Charity Registratlon No: 307409
Company Registration No: 432077
RYDE SCHOOL
WITH UPPER CHINE
Annual Report 202 1
111
*AB03ZJJT•
19101Q022
COMPANIES HOUSE
A13
#272

RYDE SCHOOL
CONTENTS
Page
No.
Report of the Govemors induding the Slralegic Report
2-13
Report of the Independent Auditor
14-16
Statement of Financial Activities
17
Balance Sheet
18
ststement of cash flows
19
Notes lo the Accounts
2¢>33

RYDE SCHOOL
(Company No: 432077. Charity No. 307409>
REPORT OF THE GOVERNORS
Reference and adminislrntive detsils
Nam•:
Ryde School {known as Ryde School with Upper Chine)
BOARD OF GOVERNORS (All Govemors are Directors for the purpose of company kqwl
Chairnian:
Professor C.C. Lees MB BS BS¢ MD FRCOG
Vicè Chaimian and Honorary Governor:
Dr M.D. Legg BSC. M.B.B.S.
Her¢ditary Governor.
Dr A. Mclsaac M.A.. D.Ph
Honorary Governor:
Mr N. J. Wakefield M.A. (Rebred 31 August 2020)
Governots:
Mrs J.E, Bland Cert.Ed. RSA Dip SpLDs
Miss Chantal-Aimee Doerries Q.C.
Mr A.M. Crawford
Mrs M. Esfandiary {Appointed 11 June 2021)
Mrs D.K. Haig-Thomas BA Hons.
Mr P. Hamilton
Mrs A.V.F. Harvey {Resigned 11" June 20211
Mrs. C. Jacobs RGN
Mr A.P. Ramsay
Mrs. J.L. Wallace-Dutton
M. P.l.J. Weeks
Dr M.L. Wilson D.Eng {Resigne¢J 27 November 2020)
Clerk lo the Governows and Company Secretary:
Mr J. Marren Bsc.. ACA
The Headmaster:
Mr M.A. Waldron M.A. (Cantabl. M.Ed
Thg Buvsar:
Mr J Marren Bsc.. ACA
Honorary Visitor
The Rt. Revd. Christopher Foster. the Bishop of Portsmouth
Bank•vs:
HSBC, 38, Union Street, Ryde, Isle ofWighL P033 2LJ
Auditor:
BDO LLP. Arcadia House, Maritime Walk. Ocean Village. Southamplon. S014 3TL
Solicitors:
The School seeks legal advice fri>m several firms, depeThlent on the top￿.
Investment Advisors:
Cazenove. 12 Moorgate. London. EC2R 6DA
Registergd office:
Queens Road, Ryde. Isle of Wighl, P033 3BE

RYDE SCHOOL
REPORT OF THE GOVERNORS Icontlnued
The Govemors present their report together the financial slatements for the year ended 31st ALtgusl 2021.
1. Objectlves and activities
Charltable Objects and Aims
Ryde School is a charity that seeks to beneffit the public by pursuing and delivering rts educational aims detailed
below. Its fees are set al a level that ensure financial viabilty and provide excellence in education. The School
welcomes pupils from a variety of backgrounds. Unlike many schools. pupils are not selected on their academ
ability bul need to demonstrate that they will fft into the School communrty and benefit from the education on offer.
Econom￿ ststus. ethnicity. race and religion are nol part of the assessment prccess as the School is an equal
opportunity organisal¢on and encourages a community that is free from discriminats'on although the School is a
Christian foundation registered with the Church of England dkxese of Portsmouth as having a parb"eular religious
¢hara¢ter. The in¢ul¢ation of Chri$lian values is important to the School but tt rec4)gnises the values of other faiths.
The School endeavours to folk)w best practice as recommended by the Chanty Commission in discharging its
aims and obje¢tives to the benefit, as far as possib￿, of the Wb1￿ both locally, nationally and internalNin811y.
School Values
We am an Island seht>oI with a global outlook
Our purpose is to provide wortd-¢lass edu¢ation on the Isle of Wight. enabling our boarding and day pupils to
flourish in MIND. BODY and SOUL. We will nurture the CHARACTER, SKILLS and VALUES to help them make
positive difference and embrace the opportuniti.es of the wider wortd.
WE BELIEVE
eoarding prowdcs
ar￿ opportunities for
A rv4orous
ard baL4nced
c￿riCUluM makes us
krA>Yiled9eable ar
CLinous arwj fosier5
a litr*long ol
ieartwwJ
VJ obli9aEiCMI<
need to be
Posilwe educat*x4
Improves well-
b¥ng and erk)b￿S al in
r cLYrmunit
Iv IINive

RYDE SCHOOL
REPORT OF THE GOVERNORS (Conllnued)
As an IB School wè want ourpuplls to become..
BALANCED
CARING
COMMUNICATORS
COURAGEOUS
CREATIVE
INQUIRERS
KNOWLEDGEABLE
OPEN-MINDED
PRINCIPLED
REFLECTIVE
RISKTAKERS
SELF-DISCIPLINED
THINKERS
As a Round Square Candldate School we belleve in and encourage puplls to engage wlth..
Inlernalionalism
Democracy
Environmentali$m
Adventure
Leadership
Seryice
As a PSB School we encournge ourpuplls..
To learn to lead. to work as a team and to opeiate independent
To be reflective. seeing all leaming as a chance to review and improve
To lake every opportunity lo develop their cornmunicatr.on skills
Monitoring
The School assesses its success in delrvering its values through the work of the Board suWmmittee$ who
monitor the delivery of those aims. The eriteria and outcomes are referred to in more detsil throughout this report.
The School's ¢utrent Strategi¢ Pkn available on the website WbYW.rydeschool.ory.uk. is monitored by the Finan
and General Purp05es Commrttee.
Public Benefft
The governors confim that they have due regard to the guidan￿ on Public Benetit published by the Lharity
Commission in exercising their power and dubes. The Boar(1 of Governors 1$ committed to meeting its
sponsibilities with regard to the prOvis￿n of benefit to the wder public.
2. Structure, Governance and Management
The School is committed to maintaining the high standards of Govemance recognised in recent School
inspections.
2.1 Goveming Document
The School is govemed by its Memorandum arKI A￿leS of ASs￿a￿On supplemented as necessary by bye-law5
determined by the Board of Govemors.
The company is a chanty limrted by guarantee incorporated on 28th March 1947 and registered as a charity on 4th
March 1W, its &tivities being the provision of educatK>n to boys and girls of all ages as well as the continued

RYDE SCHOOL
REPORT OF THE GOVERNORS (Continued)
devdopment of the School as an educath?nal resource of high quality on ihe Isle of Wvjht. Its Registered Charity
Number 1$ 307409. The School is a ￿rnPanY limited by the guarantee of its members.
2.2 Recruftment and Training of Govemo
Governors are elected by the Board for a term of four years, Yth￿h can be extended for a further four years and in
the ease of the Chairman. for a maximum term of ten years. Two Governors may be nominated by the Old
Rydeians As%xiation and one by the Upper chir￿ Ohj Girls Asxoatitin.
The cur￿n1 Goveming body represents the membership of the company. The Board sefecls new ￿ard members
on the basis of their personal ¢omFeten¢e, speryalist skills and avaik7bility.
Govemors are inducted by the School's professional Clerk and Headmaster and provided with copies of goveining
documents, bye-laws and external charitsble guidelines pertinent tx)th to independent schools and charities as
well as all the necessary statutory and regulatory compliance checks. All Governors a￿ en￿Uraged to attend
courses run by AGBIS and the Board's own regular in-house training sessions ¢)n perbnent matters and poli¢ie$.
The Board appraises its effectiveness every year.
2.3 Organisational Management
The Govemois determine, with the Headmaster. the general strategy, aims and ethos of the School. The day-to-
day management of the S¢hool is delegated to the Headmaster. Deputy Heads and Head of the Junior School
together with the Bursar.
The Board operates through two main eommillees. There is a Finance and General Purposes Committee, chaired
by Mrs Haig-Thomas which approves and monrÉors budgets. revthvs the annual audited accounts and the
School's tangible asset resource. The Educab'on Committee, thaired by Mrs Bland reviews educational and
pastoral issues in conjunclion wrth senior teaching stsff. Both committees meet each temi prior to the full Board.
The Board is also advised by a Remuneralton Committee. chaired by Mr Crawford, whth detemiines senior
salari8S.
The Govemors and Senior Management Team have Strateg￿ "away days" on major i$5ues to supplement
scheduled Board meetings.
The 8oard has a Govemance Committee. chaired by Dr Legg. which detemiines the skills the Board needs lo
function effectively and advises it on succession planning. Mr Weeks represents the Govemors on the Health and
Safety Committee and Mrs Jacobs is the lead Governor for Chikl Protecbon.
The Board meets every tem and on olher cccasions as required,. the Education Committee meets three limes
year. the Finance and General Purposes Committee meets three tsmes a year. the Strategy Group meets a$
necessary and the Remuneration Committee meets twi￿ a year.
The Remuneration Committee in conjunction with the Headmaster consKlers the approprrate level of pay for the
Senior management team. It also re¢ommends to the Board the Headmaster and Bursar's remuneration. In
recommending and assessing these levels of remunerab'on the Remuneration Committee use5 nakn.onal statistics
as benchmarks.
There are no specific related parb.es except for the parent body. with ¥rt￿m the School consults on a regular basis.
It is cognisant with both AGBIS and HMC communicatr.ons used to infom. educate and improve governance.
3. Strategic Report
3.1 Strategic Objectives
To deliver its ststed charitable aims and objectNes. the Sch￿1 is commilled to delivering an excellent all-round
education. By maintsining high standards of academic perfornance. pastoral care and citizenship and ensuring
pupils. abilities are developed to their fvll potential.
The Govemors, in fuffilling their charitsble obligations, are mindful of the need for the Sehts)I to be a¢¢essible to
the I￿[ Community by offerin9 a broad cu￿￿UluM while increasing bursarial support.

