2022-08-31-accounts

Charity Registration No: 307409 Company Regi$tratlon No: 432077 RYDE SCHOOL WITH UPPER CHINE Annual Report 2022 'AC193QA3* 11104r2023 ¢OMPANIES HOUSE

RYDE SCHOOL coHrEKrs Pag• No. Report of the Governors inciudirwJ the strateg￿ Report 2-13 Report of the Independent AlldTtor 14-16 SLqtement of Fina￿lar Adivities 17 Balance Sheet 18 Statement of cash flows 19 Notes lo the Accounts 20-33

RYDE SCHOOL {Company No: 432077, Charity No. J07409) REPORT OF THE GOVERNORS R•f•rence and administrative details Name: Ryde School Ikrthvn as Ryde School wilh Chine) BOARD OF GOVERNORS {All Govemots are Directors for the purpose ofcompany lawl halrnan: Professor C.C. Lees MB BS 8Sc MD FRCOG Vlce Chairman and Honorary Governor. Dr M.0. Legg Bsc, M.B.B.S. Heredllary Go¥emor. Dr A. ￿lsaaC MA, D.Phil Honorary Governorn: Mis$ Chantsl-Aimee DDeTries Q.C. Mr P.l.J. Weeks Gov•rno¥8: Mrs J.E Bland Cert Ed.. RSA Dip SpLD5 Mr A M. Crawford Mrs M. E$fandiary Mrs D.K. HayThomas BA Hons. Mr P. Hamilton Mrs C. Jacobs RGN Mr A.P. Ramsay Mrs J.L. Wallace•Dutt Mr G.R.S. Whilefield (Ap￿Inted 18th November 20221 Clerk to the Gov•rnor8 and Company Secrelary: Mr J. Marren Bsc., ACA (Resigneil lo￿ July 20221 Mrs S. Webb AMlnstLM l Assoc CIPD (Appointsd 1￿ January 2023} The H•admaster. Mr M.A. Waldron M.A Icantabl. M.Ed (Reggned 31S1 August 20221 Mr W. Turner BA {Hons). PGCE IAppointe¢f 11t September 2022} The 8urnarlFinance Dlrector: Mr J. Marren Bse., ACA IResuned 10th July 2022) Mrs R. Kenne(Jy Bsc (Hons). PGCE. ACMA IAprKJinled 1 October 2022} 8•nk•rs: HSBC. 38. Unton Streel, Ryde. Isfe ofW4hL P033 2LJ AudIt￿. BoO LLP, Arcadia House, marit￿e Walk. Ocean Villa9e. Southampton. S014 3TL Sdki¢or•: The School seeks al advice from several fimis. dependent on the topic. Invo8tmeb# Ad¥l8ors: Cazenove, 12 Moorgale, Londm, EC2R 6DA RogEst•r•d Offie•: Queens Road, Ryde, Isle of Wighc P033 38E

RYDE SCHOOL REPORT OF THE GOVERNORS IConllfiued} The Govemors present thar rewt tO9ether W￿1h the slatemenls for thè year ended 31st August 2022. 1. ObJectlves and actlvilles Chaiitawe Otye¢ts andAlms Ryde School is a charty that seeks to benefit the pubfi¢ by pursuing and delivering its educalional aims detailed below. Its fees are set at a level that ensure financial viabilty and pro¥Kle excelSÈnee in educath)n. The School welcomes pupils from a variety of bxkgrouryls. Unlike many s¢h¢)ols. pupils are not selected on their academic alilrty bul need to demonstrate that they wll fft into the School comrnunty and benefit trom the educatlon on offer. Economic status. ethnicity. race and rdigion are not part of the assessment prO￿S as the School ts an equal opwrtunty organisab'on and encourages a community that 15 free from discrimination attwh the School 18 a Christian foundab'on registered with the Church of ErvJland dbxEse of Portsrnouth as having a particular religious character. The in¢ulcatson of Christian values is imwrtant to the School but it recwises the values of other faith$. The Schcol endeavours to follow best practice as recommended by the Chanty Commission ￿ di￿hargIng its aims and obJ'ectNes to the benefil as far as possible, of the Publ￿ both kxally. nat￿nallY and inlemationally. School Values We ar• an i¥kndschool with a global oullook Our purpose i8 to prOV￿eW¢dd-¢1ass ed￿ation on the Isle of Wshl, enabling our boarding and day pupils to flourish in MIND, 80DY and SOUL. We will nurbJre the CHARACTER, SKILLS and VPLUES to help them make a positive difference and embrace the oppJrtunit]"es of the wder world. WE BELIEVE alJaole Iifc C4 I S - opw.unilies fcr grokvt balaKE cyn¢ulvr) kixxy ai a Iiftrkn9 lTreGf aTry ¥aba." Oi>lh¥:ICn> fLw5h Posilwe ed￿c3t￿n rnprove5 ouf%•ell- our 5cwI ConYA￿lty to th¥￿e

RYDE SCHOOL REPORT OF THE GOVERNORS (Contlnued) As an 18 Sthool wg wantourpupms to become." Batsnced Caring CommunKators Courageous Creative Inquirers Knowledgeable Open-minded Principled Reflecti Risk takers Self4isciF4ined Thinkers A$ a Round Squarn Candidate School w• Wi•h• in and encournppuplls to engag• with.. IniernalK>nalisrn Democracy Environmentslism Adventure Leadership SeTh As a PSB School we encoutage ourpuplls.. To learn to I&￿. lo wofk as a team ond io opefale independenvy". To be ￿fleet￿e, seein9 all leaming as a chance lo review and improve: To take every opp)rtunity to develop their communicakn skills. Monltorlng The School assesse5 its SU￿ in delNering ils Ydlues Ilywgh the woth ofthe BLwrd sulhcommittees who monitor the delwery of those aims. The criteria and outcomes are referred to in more ¢Jetsil throughout this report. The School's current Strategic Plan available on the website ￿V.rydesChoD1.0ry.Uk. 15 monitored by the Finance and General Purposes Committee. Publ1¢ 8enelft The govemors confim that they have due regard to the guidance on Pubk Benefit published by Ihe Charily Commission in exercising theFr power8nd dutres. The Board otGo¥ernor5 is CO￿￿￿ed to meeiing ils responsibilities with regard to the provision of benefft to wider public. 2. Structure. Governance and Management The School is commitled to maintainry the h￿h standards of Govemance re¢ogThsed in recent School inspections. 21 Governlng Lkn¢ument The Sehod is governed by its Memorandum and A￿cleS of AssocbatThi Supplen￿led as necessary bs1 bye4aws detem)ified by the Board of Governors. The company ￿ a ehanty limited ty guarantee incorporated on 28th March 1947 and registered as a charity i)n 4th March 1964. its activities being the provisiw of educatK)n to l)oys and girts of all ages as weu as the eonlinuèd

RYDE SCHOOL REPORT OF ThE GOVERNORS (Contlnued) development of the School as an edLtstional resource of high oualty on the Isle of Wight. Its Registeroj Charity Number is 307409. The School is a company limried by the guarantee of its rnemtrs. 2.2 Re¢wilmontand fralnlng of Govwno Govemors are dected by the Board for a term of fow years. can be extended for a further four years and in Ihe caseofthe Chairman, fora maximum temi often yeats. Tthu Govemors rnay be nominaled by the Old Rydeians, Association and one by the Upper Chine Girls. Association. The current Go¥eming t¢4 represents the mernt￿￿ of the company. The 8Dard selects new iwrd membefs on the basis of their personal competen￿. speciali8t S￿11S and avaikbilty. Govemors are indLKted ty the Sthool'$ Clark and Headrnaster and Pr￿Ided wrth ¢¥)i•s of govwning documents. bye-laws and external charitsble guidelines pertinent t)th to indeFendent schools and thaiitses a5 well a5 all the ne¢essary stalulory and regulatory ￿MplianCe checks. AJI Govemors a￿ encouraged to attend courses run by AGBIS and the Board's own wuLar in-hJuse trainirKJ sessons on Ferbnent matters and pdicies. The Board appraise$ its eftecbveness every year. 23 Organlsatlonal Management The Govemors detennine, with the Head Master. the general strategy. ams and ethos of the School. The day-t day rnanagemenl ofthe School is delegated to the Head Master, Deputy Haads and Heads ofseth.on together swth the Finance Director and Estsle & OperatK¥ns Director. The Board operates through two main cL¥nmittees. There is a Finance General Purposes Committee, chaired by Mrs HatyJ-Thoma$ approves and mnrtors budgets. revieYS tl)e annual audited accounls and the School's tangible asset resour￿. The Education Committee, chaired by Mrs Bland (replaced by Mr Hamilton from September 20221 reviews educabonal and pastoral i￿ve$ in conjunc1￿ with senior te¥hing stsff. Both committees meet each term prior to the fvll Board. The Board is atso adwsed by a RwnunfjratK)n Committeè, chaired by Mr Crawhord. which delerrnines Senior salaries. The GovemcKs and Senior Leadetship Group have strategi"•￿Y days" on major issues lo supplement scheduled Board meeb'ngs. The Board has a Governan￿ Ccnmittee. thaired by Dr Legg. detemiines the thILs the Board n$èds to funckn"¢n effectNety and advises (( on succession planning. Mr Weeks represents the Guvernors on the Health and Safety Committee and Mrs Jacobs is the ￿ad Govemor for Satsguarding. The Board meets every temi and on other (ttasions as required" the Education Committee meets three times year,. the Finance and General Purposes Committee m*ts three tir￿5 a year. the Strategy Group meets as necgssary and the Rernunerab￿ Commrttee meets iww a year. The Remuneration Committee in conjurtts.on wrth the Head Master and Finance Director considers the approprrate level of pay for the senior management team. It atso rectsnmends lo the 8oard both the Head Master and Finance Directorfs remuneration. In recommending and assesgng these ￿e15 of remuneration Ihe Remuneration Committee uses national statist.cs as benthnarks. There are no speciftc related parties except for Ihe parent body. with whDm the School consutts on a reguLir l)asis. It is cognisant with both AG81S and HMC communicat￿nS used to infomi, educate and improve governance. 3. Strategic Report 3.1 S¢rntegic Obieclives To delivef Ils staled charitable aims and obieGtT¥es. the Sch¢>31 is commiited to delrvering an ex¢ellent all-round education. By maintsining hp3h stsndaFds of aCadern￿ perfomance. pastoral care and citi.zenship antj ensuring pupiL8' abilitie5 are deveknped to th￿r fithl wtential.

