Charlty Reglstratlon No. 1103346
Company Registration No. 05084301 (England and Wales)
KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT
and
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Illlllllllllll
'AD2EFXYP'
0410S12024
COMPANIES HCXJSE

KING'S SCHOOLS TAUNTON LIMITED
CONTENTS
Page
Cofflpany Information
Directors, Report (incorporating the Strategic Retx)rt)
Diredors, Responsibiltties Statement
21
Independent Auditorfs Report
Consolidated Statement of Financial Activities
26
Charity Siatement of Financial Activbties
27
Consolidated and Charity Balance Sheet
28
Consolidated Cash Flow Ststement
29
Notes to the Financial Statements
31

KING'S SCHOOLS TAUNTON LIMITED
COMPANY INFORMATION
YEAR ENDED 31 AUGUST2023
Directors
L M Nash BEd FIOD ISM (Chair and Cuslosl
C H Hirst MA (W￿&custO$)
C A Cavaghan-Paek BEd JP
D Featherstone MA PGCE
M A Gunn MA {Edl
J E R Houghton MA
J E Knill
R M U Lambert MA
W J Morrison 8Sc MRICS
Bishop W N Stock 8A. Dip Thec4.
R Wells-cole BA (Hons)
Commodore J R A WcK#Jard &4SC {Honsl. Msc, PG Cert
Company Secretary
S C Worthy BA MBA
Charity Numbef
1103346
Company Number
05084301
Registered Offlce
20 HoNvay Avenue
Taunton
TA1 3AR
Prln¢lpal Addresses
King's College Taunton
SoLrth Ro&J
Taunton
Somersel
TA1 3LA
King's College Prep (￿EF 01AW2023- previously King's Hall
Schooli
Kingston Road
Taunton
Somersel
TA2 8A4
Key Management Petsonnel
Heads
P Sloan, BA (King's College Taunton) Appointèd 0110912022
J T S Chippendafe, Bsc (King's College P￿P)
Director of Finance and
Operations
S C 14Vorthy BA MBA

KING'S SCHOOLS TAUNTON LIMITED
COMPANY INFORMATION
YEAR ENDED 31 AUGUST 2023
Auditoi
RSM UKAudrt LLP
Portland
25 High Street
Crawley
West Sussex
RH10 18G
Tax advisers
RSM UK Tax and Aeeounlirnj Limited
10" fkvr
103 ColmcKe Rty¥
Bimiingham
Wesl MidlarKI$
B3 IAG
Bankers
National Westminster Bank pk
49 North Sireel
Taunton
TA1 1NB
Solicitors
DAS Law Limited
North Quay
Temple Back
Bristol
BS16FL
Porter D(hJson
The Quad
BLgckbrc4Jk Park Avenue
Taunton
TA12PX
Veak Wasbrough Vizards
Narrow Quay House
NarrN Quay
Bristol
BS14QA
Insurance Brokers
Marsh Insurance 8rokers L￿nIted
1 Tower PLace Wesl
Tower Place
London
EC3R 5BU

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST2023
The Directors present their repL¥l and ffinwKial statwnents for the year ended 31 August 2023 and
confirm they cornp￿ with the requ1￿mentS of the Ch¥itss Act 2011, including the Directors, ar
Slralegie Reports, under the Companies Act 21x6.
REFERENCE AND ADMINISTRATIVE INFORMATION
The Company was incorporated on 25 March 2004 and commeneed operations on 1 September 2004
when the business. assets and liabilities relating to King's College Prep and Kirg's College Taunton
were transferred fr¢yn Woodard Schools Iwestem DNisionl Limrted. On 15 Juty 2012 the Company
changed rts name from WC￿ard Schwb Taunton Limited to King's Schods Taunton Limited. The
Company is a limited liabi14ty company I￿Orporated in the United Kingdom and a wholly owned
subsidiary of The Wocdard Corporation. which is also a ￿1stered charty (number 10962701 The
Direetofs of the Company are aL80 Fellows {membersl of the WrJySard Corporation and participate in
the eleetKJn of rts b)8rd of management and are eommrtted to its charItab￿ obj'ects.
As Wwdard sch¢)015, King s College Prep (chang￿ from 'King's Hall Schwl, with effect from 1
September 2023} and King's College Taunton (the Sehts)Isl share an educational vision which
ernpowers and adds value lo a chikl's development, wlhin an actNely Christian environment. King's
College Prep is an independent cooducational preparatory school for day and boarding pupi15 aged 2
to 13 and incorporates pre-preparalory and nursery departments. King's College Taunton is an
independent co*ducatKJnal senkjr school for boarding and day pupi15 aged 13 10 19. The Sehth)Is are
forward-thinking and dynamic places of tearning with ded￿ed staff. excellent farylities and a warm and
open culture.
Note 30 on page 47 provths delails of a conned8d ¢hanty. namety the parent charity, the Wwdard
Corporation.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Goveming Document
The Company is g¢)vemed by Articles of A$S￿lat￿)n as adopted by Speckql Resolution dated 20 March
2013, replacing those dated 18 March 2004 amended by Special Re501ulionls) dated 25 January 20CE,
28 April 2009 and 23 June 2009. They permit fund5 to be Managed iri such a manner a5 the D1￿clOr$
see fit. provided Ihal such powers are only exercised for the purpose5 of attaining the objects. and in a
manner whrh is legalty charitable. The Articles of Asscciation forbid the distribution of any property or
funtjs. which are to be applEd towards the promotion of the objects of the Cornpany.
School Couneil (Governing Body
The Council Members are the Directors and charitable trustees of the Company and comprise the
Council ol King's Col*e Prep and King s College Taunton. The Direclofs are also Govemois for the
purpose of Charty law. They are elected to hokl office for five years. Any retiring Director may be re-
appointed. The Directors determine the policy and strategy ol the Company. It is the collective
responsibility of the School Council to ensure that the Schcols are fit for purpose and to delerniine and
support ils strategic direction in order lo enable rt to attain their stated obje¢ttves. The day-104lay
management of the Schools is delegated to the Headmasters and Oireclor of Finance and Operations
(who operate5 across both s¢hoolsl, supported by the Senior Management Teams in each School. The
chair of the Counal is krhown as the Cuslos.
Recruitment and Tfaining of Council Membe
All Council Members are Corporate Felhjws of the W¢x*a8rd Corporati¢)n. Corporate Felk)ws a
responsible for electing the Woodard CorporalKJn Board. Covneil Members are recruited on the basis
of norninalions from s¢h¢xJl contacts and from an exiernal recruitment company and from seleclhjn when
a posl be￿rneS available.
The Council knoks lo ensure a mix of skills and selects new Council Members on the basis of
background, competence, specialist skills and commrtment lo supporting the Christian ethoslpractice$
of the Schools. Speerfic attenlKJn is paid to the sUccess￿)n planning of Council Members, both with a
view lo their skill sets aThJ in relalion to the chainnanship of the Couneil and rts sub4ommittees.

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT {incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST 2023
Council Membets are prowded with iTrJuction training by the Headmasters, Diredor of Èinance and
Operations and their staff and a wider prcgrarn￿￿ of training events is organised by the Woodard
Corporation and other organisations. Council Members are also encouraged lo attend events run by
the Association of Goveming Bodies of Independent Schc4Jls {AGBISI and other relevant organisations.
Organlsatlonal Managemenl
The Schools are govemed by the cour￿11 which delegates work to a number of committees.
Membership of each committee is outlined on page 20. The Directors determine the general policy of
the Company. The day-l04ay management ofthe Ccrfnpany rs delegated lo the Headmasters and the
Director of Finance and OperalTron5, overseeing eduCats￿al, pastoral and administrabve functions in
consultation with the sen￿[ staff. The day404ay administralion is undertaken wrthin the poI￿leS and
procedures approved by Council whth provide for only S￿nthcant expendrture de¢i$ions and major
apital projects to be referred to c(￿ne11 for prior approval.
The Headrnaslers oversee the recruitsnent of all educational staff. whilst Ihe Dir￿lOr of Finance and
Operations oversees the recruitrnent of operational staff. The Headmasters and Director of Finance
and operat￿nS are invited lo atterKI Courtil meetings.
The full Council met for a full meeting three limes durir*J Ihe year. Tlw attended one Education Oay
al King's College and one Education Day al King's College Pcep.
Education and Pastoral Committee- the Educalton and Pastoral Committee is responsible for ovefsighl
of the aeademie perfomance of the Schwls and eduCat￿nal and pastoral poI￿y. making
recofnmendaI￿ns lo Council for approval. The Education and Pasloral Cornmittee met three tirne5
during the year.
Finance and Estates Committee- the Finance and Estates Commrttee ha5 a remrt lo consider budgets,
both revenue and capstal, cash flow infomalion. financKal reports. including Ihe financial ststemenls,
financial policies arid relevant financial reguLAb'ons. It does this through consideralKJn of audit
management lellers and olhef reports relating lo go¥eman¢e and Control of the Schools. 11 also
oversees the Schools. estate5 51rategie5, including capital developffenls and maintenance of the
buildings. It makes Tecommendations to Council for approval. The Finance and EsL*es cc￿mittee
met three limes during the year.
RemuneratK)n Committè&- the RemuneratK)n Ccmnmiliee reWe￿ the performance and remuneration
ol the Execuiive. It makes recommerKlations to Council for approval. The RemuneTalion Committee
met once during the year.
Appoinllnents Comnrittee- the Appointrents Ccthmittee is responsible for managing the reeruilment
of new Council Members to Couneil. It ensures an orderty succession pcAicy is in place and that the
Council has an appropriate mix of skills and experience. It makes ￿e¢%￿mendatIOnS to Council for
approval. The Appointments Committee mel ￿lce during the yeaf.
Complia￿e Group- the Compliance Group is charged with overseeing the compliance of both Kirtg's
College and King's College Prep with all relevant legislat￿ft and wulalory requirements. It makes
recommendations to Council for approval. The COmpl￿nts Gr￿p met or￿e during the year.
Group Structure and Relationships
The Company has two wholty ¢)wned non<hanlable subsidiaries. WST Enterprises Limited and King's
College Schcols Intemational Limrted.
The SchcKJls have developed links with a variety of organisalions by ffeans of whKh they enjoy access
to infomalion on best Practi￿ which enables them lo offer the widest possible a￿e$S lo the facilities
and educational ¢¥)portunilies which they promde. Council Members and stsff ensure that they are able
to attain the highest standards of quality and performance through membership of professional
associations including the Independent Schools Council, the Headmasters, and Headmistresses,
Conference, the Independent AssccLation of Preparatory Sthts)Is, the Independent Schwls, Bursars
AsscKialion, the Assfxkglion of Goveming Bc#Jies of Independent Schools. the Boarding Schools,

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS. REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST 2023
Association, and the Somerset Chan*er of C￿nme[ce, as well as through invofvement in the wort of
the Independent Schools. Inspectorate, various examining 1K￿les. through nehworking with peer groups
and by many other means.
All the pupils in the tsvo schoo￿ are encouraged lo develop an *vareness of the social context of the
all-round edLKalion they receive at the Scho)Is and they are engaged in a number of activities to
enhance their understanding and to enrich their eyrien¢e_ There is a thriving a$s¢xial￿n of former
pupils of King's College, the Okl Aluredran Club. which supports the work of that School. Beyond King's
was introduced in 2019., this is an online iniliatNe. which combines a directory of alumni. pupils, parents
and Friends of Kir4J'$, who are able to connect, support and mentor each other, whilst at school and
beyond. Two fvrther organisations, The Fnends of King's College and The Pelicans (Frends ol King's
College Prep), membership of which ￿ open to past and present parents of pupils al the Schools,
neighboufs and others. also sup￿$ the work of the Schools. King's Schools Taunton Limrted is a
subslanlial employer in the Taunton a￿a and has responsibilty forthe care and upkeep of several listed
properties and Fmportant parts of the bxal environment.
King's Schools Taunton Limrted also cooperates wth many Iccal 5chooLs and charities in its on-going
endeavours lo widen Publ￿ a￿e$S to the schooling il provides. to oplimise the educational use of rts
ullural and wirting facilrtEs and to awaken in rts pupils. in the public interest, an awareness of the
sc<ial Contexi of the all-round educab.on they receive.
How the Board Complies with Its Section 172 Duty
Section 172 {1) of the Cornpan*s Aet 2006 (Statement of Dwectorfs Dubes to Stakeholders) requires
directors to act in good faith to promote the success of the charty for the benefft of ils members. and in
d￿n9 so have regard (amongst other matters} to..
the likely cc￿seqUenceS of any decision in the long tern:
the inlere$ts ol the charitable cc*npany's employees:
the need to foster the tharilabk c(ympany's business relationships Y￿h suppliers, customers
and olhefs".
the impact of the charitable company's operatTrons on the communty and the environment,.
the desirabilty of the Charitab￿ comparty main￿￿1r￿d a reputation for hyh standards of
business conduct, arKI
the need to xt fairty as be￿een members of the charitsb￿ company.
The Directors welcome the new repovting requirement as an ￿p)rtunity lo explain how diabgue with
stakeholders has infofmed and helped lo shape deci5iolls in prorr￿tIng the success of the Schools to
achieve their charitable purposes.
As set out on pages 4 and 5 wrthin "Group Slru¢ture and Relath)nships" the Schools have devebped
links with a wide range of organisab'ons to ensure the widesl possible a¢￿S to our facilities and
education. Through membership of HMC, IAPS. AGBIS. BSA. and ISBA and Ihrough nehvorking with
peer groups we ensure that we ale ab￿ lo attain the hwJhest standaids of quality and performance.
Details of how the Schools have engaged wilh employees and had regard lo employee interesls can be
found within the Employment Policy and Employee Involvement section5 on page 8. Details of volunteer
engagement can also be found on page 9.
The Directors can demonstrate the promotion and success of the charty for Ihe benefit of the
slakeholdets thrcyjgh the rev￿ of achievements and perfom)8nce fof the year. included within this
Strategic Report. The Schools have continued to benefit from access lo high qualTty a¢ademic education
as well as pastoral and S￿la1 support. The Schcols also play an important role in providing aclTWt￿s
for local communty groups and access lo their facilit￿5.
The Trustees are responsible for strategic planning and policy-making forthe Schools antl, accordingly,
all key decisions, the current perf0m￿nCe and future longer-temi plans of the charity and stakeholders
are referned to and taken by the Board. The Schools are govemed by Ihe goveming body (Council)

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST 2023
which de￿gateS to a number of c(ynmittees. Membership of eaeh commrttee is oudined on p8ge
20. The Govemors. who a￿ also the directors. detemiine ¢he general policy of the corrwny.
As set out in the strateg￿ report, our eumure, staff. volunteer and pupil weware and wellbeing, has been
fundamental to continued success. Further Inforrnat￿n on King's conlinue¢J success can be found in
our Strategic Rerx)rt and the detailed rewew of aCh￿VeMentS and perfomance for the year.
CHARITA8LE OBJECTS. AIMS. OBJECTIVES AND ACTIVITIES
Charitsble Objects
The Company's objecls, as Set out in the Artides ofAsK0at￿n, are to prontr)te and extend education
in accordance with the doctn'nes and princip￿$ ofthe Church of England, through rt5 tsvo sche¢)Is. King's
College Prep and King's College Taunton. The Council has a wrrtien statement of f(s own Aims, Vision
and Values last updated in Juty 2022. wh￿h enshrines the Company's objectives in rts own context.
Fr¢)m this document li0￿ the Coffyany's strategK plan againsl which Ihe principal actiw.ties are
monrtored regularly.
In selling the obJ'ectr¥es and planning the xtivrt" ies of the sch￿￿, the Couneil gNes Ca￿lu1
consideration to the Charity C¢)mmission's general guidance on publ￿ benefit and in particular lo rts
supplementary public benefrt guidance on advancing education and on fe&tharging. King's Schools
Taunton Limited is 8 Charitab￿ trust wh*h seeks to benefft the public through the pursuit of its slated
aims. The fees are set al a level lo ensure the financial viabilty of the Schools and at a level that is
consistent with the airn of provNling a fitst cL8ss educalton lo all pupils.
The Schods. charitable objectrves are lo promote and extend education,, and these thiectives a
cognised as benefiting the public when pursued In the context of formal edu&*ion in a body where all
surplus funds are ￿-InVested. The Woodard Corporation and all of the schools it owns are charitable
bodies. with no external sharehoklers and no possibilty of making distributKJns, including in the fom of
dividends. All surpluses a￿ ￿-InVeSted in education.
Intended impact
Woodard schools Strive for the best all round educatjon of every aspect of each Individual", they ensure
high standards of religious educabon and they see themselves as communities working together for the
benefrt of all concemed, and of the Church and Ihe nation. They are strong Chrsstian foundations which
adhere lo Calholie belief as found in the chU￿h of England. to Christian worship focused in the
Euchanst, and lo the care of each indNidual and the whok school communty particularised in the
ministry oflhe Chaplain. A Woodard education values tM)Ih the spirrtual and moral devek)pment of each
person within the school communty giving slreryth. confidence and respect for otheis.
Objectives of and Principal Activities for the Year
The principal objectwe and actwity of the Schools is the delivery of educalir)n lo pupils ranging from 2
to 19 years of age. The Sehctlls aim lo support children in reaching their potential in all areas of their
activty at the Schools, and in the wider cornmunty. This may be in ac8demt subjects bul could just as
easily be reflected in success in art. drama. sport, music or dance. We produce 'well rounded,
individuals who are able to make a posrtive conlributson lo scciety. All Wcodard sthools aim to provide
a rounded education lo help the pupils to make their way in adutt lrfe. King's Schools Taunlon also aims
lo further extend access lo the schools. tscilrt￿s lo the local communty.
Public Benefit
Within the objects, the Schools aim to create an enwronmenl lo nurture chikI￿n. to get the best from
them and lo albw Iheffl lo develop and fuffil their potential. They provKle them with a first Class
independent educalK•n arKI a wide range of sporting and cuKural opportunrt*s. The Schools, public
benefrt aim is that all pupils will be self-conhjenl and instilled with a desire to eontribule to the wider
community.
In the furtherar￿e of these aims the DiiectrKs of King's Schoo15 Taunton knmited as the Company's