RYDE SCHOOL
REPORT OF THE GOVERNORS (Continued)
3.2 8gnefits to the Community
The School aims to provKle benefit to rts o)mmunity in three way$. Firs( the School provides finan¢ial assistance
to families who wouhj not othemse be able to afford the school fees. The level of this support varies from a
relatively small amount 10% or 20% of the fees. to a 100% bursary in limrted circumstsnces. Supwrt is offered
mostly to pupils who live on the IS￿ of Wight. but some pupils benefft from a boarding bursary and the School
works with the local authority and national charities to enable ￿ardIng for some vulnerable children who Can so
benefit. Whilst around a third of our boarder5 come from the UK. the majonty are overseas stLtdents and the
School benefits considerably from the cullural diversity and different wodd view that they bring to the School and
indeed to the Island community. Secondly. the School aims to support the bcal community through forging
educational links with state schools and by sharing facilit￿5. Thirdly. the School aims to support local and
overseas charities either by offering the use of facilit￿ or directly by fund raising.
H•adllne Ilgures lor the yearto 31 August 2021
Amount of money raised for UK charities.. £8.357
Contribution to UK GDP.. £14.6
Contribution to the Isle of Wighl economy.. £8.5 million
Totsl amount of UK tax supported by Ryde School's activities." £4.5 million
Total savings for UK tax payer as a resurt of pupils attending who would otherwise attend stste schools..
£4.5 million
Total number of UK jobs SUPFKlrted by the schoofs activity.. 343
Number of pupils receiving means tested bursarial assistants= 80
Amount of money spent on bursarial support to pupils last year." £747,446
Total number of voluntary hours that students put back into the communty throu9h voluntsry activity such
as Duke of Edinburgh = over 2,CQO
Bursarles, Scholarshlps
The School advertises &holarship5 and Bursaries in its promotional literature (Current Information). its website
and in the local press. Examinations and interviews for Scholarships and Bursaries take pla￿ in November and
February. Places are available for enty into Years 5. 7, 9 and 12. The crrteria to receive a seholarship are
significant achievement and potential either academically or in one or more of several extra<urricular areas.
Scholarships can be academic. spor( Mus￿. sailing or general {allowing for success in. for example, Drama, DT
or Art} and those in receipt of one are expected to benefit from an education at Ryde School, generally bul also in
nurturing their particular talent, and make a Fositive contribution to schwl life. The School has the same
expectations of its fee paying pupils.
Those in receipt of a scholarship will automatically get support to develop the area of skill of the award - for
example, music scholars are supported with complimentary indNidual turtion. In addition. all those awarded
scholarships be￿rne eligible for fee assistance. The kvel of fee a5sistan￿ is determined after an assessment of
parents. (or guardians.) abilty lo pay the fees". assistance can be as hKJh as 100% - and occasionally grants are
made lo assist with school trips or unrfomi. Assisted Places are offered lo some boarders, who are also assessed
a$ to the level of support that is required. Usually. one or pupils a year are nominated through the
Headmasters, and Headmistresses, Conference {HMCI Eastem European Scholars Programme. which carries out
its own assessment of parental means. Some Eastem European Scholars receive a 1000h bursary. others are
able to pay about a third of the fees.
The total value of means tested bursaries amtyJnts to £747k or about 8.3% of gros5 fee inojme. Approximately
11 % of pupils receive such support. Funding for bursar￿ comes from three sources. The School uses the rental
income it receives from the letting of the Bembridge Boarding Campus. investment income from the Educats'onal
Development Fund {these tsvo sources funded approximately 45% of means tested bursariesl; the remainder
coming from the surplus derived from fee income. It 15 a long term Strategic aim of the School to increase further
the ssze of its Educatsonal Development Fund in order to provide further means tested bursarial assistsnce.
The School conb.nues to assist some pupils already in attendance, when parental ¢ireumstsnces change. Such
help is given after means testing,. it is the sch￿I.s wish lo see such pupils complete the appropriate stsge of their
education. This has been of partiojlar importance this year in supporting families affected by the COVID-19
pandemK.

RYDE SCHOOL
REPORT OF THE GOVERNORS (Continued)
In budgeting for its awards the Schts)l attempts to strike a balance belween thè use of its rental and investment
income. and fee income, recognising that many parents have already made significant sacrifices to fund the
education of their own children. Indeed. maintaining fees at a relatsvely low figure by independent school
stsndards allows greater access by a wder range of Iccal families than is somelimes the case elsewhere and is a
¢on$¢ious consideration of school rnanagement and govemors. To foster bursarial support further the Governors
have established a reStr￿ted fvnd-"Ryde Bursary Fund. to which pa￿nts and staff donate. In addition. in order to
assist further chIld￿n whose parents might not otherwise be able to afford to choose tl, the School fosters its
relationship with other grant makn'ng bod￿ and parbcipates in the Govemmenvs Nursery Voucher Scheme.
The School has offered particular assistance to chiklren who would benefil from bjarding due to their personal or
family cirGumstanees and has worked wth the local auihority and national charities to identify and Pl￿ looked
after children or those who would otherwise not be able to access a boarding school education.
Pupils. voluntary work
Pupils and staff are encouraged lo follow the School's motto of Ut Prosim and live a life of service. Many are
involved directly and indirectly in fundraising. active community service and Iccal engagement. The School has
recently joined the Round squa￿ Organisalion which exFects of, and provides opportunities for, its member
schools engagement with voluntary activity. There are acb.ve groups such as the 'Green People. in the Sen￿r
School and ecology groups in the Junior School who engage in environment218etion
Many of our pupils in Year 10 take part in the Bronze Duke of Edinburgh Award- Last year due to the pandemi¢ a
duced number of 34 pupils dKI at least 12 hours of voluntary woth each. That is around 408 hours volunteering
in the community.
Many of our pupils ¢onty'nue doing Silver Duke of Edinburgh Award in Year 11. Lasl year 34 pupils did al least 24
hours of voluntary work each. That is in excess of 816 hours of voluntary work in tolal.
Last year 17 pupils did Gold Duke of Edinburgh Award across the Sixth Form. This included at least 55 hours of
voluntary work each. meaning al least 884 hours in total of voluntary work.
Ryde Schools aspiring med¢cs regularfy carry out voluntary medical work in the local community,. year ly
pupils vclunleered at the Isle of Wight COVID Vaccination Centre during Springlsummer 2021.
Boarders at the school also take part in ￿ular bea¢h ¢leans. pi¢king up ￿asts"¢ and other litter. Year 7 and 8
regularly carry out voluntary work in the community such as litter p￿kIng at QLtarr Abbey. and working Wlth Aspire.
local community cenlre. though last year this was curtailed by COVID-19 pandemic restrictions. In addition to
this our Year 7 and 8 pupils have been working with the Brading Roman Villa on an on-going conservation project.
Our Year 9 pupils planned and carried out a number of communtty servtce activities in the summer temi of 2020-
21 including arranging a tea party for residents at a local care home. conservation work around the School's
perimeter and litter picking in hotspots around Ryde.
In the Junior School our wpils are encoura9ed to engage with voluntary work and recent links have been made
with Quarr Abbey where pupils have helped to restore the path and assisting with harvesting apples. The Junior
School also supports the Rotary Club shoebox appeal sending grfrs and essents.als to countr.tes su¢h as Moldova
and Bosnia.
The Schc¥)I has dose links with a rural scl¥)ol in Nako. Ghana and a group of pupiLs travel there on a biennial
basis lo carry out voluntary work. leaching lessons and helping to renovate the site. A tn"p went Ghana in O¢UNov
2019 and another is being planned for 2022.The School additionally cairies out regulaf fundraising in support of
Nako S¢hool.
Th• Arts
The School's music ensembles give freely of their time to play at Iccal venues. though COVID-19 pandemic
striclions put rnu¢h of thi5 on hold last year. The swing band has played in church concerts as well as other
Island venues and our scholars somebmes perfom at Eoeal venues such as Aspire. Monkton Arts Cafe and Quay
Arts. Fiveways and Junior School MLbSiC groups play at local care homes for the elderly at Christmas lime and the
Fiveways carol singers sing al the Alzheimer Society Café in All Saints. Church hall at Christmas tirne. The local
community ss usually invited to school events su¢h as carol ser¥i¢e$. and school musical and drama producb'ons.

RYDE SCHOOL
REPORT OF THE GOVERNORS Icontlnuedl
A number of community artis￿ groups use the School's fxilities on a regular basis.. a ukulele group, lttal
ballroom dance group, Curtain Call theatre group and Domix are among those who in normal times make regular
use of the school's facilit*s. whilst the Isle of Wight Symphony Orchestra use the school's facilities and equipment
to rehearse in the run up to concerts. Some of this activity was pul on hokl due lo COVID-19 pandemic restr￿lOnS
but much has since resumed.
The sch¢Jol's music ensembles are open lo talented pupils from kxal stste schcols and members of Ryde School's
music department are heavily involved in promoting music on the Island. induding o)ntributing to the low
symphony orcheslra.
The 5¢hools' art department have supported a number of local exhibitions and somet#nes produce their own
exhibitions for public spaces such as the Monklon Arts Café.
Science. fechnologyl Engin••ring andMathomati¢$ {-STEM")
In recent years the School has worked in partnership with a Ictal Academy which has been unable to provide A-
levels in certain STEM subjects. We have given these students a¢¢ess to our A-level s¢ien¢e and maths Jesson$
at no cost and they have benefited greatly from many hours of lessons and the subject expertise of our teachers.
Ryde Schch)I staff have also delivered Pfe*xam revision sessions to pupils from Ihe same schcN)l and in addition
we have helped with the professional development of their maths teathers by providing opportunities to spend
time with our teachers and in our les50n$.
The Junior School hosts an annual a11-l￿and maths challenge for children in Years 4 and 5. Each year 8 children
from around 20 primary schools attend the even(160 pupils in total.
The School runs an annual Desun Technology ¢lub whtch 5UPPOrts the Isle of Wuht Club for Deaf Children.
Transport assistance is also offered to Ryde Academy students so that they can attend the Engineerin9 Education
Scheme events on the mainland.
The School also runs a mcKk Oxbndge intefview evening each year which beneffts a number of the most able
STEM pupils on the Island.
OtherAcademic
In addition to STEM and 'the arts,, the School runs a number of other academic initiabves which tenefit the wider
community. The school runs an annual Island-wide geography quiz for pupils in Year 9-10 although this had to be
postponed this year due to the COVID-19 paftdem￿. The schts)l also runs a Model United Nations event for local
island state schools.
The School now has an established mO¢kQxbr￿ge interview prepar2th?n evening, with over 20 pupils attending
this year. Pupils from all over the Island are invited and many have gone on to gain places at Oxbridge.
The Junior School and FNeways run ExploratDn and Discovery sessions on Saturday momings in areas such as
science. outdoor leaming and drama. These are free of charge and bring junior school age chI￿ren 109elher from
across the Island, particularly helping those who are home-schooled_ The weekly Five Ways Playgroup also allows
families to access use of the Nursery facilities as well as tea and coffee and story & music time with a member of
the Fiveways team. These sessions were suspended for some of last year due to COVID-19 pandemic
reslriclions.
The weekly Fiveways playgroup. Chitter Chatter also allows families to access use of the Nursery facilities as well
as lea and coffee and story & music time wth a member of the Fiveways team. These sessions weie suspended
or went online for some of last year due to the COVID-19 pandemic.
Sports
Many of the Sch¢Jol's sports specialists work wth the wider community. The Head of Rugby coaches regularly at
London Irish, the Head of cricket co&hes with England South-west (Bunbury) group and leads coaching on the
Isle of Wbghl, whilst a further PE teacher a￿sts with coaching Island cricket.