RYDE SCHOOL REPORT OF THE GOVERNORS (Continued) The Governors, in fulfilling th￿r ctrhryritable oblrgalion& tre mindful of need fN the School to be accessible to the k¢al community by offering a broad uJfficuthJm while increasing bursarial supFxxL 12 B8nèfits tt the Ct>mmunlty The School aims to prowde benefrts to its coffffiunty in three ways. Firs( the Sch￿[ provides fin￿¥1 assistsn lo families woukl not olherwise be able lo afford the sch(￿1 fees. The level of this supportvaries from a ￿latiVe￿ small amount, 10% 01 20% 01 the fees, lo a 1C(I% t￿l58ry in limited c1rcurnstsr￿$. Support is offe￿d mostly to pupils who live on the Isle of Wight. bul some pupils. Induding a nUM￿r ftom Ukraine. bènefit from a boarding butsory and the School works wrth Ihe tho1 authority arKI natK>nal charities to enable bjarding for some vulnerable chldren who can so benefit. Whilst arovnd a third of our boardets come from the UK, the majority are overseas St￿1¢nts and the School benefits consderabty from the cultural diversty and different wortd ￿eW that they bring to the School and indeed to the Island community. Secondly. the SclvJol aims lo support the lotsl cornmunily through forging educational links with stsie schools and by sharing f￿lIrtieS. Thirdly. the School aims lo support local and overseas chaniies either by offerirwj t￿ use of tscililw or directty by fundrabsing. Headllne figur•s for theyearlo 31 August2022 Amount of money raised for UK charib"es'. £15.$60 Contribution to UK GOP.. É16.9 millKJn Contribution to the Isle ol Wight ec￿orn￿. £9.9 milion Totsl amount of UK tax supported by Ryde School's act1vit￿5.. £5.1 million Total savings for UK lax payer as a resull ol pupiLs attending who woukl othewse attend stale sdwls.. £4.7 million Total number of UK jobs supported by the school's actiwty: 382 Number of pupils receNing means tested I￿r$arial assislance.. 49 Amount ol money spent on bursarial support to pupils last year. £740,588 Totsl number of Volunt￿ houTS Ihal students pul back into the communty through ¥o￿TrIarY activity such as Duke of Edinburgh = over 2,200 BuMart•4 S¢hol•rships The Schijol advertises Scholarships and Bvrsartes in its PTcxnob"onal Illwaiu￿ (Current Infomiation), its website and in the local pres5. Examinations and interwews for SdK4arships and Bursaries take Pla￿ in November anJ February. Places arè availabl8 forentry into Yearn 5, 7, 9 and 12. The uiteria to receive a scholarship are significant achiewernent and potential &ther academully or in one or more of several extra<urricular areas. Scholarships Can be aCadeffl￿, sport. Mus￿, sailing or arts (allowing for success in. for example. Drama. DT or Artl and those in receipt of one are expected lo be￿fft fr￿ an educabon al Ryde School. generally but also in nurturing their particular talent. and make a positive (X￿tri￿on to schcwj lrfe. The scho￿ has the same expeclations of its lee paying pupils_ Those in receipt of a Scholarship wiTr automalully gel support to devekip the a￿8 ofskill of the award- for example, music scholars are supported with complirnentary indiwdual tuition. In additi'on, all those awafded scholarships become eligible fee assi51ance. The level of fee assistsnce is detemiined aftgr an assessment of parents, {or guardians'l ability to pay the fees,. asgstsnce Can be as high as 100% and CKcas￿a1IY grants are made to assist wilh schwl tTiPS or uniform. Assisted Places are offered to some boarders, who are also assessed as to the level of support th81 is required. Usually. one or two pupils a year ar8 nominated through the Head Masters, and Headmistresses, Conference IHMCI Easlem European Scholars Programme, whth carries out its own assessrnenl of parental means. Some Eastem European Schc4ars receiv8 a 100% bursary. others are able to pay about a third of the fees. The total value of Means lesled bursaries amounts to £741k or 6.5% of gross fee income. Approximalety 6.4% of f4Jpils receive such support_ Funding for bLtrsaries comes trom three sources. The Sehoc4 uses the rentsl ineomg it receives frorn th9 lelbng of Ihe Bernbi￿e Boarding Campus, inveslrnenl In￿rne from the E¢ucalional Oevelopmenl Fund (these tsvosources fvnded approximately 50% ofmeans lesle(J bursariesl.. the remainder comirbg from the surplus tjenved ffom fep incryne. It is a k)n9-tem) strategtc aim of the School lo increase fvrther the of its Educab"onal Development Fund in order to provmje further means tested bursarial assistance. The Stht)ol conts.nues to assist some pup￿$ already in attendance, when parental Circumstsnces Ghange. Such help is given after means tesbng." rt ts the Schcol's ￿sh to see such pupils conwele th9 appropriate stsge of their education.

RYDE SCHOOL REPORT OF THE GOVERNORS (Contlnu•d> In budgeting lor its awards, the attempts to slrike a bakrKe betrween the w of ils rental ano investment income. and fee income, reccgnising that many parents have already made significant sacrifices to fund the •du¢alion of their own children. Indeed, maintsining fees at a refaknvely low figure by independent school standards allows greater access by a wider rnrBJe ol bxal families than is someb.mes the Case elsewhere and is a consaous consideration of school management and govemors. To foster bursarial support further the Govemors have estsblished a restricted fund--Ryde Bufsary Fund- to which p3rents and stsff donate. In addition, in order lo assist futher cildren whose parents might not otherwise able to afford lo ehoose it, thè Schod losteTS its relats"onship th other 9rant making and partA)ates in the G0Vemn￿rts Nursery v￿cher Scheme. The School has offe￿d parb"cular aSsiStsn￿ lo chitdren who would benefit from boarding due to their personal or family circumstsnces and has worked wlh the local authority and natK)nal charities to trjenbfy and plxe ohildren in care or those who would otherise not be able to access a boarding ￿h0o1 education. Puplls, voluntary wo Pupils and staff are encouraged to folkjw the Sthool's motto of Ut Prosim •KI live a life of seThice. Many are involved directly and indirectly in fundraising. actsve ¢ommunty service and local engagement. The School ha5 recently joined the R¢JurKI Square Organisatb)n which expects of. and provides opportynilies for. its member schools engagement with Voluntary acts'vty. There are acb.ve groups such as the'Green People, in the Senior School and ecology groups in the p￿Prep School who engage in environméntal actMM. Many of our pupils in Y&8r 10 take part in the Bronze Duke of Edinburgh Awar(l - last year 44 pupils (lid al least 12 hours of voluntsry work each. That is around 528 hours volunteering in the commtbnity. Some pupils continue doing the Silver Duke of Edinburgh Award in Year 11_ Last year 17 pupils dkd at lèast 24 hours of voluntary work each. Thal is in excess of 408 houts of yduntary work in total. Addthonally. last year 27 pupils took part in the Gold Duke of Edinburgh Award across the Sixth Fonn. This i￿luded at least 48 hou￿ of voluntary work each, meaning at least 1296 I￿r5 in total of vduntary wo This year our aspiring medics gained important experience workirvJ with people and Organisat￿n5 in the local community, including long lemi Volunteefing at Abbey F1 residential home and at thè Ènd of life ward in St Mary's, helping with Ihe Alzheimerfs Cafe at Ail Saints Church. and volunteer netball coaching for ¢hildren under 12 with Sh)rwell Netball Club. The introduction ol the CAS (Creabve Acb¥e SeThicel afternoon to our curriculurn ￿ September 2021 promded further opportunities fc ￿r pupits from Year 7- Lower Sixth to get invofved in proie¢ts in the local eommunity. We have a group that visits a care horne each %￿ek to provide company and conversation for the residents and another group assists the Wikjheart Sanctuary wth consefvation projects. We also offer sports coaching to a local primary school as part of the CAS aftemoon. wrth our Lower Sixth and Year 11 o)aching under the supervision of our staff. Year 7-9 have partieipated in voluntsry work through working with Aspire. a lo￿1 ¢ommunity centre, arranging a tea paty al Millfield with care home resitlents antj working with Brading Roman Villa on an on-going conservation project Our gardenir¥J group also continued wrth conservatton work around the school's perimeter and litter picking in hotspots around Ryde. Recently. we have set up a sewing and knitts.ng group who are kniikn'r¥J blankets to be used by patients al St Mary's Hospital. In the Prep School our pupils are enu)uraged lo engage vnlh vduntary work and links have been maintained with Quarr Abbey where puwls have helped lo restore the path as&'st in with harvesbng apple5. The Prep School also supports the Rotary Club shoebox appeal sending gift5 ar￿ essentials to countrie5 such as Moldova and Bosnia. Al Christrnas our ehoirs sing at numerous care homes in the area. The Pre-Piep pupils also created Christmas cards and sent these to resAlenls at care Xomes. The School has close links with a rural schwl in Mako. Ghana and a group of pupils travel there orb a biennial basis lo carry out voluntary work. texhing lesson5 and helping lo Tenovale the sile. the most recent trip to Ghana being in October 2022. The School ad￿￿onallY cafws Out wular fundraising in support of Mako School. The Arts The School's musr ensembles gtve freety of their time to play al local venues. The swing band has played in church concerts and the Choristers sang at the official OFening sery¢e of the Law Courts. Pre-Pr&p and Prep School Music 9roup5 play at local Care homes for the elderfy at Christmas time and the Pre-Prep carol singers sing at the Alzheimer Sooety Café in Al Saints. Church hall at Chrthas time. The bcal community is usually invited to school events such as carol serviwJ. and schc)I n￿SIcal and drama production

RYDE SCHOOL REPORT OF THE GOVERNORS (Contlnu•dl A number ol Community ar11st￿ groups use the ￿￿)1'S fac))rt￿ on a regular basis.. a ukulele group, local ballroorn dance group, Curtain Cdl theatre group and Domtx are among those who in norrnal limes make regular use of thè sehool's facilities, whibl the Isle of Wi9ht Symphony Orchestra use the Sch￿l.S facililies and equipment to ￿hearse in the nJn up to COtKerts. The school's music ensembks are open to talented pupils from local state schools and members of Ryde Scheol's music department are heavily involved in promotiro musr on the lslaftd. br￿￿dIng contrbwing to Ihe low Symphony Orchestra, IW Cantata Choir and The Island Concert Band Over the last few years we have also Spor￿red Ihe Children's Art Competition al Monkton Arts Café. Scl•nc•. Tochnology. Englne•rfryand Alath•naUes fsTEM-J In recent year5 the School ha5 worked in partnership with a local Aeademy whith has been unable lo provide A- levels in certain STEM svbjects. We have given these students a￿esS to our A4evel science and maths lessons at no cost and Ihey have benefited greauy from the ￿&￿nS and the sut)Ject experts'se of le4chers. Our Head of Physics is also the STEM Teacher Coordinator for the Isle of Wpjhl offering advice to other schools on the delivery of STEM activits and J85sons. The JunM)r School hosts an annual all-lsland maths thallenge forchiklren in Years 4 and 5. Eath year 8 children from around 20 primary scaKds altend the e¥en( Circa 160 pupils in total. The School njns an annual DeS￿n Technology club which supports the Isle of Wight Club for Deaf Children. Transport assistance is also offered lo Ryde Academy siudents so that they can attend the Engineering Edu¢alion Scheme events both on the island and on the mainland. Oth•rAcatY•mlc In addition to STEM and Ihe arts., the School runs a number of other aeJem￿ initiatives whth b8nefil the wider community. The sch¢xsl runs an annual Island-wvJe 9eogTaphy quiz for pupils in Year 9-10 although this had lo be postponed for the last tsvo years due lo the COVID-19 pandemt il is planned to fec¢xnmence in 2023. The school also runs a M¢xlel United Nations event ft)r ktal island stste schools. The School now has an established mo¢k-Oxbridge and Medical univers￿ inteT¥iew Preparat￿ evening. with over 40 pvpils attending virtually and over 30 parents and friends of the School acting as interviewers in their area of expertise this year. Puwls from al over the Island are invited and some of whom have gona on to gain pl￿S ot Oxbridge. The weekly Fiveways playgroup'chrtter Ch&lef also aUM families to access use of the Nwsery facilits.es as %%ell as tea and coffee and story & MUSK time a ffEmlKr of the Fiveways team. Many of Ihe School's sports specialis1$ work with Ihe wKJer cornmunty. Tr Dffector of Sport & Head of Rugby coaches regularty al London Irish Academy and Harnpshire RFU. the Head of cricket coathes w(Ih England S¢uth-Wesl (Bunburyl group and leads wxhing on the I￿¢ ol WighL whiisl a ftjrther PE teacher assists with e(Jaching18land crickel and Hockey. The School runs a number of communty sp(wts inibatNes using their fa¢ilits"es. Recently these have induded a v?riely of sporttoumaments foi local prirnary schcols. including tag rugby. football. netball and indoor Olympi￿. Wrthin our Ccynmunty and Service ICASI sessions we have linked up wlh Dove( Park primary schwr to offer sport o)aching from our young Wers Hi Yèar 11 and Sith Fom). A number 01 ¢ommunity Island sports ctubs have regul* us&J the Schod's knlities in the W ac8demt ye8r. these include Veclis Rugby Club. Shofftll Netball Club, IOW Hockey Club. Ryde Lawn Tennis Club, IOW Cricket Club. and vect￿ Youth Football Club.

