2023-08-31-accounts

Tettenhall College (Incorporated) (A company limited by guarantee) Annual Report and Financial Statements For the Year Ended 31 August 2023 Regisiered Number 141727 Charity Number i28617 Tettenhall College A LEADING DAY & BOARDING SCHOOL FOR BOYS ANO GIRLS. AGED 2 - 18

TErrENHALL COLLEGE (INCORPORATED) (A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPIT AL) Siatemen¢ of Financial Activities for the year ended 31 August 2023 Contents Page: Governors. officers and advisers Atujual Report of the Governors Strdlegic Report Statement of Accounting and Re￿rtIng Responstbilities 18 Independeni Auditor's Rewrt 22 Statement of financial activities 23 Balance Sheet 25 Cash floiv Statement 26 Notes to the financial statements

Tettenhall College (Incorporated) (A company limited by guarantee) Governors, officers advisers Governors, Dire¢tors and Charity Trustees The Governors of Tettenhall College ("the College") are the College's charity trustees under charity law and the directors of the charitable company. The Mem￿[$ of the Gov¢rning Body served in office as Governors during tlie year and subsequently are detailed beloiv. Mr J F Woolridge, CBE, DL. Bsc (Hons) (Chairnian) Mrs J Parker. {Vice Chairman) MBE. JP, MCSP -08 Mrs C L Hammond, BA Mr S Maddox A.B. Eng ACIOB Mrs S J Isbister Mr A Wynne LLB (Hons)~ Prof S Chung JP FCIOB MRICS FCABE PPRIBifj+ Mr M CatTrey BA {Hons) ACA ' (Resigned 13 September 2023) Mr T J Bc¢ch MA Mrs R Sidhu LLB (Hons) Mr T P Bruton BA (Hons) Econ, FCA (Apwjinted 3 January 2024) Metnber of Finance Commiltee Mctnbcr of Planning & Estates CommTttce Metnber of Education Committee Member of Marketing Committee The Executive ComTnittee sits as required and is constituted of Governors appropriate to the task. The Governors are elected at a lull Council of Governors meetiiig. The Council of Governors coi)sists of a Inaximlim of six nominated Governors and nineteen Governors apwinted by di¢ Council of Goyemors. the nominated Governors being.. Not more than four members lo be nominated by the United Refomied Chur¢h or ils svc¢¢ssor. Not more than Iwo members to be nominated by the Baptist Union ofGieai Britain aiid Ireland or its successor. Officers Headmast¢r Mr C J McAllister BA (Hons), QTS, NPQH {Headtnaster) Secretary and Bursar Mr C S Way Bsc (Hons) Clerk io the Governors Mr R J Ennis LLB Company number 141727 Cl)arity number 528617 Principal Address and Registered o￿L¢C W(M)d Road. Tettenhall. Wolverhampton. IVV6 8QX Website i¥.tetlenhollcollege.co.uk

Tettellhall College (Incorporated) (A company limited by guarnn¢ee) Governors, officers and advisers Advisers Bankers Lloyds Bank PLC. Queen Square. Wolverhampton, WV I I UE Solicitors Rees Page, 8-12 Waterloo R(bad, Wolverliamplon WVI 4BL Auditots CTOiV¢ U.K. LLP. Black Country House. Rounds Green Road, Oldbury, Wesi Midlands. B69 2DG Insurers Marsh Limited. Castlemea(L Lower Castle StreeL Bristol, BSI 3AG

TetteTrh#ll College (Incorpornted) (A company limited by gu*rante¢) Annual Report of the Governors for tbe year ended 31 August 2023 The Governors present thcir Antlual Report for the year ended 31 August 2023 undcr thc Charilies Act 2011, includiiig the Direclor5' and Strat¢gi¢ Reports under the Companies Act 2006. logether with th¢ audited financial slalemenls for the year. REFERENCE AND ADMINISTRATIVE INFORMATION Tellenhall Coll¢&ie was foiinded in 1863. It is constituted as a company limited b), guarantee registered in England, No. 141727, and is registered ivitli the Charity Cominission under charity number 528617. Details of the members of the Governing Body. together ivith the College's officers and principal advisers, are given on pages 2 and 3. STRucfuRE, GOVERNANCE AND MANAGF.MEiYr Governing Documents The Coll¢g¢ is governed by its Memorandum and Articles of Association. Ivhich date from 1915 and were last Iipdated in 2009. Governing Body The governin¥ body of the College is the Council of Governors. details of i%,hicli. including lliforn]ation on how the members of the governing body are apw)inled to otrice, are set out in page 2 above. The Coiincil of Govemors dctcrininc the gcncral wlicy of the College. Tlie da)'_l(Hlay managemenl is delegated lo the Headinaster aiid the Bursar. Recruitment and Training of Governo The College's Governors are appointed ai full Council of Govemots meetings on the basis of noniinations received t<iking account of the Coiincil's specificotions concerning eligibility,, personal competence, specialist skills aiid local availability. Neiv Govcrnors arc induct¢d into Ihc il'orkings of tlic Coll¢g¢ and reLeiv¢ a copy of guidance issued by the Association of Governing Bodies of Independenl Schools {AGBIS} and t])e College's "Governaiice at Tettenhall College" handbook that sets oui memb¢rship, TnemoranduTn and hrti¢les, commillee qtrLicttire, tenns of reference, and procediir¢5 includingy appointtncnt and induction of neiv Gol'ernors. Spe¢ific trainiiig for Cjovernors is provided by AGBIS with parficiilar reference to the governance issiie5 conT]ected ivith a charitable organisation. Organisational Management Thc Goi'ernors, a5 th¢ charity Trustees of the College. are legall) resix)Iisible for ihc overall managenieni and control of the College and tneet at least three lime5 a )-ear. The Execiitive CoTnmittee, chaired b}, the Vi¢¢ Chainllan, Mrs J Parker meets ivhen required to consider pmcedures such as the election of ncw Governors, otTiLers of the Coiincil and appointment of a iieii Headniaster or Bursar. The Finance Committee meets speLifiLall)' to approve budgets and finalise the audited fitiancial statements and annual report for approval b), tl)¢ Couiicil, and at otlier times as necessary. The Chainnan of tlle Finance Committee is Mr M Ca(rre￿.. Other priiicipal eoinii)itlees are the Planning and Estates Commiltee, ¢hair¢d by Mr S Maddox, the Edu¢ation Committee, chaired b}, Mrs J Parker and the Marketing Committcc chair¢d b). Mr A W)'nnc. Oihcr cointnittee members listed on pag?e 2. Ea¢h of these eommittees meeis once a iemi before meetings of Ihe Coiineil. Sub-comm iitee meeliiigs are held for Safegiiarding and for Health and Safcl),. Minute5 of thc5c Ineeiings arc distribiited lo all Governors and are reported u￿n at full CoLincil meelings.

Tettenhall College (Incorporated) {A company limited by guarantee) Annual Report of the Governors for the yearended 31 Augusl 2023 The day to day rnnning of the College is delegated to the H¢adma5t¢r, supwbrtcd by his Senior Leadership Team, of which thc Bursar is a member. TogeÈh¢r this group are the key managjemenl personnel. The Headniasl¢r and the Bursar attend tneettngs of the aknve committees. The Head of th¢ Preparatory School. Deputy Heads and oiher metnbers of staff attend committee meetings as rcquired. Remuneration is Set by the Board. with Ihe policy objective of providing appropriate incentives lo ¢ncourage enhanced p¢rfom)ance and of rewarding fairly and ￿sPonSIblY individual coiitributions lo the ColleLy¢'s success. The appropriateness and relevance of the remulleration policy is revieived annually, including reference to comparisons with oth¢r ind¢p¢nd¢nt 5ch(Kyls to ensure that thc Coll¢g¢ remains sensitive to the broader issues of pay and employment condittons els¢Ivhe￿. Delivery of th¢ Collcge's charitable vision and purpose is primarily dependenl on our key management personnel and staff costs are the largest single element of our charitable expendibjre. College Structure and Relationshitkg The College actively supports the attainment of the highest standards in the Independent Schools 5¢Ctor, partly throu￿ nehvorking ivith other schools and partly through peer group sludies lor the evaluation of quality and perforniance improvement meihods. We co-operate i¥iih many lo¢al organisalions in our ongoing endeavours lo widen publi¢ access to the schooling ve can provide, to optimise the educational use of our cultiiral and sw)rting facilities and to awakeii in our pupils, in the public interest, an aiyarcncss of the social context ofthe all-round educatioii they re¢eive at the Colle&7e. The College also b¢nefilS from the gen¢￿51ty of a thriving neti*ork of Old Tclteithallians i%'hose close support ive greatly appre¢iale and gladly acknoivledge. The College also has a strong relationship ivith a dedicated Parents and Tea¢hers Asso¢ialion ivho both support and nin events for l)oih pupils and parents as illell as providing funding for areas of the Collcge they wish to 5UPPOrt. Governatt¢e In line iviih generdlly accepted best prdctice for corpornte governance, rcgiilar revicws of tlic Board's raiige of 5ki11s and finaiicial aiid other coiitrols and proL¢dures are iindertakeii as 'governaiice audits. to confinii tl)al Governors Etiaintain the necessar), persoiial compelence in each case and also that ihe Board protocols for managing any emerging conflicts of personal interests remain fully effcctivc in practice.

Tettenhall College (Incorporated) {A conipany limited by guarantee) Annual Report of the Governors for the year ended 31 August 2023 Employjnent Policy The College is an cquol oppothinities emplo)'er. Full and fatr considerdtion 15 given to job applications from dis&bl¢d persons and due considerdtion is given to their training and employtnent needs. Consiiltation wilh employees, or their represcntaiives, has continued at all l¢vc15 With the aim of taking the vicws of employees into accoiint wh¢n dcci5ions ar¢ tnadc that are l&kely to affect their interests. Employees are made aware of the f￿anCIal and economic perfom)an¢e of the College. Communication ivith employees continue5 through nomial managemenl channels in a variety of fornis and also through exceplional channels lo apprise staff of current issues. Investment policy and objeetives The Colle&ye's investments amounted to £123.358 ai 31 August 2023. The investment objectives are.. reviewing the investments annually to deternline if they provide the kst use of resources for thc current demands of the College- if possible, maintaining (at least) the value of the inve51ments in r¢al temis. producing a consistent and Sustainable amount to suP￿rt expenditure. and d¢livcring these objectives wiihin acceptable l¢v¢ls of risk. To meet these obje¢tives, Ihe College's investments are managed to maintain diveTsification across a range of a5sel cl￿5¢5 in order to produce an appropriate balance beii*een risk and return. Tl)e investmei)t strategy and policy is monitored by the Finance Committee, as is investment p¢rforwnance. AIiVIS, 0￿ECTIVEs AND ACTIVITIES Charitable obj￿¢5 The Colleg¢'s Objects, in accordance with its Memorandum of Association, are the advancement of education, incliiding the provision of boarding andlor day schooling for children of tK)th sexes. The College iiiaintains IinendoiTred trust funds and rc5trictcd funds of modest proportions hcld for special purposcs in connection ivith tl)e development of the College's facililie5 as Ivell as for scholarships, bursaries. prizes and other education&1 purposes. Misston and Vision and Value5 Th¢ cornerstone of oiir comtnlinity is our vision to bc thc Sch(KTrl of choice for ovtslanding personaliscd ¢ducation, inspiring ever). pupil to excel academically and beyond. Our tnission is to nurture oiir pupils to achieve tlieir fiill poienlial and discover their Liniqiie talents in an educational 5¢tting where ihey ii'ill thrive and bc l)app)'. Oiir exceptional staff inotivate pupils to eii)bra¢e challenge, giving them tlie best preparation for life and persoiial success. Olir core values include.. Ambition Th¢ College strives for excellence in every aspecl of its work and lias high aspirdtioiis for the pupils. Resilience is en¢oLtraged by embracing mistakes as learning opportunities.

