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2021-07-31-accounts

Reglstergd number: 01218766 Charity numbor. 270143 ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (A company Ilmlted by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMEfrrrs FOR THE YEAR ENDED 31 JULY 2021

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (A company limitsd by guarantsel COTr￿ENTS Page R•fèrnnc• and administratlvo detalls of the School, Its Trnstoes and advl$grs Trnstee8' report Indepondant auditors. report on tho financial statements 9-12 stat•mont of flnanclal activI￿•S 13 Balance sheet 14 Statement of Cash flows 15 Notss to the flnanclal $tstsment8 16-35

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST {A company Ilmltad by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE SCHOOL, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2021 Trusteas Mr A J Botha, Chaimian1.3.5.6 Mr M Foster, Deputy Chaimwn1,13.5 Mr D Shah, Trustee13.5 Mr3 D Davidson￿Mith, Trusteel.2A Ms S Evans. Truslee1.2.3.5 Mrs J E Ruff, Tru8teei,14,5 Ms J Lunn. Trustee1,&7 Mr R Kalia, Trustee1A6 Mr J S Williams, Twstee1,3 M15 J Williams, Trustee {appointed 26 Novembor 201911A Member of Education Commitlge Member of Development & Fabric Committee Member of Financ& Conwnittee 4 Membgr of Public Benefit & Marketing Strategy Committee Member of Remuneration Committee Member of Risk & Compliance Committee Member of Safeguarding CorrThittee Company registered number 01218766 Charlty wgglstornd nvmbor 270143 Registèred office St Aubyn's School, Buncas Lana, Wocdlord Green. Essex, IG8 9DU Company se¢retary Mrs M Foakes Indopendent oudltors Haslers. Old Station Road. Loughton, Essex, IG10 4PL Page 1

ST AUBYN'S IWOODFORD GREENI SCHOOL TRUST (A company limitad by guarantee} TRUSTEES. REPORT FOR THE YEAR ENDED 31 JULY 2021 The Trustees present their annual report together with the audited financAal slalements of the School forthe year 1 August 2020 to 31 July 2021. The Annual report serves the pU￿OSe$ of both a Trustees, report and a directors, report under company law. The Trustees confim that the Annual report and financial stalgments of thg charitable company comply with the current statutory requirements. the requirement$ of the charitable company's go￿rnIng document and the provision$ of the Statement of R￿OrnMended Practice {SORP} applieable to harities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102) (effective 1 January 2015) as amended by Update Bulletin 1 leffectNe January 2015). This report refieds some of the challenges the School has en￿Unlered during the COVID-19 pandemlc. Sch¢)ol was dosed for 9 weeks in the Lent term. due to a national lockdown, but was able to provide an educational provision on site for pupils with a parent or parents that were classed as key Workers. Pupi15 at home were provided remote leaming u$lng various teaching platfoms. From 20 March 2021 we were able to rfropen fully. As a ￿sUIt of the Covid-19 re8tridions, the Trustees decided that fees would be discounted for the suM￿r tenn and this is refiecled in the incom& from charitable activities in n¢)te 3. Objectlves and a¢tSvltle8 a. Pollcl8s and oblectlves The objectnies of the Charity continue lo be to promote education to children over a range of age8 through thè provision of the Scho￿. its facilities and ils staff. In setting objectives and planning aGtivilies. the Trustees have given due consideration to general guidance published by the Charity Commission relating to Public Benefrt. Induding guidanca 'Public Benefrt: running a charity {PB2)'. b. Strategles for achlevlng objectlves The Board of Govemols regularfy reviews the perfom)ance of the School to en$ur8 that edu¢*ional standards are maintained and prepares development plans to ensure the faalities of the School meet educational uirements. c. Activities undertaken to achieve objectives During the year urKler revlew, further Investsnent wa8 m￿je in the provlsion of additional edLKational resources, including new comput&rs and iPads for pupib. In addition awustic pangls ￿re added to thé Sports Hall. Page 2

ST AUBYfrfs (WOODFORD GREENI SCHOOL TRUST (A Company Ilmlted by guarante81 TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2021 Objectlves and actlvltles lcontinuedl d. Social investment policios The School promotes Education for Social Rosponslbilty {ESR) acros$ thg School communty and this is evident irb lesson planning and themes for assemblig$. The three key prlnciples are.. FOUNDATIONS OF PURPOSE Understanding that twe happiness comes from understanding cffle's spirituality rather than sIm￿Y hawng more- {the consumption mentslty). ETHICAL ECONOMIES Puplis need to recognise thè unsustainable nature of our present global economy and the inequalthes which il creaes. This is about understanding the responsibilty of the wealthy, the educated and th& privileged in bringing about thange. change whith will dwelop $ystems to protect plangtary resource$ for future generations and Systems th* create opportunities ft)r a better future for those less fortunate than themselves. SUSTAINABLE FUTURES Understanding that we live on a finite ptanet limited resour￿$, and that continual growth on a finite planet is not P￿Ible, is of paramount importance. Understanding that ¢i￿￿1?T gconomi9s and sustainable approachgs have to bo dgveloped are at the heart of addressing this mis¢oncgPtion. The above infomialion will help teachers detemiing which of the three lick boxes applies to their lesson. The Eco£ommittee. achieved the EC￿schOols Gregn Flag Award and continued to encourage the rewling of food waste. Holroyd Howe (HHI. our caterers. continued to operate a Food Waste Program. Sending food waste to landfill is the most hamiful option to the envirorbmenl due to the methane gases released into the atmosphere. The food waste is collected and tsken to facilities wlth anaerobi¢ digestion. where food 18 biodegraded through mi¢r¢)organism$ Into composvlertiliser as well as biogas, which is turned into energy and vehicle fuel. Some of the energy produced is used by HH to run their ¢)porations. The Eco£ommittee also laLtnched weekly Ec Challenges to be completed at home. Sch￿[ Council arranged a charity event to support Unlcef- the ShowSHARE appeal. Old and unwanted shoe8 were collected and senl for re-use. Senior School Council spearheadod a whole s¢hty)l in((iative to collect food for the Rgdbridgo foodbank, part of tho Trussell Trust. We are brfnglng up our chlldren In a workl ￿ere we are con8umlng so much that we are uslng up wlal resources faster than they can be replenished. ESR is all about fulfilled lives and sustainable l￿ftg. We are helping lo prepare the children of today to bgcome tho pioneers of change for tomorrow. pKJneers who put people before profrt and who believe fvture generations deserve the same opportunities that we enjoy tCKiay. e. Grant4naklng FJoll¢le8 The School has tsyo stholarships available each year in Years 7 and 8. These are for a maximum award of 50% per pupil. P4e3

