2023-08-31-accounts

CHURCHER'S COLLEGE August Registered Reg isterEd company nLl￿,ber'. jQ8153L char,ity number". 1175833 Iiiwiiiiiu 'ACINY28C* IW1212023- COMPANIES HOUSE

cHURC1￿R's COLLEGE CONTENTS OF THE CONSOLIDATED F1Tr4ANCIAL STATEMENTS FOR TttE YEAR ENDED 31ST AUGUST 2023 Page Report of the Trnstees Ito24 Report of th¢ Independeni Auditors 25to26 Cothsolidated Statement of FiDancial A¢tivities 27 Con501idated Balance Sheet 28 Charity Balance Sheei 29 Cash Flow Swement 30 Notes lo the Cash Flow Stat¢Enent 31 Not&s to the Financial Statemen 32to50

CHURCHER'S COLLEGE BEPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 GOVERNORS, DIRECTORS AND CItAJiITY TRUSTEES The Governor5 of Churcher's College {"th¢ College.) are the College's clwity trustees under cllarity law. The memb¢rs of the Govetning Body who served in offlce as Governors during th¢ year and subsequently are der2iled below. The list also shows those GovernoTS who ar¢ also dIrec￿[S of the subsidiary cotnpany Churcher's College Enterprises Ltd (CCE Ltd). Governor Status (i) (2) C Sirick (Chair frolll Decemiier M J Gallagher (Ciiairj -(retired December 2022).... ......-..... J Bloorner Ivice Chaimanj (2) (4) (i) (4) S Be¢¢ham T Fienderson Co-opted '. C HetTaman-StoweTS E Hynes-Laitt (ttsigned Novemb¢r Cfropt¢d W A Jones (i) P Lawrerlce (3) (4) M Leigh Co-optèd (i) D Moses j￿nior Sch(M)I Parents. Association- Nominated Gowernor Senior School Pa￿ts. Association- NornIDat¢d Governor M Steven (l) Managetnent Corntniltee (General Purposc and FiDanct) (2) DirectOTS of the Subsidiary CoTnpany Churchei's College Enletprises Ltd {3) Nominations Sub Committee (4) Goodfield Project Steering Commiiiee DuTing th¢ year th¢ activities of the Gov¢rning Body wer¢ supported by tltrte cornmi¢tees and a subsidiary board, the membership of ivhich is shoivn above for each Governor. Ai the end of the year there wer¢ 17 Governors. The maximum nutnber of Govemors alloived under the Artic1¢5 of AsSfKl￿1Oft r¢main5 20. CHUFICHERS COLLEGE

CHURCHER'S COLLEGE REPORT OF TIIE TRUSTEES FOR THE YEAR ENDED 31ST AUCUST 2023 OFFICERS (currently throughout the year) S William5 MA BS HeadmaF¢er- ClU￿therS College Mr N S Medley MPhys Btswrand Clerk io ihe GOV£n￿ PR￿CIPAL ADDRESS AND REGISTERED OFFICE RaTnshill. Petersfield, Hampshire GU314AS AUDITORS Sheen Stickland, The Ertgin¢ House, 77 StatlOD Road, Petersfield, Hampshi1¢ GU32 3FQ Lloyds Bank. 5 The Square. Petersfi¢l(i Hampshir¢ GU32 3HL LEGAL ADVISORS & SOLICITORS Veal¢ Wa5brough Vizards LLP. Narnw Quay House. Na￿OW Quay, Bristol BSI 4QA VEBsrrE wwv.chur¢herscoUe e.com Page 2 CHUKCHEIIS COLLEGE

CRURCItER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDKD 31ST AUGUST 2023 The Tnjstees present their report arld the audited financial stattmeDts of the charity for ¢he Year ¢nded 31 August 2023. Th¢ Truste¢s have adopted theprov5sionsof the Stat¢ment of Recornrneoded Prncti¢e(SORP)"Accounting and Reporting by Charilie$" (FRS 102) in prepatiDg tbc anDual report and fiDaDcia] slaiements of the charity. REFERL.NCE AD￿lIF￿.1STRATlVE LN'FO1LI￿TI0.14 Cburcher's College (￿be College.) was fourKl¢d in 1722. The College's legal Stat￿% i5 that of a charitable company limited by guarantee with company number 10813349 a￿d a re￿￿ered charity number 1173833. Tbe College operates ttvo schools known a5 Churcher's College Junior School and Nursery. a￿j Churcher's College Senior School. There is one Govtrning Body for the hvo Schth)Is. Detsils of the member5 of the Gov¢ming Body. together with the College's offi¢ers and principal adviser5. are given on pages l and 2. The College has 3 wholly owned trading subsidiary Cburcher's College EDteTprise5 Ltd (Company Number.. 5770329) which operates and maintain5 a swimming pool at the Senior School. STRUCI"URF, C.OVEllJNAI4CE A.ND ￿lA￿AGl￿£￿'T Governing Do¢ument5 The Company 15 governed by its 'Articles of Association. document which was adopted and approved by the Charity Commission with effect from I Septernber 2017. and am¢nd¢d its 2020. Governing Body Tbe GoV¢rn￿g Body is self-appointing, witb either 5-year (for Co-opttd Metnbets) or 3.year (for Nominated MembeTS) terms of office. Members retuming at the end of these (enns can be re-ele¢ltd subject to the provision ora maximutn two con5¢CUtive ternis unl¢s5 a fvrtller terni is agreed by the Board &% being in the besi int¢rests of the Charity. New meTnbers ¢Jf the Governing Body are elected following nominations fiom the G(Trvernors, from the Committees of the Parents. Associatlons. or from the College's officers b&Yd on the candida*S' PTofessional qualities. exp¢rienc¢. personal competence and local availability. Re¢ruitmeN¢ and Traiuing of Gov¢rDors New Governors are inducted into th¢ workings of the College aThd its school4 including Governing Body procedures and school poli¢ies. at induction sessions orgallised forthemby Ihe Head and Bunar. The new Governotsalso attend spccialisl training courses the Tol¢ and rtspon%hbililies ofcharity tThJsiees_ Members of the GovemiThg Body attend intemal and external iwsiex training se55ions and infomaiioll course5 d¢signed to keep them informed and updaied on curtent issues in th¢ sector and regulatory reqUire￿ents. Organi5ational l¥lanagement The members of the Governing Body, a5 the charity trustee5, are legally resportsjble for the overdll management and control of th¢ College and its senior a[￿ Junior schools. They meet thte¢ times a yur. A Manag¢m¢nt (Finance General Purposes) Cotnrnittee meets more frequently and is joined by th¢ Headtnasier and Biirsar lo whom the day ro day ruT￿l￿g of the school is delegaied. who in tym are supponed by th¢ir SeThior Managemeni and Bursary Managemerlt Teams. CHURCHELS COLLEGE

CHURCHEIi'S COL.LEGE REPORT OF THE TRUSTEES FOR THE YEAR Ef4DED 31ST AUGUST 21123 Our Etho4 Strutegy and Policies Our Governors are re5PODsible foi setting a sttatr8y for achieving the objectives they have set. The focus of ow strat¢gy 15 on the development of our pupils, their continued high levels of ac&demi¢ and ￿￿CUrrIcular achievemeni and to furthtt widen access to th¢ ￿UcatIon our School provide5. In taking fonvard our strategy we: R¢view and benchma￿ the School's a¢adetuic syllabus. fea¢bing and examination results. Ensure the range of c04urricular a¢iiviti¢s available to oui pupils is ￿lM￿lating and challeTLging; Invest in tecljnology aDd the infrastructure of the Sch¢)ol. Co-operaie aJhd share resourc¢5 with local Khools. Continue lo review and develop our m¢thods for awarding bursaries and scholaT5hips io ¢t￿re wider awess ti) pupils froEn all backgrounds.. Seek to revi¢w, prornote and rDinimise the environmental irnpact of the school bu5in¢ss. A Caring School Servithg our Local Community aDd Society Chur¢her's College is a ¢lJan"tabl¢ ¢omp3ny litnit¢d by 8uararLt¢e which 5eek5 ￿ benefjt the public thIou8h th¢ pursuit of its s￿led aims. Our fees are set at a level to ensure the finam¢ial viabiliry of th¢ sch￿)1 a¢ a level that 15 consisteDt IVLth our aim of providing a fItst_¢lass traditional education to our pupil5. Our School wel¢omes pupi15 froTn all back8Tound5 To admii a prospective pupil. we need to be satisfjed that our School will be able to educate ￿kd develop a prospectiwe pupil to the besi of theit poiential and in lin¢ with the general standatds achieved by tILeii peers. Enitance intetviews and asscssments are undertaken iosatisfy ourselves and parents th&t potenttal pupils can cop¢ with the pace of leaming and benefit from th¢ edU￿tIon we piovide. An individual's ¢con¢)mic $lah]s, sex. gender re￿518[￿le￿I. ethnicity. Tace. religion or disabiliiy do not forni p&rt of our assessmeni processe5. We are an equal opportunity Organisation and are colnrllitted io a working eni'irorLment that is free frofft any fom) of dscrimination on the basis of age, s¢L marriag¢ and civil partnersbip, gender reassignment. race. disability. Sexual orieniation, religion orbelief, pregnancy and maierniry and pan-time or fixedterm employrnent. We willmak¢rea50nable adjustments to tneet the needs of staff or pupils who have a disability. Our School 15 conunitted to safeguarding and profftoting the welfare of tsur pupils and expects all staff aThd volunteers share this cortunitment. Par¢nrs are given r¢gular iThfomJation about their children's academi¢ progr¢ss and social development and wellbeing through pareni evenings in addilion to half ternily grading card5 and traditional end of temi and y¢ar repotts. We also maiThlain re8ulat Contacl with paietLlS thioughout the year through infornial conta¢ts and thTOU8h our various publications. A strong school-hom¢ partnersl]ip is a defming rea￿re of the %hool. Setjior School pupils have Forni Tutor (Peisonal Tutor in th¢ Sixth Fomi) wbo is responsible for tsveTse¢ing pastoral care and acadetnic development. as ivell as a Head of House who piovJde5 continuity of Gqre during a pupil's time ai the school. Aeees5.Poliey It is important to us that access to the education ive offer 15 not restricted to those who can afford our f¢es. W¢ believe our pupils benefit from learniDg iviihin a diverse community. A great d¢al of learni￿8 occuis ihrough social inter8¢tioTh. conversation and shared experiences which helps our pupils d¢v¢lop an undersrandiThg of the perspectives of other people that ivill b¢ vital in th¢ir aduli lives. CENERAL AIIMS The School's staiemeTht of intent l5 as follows.. We seek io give ihe wid¢51 ranoe of eliperienc¢5 but also the oppormniiy to be the besi. ChildreD ar Chur¢her's thrive in an atmosph¢r¢ of hioh ¢xpe¢tation bul ¢ven higher achievemeni in a happy. well-disciplined and caring environmenl. Excellenl examination r¢5ults art clearly import2nl,' the achieYem¢i of these fornjs a core el¢m¢nt of a Child's time here. Equally ihe developmeni of sell-e5Leem. moral Valu￿ ar￿ leadeiship are vitally itnpottsnt part5 of a child'5 education. Page 4 - CHURC COLLEGE

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 By developingth¢ full academi¢, ¢Teaiive sportingtslents ofthe girls andboys,within the context of social awareness, our aim is to fijlly prepare them for all they will face in the dynamJ¢ and challenging world we live in. The pupils of Chur¢ber's College become cOnf￿¢llt but iiot arrogani. r¢5pJnsible, respected aDd selfless crtiz¢os in a world which will require gifted flexibl¢ young pwplt of character. ded1￿110n and comp3ssion. Ollr Objectives ForStudenLS.' To develop s¢lf-est¢¢m by encouragiDg and recoglli5iDg involvtmeDt and acbievements in a¢tivities both ittside and Outside the ¢I￿srOoM 3nd inside and ourside sch(M)l_ To value all activities equally. T(Tr encourage personal and collective 3mbition. challenge and ¢t￿eav0￿. To encournge acadèmic itkdyndence. enterprise and to eThjoy learning. To provide a ronge of OPPOrnLuilies and experiences io stret)8th¢n talents and key sk"LIIs 5u¢h as leadership. teamwoTk, sociability. loyalty. cotnmitment. comtllUDication. Sustsinabilhty. problem-solving, creative and critical Ihi]thing. int¢grity, Competence and 5ell-35surance. To offer equal opportunilies to all s￿dents. To piomote equality of opportuniry based on protrct¢d charact¢risti¢s s￿h 18 gender. agq disability. ethnicity, sexual orientation, religion artd backgrowid. To promote a sense of physical and meDtsI well-being. To prepare students for life beyond Churcher's. To facilltate ac¢c5S to ihe most appropriate pathway posi Chw¢her'& i￿lUding access to top universities and the Tnost competitive courses. To ensure educaiitsn is placed in the cOll￿xt of the so¢i¢ry in whi¢h we live_ To CTeale 2n inclusive communlty lor tht students where parents and the local cotnmuThity are involveAI in s¢hool life, where theie is a strong school..hoTne partneTship and an all pervading philanthropic sphrit. To provide a continulty of care, ethos and ac¢oTnplishmertt from 3 yeaTS old to 18. To extend support b¢yond Chur¢h¢r's_ For StaJt.' To celebrate and recogrkise the Contribution of all S￿ff, Tea¢bin8 and Owational. To aspire to be eThergetic, self-motivated and high achieving. To promote inclusion / involvement of all into Chuicher's school life knih inside and out5id¢ the e1ossTlY)m. To encourage collective and personal ombitLOrt and development. To iospire creativity and innovative approaches. To promote positive Thental health and well-being. and healthy bome-.woik plaex balanc¢_ To mainiain a community of caring. collegiate staff. To ¢ncourage all to lead by example. To encourage a'can do attilude,. To continue 10 develop PTofessionally. To make an active contribution 10 the academic. pastoral aad exlra-CLllricular Itfe of the ￿h0O1. Strategic Plan The fjovetnoTS and Ihe School Senior Managemeni Team annually revieiv and monitoi the Stra￿91¢ Developmtni Plan of the school. During the year 2022-23 the Strdtegic Developmeni Plan for the period 2020-202) has been used to guide investmenl and iniliatives within the anniial plannino and budgeting cycle. UpKlates h3*e been made ro Tetleci stems noiv cornpleted 2nd to incliide Theiv and emerg￿t priorities. AlonJo ide other areas. Ihe Strai¢gic Dev¢lopmenl Plan includ¢s, for example, Ihe followints elemenls". Page 5 COLLEGE

