The Kings ,School 11, Cantcrbury THE GOVERNORS, THE HEAD MASTER & THE LOWER MASTER OF THE KING'S SCHOOL OF THE CATHEDRAL CHURCH OF CANTERBURY IN THE CITY OF CANTERBURY ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 August 2020 Registered Charlty Number 307942 THE KING'S SCHOOL, CANTERBURY Annual Report and Finattcial Statements cowrENTS Pages Governorg, o￿l¢ern, Committees and Professional Adviserg The Annual Report of the Governing Body for year ended 31 August 2020 Independent Auditor s Report to the Govcrno Consolidated Statemcnt of FAnanLial Activitie8 4-20 21-22 23 SL.hool Statement of Financial Activities 24 Balance Sheets 25 Consolidated Ca9h Flow Statement 26 Noteg to the Financial Statementg for the year ended 31 Augujt 2020 Prior year Conjolidated Statcment of Financial Activitics Prior year School Statement ofFinancial Activities 27-44 45 46 Page I Registered Charity Nutnbcr 307942 THE KINGS SCHOOL, CANTERBURY Legal and Administrative Details The full name of the Charity 1$ The Governors, The Head Master & The Lower Master OF the King's khool of the Lathedral Lhurth ol. Canterbury in Lity of Canterbury.. It is referred to throughout these accounts ab 'The King's School, Canterbury.. GovcrDof8 Dean & ReyidentlaTy Canons of Canterbury (Ex-officio) The Very Reverend Dr R A Willis DL DCL DD Ichairman) The Vcncrablc J Kelly-moore BA LLB BD The Rtvertnd Canon T Nai9h MA PhD The ReverL'nd Canun E Pennington BA MA DPhil The Reverend Canon A P Dodd BE￿ BTh 'oined Sept 201 oiriceY8 ofthe School Headmaster P l M Robcrts E4 MA Burxar and Cl¢rk to the Governors M K'l aylor l.$q I".RSA Seninr D¢puly Hiad (Luwer Mayter) Mrs k A WtsrthinRLOD MA Deputy Head (Academic) l. G Barileii E4 BA MRSC Ap￿inted by the Dean & Chapter or Canterbury R (' A Ba8lt.y Etq LLB Dcputy Head {PaJtTrral) Mix*'l' It¢ 14A Nominated by Trinity Collegc, Oxford VaL7nt Deputy Head (Co-CuvriLular) Ilolned Sept .191 C, A I luntcr 14 rs1 ng Ni)minati.d by Corpul Chriiti Colle8eJ Cambridge Dr M l. SuthL'rland I".Iq IIIL. MSC PhD Co•tsPted Mrj F. McKe.ndrlr.k BA Lyon¥ Esq InK%I MA (Vicc Chairman) {It.ft july '201 DLpu¢y Hcacl (Admi5Jions and Marketing) I S MacF.wrn F%4 MA Head ofthe Junlor King'b SLhool Mrj E KAr(>lyi MA Sir Rnger Dp Ha4n I l)-I'eThnani Esq MRIC.S M W S Rax InKSI I'.RICS l)*me F l Judd11)K41 Q(: T M Siee.l F.4 MA I)l. Ilert luly '201 Mri C Iwlre MA Dip.(:on% BA B R K Mr¢LLnLI¥ Canterbury Kent LI'I 2E Dr H Hu¥hr.5 0Br. FRC.GP Ooined Scpt'201 Mr O Koladc B.L'ng MBA HonLLD O'olncd *.pi'20) CoVernnr￿. Suh_CnmmittLCS FinanLe & General Purpose8 Committec 8 R K Moorhcad 1..5q l)1. Ichairtnan ofthis Sub- Commillee frotn November .191 N S Lyons E4 IOKS) MA {Chairman olthi$ Sub-comjnlttee until Novcmbcr '191 IleFt July '201 The Very Rcvercnd Dr R A Willis DL DCL DD Sir Roger De Haan R C A Bagley Esq LLB T M Steel Esq MA DL Il¢ft july '20} Count Bcnoit dc Vjiry d'Avaucourt O"Dlncd Aug EBtateN Committee J D Tennant l..sq MIIIC5 (Chairman of th15 Stsb- ('ommitttrc N S l.yon¥ I'.4 (OKS) MA Ileftjuly '201 Slr Rogcr l)c I laan R C A Bagley Eyq LLB M W S Bax (OKS) FRICS Governance and Nomit)ationa Cotnmittcc The Vtry Reverend l)r R A Willis DI. l)CL. I)D {Chairtnan of thi5 Sub-committccl N S Lyons IOKSI MA (Left july '2U) J D Tennant E59 MRICS R C A Bagley E59 LLB Mr5 C Swire MA Dip.Cons BA The Venerable J Kelly-moore BA LLB BD 19) The Rcv¢rend Canon A P Dodd BEng BTh oined Sept 201 Mr O Koiade B.Eng.MBA HonLLD Q"oined Sept'201 Re8lStered Charity Number 307942 THE KING'S SCHOOL, CANTI..RBURY al and Admini9trative Details The Junior King s Sch￿1 Committee 'I'hc Vcry Reverend Dr R A Willis l)L DI'L DO Ichairmall ofthis Sub-C.ommitt¢e) RCA kl%ley 141,l.B Mrs C Swirc MA I)ip.Con5 BA B R K moorhe.ad l.'sq l)1. The. Rcvcrcnd Canon E Pennington BA MA DPhil Risk Management Committee R I: A Baglcy 1-.4 1.L.B l(.'hairman <>Fthig Syb-commltteel l)amc l.. J ludd i()KSl QC. 'I'hc Rc¥err.nd CAnnn'l' Naish MA PhD liniThcd lunc '201 Investment Committee T M Sitrl I'4 I)L l(:hairman oFthis Sub-Lommiitrel Louni Be.noit dc Vitry d'Avaurourt IC.hairman c>fthis Suh.C.ommittec from 4ept '20) 'I'ht vt.ry KLvcrend l)r R A Willis Dl. l)C.l. l)i) N % Ly¢in.4 1.'sq IOK%) MA Ilefi july '201 Governors Sub-cumrnlttoes (continuod) Audit Cummittce 'I'hc Vcry ReYeTend Dr R A Willis DL DCL DD Ichairman ol this Sub.Commilleell N S l.yons E59 IOKSI MA (Vict Chèirman) Ileft july '20) I. M Stecl ['-4 MA DL (left luly '201 I'hc Revcrend C,anon A P Dodd BEThA BTh Cuunt IIL'noit de Vitry d'Av4u£K)urt (joined sepi 201 Joint Paitoral Liai#¢)n Committee ini'luding Boarding I l)'I'Lnnant 1..4 Mi Rll.. R (' A IlaKIL'y l..¥q 1.1.11 Ilrfi tkt 19} mr￿ l.. M(.Ki'ndri¢.k 11 1)4mt F I ludd InK%I QC ISafe.guarding Pr¢)F¢5yional Advi#er¥ t¢J the SLhoul SolLCltor Iloys ond Maughan 57 QuL'Ln Strect [lan)￿gate Keni C.'I'l 191'.1 Bankèry Harclays Plr. tirtvtrrnL)r C Swlre MA Dip.C.()nF IIA tioined Dec HaThking I Churchill Plarv. Bond Dli..kinxon I Whiivhall RivL'f8idc IKcds ISI 48N Jnint AiadL&mic Committee. ¢>l'Govcrnora & Stair l)r M l. %uthi'rland l..yq Il%i' M%( Phl) I(.￿1r￿an vl'ihij Sub-C'.Dmmilli'.vl Mrs È. MtKendrii"k HA 'I'he Rrvrr('nd C.anon'l' Naith MA Phl) 'l-hr Il¢vcre.nd (.'anr>n l.. PL'nnin8ton BA MA Audlti)rx Vealc Wasbrough Vi7Ard Narrow Qiiay Hous Narriiw Qiiay Guildlord SurTey GUI JDI. 4hulmAn% IU Wrllinxl()n PlaL Invcstrncnt Manag¢rJ Joint Intcrnational Cq)mmittcc or Govcrnors & Sta S l.yTrn5 I.5q (OKS) MA IC,hairman olthi5 Sub-C.ommitteel (left july .201 Thv. Vrry Kcvcrcnd l)r R A Willis l)I, DCI. I)D The Vcncrablc l Kelly-moore IIA LLII BD 8ara%in & l>arinrr3 Ll.P 100 St Ilaul s I'.huri.hyard Jndvtb I.SI *AP 'lorgue LAW l.IP 2 Maple H()u¥ Northminsler Buiines i..r.4M 811U [Jp￿r Poppleton York Y026 6QW Joint Foundation Committcc or Governor¥ & Sta S Lyon$ E59 IOKSI MA (Chairmall olthis Sub.Comm1tt¢t) (lelt july '201 T M Sieel E4 LMA D (left july .201 Mr W KolAdL B.EJJg MBA DL Oolned Sept'201 Page 3 Reeistered Charity Nurnbcr 307942 THE KING'S SCHOOL CANTERBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 31 AUGUST 2020 ILgal Definition: 'Ibe lull name OE the Chariiy is"-I'he Governur¥. The Head Master & The Lower Ma¥ter vf the King'¥ SLhool uf the Cathedral Church of Canlerbury in the City of Canlerbury. Throughout this Report and the subsequrnt Financial Statements and accounts it is referred tts as The King's School, Canterbury" and a$ 'The School, in the Annual Repurt. The G()verning Body> which is fomed oftht 'l'ru¥tees oFihc Charily, preserLtS thi5 Annual Reporl prepared urlder the Charitics Art 2011 (the Act) and the Chariiy (AccoutLL$ and Reports) Regulation% 2008. togcihe.r wilh the audited Financial %iatements For the year ('.tLded 31 Auwt 2020, and confirm that the latt¢r comply with the requirements of the Act, the King's Schuul, Lanierbury's Royal Lharter, applicable accounting %tandard& irl the United Kingdom (UK Generally A¢Lepted Accounling Praciice) and the Charitiey SORP (I.'RS102). The King'¥ School, L'anterbury, whose origin¥ Plnd their ro()l% in the tnonaytjL school founded by St Augustine, %uh%L4ULnt to hL'S mis.%ion L)r 597 A.1). wa$ re-fi)unded by Hcnry Vlll in l 541 A.r). As well as bL'ing r¢gulatLd by the C;harilio5 ALt {Regigtercd Charilyi number 307942), it i¥ in1-.U￿urated by Royal Charter daled 8, Iuly 1946 atld amended by a Supplemental Royal Charler dated 4, February 1992. 'I'FLe King'% SLhool, CanlLrbury i¥ made up ol King 3 the Senior School, 'Junior King'g, thc Prep School. 'ThL. Juninr King's Pre-Prcp> thc. PrL-Prvp SL'huol and ihL, International College. .1 i)geth¢r, they provide a cu- cdueaiional huarding and day education for children and young people Irom 3-1 il year¥ and thig 1$ the principal actiyily ol, tho Lharity. Corporatc Governance Corporate Governance 15 achicvcd by delogation rjf some nlthL (Jovernory, work ir) Suh.L()mmilli'.L% (()utlin¢d on pagc8 2-3). ThesL Sub.CotnmiltLes Lumpri¥c ai leagt two numinated Governi)r￿ with SLhool ()ffiLLfs in attendancc, ai apprupriale. .1 li18 en%urLli that btrategic planninglkey areas of Govtrnan¢L and rnattcrx arL¥Lng Irom mcclings find prompi L￿n￿lderatIon. The Suh-Lommittees which mei required during the ye3r are a5 follows.. Finance & General Purpoye8 Committee ihi8 C()mmittee met threc timL'% this year and i¥ re¥pon¥ible fur reviewing and monilnring $tratugiL finanLial policy and information. It also rLcommend¥ any apprupriate action to the full bLMrd OF Governors. Investment Committee this Committee is set up to receive quarterly and additional ad hoc rcport5 from the Investment ManagLr% and to keep their performance under rcvicw. It allo regularly reviews the %chonl' Invesimcni Policy. which dLvelops with time. 'I'he Cojnmittee met twicc during the year. Audit Committee - this Committee hold$ rcgular meetings with the external au&'tors. considers the reporls of the extorrlal auditors, cxaminc8 thc appropriatencs8 nf accounting policies and monitors the sch￿], inlernal Pmanci&l Lontrols. 'll)e Commitiec met twice during thl year. Junior King'5 School Committee- this Lommiltee ha¥ a remit to oversee, sU￿rviSe and pruvide support for the leader*hip of 'i'hc Junior and Pre-Prep Schoo15'. il three times during thL year. Governance and Nomination5 Committee thi5 Committee rccnmmends candidates for nominati()n a$ new Governors, ag well as reiiewingi training, sub.committee memher8hip and remuneration of senior stalT, lakn'ng into consideration ihe skills and exp￿rienLe required of the ts(Trv¥rning Body as a whole. It m¢l thr¢e timc% during the ycar. Page 4 Rc2l$ttred Charity Nufflber 307942 THF. KINGS SCHOOL, CANTF:RBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 31 AUGUST 2020 anagemen .ommtttee mct twice-. Lt ensures t I regu ar ris asse8¥m¢nt rcview.% ol the School's operation are undertakcn and considers the result.%, de.termining whether any Lorrective action is required. Pastoral Liaison Committee- this Committee mel tWlLe dwing the year ￿ th'scuss besi praLtiLe itl th rield nf ￿stOral carc and safcguarding, central aims of the management of both school5. Estate¥ Committee - thig Cnmmittee met thrce times this yeAr and 15 a sub.committce of the FinanLe and GLneral Purposes Committce. IL8 rcmii i¥ ts) FOLUS un five ttlain area% of operation. namely strategic. uperational, repairs, maintenance and 'green' EsiatL matler8. Joint Academic Committee of Governors and StalT- thits L()mmittee, wlll'Lh met twice t￿.9 year. was esiabli$h¢..d as a forum for disLussion ol, educati<)nal puliLy between svniur staff and Guvernors> providing any addilional support and guidance uscful fi)r the schoo15. 1.he Head Ma4ter en¥ure8 that the acAdcmic mana¥('.metLt uf the aLhuoly 15 fLnected in iho Lhi)iLL of thi5 LommillLL ¥ King'b, ]uni(?r S(..huol and IntLrnational Li)IILgL Staff membery. Deparlmenls Irom aLro¥s the schonl8 arL inviiLd in iurn lu pre¥enl to thL (*ommiltee. omml ee-t Joint International Committee of Govcrnors and Statr this CommittL'e was sel up t() LxpI(JrL and evaluate <)pt2<)n8 and opportunities lor King'8 On the irhtLrnational froni. a* WL,11 ax guid('. Ihi,. de.velopment of the King'$ School CanlL'rbury InlL'rnalional CollegL at the Canterbury Malihousc site and preparali()nli to e8Lahli$h King's Intcrnational School in ShLni.hv.n. Joint I,oundation Committee of Cvovernon and Staff thi¥ Commiiicc compri$L'$ mcmbcr% from GDvLrnDrs, SLhool ()IIiLLfy* pajl pupilf of ihL King'.4 S1..huol, Canterbury ('Old King'¥ SLholars' or '()KS'), pa¥t and present parLnis. It providei atl indLP'.ndent furum for ily members to explore the SchrJOI' dcvclopmLnl plany and fundraising projectg. Governors, SelL'Ltion, Induction and Training 'Ile Dean and Rc9idcnliary Canon8 of C'anterbury lorm part of ihi Govcrning Rody. oihcr5 arc nominalcd by the DL'an and Lhapler; l-he PrLyidLnl of'i riniiy L(Illege, Oxlord, and'llji,. Master ()f Lorpu¥ Lhristi College. Lambridge, n()minaiL l)nv (ivvern()r eaLh,. and ihcn thL G(>vernanLL LnmmiltL'L whiLh mee.ts rL'¥ularly irlenlifiLS ihi, prr)f¥%yional and peryonal skilli nLcded ii) Lomplele ihL full hL'( <)f pri)fL'h¥l()nal aptitude¥ needed for elTcclive GovLrnancc. AIILr iY)nsideration of qualilicaii()nx and expcrience, as well as consultaliijn with the scnior stsll.. if Lh(., (tuvernanLe LommitleL arc in agreemLnt, then iho nnminali(>n 18 1-.