2025-08-31-accounts

THE READ SCHOOL, DRAX ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025 Registered Charlty Number: 529675

THE READ SCHOOL, DRAX REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 CONTENTS PAGES Officers ond Prolessionol Advisers Governors. Report 3- 19 Auditor's Report 20-22 Statement ol Finonciol Activities 23-24 Bolonce Sheet 25 Cashllow Statement 26 Noles lo the Accounts 27-41

Page I THE READ SCHOOL, DRAX OFFICERS AND PROFESSIONAL ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 Choity Numbèr 529675 Registered Office ond Opèrolionol Address Th8 R&ad School Main Road Drox Selby Y088NL Governors and Chorlty Trustee The Govemors ore the director5 of the corporote trustee. The Read School. Drox. Trustee Limited (company number 072368841. Those In office durang the yeor ond 5ub5equenlly ofe.. Mrs J Breach Mr 8 8ugg' loppointed 3 October 20251 Mr5 T Butler, Mr G Campbell, Mrs M Clayton loppointed 4 June 20261 Mr J Deon loppoinled 3 October 20251 Mr R Dempsey loppoinled 3 October 20251 Mr5 S Dillon - loppoinled 4 June 20261 rs L M Duke5 Mr5 N Gorrett loppointed 4 June 20261 Mr5 J Gosney loppointed 3 Octobèr 20251 Mr J Inglis (resigned 3 October 20251 DF R Medlock ' loppoinled 3 October 202SI Mrs K O'Hoia° Mr D Piilchard Mr C 5vnley' Iresigned 6 Oecember 20241 Mr B Walt (resigned 3 October 20251 Dr R White 11 l Member ol the Finonce & Audit Sub-committee 121 Member of the Premises. Heolth & Sofety Sub-committee 131 Member ol the People. Legol & Doto Sub-committee 141 Member ol the Saleguording & Governonce Sub-commillee 151 Member ol the Moikeling. Commvnicolions & Reod School Fovndalion Sub-commitle 161 Member ol the Educolion. Teoching & Learning Sub-commillee Key Management Personnèl Mrs R A Ainley Mr M Voisey Mr S A Hvnter

Page 2 THE READ SCHOOL. DRAX OFFICERS AND PROFESSIONAL ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 Bank•rs Borcloys Bonk PIC 1. 2 ond 3 Poiliamenl Street York North Yothshire YOI IXD Solicilors Wornble Bond Oickin50n IUKI Limited Nol Whit&holl Riverside Leed5 LSI 48N Insurance 8rokers and Health & Safety Advlsor5 Heltle Andrews Eleven Brindleyploce 2 Brunswick Squore Brindleyploce Biiminghom BI 2LP Audltor5 Henton & Co LLP Chortered Accountants & Slotutory Auditors 124 Acomb Rood York North Yorkshirè Y024 4EY

Page 3 THE READ SCHOOL, DRAX GOVERNORS. REPORT YEAR ENDED 31 AUGUST 2025 The Boord of Governors, os directors ol the corporate trustee ol the charity. present their annual report lor the yeor ended 31 August 2025 under the Charities Act 201 I, together with the oudiled financial statements lor the year. Reference and odmini5trolive informotion set out on pages l and 2 form part ol this report. The linanciol stolements comply with current stolulory requirements. the memorandum ond orticles ol ossocialion ond the Stulemenl ol Recommended Practice Accounting ond Reporling by Chorilies SORP applicable lo charities preporing Iheir occounls in occordance with FRS 102. STRATEGIC AIM AND OBJECTIVES The object of the chority, in occordonce wilh its Trust Deed. is the educolion ol children up to the oge of18 years. In lurlhering this object. the Governors. os directors ol the corporole trustee of the chority. hove complied with the duly in s. 17 151 ol the Choritie5 Act ?01 I to hove due regard lo the Charity Commission's published guidance concerning the operotion of the Public Benef1t requirement under Ihol Act. Read School Slrotegic Aim The Board's 51rolegic oim in order to achieve ils annuol objective lor public benefit as a charilable independent school is 10.. mointoin o worm ond welcoming school with on inclusive ethos lor pupils ol oll obililies and backgrounds.. enoble all pupils lo realise their academic polenliol with o brood ond rich curriculum Ihal promote5 0 lifelong love ol leorning., ensure public benefit. recognising our extroordinory potential lo serve the local community. We ore committed lo sharing our resources and skills ond embroce our social responsibility to serve others ond develop well-rounded. resilient and aspiralional young people who hove the confidence. enablement. skills. oltiludes and values to achieve their lull polenliol in Iheir chosen coreers and lo make a positive contribution lo society. Objeclives for the Year 2024-25 The School's principal objectives for the yeor were.. To maintain and enhance the School's reputotion and increose aworeness ol Ihe School ond our oim lo be the school ol choice lor parents seeking an ou151onding oll- round ond lull education lor their child. To grow the pupil roll. while maintaining a lavourable stalf-.pupil ratio To build on colloboralive orrangemenls with locol schools lo widen occess lo the facilities and educolion opportunities avoiloble at Read School. To prepore lor. ond manoge, the impact of the introduction of Volve Added Tax on independent school fees from l Jonuory 2025.

Poge 4 strategles to Achleve Ihe Year's ObJecHves In order to mointoin ond enhance the ocodemic ochievemenls ol our pupils ond to provide on outstanding all-round and lull educolion lof our pupils, we mainloined o lavouroble sloll.'pupil rolio ond continued lo cuslomi5e our leoching progromme lo meet the individuol needs of our pupils. Recruilmenl ol riew pupils remoined o lop priority and marketing efloils continued lo build the profile ol the school within the local Oreo. A robust moikeling progromme included Open Days. locol press coverage. odvertising. o weekly newsleller and social media. Prlnclpal Actlvlly and Income Sovices The Chority, s principol octivify continues to be the provision ol Doy ond Boording schooling lor pupils aged 4 10 18 years with boarding pupils occepled from 8 years old. As in previous yeors the chority's principol source ol income hos been school fees ond the ending pupil roll lor the ocodemic year 2024125 was 268 pupils. Read School Enlerprise5 Limited. 0 Subsidiary company (the profits from which ore donated lo the Chorityl generated revenue from the letting ol the School's facilitie5 from which the profits were decreased (around 46T.I from the previous year. Our portnership with Kids, Corner, a locol pre-school provider, continues lo provide o steady rental income stream lor the School os well as feeding Reception pupils lo the Lower Junior School. Addilionol funds were generated from donations, the Read School Foundolion Committee. the Reod School PFA Committee. ond working in close cooperation with the Draxonians, AsSOClQtion, continuing to cultivole olumni relations ond potential beneloclors. Grtsnl Making and Access.widening Widening access lo the School and ensuring thol the School exists for the public benefit remoin key objeclives ol the Governors. This is in accordance with the historical. oltruislic oims ol Chorles Reode with the loundotion ol the School iri 1667 ond Ihe School's period ol operation os a Voluntary Aided Boys, Grammor School until 1967. While the School has limited Ivnds ol its disposal. Ihe Governors continued lo oword scholorships. bursaries. speciol owords ond other discounts to deserving pupils. Bursories are aworded on a means-lesled basis and scholorships are openly aworded on merit or special recommendotion. During the acodemic yeor 2024125 0 total of 93 students were in receipt of bursories. scholarships. CEA Ilorcesl and / or other speciol owards. A further 66 pupils received sibling or stoll discounts. The distribution ol funds os o percentage ol gross lees before discounts is.. 5.0% scholorships and 5.6% 51ofl 15ibling discounts. Means-lèsled bursorie$134 pupilsl account lor 4.2% 01 gross fees. Total lee remi55ion os o percentoge ol gr055 lees is 24.31.. The School has 0150 worked with a number ol exlernol bursary schemes including the Emmott Fovndotion. School Fees Charitoble Trv51 and Thornton-smilh & Plevirns Trust lo ensure enhonced linanciol support lor eligible pupils. Read School ogoin mode ils sports focilitie5 avoiloble to other local schools. clubs ond organisalions. This is either al no charge Ischoolsl or at rotes which ore below olherwi5e commerciolly ochievable Ilocol clubs ond organisolionsl.

Page 5 Volunleering and Charitable Outreach The School has an active Porenls. ond Friend5 Associolion IPFAI. which holds sociol. sporting ond lundioising events lor the benefit ol pupils and parents. The Alumni Association. the Draxonions, A5sociolion. is a major supporter ol the School. The School is 0150 generously supporled by the Moloney Trust which provides lunding for music and Ihe arts ond continues to provide resources lor the deportment. The School again provided opportunities lor individu015 to goin work experience 05 parl ol their requirements lowords completing qualilicalions and o rnumber ol volunteer5 hove helped wilh in-school activities. Read School continued its ITT progromme. working with local universities 10 supporl eight PGCE students. REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR Pvpll Roll We slorted the year with a pupil roll 01248 in September and ended in July 2025 wqth 268, reflecting good ongoing growth, particulorly in the Senior School. This growlh wos driven by Several parent referrals and o heollhy slreom ol enquiries. both ol which ore a leslamenl lo our reputation lor rnurturing. high-qualily education. Boording sow a 14% increase. and our flexi-boarding and wroporound core options oltrocled lomilies seeking flexibility and support. The Reod School nelwork conlinues lo grow and we consider ourselve5 very lucky to hove such supportive porent5 who ore o conslanl source of new parent referrals. Throughout the yearwe also welcomed many inlernolional students lo Drox. some coming os part ol group educotional visi15 ond some individuolly for lornger-sloy immersion progrommes. A1101 these visits provide Read pupils with a good opportunity lo pul language learning into practice. leorn about different cultures ond build friendships. Lower Junior School Our youngest leorner5 in Ihe Lower Junior School embroced o yeor filled with creolivity. exploration. and community spirit. The nurturing environment of LJS. combined with specialist teaching in Music. Art. PE. and Games, ensures that every child experienced a rich and varied curriculum, fostering curi951ty ond confidence. One ol the key benefits for our youngest pupils of being parl of on oll through school is the opportunity to parlicipote in whole school evenls and octivilies and 1051 year LJS pupils look parl in o number of these including.. Europeon Longuoges Day, the Drax Church Horvest Feslivol. the onnual Moloney Trust Compelition, a Chrislmos Corol Concerl. Read's Gol Talent, our Easter Service and Commemorotion Day. The Performing Arts al Read ore celebroled throughout the whole school ond LJS pupils staged three concert5, including o heort-worming nativity ploy. Christm05 with the Aliens. o joyful Easter showcase. and o vibront Summer performance. Our Mother's Doy Allernoon Tea wos a delightful celebrolion ol family. and educolionol visits to The Deep. Yorkshire Wildlife Park. ond Boslon Park Form brought leorning to life. Upper Junior School Upper Junior pupils continued lo flourish ocodernicolly and sociolly. with a curriculum designed lo strelch ond support each child. Senior School leochers delivered lessons in Moths. English, ond Science. helping Yeor 6 pupils earn their coveted 'Bunsen bumer licences. o rite ol possoge Ihol eases the transition lo Senior School.

Poge 6 Key highlights ol the yeor included fomily workshops. the Young Voices concert ond Worfd Book Day celebrations while trips to Led5ton E51ote and the Summer Teim Robinwood residential week provided slandoul experiences outside the classroom. In the Junior School as Ihroughoul the senior School, pupils ore given opporlunities to 5howcose their talents o mullilude ol arenas: In sports Upper Juniors pupils represented Read school in rugby. foolboll. cricket. hockey, netball, ond rounder5 ocross U9 ond U I I levels while cr055-counlry ond othlelics competitions yielded impressive individual results. Beyond porticipoting in whole school musicol events. church services and concerts. UJS olso put on two phenomenal perlormonces of 'Drogon Doys, and the production which included 0 Sel designed ond built by pupils. was o triumph ol creolivily ond colloborolion. The Junior School end ol year Summer Concert showcosed musical and dramatic lalenl in obundance. Small closs sizes ond lermly Hodder Rising Stors 05se55ments enobled toilored acodemic Support ond progre55 trocking lor every pupil. Regular parent evenings and deloiled reports ensured families remained closely involved in Iheir child's progress. The Year 3 clo55room received a full relurbishmenl over the summer holidoys, including new carpels and decoration. Junior chonging room5 ond loilel facilities were upgraded, and new 51oroge 501utions were installed lo support our growing collection of 5port5 and teaching resources. Senior School Former Read School Heodmoster. Mr EV Wolkins lomously slates in a 1923 Droxonion publicolion Ihol 'The work ol Ihe School is not subservient lo the mere possing ol exominalions, ond this certainly rellecls our enduring commitment lo providing on education which delivers more than 'jusl' grades ond ensures that eoch pupil. upon leoving the School, hos skills and enablement to sel them up lor life. As much as Reod School strives to provide a rounded education and lo moinloin our historically inclusive. non- ocademicolly selective ethos. our oim is to ensure Ihol eoch pupil ochieves their lull academic potential. ond il wos therefore very ple05ing to see Ihe excellent results achieved in externol exominations this yeor. Examination Result5 Svmmer 2025 Our 2025 A-level & BTEC results were the best in the School'5 history wilh 43.2% 01 grades ochieved ol AlA'. 11 is always a poignant moment celebroting with student5 ond familie5 on resulls doy and we were porticulorly thrilled thol so many students who opplied lo university, achieved their first choice ol place. from University of Shellield. The Courtould Institute ol Arl. University ol Northumbria. Sheffield Hollam, City University London ond Monche5ter Metropolilan University. Two students secured opprenticeships and ￿0 more opted lo lake o pre-university gop year. AI GCSE 88fo ol GCSE posses ochieved weie ot grade 4 or above and 48fo ol these were grodes 9-6 |A'_Bl. This compares extremely lovourobly with the nolionol overoge GCSE poss rote 0167.4% and 63.6% in Yorkshire & Humber. We ore immensely proud ol the 2024-2025 exomination cohorts who showed great resilience throughout o demanding examinolion series while olso notching up so many ochievemenls throughout their time at Reod School. Wlè wish 011 leovers every success os they embark on the next exciling stage ol their journey.

