2025-08-31-accounts

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 GOVERNORS, DIRECTORS AND CHARITY TRUSTEES The Governors of Churcher's College 1.the College") are thE College's charity trustees under charity law. The members of the Governing Body who served in office as Govemors during the year and subsequently are detailed below. The list also shows those Governors who are also director5 of the subsidiary company Churcherfs College Enterprises Ltd. Name Govemor Status (i) 141 C Strick Ichairl Co-opted {1) 12 131 14 J Bloomer Ivice Chairman) Co-opted (i) S Barrett (Retired March 20251 Co-opted {1) 12 131 141 S Beecham (Retired Marth 20251 Co-opted {1) C Bush (Retired December 20241 Co-opted A Cairns {from January 20251 Co-opted J Coke (from April 20251 co.opted J Franklin Co-opted T Henderson Co-opted R Ingram Co-opted Cjay Co-opted W Ajones Co-opted (i) {31 141 P Lawrence Co-opled {31 M Lei8h Co-opted Rmay Co-opted J Morris Co-opted D Mose5 Co-opted (i) 121 131 M Steven Co-opted Ipreviougly NominatÉsd Governor until March 2025) Junior School Paren15' A550ciation- Nominated Governor Junior School Parents. Association- Nominated Governor Senior School Parents. Association - Nominated Governor R Oates Iretired October 2U241 S Thomas (from November 2024) K Mitthell (from March 2025) 111 Management Committee IFinance and General Purposes: 121 Directors of the Subsidiary Company ChiJrr.hprf_% College Enterprises Ltd {31 Nominations and Succession Committee {41 Remuneration Committee During the year rhe artlvitie5 Df the Governing Body were sUPPOrted by three committees and a subsidiary board, the membership ofwhich is shown above for each Governor. At the end ofthe year there were 17 Governors. The maximum number of Governors allowed under the Articles of Associaticn remains 20. CHURCHER'S COLLEGE Page I

CHURCHER'S COLLEGE REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31st AUGUST 2025 OFFICERS {currently and throughout the yearl S Williams MA Bsc Headmoster- Churcher's College Mr N S Medley MPhys Bursor ond Clerf( TO the Govemors Mr Williams and Mr Medley are a150 dirertors of the subsithiary company Churcherfs College Enterprises Ltd. PRINCIPAL ADDRESS AND REGisfERED OFFICE Ramshill, Petersfield, Hampshire GU314AS AUDITORS Lewis Brownlee (Chichester) Limlted, Appledram Barns, Birdham Road, Chichester, West Sussex P020 7EQ BANKERS Lloyds Bank, S The Square. Petersfield, Hampshire GU32 3HL LEGAL ADVISORS & SOLicrroRS Veale Wasbrough Vizards LLP. Narrow Quay House. Narrow Quayi Bristol BSI 4QA WEBSITE www.churcherscoll e.com -&*" CHURCHEILS ~a" COLLEGE Page 2

CHURCHER'S COLLEGE REPORT OF THE TRu¥fEES FOR THE YEAR ENDED 31sr AUGUST2025 The Trustees present their report and the audited financial Statements of the charity for theyear ended 31 August 2025. The Trustees have adopted the provisions of the Statenent of Recommended Practice ISORPI "Accounting and Reporting by Charities" {FRS 1021 in preparing the annual report and financial statements of the charity. REFERENCE AND ADMINISTRATIVE INFORMATION Churcherfs College 1.the College'l was founded in 1722. The College's legal status is that of a charitable company limited by guarantee with company number 10813349 and a registyed charity number 1173833. The College operates two schools known as Churcherfs COll￿e Juniorschool and Nursery, and Churcherfs College Senior School. There is one Governlng Body for the two Schools. Details )f the members of the Governing Body, together with the College's officers and principal advisers, are given on pages l and 2. The College ha5 a wholly owned trading subsidiary Churcierfs College Enterprise Ltd (Company Number: 57703291 which operate5 and maintains a swimming pool at the Senior School. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing Documents The Company is governed by its 'Articles of Association. dJtumÉ¥nt whirh wa£ Adopted and approved by the Charity Commission with effect from I September 2017, and amen.Jed in 2020. Governing Bodv The Governirbg Body is self-appointin& with either 5-year (for Co-opted Members) or 3-year Ifor Nominated Members terms of office. Members returning at the end of these terms can be re-elected subject to the provision of a maximum two consecutive terms unless a further term is agreed by ttre Board as being in the best interesls of the Charity. New member5 of the Governing Body are elected followinE nomlnatlons from the Governors, from the Committees of the Parents, Associations. or from the Colle8e's officers basecl on Ihe c3ndlda(es' profe551onal qu(Ilities. exyei ieiice, personal competence and local availability. Re¢Tultment and Training of Governors New Governor5 are inducted into the working5 of the Colle6e and its sthools. intluding Governing Body procedures and school policies, at induction sesslons organised for them by the Head and Bursar. The new Governor5 a150 attend specialist training courses on the role and responsibilities ol charity trustees. Members of the Governing Body attend internal and external trustee training sessions and information courses designed to keep them informed and updated on current issue5 in the sector and regulatory requirements. Organisational Management The members of the Governing Body, as the charity trustaes and company directors, are le8ally responsible for the overall management and control of the College and its senigr and junior schools. They meet three times a year. A Management Committee IFinance and General Purposes} meets terrnly and is joined by the Headmaster and Bursar to whom the day to day running of the school is delegated, who in turn are supported by their Senior Management and Bursary Management Teams. il CHURCHEIIS COLLEGE Page 3

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGU5f 2025 Our Ethos, Strateg¥ and Pollcles Our Governors are responsible for Setting a strategy for achi￿1ng the objertives they have set. The focus of our strategy is on the development of our pupils, their continued high leve15 of academic and co-curricular achievement and to further widen access to the education our School provides. In taklng fonvard our strategy we.. review and benchmark the School's academic syllabus teaching and examination results: ensure the ranEe of co-curiicular aclivities available tc our pupils is stimulatin£ and challenging- invest in technology and the infrastructure of the School- co-operate and share resources with Iixal schools. continue to review and develop our methods for aW￿dIng bursaries and scholarships to ensure wider access to pupils from all backgrounds,. seek to review. promote and minimise the environmental impatt of the School business. A Caring School Servlng our Local Community and Sodety Churcherfs College is a charitable company limited by guarantee which seeks to benefit the publlc through the pursuit of its Stated aims. Our fees are set at a level to ensure the financial viability of the School and at a level that is consistent with our alm of providing a first-class traditional education -0 our pupils. Our School welcomes pupils from all backgrounds. To admit a prospective pupil. we need to be satisfied that our School will be able to educate and develop a prospective pupil io the best of their potential and in line with the general standards achieved by their peers. Entrance interviews and assessments are undertaken to satisfy ourselve5 and parents that potential pupils can cope with the pace of learning and benefit from the education we provide. An individual's economic status, sex, Eender reassignment. ethniaty, race. religion or disability do not form part of our assessment processes. We are an equal opportunity organlsation and are cornmitled to a working environment that is free from any form of discrimination on the basis of age, sex, marriage and civil partnership. gender reassignment, race, disability, sexual orientation, religion or belief, pregnancy and maternity and part-time or fixed term employment. We will make reasonable adjustments to meet the needs of staff or pupils who have a disability. Our School 15 committed to safeguarding and promoting the welfare of our pupils and expects all staff and volunteers to share this commitment. Parents are given regular information about their children's academic progress and social development and wellbeing through parent eveninES in add tion to half termly grading cards and traditional end of term and year reports. We also maintain regular contact with parents throughout the year through Informal conTacts and throuBh our various public3tions A strnng £r_hool-home partnership is a defining feature of the school. Senior School pupils have a Form Tutor (Personal Tutor in the Sixth Forml who is responsible for overseeing pastoral care and academic development, as well as a Hcad of House who provides continuity of care during a pupil's time at the school. Access Policy It is important to us that access to the education we offer is not restricted to those who can afford our fee5. We believe our puplls benefit from learning within a diverse communiti. A great deal of learning occurs through social interaction, conversation and shared experiences which helps our pupils develop an understanding of the perspectives of other people that will be vit31 in thg_ir adult lives. CHURCHER'S COLLEGE Pa£e 4

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 GENERAL AIMS & PHILOSOPHY OF THE SCHOOL Statement of Intent We aim to provide an outstanding all-round education for girls and boys aged from rising 3 to 18 across two sites.. the Junior School, which incorporates the Nursery. and the Senior School_ At all ages. and in all areas, we aim to instil a common ethos that promotes above all else the key qualities of.- care. co-operation. community, excellence, leadership and enjoyment,. that celebrates endeavour in a very broad range of opportunities and experiences. and that prepares the chlldren for life outside and beyond school. We seek to provide the widest range of experiences, but also the opportunity for children to achieve their full potential. Children at Churcherfs thrive in an atmosphere of high expectation but even higher achievement within a happy, well- disciplined, safe and caring environment. Excellent examination results are clearly important: the aciievement of these forms a core element of a child'% time here, but equally, the development of self-esteem, resil ence. tolerance. moral values and leadership are vitally important part5 of a child's education. We aim to inspire the pupi15 of Churcherfs College to becorne confident, responsible, respectful and selfless citizens, in a world, which will require glfted. flexible young people of chararter, dedication and compassion. By developinB the full academic, creative and sporting talents of the girls and boy& within the ¢ontext of social and environmental awareness. our aim is to fully prepare them for all they will fa￿ in the dynamic and challenging world in which we live. OUT ObJetti¥e> For Students.. To develop self-e5teem by encouraging and recognising involvement and achievements in activities both inside and outside the classroom and inside and outslde school. To value all activities equally. To encourage personal and collective ambition, challerEe and endeavour. To encourage academic independence. enterprise and to enjoy learning. To provide a range of opportunities and experiences to strengthen talents and key skills such as leadership. teamwork, sociability. loyalty, commitment. communication. sustainability. problern-solving, creative and criiical thinkin& inte8rlty, competence and self-assurance. To offer equal opportunities to all students. To promote equality of opportunity based on protected characteristics such as gender, age, dlsability, ethnicity, sexual orientation, religion and background. Tv PlUTT)Ote a seiise of physical and mentsl well-bcing. To prepare students for life beyond Churcher's. To facilitate access to the most appropriate pathway post Churcherfs, including access to top universities and the m05t competitive courses. To ensure education Is placed in the context of the soc ety in which we live. To create an inclusive community for the students where parents and the local community are involved in school life. where there is a strong school..horne partnership and an all pervading philanthropic spirit. To provide a continuity of care, ethos and accomplishrnent from 3 years old to 18. To extend support beyond Churcherfs. For Stoff.. To celebrate and recognise the contribution of all staff. Teaching and Operational. To aspire to be energetic. self-motivated and high achieving. To promote inclusion l involvement of all into Churcherfs school life both Inside and outside the classroom. To encourage collertive and personal ambition and development. - CHURCHERS COLLEGE Page 5

