2022-08-31-accounts

Charity Trgi$tratlon number 1121398 ompany r•gi$tration nUm￿r 06084975 IEn9land •nd Wal•sl OUR LADY OF SION SCHOOL, WORTHING ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 •AC4P6KIIC* 31nJY2023 ¢(￿PANIEs HOUSE A24

OUR LADY OF SION SCHOOL, WORTHING LEGAL AND ADMINISTRATIVE INFORMATION Tnjsteès IArs G Buque Dr S Coldwell Ms L Hammond-11￿$ Mrs K Henwood MFA Talati Mr S Callaghan MTA Puglia Mr G RavAinson Mr R Sparkes Ms E Wamètt MrA Ctjndy J Dahill (Appointed 9 September 20211 Sètrètsry Ms L Hammon¢&lUes Charity nwmber 1121398 Company number (E084975 Rè9i$tered offKe Gra￿l¢ke Road WorthirrfJ West Sussex 8N11 48L Auditor Alliotts LLP Friary Court 13.21 High Slreet Guiklford Surr8y GU1 30L Bankèrs Lloyds TSB PO Box 1000 Andové 8x1 1LT Sollcitors Moort Bartow LLP The Oriel Sydertham Road Guikyford GUI 3SR Stone ￿.￿9 Boundary House 91 Chartethouse Street London EC1M 6HR Investment advisors Ralhbones l Northgale Chichester Wesl Sussex P019 1AT Craven Street Weatth 3 Gough Square London EC4A 3DE

OUR LADY OF SION SCHOOL. WORTHING CONTENTS Page Trustees. report Independent auditorf5 report Staternent of financaal actiwiEs 15-16 Balance Sheet 17 Statement of cash flryws 18 Notes to the finanrial $tslem8nts 19-33

OUR LADY OF SION SCHOOL, WORTHING TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGusf 2022 The lrnstees present thèir annual tewt and financial statements for the ye•r ended 31 August 2022. The financial ststements hawe been Prepared in accordance with Ihe accounting poliues sel out in note I lo the financial stalernen15 and comply wrfh Ihe charitable company's Memorandum and Artides of Association, the Companiès Act 20￿ and Ac¢ounting and Reporbng by Charitie5.' Statement of Recommen¢Jed Practice appli¢able lo chaiilies preparing their accounts in a¢cordancè wilh Ihe Finantyal Reporty"Tr9 Standard applicable in thè UK and Republic of Ireland IFRS 1021- (effective 1 January 20191. Objectiv•s and aGtivitiè$ The objects ol th• ¢haritable company as outlirted in Ihè Memorandum and Artides ol Association are Ihe advancernenl and prornotion of education and Ifaining, by the provision and conduct of an interdenominational day school for boys, girls and young adutts. In addrtion. the tharrtable cornpany ha$ the power to advancè education in any way which is incidental of arntillary to the primary object which benefrts thè local ccmmunity. Charitable aims The C¢)ngre9ation of Our Lady of Sion is a Catholic foundation. which works lo foster rnulual understanding betwean people of diffèrent religious and cultural Iradltions. throu9h lis eomrnunities in ￿entY-fOUr couniries of the worfd. The role of education in this WO￿ is vjtal and the Importance ol dialoguè be￿een people is umyaveringly encouraged. The rnission ol Sion's Founders is ever pcesenl. Through promoting discussion and finding spa¢es for dialogue, our young people re¢ognise the value and beauty ol diversity. and this ser¥es them wel as they move inlo an everd)anging worfd. O¢Jr Lady of Sion School I￿￿rthIng) aims to help yourKJ people ol all faiths and beltets and Ihose who do not have a religious belief. Valuing diversity and offenng a wam) wekome for all people 15 at the vèry heart ol Our La¢Jy ol Sion Schools. Every young person is encouraged to reach Iheir POlenti31 thfough a proactive embracing of "growth- rnind-set techniques and language. a development of inlrinsic sdf-motivab.on and thravgh excellent leaching and support from all adult5 in the school. These core values of 5elf-motivation. aehieving our highest aims and encouraging one another to be Ihe very best version ol ourselves is centfal to workinrelalionships between Sityn staff as well. Our teachers encoltrage inquisitiveness and a love for exploration. We celebrate the power of thinking and Ihe unfathomable output of thè mind. Our "challenge+" mindset encovrages all leachers to challenge every child in evèry lesson. They are min(Jful of Ihe starting point of each individual and use the educational experience to enc¢wra9e an energised joumey towards personal attainmenl and pro9ress. Our Original Mifids. Circle Evènts offer opportunities for children frorn wilhin the sthool. the town and even the County to engage wilh regular workshops which are designed lo encourage individual iesponses to concepts and original thinking shared around the scholarly "lable. The Original Minds, Cirde IOMC} brings together like4minded. bright young pèople for several free evènts during Ihe a¢ademi¢ year. We encourage every person wilhin the school to engage with the ¥￿der cornmunrty and to address {through porvjering and actions both Indiv￿u81lY and collectivdyl Issues Ythich are vstal to the lutUFe well-being of OUT sooely, oltr present and future generalions and essentsally Ihe whole wodd. This is loslered in a dimate that Is pefme8ted by the teachings ol the BitAe and wrth a respect foT olher teacfvings that support Chnstian principles. Ults"mately, the message ol Our Lady ol Sion is to consider the otheF befofe yoursdl. We work tO9elher to develop a otson ol selfless servanthood whth in turn leads lo the devolion ol our tsme an(J skills 10 sUPPOrt an(1 improvg lh¢ lives of others. We offer bursariès and other assisted placès to pupils whts would bwfrt from being eduealed wrthin thè nurturing ané welcoming ethos ol Our Lady of Sion School. As a to￿￿Centre school, focused on supporting our community within Ihe spirit of serwce, we encourage local groups to use our faalithes wherever possible And appropriate. We work with our internalional farnily of (Sitsnl schools. fundraising tts support need aCfOSS te gl()bè whi15t als¢ ensuring that our students, charrtable locus supports a variety of more local neeils. We want lo make a diffèren¢e. We regularly visrt local Nursw Homes as part of our who￿Sd￿l Community Outreach prograrnme.

OUR LADY OF SION SCHOOL, WORTHING TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 Public benefft The truslees have ¢on5idered Ihe Chanty Commission's general guidance on Pub￿.¢ benefit when reviewing the aims and objectives. The primary aim of the Ghariiable company 15 the education of children. The schgol a¢cept5 ehildren who are of average ability and above. and it actNely encourages the development of all abilities. A5 a independent school w are awafé thai fees may * as a barrier 10 5cme. and we therefore provide bursaries and Scholarships for pu￿.1$ for whorn Ihe school will olherwise be out of reach. Furtherrnore, during periods that Ihtr School is nol being used for the advancement of edtjcalion. rt is let lo members of ihe local public. We have seen an incrèase in local groups using our premise5 and we are keen to pro￿de grealer ￿ve1$ ol opportunity moving fO￿ardS. Our "artsspaces@sions¢hool" prowde5 0 variety of venue5 Wlthin the school campus to local arts groups for con¢erts, workshops, exhibitions, and smaller produclion$. Achl•vm•nts and ptrrfom)ant• roduc The following paragraph5 will look back at some ol the develtspmenl$ and improvement5 made. 2.Pr A continuing foeus has been malntsined to ensure that we operate in a safe and secure environment. We have enhanced th* premise$ in the followlng ways= New Slxth Form Centre - VISion Cenlre. We have prO￿led an inspiraiion81 space for our Sixth Forrn students which indudes a S￿l$h Slvdy Room. bathroom. pastoral office an(J Sixth Form Common Room and Kitchen. This has been relocated to the Chapèl Buildings which is more in kewng wilh the buildings ol our finest Unive￿tieS. OurA Level students will now graduate from the Chapel. We have a newly relurbished Perfoimirb9 Arts Centre which indudes a Music Deparlmenl with a traditional classroom. Eleclronic Keyboard Rl￿rn. Sin9ing Room. Drum Sludio and Vanous rehearsal studios which provide band instruments and vocal PAS and electronic drum-pad machines. We have refurbished the School Resource Centre. providing more study areas. leading areas and PC PfOV1510n. The modern building which house5 English. Maths, Art5 and Humanities has been renovated inside lo create bright and airy corridors which will Pfovide gallery spaces for students, athork and olher inspirational a￿Ork lo inspire young people and staff members. We have rJealed an Admin Hub so that adminI5trative staff can work together in the sarne office and enj¢)y giealer levels of collaboratiw and socsal InteraGIion. We have reinslaled the Staff Woik Room so Ihat leachers have space to prepare lessons wilh ICT sUPPOrt. We are developin9 Green SpaGes as part of our Sion Soil Initiative which in turn olters 5taN and young people the opportunity lo garden and grow plants, flowers. and vegetables. Thi5 in lum provides opporturmty to be 'in naluie. which supports mental wellbeing and physical health. We have Gr¢ated a Year 11 Common Room to serve our eldest sGhool pupils. This offers a "grown up" 5paGe for these young peopk, offering them areas lo stvdy a5 well as areas to relax togèther. We conlinyg to develop our prowsion and the general infra5truclure of ICT. This is phase one of more Signifi￿nt project. We have added more seating in the ￿¢rea￿Onal spaces so that young people Can comfortably sit together and ￿MmunIcate during break-times and ILtnchtimes. We have added a STEM room in Ihe Junior School lo inspire young people lo expkne all areas ol STEM subjects.