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUCUST 2023 Str4tegic Plan A ¢elebration of the 31JO-year history of the Khool ￿ include: The reinforceTncnt of the relaiionships with.. i. the alurnDi.' the town of Peteisfield- the ¢r¢ation of a 'piofessional connec¢tons' community,. evidence of lh¢ school's collllllitinellt to the cotnmunity and the social. e¢oTLOmiC and ecological environment of Petersfield with, foi example, the creation of Tercentenary Wijod." the openin8 and full ￿￿tegration of the n¢w M￿siC S¢bool. strengthening of th¢ Rrcbard Churcher Foundation and the to support Bursary Awards. 2. The fi￿her dcvelopmenl of the use ofinforniation technology m the school. The developTneDt of a Wellbeiog Ceutye aDd streogthening of support foT ¢twtional &5 well as physical w¢ll- being includin8 enhaoced Couns¢lling support. 4. The reillforceznet2t of a gender non-binary environment including ¢onsideratlOD of uDifornJ regulations and fhÉ Aiheno Project. S. Etthancem¢nt of pupil voice through, for example, C[tha￿td roles for the School Coun¢il aDd the Peer Merttor system. 6. Consideration of staff remuneration including the introduction of alternahvepension provision options and a cap on cosi olteachers. pension Contributions. Facility refurbi¥hmeni and developtnenl in¢ludiThg expaosion ofthe Junior School allowing two-fortn provision for infants, and enhanced dining facdilies in the Senior School. 8. Consideration of the finaThcial CODsequence5 arising from the potential loss of chariiable relief on bu5in¢ss raies and the imposition of VAT on School fees. Both these issues represenl POSSLble furtsre financial ¢halleng¢s to the independent school sec(01. C*iiiTh9rflDod Ot3he Grcffi¥il.E NE750n Page 6 .TJu CHURCFfETIr- PFK COLLEGE

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 Chgritable Purpose. Commuoity InvolvemetsL OM¢reach & Public Benefit To assist access. the school operates a tDeans-IeS￿d bursary scheme supported by the Ri¢h8rd Chuicher Foundation (RCF). Details of the RCF and the bursary award5 Set oui elsewhere iti this repoTL The school is v¢ry active in the local community. with a nutnber of loogstanding relationships with public bellefit silting alongside new projects added every year. Some of th¢ highlights are as follows. Community Action Service Chur¢her's Coll¢ge students tcamed up with residents from Merritt's Meadow in PeteTsfield to build a new path as part of thc creation of a natwe reserve in the hean of Petersfleld. Third Yeat and tKwer Sixth pupils endured extreme heat alongside residents in moving 22 torlljes of material to create 75 metres of a llew paib in addition to repairing parts of the Path built last year. The path, whj'ch was opened by the Petersfield Town Mayoi. will steer local walkers tway from tbe c¢ntre of the r¢s¢rve ￿Ving Dature a space to breothe and pro¢ec¢iug Tare plaThts and wildlife in the area. Remembranee Pr*de and Concert The school provides awind Band. tecknical equipment. siaffing and printingof the orders of service ￿ support the annual Remembranc¢ Parad¢ in Petersfield. The school's CCF contingenl tDarches through the ¢own and provide a focus to the service. The occasion represents a key fundraising opw)rtunity for tlje British L¥gioTh. The school also hosis an annual Remembrance Conc¢rt in St P¢Èer's Church, Pdersfield, featuring the College 0￿bestri S¢nior Choir and other ¢boial ensemble. The event 15 opeii to the public and all Pr￿ted5 go to the British L¢gion. Transport Support in the Commutyity With the iising cost of tTansport. Ive support a number of loui group5 with acccss to our minibuses to facilitat¢ their trips and community work in and around the Pet¢tsfield, Hampshirtlsurrey & Sussex Area. Primary schools in Froxfield, Sheet. Steep. Liss. H¢me aDd Liphook have usedour tran5POrt during the year. Li5sCr05soverYouth Group, Shcet Church Youth GTOLlP. Age Conc¢rn and S¢out ￿Up$ have also regularly used our minibuses to support their comtnunity action. lusic, Drama and Events in the Community During the year, th¢ School's musicians weie involved iih a Dumbei of events including". GCSE musicians perfornling in local nuTsing home. Lunchtime concerts. Carol Services, Spring Concert and Remernbrance CotKert in St. P¢ier's Church, Pdersfield. Ivith PTo¢e¢ds to thatity- Rock School OTr SatUTday5 open to I￿al cotnTnunity_ Sponsorship of programmes ij) 5UPPOrt of Petetsfield Youth Theatre produciions. Hostillg the annual Pet¢Tsfield Aivards and spon50tshJp of the Young Achiever Award. Letlillg of facililies to local and regional bands and orchestr8S_ Audio-visual &- Technical Stspport in the Community The s¢hool provides loan equipmeni and iransport for Rem¢mbran¢e Sunday. the Butser Hill Challenge a￿j for local amateur dramatic societies. Edu¢ation#l Outreach Around 60 Year 5 pupils frotn local primary schoo15 attended our 'Engineer5 of the Future. event. in conjunciion ivith the Royal Acad¢tny of Engineering'5 'Conne¢iing STEM Teachers. piogramme and The Smallpeice TTUSI. The pupil5' creativity and problem-501ving skills iyere rested in a series of hands-on technology and engineerints challenoes. At the other rnd of the age speeiTum OUT Scienee department hosted a new programme of events with the University of the ThiTd Age IU3A), involvin8 local guests in their laie 805 aii¢nding terrnly science workshops. Page 7 -.kn CHUIICHER'S COLLEGE

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 Outdoor & AdveotUTOUS Activities in the Community We have probided staff. knoWI￿ge and guidance to local Scout groups, providing their leadeTS with th¢ opportUDity to joitt our training weekends for D of E. We also pmvide use of ￿h0o1 facilities for Scouts and Cubs without cbarge. aod we haye donated equipment such as tents ￿ local Scout groups. Sport the Community Petersfield Crieket Club (PCC) Th¢ school maintains ongoing T¢lation5hip with PCC involvit)g th¢ use of our Penrts Place playing fi¢ld fre¢ of charge. The ¢lub have use of our IndoorNet Facility during the Winter Se&50n. Joint initiatives promoting alld d¢v¢loping gir]s' crickei ate also progressing Peier5field Rugby Club and The RFU Links with PRC have developed further with shared use of each other facilitLe$ 10 support busy PTograFtLm¢s of rugby auoss both organisarions. We provide the club with u5¢ of Penns Pla¢¢ playing fields for Sunday fixwres free of chargt. The School use the changing facilities at the club and have developed linked events such &8 th¢ 'Friday Night Lights. merging the school and PRC corntnunities. The introductiork of the tradilioTh of ¢ompetin8 for th¢ 'The Frank Guy Cup. at the end of th¢ Autumn Tem) involve5 all y¢ar groups facing PRC in a 'Fe5tival of Rugby. under the lights of the PRC pavilion. The School have also supported the nlnning of RFC CPD aod Community Courses providing venue and equipment for these courses to take place. which are open to the exiernal coaches and officials. Sivimming Pool Lt)cal School Ustr Groups Our excellent swimming pool facilrry conlrnues to be utilis¢d for lo¢al school use in and around the schLX)l iimetable. Stnictuied swimming lesson5 are provided on an 'at cost. basis foi Herne Jwiiot School, Petc(sfitld Infants School, East Meon Prirnary S¢h¢x)l. Liss Junior & Infants SchoDI and Langrish School. Slwimming Pot)1 External Club User Group5 The school piovides use of OUT swimming pool and facilities for Tneeiings artd gym spa¢e and land training for a nthmttr of external organi5ations and groups Such as Alton and Districi Swimffting Club. Pe¢ersfield Triothlon Club, and Portsmouth and Distyi¢t Synchroni5¢d Swimming Club_ Butser Hill Challenge Folloiving the retirtment of a local rnnning evenl organi5er, Churcher's has now tsken on the organis3tion of the Butser Hill Challenge, a local fell JU¥￿ rnce th31 the school has supported fof many year5 as a Sponsor. It is a unique eveni, beirtg the UK'S rn05t southerly Fell race, Iv¥ih the adult tace taking on a s-mile a5certt of Bu15er Hill. one of the highest poin￿ on th¢ Souih Down5. The evenr involv¢s childr¢n's races from Year 3 10 Sixih Fortn righi thttsugh to a senior race. Over the years Ihe Tace has raised over £20.0(*J for local ch3fities. The New Blendworth Cenire i5 our chaiity partner for this ¢v¢nt, the CenlT¢ is a day PTovisiorh for posi 19-year-old ￿Ople ivith varying deg1ee5 of l¢arDing difficLilriesldisabililies. Pag¢ 8 - CHUKCHEIIS COLLEGE

CHURCHER'S COLLEGE REPORT OFTHETRUSTEES FOR THE ITAR ENDED 31ST AUGUST 2023 Sllmrner Solstice Event Raising Fllnds for Hom¢sl#rt Butser We were deligh*d to develop a partnership with the Queen Eiuabetb County Park and Th¢ SustsiDability Centre this year to help them launch a new Community Event of the 'Sumtner Solstice Cballetts¢', an 18krn ovemigbt walk froD) Beacon Hill OD th¢ South Downs Way to arriv¢ ai th¢ p¢ak of Butser Hill at su[￿lSe on the Solstice. Chut¢her's provided support on th¢ infrastructure and logistical managetDerÈt of the ￿lkWIth a lar8enumber of pupils. par¢nts and sthff taking part to support tbe matshallirtg of the event. WalkeTS were mei by a DrnMI srfi¢ty who perfonned an illJpre&sive Solsiice cerelnony io welcotne in tts¢ sunrise at the lop of Butser Hill. Local Cbarity F•¢ility Users We continue to provide free use of fa¢ilities to our partn¢r charitics who use our facilifie5 for theiT fi￿1raIsing events throughout the audemic year, this included: Butser Hotne Siart- AGM and FatDily Fun Rose¥nary Foundation- Fundrnising Fashioty Show RNLI- Quiz Evening Macmillan Cancer PeieTsfield and District Scout- use of the climbing wall and field facilities Ihe Charitie5 Committee The Chaiilies cO￿￿nitIe¢S at both the Seuior aDd Junior school ar¢ very a¢tive, with decisions and nominat¢d charities being decided by the Sfudeftts. During 2022123 ev￿($ ran by and involving the pllpils raised £20.264 for a range of chariti&5 and organi5ation5. Tht Benefactors Concert At the Benefactors, Concert, along ivith a Ttlaster class of musical talent. we had the opportunity to formally open the Donald Brooks Auditorium. and to say thank you lo many of those who hav¢ a partt)ership with the school and whose contribution io th¢ Richard Church¢r Foundation allows us ty CODlinue the pbilantbtopy thai Ilichard Churcher btgan som¢ 300 years ago Bènefacrors, Concert Page 9 CHUKCHEII'S L." COLLEGE

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 School * B*g Cb#rity Partoetship We are now supporting 'S¢hool in a Bag. &s our nxain s¢lwol ¢b3rity pather. S¢hool JD a Bag delivers rucksacks ￿11 of sta¢iotVdry. leaTTLiTJg resources, eatin8 Utellsils and by81e￿e supplies to vulnerable and disas¢er-affe¢ted thildr¢a. M¢Ntey Ivas raised for l(H) scbool ru¢ksa¢ks for cljildren in Mongoli& Pupils across the senioi ￿1￿11 made a donation ¢0 the ¢haTiry. for whi¢h School allowed them to wear their own ¢loihes f(pr the day. Ivhole School Colour Run Eveot Charitie5 Conunitt¢e organi5ed a whole school Colollr Run in ordeT to nise money and awareness for AIISorts Youth Project. The'colour Festival. Involved a non-unifomi day. parti¢JP2lion Lrt the colour and Stalls with music. activities and ice cream for the whole s¢bool community- Each year group wropl¢ted two lap5 {2km) of the 'Colour Run Course. while b¢ing covered in paint thrown at them by f¢llow pupib and sta￿. It was a great way w celebiated the ¢nd of the acadetnic year and brought the whole school comrnunity tooether in a coloyrfvl way. Taising £l.5S0 for AIISorts Youth Project ivho lis￿ to. conneci & support children & young peopl¢ under 26 who are lesbian, gay, bisexual. trans or exploring their s¢xual orientation andlor gendu identity (LGBT+) and their families. Paoe 10 -Dx? CHURCHER'S COLLEGE

