2024-07-31-accounts

THE CORPORATION OF KING'S COLLEGE SCHOOL A Registered Educational Charity REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Charity No: 310024

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Contents Page Governors, Officer5 and Advisors Report of the Governing Body Report of the Auditors 23 Consolidated Statement of Financial Activities 26 Balance Sheets 27 Consolidated Cash Flow Statement 28 Accounting Policies 29 Notes to the Financial Statement5 33

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 GOVERNORS The Governors of the school, all of whom served during the year, are as follows: Lord Deighton KBE (chair) Mrs S.A. Bennett BA Dr S. Gawley {special interest: Safeguarding) Mr C.G. H21e MA LLM Mrs S.A.B. Hobbs BA PGCE (Special interest.. WCPS) Mr D.G. Ingram MA (special interests.. Health & Safety and premises, estates, Outreach & Bursaries) Sir R.M. Jay BA QC (chair of Appeals, Disciplinary ind Complaints Committee) Mrs JA Larizadeh BA PGCE (special interest.. partnerships) Mr l.A. Macmillan Bsc ACA MBA (special interests: Sports and Games, support staff) Mr5 A. Ng Bsc FCA (special interest: senior school) Mr T. Oki BA Mr R.J. Parker MA (special interest.. Friends of KCS) Mr J.A. Prager BA Ms l.L. Robinson BA PGCE MEd (special interest: junior school ind performing arts) Mrs J.G. Sarpong Bsc MBA {special interest.. Equality, Diversity and Inclusion, GDPR) Mr G.C. Slimmon MA MBA (vice chair,. chair of K.C.S Enterpri5e5) Mr A.M. Stockil BA MBA Mr P.J.L. Strafford BA MBA Ms J. Whyte (resigned June 2024) Members of the Finance and Planning Committee: Mr G.C. Slimmon MA MBA (chair) Lord Deighton KBE Mr D.G. Ingram MA Mr l.A. Macmillan Bsc ACA MBA Mrs A. Ng Bsc FCA Mr R.J. Parker MA (F&P chair from 1.8.24) Members of the Governors, Appointments Committee.. Mrs J.G. Sarpong Bsc MBA (chair) Lord Deighton KBE Mr D.G. Ingram MA Ms J.L. Robinson BA PGCE MEd Mr G.C. Slimmon MA MBA Members of the Education Committee: M5 J.L. Robinson BA PGCE MEd (chair) Mrs S.A.B. Hobbs BA PGCE Mrs J.A. Larizadeh BA PGCE Mr J.A. Prager BA Members of the Safeguarding Committee Dr S. Gawley (chair) Mrs S.A. Bennett BA Mr D.G. Ingram MA Mrs J.G. Sarpong Bsc MBA Ms J. Whyte (resigned June 2024) Members of the Equality Diversity 2nd Inclusivicy Committee Mrs J.G. Sarpong Bsc MBA (chair) Mr T. Oki BA

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Mr J.A. Prager BA Ms J. Robinson BA PGCE MEd Members of the Estate Projects Implementation Committee: Mr D.G. Ingram MA (chair) Governor Board Members of K.C.S Encerprises Limited: Mr G.C. Slimmon MA MBA (chair Mr R.J. Parker MA Governor Board Members of King's College School Wimbledon {International) Limited.. Mr C.G. Hale MA LLM Mr P.J.L. Scrafford BA MBA Mr A.M. Stockil BA MBA OFFICERS Head Dr Anne Cotton BA, MA, Mst, DPhil (Oxon), M.Ed. Headmaster of the Junior School Mr EH Lougher BA Hons PGCE MSC (Oxon) Bursar Mr Andrew Stewart (acting bursar 1.8.23-16.4.24) Mr Dave Navarro Bcom (Hons) I LLB (bursar from 17.4.24) Addre55'. King's College School Southside Wimbledon Common London SWI 9 4TT www.kcs.oi" 020 8255 5300 ADVISERS Solicitors; Farrer & Co 66 Lincoln's Inn Fields London WC2A 3LH

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Auditors.. Crowe U.K LLP Registered Auditors 2. Floor 55 Ludgate Hill London EC4M 7JW Insurance Brokers: Marsh Limited Capital House 1-5 Perrymount Road West Sussex RH16 3SY Bankers: Natwest 16 Wimbledon Hill Rd London SWI 9 7NN

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 The governors present their annual report, together with the audited financial statements, for the year ended 31. July 2024. The report covers the 2Ctivities of The Corporation of King's College School, which owns, operates 2nd manages King's College School I'the senior school,), King's College Junior School I'the junior school,) and Wimbledon Common Preparatory School {'WCPS'I. The senior school, junior school and WCPS are together called 'the schoo15'. The senior school and junior school are together called 'King's'. REFERENCE AND ADMINISTRATIVE INFORMATION Reference and administrative information 15 Set out on pages I to 3 and forms part of chi5 report. The financial statements omply with current statutory requirement5 and the Statement of Recommended Practice "Accounting and Reporting by Charities" (Second Edition, effective I january 2019)("SORP"). STRUCTURE, GOVERNANCE AND MANAGEMENT History and Constitution King's College School was founded by Royal Charter in 1829 as the junior dep2rtment of King's College London. In 1897 King's College School moved from its premises in the Strand to its present site in Wimbledon. In 1909, by virtue of the King'5 College London (Transfer) Act 1908, King's College School became separately incorporated and all the powers, duties and funccions of the Corporation of King's College London passed to the newly constituted Corporation of King's College School ('The Corporation,). The Corporation holds charitable status and is registered as number 310024. The Corporation The Statutes of the Corporation were revised by a scheme sealed on 24 October 2008 by the Charity Commissioners and amended by resolution in December 2010, March 2011, December 2014, March 2018, December 2018 and December 2019. The following are eligible for membership of the Corporation: Governor5 elected at a general meeting of the Corporation, held annually in January. People unconnected with the schools who have contributed £1,500 for the purposes of the Corporation. Former pupils or parents of pupils or former pupils of King's College School who have contributed £500. Members of staff of King's College School who have tontributed £ l 00. iv The Corporation currently has 771 members living in all part5 of the world. Presently. 571 members are contactable by the Corporation. A detailed report on the Corporation's progress during the previous year is submitted by the chair of the governing body at the Corporation s annual meeting in January. The Governing Body The governing body consists of up to 26 members, of whom one, the Bishop for the time being of the Diocese of Southwark, is an ex-officio member., twelve are ippointed by the Corporation,. four are ippointed to represent academic institutions and the remainder are co-opted member5. Provision 15 made for the appointmen¢ of the following representative governors.. Two by ehe Council of King's College London One by the Hebdomadal Council of the University of Oxford One by the Senate of the University of London Each of the governors (except the ex-officio governor) is appointed for a term of three years and may serve up to four terms. The governing body has i Governors, Appointments Committee which recommends potential candidates as governors. The Committee particularly considers diversity, competence, specialist skills and availabi5ity. New governors receive induction training from the head and other officers of the school as appropriate. Governors also receive training from appropriate external organisations.

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Organisation Governing body The statutes require that the rights. powers. duties and functions vested in the Corporation are to be exercised by the governing body on its behalf. Accordingly, the governing body has power to decide matters of policy relating to the schools and to make mijor decisions affecting the affairs of the schools. It is specific211y required to keep accounts, to determine tuition fees and salaries, to make senior appointments 2nd to take responsibility for the Corporation's estates, buildings and equipment as well as for Health and Safety. Implementation of the governing body decisions is ultimately the responsibility of the head, who, with the bursar, oversees the business and support side of the Corporation. Committee member5 are shown on pages 1-2. The governing body retains overall responsibility and meets at least three times a year. It also holds a regular strategy d2y to examine Strategic matters. The board focused attention this year on the implications of the government's imposition of VAT on independent school fees, finalising the School's revised mi55ion and aims and subsequently embedding them in the daily life of the school, the new strategic plan to 2029 (which is the school's bicentenary), inspection, the establishment of the new King's College School bursaries foundation, futures education and staff welfare as well a5 maintaining its long-term focus on EDI, partnerships 2nd growing non-fee income. The governors were delighted to acquire a new local education site in Wimbledon and are carefully considering how best to use it to maximise the school's educational offering. The Finance and Planning Committee sits at least four time5 a year prior to governing body meetings. Its remit is to monitor and direct as appropriite the financial affairs of the school, including bursary provision, budget setting, fee setting, remuneration and reviewing management account5. This year, the committee focused on VAT, the establishment of the new King's College School bursaries foundation, tendering the atjdit contract and selecting a new accounting system as well as maintaining its careful monitoring of the teachers. pension scheme. The Education Committee sits once a term. It assists and support the head and the junior school headmaster in their oversight of educational provision at King's. It scrutinises key policies and receives reports from members of academic staff. The safeguarding committee meets termly. The committee assists the governing body in fulfilling it5 oversight responsibilities for safeguarding at the school and provides additional support for the nominated safeguarding governors. It agrees, monitors, reviews and evaluate5 all relevant policies, Strategies and procedures including staff 2nd governor training 2nd pupil feedback. The Estate Projects Implementation Committee (EPIC) monitors and directs ill major expenditure on capital projects 2nd oversees the school's Environmentsl and Sustainability strategy. This year the commitcee reviewed the estates development plan and environmental initiatives as well as carefully considering the capital purchase of the new local si¢e. The Governors. Appointments Committee {GAC) identifies current or future strategic gap5 of personnel on the main boird or its sub committees, making recommendatioris on appointments to the board. The Equality, Diversity and Inclusivity Committee meets termly and is chaired by the governor with responsibility for ED&I. This committee oversees matters relating to ED&1 in the school. Whilst no standing committee exists to hear appeals. disciplinary matters and comp12ints, a governor is nominated as a standing chair and other members are selected, based on availability and skills, should such 2 committee be required. This committee, when formed. is known as the Appeals, Disciplinary and Complaints Committee (ADCC). The Health and Safety governor meets with the bursar and the deputy bursar to review the annu21 Health and Safety report. A governor oversees the schools, compliance with GDPR. The appropriate members of the Schools, executive attend all governors, meetings other than the Governors, Appointments Committee, which the clerk to the governors attends.

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 There is a rota of policies for sub committees 2nd the main boird to approve. the board receives i full and comprehensive audit and report on safeguarding of all che Corporation schools annually. An update is a150 provided on safeguarding and ompliance each term. The board receives termly reports from the heads, detailing school accivities and progress against the strategic plan. The head and the headmaster of the junior school present termly to the GB and the Education Commitcee on progress and the head of WCPS presents to both annually. Governors, involvement in school life In addition to committee responsibilities, governor5 may be assigned a special interest which enable5 them to 5UPPOrt specific aspects of school life, li2ising directly with staff 2nd pupils as appropriate. Governors regu12rly attend school productions or pupil and staff events as appropriate. The Education Committee receives an update from a different department from the junior school alld l or Senior school at every meeting and meet5 Staff informally. The boird also 5et5 aside time during each board meeting to consider one specific aspect of training, school strategy or operation. Thi5 year, the board received presentation5 on the financial landscape for schools, inspection and in-house teacher training and development. Management board The head, the headmaster of the junior school, the deputy heads of the senior school and the junior school, and the bursar form the Management Board, which meets half-termly. The finance director and director of development are non- voting members. The Management Board oversees the gener21 ind administrative manigement of the schools and reports to the appropriate governor committee depending on the matter being considered. This year the management board focused on the revised mission and aim5, the new operational plan developed to support the new Strategic plan, and on Staff welfare, inspection, bursaries, digital strategy, and school routines as well as maintaining its review of EDI, safeguarding, pupil welfare, pupils, academic progress. staffing matters, inspection and school finances. The board also regularly reviewed KPIS, health 2nd safety, complaints and the risk register. The members of the management board also form the policy scrutiny groupi which meets half termly to review policies according to a planned schedule. The head of compliance is a non-voting member. The Pre-Prep Management Board meets termly and consiscs of the headmaster and deputy head of the junior school, the head of WCPS and the bursar. The finance director is a non-voting member. The heid also attends these meetings. This year, the pre-prep management board maintained its review of academic matters, sifeguarding, health and safety, KPIS, Staffing, inspection preparation and pupil numbers and agreed plan5 for internal remodelling co create another Reception classroom. Related Entities The Corporation has two wholly owned trading subsidiary companies; K.C.S Enterprises Limited, which is responsible for managing the sport5 club, school shop and the commercial letting accivities of school facilitie5, and King'5 College School Wimbledon (International) Limited, which 15 responsible for managing the schools, commercial overseas educational activities. In line with Charity Commission guidance, the governors ensure that the charicy maintains appropriate connections with these trading subsidiaries and regularly 2ssesses the potential risks to the charity from these trading activities. These ire logged in the charity's risk management mitrix and in each subsidi2ry's risk management matrix. Further detai15 on these companies can be found in note I l. K.C.S Enterpri5e5 Ltd This is a separate entity whose entire share c2Pit21 is owned by the Corporition of King's College School. K.C.S Enterprises has its own board, chaired by one of the main board governors, which meets twice yearly and reports to the governing body. The managing director of KCS Enterprises reporcs to the bursar. K.C.S Enterprises manages the school shop as well as lettings throughout the site. It is also responsible for the running of the King's Club. which operates the school's sport5 facilities on a commercial basis. King's College School Wimbledon (International) Ltd This is a separate entity whose entire share capital is owned by the Corporation of King's College School. King's College School Wimbledon Ilntern2tional) has ics own board, comprising three main board governors, an external director and

