2023-07-31-accounts

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 The King's School Ely {A Company Limited by Guarantee Annual Report and Financial Statements For the year ended 31 July 2023 Contents Page I |Pagse

THE KtNG'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Dkrectors* goYernor8. officers and advisers Annual report for the year ended 31 July 2023 Governors, Report 5-10 Strategic Report 10-20 dependent auditor's report 21-23 Consolidated statement of f]nancial activities for the year ended 31 July 2023 2¥25 Balance sheet5 at 31 July 2023 26 Consolidated cash flow statement for the year e￿ded 31 July 2023 27 Note8 to the lirwicial stateFnents foT the year ended 31 Iuiy 2023 28-45 21PagFe

THE KING'S SCHOOL ELY Company Registratlon Number 2440509 Charity Number 802427 Directors and Governors See next page Principal John Attwater Company Secretary Roger Axworthy Clerk to the Board of Goyernorg Roger Axworthy Name and Registered oifice of the Comwy The King's School Ely, Bayton Road, Ely, Cambridgeshire. CB7 4DB R%istered Charity Number 802427 Registered Company Number 2440509 Registered VAT Number 183012243 Bankers Bardays Bank plc, I Churchill Place, Canary Wharf, London. E14 5HP Solicitors Veale Wasbrough Vizards, Narrow Quay House. NaTrow Quay. Bristol BSI 4QA M￿S and Reeve LLP, Botanic House, 98-100 Hdls Rd, Cambridge CB2 IPH Peninsula Business Services Limited, The Peninsula. Victoria Place, Manchester, M4 4FB Independent auditors Haysmacintyre LLP, 10 Queen Street P]ace, London EC4R IAG Insurance Brokers Hettle Andrews, Eleven Brindieyplace. 2 Brun$Mryck Place. Birmingham. Bl 2LP Investment Managers Cazenove Capitsl Management Limited. 12 Moorpte, LondoTh EC2R 6DA LCLA Investment Managcment Limited. Senator House, 85 Queen Victoria St, tx)ndon EC4V 4ET Buildings Consultants CheTr￿S, 25 Market pl, Ely CB7 4NP Bidwell's LLP. Trumpington Road. Cambridge, CB2 2LD 31Pagye

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Trustees and Governors The trustee of the Charity is The King's School Ely, a compny limited by guwntee. The directors oFthat Company are the members of the Board OE GoYernor$ as well as being members of the Company. members o( the Company each has given a ￿arantee not exceeding onc pound whilst they are members of the Company and for one year after ceasing to bE a member. Thc Goi'ernors who served during the fjnancial )'ear and up to the date of approving the financial statements wcre as follows.. Membership of Boards, Committees and Working Parties (chair of Board indicated by #, Vict- Chair by . & Chair of Committce indi(3ted by +) Board of Fin4ncL. E< Gentraj PuTPOb Nomination Edu(al5un Rc]nunLration hirs.tL¥d Pension Worknng liroup x+ Working Croup GovLrnance EducatiDn Da￿d DAY x# x+ Amand& Èkn Gavin A¢htyYJli Mark Bonncy Plulip CantWLII Divid Cobton (¢1 16.10.20231 Sit'phJttic L(x4(￿<?ud x+ (LIL￿1￿ 6.8.20221 FL'Thella Nlartin- Chri% imodde KthIL¢n MilnL' ILILCt¢d 6.B.20221 Mirk MYLY Isobel Newport- x+ x+ x+ Jo*Lyh Pc3kL' MichaL.I Prottur The Co-opted Governors are appointed by the Board of Governors for the time being. The Chapter of Ely Cathedral is entitled to appoint two Governors (Lncluding the Dean of Ely who is nornjally an ex-olTicio Governor). The Ely Dioce&an Education Board ap￿Ints one representative Govcrnor. All Other tsoyernois are co-opted. On 30 September 2022: Kathleen Milne was appointed Chair ofthe Fair5tead House Education Committe¢ and Nick Longford was appointed metnber ol. the Fairstead Hoube Education Committee. Thc Fairstead House Education Committee was established in accordance with the merger of the King's School Ely Fairstead House School TTh￿( Lid. The first meeting o£thc FaiTStead House Education Committee took place OD I l October 2022. On 30 June 2023.. David Day was re-elected as Chair OF the Board OF Governor5 for a second tknee-)'ear terni from June 2023 10 June 2026. Amanda East was re-decied as V&LE-Chair of the Board of Governors for a second three-year tmn from June 2023 to June 2026. Kathleen Milnc was conhrmcd the apFOintment as representative oFthe Ely Diocesan Board of Education.

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 On 14 June 2023.. The Governance Working Party to review the business model and g0ven1￿ce stnicture ofThe King'$ School Ely and Fairstead House School met lor the first time. The Governance Working PaTty comprised the following Governor members of David Day. Amanda East and Mark Myers. Governors, Report Status and Structure 'I'he King's School Ely is a Tn￿t established in 970 AD. I'he sole trustee of the Trust is The King's khool Ely, a separately consti￿tea company limited by guarantee. The assets of the Scknol are regstered in the name OE the Comwy as trustee, but oivnerthip is retained by the 'frust. Under a Charity Commission uniting direLtion dated 20 February 2003, the Trust's original charity registration number (311440) was changed to 802427 and the Charity was formally linked to its'l n]stee Complny. The Artieles of Association of the Company were revised in July 2022. Ltt)der the Artides of Association only members oFthe Company shall be ippointed governor5 of the School. Thc GovernoTS acting as trustees on behal( of the Company are responsible for the financlal statements of the Trust. The Trust has charitable status for taxation p￿￿Ose$. The ￿OrmatiOn on Governor5, officer5 and ad￿ser5 on pages 3 4 forms part oFthi5 Governors, AnDual Report. Objec6 Aims, Objectives and Policy Charitable Object ltse object. For whieh the Con]pany 15 established, 1$ to advance the educativn OE the wblic inclu education in the teachings and PTactice of the Church of England. Overall Purpose.. King,. Ely exi8ts to give the very best education, opportunities and pastoral carL io as diverse a COTnnkunity of children as we can. In doing so we aim to prepare each one to knve positive. produetiye, successFul and fillfilled lives. fur the betterment of themsdves and the world around them. How sye will achieve this: through operation oFa family of s&ools celltred around a 2-18 co-educational day and boarding school its Ely, aiming to draw Eully OD our exceptional en￿r0D]nt0t, htstory. physical, cultural. spirltual and human resotwces in doing so. Public Benefit Our immediate beneficiaries are the young people whose altendance can be funded by their parents or guardians, or else From bursartes or other fonns of charitable grant s￿POrt proTrided by the Scho(Jl under the Remissions Policy and external charitable organisations, or a combination of these. However, governors are mindful of the long-stsnd￿g need to provide public benefit and OE. the requirements of the Charities Aet 2011. be]ieiryng that soLiety in general is the ultimate beneficiary of a King'5 Ely education and that d incuicatkon oFsound social values andpersonairewnsibihty in our pupils will be of benefit to any communily in which thcy live and work. In this connection, Govemors have monitored closely the wdance on public benefit produced by the Charity Commission together its supplemenial wdanLe on fee char￿ll£.

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Bwsaries are awarded to pupils by the Bursaries Awar&8 Committee on the basis of means-testing using an independent orgwisation, B￿S￿Y Awar& Limited, and are overseen by the Governors, F&GP Committee. During the year Kitig's Ely continued to work with Royal SpringBoard and other Chariti￿ to Identify ecipients of transfomational bursaries, a5 well as providing places for a number of'refugees from tILe war in Ukraine who arriNed in the UK under the Homes for ukraine scheme and by other means. tn addition to the means-tested bursaries aTLd Choral awards, the School 18 invulved in a number OF&￿]vItieS wkneh benefit the local and wider cojnmunities, and the Sehool rllaintiin5 a public benefit Tegister which list¥ many of the opporiunities we oiTeT. These activities induded: ettabling a daily chnral tradition during term time at Ely Cathedral as well &% special services, Festivals a￿d concerts, through the financi￿ support and provision oEeducation to Ely Cathedral Boys, and Girls, Choirs. providing, free of charge or at heavlly subsi&'scd rates. acces5 to our faci]ities For sporLs, arts, a(3demic and social events for both locally and llationally, and to arts events for the communily. as a loundey mcmber of the Cambridgeshire Education'frust (CED in pArttLership with Cambridgeshire County Council> proiryding a platFI)nn support lor a wide ra￿e of stsff training and partsLership activities for children UF primary and secondary age within arowid Cambridgeshire. donating proceeds from m￿81C￿l productions to 5UPPOrt other charAtie$' community action projects by our own staff and students, inclUd￿g I(￿ care andprimary education proiryders. orgaws•tion of aud contributions to academic events for children from aiT05S the region. pro￿ding support to seyerai o( our *ta(r to be governors at IoLa schools and to be involved Én other providing for the public. free of charge, tours oFthe Old Palace and other ancient buildiLig5; donating homemade wup and scones for the homele85 and vuinerable ID the lod area. enabling work cxperience lor pupils from local school5. proirydmg ESOL lessons to the refugees from the war in tlkraine whu have arrived in the local area UDder the Homeb for Ukraine scheme. Close links between PaTents/yardians and our teaLhers, as well as Old Ele&ns, In addition io ow monitoring and contributing to the develvpment of national education initiativcs, enable us to ensure ihat the Schooling we provide is innoviuve, releyant and imaginative and thereby represents best practice. Well over half OF our empluyees are aciivdy involyed in commwiity and tharily work outside school r￿]ng from chairmanship of national djarities to running Guide trc)op$ and raising thousands OF pounds for charities. Active ]iaison with loeal organisations andthe communkty atlarge enables us to maintaill dynamic and relevant activities for the public benefit. 61Page

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Enablin8 artivities To enable the 8chool to fulfjl its aillLS we seek to.. Manage sehool fimds etEcienilv in order to ensure an appropriate and stimulating environment in which to live and learn. prO￿at financial support io enable chiLdren whose parents are unable to afEord the fdl fees to benefit from an education at King's Ely; Pro￿de dear and effertiye management capable OE taking tin)ely decisions and allocating resources aPPTopriately and provide the necessary administrative and logi5UC framework to address the needs of members of 5talYand pupils a]ike. The aittL$ and objective5 set for the School's subsidiary are to Fa(i]itate the achievement ol the School's aims and objectives as above. Governance and Management Board oJGovernors The constitution OE the Governing Body and pariiculars of the Governors who served during the year are ven on ￿ge 4. The Governors are aware of the Charity Governance Code published in 2017 <and revisLd in March 2021) which sets oul the prinaple$ and recommended practice Eor good goyernance within the sector. The Nomination and Governancc Committee has revlewed the Charity's current guvernance arrangements a￿st the principlcs within the code. The .1 rustees continue to seek to employ best practice to deliver the highest standardb 0£ governance For the Charity. Since 2021 the Lommittee has devdoped further thc documeniation of besl practice in the Charity's governance, including production of a Governors, Handbook which is updated annually and conducÈb' a skiLIs audii oFthe Board of Govcrnors every three years. Recruitment and Trainin8 of Governors New governors are appointrd at a Boardmteting on the recommendation ofthe Nomination and Goyernance committee, chaired by the chair ofthe Board of Governors. Nojninations and suggestions are in￿ted from across the School community and beyotLd. The Nominations and Governance Committec uonsiders these in acciirdance Ivith the requirements detaded tFLe Articles of Association. ImportaThce is placed on diversity, appointing new Governors who would altract support For the School both within the local communiryj among ￿rentS and $ta&l, and on a national or internauonal scale. Weight AS also given to the Y¢￿1¢ experience and qualthcations possos5ed by retiring Governors, ana by those due to retire wlthin two years. to ensure continuiry of representation oFa broad Yariety o( Governors ￿th * cr08S 5eciion of tslents. A formal induction is arranged for all new Governors. Tkn's ensures that they are familiar with the School, the way in which it 01)eTates, and the currcnt issues which face GovernoTS and the Senior Leadersh4) l eam. 'Ikis involves wovision of L comprehensive pack OF relevant PZ4pers. followed by meetiDgs and visits to familiarisc the Governor with the School &nd the key personalitie$ induding.. the Chair of the BoaTd, the Principal. the COO, athd the Heads of the four elements of the SLhool, Heads OF DepartTncnts. inclu Support Staff and the Clerk to thc Governors. Training of Governors is carried out through the medium of internal 5eminArs. presentations and EdUC￿e online course$. Governors are also encouraged to attend external scminars such as tho$e run by AGBIS, ISC, HMC or ISBA. 71P2gye