Tettenhall College (Incorporated) (A company limited by guaTaDtee} Annual Report of tbe Governors for the year ended 31 August 2023 Opportunity The Collegc f05ters self-belief and provides academic chall¢ng¢? per50nalis¢d 5UPPOrt and a breadth of learning opportunities. Crvativity The College has the freedom to adapl ils education to find the most effective way to meet the pupils, nccds. The College recognises that nurturing creativity is vital in t(bday'5 world. Community The College has a safe and secure family environmeni throughout our School. It l(K)ks to promot¢ shared values and respect for each oiher. The College equally ivant pupi15 to look outsvards. act responsibly and become valued global citizens. Character The Colleg¢ ¢uliivat¢s emotional intelligence, well-being and self-respect and encourages support for each other. The college leads by example to promote healthy and balan¢cd lifestyles. Intended impaet Within its charitable Object5. the Colleg¢'5 intcntion 15 to provide a fwst-class education throub?h stron&? acadeinic luilion <2nd by d¢v¢loping broader skills that enable every pupil to realise his or her poteiitial to the fLIII. Tills involvcs ciiiphasis 011 the co-CLirriculum throiigli cerebrdl, swrting, artistil, team building and social skills. This objective biiilds seif-confidence and life skills in our pupils and inculcates a desire to learn and 8 i¥illingi)css to contribute to the ivider community whilst at S¢h(KTrl and in later life. Aims In meeting the Objects, the Council of Govemors, public benefil aim is to providc a first-cla5S ii)dependcnt cducation, both through strong academic tllition, ai)d through developing ivider sporting. artistic and social skills i all OLir pupils from the ages of 2 to l 8. This is intended to provide an enviroiiment ii,here each pupil can devclop and fLilfil his or her potential, in order to help build self-confiden¢c and inculcate a lifelong desire lo contribute to Ilie wider coinmunity. In the furtherdnce of these aims the College's Governors, as the charity Trusteeq, liave Lomplied ivitl) the duty in s.4 of the Charities Act 201 I to have duc regard lo tlie Cliarity Comii)ission's publislied generdl and relevant sub-5eclor guidance ¢onceming the operaiion of the Public Benefit requirement under the Act.

Teltenh#ll College (Incorporated) (A company lin)iteil by guarantee) Annual Report of the Governors for the year ended 31 Augu$t 2023 Objectives for the Yeydr The aim of the Govemots, HeadTnaster and Senior L¢adcrship Team was to build on the solid foundati0115 laid over the past few y¢ar5 and focus on recruitsnent and reiention of both Ix)arding and day pupils so as to return to pr¢- Covid pupil numbers as quickly as possible. The Governors and Headmaster are deterniined to make Tettenhall College the school of choice in the area by continuing to focus on its strengths. The refurbishment of th¢ Boy5. Boarding House has providcd a modern aiid comlortable living and 51c¢ping space lor all boarders and the aiin is to recruit boarding pupils to achieve near fiill OCCLipancy. Witliin this ive aiJn to recruit youthger iK)arders and encourage a divers¢ range of boarder's nationalities. Additional objectives were to: Maintain the sch(K)I's high level of academi¢ perfornlance and sports achievement. Continue to provide public access through xholarships and means tested bursaries. Continuc to develop mutually supportive links with other 5chwls in our locality and encourage fiirther comtnunity access to our facilities Ixith inside and outstde of nornial school hours. Continue to build on the lessons learned regarding ffmot¢ learning during the Covid-19 outbreak and irnprove our provision further to ensure we are ready equipped in case of future outbreak5; To continue to implement a proactive marketing campaign lo rdi5e the School's profile both locally and ov¢rs¢as, in order to see a Significant increase in EM)th da). pupils and LKthrders- Increase the number of bed spaces in FrfHrding accommodation to be able to tneel demand; Improve the facilities at the College, including the SwimmiT]g Pool and new IT facilities; Look to new overseas markets and an increase in ihe boarding population at the College- and Conliniie to progress the restordtion of the Towers Building and renovation of internal spaces lo meet increasing pupil demand. Progir¢ss was mad¢ on most of these during the year as delailed below but as they are all long tem aitns they continiie to be part of the objectives for the futur¢ a5 set out on page 15. Strategies lo achieve Éhe primary objective5 OLir strategy aims to achieve the highest academic perfomjance by providing a stimulating learning environment in vhich all piipils can develop their potential to the full. During the year the cllllleiiges fa¢¢d by ilie Covid pai)dcini¢ reslilted in lessons again moving to remote learning during tlie Spring terni. Despitc this, there was a continued drive to maintain academic perfomiance Ihrough the online lessons. monitoring ofivork and feedback io pupils. Cliltivatiiig a well-rounded development of the personaliti, in our pupils was conimensurate to this throii811 proi'ision of a happ), and sccurc pastoral eni'ironment. Pupils ciicouragcd to foster a sense of coiiiinuiiity, respccl for each other and good citizensliip.

Tettenhall College (lfteorporated) (A company limited by guxrantee} Annual Report of the Goverllors for the year ended 31 August 2023 We had determined to ividen public access to our system of schooling as much as possible within the constraints of our funding as an iiidependent education provider. Within this strategy li'e ci)ntiT]ue to host an activity-based siimm¢r school and to work with local comTllUtEity charities and other local s¢hools to mak¢ more eifective usc of the College's lacilities outside schwl hours. Our strategy also encourages pupils, involvement in exlra-curricular activities with a foc115 on the provision of public bcnefit at all levels of siKiety. Wherever possible, Ive try to keep in touch with our alumni as the}, progress through life at home and overseas, both as Old Tettenhallians and also throiigh appeals from lime to time and in other ￿.￿YS, and by these mcans iv¢ are abl¢ lo assess the extent to ivhich our help has enabled them to make a worthwhile ¢ontribution to public lif¢. A key obj¢ctivc for future growth is the recruitment of new pupils and the retention of existing pupils. Marketing and admissions procedures provide greater engagement with pro5￿ctIve parents and an increase in the level of ¢nquiries. Significanl lime and effort continiies to be expended on the recruitment of overseas boarders and this will continue in the coming )'cars. Boarding numbers during the ycar were lower than in previous years due to Ihc Covid reslri¢lions, however. it is anticipated that EKbSt Covid the boarding num￿rS ivill increase. The iniprovemcnl in the Boarding Flouse facilitie5 ha5 provided the comfortable living and sleeping space for all boarders which is now mor¢ attra¢tivc for potential students. We have started lo make w)sitive progress iii neiy overseas Inarkels tl)rough culiivalion of long-standing relationships iyith the Director of Admissions. This has proved to be effeelive especially in Ccntral and Latin America as ivell as Nigeria. Principal Activity Tettenhall College is a success￿1 c(Feducational. independent daj, and boarding school for pupils aged 2 to 18 years tliat attracts pupils fn)m the UK and from ovcrseas. For the period of ihis rcw)rt, thc Colle&Je Lomprised The Preparatory School, catering for child￿n belii'een the ages of 2 and I l years and S¢nTor School catering for ages I I to 18 years. Public Benefit The governors have complied I￿.1th their duty to have due regard to the guidance on piiblic benefit piiblished by the Charity Commis%ion. TetteTJhall Collcgc remains committd io ihc aim of providing public benelit in ac¢ordance with its founding principle5. Charit). laii. has introduced a requiremeiit to demonstrate that public benefit for charitable piirposes ivhere it has hitherto been presiimed in the absence of evidence to the conlrary. This colls in turn for tnor¢ dctailcd disclosures conceniiiig our aims. The aivarding of bLirsaries for the need). is a measurable Ineaiis of providing public benefit. Tl)e Coiincil of Govcrnors, takes the vieiN' that bursaries aivarded to those %vho i%'ould not other4vise be able to afford tlie fees are important, bul not to the exclusion of the much ivider benefit that the College proi'ides iyithin the coiiiinunity. Those piipi15 wlio altend our School and i1.ho rcccivc financial suppot1 ¢oiitribul¢ lo the School ¢ominunity ii) a variety of ivays, and so the b¢n¢fit is not purely io these pupils but to the whole College and, in some case4 lo the IN'ider community. This ye<lr, the value of means tested buNries iva5 £584.468 ivhich equates to W/0 of school fccs (2022.. £357,396 60/0). I'he Governors, policy, in line iiith that of other Independent Schools, is to make tliese ail'ards on (he basis of the individual's edueaiion&l polenlial, contribiition to the ivider school commui)ity and their financial ¢ir¢iimslanccs. siibject to the particular condilions i￿pOsed b). the origiiial donor where the award 15 Out of reslriclcd fLinds. 104 pupils attended tlle College on means tested bursaries.

Tettenhall College (Incorw)rated) (A compAlly limited by guarantee) Annual Report of ihe Governors for ihe year ended 31 August 2023 In total 86 pupils were in receipt ofscholarships of £410,042 which equates to 60/0 of school fees (2022= 75 pupils. £345,935. 60/0). In addition. fTnancial assistance ivas oivard¢d to I child of personnel in tlie Armed Forces. further 4 overseas stiid¢nts ￿e1V¢d f￿anCIal sllpwrt from the College via the Dresden scl)olar5 Scheme and 4 from the HMC and Polish schemes. Tettenhall College is Committed lo playing a full part in suptK)rting local community groups and to develop muttially beneficial partnerships wh¢r¢v¢r possible. Such initiatives have included= The College opens its S￿rtS and other facililics to many local individuals, organisations, religious bodies and charities including the sports facilities, sivimming pool, theatre and classn)oms' Working ivith local state schools to dev¢lop mutually beneficial links in the areas of six)rL music and drama. The College has made the Swimming p(K)l and forest school available to other schools on a not-for-profit basis. thi5 has includ¢d collecting and returning children in tlie College'5 01¥'n niinibuses. Inviting local Schools to use the librdry facilities- Members of staff and pupils contribute their time voluntarily lo a number of ¢haritable causes sucli as Macmillan Canc¢r Support, Children in Need, Give as you live. Acorns Hospice. Carers Anoiiymous, Elle's Angels, CoFnic Relief, Compton care, Ukrainian charities and Slimmer camps and events that are open to the local community. Beneficiaries Our immediate beneficiaries are young people ii-.hose attendance at our fee-paying school can be funded by parei)ts or giiardians or else from s¢holaTships, bursaries or other forms of charitable grant support, or a cotnbin2tioii of tl)ese. The local communily also benefits from appropriate access to our facilities. The general public are the Liltimate beneficialles of our high-qiiality educational system and the greater awareness of social values that it generatcs in our alutnni. W¢ maintain closc liaison bctsveen parents. guardians and ieachers, as ivell as with Old Tettenliallia115 iii later life, and also With l(Kal charilies that coiild benefit from our fa¢iliiies. B5, this means we ar¢ able to e115ure tliat the schooling w'c provide is alii'ays 'fit for purpose tn the ¢ontexl of present41ay s(Kiety. We also benchmark Pliblic opinion on the standing of our school in relation lo the i¥'ider ediication s}'stem, Ivith a vicw to fine-tuiiing tl)e public benefit itre can provid¢ in k¢¢ping ii'ith the p¢rLeiv¢d needs ofsociety at large. Volunteer5 Tl)e Governors are immensely grate￿1 for the manifold voluntary activitie5 undertaken by the Parents, Association iii order to help ivith the School fundraising and culturdl activities during thc )'car. Thc Governors ivould lik¢ to take this opportunity 10 sa). how much they appreciate Parents. Association continuing and valuable support for our Ivork. io

