2021-08-31-accounts

The Sheiling Special Education Trust Financial Statements Year Ended 31 August 2021

Reference & Administrative Details

Registered company number :

08116370 (England and Wales) 1149264

Registered charity number :

Principle address and Registered Office:

The Shelling Special Education Trust Horton Road Ashley, Ringwood Hampshire BH24 2EB

Trustees

Mr J Freeman Mrs Alice Copp Mrs J Dampney Mr N Johnson Mr D Keeton Mrs J Kenward Mr J Morris (Chair) Mrs M Rigg Mr J Pyzer

Auditors

Ward Goodman Registered Auditor 4 Cedar Park, Cobham Road Ferndown Industrial Estate Wimborne, Dorset BH21 7SF

Solicitors

Wilsons Alexandra House St John’s Street Salisbury SP1 2SB

Senior Management Team

Corine van Barneveld, Principal Andy Walters, Head of School Mike Gamble, Head of College Katy Kerr, Head of Finance & Premises Susan Harvey, Head of Residential Services Katie Francis, Head of Health & Therapies

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31/08/21 Report of the Trustees (year ended )

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

The former Trust, the Sheiling School was established in 1951. The current charity, The Sheiling Special Education Trust, commenced its activities on 1 September 2012 when provision was widened to include further education at the Sheiling College.

The legal and administrative information set out on page 2 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Charities Statement of Recommended Practice (FRS102).

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities and are satisfied that The Sheiling Special Education Trust's activities provide public benefit.

OBJECTIVES AND ACTIVITIES

Objectives

The Sheiling Special Education Trust is an Independent Special School, which is registered as a Children’s Home and an Independent Specialist College. It also provides a supported living service. It specialises in severe and moderate learning difficulties, autistic spectrum conditions and communication difficulties. Its objectives are as follows:

• To provide a learning, caring environment where the educational, physical, social, emotional and spiritual needs of the individual student and resident are valued and met.

• To promote a nurturing culture where each student and resident receives the support, guidance and care relevant to their individual needs.

• To promote positive approaches to behaviour and individual sensory and therapeutic needs.

• To support students and residents to develop functional skills and independence which can then be transferred to the wider community.

• To offer students and residents a foundation for developing their confidence and their sense of belonging and achievement.

• To offer clear rhythms and routines to promote a healthy lifestyle which includes good eating and sleeping habits and an active physical and social lifestyle.

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Activities

Education Provision

An individual approach to education and residential provision is offered to both School and College students including:

• Day placements – students attend from 9am to 4pm (4.30pm for college students) and are attached to residential houses for lunches and other activities.

• Weekly boarders – students attend from Monday morning to Friday afternoon.

• Termly boarders – students attend for the full 38 week term, including weekends.

• Yearly boarders (school only) – students are able to access a 52 week year round residential provision including holidays. This provision ended on 31 August 2021.

• Respite provision (college only) – respite packages are available to college students during midweek, weekends and during holidays. This provision ended on 31 August 2021, however College offers up to 4 weeks respite through the year.

Education provided ensures the national curriculum is followed and allows for a broad and balanced program which includes English, Maths, Science, ICT, Personal, Health, Social Education and Citizenship (PHSE&C), Art and PE. Horticulture, craft workshops including estate work, garden work, weaving and candle making are all offered ensuring the curriculum extends beyond lessons into life within the houses, enabling learning in school and college to be supported outside of the classroom.

The 50 acre site with grassy open areas and woodland mean that learning outside the classroom is an integral part of the curriculum and it also benefits from an on-site swimming pool, gym and 193 capacity hall with stage. Neighbouring the site is Moors Valley Country Park making it great for walking and cycling. Ringwood is a short walk away and the beaches of Bournemouth, Boscombe, Southbourne and Mudeford are all within easy reach. This helps ensure students benefit from many different on-site and off-site activities and outings.

The school offers the nationally recognised ASDAN qualifications and the college offers the OCR Life & Living Skills Accredited learning course.

Targeted therapeutic intervention is highly effective and promoted throughout the school and college with an extensive range of therapies including speech and language therapy, occupational therapy, physiotherapy, music therapy, massage therapy, art therapy, curative eurythmy and colour light therapy.

The residential students live on site in large, family-style houses of which there are 4 for the school age students and 2 for college students. The houses act as extended family groups with each house sharing meals, including a freshly cooked midday meal. Everyone is expected to contribute to the running of the house, for example the setting of tables, taking out the compost and helping with the washing up. Each house functions as an autonomous group under the supervision of a dedicated House Manager. Each student is accommodated in a single room and allocated to a house according to their need, with a mix of gender and ages, carefully taking into account all issues regarding safeguarding. The Managers of the different houses work together regularly to assure outcomes for all students.

Where appropriate students have an opportunity for work experience placements in the local community with local businesses and organisations along with supported attendance for specific courses in local colleges.

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Public Benefit

The Sheiling Special Education Trust strives to attain the highest standards regarding the aims and objectives, with a view to providing for the charity's beneficiaries.

These aims are:

• To maximise opportunities in school, college, supported living and beyond to support our students and residents in gaining knowledge, acquiring skills, and developing their personal qualities and confidence.

• To provide a safe, inclusive, and uplifting environment which meets the needs of the whole person.

• To maximise an inclusive environment to enable each student and resident to discover and realise their full potential.

• To promote communication and social skills which support making of relevant choices.

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Achievement and performance

Section 172(1) statement

Section 172 of the Companies Act 2006 requires the directors to act in the way they consider, in good faith, would be most likely to promote the success of the charity to achieve its charitable purposes. The Act states that in doing so, the directors should have regard, amongst other matters, to:

The likely consequence of any decision in the long term: We make all key decision in the context of our medium term strategic plans and budgets, including our capital programmes. This strategy is focussed on improving outcomes for our students and is regularly reviewed.

The interests of the company’s employees: Our employees are central to our capacity to deliver high quality learning and care to our students and their welfare is a key organisational priority. We invest in high levels of training and support including a 9 day induction programme and access to a range of well-being services (counselling, yoga sessions, etc).

