WYCOMBE ABBEY Gids. Edu(atN)n Company Limtted Annual Report and Consdidated Financial Statents Year end1 31 August 2021 Charity Iwrnb. 310638 Company number. 47031
Glrls, EdLKation Company knmited Year Ended 31 W %)21 cOntts Remew by the Headmistress Council Members, Offlcws and knrs Annual Report by the COU11 Oncluding the Stratw Rept)rt) Independent Auditorfs Rewt 14 Consolidated Ststement of Flnancial Actmbes 18 Consolidated and Chaity 8*nce sheets 19 Consolklated Ststemtht of Cash flow 20 Notes to the Acc¢xJnts 21
Glrls, Educatton Company Umited Year Ended 31 August 2021 ReeW ty the Hea(kn15tresS FouTh4ed in 1896 by the plorng Headm55tress Dame FraTKes DOK wYCnbe Abw has been a der kn yrk, educatkjn for 125 years. The School'5 visi( is to k at the forefront of boarthng ed¢at)n and to recogrll5ed gbwly as a world dass scknol. I have recentw completed my second year as Headmstress of Wyc¢ynbe Abbey l am commrlted to continuing to promde a first- class, holi5tlc educats(y) to wpi& ersurfrg that ty d0P the kr dwacter and Confiden to excd in thelr future careers and I% Set in magrMfKent grounds spanning rne tr4n 170 a¢re> (xr 5cFxxA eryt)ys a rarEe of exCdnt rrKJderr) faalrties, induthng a Swrts Centre with a 25-metre indoor ted swmmry FL a dae sith a fitness st10. a Courtrard Café and a Performing Arts Centre with a theatre arxl recit hall. Dpite the CoMd-19 p1 Nmbers have risen aTrd a5 of September 2021. we Fove 690 pupils on roll aged from 11 to 18 years.. 593 are full boardw& 67 are day ixwder5 and 196 a In the Sixth Form, The majorty ol pupiL% come from wthin a ontrUr radiu5 of Lon¢)n; other boarder5 tra¥el from fvrttw afdd. Mow th 35 nationaSties are rePrented Mrithin the Sch)ofs full boaftlM)g communTty. marE deci51ons about the stfdtegk tllrection of an organfiAdon is both a Pre aThl a resposIbIlity and the School has engaged In an examlnation of it5 5trength5 an¢J weaknesgei exploring fvndamentsl questlons abcrtJt how we can and should stèk to achleve our vlslon. We have outlined the roadmap forthe nert five years in rjjr Strategic Dir0 125 which is set crtrt uryler six strate8lC pillars.. Academic Excellence, Pastoral Care and Wellbe1 Leadership and GrowtN Engagement and Connectivity, Global Awareness and hIte-FOcuS and Transformational Chary. Chjr pLins are arn1105 ar wide ranglng and wlll enable Wycombe Abbey to contirwe to flourfish. bU1ing on Its I£ IIILwlous hisioryTNs year we erwd Walters and Cohen to work with us to create an Estates Masterpkn towwrÈ thatthe &reIes1Pcsthe b03r exrienCe and a future.focussed curriculum. The 2021 GCSE and A Level res% were tosed cm Teac Assessed Grades is5 by tPt SchooL 99.6% of all GCSE entrks wtre graded A_A At A Level. 94% were A•_A Every year gir secwe pL at toprankn.thg UnerseS on COmFEtitlve courses wlth the majDrity headi to Russell Group uThstr&tses IudIrV8 appro)omat 20% to camd8 IncreaSiy. rIS are chooslng to appty to unwersibes around the vloth and we have a sw US 3ThJ Intematwjnal uMer$e5 programrrt We are dejighted wth (xjr academic re5uk5 al higher e(kJcthn IAJtc(xn25', tFw testament to the hard workaThJ ded.CatyC of the staff and pupil& Wycombe AEèey Is comnrritted to edLKating the wwe pSon and we offer a wy imad range of c(KurrfcuL4r and errichment Op[rtUneS for pu15 of all ages to enloy. The OF soft s11$ inckJdirÉ the abilty to wmmtmicate In a vari2ty of arcumstancei teamwork dershIP, eny)bonal intellEerKe is essentol fcr ChaInge5 of 'n8 and wtrknng in the 21st Century. We enfoy good relationshlps wth the grammar schoojs h) Wycomb& and Cressex Ccrnunty SchLY)l and devdoFAng our Partrrships artd Bursarks promgon is an area of strateg¢ focus o¥tr comwE yea As we come out of the global pandemlc whkh has dominatJ the past year5.1 am Very muth looking forward to Cgntinuing to work Yrfith parats staff, PUFX'ls ard Members d CO1. We are excited to mark 125 year in 2021-22 a number of events that ¥MII bdng together the Wywmbe Abty communrty SctrK)l the oPpbJrXty to rell&t a5 wdl as to lo(* forwdrd v confiden. Jo Duncan MA (St Andrew5). PGCE (Cantab) Headmistress Dat< &1 2K)LL
Glrls. Educ2tTon Company Lkntted Year Endd 31 August 2021 Coundl memlxs Offlws Athrfsors Mce Pre51thnts Mr A M D will LLB FCW), Mr5 C M fvthtrJP BA arxj Larty sa55[ MA Members ofcwndl The following seryed as Council members drring the year arKJ L4J to date of 98r1 ttys report. Mr RKhard Ashby rik Bsc (E ARSM FRICS Mrleremy Bailey ACA PrOfsOr Loulse Fawcett MA DPhll Mrs Aman GIbn BA (Oxon) (appointed 25 nIllry 2021) Dr Caro Godlee 8k MB Bchtr Mr Patrick Lcwis MA MBA Mr Damd knllycrop MA LLB FCMI Drlane MacOoLEall MA MB Bchir FRCOG MD Med Mrs Dk?na Rose MA (Cantab) Mr Peter Warren MA Chrrnan The Rt Revd Dr Ajan Wilson MA DPhil Buth Mr Wchard Wlnter CBE FCA Miss Nicok Emerson 8A Msc MBA (apptxnted 22 Septenknr 2021) Mr Vivek Ganotra BEng MBA (app¢inted 20 October 2021} Mslenny Lovell BA(Hons) Dip Arch ARB RJBA (appnted 11 DecemEw 2021) Mrs Rosalind Doctor FCA (to 30 November 2020) Mr Mark maC*enZ Croth BSC Mk MBA (from 1 Dents 2020) Headmlstress Mrsjo Duncan MA PGCE Bursar. Mr Mark MackenzE Crook5 Bk Mk MBA Lloyds Bank PIC 27-31 Whste Hart Str Pligh Wycombe HP112HL lTh%urarKe Brnk5 Marsh Broker5 Limited CaFltal HtyJse 1-5 Perrymount Road Hawds Hwath RH16 3SY Stone knng LLP Boundary House 91 Charterhouse Street Clerkenwell London ECIM 6HR Page 2
Glr15' Eduoilon Company knmlted Year Ended 31 August 2021 Cour1 memb& Offlcws an¢J AthtsoTh (c(dI Cazenove capit Management 12 Moorgate LondDn EC2R 6DA CCL4 Investment Marwnt Senator Hou, 85 Queen Victcla Street London EC4V 4ET Pathbone Investment Management 8 1#)sbury Circus London EC2M 7AZ Aud Crltchleys Audit LLP (Statutrry Authtcr) 23.38 Hhe Bridge Oxfc*d OX12EP Mercer 7 LtsChde Avenue Edlnburgh EH12 9DJ addw and Wstered Qffl Wycombe Abw School Fran5 t)ove Way Hlgh Wycombe Bucks HP111PE Web sitv, Emall.. www.wycomb&bbey.cem bursar@wcombeabw.ccxn
Glrls, Edu42tion Compwy Llnlbj Year Ended 31 st 2021 AnnLd Report ty Cryjnd The Memr5 of C¢)urKI ofthe Gkls, Edurdtion Compary Llmited Dhe Sthoof. thè-ccmpany" or the-charitable Companl) present thelr Annual Report for the year ended 31 Aug( 2021 Lmder the CIHrtfies Act 2011 aTrJ the Ststement of Recommended Practice "Accounting and Reporty by Charityef SORP FRS 102. the Dwectcys. and Strate&'c Reports, under the Compar4e5 Art 2006, togetFw with the audited acccyJnts for the year. REFEREN AND fvDMNtsrRATIVE INFORMATION The Glrls, Educats"on Company is a rstered charlty Thjmber 310638. limit by share5. Wds consdtuted by Mwnorandum and Artlcles of ASSOCIad in 1896 with the reg'5tration number 47031. The GrJP ConSts of the Glds. Education Company Limited known as Wycombe Abby. and its srK 5ubsidvari Company has fJr whoty owned r-Char7tab 5ubsklari Wycombe Abbey seCes rred Iccryany nLrnber. 2510811) receives 1Ce from the letting of land and bulldings at the 5¢Pr)¢l and any othw actfvity not (kemed to fan vA¢Nn the Sdv)c4's tharrtab statu5 irKkndlng the Sck)d Shry whKh Sells unifomi and other items to parents and girl& Wycombe Ably Developments L#nited (ccryany r•Jnber. 0954970) hande5 new buiidln85 a1 mapr redevelopment projects a5 part of bng.tsrm inpr0verrrt of the SdK)ol E5kte. Wycombe hbbty Internadonal knmited (company number. 09911805) manages the IKwtslng of overseas schools. Wycombe Abbey Penslon Trustee5 Lknlted (company wmber. 3743179) a TNstee company f( Wycombe Abbey 1966 Penslon Scheme for Non-TeachiThg Stsff, a powon schyne ck)sed to new entrants from 31 Decemèer 2003. The Company has two Ilnked charitable subsKfiarles.' Wyeombe Abbey School FOUndatn CWASFI {re8tstered tharity nwnEr. 310638) 18 a Ilnked clwritable subsldi?ry wth a separate Trullee Body whkh rKeNes and distrbJtes funds donated the fUrther?e the tharitable oblecis of the Sthjol. Wycombe Hong Kong F(yJndation has sinr otlects to the WASF bu¢ Lg based In Hong Kor Each rnember of Counol Is a Trustee of Charity and Clrettor ofthe Company. hc4dkng one Ordlnary Share thereof. The day.104ay mark8emeni of the sd b deaied to Headmlstress SLPPOrted by the Éxecuthe LeaderSP Team and MMberS of the Wlder Leadershlp TearrL The Executyve Leaderthip Team fELTI cernprise the key management per50nrtd of the Charltx, Sn charge of direcrlng and contrdlir& running 2nd operats'rg the School oi a day-to-day basis. Nember5 of the ELT are.. The Headmistr85s, Bw5ar, Senior Deputy Head (Staff), Dewty Head IPupii%}. Oewty Head {AcademK). Dia¢r of Safeguarding and Pupll Welfare, Dlrector of SLxth Fcrn and Overseas Puwl Cocrfdinator. Recruknient atTra TnI Memben of Council are arpc4nted by Councl folkhMrE re(onwnenthtions Ly the NInInatI0r Committee whch comprfse5 the Chlman and other nominated members of CounciL New nterS of Cwrt¢ll a IndLKted k)to the worklngs of Charity kncludlng polcles and procedures dwing an Induction tOgraMn speck41ty Organed for them by the Headmistress and Bursar. It15 Councll polScy that members of Council undergo reknnt sFdali%t training where appropriate. Pay pdlcy forsenlor stsff Mernbers of Council do not receive rernwffitn for th dut*s as a Memtw of COU1. Tke pay of the senior staff is rleWed annual aThJ rmalty Increased in a¢cordartt th average earnirE& cnCil b¥Kl¥hark aEJnst pay levels in other independent sthwls of a skniSlar Sy, Iornia1 n8 aLab in awegtt fomi