Tettenhall College (Incorporated) (A companv limit￿1 by guarantee) Annual Report of the Governors for ihe year ended 31 August 2023 STRATEGIC REPORT MARKETING STRATEGY The School has i¥ork¢d hard over the last three years ts) develop its marketing strategy to promote the School's purpose to eduvale attd develop confident young people ii'ho are equipped to lead, inspire and make a positive contribution during iheir tilne at Tettenhall College and their lives kyond. Our positioning slatcment is that Tettenhall College is an inclusive school with traditional values and a global dimension, situated on outstanding historic green field site ivith excellent facililies- where the ¢ducation of the Ivhol¢ child ¢omes first. A range of day, full and flexible Ixiarding options, and the most convenient Irattsport servi¢¢s, to fil with family, life and work. 5UPPOrts thi5. W¢ are now seeking lo achieve a Tnuch higher profile as a first-class school delivering educational excellence and improve market penetration in our kcy markct5 across a ivider geographic area with a stroiig vision for the future and ¢l¢ar messaging. After recent successes in ivhi¢h nutnbers have ri%n our aim is to create a clear marketing strategy to increase Inarket share in Ihe nexl Ihree years, building number5. particularly in day schooltn& to support a busines5 model to ensure a s¢ciir¢ future for thc College. The aim of this work is lo.. Increase pupil numbers over the next thre¢ y¢ars and achicvc an appropriate balance of day and boarding pupils. Div¢Tsify boarding nutnbers by recruiting pupils from a ii'ide rdnge of countries. Crea1¢ 3 frameivork for marketing and admissions ai Tettei)liall College tl)at is fit for purpose lo meet ¢urr¢nl trends in the marketplace. and ivhich can be developed aiid adapled to meel chanb7cs in deli1￿]d iii fijture. To provide a plan to roll out a new vision for the College. raising its profile in ils catchment aiid buildiiig on its key strengihs We are seeking to address the folloiving factors that are CTitical to success= A significant improvement in r¢t¢ntion, ¢specially in the Prcparalory Schi)ol lower years and Y¢ar I I. Addressing Ilie day and ovcrs¢as boarding imbalance in thc sixth forni and sixtli fonn size. Improving r¢crLlltment in th¢ 45-minul¢ ratchtn¢nt area- Much clcarer tncssagiiig aknut the School's positioii iii the marketplace; Addrcssing the perceptions inside and outside the School about acadeinic driv¢ and rigour- Increase the profile of the School ivithin nelv overseas markets. Improve our digital presence both ivithin the UK and overseas.

Teltenhall College (Ineorpora¢ed) (A company limited by guarantee) Anlluxl Report of the Governors for Ihe year ended 31 August 2023 ACHIEVEMENTS AND PERFORMANCE A¢ademi¢ SMcc&ss A5 Iv¢II as a groiving piipil roll, both day and boardiiig pupils, a¢adefflic ￿sU[ts ivere also positive. At GCSE level, 830/0 ofpupils ivere awarded GCSES at grades 94 including English and matheTnalics. A Level students continued to kc¢p up iviih tlie l)igh standard5 set bj previous years, with 23.40/0 of pupils achieving A and A grades, wilh 95.50/0 of pupils achieving A to F. grades. The College is proiid of thc diverse and imprcssive rdnge of higher education institutions and courses ihal our pupils have been able to progrcss to including Manchester. Warwi¢k and the University of New south Wales Australia. Boarders, Outings A busy and varicd range of knarder's outings again l(K)k place throughout the year. The recent trip to Oxford saiv boarders immersed in history and culture as ihey explored this beautiful city. Boarders also experienced go- karting, paintballing and day trips to places of int¢rc5t far wide. Charity Fundraising A number of charitable events took place during Ihe year and received the nornial ivholcheartcd support of the Tettenhall Cnllege Cowntnunity. A Christmas Jumper Day ivas held and rnised £429. Ivith the proceeds beii)g) split between Compton Care and Macmillan. Tti¢ annual Chri5tTnas "Sanla Run" alw look place ivitli Maiiy Members of the iyider School community participating ivith thc aim of rdising fund5 for good causes. Performing Arts The ChrislTnas Concert 2023 featured many of talented pupils perforniing solo, duet and ciisemble pieces beautifully and with musical sensitivity. Larger ¢n5Ctnbles included the Guitar Group, the College Orchcslra and both the Preparatory and Senior Choirs singing what were increasingly ambitious pieces. In December the Coll¢g¢ Community iyere back in the beautiful setting of St Michael and All Angels Cl)Lircli for the annual Carol SeTvice in the last iveek of temi. The Prepardtory School participal¢d in exccllciit voice as they presented a variety of Christmas Carols aiid festive song& ttadilional and contemporary. They ivere assisted by tlie joint Preparatory and Senior School Choirs iyho delii'ered mature, committed perfomian¢es of Christmas choral pieces. The anniial Christmas Play ivas 'Grimm Tales" and this played to highly appreciative audiences over 3 iiiglits. As always, tlie perforn)ances by th¢ rast ivcrc exceptional ai)d shoived ihe depth of talent at the College. The Senior School miisical was 'Honk" and once again a stellar cast perforn)ed admirabl), to a packed theatre every eveiiing. In the Summer Tem the Pr¢paralory School perfonned Shrek" Ivith every casl Ineinber tuniing? in a perforniai)c¢ beyond their years. Sports Sporting provision ¢ontinucs to be driven by the aim to develop personal fitness through participation for all in Ilie School and ¢ontiftues io build and develop pupils by means of a strong fixture list enabling the maximum nuinber of Pilpils to represent thc Sch(K)l in individual and ieam sport5. Increasing use of spe¢ialist coaches have played a significant part in improving the perlomiance of the Sports. d¢partin¢ni's success. Squash ALad¢m )' members are iiorking through their Developmenl Aii'ards Juiiior Skills Progi"amme. With each level building on existing skills and offering more challenging tasks, pupils are developing thcir hai)d to eye 12

Tettenhall College (Incorporated) (A co￿PanY limited by guaranlee) Annual Report ofthe Governors for the yegr ended 31 August 2023 coordination, racket skills and ball control. Considcring tactic% stratcgy and challenging their understanding of the gam¢ ha5 h¢lpcd them grow as players. Health & Wellbeing The Surgery team iveff ¢x¢epiionally busy throiighout th¢ y¢ar, managing IK)th physical health matters and providing support around mental health and ii.ellbeiiig. A number of initiatives are run (o help pupils with their mental health including a lunchtime 'ketchup club" which is available for pupi15 to talk lo qualified staff about their mental health issues. Pupi15 also have access to an indqKnd¢nt counsellor and an indepeiideni listeiier. FINANCIAL REVIEW Results for the Year Th¢ Coll¢gc'5 total incoming resources for the year amounted to £8,578.048 (2022: £6.878,357). The net surplu5 for the year was £868,665 {2022-. £467.778) as shoivn in the Statement of Financial Activities. These results show the impact of the inflationary pressures during the year. The results have beeii improved by the do]￿tIOn towards the cost of replacing the Toil'ers Roof. Reserves Policy The Governors have considered the reseryes held by the College at 31 Augu￿ 2023. The College needs reserves both to enable it lo progrcs5 ils long tern] aims and to fund its rur¥tnt activilies. The Governors haipe examincd the Iieed5. risks and challenges faced by the College in i)oih the short And medium lerm, along) wilh relevani fiiiai)cial foreLasls and have forniulated a polic), to meet these nccds. Thc long-lerm aim is lo ensure that th¢ amoLllIt of the unrestricted fuiids eqliates lo the sum of: Planned or anticipat¢d fuiurc commitments to capital projects Financial comtnilments made but not )'et ente￿1 into Planned investm¢nl in ¢ducational initiatives Creditors due le5S than one year Salary and r¢lated costs for one month to cover cashflow and contingenc), requireTnents The College s total reserves of £5,014,055 at the year-end included £149,998 eiidoivnieiit capital. £1,375,700 restricted fiinds and £3,488,357 unrestricted income. There are no curr¢nt free reserves (￿n￿strIcted funds less the ncl book valuc of fixed assets financed b), those funds). The Governors revieii the reserves position ai)nually and coMsid¢r that the future plans outlined on page 15 ivill lead to an increase in reserves in the future. Against this background, regular meetings ivere held betil'een the Chaimian of Governor& Chair of Finance, Headiiiaster, Bursar and Finance oificer io agree aclions to take and re￿]eW progres5. The foLus has been on ¢ash availability and hoiv to preserve this i%"iih additional support from the bank io coi'er aiiy sliortfall. 13

Teltenhall College (Incorporated) (A compkiny limited by guarantee) Annual Report of the Governors for the year ended 31 August 2023 Going Con¢ern The Governors have a reasonabl¢ ¢xpcctation that the College has adequate rcsourccs to conlinue its activities for the foreseeable future and ac¢ordingYly Ihcy a150 continue to adopt the going conccrn basis in preparing Il)e financial statements as Oliilined in the Sialemcnl of Accoiinting and Reporting Responsibilities on page 16. Investment Policy and Objectives Poii'ers of investment are regulated by the Memorandum of Asso¢ialion and administered b). the Governo￿. Th¢ inv¢51￿¢￿1 objective is to maximise overall r¢turn. whilsl achieving an appropriate level of iiicome. Freehold Land and Buildings In the opinion of the Governor5. the market value of the Colle8e's freehold land and buildings is in excess of the amoiint al ivhich it IS Stated in the balance sheet. Hoivever. the amount of the excess over net book value has not been quantified. Charity governance code Th¢ Triistees are aware ol the new charity governance ci)de issued in July 2020. In order to ensure that the charity is working in line ivith the codc, in all ivays ii,here it is practicable to do 50 thc GovernoTS hav¢ bcgun th¢ process of reviewing and discussing this at Council meetings. This ivill be ongoing. The charity had no fundraising a¢tiviti¢s rcquiring disc105urc undcr S162A of the Charities Act 2011. Detailed considerations of risk are delegated to the Headmaster, who is assisted by the Senior Leadership Team. Risks are identified, assessed and conirols established throughout the year. Key controls iised by the College includ¢: Forn]al agendas for all Committe¢ and Council activity- Deiailed ternis of referenc¢ for all CownTnittec5- Comprehensive strategic plannin& budgeting and management accounting; Established organisational structure and lines of rewrting- Fornial Ivritten policies- Cl¢ar authorisation and approval levels, and Vetting procedures as reqiiired by law for the protection of the vulnerdble. The Govemors have identified and discussed the principal risks faced by ihe College including.. The re¢ent economic iincenainl), and doi￿1urn- Political faciors that may threaten business fates relief and VAT on school fees- Pupil deinogrnphics. Academic resiilts, standards and reputation. 14