THE KING'S SCHOOL ELY Company Registration Nun)ber 2440509 Charity Number 802427 Or8orJisationaJ Mana9ement l&e Governors, as the charity Trustees, are legally re*onsible Eor the overall management and control of the Sehool and normally meet four times a year. Much of the detaaed work i5 Larried out by the memberg of the Financt aDd General Pu￿oSe5 Committec (F&GP), who meet ID adYaTJce of the full Board meetings uired. The Eduearion Committee and the Nominations and Governance Committee and at other titnes as req norfflally meet three times a year. The Remuneration Committee meets once a year. Other Com￿1(tee5 of Governors are formcd as wuired from titoe to time. All committces report to the full Buard of Governors. the Chair OE Governors is an ex-Lilllcio member of the F&GP Committee, the Education Committee and the Remuneration Committee. aDa is Chair ofthe Nominations and Governonce Committee. Faip4iead House School, a P¥ep school in Newmarket, merged wlth the King's School Ely on 51h Au￿L 2022, further detail is included in the notes to the accounts. The School a unified organisauon structure, The Principal is Chief Executive. During the year. the School had four dements.. King's Ely ALremont (KEA), including the Nursery (KEAN), King'5 Ely Prq) {KEP), King's Ely SeDior (KES) and FaiTStead Hou8e School (FHS) including Fairstead House Nursery. The Principal of ihe King's School Ely is Chief Exeeutive of all lour sections. KES, KEA. KEP and FHS each have a Head OF Section undor the direct oversight ofthe PEinapal. I'he Chief Operating Officer, who is reTonsible for all on-academic staff and funLiions needed to support the School's educational objects. reports diretdy to the Principal. The day-to-day ruKuJing of the Scly)ol is co-ordinated by the School L¢ader5hip Team and thc afFairs of each School managed by a committee chaired by the respectivt Head of Section and attended 3$ necessary by the PriDcipal, chief Operating Ofhcer and Chid F1th￿ClaI Olhcer. In March 2023 the Secretary of State approved the School's increase in pupil roll to a maximum capcity of 1250. Group S¢ructUTe The Cknity has a wholly tra&ng $ubsidiary which is incoryorated in the Ut)ited Kingdom, King's School Ely Ent￿riseS Limited. whose activities and trading performance are discussed below and in note 3 of the f￿anCIal statements. A lurther wholly owned Trading Subsidiy, King's Ely Ottagon Scho¢)Is Ltd (KEOS) was Inco￿Orated in thc United Kingdom on 23 Auyst 2016. The compny is not )ret trading. Empjowent ￿l1¢Y The K￿,5 Sch(x>l Ely is an equal opportunities employcr. Full and fair consideralion is given to all job appli(3tson5 and due consideration is given ro thcir tr3inirLg and employment needs. All applicants for Lmplowent and existing employees are treated by relerence to their particular aptitudes, abi]ities and relevant qdifications and receive equal treatment &8 pra￿dea by law regardless OF gender, sexual orientation, marital status, race. coluw, nationah"ty, ethnic or national origins, reh'gious bdief, age or di$ability. Consultstion fflth Cmplows. or their representative5, has continued at all levels with the aim oFtaking the vieiys of employecs into account when decisions are Tnadc that are likdy to aEFed iheir interests.. Re￿lar Mee1Jn￿ are heldthroughout the organisation in which all subjects, teaCh￿g and non-ieaching. are discussed with the stafi. at ail levels. Empltsyces are madc aiwe OE the fjnanaal attd economic performance of the Sd￿01. Recruittnent related child 5afeguard]ng aspects are rigorously adhered to and all employee5 receive 81Page

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Child Protectiotl aJ)d SafegU￿al￿g trainiDg. Pay i5 bet by the Governor5 Finance and General Purposes Committee. Individu￿ stafrrmay appeal for additional remuneration. Volonteers There is an aLtive Old Eleans, association which supports the School. The Friends of the King's School Ely {FoKSE), an independent body operating ll￿der its own constitution, proTrTrdes a focus For the prent body, ex.members of ¥t&ff and those with close ￿SociationS with the School enabling them all to continue to be part of our activities. Remuneration Remuneration is Set by dLe Board on the recommendation of the F&GP Committee, with the objective of providing a remuneration paekage to attract, retsin and motivale our excellcnt staty. The Board has also T￿Med its comnkitment that the School be a National Living Wage employcr. Pay is generally reviewcd annually after the Board has. Considered any comparisans available within the secior (For eyamplc by taking part in 5eLtor wide bendllnaTkng surveys), a£Fordability and the need to remain competitive. Some staEThave been additionally rewarded for exceptional performance and/or atkn'eyed intemal progression at the discretion OF the Principal. Remuneration of key management personnel 15 separately considered by the Governors Remuneration Lommiltee, usuill), annually. Delivery of the School's charitable vision and Object$ is pri￿ar11Y depen¢knt on our key management per8onnd and $tatTrelated costs are the largest Single element ol. our Lharitable cxpcndithre. Governors, indemnities As permitted by the Articles OF Assoaation, the Governurs have the benefit of an indemnity, whieh 1$ a qua]ifying third-party indemnity prosqsion as defined by Section 234 of the Companies Act 2006. The indeTnnity was in force throughout the last fmanciai year and is c[￿rentlY in force. The SLhool also purchased and TnaAntained throughout the fmancial year Governor5 and otficers, liabiliiy iDsurance in respect of itself and its Governors. Statement off Gov¢rnors' A¢countRny and Reportin8 Re$wnsibiJities The GoveTnors (who are 3150 directors of The King's School Ely for the Pu￿oSe$ of compaThy law) are Tespon5ible For preparing the Governors, Annual R¥ort. incorwrating a directurs, report and strateg report and the financial statements in actordance with apphcable law and Uniled Kingdom Generally Accepted ALCOWlting Practice {Urrited KiTLgdom Aceounting Standards). Company laiv r¢quire5 the Governori to prcpare linanaai statements for each financial year. Under company law, Governors must not approve the finatkeial statements unle55 they are satisfied that they ￿ve a true and fair of the state of affairs of the charitable company and the group and of the Ancoming resources and appLcation of resources, including the income expenditure, ol'the Lharitable company and for that period. In preparAng these fu)ancial statements, the Gov¢rnors are required to.. select the most suitable accounting policies and then apply them consisteThdy' observe the methods and principles in the Charities SORP. ynake judgments and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been Followed. subject to any material departures disclosed and ewlained in the PJnanLial statements; and 91pa￿lL

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 prepare the fitwicial statements on the going concern baw unle55 it is inappropriate to prcsume that the charitable comp&n}' will Lontinue in business. The Governors are responsible Eor keeping adequate accounting Tecord8 that are suffiaent to show a￿a explain the charitablc company's transactions, disclose with reasonable accuracy ol any time the fjnancial position of the charitable company and emhle them to eT￿e that the fllwiclal statement5 Comply with the Companies Act 2(X)6 and the prowsions of the School's constitution. 'ltsey arc also respoD5ible for bafeguarding the assets of the charitablc company and the group and hence For taking reasoxjable step5 (or the preventioD and detection of fraud and other irregularities. Insof•r as 6￿h of the Director5, as meTnbers 0£ the Governing Body. at the date olapproval of this report is aware, there is no relevant au&'t ￿ormatiOn of which the School's auditor is unaW￿e. Each member of the Governing Body has taken all the gtcps that he or she Should have taken as a member oFthe Governing Body it) order to ￿e htmself or herself aware of the relevant au&t Jnformation and to e8tablis.h that the School's au ditor is awarc oFthat inforJn&uon. Strategic Report Achievements dnd Per orm(w¢e King's Ely has enjoyed another high]y wccessful year. The Schoul princApa]]y provided education in Ely and Newmarket to boys and girl$ from the ages of 2-18 in King's Ely Nursery. King's Ely Acremont, King's Ely Prep, King'5 Ely Senior, King's Ely InternatioKd, Fairstead House School and Fairstead House Nursery. A5 noted above educational opportunities were made available to locaL children wherever p055ible. This year average attendanLe t(Trtalled 1,297 {2022- 1,036) and consisted of.. 'I"otal Boarding 2023 1.otal Total Day Pupils 2023 2023 Totsl Boar(h'ng 2022 Total Day 2022 l-otal Pupils 2022 King's Ely Senior King's Ely Junior King's Ely Acremont King's Ely Nursery King's Ely International Fair5tead House khool Fairstead House Nursery Total 133 28 573 114 413 527 386 414 39 329 368 80 80 81 81 30 32 18 20 93 93 65 65 191 1,106 1,297 865 1,036 Heds ofseetion inKEA, KEP. KES and FHS, have continued to lead teachers and p¥ils to higher a5pir•tions and measurably I￿ProVed outcomes. 28.3 0/0 of 2023 A Level grades were A 480/0 were A/A grade5- 73.4 A *_B ￿ade. Overall pa¥s rate wa5 98.5 %. Value addcd scores Clintinued to improve. Most itnportandy, ￿ S￿dents seeking universily placements for 2023 were sUcCe￿ful in securing places at a university of their choice. GCSE outcomes were also strong. 10.7 Yo ofpasses 5sere Grade 9. 26.SU/o were Grade 9-8, 46. IYO at Grade 9_7. 94.80/0 at Grades 9-4. IOIPagF¢

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 The one-year tnternational GC8E programme results continued to be strong with an aV￿age grade aboye 7. a reDiarkable achievcn)ent for them. Each section of the School rcportea its Pra￿eSS in academic attainment. sport, outdoor education. Lompetitions of all kmds and the arts, in various publiLatson5 intlu&ng weekly newsletttrs from the Heads ol each %ection of the school. We coniinue to hold the covcted International Schools Award and we are an accredited eTrning ￿001, re￿￿l￿g Quality tAbel awards in all four of our el winning projects. We continue as a National Holocaust Partner School all)d a growing number of our students achieve succeyb in regonal and national compctitions acros5 a wide range OF di50plines. Estate Strdte8ies to ochieve the School's Lims King'$ Ely continue5 to strive towards providing the best possible environment to enable ow students to ihrive whll5t $tt]dyng, forming friendships, and developiDg lifelong sLI]Is. DLWiDg 2022123 the focu5 for continu&l improvement has been directed in the following areas.. Improving the infrastructure oFthe school, notably a new hot water and healing boaer to Priory, onc of our KEP boarding houses, new water heaters. storage tanks and putnps installed in Hercward Hall and HJI House, two ofour KES boarding houses, a Dew wooden sprung floor to the School's Theatre after more than 4) }'ear5, as well as the refiwbishment of several teaching areas. The Monastic Barn, the School's main fdtering outlet oriwally b￿t cirea 1575, has a new walk.in refrigerats)r, and as always with a large campus Such as King'b Ely's, there have been several roofing repairs. including Hill FIou5e and thc Old Pa]ace, King's Sixth Form centre. In line with our laboratory refiwbishment program, we completed another Chemistry Lab to high standard. itnpT(JNing the eyericnce for our senior Students. The refurbishment ul Acremont House, King's Pre-Prcp home i%,hLre our youngest children are educated, continued this sunimer with a complete reFurbislvnent of all internal spaces. This followed on from last year's ivork which focus5ed on the exten)ai fabric of d beauttful propcrty, a$ wdl as repknccllkent bathrooms For pupils on each floor. En addLtion. we have created a magnificent, wooden roundhouse fr¢)m the timber of a felled oak tree frum the same loc&tioD, which will be used as an outside das5room to eknce the learning experienLe. Pre-enabling work for a new h￿-Size Astro has continued this vear, acquiring planning perrntssion, completing archaeologc31 works and collaborating WAth the 1<K￿ authority to re-dirert public rights of way. tu allow construction of this much needed fackiity. With the leasing of Bishop Woodford House we have completed significant work creating five additional dassrooms for our Year 8 students, as well as making way For a new medical centre facility, welfare counsdling areas, and o￿lC¢ spaces. Works to improve the Almhouses. our much-needed staff accommodation, has continued infvastructure upgrades Includi￿ roofing works, window replaLements and additional electric heating. Security of the large campus has improved further six ad&tional CCTV cameras, a total 0140 cameras now covering the estate. including Fairstead House, supporting the Site Twn in protecting the SLhool. Health, safety, and welfare improvements continue, Ivith our students, wellbeing otw top priority. At Fairstcad House. improvements to systetns and procedurcs have resulted IT) gaining the school safet) award. matching the aCCre￿"t￿￿On already held by King's Ely. Loekdown systems have been added to Acremont and Fairst￿a House and external lighting has been Improved. AdditlODal safe walkway5 have been introduced around our sports faalities and at Bishop Wuodford House. 11 |Pagyc