Glrw Educatlon Compry Urrlted Year Endtrj 31 August 2021 Ann Rep)rt ty Cound (ccffitkn Bisk MarA2errrt The Counal examines the rnayjr rth ttNitthe SChry fKe5 eath year kn wdating the PJsk Reyster and any strat plan& The School has developed systems to monit¢x aj CLY)trol these rsk& The key contr$ used by ttE School IludE. Annual revw of risk5 ccr6idered in detsl ty the Risk Comrnth and by C(xJnol' CCreher strateg'c pknnin& LNJdgEting and rrwwrbt accounts.ng establkshed orgathtional structure of rewtiTr6 Form written polioe5'. Clear authori5atK)n and approwal Through the annual review of risk matr7agement processes estatshed fcrt- tr Sch)oL Counal is satisfied that the Tr4i(x risks identlfled have been adequate marAged. is recwised that sm$ c2n On pr(de reason but not absdute assurance ttHt major risks have been adequate manage(L Coun(il determines the general pollcy o( thè SctKX)i and rneets at kast frtimeS a year. Countil is serwiced by slx sPealSt committe three of which have respcffisibl1 as folcwx arKe aThJ G31 Purposcs11)', EduCa[K) Pastor ar¥J Boarding121; Stsff Devebwent arid Safeguarding {31. The members of tlEse Committees rret before each terrn meeting of the Council. The reftwn1d three committee> The Nominations ComnMte (4). Dei cOmrMKans and PR Commttee {5) aThJ tk TeathErs' Remunerntion and PerNon5 Worn8 GroLP (6) meet at least orKe a year. and as and wheri nècessary. The cornmittee Strutture has been uFthed f the year 2021r2022 committw f(r Huron Rtsourw aThJ Risk Members of Councl seryed these committee5 the year as fd (i) {3) 14) 15) (6) Mr Rlthard As Mrleremy sleY Profèssor Louise Fawcett Mrs Amanda GIOn Dr Caro G¢dke Mr Patrck Lewis Mr Dad Lillycr(v Dr lane Mact)ougal rs Dna Rose The Rt Revd Dr Ajan Wrt50n Mr Peter Warr Mr Rlchard Vwnter The objetts of the Company inckKJe the proVSn of COMett and SYSter edLKalion and traiMg for &ds," thi4 is met by the ongoin& gjccessful opwation of the SctrL The vision arKJ alms of the Sthcd wFMch15 a charitslk ccfflpany. are enComped h the School's Strategk Han 2020 to 2025. Vislon: To be at the forefront of ¥ds' tx)arding education and recwtsj as a workl d&ss scL
Gldg Educxtkni Company Umit
Year Ended 31 AuSt 2021
AnNo1 Report by thJrKJI (contInd}
Mi55ion'.
To Insptre every pupil to strive for amtr#tytyJs goats aThJ to recw•5e that tw C¥b make a POsive differen in the workd, now and h)
the futLJr&
AJ'm%
The PSt ofadeMiC excdlen
devdopment of each irmdUars tatents in creatro phycai atvj socd
encouragent of faith in G¢yJ ser¥Ke to other peopk al a Wpy, funIrE and carirE commty,
Strategy..
To adMevÈ th<School's vision and mtssk)r4 wl bÈ a focus on srK Straty p
1. Academk &Xcellen. Pursulng academlc excdlaKe through sdvjknhii intekttual dylknge and the development of a
genui1 love of learnin&
2. Pastal ca and W211bein& Providirg (xrtarKkng F¥Stora care whKh 5UPF(fts iThwdua15, promotss tal health and
wellbeing and enabks each pupl to flOh and fuN th poterrtiaL
3. Leadership ar¥J Groth. t)eVelon8 an Impyesgy trWormlrE aaff body with 5trr)ng kadersNp at 1 levds
whkh is lIt ye5 oftnrt respett and eoUragent
4. Engagement and Connectivty. Bullding strong 9Jppfft reLtrshi irh wy.area whth is manife#ed In practr
erygement with the Sthool's Strategc obFctNe&
5. Global Awafftness and FutUre-F1& Offly)g a futsJre-fttu5ed OJrKar and co
Glrfs. Educatlon Company Lknited Year End 31 August 2021 hmual Rwt ty cou1 (C The pandemlc gnIfiCanY curtalled the Scknofs partnership opptrtuths drring the year, and it lrtend5 to retLrn to its trad0[ helghtened ld5 of actimty a5 scon as circwnslances k. There contlnues to be a strong of partnership betsveen RGS (Roydj GraMrn SthooD in High Wycombe and Wycomb& Abw. As well as shared socil events there are regar shrnl academic forLTh& Lnwersity acatIo[l support and the sthmner trmi marwment COnferer for slxth form dents was able to 80 Due to the Coronawrus pandwmlo pupfffj corKentrated on fijNJr% The Head Glrl Team started the year wrth a in aKI of Yes WycoM, a 1¢X chadty that provide5 free counselling and sexual health dink for 13- to 2>Ye-Ok The charity committee.vKked Fwrd to iLkn for futhlskng at ow armLAI Bcnfffe Nlght and arrNed at the idea of each boarding hse cwtSng a Hamptr and a raffl¢ FuS raed fcy ow elected chantte5 Wycombe Homele5$ Connection and Renevrable World. A Christmas lumper Day wa5 hdd in akl of Save the CF¥k a%>Ev41th a gen colledon of food item5 for our local food bank. the aie Can Tnjst In response to the 'EveryC('S In%Yted' Campaign, the sixth fomi ran a w succtssfvl mufd day and ra15 funds for the Rape Cr1515 Centr Butler boarding se creatsd a book calkd Tk Girf ar¥J pk.. Ths was Itten and illustrated by the House aThJ sold to staff and Paren TNS prc4eci raGed fLm& fc Acti for Chik4ren. Funds were also raised for sa Ctrykjren, Headway, NHS Char(oe& Sptyts Relkf. Central Ad. Wodd Reader, H¢ytions, All S&nts Cmjrch High Wyc(xmbe, Virufy. aassks for Ai Mdane5kn MIOn and The Glrt5' Netrri Total pupll for yw was ne¥ty £17.C(Ll. The paTrJemlc dld mean that the Schod's atty to open fac1119 to the commty were limlted but the School was able to )St EngL4nd Lauosse In the Easter and SLYbYner hOlda run 4 5umrw schJol wth the Cressex commun School and also host the anrwl sports day frx Wyc¢mbe CIMJrth Ctynt•ied SdK Empw Pol The School 55 an equal opportunWe5 employer. Full and far con5bkntk)n b &n to jc4) aCatiOnS frcxn dsabkd per50n5 and due conslderaJon Is &ven to their trydin8 and employtr.ent need& conSuhati with nOyeeS or ther representatNes, has COnnUed at all levels with the aim of taknng the ewS of iWoyees into aCc(¥rt when are made that are Ikely to affert thelr Interests. Empljyees are made aY4are ofthe fInanCk pWfOrm ofthe Schor Safe8uth Policy The khool 15 committod to SafeardIng and prorTr)ting the wdfare of and e4)e¢ts al In our ccthmuw to sh¥e this c(xvmttrnent. The Sch(x)I has l(ry been renowned fcr Its kadtrshlp In leath1 knnln& pastoral care and a wde range of CO• curricufar athv5. The Sthoof5 commkniert to be a lea(kn in pupl wlare. 15 embocled in CLwrent Facti5 where the School strives to place wpll care at the heart of all that It The SC seeks to COMirwryJ5ty d0P knpr(we our safeguardlng pollcles and pr(Kedwe5 and to promote a ajlture r)f excelknc£ Tr khcd's key pckne& trtedures and summary docLments are devdoped in line wth statuw gJlJano N reguktory reqLwernent& Lcd AKrthMty u1rerrents and t practice. Dats Prot¥Uon Pollcy The School Is commltted to complance with the GeneA Data Prrtection ReLlon {"GDPR-). For the PLrpose5 of the Dats Protettion Att 2018, the SchcM)l is trE"dats COntr- of personal dats aut PLpI5 a1 thoir Part5 anayor guardians (¥our pemnal data). Personal data PYlKessed by the SthcKA Iude5 contact detwls. ojrriculum and Ot assessment results attendance informatlon. special eihJtatK)nai rted% cl Wlmis for identy purpose5 atMI engaging in School acbvlties (and in relatlon to parents andlor guardAns, rrw incbjde financial information). may a0 Fyocess sensttNe personal dats such as ethnic group. reli8lOiJ5 lÉfS and rÈlevant Medal infoTmat*?
