2024-08-31-accounts

WELLINGTON SCHOOL 1837 CONSOUDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 REGISTERED CHARITY NO. 1161447 REGISTERED COMPANY NO. 09316033

WELLINGTON SCHOOL 1837 FOR THE YEAR ENDED 31 AUGUST 2024 CONTENTS Pa8e Governors. Officers and Advi5er5 Governors, Report Ilncluding Strateglc Report) 5-29 Statement of Governors, Responsibilities 30 Report of the Independent Auditor to the Governors 31-34 Consolidated Statement of Financlal Activitles 35 Consolidated ènd School Balance Sheets 36 Consolldated Statement of Cash Flows 37 Statement of Accountlng Pollces 38-41 Note5 to the Financial Statements 42-61

WELUNGTON SCHOOL 1837 GOVERNORS, OFFICERS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 GOVERNORS The Governors of Welllngton School 1837, "The Charity" or 'The School" who are also the charity trustees under charity law and the directors of the charitable company, and who served during the vear and up to the date of si8ning the accounts were as follows.. Ms A Govey 8Sc, MSc• _ Chair Mr R Palfrey MA, PGC- Vice Chair Mr R G Harding CBE. Mr J Vick BA IHonsl, PGCE, MA Mrs S Page 8Sc Mr5 S Merry BSC, RGN Mr M W Rowe BSC (Honsl. Mr D J Sjames MEng CEnB MIMechE MBA Mr K A F Wheotley LLB, PGCE. NCTJ, Dr I Palaio108ou BA, Med, PhD Iresigned on 27 May 20241 Mrs H Grant Bed13ppointed 06 December 20231 Mr C Reah PCIAM, Bsc lappolnted 06 December 20231. Mr G Mltchell AC18 lappointed 21 June 20241. Members of the Finance Sub.Committee. OFFICERS The Headmaster Oeputy Head IAcademlcl Deputy Head IPastorall Deputy Head Ico-curricularl Head of the Prep School Olreclor of Finance Director of Development Director of Human Re50vrces Dirertor of Operations Clerk to the Governors E du Toit MA, MBA Iresl8ned 31 August 20241 H 8arker BA IHonsl PhD, PGCE A Kemp BSC, PGCE N Renyard 8A IHon51, MSC, PGCE V Richardson 8Sc, PGCE F Taylor ACMA, CGMA R Debenham BA FCIPD E Weis5 BA (Honsl, MCIPD J Talllng MRICS, FAAV S Tier LLB Hons, PG Dlp REGISTERED OFFICE AND PRINCIPAL ADDRESS Wellington School South Street Wellington Somerset TA218NT The day to day running of the School is delegated to the Headmaster.

WELLINGTON SCHOOL 1837 GOVERNORS. OFFICERS AND ADVISER5 FOR THE YEAR ENDED 31 AUGUST 2024 ADVISERS Bankers Lloyds Bank pl¢ 10 Canons Way Harbourside Bristol Somerset BSI SLF Sollcltors Porter Dodson 15 High Street Wellington Somerset TA218QR Stone Kin8 LLP Upper 8orough Court IU8CI Upper Borough Walls Bath BAI 2HJ Independent Audltor Crowe U.K. LLP 4th Floor, St James House St James, Square Cheltenham Gloucestershire GL50 3PR Insura￿* brokers End51elgh Insurance Senjlces Llmlted Quadrangle Imperial Square Cheltenham GL50 IPZ

GOVERNORS, REPORT WELLINGTON SCHOOL 1837 FOR THE YEAR ENOED 31 AUGUST 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Wellin8ton School is a company limited by guarantee (number 093160331 registered in England and Wales, and is a registered educational charity with the Charity Commission Inumber 11614471. The Governors, officers and advisers of the charity are set out on page5 3 and 4. STRucfuRE, GOVERNANCE AND MANAGEMENT Governlng Document All the undertaking5 of the School were transferred across to a new company, Wellington School 1837, on I September 2015, with the exception of the endowed propeities,. these will continue to be held in the old trust Iwellington School). A 'Uniting Order, was obtained from the Charity Commlsslon removing the need to prepare separate accounts for both the company and the trust in the future. The new company became a Corporate Trustee of the old trust on I September 2015 and the company 1$ governed by Articles of A550ciatlon as amended on 22 Au8USt 2018 and 21 June 2024. Governlng Board The Governing Board consists, when complete, of up to sixteen persons, belng seven nominated Governors and nine co-opted Governors. Governors can 5eNe for two consecutive periods of five vears. The nomlnated Governors are appo5nted as follows.. One by Wellington Town Council One Inot bein8 Staff at the School) by the staff of the School. Recrultment and Tralnlng of Governors The Governin8 Body looks for diversity of knowledge and experlence in recruiting Governors and Seeks to create a body in whlch gender, race, religion and the social and economic groupings in society are properly represented. The Governing Body requires breadth and depth of experience to carry out its duties effectively and efflciently and in addition, consideration 1$ glven on recruitment to the passion for the work of our School and an understanding of education as a holistic and rounded experiellce of personal growth. New Governors are required to V15it the School for a conducted tour and a structured induction. In addition to in-house briefing5 Governors are encouraged to attend outside seminars on matters relevant to their duties and responsibilities. Organi￿tiOnal Management The Wellington School Governors, as company directors and trustees of the Charity, are legally responsible for the overall management and control of the School. They meet four times a year. The work of implementing most of their policies is carried out through committees of which the Finance Committee Is principal. Financial control is exercised over the activitie5 of the School by means of an agreed annual budget. The other committees are the Academic Committee. External Relations Committee, Operations Committee, Pastoral and Co-curricular Commiltee and the Governance Committee. All committees meet three times per year, and can meet more frequently if required to do so. Other committees and working parties are foimed to meet specific requirements of the Governing Body.

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Organisatlonal Management (continued) The day to day running of the School 1% delegated to the Headmaster,. the Head of the Prep School is responsible to the Headmaster for the day to day running of the Prep School. The Headmaster and Head of the Prep School attend meetin85 of the Governor5 and Committees. Members of the Leadership Team attend the committee meetings relevant to their area of re5POllsibllity. Key Management Personnel The Governors, together with the Headmaster, Deputy Head (Pastorall, Deputy Head IAcademlcl, Deputy Head Ico-curricularl, Head of Prep School, Director of Development, Director of Finance, Director of Human Resources and Director of Operations constitute the School's Executive body. The Governors give of thèir time freely and the pay and remuneration of the Heodmaster 15 set by the Full Governing Body and is kept under annual review. A number of criteria are used in settin8 pay: Nature of the role and responsibilities Competitor 5alarie5 in the region The sector avera8e salary for comparable positions in relation to slze and type of school Trends in pay Annual performance and appraisal revlews. Relatlonshlps wSth other Or8anlsatlons Wellington School actively supports the attainment of the highest standards In education ènd holistic development of it5 pupils through membership of the Association of Governing Bodies of Independent Schools IAGBISI, the Headmaster's membership of The Heads, Conference IHMCI, the Head of Prep's membership of the Independent Association of Prep Schools IIAPSI and the Director of Finance's membership of the Independent Schools Bursars Association IISBAI. In addition, these standards are achieved by networking with other schools In the independent and maintained sectors ensuring staff are professionally developed and evaluated for quality and performance. Membership of HMC and ISBA a150 permits appropriate representation to government and regulators of the views of the sector. The School also works closely with other charities and public organisations to develop social awarene55 in our pupi15 and widen public access to the schooling and facilities available. Wellington School also benefits from a thriving network of past pupils and other supporter5 through the Old Wellingtonian5' Association and Friends of Wellington School CIO. As the secon(I largest employer in the town, there are few families in WellinEton who do not have a connection with the School. Employment Pol•rv The School is an equal opportunities employer. Full and fair consideration is given to job applications from disabled persons and due consideration 15 given to their training and employment needs. Consultation with employees, or their representatives, has continued at all levels with the aim of taking the views of employees into account when decisions are made that are likely to affect their interests.

WELLINGTON SCHOOL 1837 GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Employment Pollcy (contlnued) Communication with employees continues through normal management channels in a variety of forms, including the Headmaster's Advisory Group and Wellington School Works Council, and a150 through exceptional channe15 to appraise staff of current issues. The School continues to submit annual Gender Pay Gap Reports to the Government Equalltles Office. OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES Charitable Objects The Charity's Objects, as set out in it5 Artlcles of Association, are'the provision and conduct, in or near Wellington, of a day or day and boarding school for boys, and girls,. Alms and Intended Impact Within these Objects, the aim of the School is to provide education In a supportive, caring and approprSatety disciplined environment. Withln this environment pupils are encouraged to develop independence of thought, self-motivallon, respect, high standards of behaviour and consideration for others. They are expected to work hard and to make the most of their talents by participating fully in the curricular and co-curricular life of the School and by contributlng both to the Wellington School and wider community. The khool'5 educational philosophy rests on three pillars.. buildlng outstandlng relation5hip5, the pursuit of excellence and a love of learning. These three pillars confirm our'process orientation, We have hi8h expectations of our children and we proudly celebrate their many remarkable achievements. However, we do not focus on outcomes as an end in themselves. Rather, we concentrate on getting our processes right and believe that optimal outcomes will follow. This removes the wei8ht of institutional pressure and expectation from children and replaces it with an environment in which chlldren can grow and develop in an afflrming and nurturin8 environment. The objectives for the School were set having considered the Charity Commisslon's general guidance on public benefit and in particular its supplementary guidance on advancing education and on fee settin8. The Governors and Offiters of Wellington School view the awarding of scholarships and bursaries as an important public benefit in helping to ensure that children from farnilie5 who would not otherwise be able to afford the fees can access the education being offered. Further details on other public benefit provided by the Charlty can be found on page 11. The Governors and Officers take the public benefit guidance into account in planning activities during the year. The key objectives for the year included: Supportin8 the wellbeing of puplls and staff. Continuing the development of pupils, independent learning skills, and giving pupils the opportunity to consciously reflect on the wider skills they are developing as they engage in curricular and co-curricular activities.

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Aims and Intended Impart Icontinuedl Reviewing the use of IT in the classroom to ensure that our provision is appropriately supportive of our pupils, learning. EnsurinB suffitient capital investment across the School'5 campus. Ensurlng that the School's taught curriculum recoBnises that extensive arbd valuable contributions made by women, and members of the black, Asian and minority ethnic IBAMEI and LG8TQ+ communities. Providlng parents with more opportunitles to socialise and establlsh relatlonships through school activities. To create and launch a new fundraising Strategy for bursarles and a capltal project. Strate8Se$ to A¢hleve the Year's ObJertlve5 The Governors, strategy for achlevlng the objectives is focused on maintalnln8 and improving on the School's academic curriculum, teaching practices and achievement in public examinatlons through review and benchmarking to ensLtre that they are meetin8 the needs of further education and employment for our pupils. The Governors are mindful of the need to widen access to the School and welcome pupils from all backgrounds. To achieve this strategy the Governors and Officers.. Provide a process for continual Improvement of the curriculum to meet changing educatlonal demand5 whilst establishin8 consistency and progression within and across grade levels and subjects. Contlnue to improve the School's facllities throu8h increased investment In technology and development of classrooms, workshops, learning and social spaces, and day and boarding facilities. Continue to develop and enhance co-curricular activities to ensure our pupils are stimulated and challen8ed. Contlnue to invest Sn the wellbeing of puplls of staff and continue to undertake surveys to ensure the invested is targeted where needed. Continue to review and develop the School's scholarship and bursary structure to widen access to pupils from all backBrounds. Continue to resource appropriately the Marketing, Registrations and Development offices in a way that will best serve the School into the future. Contlnue to support The Friends of Wellington School in runnin8 social events.