The need to foster the company’s business relationships with suppliers, customers, and others: Our relationships with partners and suppliers are key to our effectiveness. We have long term relationships with small local businesses and foster positive relationships with our provider Local Authorities.

The impact of the company’s operations on the community and the environment: We recognise our responsibility to care for the environment and aim to minimise our environmental impact in all our activities. We actively manage our 40 acre site and maintain areas of habitat to support wildlife and have recently been awarded a bronze award by the Hedgehog Preservation Society. We encourage all staff and students to participate in initiatives to reduce environmental impacts including for example the promotion of recycling of waste and actions to maximise efficiency in energy consumption.

The desirability of the company maintaining a reputation for high standards of business conduct: Our reputation is fundamental to our future success. Our core values inform our recruitment initiatives and training for our employees to ensure that we maintain high standards.

The need to act fairly as between members of the company: We continue to work towards a transparent culture providing staff with regular updates through face to face briefings, newsletters and direct communications from the Principal. We aim to be a fully inclusive organisation and we will not unfairly discriminate against our students, staff or any other member of our community

Key achievements and notable performance during the period included the following:

School

• School numbers have remained stable, in terms of pupils on roll, with numbers in the range 3033 students

• Academic progress across the school remains positive in 2020-21 and almost without exception, students continue to meet and exceed challenging targets for their achievements across a range of curriculum subjects.

• In academic year 2020-21, the Sheiling obtained a 100% pass rate with all graduating students leaving the school with accreditation at Entry 1 and 2.

• Updating and development the curriculum throughout the school has taken place this year to ensure it meets the needs of the widening range of abilities including those with complex sensory needs.

• Better recognition and achievement of attainment for school students through more accurate assessment, target setting, planning and ongoing monitoring has been implemented.

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College

• Expansion of College residential to include a third residential house ‘Sheiling House’ with the highest number of learners planned, 39.

• All leavers reached suitable destinations in terms of living and daytime activities from volunteer work to structured recreational activities

• Each learners Co-created study programme forms their bespoke curriculum, this degree of person centred focus is enabling some great outcomes for our learners

• Community integration work has restarted with considerable success, work placements are beginning to be set up again and many community based activities both as before Covid-19 and new are being enjoyed

• The college has enhanced its reputation across the sector being a key contributor to Natspec events, including 2 shortlisted nominations for Natspec Awards in the categories of Curriculum innovation - The Resilience Curriculum and Assessment Tool, and Home Learning – A Self Audit Tool

Other

• Strong behaviour team, linking in with Speech and Language Therapy and Occupational Therapy, providing excellent support to staff ensuring that behaviours which challenge are minimised. Therapists are now allocated to School and College to improve integration in education programmes.

• Opportunities are available for staff to develop their skills through liaison with other schools to share good practice and along with increased opportunities for staff training, both on and off site.

• Safeguarding is central to everything done as an organisation. All Trustees, staff and vocational workers continue to be trained in safeguarding and abuse prevention, recognition and reporting. This is backed up by a close relationship with the local children and adult safeguarding team.

• HR department continues to strengthen employment protocols and processes to ensure robust systems for Safer Recruitment of staff.

• A new HR system was introduced in 2020. The system will be used to strengthen controls and improve reporting surrounding the Single Central Record and bring about further efficiencies.

• Further development of the Staff Recruitment and Retention Strategy has been undertaken focussing on terms and conditions, working patterns, benefits and recruitment advertising.

• The fee model has continued to be developed to help ensure a robust system for determining fees linked to costs incurred.

• Robust induction and training programmes have been strengthened for all new and existing staff throughout the year.

• Compulsory Inset days continued to be developed and well attended. This is part of an ongoing development in staff via extensive training both in-house and via external trainers.

• Regular committee and working group meetings take place for Safeguarding, Finance, Equality, Diversity & Inclusion and H&S.

• Regular review and updating of policies by the Senior Management Team, including Trustee involvement, continue to help ensure policies and procedures remain robust.

Quality Assurance

• A school Ofsted inspection took place in November 2017 and was graded ‘Good’. This was supported up by a follow-up one day visit in May 2018 which was also graded as ‘Good’.

• A college Ofsted inspection took place in February 2018 and was graded ‘good’.

• A Care Quality Commission (CQC) inspection occurred in March 2019 regarding the college residential provision and was graded ‘Good’.

• Ofsted Care inspection (regarding school residential provision) took place in July 2019 and was

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graded ‘Requires Improvement’. Action has been taken to rectify this position. A one day follow up visit in February 2020 recognised positive change and improvements as did an assurance visit which was undertaken in November 2020.

Capital Development

Various projects were undertaken during the period to both maintain and develop the site for school and college provision. Larger projects and site development are being driven by the 5 year Property Strategy (2020 – 2023) document previously approved by the Board. Fundraising is carried out for the benefit of capital projects with funds being requested from external trusts, charities and companies. Although works had to pause during the COVID-19 lockdown. Significant projects included the following:

• Albion Building Refurbishment incl. Windows £37k

• Sheiling House Windows £12k.

• Outdoor Play Equipment £21.5k

• Martin & Feirefis Refurbishment £33k

• Site wide external lighting installed £16K

• Various bedrooms and communal rooms redecorated in all houses.

• Capital spend in the year (including the above) totalled £135K

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Financial position & review

The financial performance for the year is summarised below:

	2021	2021	2020	2020
	Total - £’000	Excluding capital grants £’000	Total - £’000	Excluding capital grants £’000
Total Income	8,641	8,577	8,183	8,151
Total Expenditure	7,218	7,218	6,737	6,737
Net Income	(1,423)	(1,359)	(1,446)	(1,414)

Income has increased by £458K in total compared with the previous year (6% increase). The increase was due to a change in the mix of our students packages as some students moved onto their next placements, and increase in respite offered covering the COVID-19 lockdown. Overall student numbers remained the same compared to last year. The slight increase in capital grants and donations is due to fundraising for a Sensory Garden which has had to be put on hold due to COVID restrictions.