()nxidLfLd for eleLtion al the next tLrmly meeting of the Full Gf)verning Bvdy. -itse Bursar, as Clerk (JfGoverni)rs, (urni3he5 new Governors wilh all relevani briLfing documents and baLk¥r()und materials. He al80 yets up Ircqueni iraining opportunilicy and regularly $end¥ out details of AGBIS LonlerencL¥, yeminar¥ and training days. In addition. thL Governors allcndi,d a ¥PL'(.'ifi(.. dL'liili.,d Lhild proleLtion training 5e¥siun in DeLLtnber 2019. Each Sopte.mhe.rlOctobcr, as the School embark8 on a new acadcmic cycle, the CF(Trvcrnnrs me.et with the Head Master, the Head ol'the Junior SLho<>l, the Bursar and othcr appropriate Schonl Olliccrs ta review the 8tr&tegic direition and educational progress ol. lh¥ SLhoul, ab WLII a5 con&idLring the prioritisation ol. major projecls. In 21119 the Govern()r8 StralLgy Day tcink place in Septctnber.. IhL day focused on recruitmenl. Governance Sell. Rcvie.w, e.volving structurc of our cxpanding organL5ation, a5 WCII financial strategy. Organisational Management Guvernur$, oihEr than those who huld oifice ex-olFiLlO, are appointed for a term of 5 year$. Thi$ may be rencwe.d for a further term of 5 ycar%,' in cxccptinnal arcum5tanccs, this may be extended Further on the recommendation of the Cjnvernance C.nmmittee. The Governor% set the overall policy for the running of the Rc£i5tcrcd Charity Nutnber 307942 THE KING'S SCHOOL, CATr¥fERBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 31 AUGUST 2020 School in consultation with the 14ead Master. Thc Hcad Master over%ee5 the educational running and development of the Sch). The level and breadth of aLtiVLty at the .%chool arc impressive and ihL' riyks a.8%()LialLd with all activitlC8 arc minimi8ed by thorough, car(..ful planning and up-to-date risk ￿￿essmenl. 'lkne Governor8 are respun8Lble For the managemenl of the riKks laced by ihe SLhuol. Delailed Lon¥ideraliun¥ ur risk arc dclcgatcd to the Audii and to the Risk Management Lommitteey. which are assi$led by ihe Setiior Lcadcrihip Tcatn, School Commiltees and 8peeiali8t Liin8ultdnt$, as appropriatc. Risk5 arc idcniificd aDd a3se&$cd and then conlrol¥ are eèJtabli8hed throughout the ycar. A Formal rcview olthc C,harily'8 risk managemcni proces8cs 1% undertakEn un an annual basis. Internal Audit was iniroduLed in January 2006 and 15 reviewed annually by the Audit Committee Governors.. the most receni audit wa¥ November 2019. li was agreed at the November 2019 Audit committee meeting that there was not a need, at the present time, for any further internal •udtt. In addition tv this an internal audit was undertaken within thc Informatinn Technology department. The key contrf>ls uscd by thc charity inc.ludc'. Formal agcnd&i For all Committees P4e6 Re.4lStr.red C.harlty N¥mbrr 307942 THE KING'S SCHOO4 CANTERBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 31 AUGUST 2020 Detailed tenns of refcrence For all Committces Cnmprehe.nsive budgeting And management accounting Established organisational structyre and lineg of reporting Formal written policies Finz4nLial regulations, inLluding authorisation and approval levels. Thrr)ugh the ri8k management proc.eisc8 c%tahlished for the School. the Governor.8 are 8ati.8fied that the major risk8 idLntified have bLen adequately trlitigated where nece8sary. li i% rLcogniyed that %ystems can only provide reasr)nable, bul nut absolute, as¥uranLL ihai majur risk8 have bcen adequately managLd. OBJECTS, AIMS, OBJECTIVES AND ACTIVITlkS Objects ThL objerts of the Lharity arL'. Tu promote the cducaiion r)I' persons ol'boih 8exL'%: 2. To carry oul and mainiain the School.8, logLthLr with ail the lands, Socuriiies, moneys and property OF eve.ry deyLripiion real or personal vested in, or bclon¥ing t(), any trustee¥ un behalf uf the F()undali()n. Aim8 and intended impact In setting ihe Sch(Trul'¥ i)hjLLIivLS and pur&uin¥ ils gual¥, the GtsYLrnin& Body has givcn carclul constderatiL)n to th¢ charity Lommis8inn'$ general guidancL OD Publi¢ BLni..fil and, in parti('ul&r, to lis bupplcmentary Publi(.. Bcnefil ¥uidanLe on advancing edu('&tion and fee-charging. Intcrnallyi ihi. Khng'% SL.hi?i>l, Lanlerhury ha8 alway4 yuught lo ofl<'r a5 wide and diverbe an accc¥s In il% unique t,.du<'atir)n as it Lan affi>rd sii til dt). 'IknL latcr SLclion On Sch()lar¥hip¥ and Bur4arLL% ()udinL¥ ihe ¥trategy to atlract Lalenled pupil% Lo itudy and contribulc at Ihc SLh()()l. 'llJe later section, repurting ()n the parlnLrship prnjccts ihe %c'h(K>l bv.L'll inv¢)Ived in, bnth wiihin ihe c.ily of (.antL'rbury and Easi Kenl m()ri' g¢n¢rally, highl1￿￿t$ ¢hc cxlernal public commitment¥ of the SLhuol during the la8l year. 'itse lalL'f SLCtion concL'rning (:anti'rhury as a World I leritage site, the King'$ School Kecrcation Centrej public and local exhibili()nx, (..harity Fund_rai¥ing and spon80rship and use of SLhonl raLulities summari8es thL way the School'y own Lampus and planl arl put to Public Benefit. Objectivey for the year ended 31 August 2020 Academi¢ performance in Public Examinations. '111e 6as of ihe King'¥ SLhool, Canterbury aiiaincd 'A' LL'VLI thd Prc-u resulis at atL average of 87.4 % (lor 190 pupi18' entries) It A*.B gradc Icvcl. This wa5 significantly abovc the target 01. 80n/o, but it need8 tn be borne in mind that owing to IhL Sars-2-C¥nvid pandcTnic, the grades wcre awarded on ihc basis of Ccntrc As5C5scd Gradcs. FurthLrmor¢, for th¢ 145 pupil4 in thr Fifth¥, 77.20/y of ihcir I/GC%E gradLS WLfL awz4rdcd amongst the A*_A grades. l-hesr w¥re in the tup three results ever ai this level at King'b, bui thib prai¥L alsv nee(L. Ihe ¢aveat that they were bayed un Lentre A￿essed grades. N()nethele¥¥, il. one takes ihe average across the last five years of PubliL Examination result8 at King'.8, the Schn()I hL8 e.xceedLd its provisional targets oFbeing in the top quartile ol. all 8chools {81.70/0 the ave.rage grade (at A*.B) for all candidatc￿ nvcr thc1&st fivc ycar* at Prc-u and 'A' Level. 90.ovo thc avcragc gradc (at A*_B) for all eandidate5 aLfi)s% ihL last fivt years al l/(J(:%E Levelj. .Succesyful entranec to University. The King's School, Canterhury enjoyed annther 5ucce55ful year when it came to the leavers applying to top universities in the UK, in the US and in Europe. The Page 7 Registered Charitv Number 3U7942 THE KING'S SCHOO4 CANTERBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 31 AUGusf 2020 pruFe55ional and de&'Laled 5uppurt ofthe UCAS icam helped 162 out OF the 190 puplls in the year group lo gain oifers From Rus¥ell Gruup and 1994 Group UK universities. Ol'these, ten will take up places at Oxbridge. six will attend Medical School, three WILL study veterinary 5Lience and one dentistry. Ol. the 28 oihers, some will embark on worthwhile 'Gap' years, albeit with a more local and w()rk-ba8ed locu$ to their projects, owing tu the Sars-2-Cuvid pandemie.. Civcn the year group'9 4trength in the performing and vi$ual arts, fifteen will embark on Art Foundatinn Courqes, or Music Diplomas at Lonservatoires, nr train ai Drama School. The highest standard of teaching and training of 8tsff.'I'he achlevement in this area of the operation is besl illustratLd by the staffy ¢reatlVL, inn(IvalivL' and eni'clive con%lruciion ol. King Education Online in response lo thL Lhallcngc5 caused by ihc Sars-2-Lovid Lrisi%, but, in particular during the Summer 'l'erm when pupils werL %tudying frDttL h()mL in lockdown. -fhL successlul ouicome ol IhL online Luurses and le58ons wa5 the re￿u]l uf the fruitful L()mbinauon of ieachLr skill and technological acumen (and rc￿UrLe¥) frum thL ri. Department. C(Trllabnraiive teaching and iharing of rc3cJurce$ thrijugh MiLYoyoFt Team% were a feature.. gruund-br¢aking Li)ur.8eq were al8a deviqLd to inlrcJduLL Sixth Form studiLS lor ihe Fifths and preparati(Jn f¢)r Univer¥ity fvr ihL. 6a¥. DirrLrent lime- £ones around thL gli)be were ov¥rLome and there wa% a genuine 14en%L ul. the King's classroom on SLrcen. The highest Standard of pastoral care wa¥ maintained aLro¥¥ the year. de5Plte the rem<)IL nalure ol. the %ummer'l erm. PL'L'r-li5lening Lonta¢l&, Lulorial group8 and tutorials wero just as possil)lo within Ihe digital c()n(LxI, as way counselling and well-being aLtivitieJ. Earlier in the %equcnee, the overwhelmingly p()¥ilivL Ci)mplianLy and %tudi'.nt WLllar(.. In.%PLLliiTrn hy ihe Indepcndcni Schnols In$pecir)ratv (l 5-16, January, 20201 had dernon5trated that uur safeguarding> paxinral and hLalth and ¥afety systems werL robust. 'I'hc slimulaiingi qupportlVL and cnthusiastlL atmuspher¥ behind Ivarning and ¢Y)-LurriLular aLtivitics was much remarked upon by our visiting in¥peLtors. A wider range of UK prep ¥choo15 and feeder schools abrng and Idented cnhi)rL¥ i)f new pupils. at Year 9. Year l O and Sixth Furm levL.l. De%pile thc impacl nl'ihe ar¥-2-Lovid pandLmic, pupil numbers acroi8 thc three King'¥ Schools were at 1265 in september. 2020, cnmparcd to 1255 in .SeptLmber, 2019. As the impact analy818 later on in this rcport ghoiv8% the King'¥ School, CanlLrbury madt.. a vcry signilicant Lontribution to public benefit, both in the IoLal Lontext Wlth ity ￿rtnt..r group uf primary schools, bul also to thL regit>n thr<)ugh ils supporl lor ihe East Keni Schoo15 Together cluster. Every .Saiurday during term time. science experiments and projeLt¥ werv dclivered io Year S primary school childrLtL. 'I'he 'Sounding Out, project wkn'Lh i¥ a new initiative un ihc samc lincs, but in thc Lontext ofmusic, had a gnad year. King'8 pupils were engaged in an impre85iYe range of volunteering prngrammcs within the Lity of Canterbury. Fund.raising for chdrities, dear tn thc. hcart8 of thc pupd8, wa5 CXtcn8ivc. King's pupils sang and played music at a very high standard to members of thc public, a5 well as perlorming lo help local charilies. 'l&e Internaiional C'ollege begarh to get involved in these public benefAt initiatives during the year. The wider educational links of the King's School Canterbury was demr)nytrated by the activc links, mLelings and joint projeLts with thL King'5 InLLrnatiunal SL-hool in Shcnthcn. The King'5 School, Canterbury Foundation continued to raise significani funds towards Lapital projects, as well as incrca5ing thc availablc funds io help talented puplls without the financial mLanb to benefit from a King's education. Page 8 Re£i5tercd Charity Nufflixr 307942 THk KINGS SCHOOL, CANTERBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR tNDE,D 31 AUGUST 2020 The King's School, Canterbury continued to push on with its Masterplan. The highlight this yLar was when Joanna Lll￿]ey came Lo open the magniliceni MalthousL theatre on Saturday. 16 November, 2019. Despite the context of the Sar8-2-Covid pandemic the King s School, Canterbury cuntinued to show its ereatiye and performing ieJt by the success ofthe fir8t ever Virtually King g Weeky an onlinL' version of thL long-standing le%iiYal ulthe arts at the end of the academie year. I'he ch()sen Lharilable beneliciary uf thc week wa% Farms I￿r City Children, the in$piratii)nal <..duLational and countryside chariiy Founded hy MichaLI and Clarc Morpurgo. As part of the Cathedral Foundation the King'8 School, Canterbury continued to worship) sing sacred music and pray within Canterbury Cathedral. The School's ethos and rhythm5 Still follow the Cathedral'g pattern. ThL International College it8 pupils and stalT moved to their permanent home on the Malthouse gite at Easter, 2019 $0 this academic cycle represented the first year in their stalc-of_the-att student accommodation and teaching 8pace8, Jet within a traditional quad dcsign. They havL made a gni)d ¥tarl nn all fron18- a¢adr.mic, paxLoral and cn-curriLular. 