CHUIICflER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED JIST AUGUST 1023 IiEVIEII' OE ACTIifi-IJEs.knTrD ACFIIEVEfvIE'TS Piipil Iyumbeps Fees Our educational actlVLties are carried out through our Senior and Junior SCh￿lS. The avetage number of pupils at the S¢nior S¢hool was 1,031 {2021122 average". 988) and at the Junior School the avuage was 232 (2021122 av¢rag¢.' 235). Ovr 23 Nurs¢ry pupils {2021122 average.. 19) attended a chosen number Of scssions across each week. The Governors care￿IlY reviewed fee5 in the lighi of affordability, cost inflatioj). aThd the Governors, desire to preserve the s¢hool's bi¢adth and quality of d¢livery while tnaintaining the cornpetitive posilion of oui fee levels 2nd value for money in comparisott to other indepeDdeni schools ill ihe TegioTL. In light of ￿$taIned high inflation (consisteaily around 10/0 for 12 montbs sin¢c the last fee increas¢ was annouAced), the Qoveruors determined thai a fee rn¢t¢&se of 8.5•/0 tn both schools was necessary (or 2023124. The standard NuTsy session charge increased to £37 with Early Y¢ars Funding Continuing to provsde up to 15 free IKsurs per week of Nursery Provision. JunioT School (Reception- Ytar 2) JunioT Sch¢)ol (Years 3 - 6) Senior S¢hool (All Years) £4,175 £4.455 £6.245 £3.845 £4.105 £5.755 Atademic Churcher'5 College A Level liesults 2023 After the tottid yeais of Covid. with exatn Unc¢￿illIlCS and consequenlial 8fdde itdlations, the A Level resu1¢5 grade proflle this year ha5 returned closer to those expeTien¢ed during pre-covid Tim¢s. For those taking their A Levels this year. this was their r￿st experience of public examinations because Covid cancelled their GCSE exams. As such. there has inevitably been uncertainty and ttepsdation. butthe Churcher's swdents have provedonce again quite how exceptronal they ar¢. Cornparison5 with results from the tmmediat¢ly pre¢eding year are less valid because of the Covid adjustment5 that ivere made to grades. For non-covid adjusted ycar5. this year we have our highest ever pcrcenta8e at the top A. grade, with thirteen students achieving an exceptronal three A gr8des or more. Year OAA. Y•A&A %A'toB %AtoC %A*toD %A'toE Candidates 2017 2018 2019 2020 202I 18.3 21.5 25.8 36. i0.8 40.6 26_9 45.4 54.8 61.4 70.9 7U_7 77_1 87.4 85.2 93.7 91.5 92.0 80.5 92.2 97_7 96.3 99.5 98.3 ioo.o ioo.o ioo.o 99 98_6 i 00.0 130 122 97_ 99.4 98.7 iuO.O 99.8 lio 154 2023 56.3 With fouT off io Oxbiidge and five tnedic5. th¢ lop acadetnic echelons are very w)siiive indeed but il is Dot jusi about lh¢ academically able. A Level grades are a passport to the next stage and for any school the m05t important Statistlc l5 that student5 hav¢ the necessary grndes to follow their ￿Pirall0n$, whatever. Ivherever thty be. Vith universities oversubscribed. and ¢herefore otYeTS harder lo Come by and often at a higher than ever level, Ihe assumpiion ivas thai there would be a gr¢at deal rnore disappoinimenl (his summer, but not for the Chur¢her's students despiie their atnbitions beirhg particularly high. Of those ivho hatre applied and holding off¢r5'. 810/0 made their fiTSt choice, wilh a ￿rther 120/0 theii sxond. Pagell COLLEGE

CHURCHER'S COLLEGE HEPOIiT OF THE TRUSTEES FOR THE YEAR ETrtDED 31ST AUGUST 2023 One ha5 to admire the resilience >nd deter￿Ination of all A Level srudents coulltrywide. but th¢r¢ is ¢learly something quite extra special about this year's. largest-eveT. cohort ftom ClJur¢her's College who have a¢cornpli5hed extraordll)ary things in exam halls, on th¢ 5tsge. in stud105, on the sport piiches, on expedition., in fact. in all areas. What a delighi it has b¢en to be as50Ciated with their rematkabl¢ success story. Chur£her's College GCSE Results 21123 As we pull back from tbe Cowd-adjusted grnde bourtdaries. newspaper headliDes ar¢ ht8hltgbting a very dramatic drop in top grades at GCSE nationally this y¢ar. but this is clearly not th¢ cw at Cklurcher's. The stud¢nts are bucking the national trend with yet another highly colnplimelllary sei of results. 94 43.5 94 2018 2019 2020 25.3 35.5 49.3 70.8 62_5 85.0 99.6 1(Kl.0 11)0.0 1CrfJ.0 100.0 2021 30.3 79.2 93.5 2022 311 25.6 48.6 73.4 88.5 97.4 2023 23.6 49.2 73.9 97.6 99.4 1(Ki.o Overall. the Chur¢her's GCSE ¢xarn surx¢ss comp8r&s very favourably indeoj with last y¢ar and on the pre-covid IEYels a5 well. almost half of all the GCSE exatDS take￿ at tlle exceptional Grade 9 or 8 level. Despite all the Covid disruption over recent years, the students here have coped Tetnatkably well and now ¢an cnjoy iich and very well-deseived reward for all their brillianl efforts. A5 ever there are some quite ¢x¢eplional stars wilh seven ¢njoying all or alllkost all Grade 9 in their eleven GCSE eKatns. Bul what 5¢ts many apart at Churcher's i5 thai not only do the student5 aehieY¢ huge success in exams but they also are pJrticularly irnpressive outside as well with honours galore on stage. In the conrxrt hall. on the sports pitches and in challengillg advenNrous aciivlties. Ei is nol surprislftg that we have a record ttumber wisbtng io join the Sixth Forn) here from outssde and, from Sep¢¢mber. we expand to hav¢ a (wo-forni entry In￿ R¢ception year gioup in our Junior School to try and ¢op¢ ivith increasing demand_ Page 12 ct4OklHER COLLEGE

CHURCHER'S COLLEGE REPORT OF TFIE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 Extra-Curri¢uiAr Activities The school offers a wide range of ¢x(ta-¢urricular activities for pupils which help to b005t pupils, self-￿nfide￿¢c and contribute to their well-being. The activities fall under the IKthgs of". ¢ertbrai,' ¢r¢ative'. adventtJT¢' ¢nt¢rprise' altruistic and physical. A number of activiti¢s r¢ly on parent voluDtecrs and this ha5 allowed gtLlWtb and free choice with lctivilies, including OSCA which is an outdoor activity group for nearly all 2nd year pupils. the Duke of Edinburgh Award scheme. the Combined Cadet Fort< the Devises to Westminster ¢anoe race and thc'TeTh Peaks. Br¢con Beacon5 challenge. r. . /1.: Paoe 13 -￿ CHUtiCHER'S- COLLEGE

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 •x' 1$ Pag¢ 14 CHURCHER'S COLLEGE

CHURCHER'S COLLEGE REPORT OF THE TRUS'fEES FOR THE YEAR ENDED 31ST AUGUST 2023 The Duke of Edinburgh Award programm¢ aDd the numberof parti¢Lpants has also grown exponentially, with 261 pupils participating during 2022123.. 116 und¢ttsking the Bronze award. 87 the Silvcr award. and 58 pupils th¢ Gold award. ppr* The focus of improving our DofE completion rat0% (see table below) and developing the CCF provision will conlinue in 2023124. ?Vlg1?0 ?o?oi?I ?0?1,?? ZV2);?3 Gold 24 37 39 40 Silver 54 42 56 56 Bronze 150 113 102 125 Total 228 192 197 2ZI Oiher adv¢nturous activities including the DevLzes LO Westminster cano¢ race took place with 16 Loivei Sixth pupils participating. Four teams undertook ihe Ten Peaks Brecon Beawns Challenge which involved srudents in 4th year and LoiveT 6 siimmjtting th¢ ten main p¢aks in th¢ BTecon Bea¢on mountain range over h¥0 days Ca￿lAg all the n¢c¢ssary kil aTrd food indep¢ndenily. Page 15 - CHUKCHER'S COLLEGE

CHURCHER'S COLLEGE REPORT OF THF TRUSTEES FOR THE ENDED 31ST AUGUST 2023 11 Academic clubs include the debating club, S¢Ten¢e club4 wmput¢¥ club. Ghess and oiber brnin g3m¢s whi¢h ar¢ held in the Library. Cr¢2tive clubs include dr2ma, dan¢e, LAMDA, fashion aThd textiles, and the Green Pow¢r. Ov¢r 400 pupils are involved in music every week in addition to th¢ir nwsic lessons. Approxitnately 20 pupils are involv¢d as a Tech Team assisting in various productions. Greell *zndEco Imcenlives The school continues io involv¢ piipils in pllrsuing a rang¢ of eco iniiiatives under the Gr¢ert Flag 5¢heme launched by ECO Scbools, foCuS￿g on ivater. tran5POrt, marine arld air quality. Examples of initiativ¢s in ibe last yeat are.. Building a flow¢Tbed out of eco-brÈcks - plastic bottles sthffed with single-use plastic. Planting the flowerbed with an apple tree arhd herbs. Installmg an air-quality monitor whi¢h will give real-titne data about the quality of tb¢ air on the school site. SpriTLg 2023 - Twinning of 35 school toilets with ioilets around the WOTld via the Toilet Twinning charity. SuTwner 2023 - Green afternoon - Summer Tertu. focus on Transport. W¢ rnged for a minibus pulling cornpetition for the 6th forrn and a seed plantillg event on the side. Autumn 2023 Whole school awmbly with the focus on Ins¢ct decline and falling spemi rate linked to pesticides. everyday Chemicals and'forev¢T chemicals.. Page 16 CHUFICHERS COLLEGE

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 Sporf Rvs*lts 2019/20 aKo/ 20211 2022/23 Gitrts Girls 63% S3 65 62 (CVID 65% 1>) 107 127 71 li 4Z16 41% 34% ss% 146 12 1301 47X cowo 43% Neth 58 Pknd 233 137 1531 1251 cowo 57 Str como 4t95 42 77161 62111 cowD co￿0 73% co¥Ats como COWD 16 25% COVID 33% 83% CO¥ID C(MD 16 7816 Tenru5 CCMO 17 22 3713J 14) isi 574 Noi win rdiio Brackets - concelledm4i¢hes IQIP1114'1l Page 17 .i)r• CHUKCHEIIS COLLEGE

CHURCHER'S COLLEGE REPOR'f OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 Musi¢ & DrÈ7m4 The continutng enthusi&fm for Music and thegrowing enthusiasm forDrama 15 ¢l¢arfrom the numberof exam ¢¢rtificates being awarded. 201&J9 )019-70 7021/72 20??423 ,Iiusic DRANJIA Grade I Drani.? Dranih li COVID 13 COVID 15 COVID 24 COVID 18 21 COVID 26 13 COVID 12 COVID 16 COVID 17 io 19 19 38 38 18 19 15 19 19 31 19 16 31 13 13 17 12 37 15 15 io io li 14 16 TOTAL 146 iii 80 141 134 iio 140 93 174 There are ¢UJT¢ntly tnore than 400 indsvidual music lessons which tske place weekly. and the many groups and ensembl include.. SetLior Choir Junkoi Choir SSA Choir S¢nior Chamber Choir Junior Chamber Choir Ja72 Band Senior Jazz Quintei Blues Group Orchestia Junior Jazz Improvisaiion Group Four Brass Group5 (Quart¢ts} Guirar Group SaxophoTh¢ Group S¢nior Wind Band Junior Wind Band Junioi Strings Clarinet Group R¢cordeT Group Flute Gioup Singerlsongwritei Club Five String Quartels Music T¢ach Club liock School Barbershop Group Page 18 3> CHUKC < COLLEGE

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 Drama productions dwing last y¢aT included the following pryformances". CHVALHeA's C()1 l F.6F. '&&6AS6, 6,7,8&9Feb2023 CHUACHfAS COLLÉGE COLLEG IUILS VERNrs ILouDfD WILLIAM SHAKESPEARE'S TWELFTH NIGHT THEWORLD ' 80DJfs ¢ A COMEOY 23. 24 fr 25 NOVEMBEA 2022 Pk3y a'd8Pted byLournEason ..¥8,',4,,iJ•cember2022 -"Asseol￿yNal1Ot7Pfft Tickeisll2 ricktts£12 •*@ Paoe 19 CHUKCHEEi COLLEGE