Poge 7 Senior School Academic Highlights Engllsh.. Key Stage 3 pupils undertook Reoding Age tests, leading lo a Buddy reoding scheme with Sixth Form ond Year I I students. Shakespeare studies expanded with schemes on Mocbelh. A Midsummer Night's Dream, ond Romeo and Juliet. Year 9 began GCSE poetry analysis from the AQA onlhology. Senior School pupi15 porticipoled in the Young Writer's Poetry competition Theotre trips included An Inspeclor Colls in Hull and Richard 11 in London lor A-level students. The Level 2 Functional Skills qualification Iconsidered a direct equivolent to o GCSE ol grade 4 ICI wos introduced in English. ollowing pupils lo demonslrale essential literacy ornd communicolion skills. Mothematlcs Further Moths GCSE continued to stretch ond chollenge our best mothemalicions and the popularity ol A-level Maths grew with Ihe enrolment ol our lorgesl ever cohort. Senior pupils porlicipoted in the UKT Junior, Inlermediole ond Senior Cho51enges.' 7 Yeor 7 pupi15 achieved Bronze or higher ond 2 Year 8 pupils earned Gold. In the Intermediole Challenge Read achieved 5 Bronze, 6 Silver. ond l Gold oword and in the Senior Chollenge two sludenls ochieved Gold, wth one stond out merit aword. The Math5 deportmenl olso celebroted success in Entry Level Math5 ond Level l & 2 Functional Skills in line with our possion to foster numeracy within our students ol every level. Sclence The Reod Science department contiriued lo provide o honds-on oppioach lo scientific study, with daily practicol experiments and a range ol exlra-curriculor chollenges to inspire ond stimulote our young scientists. Science Week featured disseclions. guest speokers, ond indu5try-led workshops. A CREST Club wos lounched lor students with an appelile lor additional honds-on Science ond projects ronged from Parkinson's-lriendly gome controller5 10 air quolily monitoring. Yeor 10 ond 12 entered nolionol Biology competitions while Yeor 12 completed o biotechnology module with Hull Universify. A-level Chemistry sludenls visited York University ond Drax Power Station lor advanced lob work. Year 6 pupils were again welcomed into lobs to build early practical skills. Performing Arts Music The Music deporlmenl continues lo thrive ot Read School with mony pupils leoming an instrvmenl ond having weekly lessons in school. Three Reod pupils currently sing 05 choristers ot Selby Abbey. The school-wide Moloney Trust competilion saw o diverse range ol instruments and obililies wilh over 50 pupils ol all oges performing for the odjudicator. Music groups, including Olfbeal Iyear 7-8 choirl, Harmonize Iyeor 9 to Vl Form choirl and a Baroque group thrived while Theory Club provided odditionol musicol stretch and challenge.

Poge 8 Pupils showcased their musical lolenls in school plays. musicol ensembles, arnd public perlormonce5 Qt Open Doys. Church services and concerts, loslering confidence ond creolivily. We were delighted lo slrenglhen our partnership with Selby Abbey with both our Chrislmos concert 05 well os our very first Commemorotion Doy Service held in the obbey s moje5tic selling. Drama The Dromo department successfully broadened its acodemic ollering in 2024-2025. building on the existing GCSE quolilicolion lo odcj A-level Dromo. The rigorous Key Stage curriculum continued to focu5 on developing self-conlidence, communication skills. creotivily and teamwork. equipping students with o toolkit ol Ironsleroble skills Ihol opply lo the 51oge. further studie5. ond the workplace. The highlight ol the year was the Senior School Production ol 'Chicogo - Teen Edition,, involving 45 senior school students in the cost. bockstage. ond technical teams. students beneliled from severol key trips. including o GC5EIA-level trip to see 'Blood Brothers, ol The Grond Opera House in York and on A-level visit lo the Wesl Yorkshire Playhouse to see the immersive ond inleroclive proctilioner-slyle performance 'Feel Me, by Poper Birds,. The Droma department was thrilled to receive significant supporl from the Moloney Trust Foundation. which funded o new sound system ond Rodio Mic set-up, debuting al the opening ol'chicago,. Creative Arts Art The 2024-2025 accdemic year w05 0 vibronl celebrolion ol creotivity ocross all oge groups. From intricate paper cutting lor Chinese New Yeor lo A-Level Phologrophy. 51vdenls embroced artistic expression wilh enlhusiosm and skill. GCSE ond A-Level'. Year 10 explored themes like 'Under the Seo ond Autumn., while Year I I compleled their Sustoined Projects. Sixth Form students launched into A-Level Photography. with impressive entries in 5ea50noI competitions. Cross-curricular Collaboration.. The Arts ond Croft Club portnered with English lor the 'Read lor Pleo5uie lilerocy iniliolive. highlighting crealivily across disciplines. Culturol ond Environmentol Engogement.. Sludenls explored Dia De Los Muerlos. recycled plastic into Spring flowers. and participated in the 'Rescue, Reuse ond Recycle House Competition. External Recognition- Entries were 5ubmilled to the prestigious Royal Academy ol Arts Young Artists Summer Show. Enrichment and Outreoch.. Year 10 and 12 visited the V&A ond Tate Modern in London. while GCSE pupils presented their work to piospeclive Yeor 9$ and attended an Art & Design coreers webinor. Food Pre aration & Nutrition The FPN deportment combined practical learning. culturol experiences, and ocademic ochievement. Hands-on Learning.. Yeor 10 students practiced butchery and creoled vegetarian and vegan d15hes. Year I l ollended a cheese-moking workshop with Yorkshire Domo Cheese. Culturol Celebrations. Chinese New Yeor wos morked with dumpling-moking workshops led by a visiting expert.

Poge 9 International Enrichment.. February s food trip lo Sorrento. Italy included visits lo mozzorello and olive oil producers. posto/pizza cookery closses and historical tours ol Pompeii ond Herculoneum. Creative Challenges.. Students created themed lococcia breads and gingerbreod houses. showcasirng orlislic Iloir in culinary form. Acodemic Achievement.. In oddition to the laiger number ol students who ochieved Ihe core GCSE FPN qualification, severol Yeor I I pupils earned AQA Food Science l Heollhy Eoling unil owords. Future Polhwoy5'. Plon5 ore underwoy to inlroduce the Level 3 Food Science ond Nulrition qualification in Sixth Form, expanding career opportunities in the food industry. Desi n Technolo 2024-2025 was certoinly an irnspiring yeor for Design and Technology. with student5 ocross oll yeor groups embracing innovolion. creolivify. ond honds-on leorning. Enterprise ond Innovation.. Year 7 launched into enlerprise lesson5. developing business ideas ond pitching them in o 'Drogon'5 Den. sly1e chollenge. Creolive Conlribulions.. DT students designed and built the sel lor the school's Chicago production. creoted 5ignoge for school spoces. ond supported chorilies with loser-cut poppies and Pudsey Beors. Competitions ond Projects.. Pupils competed in o regionol DT challenge in Leeds. while Yeoi 9 built lunclionol mini trebuchets in the 'Co5tle Altock" project. Digitol Design.. Students begon learning CAD software, goining reol-worfd design Skills. Community Engogemenl.. DT stalls ol the PFA Summer Fun Day were o hil with fomilies, Showcasing the deportmenl's cieolivily and oulreoch. Senior Achievement.. Yeor I l and 13 completed impressive NEA projects, and Year l O visited Ihe Design Ivluseum in London lor inspiration. Susloinobility Focu5'. Pupils explored recycling by transforming bottle tops into plastic Sheets, reinforcing eco-con5cious design principles. DT ot Read continues to empower students to think creatively. solve problems. and make a meoninglul impact Ihrough design. Senlor School Sports 2024-2025 was a dynomic and rewording one lor sport ol Reod School, with a packed fixture list across a wide range of disciplines. Pupils competed in rugby. loolboll. cricket. hockey. netball. rounders, olhletics, bodminton, tennis. golf. and both gir15' lootboll ond cricket- demonstrating our commitment to inclusivity and excellence. Competitive Spirit.. Read moinloined strong performonces ogoinst both indepern(Jenl ond local comprehensive schools, fielding teams thal bolonced participation with competitiveness. Community Links.. The PE Deporlmenl further slrengthened porlnerships with local clubs including Selby RUFC. Goole CC. ond Howden FC. enhancing training and facility occes5. Acodemic Sport.. GCSE ond A-level PE and BTEC Sport continue to thrive. with strong uploke ond excellent outcomes. Moderation leedbock hos been glowing_ Football Academy.. Our colloboralion with Ponlefrocl Collieries hos flourished, with three Sixth Form sludenls representing Reod with dislinclion. hAorbello Sport5 Tour.. October's senior lour to Spain w05 0 resounding success, offering pupils the chance to compete internationally in rugby, loolball. and netball while building comoroderie and unforgelloble memories. Reod pupils continue lo approach every fixture with passion, resilience, and pr1d￿h011m0rks of ovr sporting ethos.

Poge 10 Hvmanilies The Humonities Deparlmenl hos ollered students o rich tapestry ol learning experiences thi5 year. blending academic rigour with immersive fieldwork ond culturol explorolion. Geo ro Yeor I I students undertook o field trip lo hAalham Cove ond Skiplon. invesligoting streom choracteri51ics ond conducting environmental surveys lo assess Skiplon's role as a market lown or tourist deslinolion. Preparotions ore underwoy lor the deporlmenl's filth trip lo Iceland in October, promising another unlorgelloble opportunity lo study volcanic ond glociol londscapes first hond. Hi510 Pupils honoured Reod School's fallen alumni during the Remembronce Day sep4ice. researching their lives and shoring reflections ol the Church ol St Peter and Sl Paul. The Easter Normandy trip deepened students, underslonding ol hi51oricol events by connecting them to real people and places. reinforcing the personol dimension of historicol study. From the rugged beouty ol Yorkshire to the solemnity ol Normondy and the icy wonders of Iceland, Humonilies students hove explored the worl(J ond its stories with curiosity ond respect. Read is fortunote to hove o thriving Business Studies ond Economics deportment. with students combining academic learning with reol-world enterprise and career exploration. The 2024-2025 acodemic year begon with o GCSE group chollenge exploring planning ond colloboration. culminating in creative lond edible) posla tower designs. Our March Careers Week welcomed over 40 companies to Moloney Hall, giving pupils from Reception lo Year 13 voluable insights into diverse coreer poths. Industry feedback proised Read pupils, curiosily and prolessionolism. Enterprise ond Charity.. Year 10 ond I I sludents lounched their own ventures for the Christmas Fair, roising signiliconl Funds foi chority while spreading festive cheef. Academic Achievement.. Yeor I l and 13 GCSE ond BTEC Business and A-level Economics student5 completed their courses with excellent results and gained hands-on experience in the workplace Business Studies at Read conlinues lo inspire entrepreneurial thinking. coreer reodiness. and communily engogemenl ond we ore very proud ol the susloinoble links developed through the Reod Business Network lor the benefit ol Cuffenl ond future Read School pupils. Modern Forelgn Langvage$ & Classlcs In 2024-2025 Read School's Languages Department continued lo thrive, offering a rich ond diverse curriculum that rellecls our globol outlook. With neorly 107¢ ol pupils from overseos. Reod remoins a truly international school. Curriculum Breodlh.. Pupils studied French, Spanish. Lolin Ifrom Year 81. with the odditional oplions ol German and Chinese ond quolilicalions extending lo GCSE ond A-level ond beyond. Cullurol Celebrations.. The European Doy of Longuoge5 feotured o celebrotion ol languages. a vibronl cake competition and dress-up doy, roising over £400 lor Selby and District Foodbonk.

Poge 11 Chinese New Year.. Pupils engaged in cross-curricular octivilies including dumpling-moking in Food & Nutrition, poper cutting in Art & Design, and slorylelling in Eorly Yeors. Trips and Exchanges.. A joint French-Hislory trip lo Normondy ollered immersive experiences in language. culture. and mililory history, including visits to D-Day siles ond war cemeleries. The inougural Germon Exchonge to Filderslodl gove pupils o chonce lo explore Baden-wurtlemberg, visit cullurol londmorks. and experience Germon family life. Computing Thisyear sow exciting developments in Computing and imedio. with curriculum enhoncemen15 ond honds-on innovation. Curriculum Exponsion.. Year 7 ond 8 pupils benefited from new imedia modules. including vector grophics ond digitol design. Competition Success.. The International Bebr05 Chollenge saw 12 students earn Gold Awords. qualifying lor the Oxford University Computing Competition. STEM Engogemenl.. Students atlended the Royal Institution Christmas Lecture or) Al ond explored deepfoke technology, VR heodset5. and robot dogs al the National STEM Cenlre. Mochine Leorning Projects-. Yeor 9 pupils used 18M Watson to create interoctive Al projects. blending creotivily wilh coding. Industry Exposure.. Future Computer Science students visiled London lor SheConErngineer STEM Doy. engoging in space slalion design. Lego robotics. and networking with female engineers. Inclusive Learning.. Compvling units were adapted to support all leamers. with notable progress omong SEND pupils. Adventurous Actlvlty ombined Cadet For The Reod School CCF is over l QK) yeor5 old and provides pupils with opportunities to develop leodership. leomwork, ond resilience through chollenging Iroining and odventurous outdoor octivities. In 2024-2025 code15 land the Reod CCF stoll teomll again demonslraled oulstonding commitment. leadership. ond community spirit through o wqde range ol ochievemenls and aclivilies. Leodership & Recognition: Two sludents earned ILM Level 3 qualilicotions in Leodership and Monogemenl. One ol these students was oppoinled North Yorkshire Lord Lieutenant's Cadet lor 2024125. with the second Sel lo follow in 2025126-morking three consecutive yeor5 of this prestigiou5 honour for Read School. Cadet Progres5ion'. The RAF section celebroted three new Moster Code15. while ormy codels progressed through Basic. One Star. ond Two Sloi training, supported by our new air rifle ronge ond First Aid certilicolion. Instructionol Roleg.. Cadets undertook Methods ol Instruction and Junior Instructor courses. preparing them lo mentor younger peer5. Ceremonial Excellence.. The conlingenl led o Remembrance Day porode and commemorated the 80th onniversory ol VE Day with a drumheod ceremony and picnic. A new Union Banner wos unveiled. supported by lundroising and a lelter ol recognition from His Mojesly King Chorles 111. Community Impocl.. Over £1500 wos raised lor SSAFA through events like 'Book5 and Bakes ond o l Okm wolk led by Fg Off Oliver. Codels also supporled local initiatives. from decoroling the church to mentoring younger pupils.