'l-he Year I Ix aLhicvcd mi)st promiying I/GC.%E re8ults (62.6 % ofihLir grades werL at A*_A level; 80.70/0 ai A*_Bl. Performance for the Year 'I'he K2ng'8 Sehoul, Canlorhury, by LL$ $ii.I'. and its Lhampioning ()f a broad, diver80 and rLlevant idea or education pcrli)rm¥d at vcry high levelN aLroys ihL yLar in 5pnrt, mu$ic, drama, ouid()(Jr aLtivitie.8 and hy Service in the contLXt ol. the C('F and volunteering fi>r Lharitie8 in ihe Lity nl Lanicrbury. Debatinx. charity Fund.raxsing. lecturL¥, lalks and Young Enterpri¥e gruups go alongside the mt)re lormal Lurriculum. 'I'hL' opportunitLCS arL great and the eih05 ()r ihe SLhn()I reflLcls thL aim ol, sharing une'* gifis aLross whal ix a tap¢4lry ulaLtLVlty and Lndeavtjur. FILre l()Ilow8 a summary olthL aLademie, university and other achievt'.m¢nls Irum labl year. '11JL' public Lxam r¢sulL% this yL'ar 8h()uldn'i be L()mparod unthinkinRly lo previou% years bccau8L. th(,. Centre Assesycd Grade¥ wcrL awirdod rather than cxattL3 sal. Ni) pupil¥ wcri" ai King'8 durhng the %ummv.r term and nu publiL examy WLre sat. WL ran a rigorous and 5lrir.I proc.ess of L()nAid¢ring the C'AGli. aLLI)rding ID thL ()Fqual guidLline8 in order tD Ininimise the gradr. inllaiion natiorlally. We were mvderaied down by 23U/ overall at A level compared wilh 39 % nali<)nally which demunslraie% thi¥ clearly and so whcn the CAG8 were rcinstaled. we were nol as inllated as the national average. Noncthele88 It was the beyt A level resulL% year ever. "I'he 190 (179 in 2018-19) Year l J LeaYcr5 luuk 626 (592) A levels and Pre-U8, an avcrage of 3.3 each {3. 3) with 290/0 achieving A* equivalent grades (up Erom 20% in 2019), against a national avcragc olbclow l 00/0. One pupil ackn'eved six A* grades and a lurthcr tiine achieved Fnur A* gradc.3 at A level (four in 2019) with 12 more achieving thr¥e A* grade5. 86 {58 in 2019) achieved three A grades, at Ita5t. Of the 190 leavers negotiating a tumultuou.8 double results day, at the time ofwriting 162 pupils have been placed at Russcll Group and 1994 Group UK Unive.rsitics, wtth Exetcr and E.dinburgh proving parlicular lavourites, and much competition for UC.L and K("L plates following thc rL5ulis U-lurn, largely resolving po.%itive.ly for Kitig'4 pupils. All 10 Oxbridge offers were met {Y at cambridge, l at Oxford). with must vFthe Mcdics and Vets meeting their olYer5, despite s()me initial alarm on ihe flryt releabe ol. rcsults. Leavers are Page 9 Registered Charity Number 307942 THI KING'S SCHOOL, CANTERBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 31 AUGUST 2020 continuing to receive support For gap-year reapplications where necessary? or fir5t-time applicatior15 to a range of institution5, conservatoire5, arl and drama schools. l-he Year I I results were thc hest in Piye years* particularly at the top end with the highebt ever A* equivalent numbers- 56Q/o, the First time over 500/0 of gr2d¢s wcre at ihat level {A*, grade 9 and grade 8 werc counied) although this IS to a small exteni because the grad¥ Ll has slighdy lower grade boundaries than the old A* grade. 280/0 ol'grades were the top, grade 9 Lnd the A*_B Q/0 was over 9(P/o again (not a school record, though). "rhe main performing high]ighLs oFthe year were the Aulumn'l'erm Lhamber Orchestra ConcerL with piano uloisl, thL Chri%lmas C&()llL￿rt atld TLumero￿8 8mallcr enyemble, quartet. 8010 and chuir work. ThL high quality of 8inging. dancing and actin¥ al the School wa5 shown by (hc vibrant performance of 'the Liltle Shop of Hi)rriir$' mu¥i<'al in tht. Malthuuse thLairc. Even ihe nMLt (If the Pandemic did not %t()p the SLhool ¥ panache when it Lomey tu performinK on stage. Junior King'8 School Junir)r King'% prnvidL¥ an all.ruund cducalinn, where aLidLmiL and ¥xtra-Lurri¢ular ai'.tiviti¥¥ and individual pupil talents are nurtured and developed, in o caring, kind and Suppurtive en￿ronment. Kindness, along with our values of resilience, respect, rLadines¥ and re¥pun¥ibility are central to our cthoy. La8t year w&* one of ihe mD%t Lventful ycar5 on record. 'I'he acadL'miL yLar 8larled well with celebrali()n% of ()ur 911 AnnivLirxary> marked wilh 1921k. IhLmLd e.VLnl¥ and tree planting around the gruunds, and a Larou¥L.I lor thc communily in front (IF the Manor House. iAS( January. WL ¥U¢l￿¥SfulIY P￿￿ed ihL I%[ RLgulatvry L()mplianLI.. InypeLtion. A team of three carriL.d out a rigorous 5LTUtiny of our pvliLies, 5tandard8 and evidence. The Lent Term is alway¥ a busy nn(.. for recruitment and ay5C5tTrmcnl8 ofall prospcrtive pupils. 'Ihc Icrm came to an abrupt end with the clD¥ure uf all 5Lhools causcd hy ihc pandLmi('. 'I'hc maj()riiy ol. our pupils wcre. able to get balk ta their home countriL¥ in MarLh, but a ILW rcmaincd wilh Guardj'ans in thc UK. MOSL ol. our supporl slall. and'i'Laching Ab¥istant8 wcfL I'url()ughLd. ALademically, Junior King's continuL¥ to be Yery yuccLsslul. Common Enirance exam$ wLre C￿Lelled last lerm due lo the Cnvid.19 pandemLL whcn all ichool¥ werc el(?5Ld. HowevLr, our Year Eighi pupili WLfL ¥ULce38ful in gaining entry to all their Lhosen senior Schools. Some of our pupils wcre awarded a range ol. Lholar¥hipy to King'$. At the end nFterm, the majority of our largv cohort of Ycar Eights progreyscd on to The King'x School For Ycar NinL,/shell. We havc devcloped plan$ in ihe way we leach our Ycar 8, 13+ acadLmiL s¢hularyh2p candidates from next yLar, impruving their Pinal year experi¢nLe at Junior King's. In addiiion. WL were delighied with the A t￿y¢l xuiiessey ul. our furtner Juniur King's pupils this ¥ummer. When the SLhool ¢lo¥ed in March and the c'uuntry went into lockdown, we muvLd straight to our Juniur King'8 EduLation Online. ()ur aim ihroughout the ¥ummer term was to provide t￿mPr¥h6n81Ve Lontsnuity OF cducation for all the pupilq. This was a mammr)th talk for thc %taff tn adapt to, overnight, and with very little/no time for Iraining. Through()ut the term, every core Ic55on was conducted live, with rccordings madc for pupils unable to access the les8on dur t[) time diITrr¥nLes acro$s the wvrld. Wv kept all aspect.$ of our curriculum going each week and the children retained the breadth ol. learning. We ensured that vur ¥trong sense ul. 5Lhovl community spiril and ethvs wab maintained, thr()ugh our soLial media posts and we¥k]y ncwslctter to the community. and our linal 8pcech day. reputation For our excellent online e.ducation wa8 clearly evident locally. and most pleasingly. some new pupils joined our school as a result. There were additional challcrlgcs that this brought us.. the majority of statf were teackn'ng from home, while a leam of stslF carried nut their teacknng otLline while also supervising the keyworker and critical workers, children in School. Page 10 Re21Stered Charily Number.307942 THE KING'S SCHOO4 CANTERBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED JI AUGUST 2020 These children were in sLhool every day from 19, March ihr(iugh Lo I" July and were joined lor the summ¥r lerm with Lhildren in Nursery, Reception, Year One and Yuar Six. Thi& allowed us to haYe.%afely measures and risk a￿eSSments written and therLfore a good step ahead in preparation for re()pening the School in restrirted circwx8tancc8 in.September. Our ncw Humanities curriculum for YeAr Seven and Year Eight has now replaced the traditional knowledge- bastd C()mmon Entrance approach. c.ontinued cts-tsrdination between our He.ads ol t)epartment and iho¥v. at The King's School iakc% place. I'he now and exciiing curriLulum ha& movcd iu a more skills-based focus, at)d a8$es$mtttLt i¥ m(IrL frequent. We have moved from ihL. dependtDLe on learning a knowledge-based syllabu ex&min¢d in a une-off final exam to pupils using the knowlLdge to dLVL,It)p &peLLIic skills, and thLrLfure gaining a deeper undL,r￿tandln￿ L)f the subjLLt studiLd. Pupils are developing their ¥kills of rLsoarch, analy%is and crealivity, and will have opporiunitie& t() form their own argurncnt8 in their writing, in debates, and through prc%Lntation8. -1'hc8c.qkillR are particularly hLlpful as the pupilg pr(Igre$s to seninr %Lhnol and on to GLSli.s. In the Crcalive Arts subjects, wc Lnnlinue to achiovo exLLPtinnally well. W¢, have dLveloped a %lr()ng cummunily link with the sludent% from Chrisi ChurLh lJniver5ily on wark plaLemLnt$ and LXPLricn('v. itl all 4spvLts ol. Ihcatrc. nur %uperb Middle %(..huul musical pr()duLlion ul. Pcter Pan l()rtunatLly took place ju8l belorc ihL SLhr)f)I i.-losed. Our Lamda and SpcLch and Drattla exam rcsulis L()ntinue to l)e i)uLslanding and twu ol. our YLar 14 pupils werc ollirL,d 13+ drama exhibition¥ to King's. WL have devLlopcd ihL ILI..hn()l()gy ¥ide ol, theatrL and havc bLLn training pupil¥ ti) develop their skill.¥ in stage managemLnl and lighting, in parlicular. DanLc h&¥ gr()wn in importance and two ol. our pupil¥ WLre awardcd 13+ DanLe Scholarship% In King'8. Art i¥ a great Nlrcn¥ih and pupils dcv(..l(Trp experience ()fa range uf media. Much of the thLmcd work is Lri)￿- turriLular in approach, wilh the Art '] eacher Wf?rking Llosely wilh ¥ubje¢t Head% ofDvpartmcnt and lorm ILa(..her5 Ln Junior HouJc and Midcue Schi)(Il. A yimilar appruaLh happen¥ in De$ign TeLhnolo&y. 'l-hreL nur pupils wcrc nllcrcd plaLes on ihe 13+ Art ExLLllcncL Pr()gramme at 'l'hc Kin&y'% School. A Dcsign'l'LLkn()logy Lh(Jlaryhipi an b.xhibiii()n and an I lonnrary Dl. Exhibition were awarded io thrLL (jr (jur Year 8y. All the othLr D'l. Landidaies were a%kLd to join ihe Ex(x..IlenLe Group. The numhL'r ()fMu%iL lesson8 coniinues to rise wilh a r('.L()rd number of individual in8lrumLtital IL'SYI)n.% being laught (L. 350 le$&c)n¥ per wcck) frotn 28 vi8iting mu%iL litaff. wc al80 t)IFLr¢d theory mu#i(.. ItYbnn8 ihi5 year and our Ln8emble$ havc increa¥cd to 18 diifercni groupt*. Music fnr PrL-Prrp children alsr) continues to be popular with a number of children having mu.8ic Ii'%M)ns at an earlier agL' in the music.4Lh(i(>l. A number uf VL8iting profe%si()nal musiLian% vi$itLd to givL inspiring workshops. ()ur 90, AnnivL'r¥ary LonL¢rt, LalLndared Fi)r the L'nd ol. Ihe Lenl'l'erm was canÉ'LIILd, as werL our musiLal evetlty in the 8ummer tLrm, howcver WL werL delighttd thac lour of our talented mu%ii'ians werL' aTrvarded 13+ ¥cholar8hip.% li) King's. Junior King's teams Lnjoycd much sporting 8UL('e.¥% at local home and away lixtures ￿ well as at IAPS national level lor thL' twi) terms ol. the school year. ()ur boys hid a partiLularly succc.55Ful two tcrm% in rugby and lontball and our Ul 3 team maintained an unbeatcn season in both *port5. Fenang popularity continues lo grow, and thc addition olgir15 crickct has been an excellent additicTrn to our sporiing olTering. Unforlunately, our kcy %porting events- aihletlL$, swimming gala¥ atld 8porls day5 were all Lancelled. However, we were dclighiLd that two ol. our pupils won 13+ Sporl¥ ¥LhularsEu'ps, another won an exhibitiun, and two w¥rL chos¢n For tELe Sport Excellence Programme li King's. Our pastoral care is outstsn&'ng and cenlral io uur provision. We fullow a LILar paslora] structure with lorm teachers, head¥ ol'year and seLliun hLad5, atld boarding stall.. d)e Deputy Head (Pastoral Care, SaFcguarding and Buarding), Is wcll as the Chaplain, Seniar Nurse and a coun5ellor, who work8 at the School for iwo day. RcEiYteTcd Charity Niimber 307942 THE KING'S SCHOO4 CANTERBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 31 AUGUST 2020 week. We have an excellent PSHE programme in place and run Mental Health work5hop5 for pupi15, StaiTand parents. Counselling i% very important and we have thi5 provision for Iwo days a week. The Scho(bl Council> prefects and mtsnitnr5 Strengthen rclationships and represent pupils, views and committees to enable pupils, views to be heard. We are alway5 aware of our competition, our fee levels and the need to attract rnore day pupi15 to our S￿001 in a volatile market. and we market and prumote Junior King'$ on our $OLial mcdia platformy rvguiarly. We have a new ilnproved Chronicle magaLine too this year. OvLr the summer holidays, ()ur Maintenance'l'eam developed a new temporary extra health centre in the yports hail io caler for our pupils who become ill during the day. to prevent children entLring the boarding floor, where our hL'IIth Lyntre was situatcd. Lunger term, a ￿rManent hcalih centre in the ground8 will need to be LX)nsidercd carelully. I'he Swan Inn has been reLunfigured to become an isolation £nne, Should anyone have symptom% uf Covid.19. Work UTL improvements to our buildings and developmeni ha¥ been halted due to the pandemic. Additional L11￿￿ru￿rn5 arL' now required, and much.needed impri)vements to thL Manor FIou5c and io the Barn arc beLuming incrcasingly pr¢%ying prioritics. 