ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
REGISTERED CHARITY NO.. 311945

ROYALALEXANDRA AND ALBERT SCHOOL
CONTENTS
Pagelsl
Report of the Trustees
2-18
Independent Auditors, Report
19-23
Consolidated Statement of Financial Activities
24-25
Balance Sheet
26
Consolidated Cash Flow Statement
27
Notes to the Financial Statements
28-52
Reference and Administrative Details
53-57

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
The Board of Management presents its annual report and the consolidated audited financial
statements for the year ended 31 August 2021 and confirms they comply with the requirements of
the Royal Alexandra and Albert School Act 1949, the Charities Act 2011, and United Kingdom Generallv
Accepted Accounting Practice comprising FRS 102 and the Charities SORP 2015 IFRS 1021. In preparing
these financial statements the Trustees confirm that they have had regard to the Charity Commission
guidance on public benefit in the Charities Act 2011.
The reference and administrative details set out on pages 53 to 57 form part of this report.
CHAIRMAN'S STATEMENT
Foundationers
As is well known, the object of the Foundation is to support those children who are without one or
both parents orwhose special circumstances mean that they would otherwise benefit from a boarding
education and to bring them up according to protestant principles. Currently there are 97
Foundationers on the School Roll and the Foundation continues to work with other charities to
increase the number of pupils that it can support at the School. The Board considers, however, that
such numbers should be limited such that supported pupils have as normal a school experience as
possible and are able to fit in seamlessly with other pupils at the school and that there is no perception
by such other pupils that the school is anything other than a normal state boarding school. Thus
although separate records are kept of the performance of the Foundationer cohort they are treated
as any other member of the school. Any perception that the behaviour or attainment of Foundationer
pupils is in any way inferior has been proved to be false. In the last academic year Foundationer
attainment at GCSE and A level was in effect one grade higher than that which could have been
expected nationally for disadvantaged Children, thus providing tangible evidence for the impact of the
work of the Foundation.
COVID 19
The continuance of the pandemic resulted in the School being closed for most of the Spring Term. This
resulted in a loss to the Foundation of some £1.3 million in boarding charges and a curtailment of the
Co-curricular offer and the ability of Flexi-boarders to take up their entitlement to stay overnight at
the School. Foundation staff continued to be placed under strain by the modified operating mechanics
necessitated by Covid and I would like to pay tribute to their fortitude during this period. Covid
remains an issue in the current academic year and it is far from clear whether the results of the
Foundation will be adversely affected this year.
Finances
The Foundation recorded a surplus of £1,033,516 for the year ended 31" August 2021. Whilst this
compares very favourably with the deficit of £986,396 in the previous financial year, some £1.7 million
of this amount is attributable to unrealised gains in the investment portfolio following the general
improved performed in world stock markets.

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
Ground Source Heat Pum
Pro
ect
The project is now largely complete and was finished on time and within budEet. Some teething
problems inevitably remain but it is anticipated that these will soon be iesolved.
Gloucester House
We had planned to undertake a refurbishment of Gloucester House over the Summer. It soon became
clear that a shortage of building materials would have risked the project not being complete by the
Start of the current academic year. Accordingly the decision was taken to postpone the project until
this year when it is hoped that supply problems will have been resolved.
Swimmin
Pool
The swimminE pool was effectively closed for last year, mainly as a consequence of Covid, but also
because its plant had become obsolete and was incompatible with the Ground Source Heat Pump
Project. Accordingly the opportunity was taken to refurbish the pool which reopened at the beginning
of the Autumn term
Mark Dixon
Mark Dixon left the employment of the Foundation as of 30 April 2021 and Mrs Rea Mitchell assumed
the role of Acting Head for the rest of the academic year. Henceforward it has been agreed that the
headteacher of the School will no longer be employed by the Foundation but that the School should
assume full responsibility for their employment. Pending the appointment of a new head an
arrangement has been entered into with South East Surrey Schools Education Trust to provide an
interim executive headteacher (David Blow) and an interim headteacher ljames Malleyl to run the
school until a new head can take up office. I should like to commend both David and james for the
manner in which they have embraced the affairs of the Foundation and particularly their recent work
with supporting charities.
Foundation stsff
During the year James Taylor was appointed as Estates Bursar and the Foundation has already
benefitted from his considerable expertise. At the end of the Academic Year Peter Dawson retired as
Bursar and Foundation Secretary and was replaced by Liz Lowe. I would like to thank Peter for his
contribution over the last few years, in particular for masterminding the Gatton Hall refurbishment,
the Ground Source Heat Pump Project and the Rank Weston refurbishment. l am delighted to say
that we have not lost the services of Peter altogether as he has kindly agreed to stay on as
Foundation Director on a temporary basis to supervise those affairs of the Foundation that were
formerly line-managed by the Head.

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
Christina Foord
Christina indicated to me a while ago that she would like to step down from the Board of
Management and following the appointment of David Blow and James Malley referred to earlier,
durinE which Christina played a most helpful role, she tendered her resignation. I would like to thank
her for all the advice that she has given whilst on the Board.
Governance Review
During the year the Board and the Governing Body of the School commissioned National
Governance AssOCl3tion to undertake a governance review of the Foundation, the Governing Body
of the School and their interrelationship. The review concluded that there needed to be more
separation between the affairs of the Foundation and the Governing Body of the School with the
Foundation focusing more on its charitable objectives and the Governing Body of the School
assuming more apparent responsibility for the running of the School. It found that the roles of the
Board and the Governing Body had become confused with the Board being perceived arguably to
interfere too much in affairs which were properly the preserve of the Governing Body. Work is
currently underway to consider NGA'S recommendations and to refocus both the Board and the
Governing Body. At the same time there will be a detailed consideration of the Charity Governance
Code with a view to bringing the operations of the Foundation more into line with the operations of
a modern charity.
David Frank
Chairman
7 December 2021

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
BACKGROUND
The Royal Alexandra and Albert School was founded in 1758 and re-incorporated as an educational
charity in 1949 under the Royal Alexandra and Albert School Act112 & 13 Geo 6 c.xviiil "the 1949 Act"
and amendments thereto. Throughout this report the charity is referred to as "the Foundation" the
name by which it is commonly known.
The 1949 Act amalgamated the then Royal Alexandra School and Royal Albert School, made provisions
for the amalgamation of the property and funds of the two schools, incorporated a management
structure, arbd defined the objects of the new school. The main objects, laid down by the Act, are=
To establish and maintain a boarding school for boys and girls who are without one or both
parents or whose special circumstances make it desirable that they should go to a boarding
school.
To bring up the boys and girls in the school upon Protestant principles and to have them
educated under arrangements provided by the statutory education authority.
The arrangements since the original incorporation evolved over the decades such that the Foundation
funds the boarding facilities and pastoral care with the education being provided by the Voluntary
Aided School, Royal Alexandra and Albert School I'the School"), a state funded maintained school.
The Foundation owns the land and buildings in which the School is located and appoints the majority
of the School's governors. The Foundation's Board of Management has delegated the day to day
management of boarding to the School's Governing Body.
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
The core purpose of the Foundation is to accommodate and educate 'Foundationers" These are
pupils who would benefit from a boarding education and whose parents or guardians are unable to
afford such boarding charges. Generally, Foundationers have lost one or both parents, have a
chronically ill parent, have been abandoned or abused or the parent can no longer meet their daily
needs. Approximately IO% of the available boarding places are reserved for Foundationers.
Bursaries are given to fund or part fund boarding charges for Foundationers. All awards are means
tested and range from full costs to more modest amounts, depending upon the circumstances of the
child. Most of the Foundation's awards are made in conjunction with other trusts and benevolent
funds,. we are grateful for the continuing support of many institutions, in particular.. BMTA Trust,
Buttle Trust, Emmott Foundation, Reedham Trust, Royal National Children's SpringBoard Foundation,
Royal Pinner School Foundation, St Marylebone Educational Foundation, Thornton-smith and Plevins
Trusts and Anonymous Donors. A number of pupils, boarding charges are also funded wholly or partly
by Local Education Authorities.
The Foundation aims to provide the School with an environment in which all its pupils, including the
Foundationers, will achieve their full academic, social and spiritual potential in order to become valued
members of society. In order to achieve this, the Foundation seeks to ensure the provision of first-
class educational facilities, high quality boarding accommodation and an excellent range of co-
curricular activities.

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
OBJEcfivES AND AcfiviTIES FOR THE PUBLIC BENEFIT Icontlnuedl
Boarding fees are charged in respect of the provision and use of boarding accommodation, pastoral
care, food and co-curricular programme. The termly boarding charges for the last two years were..
Academic year 2020121
Academic year 2019120
Boarding
Flexi boardir)g- secondary
Flexi boarding-junior
5,250
1,980
1,450
5,250
1,980
1,450
Grants are provided to the School by the Foundation. Such grants are paid from unrestricted
donations, investment income or property income. The annual grant is paid primarily to enable the
School to have smaller classes, to provide additional support to Foundationers and for occasional
special projects.
The Foundation and School are situated in the heart of an historic landscape created by 'Capability'
Brown. The Foundation has established a subsidiary charity to be responsible for the restoration and
conservation of the historic parkland in which it is located both for the benefit of the general public
and for the advancement of education including that of pupils at the School.
The key elements of the Foundation's strategy for the current financial year were..
to continue to increase the number of Foundationers
to continue the programme of capital investment to improve the educational facilities and
boarding accommodation
to continue to provide grant finance to the School to provide smaller classes and improved
educational facilities to benefit the Foundationers and other pupils
to support the School in order that it can continue to..
provide a broad and evolving curriculum and co-curriculum for the benefit and
development of all pupils
achieve positive value added
o work towards expanding the Sixth Form to 250 pupils with 125 in each of Years 12 and
13, including some 125 boarders
be a Christian caring community respecting all religious values and none
to continue the improvements to the parkland and to extend access to our pupils and to
visitors to the park for both educational and leisure purposes
to fundraise both to support Foundationers and to fund capital projects
to recruit suitable new members to the Board of Management and Governing Bodv

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
OBJEcfivES AND AcfiviTIES FOR THE PUBLIC BENEFIT Icontlnuedl
The Foundation measures the success of its strategy through..
the number of Foundationers being supported
the number of pupils attending the School (both boarders and flexi boarders)
the Foundationer results achieved with particular emphasis being given to the value added
achieved rather than the absolute results
the number of Foundationers leaving for an appropriate career or tertiary education
funds raised both to support Foundationers and for capital projects
the number of visitors to the park
the number of volunteer hours
the Board of Management and Governing Body attracting people of a wide and appropriate
range of skills and experience
The performance against these measures is commented on throughout this report.
A REVIEW OF OUR ACHIEVEMENTS AND PERFORMANCE
Those who benefited from the Charity's work were..
106 pupils and their families supported by the Foundation, other charities and Local
Authorities (September 2019.. 901
136 Ministry of Defence funded boarders (September 2019.. 1371
other pupils attending the school, including a growing Sixth Form of 206 pupils Iseptember
2019= 1931
visitors to the historic buildings and parkland
school children from other schools who visit the parkland for educational and other purposes
the local community who visit the grounds
community groups who use the school facilities
our volunteers
BURSARIES
At the beginning of the academic year, 100 (September 2019: 901 pupils were supported by the
Foundation, other charities and local authorities. At September 2020. the Foundation supported 67
(September 2019.. 591 boarding pupils with bursaries and continued workinE Wlth the Heads of local
primary schools in Merstham (the third most deprived ward in Surreyl to identify pupils who would
benefit from flexi-boarding. As at September 2020, 33 (September 2019.. 311 such pupils were being
supported.
In addition to the bursaries granted, the Headmaster remits boarding charges in cases of occasional
hardship. At September 2020, 7 pupils (September 2019: 211 benefited from Headmaster remissions.
The value of means tested bursaries and Headmaster remission in the year amounted to £772,804
12019120.. £642,0161 and represented 8.3%12019120: 7.5%) of gross fees. A number of pupils in
receipt of bursaries also received pocket money bursaries, uniform bursaries and assistance with both
UK and overseas school trips and the cost of music and riding lessons.