CHURCHER'5 COLLEGE REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31ST AUGusf2025 To inspire creativity and innovative approaches. To promote positive mental health and well-bein& and healthy home.work place balance. To maintain a community of carin& collegiate staff. To encourage all to lead by example. To encourage a 'can do attitude,. To continue to develop professionally. To make an active contribution to the academic. pastoral and extra<urricular life of the school. Strategic Development Plan The Governors and the School Senior Management Team re¥iew the School's Strategic Development Plan annually, and use it to gulde investment and initiative5 Within the annual planning and budgeting cycle. During the year 2024-2025 the Strategic Development Plan was comprehensively reviewed and updated to cover the nexr five-year perlod 2025- 2030. Alongside other areas, the Strategic Development Plan12025-20301 includes the following elements: The transition of leadership with the appointmeit of a new Headmaster followinE the retirement of the present incumbent in 2026. 2. The evolution of information technology to= embrace opportunitie5 With artificial intelligence and guard against the rlsks- rationalise and enhance the online platfoims used by the school; continue migration from paper-based le3rnin& including extending the scope of 'bring your own device, and further integration of the use of applications such as Teams and OneNote. Adaptations to tho addition21 prp¢gure on affordability arislng from busine55 rates and VAT on fees. 4. Expansion of the Junior School facilities and staffing to accommodate growing demand. Strengthening of our outreach provision including )t Junior 5th001 level. Develop new staff training and recruitment opportunities. Develop new protocols In accordan￿ with new legislation and guidan￿ eg. Martyn's Law, inclLtding invacuation and lockdown procedures. Fully launch and develop the'Futures Programme. to Brow professional connections and community relations. Widening access through, for example: now bus services- b. fvrther strengthening of the Richard Churcher Foundation: working Wlth or8ani53tions such a5 the Royal National Children's SpringBoard Foundation. 10. Extend extra-curricular and supra-curricular opportunlties. 11. Improvéd administration and monitoring (Jf p.xternal visits and extra-curricular activities. 12. Develop and document the School's Net Zero Strategy. 13. Consider alternative income streams, such as: increased lettings; external, 52-week Nursery provision. CHURCHEII'S COLLEGE Page 6

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 Charitable Purpose, Community Involvement, Outreach & Publlc Benefft To asslst access, the school operates a means-tested bursary scheme supported by the Richard Churcher Foundation IRCFI. Details of the RCF and the bursary awards are set out elsewhere in this report. The school is very actlve in the local community, with a nuw.ber of longstanding relationships with public benefit sitting alongside new projects added every year. Some of the hiBhlghts are as follows. Community Action Support- Penn's Place Path Buildin8 Project-june 2025 This year Churcher'5 College Community Action Servi￿5 ccntinued the project begun last year at the back of Penn's Place. The aim was to create a 140-metre path, enabling ihe people of Petersfield to walk from the Rother Nature Reserve to the Serpent Trail without getting wet feet. Prioi to our work, the path was impassable for ten months of the year. The task involved movin8 more than 20 tonnes of 8ravel entirely by hand and wheelbarrow. In addition, we mulched and weeded the remaining trees in the Tercentenary Wood, planted In 2022. Approxirnately 50% of the trees have survived-an attrition rate that was expected. Ourthanks go to volunteerAndrew Williams, who ha5 supported us throughout the year by keepin8 weeds do•in and helping to monitor the tree survival rate. This year also saw our highest level of student participation to date. Thirty-two Third Year students joined in on one day. while more than 90 Lower Sixth students took part on another. supported by eight KS3 students from the Green Team. A significant part of our Success is due to the strong partnership we have built over the years with the Friends of the Heath, led by Jordan Bleach. Their volunteers prepared the ground by laying wood before our arfival, and they also distributed the surplus gravel after the main work was complete. Looking ahead, we hope to complete the Penn's Place project next year. - CHURCHEIIS COLLEGE Page 7

CHURCHER'S COLLEGE REPORT OF THE TRusfEES FOR THE YEAR ENDED 31ST AUGUST 2025 Remembrance Parade and Concert The school supports Petersfield's annual Remembrance Parade by providing the Wind Band, technical equlpment, staff. and printing for the orders of Service. The school's CCF contingent also marches through the town, serving as a focal point of the ceremony. This important community event raijes vital funds for the British Legion. In addition. the school hosts an annual Remembrance Concert at St Peterfs Church, Petersfield, featuring the College Orchestra, Senior Choir. and other choral ensembles. The concert is open to the putlic. with all proceeds donated to the British Legion. Transport Support in the Community With the rising cost of transport, we support a numDer of bcal groups with access io our minibuJE5 to facilitate their trips and community work in and around the Petersfield. Hampshirelsurrey & Sussex Area. Primary schools in Froxfield. Sheet, steep, Liss, Herne and Liphook have used ourtranspott during the year. Liss Crossover Youth Group, Age Concern, King's Arm Youth Project and Scout groups have also regularly used our minibuses to support their community action. Music. Drama and Events In the Community During the year, the school's musicians were involved in a rvmber of events induding: GCSE musicians performing in local nursing home. Lunchtime concerts, Carol Services. Spring Concert ard Remembrance Concert in St. Peterfs Church. Petersfield, with proceeds to charity. Rock School on Saturday5 open to local community. Letting of facilities to local and regional bands and orthestras. On-going relationships with local and county music ensembles: Hampshire Youth Orchestra. Petersfield Orchestra, Petersfield Youth Theatre. Southern County Youth Jazz Orchestra. "**. CHURCHER'S COLLEGE Page 8

CHURCHER'S COLLEGE REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGU￿ 2025 Audio-visual & Technical Support in the CommunFty The school's technical team provided equipment and transpjrt for the Remembrance Sunday service. PA equipment for the Butser Hill Challenge. and occasionally loaned equipment to local amateur dramatic societies. Outdoor & Adventurous Activities in the Comrnunity Our Adventure Department continues to support Sheet Scouts by Pfoviding stsff, knowledge and guidance. providing their leaders with the opportunity to join our training weekends for DofE. Petersfield Scouts also often use the school facilities without charge for fundraising. Old tents and othei equipment have been donated to local Scout Groups. Sport in the Community Peter5field Rugby Football Club and the RFU Links with PRFC remain strong, with both or£anisations sh¥ing facilities to support thelr busy rugby programmes. The school provides tho club with free use of the Penns pla￿ playing fields for Sunday fixtures. while in return, the school uses the club's changing facilities for matches. Joint initlatives such as 'Friday Night Lights. help to merge the school and PRC communities, celebrating rugby in a vibrant shared setting. 'The Frank Guy Cup. at the end of the Autumn Term sees all year groups compete against PRFC in a Festival of Rugby under the lights of the PRC pavilion. The school has also supported the delivery of RFC CPD and Community Courses, providing the venue and equipment for these sessions, which are open to external coaches and offi-ials. Swlmming Pool Loc31 School User Groups Our excellent swimming pool facility continue5 to be utilised for local school use in and around the School timetable. structured swlmming lessons are provided on an 'at cosy basis for Herne Junior School, Froxfield Primary School, Liss Junior & Inlants School and Langrlsh School. SwimminE Pool External Club User Groups The school provides use of our swimming pool and facilities for meetings and gym Spa￿ and land training for a number vl exlernal or6anisation3 and group5 including Portsmouth and Distrirt Synchronised Swimmin8 Cliib. CHURCHERS COLLEGE Page 9

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 Butser Hill Challenge Churcherfs continued its tradition of organising the annual Butser Hill Challenge, a much-loved local running event that the school has proudly supported for many years as a sponsor. This unique ra￿ holds the distinction of being the UK'S most southerly fell run. with the adult course covering five miles and featurinE multiple ascents of Butser Hill, one of the highest points on the South Downs. The event also includes children's races. from Year 3 through to Slxth Form, alongside the senior race. Over the years, the Butser Hill Challenge has raised many thousands of pound5 for local charities. This year's charity partner was The New Blendworth Centre, which provides day provision for post-19-year- old5 With a range of learning difficulties and disabilities. The Centre offers work-orlented placements designed to support individual goals, encourage friendships, and promcrte confidence, independence, and self-esteem. The 2024 event was a great Su￿Ss. The school age races proved the m05t popular with children from local schools competing from year 3 to year 11 age groups and many sixlh formers taking on the full 5 mile fell ra￿. Summer SolstiC4b Event R3ising Funds for Homestart Butser Churcherfs continued its partnership with Queen Elizabeth Country Park and The Sustainability Centre in supporting the community event Summer Solstice Challenge an 18km (Nemight walk along the South Down5 Way from Beacon Hill to the peak of Butser Hill at sunrise on the 5015tice. The 5vhool provided infrastructure and logistical support, with a large number of pupils. parents, and staff volunteering to narshal the event. Thanks to the expertise of our Adventure Department and staff, around 250 participant5 were safely guided along the route, much ol it in complete darkness. At the summit, walkers were welcomed by mefflbers of a Druid society who perfomed an inspiring Solstice ceremony to greet the rising sun. - CHURCHER'S COLLEGE Page 10

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 315r AUGUST2025 Flrst Aid Outreach Our in-house first aid trainer delivers regular courses (typically 1-3 per term) for staff. with any remalnlng spaces offered free of charge to local community groups. We reserve two tharity pla￿S on each course and, overthe past three years, have provided training to staff and volunteer5 from Queei Elizabeth Country Park, Butser Ancient Farm, The King's Arms, and The Whitehill & Bordon CommunityTrust. Local Charity Facllity User5 We continue to provide free use of facilities to our partner charities who use our facilitles for their fLtndraising events throughout the academic year, induding: But5er Home Start- AGM and Fundraising Quiz Night Rosemary Foundation- Fundraising events indude Petersfield Fringe Festival & Christmas Market. We also host their Lights of Remembrance service Petersfield and District Scout- use of the climbing wall and field facllltles plus other ad-hoc events Shine Radio - Annual volunteer trainin8 event Petersfield Dementia Friendly - tea dance for local residents 5ufferlng from dementia. The Charities Committee The Charities Committees at both the Senior and Junlor Schjols are very actlve, with decisions and nominated charities being decided on by the students. During the school year 2C24125 events run by and involving the pupils raised £27,959 for a range of charities and organisations. The key fundraising events included the Butser Hill Challenge. the Senior School Charity Afternoon and non-uniform days at both sclKJoIs. School In a Bag Charlty Partnership 'School in a Bag. is our main school charity partner. an initiative that delivers rucksacks full of ststionary, learning resources and eatin8 Utenslls to poor orphan, vulnerable and disaster affected children. The CEO of School in a Bag, Luke Simons, came into Churcherfs to deliver the whole school assembly ahead of our October non-uniform day where each pupil donated money to the charity. In addition to th? assembly, a production line was set up in the gallery and the I" year pupils expertly packed 200 bags with equipment ready to be sent off to Ukraine with each bag containing a tracking number for the pupils lo see where exactly their bag was sent to. CHURCHER'S COLLEGE Page 11