'hrnughi)ut the year, the SLhool conlinued to raise large $um4 vf money with fundraising by 8tatTi parenty and children via variou5 activiiicg including the School Fete, Lake sales, sponsored evLnts and Friends, evcni$. W support¥d many local Lharitics, inclu&'ng Porchlighi durin¥ the year. Links Wlth the local Lommunily remain strong with a range ()f gruups u¥ing thv SL'hool'y facilitie¥. The Science diparlment mainlains ils link% with local Primary Scho()l¥ and we have donated many ilcm8 including I'l, equipment and furniturc lo ihe IoLal LomrTLunity. Recipro¢al link¥ with Sturry church continue to be exLcllcnl and we have regular jr)inl meeting8 with the Chureh and are conlinuing to dcvclop tharcd aclivilieg and community Lvents. The pupil numbers for the year 2019-20 are as follow8: 2019-20 201&19 2017-18 Total )ardetS Total )urd¢rs 675 63 Total 819 283 85 PA)arders 653 78 Senior School JunK)r SLhovl Pre-prcp International 273 277 82 23 42 42 23 (ArL% 442 Ikny5 419 CrirLs >ys 418 GrLs Boys 433 152 47 Sentor School Junior &hool Pre-prep International 430 43 19 34 37 45 12 38 Scholarships and Bursaries During the year, and in fuifiltnent of the objertive5 of the charily, the Governors made available 207 (2019- 191) Scholarship.8 and l(X) (2019: 77} means-tcstcd Bursaries, which together total £2, 108k {2019.. £2. I13k). Pagc 12 ReEi$tered Charity Number 307942 THE KING'S SCHOOL, CANTF.RBURY THE ANNUAI. REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 31 AUGUST 2020 ese were awar to ena e pupi sto ene rom ucatiun o ere atKing5W eret ere was nee or Pinanaal asqi.*tancc. At prosent. a significant proportion of Scholarships and Bursaries are funded out Df the .%chc)ol s Lwrrent inLume. In ordLr to ameliorate this. thc Govcrnnr8 have set up a Foundation Olyice to enc.ourage OKSI parents and friends uf the Schoul, to endow both Stholarship% and Bursaricy, tkn's initiativ¢ had lcd tn ih(.. Ke.nt Award8 whith bugan during 2018-19. '1'hL aim ol. IhL Kent Award is io Sirengthen our roots Kcni by providing bursary suppnrt to local families whn would otherwise nc)t be able l() atrord a King'5 education. The Governor8 keep the School's Bursary and Scholarship Awards policies under LontillUOU5 review lo help ensure that the ohjcctive of wider aLces8 continues to be achicved. Bursaries - -llJe SLhi)ul endLavours to provide an educatii)n to those pupils who will best benelit Irom the style i)f ieaLhing and the larililics Llut we have lo oflLf. Inev1￿hlY nol all parents ol'such pupils will po¥ses8 the mcans tr) fund thL %Lhi)r)I fees thal WL llL'Lessarily havc to ¢harxc. 'I'he SLh()()I dues providL mcan¥-Icsted burbaries for thL8 purpoic. In the year 2019-21120, w¥ were ahle to oller as8islan('.¢.' w()rth £1,598k (2019.. LI,406k). In additi()n ti) this dirocl a45istsn¢e with Iccs, IhL %c.huol alsn %uhsidi%('.& an¢rillary expenqes. 4ui..h sLhool trips, where parenis wuuld oiherwisc LxperienLL linanLial hardship. The King'$ Society 'Ihi. King'¥ 8uLietY ha¥ ho¥tLd a %(.'rie% ul'LdLicalional, c'ultural and %ii('ial evLalli¥ in a V¢ifiLty ul. dilTerent venui'% in thL Aijtumn and Lt'nl tt'rnis. LurrLnily 133 familiL8 arL' m¥.nibLr% ol. IhL %()('iety. Mi InbL)r.% enj(>yLd a full prii.grammt'. ()I' L'Vt.'nlb ii)Iluding a visil (O the .1 uiankhamL'.n exhihilii)n al the Saatchi Galllry, a IiTrLir (If th FrLLMa4(1n￿ Hall ond (Juildhall, a guide.d t()ur nl. Ihi.. R(iyal Fln¥pital (,'hvl%La and a walking l(iui' i)I' Hidden l.ondon. FurihLf ¢ili(..Id ihe. SoLILly l)(J%t(..d a tuur nl. Lharti'rhuuyL', 8ea%i)nal walk* and è guidLd wi(.kLnd in The King's School Dcvclopment OFfice the financial year 2019-211 Ihe King'$ %ch()i)l and luni()r Kin¥,% re¢Liwcd gift% (ini.luding Gilt Aid) nl. L2.(742m whii.h will <'nahle thL, %Llii)(Il% l() d¢liv¥r a prt)gramme ul, %ignili('anl improveinL'tils l() IhL' pa%l mi)nth old babie5 Iu SL'niur ¢itii.Lns. ReLreation CenLre Manager, Clare Reed, Says.. 'We are bombardLd wilh rE.quebts lor swimming le>sons every week. Wc are loriunaiL ti) havL a wailing li%t (Trf ovLr 300 PLcTrpl¥ whu ail wani io ILarn to bwim herc. 'I'he multi-usc qporL$ hall i)tTI'r¥ LfiLket net8, fooiball, babketball and hadminli)n', in addiiion, IhLre are four t'.nurts, two lilnes8 ronmg, a strcngih and i-.ondilioning r(ii)m, an aerobic4 studio, and multi-surlacc ILnnis courts and an all-wepdihi'.r hL)¢kLy pitch. 'I'hL Centrc offLr% Li>aLhing acroys a numb¢r of ypuris t() ihc l()Lal communily, which ha% hL,Ip¢d a number of children reach country ylandard in both Squath and Basketball. 'I'he Lare and training at ihL Rccrcaiinn CLnlrv. arL ol'a iu'gh standard and currLntly at full capLity within ihe exerciyc rcfLrral programme. Due i() IhL Lnormous SUCLL'%4 ()Fthe priigramrne and growing dcmand ihc CLnlre 111 trained inBlruLt(Jr8 with a liw mLmbery ()f the team wilh ILVLI 4 ¥pecilic qualifiLations ranginR Irom B(.'PR, CanLer, l()wer balk pain, diabelL.¥ and ubesily and mi'.nlal health i8.4ULY and m¢)st rccently Nulriiinn. The King s Schi)ul Boai Club, b&8Ld at W('.%tbere IAke, ha￿ hulited inviialinn Lvent8 and training day* wilh Incal cluh¥ yuch as Maid%(()ne, BLWI Ilridge and Ktnl lJniver$iiy wilh ai(-.e%s to ihe Kin¥'.4 equipment and rowing Charity fundraising and sponsorship In the year 2019-2020 over £18k wakn raRs(..d through collL('.li()n¥ and spccial Lvents arld this mnncy ha¥ bL'Ln dunaled ta LhuitiLs designilLd by ihE pupi15. '1'he Supp()rt Staly al¥0 nomiTLated Royal Mar.￿den a% Lharily of the Year and raiscd ovcr L6k through various fundraising ideas. Various oiher evLnts raiscd £2,882 For Kent Cancer Trust, £2,Q54 for l.ily'i Snrial Kitchen. Thcrc arc many other% thal aro done thxough thc Just Criving pagc. -l&e Macmillan Colfet Mrjrning railcd £519. Oncc a￿1￿, thc.Schonl sponsored the Canterbury Fe5tiYal with facilities and cxpcrti4c being madc availablc to thL Lvcni's organLSLrs. FINANCIAL RESULTS The King's School 'I'he year to 31 Augubi 2020 resulted in net ¢xp¥nditure relating to School activity of £850k (2018-19 net incoming resources oF£490k). This cxcludes the. nct income froTtL donatlQT15 and legacies to the School'y Foundation of £2,642k {2018-19 £2,466k). )agc 17 Kegistered Charity Nutn￿r.1ll7Y42 THE KING% SCHOO4 CAf+rrERBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 31 AUGUST 2020 The School's financial policy is tn ensure that these resources are used to provide a first class education and to create and improve the facilities avail&blc to pupils but als() tn enable these facililies to bL' %hared with the anterbury community. in pursuanLe of the Charity's objects. when not in usc by the pupils and many other U5er5. l%e income is $hown after providing academic sLholarships and hursarie$ of £2,108k (2018-19: £2,113k). During the year over £3.7m wa8 invested in buildings and Lquipment12018-19: £18.95m). The School's pruperties were rcvalued externally August 2016 in linc with the S-year cycle. King'y School Enterprise5 Limited King's School Enterprises Limited ig a 8ub$i&'ary company ofthe SLhoul. It wa¥ sel up in order tn undertake trading aciivitie5 on bchail'ol. the Schonl. utilising Schnol premises and faalitiC9 when not in u¥e by the School. All ol, the profiL4' uf the company are paid OVLr tu the School under a deed of covenant. 'he company made a net of {L90k) (2018-19.. £143k profit} due io the ei)forced restrictions scl in plaLe froJn March 20211 rcsulting in knp trading being su8pended until July and plann¢d letting5 and events bcing postponed until 2021. The King'g School (International Limited) 'I'hc King'g School (International Limited) is a ¥ubqith'ary company ofthe School. It was 8Ct up in ordcr to undcrlake trading activities on behalf uf the School in rLlatiun tu the schools ovcn8L&I aLtivitie¥. All of thc profits of ihe Lompany arL' paid over lo the SLhool undcr a dLLd of LuvenanL. -I'hc c()mpany made a net pri?fit OF £i18k (2018-19.. £Okl, whiLh wa¥ paid over In ihe School under the deed o( cnvenanl and. under thL gift aid arrangement, 15 nol subjL(.'t to tax. The net a8qcl8 nfihL ¢(Impany con5cqucnily remained aL nil. Cleary Blackfriarj Trugt 'L'hi¥ 18 a regislered 8ubsidiary chariiy ufthe School whu¥e prinLipal objccls arc.. 'llJe promotion i)Feducation at'l'he King's School, Lanterbury 2. 1.he c8labli¥hment and maintenance OF ()ne or morc"Clcary .Schularship8" for pupils ol"I'he King's School. LantLrhuryi Supporting ihL'ir creativc wnrk and trips to V181t plaLL¥ uf uutStanding arti8lic inlLrest. 3. Thc mainlenance of the Blaekfriars building 4. The promotion OF the Arts 'I'he Trust'¥ property was rcyalucd in August 2016 in line with the 5-ycar cyde. "lknis Su￿ldiarY charity had net income {Following payment Df Scholarships and Awards) of £26k {2018.19: £24k) and net &8sels of £7Ulk (2018-19.. £675k). King's School Reservey -he re.%erYes of thc charity are split between various fund5 and are described in more delail in notes 12A-C of the accounts.. EndoTrved Funds: These are funds where the (xpital elemcnt 18 considered to be permanent. The major part L>f these lund¥ i¥ the Foundation capital, whiLh Lvmprises the original cndowment ofland tn the School and ForrtL5 ihe bulk of the Scknol'¥ Freehold property. Other endowment funds COEXLprise trusts set up to provide 8cholarskn'p8 and bursaries. P%e 18 Re£i3tered Charity Number 307%2 THf. KING'S SCHOOL, CATrUERBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 31 AUGUST 2020 es ric un cie are. un lect to spcci runds is subject to tht provtsion8 set out in cach trust. 3. Unrestricted Fund8: These are funds expendablc at the di$crction of the Governors. £1 1,716k oFthese fundy have been designaled for the Bursary Fund. Bursaries are awarded annually. Regcrvcj Policy -rhe Governor5 arc (ollowing policies intended- to build up the reqerve8 available to fund bursaries (the Bursary Fund) thri)ugh fundrai%ing aTLd appea18 and to 8cek further endowmcnL8 Inr the futLdiTLg of scholar¥hips io obiain a nufflin&l gru5s yield of at least 2.50/0 on thc School's investment8 and a nominal totsl relurn ol. RPI plus 41/bo 'I'hL, SLh()()I'% IL'll-yL'ar Layh flow forecayt 8how3 thai, excluding hcjrruwing F()r major LapitZ41 wiirk%, all othLr liabililics and cnmmitmenl% arL fully matched by available lunds and thc Governnrx arc confidcni that thL SLhool'¥ overall linancial pogiiinn remains a 8tri)ng f?ne. Reserves and luiurc capithl IutLdJ'ng rLquifLm¢nts are monitored rcgularly by the GoYcrnor8 ihrough ihc FinanLe and General l)urposes Commilteo. The a¥yets and liabililies alirihulablL l(J thL variou¥ fundy by type are ¥hown in Nole 12 10 ihc Financial Siali'.menly, and Notes 12A-C deycribc thc year'4 mf)ve.mLnt4 <)ll LaLh fund. l-he GovLrnL>r¥ Lonsid¢r that eaLh nl. Ihe charily'y Fund¥ hay adequate resource¥ tL) mect IL$ individual nbligatinn9. -11]L SLh()i)I rai¥e¥ the majority ol'it8 income Lhrr)ugh the levying ()I' ILrmly luiti()n and boarding fv.i'.% and h('.nLe it i¥ not dcpcndent (unlikL many i)Iher Lharitie5) on irregular and unLerlain saurce% i>f inci)me. 'I'hcre is IhLrelore1¢$8 ()[ a rhLI.d ti> aLLwmulate significant Icvcl% ol. IrLcly availablc rcscrv('.s li) guard ag?ain%t pcriods ()I' reduced income. 