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
BURSARIES Icontlnued)
Starting this year, the school offers scholarships to full boarder pupils who are high achievers in music
and sport. Leadership scholarships have also been available to Sixth Form applicants since last year.
During the year, the school awarded 28 scholarships together worth a total of £32,01212019120.. 14
scholarships worth £19,013).
FOUNDATIONER EDUCATION
Completing a Sixth Form course during a pandemic is a challenge, but the hard work of students at
the Royal Alexandra and Albert School was rewarded this year. 83% of all A Levels taken by our KS5
Foundationers were graded A to B, and 100% were graded A to C. All of these pupils accepted a
place at university. One Foundationer achieved A. in four subjects and was awarded a scholarship to
study at Williams College, Massachusetts. One Foundationer did not take A Levels, but instead
achieved all passes on a blended academic and vocational pathway and chose to pursue an
apprenticeship.
84% of all GCSES taken by our K54 Foundationers were graded 4 or above, and 25% were graded 7 or
above. 79% of KS4 Foundationers passed all English, Maths and Science subjects with at least a grade
4, which is a fantastic achievement for disadvantaged pupils. All Foundationers stayed in higher
education, with 12 staying at our Sixth Form, 6 continuing at other colleges and l accepting a place at
the BRIT School, the UK'S leading Performing and Creative Arts school.
The key value-added measure in education is Progress 8 which seeks to measure the progress pupils
make from age 11 to 16 years of age. The national average is zero so a positive score highlights that
the school is adding above average value. The Government has not published Progress 8 data for the
past two years. However comparing the GCSE average point score between 2021 and 2019 SUEgests
our score is between +0.4 to +0.512019: +0.441.
The School prides itself on offerinE an inclusive all-round education with a curriculum that extends
beyond the classroom. The Foundation provides an extensive co-curricular programme forming part
of the everyday experience for pupils. Activities begin at 4pm and, dependent on the activity, can
finish anywhere between 5pm and 9pm. The range of activities on offer is wide, and designed to
appeal to pupils of all ages and tastes. The Foundation has Its own indoor swimming pool and riding
stables, as well as grass pitches, floodlit netball courts, astroturf pitch and sprints track.
Due to COVID-19 restrictions, pupils had a reduced co-curriculum proEramme this year with limits on
Eroup size and types of activity that could run safely. The programme was at its fullest in Summer 21,
and 59% of Foundationers attended at least one club173Yo excluding exam years 11 and 131. After the
year end, the School has returned to a full co-curricular programme. In Autumn 21, 85% of
Foundationers have attended at least one club.
In addition to the co-curricular programme, the Foundation pays for all Foundationers to go on
educational school trips, and on recreational trips up to a set limit each year. The Foundation will also
fund riding lessons or music lessons for pupils where it is considered beneficial to their all-round
education. During the year. the Foundation paid for 10 Foundationers to take riding lessons and for
28 Foundationers to take music lessons.

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
SCHOOL GRANT
The grant paid to the School in the year to 31 August 2021 amounted to £264,18312020.. £12,3261.
PROPERTY MAThERS AND BUILDING DEVELOPMENT
All property assets are held in the Foundation Fund. The Foundation Fund charEed a rental for the
year ended 31 August 2021 of £1,794,78112019120.. £1,791,199) to the Boarding Fund in respect of
the usage of the boarding estate. The rental charge is calculated on a basis of current market propertv
yields, and is accounted for as a transfer between funds.
GSHP Pro
ect
The Estates team have continued to be extremely busy this year completing the installation of a new
Ground and Water Source Heat Pump IGSHPI system. The new GSHP system is believed to be the
largest such project in the UK. By Spring Term, 11 out of the 13 planned plant rooms were fully
operational. The plant room for the main school went live in April 2021, and the final plant room for
the swimming pool in August 2021.
The Foundation has applied for Government backed financial incentives available through the
Renewable Heat Incentive IRHII for all of its plant rooms. Since March 2020, the government has
announced successive reductions in the benefits of the RHI scheme. The Foundation applied for tariff
guarantees in March 2020 meaning that all our project as identified above will be subject to the pre-
reduction rates. The expected RHI funding receivable over 20 years is £7.3m.
The GSHP Project is being funded by a 20-year green energy loan facility from Lloyds Bank which will
be repaid from fuel savings, together with RHI funding. Further details of the loan facilities are given
in note 15 to the financial statements. Within 20 years the project is expected to have saved 15 million
litres of heating oil.
Boardin
House Refvrbishment
A full refurbishment of Gloucester House was planned for Summer 2021. However due to
unprecedented industry-wide material shortages and inflated costs, the works had to be significantly
scaled back. Works were limited to the areas of greatest need, being staff flats and external works,
and the replacement of some furniture. The Foundation aims to complete a full refurbishment of
Gloucester House by the end of next year.
Swimmin
Pool
The pool has been out of commission for most of the year, initially closed due to a failed heat
exchanger. The Foundation decided on examination of the aging pool plant to replace some of the
equipment with better technology and to also refurbish the overall look of the pool building. The most
significant element of the project has been the installation of a new air handling system which is a
more energy efficient air recycling system. Energy efficiency was also improved through insulation
works to the ceiling. The pool was reopened in September 2021.

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
FUNDRAISING. DONATIONS AND LEGACIES
The Charity is a public benefit entity. Throughout our long existence as a charity we have received
constant and generous support from our subscribers and regular donors. Under our constitution all
persons who make significant contributions are entitled to become members of the Court of
Governors (the equivalent of shareholders) with power to appoint the Board of Management.
A number of regular small donations were received from the donors who give primarily to support
Foundationers.
FINANCIAL REVIEW
Net surplus for the year ended 31 August 2021 was £1,033,51612020- £986,396 deficit). The surplus
is largely driven by the recovery of our investment portfolio following the pandemic, recognising an
unrealised gain of £1.7m.
The Foundation has suffered further financial loss due to the global pandemic, having to close the
School for most of the Spring Term, and reduce fees for flexi boarders where overnight stays could
not be offered. The total cost of school fees refunded to parents was £1.3m. Last year the Summer
term school closure cost the Foundation £1.6m in fees.
Fee reductions remain the key driver of financial loss as costs remain broadly similar to the prior year.
AlthouBh cost savinES were made during the school closure, these were offset by additional costs this
vear from the refurbishment of the swimming pool and Gloucester House. The Foundation was able
to recover some of the cost of employees, wages through the government's Coronavirusjob Retention
Scheme, the total claim for the year being £139,56612020.' £408,9551-
Other educational income continues to be derived from educational lets and riding income. Property
income comprises income from Gatton Park Lettings Limited. These income streams have also taken
significant hits due to the pandemic, with no lettings booked for the Spring term and only one in the
Summer, usually the busiest times of year.
Investment returns
Foundationers are principally funded through the investment income generated by the investment
portfolio. The table below indicates the quarterly return on investments achieved by Investec Wealth
& Investment Limited I"Investec"I for each of the quarters ended within the period ended 30
September 2021 and compares the actual return with the benchmark.
2020
2021
2021
2021
Quarterlv
Actual return
Dec
Mar
Jun
Sept
8.3Yo
i.s%
6.3%
1.2%
Benchmark return
9.lyo
3.3%
5.6%
1.9Yo
io

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
FINANCIAL REVIEW Icontinuedl
Investec's annual performance return of 18.2% return has lagged behind the benchmark performance
of 21.4Y.. Although markets are starting to recover from the global pandemic there have been
additional difficulties arisin& particularly a recent rise in wholesale energy prices caused by a shortage
in natural gas supply. The annualised performance over 3 years has recovered from last year,
increasing to 8.0% compared with a bench mark of 6.3%. This level of performance remains
comfortably above the long-term objective of CPI + 4%.
Balance sheet
Of the £1.8m fixed asset additions in the year, £1.6m related to the Ground Source Heating project.
The project was completed in Summer 2021, and £4.5m was transferred to Land & Buildings to start
depreciating. The total capital cost of the GSHP project included in Land & Buildings is £5.3m.
Net current assets increased by £2.58m over the year, driven by drawing down the full £5.Im loan
facility as detailed in note 15. £2m of unutilised loan facility has been transferred into a short-term
deposit account, and is intended to cover any future cash shortfalls where the Foundation no longer
has an overdraft facility.
Following on from the defined benefit pension scheme valuation under FRS102, the pension scheme
surplus of £749,000 has not been recognised as it is considered a contingent asset.
As a result of the surplus for the year, total net assets increased to £35.1m.
PLANS FOR FUTURE PERIODS
The Board is keen to continue to develop a number of aspects of the School in order to be better able
to fulfil the charitable objectives of the Foundation.
The Ethos and Values of the School on which the future strategy is then based continue to be..
The School should offer an outstanding holistic education (academic, co-curricular and
pastorall. The main role of the School is to prepare its pupils for life in the outside world,
and pupils should leave ready to take their place in it without the necessity of further
education.
The School is fully comprehensive. non-elitist and non-selective, apart from a degree of
suitability selection in the Sixth Form.
The School is to have a boarding culture with a target number of full time boarders of around
50Yo of the full complement. It is a boarding school. not a day school with some boarding.
The School should have a maximum size of 1,150 and should be co-educational throughout.
Around IO% of the pupil base should be Foundationers.
The School should be an instiller of moral values, setting yardsticks for the behaviour
expected of its pupil base and alumni.
li

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
PLANS FOR FUTURE PERIODS {contlnuedl
The Board of Management's objectives remained consistent with the prior year. The key objectives
and a summary of the progress over the past years are..
To increase and maintain pupil numbers, particularly boarders and the Sixth Form:
o Target numk)er of boarders is 500 Iseptember 2021.. 497, September 2020.. 5011
Target number of Sixth Formers is 250 Iseptember 2021: 217, September 2020.. 2061
To improve pupil retention
To increase revenue and cash generated in order to make further investment in the School
facilities
Where possible to reduce costs.. While the pupil numbers are growing there is an upward
pressure on resources to support a growing number of pupils. The biggest item of
expenditure is the cost of staffin8. While pupil numbers have increased, staffing has not
increased at the same rate making staffing ratios more efficient. The Energy Project is
designed to deliver long term cost savings.
RESERVES AND FUNDING OF FUTURE WORK
With the exception of £27,(x)0 12020.. £19,000) of assets attributable to restricted funds, the
Foundation's assets are unrestricted as to their deployment and use. The amount and liquidity of the
assets attributable to each fund are sufficient to meet the related obligations.
The Board of Management believes that the free unrestricted funds of £6.5m Ibeing unrestricted
funds of £35.Im net of tangible assets of £28.6ml, which is wholly represented by investments, are
essential to finance the Charity's support of Foundationers. Free unrestricted funds have increased by
£0.7m since last year largely due to gains on the investment portfolio. The designated fund comprises
a surplus on the boarding fund which will be utilised to fund the future development and maintenance
of the boarding estate.
The reserves policy is reviewed annually by the Board of Management.
GA￿ON PARK LE￿INGs LIMITED
Gatton Park Lettings Limited is a wholly-owned subsidiary of the Foundation whose principal activity
is the letting of the conference facilities and non-educational boardinE facilities plus other trading
activities of the School. Turnover for the year ended 31 August 2021 was £35,062 12020.. £8,711).
Some lettings have been able to take place this year, but activity remains limited due to the ongoing
COVID-19 pandemic. The whole of the taxable profits of Gatton Park Lettings Limited are donated as
a charitable donation to the Foundation.
12

