2020-09-30-accounts

International. students House ANNUAL REPORT 2020

Contents Governors. Annual Re ort Statement of Gov8rnors' res nsibilities nde ndent Audltor's Re 25 Consolldated Statoment of Flnanclal Actlvltlos for ear ended 30 Se tembar 2020 The Balance Sheet as at 30 Se tember 2020 30 Consolldated cash flow statsment 31 Notes to tho cash flow ststem•nt Notss to the accounts

Objectives The ortglng of InlemaYonal Students House (The House., ISH) dale back to 1917 when a social club was fomad for some of the thousaThJs ol ovorsÈ8a students who came to London each year, with a view to incr8ase intemailonal undBrstsnding and frl8ThJshlp. ISH was dficially opened a8 a residonce for 8lu¢Jents on 4 M8y 1965. and ISH COn￿n(leS lo provlde an environment vthl¢h f8&lW88 lfie ortrwth 8rKI development of loday'9 yourrfJ peopl• from 811 overth6 worfd.11 gives them the opportunity to live in c8ntr81 London and experience a waallh of cultures, tKJt only British, but of th8 many natlonall￿eS of their peers. Thg Govamor8 approved the updated M8nh)Tandum and Ajticles ofA880claUon ol ISH on 21 M8y 2020. Sincg 1986, ISH wa8 8UPPOrt&J by the Intemation81 Studen18 Trust IISTI In dellvering Its charftablg Ob￿￿¥88. A8 part of a %￿d￿r rgvlew o19ovgmance and structur88, t8king account of the allgned ￿￿￿On, m189lon and oblecdvos of ISH and 1ST, the 1ST Tru8tee8 ond ISH'$ Gov¢mor8 declded, after taking 8pproprfate leg81 ad￿¢0 lo 8rnalgamAte th& iwo ch8rltio$. The rwi Structure wlll delfver c08t $avlngs. irnprove efflciency and make best u80 or available resourc88. On 6 Augusl 2020, 1ST Trustee8 slgnad a rasolU￿On lo mak& 8 ¢haritable donation of all its 098ets, Including Ih08e of It8 8ub91dary Charity Mary Trevety8n Fund, to ISH. Th8 8888ts ol 1ST w8re don8t8d to ISH on 30 September 2020 and are incorporntèd In ISH'I Ilatement of flnandal actlvlt188 for Ihg year erKled 30 S8ptamb8r 2020. Th6 objèct8 of Intern8tional Students House as re51algd in the upd8ted Memorandum and Artlcl&$ of As$0¢181ion arg as lollow9'. lo provlde and rnalntaln weml898 In the Unlted Klngdom wth a lo a8818￿r0 8tu¢J8ntg lincludlrvJ po8tgr8Oual8 &lud8nts and pergons &ng8g¢d in research) Ihereinafter ca119d 'lhg ben0firia￿S"I lo pursue 8e8rch 8l univerglt+e3, colleg88, And other institutions of luriher educatlon, by affordltVJ them h08tel ac￿MM(￿ja￿0n and facilitie8 for re8t, r8cr8aUon, 8tudy. lectures and meets"ng8,' loster raclal hamiony belw&en the beneflciarle8 and the countr1&8 thèy repr088nt, andlorethnlc or r8cl81 g￿up Ihey represent.

Charitable Mission Tho House has interpreted thè above objectives by defining Its charitable mission a8 follows: To help students to achieve the academic, personal aims and career aspirations that have brought them to the United Kingdom. To provide the best possible opportunities for international students to experience the many facets of life in the United Kingdom and to give them a deeper understanding of British society. To give British and international students an opportunity to broaden their horizons through friendship with people from widely differing backgrounds and cultures. By these means to make an effective contribution to better international relations. To promote global friendship and understanding.

Respect Advocating global friendship and understanding , Trust & Integrity Promoting a culture of transparency and accountability Support Providing a welcoming and safe environment Growth Encouraging continuous development Excellence Consistently delivering a high quality experience

Main Activities The House athieve8 th8 above rnission in the following ways. Affordable Accommodatlon- The prirKipal 8¢liwty ix thè prNS￿n of affordable accOMn￿8Ii0n lor overseas and UK students. In 201￿20 the House was'hom8 from IMJme' Iof over 275 residonts from over 80 diffe￿nI coun1rf93. Indudlng UK nationals, The studen￿ tY￿CallY stay at ISH and study at on8 01 tha nearby universitiés at aither undergraduate or F)8tgr8du8t8 lgvel. ISH al80 promdes a small numbpr of llats for students wlth dèpendants. Scholarshlp Programme - The Hou80 rung a Schol8YBhip Programffle In p8rtnershlp vAth loca unlv8r8itio8. In thi8 pfoofomme ISH provides free or d18¢0unl8d accommodation and tht unlvgrslty partner wa+ve8 Cf r&Juces their lutbon fees. In 2019.20, 102 Bcholarn from 42 dlfferent countrios b8ndite(I from th18 provl810n. Events - The Ho￿• provid￿ 80cI81 wentg which are delivered free or 8t 8 8ub81di8ed c08ts to re8laents and mgmbeTS. An Event8 t08m ol thre8 staff run the ISH Travel Club Bnij ho$1 a¢tivltl8S 8uch ay them￿￿ supperg, cullure nlghts, and support 8tudant-led events wch as con¢0rt8 and inl8mgtlong1 fllm night8. Promotion of international friendship- ISH haB an 8Ctlve alumnl a880clatth called Goal¥ Inlomauonal, and is proud of the fact that a larga number of Btudent3 h8ve m8d Ilfelong lriend3hipB durtng the tlm they 81oyed In the House, and subsequently vthan they became alumni. Go•tG' a￿l￿tieS are funded by ISH. Public Beneflt Test The Govemors ha￿ tak8n due r8gaTd lo the pro￿$10n$ of tho 2011 Ch8ritl88 Ad that requi￿ ch8rltk88 to provo thal thay dellver public b8nali19. Internation81 Students Hou88, thro￿￿h the fvNllment ol It8 oblecllve8, pwdo9 a wlda publlc benelll. Re8i¢&nts rettsm to thglr fvjme nJlk)n8 wilh a broadengd pwspaclfve of the world and ar& 8qulpp8d with skllls ￿4¢h boneflt thelr homelands. The ISH Scholar5hlp Progr8mme, In p8rtnor9hlp wllh 20 London unlver8itl88 and Bcademlc partner8 provid&d 8ccommodatlon and tuition fee grants to OV8rs&as 8lud8nt8 who would not other%%i8e have the opportunity to gain a UK qualwlcauon. The number ol unlversity and academic partners incre888d frorn 15 in 2018-19 to 20 in 201￿20, broadening the r8Bch of th8 programma across London. The jolnl provision from ISH and Rs univerwtyl a¢ad•mic Partners amounted to 8K¥Jroxlrnotely to a toial 01 £3.14rn In 2019-2012018-19.. £3.18ml. or the £3.14m. £2.04m related to luition fe8 granti 8ttrfbut8d by the univergitw arKI ac8d8mic partnar8. aTrJ £1.1m relatod lo ¢crtmodolion grants attrfbuted by ISH to the 102 scholarn12018-19.' 108 scholars). Sotyal event8 and w8KAro support are doliverwj fw ol charge lor 8t cosll to residents 8nd m8mb8rs. In this way, 0￿r$￿a5 gtudents do not feel 81ienated by a cullurn, are able to Quickly g&tUg in, adapt to lrfe In the UK and mak8 new lriend5. Overse8s slud8nts Are 8 kay component of the Lr￿dOn and UK ecoTh)my aThJ Intemalional Student5 House offers $u¢h stud8nts affordable accommodation. ISH also p￿￿deS OPPOrtunityey for the Integrollon of oveTreas St￿lents wsth UK 8tud8nts.

In gddhlon to 8UPPOrting students. ISH contrftrxrte8 to th& r￿MunIty and the Borough by hosting an annual Chrfstmas Luneh for 8round 120 Senior Citizens who usa d8y cèntrè8 or8re in sheltered housing in the local srea. The lunch takes placè on a S8IuTday in December and is free of charg6 to 811 those attending. ISH sludenls volunteerto serve th• forx1 #nd a¥5191 with the entertainmant, anabliry in18rcultur81 and intorgeneratsonal engagement. This populAr event foylers positive feelings towards tha Hous8 amon9 our 3enior nèightx)urg, who may b6 faelkng part￿Cul￿rIY isdated over Ihe festive period. For mAny of tho attende88. It 18 a hlghllght of th& yeai. and p081bvg fogdback 1$ alwa￿ reeeived. How we measure success Student Experlence - ISH partlcipal88 In the Natlonal Sludent Housing Survey, whSch rnea8uras rag5dants' satlgfacuon wlth the 8¢commodaUon, services ond the variety Of swial 8cU¥ttles provlded by ISH. Att8nd8nc8 at 80clal events 1$ monitored throughout lh8 year and wular f88db8ck on events and 88NIc88 at ISH In g8nar8118 8wghl vla Rg5Sderht Ad￿￿OrB IRABI at fOrtn￿hl1Y RA meollng8 8nd lermly Student Manogement Committee m801Sw8. The affordablllty of ISH- Thl81g mgoeure(l each year vthen 8etllng our g¢comrrYJd811on fee8, through market research on compatltor London midern. Students are a180 asked about their Fefcopts'on of value lor money In the Na￿onal Student Housing Survoy. Scholarshlps - The 8iicces8 ol ihg 8cholgrshlp prcgr8mm8 Is measured In terms of tha numb9r of 8chol8rn r&8idonl in the House. the numbar of gchol8r8hip p8rtners who assist wSlh iulJon f88 9UPPOrt, 8nd Ihrou9h an annuol mnitoring ax&rcO8e lèd by the Dean of Studènt Llfo wh6ro an academlc report Is recelved from each 8cholarfB tutor. Alumni . Swxe98 in alumnl reL8￿on$ lalumnl angag8mgnll18 mèasured by Ihe wealth of Inlomiatlon hold on Ihe glumni d8labo8e agalnsl each IndI￿dUal racord, gtt8nd¥n¢o at alumnl eventy. rata of 8roag8mant dlg1181 ¢ommvnlcation8. fundraislng Ino)mg and glftB In ￿nd.

YYYYYYYYYY YYYYYYYYYY YYYYY YYYYY YY YY YY YY YYYYYYYYYY o YYYYYYYYYY YYYYYYYYYY YYYYYYYYYY YY Increase In Soclal Medla Like and Follows 102 YY Number of Scholars in House 315 Number ol slud8nt8 who bgn8*'tted from ISH'S travel club £2.04m Total expenditure on scholarships 54 Number of Hardshlp funds distributed

Strategic Report ISH'S buslne95 8traleqy 15 8ummari8ed in the followlnq 8pnlenee 'To provide an affordable homg.from-homg lor International and UK students, supported by a gubatont181 scholar8hlp I bursary progr8mmtr to give opp)rtunitie8 to morè disadvanlag8d students, and ffjinforced by a soclal and culiural prcgramm8 to 8ncour8ge inlemational frieThJshlp8.' In 201￿20 ISH 8dju8t8¢Y thè medium term bu8irwJs sirategy agroad in o8dy 2017 in the I￿hL of the sale of the property at York Taffacè Ea81 and th8 consequent1068 of bad spac8S 8s w811 as thè ￿nt pand8mlc. Tha orfginal pl8n was to Incre899 the number of 8cholarshlp8 to 250 and the numberof bfjd 8POC89 to 1,orJ) by 2025. The prokction8 for 2021-2024 havg bggn Is￿8¢{1 ¢Jown. Thè strateg olm of br￿reas￿r& bed Spo￿ and gcholarBhips very much rom8in8 a rnediurn torm objectfve and ISH 18 looklng to acquire a property or propor￿84 to 8UPPOrt th18. Th8 kèy polnts rdaiing to tho Charttab￿ m1881on Bro C￿111￿8￿ below.. 11) To devolop ihe residentlal 8¢hol8rJhip prOgr8rnn￿ to a8818l students frorn l1n8￿1811Y thall•n9ed background8. The scholarshlp l•v81 ￿11 b& m8lntalned al 23% a8 a proF)rlcffi of thg total number of rg$ldents In the House. 111) To 8n8um g g8ographl¢81ty and academlcally dlver88 W911 bal8nc4d residenllal sludonl ￿mMUnItY vAth lh8 alm of hawng up to 20% of tha total 8tudént numbers Irfhm Iho UK. 11111 To 8n8ur8 th81 our rosldentlal le08 ar8 compailuve with central London 8tudent halls fe88. Ilvl To Increa88 the dlver81ty and varfely of ￿nIS and ac1¥Al￿9 to maat tha changing need8 of ow residentlal and non-residentSal communily 8nd f8cilitale integration ol diff8ffjnt natlonalilie8. Iv) To conllnue to provide servlcej to 8X-8bJdents ihrough tha alumni 888oc18Ion and keep them orvJagod %￿lh th8 Hou89. Th8 dlrector8 have had regord to th¢ m8ttèr8 8Ot out in Sectlon 172IIX81 to If) when performiroJ their dutS8s under 88ction 172.

Achievements & Performance The Student Experience ISH'S Nab'onal Sludenl Hou$ing SuNoy re9ults give Usoful dala on the stud8nl eX￿￿ene8 And the Impacl that lrfe 81 ISH h85 on Its ￿sIdents.. Sn 2019-20 we this 18 where most Comments were received. Flr¥l, participants were 85ked Wal Imp8Ct ha5 the COVID-19 outbreok had on your ¢xpariance In your att¢mmodationV Most cf the comments received r8C8iV8d an overall approval rating of 98% 01 rèspondènts sawng that their levelB of 8ali8f8cUon w8re knry good" good" or"OK" Thls 18 hlgher than lh& scorn given lor London private hall8193%1. with LoThJon Unlvor51ty HaN8 lower down th& scala al ￿$t 82% $8ti8fac¢Son, When 88kgd about indivldual wor8 poslbve, wlth sC￿e example8 oiven below.. "Due lo the outb￿ak lh& students 8r8 8blè to com tog8lhor as 8 108m connect tog8thgr lo support each ¢her ￿11 wllh support of8ccomm0d8tM￿ staff ct%￿p181eIy. So its 8 good experience." 8spe¢ts of thoir aC￿MM0dat10n, ISH residents gave hlgh mark8 to travel tlme io place of 8tudy 8nd local amenhla8199% posltlvel, ytudent Care and 8UPWrt, ￿la￿onShIpS ¥%4ih 0th8r students, mail h8rKlling, Inlemel, and opportunllS8u for s(￿491 Inleractlon. .1 have lelt very lucky lo have this plaG8 to $p8ndth8 58viw$ l(xkLYown bse8us8 w8 havè many tsdlille8 andyou Con 1991 os a famlly, you can 1801 they 8rg not g￿ng to 8bandon you or sornelhinq Ilke th8t. It h88 bo&n 8 really powwfvl experl8nG8 vknl¢h m8kg you reflecl on the ItKky place are ￿9ndIrt9 th￿ lockdown,. Her8 8re some ol the many positive commentB received in the survey. "I really enjO￿￿d living 81 ISH 8ftd fell Ih811t h88 boen a prtvtsge lo do so." Th 8¢cond que•llon was Is there anything that yo 1881 your acccrfnmodatlon team ¢ould bè d￿n0 to better 8UPPOrt you Idurtnq the COVID oulbffjakl?" and agaln we received rrKJ8¢ty po$itiv8 and cons1wc￿¥8 leedb8¢k.. "I hgve IhDroughly enjoyed my tlme 81 ISH 8nd l am happy I chose to live he￿. Thgylo vrt)ndgrful,' thoy do whal thoy can do, and Ih8y h8Vg 8 98nuing pgrsonal Inter88t in ow wellbeing. I'm gratefvl forÉhal,' .1 have no complaints, only a lol ofgrats'tude for811 th• moa$urns thèy took to look after all the resid8nls' phyS￿81/￿0dIlY h&8lth as w81188 mental health. Keep In thlg exceF4ional yoar, the 8uNey had Iwo addltional free text COVID-relgted oy&811on8 an(J