WELLINGTON SCPIOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Princlpal Activities, Achievements and Perfomiance of the Year The School continues to develop its already high standards of teaching and learning by providin8 opportunities for teaching staff to reflect on their pedagogy and share best practice. INSET at the start of the academic year 2023-2024 focused on teaching and learning, with Sessions on a range of topics being led by colleagues from a variety of departments, as well a5 an openin8 presentation by a vlsiting keynote speaker who is an expert in creative curriculum design, with particular focus on concept led and enqulry curricula at KS3. Areas covered by other colleagues Included.. Project based learning; Metacognition and self-regulated learning,. Al and the future of teaching and learning,. The role of skills and competencies In learning. These sessions were designed to facilitate the sharing of best practice, the exchange of ideas and strategles, and to promote further discussion about teaching and learning. In addition to the opportunities provided ot termly INSET tralnlng, the creation of a Learning Forum has also enabled teacher5 to share ideas and strategie5 wlth colleagues from other schools. The school remains committed to providing pupils with opportunities to develop the skllls and attributes required to be reflective and independent learners, and to develop their research and communication 5ki115, as well as ensuring that pupils of all abilities are appropriately stretched and challen8ed. 2023-2024 saw the introductlon of a new programme for Academic Scholars includln8 different pathways foi pupils in Years 7-9 and those in Years 10-13. The Sixth Form Academic Enrichment programme has also been reviewed, with the introduction of a Pre-PQ course. Thls has been designed to develop a wide ran8e of skills that are useful for both A Level and university study, as well as bein8 the skills needed to 5vcce5sfully complete the Extended Projeci Qualiflcation. The School's careers provision continues to go from strength to strength, and in 2023 the School was a finalist in the 'Student Careers, sectlon of the Independent Schoo15 of the Year awards. Wellin8ton was also hlghly commended in the Muddy Stilletos 'Prepared for Life, category 2024. Furthermore, our excellence in the area of teaching music and the performin8 arts continues to be recognlsed: Wellington was a winner in thls area of the Muddy Stilletos awards 2023, as well as flnalist in the Dynamic Performing Arts category 2024. In addition, our Director of Drama was a finalist In the TES Subject Lead awards 2024. Co-curricular activities contSnue to flourish, constructed around five core elements: Sport, Music, Drama, Outdoor Education lincluding The Duke of Edinburgh Award scheme at Bronze, Silver and Gold) and the Combined Cadet Force ICCFI. A wide range of enrichment clubs, from Chess io Debatin8 and Politics to Conservation, enhance provision further. The Co-curricular 'Directory' lists over 200 activities that pupi15 can participate in outside of the classroom. The Norman Cup House competition ontinue to be very successful in developing House spirit and promoting a breadth of participation. Houses participate in over 220 events during the academic year. Last year's introduction of Houses in to the Prep School ha5 been very successful and we are now looking at school-wide House events. The Drama department continues to thrive. LAMDA tuition has never been more popular with over 270 entrie5 into examinations over the past academic year. The department have been pleased with

WELLINGTON SCHOOL 1837 GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGLIST2024 Principal Artivltles, Achlevements and Performance of the Year (continued) a 100% pass rate, with 80% of entrants beinB awarded a Distinction. Performances this year have included Chicago and Charlie and the Chocolate Factory. The performance opportunities have been for accessible for all the pupils, either in acting or supporting roles. The Stage School and The Dance School has been met with 8reat enthusiasm in the School and the wider community. We currently have 62 students signed up to take ballet or modern dance classes and over 60 students signed up for the Saturday mornin8 Sta8e School. The 8rowth of our performing arts is one of the great success stories of the last few years. One of our pupils has been talent spotted and is part of a BBC Drama production filmin8 in Malaysia. The Director of Sport and Wellbeing continue5 Wlth his involvement in partnership programmes with feeder schools in both the maintained and independent sectors, promoting an increased level of physical Ilteracy into their PE offer; links with local cricket and rugby clubs has enabled the School to widen access to sportin8 excellence. The school also hosts 'parent5' clubs, in many sports, including rugby, hockey, netball, football and crlcket. The Chapel Choir contSnued to rehearse and enjoyed performances throughout the school year. Three excellent carol services in the School Chapel, with addltlonal Compline and Evenson8 seryices through the year. Trips to the churches at Culmstock and Wiveliscombe have been well.supported by local communlties and the parents of chorlsters. There have also been trips to sing in Salisbury cathedral. Our community choir and communily orchestra joined member5 of the School13-181 to perform at the Summer Proms Concert. The Wellington Young Muslcian programme was launched back in 2020, wlth competitors in three different experlence classes competin8 for a range of prizes. This initiative ensures a vlbrarst approach to instrumental learning, as the School campaign5 to promote participation in a wide ran8e of instruments. Physical activity and leadership experience via the CCF (Combined Cadet Force) and Outdoor Education programmes continue5 to have a slgnificant impact. The CCF have a close partnership with the Wellington Town ACF IArmy Cadet Force) providing ranBe.qualified instructors to allow cadets from the community to participate more fully in their activities. Our Corps of Drums plays an important role in the town's Remembrance Day activities, The Wellington Carnival and the 51 George's Day Parade in Taunton. Approximately 215 cadets make Lbp the three sections, Army, Royal Navy and Royal Air Force. Outdoor Education has grown in range and quality, with more than 120 students taking part in the Duke of Edinburgh Award Scheme, expeditions, camping or walkin8 up Snowdon embedded in year5 7 to 9 as an expectation for all pupils, and the Ten Tors challenge in addition to overseas expeditions forming a core part of the opportunities available for older students. This year we entered three teams In to the Ten Tors challenge; two teams from year 10135-mile route) and one team from year 12145- mile route). We are.proud to have been shortlisted for many awards across the khool; io

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED JI AUGUST 2024 Principal ActSvit5es, Achievement$ and Performance of the Year (contlnued) Winner- Best Independent Day & Boarding School- Wealth & Finance Awards Finalist - BSA- 8est Community Work Finalist- BSA- Khadija Saye Photography Award Hi8hly Commended - Muddy Stilettos- Prepared for Llfe Award Finalist- Muddy Stilettos- Dynamic Performing Art5 Shortlisted . TES- Primary Curriculum Lead of the Year - Maths Shortlisted - TES- Secondary Subjects Lead of the Year- Drama Shortlisted - TES- Teaching Assistant of the Year Shortlisted - Independent Schools of the Year- Best Prep School Shortlisted - Independent Schools of the Year- Best Co-educational school Woodland Trust- Gold Aword Cyber First- Gold Award Volunteers The School is indebted to the many volunteers who give up much of their time to 0551st with activities or to ralse funds to help improve the facilitles. In particular, the Governors would like to take this opportunity to thank The Wellin8ton School Foundation, the Old WellinBtonians' Assoclation, the CCF volunteers, and the Friends of Wellington School for their considerable hard work in developin8 the school community. Their help is invaluable in provlding the extras that improve the quality of life and enhance learning for our pupils. PUBLIC BENEFIT Bursarles The Governors and Officers of Wellington School view the awarding of scholarships and bursaries as Important in helping to ensure that children from famllies who would not otherwise be able to afford the fees can access the education being offered. Following the discontinuatlon of the Government'5 Assisted Places Scheme, the Governors immediately introduced an Academic Grant scheme which, partly funded by currenl parents and ex-pupils and 5upporter5, allowed the School to continue with Ihe wide access to Wellington that we are known for and which ha5 given so much to the ethos of the School. From September 2010 the maximum means tested academic grant wa5 increased from 66% to 120% of full fees to allow qualifyin8 recipients to be free of tuition fees as well a5 additional assistance to cover ancillary costs such as meals, travel, educational visits and trips. The Acadernic Grant System has now been replaced by a bvr5ary system and the Governor5 view our bursary award5 as important in helping to ensure children from families who would otherwise not be able to afford the fees can access a Wellington School education. The awards are made available to all who meet our general entry requirements and are made 501ely on the basis of parental means or to relieve hardship where a pupil's education and future prospects would otherwise be at risk for example in the case of redundancv. This year the value of scholarships, bursaries, grants, prizes and other awards made to the School'5 pupils once again exceeded 14Yo of total fee income. In addition, and as part of our emphasis on attracting and retaining high calibre staff, we offer a discount scheme where staff members choose to li

WELIINGTON SCHOOL 1837 GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Bursarie5 Icontlnuedl educate their children at Wellington School. A substantial legacy donation to The Wellington School Foundation and the generous gift from a former pupil has allowed for one full boar(Jing and one full day place to be provided out of Foundation income from September 2010. Scholarships are awarded at Il+. 13+ and 16+ and are awarded for academic, sporting, artistic, musital and dramatic performance. The Wellington School Foundation supports a number of pupils at the School with some bursaries available at IIXI% of fees. Access Pollcv Chlldren benefit from learning within a dlverse community and with pupi15 from all social and ethnic backgrounds. Consequently, the Governors are adamant that access to a Wellin8ton School educatlon 15 not restricted to those who can afford the fees. The policies for scholarshlps and bursaries continue to be developed to support thls aim. With help from The Wellington School Foundatlon, the School has been pleased to be able to widèn access and support youn8 people whose financial tircumstance5 would not otherwise allow them a Wellington School educatlon. Admission to Wellington School depends upon a prospective pupll meeting the criterla required to malntain and, if posslble, improve the educational and 8eneral slandards for all its puplls, commensurate with the School's ethos and alms. The School must also be confident that it will be able to educate and develop the prospective pupil to the best of his or her potential and in line with the general standards achieved by the pupil's peers. Entrance assessments and intervlews are undertaken to satisfy the School and parent5 that potential puplls can cope with the pace of learning and benefit from the education provided. An individual's economic status, gender, race, ethnicity, sexual orientation, religious beliefs, and in most cases disabillty, do not form part of this selection process. Communlty artlv6tSes Wellington School has been part of the Wellington community since 1837 and we take great pride in playing a full and active role in the life of the town and the wider local area. The community beyond our gates is an integral part of the identity of Wellin8ton School and we are deeply committed to Supporting it to the very best of our ability. Whether in the form of bursaries, sharing our facilities, community service or hosting joint learnin8 and events, Wellington School seeks to support families, Schools and partners in many varied way5. At the heart of all our partnership5 lie5 an unshakable belief in the importance of building outstanding relationships and these relatlonships are based on value5 Such a5 kindness, empathy, inclusivity, equality and community, 12

WELLINGTON SCHOOL 1837 GOVERNORS. REPORT FOR TrIE YEAR ENDED 31 AUGUST 2024 Community activltles {contlnued) Charit Su ort Wellington School pupils are regularly involved in fundraising activities, ralsing money for local, national and international charities. Wè have Charity Captains, who work with Houses and individual groups to shape events and raise funds. Each year the students bid for their favourite charities to support - there is always a local, national and international charity. The Senior School charities for 2023 - 24 were Children's Hospice South West, Cancer Research UK and Sove the Children Fund. The Prep School selected Cr15is, Britlsh Heart Foundation and the World WildLife Fund. We focus our fundraising efforts in order to build up strong links between the school and a charitv over the course of a year, enabling our children to learn more about how and where their fundraising is spent and a150 to prevent 'charity fatl8ue'. Charit D We hold frequent charity days, bake sales, Christmas jumper, mufti and activities days to raise money for our school charilies. Through our Harvest Appeal to all members of the Wellington School Community, we were able to deliver over 400kgs of food to donate to the local community. Feedin Communiti We have an ongoin8 SUPPOrt programme with the charlty Feeding Communities which glves carers month's worth of Friday night meals for them and their family so they can have some re5Plte from cookin8. Students have been volunteerin8 With the charity to cook, package and deliver over 2000 boxes to local families and primary schools in the area, funded by the School. We also raised money to buy a community freezer located in school, which is filled wlth home-made mea15 for members of the community to acce55 should they need a 8ood meal throughout the year. Reminiscence Learnin Ch We have close links with our lotal dementia charity, Reminixence Learnin8 and many opportunitles to support and interact with them. Our Music Department regularly visits the centre to perform and provide contact and support. Music Is one of the last senses to remain during the onset of dementia, so live performances and interaction is Invaluable. Our Sixth Form students work with Reminiscence Learning at their Funday Friday, providing activities and interaction for members of the communlty with dementia. These range from origami to mindful colouring and chair dancing to games. Reminiscence Learning also visited our Sixth Form Medital 13

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Communlty artlvltles (continuedl Society Imedsoc for students who are hoping to work in health care professions) to talk about dementia to help increase awareness and understanding. The hri Ham ition f h Pantr Pro ect We supported the excellent local Wellington Pantry Project to assist members of the community at Christmas. Tutor groups, colleagLses and familie5 got together to create a mountain of luxurious Christmas hampers which were presented to the trustee of The Wellington Pantry Project. ma er com The Wellington Pantry charity provides for people long term so their members are generally those people who are chronically unable to afford food for themselves and their families over a long period of tlme. Swimathon Each Year, all our Prep School children take part in the exciting Swimathon to raise money for school charitles. Parents and staff swim from 6am and have a very welcome bacon bap when they emerge. The target is over 6,000 lengths and the Headmaster and Head of the Prep School traditionally make splash as they swim a bonus len8th. Each year, puplls have a whole day of BBC Children in Need Fundraising activities. With hot chocolate and buns on sale, busking and buckets out, pupi15 of all ages enjoy some deliciou5 donuts and our own special Pudsey Bear makes an appearance. The whole Senior School turns out to watch the Headmaster, teachers and house captains being water bombed. All these actlvities are run by the houses with the students masterminding and organising all activities. san Charit Events Our renowned Chapel Choir re8ularly travel around the country performing to ralse money for charities and support local communltles. Recent trip5 have included a wonderful Carol Service with Age UK Somerset at the magnificent Wells Cathedral, Evensong at Salisbury Cathedral, Truro Cathedral and Tewksbury Abbev. Music Award holders also re8ulaTly perform for local care homes and residential homes. Fundraisin for Pa ru After the tragic suicide of a much-loved member of the Sixth Form, hi5 friends and teachers came together to raise money for the teenage suicide charity Papyrus. Hair Donation for The Little Princess T Several of our kind pupils have donated many inches of halr to The Little Princess Trust. This fantastic organisation provides free real hair wigs to children and young people, who have10st their own hair through cancer treatment or other conditions. 14