The main source of income are student fees received from Local Authorities with an element received directly from the Education Skills Funding Agency (ESFA) for College students - these fees equated to 100% (2019: 99%) of total income excluding capital funding. Overall student numbers increased slightly on prior year to 70 (2020: 68) with school numbers increasing from 31 to 32, college numbers also increased from 37 to 38 (3% increase).

The largest expenditure heading continues to be staffing £6M (2020: £5.63M) which equates to 85% of expenditure (2020: 82%). In relation to income, staff costs represent 70% (2020: 69%) of total income excluding capital grants and donations.

Tangible fixed asset additions in the year totalled £174K which related largely to the refurbishment of building facilities across the site. The net book value of fixed assets increased slightly from £6.52M to £6.54M at the end of the accounting period.

The 'Cash at bank and in hand' figure increased during the year, largely as a result of decreased spending due to Covid restrictions. Consequently the balance increased from £2.92M at the start of the year to £3.77M as at 31st August 2021. Similarly, the net current assets also increased from £2.77M to £4.16M over the same period.

A £116K loan was received in December 2016 to finance work carried out to the Maple classroom in 2015/16. This is a 10 year variable repayment loan. The balance at the year-end is £56K.

Total reserves have increased from £9.2M to £10.6M during the year with £408K (2020: £367K) being restricted in relation to ESFA and other capital monies received for capital projects.

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Risks & Uncertainties

A risk register is maintained to identify risks, assess their likelihood of occurring and quantify the potential impact. Outlined below is a description of the key principal risk factors which may affect the Charity. Other factors besides funding sources may also adversely affect the Charity and are detailed within the risk register itself.

Principal funding sources

The Charity is, in effect, solely reliant on continued government funding, whether this comes directly to us from the Education and Skills Funding Agency (ESFA) or via individual Local Authorities. In 2019/20 99% (2018/19 99%) of revenue was ultimately publicly funded. There can be no assurance that central government and Local Authority policy and practice, will continue at the same levels or on the same terms. Whilst the current government continue their plans to address the issue of public sector debt this will have a significant impact on available funding within the sector and how the limited funding is distributed to providers.

The risk is mitigated in a number of ways including:

• Ensuring we deliver high quality care and education in order to remain a preferred provider for Local Authorities whilst providing 'value for money' to students and Local Authorities.

• Focus and investment placed on maintaining and managing key relationships with various funding bodies and local authorities.

• Regular dialogue with ESFA, Local Authorities, NASS, NATSPEC and other networking partnerships.

• Tight control over staff and non-pay costs.

• Regular review of our fee structure to ensure our fees remain competitive whilst allowing us to provide the necessary high quality care and education.

• Inclusion, where appropriate, on the various Local Authority Provider Frameworks.

COVID-19

The impact of the pandemic has continued to be felt throughout the year, despite which we have remained fully open. The medium term impact of COVID-19 on Local Authority funding has yet to be understood but is a risk we continue to monitor along with the impact of related legislation, for example on compelling staff in CQC registered care homes to be fully vaccinated.

Reserves policy

The Trustees monitor and review the level of reserves held by the charity in line with the guidance set out by the Charity Commission and this also forms the basis of our own Reserves Policy document which is reviewed annually. The Trustees consider that the aim should be to build up the free reserves of the charity, represented by working capital, to equate between two to four months' expenditure. This has been built into the 3 year financial plan which will be achieved via control of our future surplus and capital investment decisions. During the course of the past two financial years we have built up sufficient reserves to enable us to consider development of the site to align with our new strategic plans. This means that whilst the reserves levels currently sit above our suggested policy levels we intend to consider how we allocate the funds to major projects during the upcoming financial year.

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Future plans

• Student placements for School (30) and College (38) are as expected going into 2021/2022 with further placements expected to be offered later in the year.

• The Sheiling Special Education Trust decided in July 2020 to cease its registration as a Childrens Home from September 2021 and to re-register as a Residential Special School offering 38 (rather than 52) week residential placements.

• Close liaison and working with LA commissioners to ensure placements for students whose needs can be best met by an environment such as The Sheiling.

• Close liaison with funding bodies and LA's to ensure we can plan and react to national or local changes in funding, policies or procedures.

• Continue to ensure close working between all departments of the SSET.

• Continue to improve links with other schools and colleges to work collaboratively with regard to behaviour and data collection.

• Continue to improve close links with those who can provide work experience and work placements within the local area.

• Continue to strengthen the ethos of the Sheiling via staff training sessions. Continued tight financial control over staff and non-pay costs to ensure spending is kept within budgets.

• To keep under review the Terms and Conditions of staff including review of pay scales, pension review as well as holiday entitlements.

• Continue to find ways to recruit adequate support staff via recruitment strategy and thus minimising the use of agency staff.

• Continue to appoint new Trustees, with relevant experience, to support all areas of education, care and administration.

• Continue to develop and improve our estate including site security.

• Continue to implement the Property Strategy.

• National and local marketing drive to improve awareness of The Sheiling Special Education Trust.

Overview

• Overall student numbers remained the stable under the new registration with additional new students joining in January 2022.

• A surplus for the year totalling £1.4M has been reported largely due to a decreased spending on and lesser need for agency in the year.

• The focus of Trustees continues to be the development of care and education provided through monitoring, planning and challenge to help maintain and drive improvements across all areas of provision.

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STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The company was established on 22 June 2012 under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association.

Decision making

The Board of Trustees meets at least 4 times a year. Regular meetings are held and minutes taken with Trustees chairing committees for Finance and Safeguarding. In addition there are working groups for Estates, Equality, Diversity and Inclusion, Education Standards, Marketing and Health & Safety.

Induction and training of new trustees

Trustees are selected across a broad range of professions to ensure a wealth of experience. The current Board of Trustees include experience within Business, SEN Schools/Colleges, Care, Finance, Personal Relations/Marketing and representation from parents of students.