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 three senior staff, which meets termly and reports to the governing body. The director of international schools reports into the head. He meets regularly with the head and produces an annual budget and termly reports. In China, KCSW(I) works with three schools in a consultancy capacity. It opened a school in Bangkok in September 2020 and signed a licence and service contract with an existing School in Monaco in August 2020. A contrict to open a school in Vietnam was signed during the year. KCSW{l} works closely with the operator in the territory in Bangkok and with the executive teams of all overseas schools. Two representatives from King's sit on the governing body of the Bangkok school, one is 2 former King's Chair of Governors, and one is the current Chair of KCSW(I). There is no finincial commitment from King's or KCSW(l} to new ventures abroad. KCSW(l) continues to explore further opportunities in territories identified as having a demand for British independent educition and is also approached by potential partners interested in collaborating. Risk is managed through careful selection of partners, who share King's values 2nd commitment to delivering high academic 5tandard5 a5 well as levels of pastoral care, and by putting appropriate systems in place to ensure that the overseas operations do not impact on the provision of education in our core UK schoo15 or on the reputation of the Corporation. All contracts with international partners are entered into via the trading subsidiary KCSW(l), not the Corporation of King's College School. King's College School bursaries foundation A new foundation has been set up to fund bursaries. It wa5 registered with Companies House in March 2024 and will be registered with the Charity Commission in autumn 2024. Trustees have been appointed and their first meeting was October 2024. Other related entities Information on the Old King's Club is set out in note 23 to the Accounts. The membersof King's College School are generous contributor5 to a wide variety of projects benefiting the pupils of the Senior and junior school, as are the Friends of Squirrels. Their support is warmly 2cknowledged,' the Friends of the schools gifted £74k to the Corporation during the year. Further information is provided in note 24 of the A¢count5. Risk Management The governing body is responsible for overseeing the m2nagement of the risks faced by the schools and Corporation. Detailed oversight of risk is delegated to the Finallce and Planning Committee. Risks are identified, assessed, and controls established throughout the year. Risl<s are managed through dedicated time being assigned to identifying the risks issociated with key strategic initiatives and operationil ictivities, mitigation measures put in place with clear actions identified, undertaken and reviewed. This is a continuou5 process that feeds into formal agendas of the Governing Body and its committees. The risk register is reviewed regularly by the Management Board. Risks are assigned to the member of the Management Board who is best able to manage them. The key areas of risk identified in the period of thi5 report were: Financial: Careful consideration was given by the executive, the Finance and Planning Committee and the Governing Body to the l O year financial projectiOll5 of the Corporation and potential scenarios that may impact on financial health. National and international policy and the costs of the teachers, pension scheme were all considered 2s possibly negatively impacting the Corporation's finances. Scenarios of likely impact were presented and discussed at key meetings throughout the year, 2Ctions agreed 2nd projections amended accordingly. Operational: Cyber security remained an important area offocus during the period. A health and safety committee meets termly and the bursar and his team carefully monitor 2nd control health and sxfety policies and procedures. Site security and safety checks are carried out via a system of multi-level site checking, this includes visual inspection5, 2 checklist and a maintenance reporting system. The head of compliance oversee5 policies and monitors regulatory and legislative change5. All policies are reviewed on regular cycle. A range of educational visits 2nd trips is offered

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 every year as part of a broad and balanced curriculum and a strict set of guidelines is adhered to when planning and conducting trips. Safeguarding: The executive team has focused on supporting pupil and staff mental health wellbeing which is an essential part of our safeguarding work. PSHE provision has been reviewed and revised and many staff have benefited from our sector-le2ding programme of in-house training. An annual audit is carried out to ensL¢re that the school's provision in the area of safeguarding represents best practice. A large number of staff are now trained in Youth Mental Health First Aid. Monitoring and supporcing pupils, welfare is at the heart of safeguarding across the whole school. A governors, safeguarding committee meets termly, providing opportunities for rigorous Scrutiny of the school's practice 2nd its action plans. Pupil Numbers: Recruitment to all three of the Corporation's schools remains steady, with demand remaining strong for p12ces at all entry point5. The average number of pupi15 from September 2023 to July 2024 in the senior school was 1221, in the junior school was 286 and in WCPS was 166. Equalityi diversity and Inclusivity.. The school's commitment to Equality and Inclu51Vlty remains a central guiding principle. The school has a director of EDI and a governor EDI committee. The overarching objective is to embed EDI at every level of the school. Of particular noce during the period was the number of pupil societies and advocacy groups, work on race, the changes to PSHE provision and the work on the Wimbledon Charter with other local 5choo15. EDI KPIS have been developed and are reviewed regularly by governors. Work also continued on expanding the bursary programme to assist those who achieve the academic entry requirement5 but do not have the means to join the school. Cost of the support staff defined benefit pension scheme recovery plan. As agreed with the Truscees, the current payment plan by the school ended in summer 2024 and the school continued and will continue to monitor carefully and foreta5t prudently on this risk element. C05t of remaining an employer within the Teachers, Pension Scheme. The governor5 continued to carefully consider the financial impact of remaining within the scheme, given the increases in employers, contributions in recent years. The governors maincained their conclusion that this was still an important and appropriate benefic to offer teaching staff in the interescs of recruiting and retaining staff of the highest calibre and the Corporation does not currently plan to leave the scheme. Governors continued to monitor developments Wlth peer group schools in the sector and to assess the affordability both of the current level of contribucions and any further rises. The school developed an alternitive pension scheme that is offered to teaching staff as an alternative to the TPS. Reputational: The executive and the Governors are aware of and regularly discuss activities and issues that may impact reputationally on the Corporation. Issues such the nationil political context and pocential policy changes, our international operations, the actions of pupils 2nd staff, 2nd adherence to our policies and procedures were 211 carefully examined to ensure thit the school adhere5 to the Corporation's value5 and strategy and act5 in line with the requirements of the Charity Commission and the Independent School Standards. Through the risk management processes established for the Corporation, the governors are sitisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that Systems can only provide reasonable but not absolute assurance that m2jor risks have been adequately managed. Energy and the Environment Whilst not required to report under SECR (Streamlined Energy and Carbon Reporting) guidelines, the school remains focused on reducing its energy consumption ind on environmental and 5U5tainability issues. The largest proportion of emissions arise from gaseous fuel combustion, primarily for heating and hot water. As schools require a comfortable environment for student and scaff wellbeing, this is as expected. The second largest proportion of emi5519115 arises from electricity usage, primarily for lighting, ventilation systems, kitchen equipment and IT. King's College School procures only l OO/. Renew2ble Generation Guirantee of Origin (REGO) Certified Electricity. resulting in Zero Carbon Emissions ittributable to Scope 2 Electricity Generation. However, the requirement5 of the Streamlined Energy and Carbon Reporting (SECR) Scheme, require that Grid Electricity or Local Grid Electricity (Market Based) Emission Factors are used to reporc on Scope 2 Emission5.

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 The school is required to complete a ESOS (Energy Savings Opportunity Scheme) assessment which his been done. The ESOS assessment 15 concerned with energy use rather than emissions and examines the total energy consumption along with areas of significant energy use and is based on 12 months of data, Particular focus is given to items Such as double glazing for windows and LED lighting. For previous SECR and ESOS reporting the school has eng￿ed the services of the utility broker Zenergi and it is proposed to use their services again for both through to 2025126. In july 2025 the school's fixed energy tariff expires and tariff reviews with Zenergi are ongoing to ensure the school 15 informed of the best point to secure energy for either a 24 or 36 month period. The school continues to strive for direct savings in energy and associated carbon emissions, through implementing the Eco Audit Action Plan with operational and technologic21 improvements, inclyding.. Upgrading of Energy Metering and accessible Energy Data via web-based energy portals, all Half Hourly Electricity Meters are now online, the school have used the Energy Data to host Low Power Days, measuring the difference in consumption, which has led to identifying areis opportunity to further reduce electricity consumption. Ga5 meters have been upgraded to provide energy data including None Half Hourly Electricity Meters. Water meters have also been installed in school buildings. Sustainability and maintenance projects hive included LED lighting upgrades. ensuring insulation in all buildings. installing more energy efficient equipment in washrooms 2nd ensuring available recycling facilitie5 school-wide. Improvements in Building Management System5 (BMS), which now controls 90/0 of the school's estate, for Heating, Cooling and Ventilation, have also continued and include heating optimisation, installing C02 Monitors to display room temperature, reviewing building heating times, school heiting system and setting optimised temperatures. In December 2022 the school began the installation of i borehole at the main school site. The project wa5 completed in September 2023 with our abstraction license from the Environmental Agency allowing us to extract 84m3 per day during I" April to 30 September. In the first year the school has seen 5i8nificant savings, and this has proved a viable cost saving measure and should be considered for our Kingsway site. The catering department continues to operate a ban on single use pla5ti¢ as well as examining ways to improve sustainability with Suppliers, such as reducing the number of deliveries with the use of multi-climate vehicles. OBJECTS, AIMS. OBJECTIVES AND ACTIONS Charitable Objects The Corporation's principal object, as set out in the Statutes, is the advancement of education. There ha5 been no change to the objects during this year. Aims In meeting the objects, the Corporation supervises the schools which are independent day schools for pupils who are educated up to19. The schools are committed to equality, diversity and inclusivity and have the pastoral Care of pupils at the heart of all that they do. The schools seek to provide icademic education of high quality, extended by a broad range of cultural and co-curricular opportunitie5, and Supported by 2 responsive and sensitive pastoral system. The Corporation recognises its charitable role within the wider community and it5 duty to develop responsible, respectful citizens. all pupils of the schools are encouraged to think independently, to engage actively with their wider communities, and to make a positive contribution in the world. The Corporation also co-operates with local schools, charities and other org2nisations to widen public access to the schooling provided and its facilities. In furtherance of these aims, the governing body has complied with the duty in the Charities Act 2011 to have due regard to the Charity Commission's published general guidance, where relevant, concerning the operation of the public benefit requirement under that Act. The aims of King's College School The aims were extensively revised during the year Lnd reflect our foundation as the junior department of King'5 College London nearly 200 years ago. From the start, our pupils have been encouraged to lead their lives 'with holiness and

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 wisdom,, in the words of our shared motto, and to look to the positive contribution they can make in the world, with the heart of our lion. Today, as we adapt to our fast-chinging Context, our mission is to offer a true education in Mind, Spirit ind Heart, the enduring values of our foundation, Ind to furnish our young people with the very best preparation to create their futures in the world beyond school. As a school, we want each of our students to enjoy an exhilarating 2dventure of learning and to pursue academic excellence in a fun, caring and welcoming environment. We want our pupils to grow strong in spirit and in our shared values as they become the person they are inspired to be. And we want to prepare our young people for life at 25 $0 that when the time comes, they are ready to strike out for the world beyond school, to forge the pithway they ch005e, and to make a purposeful impact in the world. Our aims for members of the King's communityi which were presented to the AGM in January 2024, are: MIND: embrace the joy of learning and inquiry within and beyond the classroom pursue academic excellence and fulfil their personal potential SPIRIT: through l<indness, respect, and supporc for one another, together create a caring 2nd welcoming culture in which each individual may belong 2nd thrive contribute ictively and purposefully within the King's community and our wider communities, and make i p051tive impact in the world beyond School HEART: give of their best in 211 they do, as they develop their own individual purpose and passions, inspired by curricular and co-curricular opportunity 6. be prepared for the world beyond school, with the skills and values for a fijlfilled and purposeful life. ready both to serve and to lead The governors ire satisfied that the school has closely examined its delivery of these over-arching aims this year and has sought external guidance and support where appropriate to do so. Objective5 for 2023124 Particular objectiYe5 during 2023-24 were to.. Establish an endowment fund and extend bursaries provision. 2. Build foundations to extend our network of international schools. Continue to collaborate with local partners, including through events such is King's Arts. 4. Continue to develop opportunities for the development of the whole child, through our co-curriculum. voice and advocacy, fucures provision. Embed extended partnership with Harris Academy Wimbledon IHAWI) in the first year of the sixth form. 6. Continue to invest in improving our facilities through a comprehensive programme of planned maintenance works and specific capital inve5tmencs. 7. Ensure that equality, diversity and inclusivity are at the centre of 211 King's doe5. Recruit, retain, develop and support high quality staff and extend welfare provision to staff. Launch Sapienter, the school's CPD programme, to King's staff. international and p2rcner communitie5 Actions to achieve objectives The legal and charitable paperwork to establish the endowment fund was completed during the year and trustees appointed. The first meeting of the trustees took place in October 2024. A programme to encourage bursary applicacions was launched during the year. Much work has been done on international business development and a number of promising projects have been pursued. A new concract was signed for a school in Vietnim. The school greatly values its Partnership work and is proud of the activities undercaken under this umbrella, which are detailed below. The second King's Arcs festival was a great success with around 2,000 visitors attending 13 public events. The School has continued to focu5 on its excellent co- and extra-curriculum provision. Opportunities for pupil voice and leadership have continued to expand, including the establishment of a mirror board. The school has continued to invest in the partnership with Harris Wimbledon. 35 HAWI pupils jointly led a series of Friday afternoon community projects with King's pupi15 throughout the year. King's staff subject co- 10