Poge 12 Adventurous Spirit.. Codets porlicipoted in comp5. competitions. ond excursions including loclicol troining in Cyprus. adventure Iroining in Nidderdale. ond STEM visits to RAF Leeming. Highlights included flying. gliding. bouldering, ond cloy pigeon shooting. The CCF continues lo be o cornerstone of charocler development ot Read. inslilling resilience, leadership. ond service in every cadet, Duke ol Edinbur hPro romme Read School'5 inclusive and in-house DolE progromme conlinues lo empower students through chollenge. leomwork, ond personal growth. Bronze Level.. 26 Year 9 pupils completed expeditions in the Wolds and Nidderdole. demon51roling teomwork. resilience, ond leadership. Pupils supported one onother and even opplied first old skills during o real-lile scenario. Silvei Level." l ? porliciponls underlook expeditions in the Peok Dislricl and Yorkshire Doles. walking up lo seven hour5 daily and camping over multiple nights. Gold Level.. Seven Sixth Form Students completed demonding expeditions in the Doles. wolking eighl hovrs doily over four doys. Draxonian Dylan Clarkson received his Gold Aword at Buckinghom Poloce in June. Young Leaders- Amelio Dugmore. Emily Medlock. and Lucy Thomp50n were selected os DofE Young Leaders. taking on roles in menloiing. promotion. and kit monogemenl. The DofE programme al Read School continues to build essential allribules such os confidence. problem-solving. leomwork. and communicotion-mirroring the values ol our CCF programme. Sixth Form The Sixth Form ol Read School grew significantly in 2025-2026 continue offer o vibront. inclusive. and enriching environment lor students from diverse bockgrounds. Leadership and Mentoring.. Sixth Formers again ployed key roles ocro55 Ihe school. from running the weekly newsletter lo serving 05 Clossroom Support Assislonls and reoding buddie5. Prefects and House Coplains in Lower Sixth excelled in Iheir leoder5hip positions. Charity ond Community.. Students led Comic Relief initiatives including boke soles. red nose sales. a foolboll molch. and a themed ossembly. Evelyn Crompton raised oworeness for the L05t Chord Charity. Sociol Enrichment.. The bi-weekly Coffee Club become o much-loved trodition. offering o sensory and &ducotionol experience in gourmet coffee. Celebrating Sludenl Leoder5.' Ihe oulgoing Heod Girl ond Boy, made their valedictory speeches ol the July Commemorotion Doy and we celebroled the oppointment of new Heods of School. supported by Deputies. Read School Boordlng Communlty Boording remains a cherished port ol Reod School life. offering o nurturing. inclusive. and flexible environment for pupils aged 9 10 18. Globol Community.. Thi5 yeor's boorders hailed from the UK. Borbod05. China. Fronce. Germany. Hong Kong. Spoin. and Ukroine. including children ol Armed Force5 lomilies- reflecting our truly international ethos. Boording stall have creoled a worm and supportive olmosphere. with loilored everning ond weekend octivilies that foster friendship and wellbeing. This year's trips included visit5 lo York. Leed5. the east coast. Irompoline porks. Ninjo Worrior. oquo porks. ice skoling. climbing walls, and escope rooms-ensuring boarders enjoyed o rich ond varied experience.

Poge 13 Full. weekly, ond flexi boarding proved especially valuable lor families during exam periods and busy school weeks. On Commemorotion Doy, we proudly recognised our boording pupils lor their conduct. humour, and personol development throughout the yeor. Boording ol Read is more than 'B & &, accommodation wilhin school- it's o vibront community where personal development and independence ore developed and lifelong memories and friendships are made. Parents & Frlends Assoclotlon IPFA} The PFA wos ogoin been a cornerglone of community spirit and support at Read School, delivering a vibrant calendar ol events ond initiotives Ihroughoul the yeor. Events and Fundroisers.. The year began with bacon bullies and relreshmenls. followed by the Artison Foir. PFA bor. ond Dods, ol school events. The Winter Boll ol Ooks Goll Club w05 0 slondoul success, and the inougural hAay Bank Holiday Fun Doy broughl festive lun with stalls. pertormances. and bouncy castles. Pupil-Focused Supporl.. From welcoming Father Christmas al the Chrislmos Fayre lo hol chocolate mornings ond Easter Ireols, the PFA has enriched the school experience lor pupils across all ages. Inlrostruclure and Enrichment.. Mojor projects included o new occe5sible toilet ond o polylunnel to expond gordening opportunities. Additional Chromebooks, recorder5 lor LJS. and MFL Doy support. Ongoing Contributions.. The PFA provided rollle prizes. deparlmentol resources. ond enhoncemenls like boot scrappers lor the sports holl and a new CCF flag. Afternoon Teo lor VE Day added a special touch to commemorations. Grolilude ond Colloborolion.. Thonks lo Ihe tirele55 efforts ol committee members. parent helper5, and School staff. the PFA conlinues to thrive. Speciol thonk5 to Oliver Dukes (Chairl. Lisa Dukes ITreosurerl. and Rulh Medlock Icommunicationsl. among others. The PFA'5 dedicolion ond generosity mode a lasting impact in 2024125. ond we look forNoid to building on this success in the future. Facilities ond Estates 2024125 sow significant improvemenls across the Read School compus ond an inlensive Summer upgrode progromme. led by Mr Oliver Duke5 and Governors Mr Jim Dean and Mr Ryon Dempsey ensured optimum reodiness lor the new academic yeor. Refurbishment Projects.. 2024125 Upgrades included the Sports Hall chonging rooms. Junior School showers. Junior School chonging rooms. and bolhrooms.- recladding of the Mothemotics block.. newwindows in Romsker Humonitie5 block ond enhoncemenls lo the Bose. Boarding Improvemenls.. Vorious upgrades were mode throughout the boarding houses. improving comfort ond lunctionolity for our residentiol pupi15 and adding new bedroom furniture. Outdoor Development.. Continued work on the back sports field has lurtherenhanced our outdoor facilities. Newcalering progromme- o major initiolive lo bring colering bock in house was launched in Spring 2025 os said goodbye to Wilson Vale ond Ihonked them lor their live years of portnership. Looking Aheod- Plans are olready in motion lor further renovotions during the October half-lerm. ensuring our learning environment continues to evolve ond improve. We ore grotelul lo all involved lor their hord work ond commitment to moking Read School o sole. modern. and inspiring place lo learn.

Page 14 Gavdenlng Club (Read School Horticultural Society) The Gordening Club ot Reod School flourished this yeor. cullivating not just plants bul a deeper sense ol environmental responsibility ond teamwork among pupils. Polytunnel Project.. Thonks lo support from the PFA. the club successfully lounched o new polytunnel. dromolically expanding growing copacity and enobling yeor-round plontirng and learning. Sustainobilify in Action.. Pupils embraced eco-conscious proctice5, including recycling initiotives and composting, while learning oboul seosonol planting and biodiversity. Cr055-Cufficulor lrnpocl.. The club collaboroled with deportments such as Science and Food Preporolion & Nutrition. linking gordening lo nutrition. biology, and su51oinobility. Community Engagement.. Produce grown by the club was shored with the school kitchen and locol communily. reinforcing the volue ol form-t(Ftoble awarenèss. Student Leadership. Older pupils mentored younger members, loslering leodership and collaboration while mainloining gorden beds and planning seosonal rololions. Wellbeing ond Enrichment.. Goidening sessions provided o colming. hands-on outlet lor creativity and mindfulness, contributing to pupils, overoll wellbeing. Extra-currlcvlar Enrichment Progromme A vitol part of o Read School educalion. the enrichrment programme continued lo offer pupils o wide-ranging and inclusive arroy ol opportunities beyond the c1055ioom. From oller school academic clubs and creative workshops lo sports. leadership roles. ond outdoor odventures. Read pupils ol oll oges were ogoin encouraged lo explore new interests ond develop valuable The colendor ol enrichment oclivilies on offer is refreshed lermly ond continues lo prOV￿de an invaluable opportunity to pursue octivities ol personal interest. 2024125 highlighls included.. STEM and Creative Clubs.. CREST Club. Gardening Club. Arl & Design workshops, Chess Club. ond DT chollenge5 fostered innovotion ond colloborotion. Leodership and Service.. Sixth Form mentoring, CCF. and Duke of Edinburgh Aword programme5. School Council ond volunteering built confidence. resilience, and teamwork. Cultural ond Global Engagement.. Trips lo Morbella. New York. Sorrenlo, Normondy ond Gerrnony. broadened pupils, horizons. A German Club is offéred to both Juniorand Senior pupils. Community and Chorily.. Pupils led lundroising events. supported locol causes, ond porticipaled in iniliotives thol slrengthened school spirit and sociol responsibi5ily. Over £3,000 by Reod School pupils ond slafl was roised in support ol locol and notional charities. The enrichment progromme remoins o vilol port ol Reod School life. helping pupils grow into well-rounded, curious, and compassionote individuols. In Svmmary In 2024125 Read School continued to thrive through adversity. driven by o shared vision of excellence, inclusivity, and communify and the hord work of ils talented teoching and support 51all. With strong acodemic outcomes, vibrant enrichment opportunities, and o uniled team ol stoll. governors. parents. and Droxonions. we look Ionwvord to onolher year ol growth ond achievement.

Poge 15 STRATEGIC REPORT Risk Review The Boord ol Governors is responsible for the monogemenl ol the risks laced by the School. Detoiled examinolion ol risks surrounding Ihe principol oreos of the School's operations, ond considerolion ol the mojor risks that moy arise in eoch ol these oreos 15 undertaken by the VQflOUS 5ub-commillees and by the Full Board whenever signilicanl decisions are lo be mode. The principal risks and uncertainties lacing the School are considered to be.. Dilliculty in recruiting ond reloining pupi15 os lees increose to reflect the imposition ol V A T on school lees. Ihe removol ol rates relief allorded lo choriloble privole schools. the increose in employers, nalional insurance contributions and high inflation. the possible impocl on numbers due to competition from other independent schools ond stote slxth form colleges., the increasing competition for high-quolily stall, especially in the curriculum ore05 01 maths ond Science. ond the effec15 this con hove on the level ol remuneration and on succession planning.. the risk lo reputolional damage in the unlikely event of high-prolile legal aclion alleging lock ol due core ol pupils os vulnerable beneficiories. In the opinion ol the Govemors. the School hos estoblished effective internal and external controls, procedures and review systems ond elfeclive soleguording procedures and training which. under nomol conditions. should allow the risks idenlilied lo be miligoled lo on occeptoble level in its doy-to-day operotions. The Senior Leoderghip Team have the necessory depth ofknowledge ond experience and ore well placed to be oble lo review. plan and react to risk5 and uncertoirnties. The School seeks and acts on odvice from quolilied exlernol consullon15 in the oreo5 01 Heollh ond Sofely. Fire Risk Assessment and Insuronce. FINANCIAL REVIEW AND RESULTS FOR THE YEAR The results show on overoll decrease in the level ol fun¢J5 01 £175.26612024- deficit of £28.3571. 11 will be unsurprising lo nole Ihol the 2024125 acodemic yeor was notobly oflecled by prominent linoncial chollenges lor independent schools, including the mid-yeor implementolion ol VAT on lees. on unforeseen rise in employer National Insurance conlribulions, the removol of chorilable relief on locol outhoiify rotes. and elevated inllolion. These shock loclors ore reflected in these linonciol results, which coplure both the initial impocl ol these pressvres ond our ongoing ellorls lo miligole them. lor example. by reducing lees to ollset inllotion ond the new V A T chorges. These shocks in oddilion lo other non-cosh accounlirng odjuslmenls unforlunolely do not clearly rellecl the School's underlying operotionol performonce. The unrestricted ILJnd occounling delicil lalfer tron5fers bebNeen lundsl ol £175.536 12024 delicil of £47.6361 15 in line wilh budget expectations. During the 2024125 ocodemic yeor. the School and Board have diligently implemenled strategic iniliolives to ensure coshllow stability ond reinforce our linonciol foundation lor future years in the newly defined climole. These effor15 hove encompassed enhonced lee collection processes. slrenglhened cost controls. and lorgeted revenue-generoling slrolegies, oll ol which have begun lo demonstrote positive results in the current academic period.