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Communlty activities {continuedl ommunit Events We are proud to be a central and pivotal resource within the local area. As such we are able to host lar8e scale events lor the benefit of the wider community. hristmas Fair We run a fabulous Christmas Fair open to the whole community. With hordes of sta115 from local crafters, Father Christmas land elves) a double-sized ice rink, Chrlstma5 market and festive café, it is truly integrated community event. CF and Over 200 students are part of our Combined Cadet Force with representation from Army, Navy and Air Force section5. In addition, we have a vibrant Corps of Drurn5 band which participates in many local events. The CCF and Corp5 of Drums lead the Remembrance Parade through the town to the Memorial on Remembrance Sunday, provide buBlers for the lown events, lead the St George's Day Parade throu8h Taunton and the local carnival parade, as well as supporting other local event5. Our CCF have provided a Lord-Lieutenant Cadet for many years. They ass1St the Lofd-Lieutenant as required, often on parade for Royal visit5, and act as ambassadors for their or8anisations and the young people of Somerset, We are also excited to be hosting the Somerset Lord Lieutenant's Awards ceremony this year. Year 7 and 8 children worked with Somerset West and Taunton Councll who are producing a Wellington Place Plan. The Plan will help the Council in Sts decisions around the development, regeneratlon and conSe￿ation of Wellington. It will look at potential optlons for growth to support housing and employment needs,. retail and Commercial function,. transport 5y5tem5- culture and heritage. Little Wellies Toddler Gro Our Prep School opens its doors each week to hosts of parents and toddlers from the surrounding community, who are invited in to use our facilities, enjoy some sotialising time and put in place some learning building brick5. The sessions are run by our own teachers, 50 a stron8 educational focu5 IS always present. Duke of Edinbu h Awar As part of their Duke of Edinburgh Award Scheme, around 125 pupils each year volunteer for minimum of three months at a range of local organisations and tharities, including local care homes. Other activities have included... Fundraising for a local church. Collectin8 food and medicines for thosè shielding or with reduced mobility. Working on a project to increase wild animal habitat Using sustainable methods. Pupils provided over 3,(KK) hours of community Se￿iCe. 15

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Communlty activitie5 Icontlnuedl Cit12ens Around 80 Year 10 and 11 students take part in our citlzens programme, which operates as a carousel of six different elements.. Local, Global, Eco, Senior, Radio and Equal Citizens. We are also part of Citizens Somerset, worklng on campaigns a5SOClated wlth Fair Fares for Young People (bus travell, a street safety campaign and currently leading an alllance listening campaign into Mental Health across Somerset. We are part of Taunton Transition Town, a group of individuals from the communlty working tO8ether to meet the twln challenges of Peak Oil and Climate Change, helping to protect the environment and educate the local communltv. As part of our involvement and work with the local community, we recently hosted the Citlzens Somerset Wellington to Taunton Cycle route Stakeholder conference. With input from Wellington Town Council, Transltion Town Wellin8ton, local MP Rebecca Pow, students and staff, the confèrence helped to shape the future directlon of the project. Our Citizens Pro8romme dellvers over 5,OC4J hour5 of communSty service. m nit Partici Students at Wellington are also very involved with other areas of the local community,. Local community invited to Drama production5 and concerts, Chapel Services and Remembrance parade. H05ted the annual Wellington Flower Show. Bi-annual choral productlon for whole community. Community choir and orchestra welcoming members from school and beyond. Chapel services open to all. Sam Sherwin Memorial Rugby Match- School v Town. Providing parkin8 for local Farmers, Markets and Communlty Hospital. Students displayed artwork in local art exh5bitions. Participated in the Wellin8ton Film Festival. se of Facilities As part of our commitment to the wlder community, we are dellghted to offer the use of our facilitles to local organisations at heavily 5ub5idised rates. Su ortin Local S h Is We run an ongoing pro8ramme of partnership events to involve local primary schools and individual children from outside the school community. We were aware that many local primary schools do not have the resources and facilities that Wellington benefits from and we are pro-active in providlng support, resources ané practical help to many schools and children in the area. Each year we welcome well over I,CKX) children from surrounding primary schools to participate in events. 16

WELUNGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Community activities Icontlnued} During the year, we run a number of partnership actwlties. includin& "Come and Sing" day- preparation in advance Irecordings and scores created, visits to all schools and workshop51. Whole day rehearsa15, "The Voice" style sing-off and performance1400+ children). 'Ml8hty Orchestra" Primary School instrumental pupils Invited to rehearse and play with Wellington School orchestra130+ children involved). "Come & be a Choflster. local Primary School children invited for a day-long workshop with our celebrated Chapel Choir, culminating in a performance120+ Children involved). Wrltlng Retreat - always with a clear theme, schools are invited to brlng teams to be creative. With live Q&A session with published children's authors, top tips and some Creative writing task5, competitions and challen8es, It is a fantastic chance for budding literary stars, and culminates with parents returning to hear children readin8 thelr work122 schools- over 200 children). Maths Challenge - this has been running for 25 years and over 60 local primary schools1250 children) come along for a morning of Mathematlcal conundrum5 and team challen8es. With prizes and active participatlon, it is a firm fixture on the calendar of many local primary schools. Orama Club - our drama teachers run partnership drama clubs in local primary schools. They 80 into the schools to inspire and enthuse young pupils weekly throughout the year and all the children from the different schools then Join us for an exciting showcase at the end of the year using our theatre and technical facilities. Music M05terclasses we regularly run Masterclasses with professional musiclan5 and artists- our own students join students from other Schools to work with them for a day, culminating in an exhilarating concert incorporating all students and the professionals. This provides opportunlties to explore a variety of 8enres and experience a hi8h level of performance. Sta8e School - we have set up a Sta8e School every Saturday morning with great success, which is open to our own pupils and external children. Pupils from Year 1-8 are coached by our own Drama staff, within workshops and work toward5 regular showcases each term. We now have over 60 students engaged with the programme and last year, three students 8ained a place with the 8rit15h Youth Music Theatre company. Dance School - our Dance School caters for children aged 3 to 18 and is open to puplls and local children. Classes are offered in ballet and modern with our RAD qualrfied instructor, in our purpose- built dance studio. Pupils of all ages love their ISTD Modern Dance and Ballet lessons. Sports tournaments- including interschools cricket, football and rugby tournament5. Secondary School Unks- pupils from local secondary schools invited io event5 including.. Passmore lectures- local Secondary Maths students attended 17

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Community actlvltles Icontlnued) Horizons Academic lecture series- local schools invited Local Club Events The School has hosted various club events includin& Elite Cricket Development. Rugby Tournament via clubs. Wellington Foxes Hockey Team. Foxes Hockey tournament. Su ortin Local Wider Education Wellington School is committed to supportin8 teacher training and professional development for newly qualified teachers, now known as Early Career Teachers IECT'S) in the region, by offering platements for PGCE students and sUPPOrtin8 the two-year Early Career Teacher programme. The School currently trains students throu8h 8uckin8ham University and the ECT two-year post qualification proBramme through The Independent Schools Teacher Induction Panel. The School has supported.. Six ECTS in the past two years. One person through teacher training in the last two years. Three individuals on apprenticeship schemes. Ten members of staff slt on 8overninE bodies of local schools. Many members of staff are involved in coaching and traininB in local sports clubs. Wellington School is one of the largest employers in the town, employin8 300 local people. SupportSng the local community is really important to Wellin8ton School, and we are proud to sponsor a number of local clubs and charlties. Support Includes providln8 klt, rosettes, award5 and financial $5i5tance. These include,. Conquest Equestrian Disablllty Centre Wellington Ru8by Club Exeter Chiefs Heathcoat Cricket Club Topsham RuBby Club Taunton RFC Exeter Rowing Club Regatta Trull School of Dance Wellington Pantomime Wellington Cricket Club Taunton Vale Pony Club Wiveliscombe & WellinEton Community Radio Culmstock Cricket Club Cham ionin SustaSnabill We are passionate and enthusla5tic about the sustainability agenda and want to encourage the whole community to become involved in shaping our future. 18

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Communlty actlvltles Icontlnued) We are all working together to create a sustainable campus by ensuring our built environment is managed in a way that 15 sympathetic to our environment and its historic context, meetin8 the needs of the pupils now as well as those of future generations. Everyone, In whatever role, has an important part to play in contributing to the creation and maintenance of a sustainable campus and to living its values and ambition. We have been busy developing sustainable solutions to environmental problems and have developed number of projects,. One Planet. One Ilfe. One Cup Wellington School introduced a site-wide sustainability initiative which aims to reduce Wellington's impact on the environment. The School, alon8 Wlth caterin8 supplier Thomas Franks is working with Event Cup Solutions to implement the ONE Planet ONE Chance Reusable Cup System. There are designated collection points throughout the campu5 to dispose of cups, whlch means they can be washed and reused in the café. Clrcular Economy Hub- we are delighted to be in a partnership with the University of Exeter's Centre for Circular Economy. We have collaborated with the faculty in exploring ways in which Wellington can enhance our own approach to sustainability, and play a leading role within our local community. Transition Town Wellington - we are part of Taunton Transition Town - a 8roup of individuals from the community working together to protect the envbronment and educate the local community. We hosted the Citizens Wellington to Taunton Cycle route Stakeholder conference. Wlth Input from Transition Town Welllngton, Wellington Town Councll and local MP Rebecca Pow. Redu¢in8 Elertrlclty Usage and Waste - We have an active Eco-committee who meet regularly and represent the whole community. We undertake energy audits. We have an EPC for all our buildings. We have installed lower electric LED lighting around the campus. We have replaced our diesel van with an electric van for our campus team and are explorin8 electric vehicle charging points and e bike chargin8 to promote these forms of transport. We have vetoed single use plastics, refuslng to use products that we no longer need, and have created WASP- Wellington against Slngle Use Plastic and created a logo. We have dedicated walk and cycle to school days. Our catering team use locally sourced food wherever possible to reduce our carbon footprint. Our Eco Committee has signed up to the 8ig Battery Hunt and will be collectin8 any used batteries which would otherwise end up in landfill. By collecting AAA, AA. C and D batteries we can rerycle them in a safe and secure way. We a150 collect and recycle crisp packets, pens, soft plastic, bottle tOP5, toothpaste tube and other dental products. We have recycling bins around school and fresh water fountains. We encourage minimal mileage on all our purchased resources and reuse wherever possible. 19

WELLINGfoN SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Communlty artivities Icontinuedl We recycle wastepaperlcard and reuse blank offcuts as scribble pad5. We reuse empty paper boyes and then recycle. We also use Canon 81ack Label Zero copy with a 100% farmed production of paper cycle, plont grow- harvest. Pupils made an eco-code. Pupils Created 'lO ways to make your Christmas more sustainable. and published in the School newsletters. The Eco-committee spoke to sustainable leads from linked organisatlons. We have introduced a 'Planting not Printing" initiative for brochures and prospectuses. All our suppliers have their own sustainability programmes. All cleaning products are green. We send all our old unused and defunct textbooks to is a company near Exeter that recycle old books. They then manufacture whol IV sustaina ble products, created from books we no longer read. The process of t¢Jrning unused books Into a ra nge of paper products adds value to the world, spares timber resources and helps to end the use of landfill. Re8eneratSng our Envlronment- We are re-wilding oreas of the campus to support re8eneration of nature and student wellbeing and have planted new hedges and tree5. We have a Forest School site in the Blackdown Hills where Prep School children 80 weekly. Actlvities have involved tree and hedge planting, herb and flower planting, bird and bat box makin8, bug hotel, small pond building and 108 pile manufacturing for insects. No litter or waste is left at the site. We have an allotment and a ve8etable 8arden enabllng pupils to learn in an outdoor classroom. We also have a wild pond to encoura8e biodiversity and created a ramp for the pond to aid frogs and toads. Our Eco-citizens have been filling our newly constructed planter5 Wlth soil ready to plant some winter veg and the many raised beds filled with flowers for bee pollination. Water stations located across the school site provide clean, fresh drinking water. We work wlth Plastic Free North Devon for a beach clean day and we re8ularly litter picking on campus and in our community, creatin8 a cleaner environment for us all. We have been awarded the RSPB Gold Schools Award and promote the RSPB Great Garden Birdwatch to increase awareness of the local environment and the changes to wildlife resulting both from climate change and the effects of local development. Biodiversity" grass areas has been seeded with wildflowers and are Cut less frequently. We have a hive of red mason bees. Filled nesting tubes are collected and stored until the late summer when they are sent to the Mason Bee project team, who harvest and inspect the COCOOn5 for parasites. Cocoons are then Stored over the winter and released in late spring. We encourage wildlife. grow our own fruit, veg and herbs which go directly to the school kiichen for lunches. 20