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Futur¢ developments King's will contÉnue to build on our success and popukn'ty in the IoL71 mai.ket and internationally by aintaining elFective marketing and continuous improvement to the education we prO￿de. Careful cost control together with organic change to creaie greater e(Eciencv where posslblc, continues to co1￿0]￿date the business model, building up capacity for Euture inve$tsnent and means-tested bursary awards while maintaining restraint in lee rises and demonstrating value for money. In 2023/24, ￿￿¢ will continue to plan for future ÉnYe5tment while being cowisant OF challenges from future government policy to the opcration of independent schools and aiming to mIti￿te incrcased costs io paTenls Ivhere possible. The School aims to continue it5 sports investhjent programme as above. as well ￿ providing ad&tional facilities in the light of growing School n)Jmbers. In the cornu￿ years we will continue to focus on creating and ensuring a diverse pupil and statT community in line with our ethos of holistic edu(ation 8nd the best preparation Eor life For our clllldren in o glob wor kplace. Remissions policy The pojicy is reviewed annually by the Board 0£ Governors during the s&ool'5 budgeting proce￿. The Govemors are c.ommitted to broadening acLtss to the School and they authorise ipercentage olthe ￿0$$ fee income (Icss staff discounts} to be allocated for allowances, bursaries, choral awardb and 5choknhips. Such awards arc at the discretion of the Prinripil and confirnied by Governor¥. FLdl details of the Remissions Policy artt published the School's Ivebsite. and y4d￿Ce is freely available from the School. In the year to 31 July 2023, the value of allowances, bursaries, Lhoral awaTds and discounts made to pupils wa5 £2.549,369 (2022= £2,185,845). Goi'ernors ofler meaThs-tested fllwicial 5UPPOrt for a number of eligble children who would not orherwise be able Éo take advantage of the education otFered. These bursaries may apply to new applicants on entry to the Sthool or to clisting pupils in the evcnt of changed circumstances and ￿ awar<Lq are reTrrytwed all￿ually. As the School does not have an endoivment for funding burs￿ awards, Governors are mindfill thai a balance be achievtd between those parents who make considerable personal sacrifices to Fund their children's Sch fees and those benefiting from bursary &55iStance. Govemor5 SUPPOrt the education olthe Boy and Girl Choristers oFEly Cathedral by providing Choral awards and PrO￿at allowances Eor families of the Arnied Forces ofthe Crown, eligible members of the Foreign and CoAnmonwdth Office and the Clergy serving the Christian Faith within the Ang]ican Coln￿UnI0n. Families Tith three or morc children altending the School concurrendy, receive a sib]ing discount. Scholarships and exhibitions with a fixed remission on tuitioll fees ofbetiveen SO/D a￿a IO% are awayded to talented pupils to promote the conlinu&tion of excellence. tn order to attract and rctsin the very best academic and support siatT, the School operates a discount scheme For all staff members who dLoose to educate their children at the School. 121Pagie

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 FiDanciol RevieFY and ResulrsJor the Year The results for the fllwLcial year are set out in the Consolidated Statement of Financial Aetiiities on page 24. Excluding Lhe exceptional income arising in the year thruugh the merger with Fairste&d House school, Ihere was net income for the year of £2,36>3,813 as compared with £820,057 in the previous year, and an overall net increase in funds oF£2,477.311 u)mparea with £904.742 in the previous year. The ad&tion of Fairstead House School's assets, valued at £2,613,638, is rdlected as exceptional income. Fee income in the year was £25.967.064. an inLTea5e of £5,7M,813 over the previous year, refletting the boardmg/day oEpupils, ch￿¢ Fee levd and merger with Fairstead House School. Expenditure on projects has iotalled £1,930..556 of which £1,368.506 has been capitaiised, including the continued investment in boarding and day facilities. and the overall estaie to meet health and safety requircments. It is of note that some unF￿ed Support Staff positioDS through the year and purch&sing of utliities in adyance lcd ro loM'cr expenditure than budgeted. These are nol eyected to be annual sawig8. Performance oJsubsidiazy (ompony Dw the year King's Sthool Ely Ent￿rISeS Limited accrued £80.525 (2022: £48,985) for a gifi aid payment to the School, thereby transferrkng all its taxable profits to the School. The activily in the subsidiary coiiipany Is exTrected to decrease in 2023-24 From this year's level ofacrivity. Taxation The %chool is a registered charkty and as such is entidea to ccrtain tax exemptions on income and profits from invcstments and surpluses on any trading acti￿tIeS (arried on in furtherance of the School's prirnary objectives, if these profits and suTrluscs are applied solely lor charitable purposes. Fundroising performance The majorlty of the School's income is from School fees and other associated income. The khool has uot engaged with third parties to rai* funds and any direct approach to member5 OE. the public For funding ha5 been limited to P￿entS of pupils wd alunll)i. No complaints were received in relation to our fundraising acti￿ties. Grants and donations totslled £230,048 during the year to 31° July 2023. Reseryes Polity The School's totsi rescrves stood at £18.3m at the vear-end, including L537k of umpent restricted income and £17.7m unrestricted income induding the pension fund deficit of £18k. The School's policy. Ivkn'ch is reviewed annually by Governors. is to protcrt anabuild reserycs to ensure the School's continuing ability to prowde first class educational services- through stcady recrwtment ok'puplls at all stages 0£ the School and by prudent budgetary control. 'fhe target is to hold three munths, operating reseryes wrythin Cash and Investtnents. Due to the policy of reinyestsnent into r]xed assels and the rurjning of the school. there are no free reserves at the year end. Going Concern The Governor5 hai'e considered the School's ct$h position, sources oFinLvme, fimds available to the School and plaI￿ed expenditure, and modelledseveral scenarios and5tress tests iticluding the currentglobal political 131Page

THE KING'S SCHOOL ELY Company Registratlon Number 2440509 Charity Number 802427 situation, the rising cost of h'ving. and increasing infiation. These scenarios consider reduced pupa numbers, delayed fee payment, increased utility costs and potential bad debts a5 well as impact on costs (rom the tneasures taken so far and mitigations that might be taken ill future. Sensitivity around these assumptions has also been considered in their lorecasting. Resutts of this cash flow and sensitiTrity atdysis indicate that the cash rescrves of the charity are adequate to meet the charity's obligaUODS as they [￿1 due. Additionally, despite the wider uncertainty irA the economy) the strength of the School's balance sheet is such that the Governors consider t&ere is no material unccrtaiDty over the School'5 fmancial viability. Having regard to the above. the Governors believe it apwopriate tcj adopt the going concern ba5iS accounting in preparing the financial statements. Investment Policy and Objectlves Governors power5 of investment are unfettered. Funds donated for Tecific qcholarships and $chool prizes continue to be invested thruugh the Charlties offici￿ Investment Fund. Other undeSi￿ated ￿ndS are In￿ested through and managed by Schroder & Co Limited, CaLeDove Capitsl Management who report to the Board ol Governor5 on a regular basis. The larger unrestrlcted funds. totaliDg £3,808,590, are held in Mu]ti-As5et Fund with appropriate investment targets. The inve%tment objective is to ddiver a real return plu5 30/0 net of fees. The value oFthe investment ha5 Rncrcased by 2. 10/0 over the year. Note 9 tu dLe financial statement5 shows the movements on these IuDds during the year and, where relevant, give a description of the ternis on whiLh the Funds held. Thc investments are 5UtTicient to meet the School s ob]igations on a h]nd by fund basis. Governors review the policy aTmually. Capitalibation PolIcy The School's is to ￿pital)se any tangible assets (individual or grouped) or infrastruLlure/e5tate enhancements. projects in excess of£i,000. Statement olstreamlined Eneru tznd Carbon Aepotrtins (SECR) SECR disdo8ures are mandatory For listed 2nd largc unlisted UK cornpanies with r￿OrtIng ￿eleS beginning on or after Isi April 2019. 1.his report summarises The King'b Sthool, Ely'$ {King's Ely} energy usage, associated emissions, energy ctEeAency actions and energy performance undcr the government policy Streamlined Energy & Carbon Reporting (SELR). This is implcmented by the Companies (DTrrectors' Report) and Limited Liabilitv PartnershL'PS (Energy and Carbon Report) Regulaiions 2018. Mandatory information for compliance 1$ detiiled on page$ L4to 16 ofthis report. Under the Iwlation. King's Ely must disdose its energy consumption, cmissions, illtensity metrics and all energy ekficicncy improvement$ inkplemented For all UK operations. King's Ely 1$ a UK-incoToratcd business. An operational boundary has been applied for the purposes of the reporting. A total oF3.(W/o of consumFtion data used For SECR been estimated to achieve IOOO/o &ta coverage. Reporting Year.. Au￿￿1 2022 - July 2023 King'5 Ely Scope I dirert emissions (COTnbustion oFnLtural g& and tranwrlauon fue15) for thi.% reporting year are 847.31 tC02e, resulting from the dirctt combubUOlI Qt 4,520,821 kwh of ￿e1. This repTescnts a (xrbon reduction o(_7.18¥o from Ihst year ending July 2022 (Figure l). 141PagTe

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Scope 2 Indire￿ eD]i55ions (purchased electricity) for this reporting year are 226.39 tC02e. resulting From the CODsumpuon of 1,095,278 kwh of electricity purchased and consumed in aay-to-day businttss operation5. This Tepre8ents a carbon reductiou oI-4.OP/D Irom last year ending July 2022 (Figure l ). Kll¥'s Ely's operatioDS have an iniensity metric of 0.86 tC02e per Pupil for this. reporting year. 'I'hi% represents a reduction in dLe operatiotLal carboTL intensity of _22.79 % from last year ending July 2022. Annual Reporting Figures: Consumption and Location-Based Emissions The followryng tables show the consumption and associated emi$$ions For financial years ending July 2023 and July 2022 for all operations. Total consutnption and locatinn-ba5£d emissions are reported in Tables 2 and 3. Scope I consumption and emissions inaude direct combustion olnatural gas. and ￿elS uiilised for transportation operation¥, for example. c.omwy vehicle fleets. Scope 2 consumption aT)d emissions cover indirert etnissioDs related to the consumption oEpUrd￿5ed elertrioty in day-to-day busine8s opcrations. 151Page

THE KtNG'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 *opq s¢1￿1T￿l •47 •4y i.D.￿L￿￿E ar7￿ QsFierFu ts¢Dpell Annual Reporting Figures: Year-on-year Changes Natural gas congutliption decreased year-on-year by-8.80Yo. This can be attributed in part to the introductlOD of more etyicient gas boilers arAd the implementation of additio￿ BMS controls. Transportation fuel consumption incrwed year-on-year by +7.980/0. This Lan be attribuled to the increase in pupils enrolled alongside the inlroduction oFadditional pick.UF routes (which has a by-eiTect of fewer Lars coming to the SLhool). Electriaty consumption deLTe3sed year-on-year by -10.570/0. This Can be attributed io the increase in etyiciency acros¥ operations (LED fittings, BMS controls, and improved environmental awareness). Annual Reporting Figures: Voluntary Market-Ba$ed EmissioD5 King's Ely dual-report on location-based and market-based emissions fartors. Market-bastd en)issions demonstratc the carbon reduLtion achieved by renewable clectricity procurement. -1 otal Tnarket-based cmis$ions are reporled in I'able 4. The market-based ¥proath caplures scope 2 emis5ion8 in more detsil by £actoring ID the as5e5sment of the residual energy mix ol King's Ely s supplier. The supplier contract in place For the FY22123 perlod deliv¢rs IIKP/o of electriaty from renewable sources, and thus scope 2 emissions equate to zero tC02e under the market-based approach. 161Page