Glr4s' Education C(Jmpany Lknlted Year Ended 31 W 2021 Amual Report b/ Cgundl (corttwed) The School has completed the Streamkd Enry and Cartx)n Reporg Proces5 fsECRI for the second year. Key extracts ofthe SECR are promded Ow. GrèenhcAJse gas enss5 fGHGI data as folk 19-20 Energy consumOon used to olculate &ni18K)ns (kwh).. 1 marKhtcvy sources are indLKled. 10.790.526.2 9,435,420.4 koFe 1.. Emissk)ns from the combu5tKJn of naknal gas tC02e 1.17Z9 949.4 Scope 1.. EMIn5 from combustKJn of for tran5POrt wvj l or tC02e (see ewdence pack for breakth)wn) 474 517n Scope 1.. EMI105 OF Eynass Pellets tC02e on Scope 3.. Emlsslon5 from buslness travd In eMpbYeewd Nthde% %here corT4)Wy repald mileage claims tC02e (average vehde I fuel Sow Lkn) 0.8 35 Scope 2.. EMipJnS from pwchased decirfcity tC02e 535.2 521 Totsl gro55 C02e based on above (tC02e) 2,182.9 1,9915 Intensity Patio 1: kg C02e woss based on alxm pw (kJrirE 2019- 20. 3.38 tC02e 3.13 tC02e The erner data ha8 been c(xnpiled and audited by Sean Miy (ESOS Lead Assessor) of Powerful Allles Lkn1 C18SE Registration No.. ESOS185262. kn evIdenbased methodokw was a<)pted in accordartt vth BS EN SO 14064-32019. Sectyon 4.3. The School continLE5 to pke a W prKJrity on raqucing any adverse impact on the eThironmert fr(xTh ks actswties as far as posslble. Th& is a joint staff and Stxth Form sustair.ab'.lrty team meers c¥) a reguLar basi& Tr School 15 Current delopIng a long-term maslerplan for its estate intends to CaF4tthe cm otporturytips frcffi [dn l'rE standards and infra%tmcLure inprovements to significantty re&Ke its energy cortsuMpti. The Glrk, EdLKatv)n Company LImtd (WYce Abw) are particpants Sn the Energy Opportuw Scheme C'ESOS'I. OrganisatiOTrS that •Jalfy for ES05 a to orry ESOS asSents ¢wy 4 yearn The Sthool's first ESOS Phase11 Report was completed in Decetnber 2019. The aS5esynts are awjit of used by thew builthngs and transrx)rt to Iden cost effecuve energy 5avirg measures. The Sthod los started to sever savirvd irit4bves to reduce Greenhouse Gas Emissions (GHG). Procurement of 100% REGO backed Zero Carbon Rene Eknrioty {se 2019). Min1se5 the xhwls GreenPse Gas Emis$1(X)S a5 part of a Fuel Switch and Natiorkil Decarborisation 5tratw. A rcaTrg Brogrdm of I1.nE upgrdde& continued throughout the flnana31 year, wF4ch Is now r[ffig completton {aw0matelY 95% Ckne, Auwsr 2021). The Scho)I rewns keen to explore OpJ0 to decarborise Oilhed Heathig sy5tem% preparation. the schwl are currentty upgrading High Vdtage suppFx to the support of a traffjitI to deaner heating soknw6. Mains Gas reductions Include building fabr¢c improvements and in5uLaUon waNs haNE been hwjated aTrJ suspeTrJed ceilww alled to reduce heat l()sses and volun of air ¢LxkJitDniA& Page 8
Glrls, Educayon Company Um5teJJ Year Ended 31 August 2021 Annual Report by C(yJrxll (contlnLRrf) The School tros improved energy meterirg in a to Ickntify the effioent bull dings and Ser) whlch will assist in prioritising prq'Éct& The Èxght Electricity metws are avalable VA an onmne pcrtaL BLYning Oil and Gas Oil fud use Is now monit(Yed by the ol supplier and sd01 also ha5 Ptal acce ml rel show dwly average consumpdon. whlch should ako be monitored against extern teryeratures wBttr commpti(n to assess fabr( impr¢)vements and water saving opportunit5. baseline reportwg year of 2019120 CIl a Ftiod of n¢xma] sthcd actmtses arKJ the frt Nativrd L(Kk(kM, due to Cowd.19, when Khw15 reopened lar in ts year and signifKanty trreased ventiFatson was required Thereforo the compariEon between the rep(ting Per7 does not reflett the actKJns tsken by the Sckd to reth erry and cartKn emissions, whith will orty become apparent In future yea most significant ener conxmption for heating aJKJ (kxnIC Imxwatw. a deortx)nisation prlorty for the school. kope 1 EmissK)Tr5 account for 75.4% of tot em7wS, of wtrwch 98.4% of Scope l are attrit¥Jtable to generabon of heaL dometi hot watèr. and caterin& wFwe caterww accwnts for apprrinut &7% Further rgjurtions in electrkity use have bwj to the MethanKal Venb"kts"on Systems and reconfiguration of the kn'lthng managernrt wEth the Swrt5 Certre Te ow1xtes ar2 Current being InvestIted fwther and thrill be constdered further. f11r% the rwJJtts of the spec4kt contractrr assessment& ATEGIC REPORT ACHIE1M&rS AND PERFQV4WCE Pu1 Numkn and AodankpthernÈrt DIng the 202012021 year, Schod had 646 (2019I202fr. 636) of 62 wwe day pupik (201912020.. 63). The School'5 acacknic rewlL5 in 2020Q1 wffe eKeknL At A 63% (50% 2019120) of subject entries re5Ldted In A grad. 94% (91% 2019120) 5ted In A or A Wddeg and 99% (99% 2019r20) restsed in A¥ A or B ades. At GCSE, 95% (91% 2019120) of subject entrie5 re5Utted in A 9 cr 8 aj 99h% (98B% 2019120) reSue A• A. 9. 8 or 7 grdde& From a cohort of 99. 16 gr15 seoJred their pke5 at the LknlWer& of Clxford C Cambr& In additM)r4 8 wrls have gone to Study in the US It unherrities induding Stsnford. CcthJmkx4 Georget<yMI U[%ty of Chicago and Unwerrity of Califomi& Berkey. Subjects be stud cover a wide rdnge irKIle Medckno Datsty. Econc¥mks. Law. Sdee and History, Languages, and Psychdow. PE dePartml experienced the ChaIr of i)ne trn of rwnote arnIrE and the pan(kmic rrpaning off cixmpetitlon5 were not wssible. hower there were scffie ex¢itsTrg rew liltraS SFXXts intr0dLa ding the year and creatlvty appl to teaching remotéty. AthlÈtiC5 The girls enjoyed training and beirE the to corw durirE the stmnmer temi, after mng Last year due to restrictions. The School entered two Mrtual athleDfj coMpet(x ¥r95s all year grwp& pkn(irE 2nd & 3rd UIV and LV fillhed in 1st Pla in the Dlstryrt compety'tion& Crick Crickèt Was intrcdwed into the sunmer sp¢xts cwricu1l for uin to LV and to jurOr, Inter and Sethr squth tr1r& As thls was the first time many of the gids had pL4yed uicke( soft bal in 5$0 a1 frArd tAII y4d trainirE were introduced. of these were well receiv& and the grls eri)yed takirg part The Sch)d entered khod Spgrts magnE national U15 cricket cOMpetOn and played sthools in a lool league wtthin tty5 ¢ompetibm Thets were swal on the Performance Program for cricket and these glrls have be fantastic role mcdEls fcr the peer& Page 9
Glrf5' Educat50n Company LhTlb Year End 31 W 2021 Ann1 RqJ¢xt by Crymdl (contlNed) Dance Dance Club5 were Set up for Ulll- UW covth a range of drfferent darKe styks aj learmg atr)ut choreography. A nv)re advarKed dan dub was set up for Old pupds in (clabcx2tion tFE Dae captaIr. House Dan was a successfLI day starung with a variety of workqhops: the afternoon was trtn SFt thoreographiryd arMJ t evering cowsted of recorded FVforMan Thls yeaEs theme was'music from the mowES'. Several from U13 to Senlor level attended Engknd RegicThl & Natinl academy traiing over haterM wf(h many belng sekned. Puplls were s0 invOd in Ot1 international Sqad5 IrthirgWa& ScodarNI Italy & Ireland, Perfomiance Pr¢grammes The School's Performance ProgrMe Was kunched at the start ofthe year wth two kn.. The Perfomiance Athkte Programme and AspTr8 AtNete Programme. Pupils at re( or eqimlent te¥d CY are of a tslent pathway in their chosen swrt are invited to In PerfomwKe AtNete Progranin& Those wkj dur.onstrate to access tant pathways or who are c(rrlltted l-r0d athletes c(Nnpeting aG-oss a rangc of sm are irmted to j(xn the Aspiring Athlete Programma Pupi enjoyed week condldonlng sessk)ns rth) wth the Sd)ods new stra)wh 2rKI condt"oning coxh and attended tth on nutritlon and p&forman. Both programmes.are testament to breathh depth crftsknt at Wycombe th 87 girts clYnng across 14 differènt sports. Remote Learning In lanuary the khcx)I launthed a remote initiatNe caled the PE VNYeo VauL TIMS was set up as a Microsoft Stream group wrih various channels Frtness & Wellbeing Challenges,. Skills and the knmer Series. Ttre dwnnek auwed twrmber5 of the PE departmwt to ord them5eke5 leading workout5 arKJ coaching tutoria15 that PUFIS (OUk access remcrtdy. TIM5 was very Sucsful. and many wpi15 have used the wdeos c(XTyktitrg the We activty kE5 needed some yw)wath)n and motNabDn. We were delighted to Liunth OLr Wycombe Spets ltogramme In the Swlng Term. For our first tall we were treated to a highty Infom)atwe and interactNe tslk by Da¥e sinp, Head Ch U19 Ofk03[KI Lacrosse Women's Team. He spoke to U5 abcyjt what ic takes to become an elte athlete and to bala@ with sdwA and famity commitmÈnts. Our sttond speaker was Hari james former Wekh sprinter arYJ roww arKS rK)w Cr05sfft athlete SI spoke about her life in sporL arfvlce about how to Stay motnAted and hrhy to 9Ure you meet your tlrE nLrtrition goaLs. particuLqr in bckdown. 