Page 16 The 8oard is dedicated lo mointoining Iransporenl communicotion with parents ond slokeholders. We wish lo ossure our community that the school, s financial stolus is under close review. ond the leodership team is consistently priorilising long-lerm suslainabilily and growth. Nolwithstonding the reduction in the unrestricted fund which represents the trading oclivities ol the School. the financial resulls have been prepored on a going concern ba515. In previou5 years. this basis was adapted because ol the open-ended loon support provided by o mojor beneloclor formolised in 2019 and relinonced in Oclober 2022 through the generous sUpp￿t ol another benelaclor. No interest 15 poyoble on the loon throughout its term. Other benefactors hove 0150 offered and provided support os required. The Board of Governors regulorly reviews the level and nolure of the reserve funds ol the School. They aim lo have free ieserves omounling lo the overoge level ol one term's lees. However. given the need to inves1 in the School's inlraslruclure and refurbish or renew vitol services and lacililies. this level ol reserves is expected lo be achieved groduolly ovei o number of yeor5. os described below. Notwithstanding the reduction in the unrestricted fund which represents Ihe trading oclivilies ol the School. the linonciol results hove been prepored on a going concern basis. In previous years, thi5 basis was adopted because ol the open-ended loan support provided by a major benelaclor lormolised in 2019 ond refinanced in October 2022 Ihrough the generous suppcyt ol onother beneloclor. No inleresl is poyoble on the loan throughout ils term. Following measures implemented overthe past yearwe remoin on covr5e lo reduce debt and fulfil our obligotions. Fuluie Plons Whilst the Governors and Senior Leoder5hip Team ol the School look bock over the yeor confident that they achieved what was possible in the dillicult linonciol climate. they understond thol slricl budgetary managemenl wll continue to be necessary whilst pupil number5 ore being rebuilt. Recruilmenl and odmi55ion5 remain a lop priority lor the School. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Docvment The Scheme lorgoverning the charily wo5 opproved ond published by the Chority Commission on 17 August 2010 undei the power ol the Charities Act 2011. The Read School. Drox, Trustee Limited (registered company 072368841. o compony limited by guarantee. was incorporated on 27 April 201 O and was appointed os the Iruslee ol the School on I September 2010. The School wos originally formed in 1667 by Charle5 Reode. The Read School is a Registered Chority. Number 529675. The main premises ond oddress of The Reod School is Moin Rood. Drox. Selby. North Yorkshire, Y08 8NL. Governlng Body The Board ol Governors comprises Governors who serve lor a term ol three years and who moy be re-oppoinled lor two lurlher terms of three yeors. Governors ore oppoinled by the Boord ol Governors b05ed on personal competencies ond speciolisl skills. Al the end ol his or her third term in ollice ond in subsequent yeois. o Governor moy be re-appointed lor o further period ol one yeor bul only if there (Jre exceptional circumslonces arnd piovided they ore invited lo do so by the Choir ol Governors.

Page17 The Drax Parish Council moy also appoint a Represenlolive Governor under Article 46 01 the Articles ol Associalion. The oclivity ol the Governing Body is carried out through meetings ol the Full Board. In order to ensure thol the increasingly complex molters relating lo legislolion. regulation and compliance are correctly addressed ond to ensure the ellicienl running ol the School. the Boord is split into a number of sub-commillees which moy include 'ex-oflicio' member5. 05 oppropriote.. Finance and Audit Premises. Health ond Solely People. Legal ond Dola Compliance Safeguording and Governance Moikeling. Communicolion5 & Reod School Foundolion Educolion, Teaching and Leorning The Head and Bursar ollends the Full Board and Committee meetings. Trvstee Training All Governors are Directors ol The Read School, Drax. Trustee Limiled Iregislered compony 072368841. which 15 0 Corporole Trustee ond the 501e Trustee. New Governors ore inducled into the Governing Body by the Chair ol Governors. In-house training is ongoing and exteinol training is underloken as oppropriote. The School is o member ol AGBIS and training ond support are provided Ihrough this 0550ciation. Orgoni$ational Monagement The Full Boord of Governors meets four limes per yeor. All Committees report and make recommendolions lo the Full Boord. The Finance and Audit Committee rneel al least four limes o year ond examines proposed budget5. linornciol outcomes. including the onnval oudited occounts lor the Chorily. ond other finonciol plonning doto prior lo considerolion and opprovol by the Full Board ol Governors. They also consider the strolegic development ol the School. This commillee wll meet more regulorly os is required. The Premises. Heollh and Solely. People. Legol and Dolo Compliance. Soleguording and Governonce. Morketing, Communicotions and Read School Foundalion and Educotion, Teaching and Learning Commillees ol the Governing Body meet al leosl four limes per yeor to consider relevant mollers. From time lo lime. these Commillees may meet more regulorly, os circum5tonces demond. Senior monogemenl meet with represenlalives ol the Parenls. ond Friends Association on a regular bosis. The doy to day running ol the School is delegated to Ihe Head supported by the Bursar ond other monogement personnel. The Heod ond Bursor ollend the meetings ol the various commillees along with the Deputy Heod ond other relevont staff members as oppropriote. The remunerolion ol key monagemenl personnel 15 set by the Boord with the policy objective ol rewording them fairly ond responsibly lor their individual contributions lo the School.

Poge 18 Grovp Slructuie and Relationship5 The Chorily hos o wholly owned non-charitable subsidiory. The Read School Enterprises Limited. company regislralion number 03567217. incorporated 18 Moy 1998. whose registered office oddre55 is The Read School. Drax. Selby. North Yoikshire. Y08 8NL. The non-poid direclors ol The Reod School Enterprises Limiled. who served during the yeor. ore oll directors ol The Read School. Drox. Trustee Limited during the yeor. namely.. Mr B Watt (Choir of Governors) Mr D Prilchard (Vice Chair of Governors) Dr R White Mr C Sunley Mr G Compbell (Choir. Finance ond Audit Committee ond Vice Choir ol Governors from Augu5120251 Mrs T Butler (Choir, Morketing. Communicotions and Reod School Foundotion Commilleel Mrs K O'Horo (Choir. Sofeguarding and Govemonce Commilleel Mrs L M Dukes Ichoir of Governors. from AugLJsI 20251 Ms J Breach Mr J Ingli5 Mr B Bugg (Chair, Educotion. Teaching ond Learning Committee) Mr J Deon Mr R Dempsey Mr J Gosney Dr R Medlock The Read School Enterprises Limited was sel up lo manage the leltings of the School premises during holidoy periods ond the hiring ol locilitie5 to locol groups, both cullurol ond sporting and all profits ore donaled lo The Read School Iregislered chority number 5296751. STATEMENT OF GOVERNORS. RESPONSIBILITIES The Governors. as Directors ol the Corporate Trustee. are responsible lor the preporalion of onnual linoncial statements. in accordonce with opplicable low and United Kingdom Accepted Accounting Proctice (United Kingdom Accounting Slondardsl. The low opplicable lo chorilies in Englond ond Woles requires Governor5 to prepore linonciol slolemenls lor each linoncial yeor which give o true ond loir view of the stole of ofloir5 of the chorily and of the incoming resources and opplicalion ol resources lor Ihol period. In preparing these linoncial slotements they- select the most suiloble occounting policies and apply them cansistently.. observe Ihe methods ond principles set out in the Chorities SORP.. moke judgements and eslimales thol ore reasonoble and prudent,. state whether opplicoble accounting stondards have been followed. subject lo ony moteriol departures disclosed ond exploined in Ihe linoncial statements.. prepare the financial stolement5 on the going concern bosis unless It is inappropriate lo ossume thol the Charity will continue irn business. The Governors are responsible lor keeping odequale accounting records that ore sufficient lo show ond exploin the charity's transact￿0￿5. disclose wilh reasonoble occuracy al orny lime the linanciol position ol the charity and enable them to ensure that the linanciaS slalemenls

Page 19 comply with the Chorities Act 2011, the Chorities (Accounts ond Reports) Regulolions 2015 ond the provisions ol the charity's constilulion. They ore olso responsible for sofeguording the assels ol the chorily and ensuring their proper application under chorily law ond hence lor toking reasonoble Steps lor Ihe prevention ond delection ol Iroud ond other irregulorities. In so lor os the Governors ale oware.. There is no relevant oudil information ol which the chority's auditor is unowore. The Governors hove token oll steps thot they ovght to hove token to make thèmselves owore ol ony relevant oudil information and lo establish that the oudilor is owore ol thot inlormotion. Thi5 report was opproved by the Board ol Governors on 30.kn.2c on beholl ol the Boord by.. ond Signed Liso Duke5 Chair ol the Board

Poge 3) INDEPENDENT AUDITOR'S REPORT TO IHE TRUSTEE OF THE READ SCHOOL DRAX 37 AUGUST 2025 inion on lin¢¥ncithl 51alementS We hove oudiled the finonciol slotemenls ol The Reod School Drox Ithe 'ChoTrly'l for Ihe yeor en¢Jed 31 Augvsl 2025. which CCyn￿se th= Statement ol Finonciol Aclivilie5. the Bolonce Sheet. Ihe Co5h Flow Stolement ond notes lo the linonciol sialemen15. incivcjing 5ignilicont atCOuYling POlicJtr5. The Financial reporting tramework Ihol hos been opplietJ in IheiT preparoiion is opplicable low and United Kingdom A¢counting Standard5 Including Finonciol Reporting Stondord FRSIQ? 'The Finonciol Reporting Slondard trpplicoble in the UK and Republic ol IrÈland' (United Kingdom Generally Accepled Accounting Proclic&l. In our opinion the linonciol 5tulemenls'. give O true ond loif vi&w of th stale of Ihe Chorify's offoits as ot 31 August 2D25 on(J ol it5 incoming fe50ur¢e5 Und opplicolion ol restsurces Ic Ihe yeor then ended". hove been properly wepore¢ in occorclonce wilh United Kinguom Generolly Accepted Accovnling Proclice.. on have been prepored In oceordance with reqviremenls of the Chorilies Act ￿1 I. 13515 lor o We concluclea our oudit in occordonce wilh Inlernolionol 51ondords on Auailing IUKI IISAS IUKII and opplicable low. Our re5ponsibililie5 under Ihose stondords ore further described in the Avcliliy's responsibilities ftr Ihe audil ol the finonciol slalemen15 seclion ol ovr report. We ore indepen¢Jenl ol Ihe Chorily in accordonce with Ihe elhicol requirements Ihol ore relevant Ic> ovr oudil ol the finonciol 51olemenls in the UK. inclu¢ing the FRC's Elhicol Slondord. on¢J we hove Ivllilled our other elhicol respon51bilitie5 in occorcfonce wilh these requiiemenls We believe thot Ihe oudil evidence we hove obloined is suflicienl approwioiè lo ¥ovide a basis for our opinion. Concluslons relalln lo oln rn In oudiling the finoncial slatements. we hove concluded Ihal the trustee's use ol the going concern basis of occounling in Ihe reportstion ol the finoneiol %lotement5 15 opproriale. Bosed on th work wè htrvt parformed. hove not idenlili8d any mc11r￿1 uncertointie5 reloting to events or condition5 Ihat. individuolly or collectively. moy c051 0 signilitanl doubl on ihe chorily'5 obilily lo eonlinue 05 a going concern ICK a period of ol least twelve months trorn when Ihe linonciol slolemenls ore aulhtyised lor ssue. re5ponsibilitie5 ond the resPOn5ibililie5 of the IIu51ÈÈ with fÈ5pecl Its going concern ore described in the relevonl Sections of Ihis report. other Inlormotlon The other information compri5e5 the informot￿n inclvaed in the onnuol report. including the ITUStee'5 rewrt. oth¥ thon the financial slalÈrnen15 and our audil0rf5 repofl Ihereon. The tru51ee 15 responsible lor Ihe other information conlained within the onnuol repul. Our opinion on the Financial 51olem8nls do*% nol cover the oihÈr information and. except to Ihe extent olhefvrfist explicimy 51ated in our repNt. we do not express ony form ol ossuronce conelu5ion Ihereon Our responsibility is lo reod Ihe other inltrmolion ond. in do￿n9 so. consider whether the olhÈr inltrmolion is maleriolly incon5i51enl With Ihe Iinonciol slolemenls or our knowledge obloinett in Ihe covrse of the oudil LY olhemise app8ors lo be moleriolly misstroled. 11 we iaenlify such moteriol inconsistencies LY opporenl moleriol mi551olemenls. we ore required lo determine whether Ihi5 give5 rise lo o moleriol miS51olemenl in the linanciol slolemenls themselves. 11. bos&J on Ihe wcrfk we have performe¢. we conclude Ihol there is o moleriol mi551oternenl of this olher inloTmolun. we ore reouired lo repcwt Ihol lacl w& hov& nothing lo rtwrt in this regtsrd.