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
THE GATTON TRUST LIMITED I"GArroN TRUST")
The Foundation is the sole member of Gatton Trust, a charitable company whose objectives are to
conserve the historic landscape and buildings within Gatton Park,. provide access for the public to the
parkland and provide an education centre for the benefit of the public and the School.
This year work has continued to be affected by the COVID-19 pandemic. Lockdowns, government
restrictions and safety guidelines have all had an impact on activities, income and staffing. During the
vear 12,09312020.. 6,4221 visits were made to the park for events, activities and educational work.
Educational activities were one of the areas hardest hit by the lockdown. The peak season for school
visits was lost as winter restrictions were not eased until spring, and this meant school visits did not
resume until mid-may. This year only 588 school children visited the park, compared to 842 children
last year, which is significantly fewer than a normal year12019.' 3,2881.
It would not be possible to deliver the educational programmes or to maintain and develop the
parkland without the invaluable support of the 87 volunteers who gave 3,199 hours 12020- 93
volunteers and 4,814 hours). Volunteering lexcept to SUPPOrt open days) had to stop when the local
area was placed under Tier 4 restrictions (November 20201 and could not restart until the end of the
national lockdown lend of March 20211. The last two years have highlighted the importance of
volunteering for the Trust, but also for the volunteers themselves. IOYO of the volunteers are
vulnerable adults with issues such as mental health problems, physical disabilities and learning
difficulties.
Gatton Trust's surplus for the year ended 31 August 2021 was £31,64512020.. deficit £12,7251 showing
some recovery from the COVID-19 pandemic.
The funds carried forward amounted to £127,37712020= £95,732) of which É102,06812020.. £78,446)
comprise unrestricted reserves. After the year end, the Trustees agreed to designate £70,000 of
unrestricted funds to various parkland projects.
INDEPENDENT INQUIRY INTO CHILD SEXUAL ABUSE I'IISCA")
Following the School's self-referral to IICSA and the submission of all materials held relating to any
alleged or established child sexual abuse there has been one more historic claim during the year
requiring investigation. The School is insured to cover the outcome of this claim.
GOVERNANCE OF THE FOUNDATION AND SCHOOL
The governing bodies consist of=
The Court of Governors, which comprises of Life Members being those persons who make a
one-off donation in excess of £l,CK)O or members who make a declared annual subscription
in excess of £50 to the Foundation. Such persons hold office for a period of one year
following their most recent subscription or until their earlier resignation. The Court of
Governors, which meets annually, appoints the members of the Council and, in most cases,
the Board of Management.
13

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
GOVERNANCE OF THE FOUNDATION AND SCHOOL Icontinuedl
The Board of Management which at 31 August 2021 comprised three principal officers and
eight ordinary members. It is the Board of Management which has responsibility for the
Eeneral control and management of the administration of the Foundation and its members
have, therefore, the duties of charity Trustees. The Board of Management meets at least
termly.
The Council which acts in an advisory capacity to both the Court and the Board of
Management and comprises persons with a broad range of expertise and who are
distinguished in their field. The Council meets annually.
The Governing Body which is the body responsible for the educational management of the
School in accordance with the requirements of the various Education Acts. The Governing
Body has delegated authority from the Board of Management regarding management of the
boarding facilities, the Co-curricular program and pastoral care.
The Board of Mana
ement
The Board of Management and the Governing Body establish and control such committees as are
deemed necessary for the respective management of the Foundation and the School. A full list of the
members of the Board of Management and its sub-committees is included on pages 53 - 57.
Policies and Procedures Ado
ed for the Indurtion and Trainin
of Trustees
The members of the Board of Management (also referred to as Trustees) have high level and relevant
education, legal, estates, marketing, banking, finance and charity expertise. New Trustees, upon
appointment, follow an induction which includes an explanation of their role as Trustee. They are also
provided with detailed information regarding the Foundation and the School. Relevant ongoing
training is provided periodically. The members of the Board of Management who served during the
financial year and up to the date of signing these financial statements were..
David Frank
Graham Williams CA MBA
Fiona Sheridan
Timothy Redburn FCA
Richard Wells FRICS
John Billingham
Dame Mary Richardson BA PGCE DBE FRSA
Charles Wates BSC MRICS
Jonathan White MBA
Edward Winter
Nishma Acharya
Elizabeth Tadd
Christina Foord
Chair
Vice Chair- resigned 29 September 2020
Honorary Treasurer
reappointed 22 October 2020
Comptroller
resigned 29 lune 2021
14

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
GOVERNANCE OF THE FOUNDATION AND SCHOOL Icontlnuedl
All Trustees give their time freely and no remuneration or expenses were paid in the year. No Trustee
or person connected with a Trustee received any benefit from means tested bursaries during the year.
The Foundation Secretary and Bursar, Elizabeth Lowe, is Secretary to the Board of Management, the
Governing Body and a number of sub-committees.
The Senior Leadershi
Team
The day to day management of the School is the responsibility of the Headmaster, and the Senior
Leadership team I'SLT"). The SLT currently comprises the Headmaster, the Foundation Secretary and
Bursar, Foundation Director, Deputy Head Academic, Deputy Head Pastoral & Boarding, Deputy Head
Co-curriculum & Community, Senior Assistant Head, Head of Junior School, Assistant Head Behaviour
Management and Marketing Director.
In April 2021 Mark Dixon stepped down as Headmaster of the School. At the end of August 2021, the
Marketing Director also resigned from her role. There were no other changes to the SLT during the
year.
After the year end in September 2021, two new Interim Heads joined the SLT to cover the
responsibilities of Headmaster. The Interim Heads will remain with the School for the whole of the
21122 school year whilst the Governing Body recruits a new Headmaster. Also in September 2021. the
Deputy Bursar, Elizabeth Lowe, was promoted to Foundation Secretary and Bursar. Previously the role
was held by Peter Dawson, who became Foundation Director.
Other Senior Staff
The remuneration of the SLT is set with reference to the School Teachers Pay and Conditions
Document and is determined by the Remuneration Committee.
INVEsfMENT POWERS
The Foundation's investment powers are set out in the 1949 Act. However, the Charity Commission
has confirmed that the Foundation may exercise the wider powers of investment conferred by the
Trustee Act 2000. The Foundation's portfolio of investments is overseen by the Investment
Committee. Investec has been 8iven discretionary investment management powers, subject to certain
specified restrictions. The investment policy is to manage the portfolio for total return but to ensure
that over time the real capital value of the portfolio is maintained. There is no specific income target.
The investment objective for any year is to produce an investment return in excess of a customised
benchmark which, in particular, measures performance for gilts against FTSE Government All Stocks,
corporate bonds against Merrill Lynch Non Gilt All Stocks, fixed interest stocks against the FTA
Government All Stocks Index, UK Equities against the All Share index, overseas equities against
the FtA World ex UK index and commercial property against IPD Quarterly. All securities are held on
behalf of the Foundation by a nominee company which is a wholly-owned subsidiary of Investec.
15

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
PRINCIPAL RISKS AND UNCERTAINITIES
As part of its normal procedures, the Board assesses the major risks and uncertainties to which the
Foundation is exposed, in particular those related to the operations and finances of the Foundation.
The assessment comprises..
a review of all the risks that the Foundation may face in its normal operations for the year
ahead
an assessment of the likelihood of those risks occurring, together with an assessment of their
impact
the establishment of procedures, actions and systems to mitigate the risks identified and to
minimise any potential impact on the Foundation.
The monitoring of financial and other areas of performance ensures that the Board is continually
appraised of progress and the risks the Foundation faces.
The principal risks and uncertainties facing the entity are summarised as-.
the loss of key income streams. The Board takes appropriate professional advice and
regularly monitors the implications of such a loss.
reputational and monetary risk arising from sexual abuse cases. The Board works
cooperatively with the police, employs specialist public relation consultants and insures such
risks.
the loss of key personnel due to retirement/promotion. The Board is actively involved in
preparing and implementing succession planning strategies.
the inability to generate surpluses or raise capital to fund future capital projects required for
the future development of the School e.E. additional boarding house, further classrooms,
learnin8 resource centre.
expenditure required to maintain both the aging school estate as well as the heritage assets,
in particular Gatton Hall and the listed walls.
government policy relating to educational charities
Limits on planning permission for temporary buildings
government ordered closure of the school due to the COVID-19 pandemic
Liabili
insurance
The Foundation maintains liability insurance for its Trustees and officers and the Directors, Trustees
and officers of its subsidiary undertakings, which qualifies as a third party indemnity provision for the
purposes of the Companies Act 2006. This insurance was in foice during the financial year and at the
date of approval of the consolidated financial statements.
16

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Trustees are responsible for preparing the Report of the Trustees and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial
statements for each financial year which Bive a true and fair view of the state of affairs of the
Foundation and the group and of the incoming resources and application of resources of the group
for that period. In preparing these financial statements, the Trustees are required to=
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Statement of Recommended Practice: Accounting
and Reporting by Charities120151-
make judgements and estimates that are reasonable and prudent,.
state whether applicable UK accounting standards, comprising FRS 102, have been followed,
subject to any material departures disclosed and explained in the financial statements,. and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the Foundation will continue in business.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any time the financial position of the Foundation and enable them to ensure that the
financial statements comply with the Charities Act 2011 and the Charity (Accounts arbd Reports)
Regulations 2008. They are also responsible for safeguarding the assets of the charity and the group
and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information
included on the Foundation website. Legislation in the United Kingdom governing the preparation and
dissemination of financial statements may differ from legislation in otherjurisdictions.
DISCLOSURE OF INFORMATION TO AUDITORS
Each of the persons who is a Trustee at the date of approval of this report confirms that=
lal so far as the Trustee is aware, there is no relevant audit information of which the
Foundation's auditors are unaware,. and
Ibl they have taken all the steps that they ought to have taken as a Trustee in order to make
themselves aware of any relevant audit information and to establish that the Foundation's
auditors are aware of that information.
17

ROYALALEXANDRA AND ALBERT SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (contlnued)
INDEPENDENT AUDITORS
A resolution proposing that Moore Kingston Smith LLP be re-appointed as auditors will be put to the
forthcoming meeting of the Board of Management.
On behalf of the Board:
DTFrank
Chairman
7 December 2021
18