'I'he Governor4 havL ¥i l an interim target of eliminating the dolicit nolional Ircely availablc rLYLrv(".y but dt) not I'onsidcr the curreni delicit io havi.. any advLfyL impaLt upon the Scho(Tr1'5 uperation3 ur (Trn ils capilal devLltspttLLnl platl. Jc trusts cc arc cir euseo ese Invcstment powers -IhLSL ar¢,. gi)vÉ'.rned by the Trustee ALt 2(K)0. 8irategtc. inve8lmLnl pi)IiLy IX %e.t by the Governor¥ in Ll)njunLtiutL With Sarasin & EJarlnLfs, Ihe School's invL'hlmL'nt managL'r¥, who then managi the inve5tm¢rhts within pr('.acrihLd guideline5 on a diycretionary basiy. 'I'he current Investmtni Pulicy 1$ to protett ihL fLal valuL ol. income and capilal whi181 xpri'.ading risk. We en¥urc ihat our invcslmenl managLr h48 Stri?ng LC)rpnratc governanLe prolocDls. voling with our 8harch()Idings and enga¥in¥ with manaxemeni ieams. when approprialc. During ihc cnur$e ofth('. yi'ar, Ihe Invebtmtnt Commiiiec mci io receivc ihc rcp()rt8 uf Sara¥in & Pariner5. In 2007 thL SLhi)ul'% yv.¥reg4t¢d portfolio was movcd inio ihL Alpha CIF r()r Enduwments InLume Units. li was fult that this wa% the mnst appropriatc and elFicient way of mcctiJ)g ihc School s inYL41mt'.nl nhjLCtivc. Specifically, the CIF li able to invc.lt &cro$s a vcry wide raTLge of asset cla55es in a wcll.divcr8ified fashion. Tho School's Sarasin inve5tment¥ produced an inLY)me rcturn lor thL yLar ul. 3.1 0/0 against thc GoYernor5 objectives (Trf at least 2.5U/¥. The Govcrnor5 remain confident thai their investment policy is prudent, in keepi￿ wlth their inve5tmenl bjcctivei and like.ly to producc attractive rcturns ovcr thc longcr tcrm. Futurc plan8 The School's plans inLlude: Page 19 RcEi5tCTed Charity Number 307942 THE KING'S SCHOO4 CANTERBURY THE ANNUAL REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 31 AUGUST 2020 l. To uphold the ethos of the School by maintaining the current ratio of boarding to &y pupils within the KitLg'8 School and Striving to fullil the School's academic and eo-CUTricuI?r aim5. 2. 1.0 build up &pit21 and Bursary funds thrO￿h the Foundation Development Committee to cnable the School io increa¥e ihe number and value OE. Yneans-tested burtwies ￿ well ￿ lo implemeni Lapilal projects. 3. To continue to improve Facilitics through a carefully monitored Capital Builth'ng programttle. 4. T() explure itlternational opportunitieg, both at home and abroad. 5. To coniinLLe to develop the Schoul s commcrciai activitie$ through the King8 Schonl Enterpriseg Ltd. These plans are kepl under regular reviLW by the Govcrnors and the Senior Marhagemenl'l'eam of the School. Statement of Governors, responsibilities Charily law requirey the Governor5 to preprL financial statcmcnts fvr eaLh f￿anc￿ year, wlll'ch give a true and fair view r)f the affairs uf the Charity and of ils finanLial aLtivilics for that pcriod. In preparing those Pinancial siaicments thL Ciuvernors are. required to.. l. Sele¢t ¥uitable accounting policies and then apply them CnTL4iStently,' 2. Make judgcm¢tLis and e5timales that are reasonable and prudent., 3. Follnw appliLable accnunting $tandard$ and ihL Charitie5 SORP, di¥clu¥ing and explaining any malerial doparture¥ in th¢ financial stalLmrnts' 4. Prcparc thL finanLial statements (Jn the going concern basis unlcss li Is inapproprlaiL to a%￿UMe that thc harity will continue in busine&8. "I'hc GovLrnurs are re¥ponsiblL for keeping aectsunting records, which are 8uLh a¥ to diyclose wit rca5unable aLcuracy aL any time the linanLial po8ition ol. the Charity and to) enable them to en8urc that the rLnanLial ytalements comply with Lhariiy law. 'IILe Governo￿ ire al￿ts r¥¥punyible for ¥aFeguarding ihe &8sct.4 of ihe Lharity and hcncc for taking rca%onahle ¥teps for the prcventir)n and deteLtiun uf fraud or other irregularitiey. 'I'he Very Revcrend Dr Robert Willis c.hairman ofthc GoverncTrrs For and on behalfof the Gi)vern¢Jrs Canterbury I" Dccember 2020 Page 20 Re2isiere.d r.harity Number 307%2 THE KING'S SCHOOL, CANTERBURY Independent Audi¢or's report to the Governors of The King's Sehool Canlerbury Opinion We have audiled ihe Financial Staienietits of'M King's School for the year ended 31 A￿gust 2020, which comprise the Crjnsnlidalcd aTtd School Sialcments of Financial Ar.riviiics, ￿- CurLS()lidated and %Lhool Balance Sheels, the Congolidated Cash Flow and the rtlat¢d not¢3, including a 8ummary of significant acc<)unting tKJlicie8. The Financial Reptsrting Framework that has been applied in their prLparation is applicable law and United Kingdom Accounting Standard%, including FiDan¢ial Re￿)rtIng Standard 102-. '1'hr Fin*nLial Reporting Siandard appknLable ITL the UK and RtpubliL of IrL.land (United Kingdnm Gcnerally AcccptLd Accuunting Praclicc). In our opinion the Financial Staienients: ve a true and fair view ul. the ¥tate ol'ihc group and parent Charily's affair8 as at 31 Augu8t 2020 and of the group'y arLd Lhdrily'y InLome and expe.ndilurL fL>r the year then ende.d. have been pri)perly prepared in aeL0rdailL￿ WIth United Kingdom GLnerally ALLept¥d ALLuunling PraLtiLY; and hav¢ bL'Ln prepared iri aLLurdanLr with Lhe requirements of the (:hariiits A¢i 2011. IlayiJ lor opinion Wc l￿ndUCted our Audit in accordancc with Inicrnational Standard8 on Auditing (UK) {ISA8 IUKI) and applicablc law. ()ur rc$p)Ii¥ibililiL$ undcr ih¢)¥L standard¥ are luriher describL,d in the Auditihr'x rel￿nsibili11¢$ for ihc Audii of ihe I'inanual 5ts1L'meni% ieLtiDn Dl'our Repurt. We are indei)Lndcnt of Lharity in aLLX)rdanL* with the eihiLal requircmcnis Lhal arr. relc¥ani io our Audit of the FLnanc.ial slatL￿)Lrl1J in tlie UK, including Ihc FRL'g Eihical Siandard, and we have fulfilled ()ur i>ther cthl'cal rcspon8Lbililie8 in acL(>rdancc wilh ih¥¥L rLquirLmLnt¥. We heli¢v¢ that thc Audit evidence wc hvc obiainrd iy yuffiLient and appropriiilL tv ￿0vide a ba¥is lor our opinion. Ci)n<..lusiony relating to guing concern Wc havL nulhing Lu rcpL)r( in re¥peLt ol. the Irthllowing maiiLf8 Ln relatinn t() wEu"ch the ISA$ (UK) rLquirL U$ tL) rLpur¢ Lu ynu whcrc.. thl Gi)vcrn()r* ule ol'ihr. goin¥ LunLLrn basi¥ ol. alL￿U￿ting in ￿. preparation ()( the FinanLiJ 8tatemr.nts iy nnl apPrvpr￿l¢. or the GDverni)r% have not di¥c.logcd in ihL l.in4ncial St4temcnl4 any id¢nliPILd maitrial unLertainiiei that may casl sixiiifiLaiii doubt dknui Cknriiy'5 abiliiy lu LK)nlinue to adc)pi Ihr g(iing concern b￿15 of aLcouniirix for d pcriod ol'ai lea8t Lwclve monthy from the datc whcn thc Financial Statementg are authorijcd Inr i18UC. Other informatiun -I'hc Gov¢rnor¥ ar¥ rL'3wnsible for the nthcr inforrndtiL)n. 'I'he other inlormaiion conJpriJe$ ihe inf()rmatiDn inLluded in thc Annual Kepnrt, nther thc FinancLal StatcmenLi and our Auditor's Rcpori thcrcon. Our opiniotL on the Financial StaleniLnt8 doLb yiol LOVLr thL other intormation and, cxcept to the ex¢cnt othcrwi8c cxplicitly ststed in our Report, we da n(It express any lorm ofa$surariLe LvnLlu%ion thereon. In connecbon with our Audit nf the Finanoal Statcmcnt4, our respr>nsihility i8 to rcad the othcr information and, in dDing SO, Lonsider whether ihe other information is materially inconsi8tcnl with thc FinanLial StstLment8 or our knowledge obiained in the Audil ¢)r L>iherwi¥e appeara to be malerially misstated. Il'we ideniily suth tnaterial in¢vnsisl¢iJLies vr apparcnt material mi¥¥tatcment% we arc reqijired its dctcrTninC whether ihere a material TniystalL'rJicrit in the FinanLial Statements or a material misgtattmtrtt of the ()ther inlormation. IF, bascd on the work we have ptrlormed, wt tondude that ihere i¥ a ma¢¢rial misytatement ol. thL'S oiher iiiftsrmatiun, we are required to report that fact. We have notknng to rcport in tkn's regard. Re4i5tercd Charity Number 307942 THE KING'S SCHOOL, CANTERBURY Independent Audltor's report to the Governor5 of The King's School Cantsrbury Matters on Ivhich we are required to report by exceptio In lighi of the knowledge and understanding of the Ciurity and it8 environment obtained in the course of tht Au(h"t. we have not identifird material misslatemenls in the Governors, Annual Report. Wc hav¢ nothing to report in re8PCCt ofthe following matters where the Charitie3 Act 2011 requir¢s us to rcport to you if, in our opinion: uETIL4ent accountlng record5 have not bccn kept. or the Financial Statements are not in agr¢¢m¢nt Wlth the accounting records and return8. or wt hav¢ not rcccivcd all the information and explan2lLOn3 w¢ requirL for uur Audit. Reypunyibilities of the Governor8 As Lxplained mi)re fully in the AccounLin¥ and Reporling StsL¢ment, the Governors are re.5pon8ible for the preparatibjeLtive¥ are tn obtain rcasonable alsurantt aboui wh¢thcr the Financial %tsicmcnls as a wholL arc frec from maicrial mi¥$ia(¥ment, whether duc to fraud ur errrjr, and iu an Auditor 4 Report [￿l indudcs our opinion. Rea¥utRhle a¥suranct 1$ 4 I￿gh Icvel o( a¥¥urancc, bui i¥ nt)t a guaranlcc thai an audii condu¢t¢d in acLL)rdanLL with ISA5 (UK) will always detect a matcri41 miy5tatement whcn it cxists. Mi%8tatements can arise Irom Iraud or error and arL considcrcd njaterial if, individually or in th￿ agsregalc, Ihcy Luuld rea¥nnahly l?e expeLted to inllucnce ihe cconomiL deLisions oFusers taken on the baxi8 r)f these Financial Statemcnts. A lurthcr dcJcripti()n r)fuur re$tN)nsibiliLie¥ fur the Auth"i ol'th¥ Finanual State¥n¢ntS 15 locatcd on thc Financial Rtporiing Counal's WLbNite at: http'.//www.frL.Drg.uk/auditorgre$punsibilitieJ. 'I'hiy deacription fnmLi Wi ofour Auditor's Report. I'￿.# RepiTrrt iy madc solely lo Cknrity's Govcrnor¥, a¥ a body, in ac£ordancc with scclion Im of tlje Cluritie8 ALt 2011 and ihc rcgulalicJn% made undtr gtclLUll 154 of that aci. our audit w<>rk ha¥ been undertaken $0 ihat WL, mighi Stsie tn thc Charily's Govcrnors tho8e matters vit are requircd Lo statc tn them in an Auditor'8 Report and for no oihcr purpD¥C. To the fullesl exlcnt pcrmitted by law, we do not accept or a¥%umc rc8ponsibility lo anyone othcr than the Charity'y Guvernors as & body, for our audit work, lor Report, or lor the opinions wt hav¢ lormed. Alliotty LLP Chartered ALruuntants Statutory Auditor Friary Court, 13-21 High Streel. Guildford, Surrey GUI 3DL Alliotts LLP Is eligible to act as Auditor in terms of section 1212 of the Companies Art 2(M)6. 14 December 2020 l)age 22 RcgiEtCTed Charity Number 307942 THE KING'S SCHOOL, CANTERBURY CONSOLIDATED STATEMEWT OF FINANCIAL AcTIV￿IEs FOR THE YEAR ENDED 31 AUGUST 2020 UwreDtrl¢¢Ed dDwed Tbt•l OthEr Fupd 2•1D £tyoo i'ooo £'O•D hgol frrxrcffivth 2( 34.124 ulh¢Teth1t￿￿ In¢om¢ An¢illw i1￿￿$￿¢￿￿¢ Trathn8f.omp4Dies 14 4D 40 95 VdluAt•ry i•tsr¢•i 2.642 2.466 GovEThTreni Gr4ntb 2.444 2.474 1&LIl In4•rn• 466 1.669 40,727 3$$ 574 tr.xpeTh&iw¢ nn roiJiThi 26$ 1.641 NEI 31,B27 Toidch4rilibkexpinthw¢ T•¢•1 txp¢n4i¢¥r¢ 68 Nrt r￿d￿ frots upryiliOft* t¢fo￿trInsf¢ry ind In¥¢iimenl ￿￿1 1.792 2,950 389 276 rr•MfErSL*l￿1n r fad 62J KeYilwlpJn of linw¥E fJTtd •*¢1 P4ll'hlOVTrN*YTth IiINDS bDII YL4R 623 Fundhlaficelit l *pl￿&r 2019 J5.909 71.166 67.47 ¥VND WALANCLS ATJI AUGI5T201 12 5.069 All amounts aboyc relatc to continuing activities. 'I'he notes on pges 27 to H form part ol'these account Pagc 24 Re.