RYDE SCHOOL
REPORT OF THE GOVERNORS (Contlnued)
The School runs a number of communty sports iniiiatives usin9 their facilrties. Recently these have included
'Rugby Ready. afternts)ns and fcotball toumaments for Ictal primary schools. The School rowing club combines
pupils from other local schools wlh our pupils and allows them to access our facilities and coache5 a5 well as
taking part in events as a combined crew. The Head Master is a trustee of the 151e of Wight Sports Foundation.
A number of communty Island sports clubs have regularly used the School's facilities in the past academic year,
these include Shorwell netball club. IsLgnd Hockey Club. Ryde Saints football club. Isle of Wight crithet ¢lub, Ryde
Cavaliers Cricket club. Football Mondial. Veth"s Nomads. Ryde Badminton club. Ryde LTC, arbd o?kf￿ld Youth
FcKJtball club. Hampshire RFU meets.ngs are held al the School and facilities are used for coaching courses.
Our Sports Scholarships enable talented Island athletes to access education al the School whatever their finanrial
circumstances and lo develop their lalents further. This has been instrumental in helping some of the Island's most
talented athletes to develop l)oth academKalty and in their $F*yL
The Head Master is a trustee ofthe Isle of Wyht sports trust and patron of the Isle ofw￿h1 Music, Speech,
Drama and Dance FestNal.
The Isle of Wight Cricket Board partnered up wth the school a few years ago. In this short period of lime Cri¢ket
on the Island has seen a subslanlial increase in the number of young cr￿eterS (boys and girls) playing on and for
the Isle of Wight County Age groups. The Sch¢)ol is used as their training base with access lo a Merlin and 2X
Bola bowling machines in the 4 net knes the SFOrts Hall along the Gym for the strength and conditioning
training. Cricket activity, whilst disrupted by the COVID-19 pandemic, was still able to lake place for much of the
summer on the xh¢)ol'$ grounds..The school also allows the IOW cricket board to use its minibuses for away
fixtures.
Oth•r faeiliti•s
Aside from the sports and arts uses i(lentified abcNe, the faciltlies at the School have been used by some
members of the Island's Hindu Community and Isle of Wight History Sccw. The School pays direcuy for the light,
which illuminates the North of AJI Saints. church. The schools usually lends rts faeiltties to IOW Pride Parade and
The Mardi Gras though these events wefe eancelled in 2021 due to the COVID-19 pandem￿.
Ryde School runs a Summer Schi)ol, which provides opportuniti.es ￿ lttal children during the holidays lo
partscipale in a wide range of activities, also enhancing cultural experiences as they attend alongside oversea$
residential SL¢mmer School students. A number of Ryde Sthool pupils volunteered their time al the summer schwl
to run aelivities in drama, sports and STEM.
Otherstaff voluntsgring
Ryde School provides teacher training placements through Southampton Universty and Christ the King School.
Thi$ usually sees a number of trainees placed al the school each year and most of these retum to the state sector
as newly qualified teachers.
Our Extemal Relation$ Secretary is currenuy a govemor at a Ic¢al primary school., Our Head of Marketing is on the
Royal Ocean Race Club committee and is a Cowes Harbour CommissKJner and our Head of Pa51oral ¢are is the
vice-chair of the Isle of Wight Children's Safeguarding Edu¢alion sub-group which meets half-temly lo discuss
action plans, audits and strategies. Our Assistanl Head {Academicl is a guest lecturer at Southampton University.
The Head Master is a govemor at ￿ mainland schools, and a history teacher volunleers al the Island's CCF and
is a govemor at a further mainland school. The Deputy Head is an ISI inspector.
Charitable lunthraising
The school raises a large amount of money each year for UK charities. Last year this was lower than usual sin
fundrai$ing events were curtailed by the pandemic, but this still tolalled £8,357. The main recipients of this were
the schools nominated charities". Hampshire & Isle of Wi9ht Air Ambulance." Ghanalink. Red Nose Day- Wight
Brainy Bunch,. Cancer Youth Trust". MIND.. IW F￿dbank and Age UK IW.
In additi¢￿ lo money raised formally through school fundraising. a numter of our pupits have Carried ¢)ut Iheir own
fundraising initiatives wh￿h have been supported by the Sch￿1.

RYDE SCHOOL
REPORT OF THE GOVERNORS {Continued}
3.3 Perfomiance and Delivery olcharitable Objectives
School Numbers
At the start of the academic year 2020f21, the School had 735 pupils. 527 in the Senior School. 134 in the Junior
School, 74 in Fiveways. These nurnbets indude 48 1)oarders.
Academic and Educatlonal Experlence
For the second year in a row eXaMinat￿n results were awarded differenvy as a result of assessment changes in
response to the Pandemic. Primarily these vRre based on teacher assessed grades, at least al A Level and
GCSE, with the IB and IGCSE adopting a similar but not identical approach. The School took great care to ensure
results were awarded in a fair and Iransparent manner and it was especially pleasing that in the final instance only
three grades were appealed out of the hundreds awarded and none were changed by extemal bodies. It was with
relative ease that the School was able to reinstate Virtual@Ryde online leaming from January 2021 to manage the
Government imposed lockdown and as we continued wth all knns as well as pastoral and extra<urricvlar
activities we were confident that our tracking and assessment was sufficienuy robust lo ensure grades awarded
were accurate. In the summer lem we awarded regular Wor1(ing at Grades so pupls and parents were aware of
where they were heading and many were able to tske coffecbve steps.
The results achieved were excellent at all leveLs.
At GCSE. the percentage of 918 grades was al an all-tsme high of 36% 131% the previous year} with 57% of all
grades at 7 or above cornpared lo a national figure of 28.5%. In English Language more than half the grades were
at 7 or above again 1560k compared to 22.3% nationally) and in Maths 57Qk compared to 20.8Yc nalionally. We
were especially pleased that every pupil passed English and Math$ at Grade 4 or above and the number of pupils
getting the E8acc, and so demonstrating a real breadth of achievement. increased from 64% 10 87%. In the key
measure of the number of pupils getting five of more grades 94 including Maths and English was achieved an
impressive 98.8¥• success rate. There were a good number of stand-out individual performances this year with 20
ach￿ving 8 or 9 in more than seven subjects and girls each gaining ten grade 9s
At Post 16 the combined A Level and IB results prcxfjuced an average UCAS points per pupil score of 162.7 and in
the IBDP our average points per pupil was 37.3 though that is based on a small sample. The School continues to
run suceessfully three distinel academic routes through the 6 fomi to alk)w us to cater to the diverse abilities and
aspirations of our student bcxjy. Our A Level students secured their best results ever with 26.14Vo of gfades at A"
and 58% at A"IA and there were several individually impressNe performances worthy of note whilst at BTEC more
than a Ihird of students got the top grade of D-D. including every one of the Business candidates. The vast
majority went to their first Choi￿ of university but we also saw students leaving for degree apprenticeships, GAP
years and a s￿nIficant number for Careers in the servi￿. fulfilling from the slart the values of the School motto,
Ut Prosim.
In the Junlor S¢hool and Years 7 & 8 value added is measured using results from annual assessments GL
Assessment in English, Mathematics and biannual tests in Cognitive Ability. In both subjects, results are above
nats'onal expectations and attainment relative to abilty is also positive.
Additional lessons in English and Maths were intr(xJuced in Year 7 as a temporary arrangement lo help with any
necessary catch up ￿ultIng fr¢)m lockdowns but otherwise the curriculum has remained largely unaf(ered over
Lockdown. The Prep section (years 3-6) has though significanuy revised the curriculum to make for a more
Enquiry based leaming style and all pupils there now work from Chrometo)ks. Mandarin has also been
introduced to complement the Spanish teaching there.
The School was inspected by ISI in January 2018. This compliance inspection found the School to be compliant in
all areas. The report is published in full on the School website.
In September 2020 the School was ￿nfir[ned as a Round Square school after spending the previous year as a
candidate school. We have been eonfinned as co-hosts wf(h three other independent schools of the 2022 Round
Square Inlernatsonal Conference. the first since 2019. This membership. l&Jether with IAPS, HMC. PSB and IB
provide for excellent peer engagement and informal profess￿nal development
10