CHURCHER'S COLLEGE REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST2025 Wear Somethlng Pinv Day We held our annual 'Wear Something Pinv Day in aid oflsla Pieri {2011-20231, for Shooting Star Children's Hosplce. Whole School Charity Afternoon and Relay Finals The end of year charity aftemoon was a huge Succ￿, combining an inflatable fete with the house relay finals. Charity Committee Event5 Christmas Save the Children Christmas Jumper Dai" ljunlor & Senior) Relndeer Run in Aid of Chestnut House Ilst Yr) Lower School Disco Ist-2nd Yrs in support of StonÉpillow Charity Haunted Library Event for Roald Dahl Marvellous Children's Lhariry Non-uniform Days in support of School in a Ba& Cancer Testing South , Action Through Enterprise. The Samson Centre - CHUKCHER'S COLLEGE Pa£e 12

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 The Benefartors. Reception At the end of November. the Richard Churcher Foundation was pleased to host the second Benefactors. Reception in the Donald Brooks Auditorium. The event provided an or4)ortunity to extend sincere thanks to more than seventy members of the Churcher's community for their generous support of the Richard Churcher Foundation and the Development office initiatives during the year. In his address. the Headmaster reflected on how such contributions can be truly traE)sformative for bursary recipients, while also geneiatin8 a broader and lasting benefit for the entire school community. 100 Years of Rugby We were delighted to welcome over 70 Old Churcherians, f)rmer and current staff to the Churcherfs Rugby Centenary Lunch in November, to celebrate 100 years of rugby being pkyed at the school. Our Guests supported the 1st XV in their match against John Fisher School On Memorial Field before being treated to lunch in the Assembly Hall where thev were 8150 each 8iven a copyofchurcherfs Rugby 1924to 2024. We weredelighted to welcomeformer pupil and capped England and Brit15h Lions player, rim Rodber1871 and very grateful for his speech over lunch. The audience delighted in hearing his stories from his time in Churcherfs. Northampt(￿. England and Brit15h Lions shirts. 4. 1722 Society Lunch In June, members of the 1722 Society were invited to luncfr by the Headmaster. who thanked them for their generous support to the Richard Churcher Foundation. The biennial ￿ent 15 attended by like-minded donors from our community who have made significanE gifts or legacy pledge5 in Supwlt of the school's provision of bursarie5. During the lunch, current Captain of College, Freya Wilson and Deputy Captain of Colle8e, Dom Jolliffe spoke about thelr personal experiences of their time at Churcher's and the strong foundation5 and personal skills they have developed as they look toward to life after school. Both reaffirmed the value and impact the school has had on their lives, whlch lies beyond the reach of so many without the help of the Foundation. CHURCHER'S COLLEGE Page 13

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sr AUGU5T2025 Pupil Ivumbers and Fees Our educational activities are carried out through our Senior and Junior Schoo15. The average number of pupils at the Senior School was 1.06512023/24 aveTage.' 10481 and at the Junior School the average was 24512023124 average.. 2391. Our 22 Nursery pupils12023124 average.. 17} attended a chosen number of sessions across each week With the imposition of VAT on school fees from January 20.5. a new fee structure was implemented for the Spring and Summer terms of 2024125 as follows.. 2024125 Spring & Summer Terni Tuition Fees, Per Terni Basic Tuition Fee. &75ITC Tuition Fee excluding VAT including VA T Rece tion Year 2 4,445 5,334 Year 3-Year6 4,745 5.694 Senior School (all years) 6,650 7.980 . A discount of 3.5% opplies to Tuit￿ FeesforSpring Term onwords paid on time by Direct Debit After DD discount including VA T 5,147 5,495 7.700 The Governors review fees annually with respect to affordability, inflation, and thelr desire to preserve the school's breadth and quality of educational provision while maintaining the competitive position of the School's fees in comparisoll to other independent schools in the region. In the light of the affordability challenges presented to parents by VAT, the Governors sought to contain the fee increase for 2025126 to a minimum. resulting in an increase of 4.0% overall <15 beluw". 2025126 Tuition Fees. Including VAT Discounted DD Fee Per Term £ 5.150 5.770 5.950 7,99: Discounted DD Fee Per Year£ 15,450 17,310 17,850 23,985 Boslc Fee Per fem] £ 5,335 5,980 6.165 8.285 Reception - Year 2 Year 3 - Year 4 Year 5 - Year 6 5enlor School (all yeaisl Acodemlc A Level Results 2025 5t is a challenge to know which of Churcherf5 College successes over the summer deserves most applause.. the two Churcherfs swim-teams that successfully conquered the English Channel crossing,. the orchestra and jazz band who enjoyed Standing ovations on their tour to Barcelona: our rugby and netball successes in South Africa, a second year running when one of our A Level artists is recognised as being one of the very best in the country- or a set of A Level exam results that, yet again. break records. Laying aside the three years of COVID adjustments, we have reached new heights with 90% of all the exams being graded at A* to B grade and also being almost at the top with our A. and A Grade5. . CHURCHERS COLLEGE Page 14

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 Year %A"&A %A"toB %A'toC %A'loD %A"loE CaTh*datey 113 2017 2018 2019 2020 2021 2022 2023 2024 2025 18.3 22.2 26.3 36.0 30.8 422 28.7 21.2 23.9 47.1 55.8 63.2 709 70.7 73.3 59.1 58.1 62.0 77.7 87.8 85.8 937 91.5 923 81.3 88.6 90.9 92.5 97.7 96.8 995 98.9 97.2 95.5 97.3 97.3 98.3 100.0 98.6 100.0 100.0 99.4 98.8 99.8 99.2 100.0 100.0 100.0 100.0 1000 100.0 99.8 100.0 100_0 99 113 130 122 150 154 155 169 Amongst the catalogue of personal success storie5 of the 169 in our A Level cohort, there are 12 students who have achieved three or more A. grades with three achievin£ a clean sweep in four A Levels. Once again. there will be Churcherians heading off to the most prestigious universilie5 across the UK and a few now venturing to universities abroad. Their exceptlonal A Level grades are golden passports to those top destinations but, of course, more is needed to make a success of university or beyond and this is where all the experiences and achievements outside the classroom corne into play. The self-confidènce that comes from overcoming huee challpngp< Éuth as swimming across the Channel: the 5elf- discipline that develops from learning a musical instrument and the teamwork from performing on the international stage; the problem-solving and crealive skills that are behind a prize-winning artisvs achievements. and many other life skills that are critical to success. It is the Churcherian enthusiasm to embrace all the opportunities inside and outside the classroom that brings such reward and the very we1141eserved applause, and sets them up so well beyond their school days. - CHURCHER'S COLLEGE Pa8e 15

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUSt 2025 GCSE Results 2025 Nature has a tendency to move towards balance and so. after our record-breaking A Level results, we had assumed that there would be a little less sunshine on our GCSE results here at Churcherfs- but far from Itl Laying COVID adjusted years aside, our Grade 9 level, and our Grade 8 plus 9 percentages are personal bests- another year of huge reward for all the Year 11 pupils at Churcherf5 and another year with cause for great celebration. 2018 22.0 43.5 83.9 2019 26.0 49.8 62.5 71.2 2020 35.5 &5.0 100.0 100.0 2021 30.3 56.4 93.5 100.0 1￿).0 25.6 49.4 74.1 97.5 99.4 2tr23 20 23.4 49.4 51.6 74.0 97.7 1(Y).O 100.0 25.5 74.9 93.0 2025 27.9 51.4 74.0 91.2 99.8 100.0 What makes these results even more spectacular is that they are accompanied by huge achievements outside the classroom as well as inside= for example, Leo, who appears in the new Disney Snow White film. achieved a quite exceptional 11 out of 11 GCSES at Grade 9, and he was not alone in enjoying a clean sweep of the top grade,. Charlie, wlio recently represented Wales in the girls. Ul8 Six Nations rugby tournament, avera8Èd close to Grade 8 in hpr exams and, at a time when there is much in the press about Ukraine, it was delightful to note that Gri5ha and Varvara, two of the Ukrainian children we look after here. overcame so many hardships and both also achieved close to an average of Grade 8 across their 11 or 10 GCSE exams. Now that is quite exceptional. Certainly. another day with so much jny and rpward for all at Churcherfsl Ges GCSÉ - CHURCHER'S COLLEGE Pag> 16

CHURCHER'S COLLEGE REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31￿ AUGUST 2025 Extra-curricular Actlvltles The school offers a wide range of extra-curficular artivities that help to boost pupils. self-confldence and Support their overall well-being. These activities fall under six main cate8ories: cerebral, creative, adventure. enterprise, altrulstic. and physical. Many of these opportunities are made possible thanks to the support of parent volunteers, whose involvement has enabled both the growth and diverslty of the prograrnrne. Amon8 the activities on offer are OSCA-an outdoor adventure programme undertaken by nearty all Second-year puplls-the Duke of Edinburgh Award Scheme, the Combined Cadet Force. and major endurance challenges s￿h as the Devizes to Westminster Canoe Race. the Ten Tors Challenge on Dartmoor, and the Welsh 30005 Challenge. The CCF continue5 to be very popular with 320 cadets regularly attending across the three service5. Ten Tors gave the opportunity for two teams of 6 to take part in the chal enge with 10 females in the number. The 45-mile team represented a first for Churcherfs with an all-female L6 team. Having survived the training six L6 students completed the gruelling Devices to Westminster Canoe Race. A team of 6 L6 students took part in a record-breakin£ Welsh 3000 attempt finishing a1115 peaks in 19 hours and 38 minutes. CHURCHeRs CO TEN T&BS - CHURCHER'S COLLEGE Pagts 17