Achievements & Performance Affordable Ac¢ommodation Each yeBr, ISH conducts 8 market ￿SearCh assessment of the Tr￿￿1 student accomrnodatlon m8rk8t b8for8 $8tt1r¥J the renl increasas for lh8 forthcoming year. As part ol thls process ISH aims to wsition ltsaw to be on o Parwilh loc81 university halls of resldence. The 81udent view of the affordabllity of the 8ccommodation was tested in Spring 2020 In the Nabonal Student Hsjjslng Survtry, which benchmaths ISH again8t local unN8r8ily h8llB and local private halls. Rgjpondenls were asked to r8t8 thè o¥érall value for rrKJngy of ISH.. 2020, 76% of survey rgBpondent5 88kJ ISH'S value lor Man￿1￿.goOd. or'v•ry good" compared lolus170% in London Pri￿t& Halls. Events and Travel Club Our Student evantg and trav81 ¢lub acllvlty w88 rnduced Irom March 2020 onward8. due to th8 COVID.19 pandanlc lockdcjwn and the departure ol many r88ldents. ￿￿11￿ thlB, ISH'S events were vlewed extremely p0s￿ve1Y by resldent$ who r83wnded to the guThey, vAth 81% of r88pondents saying that thè 80cial aelivilies were.very 900d" (compared to 73•h sn thè p￿ViouS yearl. Tho number ol Travol Club parU¢lpants up untll Morch 2020 w88 315, ml¥ of ISH resldents and non-reBident mernbers taklng part In each lrfp and qlving con3i8t&nUy positive 1geL1bg¢k about the opportunlty to moke new lrfends and the triPB' valu8 for mon•y. Measurlng the impact on the scholars The Dean of Student Lrfe conducls an Bnnual mld.year monllodno 8xere48e wllh each scholar to A89889 th8lr general progrnss both 8¢8dernically ond 80clally. A raport from their place of study18 olso r8c8iv8d 81 this tim&, Common them88 Ih9t emerged in the 2019-20 monltorlng 8x8rcl8a wor& ht)w ISH provld08 8cholar8 vAth 9 8an80 of community and homa. ISH'S ￿nVenIent central loc8ion and the benefits of havlng free breakfast and gomg ¢ag981 a free addlilonal maal. In gdditlon, ￿holarS cornmenlod on the lasb.ng lriend$hips they had made aB well as how Ihoy had grown p8rsonally and in thair undor8t8ndlng of othar culturgs And ￿r$p8￿Ve8. In Sum, having scholarship was a once in a IIIBtSmo opportunity.. 'Hevlng 8 rgsldgnrg at ISH gave me the opportunlty of aXPWFenang a real sludontllfe, whlch A$ $om&lhtn9 1 ngver tr￿d belom sNn¢$ I w8¥ always eilhorliving alon• or ¥vith myp*enl$. 11 gave m8 Iho ch8nc8 to livg in on onri¢hin9 internalional communlty 9nd lo learn in-depth ebout dlfferenl culliire8. I leelprivileged to be en ISH scholw al￿ to benefit from all Ihg soual arjd cultural evenls you are orgsnizlng. I fe81 secure and at home hgro'lchavgning J¢holar, Tunls181. 'LAving 81 ISH hes bo•n 8n 8b8olule bl&$•ng. met and formed dggp fri8nd$hffp8 willj Ihe most wonderful students here, 8nd been pushad to r84PJink IKPW 1 $8e Ihe world in many ways. I hope that these gxporlgllGgS 11 irrfom7 mypr8G¢ico as a physlcian in the futuro and bwll allow mg to bgttgr s8Na pAti6nls from drfferent backgmunds'(SOAS Scholaf, USAI.

Achievements & Performance Alumni Th$ proiaci to reconflgure the existing Alumni datab88e, Impro￿ ￿￿1&onality and build the inbJration to the student rÈeord8 System, has been cornpleted. The aim of thi8 pr0￿cl was to create a datab88e environment that could bettor support a strategic dwJital approach to ￿umn1 Rèlations. The number of contactable alumni ha8 incroa$ed from lust over 1(N)O lo over 4,000 a8 detsiled in th8 new prIVa￿ policy vthich now comprehen&iv8ty 89crlbes alumni data handliw at ISH. The'Ro8e Fung Memorf818tholBrnhip' is g new ISH gccomfflodation scholarshlp lo be awgrded Irom 2020121. lunded by alumna W8ndy Fung. a IotYJ-time friand and 8UPPOrter ol ISH. Thli Inlb'8lr¥a commèmorat•s Wendy. nKJther. 8n¢ wa are most gralelul to Wendy lor her very generous sUPPOrt. An C￿lIne d￿atIOn port8118 now avalleble on Ihg ISH w&b81te to 8UPPOrt thg COVID-19 HardBhlp appeal In r8gpon88 to the imp8¢t oftha pand8mi¢ on 8tud8nt8. Th& 8nnu81 magazln8 wa8 r8branded to rollecl grealer coh$sion wlth th8 main ISH brand. The desvJn waB brouohl In hou89 and the content W8$ 988r8tJ tOW8rdg a more unNlgd fgpre6ent8tlon of the Btudent and alumnl exp$rfe￿s. Tho rnagazino wa8 di8tr11wtod dIa￿llY lor the Ilrsl Ime In a consciouy Bffcft to b8 envlronm&nt811y frfgndly, drfvg d￿11￿1 engagement and rsduca prlntiw arrtl dl8trfbution (y)sis. Print copl8B aro 8vailablo on requ￿1. Tho compl&tlon of the'Goat8 Flat, relurbishrnent w•$ celebr•t•d wllh a faitlvo gathertThg of London alumnl in Oecernber 2019. The evenl w8$ wall attandod. Acknowledgments The House gratefully acknowledges the 8UPKJrt ol th& lollv•Ano partn8r8, wIth￿l whom the 8cholar8hlp prcgrammo WOU￿ not have been so succ883ful', IntsmaUon81 Studonts Tru8t provided a bursary grant of £150.000 Our colerfng contractorn 8axter Storey. vjho provid8iJ g addl11c￿81 maal avary day lor 40 of the 102 8¢PKJlar8

The following academic partners who waived I discounted luilion feg8'. INSTITUTION I ORGANISATION No. of scholars THE SCHOOL OF ORIENTAL AND AFRICAN STUDIES 14 UNIVERSITY OF WESTMINSTER 10 LONDON SCHOOL OF HYGIENE & TROPICAL MEDECINE ROYAL ACADEMY OF MUSIC ISH SCINDIAI SKV SCHOLARSHIPS LONDON METROPOLITAN UNIVERSITY KARTA INITIATIVE COUNCIL FOR AT-RISK ACADEMICS ICARAI UNIVERSITY OF THE ARTS ROYAL COLLEGE OF MUSIC UCL. INSTITUTE OF EDUCATION UCL. UNITED WORLD COLLEGES CHEVENING BIRK8ECK UCL, INSTITUTE OF GLOBAL HEALTH LONDON SCHOOL OF ECONOMICS LONDON INSTITUTE OF BANKING AND FINANCE RICHMOND, THE AMERICAN UNIVERSITY IN LONDON WINDLE TRUST INTERNATIONAL MARSHALL AID COMMEMORATION COMMISSION IMPERIAL COLLEGE LONDON GRAND TOTAL 102

Financial & Investment Review Financially slgnificant events Th8 House extended the lease of Wills Hou8e18dioining 229 Great Portland Street, IGPSII in December 2016, for a COn81der8tion of £2.7m. The le￿8 will expire In 140 yaars, time on 28 December 2158, and negotiations ore on- goino ￿th The Crovm EBtate to renew the1888e at 229 Grnat Portland Slred slle 80 that bolh kasas w511 tarnilnate concurnnuy. The 8819 of prop8rt1gs on York Terrace East IYTEI w88 ¢oryJlete(J on 12 Febn￿ry 2020 wth Ihè finAI In9t8lment of £30m p8111 by Ihe tJyors on thal date, wrth 8 total of £58m rocalvod for the sale. The fund8 r8c8lved ￿re trdn8farred difectty to the investment portfolio and 8et 8$lde, 98 o deslgnated re8erve, for thB purpoga of 88curlng naw property or properti8s f￿ th• House. Cushman & Wakefield werè appointed a8 PrO￿rtY consuliantg to aS8i3t ISH to secure a new prop8rty In ord8r to replAca Ihe 260 b&J space8 8nd 47 flals th81 havg been lost with the sale of the YTE propertig$. The mogt slgnlficant event affecb'ng ISH w88 thè COVID-19 pondernic. From 16 March 2020, all commerclal A￿lIa8, whlch Include ihe confererKe vwu08, Ilvfr gvents gnd coffee house had 10 Stop. Ovar 60% 01 Iho residenty retumed home 81 Ihet polnt but others could not due lo the cancellaUon of comm8rcl81 fllght8 and bord•r resin'ction3. Fa¢od wlth tha88 unpr8cedented challengeB, the locus of the Hou8e w88 to ensure the heblth and Ilb8lng of the remalnlro re81dent8 and staff Wo￿n9 on-8118 work 10 8UPPOrt Ihe resldenls. All *ècurfty and cleaniry reglm88 were Increased and an Emergency Re$pon8è Taam IERTI wa8 regularty convened. Thgro W08 no major outbrgak of the ￿r￿S In th¢ Hou80 durirvJ th9 Pgrlod. ISH wlBler•d for the Corolla￿￿￿1 Job Relenlion sche￿ #nd o¥•r tha slx months, perlod, on average 50% of the lot81 Staff was on furtough. The grant for the 8¢hème ae¢ouMed lor In the Income and Expendlture 8t8tém8nt for Ihe yo8r. Inconw $treams were severely impbcted. Ythil& &xpendhur8 on w8War8 increa8ed. The Govamorg worked vAth tha manggement team to millgal$ tho fin8nci81 Impact of the pandemic and to en8uro ¢he longor term 8Ugtainabllity of the House, whll& en8urlng its abllty to ochleve rtB charIta￿e obledvo8. The mark¥t ¢f88h in Marth 2020 had a negative imp￿1 on tho in￿StM￿nI portfollo, though the PDslJon 8ub8equ8ndy r8covar8d by 30 Septsmbor 2020, Inveslmont in¢omo f911 by 39% compared lo 2018-19 %%4th many ¢OrnP8nl8s ¢ancalllro dlvldend payments in the year. The charitable don8tion from 1ST amounting to £4,473k was completed on 30 Septgmber 2020. The TeBtrfction8 IrnpoB8d on the charitablo (l)nalon are Ilsied In the ToseNes note (Page 131 General financial performance Tgkiro into account the charilablo donalon from 1ST of £4.473k. th8 over811 position of th8 Hou8e W88 o surplus of £143k12018-19'. £8,813k defiritl. The total volu6 01 unrestricted funds lincluding designat¥d funds) was £78,131k 12018-19.. £82,477kl and the tot81 v81u8 of ragtricted funds grew to £5,084k12018-19.. £595kl.

Considthing the challer%Jeg faced by the Housè in the y88r. the gener81 financial perfomiance for th8 year was salisfaciory bul 51gnrf￿anUY d¢yMI on the pre￿OuS year. Nol OperatirYJ Expenditure for 2019-20 was £2.270k corryjared to £584k Operating In¢omo in the previou8 fin8ncial year. InC￿ne from trading 8diMlie8, chants￿0 activitles and investmont9 wèrè 811 badly affected by the pandemic. Conf8rence income, togèthar with sales and r8venue from venues fall by 47%. Incoma Irom ¢h8riLable actiwtles In¢om8 fell by 46%, reflec￿ng 91099 of rent81 incorne from YTE and the numbef ol ￿SIdentS in the Hous once the p8ndomi¢ began. The number ol scholarghlps awgrded for 2019-2011021 wag ￿ same as In 2018-19 th&reby limlting th8 amount of bed Spaces avaSIa￿a for paylng r8sldonl8. Th& wholesale refu￿lsh￿•nt programme of GPS and WIIIB House ihat ISH began In 2017.1818 8xwcl8d lo tr Com￿￿19d in June 2021. Capital expendStur8 in 2019-20 w88 £2,603k12018-19- £2,566kl wSth th&18rg8Bt itgrn boiro the room¥ renovauon in GPS. Tha rgnovauon pmgr8mme ￿ntInUed durfng lh8 IoL*down, ta￿ng gdv8ntsge of thg low C￿cUpancY In tho H￿se and adherlng to Safety and 98curfty mea3ure8, Other capital in 2019.20 included the b89emènl firè4oors replarAffent and tho exiemal window8 upgrade on the GPS slde of th8 property. These investff￿n1B ￿11 onhancg our proviglon lo T8￿dents In future wr8. Fundraising ISH Taised £25k In the ya9r ¢ompaffjd lo £58k in 2018-19. The m8Jorlly ol thi8 wa$ re¢•ved from former staff, alurmi and foundatlons to 8UPPOrt tha ISH ￿holar8hIp prograrnmo. Th8ro w8$ 8180 g COVID-19 hardshlp appeal Inillative to 8UPPOrt the many 8ludgn¢s who found thèm88lve$ In flnanclal d41ficulty 88 8 r88uIt of the p8ndernSc. Investments Following the donatlon of IST'6 ¥8$ets lo ISH, a new ISH Investment Commlttee wa6 ￿ated wbth delegated 8uthorlty from Iha ISH Board of Govemors to ovor8eg the Inv981ment portfolio wlth Quilter Chevlot, who havg bogn tha (J18crgtionary Inve8lmenl managers of ISH 81nco October 2017. The invgsimont portfolkJ'8 market value at the end 012019-20 was £72.5m12018-19.. £40.6ml. The portldlo Increase w89 malnly due to the £30m receipt followiThJ tha cornpl8tl￿ ol the Sale cl the YTE properties and th8 charitable donolion r&celpt of £4.5m from 1ST. all of which are now includgd In th& inv08tmenl portfollo. Thè overydll reallsed and unreallsed108s89 for the yearwas £2,08Ok12018.19.' £1,614k goln8 8rKI 8 4.3% yield). The Inv8stm8ntS 8re strongly diversffied, wth inv&stm8nts 8 r8nge ol asset classes including UK 8qull88, ov¥r8e¥$ 8quIt￿$, Commercial propety and infrastructure fun(ts. priv819 equity and bonds. Scholarshlp Funds Due to the ch8rilablg don3li¢)n from 1ST, the value of the 8chd8rshSps funt18 Iboth Te8trided and designat8d funds) In¢￿aSed in valu8 Irom £3,413k to £7.719k ¢JJring the year.