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charlty Number 802427 wM- r.fill FIXI¥￿ly oco Energy EtFiaency Narrative Ener Efficienc% tm rove King's Ely is committcd to ye￿-On-year improvemenls in its Operation￿ energy elllcienev. A re¥ster of energy eEficiency measures has been complled, with a vicw to maintaining these measures over the next five years. Measures ongoing and undertaken through 2022123: LE Fittin amme Over i 10-year period, King's Ely has COD)mitted to making year-OD-year upgrade5 to its lighting infraytrueture. The project is currently its third year of implementation and is projected to contribute to further reductions in seope 2 emissions arAd oEler finanoal Sa￿ng$ oveT the lifetime of each LED installation. Gas ruvements King's Ely introduced more efficient gas bailers over the reporting period. This has contributed to an 8.56Q/o absolute emi8%ion reduction observed rdative to the prior reporting period. The projeLt is expected to deliver substantial cost sa?Ingy over its lrfetime. in addition to improved environmental perFonnance. ' din T EfGLienc King'5 Ely introduced B￿ding Management SFtem5 (BMSS) to improve the efftaency of heatiDg and cooling across it5 Portfoliv of properties operated. The result is a a￿aMiC CODtroI system able to respond to clw)ges in real-time at peak efficiency. The BMS systems are currently adopted in The Old Palace, The pr￿ Scknol, "rhe Haward Theatre, Priory. Hill House. School House, Gibson Music School, Hereward Hall, Etheldreda and Wendreda. Etlvironme Aw￿¢ King's Ely conducted a seasonal eThvironmentsl awareness campaign to manage fuel and electricity COD5umption during peak winter months. The Cam￿1gn enforced core messaging around thermostat controls, witching otTlights, and the importance layering up. kn festive spirits, reward5 were placed in thc Forni of chocolates to motivate our pupi15 and Further incentivise good enwonmentsl practite.

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Mtasures prioritised for i￿pIeme￿tatIOn in 2023/24= LED Fittin Pro ramme The 2023/24 reportitLg period will coincide with the 4th year of the King's Ely LED Fitting Programme. During this period, King'5 Ely aims io de]iver a lull LED re-fit to our Astroturf pitLh lighting infrastructure. Risk Monasement The Board of Governors 1$ reTonsible for the management of the risk5 fattd by the School. 'llie management of risk is a routine wt of all school activities and apprupriate procedures arc in place to mitigate those risks so far as is reasonably possible. The major risks to which the School are exposed, as identified by the Governors, are monitored through a regu12r reiiew of the Risk Register which records details of the identified risk, as8cssment, and mitigati actions. These are coordinated at regular meeting5 of the Board of Governors and its Committees, School Leadership Team, and the sel￿01,5 Health and Salety CoTnmittee, at which the Board OF Governors, all parts of the Sthool and principal d¥￿tments are represented. 'fhe Governor5 have dclegated to the Principal and Stnior Leadership Team all &spects of risk management, including the day-to-day operation of the approved Risk Man4ement ProtOLoI, the ]dentif￿ation, asscs5ment, and control of risk: and the provision of adequate irrforniation to the Board of Govcrnors to enable it to make sound ri¥k de(25ions. The school has a fidl.time Health arAd Safety Coordinator. The key risks identified it￿llde Governance and Management (including compliance alld insurance), legal atLd regulatury (itacluding education, emplo￿ent, and child protertion>, ftswicial managcment and fiscal. LOtnrnutLications (including public relations), oFrauonal (iTLduding health and safety) and political. Examples of potential risk identified and addressed by a risk assessment in the year arose from political threat aTLd landscape such as VAT on school fees, loss of charitsble status. risks that are unforeseen. such as sub8tatLtial reduLtiun pupa numbers for any reason. must particdarly afFordabaity; and breakdown or cyber-altack5 of ICT systems in their sUP￿Tt ulkey ftimdiODS. such ¥ data storage. Pllwicial management and Human Resources. The key controls used by the School include formal for all Committee and Boird acti￿ty,. detailed ternis of reference for all ComElliiiees" cumprehensive strategic planning, budgeting, and management ccounting; formal wrilten policies- clear authorisation and approval levels, and vetiing procedures as required by law for the protectlon of the wlnerable. All 8tatT are gven induction training in health and sa(ety and sateyaraing. It is recowsed thar systems can Ovdy provide Yeasonable but not absolute 35surance that rnajor risks have been adequately managed. Compliance in all areas oFchild protection, education, business, health aDd safety, employment, 2nd charity law continue5 to be a high priority. 181Pabse

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Section J 72 Statement The Board of Governors confwm that in attordaTLce with Section 172 (1) of the C'oTnpanies Act they act in a way they consider would be mosi likely to achieve the charitable objert5 of the Company. In making this assessment the Governors have considered the following: a) The likely con5equence$ of any decision in the long term The long-tertn 5UStainabxlity of the operating model is consldered by the Governors as set out in the going conLrrD section of the Annual RepoTt. SpeciPicatly7 the Governors con8ider both shorl- and loThger-tert financÈal projections and the key risk¥ thai coda negatively impatt the subiainabiiity OF King'.s Ely. The Governors re￿eW managemeni AnforniatiOD, budgets. forecasts, cashllow projections and progress against the finanaai plan OD a regular basis. Risk ma￿agement is embedded at a]1 levels across the Company. The most sigtllGcant risks arc discussed at the appropriate Governors Committee meciing and tach Board meeting. b) The intereqts oFthe Comp3ny's emplo)rees In relation to employee engagement, the Governors receive regular r￿OrtS EronL the PrinLupal and the %cnior school management on the perspectives of staty. With regards to Board Diver51ty, there arc five wnmen and ten men. King's Ely ha5 complied with the UK'$ Equality Act 2010 Regu13tions 2017 that requirt the publication of information on tELe gender pay gap for UK employees avmually. The 2022 report is avadable on the King's Ely web￿le. c) The need to foster the Company's business rdationships with suppliers, c[￿0merS and others. 'lkne immediate beneficiaries of the School are its pupils and parent8. In relation to key stakeholder ¢ng4ement, the Governors actively promote re￿lar activities and are commilted to ensuring that the School's mission and value5 are reflected in its approLch to buying good5 and services. The School is trawarent wlih information and i% kecn to build mutually beneficyal relatioDshw. Commwiicdtion with parent5 is by weekj), newsletter, periodic update letters from the Principal, virtual or in person year group parental coffee morning5 and Indi￿aU21 Lonta¢ts with tutors and pastoral/ieaching $t2ff. The Indi￿dUa) and ollective "Pupil Voice" 1$ encouraged and listened to, whether via Forum$/Committees, qucstionnaires. or tutor groups. A "you said, we did. culture exists to communicate and record atiy change5 Within the pupil community back to thc pupil body. d) The imprt of the Company's operations on the community and the environment The Company has complcted the Encrgy Saws Opporwrrity Scheme (ESOS) re￿rtIng rwements and is now rwrting under the Streamlined Energy and Carbon Re￿rting I£ECR) see page 13. The School's considerable contribution to the local community is set out at page 6. Such aetivities inclu(kd partnership work and Sup￿rI to local state lunded schools, voluntary serv￿ce. and community action projects, and oIFering use of faalities to NHS services. The desirability of the company rnaintaining a reputation fvr kngh standard5 of busincbs conduLt King's Hy's Procurement Proces8 ond the King's Ely Bribery Policy have bcen approved by the Board of Governors. The Board of Governors seeks to pro]Dote best practice in the procurement proL¢sbes that demonstrate Fairness and intcgrlty. compliance relevant laws atld regulations, and LonfLdentialily. l o this end the School applies thr highest stxndards of business conduec, including adherence to all applicable laws and regulations relating to friud, bribery and comiption wherever it operates (induding the UK Frlud Act 2006 and Bribery Act 2010 wkn'ch applies to the Schoul s operations Ix)th in the UK and globally). 'fhe SL.hool's Wkn"sdeblowing Policy supporis stsEI' in delivering thts approach. The need to art fairly as between members ofthe company. 191Pii¥L

TH￿ KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 The Board UFGoYernors ha5 a contlicts of interest policy coniained their working ndes. All Governors and Cotnpany OffiLers make an annual dedaratign of busine55 interests and the Governors and Company Officers declare A(there is any eontrh'ct of interest relating to any item on thc agenda at each meeting. Independent Auditors HaygmaLintyre LLP are the &p￿1nted auditors for the School. Thi5 Annual Report. wcpared under the CJJaritie5 Act 2011 and the Companies Act 2006, was approved by the Board of Governors on il, Decerrtber 2023, including in their capacity a5 company dirertors approving the Strategic Report contained therein, 2nd is $i￿ed as authorised on its beh￿{ by.. Mr David Day Chairman of the Board of Governor5 Mr Mark Myers Chairntsn of Finance & General Purposes 20IPagye

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Independent Auditor's Report to the Members of The King's School, Ely Opinion We have audited the finana statements OF The King's School, Ely for the year ended 31 July 2023 which comprise the Consolidated Statement of Financial Activities, the Group and School Balance Sheets, Consolidated Cash Flow Statement and notes to the kncial statements, including & summary of 51 Icant accounting policies. The fjnancial reporting framcwoTk that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 The Firtoncial Re￿nIn9 SÈ&nJord applxcoble in the UKand Republic offlrelond (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: ve a true and fair view oFthe stste OE the ￿0up'S and of the parent charitable compny'5 aif8irs as at 31 July 2023 and oEthe ￿0up'S and parent clwithble company's net movcment in fi￿d$, indUd￿¥ the income and expenditure, for the year then ended; have been pro￿11Y prepared in aecordancc with Urrited Kingdom Generally Accepted Aceounting Practice. and have been prepared in accordance with the requirements OF the Comp anies Aet 2006. Basis for opinioD We conducted our audit in accordanLf With International Standard$ on Auditing (UK) (ISA5 (UK)) and applieable law. Our re¥ponsibilities under those standards are Further described in the Audi¢or'8 re5pvnsibilities for the audit of the finaned statements section of our rTort. We are independent OF the group in accordance with d]e ethic￿ requirement¥ thai are rdevant to our audit OE. the Gnanaai stalements in thc UK, including the FRC'S Ethical Standard, and we hale fulfilled our other ethical re￿POnsIbl11tse9 in accordancc with these requirements. We believe that thc audit evidence we have obtained is sutEcient alld approprlate to provide a ba515 for OUT opinion. Conclusions relating to going concern In auditing dLe financial Statements, we have concluded that the trustees, use of the going concern basis of accounting in the prwation of the ￿ancial staten)ents is appropriate. Based on the work we have perfonned, we have not identified any material uncertainties relating to events or conditions that. illdividu311y or collectively, may cast significant doubt on the group 's ability to continue as a go￿ng eoDcern lor a Friod OF at least twelve months Rrom when the financlal ststements are &uthorised for issue. Our reTonsibi]ities and the reTonsibilities of thc trustee5 With respect to going concern are described in the relevant 8eLXions of this r￿ort. Other information Thc trUSte&8 arc responsible for the other information. The other information comprises the infovmation includcd in the Annual Report. Our opinion on the financial ststetnents does nut cover the other i￿OrMation and, except to the extent othenvise explicidy stated in our report, we do not express any form of assuranLt condusion therenn. In connection with our audit of the financlal statements, our respunsibility 15 to read the other llrfomition and. itl doing so, consider whether the other inlorniation is Tnaterially inconsistent with the kinanLial ststements or our ktLowledge ubtained in the audit or otheThYise ttppcars to be maierially mAS$tated. If we 211PagJe