Trustees may appoint a person who is willing to act to be a Trustee, either to fill a vacancy or as an additional Trustee. All Trustees are suitably assessed through DBS and, if appointed, shall hold office only until the next AGM. All trustees write a pen portrait as part of their selection process which helps identify suitability and any potential conflicts of interest. Trustees are expected to undertake induction training within their first three months in role although mandatory safeguarding training (covering Child Protection and Adults at Risk training) must be attended within one month of appointment. Bespoke training is also arranged, as required, informed by analysis of the annual Trustees Skills Audit. Members of the charity guarantee to contribute an amount not exceeding £1, to the charity in the event of winding up.

Charity Governance Code

Trustees fully understand the importance of good governance and see it as vital to the success of the organisation. Trustees have all seen the Charity Governance Code and are aware of the 7 sections contained within it including Organisational Purpose, Leadership, Integrity, Decision Making, Risk & Control, Board effectiveness, Diversity and Openness and accountability.

Trustees see the Code as a tool which will be used to help drive continuous improvement for good governance. Trustees attend an annual strategy day specifically to discuss in detail the code and help develop an action plan in relation to the specific outcomes contained within the document – this will be further developed during 2021/22.

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Key management remuneration

The Trustees consider the Board of Trustees, Principal, Head of School, Head of College, Heads of Care, Head of Finance and Premises and the Head of Health & Therapies to comprise the key management personnel of the charity as listed on page 9. All members of the Board of Trustees give their time voluntarily and receive no financial benefits from the charity. Remuneration of key management personnel during the year, other than the Trustees, totalled £479,839 (2020: £472,064) for the year with employer pension contributions totalling £60,154 (2020: £59,469). Key management personnel (excluding Trustees) are referred to as the Senior Management Team (SMT). A Pay & Remuneration Policy, approved by full Board, is used by Trustees to help determine pay for the SMT which is based around benchmarking data for the sector whilst also taking into account affordability.

Related parties

The charity continues to maintain informal links with The Lantern Community, The Ringwood Waldorf School and Sturts Farm. The charity devolved fully from The Sheiling Trust on 13 July 2015.

Risk management

The charity continues to develop and embed a system of internal control, including financial, operational and risk management which is designed to protect the charity’s assets and reputation. A Risk Register is available which identifies specific risks and assesses their likelihood of occurring and potential impact with regard to financial, operational and reputational. All risks are scored using a consistent scoring methodology and significant risks are transferred to a Risk Reduction Plan which is regularly reviewed by the Senior Management Team and Trustees. The Risk Register (and Risk Reduction Plan) identifies the controls in place to help mitigate risks to an acceptable level. The Risk Register continues to be reviewed and updated.

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STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees (who are also the directors of The Sheiling Special Education Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently

• observe the methods and principles in the Charity SORP

• make judgements and estimates that are reasonable and prudent

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company's auditors are unaware; and

• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Ward Goodman, will be proposed for re-appointment at the forthcoming Annual General Meeting.

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Independent Auditors’ Report to the Board of Trustees

Opinion

We have audited the financial statements of The Sheiling Special Education Trust (the 'charitable company') for the year ended 31 August 2021 on pages seventeen to thirty one. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 August 2018 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

• the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

• the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Trustees Responsibilities set out on page thirteen, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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Statement of Financial Activities August 2020

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SSET Finhni ia Stèttmonl BAlgnce Sheet 31 Augwt 2021 202L Tothl 2D20 Total fijnds UDre5tricted R¢strithJ Notes FIXED ASSETS Tin8ible asse¢s 12 6.200,084 342.201 6.542.285 6,326.076 culuiE￿ ASSETS DebtOT5 C&sh at bank and ID bthd 13 3.534.558 3.7ChS,030 3,534.558 3.772.010 2.508.610 2.916.511 6S.980 7240.588 65.980 7J06,568 5,42S.121 CREDITORS AJwuDts fallw8 dlle 14 (3.143 J42) (3.143.342) (1656,885} 14ET CURRENT ASSETS 4.097.246 65.980 4.163.226 2,768236 .TOTAL ASSETS LESS CURRENT 10.297.330 408.181 10.705.511 9.294.312 CRF.Dm)RS AmDunts fauwg due ￿tT more oDe year Is (562861 (56.286) {67.915) NET ASSETS 10.241.044 408,181 10.649.225 9,226,397 FUl￿s Uttrestricttd 6Jnds R¢stricr¢d thds 19 10241.044 408,181 8,835.942 390.455 TOTAL FUNDS 10.649.225 9226.397 ThE financial thmeDts w¢r¢ approved by the Boatd of 4uthorised for iwie 13 May. 2022 . and w¢r¢ s1￿cd on behatf by.. Mr J Motris- Thjstee N K JohwD- TnL Page | 19

SSET Finhni ia Stèttmonl Caih Flow Sttement ror the Year End¢d 31 Au¢ust 2021 2021 2020 Notes Cash flows from operAtlng aetlwldes C18h 8encrated frorn op¢raLior6 InlErE5t pid 1,042.812 12562) 1.938,099 13,987) Net cash PTowthd by optr%tin8A¢tiviti¢6 1,040250 1,934,112 ¢￿h ftow5 froTn inV¢StiDg Activiti Purchase of tats&ble r￿ed assets Intrre￿ Teceivrd (173,712) (712771 2,335 Net casb ￿¢d ITL illve5ttD8 •¢¢iviri (173,522) (68,942) C¥5h flows from ftnAft¢ln% aetlvltl I￿art itt year 111.229) (9.8781 N¢1 ¢•sh wed io finaDciDg actiwtie (11229) (9,878) Ching¢ in rash #hd esh eqy5v8lents In the reportiDe ptrlod Cash tih eqylvilents #t the beginDing of lh¢ r¢porting p¢rlod 855.499 1.855392 2.916.511 1.061219 C*$h and cash equlvilents it the end of the reporlfing period 3,772.010 2,916,511 Page | 20