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE TrTAR ENDED 31ST AUGUST 2023 ISI bNSPECTIOY In November 2022 the sch¢)ol undeTweDt a scheduled Foc￿Cd cotnpl1a￿e a￿4 Edu¢ational Quality InspeclioD Report by the Ind¢pendeDt Schools lttspec￿r￿te. tll respeci of educational quality. the report fourtsj that the "quality of Éhepupils, ts¢tsd¥mi¢ ond oiher achievemen¢5 15 excelleni" noting that pupils, inter alia- achieve a h￿￿ Sta￿dard of rarults in P￿bE1C uomuJoiiorLT" "disploy o srrong knowledge ofih&rsubje¢ts o¢ros$ Qllyeorgroups and ihe ronge ofsmbjects Sft4died-: are kighly tsrlicultste commwii¢rJt0￿ boih iR$￿e undoutsrde ofÉhe classroom arefocM5edduring lesson5, eq4allysMccessfyl a5 independetti or ¢ollaboroiiv8 leorner5" "fake gr&7t pleast4re in and gain valth7ble 5h"ILslrom iheirytxcwalion in the wkIe-ran￿llg exlro-curicular programme" The report also found thai the "quality ofihepupiis'persoml development i Lrcellent" Doting that pupils.. ' show excellent levels Ofself-knowl￿se 0Thlself-conf￿en¢e unders4ond how 10 tmprove iheir own learning" "htsve excEllénl sociol skn"lts, dfftlopedlrom early age because ofafocM5 sharedondgroup octivilres in "deMo￿¢￿ale oxcelleni behowourlllsideondo￿Lride ofthe clttssroom" bwih "o sirongmorolawarenars evidEn¢ in pupils'personoldevelopment" "make e¢elleni ¢Ohtribultons io Ihe lives ofoll in tAew¢opwnwuty-' "deMoAsiraie ucellent de¢i¥ton-makn"ng sh"Ilsfrom o young age "have a clear tsmdersionding ofdiverssty in w￿erB￿lI[S￿ society" ' deMo￿lIale excellent SPirih4al ￿nderStandIng. 5trongpkilosophical réJ7ection "hove excellent understhnding ofthe tmporionce ofleodtfig health Itves" Regarding cotnplian¢e. the inspectors found that the school mtt all standards in the Education Ilndependent School Standards) Regulations 2014 and all relevant requirements of th¢ ststutory fratnework for the Early Years Foundation Stage, and as50cialed Tequtrem¢nts. Jn June 2023 the school uodenvent a M2terial Change Inspection by the Independent Schools lThspe¢toiaie. This was instigat¢d at the school's request as a resuliof the projected ￿oWth in pupil numbers approaching the regisieTed Fnaxhmum Ivith tb¢ DepartmeTht for Education. The report again found thal the school mel all of the Education (Independent School Standards} Regulations 2014 and the requirements of the Early Years StaDJtory Frdmework. The Tegi5teTed maximurn number of pupi15 across the JuDior and Senior Schools is now 1.446. Both reports are published in fvll on the s¢hcN)I website". www.churchetscolle e.¢omlour-schooVisi-in5 Ction-re fls. FUN'DRAISlI%4G PERFORIMAN'CE The fundraising a¢tlVLtiesof the school aff f￿Sed througll the RiclEard ChuKclLer Foundation (RCF). whiclt rsa resiricted fund. In accordance with OUT reserve5 policy and RCF objective5 it 1> intended that the capital vallle of the fund be groivn to facilitate th¢ perrnaoeni fuading of long-term bursary support for pupt15 from fam21ies suffering hardship. DuriTrg the yeaT the sum of £157,740 {2021122.. £143,403) was formally allo¢aled 10 Ihe school for Bursary fvJ)ding. External donathons incFeased to £1 11.071 (202 Ir22.. £75.478}, Ivhile donations fTOTn the school increased to £56,020 (2021122.. £49.544). Overall, th¢ RCF Fund value iE)cieased in the yeaT by £73,534 to £1.432.790. Page 20 HUIICHEKS COLLEGE

CHURCHER'S COLLEGE BEPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 FINAIN'CI.41. AIVARDS Scholarships and Exhibitions are awarded in recognition of acadanic excellence and exceptional contribution to th¢ conjmunity of tb¢ school an&or the wider cornmunity of Pe¢er5field. Exhibitions may also be awarded to thos¢ wh05¢ involvement ITL actiVLties wiilll"n tILe school ate ai an exceptionally high level. Bursaries aTe awarded to exisiing pupils of the College alld also those enterillg ai I1+ 13+ OT 16+ The awards are based upon a clearly identified ottd. Pupils who bave been awarded a scholarship rnay apply foi additional support but thest aTe likely to be awarded only itl exceptional circuIIisiances. Bursaries are nollnally awarded b¢￿een 25Yo to 50Y. but some bursaries are awarded up to IOO/¢ reTnissitsn of fees. Bursarie5 rerna￿ in place for l OT 2 years before they are reviewed 01 until there is a 5i8Difi£ani chaDge in pareDthI iDcome or wets. Analysis of Bursary artd Sthol8r$hip Awards ?0 19120 7021172 207123 Tot1 Fee Ittcome 16.973,456 17J78,035 19,027J50 20.466,453 687,644 * 3.36•A * BuTsJries 571J77 429.7)7 642,470 /• of ID¢ome 3 J60/(* 2.47/• 3.38 /• Scholgrsblps /0 of Iffjtome 185,626 1.09 /. 165,248 181,037 183,335 0.95•/• 0.90D/• Tbe above rneans-t¢St￿ bursaries assisted 57 pupils. of which 17 benefited from a fvll remission of f¢¢s. * Over and èbov¢ our usual means-te5ted bursaries. we SUPPOTted 10 UkJainian pupils into ih¢ school during 2022123 (two ITh tILC Junior School and eight in th¢ Senior School), fully fuDded by the school to a f¢e value of£150,460, and taking tbt ￿tal Bursary conlributLOtI to 4. IOYO of fee incotne. ln addition to full fee reTniSSiOTh. Ihe school futlded their lunches. urtifomj Bad some additional attivitses These wcie accounted for as cx¢eptional humaDitariaTJ butsaijes and are not 5hoivn within the table above. Th¢se pupi15 remain with us into ihe 2023r24 a¢ademi¢ year bul ivill be it)¢luded in our bursary number5 going forward a5 they become settl¢d within the UK. Page21 TI CHUEICHER'S COLLEGE

CHVRCHER'S COLl￿GE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUS'f 2023 FINAINCIAL R£VLE%II The key finaA¢i31 resul￿ for the year w¢re as follows.. t(Iuo's S¢hool Siliuol ?y?In? Gr05s Fee Income 2.784.4 2,9162 16.243 0 17.692.1 19.027.4 20,598.3 Net Fee Incorne 2.624.5 2.762.1 14.226.6 16.012.5 16,851.1 14774.6 Letting Income 23.1 16.3 162.0 185.1 196.1 SurpMs/ilA)5s) Sutylusl{LL)ss) I Net F¢e lllcome O/¢ {54.6) (156.3) 855.8 741.4 (81_2) {170.0} 720.0 415.1 (2.1'A) (5.7 /*) 6.oyo 4.6Y• 2.2 /. With 2 3.30/0 increas¢ in pupil numb¢rs combined with ftc increases of s.￿A and 6.5Yo for the Senior School and Junior School respectively. net fee income for 2022ll3 grew by I1.40/• ovei 2021f22_ PersoDnel costs and core running costs were managed in line with fee growth. but establishment Costs increased significantly due to much higher gas and ele¢iri¢ity prices along ivith an OD-going programme of facilities refurbi5hm¢tLI in response to incr¢a5hng pupil nutnbets. coinciding with a year of higher ¢xpendiNre on routine and pieventativ¢ mainterLance. In addition, a review of the fixed asset re￿$ter and depTeciation policy has resulted in higher depteciation ¢haTges in 2022r23 and prior years. DepreciatioD in 2022r23 was £624.276 audd¢precialion in 2021122 hasbeen restated as £691,512 compared to the pieviously r¢w)rted depreciation of £179.593. Consequently ihe surylus as a percentage of nei fee income has reduced to 2.2Qlo for the y¢ar 2022123 and h&s been restated as 4.3 /9 in 202LJ22. AS 2 charity the PaTents of our pupils have the assurance that the ineome of the school must be applied for education purposes. As an educational charity we enjoy lax ex¢mpiion on our educatiotthl activities and on our investm¢nt income and gain5 provided these are appljed for our char]IAble aims. As a Charity wc are also entitled io an 800/0 reduction on our b115iness rate5 on the property ive occupy for our c]witable putposes. The financial ben¢fits we Teceive from thes¢ tax exemptions are all applied for educational purposes. However, as an educational ¢harity. Ive are unable to reclaim VAT input tax on our costs as we are ¢xernpt for VAT purposes. We also pay tax as an employe¥ thtough the natioThal iDsufdnrx contributions we tThake. It) additjon to the very sllbstantwl bet)efits our School bfings io oui pupils. the local ¢ommtsDity and society through the education ive offer. butsary progtamme creates a social asset withoui ￿5¢ 10 the Exchequer Page 22 .pzi CHURCHER COLLEGE

CHURCHER'S COLLEGE PIPORT OF THE TiiUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023 Reseryes Leyel &- Polsci" The policy of Churcher's College is io mainthim suificiellt UDrestricted income r¢serves to enable it to meet its short-, Ledium- and long-t¢rni fllJan¢ial obligations in the event of an unexpect¢d revenue shottfall. A key objective is to maintsin a strong balanc¢ sheet of well-lnaiiitain¢d assets supported by effective long temi baTrk racilities. We a150 aim to produce an annual SUTplus belore depreciatton in ¢xe￿$ 015Y• of nei fee income, in order to PTovid¢ filnding for capital projects arhd on-going improvements to ihe Estste. Thi5 will be a¢hieved by maiAtsining 3 competitive fee structure reflccting the seTvi¢es provided to paTents and their thildren and by setting anllual budgets for ¢05ts whicb ar¢ Strictly rnODltored for eifi¢ien¢y. The Sch(K>l will continue to manage its operations and n￿1n￿l￿ Teseryesat lei'elsagrccd by the Gov¢ming Body to ensure access to fiknding for resources for the day to day and longer-iemi activities. This in¢ludes mainiailling the Scbool's &5sets aTrd facililte5, holdiug Rllvesttnents ￿ mainiain the value of tes¢￿¢$ and the usc of IoD8-lenn boJTowing where required. The School will wntinue to utilJ5e banking facili¢ies such a5 loans to allow inveslment iTh new facilititss but ethsuring risk is mitigated as far as possible, that gearing ratios are Malfttau￿a at a¢￿p￿b￿ levels and that overall debt lev¢is ar¢ at a comfortable level in comparis(TrtL to income and assets. Pa). aDd RemllneralAo The Governors are cotDmitted to the r¢crnitment, ret¢ntion and fair remuneration of its School staff. ln setting the relevant pay scale rates forboth teaching aDd support Staff a range olfactors are con5i5tently evaluaied annually includtng naiional pay aivards. sector benchmaTking, local econornic factors and of COUT5e the budgetary position of the sch¢x)l. The iemwieratioA and employment tern￿ of the key management personThel includingihe Headmaster and Burware reviewed by ihe Govemors on an annual basis. Risk Imanagement The Gov¢mors are responsibl¢ for th¢ overstting of the ri5k5 faced by the Scho)l. Detailed considerations of risk are delegaied to the Senioi Managern¢nt of the School. Risks are idthtified. assessed and ¢onrrols e5thbli5hed throughout the year. A fomial rtview of the eharity's risk rnanagement processes is undwtsken oft an annual basis. Risk is managed under th¢ headings of GovernarLce and Management. Compliance. External Factots, Admissions. Physical Disasters, Operational Matters, Information Technology, H¢alih and Safety. Employment aud Human Resourcts. Reputation. Financial Sustainability. Puptl Welfare_ Tlwough the risk management processes esiabli5h¢d for the School, the Govcrnors aTe saijsfied thai the major risks identified have beeTr adequaiely mitigated where necessary. It 15 recognised that systein5 cail Ollly provide rwonabl¢ bul not ab501ute assurance that major risks have been adequately managed. The Gov¢mors examine the major risks that the school faceseach fmancial yeaT when preparing and updating the 5traiegie plan. The Charity has developed sysiems 10 monitrpr and control these risks to [llitI8a￿ any impact that they may have on the College In the fvture. Page 23 CHUIICHEIIS COLLEGE

CHURCHER'S COLLEGE REPOKT 0¥ 771E TRUSTEES FOR TUE ￿AR ENDED 31ST AUGUST 2023 'rrusiees' St*temcnt of Acctsunting aftd Reporting Re5POD5ibibtbts The Tn￿letS arc responsible for prepanng the Trustees Annual Report atyd the flnancial stat¢ments in a¢cordancc wtth appljcable law and United Kingdorn Ac¢ouDting Stattd¥td5 (Unit¢d Kingdom ￿￿rallY Accepted Atcollftting Practic¢). Th¢ laiv applicable ￿ ¢hariues ID EDgland and Wales T¢quire5 the Trusiee5 to PTq)are fujanciai ststements for each fmancial y¢ar iyhich gtv¢ a and f&ir v5ew of thc of affairs of tbe charity aod of the incoming resourcts and application of r¢sourc¢s olthe cllarity for thar perithj. ID pwg these fth8ncial ststemeDlS. the Tntswes ate required s¢le¢i suitable accounting Fx)li¢ies and then apply th¢m ¢onsislerhtly obscrve the llJ¢thod5 and principks in the ChaTSties SORP (FRS102) mak¢ judgements aDd estunates that are ieasonable and PTudeThl 5t2te wh6thei 2pp)icable accounting StsTv]￿ds hav¢ bwn Colltswe4I wbject to any material departUff5 disclosed alld explained in the fLThancial sta¢em¢¥Lts prepare the fLnancial stat¢rn¢nts on the 80in8 c4n¢¢rn basis unless it is ithappropriate to pr¢sume that the ¢haTity will continue in operatLOn. TheTrustees af¢ T¢sponsibl¢ for keeping svffi¢hcnl a¢couniing r￿ordS that di5¢l05e with rea50rtable a¢curacy at any ILSTLC the financial p05iiion of the chaTJtable company and enablc them to eftsute that the accouots ¢omply with the ChaTiIi¢s Aci 2011. the Companjes Act 2006 sttd ihe Ch￿lty {A¢counts aThd Rewrts) Regulations 2003 and the provisions of thc tnLSt detd. They ar¢ a150 responsible for safeguarding ihe assets of the charity atsd hence for tskn'n8 i¢asongble steps for the preveptior) aDd deieclion of fraud and other irregularities. In so far as the Ttustee5 afe awar¢: Thetc is no relevant audit infomulion of which tht Gharitrbl¢ CoMpan￿S auditOT is unawarc" and the Tn]sle¢s h3V¢ taken all sieps ih21 they ought to have tsken to mak¢ Ihemselves aware of any i¢levant audit information and to ¢5tsblish th&[ th¢ atsditor is alva￿ of that inforntsiioih. Cbaritkes Aci 2011 The T￿￿te¢S have due regard io their duties und¢r Se¢thon 17 of the Cbaritie5 Aci20II in relation to public bcnefit and have reviewed ChaTiry Cotnmission 8uid3nce. Rele¥.ant Audit lrtfvrmgtion Insofar as ¢ach of the membeT5 of the OovcmiDg Body. atthe dale of approval of this report IS 8waTe there is DO r¢levanl audit infornMtion {infoTmation needed by the ¢haFilable company's audiior in conn¢clioTh with preparing the audit ieport) ol which the charitable ¢omp3ny's iudiior is un&war¢. Each member of the Governing Bixly has tsken all the steps that be or She should have tsken a5 a memb¢r of the Gov¢rniog Body in ordeT 10 makehim5eifor heTs¢lf 3waKof the relev￿t 3lldit inforfflation and to estthlish that the ¢harithble company's auditor i5 awar¢ of th3[ inforniation. Approved by Ihe GoY¢minu Body of Churcher's College on 7th December 2023. Charles Sti'ick IChaiT of Governing Body) Page 24 COLLEGE