RYDE SCHOOL
REPORT OF THE GOVERNORS (Contlnued)
3.4 Links with parents
The School provides g￿d links wilh parents,. they are wethme lo attend many Schwl events and even with the
COVID challenge parents were able to support sports matches in the autumn and summer tems and some
outdwr concerts, plays and prrI￿Ning5. There are frequent parents, evenings and regular reports. Further
contact is provided through Parents Liaison Forums meet temily and hold one open meeting per
year. These meetings were held remotely when necessary and parental feedback suggests some will continue to
be remote going fofward., this is particularly wetomed by our l)oarders' parents.
The School runs the Ryde Connection to maintsin links with and amongst current and fomier friends and pupils
from Ryde. Upper Chine and Bembridge schools. The School has a parentsl portal giving parents direct access to
information about their child and this was s*JnrfIcan￿Y improved in 2021 with the introductson of new technology
that also includes a daily ¢ommuni¢ats"on update. Parents get a handbook annually and a termly calendar with key
dates and contacts and can contact staff directly via phone or email. The School has also continued te run parent
seminars to work with parents on key issues where home and school cooperation matters. Seminars have
included sessions on revision. coaching. L¥)dy image and social media. A specrfic consultation was undertaken on
the introduction of the new RSE curriculum_ A weekty newsletter is published to keep parents abreast of the main
a¢tivities taking pla￿ in the school with dedicated sectsons for each part of the School. The S¢hool has run an
annual survey for parents. staff and pupils to assess progress and identsfy areas for development in the last three
years and is now able to chart trends in concems. Two surveys We￿ hekl during lockdown to determine the
quality of delivery and these revealed very high levels of satisfath.on compared to national data. During lockdown
the School moved quickly to new forms of cc¥nmunTcation parents. The Head Master and key stsff have
continued lo hosted regular on-line forums though the more social events waned in the second year of the.
pandemic. The Head of Fiveways spoke to every parent individually to discuss their child's prcgress and needs
during the third national lockdown. A new email. urgent@rydeschool nel was introduced to specifically allow for
direct and urgent communi￿tt"¢n over COVID ¢oncems and a Living with COVID handbook has been in existen¢e
for over a year with new updates emailed to parents with highlighted chaThJes to reflect changes in government
guidance.
3.5 Financlal Revlew and Results for the Year
The overall surplus for the year was of £833k 12020." defficTI £598kl. The overall surplus before gains in
investments was £459k 12020.. deficit £224k before losses in investments)- As anticipated in the annual report and
aecounts last year, the School retumed to an operating surplus for the 2020121 finanaal year and antieipates an
operating surplus in 2021r22 and beyond. Based on these forecasts and the ability to call upon funds held within
the EDF fund. Governors believe the School will be able to conb'nue to operate within its existing facilities for the
foreseeable future.
Fee increases are dictated by the School's budget. which influenced by increases in teaching salaries and
inflation as well as wider influences such as the COVID-19 pandemi¢. The School educabonal surplus includes
£112.859 from the EDF fund towards its bursarial awards-, this contribution is equivalenl to 1.25Vo of fees.
Notwithstanding the COVID-19 pandernic, the Sch¢)ol Cornpleled the building of the new onsite boarding house
wh￿h was opened in Summer 2021 half lem. In order to part ffinance the construction, durin9 the year the School
drew down on the remaining £3.2m of its £4.5m banking facFlity wth HSBC meaning rt was fully drawn at the end
of the year.
3.6 Investment Porfonnance and Policy
The School had unrealised gains of £357k {2020." loss of £330k) from the revaluation of investrnents. Cazenove,
the School's investment managers operate a multi-asset unrt trust Charitab￿ fund for its charitable clients. The
School ￿ntinueS to rnaintain it5 cautw)us inveslrnenl policy.
The Governors. investment obiecbve is to optwnise growth so that in¢ome from the fund in the fvture ¢an fvlly fund
its bursary awards. The Finance and General Purposes Committee reviews investment perfomance in depth
annually.

RYDE SCHOOL
REPORT OF THE GOVERNORS {Conllnued
3.7 Reseryes and Resource
The School has operated a strateg￿ Financial Plan for several years enabling a forecast of both surplus and cash
flow to be made over the foreseeable future. This combined wilh ils review of risks and ils published Development
Plan enables the Governors to operate within the S¢hool'$ banking facilit￿$ and to provide for ongoing
development. The School's unrestrKted reserves stsnd al £16.6m (2020.. £15.8m).
The Governorfs consider that the Sch￿1 should retain approximately 6 months. expenditure in free reserves. The
charity's free reseNes represent total unrestricted reserves adjusted for tangible.fixed assets. current assets
(excluding cashl. current liabilib.es and bank loans and arnounts to £4.Om. This is principally held within the
Edu¢*tonal Development Fund of £4.3m.
The unrestricted funds are split lo reflecl the Govemors. current policy and distinguish betsveen those held for
contingency and the day to day running of the School. The assets of the School are adequate for its current
obligations and are principally represented by the School's investment in tts tangible fixed assets and fixed asset
investments.
3.8 Rlsk Manapmènt
The Board of Governors is ultimately responsible for the management of risks faced by the School. The principal
risk the School faces is the retenlH?n and recruitment of pupils. which it takes a variety of targeted measures to
mitigate. The operational risks are monito￿d by the Board but assessed by the Headmaster. Bursar and the
Sen￿{ Management Team. The results of the risk management procedures operated by the School Exe¢utive are
regularly reporteij to the Board. In addition, the Board carries out an annual overview of risk assessment and
reviews chikj protection policies and the effectNeness of their application.
The key controls in place are:
formal agendas for all Committee and Board meetings"
detailed terms of reference for Committees.
comprehensive development and finanLial strategy"
clear organiSat￿nal structure and lines of reF#)rting"
formal written policies..
fomal investment poliey",
clear authorisab.on and approval leveLs-
vetting procedures as required by law.
comprehensive insurance cover..
statutory thild protsction proceduo$'. and
regular appraisal of performance and appropriate training.
The S¢hool has adopted a recommended risks assessment prc¢edure to assess and address risks to the charity
in which the whole Goveming body ￿ a part￿1PanI annually. The Govemors, poI￿Y is to put in place measures lo
minimise the effect of any risks so assessed. The School has an effective Health and Safely Committee on which
Mr Weeks 5its as a designated Govemor The Commrttee is chaired by the Bursar and ils minutes are reviewed
regularly by the Finance and General Purposes Commtitee and the Board
3.9 Future Plans
The School's Mission Statement and Strategic Objeclives for 2021 and beyond, devekiped by both the Senior
Managemenl Team and the Board. encompasses Ihe frJttJre plans for the Schwl and can be viewed on the School
website- www.rydeschool.org.uk.
This is reviewed annually each summer tenn.
The Sch¢)ol 15 aware that private education is proving increasingly expensive for parents and strives to provide the
best possible value combined viith excellence in educatb)n and pastoral care.
12

RYDE SCHOOL
REPORT OF THE GOVERNORS {Continued)
3.10 Fundraislng activities
The school does not currenuy engage in any active fundfaising and as such has received no complaints in relation
to any fundraising actr"vrties over the course of the 2020121 year.
4. Governors
Statement of Governors. Responsi￿1111¢$ lor th• Flnanclal Statoments
The Govemors are responsible for weparing the Annual Report and the financial statements in accordance with
the CoMpan￿S Act 2006 and for being satisfied thal the finanual statements give a true and fair view.
The Govemors are also responsible for preparing the financial statements in accordance with United Kingdom
Accounts'ng Standards (United ￿.￿gdoM Generally Accepted Accounting Practice).
Company law requires the Governors to prepare financial stslements for each financial year which give a true and
fair wew of the state of affairs of the charity and of the incoming resources 2nd application of resources of the
charity for that period. In preparing these finanoal statements. the Govemors are required to:
select suitable accountsng wlicies and apply them ¢onsstently"
make judgernents and estsrnates that are reasonable and prudent.,
prepare the financial ststemenls on the going concem basis unless it 1$ inapproprrate to P￿urne that
the charity will continue to operate., and
state whether applicable accounting slandards have been followed. subject to any material departures
dis¢losed and explained in the finanaal statements.
The Governors are responsible for keeping prO￿r accounting records that show and explain the charity's
transactions, disclose with reasonable accuracy al any ts.me the financial posrtion of the charity and enab￿ them to
ensure that the financial stslements comply wtth Ihe Companies A¢1 2006. They are also responsible for
safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and delects'on of
fraud and other irregulairties.
5. Auditor
A resolution to ￿aPpoInt BDO LLP will be proposed at the Schcol's Annual General Meeting.
5.1 Statem•nt•$ to Disclosu￿ ollnfomiatlon to Ihe Audltor
So far as the Govemors are aware, there is no relevant audrt infomiation of wh￿b the charitys audrtor is unawa
and each Governor has taken all the steps that he or she ought to have tsken as a Governor in ordei to make
himself or herself aware of any le￿Want audit information and to eslablish that the charity's auditor is aware of that
inform81ion.
This ￿port has been prepared in ac¢ordan¢e the Statement of Recommended Practu - Accounting and
Reporting by Charities and in accordance with the Companies Acl 2006.
On beh￿f
theG
nors
Professor C.C. Lees
Governor
Date. 11" March 2022
13