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 ident&y such material inconbistencies or apparent material mi8statemcnts, we are requircd to determine whether there is a maierial misstatement in the financi￿ statemcnts or a material misstatement of the othcr itrformation. tf. b&sed on the work we have pcrFormed, we conclude that therc is a material misstatement OF this other inforjnation, we are requircd to repurt that fact. We knye nothing to rcport ill this regard. Opinions on other ￿￿tterS pvescribed by the Companies Art 21 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Annual Re￿rt {which includes the strategic report and the director5 report prewed for the purposes of CoM￿nY law) for the financial year Eor which the f]nancial statements are prepared is con5iStent with the Pllwicial statements. and the strategc Teport and the dirertor$' report included within the Annual Rcport have been prepared in accordanee with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understauding of the ￿0UP and the parent charitablc company and its ¢nKrOn￿tnt obtiined the coursc ol'the audit, we have not identified material misstatements in the Annual Report (which incoryorates the straiegic report and the alr￿tOrS, report). We have nothing to report in respect of the followfjng matters in relation to which the Comwes Act 2006 requires us to repoTt to you if, in our opinion.. adequale accounting recor(L$ have not been kept by the parent charitable company. or the parent d￿ritable company financial statements are not in agreement with the accounting records and returns. or certain disclosures of trnstres, remuneration specified by law are not made" or we have not received ￿ the information and explanations we reyire for 0￿r audit. Responsibilities of trustee5 for the financial $tatements As explained more fully in the trustee5' re5ponsibaities statement set out on pges 9 and 10, the truslees (who are also the dircctors OF thc chan'table company for the Pu￿Osc5 01 company law} are responsible For the preparation of the f￿an￿al statements and for being satisfied thit they gye a true and fair view, and For such internal control ab the trustees determine is necessary to enable the preparation of financial statements that are free from material mi5Statement, whether due to Fraud or error. In preparing the fuwicial statement8, the trustees are responsRble For &8ses5ing the ￿0up,8 and the parent charitable company'$ ability to continue as a going concen), disdosing. as applicable, matters related to going concern and using the going concern basis of accounting unless ihe trustees either irhtend to liquidate the group or the parent charitable company or to cease 0￿rationS, or have no realistic alternative but to do so. Auditor s re5ponsibilitie$ for the audit of the financial statements Our objectives are to obtain reasvnable assurance about whether the financ'ial stateTtLents as a whole are free from material misstateTnent. whether due to li+aud or error. and to issue an audRtor'$ reprt that includes our opinivD. Reasonkble assurance is * high level ol. assurance. but ts not a guarantee that an &udit coTrduLied in acLordanct with ISAS (UK) will always detert a That￿1￿] misstatement when it cxists. Mi￿lateMentS can arise from fraud or error and are Lonsldered material if, Individu￿lY or the •g￿egate, they codd reasonably be expected to infiuence the economic deci8ions of users taken on the basis of these r]nancial statements. rre￿I￿rAtie8, including fraud, are instaTLces OF non-tompliance with laws and reguiatiuns. We design procedures in line with our responsibilities, outlined above, to deteLi material misstatements in respect of 221PaLV¢

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 irre irregularities, induding fraud. The extent to wl)ich our procedures are capable of detecting gu]arAties, including fraud is detsiled below= Based un our under5tandirLg OF the ￿0UP and the eniqronmeDt in which it operattt, we identifted that the principal risks of non-compliance laws and regulations re]&ted to The Education (Independent khool Standard5} Regulations 2014, safeguarding regulations, health and safety r4uiren]ents, GDPR, employment law and charity law, and we considered the extent to which non-LDmpliance ￿ight have a material effe￿ on the financial statements. We also considered those laws and regdatiO￿ that have a direet impart on the preparation of the financial statemcnts such as the Companies Act 2006 and the Charities Act 2011, and payroll tax. We evaluated maDagemenl's incentives aJ)d opportunities for fraudulent manipulation of the financlal statements (includLng the risk of override of control$). and determined that the principal risks were related to improper recO￿tiOn of revenue and management bias in accounti￿ estimates. Audit protedures perfonned by the cngagement team included.. Inspecting correTondence wAth re￿latorS and tax Luthorities" Discussions with management including Lonsideration of known or suspected instances ol non- compliancc with laws and regulation and fraud. Evaluating management's eontrols designed to prevent ana detect irregularities" Identrfying and testing inurnals, in particular journal entries posted with unusual account combinations, postings b), unusual users or with unusual descriptions,. and Challenging assumpiioDs and judgements made bv management in their accounting estimates Because oFthe inherent limitations oFan audit, Ihere is a risk that we will not detect all irre arities, including those leadwg to a material misstatement in the fAnanaal statements or non-compliance with regulaiion. This risk increases the more that compliance with a law or regulation is removed Irom the events and transactions rdlected in the fmancial statements, as we will be Icss likely lo become aware of iTJStanccs ofn0n.co￿plIanCe. The risk is a150 greater regarding irregulariues OLcurring due to fraud rath￿ than error, as fraud involves intentional concealment, forgery, Lollusion, omi55ion or misrepresentation. A further descrlption oFour re$ponsibi]ities for the audit ofthe fllwicial stktetfLents is located on the Financial Reporting Council's website at.. ii'ww.ir )oiibibJiU¥). This descrkption forms part oFour auditor 5 report. Use of our report This repori is made sc)Icly to the charitable comP￿Y'S member5, as a body, in accordance with Chapter 3 of Part 16 of the Companie8 Act 2006. Our audit work has been unaertakcn so that we might state to the charitable compaThy'5 Jnembers those matters we are rewired to state to them in an ALLditor s report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume Tcsponsibilityto anyone other thaTJ the Lharitable company and the charitable coMp￿Y'S members. a5 a body, for our audit work, lor this report, or for thc opinions we have formed. 'I'racey YouThg {.%enior sta￿tOrY Auditor) For and behalf of Haysmacintyre LLP. Ststutory Auditor 23 February 2024 10 Queen Street Place London EC4R IAG 231Page

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Con80lidated Statement of Financial Activities Incorptrrating an Income and Expendl'ture account for the ycar ended 31 July 2023 estritied Restricted Tot2L Income Charitablt activities Fees rcceivable Ancillary tra(h'ng inc<)me Other tradi￿ activities Non ancillary trading inL¥)me Inve5tment$ Inve$ts))ent income 25,684,340 1,494.967 25,684,340 1,578,420 20.222.251 1,097,952 83,453 162.707 161707 63,061 152,375 152,375 11,4H Voluntory Sources Donations, gantg and legacies Tronlerfvm Faixs¢ead d4ssed <Ls Exceptional 230.048 2,613,638 230,048 2,613.638 68,548 Total income Expenditurc on: Raising funds Non-aneillary trading Financing costs Inycstment managemenl costs FuT)&aising & developnient Totsl c￿Sts ofrai5ing funds 40.855 l92,439 39,656 987 40.855 192,439 39,656 14,076 287,806 37.987 299,937 299.937 340,629 Charitable activitAes Education 453 Total txpenditure 2$ 39 19 Net InC0￿e before. investment gains/ {losses) 4,982,451 4,982,451 820,OS7 Gains/l105se$) on investtnents 122.403 {1,701) 120,702 6.371 Transfers between Fun& Penson Actuarkl Gain {12,204) (14204) 78.317 Net movement ID funds for the year Net movemcnt in funds for the year excludinR exceptional income The notes on pages 28 to 49 forni part of these F]nanaal 5tatcJnents. 241Pagve

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Consolidated Statement of Financial Activities For the }rear ended 31st July 2023 {CODtinued) Reconciliation of Fund$ UnrestriLted Restri Tota 2023 Total Net (Eyn&'ture)/lncome for the year Funds balances brought forwards at l AU￿$t 2022 Fund balances txrried forward at 31 luiy 2023 5.092,6SO {1,701) S,0￿,949 904,745 12 619 673 53 470 13 159 143 12 254 398 All activities are Llassed as conlinuing. The notes on p&geg 28 to 49 Fonll part ofthese rjnanuai statements. 251Page

THE KING'S SCHOOL ELY Company Registratlon Number 2440509 Charity Number 802427 Balance Sheet as at 31 July 2023 Note Group School 2023 2023 022 Fixed assets Tangible assets. Invebtments Total fixed assets 18,037,782 15,541,891 4,092,978 4,012,084 22 130760 19 553 975 18,037,782 4,093,078 221308 15,541,891 4,012,184 19 554 075 Current assets Stocks Debtor8.' amowits due within one year Cash at bank and in hand Total current assets io 44,832 ,129,230 35.768 556.835 3 646 190 4 238 793 44,832 1,312,250 5 710091 7 067 173 35,768 619.737 35768 4 232 305 7 074 773 Creditors: payable within ODe year (5,975,433) 5 197 910 (5,%7,933) S 191 522 Net current assets/(liabilities 959 117 Totsl asset5 l&ss current li3bAlitie8 23,230,IIN) 18,594,858 23,230,1(K) 18,594.858 Long terni liabilities Creditors.. Pa￿ble after one year Net assets 13 (4,980,008) 5 435 715 (4,980,(M)8) 5 435 715 Represented by: Restricted.. Illcome lun& Unrestricted Funds Pension Reserve Total charity funds 15 16 17 537,769 539,470 17,694,180 12,589,326 537,769 17,694,180 18 539.470 12,5119.326 347 Net income / (Eynditure) for the year for the parent charity was £2,408,01 I when excluding the exceptional income arisiThgon the n]erger with FairsteadHouse School, and£5,021,649 whenthe exceptional income 1$ included (2022.. £904.745) These financial st&tements were approved by the Board of Governois {a$ Trustees) on 8 December 2023 and signed on its behalfby Mr Da￿a Day.. The notes on pages 28 to 49 form wt OE these financial Statements. 261PagYe

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Consolidated Cash Flow Statement for the year ended 31 Iuly 2023 Note 2023 2022 Net cash inflow from operating activities 19 3,687,518 2,201,860 Cash flows from investment activitie8: Purchase of tangible r￿ed assets Withdrawals from securities within investment portfolio Mavemcnt in inve51ment cash Dividends and interest Bank and loan inteYe$t p￿d Cash received on merger with Fairstead House School T￿￿t Litnited Net cash used in investing activities 8 <1,435,718) 54,782 (1,518.763) 333.459 6,281 152,375 (142,121) (66) 11.444 196,779 {1,167,622) (1,461,732) Cash Flows from financi￿ activities Repayment of loans 1 260 266 265 2,254,521 1 260 266 (520,138) Change ID ca￿h and cash equivalents irt the reporting year Lash and L2sh equivalents at l Augu8t 2022 Cash and c&sh equivatents at 3 l July 2023 The notes on pages 28 to 49 forni part of these fll)ancial statements. 271Page

THE KING'S SCHOOL ELY Compny Registration Number 2440509 Charity Number 802427 l. Accounting policies Charitable Status The Charity is a company lituited by guarantee (company registratiun number 2440509) and is a regstered charity in E￿land and Wales {802427). The address of the reg5tered office is Barton Road, Ely, Cambridgeshire, CB7 4DB. Basis of accounting The fllwicial stalement5 have been prepared in accordanLr wlth the Financial Reporting StatLdard appkn'cable in the UK ana Republic OF Ircland (FRS102). the Lharities Act 2011 and the Statement OF Recommended Practice applicable to clwitie5 preparing their accounts in accordance with the Financial Reporting Standard app]i￿ble in the UK aJ)d Republic of Ireland (FRS 102) - Second Edirion {eife¢tive l January 2019). The individual eTktity attounts of the KI￿,5 School, Ely has tsken advantage of the disdosure Lxetnption undeT FRS 102 to separately disLlosure categories of kncial instruments and items OE income, eyenses. gains or losscs relating io instrutnenls as these have been presented on a group basis in the notes to the accounts. The Governors have considered the SLhool's (xsh posltion, wur￿5 of income, available to the School andplanned expenditure. and modelled several 5cetJari0s and stress tests inclu¢lLng the current global political situation, the rising cost of living, and increasing infl&tion. These SLEnarios consider reducea pupil nvmbcrs, delayed fee payment, increased utility costs and potential bad dcbts as well as impact on cost$ from the measures tak-en so far and mitigations that Enighi be taken in future. Sensiiivity around these absumptions ha8 also been considercd in their forecasting. Results of this cash flow and sensitivitv analysis iThdicate that the eash rc5erves OF the charity are adequate to meet the charity's obligaUODS as they fall due. Additionally. despite the wider uncertainty in thc economy. the strength ol. the School's balance sheet is 8uch that the Governor¥ consideT there is no material uncertainty over the 5chool'5 fmancial viability. Hay regard to the above, the Governors bc]ieve it appropriate to adopt the going concern basls of accounting in prewing the f]nan¢ial statements. The function￿ currenLy of the School 15 Collsidercd to be GBP because that is the Lwrency of the primary economic environment ITh which the Sthool opwate5. Critical a¢eountiThg judgements and key sources of estimation uncertainty In the applieation of the charity's accounting policies, wknch are de$￿Ibed in the note below, Trustees are required to make judgements, estimates. a￿￿t￿ptIOnS about the carw Yaiues of assets and liabth.ties that are not readily apparent from other sources. The e5timate8 alldunderl￿ asbumptions are based on historical experience and other factors that ore considered to be releva￿l. Actual results may ddFcr from these e51imates. The estitnates and underlwg asswnptions are refviewed on an on-guing basi5. Revision5 ti) accounting estimates are recowsed in the per&od in which the estimate is revised if the revision affects only that period. or in the period of the reiqsion and future perlods itthe revision affects dke current and futwe wods.. Jn the vieiv of the Trustees, no assumpuons conceming the futvre OT estimation uncertainly alFecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their caryg amounts in the next financial year. 281Pag7e