REPORT OF THE INDEPENDE1￿ AUDITORS TO THE TRusfEES OF CRURCHER'S COLLEGE OpiDiOD We have audited the financial stsiements of Churchet's College (the 'paren¢ charitable ¢ompanyJ athd it's subsidiary Cotnpany (the 'group') for ihe year ended 31° Augusi 2023 wbich Comprise the Ststem¢nt of Financial Aciivities. the Balaoce SheeL the Cash Flow Statement and notes to the finartcial 5taternents, including a SUMM￿ of significant accounting policie5. The financial reporting fraJnework that has been applied ID their preparation is applirAble law and Ullited kn"ngdom Accountirtg Standards (United kn"tsgdom Generally Accepted Ar￿unt￿)g Practice). ITh our opinion the fU)3￿la1 5tat¢tnents'. give a tnhe and fair view of the s￿e of the group and the pateni cbaritsbl¢ ￿MpA0y,$ affair5 as at 31 August 2023 and of its incoming resources and applicauon of resources. iocllldiog its inwtne and expe[￿lture. for rhe year then ended. have been properly prepared in accordance with United kn"ngdom Geoetally Accepted A￿U￿11[18 Practice.. and have been prq)ared in attordance with the requir¢meots of th¢ Compani¢s Act 2(X)6. Basi5 for opinion W¢ CODducted our audit In accordance with Intetnaiional S¢aJLdatds 00 Audiling (UK) OSAS IUK)) a￿d applicable law. Our responsibiliti¢5 under tbose stand2rds are fifftb¢r described ID the Auditors reS￿nSIbIlitIeS for the audil of the f￿ancial statement5 section of our report_ We are independent of the group and patent chaTitabl¢ company in a¢cvrdartce with the ethical requirements tbat are relevanl to our audil of the financial $ta¢ements in the UK. including the FRC'S Ethical Siandard. and we have fitlfilled our other ethi¢al Tesponsibilities ID 2¢cordan¢¢ with these requirements. We belieye that the Ludit evidence we have obtained is 5uffLci¢nt and appropriate to provide a basis for our opinion. Conclusions rel4tillg io goiog con¢erD In auditing the fiAaThcial stat¢m¢nts. we have concluded that th¢ inL5tees' of th¢ going wncern basis of accounting in the prepaiotion of the finarjcial statements 15 appropriate. Based on ihe work we have performed. we have not identifled any material uncertainties fflotirtg to event5 OT condititsns that, Individually OT collectively. may significani doubt on the group and parent charitable cotTLpany's ability to continue as a going con¢¢m for a p¢riod of al least tw¢lvt Tnonths from when the financial statements ate author15ed for issue_ Our responsibilities and the responsibilities of ihe trustee5 with respect to gtsing concem are described it) th¢ r¢levant sections tsf thi5 report Other inforniation The TNsle¢s ar¢ r¢spoosible for th¢ other informalioTh. Th¢ other inforniatioTh comprises the illformatioTh included in th¢ aDnual TepoT4 Oth¢r than the f￿ancial stat¢rnents and our Report of the Indeprndeui Auditors thereon. Our opinion on the fLnan¢ialstatements does notcovertheotherinfornution and we donoiexpre5s any forrnof assurance ¢onclusioTr theTeon. In ¢onnection with ow audit of th¢ group f￿ancIal staternents, our responsibility is to read the other infotmatlDn and. in doing50, consider whether the oiher ￿fOrMation 15 materially iDcon5l5teDtwi¢h ihe finaD¢i&I stalements orout knowledge obtained in the audit or othenyise appears to be materially missrattd. If we idenlify such material inconsisterlcies or apparent mateiial Missla￿Me￿ts. we are requLTed ￿ deiemiine whether there is a maQrial misstatemenl in the financial statements or a material mi5s1aiement in th¢ other infornution. If, based on rhe Work we have performed, we conclude that there is a material misstatement of thi5 other inforniation, we are requirtd to ieport thai fact. We have nothing to r¢port tn this regard. Opirjion (bn other matters prescribed by the COJnp%nie5 Act 2006 In OLir opinion, based on the ivork und¢rtaken in the coutse of Ihe audi1= the information given in the Report of the Trusiees for the financial jear for ivhi¢h the finartcial stat¢men15 are prepared is consisieni ivith the financial statetnents," and the Reporl of the Tru51ees has b¢en prepared in accordance iviih applicable legal requiretnenls. latters tyn ivhich ive are req￿Ired to report by eiceptio In the light of ihe knoivledge and understanding of the group and parent charitable company and lis environmeot obtained in tht cours¢ of the audit, we hav¢ not identified material mi5Statements in the Reporf of the Trustees. Pag¢ 25

REPORT OF TRE INDEPENDENT AUDITORS TO TE￿ TRUSTEES OF CHURCHER'S COLLEGE i¥latters ott whieh we are required to report by exteption We have noth￿8 io report ID re$￿ct of the followiDg nTratte￿ where the Companies Act 21K16 t4uire5 US to report to you if, in our opinion". adequate accounting records have not beell kq>t or Tekns adequate for our audit hav¢ Thot been rtctived from brau¢h¢s not visited by us. or the fina￿¢18} ststetneTLts are not iti a￿ll￿ent witb the accounting records ond rerurn& or certain disclosures of rrnsiees. remuneraiion specifled by law are not tn8de.' or we have not received all the infonnation and explanations we wire for our audit. RespoDsibilities Df trustee5 As exp121ned tnore hLlly in the Statement of Tn￿te¢S Responsibilities, the trustees (wbo are also the dtreciors of the paTent ¢haritable ¢ompaoy lor the purposes of compaDy law) are respoosible for the Preparation ol the financial statements and forbeing satisfied that tbey givea true and fair view, and forsuch internal control as the tntstees determine is necessary tt) enable the pieparatioll of fllhancial statemettts that are ftee ftoni matetial mi5Stat¢ment, whether due to fraud or error. In preparing the group finaThcial siaiements, the Trt￿l¢eS ate Tcsponsil)le foT asse&8ing the group and parent ¢1)￿ltable ¢omp8ny's ability to continue a5 a goirtg concern. disclosino as applicable. matt¢rs relat¢d to going cOr￿M aTLd us the going concern basis of awountit)g unless th¢ TnJst¢¢5 eilher intend to liquidat¢ the group aTLd pareni chan"thble company or to ctase optratlons, or have no realistic alternative but io do so. 0￿r re5P17D$ibiliti¢$ for th¢ alldit Of the fi#•n¢ial statejnents Ourobjective5 ar¢ lo obtain reason3bl¢ wuranc¢ about Wheth￿the financial statcm¢ntS &5 3 whole are free from materjal misslatetThellt, whether due to fraud or error. and to issu¢ a Report of the tThdepeThdeut Audithts thai includes our opinion. Reasonable assurance 15 a ILigh level of assurance, but is not a guarantee that an audit conducied in a¢cordance with ISAS (UK) will always deieet a maierial missthtetneni when it exists. MisstaterneTLfs c4n atise from fraud or error and are considered TDaterial if. individually or in the aggregate. they could Teasonably be exwr¢d io Influ¢nce the econotllie decisions of users tskeo 00 the basis of these fuiancial statem•)ts. IiTegulaFities. in¢lud&ng fraud, are in5tsnces of noa-compliance with laws aDd ie8ulations. We design proccduT¢S ID lin¢ with our responsibilities, ouilined above, to delecl mat¢rial misstaLetDents in iespect of ￿[egUlaTi11t$. including fraud. The exteni io whicb our procedures are capable of detecting irregularities, including fraud is listed below." enquiry of fftanagemenl. those ¢harged wiib governance atld the entily's solicitors atound a¢tual and potential litigaiion and claims." and auditing th¢ risk of managem￿1 ove¥Tid¢ of controts including through t¢Sting journal entries and other adjustrntnts for 2ppropriatene$5, and evaluating the business ratioftale of significant transactions outside the norn￿1 course of bLksinesS. A further description of our responsibilitie5 for the audit of the group's fllwicial statements i5 located on the Financial Reporting Council's website ai MYw.frc.or&uklauditt)tsiespott8ibilities. This descfipliots forn￿ part of our R¢porl of the Independeni Auditors. Use of our report Thi5 report Is made sol¢ly to th¢ charitable companys m¢mb¢ts. as a body. in accordance with Chapier 3 of PaTt 16 of the Companies Act 2006. Oui audit ivork has betn undenaken so that we mi8htstate lo ihe charitsblecompany's membe thos s we are required t0 Stale to them in an audirors. report aod for no other PUTpose. To the fullest extent Imilted by ve do noi accept or responsibility to anyone Oth￿ than the charithle company and the riiable cotnpan embers as a IK)dy, for oui audit wort foi this repotL or for the opinions we have fomi¢d. Paul W ht FCA DCILA (Senior Starulory Auditor) for and on behalf of Sheert Stickland Chartered Accourtiants Siatutory Alidi￿rS The Engine House 5 The Square Peiersfield Hampshire GU32 3HL Date 7 December 20?3 Pag¢ 26 .* CHUIICHÈR'S

CHURCHER'S COLLECE CONSOLIDATED STATEiWtENT OF FINANCiAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2023 2023 Total funds 2022 Total ftthds as resthted Unre5tTi¢ted Dds R&%tricted En¢Jowment funds funds Notes tNCOME AND ENDOIVMENTS FROM Donations and lega¢i¢s Invesiment income Charitable aeifivities Education and grant making Other incoming resources 157,739 186.670 45.909 344,409 45.909 284,812 46.473 21.604,093 197,647 21.604,093 19,941.819 154.220 Total 21.959,479 232.579 22.192.058 20.427,324 EXPENDITUIiE ON Raising ￿lld$ Charitable activitie5 Education alld gtant making Trading subsidiary expenditUTe 23.082 23,082 17,750 21,085.986 435.333 157.740 21,243.726 435.333 19.337,728 307 367 Total 21,544.401 157.740 2I,702.141 19.662,845 NET INCOME BEFORE TiLiNSFERS 415.078 74,839 489.917 764.479 Tiansfers b¢iw¢¢n fi￿d5 26 NET JNCOME 415,078 74,839 489.917 764,479 Other retogni5ed gain5nosses Unr¢alL5ed gainkqosses on fixed assets Gainsq05ses on investment ass¢t5 Actuarial 8ainsA055e5 on defined benefit SChe￿¢S (650.400) (1.305) (1,305) 438 158.204 158,204 (2,230) Net movement in funds 573282 73.534 646.816 112,287 REcof4CILIATIOE4 OF FUNDS Total funds brought fonY#rd As previously reported Prior year adjustment 9.975,601 1.571,270 1.359.256 10,403.953 2 963.476) 21.738.810 .392,206) 21,114,605 880.288) A$ restated 11.546.871 .359,256 7.440.477 20,346,604 20.234,317 TOTAL FUNDS CARRIEI D FORIVARD 12.120,153 1,432.790 7 440,477 20.993.420 20,346,604 The noies forn) part of the5¢ financial s￿teMenLs Page 27 CHURCHER'S COLLEGE

CHURCHER'S COLLEGE CONSOLIDATED BALANCE SIIEET FOR THE YEAR £NDKD 31s"r AUGUST 2023 2023 Total fiujds 2022 Total nds Unrestricted fimds Restricted funds Endowmenl funds Notes FIXTD ASSETS Tangible assets InvestmeDts InY¢stmtnts Investment property 15 23.141.340 7.440.477 30.581,817 29,291.335 17 18 11,256 950.0(KI 11.256 950,OCK) 12,561 950.000 23.141,340 961.256 7.440.477 31,543.073 30.253,896 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 19 20 735 348,695 735 348.695 479 229 664 1.024,851 883,859 471.534 357.125 471.534 828,659 1.909.374 CREDITORS Amounts fallin8 due within one year 21 (6,002.450) (6.0￿2,450) (5,739,049) NEI. CURBINT LIABILITIES (5.645.325) 471,534 (5,173,791) {3.829.675) TOTAL ASSE'fs LESS CURRENT LtABILlTIES 17.496,015 1.432,7 7,440.477 26,369,282 26.424,22 1 CREDITORS Amounts falling aft¢r more than on¢ y¢3T 22 (5.375.862) (5,375,862) (6.077.617) NET ASSETS 12.120.153 1432 790 7 440.477 20 993 420 20.346,604 FUNDS Uwestric¢ed ￿ndS Restricled ￿rtd$ Endowment funds 27 12.120.153 1.432,75y) 7.440,477 11,546,871 1.359,256 7,440.477 TOTAL FUNDS 20.993.420 20 346 604 The fi nci315tatemen vere proved by the Board of Tru51¢es on 7 wer¢ sign¢d otl its behalf C Strick - Chairtnan J Blo0w￿T- Vice Chainnan The noles fomi part of th¢5e financial ststernents Page 28 .kn CHURCHEK'S COLLEGE

