Charfty rnghtr•llon nunth•r 526m Company M9l•tratlon numbor QO914963 (Engknnd and W41•8) WINDERMERE EDUCATIONAL TRUST LIMITED TIAWINDERMERE SCHOOL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 WINDERMERE EDUCATIONAL TRUST LIMITED TIAWINDERMERE SCHOOL LEGAL AND ADMINISTRATIVE INFORMATION Gov•rnor• A P Ch•mberfa A S Roberta P A Hogan I C Kenny (Appolnt•d 4 J8nuory 2022) . Roverend C•rrf)n J D Browslor L Houldlng MA Huntyr HJN•ls (Appointed 2 May 2022) (Appoint•d 11 Moy 20221 (Appointed 8 June 20221 (Appolntod 21 Seplernbgr 20221 S•cr•tary SRO C￿lIty numb•r 526973 com￿nY nwnb•r 00014963 Pvln¢lp•l •ddY• Tla 14Vlndennèr• Sthool and Windemwre Preparatory Sthool Browhead Wind•rme Cumbri8 LA23 1 NW . Regi8teY￿ ¢)If*• Tla Wndemiere Sthool and Windgm*rn Preparatory SI*￿1 Bfowhead nderfflere Cumbria LA23 1 NW Audltor Jackson Stephen LLP James Hou4e Stone¢ross Busln0$8 Part "_YE* Tree w￿Y ngton Che8hiTe WA3 3JD HSBC B￿k plc 64 Highgate Cumbrfa Kendal LA9 4TF WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL CONTENTS 10-12 13-14 15 17-30 WINDERMERE EDUCATIONAL TRUST LIMITED TIAWINDERMERE SCHOOL GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2022 The Gov•morn olVlndom)ern Educ41tonal TN•I Llffthd pro8•nl thdr annual rqport and audit•d for the ye•r ended 31 August 2022 and conblim they witti the rtquiMmenl8 of th• Ch*bfj•8 Act 2011, the Ch•rtt*8 SORP IFRS 102} aNJ th• Cornponies Ad 21)]6. REFERENCE AND ADAIINISTRATIVE INFORMATION Wndwmero Educallonal Trust Llmtted fThe Trusfi founded In 1863 kn LythAm Sl Ann•'s. It ￿ conslnuted as • Company Llmmed by Guornnl••. reglBterad in EngL*rMI and Wal￿, no. 00914963, and 18 r•918t•r•d with th• Ch•rtt￿I Comml••lon undfjr Ch•rty No. 528973. Th• Twit oporale• on three 8it•• known 17 VWnd•miere Sch+)ol, tb• 8rowhe•d Cwllpu3. for Iho89 In Ywr 7 ond •bLWe, the Ell8fay C•mpu8, for puplll In Pre4CrKJ¢￿ to Yegr 6 •nd Hodge Howo. our Salllng and Outdoorn Centr• on lh• iMr• of V41nd•m•r•. Tho Tru•l op•rats$ under the tr•dlng Mm• Wnd•mi•r• Intsm•tion•l Summer Scho￿. Th#r• IJ Gov•m5ng Body. D•tsll$ of th• of th• Governlng Body. toB•thw th• TN•f• offlc•rn and prlndpl 4d¥lsorn, or• on th• *•1 and admlnlstr•tlvè Informallon P￿•. 8TRUCTURE, GOVERNANCE AND MANAGEMENT fj•v•mlng Da¢uffl•fi Th• Tr￿t li govomed ty Its M•nwrnndum ofA••oth•tk>n •nd ArUel•# olA•Jod*llDn l••1 •m•nded on 20 Janu•ry 2017. Gov•rnlng Bo* Th• Gov•mlng Botty 18 ••W4ppolntod wllh tNrd of kn m•mb•r• r•qulred to r•Wr• ty rol•Von •1 ••¢h AGIA. Th• firnt Appolnlod. or long•￿ •lnc• lail rnaPWnlm•nl, •ro th• flrnt lo r•tlY•. Gov•moT• by rothiion can be r•v•l•¢t•d. N•w ffl•mb•rn ol • Go¥•rnlng Botty •r• elected on th• M•1• ol nomSn•lk)n• by th• Gov•morn and th• •x•cutl olllc•rn b•••d on the candld•t••' prof•i•lon•l qu•lttt••. •xp•rlenc• •nd p•rwnd comp•t•nc•. R•¢vultffl•nl •nd Tralnlnq 01 Ggv•rnorn N•w Govomorn Are Inducted Into the wortlThJ• ollm TruBt, Indudlrq Qovombng Bt)dy polky Ind procadurtl, at 4 ••rt•8 of Induction m¢ellng• •po¢191ty orgAnls•d for them by Ihe He4d, the Clwk and other Go¥emor¥. Governorn rxry OLrt an annual 8klU8 •udlt and und8rtak• to procure addlllon418uppon or trnlnlng to •n•ur• lh• •pproprlo1• I￿118 rnmAln •￿￿&bI￿ to •ul8t the School In m••tlng kn •tr•t•gk and op•r•llon•l obJth•. WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORn (CONTINUED) FOR ThIE YEAR ENDED 31 AUGUST 2022 Ory•nl•atlonal 8IT4Kt The Memb•rd of the Govemlng Boty. •• Ihe Chorty TruBtee8. •r• l¢981ty re•pon81ble for tho 0￿1411 m8nogem•nl and control of the TruBt. The Governing Body u4uaty mo•ts Im•s a y•ar. Th• WO￿ of Implgmanllng their policies is carried out by fve Committees.. Th• Fln•nc• and G•Mrnl PurpoM• Commltt•• s¢nrtinis• r•v•nu•. tho budget, th• fvture capfftal plan. capital •xpèndllure and monitor fin8ncL41 rl8k. Th18 Commlttea aloo 6up8p4118 4nd Ilng111• th• audited finandal 8t4t•rnnls •nnu•l r¢port lor appm¥al by th• Go¥8rnlng Body. Th• Flnanrhg and G•n•r•l PurpoM• Commlttee Is chairnd by Mr PA HogAn Ind report* to th& G0￿mIng Body ot ••ch board Me￿n￿. Th• Nomln•llon• Commllt••. thalr•d ty Mr•A S Rob•rt•, tho orderty •uwJuton for •ppoknlm•nts to th• Bo•rO •nd Mnbr m•n•g•m•nt. Th• Rl•k IA•n•g•M•nt Group mothrn th• 8lr•t•gic rllks faclng th• Tru•t. Th• group l• th•lr•d by thè Op•rnllonJ M•n•g•r, Mr R H•nn•h •nd r•ports Into th• Bo•rd •t ••ch medng ¥1• Mr I C Kfjnny. Th• Eduutlon Commltt•• chlr•d by Mr C J Rlckart up to hi• r•8lgnatlon from the Gov•rning Body In November 2022, And l•tt•ty by Mrn A S Robert•. monllor• ond revtth¥8 th• xod•mk. c4>¢urrtcular and p411or•l prnvl•lon olth• School, •nd m•k•• r•c•mffl•nd•Uon• •• •pwoprt•t• to ¢3owmor•. Th• M•rk•llTrg Commltt••, ch•lr•d by 141f P Scott, monltorn th• Mcruthnt of n•w pupts Ihrough mirk•llng •nd *dmiislon8 Inlll•t6vei. SoTh go¥•mor• h•v• d•bg•ted r¢sp0MlblNd￿. For •x•rnpl¢, Mrn A S Rob•M ov•r4••• •ll Mp•¢t¥ of 30fvg￿Vdonq. MrnA S Rob•rt• atso ov•rn••s th• Ea￿ Y•arn Provlllon. Th• Ch•lr ot ••¢h wnrnllt•• momb•rn ot th• G0￿MInI aody •nd •ny •ddttlor*41 •xt•rn•l oXP•rtkn• Ih•y dmm •pproprl•t• k+r m•tt•rn und•r conild•rntknn by •AL* commltt••. Th• day to d•y runnlng of th Khool h d•bg•t•d to th• H•Adm•it•r iupport•d ty Iha S•nlor ManAgwMnt T•8m and S•nlor L•4dor•hlp T•Am. Th• Headm••l¢r 8tt¢ndi ¥ll meetln91 Qt the G¢)v¢mlng Botty'• C¢)mmltteo• with lh• •xupllon ol th• Nornlnallon• Commttt••. Employm•nt Pollty The School 1• 4n •qual opportunlll•• •mpby•r. Full •nd f•lr con8ld•r•llon l• gfv•n to lob •ppk•t1O￿ from dlublod por￿n$ •nd dug ¢onsldeTa*on l¥ gI￿n to Ih•lr Ir•lnlng and ernploymont n•ed¥. Consuttatlon wlth •mploy••$. or tholr ropro1ontsll¥e•. ha8 contlnuod 01 •1110¥ob wllh tho alm of laklng t￿ ol•rnptoy•as Into •Gcounl vth•n dorijknni are mid? th•t are likely to ¥hct their internsts. WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL GOVERNORS. REPORT (INCLUDING DIRECTOR8. