2021-07-31-accounts - The West Buckland School Foundation

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Coiw)any rvgistration nui]kner: 04475523 Charity registration nuiitrr: 1096487 The West Buckland School Foundation IA LOIIViliiy liJi]iied by gwanieel Annual Rep)rt and Fiimllcial StareI1ll for the year ejlded 31 July 2021 WEST BUCKLAND SCHOOL FOUNDATION

THE IVEsf BUCKL.4ND scHL FOLtNDATION CONTENTS ReterenLe Athilinistrative tktails Trustees, Rewrt 2to7 Ststei]rnt of Trustees. Re%yin%ibilities I11dndent Exdn]iner's RvtK)rt Stsiei]rnt of Financul ALtivilivs BdlanLe Sheet Iotoll Noies to the Financial Statelln(s 12to29

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION REFERENCE AND ADNItNISTIL4TITrT DETAILS Chariti" Regi5tralion Number 1096487 Compan!" Regi51ralion Number IM4755?3 The LhaTiry is illLnrp()raied lli Engla1 and Wales. Wesi BULKIld We51 Buckl)d BARNSTAPLE Iki'un EX3? OSX Registered orfiee Accountants Gloi'vr Siaiibury Chartered ALLoulltants 30 Bear Street BARNSTAPLE EX3? 7DD Solicito Wollei]s Avery. House Litn) Rwd Ruuiids'H'ell Business Park BARNSTAPLE tkvon EX313TL Bank'ers Virgin Mi)ne5' 40 Si VinLeiii PlaLe GLASGOW GI 2HL Page I

THE IVEsf BUCKL.4ND scHL FOLtNDATION TRusfEES' REPORT Tlie trustevs, wlio are direciors t'or Ilie purp()%e% ot L()tnp4lliJ' law. pre%enl Ilie ailliual rvp()rt l()gether witli the tllfdncial staleiilents tor Ihe Llwitable Li)iiydn) tor ilie elided 31 Julj 2021. Trustees and officers The trustevs Jnd oftiLers serving during the and since the end MTere as follows: Trustees: Mrs L Wakefield (Chair MrWHGeen The Counle55 of Arrdn MBE DL Mr M Wi¥hth¥m Dr T Bigge Mr M J Hallnatord Mr H OrLlwd-Li51e Mr S Sn)ith Mrs B Ddly Mrs A D Webb Mr K R UndevXI Mr J E CIM)[ laPtx)inled l JUarY ?0211 Mr D J SedgwiLk Idpwinled l Augu%1 ?0211 Statement of Trustees RestK>n5ibilities Tlie Irustevs (wh() are also the direLiors ot Tlie West BuLkIdJ k.li(K)l Founddtioii for the purp(i%es of Liiiiwdnj l<il4'1 are restK)n%ible tur preparing the tru5tees' MUdI rvp(irt dnd ihe fiiiaiiLMI ytdteiiI]lS in dLLurdaiiLe H'ith the United KingTdi)ni ALL1)until Sunddrds Iuiiited KiiigTd()m Generiilly ALLepted ALLiiuntin¥ PrdLliLei and dppIiLdble laii, and regulÉi1i()$. CiTrnwiiny law requires the truslees to prep4ll¥ staten*iits for eaLh fil1cl ear. Uiider LIIIIIPdJlJ' Idll. the truslees inu5t not appri)ve the tiiunLial stdtel1I]ts unless they are Sdiisfied ihal Iliey gFive a true tdir Vi¥. ot ihe State ot Jtiaipi Ot Ihe Lluritable L()IllP<iny dnd ot its. IllLOlllltLg' Te50ufLes dnd iippIiLaiiiin of TesourLe& inLluding lis ulLuI1 and expenditure. for ihdl rI{KI. Iii preparlng these funCIal statenK the trustees are required t(Y. seleLt suitable acL()untin¥ p()liLiv% and dppl )' thvni L(?IL%i%tenily' L)bs'erve the i]rtliuds pr]nLipl in the Clurilies SORP; INke judgenrnis estuiutes that are renable prud¢llt' sl&ite wheiher appliL<ible LTK ALL(iuntin¥T Siaiidards. hdve been t(Illi)wed. subjvLI Io iiuleridl departure% disLlused aiid expldined iii Ihe t-llunLial statenriits. and prep<ire Ihe t-IllIa1 SlaleinIS on Ihe going coiicern bdsis Lbnless it is ppr()pT1ate to pre%uii thdi tIIv Lliarildble c()[np). H'ill Lunlinue in business. Page 2

THE IVEsf BUCKL.4ND scHL FOLtNDATION TRusfEES' REPORT Tlie trustevs are Tesp()n%ible tor keeping adequdle dLLiTrUnIll recor(ts IlLlI are sutticieni to slioM'. aiid explain tlie chariiable LI)[npS s Tr15ac110lls aiid disclose ii'.iili re&sonable dLLufdLS' ai ÉUIS, iiiiie ilie ta1]ll1 p(Trsilii)n ot the Lluritsble LI)nip75. and eiidble Iheiii lo eILSUTe Ilidt tlie t-Illia1 ststeIi]eiitS Lllii]ply' H'iih the Ci)iiwanie% ALt ?(M)6. The). also re%[MISIble for S£lfvgTU4d1li ihe dSSets ot ihe Ch1Vable LIIIIIPdnJ' Jnd henLY tor Llg renable steps tor the preventi( deteLtIOn Df fraud diid otlier i¥¥uL1[1e$. Structure, governance and management Nalure olgoverniNg docuinenl Tlie Wesr BuLkIld SL'liwl Founddtion is a L(lnIp1. liiillied b), ¥UdT4llilee and it is gTI)I'erned by its. Meiiiurdiiduni AlliLles (Ft AsSLKUtion. The L()li]Pdny was inLI)rtX)Tdted 2 Jllly 2(K12 and Tegi%tervd as a Lhdrilj. troni 12 MdfLh ?(K)3. Organisaftonal 51Tucfure Tlie We4r BuCkI)d k11)1 Foundatio the Fnundation. v.as set up tor Ihe benetit ot tlie Wesr BuLkIld SL'liuol I Ilie SL'h(M)I I, d LhdTilJ" Ihdl pri)I'ide% eduLdlion tor pupil% dgTed 3 to 18. Tl)e ,rk ot tliv Fuunddlion IS Ldrried out by d tull tlI] Fuunddtion & Aluiimi DireLtor. dSSiSted by £1 Founddtion & AiuIi]ni OffiLer dnd a Pdrt-lin* FiiwLe Oller. The iwrd of trustvvs. who nEet qudrterly. are re%[X)¥1b1e for ultinule strategiL decisions haviiig LU o) J TegTiird to ddi'iLe troni the Fuunddlion & Alu117 DireLtor and uilier adi'isors. Tliere 15 DO stdtut()ry

z u Tequirennt to hold an dmiudl gvnerdl nEeting. Ivhere I'aLdiiLie5 dfi5e the trustees will Éipixiinl O <( < Tepl<iLennt trustevs truni w'iiliin Ihe w'ider k.liwl Li)IiiniuviiiJ" UT 11,ho have speLifiL skills diid experleilce that it Is telt would be usefvl on the Bd. Tru51ees Ii'ill. unless ihey reslgii or are Teiiiuved bj. a vote ot the other direLiors serve tor a terni ot 3 A trustee slull not serve for iik)re ihdii 3 LonbeLuiive [1]15 uDles5 it is otherw'ise dgTLYd b), the uiher direLtors. Major risks and Munagemeni of those risks The Irustevs have tred the principal tUllLtion of the Foundation Loiisider thai ihe w)59ible risks tu wlllch die Fouiidaiion is exed are n]illili]ised subjvLI i)nly to noriilll invesiiiEiit risk. Tliese risks are to be reviewed 4illnudily. Objectives and actiiities Objects and aims Tlie i)bjeLts ot Ihe Fi)UVKldtii)n. as Set uut in the Meinoranduni and ArtlLles of A%s(KiÉilioii. are to pri)iiiiite tliv Lharitrable purp()%e% ot tlie Wv5t BuLkldiid k.liwl. Bdrn%uple. tkvoii dnd L)Ilierwise to pri)iiiote any other charitsble puttx)¢t LonlleLled wilh or 01henvi asSled with ihe SLbwl. Page 3