OUR LADY OF SION SCHOOL, WORTHING TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Learnin The school curriculum has ¢ontinued to be developed to ensure it is fil lor purpose both as a traditional provision and a cutting-e¢Jge offer Ihat responds io a changing world. We continue to rèview our ¢urrieulum in consideration of global events and locallwor￿lssueS and èven In response to the ongoing developrnent of technology SLFch as CHATGPT and Arts'fitsal Intelh9ence. Tra￿￿'onal curriculurns will teach children h)w to live in the ￿entleth Century. This needs irnmediate re¢tificalion so that our young people are prepared fof the worfd today their fLtlure which undoubtedly indudes iapid ch3n9e and Invention. We ccffilinuè to buhld our curriculum with Ihis in mind. Beach School has been fulty established throughout the Junior Sthool wilh all teachers Irained. Regular sessions tske place with children invofved in learning actiwtie5 on the beach front. A focus on more able Maths provision h35 enhanrRd this area and core math5 skn115 has been developed through investment in Numi¢on resourc¢$ an¢J trainin9. Wè hav¢ added elements of a Wld Curriculum and ouc youngest children now enjoy Forest School expefiences each week (Reception and Year 11. More Able children can have lèssons with an A Level teacher where Ihere is significant need to support exception￿ ability. We have also Introduced a Chatter Club lo support ¢hildren who may have had their speech and cornmunbcation devekyment thwarted through the pandem experience. Thè Teaching and Pfogre$5 meetings bring tO9ethÈr academie staff io Mew regular ¢Jata uploads so that th• academic land atbtude to leaming infomationl Can be reviewed and required intervenb.ons agreed and aclioned. The Known and Nurtur￿ infoimation Wofks alongside the acadèrn￿ rècords so that every child can be supported as an individual and Ihe education experience iailored to need. Thè school has also focused on providing more opportuniiies for stttdents to partirypate in exlemal competitions ¢fOSS Ihè ISA events. World Language5 and Maths lacullies have lully en9aged in challenge+ rnindset with opportunities an5tn9 within Ihe Language Bee initiative a(hd the Math5 Challenge for children acr055 the age ranges. STEM continues to lasonale our young people and the new STEM rotsm in the JuNor schod is helping to inspirè young people to explore the lull range ol STEM subjecls and inspirè inleTest. W¢ have developed out Key Stage 5 provision through the addithon of ¢OLJrses. New ¢ourse5 are.. A Level Econom A Level Law We are hopin9 to add A Level phi1050phy in 2023Q024 We have enioyed retuming to reshlential ant1 daytrips to enhance cyjr curriculum through extra-curricular activitses bolh in the UK and overseas. We appointed new Key Stage Coordinator robes into the middle-management structur8. These roles focus in on the aca(Jemic and pastoral wellbeing ol children in Key Stsge l and 2. 4. Pastoral and Safe rdin We appointed a r¢ew member of staff into cwJr Senior Leadersfv"p Tèam. Pa$ltsral Care is Ihe overall re$ponsibih'ty of the Senior Leader (Pastoral & Saleguardingl DSL. Th& Headteachor (Oepuly DSL) and Deputy Headteacher (Deputy DSL) assi$15 the Senior Leader OSL in ensuring ihal thè school provides the most appropriale support lor chIld￿n to mèet current needs. Preventing issues Is an important part of Ihe pastQTal support ar￿ therefore Earty Help is in helpirKJ 51LTr(Jenis through difficultieslneeds beFore they escalaie into Goncern5 whith are far greater. Staff are aware of the importance of sharirrfj their concems abcwjt studenis as and when these arise. This ethos ol proactive care Is deaty d¢xumented in our Safeguarding Policy.

OUR LADY OF SION SCHOOL, WORTHING TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 The role of the Key Stsge 3 C￿OrdInat9T and Form Tutors 15 lo rnonilor the pastoral and acadernic status of children in Iheir care. They proadively rnonitor 5tuden15 through active cornmunicalion with Form Tutors and Subject Teachers. The Senior Leader IDSLI and Depiity Headleacher (Deputy DSL) are a150 consulted and will be updated regarding any curreni ¢on¢ern and agreed action plans. to ensure that every student in need is supported and that posjlsve aulcornes are achieved either through Early Help within the 5¢hool or through additional support from external agencie51Local Authority support through the MASH IMulb-Agency Safeguarding Hub). The Senior Leader IDSL) holds regular meetings ￿th the Key Stage 3 Co-ordinator. Forrn Tutors and Lèarning Support Co-ordinator to high1￿ht and discuss any sludents causing concem and to a￿ee an action plan that is fit for purpose and a¢hieve5 ￿$l￿ve ouicomes. Thèsè are reviewed evèry week. All staff are regularly rerninded of Ihe need to be ￿gilant in school an¢J to understand that Child Pfoleclion issues could happen heie. They a￿ encouraged to share any concèm - however small th31 may be- as these pieces of information are very helpful in building Ihe broader picture and can be viial as we focus on salè9uarding every individual. If there is a need lor rnutti-agenry support or is a Chikj Protèction concem. the DSL will reler to the MASH for advice and inform the Headteacher. Staff must have a good understanding and knowledge of KCSIE including the information in Annex A. Safeguarding updates will be issued by the DSL throughout the yèar and all staff will need lo remain updated regarding online safety and other wlal information shared by the DSL. Infomation will be shared V5a email updates, with staff briefings and meeting5 and throu9h lormal training. In response to the concems raised in Ihe OFSTED report on sexual hara55ment and vidence, we Set up the What Matters Programme. The 'What Matters, Prograrnme is COTrordinaled by the Senior Leader IDSLI and Tuiois and the 'What Malter$' Team together with the Mental Heallh First Aiders. The programme aims to 5UPPOrt the student's mental health and general wellbeing. The support is provided through wellbeing advice 5e5sions and thrgugh the 'Whal Mallers, PTOgramme for each year group. What Matter5. Workshops - these foGu5 on ffl¢ntsi health, wellbeing and social issues that ar¢ relevant and cuThent to everyday lile. Thè areas exploreij indude anxiety. stress. depressK)n, mental healm awareness, harassrnent. anti-bullying. equality and gender issve5. and cover staying safe and when tts see further support. 'Whal Matters, Ses5ion5 - the aim is to encouragè the students. academic. social, emotional. and personal development. This 15 achieved through providing students wth iegular space and lime to lalk- and think- about worries, conceins and difficulties and help them find effective solutions to these. Studenls are provided with age-appropriate infomation and guidance lo help thern achieve their goals and an improved general wellbeing. Referials for fvrther support may be made by Ihe Pastoral leam, teachers, parents. other colleagues. or the student. The 'What Malters, Assembly and Tutor-lime programme are all used to promole our school ethos and to ensure that studonts are gTven the opportunity to discuss important issueslevents, hear about importanl areas ol Safeguarding ICSE, E-safety. Preventing Radicali5ation, Bullying. el¢l, and reflect upon thèir s)wn viewpoints and academic PTogr•ss. The Fomi Tutors work dosely with Ihe Pasloral leam to ensure that studenls are given regular opportunities to consider how to remain safe and how to posrtively support Ihe ¢ommunity in whi¢h thèy live. The Seni()r Leadèr IDSLI. Headleacher, Deputy Head and Mission Oirector all run Year group 'Whal Matters, sessions about ¢urrent matters raised through the anonymous Learning Platform tyjtton, and relevant Yeai group issuès raised via the Student Pillars. Wè also proV￿e our parents with briefings al Parents, Evening. covering a￿5 suth as Radic81isation, E Safely and Child Sexual Exploitation. Our Leaming Platform has a'staying Safe, area whith a150 links lo'Parenl Info..