Environmental, Social and Corporate Governance IESG) Policy In AugU512020, th& Trustees approved a new ESG ￿lIcY as ￿11 as an Ethical Inveslmènt policy. ISH is comrnitted to being 8 responslblo invostor across its investrnents The new ESG p(Aicy sets outs a fundamental guiding p￿.￿￿pIe that Quilter Ch8ViOt must apply inv981menl criteria b880d on ESG Standards. Duilro the regular Teview meetings wilh the investment manager, the appllc8tlon of ESG pollcles In makiThJ investment dery'810n Is consldored. Ethlcal Investment Policy Statement In Awu8l 2020, Ihg TruBtee8 4r88d th8t ISH do&s not Apply an ￿ra11 ethical exclusionary policy to its <JoalirtgS vmh its 818keholder8, There IB Ih8r&foré no exlstlng gthkgl framawork for an exclu8lonary lor rx)8itively scr88nadl Investment policy. Should ISH develop such a stance in ihe future. an investmanl ptsliey wlll bs developed to dovetall wlth Ihlg 88 part ol a moro hdist￿ approach. Reserves Policy AB al 30 Septerntéf 2020. th• vglue ol th8 r8strfciod lund5 8tood at £5,084k and the value of the d88lgnatsd lundg W88 £61.235k. In 2018.19 the Tru8te86 of ISH created ts¥o de8ignat•d lur#J8, In Bddltlon to th8 8Xi8tlng schol8rBhlp progr8mm& deslgnaled roservè, In lina with thè obWv88 ol the Charily. 0••19nat•d r•Mr4•• for prop•rty •cqul•ltlon and d•￿lOpM•￿t- The Ilrnl de81gnaled r8Bervè 1$ lo id8ntify the fun(Js sèt a8kl8 lor proF4rty acquisitions and developments. Tha iA18 of YTE wa• agr88d In September 2016 with the sale completed on 12 February 2020. Th& obpctive of the Board has a￿ayS been to incre88e the numter of bed 8P8ce8 In order lo put ISH back on track to achlovo it8 vlslon. S0t￿ng the funds aBlde doarfy iclantill&8 th9 purpose of th8 funds g8n&rat8d from the 8818 ol YTE, The rauonale lo pul £58rn 88lde w88 b08ed on property valuation in th8 Regents Park vicinlty, aB well a5 fund8 required for any potenti81 development of tho GPS properly. 0••19n¥t•d r•Mrv•# for mlor r•p•lr•- As ISH Ss cuThently undergoing a full refurblshm8nt programme ol its accornmodalion, 3e¢ling 8Bld8 8 d881gnat8d fund will prevent new major repalr and renovation projects impactlThJ on the Iree ￿serVeS ol the Chartty. Thls wll put ISH in a sirong position lo h8ve 8 long-tem rep8lr and ronovAtion plan wlthouLi80pardislng Its charftablg objeciives. Deslgnat•d r•Mrve¥ lor th• •¢hol•r•hlp programm•- The ScholatshSp Fund Is u88d each y68r to provide bursarios to overseas students. The in19nlion is to grow the scholarship funds so thai they are self-sufficient, lo gnsure the perpeluily of scholarships. R••trtct•d rnserve8- The restricted 3cholarship werve8 relet8 to donatlon8 and contrlbution6 m8d8 lo ISH to 8uM)ort our 8chol8rship programmg. The allocai)n 15 based on specrfic Cr￿ten9 agr88d wth thè respective donors. The re5trfctionB Inwsed on Ihe charitsblg donation from 1ST to ISH are as followB'. 1ST Scholarshlp•- For St￿Jent arwmrnodatlon In co118bor8tlon vAth Highar Educatlon (HEI parln6rB.

1ST TrwMI Burnarles- For use by ISH Travel Club, lo ¥upport ISH'S mission to promote globol friendship and Cultural under8tsnding. Th¢ M•ry Tr•v•lyan Fund- To support studgnt8 in hardshlp durtng thalr SI￿dY parknd at Inlemauonal stud￿18 House, G•n•ro1 r•8•r¥v- Out of the £16.896k of genèral reserves. £10.730k Is ts.ed up in tho Charity'3 fixed 898ets and not f￿elY avai18blo. Thl$1gaV•¥ the level of Iree reserves as at 30 SepteTh*)8r 2020 81 £6,188k. The redudon In Iree re8erve8 from £12,320k In 2016-19 to £6.166k In 201￿2013 moirty due to the imp8d of the pandemlc on the incomlng re80urces of ISH. Whll81 lh8 free reserves are sufficienl to cover 10 month8, Worth of operating expenditure, in line wth the ￿geNeS policy. guldanee from Charity Commission Is that ch81itl8s could conslder undèsignating r8s8rveB lo increa88 th8lrfr88 r888Ne8. ISH currentty has designoted r&s6rva$ of £61,235k whl can be ullll$&J 8hould the need arise. The Gov8mor8' vlew 18 that ther8 should be a rea8onabl& 8xpect8lOon th81 thè Charfty ho$ odgquate r&•ourco8 to conbnue in oporatlon81 exlslsn¢¢ lor the lO￿ae0ab1e future and financlal 8tatam&nt8 h8ve thorel¢)re beon wepared on 8 golrvJ ¢oncem 08818.

The breakdown uf Ihv is lulltM¥. R•J•rv FY20 Position FY19 Paxltlon Furth•r Infornlatlon £'Doo £'ooo Funds represented by prDp•rty, plant$ and •quipm•nt RoStrIct￿ •¢holJrBhlp r••rve# 10.730 9,039 The funds Snvgsled In tangible flx8d assets ara not fre8ly available to the charfly and therefore excludèd from the fre6 resetv8s 5,084 595 Funds restricted 10 8cholar8hip fvndlng b8se(I on donors, specification for the use of their donation. Th8se funds are not freely available. The reslricled funds now include funds donated from 1ST. Dgslgnat•d ISH •cholar¥hlp 2.635 fund 2,818 Th& fund Ss designal¢d lo gnsure that ISH can satlsfy Its obllgalions towards ￿h010r$ during the cour8e of Ihdr scholarshlps Following the signbficanl refuTbl8hment programme wbich started - In 2018, funds are ino Sel aside lo cover for fulurg repairs on the works rgcantly completed. Followlng the 98le agreemgnl ol the Buildlng, lunds for property acquisilion and ¢J9vglopments have beon daslgn8led lo ellhgr 8cqulr8 naw accommodallon prop8rti8s or develop existing prop8I98 in order to Increase accommodab'on provlsitsn The free re8erves1ovg1 target Is lo cover 10-18 months of gxpendllure levèl. Thè current position covars more than 10 months of operatlng èxpandlture. Dulgnat•d fvnd¥ for major rnpalri 300 D￿Ignat•0 fund• for prop•rty •¢qui*ltlon and d•v•lopm•nts S8,000 58.000 Fr•• rMoTh1 8,186 12,320 T¢)tsl r•o•rv•• 83,215 83,072

Principal Risks and Uncertainties The Governors CL￿firM that the major risks to whth the Hous8 Is exposed 88 identified by the Govemors are regularly reviewed, and systems have been esiab118hed to mitigate those risks. Tho Govom¢ys reviewed the Risk Register ot their meeting In May 2020, and aoain in October 2020 due lo the COVID-19 pand8mic. and Identiflod slratogles lo Mi￿9￿18 the fc41owing malor areas of risk8'. Global PandemSc- Risk of an cthreak In tha Houga. rf8k •88e88rn8nt mea8ure8 and protocols to 88 w811 88 88888sment of fi'nandal Irryjact. Safaguardlng- studonls ￿th menial health Issues, ri8k cl InfeLtIou8 d18eases. Property. findlng allgm8ts.ve 8cc¢xnmodJUon foll￿ng th8 8ala of propo￿89 81 YLvk Tarrac8 Ea8t and r8new81 of prop8rty ￿88￿9. Extomal ¢ompollUon. Pension Liability The House IB requlred to provlda for and disclose thelr share of any deflcf( reductlon schoma for ychom88 of which they are a mgmber. Tho House Is a conlrSbuling employer of the USS ￿home for whlch the House's esllmatod liablllly for the pension reduetltsn plan Is £51,451. Thg Houso 1$ also 8 conlribuling employer ol the SAUL scheme for which the House's 08limaled Ilabllily for the panslon redvctlon plan15 £88,706. Refer lo note 21 for further detail. Plans for Future periods - Operational The Hou8e h88 a fiv8 lo seven-year mgdlum term strategy lo 2023.25, whlch w88 revlewed by thè Board of Govemors at ils August 2020 mgollng. tsking Into con8ider811on the ongoing pandemlc. Thè op6ralSonal key points are outllnad belo%w. To Incre88e the capaclty of tho chortty. to acquire mok)r freehold OT long-lease residentSal accommodatlon. To upgrade the Bludonl facllStlog and improve the studgnl eXpe￿n¢&. To m8&t our mi88ion by increaslrvJ 8cholarshlps to 23% of ourtotal regldenl$ lev81. or up lo 230 3cholarBhip5 To meet our mission tha p￿S￿on of fr89 breakf881& on weekends lo all our rosSdenls. To balance ihè charfty and commerdal needs by ensurfn9 the commercial acts.vit￿ COm￿ement and gupport our charit8ble aims To maintain ¢108¢ in8tilution81 links with college$ and universitles in London and other key 8t8k8holders.

Structure, governance and management Intemational Students House 15 8 Regi81ered Chwlty IRegi5tr811on number 313S1218nd 8 Company Llmlted by Guarantee (Company ￿giStra￿.0n nurnbèr 7248111. Th& Charitylg governed in line with the MemorAndum and Articles of AsBociation. which w88 upd8t8d IA May 2020. The body responslble for tho manag8rngnt oftho dTrarity 18 the Board of Gov8mors. The Govgmors mast al l&a8t four limes a year. There are up to 12 Govemor8 who 8re elected lor a threfr year perfod as Approved by the existing G￿ernor8. These Governors are dir￿t0[S frx th8 purpo898 of Compani&s Act 2006. The structure of the Board of Govomors and118 8ub committees 18 8hwn b$low. con￿11￿* Cornmrtlo4 18H Gov•m•nc• •tructur•- Board and Commltt• Each sutrTrcommlttee has specific terms of reference and fundon5 delegated by the Board and has a chair. 8180 appointed by the Bo8rd. Formol attendance monitoring arranggments for the Govemors are in place and are monltor&a by the Govemanca and Ncffllnauon Commlttge and the Bogrd ￿ a rogular ba&s. All tha Governors aro dir9Glors of the company and guar8nle8 to conlribLrte £1 in the event of the company wlndSng up. In May 2020, the Board tcok the deusion lo merge Ihg Flnance and General Purpo$g Commill9g and the Audit and Risk Committee under a new Finance and Audit Committee IF8ACI- The new committea was cre818d lo provbde a more efficlgnl and effective man8gemenl of the flnoncial, audit and risks management of IS4. In December 2020. th& Trusleos approvod for the Remunerali¢)n Commitloo lo report Inlo F&AC duo lo strong link with the financAal performance and strat8oy. An Invè51menl Committee was created on 1 October 2020 ￿th del8galed Authority from the Board lo manage the investment ￿tfoliO of ISH with Quilter Cheviol as the discretionary investment managers. In order to ensure that th6 Charfty ha8 the correct 8truclure 10 8chiev8 ambltions and alm8. ISH has adopted the Charfty Govgrnan¢g Codg. Thls code is designed as a lool lo support conts'nuous improvement

and sets out principles and recommended pracl*es. A new Code of Conduct for ISH Govamors wa¥ a180 introduced in earfy 2020. The Governors have had regard lo the need to fostsr the Chwlty's business relationship• with SUPF4iers, students. customers and otheis whlch Is considered when maklng prlncl deci8lon8. Ken Dytor stepped down Os chalr of ISH on 4 F8bTUary 2020 and was f•placed by Glll Hammond, on an inl8rlm basis, on that sJat&. Gill Hammond was subsgqugnlly 8ppoinled as Chalr on 21 May 2020. Ibi E￿. from Bridgehouse Company Secreiafies. is tha Company Sectelary of the House. Shami Nalhoo. Flnancg Dlreclor of ISH, wlll lake ovor from Ibl Eso a8 Company Secretary of the House on 19 March 2021. ISH has an internal audit functlon whkh reports directly to the Finance and Audlt Commltl88. The Govemors wlsh to record Ihelr appreclallon and gratitude for the conlrfbutlon made by tha internal audrt volunlegr, Graham Falrhead, who stepped down from h18 role In December 2020. A search Is currgnlly Unde￿aY lo appolnt the next intemal auditor of the Hou$8.

Refeioiice an(i adiiilnistratlve delalls of th• charity. ils Governors and advlgers CHAIR Glll Hammond {Appolnt•d Ch•lr- 21 May 20201 Ken Dyior ICh8ir- Resigned 4 February 20201 Lord Nicholas Boufne (Appointed Vice Chair on 21 May 20201 Mlchael Carriar Ipok D8 Mlder (Rellred 88 Trustee on 21 May 20201 Julie Coslloy-whlla Ikfam Malhur lan 8arry Prof Al51 Lolvanl Ranjlla Ralan Ind8 Arfffln-8oromand Beatrice L80ng Aldeman John G8rbuti Davld O'Brbn HRH The Princ888 Royal Lord Chartes Fltzroy D8vld LAlng Rosarnund HoThvood.Smart QC Slr John Rllblat Baroness Dlana Wa￿ck ol UnderdSffe Dr Geoffrey Copland CBE Martln Chalkor Ibl E80 {Brldgehou88 Company S•¢relarle81 Roy Roh8ty1 Major John Vaughan Susan Vaughan Mary Mackle Judge Davld Jones Rlchard Porter Slr Nlggl Corrtn9ton Dorolhy Dalton Dalo, Ye8h Soo Mln Andrew Tennanl Slr Graeme Davlos GOVERNORS PATRON PRESIDENT VICE - PRESIOENTS CHIEF EXECUTIVE COMPANY SECRETARY HONORARY FELLOWS Pelor Anwyl Margret Swnley OBE Lord Amir Bhatla Lord Khalld H8meed CBE Teresa Akpeki IAppoinl8d November 20191 Russell Peters Jonathan Day Ipek De Vllder {Apwnl8d Dec8mb8r 2020)

REGISTERED OFFICE I PARK CRESCENT. REGENTS PARIi LONDON. W1BfS 724811 COMPANY LIMITED BY GUARANTEE IN ENGLAND REGISTERED CHARITY NUMBER 313512 COMPANY SECRETARY Bridgehousg Company S￿rela￿e8. S ST. Bd(ie Street, London. EC4A 4AS Bircham Dyson Ball, 50 Broadway, Woslmlnsler, London SW1H OBL SOLICITORS BANKERS Handelsb8nken, 3rd Floor, 86 Jermyn Streal, London SW1Y &JD INVESTMENT MANAGERS Qultter Chevbt Inve81menl Managamenl Sgnator HDUS8, 85 Queen Mclc<l8 Street, London, EC4V 4AB Audilors A rosolutSon to appoint Moore Klngslon Smlth LLP as the companV8 8udilor will bts propo8od al the forthcomlng Board m88tlng. Disc105uro of informatlon to audltors In the case of each of the per80ns who are Governor8 of the company at thè d818 when thls report Wa8 approved.. •0 far as ••ch of the GO￿rnOr* l• aw•r•, th•r• l¥ no r•l•v•nt •udlt Inform•tlon (•• d•fin•d In th• Com￿nI•S Act 2006) ol wttlch th• ¢omp•ny'• audllor• are unawar•,' and •xh of th• Gov•mor• h•• t•k•n all th• St•￿ that h•l•h• ough¢ to h•v• t4k•n a• • Gov•mor to m•k• th•m••lvo• •warè of any relevant •udlt Inforn)atlan •nd to gstsbll•h that Ihe ¢omp•ny'• audltor• ar• awar• ol that InformaUon. This confirmatlon Is glven and should be inlerpreled in accordance wlh thè provislons of $234ZA of the Companies Act 2006 Thls report, and th6 Slralagic Report. wero appioved by the 808rd of Governors and Signed on behalf of the Board on 4th of March 2021 Th Glll Hammond 4 March 2021

Statement of Governors, responsibilities Tho Govèrnors Ilhe directors of International Students House for the Purposes of company law and Trust888 of Inlemalional Students House for tho purposes ol charity law) are responslble for Pfeparlng lh8 Gov8rnors' Report and the financial slalemen15 in accordanca with applicab￿ law and United Kingdom Accounting Slandards IUnlt8d Klngdom G8narally Acceplod Accounling Practs¢e.I Comp8ny law r8qulres Governors lo prepare fin8ncial statornonts for each fin8r￿ls1 year whlch glve a true an fair vièw of the stalg of the affairs of the charitabla comp8ny and the group and of Ihe incoming rg8ourc85 and appllcallon of resources, IncludirvJ th8 Income and exwndilure. of the ¢haritable group lor that perffrj. In praparfng Ih88e fln8nclal slalements, tha Trustees are required to.. 8•l•ct •ult•bl• a¢¢ounllng poll¢1￿ and th•n apply th•m con8l•t•ntly, Ob••r¥• th• m•thod• and prlnclPl￿ In th• Charltl•A SORP; •k• Judg•rn•nts •nd Mtlm•l•o that ar• r•uon•bl• •nd prud•nl: Stat• wh•th•r •ppllcablo UK Accountbng Stsndard• b••n lollaw•d. •ubl•ct to •ny m•t•rl•l d•partur•• dl•cloMd •nd •xpl•ln•d In th• flnan¢lo1 •tat•m•nt•,' Pr•p•r• th• flnanclal •t•t•m•nts on th• golng conc•rn bul• unl••• It l• In•pproprlat• to pr••uffw th th• ¢h•rli•bl• ¢ompany wlll conllnu• In bu•ln•••. The Governors are respon8iblg for keeping proper accounting rocords th91 ￿1￿109? wSth r88sonable accuracy at any lime the flnancial po8lllon of the charS1oble company and enable them to ensure th81 the financlal 81alements comply with the Companies Act 2006. They 8re also responsible for safeguardino the assets of the ¢harilable comp8ny and Ihg group and hence fu taking reasonable steps for lh8 prevonllon and detectic of fraud and other irregularlllgs. In $0 far as Ihe Governor8 are aware.. Th•r• l• no r•l•v•nt audlt Informatlon ol whlch th• ch•rbt•bl• compan￿* audltof l• un•wor•' and Th• Gov•mor• h•w token all •tep• th•t th•y ou9ht to h•v• taken to rnek• th•m••lv•g war• of any r•l•v4nt audlt Infomi•tlon •nd to •8tabllsh thatth• audltorlg w•re of that Informatlon.