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS. REPORT lincorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST 2023
twslees, have compl*d with the duty in s.17 ofthe Chari￿$ Act 2011 to have regard to the Charty
Commission's published general and rethnt $th-sector gu￿anCe conceming the operation of the
Public Benefit reqUI￿rneAt under that Acl.
The SCho￿s welcome pupils from all backgrcyjnds. To •JmTt a prospeth.ve pupil, the Schools need to
be satisfied that they will be ab￿ lo educate and devekjp a prospective pupil to the best of their wjlenlial
and in line wrth the general stsndards achieved by Iheir peets. Entrance interviews and assessments
are undertaken to satisfy the Schools and parents that potential pupils can cope with the pace of leaming
and benefrt from the education they provrde. An individual's gender, eth￿￿1ty. race. religion or dtsabilrty
do not form part of the assessmenl pr￿sses.
The Schools are a part of a W￿er communrty and are keen that their staff and pupils participate. The
Schools also offer a resource to support a range of educational activrties for the benefit of local children
attending stale ghools and their leaehers. The Couneil is committed lo developing the programme of
ooperalion and joint working wrth Ictal maintained sector junTh and secondary schools. The activities
undertaken and the success of the sChc￿lS are explained in the 'Revithv of AChiev￿ntS and
Pertormance for the Year, seLiion of this reporL
Woodard and ils schools provide a signrficanl benefit to the public. The schools strive to ensure that
measures of public benefrt are appropri*e. and that significant sections of the public are not excluded
from the opportunity to benefit from the edU￿tIOn and faalrties offered due lo the need lo pay fees. In
addition to significant promsion of bursaries and other fom)s of financial support. the school provides
wide range of opportunrties forc¢ynmunity benefrt and facilil*s and events are often open to all. Further
detail of the publtc benefr¢ offered is i￿l￿ded in the SeCt￿n entrtknj 'Review of Achievements and
Performance for the Yearf behTh.
11 is a key requirement of ewdeneing pubtic benefit that any private benefft to individuals or elemenls of
the charty will be incKlental lo the charrt￿S objectNes. An example of private benefit may be the
reimbursement of travelling expenses for Iruslees attending training courses.. any pnvale benefit to
ir￿1VIdual5 Of elernenls of Woodard are incidental to the delivery of the chantable objectives.
ACCESS POLICY
11 is important to the Schcols that aceess to the educath)n offered is not reslitted lo those who can
afford the fees. The Scho)I Counal believes that pupils benefrt from learnlng within a dNefse
communty. A 9￿al deal of learning 0¢￿rS thmugh soc￿1 Interact￿￿, conver5atJon and Shared
eXperIen￿S which helps pupils develop an understanding of the perspectNes of other people that will
e vrtal in their adutt lives.
The Schools, Awards polic￿5, induding for bur5arie5. contributeto a wNJening ol acces5 to the e(1uc*ion
they offer and the facl1rt￿S its pupils enjoy.
Bursary Policy
The Schools Council vie%ws bursary wards as ijrwrtant in he*ing to ensure children from tsmilies who
would othe￿ise not be able lo afford the fees can ￿s$ the education offered by the Schools.
Assistance wrth fees, or"bursaries' is designed lo help those In financial need lo affofd the schwl fees
al King's. Since demand for fee assistance always great￿ exceeds supply, pupils musl be registe￿￿
candidates and 'qualify' lo be considered for fee assistanee on the basis of achieving h￿h scores in the
entrance assessments. by Mnning a scholarship or exhibrtion award, or. lor current pupils, to relieve
hardship Whe￿ a pupil'5 edLKalion and future prOS￿t$ would otherwise be at risk, for example in the
case of redundancy.
In assessing means the melhodokrfJy promulgated by the Independent Schools, Bursars Association is
used. which takes a number of factors into conshderats.on including farnity income, investments and
savings and family circumstances for example dependant relatives and the number of siblirrfJs. The
funds available for bursaries are limrted_ When considering awards, the Schools have to be mindful that
they musl ensure a balance between those pa￿nIS paying fvll fees, many of w1￿M make considerable
personal sacrifKes to fund their ehild's edu&11￿n, and those benefitsng from the awards.

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS. REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGusf2023
In January 2015 the School Council alkKated £1 millK)n ol unrestrict&l funds to a designated Bursary
Fund. These fund5 are invested and the objectNe is to build this fund signrfunlly through fund raising
and accumulatiThJ investment income and eaprtal grobth. A percentage ofthe capital sum is conth'buted
to the Schwls, bursary prcgramme annualty.
The bursary awards range up lo 50% remIss￿n of fees. Inf￿tIon about fee assistance through
bursaries 1$ provKled to all ap￿YIng to the sthools. Further details of the current butsary policy and how
to apply are available from the Finance or Admissions offices.
Other Policies on Assistanc•:
Famity discounts policy
To underline the value placed on continuity for familÈs, discounts a￿ offered where parents have more
than one Child al Ihe Schools.
Promoting high academic starnJlants- scholatshlp policy
The purpose of scholarship awards is lo recr>Jnise h￿h academK potents.al or the ability to excel in co-
curricular activities. Scholarships ale awaft1ed on the basis of the individual's academie potential or
eviden￿ of eX￿pIlOnal abilibes which will eontn'bule lo co<urri¢ular activiti.es. Scholarships are
awarded with a fixed remission of fees of btheen 1 Ook and SOQh. Where further assistance is required,
scholarship awards may be supplemenled by a mearts-lesled bursary up to a tolal remission of
S￿. The Schools include detsils of the various awards avaikble in their Pfospectuses and on their
websites.
Assistance for teaching staff
As part of its emphasi$ on attra¢ts"ng and retaining huh calibre staff. the Schwls offer a discount seheme
for those staff members who choose lo educate their chikdon al the Schoob.
Further assistance
Support is also available to ehildren of MOD employees and the Clergy.
Grant Making Policy
The Schcols provided ￿holarshIps. grants, prize5 arHI other ￿3rd$ lotalling £599,458 from unrestricted
funds In common with other independent scho)Is. King's College Taunton arKI King s College Prep
make these awards based on the edU￿tiOnal potential of the pupil Isubjecl to the particular conditions
imposed by the original donor where the award is OLrt of restrrted funds). The Schools also provided
means tested bursaries lotslling £1.344,181 18.6% of gross feesl to families would not otherwise
be able lo afford the fees or where the pupil's educatM?n and futu￿ prospects would otherwise be al
risk. They provided 8SSiStance lo 11 S pupils. In support of refugees and in partnefship with Royal
SpringBoard. seven of these recewed over 100% remiss￿)n of fees. The availability of all such awards
for fee-asslslance. together wrth the temis and cond1ti￿5 for each kiThJ of award, i8 advert￿ed on the
Schools. websites.
Employment Policy
King's Schools Taunton Linmted ts an equal opportunty organisat￿l and is eommitted to a working
environment that is free from any fom of diseriminati¢)n on the grounds of colour. race. ethnicity. reli9ion.
gender, sexual orientation or disability The SchwL8 will make reasonable adiustmenls to meet the
needs of staff or pupils who are or bec(Th disabled.
Employee Involvement
The S¢hools encournge the involvement of ils employees in its management through regular meetings
of the staff with management and Governors lin particular with the Govemor responsible for staff
welfare). Managemenl at all levels have responsibilty for the dissemination ￿ information of particular
concem lo employees and recemng their views on important matters of w71￿y. Empbjyees are
required lo play an active part in appraisal of their perfornance and are also requested lo commenl on
what the Schwls do well and what could be improved.

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT (incorporating the STRATEGIC REPORn
YEAR ENDED 31 AUGUST 2023
Disabled Persons
The Schools wll empby dISab￿d persons when they appear lo be stsrtab￿ for a particular vacancy and
every efftirt is made to ensure they are gwen full and fair ConS￿er￿￿)n when such vacancies arise.
There will be a training scheme made avaiLable for any employees who become injured or disabled
during the course of their ern￿oYment so they can, where possib￿. continue in empwmenl with the
Schools.
Voluntee
The Scho￿$ enjoy the support of a large numter of ￿lunteer groups and indiwduals itluding, in
particular. parents, who help the Schtr)Is lo raise funds and assist with Specif￿ aclivrties and school
events. The Council records ils deep appreCIat￿n for the work of these ¥olunleers,' the assislanee given
would extend to several hundred hour5 of voluntsry seNice.
Inveslment Poliw and Objectives
The Company's art￿leS of assocL41ion pemrt funds to be invested in suth manner as the Directors see
rit, providing that such powers ol investrnent are onty exercised for the purpose of attaining the objects
and in a manner that is legalty charrtable. The Counal's policy is to preseThe and enhance the capital
value of investrnents and maximise income consistent with maintaining a balanced investment return
from income and capital. with moderate risk.
STRATEGIC REPORT
REVIEW OF ACHIEVEMENTS ANO PERFORMANCE FOR THE YEAR
King's College
The School's high educational stsndards are validaled through strong public examination resutts, our
measure of value added and Ihrou9h extemal inspection. The School offers a broad range of
subjects, though the emphasis is on Iradrtional, a¢ademtally rigorous disciplines. We have particular
strength in art, history. geography, mathematics, the suences. languages and deswjn technology. The
S¢h¢)ol underwent a scheduled complonce inspection by the Independent School's Inspectorate IISII
in Oct¢)ber 2022 and in a gl￿wIng report was found to be lully compliant in all areas.
AcademK Results
Al both GCSE and A ￿Ve1 the &ademic results for the %hool were strong thi5 year. For the first lime
in three year5 carKlidales sat fomial public examinatsons_ We are confthnt that the grades are a fair
refieclion of the ability and hard work of the cohorts.
Al A level and BTEC, the ovetall A. to B rate was 73%. In all, 32 PUFXIS gained three or more A or A"s.
The great majority of pupils who had offers from universilies have been ac¢£pled onlo their first or
second choice courses. King's leavers have started courses at universitie5 including Oxford, Imperial
College, UCL, KCL, Durham, Notbngham. Manchester and Exeter.
Departments performing particuLady well this year, based C￿ their A" lo B rate5, include art {800hl.
BTEC Sport1100°Al. Chinese1100%}. drama {100%). design t￿hn0k)gY I88%}, economi¢s195%1,
further maths1100%1. geography183%1. German {1(KJ%l and music11 C(l%l. Over a quarter of Maths
and Further Maths candidates achieved A" grades, and 100% of the students who stud*d the
extended Pfoject qualificalKJn were awarded an A. or A.
These grades mean we are. yel again. the h¢ghest perfryming ac&JeM￿ school in Somerset.
King's year 11 pupils wefe entered for a mixture of GCSE and IGCSE eourses. so grades are
mixture of numtefs {9 to 11 arKI lettefs IA. to El. Grades 9. 8 and 7 at GCSE equate to A. and A
grades.
Three pupils achieved an extraordinary nine crf more grades of A., 9$.. A further len pupiL% achieved
nine or more grades al A". A, 9, 8 or 7.

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST 2023
A L6ih pu￿1 was commended (lop eight) in the Cambridge Universty Kefvin Science Prize. Another
L6th pupil was awarded second prize in the Centre for Arrny Leadetship essay prize.
Improving Facilities
In February 2023 we were p￿aSed lo open our Sixlh Fomi Cenlre. This stale-of-the art facilty
supports a universty-style approach to Sixth Fomi life and provides opportunrties for collaborative
wortKing and private study. aking with a vibrant social scene - all good preparation for life and study
beyond school. The official opening tts)k place in September 2023. with the Vice Chancellor of the
Universty of Exeter. Sir m￿hael 8art)er, opening the buikjing.
Arts, MUS￿ and Drama
Dramatic productions during the year included the musul. The Wedding Singer. the junK)r play was a
production of 'Hansel and Gretel. performed Outd￿r5 in the amphilhealre. All drama scholars were
involved In a cjassic'who dunniy pL8y and interactive supper.
King's pupifs achieve(l oulstsnding ￿$￿tt$ in LAMOA examinations. in¢￿dIng one Dlstinctk￿ al Gold
Medal, six Grade 7 silver medals aThJ four Grade 6 bronze medals.
The number and range of musical events loc* place ¢)ver the course of the year, including 22
oncerts. 31 sung Eucharists and over 4000 instrumenlal lessons. Parts"cular hi9hlKJhls of the year
were the Chapel Choir's conquering of Faure's Requiem. the symphony orchestra's joyous Cuban
rhyihms and the resplendent gurtar her0￿ of many at Fox Rocks.
Sport and OutdoorPursuils
Our boys, 1st Xl and U15$ ￿cket teams won their reSp￿t￿e national T20 Cups. cr￿￿nIng them
champions of England- a superb achwemenl.
A number of boy5 8rKI gid5 CLNnpeled at an intemalional level in a range of sports. including athletics,
cricket, water polo and badminton.
The golf team won the South West sch￿1$ gow Wue and reached the HMC South West Final.
In swimming. our boys. and girts. teams We￿ second in the annual meade-￿n9 Cup quadrangular
gala.
Riding had a successful year this year. Eight riders Tepresented the school at the National School
Equestrian Association finals at Hid(slead. and our wso team conb.nues to be su￿sSfUl.
CCF
The school's Royal Marines section or￿e again won the prestvjious Sir Steuart Pringle Trophy at
Lympslone, for the eighth lime in ￿1Ve years. This means the school has now won the trophy more
times than any other schcx)l in the country.
One of our U61h pupils was selected as the Lord Lieutenant's C•Jet, playing a key ceremonial role as
one of the King's representatives in the county.
Ten Tors
King's orKe again entered three teams lor the 35, 45 and 55 miles Ten Tors Challenge. successfully
lacking the challenging roLrtes of Dartrrthr. ShO￿n9 exceplicfflal resilience despite the heavy load$
and tough weather.
Partnerships & Communty Engagement
Plans are now well under way for year 5 pupits {64 in totall from Hofy Trinty C of E VA Primary Schcol
to join us at KCT for a programrne of six enrichment sessions in the 2023r24 acadern￿ year. They
report that COVID has had a detrimental impact on levels of aCadern￿ engagement and narrowed the
world views of many of their pupiL8. In addrtion. their resources are more limited than ever before. For
example, they have had to eul in haff the brass instrument lessons they prowde to one of their year
group5. They were delighted by our approach and wll warmly welcome any enrthmenl opportunities
that we can offer. The six se$s￿n$. one per hawtemi. will be divided amngst the following
10

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST 2023
departments lo C￿nplernent Hdy Trini￿s curr￿lUm.. kience {45-minute practical experiments on
carousel basis for each subjed). MFL. Drama. mus￿. CrKket and DT.
Our Director of MUS￿ continues lo develop his excellent woth engaging musickqns from other thal
Schools in his oreheslra and will be invilirYJ local primary schools lo take part in a day's choral
workshop in the Michaelrnas term of 2023. We will also notify Holy Trinty of our concerts that are
open to the public, for them lo encoura9e their budding musih4ns to attend to be see what il's like to
be in an orchestra.
Fundraising for the funded communty swimming lessons is undenway with parents and staff.
Discussions are underway wrth a l¢xal primary Sch￿1. wrth whom we have an existing relationship,
regarding this project. Together we will identfy tsvo thildren who are in receipt of the pupil premium
{and whose paren15 will commrt lo bringing Ihem to lessons). It is expected that the first Iwo funded
places will start at the beginning of the September term wth one bein9 funded from donatic￿S from the
staff team and one being a free pLace offered by King's College.
Facilities made ava￿able fo the publ
Facilities used by 9roups from outside the schwl have inclLKled the Chapel, the swimming pcol.
aying fields, Astroturf prtches. squash wurts. the indcor crK*et facility and the theatre.
King's College Prep
King's College Prep provides a very high standard of e(l(Kation arKI this 15 validated by review of the
academ￿ results and other a¢h￿VementS and through exiernal inspection. The School offer5 a broad
curriculum and educates chihJren wrth a wide range of ability. It has an excepbonal Forest School on
site uiilised by all children wh￿h makes full use of the School's stunning rural p051tKJn and proves very
popular with ¢hildren and siaff alike. 'Woodland Adventures. and a variety of courses are run dunng
the school holidays as part of the wrap-around care provision As well as achieving high academic
attainment the Schwl ss a strong force on the sporting front. especially in rugby. cricket. hockey,
netball, tennis and at￿￿tl¢s. The School has impressive musical perfomiers.. artist5 Wlth great talent..
self-motivated and able designers", its drama and perfomiThJ art$ Pr0gramrr￿ is full, varied and of a
very high stsndard.
The School aims lo support Child￿ft in ￿a¢hIng their potenlK?I rn all areas of their a¢tivty at the
S¢ht)ol This may be in academic subjects but could just as easily be reflected in Suc￿sS in art.
drama, sport. MUS￿ or desKJn technology." Year 8 leavers secured 38 scholarships this year and
around 200 awards lo senK)T seh¢)ols have been gained In these six disciplines over the last six years.
The School produces well-rounded indNKluals who ao ab￿ lo make a posrtNe contribution to society.
An effective democratically elected Pupil Council (¥)erates Suc￿$$fullY from Year 3 upwards with
'Pupil Voice, existing in Pre-Prep. There are constant Chantab￿ events taking place, with a significant
focus this year being towards funds for The Neknn TnJsl, H05pice South Wesl and Open t)oor.
Academ￿ Perfofmance
Year 8 leaver5 gained tsvefve a&￿eM1¢ scholarships to senior Schools. There was a 100% of Year 8
children gained access to their chosen senior Sch￿1. Year 6 children gain￿ three academ
scholarships to continue to King's College after Year 8_
Sport
King's College Prep continues lo compete al a very high ￿ve1, espe¢kally in rugby, hockey. cricket.
athlet￿, tennis, fc*)tball and netball. In s￿rtIng competrtion outside of school. King's Hall children
were successful The boys U13 and U11 rugby teams had very positive seasons. The boys, and girts,
h¢xkey teams won the vast majority of their matches. All children, girts and boys, play ericket al the
sarne lime. The girfs U13 cricket team were County Champions as were the t￿y$ U12 and U11 cricket
teams with the U13 boys being runners up. A gC￿ number of boys and girls were selected to play for
Somersel at their age group.
The tennis teams perforn￿d strongly with Ws and gids in the County squads and one boy is the
County Tennis Champion for his age group. A large number of children competed in the Exmoor
Challenge whilst our riding team won several Shu4V Jumping Classes during the year and also