WEILINGTON SCHOOL 1837 GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Communlty actlvltles (contlnued) We create bug hotels, hedgehog homes and bird boxes, feed the birds, and have 5 bat boxes and a swift nest-cam so we can observe the hatchin8 of the baby swifts. Ongoing litter picking projects. We have bought in native butterfly e8gs/caterpillars which are kept in habitats so students can observe the life cycle. Once the pupae are hatched, the butterflies are release in the wildflower meadow. Our campus team have all been on a bat education course to protect the species on site. Tree Plantlng - the School commissioned Brynley Andrews AsSOCiate5 to complete an arboricultural report of our site. The purpose of the report was to help us better understand how we could provlde tree manaBement program for the next five years and to Set objectives for the next 30 years. In addition, the report provided guidance on the upgrading of our green waste recycling methodology. It is hoped that Wellington school will be an exemplar of modern envlronmental educatlon, urban green-design, and sustainable development. Over past 12 months, we have planted approximately 850 trees includSn8 hedges, copses and woodlands. In addition, the Woodland Trust have kindly donated over 400 trees as part of their'Trees for Schools and Communities, initiative, and these are a mixture of indigenous varieties includin8 hazel, blackthorn, crab apple, elder, do8 rose and rowan. We held a 'Grand Tree Planting Day, plant where families, alumni and members of the community came along to helps plant these trees in variou5 locations around the campus. Members of the Campus Team were on hand to provide guidance as needed and offering insights on the trees being planted and tree maintenance more widelv. We also Put Sn a bid to Welllngton Town Council for some dwarf apple trees as part of their free fruit tree scheme and representatives from the Eco-committee and the Prep School Gardenln8 Club planted them to provide food for the summer bees and a valuable educational resource for years to come. STRATEGIC REPORT REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR Operatlonal Performance of the School The results for the 2024 external examinations show Wellington School to be well above the national avera8e at all 8rade points at both A level and GCSE. The result5 are as follows.. At A Level in 2024 15% of the 8rades awarded were at A 40% of grades were awarded A to A, 71% Ato B, and 90% were awarded A to C. We continue to have a strong track record of helping students to secure places at Oxford andCambridEe as well as onto highly competitive courses such a5 Medicine. In 2024 all students were offered places at either their firm or insurance university. The current 5-year averages for A Level are.. A'_A = 42Yo, A 8 = 69% and A'_C = 88%. In 2024 9 students completed the BTEC Sport course and the results 21

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Operational Performance of the School (continued) were.. Ix MP, 3x MM, 4xD'D and l D0 Furthermore, 12 students completed their Extended Project Qualification and 67% of these EPQS were awarded A'.A grade5. At GCSE in 2024 29% of the grades were awarded grades 9-8, 44% of grades were awarded 9. 7, and 92%were awarded 9-4. The current 5-yearaverages for GCSE are.. 9.8- 31%,. 9-7=48%, and 9-4= 93%. Post 16, A Levels, a BTEC in Sport, and the Extended Project Qualificatlon are offered alongside an Academic Enrichment Programme. in addition to advice on Careers, UCAS and a Tange of academic socleties. The Academic Year 2024-2025 will also see the introduction of additional BTEC courses in both Business and Applied Science. The School has a Sports Performance and Wellbeing department, which aims to comblr4e a traditional sportin8 programme with a more innovative slant towards wellbeing and long-term physical literacy. The School continues to 5UPPOrt those interested in teacher trainlng and has a number of partnerships, including with the University of Buckingham. For the academic year 2024-2025 there are three Early Career Teachers who the School will continue to support through their two-year inductlon period. An Istip school visit completed during the summer term 2023 judged the school's provision for ECTS to be 'exemplarv'. Department?1 self-evaluation forms and development plans are closely aligned to the Whole School Development Plan, and the Headmaster and Deputy Head IAcademicl review these documents and di5CUSS their content with Heads of Department at the start of each academic year. Subsldlarles The Wellington School Foundation is a Cofnpany Ilmited by guarantee (number 051768791, a charity registered in England and Wales Inumber 11052561, and wa5 formed In 2c￿4 primarily to promote the charitable work of Wellington School and further the education and advancement of present and past members of the School through the provision of scholarships, bursaries and grant5. The Foundation achieves these and its other aims by liaison with school alumni and supporters to encourage them to provide fSnancial 8ifts and pledges for the development of the bursary funds. These funds are used to help existing pupils whose family circumstances have changed who, without assistance, would have to leave the School and to support new bursaries to help children who could not otherwSse afford a Wellington School education. The Foundation has, in conjunction with the Old Wellin8tonians' Association, been instrumental in raisin8 funds to allow wider means tested svpport for children. Total income for the year was £185,241 (2023.. £307,999J with investment income totallin8 £175,393 (2023.. £177,126) and donations received £9,848 12023.. £130,873). Net assets of the Wellin8ton School Foundation were £3,337,203 (2023.. £3,295,064) èt the year end. Wellington School Isomersetl Trading Company is a company limited by guarantee (number 030493921 and manages and Supports the non-educational activities of the School including the sports facilities for community use including children and youth groups. The Trading Company encourages the use of these assets by local primary schools and community groups to help children from unfortunate families or social backgrounds. Total income for the year was £241,230 (2023.. £240,522) versus net expenditure of £168,695 (2023.. £200,946). Net assets of the Wellington School Isomersetl Trading Company were £19,905 (2023.. £23,291J at the year end. 22

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Subsldlarles (continued) Wellington Sthool International is a company limited by guarantee1143361101. Wellington School International Ltd did not trade and had £1 unpaid share capital at the balance sheet date. STAKEHOLDER ENGAGEMENT AND SEcfioN 172 STATEMENT Promotlng the success of the School Section 172 of the Companies Act 2006 requires the directors to act in the way they consider, in good faith, would be m05t likely to promote the success of the charity to achieve its charitable purposes. The Act states that in doing so, the directors should have re8ard, amongst other matlers, to= The Ilkely consequence of any decislon In the long term The School has a comprehensive Strate8lc Development Plan which sets out lonB term objectives across all areas of the School. The intention of th15 Development Plan is to provide operatlonal clarity across the major elements of school life, wlthin a strategic framework. The Strategic Development Plan enhances efficiency, allow5 progress to be assessed a8ainst measurable success indicators, improves the ability of the Headmaster to support staff when support is needed and clarifies line5 of communlcation. Any decision made takes account of the Strategic Development Plan and lon8-term consequences. The governors and leadership teams hold Tegular plannin8 days to consider the lon8-term strate8y of the School. Employees The School ensures that as an Equal Opportunities employer, it glves due regard to those employed or potentially employed by the School. Recruitment processes are transparent and fair, ensuring that existing employees and potential hires are considered based solely on thelr skllls, qualifications, experience and aptltvde for roles. The School recognises that employees play a key part in ensuring the success of the School and therefore focus Is given to ensuring good communication, engagement and consideration for wellbeing. Employees have access to Information which supports thi5 culture and they are encouraged to engage with governors, leadership and management team5 at all available opportunities. A staff handbook is available to all staff on the School's learning platform, providing advice and guidance on a number of areas of employee interest. Briefings take place weekly which update employees on Current school developments and these are supplemented by twice termly staff meetings, termly INSET days and governors. plannin8 days. Governors regularly visit the school site, both formally and informally to en8age with employees. Two-way communication is further encouraged through surveys to all employees, which provide opportunities for regular feedback on matters relating to staff wellbeing and engagement. Trends and themes of this feedback are reviewed by senior leader5 and shared with governors. There is a Works Council and Head's Advisory Group, both of which comprise a cross Section of employees, with each havir)g clear terms of reference to represent employee inteTe5ts. 23

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Employees Icontinuedl The school provides access to a confidential employee assistancelcounselling line, staff benefit from free use of the School's sporting facilities and a review in 2021 of benefits resulted in enhancements to terms and conditions for all staff. Suppllers The School actively Seeks to engage in service review5 With all key suppllers. These review5 are focu55ed on a two-way relationship with the School wlth an aim of helping one another to achieve an optimum service as efficiently as possible and accordin8 to the best value for money. We ensure invoices are paid in a timely manner. Parents The School recogni5es the Importance of maintaining good relationships with parents. The School communicates with parents through termly newsletters, the Weekly Bulletin (Senior School) and The Eagle (Prep School). Parents have access to variety of information on both the web51te and My School Portal. The School receives regular feedback from parent5 through parental surveys, cla55 representatives and parent forums. Envlronment We recognise our responsibility to care for the environment arbd airn to mlnimise our environmental impact in all our activities. As well as coverin8 environmental issues in our School currlculum, the School encourages all staff and students to partlcipate in initiative5 to reduce ne8ative environmental impacts. The School's Eco.Committee's recent initiatives include a 'One Cup System, to reduce waste, an energy survey and new recycling Inltlatlves. Culture and Values The Board Is responsible for knowing and supporting the aims of the School, its mission and for ensurin8 that these are achieved. Wellington's ethos rests on three pillars.. outstanding Telatlon5hips, the pursuit of excellence and a love of learning. We want children to feel secure and confident, to feel supported and understood, to feel able to turn to those around them forguidance and encouraEement. Our relationships are informed by values such as kindness, tolerance, inclusivity and trust. We work tO8ether to bring out the best in one another. As a learning community, we ore process oriented- we work through problems, we don't shy away from challenges, we understand that getting thing5 wrollg at first is part of getting them right in the end. We are ambitious in our a5piration5, but humble enou8h to accept that there is always more we can learn. FINANCIAL REVIEW The Governors continue to make it a priority to keep fees a5 low as possible whilst still maintaining the estate at a hiBh level of repair in addition to increasing investment in technology and in the 24

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR TrIE YEAR ENDED 31 AUGUST 2024 FINANCIAL REVIEW (CONTINUED) pastoral and learning environment. Furthermore, the Governors have continued with their policy of investing income back into the School for educational purposes. Maintainin8 fee5 as low as p055ible assists all parents in terms of affordability, however in addition to this and with the aid of the Foundation, many children from all walks of life and different financial circumstances also benefit from means tested bursaries. It Is important to note that as an educational harity we receive some tax benefit5 and any surplus generated is applied to both improving pupil education and in helping to keep these fees at a low level. Adjustments to teaching staff and certain improvements around the campus continue to be managed within existin8 budgets. The School continue5 to follow Its Strategic Plan and has generated a net surplus. It plans to contlnue generatlng the operational surpluses required for lon8 term sustainability. Pupil numbers at the School remain stable, ond the investment in the Development Office should benefit the School financially In the me(lium term. Total Income for the Group Increased by £2,033,999 [2023.. £1,659,379) to £19,354,692 f2023.' £17,320,693J and Total Expenditure increased by £1,321,522 to £18,390,06712023.' £17.068,545J. This resulted in Net Income before investment gains or losses of £964,625 (2023.. E252,148J. The balance sheet reflects the sound standing of the Group and the Charity. The statement of financial activities reflects the Governors, policy to reinvest any surplus back into the fabrlc of the School an(1 improve the resources to develop the education on offer by the School. The Subsidiaries provlde support to the Charity in different ways and the Foundation contlnues to develop its support base to provide gifts and pledges to build, over time, a substantial bursary and Scholarship fund. The Foundation's investment programme has, with the help of donations from alumni, allowed the Governors to increase means tested bursaries and grants which will continue into the future. The Tradin8 Company continues to manage the commercial lettlngs and provides tremendous support to the School surplus. The Trading Company gift aids profit to the Charity. Reserve$ Note 13 to the financial statements show5 the assets and liabilities attributable to the various funds by types and also describe5 the various trusts of the charity and summarises the year's movement on each fund. The total fund5 held by the Charity at the end of the year are £19,922,895 (2023.. £18,908.973) of which £13,693 (2023.. £11,902) are restricted and are not available forgeneral purposes of the Charity. Unrestricted funds of the Charity amount to £19,909,202 (2023.. £18.897.071), an increase of £1,012,131 (2023.. £207,811) in the year. As the Charity has invested in the provision of educational facS1ities tree reserves are negalive at £4,347,983 (2023.. negative £5,776,142J. There are no material amount5 which have been designated or otherwise committed. Liabilities of £4,334,290 12023.. £5,764.2401 can only be realised by disposing of tangible fixed assets. The reserves policy is to continue building up reserves out of annual operating surpluses until sufficient cash is held that cash received in advance of the followin8 term is not needed to fund working capital, subject to the prior demands of further copital expenditure to equip the School with the up-to-date facilities needed to maintain the standard of edtjcational services turrently provided. 25

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Energy and ¢arbon emlsslons In accordance with the Streamlined Energy and Carbon ReportinE ISECRI requirements Outlined in 'The Companies IDirectors' Report) and Limited Liability Partnerships IEnergy and Carbon Report) Regulations 2018,, our Group hereby presents the following statement regardin8 carbon emissions. This report encompasses energy consumption and the associated 8reenhouse gas emissions, including those related to gas, electricity, and transportation. Additionally, it provldes intensity ratios and details regarding actions taken to enhance energy efficiency. The energy consumption fi8ures have been calculated usin8 ihe CHG Reporting Protocol and adhere to the 2024 Government emission conversion factors desi8nated for greenhouse gas reportlng by companie5. 2024 2023 Total ener8y U5a8e from electriclty consumption.. Total energy usa8e from gas consumption.. 967,076 kwh 3,086,082 kwh 1,083,954 kwh 2,551,274 kwh Total emissions through use of purchased electricilv.. Total emissions through combustlon of gas.. Tolol emlsslons from fuel consumption on transport fleet Total Gross emission 200.233 KgC02e 617.216 KBC02e 67,777 K8C02e 885,227 KgC02e 971.35 224,459 KqC02e 510.255 KgC02e 82,215 KgC02e 819,929 KgC02e 896.10 Intensity ratlo IKgC02e per puplll Efficienc tiv The School is deeply committed to minimising energy consumption wherever feasible. To this end, we have on established Eco-committee that actively engages in surveys focused on energy usage. These surveys play a pivotal role in identifying areas of energy waste and devisin8 Strategies to mitigate it. Notably, during the reporting year, the school's dedication to sustainabllity led to the attainment of the Green Flag award with distinction. We are determined to maintain this hlgh standard In the comlng reportin8 year and aspire to attain the status of a plastic-free school. nvir rades In our ongoing efforts to reduce our environmental footprint, the school made strategic investments durin8 the financial year. Specificallyi we replaced older, less efficient lighting systems acr055 our campus with environmentally friendly and highly efficient LED lights. This Initiative not only contributes to our susiainability 8oals but a150 demonstrates our commitment to responsible resource management. nm Future Sustainabili Goals Looking ahead, the school is firmly committed to further reducing carbon emissions and enhancing overall efficlency. In the upcoming reporting period, we will complete our regulatory compliance with the Erbergy Savings Opportunity Scheme IESOSI. The insights and recommendations from ESOS, coupled with other pertinent factors, will guide our efforts to achieve even 8reater carbon emissions reductions and efficiency improvements. 26