CHURCHER'S COLLECE BALANCE SHEET FOR THE YEAR ENDED 31ST AUGUST 2023 2023 Totsl filnds 2022 Total fi￿dS as restaied Unrestricted fimds Restricted fimds Endowrnent ffijnds Notes FIXED ASSE'rs TaD￿ble assets lllvestmeots Investments InvestrtteTht property 16 21,470,555 7,440.477 28.911,032 27,618.871 17 18 1.600.000 11,256 950.0(K) 1.611.256 1.612.561 950 000 23.070.555 961.256 7,440.477 31.472,288 30.181.432 CURRENT ASSETS Stocks Debtors Cash at ballk and ITh hand 19 20 735 451.784 242 735 451.784 471.776 664 1.012.654 879 076 471534 452,761 471.534 924.295 1.892.394 CREDITORS Amounts falling dut within one year 21 (5.922,671) (5,922.671) (5.715,013) NET CURRENT LIABILITIES (5.469.910) 471.534 (4.998.376) (3.822.619) TOTAL ASSETS LESS CURREwf LIABILITIES 17.600,645 1.432.7 7.440,477 26.473.9l2 26,358.813 CREDrroRS Amounts falliDg after more than oThe year 22 (5.375,862) (5.375,862) (6.077.617) NET ASSETS 12.224,783 1432.790 7.440,477 21,098,050 20.281.196 FUNDS Unrestricted funds Restricted funds Endowment funds 27 12.257.721 1.432,79) 11,481,463 1,359,256 7 440,477 TOTAL FUNDS 21.098.050 20281.196 ncial st2ttnie ve approyed by the Board of T￿Ste$LO￿L-￿2j and were signed on ils behalf by C Siiick Chairman J Bl¢N)m¢r- Vic¢ ChahmThn The notes fomi pan of these fLnan¢ial S￿lementS PaL7¢ 29 COLLEGE

CHURC1￿R's COLLEGE CONSOLIDATED CASH FLOW STA'fEMENT TrOR THE YEAR ENDED 31ST AUGUST 2023 2023 2022 Notes Cash flow$ from operating 4<tivities: Cash generated from operatlOllS 837.509 3.094.776 C8sb flosvs from investiDg *c¢ivitieJ: Purchase of tangible fixed assets Disposal of tangible fjxed assets Dividend & iDter¢st received (1.914,758) (2.653,293) 3,159 3.723 Net Ca5b provided by (Used in) investing activities (1.911,599) {2.649,570) Cash nows from finantlng aetivities- Bank loan r¢¢¢ived LoaTh repayments in yeat 51)0.000 123 969) 249.603) Net ¢o$h provided by (used in) financing

etivitie5

{249.603) 376.031 Change in cash and cash equI￿lents irt the reporting period Cash and ¢2sh equiv4knts It the beginDing of tbe reporting period (1.323.693) 821,237 883.859 62.622 Cash and cash equivalents at the eod of ihe reporting period 439 834) 883.859 The notes fomi part of these financial &taiement5 Page 30 CHUKCHER'S

CHURCHER'S COLLEGE IYOTES TO THE COF4SOLIDATED CASH FLOW STATEMEN[ FOR THE YEAR ENDED 31ST AUGUST 2023 KECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPEELATINC ACrIvrr￿S 2023 2022 as restated Net IDcomel(¢ipendi¢ure) for the reporting period (as per the Statement of financT#I 3ttiYhtie$) Adjustments for: Gairl(losses) ot) d¢fined beDefit ￿htEne D¢pr¢ciation of fixed assets Dividend5 & interest received (Rncr¢aseyd¢crease ij) stocks (In¢Teaseyd¢¢rease in debtors {D¢crease}lincrease in credito 489.917 764.479 158,204 624.276 13.159) (71) 676,156 1 107.814) (2.230) 691.512 (3,723) 1,053 (552.198) 2 195.883 Net casb provided by operating attiviti¢s 837.509 ATrIALYSIS OF CASH AND CASH EQUIVALENTS 2023 2022 Cath ai baa]k and in hartd Overdrafts falling due withio on¢ yeat 479.229 919.063 883.859 'lotal eash gnd ca$h equlvalents 439,834) 883.859 The notes forni part of these finan¢ial statements Page31 CHUKCHER'S COLLEGE

CHURCHER'S COLLECE NOTES TO TH£ CONSOLIDATED Fif4ANCIAL STATEMENTS FOR THE YEAR ENDED JIST AUGUST 2023 STATEMENT OF COMPLIAI4CE Churcher's Colle8e is a Public Benefit EDtity registered as a charity in Eogland and Wales and is a cotnpany limited by guaraDtee. The members of the compaoy att th¢ Governots wbo 3r¢ also Directors of the u)tnparty. In the event of the company being wound up. th¢ l￿bIlity in ￿SPect of the guardntee is limi￿ to £1 for all serving Governors. It ivas incorpoTat¢d on 12 Jw)e 2017 {compaDy number 10813349) and r¢gis￿ra as a charity on 14 July 2017 (¢harity Dumber 1173833). The regis¢eTcd office is Ratllshill. P¢teisfi¢ld, Hamp5bire GU314AS. The financial ststem¢nts are presented in sterling which 1$ the functional currency of tb¢ group al￿ rounded to tlLe near¢st pound. The Group's fLnancLal statetnents have be¢D prepar¢d ill compliance with FRS 102 as it applied to the fJnan¢ial ststem¢nts of the Group for the year ended 31st August 2023. The significantaccoutttingpoliciesapplied in theprepatalionofth¢s¢ rular￿la1 statements are set out below. These policies have been CODSiStently applied to all y¢aTS pre5¢llted unless otherwise stated. ACCOUNTING POLlCtES Basis of prepari￿g th¢ fin*ociil statements The financial statements of the chariry, which 15 a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102) 'Actounting and Reporting by Charities.. Statement of Recotnrnended Practice applicable to charitiespreparing their accounts inac¢ordancewhth the Financial Reporting Standard applicable Ln tbe UK and Republic of Iicland (FRS 102) (effective l January 2019),. Financial Reporting Ststhd31d 102 Yhe Financial Reponin8 Stsndard applicable in the UK aThd R¢pubknc tsf Ireland, and the Charities Act 2011. The fmancial ststements have been prepared under th¢ historical cost convention with the ex¢¢ption of Investmen￿ and c¢rtain tsngible fixed a5s¢ts which ar¢ includ¢d at maTket value. Con501id#tion The flnancial ststements incorwjrate the results of Churcher's College and its wholly owned subsidiary Churcher'b Ci)Ile8e Enleryrises Limited (Company nurnber-. 05770329). prepared OTh a linc-by-line bas1%. Exemption has beet) tskell from including tb¢ unconsolidated stalen￿[11 of f￿ancIal actLVLlies of Churchec's College in accordance with section 408 of the compani￿ Act 2006. Critical accounting judgements and key sources of estimltion unttrtainty In the application ofthe accounling policies. Directors are tequired to make judgemen¢ estimates. and assumptions abolit the carrying value of assets and liabililies thai are not readily appareni from other Sources. The estimates and underlying assumptions are based on historical experience and other factor5 that are considered io be Televant. Actual results Tnay differ from these estimat¢5. The estimaies and underlying assumptions are revi¢iv¢d on ao on80IDg b¥is. Revisions to accounting estimates are recognised in the period in ivhich the estimate is revised Ltthe revision affects only thatperiod, or in the period of the revision and future perii>ds if the revision affected cu￿en1 and futyre period5. In the view of ihe trn5tees, no assumptions ¢oncerniThg ihe fuNre or ¢5timation uncertsinty affecting isseis or liabilities at the balance sheet date are likely to result in a ma￿[la1 adjuument to theiT Carrying amounts in the ext fin)ncial year. Paoe 32 CHURCHER'S

CHURCHER'S COLLEGE NOTES TO THE COIYSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST AUGUST 21123 ACCOUNTING POLICIES- continued Fees and similar iDcorne Fee5 re¢eivablc aud Charges for seTvi¢es and use of premises ate accouTrted for in the pertod in which the 5etvice is provid¢d. F¢¢s r¢ceivabl¢ are stst¢d aft¢T deducting allowances. scholatships aThd othei r¢mi5sions granted by the school, but in¢lud¢ Contributions received from Restricted Funds for s¢holarslu'ps, bursarie5 and othcr grants. Fees in advance comprise fee payments mad¢ by insthltnent before the start of the financial y¢ar and a small number of lump sum f¢e prepayment arnounts. Illvestmetst ID¢om¢ Investment in¢ome from di¥id¢nds, baDk balances and flxed interest ￿UrItieS is accoimttd for on an attruals basi5_ Income from investment properties is accounted foi the period to which the rental income relates. Pupil deposits A deposit is held by the College in respect of each pupil for the du¥aiion of tbeir Schooling. Ii is refullded when Ihe pups1 leaves less any fujal ch￿geS. D4llation5 Donations receivable for the geneTal pL￿j0S¢S of the Charity 8r¢ ¢r&lited to Unrestricted Funds. Donations for pUt￿SeS restricied by the wishes of th¢ donor ar¢ taken to Restricted Fund5 where ihese wishes ar¢ legally binding on Churcher's College Governors. excepi that any amounts required io be reiained as capitsl in ac￿rdanCe with Ibe donorfs wisb¢s are accounted for insi¢ad &¥ Endowrnents - permanen¢ or expendable accoTdhng to the nature of the r¢5tri¢tion. Expemditllre Expendiwre is a¢cowited for on an a¢eruals basi5. Overhead and other costs not directly attTibutable to particular functional activity categories are apportion¢d over the relevant categories orb the basis of managtm¢nt estimates of the amount attributsble to that activity in the year, either by refeien¢e to sr3ff time OT spac¢ occupied, as appropriaie. The irrecoverdble ¢lemttLi of VAT is included with the 1￿M of ¢xpens¢ Lo whi¢h it relates. Support Costs compr15e the ¢05ts of rnnniDg thechan"ty, including the strntegic planning foT its development, also it]t¢rnal 85]d exletnal aud(i. any legal advice for the Churcber's College Govemots. and all the cos15 of complylng ivith ¢onstitutioThal statutory r¢quirernents, such ￿ the Costs of Board and Comrnittee m¢ding5 and of preparing statutory accounts and satisfy)"ng public accountsbility. Grants offered subject 10 condiiions which have not be¢n rnet at the year-end date are Thoted as a commitm¢nt but ot a¢crued as expenditure. Operating le2se5 Rentals payabl¢ under operaiing I￿eS are charged in the SOFA on a araight-line basis over the l¢a5e terrn. Assets In the course of constructiOD Expendityre incuffed in relation io capital building projects is treated as assets in the COUTse of consiNction until practical cotnpletioTh when all expenditure 15 reviewed and reclassifled to ihe appropriate class of tangible fixed asset. Paoe 33 CHUIIC COLLEGE

CHURCItER'S COLLEGE NOTES TO TIIE CONSOL ￿ArE￿ FINANCIAL STATEMENtS- CONTIKUED FOR THE YEAR ENDKD JIST AUGUST 2023 ACCOUNTING POLICtES- ¢oTrtinu¢d Tattgible rued assets ExpeDdltt￿e on the acquisttion. constntction or erthancernertt of land and builditi8S Costing n)ore than £10,000 together with vehicle$, fillniture, macbinery. ICT infrastructure and oiherequipment are capitalised and carried in Ibe balante sheet a¢ htstorical cost tn ¢¢rtsin circumstances. wh¢re part of an asset Is replaced but th¢ original attribuiable cosi is noi a5Ckrtainable, a re&50nable estimate of the cosL ilmaterial. has been used Other cxpendilure on equipment and repairs and maintenon¢e (which include an element of tmprovem¢nt} is r¢8arded as in¢urred in the norrnal daY-¢￿daY runnin8 of the scbool aod its subsidiary and is charged to the Statem¢nt of Ftnancial Activilies as Depreciation Tbe freehold college land. and buildings under the Pem)anent Endo•wment ar¢ noi depreciated. DepTKiation is provided to WTite off the ¢osi of all relevant tangible rtxed 2s5tts less estimated residual value based ou curreni sllarkei pri¢e& iti equal annual instalmenls OV¢T their expe¢ted u5efiJl economi¢ lives as follows.. 20-100 years.. 3 .10 years." 5 years: New buildiTh8s and impro¥etnents to buildings (unless subject to revaluation) Fixtures fittings and school quipm¢At Motor Vehicles Investment property Invesimeni PToperty is shown ij) the fuJanci31 stsiem¢nrs at th¢ trustees. estimied valuation and thi5 is reviewed at￿u&l1Y_ kny aggre8at¢ surplw or d¢ficit arising from chaDges in markei value i5 transfeTTed to th¢ Siatem¢nt of Financial ActivitLeS. Stocks Stocks are Valu￿ at the lower of cost and net Teali5able value. after making allowance ftr obsolet6 and s10w- moying itetDS_ Taxation The charity is ex¢mpt from tsx OD its charitsbl¢ activities. Fuud aceounting Thecharitsble funds of the College are ac¢ouniedfot a5unrestTiCtedor ￿$t[I¢L¢d inwme. oras endowmeotcapital. in accordance with the tefms imposed by tbe donots or any appeal to whith they have responded. Unrestricted inctstne beloDg5 to the College's ¢OTPOtate reserves. spelldabl¢ al the disctttion of the Governors eiihei to further Ihe College's Obje¢rs or to benefit the Colleg¢ itself_ Where the Governors decide to set aside 21ky partof these funds to be used in fun]re for some specific purw>5e, this Is acCoun￿d forby ¢taThsfer 10 the appropriate d¢stgnated fvnd. Re$tricted income Comprises gifts. lewi¢s and grants wbet¢ th¢r¢ is no capitsl ret¢ntion obli8alioTh or power bui only a restriciion io some specific purp)se iniend¢d by the donor. Permanent endoivment represent5 certain land & buildings not tsansftrred io the company but remain under the control of the predec¢5s0r charity Churcher's College asdetailed withinthccharity Commission sch¢me approved on 31 Au(TUSI 2017. Page 34 CHURCHEII'S COLLEGE

