr¥rfiès) 12.0911 (so>} Adjusknethts for. Depreuation thorges Amorti5ation charges Oeryeasellinueasel n stocs De￿aSe1(￿l￿a$eI in detrkefs Increasel{decreas81 in tteditors Current pension 5er¥ice o Defined benefft wsion Kheme ¢rrfrilxrtKm paid Net In1eresUfinan￿ o)st 3.210 e43 321 1614 2,923 547 r321) 4,057 (7,899) 967 870 1341) 63 (334) Net rA$h provided byl{used In) operating 4di¥ities 1777 f501) 20. Ansis of cash and eash equivalents Group 2023 £000 Group 2022 £OL 5.748 Cash in har T•)tal ¢a$h and cash equlvalents 4.486 5,748 21. An*si$ of ¢h•nges in nel debt At 1 April 2022 Cash fiows At 31 March 2023 £000 Cash at bank and in ￿nd F￿an￿ leases 5.748 12.7951 11,262) 1,518 4.486 11.277 1953 256 3,209 Pog8 48

L)ts¢uSlgn ID.. DDE9404C-2C624FB¢93W1A11D91CCE40 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Pension commitments Priwpal a¢￿￿1a[ aSsumpti￿lS thg Bnc sheet date (expressed 0$ wg•Jhted avLYagesl.' At 31 March 2023 At 31 March 2022 DIS￿Unt rate FutL¥e salary increases Futu￿ pen&on ir￿lease$ 75 3.45 19$ 2.75 3.55 3.15 Th8 trust is an admitted body to the Royal Borough of Kingston UF4Jn Tharnes PensKn Fund, a mults'-employer pension knd in ￿1th there are many partic¥path"ng empby￿S. The disckisures relate to the lunded liabilrfies wrthin the Royal Borough ol ￿ngS1on upon Tharnes penS￿n FuTrJ Ilhe 15 part of Ih? IDcal govemment pension scheme. London GI￿￿ IOT Learnin9 Tntst CLGFL) Part￿PaieS in the fund ￿lch provhle5 defined benefits, based on members. ffinal ￿s￿ble salwy. In accordance Financaal Repo￿"n9 Slandard 102 distsure of certaD) ￿￿ormati￿ concerning assels, liabilities Inc￿Me an¢J expendiiure relatin9 to pertsKxs is required. The EmF4oyerfs regul¥ contribulions lo Ihe FuThJ for the accounbng pe(iod to 31 Marth 2024 are estimated to be £359,000. In addrtKn. Strain on Fund Conln"trrtrtKn$ may be required. The latest actuarial valuèkn ol LGFL'S liaknbbes took F4ace •s at 30 June 2022. The prmupal assumptions v$ed by th¢ independèni guafified acti￿1￿ in updatrb3 th¢ valuatth of th¢ fvTrJ for FAS1￿2 purposes are detaled bel¢)w. LGFL emt4oys a t￿ apwoath ￿ delwn¥nirwJ the rale ol retum on Fund asse￿ Historical mathets are stthjied and assets lugher volatdty ￿ assumed to 9enefaie hwJher retwns cortsistent with widety accepted capital market wnaples. The as5urned nte Of retum on eath asset dass is set ¢yJt willwn tfvs note. The overnll expected rate of retum on assets is then derived by aggregalry the expeLled i•tum for tach asset da55 over the actual asset allocation for the F￿1 at 30 June 2022. At 31 March At31 March 2023 2022 Yea Ye815 Morlality rates lin years) - for a me aged 65 r￿W - at 65 lor a male aged 45 n¢J¥ - for a female aged 65 n¢y - at 6S for a fem* a9ed 45 r 23.2 23.2 21.7 22.8 24.1 25.9 Page 49

D¢¢uSign E￿elope D: DDE9404C-2C624FBWW1A11091CCE40 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Penslon Commltsnents {¢oniinued) Thè Gre￿P.$ share ofthe assets in the srhemg was.. At 31 Mar¢h At 31 Alarch 2023 2022 £000 EqiMtse5 Bonds Property Cash 6.181 3.197 959 6,312 3,209 749 428 320 Total fai¢ value ol #ssets 10.657 10,698 The actua relum on scheme assets was £201k (2022- f201kJ. Th• aMO￿ts recognised in Ihè C•nsolKlated ststsmènt of f￿anti#l aclNitNs are as follows.. 2023 £000 2022 Currerrt a>sl Interesl in￿rne Interest cost 870 {2991 362 967 (201) 269 Total an￿Unt recognised In the Co￿￿dated statement of financial activities 933 1,035 Movernents in ihe wesent Value ofthe defined benefft owation were as fi￿lOw$.. 2023 £000 2022 £000 Opening dofined Current servKe cost 12.745 870 12,614 967 Interest (x)st C¢)nlributions by scheme pbclp￿ts Aclvarial gaw)s Benefits pad Experience adiuslment 362 175 {3.1981 11561 269 170 11, 1451 (7301 Closlny defined ben•fft obligation 10,478 12.745 Page 50