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Investment Policy and Performance The Governors, policy is to maintain income whilst preserving the real value of investments, to maximise income on temporarily restricted funds, and to match the relurn on invested Advance Fee5 Scheme monies in line with the maturity profile of the related liability to provide schooling in future years. Social, environmental and ethical consideration5 are taken In to account when investin6 the charity's funds. PRINapAL RISKS AND UNCERTAINTIES The Governors are responsible for the overseeing of the risks faced by the School. Detailed considerations of risk are delegated across the various Governor sub-committee5 an(1 consi(lered by the Senior Management Team at regular meetings. Risks are identified, documented in a Risk Reglster, assessed and controls established throughout the year with a formal review of the risk management proce55 undertaken annuallv. The main risk area for the School are risks associated with the protection of the Schoo15 pupils, staff and assets. Procedures and 5V5tems to minimise these risks are reviewed and updated. Within fSnancial risks, liquidity rlsk is managed by a combinatlon of loans to finance long term projects and overdraft facilities to deal wlth month on month fluctuatlons in cash flow. External financlal pressure5 that are outside the control of the school such as the removal of charitable relief and VAT on school fees are carefully monitored and planned for and Governors regularly review the rlsks associated with these chonges. The main risks identified include.. 11 Finance- Our ability to continue is rellant on pupil fees and the ablllty to pay bills as they fall due. This risk Is mana8ed by effective marketing activity, having an excellent reputation for academic, pastoral and extra-curricular excellence and active cash-flow management. 21 Reputation The School'5 5ucce5s is bullt on its reputation for the education and well-bein8 of our pupils. We mana8e this risk through safeguarding policies, staff recruitment policies, pastoral support for both pupi15 and staff and active identification and resoSution of health and Safety related issues. 31 Curriculum Academic excellence requires the most able teachers with good facilities delivering the curriculum to able students. We manage this risk by combining attractive salaries with additional allowances, on-going investment in our estate and an approach to enrolment that works well with supportive parents whose children have an appetite for learning and a scholar5hip/bur5ary scheme that recogni5e5 pupil achievement, aptitude and financial need. The key controls are enhanced by: A stron& competent Board of Governors. A well-qualified, experienced Executive. Close monitoring of operational and financial performance. Robust recruiting and vetting policies. Comprehensive strategic planning, budgeting and management accounting. Formal written policies. Established organisational structure and lines of reportinB. 27

WELLINGTON SCHOOL 1837 GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 PRINCIPAL RISKS AND UNCERTAINTIES (CONTINUED) Through the risk management processes established for the School, the Governors are $8tisfied that the major risks identified have been adequately mitl8ated where necessary. It is recognised that Systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. FUTURE PLANS The School has identified three overarchin8 priorities for the period ahead.. To promote kindness, empathy, inclusivity, equallty and a strong sense of community as essential characteristics of our community, notably in the relationships between our students. To engender In all students a greater love of learning for its own sake, an understanding of how best to learning a greater sense of responsibility for their own learning. To develop in students of all a8e5 those skills which will see them able to thrlve both at school and beyond. In addition to these priorities, the School intends to.. Further support the wellbein8 of staff and pupils. Enhance the academic enrichment and project-based learnlng opportunlties for pupils in both the Prep and Senlor Schools. Continue developing the independent learning skills of pupils, and to give pupils the opportunity to consciously reflect on the wider skills and competencies they are developin8 as they enBa8e in curricular and co-curricular activities. Review the use of IT in the classroom to ensure that our provision $5 approprlately supportive of our pupi15' learning, and develops their digital and data literacy. Enhance the clarity and rigour of academic tracking so that appropriately supportive interventions can be effectively implemented. Review our curricular offering Wlth a view to ensuring that it Is 21, Century relevant and develops a stronger sense of ogency amongst our pupils. To embed a skills-based Curriculum in KSI and provide children with the opportunlty to develop a 360° approach to learning. usin8 reflection, evaluation and peer observation5. To ensure that the School's taught curriculum reco8nises that extensive and valuable contributions made by women, and members of the black, Asian and mlnority ethnic IBAMEI and LGBTQ+ communities. Continue to embed the re-modelled Senlor School House and pastoral structures. Continue our focus on effectively inte8ratin8 the various sectors of our community li.e. boarding and day, girls and boys, younger and older pupils). Develop a 10-year Campus Plan to support the School's vision and support the Development programme. Continue to invest in the fabric of the khool, with sustainability and energy efficiency being particular area5 of focus. Reduce the School's carbon footprint by developing a strategy and management plan to embrace 5UStainability across the campus via estates operations, initiatives and projects. 28

WELLINGTON SCHOOL 1837 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 FUTURE PLANS (CONTINUED) Continue to widen the range of opportunities for Prep School pupils to benefit from the co- curricular resources and expertise of the Senior School. Ensure that gir15 and boys of all ages have equal opportunities to explore and develop their co-curricular interests and abilities. Create a One School approach to Outdoor Educatlon13-181. Provide parents with more opportunities to socialise and establish relationships throu8h school activities. Work closely with the Old Wellingtonian A550ciation in deepening relationships with alumnl, both in the United Kin8dom and around the world. To create and launch a new fundraising strategy for bursaries and a capital project. Review our academic and co-curricular community links to ensure that Wellington plays a substantive role in both supporting and raising levels of aspiration within the Wellin8ton community. The Charity Governance Code was released in July 2018, and in the interest5 of best practice the Governors assess themselves against this code including subsequent updates. STATEMENT OF GOING CONCERN The Governors believe that the Charlty's flnancial resource5 and contingency plannlng is sufficient to ensure the abllity of the School to continue as a going concern for the foreseeable future and therefore the financial statements have been prepared on this basis. The Executive have been closely monitorin8 the finances and cashflow position and have undertaken detailed contingency planning for inflationary cost Increases. In our consideration of the presumption of going concern a5 the basls for the preparation of the report and flnancial statements, the Governors have concluded that no material uncertaintles have been identified that may cast significant doubt about the abllity of the School to continue as a going concern. The Governors therefore have a reasonable expectation that the School has adequate resources to continue in operational existence for the foreseeable future. For this reason, we continue to adopt the going concern basis in preparing the financial statements. AUDITORS Crowe U.K. LLP has indicated its willingness to be reappointed as Statutory auditor. The Report of the Trustees, including the Strategic Report, was approved by the Governors on Il, December 2024 and Signed on their behalf by Ms A Govey BSC, Msc Chairman Date: 29

STATEMENT OF GOVERNORS, RESPONSIBILITIES WELLINGTON SCHOOL 1837 FOR THE YEAR ENDED 31 AUGUST 2024 The Governors Iwho are also director5 of Wellington School 1837 for the purposes of company lawl are responsible for preparing the Strategic Report, Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accountlng Practice (United Kingdom Accounting Standards). Company law reguire5 the Governors to prepare financial statement5 for each financial year. Under company law the Governors must not approve the financial 5tatement5 unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that perlod. In preparing these financial statement5, the Governors are reqLtired to.. • select Sultable accountlng policies and then apply them consistently: observe the methods and principles in the Charities SORP,. • make judgments and estlmate5 that are reasonable and prudent,. state whether applicable UK accountlng standards have been followed, subject to any materlal departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charitable company will continue in buslness. The Governors are responslble for keeping adequate accounting records that are Sufficient to show and explain the charitable company's transactions, disclose with reasonable accuracy at any time the financial position of the charitable company ané enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity's constitution. They are also responslble for safeguardin8 the a55et5 of the charity and the group and hence for takin8 reasonable step5 for the preventlon and detection of fraud and other irregularities. Dlsclosure of Informatlon to Audltors Insofar a5 each of the Governors of the charity at the date of approval of this report is aware there is no relevant audit information linformation needed by the charlty's auditor in connection with preparing the audit report) of which the charlty's auditor is unaware. Each Governor has taken all of the steps that helshe should have taken as a Govemor in order to make himself/herself aware of anv relevant audit information and to establish that the charitys auditor is aware of that information. The Trustee's Report and Strate8ic Report is approved by the Governors and signed on their behalf by.. Ms A Govey Bsc, Msc Chalrman Date: li geiembEr 20ILfr 30

INDEPENOENT AUOITOR'S REPORTTOTHE MEMBERS OF WELLINGTON SCHOOL 1837 FOR THE YEAR ENDED 31 AUGUST 2024 Oplnlon We have audited the financial statements of Wellington School 18371'the charitable compan￿) and its subsidiaries I'the group'l for the year ended 31 August 2024 which comprise the Consolidated statement of financial activities, Consolidated balance sheet, Charity balance sheet, Consolidated statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accountin8 Standards, including Firbancial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the group's and the charitable company's affairs as at 31 Au8LlSt 2024 and of the group's income and expenditure, for the year then ended; have been properly prepared in accordance with United Kin8dom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2C4J6. Basls for oplnlon We conducted our audit in accordance wlth International Standard5 on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audltor's responsibilities for the audit of the financial statements sectlon of our report. We are independent of the group in accordance wlth the ethical requirement5 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 responslbilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufflcient and appropriate to provide a ba515 for our opinS0n. Concluslons relatlng to goln8 concern In auditing the financial statements, we have concluded that the use of the going concern basis of accounting in the preparation of the flnanclal statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relatlng to events or conditions that, individually or Collectively. may cast significant doubt on the charitable company's or the group's ability to continue as a going concern for a period of at least twelve month5 from when the financial statements are authorised for issue. Our responsibilities and the responsibllities of the Governors, with respect to going concern are described in the relevant sections of this report. Other information The Governors, are responsible for the other information contained wlthin the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditorf5 report thereon. Our opinion on the financial statements does not cove the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 31

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF

WELLINGTON SCHOOL 1837

FOR THE YEAR ENDED 31 AUGUST 2024

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 we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the Governors' report, which includes the directors' report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report included within the Governors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report included within the Governors" report.

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

• adequate and proper accounting records have not been kept; or

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

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

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

Responsibilities of Governors'

As explained more fully in the Governors' responsibilities statement set out on page 30, the Governors' (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 Governors' 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 Governors' 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 Governors' either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

32

INDEPENDENT AUDITOR'S REPORT TOTHE MEMBERS OF WELLINGTON SCHOOL 1837 FOR THE YEAR ENDED 31 AUGUST 2024 Auditor's re5pon5ibilltles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material mi55tatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assvrance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exist5. Misstatements can arlse from fraud or error and are considered materlal If, Individually or in the a88regate, they could reasonably be expected to influence the economic decisions of users taken on the basls of these financial statements. Details of the extent to which the audlt was considered capable of detecting irregularlties, including fraud and non-compliance with law5 and regulatlons are set out below. A further descflptlon of our responsibilities for the audit of the flnanclal statements is located on the Financial Reporting Council's website at.. w.frc.or auditor This description forms part of our auditorfs report. Extent to whlch the aud5t was consldered capable of detertlng Irre8ularltles, Includln8 fraud Irregularities, including fraud, are in5tance5 of non-compliance with laws and Tegulations. We identified and a5se5sed the risks of material mi55tatement of the flnancial statements from irreguloritles, whether due to fraud or error, and discussed these between our audit team members. We then desi8ned and performed audit protedures responsive to those risk5, Including obtainlng audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory framework5 Wlthin which the charitable company and 8roup operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosure5 in the financial statements. The laws and re8ulations we considered in this tontext were the Companies Act 2006, taxation legislation, employment legislation, tO8ether with the Charities SORP IFRS 1021. We assessed the required compliance wlth these laws and regulations as part of our audit procedures on the related financial statement items. In addition, we considered provisions of other laws and regulation5 that do not have a direct effect on the financial Statements but compliance with which might be fundamental to the charitable companVs and the group's ability to operote or to avoid a material penalty. We also considered the opportunities and incentlves that may exist within the charitable company and the group for fraud. The laws and regulations we considered In this context were The Education Ilndependent School Standards) Regulations 2014. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Governors, and other management and inspection of re8ulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the accuracy of bursaries, scholarships and other discount5 and the 33

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF

WELLINGTON SCHOOL 1837

FOR THE YEAR ENDED 31 AUGUST 2024

override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, designing audit procedures over the accuracy of bursaries, scholarships and other discounts, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non­ compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

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 auditor's 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.