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Tru¥t M•n•g•m•nt Thè G¢w•mor8 givo con8rderntlon to the milor diks to whkh Ihe Trust l¥ •xpoaed. Th• Go¥8mlng Body has uttlmatB respOn￿bI1￿Y for managlng any fi%k$ 18c¢d by the Tw$l. D•tslled o)n&kleratlon of rfsks h delegatod to th• approprijts JutJ-commItt￿. T￿ slructure of these ￿mmittee$ compfi8es appropiiate membership fmm the Govomlng BLW. •88101od by the School'i Sensor M•nagement and Lead&rBhlp Team¥ and any exlemal expe￿￿0 Ih•l m•y b• r•qulMd from Ilm• to Ilm. Th• TruBt management proco11 and the r•8ultin9 r•ports Idenufy rl8ka. thelr knpact and 1*elh0￿ •nd, wh•r• n•c•888ry. r•comm&nd8 c¢ntrol• to mrtlgAt8 And ffK)nhor Iho•g rl•k4 th•t 0rt 418e1iod 4• Ngh. Th• 9•nwk ￿ntro￿ umd by th• Truit to miThrnlie rfsk• In¢*ud•: . Terni8 ol r•f•r•nco for fj￿h mmltl•• and Trust Board 4Ctl¥lty; . Cofflprehenglve budgeting and management #¢countlng,' • Eotabll4hed organl8atlon418tructur•i and Iln¢8 ol r¢pOl￿n9', Formal writt•n polici￿ kncludlng d•ar •ulhodulSon •nd •ppfo￿l l•v8f•'. . Vattlng procedure8 al r•wlred by18w forth• prolo¢tlon ol chlldr•n. H••llh •nd uf•ty l• •lw•y• • •lonlficMI for Rl•l( M•Mg0m•nt. The rl•k• rnnge from flr• •nd Infr•olru¢tur• to p•r8onal rlokl Imo•t not*bty wh•n Q￿Y from tho c•mpu8 on Irlp$ and •xp•dNOon•l. •nd morn rff•ntty ¢ont•glon rlik. The lov•1 and br&adlh ol actfvty •1 the TNfjl's s¢h0o￿ lo lrnpro•Jfvg and tho rl•k• aiwclqt•d with 011 4ctlvtttei •r• mlnlml8•d by •mployln9 • comwt•nl and qu•lififjd Opernllonl Manager. and 4 tr4lned Edu￿tIOn•1 Vl8h Coorflnolor. The u••d Kym ￿•n A••od•ts• to on H••ltli & Safety •ThJ Educ•ttonal Vl$h Ihroughoul 2021r22. Th• Go¥•mlng eody l• i•ll•fl•d Ihat far •ll major rf•k• Idorffied, appropfl•t• conlroll ￿¥0 b•￿ pul In And m•lntaln•d to mlUgat• thom rfsks •dequ•t•ty. 11 h r•cognlud th•t c•n provW• onty rn••or*l• not Ib4olute •iiurance th41 m#lor rt8k• he￿ b••n m•n•god. 0OJECT8, AIIA8, OBJECTIVES AND ACTNmE8 Ch•rfi*bl• Ob￿¢1¥ The Tru8f• Oblecl•, •• lot oul In th• M•fflor4ndum ol A8wJ•tlon, Ar• the 4dvAncement of educatlon by provldln9 9•n•ro1 In¥tructk)n of th• hlqhgst d•iB. togoth•r with phyilc•l Ind moral guédonc• In lh• School'• m•nagemènl by th• Tvuil. In furtherance ol th••e Oble¢l• and for th• publk bengfft. lh• Tru•t has •stablished 4nd Admln18tor• bur•ado$, Jcholarnhlp8. aw•rd• •rKI olh•r b•n•l•thn•. •nd acls 46 Ihe Tru•l•g and Manager of •ndowffonl•, bequ••t• Ind glftj 9￿•￿ or••l•bN•h•d kn purnuinc• olthe80 ObJed•. Th• BoaTd18 MI￿lIu1 of th• long4tandlng n••d to pmvide publlc b•nefft •nd of Ih• r•quiremonl• ol tho Charftle• Act 2011. In thls regard. thè 808rd h88 monltored th• Aupplermntal guklance produc•d by the Charity Comml••lon. In particuFar fts publlc ￿nOfft guld•nc• on 8dvancemgnl of edu¢alon and on fee charglry. Degplt• contin￿n9 diffic￿1 econornic clim8ts lh• Tru￿ ha• •lmost ex￿•dad £1m of jup[￿ provkled by way of bur•ary. dlscounl or financial 8upport. Vl•lon To b• • xhool In whlth 8￿ry pupll l• In8plrnd by the chall6119e, root•d In th• IAnd and bro￿1 Into tho fokl: •m￿we￿n9 compaulonale G￿nge mak•rs who leek to ifflpro￿ Iheirvffjrtd. WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL GOVERNORS. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 IAl¥#lon 8ttt•m•nt Thg Tru8Ys mlssion IB to pmduc• ￿nfidènt aThJ c4)mpa$S￿n41e people. Through teacling exel•nc•, 84)porli pastoral care and èxperienc8 of ouretwlronment, we entt*urage indNklual sttrxess r￿mmUn￿ good. Our ￿lon and missknn are thaped by our deterninatK>n to encourage 8eMntrAedp. artthlated by our ￿h0o1 motto.. Win¢6t qul $8 ￿ndt- One conquorn who cwuer8 one86ff. Today that n*8ffl8.' ￿erC•mo You￿119nd you 11 a¢hlev&. The tha118ng8s pupll$ to wAI. to have Suffldent se￿01vanI* b know that detennination o¥ercorn• adverslty, Jnd to be ofv4ue to so￿ety. Int•nthd IM￿¢t Whhln Its charitoble Objects. the Tru8f8 intention 18 to wovide • ￿￿t￿a8$ educatton ttvough strong a¢•demic tuition and by develop5ng bro4der that en8ble every pupil lo reallso hls or h8r polenuol to the full. Th18 'invO￿e$ emph4sis on the oxurrkulum through carebrAI. sportlng. artists. teaffthilding and Social skills. This policy t￿lId5 seffaC￿f￿tence and li12 skih in our and incJJl¢ate8 A de•ire to1&om and • willingne88 to o)nlrlJule lo Ihe wklw ￿mmUnIty whilst at school and In18ter Ile. Alm• The Trusvj aiff* for the puNrc bonofft are to: 1. Insp￿ our pupils ttrmugh a broad #nd balanced tsJrri¢ufum that challen98s Inslde and outsldo the da$8room, ere they tearn about their •tr4ngths and weaknoss•s, and •r• •ncourngod lo strlvg for •xc•ll•nM In dl things., 2. Support our pupils to dewlop thelr Indlvldual academiq creative and 8portin9 talent8 and 8kill8 of l•ader8hip to enable and empowerthtrm to make #n acaive and re41 contrlbution to thelrwortd.. 3. Use our unlqu• lo¢atK*n 8t the heart of mounlalns. lakes and rivers as our greater clas8room for adventure and odvenlurous leaming. where our pupils will leam dire¢Uy >btsut Ihe en¥imnmenl, e•¢h other and th•ms•hMs,' 4. Footer a deffloGratlc and ac¢ountsble ￿lture whore our pupils con¢rfbulo lully to school ond communlty lif• and take increasing responsibilty for Ihfjlr own leaming and aclion8.' 5. Enry)urage 8 global perspedk¥e ty provldlng opportunitie5 for all ow pup18 Irre8pecll¥¢ of gender, rnco and bew8 and an￿￿•9Ing thom to value and resi￿￿ differen¢e8. Strat•gl•• tgA¢hl•ve th•AIrns The ongoing impact of the pandemic •nd vAd8r $ocSwollfj¢al conslderations has res￿led on th& d￿j510n to focu$ on a 2 year plon to September 2024. At the tiTr* of wilting, the Indlvldu41 •lem8nts ol are In the process of belng agreed ty the Board and will krgety on the core provision. o fevtow of Infrastructurn and support ty8t•mi. $uts¥wbibty #nd a rnlmaglning ofth• offer outside of 8chool term tiff*. Princip•l Activity Thg Trusvs pmwl actsvity, a$ speufth1 in IM M•mor•ndum OfAs¥K￿ll￿. Is I￿ •d￿¢•M8Tht OfeduCatk￿. WINDERMERE EDUCATIONAL TRUST UMITED TIA WINDERMERE SCHOOL GOVERNORS. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Putsll¢ 8¢n¢fii wilh its foundlng prindples. TheTe a reguirement to deffffistr*e th￿ publt ber*fit for thantable PU￿se$ where tt has hbtherto been pre8unW In Ihe •b¥en￿ of e4id•nc* to tr* ￿ntrary. Thts in bjm for detalled dlsdosurps ¢Mc•mirtg our alms. view that bursori•s awarded to th08e wPK* THoukl not otherwi￿ be able to ¥ff(Kd the fees •re knportant. but not ID Ihe exdu*on of the rn￿￿ wider b￿8fft tw tr• Tvust wo¥ldes within tr* ctsnrwnty. Those pupi15 TAtho attend r Schools arKI vtho re¢%ive fin8n¢i81 support rAXrtrt>u* to the S¢hool o)mmunty in a ol waya. and so the benefft is not PLYely lo th88e gupts to the Trust and. in 80m ca$8& to Ih• wKlor ry>mrr￿nity. In 2021r22 the Tnot owardad Ixmsa￿. and ¢Xher w*ards totsThrvJ £1m PO2￿1.. £1m). VAlhkn this. means48sled awards bawl on a sIKliw seal• aC￿rdIng fiDarKyal or¢wnstsn¢o$ lotaling £370k w¥e a￿rd¢￿ to 43 pupils {2tr2(￿l. 46 tola*y £4(*k). Burnary 5.8% of gro88 in￿me In 2021r22 (202fh21.' 