Organisational Structure Marbn Chalker Chief Executlve Sharni Nalhoo Finance Dlrector Carol Sut¢liffe Human Rsourc8s & D8v8lopmenl Manager Te$90 Wln Op8rntkJns DireC￿r Dr Shoron Bolton Dean of Studenl Lif The rèmun8rallon bands for the fiv& Senior managgrs eamlng ovar £60k per annum are dls¢bsod In Nota 10 below. P•y pollcy ftr ￿nI￿r •t•ff The Remuneratlon Commltteg18 f(vmed of Govemors. The commSttg9 meets In Novembèr each yaar and approv88 the p8y for senlor stsff. The commltl88 a180 approvos the 8ppllcallon of annu81 bonusos lo staff. frcffl a cappgd b¢)nus pcol vla 8 perfomanctwr8lal8d 8889S8monl. Remunerallon Is assessed aller looklng 81 market rale8 and Sndu81ry bènchmaths, R•l•t•d Entitl•• Inlemallonal Students Hous8 had 8 dosg assotyalk*n with the Ghartty Inlornallonal Slud8nl8 Tru81 IISTI which providad grant and bursary Income to Inlernallonal Students House. 1ST donated all ils assets to ISH on 30 September 2020 and has Since become dumanl. The Chalr ol 1ST has sSncg been appolnled a8 the Chalr ol the new SSH Investment commrtt80. In gddluon, Intern81ional Studen15 Hous8 has a ck)88 888¢xiallon with the oh8rrty Toyol8-Shl Tmelyan Trust ITSTTI which provides grant Income for UK 81udenls studySng In Japan, 8nd Japanese students studying In th8 UK. Th8 House and thè Trust appoSnt 50% of tha Trustees of this charlty. Tha Chlgf Executive of ISH is also Chief Executivg of all Ihg related enblie$ and Ibl Eso. frrm Brldgehouse Company S8cretsrfe¥. is the Company secretary of the House and all the related onlitlos. Inlernallon81 Sludenl8 House ha8 a wholly owngd subsldbary - P8rk Crescent Conferenc8 C8ntre Llmiled IPCCCI. PCCC reported a profit of £9,17312018-19 £220,516) in the year ending 30 September 2020. This amount wlll be paid as a dlslribution to International Students House in 2020.21.

Independent auditor's report to the members of International Students House (A Registerèd Charity and Company Limlted by Guarantee) Independ•nt Audltorf• R•port Oplnlon Wa hav8 audited the finand813tatements of International Students Hou98 for tho year ended 30 September 2020 whl¢h comprise the Group state￿￿1 of Flnandal Act5Vi￿.88, the Group and Parent Chatfjtabla Coryany 8alanc8 Sheets, the Group C8Jh Flow Statsmenl and noles lo the fina￿1￿1 yt8temenl8, Including a sumrnary of &vJnific8nt accounts￿ polie8. Thè linanclal r8POrting framework that h88 b88n appliad in thèir praparation ig appluble18W and Unil&d Kingdom Ac¢ounting Standafds (United Kingtlom Gènerally Accepted Accounting Practice) I￿lUdIng FRS 102 'Th8 Financial Roporting Sl8ndard Appllcable In th& UK and Ireland,. In our oplnlon th• flnanclal •t•t•m•nt•: And falr view of the state of the group'8 and the pornnt chBrftable cornp8ny'8 8ff8lr8 88 8t 30 Sept&mbar 2020 and ol the group's incomiryj r88ourc&s and appllcation of re8our¢e8, in¢ludlng Its In¢ome ond axp8nditurg, for the year then end&d', h8VO t8n prO￿rtY prepared in accordance vhth Unltsd Klngdom Generally Accepted Accounting Practlc8', gnd have teen preparod In accorda￿ wlth the requlrements of the CompJnle8 Act 2008 and thg Cha￿tieS A 2011, 8•11• for oplnlon We conducted our audit In 8ccordance wih Inlemalon2A Sl8ndardg on AudI￿ng IUKI IISA8IUKII and appltsble18W. Our r&spon8ibllitl89 under those sland8rds are lurth8r d85cribgd in the Audltorfs Responsibililies for the Audlt of fin8nel81 statements sectlon of our report. We 8re ind8pondent of the charftablo cornpany in accordanca with ihe thical wulrement8 that8￿ relèvant lo our audlt of tho Ilnancial statements in th8 UK, including the FRC'S Ethi￿1 Standard, and we have fuifilw our othèr &thlc#l r88ponslblliUe8 In occordance wilh IheBe requlrements. We believe thal the audlt evidence ￿ have obtdned Is SLfflclent and 8ppropdale to pro￿18 8 ba819 for our oplnion. Conelu•lon• r•l•tlng to golng cone•m Wg hAve nothlng to Toi)ort In respect of tho followirrfJ m8ltgrs In rnlailon lo which Ihe ISA$ IUKI raqulrg us lo repcrt to you where., the trusts86' use of the going concern baBi8 of accounting in th• preparation of the finanrial statements Is not appropriate.. or the Irustee8 have not di5cIos8d in the finanaal slatemenls any identified mat8rial uncertainties that m8y Cast tsigniflcanl doubl about Ihe group's and parefil charitable o)rnpany'1 ability ID ¢ontlnue to adopt the going

concem ba8is of Accountong for 8 wrM)d of at least tr￿1Ve months f￿M the date wh&n tho fin8nclBI 8taternents are authorised for issue. Ot￿r Infomiat14Jn The other inform8llon compri8es the irfonnation Included In th& annyal ffjport. otherthan the fi'nancial 8tatement8 and our auditorfs r•rAvt th8r80n. Th8 Tru5tee5 are fesponsibl8 for th8 0th8r Information. Ouropinion on the linandal StateTrtsnl8 doo3 not cover th8 olher Infom)otion and. except to Iho extent otheThvi8e explkily 8tatsd In our report. we do not expr858 any fom of o$$urance condu511￿ thereon. In connectlon with our 8udit ol the financial siatoments, our r88ponsibility is to r8Bd lh8 Oth8r Mformalion and, in dolrYJ so, Con￿dar wh8ther th8 Other inlormation 18 materiglly Inconslslont wlth the finan¢l818tsLernentB or ouf kn￿ledge obtaSned In the audit or olh&Msg apFears to be materially misstated. 11 we Sdentfy such m8tarJal Inconsistencie6 OT apparent materfal misststènnts, we are required to dotemiin& whether thofe Is a matsrial rn1881ate￿nt In the finandal 8iatemant8 or a m8téd81 m188t8tem8nt ol th8 other Infomwtlon. If, b88ad on the work wa hevo porforffled, we conduda that there18 g m8lertal MI￿￿¢ement of thi8 other infomwtion, we arg r8qulr8d to report th81 fa￿. Wa have nothing to report In th18 r8g8r(l. Oplnlon• oft oth•r matt•r¥ pr••crlb•d by th• Companlm Act 2006 In our oplnlon, ba￿1 on th8 th undert8k•n In Ihe courne of the audlt.. Ihè inlom)8tion glven In Iho 8trat8glc raport gnd lh• Tw$l•08' annual report ror the flnanclal y8ar for whSth tho lI￿ncLe1 $taternen18 are prep8red18 conslstont whh th8 flnanclal 8talem8nt8'. and the strat8glc report and thg TruBtees' annual report have be8n propar8d In accordance wlth applicablè Itgal requiremonts, Matt•r• on whlth w• ar• requlr•d to r•port by •xcoptlon In tha1Sght of Iho knowwge and underslandiThJ of tho group and parent ch8ritsble cornpany and ilj oniAronmont obiained In Ihg ¢ourso of th? audlt, hav8 Th)I Iden11ff￿ any m8t8rf81 m188taiam¢nt8 In the 8tr8toBlc report or the Tru8teo8' annual r8p)rt. We have nothing to report In r&sp8Ct of thè followng matters where the Companles Act 2(M)6 and the Ch8ri1ieB Act 2011 require us to report io you if, In our cylnion.. the p8renl ch8ntable cornpany has not kept adèquate and sufficient accounting records. or rgtums 8daqual¥ for our audit have not boon rocelvod from bran¢he8 nol visited by UB,. or th8 poront charftabl8 companys financial 8talements a￿ Thjt In agre&ment ￿lIh the 8ccounb.ng recorrjs and retums.. or cgrtain dlsclosures of Tru8t888' r8mun8ration specrfd by law are not made," or

we have not recelved Mll Ihtr 1n1urriw￿U[l dii¢J ￿K￿y11￿lIvIl¥ w¥ rwuii¥ lur uui yudiL Rupon•ibiliti•i af Gawrnor• •• th• Trust••g ￿ ISH As explainod more fully in the Govemors. r8sponBibiliti85 5tst8m8nl 98t out above, Ihe Govemorg I￿0 a￿ 8190 the dlwlors of the charitable cornp8ny for the purpo8e8 of company lawl arg r8sponslblè forthe 8paralion of the fin8ncl81 $tatement9 and for belng satl8Ned thal they give a true afHJ f81r ￿ew, 8nd for $u¢h int8mal contrd 8S th$ Govèmors determine is n8¢859ary to enable the preparation ol financkql statemenls that are fro0 from matarial mls8tatement, ¥thether due to fraud or error. In preparing the fin8ncial 3tatsments, the Govemorn Are responsible for asBe95ing the group and p8ronl ¢h8rit8ble comp8ny'$ ab'lrty to conts'nuè ai 8 golng concem, disclosing, as applicable, matter8 related to gthng concem and U8lng thè going concam basls ol accounting unle88 the Governors 851h8r Intend to Ilquidalo th8 group. or parent ¢h8rflable ￿mpa￿ or lo cease operationg, or have no rea118tlc allem81w but to do 80. Audltor'• r••pon•lbllltl•• for th• audlt of th• Iln•nclo1 gtat•m•nt• We have been appoinlgd 09 8udltor under Ihe Companlos Act 2006 and vectl)n 151 01 th8 Ch8rhl85 Act 2011 and port In 8cconJanc& ¥￿th thoga Act8. Our obJe¢ifves are ￿ oblaln reasonable 08gurgnce About whoth8r ihe Iln8nclal 8tatornents w ¥ dr¥ Ir¥¥ Irum malerfal mlsstatsmènl. whgthèr du8 to Irgud or error, and to Issue an audilorf8 report that includes our o￿n￿on. Re8$on8bl& 88Suran￿68 o hlgh level of assurance, but IB not a gu8rantee that an 8udll conductgd In gccordanc8 with ISA8 IUKI ￿11 alwoyg detect o material mi8stslem8nl when il &xlsts. MisstAtom8nt8 can arlge from Ir8ud or error and are considered maleri8111, indivi(Ju8lly or in 8ggr8gat•, they could rea80nably be expected to inlluence lh• economlc dec181on8 of usef& takgn on Ihe baBls of the39 fin8n¢lal 8tatements. A8 part of an audlt In gccordance wllh ISAS IUKI we èxerci8è prole88ion81 ludo•menl and malntoln prof8881on81 8kfrplic18m throughoui the audtt, We a160'. Identtfy arKJ 888088 tha rlsk8 of materlal Th￿88t￿laMOn( ol the flnanclal Btstemont8, wh￿har dua to fraud or error, ￿&￿9ft and parfomi audlt proc8dure9 r8sp)n81ve to thoBe risks, and oblaln 8ud4¢ gvidgn¢e that18 8uffiugnt and 8ppropri8t¥ to provida A b8818 for our oplnth. The rtsk of not dele¢tsn9 0 materi81 18gtstem8nt result1￿ from fraudlg hlgh8rthan lor one resulting Irorn effor. a8 fraud may Invol￿ colludon, forgery. Intantional onNs8ions, misreprgsontationg, or the overnde of intemal control. Ci)18in an under3tanding of intemal conlrd ￿leVant to the audlt In orderto deBlgn au(Jit pm¢8dur88 Ihal 8r8 appropriate in the cireum818nces, but not for th8 pury)098s of 8xpr0885ng an opinion on (h6 effectiven888 of the aroup 8nd p8rent ¢h8rftablo companvs Intomal conlrol. Ev81u8ts 8ppmprOat8n888 of accounung prAlcl8s u8ed and the reascfiablèn888 ￿ accounllng e8timoteg and r8latad disclosu￿3 made by the Twstees. Concludg on the apKwrialeness of Ihe Tw8t898' U88 01 tho golng concem basL8 cl accounting and, based on the audit eviden￿ obtainsd, whether a matemal uncertainly exists related to events or condition8 that

may east slgnrfic8nt doubt on th8 group ond parent ch8rtsble company's a￿litY to ￿ntinu& as 8 going concem.ll we condudè that a m8ter*al uncertainty 8xist5, W8 are required io draw att6nUon Sn our audltorfs r8POrt to ihe relaied dlsdosurns In the firt$￿1￿ ststements cff, W such dlsdo$uw org inadequate. to modify rwr opinion. Our conclu9ions are basèd on the audil evidence obtaln8d up to the date of our audiiorfs report. However, future evenis or condltlons may Caustr the oroup or parent ch8rftab19 company to C888e lo crntinue 88 a golTrJ concern. Evaluate the overall prasèntation, Structu￿ and contenl of lh8 flnanci81 slalem8nts, includlng th8 disclo8ur8s, and wh8thor the flnan¢i818lai8rnenis iapr888nt the un(1gAylng tran8action6 and event8 In n￿nn81 that 8¢hi8vg8 fair presentation. Obtsin 8ufficienl approprfate audlt evidence r8gardlw¥J the financlal Infomiation of tha 8ntlU&8 or bugln888 O¢tSvltl88 ￿thIn the group to expr09s an o￿nIon on the con80lidJled fi'nancAal 6tstements. We are respon$lble for the direction, Buperv18ion and pgrforrn8n¢¢ of the gnyjp audll. Wa rornain 8018ly r88pon81￿• for our audit r8POrt. W8 ¢ommunkale with th08e chorgad wlth govem8nce w8rdlrYJ, among oth8r m8tt8r8, Ihe p18nned scope and mlng ol tho audl¢ 8nd signrftsnt audlt flndlng8, InCI￿lIng gny 8vJnifKanl deficlencie8 In Intgmol ¢onlrol thal Odentfy durfng our audit. UM of th1• r•port Thi8 report18 madé 801&ly lo the charitable company'8 members. aj a bo¢fy, in accordance wlih Chapter 3 of Part 16 ol the Compania8 Act 2006 and. In rosFeci ol Iho con8011datad flnarrtlal 8tatsrnentB. to Ihe ch8rlly'8 Trugtee$, 98 8 body, In accordance wlth Chaplgr 3 of P8rt 8 of th8 Chadtle8 Act 2011. Our Audlt work h88 been undertakon so that W8 might State to the chgrftabla comp8ny's m#mber8 and Trugtees th089 matt•rs which we are requSred Io Btste to them in an audrtorf5 report and lor no other purpo88. To the lulle8t extent pgmilltad by law, we do not accept or assum reepon61blMly to any party other ttton tho ¢h8rf1able company, the charftsbl8 comp8nY8 m8mb&r8, 8$ a t¥)¢ty. and the charlty8 TrLKStgeg. a8 a body. lor our audit wo￿, th18 report, or for the ownion we have formed. J_A LLP N811 Finlay80n (Senlor Stabjtory Audltorl lor and on behalf of Moore Kinggton Smlth LLP, Staiutory Auditor Devonshiro Hou80, 60 G08wall Road London. EC1M 1AD Date: 10 March 2021