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RYDE SCHOOL
Opinion on tho financial ststements
In our opinion. the financial statements-
give a true and fair view of the stste of the Charrtable Company's affairs as at 31 August 2021 and of its
in￿ming resources and application of resources for the year then ended.
have been propedy prepared in accordance with United Kingdom Generally Accepted Accounb'ng Practice;
and
have been prepared in a¢¢ordan¢e with the requirements of the Compan￿$ A¢1 20￿.
We have audited the financial ststements of Ryde School rthe Charitable Company'l for the year ended 31
August 2021 wh￿h comprise the statement of finanual a¢b"vibes, the balan¢e sheet, U7e stslement of tssh flows
and notes to the accounts. including a summary of SKJntfieanl accounting policies. The financial reporting
framework that has been applied in theif preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporting Stsndard 102 The Finan￿81 Reports"ng Standard applicable in the UK and Republic
of Ireland (United Kingdom Generally AC￿pted Accounting practi￿}.
Basls for oplnlon
We conducted our audit in accordance with Intemational Siandards on Auditing IUKI IISAS {UlQ) and applicable
law_ Our responsibilities under those standards are further described in the Audilorfs responsibilities for the audit
of the financial statements se¢tJon of our report. We believe that the audit eviden¢e we have obtained 1$ sufficient
and appropriate to provide a basis for our opinion.
Indgpendence
We remain independent of the Charitable Company in accordance wth the ethical requirements that are relevant
to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard. and we have fulfilled our
other ethical responsibilits.es in accordance wilh these requirements.
Conclusions related to golng concern
In auditing the ffnancial slalemenls. we have concluded that the GovemoTS' use of the going concem basis ol
accounting in the preparation of the financial sLitements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating lo events or
Conditions that, individually or colle¢tively. may ¢ast sKJniftsnl doubt on the Charitable Company's ability to
continue as a going concem for a period of at least tsvelve months from when the ffinancial siatemenls are
authorised for issue.
Our responsibilities and the responsibilii*s of tt)e Govemors wtth respect to going concem are described in the
relevant sections of this report.
Other Infom)atlon
The Governors are responsible for the other information. The other informab'orb comprises the information included
in the Annual Report. other than the financial ststements and our auditor's report thereon. The other information
comprises the Report of the Governors. Our opinion on the financk31 stslements does not cover the other
information and, eX￿p1 to the extent othemse expluyy stated in our report. we do not express any form of
assurance conclusion thereon. Our responsibilty ￿ to read the other inforTnation and, in doing so, consider
whether the other information is materially inconsistent with the financial ststements, or our knowledge obtained in
the course of the audit. or otherwise apFears lo be materially misstated. If we identify such material
in¢onsislencies or apparent material misstslements. we are required lo detennine whether this gives rise to
material mi55talernenl in the financial staternenls themselves. If, based on the work we have perforned, we
conclude that there is a malerial misstatement of this other infomation. we are required to report that fact.
We have nothing to report in this regard.
14

INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF RYDE SCHOOL
Other Companies A¢t 2006 reporting
In our opinion. based on the work undertaken in the course of the aLKliL'
the information given in the Report of Ihe Govemors. which includes the Directors. Report and the Strategic
report prepareé for the purposes of Company Law. for the financial year for which the financial statements are
prepared is consistent with the financial ststements." and
the Strategi¢ Report and the Directors. Rewrt. which are included in the ReFQrt of the (>)vernors, have been
piepared in accordance with aPpI￿able legal requirements.
In the light of the knowledge and understanding of the Charitable Company and its environment obtained in the
course of the audit, we have not idents"fEd material mi5Staternent in the Govemors, report.
We have nothing to report in respect of the following matters in rel?￿n to which the Companies Act 2006 requires
us to report to you if. in our ¢¥inion-
adequate accounting records have not been kept or retums adequate for our audit have not been received
from branches not visited by us.. or
the financial statements are not in agreement the accounts'ng records and retums.. or
ertain disclosures of Directors. remuneral￿n specffied by law are nol made". or
we have not received all the infomiation and explanations we require for our audit.
ResponslbllRles of Governors
As explained more fvlly in the Slatemenl of Govemors. Responsibilities for the financial slalemenls. the Governors
(who are also the directors of the eharilable company for the purposes of company lawl are responsible for the
preparation of the financial statements and for being satisfied that they gsve a true and fair view, and for such
intemal control as the Govemors determine is necessary to enable the preparation of financial stslemersts that are
free from matefial misslatemenl. whether due to fraud or error.
In preparing the financial statements. the Governors are responsible for assessing the Charitsble Company's
ability lo continue as a going concern. disclosing. as applicable. matters related to going concern and using the
going concern basis of accounting unless the Govemors either intend to liquidate the Charitable Company or to
cease operations, or have no realistic allemab.ve but to do $0.
Audlto¢s responslblllties for the audit of the finan¢i•l ststements
We have been appointed as auditor under the Companies Acl 2006 and report in accordance with the Act and
relevant regulations made or having effect thereunder.
Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are free
from material misstalemenl, whether due to fraud or error, and to issue an audilorfs report that includes our
opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audrt conducted in
accordance with ISAS (UK} will always delect a material misstatement when il exists. Misstatements can arise
from fraud or eiror and are considered material if. individually or in the aggregate, they could reasonably be
expecletj to influence the economic decisions of u5efS taken on the basis of these financial statements.
Extent to whKh the audit was capable of dete¢tsng iffegularifies. induding fraud
Irregularities, including fraud. are instsnces of non-compliance wrth Laws and regulations. We design procedures in
line with our responsibilities. outlined atove, io detect material misstatement5 in respect of irregularities, including
fraud. The extent lo which our procedu￿$ ￿ Capable of detecting irregularities, i￿luding fraud is detailed below..
We considered those laws and regulations that have a direct impact on the financial staternenls. such as the
Companies Acl 2006 and Charities Act 2011. We evaluated managernenfs incents"ve5 and ¢)PPOrtunities for
15

INDEPENDEKf AUDrrc¥irs REPORT TO THE MEMBERS OF RYDE SCHOOL
fraudulent manipulation of the financial statements (indtrding the risk of ove￿Ide of contro15) and determined that
the principal risks werè relateil to lnapy0F￿attlournal entrEs to manipulate financial results.
prrTrdU￿S performed by the audiitean inctuded".
Discusgons with management and those rtharyed with govemwKe regarding cons*Jeration of known or
8USP8cled instances of non-￿￿'anCe th laws and regulatiThis and fraud.
Obtsinwig an understanding of controls desh3ned to wevent and detert iffegularities, induding speclfic
consideration of controls and accounting pcAKies relating to ggnifieant xcountro esb"mates:
Revw4ry minutes trom finan¢e and general purpose ccffirnfftee meetings for evidence of any fraud or
rThi-rXJMp(ian￿ with lawts aThJ regulation$"
Communicatsng ￿￿Vant laws and regulat￿n$ and Kotenb"al fraud risks to all engagement team members
and ￿mainIng alert to any indicat*Jns ot fraud or rKJn•compliarTh with laws and regulati¢)ns thrc¢ughout the
audit and
Assessing ioumal ffitries as part of p*nnéd audit approxh, with a Parts￿lar fwus on journals entries
to key ffiancial statement areas.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements.
cognising that the risk of not detecting a materol mtsststerr*nt due to fr8ud higher than the risk of nol
detecting one resutting from error. as fraud may involve deliberate ￿n￿alment by, for example. forgery.
misrepresentattons or through collusion. There are inherent limitatiDns in the audit procedures pertormed and the
further removed non-compliance ￿th laws and regulaiKJns is from the events and transactions reflected in the
financial statements. the less likely ￿ are to become ￿re of IL
A fvrthor description of Lwr ￿SponSIbl￿tieS for the audrt of the financial slatemenls 1$ located at the Financial
Reporting Counol's I'FRC'S") website at
hlt s..Il￿.frc.Q
.uklaudrtotsres
nsibililies. This desen"ptKY¢ form5 part of Our audrtofs reFort.
Use of ¢)ur report
This reFQrt ts made soldy lo ihe Charitable c￿￿pan￿S members, a$ a bW, in accor¢Jance with Chapter 3 of Part
16 of the Compan*s Acl 2(￿￿. Our audit work has been urmlertaken so that we rn￿h1 state to the Charitab
Company's members Ihose matters we are required ID slate to them in an audilorfs report and for no other
purpose. To the fijllest extent permrtled by kw. we do not accept or assume resronsibility to anyone other than
the Charitable Company and the Charilabl8 Company's mwnbers as a ￿y. for our audit work, for Ihis ￿port, or
for the opinions we have fomied.
David I'Anson (Senior Statutory Auditor)
For and on behawof BDO LLP, slatulory auditty
Southampton
Date 16 March 2022
BDO LLP 15 a limited liability Partne￿hIp regi5t¥ed in E￿land an(t Wath Iwth registe￿ number OC305127}.
16

RYDE SCHOOL
STATEMENT OF FINANCIAL ACTIWtIES
(INCORPORATING INCOME AND EXPENDITURE ACCOUNn
FOR THE YEAR ENDED 31ST AUGUST 2021
Unrestricted Unrestricted
General
Designated RKtrlcted
Fund
Funds
Funds
Total
2021
Total
2020
Income Irom:
Donations
Charitable activilie$-.
Fees receivable
Other educational income
Other trading activities
Investments
Other Income
74.590
74,590
8.307
9,010.853
180,426
38.887
9,010,853 8,318.139
180,426
200.596
38.887
15,129
134.695
126.605
97.598
10
134.695
97.598
Total Income
9,327.764
134,695
74.590
9,537.049 8,668.776
Expendltufe on:
Raising funds
Charitable activities
Gross of furlough
8.548
8,548
9,289
9,069.828 8.883.720
97.598
388,318
9,050.859
97.598
18.969
Total expendlture
9,148.457
8.548
18.969 9,175.974 9,281,327
Net in¢omel{expendrturel be￿e gains
on investments
179.307
126.147
55.621
361.075
1612.551 }
other income
97.598
97.598
388.318
Net gainsl{losses} on investments
and Sa￿ of assets
16.916
357.320
374.236
(374.005}
Net Incomellexpendlture)
293.821
483.467
55.621
832.909
{598,2381
Transfers between funds
15
112.859
{112.859)
Net movement In funds for tho
year
406.680
370.608
55.621
832.909
{598,2381
Reconciliation of fvnds:
Total funds brought forward
11.906.428
3.892.335
91.472 15,890.235 16,488.473
Total funds ca￿led forward
12,313.108
4.262,943
147.093 16,723.144 15,890.235
All of the Charity's activit￿ in the ab)ve two ffinancol years a￿ derived from ¢onbnuing operat￿n$.
All gains and losses recognised in the year are induded above.
The r￿leS on pages 20 to 33 fom part of these accounts
17