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 ordinators have been liaising closely with their respective corresponding departments at HAWI in the first year of A level teaching at the school. The Careers and Higher Education team have given presentations to staff. parents and students at HAWI to support them in their first round of UCAS applications. The school continued with its estates refurbishment plan which aims to maintsin the school's excellent facilities. 2023124 saw the refurbishment of science labs, classroom refurbishments, repairs to the roof at Kingswayi the final phase of the refurbishment of the Reeve building, improvements to the Clifton Road entrance, additional furniture for the sixth form centre and various health and safety improvements such as fire alarm upgrades and inst211ation of ventilation. Accessibility is always considered in any refurbishment project Carried out ind work Was done during the year to action the recommendations from the accessibility audit conducted in November 2023. The main focus of environmental improvements during the year was waste management, which had been identified as a focus by pupils. EDI remain5 a central focus for the school, with work undertaken during the year on r2ce and faith issue5. amending recruitment materialladvertising following recommendations from ACEN, staff training. neurodiversity, the Wimbledon Chirter, further development ofadvocacy groups and an expanded programme of EDI events. Stiff welfare has been 2 m2jor focus this year, with the staff welfare committee meeting regularlyi increased use of wellne$5 action plans and a significant number of Staff completing mental health training. The school's in-house teacher training programme was launched. We are now using our in-house CPD platform, Sapienter. to deliver training course5 both for colleagues at King's and internationally. This year, seven pilot courses received p051tive feedback for engagement and practicality. The 2024-25 plan includes expanding these courses into broader modules with a mix of live and on-demand sessions, culminating in certifications. The planned programme for next academic year will offer extended courses of this type in three key areas: Assessment and Feedback,. Pastoral and Wellbeing,. and Advanced Classroom Practice. In addition to the objectives above, the school maintained its focus on safeguarding 2nd wellbeing which have remained a key priority, with work during the year including c105e attention to pupil 5UPPOrt and education in wellbeing, revision of PSHE programmes, staff triining, the enhancement of our counselling provision and the development of our wellbeing room facilities and mental health ambassadors programme, Principal Activities during the Year During the year. the Corporation has provided education at its site in Wimbledon as follows.. Average number of pupils 2023124 2022123 Age King's College School King's College Junior School Wimbledon Common Preparatory School 1221 286 166 1193 284 170 1673 1647 Public Benefit The Corporation provides education to 1,673 pupils who would otherwise be educated in maintained schools at public expense. The Corporation recognises that it hxs wider responsibilities to the community at home and abroad and to assist in miking the education offered at King's more accessible. There are three additional element5 in the public benefit it provide5.' bursaries. partnership5 and community projects. and community access. The Corporation has had due regard to the Charity Commission guidance on public benefit. Bursaries It has always been the policy of the governing body that the distinctive all-round education offered by King's should not be restricted only to those lamilies who could afford the full fees. The governors p051tively encourage applicants from diverse religious, ethnic and financial backgrounds. The Corporation sets aside funds, and raises money, to support scholarships and means-tested bursaries. In particular, the Corporation has been building a bursary fund from various income source5 to support future requirements. Bursaries, which range from l 0/0 to l OOYO ol the tuition fees, plus extr2S, are offered to parentslguardians of pupils who could not otherwise afford to send their children to King'5 based on a 11

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 comprehensive assessment of financi21 need, using external a55essors. These bursaries are re-assessed annually and may change during 2 pupil's time at the school depending on changes co their financial situation. In 2023-24, the senior School provided entrance bursaries it various entry points between age5 1 I to 16 as well as financial assistance in both the senior school and the junior school to those who have a change of circumstances which makes paying the fees difficult. Bursaries of up to l 00/0 of the fees plus extras are available, subject to the candidite meeting the school's entrance requirements. Depending on need, bursaries can ilso include support for uniform, transport and lunch costs. In the year ended 31" July 2024 the Corporation gave fee remission for bursaries to 73 pupils aggregating £1,677,00012022-23.. 80 pupils aggregating £1,602,000) which has been shown in these accounts. Included in these figure5 are l 00% bursaries awarded to 45 pupils, of which 26 were l OOY.+ Funds for bursaries are provided from donations, and from the Corporation's trading companies (KCS Enterprise5 Limited and King's College SthooS Wimbledon {International) Limited). Partnerships, Outreach, Community Projects During 2023-24, the King's partnership programme continued to develop and expand. The community project programme on Friday afcernoons enabled almost 440 King's pupils to take part in weekly activitie5 with a variety of local schools and organisations. Through the new 51Xth form partnership with Harris Academy Wimbledon (HAWI), a further dimension was added to many projects this year since HAWI and King's pupils co-led Spanish at HAWI, Latin at HAWI 2nd Maths at Poplar primary school as well as Book Clubs at both Southme2d and Merton Abbey primiry schools. The pupils enjoyed worl<ing together and HAWI pupils commented that the benefit5 Of taking part in these projects included. the 'ability to emph2sise and relate with the King'5 pupils in order to work better as a team,, 'being able to build a community and connect with new people, and 'having a similar mindset in the way we teach and learn,. In addition, a number of new partnership project5 were added. Writers in Residence with Rutlish and Ricard5 Lodge schools enabled King's pupils to lead tailored creative writing worl<shops. Reading support ac Knollmead primary school was focused on reinforcing key vocabulary. Sport5 at Merton Abbey, which was co-led by HAWI pupils, enabled all to develop sports skills and leadership abilities. Furthermore, Junior A5piration5 was expanded from catering for 20 pupils at five primary Schools to 32 at eighc primary schools. One pupil said that the best thing abouc the programme was 'learning in a collaborative and calm environment with people and ceachers there to help you,. During the course of the year, the percentage of junior Aspirations pupils who stated that they enjoyed asking questions in class rose from 767¢ to 93/.. During the spring term as part of the Jazz in the Community project, King's pupils worked wich year 6 pupils from Merton Abby Primary and Merton Music Foundation to coach them in Blue5 music. Each session King's pupi15 joined forces with their year 6 group to teach them about rhythm, improvisation, and the blues scale in interactive and engaging ways. This venture culminated in 2 concert attended by parents and the Mayor of Merton, where all pupils showcased their musicality and improvisation21 skills by Singing, playing. and most imporcantly demonstrating the joy of engaging in collaborative music. We were all delighted when the Mayor requested thac the King's band play 'a slow blue5 in G, to accompany her singing,. it trin5pired that She had been a professional jazz singer before becoming a councillor. On the last day of the spring term, a total of over 150 King'5 pupils and students from eight different Partnership schools tool< parc in the community production, The Time Mochine, in the Collyer Hall Theacre. This was the culmination of an ambitious cwo-term collaboration between King's and Bond Primary School, Coombe Girls, School, Cricket Green School, Harris Academy Wimbledon, Perseid School, Raynes Park High School, Ricard5 Lodge High School l RR6 and Wimbledon College. Pupils from chese schools formed a company of over 150 actor5, Singers, musicians, comp05ers and backstage technicians. They were supported by fabulous props, als0 made by artists and engineers from King's and Bond Primary school. It was obvious that all involved adored taking parc and that they had learnt 2 huge amount during the rehearsal process. The final song featuring the full ca5c on stage was tremendous. During the spring term over l OQ partner school Wimbledon ISSP pupils in Year I l attended GCSE reinforcement classes in Maths, English, German, Spanish, French, Biology, Physics and Chemistry taught by teachers from King's on a weekly basis. These classes gave the studencs the opportunity to consolidate their knowledge in preparation for the public exams. One pupil said, '1 feel more confident in answering question5 for the actual exam,, whilst another said, 'They were great. We went through a number of topics and some in depth subjects. Just before the class I was at 1 6, 1 just got my exam results and I got an 8 in my March mocks, and a third added, 'They were very helpful,. the teacher5 were very kind and helped me underscand the subject matter better. Explanations were very thorough and the lesson5 were very engaging and interactive. On a personal level, I felt very welcomed at King's College., 12

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 During the course of the year, a number of events were run as part of the senior aspirations programme for partnership school pupils who would be first generation university scholars. In the spring term, 80 Year 9 partnership pupils from eighc partner schools attended a captivating performance of Romeo and Juliet at The Globe Theatre. Before the play. they participated in a workshop at King's, where they delved into portions of the play and even acted out scene5 together. One pupil said that the highlight of the workshop was, 'acting out the scene and understanding the love between Romeo and Juliet,. All agreed that it was really interesting to see the play performed in i replica of Shikespeare's theatre, and one pupil added, 'It was interesting to See the interpretation of the story being different and more modern,. A third student said the best bit wa5 'the ellergy and passion the performers put in,. Whilst during the summer term this year a group took part in academic worl<shops focusing on creative writing, Psychology, Philosophy 2nd Engineering led by King's pupils 2nd st2ff. One pupil said, 'These workshops inspired me to consider career paths I had not before,. 89Yo Stated that confidence levels had increased as a result of the workshops. Year l O pupils vi51ted King's College London (KCL). They attended a taster lecture about International Relations, enjoyed a tour of The Strand campus and had the opportunity to isk current KCL students questions about university life, the application process and academic work. All agreed that the vi51t was extremely helpful in enabling them to find out more about universi¢y courses and one pupil added, '1 have learnt about how to apply and what is needed to have a good chance of getting accepted., Another said, the best part was 'the lecture, it was so different to what I was expecting compared to lessons at school,. This year group also attended a performance of Kin at the National Theatre. The pupils involved, attended practical workshops prior to the National Theatre performance to understand more about the company's theatrical style. The highly moving play, devised and performed by the Gecko theatre company's ensemble of international actors, explored themes of migrition, racism, empathy and home. The story unfolded through the mediums of movement, light and the native language5 of the actors, all of which was accompanied by original music throughout. The students were inspired by the experience, with many commenting that they had now learnt that communication could take place withoLSt dialogue. One student added, '1 learnt that music 2nd lighting is just as important as the 2Cting', another stated, 'You don't only need your voice to be able to act and convey your message, 2nd 2 third thought, 'If you are not moved by this play then you truly have a heart of stone,. Towards the end of April, 30 year l O students attended a debating workshop at King's. At the beginning they had the opportunity ¢0 ask Stephen Himmond questions about his role as an MP. They then learnt about how parliamentary debating work5 and at the end of the day took part in their own debate. One student Said, 'The year 125 that were involved from King'5 were amazing: they really made it interesting,, whilst another added, '1 loved working with other schools, arguing the points with my friends and then laughing afterwards,. This was followed by 2 Vlslt to parliament during the second half of the summer term. The visit enabled the students to tour the building, learn more about British democracy and the history behind the Palace of Westminster. One pupil said that the trip had made them 'think more about voting,, whilst another said, '1 learnt how Bills are created, and a third added 'the visit made me want to do my own research on this,. At the end of the academic year, this cohort took part in workshops in Economics, Computing and Greek led by King'5 stsff and pupils. The pupils mentioned that the workshops inspired them not to use Chat GPT since it could be unreliable, and to explore Economics more in the future. They were also highly inspired by the Greek linguage 2nd particularly the Greek alphabet. During the autumn term Year I l attended 2 bespoke outreach day at Royal Holloway. Thanks to presentations by student ambassadors 2nd lecturers from the college, the pupils heard about the wide variety of courses available, had the opportunity to tour the campus ind attended a Geogr2phy lecture to demonstrate the style of university teaching. At the end of the day, all agreed that the visit was useful in finding out more about university study whilst one student said, 'Getting to see how the uni was like a community...made the whole concept seem less daunting, and a second added, 'le2rning about the different societies and the campus tour was really interesting,. The final session for the yeir I I s was focused on university and included consideration of possible pathways after leaving school, including degree apprenticeships. Towards the end of the summer term the second King's Arts Festiv21 took place, bringing our communities together to celebr2te the uplifting and transformative power of the arts. This on-campus summer celebration of the art5 featured 2n array of performances. talks. concerts, exhibitions and workshops. This enabled pupils from four partnership schools to combine with King's pupils and alumni to take part in a massed performance of Zimbel by Alexander L'Estr2nge. The pupils rehearsed over the course of three months in preparation for the event which proved to be a wonderful coming together of singers aged from 8 to 18 from across the Borough of Merton accompanied by in instrumental ensemble featuring saxophone, piano, drums, double bass and orchestral percussion. The repertoire was based on a fusion of jazz 13

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 2nd sub-Sah2rin African music. It was wonderful to welcome back a number of King's alumni to take part in the performance. Furthermore, pupils from HAWI, Wimbledon College and Ursuline worked alongside pupils from King's a5 Arts Ambassadors and Ushers to run the front of house for the festival, wearing specially commissioned King's Arts T-shirts. Other events included 2 Strings showcase concerc which included 90 pupils from six partnership schools as well as King's performing with members of the Philharmonia Orchestra, mascerc12sses with Sir julian Lloyd Webber, an origin21 play, UTbder the Glincing Snow and a band showcase with Wimbledon College, King's and HAWI pupils. King's Arts was open to the whole King's community including pupils, parent5, staff, partnership5 schools, families and the general public. At the end of the academic year the Open Doors Project took place. This involved 120 pupils from four primary schools taking part in sports and 60 from two primary schools devising a theatrical show Journey through time,. The project was led by student leaders from King's and two partner secondary schools Wlth the final performance and tournament attended by parents and teachers, as well as the Mayor of Merton. The new Sixth Form Pirtnership with Harris Academy Wimbledon has gone from strength to strength this year and, in addition to the community project collaboracion already mentioned there was a jointly run university fair and a series of talks to enrich the academic curriculum, inspiring curiosity. Furthermore, pupils took part in a series of career networking events alongside King's pupils. We continue to offer UCAS support to Oxbridge and medicine applicants, and we have continued to have a high number of pupils engaging with our support. 36 pupils from Grey Court, Hollyfield, Ricards Lodge, Rutlish, Richmond Park, Ursuline, Wimbledon College, St Mark's and Raynes Park High School received individually-tailored 5upporc for their applications through attending extension classes, receiving personal statement support and advice, and attending mock interviews in person or over video call. Of those 33 pupils, 20 were called for interview by Oxford or Cambridge, and nine were offered places. Our partnership with Hirris Academy Wimbledon continues to benefit our teachers develop as prictitioners as they work towards qualified teaching status. One colleague in Chemistry completed & three week placement at Harris thi5 summer. King's also hosted a placement for a PGCE student in modern foreign languages this year. Furcher PGCE placements are planned for the next 2c2demic year. Jo Larizadeh, Head of Harris Academy Wimbledon, continued as a governor of King's this year, with several King'5 Staff serving is governors of local schools. The school hosted its first summer business School which included an array of activities and a host of skills workshops. giving pupils the chance to learn the A to Z of busine55 and entrepreneurship from ideation and business planning to equity investment and business ethics. King's Business School ran for 2 week in July with 51 pupils from King's and partnership schools learning from some of the country's brightest business mind5, including expert 5peal<ers Robert Abrahams (co-founder of COAT paincs}, Jon O'Donnell (CEO of Mopsus All, Michelle Kennedy (founder of Peanut), Will Dean (co-founder of Immersive G2mebox and Tough Mudder), Rob Grieg-Gran (co-founder of Mindful Chefj and Nick Robertson (co-founder of ASOS). Community Access In addition to the access provided through the partnership programme and community projects outlined above, the school also encourages use of the school facilities by variou5 charities and community groups including various sports and theatre groups and Northwest Residents Association. Volunteers Alumni, Friends of King's, parents and members of the local community assisted and supported the Corporation's educational and cultural activities throughout the year. The governing body would like to record its appreciation of this continuing support. 14