OUR LADY OF SION SCHOOL, WORTHING TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 xtra-cufficul We provide our pupils with a Mix of extra-curricular actwitses lo boosi theif confidence to intèract socially with olhefs,. extend their social networks", and provide t￿M with new skills and abilrtie5. These activities offer an important space lo have fun and relax away from the pressures ol Schoo￿Ork. Extra-curricular activities help our students to leam about themselves and develop and use their skills and knowledge in differènt contexts. They can a150 aid in the development of $elf-eStewn and confidènce. We reco9ni$8 that students partictpate in valuable activAie5 Outside of sch901 and these also conlribule to their overall development. Intereslingly. one ol ovi popul¥ actiwties has been 9wdening. The Scho￿ has employed a part-time Mafkèting Managei wtth a view to ￿mC￿Je11lfig the mafketing strategy lo meet current economic and consumer needs. The Marketing Manager has wewed th¢ cwrÈnt marketing efforts and des19ntd a ffive-poirnt pritirity plan accordingly. The irntention Is 10 Gomplete the website overhaul. incfease online presencè. redesign the currènt prospectus, embrace social rnedia platf¢rrns. and introduce a loyalty rwards schemè. The firsi loctss being that ol Ihe website, ensuring its fijnctionalily lor exis￿"n9 parents. but mosuy. to enhance its position as an informalive, concise promobonal t(KJl lor forthcoming parents. The Marketsng Manager has also reviewed the current adverh.sing schedule and is in the process of mowng away trorn print publications to onh'ne advertisin9 Opportunities. This will he￿bY prowde greater tracking opportunities and success monrtoring of indivHlual campaigns against twdget spent. The Gurrenl pr05pe¢tus ha$ been identified as out ol tune with curtent enviTfmmental concèrns both in its physical form and it$ ¢orntènt doès not reflect the 01he￿i$¢ forwarthlhinking m¢)vemèrbls vlithin the school, such as the popular, plant-based kitchen. The school has fully ￿nplemented the GDPR le9islation introduced in May 2018. B. School C arism The Headteachec works very dosely with the Mission Directoi and the Intemational School's Congregational Team to safeguard and promote the Charism as grfted to us by our Founders, Aphonse and Theodore Ralisbonne and conlinued through the Sisters ol Our Lady ol Sion. Exchang85 Wlth our family schools have $tsrted lo re-open and there is now rnuch greater activity online be￿een the family of schools. The school aims to make places as affordable as possh and encourages applications for bursaries and scholarships from larnilies in varying financial circumstances. We offer subjecl schdarships and ethos scholarships". Lovise Humann Ratsibonne Sapèrn Aude Isixth Fomil We oller our premises to local groups for a mKiimal fee {or freel. We are proactive in offerin9 supporl to lo¢al charibes and global charities and local nufsing homes through ¢)Uf cornmunity Outreach progfamme. Wè allow local groups lo use our latslities free of d)arge Such •$ Wtsrlhing Arts"sts Opert Houses, Guild Carè, etc. Our Community outreach programme visits local hgmes for the elderly and disabled, performing music. po&try. an(1 readings. They also talk with Ihe rè5ident$. Our sludents havè perforTned al charrty concerts. Our Junior School hosted inler-generation workshops rLm by our English Department.

OUR LADY OF SION SCHOOL, WORTHING TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 10. Pv Year Reception Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year11 Year 12 Year 13 Year N1 Year N2 Totals ales emale$ otal 10 12 14 17 14 10 52 39 19 52 53 10 13 187 76 63 2022 Level GCSE • Grade 9-7 ational Avèra è Grade 94 atlonal Avera 12. A evèl Stslis ics 2022 % A Levgl Pass Rate 100 Grade A"£ PQ% A" Flnancral r•vi•w Th¢ Statèmeftt ol Finanual Activibes ISOFAI ¢an be found gn page 15. Thè net movemenl In fvnds for the year to 31 August 2022 is a surplus of £39,682 12021.. £386.887 surplus). Total incoming resources increased by £26D,171 to £4,184.669 and total expendrture increased by t339.839 to £4,036.233. There was a loss on investments of £108,95412021'. £156.583 9ainl. Depreciatiorn charges lor Ihe year amounted to £139.55012021'. £131.7131, so the operating profit before depr¢Giats"on was £288,18612021. £360.017 sufplusl. During the fiscal year. the Sthool experienced steady growth in pupil numbers. The lolal enr￿rnent increased by 50 compared lo Ihe previou5 year. writh a cuffeni student populalion of c380 sludenls. This growth is a positive indicator of Ihe 5choofs reputation. a¢adeTnic excellence, and anrackn"vene5S to prospective farnilies. The increased pupil numbers have had a direct impact oft the school's financial hearth by generatlDg additional fee revenue lo support various operalional and developmèntal initiab"ves. The two scholarships introduced in 2021 continue to interest new parenls. The Ralisbonne S¢holaI5hip looks to finanually $upport younger pupi15 who show a voracious appetitè for learning. The Louise Humann 5rhdarship has had a similar impact in the senior school, and look5 10 support children who may have expernenced diffiwbty during the lockdown period, and req¢Jire support reluming to an e(Jucation environrnent. These scholarships are given in the Sion spirrt ol the school, supporting familie5 who would benefit from the srnall and pasltsral enwronment the school offers, bul also recogni5es that strong financial contributions and managernent ensvre the stability and Ion9evity of the provision.

OUR LADY OF SION SCHOOL, WORTHING TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 Cufrènt pupil numbers are 5h¢iwn on page 6. To ensu￿ Ihe sustainability ol tre school's operats'ons and the dèlivery ol a high-qualty edu¢ation. the School implemenled a modest increase in school fees for the 115cal year. The fee adju51rnent was carefulty considered to strike a balance be￿eert meebng operaiiDnal costs and maintaining affgrdabilty for families. The increase in pupil numbers and school lees resultèd in a 6Ph yrowlh in tuition revenue, contributing to Ihe financial stabt￿ty of the 5chod. The prevailing economK conditions during the fiscal year presented both challenge5 and opportunities for the school. Economic fluduations and uncertainties can impact familiÈ5' finanTral capakn"liltèS, Polentially affecting their ability to afford private education. The school remained vigilant in monitoring school fee collections and Implefflented a robust finanrial prTr3ram to support families in need while ensuring financial sustain8bility. The improvements lo the bursary applicabon process provi¢Je a framework that all¢x5 the school to provide fee romission where rt is nèeded most, whilsl ensuring continuèd growth of the si*ool. Thi5 also Se￿eS to reinforce the charitable aims ol the school. The School continuèd lo invest in marketing initiativès to ratse awai•ness and attraci nèw students. The school irnplemented a cornprehensive marketing strategy thal induded digital advertising carnpaigns targeted to reach prospective families close to the school. The local rewlation of Ihe school is 51rong and we look tts wèlcome rno families from within a mile radius of Ihe school and strengthen these comfflurnity links. These efforts have helped increase the 5chod's Msibility. resulting in a higher number ol enquiries and hopefvlly successful studenl convèrsions in Ihe coming years. Effeeiive markèting 51rategies have F4ayÈd a vitol rtsle in sustaining and growing pupil numbers, consequentty bolslering the schod's financial posth'on. Maintaining and improving the sehoofs infrastruclure and faolities is crucial to providing an optimal learnin9 environment for students. During the f15cal year, the School alL￿ated a signifirant portion of its budgè1 10 Ihè maintenallce and enhancement of the school site. Thi5 induded repairs. renovations, and upgrades lo classrooms and other key areas. By investing in the upkeep and modernisation of the school's physical assets. Ihe school ensures the longevity of ils facitslses, enhances Ihe Student experience. and maintains its placÈ in the educational market. The school has made Signif￿nt investments in improving 115 facilth'es to enhancè the learning environment. Recent renovation5 have Ind(￿e￿ the improvemènts 10 the A Bknck cortidor5 and stairwells, decorating ol dassfoonis, and the inlroduclion of the comrnon loom lor year 11 pupils. These improvements have positively impacted the overall student experience. attracting prospectyve parents and maintaining th¢ 50b"slaciion of ¢urrenl familie5. The Sirategy to retutn to pr0fftab1￿"ty has baen su¢xessful, ailh¢ugh it has requirèd strong finanual man39ernent that has reouired careful and considered communications 10 slaff. However. there is still work to do to ensure that Ihe progress seen lo dale continues. The school shares strate9ic plans with staff. increasing their financial literacy and awareness of their impaci on t)perational Fevenuès and cosis, and movès forwards implemenling difficull decisions that protect the future of ltre sthool. The GO¥err￿lS made the decision to slart chaT9in9 for Ihe Sixth Fom7 from Seplernber 2021. The new provision provides an energi5ing environment for leaming and further education. Whtlst charging l•es iniknally feduced sixth form pupil retention in 2021122 thefe is a significant improvement in 2022123 registrations. The Governors and Senior Leadership Team reco9nise that some finanual deasions may not delivèr immediatè results, but remain commrtt•d lo delivering a long tem plart tt￿1 allows cortb.nued invèstment in the schwl. The school's investment portfolio reported a value 01 £1.487.160 {2021 t1,S92,0231 al the year-end. The investment porrfolio is managed by two dtherenl investment managers which minimises the charity's risk in this area as they have been provided with ¢Yifferent profiles and remits. The investment managers met with Finance & General Purposè Committee during thè year to discuss the performan¢e and rNsk profile ol each fund. The investments are held lor Song temi gain and Ihe recent huctualions due io COVID and the Russiat) invasion of the Ukraine are expected to revef5e over the duration ol the holding_