THE IVEsf BUCKL.4ND scHL FOLtNDATION TRusfEES' REPORT Objective5, 51n1teeS and activities Duringy the year. the Founddtion office was staffed by the Foundation & Alui]mi DireLtor diid ibe Foundation & Aluii]ni Otiicer. The Foulldaiioih otlice conilliued 10 Irdve Ilie services ot Ilie Scliool's Fli)iCe Assist1[ tor dppr()xiiiutels' one da). a 'eek ivlio ii.'orked oil accouiits tor botli ilie Fouiiddtioii diid Ilie Old West BuLkId A551Kution IOV¥ BA i. Tlie Fuuiidatioii aiid Aluiillii Director Tepiirtvd to Ihe Chair of Tru51ees dnd the Prv5idviit of the OWBA and I]t weekly witli il)e SLliool's DireLlur ot FiiidnLe aiid 01[1{)% ti)tllliyiil)' u.iih the k.liwl's Heathiuster. Tl)e Fouiiddtioii ottice inet Te¥ularlJ NN'ith the M¢wketiiig alld Athi]issiolls' depdrninL% alld worked Lli)sel)' willi ilie ArLliivist. Wesl BuLkIld SL'IiLK)l Founddliun iuntuiues to Lwrd1le fundrdiNiiig lliilidlles oil [lIa]f of ihe SL'I)uol. Tliese tuiids eble ihe k.liwl to ini'e5t in sei.eral pic)ieLts. Ull j.e¢. wIiiLli ei]liaiiLe diid enriLh the eduLdliol experlence tur our students. During ?020121 there was iio iiiajor LÉlPltal fundraising caiiu)aigm. Soi]r of the slIr pri)jeci% tunded troni dOtiONS include new video equipniii for tlie Drai Dvpartiirnt. a p()rtiible kv)'b(UTd tur the MusiL Ikpami*iif. an el¥LtriL kit car for Iksign dnd TeLlini)l()g)'. new Snurt Tvs tur the tmwding houses and a tivld shelier for outdLN)r leaniiiig dLlii'ilies. Fi)Illi,]ng7 Oil troiii Ilie previous s'edr. Ilhe Fouiidaiioih []17ed Ilie West Bucklaiid School Covid-19

z u EiiieTgevLJ' Fuiid. The Fund Wds Set up to 51st P<irenls ot WBS pupil% M'lio had tell iiu)s1 %ei'ei'ely O <( < dfteLted by Ihe Lrisis. Iii the ?O?O/?O?I t-llunLial )'WdT. the MTesi BuLk]aThJ SL'liool Covid-19 El1]eTgeY Fund Pdid out £87.1ffl towards. sLhwl tees. supp1)rtil 42 pupils. The Founddliun's Bur Fund of £2Jiii Lonlillues to pmvide inco11 to help %upp()rt ihe Founddtion's Bur%dry' Pr()gT<ill1ii dnd in the last touneen pupil% thr(IUgTh()ui il)e SLli()ol TeLeii'ed IOOIA burwies NUPtM)rted ji)indJ' b). the Founddlion dnd ilie SL'liool. These IrdnsforiiuiioI bursdries are tor entry. into ye 7 uiitil the eiid of ilie Sixtli Forin. The deteriiui)dliuii ot Bur£. studenis to hleve their tM)lentidl li) ever), wa). the), L4111. dnd take advdntsgie of every. tspp)rtuniiS' Ihes. tiiid. p)Nilii'.el)' in)pacL4 on eN'¢ry' pari ot our SLIILKII Liiiillnuiiily. £36,53i lus been priii'ided iii ?O?01?O?l II) tiirdiicial .%upp()rt troiii Ilie Fouiidatioii to eirdble Iliese Bur%£4TS swdeiiis to ae1)d Ihe Scli(N)l. To help Ilie Scli(K)I during Ilie P<indeniiL. scliLNIl tees ti)r tlie Fuunddlioii's burs<1ry' swdents 'ere Pdid in ad1'de and the Founddtioii sup)rted ihe SL'huol with the exird Losls of Cuvid. Over £2in hds tell pledged tu the Founddtion In legaLie%. A kvy Pilrt of the Founddtion's w'ork is to NUPtx)rt the Old West BuLkIdJ A55]dtIn IOWBAI and its aLlii'ities. inclLLdingi reunions publicati()tLk Togiethei IlTe LoiilliiuiiiLate the &spiiatii)n8 L)f ihe LliiNIl ti) 3luiiini, pentI, tnni]er pdrenl% aiid nilier n*iiihers (Trt Ilie We%[ Buckl3iid L()IilliiunitS 211d urgTdIiise evviils to iiivoli'e ei'erJ'i)ne iii the lite ot Wesi BuLklatbJ .11()1. Uiit()miiiÉilelJ. Iiuiiy OWBA evvnts hdd tu be LdnLelled ur p(liltx)ned due to Covid rvsifiLtions. howeN'er ihe OWBA TedLhvd out and LotnnwniLdled TegUl¢1Y with aluiimi Ibe 'Ider sLII(MA L(Iiiunuiiity. At tlie AGM in July 2021. LULY Wakefield Chair of Trustees dnd Hug() OrLhard-Lisle beLdlif VLLe Chair. MiLhael Doth.rd reiired as a Trustee and Ddvid SvdgwiLk was dPPI)iV)ted as a Trustee. Jereijiy C{K)r has Iell on a bba1]L1. PdgTe 4

THE IVEsf BUCKL.4ND scHL FOLtNDATION TRusfEES' REPORT Public beneJ The Fuundalion provides on-going supwrt tur the sLIiiM)l tht()ugh burwies whiLh brwdeii access aiid tiiriliers tbe puryxisv% ot tlie LhaTilJ' tor Ilie wider publiL benetii. Tbe Foundaiioii also raises Iii)nvJ' tor Cdpitsl pr(yjects ]d general sch] equipnrni. These also llet1[ Ihe wider Li)inniunity as exter1 gTilUP% access the tdLililies ot Wvst BuLkId SLknwl. Tlie trustVVS Lonfirn] thdt the). hdve c()n]plied with the requirenLs of 5VLtion 4 of ihe Chdrities ALI ?011 to due r¥gaTd to the publiL lDefit guiddnce publi%hed by ihe Cluriry Coi]lli]ission for Eli¥1]d ]d W'dles. Achiei'ements alld perfornnce Tlie results tor die J'e<ir ]d the clwil) S t-llLincial tK)%ili()n at Ihe eiid ot Ihe year are sliowii iii tlie dttaLlied tllldllLuI blatellnIs. Despite tlie IdLk of a iiujor fiJndrdL%illgT CdliwaiLl. and the need fur d Covid-19 Elirgve1]LS'. Fuiid, tujids ot £83,435 Luiitinued to coll iii troIii reg7u1 gii.'er& th ddditioii. tliere There legTdLies InMiuntingT to £123,612. C( Z As at 31 Julj. ?021 the Fuunddlion Bursary Funds. under illvesti]rnt rnÉli]dgvntni were Vdlued <lt LU o) J £2.3.](. Other e15 i inLludingi nx)nes' r1ng-feed fur capit21 projvLtS dnd bur4driesl lotslled