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR {2023-24) External measures of success Public Examinations At IB higher level, 62Yo of exams were aw2rded the top grade 7 and 90/¢ were awarded 7 or 6. The average IB Diploma Programme points Score was 41.25 (out of 45). 8 pupils gained the full 45 point5 and 23 pupi15 (of a cohort 55) gained at least 43 points. At A level. 50Yo of all grades were A and 86Y• of all grades were at least an A grade. 59 pupils achieved three or more A grades. with 29 achieving four or more A grades. Considering the upper sixth as a whole, 53/0 of all examinations were awarded an A or IB HL 7 and 87% of all examination5 were awarded AIA or IB HL 716. At (l)GCSE, 67% of all (l)GCSEs were awarded grade 9, 91 Yo were awarded 918, and 9870 were awarded at least & grade In terms of university destinations, 91 Yo of students secured a place at their first-choice university in the UK or abroad, and 9% went to their 5econd-choice university or used clearing routes to secure place5 at leading univer51ties (Russell Group or equivalent). 39 pupils obtained places at Oxford and Cambridge, and it was 2 record-breaking year for our m2themati¢ians with five securing i place at the highly competitive Cambridge Mathematics tripos (accounting for 2Yo of the places available). Over 20 pupils with international offers headed off to exciting places around the world, including Princeton, Yale, Chicago, Trinity College Dublin and Bocconi. Three of this year'5 leavers were recruited for rowing to prestigious US universities. One of our leavers won the prestigious MEXT scholarship to study Engineering in Tokyo. Other academic achievements Pupils have continued to excel in broader academic and other pursuits: Senior School: A pupil earned the highest mark in the UK for his OCR History A level. A team of King's pupils won the UK Space Design Competition with two sixth form pupils being invited to compete at the International Space Settlement Design Competition (ISSDC) at Nasa's Kennedy Space Centre in Florida. one went on to win the Best Presenter Award for her te2m. A group of sixth formers entered the Cansat competition for the first time and won first place. They travelled to the European Space Research and Technology Centre in Leiden as part of their prize. One pupil won a gold medal in the Intermediate Mathematical Olympi2d and was invited to the UKMT Oxford training camp. Eight pupils won gold medals in the Biology Olympiad, with one pupil being invited to the national final with the 16 highest performers across the country. Three upper sixth pupils also won gold awards in the Royal Society of Biology Olympiad. Two upper sixth formers won gold awards in round two of the British Physics Olympiad, with one being selected for the Oxford training camp 18 pupils won medals in the UK Linguistics Olympiad, including lour gold medals. One sixth former won first p12ce in the IEA Monetary Policy Essay Prize Final,. another member of the lower sixth won the Universicy of Sheffield Translation Prize,. an upper sixth pupil was highly commended for his entry into the John Locke Essay Competition. Three pupi15 were highly commended in Oxford University's French Flash Fiction Competition. Agroup of51Xth formers won second place in the Mock Trial Competition which took place atthe London Crown Court. Three fourth formers won the junior category at the South East Schools, Chamber Music Competition, with one of them also wining the Pearl Prize in the Young Performer category of the British Flute Society Competition. One lower school pupil performed in The Magic Flute as part of the National Opera's company at the Coliseum Theare, London, while a fourth former performed in La Forza Del Destino at the Roy21 Opera House in Covent Garden. 15

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Three lower sixth pupils won Arkwright Engineering scholarships. One pupil won a Highly Commended Award at the Young Wimbledon Artist competition and another was selecced by the Royal Ac2demy of Art5 for their Young Arcists, Summer Show 2024. An upper sixth pupil's artwork was selected for the Kew Young Bocanical Art15t Exhibition. A lower sixth pupil won the Network Rai5 Innovation in Transport Award in the Big Bang Competition 2024. King's Chess A team won the National Schools, Chess Championship title for the first time ever and the U13 chess team were runners-up in the National Chess Federation Finals. A fourth former won a bronze medal at both the European Youth Bridge Team Championships and the World Junior Transnational Youth Pairs Championships. Junior School: Eight junior school pupils won senior school academic scholarship5 and four also won awards in music and sport. In May 2024, all of Second and Third Form took part in the junior Maths Challenge, limed at Year 8 pupils. Junior school pupils received 47 bronzes awards. 39 silvers, and 22 golds, with 17 progressing to the bonus 'Kangaroo" round. One pupil also achieved a high enough score to enter the prestigious Olympiad round, with three others one question away from a150 qualifying. 35 Priory pupils took Acting or Verse & Prose LAMDA exams, with 24 merits and 6 distinctions. At the Wimbledon Bookfest, I l junior school pupils were commended or highly commended for their contributions. Two Third Form pupils competed for the first time in the "Speak Up Year 6" public speaking competition at Wimbledon High School, making the grand finil. Music, Art, Drama, Sports and other achievements Music There has been much to celebrate in the Music department this year. Pupils continue co be highly successful in their diploma examinations, with sixteen gained this year, including one pupil who gain three diplomas on three different instruments cello, double bass and singing. The singing diploma was a prestigious fellowship award IFRSM), an outstanding achievement and the first for a King's pupil. Two pupils reauditioned 2nd retained their p051tions as members of the N2tion21 Youth Orchestra of Greac Britain, both of whom were given the addicional role of strings leader. Meanwhile, two pupils gained places in the National Children's Orchestra and three in the National Youth Choir, whilst two pupils took up choral scholarships, one at St Peters College Oxford and the other at Emmanuel College Cambridge. In the spring term, four chamber music groups tool< part for the first time in the South East Schools Chamber Music Competition, with two reaching the finals performing in St George's, Hanover Square and one, a piano trio, returning victorious having won the junior category. The big band played superbly at the school's fireworks night. together with pupil bands who also tool< to the main performing scage. In the spring term, there was an exceptional jazz club evening, featuring the big band, jazz combos and saxophone quarcet 2nd the ever-popular house batcle of the bands. Four band showcases took place during the year, together with two Muslc technology showcase events. The chimber choir sang Even50ngs locally and in Guildford and St Paul's Cathedrals, as well as the Chapel Royal at Hampton Court Palace. All other choirs performed at variou5 school services, carol services 2nd concerts throughout the year, including coro and King's 9 in 2n excellent ifternoon of songs from musicals. Ensemble concerts featured some outstanding playing, including x pupil conducting the symphony orchestra in Britten's Soirées Musicoles as well as a performance of Rachmallinov 5 Second Piono concerto and S2inc-Saens' mighty Symphony no3. The Art5 Festival, towards the end of the summer term, included a cello ma5terclass for King's pupils with Julian Lloyd- Webber OBE, a thrilling joint concert with the Philharmonia, a spectacular band and technology showcase 2nd 2 colourful partnership choir event involving lour primary schools and members of Coro. Music events in the junior school included almost l 00 Priory pupils taking part in two junior school concerts,. 80 pupils in two Rushmere Concerts., numerous soloists in the five soloists, recitals,. three choir performances in church services,. and two Young Musician competitions which were open to every pupil. Masterclasses, workshops, showcases ind presentations from West End performers also took place during the course of the year as well as a 2. form trip to see 16

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 the musical, Wicked. The Beginner Group Programme in Rushmere continued as 2 means of encouraging instrumental playing 2nd promoting greater instrument21 diversity in the music departfflent. Art The lunior School show 2023. installed in the Collyer Hall Theatre, showcased a cornucopia of work by every junior school student. The artwork created was based on the theme 'Under the Sea, and was the culmination of 2 term's worth of art navigation and discovery. The re5uIt5 were atmospheric. fun. skillful and thought-provoking. Work involved collages, papier maché, paintings and prints and included a stunning protesting big blue whale made from recycled plastics,. a terrifying kraken emerging from the deep,. Davy Jones, locker,. and a rediscovered underwater city. All the strange, unexpected and lost stories that lie under the ocean were a great source of inspiration and provided 2n opportunity to explore important environmental issues. In the summer term 21 student5 across the junior school had work exhibited at the annual SATIPS Exhibition (this year in Moreton Hall). The Rushmere drawing competition and House art competition demonstrated through their independent work the great talent of our students. The Lower School's annual art exhibition was held in collaboration with Design Engineering,. themes ranged from portraiture to architecture, honey bees, printmaking and sculptures. The Art GCSE, IB and A level end of year exhibition was held in the Reeve School in the summer term. This showcased all of the hard work and dedication to the subject that students achieved over the course of their two year courses. An exhibition at the Arts festival showcased a selection of students, work from across the art workshops which took place with students from Lower, Middle and Upper school. The School's online Sway gallery continued to develop throughout 2023-24 and provided additional content on a weekly basis to a wider audience. The pupil-led Art Bulletin has continued to showcase pupil work 2nd includes reflections on exhibitions and the work of other artists. The Lower School and Senior School House competitions have had great success and engagement, with student5 from each year group taking part in House events and life drawing competitions. Students across the year groups continue to tske part in a variety of competitions including the YWA competition, in which a Lower Sixth A level Art student won a prize. Art trips, clubs and events have continued Year 7 took part in Art workshops at Kew Gardens exploring the links between art and nature. Students enhanced their creative awareness of natur21 forms through observations of plants and structures in a number of workshops led by King's teachers and Kew staff. A range of techniques and materials were used to record observations of natural and man-made structures. Students had fun pushing skills related to both Science and Art.. experimentation, observation, interpretation, analysis and evaluation. During Arts Festival week, the Arc Department were joined by external visiting artists, running 2 Variety of workshops for students. These included rotiting workshops for Year 8 - Animation nation (stop motion). Graffiti Stars and Fantastic Beasts with Charlotte Steel. Fourth Form enjoyed the opportunity to learn from world renowned art15t lan Murphy in a full day experimental drawing workshop. Lower Fifth and Lower Sixth students tool< part in a range of experimental drawing workshops including architectural designs and life drawing with visiting artists. The programme of gallery visits has continued, with students ittending twelve exhibitions across the academic year after school on Fridays. Ten after-school life drawing sessions have also taken place. Art clubs, covering animation. photography, graphics and clay art, have continued during lunchtimes. Links with community partnerships have also been maintained with pupils working with local primary schools and the department supporting the summer Open Doors project, Drama It was a joy taking on one of our biggest challenges yet in Billy Elliot. With a cast of 35, band of 17 and crew of l O, this ha5 been a production with wonderful experiences and colliborations: the cast have trained in such things as ballet, t2P, acrobatics, flying Ind stage combat to name a few. We were delighted to have been invited to perform as part of the National School Theatre Awards ceremony on Monday 24 June, after their incredible review of Billy Elliot in the Autumn Term. and utterly thrilled to have won Best Supporting Actor and Best Musical 2024. KCS Theatre Co. were delighted to return to the Edinburgh Fringe this year: they delivered a bold and stylised reimagining of Bram Stoker's gothic masterpiece Dracula where thrilling drama, daring movement and original Score combined in this visceral new production of atmospheric horror. With the New Writing club creating the script, the KCS Theatre Co. movement club devising movement, 2nd technic21 theatre students creating the lighting and sound design, with wholly original music from an upper sixth pupil and in alumnus, it proved to be the most collaborative and student-led Fringe production yet! 'An incredibly atmospheric production.. beautifully choreographed and eerily intimate., (Scottish Field). "A thrilling new take on Stoker's work that boasts imagination in sp2des.' (The Wee Review) The Director in Residence Peter Dyer led a production of Danton's Death as the Studio production.. the company applied themselves to comprehensive historical research to set the terror of the French Revolution, working together beautifully 17

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 to delve into the complexities of the politics and relationships of the charicters, ultimately delivering a truly thrilling performance set in the round. The House Plays FestlV212024 saw 115 student5 tal<ing part in acting, music, design, direction and producing, and putting togecher six 20 minute shows over one month. Forty students from the lower sixth took on the mammoth responsibility of running their House Plays, from adapting I writing scripts through casting, designing 2nd rehearsing, to finil performance as actors. stage management, technical operators and musicians. ActorlDirector Joe Pitcher gave a wonderful adjudication.. Major won Best Play with 'Split' (directed by Aaron and Izzy),. Best Actor went to Pierce for his portrayal as John Proctor in Layton's 'The Crucible,, and an Adjudicator Award for Inspiring Storycelling went to Alverstone for 'Peter Pan,. Incredible worlc also from Kingsley ('Little Shop of Horrors,), Maclear ('Ocean at the End of the Lane,) and Glenesk {'One Flew Over the Cuckoo's Ne5t'l! The lower school company of Treasure Island took captivated audiences on a thrilling adventure. Comprising 38 performers and a team of eight student technicians, the team went above and beyond all expectations to produce a slick, excrav2gant and highly engaging show. Mr Jone5, the Theatre Director in Residence, lauded the company as collaborative, talented, and creative lower school ensemble. Theatrical seafarers - one and all who navigated the course of the rehearsal and production process with humour, professionalism, and a barrel load of swashbuckling," The Middle School production was a dynamic 2nd fast-paced retelling of Shake5peare's most famous revenge tragedy* Hamlet. With 2 Stylised movement ensemble bringing co life Hamlet's madness and torment, the audience experienced the classic story with a spine-tingling cwi5t. The pupil playing the lead role was electrifying, bringing incredible vulnerability to the stage, and the whole company worked together beautifully to serve the story with such talent and dedication their collaboration5 were a true joy to watch. Inspired by Donna Tartt's The Secret History, this electric adaptation by sixth former Kiera treated the audience to an hour of enthralling drama directedi produced, designed and starring lower sixth. A perennial highlight of our drama and community partnerships calendar is the Community Production. The performance of The Time Machine, inspired by the novel by H.G. Wells, took place at the end of the Spring term and marked the culmination of two terms of creative collaboration between pupils and teacher5 from King's and our parcnership schools. Pupils partlClP2ted as performer5, prop-makers, mu5ician5, composers, choir members, scenic artists, stage managers and techniciins, and the joy on the stage in the final performance was truly palpable. Co-curricular clubs for lower school and fourth form continued with large numbers in the fields of technical theatre and accing through the year. As part of King's Arts, we offered a specialist workshop in devising and movement for lower fifth pupils, and a dynamic theatrical skills workshop for fourth form wich our director in residence lain Jones. We were delighted to be hosting a five-day intensive workshop as parc of the Arts Festival, led by two specialists from the pedagogical team at the prestigious Ecole Internationale de Théatre Jacques Lecoq in Avignon, and generously Sponsored by the Friends.. the course offered an unparalleled opportunity for pupils to experience professional training in this specialist drama field. Academic drima has presented some truly gripping evenings Showcasing the students. great skill, talent and dedication: the upper fifth GCSE Drama pupils devised original plays inspired by a playlist of evocative songs., the upper sixth IB Literature & Performance pupils presented their dynamic theacric21 transformations of episodes from the novel The Plague by Albert Camus, whilst their lower sixth counterparts served up a dose of real tragedy with their coursework scenes from Hamlet. the lower sixth A Level Drama pupils staged 5cene5 from an exciting modern adaptation of Cyrano de Bergerac featuring swashbuckling sword playi and brought to life Bram Stoker's Dracula through the electrifying len5 of pr2CCltioner Steven Berkoff for their devising project, whilst their upper sixch counterparts presented a culmination of their work in their examination scenes, including A Streetcar Named Desire, Death and the Maiden, and i Frantic Assembly- inspired The Effect, accompanied by excellent student lighting design inspired by Paule ConstJble' Ind finally our largest ever cohorc of GCSE drama pupils gave their public performances of examination Scenes, which showcased actors and lighting designs in extracts taken from I I varied and challenging texts, including Berkoff 5 The Trial, Tom Basden's Accident21 Death of an Anarchist and Healy's The Collector. In the junior school, Third Form pupils all took part in a Remembrance Assembly using a mixture of acting, mime and dramatic pr05e and poetry readings to explore and remember the wiys in which people's identity can be changed in the process of conflict. In the spring term, Priory pupi55 put on Moana which was a great success with an added bonus of the pupi15 learning a loc about Polynesian belief systems and origin stories. The Art department contributed to the performance by hiving their Art Club (made up of pupi15 from Rushmere and Priory) making props and decorations used in the play. In the summer term, Rushmere performed an adapted version of Fantastic Mr Fox, singing 2 range of excicing 18