ROYALALEXANDRA AND ALBERT SCHOOL
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES
OF ROYAL ALEXANDRA AND ALBERT SCHOOL
OPINION
We have audited the financial statements of Royal Alexandra and Albert School and its subsidiaries
(the 'group'l for the year ended 31 August 2021 which comprise the Group Statement of Financial
Activities, the Group and Foundation's Balance Sheets, the Group Cash Flow Statement and notes to
the financial statements, including significant accounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and
Republic of Ireland, Iunited Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the Eroup's and the Foundation's affairs as at 31 August
2021, and of the group's incoming resources and application of resources, including its 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 accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditor's
Responsibilities for the audit of the financial statements section of our report. We are independent of
the charity 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. We believe that the audit evidence we have
obtained is 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 Trustees, 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 uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the group and
Foundation'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 with respect to going concern are
described in the relevant sections of this report.
OTHER INFORMATION
The other information comprises the information included in the annual report, other than the
financial statements and our auditor's report thereon. The Trustees are responsible for the other
information contained in the annual report. 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 assurance conclusion thereon.
19

ROYALALEXANDRA AND ALBERT SCHOOL
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES
OF ROYAL ALEXANDRA AND ALBERT SCHOOL
OTHER INFORMATION Icontinuedl
Our responsibility 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
course of the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a
material 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 fact.
We have nothing to report in this regard.
MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respect of the followinE matters where the Charities Act 2011 requires
us to report to you if, in our opinion..
the information given in the Trustees, Annual Report is inconsistent in any material respect
with the financial statements- or
the charity has not kept adequate accounting records,. or
the financial statements are not in agreement with the accounting records and returns: or
we have not received all the information and explanations we require for our audit.
RESPONSIBILITIES OF TRUSTEES
As explained more fully in the Trustees, responsibilities statement, the Trustees are responsible for
the preparation of the financial statements and for being satisfied that they give a true and fair view,
and for such internal control as the Trustees 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 Trustees are responsible for assessinE the group and
Foundation's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the Trustees either intend to liquidate
the group or Foundation or to cease operations, or have no realistic alternative but to do so.
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in
accordance with regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a 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 an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when
it exists. Misstatements can arise from fraud or error and are considered material if, individually or in
aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
20

ROYALALEXANDRA AND ALBERT SCHOOL
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES
OF ROYAL ALEXANDRA AND ALBERT SCHOOL
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS {continuedl
As part of an audit in accordance with ISAS IUKI we exercise professional judgement and maintain
professional scepticism throughout the audit. We also..
Identify and assess the risks of material misstatement of the financial statements, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The
risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purposes of expressing
an opinion on the effectiveness of the group and parent charity's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by the Trustees.
Conclude on the appropriateness of the Trustees, use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the group and Foundation's ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are required
to draw attention in our auditor's report to the related disclosures in the financial statements
or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on
the audit evidence obtained up to the date of our auditor's report. However, future events or
conditions may cause the group or charity to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including
the disclosures, and whether the financial statements represent the underlying transactions
and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities
or business activities within the group to express an opinion on the consolidated financial
statements. We are responsible for the direction, supervision and performance of the group
audit. We remain solely responsible for our audit report.
We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
21

ROYALALEXANDRA AND ALBERT SCHOOL
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES
OF ROYAL ALEXANDRA AND ALBERT SCHOOL
EXPLANATION AS TO WHAT EXTENT THE AUDIT WAS CONSIDERED CAPABLE OF DETE￿ING
IRREGULARITIES, INCLUDING FRAUD
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in
respect of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularities, including fraud is detailed below.
The objectives of our audit in respect of fraud, are; to identify and assess the risks of material
misstatement of the financial statements due to fraud,. to obtain sufficient appropriate audit evidence
regarding the assessed risks of material misstatement due to fraud, through designing and
implementing appropriate responses to those assessed risks,. and to respond appropriately to
instances of fraud or suspected fraud identified during the audit. However, the primary responsibility
for the prevention and detection of fraud rests with both management and those charged with
governance of the charity-
Our approach was as follows=
We obtained an understanding of the legal and regulatory requirements applicable to the
charity and considered that the most significant are the Charities Act 2011, the Charity SORP,
and UK financial reporting standards as issued by the Financial Reporting Council.
We obtained an understanding of how the group and Foundation comply with these
requirements by discussions with management and those charged with governance.
We assessed the risk of material misstatement of the financial statements, including the risk
of material misstatement due to fraud and how it might occur, by holding discussions with
management and those charged with governance.
We inquired of manaBement and those charged with governance as to any known instances
of non-compliance or suspected non-compliance with laws and regulations.
Based on this understanding, we designed specific appropriate audit procedures to identify
instances of non-compliance with laws and regulations. This included making enquiries of
management and those charged with governance and obtaining additional corroborative
evidence as required.
There are inherent limitations in the audit procedures described above. We are less likely to become
aware of instances of non-compliance with laws and regulations that are not closely related to events
and transactions reflected in the financial statements. Also, the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud
may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or
through collusion.
22

ROYALALEXANDRA AND ALBERT SCHOOL
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES
OF ROYAL ALEXANDRA AND ALBERT SCHOOL
USE OF OUR REPORT
This report is made solely to the charity's Trustees, as a body, in accordance with Chapter 3 of Part 8
of the Charities Act 2011. 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 any
party other than the charity's Trustees as a body, for our audit work, for this report, or for the opinion
we have formed.
- ￿P
Moore Kingston Smith LLP
16 December 2021
Statutory Auditor
Betchworth House
57- 65 Station Road
Redhill
Surrey
RHI IDL
Moore Kingston Smith LLP is eliEible to act as auditor in terms of Section 1212 of the Companies Act
2006.
23

ROYALALEXANDRA AND ALBERT SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL AcfiviTIES
FOR THE YEAR ENDED 31 AUGUST 2021
Unrestricted Funds
Foundation
Boarding
Fund
School
Fund
£'ooo
Réstricted
Funds
2021
2020
£'ooo
£'ooo
£'ooo
£'ooo
INCOME FROM
Charitable activities
Boarding tharges
Other educational income
8,461
31
8,461
149
7,830
54
118
Donatlons and legacles
Grants from government
and other public bodies
Donations and other
voluntary incorne
Legacy income
12
128
74
214
409
13
420
16
449
399
16
16
Tradlng actlvltles
Property income
Park conservation and
environmental education
35
35
69
69
37
Investments
218
218
232
Other intomè
175
175
20
Total income
481
9,215
90
9,786
8,990
EXPENDITURE ON
Charitablè artivities
School and grant making
11,7711
18,5891
110,3621
19,8431
Ralslng funds
Fundraising and
development
Investment management
costs
1361
1361
1331
Property letting expenses
Total expendlture
11,8221
18,5891
110,4131
19,8841
Nèt incomèllexpenditurèl
before gainsllosses on
investments
11,3411
626
88
16271
18941
24

ROYALALEXANDRA AND ALBERT SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL AcfiviTIES
FOR THE YEAR ENDED 31 AUGUST 2021 Icontinuedl
Unrestrlcted Funds
Foundatlon
Boardlng
Fund
School
Fund
£'ooo
Restrlcted
Funds
2021
2020
£'ooo
£'ooo
£'OL
£'ooo
Net incomellexpenditurel
before gainsllosses on
Investments
11,3411
626
88
16271
18941
Realised and Unrealised
Ilossllgain on investments
12
1,661
1,661
1931
Nèt incomèllexpenditurèl
after gainsllosses on
Investments
320
626
88
1,034
19871
Transfers between funds
Market rental charged
by Foundation Fund to
Boarding Fund
Foundation Bursaiie5
transferred to Boarding
School Fund
Additions and
improvements to land
and buildings
1,795
11,7951
18461
852
74
1741
Other recogni5ed gains and
losses
Actuarial gains/ Ilossesl on
the defined benefit pension
scheme
16
NET MOVEMENTIN FUNDS
1,343
13171
1,034
19871
Reconclllatlon of Funds
FUND BALANCES brought
forward at I September
33,385
668
19
34.072
35,059
FUND BALANCES tarried
forward at 31 August
34,728
351
27
35,106
34,072
All income arises from the continuing activities of the Group. There are no recognised gains or losses other than those
dealt within the Consolidated Statement of Financial Activities. There are no material differences between the net
income /lexpenditurel and the fund balances carried forward stated above and their historical cost equivalents.
The financial Statements have been prepared in line with FRS 102.
25

ROYALALEXANDRA AND ALBERT SCHOOL
CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2021
At 31 August 2021
Group
Foundation
£'o
At 31 August 2020
Group
Foundation
£'ooo
£'ooo
Noté
£'ooo
FIXED ASSETS
Tangible assets
Investments
li
28,620
28,620
28.243
28.243
12
10,842
10,842
9.116
9.116
Total fixed assets
39,462
39,462
37,359
37,359
CURRENT ASSETS
Debtors
Term deposit
Cash at bank and in hand
Total current a55ets
13
545
2.082
2,774
5,401
518
2,082
2,637
5,237
667
82
1,628
2,377
673
82
1,517
2,272
Creditors= Amounts falling due
within one year
NET CURRENT ASSErsi
ILIABIUTIESI
14
13,7621
13,7571
13,3191
13,3151
1,639
1,480
19421
11,0431
TOTAL ASSETS LESS CURRENT
UA8ILITIES
41,101
40,942
36,417
36,316
Creditors= Amounts falling due
after tsne year
15
15,9951
15,9951
12,3451
12,3451
TOTAL NET ASS￿5
35,106
34,947
34,072
33,971
THE FUNDS OFTHE CHARITY
Restricted income funds
17,20
27
19
Unrestricted income fund5
excluding pension liability
Pension reserve
Designated funds
Revaluation reserve
29,494
29,360
28,151
28.067
16
19
351
5.234
351
5,234
668
5.234
668
5,234
Total unrestricted income funds
17,18
35,079
34,945
34,053
33,969
TOTAL CHARITY FUNDS
35,106
34,947
34,072
33.971
The financial statements on pages 24 to 52 were approved by the Board of Management on 7
December 2021 and signed on their behalf=
DTFrank
Chairman
26

ROYALALEXANDRA AND ALBERT SCHOOL
CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2021
Year ended 31 August 2021
£'ooo
£'ooo
Year ended 31 August 2020
£'ooo
£'ooo
Note
CASH FLOWS FROM OPERATING
ACTIVITIES
Net cash provided by operating activities
22
965
1,129
Interest paid
1831
171
Net cash used in operatin8 activities
882
1,122
CASH FLOWS FROM INVESTING
ACTIVITIES
Dividends and interest from investments
218
232
Purchase of:
Investments
Fixed a55ets
11,4851
11,8121
11,5531
14,0811
Proceeds from..
Sale of investments
Sale of fixed assets
1,400
1,207
Decreaselllncreasel in short term
deposlts and investment adjustments
20
385
Net tash used in invèsting activitiès
11,6591
13,8071
CASH FLOWS FROM FINANCING
ACTIVITIES
New Borrowing:
Lloyd5 Bank loan5
4,100
1,000
Repayment of Borrowin8'.
Lloyd5 Bank loan5
11771
iiooi
Net tash used In flnanclng actlvltles
3,923
900
CHANGE IN CASH AND CASH
EQUIVALENTS IN THE YEAR
3,146
11,7851
Cash and cash equivalents at the
beginning of the year
1,710
3,495
Cash and cash equivalents at the
end of the year
4,856
1,710
27