OUR LADY OF SION SCHOOL, WORTHING TRUSTEES, REPORT IINCLUDING DIRECTORS, REPORTI {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 As at 31 Augusl 2022 re5eives lotalled £2,913,279 12021-. £2.873.5971 with £13.685 12021." £13.6231 held as restricted fund5 and £20.798 12021.. £20.7501 as designated reseThes. This leaves free resèrves of £1,909.201 12021.. £1,816.7911 although £1,487.160 12021.. £1,592.023) is tied up in investmenls at the year end. The Governors have Set a reserve policy ol ensuring that the School ha$ the equivalenl of six Months expenditure held in reserves. The governors are comfortable thal the Charity rèmains a going concern and Iher&fore the optson of the goin9 concein basis lor prepar￿9 the finarnaal slalements iemains appropriate. The trustees have a risk management strategy which wrw"se$". An annual review of risks the charitable company may face. The establishrnent ol systems and procedures to mitigate those risk$, idenkn"fie(l in the plan. The ifflplemenlation ol procedure5 designed to minimise any potential impad on the charilable ¢ompany should those risk5 malenalse. Particular attention ha5 ¢onts"nued lo focus on noTrfinancial risks arisin9 from the carè of children or other people, staff or visitors. who may tènd the School. As well as the laws tsn ¢hikY protection and health and safety issues the School reviews its serv￿￿$. ffinancI￿ and gtneral exposurÈ to risk on an ongoing basis. Stru¢ture, govémance and management Governin Document The charitable company is a company limited by guaraniee. govemed by ils Memorandurn and Artides of Association which w•r• drawn up on 26 January 21x17. The liability of members 15 limiled lo £10. The ¢haritable company registered with the Chanty Comm1$510n on 29 Oclober 2007 and began its fiist period trading a5 an independent charity on 1 January 2008 under charity numbèr 1121398. Ouf Lady of Sion School GoverrKJrs, as the twstees of the cthariiable company, ¥e legally responsible for ihe overall mana9emeni and control ol bolh the Junior and Senior School. and meet at least three times a year to agree the strate9ic objectives for the Scho￿. Our Lady of Sion School Govemors. a5 the trustees of the ¢hantable company. are legally responsible for the overall managernenl and control OI bolh the Junior and Senior School. and mèet at least three times a yèar lo agree the Siralegic obje¢tives for the Sthod. The Board ol Gtsvemor5 shall Consist. when complète. of not less than eight and not more and fourteen competent pÈrson5. Ai each AGM. a Ihird of all Co-opted Govemors shall retire and as appropriate apply for re-appoinlmenl. The work of monitoring the implementalion of the finance strategy is caffsed out by the member5 Of the Finance and General Purposes Commiltee IF&GPI. Other principal ¢ommittee5 are convened when necessary. The day tts day running of the School Is delegated to the Headièacher supported by Senior Management Teams. togèther with the Bursar. The Headteacher and the Bursar attend meetings ol the above Commiitees. The School is subjecl to the inspection regime Set in pla¢e by the government. arKI the resulb"n9 inspeclion reports are posted on the school websrte_

OUR LADY OF SION SCHOOL, WORTHING TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 The trustees, who also the directtys the purpose of ¢ompany law. and who 5eryed during Ihe year were". Mr5 G Buque Or S Coldwell s L Hammond-llles Mrs K Henwood Prof D Read r A Talati Mrs R Beattie r S Callaghan Mr A Puglia Mr G Rawlinson Mr R Sparke5 Ms E Wamett MrACundy J Dahill {Res￿ned 1 S•ptember 20211 (Reswned 23 March 20221 {Appointed 9 September 20211 ruitmen in eè New trustees are inducted into the workings ol the School by way of a thorough briefiTrJ by the Hèadteacher and the Chair of Governors. followed by a lull tour of thè School. AJI Irustees are alsg encouraged to VTSit the School on a re9ular basis by arrangement wrth the Headmaster. Trustees are encouraged lo attend appropriate extem81 Iraining events where these will facilrtate Ihe undertaking of thèir role. or 85SlSt thèm with spècific areas of responsi￿￿ty. The Committèes ol which the Iruslèes are Membe￿ afe.. Full Governing 8o¢y Committee Finan¢e & General Purposes Ccwnmittee. induthng Marketing Pay Review Comrnittee Health & Safèty Committèe Education Committee Governance Committee el ie The School is dosely associated wilh the Congregation ol Our Lady of Sion. Ilhe Order}. Prior to Independence the School was owned and Ultimately ¢￿trOlled by Ihe Ordèr. but managed on a day-to-day basis by the Board of GovernoTS. The Schotsl becarne an independent charity on l January 2008, atthough The Order retains ownership ofthe school propety. A monthly rental payment is made thrwgh a lease agreement.

OUR LADY OF SION SCHOOL. WORTHING TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Statement of trustees. responsibilities The trustees, who are alsg the director5 01 Our Lady of Sion School, Worthing for the purpose ol company law. are respon51ble lor prepaiing Ihe Trustee5' Report and the financial statements in accordan¢e with applicabk law an($ United Kingdom AcGounling S18ndards (United Kingdom Genefally Accepted AccoLtnling Pra¢ticel. Company Law requires the Iruslees lo prepare finanaal stslements for each ffinancial yeac whKh give a true and fair view of the State of affairs ol the charilable company and of Ihe incoming resources and ap￿Ie?￿On of resource5. induding the incorne and expenditu￿. of the charitable cnmpany for that year. In preparing these financial slalemenls. the twslees are required to: Select 5uilable atsgunling wJlirie5 and then apply Ihem consi$lenty.' . observe the m&lhods and principles in Ihe Chairties SORP., - make judgwnents and estimates ihat are reasonable and prvdent.. state whether applicable UK Accounting Standards have been followe(l. subj'ect to any malerial dePartU￿S disGlosed and explained in thé ffinarrial stalements", and preparo the finanaal statemtrnts on the going concem basis unless it is inappropriate to presume that the charitable company wll ￿ntinUe in operation. The trustees are ￿SPonsible for keeping adequale awunts.ng records thal disdosè wrth rèasonable accuracy at ny time the financial position of the charitable company and enable them to ensure thal the financial statements comply the Companies Act 2006. They are also responsible for safeguarding the assets ol the charitable company and hencè lor taking iea50nablè steps for the prevention and detection of fraud and other irregulafib"es. Auditor In accordance with thè cornpany's a￿"des. a fesolution proposing that Auiolts LLP be reappointed as audilDr of the company will be pui at a Gentrral Meeting. Dis¢10sure of infomiation to audltor Each of the trustees has confirmed Ihai there is no information of which Ihey are ￿re vthich is relevanl to the audit, but of which the auditor is unaware. They have lurther ￿NfIrMed that they have taken appropriale steps to identify such relevant inlomation and to establish that the audi1Of 15 aware tsf svch infomation. The trustee5' reporl wa5 appfoved by the Board of Truslees. Mrs K Henwood Trustee Dale". ..3010512023...... 10-

OUR LADY OF SION SCHOOL, WORTHING INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OUR LADY OF SION SCHOOL, WORTHING Opinion We have audited the finanoal statements ol Ouf Lady of Sron School, Worthing {the 'charitable company'l for the year ended 31 August 2022 which comprTse the ststemenl of financial aclivilies, the balance sheet. the statement ol cash flows and noies lo the finanrial slalemen15. indudin9 5MJnfficant accounling policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Aecounting Standards, including Financial Reporting Standard 102 Thè Financial Reportity SIAndanY applicable in thè UK and Republic ol Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion. Ihe financial statÈments". give a truè and fair view of the state of the charitable company's affairs as at 31 Augusl 2022 and of 115 incornirTg r850urces and application of resources. Ind￿ling jls income and expenditure, for the yèar thèn èndèd., have been properfy preparèd in accordance ￿1h Unrted ￿ngdoM Generally Acrepted A¢counting Praetieé.. an¢J havè prèpafed in actofdancè with thè rè4uirernethS of Ihe Companiès Act 2006. 8asis for opinlon We conducted our asjdit in aCc￿danCe with Internalional Standards on Auditing IUKI IISAS IUK}l and applicable law. Our responsibilities under those standards are further described in Ihe Audifovs TrspOnsi￿1ilItr$ for th8 a(Jdil of thè financial statements seclK)n ol our report. We are independent ol the chantabte company In accordance with the ethical requirements that are relevant lo our audit ol the finanoal statements In the UK. including the FRC'S Ethical Standard. and we have fulfilled our othef ethical responsibilities in accordance wilh these requirements. We believe that the 3udit ev￿lence we have oblained is sufficienl and appropriale to prowde a basis for our opinion. Conclusiob7S r•lating to yoing con¢em In auditing the finanual 5talement5. we havè ¢on¢luded thal Ihe Iruslees, usè ol the going concern basis ol a¢rounling tn the pieparab.on of Ihe financial statement5 is appropriate. Based on the work we have performed. we have r￿t identified any malerial uncertainties relating to events or conditittns that. individually or colleciNèly. may cast Slgnthcant doubt On the charitable company's ability to continue as a going concèm for a period of at lèast kn¥•lvp months from whèn the financial statements are authorisèd lor issue. Ouf responsibilits'es and the responsibilih.es of Ihe trustees wrth respect to going ￿Tr¢em are described in the relevant sections ol Ihis report. Other InformatSon The other infomialion comprises Ihe ￿fOrMat￿}n induded in the annual report other than the financial statements and ¢)ur auditof s report thereon. The Iruslees are responsible for the olher information conlained wilhin the annual report. Our opinion on the financial statements does not covèr ihe infom)ation and. except lo the èxtent otherwise expliutly slated in our ￿pOrt, we do not express any fom of assurance conclusion Ihereon. Our responsibility is to read the other infomalion and. rn doing so. consider whether the other information is materially inconsislent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such rnalei>al inconsi51encies OT apparent material mi55tatements. we are required lo deterrnine whèther this give5 nse to a material mt55tatement in the finanryal siatements themselves. If. based on the work we hav• performed, we condud• that Ihere Is a material misstatemènt ol this other information, we are required to report that fact. We have nothing to report in this regard.