£i%te.red C.hartty Number 307942 THE KING'S SCHOOL, CANTERBURY SCHOOL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020 R¢¥irl¢t¢d ETr+J(*wtd Other VuThd 202 ￿m￿d￿ 2019 £'ooD t'o £'fyoTr l'oon hiiTrl fees r¥c¢i¥l￿¢ 2(•1 OilierfLIKational incoine An¢illiry trathhi incoin Oth¢r Ir•dlni *¢11￿¢6¢￿ A¢iivltics loi ynern(IThAfuh 84 240 306 DDnk widoili¢r Ini¢re 40 95 Vol*nt•ry so¥r¢t• tkJn•iiiinsAiidlcwy 42J 372 2,S42 2.466 2,444 38,627 2,444 202 372 40,859 Aptn4111urt 265 40 356 Fiffl jnriff8¢￿I Yol41 thdu¢llbl¢ ¢•ii 1.906 46 J72 Total ¢h#rliaNe Exp￿￿[￿* Jo NEI Income from opuxlioni roro irnDsfmthd InvEJiment gini 202 1.608 372 2.1)42 NEt In¥e*iTr¢nii 374 266 TrM%fErnb¢tMtcii Ntl li{owe 1•4J ¢*plt41 IIAn•wi 90 2.24$ 3.2QS Revil￿140￿ Dft￿n￿tk rixLxl4nllli frUNDS 623 2.024 4.36 Fimd t418nctStsl l 2019 35.969 2,836 32.386 66.825 D B￿LA￿L￿5 A'fJL AUGIISTZTrI 12 All amounts aboyc relate to thntlnulng activitics. -I'he noies on p4r.5 27 tfj 44 forTn PBrt oFthr8r. ar.counts Page 24 Reoiqtered Charity Numbcr 307942 THE KING'S SCHOOL, CANTERBURY SCHOOL AND CONSOLIDATED BALANCE SHEETS AS AT31 AUGUST 2020 Cotksolidated 31 A￿EllI* 2020 Schwl 31 Auwt 2019 JI Awgu$i 2020 31 Au￿¢ 2019 FJXUI A￿￿13 &s¢ts 116,927 9,669 126.596 116,702 9J53 121,055 I￿V¢SIM¢￿[S 9.280 8.979 124.287 r.IlRRFNT ASSLI1S 361 343 Lkbiors 3,172 7,J06 2.666 7.307 10,316 3,468 2.973 7.160 C05b &¢ bonk end ￿ hEnd 11,034 CHLL)JIUR21.. *ithiD Ont y¢Ar 1144511 113.3941 lJJ231 CURRkryT I.IABIJ.I'I'IIS 1419 13.0781 12,4B91 140.0001 19.6181 17331 140.LK)01 18.6671 140.IXIO) 1¥,6671 l)cposts & AcL'Na AdYqn¢¢ Tr'¢¢ 19,6181 17J31 C.KTr.I)ITOILS: due ifter one yeAr 149,8691 149,R691 'II)IAI. Nfr:'I'ASSLt 73.r126 71,166 71215 FND()W%D FVNJIS 12a 31386 33,009 32.3116 R VJIRif.'IlD FVNDS 12b 4J68 2,836 lINR￿.11[1c.1￿D FiINI)S Desiwthd und general funds 12c JS748 35.969 35,969 12 71826 71.866 73,215 Approved by ihc. Governor8 and Signed on their behalf by.. The Very Reverend Dr Rnheri Willis chairman i)f the Goverrlors Canterbury, 1st Decen)ber 2020 Page25 Re£i5tered c.harity Numhtr l(I7942 THE KING'S SCHOOL, CANTERBURY CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020 Consolidated cashflow statement JI Ap%p$12020 £'•o 31 Au¥ust2019 £'ooo Note C*sh fvom *rI1￿lIe¥ 5,741 2,912 C￿h 110￿ frum In*$tln8 *L'ilTrllle In¥e$in￿ni ￿¢0￿. ￿.¥¢￿15 I'uKhth3¢ ofilngibk fixd L%s¢ls Joo 13th67 13J071 11&332 11.440) 7%3 N¢w hLs ui &dvon¢e i)k5¢011ni Alk)w¢d Purcnl ArTh)unis Uli11SL'd Fn)mAdvon¢id ￿￿1 598 ITrL'rtuellDttrtaitl In ¢¥h IA Ilt yt*r 198 17*411 7J08 25.149 C*ih AndtA*h twlIRltnl$ 4¢e•dof th¢ ytir 7JO Page 26 Re£istered Charity Nutnber 307942 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 EMENT OTr ACCOUNTING POLICIES The King s Schuul L'anterbury is a Lharily incorporated by Royal Lharter in England and Wale5. Registered address.. 25 '1'he PreLincls, Canterbury. Kent. C'l'l 2ES. Ba515 ofAccounts Preparation The5c accountb are prepared under ihe Charilies ALt 2011 on the historical LU5t Lunvention as modifled by the ad(>ptii)n of Lurrenl co%t for invc8Lmenl aysel% and in accordance with applicable accounling standard5 and ihe Statcmcnt of Rc.commended Practice on Accounting and Reporting by Charilies.. FRSI 02 (efTective from 1° January 21119)- The aLcounts consolidalc thL fL8uIts ol. the School. ilq wholly owncd subsidiary King's SLhool F_nLLrprises Limiled tUgLihLr with thL CILary Blacktriars Trust, a rLgisierLd Lharity (number 2972491. which is xubject to common L()ntr()I, un a line by line ba¥i$. 'I'hL 4Lhi)ul ib a Public BcnLfii Charity ￿ dLfLnLd by FR.$1112. Going Concern -hL Guvernor5 assess whethL'r the u8e nf going concern i¥ appr(?priate i.e. whcihLr therL arc any matLrial uncLrtainlil￿y relatod io cvonls or condilion¥ that may cast $ignificani d()ubt on ihe abiliiy ol. the 8chonl io Li)ntiJ)ue ay a going cnncLrn. 'I'hL (N()VLrni)r% make this asse.48mL'nt in reypLct nf a period (Jf onL year from ihe date ul. approval ol. tEL(.. PinanLLal stalement5. Thcre arL n() matLrial unLertaintiL¥ ab()ul thL %Lhuul'% ability to conlinuL as a going concLrn. I'.ees Fc¢.4 r¢¢.'LivablL and chargLY for scrvicL8 and u.4e of prLmises are aLCI)unted for in ihc pcriod in which the yervicc 14 prcivided. E.'eLS fcLcivablL arc stalcd afiL'r de.du('ting allowan¢L%, .4¢.hular¥hipy and uther r¢mi88ivn¥ granlcd by ihe School Irc)m 118 unreqlritied hut include cnnlribuli()ns received Irom IIL8iricicd i.und8 lor Scholarshipi, BUr￿rieS and uther grants. AdvanLc l.ee income ThL School oITLr* par¥nt¥ the oppurtunily iu pay 5Lh()r>l fÉe¥ in advance in aLI.'urdancY with a written L(>ntraLt. 'itse iontracl.IcL8 OLII agrLI..d ii'.rmly paymLTlts from iho prcpaid balance again8l 4chi)i)l FLL4 nLL i)I'an a¥reLd fixcd termly discount. 'Itse amount received i¥ held a8 an interLYt-bearing liability with iht. Lntt'.rt'..¥t a('c'ruing tt> thi.. LhLme. The advance ILC IS trcatLd a% d(..ILrred incomc unlil th(,. pupil joins the Schoal whLfLupon the agrecd termly amouni Inr i'.aLh 4Lhoul it'.rm 1% charged against ihL fLmaining balance and takL'n l() ini'.()mt'. 'I'hL %(..h()nl feL pyvr iy liablL lor any dI￿¢re￿CL bLtw('.Ln the axreed termly paymLnt and ihe school lees for thai term. Any cxcci% aLcfuL,d to thc Srheme over and ab(Jve thL agreed tolal iermly payments 1$ IrcatLd as additional ¥Lhool income. Grants and Bur¥aries Grants and hur9￿1e￿ fr()m rL4tri('It..d fund¥ are included a5 expLnditure in the peri()d for whiLh thi., award 1% given. Bursaries and allowances Irom unr¥sLricted I'und& tuward5 school Icc5 at the Schools are trLated as a rcduction in those lees. Donations DonatiotL8 reccivable for thc gencral PU￿0$¢8 olthc School are crcditcd to°other Unrestricted bunds" to distinguish thctn from &'rect school incomc. DO￿tiOnS for PU￿OSe5 restricted by the wishes of the donor are laken to the relevanl'Re5triLted Funds. where these wishes are legally binding un thc School Govcrnors, excepl that any amounts required to be relained 2s Lapital in aLL￿rdanle wilh the donor 5 wishes art accountcd for instead a5 P.ndowments- pcrmancnt nr e.xpendable accordin to the nature OF the restriction. All dnnation8 are recogni5ed on rcccipt aTLd bcquests are recO￿lSea nn execulion of will. Page 27 IReRi5tered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 Legacies Lcgacics arc accounted for when thc economic benefit to the School is considered probable. Resources expended Expenditure is accounted for on an accrual¥ basi¥. Overhead and other costs not dirertiy attributablc to particular funLtionai aLtivity ￿tegorIeS are apportioned over the relevant categories on the basis of managcment estimates of the amf)unt attributable to that &Ltivity in thc ycar, eithcr by rcfcrcnce to starf time r space occupied, as appropriatc. The irreLuverable element of VAT is included with the item of expen%e to whiLh it relates. Governance cosly comprise the costs uf running thL charity, including strategic planning For its fuiurL develupment, also inlernal atld external audii. any legal advice for the Sthnal Governc)rs, and all the costs of cnmplying with Lonqiitutional and statutory requirements. such a8 ihL Losts of Board and Commiiiee rTLLLting and uf preparing stalutory aLLuunt8 and satisfying public accountabilily. Pension Scheme8 The ¢harity ¢ontribule¥ tc) the Teachers, PLnsion Defined Benellts SchLme at ratL%.%Li by the Scheme Aeiuary and advi%Ld to thc Board by ihv. Schemc Admini%trati)r. The &Lhemc 1$ a mulii-cmplrjyer PL'n¥iun bLhemc and it 1$ not P031iblL lu identify ihc as%el% and liabilitie$ of ihc 8chemL'. whiLh are attributablc io ihe Schwl. In aCL()rdanLe with I'.R$102 the scheme is accounied fur ay a defined coniriljution Jchcmc. 'l%e Lharity algo contribulcs iu a defined coniributiun schemc, wilh funds hcld externally, lor non-leaching slaff who become eligible on complLtiun OF their probatiun tu join tho scheme. Operating lease Rentals payablc arc charged in the SOFA un a ytraight line basis over thL lea¥e term. School land and buildings and equlpment. Freehold and leayehold property -'l&csc pri)PLrtie8 were valuLd in Augu81 2016 by independent Vaiuer9, Larter Jonas <5chool buildin¥*) and Amos & Dawlon (rcsidLntial pr(IPLrties). In accordanL￿ with I.'R8102. the Governors have and Ivill Lontinue to carry out annual review for impairnient b. Capitalisation of property improvcments and additiong Only the costs of con8tructing new building5 are capitalised. The c08ti Dr improvettLent5, Tnaintenance and in convLrting exiyting buildings ror other u¥e8 are written-olF to the Statement ol. Financial ALtivities in the year in which they are inLurred. CapitalA8atlon OF furniture and equipment - All additions ire capitaliscd in thc year in which the expcnditurL was Lncurrcd, .iubjeLt to a de minimu5 Icvcl of £5,000. Depreciation Deprcriation is provided on Plxed a35cts so to write-olTtheir cost or valuation le8% any residual Yaluc by 4ual in5talments over their expected useful livrs. Deprecialion is charged frum the term following the period in which the expenditure was inLurred. No dcprcciatiun ib provided in any period prior to thal in whiLh thL asset was first brought into Use by the Schonl. Freehold property- No depreciation has been provided on the School's froehold property, other than the exception8 dctailed below, a% thcir cxpccted useful lives are in exces5 of 50 year% a7Jd the amounts of depreciation and accumulated depreciation Laiculaied thereon deemed tv be neither Page 28 IRe2iStered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 ma erla nur signi owing are exLeption to t ReLreatson Centre and St Mary'q Hall. b. Depreciated freehold property - the ￿noUnts of depreaati()n calculated on the JKS Spr)rl5 Hall and Nurscry, the Recreation Ccntre and Si Mary's Flall additions are yignifiLant and accordingly they have been depreciated over their expected useful lives of belween 10 and 50 years. Leasehold property - the5c arL amortised over the period of iheir individual leayes. Ican ports an ursery. t d. FurnAture and equipment- depre¢iatiun 15 provided based un iheir Lost and ugcFul lives ranging between three and twenty y¥ars on a straight line basis. Motor vehiclcs - depreciauon it> providL.d based upon iheir cost and expec.ted useful liYe$ o( four years oti a straighi line basis. Revaluation 'I&L. freehold, lung ILasLh()Id and sh()rt leasehrjld pruportiey which are u.%ed lor gLneral schnrjl U¥L have been valued on the b￿]5 ol. Fair Valuc IFVI in accordancc with FRS102. '1'he 5chanl sports lacililiv.s have bLLrh valued on the ba41¥ ol. DepreLiatLd RLplaiemcni (.u¥t (DR(:) wherLa$ the residerltial properlies and freehold invL'%tmLnl land ha5 boLn valued on the basis tsl'markci Value (MV). Creditors LhabilitlL% arL reLogni8L,d whLn ihLfL' i¥ an obligation ai thu balance 8h('.L'.t dale a¥ a re$uli i)[ a past evLnl, il i pr()bablL. that i transfL'r ofLconi)miL benclil will bc rL'quired in.%e(IlLmenl, and thc am()unt. of thL 8LtilemL'nt can bt., eblimaLL.d reliably. Liabililics are recngni¥ed at Lhe am()unt ihai the antiiipal¢4 il will pay lo scLII('. thL debt or the amount it has recLived as advan(.'ed paymL'nty for the giiud¥ of sLrviLLS It muxt provide. Connected charities Thc Norah Elizabeth Jervis Will TruJt- ltsi5 tru*l iy lisled by the Charity Commi.8$ion a4 a sub8idiary Lharily ¢>f thc King'.% SLhool, Lantcrbury, HvwLvcr, it is douL)tful wheihcr ihL I rust should be clahsipied a* a ¥ubsidiary Lharity as il would appLar thai ihe ()riginal %cttlor iniendi,.d that the 'l'ru¥t remain separaLe from thL. SL.huol and accordingly appointed a trusicL Inde￿ndL,￿l of the School, HSBC. Consequently, thL artivities of the '[ ru81 knvc not beLn incorpnrated int() these linancial slitL'ments. l)uring thc ycar the I rusl rL'Leiwed invLStmenl inLume (Tr1'£8k {2018- 19.. £8k> and li'a¥ed property to IhL SLhool on a LummLfLial basis lur £114k per annum. 'I'hc 'l'rust a%¥ets wcrL Ll.936m as ai 31, August, 121118-19.. £1.936 milli(Trn). 1he %Lhool receivey facililie¥ from the Trust donate.d at market valuc. b. The Calvin & Ruse HolTman Marlowe Memorial Tru8t-'I'hi8 is a separately rLgi%tcrcd Lharity (number 289971) but is conncctcd to ihe sc-hool by virlu('. of common contrul and adminisiraliun. Howevc.r, thc results ol. Ihe .1 r￿*t have nui been consolidated inlu thLSC fmanLial 8taLemenl% a% the 5choul Governorb Lonsider that the objects 91. the Trust are too d]'85imilar to thosc oFthe. School such that the resuli¥ would be meaninglc8s. 