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST 2023
competed al Hickstead. One boy became U14 County squash ChaMp￿n arKJ. i) conjunction wrth the
College, our Junior squash team are County Champions. Two children eompeted in the National
Alhlelic finals with one gaining a Bronze medal.
Ten chik4ren gained sports scholatships to their senior schools and four won awards in Year 6 10
continue on to King's Colw.
Art, DT. Musi, Dftma and Perfomiing Arts
An impressNe and diverse Art and DT exhibrtion at the end of the year dtsplayed the various creative
talents in the School. The S￿alIst Art group undertts)k a W￿de range of enrichment activities to
extend their knowledge and understanding The rnus￿ department pul on extremety high qualty
concerts. Involvement in festNals and comFetitions such as Taunton MUS￿ Festival was fulsome with
impressive results. All children in Years 2. 3 and 4 have, respectivety. class lessons on the violin,
trumpelltrombone and Junior sax.
Drama productions continued to be plentiful with the Michaelmas Term seeing Year 7 and 8 ereale
terrific pr￿lUction of Moana Jr. An extremety hvJh qualty show wilh sound induding radNJ
microphones, lohling, set and costumes. Decemter saw tr40 excelknl nativity productions from Pre-
Prep. In March Year 6 produced energet￿ and vibrant perfO￿r￿nceS of Charlie and the Chocolate
Factory. Yeaf 4 performed outside in the Summer lo parental audiences. The Speech and Drama
activi(y continues lo thnve with many chikyren taing part inclLNJing the Taunton Drama Fe$tNal and
LAMDA exams- wrth muth success.
The King's Hall Arts Week wekomed an er￿my￿s range of visitors across the ¢urri¢ulum enriching
the expèrience for the children as well as numerous trips and productions taking place. The theme
was 'Magic'. There were workshops, trips, visiting artist5, authors. storytellers and dance as well as
some folkjwing the remarkable puppeteers.
Three mu5K, four art, three DT and five drarr￿Iperforn1ln9 arts scholarships were gained by Year 8
children 10 Senior schools and two music and tsvo perfoming arts Scho￿r$hIPS were gained by
children in Year 6.
SwnrfKanl PfDiects
The major focu5 has been on the roof of the main schcd building, completing Pre-P￿p classroom and
cloakrooms. refreshing the all-wealher pitch surface. ￿furbISh1n9 staff wmmon nom, and boiler
replacements.
International Schools
KST has a subsKliary company to take advantage of the opportunty lo develop s¢h¢)ols internationally,
applying the successful King's College and King's College Prep approach lo education and personal
development. This Company woths wrth selected partnefs who are generalty responsible for the day-to-
day operation of the schools Whi￿ Kin9 s assist with recruiting key personnel. curriculum and policEs.
Once a school is operatsng. personnel from the UK schwLs proV￿e sUPPOrt lo the Ictal management
and undertake reguU4r educational and ￿mpIran￿ audts to ensure that the King'5 formula is being
applied SLbccessfully.
India
After numbers fell during the pandemic, numbefs at the sclKd in India a￿ growng once again. A new
Head took up post last year. Pupils who took Ihetr A levels last year have all moved on lo universibes
or cdleges. induding in the UK.
Qatar
King's College Doha opened on 18 September 2016. It ncw has opened a second. purpose built, stste
of the art campus. In lolal, there are 1015 children up lo Year 12_ There continues to be close dialogue
aNJ support for the schod including the mniioring responsbilth.es conducted through both a formal
inspection as well as regular reports.
King's College Rryadh opened in September 2021 welccrfning 169 pupils up lo Year 3. It ncm has 550
chIld￿n up to Year 5.
12

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST2023
Fulure Scho)Is
We are in positive discus$Dn5 With our cutrenl and new partners aboth further cwortunities oversea5
and were delighted to $1gn a new ￿reernent in the fmaneial year.
Key Perfomiance Indicators
KST uses KPIS intemalty and extemalty in line wrth anonymBed results from national suNeys. These
KPIS include surplus, pupil numbers, aftd a￿ern￿ results. These KPIS are anatysed within KST, by
Governors and also by the Wc*xlard Corporation.
Funds held as custodian trustee on behalf of others
KST does Th)1 ￿)Id funds or xt as ￿$t(￿lian tru$lee on behaff of others.
FINANCIAL REVIEW AND RESULTS FOR THE YEAR
The nel income for the year aft￿￿nted lo a surplus of £1.430.033. This is above expectations mainly
due to one-off income lo KCSI, oulstsn¢Jing solar PV and r*es rebate payments, improved work on
suslainabilty, caprtalisation ol some major engineering wofks and, therefore. below budget depreciation.
Aithough CovKI-19 and Brexit still has soffe continued impad on lettings. WST Enterprises Limrted
continued to hire out the Schools. faeililies dunThJ holKJays and schcol hours where it can. as well as
undertaking commercial actiwty on behalf of the Schcols and extemally. The national and international
cricket festival retumed to a full six weeks in the summer 2023 with great success. WST Enterprises
Limrted contributed £116.408 to the SchwLs' operating results King's College Schcols International
Limrted contributed £738.344 to the Schools. operating resutts wrth tumover of £766.239 contributing lo
the Group results. The Equity Shareholders. Funds increased by £1.430.033.
The parents of pupils often make sonthcant sacrifKes to pay the fees. In doing so they help lo relieve
UK taxpayers ofthe financial burden ofedu&gting a si9ntfi¢ant number of UK based children. The saving
made by the Schools is estimated to have a value irt the last year of £4.4 mill*)n.
The Company is Unab￿ lo recovertheVATon pU￿hase$ r( makes. During the pasl year. King's Schools
Taunton Limited has paid an eslimaled £1,365.684 in VAT on goods and services.
RESERVES POLICY
11 has been the Council's Fdicy to utiltse funds to ensure that hgh qualrty uplo-date facilities are
provided for the benefit of pupils. The aim is to budget so as lo provide suffi¢ent working ¢apital to meet
the present needs and future development requirements of the Schools wrf(houl the requirement lo have
recourse lo sales of tangible fixed assets. except where those are no longer reqUI￿d for the primary
purpose of the Schools. At year end the Council consider that the Charity hold5 SuffiC￿nI funds lo meet
these needs.
In comnv)n with m05t independent ￿h0o15. and due to the ha¥ing to fund their tr•vn capital investment
plans. free ￿serveS are at a negalTrve balance illustrating the extent of the investment in our schwl.
Although there is not a specffic target, KST intends lo build them up ¢)ver time. At the present stage in
the developwent cycle the free reserves are being utilised in order to finance on-goir¥J improvements
and the prowsion of additional facilits.es in accordance with the Schwls, Strateg￿ plan. The Schools
continue lo invest in their infrastructure, both wrth new capital projects and lo deliver sKJnificanl repairs
and improvements to existing fa¢ilrt*s. The sthool's total reserves of £20.51m al the year-end included
£0.08m ol restricted lunds and £3.14m unrestricted designated funds. Fixed assets held charity use
lolalled £19.82m, leaving free reserves of -£2.53m12022". -£1.e6m}. KST'S financial viability dc*s not
depend on income ￿serveS but in rts ability to Continue lo trade at a surplus on an annual basis, and on
the substantial portfolio of fixed assets held for operational use. The Schools do not have, and cannot
rdy on. permanent endowff*nts.
The Council continue5 to keep the Schools. banking facilitss urKler revi•v to ensure they remain
13

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST2023
appropriate to suFp)rt the ScPKx)Is' working caprtal ￿uirements. The UnresIr￿ed reserve 15 invested
both in cash and a balanced range of quoted investments. The unrestrKled reserves are primarily
invested in tangible fixed assets and investments wh￿h a￿ all used for the Schcols. direct chartiable
aclivsties.
Butsary lund. The Council reeognises the long tem need to SUPFQrt families who could otherwise not
afford the full school fees. In 2015 the Council albealed £1 m to a Bursary fund, the income from which
goes to support the Council's extensNe bursary programme. It is the intention lo grow this fund in the
long temi. In 2022, the decision was taken to move our investments to the Responsible Multi-Assel
Fund. Al 31 August 2023 the investrr*nts within this Bursary fund were valued at £2,377.068.
Pens￿￿ Deficit tsnd. The Company has a contingent liabilrty of Some £31,$45 in relation lo a deficit on
it5 Pension Trust Grwth Plan scheme (see also note 27). In 2015 the Council set aside £1m towards
this liability. As the Pension Deficit fund has grown and the overall de[￿rt has reduced wrth the annual
payments required by the pensw)n trustees. the fund is n(￿ larger than the deficit - in March 2021.
£587.258 was re-all(xaled lo the Bursary Fund_ At 31 August 2023 the investments wrthin this Fund
were valued al £623,035.
Investment Perforniance against ObjKtives
8ursary Fund
The portfolio. manage<l by Cazenove Capital. was valued at £2.377,(E8 on 31 Augu512023131 August
2022.. £2,C65,229), included in this fvnd is £295,467 of advan￿ fees payment.
Over the per￿￿ the portfdio relum wa$ -0.05%, adjusted for addrt￿￿S and hwthdrawals. The trustees
have aéopled a totsl return approach. and the wlhdrawals are met from a coMbinat￿n of income and
capital as appropriate. The wrt101￿ is invesled in accordance wrth the agreed inveslrr*nl strategy.
Penslon Delklt Fund
The portlolKJ, manaaed by Cazenove C4)itsl. was valued at £623.035 on 31 Augusl 2023131 August
2022. £602,586).
Over the period the portfol￿ fetum was 3.3Vk. This portfolio is currently hekl fvlly in cash and cash
equivalent investments. There is currently no income drawn from the wrtfolio,. income is re-irwesled.
N.B. Cazen¢)ve are ¢urrenlty also manajing OUT Advance Fee5 Account valL*d al £293,597 on 31
August 2023131 August 2022.. £284.102).
Engagement wilh Suppliers, Cu￿0m￿lS and (Xhers in a Business Relationship with KST
King's Schc¢)Is Taunton seeks to engage 4ctNely and positivety wrth all stakeholders in the local
community and in the whjer educathjnal landscape. Collaborative relationships with suppliers. pa￿nts,
educational partners aftd communjty leaders are seen as key enabkrs to achieving success in all ofthe
schools. oper*ions.
Durw the year the sehools have further prOM￿ed thi8 engagement though specffic initiatives including..
Regular wmmunicatxm and engagement wrth parents and prospective parents of pupils
attending KiThJ's to enhance the understanding of the provigon tg each pupil and lo fully
coordinate support lo pupils from parents and the s¢hc4)1s'.
Engagement with other educational organi%ations and partners at local and nat￿nal levels lo
share best pfactiee and lo prowde peer 5UPPOrt"
Dialogues with Icxal councils on matters wh￿h impacl children and families in the community
as well as those that relate lo the operation of each Sch￿1.
Engaging wrth le¢al businesses lo promote career and educational opp)rtunities for pupils for
their mutual benefrt..
Seeking opportunities lo engage with kcaj and n*ional suppliers in the area.,
14

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT lincorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST 2023
Seeking regular communication with all suppliers and ensuring gcod commercial praetiees of
prompt payment and c*r cc¥nmuni&itK>n to oplimise affangements for SLpply of goods and
services lo King's.
Promoting arKI encour4ing pupil and slaff opportunrties to eroage in Ictal voluntary and other
proje¢ls lo sUPPOrt the community." and
Providing c¢>nmunty acce5S to King'5 and, in m•y cases. adopting a role that puls the school
at the heart of the o)mmunty.
How the School Council Complies with Section 172 of the Companies Att
Promot￿g the su￿sS of Ihe chantable g11)UP
Section 172 of the Companies Act 20C6 requires the directors to act in the way they consider, in gwd
faith, woukl be most likely to promote the suecess of the charitable group lo achieve its charitable
purposes. The Act slates that in doing so. the directors should have regard, amongsl other matters, lo..
The likely consequence ofany dKision in Ihè long tem)
King's makes all key deCis￿nS through reference to its long-tem strategic plan and after projecting the
liming and imp&1 ofsuch decisions. This strategy is primarily deS￿ned around the objective to improve
the educational outcome for pupils. Every de¢i$KJn and strategy or policy adopted is ￿gUlarlY reviewed
for ils irnpact on stakeholders, and the need for any ¢han9e is idents.fied and implemented.
The inte￿SIS of the chaitable gn)up's employees
Our employees are vital lo KST and we ￿gard ongou)g. regukr engagement with them as a top priority.
KST Seeks employee engagement through regukf feedback and meetings. including fomal appraisals
and through the KST {staffj Consuftation Committee lin Seplember 2023, the name was changed lo
KCTCC). We address any issues raised by our employees as quickly as possible and eornmuni¢ate
back to them what we have done. Stsff are offered access to support. and all parts of KST seek to
ensure that staff welfare is actively considered and addressed. Through applution of up40-date health
and safety policies, and reguLgr meetings and consullalions, we also actNely seek to ensure that the
wothing environment meets necessary high standard5 of safety and security.
The need to losterthe charitable g￿up'S tjusiness ￿latIOnshIpS ￿th suppliers. customets, and others
Our relationships with partne￿ and suppliers are key lo our effectNeness. KST actively seeks to engage
in service reviews with key suppliers, and the Wo)dafd prCcU￿MenI manager assists in thi5 pr¢xess for
business-crilical activrties. These reV￿wS are fctussed on a two-way relationship wilh KST based with
an aim of helping one another to achieve an optimum service as efficiently as possible. achieving best
value for money. Where KST has prccured outsourced servKes, we seek lo ensure thal staff and
management from that contractor are supported as an equal member of the schcM)I communilies, and
as stakeholders.
Thè impact of the charit8bl8 groups Operat￿nS on the communrfy and the envill￿mertt
We reecgnise our responsibility to care for the environment and aim to minimise our enwronmentsl
impact in all our activitie5. A5 well as covering environmentsl issues in our ￿h0￿s, curriculum5, KST
encourages staff and pupils lo participate in initiatives to reduce neg*ive enmronmental impac15. Our
schcol promotes recycling of waste and is involved in actKJns to maximise eff￿lencY in energy
consumption.
The desirnbrflfy ol grtwp mwntaining a repulation lorhwh slandards of bu&ness conduct
Our reputat￿ and public tru51 in KST is fundamental lo our future SU￿e$S. Our ethos and values are
fundamental part of empkjyee recruTtment and lrnining lo ensu￿ that we maintain high standards,. the
same basis is used in appraisal pro￿Se$. We apply similar values and procedures in choosing school
partners and supplY&fs both in the UK and abroad.
15