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Accounting policies (continued) Ba513 of consolidation The knanciai statements. con5017date tho$e of the School and its wholly owned non-dwitable subsidiary trading comP￿y. Ihe King's School El). Ent￿rI￿Ls Limited. In accoraance fflth section 408 ul Companies ALt 2(K)6, no separate Statement of Financial ALtivities kns been presented for the School alone. The Consolidated Statement oFFitkninLial Actkviues (SOFA), the Consolidated Balance Sheet and the Consolidated Cash Flow Statement include the results oFthe khool and its su65idiary undertaking made up to 31 July 2023 and conbolidated on a line by line basis. Intra-group transactions and profits are eliminated fully on on$olidation. Unifonn accounting poliaes have been adopted acr05$ the Group. Income All income is recognised in the Consoliaated StstemerAt of Financial Activities when the conditions for receipt have been met and receipt is probable. Where a claim for repayment of income tax has or will be made, such income is ￿OSSed up for the tsx recoverable. The following accounting poli(ies are applied to itjcorne: Fees and other educational activities Fees reLEivable and charge5 For use oFpremise8 are accounted for in the year in Trvhich the service i5 provided. Registration Fees are aeeounted For on reLeipt. Fees receivable are ststed after deducting allowances, scholarships and other remissions granted by the ￿h0O1, but indtjde contributions reLeAved from Restricted Funds for Scholarships, bursaries and other ￿ants. Pa}mJents received respert of fulure Fees are deferred in Cre￿lOr5 and are released to the Statement of Financial Activities in the relevxnt terni. Fees in advance Future school fees may be paid to the School in ￿COrdanCe with a written contract. De￿81t$ are held in LTeditors and are rdeased to the Consohdatcd Statement of Financial Activities in the appropriate teill)) for whiLh school fees have beerk provided. Such deposits may be returned to the payer. subject to Teci&c condilion5. ALceptance deposits AceeFt3nce deposits are deposits placed when pupils join the School and are re￿nded at the end of the final term after deducting any outstanding debts. Deposits are held in creditors unlil retunded. "ilie Governor$ have re￿eWed the contract terms WLder which Pupil fce de￿&t￿ are held by tkLe School. Although under normal circLUJ)Stanees these will be repd over future years when the pupils Lomplete their education at the School, pupils can leave at earlier dates. The School does not therefore have an unconditional right to retain the individual deposit8 for at least 12 tnonths atter the b￿ance shcet date and. in line with the requiremen15 in FRS 102, the balance of the dePo￿ts held at 31 July 2023 have been induded within current liabilitie$. The prior year Pupil fee deposits balance has been Similarly represented. Other trading activities Chargcb lor non-educational 5ervice5 and use of premises and rentals are accounted for in the year in which the service is PTuvided. Charges for serrices prO￿ded by the Ki 's School Ely Entcrpri8es Limited aTe accounted for in the ytar in which the serTrrice is provided. Investment income Investment income 15 accoi]nted for when receivable. 291Page

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Accounting policies (continued) Donations Donations and all other receipts From fund-raising are reported gross and the related fund.raising costs are re￿rted in expen&'ture. Donations receivable For the general purpo$e$ of the School are credited to Unrestricted Funds. Donation5 for puryoses restrLctsd by the wishe5 of the donor are tthen to Restricted Funds where these ivishes are legally binding on the GovernoTS of The King'5 School Ely. Grants received Income Erom government and other ￿t5, whether 'capital' ￿anl$ or 'revenue ￿nts, is recognised when the charity has entitlement to the funds, any per£ortnance con&tions attached to the grants haye been met, it 15 probable that the income will be received and the amount can be measured reliably and is not deferred. Expenditure Expenditure is accrued as soon as a liability 1$ cnnsidered probable, discounted to present value for longer- term liabilities. ExFnditurc attributable to more thth one cost Lategory in the SOFA is apportioned to them on the basis of the estimated amount attributable to each activity in the year, ￿ther by reference to stalFtime or the use made of the underlying asset5, a$ ippropriate. Expenditure is allocated to expense headings on direct cost basis. The irrecoverable element of VAT is induded wlth the item of expense to which it relates. Raising fimds comprise the cost of sales OF the trading SUb￿aLary? King's School Ente￿riseS Liruited, urnrecovered dcbts for school lees and interest and charges in reTe¢t of the banking facility, loans, r￿JanCe arrangements and the inve5tmenl por￿0110. Expenditure is accounted for on an aLLrual basis. Charitable activities include all expenditwe dircctly rdated to the objeets o£the Schtsol, and 1$ iccounted for on an acerual basts. Governance costs eomprise the costs of running the School, induding strategic planning lor its fuwre development, also external audit, and any legal ad￿ce £or the Governors oFThe King'$ School Ely and all the costs of eomplw with constitutional and statutory requirements. Fund accounting TILe School maintains various types of funds as Follows: a) Restricted Funds Restricted fun& represent grants, donations and legacies received which are ￿Ven by the donor foT specific puTrose5. Income on these investsnents is also restricted by the donor. b) Unrestricted Funds DeSi￿ated fi￿dS comprise aTnoutsts set aside by the Governors for specific p￿Se$. General unrestricted fijnds repre%ent funds which are expendable ai the (h'screiion of the Governors in the furtherance OF the objecrs of thc School. Sucb Eunds Tnay bc held in Order to fmance both working (xpital and capital investtnent. 30IPauFe

THE KING'S SCHOOL ELY Company Registration Number 2*10509 Charity Number 802427 Accounting policies (continued) Tangible r￿ed assets I'angble r￿ed assets are stated at historic cost le$$ accumulateddepreciation whichAsproMdedin equal annual instalments over dic estimated uselid lives of the L%scts. Properties are maintained throughout the year and an impirment review L5 carried out on an annual ba￿. Cost includes the origitki purchase price of the assets and the costs attributable to brinwg the assct into its working condition for its intended use. No depreciation is charged on freehold land OT asset8 in the course of constructioll. Depreciation 1$ provided to write olythe L05t of all ielevant tangble fixed absets less estimated residual va]ue based on current R]]arket pi'ices. in equal annual instalments OVLr their expected u5¢ful economic lives &8 follows unless the period of any lease is shorter: Land Freehoia property Long leasehold property Eq￿pMent. Fixtures, fitting5, furniture and equipment Catering equi ment, teaching aids, mowers and implements Plant ana musical instruments Motoj. vehL'eles Computer equipment 2Vo on cost 2•10 - on tost 150/0 on cost 200/0 on cost IOO/o on cost 250/0 on cost 33Q/o on cost InYe5tments Listed investments are stated at the market c105ing price on 31 Ju]y 2023. Gains and losses are taken to the consolidated Statement ol Financial ACti￿tieS and are in accordance Mryth the Governors, investment policy explained ill the Annual Report. Investments in Subsidiary undertakings are stated at cost. ImpainDent review$ are performed where there ha5 been an I￿al¢￿tiOn ofimpairment. Stocks Stocks are stated at the lower of cost and net realisable value. Pension costs The School contributes lo the'l-eacher$' Pension DcPtned Benefits Scheme ai rates Set by the scheme actiiary and ad￿sed to the Governor$ by the Scheme AdDinistrator. The School also contributed to a defined contribution money purchase sehemes For ftOn-teach￿g staff. Contributions to both sd)emes are recognised in the consolidated Statement of'Financial ActI￿tieS. In addition, the School participates in the Pension5 Trust Growth Plan scheme For non-teaching statr. Further details oFpension costs are set out in note 17. Operating lease a￿eeMentS Renta15 under operaling Icases are charged on a straight-line basls over the lease term, even iFthe PaY￿ents are rLot madc on such a basis. Benefits received and receivablc as an incentive to SI￿ an oFrating lease are similarly spread on a straight-line basis over the lease term. 31 |PagFe

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Accounting policies (continued) Finance lease agreements Assets held under fuwice lease agreements are capitaiised and disclosed under tangible fixed assets at Cost less depreciation. The capital element of the fu￿re payments is treated as aliabiiity and the intcrest is charged to the Conso]idated Statement of Financial Activities on a reduciDg balance basis. Foreign currencies Transactiosjs in Foreigt) currencies aTe recorded Y4t the rate ruling at the date of the transacuon. MoThetary a55ets and liabaities held on the balance theet are translated at that date and any resultiDg gain or loss transferred to the Consolidated StateTtLent of Financial Artivities. Financial instruments The Kug's School Ely ha5 Fllwieial asgets and hnanLial liabilities of a kind that qualfy as basic f￿￿￿claI instruments. Basic fjnanoal instrLllnents are Initi￿lY reco￿$ta at transaction value and subsequently measured at amortised cost using the etTective interest method. Finanaal assets held at amortk5ed cost comprise cash and bank and in hand, together with trade and other debtor$, arkd accrued income. Financlal liabllities held at amoTtised ¢ost comprise bank loans and overdrafts, trade and other accruals. Investments, including ljonds held &8 part of an investrnent portfolio are held at fair value at the Balance Sheet datc. Ivith gains and 1055es being recognised within income and expenditure. Investments in subsidiary undertaLings are held at cost les5 ilnpairment. 321Pag7C

THE KING'S SCHOOL ELY Company RegistratAon Number 2440509 Charity Number 802427 2. Fees receivable 2022 The School's fee income comprised: Gross fees less.. scholarships less.. bursaries and allowances less.. commission 28,515,051 22,575,342 (319,766) (288,308) (2,229,603) (1,897.537) 282 724 168 628 25,682,958 20.220,869 Add back: scholarship$ and bursaries paid for by Restricted Funds 222 Grants, awards and pvizes from Restricted Funds comprised: Scholarships and bursaries Prize5 919 463 919 463 The above educatio￿ awards were made to 380 indivlduais (2022: 311). Scholarships 204 {2022: 236). Bursaries and allowances 245 (2022.. 224). 3. Trading activlties of subsidiary The School Company Regi8tration Number 2440509. h)s a wholly owned trading subsidiary whi& is incoryorated in England a￿a Wales, Compny Registration Nutnber 3561879, and Registered office: The King's School Ely, Barion Road, CB7 4DB. King's School Ely Ente￿ri￿eS Limited provides <xtering and conference 5ervi¢es. Thc Company donates its taxable proFJl5 under G&t Aid to The King's Sch()ol Ely. A summary af its trading results for the Year, &8 extracted from the audited f]nanciai staiement5, 15 shown beltsw, together with the School'$ own re$ults For the year to distinguish dLem from the group resdts in the conbolidated Statement of Financial Activities. Audited fllthnciai statements w]ll be filed with the Rcgstrar of Compani￿. Subsidiary 202 School 2023 02 l un)over Cost of sales: KSE Enterprises Ltd Gross profil.. KSE Entuprises Ltd AdtninistratiuTh.. KSE Ente￿riStS Ltd 'I"ax charge Other Income Invegtmeni income Feceivable Net income for the ye3r Gitt aid donation to The Sehool Gross income: School Costs oFchariiable activities Governance costs of the School Costs of raising Fund8.. School Net movement in funds Total assets 0£ subsldiary Total liabAlitie$ of subsidiary Total net assets of subsidiaTy 162,707 63,061 29,876.398 21,271,218 {22,823) 139,884 {59,359) (12,127) 5(1,934 (1.703) (246) 29.876.398 21,271.218 230,0*8 152,375 30,258,821 80,525 30,339,346 21,41M).195 (2S.088,50D (20,?65,474) {36,751) {26,858) (192,439) 287 806 5,021,649 68,548 80,S25 (80,525) 21 351 210 204,866 (204,766) loo 96,891 331Pagye