8.8%). In addbbon to bjrnarfes. the Tnwt has eryaged kn nwny olwactrdth8s that yo¥*le b￿eft *) wbk whhln th• obigctives. It is dMfKutt to measure 8ttur¥tety th• finarmxl Value ol this publt benefl. The benef provid•d by bursaries and other acb¥*ies Can be wnsKlered alwsije the l)8nefft of ¢dLKXtiNJ t￿ 256 UK puplb *thlth. in Ilsell. h¥$ saved th• •xdwuw some £1.5m. The TnJ8t18 an inwrtant part ofthe kncal with 118 fidj aThJ In 2021r22 fflaking V one of th• l•ryesl fjmpl¢ryer5 in the By tsr the tsrgest propoFl*xi of the Tnofs exp￿dit￿e IB ac(x)untsd for ty sal•rles •nd purthase8 frum l¢MI arKI lyjsinesses. Thus ¥ propor1k￿ of funds ar• weslod dlrKty In*J the e¢orw*ry. Oth•rCMrflabl• A¢U¥ltl•• In addNlon to purpow. In norrna yearn the Trust • Thmiber of seThKe8 and experi￿e•S to I¢￿1 wmory s¢hools of tharge. These ¥Kh*Je o fheffk•l MagK' Shu*. IAtsternports Dw. LoThJu8ges Day ond Geography Day. in addrflon to I￿lIng ￿ orMI CTos>County Eb*nt tr 26 I)¢41 prThary ￿￿0013. Salling and V*ter8p￿ts luition at th• Sthoof8 lako Shorn ￿￿er$pOts IB FXDVK*d ￿ a * b•¥ts to Iwo lo¢al primary s¢hods * mlrdmal charye. •xl lh• Tnjst al￿ pItr￿e8 • hwJh ¢Wo￿ s¢*￿01 Me* SeThice to another school. The Trusl also frewenty the Sfhofs fathtie5 •t rm) (*•rye to Ixal r>Jrnf￿ty or dwrit•hle gmups 8L#* 89 ' Ihe corn￿￿nitY Cholr. Rotary Club. County SportsAssL¥>￿ ¥ThJ 8la¢kwg1 Sailing who pro¥ide he of tharge sallkng a¢*ivitipi lorthose with • dls•bW. Pupils m•ke $sgnifunl ¢XntrIbutio￿ to the lo¢al ¢omTh￿ty and d*1￿. Th? Sthool a Se￿1¢￿ programma for Years 10 and 11. where Fwi18 engoge kn a varw of aal¥#￿ for on• aft•moon per fortnight for Ihe b8n•fit of Ihe local community. Exwpb$ of a¢lith undertaken incawje r¢p8irlng on the fells, conseNatK>n th in tho grounds of a l¢)¢•l ¥iwlorn' rath. pkntiyd trees c*arlw Ibtter fmm the Nalional Pa WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 STRATEGIC REPORT ACHIEVEMENTS AND PERFORAIANCE In 2022 tm Trust C4)nllnued lo ¢elebrate knpresslve GCSE re8ult8. The School contradkted the nthal trend ty gainin9 morn top grades than in the pa8t', this was thereforn on& of best ￿1$ for gr4de8 ofA", A, 9, 8 and 7. Re8ults hw8 ConUnu￿ to slwikanty exc•ed tm nalional ￿lage8. In Year 9 #nd 10, 100% of students attalned 8 level 4 1 grade C or abo￿, in addition to 94.6% kn Year 11. Thls gav• an over811'p8ss' r•to of 95.4%, compared to nationalty. Th18 was 8 drop of lust 2.6% on 2021 {4th1th were 100% texher a6sessed grad88. th a r•duud $yll•bus and Th￿re generous wade bounda11￿) o)mpartd to • 4% dmp nalionalty. FUrthenl￿re. 54.2% of9rade8 were a levd 7 1 gradeA or al￿$ {Jn uplmt ol 0.8% on 20211. Addlllon*. 392% of grades were a level 8 1 gf8deA" or above {an Inuease of 7% on 2021). DeJptt• th• C￿ntinUed th*nges of the panrtem￿, thè TN8t celebrated an unexpected 1CLI% pa8$ rnt•8 In both Intemalonal BaccalauTe8to Dlploma Pmgrammg {18OP} ond IM Intemallonal 8ac¢*ureat• C&r•ern Programme {IBCPI whth sludenlj undertak& In tha Slxth Fomi. Three IBDP 8lud•nts scrygd an ImFKessive 40 points or more and eitht IBOP students {47%) •chieved the Blllngual Diplofflg. The Trusvs mean IBDP Bcore kn 2022 wa8 33.1 12021: 36.4 inflated due to the parnlemic) Ich ¢quate8 to the median score ¥CfO8S Ihe 14 Y￿r5 of lh& Tru$l's IB •xamlnatbn$. w*h a rango from 31 120091- 36.412(Y211. In 2022 IM Wortd mean $¢ore w•$ 31.9. rA)mpared to preapandernlc score of JO. E&hl #tudents147%) ￿1n8￿ 34 or rrm polnts In the 18 Dlpk>ma. In the 18CP the dlstrtbudon wgs skewed t￿ard# the hlgher gradei Iris y￿1 with 80% •chiev¥ig D'D t*hith . •quival•nt to A'A at A level). Thi5 was the first ¢ohort where exl•mal ox8m$ wer• taken ss part of Ihe final grading. C04urrf¢ul•rA¢J¥ltte• Th• 2021-22 acad8ml¢ year was slll Off￿1¢d by Co¥ld r0￿ctIonS to an extent, witti • gradual retsjm to IM Itvel of a¢bvWes seen before the pandemic. Sportlng ffixlures were stil affe￿¢0 by individu•l K*ool$' COVID procedures and outbre￿3. howe¥er. inter- ochool national toumaments dld begin to run agoln durlng tho y￿[ and school teams were able to play In the region of 200 fixtures across ho¢key. n8lball. football. crosswcounty, b*¥ketball, lttnni¥, kyi¢ket and ¥thleli¢8. Arnund 30% of these were victories and 50% were drnw3 and10sues, T*llh multl partidpanl events accounung for the ramainlng 20%. The undw 16 Girt¥ ho¢k•y team progr¢$sed thmugh to Ihe County finals toumament reaching the semiwfinal, the under 16 and und•r 19 netb811 teams 8150 progressed into the County final8 toum8ment8, the undar 18 and und•r 14 Boys hockey teams progressed to the North West fwr 3 and fier 2 finals res￿¢11¥￿ty. and the under 16 and under 18 8oy8 foolball tearrvs went throuoh the fir8t two round8 of Ihelr cup cofflp8th*JnB. In cros84ounty, th& Boy8 tsam wern County champlons and ¥ number of runnars helped the South Lakes Team •180 take a ¢ounty crown. One pupil ran in the National finals in Essex. In the SurnmBr tsm) the under 13 and under 15 Glrts tennL8 teams rnad8 the county fina18, with the under 13's fini5hin9 a8 runnern-up. and Ih• under IS'S as Cumbria Champions. Notabty. pupil won the Cwnbria 100m 4nd Hvdh Jump and wa3 a180 CTv•med North under 13 PenlatNon Ch?mpion. Students again were •bfe to enjoy Inter Ho￿￿ ￿mpetrti}n5 in hockey. netbAII. footbal, baskthll. and roundern as ￿11 as g•lb"ng back to the oth1gtirA track for a full sports day to end the year. In Sailing. the rac• team cantinu•d to achSeve f•nt•8llc results throLwJhout the ye*r wllh mny achkv¢ments th• Reglonal and Nat￿)nal Fevo Champion8hip8 and atso the Fe￿ Champw)nship8 in Weyn￿UIh wh&rn sludents fA>mpeted agalnBt an intemalonal ffiekl. In Att￿nI￿re. ElbeT•y studènts had weekty lessons where thty leaml to n8¥198t•, dlmb. ￿11. ranoe. kayak. blke saf0￿ and admlnister firnt aid. A numb•r of Te6identSal trip8 were und8rtAk8n for Year$ 3 to 8. Includlng ￿[d camps and ¢h•lleng0 0¢1￿100$. WINDERMERE EDUCATIONAL TRUST UMITED TIAWINDERMERE SCHOOL GOVERNORS, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Browhmd •ttKlwt• h•d 8 fvll pny•rnrn• Ol￿nn￿rn *)d t￿. ghyll ￿arrIA1n9. 88Mlng. *thndsuffln9. rnounta￿ biking, ¢8ving, kry0￿r￿a. canoeing. <*•ling wih in¢ld8nts. orttnteeri￿ and mount•ln n￿9￿1￿. Y•Brn 7. 8 and 13 underb)ok le¥denti￿ adv•rt￿re ty18, wth a(fventurn dwfor Years 10 •nd 11. d•8 lh• ful progrnmm& ol UJIrf￿1or Athwrfur•. IbJd•nts •rn abbo trj tske part In op1t0n￿ altr ￿1001 •th￿¥s b develop thll•. These IrKIth Paddw. (Ekny and Brvththeadl. dimbing. wind8urfing •nd rnce salllryj. Bmwhe•d 8ludents dso took part in optsngl r•ild•niwl trips to Norfh Vlales dmblng and SwllAnd wwrterw4lkhig 4nd dmb*q. Oth•r trip• w￿0 oJrt¥l•d ikn to CA>¥id T•stri¢*ons. Tho Ouke ol Edinbwgh sche￿* ￿nIlAU*l lo flourmh at IAfjndern*rn St*ool ￿mP￿t￿o Bronz• and SW4er expe(Illlon•. FiifvRE PLANS TM cor• •f•nhints ofth• Tn•t'• D•¥•knpn*nt Pkn • To ¢onllnu• to •nsure th• ¢•MpU￿ offer • Mf• And •ttraL*rt •n¥*onnwit lor putyl•. itsff and ¥l•hors'. • To PTovld• • h•ppy And p••lry4 •n¥lrnnment, wllAbl• for bolh d•y •r*d bo•rdln9 p￿1￿, ii vthicti il puplli •re off•r•d opportunths lor ￿le￿￿1P •nd to othws: . To provld• a $¥rnul•tlng1gamlry •nvlronm•nt In pupll• G•n dvdop thelr•c•d•m¢ fftnll•l to th• I￿1. • To off•r •ll pupil• th• opportwld•• ol •Yp•ritinc*w a IKo•d ol Intel0￿1, cultur•l. Iportlrq •nd wld•r- ¢offlmunty •c16¥{d￿. • To Incrna￿ th• cwp•blllty ollh• TnJ•t lo off•r•thtrJn TA p•r•nts ar• un•blè to afford feel: To pmvbd• In On￿Y•bIe •pwoprf•t•ty t1￿1*All￿ rnemkn of 8tAff nwy dmlop thdr ¢or••rn,' • To •Mur• thal the Tnmt plw • ibJnlk4nt wt In th• Nf• of th• comnNN)ty. thwlr4 fxllMI￿ •nd wklNJ locol p•rtn•r¥hlp• wh•rMr poiilbl•. Il••ults lor th• y•v N•t fee Inc4m• for th• yur by 11.5% to £5,631k 12021: £5.051k). d*mtsn#tr4tinq the •t•rt of lh• r•cov•ry from