'I'he full accounts ol. the Trust are available from thc Bursar al the Schonl. In summary, the I rust had net income of L7k (2018-19.. LIOk) and TLCt movcment in funds of £52k (2018-19.. £40k) and net as8cL% of £1,0711k (2018-19.. il,018k). Page 29 IReRistered Charitv Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 Investments Investments are included at elosing mid-markct value at the Balance Sheet date. Any gain or10%5 on revaluation is taken to the SOFA. Investment income 15 accounled for in period in whiLh the charity is enlided io reLeipt. Investment management cobt5 are accounted For a8 incidental costs of the acquisition or diqpolal where tran4Lli()n bayed. while investment income management CO8L8 are charged a8 expenditure out oFthe rclevant income FuniL%. Stock Stock is valued at the lower of cost and net realisable value. Critical Accounting tstimates and Area8 of Judgement The School inveslment porrfoliu is mawed externally and valued ai Markci Raie. Depreaation 15 charged over u8eful life ofthc asset. Fixed asseis are revalued every 5 year¥ by exiernai valuator5. SCHOOL FL,ES 2020 2019 £'ooo {*) lThe School's fee Incom¢ ￿mp￿se￿.. Cir()%% l.'e¢% 36,1179 {2,1081 J3.971 37.394 IK59'. Tolal buTSariu, 8riinty ¥nd dlowgncL¥ Add b￿k- Scholarshipy. el¢. paid by Irwi fund 33,970 35,274 In addiiiun, the Old King'5 Scholars, Tru8t contribulcd £18k towards pupils, fees during the year (2018-19 L19k). 2020 2019 £¥￿0 £'ooo Ib} Gr*nts. Awarth and prlzes ￿ld for by RestTlcted Funth tompdsed.. h()lar%hip, wgnl8 etc. 350 233 Pri7.￿. cyhibitK>ns and ledvingawfjrds J54 239 Totsl eduLatiunal awards were made tv 246 individuals (2018-19: 268). Pa8e 30 IReRistered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 'ilJe clwity owns the whole vf King's School Enterprises Ltd, which provides accommodation, catering facilities aTLd rctail Shop trading. It cnvenants it8 taxahle. proflts to the School. Supplie* made by King'¥. %chool Enterprises ta the. School are exelud¥d from the cunsulidated regults. At year end £287k was owed it) the School. The Chariiy uwns thc whole ol.llje King'5 School (International Lid), tlu's company rccugnLSL¥ eX￿ndItUre and rO￿lI1eS/lnLOme in relation to thc King% S(=h()ol Canterhury's overscas active8, such as its school in Shenzhen. li c.ovenants its taxablc proPits lo the Schnol. At year end LY9k was owed io iho SLhool. 2020 2019 Kinup'¥ SLhuol Enttrpriyes Ltd Tntal £'o(x) lurnuvLr 232 717 Losl of sales {154) 131161 78 iu 1911 (90) 143 Regervea L/l'. The Kings SL'hool (International Ltd) Royaliies Recelv4..d 120 Adminisrrailon tXPLnEes Transfer lo Parent c.harity under Clift Aid e3trve3 C/l-. Cleary BiaLkfriar8 Trust 20)) Tntal 201<} Toial l oial Inc(xne 45 43 r.08t of gtncraiing Fiind 18 CDnvcrnall(r C.nrt% Toial Exptndiiure 19 Net Ir)ri)Ine 26 24 Page 31 IReRiStered Charitv Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 OTHER INCOME Consdith¢¢d Sehwl 2020 £'ooo 2019 2020 2019 £'o Charllalle ￿t￿￿tle$-0thtf Intomt F.ThtrpJKe and rewtrai￿n ftts tkpa5il% & f¢tt forftiied Pupil.*￿￿ Cthirc ReciL¥iXM C¢nir¢ 204 204 175 186 186 56 ?BB 1,234 788 l J34 1.205 1,641 Olhrr ancllliry at11￿lIe$ I￿%￿￿11￿ comnij4%Kin5 J4 38 34 38 130 45 L¢itinsg. prup¢rty rent￿8 and i*her W￿k Incoino 45 Profil r¢ S￿¢ofA3$¢1 14 162 162 Other Incixnlrw reio¥rtes Lvvtnomied I￿￿m¢ from subsidiory ¢omp8ny t)vr￿￿￿1 1,932 710 1,932 71 1.5(K) 2th42 2th42 2,40& ov¢rnm¢nl Cirani%- Tr'urfuu 2A74 2A74 2A44 2844 EXPENDITURE Stho 2V2 2UIY £wo 2020 3)19 £'ooo C.hirllqtle A¢ll￿tr txpnthlure I￿1￿￿1. Rduthishmeni Orbuildin￿ & piipil 11151 IW51 fOr￿di1 5erYKc5 27 30 27 foroihvT 5¢tv 38 30 Ww fjtsj 5514n¢5 ol ￿￿u￿ty cosis Pttn5KJncnnlrihuiK￿5 ZOA54 IJIA6 2,918 2S258 IY.693 20J41 1077 2,911 25,129 19.f 1,788 1156 23.550 23,650 Page 32 IReRistered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 2020 2019 £'ooo £Y)(M) A￿t&￿ted ¢mpluyte-IKncfits ut'key managr￿￿nI pttsunnel 1.028 Key management personnel ￿e made up L)f the OIFicers ol Ihe SL-hool plus Lhc Head ol. Strategy & Markeling. 2020 2019 £'ooo Ttrminaiion And redundaniy p#ym¢n¢s 850 51 Tennination and redundancy paymLnti relate to bLnefits payahle a5 0 result of either.. {a} 3 deci4ion lo lorminaLL' an employeL's employmint heforL thc normal rLlircmeni dalL': or (b} an employcc's decisinn to aLL('.Pt voluntary rcdundanLy in exchange lor those benelils. It does nol inLludL paymLnl in lieu ofnotice. The avLragc number ol. Lmpl()yee& during ihe year wa4 405 lull-timc aDd 184 parl-time, (2018-19: 432 lull-timc and 194 part-time) of which 162 lull-time and 211 ￿rt-lIme {2018-19..1 S6 full.lime and 19 ￿rt-11Ml..) werc Icaching staff. Nciiher ihe Gi)vcrn()rs ntsr PLrs1)n% LunneLtcd wilh ihem reLeived any rcmuneraLion or oihcr bLllLfit# fr()m thL 8choDI i)r any LonnLLtLd urganisation. .1 wo Govern()ry re(..laimed travel CXPL'nyL8 totslling Lik {21118- 19.. Lik) duringi the year. 'I'he .Sch()()l in the Lm)ur￿, uf il¥ ordinary activilics. (.'<)nduLt¥d busine￿ wilh thL Dean and Chapter of Canterbury Caihcdral (in rc8pLLI of rental and insurance) Intalling L378k (2018-19.. 1370k). '111c Schn()l al40 .4hdres ihe c(h%l ()r.¥i.'Lurity gruard$ juintly with the DLan and Lhaptcr l(>r wlll'ch thc School contribulLd L227k (20111-1 g.. L248k). Tht.. Dean and lour rcsidcnliary Lanun¥ who make up ih('. cnrporation known as the Dean and chapter are all ex officio mLmbcr8 OF thL C¥vverning body. 2020 2019 'I'he numlTrer of higher paKi employees way., TayablL enN)luT￿n1s band.. No. £60.IM)1- £70,( £70,tM)1- £80,(XM) £80.￿1 - £W.(KM) £¢)O.(K)I - £ IIK>,(X)O £150,(X)l - £ IfKb,(KKI £ i(Ai.(M)1- £2￿,￿0 £220,(K)1- £210,(KIO The nunther with retiren%nt benelit5 auLruin¥ in -Teachcrs Pension SchenE was -Defined Contribution schen￿ was 25 24 14 14 41 42 Page 33 IReRistered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUIYTS FOR THE YEAR ENDED 31 AUGUST 2020 ANALYSIS OF TOTAL RESOURCES EXPENDED St*ff Other Costs Deweclatlon Totsl É'ooo £'ooo £'ooo £'ooo li) Cwts of gener#tlng funth Fingn¢in8 co.$t8 Fundmising for voluntdry fL&uufLL'5 Totsi for Charlty Trndin8 eost4 ol'th¢ 5ubsKIi4ry J.641 311 194 1.758 222 1,952 133 Totsl for Group 327 1,980 2J07 TotAI for Charlty 2019 Tot•1 for Group2019 242 1.796 2J70 368 20112 Staff Costs Other Dtweclatlon £'cN)o 1.354 155 TrfAI £'ooo 17,272 I,￿)4 2,263 2.IMII 25,4411 £'fNJO £'o 20ffj92 TLILLhin¥ cosL4 W¥llurc 1.355 5.052 PrLmi%c% 343 Supp()rt co8t5 SehMI's 0￿rAtIng ¢￿ts (kants. Jwards & pri7£3 3.020 36.984 9.492 2,052 25.4140 9,4 2,052 36,988 48 (knrnAnee Cthgts 36 Totsl for Charlty 2.1152 37036 Subsidiary cwcnditure Total for Group 2,1152 Totsl for Charlty 11119 TolRI for Group2019 23,041 23,041 11,109 11,103 1,257 1357 35,407 35,401 Page 34 IReRistered Charitv Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 TANGIBLE FIXEI) ASSETS Fr¢cMld Assets Unthr i£￿e￿5d l.wnl￿¢& Pror*rty Cor6iTuciion Property F4llipnrnt V4hi¢l Lh*rily TutAI fL'cknld lJro)xriy Vcjuclcs Totxl ruoo r(M)o £'noo £'ooo £'ooo C.￿t •rVI1￿110 Balawt$ Qs of l S¥'p*tt*tr 201 88,1)40 'I'iatLsf¢r ¢>fAsiets 14.887 Addits0￿8 270 Isposa15 1$ It Jl Aulus120￿ 102.976 J.J06 6.164 35 470 129 I I9JS4 225 119J83 2,840 87 Jth67 &667 5,J93 5.158 12l.2J9 225 Accumuknted &pYc14l IlalattKb ￿ i)f l Se5*n*tr 201 fiir ￿fir DIip05aly Bilamrt a$ Ai Jl Au1￿1 202 968 42 222 95 ¢40 2,ry52 4,052 1,526 1.3()6 9J 4,537 4.143 cl Bwk Vilue Bilinrt il 31 Aw4¥112020 7.413 5,276 5,2%3 2.429 3,431 116.702 IJJJ08 225 22J I 16.927 115.133 87,On All ol. IhL, IIxLd a¥¥els arL U8cd l()r ihL direct charitablL pufpoyLS of thL %Lhool, shown wiihin thL Charity tntal. A full rLvaluaii()n oFall properliL5 wa5 carriL,d (Jut in AugLL¥i 2016 in linL wilh the S year LyclL. Due to the age uf our buildings ihL' Ll)at mudel is nol a uyeful compari¥(Jn. Page 35 IReRlStered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 INVESTMtNTS De5*ul¢d Reslrfeted Ethmt TruNJs £'ooo CO￿011d11ed Prn￿rtY Total £*(M Al val￿tIOn Il&laNe as Qt I S¢pi¢mbrr 2019 Addi1io￿S Disp05alslredenwon ai Piir Realis¢d lg91￿￿) I10s%e5 Ihyraliscd ￿lli5 I11th58esl 2,62 301 5.069 1,2YU 9281 123 251 ag It 31 2020 2,743 316 SJ20 1.29] 9ffj69 Inv&8th*nLs #x in IJK kld sara￿1￿ Alpho CIF fi￿ ErnI0w￿￿tI Ilzwttr Fwxlsl Ijoth. UK Equity. UK El￿￿15- Ovcrseas Eciuity. ()v¢ryca5 Pruperty Ots*r InvcytsrtnL¥ 937 25 4J.12 230 839 l.iqdd kneL¥ 8J79 1.2 l¥operty Ikld ftsr InvL%trwni Hlilorfe t￿t 5.108 Dei*MtEd R¢x¢rlrtpd Enthwmtnl Ibl S¢hJol Propetty l'ooo £'(KJ £'ooo £,9 At ViiluJlion HalanLf 01 I S¢O1'nknr 2019 [j￿reall5¢d gall￿ I IIO%yL￿l 2,62U 123 J,069 251 1,290 11,979 374 at•ntt a$ at JI 211211 2.743 JJ20 1,290 9,353 Hhtorf¢ Coit In¥eJtThnt Incomp Cortolkl#ted S¢bool 2020 2019 £.￿ £'o(xJ 2020 2019 £i(th £'O(K) TrAeregt on ¢4shLfvits hEld for invogl Qn listcd in¥tsttnetts li￿ Gilts) 40 95 2M 321 31K+ 416 95 300 401 248 288 All investments are either in a common inve5tmcnt fund or Governmcnt Stock5. which arc held until their redetnption dates. Page 36 (Re￿IStered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNT8 FOR THE YEAR ENDED 31 AUGUST 2020 Conjolithled sCfv￿ 202D 2019 2O20 2019 I'ooo £'oo x'oo Pupild£biurs rrndi. di'biofs (Xherdcbior4 431 4Jl 131 3(A IJ3 2.107 397 Jy i( Pr¢pnYn￿I7l5 & ALcruLd Inci)m' Awuni& by und¢M8kxi85 2JJ07 2.1￿4 3,172 2. JA611 197J CRFDrroiis tht *llblTh ont yefir Con••lld•lt 2019 £'ooo 2020 £'ooo ii) £,0￿0 £'Of Trndc Lrcdilorg 1.12 1.21> I￿¢ 10 sUbs￿l￿ry und¢rtokiny 173 4411 ¥oJ 925 '5'aN& Srcurity Liis1$ Ikpusis & AL'L'IUHL4' frc<5 rcec￿ld in •dv•ii¢¢ 732 567 J,910 5.679 4,998 4J14 4J14 5.6741 12.18 1143 AdvanL'L Inutc 111 Y4J 1,02) 13,4.qB 13.q2J Ioh c.'kfrJ)riDKs dyt iner wt yeir 2U20 19 her I￿￿n Ikptt.4￿I Lk A¢¢ruaU. 40.IMX> .t67 1302 40.(XN) 8,f**7 12D2 9,61 733 9hl# 7JJ 49,8fll 49,B69 An utiyeLured Private PlaLL'tneni ol. E40tn wag ohtatned July 2U16. The Lniere¥l of 3.50/0 has bttn fix¢d lor the pvriod of the LDntraLt. 'I'he agrccment is in thrcc Iranchcs: £IOm 30 year final 35 year bullel 34 year fjnal A Revolving Credit Faciljty of LSM was obtaintd in July 2020, for thc ￿rIOd of 3 year8. The interest Dr 3.50/. bccn rixed for the peritsd of the LontraLt £20m £IOm Two annually tcsted covenants for both of the above faciliues arc as followE= Nei Debi nut tu exLYed 75VD (Trf Consokn&ted'l'otai Assets Ratio of EBITDA to Net Interest at year end not to be Itss l.S0..1. Page 37 IReRistered Charitv Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUL¥TS FOR THE YEAR ENDED 31 AUGUST 2020 ADVANCE FEE PAYMENIS Parents may enter into i contract to pay to the ￿￿001 usually up to the ¢quivalent of five year5 tuition Fee5 in advance. -lThe money may be returned subjeLt tl) $peLific conditions fullowing a due notice period. A￿UMIng pupils will remain in the School. advance frey will be applied as follows.. 2020 2019 £'ooo Aftcr5y¢a Within210 5y¢ W￿h]n I to 2years 49 360 373 633 733 Within l y¢Ar 943 I.￿29 Ih76 2.231 The balance rcpre¥ents the aCLYued liability undcr the contracts. The movementy during thc year were.. 2020 £'uoo 2,231 2019 £'(x)o B&lancL' ay ¥t I S¢piimh¢r 21119 3,012 N¢w contrac1% 783 Amunts JLccnJ¢d lil Lvnlrac15 DkiLounl Alkn￿d to Pyrrtbt¥ (71 2122 3,781 Amounis uiili%¢d in paynKnl¥ uf fve5 {1,5501 B8linc¥ a¥ 1131 Augujt 2020 1ffj76 2331 Page 38 IReRistered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR EIYDED 31 AUGUST 2020 The net as&ets belong to the various lunds (inLluding Adyancc Fccs) as follows.. Net ¢urfeni lJong-Itrni cOM￿lI￿ted Fix¢d A￿ets Invt51meTrts Total £'ooii £'oi)o £'a(Mi £'ooo £'OIMI LThluwrn¢nl tur%J5 RLSITleled liiThJs u￿eStriC￿.O lunds 25,728 225 90.974 5,320 316 4.033 1,961 4,528 19,6411 5,069 33,748 149,6181 116,927 9A19 13,152) 943 149ffj181 733 50J51 73.826 AdvarKe f¢c8 116.927 11,34S 73.826 tt turrenl Loi%-t¢T lTrMbllllie5 S¢hovl FIX￿1 Asfj¢ts Tol41 £'uoo £'O(K) l.'Ml()wnK'ni fu￿8 RLslriciLd fuThls UtYL'siricird luNIs 25,728 5,32U 1,961 4.368 19,551} 33,009 4J68 35038 911,974 4.033 149,618) 116,702 9JS3 13,2221 943 149,6181 733 73.215 Advun¢c fccs 116,702 11.029 73.215 12A ENDOWL,D I.'UNDS: MOVEMENTS IN THE YEAR Bil•n¢e Jl A¥8 2V2ri In¢omi rey0￿rCeS RtA(y4rL'tJ 2019 rt*lullllon8 'I￿A￿l￿rI £Yx £'O(Kl £wi £Y 5.805 14.923 RL'valtyai4)n lieservt 19,923 J ('iTrmer 759 7Y7 d￿)Nd%￿n Noak¢$ Schi)larshw. LthihilKlnN & Pryr l-und l*unutL' Pku8¥r Fund H¢yn￿n (.hafy S¢h(318tship F.nduwft*nl 235 lJ91 105 243 1,9114 1.534 75 1031 543 BursEJry Fund I'&J Vcnncr fknrsary Fund 26 350 372 32.386 251 35￿￿9 The Fnundation Capital represents the Driginal endowtnent of land forming the buIk ()[ the School's frcch()Id property. -Ike speLial tru¥ts were set up by individuals and restriLttd to providll)g funds lor scholarships and bursarics. the assets are ￿01ed lor investment with the School's Scholarship, Exhihition and Pri7e Fund and designated Funds and arc auocated a proportion ofinYc5tment incomc. gains or105SC8. Page 39 IReRiStered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ELYDED 31 AUGUST 2020 The gift from Esme Chafy provides income thai lunds the Chafy SL.hDlarship. 