Poge 21 INDEPENDeNI AUDITOR'S REPORT 10 TPtt IRUSTEE OF THE READ SCHOOL DRAX 31 AUGUST 2025 tlers on which we In the light ol Ihe knowledge onct un4e151on¢ing c>1 IhÈ Chorily ond ils environmenl obloined in the covr5È 01 khe ov¢il. we have ntrl Idenlilied moleriol misslotemenls in the ItV5tees report. We hove nothing lo réport in rÈ%pecl ol th8 following molle15 in ¢lalion lo which the Choriliss (Accoun15 ond Réporlsl egv50lion5 2008 r-ouire tro report lo yov il. in our opinion.. the infotmcslion given in the trvslees rep(yt 15 inconsisleni in tsny moleriol respect with the linuncial stalernen15,' or sufficient accounting records hove nol been kept.. or the linonciol 51aternÈnt5 not in 0greaff￿nl with the occounting records ond retums.. or we hove not receivecj oll the inlom)olion ond explonotws we require Ic our audll. Res onsibl1￿leS of the Irustte As explained niorÈ lully In the Iruslee's responsibilities 51(Jternent $81 ovl on poge I l. the IwsteÈ 15 responsible f(Y the preparation ol the finoncol slolemenls ond ICK being 5ati51ied khal Ihey give o Iwe onLI foir view. ond lor such Inlemol conirol as Ihe trustee determines is nece550fy lo enoble the ￿e￿or￿li0n ol linonciol 51olemen15 that ore tree From moleriol rn1551tslemenl. whelherdue lo Irovcl or ￿r0￿. In preporing the finonciol stolemenls. the Irv51ee is ￿5￿nSIble for as58ssing the Chority's obilily to continu8 os o going concern. disclosing. 05 opplicoble. matters reloled to going concern ond vsing the gcyng concern bts515 01 occounling unle55 the Iru51ee eilher inlenc15 10 liquidolÈ the Chtsrily or lo ceos& operolions. or no realistic allernolivt bul lo do 50. AUd￿or$ ie8 Ilttl f r Ihe audtt ot Ihe Ilnanclcl 51alements We hove been oppointed 05 auditor under SÈciion 144 01 ihe Chorilies Act 2011 and reporf in ocetydonce with the Act and relevonl regulotiQn5 mocJÈ ￿ having èffècl Ihereon. objectives ore lo obloin reosonoble g55vronce oboul whet￿r the linonciol 51olement5 Os o whokg orè free From molwiol r171551tslemenl. wttelher Llve lo or e￿or. (Jnd ID i55ue an oudior's report Ihot includes ovr opinion. RÈ050nobl& ossuronce 15 a high level of 0$5uronce. bul is a guaronieè Ihal on ovdil conducted in occordance wilh ISA5 IUKI will alwoys delecl o mi55lotemenl when it exist5. mi551otemenls can alise trom fraud u erru and ore coisidered rnalerial if. in¢JivicJutrlly c¢ in Ihe oggvegole. they eoulcj re005noblv be expected to Inlluencè th$ eeonornic decisions of vser5 tokèn on the i￿S1$ of these linonciol stotementi. Itreguiarities. incluOin9 troud. ore inslonces ol non-complianee with bws ond regvlolion5. We design procecJure5 in line wilh our respon51bilities. outlined obove. lo aelect moteriol mi55tolèmenls In respcl ol irregu￿f01IES. in¢luding frtsucl. The exlenl lo which procedures ore copoble ol delecling irregulorialie5. including Irovd. is Oeloiled bel<)w'. Our opwooch lo identifying ond ts55è5sing the risks ol molewl misslolement in respect of irr8gvlc¥i118s. inclvding ond non- complionce with ￿w$ ond regulolions. was os lollow5'. The eD¥ogemenl Poflner ensured Ihol the engogemenl teom collectively hod the opproriole comp8tence. copobililuies on¢J skills to Identity (K recognise non-eomplionce with opplicoble lows ond regulations. We ioeniifieJ the law% tsnd regulalons opplicoble lo the charity through cjiscvssions wilh governo￿ and other monogemenl. and From our eommerciol knowledge experience of the privole ￿￿001 seclor. We tocused on soecific lows ond regulotions which we Consider moy hove o ¢irecl moleri¢Jl elfecl on the fimncol stalemÈnls or Ihe operolions ol the chorify. inclvdinu Chorilies Act 2011. heolth on¢ safèty legislolion. hygiene standords. employment lows. onli-bribery iQW5. cjolo prolecliorn. en¥ironmenlal regulation. relevonl loA lows ond complionce with the Independent Schoo15 In5pecitrols r&gulalions ond fundroising reguitslions. We ts55è1sd the &xlenl of complionce wilh Ihe Icy4W5 oncl reguiolions identified obove through Tnoking nquirie5 of onagem8nl. Inspschng legol corre5ponctence reocjing th minvle5 01 meetings of Ihose choiged with governance.. ond Identified laws ond regulolions were commvnicole¢ within Ihe ttvdil leam r&guknrly ond the learn refflained olert lo inston¢È5 01 non-complionce throughout the audit.

Poge 22 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF THE READ SCHOOL DRAX 31 AUGUSI 2025 We 055essed the su5ceplibilily ol the chorilv's finonciol stolemen15 lo mtjlerul mi551olemenl. including obloining an vnderslonding ol how Froud might occw. by.. Moking enquirie5 01 monogemenl 05 to wh¥e Ihev con5iderÈd there wo5 5U5eeptibility to Froud. IhÈir knOw￿dge ol oclvol. suspécted ond ttlleged fraud.. and Considering the inlernol controls in ploce lo miligole risks ol fravd and non<ompliance with law5 and regulotion5. lo attdre35 the risk of troud Ihrough mantsgeinenl bitt5 oncj override ol conlrols. we.. Ptrtumed ontslyticol procedure5 to indenlify any vnusvtsl u unexepecleLI relolionship5'. Tèsted joumtsl entri&% lo indènlify unu%uol Iron50elions'. AS5É$1ecJ whethér judgÈm&nls ond ossvmplion mode in determinin9 the occounling eslirnoles Sel out in note I were indicolive ol wt8ntlQl bias., ond Inve51igote the rtslionale behind 51gnifvconi or vnu5ual Iransclions. In response to th& risk ot irr8gulori11è5 ond non<omplionc with lows and r8gulotions. we designed procedures which included. but w￿e not limit8d lo.. Agreeing linonciol 51alemenl disclosvres lo unc1￿Y1ng 5UPPOrting documenlalion.. Reodiftg khe minutes ol meetings ol those chorgecl with govemonce.. Enquiring ol rnanogefflenl (Js lo oclvol ona polenlial liligalion ond cloim5-. and Reviewing C￿reSpondenCe with HMRC. relevont regulalor5 IindepÈndenl St￿01% In5P8clortrl81 ond the chorify'5 ￿goI advisors. There orè inhérÈnl limiloliNs in ou< oudil procedures os described obove. The mor? removed Ihol Iow5 ond re9ulotion5 ore trom finoneiai tron50clitrns. the less likèly il 15 Ihol we wovld oecome owore ol non-complionce. Auditing 51ondords 0150 limit the audit tyocèdure5 reouirtsd lo idènlily non-complionce ¥vilh lows onLI regvloli￿s lo enquiry ol the govem(Ks other mano9emenl ond th8 Inspeclion of régvlotory and leg01 correspondence. il ony. oteriol mi951oternents Ih(Jl 0ri5e lo con be horder lo cjelecl thon IhOS8 Ihat Qflse from &rru as Ihey moy inyolce cleliberole conceolment ￿ collv5ion. A lurthw description of our resonsibilifries l¢y the oudil of the finonciol stolements 15 locoted on the Finonciol Reporting Council's websile ol.. wWW.Frc.ug.ukloudiloweponsibililies. This description Forms port of our 0udit￿.5 rep￿1. Henlon & Co LLP is Èligible for appoinlrnenl as ovcjilor ol Ihe chorlty by virtue of 115 eligibility ICK oppointment os ou¢ilor of ts comwny under sechon 1212 01 Ihe Componies Act 2W6. our Fe This report 15 mode solely lo the charity5 Irvsfree. 05 0 bocly. in occor¢once with Section 144 01 the Chorilies ACI 2011 end thè regvlolions made viKler section 154 01 Ihol Act. Our ovclil work h(Js been undertaken 50 that we might 5tolÈ lo the Irvslee those mollers we are requiied 10 stole lo Ihem in an audiloi's report ond lor no olher pvipose. To Ihe lullesl èxlenl pwmilled by low. we ¢0 not occeptr or assurne responsibility to anyone Olher thon th choriky's truste* os o body, lor ovr ovcjil work. lor this report. (x for the opinions we hove IoTmed. For ond on beholl ol Henton & Co LLP Chortered A¢¢¢wnlont5 & Stolulory Auditgr 124 Atomb Roocj Yotk Y024 4EY 30 June 2026

Pa9e 23 THE READ SCHOOL. DRAX STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025 Unreslrlcted Re5tiicted Fund5 Funds Endowed Funds Noles 2025 INCOME FROM.. Donolions Income from Charltable Activitie5 School lee5 receivable Other oncillory trading income Insuronce claims nveslmenl income Gronts receivoble 32.451 36.421 68.8n 3.829,194 178.981 3.829,19 178.981 5.001 5.001 11.800 11.800 Total Intome 4.045.627 48.221 4.093.848 EXPENDITURE ON.. Charltable octlvltl8S School operating c0515 Costs ol generolsng fund5 School financing costs 4.252.540 4.252.540 16,559 16,559 Totol expendltrure 4.269.099 4.269.099 Net incomtr / lexpendlturel {223.4721 48.221 1175.2511 Tionslers between Ivnds 22 47.936 158.2051 10,269 other re¢o9nised 90ins / {losses) Goins I110sses1 on inveslmenls Goins I Ilossesl on fevoluotion ol fixed 055èt5 NET MOVEMENI IN FUNDS 1175.5361 {io.0001 10.269 1175.2661 RECONCILIATION OF FUNDS Fund balance5 al I September 2024 10.000 3.388.691 1.380.590 FUND BALANCES AT 31 AUGUST 2025 12,193,637) 3.398.960 1.205.324

Poge 24 THE READ SCHOOL. DRAX STATEMENT OF FINANCIAI ACTIVITIES FOR THE YEAR ENDeD 31 AUGUST 2024 nrestilcted Restrfcted Funds Funds Endowed Funds Notes 2024 INCOME FROM: Oonolion5 Income from Choritoble Actlvltles School lees receivoble other ancillory troding income In5uraneè Cloim Investment income Gran15 receivable 74.047 47.333 121.380 3,461,883 154,745 30,IKK) 3.3T5 3.467.883 154.745 30.000 3,375 Tolol In¢ome 3.730.050 47.333 3.777.383 EXPENDITURE ON.. Charwoble uctlvltles School operolirng costs Cost5 of gen¢rolln9 funds School finoncing costs 3.793.503 3.793.503 12.256 12,256 Total expendtture 3,80S,759 3.805.759 Nel Income I lexpenditure) 175,7091 47,333 128.3761 Tronsfer5 befv/een funds 22 28.073 137.6021 9.529 othei recognlsed galn5 111055e51 Goins I Ilossesl on investments Goin5 11105se51 on revoluotion ol fixed Ossets 19 NEI MOVfMENT IN FUNDS 147.6361 9,750 9.529 {28.3571 RECONCILIATION OF FUNDS Fund bolonces ol I September 2023 11.970.465) 250 3.379.162 1.408.947 FUND BALANCES AT 31 AUGV5T 2024 12,018.101} io.000 3.388,691 1.380,590

Poge 25 THE READ 5¢HOOL. DRAX BALANCE SHEET AS AT 31 AUGUST 2025 Not•s 2Q25 2024 FIXED ASSErs Tongibie fixnd a55e15 Inve51ments 3.600.426 450 3,6ffl.0 465 3.601.076 3,6QK).548 CURRENI ASSETS Slo- DÉblO Bank and co5h bolonces 13.683 1.002.996 256.728 11.382 941.032 249.￿3 1.273.407 1.201.867 CREDIIOR&' dve within one y8ar 2.270.024 2,16D.245 NET CURRENT ASSEISIILIABILITIESI 1996.6171 1958.3781 IOTAL ASSETS LESS CURRENT LIABILITIE5 2.604.159 2,642.170 CREDITORS= du¢ ofler rnore than on¢ year 11.297.324) PROVISIONS Pension scheme délicil 20 IOTAL NE7 ASSETS 1.205.324 1.380.590 Endowed funds Reslriclsd fvnds Unreslricled funds 3.398.960 3.388.691 10.c 12,193.&371 TOIAL FUNDS 7.205.323 l.Sg0.590 These finonciol 5loternent5 were opprove4 by the Boor¢J of Govemw on￿.¢£.¥. ond were 5uned on its beholf by L M Duke5 Th* nolÈs on poo8$ 26 10 41 form wrt ot IhÈ59 occovnts.

Pts9e 20 IHE RÉAD SCHOOL. tsRAX CASHFLOW STATEMENT FOR THE YEAR ENDEO 31 AUGUST2025 2024 2024 CASH FLOWS FROM OPERATING AciivmES-. EI CASH PROVIDED ay ilU5ED INI OPERATING ACTIVITIES 113.1 CASHFLOWS FROM INVESTING Acnvffies |Dveslmenl 1ncome [eCer￿ed 3.375 iioi.To41 ioo Pi¢¢et45 Oh 501¢ 01 ihveslmenti Not ¢ush W¢Yla•d by I Ivséd 5nl Inv￿Ing 190.1031 CA5HFIOWS FROhl FINANCING ACTICITIES 1250 7051 Nèt cash wtsvld•d by I (used Inl financlng acllvHI#s CAANGE IN CASH AND CASH EQUIVAIENTS IN THE REPORTING PERK)D 7.274 66.480 RECONCILIATIOf4 OF NETCA5h FLOW ro MOVEMENT IN NET FUNDS 249.453 7.274 Chon9é in cash ond cosh éqUiwal8Thls In thé 18porting period 06.4eo Cashand cash equviol￿tS al 8nd oly￿1 156.727 ?&9.453 NOTEsfo ThE CASM FLOW $1ATEMENT R•concllkilbnol n•tlncorn•/ l•xp•ndTrur•l lo n•tcath nowlrom opetallng acttvNI•J I 1èxpèhd￿UrèI lorth•r•p￿1n9 P•rtod las p•r In¥￿I￿e￿I IncGme 15.(N)11 Iiw} 57 Unreolit¢J1g(Inlllass on inv&stmonts Depre¢itsliOrt rh<#g¢ 61.449 12.3011 00.gFO Increa5elldecre05el In creditots 59.970 2eT.535 Nel ¢oh sY¢vlded ty I Ihl Analys1¥ ot cash and cash •qui¥alents Cost al borth ano Fn hgnd 5&.728 249 453 25$.728 249 4S3 Antslysls dthqty•5 In rteTrd¢bl AJql 31.08.2024 New financ• L•as•s Othw cash chang•s A> 31.08.202S Cashfiows Cosh Loons laiikng dve one Year loon5 fallino due aflef moTe t￿n one yeiji Fin¢Jnte ob￿g￿li￿nI 49.4 1?27.65I 11.051.037 7.275 48 172 162.6941 21.583 256.728 16291 13A401 138.9701 11 098.wl {1.082.3341