CHVRCHER'S COLLEGE NOTES TO THE CONSOLU)ATED FIE4ANCIAL STATEMENrs- cor4TINUED FOR THE ITAR ENDED 31ST AUGUST 2023 AccouNfiNG POLicfES- ltsvestme4t$ IDvestrn¢nts are valued in the balance sheet at th¢ii mid-market valur at the balance sbeet date. Investmellts management costs are accounted Ioi &$ incidental cijsts of the acquisition or disposal where tra05a¢iigp-bas¢d, while investment income management costs a￿ clwged as expend1ft￿¢ our of the relevant income funds. Going coR¢¢rD The tTUStee5 COTJsJder that the¥¢ ar¢ no material uncertainties that TMY C2St doubt about the group's ability to ¢Olliinue as a going con¢ern. Pension costs and •iber post-retirtroent benefits The charity operates nvo defthed benefit pension scbem¢s. Contributions payable to the ¢haJi￿$ pension scheme are charged to the Statemcnl of Financial Activities in the penod to which tbey r¢laie. The S¢hool part]cipat¢s ID th¢ Teach¢rs' Pension Schem¢ ("tht TPS") for its teathing stsff. Th¢ pension charge for the year iDcludes ernployer colltributioDs payable to the TPS of £1.544.622 2nd at the Year-¢[￿ there was no outstanding amount due in respect of conrribulions to this scbeme. The TPS 15 an unfi￿ded multi4mploycr defmcd benefits pension schetDe govemed by the T￿her$, Pension Scheme REgula¢ioDS 2014. Members Contribute OD a "pay as you go" basis with contributions frotn tnembers and Ihe employer being credii¢d to th¢ Excb¢qu¢r_ R¢tir¢ment and oth¢r pcn5ion be￿¢fIts ale paid by publi¢ fimds provided by Parliam¢nt. The employer Contribution rate is sei folloiving sch¢me valuations urylertaken by the Government ACtua￿S Department. Th¢ latest actuarial valuatioTh of the TPS ivas prepared a5 at 31 March 2020 and the valuation repo¢ which was published in Octob¢r 2023. The employer ￿ntribUtion rnte for the TPS has been set at 28.6¢/0 ivlth effect from l April 2024. Until that date the rate will remain at 23.68/. The valuation s at 31 March 2020 will deiem)ine the opening balanceof the cost c&p fund and provide an analysis of the cost cap as reouiTed by the Public SeThi¢e Pensions A¢1 2013. Following a consultation with $taff the ￿h0o1 bas capped the cost of ils employercontribution5 atthccurrent level such thai there ivill be no impact ort the school if the TPS tales wtte ￿ increase in the ￿tllre. a5 employees would be iequired to ￿nd ally su¢h increases. During the year the School launched a new defined contribution pension schetne. APTIS. a5 an aliernative Scheme to the TPS wiib equivalent ettwloyer conlTibution levels and flexibility for ¢mploy¢es on ihe l¢v¢l of (b¢ii contribuiioTLS. The S¢hool also participates in the Hampshir¢ Pension FuDd ('Iht HPF) for Its non-teacbing support siaff. The HPF 15 part of the L￿al Gov¢mraent Pettsion Schemc aod is adtnint5tered by Hampshire County Council. The HPF is governed by the Public SeTvice Pensions Act2013_11 is acontribuiory defined b¢neCJt pensioTh scheme administered by Hampshir¢ County Council io provide pensions and oiheT benefits foT pensionable employees of Hampshire County Council. Portsmouth and Southampton City Councils. Ihc I I district couThcils in Harnpshire, anda range of otlLe¥ scheduled and admiit¢dbodie5 {uuder adtnissiona8re¢ments) within thecoufity area including the school. The Fund 15 overs¢¢n by the PeTh5ion Fund Pane] and Board, Ivbich is a committee of Hampshire Coiinty Council. The surplus in the scheme is recogni5ed in Ihe fynancial statements in accoTdan¢¢ with FRS 102 Th¢ expenditure recognised in the SOFA during the yeai LS 311o¢ated ro charitable aciifvilies_ The schem¢ was Tevalued in April 2023 with the employer contributions rising from 23.1% 10 23.4/. In addition to providing penshon CO￿trIbUtIonS foT ¢urreot ¢mployees, the School also pay5 a p¢n5ion io a former ¢mployee as shown ivithin staff tosts_ Patse 3) CHUIICHER'S . COLLEGE

CHiIRCttER'S COLLEGK NOTES TO THE COF4SOLIDATED FINA￿c￿L STATEMEKfs- CONT]TrIUED FOR THE YEAR ENDED 31ST AUGUST 2023 DONATIONS AND ￿CAcKL$- GROUP 2023 2022 as reststed Developm¢nE donations Donations from Richard Churcher Fouodation Fund 186.670 157 739 141,409 143 403 344.41)9 284,812 OTHER INCOTrIING WOURCFS- GROUP 2023 2022 a5 restated Tuck Shop income Lettin85 Trath"ng incotne Cbvrcher's Coll¢ge Enterprises Limited Disposal of asset 1.162 25,798 170,287 400 999 23.065 130,156 197.647 154,220 IiYVESTi¥IENT INCOME- GROUP 2023 2022 as restated Rental Income Dividends & JntCTe5t T￿tived 42,750 42.750 3,723 45.909 INCOML FROM CHAIUTABLE AcfiviTIES- GROUP 2023 2022 as restated A¢ttvity Education and grant Tnaking Educati(pn and grant m3king Education and grant Tnaking Gross s¢h(K)I fees Entrance 2XLd iegistratLOll f¢es Lunches and milk Other in￿rne (excl shop ineome) 20,608.370 52,298 888,890 19,027.350 43.762 834.189 Education and grant making 54.535 36.518 21.604.093 19.941819 RAisif4G FUNDS- CROUP Raising doNation5 and legacies 2023 2022 as restated Raising donatkons and legacies- Ibchard Church¢r Foundaiion 23.082 P3ot 36 CHURCHERS "W COLLEGE

CHURCHER'S COLLEGE NOTES TO THE CONSOLtDATED FINANCIAL STA TEKENTS- CON'rtNUED FOR THE YEAR ENDED 31ST AUGUST 2023 CHAIUTABLE ACTlVftlES COSTS- GROUP Grant fvT¥Jirtg of ac¢iviti¢s Support costs (See tsote 9) (S¢e note 10) Direct ￿$ts Totals Educaiion and graot rnakin8 Tradtng wsts.. CCE 19.292.667 431 772 1.833,79) 117,260 21.243.726 435,333 19.724 439 1833 799 120.821 21679.059 GRANTS PAYABLE- GROUP 2023 2022 as restated Bursaries and oth¢r grants and award5 l.833,799 2 176,229 io. SUPPORT COSTS- CROUP 2023 2022 a5 restated Legal fees Auditors remuneration Accounts preparation services Tax advLSOry services 95,901 18,720 5,700 500 80.326 17,820 5,100 500 120 821 103,746 TRUSTEES, RETrttfNERATIOIN LND BE_NEFITS- GROUP There %vere no iwst¢¢5' remun¢rdtion or other benefits forthe yeAT ended 31M August 2023 nor fcpr the year ended 3 1st August 2022. Tru5tees' expenses During the year, one irustee was rtimbursed a totsl of £2.561 for travel and sub5LSt¢n¢e expetlses {2022.. £6,077). 13. STAFF COSTS- GROUP 2023 2022 as r¢siated Wages and salarres Social security costs Other p¢nsitsn COSL% atld apptenliceship lewy 9,663.659 1,053,56S 2,095.189 8.970,851 985.952 1,939,267 12.812.416 11.896.070 Paoe 37 CHURC

CHURCELER'S COLLEGE IYOTES TO THE CONSOLIDATED FINANCJAL STATEMENTS- CONTINUED FOR lItE YEAR ENDED 31ST AUGUST 2023 13. STAFF COSTS- GROUP ¢•ntinued None of the Trustees rtteived any remuneration or other benefits frorn Cburcherfs College or from any connKt¢d body. Ther¢ were ten employees WILO are considered to be Senior ManagetTrent within the College. Theit total r¢rnunerationdurin8 the yw amounted to £1.084,695. The hi8hest paid memberof th¢ Senior Managetneni Team rKeived total iemuneTation amoutiting to £223,255 excluding pension ¢oDtribuiions. The averag¢ monthly nurnber of employe¢s during the y¢ar was as follows: 2022r2J 141 33 26 18 13 2021122 125 32 27 20 Teaching Administration Teckwicians Cleat)ers Sit¢ Nurses 234 217 2022123 2021r22 Nurnber of higher paid employ¢es bn band5 Of: £60,000- £70,000 £70,001- £80.000 £80.001- £￿.000 £90,001- £IOO,000 £ioo,001- £1 10,o(N) £ll0,C￿l - £120.000 £120,001 _ £130.000 £130.(K)1 _ £140,(MKJ £140.001- £150,000 £150,001- £160,0(KJ £160,001- £170,0 £170,001- £180,OIX) £180.001- £190.000 £190,001- £2(KJ.000 £200.001- £210,0(K) £210,001- £220,000 £220,001- £230.01)0 17 18 The nUTnber with reiirelneni benefits a¢¢ruiDL7 - in Defined Benefit schemes iva5 Of which the ¢ontribuiions amounted to 229 £789,245 216 £742,228 14. PRIOR YEARADJUS"IMENT Th¢ trustees hav¢ con5id¢r¢d the b&4is of valualion foi the fTe¢hold propertie$ held by ¢he chaTiry. The valuation method used in Ihe 2017 valuation is now considered io be inappropriate and as a resuli it has been agr¢ed to unwind the revalllation adjustmen15 made in the flnancial siaiements for the year ended 31 August 2018 and revert io th¢ historical cosi basis ivith as51xiaied depreciaiion. These adju51meThts have been Teflecied as a prior year adjustment with the result ihat there ha5 b¢eD a Thel decfease in the funds held of £1.392,206. Page 38 .*Xt CHURCHERS COLLEGE

CFJURCHER'S COLLEGE NOTES'fo THE CONSOLIDATED FINANCIAL sTATE￿IENTs- coNT￿UED FOR THE YEAR ENDED 31ST AUGUST 2023 15. TANGIBLE FIKED ASSETS- GROUP Freehold Assets und property COD51ruciioD Plajt and machinery COST At 1st September 2022 AdditlODS Dlsposals Keckssification 31.930,656 615.992 (1.463.016) 780 477 537.313 841.867 580,473 212.598 {303.3381 1379 180 At 31st Au8USt 2023 31.864.109 1074.042 DEPRECIATION At 1st September 2022 Charge for year Eliminated on dhsposal 3,703.322 401.845 .463.016) 483,548 89.419 03,338) At 3 1st August 2023 2 642 151 269 629 NET BOOK VALVE At 31st August 2023 29.221958 804413 Ai 3 1st August 2022 28.227.334 537,313 96.925 Motor vehicles Cornpuier equipment Totsls COST At Isl September 2022 Additions Disposa15 Reclassification 50.955 32,990 (50.955) 1.001.269 34.100,666 211.311 1.914,758 (516.753) (2.334.062) 14.394 Ai 3 1st Autsust 2023 32.990 710,221 33 681.362 DEPRECIATIOPI At 1st September 2022 Charge foi year Eliminated on disw)ul 47.283 10.270 50.955) 575.178 122.742 516.753) 4.809,331 624,276 2 334 062) At 3151 August 2023 6.598 181.167 3.099 545 NET BOOK VALUE At 31st August 2023 26,392 529.054 30 581.817 At 3 1st August 2022 426.091 29.291.335 In Ihe opinion of ihe iiustees all ptopeny assets Should remain in these finartial 5th￿ments at historical cost. Pag¢ 39 CHUEICHER'S COLLEGE

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINAIYCIAL sTATEMe￿6- coNriNUED FOR THE YEAR Ef4DED 3JST AUGUST 1023 16. TANGIBLE FIXED ASSETS- CHABifY ct)ntiDu¢d Freehold Ass¢t$ under property constNction Plant and macbitt¢ry COST At 1st September 2022 Additions Disposals Reclassification 29.759.855 615.992 (1.463.016) 780.477 537.313 841.867 561.466 168,180 (284.331) 584 309 379 180 At 3 1st August 2023 29.693 308 1029 624 EPRECIATION Ai 1st Septetnbel 2022 Charge for year Eliminated on disposal 3.204,985 355.748 1.463.016 464,541 89.419 284.331) At 31st August 2023 2097,717 269 629 NET BOOK VALUE At 3 1st August 2023 27.595.591 759.995 At 31st Augvst 2022 26.554 870 537,313 96.925 Motor vehiclcs Computer equzpmeot Totals cosr At 1st Sepl¢mber 2022 Additions DsSP05als R¢classification 50.955 32,990 (50,955) 1,001,269 31.910,858 211 Jll 1.870.340 (516.753) (2.3 15.055) 14.394 At 31st August 2023 710,221 31466 143 DEPRECIATION A¢ 1st Seplember 2022 Charge for year ElimiThal¢d on disposal 47.283 10,270 50.955) 575,178 122.742 i16.753 4.291.987 578.179 2,315,055) At 3 1st Aiitsllst 2023 181,167 2,555,111 NET BOOK IIALUE At 3 1st August 2023 26.392 529.Oi4 28911.032 At 3151 August 2022 426.091 27618 871 Page 40 -••J CHURCHERS ,.?￿ COLLEGE