Consolidated Statement of Financial Activities (Incorporating an Income and Expenditure Account for the Year ended 30 September 20201 2020 2019 Unr•itrlet•d D••lqnat•d R￿trIct•￿ Fund• Fund• Fund• Total Total Fund• Fund• £'ooo £'ooo £'ooo £'ooo £'ooo INCOME AND ENOOWMENTS FROM.. Ch8ritst4e Kti%Alleg 1,682 1.3C#J 452 3,124 2,469 821 Other trading actNities l)n8tions and18god•s Investment inrA)rne 14 1,315 175 22 1,576 5,010 68 10 1,654 5,300 2,711 8.925 Totsl In¢omlng R•Boure•• 257 33 expENDITURE ON.. Raising fund8 Charftable activ11168 12,1411 15,0571 17,19al 1131 13571 13701 121 12,1561 15.4141 17,S701 12.7311 15.6101 IB,3411 Tolal R•wurc•• Expondgd 121 Npl Opgroung Incom•llExpondltur•l 12.1881 11131 31 12,2701 584 Not galnlllo••l on Inv••tm•nt 11,9751 1701 1151 12,0601 1,614 Exc•ptlonal G•ln l Lo Don•llon from 1ST 4.473 4,473 N•t Incom•ll•x￿ndltUr•l 141831 11831 4,489 143 18,B131 Tran•f•r b•iwggn fvnd• In thg >••r 131Y)I Not M¢)vgrnonts In Fund• 144631 117 4,489 18,8131 FUND 8ALANCE8 at 1 Octob•r 2019 21,359 61.118 595 83,072 91.885 FUND BALANCES at 30 Sgpternb•r 2020 1Q896 61.235 5,084 83,215 83.072

Consolidated Balance Sheet as at 30 September 2020 Company Registration No. 724811 CO￿OI1da￿d CharFty 2020 2020 £'ooo 2019 2019 Flx•d aM•ts £'ooo £'ooo t'ooo Taryible 8S88t6 Investments 10,730 72,542 83,272 9,039 40.632 49,071 10.730 n,542 83,272 9.039 40.632 49,171 Curr•nt a•¥•ts Stock8 16 24 24 Debtor6 388 30,￿7 4,067 34,998 357 30.832 Cash al bank and in hand 909 1.291 1,271 34.858 Credllor8." amounts lalling due wlthin one year.. N81 cUrr￿t 11.1981 95 11,4801 33.518 11,1851 11.$61} 33,297 Tolal as8ets16s6 rJJrrentlSa￿lItSe8 83,367 83.189 83,358 82,966 Creditor8,' rnnts falllNJ due 8ftw ￿re tha one yeaf Provlsion8 for llabl1iy￿ artd ¢h8rges Not 11521 83.215 11521 83,200 83,072 82.851 Unr••trlctsd: Genar81 Fund Funds for Major Repwr5(￿SIgnat¢d} R88èfyè for Future Purposes I08slgnaladl ISH Scholarshlp Fund IDaslgnalÉdl Ro•¢rkt•d'. 16,8 eco 21.358 300 58.000 2.819 18.887 6Cp) 21.137 20 58,000 2,635 s8,￿0 2,835 2,819 Tot81 Restrkled FundB S.084 595 $95 83,215 83,072 83,206 82,851 Th988 financial 51alements were approvad and 8uthori8ed for 58suo by tho Gov&mor8 on 4th ol March 2021.The 8ccomp8nying notes form part ol th& h'nanci81 st8lernents. No 5eparale SOFA h88 baen w8S8nted for Ihe charity lone, 83 ￿rMitted by sgction 408 of the companie8 Act 2006. The Charfty's IncoTh lor 2019-20 was £8,818k 12018-19.. £6,819KI and mada 8 9urplu8 of £355k12018-19.' def￿￿( of £9,022kl. Signed on t*h8W of the Governors Glll Hammond (Chalr) Lord Nlcholas Boum• IV1¢• Chalr)

Consolidated cash flow statement For the year ended 30 September 2020 2020 2019 £'ooo É'ooo ash flow• from 0￿￿11￿4 Ktlvlll C•gh flo￿ Irorn Inv•stlng actlvltlos Ch•n99 In c•*h and ca•h •qulv•l•nt• In th• roportlthy p•rfod Cash cBsh equlva16nts at 1 October 2019 27,288 129,4581 12.1701 6,239 12.1521 4,087 545 Co•h anil u¥h •qulvahni• at 30 8•pl•mb•r 2020 4,632 Cash and Ca•h ?qulval•nts at 30 S•pteffl￿r con#l•t of.. 2020 2019 £'ooo 1.553 £'ooo 565 C88h Component of Flxed Ass•t$ Invo6tm¢nts INotg 131 CB8h bt bank and In hand 4,067 4,832 Total 2,462

Notes to the cash flow $taternent: year ended 30 Septèmber 2020 Ro¢onclUatlon of Not Incornel(oxpondlttrrel to Net Ca•h Infiowfrom 0￿M￿n9 A￿viti￿5 2020 2019 R•conelllaUon to thango• In rn¥our¢w'. Netincune in the yaar Exceptiond gan Ill￿8) In¥wlment Irthnè £'ooo £'ooo 12.2701 11.851} 131 11,3eQl {21 Int¢wt rw41Vab￿ suThJry Interest paid (Profit￿086 on (JhF¢)8al of flx&18s84ts N8t pMW8￿n8 ch8rged1see nots 181 Dep￿latiCffj c4 t8roSbl6fixed 8888t8 (Incr￿*Y￿aCYe￿e in 8¢ock8 IIrKreaseyd￿rkng in d8btorn Incre￿Il￿re￿wI In cr8d N•t C•th Fxovklgd byl lumd Inl Op•rollng Actlvltt•• 43 912 171 17.615 14681 6.239 30,541 12841 27.288 B. Ca•h fltrw• frrrfn Inw•llng actlvltl•• 2020 £'ooo 1.051 2019 £'ooo 1,360 Invèslrnent inrJ)me recdved Intere8t recelv8d Purehasej of tangiblo fixed B56ets Purchases ol Ilxed 86s81 inv8stm8nts Less sales ol Ilxed ass8t inv951ffl8nts Net Cash provld•d by I lu#•d In) Inv••Wng Jc¢lvltl•• 12.6031 132,7551 4.246 129,4581 12,565} 16.3381 5,369 12,1521 C. Anal￿1¥ ol co•h cash •qulv•l•nts 2020 £'ooo 2019 £'ooo Cash torry)¢Thnt of flxed 85681 Investm8nts Cash In h8nd and at bank 1,553 909 4.067 4,632 Totsl ￿•h and ca•h oqulvalènt• 2.482

Notes to the accounts Company Information Inlemational Stud8nt8 Hou3e 18 8 Regi8lered Charity IReglstrgtIc￿ number 31351218nd a Cornpany Limlted by Guarantee (Company registr81ion number 7248111 incorporaled in England and Waes. The registered office is 1 P8rk Cr8sc8nt. R8genis Park. London. W1 B 1SH. Basis of Preparation Th95e financial st8tèrnent8 hovo baén pr*pared In accordance ￿th FRS 102 The Financial Reports'ng Standbrd appli¢&trJo in thè UK and R8publlc ol Ir818nd' IFRS 1021 and the r8quiremenl& of tha Compani88 Acl 2006. Tho Charftabl8 Company 1$ a publlc benefil company a8 d8flned by FRS 102 and therefore the Chartty also prepgrgd its flnandal 9tatement8 In accordance wlth the Stalelrenl ol Recomm8nded Pr8¢tl¢$ applleabla to charities preparing their accounts in accordance wlth the Finandal R&portlng Standard appllcable in the UK and Republlc ol Ireland IThg FRS 102 Chartties SORPI, the Companios Act 2006 and Iho Charit408 Act 2011. Tho Ilnondol 8totomonts oro proporod In 8terfirrfJ, whlch18 th8 funcllonal ¢urrèncy of tho ¢onyany. Monetary 8mouni8 In these flnancial 8talement8 are rounded lo the n8areBI pound. Thèlè fin8n¢ial 8tatèm8nt8 arg pr9P8r8d on the golng concem basie, under the h18torical cost convention modilled by Ihe T￿￿1vatIon of Invg8tmgnts and In accordanco wlth the Companleg Acl 2CQ6 and appllcablo c¢ounling 8tand8nJs In the Unlt8d KlThJdom. Tha princApal accounting pollcle8, whkh h8v8 been 8pplled ¢ong1gtanlly Ihroughout Ihe year, arn set out b81ow, Going Concorn The Governors have 83888eed whether tho uge ol the golng ¢on¢afn basl818 approwlate and have consldered s81b￿ èvènts or eondltions, IncludSno the Impact ol the COVID-19 pgndemlc on the Ch8rfty'8 aCti￿tIes, Ihat might ¢881 gignillcant doubt on the abllity of the Charity one year from the dat8 of approval of Ihe financial s¢8temonts. In partlcular. Ihe Governors have considered the Charity'8 forecast8 and PTojectlons 8n4 havo taken 8ccount of pres5ure¥ on Accommodation incorne and other trading activities. After rnaking enquiri8S the Govemorg hava ¢L￿dud9d that thare 59 a reaSona￿e expectauon thal the Charity has adequate r950urceB to ¢onlinug in Oporn￿onal exIste￿￿ for the Imse8abl8 fulure. The Charity therofore ¢C￿￿'nueS lo adopt the going concern basL8 In prepartng Its linancial Statorr￿Ls. Group accounts The income and &xpendliure account of the consolidaied operalth only has been pr688nt8d, 88 p8miKt8d by Section 408 of the Comp8nie8 Act 2006.

Incomlng resources Hou86 repregents income rèceived and receivable Irom the provision of AC￿mModatIOn and asstiuatgd servw. IneKJme is recogni8ed in the 8cix)unling Per￿ Wh￿ the person enioyitYJ the accommodalion w88 in residance. Invsstm8nt incom8 rerxesenis the incorne frorn Ihg Snvostm8nt porrfolio And gr8nls from ¢onn&cted trusts represents tho &r￿m8 from the InL8mation81 Student8 Trusl. All incoma originates from wthln th8 United Kingdom. Rosources expended R8gources expended are include(1 in the Ststernent of Financial Actiwlies on an acenJ8ls basis. LSalilitiès are recognised onco th&ra is 8 leg81 or constnKtlve obligation to transfer economlc ban8flt to a thlrd party. It is probable that a transf8r of econ0n￿e b8nonts will be requlred in 5BtUemonl and the amount ol Ihe obllg8tkJn can bo measured rollably. Cert8ln expenditure 18 direclly attributoble to specthe acti￿￿88 and h88 beèn induded ￿ those cost categories. C¢rtain other costs, whlch are attrfbuiable io mora than on8 acilvfty. ar8 apportloned across Cost caiffjorfe8 on tha basis of occJJp8ncy ratè8 b8tsve6n the Charity and 115 subsidiary, ond tho proportlon ol lime 8p&nl by 8toff on tho38 activit168. Investments Inve8tm8nts oro $tatod fjl market value. It18 Ihe Chatlly's pollcy to k88P Vglu8Uon8 UP to dat8 8u¢h th81 when Inv88tmants ar8 80k1 Ihere 18 nts re8118ed galn or loss artslng. A8 8 r&sult, the Statement ol Fin8nclal Activities doei nol dist1￿ul$h b9¢wggn Iho v8lu8tlon 8tJw8tmont8 relating lo sa188 and tho88 r8latlThJ to contlnuod holdlrrfJ8 aB th8y aro iogeihortr•at&J 98 changw In Ihe Investment portfollo throughout the year. Stocks st￿ks a￿ v8lued al the lO￿T of cost and net reallsgblg valug and rep￿$¢nI 9c<Jd8 tor rnsalo, and bar Ilquor stocks. Dèpreciation Oepreciauon pollcy wgs rw18W￿ duriNJ the ￿ar, and 18 calculaled lo write down the cost of ianglble fix8d aB8ets In equal annual Instalmont8 to their esUm818d r8Bldual vglues over the F4rlod of th8lr è8tlmg¢od u80lul economic INe8, which consldered to bo.. Freehold and long leasahold propaty- 50 y88r8 Freehold and leasehold improvam8nts- 10 or 20 yea Fumiiure frtb'ngs and equipmBnt- 5: 8,. or 10 ye81¥ ￿0￿r Vehicle8- 3 years Computer3 I Computer SofhYare- 3 or 10 years An imp8irment revvaw of all tanglble flxed assets of 8lgnKi¢anl valuo 1$ undertaken annualty. IIBMS below £1,0 9g¢h ar8 rottrsatad 88 capiial items.

Financial assets The Charity hai elected to appty the promsions af sedion 11 'Basie Financial Instruments, and Seclion 12'0ther Fln¥n¢i¥l In$trum•nts l$$u•s' of FRS 102 to all of its flnandal instruments. Flnanaal assèts 8r8 facoJnlsad In tha company's siaigrngnt of flnandal po8ition whon the cornpaty becomes party ¢0 Ihe contraclual provisions of the instrumenl. Fin8nrial 8388t8 8re clay8rfied inio 8pe¢llied categori￿. The c1888rflc8fj￿ dep8nd$ on the n8tUfe and purpos8 01 the financial asvets and is delennined at Ihg tim& ol rocogniuon. B8¥lc financial a$89ts aro initially m&asured at lalr value plug tr8nsaCtlon cosls. unless the arraTrJeffenl constitutes a flnancing IransactSon, where the tranBacUon 18 meaBured al the pr88onl valu8 of Ihe future receipts dlscounted al a mathel rate ol Int8reBt. Other Ilnancdal asyel8 das8ffled as fair value through proflt or1088 ar• m8asur8d 81 f81r v8lue. Impairment of fin8nci81 assets Fln8n¢i818S$&ts. othér than thos8 hald Al falr valu8 through proflt and1088. gre 88888sad lor indicators of Impairm¥nt al 98¢h reportlrrfj ond dole, Financlal aB8et8 are Srr¢)alred where there is Obje¢U￿ evidenc& th81. a8 a re8uIt of on8 or more 8vgnt8 that cKcur¥sd 8ftor tho inltlal rscognition ol tha financial 888èt, Ihè &stlm8t8d futur8 c89h 11(M8 hav8 been affected. The Impglmient1088 Is recognl8ed In the 8tolement of flnandgl act￿111&8. Impairment of tanglble and Intanglble assets At e￿h reporting end date, the Ch8rity reviewB thg ¢8rying amounts of 11$ lgngible gnd IntarKJibl8 89sats to detormln8 whether there 1$ any Indlcation that thosè 888ats hav8 suffarèd 8n Impalmient loss. If ony Such indicatlon &xlsts, the recoverable amount of thg a$88t18 estlm8led In ordgr lo d¢lemiin8 the gxtent of th8 Impalrment Ios81 any). WhgQ It 1$ not pos$ible to egtimat& th& recovèrable 8mount of gn Indlvldu81 asset, the Charity estimates the r8cov&rabl8 amount of Ihe cash.gen8ratlng unit to whlch the asset belongs. Intanglble a58et8 Wlth Indellnite u3eful lives and Iniangible assets not yet avallable lor u80 8r& tOgt8d for Imp81rmenl annually, and whenever there iy an lnd1cBt￿n that the as8?t mayb8 Impaired. Rg¢overnblg amount Is the h￿har ol falrvalue ie88 cos18 10 8011 and valuo In usa. In as80ssiThJ value in u8e, the 8Stlrn8t8d futurg cash Iow5 are discounted to their present value using a pre.tax dl8coun( ral8 that réfi8cts curreni mart(el gssessmenis of the ￿'T￿e value of money and the rtsk9 specffic to Ihe asset for which the e81imat08 of future cash flow$ h8ve not been adjust￿. If tho r8cov&rable amount of 8n a88el c88h-generathno unit) 18 o¥timatsd to be less than Its carying amount, Ihg caryirvJ 8mount of the 858et lor ca8h-9gner8ting unit) 18 redwd to Its recoverable Bmount. An Impa5mient loss 18 r8CL¥Jllis8d imm8diatdy in profit or loss, unless the rèlovant assot is carri8d at a ￿Val￿1 amount, in which case the impa1￿8￿l los$ 1$ tr&at*J 88 a revaluation dacraasg.