Tettenhall College (Ineorporated) (A COmpa￿Y limited by guarnntee) Annu311 Report of the Governors for the year ended 31 August 2023 Fee levels. Increased ¢ontribution5 to the Teache￿. Pension Scheme.. Credit availability, liquidity and cash flow forecasts= and Futiire developTnent plan5. Tliroligh risk management processes established for the College, the Goi'ernors are &4tisfied that the Inajor risks identified have been adequately mitigated ivhere necessary. It is reeogni5¢d that systems cai) only provide asonable biit not absolute assurance ihat major risks liave been adequately managed. The Governors regularly revieiv the ¢ffectivene5s of current plans and strategies for man8ging all identified major risks. FUTURE PLANS The aim of the Govcrnors, Headmaster and Senior Leadership Team is to build on the solid foundations laid over the past few years and focus on recrllitment and reletttion of both boarding and day pupils so a5 to incrcase pupil numbers from pre-covid levels as quickly as possible. The Governors And Headmaster are detemined to make Tettenhall College th¢ school of choic¢ itt tlie area by continiiing to focus on its strengths. Th¢ total refurbishinent of the Boys. and Girls, Boarding Houses have provided a modern and comfortable living and sleeping space for all boarder5 and the aiJn 15 to recruit boarding pupils lo increase the knarding population at the School. Within this iv¢ aiill to recruit youiiger boarders and encourag¢ a diverse range ofboarder's nationalitie5. In addition. lye will.. Maintain the sch(K)I's high level of a￿demiC performance and s￿>rts achiev¢mcnt- Continue to provide public access through scholarships and means tesied bursaries- Continu¢ to develop mutually supportive links with other schwls in our locality and encourage further Community access to our faciliti¢s both inside and outside of nornial School hours. Continue to build on the lessons learned regarding remote learning during thc Covid-19 outbreak and improve our provision further to ensure lye are ready equip￿ in case of fitture outbreak5; To continLie to implement a proaclive marketing campaign to raise the School's profile both locally and overseas, in order to see a significant in¢rea5c in IKTrth day pupils and boardets. Increase the number of bed spaces in boarding accommi)dation to be able to meet demand. Improve the facililies al the College. including the Sivimming P￿1 and new IT facililics- Look to neiv overseas markets and an increase in the boarding population at the Collcge. and Continue to progTress the restordtion of th¢ Toivers Building and renovation of internal spaces to meet increasiiig piipil demaiid. 15

Tettenhall College (Incorporated) (A eompany limited by guarantee) Annual Report of the Governors for tbe year ended 31 August 2023 STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES The members of the Governing B(MJy {iYho are also the dire¢ioTS of Tettenhall College for the purposes of company law) are responsibl¢ for preparing the Annual Report and the financial statem¢nts %vitli applicable law and United Kingdom Gcncrally Accept￿ Accountingy Practice (United Kingdom Accoiinting Standards). Compcllly laiv requires the Governing Bod), to prepare financial stalements for each financial year. Under that law the Governing Bod). have eleclcd to prepare th¢ financial statements in accordance ii'ith Uiiited Kingdom Generally Accepted Ac¢oiinting Practice (Unitcd Kingdom Ac¢ounting Standards) and applicable law. Company law reqiiires the members of the Governing Body lo prcpare financial statemciits for each finai)Lial year. Under company law the Governing B(xly niembers must not approve the financial slalements uiiless they are satisfied that the). give a lrne and fair vieiv of the stste of affaTrs of the charitable company and the group and ofthe incoming r¢sources and application of rcsources, inrluding the income and expenditure, of the charitable groiip for Iliat period. In preparing these financial sialemenls. th¢ Governin8 Body memkrs are requircd to= select the most appropriate accounting policies and then apply th¢m consTStently- observe th¢ methods and principles ill the Charities SORP- make judgtnents and Mrxounting estimates that are teasonable and prudent. state ivheiher applicable Accolinling Siandards havc been follo%v¢d. subjecl to any material departures disclosed and explained in the financial ￿ateMentS- and prepare the financial slalements on the going concern basis unless it is inappropriatc to presume that the charilable company il'ill continue in business. The m¢mbers of the Governing Body are resw)nsible for keeping &dequalc accounting rccords that are sufficient to shoii, and explain lh¢ charitable compan) s Iransactions, disclose ii'ith reasonable accuracy al any tiine the financial position of the charitable company and enable ihem to ensure that the financial 5tateinei)ts cotnply will) the Companies Act 2006 and the provisions of the charity. 5 Collstitution. They are also respcinsible for safegiiarding the assets ol. the Lharity and the group and hence for taking reasonable steps for thc prevention aiid deteclion of fraud and oilier irregulariti¢s. Relevant Audit Informatio In50far as each of the Ditectors. as members of ihe Governing Body, at the date of approval of thi5 repoi'l is aivare there is no relevant aiidit inforniation (infonnatiort nccded by the Compan) s audilor in conneclion with preparing tl)e audit report) of ivhich the Company"s aiiditor is unaii"are. Each membcr of the Gov¢rning Bod), has takeii all tl)e slcps that he or she ghould have taken as a mcmber of the Goi'erning Body in order to make himself or herself aivare of the relevant audit informaiion nd to establish ihat the c.ompan> s aiiditor is awar¢ oftl)at infor]nation. 16

Tetlenhall College (Incorporated) (A Company limited by guarantee} Annual Report of the Governors for the year ended 31 Avgust 2023 Auditora Crowe U.K. LLP has indicated its iYillingtEesS to be reappointed as ststutory auditor. Approved by the Governing Body of Tettenhall College on ..2ts.hP.£!L .2024, including, in their capa¢ity as com dire rs ving the Directors, and Strategic RetKirts wntained Iherein. and signed on its b¢half by.. J F Woolridge Chainnan 17

Tettenhall College (Ineorporated) (A ¢ompany limited by guarnntee) Independent Auditor's Report ¢0 the Members ofTettenh*ll College (Incorporated) Opinion We have aiidited the finaneial 5talctnents of Tcltenhall College {In¢orporated) (the "charitable cotnpany") and its siibsidiary (tht"groLlP") for the year ended 31 August 2023 ivhich comprise the consolidalcd statement of financial activities, consolidated balanc¢ she¢l, Consolidat￿ cash flow statement and notes lo the ftnancial slat¢m¢nts, including significant accounting policies. Th¢ financial rew)rting frameivork that has been applied in their preparation 15 applicable laiy and United Kingdom Accounting Standards. including FinancÈal Reporting Standard 102 The FinaTJcial Reporting Standard applicabl¢ in the UK and Republic of Ireland (United Kin&¥doin G¢n¢rally AccepÈed Accounting Practic¢). In our opinion the financial statements= give a Irlie <2nd fair vieiv of the state of Ihc group's and the charitable company's affairs as at 31 August 2023 and of the group's in¢omtng resources and application of resources. in¢luding its income and ¢xpenditure for the year then ended- have been properly prepared in accordance ivith United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance ivith the r¢quiremenls of the Companies Act 2006. Basis for opinion We conducted our audit in accordance ivith International Standard5 on Auditing (UK) {ISAs {UK)) and applicable law. Our responsibiliti¢5 under those standards are furtller described in ihe Audilor's responsibililies for the aiidit of the financial statements section of our report. We are independcnl of Ihc group iii accordaJ)ce ivith the etl)ical qiiirements that ar¢ rclcvant lo our audit of the financial stalettt¢nts in the UK, includiiig tlle FRC'S Ethical Staiidard, and ive have fLiifilled our other ethical reswi)sibililies Tn a¢cordance with these reqiiiremeiits. We believe thclt the aiidil evidence ive have obtatn¢d is SU￿1Clertt and appropriate to provide a basis for our opii)ion. Conelusions relating to going concern In aiidiling the financial statemcnts, we have concluded that the trustee's use of the going Concern basis of a¢¢ounling in the preparation of the finaiicial sl&tements is appropriate. Based on the %York wc have perfornied we have not idenlified any material uncertainties relating lo events or conditions that, individually or collectively, may cast signafi¢anl doubt on thc charitable compai)y's ability to continiie as a going concern for a pcriod of al l¢ast livelvc months from when tlie finan¢ial statements are aiithoriscd for issue. Oiir responsibilities and thc re5ponsibiliti¢s ol the trustees ivith respect lo going concern are described in tl)e relevant seclions of this report. Otber information 'rhe trustees are responsible for the oiher inforniation contained A￿lIhin the annual report. The other iiifonnation comprises the infomiaiion included iii the annual report, other than th¢ financial stalcmenls and our auditor's report thcrcon. Our opinion on the financial statenients does not cover the other information and, except to ilie extent othenvise expliciily slated in our report. we do noi exprc5s any form of assurance conclusion th¢r¢on. Olir responsibility is lo read the other information and. in doing so. ¢onsider whcthcr tlie other information is materially inconsistent ivith the fiiiaiicial slatcments or our knoivled&Je obtained in Ilie audit or othernvise appears to bc matei'ially misslaled. If li'e identify such tnaterial inconsistencies or appareTkt material tnisstatenieiits, Ive are

Tettenhall College (Incorporaled) (A eompany limited by guarantee) Independen¢ Auditor's Report to the Members of Tettenhall College (Incorporated) required to d¢tcrniine wheth¢r this gives rise lo a material misstatemenl in the financial statements themselves. If, based on the ivork ive have perfornied, Ive conclude that thcre is a material misstatement of this other informalion, w¢ are r¢quired to report thot fact. We have nothin8 to report in this regard. Opinions on other matters prescribed by the Compallies Ae¢ 21)(16 In our opinion based on th¢ work undertakcn in the course olour audit Ihe infonnation given in the truste¢s' reporL which inrludcs th¢ directors. rew)rt and the strat¢gi¢ report preparcd for the purpos¢s of company laiv, for the financial year for ivhieh the financial statements ar¢ prcpared is consistent with the financial statements. and the stralcgic report and Ihc directors, repori included ivithin Ihe tTUStees' report have been prepared in accordance ivith applicable legal requirewncnts. Matters on which we are required to report by exceptio In light of the knoivledgc and understanding of the chariiablc company and tlieir environment obtaiiicd in tlic uourse of the audit, we havc not identified material misstatements in the strategic report or the directors, report included iyithin the trustees, rew)rt. We have nothing to rcport respect of the folloiving matters in relation to ivhich the Compmnies Act 2006 requires us to report lo you if. in our opinion= the parent ¢ompany has not kept adequate accounting record5. or the parcnt company ftnancial statements are not in agreement with the accounting records and relums. or certain disclosures of trustees, r¢muncration specified by law are not made. or we have nol received all the inforniation and explanation5 we require for our audiL Responsibilities of trustees As explained In0￿ full). in the Irustccs, responsibilities statement set out on page 16, the truslees (who are also ihe directors of th¢ charitable compan). for ihe purposes ofcotnpan}' laii,) are responsible for th¢ prcparation of the tinancial statements and for being satisfied that th¢y give a trlie and fair viciv, and lor sucli inIen￿l coi)trol as the trustees d¢lcnnine is necessary. to enable the preparation of financtal stalements that are free frotll material misstatement, Ivhether due lo fraud or error. In preparing) the finaneiml statements. the tnislees are responsible for assessing the charitabl¢ COTnpaiiy's ability to continue as a going concern, disclosing. as applicable, matters related to goii)g> concern and usiiig Ilie going concern basis of accoLinting unless the trustees eiiher intend to liquidale the cliaritabl¢ compan), or to cease operations, or have no realistic alternative bul to do so. Auditor's respo￿51b11IticS for tbe audit of the fin2n¢ial Statements (hir objectives ar¢ lo obtain reasonabl¢ assurdnce aEKiul ivheiher the financial statements as a whole are free from niaterial Inisslat¢menL ivhether due to fraud or error, and io issiie an auditor's report that includes oiir opiiiion. Reasonable assiirance is a high levcl of assurdnce, but is not a guarantee that an a(Ldit conducicd in accordaiice ivith ISAS (UK) will alivays dete¢l a material misstatement iN"hen it exists. 19