th• Wd•￿￿. Told inc4Mno up by 7.vh lo £8.402k12021.. £5.972k) du• to w knprO￿rr0nt trading •¢lMilo• offwt by th• ceH•lkn ol •upport frorn th• w4•mn*nf• Coronthu• Job R•tsrth Sthrno Ihe prfor y•ar. Colts Incre48ad by 10.2% from th• y6*r ￿¥m￿9 kn ¥1 £8,695k r2021'. £8,077k) op•r4tknns relumed to nonn￿ folowlng th• wnd•mk. A• th• irthi•J• kn costs exc*eded tr• I￿offie, It rewlted irb not •xpendbJrn of £293k12021'. £ioe*). Oqpr•thkn coth rf £132k (2021.. £10Ok) w• kndudad In IM (*)8t ￿uleI *bov•. Il•wrv•• Poll¢y The Trusfa fr•• at y•ar4Th1 *nw)unt•d to £148k <2tr11'. £439k) repr•i•ntkig rnt•ined Unrn￿ In￿m• r•wvm. The Trust has adopled • Poli￿ of mglnt•lntsy fre• re8erveJ 4t A ￿e1 to Pfo¥6de rnasonab Tong1b￿ flx•d assets we hekl ty the TnAI for by th* s￿￿￿1 4lilwh there 41¢ Son* proporlgs that (xlukl dI¥￿t•d Should the need arl8e. N¢ts 1A lh• Tnufs a(ro￿tiry in rdJtin)n to assets. WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR ThIE YEAR ENDED 31 AUGUST 2022 Tha Govemorn. who 8eNed dumg thè year and up to the date Of8*na￿le ofthe financkil slat•ff*nts worn: A P CharnberfAii J M P Dearden S F Hamillon CJRthrt AS Roberts PA Hog8n I C K•nny Psrntt C A Dott￿11 Reverend Canon J D 8rewslqr L Houldlng M A Hunter H J Nelson IRe8vJned 8 May 20221 IReshJn8d 4 D0￿mb•r 20211 IR•$Ydnad 18 Nmmber 2022) (Appointed 4 January 2022) {Reslgned e Aprll 2022) IAppolntad 2 May 20221 (Appolnled 11 May 2022) (Appointed 8 June 2022) (Appolnted 21 September 2022) Audltor The auditor, J4¢k8on Stsphen LLP, 1$ deem8d to b• wppolnt8d und•r sthn 487(21 of1￿ Comp•nlesA(* 01oelo•ure of Inlornwtlon to audltor E8¢h 01th0 Go¥emord has ￿nf￿7•￿ that there Os no Infomwtbn oftwhi¢* they are 0￿re whlch Is r•lMntts the audit. but of whith Ihe auditor is unawgre. They hav• furth•r confimwd that thay have tak•n appr¢4>rl•t8 $1ops to denty such reie¥8llt infoffl￿n and to estsbknsh that the auditor is aware of such infonnation. Govfjmors, réport approved by the BoArd ofGo¥emor8. A P Chamb•rlaln Chaiman of Govemlr¥J Body Datod.. 2 February 2023 WINDERMERE EDUCATIONAL TRUST UMITED TIA WINDERMERE SCHOOL STATEMENT OF GOVERNORS. RESPONSIBILMES FOR THE YEAR ENDED 31 AUGUST 2022 The Go%wr#Jrn. T*ho alw d¥•ths of Ethx•lio￿ Tn*t Lin%ted the ol conw•ny law. ar• responsible for preparing the Govemors, Rep￿1 arvj tm financial slat￿￿nts in •cal *)r eath lIna￿￿ y￿r *thtch gr¥e a arKI fair vie* of the state of 4ffairn of the Trust and of ￿ incoming res0w￿ and appkaiion of h)duding If . st•t• wlthr appHcable UK Standath hm been f0kn￿. subhd to •rty m•teri•l departure• dludo8od and In the sI*m￿. . prepare the financ4al on the cfyxem bgth IB hwroixmts *) pTrwm¢ that Ihe Tft￿l wll ¢onlinue in operation. any time the financiel p￿rtM}n of Ihe TNSI ond enable them to ensure that the fir￿(¥￿1 statements ¢>)mpty with the Companies P4t 21Th. Th•y ore th r¢sponsl>le safe9uarthng assets of the TnJst for lakkng reason•ble stepj for IM and dete¢*on offraud and oll￿r wm9￿r￿lel. WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WINDERMERE EDUCATIONAL TRUST LIMITED Oplnoo Vrfe haw audthd Ihg financlal statemonts of Wlndemwre Eduralonal Trust Limited (the TNsf) for Ihe yo•r ¢ndgd 31 Auguit 2022 which eomprfs• tho $tatsm•nl of fin8n¢i41 athlvthu, tho bak1n￿ she•l, tm st8tsm•nt of ¢•ih 11ows And the nots8 to the flnanclal stat8ments. Indudlrwj a $umfflory of slgnlffcant aw>unllng polldo8. The finandal po￿n9 fr•m8work that has been applied in their preparat¢on 18 app1t￿ble law and United Kingdom Accounllng Stsnd4rd¥. Induding Financi81 RepoTUng Slandord 102 Th8 Fin8nci81 Reportlng St&nd&rf 8ppIIc8ble in lh8 UK 8nd R•pulkn oflreland IUnit•d Kingdom G•n•rnlty A￿apta￿A¢CoUntIlyj prad1￿). In our oplnlon, th• flnand•l stat•m•nts'. 9￿0 • Im• and fair vt•w of the th of lh• ch4fknbl• compaW• aff•lrn A• at 31 Augu•1 2022 of It• Incoming rnsourc•i ind app11￿on ol re•ourc•$. IncI￿lIng tts Inc•m• Ind •xpendllurn. for tho y•ir th•n tndgd., h•v• b•en prope￿ prnpar•d In •KOrdan￿ tfvAth Urdl•d Klngdom G•neralty Acc•pt•d ACcO￿￿n9 P￿. •nd h•v• b••n pr•pIr￿ In accord•nc• wrth th• r•qulr•rnont• of th• Comp•nl•• Act 20CK8. 8a•l• for oplnlon Vl• conduthd our •udtt In •¢cOrd•n￿ wlth Inl•m•lbon•l Sl•ndwd• on Audlllng IUKI {ISA• (UKII ArKI •pplc•bl• l•w. Our f•8ponslbJlAle4 undor th0￿ It•nd*fdi if• furth•r d•8¢n'bed In th• Auditor8 m8pons1￿.bts0a for Ihe èudlt th0 ffn8nclal statements 8ocl*)n ol our roport. •ro Indopondonl ol th• Tru81 In •c¢ordonco wjth th• ethic•l r•quifem•nt8 Ih•l •re r•￿V•nI to our •udit ol Ihe fingndg18t•tement8 in th• UK. Includlng the FRC'8 Ethkal Standard. and ￿ ho¥0 lulNll8d our oth•r elhlcal reiponilbllltl•8 In 8eeord4nce wlth the￿ r￿Ul￿mOnts. IAkn bolknv• th•t the •udlt ￿Idenc• w• h•ve oblalned li iufflchnl •nd 4pproprlAt• to PfO¥td• a ba•li for our oplnlon. Conelu•lon• Mtstlfii to goln• conc•m In •udllln9 lh• fflnond•l •to1oments. hav• conduded that th• G¢w•fflorn' of IM goln9 conc•m bul• •wounllng in tho Pr•￿￿￿0Th olth• flninclAI it•t•m•nts th lpprnp￿t•. B*8•d on the worf¢ w• ho¥• p•rform•d, w• not Idan￿lled •ry m•t•rlo1 unc•rtalntl•s r•l•llng to •v•nls or c0ndl1kj￿ th•t. Indlvtdu•lty or colb8cllv•ty, Iiw c•it •lgnlflcant doubt on th• Tru8f• ibllty to contlnug •• A golng nc•m for• p•rlod of•t l•••t twth month• from wh•n lh• fln•nd•l it4t•m•nts •rn authorlmtt for IMu•. Our r•$pon81biliti•$ •nd th• r••Po￿lbIIl1kn1 of th• Go¥•mor¥ wlth rn4p•ct lo golng wic4rn •r• d•Krfb•d In th• rnl•v•nt I￿nI ofthl• rnport. Oth•r Inlomi•llon The oth•r inforn•lon the Inclurt•d In Iho Annuol fwort other thon th• fin￿1￿1 •t•teffrdnts •nd our audilof$ r•port th•roon. Th• Govomor¥ Ar• ro•pon•lbkfj for th• of￿1 Informatlon contsln•d wtthln th• •nnual r•port. Our oplnlon on th• fin•ndJl •tgtorn¢nts dogs nol co￿1 the olhor Infomwlion and. •xcept to th• exi•nt 0lh8rwl8¢ 8xplldtty 8tatsd In our report, we do not expreB6 any fomi of a8suranco conclu8lon Ih•reon. Our r•sponslblllty IB to read th• other Informalvjn and, in doing w, conJid•r whelher the other inform*ion muleri•l IrKon8i8t•ni the fln•nd818tatemenl$ or our knowledq• obtaln•(I In the cour•• of Ihe •udlt. or olhepwlo• opp•8r8 to be mylerialty mleit•tsd. If wo id8ntfy Such mat•rio1 in￿nI￿at•nC1•S or appar•nt fflat•rlal mSsstat•ments. w• •r• Y•qulred to detemilne whether th18 gfves rkn to 8 Mate￿11 mls8lat8ment in ih• fln•nd818tatsments them8•1ve8. 