12B RESTRICTED FUNDS.. MOVEMENTS IN THE YEAR B*lA￿¢t Ise 2019 BAknTrEe 31A 2021J I'oo Inco & revi1￿¢￿ £'ooo É'OUKI J Corner 25 Sblthr$hip. F.xliiknttN)11g Fli L￿)n￿re Pku¥*f Flut%Hry Fi Ch&fy 159) 143 1501 1171 1471 CJuthtC5 Fyiid tw)ii & Llurg•ry'l"cini 1.uTrJ￿h Rutnctrd IIuT34ry Flind5 I.0￿4*￿)n Sport l.owldai￿J1JItrKT FNWJJ I¥ppc￿.Fs￿1diI1& f￿￿￿pn1e S(Kl￿¢ Ccm 17 47 49 257 176 42 J7 1461 1.957 1691 K1nws Appt41 JKS S￿1￿1￿1￿)￿Pool 58 43 J46 4J68 2IJ6 140JI cl￿ryI11￿￿kfrI1ri Trwi 675 (.'tsMoibJiitd IOIAI 422 IS The Scholarship, Exhibitiun and Priic Fund represents aLLumulated incf)mL to be used lor KhOlars￿.ps, bur%ariL'¥ and pri7ty, as do thc J Cr)rner, Edmon&on Noakc8 and Leonore Pleugor Bursary Fund¥. The transfcr In the Cleary BlaLkfriars .1 ruql represents rental income payable to the Trust by the School, whiLh for the purposes of the Lun¥olidaicd aLLount¥ is trcatcd as a iranslcr. Page 40 IReRlstered Charlty Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THF ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 12C UNREsfRICTED FUNDS: MOVEMEN75 IN THE YEAR lfftweslffleAI 8aln41lknieil REsD¥rceJ B￿kn￿ce 31 2021J £'ooD 2•19 reiDllr¢e$ Tr*#•firJ £'ooo £,￿0 £,￿0 tksiwU￿d S¥k4io1 SLtrK)lÈrship & Bvrsary Fu 26 15.A45 1,466 20 IJMI 38.744 138,9371 li¢valvAlion R¢￿rY¢ 3V28 ijri.9J71 76 35W8 232 IJ041 190 lJJ,241 Y81 S.74¥ 11)c Schoi)l %Lhi)lar¥hip & Bur¥ary Fund repre3enls amnunt¥ aside for thc lun&'rtg Df bursary award5 in the luturL. li iy separately deiignaled within thL gcneral p()i>l i>f inve¥tmenls. 'l&e (Jeneral Fund is retained iu Lover lixcd &%SLl¥ and to provide working Lapital. It is also bcing buili up lu underpin thc capilal dcvLlI)pmeni prDgrammL. 12D TRANSFERS Unre5trlcted Schwl Other Re$trlcted t*Jwtd Tot £ ￿(M) £ txjo £'OLN) £'ouo Kin& AppLTI-IluildinB I)¢v¢lop¢mni Malthi?us¢ Dranw Sch(M)I 17 (69) (76) 69 76 c.kary Tllackfriqrs Trn5t Kings School IntcmalK)nal Consollthted loo (421 School and con501idated trangfer8 R¥striLted Fund- the iransfer frum the Restricted Fund to the Unrtstrictcd Fwid rcflects Eunds donated during ihe year relatiTLg to annual capiLal inv¢stment$ and the complelion ul. the Malihouse construLtion. Page 41 IReRistered Charitv Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 Transfers relating only to the consolidated account5 Deed of covenat)t- No tr&TL8fer wa5 made bctwcen the Kings School Ente￿rIStS Lid in the year due the ihe entity making an in year108S. Cleary BlaLkfriar8 Trust - this transfer represents the rent charged to the School Inr a building le.a8ed Irom the'l rusi. 13 CONTRACTS AND COMMITMENTS Authurised and LDThtracled commi(mLnts in 2019-20- £7.238 milli()n (2018-19.. AI 2.039 TTLilli()n) Le&8e c(TrMmith￿rts 202 2019 £000 Amunts LX* wiihin (In¥ yLar AnwunL¥ dw, between one and fiv¥ y￿r& Ar￿unL% due llAei' l.ive Years 303 552 227 496 1155 723 14 PENSION SCHEMES I'he Schnol g employee8 Lan belong to onc nf iwo prinLipai pension 8chcmes, Ihe Teachers, Peniions Schcmc {'IFS), whii-.h 18 a national schcme and thL AI,(JON &roup Per$onal Pen8inn Scheme fi>r King'¥ ytaff only. I'h<'. iotal pension <.'oyt fur the year wa5 £2.918k (2019-2U - L2,161 k). Emplnyer coniributions Lo ihe 'l-PS are 'gher ihan the AEGON 5chemc due l() li heing a mulii-cmployLr dL.fll)Ld benefit K.hem¥, Lumparcd i AEGI)N whi¢h i¥ a defined ¢ontribuiinn scheme. I'he 5Lhool hay al80 sel up a Legal & General Stakeholder PLnyiun SL.heme. which Lvrrently has no member8. Tcacherg, Pension Scheme 'I'he School participatcs in thc'l'eachLrs Pension Schcmc ¢thL'I'PS"I for ils IcaLhing ¥taff. 1.he PL'n¥i()n Lharge Inr the year inLludey LontribuLions payal)IL lo the TPS al'£3,21 (2111 A-19= £2,532k) and at thL year-end £264k {20111-19 - £210k) was aLcrued in respect uf cnntributionq to thi4 8chcme. 'I'he TP% iy an unfunded multi-employer defined bcncfit% pcnsion schttne governed by The Teacher5 Pension SchcmL RcgulatiDns 2014. Members contrihulL' un a.pay as you go" basis with contributions Irom members and the employer being LTedited to thc ExchequLr. Retiremcni and othcr PLnsion bcncliLs arc paid by public Fund8 provided by Parliament. The employer contribution rate is Ict by the Secretary of state. following 8chome valuation8 undertaken by the Government Acluary'y Departmeni in acLordanee with the Public Service Pensions (Valuatio￿8 and F.mplnyer Cost Cap> Direction¥ 2014 published by HM'I reasury every 4 year¥. The most recent actuarial valuation ol. the TPS was prcparcd as at 31 March 2016 and the Valuativn Report, wELich was published in March 2019, confirmed that the employer cnntribution rate for the TPS would incrcasc from 16.40/0 to 23.6 % from I SLPlcmbLr 2019. Employer5 are also required to pay a scheme administration levy of 0.08D/o giving a total employer cvntribution rate OE. 23.681/bo. A copy of tkc valuation rcport and supporting documentation is on the Teachers Pcn5ions web51te. Page 42 IReRi5tered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 -I'he 31 March 2016 Valuation Report was prepared in accordance with the benefits. Set out in the scheme rcgulation5 ana under the approach speciFied in the Direction5, as they applied at S March 2019. However, the as8umptions were considcrcd aTLd set by the Department for Education prior t() the ruling ITL the 'McCI()ud/Sargeant Lase This case has required the courig tv Lunsider Lases rcgarding thc iETLplctnentation (Jf the 2015 reform$ to Public Service Pensiunb inLluding the'l eachers, Pensions. On 27 June 2n1 9 the 8uprczne Court denied the gavernment pcrmi8%ii)n tn appv.al thc C¥l)urt uf Appeal'5 judgmcnt that tran%itiunal provisions iThtroduLed to the reformLd pensiun ychemes in 2015 Kave risc lo unlawlul age diserimination. 'I'he government is respeLting the Court's deLi%iun and hax wd it will engage fully with ihe Employment Tribunal as well as employer and member representativey tu agree l￿W the discriminaiions will be rcmedied. The TPS is subjeci io a Cosi L7p mecI￿nisM which was put in placL' to pr()teLt taxpayLri agaIn￿t unforeyeen Lhanges in scheme c05l8. I'hc ChiLf S¢Lretary lo ihe 'l'rL'a¥ury. having in 2018 announccd thal there. w()uld be a r¥Yiew of thi$ cost cap mechani%m, in January 2019 anni)un¢ed a pause to the Llllt eap mLLhatLiSTn fulluwing the Cnurt of Appeal'y rulin% in ihc McClr)ud/Sargeanl cagc and until there is LLrtainty aboui ihc valuL nfpLn¥ii>n% io cmpl(JyLt.y frum April 2015 onwards. In vicw nf thc. abi)ve ruling8 and decision5 ihe a%.¥umptions u5cd in ihL 31 MarLh 21116 ALtuarial Valuation may bccnmc inapprvpriat¥. In thiJ SLenario, a valuation prepared in accurdanLe with rrvi¥ed b¢nclit¥ &nd.8Uitably revised a89LtmptiDns would yiLld di&TerLnt rc5uILs than those contained in thL Actuarial Valuation. Until a remedy to thc di8criminati()n cunclu5ion ha8 hcL'n determincd by thc Employmcnt'l rihunal it 18 not pr)s.qihlL tu LonLlude on any linancial itnpaLt or future change4 tu L02)tributiun rate¥ ol, the'l-PS. Ac.Ll)rdingly no provision lor any additiunal past benclil pi'.nxion costs 1.8 included in the5c linanLial.¥ialement4. Under ihe definilinns 8el ()ut in FRS 102. thL'I'PS li an unlunded mtsltl-Lmplnyer PLn*ion scheme. The %chool has accouniLd fur il% Luntribution8 to ihe 8Lhe.me ay if it were a dLfined Lontributiun YLheme. 'I'he School ha t Dut above the inlormalion availablL OD the schem¥. AEGON Group Penonal Pension Scheme Non-teaching 8talE' cligible In partiLip&te in a defined contribution sehcmo managed by Aogon Group. The a8sei¥ uf the ¥cheme are held scparately from the School. 'l&e empli)yer'¥ Lontribution rale varies aLLording to the level Of Lmployee's contribution ch05cn by at) individual member of staiT. New entrants auto enrollcd inin the ¥LhemL join al standard 4 % EmpluyL'L'S and 5. 340/0 E'mployer's contribution, with a maximutn Employcr 5 cnntribution of IlP/fr (on completion of probalionary period). Staff School 4.￿/0 > 7.5Q/o 1.33Yo for r.very IV Ther¢ was £1 Ook aLLrued to the schtmc as at 31 August 2020 and this was duly paid. 10.(X)O/o Page 43 (ReRistered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTKS TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 15 RECONCILIATION OF GROUP NET INCOME NET CASH INFLOW FROM GROUP OPERATIONS 31 August 2020 31 Augu$t 2019 Net incomin8 f¢souT¢eS (see page 21) tkprccvdtion 1,792 2,052 2,956 1,257 Investnrnt InLon (3(X)) (4161 Finance and other costs Decreasellincreasel in sto¢ks De¢￿ase1(1ncrta&¢I in debtors IncreAsel(de¢reasel in creditors In¢reas&ldecreasel in deposits N¢1 c4$h Inflow from group(pr4tlon 118) 14211 65 (21 11,358) (16(Kl) 1.635 2,912 950 5,761 16 ANALYSIS OF CHANGES IN NETCASH RESOURCES AND DE,BT OF THE GROUP Atat AtAt 01 SeiA¢miYr 2019 £'ooo Cash Ilow JI August 2020 £'oo £'ooo Ca%h in hund an(14¢ h#nk 7.307 Ixhcr I￿an (40,(MKII 140,(KM)I Net Layh thillow fmm 8roup operatK)ns 132ffj93) 199 132,4941 Advance fee8 dui within onc ycar {1,0291 19431 Advance lees aftcr nx)re Lhiin on¢ year {1.202} 17331 (34,924) 754 (34.170) 17 Covid_19 Impact The worldwide outbrcak of the coronavirus pandemic (Cvvid-19) has cau5cd extensive disruplions to organi5ations glohally with major implicatiOTLS For operations as well as PiTLance5. 'i&e Governors acknowledge and recugnise the impact ol. thc CoYid.19 pandemic on the opcraiions of the Schonl, IL$ pupils, partner8, stakeholders and tjn the wider ¥ociety, and Elave enswed thai buth rebource5 and proce5se¥ are in place lo mitigatc any disruptiDn to its opcrations. Page 44 IReRistered Charity Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 Unrcitrictedfvn Tqptsl Total SL.h¢x>l Other Fund Fund• 2019 Funth 2018 frorn: Ch•AtsiblE athivlll¢ khool re￿ ￿￿e1¥ab￿ 0) J5,274 (khertdits-ItS￿￿l INI)m¢ AnL4llary Othtrtradl¥ actlvltle Att￿￿ts￿ loT￿nEralin8[Urkn,. -rTrdInBI￿lll￿f.. K&r..i. 20S 265 717 717 817 103 95 95 *2 Volurthtsry 422 2,466 40,727 Ti>L•l s￿0￿4￿¥ RtioutL'L¥ 3?,￿19 82# ExpEThlitUTt oni Ir4dioA¢'nAi*. ￿￿1 [..Rp￿altuYL on nrlz¥(A>5ti 574 574 ?10 1,410 TDtsI iknlucLlb]c 574 2,462 Nel 1nttsj￿n¥rn1jTh 254 15,J?S YtXil4.hirtl4blo 35,27B 35,401 Totsl ExpEndltu 37.074 574 17.771 35,369 NEt Injm 2,9%6 In￿lI￿nL1 167 276 Tran￿￿i￿c£n f￿nd1 99 NetlMyJJn¢4nd¢4pltal 725 140 NEThiOVEMENT IN FUP4D5 FOR YEA 4.3Y¥> 2.Trl Fuhd it I 2011 JJ,832 3,447 30,197 67.476 64,705 Ftll¥D BALANCES AT31 AUGIM2019 12 35,%Y 12,38G 71.866 67,476 Page 45 IReRlStered Charitv Number 3079421 THE KING'S SCHOOL, CANTERBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 19 Prior Year School SOFA Unrrstrlcted Fund• Reatrirted Endowed School Othcr Totsl Funds FuJKi4 2019 Funds 2DILI Incojne and fnmii Ch•ritable aetsvlli Scho￿7 frei reLry4valile 2(0) 33,?4S (khor cducLtional Incom¢ 1.641 205 365 Oth¢rtTadly AL*ivili1i fiITWCTitiN¥(undi., Tr￿lIngIn&T￿￿Q.. K.SEL 143 2r)3 BIDk Dih¢'r Int¢rthi 95 95 91 Volunthry inurr*• 455 427 2,466 TotAI Inromr. J7.YUg ?54 .xptndiiyTe un rdlilngfund i.mo Tot*1 deduc￿611.. IxTrits 1.7Y6 1.7% NL% Int￿min8v¢￿T￿ttii 754 TolalLthirtt4bl¢ I¢￿ure￿ ¢¥p¢ndEd 6b J5,2Y6 15,41>? TulAI l.xp¢ndltUTe S7,￿99 17,2ni J4,675 In(￿rnL. frorn ¢peMiiim¥ 817 254 282 2.Y42 2,45L) Nct Galnill1.0sw}￿Th Inv¢*rn¢nt 8b 167 Z66 brlwcm fundi 12d Net Incr*meAnd t*wtal 40 1,756 3,ZV 2,6 72$ 453 NI.T MUVEMENTJN FUNIX 4,366 2.746 Fund balancel at I ￿P1¢￿&￿r 201¥ 33.832 2,796 30,197 66.125 FUND BALANCES ATJI AUGiLST N119 12 J5.%Y 2.156 66.825 Page 46 IReRistered Charitv Number 3079421