ST AUBYN'S ￿000F0RD GREEN) SCHOOL TRUST (A company15mlt￿ by guarantso} TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2021 ObJg¢tlves and a¢tl¥ltlos {¢ontlnuod) f. Maln actlvltles undertaken to furtherthe Schoofs purposes for the publlc benefit The School supports gduc*ion in the local and w•Jer community. We ask I￿al primary schools to take part in various Sporting activiiies at the School and provid& transport for their pupils. using our minibuses and drivers. This year tho restrictions Imposed by the Covld - 19 pandemlc have contlnued to Impact ¢)ur sportlng acti￿lIeS with other schools. Thé Sch¢X)I provides annual $thOla￿h1p$ offering a reduction in fees of up lo 500A for 2 pupils in Year 7 and 2 Pupils in Year 8. The School has an Assisted Places schemg pioviding a full assisted place for a pupil in ea¢h year group from Year 3 for the remainder of their school career at Sl Aubyn's. During this academic year, th@ School prowded ossi$led places of up lo 11)OQh of fees for 4 pupi18. The inlention is to continue awarding a new A8SiStéd Place each year, and this year the School has set aside tha sum of £51.54012020.. t48,9801 for th fund. The School supported seven charities during the year includlng Cancer Research. Hav￿} House Hospice. GOSH. Jeans 4 Genes. Childrgn in need and Corn￿ Reiief. From time to time. the School offers pathng and the use of our facilities to Haven House, the Ictal hospice for children, offering end of lrfe care. Strategic r•port A¢hlevom•nts and porf0m￿nc• . Main achievements of tho School Tho School has had a successful year as a result of steady pupil numbers and good financial management. The surplus for the year was £515.404 12020.. £489,805), which is available lo provide for ftrture developments covered in plans for the future, outlined below, and in furtherance of the School's d)aritable aclivities. b. Kgy p8rf0rn)ance Indlutoys The School continues lo provide an excellent. all round, e¢JuGation lor bw and girfs frcrfn 3 to 13, wh￿h is non Selecti￿ al the maln polnt of entry. Pupll numbers remain excellent at 527 and the School has a full roll. Key academic results include: At 11+ tho offer of 7 awards to pupils.. the$8 awards were to other Independent S¢htsJl$. 89% of pupi18 8111+ were offered places at Independent School8 and mst pupils at 11+ and 13+ athEved their first choice Sthools. Of the 15 pupll8 who Sat for selectlve entry at 13+ 11 ac￿pIed places at Independent Schools. Two of the remaining 4 pupils accepted place8 at State Boarding Schools and 2 did not sit for seledive entry. Page 4

ST AUBYN'S IWOODFORD GREENI SCHOOL TRUST {A company limited by guarantee) TRUSTEES. REPORT {Co￿lNUED} FOR THE YEAR ENDED 31 JULY 2021 Strategic report {continuedl Achlevements and perfomiance Icontlnuedl c. Ravlaw of acthiltlos In Sport, participalion was very limited this year due lo the Covid-19 rgstrictions. In Mu$i¢, drama and dance= 104 pupils passed LAMDA (London Academy of Music and Dramatic Art) 8peech exams. 32 pupils pa8sad Ceccheth. Dance exams and 7 pupi18 Passed Brft18h Arts Bronze Medal Dance exams. School ran variou$ extra<urricular acti￿tIeS in music, 0$ and when pemiiited. adhering to social distanclng. Music lessons were delivered each week by specialist teachers and the School offers instrumantal lessons on an individual basis, wth 16 peripaletic staff visiting each week. Several new groups were crealed,. a wind en$emble' upper string an$ombl&,' h)war string &nsamble; guitar ens6mble', Year 4 brass group and Year 5 brass group. These events and oppcrtunities not have been possible without the adaptivè team of staff in the department. Music plays a big part in most school produ¢tion$. Thi8 year Nursery. Reception 8nd Year 1 pupils made 8 Nativity wdeo. Year 2 ptDduced an on line performance of 'Plaslic Piratos., with input from parents recording sKtions al home that was then edited in school. Year 5 delivered 'Sherlod( and Cinders.. aJain wi(h perfomiances recorded remotely with help from parent5 and on line acting lessons. Year 6 took part in 'How to SuNive a Shakespeare Pla￿. which was perfom)ed lo a socially distanced audience in ￿h0O1. Year 8 performed 'The Day the Intemet Died" which was shot in various locations arovnd tho Schcol. Recycling and Eco4niliatives corbtinue, with the recycling of paper and plastics. phasing out single use plastic items in school and participation in the Walk to Sthool programme. run in Conjunction ¥Mth the London Borough of Redbridge. The Cadets Corps coninues to be a popular after school activty. although somewhat curtailed during the Covid- 19 pandemic. We continue to adapt, but wth our eore principles in focus. Our aim is to make the experience fun and energetic. but with valuable èxperiences that are not found in other school activities. d. Fundraising activitiès and income generation The prfndpal funding of the School continues lo be the tultion for the educational SO￿1C9S prowded. e. Investment policy and perlomian¢e The School has investJ funds in prowty to Provide rental in￿)n￿ which part funds the bursaries awarded. Flnanelal revlew a. Going ¢oncem After making approprkate enquiries, the Twstees have 8 r&gsonabl8 expectation that the SchcK)I has adequate resourees to continue in operational existence for the near future. For this reason. they continue to adopt the going concern b88is in preparing financial statements. Further details regarding th8 adoption of the going concern basis can be found bn the accounting policies. Page 5