Poge 27 THE READ SCHOOL. ORAX NOTES 10 THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025 GENERAL INFORMATION The enlily is o RÈgislered Chorily in Enolond ond Woles. The oddress of th& fqS151ered offic8 is The Reod School. Drax, S&lby. North Yoikshire, Y08 8NL. ACCOUNTING POLICIES The principol occounling policies odopled. judg&menls ond key sources of &5timolion uncertainly in the prerx)roliDn ol the financial slolemen15 ¢Jre os follows.. 6a515 ol preporotion Th& linonciol slolem&nfrs have been prepored in acc¢xdance with Ihe Slalement of R￿0MMended Practice.. Accounting an(J Reporling by Chorilie5 preporing their occovrnls in occordonce with the Finonciol Reporting Slondord opplicoble in Ihe UK ond Rèpublic of Ir&lond IFR5 1021 elleclive i Jonuory 2019 ond the Finonciol Repuling Standard applicoble in the United Kingdom ond Republic ol IiÈlond IFRS 1021 ond the Chorilies Act 2011 and UK Generally Accepled Proclice a5 11 applied from l Januory 2015. Tre finonciol 5totemen15 hove oleported trom Ihtr Chofilies IAccovnls ond Reports) Regvlotions 2(M)8 only lo the exlenl r&quired lo provide o true ond lair view. This d&porlure hos involved following the Slolemenl ol Recommencjed Proclice lor chorilies opplying FRS 102 rother thon the version of the Stolemenl ol Recommend8(J Practice which 15 relerted lo in the Regulotions bul which ttos since been wilhdrown. The Chority meets Ihe cjelinilion ol public benefit &r)lily under FRS 502. A55et5 ond liobililies ore lnilial￿ recorded ol historical cost or Iron5ciclion volue unless olhepNi5e sloled in the relevanl accovnting policy note5. The financial slalemenls or8 pr8pared in 518rling. which 15 Ihe lunclional currtrncy of the trntily. The fislowing occounling policiès hove t)een oppliod ¢onsislently in deoling with items which ar& considered moleriol in relation lo the School's linonciol stolemenls. Golng concerTr The linonciol slolemenls hove been prepored on the going concem basis. nofviithslonding the net current liobililies w51tion on 31 August 2025. The Charity's unreslrictecl fund5 were in deficit by £2.193.637 on 31 AugU512025. Tre Governors nevertheless consider il oppropriote lo continue lo adopl the going concern bosi5 in preparing the financiol slolements because of the ongoirF9 finonciol supptyt ol o mojor beDeloctor. In o previous yeor Ihe IrusleÉ repotted Ihol o beneloclor had mode avai5able loan 5UPPOrt of £1.225.417 lo support ccjshllows during Ihal year. Thi5 SUPPOrt wos tormolised during o previou5 yeor. The loon lacilily amounts lo £1.5 million l£1.219.981 0131 Augu51 20251 with lovourobl¢ repoym&nt term5. over o five-yeow period storting in September 2021. No interest Is poyoble on the loan throughoul this term. On 28 Octobèr 2022. thi5 loon wos refintsnctrd with o new lender. The loon bolonc& oulslanding reffloins the same. bvl the leTm5 of the loon hove beèn changed lo include Èven more lovourable repoymenl terms, over o live year period stcjrling in January 2024 with no iDlere51 poyoble Ihroughoul the term. The new loc)n agreement also provides for the locl Ihol Ihe'linol in5tolmenl' ol £611.408.55 will only be payoble il ony port ol Ihe lond or building5 ole sold. or conlrocled lo be sold. before 30 September 2027. Durino the 2024125 ocodemic year. the School and Board hove diligently implemented strolegic iniliolives lo ensure ca5hllow 5tobilily ond reinlorce our finonciol loundotion lor Ivlvre yettrs in the newly delinect climote. These efforts hove trncornp055ed enhonced lee Collection rKocesses. slrenglhen&d cost controls. ond lorgeled r&vènu&-g&neraling slrolegies. oll ol which have begun lo demonslrole posilivè results in the currenl oco¢Jemic peflod.

Poge 28 THE READ SCHOOL. CRAX NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED 31 AUGUST 2025 Going Concern Icontinuedl R8C8ntly. the UK economy ha5 been imkxjcled by rising inflolion. inl8rest ral85 and eneTgy c05t5. exocerboled by Ihe wor in Ukroine. All Ihe5e motleTS hove impoclecl the chorify's Iroding results lo o greoter ot lesser exlenl. Al the dole ot signing these finonciol stottrments. the Gc>vemors have considered Ihe 8lfecl DI these mollers on Ihe chorily wilh IhÈ information tsvoiloble lo il an¢J a150 the impocl ol the new Labour Governments policies on VA T on private sch￿4 lees. removal ol choriloble iottt5 relief. etpiploytrr5 Nolionol In5vronce ond Nolionol Minimum Wage do nol believe thol it will ollecl Ihe obility of the chorily lo continue lo Irocle lor Ihe loreseeoble Ivlvre. Hoving considered the lun(Jing locililies availoble. including n&w support From benelaclors, to the School tO9elher with empected ongoing demond lor ploce5 oncl proj8cled cashllows, the goveTnor5 consider Ihol the school hos odeqvole re50vrces lo continue 115 oclivities lor the lorseeoble lulure. Accordingly. they continue lo odopl Ihe going concern bosis in prewring the linanciol slal8menl5. Fe85 ond Slmllor E(Jmed In¢om¢ Fee5 receivoble ond chorges fu seNices ond use ol premises ore occountecl lor the period in which the Service is provided. Fees receivable are 51oled aller de(Jucting ollowonce5. scholorships and oth* remissions gronled by Ihe Schotsl. F&es received lor education lo be FKovided in lulvre yÈars Ore Carried f￿￿ord as d&lerred incomÈ. Investment Income Inveslmenl income from dividend5. txjnk bolance5 and fixed inlere51 securities is occounled for on an accruo15 b0515. Donatlons. legacies. grunts ond other volvntory income Volunlory income is occovnled lor 05 ond when entilleTnenl orises. Ihe omounl con be rttliobly quontilied ond the economic benelit lo the scho￿ is considered probable. Donolions ieceivtrd for the generol PVfPQSes ol the chority ore inclvded os unre511iclÈd funds. Donolions reslricled by the wishes of th& donor or& taken lo 'Yeslricted Ivnds" wh￿8 these wishe5 ore legally binding on the Govemor5. Donatlons fequired to be retained a5 Copltol in accordance w￿trh the donofs wishes ￿e occounlecl for os endowment5" permanent or expenclable occording lo Ihe nulure of the re5trictK)n. Income from gronls, whelhei 'copitol' gront5 or 'revenue' gronls. ore recognised when the choTity hos enlillemenl lo Ivnds. ony perlormonce ¢tsndilion5 Otloched lo Ihe gron15 hove been mel. il is probable Ihol the income will be received tsncj Ihe omovnl con be meosuied reliably ond is nol deferred. Rents recelv(Jble Income from renls receivable is recogni5ed in accordonce with Ihe agreed trerm5 of Ihe relevant le05e ogieement. Expendtlvre Expenditure is recognised onc& there is a leool or cimstrruclive obligolion lo moke o paymefil lo a third purly, il is tyoboble Ihal selllemenl will be required and the amount of Ihe obligation con be me05ured reliobly. Expenditure include5 ony VAT which connot be ￿llY recovered. ond 15 reported 05 fK]rt of tho expendilure lo which il ielole5 All expendilure 15 o¢¢ounltrd lor on on occruols bosis under Ihe following heodings.. Expendilure on chorilcJt)le aclivilies inclLKJes trhe costs ol providing o doy snd boording school anol oth8r educ(stional activitie5 undertaken lo further the puiposes of the chLyity an(J their a550cioled support C0515. Finoncing costs is mode up ol inleresl chorges. hire purchose inlÈr&sl and Ihe unwnding ol the

Pogtr 29 IHE READ SCHOOL. DRAX NOTES TO IHe ACCOUNT5 Icontinuedl IOR THE YEAR ENDED 31 AUGUST 202S Expendltvre Icontlnuedl Support Costs cornpri5e those c0515 which are incutred directly in support ol expenditure on the object5 01 the chorily ond include goveinonce c051. linonce ond ollice cos15. Governonce costs ore Ihose costs incurred in connection with the complionce with conslitutionol ond slolvlcry requiremenls ol the charify. Slocks Stock5 of leoching moleriols. cleoning moleri015. fuel ond other consumables are rec(Yded cl c05t. Operotlng leo$e ogreernents Rento15 Qpplicable lo operoling leases wheie 5ubstonliolly oll of the benefi15 an(J ii5ks of ownership remoin with Ihe lessor chorged ogoinsl piolils c>n o slroighl line bosi5 over the period ol Ihe leose. Tanglble Nxed assets Expencliture on properly improvemerTrls. furniture ond equipment and moloT vehicle5 are copiloli5ed ond corried on the ￿l￿nCe Sheet ot hi51oricol costs. Freehold lond ond buildings ore iniliolly recorded cjl cost. which in¢lud&s purchtss& price and ony directly ollFibutoble expenditure. FreÈhold land ond buildings is r&valued lo its lair volue ol eoch rèporting dote tsnd ony changes in loir value are recognised in profil and loss. other expenditure on eouipmenl incvrrecl in the normol doy-to-doy runnino of the School is charged lo the Slalemenl ol Finonciol Aclivilies as incurred. Inve5trnent property Inveslm8nl properly is initiolly recorded cjl cos1. which inclLJdes purchose price ond ony direclly altribulable expenditure. Investment property is revolved lo 115 loii volLe ol eoch reporting dole ony chonges in loif volue ttre rÈcognised in the Sltslemenl ol Finonciol A¢livilies. Depreclatlon Oepreciolion is piovid&d lo wri1& oll the Cost ol oll r&levonl tangible fixed ossels less eslimol&cl residuol value tx)sed on cuwenl morkel prices. in eoual in51olmenls over their exp&cled useful economic live5 os follows.. Furniture ond eouipmenl Molor vehicles over 5 yeors over 5 years No clepreciotion is provided in respect ol builcling5 os the properly 15 5toted ot voluolion. The Trvslee hos uTrdertoken on impoirmenl review on the corying volue of property in trhe accoun15 ond hove concluded Ihcxl no imooirmenl has arisen. Inveslments Investments ore inclvded ol morkel volue os follows'.- Listed Inve51men15 at mid morket prices on yeor end date. Common InvestrTTrtrnt ot Unit Bid Volve5 on yeor end dole. Unreolised gains and loss on Ihe rev(Jluolion ol investments ore credi1ed CK charged lo Ihe Slolement ol Finonciol Activitie5 onu ore ollocoted lo the appropriote Fund according lo "ownership" of Ihe underfyin9 055el.

Poge 30 THE READ SCHOOL. DRAX NOTES 10 THE ACCOUN15 Icontinvedl FOR THE YEAR ENDED 31 AUGUSI 2025 Debtoi¥ TrcJde and other debtors ore recognised ol the selllemenl omounl clue otter ony discovnls ollered. PreryJymenls ore voluecl ol the omount prepoid nel ol ony di5coun15 due. CiJ$h al bonk ond In hond Ccish ol bonk ond cosh In hond inclvde5 cosh ond short term highly liovid investments wilh o short molvrily or three month5 01 le55 trom the dole ot ocquisilion or opening ol the dep051t (￿ similar occounl. Credltorg Creditor5 ore iecognised where Ihe chorily hos o present obligation r&5ulling from o wsl event Ihol will probobly r&suII in Ihe Ironsler ol funds lo a Ihircj porly ond the omounl clue 10 settle the obligotion cun be meosured or estimated reliobly. Creditor5 ore normolly rec￿niSed ot their 5elllemenl omounl olter ollowing for ony ITode di5coun15 due. Ctsncess5onory loans Conce5sionory loon5 olè occounted fly on the bosis of Ihe omount received. odjusled fu occrved inleresl ond repoyment ol principol. Flnonclol Instruments The chority only h05 linonciol 0$5els ond Finonciol liobiliti&s of o kind Ihol quolify os busic financKJI inslrumenls. Bosic linonciol inslrumenls or& initially recognised ot tronsoction volutr ond subseouenlly meosvr8cI ol the s81118menl value. Fund acrounllng The chorilabl& Irusl Ivnds ol Ihe gchool ore accounled IOT 05 unre5tricled CK restricted income. ty os endowmeril copilol. in accordance with the term5 of the trust imposecl by the donors or ony oppeol lo which thèy moy hove responded. Endowmenl funds or8 permonenl funds. Unr&stricted income belong5 to the School's chariloble reSe￿e5. spendable ol the discrohon ol the Governor& either lo Further lo School's object5 or lo benefit the S¢hool i15è11. Wher& IhÈ Governors decide 10 Sel oside ony port ol these lund5 to be used in lulvre lor some specific purpose. thi5 15 occounted lor by Ironsler lo th& oprrfopriol& d&signaled fund. Reslricled inctyntr comEK15es gift5. legocies ond gronls wher& there is no capital relenlion obligotion or power but only o trust low reslricton lo some specific PLJrr)Dse intended by the don￿. P&rmon8nl endowment aris85 where a donor ￿ntend5 the gitt lo be otoined permonently lor use by the School cy lor it5 linonciol benefit. The charity conlribules to the Teachers, Pension Defined BÈn&li15 Sch&mÈ - this scheme is a mulli- employer pension scheme. 11 15 not p055ible to icjenlify lh& School's share ol the und&Mying os5etS ond liobililies ol Ihe Teochers, Pènsion Defined Benefit5 Scheme on a con51slenl ond re050noble basis and therefore. as required by FR$ 102. account5 for the scheme 0$ if il were o d&lined contribution scheme. The School's conlribulion5. which ore in occc*donc& with recommendation5 ol the Govefnnielll Actuory. ore chorged ln the period in which the solctyies lo which Ihey relate ore poyoise. The School a150 operotre5 0 5cheFne non-teoching 51ofrF Ihrouoh the Independenl Schools, Pension Scheme. Conlribvtions poid in the yeor ore chorged in the Slolemenl ol Financial Activities os they become ptsyoble.