Rec(NJnlsed impairrnent losses are We￿ed rf. and only if, th8 rè850ns for th8 Impalm￿nt loss have ceas8d io apply. Whera an impairTn8nt loss subsequenuy reversos, Iho carrylng amount ol the a&8et lor ca8h-generdting unltl 1$ incr088ed lo the rovlsed es￿rnate of its rewerable amount, but 80 that the increa80d carrwng amc4Jnt does not ox¢e8d Ihe c8ryirvJ amount thal WOU￿ have been det&mined had no imp8irrnent loss been recwnised for tha asset lor cash-gen8ratiThJ unill pr￿r years. A reversal of an Imp8lmènt10$8 18 roCO3ni8ed immedlately In pmfit or loss, unlass th8 r81gvant 883el 18 carn8d Sn at a rovdued amunl. In thich ca89 the ￿Vernal ofthe impairment I 18 treated a8 a revaluallon Inueaae. Flnancial Liabilities Baslc flnancial Ilablliti8s are Inlilally measured at transactlon prlca. unl098 th• 8rr8ngemenl Cc￿811tUl05 a Ilnanclro tran8actlon, tho debt inslrumonl is measured at the prasenl value of th8 future receipts discounted at a m8rk8t rate of inter88l. 0th8r Iln8ncial li8kn'litie$ clas8ilied as falr value thr￿gh profit or1088 are ffle8¥ured al fair value. Other flnancial liabilitles Cxhgr flnanclo1118blli1198, 8re Inttlally measured at fair valu8, net ol transactlon co8ts. They a￿ gubseouently rneagur8d al amorugèd co81 using the elleclive Interest method, wth Inter&sl &xpgn8e fyco9nlse(l on an eNecllve yleld ba818. Th8 6ff8c1￿a Intere81 method 18 a method of calculollng th$ amorti8¢d cost of a financial liability and o1811ocalng intar8gt 8xwns8 over Ihe relevanl penod. Th8 8ffacllv8 intar•sl rat8 1$ ¢h& r8le that exacuy d18counts eBlmat8d future cagh payments Ihrou9h the exppciod life of the fln8ncio1 Ilablllty ¢0 the nel carylng arrount on inSU81 cognlilon. Loan and recelvable$ Loan8 and othèr rwiv8blas tho1 have fixed or dot8rnilnabl& paymen18 th81 are not quoied In an actlve Ma￿&t arg cla88Wled au'lo8ns and receIv0￿88,. Logn9 and r8c8lv8bles 8re me83ured at amortlgod cost using the effoctiva Int&r&8t mathod. le88 8ny impa1￿￿ent. Interest Is recognlggd by apptylrvJ tho èftec16ve intorèst rato, oxcepl for short-lenn r8ceivable8 when the recognlllon of interest WOLAd be Immolerial. TP¢e effective interesl rnethod is a method of calculating the 8mrtl8ed cost of a det In8trum&nt 8nd of allocating lh& intere81 income over the rolovant perkjd. The gffg¢¢ive inlerest rale is the rate that oxacdy dlscounts 8stim81od luture cash receipts through ￿ gxp8Ct8d Ilfa of th8 dobl In8trumènl to the net carrylTrJ amount on InitSal recognKlon. Pensions Pension payments represent payment$ made to the Universily Superannuation Scheme Limitad IUSS Schemg) lor enior staff and the Suporannualion Arrangam8nls of the University ol London (SAUL Scheme} for other 8tsff.

Th888 payménts ara eharged to the incorr£ and expenditure account in the yoar in which Ihoy fall due. The schemas are contracted-out of the State Eaming3 Related Pgn3ion Schem8. Tho scham&s are valued lomwlly every three years by profe8slonally qU8Irf￿d and Indgpgndant actuarles using IhB projeclgd unit method, Re¥M8W8 of the 8cheme8' posttionN #rt ¢8rried out in Ihe perfod bets￿en valuations. Provisions Tha rrK)venwnt on the provi8ion for the 8xterfor Tedecorntion of the property Is charggd onnuolly to the profit 8nd loss a(xount. Foreign Currèncy Accounting Policy The accounling records 8how8 I￿Illn curnnw bonk ￿OUnt balances at the Sterliro equivalent at the balance sheel date. Operating Lease Policy R&n¢a18 payabl8 wRh rngard to oporatlrKJ18ag88 are Cha￿e￿ agoln8t incom• on a Jlral9hl Ilne b81$ over the pgrlod ol Ihe18a8è. Fund Accountlng Funds held ty the Charity are either., un￿8(rtct8￿ goner81 fund8- IheBe ar8 funds whl¢h Can b8 U88d In 8ccordgnc8 th8 charfiable object8 at lh8 dl8eretknn of Ihe TN81ee8. A￿triCI•￿ lund$- the￿ aro fvnds that Can onty b8 Used lor partlcular purpo3e3 sp8dfied by lh& donor or whgn funds ar8 rAlsod lor partScular purposes wlthln the 014ects of the Chgfity. Unreslrtcted de8ignaled fund$- tha99 lund8 ropregent fund8 whlch have teen geparately de8ign*ed by th¢ Trust885 d th8 Charity, 88 part crf unrastthted funds. Roundlng Policy ArTh)unly shown on th8 flnand818tatsmnl8 arg rounded to the nearest whole pound gterfiFYJ. Critlc81 arxounting eslimale8 and ar083 of Judgom8nt In pr8paring fin8naal statements it ig necessary lo rnake certain judg8rnenls. estimat8s and 888umptions that affect Iha amounts recognlsed In Ihe flnawAal staiernenls. In Ihe view of th& Trustees in applying the accounting pk)licies adopted. nojudgemenl8 were required that hsva 8 signifieant •ffact on thè amounts r8coani8ed in the financial stst8mènts nor do any esbmales or 8ssumptiong made carry 8 Bignrfunt risk of m8t8rial ad￿lS(Ment in the next fina￿81 year.

2020 2019 tooo 2. The oporating surplus is arrived at after charging". Au¢1￿01$. remtsneratkjn Repairs and Maint￿ar Cleaning matort818 and ¢x>ntracts Fuel and kY)W Insurances Depr￿[81￿)n- o%thed assets Provision for exterior redecoration Othar profession81 fee8 18 561 73 181 76 16 604 210 76 846 43 279 912 35 414 Analysls of Charitable Income 2020 £'ooo 2,427 17451 2019 InuJm• from a(￿r￿d91￿)n Gross Inwrne Le85'. Buts8r￿S and Scho18r8hip8 funded by ISH £'Doo 3,807 1683 4,775 Analysls of other trading Income 2020 2019 £'ooo 551 E'OOO 967 Publlc Enl8rtalnm8nl LIc8nc8 & Bar Revenue Conference revenue Contrad Revenue Membershlp Incom MlscAllanoo Trav81 Club revenue Coffee Hous¥ 1￿me 319 146 19 26 21 264 61 11 27 540 2,469 233 1,315 Analysls of donatlons and lfrga¢los 2020 2019 £'ooo 195 £'ooo 175 Grant to fund Bur$8rieJ from Inlematkinal Students Tru81 & Hardship fund¥ Grant to fund Capital w0￿S from Inl8m81ion81 Studgnts Tr￿1 Grant to 8ub8ldI68 Travel Club from Intematk)nal Student8 Tru81 rknnations Rechived Grants r￿alVed frvm HMRC Ch8ri18ble donation Irc￿ IST1588 note 251 320 50 25 411 4,473 5,122 621 Analysls of Invfrstmont income 2020 2019 £'oDo 1,651 £'ooo th'vidends from listed Investments Interest receivabl8 Intèrè8t due to delayed completlon of propèrty 8816 1.349 2,711 1,654

Exceptional Gains and losses The House sold its interest in propertie8 al York Tgrrace Ea818t the end of the 2015-16 financial year.. however, tho selling pric8 was ravised down by £10m in 2018-19 and thè Hous8 incurred £1m in expenditure to 8nsuTe Ihat vacant posse88ion was secured durlng the nogollallon process. All salos and selling expenses relating io th8 re-nggDtialion were taken into these statutory accounts as an exceptional i18m In that year. No furthar axceptional gains or losses occurred In 2019-20 2020 2019 £'ooo £'ooo 1.011 Expendllure Incurred lo dèliver va¢anl possession Reduclion In agreed selllng price of property 10.000 11.011 Expendlture on ralsing funds 2020 2019 £'ooo £'¢)00 Conlerance, bar and other expense8 Inveslment 8xpens8s 1.648 2,493 238 2,156 Expendlture on charltable actlvltSes 2020 2019 £'ooo £'ooo Bur88ries and gr8nl$ payabl Oth8r charitable purp¢)8es èxpen8e8 GovernaneA gxpensas 440 355 4,935 39 5,217 38 5.010 10. Employees 2020 2019 Average number of p•r•ons employ•d by th• charlty and It• subsldSary: Adminislfatlon Sludenl Services Maintenance antl Hou8ekeeplng 34 34 23 20 26 20 77 Employ￿•. ¢o•t• durlng Iho y•4r for th• Charlty and Its subsldlary: 2020 2019 £'ooo £'ooo Wages and salaries Soclal sacurSly costs Other pension costs Inole 221 2,647 2.713 256 270 245 285 3.177

R•muneratlon of hlgher paid staff (senior managomentl, excluding pon$lon Contribution. but Includlng b•nefits in kSnd fèll Into th• followlng bands: 2020 2019 £70.001 - £80.000 £80.001 - £90.CQO £90,001 - £100,000 £120,001- £130.000 £130,001- £140.000 The above five staff members recelved a total of È81k employ&s pension contributions in the year {2018-19- £74k}. The total empbyoe benefits of the charilY8 key monaggmenl personnol ware £599k {2018-19.. £581k). 11 Governors. emoluments No Govemor received any emoluments during the year12018-19- £nlll. Four Govamors daimed a tol81 £497 of travel oxponses during the year. In 2018-19, there were four Governors Claimlng a lotsl of £1,599. 12 Tanglble flxod assots Long l•aehold Fr•ghold & Equlpmgnt Furnlturo and Compirt•r• g4nd FmlKld Prop•rtl•* £￿00 L•a¥ghold prop•rths £￿00 Improv•m•nt• £'ooo Flttlnu• £'ooo E9ulpm•nt £'ooo Totsl £'ooo Co•t'. AI 30 Seplernber 2019 Addillons 5,392 6.948 2,108 1381 9,018 2,144 463 343 16,782 2,603 11311 15.782 12 DlskK)58IB At 30 8•pt•mb?r 2020 le61 2.￿1 1271 328 955 5,392 D•prncl•tlon'. At 30 Septomb8r2019 Charge for the year Dispx)5ds At 30 SepteM￿r 2020 Not book valu•: 2,133 47 2,748 588 1381 3,298 280 6,743 912 19 218 1661 1.474 40 1271 293 11311 7.524 279 2.180 AI 30 Septembèr 2019 3,259 4.200 63 9,039 At 30 S•ptqmb•r 2020 676 3,212 5.720 1.087 35 10.730

13. Fixed Assets Investments 2020 2020 2020 2019 NoTrca•h In¥•8tsnont8 110t￿ on a rocognlBgd •to¢k •xchang0'. Market Value at 30 September 2019 Purchases £'ooo Llltsd £'ooo Oth•r £'ooo Totsl £'ooo Total 40,067 32,755 14,2461 12,0601 66.516 40.067 32,755 14,246 12,0601 60,516 37.503 6.336 15,3B91 1.615 Di8kYJsa18 Nèt Inv8Stmant Goins I (Losses) Mark•t valu9• of ngn.eaxh inv••tmgnt# at 30 S•pt•mb•r 2020 40,067 C8sh held ft)r In￿tr￿￿1t8 Donation Irr￿ 1ST 1,553 1,S53 4,473 565 925 Totsl Inv•*bn•nts 71,617 925 72,542 40,832 £'ooo Ll•t•d 66,717 £'ooo Oth•r 14 £'ooo Total e6,731 Ccffjt at 30 Septwnber 2020 Cost ot 30 SW•nber 2019 35.449 35,449 The portfollo inve8lment8, managod by Int8rnab'on81 Student Tru8t, are Invevled in UK equilie$, ov&r¥g99 gqullie8, commBrcl81 prDperty lunds, 8nd Irackorfund8. Tho Hou$0 h88 Invo6tm8nts lol >1%1 In th8 follcwlr¥J'. Charlttes Property Fund 8.62% Mayfalr ca￿t￿ InveBthwnt Mgrn Lld Pr 6.54% Balllie Glfford & Co Jap8ne8e Incune 2.63% Apple Inc NPV 1.54% Expedan ord Us￿.10 1.51% Ishares 11 Plo GBP Idx+Llnked Gllts U 1.SO% Ishar86 11 Hc 1.48% Astr8z8n8c8 ord USDO.25 1.45% Pirnco Global Athbors Irl Lld Global 1.44% Royal London Sterlin9 Credlt 1.44% 18hareB 111 Flc UK Gilts 0+5Yr UCITS 1.43% Flddity Chlna Speclal Situat￿$ 1.43%

Amazon Inc Com USty).01 1.40% Alllanz Gbbpl Investors GMBH YI 1.34% Aras Management LP Common Shar88 Ltd 1.34% Mlcwft Ce(p Com uSCQ.O￿)O062S 1.31% Flr61 Stata Inv85trnentslUKI Stewart I 1.22% R8ckitt B8nrJ(i58r Group Flc ord GBPO. 1.22% Cgllngx Telecom 1.19% Pdar C8pila Funds Ple Automauon & 1.19% 88lllle Glfford US Gro￿*￿ Trust PIC o 1.13% Visa Inc Com Stk USDO.CQ01 'A' 1.11% Adobe Inc 1.ow Other 54.41% 14 Investment In Subsldlary Intematlonol Students House holds an investment of £1 in Part( Croscenl Conference Centrg LSmited, whlch 1$ a trading company reglBlered In England and Wal08 ￿th company number 04096563. Th18 £1 Inv89tmgnt fgPW8nt8 100% of the ordlnary share c8plt81 of Park Cre8¢gnt Confgren¢e Centre Limlled.