SSET Finhni ia Stèttmonl Notes to the Clsh Flow Stsitmtnt for the Yeir End¢d 31 Aygust 2021 RE£ONCILIATION OF Nrf INCOME TO NET CASH FLOW FROM OPERATING AcrivtTIES 2021 2020 Net in¢omt for tbe reporting p¢rlryl (Ai per the StaterneDt of fin*tt¢lal A¢¢iviti¢S) Adjustmtnts for= D¢precialion chèrg¢s Ini¢rest receivoj I0￿¢Stp￿id n¢reaseydecmse in d¢btW5 Incre￿ in LTh4itors 1.422.828 1.399,249 157.503 (190) 2.562 (1.025,9481 486,057 230,48S (2,335) 3,987 135.704 171,009 Ne¢ caih provided by oper¥tSons 1,042.812 1.938,099 ANALYSIS OF CIIthGLS IN NET FUF4DS Ai 1,9.20 Cb¥b flow At 31.8.21 Ne¢ ush Co¥h ai bank and in I￿nd 2.916,511 855,499 3,772,010 2,916.511 855.499 3.772.Qle Debt Debts falliD8 withiD I y Debts falling due aft¢r l year {11.231) 167,915) (4(rt)) 11.629 (11.631) {56.286) (79,140 11,229 {67,91 TJ Tot•1 2,837,365 86Q728 3.704.093 Page | 21

SSET Finhni ia Stèttmonl Notes lo tho FtllgDiJAJ Ststtthehts for the Y¢•r Ended JI Au8ll%t 2021 LEGAL FORM rhe Sh¢ilinK speci￿ Educ41ion is a thri￿ble ￿ny￿ lirnitEd bywMraD¢cg. pword iD EDBlw¥J ar Wal¢s. Thr tc$isl¢Ted office is noied on page 10. AccouNfJiiG POUCIES Batts of prtPArlllg the llnn¢S•l ts¢¢m¢Th15 The fmiThELal sritements of the ¢h•niable comwy. whicb is a publi¢ benefii entity under FRS 102, h•ve bee pared In xcordancc with the Ct￿nIT¢S SOPP (FRS lQ2l'A¢cou￿1u8 •Dd ReportiJ)g by Thatiries." Stltemear of ReconJmend¢d P[B￿1cc applicablr ID chATilkcs pr¢paring their Jo •C¢OTd•)ie with th¢ Fin#￿1 ReportJn8 Stsjthrd Applicable in thr UK aTrJ Republic of Ireland (FRS 1021 (cfftrtsvc l January 20191,. FitiaL¢iAI Reptsrtins Stsnd&rd 102 The FiDartiAI Reptsr￿ sikndard &pplicablt ID the UK and Republic of IrtIar￿. and the c￿ Ae¢ 21J06. Th¢ fiDOThcid swr£nts bave èteth prep￿clI LtndEr thc hilthrital cosi Criti￿1 ¢fQDDtin8 jud8tiDtllts kny SDttrtei oft¥timatiott llnctrtihty In the applKaiion of the ¢han14ble corDpan xcountin8 polici¢5, wbich are dc¥cribed bclDW. thc ttU51tE¥ Te4Ubrtd ¢0 mlke judgow tsrityatrs aod L%&umptlQn$ About thE arnoun￿ of as1$ attd libilitie$ Imt e not nth"ty 4pp•ruLt from sowtts. These c£tLmatts r¥l t￿0¢18￿ assumworts art b•sed hiswn¢al expErien¢¢ and o¢lKr thi¢ ar¢ con¥ideroa ￿ be ielevtht. The •￿1 uDderfyin8 Issuo)pDons Ire r¢viewed on •D on80ing b5il. R¢v]￿On5 to countits8 estimates re¢D￿J5¢d in Ibe period in wbich the esttm• is ￿vISed if the revtsio 4ffe¢ts ordy thwpEriryL QT LD th¢ PCTiod of tht T¢Vi5iOD •TrJ futm puiots if th¢rtvistoo ￿ both •ad fidure p¢riod$. Tbe follow arc 4te¥ tkn e totisidetJ ty be key Sc￿¢¢% of e#titratiott ￿￿t￿lI￿ry, si8uft• Th¢ e¢oDomi¢ i￿¢￿1 Of[￿$￿1£ fixed &55ets the Ttsithjd vlue oll 15 esiirtt by tL¢ TTUSte¢i b¥sfyl o)) th¢ir krKJwl&l8e arKI txperiente. IDtott ttd Otbiori All irw i% rvwised in the StaieuKtti of FIr￿A¢ll1 Acrivines ￿¢¢ the cl￿rity ¢niiiletneni w the fvnds, Lt 18 prob•bk that the illtomc will be rt¢eived aJ¥J the all￿￿nI be Ylle•surtd yeljthly, fe¢s 4Te rnised i Vanc4 Ihe I￿orne is ddeTTcd until thc pcriod w which il relDtrs. th#¢ defrmd amunts ue showD on I baiaa£c Jhe4t within crtditor. falbll8 withjn OllBye•r. Capital 8r8nts ￿ ￿co￿lISed when li entit5e￿O1 not defe￿d o%%r tl lift of the atsei ￿ ￿1th they are exptsjdtd. UrtspeDI •￿￿Ull￿Of ￿Pital 8(￿1 are ren¢cted in the bilaw inthc rcstyJ¢ted c¥irai bjtba. TT•d¢ &nd otbeTdelAon arc rt¢vKws¢d ai thesettle4rtts1 Its)￿rfdUe after a#ytradedistwn¢offered. PrepAY￿￿ts￿¢ v4h1￿ at the lmouuiprrwidrttof Auy tradc discouTrts th. EipendltNre Lixbiiitjes ate ￿¢08￿￿] sow as thtr¢ kpl or col&tr￿lI￿ Oblig￿lj￿ tLrNllilli08 tl cjwity ID thai cxpertthrure. Il 18 probable th•t a Ir•Thsftr of ¢wnomi¢ b¢n¢6ts wll ￿ rEquLre4 in and th¢ arrwl of the oblig&lion ¢•JJ be musured reliab)y EXpeodib￿t is ¥wuntcd for on En I￿vYal5 ba5)s hJ¥ been ¢lwified under beadJu8s thJl iWt8aie ¢c6t It￿le￿ 10 the uie80ry. Wbere costs cwjnoi b¢ directly atthbuieA ￿ PATriCU]￿ IK4th"nx¥ have ￿l0¢￿tEd ID activi￿ On a c(AE51Strlll with use off T•D¥lble Ilxtd *siets Dq>re¢iAW ii provided at ¢be follwng ar￿￿1 ratu in order ￿ ￿711￿ off exh its utirrAr¢d weful life Frrthold PTOkXrty Stszw I￿¢￿v￿r 50yE•ws strai￿t lill¢ over 50yws Page | 22