5wmming Al 8wls had the OpportttY to partiapate in a YrtLBI g& terFn ynst knen(kn, HSe, St Mary5 Axot and Piper5 Comer. The gids al SWLTh wel in ttr time trpb and came tyrt on tcp in age.groy. Ajongth the coryekn swknmkng squad& pupik who been assessed as rKJn.swmmer5 or yk wrTuner5 have been giw opportwtiy tt) attetKI an ad(Ition svAmmiFig session during th&r scFwl day. Tenn In the Autumn Terni an Sntemal Tennis We wa5 (reated and (w tt) al &rL¥ in the xhoL)l. The take wds with over 70 rls sgning up. (kn- 150 gir& tod( part in competitfve ftxttJre% 3ga¥ist (VI"[10Th sth(xAs Stowe. Marorough and aleybLry, Wth many more pS in interrNIl c(xDpetstrye trriThrg rTHtrhes. The intrcthctv)n of the assistartt of Livin8 Tennis coache5 to Squad trthing sessions Fos bn tenelkd to aid the of the taciical and trchnKal knowledge abng5Kle provldng addlOn dance and 5UPP(rt to tr.e PE dcpartme ring the ye2r the Sch(K)I rec4¥ed of £317.OW Q02tr. £27&000) Wjd1n8 fly the flOW1[vg purpo5e5'. Qane5e Learrmng Centre cl,000 Q020., £nil), Verdant PAJnary Fur,d £30.LKX) (2020.. £niQ. sarr TesL¥ig mathine £38.ffl0 Q020.. £nill, Boarding House FuThJ £1.00012020.. £148.OCH)), Bursary Fund £19.OCQ (202(Tr. £36LIJ))'. Gewal FLmd £129.oI202(I. £23.0),. HK FOUatiOn £nll f202Q. £50.CW). FundrsIng actmtses were undertsken by the SdKM)fs D•ment Offre in the year some gJpprt from Compton Fundrlyng Consultarts Ltd. There were no profesSwl furth(rg (xgani4tfJns ed n thtyear therefore no monjtorfng processes reqLAred. Page 10
Glrfs, Education Company Umlted Yw Ended 31 August 2021 Amud RepDrt ty Coundl (C rhe School is registered vAth the Fundraising ReguLator has paKJ the Yokjntary Iwy. The School adhe to the code of Fundralslng Practi when uTrJertthng fvJndraNng actMtse& There were no CoMlts receNed by Schoc4 in r&tion to the tundra15ing actAIty in the year. The School not seek to rase furKls (r¢Jm the r gene publi Tr Schwl takes its rpOnbI1ty to anyone who Mht be vulnerabk very SerK)l ar this VAL c(x)tirKJe to in the Sthods aFvoach to funchigng activity. FNANCL4L REMPN rc Rttsuks Incomlng reSCyJr amounted to £2&5 P02fr. £27.4 million). Resowces amcwnted to £24B millv)n12020.. £22J minson) generdting a rtt knccrfne ftr year m0Verner on YeSnt Yaljes of £1.7 millic{202(. £5.1 rrlllionl. As usual the majority of income 15 fr(xtL sthool fee$1£245 mthon - 92%. 20211. £23£ mi11c - 88%) but wlth inyortant contriEwUons from donors1£317.000 in the year- 1.0% YJ2th. £27&0(M)- 1.0%) and the trnding SL)swJLirles IndudTré income frcth our international arrangements (£270.QMJO In the year- 1%, 2020 £276,1 1%). Ofthe School's revthLt ewKJittTe, £14.6 rnilon or 58% 15 on wages and salaries (202Q £13.7 millh)ry 62%). The consdidated bakn shows net ass&s of £66A mi11¥120. £63.1 million) ofwhich 70% is ryesented by tan&ile assets of £47.0 millh)n (2020: £46.6 rThifion- 74%). Unrertrict net arrerrt assets are a pThbve £10.8 miknn 31 August 20211202 £8.1mlllN)n). The School Subslae$ made the fDlk)w¥ig conthbutK)ns to tkr swpKJ Wycombe Abbey'SeNce5 Linited.. Inil (202>. £4£1V repre5entirg inccffie from the Schod slKy r(wn frorTTr 5ale5 of uniform. The ¢knease arose due to the CcfonaMru5 paTKknK as the was lble to open in summer to resldential lettirgs. Wycombe Abbey International ted., £785.0(J) (202Tr. £1h80,CO)) representing the income frcm Brtiish Education Llmhed in rdatv)n to the operath)n of Intatra1 &ster schodL Wycombe Abbey D?ents Llmtte& £nil (202Tr. £nll), te were Th) bLthg p@ects dld tke year and wh administraOon costs of audit 111 irKtrred tl¥s tlve WJS a small dd¢iE in the year. Impad ofthè Ccrtrthlnts PaTrJemk The Pandemlc meant the School was dosed nN)st ofthe Swrg Tem switthed to a renN)te kthng prov$ion for the secor me in line wth gwnment guidelines. School calcthted a re£krt In &Jmmer Term fee5 whKh vrd5 Pa55ed onto pawts and brought the fees for boarding wpils In line with day pl Thi% rethKtth arose frcm ck)sirE the boarding houses and hawng no catering for the rIng Tem). The SchocA placed staff on furiwh and thmed where aPpprIate. on G(WnMent. Coronavlrus lob Retention Scheme ICIRS). The Sch(A conbnved to pay 11 staff, pbced on fiJkn%h 1Crt)% of tsr salary. The use of the CIRS enaed some staff to employed WhIt le to work at the Schts)L I[uding domesuc staff. 5crE Offi staff, visitirÉ PE teacher5 who were unabk to teach and 5(xrr boarding pa5torJ skff. Tead and extra {other than w5tbng PE teache) taught notely. The CounciL whlth absdute discrethJn the tern ofthe htdes of Ass1C to invest the re5ervEs Strict observes the Nmitatton ofthe Trustse Investment The coUrS i to mwntsin incoFne wkilsL where w)551b, prerE of irWe5tnnt% to mthmLse thcome on temporarty irwe%ted restrKted furKIs tr> match the retum of invested Composition Fee kheme kne with the maturatth profie of related liabthty to provide schooling n fLrture year& Wycombe Abbey 5pecificaty excthes frcxn the investr))ent Portrdj cckmpans whxe yattKes are consideray to be in conflict with the Unld Nations conventi( on Rghts.tr Thikj 1989 ard th the Sthod'5 4*ectives as stated in Artides of Assooavon and on the SchocA's websi Page11
Glrw Educatlon Ccffipany Umlted Year Ended 31 Augu¥c 2021 Ann¢kl Report by Coundl (CortIn(d) Asset Cover fe¢ Jnd$ and Resefvas Polty An anatysis of the assets and liabilitE5 attribtstab to and a des(riptK)n of %rJrv)u5 fund5 malntakned by the School b shcyNn in Note 17 to these accounts., the assets are sUffent to meet the lgatSrts of eath (uThJ. Al the wop¥w and other tanOble assets owned by the Company are used for the purp05e5 ofthe S(hooL Tr market ve of Sch(xl's freehold propety is conyderab more than the cost or valuation shov4n in the baL4ft sheet. the accwnting polKie5 of the Company are set out in Note 1 ofthe account> Unrestrlcted funds amount to £53milllI( a1 are r¥ted mawty by fed assets of £47 milliw of whith £42 rlliOn is the land and bulldlngs in which the ScFh)ol operas. Note 21 gives Infom1ati on the Prov for Pen0 Council reviewed and upjated its Reserves Pc4cy in 2021: tims alms to enswe the Sd)wl Is free from the r5sk of dlsruptlon at short notlce due to a lack of funds and that the are suffKient fuThds to undertake Ixw'lthng and refurbishment projects to maintaln the 180- a¢ estate and hs buildings (Inck¥Jing the Schod's resp<)rwtMlity for mintsiivng its listed building5), whtlst at the same time ensurlng does not retain income for lon8er than WLHred. In accordance wth CC19 guidance, the Tru5e5 rewd "free- reserves In the Schocl's context as bdn8 the resve5 of the Schod after deducbng red assets and any funds hew as restrlcted or deslgnated. As at 31 August 2021, free reseryes were c[20r whKh is ¢knned suffKknt to be rerwned agajnrt tt paYment of resldual credrtors due wlthin one year. Councll ha5 amEytiOUs Jans to develop the eduCa)nal in(rastrLKture of the S(hoc4 incluthng enhancements to the btsardlng houses. The Estates Development Rjnd is bang built up to enab thts to progre$5 when funds wmit and CUrn1 holds £3.9m. Page 12