OUR LADY OF SION SCHOOL, WORTHING INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE MEMBERS OF OUR LADY OF SION SCHOOL, WORTHING Opinions on other mattern prescribed by th• Companies A¢1 2006 In our opinitsn. based on thè work Undertaken in the course of our audil.. the information given in Ihe Irvstees. report for the finan¢ial year lor whith the financial siatement5 are prepared, which includes the dicectors. rtrptsrt prepared for the purposes ¢1 company law. is cons151ent with the financial statements.. and the directors, report induded within Ihe trustees. report has been prepared in accordance with applicab￿ I￿al requirernents. Matters on whlch wo ar• requir•d to report by exception In the light of Ihe knowledge and underslanding ol the charilable company and its environment obtained in the course ol the audit, we have not identified malerial misstalemenls in the directors. report included within the trustees, reporl. We have nolhing lo report in respect of the fo11th￿n9 matters in relabm to whi¢h the Companie5 Ad 2Cth requife$ us lo report lo you if. in our opinion.. adeqv*e a¢countlng records have not been kept. or retums adequate for our au¢Jrt have not been r￿1ved Irom branches not visited by us". or Ihe financial 5taternent5 are not in agreernenl with the a¢counting ￿CordS and relums., or cèrtain disclosure5 Qf trustee5' rèmuneration specified by law are not made", or we have not received all the informalion and explanations we require for our al￿11,. or the trustees were not entitled to prepare thè financial statèments in accordance wilh the small companies regirne and take advantage of the srnall companies. exemptions in preparing Ihe trustees. report and from the re9uirernenl lo prepare a Strategic report. Re$pon$ibilitie$ of trust••s As explained more fully in the statement of trustees. respon5ibilitie5. thè trusteès, who a￿ also thè directors ol the charitable company for the purpose of company law. are re5pon5ible lor Ihe preparation of the ffinancial statements and for bein9 satisfied that they give a true and farr vrew. and for Such intemal ¢¢mtrol a5 the iruslees determine is necessary lo enable the preparation of finanaal 51alement5 that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the InJst&es are responsibjo for assessing the charitable company's ability to continue as a going eoncern. disclosin9. as applicable, matters relaled to going concern and usin9 the 9ging concern basis of accouriling unless the trustees either intend to liquidate the chariiable company or to ¢ea$e operation5. or have no realisti¢ allemati￿ bul to do $0. 12

OUR LADY OF SION SCHOOL, WORTHING INDEPENDENT AUDITOR'S REPORT ICONTINUED) TO THE MEMBERS OF OUR LADY OF SION SCHOOL, WORTHING Atsdltorfs responsibilities lorthe audit of the financial statements Our otjectives are to obtain reasonable assufance about whether the financial siatements as a whole a￿ Iree from material misstaternent, Wheth￿ due to fraud or erior. and to Issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordanc wilh ISAS IUKI will always delecl a rnalenal misslalement when it exists. Miss¢alements can 3ri5e from Iraud or error and arè ¢onsidered rnaterial If. indiwdually or in the a99regate. they could reasonably be expeded to influence the econolnic deci&on5 01 users taken on the basi5 of these financial statemenls. Irtegularities, including traud, are inslances ol Don-c￿[dian￿ with laws and regulat#)ns. We design procedures in line with our rÈsponsilJ'lities. outlined above. lo delect matenal rni5Statements in respect of irregularities, including fFaud. The èxtènt lo which Ouf pro¢èdures are capable of deiedin9 irre9ularitiès, induding fraud. 15 dèi2iled below. the engagement partnei ensured thal Ihe engagement team collectively had Ihe appropriate competence. capabilities and skills to idenbfy or recogn¢se non-¢ompliance with applic8ble law5 and regulations., we identtfied the laws and wulatttsns applicable to the eompany through discussion5 wilh Ifustees and other management. and from our commercial knowled9e and expÈrienee ofthe education sector., we focused on specific laws and regulations which wa cons1L1e￿d may have a direct rnaterial effect on the rinancial slalemenls or Ihe operations of the charrtable company, induding Ihe Companies Act 2006, taxation Jegislation and data protection. anti-bribery. employn7enl. health and safety legislation., we assessed the exlenl of compliance with Ihe laws and regulations identified above Ihrovgh making ènquiries of management #nd inspecting legal ¢x)rre5pondenGe. and • identified laws and regulation5 were communicated within the audrt team ce9ularfy and the team remained alert lo instances ol non-compliance throughout the audit. We asse$5ed the susceptibility of the tharilable companY$ financial Statements tts material misstatement, including obtaining an understanding of how fraud might OCCLtr, by" making ènquifies ol management as lo where they considerèd there was susceptibility to fraud, their knowledge of actual, suspecled and alleged fraud", considenng the Intern￿ controls in place lo mrtigate risks of fraud and non-compliance with laws and regulations., and • understanding the design ol the tharitable company s remuner"on policiès. To address the risk of fraud through man39emenl knas and override of conlrols, we.. pertormed analytiral procedure5 10 identify any unusual or unexpected relationship5.' t&sted journal entries to identify unusual transactions. assessed whether ju¢Jgements and assumptions made in deterniining the accountsng estimates wè indicative of potential bias.. and inve5tlgated the ralsonale bethnd Signif￿an1 or unusual transactions. In response to the risk ol ifregulanbes and non-¢omplian¢e with laws and regulations. we designed procedures which induded, bJl w8re not limited to". agreeing financial slaternenl disdosures lo undertying sJJpporting docvrnentation., reading the minute5 of rneetings of the Board of Governors- enqusrin9 of mana9ement as io actual and potential brt)"gation and elaim5.' and reviewing correspondence wth HMRC, relèvant iegulators and the company's legal advisors. Thère are trnhefenl limitations in our audit procedures deS{￿be￿ above. The more removed Iha¢ laws and regulations are from finan￿1 transactions. the less likdy it is thal we would become aware ol non-cornpliance. Auditing standards also limrt the audit procedurès required to identity non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and ￿gaI correspondence, if any. MateAal misstatemènt5 thai arise due to fraud Can be harder lo detect than those that arise from error as they may involve dÈlibÈrale concealment OT c41Iu5i￿. A furlher (Jescfiplion of our responsibililies is ava￿able on Ihe Financial Reporting Council's website al.. https.'Il www.frc.OT9.uklauditorsresponsibilities. This description fomis pan of our audrtorfs fèpo 13-

OUR LADY OF SION SCHOOL, WORTHING INDEPENDENT AUDITOR'S REPORT (CONTINUEDI TO THE MEMBERS OF OUR LADY OF SION SCHOOL, WORTHING Us• of our r•port This report Is made solety to the charitable company's mernbers, as a body. in accordance with Chapter 3 tsf Part 16 of the Companies Act 2006. Our audit work has beèn undertakèn so that we might slate to the charilable Company's members those matters we are required lo state lo them in an audito¢s report and for no other purpose. To the rullest extent peimitted by law. we do not accepi or a$5Lrm8 resptsnsib￿ty lo anyone other than the charitable company and the charitsble company's members a$ a body. fof otjr audii work. for Ihis repori. or for the opinions we have lormed. Stephen Meredith BA FCA DChA IS•nior Statutory Auditor) for and on behalf ofAlliotts LLP 31 May 2023 Chartertd Aecountsnts Statutory Al￿{tor Friary Court 1&21 High Street Guildlord Suffey GU1 30L 14-

OUR LADY OF SION SCHOOL, WORTHING STATEMENT OF FINANCIAL ACTIVITIES INCLUOING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022 Current financial yèar Unrestricted Unrestrlcted Restrieted lunds funds funds genernl designated 2022 2022 Total Total 2022 2022 2021 Notes Incom• and •ndowm•nts from- Donations and legacies Incoming resources Irom ¢hantable activities Investments Olhef income 2.158 2,158 8.577 4,1S5.641 17.638 9,326 4.155.641 17.744 9.326 3.889.234 15,639 11,248 46 62 Total Income 4,184,761 62 4,184.869 3.924,698 enditur Raisin fund Advertising and publicity Investment maryagement on= 32.879 15.937 32,879 15,937 23,277 6.552 48,816 48.816 29,829 harita Teaching Wettare Prernises Support 2.375.865 36.703 734.922 839.927 2,375,865 36.703 734,922 839,927 2.356,876 27.414 S79.518 702,7S7 Total charitable expenditur• 3.987.417 3.987.417 3.666.565 Total resouree$ expended 4.036.233 4.036.233 3.696.394 Nel incomellexpendilurel before investrnenl 98inslllosse5} 148.528 62 148,636 228,304 Nel gainslllossesl on investments 12 (108.9541 {108,9541 158,583 N•t mov•m•nt in ft4nds 39.574 62 39,682 386,887 Fund balances at 1 September 2021 2,839,222 20,752 13.623 2,873,597 2.488,710 Fund balanees at 31 August 2022 2,878,796 20.798 13,685 2.913,279 2,873.597 The ststernent of financial activbtyes i￿lUdeS all gains and10$5es recognised in the ye¥r. Al income and expenditure derive from ¢onlinuing acb"¥ib'ss_ The statement of financial actI￿tieS also complies wth the requirements fw an income and expenditure a¢¢ount under thg Companies Acl 2006. 15-