11. sed on the woth we ha¥• p•rfom•d, w• concbJd• Ihal th•r• li • malorial ml•8l•t•m•nl of th1• other Infomi•llDn. w• aro r•qulre¢Y to report th8t f•d. We h•ve nothing to report in thij r•g•rd. Oplnlom on oth•r m•tt•rn prucrlbed by th• Companio• Act 2006 In our opinton, b•s•il on th• work undertak•n In the course of our audil: the InlomTrallon given In the Gov•rnorn' report for th• financial year for whlch the fin•nci•l sl•t•rr•nls •r• prepafed. which includes the direclorn. r•port prepared for the purp08e8 of compary Iw. Is con8i#tent whh the nandal 8tatem6nts; and the dlre¢tt>rn' wport Included ￿thIn thè Go¥omor¥ rewl h•B been pr•pr•d In accord•nc• vAth appllcabl• legal requlrem¢nts. 10- WINDERMERE EDUCATIONAL TRUST LIMrrED TIA WINDERMERE SCHOOL INDEPENDENT AUDrroirs REPORT (CONTINUED) TO THE MEMBERS OF MNDERMERE EDUCATIONAL TRUST UMITED Al*ttern on ththieh M arn rnqulr•d kn i•port ty exwtion In the Itghl of th¢ kn¢y*Aedge and ￿derSta￿lI1n9 of th• TN* and its en4wonmenl obtsiM¢J fin Ihe ￿ul$• of the •udbt. We have Mthing to report in res￿￿ al the lothxthiThJ m*t*rn h) relblkn to whk* I￿ comp￿leS Art 21X)8 requtrel to report to you rf. kn our oplnbn: 8dequ8le 8ccounllng records bew k•rt adow ow Iw¥e ts•￿ recthd from bran(*es not Visited by us: ha￿ not receNed the inbmwlion and exptsrTralKins we req￿re for Ow8￿11. Re*poMlblllll•• of Govemorn As explained more lulty in the 8tatsThrrt ofGo4wnorn' th• Gowmors. allo the thre¢*orn of the Tr￿t for Ihe puw of ¢r#npany Iw. are mponJble thy tM prwralY￿ of the financi&l Statements for beNig $8UsW that th￿ give a true and f¥* Trtw. and fry In*mal control ￿ the Go¥ernors dIt￿mITre Is ne¢8ssary lo enable the prep#Ation of fi￿n¢la1 slatemenls that are free frvm n%*rial missl*emenl. whether due lo fraud or error. In prtparing the fin8r#Sal slatenwts. Ihe are responsible tr assesslng the Twsfs ablty tsi ￿nIInue as a going ts)n¢em. ￿￿10$¢n9. as applK¥ble. mallers relthd to go￿9 c<>ncem and usiw t going o)ncem basis of a¢￿untIng unleu the Governm eltw •)tsnd kn Ikytste ts dwritable company or to ase opwat5on8, or have no realott aft¢rn•tNe but kn do ￿. Audltof• r••poMlblllll•• forth• •udll gl th* fin•n¢Lg1 •lat•ffl Our obh¢￿¢S arn to obtain reason*Jle assurance about whether Ihe fmncial Slatsme￿ as a wholp are frm) material mtsststem•rt whethw to frvAKI or error. and io issue an audiknfs repDrt Ihat Includes ow opknlon. Reasonable 8uuran¢e Is a high level of a8wJra￿ lyjl Is nat a gu￿tee that an awjit o￿auct•d in •c¢orylarK0 ISAS (UK) will detect a moterol misStaten￿ f*then it eKsts. Missiateftxnts can arise from fraud or error and are comidered mateiial ff, lThaNk￿911Y or In the 89gregite. thvrf rgasonabty be expectsd to Inllupnce lrnegul8rlties. Indudlng fraud. •re InSlan￿ of n¢#F¢onWb•nco wllh and reguktions. IA* procedures lkn• wlth ow responsi￿&￿e8. ¢Kthned •bo¥e. kn deted rnateri￿ mmlaiements in re$pe¢t of lThegulaiilieB. Indudkng frgud. Th• extent to our pm(*dwes ore capabkn oldthdiry irregularti￿. iKlwllng frwd. is detaled beh)w. mpliance wilh 18wJ #nd relaw to. lyjt were f￿¢ Ifmited to. the Conyan*s Act 2006. c￿n￿e5 Act 2011, employment pen$knn and heamh and 8afety and r•gwlatK>n tr￿u971 the Charty CommkssSon for Ertg￿nd and ￿leS and we consider•il th& thnt to wtiM*b Thm•c4mpr￿n¢e might have a material effecl on the financial #tstemerrt3. Vle also 0)nsIde￿ those and regulat1￿5 that a dtract wry8tA on the preparalion ol (ind￿lift9 th• risk ol ovenide of controtsl arwj detem)Axd that fv winupal rl8ks were rnlated to m￿99￿nI bks In accounllng estirnat•s aThliJdgemits and Ihe offrauduknrt I￿nue recognit*)n. pro¥i¥lo￿ of reknnt * and regulabons des(¥ibed ￿ h•¥iThJ a thr•d effert on the ffin•n¢i￿ s¢at•ments: 11- WINDERMERE EDUCATIONAL TRUST LIMITED TIAWINDERMERE SCHOOL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WINDERMERE EDUCATIONAL TRU8T LIMITED •n4ulrOng of min•g•m•nt •boul •clu•l 4nd pot•nllal litl9atlon and clalmi. Ih•lr poll¢￿8 and PrO￿dur•I to prnv•nl and ¢•t•¢¢ fr•ud •• well •• vth•ther Ih•y h•ve knowledg• ol any •¢Xu•l. 8uipect•d or •1kng•d fr•ud', p•rfofflilng •n•tyll¢•l proc•durn6 lo Id•nUfy •ny unuwal or un•xpoct•d r•1•lhx￿h*1 th•t m•y Indlc•t• of m•t•rial mlMiat•rn•nt du• to fraud", . Mding mlnut•• of me•tln91 ol thom ch•ry•d wlth go¥om*nc• •nd rn¥lvAlng Mgulthry coff•wd•￿ wlth ' obt•knlng •n un¢J•r•t•ndlrq of wo¥knlM•'. . In •ddr•••lng lh• of fr•ud throu9h mana9•ment o¥eThklfr of ¢ontrol•'. t••llng th• •ppropil•t•n•M ofJoum•l .' •M•s•lng T•&th•th•r tho ••llrrats8. jud0•n￿lI Ind d•dBlon• mid• ty mw•9omont Inthcth• of • pol￿1￿￿1 tA••,' and ev•kMtkng th• l¥Jth•M f*lon•l• ol *nNk•nt Ih•l •r• Unu￿•1 or (Art•Nl• th• nomK•l of bui¥ieu. mefflb•rn Ind v•m•**d •l•rt kn •ny o11rn￿l or noTrcoriWlknc• wfth l•w• •nO T•v￿￿OnI th• Th•f• •T• Irt￿rtnt Ilnthlknl kn ow •udl Pro￿￿r•I d•K¥W *bov•. Th• T•nKw•d that IM arrtl ￿9￿•110n$ w• from th•nd•l tr•n••dkN. th• 18•• Ik* It l• th•1 w• t￿￿￿10 b•c4)m• •w•r• of rthwll•ne•. A￿111￿9 thndwd• al•0 th• audlt w0c•dW￿ rnwk•d to Id•ntlfy noTrcomplkn¢• t*lth l•w• •nd r•guI•¥0￿ to •nqulry ol lh• dir•¢M •nd olh•r m•n•gement and th• In•peciion ol rngukntory •nd l•yl corr••pond•nca. Ll •ny. M•t•rt•l nSut•t•m•nts tho1 lo frwd b• h•nl•r lo d•t•cl Ih•n tho•• fmm •mr ￿ thry m•y In¥ofv• d•4b•r•l• conwlm•nt or cdlulion. A furth•r d••cripllon of our ￿￿OnI*Ji111l¢1 ly th• •udR of the fln•nd•l thl•m•nts li loc•t•d on th• Fin•nclAI R•portlrvJ Coun¢ll'• wèb411• •L' hlty..Ihrtw.fr¢.org.uW•udllor•r••pon•llJlN￿l. Th1• d•ICrf￿n fomx part of our audlloV• Mport, U•• of our r•port TN• I•￿ l• m•¢Jt I0￿￿Y to the charfthbh comp•nl• m•mb•rn, •• • body, In •CC4fd•nc• wlth Ch•pler 3 of P•rt 18 OIIM Comp•nl••Act 2006. Our •udll work h•• b••n unO•rt•k•n •0 th•1 w• mlghl •t•t• lo th• ¢h•rt•lJ• comp*nYI M￿rI tho1• mott•rn we •rn r•qulr•d to st•t• to th•m In •n •udltorfi rnport And for no olh•r purpose. To th• •xtont p•milit•d ty l•w, wo do not 4C¢•Pt or *i•um• r•8ponsIbl￿ty to anyon• oth•r than th• thorttabl• comp•ny •nd the ¢h•rll•bl8 c(#np•ry'• mwnb•rn •• • body, lor our •udlt work, for Ihth r•port, or forth• opknloni Epla P•l•rAthlnwn F.CA (8•nlor8tstytory lor •nd on b•hall of J•ck•on St•plwn LLP 0310212023 St*tsrtvy Audltor Y•w Trne Ch•Nrn 3￿D 12- WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL STATEMENT OF FINANCIALACTivmES INCLUDING INCOME AND EXPENDMJRE Accouiir FOR ThIE YEAR ENDED 31 AUGUST 2022 Currnntflmnethl y•ar Total fvnd• nd• 2022 2021 DOn•1k*￿ #nd l•g•cl•¥ Chaiilable adi¥ibe• Oth¢r tr•dty Inv•8tm•nts 4.(KlO 5.930.141 407,W3 248 4,114 6.692.372 276.311 5.930,141 467.503 246 Total I￿am• 6.401.890 8,401,890 5,971,797 Ral•lw lundl 151,650 IS1,4￿0 104.730 Ch•rft•bl• •thll•i 8.421.132 .421,132 6,8T2,5W2 13 120,317 122,113 99.971 T*)tsl rn•ouvt•• •xp•nd•d 6,th13,099 1.796 6.894.895 8.077.299 P4•1 •xp•nthiv• forlh• y••rf N•1 mov•m•nl In lufid• (291m) 11.7961 1293.WS) (105.502) Fund bal•￿•& 111 S•O•ff*•r 2ff21 438,754 20.047.815 8292 20.4V2.ee1 20,598,183 P￿d bal•￿•• at 31 2022 147.W 20.047.815 4.498 20.199,856 20,492,861 I Ind •xpn¢ltUM del1￿ from conllnulNJ 8th46U Th• •tst•m•nt ol finan)￿ acti¥itiM •l•o o)nwlkn• IIKI r•Wr•m•rbts •n In￿rne eXp￿d1{Un Iceo￿t und•r th• CMwniuA¢t 2(Xl3. N•1 In￿me1<•xp•￿dII￿r•l b•for• ¢*r•dthn far th• y•wknlal•d q181.10TI (2021.. £54,958). 13- WINDERMERE EDUCATIONAL TRUST LIMITED TIAWINDERMERE SCHOOL STATEMENT OF FINANCIAL ACTMTIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022 Prforflna￿I•I y••r Unr••trlct•d Unr••trl¢t•d RMtrl¢t•d funds fund• g•n•r•l 4lMlgn•t•d 2021 2021 2021 2021 Dono1￿?