THE KING'S SCHOOL ELY Company Registration Number 24405(Y) Charity Number 802427 4. Other income 202 Ancillary trading activities Re￿StratiOn Eees Trips and minibus income Surcharge on latc ￿yMent of fees Rental income Sundry iThcome Erasmus Grant Group total 92,238 751,397 67,824 562,671 369 36,596 401,811 80,290 571,042 1 78420 1097 952 Donations Grants received {inaudes amounts payablc under the Coronav￿Us Job Retention Scheme and Busines5 Interruption Payments) 23 S. Investment income 20 2022 Income from investments Bank Interest receivable for the Sehool Total Group 2,289 150,086 154 11.290 6. Analysis of expenditure ta 2022 Stsff costs ther De eciaiion 202 Costs of raising funds Financing c05t$ for the School Financing costs for the subsidiar). Total for the School Trading c05l$ for the subsidiary Total for the Group 192,439 52 192,439 52 287.806 53 40,803 23 40,803 14,023 30 233 294 J&L2 Fundraising & Development Investment Management Fee Educational activities 'reaching 11,897.670 Welfare IIK).275 Premises 483 Support costs of Schooling School's operating costs Granls, awards and pri7.es 17 Total for the Group JILL65 760 656 1,5M.254 868, 141 2,263,936 13,MI,924 10,376,323 968,416 2,130,464 2.685,877 4,407,719 421,458 751 161 25 055 687 1 17316 302 341Pagyc

THE KING'S SCHOOL ELY Company RegAStration Number 2440509 Charity Number 802427 Analysis of expenditure (continued) duded within the support costs above are Governance costs of: 202 202 External Audit and Accountancy $ervices School External Audit and Accountancy 5crnices Subsidiary Governors, eyenses for the School 36,701 6,300 1,920 26,755 1,200 103 Total School Tota] Group 05 7. Employee information 202 Total staff costs comprises: Wages and salarxes Social security Costs Othcr pension costs Subtota Employee benefAts in kind paid Total Stsff Costs 13.752,154 11,249.557 1,361,315 1,104,609 2,229,896 1 945 418 17.343,365 14,299,584 The average number of eD]ployees in the year was.. 023 274 82 72 41 469 2022 214 63 71 39 387 Teaching and support WelFare Premises Support staff Total for the School and Group The nurober of ettlployees employed by the subsidiary was nil (2022: ￿). Neither the Governors of The King's School Ely nor persons connccted with them reC￿ved any remuneration or other benefits from the School. Expenses totalling £50 (2022.. £103> incurred in performing their duties were reimbursed to one {2022.. one) GoYernoT. During the year redundancy paytnents of £11,270 (2022: Dil) and ppents under setdement agreemeTht8 OF £87,181 {2022-. £40,000) weTe made. 351Pagye

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Employee information (Continued) The number of higher wd employces was: 20 2022 Taxable emoluments band: £ 60,000 - £ 69,999 £ 70,000 - £ 79,999 £ 80,000 - £ 89,999 £160,000- £169,999 £170,000- £179,999 io Total remunerauon paid to key nianagement perso[￿tI 2023.. £1,771,288 {2022.. £1, 373,H5) Total pension contributions paid on behalFot key personnel 2023.. £290,247 <2022.. £227,051) 2022 The number with retirement benefits accruing in: - MoThcy purchase schemes was for which the contributions amounted to - Der￿ed benefit scheme was For whid] the contrAbution$ amounied to 243 187 £580.278 £519,352 168 139 £1,689.920 £1,438,130 8. Tangible fixed assets In March 201 I the current market Yalue oFthe leased and Freehold properties, excluding the freehold and reFurbi%hment COSts of the Old Palac'e, was £20,875,000. The net book value of assets used for the adMin￿tration of the L]Jarily is ins¥nificant. Freehold rt Leasehold ro ro men tot21 Cost or valuation At l August 2022 Additions Dl4)osals TransFer from Fair5tead At 31 July 2023 Accuniulated depreciation At l Au￿￿( 2022 charge for thc year On disposals TransfLrs At 31]uly 2023 Net book value At 31 July 2023 At 31 July 2022 Included in fixed assets above are assets purchased on finaDce lease costing £453,954 (2022.. £453,954), wAth a net book value. of £91,567 (2022: LI 69.322) after chargitjg depreciation of £362,387 (2022= £284,632). 12,735,363 406,292 8,283,192 583,441 8,571,+$0 29.589,995 445,985 1,435,718 {46,830) (46,1130) 547 382 2 602 486 9 $17 977 33 581 369 2 000 OOD 15 141 655 8 921 737 5,636,179 295,103 2,595,470 167,947 5,816,455 14.048,104 710,111 1,173,161 (46.830) {46,830) 315 524 369 153 6 795 260 15 543 58 5 931 282 2 817 046 9 210 373 7 099 184 6 104 692 5 687 722 2 722 717 18 037 782 2 754 985 15 541 891 361Pa Lyc

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 9. Fixed Asset investments group Unrestricted Restricted Funds Total Valuation at l August 2022 Additi¢)ns at cust Disposals at carrying value Investment managers lees deducted direcdy from portfo]io Net increase in cash Net Net unrealised reYaluations/(losses) Valuation at 31 July 2023 3 910 737 81 4012 084 (15,126) (39,656) 6,281 102 (15,1261 (39,656) 6,281 102 129 293 Historical cost at 31 July 2023 1889 636 School The School also has a lo￿10 holding of 100 orduwy shares OE £1 er4ch in Ki￿,5 School Ely Ente￿riSeS Limited, a limited company ineorpnrated and registered in England and Walcs 10. Stocks 2023 2022 TeaL Catcring and donkestic provisions resources 24,321 511 17,906 371Pagve

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 I l. Debtors Grou scho rou School 2022 202 022 Amounts falllng due within one year: School fees Amounts due from Sub&diary Trade debtors Rent foregone on Capitular Properiies PrePa￿ents and actrued incoEtLe 332,343 332,343 197.267 64,985 7S,014 75,014 90,403 75,111 27,501 21.632 432 688 21,632 432 688 721 776 ITh 1989 atL ￿reement was entered into between thc Schoc>l and the Dean and Chapter of the Ely Cathedral whereby the fjnance required to renovate the four capitular properties occupied For many vears b) the School would be provided to the Dean and Chapter by the School. This advance. and the intere$l cost5 borne by the School oFthe bank loan to f￿ance it, wa$ repayible by the Dean and Chapter by it foregoing annual rent aThd under a tem of the agrwnent, any part OF the advance not repaid by Au￿st 2024 would be forgiven by the School. In July 2011 utkder a Lelter OF Agreement it was agreed that School reduce Chapter's liability to repay the loan by reducing the ba1￿ce by 400/0 in September 2011, a furiher 4￿/ll iri September 2015 and to eyutkgt the remaining 209/0 in September 2024, in Lonsideration of any rent re￿e￿8 being waived and the annual rent being a￿eed until 2024. The net benefit ol the reduced rents to the School is shown as rent foregone on capitular propert&es. 12. Creditors: amounts falling due within one year School 2023 Grou 2022 Scho 2022 Bank loans Obligations under Pll]aThce leases Trade creditors Other taxation ￿la social secu Payments received on account of future Eees Pension contributions payable Acceptance de￿51t$ Other creditors ana accruils AdvanLE fees 275,012 91,567 301,165 336,189 640.072 281.016 3.166.751 525,569 359 092 975 275,012 91,567 301,165 336,189 640,072 281,016 3.166,7SI 518,069 264,666 88,739 113,522 289,665 897,547 244,264 2,636,078 332,904 264,666 88,739 113,522 289,665 897,547 244,264 2.636,078 326,5 16 330 525 38IPa&ve

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 13. Creditors: amounts falling due after niore than one year 2022 Bank loans Obligations wider finance leases Advance fees PenSAons scheme deficit 4,521,800 4,797,521 91,567 516,280 440,065 Following the Bank loan restJucture in Au￿t 2017 the follow agreements haye been entered intu: Two agreements at £2.75m eadL at a fixed inierest rate 012.940/0 over 10 years on the basis OF • 20 year repawent profde pyable quarterly (£183,312 per annum per loan). Oue agreement OE £686,425 at a PLxed interest rate of 2.66f/*Lb over 10 year$ on the basis OF a 20 year repawent proflle Pa￿ble quarterly (£45.832 per annum>. Thc loans we secured by legal d)arge5 on a number of owned properties to ensure loan Security of £1 1.000.000. Grou 20 Bank Loans Capital Due after five years Due within two to R ve years Due within one to two years 3,945,766 292,199 283 835 4,S21,8(K) 275 012 4796 812 3,945,766 576,034 275 721 4,797,521 Due within one year 5 062 187 Obligatiou$ under fillance leases Due Mrythin one to two years 91,567 Due Tryithin onc yeaT Total 391Pagye

THE KtNG'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Fe¢$ in advance under contract 20 2022 Due after five years Due WAthin two to five years Due within one to two years 79,170 176,308 184 587 440.065 107,574 199,953 516,280 Due within one year The MoVe￿ents during the year Tvere: ance ai l August 2022 New deposits Amount of diseount ￿VeTh 846,805 707,347 917,088 586,496 1.565,151 (23.769) 742 225 7Y 1,516,950 (58,636) 611 509 Refunds Amounts utilised school Fees to the School Balance at 31 July 2023 14. Net assets ofthe funds of School and Group The School's net assets relate to the various funds aq follows: As at 31 July 2023: Tangible Investments fixed assets Net current Net long ter assets/ a$3ets/ (liabilities) (liabilities) Fund balances RestriLted funds Unrestricted Funds 79,646 458,123 641 117 537,769 18 18 037782 17 18 School Subsithary's reserves Group 18.037,782 4,093,078 1,099,240 (4.980,008) 18,250,092 A8 at 31 July 2022: Tangible Investments fixed assets Net current Net long term assets/ asset$/ (liabillties) (liabilities) Fund balances Restricted fimds Unrestricted fund5 School Subsidj'ary's reserves Group 81,347 458,123 539,470 541 15,541,891 +,012,184 l(K) (959,217) i(M) 17 (5,435,715) 13.159,143 40IPauTe

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 IS. Movement in restricted funds Restricted h]nds comprise the follow L￿ever1dea donations and grants ￿Ven for specific p￿0$es.. IAU 022 Income 2023 Restrirted donations Scho12r5hips and bursarkes Erasmus clara Taylor School prizes 211,935 171,502 98,919 20,877 237 211,935 170,552 98,919 22,298 (950) 83,453 (83,453) ,421 School prizes and scholarship fimds represent a nUTnbcr of individually low value Fund5 donated to the School for usc toward&. prizes and ScI￿lar￿h1ps. These fwids are represented by inYeslment5 in the Charitie5 OfGcial Investsnent Furld income shares. Income from these $hare5 is brought into the Statement of Financial Activities as restricted income. A generous donation in rttemory of Clara Taylor was received 2011 and 2012. The Clara Taylor Muskc Award s given to ellable talentcd pupil$ with musiixl excellence the oP￿rtUnitY to extend their 5tudiey. For cornparisan, the prior year restricted funds compri5cd the following.. I Sc ieni er 2021 fers diture 2022 Restricted donations Scholarsh]ps and bursaries Erdsmus Llara Taylor School prizes 386.956 {175.021) 5,680 211,935 1,268 (259) (919} 171,502 165.732 89,376 20,877 28,681 (19,138} 98.919 20.877 463 16. Movement in unrestricted funds Unresirictea fimds comprisc the folloThvitig: 41 |Pagie