CHURCHER'S COLLEGE REPORT OF THE TRusfEES FOR THE YEAR ENDED 31ST AUGUST 2025 IF -,JTrrt CHURCHER'S COLLEGE Page 18

CHURCHER'S COLLEGE REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31ST AUGusf 2025 The Duke of Edinburgh Award pro8ramme has continued to grow. with 231 pupils completing their awards in 2024125. DofE Awarts C¢mpleted 202112Z Z02z123 2023124 2024125 Gold 39 40 57 52 Silver 56 56 93 Bronze 102 125 112 iii Total 197 221 262 231 CHURCHER'S COLLEGE Page 19

CHURCHER'S COLLEGE REPORT OF THE TRusfEES FOR THE YEAR ENDED 31ST AUGUST 2025 Academic clubs include the debating club, Scien￿ clubs, computer dub. chess and other brain games, which are held in the Library. Creative clubs include drama, dance, LAMDA, fashion and textiles, and the Green Power. Over 400 pupils are involved in music every week in addition to their music lessons. ApprJxim3tely 20 pupils are invotved as a Tech Team assisting in variou5 produclions. Green and Eco Incentlve5 The school conlinues to involve pupils in pursuing a range of eco initiatives under the Green Flag scheme launched by Eco-schools. focusing on water, transport. marine and air quality. This year, the Green Tearn ha5 focused prirnarily on educat on and raising environmental awarene55 acr055 the school community. Finally, the Green Team played a key role during the Community Action Service Day at Penn's Place, where we took the lead in mulching activities to support the maintenance and arowth of the Tercentenary Wood. - CHURCHEII'S COLLEGE

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGusf 2025 Sport Results 202212023 Girls 202312024 Boys Gills 82% 2024125 Gir15 Boy5 73% 65% 115 55% li 58% 55% 167 Rugby 65% 127 62% 13 60% 55% 122 Pla ioi R￿b¥ fs Ma io Hockey 45% 131 55% 191 11% 52% 170 55% 166 Played i.vii 146 42% 51% 182 Netball 55% 144 Cricket i'xi 51% 62 75% 55% 45 43% 77 37% 62 75 67 Tennls 1st CHURCHER'S COLLEGE Pag￿ 21

CHURCHER'S COLLEGE REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31ST AUGU￿ 2025 - trITOTAL 76 WKTS 9 LAST 79 CHURCHERS COLLEGE Page 22

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 Music & Dramu The continuing enthusiasm for Music and the growing enthu5ia5m for Drama is clear from the number of exam certificates being awarded. Music & Drama Grade I 2022123 2023124 2024125 Music Drama Music Drama Music Drama li 38 38 30 37 15 20 22 25 15 20 17 25 30 37 49 35 24 13 13 22 41 26 28 18 li iio 14 140 li 93 16 174 25 205 TOTAL 107 There are currently more than 400 individual music lessons which take place weekly. and the many groups and ensembles include.. Senior Choir Jazz Band Senior Wind Band Junior Choir SSA Choir Senior Chamber Cholr Junior Chamber Choir Senlor Jazz Quintet Blues Group Orchestra Junior Jazz Improvisation Group Four Brass Groups lQuartÈtsl Guitar Group Saxophone Group Junior Wind Band Junior Strings Clarinet Group Recorder Group Flijtp Cirnup Singer/Songwriter Club Five String Quartets Music Teach Club Rock School Barbershop Group - CHURCHERS COLLEGE Page 23

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 315r AUGUST 2025 i• 4,1'.1 .,1 .k-y. J, - CHURCHERS COLLEGE Page 24

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGusf 2025 c-i)I tÈGI CHURCHIR'S COLLEGE tRE PLA Y-tIF IniF.ST ESIL V 'A MIDSUMMER ' WIg¥.T'SD8EW , al DANCE 8 LAMDA SHOWCASE 24 JUNE2trL6 19-21June2024 lot CHURCHER'S COLLEGE Page 25

CHURCHER'S COLLEGE REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 FUNDRAISING PERFORMANCE The fundraising activities of the school are focused through the Richard Churcher Foundation IRCFI, whlch is a restricted fund. In accordance with our reserves policy and RCF Objecti￿e$ it is intended that the capital value of the fund be grown to facilitate the permanent funding of long-term bursary 5U)port for pupils from families suffering hardship. During the year the sum of £119,62712023124= £102.5081 wa5 allocated to the school for bursary funding. being the rental income generated from the RCF'S three properties Flus a Share of the school's lettings, swim school and other income. By allocating only the RCF'S income and school doiations, the full value of thls yearfs external donations has been retained as Erowth in the RCF, accelerating its ability to fund bursaries from RCF income in future years. External donations to the school increased to £608.755 {2023124: £393,772), which included a property gifted to the school by an Old Churcherian. Donations to the RCF from the school's other income were £59.77712023124: £59,758). Overall, the RCF Fund value increased in the year to £2.493￿9O12023I24.. £1,841,484). FINANCIAL AWARDS Scholarships and Exhibitlons are awarded in recognition o- academic excellence and exceptional contribution to the community of the school andlor the wider communlty of Petersfield. Exhibitions may also be awarded to those whose involvement in activities within the school are at an excepti?nally high level. Bursaries are awarded to existing pupils of the Coll@89 and Alqn tht)_%p pntering at Il+, 13+ or 16+. The awards are based upan a clearly identified need. Pupils who have been awar(kd a scholarship may apply for additional support but these are likely to be awarded only in exceptional circumstances. Bursaries are awarded at various levels from 15% to lOO% of fees, with increasing numbers of higher awards in recent years. Bursaries typically remain in place for l or 2 years before they are reviewed or until there is a significant change in parental income or assets. Analysls of Bursary and Scholarship Awards 2020/21 2021122 2022123 2023124 2024125 Nel Fee Income 15,451,794 16,851.121 18,774,572 20,920.974 22,257,718 Buisarles 429,757 642.470 687.644 786A34 836,277 % of Net Fee Income 2.78% 3.81% 3.66% 3.76% 3.76% Scholarships 165,248 181.057 183,335 191.961 190.988 % of Net Fee Income 1.07% 1.07% 0.98% 0.92% 0.86% The above means-te5ted bursaries assisted 63 pupils {2023124: 67). of whlch 2712023124- 211 benefited from a full remission of fees. CHURCHER'S COLLEGE Page 26

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31¥r AUGUST2025 FINANCIAL REVIEW The key financial results for the year were as follows: £OOO's Junlor School & Nursery 2023124 2024125 Senior School CCE Comblned", 2023124 2024125 2023124 2024125 2023124 2024125 Gross Fee Income 3.271.2 3.509.6 19.700.3 20,899.7 22,971.5 24,409.4 Net Fee Income 3.062.2 3,249.9 17,858.8 19.007.8 20,921.0 22,257.7 Lettings Income 13.1 29.8 29.4 189.0 185.2 224.0 227.7 Surplus1lLossl Surplus1lLoss11 Net Fee Income % {181.01 {510.8) 1.962.0 2.S26.5 (30.31 {16.41 1.750.7 2,000.4 ii.ox 13.3% 8.4% 9.0% -5.9% -15.7% Net fee income lexcluding VATI Brew by 6.4% over 2023124, resulting from an increase in pupil numbers of 1.8% plus the net effect of a fee rate increase of 6.5% less a new direct debit discount of 3.5% introduced from January 2025. Despite additional costs arising from the10s5 of charitable relief on business rates from April 2025, the Net Income surplus increased to 9.0% of Net Fee Income12023124: 8.4%). thanks to returns on investments includin8 government bond yields and reduced ener6Y C05t5 along with the ontroff recovery of pre-registration VAT followinB thè School becoming VAT registered with effect from 30 October 2024. The surplus enables the repayment of debts and on-goin8 Lzpital Investment into the infrastructure of the school. As a charity the parents of our pupils have the assurance that the income of the school must be applied for education purposes. As an educational charity we have enjoyed tax exemption on our educational artivities and on our investment Income and gains provided these are applied for our charitajle aims. As a charity we were also, until April 2025, entitled to an 80% reduction on our business rates on the property we occupy for our charitable purposes. The financial benefits that accrue to the school from any tax reliefs are applled for educational purposÈs_ Since January 2025 school fees invoiced to parents have been subject to VAT. and as an employer the school pays tax through employer National Insurance contributions. In addition to the very substantial benefits our School brinE5 to our pupils. the local community and society through the education we otter, our bursary programme creates a soclal asset without C05l lu ilie Exchequer. CHURCHER'S e>" COLLEGE Pago 27

CHUACHER'S COLLEGE REPORT OF THE TRusfEES FOR THE YEAR ENDED 315T AUGUST 2025 Reserves Level & Pollcy The policy of Churcher's College is to maintain sufficient unrestricted income reserves to enable it to meet its 5hort-. medium- and long-term financial obligations in the event of an unexpected revenue shortfall. A key objective is to malntain a strong balance sheet of we l-maintained assets supported by effective long term bank facilities. We also aim to produce an annual surplus before depreciation in ex￿55 of 5% of net fee income, in order to provide funding for capital projects and on-going improvements to the Estate. This will be achieved by maintaining a Competitive fee structure reflecting the services provided t) parents and their children and by setting annual budgets for costs which are strictly monitored for efficiency. The school will continue to manage its operations and mantain reserves at levels agreed by the Goveming Body to ensure access to fundin8 for resources for the day to das" and longer-term activities. This includes maintaining the School's assets and facilities, holding investments to mainta n the value of reserves and the use of long-term borrowing where required. The school will continue to utili5e banking facilities Such as loans to allow investment in new facilities but ensuring risk is mitigated a5 far as possible, that gearing ratios are maintained at acceptable leve15 and that overall debt levels are at a comfortable level in comparison to income and assets. Pay and Remuneration The Governors are committed to the recruitment, retention and fair remuneration of its school staff. In setting the ielèvant pay scale rate5 for both teachlng and 5UPPOrt stsff a range of factors are consistently evaluated annually including national pay awards. sector benchmarkin& local economic factors and of tourse the budgetary position of the school. The rernuneration and employment terms of the key mana8ement personnel induding the Headmastei and Bursar are reviewed by the Governors on an annual basis. Risk Management The Governors are responsible for the overseeing of the risks faced by the school. Detailed considerations of risk are delegated to the sd)ool's senior management. Risks are identified. assessed and mitigated through the application of contro13 throu£hout the year. A formal review of the charit¢s risk management processe5 is undertaken on an annual basis. Risk is managed under the headings of Governance and Management. Compliance, External Factors. Admissions, physical Disasters, Operational Matter-, Information Technolo8y. Health anc Safety. Employment and Human Resources, Reputation. Financial Sustalnablllty, Pupil Welfare. Through the risk management processes established for the school, the Governors are satisfied that the major risks Identified have been adequately mitigated where necessary. It is recognised Ihat systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. The Governors examine the major risks that the school fa￿S each financial year when preparing and updatinE the strategic development plan. The Charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the College in the future. CHURCHER'S COLLEGE Pag- 28