OUR LADY OF SION SCHOOL, WORTHING STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022 Prior financial year Unrestricted Unrestricted Restricted fund5 funds funds 9èritral desognated 2021 2021 Totsl 2021 2021 Not•s Income and endowments Irom: Donations and legacies Incoming resources from char[ta￿e actmties Investments Other income 6.577 3.889.234 15.635 11.248 8,577 3,889,234 15,639 11,248 Total Income 3.924,694 3,924,698 Ex enditur• on: Raisin funds Advertlsing and publtcity Investmenl management 23,277 6.552 23,277 6,552 29.829 29,829 Charitab Teathing Welfare Prgmises Support ac 2.356.876 27,414 579,518 702.757 2,356.876 27.414 579,518 702.757 Total charitable •xpenditsr• 3,666.565 3.666,565 Total resources expended 3.6%.394 3.696,394 Net gainsll1055es) on investmen15 12 158.583 158,583 Net moV•n￿￿t in funds 386.883 386,887 Fund balance5 at 1 Sewembei 2020 2.452.339 20,750 13.621 2,486,710 Fund balan¢es at 31 Augllst 2021 2,839,222 20.752 13.623 2.873,597 The staternenl of financial athibes mdudes all gains and kjsses rec¢gnised in the year. All income and expenditure dèrivè from c(Jntinuin9 acliwlies. The slatemenl of fin•naal actiiAties also comFlies wilh the requirements for an incorne and expendilure accwnl under the Companies Act 2CK)6. 16-

OUR LADY OF SION SCHOOL, WORTHING BALANCE SHEET AS AT 31 AUGUST2022 2022 2021 Fixèd 4s$èts Tangible a53ets Inveslments 14 f S 9.595 1.487.160 1,022,431 1,592.023 2,456.755 2,614,454 CUr￿￿t assets Debtors Cash at bank and in hand 17 241,448 1.016,433 217.557 777.849 1,257.881 995,406 Creditors: amounts lalling dye wSthin one year 18 1724.407) {639,3151 Nel current assets 533,474 356.091 Total assèts l•s$ current liabiliti•# 2.990,229 2,970,545 Cr*ditors: arnounts falling due after mor• than onè y•ar 19 176.950 196,9481 Net assèts 2.913.279 2,873.597 Income funds Restricted lunds Uniesliicte(J funds- designated Unrestricted furtds- general 22 23 13,685 20,798 2.878.796 13.623 20,7S2 2,839,222 2.913.279 2.873,597 Th8 financial stalemenls We￿ appro¥ed by the Trustees on ..3010512023... Mrs K Henwood Trust•e Company registration number 06084975 17

OUR LADY OF SION SCHOOL, WORTHING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022 2022 2021 Notes Cjsh flows from opefating activities Cash generated from operations 27 311.585 624,033 Invèsting activities Purchase of tangible fixed asse15 Proceeds frorn disposal of tan9ible fixed assets Purchase of inveslrnenls Proceeds from disposal of investments Investmenl income received {92.8541 197,4201 6.200 {1.063.3641 1,059,273 17.744 1638.5491 725,792 15.639 Net cash (used inllgenerated from Inv•stlng aetivSties 173.0011 5.462 Net cash used in finan¢ing activities Net increase In ¢aBh and e•$h equivalents 238,584 629.495 Cash and cash equivalents al beginning of year 777,849 148,354 Cash and rash •quivalents at end of year 1.016,433 777.849 18-

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 2022 Accounting polici•$ Charity infomiation Our Lady of Sion School, Worthin9 is a chawitable company limited by 9uaranlee Tncofporated in England and Wales. The registered office is Gratwickè Road, Worthing. West Sussex, BN114BL. 1.1 Accounting con¥èntlon The financial Stslernenis have been prepare(l in a¢cordan¢e wilh the charital￿e company s Memorandum arKL Artides ol Assoeiatson, thè Cornpanies Act 2006, FRS 102 The Finanaal Reporting Standard applicablè in the UK and Republic of Ireland. fFRS 102.1 and Ihe Charities SORP"Accounting and Reporting by Charities.. Statement ol Recommended Praclice ap￿1¢able to charibes preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffecth've 1 January 20191. The chartiabie company is a Publi Benefit Entsty as deffined by FRS 102. The financial statements are prepared in sterfing. which is the functional currency of Ihe d)aritable company. Monetary amounts in Ihese finanual statèments are founded to the n•arest £. The financial statement5 have been prepared urbder Ihe historical cost cry)venlion. The prineipal aecountirrfJ polioes adopted are sel out below. 1.2 Going concern Al the lirne of approving the financial slalements. Ihe Iruslees have a reasonable expectation that the ¢haritable Company ha5 adequale resources lo caniinue irt operational existence lor the foresÈe?ble futtjrè. Thus thè trustees ¢onlinue to adopt the g￿n9 cgncem basis of accounting in preparing the financial staternent5. 1.3 Charitsble funds Unrestricted lunds are availaNe lor use at the discretron of the trustees in lurtherance of their charitable objectsves. Restricted funds are subject to reslncti￿S ￿ their exp&nditwe imposed by Ihe donor or through the tpmis of an appeal. General furTrd5 are unrestricted lunds which arg available for use at the discretion of the tru5te&s in fvrth¢rancè of the general objectives of Ihe chanty and vthich havè not been designated lor other Purposes. 1.4 Income Income from operating activilies In furtherance ol the charitable company's objectives is accounted lor on an accruals basis. Fees feceivablè and thargès for Se￿iCe5 and use of premises afe accounted foi in the period in which the service is provided. Fèes rèceivable are stated after deducting allowances, scholarships and other Temission5 granted by Ihe school. Fees received in advance of education lo be provided in future years under an Advance Fea Payménls Scheme contract are hekl x5 liabilities until either taken to income In Ihe term when used or else refunded. Donations receivable for the general purposes of the charitable company a￿ crediled to unrestricted fvjnds. Donathons for purposes restricteLJ by the wishes of the donoi ale taken lo restricted fvnds. Legacies are recognised on r￿elpl or otherwise if the charitable company has been notsfied ol an impending dislnbutitsn, the amount is known. and receipt is expectèd. If thè amounl is not known. the legacy is treated as a contingenl asset. 19-

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 Accounting policies IContinu¥dl Income from government grants is re¢ogni5ed at the fair value ol the asset received or rÈceivable when there is ￿aSOnable assurance that the grant condilions will bè met and the yrants will be feceived. A grant Ihal specifies performance condth.ons Is recognised in inccxme when the perfomance condition5 are mel. Where a 9ranl does not specify perftsmiancè condikn.ons it is recognised in income when the proceeds are received r)r receivable. A gianl receNed befoiÈ the re¢o9nition urteria are 5alisfied is recognised as a h'ability. Other operating income is accounted for on an accruals basis. 1.$ Expendlture Expenditure 15 recogni5￿ ￿ce there 15 a legal or constructive obligation lo transler economic benefrt to a third party. Il is wobable that a tran51er ol econom￿ benefits be required in seltlement, and the amounl ol Ihe obligation can be measured reliabty. Expenditure is dassffje(J by actiwity. The costs ol each a¢tiwty are made up of Ihe total of direct ¢o$ts and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single aclivity are allocated direcly to thal activty. Sha￿d costs which contribute to more Ihan one activity and support costs which are not attributable to a single activity are apportioned tse￿een those ac¢(vities on a basis consi5tenl with the use ol resources. Central staff cost5 are alloca￿d on the basis of tirne spènt, and deprecialion charges are allocated on the portion of the a55èt's use. Expenditure is accounled for on an acGruals basis. Overhèad ond other ¢osls not directty attributable lo particular fvnclional actiwty catego¥ies a¥e apportioned over the relevant catègoriès on the basis of management eslirnales of Ihe amount attributable to that activity in Ihe year. either by reference lo staff tiffle or Space o¢¢vpièd, as appropfiate_ The irrecoverable element of VAT is included wilh the item of expense lo which it relaies. Govemance costs comprise the oist5 of running the charilable company, irndudin9 Strategic Flanning for ils luture development. a150 external audit. any legal adV￿e for Ihe scho(Il, and all the costs of Com￿Y1ng wilh constitutional and statutory requirements. such as the costs of Boaid and Commillee rneetings and of preparing statutory accounts and satssfying public a(￿Untability. 1.6 Tangible fixed as$ets Tangible fixe(l assets are initi￿ty measured at cost 5ubsequentty measured at cost or valuation. nel ol deprecialion and any impairmenl losses. Depreciation 15 re¢ognistd $0 as to wriie off thè cosi or valuation of assels less their residual values over their uselul lives on the foY¢)wing base5'. Leasehold improvements P13nl and eqvipmenl Ctsmputer equipment Motor vehi¢le5 5% per annum straighl-Iin¢ 25gA per annum slraighl4ine 33.33VA per annum straight-line 25% per annurn ￿ducIng balance The gain or loss arising on the ¢JisF05al of an asset Is detemfftd as thè difference be￿eefi the sale proceeds nd the carrying value of the asset, and is recisnised in the slatemenl ol fmiancial acbwlies. 1.7 Fixed asset inv•strnents Fixed asset inveslments are initially rneasured * transaction price excluding transaction cosls. and are subsequenuy measured at fair value at each reporting date. Changes fair value are re¢ognised in net in¢omellexpenditure} Iof Ihe year. Tran5ath"on costs arè expensed as incurred. -20-