z u £154,300. Ikspile Covid-19. all tuiids are perti)niiing ii'ell. aiid Ilie Trustees are hdppy willi ilie O <( < tlliaiiLuI p(TrNilii)n ot the Fouihdaiioii and its dbilii) to sUPtx)rt Ilhe k"li(M)l. Ini.-esiiIil1 mlie[s Siiiiih & Willmiibon Loiiiiiiue lo re%tMTrtKI tM)%itikvlJ' to the Trusiees. reque%1 to preserve L<ipitsI w'hile pri)i'idingT iIILO1I tor bur5dfitri and Ilieir pert()rnunLe is N'iewed d5 g7(x by tliv Truslees. The pert(Trrne ot tlie bur%41ry' 1]d is L()n%i%teiitlJ' iiwniiured. and ilie liii'estiiiii MdniigTer% Tewrt tu the Board at least tw'iLe a j.el. Should deL'isions need to be tskeii out of 1110se li117%, this is Larried out by the nuilted Trusiees for eaLh aLLnuiif. PTesided over by ibe Cluiriiuii. Well BuLkId k.liwl Luntribuled £79.?72 towdS. staff and adIi]iiiiNtrdtioii Lusts. inLurred b), Ihe Fouiidaiioii. As iii preN'ii)us )'edrK not all work undertdken b). the FoundJtiuii cali be dir¢Ldy attributable to tundTaisingT as Fouihdaiioih statt coiiiiihued io NUPtM)rt Wvsl Buckl School iii Iiuiiy areas, iii PiITtILuli N'ith Ilie BurNdry' Pr()¥rdviin. Ihe En*rgenL)' Fuiid aiid Ilie Old Wesl Bucklalld As'suLMtion IOWBAI. This is esiinuted to be appri)XiillÉltel)' 40% ot dll work. The Founddliun Lontinues to ()rdle in Éi diffiLult eLODVIMiL Lliiiute but will strive to lllLredse its. bur%dry.' tuiid by increaslng rebTu14 dunJiion& eiicouraging onv-oft doiidtions dnd ",(rkIng Iuwdrds eiicouragTriiig legaLJ' plvdge%. The ddtsbase is eiubliJ]g the Fuundaiiun to LoiilliwiiiLdte iiK)re efteLliN'vly' w'itli as w'ide a LIIIL%tituetLJ' as tM)%%ible. Tlie Peniuneni Ei]du.1]li1 FuIid 1st MiLhael's aiid ,41dn Cait). Fulldl is invested on a total returii basis ]d details ot this Lan toulld ai Ihe elld ot ttoie L6. Page 5

THE IVEsf BUCKL.4ND scHL FOLtNDATION TRusfEES' REPORT Poliey oil reserves Reserves are tu be held at a suILl¥t level wheieby funds" can be doiuled to ilie Wesl BuLklatKI SLliool tu help Th'ith Ldpildl pr()jeLl% bursaries. Surplus tuiids ot Ilie Fouiidaiioii are iiivesied llSlI)g liii'esliiienr Fund MdnÉigTeN 1io-.eVer. sutticieihi cash reseTh.'es are neLes%drils' 11]ainoiiied to P£i)' Founddliuii burs<1ry' pupil%' tees edLh sLbiM)I teriii. The are P<iid troiii BuTSdr)' Fulld divideiids iii ddditioii to de%1¥ndled dOtIons. Tlie incon)e and pr()penS' Ot the charily shall applied si)lely iowards Ihe pmin()ti()n ot ilie ObC[S aiid iio Part shall be paid or I[terred. direLilJ" or indireLilJ". bj, waj. ot dii'ideiid, tMliiUS or utlierwise by way (Ft pri)tit. to ineiithrs ot the Chariry. EaLli regi%tvred 5hdreholder of the charity undvrtdkes lo Luiitribule nounts. Ibui not exLeediiig £10) luwdrds the bettle11t of the ch7[) s debis lubiliiies if it Is ..Ouj up. If there are futlds reiiuiiiiiig dfter bettlenlent of all debts atKI lubiliiivs. this will be trat]sferred to dnoiher Lluri(y hdi'ing biiilllar i)bjeLt li1vesten1poIicY aiid objectives Tlie trustvvs are pertnitted tu ini'e5t IiK)iiies not IdIale1), required for its. purp(i%e% iii or UP()11 SULh inve%innt. seLuril)' or pl()rts. of 2n5. nature and ii) 1. part of the world diid wliether jiiiw()Iving' liabiliiies or pr(KIuLing' iIicoii or not as Ihe Lhdrii). slrdll ii) lis discreiioii Illli til to ilie LU o) J extent Ilui tlie Ll]driry shall have tlie SaI1 tMiiiier% in all re%lL$ as it 11 IlTere Ilie absolute owner aiid

z u benetlLidlly entitled. (J (n Financial instruments Objectives aiidpolicies The LhdTily'S dLlivities eX1)e it to a nui]trr of risks- inLluding Lredil ri%k, ch flow risk diid liquidilj. TiSk. The use ot t-Lia1 derii'aiii'es is gI)Ver b). the LlidritJ"'s p)IiLie% Éippr(Iked by tliv iK)ard ot Iruslees, w'hiLh pri)i.'iik wrillen prinLiple% OI) Ilie use ot flluiILial derivatii'es to Ii]iiiliige Iliebe Tisks. The LIrit). d5 not use derii'dlive t11la1 insiruIlnts fur speLul31ive puqxTr%e8. CashfloH' risk Tlie LhdTltJ s inVes1nt JLtiiJilivs Y eX1)e il to the t-ll]anciai risks. ot Lhaiiges in ti)reign LufTenLy exLhdngTe Tatvs and interest rate Credil risk Tlie LhÉirily s prinLipal funCIal Sets are ballk bal L<i%h. trade oiher rvLeivdbles. dnd iiivestiill1s. Tlie Lredil ribk on liquid funds. derii'dtive fiiunLial inslruI]lIts is liinited 'auSe ibe Ll)unterpffiie% are ballks Th'iih high Lredit-Tdiin&% dsNigDed b). inierllaiional Lredit-raiin¥ agencies. Tlie LhÉirilJ' hds nu Signiticant LOnLentrdtion ot Lredit risk, with eX)u[e %PTead over a large iiuiilber ot Ll)unlerpdrtie%. Page 6

THE IVEsf BUCKL.4ND scHL FOLtNDATION TRusfEES' REPORT LIqulty risk lil urder to i]uintain liquidity. to ensure that sutfiLieDt funds- are avdiidble for ongoillg iip¢ratii)n8 and tuture dvve1l)pnn1, tlie LILwil)' uses a iiiixture ot li)ng-terni aiid short-ienii debi tiifdiice. Furilier details re¥ardin¥ Iiquidiry risk can be tound in Ihe ALLI)unling Policies iii Ihe t-lllaiicial stateiiiellts. Small comtwiies provision statement Tliis rep()rt hds been prepared In lrdance wilh the sn]all coiiwanles reg111 ullder ihe Cniry)iinies ALI ?006. Tlie rewrt was iwpr()ved by the trus1ees of the Lharit), on ?2 April 2022 dnd %igned on its. behdlt bj: Mrs L Waketield (Chairl Trustee Page 7