CHURCHER'S COLLEGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 Trustees, Statement of Accounting and Reportlng Responybillties The Trustees are responsible for preparing the Trustee5' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited ￿ngdoM Generally Accepted Accounting Practice). The law applicable to charities in England and Wale5 requires the Trustees to prepare financial statements for each financlal year which give a true and fair view of the state of affairs of the charity and of the incoming resour￿S and application of resources of the charity for that period. In prejaring these financial statements. the Trustees are required to: select suitable accounting poliae5 and then apply them consistently observe the methods and principles in the Charities SOIP IFRS1021 make judgements and estimates that are reasonable and prudent state whether applicable accounting standards have been followed, subject to any material departures dlsclosed and explained in the financial statements prepare the financial statements on the going con￿rn basis unless it Is inappropriate to presume that the charity will continue In operation. The Trustees are responsible for keeplng sufficient accounting records that disclose with reasonable accuracy at anv time the financial position of the charitable company and enable them to ensure that the accounts comply with the Charities Act 2011, the Companies Act 2(M16 and the Charity IAccounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarditE the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irre8ularitie5. In so far a5 the Trustees are aware: There is no relevant audit information of which the Ch￿itable company's auditor is unaware- and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audlt information and to establish that the auditor is aware of that information. Charrties Arl 2011 The Trustees have due regard to their duties under Section 17 of the Charities Act 2011 in relation to public benefit and have reviewed Charity Commission guidance. Relevant Audlt Information Insofar as each of the members of the Governing Body, at ths date of approval of this report is aware there is no relevant audit information linformation needed by the charitable compan*s auditor in connection with preparing the audit report) of which the charitable company's auditor is unaw3re. Each member of the Governing Body has taken all the steps that he or she should have tsken as a member of the Governlng Body in order to make himself or herself aware of the relevant audit information and to establish that the charitable cornpanrfs auditor is aware of that information. Approved by the Governing Body of Churtherfs College on 4 December 2025. Charles Strick Ichair of Governing Body) CHURCHERS COLLEGE Page 29

CHURCHER'S COLLEGE CON50LIDATED sfATEMENT OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31ST AUGUST 2025 2025 Total funds 2024 Total funds Unrestricted funds Restrirted funds Endowment funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Charitable activities Education and grant making other incoming resources 119.627 301,483 675.779 97.082 795,406 398,565 562,296 124,864 26,493,782 230,214 26,493,782 230,214 24,601.985 225.247 Total 27.145,106 772,861 27.917,967 25,514,392 EXPENDITURE ON Ralsing funds Charltable activitles Education and grant making Trading subsidiary expenditure 59.T17 59.777 59,758 24,767.955 316,859 124.853 24,892,808 316,859 22,970.504 328,571 Total 25.144.591 124,853 25,269.444 23.358,833 NET INCOME BEFORE TRANSFERS 2.OCMJ.515 648,008 2,648.523 2.155.559 Transfers between funds 26 NET INCOME 2,OCKI.515 648.008 2,648.523 2.155,559 Other recognised galns/1055es Gainsllosses on investment assets Actuarial gains11055es Dn defined benefit schemes 63.324 4,398 67,722 b8,841 Net movement in funds 2.063,839 652.406 2,716.245 2.225,400 RECONCIUATION OF FUNDS Total funds brought forward 13,936.859 1.841,484 7.440.477 23,218,820 20,993,420 TOTAL FUNDS CARRIED FORWARD 16.000,698 2,493,890 7,440.477 25.935,065 23.218,820 The notes form parl of these finanaal statements CHURCHER'S COLLEGE Page 33

CHURCHER'S COLLEGE CONSOUDATED BALANCE SHEET FOR THE YEAR ENDED 31ST AUGUST 2025 2025 Total funds 2024 Total fund5 Unrestricted funds R*tricted funds Endowment fund5 Notes FIXED ASSETS Tangible a55ets Investments Investment5 Investment property 14 22,948.863 7.440,477 30.389,340 30.046,244 16 17 5.125,240 19.548 L872.500 5.144.788 1.872,5 6,687,066 1.330.000 28.074.103 L892.048 7.440,477 37.406.628 38,063,310 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 18 19 1.264 2.440,389 2.716,515 1,264 2.440.389 3.318.357 1.333 559.399 2,445,511 601.842 5.158.168 601,842 5,760,010 3,006,243 CREDITORS Amounts falling due within one year 20 (9.640.227) 19,640,227) 18,165,882) NETCURRENT LIABILThIES (4.482,0591 601,842 13.880,217) 15,159.6391 TOTAL ASSETS LESS CURRENT LIABILITIES 23,5912.044 1493.890 7,440.477 33,526.411 32,903.671 CREDITORS Amounts falling after more than one year 21 17,591.3461 17,591.3461 19.684.851 NET ASSETS 16,IKK).698 2,493.890 7.440,477 25,935.065 23.218,820 FUNDS Unrestricted funds Restricted funds Endowment funds 26 16,000,698 2,493,890 7,440,477 13,936,859 1,841,484 7,440,477 TOTAL FUND5 25,935.￿5 23,218,820 The financial Statements were approved by the Board o mber 2025 and were signed on its behalf C Strick - Chair J Bloomer- Vice Chair The notes form part of these financial statements CHURCHER'S COLLEGE Page 34

CHURCHER'S COLLEGE BALANCE SHEET FOR THE YEAR ENDED 315T AUGUST 2025 2025 Total funds 2024 Total funds Unrestritted funds R?stricted funds Endowment funds Notes FIXED ASSETS Tangible assets Investments nvestments Investment property 15 21,241,575 7,440,477 28,682,052 28,282,636 16 17 6,725,240 19.548 L872.500 6,744,788 1,872,5C 8,287,066 1,330,000 27,996.815 L892.048 7.440.477 37,299,340 37,899,712 CURRENT ASSETS stock5 Debtors Cash at bank and in hand 18 19 1.264 2,683.189 2,712.9Jl 1,264 2.683.189 3.314.743 1,333 836,769 2,436,764 601,842 5.397,354 601,842 5,999,196 3,274,866 CREDITORS Amounts falling due within one year 20 19,620.876} 19,620,876) {8,136,0141 NEfcuRRENT LIABILITIES 14,223.5221 601,842 13,621,680) {4,861,1481 TOTAL ASSETS LESS CURRENT LIABILITIES 23.743.293 2.493A90 7.440,477 33,677,660 33,038,554 CREDITORS Amourkts falling after more than one year 21 17,S91,3461 17,591.3461 19,684.8511 NET ASSETS 16,151,947 2,493.890 7.440.477 26,086.314 23,353.703 FUNDS Unrestricted funds Restricted funds Endowment funds 26 16,151,947 2,493,890 7,440,477 14,071,742 1,841,484 7,440,477 TOTAL FUNDS 26,086.314 23,353,703 The financial statements w re approved by the Board of Trustees on 4, an were signed on its behalf C Strick- Chair J Bloomer- Vice Chair The notes forrn part of these finanaal 5taternents CHURCHERS COLLEGE Page 35

CHURCHER'S COLLEGE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2025 2025 2024 Notes Cash flows from operatlng activities: Cash generated from operations 230.816 10.194,168 Cash flows from investing activities: Purchase of tangible fixed assets Disposal of fixed assets Purchase of fixed asset investments Sale of fixed asset investments Purchase of investment properties Dividend & interest received 11,087.6161 43,794 (809,3261 660,650 16.605,969) I.610.￿0 {380,000) 82,114 338,715 Net cash provided by (used in) Investing activities 904,893 17.052,5311 Cash flows from financing actlvltles: Loan repayments in year 1262,8641 1256,291) Net cash provided by (used in) financing artlvltles 1262,8641 1256,2911 Change in cash and cash eqyivalents in the reporting perlod Cash and cash equivalEnts at Ihe beginnins of the reportlng period 872,845 2,885,346 2.445,512 1439,8341 Cash and cash equivalents at the end of the reporting period 3.318.357 2,445,512 The notes form part of these financial statements - CHUtLCHEIIS COLLEGE Pag# 36

CHURCHER'5 COLLEGE NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST2025 RECONCILIATION OF NEf INCOME TO CASH FLOW FROM OPERATING A￿1v￿lEs 2025 2024 Net incomellexpenditure) for the reporting period (as per the statement of financial artivities Adjustments for: Gifted propertv Depreciation of fixed assets Dividends & interest re￿iVed Ilncreaselldecrease in stocks Ilncreaselldecrease in debtors Increase/ldecreasel in creditors 2.648,523 2,155,559 1542,5001 700,726 1338,7151 69 {1.880,9901 1356,2971 684,250 182,1141 15981 1210.7041 7,G47,77 Net cash provided by operating actlvlties 230,816 10,194,168 ANALYSIS OF CASH AND CASH EQUIVALEl￿s 2025 2024 Cash at bank and in hand 3,318.357 2,445,512 Total cash and cash equivalents 3,318.357 2,445,512 The notes form part of these financial Statements - CHURCHER'S COLLEGE Pag> 37

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31ST AUGUST 2025 sfATEMENT OF COMPUANCE Churcherfs College is a Public Benefrt Entity registered as a charty in En8land and Wales and is a company limited by guarantee. The members of the company are the Governors who are also Directors of the company. In the event of the company beinE wound up, the liability in respect of the guarantee is limited to £1 for all serving Governors. It was incorporated on 12 June 2017 (company number 108133491 and registered as a charity on 14 July 2017 Icharity number 11738331. The registered office is Ramshill. Petersfield, Hampshire GU314AS. The financial statements are presented in sterllng which is the funttional currency of the group and rounded to the nearest pound. The Group's financial statements have been prepared in compliance with FRS 102 as it applied to the financial statements of the Group for the year ended 31st AuJust 2025. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all Years presented unless othefwise stated. ACCOUNTING POLICIES Basi5 of preparlng the financial statements The financial statements of the charity. which is a public benefit entity under FRS 102, have been prepared in accordancé with the Charitiés SORP IFRS 1021 'Aceountine and Rppnrtine by Charities= Statement of Recommended Practice applicable to charities pr"parin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Repubfic of Ireland IFRS 1021 (effective l January 20191,, Finarscial Reporting Standard 102 'The Financial Reporting st￿dard applicable in the UK and Republlc of Ireland. and the Charities Act 2011. The financial Statements have been prepared under the historical cost convention with the exception of investments and ￿rtain tangible fixed assets which are included at market value. Consolidation The financial statements incorporate the results of Churchef s College and its wholly owned subsidiary Churcherfs College Enterprises Limited (Company number= u5JiUi2yI, prepared on a Ilne-by-llne basls. Exemption has been tsken from including the unconsolidated statement of financial activities of Churcher's College in accordance with section 408 of the Companles Act 2006. Crftical accounting judgements and key sour￿5 of estlmatlon uncertalnty In the application of the accounting policie5. Dir¥tors are required to make Judgement, esiimaies, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying a55umptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumption5 are revie¥ved on an ongoing basis. Revisions to accounting estlmates are recognised in the period in which the estimate 15 revised if the revision affects only that period, or in the period of the revision and future periods if the revis.on affected current and future period5. In the view of the trustees, no assumptions concerring the future or estimation uncertainty affecting asset5 Or liabilities at the balance sheet date are likely to result in a material adjustment to their carryin8 amounts in the next financial year. - CHURCHER'S COLLEGE Page 38