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Accountlng poIi¢iès (Continuedl 1.8 Impaimlent oi fixed assets At each reporling end date, tre charitable company reviews the carying amounls of its tangible assels to detemine whether there is any indicabon that those as5et5 have suffered an impabm)enl 1055. If any such indication exists, the recoverablè amount ol the assei ts eStiMa￿d m ordèr to dètèminè thg exlenl of the impairment loss lif any}. 1.9 Cash and cash equivalènts Cash and cash equivalent5 iMJude cash in harml. deposits held at ¢aU with bank5, Other short-lem liquid investments wlh original maturilies of Ihree months or less, and bank oveidrafts. Bank overdrafts are shown within bofrowin9s in CUTrert Iiabilibes. 1.10 Flnanclal instruments The charitaNè company has elèctÈd to apply th• prowsions of Seclion 11 'Basic Finanaal Instruments, and Seclion 12 '01her Financial Inslrumfrnts Issues. of FRS 102 lo ￿7 ol its finanoal instruments. Financial Inslmments are recognised in the ehantable companys balance sheet when the charitable company becomes party to the conyadual provisions of the instrument. Financial assets and liabdities are offset. wrth the net amovnts presented in the financial slalemen15. when there is a legally enforGeable nghl to set off the recognised amounts and there is an intention to settle on a net basis or to realise itte assel and 5etUe thg liab￿lty siM￿lanÈOusIy. Bas1¢ financial ass•ts Basie financial assets. which indudt debtors and cash and bank balances. are initialty measured at transadion pri¢e incluthng transactbon costs and are subsequently camed at amort15ed cost using the effeclive interest method unless the arrangement conslitules a financing Iransaclion. where Ihe transaction is measured al the presenl value ol the fulure receipls discounled at a market rate of interest. Finaneial assets ¢lassifie(l as receivable ￿tkn.n one year are ntsi affl0￿$ed. 8asi¢ financial liabilities Basic financial liat)ilith'ès, iftduding c￿lIOTS and bank loans are inilialty recogni5ed at tr8n53ction pricè unlèss the arrangemenl conslilules a finanang transaction. where the debt inslrurnenl is measured at the presènt value of the fulurè payments discountetl at a mathet rate of inte￿51. FinancAal liabdits.es dassified as payable wilhin one year are not amortised. Debt instruments are subsequenly carr￿1 at amortised eosl. using the effectivè intèrest ratè m•lhod. Trade creditors are obliga*'ons to pay for 9oods or services Ihal have been acquired in the ordinary course of opèrats.ons frtsm suppliers. Amounts payable arè classifiad as cuffent liabilitses il payment Is due within one year or less. 11 nol. they are presenled as noTrcurreni liabilibes. Trade ueditors are recognised inibally at transaction price and 5ubsequenlty measured at amortised cost using Ihe effecli¥e interest method. O•recognltioft of Ilnanelal Ilablllties Financial liabilities are derecognised when thè charitabjè companys contfactual obligations èxpire or are discharged or eancelled. 1.11 Employeo benefits The cost of any vnused holKlay enirtlèment is recognised in the perbod in which thè employee's services are received. Temination benefits are reco9nised imrnediately as an expens8 when the charitable company is demonstra￿Y committed to temiinate Ihe empkjyment ol an empknee or to provide temiinaibon benefits. 21

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Accounting pollcie$ Icentinuedl 1.12 Retiremènt beneflts The school participates in h¥0 rnuJb".emloyer pension schernes. The Aviva IAPTISI Defined Benefits Scheme 1$ used for Ils teaching staff and the Pensions Trust Defined 8eneffit scheme for supporl slaff, after leaving tha Teachers Pension Scherne in September 2020. The contributions by ihe school are determined by the Scheme Acluary and advised lo the school by the Scheme Administrators. As the schemes are murti-ernployer schemes and Ihe school cannol Idenlfy its share of the assets and Iiabth'ties. in accordanc& with FRS 102. the schemes a￿ accovnted for as defined contribvtion scheme5. ritreal accounting e¥timate¥ •nd judgements In ihè appli¢ation of thè charrtable company's accounting policies. the trustees are required to make judgèments. estimates and assumptions about the carying amount of assets aTrrl Iiabililies that are not readily appafent from other sources. The estimates and associated assumptions are based on historical experience and other laetors that are considered to be relevant. Actual results may drffer from these estimates. The èstim8lès aThJ Under￿'n9 assumpb.ons are rethewed on an on90ing basis. Revisions lo accounting eslimjles ale recognised in the period in which the eslimaie is rewsed where the revision affects only Ihal period, or in the period of the revision and fvtur¢ periods where the iew510n aff￿ts both Current and ILSture periods. Donations and le9•cies Unve$tricted Unre5trided funds fund5 genèral general 2022 2021 Donations and grts Coronavirus Job Retention Scheme 2.158 2.171 6,406 2.158 8,577 22-

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGusf 2022 Incoming resources Irom haritsble activtties Sehool l••$ R•glstAtion Addititsr edut•tior ¢harges 2022 Tt4tal 2422 2022 2022 2021 Incoming rèsources from ehariiablè actithties 4,089,685 62,576 4.155,641 3.889,234 For the year ended 31 August 2021 3.843.012 41.172 3.889.234 2022 2021 The schod fees income C￿pn$eS'. Gross schod fees Lèss.. bursaries Less.. Srxth Form fee ￿￿Ission Less." prompt paymenl 4,769,857 1526,932} 1153.2401 4,755.442 1450.079 (461.6961 16551 4.089.685 3,843,012 In¥￿tments Unfestricted Unrestricted Restricted lunds funds t￿Thd$ genèral dèsignated 2022 2022 Total 2022 2021 Income from listed investments Interest ￿ceivable 17.528 15.564 75 46 17.636 46 62 15,639 For the yèar •nd¢d 31 August 2021 15,635 15,639 -23-

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Other income Unrestrlcted Unrestricted fvnds funds g•neral gen¢ral Z022 2021 Nel gain on disposal of langible fixed a$5ets Other income 9.266 11.248 9,326 11,248 Rai$sng funds Unrestriettd Unrestricted funds fund5 general general 2022 2021 Advertising and put4iuty Advwlising and Publicily 32.879 23.277 Investment mana em nt 15,937 6,552 48.816 29.829 Charitable activitle T•a¢hing Wellave Premise5 Support Totsl 2022 Total 2021 2022 2022 2022 2022 Staff costs Deprèciation and impaimient Other costs 1.980.634 57.804 621.792 2.660,230 2,708,807 17,117 378,114 122.433 554.685 139,550 1,166.018 131,713 807,855 36,703 196.516 2,375,865 36,703 734.922 818.308 3,965.798 3,648,375 Share o19o¥eman¢e costs {see noie 9} 21.619 21,619 18,190 2,375,865 36,703 734.922 839.927 3.987,417 3.666,565 24-

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Charitable actl¥iti•s Icontinuedl For the year endèd 31 August 2021 Te4chin9 Welfare Prnmises Support Total 2021 Staff cost5 D*preciaiion and impairmenl other ¢ost5 2.093.805 20.912 242,159 56.492 110.801 412,225 558.510 2.708.807 131.713 807,855 27,414 126,057 2.356.676 27.414 579.518 684.567 3,646.375 Share of governance costs Isee note 9) 18.190 18,1 2.356.876 27.414 579.518 702,757 3.666,58S Analy$rs by lund Unfe5tri¢ted lunds - general 2,356.876 27.414 579.518 702.757 3,666,565 Support costs Support Govemance ¢osts 2022 2021 Staff costs 6,212 6.212 5,J49 Audit lees Sundry 14.490 917 14.490 917 12.720 121 21.619 21.619 18,190 Analysed befv4een Chariiable ac11￿(10S 21.619 21.819 1e,190 10 Trusts•s Two governors re￿$￿ed reimtiursed training and travel èxpènsès of £330 in Ihè year (2021." four govèmors received r•mbursèd training and travel expenses of £1301. 25-

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2022 11 Employees The av¢rage monthly nurnber of employees durin9 the yèar was. 2022 Ilumber 2021 Number Teaching. Support 46 47 34 Total 80 81 Employment costs 2022 2021 Wage5 and salaries Social security ¢05t5 Other pension cos13 2.165.302 202,153 298,987 2.201,035 198,942 314.179 2,666.442 2,714,156 Includ￿ in the above are twmination payments which were m* durTrng Ihe year to two fonner einployees of £50.82212021. £23.597). The number ol employees whose annual remuneraiion wa5 morè than £60,L is as follow5". 2022 Number 2021 NuM￿r £60.000- £69.999 £70.000- £79,999 £80,000- £89,999 In conneclion wilh Ihe hi9her pasd ernployees. retirerTTent benefils are accruing under a mulli-ernployor delined benefit scherne for the 3 employees 12021.. 3). The total employer conlnbutior15 ITI the year to the scherne were £37,09212021". £35.02n.