ROYALALEXANDRA AND ALBERT SCHOOL
NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
I. GENERAL INFORMATION
Royal Alexandra and Albert School is a charity reElStered in the United Kingdom Ire8lStered charity
number 3119451. The charity's registered office and operational address is.. Royal Alexandra and
Albert School, Foundation Office, Gatton Park, Reigate, Surrey, RH2 OTW.
2. ACCOUNTING CONVENTION
The financial statements have been prepared in accordance with FRS 102 "The Financial Reporting
Standard applicable in the UK and Republic of Ireland" Accounting and Reporting by Charities..
Statement of Recommended Practice (Charities SORP IFRS 10211, and the Charities Act 2011.
The financial statements are prepared in sterling, which is the functional currency at the charity.
Monetary amounts in these financial statements are rounded to the nearest £1,000.
The consolidated financial statements incorporate those of the Foundation and of its subsidiary
undertakings, Gatton Park Lettings Limited Icompany registration number 032276851 and The
Gatton Trust Limited (company registration number 4216691, registered charity number 11014671,
(together the 'Group"l. Both subsidiaries make up their financial statements to 31 August and are
consolidated on a line by line basis. As permitted, a separate income and expenditure account
dealing with the results of the parent charity only has not been prepared.
The charity is a qualifying entity for the purposes of FRS 102 as It is the ultimate parent of publicly
available consolidated financial statements. The charity has taken advantage of the following
exemptions in its individual financial statements..
lil Under FRS 102 paragraph 1.12 Ibl, from preparing a statement of cash flows
lill Certain disclosure requirements of section 11 in respect of financial instruments
liiil Disclosure of the charity's key management personnel compensation
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention, as modified by
the inclusion of freehold buildings at deemed cost and certain financial assets and liabilities
measured at fair value. The principal accounting policies applied in the preparation of these
financial statements, consistently applied to all the years presented, are set out below.
Golng concern
The Foundation has suffered significant financial loss as result of the global pandemic and the
measures taken to contain it. The total cost of school fees refunded to parents this year was £1.3m,
and last year £1.6m. Fee reductions remain the key driver of financial loss as costs remain broadlv
similar. Although cost savings were made during the school closure, these were offset by additional
costs of refurbishment of the boarding estate. Whilst the ultimate impact of the pandemic cannot
currently be quantified, the Trustees expect a return to normality over the next 12 months and,
having made appropriate enquiries, the Trustees are satisfied that the Foundation has adequate
resources to continue for the foreseeable future being at least twelve month5 from the date of
approval of the financial statements. For this reason, the Trustees have continued to adopt the
going concern basis when preparing the financial statements.
28

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {continuedl
Incoming resources
All incoming resources are included in the consolidated statement of financial activities when the
charity is legally entitled to them, receipt is probable and the amount can be quantified with
reasonable accurary.
Boarding charges
Parental and local authority contributions represent the boarding charges paid by parents or local
authorities as appropriate and are recognised when service is provided.
Boarding charges in advance
The charity offers a boarding charges in advance scheme where the cost of boarding charges can
be reduced by making an advance lump sum payment. The scheme may be used to provide
advance payments towards boarding charges for any set number of terms during the pupil's
potential time at the School, from a minimum of 3 terms up to a maximum of 15 terms. The
minimum amount accepted by way of payment into the scheme is an amount calculated to
generate termly payments of £500 per term, and the maximum is an amount calculated to
generate the termly boarding charges at the time of entering the scheme. The commutation given
is charged to the consolidated statement of financial activities and the remaining lump sum is
deferred and recognised within current liabilities and released as the terms are used up.
Boarding charge deposits
Upon joining the School, a boarding charge deposit is taken for each pupil, which is returnable on
the pupil leaving the school. These deposits are included within current liabilities since there is the
potential for pupils to leave at any stage.
Bursaries
Bursaries are accounted for when the boarding charges to which they relate are recognised.
Bursaries funded by grant giving trusts are included within donations in the Boarding School Fund.
Foundation bursaries represent the boarding charges of bursary children funded by the
Foundation. The Foundation bursaries are shown as a transfer between funds on the face of the
Consolidated Statement of Fir)ancial Activities.
Donations and other voluntary income
Donations and other voluntary income represent income from donors, whether individual or
corporate, and grants from charitable trusts. Such income is accounted for when receivable and
quantifiable. Gifts in kind are valued at market value at the date of receipt.
Grants from government and other public bodies
Grants from government and other public bodies are accounted for when the charity is entitled to
the funds. Where entitlement to grants receivable is dependent upon fulfilment of conditions
within the charity's control, the incominB resources are recognised when there is sufficient
evidence that conditions will be met.
29

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {continuedl
Legacies
Legacies are recognised when a charity has entitlement to the income, it is probable that it will be
received and it can be measured reliably. Entitlement is taken as the earlier of the date on which
either.. the charity Is aware that probate has been granted, the estate has been finalised and
notification has been made by the executorlsl that a distribution will be made, or when a
distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered
probable when the amount can be measured reliably and the charity has been notified of the
executor's intention to make a distribution.
Income from investments
Interest is accounted for when receivable. Dividend income is accounted for when the right to
receive payment has been established.
Property and park conservatlon Income
Property lettings and park conservation income is accounted for in the period in which it is
receivable.
Other income
Other income consists of income received from insurance claims and contributions received
towards administrative costs. Income is recognised when receivable and quantifiable.
Expenditure
Costs of charitable activities include direct expenditure incurred through operational activities
including grants paid directly relating to the objects of the charity. Grants are recognised in the
period in which they are payable. Expenditure is accounted for on an accruals basis as a liability
arises. This includes attributable VAT which cannot be recovered.
Allocatlon of support and governance costs
Support costs are those functions that assist the work of the charity but are not directly incurred
in the performance of charitable activities. Support costs include a proportion of the Foundation
staff and office costs apportioned on the basis of staff time. Governance costs and support costs
relating to charitable activities include the audit fee and legal and tax advice. The allocation of
support and governance costs is analysed in note 8.
Taxation
The Foundation and The Gatton Trust Limited are registered charities and, as such, exempt from
taxation which applies both to capital gains and to the income arising and expended on its
charitable activities.
Gatton Park Lettings Limited donates its entire distributable profits to the Foundation, its holding
company. and expects to continue to do this for the foreseeable future thereby mitigating any
potent131 tax liability.
30

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {continuedl
Pension costs
The charity operates a defined benefit pension scheme, now closed to new members, for the
benefit of certain employees. The assets of the scheme are held separately from those of the
charity in independently administered funds. A defined benefit pension scheme defines the
pension benefit that the employee will receive on retirement, usually dependent upon several
factors including age, length of service and remuneration. A defined benefit scheme is a pension
scheme that is not a defined contribution scheme.
The asset recognised in the balance sheet in respect of the defined benefit pension scheme has
been restricted due to uncertainty around realisation of the net defined pension asset. This
restriction has resulted in a Énil balance at the financial year end. The net defined benefit pension
asset is the fair value of the pension scheme assets at the financial year end less the present value
of the defined benefit obligation at the end of the financial year. The defined benefit obligation is
calculated using the projected unit credit method. The charity engages independent actuaries to
calculate the obligation annually. The present value is determined by discounting the estimated
future payments using market yields on hiEh quality corporate bonds that are denominated in
sterling and that have terms approximating the estimated period of the future payments I'discount
rate'l- The fair value of pension scheme assets is measured in accordance with the FRS 102 fair
value hierarchy and includes the use of appropriate valuation techniques. Actuarial gains and losses
arising from experience adjustments and changes in actuarial assumptions are recognised in the
consolidated statement of financial activities as other recognised gains and losses. The net interest
Cost is calculated by applyin8 the discount rate to the net balance of the defined benefit obligation
and the fair value of pension scheme assets. The cost of the defined benefit scheme, recognised in
the consolidated statement of financial affairs as employee costs, except where included in the
cost of an asset, comprises the increase in pension benefit liability arising from employee service
during the period, and the cost of scheme settlements and changes.
The pension contribution is wholly allocated to unrestricted funds.
The charity also pays contributions, for those employees who elect to become members and for
whom the above scheme is closed, into a group personal pension scheme established with Legal
and General Assurance Society or into a qualifying pension scheme established with the National
Employment Savings Trust. These are both defined contribution schemes. Both schemes, assets
are invested separately from the Foundation assets and contributions, incurred and payable
monthlyi are charged to the Consolidated Statement of Financial Activities.
Operating Leases
The charity held only operating leases in the financial year. Operating leases cover leases of
equipment and vehicles,. where the title to the equipment remains with the lessor. The lease
rentals payable are charged to the statement of financial activities on a straight line basis over the
term of the leases.
31

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {continuedl
Transfers between funds
Transfers are made from and within unrestricted funds in line with charitable objectives. A market
rental charge of £1,794,781 for the use of the shared properties has been accounted for as a
transfer to the Foundation Fund from the Boarding Fund. The cost of Foundation funded bursaries
has been transferred to the Boarding School Fund from the Foundation Fund. The cost of fixed
asset additions funded by DfE capital grants have been transferred from the Foundation Fund to
restricted funds.
Related party transactions
The charity discloses all transactions with related parties including those within the same group.
Financial instruments
The charity applies Section 11 of FRS 102 in respect of financial instruments. Basic financial
instruments include trade and other receivables, trade and other creditors, cash and bank and
investments. Basic financial instruments are initially recognised at transaction value. Investments
are recognised at fair value throuBh profit and loss and the remaining assets are held at amortised
cost. Liabilities are all held at amortised cost.
Tangible assets and depreciation
Tangible fixed assets, costing £2,000 or more, are stated at historic cost less accumulated
depreciation. Cost includes the original purchase price of the asset and the costs attributable to
bringin8 the asset to its working condition for its intended use. Depreciation is recognised so as to
write off the cost of the assets, less their residual values, over their expected useful lives on the
following bases..
Freehold Land
No depreciation
Freehold Buildings
4Yo Straight line
Freehold Buildings Ilistedl 2Yo Straight line
Motor Vehicles
50Yo in the financial year of acquisition, 25% straight line thereafter
Furniture, Equipment
20% straight line
& Horses
Depreciation is charged for a full year in the year of acquisition. The useful economic lives and
residual value of fixed assets are reviewed at the end of each accounting period.
Freehold land and buildings were professionally revalued at 31 March 2013 to depreciated
replacement cost with the revaluation surplus being taken to the revaluation reserve. On
transition to FRS 102, the charity elected to take the revalued amount as deemed cost.
Projects in progress at the financial year end are carried forward to the accounting period of
completion of the project whereupon they are transferred to an appropriate asset category.
Depreciation is not charged on projects until they have been completed.
32