Tara Westcott Senior Statutory Auditor For and on behalf of

Crowe U.K. LLP

Statutory Auditor 4th Floor St James House St James' Square Cheltenham GLS0 3PR

Date: 19 December 2024

34

WELLINGTON SCHOOL 1837 CONSOLIDATED STATEMENT OF FINANOAL ACTIVITIES Ilncorporating a Con5011dated Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2024 Notes Vnrestrlrted Funds R4strlcted Funds Total Funds Totol Funds Revenu• Revaluation 2024 2023 INCOME Charbtable actlvltles School fees Other educational Income Ancillary tradinB Other trading actlvltles Investment Income Donatlons and le8a<les oiher Sncome 16,898,587 138.829 1,879,942 333.712 50,263 25,000 10,650 16.898.587 138,829 1,879,942 333.712 50,524 37,448 15.650 15,048.935 143,426 1, 746,338 193,194 24,226 138,149 26,425 261 12.448 5,000 Total Incom* 19.336,983 17,709 19.354.692 17.320,693 EXPENDITURE Ralsln8 funds Charltable actlvbtles 231,536 18,143,384 425 14,722 231.961 18,158.106 610.448 16,458,097 Total exp•ndltur• 18,374,920 15.147 18,390,067 17.068.545 Net Income before Investment losses 962.063 2.562 964,625 252,148 Net galnslllossesl on investment5 7 21,905 21,905 11,526) NET INCOME 962,063 24,467 986,530 250,622 13a 13b Transfers 412,537 1432,0001 19,463 NETMOVEMENT IN FUNDS 1,374,600 1432.0001 43,930 986,530 250,612 Funds Balances Carrled Forward at I September 2023 13 Fund Balances Carrled Forward at 31 Au8U5t 2024 3,666,OZ8 15,622.374 2,753,791 22,042,193 21,791,571 13 5.040.6Z8 15,190,374 2.797,721 23,028,723 22.042,193 The notes on page 42 to 61 form part of these flnanclal statements. 35

WELLINGTON SCHOOL 1837 CONSOUDATED AND CHARITY BALANCE SHEETS AS AT 31 AUGUST 2024 COMPANY NUMBER 09316033 Group Charity Notes 2024 2023 2024 2023 FIXED ASSETS; Intangible assets Tan8ible assets Investments 9.393 26,856,728 237,660 27.103,781 13, 705 27,335,514 J16,180 27,465,339 9,393 24,247,792 13,705 24,659,509 24,2S7.185 24,673,214 CURRENT ASSETS: Stock Debtors Cash at bank and In hand 14,924 845.456 7,811,468 8.671,848 20.786 739,531 2,622,250 3.382.567 14,924 938,061 7.512,115 8,465,liX) 20, 786 758.424 2,369,265 3,148,474 UABILITIES: Creditors.. due wlthln one year 8.063,6101 16,080,197 18,078,093 6,111,139J NET CURRENT ASSTESIILIABILITIESI TOTAL ASSETS LESS CURRENT LIABILITIES 608,238 12.697,630 387,IK17 (2,962,665? 27,712.019 24,767,769 24.644.192 21,710,549 Credltors.. due after one year io 4,683.296 12,725,576 4,721,297 2,801,576) TOTAL NET ASSETS 23,028,723 22 042,193 19 922,895 18,908,973 RESTRicfED FUNDS UNRESTRICTED FUNDS Revenue reserves Revaluation reserve TOTAL FUNDS 13a 13b 2,797.721 2,753,791 13.693 11,902 5.040,628 15,190,374 23.028,723 3,666,028 15 622,374 22,042,193 4.514.995 15,384.209 19,922,895 3.080,862 15,816.209 18,908,973 The net movement In funds for the ¢harlty was a surplus ol £1,013,922 (2023.. £191,5031. The financial statements were approved by the Governor5 of Wellington khool 1837 on Il, December 2024 and signed on their behalf bv.. Ms A Govey BSC. MSC Chairman Date.. i i o ecembu>r lour The notes on page 42 to 61 form part of these fbnancial statements. 36

WELLINGTON SCHOOL 1837 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 Note 2024 2023 Cash flows from operatln8 ac¢lvltles: Net cash provided by operatin8 actlvlties 18 2.839.767 2,529, 766 Cash flows from Investlng actlvltles Purchase of tanglble flxed assets 1516.3931 11,034,522) Pr(Keeds from sale of Investment5 2,333 Purchase of investments lio0.0￿) f50.(IXtJ Investment Income recelpts 50,524 24,225 Net￿sh used by Investlng octlvltles 565,869 1,057,964 Cash flows from flnanclni a¢ll¥ltles Repayment of loan 1140,2711 {216,801) Recelpts from new advance fee contracts 4,067,227 538,912 Advance fees repald 113,3171 154,6991 Advance fee5 Utilised 1910.6901 (812,7081 Interest paid 187,6291 NetC05h Iu5td by}/prowldedbyllnanclng ortwitles 2.915.320 1612.110) Chonqe In co5h andca5h equlvolents In the year 5.189.218 859,692 Cosh ondcash equI￿lents ot the beglnnlnq olthe year 19 2.622.250 1,762,558 Cosh ondcosh equlvalents gt the end olthe year 19 7,811468 2,622.250 The notes on page 42 10 61 form part of these financial statements. 37

WELLINGTON SCHOOL 1837 STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2024 Charity Status The charity is a company Ilmited by guarantee and does not have any share capital (company number.. 093160331. The liability of the guarantors, who are the members, 15 limlted to £1 per guarantor. The company Is registered in England and Wale5. The School is reglstered wlth the Charity Commission England and Wales (charity number.. 11614471. The registered office is Wellington School. South Street, Wellington, Somer5et TA21 8NT. 8asls of preparatlon The flnanclal statement5 have been prepared In accordance wlth AccountinB and ReportSn8 by Charltles.. Staiement of Recommended Practice to Chèrltles preparlng their accounts in accordance wlth the Financial Reporilng Standard applicable in the UK and Republl¢s of Ireland IFRS 1021 leffectlve l January 20151- ICharltle5 SORP IFRS 10211. the Flnancial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021, the Companies Act 2006 and Charltles Act 2011. The flnancial statement5 have been prepared In sterllng under the hlstoric c05t conventlon as modified by the recognltlon of certaln assets at falr value. The flnancial statements consolidate those of the charlty and the subsldlary undertakin85 which it controls as detailed In note 17. All intta 8roup transaellons are eliminated on consolidatlon. The Charity has taken advantage of the exemptions In FRS 102 from the requbrements lo present a charity onlv Statement of Financlal Actlvlties and Statement of Cash Flows. In accordance wbth Section 408 of the Companies Act 2006, no separate SOFA has been presented for the Charltv alone. The Charity'5 8r055 Income for the year amounted to £19,457,53912023.' £17,286,015), 8TOSS expenditure amounted to £18,443,617 f2023.' £17.094,512), givin8 a net rnovement in funds of £1.013.92212023.' £191,5031. The charity meets the deflnitlon of a publlc benefit entity under FRS 102. Preparatlon of the •¢wunts on a golng concern basls The linancial statements are prepared on a going concern basis. The govemors have revlewed scenarlo plans whlch consider the irnpact of VAT on schools fees and the Ios5 of charitable buslness rate relief and h3ving revlewed the fundlng facilitles available to the school together with the expected on8oin8 demand foi places and the 5chool'5 future projected cash flows, the 8overnoTs have a reasonable expectation that they have adequate resources to CC*nlinue its activities for the foreseeable futvre and considèr that there are no material unceriainties over the school's financial viability, Accordlngly, they also continue to adopt the 8oing concern basls in preparin8 the flnanclal statements as outllned in the Statement of governors, responsibilities on page 29. There are no material uncertainties over the going concern statu5 of the school. In assessing ihe going concern of the group, Governors have been closely monitoring the finance5 and cash Ilow posltion of the group. As part of the assessmèni made to determine if going concern is the correct basis lor the financial statements. the governors have considered a range of different scenari05 spanning 24 months from the end of the financial year. With this in-depth planning and the financial resources available to the school the governors believe they can continue as a going concern for the foreseeable future. Fees and similar Income Fees recelvable and charges for services and use of premlses are accounted for in the period in whith the service is provided. Fees recelvable are stated after deducting allowances, scholarships and other remissions g¥anted by the School from its Unrestricted Funds, but Include contribution5 received from RÈstricied Funds for Scholarships. Bursaries and Other Grants. 38

WELUNGTON SCHOOL 1837 STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2024 Donations and fund a¢countln8 Donations received for the general purposes of the charity are included a5 unre5tTiCted funds. Donations for activities restricted by the wishes of the donor are taken to -restricted funds" wheie ihese wishes are legally bindln8 on the Governors. Donation5 are accounted for as and when entitlement aflsès, the amount can be reliably quantified and the economic benefit to the Charity is considered probable. The Revenue reserve fund is retained to cover the cost of fixed assets and to provlde working capital. The Revaluation reserve fund represents the Surplus arising on the revaluation of land and bulldlngs less depreciation charged on the surplus. Tradln8 and other Income Tradin8 and other income is accounted for in the period in which the income15 earned. Grants Income from rants. whether'capltal, grants or 'revenue' grants, Is recognlsed when the School has entitlement to the funds. any performance conditlons attached to the grants have been met, il Is probable that the income wlll be received and the arnount can be measured rellablv. Where entitlements occur belore Income is recelved. the Income Is actrued. Where income 15 received In advance of the School havin8 entltlement to the funds the Sncorne is deferred. Le8acles Legacies are recognlsed in Statement of Financlal Activities when there is entltlementi probablllty of recelpt and the amount can be measured wlth sufflclent rellabllltv. Expendltur• Liabllltles are recognlsed as expendlture as soon 35 there is a legal or ¢cnstructlve obligation committln8 the Charlty to that expenditure, It is probable that settlement wlll be requlred and Ihe amount of the obll8atlon can be measured ieliably. All expendlture 15 accounted for on an accrual's ba51s. Overhead and other costs not directly attributable to partlcular fbnctional actlvity categories are apportioned over the relevant ¢ate8ories based on the estimated amount attributable to that activity In the year. These estlmales are based on staff time or the floor area as appropriate. The Irrecoverable element ol VAT is included with the item of expense to whlch it relates. Termination payments are accounted for as soon as the 5chool1s aware of the obli8atlon to make the paymenl. Hire purchase and leasln8 Commltments Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over thelr estimated useful lives. The Interest element of these obligatlon5 15 charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated a5 3 liability. Rentals paid under operatlng leases are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease. 39

WELLINGTON SCHOOL 1837 STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2024 Penslon schemes Slnce the School left the Teachers, Penslon Scheme on 31 August 2020, the School contributes to defined contribution schemes for both teachln8 and non-teaching staff, All penslon costs are charged agalnst unrestricted fund5. VAT Education provided by a School 15 8ranted exemption from VAT. Taxatlon The School has charitable statu5 and. therefore, there is no Ilabllity to taxètlon on income or capltal 8ains whlch are applied for charStable purposes. TanBlble Flxed Assets and Depreclatlon Tangible fixed assets are stated at Cost lor deemed costl less accumulated depreciation. The charlty has taken advantage of the transitional provlsions of FR5102 and the valuatlon of freehold properties at the dale ol transition to FRS102 has been treated as deemed cost. Only Item5 greater than £2,000 In value are capitalised. Depreclatlon Is provlded to wrlte off the cost or valuation, less estlmated residual values, of fixed assets, except freehold land, over their expected useful lives on a 5trai8hi-line basls. Itls calculated at the followlng rates.. Permanent freehold building5 Motor vehlcles Furniture and equlpment Computer equlpment 10-50 years 4-10 years 5-15 years 2-5 years Buildings in the course of construction are not depreclated unlll brought Into use. Intan8lbl• assets and amortSsatSon IntanBible fixed assets are stated at cost le55 accumulated amortlsatlon. There15 no standard valve above whlch an item is capitali5ed. Expendlture Is considered and a decision made whether it is of a capital nature. Amort15atlon is provided to write off the cost or valuation, le55 estimated residual value5, of intangible fixed asset5 over their expected useful Irvès on a stral8ht-Ilne basi5. It Is calculated at the following rate.. Software 4-IOyears Investments and Investment Income Investments are included at c105ing mifi-market value at the balance sheet Ilate. Any gain or loss on revaluation 55 taken to the Statement of Financial A¢iivitles. Investment income is accounted for in the period in which the charity is entitled to receipt. Stock stock Is valued at the lower of tost and net reallsable value. 40

WELLINGTON SCHOOL 1837 STATEMENT OF ACCOVNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2024 Advafi¢e fees scheme The School offers parents the opportunity to pay for up to seven years tuition fees in advance in accordance with a written contract. This is treated as deferred income until the pupil joins the School whereupon the fees for each school term are charged a8ain5t the remalnlng balance and taken to income. Any shortfall Is treated as a finance cost and any excess is accrued as additional school income. Dèbtors Short terrn debtors are initially measured at transaction price. less any Impairrnent. Prepayments are measured at the amount prepaid. Cash and cash equlvalent5 Cash and cash equivalents include cash in hand and held with banks and other short-term deposlts. Credltors Creditors are initially measured at the transactlon prlce. FlnancSal Instruments The group only has flnanclal a55ets and flnanclal Ilabillties of a klnd that qualify as baslc financlal instruments. Basic financial instrument5 are initially ieco8nised at transactlon value and subsequently measured at thelr settlement value or fair value dependin8 on the nature of the financial Instrument. Loans are measured at amort15ed cost. CrltScal a£countln8 ludiements and estlmatlon un¢ertalnty The preparatlon of the flnanclal statement5 requires the Governors to make jud8ements, estlmates and a55umptlons that affect the appllcation of accounting pollcies and the amounts recognised in the financial statement5. Estimates Judgements are revlewed on an ongolng basls and are based on the historical experlence and other relevant factors. Useful economlc Ilves on Intan8lble and tan8lble assets The annual amortisation and depreciation Charges for the Intangible and tangible assets are sensitive to changes In the estlmated useful economic Ilves and resldual values of the a55ets. The useful economlc Ilves and residual values are re-assessed annually. They are amended when necessary to reflect current e5tlrnates, based on technological advancement, future investments, economlc utlllsatlon and the physical ¢onditlon of the asset5. See page 39 for the useful Ilves for each. Impalrment of debtors The group make5 an estimate of the recoverable value of feè debtors, trade and other deblor5. When a55essin8 the impalrment of trade and other debtors, management considers factors includin8 the current ¢redil ralinB of the debtor. the ageing profile of debtors and historical experience. See Note 8 for the net ¢arryln8 amount of the debtors and 3550Clated impalrment provision. 41