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 parodies from artists such as Taylor Swift, Joni Mitchell and Imagine Dragons. Each pupil in first form sung and spoke in the performance, and all of transition provided the singing and some ¢la55ic boos and hisses for our baddie5. The year finished with presentation5 and performances from the whole of third form in the Leavers. Church Service, all linked to the theme of 'adventure'. This comprised poetry* songs and dramatic readings. Sport King's pupils continue to shine on a nitional and international sporting stage with more pupils than ever before representing Surrey Cricket, Harlequins Rugby> Fulham FC, ISFA National football squad, Surrey badminton and England hockey. In rugby, coaches focused on the safety of players and the implementation of the new tackle height laws. The school continued to lead the way in terms ol non-contact delivery with regular competitive tournaments for pupils that opt for this version of the game. The U14A team went unbeaten during the autumn term and the15t XV had seven pupils involved from U5th which bode5 well for future years. In football, the U13s were ISFA National Cup quarter-finalists and ISFA National Shield winners. The I, and 2. Xl were semi-finalists in the London Cup and the I. Xl were Trinity cup winners. Two pupils were selected for the England U14 age group next year, one pupil was selected for the U15 ISFA National team next year and another pupil captained the ISFA U18 National football team. The U I l A team defended their title as the Hampton Prep tournament champions whilst the U8A team were crowned plate winners of the KCJS Centenary football tournament. In hockey, the senior boys, sides have excelled in the indoor competitions, with the U16's reaching the regional final5, and in the Lower School. the U12A's celebrating winning the county cup for the first time. We have also had some individual success with one pupil selected to play for the England U16 team. In swimming, the year seven and eight teams became London league champion5 and the U135 reached the ESSA national fina15, finishing in the top 15 in both relays. In basketball, the U14 team made the LISBA Finals day. falling agonisingly short in the final to finish second. Two pupils represented the South London LISBA U18 All Stars. In netball, the I" Vll reached round two of the ISNC plate competition. In cricket, the I, Xl won 17 games of cricket during the season which wa5 the most successful in recent history. The U15A became Surrey champions in the ESCA T20 cup, beating St Paul's, Epsom College and Whitgift. They represented Surrey in che next round against the Middle5ex champions Harrow, only to lose agonisingly in the final over. The U13A were runner5 up in the Surrey County Cup and made it to the final of the U13 Watcyn Evan5 trophy where they were beaten by Epsom College. In tennis, OK'S have been getting great publicity on the International stage and we look forwkrd tQ Seeing this continue for years to come. Top individual successes in the year were one of our U IOS being crowned National Champion, numerous pupils representing both Middlesex 2nd Surrey, and a huge amount of individual success at region21 and national level tournaments. U18 gir15 were crowned Surrey Champions, Rooth2m Shield runners-up ind National Plate Champions. The U12 boys were Surrey Festival winner5 & National regional runners-up, with U13, 14 & 15 boys coming out 3 best in the county. The U18s boys also had a successful campaign, coming out in 3, place multiple times. to very strong Ewell Castle & Reeds outfits, Racquet sports it King's continue to grow with a high number of participants at clubs. The U16 squash team won bronze in the National Plate competition, with all players in the team being U15. Table Tennis had a strong year, with one pupil winning the South London individuals at U16. as well as the U13 having a strong season in the London League. In badminton we had wins against Hampton, Ep50m and Reeds as well as competing at the London Summer Schools tournament. In athletics, three pupils were selected to represent Merton in high jump. javelin and triple jump. It was wonderful to see a huge group of 36 pupils trkvel to the Wimbledon Park Stadium for this event. A good number of pupils also competed in the TCS London Mini Marathon on The Mall, ranging from Year 7 to Lower 6 . One pupil won a silver medal in U17 5teeplecha5e at the English National Championships. Rowing was once again a highlight with no fewer than three medals at this year's National School's Regatta for the J14 2. octo, J16 2. Vlll and J16 1, Vlll. The J155 set a new school best J15 time over 2k during a strong 2. place showing at 19

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Marlow Regatta and the senior girls won a silver med21 at the B211 Cup Regatta. The senior boys, squ2d has 2nother stellar year, with a 5, place in champ Vllls at National Schools Regatta, making the quarter final at Henley Royal Regatta and 51X of this squad representing the country over the Summer at the three main international regattas, including a fantastic 4, place at the Junior World Championships for one U6th rower. It was a magnificent year for junior school sport, with the U I l A football team defending their title as the H2mpton Prep tournament champions, whilst the U8A team were crowned plate winners of the KCJS Centenary football tournament. In JS rugby, the U I l As went unbeaten it the Rosslyn Park 7s, whilst the U I OAS went unbeaten it Trinity 75. In crickeL the U I l As got to the semi-finals of the Surrey Prep Schools Cup. In athletics, two U I I representatives from the Junior School qualified for the National Prep Schools Athletics in shot put 2nd 800m. Our Year 4s, 5s and 6s were also winners of the Thomas's Athletics Championship. In cross county, the U8s and U9s placed I. overall in the Danes Hill Cross Country. Finally in swimming, the U I OIU I I relay squad finished 3, overall in the Nationals Final. Development Office report Transforming our school through our philanthropic community Philanthropy has shaped King's and the lives of our pupi15 for almost 200 years. Throughout that period, philanthropy has helped enable us to offer the very best education for our pupi15 and our generous supporters help us to achieve our wider social aim5, in particular, opening our doors to those who otherwise would not have the opportunity to study at King's. Our bursary programme continues to benefic a wide range of pupils, Ind we want to build upon our successes in the coming years, increasing our bursary provision in the future through the establishment of the King's College School Bursaries Foundation. Approach King's College School is committed to maintaining the highesc standards of ethical behaviour in fundraising and alumni engagement. Fundraising 2023-24 saw total donations £955,000 (2022-23: £507,000), of which £649,000 (2022-23.. £217,000) was for Bursaries and the Bursaries Foundation. The remainder was for renewal of the school site (music and sport pirticulirly) Ind other specific project5 including our Partnership, Rowing and Entrepreneurship programmes. Within the total donation, £201,000 was donations from legacies (2022-23.. £21,000). Fundraising code of practice No external professional fundraisers carried out iny fundraising activities on behalf of the school during the year. The school is formally registered with the Fundraising Regulator demonstrating our commitmenc to 'good fundraising practices,. The school also adheres to the Code of Fundraising Practice and is a member of the Institute of Development Professionals in Education IIDPEI 2nd CASE Europe (Council for Advancement and Supporc of Education}. There are no instances to report of the school failing to comply with lundraising standirds or schemes for fundraising regulation and the School received no complaints about its fundraising activity during the year, The school adheres to the General Data Protection Regulation (GDPR), which came into effect in May 2018. REVIEW OF FINANCIAL ACTIVITIES AND RESULTS FOR THE YEAR The Corporitloll aims to generate 2 surplus to finince the ongoing capitsl expenditure needed to upgrade che school's educ2tion21 services and facilities so that it can continue to offer the high-quality education expected of the schools. The Corporation achieved an operating Surplus of 16Yo or £7.962m (2022_23: 167¢ or £6.960m). This is driven by the increase in trading activities via the subsidiaries and also tight cost control across the Corporation. Income increases were due to favourable interest rates in the last financi21 year resulting in higher than expected investment income. The wholly owned 5ub5idiary and trading company, KCS Enterprises Limited, continues to manage the letting 2nd hiring of facilities at the school. For the year ended 30, April 2024 the trad￿ng company has made a donation under gift aid of £595k (2022-23.. £51 Ok). 20

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 The wholly owned subsidiary ind trading company, King's College School Wimbledon (International) Limited, continues to manage the Corporation 5 overseas schools, project5. For the year ended 31" July 2024 the trading company made a profit of £4.765m {2022-23 £3.271 m) and gifc aided £3.502m to the Corporation. Over211, the con501idated income for the yeir was £50.890m (2022-23.. £44.679m up147.) and expenditure was £43.534m {2022-23: £39.089m up I IY.) producing net income of £7.342m {2022-23: £5.590m). RESERVES POLICY At che end of the year 2023124, the Corporation had total reserves of £94.748m. Of these funds, £ l Ok related to endowment funds, £3.119m reflects unexpended restricted funds where there are donor-imposed restrictions on how the funds are to be applied, and the school has chosen to designate fund5 of £6.509m. The remaining unrestricted fund5 amount to £85.1 IOM. As with many independent schools, King's works towards an agreed strategic development plan and has continued, over the years, to invest in the fibric ol the school estate. The net book value of the tangible fixed assecs, amounts to £63.943m at the year end. A policy of site improvement can result in positive or negative free reserves, dependent on the timing of capital projects. Pension reserve revaluitions year on year will also impact free reserves. At the year end, the Corporation had positive free reserves of £21.167m. The governors do not consider free reserves but adopt 2 Strategic approach to ensure that the medium to longer term Strategy of the school, incorporating both development and operational cash flow requirements, are monitored regularly through the relevant committees and ultimately by the Board. At the year end, the governors are content that the reserves and cash posltion are in line with it5 strategy and sufficient headroom is available to manage the day-to-day operations of the school. Restricted funds are used according to the donors, instructions. Where the purpose 15 llot specifically directed, restricted bursary funding is used in a way chat ensures the long-term sustainability of the bursary fund. Restricted project fund5 are applied to specific protects at the earliest appropriate opportunity. Designated funds are used as the specific projectlac¢ivity is undertaken. The largest portion of these funds is for bursaries. INVESTMENT POLICY AND OBJECTIVES The Corporation's policy, unless specifically instructed otherwise, is to credit cash from all sources, including the Fees in Advance (Composition} Scheme, ¢0 the Corporation's main bank account. This allows bank borrowings and interest charge5 to be kepc to a minimum. The fee discount rates offered on deposits into the Fee5 in Advance (Composition) Scheme are reviewed regularly. CAPITAL EXPENDITURE Capical expenditure in recent years has concentrated on the upkeep of facilities, health and safety15tatutory compliance, improving pupil experience and environmentlsustainability. Projects in 2023-24 included lab upgrades, completion of the refurbishment of che Reeve building, roof repairs. and the creation of an OKC football pitch. The school installed a borehole in 2023 in order to reduce the school's mains water usage. A condition survey was completed to survey all the school's buildings and from which an estates management p12n has been developed. FUTURE PLANS new strategic plan for 2023-29 has been drawn up, based on discussions and feedbac1< from across our school community, including pupils, staff, governors, parents, alumni, partnership schools and feeder schools. The key objectives for 2024125 are: Health, wellbeing and safeguarding - continuing to ensure that safeguarding and wellbeing are central to school life, and enhancing our whole School approach to supporting mental heilth, pastoral care and the tutorlcutee relationship, together with the development of our personal, social and health education {PSHE) programme 21

THE CORPORATION OF KING'S COLLEGE SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 2. Kindness at King's - promoting our school values. f05tering empathy and deepening our engagement with issues around equality, diversity 2nd inclusivity (EDI}, to ensure that our community represents a welcoming and inclusive communi¢y in which 2ny individu21 may feel that they can belong Intellectual engagement and creativity- continuing to promote high academic standards, extending opportunities for scholarship and academic enrichment, and embedding the King's profile 4. Inspiration through opportunity continuing to support the development of the whole child, through our co- curriculum, while developing our Mind, Spirit, Heart co-curricular progrimme and developing King's Arts Leadership and skills for future lives - developing broad ranging ski115 ¢0 equip pupils for their futures, including critical thinking, oracy, empathy and digital Skills, alongside offering a programme of leadership throughout the school, enhancing pupil voice channels 2nd advocacy including peer mentoring across all year groups 6. Life beyond King's- continued focus on the World Beyond school and Life at 25 through our careers and futures programme, business and entrepreneurship programme, and work experience 7. Community and social responsibility - continuing to embed 5UStainable partnerships with our local community. including through King's Arts. Developing and supporting staff - offering opportunities for staff to access excellent professional development Sapienter, an extensive in-house progrimme of CPD and through our in-house teacher training programme, as well as wellbeing support 9. Maintaining excellent governance and strong systems - including through our ongoing proce55 of policy scrutiny and review l O. International perspec¢ives through the year groups I l. Growing our endowment for bursaries through our fundraising activity embedding a programme of cultural awareness and international engagement STATEMENT OF GOVERNORS, RESPONSIBILITIES The governors are re5pon5ible for preparing the annual report and the financial statements in accordance with applicable law and the United Kingdom's Generally Accepted Accounting Practice. The Corporation's Statutes and the laws applicable to charities in England and Wales require the governors to prepare financial statement5 for each financial year which give a true and fair view of the state of affairs of the Corporation and of the profit or result of the Corporation for that period. In preparing those financial statements, governors are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the school will continue in business. The governors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Corporation ind enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the kssets of the Corporktion ind hence for taking reasonable steps for the prevention 2nd detection of fraud and other irregularities. On behalf of t overning Body Southside Wimbledon Common London SW19 4TT Lord Deighton Chair of the Governing Body 22