RYDE SCHOOL
BALANCE SHEET
AT 31ST AUGUST 2021
Notes
2021
2020
Fixed A680ts
Tangible fixed assets
Investments
21.383.593
3.642.C67
17,484,634
2,784,746
10
25.025.660
20,269,380
Current Assets
stock
Debtors
Cash at bank and in hand
11,320
383,620
544.758
10,122
315,634
1,249.191
11
939.698
1,574,947
Liabilities
Creditors falling
due wrthin one year
12
(3.031.315)
12,420,390}
Net Curr¢nl Liabilities
(2.091.617)
{845,443}
Totsl Assety less Current
Llabillties
Creditors falling
due after one year
22.921.690
19,423.937
13
(6.210.898)
13,533,702}
NET ASSETS
16,723.144
15,890,235
The funds of the charity
Unr•stricted In¢ome Funds
Designated Educational
Development Fund
General funds
4,262,943
12,313.108
3,892.335
11,906.428
Total Unrestrict•d Funds
15
16,576,051
15,798,763
Restrlcted Income Fund8
15
147.093
91.472
TOTAL FUNDS
16,723.144
15,890,235
Th
tements We￿ approved by the Board of Govemors and authorised for issue on
Professor C.C. Lees
Governor
Date. 11" March 2022
Company Number.. 432077
The notes on pages 20 10 33 fomi part of these accounts
18

RYDE SCHOOL
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST AUGUST 2021
Notes
2021
2020
Net cash Inflow from operating actNltles
1,824,698
738,288
Cash flows from investing activities
Dividends, interest and rents from
investments
(134,695)
1126,6051
Purchase of tangible fixed assets
Purchase of investments
Cash realised from sales of investrnents
14.581.695)
(500.000)
{2.521.2061
{1,250,0001
2,001,524
Net cash used in investing a¢tivitios
15.216.390)
{1.896,2871
Cash flows from financin9 aclivities
Repayment of borrowing
Repayment of rnortgage
New borrowngs
152,987)
{275.290)
3.015,534
1278,4291
(106,8961
1,284,466
Net cash provided by
financlng act5vltles
2,687.257
899.141
(Decrease) in cash and cash equlvalents
In the reportlng period
{704,434)
1258,8581
Cash and cash equivalents at the beginning
of the reporting perlod
1.249.191
1.508.048
C•$h and cash equivalents at the end of the
reporting period
544.758
1,249.191
The notes on pages 20 to 33 form part of these accounts
19

RYDE SCHOOL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST AUGUST 2021
Accounting Policies
Ryde Schcol is incorporated in England and Waks as a company limTted by guarantee not having share
capital. There are ¢urrenlly 14 govemors who are also members of the company. Each member has
undertaken to conlribule to the assets in the evenl of a wnding up a sum not exceeding £1. Ryde School is a
registered charity. The registered office is given on page 2.
The principal accountin9 policies adopted. judgements and key sources of estimation uncertainty in the
preparation of the finanoal statements are as follows..
Basis of Preparation
The financial statements have been prepared under the hiStOr￿al cost convention. in accordance with
Accounting and Reporting by Charities: Statement of Recommended Pra¢b"ce appli¢able to ¢harttie$
preparing their account5 in accordano with the Financial Repo￿.n9 Stsndard applicable in the UK and
Republic of Ireland (FRS 102) leffectNe 1 January 2019): and the Companies Act 2006.
Ryde Sthool meets the definIt￿n of a publt benefft entity under FRS 102.
Group financial statements
The financial statements show the resurts of the parent entity alone and have not consolidated the results of
the subsidiary undertaking on the grounds of materiality.
Praparation of the accounts on a wng concem baws
In preparing the financial stslements on Ihe going concem basis the Goveinors have prepared financial
forecasts for the financial periods ending 31stAugust 2026 taking into a¢countprineipalrisks and
uncerlaintie5 affecting the School's operations. including those arising from the COVID-19 pandemic.
Although the COVID-19 pandern￿ dKI have a signtficant imp&t on the School's financial performance in the
prevKtrUS financial year. the Schwl saw a return to an operabng surplus for the financial period to 31 August
2021 and a further surplus is anb"cipated for the 2021122 financial year and beyond. Based on these
forecasts and the ability to call upon funds held wthin the EDF fund. Govemors believe the School will be
able to continue to OFerate within its existing fxillt￿S for the foreseeable future.
Accordingly the Govemors have concluded that there are no material uncertainties about the School's ability
to continue as a going concern and consider it appropriate to continue to prepare the financial statement5 on
this basi$.
Incoming Rosources
Fees receivable and charges for ser4us and use of premises are accounted for in the period in which the
service is provided. Fees receivable are stated after deductsng allowanos and bursaries.
Interest on funds held on depostl is included when receivable and the amount can be measured reliably by
the charity,. this is nomalty upon notrficab.on of the interest paKI or payable by the bank. Dividends are
recognised once the dividend has been declared and notification has teen received of the dividend due. This
is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.
Grants and donalions are recovered when the school is entitled to the income, rt can be measured reliably
and rt is probable it will be received.
20

RYDE SCHOOL
NOTES TO THE ACCOUNTS Icontlnu¢d
FOR THE YEAR ENDED 31ST AUGUST 2021
Resources Exp•nded
Expenditure is accounted for on an accruals basis.
Costs of generaling funds are those costs incurred in attracting voluntary income and investment
management fees incurred as a result of maintaining the Sthool's investrnent portfolio value.
Charitable activities include expendrture associated with the proVis￿n of educational services, including
boarding lacilities. and include both the direct costs and sUp￿rt costs relating to those activities.
Governance costs include those incurred in the govemance of the School and its assets and a
primarily associated Wbth conststutional and statutory requirements and are allocated to charitable
activities.
Support costs include central fvnction5 and these are all￿ated to resources based on activity.
Tangible Flxed Assets
Individual fixed a$5ets cosb'ng £500 or more are capilalised at ¢osL
Tangible fixed assels are stated in the balance sheel at cost less depreciation on a straight line basis at the
following annual rates..
Freehold land
Freehold buildings
Furniture, equipment and ma¢hinery
Motor vehicles
10%- 33%
25%
Tr•n$ferb•lween Funds
A transfer is made behveen the general unrestricted funds and the Educats'onal Development Fund lo finance
bursaries and sehoL8rships.
Investments
Investments are staled at their market value. The value of unit trusts is the closing quoted market price. The
$latement of finan￿al ath"vities includes the net gains and losses arising on revaluation and disposals
throughout the year.
Investrnents in sUbS￿larieS are ststed at cost tess any provision for impairment
PenSi(￿S
The School contributes to the Teachers. Pension Defined 8enefft Scheme at rates set by the Scheme
Actuary_ The Scheme is a multi*mployer Fension scheme and it is not possible to identify the assets and
liabilities of the Scheme which are attributsble lo the School. The scheme 15 a￿oUnted for as a defined
contribution scheme.
The School also operates defined contribubon schernes for certain non4eaching staff.
Contributions io both schemes are charged to the Statement of Financial Activities as they become payable in
a￿Ordance with the rule$ ofthe schemes.
Stocks
Stocks are valued at the l¢)wer of cost and net realisable value.
Debto
Debtors are measured on initial recognition at settlery￿nt amount after any trade discounts.
21

RYDE SCHOOL
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31ST AUGUST 2021
Cash at bank and in hand
Ca$h at bank and cash in hand includes cash and short temi highly liquid investrnenls with a short maturty of
three months or less from the date of acquisiti'on or opening of the deposit or similar account. Cash holdings
within the investment portfol￿ are therefore fecognised as cash at bank and in hand on the balance sheet.
Cr•ditors
Liabilities are recognised where it is more likely than nol that there is a legal or conslruclive obligation
committing the charity to pay out iesources arKI the amount of the obligation Can be measured with
reasonable certainty.
raxadon
Ryde School. as a registered charity, is exempt from Corporabon Tax under Chapter 3 of Part 11 to the
Corporation Tax Aet 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that
surpluses are applied to ils charitable purposes.
Flnanclal Ins¢wments
Basic financial instruments are Inrt￿lIY recognised at tranwtion value and subsequendy measured at their
settlement value.
The school has entered into an interest rate swap agreement regards to the bank loan to offset the
impact of rising interest fates. The arrangement is measured at fair value and the asset or liabilrty is
recognised on the balance sheet. Changes in fair value are reported through ihe Statement of Financial
Activities.
The bank loan is accounted for at amortised cosL
Operating leases
Rentals payable under operating leases are eX￿nSed on a strawht line basis over the lease term.
Fund accountlng
Restricted funds are those whth must be applied in accordance wrth the purpose spe¢ified by the donor.
Expenditure relating to these pu￿SeS is therefore charged directly to the fund.
The unreslrthd income funds comprise those funds whth the Govemrs are free to use for any purpose in
furtherance of the charitable objects. Such funds include desvJnaled funds where the Governors, al their
discretion. have created a fund for a Specif￿ purpose. Transfers of funds betsveen general unrestr￿ed funds
and designated funds are approved by the Governors.
Judgements in applying accounting pollcies and key sourcgs of esfyinati<￿ uncertalnty
In preparing these financial ststemenls. the govemors have considered the following foms of estimation
uncertainty..
Fixed assets
Residual value of assets.
Economic lives of assets.
Debtors
Impaiment of debtors are assessed to idents'fy nel recoverable amounis.
Swap
Underfying di$￿Unt rate$ when undertaking the fair value of the interest rate swap.