￿8 and Charilabkn act￿{1688 Oth•rtr•dlng •ctf4iti•B 4,114 4,114 5.692.3n 276.311 5,892.372 275,311 Tot•1 lrtam• 5,967.883 4.114 6.971.797 Ralslng fvftd# 104.736 104.738 Ch•th•bl• •clfvMI•• 6.872,692 5,872,592 Qthér 13 99.971 99,971 Total r••our¢M •xp•nd•d 8.077,290 8,077,299 N•t •xp•ndllur• far th• y•*rf 14•t mov•m•nt In lund• (109,818) 4,114 1105.602) Fund b•knnc•• at 1 Swtember 2020 648.370 20.047.816 2,178 20,598,1e3 Fund b4l•nc•• •131 Augu•t 2021 438,754 20,047,815 6,202 20.492.861 Th• •t•lem•nl of fin•￿1•1 •¢tt¥lIl￿ IndUd￿ all VIM ind loM•i (•cognl••d In th• ymr. Al Incom• and •xp•ndllurn d•rfv• from wnllnulng •thlkn•. The tht•rtwnl of fmnd•l a￿￿tleS al￿ compri•• wtth th• f•quk•m•nts •n Income •nd •yndllurn ac¢ount und•rth• Cornp•nl•okt 2006. 14- WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL BALANCE SHEET AS Af31 AUGusf2022 Flx•d ••••t• T•ngibh •¥••ts CurrnntaM•ts 14 25.1￿.1)Se 25338,958 15 O•btorn h at bank and Sn hand 298.057 1.422.814 310,078 1.897.59) 1.728.40J 2213,691 Cr•ilStov•: •mount• du• wllhln on• ywr 17 P,104.0201 (a.￿5.380) Nel MbIlI￿• (1.436.21n (871,777) Tot•1 a•••ts l••• curv•rt Il•blllll• 23.732,839 24,367.181 Cr•dltorn: *mounl• l•llng du• •ft•r mor• than on• y••r P,$33,1831 13,874.S201 20.199.858 20.492.eei In¢gm• lund• Re•trfcted fun D•8lgn•t•d fuiid Unr••lrktsd fvnd•- g•n•rnl 6292 20,047.815 438.754 20.047.815 147.54S 20.199.858 20,4W2.801 Tr• thin(a*l •t•l*n•￿ w•rn •pwo¥•d ty the GmmcK• 2 F•bnwy 2023 A P Chmb•rf•kn TnMts• 15- WINDERMERE EDUCATIONAL TRUST UMrrED TIAWINDERMERE SCHOOL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022 2021 342.047 171287 In¥•￿rt9 •thlll•• Purchase of l•r44ble fml 8s8ets Interest patd (61.996) (122,113) (17.478) (99.971) Net ￿•b u••d In Inv•gtlng acth 1183.lJ63) {117.4491 Fln•n¢ing •¢ti¥lt Fees in advance s¢hw Proc￿dS from bank Repayment of bank loans (443.828) (393,7921 2.OCLI.OLKI (140.￿7) (189292) Il•t cash {u*•d InVg0Mratsd from fiNn¢ing athltles (633,120) 1.465251 N•t (d•cr•as•yknGTrue In c••h *nd ￿•h •qulvalent8 (474.938) 1.619.060 C•¥h cBsh eqJi¥thnts at ofyew 1.897.550 378.481 C••h and cuh •qulv•l•nts •t¢nd of yev 1,422,614 1.897.SS0 18- WINDERMERE EDUCATIONAL TRUST LIMrrED TIA WINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 ¢owfflng poliw• Charfty Inlorniatlon Edu¢alknal Trust Is a pr* (YJnW￿ry IiTiknJ ty guarantee in En*nd wd Cufflbrfa. Lfv23 1NW. 1.1 Accowrtlng conv•ntlon Conynle$ A(* 2008. FRS 102 Yhe Fin￿￿•1 R•ptybre Stsnd¥d •pplicabl• kn the UK and RepublK of Irelan¢r rFRS 11Y2? and the Charlties SORP "Ao>)untlng grrfl by Chariiies: Stat¢Thv4nt of Recommended Placlice appl¢•tl8 to chathes yeparfng their a¢xounts in a¢xordance 7hith the Finanoal Reporting Standard appbc*bl• in UK ond Repubk of Ireljnd (FRS 102)" g¢tslion that the Trust ha8 adequate resowces tr) ti)itinu• in opwab.onal existertt for the foreseeable futwe. Thus the Gov¢mo(s to adopt goiTrJ c￿nr￿n basis ofarayjntkng in prewwig the finynwl staternents. 1.3 Ch•rltsbl• fun Unrestricted fund¥ we •valJl* knr at the th• Gwnors kn ol thelr thwitable ¢JbJ8dw•$. DO￿9n￿ted funds funds ha¥e I)e￿ $8t as#la •t tr* th8¢x•ion of the G¢)¥8mrys for purposes. The purwms •nd ofthe desiun•ted funds w• 8et*)ut li lh• th• fiMncl•l Re$trfaed furrfls arg subpLI to speufK COTh*￿￿8 by donorn •$ tw nw b? wd. Th• pur￿8$ and uses ofthe r¢¥trtded funds ￿ set in the rntes to the fmanuol staleffl￿ts. 1A In¢om• the ¥mounl8 can be nwa•w•d relabty. Is yobablp thal knc*me f*lll be rncelved. of IM don01N￿. smless perfwmanr* conthtions rewllre delemil of the amount. In¢ome tsx re¢overgbl• In r•tslh)n to dmotions rec*fved ur*der GiftAid or deed5 of ¢J)venarrt is re￿￿3¢d èttr* time of the dongtic+n. Income fmm tradiry oclriibes incknJ•s income eamad from e%*nts tr¥￿Ing to r¥i88 fvnds for the ¢*arty. Income o ferxNed In eX1*￿￿e for 8upptying the 8er¥icu in order to ralse -17- WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR ThIE YEAR ENDED 31 AUGUST 2022 Accounting pollcl•s Icontlnued) 1.6 Expendlturn AN expenditurels acc¢untod for on on acwals bg$1s and ha¥ been cla80ifiod under heading8 that aqgregala al costs reL41•d to lh¢ ¢gt•gory. Expendilure is ￿￿19n13¢d where there 1$ 0 10981 or eonstnjctivo obJlgAllon to make pgymentB to thlrd paths, It l# probable thot tha sattl8m8nt wlll be requlred and the amount of the obllgalbn be meajured reli•bty. 11 is c•t8gor15ed under the folkn¥ino headings: Costs of raislng funds incI￿at$ all ¢osts essodated wlth rnbskng funds for chaibtable purpose8 and indudes all c08ts 4SSOtyOted whh nonVe￿bIe VAT 18 chwged a$ a cost •gJln8t the aclp4ty for whlth the expendAurewa8 incungd. 1.0 Tanglble Ilxed ulets Tangibkn fixed assets are inib81ty measumd Ot CA)St and subsequenty measured at cost or valuallon, net of depwiallon and any impllirment losses. D8pred8tlon i* rett•gnised so 88 10 wrlto off the cost or wlY￿￿n of 888ets1888 Ihelr re8ldu•l ¥41ue8 0￿r thelr usefvl lfvès on the followng basos.. Free1K￿d bulldln98 Fixiure8. flttlngs and equlpmenl Motor ¥•hlths YA per annum 8tr•ighl line ba818 10% to 33.3% per annum stralght line b88 25% per annsm •tral9hl Une 09$15 No provk8ion for deprecialion of athool bulldlng8 Is made 0$ the trust ca)nslder8 that the estimatsd u8efvl Imè of tho bulk11n￿ Is so long and the residual value $0 hKJh thal any deprecialton charyed is not matwial. either 84ch year or cumul•tvAty over the useful economic life of the a85et. The gain or loss arfsing on thtr di8P08al of an a88el Is delemiined as the dfflerence bett￿0n thè lala procoeds aThl the ￿ryIng value olthe assoL and15 r•wl¥od in net irMmel(expendbture} k*rth• year. 1.7 Imylrnient of fixed a$8•ts At e8c* reportlng end date. the Trusi mtews the corylng 8mounts of its tang￿18 a$strts to detennlne wttether Ih8re 1$ any indkation that ¥ssets hov¢ suffered an impairn*nt kxs. If aw suth indi¢8tlon exfists, th• recoverable amount ofthe as8¢t Ès utim•led In order lo detemilne tm frxlent ofthe imp8irff*rt1088 01 any). 