ST AUBYN'S IWOODFORD GREEN} SCHOOL TRUST IA company IlmS1od by guaranto91 TRUSTEES. REPORT {CONTINUEO) FOR THE YEAR ENDED 31 JULY 2021 b. Ro$erYes pollcy At the end of the financial year the Charlty had free reserves of £2,270,706 (2020.. £1,571,695) which comprises net currenl assets. Thesè are eam)arked for future development. as well as furtherance of ￿ School's charitable aclivtiies. The Trustees will continue to seek lo ensure that adequate werves are maintained to cover omorggn¢iss and to be available for futurg development projects. c. Prlnclpal rlsks and uncertalntles The sch¢)ol is dependent on fees pald for the educational seNices provided, 80 in twnes of recession there is a risk that pupil numbers will drop. Careful budgeting and control of costs is key to dealing with periods of economic uncertainty. The Trustees are mindful of the risk of future economic unc&rtainty and bear this in mind whon planning fLrtura d&velopments and when considerin9 the level of fees to be charges. d. FIna￿[al risk managam6nt objectlves and pollcles The Trustees have an approved Statement of Financial Controls to safeguard the assets of Ihe Charity. There 8re two authorised bank$ and on& aulhorised building society and the Tnjstees on the Firbance Committee discuss all invostments and thon refgr to the Board for final approval. Trustees Careful￿ consider the risk fjlement of any proposed investment. with a wew lo minimising any risk to the assets of the Charity. •. Prlnclpal lundlng The prfnclpal fundlng of the School continues to be tho tuition fees d)atYJed for the ed￿atIonal serv￿$ prowded. Structure¥ gov8rnanco and management a. Constltutlon st Aubyn's (Woodford Green} School Trust is regislered as a charitable compary lim6ted by guarantse and w&8 set up by a Memorandum ofAssociation. b. M•thod$ of appolntm•nt or èlectlon of Trustees The management of the School Is the responsibillty of the Trustees who are elected and ccw)tgd under the terms of the Memorandum ofAsscKiation. c. Organlsational Structuro and de¢l$lon4naklng pollcles The Truslees determine the ger¢eTal potiw of the Scho￿. The day to day running of the school 1$ delegated to the Hgadmaster, supported by the Bursar and other members of the Senior Management Team. Thg administration of th¢ School is undertaken within the poI￿leS and budgets approved by the Trustees, which provide for significant income and expenditure and other decisions {induding capital projects> to be referred to the Trustees for prior approval. Page 6

ST AUBYN'S ￿00DFoRD GREENI SCHOOL TRUST {A company limit￿ by guarnntsel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 struetur¢* govomanca and managoment l¢ontinuodl d. Pollclg$ adoptgd for th¢ Inductlon and tralnlng of Trust99S All new Trustees are gNen an induction programme on joiniro the Charity. Trustees take part In relevant trainlng courses. e. Pay policy for key management petsonnel A remuneration committee, compr18ed of fNe Trustees, meets annually to discuss and set the1gv81 of salaries for key personnel. f. R8lated party r8latlonshlps Tha Board of Gov&mors is madg up entirely of volunteers aside from the transactions diselosed in Note 26. Parents also contribute both by ratsing money and in helping to dayto day support to tsachers and children. g. Financial rlsk management The Truste88 have a$se$8ed the major risks to which the School is gxposed, in particular those related to th operations and finances of the S¢h¢xJl, and are satisfied that Sy3tems and procedure5 are in place io mitigate exposure to the major risk. Plans for lulure porlods We WIM continue with internal refurt)ishment across the School with particular regard to impromng classrooms. the 8cience laboratory, sports hall a¢ou5tics, toilgls and playgrounds. The Trustees will also continue to address longer term plans to ensure th8 Charity continuo$ to ts objortNg5. PwJe 7

ST AUBYN'S ￿00DFoRD GREEN) SCHOOL TRUST {A ¢ompany Ilmtted by guarantsel TRUSTEES. REPORT ICOWnNUED) FOR THE YEAR ENDED a1 JULY 2021 statamant of Trust8￿. responsibilitios The Trustees (who are also the directors of the School for t purposes of cofflpally law) are responsible for preparing the Trustees, report including the Strategic report and the financial statements in ac¢ordan¢e with 8ppli¢3ble law and United Kingdom Accounting Standards { nited Kingdom Generally Accepted Acmunting Practice). Company law requires the Trustees to prepare ffinanci81 state ts for each fi'nancial year. Under company law, the TnJstee8 mu81 not approve the financlal statements unless they are satisfied that they give a true and fair Vigw of th& $tatg of affairs of tha S¢hcbJl and of 11$ incoming rgsourcas and application of resources. including its irvyne and expgnditur8, for that pgriod. In preparing th9$9 fina cial statements, the Trustees are required to.. nsistant￿.. P {FRS 1021.. onable and prudent.. 1021 have been followed. subject to any material $nts', sis unless it 1$ inappropriate lo presume thal the select suitable accounting policies and then apply them observe the melhcJs and principles of the Charities SO make judgements and accounting estimates that are rea state whether applicable UK Accounting Standards (FR departures disciosed and explained in thg financial $tste prepare the financial slalements on the going concem b School will continue in business. The Trustees are responsible for keeping adequate a￿ountin the School's transactions and disc105e wrth reasorkable accura and enable them to en$ure th8t the finan¢ial $tatement$ responsible for Safeguarding the assets of the Sthc<Jl and h and detection ol fraud and othér irregularitié8. records that are sufficient to show and explain y at any time the financial posltion of the School ty with tha Companies Ad 2006. They are also Ce for taknng reasonable 8tep8 lor the prevention Dls¢lo$uro of Infomiation lo audltors Each of the persons who are Trustees at the tlme when this Trustees, report is appr¢)ved has Confi￿ned that: so far as that Trustee is aware, Ihere is no relevant audit infomiation of whith the ¢hariV$ auditors org unaware, and that Trustee has ten all the steps that ought to have been taken as a Trustee In order lo be aware of any rgl&vant a￿lIt infomiation and to establish that the charitys audriors are aware of that infomiation. Audlto The auditors, Haslers. have indieated theirwillingness to conllnue In office. The de8lgnated Tru8tee8 will propose 8 motion reappointing the auditors al a meeting of the Trustsès. Approved by order of the membars of the board of Trustees on 18 November 2021 and signed on their behalf by.. MrAJ tha {Chair of Trustee81 Page 8