Poge31 THE READ SCHOOL. DRAX NOTES TO IHE ACCOLINTS leontinvedl FOR THE YEAR ENDED 31 AUGUST 2025 SCHOOL FEE5 Schocq lee5 receivoble consisl of.. 2025 2024 Gross fees ia.. To101 bursories tsnd olh8f discovn15 4.495.096 11.037.5221 4.115.683 5925.807,, 3.458.174 3.189,876 Exlros recoveroble. exominotion fee income, regislrolion fees. d*p0511s lorfeil. m6diettl services ond %h(xt lefm 51ay% 391.503 278￿7 3.849.677 3.467. All school feel in CLKreni and prèvious yèor reloied its unrÈslri¢l&ci lunus. OTHER ANCILLARY TRADING INCOME 2025 2024 UNRESTRICTEO FUNDS Trttnsport Other sundry income 94.883 84.098 ,905 70.840 178.981 154.745 All other oncillory Irocling income in Ihe previou5 yeor relotes to vnre51ricleLI funds. AUDITOR'S REMUNERAIION 2025 2024 Fees poyatyle lor the oudil of the linoncial 51olemenls 12.360 14.400 Fees poyoble lo the chorily s auditor ond ils ossccioles lor other swvices.. OlhÈr non-OU(Jit seTvi¢es DONATIONS AND GRANTS 2025 2024 DONATIONS UNRE51RICTED FUNDS keorj Scho(Y Enlerpri5e5 Limileol Olh8rs 30,138 6.283 s6.￿7 17.84Q 36.421 74,047 RESTRICTED FUNDS Olhers 32.451 47.333 GRANTS Unre51rictecl Fund5 Peslricled Funds 11,800 Ther8 are no vnlullilled conditions or olhef conlingenci85 allached lo Ih8s& gronls

Poge 32 THE RtAD SCHOOL. DRAX NOTES TO THE ACCOUNTS Icontinvedl FOR THE YEAR ENDED 31 AUGUST 2025 INVESTMENT INCOME 2025 Unrestricted 2025 Restricted 2025 Tgtol 2024 Aclive Sover Accounl Inler&sl 5.001 5.001 3.375 s.ooi 5.001 3.375 All inveslmènls ore WIth￿rn IhÈ UK. ANALY515 OF EXPENDITURE Total exp9nd￿Vre stalf cost5 Depreciotion Inote 91 Inote 121 other Total 2025 Charllable actfvM95 Teaching cosls Welfare ¢0515 Prem.'ses Suppor., ond governtsnce t05t5 2.137.982 1.650 221.157 324.550 442.753 277.204 2.359.139 326,2ty) 504.202 1.062.999 1.449 785.795 Tolol chorfloble eXpend￿Ule 2.925.427 61.449 1.265.664 4.252.540 Cos1$ of 9enèiotlng Ivnds Finon¢& ond olher ¢¢>515 16.559 16.559 Totral costs ol genewattng funds 16.559 16.559 Totral gxpend¥d 2.925.427 61.449 1.282.223 4.269.099 Sloll cost% DeDreciotion Inole 91 Other 2024 chai￿able atthfHles Teoching cosls WÈllore ¢051s Premises Svpport ond gove.'nance costs Inol* 6bl 2.074,587 7.979 452.545 958.393 305 7.674 391.575 ?38.063 60.970 720.3 lotal eharflable expendmure 2,683,751 60.970 1.048.7 3,793,504 Costs ol generoling funds Finonce Olner c05t5 12.256 12.256 Total cost5 of generating funds 12.256 12.?56 Totol expendod .683.751 60.970 1,061,039 3 805.760 01 th8 lolcjl 8xpendilure in the yeor £nil wos r8slricl&d12024 £nill ona £nil rek)led to on¢tswment fun¢512024 £nill.

Poge THE READ SCHOOL. DRAX NOTES TO THE ACCOIJNTS Icontinuedl FOR THE YEAR ENDED 31 AUGUST 2Q25 APIALYSIS OF EXPENDITURE Iconlinuedl 202$ 24 Support ¢Q51s include the following.. Non-ieocning support salarias Aclverti5ing and publicity Telephone & Inlernel Printing. copying. poslsge, stationery ond newspopers Audil0rf5 iemunerolK>n 41,239 8.681 36,753 12.360 25.947 43.715 14.400 STAfF COST5 The oggregoie poyroll costs lor the yÈor were as Follows.. 2025 2024 Wages ond solories Sociol 5e¢vriiy cosls Pen>on conlribulion5 2.181.443 230.245 490.909 2,071.229 386.834 2.902.597 2.654.178 Non& of Ihe Govern¢y5 received ony remunerolion. expenses ￿ olher benefits From the School OT ony connecled body. The School considers Ihol the key rnonogemenl personnel c(Knpri5e the Governo￿. Ihè Hetsd ond the Bursor. Aggregote employe& benÈlit% ol kÈy monogment petsonnel 160.898 The number ot mploy8&s whos tolol employ&e benefits 8Acluding panslon contributions eaming over £60.￿0. clossihed wilhin bond5 01 £I0.Cm 15 05 lollow5'. 2025 2024 £60.CQl lo £70. £70.ffl1 lo £eO.O £80.Wl lo £90.1) £90.CQl lo £IOO.LfQ Pension conlribvtion5 reloting lo Ih05e 51off eoming Over£60.￿ lololled £48.825 In ¢urr8nl y8or12W4". £37.2191. The overoge numb8r ol Ihe School's employees during Ihe yeor. wos 85 I￿24.. 79 2025 No. 24 No. Teoching & leaching support Dtsme5ti¢ Grounds l Driving Adminislralion 49 44 es 79 PROFESSIONAL INDEMINITY AND GOVERNER5' LIABIIITY INSURANCE The School 15 in5urecl ogoin51 cloim5 lor legol liubility mode in resp-cl of ony negiigenl o¢1. error5 ¢ om155ion Committed in good lailh by Irusl8e. governors ond stall. The prtmium for this is £I.59912024 £1.5991- TAXATIOM rhe School is o rÈoislercJ charity ond os luch is ex&mpl Irom loxolion on ils income ond 90ins falling wilhin section 524 6 01 the Income foxe5 Act 2W7 or section 256 01 the Toxolion of Chorgeoble Goin5 A¢1 1992 to Ihg extent Ihol Ih8s8 ore opplid lor chtyiloble purwses.

Poge 34 THE READ SCHOOL. DRAX NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED 31 AUGUST 2025 IANGI8LE FIXED ASSETS Freghold Lond & Property Impiove- ments Fuln￿Ule & Equlpment M¢toT Vehlcles COST Al I September 2024 Adoilions Adjustments Di5posoIs 6.044.069 142,558 731.293 82.143 7.057.062 101.704 139.7131 14.1631 110.4091 Al 31 Avgvst 2025 6.056.338 142.558 789,261 126.733 7.114.890 DEPRECIATION At I S&Dtemb¥r 2W4 Chorge lor yeoi Adjuslmenls On disP05a15 2.1￿.62} 607.993 46.290 65.364 25.924 3.4S6.978 72.274 110.7651 14.1631 Al 31 August 2025 2.783 621 644 771 85.872 3.514.264 NET 8OOK VALUES AI 31 Av9usI 2025 3.272717 142.558 144.490 40.861 3.600.626 AI 31 August 2024 3.269 448 142.5 I23.￿0 3.100.084 The chorilys Freeholcl propertie5 hove LEen volued by Chris Clvbley & Co iimilea. on inJeDoncl&nl voluer With o cogniled ond relevont proles>ional quolilicolion ond wiltt recent egperience in the locolion ond colegory ol th property being volued. on 8 Sgpiember 2021 on thè bosis ol opèn mork81 volue in occordonc& with Ihe Approi5ol ond Voluolion hAonuol ol the Royol Institution ol Chorterecl SurveyJs. HiFe purchase agreement5 Includ&a within n81 ￿ts0k vtslu8 01 £3.éQO.626 is £40.861 12024.. £77.1841 reloling to 055els held untter linonc lea%8 ￿￿￿ngeMentS The deprecKJlion charged lo the Financiol 51olem&nls in the in respcl ol such ossels omovnled lo £20.￿8 IW24.' £29.980I. Tongible assets held at voluatton In re5pécI ol tangibl tsssets hèld ol voluolion. the ogocegol8 cosl. depreclotlon ond cofflporoble COTrying omounl Ihal would hove been recogni5ed il Ihe 05sels hool been corried under the h151￿(01 c051 fflodel ore 05 lollow5".- Freeh?Id Propety At 31 August 2025 Aggr&oOl￿ cost Aggregote oepreciotion 4.552.802 12.783.621) 1.769.181 Al 31 Avgvsl 2024 Aggregate cosl Aggr*gol& ￿￿￿ecI0110n 4.552.802

Poge 35 THE READ SCHOOL, DRAX NOTES TO THE ACCOUNTS Icontinvedl FOR IHE YEAR ENPED 31 AUGUSI 2025 INVESIMENIS 2025 2024 Chorinco Cornrnon Inve51menl Funds Adepl Taylor 236 214 244 221 450 Investments ore sloted ol Morkel Valve. The cost ol the inveslment5 Qs 01 31 Augu51 2025 w05 £5CO 12Q24 . £5WI. There were no ocouisilions dvDng the yeor no ai5P0501 Dweeds were received. The lollovAng moteri¢Jl investments ore over 5% by value ol Ihe inve51rnenl held:. 2025 orkot Value 24 MaTkel Volue Chcjrinco Cominon InvastTnent Func15 - AcSÈpl - ToylcK 236 214 244 221 DEBTOR5 2025 2024 School Fee5 Olher deblors Pf8wym8nls 817.806 90.345 94.785 863.1 33.11 44.770 1.002.996 941.032 All deblus are due within on& yeor. CREDITORS.. omounls folllng due wwhln one yeor 2025 2024 Fees invoiced in ocjvonce rradé tréaiiofs Sociol security ond other loxe5 Pensions SvnJry cr=aitor5 onoj occruo15 1.328.394 212,269 412.831 48.977 62.020 25.422 1.560.190 152.842 45.944 49.152 IW.720 23.743 227.654 Loons 2.270.024 2.160.245 The loon Is se¢ured by meon5 ts1 o legoi ctttyge over the lond ond buildings forming The Reod School. Main Rood. Drax. Ihe loon 15 intere51 Irtre onol 15 iepoyoble by monhlly instolmenll. In IhÈ evenl Ihol P*od School closes tsnd the 05se15 afè liouidoled belore Ihe loan is lully repaid. Ihen repoymenl ol ony oulstoncling loon would be reqvired orior lo linol clistribvtion ol the refflosiDing eslole.

Page 36 THE READ SCHOOL. DRAX NOTES TO THE ACCOUNT5 Icontlnuedl FOR THE YEAR ENDED 31 AUGUST 2025 CREDITOR5'. omounls falllng duo wtthln one yeor Iconllnvedl Fg•s Involted In advarbce ieeonclllalion 2025 2024 8obnce bfovghl loDNord Amouni releasèd lo Slal&m&nl of Fimncioi Activitie% Amount (lefe￿ed in year 1,560.190 11.560,1901 1.328.394 995.778 1995.7781 1.500.190 1.328.394 .560.190 CIEDITOR5.' omo¥nts lolllng du• Oftor ong yoar 2025 2024 Loons 1,057.087 38,970 1?3.682 13.548 163.795 Other long lefm credilors 1.297.324 The loon is secur-d by rneon5 of o legol chor9e over the land <Jnd bvildings lorrning The Reod School. Rood. Drox. e loon is inl8r8sI Ir88 and Is repoyoble by monhlly inslolmenls. In the event Ihol Reod School c105e5 ond the 05sels ore liqvioloted bel(ye the loon is lully repaid. then repoymeril of onv outstanding loon would ￿ requwad pric* lo linol distribution of the remoining eslote. Af4AIYSIS OF MOVEMENT OF FIINOS Balancé al 31.08.2024 Incoming flesources Resouice¥ Expended Gaiths / IL055esl Bolonce ul 31.0&.2025 Tron51e Endowed Funds Foundoiion Copilal 3.388.691 10.269 3,398.960 Resmctèd Funds Prize Fun¢Js 10,oc¥J 48.221 158.2211 10.0 48.221 158.2051 Unrestricted Funds Geoerol R- 12.018.101) 4.045.627 14.269.099) 47.936 12.193.637) 12.018.101) 4.(MS.627 14.26Y.0991 47.936 12.193.637) Total Fund5 1.380.590 4.093.648 14.269.099) 1.205.323

Poge 37 THE READ SCHOOL. DRAX NOTES TO IHE ACCOUN15 leontinve¢Jl FOR THE YEAR ENDED 31 AUGUST 2025 ANALYSIS OF MOVEMENT OF FUNDS Icontinuedl Bolonce ol 27.￿.20?3 Incoming RÈ>ources Pe50urces Expended Goins / 8olon¢e ol 31.08.2024 Trtsnsler5 Endowed Fund5 Founooiion Capitol 3.379.162 9.529 3.388.691 Restrfcled Futhds Prize Func15 250 47.333 137.wl 10.( 250 47.333 10.wo Unreslricted Fund$ Geneial Resefii 11.970.465) 3,730.050 13.enS.759 28,073 3.?A).050 13.805.759 28.073 Tolol Fund5 1.408.947 3.777.383 13.gn5.7591 1.38),590 Foundatlon Capital Fhe loundolion copilol rerwesenls the originol endov¢menl as ougmenled by payments mode lowords imorovemenls lo loncj buildings. out ol unr8slficl8d funds. RESTRICTED FUNDS Prfz• Fvnds Theie ore Iwo funds.. the Adepl Awor(J ond the Jonothon Toylor Aword. Both owords hove clesignoted investments, th& income trom which is used lo provide for an onnvol prize. GM Ire$lrfctedl Funas were r&¢eivd In Ihe 2023124 year lor th& schcoi lo spend on o eouipmenl lor certoin svbi8cls. the provision ol o CCF meol. o memoriol Stone lor o retire¢ Governor. relurbishmenl of the boy5 boording room5. exptsnsion ol Ihe biomass h801ing syslem cjnd on aword lor our Commemorolion Doy. Th tM)lonce carrie(J forword in re51rictecl Ivncis g5 ol 31 August 2024 repre5en15 expendilurÈ incurrÈd In IhÈ 2024125 year.