Tettenhall College (Incorporated) (A eompany limited by guarantee) Independent Auditor'$ Report to the Members of Teltenhall College (Incorporated) Mis5tatem¢nls can aris¢ from fraud or crror and ar¢ considered material if. individually or in the aggregatc, they COLild reasonably be expected to influence the economTc decision5 of U￿[5 taken on the basis of these financial statements. Details of the extent to which the audit lia5 considered Capable of detecling irregularities. including fraud and non- complianc¢ ivith laws and regulalions are set out below. A further description of our rcsponsibililies for the audit of the f￿anCIal statemenls is located on the Financial Reportiiig Coun¢il's iyebsite at.. wM¥.frc.org.uklauditorsresp)nsibilities. This d¢s¢ription fornis part of our aiidilor's report. Extent to which the audit was eonsidered capable of detecting irregularities, including frnud Irregularities, Including fraud. are instances of non-complianc¢ ivith laws and regulations. We identified and assessed the risks of Tnatertal mi5slatetnent orth¢ financial staiements from irregularities, wliether due to fraud or error, and discussed these betiveen our audit team members. We then designed and perfomied audit procedur¢s responsive to those risks, including obtainin8 audit cvidence su￿1cle￿( and appropriate to provide a basis for our opinion. We obtained an undersianding of the legal and regulatory frameworks within which the charitable company and group operates, foeusing on thos¢ laivs and regulations that have a direct effect on the determination of iiiaterial amoiints and disclosures in the financial statements. The laws and trgulations we coiisidercd in this context w¢re th¢ Companies A¢1 2006. the Charities Act 201 l ￿gether iyiih the Charities SORP (FRS 102). We assessed the requircd complian¢e with these laws and regulations a5 part of OUT audit pr￿edureS on th¢ related financial statement il¢ms. In addition, we considered provisions of other laws and regulations that do not have a direct effect ot] the fiiiancial statements biit conipliance iviih m.hich might be fundamental to tlic charitable company's and the group's ability lo operate or to avoid a material pcnalt),. We also ¢on5idered the opportunities and inccnlives that may exist ivithiii thc charitable ¢ompany and the group for fraud. The laivs and Ttgiilation5 Ive conside￿d ii) this context for the UK operations ivere The Education (Independent School Standards) Regulations 2014, General Data Protection Regulation ((sDPR), Health and Safety and Employmeni Segislation. Aliditing standards lim it the required audit pro¢edures to identify non-compliance wilh these laws and regulations to enquiry of the Truste¢s and other management and inspection of regulatory and legal correspondence, if any. We the wate&t nskof m￿al m¥￿ton￿ f￿￿￿la1 ststematts fr(n ￿kndIng to of controL8 bi, maDagemort. Our a￿tht FrcLEthxes to re5Fon to these risks i￿l￿A￿ eTr]uwie5 of nYJnagement al￿ the A￿lIt C4)mmrttse I￿￿ut their and a￿SSMent ofthe risk of I￿eg￿3￿￿S. sample tsstsng on the p)stJng of journals, reTrie￿ing ￿t￿ntm8 est￿1￿ fi)r biase4 ￿'le￿ing regulat(Ky CLJErrylxxle￿e Clwity" a￿d readin2lllllllltes ofme&llWS of ckLarpd Trith Rol"ern(￿. Oi%'inki to the iiilierent limitatioils of an audit. Ihere is an unavoidable risk ihat ive tnay not have deleLted some material misstatements in the financial statcments even though ive liave properl). planned and perfornied oiir audit in accordance with aLiditing standards. For example. the further removed non-compliance ii'ith laivs and regulatioiis {in'egTLilarilies) is from the events and transactions ffflccted in the financial stateinei)ts, Il)e less likely the inherently limilcd procediires rcqiiired b), audiling standards ik.ould identify it. In addition, as ii'ith an), audit. there remained a higher risk of non-detection of irregularities, as Ihese ma} involve collusion, forgen,. iiitentional omissioiis, Inisrepresentations, or the ov¢￿Ide of internal controls. We are nol responsible for preventing non-compliancc and cannot be expccted to d¢iecl noii-compliance ivith all laws and regulations. 20

Tettenhall College (Incorporated) (A cornpau!. limited bv guarAntee) Independent Auditor's Report to the Members ofTe¢tenhall College (Incorpordted) Use of ollr report This report 18 niade 501ely to the charitable company's m¢mbcr5, as a body, in accordance ivith Chapter 3 of Part 16 of the Companics Act 2(KJ6. Our audit ivork has been undeEtsken so that ive might state to the charitable coiiipany's members those matters ive ar¢ required 10 State to them in an audilor's report and for tko other purpose. To the ftillest extent pcrmitted by laiv, Ive do not accept or assume responsibilit), to anyone other tlian thc charitablc company and lh¢ Lharitable Lompany's members as a EKKIY. for our audit work. for thi5 report. or for the opinions we have fonned. Vo)C Kcrry Brown (Senior Statutory Auditor) For and on behalf of Croive U.K. LLP Statutory Aliditor Black Country House Roiinds Green Road Oldbury West Midlands B69 2DG Dale- Istmay .2024 21

Tettenhall College (Incorporated) (A company liniited by guarantee) CoDs01idaled statement of financial activities for the year ended 31 August 2023 Unrestrieted Notes Funds Reslricted Endowed 2023 2022 Total Funds Funds Total Incorne and endowments fTOTh: Charilable activities School fees receivable Ancillary trading income Other trading activities Non-ancillary trading income Voluntary sources Grants and donaiions 6.682.248 233.997 0.082248 233,997 5.371,784 173,736 294.162 294,162 143,121 433 1,360.089 I J60522 129.169 Other ineome Bic nk interesi Proceeds fro￿ btisiness inteTrtLPtion clai 7,119 7,119 25 1,058,547 Total incoming resources Expeniliture on- Charitable activities Ediication 7317,9S9 IJ60,089 8,578.048 6,876,357 7,366.751 10,089 7J76O40 6,266,596 Other trading 2Ctivities Trading activities Total expenditure Net loutgoiNg) fllnds from optrntions belore transftr5 invtstment g%in% 334,865 7.701.616 334,86S 7.711,705 138,428 6.405.024 10.089 {483.657) A JSO,OIM) 866J43 471,333 Gain/(loss) on investments 12 2,322 2J22 (3.555) Net movement in fuDd5 for tht year (483.657) IJ50,IKMI 2J22 868,665 467,778 Fund balan¢e5 brought forward at I September 2022 3.972,014 25.71M) 147.676 4,145?90 3,677,612 Futkd b#l#n¢es carried forwar(I at 31st August 2023 3,488J57 IJ75,71M) 149,998 5.014,OSS 4,145.390 The consolidated slaiemenl of financial activities incotw)rates the Incotne and Expenditure accouiit. The notes on pages 26 to 42 forni part of these financial statements. 22

Tettenhall College (In¢orporaied) (A ¢ompany limited by guarantee) Balanet sheet as ai 31 August 2023 (Company number 141727) Note Group 2023 Group 2022 College 2023 College 2022 Fixed assets Tangible assets Inv¢sltRents 7219,104 123J58 7J42,462 7,065.097 126.036 7,191.133 7219,104 123,458 7￿42￿62 7.065.097 126,136 7.191,233 12 Current assets Sto¢k Debtors Cash and deposits 127,079 498,7(Kl 2,4i3243 3,079,022 90,282 402.149 1.361,374 1,853.805 1.870 572,251 1,223,790 1,797,911 13 729J39 2276,114 3,1)07J23 Current liabilities Creditors payable ivithin one year 14 (2,903,165) (2.218,420) (2,831,566) (2.162,626) Nel current liabilities 175057 (364.615) 175,757 (364.715) Total assets le&s curreLt liabilities 7,518J19 6.826.518 7518J19 6,826,518 Dg-term liabilities Crcdilors payable after one year 15 {2￿04￿64) {2,681.128) (2504264) (2.681,128) Net kissets 5,014,055 4.145.390 5,014,055 4,145,390 Represented by: F.ndowed fund5 21 149,998 147.676 149,998 147,676 Restricted funds 21 lJ75,71)0 25,700 lJ75,71)0 25,700 Unrestricted funds 21 3,488J57 3.972.014 3,488J57 3,972.014 5,014,055 4,145,390 5,014,0.55 4,145,390 Teltenhall College (Incorporated) has taken the ex¢mption from presenting a parent Siaiemenl of Fiiiaiicial Activities incorporaling Income and Exp￿nditUre Accoiints under section 408 of the Compai)ies Act 2006. The surplus for the )'ear deali ii.ith in tlic fuiancial statements of thc charitablc coiiipan). was £866,343 (2022- £471.333}. 23

Tettenhall College (Incorporated) {A Company limited by guarantee) B4lance sheet as at 31 August 2023 (Company number 141727) These financial statem¢nts were approved by the Governing Body on Ib.AP£JL 2024 and were signed on its If by-. J F Woolri (Chairtnan of Ihc Govcrning Body) The notes on pagos 26 to 42 forni part of these financial Statements 24