INDEPENDENT AUDITORS, REPORT TO THE GOVERNORS OF THE CORPORATION OF KING'S COLLEGE SCHOOL Opinion We have audited the financial statements of The Corporation of King's College School ('the charity,) and its Subsidiaries ('the group,) for the year ended 31 July 2024 which Consolidated Statement of Financial Activities, Balance Sheet5, Consolidated Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financi21 reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting St2ndard5, including Fininciil Reporting Standard 102 The Fin2nci21 Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statement5: give a true and fair view of the state of the group's and the parent charity's affair5 as at 31 July 2024 and of the group's income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in 2ccord2nce with International Standards on Auditing (UK) (ISA5 {UK)} and applicable law. Our responsibilities under those stindirds are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Vve believe that the aLSdit evidence we have obtained 15 sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertsinties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's or the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees Wlth respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of a55urance conclusion thereon. Our re5pon5ibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencie5 or apparent material misstatements, we are required to determine whether this gives rise to a miterial misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that lact. We have nothing to report in this regird. 23

INDEPENDENT AUDITORS, REPORT TO THE GOVERNORS OF THE CORPORATION OF KING'S COLLEGE SCHOOL (continued) Matters on which we are required to report by exception We have nothing to report in respect of the following mitters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the financial statements is incon515tent in any material respect with the trustees, report., or sufficienc and proper accounting records have not been kept by the parent charity,. or the financial statements are not in agreement with the accounting records and returns,, or we have not received all the information and explanation5 we require for our audit. Responsibilities of Governor5 for the financial statements As explained more fully in the Governors, responsibilities statement on page 22 and 23, the Governors are responsible for the preparation of the finincial statements and for being satisfied that they give a true ind fair view, and for such internal control as the Governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Governors 2re responsible for assessing the group's and the parent charity's ability to continue as a going concern, disclosing, a5 applicable, matters related to going concern 2nd using the going concern basis of iccounting unle55 che Governors eicher intend to liquidite the group or the parent charity or to cease operations, or have no realistic alternative but co do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section of the Charities Act 201 l. and report in accordance with the Acts 2nd relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as 2 whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that in audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exist5. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Details of the extent to which the audit was considered capable of detetting irregularities, including fraud and non- compliance with laws and regulations are set out below, A further de5crip¢ion of our responsibilities for the audit of the financial Statements Is locLted on the Financial Reporting Council's website at.. .frc.or .ukJauditorsres on ibilities. Thi5 description form5 part of our auditor's report. Irregularities, incltjding fraud, are instances of non-compliance with laws 2nd regulations. We identified and a55essed the risks of material mi5Stacement of the financial statements from irregularities. whether due to fraud or error, and discu55ed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within which the charity and group operates, focusing on those law5 and regulations th2c have 2 direct effect on the determination of material amouncs and disclosures in the financial statemencs. The laws and regulations we considered in this context were the Charities Act 201 I together with the Charities SORP {FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. In addition, we considered provisions of ocher laws and regulations that do not have a direcc effect on the financial statements but compliance with which might be fundamental to the charity's and the group's ability to operate or to avoid a material pen21ty. We klso considered the opporcunities and incentives that may exist within the chirity and the group for fraud. The law5 and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014, Charity Commission regulitions, General Data Protection Regulacion (GDPR), Taxation legislation and Employment legislation. 24

INDEPENDENT AUDITORS, REPORT TO THE GOVERNORS OF THE CORPORATION OF KING'S COLLEGE SCHOOL (continued) Extent to which the audit was considered capable of detecting irregularities. including fraud Auditing Standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Tru5tee5 and other management and inspection of regulatory and leg21 correspondence, if any. We identified the greatest risk of material impact on the fin2nci21 statements from irregularities, including fraud, to be within the override of controls by management. Our audi¢ procedures to respond to these risks included enquiries of management, and the Finance & Planning Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate and reading minutes of meetings of those charged with governance. Owing to the inherent limitations of an audit, there 15 an unavoidable risk that we may not have detected some materikl misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non- detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. Use of our report This report is made solely to the charity'5 trustees, a5 a bodyi in accordance with Part 4 of the Charities (Account5 and Reports) Regulations 2008. Our audit work has been undertaken so that we might State to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body for our audit work. for this report, or for the opinions we have formed. Crowe U.K. LLP Statutory Auditor London 8 January 2024 Crowe U.K. LLP is eligible for appointment as audltor of the charity by virtue of tts eligibility for appointment 3$ auditor ol a company under sectlon 1212 of the Comp3nie5 Act 2006. 25

THE CORPORATION OF KING'S COLLEGE SCHOOL CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 Unrestricted funds Restricted and School Designated Endowed Funds £'ooo £'ooo É'ooo Total 2024 £'ooo Total 2023 £'ooo Notes INCOME FROM: Choritable octivities Tuicion fees Ancillary income Other troding activities KCS Enterprises income KCSW Internationil income Investments Donations 38,636 3,979 38,636 3.979 35,883 3,307 1,445 4,764 1,034 87 1,445 4,764 1,034 1,032 1,386 3,271 232 600 201 744 Total income 49,945 201 744 50,890 44,679 EXPENDITURE ON: Raising funds KCS Enterprises costs KCSW International costs Finance and other costs Fundraising costs 860 1,401 76 409 860 1,401 76 409 744 840 85 279 2,746 2,746 1,948 Charitable activities School operacing costs and grant-making 40,246 556 40,802 37,141 Total expenditure 42,992 556 43,548 39,089 Net income before transfers Transfers between funds 6,953 201 188 7,342 5,590 19, 20 Net income 6,953 201 188 7,342 5,590 Investment property gain Pension scheme actuarial (loss)Igain 1,009 1.009 943 Net movement in funds Fund balances at l August 2023 7,962 201 188 8,351 6,533 77,148 6,308 2,941 86,397 79,864 Fund balances at 31 July 2024 85,110 6,509 3,129 94,748 86,397 The Corporation's endowment fund5 amounted to £ l Ok as at l August 2023 and 31 July 2024, therefore the net movement in funds presented above also represents the group's net income for the year. The parent charity's gross income for the year was £47.820k12023.. £42,767k} and it5 net income was £7,090k (2023.. £5,1841<). Comparative information for the statement of financial activities is given in Note 26 to the accounts. 26

THE CORPORATION OF KING'S COLLEGE SCHOOL BALANCE SHEETS AT 31 JULY 2024 Group 2023 £'ooo Charlty 2024 £'ooo 2024 £'ooo 2023 £'ooo Notes FIXED ASSETS Tangible Intangible assets Investment in subsidiaries Other investments 63,943 48 66,033 63,857 48 65,936 loa 4,975 3,945 4,975 3,942 68,966 69,978 68,883 69,881 CURRENT ASSETS Stock Debtors Cash and cash equivalents 134 1,661 52,008 1,701 24,699 5,304 48,005 4,197 21.771 53,803 26,519 53,309 25,968 CREDITORS: due within one year (12,991) (7,748) (12,605) (7,477) NET CURRENT ASSETS 40,812 18,771 40,704 18,491 TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: due after more than one 109,778 88,749 109.587 88,372 year Pension fund surplusl(deficit) (15,030) (2,352) (15,030) (2,352) NET ASSETS 17 94,748 86,397 94,557 86,020 Represented by: Endowed funds Restricted funds Unrestricted funds School funds Pension reserve 18 10 3,119 3,119 2,931 2.931 20 20 85,110 77,148 84,919 76,771 85,110 6,509 77,148 6,308 84,919 6,509 76,771 6,308 Designated funds 20 94,748 86,397 94,557 86,020 The financial statements were approved and iuthorised for issue by the Governing Body on I l Dece gigned on its behalf by.. ber 24 and were Lord Deighton Chairman of the Governing Body R Parker Chairman of anc ommittee 27

THE CORPORATION OF KING'S COLLEGE SCHOOL CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2024 2024 2023 £'ooo £'ooo £'ooo £'ooo CASH FLOW FROM OPERATING ACTIVITIES Net income for the year Depreciation Ban1< interest and other investment income Decrease l (increase) in stock Decrease in debtors (Decrease)l increase in creditors Increase in fee deposits (Increase) in realised gain5 from Investments 7,342 3,565 (1,034) (15) 40 (415) 82 (21) 5,590 2,911 (232) 531 1,330 199 9,544 10,346 INVESTING ACTIVITIES Investment income received Purchase of tangible fixed assets Purchase of intangible assecs 1,034 (1,475) (48) 232 (838) 1489) (606) FINANCING ACTIVITIES Bank loan repayments Net increase in fee composition scheme liabilities New loan finance received 18,254 373 18,254 (1,398) INCREASE IN EQUIVALENTS CASH AND CASH 27,309 8,342 Cash 2nd cash equivalents at l August 2023 24,699 16,357 Cash and cash equivalents at 31 July 2024 52,008 24.699 ANALYSIS OF CHANGES IN NET DEBT Balance at I Cashflows August 2023 £'ooo Balance at 31 July 2024 £'ooo £'ooo Cash and cash equivalents 24,699 27.309 52,008 Net (debt)Ifunds 24,699 27,309 52,008 28

THE CORPORATION OF KING'S COLLEGE SCHOOL ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2024 Statement of compliance The financial statement5 are prepared under the historical cost convention as modified to include the revaluation of investments. The format of the financial statements has been presented to comply with the Charities Act 201 I, FRS102 The Financial Reporting Stondard applicable in the UK and Republic of Ireland and the Statement of Recommended Practice Accounting and Reporting by Charities (Second edition, effective l January 2019). The Corporation is a Public Benefit Entity as defined by FRS S 02. b. General information The Corporation is 2 charity registered in England and Wales (charity number.. 310024) and its registered office address is: Southside, Wimbledon Common, London SWI 9 4TT, a515 of Accounting The financial scatements have been prepared under the Charities Act 201 l on the historical cost convention. as modified by the valuation of listed investments, which is consistent with the prior year. d. Basis of Consolidation These financial statements con501idate the results, assets and liabilitie5 of the Corporation's trading subsidiaries KCS Enterprises Limited and King's College School, Wimbledon (International) Limited on a line by line basis. Going concern Having reviewed the funding facilitie5 available to the School, together with the expected ongoing demand for places, and the School's future projected cash flows, and budgets for more than 12 months from the date of signing, the Governors h2ve a reason2ble expectation that the School and group has adequate resources to continue its activities for the foreseeable luture, and consider there were no material uncertainties over the School's financial viability. Accordingly. they also continue to adopt the going concerll basis when preparing the financial statements. f. Significant judgments and sources of estimation uncertainty The preparation of financial statement5 in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Corporation's accounting policies. The key judgements thit have been applied by management relate to.. The residual values and useful economic lives of tangible fixed assets The actuarial assumptions which underpin the valuation of the defined benefit pension scheme liability The value of the investment property The following principal accounting policies have been applied.. g. Income and endowments All income and endowments are recognised when the criteria of entitlement, measurement and probability of receipt have been satisfied. Tuition fees, less any allowances, bursaries or scholarships awarded, are recognised in the period in which the service is provided. Trading income 15 recognised in the period in which the goods are sold or the services are provided. Donations are accounted for on a received basis. Legacies are recognised on a receivable basis, when the conditions of entitlement, probability 2nd measurement are met. Where the probability andlor measurement criteria for legacies and donations are not satisfied as it the balance sheet date but subsequent events re501ve the uncertainty such that the criteria are met, an adjustment is made to recognise the income. 29