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 AUGusf 2022 12 Nel gainslllossv41 on inv•slm•nts Unrestricted Unrestricted fvnds lund5 general general 2022 2021 Revaluation of investrnenls Gal￿<10$5) on Sa￿ ol investments {102.2661 16.6681 138,220 20,363 (108,9541 158.583 13 Taxatio The company is a regisiered charrty and Iherefore no liabibty to taxatiw arises on Ils charitable acbvities. 14 Tangible frxeil assets Leas4bokl Plani ar •qUiKffie ornpuWtMoioT ￿h1¢ •q¥lpm• Tot•1 Cost At 1 Sèptember 2021 Ad¢itions Disposals 1.529.044 11.926 415.383 53.933 355.685 26.998 106,986 2,407,098 92,8S5 148,3001 (48.3001 A131 August 2022 1.540.970 469.316 382.687 58.686 2,451.653 Depreciation and Impaimwnt Al 1 September 2021 Oepreciats'on charged in the year Eliminated in respect of db3P05als 624.716 76.043 329.086 43.047 337.251 17.117 93.615 3.343 {42.1601 1,384,668 139.550 142.1601 Al 31 Augilst 2022 700.759 372.133 354.368 54.798 1.482.058 Carying amount Al 31 August 2022 840.211 97.183 28.313 3.888 969.59S Al 31 August 2021 .328 86.298 18,434 13.371 1.022,431 -27-

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGusf 2022 15 Fixed ass•t inv•stments Listèd investrnents Cash I portfollo Total Cost or valuation Al 1 September 2021 Addib"ons Valuation changes Disposals 1,551.191 1,IE3,364 1112.0021 {1,065,9611 40,832 1.592,023 1,063,3fj4 1102.266) 11,065.9611 9.736 At 31 August 2022 1,436,592 1,487,160 Carrylng amount At 31 Augu512022 1,436,592 1.487,160 At 31 August 2021 1.551.191 40.832 1.592.023 16 Flnan¢lal instruments 2022 2021 Carrylng amount of financial assets Instruments measured al lair value IhroLf9h profil or loss 1,436.592 1.551,191 17 Debtors 2fj22 2021 Amounts falling due within one year. Tradè debtors Other debtors Prepayments and accnjed income 178.404 11,254 51.790 166.132 5.045 46,380 241.448 217.557 18 Creditorn.. amounts tslling due withln one year 2022 2021 Note5 Other taxation and social $8curity Deferred in¢ome Payments received on accounl Trade crediliKS Other creditors Acuuals and deferred income 47,373 507,367 250 46.192 5S,911 67.314 51,300 409.934 3,500 65,743 62,253 46,585 20 724,407 639,315 -28-

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 19 Cr•ditors: amounts faning due after more than one year 2022 2021 Payments rtcèived on ¥CeOUAI 76. 96.948 20 Def•rr•d income 2022 2021 Arisin9 from lees rec*ved in advance 507,367 409,934 Oeferred inwne at 1 September 2021 Rele4sed from previous years Resources deferred in the yeaf 4Q9.934 402,265 1409.934} 1402,2651 507,367 409,934 Deferred income at 31 August 2022 507.367 409.934 21 Retirement b•nefit seh•mes Deftn•d eontribution s¢hern The tharitable company operates a defined conlributbon pension Scheme fw all qualifyin9 ernployee5. Thè assets ol the scheme a￿ held sèparately from ihose ol the charitable company in an Indepen(Jently adrnirnstered lund. The ¢harge lo the SOFA in respe¢t ol pÈnsion5 schemès twted as defineil contribution schemes was £298,987 P021- £314,179}. The arnount 0￿$tanding al the yèaw ènd and induded ￿1￿ crethtors is £33.52612021." £35,115) -29-

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 22 R•strict•d funds The incorne funds of the charrty indude re5tricied fund5 comprising the folowing unexpended balatKes ol donaiions and 9rants hel¢J on trust for specific purposes.. Movèment in funds Ineomlmg QUVU5 1 September 2021 Movèment in fvnds I￿ornIng resovrcos Balancè at I September 2020 8alancg at 31 AugLlSt 2022 Sister Maura appeal fund Mr R Hale 4,412 9.209 4.413 9.210 20 42 4,433 9,252 13.621 13,623 62 13,685 The Sister Maura appeal fund was sel up io Pfovide grants lor spècific pupil xtimties,. for eXarn￿e. during 2008 a pupil was lunded when they ¥isiied and helpet1 within an orphanage in Cambodia. The Mr R Hale fund wll be used lor a similar purpose as the original funds were lo be as an addilitsnal source of income lor 9rants to assist pupiLs. 23 Unrestrl¢ted funds- designated The income funds of the charity indudÈ following desig)ated funds whith have been sel astde out ol unrestricled funds by the trustees for pu￿0$￿S.. Movernent in fund¥ Movèmènt in funds Incomlng Balan¢9 at 1 Sept•mber r•Joiirte$ 1 S•￿*Mb•r 2020 2021 Balancg al JI AugUSt 2022 Governors. ftjnd Mainteftance lund 200 20,550 21XI 20.552 200 20,598 46 20.750 20.752 46 20,798

OUR LADY OF SION SCHOOL. WORTHING NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 24 Analysis of n•t assels tsets¥•￿ funds Gènernl Dèsignatèd R*8trieted unr•stricted 2022 Total 2022 2022 2022 Fund balances at 31 August 2022 are presentèd by.. Tangible asse15 Investments Current aS5è1sllliabilitses) Long tem lialm'lilies 969.595 1.487.160 498.991 176.950} 969.595 1,487.160 533,474 176,9501 20.798 13.685 2,878.796 20.798 13.685 2.913.279 Genernl Designated R•stri¢trd nrestricted 2021 Total 2021 2021 2021 Fund balances •t 31 August 2020 are rèpr襕ntsd by: Tangible assels Investments Current a55eisluiabilitiesl Long term Ila￿.111$eS 1,022.431 1.592.023 321,716 196.948) 1,022,431 1,592,023 356.091 196,9481 20.752 13.623 2.839.222 20.752 13.623 2.873.597 31

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 25 Op•ratlng lease ¢ommitmBnts At the reporting end date the ¢haritable company had outstanding commitment5 for future minrfnum lease payments under nOn￿nce￿able operaling leases, which lall due as lolltr*$." 2022 2021 Wthin one year 8etween h¥0 and five year5 80,034 15,926 155,611 56,352 95,960 211,963 The School kases its propety from The cong￿gatIon of Sisters of Our Lady of Sion, "The Orderf.. on a long tefm lease. A rent review is undertaken every 5 years with the most recent one in 2018. The lease commitment above represents the lotsl payments due to The Order until the next rent revièw. Arnounts r￿OgnIsed in SOFA as an expense during the period in ￿SPect of operats'ng lease arrangemenis are £112,80312021: £65.3071. 26 Related party transactions Remuneration of key managemènt peysonnel The remuneration of key rnanagement personnel. who are tkfined as key membeTS of the senior leadership team with significant influence. is a5 fdl¢>ws. 2022 2021 Aggregate compensatron 346,571 338,168 27 Cash generaled from 0￿ra110Th 2022 2021 Surplus for the year 39,682 386,887 Adjustments for". Investment income recognised in statement of financial ath.whes Gain on disposal of tangible fixed asset5 Lossllgainl on dispos4 of investmenls Fair value gains and losses on investments Deprecialion and impairmenl of iangible fixed assets (17,7441 1601 6,688 102,266 139,550 115,639} 120,3631 {138,2201 131.713 Movements in working capilal.. Ilncrease)/decrea$e in debtofs IDecreasel in creditors Increase in deferred ineome 123,8911 132.3391 97,433 100,231 163,0241 242,448 Cash generated from oporntions 311,585 624,033

OUR LADY OF SION SCHOOL, WORTHING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 28 Analysis of chang•s in nèt funds The eharilable company had no debt during the year.