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST

Opinion

We have audited the financial statements of St Aubyn's (Woodford Green) School Trust (the 'school') for the year ended 31 July 2021 which comprise the Statement of Financial Activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements 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.

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ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

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

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

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ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (CONTINUED)

Responsibilities of trustees

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

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

Auditors' responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Procedures performed to address these were as follows:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

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ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (CONTINUED)

Use of our report

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

Laura Ambrose (Senior statutory auditor)

for and on behalf of Haslers

Chartered Accountants Statutory Auditor

Old Station Road

Loughton

Essex

IG10 4PL

18 November 2021

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ST AUBYN'S ￿00DFoRD GREEN) SCHOOL TRUST {A company limited by guarantsel STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME ANO EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2021 Restrlcted Unrestrlctsd funds funds 2021 2021 Total funds 2021 Total fvnds 2020 Income from: Donations. legacies and govemment grants Charitable activitses Investments 45,634 5,603,513 59.049 600 45,634 5,603,513 74049 163,054 &308,385 81.426 15,000 Other Income Total Income Expondlturg on: Charltable acllvliles 15,000 5.708.796 5.723.796 &552,865 15,OlX) 5.193.392 5,208.392 5,063,060 Total expondllure 16,000 6.193.392 5.208.392 5,063,060 Net movement in funds R•conclllation of funds: Total funds brought fO￿ard Net movement in fvnds 515A04 515,404 489,805 380,000 8,860,895 515004 9,240.895 51S.404 8.751.090 380.000 9.376.299 9.756.299 9,240,895 Total funds carrfgd fonvard Th6 Statemènt of Flnancial Actlvitle8 Includes all gains and los￿ rocognised in tho year. The notes on pages 16 to 35 form part ofthesa financial statements. Page13

ST AUBYN'S (WOODFORD GREENI SCHOOL TRUST IA company Ilmlted by guarantee) REGISTERED NUMBER: 01218766 BALANCE SHEET AS AT 31 JULY 2021 2021 2020 Notg Flxed assets Tangible assets Investment property 11 12 7.339.102 380,000 7,513.209 380.CQO 7.719.102 7,893,209 Current assets Debtors Cash at bank and in hand 13 79,740 2.9￿371 89,041 2, 132.968 2.984111 2,222,009 Creditors". amount8 falling due within one 14 1713A051 (650,314) Not ¢urr•nt assats 2.270.706 1,571,695 Total assets less current Ilabllltles 9,989,808 9.464,904 Creditors.. amounts falling due after nTr)re than ono year 15 (233.509) (224,LXVJ Net as$•ts axcluding pansion asset 9.756.299 9,240,895 Total net assets 9,756,299 9.240.895 Charity funds Restricted funds Unrestricted funds 16 16 380.000 9.376,299 380,OCi7 8,860,895 Total funds 9.756,299 9,240,895 The Truste88 &kncMledge Ihelr fesponsibilitios for complying with the requirements of Ihe Act with respect to accounting re￿IdS and preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees on 18 November 2021 and signed on thelr behalf by.. MrAJ Botha (Chair of Trustees) The notes on p￿eS 16 tt135 fomi part ofthese financial statements. Page 14

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST {A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2021 2021 2020 Cash flows from operatlng activities Net rash used in operating activities 701,105 447.803 Cash flows from inv8sting activlties DThiidends, interests and rents from investments Purchase of tangible fixed assets 74.049 81,426 13.7511 (773,525J Net cash provlded byllused In) Inve$tlng actlvlties 70.298 (692.0991 Change in and cash equlvalents In the year Cash and cash equival8nls at th? beginning of the year 771,403 2.132.968 (244,2961 2.37T.264 Cash and cash equlvalents at the end of the year 2.904.371 2, 132,968 The notes on pages 16 to 35 fomi part of these financial statements Page15

ST AUBYN'S ￿00DFoRD GREENI SCHOOL TRUST (A company limitèd by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 A¢¢ountlng pollclos 1.1 Basis of proparation of financial statements The financial statements have been prepared in a￿ordance with the Charitiès SORP {FRS 102) - counting and Reporting by Charities: Statement of Recomm8nded Practice applicable to charityas preparing their accounts in a￿rdance with the FinancAal Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effeclive 1 January 2015}, the Financial Reporting Standard

pplicable in the UK and Republic of [relar￿ (FRS 102) and the Companies Act 20C6.