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT Ilncorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST2023
PRINCIPAL RISKS AND UNCERTAiTrillES
Risk Management
Like most Irustees. the governors keep under consKlerabon the impxl of a ¢atastrophK event on the
school's abilty lo contsnue. but that event may come about frcm many causes and being spe¢rfK about
the source is not possible. The ¢onsiderats"on of risk5 in the paragraphs below refiects the curreftt more
stsble envir0￿Ment, post the Coronavirus Pandemic, offering a Trmder view of comrrKJn events plus a
specrfic risk looking at those evenls that coukl IMP￿ the eonb.nuty of education.
The governors consider the economic turbu￿nCe of recent year5 and the affordability offee$ by parents
across the independent sector lo be the prinapal risk faced by the school. The numbers across both
schools are cUr￿nIty very strorKJ. but Ihere is no r¢xYn for complacency. With increased costs and
following freezing lees in 2020 and bw increases in 2021 to support our parents, the goveming bthly
decided last year lo increase the fees in September 2022 below inflalKJn. For September 2023, with
large increases in energy, food and salay costs. the governing bc¥Jy has limited fee changes to just
above inflation.
In addition to current economic and polli￿1 Challenges, the independent sehts)Is' sector as a whole is
currently subject to polentialty increased political risk. The stated policy of one majer Oilul party is lo
remove tax concessions for charitable independent schools. If elected. and if this policy is enacted,
there is a Si9nrfieanl further risk lo the independent sector as VAT woukl have to be added lo school
fee5. This would polenlk8lly make the fees unaffordable for a fvrther proportion of parents. materially
affectin9 Ksfs income.
Heahh and Safety is always a signiftanl area for risk management. The risks range from fire and
infraslrudure to personal risks Imosl notably when away from the respectNe schools. siles on tnps and
expedrtionsl. The level and breadth of actmty at the school 1$ impressive aThJ the risks assrtialed with
all ath"vrties are minimised by thorough planning and risk assessment
The Council is responsible for Ihe ￿entifiC￿lOn and management of risks. It has a Risk Management
Policy and maintains a Risk Register for the Schools and the subsidiary trading companies.
undertakes ￿gU￿r ￿vIewS of the risk management prccesses whKh are in plaee and examines the
major specrfic risks which the Schwls face each financial year when conshlering forniard plans. The
Schoo15 and the subsidkgryc¢knpanies have developed systems to monitor and control these and sundry
lesser nsks to mrtigate any impact that they may have on the Schcds and the Group in the future.
The prinapal risk5 to which the Schcols are exposed include those affecting protection of pupils and
5ecurty and preseNalion of charitable assets both n¢)w and in the future. Signrficanl risk areas include".
the govemors consider possible serious crit￿1 incidenlsle¥enls and ensure that the school ha5
a plan in place to allcw education to continue in a range of different scenarios..
the market in wh￿h the Schools operate. which i% hbghty competitive and requires us to monit(
developments in education to ensure that pupils a￿ayS receive a first class, holistic and vafied
e(lucational expenence..
the f&1 that the Sthcrfjls operate in a highty regulaled sector. including Ihe area of child
protection and safeguarding. To assist us we appoint appcopriate professw)nal advisers to
ensure that we can keep up lo dale with all requireTr£nls as well as havlng school or individual
membership of bodEs being the conslrtuenl associations of the Independent Schools Council.
ensuring that we have *cess to up to dale infomi*ion and support..
Irse fact that the Sehools cperale in an incfeasingly li1KJ￿uS enmronmenl and we appoint
appropriate professKJnal adwser5 ar￿ purchase insurance using specialist brokers and advisers
lo ensure Ihal we can keep up lo date wth all requiremerbls and meet all re￿an1 challenges."
and
the diffieull economic COndrt￿*ns. locally. n*lOnal￿ and internalB)nally and particularly in relation
lo the imp¥1 ol inflation,. Directors and senior managers in the Schools keep abreast of
eC￿OrniC and polilKal condrtions lo tdentfy trends and devel¢)p pL4ns to address issues.
16

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST2023
The key controls used by the S¢hool$ indude..
formal agendas and minutes fcrf all meetings of the Council and commrtlees,.
terms of reference for all committees",
comprehensive strategic planning. financial forecastin9. budgeling and management
accounting".
established and idenlffiable organisalional structures and clear reporting lines:
comprehensNe forrnal wrrtten policies regarding key areas.,
clear authorisation limrts.
vetting procedures as required ty Iw, for protection of the Th￿Inerable,.
regular cont* between the Custos. chairs of Council committees. senior officets and other
staff",
regukr attendance on relevant training courses by Council Members and staff.. and
the rna1ntenar￿e and regular review of a detai￿ Risk Re9isler.
The Schools plan slrategicalty having regard for risk. The management provides the School Council
with regular reports which in¢lLKle details of the principal Strateg￿ objectNes and the actNity lo achieve
those objectNes_ The Schwls also re￿[d sNJnlf￿r1t achievements and update the Council and the
Wcodard Board on short-temi plans.
Financial Risk Management Objectives and Policies
The Company is currenlty debt flee and therefore has no interest risk exposure. The Company uses ils
trade debtors. creditors and operating lease arrangement$ to manage rts cash flow and ensure that
liquidty risk is minimised. The Companls investments are managed externally by a fimi of professional
investment managers.
GOING CONCERN
The govefning body continues to review any potential impact ofthe current gkjbal polrtieal and economic
challenges on parentslpotential parents and school operations arKI finaTr￿S. School managers and
governors continue lo work hard to ensure the SchcKJls and the Strateg￿ plan are fulty resourced, with
no detrimental impact lo our pupils, and to mrtigale any potential financk41 impact.. further developing our
excellent offering al King's. exploiting our sustainabilty efforts. improving our marketing and admissKJns.
and continuin9 to ¢Jevelop other sources of income including our oversees operat￿nS.
Monitoring closety current and forecast econ¢¥n￿$ and political decisions, having considered all factors.
including the potential impact of VAT on fees. and after revithving the avaiL4ble ewdence including our
cash flow position and forecasts, the directors have a ￿asOnab￿ expectslion that the group will be able
lo continue operats.ng for the foreseeable future and the financial st*emenls have been p￿Pared on a
going concern basis. This information reLaled to the adoptK)n of the going concem basis can also be
found in Ihe accounting policies on page 31.
FUTURE PLANS
King's Schools Taunton
The objectives sel for the year were laTgety achiev&J or are ongoing.
Subject lo eonfim81ion at the 2023-24 Strategy Meeting. the key aims for 202>24 are..
To continue the devekjpment of a Culture of eXcel￿nCe wrth a relentless focus on improvement in
a nurturing and creative environment
To cornp￿te an overarching King's College and Prep EdUCalk￿ Strategy and a suppth'ng Eslales
plan
To continue work devekwing school WKMJels - lead￿g to a >5-year strategy - to ensure financial
security and suslainabilty in an increasingfy challenging and cc*mpetitNe market where quality and
value for money is paramount
To ensure the sustainabilty of King s Schools in a volatile economic environment by being cost
effective, maximising our inlemalional development contribution. and working towards a 511A surplus
S. To continue to focu5 on improwng marketing and raising admissions, including establishing new
markels, until agreed capacty is reached for both Sch￿15
17

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS. REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGusf2023
In support of the overarching environmentsl sustaytabilty strategy, produce Solar PV and LED
development plans. and ensure continued progress towards full LED lighting and increased
renewable energy production Iprvjrity where greatest impadl.
King's Coll•ge
The objectives set for the year were largety achieved or are oThJoing.
The key aims for 2023-24 are..
To build on last yearfs a¢ademi¢ stKcess and to ensure posthve value-added results in all
departments
2. To complete detailed deveh)pmenl plans lo underpin KST ObjectNes 2 and 3.
3. To work towards lolal numbers consi8tently at 450 and beyond in the College while maintaining
downward pressure on remissKJns
To ensure the sustainabilty of King's College by bwng cost effective- including rationalisalion of
estate and review of staffing - and working towards a 5% KST surplus
To complete successful LrtiIisat￿n of the s￿th Form Centre. Ir￿luding identfying and addressing
the rabonalisalion impact on Ihe remaining estate
6. To continue lo ensure King's College is inspection-ready
7. To continue lo focus on raising finances towards future projects and for bursaries through donations
8. Further explore and devek)p our connectRJns and partnerships lo ensu￿ that the benefit of the
school to the community continues to gr
9. To ensure continuously improving l(xus on suslalnabi￿'ty induding reduth.on in energy use and
Carbon impact.
King's College Prep
The objecti'ves sel for Ihe year were largety achieved or are ongoing.
The key aims for 2023-24 are..
To Sustain the high level of SchoL4rsh¥* and 13+ successes and to ensure positive value-added
results in all departments
2. To complete detailed devesopment plans to underpin KST Obje¢tive$ 2 and 3
3. To review PrepTrre-Prep model to further improve and devebp cost effectiveness, including
maintaining downward pressure on remiss￿￿$, ensuring the suslainabilty of King's College Prep
and workirvj towards a 5% KST surplus
To explore and piopose future nursery mode15 including possible expansK)n as appropriate
5. To continue to ensure King's College Prep is inspeclion-ready
6. To lurther extend links with Nurseries and Primary schools in the area
7. To further explofe and devek)p our connections and partnerships to ensure that the benefit of the
school to the communty continues to grow
8. To ensure continuously improwng f¢xus on sustainability including reduction in energy use and
carbon Impact.
GROUP STREAMLINED ENERGY AND CARBON REPORTING
2022-23
2021-22
Energy Consumption used to Calculate emissions {kwhl
5.017.203.45 5.846,515.86
Energy Consumption break down (kwh)
Business Travel Land (Employee ¢kned Veh￿Ie$l
Combu51ion Engine Fue15 {(￿ned Transpcrtt. Plant and Machinery)
Heating Oil
Natural Gas
10.246.41
364,521.45
Not Stated
292,070.28
667,533 96
556,458 59
2,934.466.00 3,528,554 62
1.151.511.00
1.358,357.00
5.017.203.45 5,846,515.86
UK Grid Electrirjty Suppty
Grand T¢)tal
18

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT (incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST 2023
Scope 1 ernissions in metric tonnes C02e
Natural Gas
535.72
648.80
Combustion Engine Fue151(Jvned Transport, Plant and Machinery)
Heatiro Oil
Grand Total
86.74
62.46
144.68
171.41
767.14
882.67
Scope 2 emissions in metric lonnes C02e
UK Grid Electricity Supp
Business Travel Land {Employee Ch*neJJ Veh￿les)
Grand Tolal
238.45
262.68
Not State(1
238.53
262.68
Scop8 3 emissions in metric tonnes C02e
Business Travel Land {EmpkJyee I￿ned Vehicles)
2.59
Total Gross Emlsslons In metrfc tonnes C020 beforn Offset
1.1x18.25
1,152.2S
Intensity Ratv) T¢xtnes C02e Per Pupil before Offset
Out of Scope Emlsslons In melric tonnes C028
Combustion Engine Fuels (Owned Transport. Pfant and Machinery)
Grand Totsl
1.31
1.48
Offset Emlssions in melric tonnes C028
UK Grkl Electricily Suppty
Business Travel Land IEmpl¢)yee Owned Vehicles)
Renewable Electricty Generation
Grand Total
238.45
262.68
Not Stated
3.55
Not Stated
242.15
262.68
Total Gross Emissions in metric tonnes C02e after Olfset
766.10
889.57
Intensity Rattrj Tonnes C02e Per Pupil after Offset
0.99
1.14
Note". The offset for 2021-22 was included in the hwJh-level calculatKJns' but, going foThvard, in
accordance wrth currenl guKlelines. KST will report separately. In addrtion, it should be noted that all
electrity used for KST is REGO.
Group reporting requires us to include all subsKliaries and related c¢Jmpanes that qualify. The numbers
above include all qualrfying subsidiaries and relaled companies. being King's Sch(y)Is Taunton Limited,
WST Enterprises Limrted and King'5 College Schools Inlemational Limrted.
Quant1ftal￿n and rep¢ytrng methcQ
We have followed the 2019 HM Govemment Environmental Rewting Guidelines. We have also used
the Greenhouse Gas (GHGI Reporting Prot(xol- Corporate Standard and the 2020 VK Governmenl's
Conversion Factors for Company Reporting.
Intensity me8suremènl
The chosen intensity measurement r*io is lolal gross emiSs￿nS in melwic lonnes C02e per pupil. The
measuremenl ftom 2020121 was artificially high due to CovKI-miligation measures being in place
including extra common rooms for the day pupils in their year-bubb￿S. marquees and addrtional toilets,.
all requiring heating and lighting. In addrtion. the need for greater air-fl(v4 with windows and dcors open
also had a negalive carbon impact. Many ofthese rneasure5 have been removed or reduced durin9 the
22123 year.
19

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS, REPORT {Incorporating the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST2023
Measures faken to Nnprove effwncy
During the year, the schwls inylemented a number of inrtthives to improve the efficiency of energy
use. These included..
Publication of Sustainabilrty Strategy
Including energy effi¢iency as a high pftorty rtem in the new 6th Fom Centre- carbon neutral
for enefgy- wrth Unde￿wr healing, energy controls. PV panels and air source heal pumps
Continuing reviews of light ffttirtgs across both srtes to seek atternatNes. and inslallalion of LED
I￿hling where poSsib￿-
Further en￿uraging staff lo turn off lights and close windows when exiling rooms and instslling
molion sensors so that lighting is onty on when rOOff￿ are being used".
Encouraging staff. through commun¢*KJn. to tum down radiators..
Further reinforcernenl of King's Goen Team lo promote sustainability thinking and aelion..
ReplaCe1r￿nt of old inefficient gas toilers wi(h more efficient condensing boilers..
Adjusting timers on lighting and heating systems to minimise the energy demand when not
required or lo minimise Ihe lime delays on swrt¢h off timers to rninimum PTaclical levels". and
Initiating salary exchange scheme for ￿aSing elecln"c yeh￿leS.
Goirrfj fotward the schcol is engaging in a number of projects lo improve energy efficiency in future
years as fdlows".
Ongoing review of settings and the operation of buibjing management systems to ensure that
energy use is mirsimised according lo the need of pupils and staff".
Instsllation of campus-WKle building rnanagemerbt systems lo opts.mise energy usage.,
Replacement of tlEsel-powered equipment wrth ek¢tr￿ items,.
Encouraging staff lo use publrc transport. bicYc￿S and walking as an alternative M¢￿ of
transport including proMot￿)n of the CYC￿ lo Work Scheme
Encouraging staff to minirnise travel and promting the use of technok4y for meelings and other
communications.. and
Reinwgorabon of KCT Sustainabilty group arKI apwntrnenl of Sustainabilty Champions in
departments and houses.
DIRECTORS
The Directors who served during the year. and the committees of wh￿h they are members, are."
L M Nash {CustOs1
C A Cavaghan-Pack
M D Featmerntone
MAGunn
C H Hir$l (Wi¢e-Cu5tos)
J E R Houghton
J E Knill
I Comm￿ee$
Education and Pastoral
Educ*ion and Pastoral
Education and Pastoral
All commtttees
Finance and Eslales
Finan￿ and Eslales
R M U Lambert
Finance and Estates, Remuneration.
Appointments
Finance and Estates
Education arKI Pastoral
Finance and Estates, Remunerath)n.
Appointments
Education and Pastoral
Education and Pastoral. Finance and E51ates
W J Morrison
Bishop Nigel Siod(
M F Trimble
Iretred 31 Awu5t20231
R Wells-cole
Commodore J R A Woth4ard RN
None of the Directors has any beneficial interest in the Company.

KING'S SCHOOLS TAUNTON LIMITED
DIRECTORS. REPORT (Incorporatlng the STRATEGIC REPORT)
YEAR ENDED 31 AUGUST 2023
Ex•mptions fr¢rn disclosw•
KST ha$ taken of any exthMFI￿ frryn disckwrg in relath?n to tsustee detaib.
AUOITOR
RSM UK AUDrr LLP. havyg expressed thwf wil￿n9￿$S to continue in oTre. wlil be deen
reappointed for the nex¢ fina￿ra1 year ir• accordarKe with section 487(21 of the ConVan￿ Act 2cIX
unl8ss the company recei¥es nolu ¥nder 488(1) ofthe Cryan*s Aci 2006.
DIRECTORS. RESPON&&unES STATEMEiir
The Directors are responsbkn for preparing the I￿8Clus. Rem the finanoal slatements '
accordance with aF4>1Kablo Law a￿1 re9uktions.
Company law requires the Directh to prew fknancial statemerrt5 each fina￿181 year. Undw that
I￿. the Director¥ have e*eJJ to prepare financial statert￿ts in K¢Orda￿ wtth Uniled KingdL¥n
Generally Affepted Acwirrtirvj pr4d￿e Iuniled Kwigdcth A&￿Ath"Tr9 starkl0￿ and applicable *)
inclLpJing FRS102. Under corwny l•¥ th8 DIr￿trS rnust Th)t apwoNE the ffinancsal statements unless
are satsf*d that gNe a true ofthe sl* of affairs oflhe tharit*le company and
the 9roup and of the incomin9 resources and applt*¥)n of resouw. induding the income and
8>penditure, of the ¢harrtablg ccfflpany and the gr(yJp for that pernd. In prepariThJ these financ01
statements. the Directors are required to..
select sutiabl¢ ￿luntir￿j pOIr￿e$ and then them ¢orf&isteAtry
obseNe the methots and wn¢ipkns in th8 Charths SORP IFRS1Q21
make judgements and eslifflates Ihal we rèasonable and
state whether applts?ble UK accounting stsr¥Jards have been folhxed. sthjeLt lo any materwl
deparluies disd0￿ aro **ined ￿ the financol statements
p￿pa￿ the ￿n&￿la1 ststerrents on going concem basr& unless l 16 inappropTiat• to
presume that tho and the gro￿ wiu in business.
The Directors are re$Kw$th for keepirvJ •Jequ*e ac¢cwnkn"ng r￿d5 thal dis¢l)se with reasonab
curacy at any Iwne the financial F*JSrtton of tre comwy and group and enable them to
ensure that the financial sL*ments ¢¢ryty wth fv Cwies Acl 20r6. They are also res￿nSiblts
for safe9uardiThJ the assets of the charrta￿e (rynFWy and the grwp and tr￿Ce fcff lakn'r¥J reasonab
steps for the prevenlK)n and deteclion of tra￿3 other I￿ul¥l￿e$.
The Directors ccnfimi that."
so far as each is •vare. there is no rnlemt alth irrfom*tp)n olwhth Ihe charilablo
ct•mpanV$ awjitor is Un?￿are. and
the Directo￿ have taken al steps that tlw oughl to taken to rnake themseW ow* of
any relev•tt audit infomatw and io esthltsh thal Ihe ChaIrtab￿ ¢(¥yny'5 auditor aware c
that infr*matK*n.
The Direc￿$ are rnsponsibkn kn the aThJ tyity of ts wrfy*e and fm•ncièl
Inforn)at￿ in¢lud&l on ¢haritabte¢¢mpa)y'$website. Legiskti¢)n in the United Kingdom gowning
Ihe p￿parat￿ and dissemina￿ d financd s1*eMe￿ rrw drff•r frun *i$lthn in othor
juri$dtcti'ons.
Thi4 Directorn, Rwt (Ir￿￿1¥¥j the stralegr Rewt} was aFpro¥ed by the board ol dirxtsrs of Kir8'$
Schods Taunton Limited on 7 Dece1￿ 2tr23 wvj svJned on their beha￿.
LMNash
Cha
21