RYDE SCHOOL
NOTES TO THE ACCOUNTS (¢¢Mrtinu•d)
FOR THE YEAR ENDED 31ST AUGUST 2021
2. Fees Recelvable
2021
2020
Fees Receivable
Less." Scholarships and Bursaries
9,802.991
1792,138}
8.874,746
1556,607)
9.010,853
8.318.139
Net Incomlng Resources for the year
ThÈs is stated after Charging.
2021
2020
Auditor's remuneration
Depreciation- owned assets
Operating lease ￿nI¥l$- equipment
15,450
682.736
100.496
1 S,000
680,230
50,315
Other Income
2021
2020
Other Educatlonal Charitable Aclivities
Site sub-letting
Holiday school
170.500
9.926
190,546
10,050
180.426
200,596
Other trading income
Insurance commissK*ns etc.
Sundry
19,646
19.241
9,000
6,129
38.887
15,129
Furlough Incom•
97,598
388,318
Charitable actlvllles
2021
2021
2021
2Q21
Total
2020
Totsl
Gtn¢ral Design4t
Fund
Fund
Fund
Charltable actlvllles
Staff ¢o$ts
Gross of furlough
Other direct costs
Depreciation
Bank and loan interest {see note 7)
Support cost
Governance costs
Raising Funds
Total
5.899.982
97.598
1.340,931
682,736
90.451
1.035,983
776
5.899.982
97.598
18.969 1.359.900
682,736
90.451
1.035.983
776
8.548
18,969 9,175,974
5.623,612
388,318
1,236,354
680,230
214,461
1.125,932
3,131
9,289
9,281,327
8.548
8,548
9.148.457
The governors consider the charity lo have a single Charitab￿ activity. the provision of education services.
23

RYDE SCHOOL
NOTES TO THE ACCOUNTS (conllnuedl
FOR THE YEAR ENDED 31ST AUGUST 2021
Analysis of support and govemance costs
2021
Total
2020
Total
Support
Governance
costs
Staff costs
Other
634.074
401.909
634.074
402.685
603,706
525.357
776
1.035.983
776
1.036.759
1.129.063
Interest Payable
2021
2020
Bank interest
Bank loans
Mortgage interest
Swap liability
2,000
75.465
12.986
1,819
41,733
17.622
153,287
90.451
214.461
Employees
2021
2020
Staff costs during the year.
Wages antJ salaries
Social Security
Pension costs
5.147.371
511,822
883,285
4.819,137
505,191
902,990
6,542,478
6,227,318
The average number of employees of the Schwl was as folb)ws:
2021
2020
Teaching staff
Catering, cleaning and maintenance staff
Adminislralion staff
Support staff
101
105
52
18
14
18
11
186
189
The numter of employees whose emoluments exceeded £60.000 were..
2021
2020
£60.000- £69,999
£70.000- £79,999
£80,000- £89,999
£90,000 - £99.999
£100.000 +
No remuneration or beneffts were paid to any Govemor during 2021 or 2020. During the year Govemors
incurred and reclaimed travel expenses of £766 12020". £1.5041. Govemots are indemnified under the
School's publ￿ liabilily policy the overall premium forwhich costs £1.47512020'. £1.473).
Key management personnel
The aggregate amount of employee benefits paid to key management personnel was £593.344 {2020:
£542,560)

RYDE SCHOOL
NOTES TO THE ACCOUNTS Icontinuedl
FOR THE YEAR ENDED 31ST AUGUST 2021
Tangible Fixed Assets
Frnfrhold
Furnilure.
Land &
Equipment
Buildlngs & Machlnery
Motor
Vehlcles
Total
Cost
At 1 st September 2020
Additions
21,327,278
4.323.811
S,193,262
257.890
60.401
26.580,941
4.581,701
At 31st August 2021
2S,651.089
S,451.152
60,401
31.162,642
Depreclatlon
Al 1st September 2020
Provided during year
5,095,915
377.314
3,954,210
295.642
46.182
9.786
9,096,307
682.742
At31stAugust2021
5,473.229
4,249.852
55,968
9,779,049
Net Book Value
At 31st August 2021
20,177,860
1,201.301
4,433
21,383,593
Al 31stAugust 2020
16,231,363
1,239,052
14,219
17.484,634
Included in the figure lor freehold land and buildings ts freehold land of £1.760.000 {2020'. £1,760,000)
which has not been depreciated.
10. Fixed A$$91 Invoslrnents
2021
2020
Qyoted lat market v•lue
UK listed unil trust
3,641.967
2,784,646
3,641.967
2,784,646
2021
2020
Investmenl In Subsidiary
100
100
Ryde School ConstnKtion Limited is 100% owned subsidiary (Company number. 10513227}. The subsidiary
is being used to undertake a new boarding house devebpmenl on the Ryde Schcol site. The subsidiary has
not been consolhlated as rt is not deemed material to the group. The subsidiary's registered address is Ryde
School, 7 Queens Road. Ryde, Isle ofWighL P033 3BE.
25

RYDE SCHOOL
NOTES TO THE ACCOUNTS (conllnued)
FOR THE YEAR ENDED 31ST AUGUST 2021
10. Fixed Asset Investments qcontlnued)
2021
2020
Movement in year
At 1st September 2020
Acquisitions at cost
Net profiU(loss) on revaluation
2,784,647
500,0
357.320
3,866,344
1751,5241
(330,1731
At 31 st August 2021
3,641,967
2,784,647
The unit trust fund 1$ invested solely in the Schroder Multi-asset unit tru$l fund.
Investment income is derived from.
2021
2020
UK listed unit trust
Rent receivable
UK bank and other inlerest
134,677
122,617
18
3.988
134,695
126.605
11. Debtors
2021
2020
Fee accounts
Other debtor$
Prepayments
213.441
3,210
166,969
221,060
3.352
91.222
383,620
315,634
12. Credltors: Amounts Falling Due
Wlthin One Year
2021
2020
First Debenture Loans 5.5%
Mortgage
Bank loans
Trade creditors
Accruals
Social Security and other taxes
Fees received in advance
Other creditors
Interest rate swap- new
Interest rate swap- old
950
69,999
476,717
142,664
205,147
137,594
1,467,711
506,954
23.579
950
69,999
298,050
148,851
221,398
127.550
1,037,054
497,794
12,154
6.591
3,031,315
2,420,390
The debenture loans are redeemable al the option of the company on giving three months. notice.
Fees in advance represent fees receNed in advance of 31 Augusl each year for the Autumn temi and
beyond, which commences in September.
26

RYDE SCHOOL
NOTES TO THE ACCOUNTS Icontinu8d)
FOR THE YEAR ENDED 31ST AUGUST 2021
13. Creditors: amounts falling dtse after more than one year
2021
2020
Bank loans
Mortgage
5.424.016
663.338
2,659,632
733,336
6,087,354
3,392,968
Interest rate swap
123.544
140.733
6.210.898
3.533.701
Due wlthin one year
An analysis of the maturity of loans is given bekjw:
2021
2020
Amounts falling due within one year or on demand:
Bank loans
Mortgage
476.717
69.999
298,050
69.999
546.716
368,049
Due In more than one year
Due in rnore than one year but not more than ttvo
Due in more than years but not more than fve
Due more than five years
551.428
2,122.582
3,413,346
568,048
1,704.145
1.120,376
6,087,356
3.392.569
The bank loans and mortgage are se¢ured on the S¢hool'$ p￿miseS in Ryde and Bembridge and a fixed and
floating charge ovei all assets of the Schwl. Interest is being Charged at 1.590A plus base rate.
14. Financial inslruments
The charity's financial instruments may be analysed as folkjws..
2021
2020
Flnanclal assets
Financial assets measured at fair value through the ststement of
financial activity
Financial assets that are measU￿d at amortised cost
3.641,967
2.784,647
761,409
1,473,603
Flnanclal Ilabllftles
Financial liabilits'es measured at amortised cost
Derivative financial instruments designated as hedges of variable
interest rate risk
7,463,141
3.826,675
147.123
159.878
27

RYDE SCHOOL
NOTES TO THE ACCOUNTS Iconlinuedl
FOR THE YEAR ENDED 31ST AUGUST 2021
14. Flnanclal instruments (contlnued)
Financial assets measured al fair value through the slatement of financial activity comprise fixed
asset investrnents in a UK listed unrt trusL
Financial assets measured * amorttsed cost comprise cash, trade debtors and other debtors.
Financial liabilities measured at amtytised cost comprise the debenture and bank loans (including
mortgage). trade creditors. other creditors and accruals.
Derivative financial instruments designaled as heth3es of ¥a(iable interest rate risk c£*mprise interest
rate swaps.
In the year ended 31 August 2011 the School t#)rrowed funds from ils bankers under two 15 year term
loans of £1.5m and £3.7m respectNely I"Existing Facilities"). To hedge the potentsal volatility in future interest
cash flows arising from movements in the HSBC base rale. the School entered into floating to fixed interest
rate swaps with a nominal value equal to that outstanding borrowings ('Exisb"ng Hedge'l. The hedge was
fixed al 2.785%, the resutt of whi¢h is that at the year end, the School was out of the money due to the low
base rate and a l￿bIlity for this commitment is held on the balance sheet. This hedge expired on 15
September 2020. The derivatives aTr accounted for a$ a hedge of variable intsrest rate ri$k$. in aecordanee
with Charity SORP FRS 102 and Section 12 of FRS 102 and had a fair value of £nil 12020.. £6.5911 al the
balance sheet dale. The change in fair value in the year was £3.584 {2020.' £35.023I and the balance in th8
year was cash settled movement in the fair value adjustment in other gains and 105ses on the Stalernenl of
Finan¢ial Activities.
In the year ended 31 August 2020 the School entered into a new secured facility agreement with its
bankers relating lo term loan facilities of £4.5m to finance the build of ils new boardiThJ facility {'New
Facilities) which were fully drawn al the year end_
As a res￿￿ of the expiry of the Existing Hedge on 15 September 2020 and the erttering into the New
Fa¢ilities, on 24 July 2020 the School entered into new a fixed interest rate swap to hedge the potential
volatility in future interest cash flows arising from movements in the HSBC base rale I'New Hedge"}. The
New Hedge comrnenced on 1 April 2021 and terminates on 28 June 2030 and covers an initial principal
amount of £6,711.234 being the entsre amount anticipaied to be outstanding at 31 March 2021 under the
Existing Facilities. New Faciltti'es and the mortgage.
The New Hedge is fixed al 0.394%. the result of which is that the School is out of the money due lo the
HSBC base rale of 0.01% and a liability for this commitrnent is held on the balance sheet as at the year
end at a fair value of £147.123 {2020.. £140.7331. The change in fair value in the year was £12.9841
12020.. £nil} and the balance in the year was cash settled movement in the fair value adjustment in other
gains and losses on the Statement of Financial Activities.
28