CHURCHER'S COLLEfjE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- cOP￿1NuED FOR THE YEAR ENDED 31ST AUGUST 2025 ACCOUNTING POLICIES- continued Fees and slmilar income Fees receivable and charges for services and use of wemises are accounted for in the period in which the service is provided. Fees receivable are stated after deducling allowances, scholarships and othei rerni55ions granted by the school, but include contributions received from Restricted Funds for Scholarships, bursaries and other grants. Fees in advance comprise fee payments made by instalment before the stan of the financial year and a number of lump sum fee prepayment amounts. Investment income Investment income from dividends, bank balances and fixed interest securitie5 15 accounted for on an accruals basis. Income from investment properties Is 3ccounied for in the period to which the rental income relates. Pupil deposits A deposit is held by the College in respect of each wpil for the duration of their schooling. It is refunded when the pupil leaves less any final charges. Donatlons Donations receivable for the general purposes of the (harity are credited to Unrestricted Funds. Donations for purposes restricted by the wishes of the donor are taken to Restrirted Funds where these wishe5 are legally bindin8 on Churther's College Governors. pKrppt that any amounts required to be retained as capital in accordance with the donor'5 wishes are accounted for instead as Endowments - permanent or expendable according to the nature of the restriction. Expenditure Expenditure 15 accounted for on an accrua15 basi>. Overhead and other costs not directly attributable to particular functional activity categories are apportloned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year, either by Tefeience to staff time or space occupied, a5 appropriate. The irrecoverable element of VAT is included with the item of expense to which it relates. Support costs comprise the costs of runnlng the charity. including the Strategic planning for its future developrnent, also internal and external audit. any legal advice for the Churcher's College Governors, and all the LUS15 vf coinplyin6 Wlth constitutional statutory r-quiremcnts. such a5 the costs of Board and Committee meetin8s and of preparing statutory accounts and saiisfying public accountability. Grants offered subject to conditions which have not been met at the yearond date are noted as a commitment but not accrued as expendtture. Operatlng lea5e5 Rentals payable under operating leases are charged in the SOFA on a strai8ht-line basls over the lease term. Assets in the course of constru¢tlon Expenditvre incurred in relation to C2Pltal building p". ojg_cts is treated as assets in the course of construction Ljntil practical completion when all expenditure is reviewad and reclassified to the appropriate class of tangible fixed asset. CHUKCHER'S COLLEGE Pag- 39

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMEKfs- CONTINUED FOR THE YEAR ENDÉD 31sr AUGUST2025 ACCOUNTING POLICIES- continued Ton￿ble fjxed assets Expenditure on the acquisition, construction or enhancement of land and buildings costing more than £10,000 together with vehicles, furniture, machinery. Icr infiastructure and other equipment are capitalised and carried in the balance sheet at historical cost. In certaln clrcumstances, where part of an asset is replaced but the original attributable c05t is not ascertainable, a reasonable estimate of the c05t. if material. has been used. Other expenditure on equipment and repalrs and rnaintenance {which include an elernent of improvement) is regarded as incurred in the normal dJy-tO-d3y runiing Of the school and its subsidiary and is charged to the Statement of Financial Activities as incurred. Depreciation The freehold college land. and bulldlngs under the Perm(Inenl Endowment are not depreciated. Depreciation is provided to write off the cost of all relevant tangible fixed assets less estlmated residual value based on current market prices, in equal annual instGlments over their expected useful economic lives a5 follows-. 20-100 years- 3 -10 years= 5 years: New buildings and improvements to buildings {unless subjert to revaluatlonl Fixtures fittings and school equipment Motor Vehicles Investment prO￿rty Investment property is shown in the financial statements at the trustee< estimated valuation and this is reviewed annually. Any aggregate surplus or deficit arising from changes in market value is Irar)sferred to the Statement of Financial Activities. Stock5 Stocks are valued at the lower of cost and net realiiable value. after making allowance for obsolete and slow- moving items. Taxation The charity is exempt from corporation tax on its charitable activities. The charity became VAT registered from 30 October 2024. Fund accountins The charltable funds of the College are accounted For as unrestrirted or restricted incorne, or as endowment capital, in accordance with the terms imposed by the donors or any appeal to whlch ihey have responded. Unrestricted income belongs to the College's corporate reserves, spendable at the discretion of the Governors either to further the College's Objects or to benefit the College itself. Where the Governors decide to Set aside any part of these funds to be used in future for sorne specific purpose. this15 accounted for by transfer to the appropriate designated fund. Restrlcted income comprises gifts. legacies and graits where there is no capital retention obligation or power but only a restriction to some sppr.ifif_ purpo_£g_ intended by the donor. Permanent endowment represents certain land & bulldlngs not transferred to the company but remain under the control of the predecessor charity Churcherfs College as detailed within the Charity Commission scheme approved on 31 August 2017. - CHURCHEtLS COLLEGE

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ÉNDED 31ST AUGUST 2025 ACCOUNTING POLICIES- continued Investments Investments are valued in the balance sheet at their mld-market value at the balan￿ sheet date. Investments management costs are accounted for as incidental c)sts of the acqui51tion or disposal where transaction-based, while investment income management costs are charged as expenditure out of the relevant income funds. Goin8 concern The trustees consider that there are no material uncertainties that may cast doubt about the group's ability to continue as a going concern. Pension costs and other post-retlrement benefits The charlty operates two defined benefit pension schemes. Contribution5 payable to the charity's pension scheme are charged to the Statemenl of Financial Aitivities in the period to which they relate. The School participates in the Teachers, Pension Scleme I'the TPS'I for its teachlng staff. The pension charge for the year includes employer contribution5 payatle to the TPS of £1,347,63412024.' £1,442,780) and at the year-end £148.89012024: £145.4351 was accrued in respect of contrlbutions to this scheme. The TPS is an unfunded multi-employer defined benefits penslon scheme governed by The Teachers, Pensions Regulations 2010 las amended} and The Teachers, Pension Scheme Regulation5 2014 las amended). Members contribute on a "pay a5 you go" basis with contributions from members and the employer being Credited to the Exchequèr. Retirempnt And other pension benefits ère paid by public funds provided by Parliament. The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuarys Department. The most recen= actuarial valuation of theTPSwas prepared as at 31 March 2020 and the Valuation Report was published in Ortober 2023. The Valuation Report shows notional assets of £222.2bn and liabilities of £262bn. resulting In a Sc￿Me deficit of £39.8bn. The employer contribution rate for the TPS is 28.6%. and employers are also required to pay a scheme administration levy of 0.08% glving a total employer contribution rate of 28.68%. The School also participates in the Hampshire PenS￿n Fund 1.the HPF.) for its non-teaching support staff. The HPF is part of the Local Governmenl Pension Scheme and is administered by Hampshire County Council. The HPF is 8overned by the Public Service Pensions Act 2013. It is a contributory defined benefit pengifTrn Éc.hpm9 admlnlstered by Hampshire County Council to provide pen5ion5 and other benefits for pensionable employees of Hampshire County Council. Portsmouth and Southampion Clty Counclls, the 11 di5liiil iuuiicils iii Hampshire, and a range of other scheduled and admitted boeies lunder admission agreements) within the county area including the school. The Fund is overseen by the Pension Fund Panel and Board. which is a committee of Hampshire County Council. The surplus in the scheme is reco8nised in the financial statements in accordance with FRS 102. The expenditure recognised in the SOFA during the year is allocated to charitable activities. The scheme was revalued in April 2023 with the employer contributions risin8 from 23.1% to 23_4%. During the previous year the school launched a new defined contribution pension scheme, Aviva Pension Trust for Independent Schools (APTISI. as an alternative scheme to the TPS with equivalent employer contribution levels and flexibility fof employees on the level of their contributions. at 31 August 2025 a total of 61 employees were enrolled in this scheme and emplO￿r contributions were £506,578 in the current financial year. In addition to provlding pension contributions for current employees. the School also pays a pension to a former employee as shown within staff costs. CHURCHERS COLLEGE Page 41

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2025 DONATIONS AND LEGACIES- GROUP 2025 2024 Development donations Donations to Richard Churcher Foundation Fund Gifts of property 119.627 133.279 542.500 102,508 459,788 795.406 562,296 OTHER INCOMING RE50URCES-GROUP 2025 2024 Tuck Shop income Lettings Trading income Churcherf5 College Enterprises Limited 2.501 42,491 185.222 1,269 35,012 188.966 230.214 225,247 INVESTMENT INCOME-GROUP 2025 2D24 Rental Income Dividends & interest received 59,850 338,715 42,750 82,114 398,565 124,864 INCOME FROM CHARITABLE ACTIV￿lE5- GROUP 2025 2024 Activity Education and grant makin8 Education and grant making Education and grant making Education and grant making Education and grant making Gr055 school fee5 Enrrance and r￿Isl[￿lISun fee5 Lunches and milk Other income lexcl shop income) Pre-registration VAT recovery 24,409.385 42.560 1,104.868 632.426 304,543 22,971.535 50,000 1,007,622 572,828 26,493,782 24.601,985 RAISING FUNDS-GROUP Ralsing donatlons and legacles 2025 2024 Raising donations and legacies- Richard Churcher Foundation 59.777 59,758 CHUIICHER'S COLLEGE Page 42