Tettenhall College (Incoryorated) (A eompany limited by guaran¢ee} Consoli(lated cash flow statemeot for the year ended 31 August 2023 2023 2022 Lyet cash outflow from operations Net cash provided by l (used in) operating activities 1,779J28 1,081,071 Casb flows from investing activitie5: Payments for tangible fixed assets Proceeds from sales of tangible fixed assets (43]2￿) (29.577) Proceeds on sale of inv¢stm¢nts Investment in¢om¢ and bank interest received Net cash used in investing a¢tivi¢ies 5,000 5,000 7,119 (419.171) (24,577) Cgsh flows from financing activitie5: Loan r¢paym¢nls Financ¢ ¢05t5 paid Net cAsh used in financing activities {169,987) (98JOI) (119,626) (80,593) (268288) (200.219) Change in cash and cash equivalents in the reporting period 1,091169 856.275 Cash and deposits at 31 August 2022 lJ61J74 505,099 Cash and dew)sits at 31 August 2023 2,453243 1.361.374 ReconciliAtion of net illCOTne to net cash flow fn)m operating activities Nel inuoming resources Elimination of non-operating cash floivs= Investnient itEcome and bank interest Fiiiance costs Depreciation charg¢ Decr¢asel(increase} in sl(Kk (In¢r¢as¢)Idecrcasc in debtors Incrcasc/{decrease) in creditors 866J43 471,333 {7,119) 98JOI 277283 (36,796} (96.$50) 677,1166 80,593 255,439 (5.9471 48,196 231.457 912,985 609,738 Net cash inflow from operations 1,779J28 1,081,071 The notes on pages 26 to 42 form part or these finan¢ial Statements. 25

Te¢tenhall College (Incorporated) (A company limited by guarantee) Notes (ormillg part of the financial statements for the year ended JI August 2023 LEGAL STATUS OF CHARITY The College is a company li￿lted by guarantee (registerd number.. 141727) which is registered in Engjlatkd and Wales. It registered as a ¢harity on 6ih September 1966 and its charity registrntion number is 528617. The registered o￿tce and principal place of business is W(trod Road, Tctlenhall. Wolverliamptoii. WV6 8QX. The principal activity of Tetienhall College is a successful co-educational. indq)endcnt day and boarding s¢h(K)I for pupils aged 2 to 18. ACCOUNTIIYG POLICIES The financial statements have been prepared in accordance i￿.1th Accounting and Reporting by Charili¢s.' Siotcment of Recommendcd Practice applicable to charities preparing their accounts in accordance ivith the Financial Reporting Standard applicable in thc UK and Republic of Ireland (FRS102) {effe¢tive l January 2015} - (Charili¢s SORP {FRS 102)). the Financial Rew)rting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) and the Companies Act 2006. The College meets the defitkition of a public benefit entity under FRS 102. Assets and liabilities are initially recognis¢d al historical cost or transaction value unless Otherwise stated in the relevant accounting policy. 2.1 Going Concern As part of the assessment made to deterwnine il going concern is the correcl basis for the financial statements, the governors have assessed the biidgets ond foTtcasts for the next 5 years. The Governors have reviewed the funding facilities available to die CollegJ¢ and ¢onlinu¢d support frotn the College's bank tog¢ther with the expected ongoing demand for places and the College's future projected cash floivs. The Governors thereforc have a reasonablc expectation that the Collcgc has adequate resources to coiitii)ue its aetivities for the foreseeable future and accordingly Ihey also continue to adopt the goiiig concern basis in preparirEg the financial stat¢m¢nts. 2.2 Basis of eonsolid¥tion Tlie consolidated finan¢ial statements in¢lude the financial statements of the Collcgc and its 5ub5idiary Iindertaking madc up to 31 August 2023. The results of the subsidiaries, as shown in note 12 are consolidated on a line-by-line basis ivithin the consolidaied Staiement of Finatkcial Activities ("SOFA"). In Ihc College's finanLial stalements, investments in subsidiary Lindertakings are staled al cost less provision for permanent diminution. 26

Tettenhall College {IDcorpor#ted) (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 AUg￿$t 2023 2. ACCOUNTILYG POLICIES (Continued) 2J Critical accounting judgements and key $ourees of estimation un¢ertaiDty Preparation of the financial statetnents requires Govemors lo make significant judgements and estiniates. Thc items in the fjnancial statements wher¢ these judgements and e51imate5 have been made included.. Doubtful debt provision= Fees receivable ar¢ evaluated and a specific provision is applied to eacli account based on managyement's judgement and experience. 2.4 Fee5 and similar earned income Fees rcceivable and charges for services and use of the pr￿nIses. less any Bllowances, scholarships, bursaries grdnted by the Collcgc again5l thosc fcc5, bul including contributions received from reslricled funds. are accounted for in the period in which the servi¢¢ is provided. 2.5 Investment ineome Inv¢sttncnt income Irom dividends, bank balances and fixed interest securilies is acLounled for on ali ac¢ruals basis. IncoTne from investtnent propertics is accounted for in the period to which the rental incom¢ relates. Rental income (ii)cluding incentives reeeived or paid) for operdting leases on investment property are recognised in profit or loss on a .4lraighi line basis ov¢r Ihe l¢asc terni. 2.6 Donations, legxcies grants and other voluntary incoming resources Voluiitary incoiiiing resour¢es are accounied for as and ii.hcll cnliileinenl arises, the atnounl can be reliably quaiilificd and the econoinic benefit to the College is considered probable. Vollintary income for the College's generdl purposes 15 accounlcd for a5 u[￿cstr]ct¢d and is credited lo the General Reserve. Where the donor or an appeal has imposed tnjsl law reslriclions, voluntary incoine is cr¢dit¢d to th¢ rclcvant restricted fund and iiicoming endoivmenls are accoui)ted for as permanent trust capital or expendable trust capital, accoiding to ii.hctheT ihe donor intends retentioii is to be pernifti)enl or not. Gifts in kind are valued at eslimated open market value at d)e dai¢ of g*ifL in the ¥asc of assels for retention or consuTllPtion. 2.7 Expenditure b.Np¢ndiliir¢ 15 accrued a5 ￿)0n as a liability is considered probable. discounted to present value for longer- terni liabilities. Expendilure attributable to moTt ihan OT]e cost category in the SOFA is apportioned lo thein on the basis of tlie estiniated amount altributable to each aclivity in Ihe s'ear, eiil)er by reference to staff lime or thc use madc of the underl)'iiig assets. as appropriate. Irrecoverable VA T is included with tlie iteiii of expenditure to which it Ttlaies. Governance costs comprise the costs of complying ii'ith constitutional and statutory requirements. 27

Tettenhall College (Incorporated) (A eompany limited bv guarantee) Notes forming part of the financial statements for the >ear ended 31 August 2023 AccouprfiNG POLICIES (continued) 2.8 Tangible fixed assets Expeiidilure on the acquisition. ¢onstru¢lion or enhancem¢nl of land and buildings costing more than £I.000 together with vehicles, furnI￿re, machinery, ICT infrastructure and other equiptnent costing tnor¢ than £1,000 are capilalised and carried in the balance sheel at historical cost. Otlier expenditure on equiptnenl incurrcd in the nomial day-lo-day rnnning of the Collcge is charged to the Statcmcnl of Finan¢ial A¢livili¢s as inciirred. 2.9 Depreetation Depreciation is provided to write off th¢ cost of all relevant tangible fixed assets less estimated residual value based on ¢urrent market prices, in equal annual Èn5taltnents over their exp¢cled useful economic lives as follows.. Fr¢chold land and biiildings Fixed Asset improvements Fllrnlture and fittings Vehicles and equipment 100 yeaTS straight line 10 to 25 years straight line 10 years straight line 5-8 years straigyhi line 2.10 InvestTnent8 Listed investments are valued at markct value os at the ba]an¢¢ sheet date. Unrealised gains and losses arising on the revaluation of inveslments are credited or charged to tl)e Statement of Financial Activities and are allocalcd to the appropriate Fund according to thc'ownership" of thc und¢rlying assets. 2.1 I Stock Siock represents goods for resale and is valued at the lower of cosl and net realisable value. 2.12 Fund accounting The charitable funds of th¢ College are accounted lor as unrestricted or rc5trict¢d income, or as endoiiimeiit capital, in accordance ii'ith the terms of tTUSt imw)sed by ihe donors or an}, appeal to whiLh they ii)ay liave responded. Endoivmcnt fund5 arc further sulFdivided llito peniianent and expeiidablc. Unreslri¢led income belongs lo the Collcgc s ¢orporat¢ rc5¢rv¢5, spendable al tl)e discrclioii of the Goveriiors citlier to furthcr the College s Objects or to benefit the College itself. Wl)ere tlie Governors decide to set aside any part of these funds to be used in future for some specific purpose, this is ac¢ounted for by transfer to the appropriate designated fund. Restricted incom¢ ¢ompris¢s gift4 legacies and grdnts ivhere there 15 no capital retention obligation or power bul only a tnist laiv restriction to some specific purpose intended by the donor. Permanent endoivment arises where a donor intends the gift to be reiained pennanently for usc by the Collcgc or for its finanLial benefit (i.e. b), invcstfflcnt). 2.13 Pension costs Retiremeiit benefils to employees of the College are provided through two pension schemes, one defiiied benefii and one defined contribution. Th¢ p¢n5ion Costs chargcd in the Statement of Financial A¢tivities are dclemiined as folloivs.. 28

Tettenhall College (Incorporated) (A company limiled by guarxntee) Notes forming part of the finaneial statements for the year ended 31 August 2023 ACCOUNTIIYG POLICIES (continued) (a) The Teachers, Pension Scheme This schewn¢ is a mulii-cmploy¢r pcnsion scheme. It is iiot possibl¢ to identifj, thc College's share of the underlying assets aiid liabilities of the Teachers, Pension S¢heme on a consistent and reasonable basis and thcreforc, as required by FRS102, it accounts for the schem¢ as if il iver¢ a defined contribution scheme. The College's contributions, which are in aecordance iiith the recomFncndations of the Government Actuary. are charged in the ￿rIOd &n ivhich th¢ salaries to ivhich tlie). relate are pa)'able. (b) The Tettenhall College Groiip Personal Pension Plan This is a defined ¢onlribution group personal pension plan ivith Aegon. Einployer's pensions costs are charged in the period in wl)ich the salaries to which they relate are payable. 2.14 Operating leases Rentals under operating leases are charged on a stsaight-line basis over the lease tenn, ¢v¢n if tli¢ payiiients are nol mic de on such a basis. Benefits rcceived and rtteivable as an incentive lo sign an operaiingi lease are similarly spread on a strdighi-line basis over the lease tern]. 2.15 Financial instruments Basic finaiicial instrnmcnts are initiall) recognised at Iransaciion value and subsequently measiired at amorlised cost Ivith ihe cxceplion of inv¢slm¢nts and cash at bank and in hand ii.hicli are held at fair value. Cash at bank and in hand is defined as all cash held in instant access bank accollllts and iised as ivorking capital. Financial assets held at ainortised c05t comprise trade and other debtor5. A specific provision is ade for debts for iyhich recoverdbility. is in doubt. Financial liabilities held at amortis¢d cost comprise all creditors exc¢pl Social security and other taxes and provisions. CHARITABLE ACTIVITIES- FEES RECEIVABLE 2023 2022 Fees receivable consist of.. School f¢¢s Les5'. total scholarships and bursaries 8J26J83 1644 135 6,860,739 1488 955 CHARITABLE ACTIVITIES- OTHER INCOME 2023 2022 Transwrt Surplug on pupils, rechargeables School trips SqLiash Academy Other Slimmer Camp Uniforn) shop 32.819 726 57,783 8J.$0 8.705 21,900 103 714 29,745 393 30,286 7,750 27,830 29