st Aubyn's (Woodford Green) School Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othemise Stated In the relevant ac£ountlng p)Ilcy. 1.2 In¢om• All irKome is rettjgnised once School has entitlement lo th8 income, it is probablg that the Incomè will be recelved and the amount of income recaivable can be measured reliabty. Grants are included in the Statement of financial actNitie$ on a recewable basis. The balance of Income received for specific Pufposes but not experKled during the period is shown in thè relevant funds on the Balance sheet. Where income received in a(fvance of entitlement of r￿elP1, its recognition is deferred and included in creditors as deferred income. Where ent￿ement occurs before income is recoived, Ihe income 1$ accrued. ￿n￿me tax recovorable in relat#?n to investrnent income is recognised at the time th& investm&nt in¢omo is r8c8ivabl8. 1.3 Exp•ndltur• Expe￿Ilture is rgcognised once there 1$ alogal or conslructrve cknligation to transfer economic benefft lo a third party, it is probable that a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measured reliabty. Expenditure is classified by activity. The costs of each Bclivity are made up of the total of diwl ￿$tS and shared costs. including support costs involved in undertaking each actiwty- Direct Costs attributable to a single activity are allocated direclty lo that activity. Shared costs which wntribute to more than one activily and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on tho basi$ of time spont, and daprociation charges all(Kaled on the portion of the asset's use. Expendlturg on chariloble artivitie$ is incurred on direct￿ undertaking tho actNitlos whlch further the S¢h¢XJl's objectives, as well as any a$so￿ated $upport costs. 1A Govemment grants Govemment grants relating to tangible fLYod a$set$ arg Ireatad as daferred income and released to the Statement of financial actmlies over the expected useful live8 of the assets concemed. Other grants ar8 ¢redlted tr> the Statement of financial activities as the related expenditure is inGurred. Page 16

ST AUBYN'S IWOODFORD GREEN) SCHOOL TRUST {A company Ilmlt•d by guarnntsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 A¢¢ounUng pollclgs (contlnuodl 1.5 Tanglble flxed assets and depreclatlon Tangible fixed assds are Initial￿ recognised at cost. Aft&r recognition, undarth8 cost modal. tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losse5. All costs incurred to bring a tsngible fixed asset into its intended working condition should be induded in the measurement of cost. Depreciation is cbarged $0 a$ to allocate the ¢￿t of tangible fixed assets less their residual val overtheir eS￿mated useful INes. Depreciation is promded on the following bases: Freehcld property 2% per annum ofthe value of buildiro$ Motor vghicies 20Yo reducing balance Fixtures and frttings 20% straight line Computer and office ouipment . 33.3A Straight line 1.6 Debtors Trado and other debtOTS are recognised at the settlement amount after any tsde diwiunt ¢)ffered. PrepayTnents are valued at the amount prepaid net of any trade discounts due. 1.7 Cash at bankand In hand Cash at bank and in hand indudé6 cash and 8hort4emi hlghly Ilquld Investments with a short maturity of three months or less from the date of acquisilion or opening of the deposit or similar account. 1.8 Llabllltles and provlslons Liabilitigs are recognised when there 15 an obligation at the Balance 5heel date as a result of a past event, rt is probable that a transfer of economic benefrt WIN be requlred In setttement. and the amount of the settlement can be estimated reliably. Liabilrties are recognised at Ihe amount Ihal the School anticipates it wll pay lo settle the dobt or the amount il has received as advanced payments forthe goods or serwtss rt must provide. Provisions are measured al the best estimate of the amounts require(I to $8tlle the obligation. Where the effect of the time value of money is material, the provision is based on the prgsenl value of those amounts, diseountad al th& pr8-tax discount rate that reflects the risks specffic to the liability. The un¥winding of the discount is re￿niSed In the Statement of financial activities a8 a finance cosL 1.9 Flnanclal Instrumonls Thè Sch¢)ol ￿trIY ha8 financlal assets and ￿nandal IlabSlitle8 of a klnd that quallfy as baslc finan￿81 instruments. Bas￿ financial instruments are initially recognised at transaction value and subsequenuy maasured at their settlement value with the exception of bank b)ans vthich are subsequenuy measured at amrtised cost using the effective interest method. Page 17

ST AUBYN'S ￿00DFoRD GREENI SCHOOL TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Ac¢ountlng pollcles (¢ontlnued} 1.10 Operatlng leasès Rentals paid under operating leases are charged to the Sialement ol financial actMtie5 on a straight Ilne basis ¢)ver the lease temi. 1.11 Penslons Retirement bonefts to employees of th& school arg pr¢)vided by the Teachers. Pension Scheme rTPS"l and a stakeholder compliant pension stheme. The Teacher5. Pension Scheme is a defined benefit scheme and the assets are held sgparat¢ly from thos8 of the school. The TPS is an unfunded scheme and contributions are ealculaled 80 as to Spread the cost of pensions over emph)yees' working lives with the school in such a way that thg pension cost is substantially level per¢entage of ¢urront and fvture pensionable payroll. The contributions are determined by the Govemment Actuary on the basis of qUad￿nn181 valuations using a prospectNe unil ¢redit method. As slated In Note 20. the TPS Is a muttl•mployer scheme and there is insufficient information available lo use defined benefit accounting. Thg TPS is thorafora twt8d as a defined contribution scheme for a¢￿untIng purposes and the Contributions r8cognised in the pernd to which they relate. A stskeholder complSant penslon scheme 1$ also offered to any employee not cUrren￿Y contributing to a pgnsion schemg. 1.12 Fund xcountlng General funds are unrestric¢ed funds which are available for use at thg discrgtion of th& Truste8s in furtherance of the general cbjectives of the Sch¢JoJ and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The alm and use of each de8ignaled fund Is set out In the noles to the financial statements. Restricted funds are funds which are to be used in accordance wrth specific restriction5 Thnposed by donors or which have been raised by the School for particular purposes. The costs of raising and administering such funds are charged against the specffic fund. The aim and use of each re8tricted fund is set out in the notes to the financial statements. Investment ineth*. gains and Ios8e8 are allcKated to the appropriate fund. Page 18