CHURCHER'S COLLEGE NOTES TO THE CONSOLLDATED FINAF4CIAL STATEMEMfS- COh-fwuED FOR T&E YEAR Ef4DED 31ST AUGUST 20Z3 A7. FJXED ASSET INVESTMENTS- GROUP Liste41 Investm¢nts IARKET VALUE At IsiSept¢mb¢r 2022 Revaluation 12.561 1,305 At 315t August 2023 11.256 NET BOOK VALUE At 31si August 2023 At 31st August 2022 12,561 FLXED A&SET INvEsT￿ENTs- CHAIUTY Shares in group Listed investments Totals MAiiKET VALUE Al Isi Sepiember 2022 Rev&luation5 1.6(K).000 12,561 1,612.561 438 At 31st August 2023 11.256 1.612,561 NET BOOK VALUE Ai 31st Au8USt 2023 1612 561 Al 3151 August 2022 12.561 l 612 561 The investmenl in the subsidiary ¢ompany was made to ethable li io ¢onsw¢l czrtain buildin8s thal are used primarily by the Charity. Those assets were revalued to £1.600.000 in thc finarhckal staiemetlts of the company at 3 1 August 2018. This revaluation has been rtversed in the f￿anGla1 sFdt¢ments of the subsidiary and the assets ate now depreciated. The net book value of those assets 15 £1,63 1,368 and thcTefoi¢ the irnst¢es do nol c(pnsider any change is required to the value of the invesim¢nt a5 at 31 Au8U5t 2023. There were no iDveskn¢nt assets outside the UK. Subsidiary Churcher5 College Enterprises Limited Nature of business-. Operaiion of Spon Facilitiss Class of shares.. Ordinary holding 10000 2023 2022 as restated Aggregate capital and reserve5 Turnover Profitl{Ios5) for the year ,495.370 271,760 170038 1.665.408 223,460 90,210 Pa8¢41 COLLEGE

CHURCEtER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2023 18. INVESTMENT PROPERTY- GROUP AND CHARITY MARKET VALUE As at 1st Sepiember 2022 Revaluation 950,000 Ai 31st August 2023 950 000 NET BOOK VALUE At 3 1st Augusi 2023 950 000 At 315t August 2022 950 000 The inv¢stEnent properties were infomully valued by the tnLStees a5 31 August 2021 by reftrenc¢ to local market conditions and value of similar properti¢s in the ar¢a. 19. STOCKS- GROUP AND CHARITY 2023 2022 as re51aied Stocks 735 664 20. OE6TORS: AMOUNTS FALLING DUE wrrEuN ONE YEAR GROLrp 2023 2022 2023 2022 as restated Trade d¢btors Other debtors Amounts owed by related undertaking Prepayments ond ac¢rued income VAT 257.831 3.259 866.407 3,660 258.705 3.259 105.072 84,748 860,943 3,660 84,748 148.051 148,051 348.695 1024,851 451,784 1.012.654 21. CREDITORS: AMOUNTS FALLIPIG DUE wrrHIN ONE YEAR GROUP CHAJUTY 2023 2023 2022 2022 as restated Bank IoaDS and overdraft Isee noie 24) Fees received htl advance {see note 23) Trade creditors Deposits from parents VAT P¢Thsion d¢ficii (se¢ note 25) Oiher creditors Amounts diie ￿ related undertakino Accrued expenses 1,175,169 3.486,$64 685,565 127,600 249,604 3.920.149 1227.158 117.825 1,175.169 3,486.564 660,448 127,600 249,604 3.920,149 1,170,285 117,825 15,426 146,891 15,426 146,861 36,367 154,798 154,758 372,754 61.996 318.132 6.002.450 5.739 049 5 922 671 5,715.Ol3 Page 42 CHUtLCHER'S COLLEGE

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENI"S- CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2023 22. CREDITORS: AMOUNTS FALLINC DUE AFfER MOB£ THAN ONE YEAR GROUP 2023 2022 2023 2022 as restated Bank loans (see noie 24) Fees received in advance {see note 23) Deposits from parerjts Pension deficit (see twte 25) 3.892,563 458,407 I.024.8￿£ 4,148.668 826.246 939,925 162778 3.892,563 458.407 1.024.8 4,148,668 826,246 939.925 162 778 5.375 862 6.077,617 5.375 862 6 077 617 23. FEFS IN ADVANCE SCHEME- GROUP AND CHARITY Inclllded within fees in advance art 2mounts from parents who pay by direct debit in advance of the next terms Anvoice whi¢h tot311ed £2,907,710 (2022.. £3,180,535). The remaining eletTLeDI is wbere parents enter inio a ¢ontraci to pay the College ITh advance for fixed contributiOIIS towards (he witiotl fees for up to five yeaTS_ The money may be reLumed 5ubjecÉ to specifLC conditions on th¢ receipt of noti¢e. Assuming pupils will remain in the Colleg¢, fees in advance will be applied as follows.. 2023 2022 Within one year Within one to two years Within nvo to five years 578,854 226,717 739.614 371.590 454.656 1.037261 1565,860 CHURCHEII'S

CHURCHER'S COLLEGE NOTES TO THE CONSOLtDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2023 24. LOANS- GROUP AND CHARTry An analysis of th¢ ma￿rity of loans is gtvea below.. 2023 2022 Amow)ts falling due witbin one yeaT on dernand.. Bank overdraft Bank loans 919.063 256 106 1 175 169 249.604 Attlounts falling due between hvo and flye years". Bar￿ loans- 2-5 years 1.097.338 1,068 089 Amounts falling due in more thèn five years.. Bank loans more Syr 2 795,225 3,080.579 The bank loans disclosed abov¢ are D)ade up a5 follow& Goodfield Project Developtlleni The charity entered into a phased drawdown loan with Lloyds Bank plc in July 2019 to 5UPPOrt the collstnL¢tion of the tseiv buildings on the Senior School site. The maximum facility available wag £4.500.000 and as at 31 August 2023 £4,500,000 h&s been drawn in four iranches of £l,000.(th in M3r¢h 2020. July 2020, Decemb¢r 2020 arld Augusi 2021 and one tranche of £S00.OW in March 2022. Aifrran¢hes"wereTrubje¢t-to-a-capitalYep3ymenrholidaywiiil.Marcha02.2.-InteTe8t-iA)ei￿¢￿tt[ged-a1-the-aj1-ITh-- ra¢e of 2.9050/0 in Tespeci of the fiTSt trdnche. 2.555Yo for the second tranche. 2.35V/ for the third tranche. 2.793 % for the fourth tran¢he and 3.07Q/o for th¢ fifth tranebe. The loaTh will repaid DveT a fifteeo year temi. AII loan5 are secured by way of a first lega] ehaige ovet the freehold land and prop¢rty owThed by the Charity togeiher with an unlimited deb¢n￿re_ Page 44 CHURCHERS

CHURCHEk'S COLLEGE NOTES TO THE CONSOLtDATED Fif4ANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2023 25. PENSIONS The charity participate5 ID ihe Hampshwe Pension Fund which is • multi-employer defin¢d benefit pension Scheme adrnsnistered by Hampshire County Council. The s¢hem¢ w&$ subject to 3 triennial valuation as at 31 March 2022 and the ach￿￿al reFx)rt was published on 31 March 2023. There is an overall s￿￿luS within the s¢h¢me at the Yaluation date. Using a lower risk funding level of 102.30/¢ the share of the surplus attributable Éo Churcher's College as at 31 Match 2022 amounted to £219.(MKS. The charity was previously iequhred to make ¢ontributions ovei a 16 year petiod to ¢aTlier deficits within the scheme but these Contributions ceased during the y¢ar haviD8 Tepaid a fvnhet £20.(100. The remainin8 defLCIt included in the finan¢ial statements ai th¢ date contributions Ceas￿ was £158,204. Givert th¢ overall surplus this liability ha5 now been rtyjuced to nil as at 31 Augusi 2023. 26. LEASING AGREEMENTS- GROUP AND CHAIUTY MIThimum lease payments uThd¢r non-cancellable operating le&%es f211 due as follows.. 2023 2022 Within one year B¢Ni¢¢n one and five y¢ars 73.463 83.897 106,949 132479 239.428 Page 45 CHUIICHER'S

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONJ"INUED FOR THE YEAR ENDED 31ST AUGUST 2023 27. MOVEMENT IN Fuf4DS- GROUP Ai 1.9.22 Prior year Nef movemM¢ adjustrtlent ill fijnds At 31.8.23 U#restrlcted luods Gtneral fund 9.975.601 1.571.270 573,282 12,120,153 R¢5trict¢d fund$ RCF 1.359,256 73.534 1,432.790 Perrn*Dent Endowmellt Fund 10.403.953 {2,963,476) 7.440.477 TOTAL FUNDS 21,738 810 1,392,20 20,993.420 Net movement in funds, included in thc abovc are as follows.. Incoming e50urces Resouices expeDd Gains and Movtm¢Dt in 10ss¢5 fvnds Unrestricted fund5 General fund 21,959.479 (21.544.401) 158.204 573,282 Restricted futtds RCF 232,579 (157.740) (1.305) 73,534 Ptrrnanent Endowrnent Fund TOTAL FUIYDS 22 192058 21.702 141 156,899 646,816 The tnlslees have agreed that the Pennanent Endowtnent Fund should made up of th05e ass¢ts tr8n$leffed to Churcher's College under the Charity Commission Scheme doted 31 August 2017 &% adjusted by the revaluation ¢atTi¢d out on I September 2017. Any additions to those assets and associated depreciation will be treared as part of unrestTlCted fiLnd5. Page 46 CHURCHER'S COLLEGE

CHURCHER'S COLLEGE NOT£S TO THE CONSOLIDATED ￿NANCIAL STATEMEMfs. co(¥TJNUED FOR T1￿ YEAR ENDED 31ST AUGUST 2013 27. movE￿IENT tN FUNDS- GROUP tODtinued Comparatlve movemetst ID fw•ds At 1.9.21 Prior year Net tnovetnellt adjustrnent ITh funds At 31.8.22 UThre$¢ricted futtds General fund 8.745.913 2,083,188 717.770 11.546,871 Restricted funds RCF 1,314,339 44,917 1,359,256 Permanent ￿￿d0￿￿ellt Fund 1,054.353 (2,963,476) (650.400) 7.440.477 TOTAL FUNDS 112287 20 346 604 Net rnovemeDI in hjnds. in¢I￿led in the above ar¢ as follows". Incoming r¢sourtt5 Gains 2nd Movetnent in losses funds expended Unrestricted funds GeTheral fiLnd 20.239.442 (19.519.442) {2.230) 717,770 Restricted funds RCF 187.882 (143,403) 438 44,917 PermalleDt Elldowment Fund (650,400) 1650,400) TOTAL FUNDS 20.427 324 19.662.845 652.192) 112,287 Page 47 CHUIICHER'S COLLEGE

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINAE4Ci￿L STATEMEpifs- CONTINUED FOR THE YEAR Ef4DED 31ST AUGUST 2023 27. MOVEMENT IN FUNDS- CIIAIUTY ¢ODtiDued At 1.9.22 Prior year Net TnoveEnent adjustrDeDt ID fvnd5 Ai 31.8.23 Unrestrl<ted fuDd5 General 9.975,597 1,505.866 743.320 12.224,783 Restritted fu￿dS RCF 1.359.256 73,534 1,432.790 PermaDent EndowrD¢Dt Futhd 10.403.953 12,963.470 7.440,477 TOTAL FUNDS 21.738.806 1.457.610) 816.854 21,098.050 Net movement in fvtKts. included in the above are a$ follows.. Incoming Resources expended Gains and Movement in losses funds Unrestricted (unds General fuThd 21.795,657 (21,210.541) 158.204 743.320 Restrl¢ted lund5 RCF 232,579 (157.740) {1,305) 73.534 P¢¥maDent Endowrnent Fund TOTAL FUNDS 22.028.236 21368,281 156899 816,854 Paoe 48 CHURCHERS COLLEGE

CHifRCHER'S COLLECE NOTES TO THE CONSOLIDATED FINAN'CIAL sTATE￿ENTs- CONfINUED FOR THE YEAR ENDED 3 1ST AUGUST 2023 27. MOVEMENT IN FUNDS- CHARrrY cDotinued Comparative movement fuod$ At 1.921 Prioi yeat Net movem¢nt adjusvnenl iu fun¢ts At 31.8.22 Unrestricted futsds General futMI 8.708,856 1.964.626 807,981 11.481,463 Res*ri¢ted fullds RCF 1.314.339 44,917 1.359,256 Permanetst End(trwment F￿Thd 11.054.353 (2.963,476) {650.400) 7,440.477 TOTAL FUNDS 21.077 548 998.850 202,498 20281 196 Net mov¢mtnt in OJnd5, included in the above are a5 follow5.. Incom Resources expended Gain5 and Movement in losses nds Unrestricted fund5 General fund 20.115.590 (19.305.379) {2,230) 807,981 Restricted funds RCF 187.882 (143,403) 438 44.917 PermaDetht EndowmeDt Fund (650,400) {650,4(x)) TOTAL FUNDS 20.303 472 19.448.782 652 [92) 202 498 Page 49 CHURCHER'S

CHURCHER'S COLLEGE NOTES TO TUE CONSOLIDATED FINANCIAL STATEMEN'fs- COLYrtNUED FOR THE YEAR ENDED 31ST AUGUST 2023 28. RELATED PARTY DISCLOSURES- GROItP AND CHARITY During the yearChur¢her'5 Colleg¢ charg¢d £6.465 (2022.. £6.303) to Cbur¢her's College Ente￿rIStS Limited for the proyisioo of staff and athninistrativ¢ seryi¢¢s. Chur¢her's College EllI¢￿T&S¢S Lirniled chaiged ChuTcber's College £101.473 12022.. £93,304) for swimming pool bire. At the yeor-end £105.072 (2022.. £36.367 ow¢d to chu￿her'S College) was owed by ChurcbeT'S College. Mr R May. a trnstee of the Charity and director of the C4)mpany. is also adirec¢or of Ramsac Limited. Duting the year eosis of £10.712 (2022.. £9.992) were incurred by the school in respKt of IT setvices fyotn Ramsac Limited. Page 50 -CH COLLEGE