THE CORPORATION OF KING'S COLLEGE SCHOOL ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2024 Grancs, investment income, including interest receivable, and other miscellaneous income are accounted for on a receivable basis. Income from the endowment funds is split between restricted and unrestricted fund5 according to the Specific terms of each fund. King's College School, Wimbledon Ilnternation21) Limited's income related to two contracts has been reassessed resulcing in retained earnings increasing to £242,273 and prior year profits increasing by £61,815. Income and expenditure relating to school trips ha5 now been reflected in the Comparative Statement of Financial Activities, increase income and expenditure by £1.141 m in 2023. h. Expenditure Expenditure is recognised as soon as the related liability is incurred 2nd his been cla55ified under headings that aggregate all costs relating to that category. Liabilities are recognised as soon as there is a legal or constructive obligation commitcing the Corporation to the expenditure. Employment benefits, including holiday pay, are recognised in the period in which they are earned. Termination benefits are recognised in the period in which the decision is made and communicated to the relevant employee(5). Expenditure on raising funds comprises trading costs, fundraising costs and finance costs. Expendittjre on charitable activities comprises expenditijre directly related to the provision of education. Support costs represent indirect costs relating to raising funds and the Corporation's charitable activities. Governance costs 2re included within support costs and comprise the cost5 of running the charity, including audicors, remuneration, certain legal costs and all costs of complying with constitutional and statutory requirements, such as costs of Board meetings 2nd of preparing the statutory accounts. Tangible Fixed Assets and Depreciation Tangible fixed assets are initially recognised at cost. In accordance with the transicional provisions of FRS 102. the School building5 are recognised using the most recent valuation, as at 31 July 2000, as deemed cost, Depreciation is provided on fixed assets to write off their cost less estimated residu21 value over their estimated Useful economic life by equal annual instalments as follows: School buildings & Residences Motor vehicles and computers Boats, iudit VlSU31I ground and sports equipment Catering equipment and furniture Building services 2nd musical instruments 2Yo to Ioyts per annum 25Y¢ per annum 20Yo per annum 12.5/ per 2nnum IOY. per annum Freehold12nd is not depreciated because it is considered to have an indefinite useful economic life. The carrying values of tangible fixed assets ire reviewed for impairment in accordance with the requirements of FRS 102. Intangible Assets- Trademarks Trademarks are recognised as incangible assets as it is probable that future economic benefits attributable to the assets will flow to the organisation and the cost of the asset can be measured reliably. Trademarks that are purchased or internally developed are initially recorded ac cost. This includes ¢05t5 directly attributable to acquiring and registering the trademark. Trademarks are considered to have a finite useful life and are amortised on a 5traight-line basis over their estimated useful life, which is determined to be l O years. The amortisation period and useful life will be reviewed annually. k. Investments Listed investments are recogni5ed at marlcet value. Investment properties are stated at market Value at the balance sheet date. The SOFA includes the net gains 2nd losses arising on revaluations in the year. The propercy 30

in the portfolio are revalued by a professional valuer who 15 qualified for the purposes required, based on market knowledge, at least every three years. Losses arising on revaluation of any property are recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equityi in respect of that asset. Any gains arising on revaluation are recognised in other comprehensive income only where the group has discretion over the timing of the a55et'5 di5P05al. Investments in subsidiaries are recognised at cost. Stock Stock represents goods held for resale and is valued at the lower of cost and net realis2ble value. Basic ftnancial instruments Basic financial instruments transactions that result in the recognition of financi21 assets and liabilitie5 like trade and other accounts receivable and payable are measured at amortised cost a5 follows; Cash and c05h equivolents Cash and cash equivalent5 includes cash in hand, deposits held at banks, other short-term highly liquid investments with original maturities of four months or less and bank overdrafts. Bank overdrafts, when applicable. are shown within current liabilities. Debtors ond creditors Debtors and creditors are measured at the trans2Ction price less any provision for impairment. Any 105ses arising from impairment are recognised a5 expenditure. Bonk borrowings Liabilities for borrowings which are subject to 2 market rate of interest are measured at the value of the amount advanced, less capit21 repayments. Fee composition scheme This is a scheme whereby parents and others make advance payments which, together with the discount accruing thereon, provide for a set contribution each term towards the pupils, fees. The capital portion outstanding is recogni5ed as a liability 2nd the amount of discount cry5tallised in the year is included in the Statement of Financial Activities Pensions The Corporation contributes to the Teachers, Superannuation Scheme at rates set out by the Scheme Actuary and advised to the Corporation by the Scheme Administrator. The Scheme is a multi-employee pension scheme SO it is not possible to identify the assets and li2bilities of the scheme which are accountable to the Corporation. In accordance with FRS102 therefore, the scheme is accounted for as 2 defined contribution scheme. The Corporation has contributed to a defined benefit pension scheme for many of its non-teaching staff which is wholly funded by contributions from the Schools at rates determined by independent actuaries in the light of regular valuations. Such contributions are held in trustees administered funds completely independent of the Corporation's fininces. This scheme is accounted for as a defined benefit scheme in accordance with FRS102 and the details of the movements on the scheme deficit are set out in note 6. This scheme was closed ON 31 July 2016 and any members transferred to the group personal pension plan. The Corporation a150 contributes to a group personal pension plan for non-teaching staff. Thi5 scheme is compliant with the requirements of 2Uto-enrolment. In September 2024 the school introduced a new alternative pension scheme for teaching staff. The Aviva pension Trust for Independent schools (APTIS) is a defined contribution scheme set up by Aviva, written specifically for the Independent School Sector. o. Leases Rentals paid under operating leases are charged to income on i straight line basis over the lease term. 31

THE CORPORATION OF KING'S COLLEGE SCHOOL ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2024 Fund5 Designoted funds Bursary Fund The Governors have established a separate designated fund to provide support to bursarie5 in the coming years. KCS Centenary Chlllenge Fund The Centenary Challenge Appeal was launched on 14 September 1998 to fund the conscruction of a new art and design technology building and the refurbishment of the KCJS science building and to finance additional bursaries. The proceeds of the appeal less administration costs are credited to this fijnd. Donations specifically for bursaries, and 25Yo of other net receipts, are transferred to the designited Bursary Fund. These funds will support the work of the The King's College School Bursaries Foundation and will be spent and invested accordingly. Legacy fund5 Legacy funds consist of legacies received which have been designated for specific purposes by the Governors. These funds will support the work of the The King's College School Bursaries Foundation and will be spent 2nd invested accordingly. Endowed funds Julian Belchamber Memorial Fund The Corporation received a donation under a trust deed to be invested separately, with the investment income arising to be applied towards specific prizes, which are awirded every two years. Restricted funds A number of donors provided funds to the Corporation to be applied towards specific capital and revenue icems. The Scholar5hip5 Trust Funds include the John Cutler Fund, Edgell Hunt Fund. Forest Fund, Inglis Fund, Vvilliam Fund, Rothschild Fund, Sambrooke Fund, Ward Fund and Cleiver Fund. The aim ofthe Scholarships Trust Fund5 is to administer specific donations and to granc scholarships in accordance with the dollors, wishe5. The Other Trust funds include the Organ Fund, Frank Hole Fund, Carmichael Bequest Fund, Trevalan Trust Fund, JHG Maltby Memoriil Prize Fund, A Perry Fund, ITN Gaby Rado Award Fund, Vikram Singh Memorial Fund, Louisa Lewisohn Memorial, Thomas Wilcon Prize, Arthur Beatty Prize 2nd Charlie Barclett Prize. Generol Funds The surplus from normal activities of the Corporation is transferred to che General Reserves. 32

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 TUITION FEES 2024 £'ooo 2023 £'ooo Fees receivable consist of: Gross fees Less- Discounts 2nd sttff 211ow2nces Scholarships Bursaries 40,265 (118) (294) (1,677) 37,071 (95) {291) (1,602) 38,176 460 35,083 800 Add.. Bursaries paid for by restricted funds 38,636 35,883 The total expenditure in year for scholarships and bursaries is a5 follows: Scholarships and bursaries paid by general funds Bursaries paid for by restricted funds 1,093 800 460 1.971 1,893 ANCILLARY INCOME 2024 £'ooo 2023 £'ooo Other tuition Catering Commissions on insurance Other Trip Income 443 1,548 587 1,346 426 1,562 231 3.979 3,307 BANK AND INVESTMENT INCOME 2024 £'ooo 2023 £'ooo Bank interest 1,034 232 1.034 232 33

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 DONATIONS AND GRANTS 2024 £'ooo 2023 £'ooo School The Friends of Kings College School Fund Friends of WCPS Other 75 93 87 104 Designated Legacy funds 201 21 201 Restricted funds Building Renewal Fund I l+ Bursary Fund Bursary Fund Music School Fund Sports Facilities Fund Boat Fund Other 45 604 37 180 35 38 183 59 744 475 1,032 600 34

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 ANALYSIS OF EXPENDITURE Staff Costs £'ooo Other £'ooo Depreciation £'ooo Total £'ooo 2024 Costs of generatffng funds KCS Enterprises KCSW Internation21 Finance and other costs Fundraising 427 818 420 583 76 103 860 1,401 76 409 306 1,551 1,182 2,746 Charitable activities The School's operating costs and grant-making Teaching Catering and welfare Premises (including depreciation) Support costs Governance c05t5 Restricted spend on bursaries 19,585 1,103 1,288 3,546 38 3,404 1.012 4,371 2,282 65 556 22,989 2,115 9,211 5,828 103 556 3,552 25,560 11,690 3,552 40,802 27,111 12,872 3,565 43,548 Staff Costs £'ooo Other £'ooo Depreciation £'ooo Total £'ooo 2023 Costs of generating funds KCS Enterprises KCSW Internation21 Finance 2nd other costs Fundraising 406 596 325 244 85 98 744 840 85 279 1,183 752 1,948 Charitable octivities The School's operating costs and grant-making Teaching Catering and welfare Premises (including depreciation) Support costs Governance costs Restricted spend on bursaries 18,323 939 1,156 3,161 33 2,852 937 3,883 1,988 43 928 21,175 1,876 7,937 5,149 76 928 2,898 23,612 10,631 2,898 37,141 24,795 11.383 2,911 39,089 35

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 SALARIES AND WAGES 2024 £'ooo 2023 £'ooo Wages and salaries Social security Pension costs Other 20,702 2,258 4,101 50 18,723 2,101 3,951 20 24,796 Included in staff costs above are termination payments amounting to £Ok (2023: £188k). The number of employees is given below.. Headcount 2024 2023 Teaching staff Teaching support Support staff Trading activities 232 83 159 54 230 64 125 24 528 443 The head count increase in support staff is a5 a result of additional fixed term exam invigilators that were recruited to provided Support during examination periods. The number of employees whose salary exceeded £60,000 per annum was: 2024 2023 £ 60,001 £ 70,000 11 46 25 43 £ 70,001 £ 80,000 £ 80,001 £ 90,000 £ 90,001 £ 100,000 £ioo,001 £i10.000 £120,001- £130.000 £130.001 £140,000 £140,001 £150,000 £160,001 £170,000 £250,001 £260,000 £280,001 £290,000 The 2023 salary banding for £250,001 £260,000 includes one individual s salary for eleven months of the year. The 2023 full year comparative would be in banding £270,001-£280,000. Remuneration of key management personnel The Management Board plu5 the Head of WCPS pre-prep comprise the School's key management personnel. The aggregate remuneration for key management personnel amounted to £1,457k (2022.. £1,104k). Pension Schemes The School participates in the Teachers, Pension Scheme {"the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £3,216k {2023: £2,644K) 2nd at the year-end £0 (2023 £0) was accrued in respect of contributions to this scheme. The TPS is an unfunded multi-employer defined benefits pension Scheme governed by The Teachers, Pensions Regulations 2010 (as amended) and The Teichers, Pension Scheme Regulacions 2014 (as amended). Members contribuce on a 'pay as you go" basis with contribution5 from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. 36

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. Following the Mccloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period l April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provide5 them with the greater benefits, and in preparing the 2020 valuation has valued the 'greiter v21ue' benefits for groups of relevant members. The employer contribution rate for the TPS is 28.6/, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68Y.. A number of non-teaching staffare deferred members of the King's College School Pension Scheme. constituted by a trust deed and administered in accordance with the rules by Trustees. The Scheme closed to existing member5 on 31 July 2016. The Scheme's assets are invested in, and benefit5 under the scheme are secured by, a Group with profit5 Policy with the Prudenti21 Assurance Company Limited. The Trustees are Idvised on the financial state of the scheme at least every three years by an actL12ry, who makes recommendations is to the total contributions, which should be paid to provide the benefits. The Corporation has a commitment to make good any actuarial deficit. Members are not contracted out of the State Earnings Related Pension Scheme. A full triennial valuation was carried out by a qualified independent actuary as at l August 2022 which showed the scheme had a deficit of £539k. A formal recovery plan has been put in plice to eliminate the deficit by paying £132k per year for five years. The Corporation paid £132k in the year to 31 July 2024 and in the prior year. 37

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 SALARIES AND WAGES (continued) Accounting rules require the Corporation to disclose additional information in accordance with the requirements of FRS102, a5 follows: The major assumptions used by the ictuary were: At 31 July 2024 At 31 July 2023 At 31 July 2022 Discount rate Rate of increase in silaries Inflation assumption Rate of increase in pensions in payment Post retirement mortality 5.00/ nla 3.20/ 3.2/ S2PXA, CMI 2022 with 1.25% underpin 5.10Y. nla 3.50Y. 3.5Y. S2PXA, CMI 2021 with 1.25/0 underpin 3.60/ nla 3.40/. 3.04/. S2PXA, CMI 2020 wich 1.2570 underpin Life expectancy for 65 year old m21e Life expectancy for 65 year old female 21.1 year5 23.2 years 20.6 years 22.9 years 21.6 years 23.7 years The assumptions used by the actuary are the best estimate5 chosen from a range of possible actuarial assumptions which, due to the timescale covered, may not necessarily be borne out in practice. The assets in the scheme, which exclude assets relating to members, AVCS, were.. Value at 31 July 2024 £'ooo Value at Value at 31 July 2023 31 July 2022 £'ooo £'ooo Scheme assets 6,581 6,182 6,049 Top market value of assets Present value of scheme liabilities 6,581 (5,231) 6,182 {5,207} 6,049 (7,087) Surplusl (deficit) in the stheme 1,350 975 (1,038) 2024 £'ooo 2023 £'ooo Amounts recognised in expenditure Net interest (491 37 Total (491 37 Actual return on scheme assets 418 66 Changes in the present value of the Defined Beneftt Obligation Opening defined benefit obligation Interest cost Actuarial {gains)1105ses: Chinges in assumption5 Experience losses Benefits paid 5,207 266 7,087 255 55 (146} (66) 5,231 5,207 38

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 SALARIES AND WAGES (continued) 2024 £'ooo 2023 £'ooo Changes in the Fair Value of Plan Assets Opening fair value of plan assets Interest on plan assets Actual return less interest on plan assets Total contributions paid Benefits paid 6,182 315 103 132 (151) 6,050 218 (152) 132 (66) 6,581 6,182 The School expects to contribute £0 to its defined benefit pension scheme in the next twelve months. Major Categories of Scheme Assets as a Percentage of Total Plan Assets The assets of the Scheme conslst mainly of unitised with profits policy with the Prudential. The asset figures exclude assets relating to members. AVC'S. The major percentage split of the Scheme assets as a percentage of total plan assets were as follows: 2024 2023 Unitised with profits policy Mobius Life Portfolio Cash 89.1 10.4 90.3 i ooy. i ooy. Sensitivity analysis The results of the scheme valuation are sensitive to changes in the key actuarial assumptions. The following table illustr2tes the sensitivity of the liabilitie5 to changes in assumptions, considered in isolation: Change in assumption Approximate increase in liabilities Approximate increase in liabilities £'ooo 1,240 926 Discount rate reduced by l.OY. Inflation a55umption increased by l.0/ Increase in life expectancy of l year for 2 member retiring at 65 162 A GPP Pension Scheme was introduced in February 2012. In 202312024 the Corporation contributed l Oyo ofthe employees. gross pay and the employees contributed a minimum amount of 5/. For employees who have joined this scheme under auto-enrolment, the employers, and employees, contributions were 4/0 of gross pay. The Corporation's total contributions under the three schemes in 2023124 was £3,969,415 (2022123.. £3,774,234). In September 2023 an alternative teacher's pension scheme wis launched. The Aviva Pension Trust for Independent Schools. Employer contributions were 22Yo. and employee'5 contributions were l O°A. 39