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION INDEPENDENT EL4I¥IINER'S REPORT TO THE TRIISTEES OF THE M:EST BUCKLAND SCHOOL FOUNDATION {'THE COIIIPANY") I TetM)rt to Ilie Lhdritj. tSleeS on ni). exaii]inaiioll ot Ihe accouiits ot Ihe Ci)nwdliy tor the year elided 31 JLLI) ?O?l. RespKbllsibililies and of rep)rt As tlie LhaTiry's trustees ot Ihe Ci)IllPdny la] also its direciors tor Ilie purtK)%es ot Ll)IllPÉiny lawl yl)U &ire Te%tM)n%ible tor the prepall1)ll Ot the lOunt5 in &LurddiiLe with ihe requirennt% Dt. Ibe CiTrnwanie% ALt 2(m)61't 2(K)6 ALt'). Having tIStI¥d lliyself thdt the aLLOUDts of The West BuLklaiid .1]1 Founddtion are not Tequired to be dudiled uiider Parr 16 ot the ?(M)6 ALt and are eligible fur indendent ]11all1)i1. I rvp()rT iii TespeLt ot in!.. exdiiiitlull ot j'iiur Lli<tTiI! s aLLounts as Ldrried out uiider selli] 145 ot ihe Clurilies ALI ?oii I'ihe ?011 ALI.). In carri-iilg out nij. e.li]Inall01) I follo,ed il)e DireLliuns given by the ChaTltJ CuiThi]ission under 5VLiion 14515Mbi of the ?01 I ALL In(kndent examiner's statement SlllLe The West BuLkId k.liwl Founddtion's gri)%5 ll)coiI]e exceeded £250.(KM) yi)UT exaiilliier iiiu%t be a liri1r of a tKKts.' listed in seLtion 145 ot the ?011 ALt. l Loiifinii Ilidl l aiii qudlified to uiidertdke Ihe exaiiii1Iull beL'Ju I 17 a i111r of Ilie Insiiiule ot Chartered ALLouiitanis lll EiigTlillid Wdles IICAEWI. whiLh is one of the listed tKNJies. I hdvv L()n)plered my exalltion. l LoiifiTni that no tter5 hdve Con to iiiy dttentioii iii LU o) J LOlllieLtiuii w'illi the exaiillnation gii-.ing Ii)e cause to believe: l. acci)Ulllingi reLords' Th'ere nut kept iii res[ of The Wesl BuLkldiid .11()1 Foundation as required b5 beLtion 386 ot Ihe ?(M)6 ALI. or 2. the dLLounls du not dLLord with those reLord&' UT 3. the dLLounls du nut ci)tnpl)' with the aLL()unting require1]nL$ of 5VLtion 396 of ihe 2006 ALI L)ther than TeqU1rent that the aLLounts give a 'irue ]d fair vie... whiLh is not a Iiuller Lonsidervd as part (Ff an indendent exdmindri()n' or 4. ttie dLLuunls lui'e not been prep<ired iii aLcorde I1111 Ilie ii*ihoMts aiid prinLiple% ot ilie Staieiiieiii ot RecoillllIIded Praciice t'or dLLiTruJilllig aiid rvtK)rtiiig b). clharities lÉippIiLÉible to Llidrities prepdriiig, their aLLuunts in aLcord.e with ilie FlluiILial RvtM)rting Stdnddrd iypIiLdble in the UK RepubliL of Ire1dj IFRS 10211. I ILqve no coihcerns and have Con across no oiher i1]aerS in CO]eCTIo11 widi Ihe exaiiiiilatioii to wliicli atteiitlon sliould be drawn in this retx)rt it) order to enable a pr(Iper undvr4ldiidlll¥ Ot ilie dLLounls tu be TeJLhed. K Tonts BSL FCA Ilistite of Chartered ALLounlanls in Englalld and Wales IICAEW 31) Bear ,Street BARNSTAPLE EX32 7DD 22 April 2022 Pdge 8

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION ST ATENIENT OF FINANCI,4L .4CTII"ITIES FOR THE YEAR ENDED 31 JULY 2021 {INCLI,TDING INCOLIIE .4ND EXPENDITURE ACCOUNT AND STATENIENT OF TOTAL RECOGNISED GAINS .4ND LOSSES) Total 2021 Total 2020 Unrestricted Restricted Elldoiiinent Note Incolne and Endoiiments from: tkiiidlioi)s diid legTaLie% Other Iiadingi dLIji' j[ jes InveslIi*nr incoi 121.869 ?89 69 197.498 319.367 ?89 .785 148.726 7.394 65.002 58.468 2.?48 Toidl Incoii i?? ??7 ?55.966 2.?48 380.441 ?21.122 Eipenditure on: RJislligT tuiids. Cluriuble dLlivities Other exndIre Toldl Expendiftire Gainsllosses on investhlent dssets 1618) {11.4771 145.A31 Ill3.9) 180.3631 (6391 {12,7341 (19,3851 1159,4931 1315,3451 180.3631 171.1461 {1?6. j241 (1?5.4?7 16391 I252.5)> (405,876) 2?3.638 21323 245.461 1104.0351 LU o) J Net lexndire1Iin¢0n Net n1)vent In Mnds 14.2971 3M.177 ?3.432 373.312 1288.789 14.297 354.177 23.432 373.312 1288,789) Reconciliation of funds Toldl thiids bri)ught furwdrd 86.173 1.975.392 109J?7 2.171.(y)2 2.459.881 Toldl thiids Larried fOrwd 16 81.876 2.3?9.569 137.959 2.544.404 2.171.092 All of the cluriry's JLtivilies derive troniconiinuing I[all(l8 during the alx)ve IWO li(KL%. The tunds bredkdomffi tor ?O?O is show'n in tlole 16. Page 9

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION {REGISTIL4TION NUllBER: IW7ii23) BALANCE SHEET AS AT 31 JULY 2021 2021 2020 Note Fixed assets Ini'esriIl]rS 13 2.5.1{ 2.0?0,492 Current assets SiLKks Debiors Ch at bank in hdnd i.o?0 5.838 154.252 1.020 13.159 I43.9 14 161.110 157.728 Creditors: Amounts falling due Mithin one l'ear Net current assets 15 16.8101 17,128 154.31M) 150.( Net assets 2,544.404 2,171,092 Funits of the charil).: Endoiimenl fullds 132.959 109.527 LU o) J Restricted income funds

z u Restricted tullds Unrestricted inco]ne funds Uiwestricted tuiids 2.329.569 1.975.392 81.876 86,173 Total lullits 16 2.544.404 2.171.092 Page 10

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION {REGISTIL4TION NUllBER: IW7ii23) BALANCE SHEET AS AT 31 JULY 2021 For tlie finCl year endin¥ 31 Jul). ?021 the LhaTiI)' was entitled to exen]pti()n froiii dudil illlder 5eLtioii 477 ot the C()mpdnie% ALt ?(M)6 rvl<iiing to siiEIll coiiwai)ie& DireLlors' TesyTrlbI11tie The ii]eiiibers hdve not TequiTed the Lharily to ubtain an audil of its. dLLouiits' for ibe ye iii qUe41iiTrn in dLcordance with section 47& Tlie direLtors dckn1)'led¥e Ilheir res[M)1bIIliie tor Li)n]plviiig ii'.itli Ihe requireiitnts ot ilie Act 'iili TespeLt to dLLI)unling TeLords' the prepiWatii)n ot aLLOUlIts. These dLLuunls hdve been prepared lll aLcorddtL'e wilh the proi'i£ions appliLable to coiwailies ubjeLt to tlie biiull coii)panies regi11. Tliese tllLiiicial slaleiirnls luve been prepared ii) accord]Ce ii'.iili Ilhe .speLidl provisioils relÉiling to coii]paiiie$ 4ubieLt to The sii]all coli]panies regll)k withill Pdrt 15 ot Ilie fj)n]panie% Aci 2006. The ficl sl<ilen1s on Pd¥V% 9 to 29 were appri)ved b), the trustee5. autborised for issue on 22 April 2022 signed on their tl1f b)- O <( < Mrs L Waketield (Chair) Trustee Page 11