SSET Finhni ia Stèttmonl NpteA to tbtFAaanthl ststÈrneFkt>-¢wTrtthued for th¢ Year ETLded 31 Au8Urt2021 AccouTrifiNG FOLJCIES- tontlA¥td Tangible fixed astts P14Qt aDd TnachirKry Fixtutu fJtti118S Mowrv¢hicits COMPU￿ equipmeut 200/0 on rcdwJn8 b￿anCe 25% on (¢d￿lD£ bthDre 35% cost Tax•tloD Tht charity is exemw from wtPQTlltioD tsx Oll 14 chantsblE attivitiei. Fund i¢co4ntlD8 Unrtstritied futtds c•n b¢ in with th tlth¥iMblc objec￿Ve4 At the th'xreiicrf of the tsijfjttes. Restricted knds ¢4n [￿lY be used for p￿cu￿rIes￿l¢Ied wrpojes Within theobjxtsof thE cbarhty, Rew]dic￿¥ ise wFn spttifLed by the donor OT th fuyth art rai¥cd for Partic￿￿rrE5trlcLcd pw. FUItt￿ expl￿tion olthe n•r￿C and pu¥po of exb fithd is iDcIth JD IF ttotu to the fwADciiI staiemerts. PenuoD COllUDttmènts The charity (4Jer8tes tw) pellwon scJKDS. A defErd Cotttribuiion Èelme itt ac¢ordatte witb NtioNI Ethployrtrt¢ SavJr8s TNit (NEsf) and a defJTKd bctLefJt sch￿￿ iTh rE&ts"on to tht Tt•¢hers' Pemsion Schert Th¢ TPS is •n sch¢rr and ¢ontributiOThB Are calcuL4ted as to sFKead the cost ofthe rpensiohi over lo>s' workiDÈ livu with tho ¢￿￿ty in VAY th¢ pell8￿ C051 is a wbstsnt1￿]Y level perccnfi8e of ¢utrrDt fi￿lle FnsioDable payioll. Contiibuiioos are delem1￿ed by the Gov¢meDI A¢tyry OD th of 4Wt4UUfLnwJ Thd TPS kn a rnulii.tsllplv56F tsttDE and the tknity is Lthablo w Id•ratify its sb4re Of Ibe aDd liabilitie5 of the sctr￿t on a consistent and le￿nable b¥i%. Thc TPS is tbutlore treated ￿ a ¢fiDEd ts)tstnbutsOn $¢h¢rrt¢. Conrrlbutlo￿ pay•bl¢ to these icTrur¢y uc thu8fAI to th¢ Stste4Mnl of FittD¢ial A¢rivAties iti thE to which thcy rela Dof4ATiof45 ANi) LEGACIES 2021 2020 3.685 63.799 2,103 32.764 67.484 34.867 OTHER TA￿[NG A￿llI[s 2tya) 2020 Funtha￿l￿xeVCt 78 8390.135 194.211 66.359 30 7.351247 730.176 C•rys and rESPite .550,783 8.126.0 Page | 23

SSET Finhni ia Stèttmonl for tht Yt4r E•ded 31 Augll8t 2•21 2021 2020 Rerts Tttei%td Depoyt ICCQURE interejt 22,646 19.429 2.335 22,836 21.764 CHARThABLE ACTIVITIES CO Dirxi ¢OS151 nrkn 7) TotlÉ 7,156.851 61,424 7.218,275 SVPPORrcosrs Ed￿•110￿ 61,424 NET INCOMEI(EXPENDfnJRE) Ntt uK0mtllL¥￿djb￿CI ￿3th¢ed after th￿8￿1￿[￿editth￿,, 2021 2020 DEpTrciiliDn.owned J3¥etT Audits)rB r¢rthJlltta¢ion for •uth't xrviEes 157,503 7.3LK) 230.485 7.ts)0 TRUSTEES, RTMuNr￿Tl0N AND BENEFfTS Th¢¥¢ tru&t¢e ot otkn bentfits for Ibe wltd 31 A￿4￿1 2021 tsot for the jw ctsdtsj 31 Au8uy 2W20. Thi$1￿, e¥p¢Nx¥ Thuc tNstees ex4*￿¢$ pid for thi >w erthj 31 Auwt 2021 Jw Ojr ende 31 ?tllo io. AFF COSTS 2021 2020 Wa8Cs Ind 8&1&ri£1 Sociil sevjriry COX8 5,358,860 387,258 329.660 4.980,490 334,465 315.440 6,075,778 5,630,395 The 4ver48e rllotrthiy of wioyEcsdwin8 the followa". 2021 256 2020 250 En¥loyets Page | 24