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 EXPENDITURE 2024 £'ooo 2023 £'ooo Expenditure includes: Auditors, remuneration for audit for other service5 Operating lease rentals Governors, liability insurance Depreciation 52 44 120 108 3,565 2,916 As in previous years the Corporation has tal<en out Governors liability insurance to protect it and the Governors from losses arising from the neglect or default of it5 Governors, employees or agents. There was £0 of travel expenses reimbursed to Governors in the current year (2023.. £691). TAXATION No taxation liability arises on the results for the year because of the charitable status of the Corporation. FINANCE AND OTHER COSTS 2024 2023 £'ooo £'ooo Bank overdraft and loans Comp051tion fee discount 76 59 76 73 Bank overdraft and loans finance costs include arrangement fees. 40

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 FIXED ASSETS - TANGIBLE Group and charity Freehold Residential School Land Property Buildings £'ooo L'OOO £'ooo Other Assets £'ooo Total £'ooo Cost or valuation At l August 2023 Additions Disposals 1,660 2,707 91,398 1.042 3.331 433 99,096 1,475 At 31 July 2024 1,660 2.707 92,440 3.764 100,571 At cost 1,660 2,707 92,440 3,764 100,571 Accumulated depreciation At l August 2023 Charge for year Disposals 30,729 2,257 2,334 442 33,063 3,565 866 At 31 July 2024 866 32,986 2,776 36,628 Net book value At 31 July 2024 1.660 1,841 59,454 988 63,943 At 31 july 2023 1,660 2,707 60,669 997 66,033 Fixed assets under construction or recently acquired which have not been depreciated amount to £425k (2023.. £0}. The fixed a55ets above are wholly used for direct charitable purposes. Group fixed assets include £85,829 (2023: £96,824) in respect of other fixed assets which are held by the School's subsidiary company, KCS Enterprises Limited. loa. INTANGIBLE ASSETS In 2023-24 the school incurred £47,907 this includes costs directly attributable to acquiring and registering the trademark. There was no amortisation in the year. 41

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 INVESTMENT IN SUBSIDIARIES 2024 2023 Investments in subsidiaries consist of.. Shares in KCS Enterprises Limited Shares in King's College School, Wimbledon (International) Limited The Corporation owns l OQYO of the issued ordiniry share capital of K.C.S Enterprises Limited IKCSE), a company registered ill England and Wales (company number.. 01882088). The company's accivities include provision of a Sports Club, School Shop and the commercial letting of School facilities. Ic exi5t5 to generate a financial surplus to further the Corporacion's charitable objectives. The Corporation owns IOO/o of the issued ordinary share capical of King's College School, Wimbledon (Internacional) Limited (KCSVVI), a company registered in England and Wales (company number.. 08823400). The compiny was incorporated on 20 December 2014. The company's activities comprise of developing opportunities to set up international schoo15 Oiltside the UK with regional partners. It exists to generate a financial surplus to further the Corporation's charitable objective5. The King's College School Bursaries Foundation (company number.. 15598824) was incorporated on 27 March 2024. The company's accivities comprise of fundraising for bursaries and awarding bursary funding to the schools. There were no transactions in the ye2r and the Foundation has no Net Asse¢5. KCSE Year ended 30 April 2024 2023 £'ooo £'ooo KCSWI Year ended 31 July 2024 2023 £'ooo £'ooo Profit and loss account Turnover- external Turnover - intragroup Cost of sales 1,445 1,386 4,764 3,271 {621) (531) (7) (6} 824 {239) 855 (2231 4,757 (1,369) 3,265 1870) Administration expenses Operating profitll1055) Gift Aid payment co Corporation Taxation 585 {595) 632 1510) 3,388 (3,500) (59) 2,395 {2,403) Profitl(loss) for the year 110) 122 (8) KCSE A5 at 30 April 2024 2023 £'ooo £'ooo KCSWI Asat31 July 2024 2023 £'ooo £'ooo Balance sheet Tangible fixed assets Current assets Current liabilities 86 864 (830) 97 723 (6901 3,788 (3,713) 2,733 (2,487) Net assets 120 130 75 246 42

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 OTHER INVESTMENTS 2024 £'ooo 2023 £'ooo 95 3,850 Listed investments Investment property 4,859 4,975 3,945 The listed investment is a restricted donation of shares. DEBTORS Group Charity 2024 £'ooo 2023 £'ooo 2024 £'ooo 2023 £'ooo Amount5 falling due within one year Fee debtors Other debtors and prepayments Amounts due from subsidiary companies 49 1,652 49 1,201 2,947 1,657 4.159 1,661 1,701 5.304 4,197 BANK OVERDRAFT The Corporation has an overdraft facility of £1,750,000, which is secured on the freehold property of the Corporation and interest is charged at 2Yo over the base rate. CREDITORS: amounts falling due within one year Group Charity 2024 £'ooo 2023 £'ooo 2024 £'ooo 2023 L'ooo Trade creditors Fee deposits Fee Composition Scheme {5ee note 16a) PAYE and National Insurance Accruals and deferred income 818 3,495 6,748 47 1,883 1,573 3,413 1,183 39 1.540 744 3,495 6,748 1,545 3,413 1,183 1,618 1,336 12,991 7,748 12,605 7,477 43

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 CREDITORS: amounts falling due after one year Group and charity 2024 2023 £'ooo £'ooo Fee Composition Scheme (see note 16a) Other liabilitie5 and charges (note 16b) 14,960 70 2,271 15,030 2,352 Fee Comp051tion Scheme 2024 £'ooo 2023 £'ooo Within one to two years Within two to five years After five year5 5,264 7,556 2,140 1.458 685 128 Due after one yeir (note 16) Within one year (note 16) 14,960 6,748 2,271 1,182 21,708 3,453 The bi12nce represent5 the accrued liability under contracts. The movements during the year were: 2024 £'ooo 2023 £'ooo Balance at l August 2023 New contracts Amounts accrued to contracts 3,453 19,437 3,081 2,216 22,890 5,297 (16) {1,828) Refunded schemes Amounts utilised in payment of fees Balance at 31 July 2024 21,708 3,453 44

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 CREDITORS: amounts fallÉng due after one year (continued) Other liabilities Other liabilities totalling £70k (2023.. £81 k) consist of provi5ion5 for pensions not funded through the Teachers, Pension Scheme or the School's Defined Benefits Scheme. £11,503 is due within one year. Net Current Assets £'ooo Fixed Assets £'ooo Long term Liabilities £'ooo 2024 Total £'ooo The net assets are held for the variou5 funds as follows: Endowed funds Restricted funds Unrestricted fund5'. School funds Pension reserve Designated funds 10 3,119 3,119 68,966 31,174 (15.030) 85.110 6,509 6.509 68,966 40.812 (15,030) 94.748 Net Current Assets £'ooo Fixed Assets £'ooo Long term Liabilities £'ooo 2023 Total £'ooo The net asset5 are held for the various funds as follows: Endowed funds Restricted funds Unrestricted funds.. School funds Pension reserve Designated funds 2,931 2,931 69.978 9,522 (2,352) 77,148 6,308 6,308 69,978 18.771 (2.352) 86.397 ENDOWED FUNDS Balance at l August 2023 Balance at 31 July 2024 Unrealised Gainsl (losses) £'ooo Income Expenditure £'ooo £'ooo £'ooo £'ooo Julian Belchamber Memori21 Fund There were no movements on this fund in the prior year. 45

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 RESTRICTED FUNDS Balance at l August 2023 Balance at 31 July 2024 Income Expenditure Transfers and revaluation £'ooo £'ooo £'ooo L'OOO £'ooo Scholarships Trust Funds Bursary Fund I l + Bursary Fund Building Renew21 Fund Other Trust Funds Sports Equipment Fund Music School Fund Sports Facilities Fund Boat Donation Partner5hip5 Maths Fund 262 1,143 1,287 271 1,623 995 604 45 {124} (337} 70 26 {6) 92 65 74 38 35 (881 2,931 744 (556) 3,119 46

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 RESTRICTED FUNDS (continued) Balance at l August 2022 £'ooo Balance at 31 July 2023 £'ooo Income Expenditure £'ooo Transfers £'ooo £'ooo Scholarships Trust Fund5 Bursary Fund I l+ Bursary Fund Building Renewal Fund Other Trust Fund5 Sports Equipment Fund Music School Fund Sports Facilities Fund Boat Donation Partner5hip5 Maths Fund HMCK Charity Fund 262 1,381 1,627 262 1,143 1,287 180 37 (418) {382} (6) 70 (3) 66 183 65 24 3,379 475 (928) 2,931 The tran5fer5 between fund5 are all in respect of capital expenditure incurred during the year in accordance with the restrictions on each fund. 20, UNRESTRICTED FUNDS (continued) Balance at l August 2023 £'ooo Balance at 31 July 2024 £'ooo Transfers Gainsl(losses) £'ooo Income Expenditure £'ooo £'ooo General reserves Pension reserve 77.148 49.931 {42,978) 1.009 85,110 77,148 49,931 (42,978) 1,009 85,110 KCS Centenary Challenge Fund Legacy fund5 Bursary fund 672 2,649 2,987 30 72 99 702 2,721 3,086 Designated funds 6,308 201 6,509 47

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 20. UNRESTRICTED FUNDS (continued) Balance at l August 2022 £'ooo Balance at 31 July 2023 £'ooo Transfers Gainsl(losses) £'ooo Income Expenditure £'ooo £'ooo General reserve5 Pension reserve 71,226 (1,0381 44,183 (38,256) 95 (5) 943 77.148 70,188 44,183 138,161) 938 77,148 KCS Centenary Challenge Fund Legacy funds Bursary fund 672 2.628 2,987 672 2.649 2,987 Designated funds 6,287 6,308 OPERATING LEASE COMMITMENTS Equipment 2024 £'ooo 2023 £'ooo At 31 July 2024 the Corporation had the following commitments under operating leases payable.. Within one year After one year but within five years 35 85 36 22. CAPITAL COMMITMENTS 2024 £'ooo 2023 £'ooo Authorised and contracted 794 563 48

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 23, RELATED PARTY TRANSACTIONS The Corporation has taken advantage of the exemption within FRS102 from disclosing transactions with its wholly owned Subsidiaries, KCS Enterprises Limited and King's College School, Wimbledon (International) Limited. R Parker, who is a Governor of the Corporation, a150 Served as a Trustee of the Kings, College School Pension Scheme during the year. A Chamberlain who retired as a Governor of the Corporation in January 2021, also served a5 a Trustee ofthe King's College School Pension Scheme for the year. R Tomlin was appointed 2 member- nominated Trustee of the scheme on 28 June 2022. During the year, the school made contributions of £132,000 to the Scheme. No amount5 were due as at the year end. Five governors are parents of children at the school and paid school fees at normal rates for seven children during the year. A member of Key Management Personnel had a closely connected person earning £29,671 (2023.. £16,199). The Old King's Club serves as the ilumni association for King's College School. The club receives limited administrative support. Further information cin be provided by the Secretary to the Governors. The KCS Old Boys, Rugby Club pays an annual licence fee of £4,500 to the Corporation, for the use of games pitches at Arthur Road, Motspur Park, owned by the Corporation. 24. CONNECTED CHARITIES (a) The Friend5 of King's College School (Charity No: l 005992) The object of The Friends is to advance the education of pupils at KCS and KCJS. In furtherance of this object the Friends may: a) Develop more extended relationships between the staff, parents and others a550ciated with KCS and KCJS. b) Engage in activities which support KCS and KCJS and advance the education of the pupils attending. c) Provide and assist in the provision of facilities for education at KCS and KCJS not normally provided by the Governing Body. The Friends gifted £74,355 to KCS and KCJS during the year (2023: £92,863). (b) The Friends of Squirrels (Charity No: 1139036) The object of the Friends is to advance the education of pupils at Wimbledon Common Preparatory School. In 2023124 £2,168 was given in donations to the school, {while there was no direct gift in 2022123 the Friend5 Paid for services on behalf of the school.). 25. POST BALANCE SHEET EVENT On 7 October 2024, the Corporation completed the purchase of a former school site in Wimbledon. Heads of terms were signed on 24July 2024, prior to yearend. As the purchase was completed after the balance sheet dite and represents a non-adjusted event, no adjustments have been made to the carrying amount of assets as of 31 July 2024. The purchase C05t 01 £8.5m will be recognised in the financial year ending 31 July 2025, 49

THE CORPORATION OF KING'S COLLEGE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2024 26. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted and School Designated Endowed Funds £'ooo £'ooo £'ooo Total 2023 £'ooo Note5 INCOME FROM: Charitable activities Tuition fees Ancillary income Other trading activities KCS Enterprises income KCSW International income Investments Donotions 35,883 3,307 35,883 3.307 1,386 3,271 232 104 1,386 3,271 232 600 475 Total income 44,183 475 44,679 EXPENDITURE ON: Raising funds KCS Enterprises costs KCSW Incernational costs Finance and other costs Fundraising costs 744 840 85 279 744 840 85 279 1,948 1,948 Charitable activities School operating c05¢5 and grant-making 36,213 928 37,141 Total expenditure 38,161 928 39,089 Net income before transfer5 Transfers becween funds 6,022 (5) (453) 5,590 19,20 Net income 6,017 (448) 5,590 Investment property gain l (loss) Other investments gain l {loss} Pension scheme actuarial gainl (loss) 943 943 Net movement in funds Fund balances at l August 2022 6,960 (448) 6,533 70,188 6,287 3,389 79,864 Fund balance5 at 31 July 2023 77,148 6,308 2,941 86,397 50