Tettenhall College {Incorpornted) (A company limited by guarantee) Notes forn)ing part of the financial stalements for the yegr ended 31 August 2023 OTHER TRADING AcfiviTIES 2023 2022 Trading income Hire of facililies- Schijol Hire of facilities- Tettenhall College Enterprises Limited 848 293 314 128 142993 GRANTS AND DONATIONS RECEIVABLE Unrestricted Restricted Endowment Totxl 2023 Total 2022 Development donation5 PTA Pupil Legacy Old Teltetihallians lJ50,000 10,089 50 383 125,000 4,139 10,089 383 30 433 I J60,089 1?60522 129,169 ANALYSIS OF EXPENDITURE Slaff costs (note 9) Deprecialion (note 11) Other Tol*l 2023 Total 2022 Charitable expenditure Ediicalion Teaching Welfare Premises repair and maintenance Support costs and governance Ii)terest payable 3,320.524 366.667 223,624 417,268 18.129 503,730 689.653 768,917 710,873 98,301 3,842J83 1.056J20 1251,695 1,128,141 98JOI 3245,746 914,666 1,083,028 942,563 259,154 Total charitable expenditure 4J28,083 277283 2,771,474 7J76,840 6,266.$96 30

Tettenhall College (Incorporated) {A compally limited by guarantee) Notes forming part of the financial statements for the year ended 31 August 2023 COVERNANCE COSTS Governance included in support Costs: 2023 2022 Remuneration paid to auditor for audit services Other governance costs 18,970 lJ20 20,100 1.200 20290 21,300 Travel expenses were reclaitned by no members (2022.. 0) of the Governtng Body. During the year. indemnity insiirance was in place to cover the ITability of the Governors and other officers in r¢5PeCt of n¢glig¢nt default, brcach of tru51 or brcach of duty. STAFF COSTS AND RELATED PARTY TRANSACTIONS 2023 2022 The ag'greg)ate payroll costs for the year We￿ as follows: Wages and salaries Social security. costs Other pension costs 3,529,519 324,793 473,771 3.058,914 280,344 418,825 4J28,083 3,758,083 Noiie of the Governors received any remunerdtion or other beiiefits frimll Tettenhall College or froin any connected body. Aggregate employee knefits of key m8nag¢ment ￿rSOnnel 544,624 503,047 2023 2022 Number of patd employees in bands of.. £50,00 I to £60,000 £60,00 I to £70,000 £70,00110 £80,000 £80,00 I to £90,000 £140,00 I to £150.000 The number ivith retirement benefits accniin8 in Defined Benefit schemes ivas 31

Tetlenhall College (Ineorporated) {A company limited by gu2rxDtee) Notes forming part of the finaneial Statements for the year ended 31 August 2023 College pension contributions for thes¢ employees amounted to £56,861 (2022.. £52.079) STAFF COSTS AND RELATED PARTY TRANSACTIONS {eontinlled) The average number of the College's employees during the year was: 2023 2022 Teaching Welfare Premises Suptx)rt 80 17 74 15 12 16 117 16 124 10. NET INCOMING RESOURCES 2023 2022 This is stated after charging Depreciation Operating lease rentals ALiditors' rcmuncration.. audit Se￿iceS (¢xclusive of VAT) Auditors, remuneration.. non-audii services (excliisive of VAT) 277,283 38,744 16J08 I,ioo 255,439 40,716 16.750 1,000 32

Tettenhall College (IncoTporated) (A ¢ompany limited by guarantee) Notes forming part of the financial statements for the year ended 31 AMgu5t 2023 11. TANGIIILE FIXED ASSETS Group COll￿e Freehold land buildings Vehitle5 and equipment Assets under the cout3e of ¢on5truction Furniture and fittings Total Cost At I September 2022 Additioiis Disposals 8237,661 379,491 821,644 29077 323,255 21.922 115,297 9,497.857 431,291 At 31 August 2023 8,617,152 851521 34.S,177 115,297 9,929,147 Depreciation Ai I Sgpteniber 2022 Charg¢ for thc year Disposals 1.569211 194*73 566,571 64281 296,978 18.129 2,432,760 277283 At 31 August 2023 1,764,084 630,852 315,107 2,710,043 Net book value At 31 Augus¢ 2023 6,853,068 220,669 30,070 115,297 7,219,104 Al 31 Aiigust 2022 6,668.450 255.073 26.277 115,297 7,065,097 All tangiblc fixed assets arc held for use on charitable a¢tivilies. 33

Tetlenhall College (Incorporated) (A company limited b) guarantee) Notes forming part of the finan¢ixl statements for the year ended 31 August 2023 12. INVESTMENTS C*roiip College 2023 Group 2022 College 2022 2023 At I September 2022 (D¢¢reas¢yincrease in value of investments Addition5 Disposal Investmellts at 31 August 2023 Inve5tment5 comprise: 126,036 2J22 126,136 2J22 134,591 (3,555) 134,691 (3,555) (S.INMI) 123J58 (5,000) 123,458 (5,000) 126,036 (5,000) 126,136 Listed investments Eqllities Transact Portfolio Subsidiary Tetterthall College Ent¢rprises Ltd 123J58 123J58 126,036 126,036 loo 100 123J58 123,458 126,036 126,136 Tettenhall College Ent¢rpri5¢s Ltd is l OIP/o owned by thc Collcgc. Th¢ ￿gIStered O￿lee is Wood Road, Tettenhall. Wolverhi1nipton, WV6 8QX and its registered number 11293295. The profit for tlie period ended 31 August 2023 ivas £62.163 {2022- £82.298). all of which was donated lo the Collcgc. Net assets at 31 August 2023 were £1 00 (2022= £100). 13. DF.wfoRS Group 2023 College 2023 Gloup College 2022 2022 Fees and extras Otlier debtors Amounts o¥%'ed from subsidiary undertaking Loan to subsidiary undertaking Other prepayments and accrued income 321,070 7,797 321,070 1,172 167,264 70,01)O 169,833 729J39 313,471 6,516 313,471 3.133 173,485 169,833 498,700 82,162 402,149 82,162 572,251 34

Tettenhall College {Incorporated) (A Company limited by gu8rglltee) Notes forming part of the financial statements for the year ended 31 Allgu$t 2023 14. CREDITORS: amounts fglling due within one year Group 2023 College 2023 Group 2022 College 2022 DeFK)Sits from parents Mortgage loans (see note 16) Fees received from parents in advance of terni Trade creditOT5 Taxation and social security Other creditors Accruals and dcfcrred incojne 401,140 176J65 ,612,166 283,1100 92,973 66,774 270247 2.903.165 401,140 17606. 1,612,166 228WI 93 J27 264,839 169,987 1.194,664 221,434 113,871 57,157 196,468 2.218,420 264,839 169,987 1,194,664 187,969 106,474 51,453 187,240 2,162,626 255.682 2.831,566 Fees in advan¢¢ r¢pr¢sent payment for lees relating to tem)s within the 202312023 financial year. Movements during the year ivere: Group 2023 College 2023 Group Collegye 2022 2022 Balance at I September Resources deferred d41ring the year Amolints released froEll previous years Balance at 31 August ,194,664 1,194,664 1,095208 1,095208 .612,166 1,612,166 1,194,664 1,194,664 (1,194,664) (1.194,664) (1,095,208) (1,095208) ,612,166 1,612,166 1,194,664 1,194,664 15. CRF.DITORS: amounts falling due after more than one vear Group 2023 College 2023 Group 2022 College 2022 Mortgage 103ns (se¢ not¢ 16) 2504264 2,504264 2,681,128 2,681,128 35

Tettenhall College {1￿corpOrated) (A company limited by guarantee) Note5 forming part of the financial statements for the year ended 31 August 2023 16. MORTGAGF. LOANS Group and College Al the balan¢¢ sheet date. the mortgage loans were ff payable as follow5.. 2023 2022 Within l year In 1-2years In2-5years In more thall 5 years 176,865 182,881 587,289 1,734,094 169,987 176,865 567,963 1,936,300 2,681,129 2,851,115 The loans are secured by fiT5t l¢gal charges over the College's freehold propety. There are two loans ¥vhich b¢ar fixed interest rales of 2.840/0 and 4.9W/o and are being repaid by monthly instslments. Thes¢ loans ivill repaid by November 2035 and March 2036 respeclivel),. Loan inter¢st charged to the Sialemeni of Financial Activities amounted to £98.301 (2022.. £80,593). 17. FINANCIAL INSTRUMENTS Group 2023 Groiip 2022 Financial assets measured al fair value (b) 322,240 297,152 (a) Financial assets include fee debtors. staff loans and other debtors (b} Financial asset5 hcld at fair value include assets held as invesln)ents and cash (c) Financial liabilities include deposits. fccs in advan¢e. tradc creditors. and other creditot 18. LEASES Group and College At 31 Augu￿ 2023, the Coll¢gc had the folloiving commitments under non-cancellable operating leases.. 2023 2022 Operating leas¢s iyhich expire= Within one year Within two lo five )'ears 28,086 14,315 36

Tettenhall College (Incorporated) (A company limited by guarantee) Notes forming part of the financial statements for the year ellded 31 August 2023 19. FUNDS OF THE COLLEGE The College's fiinds are analysed under the following heading5'. ENDOWED FUNDS The Clay endowmeni fund repTesents investments gifted to the College to be held as capital. b) RESTRICTED FUNDS Development Fund This represents donations ff¢¢ived for a specific purpose. namely the continuation of the Tettenhall College Capital Development Plan. Thcsc funds have E*en used for their inlended putW5e and thc vosts wei'e capitalised as unrestricted funds. Accordingly, th¢ balan¢e on this fund lias now been transferred to unrestricted funds. Towers Roof Fund 'I'liis represents donations received for a specific purpose, namely th¢ replacement and repairs of tl)e Toivers roof. 37

Tettenhall College {Incorpor*¢ed) (A company limited by gu2ran¢ee) Notes forming part of the financial statements for ihe year ended 31 August 2023 19. FUNDS OF THE COLLEGE (CONTINUED) Aston legacy A number of painlings and iw)ok5 were left lo the College in November 2017 by forni¢r pupil, Mr Aston. The estimated value of thes¢ is £20,000 and they are hcld as fixed assets. Other restricted funds The other funds represent donations received for spe¢ifi¢ pun)oses which have been used as intended. UNRESTRICTED FUNDS Un￿striCted funds repre5eni accumulated income from the College's activilies and oiher resources that are available for the generdl purposes of the College. 20. ANALYSIS OF NET ASSETS BETWEE1¥ FUNDS At 31 August 2023 Endowed Restricted Unrestricted Total Taiigible fixed ass¢ts Iiivestments Net ciirrenl liabilities Long lemk liabilities 20,OIKI 7,199,104 (i 0.000) (1,196.483) (2504264) 3,488J57 7,219,104 123J$8 175)357 (2,504,264) 5,014,055 133J58 16,640 lJ55.71)0 149,998 lJ75.700 Al 31 Augiist 2022 Endowed Reslricled Unresli'icled Tulal Tcingiblefixed assels SeciirilieJ inve.¥lmenl. NL'( Lzirrenl liahililie. Long lerni litsbililie5 20.000 7,045,097 (5,000) (386.955) (2.681, 128) 3.972.014 7.005,097 126,036 [304,015) (2.68J, 128) 4.145,390 131,036 16,640 5, 700 147,676 25. 700 38