RYDE SCHOOL REPORT OF THE GOVERNORS IContlnu•d) OLtr Sp)rts and Safiing Stholarships enabk tslented Island athtetes to 8ttss educalion al the School whatever their financial ctrcumstancts and to deveknp their tslents further. This has been instnjmentsl in helping some of Ihe Island's most talenled athletes to develop LK)th academ￿lY in their sporl The Isle of Wght Crtket Board partnered up with the school a f•¥ years ago. In this short wiod of time Cricket on the Island has seen a substantial increase in the number of young cricketers (boy5 and girfsl playing on and for the Isle of Wight County Age groups. The School s u1 as their train￿ base wrth acce5S to a Merlin and 2X Bola b0￿ing mxhines in the 4 net lanes the SFQrt5 Hall along with the new Gym knlty forthe strength and conditioning training. The sthool also allows the IOW uidtet toard to use its minibuses for away fixtures. Otherfacllltles id• from the SFats and arts uses thnbfièd above, Ihe ￿'7￿"e$ at the School have been used by members of the Isle of Wi9ht History Society. The Sclh)ol pays directly for the I￿knt which illuminates the North of All Saints, thurch as NhEII as donatin9 annually to the church for Ihe use of facilities lo hokl service5 and assemblies. Ryde School runs a Summer School. which womdes 0pw)rtUn￿es for bcal chiklren during the holidays lo pa￿.¢1Pate in a wide range of activtbes. also enhancing cultural eXperien￿S as they attend alongside overseas residential Summer School students. A numbw of Ryde School pupils volunteered thèir al thé summér >S)ool to run acliviltes in drama. sports ar#1 STEM. Ryde School pwvides teacher training plments through Southampton Universty and Christ the King School. This usually sees a number of trainees placed at Ihe school each year and most of these relum lo the state sector as newly qualffied teachers. Our Marketing & External Reklions Cl)￿dinatOr B currenly a bwor at a local primary sclml.. Our Head of markets.ng was on the Royal Ocean Race Club commrttee and was a Cowes HaTbour CommissiDner and our Deputy Head IPa5toral) is the VKe Chair of Ihe Local Saleguarding Child￿n Board Educati)nal sub-group wh meets half-termly to discuss ackn.on plans. audits and strategtes. Our Assistsnt Head {Acadernicl is a guèst lecturér at Southampton UnNersity. One ofthe Scknfs history teache￿ ¥oluntews as a governor al a mainland sGhool. Charftable fund-ralslng The school raises a lafge amount of money exh year for UK charitie5. Last year this totslled £15.560_ The main ipients of this were the schools nominated charibes.. Ghanalink." Red Nose Day". Child￿n in Need- Cancer Youth Trust.. Unicef (Ukraine ApFeal)", IW Foc#Jbank." Cross: Earl Mountbatten Hospti; Kissy Puppy and St Marls Hospital Speual Care Baby Unrt. In addiknon to money raised formalty through schojl fvndrai5ing. a number of our pupils have carried out their ¢)wn fvndraising iniliab.ves whth have supported by Ihe sclKX)]. 3.3 P•rfomianc• and Delivery oKChantabl• Objo School Ilumbw5 At the start of the academic year 2021r22. ts School had 794 pupils, 570 in the Senlor School. 142 in the Junior School. 82 tn Fiveways. The$8 numbers indude 54 boards. Acodemi¢ anoT Edu¢atlonal Expori•nc• After years of alternalNe assessment and grading systems as a result of the Cov*J-19 pandemt, the 2021-2022 Year 11 and U6 cohorts We￿ the first lo relum to relab.vely 'nGmal' examinab"ons. Athough some atterations were put in place by OfquaVexaminats"on boards to mibgate the swnrftanl impact of tre pandemic nationally, in terms of ontenl andlor assessment there wa5 significant vaiiabon between subjects, with some subjects being enbrety unchanged and others having topics 01 sections of the course removed from the examinats¢nlsl. However, students who were al Ryde throughout their GCSE or Sth Fomi Cou￿•$. or loTrJer. were in a 5tfonger posrtion than many

RYDE SCHOOL REPORT OF ThE GOVERNORS {Coniinuedl of their F4efS natP3nally-. despile unavoidable disruption, includin9 hi9her ￿e[S of illnes5 in Year 11, in paiticular. than in regular years. Ryde siudents. educabon was sts"Il considerably less dtsrupled than we saw in the broader nattonal picture, nol least due to the success of Virtually Ryde. Nevertheless. there SMI no doubt that the examinab.ens and the preparalw)n fff them were much more challenging. for both the Yoar 11 and U6 Cohorts this year than perhaps ever tef0￿. While we can be cOnf￿ent that we seNed OUT Students very well indeed, the nature and scale of Ihe pandemic. unwe¢edented in modem b'mes. has inevi18bly meant that no schwl has been able lo Com￿etelY sh￿Id its stvdents frcffl the well-documented and ongoing r8nge of impacts on youn9 people. 11 is worth remembering that the Year 11 colyt was in Year 9 when the pandomK Wan in earfy 2020. Meanwhile. this year's U6 was the 2020 GCSE t>)hort whose final examinabons were Summarily can￿lled, meaning they went inlo A Level and IB examinalh?ns Summer without hawng experienced thè usual academic and psychological 'rile of passage. Ihat GCSES often rwesenl. The Tesuts achieved were excelnt at levels. At GCSE the performance ol lh￿ years Year 11 cohort was partreulady stroftg overall al the top ol Ihe grade range, with 26.6% of all graejes at 9 or 8 (the equNal8nt to the dd A"). which represents the best results in Ihe School's history al this top level. Furtherrnre, an unp￿SSNe 43.4% of grades achieved were al 9 to 7 with 91% of grades al 9 to 4 and there were some excdlenl indivi(Sual &hEvements loo. with one sludenl achieving a full set of grade 95. another achiewng nine gRde 9s and cfje grade 7. and four other stLKlents aehieving grades 8 or 9 in all ol Ih&r subjects. Over a third of pupils achieved five or m(Ye GCSES at grade 7 or hty and 61.6% of pupils xhieved five or more GCSES al gr4de 6 or hi9her. At Post 16 the School continues to run suc￿$￿Ity three dtstrr￿t academic r(MJtes thrwh the 6th fomi 10 alknw us lo catèr to the diverse èbilities and aspiraliDns of cMJr student body. The combined A Levèj and IB results prodLKed an aveiage UCAS points per Pu￿1 score 01146.7. In the IBOP our average points per pupil was 37_3, Ihe same as last year albeit with a larger cohort 0112 {Tather than 31," ￿ of the 12 achieved 43 and the lowest score being 27. AtA Level. 17.5% of grades were atA" and 45.5% at A'IA". there We￿ several indi¥KJually impressive perfomanees worthy of note whilst a18TEC 40% of students gol the top grade of D'D" including every one of the 8usiness candidates for the second year running. The vast majority ¥￿nI lo their first Choi￿ ol university bul we also saw S￿dents leaving fordegree apprenti¢eships, GAP years and a signifi¢ant numberfoi careers in the Servi￿$, fulfilling trom the start the values of the School motto. Ut Prosrm. In the Junior School and Years 7 & 8 value aL￿d is measured ugng ￿SuIts from assessments in EThJlish and Mathemat￿$ and biannual tests in CognitNe Ability. In both subjects. results are above national expectations and attainment ￿lative lo akn.lity 15 also posits"ve. The Prep secti)n (years 341 compfeted the fitsl year of their svjnrficantly revised 'Discovery' curriculum which ent￿S MO￿ on enquiry based leaming Style togeiher with the use of Chromebooks. Pupil engagement had been very high with go)d feedback from pa￿ntS about their leaming experience. Two than9es from September will be for the Science lo come out of the allocated Discovery time and run as 3 STEM lesson5 a week. This will be taught by a subject spe¢iali5t wilh the aim of improving science provisi1￿ ano making lull use of the available resources. Tre School was inspected by ISI in May 2022. The"Educational Qualit￿ secbon of this le￿rtIo¢uses on broad a￿a5." pupiLs' academic and other aCh￿vernents. and the qualty Of pupils. personal development. The inspection findings graded the first part as'excdlenf - the top rating- and the second section as'good. The report is published in full on the School website. The School continues to develop the R￿nd Square IDEALS as cTrhosts wrth three other independent schools ol the 2022 Round Square International Conference. This meMbe￿hlp, together with IAPS. HMC. PSB and18 provide for excellent peer eNJa9emenl and infornial professional devek)pmenL 3.4 Llnks wlthpar8nts The Sehool provides good links wth pa￿nts.. they are welcome lo attend many School events induding supporting sports matches, concerts, prays and priz￿1vIr￿ events. There are frequent parents, evenings held both virtualty and in-person and regular reports. Further Contact LS pfovKled through Parents Liaison Forums wh￿h meet termly and one open meeting per year. 10