Glrv Education Compry MItl Year Ended 31 W 2021 srATEMW OF RESPOm51B1Lffl OFTrIE COUNaL In their capacty as Trusttts. the CcxMKil L% responsibk f¢r preparngthe ReFJt finanaal statements In accordance wth apIcae law and Unw ngdn Getwally AcceNed Accountyre PrartK Company Law requkes the CcAJncS1 to FryAre accounts eath finaal a true and fair VI of rts finanoal acUw16es thJring the year and of its financral PDgtson at the end of the yrar. In the the CourKiI ha5 follcwed best pradce whKh requires them to.. Se suttable accow pc4(cles and appty them COrtststr. make ludgrnents and estlmate5 that are reasonable aj prlent folow appllcabk accoundng standards, aD prepare the accounts on the gdng concem bays unkn it is inappropriate to assume that the School wl contlnue In operation. The cnC0 is responsible For keepro accounting records th are such as to dklose. wth reasonable accurw. the Inancial position ofthe School at any Me, and to enatle them as tru51ees to ensure that the accwnts compw wth the CompanSe5 Att 2fy)6. The Councll is also responsible for SaferdIng the sdOr5 assets arvj hee fef t reasonable steps lor the prevention and detecuon ol error, fraud arld other kregUrI1 So far a5 t Covnd 15 awar¢ these requkements hm met aThl therels no thant audit Informatlon (hformatlon needed by the charttable companls auitors Mi comec1 wth preparing thw rewi) of wNch the Charitab c¢)mp3rf5 ajitorS are unawar and Eath rrtwxber of Councll ha5 al t s*ps that or She outht to l¥ve taken as a dretr in order to make Nmself or herself aware of any rekvant a(Kit informatK)n ar¥1 to eStabh that the CharItab corwls are aware ofthat informatiorL On behaff of the Coundl.. Mr Pefrr Warren Chalrman Date.. Iqma 2oLI Page13
INDEPENDwfALDrrops RwKr TO THE MEMWS OF IHE GIRLS, EDUCATIChN C(X4PhM LII 2• FOR THE YEAR END&) 31 Au(1 3)21 Oplnll We have audited the fjnawal statements of The Gir15' EdLati CCPanY Lrnited for the year eryjed 31 AUW 2021 thch comprise the Consolidated Statement of PITMrThl Actme& t $cadated Parent Bare Sheet4 Consolidated Statement of Cash Fbws ard notes to the flnar statement% knckjding a summary of sl£r¥fKant accountlrE )le The firkinrial pOrting framework that has been applled in their preparation is apKable law Urited Klngdom kcounting Standard5, Inckndlng Flnanc ReportyTVd Stand¥d 102.. Tr Pinantrdl Reportlng Stsrvjard aPpItsb In tt UK and Re[Xj1c of lthnd (United Kingd(Kn General Accepted AccoJntlrE Practtce). In c4Jr oF%nlon, tIR flnandal 5tatement&' give a true and fwr view of ihe state of the consddated and ptrent charitat4e ccxnpany's affars as at 31 August 2021 and of tts Incomin8 re50urces and app1katn of resourre5 f year then ended,. have been propedy prepared in accordance with United Genernty Attepted Acc(yJnting PractKe.' have been prepared In acccfdarKe wlth the reqLnts ofthe Companks Act 2(X6. forn We conducted our audlt in accordance wlth InternatH)n SiarYl¥ds on Audttkng (UK) {ISAs IUK)) apFAlcable law. Our responsibilrties under those standards are fwthtr described In the Auditcf's resP1[tIes for audit of the flnanclal statements sectlon of our reporL We are Independent of ¢haritth company in att¢at vth the etNcal requements that a rdevant to our audffc of the financial ststements In the UK. Incknding the FRC'5 EthKal Standard and we have fulfilled ow other ethical respowlbllitSes In accordance with these rewiremens We belleve that the audit pdee we have obtalned Is wfficient and appropriatc to provide a basls for our (iorL cOnduOn5 r¢Mngto •Jfn8 ccncffn In audrting the financi statement& we have cvd that the CourKifs tse ofthe brrfng corwn b$ of acCoUnng In the Preparaon of the flnanclal statements is approwiats. Based on the work we have wfcrned, we have not kkntthed any Mal uncert¥ntiÈs relthig to trrtnts or cendffjons thaL IndIdual or colectivdy. may cast g8Trficant doubt on The Glrls, E¢knation Compaty Lknthd's abllty to ¢ontlnue as a golng c¢rKern ror a period of at knt 12 Mcth5 from firwl Ststttts authcrnj fty re5ponlbilldes and the resp$1b11IIs of memiws of the Courril wlth rewt to 8o.ng corKern are deKrfbed in the relevant sectlons of this reporL Other InforMon The other informatbon comprises tre Infonnall I1jed in amual reporL the Report ofthe cour1, other than the flnancial ttatements and our audStor's repcrt thereon. The Counol is respoith the other infom)ation contaird wlthln the annual report. OLf oplnion on the finarK 5tatemw)ts t)es not cover the other inforrnatton aTrJ. except to the extent otherAse explIdt stated in OLf rem we do not ewess arty form ofa$5warKe conckjion tIErei¥L Our re5pon51bllty 15 to read the cthor InfOrmOn In dcx¥ sa c¢ider vA)ether the ulormation15 mate incon56tent wth the statements or our kledge obtskned in the C( ¢the aLh4( or otherw appears to be materlalty mlsstatsd. If we identify such material thls geS rse to a material missfatwrnt tn thc firRncial statements them5ch If, based on the work we have performed, we conclLKk tt tlve 15 a material rThsstitement of other infcrniatiEK we are reqd to report that fact We have nothlng to In ttu'5 regard Page 14
Glrls, Eduth Company Umttul Year Ended 31 W 2021 INDEND AUDrrops REPORT TO THE MBE£ OF THE GIRLS, ECXiCATION COMPNNf Lm[) FOR THE YEAR ENDH) 31 AUGusf s)21 (C0NTtr4U} ONnlon5 on othw pre5thbed lythe ComFwles ki2( In our opinlon. bed the wtrk ur%kn3ken in the course of the audlt .the Informatlon In the Reporr of the CcyJnciL wNth Incluts the direct5. reFXrt prepared for the pwes of company kw, ffx the financlal year for which finats1 statements we wepared ts ccffisisient th the fiftarKJal statwWi. and .the Report of the co has ljeen EYered In accththn th kgal rwhrements. In the lit of the knovled8e and understAndlrg of the conyany tts enfviment oned in the course of the audSL we have not IdenJfled materfal mIssratnts sn the dkectcrs. rewt ¢ncluded wthin the trLStee5' repcrt We have n¢xhlng to report in respect of the matten in rdation to wNth CFRrities (A(clnts and Reports) Regulauons 2038 reqLtre us to report to if. in our opir adequate and proper acc¢JJndrq recwds have Thx been or rettm5 a&qtAte for ow audrt have mt ken recelved from branches not by u or the flnaKW statvnents are not kn attment ¥th the accOtl r&ord5 arKJ retwn& ¢Y certin discbswes of Courtil Nbe$ remUWalx SFedfied Ly a not maik we have Thx re¢eNed all th Irltxmation and txpknati¢)ns we reqre for aud RUp(bIl¥ ofthe C1 A5 explTred more fully kn the Councll resp)nslblltts Staterrent [5et out on 13]. the Coyndl {who are also the threciors of the chadtAble coryany for the purposes of company IMI are rry0ble for preparats.on of tke financval statements and for bwng satKsfled that they gNe a true and falr ew, aThl for sh kntemal ccffltrcA a5 the trustees detemlne b neSary to enatre the preparatlon of flnarÉd statements that ¥e free from material miThemen( whetlv due to frdud or error. In preparSng the finan0 statements, the Ctsjncl are responsUe for asses8 the company's ab14ty to contjnue as a going concern, discIn& as app1Kab. matters rdated to goiry concwn and UrE the gory corKem bas15 of accounting unle55 the COU11 either kntend to IFuthte the company or to cease eFerati(Y4 or have no reltstic alttrnatfvt txrt to d) so. Au¢orfs re¥nbIlles for the audlt statem Our objectives are to obtsin reasonable asgjrano ab[ wlttrw knval statements as a vkKJle are free from matsdal m15Statemen( whetler due to fraud or error, and to tssue an aLvJitor's report that iludeS our cpknlon. ReaSonae assurance Is a FWI level of assurance, bth b not a guarantee that an a1r( ccmdutted acc(xdan with &As (UK) will akny5 detect a material m15Statement when exists. Ml&8tatÉments can arisè frcm fraud or errer aryf are ccrridered materd rf. iThidu or in thè aEgregat¢ they r&isonabty be expected to Influence the e¢ty)omic deosions of users taken basis of these xatements. jrregukre5, including fraud. are instance5 of r¥)n•CCMnFAkince Lqws and rwlatio We de8n prcKedures in line wth our re5pon5ibilitk5, ouuined abo to detert material rrvsststernents in respect of includw¥ fraud. The extent to which our procedure5 are capatrAe of detecting krwlaritsei c*Jd1g fraud Is detaId bel)w. Py15