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {continuedl
Investments and investment management
Investments are a form of basic financial instrument and are initially recognised at their transaction
value and subsequently measured at their fair value as at the balance sheet date using the closing
quoted market price. Investments include short term deposits.
The charity does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and
investment markets due to wider economic conditions, the attitude of investors to investment risk,
and changes in sentiment concerning equities and within particular sectors or sub sectors.
The investment management costs are expensed separately to the Consolidated Statemerbt of
Financial Activities and are recognised on an accruals basis.
Reallsed and unreallsed galns and losses
All gains and losses are taken to the Consolidated Statement of Financial Activities as they arise.
Realised gains and losses are calculated as the difference between sales proceeds and opening
carrying value or purchase value of fixed assets or fixed asset investments if acquired subsequent
to the first day of the financial year. Unrealised gains and losses are calculated as the difference
between the fair value at the year end and their carrying value.
Cash at bank and in hand
Cash at bank and in hand is held to meet short term cash commitments as they fall due rather than
for investment purposes and includes all cash equivalents held in the form of short term highly
liquid investments. A cash equivalent will normally have a short maturity of three months or less
from date of acquisition.
Unrestricted funds
Unrestricted funds comprise accumulated surpluses and deficits on general funds. They are
available for use at the discretion of the Board in furtherance of the objects of the Foundation. The
unrestricted funds comprise the Foundation Fund and a designated fund, the Boarding School
Fund, the aims and purposes of which are set out in Note 19.
Restricted funds
These are funds for which the donor has specifically restricted the purpose for which the funds
may be used. Income received that has specific restrictions placed upon its use is credited to
restricted income within the SOFA on an entitlement basis. Unspent balances are carried forward
within the relevant restrirted fund.
33

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {continuedl
Critical accounting judgements and estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and
other factors, includinE expectations of future events that are believed to be reasonable under the
circumstances. The charity makes estimates and assumptions concerning the future. The resulting
accounting estimates will, by definition, seldom equal the related actual results. It is the opinion of
the Trustees that there are no estimates and assumptions that have a significant risk of causing a
material adjustment of the carrying amounts of assets and liabilities within the next financial year,
other than those addressed below.
Defined benefit pension scheme
The charity has obligations to pay pension benefits to certain employees. The cost of these benefits
and the present value of the obligation depend on a number of factors including life expectancy,
salary increases, asset valuations and the discount rate on corporate bonds. Management
estimates these factors in determining the net pension obligation in the balance sheet. The
assumptions reflect historical experience and current trends.
4. DONATIONS AND LEGACIES
2021
£'ooo
2020
Grants, donations and legacy income comprise..
Grants from government and other public bodies
Donations and other voluntary income
Legacy income
214
449
16
409
399
679
808
Capital grants
Income grants and donations
74
605
808
679
808
Grants from government and other public bodies comprise grants from the Department for
Education I"DfE"l of £73,931 towards capital projects12020: nil), and £139,56612020: £408,955)
claimed through the Coronavirus Job Retention Scheme to cover employees, wages.
34

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
4. DONATIONS AND LEGACIES Icontinuedl
Donations and other voluntary income include the following grants of £1,000 or more in respect of
bursaries for specific pupils:
2021
£'ooo
226
Royal National Children's Springboard Foundation
The Frank Buttle Trust UK
Anonymous Donor
The Reedham Trust
The BMTA Trust Limited
The Emmott Foundation
Royal Pinner School
St Marylebone Educational Foundation
Thornton
Lloyd Foundation
Fashion and Textile Children's Trust
Naval Children's Charity
The Forces Trust
75
28
24
22
li
li
5. INCOME FROM CHARITABLE ACTIVITIES
Foundation
Fund
Boarding
School
Fund
£'ooo
Restrirted
Funds
2021
2020
£'ooo
£'ooo
£'ooo
£'ooo
Contributions
towards boarding
charges..
Parental
Bursaries
Local Authorities
9,293
18521
20
9,293
18521
20
8,446
16341
18
Total contributions
8,461
8,461
7,830
Other educational
income
118
31
149
54
118
8,492
8,610
7,884
35

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
6. INVESTMENT INCOME
The Group's investment income arises as follows..
2021
£'ooo
218
2020
Dividends and interest
Interest receivable net of charges paid
226
218
232
7. TOTAL EXPENDITURE BY ACTIVITY TYPE
Support and
governance
costs
£'o
1,649
Direct
costs
£'o
8,713
Current year
2021
É'ooo
10,362
School and grant making
Fundraising and development
Investment management
Property lettings
36
36
8,761
1,652
10,413
Support and
governance
costs
£'o
1,653
Direct
costs
£'o
8,190
Comparative year
2020
É'ooo
9,843
School and grant making
Fundraising and development
Investment management
Property lettings
33
33
8,228
1,656
9,884
8. ALLOCATION OF SUPPORT AND GOVERNANCE COSTS
Support and governance costs are allocated on the basis of staff time as follows:
School
and grant
making
£'ooo
273
19
942
238
177
Propertv
lettings
£'OLN)
Current year
2021
£'ooo
273
19
945
238
177
Management
Professional fees
Staff costs
Other costs
Governance costs
1,649
1,652
36

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
8. ALLOCATION OF SUPPORT AND GOVERNANCE COSTS Icontinuedl
School
and grant
making
£'ooo
Property
lettings
£'o
Comparative year
2020
£'ooo
Management
Professional fees
Staff costs
Other costs
Governance costs
277
277
51
838
184
303
1,653
51
841
184
303
1,656
9. NET INCOMEIIEXPENDITUREI FOR THE YEAR
2021
2020
£'ooo
Net income/lexpenditurel is stated after charging..
Depreciation
Operating lease rentals
Bank charges and interest payable
Auditors, remuneration
Fees
Other Services
1,435
147
ioi
1,380
146
40
24
21
10. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES
The average monthly number of employees (including senior leadershipl employed by the Group
during the year was=
2021
27
2020
25
87
18
130
Management
Welfare
Maintenance
90
17
134
The average monthly number of employees (including senior leadershipl employed by the Group
during the year, calculated as full-time equivalents was..
2021
22
59
12
2020
20
58
14
Management
Welfare
Maintenance
93
92
37

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
10. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES Icontinuedl
Totsl compensation for all staff:
2021
£'ooo
2,637
230
173
147
93
3,280
2020
£'ooo
2,452
202
170
121
Wages and salaries
Social security costs
Pension costs- defined benefits
Pension costs- defined contributions
Termination benefits
2,946
Totsl compensation for key management:
2021
£'ooo
317
2020
£'ooo
285
Salaries
Benefits in kind
Pension costs
Termination benefits
Aggregate emoluments
20
93
432
19
307
Personnel with employee benefits (excluding
employer pension costs) between:
2021
2020
£60,001 to £70,000
£90,001 to £ICN),000
£l(x),001 to £llO,000
A payment of £260,(X)O was made to the school in respect of staff costs incurred by the school for
boarding related duties for the year ended 31 August 202112020.. £618,777). This is not part of
staff costs disclosed above.
No member of the Board of Management received remuneration in the current year.
Termination benefits of £92,83112020.. £1,332) have been paid to staff during the year.
The Foundation has a composite insurance policy which provides professional indemnity insurance
cover for the Officers, Governors, Council Members and Trustees. The cost of the cover relating to
the Trustees is inseparable from the cost of the total cover. The Charity Commission has made an
order to authorise the provision of indemnity insurance for the Trustees.
38

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
11. TANGIBLE FIXED ASSErs
Freehold
land and
buildings
£'ooo
Furniture,
equipment
and horses
£'ooo
Projects in
progress
£'ooo
Motor
vehicles
£'ooo
Group
Total
£,￿0
COST
I September 2020
Additions
Transfer
Disposals
31 August 2021
32,179
2,927
1,780
14,4971
1,977
20
133
12
37,216
1,812
4,490
1181
1,986
131
142
1211
39,007
36,669
210
ACCUMULATED
DEPRECIATION
I September 2020
Charge for year
Disposals
31 August 2021
17,2661
11,2621
11,6011
11521
18
11,7351
11061
1211
18,9731
11,4351
21
110,3871
18,5281
11241
NET BOOKVALUE
31 August 2020
31 August 2021
24,913
28,141
2,927
210
376
27
28,243
28,620
251
18
Freehold
land and
buildings
£'ooo
Furniture,
equipment
and horses
£'ooo
Projerts in
progress
£'ooo
Motor
vehicles
£'ooo
Foundation
Total
£'ooo
COST
I September 2020
Additions
Transfer
Disposals
31 August 2021
32,179
2,927
1,780
14,4971
1,961
20
131
12
37,198
1,812
4,490
181
1,980
Iiii
38,999
36,669
210
140
ACCUMULATED
DEPRECIATION
I September 2020
Charge for year
Disposals
31 August 2021
17,2661
11,2621
11,5851
11521
11041
1211
18,9551
11,4351
li
110,3791
18,5281
11,7291
11221
BOOKVALUE
31 August 2020
31 August 2021
24,913
28,141
2,927
210
376
27
28,243
28,620
251
18
39

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
11. TANGIBLE FIXED ASSErs
Freehold land and buildings were revalued at 31 March 2013 using the Depreciated Replacement
Cost method of valuation by Richard Greenaway FRICS of Stanley Hicks. This method of valuation
is used where there is no active market for the asset or no useful relevant evidence of recent sale
transactions due to the specialised nature of the asset. The valuation which is incorporated in the
figures below valued freehold land and buildings at 31 March 2013 at £24 million. Under FRS 102
the revalued amount or freehold buildings now equals deemed cost.
Borrowings from Lloyds Bank Plc, details of which are given in note 15, are secured against all
property.
12. INVESTMENTS
2021
£'ooo
2020
£'ooo
Investments comprlse:
UK Fixed Interest
Overseas Fixed Interest
Equities and Unit Trusts
402
195
407
373
8,192
8,972
144
10,141
10,738
104
10,842
Short term deposits
Group total investments
9,116
Investment in subsidiaries
Foundation total investments
10,842
9,116
The Trustees believe that the carrying value of the investments is supported by underlying assets
andlor future cash flows.
2021
£'ooo
8,972
1,485
11,4001
20
1,661
2020
£'ooo
8,719
1,553
11,2071
UK Listed Investments
At I September
Additions
Disposal proceeds
Adjustments
Realised & unrealised gain on investment
1931
Market value at 31 August
10,738
8,972
Historical cost at 31 August
6,685
6,156
Stocks and money held in the portfolio managed by Investec are held to the order of Lloyds Bank
plc as security for the loan and overdraft facilities. Details in note 15.
40

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
12. INVESTMENTS Icontinuedl
2021
2020
Investment in subsidiary at cost
ioi
ioi
Gatton Park Lettlngs Llmited
The Foundation controls the ordinary share capital of Gatton Park LettinES Limited, a company
incorporated in England and Wales (company registration number 032276851. The principal
activity of Gatton Park Lettings Limited is the commercial letting of Gatton Hall and other site
facilities. The whole of Gatton Park Lettings Limited's taxable profits are donated under gift aid to
the Foundation.
2021
£'ooo
35
131
32
2020
Turnover
Expenditure
Operating profit donated to the Foundation
Assets
37
12
161
Funds
32
The Gatton Trust Limited
The Foundation is the only member of The Gatton Trust Limited, a charitable company limited by
guarantee and incorporated in England and Wales (company registration number 4216691,
registered charity number 11014671. The principal activities of the company are the restoration
and conservation of Gatton Park and the provision of access for the public to the parkland and the
provision of educational resources.
2021
£'ooo
94
1621
32
2020
£'ooo
59
1721
1131
Turnover
Expenditure
Operating surplus/ldeficitl
Assets
133
161
127
loo
141
96
Funds
Gatton Estates Limited
The Foundation controls the ordinary share capital of Gatton Estates Limited, a company
incorporated in EnBland and Wales (company reElStration number 124696911. The company was
incorporated on 18 February 2020 and is yet to commence trading. It has adopted the exemption
from preparing accounts under section 394A of the Act for the financial year ended 31 August 2021.
41