RYDE SCHOOL REPORT OF THE GOVERNORS (Conlknued) The Sch¢)21 runs the Ryde Connectyon to rnainlain links with and amongst ujrrent and fofrnerfriends and pupils from Ryde, Upper Chine and Bembridge schools. The S¢fic￿l tss a parental Ixjrtal giving pa￿nts direct access to infom7ats.on about their child and this was srgnftantly impfoved in 2021. Parents get a handbook annually and can ¢ontact statt directty via phonè or email. The SthD)I has also conbnued to njn parent seminats lo work with parents on key issues where home and school I￿perat￿n matters. Seminars have included sessions on revision. coaching, body image and social media. A s￿.￿C congjllats.on was uTh1ertaken on the intrOd￿lon ofthe new RSE curriculum. A weekly newsletter is publish&J lo keep parents abreast of the main activrties taking place in the school with dedicated seCt￿n$ for each part of the School. The SeP￿lI has ntn an annual survey for parenrs, staff and pupils to assess prcgress and Identify areas for devebpment and 1$ now able to chart trends in concems. 3.5 Financffal Review andRosults forthe Yth The overall surplus before gain￿(los$es> on nveslments for the year was of £1,466k12021'. surplus £45gkl. The increase in profitability was due to growth in pupil numbers. annual fee increases. donations lor the t>)nslruclion of the Jenny Kerry Performing kn Centre totalling £79)k in the yearand c£300km redassrfied from other incr)me. As anlicipaled in Ihe annual report and ac¢ounts last year. ihe School has remained in operab.ng surplus aTrJ expects this lo Continue 9iven the litting of all COVKI ￿StrICt￿)n5 in the UK and 9ro4¥th in pupil numbers. Based on these forecasts and the ability to call upon funts held wilhin the EDF fund. Gownors believe the School wll be able to conts.nue lo operate wthin its existing facihb.es for the foreseeab￿ future. Fee increases are d￿late{l by the School's twdge( which ts In￿need by increases in teaching salars and Inflatkin as well as wider influences such as the COVID-19 pandemlc. The School educational surplus includés £133.746 from the EOF lund twards ts l>ursarial awards; this contribut)n is eqUNa￿nt to 1.2% offees. This year. the Schcol has completed the rebuild of ils Theatre. named the Jenny Kerry Performing Arts Centre in memry of an Upper Chine old girf. Thisvras fijnded partty by donati￿$ from Mr Tyerman, Jenny's husband. as well as further donats.ons from ￿rrent pupils. families as as alumni aTrJ the wider ￿rnMunty, with the remainder coming frryn surplus funds. 3.6 Investment Perfonnance aftd Policy Duiing the year tho School ceased operatiThJ from Bembridge PA)arding House arHI entered into a long-term lease arrangement with a Ihird party for use of the property. As a result, the 8embrpJge House Pfoperty has been reclassified as an Investment Property asset and is carried al fair value. A ￿valUation gain of £2,750k has been realised in the year lo recognise the drfferen￿ bel￿n the ts"stonc carrying value of the propety arKI its fair value at thè dale of transfer. The School hed unrealised los￿ of £186k 12021.. gain of £374kl from the revaluatth of EDF inveslmenls. Cazenove. the Sch¢)ol's investrnenl managers. operate a mu11￿$Set unrt trusl tharitable fvnd for its Charitable clients. The School tonbnues to mainta"n ts ¢autKxs investment wk¢y. The Governors, investment obJ'ectNe is to opttmise gr￿￿h so that inc>)me from fund in the future can fully fvnd its bursary awaids. The Finance and General Purposes Committee reviews investment performance in depth annually. 3.7 ReseThes and Resource The Sthool has operated a Strategic Financial Plan for several years enablry a forecasl of both surplus and cash fl¢)w to be made over the fore5eeat￿e futu￿. This. ¢ombiAed with its review of risks and tts published Development Plan, enable5 the Governof5 to ¢perate v4ithin Ihe Schty)I's banknprtJ fa¢ilib"es and to provide for ongoing development. The School's unreslricted reserves sland at £21.6rn12021.. £16.6m). The Govemorfs Eonsider that the 8£hO￿ should retsin aPp￿rnatelY 6 months. expenditure in free reserves. The ehantys free reseryes re￿Sent total Un￿stn.¢ted resep4e$ adjusted lor tangible fixed as$9ts. investment property, capital commitments and bank loans, and amunts to £2.Om. This ts principally tteld wilhin the Educatronal Development FutKI of £4.1m. The unreslrthd fvnds are sp￿t to rellect the Govemors. current antj distinguish befvoen those held for contin9ency and the day lo day running ol the School. The assets of Ihe School a￿ adequate for its current obligab.ons and a￿ pcincipally represented by the Schcol's inveslment in Tts tangible fixed assets and fixed assel investments

RYDE SCHOOL REPORT OF THE GOVERNORS IConlinu•dl 3.8 Management The Board of Govern(NS is ullimatety resFLinsible for ts managgmenl of risks faced by the School. The principal rtsk the Schcnl fa¢es is the ￿tentIon and recruitment of pupils. il takes a variety of targeted measures to mitigate. The operational risks are monitofftd by Ihe Board but assessed by the Head Master and the Senior Leadeiship Group. The results ol the risk management pr(￿edureS operated by the School Executive are regularly reported to the Boafd. In addition. the Board carries out an annual o¥eThiew of risk assessment and reviews child rrfotection poliaes and the effecti¥eness of tsic applKab"on. The key ¢￿trOl5 In place are". fomal wjendas lor all Committee and Board meets"n9S: detailed temis of referer￿ for Committees", ¢omFxehen%ve development and financial strategy, c￿r organisational slructvre and lines of reFolling.' fornal wniten polictes.. fomial investmenl policy, kar authortsion and approval levels., velting procedures as required by law: comprehens4ve insurarKe cover. statutory chikl protection prc£edures" and regular appraisal of Ferf￿MOnr￿ appropriaie trainry. The School has adopted a recofflmenéed risks assessment procedure lo assess and add￿$$ risks lo the Charity in which the whole GovemKu body is a participant anntsally. The Govwnofs. poly is to pul in place measures to minimise the effect of any risks so assessed. The School has an effective Health and Safety Committee on whlch Mr Weeks sits as a designated Governor. The Commrttee is chaired by the BsJfsaf arbd its minutes are reviewed regularly by the Finance and General Purposes Cc¥nmrttee and the Board 3.9 Futsre Plans Th• S¢hoofs Mission Statement and strateg￿ obj￿ts.¥eS for 2021 and teyond. developed by both the Senior Management Tearn and the Board. enu)mpasses the firture plans for the &hool and can be viewed on the School webg"te. wMv.rydesclh￿.Cry.Vk This is reviewed ￿nualty exh summw temi. The School is a￿are that private edu¢atK)n is proving incfeasingly expengve for pa￿nts and strives to provide the best possible value combined wrth excellence bn education and paslofal ca￿. 3.10 Fundralslng a¢tivlti The schchs had an active fun¢Jrabing ¢amp8ign to ratse fvnds for the Jenny Kerry Perfomiing Arts Centre project whtch has now been COMp￿ted. ￿ compL4ints were received in ￿lation lo any fundrai5irvJ activits'es over the course of the 2021122 year. No further fiJrKfraising activrties are currently planned. Governors St•tgmont of Govemots. Responslbiillies for the Flnantlal Ststements The Governors a￿ responsib￿ for PTepariryJ the Slralegic RepxL Annud Report. and the financyal statements in accordance with appltcable laws and regulations. 12

RYDE SCHOOL REPORT OF THE GOVERNORS {Contlnu•dl Compwy law requTrs Ihe Govemors to prepare financial slstements for each financrdl year which give a true and fair view ofthe siaie ofaffair5 of the charity and of the in¢))ming restyjrces and applicat)on of resourcw ofthe charity Jr that perKd. In preparing these firwb)al statem￿, the GO￿nOts are required to". select surtabie accounting polKies and appty them consislenlly.. make judgements and estimates that are reasonabk and pruden( prepare the financial ststements on the going concern basis unless it is inapprowiats to presume that Ihe charity will contsnue to opefate., and stste whether applic&4e ac￿￿nts'n9 slandards have Lw? foJloV￿. subject to any material departures discbsed and explained in the financial staternents. The Govemors are respon$ibte for kwng proper acQ￿ntiftg records that are sufficnt lo show and explain the harity's transactions and disclose with reasonabte accuiacy at any lime the fin3rt¢rdl position of the charity and enable Ihem to ensure that the financyal statements the CompaniesAct 2006. They are also responsible for 5aleguarding the assets of the chanty and hence for taking reasonable sleps fry thè preventitin and deteth.on of fraud and ¢)ther irregular￿'es. 5. Auditor A resolution to reappoint BDO LLP ill al the Sch￿1.5 Annual General Meeting. 5.1 statem￿tS to ￿$clOS￿re ofinformth to the Audllor So lar as the Govemofs are aware. the￿ is no relevanl audit infcfftation of which the chantys auditor is unaware and each Govemor has taken all the steps that he or shÈ ought to have tsken as 8 Govemor in orde( to make himself or hersdf awa￿ of 8ny rete¥￿1 audit infonn*ion and to establish that the charitys audrtor is aware of that infomalion. This reFort has been prepared in atC4ydance wth Ihe Ststement of R&ommended Practice - Accounting and Reporting by Charitie5 and in axrydance wilh the Companies Act 20C6. On behal of thè Goverru5'. Professor C.C. Lees Governor Date.. 17th March 2¢f23 13

INDEPENDENT AUDITQR'S REPORT TO THE MEPABERS OF RYDE SCHOOL Oplnlon on th• financial stat•m•nts In our opinion, Its financa S￿te￿￿t$.. give a true and fair view oflhe stale ofthe Charitable Company's affars a5 * 31 August 2022 and of its ￿CoMIng resources and appI￿￿"0n ol reswrces lor tho year then ended.. have been properly prepareil in acoydance wlh United Kingdcrfn Generalty Accepted kxounting Practice: and av8 been PrePa￿d in acc(Kdance with the requlrements of the Companies Act 2006. We have audited the financial statements of Ryde School ("the Charirable Ccfflpany'l for the year ended 31 August 2022 which comprise the statement of financial activitss, the balance sheet, the statement of cash flows and notes lo the accounts, incI￿AIn9 a summary of swJnificant accounting p)lictes. The financial reporting framework that has been applied in their preparation is appltable Jaw and Uniled Kingdom Accounts"ng Standards. including Financial Reporting Stsndard 102 Th& Financial Rgportir@ Standard awicablg in the UK and R8publiG of Irand (United Kingdom Generally Acwted A(Lounting Pfacb"tsl. Basls for oplnlon We rKJndueted oui audit in acrxjrdance 1n1wnat￿ftaI Stsnda￿ on Ajjditry IUKI (ISAS {UKII and applicablè law. Our responsibilities under those standards are hjrther described in the Auditors Tesp)nsibilities for Ihè audit of the financial statements seclion of our report We believe that the audit evidence we have obtained is suffiuenl and appropriate io proVN￿e a basis for our opinK)n. Independ&ncè We remain independent of ltte charitab￿ Company in &eordanee the eth￿[ requirements that are relevant to our audit of th8 finan¢RI stslements in the UK, including the FRC'S Ethtal Standard, and wè havo fulfilled our other ethical resporisibiltts in xcordanca wilh these requirements. Conclusion8 ielated to going ¢on¢ern In audrting the financial 5ratements. we have conduded that the &)vemors' use of the going concern basis of accounting in the preparat￿ of the fina￿131 statements is approwiate. Based on ihè work we have perfomed. we have not identsfied any malerial uncertainb.es relating to evgnis or condilK)n$thal. indivhlually orcdlects'vely. may cast Si9nifi¢anl ¢Joubt on the Charitable Companys ability lo eontinue as a going concem for a peiiod ol al least Nvefve monlhs from tthen the ffinanckql statements are authorised for issue. Our responsiTrJilities and the wponsibilities ol the Govemots V•ith respect to going are described in the levanl seelions of this reporL Other lftfoffmlon The Govemors are ￿SPOnsIb￿ fDr the other informalion. The other information camprises the information included in the Annual Report other than the finanual statements and a￿lit0￿5 report thereon. Our 0￿.niOn on the financial statements dsjes not cover Ihe other infonnalk)n and. except lo the exlenl otheM1￿ explicitly staled in our report, we do not express any form of assurance conclusion thereon. Our ￿SPOnsibl11ty is to read the other informabon and, in do￿9 so. consider whether the other infom)4tson is materially inconsistent with the financial statements, or our knowledge obtained in the course of the 8udi( or olhermse appear5 to be materially rnisstaled. If we identify such material inconsistencies or apparent material rnisstalements, we are ￿qUired lo delermintr whether Ihis gives rise lo a malerial misstalemenl in the financial statements themsefves. If. based on the work we have perforTned. we condth th the￿ is 8 material misststwnenl of this other inlc¥malion, we are required lo report that fact. We have nOth￿g lo ￿port In this reg¥rrl. 14

INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF RYDE SCHOOL Other Companles Act 2006 reporting In our opinion, based on the work undertaken li the c4)urse of the audit thè information given in the ReFKrt of Ihe Govemrys, whth includes the Directors. ReFrfJt and the Strategic port prepared fcK the purposes of Company Law. for the firwwf year forwhi¢h tt10 financial statements are prepared is consbstent with the financial ststements". and the Strategic Report and Ihe Diredors. ReFQrt. whth are irKluded in the Rewrt of the Govemots. have been prepare¢J In a￿rdance V+ith apFAicabie legal requirements. In the IKJht of thè kncmledge and unoerstsnding of the Charitsble Company and ils environmgnl obtaI￿d In thè course of the audi(, we have idenlffied material misstaiemenl in the Govemors, report. We have nothing lo report in respect of th8 folowing matters in ￿lat￿lTr to which the Compwi8s Ad 20CO requires us to report to you rf, in ouropinion: adequate accounting records have not been kept or retums ad￿￿•te for our audit have not been recelved from branches not visrted by us: or the financial Stst￿ellts are not in agreementTIth Ihe ocuunting recwds and Tetums." or certain disclosures of DirectOfS' remuneration specrfEd bylaw are not made.. or we have not received all the inf0M￿tiOft and eWanatThts we require for wr aLtrYit. R•$ponslblllties ol Governo As explained more fully in the Staleffent of (>￿eMOr5. ResFonsibilbties for the financial statements, the Govemors (who are also the dIr￿lOrS of the chaTrtable eomparty for the purposes of company lawl are responsible for the preparation of ihe financial statements arnd forbeing satisfied that they give a true and fair view, and for such internal control as the Govemors detemiirte is necessary to enab￿ the preparatson effin￿81 sLqtements that are tree from mater￿1 misstslemen( whether due to fraud or error. In preparing the financial statements, the Governors are reswnsible for assessing the Charrtable Company's ability to ￿ntinUe as a going 0)n￿rn. disclosing. as appl¢cable, mattets reL4led lo going concern and usirg Ihe going concern basis of accounting unless the Govemor5 eithw intend to liquidato the Charitable Company or to cease operation5. or have no realisti¢ atternative bul to do so. AuditDWs responslbiltties lor the •udit of the financial slatem We have been appointed as auditor under the Companies A£t 20C6 and ￿pOrt Fn attordance with the Act and relevant reguL4lions made or having effecl thereunder. Our objectives are to obta"n reasonable assurance about whether the financial ststements as a whole are free from malerial misstatement. whether due to fraud or error. and to issue an auditorfs TeFtyJrt thal includes our opinion. Reasonable assuran￿ ts a hpjh level of assurance. but is twt a guarantee that an audit conducted in accordance ilh ISAS IUKI will ahvays detecta material misststementwhen it exists. Mtsstatements Can arise from fraud or effor d are consKlefed material if. individually or in aggregate. they could reasonably be expected to influence the economi¢ dKIs￿n$ of users tsken ￿ the basis of these financHI statements. E¥tenl to the audtt was capable of deledjng MTegulwytss. incluthng fraud Irregularities. induding fraud. are instsnces of non-g)mpliar￿￿ WTth laws and ￿9￿110ftS. We destgn procedu￿$ in line with our responsibiif(ies. outlined atr￿¥e, lo detect material misststements respect of irregularities, induding fraud. The extent to vthich our prc¢edures are capable ol delecting I￿egularities, including fraud is detailed belDW. We considered those laws and regulations that have a dwect Ifflp￿t cffl the financial stslements, SLKh as the Compantes Act 2006 and Chantw Act 2011. We evaluated managemerfs i￿entiVeS arKI opportunities for 15

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RYDE SCHOOL fraudulent manipulation ol the financial statements {inclL#Jing the risk of override of controls) and determined that the prinapal risks were related lo inapprowiate Joumal entries lo manipulate financ￿1 results. procedu￿ performed by the avdsl induded: discu55ion$ with rnanagement and those Charged with govemance ￿gardi￿ consideration of Kn¢)wn or Suspected Instan￿ ol non-ts)mp1ian￿ with laws and iegulations and fraud., obtaining an undetstsnding of contro15 desffjned to prevent aThJ detect irregularitses, including specffic eonsideralton of controls and wiunling p)Itcies relath.ng to s￿nrf￿anI aceoijnling eslimale$,' rgvthving minutes from finance and general purpose committee ni*ings for e¥Klence of any fraud or non. ccvnplk4nce wlh laws and ￿Ul#1￿2n$. communicaling relevant lav•S and fegulabons and Wential fra￿a risks lo all engagement team membws 8rKJ remaining alert to any Ind￿at￿)ng of fraud or non-covnpliance wth lawE and regulath)ns throughout the aLhJit,' and assessing joumal entries as part of our planned audrt appr￿h. a p8￿CUlar fwjs on journals entries lo key financi815ts1ement areas. Our audit wocedures were deggned to respond lo risks of material mi5stalerr￿I in the financial ststemènts. recognising that the risk of not detecting a material misstalemenl due to fraud is higher than the nsk of not detecting one resulknng from error. as fraud may invofve deliberate concealment by, lor example, forgery. misrepresenlaltons or through collusion. There are inherent Ivnitalions in the audit procedures performed and the further removed non- compliance with laws and regulab.ons is Irom Ihe events * transacltons refteLtte¢J in the financial statements. the less likely we are to be¢ome aware of rt. A furttrw descriptson of responsibilities for the audit of the ffinanckil stslernents is located al the Financial Reporting Councifs I"FRC's"I websrte at h .uklaudbtorsres . Thi$ OeSc￿ptIoft fom7s part of our auditorfs repotL Use of our roport This report is made solely to the Chantable Company's members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Acl 20C6. Our audrt work has been undertaken so that we might stats lo the Charitable Company's members those matters we a￿ required to state to them in an auditorfs report and for no other purpose. To the lullesl extent permitted by law. we do not accept or assume resp)nsibility to anyone other than the Charitable Company and the Charitatjle Company's members as a boty. for our audit work, for this report. or for the opinions we have fofmed. David I'Anson {Senior Stalutw Auditor) For and on behaw of BDO LLP. Statutory Audrtor Southampton, UK Dote 31 Maf¢h 2023 800 LLP is a limited liabitsty paftsiership registered in EngSar4J and Wales (￿th regi¥lered number OC3051271. 16

RYDE SCHOOL STATEMENT OF FINANCIAL ACTivmES (INCORPORATING INCOME AND EXPENDilliRE ACCOUNTI FOR THE YEAR ENDED 31ST AUGUST 2022 Gnernl Fund D¢sJ9nated ftesiricted Fund5 Funds Tolal 2022 Total 2021 Incom8 fmm: Donations Charitable aclivilies.. Fee5 receivable othereducat￿l81 income Other trading activities Inveslmgnts Other Income 790,708 790,708 74,590 10.565.6SO 87.599 81,099 307.230 10.565.650 9.010.853 87.599 180.426 81,099 38,887 451.082 134,695 97,598 11 143.852 Total income 11.041.578 143.852 7￿>.708 11.9T6.138 9,537,049 Ex￿ndIture on: R8ising funds Charitablè acb"vf(ies 11.125 11.125 8.548 7￿ 10.499.084 9,069,828 10.498.384 Total •xp•ndithve 10.498.384 11.125 700 10.510.209 9.078.376 Nel inwrne tefore 9ain$ on investrnents 543.195 132.727 7￿.008 1.465,930 458,673 Fair value gain$ on instment Propety 2.750.194 2.7SO.194 Net Ilosses}Igains on investrnents and revalualion of assets (186.429) {186,4291 374,236 Net Incomè 3.293,389 (53.702) 790,008 4,029.695 832.909 Interest Rale Hedge 936.723 938.723 Transfern b•tw¢etb fut 16 948,856 {95.0181 (853.838) Net movement In lunds for the year 5,180. 1148.720) 163.830) 4,968,417 832,909 Recon¢lllatlon ol fund¥: Tolal lunds brou9hl forward 12.313.107 4.262.943 147,093 16.723,143 15.890,235 Total lunds ¢4rrledfonnrd 17.494.075 4,114,223 83,262 21.691.560 16,723,144 l of the eharitys acts¥it*s in the atthie financial years are derived from o)ntinuing operations. All gains and losses recognised in the year are induded above. The notes on pages 20 to 33 knm F4•t of these ac￿nts 17

RYDE SCHOOL BALANCE SHEET AT 31ST AUGUST 2022 Nolo5 2022 2021 Flx¢d A¥¥•ts Tangible frxed assets Investment property Investments 21.913.712 3.665,000 3.069.721 21.383.593 10 11 3,642.067 28.648.434 25.025,660 A88ets Stock Débtots falling within one year 12 Debtors falling du& after one year 12 Cash al bank and in harKI 16.813 722,778 647.577 352.341 11,320 383,620 544,758 1.739,509 939.698 Liabllitios Credilots falling due within one year 13 (3,150,983) (3.031,315) N•1 Cuttonl Llabll#ies (1,411,474) (2.091,6171 Total Assets less Current Llabilltles Creditors falling due after one year 27.236.959 22.933,849 14 15.545.397) 18.210,8981 NET ASSEfS 21.691.562 16.723,144 Th• lund$ of th• chatlty Unrestrlc¢ed Incorn• F￿d5 DeS￿nated Educational Development Fund General fuThds 4.114,224 17.494.075 4,262.943 12,313.108 T¢>tal Unr•slrlct•d Funds 16 21.608.299 16,576,051 R•striet•d InMm• F￿￿15 16 83,263 147,093 TOTAL FUNDS 21,691.562 16,723.144 The financial slatemenls were ap ed by the Board of GOv￿A0￿ and authorised for issue on 1Fh Mwch 2023. Professor C.C. Lees Govemor Date.. 17th March 2023 Company Number 432077 The notes on pages 20 to 33 form part of these acC￿nIS