KING'S SCHOOLS TAUNTON LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE
MEMBERS OF KING'S SCHOOLS TAUNTON LIMITED
YEAR ENDED 31 AUGUST2023
Opinlon
We have audrted the financial statements of King's Schods Taunton Limited lthe'parenl charrtable
company'l and its subsidiaries Ithe'group.) for the year ended 31 August 2023 which crynprise the
Consolidated and Chanty Statements of Financial Aetivrties. the ConsolKdaled and Charity Balan
Sheet. Ihe Consolidated Cash Fk￿ Statement and the notes to the financi81 slalements, including a
summary of significant accounting policies. The financial rep￿tIng framework that has been applied
in their preparation is applicab￿ law and United Kingdom A￿untIng Standards, including FRS102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Iunited Kingdom
Generally Accepted Accounting Pr&tcel.
In our ¢)pinion the financial statement5."
gwe a true and fair wew of the stste of the group'5 and the parent chariiabbe company's affairs
as al 31 August 2023 and ol the group's incoming resources and application of resources,
including ils incorne and expenditure. for the year then ended..
have been property prepared in ae¢ordance wrth United Kingdom Generalty AcceptetJ
A￿oUntIng Practice., and
have been prepared in *cordants wth the r￿uireMefits of the Companies Act 2006.
Basis for opinion
We have been appoint&J audrtors under the Cornpan*s Act and section 151 of the Charities Act
2011 and report in ￿rdance wrth those Acts.
We eonducted our audit in aceordartee wrth Inlematiortal Stsndards on Aud((ing IUKI IISAS IUKI} and
applicable Our respon5ibilrties under those standards a￿ further described in the Auditorfs
responsibilities forthe audit of the financial slalemenls section of our report. We are independenl of the
group and parent Charitab￿ company in accordance with the ethical wuiremenls thal are relevant lo
our audit of the financial State￿￿ntS in the UK. including the FRC'S Ethical Standard and we have fU￿illed
our other ethical responsibilit￿S in accordance wrth these requiremen15. We believe that the audi(
ewden¢e we have obiained is suffic￿nI and appr¢Jprrate lo provide a basis for our ¢¥)inion.
Conclusions relating to going concern
In audi(ing the financial slalements, we have concluded that the Difectors, use of the goiThJ ￿ncern
basis of accounting in the p￿paratiOn of the ffinancial statenEnts is appropriate.
Based on the work we have perfomied. we have not Klentthed any mater¢al uncertainb.es relating to
events or conditions that. lndivKlval￿ or collectively. may cast Signfficanl doubl on the group's or parent
Chantab￿ company's ability lo continue as a going concem for a period of at least ￿1ve months from
when the financial statements are aLrthorised for issue.
Our responsibilities arKI the responsibilrties of the Directots with respect to going concem are described
in the relevant 5eelions of this report.
Other Infomatlon
The Directors are responsole forthe other infomiation. The other infomiation comprises the inforn)ation
included in the Annual Report other than the financkal statements and our audrtorfs report thereon. Our
opIn￿n on the financial statements dces not ￿Ver the other information and, except to the extent
otherwise explicitly staled in our report. we do not express any foffti ol assurance cO￿U$l0n thereon.
In connection with our audbl of Ihe financial statements, our responsibility is lo read the other information
and, in doing so, consider whether the other infOrmat￿ft is materialty ineonsislenl WTth the financial
slalemenls or our knowledge obtained in the audrt or otherwise appears to be materially misslaled. If
we idenlfy such material inconsistenaes or apparent material missLitements. we are required to

KING'S SCHOOLS TAUNTON LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE
MEMBERS OF KING'S SCHOOLS TAUNTON LIMITED
YEAR ENDED 31 AUGUST 2023
determine whether there is a material misslalemenl in the financial statements or a material
misslatemenl ofthe other information. If, based on the woth we have perforn￿d. we conclude that there
is a material misstatement of this other infornat￿n, we are required to that facl. We have nothing
lo report in this regard_
Opinions on other mattern pr¢scfibed by the Companies Act 2006
In tsjr o￿AlOn. based on the woth undertaken in the course otthe aKIrt.'
the infomalion given in the Directors, Report and the incorporated strateg￿ Report prepared forthe
purpose of Cfmpany law for the finan¢ial year for which the financial statements are p￿Pared is
eonsislent with the financial statements", and
the Directors, Report and the inCo￿lated Strategic Report have been prepared in accordanee with
appltcable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge ard understanding of Ihe group and the parent charitab￿ company and
their enmronmenl obtained in the course of the audrt. we have not identthed rnaterial misstatements in
the Directors, Rewt and the incorpyated Stralegic Report
We have nothing lo report in respect of the folowng matter5 Whe￿ the Compan*s Act 20C6 requires
us to report to you if, in our opinion..
adequate accounting records have been kept by the parent charitable company, or returns
adequate for our audit have not been reeeived frcfft branches not visrted by us.. or
the parent Charitab￿ company financ￿1 statements are not in agreement with the accounting
records and returns.. or
certain disclosu￿$ of direclors, remuneratw spe￿fied by law are not made", or
we have not received all the Informatic￿ and explanatsjns we require for our aud((.
Responsibilities of trustees
As explained more fully in the Ststement of Directors. responsibilities set OLrt on page 21, the trustees
Iwho are also the directors of the charrtable eompany forthe purposes of company lawl are responsible
for the preparatKJn of the financial sL*ements and for being Satisf￿ th* they give a true and fair view,
and for such internal control as the trustees determine is necessary lo enable the preparation of financial
statements that are free from material misstatement. whether due lo fraud or error.
In preparing the financial sL*ements. the Directors we responsibk for assessing the group's and parent
tharitable c¢ynpany s ability to continue as a going concem. disclosing, as applicable, matters related
lo going ¢on¢efn and using the going concem basis of accounting unless the trustees either intend lo
liquidate the group or parent Charrtab￿ cory)any or to cease operations, or have no realistic allemalive
but lo do $0.
Audito￿5 responsibilities for the audlt of the flnanclal statements
Our ct•jeelives are lo obtain reasonable assurance about whether the financial statements as a whole
are free from material misslalemenl, whethef due lo fraud or error. and to issue an audilorfs report that
includes our opinion. Reasonable assurarKe is a hEgh level of assurance. but is not a guarantee that
an audit conducted in accordan￿ wrth ISAS IUKI wll a￿VaYS detect a material misstatement when rt
exist$. Misstatements arise from frnud or error and are considered material if, indwidually or in the
aggregate, they could reasonabty be expected to infiuence the econom￿ decisicffls of users taken on
the basis ol these financial stslemenls.

KING'S SCHOOLS TAUNTON LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE
MEMBERS OF KING'S SCHOOLS TAUNTON LIMITED
YEAR ENDED 31 AUGUST2023
The extent to which the audil was considered capable of detecting irrogularities. In¢ludlng fraud
Irregularities are instances of non*ccmpllan￿ wrth laws and reguktions. The obje¢tiV8S Qt our audrt are
lo obtain sufficienl appropriate audrt evKlence regarding compliance with laws and regulations that have
a direct effect on the delemiinalion of materkal amounts and d￿l9$u1es in the financial statements. lo
perform audit procedures to hdp identfy instsnces of non-C(ympl1an￿ with other lavds and regul*ions
th* may have a material effect on the financial statemen15, and to respond approprialefy lo identrfied Of
suspecled non-wnpliance wth and regulations identffie(I during Ihe audtt.
In relal¢on to fraud. the objectives ofour audrt are lo ￿entty and assess the Fisk of material misstalemenl
of the financial slalements due to fraud, lo obtain sufficient appropriate audit evidence regarding the
assessed n5ks of material misstatemenl due lo fraud Ihrough designing and implementing appropriate
responses and to respond appropriately to fraud or suspected fraud identffied during the aud
However. r¢ is the primary ￿$￿nSIbil￿ of management. wth the oversight of those charged wi(h
g¢)vernance. to ensure that the enlty's operations are conducted in accordance with the provisions of
laws and regulations and for the prevention and deleth.on of fraud.
In idenlfying and assessing risks of material rr￿sStatement in respect of irregularrties. including fraud,
the group audrt engag￿nI team..
obtained an understanding of the nature of the sectcff. including the legal and regulatory framework
that the group and parent charitable company operate in and h¢y* the group and parent charitable
company are complying wrth the legal and regulatory framework.,
inquired of management. and those Charged with govemance. about their own K4entsfi¢ation and
a￿eSsMent of the risks of irregularibes. inclLKling ary known actual. suspected or alleged instances
ol fraud..
d¢scussed matters about non-compliance with kiws and regulations and how fraud mKJht occur
including assessment of how and where the financial 5talerrtnts may be susceptible lo fraud.
AS a result of these procedures we consider the most sKJnificanl laws and wulations that have a direct
impact on the financial statements are FRS 102. Chafrties SORP IFRS 102), C¢)mpanies Act 2006,
Charitses Act 2011, the parent chartsble companys goveming drxument. and tax legislalion. We
perfomied audit prtxedures lo detect non-¢￿￿p11a￿Ces which may have a material impact on the
financial statements which included rewewing the financial stslemenls in¢luding the Directors. Report,
remaining alerl lo ne4V or unusual transacaions wh¢h may not be in accordance wrth the governing
d¢xumenls.
The most sKJnificanl laws and regulations that have an indirect impact on the financial stalements are
The Education Ilndependent Sch¢￿1 Standards) RegubtK)ns 2014. Keeping Children Safe in Education
under section 175 of the Educatson Act 2002. and the UK General Data ProtectK)n Regulation IUK
GDPR). We perfomed audil procedures to inquire of management and those charged with governan
whether the Charitab￿ company is in Complian￿ wth these law and regulations and inspected
orrespondence with regtjlatory authontr"es.
The group audit engagement team identif￿d the risk of management overr.hde of ￿ntrOlS and donation
income. extras and other income as the areas where the financial Stale￿￿nIS We￿ most susceptible lo
material rn15slatemenl due lo Iraud. Audit prctedures performed included but were not limited lo testing
manual journal entries and other adjustments. evaluab'ng the business ralKJnale in rdalion to sunrficanl,
unusual transaCt￿nS and transactions enlere(l into outside the normal course of business, challenging
judgmenls and estimates. Addilionalty. audit prc¢edures have been perfomed to substantivety lest
donation. extras and other income foi cut off, existence and evaluabon.
A fvrther des¢ripli¢)n of our responsibilities for the audit of the financial statements is prowded on the
Financial Reporting Council's website al h
."IlvryM.frc.
.uklaudrtOtsTes
nsibilrties. This deseripbon
fonns part of our audrtLY's re￿t.
24

KING'S SCHOOLS TAUNTON LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE
MEMBERS OF KING'S SCHOOLS TAUNTON LIMITED
YEAR ENDED 31 AUGUST2023
Use of our report
This report 15 rnade solely to the charitable c(xmpany's members. as a bc*Jy. n accordanee with Chapter
3 of Part 16 01 the Companies Act 2(￿6. Our audrt work has been undertaken so that we might stale to
the charitable company s rrEmbets those matters we are required to slate to them in an audrtorfs report
and for no olhei purpose. To the fullesl extent permitted by taw, we do not accept or assume
responsibility lo anyone other than the charrtabk ￿MpanY and the charrtable company's members as
a body, for our audrt work. for this report. or for the ¢)pinions we have formed.
Isn LLL LLP
Zoe Longslaff-Tyrrell ISenK( Stalul¢xy Audrtorl
For and on behalf of
RSM UK AUDIT LLP. Slatut¢Ny Audrtor
Chartered Accountants
Portland
25 High Street
Crawley
Wesl Sussex
RH10 18G
12112123
25

KING'S SCHOOLS TAUNTON LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES{incorpornting an Income and
Expenditure Accounti
YEAR ENDED 31 AUGUST 2023
UnTrstricted R•sth¢t¢d
FuThJs
Towi
2023
TotJl
2022
INCOME FROM..
Charitable Actlvitles
School I￿$ retyvable
Ancillary trading incN
01￿1 trading activitie$
Non-arrilkqry tradiTrJ inc￿¢
Othera¢Dvibes
Investments
Investment Income
Bank and other inwrest
Voluntsry sources
Appeal Income and donations
15.5Cv).758
1.773.158
15.S09.7S8
1.TT3,158
I5,0￿,20?
1.440.822
1.181.584
4.770
1,181,584
4.770
579,491
3,996
156.385
Xl.859
156,385
30.859
43.845
2.618
82.016
17.882
99.928
114.794
TOTAL INCOME
18.738.560
17.882
18.756,442
17,241.767
EXPENDITURE ON:
R•isln9 fund$
NOr￿ncIlIary IraJiTr3
Finanung costs
Investment management
310.747
33.305
5.662
310.747
33,305
5,662
214.503
(29,842)
14,8TI
349.714
349.714
199.$32
Charitablo Activitios
Education and grant rnakiThJ
TOTAL EXPENOITURE
16.872.902
2,866
16,875.768
16.507.OT4
17.222.616
2.866
17.225,482
16,706,606
Net IWKOrn8 and expeThJiture before trawKsfw5
Reali%ed11055esygains on investment assets
Unreal¢ed 9ains on inve$trnent assets
Net irt¢ome
1.515.944
5.674
11C6.6011
15,016
1,5JO,960
5.674
1106.6011
535.161
(1fj4. 181)
52,269
14
14
1,415,017
411.940
15.016
1411.9401
1A30.033
423,249
Translers teknn fynds
NET AIQVEMENT IN FUNDS FOR THE YEAR
1.826.957
1396.9241
476.578
1.430.033
19.07S.274
423,249
18,652,025
Fund bal9n￿ al 1 Sept￿ber 2022
18.598.6
FUND BALANCES at 31 Au￿¢ 2023
20.425.653
79.654
20.505.307
19.OT5,274
In the Pr￿rYear. all In￿M• and expothj1￿r￿ ￿¥ted to unr*stria&J fvThJ$. with tt* exception of£93.&85 of YO￿n13ry i1￿me and
0.415 of9rant rnakry expenditu￿ whKh ￿￿￿ted lo wtrtted fvnds.
l amoun15 r¥laie lo continuing activi1￿$.
I reco9nised gains and b55e5 in the DJrreftt arTd ￿arare ¥KJuthd th lh• s￿￿n•￿t ￿fInancial a¢b"vl*s.
The Troles on p•3e5 31 to 48 form part ol these financial staternents

KING'S SCHOOLS TAUNTON LIMITED
CHARITY STATEMENT OF FINANCIAL ACTIVITIES{in¢orporating an Income and Expendlture
A¢¢ountl
YEAR ENDED 31 AUGUST 2023
Unrestricted
Funds
Restricted
Funtts
Tolal
2023
T¢*al
2022
INCOME FROM-
Charitable ACtIv￿8$
S¢hod fees ￿￿1¥a￿e
Ancillary trading
Other tradlng activiknes
Non-ancillary trading ￿c0
Other acbvilie$
Inve5trnent5
Investment Income
Bank and other interest
Voluntary sources
peal income aTrJ ¢Jonation5
TOTAL INCOME
15.X8,758
1,773.158
15.509.75
1.773.158
15.056,201
1,440.822
870.837
4,770
870.837
4.TlO
364,988
3.996
156,385
156.38S
30.859
43,845
2,618
82,046
17.882
99.928
f 14,794
18.427.813
17.882
18.445.695
17,027.264
EXPENDITURE ON..
Raising funds
Financing costs
Investment manageff*nt
33.305
33.305
5,662
(29.842)
14.811
38.967
(74,971)
Charitablt A¢tivbtie$
Education anLI grant rnakiryj
TOTAL EXPÈNDITURE
16.872.9)2
16.875.768
16,507,074
16,911.869
2,866
16,914.735
16.492. 103
Net I￿orne and expenditure bpfore transf￿5
Realised11055esygains on in¥e51ment aS5815
Un￿all$ed gains on inveslment assets
1.515.944
5.674
11C6.6011
1&016
1.530.960
5.674
1106.6011
535, 161
(164. 181)
52.269
14
14
Net I￿orne
1A15.017
411.940
14016
1411,9401
1.430,033
423,249
Transfers betsveen luThJs
NET MOVEMENT IN FUNDS FOR THE YEAR
1.826,957
18.598.6
1396.9241
476,578
1.430.033
19.075.274
423,249
18.652,025
Fvnd balantts al 1 September 2022
FUND 8ALANCES at 31 August 2023
20.425.653
79,654
20.505,307
19.075.2T4
All zmounts relaie lo ccThtinuiry aCtI￿t￿S.
AII ￿cognISed 98ins knsses in the CLNrent and prKrf year are in tht statM*nt of financi¥ 4¢tNite$.
notes on page$ 31 to 48 fomi pan of Ihw finanrial