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
13. DEBTORS
31 August 2021
Foundation
£'O(M)
55
31 August 2020
Foundation
£'ooo
79
Group
£'IM)O
87
Group
£'ooo
80
Trade debtors
Amounts owed by group
undertakings
Other debtors
Prepayments and
accrued income
243
243
316
316
215
214
271
271
545
518
667
673
Trade debtors are stated after bad debt provision of £347,95412020: £280,0941. During the year
bad debts totalling £78,82412020'. £62,552) were written off.
Amounts owed by group undertakings are unsecured, interest free, have no fixed date of
repayment and are repayable on demand.
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31 August 2021
Foundation
£'iwo
760
54
81
31 August 2020
Foundation
£'ooo
761
45
86
Group
£'ooo
760
54
83
Group
£'ooo
762
45
86
Trade creditors
Taxation and social sec.
Other creditors
Amounts owed to group
undertakings
Lloyds loan
Boarding charges in
advance
Boarding charge deposits
Accruals and deferred
income
293
1,763
293
1,763
125
1,232
125
1,232
301
508
301
505
391
678
391
675
3,762
3,757
3,319
3,315
Amounts owed to group undertakings are unsecured, interest free and payable on demand.
42

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (continued)
Deferred income comprises boarding charges received in advance of the start of Autumn Term.
31 August 2021
Foundation
£'ix)o
1,232
11,2321
1,763
1,763
31 August 2020
Foundation
£'ooo
1,332
11,3321
1,232
1,232
Group
£'ooo
1,232
11,2321
1,763
1,763
Group
£'ooo
1,332
11,3321
1,232
1,232
At I September
Amount released in year
Amount deferred in year
At 31 August
15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31 August 2021
Foundation
£'wo
31 August 2020
Foundation
Group
£'ofy)
Group
£'o
Instalment debts
Due 2 to 5 years
Due after 5 years
999
3,998
4,997
999
3.998
4,997
467
775
1,242
467
775
1,242
Fee Deposits
Due 2 to 5 years
Due after 5 years
711
711
758
345
1,103
758
345
287
998
287
998
1,103
TOTAL
5,995
5,995
2,345
2,345
The Foundation's principal bankers are Lloyds Bank Plc. The Foundation has three loan facilities
and no overdraft facilities.
The terms of the outstanding bank loan of £266,667 are that interest only was payable until April
2014 and the loan is then repayable in 30 termly instalments finishing in January 2024.
The terms of the outstanding bank loan of £5,023,832 are that interest only was payable until
March 2021 and the loan is then repayable in monthly instalments over 20 years, finishing in March
2041.
The charity has a third loan facility available of £1,300,000, on which no draw downs have been
made to date. From the drawdown date, the loan will become repayable in monthly instalments
over 20 years.
43

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
15. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR Icontinuedl
In granting loan and overdraft facilities in 2011, Lloyds Bank PIC required a base rate cap agreement
to be entered into until January 2024. The interest rate cap is 3.0%. No further base rate cap
agreement was entered into in granting the £5.Im Of £1.3m loans.
The loans and overdraft are secured on all property. Stocks and money held in the portfolio
managed by Investec are also held to the order of Lloyds Bank Plc.
16. PENSION SCHEME OBLIGATIONS
Defined Contribution Schemes
The Foundation operates two defined contribution schemes for employees. One is a group
personal pension scheme established with Legal & General Assurance Society. Contributions of
£11,49212020: £12,216) were made during the year. As at 31 August 2021 no contributions12020'.
£3,147) were payable to the scheme. The other scheme is an auto enrolment "qualifying" scheme
established with National Employment Savings Trust. Contributions of £117,75712020.. £82,817)
were made during the year. As at 31 August 2021 contributions totalling £14,75312020'. £11,054)
were payable to the scheme.
Gatton Trust operates a defined contribution scheme with Whitechurch and with National
Employment SavinES Trust. Contributions of £2,23912020.. £3,222) were made during the year.
Defined Benefit Scheme
The Foundation maintains a defined benefit pension scheme operated by Legal & General
Assurance Society with assets held in a separately administered fund. The information shown
below is provided in conformity with the requirements of Section 28 of FRS 102.
The assets of the pension scheme are held separately from those of the Foundation and are
administered by Charterhouse Consultancy Ltd. The contributions are determined by an
independent qualified actuary on the basis of triennial valuations using the projected unit method.
A full actuarial valuation was carried out at 23 March 2021 and updated to 31 August 2021 by the
actuary, based on the provisions of FRS 102.
The most recent triennial valuation at 23 March 2021 revealed a funding surplus (technical
provisions less value of assets) of £0.118m. An updated Schedule of Contributions is in the process
of being finalised by the scheme Trustees. Currently the employer has agreed recovery plan
contributions of 44% of pensionable pay, plus £8,300 a month in respect of the past service
shortfall. In addition, the employer contributes £5,500 a month towards the expenses of the
scheme. Contributions paid by the Foundation during the year ended 31 August 2021 were
£173,00012020: £172,000).
44

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
16. PENSION SCHEME OBLIGATIONS {continuedl
The scheme was closed to new members in March 2001. The employees, contribution is 510 of
pensionable pay in excess of £IOO12020: 5%). The current service cost for this scheme for the year
was £6,00012020.. £6,000). The current service cost is consistent with prior years.
As required by FRS 102, the defined benefit liabilities have been measured using the projected unit
method. The table below state the FRS 102 actuarial assumptions upon which the valuation was
based.
2021
2.4%
3.3%
2.2%
2020
2.1%
3.0%
2.2%
1.6%
3.1%
Rate of increase in salaries
Rate of increase in pensions in payment capped at 5%
Rate of increase in pensions in payment capped at 2.5Yo
Discount rate
Inflation rate
1.6%
3.4¥0
Under FRS 102 the rate used to discount liabilities is based upon corporate bond yields
The mortality assumptions adopted imply the following life expectations at age 60:
2021
Years
26.3
28.9
2020
Years
26.4
28.5
Retiring today - Men
Retiring today- Women
Retiring in 20 years- Men
Retiring in 20 years- Women
27.5
30.1
27.7
29.8
The major tategories of scheme assets are as follows..
2021
£'ooo
2020
£'ooo
UK Equities
Global Equities
Government Bonds
Corporate Bonds
Cash
Value of annuities.
1,020
1,384
1,050
1,090
148
3,547
803
1,091
1,078
1,073
97
4,028
Total scheme assets
8,239
8,170
The value of annuities is taken to be equal to the corresponding value of liabilities calculated in
accordance with the actuarial assumptions above.
45

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
16. PENSION SCHEME OBLIGATIONS {continuedl
Analysis of amounts charged to statement of financial activities..
2021
£'o
161
1671
2020
É'ooo
161
1551
Current service cost
Expenses
Net interest credit/lcostl
Unrecognised net interest credit
171
181
Net cost recognised as an expense
1731
1611
Return on pension scheme assets excluding interest income
Net scheme surplus not recognised
Actuarial gainlllossl in the present value of liabilities
86
13941
208
1521
21
1801
Total actuarial gainlllossl recognised
li￿)
Iiiii
Reconciliation of opening and closing balances of the scheme assets and liabilities..
Present
value of
scheme
liabilities
£'ooo
17,8221
161
11231
208
Gr055
pension
asset/
Illabilityl
£'ooo
Fair value of
scheme
assets
£'ooo
Opening scheme assetsllliabilities
Current service cost
Interest incomellcostl
Actuarial gain/llossl
Contributions by employer
Contributions by scheme participants
8enefits paid
Expenses paid
Closing scheme assets/lliabilitiesl
8,170
348
161
130
86
173
294
173
iii
255
12551
1671
8,238
1671
749
17,4891
The total return on scheme assets for the year was a £68,0(K) gain12020.' £73,OCK) lossl.
The actuarial valuation at 31 August 2021 generated a net scheme asset of £749,000 12020..
£348,000). For reporting purposes this net scheme asset has not been recognised due to
uncertainty over its recoverability.
46

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Group
Foundation
Fund
£'ooo
Designated
funds
£'ooo
Restricted
funds
£'o
Total funds
2021
£'ooo
Current year
Fixed assets
Investments
Net current
assets/lliabilitiesl
Non-current liabilities
Net assets
28,620
10,842
28,620
10,842
1,261
351
27
1,639
15,9951
34,728
15,9951
35,106
351
27
Comparative year
Foundation
Fund
£'ooo
28,243
9,116
Designated
funds
£'OLNJ
Restricted
funds
£'o
Total funds
2020
£'ooo
28,243
9,116
Fixed assets
Investments
Net current
assets/lliabilitiesl
Non-current liabilities
Net assets
11,6291
668
19
19421
12,3451
33,385
12,3451
34,072
668
19
Foundation
Foundation
Fund
£'ooo
28,620
10,842
Designated
funds
Restricted
funds
£'OLN)
Total funds
2021
£'wo
28,620
10,842
Current year
Fixed assets
Investments
Net current
assetsllliabilitiesl
Non-current liabilities
Net assets
1,127
351
1,480
15,9951
34,594
15,9951
34,947
351
Comparatlve year
Foundation
Fund
£'ooo
28,243
9,116
Designated
funds
Restricted
funds
£'OLN)
Total funds
2020
£'wo
28,243
9,116
Fixed assets
Investments
Net current
assetsllliabilitiesl
Non-current liabilities
Net assets
11,7131
668
11,0431
12,3451
33,301
12,3451
33,971
668
47

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
18. GROUP STATEMENT OF FUNDS
At I Sept
2020
£'ooo
Fund
transfers
£'ooo
At 31 Aug
2021
£'ooo
Income
£'ooo
Expenditure
Unrestricted funds..
Foundation Fund
Boarding School Fund
Restricted funds
33,385
668
2,142
9,215
90
11,447
11,8221
18,5891
1,023
19431
1801
34,728
351
19
34,072
27
35,106
110,4131
At I Sept
2019
É'ooo
Fund
transfers
É'ooo
At 31 Aug
2020
£'ooo
Income
£'ooo
Expendlture
Unrestricted funds..
Foundation Fund
Boarding School Fund
Restricted funds
33,278
1,747
34
321
8,664
11,3841
18,5861
171
19,9771
1,170
11,1571
1131
33,385
668
19
35,059
8,990
34,072
19. GROUP DESIGNATED FUNDS
Group and Foundation unrestricted funds include the following designated fund:
At I Sept
2020
£'ooo
New
designations
£'ooo
At 31 Aug
2021
£'ooo
Utilised
£'ooo
Boarding School Fund
668
9,215
19,5321
351
At I Sept
2019
£'ooo
New
designations
At 31 Aug
2020
utilised
£'ooo
Boarding School Fund
1,747
8,664
19,7431
668
New designations represent boarding income for the year while amounts released represent
boarding expenditure including other reco8nised gain51llossesl and net fund transfers tolfrom the
Boarding School Fund. The surplus on Boarding School Fund will be used principally to fund the
future development and maintenance of the boarding estate.
After the year end, it was agreed by the Trustees of Gatton Trust to designate £70,000 of the
unrestricted funds to various parkland projects.
48