RYDE SCHOOL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST AUGUST 2022 2022 2021 14•t cash inflowfrom operating a¢tivitios 1.739,131 1,824.698 Cash flows froml{used Inl inve5tlng act1¥￿$ Dividends. interest and rents frc investrnents 451.082 1134,6951 Purchase of tsngible fixed assets Purchase of inveslments Cash realised from sales ot Investments (2.226.590) (4,581.695) 1500,000) 365.917 Net cash used In Invesllng adlvltl•s (1,389.591) 15.216,390) .Cash flo￿ froml{u50d inl financing actlvities Repayment ol boTrowing Repayment of mortgaJe New borrowngs 1471.959) 169.999) 152,9871 1275.290) 3,015,$34 Net Cash lused Inl*Trorn finan¢lng actlvllies (541.958) 2,687.257 (Decrease) In cash and equivalents In the reportlng period I1￿.417} (704,4341 Cash and cash •quival•nts at th• be9lnnin9 ol the reporting perfod 544.758 1.249,191 Ca$h and cash equivalents #t the end of th• reporting period 352,341 544.758 The notes on pages 20 to 33 fo￿ part ofthese accounts 19

RYDE SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2022 A¢￿￿￿{lA9 P¢licl•s Ryde School is incorporated in England and Wales as a company ￿.fflrted by guarantee not having share capital. There are currenuy 13 9ovemors who are also members of Ihe company. Each member has undertaken to contribute lo the assets in Ihe evenl of a winding up a sum rnt ex¢¢eding £1. Ryde Sched is a r￿IStered charity. The registered offTh is given on pag8 2. The principal accounting pohctes adopted. judgements arKI key s¢urces of estimation uncertainty in the prepaiKJn of the financial stments are as follows.. Ba$ls olPr•paraflon The financial stat8ments havg been prepared under the historical u)st convenlion. Trn accordance Accounting and RepLvting by Chariliès." Statement of Recommended Practice applicable to charities preparing their ac¢ounls in acc¢ydance wth the Financial Rep3rting Standard appluble in the UK arbd Republic of Ireland {FRS 1021 (effective 1 January 2019}." and the Comp8nies Act 2006. Ryde School meets the definition of a publrc berfil entity under FRS 102. Group Ilnanclal ststements Thè finanaal statgment$ show the results of Ihe parent eniity alone and have not ¢onsolthled the fesults of the subsidiary undertaking on the grourKls of materiality. Pr￿an￿on olthe a¢¢ounts ¢)n a golng concem b￿1$ In preparing the financial statements on Ihe going concem basis the Govemors have prepared financial forecasts for the finar£ial perK•Js ending 31st August 2027 consK1enng principal risks and uneertainties affeets.ng the School's operations. including th¢)se arising from economic Ul￿ertainties inctudirw3 the 'Cost of Living CrL%iS' The School saw a retum to an operatsng surplus in 2020r21 having previously been adversely impacted by the Covid-19 pandemic, thi$ has been improved u￿n for the 2021122 financk41 year and is anticipated to ¢oniinue into the fuiure. Based on these forecasts and Ihe ability lo call upon fund5 held wlthin the EDF fund, Govemofs believe the Sch¢d wdl be able ki continue lo oyate whin its exists.ng kn"lilies for the foreseeable future. In preparing the financial stalefflents. the Govemor5 are respon5ibla for asseswng the Charilabse Company's ability to continue as a going concem, dLsclosing. as applicab￿. matters related lo going concem and using the going concern basis of accounting unless the Governors elttsr intend to liqU￿ale the Charitsble Company or to cease operat￿n$, or have Th) reajtstrc altematsve bul to do so. Incomlng Resourc Fees receivable and charges for Se￿￿e$ and use of premFses are accounted foi in the period in which the service is provided. Fees receivable are stated after deductin￿ alkswances and biAfEarie$. Interest on funds held on deF¥)sil is i￿luded when receivabb and the amount can be measured ￿liablY by the charity; this is normally upon nobficat￿n of the interest paid or payable by the l)ank. Dlvhlends are recognised once the dividend has been dedared and notificatK)n has been received of the divideTrJ due. This is normally upon notific2ts.on by our investment advisor of the dividend weld of the investment portfokno. Grants and donations are recovered when the SCI￿1 is enmed to the irthme. rt can be measured reliably and il probab￿ il bvill be received. 20

RYDE ￿HOOL NOTES TO THE ACCOUNTS l¢ontinued) FOR THE YEAR ENDED 31ST AUGUST 2022 Resources Wended Expenditure ts acttunled on an accnJaL ba&s. C¢$ts of gfjnerating fvnds are costs wturred i) attracting voluntary income and investsnent management fees ir￿Urred as a result of maintaining the Srkn>J's investment portldio value. Charitable activities include expenditure assocoted th the provision of educab.onal service8, including boarding facilits, arrft include both the dired costs and support costs relab.ng to those ackn"vilies. G0Veman￿ costs indude ItrN)se incurred in the governance ofthe Sthool and ils assets and are primarily associated with constitutional and stslLrtory requirements and are allocated to Charitsb￿ actiwties. Supp)rt o)sts include central functions and these are allocated to resource5 based ¢Jn acb"wty. ranglblo FlxedAssets Individual rued assets Costing £500 or more are Ca￿lIsed at c￿l Tangl￿e fixed assets are ststed in the balance sheet at O￿l less depreciatson on a straight4ine basis al the followirNJ annual rates: Freehold land Freehold buildings Fumiture, equipment and mxhir Motor vehides 10%- 33% 25% A transfer is ma(le befvfftn the general unrestrthd funds and the Educabonal Development Fund to finan¢8 buTsaries and Ser￿larships. Investrnents are ststed St their Ma￿et value. The value of un(( trusts is the closing quoted markel price. The statement of finanual activits ir￿uleS the nel gains and losses arising on revaluation and disposals Ihroughout the year. Investments in subsidwes are slated at rasl18ss any provis)n for Impalm￿l. Inveslmenls Proper￿ ar6 staled at their fair value. ThL8 is F￿Vided by an bndependenl property expert and is t>ased on the current value of expected future irKome. Peftslons The SchThl contributes to the T&%hers' Pension Defined Benefft Scheff at rates sel by the S¢heme Actuary. The Stheme is a rnutti*mployer pension stheme and il is not possible to Kfentrfy the assets and liabilities of the Scheme which are attributab￿ lo the The scheme is acc4)unled for as a defined contrSbution scheme. The Schod also operates defined ¢¢￿tribU110n schemes for c8rtain non-teaching staff. ContributKns to bcth schemes are tharged to the Statement of Firwicial Activities as they become payable in a￿ordanCe with the mles of the schemes. Stocks Siocks are valued al the lower of cost and net realisable Value. 21

RYDE SCHOOL NOTES TO THE ACCOUNTS l¢ontlnu•dl FOR THE YEAR ENDED 31ST AUGUST 2022 Debtors are measured on inrtk¥l reeegnilion * settlement a￿K￿nt after any trade discounts. Cash at bank andln hand Cash al bank and cash in hand includes cash and short lern hvjhly liquid investments with a short maturity of three monlhs or less frorn the dale of acquisib.on or opening of the deposit or similar account. Cash holdTrng$ wilhin the Invesbnent portfolts are Iherefore recognised as cash at bank an¢J in hand on Ihe baknce sheet. Crndit Liabilities are recognFsed tthere it is MO￿ likely than not that there is a legal or constructive obligation coMmitts￿ the Charity to pay ¢)ut resources and Ihe amcuit of Ihe ob1)gat￿n can te measuTed wlh r¢asonable certainty. Taxafjon Rydè School. as a registered charity. is exempt from Corrxyabon Tax under Chapter 3 of Part 11 to the Corporation Tax A¢1 2010 of Section 256 of the Taxaiion of Chargeable Gains Act 1992 to the extent that Surpluses are applied to its ¢haritabk purpclses. Flnanel•l Inslwments 88sic financial instruments ￿e initiafly recognised at transaction va￿e and subsequenvy measured al their settlemenl value. The school has entered into an interest rale heL1ge agreementwilh regards to the bank loan to oftsetthe impact of rising interest rates. The arrangement is measured al fair value and the asset or liability is recognised on the b8lanc $￿et. Changes in fJ"r value are ieported ttwough ihe Statement of Financial Aclivilies. The bank ban is accounted for atamorbsed cost Operntingleases Rentafs payable under operatiTrJ leases are expensed on a Stsaight-I￿e basis over the lease temi. Fund accountlng RestfTcled funds are those hthich must be applied in accordance wth the wrpose specified by the donor. Expenditure rebting lo these pu￿1$e5 Is therefore charged diredly to the fund. The vnreslricted income funds eompThe those lunds the Goveffm are free to use for any purpose in furtherance ol the charitable obiects. Suth lunds incliKJe designated funds where ihe Governors, at their iscrelion, have cie81ed a fund for a speofic purpose. Transfws of funds bemeen general unrestricted funds and designated funds are approved by Ihe Govemors. Judg4m6nts In eppfylngaccounury poM¢les and keysowces of •stlmadon unc•rtnty In preparing ￿se fwwcial ststements, ttE govemors have consrdereo the follwng forms of estimatK)n uncertainty.. Fixe(l assets Residual value of assets. EconomTC lives of assets. Debtors Impainnent of debtors are assessed io identify net re¢overable amounts. Hedge under￿'n9 discount rales when un¢Jertaking the fair value of the Inte￿$1 rate hedge.