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 I CHARITY STATUS Tlie Lli<iTltJ is a Lhdri15.' liniited bj guarantee and cnnsequev]tlJ' not have share Lapital. Each of tliv tru%tvvs is lidble tu Luiitribule an aiiK)unt not exLeedllig £10 i0,d5- the assets ot ihe Lhdril} ill tliv event of liquiddlinn. Tlie prinLipdl plaLe ot'busilless i& Wesl BuLkldiid SL'h(Mil Wesl BuLkldiid BARNSTAPLE Devon EX32 OSX These fill1 slalenrnts. were duthorised fur issue by the trustee5 on ?2 April 2022. 2 ACCOUNTING POLICIES Summan" of Significant accounling wblifies and k-ei accountinge5timates Tlie prinLiPdl ilLLI)unling' p(iliLie% applied in the prepdratii)n ot Ihese till)Lial StatenlI. dre Set out below. These p()lieie% have I#ll c()IL%L%tenilJ' applied io dll the years PTe%enled. unless uilierwise 51dled. Statement of compliance Tlie t-a1]ll1 slaleiirnls hdi'e been prepared iii LrdanCe witli ALC()unting and Re)rtIng by (J (n Clurilies: Suleil11[ ot ReLOnllinded Praclice IdppIiLdble lo Llurities preparii)g iheir dLLUUlIts iii dLLorddiice with the Fl1 Rep()rtill¥, Sunddrd 2ppliLable II) the LTK dnd RepubliL Ot Ireldiid IFRS 10?11 il%%uvd in (ki0r 2019 Iclidrities SORP IFRS 10211. Ilie Fin1claI Re)rtI1]g Staiidard dppIiLiible lli the UK RepubliL Ot Irelalld IFRS 1021 alld Ilie Ci)ii]P4inie% Aci 2006. Basis of preparalion Tlie Wesl BULkIld SL'hwl FoundJtion tneets the defmition of a public liri1 enriry, under FRS 10? Asbeis ]d liabililivs are inilidllJ' rthi)giiiNed at historiLal Lust or IrdllSdLtiOll N'dlue ui)less utlierwise slaled in the Televant aLLI)unting p)liL J. note The Lhdrilies functio1 dnd pre%entati()n Curre), is the £ stvrlin Going coneern The Irustevs Lonsider that there are no i]uteridl unLVrtdillties aix)ui ihe Ll]iiTify's dbiliry to Lolltinue as a goii)g concern nor Y signiticant areas of unLertainry thdt affeLI the carryiivg Vdlue of <issets' lield by the Lharilj.. Eiemption from preparing a cash floil" stalenjent Tlie Llidritj. i)pled to e1 J ad()pt Bulleiitl I publi%lied un 2 February 2016 dnd have iheretore not ii1Lluded a Lds11 tluii. blaleil11[ iii Ihese t-llunLial suieii*nts. Page 12

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 Judgements Tliere are no judgennl% which Ihe trustees have iikide in Ihe PT(Ke%s ot applying Ihe ¢lCL()Ulltllig p()licie%. K. source5 of estimation uncertain Tliere are iio kei.. sources (Ft trillliulion unLVrtdiilt)' that bave a signifiL41nl risk of causiiig a iiuleridl djusiiiriii to dssels dnd Imbiliiies to be diSLlosed. Incolne and endoiiments All lllLO11 IS TeL()giiiied OllLe the charilS' hJ5 enti1lvnllt to Ilie iIlLoine. it is PTnbable ihai ibe iIILuiiie M.'ill be received Jiid the ]Ut ot the inLOil reLeii'able LaIi be i1ured rvlidbl)". Donations and legacies tkiiidlions are TeL()gniied 'hell the charits. has en notified in Ting of [}th the anu)uiit dnd sellle1it date. In the evvnt thdt a dOlI0n is subieLt lo Loiidilions that require a level of perti)rtn£cv by the LhaTlt) ttore Ihe LhaTilJ' is eDliiled to the tunds-. the iiicoine is deferred dnd nut TeL(IgTiii%ed uiiiil eiilier those Lundiiiuns are tullj" lit. or the tulfdiiiii of those Loiidiiioiis is wh(Illy wiiliiii ilie Loiiirul ot Ihe Llwi15' ]d it is priTrbdbl¢ tkui Ihese Lundi(iutLS H"ill be fUIt-ed iii ibe Te}rti1]g, peri(xl. LegTaLy gitis are TeL()¥ni%ed a Ld5e bs. L basi5 tolli)wing the grlt of pri)bate when ihe LU o) J ddiilllli5tratorlex¥Luior tur the estate has LOlilliiulliLdled iii 11.Titing tmltli the aiiK)uiii and seitleiiienl date. lil the event thdt the gift 15 in the turni of Set uiher than OT d flllaiicial dsset Irdded on a TeL(IgTiiiied blLKk exLhange, reLiigTnili()n is NubieLt lo Ihe i'alue of the g7ifi tIng rvliÉibls" iiied%urdble (J (n willi a degree ot Teoble dLLuf¢KJ' and Ihe lille lo Ihe dsset lul'li ell trdiisferred io ihe Llidrily. Grants receivable Graiiis &ire TeLI)gnisvd wheii Ihe ch7[5. hds an ell1iileIilI[ to the tuiids- diid ¢lli)' LoI)dilions liiiked to tliv gTdnls hdve beeii iiiet. Wliere perti}rne Loiidiiions are alldLlied to the gTraiit diid are yel lo be Inet. Ihe income is TeL()gniNed as a lidbilil). inLluded OI) the baldiiLe slieei as deferred ii)coiiie to be Teledsed. Doiiated services alldfacilities Wliere services or tl11t1#S are pri)vided io the Lharit), as a dOtiOn ihai would n()Tnully be PulLISed fruiii our %upplierK this tllerit is inLluded in the fllunciai ststenllts. at it's fdir Vdlue uiiless it's tair i'aIue Lannot be Telidblj. nrasured. Ihen at Ilie Losl lo Ilie doiior or tlie resale value ot TIK)ds dial are to be sold. Eipenditure All e.1ndItUre is Tee()¥ni*d once there is a legal or lotructive i)bligati()n to ihal exndInIre, it is pr()bdble settle1ilIt IS Tequired the atwunt call be i1ured relidbls,. All Losts. are allted to the iwpli<ible eXndIre hedding that aggrvg4ile sin]]1 Losts lo that Lateg()ry. Raisiiigfuiids Tliese are Lusls incurred in attraLting v(pluntJry income. Ilie tllanagvntnl ot llivestti]eiits alld iliose iiicurred in trdding 2ciivities that raise ti]nds. Page 13

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 Charitable aclivi¢ies Chdriuble exndin¢ conwrises those Losts incurred by the clwiry in ihe delivery of its &tiiiities aiid services tor its beiieticiaries. Ir inLludes tK>th L05ts Ihai cali be alliKated direLdy io sucli aciiviiies ]d tthose costs ot an illdireci nalure neLNd, to suptx)rt Iheiii. Granlprovisions Provisions tor gtanis are i]ude w'hen the intellTlOVI to IiEike a &y[lt hds iyen LoiiuiiuniLated to ihe Tecipient bui diere is unLertdinl)' atM)ui eiiher the titning ot Ilie gr11 or Ihe diwunt ot gTrdlli Pilydble. Supwrt costs Suppi)n Lo%ts inLlude Leiiirdl funLtions and knie all(Kated to dLtii'ii)" Lost LdtVgTiirie% where LUSIS are %Lif1clIS. illLurrvd. N1)n-%Lif]L Losts hdve not been ail(Kdted dgi11%1 dLtii'iles. whiLII is LOllSiStent H.'iih previous )'edtS. GoT¥ernance costs Tliese inLlude ihe Losts. attribuiable to the Lhdrit) S Ll)iiu>lidllLe with Lollstiftltional dnd %tatut()ry Tequiren*nl%. inLluding audil. StrategiL gent and trus1ees's n]vetingT% ]d reiiiibursed expenses. c( z Taxation Tlie LhdTitS.' is LUi15idered tu pas% the tVSts svt out II) Pldgrdph I k.Iiedule 6 ot the FiiuiiLe ALI ?010