15 Dabtors con￿lIdat•d Charlty 2020 2019 £'ooo 2020 2019 E'OOO £'ooo £'ooo Tr8d8 (Jebic 110 189 102 114 Arnount8 ow by wrcas8ts for salo of promlses 29.824 29,824 Amounts Ow￿ by ￿nneC￿l twts - Toyota-shi Trevelyan Trust Intemallonal Students Tru8t 20 22 20 22 551 551 21 - Mary Trevdyan Fund Amunt owaé ty 8ubsld6ary Olher éeblor8 Prgpaymgnls an(J accruad ￿n￿me 21 10 31 11 31 225 269 224 269 Clo•lng b•l•nu •t 30 S•pt•mb•f 30,907 357 30.832 Provlikn for ¢J)ubtlul <Jebt8 Con•olld•t•d Ch•rfty 2020 2019 2020 2019 £'ooo £'ooo £'ooo £'ooo Opening balance Wri18-of18 to provK8ion Addition lo Prow6ion 14 14 14 14 Clojlng b•l•nc• •130 8¢ptamb•r 14 15 14 As al 30 Soplgmbgr 2020, ther8 wa9 no d&bt12018-19.' £551kl owed to Intomgtion81 Studènt8 Hou88 ty Internatlonal Studgnls Tru81. All d8bt8 wor& 801116d prfor to tho Chants￿9 donation mgdg by 1ST lo ISM on 30 Soplember 2020. As at 30 Seplemt4r 2020, Ihar& w89 no dgbl12018-19.' £35kl to Intematlon81 Slud8nl8 Hou8e by tho Mary Trov8lyan Funtj IMTFI. All debts were 86tt18d prfor to the chariiabb donation made ty 1ST to ISH on 30 s8ptorn￿r 2020 As at 30 Septamter 2019, Ihere was 8 debt of £20k12018-19'. £22kl ¢y•ffjd to Inlgmalional Students House by the Toyoia-shi Trevelyan Tnjst. This debt will ￿ sgtued by a transfer of investmont Assets to Ihg value of £22k in April 2021. 1ST is 8 regist8rsd charity of whloh Mr. John GarbLrti Is the Chalr and Me. Ibi E80. from Brfdgehou2e CompBny Secrgtari8s, is the Company Secretary of this charily. Mary Trav8lyan Fund is a subsidiary cherily of Irrtematio￿I Sludents TnJ$L Both 1ST #nd MTF have donated thoir agsets to ISH on 30 September 2020. Toyola-shl Trevelyan Trust is a registered charity of vthich Gill H8mrnonrJ is the Chairand Ms. Ibi Eyo, from Bridgohouse Company S8cr8t8rf8s. 1$ thg Company S￿l￿ry of this Larity.

Park Cres¢8nt Conference Centre Limited (PCCC Itd.) is 8 trading subsidiary of Intemational Siudgnts HouBa. PCCC Itd 8ndsd th8 finanryal ye8r wth a surplus of £29k {2018-19. £221 kl arKI the prolil wll be paid ag 8 i8tiibution io Intomational Studgnts Hou88 in 2020-21. 16. CredStors: amounts falllng due within ono year Con•olldat•d 2020 2019 Charlty 202Q 2019 E'OOO £'ooo £'ooo £'ooo Trade c¥ei*lor8 277 276 282 272 A￿￿nI owed to 8ubsldlary Qlh¥r tsxation 8nd 8wal 88curlty Olher cr8ditor A¢wolB and deferre¢J Incoma 48 56 63 63 337 491 491 528 650 525 Clo•lnq ￿lIne• at 30 S•pt•rnb•r 1,1•6 1,185 1,561 17. Provlslons for Ilabllltles and charg95 Con•olldai•d 2020 2019 Pro%rf•lon ft¥r Il•bllltl•• and charg•9'. At 30 Septhter 2019 Pffjwdad during the year E¥pendbturn incurrwl dudng the ye £'ooo £'ooo 74 43 At 30 S•ptsmbor 2020 152

Unoerthe tsm)g ol Its lease wAh the Crown E¥tdte, Inl¥mL4ts'uiiL41 SIuLltkiii¥ Huus¥ i¥ ublu¥d iu Iiwiii(aii) ihe external fabric of the Great Poruand Street site. The Govemors decided to In¢￿￿8e the promsion for extemal redecorauon In 2U17-111 lollowlng the ex(en8K)n of th8188se at Wills Hou% in order to take Inio attount th8 red￿ration costs of both propertleB. 18. Movement In Accruals and Def6rred income in the year Con•olidJt•d 2020 Ch•rfty 2019 2020 2019 £'ooo £'ooo £'ooo £'ooo AI 30 SqJlemb8r2019 Defwred incom brought tQ &lt￿nt Accwed gxpendltura paid out Incomè racdvad In yaar and deferred Expendlture acuued al year end At 30 3•pt•mb•r 2020 650 14571 11931 370 675 835 16221 1531 457 13761 11931 369 15821 1531 378 193 156 193 526 eso 525 erred Incorn8 principally cons18ts 01 pr8paymenls of 8ccommod8lioD income. 19 Analysls of nat assets between funds- Consolidated Fund Balanc•• a• a130 $gpt•mb•r 20 ar• r•pr•••nt•d by: Ggneral Fund lunrestriete(11 £'ooo D8signat8d Restricaed Fund5 Funds £'ooo £'ooo Total Fund• £'ooo Tanglble Fixed Assets Current Assets S InveJlm8nt8 10,730 7.814 {1,1961 10.730 73,833 11.1961 60,935 5,084 Currenl Liabilities Long tèrm li8￿11(19$ Provislon lor Ilabiliues & chwges Movernenl in resgrves 1152} 13001 16,696 11521 3C Total Not A•8gt• 61,235 5,084 83,215

Balance 8t 1 Cldober 2019 Incomg Expenditure Gwn61 Tr?￿sfer L088e8 belwe fund Balanc• at 30 S•pt•rnbBr 2020 Con•olldat•d Fund £'ooo £'ooo £'ooo £'ooo £'ooo General fund lunre8td¢te<ll 21.359 5,013 17,2001 11,9761 Ixjoi 10.896 Fund8 for Mai)r Repalrs Ide8ignati 3C Re8erve for Future PurpoBe8 IdeBignatedl ISH SLolaMhip Fund IdeBlgnatedl 58.ts)O 2,817 257 1701 Inlematlonal Studants TNst Fwd Ire8tnctedl Mary Trev•lyon Fund IroBlri¢tedl 4.178 4,171 296 295 William Ros8 Murray S¢holar8hlp Irèslrictèdl ISH Afriw St￿ents 8urnary Irojtrictsdl 85 121 307 181 305 Tarn Nirula Arts ScholarBhlp (restr[c￿l 121 Ellenor Mary Aft￿ Schd8rship Irestrkledl W8hié Butl Stholarshlp Ire8trtctedl 85 121 15 Klrby Lalng Foun(Jgtlon Scholarnhip Ir8sirithdl Roso Fung Memodal Stholarshlp Ireslrfcledl Goats In¢Jlan Scholarshlp Fu Ire8lrict￿Jl Tot•1 fund• 20 10 11 11 83,072 9.773 17,8701 12.0601 83,215 B8c8118e each sludenl accommodation scholarship costs approxlmal•ly £11k per onnum, the curronl practic• Is lo let tho v8rfou8 ￿Stricted funds build up Ih8ir balances unlll they are large enough lo fund scholarshSps on fund-8u8tainable basls. Th8 ISH Schdarshlp Fund 18 bèing used to fund 0￿0mM0da1lOn 8cholarshlp5 In the meantime. Tha ISH Scholorshlp Fund Is a design81ed fund whSch was •stabllshed in 1996 to fund scholarships for students from the dev8low.ng world. During 2020-21 this fund will receive £150k from Intemauonal Studen18 Trust reslricled fund and will expend an additional £636k on xholarships f￿ students from developing countries. Th8 Goats Indlan Scholarshlp Fund was eslabllshod Sn 2013 to fund scholarships for students from India.

Thè Wllllam Ross Murray Scholarshlp was estab118hed In 1998 lo luri¢J ¥Ll1￿¥r￿li1v¥ l(N ylud¥iiL¥ Iiuiii Ui¥ developing worfd. Th8 Int•mational Students House African Students Bursary was est8blish8d in 2¢Y)O and provld88 8chol8r8hlps to studonl¥ bom and T8￿￿ent in Afric8 who ￿8h to study in Lcndon. The Tara Nirula University of the Arts Scho18rshlp was astAblished in 2008 and provides luilion fee8, accommodation and food for a sludenl Irom India wllh a place on a M8s1ers course at tho London Colleg8 of Fashlon, University of the Arts. The Ellènor Mary Anwyl Scholar8hlp wos established in 2014 and has provlded 8 Masters soholarshlp since 2018 lor a fomalg student from South Asla lolntly 8wardad and funded wSlh the South Askg Inslllulo of the Sthool of Oriental and Afrlcan stud￿8. Thg Kirby Lalng Foundollon Scho18r8hlp was esiablished Sn 2015 and supports the accr*nmodalion elomgnl for an ISH stholar for an InSllal term of three years Sludylng an academic discipline and eoming from a county Ihal is of Inl8re811o the Foundalkin. Wahld Butt rnade a donation In 2018 of funds lo b8 used towards a¢commL)JaUon for 8n ISH scholar from Palestine or Pakistan, 8tudyin9 sclence or medl¢ln¢. To dal6. th8 fiJnd8 have not been award9d H$ nono of ISH'S schol8rshlp partner8 h8ve co-funded a scholar wllh Ihl$ profile. Tho Rose Fung Memorial Scholarshlp was sel up In 2020 by Alumna Wen(ty Fung 10 8UPPOrt the accomm¢xlalion costs of a scholar livlng al ISH. The flrsl reclpiont. ￿mberlY MShayo from Tanzania, arrlved al ISH In Seplembgr 2020 and is sludylng a Masters in Glob81 He8llh 8t UCL.

20 Analysls of not assets betwoen fvnds- charity Fund Balanc08 a8 at 30 Sopt•mber 20 Jrg r•prwnl•d by: General Funé DesIgnal￿ Restricted lun￿lriC1elJl Funds Funds Total Fund• £'ooo 10.730 7,795 11,196) £'ooo £'ooo £'ooo 10.730 73,814 Ta￿1b10 Fixed A888ts Currgnt As38ts & Investrnents 60.935 Curr8nt Llatllilas L¢Jng tem) IlabS1itlas Pro￿s1On for Ilabilitlas & thwgos Mov8m8nl in r8Berve8 11521 13001 16.887 11521 3CiI Total Nat AM•t 61.235 5.084 83.200 Balance at 1 InrArne ExFenditur8 October 2019 Galn81 Los585 Transfer b8Wn lundB 4t 30 S•pt•mb•r 2020 £'ooo 10,887 e'ooo 21,137 300 58,CK)O 2,819 £'ooo 4,058 £'ooo 16,0331 £'ooo 11.9751 £'ooo 13001 300 Genero1 fun¢J lunr8slflct8dl Fun(ts lor Major Repalr8 lée61gnalwJl R8BeNè for Futuro Purpos891é88natedl ISH Schol8r5hip Fund Id8slgnaledl Int8mational Student8 TFu3t Fund Irestrictedl Mary Trèvelyan Fund Iresidrt&YI William R088 Murray Scholarshlp Irestrfct8dl ISH Afrlcan Sludanls 8ursary Irè8lricl￿} Tara Nlrula Arts Sch(Aarnhip Ire8tricted EllgrK)r M8ry Anvryl Scholar8hip Ire6trlcted) Wthld Butt sCh￿ar¥hiP Ir9¥1rlr19dl Kirby Lair@ Foundaliw SdK)lar8hip Ire6trthdl RoBe Fung Mernorfal Scholarship Irestrthjl Goats Indign Scholarship FuThJ Ir05trict•dl Tot¥1 fundD 256 4,178 295 13701 1701 2,635 4,178 65 307 95 121 191 121 121 15 20 15 30 10 11 82,851 8.816 18.4031 12,0601 83,206

21 Total resources expendgd Gron¢S Oth•T Diroet Cost• £'ooo Support Tot&l8 2020 Co•ts e'ooo £'ooo £'ooo Raising funds Charitable &tIv￿.&S 1,062 2.172 1,094 3.092 2,156 5,414 7,570 150 Total 1•W￿￿e• •xpend•d 150 3,234 4.180 Gran18 Other Dlygct Co•ts £'ooo Support Totl¥ 2019 Costs £'ooo £'ooo £'ooo Ralskng fund6 Charita￿0 tlvWes 1.737 2.414 994 2,731 5,610 8,341 150 3,046 Total r•wurc•• •xpond•d 150 Bursarth and grant8 P8ld are 8lktètèd on the b8818 of nèèd And rn9￿1, 9ftor ￿leful con$ldorgUon of oppllcatlon8 received with reference lo the alloc8tion terrns of the varioug fund8. C08t allocatksn InclL*J08 an arga of judgment and ihe ch8rily h8B had to consider the cos1 bgn8fil of d8t8iled calculauons and record keeplng. Dlrect overheadB includlro payroll 8r• allocated wlhln o(h&r cogt8 above. Indlrect costs have been allocated on the baBi8 ol the table below. Support ¢￿ts gnd basi8 of all￿81￿.. Nature of cost Allocatlon Ba•1• E'OOO Staff payrdl 8nd on costs Pramis•s ond utllilles Esllmaled tlme sp8nt Floor area 1,692 1.670 Admlnlstratkjn & other0verhe￿ Sal•8 inctJm• Total •upport ¢￿t¥ 4.208

22 Pension schemes Pen3ion arraroements for staff of International Studants Htsjsè ar8 ba58d on final salary benefit schemes with the Univarsity Sup8rannu8tion Stherne IUSSI Ltd for a couple of senlor staff and the super9nnuotic￿ Arr8rrfJamènts of the University of London ISAULI for other 8tsff. uss Slgnlfleant oecounting policiey The in8tltuUon partlclpate8 in Univw81ties Superannuation Schem8. With effect from 1 Octob&r 2016. ihe 9ch8 changed from a deflned ben8fS1 only pan8ion 5ch8m8 lo a hybrbj penslon scherD8, provldlng defined benefilB (for all rnembersl, 98 well a8 dafln•d contribution benelh8, The ausets of the Bch8m8 afe held in a separate Tru8tee- administered fund. Because ol tho rThJtual nalure ol the 9cheme, the 888etS 8re not attributed lo individual in$lilulions and a stheme-wide conirfbullon rate Is 88t. Tha Insltutlon Is th8r81or8 expo8ed lo aciuarfal rfsks assoclaled wlth other InsJtutioni' employeeB and Is unable to idenufy hts 8h8r• of the undetylng 888¢ts end Ilabilitles ollhe 3cherrrtJ on a con81slenl and reasonable basi8. Ai reqUI￿d by Section 28 of FRS 102"Ernploye• b•n•fh8', the Inslttution therefore accounts for the scherne a8 rf11 wore • wholly d¢fln¢d ¢onlribulion Scheme. AJ a rnsull, lh6 amount tharggd to tho proflt and1088 Kcount represen18 ihg contrfbutlong payabla to tha 8chamg. Slncg tho In8tltuUon h98 entered into en 8greemenl Ilhe Recovery PIBnl that determines how eoch employaf wlthln the scheme wll fund Ihe over011 deficit, th& in8tltution r8cognisè8 8 liabilrty for the conlribulion8 payable that ad5e from the agreement (to tha oxtgnl that Ihay rolato 10 tho dofioll and Ih8rel¢xg an expense 18 rncogn18ed. Critical accounting judgement$ FRS 102 mak68 tha dlslinctlon bgtweon 8 group plan and a rnulti-employer scheme. A group plan consists of a collection of entIt￿5 under comrnon control typically h￿th 8 sponsoring employer. A rnulti-employer scherne Is 8cheme for en11t￿6 not undor common control 8nd r8pr980n18 Iiyplcellyl 8n induslry-wld8 8chem8 8uch as UnSver3htles Syrannuation Scheme. Th8 8ccountlng for A mulli-employer 8cheme ￿ere the employer ha3 eniered into an agreemenl the schom& tho1 dgt&miino8 how the ¢mploy•r wlll lund a deflcll re8ult6 in th8 racoonltk)n of a118blllty for the contrfbutlons p8yabl8 that arf88 from thfr 8gr8emonl (¢0 the oxlent that they relale lo the donclll and the re8ultlng expen8e In profK or thg in accordanc8 wlth 88don 28 of FRS 102. Thts direetor8 ère gatIsfi￿ that th¥ %heme provided by Universllies Superannuation Schemè meets thg definition ol a mulli-employer schème and haB ther81ore rgcognisgd the d16coun(ed farr valug of tha contr8ciual contributions undor tha lund5ng plan In ex181&nce at the dale ol approwng the finandal ststements. Key sources of estlmatlon un¢ortalnty Pension Costs The total cost chargod to the InC￿m9 and Expenditurg 8¢alem8nl for th8 yoarending 30 September 2020 wa8 £60,67112018-19. £55.4721. The nK)Bl re￿nt lormal valuaUon wos carrie4J at 98 at 31 March 2018. Part of th8 (xjncluyion of that valuation was agr8em8nl th81 8 fvrlher valuation as at 31 March 2020 would be Carried out. This ig now urKlerswdy and wll be flnalisgd in 2021. In any actuarial valuation, a value is placed on thè liabilttse9 assumlng that the 8ehem8 is (y)going. whSch 1$ known formulty ?3 the 'lechnical provision,. It is this technical provisions basis that is typiG811y used when referring to the value of th¢ stheme'8 liabilities. Since the 2020 valuatlon Is 5111 underwdy. a fundlng position as at