RYDE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022 l Fees Recelvable 2022 2021 Fees Receivable Less". S¢holarships and Bursaiies 11,334,413 {768.7631 9.802.991 <792.1381 10.565.650 9,010,853 Net Ineomlng Resour¢es forthe y This is stsled after charging.. 2022 2021 Auijilofs remuneration Dep￿clat10n- owned assets Operating lease rentaJ5- equipment 17.500 781.665 77.384 15,450 682,736 100,496 4. Oth•r Incom* 2022 2021 Oth•r Educational Charitable Actmtles Site Su￿letting Holiday school 14.399 73,200 170,500 9.926 87,S99 180,426 Other tradln9 In¢¢)me Insuran￿ ￿)rr￿ls$•0ns et¢. Sundry 9.000 72,099 19.646 19.241 81.099 38.887 Furlough Income 97,598 Chafitsble actl¥ltles 2022 2022 2022 2022 Total 2021 Total Fund Fwwj Charitable actlvitles Stsff costs Other direct eosls Depwation Bank and loan interest (seè ncle 7) Support cost Govemanee costs Raising Funds Total 6.546.368 1.918,519 781.665 139,431 1.090.203 22,198 6,$46,368 1,919.219 781.665 139.431 1.090,203 22,198 11.125 700 10.510,209 5,899.982 1.359.900 682,736 90,451 1,020,533 16,226 8,548 9,078,376 700 11.125 11.125 10.498.384 The govemors consider the ¢harity to have a single charitatle activity. Ihe provision of education Servi￿. 23

RYDE SCHOOL NOTES TO THE ACCOUNTS (¢onlfjnu•d) FOR THE YEAR ENDED 31ST AUGUST 2022 Anafysls of Support and govemanee 2022 Totsl 2021 Total Support costs Govwnan¢• ¢osts Stsff costs Other Audit Fees 640,721 449.482 640,721 454, 180 17,500 1.112,401 634,074 387,235 4,698 I.0￿¢.203 22.198 1.036,759 Inl•resl Payable 2022 2021 Bank interest 8ank loan5 Mortgage interest 2,000 75,465 12,986 124,062 14,525 139,431 90,451 Employe 2022 2021 Slaff costs during the y&¥. Wages and salaries Social security Pengon costs 5.745,421 583,722 857,946 5.147,371 511,822 883,285 7.187,089 6,542.478 The aveftge numter of enwknyees of the Sdlool was as ton￿5." 2022 2021 Teaching staff Catering. cleaning and mainlenance staff Admintstralion staff Support staff 108 101 18 18 203 The number ofemployee5 whose emc4uments ex￿jed £60,000 were: 2022 2021 £60,000-£69,999 £70,OUD- £79.999 £80.000- £89.999 £90.000 - £99.999 £100,000 + No remuneralion oi benefft5 y￿e paKI to any Governor dunng 2022 or 2W21. During the year Govemors incurred and iedaimed ttavel expenses of £4,698 (2021". £7661. GovemoTs are indemnified under the School's pU￿le Ik4bility ￿1￿Y the overall premium for which ¢osts £1.80212021.. £1,475). Key managen7enl personnel The aggregate amount of empbyee benefits ￿ io key m￿agement pwsonnel was £573,719 12021.. £593.344). 24

RYDE SCHOOL NOTES TO THE ACCOUNTS Icontinued) FOR THE YEAR ENDED 31ST AUGUST 2022 TarvJible Flxed Assets Frne?￿kI Fumiture, Land & Equipment Idlngs & IA•chinery Plotor Vehl¢l•s Totsl Cost At 1st Septernber 2021 Addib"on5 Recla55ifiGatvJn 25.651.089 1.972.6C6 (1.460,558} 5.451,152 253,985 60.401 31.162,642 2.226,591 (1,460.5581 At 31stAugust 2022 26.163.137 5.705.137 60,401 31.928,675 Deprecialion At 1st September 2021 Provided dU￿ng year Redassificabon 5,473.229 560,537 {545,751) 4.249.852 218.008 55,968 3,120 9,779.049 781.665 {545,751) At 31st Augu# 2022 5.488.015 4.467.860 S9.088 10,014.963 N•t Bo¢)k Value At 31st August 2022 20.675.122 1.237.277 1.313 21,913,712 At 31st August 2021 20.177,860 1.201.301 4,433 21,383.593 Included in the fgure for freetth land and bU￿ding$ is treehold land of £1.285.00012021'. £1.760.000> whth has not been depreciated, £475.000 included in the prior yearhaving been redassified to Investment Properbes. 10. Investment Pwerty Total Falr value ReclassifiG*ion from fixed assets Net 9ain5 Irom fa'r value adjustmenls 914.81 2.750.194 Al 31st August 2022 3.665,000 The valuation was prepared by Samantha Hill MRICS, a RICS regbsterod valuer al Savills (UK) Limrted dated 1￿ January 2023. Savi115 have tyeviously wsiied the site and ¢arrigd out a desktop valuation based on the present value of future rental income and mathet mo¥￿ertts (Ner the year. 25

RYDE SCHOOL NOTES TO ThE ACCOUNTS (eontlnuedl FOR THE YEAR ENDED 31ST AUGUST 2022 11. Flxed Asset Inve¥trnents 2022 2021 Quot•d (at market v•lu•) UK lisled urmt trust 3.069.621 3,641,967 3.069,621 3.641,967 2022 2021 Inv•stmgnt In $ubsldiary 100 100 Ryde SchLbJl Conslrue￿n Limited is 100% ow7d subsidiary (Company numter. 10513227). The subsidiary has been used lo unrjertake a new boarding house devek)pment on the Ryde School site. The subsidiary's regisleTed address is Ryde School, 7 Queens Roa(I, Ryde. Isle ol WvJht. P033 38E. 2022 2021 Movem•nl in year Al Isl Septembei 2021 Acquisition¥ al wst Drawdowns Nel Ilossyprofrt oft ￿valuation 3,841,967 2.784.647 500,000 1385.917) (186.4291 357.320 At 31st August 2022 3.069.621 3.641.￿7 The untt trust lund is invested solely in the SthrcJor Mufti-￿1 unit trusl fund. Investment income is derived from.. 2022 2021 UK listed unil trust Rent r8¢eivable UK bank and other intwest 143.847 307,230 134,677 18 451.082 134.695 12. D•btorn: Amounts Famlng Due Wfthln One Y￿r 2022 2021 Fee accounts Other debtors Interest rale hedge PrepayTrents 198.577 214,406 130,016 179,779 213,441 3,210 166.969 722.778 383.620 Doblorn: Amounts Faming Du• After One Year 2r122 2021 Interest rate hedge 647.S77 26

RYDE SCHOOL NOTES TO THE ACCOUNTS Icontinu•d) FOR THE YEAR ENDED 31ST AUGUST 2022 13. Creditors: Arnounts Falling Due WithlTr One Y¢ar 2022 2021 Fitsl Debenture Loans 5.5% Mortgage Bank loans Trade CTeditors Accruals Social Security and other tsxes Fees received in advance Othef creditors Intsrest rate hedge 950 69,999 476,717 151,959 84.969 149,960 1.710,088 gX.341 950 69.999 476.717 142.664 205,147 137,594 1.467,711 SC6,954 23,579 3,150,983 3,031.315 The debenture bans are rede￿￿b￿ at the opt￿ffi ofthe CoMp￿Y ¢)n giving th￿e morths, notice. Fees in advance represent lees received in advance of 31 August year for the Autumn term and beyond, which commences in September. 14. CredIto￿. arnouThts falung duE after more than ob)e y•aT 2022 2021 Bank loans Mortgagè 4,952,057 593.340 5.424,016 663,338 5,545.397 6,087,354 Interest rate hedge 123.544 5.545.397 6,210,898 Due wlthin ¢>neye4r An anatysis of Ihe maturity of loans is gr¥en bekjvr. 2022 20 Arnounts falh'ng due wtthin cne year or M demand.. Bank loans Mortgage 476.718 69.999 476.717 69,999 546.717 546,716 Due In more Ilwl on• year Due in ￿re than one year but not mre than t* Due in more than two years but not more than five Due MO￿ than five years $54,018 1.578,033 3.413,346 551.428 2,122,582 3,413,346 5.545,397 6.087.356 The bank and mNtgage are secured on the School's pr￿mIseS in Ryde and Bembrtdge and a fixed and Iloaknng charge over all assets of the Schtr)l. Interest is being charged a11.59% over HSBC base rate. 27

RYDE SCHOOL NOTES TO THE ACCOU14TS IMntinu•d} FOR ThE YEAR eNOED 31ST AUGVST 2022 IS. Fltt•ncl81 Instruments The charity's financial Instrum￿18 may be analysed a$ folows.. 2022 2021 Financial assets Financial assets measured at lair value through the Stat￿nent of finaneial aclNIty FinarKial assets that are measured at amortised cost Derivabve financial instruments designated a5 hedges of varkible interest rale risk 3.(￿9.621 3.641.967 750.454 761,409 777.593 Financial liabilities Financ1 liabilibes measured al amortised cost Derivats've fina￿$al instruments deswjnated as I￿￿ge5 of wariable Inte￿St rate risk 8.696.380 7.463,141 147,123 Financial assets M￿ured al fair value Ihrough the ststement of financaal activity comprise fixed asset investments in a UK listed unrt trust Financial assets measur8d al amortised cost comprise Cash. tfade defrtors and other debtors. Deiivatwe financial instruments desfvJnd as hedges ofvanable interest rate risk comprise interest fate hedges. Financial liabilits'es rneasured at afflortise(I cost comprise the debenture and bank loans (inGluding mortgag81, trade credittys. other credrtors and accruals. In the year ended 31 August 2011 the School borr￿ed funds frcrfn its bankers under 15 year term loans of £1.5m and £3.7m resFttty"vely ("Existing Facilities"). In Ihe year ended 31 August 2020 the School entered into a newsecured f￿lty agreementwilh ils banker5 relatin9 to term loan lacilrties of £4.5m lo finance the buibj of its new boarding tsolity I"New Faclrtiesl which were ￿llY drawn at th8 year end. The School entered into a fixed interest rate hedge to hedge the potential volatility in future interest cash nows arising from movements in the HSBC base rate I"Inlerest Rate Hedge"). The Interest Rate Hedge commencedon l April 2021 and terminates on 28 June2030 and covers the principal amount olES.711,234 being the entire amount outstanding at 31 March 2021 under the Existing Facilities. ￿ Fxilities and the mortgage. The Interest Rate Hedge is fixed at 0.394%, a5 a result of increasing base rates during the yeai. wnKh are now in excess of the hedged rate, the School holds an assei this commitment on the balance sheet. As al 2022 year end the laif value was £777.59312021= liability of £147.1231. The change in lair value in the year wa5 £924,71612021.' £{2.98411 which is shown as'lnlerest Rale Hedge, on the Statement of Financial tsvilies. 28

RYDE SCHOOL NOTES TO THE ACCOUNTS Ic¢ntinued) FOR THE YEAR ENDED 31ST AUGUST 2022 16. Analy81s of Charitsble Funds Balan¢• at N•t Trnnsfvrn Balan¢t 8t 1st Septemb•t In¢omiThJ Resour￿9 gol￿1195•1 on b•kn￿n 31st Augu•t 2021 resour￿ wi¢nd¢d inv•8lrnents 2022 and other 9a1 Unrèstricted fvnds Designated fund EduGab"onal De¥tiownent Fund IEDFI General fund5 4.262.943 12.313.1 143.852 (11.125) 11.041,579 (10.498.384) 1186,4291 3.688.917 195.018) 4.114223 8,855 17.494.076 Totsl Un￿$trIC￿d fvnds 16.576.051 11,185.431 {10.W3,509) 3.$02.4&9 853.838 21.8OB299 R•stri¢tsd funds Creasey and Brown Fund Ryde Bursary Fund Theatre Fund 7.681 67.912 71.gyj 1600) (100) 7.031 78,232 8.370 1853.838) Total r¢gtrTrctd funds 147.093 79).708 (853,8381 83.263 Tot•1 funds 16,T23,144 11.978,139 (10,510.21M 3,502.488 21.691.562 Th• restriction on the Theatre dOnat￿n h85 been ￿j￿Iled by builJing ￿ Theatre and therefore Restricted Funds have teen transferred to UnrestsKled General Funds. An•ty$ls of Charflabl* Furrtts- prioryear Balance at N•t TAnsf•ws B•lan¢e at 1st >pteffl￿r Incoming Resour¢¢s loss tsn bètween 31st August 2020 xpended inve51rnents funds 2021 and oth•r gains Urwestricted funds 085i9nat¢d funds Educab"onal Developme Fund IEDF) General funds 3.892.335 I1.￿6.428 i34.￿$ 9.327,764 {8,$48) (9,050.859) 357.320 16.918 {112.859) 4,262.943 112.859 12.313,108 T<)tal unrnstrithd lunds 15.798.763 9.462.459 (9.059.407) 374236 16,576.051 Creasey and Browm Fund Ryde Bursary Fund Theatre Fund 7.731 83,741 (501 (18.9191 7.681 67,912 71.500 71,5(Kl Toial Wtrlcted fund5 91.4n 74.59) {18.W) 147.093 Total f￿￿$ 15.8W.2&fj 9.537.049 (9.078.376J 374,236 16,723.144 The EDF includes the Schcofs free reser¥e5 (see Report of the Govemors) set 8side by the Govemors lo prowde fiJnrJing for grants and awards arKI Whe￿ appropriate to provide fiTran¢e for buildirKJ development The fund investrments are man&3ed prOfessi￿aly. 29