z u diid iherefore it ineets tlie de1-Illll ot a Llidriuble Li)IllP¢inj" tur UK LI)TtM)fdll()n tax purp(i%es. O <( < ALLI)rdingl)'. Ihe Lhatil). is p()ieniialls' exeii)pt troiii ts[10n ii) resLI ot ll]COii or Lapltdl gains received Th'ithin Cdlegi)rie% covered bj. Clidpier 3 Pdrt 11 ot Ihe Ci)rtM)T<ili()n Tdx Aci 2010 or Sectioii 256 ot tlie Taxation ot ChdfgTedble Gaills Aci 1992. to Ilie exteni Ilui sucli llicoine or gains dre dpplied exLlu%ivels tu Lliariidble purp()%. Tangible fixed assets Iiidiwidudl tixed assels are initially reLor(kd at ci)M. less 2ny subsequ¢ni dLLunwldted depr¢¢iation aiid lubsequent acLuAiiulated itry)4iirtnent losse& Deprecialion and amortisation DepreLi<iti()n is priTri'ided on ITIble t-Lxed ¥t5 bo ds Io WTite off Ilie Losl OT Vdludtii)ii, less Éiny estiiiuted Te51dl fvdlue, over their extL¢ed useful econoinjc life as follows: Asset clL&s Furnitiire equipnnt Deprecialion method and rnle IIK)% ot nei IMM)k Vdlue Page 14

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 Fixed asset inTr'estments Fixed assvt iiivesiiiEnis, oiher IlLin pri)granM related uiveslliEiits. are llicluded at iiwkei value <lt tlie balaiice slieet date. Realised glig and losses QI) ini-.esiill1[S are calculaied as ilie ditiereiice belweeii bales priKeed% aiid Iheir iiurkei I'dlue at the Start ut Ihe )"edT. or Ilieir sub%equeni LllSt. dlld are chdrgvd or Lrediled tu Ihe Statenlent ot Financial ALiii.'iiies in the [liK1 of di%p(1Sdi. uledI15¥d galns and Iossvs Tepre%ent the tnol,ennt fn Tket vdlues during ihe yeaT dnd are Lredited or Lhdr¥ed tu the Suieii*iit ot FliL] ALIiI'iIiVi b¥d oIi the Iiurkei N'dlue dl il)e edr eiid. Stock StuLk is vdlued at the lower (Ff Lit dnd estilted svlling price Ivis Losts to Ll)n]plete and sell. after due TegTdrd for L)bs'olete Jnd sluw nvIng st(Kks'. Cust ts delern]illed uslng the first-itL firsl-oui IFIFOI. Trade debtors Trd& debiurs are Jnwunts due troni LU5tomers fur nyrLhalldI sold or senTices rf(1rn in ibe iirdiiwy. course ot business. Trade debiors are TeL()gniNed iniridlls. at Ilie [rCTIo11 price. The). are 4ub%equeiitl)' iiieasured at di11)rted LOSt usingF the etteLiive iniere5t lith{MI less prui.'isioii tor iiiWdini]eiil. A provisioii tL)r LU o) J tliv inip<iiTllftit of trade debiors 15 eSidblished when Ihere is <)bjeLlive evideiiLe ihai il)e Lhdriry will

z u nut be dble to LolleLt all m)Ur5 due aLLI)rding to the i)riginal tern of ihe rvLeivdbles. (J (n Cash and cash equii"alents c1] dnd Lh equiidleni% coIi]prise 5h on hdlld ull depIL5. and oiher short-ierin hi¥hly liquid liivesliillis thdt are reddil). Lonvertible lo a kwwn lI}Unt of Lh and are 4ubjeLt to an iJLsignitlLdnt Tk ot Lhdnge in i'alue. Trade creditors Trdde Lredilors are iTrbli¥ati()n% to Pdy fur g(MKl% or services that hdve been acquired in ihe i)rdindry course ot business troiii %upplierK ALLounls pdl'dble are Llassified as lu[re liabilities if ihe LliÉirify dues not hdve an unLondiiiol right. at the end of the rvtK)rting [1(MI. to defer svttleiiriii L)t ihe L Teditur fur at let twelve iiwiiihs Jfter the retK)rtin¥ dale. If there is an unLondiiiuiul riglil to defer 5elllei1t tur at Thi"'elve iij)iiihs Jtier Ihe re)[11, dale. the). are preNei)ied as noii-Lurreiit liabilities. Trd& Lredilors are TeLI)¥nL%ed iniiullj. at the traIaCtIOn PTiLe dnd subsequeiitly nEasured at di11)rted Lost USlVlgF the etteLlive interest ith{MJ. Page 15

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 Fund structure Uiwestricted inconr tunds are generdl tuimts thai are available t'or use at Ihe trustees discrelloii iii turilierance ot tlie (TrbieLtii:e% ot Ihe LhdTiry. Restricted incoii tunds are i110se doted for use In a pdrtiLular area or for %lfiL purtK)s, Ibe use ot w'liiLII is TestriLted tu thdl area or purp(lie. Periiuieiii endOwnt tunds are Iliose dLquired IOT which Ilie tnistees hdve no tMlW'er Io Lonvert ihe L<iPital intu inLonr and inLuIir is to be Used tor a speLifiL PUryM)se. Ihe use of wliiLIi is TestriLled to Ihdt PUTtxiNe. The ternts ot the dLqUL%itii)n required the ¢id()ptii)n ot ihe loLIl Teturn Ippr()ilLh tu invesft1]eiit Ihai the Ldpitdl should be preri.ed in relatioii lo intlatioii. Financial instruments Classificatio FInl1 assets Jnd tinL1 liabilities are reLI)gnised when the Ll]iility b¥L'oli5 a Pdrty to ibe LuiilraLtUdl proN'isloiis of tlie in5mJnient. FinL1 liabiliiies Jnd equits. instrUnnts are LlJ5sified aLL(ITding to ilie 5ubs'tsiiLe of ihe LoiitraLtUdl entered into. An equitj. instru111]t is an), LontrdLi ihal evidences a residudl iiitere5t in the d55els of the chaTlt)' after deduLting all of ils liabilities. c( z Recognition aiid measuremenl LU o) J Ail fU1]cIal d55ets' Imbilities are iniliall). Iwasured at trdnklLliOn price linLludingi irdllsdLtion

z u Liis1% I, exLept tor Iliose tilLcial 5¥t5 classitied as dt tair value thri)ugh pri)til or loss, wliicli are O <( < initl<illy' iiEasured at tair i'alue IwhiLh is ni)TnullJ' Ilie [ra1CtIo11 price exLludiiig Iraiisactloll Lll%ts1, (J (n uiiless tlie iIrrdn¥rennt LO1litU[es d tiiunLing [ranLtI017. It dn drrang7enn[ Loi]51ituies a tIll)lIng Irdlls<LeiiiTrn. the t-lIa1 asset ur tuwiLial li4ibiliiJ' is Iasured at ilie prvenl Vdlue of ihe fijture Pilyiitnl% disLounted at a nwket rate of interest tor d Sllnildr debi in5tniiit. Fil]Cial assets and liabiliiies are I)15. otisei in the Stalenlit ot fil]Cial p)sAiii)ii wheii. aiid iiilly wlieii ihere exists a legTdil) enforLedble right to svt uff the reLii¥iii%ed ainouiits diid il)e LliTlIed when and i)niy when a) the LoiitrdLtual righL% lo ilie Lasli flows froiii ihe fiiidiiLuI dsset expwe or are seTtled. bi Ihe Llurir). transfers to dnotlier part), %ub%Vdl)lially all ot tlhe rlsks ld rewards ot (DI)ershIP ot Ihe tiiLincial &%sei. or L I Ibe LIrit,. despile haiiiiig retsllied soiiie, bui iiot all, Ni¥nitlLdnt risks and reii'ards ot l)WllVT%hip. IS Iraiisterred coiitrol ot ilie Isset to dnoiher party. FIcl liabilities dereci)gnid ()nlJ' when the <)bligdtii)n speLified in ihe LuiitrdLt is disLhdrgTvd, LdllLelled or expire& Page 16