ST AUBYN'S IWOODFORD GREEN} SCHOOL TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Incomg from donatlons, logacles and government grants Unrestrlcted funds 2021 Total funds 2021 Donatlons Government Grants (Fudough) 45.634 45.634 45.634 45.634 Un￿Stnc￿ed funds 2020 Total funds 2020 Donations Government Grants {Furfough) 163,004 163,004 163,054 163,054 Paga 19

ST AU8YN'S (WOODFORD GREEN) SCHOOL TRUST {A company Ilmlt•d by guarnntso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 In¢omo from ¢har5table activi￿8$ Unrestrlcted funds 2021 Tt)tal funds 2021 Schcx)I fees Sports hall Aftgr Sch¢￿1 club 5.552,822 20,273 30.418 6,552,822 20.273 30.418 Total 2021 5,603,513 5,603,513 Un￿trICted funds 2020 Total fvnds 2020 Schwl fees Sports hall After school club &210,454 30,959 66.972 4210,454 30.959 66.972 Totsl 2020 4308.385 &308.385 Invastmont Income Restrlctsd UnraslrSctad funds funds 2021 2021 Total fund5 2021 Rent receivable Interest receivable 15.000 58.838 211 73M38 Totsl 2021 15,000 59,049 74.049 Page 20

ST AUBYN'S ￿00DFoRD GREEN) SCHOOL TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Invostmont incomo Icontinuedl Restncl8d Unrestrictod funds funds 2020 2020 Total funds 2020 Rant receivable Interest receivable 15.000 59,484 6,942 74,484 6.942 Total 2020 15.000 66,426 81,426 Other Incomlng resour¢ Unro$trl¢tsd funds 2021 Total funds 2021 Tol funds 2020 Photographs 600 Anatysis of oxpenditure on charitable aclivltie$ Summary by fund ty Restrlctsd Unreslrf¢ted funds funds 2021 2021 Total funds 2021 School fees Sports hall After school dub 15,000 5,054,110 88.382 50,920 5,069,110 88.362 50,920 Total 2021 15.000 S,193,392 6,208.392 Page21

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST {A company Ilmlted by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Analys￿ of expondtturn on charltabl& activities (continued Summary by fund typo l¢ontlnuedl Restllcled Unrestiicted funds fvnds 2020 2020 Tot81 funds 2020 School fees Sports hall After school club 1&000 4.951. 190 51.215 4&655 4.966. 190 51,215 45.655 Total 2020 14000 5.048.060 4063.060 Anatysk of expondituro by acttvftles Actlvltlos undortaken directly 2021 Total nds 2021 Schc Sports hall After school dub 5,C69,110 88,362 50.920 5,069,110 88.362 $0,920 Total 2021 5,208.392 5,208,392 Ac¢wit undertaken di￿¢￿ 2020 Total funds 2tr20 Schoc4 Sports hall After ￿h¢)0[ club 4,966, 190 51,215 45.655 4,966, 190 51,215 44655 Total 2020 &063,060 5.063.060 Page 22

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (A company Ilmlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Analysis of oxpenditure by activlli8s (continuedl Analys18 of dliect costs After school lub 2021 Total funds 2021 School Sports hall 2021 2021 Staff costs Depreclation Teaching resources Governance costs Staff trainlng Administrative costs Premises expenses Catering costs Insuranc& Interest payable Advertising Aqotor and Iravelling Scholarship and assisted Pla￿ funding Legal and profe88ional Sch¢)ol inspertiorb co$ts 3.486.340 177,858 296,178 8.760 9,393 9,328 577,584 321.571 38,247 3.674 38,675 1.385 64.918 31,430 3.769 83.380 50.919 3.620.639 177.858 296,178 8.760 9.393 9,328 $82,566 321.571 38,247 3.674 38,675 1,385 64.918 31A30 3.769 4,982 Total 2021 5.069,110 88.362 50.919 5.208.391 Page 23

ST AUBYTrfs IWOODFORD GREEN) SCHOOL TRUST IA company limited by guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Analy$b of oxpgndlture by actlvl¢les {conllnu0d) An8ty818 of dlrect tosts {contlnued) Aftersthool club 2020 Tot funds 2020 School Sports hall 2020 2020 Staff costs Depreciation Teaching resources Govemance costs Staff training Administrative costs Premises expenses Catering costs Insurance Interest payable Advertising Motor and traveNing Scholarship and assisted pla￿9 funding Legal and professlonal Schcol inspection costs 3,415, 113 180,683 264,348 7, 740 17.449 9&684 438,069 312.917 52.630 45,006 45,655 3,505, 774 180,683 264.348 7. 740 17.449 95,684 444,278 312.917 52,630 3,622 33.541 2,235 68.248 68,257 5,654 6,209 33,541 2.235 6&248 68.257 4654 Totsl 2020 4.966, 190 51.215 45.655 4063,060 Pagg 24

ST AUBYN'S IWOODFORD GREEN) SCHOOL TRUST IA company Ilmlted by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Audltorn. remunoratlon 2021 2020 Auditors, remungration- audit 7,295 7.740 Staff costs 2021 2020 Wages and salaries Social security Costs Contribution to defined contribution pen8ion schemes 2.872,325 284.997 463,317 2. 796.348 27&024 434.402 3,620,639 3,504774 During the year. fvrlough monies were recieved tcrtalling £45.634 {2020: £163,004). This has been shown seper8lety in thg accounts a$ 0 9overnm8nt granL The average number of persons employed by the School during the yegrwas as follows: 2021 No. No. Teachers Teaching Assistants Sports Hdl Admin other 42 19 48 23 11 24 12 The number of employees whose empl¢)yee benefrt8 (excluding omploygr pension costs) exceeded £60,000 was: 2021 No. 2020 In the band £60,001- £70,000 In the band £70,001- £80,000 In the band £90.001- £100.000 Page 25