RYDE SCTrIOOL NOTES TOTHE ACCOUNTS Iconllnued) FOR THE YEAR ENDED 31ST AUGUST 2022 TAnsfgr bth•en Funds A conlribution is made every yew towards scholarships and bursaries from the EDF lo the general fund. In 2022 this amounted to £133.74612021'. £112.859}. A transfèr frcxn th School to EDF was made of £38,728 {2021.. £ nil) being the intere51 and rent charge, thereby ￿sU[ling in a net transfer of £95,018 as reported in the Statement of Finan¢ial Activities. 17. Analysls of Ilrt Ass•ts b•twwn Funds E￿￿tional Oe¥elopmefrt R•8trlcted Fund Funds G•nernl Total Tangible Investment Properties Investrnents Cash al bank Other net current assewlliatrf'litiesl Creditors > 1 year 21,411.163 3,665,000 1¢)) 233.918 (2,270.709) {5.545.397) s￿.550 21.913,713 3,665,000 3,069.721 352,341 11.763,8181 15,545.3971 3.069.621 35,161 &%,891 83,2￿2 17,494,075 4.114.223 83.262 21.691.560 18. Contlngent Llbllltl•s and Capltsl Comrntiments Capital commrtmenis amounted to £115,331 12021." £1.582,266} al 31st August 2022. The School had not authorised or ¢ontra¢ted for any other acquigbons at that date. There were no contingent liabil¢tses as al 31 Augusi 2022. The conditions vAlhin the Grant Agreement beknn the Schc(Jl and the main thjnor in relation lo Ihe Theatre project have been wrEt a5 the building has been compieled, includin9 ren￿ing the theatre The Jenny Kerry Perfonning Arts Cenlre. . 19. Post-Balance Sheet Evofits The purehase of a property at 93 West Street, Ryde has tsken place ￿51-balance sheet at a total wst of £800,152 induding all fees. exehan9e of contrac15 tcok place on 1 Septembei 2022 and complerion on 131h Septembef 2022. This has been partly financed wth 8 m¢Xtgage of £588,750 repayable over a period 0115 years from 13 September 2022 al an inleresl rale of 1.95% per annum over the Bank of England Bas8 Rate. 20. Teachlng SLiff Penslon Fund During the year the School partKapated in the Teachers. PensR)n Scheme (England and Wales) I'lhe TPS'I for its teaching staff The pension charge lorthe year inthdes conlribubons payable to the TPS of£680.159 {2021." £775,786) and allhe ywnd £61.058 {2021-£65.893)vRs crued in respect ofc￿trIbU￿.QQS to this sch•m8. TheTPS is an unlunded MU￿eM￿OyWdeflned benefts pension scheme govemed byThe TeacheTS' Pensions Régulations 2020 las amended) and The Teachers. Pension Scheme ReguLgtions 2014 {as amended). Members contribute on a 'pay as you go. ba*s with contribulions from members and the employer being r8diled to the Exchequer. Rebrement and othef pension benefit5 are paid by public funds provided by Partiam8nt The ernployer contribution rate i8 set by the Secretary of State lokn¥ing scheme valuations undertaken by the Government Actuarys Department. The most recent actuanal valuab.on of the TPS vras PrePa￿d as al 31 March 2016 and the valuation report. whtch was published in March 2019. confirmed that the employei nlribubon rate for the TPS wouhd increase from 16 to 23.6% from 1 September 2019. Employers are also rgquired to pay a scheme administration levy of 0.08% giving a total employer Contribution rale of 23.68%. 30

RYDE SCHOOL P40TES TO THE ACCOUNTS (continued) FOR THE YEAR ENOED 31ST AUGUST 2022 The 31 March 2016 ValuatA￿ Report was p￿pared in accordance with the benefits set OLrt in the ￿heme regulations and under approach spgcified in Ihe Dwecb"ons, as they applled at 5 March 2019. However, the assumptron$ ￿Te considered and set by the Deparbment for Education prw lo the ruling in the 'McCloudlSargeant case.. This case has required the C￿rtS to consider cases regardirs the implem¢nlatK)n of the 2015 reforms to Public SetvKe Pengons induding Ihe Teachers. Pen5i0ns. On 27 June 2019 Ihe Supreme Court denied the govemment permission to appeal the Court of Appeal's judgment that transitional provi8￿￿$ introduced to the relormed pen￿On schemes In 2015 gave rise lo unlavhul age ¢jI￿riMina￿.0n. The go¥emment is respe¢b'ng the Courfs dety">on and has sard rt Mll engage fully wtth the Employmenl Tribunal as well as employer and member representstives to ag￿e how the discrimination5 will be remedied. A consullalN)n was launched by the Govemment on 16 July 2020. arnl closed lo responses ort 11 Qclober 2020. The TPS is subject to a cost cap mechanisrn whKh wa5 Put in pkqce to protect tsxpayers againsl unforeseen changes in seheme CQSIS. Chief Secretsry to the TreasLbry. hawng in 2018 aftnour￿d that there would be a review of this cost cap me¢haniwn. in January 2019 announced a pause to the cost cap mechanism foll¢￿ing Ihe Court of Appeal's ruling in the Mccloydlsargeant case and until there is certainty about the value of pensions lo employees from Apnl 2015 onwards. The pause was lifted in July 2020 and the Govemment 15 preparin9 to complete the cost (¥)ntr￿ ekment of the 2016 valuaknns. which is expected to be ￿Mpth￿ in 2021_ In view of the above ru14ngs aThl deu"sions Ihe assump￿￿$ used in the 31 March 2016 Actuarial Valuation may become inappropriate. In thi5 scenario. a valuation prepared in accordance with the revised benefits and suitably revised assumptions woukj ytekl drflerert results than those contained in the Actuanal Valuation. Until a remedy lo the dis¢riminab"on conclusion has been delemiined by the Empbyment Tribunal rt is not ssible lo conclud&on any finanaal impact orfuture changes lo the contribuknn rates of the TPS. Accordingly, no provision for any additional past benefft pensKNI CA)sts is included in Ihese finanoal statements. During the prK* year. the Sch￿1 agreeil with all leachers are memter5 of TPS that the School will cease its participation in TPS as of 31 August 2022 and it has a9reed that it will run. and make contribLrtions lo, a defined conlribub"(M s¢heme administered by the Aviva Pension Trust fof Independent Schools {'APTIS°I. Certain teachers opted to I￿n APTIS during the year during whth the School rnade Contrib￿.on5 of £85,516. 12021. 13.572) The School a150 runs a scheme for its ThJn-texhing 51aff. Twhith is a defined contributions schem•. The cost for the year represents the School's ¢ontn"butions to that scheme of £92.271 {2021." £88.448). 20. Commi¢nwit wid¢ropeTating lea As at 31 August 2022 the chanty had minimum Iwe payffwts under nonaneellatjle operatsng leases a5 set out below. 2022 Fumlthre, •quiprnent aThl ma¢hlnery 2021 Fumlture, ¢quipment and machlnery 20 Motor Vehicles Motor Vehicles Operats"ng leas9s which expire.. Within one year In lo five years 31.894 4.813 56.179 55,648 31.894 36,708 28,450 45.680 36.707 111.827 68,602 74.130 31

RYDE SCHOOL NOTES TO THE ACCOUNTS (¢ontinu•dl FOR THE YEAR ENDED 31ST AUGUST 2022 22. Reconclllatlon of Not Movemert In Funds to Not Cash Inllaw fri)m Operatlons 2022 2021 Net movement in lunds Deprecaalion Gharges LossesllGainsl on investments (Gains) on investment propety (Ga￿$) on interest rate I￿ge Dividends. interest and rents from investments {Incre8sel in stock (Increase) Sn debtors Oecrease in creditors 4.968.417 781.665 186.429 12.750,194) 1924.716) 1451.082) {5,493) 1209.143} 143.248 832,909 682.736 1357,321) (12,7551 134,695 (1,198) 167.986) 613,618 Nel ￿$h pro￿￿ed by opgrating xtNibes. 1,739.131 1,824,698 Analysls of ¢ash and cash •quival•nts 2022 2021 Cash at bonk and in hand Cash hekl as part of investment pprtfolio 317.180 35,161 274.578 270,180 Total cash and ugh •quiv•l•nts 352.341 $44,758 23. Reconciliation of Net D•bt Seplember 2021 rooo 274,578 270. 180 16.634.070) (147,1231 Other non cash changes £'ooo 31 August 2022 rooo 317,180 35.161 {6,092,1121 777.S93 Cash Ilows rooo 42.602 (235,0191 541.958 Cash al bank and in hand Cash al inveslmenl manager Bank Loans Inte￿st rale hedge 924,716 924 716 4 962 178 32

RYDE SCHOOL NOTES.TO THE ACCOUNTS (continued} FOR THE YEAR ENDED 31ST AUGUST 2022 24. Statsment of Flnanclal Acllvllles for the year ¢ndod 31•¢August 2021 General Fund Designated Restricted Funds Funds Total 2021 In¢om• from: Donations Charitable activrties.. Fees receivable Other educational ￿cOMe Other trading acbvities Inveslmenis Other Incorne 74.590. 74.SgM) 9.010.853 180,426 38.887 9.010.653 180.426 38.887 134.695 97.598 134.695 97.598 Tolal income 9.327.764 134.695 74.590 9.537.049 Expenditurè on: Raising fvnds Charitsble xlivilies 8.548 9.050.859 18,969 9.(E9,828 Totsl •xpendiiuro. 9.050,859 8,548 18.969 9.078,376 Net income before gains investments 276.905 126,147 55,621 458.673 Net gains on investments and sale of assets 16.916 357.320 374,236 Net income 293.821 483.467 55.621 832,909 Tr•nsfern between lunds 112,859 (112,859) Net movem•nt in funds for lh¢ year 370,608 55,621 832,909 Recon¢lllation of funds": Total fvnds tY¢YJght fward 11.9L*.428 3.892.335 91.472 15.890.235 Totsl funds Garried fonvard 12.313.108 4.262.943 147,093 16,723.144 33