RYDe SCHOOL
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31ST AUGUST 2021
15. Analysis of Charltable Funds
Balance at
1st Septsmber
2020
Ntrt Transf•rs
Balane• at
Inc¢xnlng Resoweès
108s 1
bgtwn 31$t August
expènded investments
2021
and other gains
Unrestrlcted lunds
Oesignated funds
Educattonal Development
Fund {EDFI
General funds
3,892,335
I1,￿.428
134.695
9,327,764
(8.548)
19.050.859)
357.320
16.916
1112,859)
4.262,943
112,859 12.313,108
Totsl un￿¥1￿¢t?d fvrKts
15.798.763
9.462.459
19,059,40n
374.236
16,576,051
Restricted lunds
Creasey and Blo￿ Fund
Ryde Bursary Fund
Theatre Fund
{10.236)
101.708
110.238)
85,829
71,500
{18,W)
71.5
Total r•strlct•d funds
91,472
74,5
{18.969)
147.093
Total funds
15,89).235
9.537,049
19.078.376)
374236
16.723.144
15. Analysis of Charitable Funds {contlnued)
Analysis of Charitable Funds- prior year
8alan¢o at
tst September
2019
Net Transfers
Balance at
bètweèn 31st August
funds
2020
Inwming Resoure
investmenis
and other gains
Unrestrietod fundg
rjesignated funds
Educational Oe¥elowent
Fund IEDFI
General funds
4,258,167
12.131.712
122.630
8.537.594
19.289)
18,868.046)
1330.173)
143,832)
1149.000) 3,892.335
149.(KJO 11.9(￿.428
Total unwtrICt￿ funds
16.389.879
8,660.224
18,877,335)
1374.C#J5)
15,798.763
Restrlcled funds
Creasey and Brown Fund
Ryde Bursary Fund
5,438
93.1
{15.674)
110,236)
101.708
8,552
Total restrtct•d lunds
98.594
8.552
115.674)
91.472
Totsl funds
16.488.473
8,668.776
18.893.CWJ9)
1374.(Q5)
15,890.235
The EDF includes the School's free reserves {see Report of the Govemors) set aside by the Govemors to
provide funding for grants and awards and where appropriate to provide finance for building development.
The fund investrnents are managed professionally.
Transfer between Funds
A contribution is made every year towards scholarship and burnarie$ from the EDF to the general fund. In
2021 this arnounled to £112,85912020.' £149.0001.
29

RYDE SCHOOL
NOTES TO THE ACCOUNTS Icontlnu•d)
FOR THE YEAR ENDED 31ST AUGUST 2021
16. Analysis of Net Assets between Funds
G•neral
Fund¥
Development
Fund
R￿trIcted
Fund¥
T¢)tsl
Tangible fixed assets
Investrnenls
Cash at bank and in hand
Other net current (liabilities)
Credrtors > 1 year
21.383.593
21,383.593
3,642.067
888,854
12.980,472)
16.210,898)
3.641.967
614,276
6.700
206,245
12,987.172)
16.210.898)
68,333
12.391,868
4,262.943
68,333 16,723.144
17. Contlngent Liabilities and Capital Commitments
Capital commrtments arnounled to £1.582.266 12020_. £3,686.1771 at 31st August 2021_ The School had not
authorised or contracted for any other acquisitions at that date. There were no contingent liabilities as al 31
August 2021.
18. Teaching Slaff Pension Fund
During the year the School participated in the Teachers. penS￿n Scheme {England and wa￿S) I'the TPS'I
for ils teaching staff. The pension charge for the year includes contn'butsons payable to the TPS of £775.786
12020.. £820,744) and at the year*nd £65.893 12020 - £75.924) was accrued in respect of contributions to
this scheme.
The TPS is an unfvnded multi-employer defined beneffts pension xheme govemed by The Teachers.
Pensions Regulations 2020 las amended) and The Teachers, penS￿n Scheme Regulations 2014 las
amended}. Members contribute on a 'pay as you go. basis with contributions from members and the
employer being credited to the Exchequer. Rebrement and other pensKJn benefits are paid by public fund$
provided by Parfiament.
The employer ¢ontribution rate 1$ set by the Secretary of St* following scheme valuations undertaken by the
Govemmenl Actuary's Department. The most ￿Cent actuarial valuation of the TPS was prepared as al 31
March 2016 and the valualion reporL which ￿as published in March 2019. confirmed that the employgr
contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are
also required lo pay a scheme administration of 0.08% giving a total employer contribution rate of
23.68%.
The 31 March 2016 Valuation ReF<Irt was prepared in accordance with the benefits set out in the scheme
regulations and under the approach sFecified in Ihe Directions. as they applied al 5 March 2019. However,
the assumptsons were considered and set by the Department for Education prior to the ruling in the
'McCloudlSargeant case.. This case has required the courts lo consider cases regarding the implementation
of the 2015 refoms to Public Service PenS￿)nS including the Teachers. Pensions.
On 27 June 2019 the Supreme Court den*d the govemment pemiission to appeal the Court of Appeal's
judgment that transitional provision5 introduced lo the refomied pension schemes in 2015 gave rise to
unlawful age discriminabon. The govemment is respe¢b"ng the Courys decision and has said it will engage
fully with the Employment Tribunal as well as employer and member representatives to agree how the
discriminations will be remedied. A consutstion was launched by the Govemment ￿ 16 July 2020, and
closed to responses on 11 October 2020.
The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen
changes in scheme costs. The Chief Secrelary to the Treasury, having in 2018 announced that there would
be a review of this ¢ost ¢ap mechanism. in January 2019 announced a pause to the cost cap mechanism
following the Court of Appeai's ruling in the Mccloudlsargeanl case and untsl there is certainty about the
30

RYDE SCHOOL
NOTES TO THE ACCOUNTS Icontlnued)
FOR THE YEAR ENDED 31ST AUGUST 2021
value of PenS￿nS to employees from Aw"1 2015 onwards. The pause vms lifted in July 2020 and the
Government is preparing to complete the cost control element of the 2016 valuations, which is expected to be
completed in 2021.
In view of the above rulings and decis￿n$ trÈe a$sumptions used in the 31 March 2016 Actuarial Valuation
rnay become inappropriate. In this scenario. a valuation prepared in accordance with the revised benefits and
suitably revised assumpts"on$ would yield different results than ihose contained in the Actuarial Valuation.
Until a remedy to the dlxrimlnat￿n condusion has been determined by the Employment Tribunal it is not
possible to conclude on any financial impact or future changes to the contribution rates of the TPS.
Accordingly, no provisKin for any addrtional past benefft pension costs is included in these financial
statements.
During the year, the School agreed wrth all teachers who are members of TPS that the School will cease its
participation in TPS as of 31 August 2022 and il has agreed Ihat it will run. and make contributions to. a
defined contribution scheme administered by the Aviva Pension Twst for Independent Schools I'APTIS").
Certain teachers opted to join APTIS during the year during which the School made contributions of £13,572.
12020.. nil)
The School also runs a scheme for its non-leaching staff. which is a defined contribulh)ns scheme. The cost
for the year represents the sch￿I.s contributions to that scheme of £88.44812020.' £82.2461.
19 Commitment under operating l•as•s
As at 31 August 2021 the chanty had minimum lease payments under non<ancellable operating leases as
set out below.
2021
Fumllure.
equipment
and
machinery
2021
Motor
Vehicles
2020
Furniture.
equipfflenl
and
machinery
2020
Motor
Vehicles
Operating leases which
expire..
Within one year
In ￿ to five years
31.894
36.708
28.450
45,680
31.894
68.602
18,421
25,500
68.602
74.130
100,4
43,921
31

RYDE SCHOOL
NOTES TO THE ACCOUNTS {continuedl
FOR THE YEAR ENDED 31ST AUGUST 2021
20. Reconclllatlon of Not Movement in Fund$ to Ngt Cash Inflow from OpeTalion$
2021
2020
Net movement in fvnds
832.909
1598,1371
Depreciation charges
(Gains)Ilosses on investments
(GainsyLoss on interest rale swap
Dividends. interest and rents from investments
IlncreasellDe¢rease in stock
Increase in debtors
Increase in creditors
682,736
{357,3211
(12.7551
134,695
11,1981
{67.9861
613.618
680,230
330,173
140,773
126,605
1,043
1138,7661
196,367
Net ¢a5h provided by operating acliwties
1,824.698
738,288
An¥ly$is of ¢a$h and ¢ash equivalents
2021
2020
Cash at bank and in hand
Cash held a5 part of investment portfdio
274,578
270,180
492,299
756,892
Total cash and cash equivalents
544.758
1.249,191
21. Reconclllation of Net Debt
1 September
2020
Cash
Other non
flows cash changes
rooo
£'ooo
(217,7211
{486.7121
2.873,452
19,7481
3.007
2.156,264
31 August
2021
£'ooo
274,578
270.180
6.634,070
147,123
Cash at bank and in hand
Cash at investment manager
Bank Loans
Interest rate swap- new
Interest rate swap - old
492,299
756,892
3.760,618
153,887
6,591
5.170,287
2,984
3.584
{600)
7.325.951
32

RYDE SCHOOL
NOTES TO THE ACCOUNTS Iconttnued)
FOR THE YEAR ENDED 31ST AUGUST 2021
22. Statement of Financlal Actlvllies for the year ended 31 August 2020
Unrnstrlcled Unvestricted
General
D•signated Restricted
Fund
Funds
Funds
Total
2020
Income from:
Donations
Charitable activities".
Fees retsivable
Other educational in¢ome
Other trading &tivities
Investments
8.307
8.307
8.318,139
2LKJ.596
15.129
3.730
8.318.139
200,596
15,129
126,605
122,630
245
Total income
.537.594
122,630
8.552
8.668.776
Expendlture on:
Raising funds
Charitable activitses
Gross of furlough
9.289
9.289
8.883,720
388.318
8.868.1)46
388.318
15,674
Totsl expgndilure
9.256.364
9.289
15.674
9.281.327
Net (expenditure) before gains
on investments
(718.770)
113.341
17.1221 1612.551)
Other income
388.318
388.318
Net (Ios5esl on investments and
sale of assets
{43.832)
{330.173}
1374.005)
Net (expendlture)
1374.284)
{216.832)
(7.1221 1598.238)
Tran$fer6 between funds
149.OCMI
{149.000)
Net rnovement in funds for the
year
1225.284).
{365.832}
17.1221 1598.238)
Reconciliation of funds:
Total funds brought foThvard
12.131.712
4,258.167
98.594 16.488.473
Total funds carried forward
11.9Cffj.428
3,892.335
91,472 15,890,235
33