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 FEES 2024 2023 Fees receivable ¢onslst of: Fees.. Dav Boardlng Prep School 11.051,690 6.490.235 2,225,149 19,767,074 2.868,487 16,898,587 9.823.191 5,831,411 1,973,144 17,627, 746 12,578,811) 15,048,935 Less: Scholarshlp5 and fee rernlssions All scholarships and fee remlsslons are 8ranted to students of the school. No support cost5 are allocated to this activltv. OTHER INCOME 2024 2023 other educatlonal In¢ome Music Lessons Extra English tuition 108,158 30,671 138.829 115,050 28,376 143,426 AncSllary tradSn8 School trlps School meals Transport charges Other pupll charges Entrance and reglstratlon fees Fees in lieu Other anclllary Income 347,762 418,644 377.696 306,698 14,539 90,392 314,210 I￿79,942 303,915 400.471 340,785 309,303 34,064 89,177 268.623 1,746.338 Other tradlng actlvltl•s Wellington School Somerset Trading Company Café 37 Rents receivable 241,230 87,282 5.2110 333,712 112,838 80,356 193,194 Investment Incomè Listed Investments (all wlthln the UKI Bank and other interest 261 $0,263 50,524 24,131 24,225 42

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST 2024 OTHER INCOME ICONTINUEDI 2024 2023 Donatlons Donations 37.448 37.448 138,149 138,149 other Income CCF Grants Old Wellington Subscriptions 5,000 10,650 15,650 14,066 13,359 26,425 EXPENDITURE Net income is stated after char8in8'. 2024 2023 Depreciatlon Depreciation- flnance leases Amortlsallon Audilor5' rernuneiatlon.. Audlt of the charity Audlt of the subsldiarles Tèx services Operating lease charBes Interest on bank loans 870.530 124.651 4,312 719,116 294,666 4,311 23,541 7,049 3,260 387,119 48,613 22,856 6,844 3,990 121,298 57,121 2024 2023 Total staff corts: Wages and salaries Social security costs Penslon contrlbutions 8,071.308 720,868 862,249 9,654.425 7,456,021 656,266 813.642 8,925,929 The average number of full-tlme employees in the year was 151 (2023..146J of whlch 8012023.'821 were teachin8 stafl including lechnicians. The average number of part-time employees In theyeaf was 122 (2023.'130Jof which 3112023..381were teaching staff. During the year termination payrnent5 of £17,75112023.. £2,666) were paid. Ouring the year three Governors were reimbursed expenses amountlng to £1.104 (2023.. 3 Governors £396) in relation to travel expenses. 43

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 EXPENDITURE ICONTINUEDI The number of employees whose emoluments exceeded £60,(L￿ were.. 2024 No. 2023 No. 12 £60,[￿- £70,OCQ £70.001- £80.000 £I40,￿l- £150,DJO li The number wlth retlrement benefits accruing were.. Defined contrlbution penslon schemes 13 Contrlbutlons to defined contrlbutlon penslon schemes É167,290 £144,646 The remuneratlon of key mana8ement personnel, as deflned In the Governor5, Report, In the year was £868.942 (2023.. £779.9151.

WEILINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGUST 2024 ANALYSIS OF EXPENDITURE Deprec5atlon and amortlsatlon Total 2024 Total 2023 Staff Costs Other Ra5slng funds Fbnanclng costs 119,292 119.292 379,179 Total fof Charlty 119.292 119.292 379,179 Tradln8 costs of subsldlarv Investment management 45,175 425 67,069 112.244 425 231,040 229 Total for Group 164,892 67,069 231,961 610.448 Char5table actfvltl•s Teachln8 Costs Wellaie Premises SuppoTt C051s of 5choolin8 6.731,07Z 432.217 828.125 1,663,011 2,272,442 1,829,244 1.974.154 IN86.$05 30.586 15.961 663,462 222,413 9,034,100 2.277,422 3,465.741 3,371,929 8,517,710 2,027,950 2,733,699 3 131,259 Total for Charlty 9.654.425 7,562,345 932,422 18.149 192 16,410,618 Support costs of Foundatlon 8,914 8,914 47,479 Total for Group 9,654N25 7,571,259 932,422 18,158,106 16,458.097 TOTAL EXPENOITURE Charlty 9.654.425 7,681,637 932.422 18.268.484 16,789, 797 Group 9.654.425 7,736,151 999,491 18.390.067 17,068,545 Included withln support costs awe governance costs of £40.620 (2023., £40,428) which compr15e the costs of adminlstering the charity, audit and tax. 45

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 INTANGIBLE FIXED ASSETS Group ab)d tharlty Total Cost I September 2023 75,002 31 Au8USt 2024 75.002 Amortlsatlon I September 2023 61,297 Charge for the year 4,312 31 Auiust 2014 65.609 Net Book Values 31 Au8ust 2024 9,393 31 August 2023 13,075 46

WELLINGTON SCHOOL 1837 NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2024 TANGIBLE FIXED ASSETS Group Freehokl Land and Bulldln8S A55ets In the course of consiru¢tlon Furnlture and Equlpment Motor Vehlcbes Total Cost I September 2023 30,932,698 39,990 4,069,646 178,016 35.220.350 Additions 19,S63 451,935 44,895 516,393 Transfers 139,9901 39,990 DIsp05als 1343,1311 343.1311 31 Au8U5t 2024 30,932.698 19,563 4,218,440 222,911 35,393,612 Oepreclatlon I September 2023 5.711,398 2,056,124 117,314 7,884,&36 Charge for the year 532,385 436,904 2S,890 995,179 Disposals 343,131 343,131 31 August 2024 6,243,783 2,149,897 143,204 8,536,884 Net Bogk Values 31 August 2024 24.688.915 19,563 2,068,543 79.707 26.856,728 31 Augu5f2023 25,221,3 39.990 2,013,522 60,702 27,335.514 The net carrylng amounts of assets held under flnance leases Included In Furnlture and equlpment15 £384,768 12023.. £509,419) and included in motor vehicles is £nil12023.' £9,4881. 47

WELLINGTON SCHOOL 1837 NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 TANG18LE FIXED ASSETS ICONTINUEDI Charltv Fr•hold Land and Bulldln8S Assets In the course of construction Fufnlture nd Equlpmnt Motor Vehl¢les Total Cost I September 2023 27,625,407 39,990 4,065,030 178.016 31,908,443 Additions 19.563 451,933 44,895 516.391 Transfers 139,9901 39,990 Oisposals 1343.1311 1343,1311 31 August 2024 27,625,407 19,563 4,213,822 222,911 32,081,703 Oeprnclatlon I September 2023 5,079,189 2,052,430 117,314 7,248,933 Charge for the year 466,239 435,981 25,890 928,110 Dlsposals 1343,1311 1343,1311 31 Auiust 2024 S,545,428 2,145,280 143,204 7,833,912 Net Book Values 31 Aulust 2024 22,079,979 19,563 2,068,543 79.707 24,247,792 31 August 2023 22.546.218 39,990 2,012.599 60.702 24,659,509 Under the transltlonal prov151ons of FR5102. the valuation of the freehold land and buildings al the date of transition to FR5102 has been taken as deemed cost. The net carrying amounts of assets held under finance leases Included in Furniture and equlpmentls £384,768 12023.. £509,419) and included in motor vehicles Is £nll12023.' £9.488). 48

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 INVESTMENTS Total 2024 Totol 2023 Group Market Valuè at I Sèptember Purchases at C05t Mana8ernent fees Incre35elldecreasel in market value Market Value at 31 August 116,180 loo,000 14251 21.905 237,660 67,935 50,LXIO 12291 {1,5261 116,180 Llsted on Stock Exchange Cash held for relnvestment 235.943 1,717 116,039 141 DE8TORS Group 2024 Charhv 2024 2023 2023 Fee5 Extr35 Prepayments Sundry debtors Amounts owed by subsidlary undertakln85 187,468 236,305 358,462 63,221 77,218 238,156 300,618 123.539 187,468 236,305 358,462 8,328 77,218 238,156 3CQ,619 78,090 147,498 938,061 64,341 758,424 845,456 739.531 Fees debtors are stated are Impalrment provi51ons totallin8 £29,282 (2023.. £58,7871 49

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EI4DED 31 AUGUST 2024 CREDITORS: due wlthln one year Group 2024 Charltv 2024 2023 2023 6ank loans Isee note 101 Fees recelved in advance for 2024125 Trade creditors Accruals & Other Credltors Student Deposits Taxatlon and soclal securlty Amounts owed to subsidiary unilertakln8S 94,OZ6 140,271 94.026 140,271 3,906.778 667,497 518,711 831,851 230,064 2,849,178 674.834 496,864 899,942 226.740 3,906,778 661.867 507,540 831,851 219,548 2.849.178 647,217 491,401 899,942 210,333 41,800 6.263,410 1,814,685 8,078,093 80,429 5,318, 771 792.368 6,Jll,139 6,248.927 1,814,683 8,063,610 S.287.829 792,368 6,080,197 Advance fee$1see note 111 Student deposlts are recelved as new puplls begln their luitlon al the School. Thls amount becomes repayable on their departure. io CREDITORS: due after more than one year Group 2024 Charlty 2024 2023 2023 Bank loans Advance fees (see note 111 Other Credltors Other loans 941,287 3,367,675 374,334 1,035.313 1,197,554 492,709 941.287 3,367,675 374,335 38.000 4,7ZI,297 1,035,313 1,197,554 492,709 76,1R)O 2,801.576 4.683.296 2,725,576 Bank loan maturlty statement Group and School 2024 2023 Within l year Withln J to 2 years Within 2 to 5 years After 5 years 94.026 97,949 318,949 524.389 1,035,313 140,271 94,026 306,116 635,171 1.175.584 A fixed rate bank loan of £1.035,3131s Outstandlng at 31 August 2024. The loan was taken out November 2018 and is repayable over 15 years. It Is fixed at a rate of 4.09% inclusive of margins. 50

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 li ADVANCE FEES Parents may enter into a contracl to pay the School up to the equivalent of seven years, tuition fees in advance. The money may be returned to subject to specific conditions on the receipt of one terms, notice. Assumlng puplls wlll remaln in the School. advance fees will be applied as fo11ow5.' Group and School 2024 2023 Wlthln l year Withln I to 2 years Within 2 to 5 years After 5 years 1.814,683 1.665.271 1,450.611 251,793 5,182.358 792,368 551.OB5 636,220 10,249 1,989.922 The advance fee5 balance represents the accrued liablllty under the contracts. The capltal movèments during the year were, Group and Srhool 2024 2023 At I September New contracts Amounts utlllsed In payment of fees to the School Discounts applied Amounts refunded At 31 August 1,989,922 4.067,227 1910,6901 49,216 13,317 5.182.358 2,122,042 538,912 1812,708) 196,375 54,6991 1,989,922 12 SECURED DE8TS The following secured debt5 are included within creditors.. 2024 2023 Bank loan5 1.035.313 1,175,584 The bank loans and overdraft facility are secured by a charge over the Charlty'S assets. 51

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13 ALLOCATION OF 14ET ASSETS OF CHARITY ANO GROUP The net assets are held for the variou5 funds and advance fees as follow5.' 2024 Flxed Assets Net Current Assets Long Term Llabilitie5 Total 2024 Group Restricted Funds Unre5trlcted Funds 2.860,215 24.243,566 27,103,781 162,4941 670.732 608,238 2.797,721 20,231,002 23.028,723 14,683.2961 14,683,296) Charltv Restricted funds Unrestrlcted funds 13,693 373.314 387,007 13,693 19.909,202 19,992,895 24,257,185 24,257,185 14,721.297 14,721,297) 2023 Flxed Assets Ner Current Liobilitle5 Long Term Liubilities TotGrl 2023 Group Restrlcled Fund5 Unrestrlrted Funds 2,860,215 24,605,184 27465 399 (106,4241 12,591,206) 2,697,630 2,753,791 19,288,402 22,042,193 12.725,576 (2,725,576 Charlty Re5trlctedfunds Llnrestrictedfunds 11,902 12,974,567) 12,962,665) 11,902 18,897,071 18.908,973 24,673,214 24,673,214 (2,801,576 (2,801,576) 52