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 Debt instruments Debt insirunn1s whiLh n]vet the ti)Ilowing Lollditions are sub8¢qu¢lltly n]easuTed at dnK)rtised Lust using The ettective interest nEthod= (al The LontrdLwI Teiurn to the holder is l il a tixed anM)unt' lill a [MlI1ve fixed rale or a KS111Ve varuble rate; or liiil a COnl[lOll of a p(liirive or a negiltive fixed rdte and a [MlI1ve vdriable Tate. Ibl Tlie LontrJLt Thy pri)iii(k tor Tep3v*t% ot Ihe prinL W411 or Ehe remrn to rlie holder Ibui not b(ithi to be liA)ked to a Nin¥le relei'ani obsern'able llide.x ot geiierdl price iiitlaiioii ot Ilie LurreiiLs iii whiLh the debt instrUnt is deni)minated. pri)vided SULh lit5. not leveraged. ILI The LunlraLt may pri)vide tur a de1ernb1e vlatIOn of the return to ihe holder during ilie life of tliv instrun1, pr()vided thdt lil the new rate litieS Lulldition Idl diid the vartio1] Is nut LiiiilingTenl on tuture ei'enls other Ihdn (l > a Lhdnge of a LontrdLtual N'druble Tate; 12110 pri)teL T ihe li()Ider d¥dlIL%t Lredit deieriurJiion ot Ihe issuer. 13) Lhdnges in leie5 dpplied bj, a Leiitrdl bdi]k or arisii)g troiii Lhaii¥es in Televant tIon or Idll or i li I the Ile.. rdle is a nurkei Tate ot inlere51 djid lisfivs Londiliun ial. Idl Tliere is no LontrdLrudl provision thdt Lould. by its teriiis. rvsuli in Ilie holder 108itigy ibe c( z prinLiPdl TrUnt or anj. lliieresi auribuiable to Ihe Lurrvnt [lIK1 or prior pvriiKL%.

z u lel ColltraLtUdl pruvi5iL)y]s that perniit the issuer lo prepay d debt instru111 OT rni11 ilie holder to O <( < PUI it bJLk to ilie issuer before 1[11. not Li)ntiiigent uIi tu(ure ei.'enls. uiher thdii to pri)teL T ihe iiolder il¥dlIL%t the Lredit dvteriL)rdtion of the i55uer ur <1 Lhdnge in Lontrol of ihe issuer. OT to priTrteLI tliv Iiulder or issuer dgT<iitLSt change% In levies applied by a Lentrdl bai]k or arising from Ll)dii¥es 111 Telev[ 1101] or Idll.. It) CL)ntrdLtUdl prol isions tntl) pernllt the exien5ion of the terIii of the debi in%frUnt. priii'ided tlidl ihe Teturn to ihe hulder and ans. oiher LoiitrdLlual proNisioThs dppliLable during ihe exleiided teriii luiii ot die casli or otlier LUilSideratioii ex[Cted tu be Paid ur reLeii'ed. net ot in]P<linil. With thv exeeption LFf hedgTing Instrunt5. Uther debi instnints not n*eiing ihese Luiidiiions are ilfd%ured at tdir vdlue IhTI)u¥h pri)tii or luss. Coiillllltlinis tu iiuke Jiid receii.-e lo5 which tneet the LotKlitiotLS nlItIoned alx)Ve dre nasUred at Lust IwhiLh iiu5 be llill less in1pliI. Page 17

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 Inveslments Investntnis in nun-Lonvertible pr¢fer¢nL¢ shares nOll-pubIe i)Idinary or pr¢f¢ren¢¢ SIr¥S (where sliares are publiLI) traded or dieir t'air value is reliabl), tnv41AufÉible l are ii]easured Élt tair value ihri)ugTh priitit or loss. Where t'air value callnot liasUred reliÉibl)'. llivesttiieiits are 11]edsured at Lost less inipdlrnn[. Fair value measuremenl Tlie best evidence ot tair value is a qu()ted price tor an ideiiiical asset in an aciive iiurket. Wheii qUl)i¥d priLes are UvalIdb1¥. the PTiLe ot d rvLeDt tralLCl1()n tur ideiitlLal dsset PTI}iiides evideiiLe ot fair value as liin¥ as Iliere hds not en d %igTnifiLdVIt LI]£inge iii eLoiiuiillL LifLuiiistsI)Les or a %igTnifiLdnt Idp%e of llll]e billLe the trdnsJLiion twk pldLe. If the nwkei is nol dLlive diid reLeiit transdLtiO% ot an iden(iLal et on Iheir 07) are not a giMKI estiiiule of fdir vdlue, Il)e fdir N'dlue is esliiiuled by using a fvdluation teLhnique. Page 18

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 3 INCOME FROIII IKINATIONS AND LEGACIES Unreslricted funds General Restricted fun(ts Total 2021 Total 2020 tkindtions dnd legaLie%' Dondliuns frutn individuals LegFaLiVS Giti Jid TeLldiiird Graiiis. inLludingT L<iPital all1 Grants fruiii other Lharilies Dundtvd servlces fraLilities 9.519 73186 123.612 83.435 1?3.61? 34.893 7.424 6.)5 30.(KK) 79.?72 30.(KM) 79.272 30.0(K 69.51H 1?1.869 197.498 319.367 148.726 4 INCOlE FROI¥I OTHER TIL4DING ACTIIITIES Unn%tricled funds General Total 2021 Total 2020 O <( < Tradingy inconr; Sdles L)f giM)d% servlces Events inconr; Otlier evenls incon s)%()[$hIp incon)e ?89 ?89 287 5.(t)7 ?89 ?89 7.394 5 INvEsTlENT INCOL¥IE UDTestricted fun(Ls General Endoiiinenl funds Pernwenl Restricled funds Tolal 2021 Total 2020 Inlerest Teceivable dlld simil liieoiiie. Iiiterest TeLvivdble on bank dvp()%il% Otlier interest Teceii'able Other inLoii]e t'roiii tiKed Set Invesliill1s 43 26 43 26 546 58.468 ).716 61.456 69 58.468 (rf).785 65.002 Page 19

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 6 EXPENDITURE ON RAISING FLTNDS A) COSTS OF GENEILITING tM)NATIONS AND LEGACIES Unre5trieled Total 2021 Total 2020 General Other direLt L05ts ot generating vi)luntary' itiLOtt 618 618 7,435 B) INvEsTlENT TrL4NAGENIENT COSIS Endominenl Tolal 2021 Total 2020 Restricted Pernwenl Other investnEnt ngllnt Lust Adiillnislrdliuii ot the investi(5 11.477 639 12.116 11.950 11.477 639 12,116 11,950 O <( < 7 EXPENDITURE ON CHARITABLE ACTIVITIES Unreslricted Total 2021 Total 2020 General Restricled Note io Grdnt fundingT ot dLlivities AIILKdtvd supwrt Losts. GOVernle Losts 21.100 18.?56 6.187 113.695 ?55 134.795 18.511 6,187 293.(H3 16.282 6.020 45.3 113.9S) 159.493 315.345 Page 20