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2025 CHARITABLE AcfiviTIES COSTS- GROUP Grant funding of activities Support costs {See note 9} (See note 101 Direct costs Tota15 Education and grant making Trading costs.. CCE 22￿81,595 312,690 2,151,667 59,546 4.169 24.892,808 316,859 22994,285 2,151,667 63,715 25,209,667 GRANTS PAYABLE- GROUP 2025 2024 Bursaries and other grants and awards 2.151,667 2.050,474 io. SUPPORT COSTS-GROUP 2025 2024 Legal fees Auditors remuneration Accounts preparation services Tax advisory services 46,790 10,975 5,500 450 75,386 17,230 6,120 500 63,715 99,236 ii. TRUSTEES, REMUNERATION AND BENEFITS- GROUP There were no trustees, remuneration or other benefits for the year ended 31st August 2025 nor for the year ei)ded 315t August 2024. Trustees, expenses During the year, one trustee was reimbursed a total of £321 for travel and subsistence expenses12024: £831. 13. STAFF COSTS- GROUP 2025 2024 Wages and salarie5 Social security costs Other pension costs and apprenticeship levy 11.313,536 1,331.147 2,465.149 10,733,724 1,161,872 2.309,791 15.109.832 14,205,387 . CHURCHERS COLLEGE Page 43

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31sfAUGUST 2025 13. STAFF COSTS- GROUP continued None of the Trustees received any remuneration or other benefits from Churcher's College or from any connected bodv. There were nine employees who are considered to be Senior Management within the College. Their total remuneration during the year amounted to El.129,833. The highest paid member of the Senior Management Team received total remuneration amounting to £260.525 excluding pension contributions. The average monthly numberofemployees durin8the yearwas as follows: 2024125 153 34 29 16 Is 2023124 146 34 31 19 14 Teaching Administration Technicians Cleaners Site Nurses 251 248 2024125 2023124 Number of higher paid employees In band5 of- £60,000 - £70,000 £70,001- £80,000 £80,001- £90,000 £90,001- £100,000 £ioo,ooi- £iio,000 £110,001- £120,000 £120.001- £130,000 £130.001- £140,000 £140,001- £150,000 £150,001- £160.000 £160.001- £170.000 £170.001- £180,000 f IRO.001- £190.000 £190,001- £200,000 £200,001- £210.000 £210,001- £220,000 £220,001- £230,000 £230,001- £240,000 £240,001- £250,000 £250.001- £260,000 £260.001- £270,000 35 32 The number with retirement benefits accruing in Defined Benefit schernes was Of which the contributions arnounted to 239 £812,148 238 £822.153 . CHURCHER'S COLLEGE Page 44

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIALSTATEMENTS-CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2025 14. TANGIBLE FIXED ASSEfs- GROUP Freehold Assets under property construction Plant and machinery COST At I September 2024 Additions Disposals 31.688,685 42.434 169,5471 1,390,112 285,690 731,997 At 31 August 2025 31.661.572 731,997 1,675,802 DEPRECIATION At I September 2024 Charge for year Eliminated on disposal 3.062,822 414,605 125,7531 382,960 134,499 At 31 August 2025 3.451,674 517,459 NET BOOK VALUE At 31 AuEUSt 2025 28,209,898 731,997 1.158,343 At 31 August 2024 28,625.863 1,007,152 Motor vehicles Computer equipment Totals COST At I September 2024 Additions Disposa15 32,990 27,495 718,252 33,830,039 1,087,616 169,5471 At 31 August 2025 60.485 718,252 34,848,108 DEPRECIATION At I Seplember 2024 Charge for year Eliminated on disposal 13,196 7.972 324,817 143,650 3,783,795 700,72G 125,7531 At 31 August 2025 21,168 468.467 4,458,768 BOOK VALUE At 31 August 2025 39,317 249,785 30,389,340 At 31 Ausust 2024 19.794 393.435 30.046,244 In the opinion of the trustees all property assets should remain in these financial statements at historical cost. Assets under construction relate to the extension and renovation works at the Junior School. . CHUKCHERS COLLEGE Page 45

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- cO￿rINuED FOR THE YEAR ENOED 31ST AUGUST 2025 15. TANGIBLE FIXED ASSEfs- CHARITY Freehold Assets under property construction Plant and machinery COST At I September 2024 Additions Disposals 29.517,884 42,434 69,5471 1,197,762 285,690 731,997 At 31 August 2025 29,490,771 731,997 1,483,452 DEPRECIATION At I September 2024 Charge for year Eliminated on disposal 2.472,291 368.508 125.7531 373,948 124,276 At 31 August 2025 2,815.046 498,224 NET BOOKVALUE At 31 August 2025 26,675,725 731.997 985,228 At 31 August 2024 27,045.5Y3 823,814 Motor vehicles Computer equipment Totals COST At I September 2024 Addition5 Disposals 32.990 27.fjg5 718,252 31.466,888 1.087.616 169,5471 At 31 August 2025 60.485 718.252 32,484,957 DEPRECIATION At 1 September 2024 Charge for year Eliminated on disposal 13,19G 7.972 324.817 143,650 3.184,252 646,406 125,7531 At 31 August 2025 21,168 468,467 3.802,905 NET BOOK VALUE At 31 August 2025 39.317 249,785 28.682,052 At 31 August 2024 19,794 393,435 28,282,636 CHURCHER'S COLLEGE Page 46

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL 5TATEMENTS- CONTINUED FOR THE YEAR ENDED 31sfAUGUST 2025 16. FIXED ASSET INVESTMENT5- GROUP Listed Investments MARKETVALUE At tst September 2024 Disposals Revaluations 6,687,066 11,652,422) 110,144 At 31st Au8USt 2025 5,144,788 NET BOOK VALUE At 31st August 2025 5,144,788 At 31st August 2024 6.687,066 FIXED ASSET INVEsfMENTS- CHARrtY Shares in group undertakings Listed Investments Totals MARKET VALUE At 1st September 2024 Disposals Revaluations 1.61)0,(XK) 6.687,066 8,287,066 {1,652,4221 11.652,4221 110,144 110,144 At 315t August 2025 I.6￿J,ClO 5.144.788 6,744,788 NET BOOK VALUE At 31st AuEU5t 2025 1,600,LX)O 5,144,788 6,744,788 At 31st August 2024 I.6￿.(x)0 6.687.066 8.287.066 The investment in the subsidiary company was made io enable li io construct ￿rtaIn bulldin85 that dre used primarily by the Charity. Those assets were revalued to £1.6CK),CX)O in the financial statements of the company at 31 August 2018. This revaluation has been reversed in the financial statements of the subsidiary and the a55ets are now depreciated. The net book value of those assets is £1,580.271 and therefore the trustees do not consider any change is required to the value of the investment as at 31 August 2025. The listed investments are held and administered b"1 Cazenove Capital. The investments are in a variety of UK Government Treasury Stocks and Gilts with maturity dates between 2025 and 2030. There were no investment assets outside the UK. CHURCHER'S COLLEGE Pag￿ 47

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- coNnNUED FOR THE YEAR ENDED 315r AUGUST 2025 16. FIXED ASSEf INVESTMENTS- CHARrrY Sub5idlary Churchers College Enterprlses Limited Nature of business= Operation of Sport Facilities Class of shares: Ordinary holdlng 100.c 2025 2024 Aggregate capital and reseTve5 Turnover Profit/llossl for the year 1,448,751 307,783 116.3661 1.465,117 305,248 130,2531 17. INVESTMENT PROPERTY- GROUP AND CHARITY MARKET VALUE As at 1st September 2024 Additions 1.330,000 542,500 At 31st August 2025 1,872,500 NEf BOOK VALUE At 31st August 2025 1,872.500 At 31st August 2024 1.330,000 The investment properties were informally valued bythe trustees as 31 August 2021 by reference to local market conditions and value of similar properties in the area. Durlng the year ended 31 August 2025 a property wès gifted to the tharity, with the donor remainlng In thg property under a license to live agreement. This property was valued by two independent estate agents and the average market value with a life tenant in occupation has been used. 18. STOCKS- GROUP AND CHARrrY 2025 2024 Stocks 1.264 1,333 19. DEBTORS,. AMOUNTS FALLING DUE WITHIN ONE YEAR GROUP CHARITY 2025 2024 2025 2C24 Trade debtors Other debtors Amounts owed by related undertaking Prepayments and accrued income VAT J,748,929 100.282 136,989 6.596 1,748,929 100,282 242,8(X) 591,178 136.617 6,588 282,501 411.063 591,178 411,063 4,751 L.440,389 559,399 2.683,189 836,769 - CHURCHER'S COLLEGE Page 48

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31sr AUGUST 2025 20. CREDITORS: AMOUNTS FAWNG DUE WITHIN ONE YEAR GROUP CHARITY 2025 2024 2025 2024 Bank loans and overdraft Isee note 231 Fees received in advance (see note 221 Trade creditors Deposits from parents VAT Other creditors Accrued expenses and deferred income 270.884 5,516.935 l8￿.489 160,495 L097,119 147,872 646.432 262,864 6.066.608 1,095,785 136,867 270,884 5,516,935 1,793,173 160,49S 1.093,432 147,822 638,135 262,864 6,066,608 1,069,464 136,867 132.660 471,101 132,610 467,601 9.640,227 8,165.882 9.620,876 8,136,014 21. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR GROUP CHARtTY 2025 2024 2025 2024 Bank loans (see note 231 Fees received in advance (see note 22) Deposits from parents 3,358,630 1977,062 L25S,654 3,629,514 4,946,212 1.109,125 3,358,630 2.977,062 1,255,654 3,629.514 4,946,212 1,109,125 7.591.346 9,684,851 7,591,346 9,684,851 22. FEES IN ADVANCE SCHEME- GROUPAND CHARrrY Included within fees in advance are amount5 from parenls who pay by direct debit in advance of the next terms invoice which totalled £3,332.49112024." £2,758.30- The remaining element is where parents enter into a contract to pay tuition fees in advance for up to seven years. fees in advance are gcnerally non refundable and m3y only be returned subject to specific conditions on the receipt of notice of withdrawal of the pupil. Assjming pupils will remain in the College, fee5 in advance will be applied as follows: 2025 2024 Within one year Within one to two years Within two to five years 2,184.444 1.326,232 1,650.830 3,308,301 2,092,540 2,853,672 5,161.506 8,254,513 -"* CHURCHEII'S COLLEGE Pag? 49