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGUST 2024 13a RESTRICTED FUNDS 8olonce I September Balan 31 August Investment GaSns 2023 Income Expendltur• Transler5 2024 Passmore Memorlal Fund 1,268 1,268 Hardshlp Fund 1,384 Wellln6ton School 1837 other restrlcted funds 9,249 IS.8091 10,440 The Wellington School Foundatlort 2.741,890 10.109 9.338 21,905 19,463 2,784,029 2, 753, 791 17,709 15,147 21,9)S 19,463 2.797,721 The transfer of £19,463 represents the net effect of the consolldatSon adjustments. Passmore Memorlal Fund a long standlng fund to be used for speakers for maths lectures. Hardship Fund chanBed. fund created to financlally assist exlsting pupils whose family financlal clrcumstance have Balance 1 September Bolance 31 August Investment Gain5 2022 Income ExpenditL*re Tronsfers 2023 Pu55more Memoriol Fund 1,268 1,268 Horclship Fund 20,003 6LKI 119,2191 1,384 Wellington School 1537 oiher re5rrictedfund5 6.939 20,567 {18,2571 9,249 The Wellington School Foundation 2,616,670 130,967 47,708 11,526) 43,487 2,741,890 2,644.880 152,134 (85,184 11.526) 43.487 2.753,791 Thère Is a difference of £510.21S12023'. £510,215) between the consolidated restricted funds of the Wellington School Foundation and the restricted funds shown in the accounts of The Wellington School Foundation dve to the different accounting policies which are applied to the investment propertie5 held by the Foundation which are treated as tangible fixed assets In the Group accounts. 53

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13b ur4RESTRicfED FUNDS Balunce Balance 31 August 2024 31 August 2023 Income Expendlture Transfer5 Group Revenue resetwe 3,597,182 15,622,374 42,959 25,887 19,288,402 19,09S.753 118.328.8221 614.267 1432,OlJOI 4.978.380 I5,1￿.374 42.959 29,289 20,231,OOZ Revaluatlon reserve Foundation 5ub5idiary Trading subsidlaiv 241,230 146.0981 1201,7301 19.336.983 118,374,9201 119,463 Charltv Revenue reserve 3,080,862 15,816,209 18,897,071 19,449,938 118,437,807> 432,000 432.000 4,524,993 15,384,209 19,909,202 Revaluation reserve 19A49.938 18.437,807 A transfer of £19,463 represents the net effect of the consolbdatlon adjustments. Bolance I September 2022 Bolance 31 August 2023 Income Expendlture Tninsftrs Group Revenue reserve 3,456,642 15,622,374 42,959 24,716 19,146.691 17,055,721 (16,818,467) f96,714J 3,597,182 15,622,374 42,959 25,887 19,288.402 Revaluotlon reserve Foundotlon subsldiary Trading subsidiory 112,838 17.168,559 (164,894) 16.983.361) 53,227 43,487 Chority Revenue reserve 2,873,051 15,816.209 18,689,260 17,264,847 117,057,036) 3,080,862 15,816,209 18.897,071 RevGluution reserve 17,264,847 17,057,036 54

WELLINGTON SCHOOL 1837 NOTES TO THE FINANaAL STATEMEf+lTS FOR THE YEAR ENDED 31 AUGUST 2024 14 OPERATING LEASE Comm￿MENTs Mlnlmum lease payments under non-cancellable operaiing leases fall due as follows.. Group 2024 Charltv 2024 2023 2023 WSthln l year Between I to 5 years After 5 years 110,08Z 187,415 119,970 170,351 281,414 872.743 513.996 291,303 855,679 685,328 15 FINANCE LEASE COMMITMENTS Mlnimum lease payments under flnance leases fall due as follows.. Group 2024 CharSty 2024 2023 2023 Wlthln I year Between I to 5 years After S years 110,345 374,33S 117,292 492, 709 281.414 872,74> 513.996 291,303 855,679 685,328 16 PENSIONS The penslon charge for the year represents the School's contributions to defined contributions schemes of E862,249 f2023.' £813,642). All pension charBe5 are char8ed to unrestrlcted funds, in Ilne with the fund out of whlch wages and salarles are pald. 17 SUBSIDIARY UNDERTAKINGS The financlal 5taternents consolidate the results of Welllngion School 1837 and its subsidiary undeftakings, The Wellington School Foundation and Wellin8ton School (Somersetl Trading Company Limited. The results of the subsidiary unclertakings are summarised below. 55

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 17a WELLINGTON SCHOOL {SOMERSETI TRADING COMPANY LIMITED Some Officers, Governors and retired Governors of Wellin8ton School hold shares as nomlnees in WellirtBton School (Somersetl Trading Company Limited and act as directors of the company. The company number is 03049392 and the re8lStered office is Wellington School. Wellington, Somerset TA218NT. The company was established to conduct non-charitable trading activitie5 on beh31f of Wellington School. Surplus in¢ome of the company is passed up to Wellington School by Gift Ald. During the year Wellington School (Somersetl Trading Company Limited involced £nil (2023.. E127,684J to Wellington School 1837 In respect of mSnibu5 recharges. Wellin8ton School 1837 invoiced Wellln8ton School ISomer5etl Tradin8 Company Limited £122,59712023.' £36,052) in respect of admlnlslratlve expenses. Glft aided proflts of £75,920 {2023.' £39,529) were glfted to the school. At the year-end a balance of £147,498 12033.. £64,3411 was due to the school and a balance of £nil12023.' E36,7291 was due from the school to Wellln8ton School (Somersetl Tradln8 Company Llmited. The followln8 Is a Summary of the financlal posltlon of the Company extracted from the accounts for the year end 31 August 2024 whlch have been consolidated into these financial statements. Balan¢e Sheet 2024 2023 Fixed assets Current assets 923 130,732 1108,364J 192,308 1172,4031 Lon8 term liabllities 19,9OS 23,291 Called up share capltal Reserves 19,899 19,905 23,285 23,291 Profft and Loss Account 2024 2023 Turnover Direct C05t5 and adminislralive e¥pen5es 241,2ao 168,695 72,53S 240,522 2(70,946 39,576 56

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 17b THE WELLINGTON SCHOOL FOUNDATION The Governors of Welllngton School can nornlnate five of the six trustees of The Welllngton School Foundation which is a charitable company limited by guaranteè, company number 05176879, charity number 1105256. The re8lStered office is Wellinglon School, Welllngtor), Somer5et TA218NT. The main oblecis of The Foundation are as follows.. To promote the charitable work of Wellinglon School. To further the educatlon and the advancement In Ilfe of present and past pupils of Wellin8ton School through the provisitsn of scholarshlps, bursaries and grants. To preserve for the beneflt of the publlc the School Chapel and such other parts ol the School site as are worthy of preservatlon In vlew of their hlstorical. architectural or environmental 518nificance. To promote the educatlon princlpally, but not excluslvely, ol persons resident or working in Wellln8ton and its environs through the provislon of teathlng and the facllities for learnlng. To promote communlty particlpatlon in healthy recreation for the benefit of per50n5 resident or WOfkin8 in Welllnglon and ils environs by the provision of instruction and facilitle5 for the same. The Wellln8ton School Foundallon re¢elved rent of £171,332 12023.. £171,332), donated £144,000 12023.. £133,000? to the School for bursarles and donated £50012023.. £5451 for prlzes. During the year, £19.11612023- £11,419) was invoiced to The Wellington School Foundation for salarie5 and other administrative expenses. At the year-end, a balance of £nil12023.' £nlll was due from the School and a balance of £nil12023.' £nllJ was due to the School. Durlng the 2019120 financial year, The Wellington School Foundation made a loan of £190,000 to Welllngron School 1837 whlch Is belng repaid in five annual Instalments from September 2021. The balance at the year-ènd was £76,000 {2023.' £114,0001. Interest of £3,80012023,' £5,700J was accrued at year-end The following is a summary of the flnanclal position of The Foundatlon extracted from the accounts for the year ended 31 AuBUSt 2024 which have been consolidated into these financial statements. Balance Sheet 2024 2023 Fixed asset investment5 Current assets Current Ilabllitles 3,097,875 244,954 15.6261 3,337,203 2,976,395 324,132 15,463) 3,295,064 Restrlcted fund5 Unre5trlcted funds 3,294.244 42.959 3.337.203 3,252,105 42,959 3.295,064 Statement of Flnan¢lal Activltles 2024 2023 Income Expenditure Investment 8ains Net income and movement in funds 185,241 1165,0071 21,905 42,139 307.999 (181,253) 1,526 125 220 57

WELLINGtON SCHOOL 1837 NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 17c WELLI•JGTON SCHOOL INTERNATIONAL LTD WelllnÉton School has a 100% shareholdlng in Wellington School International Ltd. In the year Wellln8ton School International Ltd did not trade and has no assets or liabilities at the balance sheet date. 18 RECONCILIATION OF NET INCOMEIIEXPENDITUREI TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net Income 986.530 250,622 Net Interest expense 136,844 263.189 IGalnl/loss on investments 121,9051 1526 Investment income {50,5241 124,225? Investment management fee 425 229 Depreciation charges 995.179 1,013,782 Amortlsatlon charges 4,312 4,311 Lossllprofitl on di5P05al of fixed a55et5 f64) Oecreaselllncreasel In stocks 5,862 12,002) Ilncreasel in debtors 1105.9251 175,126) Increase in creditoTs 888,969 1,097,396 Net cash provlded by operatlng actlvltles 2,839.767 2.529,766 19 H AND CASH EQUIVALENTS The amounts dlsclosed In the Statement of Cash Flows In respect of cash and cash equlvalents are in respect of these balance sheet amounts.. 2024 2023 Cash at bank and in hand 7.811.468 2,622,250 58

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 RECONCILIATION OF NET DEBT Balonce I September 2023 Balanc• 31 August 2024 Cash flows Cash at bank and In hand 2,622,250 5,189,218 7,811,468 Loans falling due wlthln one year 1140,2711 46.245 194.0261 Loans fallin8 due after more than one year 11,035,313J 94.026 1941,2871 Flnance lease obli8atlons 610.GQIJ 125,321 484.680 1,785,585 265.592 1,519.993 836,665 5,454,810 6.291,475 59

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 21 RELATED PARTIES Durin8 the year three Governors were relmbursed expenses amounting to £1.104 {2023.' 3 Govemors £396) in relatlon to travel expenses. One governor was pald £3,219 as an Exams Invlgilator. No other governors have been pald remuneratlon or has received other benefits from an employment with their charity or a related entlty In the current or prèvSous financial year. One governor had a chlld at the school who was in recelpt of exhibltions and a seholarshlp. These awards are on arms-len8th terms. One Truslee of The Welllngton School Foundation 15 a Director of 10 Radlo. 10 Radio was pald £600 (2023., £600) by Wellin8ton School. Thè Wellington School Foundation received rent of £171,332 12023.. £171,332J, donated £144,000 (2023.. £133,OLi)} to the School for b￿r53T}eS and donated £50012023.. £545) for prlze5. DurSn8 the year, £19,11612023.' £11.4191 wa5 invoiced to The Wellin8ton School Foundation for salarle5 and othèr administrative expenses, At the year-end. a balance of £nll (2023.. £nill was due from the School and a balance of £nil {2023.' £nil) w35 due to the School. Durin8 the 2019120 financbal year, The WellinBttsn School Foundatlon made a loan of £190.000 to Wellington School 1837 which 15 bein8 repaid in flve annual instalments from September 2021. The balance at the year-end was £76,00012Q23.' £114,000). Interest of £3,80012023.. E5,700J was accrued at year-end. Ouring the year Wellington School Isomersetl Tradln8 Company Limited Involced £nll (2023.. £127,684) to Welllngton School 1837 In respect of mlnlbus recharges. Wellin8ton School 1837 involced Wellin8lon School Isomersetl Tradlng Company limited £122,59712023.. £36,052) in respect of admlnistrative expenses. Gift alded pioflts of £75,92012023.' £39,529J were glfted to the school. At the year-end a balance of £147,498 12023.. £64,3411 was due to the school and a balante of £nil (2023.. £36, 729J was due from the school to Wellln8ton School Isomersetl Trading Company Limited 60

WELLINGTON SCHOOL 1837 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 22 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 31 AUGUST 2023 Unrestrlcted Funds Restrlcted Funds Total Funds Revenue Revaluatlon 2023 INCOME Charltable actlvltles School fees Other educational Income Ancillary trading oiher tradln8 artlvlt5es Investment Income Donatlons and legacles Oth¢r Incom• 15,048,935 143,426 1.826,695 112,838 24,132 175 12,359 IS,048.935 143.426 1,826,695 112.838 24.226 138.149 26,425 137,974 14,066 Total Incom• 17,168,559 152,134 17,32Q,693 EXPENDITURE Ralslng funds Charitable a¢tlvltles 610,219 16,373,142 229 610.448 16,458,097 84,955 Total expendltur• 16,983,361 17,068,545 Met Incomellexpendlturel b•fore Investment1055es Net losses on investments 185,198 66,9SO 1,526 252.148 1,526 MET INCOMEIIEXPENDITUREI 185,198 65N24 250.622 Transferg 43,487 43,487 METMOVEMENT IN FUNDS 141,711 108.911 250,622 Funds Balances Carrled Forward at i September 2022 Fund Balance5 Carried Forward at 31 August 2023 3,524,317 15,622,374 2,644,880 21791.571 3.666.028 15.622.374 2,753,791 22,042,193 61