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (A company Ilmlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 10. Trusteos. remungratlon and oxponso$ During the year, no Trustee8 re￿]Ved any remuneratlon or olher benefits (2020- £NILJ. During the year ended 31 Juty 2021, no Trusteo expgnw have been incurred (2020- £NIL). In additbn to the above, tr8nsactions wth related parties be seen on Note 26. 11. Tanglbl• Ilxed assets Freehold pro￿rty Motor Flxturos and vohl¢las flttlng$ Total Cost or valuatlon Al 1 August 2020 Additions 8.711,711 3,751 24,660 $65,184 9,301,SSS 3,751 Al 31 Juty 2021 8,715,462 24.660 565,184 9.306.306 Depreciation At 1 August 2020 Charge for the year 1,260.572 162.829 8,180 3,623 519.694 21 A06 1.788.346 177,858 Al 31 Juty2021 IN13,401 11803 541.000 1.966.204 Not book valuo At 31 ju￿ 2021 7.302.081 12057 24,184 7,339,102 At 31 July 2020 7,451, 139 16,48Q 45,590 7,513,209 Induded in land and building$ 1$ freehold land at valuation of £1,074.031 <2020.. £1.074.0311 with a cost of £562,992 {2020.' £562,992) wh￿h is not depreciated. Page 26

ST AUBYN'S IWOODFORD GREENI SCHOOL TRUST IA company limlied by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 12. Invo$lmgnt propgrty Long term leasehokl Invèstment PrO￿rtY Valuation At 1 August 2020 380.000 At 31 July 2021 380.000 The 2020 valuation$ were by the TrL￿tees, on an open market value for exlsting use ba818. 2021 2020 Historic cost 276.000 275,¢XKI 13. Debtors 2021 2020 Dutr within onè y•ar Trade debtors other debtors Prepayments and accrued income ¥454 6,250 49,036 22.024 67,017 79,740 89,041 CredlioT8: Amounts falllng du8 wlthln one year 2021 2020 Trade creditors other taxation and social security other creditors 37,038 71N74 184.083 420,810 32,432 72,278 226.866 318,738 Accruals and defrrred income 713AOS 650,314 Pago 27

ST AUBYN'S IWOODFORD GREENI SCHOOL TRUST IA ¢ompany limtted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 15. Creditors: Amounts falling du8 after morn than ono y 2021 2020 Refundable dep)sits 233,609 224.CQ9 Page 28

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (A company Ilmlted by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 16. Statsment of funds ststement of funds- ¢urr¢Tht year Balance at 1 August 2020 Transfers Balance at In10￿ 31 July 2021 Income Expenditure Unrestricted funds Deslgnated funds Assisted Places Funds Parent Teacher Associatton- fomierly SASS fund 301,507 (s2.P￿4) 61.640 300.363 14.553 2,013 16,566 316.060 152.684) 53.553 316.929 General fund8 General Funds 8.544,835 5.708.796 16.140.708) (53.653> 9,059.370 Total Unrestricted funds 8.860.895 5.708.796 16,193,392) 9,376,299 Restrlcted funds ColleyA88isled Places Fund 380.000 15.000 115,000) 380,000 Total of funds 9.240.896 5.723.796 16.208.392) 9,766,299 The De8ign8ted Assisted Places Funds are being built UP Ovor a number ol years so as to then be able to make an Investsnent that will provide annual income for assissted places thereafter. Existing assisted places are being madg through tho ColleyAssisled Places Fund. The Collay Assisted Places Fund provldes fundlng towards assisted places c06ts. Parent Toach&r Association balan￿. Formerty SASS Fund represents the Parent Teacher Associal￿n cash Page 29

ST AUBYN'S IWOODFORD GREENI SCHOOL TRUST (A ¢ompany limltsd by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 JULY2021 16. Stslemgnt of funds {contlnued) statement of funds- prlor ye•r BalanGe al l August 2019 Transfers Balan￿ al inlout 31 July 2020 Income Expenditure Unrestricted funds Deslgfftat￿ funds A831Sted Places Funds Parent Teacher Associalion- formerfy SASS fund 307.18r (54, 710) 48.980 301,50T 23.733 (9. 180) 14.553 330,920 (54,710) 39,800 316,060 General funds General Funds 8.040, 17Q 5.537.815 (4.993.350) (39.800) &544.835 Total Unrestrfcted funds 8,371,090 {5,048,060) 4860,895 Restricted funds Colley Assisted Plac8s Fund 380,000 14000 (15,0(10) 380,000 Total of funds 8,751,090 15,000 (&063,060) 9.240,895 Page 30

ST AUBYN'S IWOODFORD GREEN) SCHOOL TRUST (A Company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMEF FOR THE YEAR ENDED 31 JULY 2021 17. Summary offunds Summary of fund$- Current yoar Balance at 1 August 2020 Transfe Balance at Inlout 31 July 2021 Incom• Expend5ture Designated funds General funds Restricted fvnds 316.060 8.S44.835 380,000 (52,684) 5.708.796 (5.140.708) 15,000 (15,000) 63.553 316.929 {63.663} 9.069.370 380,000 9,240.895 5.723,796 15.208.392) 9,756.299 Summary of funds- prlor ygar Belance al 1 Augusl 2019 Ttsnsfe BalaTr￿ at in/0ut 31 July 2020 Income Expendltu Designated funds General funds Restricted funds 330.920 8,040. 170 380,L (54. 710) 5,537.815 (4,993,350) t&ooo (i&ooo) 39,800 316.060 (39,800) &544.835 380,000 8, 751,090 5,552,865 (4063,060) 9,240,895 18. Anatysls of net as$8ts betwoen fvnds Anatysis of net assets between funds- ¢urrent year Restrfcted Unrostrlcted funds funds 2021 2021 Total funds 2021 Tangible fixed asset5 Investment pr¢)pgty Current assets Credltors due within one year Creditors due in n￿re than one year 7.339,102 7,339,102 380,000 2,984,111 2.984,111 1713.405) (713.4051 1233,509) (233.509) 380,000 Total 380.000 9,376.299 9,756,299 Page 31