SSET Finhni ia Stèttmonl Nolts to the Fln•#cJl Ststerne￿ts. ¢OTbtlDued for thé Yer Zndtd 31 2021 io. srAFTCo￿8- contlnued Th¢rllun￿[ ott4nploy¢¢s whtsse eMplo￿t i)u]tfits (excl￿¢￿￿10ye￿ ptotioot￿EttI excttded £60,tth wai., 2021 2020 UO.CQl . £90.( The sensor ￿￿￿EB￿nI￿a1D rettbwi of £479.839 (2020.. £472.064). COTrIPARA TIVES FOR THE sTATE￿IEr47 OF FINANCIALACTlVtTIES UTwestncted R¢rithJ fund5 fiuJd¥ INCOME AND EPIDOWMENTS FROM DoDatiOTS lod 1¢8a¢le% 2.102 J2.765 34.867 (JhEr trAdiD8 actkvitirs 8.126.060 21,764 6.126.0 21.764 TotAI .149926 32.765 8.182.691 EXPENDITUIiE ON Cbarltsbk 4¢tlvld Ed￿tiO 6.755.496 27.946 6.783.442 Nrr INCOME 1.394,430 4.819 l.J99.249 RECONCIUATION OF FUNDS Totsl fvDdi brou8bi fonY*rd A5 P￿VIoUsly re5 Prior 7.530,249 188.738) 385.637 7.915.886 (B8.738) 7.441.511 J&J,637 7.827,148 TOTAL VUNIIS CARRIED FORWARD .635,941 390.4S6 9.226.397 Page | 25

SSET Finhni ia Stèttmonl Notes to the FIAandal StAtÈmtnts- tonthLthtd r4r the Year Ended 31 uEiISt 2021 12. TAP4GJBLE FIXED ASS Fttebold ¢rty Plant and TrthiDery Al I Sepwnbtr 2020 Addtrioos TTxll5fer 6,386,072 39181 3B.282 (20.2361 2Z,932 Al 31 Augull 2021 6J86,072 57.927 22.932 DKPRECIATXON Ai L Septernbet 2020 269.319 46,[￿0 12286 2.130 Al 31 AupJst 2021 315,379 14.416 NET BOOK VALiIE Al 31 Au8usi 2021 6,070,693 57927 8.516 At 31 August 2020 6.116,753 39.881 10.646 FLXtwcJ Motor vehicks Comput¢r eqiiLP]Tnl fittin83 At I S¢pter&tr 2020 Addiiiotss Trn￿fer toowntrshtp 702,403 135,430 20336 98J17 4B6.109 7,735,914 173,712 At31 Au￿t2021 858,￿9 98J17 4B6,109 7,909,626 DEPRECIATJON At I SeptrmbEr 2020 Ckna￿ for > 407,881 70J69 74,783 5,934 445.569 33.010 1209,838 157.503 At31 Au￿1￿21 478,250 80.717 47&S79 l J67J41 Tr BOOK VALUE Ai31 AU￿tt2021 379,819 17,800 7,530 6.542285 Al 31 Auyjx 2020 294,522 23.734 40.540 6.526.076 Page | 26

SSET Finhni ia Stèttmonl Notei ¢0 tht Flnandttl StsitmeAts. tontthll¢d for the Year Elldtd 31 Au8u# 1021 13. DEBTORS.. AMOUNTS FALLING DVE WITHIN ONE YEAR 2021 2020 T￿]edebt0¢S Othrr d¢b￿r5 3.386.737 32205 2.356.551 32,0 120.059 3531.558 2,508,610 I& CREDTTORS.. AMOUF￿s FALLINC DUE wmiiN Of4E YEAR 2￿1 2020 B•nk lojns aod ovexdrAfts(sg¢ 16) Tr￿C Cwtdilo Socjal %curityarwJ oth¢[￿XC¥ Other ¢i¢thiors Tulls Audder￿a 11,631 432,465 83.120 68173 2.547.25J 11,231 201,173 80,063 60341 1304.177 3.143.J42 2.656.885 15. CREDrroRS: AMOU14TS FALLII¥C DUE AFTER MORXTHAN ONE YEAR 2021 2020 Blok ltsltts (see Dtste 16) 56.286 67.915 16. LOANS An of th¢ olbttmry of Jo8ns is b¢bw.' 2020 Bank Irwjs 11231 Arm)wI￿ f4lliD8 Jtwj." loans. 1.2 yeus J2.044 faItsD8d￿ ty￿1 ytm: Bank loins- 2-5 ye￿3 44242 38.352 f411hD8due in UWT¢ 6vE ytJN'. BaDk lo￿$more 5 yr by inxal 17.932 A y￿1¥b￿ bank loall ￿ 3% thbo￿ b￿¢ rate is repayable by f•lbn8duE Ikccmber 2016 and D¢cemt¢r 2Q26. Page | 27

SSET Finhni ia Stèttmonl riotes th the FlnJtbl State0￿￿1$. CtyntlDutd for th¢ Yéar Ended 31 Awgust 102l J7. LEASING AGREEMENTS 'niTrum l¢a¥E pjynrnts yn&¥ DDn-cthcclknble rw•¢in8 leases thK45 fo11m'. 2021 2020 Within otte )Mr 27.769 10.331 28,016 38.1Tr) 38.100 66.116 SKCURED DEBTS 2021 2020 67917 79,146 Tr lokn sbail be s￿￿ed by th? followJn¢ itt of the to ￿ tbe 1st leg81 thaT8e ovcr tbc &e¢W property at The shell1￿ Honon Ro4 Ashley Ritiwd, Hatrs BH24 2EB. 19. MOVEMENf IN Fuf4DS Al 31.8.21 At 1_920 in klmd5 Unrntrirted funth GeDeril fwjd COV1D-19 ryollse &335,942 so0.￿0 1,405,102 9,741.lJ44 500,000 8,835,942 1.405.102 10241.044 Re%tricttd funds ESFA c4pitsl fu￿Ing College doubl¢ ¢lLs¥foDm ¢witsl proi¢c ScnsoryGarde 141.045 204,386 38.024 7.lJ)O 33J71 12,100) 16,545) 17,QQO) 174.416 202,286 31,479 390.455 17,726 408,181 TOTAL FUNJ)S 9226,397 1,422,828 10,649225 Page | 28