Glrlg Educa¥on comp nteA1 Year Ended 31 Awst 2021 INDEPENDEW AUD05. PEPORT TO THE M8ffjEPS OF TrE GIRLY TrON IXMhbTf Lf4r FOR THE YEhR ENDK) 31 AUixEf 2021 (CONTN Cxjr approach to idenlfy'ng and assessing the risks of rnater1 rnStaknnt in rw cl irregular4 indL4Jing fraud and non- omplknce laws and regulatityu, was as fc engageFrtnt pathtr $ed tF¥t ¥wgwnent team ¢cle¢tNety hxt the approwmte ¢trtsFttee. capablties and skllls to Idendfy cy recognise rK)womph"arKe th aFFAKat4e and relatiOnS we identified the laws and regulatior6 aPpk3 to the charitsbk cmpany tw th5cusskJns wlth reCr$ItrUSt, aThJ from our thowledge and experierKe ofthe clienvs sector. we focused on specifK ryktKJns whKh we constikny may have a ¢ett Mat&1 effect on the flnandal statements or ofthe thar[rab CcxnF4. we &%sessed the extent of CornFKe wth the law5 and regukty identifEd abrNe t1jgh rnakirE erquiries of marAganent and identif& laws and regUtiOnS were Convrnkated y(n the audit team and the team remained alert to Instances of mn-cornrjrde througlmxrt the aud We &£sessed the susceptibiftLY of thè d)aritibk state$ to materd msstatn( {lUdIng obtalnSng an understanding of how fraud mt ¢xcur, ty. maknng enquIrS of manageffent &$ to wlve C(¥ded tFoe was susrybTrilty to fraud. ther kThJwdge of aCts1, SLJspetted and Èlleged frauth, constdertng the Internal CDntro15 h tthe to rTwbgte ri5k5 offra1 and wth kws regulatiorts., and To addre55 the risk Offr& thrryjgh fflarogement ixas and ofcontrc4 . performed anYt31 procedures to identify any or unwcted rdation81ts tested journal entries to ithntify unusual transactsc assessed whether ILJgements and a$sL•)yS m%Je wi detenmng aCcoting est¥rHt£s wwe indicatNe of potwrti blas.. Investigated the radore behind SVdnrfKart or tr3Th%atho¥ arml In response to the risk of Irregar1e5 nc<cpkne laws and reEth1 we woceiknres vA)ith lrtluded, but were not Ikmked to: agreeing fina1 stateJnent di%lowre5 to dc(Lmentats. reading the minutes of meetings of those clllrged wtth govunance.. enquiring of rnanagnt as to and I"gatTr aThJ ck There are inherent IlmitatK)ns in cxjr audit pr{KedUr described alKN& The rrrf)re r¥)ved that kws and wulat¢ons are from financial transactlcr, the less Ikety rc is that we W(lId b2coff aware of ncn<rKnplYarKa standards also limit the audrt procedures required to identify n0rtrcory1Bn wth Laws and regu&tiors to enquiry of trusteL% and other marHgemert and tr Inspection ofregdatcry correspondew rfary. Matwat misstatements that arise due to frarjj (an Iwder to detKt than those that ar from error as they may invOe deliberate concealment or colusion. Py16
Glds, Edu(2Ion comp Llnyte Year Ended 31 W 2021 INDEPENDW AUDrrais' REPORT TO THE MEMBE OF THE GIRLY U)Uc4T[ CCMPANY LN FOR THE YE4R DED 31 AUG1 21 (coMllNU Use of our repxt This report is made soldy to the CharTtab corrpany'5 rrlErs, as a in accordarKe wth In accordance with Chapter 3 of Part 16 of the Companie5 Act 2CK)6. Our audrt work has tren urtrtaken $0 tlt we might state to chatitaEAe company's membe thoge matters we are required to state to them in an aLwJKor's rewt and for w other purtx)s& To the fullest extent permitted by law, we do mt accept or assume restxjrtslbility to anyone other thin the charitsE4e company and the charitsb company's mernbers as a body. for our audit for this reporL or for 0K)n5 we have forrned //fy• Robert Kirtland, Senlor Statutory Audr(or for and on behalf of Cdtchleys Aj(C LLP Statutory Auditors Boaver House 23 - 38 Hhe BrSe Street Oxford OX12EP. Date.. 7 April 2022 Page 17
The Glrw EduE3tlon Company Umlted For Year &Mled 31 AugAt 2W21 fund5 2020 £000 2021 DoMuon5 317 317 276 Sihool fees 24.462 24,462 23,825 Incune from other orthyt rradinE xtkntks IKome frorn InTrts Intere5l rEcwed 2,202 301 23 Otherincwe 295 756 26531 27,383 Costs of rois£ f. Tradw)g Trl}ÈS Fundrnising expenditure Investrnl man4emtrt costs 435 166 27 628 262 27 574 547 27 ExPendKUrt on ch6Yitth mitie5 School expendthre 24.233 24233 21,643 24.780 24 07 21271 599 5,112 Net on kwestmonts 171 241 Net Incomè belore tranrfors 1296 3,702 5,353 Trdnsfers beN%w fuThJs 10 Net rnrp48rnert In fun& 1.476 3,702 5,353 ReoJnclI0n of lund rotal fuTrJs brou*i forvdrd 51519 11A15 63.134 57.781 Totsl fvnd5 (¥rted forwd 5Z995 13J41 66M36 63,134 The strternent of financial actwibe5 nckndps all 8th5 kJsse5 recoglsed in the yw. The net irKoTne ol the SchcK)I ILYthe yEar5 Cl153IXX) (20211 £4.980.(xy. All activitse5 ree to ((rtinn% Operdti0. The notes on pa8e5 21 to 33 forni part oFthese x£c¥Jits PaBe 18
The Glrfs, EducatTon Company Umlled Con5011dated and Chartty Ban Sheets A8 at 31 Au8USt 2021 Wstered ber. 47031 School 2021 2021 2020 2020 £0 Tanglble assets Irw2stments 47J)95 46518 12239 47,093 3,098 4&515 4,331 12 59.635 58,757 50,191 50,846 Stocks Debtors Cash at bank aThJ In hand 141 1,197 17,147 140 691 13.671 26 1089 16,124 26 2.610 11,557 13 1&485 14502 18239 14.193 Credltors. amwnts fallkng due wthin cx* year 14 6.361 6,308 1Q713 8.141 10514 7B85 Total Sets less currert Iwtdes 66.898 60.70S 58.731 Credli0 amoLmts f1kng due after ThK)re than 15 (3512) {3,764) PS12) 13,764) Penslon stheme (DeficWry4L 21 Net a51ets 17 6Q836 63,134 57,193 54,967 Chty Fund5 Called up share caplt Restriaed funds Unrestrlted ftjnds Fb¢ed Assets Estates Development Fund Free Reserves 16 18 18 13041 11,615 47P95 3.900 46,518 47,093 4&518 S¢))1 63,134 5.001 Totsl furKIs 66036 57.193 54,967 The finartcAI Statents were approved and fc¢- issue by the Cojncil and on theSr behalf by. P Warren Chairman Datv. Iq 2012 The notes on pages 21 to 33 form part dthe5e accounts. Page 19
The Glrls, Educthn Company Umlted Consolkjated Statemert of Cash Fk Fortheyear Ended 31 W 221 2020 Net cash generated from operating activi 19 4.156 6,665 lnvcstrrt income receipts Purchase of tanglble fL¥ed assets Recelpts from sale of tsnglb fixed assets tJ'sFM)sal Iwrchasul of investments 313 324 (338) 65 79 I77 (610) Net cash (tyed In In¥estkng (28) Cuh flov from flnandn8 act Net payments ou( ol ComposiOn Fee Fund InvestnRnt managernent charges Other re¢dpts (483) (2n (7891 (27) 42 Net uxd In a¢t f7741 CtrAroe kn cath ash Nlert$ kn the > 1476 5,863 Cash and cash egufvaltnts br¢Wt fcxw¥d 1¥n 7,808 Cuh ard equ 20 17.147 13,671
The Glrls, Edtntlon Conwy Unted
Notes to the Accounts
For the Year Ended 31 Aut 2(r21
1 k¢ounUng poldes
1.1 Basts of wepara
The financL4 statements been Wep4 ¥i acccdw Accwnt aTh4 Reportlig by Charitles.. Staternent ol
Recornrnended Practice applnNe thrit1&5 wepari thdr accMts In IOrdat with the nloa1 RepOrri Sdd
apFlcabk In the UK a1 RePLC of IreL4rxl (FPS 1021 {efferttst 1 Jarnwy 201 - (Chthues SORP IFRS 1021), the FknarfUIl
RnE Stsndard aPFdaL4e In the arnj Rwilc of Irekny (FRS 102) and the Cowmes Act 20C6. The Gir15' Educafjon
Company brnrted rneets the of a pub¥c brt lIty LThler FRS 101 Assets and IHblities nltkiy reCOlSed ai
IMstMtsl cost or transa va othtrwi stated In Telnt xcrxjntkng rnlcy rntel51.
The sc01 k a Pubk berrt Entity rstered as a In Elj and we5 a COTpany 15mFted ty -Trtee
(company 47037 and 31W.
12 lesentstkn
In order to presert a and falr th. CLymp•rry has not the strtt of the Comwie5 Art 2QJ6
regardkng the format ol the profil k>ss acc<[ I1 hès sthtituted m¢)re nwyful headkn85 In pLace ol tk¥)5e
prescrfbed. A recolIatIon of sharehoklers, Pos Thx Yo¥ed a In the ($¥0n of Councl such a Statement 15 nDt
apprwato to the conv$
The finan $ernts are kn sterlrg Ythth of the thty. Monetary amwnts In these
statements are rowded to the £L.
These accoLmts ¢Dnsoldate the accr5 of the Ccmprty. Its subldkrfes Wytombt Abbty Sèrv7ces Llmthd.
Wycone Abbey [)bpments UrThted Wythrft AW Unlwt, aThd the rdated charitie5, Wyceffjbe Abbey
School FWndIQTh and wyCcm AbY Hong Ke FoLNlatiorn A sub5tdory was fonTEd In 1999 named Wycombe Albv
Penslon Trustees LtrnKed Ythlth ts not c¢MokJ#trd as k has net assets of L1. wNch wo1 be dlmlnated on ccn5oldat+ory IL
acts as a trurtee for the Cojywy In resFea of btnefits for eftwoyees. Ag pemitretj by sethon 408 of the
Cornpan1¢5'kt 2CQ6 ry> Ststerrf of Firw?l AdNltle$1s prwted fef tht ttty.
1.4 Fund Kcou
Generl fwds are unre5trfaed fuThJ5 whkh are.alat fx u at tts cJ5ryrfkin of the Trustees Ki fijrthtr3 ofthe ¥eal
oblecti¥es ofthe Charlty bthlch hast t toen de¥ted fc other tXWPOses.