ST AUBYN'S IWOODFORD GREEN) SCHOOL TRUST (A company Ilmlted by guarante8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 18. Anatysis of nat assets betw•on funds {continued Anatysls of net assets between funds - prlor year Restncted Unrestricted fvnds fvnds 2020 2020 Tofal fvnds 2020 Tangible fixed assets Investment propety Current assets Creditors due within one y9ar Creditors due in more than one year 7,513.209 7,513,209 380.000 2,222,008 (650.313) (224.tX)9) 2,222,008 (659.313) (224,009) Total 380,000 8,860,895 9,240,895 19. Reconclllallon of net movement In funds to net cash Ilow from op?ratlng activltlas 2021 2020 Not inwm& for the year (as par Statwnent of Fina￿la1 Adivities} 515,404 489,805 Adjustments for: Depreciation charges Dividends. interests and rents from investments Decreasel(Increa8e) In debtors Increasel{decreasel in creditors 177,858 174.049) 9.301 72.591 180.320 (81.426) (70,720) (102.420) Net cash provided by operating a¢tivitie$ 701.IOS 415.559 20. Analysls of cash and cash equlvalents 2021 2020 Cash in hand 2,904.371 2. 132,968 Totsl cash and cash equlvalènts 1904.371 2. 132.968 Page 32

ST AUBYWS ￿00DFoRD GREEN) SCHOOL TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 21. Analysis of changes in net debt At 1 August 2020 Cash flows At 31 July 2021 Cash al bank and in hand 2.132,967 771A04 2,904,371 2,132,967 771,404 2.904.371 22. Capltsl commltmonts 2021 2020 Contracted for tyJt not prowded in the$& financial statem&nts At 31 July 2020 the school had committed to refurbish windry•VS across the schooL Refurbishmgnts were carried out in the Summer holidays. Page 33

ST AUBYN'S ￿00DFoRD GREENI SCHOOL TRUST IA company Ilmited by guarant¢o1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Pen$lon ¢ommltment8 Teachers. Ponslon Scheme Introductlon The Teachers. Pension Scheme (TPS) is 8 statutory, contributory, defined benefft Scheme, govemed by the Teachers, Pensions Regulations {2010} and. from 1 April 2014, by the Teachers, Pension Scheme Regulations 2014. The school participatos in the scheme so membership is automotic for lull-tim8 teachers. The TPS is an unfunded scheme and members contribute on a'pay a8 you go, basis- thase contributions along with those made by employers are credited to the Ex¢hequ8r. Retirement and other pgnsKn bengfits aro paid by public fvnds providad by Parliamont. Valuatlon of the Teachèts, P•n$lon Schomè The Government Actuary, using nom)al actuarial principles, conducts a fomial actuarial reviw of the TPS in accordance wth the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the rewew is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, destgn of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2016. The valuation report was published bythe Departsnent for Education on 5 March 2019. The key oloments of tho valuation and $ubsoquont consultation are: ' gmploygr contr1t￿lon rates set at 23.68% of pension8b19 pay (including g 0.08% administration levy} total scheme liabilities {pensions currenlty in payment and the estimated cost of future benefits) for 8eMce lo the effective date of £218.100 million and notional assets (estimated future contribution8 together wth the notional invesknenls hekj at the valuion del of £196,100 million, giving a notional past seThice deficit of £22,000 mill￿￿ . the SCAPE rate. set by HMT. is used to delemiine the notional investment relum. The ¢UTrent SGqPE rate is 2.4% above thè rale of CPI. assumed real rate of retum is 2.4% In excess of pri￿$ and 2% in exces8 of eamings. The rate of real eamings growth is assumed to be 2.20fi. The assumed nominal r0 of retum including eamings grovrth is 4.45%. The naxt valuaticffi resull is dua to be implemènted from 1 April 2023. The employeffs renSiC￿ costs P8id to TPS in the period amounted to £435,997 (2020.. £410.6401. A copy of the valuation report and SLtpporting documentation is on the Teachers. Pensions webslte {https.'IthM.teacherspension8.co.uklnewslemployer312019104Aeachers-pensions•valuation-reporLaspx}. Under the definitions set out in FRS 102. the TPS is a multi*mployer pension scheme. The trust has accounted for its contributions to the scheme as tF it ware a defined contribution scheme. The trust has set out above the infom)ation available on the scheme. At the year end the pension liabilty due to the TPS was £51,483 {202Tr. £51,683). Page 34

ST AUBYN'S (WOODFORD GREENI SCHOOL TRUST (A Company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Oporallng Iwo commltmgnts At 31 Juty 2021 the School had commitments to make future minimum 18ase payrnent$ under non- cancellab18 operating leases as follows: 2021 2020 Not later than 1 year Laterlhan 1 year and not later than 5 years 47.450 10.975 58,425 25. Governorn. Ind•mnlty in8uranc• The governors, are covered against claims of negligence and error wtth professional indemnty insurance wh(ch ha8 a limit of £5.000.000 (2020: £5.000,000). 26. Related party transactions During Ihg year thore were transadions with the follchving Tetat&J partie8'. 2021 2020 Achitéctural servlces provkled by M Foster Professional services provided by Fox Witltams LLP 5.950 1.780 2.280 Page 35