SSET Finhni ia Stèttmonl Nvtr5 to tb¢ Fln•nthl StatÈmtnt$- contlny for thE Ye#r tDded 31 August 2021 19. MOVEMETr¥T IN FUFIDS. ID0￿rK￿l w fvtth, inclth in the ab￿ tsTe ￿ follows.. Incomin8 Resour￿8 Mo￿[￿￿( TeSOUTces cxptth in Unrestri¢ted fvods .577.304 17.172302) 1,40S,102 Rstrkted ESFA c•pital fimding CollE8c double clusmom OrthErupitsl FrfQJ#ty Sellsory G•rdeo 33.7YJ {428) 12,1001 16J45) {37.C4JO) 33 J71 (2.100) (6J45) {7.lYJO} 30,fyX) 63.799 {46.0731 17.726 TOTAL FUNDS 8.641.103 172182751 1.422.828 Comprdwes for ￿￿￿¢ment Nct lllOV¢mlL itt bJr•Js Transttss Ai 1.9_19 Ltjustoiert 31.8.20 Unrtstrlrttd fund8 ral fi4nd COVID.19 reptywe 7.5JO249 188.738) J J94,431 (Joo.¢MI so0,￿0 8,335942 500,Th)0 7.5JO.249 {88.738) 1,394.43J 8,835,942 R¢thcied ESFA upir41 fiJThJing College double classTty)m OthcT Capital projects Hediey TrouNlai Sen￿ry Gatde 115.564 209.160 58.756 25.481 (4.774) (20.732} 12.157) 141.045 204,386 38.024 7.fy)0 385,637 4.818 390.455 TOTAL FUNDS 7.915,886 {88,n8) 1,399.249 9226.397 Page | 29

SSET Finhni ia Stèttmonl Note6 to the Ffjnn¢i￿ Ststemtnts- rontthued lor tbt Year Etr￿.￿ lj A￿8￿¢ 2021 59. MoVEME￿r IN Fuf4DS. contlnyod coowli￿ nEt m0vew￿l in fuThJ¥, In¢lUd￿ in thc kn areas (olios'. Resources Mo¥en]eDt rE¥ourrts cxwdEd In fijrp Ukrestrltted fmlldi .149.926 16,755.495) ,394,431 ESFA CApJthI fvndin8 Collegt doublecllssroom Otkr c¥ital Htyjley Foundation 25.764 1283) (4.774) (20.733) 12,IS7) 25.4BI (4,774) 120.732) 12,IS7) 32.765 (27.947) 4.818 8.182.691 16.783.442) l J93249 Acy￿￿AyE￿r 12 TAJnth¥ Ind prity year 12 TllQDth% ¢ozrtbined is ￿ follows.. Prior Net Tr2D¥fe At 31.8.21 At 1.9.19 in fimds Unrtitri¢ttd fuDdi Gertiil fi￿d COVID_19 TCPO 7.530249 (88,738> 2,799,533 (soo.cw) 500.[ 9.741.044 500.W) 7,530.249 (88,738) 2.799.533 10,241,044 RtStrlcted fuDds ESFA capital fimdink Collt8e double Clas￿0￿ Other c4pi¢al pt(pjt¢ts H¢dleyFoulld•tiOn 115,564 209,160 58.756 2.157 58.852 {6.874) (27.277) 12.157) 174,416 202286 31,479 385.637 408.JBI TOTAL FUNJ)S 7.915.886 (88.7381 2.822.077 10.649225 Page | 30

SSET Finhni ia Stèttmonl Notts to tht St•tem¢Thts- t•thtlMTAtd for the YeAr Ended 31 Aueust 2021 19. MOVEMENT IN FUNDS- coAtlnved A cuThenl year 12 12 [￿nIhI combi1￿ net rwv¢rnen¢ LD inclTr>ded in ibE •E•)v¢ arr follows.. ltteoti)iti8 lie￿1¢¢% Mo¥etM Gen¢AI fl￿ 16,727230 {13,927.69 1799.533 Re41rlded fund5 ESFA capits] fvndjng College dwblt ¢1485T¢)om OIF£r Up1￿ pioiecu H￿1¢Y Found￿0￿ SerAory Giidell . 59J63 ii) (6.874) (27.2781 12,15TJ 137.000) 58,852 (6,874) 127,277) (2,1STJ 37,1]00 96J64 4,020) 22.544 TOTAL FUNDS 16,823,794 (14,001.717) 2,822,077 Restrlcted ffithd$ FSFA fiuJdmK. fvth8 to ktry> Kbool buildJD8S tn l￿d ¢onditioo 50 Stydtsv le4D tu a safe eff¢¢iivt eDvirvow¢nL Capital fU￿ltiE is allocated from tbe ESFA which IS Ikstd 10 fimd specifi¢ eolltKe ¢apitsl ject Colleg¢ double ¢iwrLN)m fundiug . A nEw d¢wble ¢la&srL¥)m wnstsu¢d in 2016117 w4)Ich part.financd by rtteived fmm 8 stptr4 or8wsatims. FwJiti8 weni wwaTth the wsl of two DEW I￿￿h￿in8fi￿DI5tU"n83 equipmcnt. OtFr PTojects fiUJd1ng.￿￿￿ received from or8anisatson5 towatds the costs of 5rn•lL¢t projec illcludinsmkDi-by wIle￿¢ 51Klt¢r. pl•y equiprwit and hall chtiin. Serfjvry 8arden - WL5 f¢ttLved t• fiLnd tl setthtyry pmiett li the SFilih8 prewis4 5Yojed h t¢¢n d¢li)vJ due to the pand¢rw¢. Dtsigoal¢d cov1￿19 R&%poDSt . s¢t to provid¢ SUPPM our qjeratl0tt￿ rcsp)Dst to the the COV1￿19 RELATED PARTY DISCLOSUIIYS Ihue we4e ￿ ttl•te4p•Tty traDsxiiODS fcth¢ y¢•r¢Dded 31 Au8wI2021. Page | 31

The Sheiling Ringwood

Horton Road, Ashley, Ringwood Hampshire BH24 2EB 01425 477488

www.thesheilingringwood.co.uk

Page | 32