Tettenhall College {Incoryorated) (A company limite(t by guarnntee) Notes forming part of the finaneigl stalements for the year ended 31 August 2023 21. SUMMARY OF MOVEMENTS ON MAJOR FUNDS At 31 August 2023 At I Ineoming Resources Gainsl Sept resources expended (Losses) 2022 Funds transfer At31 August 2023 Unrestricted funds General reserve 3.972,014 7217,959 7,701,616 3,972,014 7217,959 (7,701,616) 3,488,357 3,488J57 Restricted funds Aston paintings OT Bursarial Fund OT Toivers Restoration Project OT Boarders Fiind OT Scholars PrograTllTne PTA donation re projcclor Towers Roof 20,(KIO 20,000 50 2,650 I,-wo 1,500 2,650 1500 10,089 lJ50.0 25,700 1 J60,089 (10,089) 1,350,000 lJ75,700 (10,089) Endowed - Permanent Clay eiidoivment 147.676 147,676 2J22 2J22 149,998 Total Funds 4,145J90 8578,048 {7,711,705) 2?22 5,014,055 Ai 31 AugiLsI 2022 Ai l Jiicomiiix Re5011rceJ Gaiiis/ Scpl resources wended (LoJse&) Fiinds Iruiisfer Ai31 Aiigiusl 2022 2021 Unres¢ricledfiiiiiLs' Genei'L71 re.sorvé' 3,500,681 6,872.218 (6,400,885 3.500,681 0,872.218 (6,400.885) 3,972,014 3, 972,014 Reslricledfiiiids 20.000 io 2.650 l.iOO 1.500 20,000 50 2,650 1.500 1.5UU OTBiirsoriiil Fiind OT ToiverA Reslvralion Projecl OTBo¢ii.der.% Fiintl OT.gLlic)I(￿.¥ Programme PTA donaliun Toifv'ers kilchen 4. 139 4.139 25, 700 14.139) 25, 7QO Eitdfjwed- Permnnenl C'lcij, epicliiitriiiciil 151,231 (3,555) 147.676 151.23J (3,555) 147,076 Tot(Il Fiiiid3 3.077,612 6,876.3) 7 [6,405,024) (3,555) 4, J45,3SIO 39

Tettenhall College (In¢orporated) (A company limited by guarantee) Notes forming parl of the financial statements for the year eDded 31 August 2023 22. PENSION SCHEMES Retirement benefits lo employcc5 of the College are provided through onc defincd b¢ncfit schcme and one defitted contribution scheme. iihich are funded by the College"s and employees, contributions. Defined benefit sehemes The College participales in the Teachers, Pension Scheme (*he TPS") for its leaching staff. The pension charge for the year includes contributions payable to the TPS of £387,972 {2022.. £345,256) and al the y&gr-¢nd £47,211 (2022 - £40.703) was accrned in respect ofcontributioiis to this sclierne. The TPS is an unfunded multi-employer defined ￿nefIts pension scheme govenied by The Teacliers, Pensions Regulations 2010 (as amended) and The Teachers. Pension Scheiiie R¢gyulalions 2014 (as amended). M¢mbcrs contribute on a '"pay as you go" basis Wth Contributions from meinbers and the employ¢r bcing crcdilcd to the Exchequer. Retirement and othcr pcnsion benefits arc paid by publi¢ fiinds provided by Parliament. The ¢mploy¢r contribution rate is sei by the Secretary of Stste following scheme valuation5 undertaken by the Government Actuary's Department. The most recent actuarial valuation of the TPS was prepared as 01 31 March 2020 and the Valuation Report ivas published in (ktober 2023. rollowing the Mccloiid jiidgement, the remed), prowsed that ivhen benefits becotne payable, eligibl¢ tn¢t¥tbcrs can select to receive tliem from eitl)er the refornied or legacy schemes tor the period l April 2015 to 31 March 2022. The actuaries have assLEmed that members are likely to choose the option that provides thcm iyitli tlie greater benefits, and in p￿parIng the 2020 valuation have valued the 'greater value, bcnefits for groups of relevant tnembers. The valliation confirnied that the employer contribution rale for the TPS would increase from 23.60/0 to 28.60/0 fr()m l April 2024. EmployeTs are also required to pay a scheme administration levy of 0.080/0 giving a total employer conlribiition rpte of 28.680/0. Defined Contribution seheme The Tettenhall College Group Personal Pension Plan slarted in Au¥usl 2008. This is a money Plircliase group personal pension scheme managed by Aegon. Basic contribiitions are 30/0 for the emplo}'e¢ aiid 3V/o for the employer. The employer's contributions are charged in Ihe SIAietnent of Fiiiancial Activities in the period in lihich th¢ salarics to iTrhich thc), rclate ar¢ du¢. The ¢mplo)¢r's ¢ontribulions in the year amouiited to £85,7W (2022-. £73,569)- At 31 August 2023 there were £16.294 unpaid pension ¢ontributions for thi5 schctnc {2022= £10.751). 40

Tettenhall College (Incorporated) (A company liniile(I by guarantee) Notes forming part of the financial statements for the year ended 31 August 2023 23. MEMBERS, FUNDS The College is a company litnited by guarantee and does not have a share capital. The liability of eacli member ts limited to an undertaking to contribut¢ to the assets of the College such amount as may bc reqliired not exceedin8 £1 O in the event of the College b¢ing ivound up. The Memorandum provid¢8 that no amouiit may be di5tribut¢d to menibers and that, on a winding Upy aiiy surplus assets shall be given to an institution with similar objects. Accordingly. there are no equity interests in the fiinds of the College. 24. RELATED PARTY TRANSACTIONS The Headmaster's ivife is an employ¢¢ of thc Sch(K>l. Her appoinlmcnt iva5 made independeiiily and her remuneration is in line ivith the School's pay policy. The Headmaster ivas not involved Tn the employment decision-making process. The Headmast¢r'5 wifc is a member of thc K¢y Management team. 25. PROCEEDS FROM BUSINESS INTERRUPTIOIY CLAIM In the prior year the College pursued a Biisiness Intem]ption Insurance claim regarding the loss of incom¢ due to thc Coyid paiidemic. The insuranLe ¢otnpany accepted liabilit), and pa)'menl was received in May 2023. 41

Tettenhxll College (Incorporated) (A compally liniited by guarantee) Notes forming part of the financial statements for the year ended 31 August 2023 26. STATEMENT OF FINANCIAL ACTIVITIES- COMPAILiTIVE FIGURES BY FUND TYPE Year ended31 AiiRiLsi 2022 Unrestricted Reslricled Endowed Fuiid3 Ivlol Jnconie undÉiidowmertlsfronL Cliuriluble uelivilies .So'h()IilfL'es receivcible AnLillory tra<ling income her Irading aclivilies Non-aiicillary Irading income liiv¥Jlments I￿vaSt￿e￿I income Bank and oiher inleresl VoluHlary 5011rces Granls anddonalions PrcKeed.f frnm inleri'uption claim 5.371, 784 173, 736 5,371, 784 173, 736 143. 121 J43. J2J 125,030 4.139 J29.J69 J.058,547 1,058.547 Tolol incoming rejepurces O.X72,218 4,139 6,876,357 Expendi/Hre on." Cliarilable acliviligs Ecliitalion Other Iradiitg llclivili£s Ti'ddiAg uLlivi¢iL.s 6,262.4) 7 4.139 6. 266, 596 138,428 138,428 Tolul aKpeiidiliire 0.400.885 4,139 0,405, 024 42

Tettenhall College (Incorporated) (A company limited by guarantee) Detailed income and expenditure account for the year ended 31 Aug￿$1 2023 The pages that follow do not forni part of the statutory rinancial statement5 of the College 43

Teltenhall College {Incorporated) (A eompany limited by guarantee) Delailed income and expenditure g¢¢ount for the School for the vear ended 31 August 2023 2023 2022 Page School fee5 (gross) 8J26J83 6.860,739 Scholarsbipsj grxllts and allowanees (1,644,135) (1,488,955) School fees (net) 6,682,248 5,371.784 Other operating income 46 1553,816 1,366,145 8336.064 6,737,929 Direct costs Te¢Lihing Welfare Premises Support costs 45 45 45 46 3042 J83 I,Oi6J20 ]251,695 1.128,141 3.245,746 914,666 1.083,028 942,563 {7,278539) (6,186,003) Operating (deficitvsurpltts for the vear 957525 551.926 Interest receivable and similar income Interest payftble 46 46 7,119 (98?01) (80,593) Deficit on ordinary 3ietivitie5 for the year 866J43 471,333 44

Teltemhall College (Incorporated) (A £ompxn)' limited b). guarnntee) Detailed ineome And expenditure *e¢oun¢ for the School for the year ended 31 Augusi 2023 2023 2022 Teaching Teaching salaries and pensiorl contributions EduLational materials CoTnmission Squash Academy S¢hool trips School stationery Library Speech day expctkses Prizes School nin Deprcciation & loss on disposal: Educational equipment 3 J20524 103,46 223,183 6094 57,783 12J94 3,470 IOJ42 120 86,084 2.900,923 78,422 116,188 5.845 30.586 7,822 5,348 6.950 1,821 77,689 18,129 14,452 3,842J83 3.245.746 Welfare Salaries and wages Sodcxo Provisions Surgery Cleaning materials Laundry Bedding and linen Catering costs 366,667 601226 18272 6,622 35,669 7,294 4,408 16,162 304,985 522,799 14,488 7,142 34,658 9.280 4,428 16,886 1,056?20 914,666 Premises Rates alld ii'aler Heating and lighting Insiirance Salarie5 and wages Property repairs atkd maintenance Fumitiire and fittings MeLhanical and outdoor equipmenl Depreciation &1055 on disposal- Building>s Fiirniliire and fittings 82,409 81,357 216,812 40,761 202,934 252,339 2,347 45,492 51204 223,624 267J23 7,226 62,901 194,873 64281 179,693 61,293 ,251,695 1,083,028 45

TettenhAII College (Incorporated) (A compan) limited by guarantee) Detailed income and expenditure account for the School for the year ended 31 Augus¢ 2023 2023 2022 Support Costs Clerical salaries Telephone and postage Office and stationery IT 417268 30,146 52,042 76,892 8,719 185,689 2,284 201,114 349,241 26.228 10,693 69,432 Retention events Publicity Incid¢nta15 Bad and doLibtFul dcbt provi5i0lI Bank rhargcs Profcssional charges Audilors, remun¢ration Financing charges 200.619 16,340 174,455 15,616 64,529 8,150 7,260 111534 17290 8098 1.128,141 942.563 Other operating income Sehool run SurplLlS on pupils. insurdnce and rechargeables School trips Lettings and renl received SqLiash Academy Summer Camp (hhcr iiicome Donations 32,819 726 57,783 29,745 393 30.286 127 7,750 27,830 1,058,547 211,467 8J50 21,900 1,422,685 lJ53,816 1.366,145 Inlerest receivable and similar income Bank deposit and fixed lem interest 7,119 Interest Payable 98JOI 80,593 46