1.8 Sto¢k* Stock8 are #iatsd at tm low•rof eA)St an& e8tim#ted sèlling prlce le88 C4Jats to cJnts pr•s•nted kn the lkn•n¢W •t•lemenlJ. Ih8r• Is a hg•1ty enforc44ble r*ht to set off th? •Tr￿Unts PA thw• kn •n knlenyon to s•ltlo on B•8lc fln•nd￿ au•ts. whlch dobtorn •nd c•8h •rhJ b•nk ￿lanc41. w• knltlalty fflèaiurnd at tran￿cl￿￿ pts Inc*JthNd tr•nM¢lth coth •nd ar• JubMw•nty carried ot •mortlMd colt uilng t effod¥e Inlemt m•thod unkns tho wrnng•m•nt Co￿￿￿t•S • frfbAnary tr•rM•ctKm. whern lh¢ Ir•n8•ctlon bl M￿￿T•d •t the pre••nl ¥•1* of futW• Teraipts dbscount•d •1 a m*knt rth ol fjntsr￿. Fii•nci•l •M•ts d•s•ffl•d u r•￿tr￿•bI• *4thkn on• •r• not Thrtkn•d. Flnandal Miéts. oth•r than thom h•hJ 41 f* v•hJ• ttryih kncom• •NI •xp•ndhur•. ar• qu•Mod for Indk•torn ol Inwknxnl •1 ••¢h r•porfln9 d•t•. FIn0nd￿ •swts are IrTylr•d Thth•r• th•r• b• obj•c•v• •vlden¢e th•t, as 4 r•8utt of on• or nwx? fj￿nts ocoJn•d ￿Orth8 roco9nltkn ofth• lkn•nd•l •sMI. the ufjm•t•d fvturo c••h b••n •ffe(Xed. N an •88•t IB knp*lMd. the knOrff•nt lom Is ts Qhl•rm b•t*•on th• ¢•rykng •mo￿t •rKI th• pr•Mnt ¥alu• of lh• ￿$h fv•A dlK¥JJnl•d •1 th• •••¢f• or4iln•l eife¢liw ￿bI•rnst r•t•. Th• ImP•kn￿fit lo•$ li ra(xg￿1d In IncoM&{•xp*)J￿rn} for th• y••r. 11 Ir¢•rn th • dory••￿ In th• knp•kn*nt •Tiliry from *) trenl ocoJrfrKJ •fter tho Imp•lmiont w•1 r•Mgni••d. th• knp•lTh•nt kn r•v•rn•d. The f•￿￿•1 th•t th• ￿TIOn1 ￿rykn9 •mount do•s not •xc•8d wfvl th• c•rryln9 Af1K￿nt tse￿, h•d the hwmxnt not b••n r•wgnl••d. Th• Impalnngnt r•¥ornal is recogni￿1 kn nfrt In￿m￿(•￿PendItUr•) krthe y••r. Fln•nd•l •uet* *r• d•r•ts)gni*l Wh￿ tho contr•clM* W trj I￿ from th• •*r• or are s•ttl•d. or whw the Twsl th• ffinwKK41 •ss•t and substsnuaty all Ihe wisks •nd ￿rdI of rlhlp lo 8Th)th•r •ntty. or bf •vJnmwt ind rthArth of ¢)vm•rnNp arn rntslne(I but c¢ntrol of the ••wl h•• tr•n8hnd Io WKAh•r party Ih•t l¥ *bl• kn Mll th• •M•t •) bts entwety *) •n vnr•l•t•d thlrd p•rty. 8•¥k thr￿n¢la1 IL4blNlle•, mdrtorn bank •r• kni11￿￿ recognkmd at trnni•ctbon piico unlo th8 •rr•ng•ment consdtut•s a frfwndryj I￿•￿￿n. T*here the debt •18trwrnrrt b m••$ured at th• pr•Mnt luo of the firture paymerrts dlscourrtod 41 * rnts ol httw•sL Fkn•rKil Il•blMti•J dwI￿d 48 payob witlwn one yw •r• not Trad• cred*orJ ¥rE obl*3otion• py for goods or s•Thr•s Ih•t bfjon awlr•d kn th• orthnwy course of opernlions from $upplOern. AJMunts payable are dasslfied as ¢XWTent NabfiliBS rf paymont li duo wlthin om year or le88. 11 no¢. th•y arn present•d as ThMHyJrrenl liabillbes. Trade rnditrJrn a￿ rO￿nIsed iniliwty •t tr•nsa¢tth prlr* and subsequenty rneasured at *Th)rtI￿ Cost the effe¢trM Interest nxthod. D•r•¢ognldon of fin•rti•l li•bililie• Finanoal Imblths are derec4ntsed when th• Tnmls expire or •r• dild￿r9ed can￿lIed. -19- WINDERMERE EDUCATIONAL TRUST UMITED TIA WINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 A¢¢ourtlng polkl•* (Coniirn*dl 1.11 Tamtlon The charitabki l• ￿M￿Je￿d tt+ p••0 the te•ts •ot P•rIgrn￿ 1 S¢*wdul8 8 Fkn•nc• Act 2010 1.12 Employ•• I￿n•fft• The CO￿ of any uNMd holhl•y •nIM1•￿ kn r•c•gnl••d In th• wfvAI kn th• •rnth••'• ••r¥4M• •r• 1.13 P•n•lon b•n•fft• RebT•m•nt benofftl tr) •nwoy￿1 of th• ¢hfft•bl• C¥YTPWry •re prowW lyi T••¢tr•rn' P•n•lon S¢1￿m& {'TPS) and Th• P•nshJn Trugt Pkn. Thu• arn d•fl￿d bor*fft •ch•m•• *MI th• are hekl Th• TPS kn •n unfwthd •nd w• c•kA4•ted lo •• to w••d th• coAt of p•n8lon• 0￿r •mpli)y•••' wothlng lfves wlh lh• ¢harft•bkn cA>rryrry In th• pon8hJn co•1 bl • Sub￿￿1*1 levol p•r¢•nt•g• of ¢urr•nt and fuiur• penI￿nIble PVrfToI. Th• ￿ntrIbUt￿n• •r• d•t•mln•d by tho Go¥•rnm•nl A¢tu•ry on th• basm ol qu•drnnn*l v4lu•llon8 a pro•pecll¥• UTh￿ method. TM TPS ￿ an unfund•d mu￿•￿￿￿•T 8¢h•m• T•llh und•tying •M•ts to •M&n b•tw••n •mp*w•. Conwu•nty. th• TPS 18 tr￿ted •8 • d•fined Con1￿U00n xhwn• for •nd th• cafttrltrA￿0M *1• fecognl••d In th• p•rloil *) Ihvy rdth. For The P•n•lon Tftmt PK•n. th• •r• d•hmth•d ty • qu•W •c4u•ry on th• bul• ol Iln•n¢*l v•lu•tion• U￿n9 a projected unrt ffthithod. Th• Penaknn Trult Growth Pl￿ k• • nwjllknmpwr •nd th•r• h suifKlent In(OmTr*llon *v•labkn to unlodt d•t•W b•nofft Kcount•. Th• plqn ts thorofor• tr••t•d as • d•flned conlrfbution fof •ccounlkng purpose• •nd Ca)ntribut￿l •r• r•¢ognlwd in th• p•rknd to tlw 1.14 Gov•rnm•rt grnnt• Gov•rnm•nl gT•nts r*￿1￿1 kn Ye8p•cl of Cororo4*u• Job sd￿rn• •r• Includod In oth•r In￿￿* wlthln ¢h•ril•bl• a¢lNltkn• •nd w• ar￿￿nt•d for on •n ac(¥uals b•th. In tr• •pplI¢￿knn of th¢ Trurfi *c(y)wthng pofths, th• Go¥•mcn •r• rnoulrnd to mak• hidg•m•nts, e8llmales and asJuiiWiryi¥ the ar￿n9 •nThint of •$8•1• th•t ¥• not rn•dlty •pparnnl from othtt low￿1. Th• •8Yn*ts• and •8￿¢￿•￿ ••¥umpllorn •r• bowd on hWrfcal •xp•r*nc• oth•r f•ctorn th8t •r• to b• r•lMnt fvAaual m•y diff•r frDm the•e e￿Imatel. eJtim¥te¥ are re¢ogniied in th• p•riod the e5￿MIle IB V*there the re¥lshJn *ffectB I￿1￿ that Th• hm lh• mKlu•l r•m•knth¥ ￿lu1 •ctyK#Trc Ire ofth• l•nd •rrfl bulkllngs Th• wwrytions regxdlTrJ the tre•lm•nt of Ihe Tru•f$ penwn xhemes wiltmn th• knandol #tstwn•nts h qLqo 11o•n ty)n•klw8d agoii thii y••r. t*lth no adJu•lnwbt to thertr•*Mnt o)n8bLlgred neiwsary. WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Don•Uon• •nd Wl lunds qener•l fund8 2021 Don•lon8 and gifts 4.114 Charltabh •di¥ili Unv••trlGied Unreslrthd funds funds 2022 2021 Net f688 5,630,942 5,061,039 299,199 841,333 5,930.141 5.692.3fd Oth•rtr•dlng a¢Uvlll•s Unr••trlct•d Unr8slfkted fund• funds g•n•rnl general 2022 2021 Summer 8thooJ Rental Incom? Laiering ina>m 422.861 22.317 22,325 189.486 86.123 19,7 othertradlng a&MII88 467.503 275.311 In￿lMent8 Total lund¥ g•n•rnl 2022 2021 Interest r¢cafvabl 248 21 WINDERMERE EDUCATIONAL TRUST LIMrrED TIA WINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (coKllNUED) FOR THE YEAR EIIDED 31 AUGUST 2022 A•l•lng fun lund• n•rnl 2022 fvnd• n•rAI 2021 Associ•ted sufflffler Id￿01 co Asso¢lot¢d ¢at•rlng a)•1• 131.969 19.681 89,788 14.968 151,850 104,n8 Ch•fftabl• a￿1¥1￿ 2022 D•prnd•tkn •rrfl knp•knwnl A(xdemk eo•ts 131.898 180.480 3,143,001 3,11)0,491 1,050,009 J6,705 1.027.078 720,072 740.653 709.438 68,778 86.060 235,314 178,488 13.923 11,912 Prop•ty C￿18 M•n•g•nKJnt and adM*￿tIon (Xher 0xpen￿l M•rkollrvJ colti 8,421,132 5,an,592 N•1 Mo￿n•nI In lynd• 2022 2021 N•t rn¥•m•nt tn *l•tsO ￿¢*•￿1￿ry•dlIl￿) D•pr•d•Uon ofown•d laTrJlbl• fu•d *M•l• 131.896 1eo,480 2022 2021 Audtt ofthe •Mu•I K¢ow 9,100 Trust duvbng Ihe yew. WINDERMERE EDUCATIONAL TRUST LIMITED TIAWINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 12 Employ• Numb•r of •mplviM• The average ￿￿nthlY nurthr ol•n*w tho y•w WM.. 2012 2021 Nwnb•r T•achlno #taff Ilarn Bt•ff M•lntsn•nce and g•rd•n• Admknoitr￿¥• •i•ff 10 18 119 W•g•• and Ml•n Sodal 8•curlty Ca Oth•r p•niknn ¢o•l• 3,379,803 332.041 534.150 3,392,007 319,653 528.133 4245.794 4.239.79J w•r•: 2022 b•r 2021 Numb•r £00,fy)1- £70.1X(I £110,001- £120,0 1J OIIMr lund• nd• fundi g•ner•l 2021 2022 76.883 32.458 87.513 Discounts on th• lo￿ kn •d¥•nc• 1,796 120.317 122,113 99,971 WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEMENfs (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 14 Tanglble r￿ed •¥••t8 Cosl orvalu*llon At 1 Sept•mbw 2021 Additions Dispwls 24.825.920 1.e67.055 18.011 43.985 {383,307) 33.382 28,528.337 81.996 1385.857) (2.550) At 31 August 2tr22 24.843.931 1.347.n3 30,812 26,222.478 Deprechllon And Imp•lnn•nl At 1 September 2021 DepreCIat￿ft ttAfged in the year Ethmi)ated li res￿1 ofthws 1270.3KI 125.693 (383.30n 18.989 6.205 12,550) 1.287J79 131.898 P65,8571 AI 31 Aug￿1 2022 1.032.778 20.644 1.053.420 Canylry *mount Al 31 Augu812022 24.843.931 314.957 10.188 25.169.058 At 31 A￿￿$¢ 2021 18,3n 25,238.958 Th• fraehold land and Ixthdknigs ha* bew TAW ty tr¢ Tnmton a depr•da1￿ r•pl9￿￿￿nI o)s¢ ba$Es on 31 ALryUSt 2022. At 31 August 2¢Y22. Iwd the ￿¥*jed assets been ￿[f*d 31 hlslork cost l•ss acuTrnA•ted deprec1411on and accumulatsd wnp•im*nt kJ88es. Ihet armunt fhnuld Pbave been aPpr￿Mals￿ £4.796.318 (2021: £4.778,￿1. Included tp*thln froehold knd and buldky kn an 01 £1.755,5￿ r2￿11. £1.755,5Q)) attr*uiabl• to land, which is not depreciated. lj Sto¢k• Food $tOL* 7.732 5,963 WINDERMERE EDUCATIONAL TRUST UMrrED TIA WINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEIAENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 2021 Amount• fMNlng TAANn on• yw. Tr8de debtors Other debtor8 129.169 109.988 9.