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2025 23. LOANS- GROUP AND CHARITY An analysis of the maturity of loans is Eiven below- 2025 2024 Amounts falling due within one year on demand: Bank loans 270.884 262.864 270,884 262,864 Amounts falling due between two and five years: Bank loans - 2-5 years 1,158,344 1,127,844 Amounts falling due in more than five years: Bank loans more Syr 2,200,286 2.501,670 The bank loans disclosed above are made up as follows= Goodfield Project Development The charity entered into a phased drawdown loan ￿1th Uoyds Bank plc in July 2019 to support the construction of the new buildings on the Senior School site. The maximum facility available was £4,500.000 and this has been drawn down in full. All tranches were subject to a capitsl repayment holiday until March 2022. Interest is being charged at the all-in rate of 2.905% in respect of the first tranche, 2.5C5% for the second tranche. 2.359% for the third tranche, 2.793% for the fourth tranche and 3.07% foi the fifti tranche. The loan will be repaid over a fifteen year term. All loans are secured by way of a first legal charge over the freehold land and property owned by the charity tO8ether wlth an unlimited debenture. - CHURCHER'S COLLEGE Page 50

CHURCHER'S COLLEGE NOTES TO THE CONSOUDATED FINANCIAL STATEMENTS- co￿lMuED FOR THE YEAR ENDED 31ST AUGUST 2025 24. PENSIONS The charity participates in the Hampshire Pension Fund which is a multi-employer defined benefit pension scheme administered by Hampshire County Counal. The scheme was subject to a triennial valuation as at 31 March 2022 and the actuarial reporl was published on 31 March 2023. There is an overall surplus within the scheme at the valuation date. Using a lower risk funding level of 102.3% the share of the surplus attributable to Churcherf5 College as at 31 March 2022 amounted to E219,000. The charity was previously required to make contributions over a 16 year period to earlier deficits within the scheme but these contributions ceased during the year ended 31 August 2024. No contributions have been paid in the year to 31 August 2025. The remaining deficit included in the financial statements at the date contributions ceased was £158,204. Given the overall surplu5 this liability was reduced to nil in tie financial statements for the year ended 31 August 2023. 25. LEASING AGREEME￿f5-GROUp ANDCHARITY Minimum lease payments under non-cancellable opsrating leases fall due as follows: 2025 2024 Within one year Between one and five year5 118,290 131.838 94,169 175,640 250,128 269,809 - CHURCHER'S COLLEGE Pags51

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31st AUGUST 2025 26. MOVEMENT IN FUNDS- GROUP Net movement in funds At 31.8.25 At 1.9.24 Unrestricted funds General fLbnd 13,936,859 2.063.839 16.CM)0,6698 Restilcted fund5 RCF 1.841.484 652.406 2.493,890 Permanent Endowment Fund 7.440.477 7,440,477 TOTAL FUNDS 23,218,820 2,716,245 25.935,065 Net movement in funds, included In the above are a5 follows= Incoming rE50urccs Resources empended Gains and Movement in losses funds Unrestrlcted funds General fund 27,145.106 125.144.591) 63.324 2,063,839 Restrlrted funds RCF 772.861 1124.853) 4.398 652,406 Permanent Endowment Fund TOTAL FUNDS 27.917.967 (25.269.444) 67.722 2.716,245 The trustees have aBreed that the Pprmanpnt Endowment Fund should be made up of those assets transferred to Churcherfs College under the Charity Commis>ion Scheme dated 31 August 2017 as adjusted by the revaluation carried out on I September 2017. Any additions to those assets and associated depre(iation will be treated as part of unrestricted funds. - CHURCHER'S COLLEGE Pag- 52

CHURCHER'S COLLEfjE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2025 26. MOVEMENT IN FUNDS-GROUP continued Comparative movement in funds Net movement in funds At 31.8.24 At 1.9.23 Unre5tri¢ted funds General fund 12,120,153 1.816.706 13,936,859 Restricted funds RCF 1.432.790 408,694 1.841,484 Permanent Endowment Fund 7,440,477 7,440,477 TOTAL FUNDS 20,993.420 2,225.400 23,218,820 Net movement in funds, included in the above are as follows: Incomin8 resources Resources Gain5 and Movernent in 1055es expended funds Unrestricted funds General fund 25.CM)4.014 123.253.2551 65,947 1,816,706 Restritted funds RCF 510.378 1105.5781 3.894 408.694 Permanent Endowment Fund TOTAL FUNDS 25,514,392 123.358,8331 69,841 2,225.400 CHURCHER'S - COLLEGE Page 53

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAI STATEMENTS- coKfiNUED FOR THE YEAR ENDED 31ST AUGUST 2025 26. MOVEMENT IN FUNDS- CHARrrY continued Net movement in funds At 31.8.25 At 1.9.24 Unrestricted funds General fund 14,071,742 2.080,205 16.151,947 Restrlcted funds Richard Churcher Development Fund 1,841,484 652,406 2,493,890 Endowment funds Endowment fund 7,440.477 7,440,477 TOTAL FUNDS 23.353.703 2.732.611 26,086,314 Nel movement in funds. included in the above are as follows: Incomlng resour Re50urces expended Gains aiid losses Movement In funds Unrestrirted funds General fund 26,S67,174 {24,950,2931 63.324 2.080,205 Re5trirted funds Richard Churcher Development Fund 772,861 {124.8531 4,398 652,406 TOTAL FUNDS 27.?40,035 125,075.1461 67.722 2,732,611 CHURCHEIIS . COLLEGE Page 54

CHURCHER'S COLLEGE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 315r AUGUST 2025 26. MOVEMENT IN FUNDS- CHARITY continued Comparative movement in funds Net movement in funds At 31.8.24 At 1.9.23 Unrestrlrted funds General fund 12,224.783 1,846,959 14,071,742 Restricted funds Richard Churcher Development Fund 1.432.790 408.694 1,841,484 Endowment funds Endowment fund 7,440.477 7,440,477 TOTAL FUNDS 21,098,050 2,255,653 23.353,703 Net movement in funds. included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestricteil funds General fund 24,e21.979 123,040,967) 65.947 1,846,959 Restrirted furMIs Richard Churcher Development Fund 10,378 1105,5781 3.894 408,694 TOTAL FUNDS 25.732,3S7 123,146.5451 69,841 2.255,653 - CHURCHER'S COLLEGE Page 55

REPORT OF THE INDEPENDENT AUDITORSTO THETRUSTEESOF CHURCHER'S COLLEGE Oplnion We have audited the financial statements of Churcherfs Cdle8o (the 'parpnt rharitable company'l and it's 5ubsidlarv company (the 'group'l for the year ended 315t AuEUSt 2025 which comprise the Statement of Financial Actlvities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policie5. The financial reporting framework that has been applied in their preparation Is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practicel. In our opinion the financial statements= give a true and fair view of the state of the group and the parent charitable company'5 affairs a5 at 31" August 2025 and of its incoming resources and application )f resources. including its Income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requiremenls of the Companies Act 2006. Basi5 for oplnion We conducted our audit in accordance with International Standards on Audltlng {UKI IISA5 IUKII dnd applicable law. Our responsibllities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are indeyndent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requlrements. We believe that the audlt evldence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going conorn In auditing the financial statements, we have contluded that the trustpes. IAtp. of the going concern basis of accounting in the preparation of the financial ststements is appropriate. Based on the work we have performed. we have not identified any material uncertaintles relating to events or conditions that, individually or collectively. may cast significant doubt on the 8roup and parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the flnancial statefflents are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The Trustees are responsible for the other information. The other information comprises the information included in the annual report. other th¢Jn th¥ fiiiaricial statements and our Report of the Indepcndent Auditors thereon. Our opinion on the financial statements does not cover the other intormation and we (Jo not express any form of assurance conclusion thereon. In connection with our audit of the group financial statements, our responsibility is to read the other informatlon and, in dolng so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears '.0 be materially misstated. If we identify such material incon51Stencies or apparent material mi5Statements. we are required to determine whether there is a material mi55tatement in the financial statements or a material misstatement in the other information. If. based on the work we have performed, we conclude that therè is a material rnisstatpmpnt of this other information. we are required to report that fact. We have nothing to report in this regard. Oplnion on other matters prescribed by the Companies Art 201J6 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements- and the Report of the Trustees has been prepared in accordan￿ wlth applicable legal requirements. CHURCHERS COLLEGE Page 30

REPORT OF THE INDEPENDENT AUDITORS TO THETRUSTEESOF CHURCHER'S COLLEGE Matter5 on whlch we are required to report by exception In the liEht of the knowledge and understanding of the groLSP and parent charitablp r.nmpany and its environment obtained in the course of the audit. we have not identified material rnisstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Art 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by u5; or the financial statements are not in agreement with the accounting records and returns- or certain disclosures of trustees, remuneration specified by law are not made: or we have not received all the information and explarkitions we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees Responsibilities, the trustees {who are also the directors of the parent charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such Internal control d5 the trustees determine is necessary to enable the preparation of financial ststements that are free from material misstatement, whether due to fraud or error. In preparing the group financial statements. the Trustees are responsible for a55essing the group and parent charitable company's ability lo continue as a going concern. disc105ing. a5 applicable. matters related to going concern and using the going concern basis of accounting unle5S the Trustees either intend to liquidate the group and parent charitable company or to cease operatiDn5. or have no realistic alternctive but to do so. Our responsibilities for the audit of the financial stat4ments Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue a Report of the Independent Auditors that include5 our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detert a material m sstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instance5 of non-compliarce with laws and regulations. We desiEn procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of irregulariiies. Includlng fraud. The extent to which our procedures are capable of detectin4 irregularlties. including fraud is listed below: enquiry of management. those charged with governance and the entitWs solicitors around actual and potential litigation and claims- and audltlng rhe r15k of m(Ifid¥¢lT)eiit override of controls includinB through tCSting journal entries and other adjustments for appropriateness, and evaluating tlE buslness rationale of significant transaction5 Outside the normal course of business. A further description of our responsibilities for the audit of the group's financial statements is located on the Financial Reporting Council's website at www.frc.org.uklaudit0rsres￿nslb1lltle5. This description forms part of our Report of the Independent Auditors. CHURCHERS COLLEGE Page 31

REPORT OF THE INDEPENDENT AUDITORS TOTHE TRu￿EEs OF CHURCHER'S COLLEGE Use of our report This report is madè solely to thè charitablp rnmpxny's members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2CQ6. Our audit work has been undertaken so that we might state to the charitable company'5 members those matters we are required to state to them in an auditors, report and foi no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audltwork. for this report. or for the opinions we have formed. Sarah Alexander FCCA FCA (Senior Statutory Auditor) for and on behalf of Lewis Brownlee Ichichesterl ￿Mited Chartered Accountants Statutory Auditors Appledram Barns Birdham Road Chichester West Sussex P020 7EQ Date • December 2025 CHURCHER'S COLLEGE Page 32