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
20. GROUP RESTRICTED FUNDS
At I Sept
2020
£'(M)O
Income/
Capital
£'OCK)
74
At 31 Aug
2021
Utilised
£'ooo
1741
DfE building grants
Weir Bridge fund
University of Bristol prize fund
Foundationer Fund
Hardship Fund
Foundation restricted funds
iii
151
1801
80
Gatton Trust- Park Conservation
& Education
Group restritted funds
17
io
121
25
19
90
1821
27
At I Sept
2019
£'ooo
Incomel
Capital
£'ooo
At 31 Aug
2020
Utilised
£'ooo
DfE building grants
Weir Bridge fund
University of Bristol- prize fund
Foundation restricted funds
Gatton Trust- Park Conservation
& Education
Group restricted fund5
32
1201
17
34
1201
19
DfE building grants are received to fund specific fixed asset projects. Weir Bridge funds were
received for the restoration of the Weir Bridge. The University of Bristol donated £1,000 as a prize
fund for the Most Improved Student to be paid out equally over 10 years. Donations to the
Foundationer Fund are received specifically to support our Foundationer pupils. The Hardship Fund
was set up to provide school fee support in 20121 to those who were experiencing financial
problems as a result of the COVID-19 pandemic
21. FINANCIAL COMMITMENTS
The Foundation had the following future minimum lease payments under non-cancellable
operating leases for assets, other than land and buildings, payable as follows..
2021
£'ooo
2020
£'ooo
Within one year
Within two to five years
After five years
96
106
44
246
131
93
224
49

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
21. FINANCIAL COMMITMENTS Icontinuedl
Amounts contracted for but not provided in the financial statements:
31 August 2021
Foundation
£'ix)o
31 August 2020
Foundation
£'ooo
Group
£'ooo
Group
£'ooo
Acquisition of tangible
fixed assets
1,764
1,764
22. CONSOLIDATED CASH FLOWS FROM OPERATING ACTIVITIES
2021
£'ooo
1,034
2020
£'ooo
19871
Net income/lexpenditurel for the year
Adjustments for:
IGainl/Loss on investments
Interest paid
Investment income
Depreciation charge
IProfitl/Loss on sale of assets
11,6611
83
12181
1,435
93
12321
1,380
51
Movements in working capital:
Decreaselllncreasel in debtors
(Decreaselllncrease in creditors
122
170
180
637
Net cash inflow from group operations
965
1,129
23. ANALYSIS OF CHANGES IN NET DEBT
Other
non-cash
changes
£'ooo
At I Sept
2020
£'ooo
Cash
flows
£'o
At 31 Aug
2021
£'ooo
Cash and cash equivalents
Cash at bankand in hand
1,710
1,710
3,146
3,146
4,856
4,856
Borrowings
Debt due within oneyear
Debt due after one year
11251
11,2421
11,3671
11681
168
12931
14,9971
15,2901
13,9231
13.9231
Total
343
17771
14341
50

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
23. ANALYSIS OF CHANGES IN NET DEBT {continued)
Other
non-cash
changes
£'ooo
At I Sept
2019
£'ooo
Cash
flows
£'ooo
At 31 Aug
2020
£'ooo
Cash and cash equivalents
Cash at bankand in hand
3,495
3,495
11,7851
11,7851
1,710
1,710
Borrowings
Oebt dLJe within one year
Debt due after one year
iiooi
13661
14661
1251
25
11251
11,2421
11,3671
19011
19011
Total
3,029
12,6861
343
24. FINANCIAL INSTRUMENTS
2021
£'ooo
2020
£'OOD
Financial assets held at amortised cost:
Trade debtors
Accrued income
Other debtors
87
80
119
316
243
334
515
Financial assets held at fair value through profit and loss:
Investments
10,842
9,116
Financial liabilities held at amortised cost:
Creditors: amounts falling due within one year
Trade creditors
Accruals
Lloyds loans
Other creditors
760
508
293
418
762
678
125
522
1,979
2,087
Creditors: amounts falling due after one year
Lloyds loans
Other creditors
4,997
998
5,995
1,242
1.103
2,345
51

ROYALALEXANDRA AND ALBERT SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
{continuedl
25. RELATED PARTY TrANSACTIONS
The Foundation enjoys a close working relationship with Royal Alexandra and Albert School which
is a maintained school funded by Surrey County Council. The Foundation funds the boarding
facilities and pastoral care, in partnership with Surrey Education Authority who fund the pupils,
tuition. The Foundation has the power to appoint the majority of the Governing Body to whom
day to day manaEement of the boarding at the school and the running of the Co-curricular program
is delegated.
The Foundation provides funds to the school towards the running costs and the school recharges
the Foundation a portion of staff costs for boarding duties carried out by teaching staff. There are
cross charges between the school and the Foundation in relation to shared facilities e.g. utilities,
maintenance, insurance, horse care costs and catering costs (free school mealsl as well as shared
personnel.
2021
£'ooo
2020
£'ooo
Grant to School
Salary reallocation charge
264
260
12
619
Recharged by Foundation to School:
Salaries
Other (net of VATI
118
42
190
106
Recharged by School to Foundation:
Salaries
Other (net of VATI
195
233
102
149
Purchases from related parties:
Gatton Community Theatre
M Dixon
Donations received by Gatton Trust from related parties:
Netherby Trust
Merstham Millennium Trust
During the year, the following key management personnel were customers of the Foundation:
Name
G Bendall
J Czerpak
M Dixon
S King
L Miller
J Gale
S Greenwood
Annual transaction value
£5,354
£648
£11,164
£2,971
Amount outstanding at 31 Aug 2021
1£1,8591
£34
IE121
1£1,4281
1£1,6951
£14
£2
£719
£144
During the year, Gatton Trust purchased a long-seNice retirement gift for former Trustee Graham
Williams at a cost of £125.
52

ROYALALEXANDRA AND ALBERT SCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS AS AT 31 AUGUST 2021
Registered Name:
Royal Alexandra and Albert School
Charlty Number:
311945
Principal Address:
Foundation Office
Gatton Park
Reigate
Surrey
RH2 OTW
Tel.. 01737 649050
Solicitors:
Farrer & Co LLP
66 Lincoln's Inn Fields
London
WC2A 3LH
Bankers:
Lloyds Bank plc
115 The Broadway
Crawley
Surrey
RHIO IDU
Investment Advlsers:
Investec Wealth & Investment Ltd
30 Gresham Street
London
EC2V 7QN
Independent Auditors:
Moore Kingston Smith LLP
Chartered Accountants and Statutory Auditors
Betchworth House
57-65 Station Road
Redhill
Surrey
RHI IDL
53

ROYALALEXANDRA AND ALBERT SCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS AS AT 31 AUGUST 2021 Icontinuedl
PATRON
Her MajestyThe Queen
PRESIDENT
HRH The Duchess of Gloucester
BOARD OF MANAGEMENT
David Frank
Chair
Graham Williams CA MBA
Fiona Sheridan
Timothy Redburn FCA
Richard Wells FRICS
John Billingham
Dame Mary Richardson BA PGCE DBE FRSA
Charles Wates Bsc MRICS
Jonathan White MBA
Edward Winter
Nishma Acharya
Elizabeth Tadd
Christina Foord
Vice Chair- resiEned 29 September 2020
Honorary Treasurer
reappointed 22 October 2020
Comptroller
resigned 29 June 2021
MEMBERS OF THE COUNCIL:
The Lord Lieutenant of the County of Surrey
The Rt Hon The Lord Mayor of London
The Mayor of Reigate & Banstead
The Chairman of Surrey County Council
Crispin Blunt MP
Canon Peter Bruinvels
Rt Rev jonathan Clark
John Cornish
David Frank
William Gillen
Ali Henderson
Dr Claire Hodgkiss
Pauljulius
Barry Lambert
Richard Link
Drjeffrey Magee
Gerri McAndrew
James Meyer
Hilary Moriarty
Dorothy Ross-Tomlin
Paul Ryder
The Hon Mrs Lavinia Sealy
Fiona Sheridan
resigned 24 September 2021
lex officio- Chairman Board of Management)
appointed 12 September 2021
resigned 13 September 2021
resigned 14 September 2021
lex officio- Treasurer Board of Management)
54

ROYALALEXANDRA AND ALBERT SCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS AS AT 31 AUGUST 2021 Icontinuedl
MEMBERS OF THE COUNCIL {contlnued)
Adrian Smart
Katie Sunlev
Robert Swannell CBE
Sir Eric Thomas
Sally Varah DL
Andrew Wates
Richard Wells
Graham Williams
lex officio - Comptroller Board of Management)
lex officio - Vice Chairman Board of Management)
resigned 29 September 2020
FINANCE & GENERAL PURPOSES IF&GP) COMMITTEE
Edward Winter
Chair
John Billingham
David Frank
Timothy Redburn
Fiona Sheridan
Charles Wates
Richard Wells
Graham Williams
Andy Cowen
M(yrk Dixon
Edward Perry
reappointed 22 October 2020
resigned 29 September 2020
resigned 30 April 2021
INVESTMENTCOMMIThEE
Graham Williams
Timothy Redburn
David Frank
Fiona Sheridan
Richard Wells
Edward Winter
Chair- resigned 29 September 2020
Chair- reappointed 22 October 2020
55

ROYALALEXANDRA AND ALBERT SCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS AS AT 31 AUGUST 2021 Icontinuedl
BURSARY COMMITTEE
David Frank
Nishma Acharya
John Billingham
Fiona Sheridan
Elizabeth Tadd
Jonathan Boyce
Peter Dt7wson
Elizobeth Lowe
M(Jrk Dixon
Ron Seorle
Chair
Chaplain
Bursar- resigned 31 August 2021
Bursar- appointed I September 2021
resigned 30 April 2021
STAFF MATTERS COMMITTEE
John Billingham
David Frank
Fiona Sheridan
Mork Dixon
James Molley
Andrea Self
Judith Mogee
Chair
Headmaster- resigned 30 April 2021
Interim Head- appointed I September 2021
appointed 29 September 2020, resigned 2 July 2021
appointed 29 September 2020
SAFEGUARDING COMMIThEE
David Clomp
John Billingham
David Frank
Elizabeth Tadd
Chris Green
John Stafford
Chair
REMUNERATION COMMirrEE
John BillinBham
David Frank
Edward Winter
Fiona Sheridan
Ros Kamaryc
Ron Seurle
Chair
Chair of the Board of Management
Chair of the F&GP Committee
Honorary Treasurer of the Board of Management
56

ROYALALEXANDRA AND ALBERT SCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS AS AT 31 AUGUST 2021 Icontinuedl
GATTON TRUST LIMITED
Graham Williams
David Frank
Peter Dawson
Chair- resigned 29 September 2020
Chair as of 25 November 2020
Moggie Kippen
Alon Mortlock
Helen Neve
Gail Sperrin
appointed 21 July 2021
GAThON PARK LE￿ING5 LIMITED
Covered underthe F&GP committee
Richard Wells
David Frank
Peter Dowson
Mark Dixon
Elizubeth Lowe
Helen Pollord
Chair
resigned 27 May 2021
appointed 23 November 2021
resigned 26 January 2021
Only members of the committees have been listed, members 'in attendance, have not been
included.
Nomes in itulics are Committee members who are not members of the Board of Management
57