(61 191,029 165,856 298,057 310,076 17 Cr•ditr•rn: ¥mo4Mts f•liry du• an• y•ar 2022 BarAE Iw$ OlhertaxalK>n and %Klal 19 196.935 89.039 1225.119 304.122 1264,892 84.513 285.811 818.306 164.372 1,540,677 71.746 Trade creditorn Olher ued110ry4 3.164.620 3,085.368 1• CY•ditor•: •mounts Wng du• •f* mw•than on• y•ar 2021 onk10on$ Oth•r crndlor8 3,132,183 401.CIJO 3.313,954 560.588 3.533,183 3,874.S20 19 Lo•M and ov•rdrnr 2022 Bank IDAns 3,￿9,118 3,518,410 Payabl• *ilNn yw Payabl• alknr one y 196,935 3.132.183 204,458 3,313.954 Payable by in8latrMnts 344.441 496.130 WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 (Conllnu•dl Thr•• bank loans ar• repayab* over ten fifteen ye*rn. The b)•n¥ M*iect to M internst r•te that Is equal to the Bank of England baae rats +2%. They afe secwed UP￿ cthtsln fr•èhobd lond and building8 held by th• School and a fthl trtb*liNJ L*•ry• otr*r¥s*ts. A Corona¥lru$ Bu8ln•u Intefftiptlon Loon w•$ ￿￿1¥•d ￿ th¢ prknr yur. r•p•yablg In 3 Thls 8ubj•¢t to no Interest in y•&r 1. 8.3% in year 2. and 8% in year 3. The loan li 4ecw•d upon cfAlain freehold lond •nd b￿1￿JA hdd ty th• Schtsol. 20 R••trfetsd lun The Inwrn ￿nd* of th• dw* Ind￿J￿ th• UMxp•nd•d of don•lon• and grants hold on In￿ *)f ip•dk pwpM•s'. In fundB ••lw•••t e¥p•ndltw• ••l•n•• ai H•rdthlp Fu 2.1n 6.2 (t.7981 Th• H•r(l•htp Fund w•# *•t to hdp wr•nts •ff•¢a•d C¢?￿11. WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 Tol•l Unr•slrtct•J D•signathd R•strfra•d fund fund 2021 2021 Totsl nd lund• Fund bal•n￿l •131 21)22 ￿ r•sYw•fit•d T•nglbl• •••ots Cumint au•tsllMabllltl••) 5,121,441 20,047.615 (1,440,713) (3,533,183) 25.189.056 5.191.343 20.047.615 4.496 11.438.217) 1878.CA9) 13,S33,1831 fJ,O74.520) 25,238,9S 1871,7771 13.874.520) 6292 147.545 20,047,615 4.496 20,199,650 438.754 20.047.615 6.292 20.492,881 D•￿gnal•d funth rd*ts to th• ol Ilx4d •u•ts. WINDERMERE EDUCATIONAL TRUST LIMITED TIA WINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (copinNUED) FOR THE YEAR ENDED 31 AUGUST 2022 22 Op•rnllng l•M• At rep)rtiw •nd dats th¢ Tru•t had oul#tsbThSng *x loa80 PAyffthts und•r non-cancelLqble ¢p•rntlng l••*•. du• M folm.. 2021 on• ye•r B•tween t¥rt* fv• y••rn 81,8n 132,191 59.817 214,084 137.358 23 R•l•tsd party traM•cd¢x 2021 004,828 812.667 A numb•r of Gov•moT• hmm thlhJT•n who 4it•nd th• 8<4￿01. Tho lee• p•hJ by tho•e Go¥emorn •r• on th• 4•m• 1•r￿ And coTh*t¥Th M 4rn ch•iged to w ¢)Iher p•r•ntt*tK> do•• •tth• •rJ¥>ol. A Govemor of th• xhool had • I￿￿nc• al th• y••r end th• 1cl￿1 under the a¢*4T4nce ￿emo •mounlng 10 £12912021. £25,7eai. OlKounts h•v• b••n gN•n th• •¢h•m• for th• th• ￿•r totalllr £821 (2021: £116). A Govemty ol th• 8¢hod had chl¢hn WI￿ allen￿ thè •ThJ In r￿1p¢ ol * bur8•ry. In lh• dur•Jon of Offl￿ of tho Go¥•n￿r th(Me thldrnn f•c•lv•d bu(MriM •ffthntffig to £7.709 In lkno wlth bur••ry *warth to oth•f thklrnn. l•mb•rn Il•blWty The ch•rlty no 8h•r• rapltal belrg a 0￿￿ntO•. EKh mombw Tr8 rnqulrnd to cothfMrt• an anJ)unl not •xr*•dk¥ £1 p•r h) th• ofa 8llu•Oon. WINDERMERE EDUCATIONAL TRUST UMrrED TIAWINDERMERE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (coKllNUED) FOR THE YEAR ENDED 31 AUGUST 2022 The S¢*ool pa￿lp￿te8 tn the Tea¢*ets' Pen8knn Stheme fihe TPg) for Its tea¢htng 8tsff and The Pensws Trusfs Gny#th Pkn for non slaff. Tr totsl p￿51￿ ¢horye for tr* ymr wo$ £535M7 (2021.. £528.133) and at the Ye#￿ £707 C￿1 .£65,970) ac(nwl in rMpe¢t of(￿1￿1￿110nts 10 thii xheffle. The Tead￿r5, Pens*?n S(*em ITPS) * a ststtiknry. ¢mtsIb￿Xy. deffined benefft ¥theme, govemed by the Teathern. Pension Re9￿3t*￿S 2014. Memknly is automatic lor fU￿tiMe teac￿r3 and. from 1 J4nuary 2007, ¥utomti¢ knr tèac￿1$ kl pwbtiffle empty￿ folryMThJ wo•)Inwrt or a than90 of contr¥¢t, •ttWh we able to 00 *yJL The TPS is an unfuntsd s¢heN* •nd m•n*ers contribute on a'pzrf as you go. basil- thele ¢ontr*yulk*ns long mad¢ ty empbyws are (¥8drted to the Exchetyjer. Reiiiement ond other p8nsh)n are wl ty p￿)11¢ pr￿4*1*d ty Parl•menL The Government AL*J•ry. using nomwl ￿kndp￿. fDrmal aL*JarAI ofthe TPS accordance wilh the P￿11¢ Sarvic* Pens#)ns {vak￿liOnS and Eryylryyer Cost Cap) Directions 2014 published by HM Tr•asLry. The •m of the i5 10 spoify the IMI of fi￿re ￿nIn"bUt￿7nS. Actuarial heme valualk￿* are depeThlent on assuryb￿S ¥t￿yt the v*8 of ￿t￿re Iwts. design of beneffts and many other factoi¥. Th• latest Valuthn of the TPS was rarFied out 88 * 31 M#r¢h 2016 ONI accorfan¢e wltrj tho PulK¢ Swrfe Penslons C¥abJat*Jns •ThJ Empw Cost Copl Oir¢¢bon$ 2014. The lu•kn r•port was pubW*d by Ihe Oep•FtrMnt Educ•1*￿ on S 2019 The key elemerff¥ oflhe Val￿t￿ #nd subsequent are.. • employer ¢onIrfDu￿on r•l8$ let al fd.88% of peNionabl8 pty (*KknJlThJ a 0.08% employor adrNnislralh?n charge) . lotsl ￿orne Uabiifdes Ipens#XM ¢xirenty in poyrrwl •rKI estlmale(I cost of fiJIu￿ benefrt3) for to the effedTr￿ date of £218.1¢JO nilon. •NI rrfrtt0￿ assets (estimated fuiure ¢ontributions togethw with the noti￿•1 in¥ests1w￿ P￿Id at the ¥0￿*￿1n d*) of£196.100 nwlion gmng a nollonal past 8eThk4 defiot Of£22.(￿ . on ¢0# cap of 10.VA ofpeMV)n•bkn p•yw• Ix •ppl•d to vaknaliti The TPS vakwkn for 2018 dderrri￿ an enyh)yw r•1• of 23.08%. which wa5 payabte from September 2019. The next Va￿81#￿ of the TPS be based on the March 2020 dala. *thereupon the enyloyer contribubon rate Ss expethd to b• rt•88¢s￿ ¥rfl wll ￿ payable from 1 September 2023. trust has accounted for ¢ontnkn ic+ th8 thme 85 rf il ￿re • delned ￿ntrIbutIon xheme. Th• WINDERMERE EDUCATIONAL TRUST LIMITED TIAWINDERMERE SCHOOL NOTES TO THE FINANCIAL STATLMEKrs (coKnNUED) FOR THE YEAR ENDED 31 AUGUST 2022 2021 Defmit *)rth• yew 1293.0051 (lo5,5￿2) Adjuslments tr. (2481 f 22.113 131.898 Inlerpst paKI 99.971 180,4eo {IbKrnaSO) In sknck4 O¢ueosWlln(naso) In debtors {Deu¢ase)fincTrose in uedittys In¢xease in defeThed oxome {1,7691 12.021 135.7781 4(￿,813 (810) (1S9.621) 174.109 342.047 171.267 27 Analy•kn of ehn#e* in na (debty Cash at bank and in hwwj 1.897, 1474,9361 1,422,814 Loans faling due Wilh￿ ye¥ Loons fallng after than onè year (204.456) (3.313.954) 189292 (181.7T1) 181,771 (196,935) (3.132.183) (1.620,860) (285.844) 11.9C6.504)