KING'S SCHOOLS TAUNTON LIMrrED
CONSOLIDATED AND CHARITY BALANCE SHEErs
AS Af31 AUGUST2023
CHAR
FIXED A8seTS
T•r#Jit4e a88ets
IT.224.982
Z.924.130
101
471•.711
a924.1
3.76if11
20.149.112
20,149,213
¢URff£NT A8SErs
St¢¢kS
21.ITI
709. 142
4570.922
X,821
1,956,351
1.11&333
21.171
1,7844JJS
S.X9.443
15
4314J71
4iQ980
($2W464
T.￿•.235
(&177.4
S.090.512
4I.2T41011
7.096.269
(5,972,583)
1.123.686
¢REDJTORS:
NET CURReMT AsseTS
V.113.4•81
1.121787
11.IU56¥
2WJ,161
21.272.899
2140J.1$1
27,272.899
¢REDfTOR5: d￿ 81klnwrtr￿
17
11.197.754)
R.f97.
11A97.7541
r2.197.524
19.07&374
TOTAL NET ASSETS
X).SOSM07
11.075.374
20.SOSMOY
CAPITAL AND AeseAves
Called ￿sha￿#r
Ic
FUN08
Re5tsKted fruwJ8
Unresthdea
4T6.578
rn664
476,578
Genvnl
DESkJn4twJ
17WJJ7
3.137.716
14510.6f•
J.Q88.Q78
17.217.937
1137,711
1&$10.618
1088.078
2VI*663 la598.696 2V24
18,598,696
Eourry SHAAE1IOU￿ FUIIOS
19.07S374
20AOSA07
19.074374
The notes on pages 31 to 48 forrn part ofllwe ffinar** siatemtrrts. SI*￿ty aFVD￿￿ and
•ulh0ri5ed lor issue by 8oart M 7 De¢w*¢r 2023 sgned ￿ ts behalfby
L M 14ash

KING'S SCHOOLS TAUNTON LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS AND NOTES TO THE CASH FLOW STATEMENT
AS A T31 AUGusf2023
2O2J
2￿2
C•sh Ilm¥¥ frw operating activIt￿$."
provlded tyy l¥wd In) oper*ng a￿lt￿5
1.569,432
2.513.674
Oi¥Tr*nds. Inwest and rents from ￿NeStr￿
Jrthase ofyoperty. WiriPTenl
Oisp￿1 ofkyoperty. equil￿
Pf¢c*eds tyom of investrw
F1Jrtha$ed￿b*s1ffl*n
107,244
46.463
13,047,6011 f2.4W.8511
1.500.0
2.13&570
12,451.169} 12.462.J69J
tash provid￿ ty lustd irbl ithvestityl •diYib
Cash flow5 frw hI￿ncing Ktivilie5-.
Fin3￿n9 LYJSts
N•t ¢ash pro¥fd•d ty Iu5•d Inl financlng ac16vit
13.811.5%1 12.692.6QT?
{13,458}
117.558)
113.458
If 1.558)
Ch4rwJg In cash and ush equiva￿nts kn th•yè•r
12.255.552)
1190.49f}
C•$h ond cash ¢quNal¢nts attl* be9lMing of theyeir
6.570.922
6.761.413
Ca8h ¢•sh •qul¥al•n¢s 4tll* *nd ol th• year
4315.37
45TO.922
Reconciliation al net incom￿{eX￿￿jrtu1?I to rtt ¢•sh flowlwm
2023
2022
Net Incomollexpenditurnl for￿rIod las pw ts Stat￿￿￿1
Fin•neial Activ￿0&¥
1,430,033
421249
Adjusbnents ior.
Depretsatv)n
LOS8￿{GaInS) on Invesmrfs
Di¥*nd$, Intere518nd rents
Finan￿9 fA)St5
IlnLYeaseydectease in stctks
Ilnueaseydeuea5e In o*trlar5
Inueaselldecre85el in ¢xdrtC￿S
454,643
1TrJ.927
1187,2441
19,118
350
157,6461
I1￿,751￿
422.611
111.912
(46.46J)
2&429
16.026)
133.6831
f.6Y4645
provid￿ ty (used Inl 0[w￿n9 a¢b¥6t*S
1.569N32
2.511674

KING'S SCHOOLS TAUNTON LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS AND NOTES TO THE CASH FLOY4 STATEMENT
ASAf31 AUGUST2023
23
2022
Anatysts olcash and ¢ash aqulval•rts
C•5h al b3nk in hand
4J15,J71
6.5TO.922
Tot81 ￿8h euh equhtalents
4.315J71
6.570.9?3
ATraty$is •1 ¢h•nges in 14•t Debt
At31$tAug
2022
Oth?r ngTr At 31st Aug
ush charvJe5
2023
Cash and cash 94ulYakn15
at bank ar* In trond
6.$70,922 (2.28$￿52)
6.570.922 11255.5521
4.315.370
4.315,370
Tutal

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
1 ACCOUNTING POUCIES
Th8 principal accounting P￿loeS, all of whK* have been arW*d cijns$tenUy throwhout the year and in
the preceding year are.
al Basls ola¢¢ountfjn9
The accounts of the Grwp have been prepa￿1 under thts Compart*s Ad 2Cth and in ac￿r￿an
¥wth the Strien￿nI of RecKJmrnended Pradice for Chant￿S I'SORP IFRS1021'1 and wilh applicable
UK accounting slanéards. They a￿ drawn w on the historical oJ5t acoJuntiTrJ basis excLpt that
property and share investr￿nts he&J as fixed assets a￿ ￿rried al fair value
King's Sthools Taunton Lwnrted the deffinitK￿ ol a benefft entrty under FinancAI
Reporting Standard {FRSI 102. Assets and liabilit*s are initkilly recognwd at historical cost or
transaction Value unkss othe￿ise stated in the ￿k¥ant accounliry polTCy notes.
The preparation of financial statements in cx)nfomirty ￿ FRS 102 requires mana9ement to make
judgements. estirnates and assumption5 ihat affect the aoication of policies ￿p(￿le￿ amounts
of assets and liabilities. Inc0Th￿ and exFen5es. The estimate5 and 8ss0¢4¥ted assumptK)ns a
based on historical exPer￿n￿ ar*J varnus other lactor5 that are believed to te reasonable under
the orCumstsn￿s. the resutts of vthich fonn the basts of making the judgernen15 about carrying
values of assets and liabilit*s Ihat are nol readily apparent frorn other Sour￿$. Actual resutts may
differ from these eslimales. Further details ace WOVKled in note 31 and in the ac￿￿￿11￿ poliae5 for
dep￿cIatIon of fixed assets, for pensjons for ba¢J debts The finanoal statenwts a￿ p￿ented
in SteHing IE) and the lunct¥)nal cU￿ncY ts sierfin91È1.
bl Going Concern
The accounts have been prepared on a going concem basis. The KiNJ's S(*ools' Board ￿￿ewS the
financial infonnalvjn for the company and the grwp and ConYde￿ vthether the group and company
a￿ a going for a pe￿￿ of al kast 12 months frorn the dale of aFPTDval ofthe accounts.
Having considered all factor5 aTrJ Te¥Th￿ng Ihe availab￿ evbjence, the directors have a reasonable
expectation that the group wll be abk to continue operating for the I0￿Se¢ab￿ fiJtU￿ and the
finanoal $tslernents Itave teen prepared on a ￿1r￿j c¥•r￿M b￿5.
cl Group a¢¢ounts
The financ*al statements consol￿ale the financial statements of the Company, and all ts subsicliary
ccffipanies. charitable trusts and luTrJs wth all inter-ounpany balan￿$ being elininaied. Enib"ties
are ¢onsolidated ￿ng s sth0￿$ Taunton Limited eXerC￿eS overall control either through
ownership of shares. or Ihrough having common trustees wlh a common obJ"ective. Aetounting
policies a￿ Congstenlty applied betsbeen group compantes.
d} S¢hool fee$ re¢el¥able and slfflllar Inc<Jme
Fees re￿1vable an¢J other eduCat￿nal income a￿ accwnted for in Ihe period in which the service is
provided. Fees receivable are stated after deducting allowances. 5chol3r5hip$ and other ￿misSiOnS
by Ihe school. but inrjwle contribulons re￿Ived from restrided frjnds for 5tholar5hip5. bu￿aT￿5
and other grants. Fees in th1van￿ Stheffe Coitrads are fees received in advance of
educaljon to be provided In future years under a speofic contract. The fees a￿ eilher hell as
investrrents IA Inte￿$1 beariNJ assets until taken to income to maich lobilrties in the term when
Used, or refunded, or they a￿ hekl *iihin the Un￿51￿Cted veserves of school. Any surplus of
assets ovef liabililv&s ￿ heby within the fvnd as a butler. Debts provided for if not recovered
ithin one lemi. Esbmatiry amounls to wo¥KJe against recovery of debts is a matter or1￿gement
31

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
ACCOUNTING POLICIES Ic3)ntinued}
él Ancollary and non4ncillary tradlng Inc4Yne
Anallary IradiThJ income ￿presents amounts from activth.es tg generate fvnd5 ￿thIn the charitable
objects lor exarnpk. xhool shop sale5, coaches to arKJ from schcx)l and school trips. Non-anclllary
tradin9 income represents amunts trorn actwrt*s not dI￿¢11Y related to the tharitable objects. for
example klbn9s of Sch￿ tscilitss out of terrn tirne and rental from Spa￿ sch¢)ol bvikyings. In￿rne
Irom these adivities is ￿ts)9n1$ed in the SOFAt*then Ihe goc#Js are sold or SeThi￿$ provided.
Volunl•ry ￿Ur¢¢9. grnnts and donations
Voluntsry iK)Jming resources a￿ accounted for as and when enbtlemenl arise$. the amount can
lizbly be quantified and ihe econcrfnic berefit is Conside￿ pr0trab￿.
V¢Jluntary intome lor general purposes is a¢￿￿nted for as unrestn(led aTrJ is credited to the
General ReseNe whe￿ the dMor or an appeal has Hmrwd tro51 law restriditsn5, voluntary
inccffle is c¥edited to the relevant re5knaed fund and in¢))mirg endwmenls are acrounted for as
permanent trust capital or expendabk trust capital, accor¢ing to Ythether the donor intends retention
to be permanent or not. Gifts In kind are valued at estimated oren mathet value at Ihe ¢Jate of gift.
In Ihe case of assets for retention ¢y (wsumptK)n. or at Ihe value to the school In case of donated
ser¥tes or lacilil*&
Govemrnent grants are recc•3ni5ed at the laif value of Ihe assel r￿￿ed or receivable wh8n the￿ is
rgasonable assurarno that the grant tX*nO￿on$ will be and the 9rants VAII be received.
gl Expenditure
Expendilu¥e Ys accrued as soon as there is a contra¢Xual olM9atson w a It*)ility is Con￿d•￿d
probat4e, discounied to present value for kjnger temi 14gbilibes. Expe￿11¥re is allO￿led to expense
hea(lings either ￿ a direcl cost ba&s or aPpOrt￿ed according to tffte spent. The irre¢overable
element ol VAT is induded ￿th the rtern of exFense to whth rt ￿[￿les. Bad debts are p¥ovided for
In a¢Wrdan￿ the group bad debt F4JIKy.
The cost of refuthshity aThJ c(therting exisb.ng ￿m￿j1￿g$ is Mitien off ￿ the year in wlwch it is
incuired except where the uaful lrfe has teen exlended.
hl Pension costs
The Company part￿pate$ in The Teather5' Pensions Scheme, bthich 15 aTh unlunded &)vernment
scheme provKle benefits based on final pensonable pay The Company ￿$0 contit*utes to
defined contribulwn pen￿n schemes lor teachir¥J arKI ￿n-feath￿ staff.
The Ceffjpany historically offere¢1 membership of The Pen5ion$ Twst GrovAh Plan to employees
other than Ihe fvll-lrne aCadern￿ slaff. The Pengons Tw$t Growth Plan Is a mulb ernployerpension
stheme where the s¢heme assets are p￿Sed fo¥ InvestrneAt puwDse$ and cannot be atribvted lo
indi¥iLlual employers. Benefits are pahl from the lotal stheme assets. It is in most respects a
money purchase arran9emenL but ha$ some guarantees. As a resutt f( is not possibk or
appropflale to ￿entify the assets and 1ots"lites of the stheme wh￿h are attnbutable to the Company,
though, due to the guarantees Inhe￿nt in the sd*me. the Ccffipany r￿aInS potenty'ally liable lor
debt on withdrawal Ircffl the scheme. In accordan￿ with Finanoal Reportiry Standard IFRSI 102
Iseclion 281 the￿f¢￿. the stheme is a¢o)unted ts as rf it **re a defined contributson 5d)eme, with
contnbulions ￿¢(￿derj as they become payable.
The Company must ￿COgnISe a lia￿'l1ty measured as the present value of the contributions payab
that a￿e from the defi(al ￿¢￿Very a9reemenl and Ihe re5ulling expell5e in the income and
expendilure account i.e. unwnding ol Ihe ¢Jiscount rate as a ￿ance o)si In the period in whith it
arises. More detail ￿ given in note 31.

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST2023
1. ACCOUNTING POUCIES Iconiinwll
i} Tanglble fixed a¥¥ets and deprneklion
In ac￿rdanCe Y￿b Sects.￿ 35.10 Idl of FRS102. kn'r4J'$ Taunton knmited has e￿¢ted to use
the carrying value ol any ol the above ffeehokJ lan(1 aTrJ tsuikJiThJs previously can￿d at a vahJa￿.on.
as their deemed cosl al the date of Irangts)n lo FRS102, 1 September 2014.
TaThJibk fved assets a￿ stated at cosl kss depreciation. lTrJiV￿Ual caytal rtems, or projeds, with a
value greater than £10.(XXJ are caprtalised. Assets in Ihe ￿￿r5e of constnJetKtin are stated al cost
less any prowsion lor impaiment. They are transferred to completed assets vthen subsiantrdlty all of
the adiwlies ne￿Sary to get the asset ￿adY for use are ￿MPlete. Where appropriate cost
includ85 our LHbour c051S in ￿la￿Ort to construcbw. a￿1 ¢we¢Uy ottrtlutabk ovetheads. Assets
In the ccutse of ts)nstwction are noi dep￿tiated.
Depretsati¢)n is provhyed at rates cakulate(I to write off the rmL W esbmated re*dual value of
each asset over its expefxed useful life. as folkyAS.'
Freehold Lqnd 15 not deweaated
Freehold buikJir¥Js-.
Variable according lo the buikjing and vmtten off over
Ihe expected useful life (see paragraph below)
O¥er the useful ewiryr*c life of the mprovemnt
25% on cost
4%. $0% on cost
l￿-20%one0sl
25% on cost
F￿ehOld tinprovements..
C¢Ynp￿¢r equprnent
Fixtu￿$ and fittings
Plant and rnachinery
mot￿ vehides
The COmp￿Y has rev￿￿￿ rts langib* assets, whth c4)mwse land. builJiThJs and initi'al fixlures
and fthrrfjs The Company undertakes an annual of all ￿likyIng$ assessing their u8eful
econ¢Thmic life. In sorne case5 the useful econom￿ life of a buikjing ig anticipated to be ol
conskJerable kngth, often in excess 01 100 years The buildirys are caprtalised in the financial
statements at historic cost. The Oirector5 conlinue to carry annual assessments of the
coverabfe amounl and the estimated wlul life of all buildiThJs and where the ¢Jepreuation is a
matenal value, n ￿11 te char9ed. The revEw is based on the Llifectors. assessments of the martel
value and the futu￿ ecfJnonNc benefit derived from an asset versu5 it5 carrying value In the
finanual siatements.
When the ctyrpany undertakes a 99nificant ￿￿[biShMent projed that wll have an economic
benefrt, cost of the ￿furbI$hrnenl B capitalised. recorded separately under 'FreehokJ
lrnproverrEnts', its usèful life 15 e5tirnate(l arnj it i% tYepreoateLI over that usefvl life.
The Cornpany exerci5e5 jUdgerr￿n1 ￿ s•*dK*) of ak¥*wiate rates for dep￿labon of fixed assets,
and for rnatters of irnpairTh*nL

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES Icontinuedl
Il Financial instrnments
The Company only has financial awls and financial liabilitses of a ￿"nd that qualfy as bas￿ financial
instruments Basic financial in$tnJnEnts are inilialty recc#3nsed al transaLlion value ar
subsequently ￿aSU￿d at th*r setuement value wih ex(tplion of bank k)ans Ithich are
subsequently measur8d ai anortksed cost usro the effecbve in*￿st rneth￿.
kl In¥estments and Fees in Ad¥ance Investments
Inve$tr71ents arKI Fees in Advance investrnents a￿ carried al lair value. vth¢th ￿ deemed io Èe
marf(et value as at Ihe sheet sjate.
Realised and unrealised invest￿*￿1 gains and h)sses are reccgnised as 'net gainslllossesl on
invesbment assets, in the Sta￿2nt of Financjal ACti¥￿'e5 and allocated to the appropriate lund
accoryJin9 to Ihe'ownership. of uThJertyirg assets.
11 Sto¢k¥
Stocas ccfflprise raw materials. corNmat4e stores and goods hehl for resa￿". Ihey are valued at the
lowerof Cost net ￿811$ab* value.
ml Leasing eommibntnts
Assets he￿ under finan￿ leaseg and hi￿ purthase ojntracts are cap1121￿ed in Ihe balants sheet
and are depreriated over their usefvl lives or the period ol Ihe ￿3$e whichever 15 Ihe shorter. The
Inte￿$t ekment of the Obligat￿n5 is charged to Ihe SOFA over the Feric#J of the ka5e. Rentals
appl[cab￿ lo operating kases Whe￿ substantially all ol the be￿rrtS and risks of ownershp rernain
Ib Ihe lessor a￿ charged lo the SOFA on a straght line t)ass over the lease tenn. Lease
incentives a￿ accounted for over Ihe lease tefft) on a stratyJh¢-line basr&.
n) Fee Deposlts
Refundable fee deposts are ojrrenuy dassrf*d be￿een I￿9 twm and sh￿1 temi in the financial
statements. These depogts a￿ relurLlabk in ihe event that pupils *ave a sthool on one term's
tice and as such the deposrt woukj be refuTrJed to the parent5 at that p￿nI. However, the finanaal
staternents are prepared OTh a going corKem ba￿S and It ks assurned that the majerty ol thIkI￿rn wll
rernain in school for their frjfi years of education and Iherefore the deposil Vlill be relunded 10 them
when they kave school.
Short tem deposits refiect those pupils that wll be leaving a school W￿1h￿ one year, and the longer-
term ele￿nt reflects those pupils that will be kaviry a schod after 12 months from the balan
sheet.
ol Fund accounts
Restricted funds are suiyect to sP￿fic conditNJns by don¢ys as to h¢yw they may be used. The
purp￿5 and uses of the restricted fijnds are set OLrt in Ihe noles to the financial statements.
Deygnaled hjnds fijnds which ha¥e been sel asKJe at the di%creb"on of the Directors for
speufie purp)ses. The PU￿Se5 uses ol the desKJnated are set out in the notes to the
rinanaal *aternents.