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 IAU 2022 )en&ture Transfers 31 uI-2023 Fees in advance General fund Total school Non-charitable Total group 846,805 718,346 (765,994) 1177286 29 457 022 110 199 25 507 448 12,619,670 30.175,368 110,199 (25.273,442) 162 707 12 619 670 30 338 075 110 199 799,157 16 913 166 17,712,323 25 355 624 17 712 323 For cornparison, the prior year UDrestricted fLm& comprised the following.. I Se t ber 2021 Ex enditure Inco ain Transfer 31 Fees iD advance Fee donations General fund Total school Non.charitable Total group 917,088 (670,145) 68,709 (68,709) 10 573 821 20 769 380 &LL4 19 869 749 11,559.618 21,369,242 85,584 {20.608,603) 63 11 559 618 21 432 30 599,862 846,805 213 829 213,829 11 772 865 12.619,670 20 622 679 164 12 619 670 17. Pension Scheme The School participates in the Tcachers, Pension kheme ¢the TPS) for its teaching thtr. The pension charge lor the year indudes contributions payable to the TPS of £1.698.744 (2022.. £1,438,130) and at the year-end £202,160 (2022 - £173,238) wa5 aLcrued in respect of CODtributioDS to this scheme. The 'fps is unfunded multi-employer defined benefits perjsion scheme governed by The'l'eathers Pensions Regulatiuns 2010 (as amended) and The Tcachers, Pension Scheme Regulations 2014 (as amcThded). Members contribute on a'J)ay as you go basis eoniributions frorn members and thc eynployer being credited to thc ExChe￿er. Retirement and othcr pension benefits are p￿d by public funds provided hy Parliament. The employer contribution rate 1$ set by the Secretary of State following Scheme valuations undertaken by the Governmeni Actuary's Departhient. The m05t rewxl actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. Folloiving the MLCloud judgement. the remedy proposed that when beneflt b¥come pyablc, eligible members can seleLt to receive them from ￿ther the rdurmed or Itgacy schernes for the period I April 2015 to 3 1 Mareh 2022. The artuaTiCb have assumed that TThembers are likely to choose the option that pro￿deS them wid] the ￿t￿ter beDefits, and in preparing the 2020 valuation have valued the 'greater value benefits Eur group5 of raevant members. The valuation cokned that the employer contribution Tate for the TPS would incrcase frnm 23.60/0 to 28.60/0 from l April 2024. Employers are also requirea to pay a scheme administration ley OE 0.080/0 gving a total employer coniribution OF 28.68Yo. The Pensions Trust- The Growth Plan 421Pagye

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 The compuly participates in the scheme, a multi-employer scheme which wovides benefits to somc 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possthle for the company to obtain SU￿1Clent information to enable it to account for the scheme as a defined benefit scheme. ThereFore, it accounts For the scheme a5 a defmed contribution scheme. The wheme is subject to the funding legslation outlined in the Pensions Act 2004 which came I￿t0 force on 30 Decen)ber 2005. Thib, together with document5 issued by the Pensions Regnllator and Tccl)wcal Actuarial Standards issued by the Fknancial Reporting Council. set out the framework For funding dcRned benefit occupational perlsion scheme$ in the UK. The scheme is classified as a'last-man standing arrangement,. Therefore, the company is potentially liable for other participating employers, obligauons if thuse employers are unable to meet their share of the scheme defiat following Mqthdrawal from the scheme. Participting employers are le¥￿Y required to meet their share of the scheme deficit on an annuity purchase b&si5 un withdrawal from the scheme. A full actuariat valuation lor the scheme w&8 carried out ai 30 September 2020. Thi5 valuation showed assets of £800.3tn, liabilities of £831.9m atLd a deReit of £31.6m. 'I'o eliminate this fundll¥ shortfall, the Trustee ha$ asked the participating employers lo pay addiuonal contributions to the scheme as Eollows.. Deficit contributions From l April 2019 to 31 january 20?5.. 3,3]2,(￿ per an￿llM (EA¥ibJ¢ moDihly Unle55 a concession been agreed with the Trusttt the term to 31 January 2025 applies. The recovery plan contributions are allocated to each participating employer in liue with d￿1r estimated share of the Series l and Series 2 scheme liabilitie8. where the stheme is in deficit and where the company has agreed tu a deficit fi]nding arrangement the company recog nises a liability for thi8 obligation. The amowil recowed is the net present value of the deFACit reduction contributions payable under the ayeement that relates to the deficit. The present value is caladated using the discL)unt rate detailed in these ai$closurcs. The Unwind￿ of the discount rate is recow5ed as a f￿￿nCe cost. Present Value of Provi3ion 2023 £O¢M)5 2022 2021 £O(MJs 30 137 Present value oEwuvision 18 2013 2022 £(X)Os Reconciliation of Ope￿ng and C105iDg Provision8 Provisiun at start OF year Unmqnding of the dkscouni factor (inierest eyense) Deficit contribution paid 30 137 (12) (30) 431Pa¥e

THE KtNG'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Retne05urements - impact of any change in asbumptions Remea5urement¥ - amendmenls to the contribution schedde {1) (i) (77) 30 FrO￿$10n at end of year 18 2023 £0005 2022 £￿0S Income and Expenditure Impact Interest expense RemeasuTeTnents- impact of any change in as5UTnptions (1) (78) 31 July 2022 31 AU￿$t 2021 ¥0 per annwn Assumptions 31 July 2023 /0 per annum YD per w]num Rate of (b'5ctsiint 5.98 3.15 0.57 'Ll)e discount rates shown above are the wvalent single discount rates which, when used tu discountthe tUTe recovery plan contributions due, would give the same results as using a full AA cowrate bond yield awve ts discount the same recovcry plan contributions. 18. Financial commitments At 31 July 2023. the School and Group had totsl comtDithients under non-tancellable operating leases as follow5.. 2023 20 Other Land and tand and Failing due within one year Falling due one to tsvo years Fall￿g due two to five years Falling due after than five years Total 241, 369 241,369 716,106 5 536 892 6 735 736 168,877 104,104 74,098 198,802 98,802 280.406 2 428 418 300642 155,929 91,156 82.139 356 354 The total rentals under operating l¢ases, charged as an cxpense in the Ststemenl of Financial Attiiities. were.. 2022 Land aDd buildings Equipment Total 163,809 99 263 119 202,899 At 31 July 2023. the School and Group had contracLea capital expenditure o(£1,229,929 (2022: £384,324). 441Pabye

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 19. Reconciliation of net incoming resources to net cash inflow from operating activities 2023 2022 Net income Elimination of non-operating cash flows - Rent foregone by knLdlord - Investment income - Finance costs Der￿ed pension scheme adJ'uslmeDt Depreciation charge Los5/(Profil) on di$￿saI of assets Decrease/{increase) in &btors & stock Increa5c/{decrea5e) creditors (excluding FIA) {Decrea8e)/increw in F.l.A cre&tors Trallsfer of assets and liabliities as a result ofmerger Oess (ash tran8Ferred) Net cash inllow from operating activities 4,982.451 820,057 39,0(Ki (11,4441 287,806 (28,716) 974,411 120,2(K> (275.984) 346,813 (70.283) (152,375) 192,439 (11,857) 1,173,161 (581,460) 746,H5 (47,648) 2 613 638 20. Movement in net (debt)/ca8h Cash flow 31 2022 Cab'h at bank and in haTLd Debt due after one year Debt due within one year Total debi (4.797..521) 26 66 (5.062,) 87) 275,72 1 (4,521,8(K)) 265,375 (4.796,812) Net debt 45￿Pa&Fe

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 21. Related party transactions The Schoul has a number ofre]ated party transartions wlth the chapter of Ely Cathedral. In the year the Chapter contributed £157,409 {2022.. £165,211) towar& the cost of educating the Caihedral Choristers. 'rhe School supported Chorisiers and tx ChoTi5ters with £434,408 (2022.. £302,2119) of bursary assistancc towards school fees. The School paid to thc Chapter £39,102 {2022: £39,102) in rents. including rent for the cap itular properties. The De¥n of Ely is an ex-offiao member of the Board OF Governors and there are two dditional Chapter OE Ely Representa13ve Governors. During the year the Schuol hdd investmeDts with Cazenove Capital Management Limited, OF which Governor of KiDg's Ely David Day is a privtte client. Chris Meddle, a Governor of King's Ely, has deLlared his and his son's partner were both employed by the school as a Teacher ul Sport and a -reacher of Arr reS￿CtiVelY before he started a Governor. Their contrarts and remuneration ore a]igned the standards for the role5 undertaken. The School charged £41,327 (2022.. £nil) to Enteryrises for the provision OF facih'ties and admini$tritive services. The balance owed to the School as at 31 July 2023 was £197.267 (2022 £90,403). 461Pagye

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 23 . Transfer of assets and liabilities On the 5 Auwt 2022 Fairstead House School TTilSt Lithited (Registered Company Nwnber 01391805, Charity Number 276787) transferred all assets and liabA]ities over to The King's Sthool Eiy. The following table shows the fair value of assets and liabilities tran5Ferred to The King's School, Ely from Fairstead House School Trust Limited: 2022 Fixed Assets Fixed As5Ct Investtnenis 2,233.333 324 977 2 558 310 Current Assets Cash at Bank Debtors 196.779 Creditors Amount Falling Due Within One Year 57 Net current ￿set5 Total Net Assets 55 471PagFe

THE KING'S SCHOOL ELY Compny Registration Number 2440509 Charity Number 802427 23 . Comparative inforniation Consolidated Statement of Financial Activities Incorporating an Ineome and Expenditure acLOUnt for the period ended 31 July 2022 Unrestrirted Restricted -1 otal 202 2022 Income Charitable artivities Fees receivable kncillary trading iDc¢ime DonatioD$ and Legacies Other trading activities Non anci]lary trading income Other income Investments tnvestment income 20,222,251 1,069,271 68,548 20,222,251 1,097,952 6B,S48 18,202,901 612,009 776,829 28.681 63,061 63,061 20,131 9,005 9,172 2,272 11,4M 28,804 Total income Expenditure on: Raising funds Non-ancillary trading Financing cost Inve.%tment management costs Fw)draisiThg & development Total deductible costs 14,076 287,806 37,987 760 340.629 14,076 287,806 37,987 760 340,629 12,308 24S.482 40,567 299,703 Charitable activities Education 20 20 282 050 2 302 570 19 133 599 Total expenditure 20 622 679 Net (Expenditure)/ln¢ome before investment (losse5)/gains 809,624 10,433 820,057 216,377 Gains/Ousses)/on investments Transferb between funds 7,720 164 (899) 6,371 622.874 Net (Expenditure)/lncom¢ for the year 879.251 481Pagye

THE KING'S SCHOOL ELY Company Registration Number 2440509 Charity Number 802427 Resources expended Total 2022 StatT eo$ts De reciation 2021 Costs of generating funds Financing Losts for the School Financing costs For the Subsidiary Trading costs for the subsidiary Total for the Group 287.806 53 287,806 53 245,482 56 301 882 257 790 Fundraising & Development Investment Management Fee Educational activities Teaching 9,521,783 Welfare 1,379,045 Premises 1.604,910 Support costs Of schooling 1 793 846 School's operating costs 14 299 584 Grants, awar& and pri£es 14 Total for the Group ￿584 708,984 729,684 9,063,017 1 506 370 5 008 055 520 5 028 575 145,556 21,735 739,792 10,376,323 2, 130,464 4,407,719 336754 20 2112 050 9,932,050 1,890,659 4,158,313 3 152 986 19 134 (K)8 409 19 133 599 Ineluded within the support costs above aTe Governance costs of: 2021 Extcrnal iudit and AccOL￿tancY servAces 2021-22 khool.. Audit tee and Accountang service Subsidiary.. Governors wenses for the School: Professional Fees School= Professional Fees Subsidiary: 26,755 1,200 103 31,440 2,220 1,779 Total School Totsl Group 8S8 491Pasye