Restricted are Funds wlith ¥e to be used li XC0rda speafic restptllons Imposed by thnor5 or whlch have
raised by the CPArty for partKLrfar PUrpx The costs ol raIn8 and athkni5tering such fijnds are charged agal¢w the
fd. The alm and use ol each rertrf(Xed f4 15 set out h ihe TrJte5 to the fin¥Kial Statements.
Donatlons recefved for the gerr purposes (rf Ch¥itab CtYryW¢Y a Inchjded as 'Lmrestricted fund5'. DOnaon5 for
actfvides restrScied ty the wishes of the are tsken to fiJid< bthere t1%5e 5hS are bindin8 on the
Councll menikn. De5iwated fLnth Conse unrtstrKiee fuThJs that have be&i set 35kJe by thè Council lor a p3rUcLAar
PWP05e. Dowlw5 rerylred to be r¢raW a5 Ca[ In athn vAth the ¢knoes tI are aUnted for ag
endONwnrS'. permaneTht er tendab accordkw * the nature of the restrfttK)n.
Donated woftsSKjn seNces and ted fth ¥e recoN5ed as when h35 over tkK it. any
Co10r6 assated wbth the drted item teen mel the recey of economic benefrt from the use by the charity of
the Is protrAble that eCOrn t (w) be relly. h) accordance th the charitle5 SORP IFR51021,
genepal vOlteer tirne Is not recowised. th) recdFL donated professbnal wvtes and dcnated fadlffj recolSed on
the bas15 of the v3kJe d the pft to the 15 the rnnt thE rhrty wouky ha¥e been V
The Glrw Educatk)n Comwy Um]tul
Notss ts the Accounts (condnued)
Forthe Year Ended 31 Aupt 2021
1 Accounvry (corttnud)
1.7 Governmertyants
GThmment are reCOlSed at the firth ofthe a55et rej or reCwwdb thwe ts reasonable a$snCe that
the w condwns be the rn wl be re(eAfdA that speafie5 [oe condthns 15 recognsed in
Income when rfOrr[1are Cond0 are nRL a grdni tJes ncx 5peofy wfornan cor.ditj0r r( 15 recOgned
incorTE Wh th2 pfLKeeds are rec8 A Trnt ts recewed the reCov(l crirero are satisfied 15
reco%n15ed a5 a INIty.
1A èyndKure
Expendire is rwdsed On tre ts a obbgation to transfer e£0m berth to a thlrd paty. it 15
prc&ble that a trants of econorThc tonats wil be requed in setdement th2 amcyjnt of the &4wtion can be
rrAsured rellab.
Fundrriskng costs are tkne rwred in seekin8 Nrbjntary ccffitrlykn do not inthde th2 Costs of disseffiryAting
InlorrrAtion in of the thyitable actsle% G¢rn costs are those incwred kn ccmethn vAth adrnini5tr3tion of
the Charity and complAn wth cortstitiJtyd and statutory reaKnen
Costs of generatire funds are costs fLcwred attr&tiE sY)bJnW and those Irxurred In tradirg actiwtie5 that rrise
funds.
charitab athe5 crna costs are tosts on Sd¥$ e(0 owatvJn& irtluthn8 YJPPOrt costs
artd costs rdatine n the )narKe ofthe tharity ar¢orrifftd to tharitab actmti
1.9 Opuayng le3585
Rents15 parble are charged to tk stater[t of attimtrs w the terrn of knse crt a straw li basls.
1.10 Tar¢ Il& awts depre¢ktk>n
AJI assets costing more than £1.000 are Capital Ta assets are carrth at co< net of depwaticm and ary
pThsiw for impainrwt CtprecotK)n 15 pro¥%ded at rates ukukted to wite off cost ol fNed a55et& kss their estimated
reydul vakJ< over th•"r extttta useful hes tre f
The Gir15' Education Compary rnited Notes to the Accounts (condnued) Forthe Year Ended 31 Augwst 2021 1 Accounlng poleS (contknued) 1.16 Athan fees stherne The School offers parents the to pay for up to sw years, tull[ fees in atharKo The am¢xJKs received are invested in the Compogtion Fees FLThY fCFP) m&ntahied ,e S(tr and annual arrK)unts are accr1 and added to the capt. Tlis Is treated dderred inctThe untl the txryjil icxrs the Sc whe( fees fcr each school term Arp rFkHrk1 a%Tain¢ thp. rp.mainirv ha14nrp. and tskpn ta inrtxrr_ 1.17 Pon$ The Charity pays defin&l pertsl(th Cont bdulf of members of the teacNrg staff th are in the Teathers, Superannuation kheme opuatvJ by Teacrw5 Age. Th contTthution5 are defined by the Agenry ar)d are thared &5 an extsense to the Statement d F1rWiry Acrt5 as fv lau due for Davrwt The Charity also operates a Defined C¢)ntrItXAr Penyorb Sdme for tea staff. ContJibutions to the Sde are ch]rged to the Statemert of FlrorKsal ActMtie5 as ty fal ¢J The s(.001 a150 contributes to a defined benefits schem¢ the Wycombe Abbey 1966 PensK)n kherr¢ at rats set by the Scheme ACtry and advtsed to C(AllKiI by the SduTE AdrtMni5trdtor. UtKJer FRS 101 aluwal calculated notional surplus or dekit on fvnithrtg of tr,e Sthfft is accounts as a desEnated fuThJ entided Pensions Reserve., whKh is deducted fr(Yn Unrestricted FWYJS in the bae 5heeL Cowl beIVe5 that the sthEme currently mts ststutory minimum fundirg requlrerrnts . Ccu)ol no that cakllated rKJuonal deficit or surplus calculated un¢*r FRS 102 can vary 8aty frc¥m year to year deFEndin¥ on the aSyJnptits made at the vabjation dat4 but th rK)rmal littie or no effett on slK)rt term Page 23
The Glrw Eduouon C(xnparf/ ljnlted Note5 tv th? Accounts {connUed) Forthe Year Ended 31 AuRust 2021 Income from dOnaon5 and Totol fvnds 2020 fvnts fijnds 2021 Donatknn5 317 317 276 In 2020. of the t¢X Income from ¢*Jrnatk)rfj arKI £Thl was to urYestrl fd$ and £276,CW w to re5trftted f(md% 3 knEome from cFArknbl• actmtles Toral funds 2020 £000 fun& 2021 fvnd5 2021 nds 2021 ioc Gross fee IncoTh Les& bursarie5 and schoLirships 23,750 017) 23,750 (1KI17) 23,356 (1,074) 21733 22,TJ3 22,282 Fee5 lor extra 5ublert5 1547 1547 1,338 WstratSon fees aThJ InwrarKe 182 182 205 23.825 In 2020, 01 the torèl Income frorn tharrtae 123B25,C(O VAS to reStrted fuThJs £nll was to restrkted fvnds. 4 Incorne from other tradlnl aCleS Teral fvnds 2020 £000 funds 2021 2021 2021 Lkence lee5 re¢thae fef overseas stA$ Sales of goods and se(e5 Rcnt and use of school faclvtks 1.863 242 97 191 83 191 83 2,202 In 202Q. ofthe total Inco frcm other trathg athtts £U02£rf11 wa5 to Uye5 fi5 and thl was to re5trfrted fund5. 5 Other Income Uwestrtcted fuTh Totol fvnds fijnds 2021 £000 2020 Re(eipts from the Corothruslob Reten Other 219 76 295 219 76 295 657 99 756 In 2020, of totl other ncorne frcffl other tra&irg actft#iW £75&CXK) was to mStrict8J fimds £nil w to restricted fund5. Page 24
The Glrf< Educatlon C¢mpyUnLlal Note5to the Accounts Icondnuw4 ForthB YtsrEnded 31 W 3lll1 2020 Costs of raWngfiv 285 262 27 435 166 27 $S Upende 146 116 146 428 S74 628 re¥h8 We Prem FinarKe cost5 Suppjrt costs Settlernent co 9.4 10,974 5278 S,134 10515 4J49 3219 1616 1.481 167 605 in8 1429 18 jo 11457 7,747 24233 21.643 11603 &175 14A07 22,271 In ?021 dthe tot41 exFeNkn. 114.rn.(KK>vrn5 expwowre frpm Lwre5trKted £27.IXOvr45 frarn r£strKted fvnd TrJsth IAblrty indkkd kn xw¢rtC95ts 14597 (202fr. (4.4221. Tot fvnd Towl ru 2020 2Y Audtor5' rernuneraDLn- aAKseThKe5 29 29 30 2021 2020 £000 11*51 1208 1.744 10.922 1.037 1.096 5ecurtty CDSts PensDn 6Q3 13.055 Pw25