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POUCIES Ic4)nbrH*d
pl T•x•tion
'n9's S¢hool$ Taunton Limited i¥ a wistered chanty as such is exempi frorn income tax and
corpo0t￿n tax under the provi5￿n$ of Section 478 of Ihe Cory>oralion Tax Act 2010. There is
smilar exempth.on for VAT. WW i% inckrded in eXpendrtv￿ w in ofassets as appropriate.
The Company has iht) subs*Jiary cc¥))pan* that a￿ subJ"ect to laxes including c￿rpOralKIn tax and
VAT in the same way as arny oynmerc4al oryanlsa￿on. The corporation tax arising on the subsKliary
Cc￿Panies, profil Icr the year Is mtyated by the pay￿n¢ ofGrft by Ihe5e entities to the Schtx)I
ql Termination Payments
The best estirnale of the expeTrJiture required to settk an for terminabon benefit5, 15
re￿n￿ed irnmediately as an expense. when the Group is demoThslrably ¢¢vnrnitted to ieminate th8
employment of an employee. or io provide temiinalion tenefft$.

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
SCKOOL FEES
Group and ¢Wty
2023
2Q2
lal Tlw gchools'fpÈs income compr6i•s.'
Gross fees
Less.. Total sclhJarsFty5. Lwtsa￿. eic
19.70B.881
14.199.1231
19.228,692
(4.172,491)
IS.S09.758
15.056.201
CHARITABLE ACTIVITIES. AIICILLARY TRADIPIG NCOAIE
Group and Charlty
2023
20Z2
E*r¥ ￿￿¢ts
Entrance and reyi51ratvJn lees aThJ lee5 olnaiKe
CcffjrnisSKi￿ olher iwne
1.230.289
IS6,688
386.181
i.OT8.555
90.653
271.614
1.773,158
1.440.822
OThER TRAOSNG ACTMTIES
Group
2023
2022
Non4nclllary tradlng In¢omg
Rents recetiiatrle and olher
WST £￿te￿se$ ￿rr￿le0
King's College SC￿015 Intern*wz4 lirriied
16.085
399.260
766.239
20.8
330.931
227.710
1.181.se4
579.491
2023
2022
Nor*4nclllary tr￿1￿4 Income
Rents reoivat4È aThJ olher sa*8
WST ErtWkY15es Lirrited
KirvJ'$ Coll*Je sth)0￿ Interna￿￿￿ Lui*t¢
1Q08S
116.408
738,344
20.8XI
127.473
216.665
870,837
364.988
Group Ind Ch•rfty
2023
Oth8rathlW95
2022
Interest on Overd￿ fees
LO￿ cn Sale offixed assel
5.376
17.3801
4.TTO
3.996
INVEsniENTS- INVESnlEIIT INCOME
Group 4nd Charhy
Tol¥l
2023
T¢*81
2022
S8¢urMles In¥estm8fit lficome
Equ￿eS
FW inte￿1
tnaiive$
11.659
2.339
29.847
43.845
156.385
156.385
IS6.38S
156.385
INVESThIENTS- BANK AND OTHER INfEREST
Gr￿JP￿D￿ Chrity
Total
2023
Totsl
2022
Bank intuesl
30.859
30.8S9
2.618
30.859
30.859
2.618

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
7 VOLUNTARY SOURCES. GIIAMTS AIIO DOPIATII)MS
Group and Charmy
Total
2023
Tot
2022
Donat￿r
17.8B2
99,928
99.928
114.794
114.794
17.882
8 ANALYSIS OF ￿￿oI￿RE
*} Toi•1 Exp¢ndrture
Group
Support D•w•cknllon
IrKle 12)
Stsff Costs
IDOt••)
Total
2023
Total
2022
Costs of ra451ng fiJnd5:
Non ancillary wadw
Finanung cost Inoie
lThveslmenl managen
97.838
212.909
310,747
33.305
5.fjfj2
214.503
129.842)
14.871
5.ffi2
Tolal ¢051 olra151n9 funds
97,838
251.876
349,714
199.532
Challthb￿ èxpnditui•
Tea¢Mg
Welfare
Premises
6.6%1,344
784,n4
972.S69
898,6
1.844,667
2228.102
38.421
7.898,461
2.6J3,883
3.519.701
7.459,173
2.377.468
3.669.524
318.6XI
Sthool odmini%lralK
Grants. awards aTrY wze51*1
from Un￿5￿&¢d fur•Jsl
1.195.164
1,4T2.307
93,112
2.710.583
2.851.t
10.681
Go¥ernarKe
Expendilwe from reskncle¢l
fund5
1￿.889
100.089
118.813
20.415
Total ¢havithblÈ txperbdkn
9.914.211
6.SC6.912
454.645
lQ875,768
16.5Q7.074
Totsi •xyndltur•
10.072.049
6.758.788
454.645
17.225,482
16.706,606
bl Govèm￿ce included in support
K￿9.5 Schr¥)Is Tamton r￿T￿￿￿￿e5 go%￿￿￿S ¢xl of px*ei exFerise5 In￿0￿ trayd sub515tence aryy
accomrnodal*in. ¥the￿ a daim 15 made. Three we r•rr4u5ed a total of £2.888 duriry the year
12022". fv•) reimDJrsed a loki olE1.n41.
Totsl
2023
Tot•1
2022
RernWera1￿n p8kJ to S￿l¢eS
R&rr*ur&emEnt of persona expenses lo go
29.71)0
2,889
26.100
1,774
32.SB9
Z7.674
9 FINANCING COSTS
Group and Comwny
2023
22
4,676
8.n2
19,847
2.470
9.088
(41.4001
Bank ¢harges
Pro¥*ton aTrl ¢jo￿trU1 detts
33.305
129,842)
37

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST2023
10 STAFF COSTS
The aggreoaie p•rc41 ¢05ts tr Ihe ywwere".
Gw
2023
2tr22
w￿$and sal*ies
Soci* secJJrity cost5
reacheTr' pen5iDn ¢xkllknbutiC4)S
Other pÈnsK)n tr)ntr￿Ul￿n$
Privale IAedK4 Insuwce
8209.337
72Jll
956,648
117.003
5151
7.672.051
690.405
29T
115.866
6.535
10.012.049
9.J90.15rf
Ch•rty
2022
Wages and 54kiries
Swal security cosls
Tt*hets' pension coiir*A*iois
Oth¢rpen$*)n conthbulw)ns
7.607.57T
690.405
905.297
115.866
&535
723210
9%.641
117.003
s.851
9.335,080
2023
7Wd2
Aqoregate efflF4oyee benefit5 of key manogerwl per¥orn
43B.168
437.752
The He•Jrnastsrs8fvJ Ihe DIrectorolFinar￿ aThJ Opera1•y￿are das%d Schr*Y as b•r4 Key
Mandgvmenl Per5cfjnd.
The Nn*er ofemployees *r￿18mLIuMthm%*re £ 80.tK*J was..
2023
Inthibei
2022
E 60,001- £ 70.0
£ 70.001- £ 80.0
£ 60.Tr)1 - £ 90.0
£ 90.001 - £ 1CiI.O(x)
£ 1M.001 - £ 110.OC¥)
£ 110.001 - £ 120,0(x)
7023
(nymbpv)
2022
(￿Mber)
Teachng 51aff
Other5
14B
745
290
277
Indu¢knJ In stsff cost5are lerrninakn payrr￿Sa￿j paywts in ts)tal￿ £7.2Y 12022.. £32.0591.
The amounttyjwanding aithe Y￿r-￿￿ wasfftl (2022." nio.
11 DIRECTORS
None of the direcws lor arry persMs c4*￿(￿ed them) rec*¥ed ￿ TemU￿r*￿￿ du￿ the year.
Rwwssims of £9.416¥Ne¢È**arfÈd to (hthJ P022. £13,7631.

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
12 TAXATION
The Company s 8 registered charty and Il*reth no lia￿"￿ty to tsxthn ari5e5 L*aMable 8divthe8.
TANfyBLE FIXED ASSETS
GROUP
Fieehobd
Land &
Undof
Plart& Furniturn Computer
Buildinys Col￿truCtIOn Equymni & Fittlnp8 Equipm¢rrt Vehickns
Total
Cost
Al 1 Septemter 2022
Add11K￿S
TrarBlers
17.734,Ll
1.79J.682
2.063,751
2.C63.751
1.(￿.810
528.427
943.814
570.086
1.C#)5.097
158,406
23,400 22,776,874
3,047,601
12.W.7511
At 31 Au9USt 2023
21.$00.43S
1.535.237 1.513.￿0
1,163.503
23.400
2S.824,475
Dgprocfjatlon
At 1 Seplember2022
Chaoe lor Ihe year
At 31 August 2023
3.327,540
290,868
505.495
64.305
)8.614
32,380
788.112
65.623
21.931
1,469
5.5S1,892
454,64S
3.618.408
569.800
941.194
8S3.735
23AOO
6.006,537
N•t book ¥alu•
At 31 August 2023
17.970.027
965.437
572.706
309.768
19.817,938
Nel book value
al 31 A￿￿$1 2D22
14,406,462
2.W.751
501.315
216.985
1,469
17,224,982
COMPANY
Land &
Bulldings
Undv
Pl•ni fy Furni￿rn comp￿T
Fr901￿1￿ COnstn￿ a Fttling5 EquipThni Vehlcle
Total
Cost
At 1 September 2022
dillons
Trar￿fer5
17.734.r
1.79).6B2
2.063.751
2.C63.751
1.(￿.810
528.427
943.814
570.oe6
1.tK15.097
158.
23.400
22.776.874
3,047,601
12.C63.7511
At 31 Au9U8t 2023
21,581.435
1.$35,237 1.$13.900
1.163.503
23,400
2s.824.475
Depreclallon
At 1 September 2022
Charge for the year
3,327,540
25x),868
505.495
64.305
9J8,8f4
32.380
786.112
65,623
21.931
1,469
5.551,892
4S4,645
At 31 Augwt 2023
3.618.4Q8
569.800
941.194
853.735
23,41>0
6.006,537
N•t book valu•
At 31 Augu$i 2023
17.970,027
965.437
$71706
309,768
19.817,938
Nel book value
al 31 Au9usI 2022
14.406.462
2.Ik83.751
5Ql.315
216.985
1.469
17.224.982
All assets are used for c*ar*able PLryse&

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
14 SECURtfiES INVESTMENTS
2023
2￿2
Group in¥•sknents
At 1 September 2022
New money invested
R•inv•st•(J in¢
Amounls extract
Management fees
Realised gains on investriwts
Unrealised gain5 on in¥esth)ents
3,247,525
3.108.332
156,385
12.W).8981
15.6621
5.674
IIC6,6011
2.787, 121
640,246
43.845
(96,904)
(74.871)
(164, 181)
52.269
Group in￿lMents at 31 August 2023
Less.. Investrnent5 classifièd as cash
4,314,755
(546.0441
3.768.711
3,24l,525
(323.395)
2.924.130
Group inv•stsnents at 31 August 2023
InveStm￿ts in subsKlaries
101
ioi
Compony inv•stments at 31 August 2023
3,768.812
2,924,231
Invostmènts eornprise:
U$ted Imfestm•nts
Fixed Inte￿$t
Equ￿.￿$
1.211,340
1.478,482
IT4.734
1.633,978
Altwnatfve Imfestmorfs
Commercial prokEty fvrn1s
Comrn¢yJitigs and other
163.958
951,46CI
1,078.889
Group investments •t 31 Au9U8t 2023
Investments in subsidk4nes
3,768.711
2.934, 130
ioi
Company In¥e$tm•nts at 31 August 2023
3.768.812
2.924.237
£2,081.6Cp) of Ihese investrnents a￿ hekj in the despjnated Bursary Fund.
Securthes and Investments martajed for ￿"ng'S Schools Taunlon Limiied by Cazenov• Co￿trI.
At 31 August 2023. fve inve5trnents12022.' Ihreel had a carryiThJ Wal￿ eqval lo 5% or mote of the value of
the investr)ent portfolio, beir¥J'
SUTL Cazeno¥e Chafity Sustainatle
0% Unrted ￿'r9dOM T-8ill 1￿23
0% Unrted ￿ngdorn T￿111 114)￿23
Blath Rock ICS Institutional SttrtirYJ LiqU￿ty FLmd
J P Mor9an GBP L￿u￿￿ty Fund5
2,215.716
498,710
454.286
300,￿0
300.CQO
$8.79%
13.23%
12.05%
7.96%
7.96%

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST2022
1$ DEBTORS
Group
2023
2023
2022
201.347
$6.427
6t.023
389.238
171m1
201.317
Trwje debtws
14.650
87,$81
491719
07217
491.ng
13D5.514
827
58.879
385.837
I IY8.485
1. 107
Prewments ètr)ued iw
AtTh)unt8 grwpw*rtakirys
I.IOT
709.142
1.956J58
1.16&655
11 CREOITORS."Ainoiints ralllng wtthlnone y•ar
Group
2023
p•ny
2ty22
23
2￿?
Dep05it5 f￿rn wEnts
Fee5 in adwdv£eoflE
Trae credito
Yaxe5 a￿j s￿￿41 SetsJrity tost8
Penscffl sctter￿ Def*it Rettrrf*y Pl*1
329.160
3.O6B.469
1.531.432
205.471
Jl.545
MO,896
431.79$
321.
Z81&23S
1.151Y2J
207.737
283.
785.299
787
329.•60
321.3t
2,815.235
?, I￿.320
178.984
283.909
622.f72
570.603
l.SJl.4J4
199.972
31.545
8W.215
432.606
6.246.469
&177.448
6.271101
&972.583
Summary of movement In delerred irKorne
2023
2.845.235
3.068.469
{2,045.2351
3.068.¥?
2022
3.777.150
2.845.235
fE.777.1&)J
2,815.235
8a¥n¢e * 1 sept￿￿￿3C2Z
An¥xffii$81isry m tr* year
AffWltstr¥sfer￿ w SOFA
Bakrtr ￿ 31 August 2023
17 CREDITORS.. Amowts f*ling •ftwonEye•r
Grw •nd CompAny
2023
2022
Dep)sits Iron parer)ts
Fees In Advan
1.202.494
695360
1.47&910
T21.615
1,897.754
2.197525
18 FEES IN ADVANCE SCHEIIE
Grnup arnl Company
2023
2022
Afters years
ln2.syea
Wthin1to2y
201,750
441495
?.iJo
374.4
41.055
$9$2$0
721.6JS
1 year
47,055
41

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENOED 31 AUGUST 2023
sumth￿ •1 MoY*ibienis In Ilabll
B•lan¢o4 I S•p*omw 2022
New Contr¥ts
Repayfr*nts
740.215
118.600)
721.61$
19 COIIPIIThJEplls UNDER OPERATING LEASES
GrDUP and C¢Jmpbty
*Jr￿￿e5 ruhjinys *8".
2023
2022
wfthin 1
within 1 to Syears
>).742
118,341
ILV. f09
77.201
177.310
20 SHARE CAPITAL
Group and
2O2J
2022
A￿ho￿le
100 o￿lI￿Y *kv¢s 1 e￿h
11N)
Allotted, called up and fuhlt pahl
100 ordin￿ sh3re5 c4£ 1 e*h
11TrJ
Icv
21 FIIIAKLAL *4STRuMeNTS
Gffwp •nd Cornpany
2023
2022
FINAN¢K4L ASSETS..
Inveslrnents hehl al Fvlhrwh Pth*1 LO
3.788.711
2.9Z4.1