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 8 OTHER EXPENDITLtRE Unrestricled Total 2021 Total 2020 General Stsff Losls Wagies dnd 1leS 'ial %eLuritJ' Peiisioii Lusts tkpreLi<itiiTrn, dJiK)lllti0ll other sinlildf Los1s Other resources exn(d 70J15 6.726 3.312 70.315 6.7?6 3.312 62.477 5.687 2.839 83 io io 80J63 80.363 71.146 No perM)n received elilUnli(S ot I1re Ihai £(rf).IKK) during Ihe yedr. The staff are etnployed by West BuLk-land SLhool. The Chariti, does not have employees. The Losts shown are Ihe value ot. Ihe services donaied by the school. 9 ANAL YSIS OF GOI'ERNANCE cosrs (J (n GOVERNANCE COSTS Unre5trieled funds General Total 2021 Total 2020 I11dndent eIller tees Ekniiiiiution of the t-llncIal st4ilvments 6.187 6,187 6.020 6.187 6.187 6.0?0 Page 21

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 10 GRANT-MAKING Anall'sis of grants Grants to institutions 2021 20?0 Grants to indiiiduals 2021 2020 Bursdries tor individuals Additiuiul fundingi tur butS3ry Tecipients Bursaries tor individuals JdvdllLed Additioiul funding tur bur%dry TeLipivnts 8.437 9.196 13.066 89.182 5.359 154.325 5.836 Equip1]nt fur Wesi BuLkldnd SL'IKN)I West BuLkldnd SL'h(M)l eli]ergeY tut¥J ii.ioo 87.1(A) 4.531 39.(A6 98.?(A) 44.177 36.535 ?48.866 To help the Sc'hool during the CoN'id-19 pandemiL. sLhool tees for the Foundaiion's bursary studenis were paid in adi'ance, hence the lower hgure in Granis 10 indii'iduals 2021. 11 NET INCOMINGIOUTGOING RE50LTiCES Net inLI)nung/li)utgT()ingi resources tor the Ye iDLlude: 2021 2020 tkpreLiiitii)n of fLxvd sets. 83 Page 22

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 12 T AXATION Tlie LhdTiiy is a TegisteTed clJaTiI)' dnd is therefore exenwt fronit&xation on its charitable dLtivities. 13 FIXED A&SET INVESThIENTS Listed ini'estments Total lark'et ialue Ai l Augiusi 2020 ReN"dludtion IiiLoiit diid [rSterS in Mdlld¥eiiieiir Lhdr¥e% transters out 2.0?0.492 2.090.492 245.4(11 ?45.4fll 159.328 159.328 135.1761 135.1701 At 31 July 2021 Net book I'alue 2.3.104 2.3.1( At 31 July 2021 LU o) J At 31 July 2020 O <( < Funher details ot. each invesiment are disclosed in note 21. with ihe restricted tund totalling £2,257.145 and the endowment tund ioralling £132.9i9 ThhiLh in total is the above figure ot £2,3,104. 2.31X).104 2.31x1,104 2.0?0.492 2.020.492 14 DEBTORS 2021 2020 Trdth dvbiors PrepdyII*I)I 3.938 11.213 5,838 13,159 15 CREDITORS: ANIOLNTS FALLING DUE II'ITHIN ONE YEAR 2021 2020 Trdth Lreditors ALLruals 669 6.141 873 6.255 6,810 7,128 Page 23

141 111_ 1. 41

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 16 FUNDS (CONTINLTED) The permaneni end0,ment 1st Michael's and .41an Ca) Fund) is inNested on a total return basis, as Tequired bs, The donor. The donor qUired that the tunds should be n]anaged so that the Lapital is preserved in relation to intlaiion. The Trusrtts. took advice trom Iheir invesirnent adi'isors, Srnilh & Williamson, and the reiail priLe index has been used to calculaie ihe inflation measure. The dale ot Ihe iniiial i'alue ot the Irust tor ini'esimeni and ihe establishrneni date ot the initial value ot Ihe unapplied ioial return was I l (kiober ?014. In ihe s'ear ended 31 July 2021 an additional £3,162 has been added to the original gift Lon]ponenT to saiisfy ihis requiremeni. The inTr'estment fulld alld application of total return to rnent endoiiment fun(is: Endoiiment Unapplied total return Total ningy vdlue of endoW]ent Giti c()nux)nent LFf perinaneiit endo1 plus inflaliun as at l Augu%t ?019 c( z UlpplIed tuldl Telurn Total:

Zu Moveinent in unapplied total Teiurn and end0,]]1]t in the ye4. (J (n Ini-.esiiIil1 return.. dividends inlervit Ini'eslIinr return.. Teci)gnid 82J44 82,344 27.183 27.183 27.183 82J44 109.527 2,?48 2.248 21.823 21.823 InveslIint liill)dgYel]llf Losts. Total: 16391 23,432 1639) 23,432 Uiupplied tuldl Teiurn allted to incon Uii<ipplied toLIl rerurn JlliKated to gift Liiiiw()neiit tor infldliun Net moTrement in the TetM)rting period Cli)sing vdlue of rnnt Gift c()nuMTrnent LFf perinanent endo1 Ldrried forward 3.162 13.1621 3.162 13.1621 85J)6 85,506 Uiupplied Tuldl Telurn Total 47.453 47.453 47.453 85.506 132.959 Page 26

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 17 ANAL YSIS OF NET ASSETS BETM"EEN FLTNDS Total Endoiiinent funds at funds 31 Juli Pernllent 2021 Unrestricled funds General Restricled funds Fixed asset investtnents Curreiit dssels Current lbilitIeS 2.257.145 7?.454 1301 132.959 2.3.104 161.110 16.8101 88.656 16.7801 Toial ner asseis 81.876 2J?9569 132.959 2.544.404 Total Endoiiinent funds at rui)ds 31 Juli Pernlallelll 2020 Unrestricled fuDIts General Reslricled fullds Fixed asset investtnents Current assets Current lbilitIeS 1.910.965 64.427 109.527 2.0?0.492 157.728 17.1?8 93.301 17.1?8}

z u Toldl net assels 86.173 1.975.392 109.527 2,171,IW2 18 ANALYSIS OF NETFL5 At l Augu51 2020 At 31 Julv 2021 Clsh flom" Casli at bank ]d in ILllld 143549 143549 10.703 154.252 154.?52 Net funds 10.703 At 1 .4ugu51 2019 At .11 Jul), 2020 C&sh flom Ch at bank in hdnd ?38J55 195.(M)61 I43.9 Net funds ?38.555 195,(K161 143,549 19 TRuEEs RENILTNEIL4TION AND EXPENSES No tru%tev%, nor [s{)IL$ Lollllecied wilh theiii. have received any reii]uiieralloii troiii tlie LIvdTi(y duriiigT tlie J'edr. No tfUStees hdve received any Tell]thrsed froni the LluTity during ihe Ye¢. Page 27

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021 20 RELATED PARTY TRANSACTIONS DuringT ihe Je<ir Ihe Lhdrity i]ude Ihe li)IliTrwing related pary trdnsaLtiot]s: Il'est BucldaDd School Iiiiiiiigible itiLoiiiiiig resources ot £79.272 12020 - £69.5(Hi repre%enLS Ihe Losts. Ot Ilie services doiiated by Wesr BuLkI)d k111 aiid tor ii'liicb iio relliiburseilIK is rvquired. Ali additiOiLqI £30.tKK) is pr()vidvd by the k'hwl to the Fuunddlion ds d Lontribution toWd5' adiiiiiiislration LOStS. The Founddliun Lotmilltted during the Ye to nEike granLS of £l?0.050 12020 - £287,684) to ibe SL'huol. At the baldnLe sheet ddte the anwunt due to West BuLkIdJ SLh(K)I was £8112020- Nil). Page 28

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