Oovjslgn En¥efope ID.. DDE9I04G2C624F84-83￿1AI1DgICCE10 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Pension ¢ornmitrnents leonlinued) Aovements in lh• fair vak olthe Grow's share of stheme ass8tswer• as lonows.. 2023 £000 2022 Opening faw vaje ofscheme assets Expeded retum on asstrts Actuarial {bJs5e$ygwns Conlribution5 by ¢m&tyr Conlributions by stheme parficips Benefrts paid Experience adJustTh￿t 10,698 299 9.630 201 (5591 341 493 334 170 175 (1S61 {1411 (130) Closlng falr ¥•lup ol seh•mè 8s•ts 10.657 10,698 As at the 31 March 2023. the posit¥)n of Ihe def￿￿d benefft ¢bligats"on wag a 01 £1.435k. In line th19 FRS 102 treatment the surp￿$ has n(rt been rern9ni5ed. Therefore the derecognrtion value of £1.435k is induded wlhin 9ainsth)sses above. 23. Operalln91?ase cornmllrnents At 31 March 2023 Ihe Gioup and the c(Mnpany had commibnents to make fijtwe minlmwn lease paym￿1$ under neTr¢ancellable operatiny leases as fckns.. Cornpany 2023 £000 C¢%npany 2022 £000 2023 2022 Not laterthan 1 ye Lalw than 1 year not later S yews 392 392 1.175 392 783 392 1,175 783 1.175 1,567 1,175 1,5fj7 The foknYiThJ base payffnts have been r•cowised as ¥A) experw in the Ststement offinancial activiti￿.. Group 2023 Éfjoo Gr￿p Company 2022 2023 £000 Company 2022 Operating lease renlals 392 392 392 392

D¢￿s￿an ETrvelope10.. DDE9404G2C624F8W3&1A11D91CCE40 LONDON GRID FOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Rdated party tsart6a¢tions Due to Ihe nattxe ofthe TNSYS operab.ons yoc¥ring serthces ￿ behalf of the Local AutFb)ritie$ and the compoytspn of the Board of Directors Llrawn Ihe Local Autlvths rt i8 Th¥i¢able that IransarAion$ take Pla￿ wth org)isatsons in whith the direclors have an interesL No specffic transath.ons have been ￿entified where a thre¢aor has an invehement and whith shtyJld be d15dosed as a relaied party transactson. At 31 Marth 2023 the Trust was ¢Med £Nil12022'. £14kl by its subgdiary company London Grid Limited. Donations to the Twst by London Grid Lumrted in ￿SpeCt of Ihe year alr￿Unted to £Nil12¢)22.. th'11 and management charges to London GThJ Limrted by Ihe Tiust arTh)unted to £Nil12022.' th11. Pemiission has been obtaI￿d from the Chanty CorThmission in order ￿ pay for Ihe professional services of the Chairman IP Robinson). DunrMJ the year £8,162 inthdiThJ expenses were for these seNi¢s12022'. £8.1121. No ¢n￿￿￿rnents w ¢xpgnsesww¢ PaKI to any olher dire¢ior duriwwJ the ￿rrent or prec•dirwJ year. The Twst has indemThty insurance and insurance to indemnify the thrertors and emplryees of th? Tw5t C05ting £11k {2022- £11kl forthe Per￿d. 2& P05t balart• sh8etè¥ents &nce the year end the Trust hps ent￿e￿ inlo a contracl wdh 118 sup￿er of bro¥d￿d to Èequire Ihe rthork Used. The cost of thi$ is approximety £33.8 m whth VAI paid off over seven years. There will be commensurate savings in ¢ost3.With the broalband ￿p[￿"er so overall is expecled to be ¢051 neLrtral. or better. during th8 payment period. aftei whth, tsro￿band suww costs ￿11 fall si9nificanty. Thi$ will enabk LGFLT to athteve its aim of becKJming a Sern￿ Provid￿ rather than just selling on seNces from third parbes and enable it to provtde enhan￿￿ services to Sthoo15 al lower Cost. The contract enaL4es LGFLT to increase its broadband speeds to hools lo a maximum of 10 Gtps at inuemental Cost. This enables LGFLT to have a mafket leading position as wdl as rneeting Ihe needs 01 5chods as Ihey transthon to the cbjud servKes and rewife inueasirvJ levels of bandwidlh to rneel the needs ol a nh)d¢m. thgitaly driven, C￿l￿￿m. Pag8 52