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGusf2023
22 SUMfdARY OF hlOVEIAE14TS ON WOR FUNDS
IKwln9
Rqsouv¢qs TAhthr%
*xpèndod
G•1
Ilbo$￿)
At J1 Aug
2023
2022
GROUP AIIO CHARITY
Restrl¢t¢d Fund¥
m￿hael J Baker tra*1 furxl
Library fijn
Joan Sewell beq￿1 fund
Jobn CrabU88 awwd
Foundabffi forswt
and theArt5- grant
Ne¥Y Sith ForTn CentrE
28.656
11.400)
272S6
21.803
16.078
23219
15.078
14.875
395.L%S
18751
1411.0651
14mO
16.000
476.S78
17.882
I2.8￿)
7¥.6S4
The Nthaql 8ak•r was set up in c4 kknael Ba*w WIK) d*d in 1999. rt Is aw8rdeO lo or k%aver5
each yearfor travel outswje of Ewow trx sF4ot¢ goats *.' helpng b)cal cowfflunNEs.
The Joan Swell Beque51 fvnd hdps vaTr)u5 ac*mr ppJed5 Mi tr* stllOOI. essay proes aThJ ed￿￿.¢￿1
irtps.
The John Crtbtree *w8rd $ wesented annL41ty10 ts Th)st gthed in Lurf4erSth Fttmi.
The Fthjndation for Swt and ine Ajts Qani was a want kn¥ards the CWSblXknI of the spuls hall. Th figurE Ls retlu*l
annualty a$ pw Iht inw 4re¢Jnenl.
The Sith Form was crcupryl 2023. have. thus. t*en transf?￿ed to the
General Reser¥e.
GROUP
Unr*stii¢tsd Funds
Gereral reseryes
De*9nated.
15.510,618
2.485 492
602.586
18.414.082
234.029
20.449
117.126.189)
(*.4271
411,940
7.486
1108.413)
17.217.937
2,$14,681
623,03S
18.S98.696
11.731.560
117222M161
{100.927)
20,425,6S3
CHARITY
Unrestvkt•d Funds
General reser¥es
Designated- Bur
De*gnaled. PeTh5h)n Defirjt
15.510.618
2.485.492
602.586
10.173.335
231.029
20.449
116.115.4421
(96.427}
7,486
11Q8.4131
17,287,937
2.$14.681
623.035
18,S98.6%
11.427,813 {16.911.8691
1100.9271
20.42S.6SJ
Bursary FurKI . in 2015 £1m was alh)ca￿j tl*s ￿nd. the iictsTre from t•ll go ki supwrt KSTS #tr51￿ tr￿r5￿Y
prrqrawffle lo tsrrMl*s nrtafforf the fees.
The Cc¢npany ha$ a L*nl1wL￿t I￿￿'r￿Of £31.545 ID a defKil On Is pe￿Ir￿ Tru51 Grrr*th Flan xherr*. In 2015
the CourKil sei astsle Elm I￿r￿S Ihis hat4"hty. Ihe PensK)n Deficrt has grrA¥n and the o¥erdll defic4t has reduced wrfh
the ann￿1 payments requwed by the pensKm trustees. the fvnd bec8ffe L8rger thw %he In March 2021. £587.258 was rB-
alk)cated to Ihe Bursary Fund. 11 was and is Ihe Cwrof5 in*ni￿ to thè iatlhty the retma*)ing PensK)n Defiui
nd. KST wthL*e¥v from the schè)* wrfh effect kn 1° September. 2021 aTrJ paywi br 90% of the bjl pwgrmal buy￿1
twk pi3ce Octothr, 2022. Thert i% ujnenty a Court ra5e {deli￿￿ Q4 2024 at tne eafl*sii which ￿ impact habililies.
Sts)u￿ liabthlies &Kmse as a ol CtyJfl case. KSTS debt Increase. 115fy)uld be nthd that indiwduol
debt estyrnales be reratuL*d as at the aclLtyI tsle of exrt- 1" Septerr4)er. 2021 After the thrt tase. the ￿¥tsed 8mouni
will be cakulated and The Pension Trusi ￿11 then the remauiYKJ b8larts. KST ￿ Main￿1n the P•iym Dpfril lund to
coverthe 10% currenlty rEffla•iYffj pkJsexte¢A&l wffKvrt￿tiA9erytD ￿re thjrt ¢lÈtision.

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST2023
23 A14ALYSIS OF 14ET ASSETS BETWEEN FUNDS
Grwp* rel as5ds be*ng to th8 ¥8roA *JTrJ$a5 thJk7**'
Lohi t•mi
1S•bllhl•s
Tol•l
aSSOts
sha￿ ca￿1
100
Aesincted fvnds
Unre*Kied fvnds
79.654
79.654
General
19.817.WJ8
953.097
11.$85.344)
11097.7541
17.287.937
L*5iWate<l
2.815.715
322.001
3.1J7.716
Company
Tra(knJ subSKI￿ry
19*17.938
3.768J12
11.11J,589}
IIM97.7S4
20.505,407
101
Gmup- 31 AugUSt2023
19,817.93•
3.761.711
Ilm7.7541
20.SOS,407
Flx•(l•ss•ts Inwe¥th•iii• Il•t ¢urTrnt
Long thrm
¥•bllMI•s
TfA•l
1(Kl
Reslricted fvnds
476.578
476.678
UnTr5trrled knds
General
17224,982
45,354
12.197.52SI
IS,072.912
DeS￿n*¢
2.924.130
163.948
Comwny
17.224.U2
2.924231
685.900
Il197.52SI
1•.637,668
Group - 31 Aug￿1 2022
17.224,982
2.124.130
6t6￿81
12.117.8251
18,637.868

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST2023
24 PÉNSIOII SeHeMe$
Teachers. P•nslM S¢htmè
The School P31bupatss in the Teachers. Penswx St￿￿ fft TPn fry styne of its ieachuw 5talf. The pw5ion charge br Ihe y¢¥
indudes payab￿ lo Ihe TPS of £955.808 12022". £1.C*S.4621 81 Ihe yeaf*TrJ £78,70612022.' £86.2191 *as accrued
in resF*ct ol Cmthbuiwjrns to ths schen￿. 5cherne wa5 r• ¢nb3nts fr￿Tr Cthbef2021.
TPS is an unfunded defined benefits stheff* Tl* Teacher5. Perwrr6 Rewd&ix>n52010 la5
amended) and The Teache￿. Pen*cm Scheme Regukilb)n5 2014 {as amEntsll Meff*erStonb￿ute on a'pty as you oo" ba&s Wrfh
contrit￿￿On$ from and Ihe emtyq¥er t*w credited to the Ex(heouer. Retirernenl and othei PEnS￿ benefits are paKI by
pu￿￿lUt*J5 wvKIEd ty Parfkn*nent. The sch¢￿ has attojnted *)r*So)nir*wi￿S 10 the as irit were 8 defined conlri)utK
xherne.
The GovemTr*ni A¢￿¥y. *tUa￿ a knTral ￿ar01 of the TPS ￿ accordarKe lh¢
Public ser￿tt PeThsKns (Vdluatws and Enwyercosl fap) fknckns 2023 pUbts1￿ ty HM T￿￿ty*￿*￿ 4 years. The aim ofthe
revw 15 to speth Ihe I￿1 of fvlure (Wtri￿￿ons. ¥alL471tyJn5 I￿ dependent ￿ a55urnpkn5 abDuI the valLÈ ol
ruture costs. deS￿n of beneffts and marry Olher fa¢#£KS. The Lqiest thari?I valuat￿n olfv TPS was Car￿￿ ￿1 85 at 31 March 2020
accordanre with SeThYce (Valja￿S 4nd EmFlwrC05t Cap) Dweth)ns 2023 and the Employer C￿Int￿jl￿n
Ratewas a5s8s5ed J$n9 a9rEed assump￿ and was acceFled al lh2 ori9NI a5se55ed rale as thete was
The ¥aluation rewrt was C*parvw4 ty ethKalw ￿ 26 IXlot•r 2023. ThÈ kty e*ments ofthÈ va*Ja￿n arn..
Total 5cherno f*LMlties for 5er¥iGE (ttw¢•ki needed ai 31 2020 b meetthe sv••m olfvture cash ¥1 respecl ol
benefits earned) of£262 bl
Value of nglvjnal assets (e5tirnate¥ frjlurt the tyoceeds frcffj the Th)ti)nal ￿￿￿$b￿en18 helj atthe
v¥luaDon daiel of£zz2
NO￿jnal past $2rvti dEkilolE39.8 billv)n12016 £22 bIli￿)
Diswuni rnte i8 1.7% in excess olCPI12016 2.4% wi excess olCPII (this ch8rye has had Iheqwtest finartyi ¥gnthc*tri
As a resuft of the valu*K*). emk*)yer cc•thbutM)) rates ￿ been sei al 28 6% 01 pens￿￿ ￿ from l Awl 2024 unt• 31
ma￿ 2027 (cumpa￿d to 23 68% urKterth2 prevws valualw)n inckn1in9 a 0.08% *JffMnLthtirffi *vyl.
Rtyil London D•llh•d Contribuuon kh•m•
The Schxl pa￿&paleS • a Royal dew s(*0￿ ofits leathw 51aff and all of it5 5UFvryI Staff.
45

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST2023
25 Consolidated Statement of Financial Activitles- Comparatlve figures by fund type
Year Ended 31 August 2022
Unrestrlcted
Fund¥
Restrictsd
Funds
TOTAL
2022
INCOME FROhl:
Ch•ritable Aetiv¢lies
School lees receivable
Ancillary trading incorne
Oth•r trading activilies
Non-ancillary trath'n9 incryne
other actmt
In¥•stm•nts
Investment Income
Bank and other interest
Voluntary soure•s
Appeal income anLI donats'ons
15.056.201
1,440.822
1S,OS6.201
1.440,822
579.491
579,491
3,996
43.845
2,818
43,84S
2.618
21,229
93,565
114.794
TOTAL INCOME
17,148,202
93.565
17.241.767
EXPENDITURE ON:
Raising fund5
Non-ancillary trading
Financing costs
Investsnent management
214.503
129.8421
14,871
214.503
129,8421
14.871
199,532
199,$32
Charltable AC￿VItI
EducatK)n aThJ grant makir
16.486.659
20,415
16,507,074
TOTAL EXPENDITURE
16,686,191
20N15
16.706.606
Net rncomv and expenditurn b•forn translus
462,011
73.150
535.161
Realised Ilossesygains on investrrbont awts
Unrealised gairrt on Invesknent assets
14
1164,1811
52.269
1164,1811
52.269
14
Net income
350,099
875
73.150
18751
423.249
Transfers bets¥een knn(Is
NET MOVEMENT IN FUNDS FOR THE YEAR
350,974
18.247.722
72.275
404.303
423,249
Fund balances at 1 Septemter 2021
18.652.025
FUNO BALANCES at 31 August 2022
18.$98,6
476.578
19.075.274

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
26 SUBSIDIARIES
ErvJLqndlW¥¢s. Thts ¢thThpany Girries ¢x* Ir3ding on of the f))mmwcK411otling of
the Schxl's >￿ingS and $ports fxihiie5.
WST Er￿8￿￿¥ Lthit8d Ic£thwy 051816941 had a bJno¥Yr of t399.2EO (2022". £3￿.131?,
attry￿*S of£1 16.40812022." £127.473}. aTrJ A profft before tL¥aTrJ gfft ad oft116.408 In the yt8rtn￿J
31 Au9V$t 2023 12022 £127,473). AI 31 W 2D23 Ihe CcrnpaDy h•J sho￿￿￿¢$ of £1￿ IX>22'.
£1Q)l.
The Comp9ny owr6 all of shBre cawtsl of K¥￿5 Cc4*ytr It)*m8W Lknrfed a fthmpony
1nctsForal￿ in englandlwths. This Cali*5 out intematiwl aL*M*B5 w be￿￿OlIne
rtg's Cc4iege S(*xKd$ lrtiwnabtyial brnrted Iconpany rwJnbor. 097499361 h3d tLY1￿￿r 01 £7fj6.239 12022."
£227,710}, £738.344 profft w or¢Bwy thi*$12022 E216.&%5). aTrY b prDfjI befcrfE lax gift of £738.344
12022 E216.6651 in the yoatwood 31 NA￿U$l 2023. AI 31 2023 the Cornpany had 5hareW*s of
£1 12022.. £11-
Gros5 a65ets fur WST Ent*wes •ThthJnt b £180.101 12022 £779,1331. oTht 9w sabi￿￿e5 of E480.001 (2022".
£779,033} ￿￿9.8 c&iege Skhtyys Iniem*bthwI knmrted l&irmerfy KST Internal*￿* Ltd> had gr056 assè1$ of
£7J7,95312022 E544,3181 woss k8bhtssof£737.952 {2022. E544.317).
Al Subthianes hb¥e a mfflmon reg¢5tered ofte *ith sclttl.
27 cONT￿GENTLIABl￿TrES
King's SrhcKAs Tauntr￿ LvThted has been nobw by ￿ Pertshjns Tru* d Ihe e¥bmabJ trnployw debt OTh
thdra¥Jal frorn ihe GrN*h PL3n. based c4ry PLwn's fir4*rta•l &s 8130 Septemw 2020. hs of Ihi5 dale
the e5tsmated emOoyer debt br ￿ry.5 sc1w￿ T8unwM) Lmnittd was UIS.455 Serns 3 li3￿￿tieS
Schoo15 Taunton Lirnited have sett￿ 90% of esbmaieo Q¢t 2022 lews an winated of
É31.545 hjs tqen pr￿ed rrnlity. see 1&
20 CAPITAL CoMW￿NTs
As ot 31 Avw* 2023. the grwp had contrxted caylaf rtiatb*b) V* offv ne* &A1h
Form t￿1r@ of£95.640 indudirs VAT12022 £1.497.3991
29 ULnMATE CONTRCUWG PARTY
The Woodard co￿ra1￿)n is the ul*mate p*ty. ¥ rtgis*red (th8rty 1096270. is
incorporated In ErslaThJ Wa*5. CO￿ of the slwknr*nts of ts ￿￿¢##4￿ Crywalh>i be
Ob￿InEd from High Stregl. Abbots &cm*. Rusth. Stsfftyoshye. WSIS 38W The a¢tsXJnts of kn9's SthDo15
Tauntcffl Limrted are IfKluded within ffin•rK)81 wt•TWIt5 oftheW)*¥d c￿P￿al￿ Lmited
30 RELATED PARTrES
The Company is a ¥%ttc4ly U*vrod subyJW ol The CtywY81**. 8 regÉ¢er&l Th￿ber 1096270.
Kh is inGorpryaled in amw)t 01£118.032 {2022 E102.657) Was pa￿ hi the per￿d ID
the CotporabDn by way ol a Iw to meet CofWY¥IK%i ninrwwj ￿$1$. At y￿r 4ThJ ther• wa5 a ba&r￿E 01 £626
owed by b) Thtr C￿partY.
The Company also ui4ruLx t*) ityJ*)9 >J￿￿18neS. W En1errrf￿ Lirnled and Kirg'5 Ccqlegtr
Inlemalv)rpl Lifflded Ilotmerfy KST Inlwrwiiwl Ltd) Séè rt01• 28 a￿￿*. ￿5T En￿￿seS Lhmil& makes use
of the s¢hwl$ f*iithes for 11.5 wropal ktbr#Js. the 5cho)k madè rettA¥9es of £Z75.625 12022".
E215.1791 to WST Ertterwses knmited CAY3ts Th￿rred to these ithn9s as calerinp staff co<
the debtor t*lart* WST ENte￿I￿e$ 81 31 YJ23 was E468.832 12022. É738.5271. ￿ng'S
C￿1*9￿ Schwls IniemaiK￿I Limd8ds wnopal prr*Mtk)n of Overseas. Ihe SCtr￿
ree•ve ifKJy(* trom Kirvj's Cfl￿ge Wtyys Intyrfyq￿naI Limiled prwde 5UPPOrt and ad¥r8 lo our G￿rseaS
parfntr s¢h(￿s. Th8 ts¢hods re¢h8rged £2.444 12022." E2.7411 frx £￿tr inciiffed aTrl Ihe debtu ba￿n￿ vnih
ny's Cdlege S¢hx)Ls Ltd •t 31 2023*5£726.752 (2022. £379.9581.
31 ACCOUNTING ESTIMATE5 ANO JUOGEMEiirs'
In p￿D8ftn9 Ihe rnar￿181 sts*meni$, the are tD e5tifflts pjdgtments. TThe mawws
tyttsiled bel￿ are ¢onsdefed ¥J be most ￿n{￿an1 Lmdw51anctrg the judgemen15 that *¥ ¥lvth*d In
pr8panng S￿l•m¢￿ts aThY that imp3ct the amtrJnis reptyted In tre resulls of
OP8ratiM$. finan¢o1 po¥4tA)n and ca£hflr￿ FAYK*s are at Tr)* 1 to f￿ar￿mI *3temonts.
47

KING'S SCHOOLS TAUNTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST2023
forb80 debts
is a matter ofjthd9ement
Dw"Is
oepc6itS 818 re￿n01t￿8 n tho 8￿1 thai pupiLs ka¥R the sctsxl tenn's nclce and a5 dewsrt
uld be refuTrd8d to the p•rentS 8t thai HrM*¥W bye fm3rTht *Aknenls ￿epa￿d an a ery*em
bass arMJ assumed thal the ol chihlRn reffla￿ In the fill ye8ts ¥nd
thèr2foFo lh• dowt Wil be refvnthd to Own ttrey *aYe the 5oXDEd. Shtyt tetrn ihosÈ wpl$
t￿* will be *a￿n9 the xh￿1 ¥¥rthin ￿ ye¥. ard thB W twm e*rnw* lha¢ t*
the school alter 12 mC￿1hsfrarn the balance sheet dale.
Jud9em8ni 1$exer0￿ in 8Sbfft9bng Ihe rospknl ¥kno1f￿•S assdx tho selod*Jn ofapwowH* rate5 of
deprec4•bon 8￿fj forM•MrnofFMwrm￿I.