The Gld< Educathn ComFqny Umlt&l Notss to the Accourts (cornued) For the Year Ended 31 Aut 2021 The aswage of Perso emtw by the a>rity year as fdlo 2020 No. Teachkng stsff AdniC WFF¢x¢ Admini%tratKM) 112 112 113 43 36 70 30 45 54 Pastor Domestics Estates 35 410 The number of emFtyes earrirg w £ÉQIKKJ wa 2020 In the £60,CQ1 £70.IXM) In the £70,1 £80,W) In the bard £80,W1 £90.IIQQ In thè £90,001 £IOO,IXO In the baThl £140£(J1 £150.(XK) In the barwJ £180.C()1- £190.ry 19 2021 2020 £coo 1.222 Aete employee reMurallOn c4 key ManagUYt pw$n Nun*er of emF4oyee5 1J67 11 During thÈ year, no Memben of Counal recewèj arry remur£rntion (2020.. thio. Dudng the year, no tsf C(xJnol receNed any ivrfrts knrKJ (2020.. £niO. Dudng the year. Members Ofcal reKnLxJr5nert of £1.285 fcf expenses P020.. £188). During the year there were terminatKsn payMts totalKng £127.OLK) (2020..£niD. After insurance recoverie% the cost to the Chan'ty reth to £93.500. 10 Transfers betswe Funds fuTrJs fvnd5 2021 Transfer from PrSze Fth Donatv)ns transfed to DPrAt Fu1 Transfer for Samba te5brvd nthine Transfer frorn WA Fbng Kcrg FouThJatK Trdn5fer to Boarding Houses 8Lrsaries funded frorn Wycombe Abbe/ Four (751 (13) 38 49 75 13 (38) (491 {1) 11801 Page 26
ForthYrr&dEd 31 WX11 Mry G TO eqw Cort At I 2020 AddOr(S 55262 &783 518 64.551 14 64.575 1.270 At 31 4jpJA2l 67,151 67,175 At l 2010 ltyrtY IZ342 1.125 1716 610 J535 18D36 1030 21 I57 1031 At31 W2021 11467 20n51 Ntt b¢4k At )1 2021 197 13S 471593 47 At31 W2020 453 135 46 46 FrcthDkY andbJl¢ Tu•tkn trrfAC From C4 1961 Cost Ltss toth 757 S4M3 757 54h33 cortoffraknld kndd 55262 5x162 AlthtwopervdQthertrry aifets¢MYdtythe Ctyrp¥Y¥•j FwdthE The m¥k¢t va1uovftrR freEW W45 ththe hthe htyatsW.In th a$•N(+ r Pjr ¥¢ P4e17
The Gfrv Edu¢21ton Comwty LInted Fortheyw Ended 31 Augwt 1 12 Sthr 2020 ÉULX) 2020 At 1 September 2020 Adtk'tK)ns at co# 11,9J9 79 4.331 343 (1047) 471 4,354 81 Mfftment In (rwk&vafue 241 104 At3121 IZ239 4.331 Gr¢x khoo4 21Y21 2020 2020 CazwthE Ckortty MU. Asset COIF Ch3rty Gbb4 Ewty Fund COIF FIM Rathik)nes UrrtTrust. Core Irhst Fund (Jkr Z1( 1.9)7 1699 2,108 1613 221 ard 2020 Relaj profri ror the year after Oft ald Charity Tot Wyctrnbe PbLVSes knmitoj Wyctsnbe Abtey Dtstlcpmwts Umitgj 2020 Totd brt fophvd Net In ftsnd5 Total carrth forward 7,744 353 ao97 1569 2021 2020 Wycombe Atty Htsng Kor¥ Total funds br forward Net mOV¥TEfTt in fwKJ5 Tc¢al funds carrfa fcrnrd 49 50 50 Abbey See5 Thes&d5dKNJ UrYfcrrsd ots itursto parwts the knbngdproFrty ar¥J use s(kKKsfs kn11. Wycoth Abbey De¥e10 PThidYE bLthE sees to sc01 prem. befft5 from the 1966 Per6k)n sChe for Tr)Trtexhkng #aff (see Trxe 211. orra)eAbiy School Fdlic.' A ld cPvitytrot dCador fcr &J1s3s2nd toward5 tt funding of Bursaries in Wombe Aey S&KoL prq%ts In Wymmbe Abbey SoknL
Thè Girt5' Educatton Compary Urted Ntxes to the ACCnts {COnnU Forthe Year Enthd 31 2021 13 DeEkn ho 2020 2020 Trdde dd)tors Amwnts owed by Su¢SarieS Othtr debtors Prep3yrnents 831 282 759 271 1,933 314 92 43 317 92 43 323 691 14 Cttdkorx Arnounts f111 Ikn ¢it > Grajp 21Y21 School 2021 2020 202Q Fees in advance Amounts owed to 5ubsidwies Ccfnposthn fee [d Fee deptssits hekj atdlnst final 1 Trade creditors Other ta¥atn and scKlal securty Other credthrs cru$ aryl deferrEd NKCffn¢ 1620 2,380 2J80 35 566 379 433 266 1,803 386 377 566 379 443 271 1.919 403 371 566 1,127 1,129 318 1241 521 20 507 6.361 6.308 Scho 2021 2021 2020 2020 loo 2,898 866 Fee deposits held 4thst b15 cPOon Fee Fund 1940 sn 2,898 866 1940 12 3,764 12 3.764 Fee5 FuThk Group and Scho 2tr21 2020 Arg pu rnan in the Sthool, aknce fees 5511 be aPpld as folkTh Due witNn one year Wtthin one to tsvo years Within two to fve yws After flve year5 377 214 2S1 107 566 508 227 949 1.43 I he School has an b3nknrE lacllity ot Lil milth We Lkn> IS&* Sl Augusi 2023. Th1% faclty secured ynst a tkbenture Page 29
Note5totho Cnts Irontkntse4 ftrfth¢Yw Wed 31 W 2021 16 2Q20 tted, 12 121 WadU Tth T¢ SJn& 21 1020 loco 47JJ95 47JJ95 46J18 IU39 74302 115 yrrert CrEdh4r50x ¥hr or• 17.184 (7,7n) P512) 18.485 (7,7n) P511J 13.7611 2019 Tt4e 41518 624 46511 11239 14502 IA3611 P.74 4&229 1115 &954 16J611 (176f 11,0301 51 19 63.134 18 lThl(QLI dhJry y(Fnd Sjrrf 21 Sl.519 995 hr xyC•t4'A F 156 75 674 350 17 63 456 1CQ Vtrdint Fumd ba testiy S(1 14 117 626 Totsjwftsrkwand r•51dthd 61114 2&531 1.978 roart 31 t0fv%&tILrtl0dtr .YLI . 10 toth?E Pth Iwds d? nt Boardkn h55 khwl reStrEtdUla1K?5 the bu ruL.r& d2rAb4i lo" forte MarKtsruL Vtrdart &Ysary Fu machi Furwj rÈ5TrtCEedthtAkn bi*S.
Erknj 31 W2021
2020
Éooo
&112
1.974
P24?
1803)
789
Irrlmer¢ i•Me
C)etrease in Comwttion Fees
o)
3DI
95
Incr4 ItkcrE4sel
The Grkl EducAon Conyry ilmttttt Notes tothe Atttyjnts Iconln FOT the Ye3r Ended 31 W 2021 21 Per&kn ctsmrthnts (tenurrtts A ILljti 1966 Srhene fobkn rfc(rnEda5 at 31 2021 wth Rgxyti Stsrd¥c 101 The FRS 102 b2kncÈ sheet 31 GUtt 2021 a sufv in the Solwre of £475.OC 1202(Tr. £143.OCK)i. At31 At37 2020 Dtscount re Retsil (e Infiatkjn IRFYI Cor6LhMer ttIntion ICFI) Pensth Irre35e5- RPI maxJrNm Deferred pen51on {CF15% rap) i.o% 3.1% 3.4% 23% 32% 4% The a55umed Ille expectatth At31 A131 2021 203 21.3 2020 2a2 21.3 22.2 23.4 For a aged 6S rth¥ A¢ 65 for a aged 45 nth¥ For a lernale aKed 65 rth¥ At 65 a fvnak aged 45 r 235 31 At31 Awr 202Q 2021 81% 1,772 259 81% P¥)nd5 erpyeS C¥h 218 36 1% Z456 2,179 At31 At31 Netéefinedbenefit omee Fair value ofkheTr asts Vlue of [Je ¢bl8a SLrpk 2021 1456 1,981 47S 2020 1,179 2030 143 h Ilne with wdzraph 2822 ofFPS 102 the net aSh1% been re5trt&J the basls ofr+e5 over the fLtre reefftry td5 U5et The net pensb2n reco8 on the bakne shttt ts therefore (X)Kk ). 2020 Net Irerest expKe Past Sl(e c05f ser rettrn hss iterest 1C¥m rttOOMSEd in P ExpenerKe &aln5 on baieft obhgair¢ns Èffect of*sUMpd Llanges en benefrt ow( Restrickn ofas8et Total in 2020 £000 Opthng defined cblgat Intere5l (051 ActWi31 Ic5ses1 (YGI Pa5l SerE oosi 1036 32 35 (171 198 1036 CkJ5fy defined befteft¢btsgatM Page32
The &rW Ed4tcaVon Cornpy Umlt Notss to the knunts (contjnued) Forthe Yw Ended 31 W 2021 21 PaL%bn (COAU) Arsir of the in the c(5dh 055ets 2020 Op&lng fatr YUe ofSC a55ets Interest WKome uarial (lossesll gak)s ContributK)ns Benefft5 pald Cbyng r¥aje of Sd)ane assets 1179 2,373 339 (136) 98 2,179 1456 The asset gah5 are the attual zsset retwn overth2 yw oF£339,COI (20Tr. £l36.ts losses) Pl the knterest kncome of, 134,0(M) (20.. less £40,000 The £m0Yer math c¢ntri¥rtions for th dld p)n s¢trth)e kn the year to 31 Auwst 2021 as thsed ty the AcLuary1202& £ryN Htsw I( The folkyAng percent38es show the acttmthl gall00$$) Colwnpts as a P of t end ofytar asset or Ilabilty. a% approprkte for th¢ requkents of FRSIOZ 2021 339 14% 2029 J36 0% Dfftrence btheen the actL41 and eypetted retlm on assets (£O)Ys) As % of srne assets EXperIen rdInO$sesI obWKJns (ICOYS) As % of l£aOn9 1.3% 0.4% T¢xal amouni rec1 A) swement cl fThnd31 {£CQYs) 3 % of culgatlons 0% There w95 1 Men*er OfcnCl v4tK) h¥J cFddren at knx4 ¢Jwrothe year vthkh they were ckrged In Ine ¥h nomHI Sthool tharges and feÉs Q02CF. 21 Member5 of CJnC4 m3de donatk)n5 of 1 thè year (202Q thlg. 23 Caplw corrffiltrnerts The Sthool has authori5ed caprul eygethxe of £278,¢MI1202O. CnH). Page 33