Poge 38 THE READ SCHOOL. DRAX NOTES TO THE ACCOUNIS Icontlnvedl FOR THE YEAR ENDED 31 AUGUSI 2025 UNIE5TRICIED FUND5 Generol Re$erye The Gen￿[￿1 Re%erv represn15 o¢cvmukJleU Income fr¢>m th$ School's octivities oncj c>ther sovr¢e5 Ihal rKe ovoiltsble ltr the generol purposes ol the School. Endowed Reslrfcted 2025 Unreslrfcted Total 2025 2025 2025 Tongible fixe(J oss$ls lnve51rnenls N81 curTenl ossels Long term liobililies 3.398.?60 201.666 450 1996,6171 11.297.324) 3.600.626 450 1996.6171 11.297.324) 3,398.5160 12,193.6361 1.20S.324 Endowe 2024 Reslricled 2024 Unreslriclecl 2024 Tolol 2024 Tonoible Fixed tsss8t5 InvÈ51mnl% 3.388.691 211.392 465 1968.3781 3.￿.(￿3 465 1958 3781 10.c Long lerm liobililies Provilions 3.388.691 10,fflo 1.380.590 Under the requtremenls ol the Charities (Accounts and Reports) Regulalions 1995 the Gowefnor5 are lo onoiyse the voiiou5 types ol funcls. The moin re050n lor Ihis Is lo ensure Ihol luncls donolea lor o specific purw5e ore eormark wifrhin Ihe occounls. Funds hove been donated and generated over o pefiod ol many yetsrs pri(x lo Ihis occounling réouir*m8nl which wos inlrocJv¢&# in 1997. The Gov&rn(>r% hove Ih•rèlor& hod lo lokÈ thè vièw tss lo Ihe pru¢Jenl ollocolion of lotol FurKls held ot 31 Avgvst 1990. 18. FINANCE LEASES The lolal hJlur8 minimum DoYmen15 tsoyobie under finance leoses ore tss lollows:_ 2025 2024 Not ioier Ihon I yttor Loter than I yeor and ntrl loter Ihon 5 years 25.422 13.548 23.743 38.970 38.970 62,713 Finonc8 chor98s on Iinonc& leose ogre$ments in the yeor lololl8d £3.84012024.' £7.3661.

Poge 39 THE READ SChOOL. DRAX NofES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED 31 AUGUSI 2025 OPERATING LEASES The Totol minifflurn 1tr05e poyments under nort-concelloble operoting leoies ore 0$ Ioiiows".- 2025 24 Not lal&r thon I year Loler than I yetsr ond not loler thon 5 yÈors 7.431 10,527 7.431 17.958 17.958 25.￿9 Operoting 1tr05e5 poymenls re¢ognised os on exp&n5e in the yeor lololled £7.431 12024.. £7,431] PENSION SCHEMES DEFICII The School participole5 in the TeochdY5' Pen5iN Scheme Irnolond & Wole5I I'the TPS I lor ils leoching stoll csncl IncJÈp&ndènl Schoo15 Pension Scheme I the Isps") Tor ils non-leoching sloll. These ore mvlli-employer defined benefi15 pension scheme5 in the UK. 11 15 not p055ible for Ihe Chorily lo obloin 5ullicienl inlofmolion ro enable Il lo occovnl for Ihe scheme os o delined benefil pension scheme. Therelore Il occounls lor the schemes 05 delined conlribulion 5chÈme% Th8 ISPS scheme is subjecl lo funding legislation outlined in the Pension5 Act 2OJ4 which come into lor¢e on 30 Decemb8( 2W5. This. logelher with documents issues t>y the Pension5 Regulolor ond Teehnicol Acluoriol SlonLlorols is5uea by the Finonciol Reporting Council. set ovt the fromewoTk lor lunoling ¢elirEd benefit occupotionol pension schemes in the UK. The schemè is clalsified os o 'losl-man stor￿Ing orrong8menl'. TherelcKe the Chorily is polenliolly lioble for othèr porticipoling emploYerf5 obligotion5 if those emplo¥er5 Ore unoble lo meet their 5hor of th& schem& delicil following wilhdrtwoal From the scheme. Porticipoling employers ore legolly requirecl lo meet their shore ol the schemè deFicil on on onnuily pvr¢hos bosis on withurowol Irtrm the 5chèm$. A lull ocluoriol voluotion lor the Scheme w05 corried out with on elleclive dole of ￿ September 2023 This actuarial voluttlion w05 cr1ilied on I l December k024 ond showed assets 01 £99.2m. liabilities ol £151.5m ond o delicil 01 ￿2.arn. To eliminole this Ivnaing 5hOrtfoll. the Iruslee5 the tsorti¢ipoting &moioYers hove ogreed IncJI odditionol corilribulions will be poid. in combinolion From oll employers. lo the scheme os lollow5'. Fiom I September 2025 to 31 Jonvory 2034." £6.(KK).OW per onnum Ipoyoble monlhly ond increosing bv 3% on eo¢h I Seplemoerl Note thol the scheme's syeviou5 volvoiion wos ¢arried oul with an ellcliv& dole ol JO Sepl*mber 20￿. Thi5 voluolion showeo ossel& of £￿7.] m. liobililies of £256.3m o delicitr ol ￿5.2rn To elirninote thi5 funding 5hortloii. the frvslee ha5 osked the porlicipoling employers lo pay oddilional conlrit)vlions lo the scheme os lollow5.' From I Septembef ￿22 10 30 June 2032.. £2.687.OW per unnvrn Ipovoble fflonlhly and incr8tssing by 3% on 8och I Seplemtierl The recovery plon contributions are ollocoted to each porticipoling employer in line with their estimoled shore of the Wh8re th8 sch8me 15 in deficit ancj where the chority hos ogreed lo o deficit funding otrongeffleni lhe chority recognises a liability lor thi5 obligation. The tsmtrunl recogniiÈd is Ihe nel present volue of Ihe delicil ieduclion conlribvtion5 poyable under the agreerr.enl Ihot relote5 to the delicil. The present wolve 15 coi¢violeJ using the discovnl roie (Jeloiled in Ihe5e disclosures. The unwnding ol Ihe discovnl role is reco)n￿sed os o linonce cost.

Poge 40 THE READ SCHOOL. DIAX NOIES TO THE ACCOUNTS Iconllnuedl FOR THE YEAR ENDED 31 AUGUST 2025 PE14S10N SCHEME5 DEFICIT Iconttnuedl PR tN4T VA FPR 2025 2024 2023 Presenl volue ol ￿¥0vIsion 41 842 43.462 NIN AN PR 2025 2024 Provision ot stort of period UrhYindin9 01 the disc£￿nI toclu linleresl expense) Delicit conlribuiion poid Reme05LKemenls- iTnp¢xl of ony chonge in 055vmplion5 RemeasLff&m8nls omendmenls lo conlribvlion schedu16 41.842 1,825 15,7591 14301 64.340 43.462 2.342 1.629 Provion ol &nd ol period 101.812 41.842 AN 2025 2024 Inleresl expense Remeosuremenls- impocl of ony chonge in ossurnplions Remea5uremenls- omendmen15 to-onlribulitsn rhedultr ConlribvtioTrs poid in re5pecl ol fulvre se￿iCe 1.825 14361 64.340 288.416 2.342 253.385 Cos15 recogni5ed in the 51gtemenl ol linonciol octivits 354.145 257.356 Inclvde5 clelined contribution 5cheme5 ond Ivlvre 5ervi¢È ¢Ontr￿￿ul1¢rnS li.e. excluding ony deli¢il ￿(lUCI10n poyment51 lo defined benefil schemes which ore Ireoled os clelined conlribulion5 Schemes. ASSUMPTIONS 37.1￿.20?5 % p8r onnvm 4.79 31.C￿.￿24 % p&r onnum 31.ce.2023 % p81 annum 5.79 Role ol di5counf Th& di5countr roltrs Shown obove gre the eqvivol¢nl single discovnt rol¢s which. when vstsd Ic> discovnl the lulure recovery conlribulions aue. would give the 5offle result5 05 using o lull AA corporote bonts yield cuNe lo di5¢0unl Ihè same recovery pbn contributions. rhe following scheclule cleloils the delicil conlributiOn5 0gree¢ between the compony the Scheme ol eo¢h y*tsr 8nd period. 31.08.2025 13,156 31.(￿.2024 5.759 5,932 jI.Q8.￿23 5.591 5,759 5.932 Yeor I Yeor 2 Yeor 3 Yeor 4 Ytror 5 Yeor 6 Yeor 7 Yeor 8 Yeor 9 13.959 14376 14.8Q8 15.252 15.709 6,293 6.482 0.676 6.877 5.9(r2 6.293 4.482 6.676 6.877 5.902 6,944 Th& ¢horily rnusl rectsgnise a liobilily me05UT&d os the present volu& ol the contributions poyoble that oris& trom the deficit recovery ogreemenl ond the resulting expense in the slolemenl ol finonciol oclivilie5 i.e. the unwincling of the di￿OUn1 itsles 0% o Iinonce cost in Ihe period in which il c¥ises.

Poge41 THE READ SCHOOL. DRAX NOIES 10 THE ACCOUNTS Iconlinuedl FOR THE YEAR ENDeD 3) AUGUST 2025 20. PENSION SCHEMES DEFICIT Iconlinvedl 1115 Ihuse tonir,b￿'ltsrs ihoi hove been used lo d8rive the chafily's balance sh881 liabililv. RELAIED PAITY IIANSACIIONS Reod School Enlerpii5e5 Limilecl. o compony conlroiieu try the (Jire¢iors c>1 IhÈ eorporale Irusl88 of the School. donoled £30.13812024 . £56.2171 lo the School during the yeor. During the yeor o number of Oirecttys ol the coyporole tru51ee olso mode ijonoii¢>ns to the School lololling £2,276 12024 £22.2(Kll. A Truslee ulso mode ovoiloble o short lerm loon focility of £70.(tQ12024.. £nill, The balance ovtilonding os 0131 Avgu51 25 wos £70.{K￿ ana no inler&si wos charg8d on Ihe locility. On 28 October 2022. legol popemort W05 exchonged for the novolion of the ltson trom Arinve Limil8d lo on8 ol the director5 01 the corporole Iru51Èe ol the Chority, In the omounl of £1 424 143 On the some dole. o deed ol voriolion and condilionol wolver onLI TeÈ05e regoxding the loon 0grsem$rnl wos ogree befv¢Èen the Chorily and th& direclor of the corporol8 Irusl88 lo whom th8 loon was novolect. The Impocl ol the deed ol variolion wos lo chonge the repoymenl term5 01 the loon. 5V¢h Ihol no rÈpoymenl wos dve lo rnode in the 2022123 finon¢iol ytrtsr Subseovenl to this, on 19 December ￿23. 0 second (Jeed of variolion regording the loon ogr&menl wos ¢Jgr8e(J efv¢èÈn Ihe Chttrily and th& diretlor ol Ihe corporole Iruslee. Th8 impocl ol Ihe second deed ol Variot￿n wos lo further chonge the repyymenl term5 Of Ihe loon. such thol no r&poymenl wtss due to made until 31 Jonuory 2024. On ￿ April 2025. 0 third deed ol variolion regcycling the loon ogreemenl w05 ogreÈd bÈfv¢&en the Chcjrily ond the direclor ol the corporote trustee. Fhe impacl of Ihis Ihircj cjeed ol voriolion wtss lo further chonge the repoyment lÈrms. os R8 menl dol& Arnounl Colen(Jor Yeor 2025 Following the ogreemenl Ihal prcceecjs Inel ol associoled sellino cos151 from the 501e of 8NG poin15 will be used lo reduce IhÈ loan Poyoble in monthly in5101m$nls Jonuoty 2026 lo August 2026 or a5 tsgreed by the Lenoler in writing Poyobl& in monthly inslalmenls September 2026 to Augvsl 2027 or os ogree¢ by the Lender In wrilino Poyoble in monthly inslolmenls September ￿2? lo Augus12028 or os ogrÈed by the Lender in wfiling 'The Finol In5toimenr School Yeor ￿25/26 School Yeor 2026127 225,0 School Y8or ￿27128 233.570 School Yeor ￿28/29 'The Finol Instolm&nl' meon5 the lower ol..- ol the sum l(K sumsl oclLrolly received by Ihe Borrower lif tsnyl lot a Sole lor such 5vrns which ore ogreed lo bÈ poid lo the Bo￿ower pur5voni lo ony conlrocl for 501ÈI ÈnterÈd into pric lo the Finol Insl¢Jlrnent Dole ol ony port ol the loncl ond bvsiness chorgeLI os Sec￿ritY lo the Lenoer lor the 8orrowefs otyligolion5 under the loon ogreemÈnl". cjnd bl the 5UTn of £611.408.55 Thè bolanc& on the loon os 0131 August 1125 wos £1.219.981. The loon is secured by meon$ ol o legal chorge over the freehold IcTna Ouil¢ing5 ts1 the Chority- 22. TRANSFERS During the yeor Ihe chority expenclecl on improveTMenls lo the lobric ol the schwl £19.561 12024 £9.529I ol unreslricled Ivnds. The imposition ol vi4T on private %chool l&es during the yeor 0150 meont Ihol on omount ol £9 29212024 £nill ol hisloricol input lox coulC be recovered by Ihe School This sum is reflècled Ironsltrs belween Ivnds In Ihe Slolemenl ol Financial Aclivilie5 on poge 16.