31 March 2020 has been pr8par8d u9ing the approach adoptsd fof the 2018 valuatson. Th8 Betuarial update allows foraxpactéd banèfit payments and changes in membership 2018. and changeg to market condition8 8s wèll as Invesimenl retum expectation8. Since 31 MuTch 2018, th• $theme'$ fundlng po$itlon ho$ worsened on the technlc91 provIs￿n$ basis. In the iwo years since the 2018 valuathon, the scheme'8 defficit is eslimaled to have increased lo￿ £3.6bn to £12.9bn 8$ 8131 March 2020. ThSs Ss largely due to a Signrficant rise in Ihe deficil over the 19120 year. The dgfirit incr885ed by £7.5bn, from £4,5bn as at 31 March 2019, a8 888el8 fell by £0.9bn and liobllitl88 r089 by £6.6bn. The table below summarises the bjnding position ol Ihe scheme al each 31 March since 2018.. £, Billions 31 March 2018 31 March 2019 31 Marcli 2020 Totsl ua•ts 617 67.4 72.8 86.5 Totsl Ilabllltl•• 67.3 79.4 Plat ¥ervle• surplus I Ishortlalll Fundlng ratlo 13.61 95% 15.41 93% 112.91 84% Tho chart bglow detalls the undorfyln9 drlvers of th8 chong8 in the deficit U￿ng Ihe rnonltoring approach. Change In defklt slnce 2018 valuatlon Imonltorfng approathl 14,71 JU03118 Intereston Etlcit ol markp.t ChanEÈ In ¢xpecied IDVQ51menl 11103120 ofngw delKIt arhioved Other approaches The value placed on the 3cheme'3 liabilitses can be measured on a number of different b85es, including technical p￿￿$bOn8, trwJy-ouI, best gsllmate and gom-sulliciency basls, Technical provislon3 and s¥￿-s￿￿e18n¢Y basès ar& ragularty monitored and the buy-out and b88t estimate baBes ere upjated ai ea¢h a¢lu8rf81 valu811on. Thg table below summari8e8 the Scheme's pos￿On on a $eM-suf￿.8ncY basis. Sew-sufficlenq Is based ￿ the 'gU8Tanteed' cash-flows available from the low risk inveBtmgnts.

£, 8illlon$ 31 March 2018 63.7 31 Marth 2019 31 Mareh 2020 Valug of awts Seff4uffbcl•ncy IlablllU•• Svrplus I (Dgflclti Fundlng ra￿ts 67.4 92.0 96.9 120.BI 75% 124.61 73% 130.41 09% As al 31 March 2018, the Scheme 8clu8ry estimated the cogt on a buy-out basis at £113.Bbn. as 8 rèsult, th8 d8firil on this basis was £50,1bn. A buy-out basis gives the worBI view of the 1labl1l￿9s. Howevar, on 8 Oast èstim8Lo b8818. 118bllibes al 31 March 2018 w8ra £5.4bn, Implyln9 8 8urplu8 on thi8 basiy of £9.4bn. Deficit Recovery Plan The USS 9chame Is currentty undèraoing 8 deficAt recovery programma. The recovery plan in th& 2018 acluarf81 valuation r8qulre8 omploygrs lo mak• additional contributions toward8 repalrfng th8 deflclt. The88 conlrfbutlons 8r¢ 2% of Balarf88 Irom 1 Octob8r 2019 to 30 Soptember 2021, increa95ng to 6% Irom 1 Octobar 2021 to 31 M8rch 2028. Thus, tho rncov8ry plgn 8lm8 to r8cover the delic6t over a 10-ye8r pedod. The actuariel report dgt9ffl11ned Ihl$ plan lollowiThJ exten8ive work on the ablllty of th• sch•me'• iponiorlng emF4oyers lo financialty •upport Iha 8ch•m• - the 'coven8nl'. The conclu8lon w88 that there w¥B good vlBlblllty of the ongolng itrengih of the coven8nl rjver the next 20-30 yearn, but ihe positlon becarne la89 clo8r aft8r thAt. 1118 &8￿mIled that Intemallonal Stud•n18 House's Ilabllty under Ihl¥ PTogrornrne18 £51.451. Th18 amount has been rgltgd In tho fln8nclal 8tatements above undar other cr8ditor8. SAUL In¢ematlonal Stud8nt8 Hou88 partiop8t¥8 in Ihe Superannuallon Arrangemon18 of the Unlver81ty of London rsAUL"), vthith18 a centr81ised defined benafft 8ch•m8 ￿thIn Ihfr Unlled ￿ngdorn andls c0nlracied￿ut of tha Second Slate Penslon Iprfor to Aprll 20161. SAUL18 an IniJ8p8ndenlly-m8n&3ed pension schom lortho non.acad8mlc 8tsff ￿ over 50 ¢dlege8 and insti1u￿.(￿9 vAth links to hlgh9r 9du¢allon. Pension benolltg 8ccru8d wlthln SAUL ¢urffjnlly bulld up on ellher a Flnal Sa18ry b8818 or a Career Avèr890 Revalued Earning81'CARE'I basis. Follovlng 8 consultation wlth Member3. the SAUL Final Salary Section dosed on 31 Marc 2018 and all Memb&rs havg bogn buikjing up b&nofil8 on a CARE basls from 1 April 2016. Int8m811onal Sludonls Hou8e18 nol expected to te Ilable to SAUL lor any olhor current partlclpallng employerfs obligations under Ihe Rule5 of SAUL, but in the avant of in80fv8ncy 8vgnt of any participating employer ￿thin SAUL. an amounl of any pension Shortfall Iwhich cannot Olherwse bg r8covèr￿lI in r8spect of Ihat gmployer, rnay ba 8pre8d acrogs the remalning partlcipating employers aThJ rell8cted in lhg n&xl actuarial valuation. Funding Policy SAUL'S stslulory funding objective ￿ to have Bufficienl and approprlele 868ets lo meei the cos18 incurred by the Twslee In paying SAUL'S benefits as they fall due l¢he'TeGhnl¢81 Provi6ionsl. The Trvstee adopis assumpts'ons

vthich. taken as a whole, are intended to 8ulliuenUy prudent lor pengions and benefits Blready in payment to contsnue to be paid arKI f(x thg commitrnents which ariso frc¥m Mambors, accrued pension rights io be met. Tha Technlcal pro￿$10n8 asBumpUons indude appropriate m8rgln$ lo allow for tha po88ibility of 8v8nts tumlng out worse than expected. However, lh8 funding method and 85aumptlong do tKJt completdy rèrrnvÈ tho rtsk that the Technical Prowsions could be insuificiant to provid8 benefils in the future. A fornal actuarfal valua14cm of SAUL is cafrfed out every thre8 y•8r8 by a prof¥S￿Onal￿ qu811fl8d and Indapondent actuary. The latest available full 8ctu8rfal v8luaJon of the 8¢h9me wo8 at 31 March 2017 Ithe valuatlon datel, which was caThied out using the proiecled unil method. The Actuarial Valuation as at 31 Klarch 2017 showg that SAUL has asBels of £3,205 mill1￿) ao8in8t1SabllltSès of £3,149 Tr￿1110n. Thls maans that SAUL's fundlng level has improved lo 102% wth 8 wrplu8 01 £56 mlllSon. The formal valuation at 31 March 2020 is currently being prepareil 8nd will be available In 2021. 11 Iha as8umption8 used for the 2017 actuarial valuabon had been bome oui in pra¢ti¢o, then bB8ed on tho 8gra8d contrfbutions, then the positlon 8131 2020 would b& 8 daflell of £72m, aquSval8nt to lundlTrJ lèvel of 98% relative to the technical provi￿On$ and 8 contrfbUl￿n slrnin of 10.0%. Th& prgllmlngry r98uIts lor the valuatSon 8131 March 2020 show an incr•88￿ dgllcll at £277m. ￿th a lundlng1gv81 at 93%. Th19 Is because of the change In assumptlong. howovèr, the updal8d 898umptlons have not yat bagn ggroed. The current e¥pect4lion IS th•t SAUL'8 funding level at 31 March 2020 wll be in Iho mid-908195-97%1. Accountln9 Pollcy Inlem8llonal Studen18 Hou99 1$ a Partl¢lpgtlng Ernployer In SAUL. The aciuarlal valuauon applies to SAUL as a whole 8nd doo9 not idanijfy 8urplu988 or deficlts appllcablg io Indlvldual employer8. As a wholts, the oxpoctèd 888et Volue of £3,612m at 31 March 2020 is the market value of SAUL'8 888el. Thi818 Bn increa4e ot £407m ilnca Iha valu8tlon data. 11 1$ not posilbla to Identfy an Indlvldual Ernployerfs share ol the undertying a33et8 8nd 118bili1l￿ of SAUL. Ini•maUonal Sbjdents House's accounts lor Ils partlcipalion in SAUL as rf il were a defined conlribullon scheme and penglon costs arB based on the arnounts aclually paid li.e. ¢a8h 8mounlsl In accor(Janea wlth paragraph5 28.1101 FRS 102. Thg dgfinfjd b&ngfit lia￿litY to be recognlsed by Intematlonal Students House in respect of the dtrficil ¢ontributions dug to SAUL11.e. the present valu8 of the dellcit contdbutlonsl Is £88.706 as al 30 September 2020. Thls liabllity io b838d on a proiactlon of Salaries over the period to 30 September 2022 and has been rellecled the financial 8laiemonts above undor other credilorB,

23 Subsidiaries The charws trading subsl¢Jiary. Park Creseent Conference Lirnrted, vthich is vknoty ovmed and registèrèd in England and W8le$, w89 actwated during 2￿5-(￿. Thè charity holds 100% 01 the Ord￿ary share capltal of iha company which is £1. Its principal acts'vity is tha supF4y of conf8r&nce, bar. and related facAlits'es and services to rgsldents, dlant8 8nd patron8. Results lor the yèar ended 30 September 2020 wero as follows.. 2020 2019 Turnover Costs of sds GroBS profft Other Expenses Profit I ILo••l for th• yg•r 1,280,639 1294,8651 985,774 1976,6011 9,173 2,456.463 1394.2481 2.002,217 11,841.7011 220,516 N81 Assets 9,174 220,S17 Share Carltal Retalned Profit I ILot81 To¢al •h4v•hold•r•' fund• 9,173 ,174 220,516 220.517 Dudng th8 yoar P8rt Cwcènl Conference Llmkad mgd8 9 iurplu$ of £9.17312018-19.' £220,518),. Ihi9 amount wlll be paid 89 a disln'butyon in 2020-21 ¢0 Inlemalional Student8 Houge. 24 Rolated partles Inlemational Students Hous618 a reglstergd charity and a ￿rnpany Ilmited by guaraniao of vthich Glll Hammond 18 th& Chalr M8. Ibl Eio, from 8rfdgehousg Compgny Socrgtstle8. 18 the Compony Secretary. Inlgmgtlon81 Students Hou86 Is conn8ct8d wlth tsyo other chor5￿￿9,, Toyota-shl Trevelyan Trust ol ￿lch Glll Hammond18 th& Chalr gnd Inlemathjnal Students Trust ol whlch John G8rtJult 1$ thg Chair. M$. Ibi E80, from 8ddgahousè Company SeuelBries, is the Company S8cfgry of both ¢h&g0 ¢hari11o8. TrnnBaclion8 wlth th888 PA￿9$ durfng Iha ￿ar o)n8t6d ofgrants recefvod from Intemallonal Students TN8t of £213k12016-19- £565kl. The grants w9rg SOtU8(J prior lo 30 Septernber 2020 on which d8t& 1ST don818d all 118 88s8ts to ISH in the form ol charitabla donalbn. Arnounts (xyed by ¢onnocted trusts at the year-and ar& dl8cIo8od In notes 14 and 15.

25 Charitable Donation from 1ST to ISH 1ST rnade 8 ¢haritable don811on of All ts A8818 lfixrthpt £11 rm 10 Sftptembof 2020. The Incom8 and expendhure Statement and b8lanct carried foJw8rd a130 September 2020 98 foll¢)w8: me 2020 2019 Total incorniTrJ resouT 254,278 209,895 Total re80urce8 e¥pended 1226.7sril 1588,6031 Not Op•r•tlng Iwwrn• l (Exp•ndltur•l 27.488 1376,708 Net G￿￿8} IL08Je81 on investment 888ets 155,0541 471,116 N•t Mov￿•nI In lund•ft>rthD ya•r 127,se•i 92.40 8alance brought foNArd 4,500,883 4.408,275 Donaliw to ISH on 30 S•pt8mb8f 2020 14,473,118) 8•l•nc• ¢•rrhd forw• 4,5ty),683 Operaling Lea38 commilments At 30 Séptambar 2020, ISH had out818ndlrrfJ ¢ommSlnnl8 for future mlnlmum l&a80 poymont8 under non- ¢an￿lIabl6 opefgung lea8e, 2020 2019 Due *ithin one year Due betr￿en Iwo to fivg yèarn 50,598 Due after TTr)re than five years 18,•97

27 Capltal Commitments At 30 Septen*er 2020. Iha group had c￿tal commilrnents for flxturos and fltUng$ (Rooms rafvrta8hm6nt', B&ryement vents￿l￿On,. And Flra alarn￿ 8ySt¥ml of£1,1Clk12018.19'. £2,090kl. 28 Taxation Internalbnal Siudents Housa Is a raglsternd thwlty and a8 such Its 5r￿lme and galns fglmng ￿thIft 8505 ICTA 88 or 8258 TCGA 92 arn 8xarr¢it from Corporn￿On tax to the extent that thoy Aro 8ppllgd to Its ch8Tit8ble obJpctlveB. Its 8ub8l¢Jary Park Cre8c8nl Conforonco Limlled ha8 not incurred a tsx ¢hary&, a8 It haB donated tho 8urpluJes it ha8 hleved In tho18Stfew flnonclal yew8 to Intemallonal Sludent8 Hou￿.

ISH Annual Report 19-20 Approved by Board 04.03.21 Fln81 Audll Report 2021-03418 2021￿08 IT ISM Ima￿h.￿a.lI(l Stsbj ID.. C&JCHBCAABAA4th1Rt136kJJt)¥XCTzrpX¥&lAu8kiy "ISH Annual Report 19-20 Approved by Board 04.03.21" History D0￿Mont ueated by IT ISH (It Ish.org.ukl 20214)&OB- 2.28.'22 PM GMT- IP address.. 62.1B.225.72 . Document emallod lo Gill Harnmond [e-mail] lor signature 20214￿00- 2.'2D.'05 PM GMT Emall vlewed by Qlll Hammond Iglll.hafflmond999 2031ryO>OB- 3.'07..24 PM GMT- IP 8ddrnsa'. 66.249.93.41 gmall.coml Document 8-51gned by Glll Hammond [e-mail] s19)￿re Dsto.. 3)21.03.08- 3',08.'13 PM GUT- Timp Sow¢•'. ￿r- IP •SJra88." 81.97.155.243 * DoDJment &m811od lo Nlchc488 Bourne Inlckbourne1 20214)>00. 3'.OB'.Ifj PM GMT holmall.co.ukl lor slgnaturg Em811 vlewed by Nlcholas Bourne Inickboum&1 2021-03-08- 3.'$0."13 PM GMT- IP80dresB.' 86,171.165.0 hotm811.co.ukl Document e-Blgned by Nlcholas Boumg In1￿bOUrne1 hotmall.co.ukl Snaiure Date.. ZO?1-03vo8- 3'.51.'44 PM GMT- Tirne Sourc'. 88r¥er- IP *dr8S5.' 86.171.186.0 O Agreernenl compl¢tgd. 2021-03-08- 3.'51'.44 PM GMT IJ Adobe S