charhy. Regtstratlon'Na IU0641 £•mpary R•lralion N•. 03134841 (E14"4d Wa1•81 'THÉ KING'S SCHOOL, GLOUCESTER GOVERNORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ACIXCXOA* 2W1212023 COMPANIES HOUSE 32
THE. KING'S SCHOOL, GLOUCESTER 'L'EGAL AND At)MINiSTRATIVE iP4F(iRMATION Vlsltor Lord Bth!p of Gh>u$t# IGovernors Ihe"- 1. Njthy {ex-off0) MrA.T. Brett Mr P. DarKey ((ts'M of G0veffw)j M. 11 Th8 R•4erwJ Can.1iJA IffIc?.) I1red .Mts S. Lthis ~Mr M: Dunkl Mr IA_ Watson Mr S. amv. Is D. kne5.TLrriM r P. Gordon MrA. Mtic Rev8r8TrJ Cwn fir. A BBdd¢¢k18X-olfwl (Rtired 81tr Jar#Jary 3)231 Mr Fis. DhalA i$s FL Jackson lapriowtta122 V8mber.2O2 RTwerbJ'C8non R. Lk*yd If$clO lappotnt¢d 30th Crlober 22) Th8 Rerend Cwon A. lex<+fficioJ l¥ppoirit•d ?yd Apnl 20231
THE KING'S SCHOOL. GLOUCESTER. LEGAL AND ADMINISTRATIVE INFORMATION Officws 'The MaSter Mr D.Qk Morton. B.A.. P.G.C.E. Th• Deputy Heads Mr. A. Smith. Ai.Ed.- B.. P.G.C.E.. ISeThor Doputy &. Ac&lemtcl Mr5 M. Ptyltsps BA.. P.G.C.E..(Pa5toTall. J. Collirns. BA IFbr&X P.G.C.É. {Staf!) A. B. Prim.Èd. H8ad'of Juroor Sclhjol 'The BU and Compwy r64ary Mr L Griffrths MEro.. CETrJ.. FNéclE. Charfty nMb•r. "C¢impany nbIl Pylndpal aiidress pitt Str8 GIO9$fBr Registered office "Pitt Street .Gk)tt¢est "GL1 2BG Aijditor '.CroE U.K: IIP Sl Jame5 Fbiise "St Jarnes. Squ Chettvfftm tsW3P.R .Lloyds TSB Bwk Pk .Eastgat8 SI¥[ GIDuce5t GLI INU .Solldtors Harrison Rickerby5 Ltd. EllerknoroLh trb)e .WelliThJton St cht GLgJ .IYD
THE KING'S SCH.QOL. GLOUCESTER CONTENTS Annual R•port ¢fthg Dlr•¢tors.' Rep Stratagic Report IndeIl.dent Audltorf$ Poptsrt .12 14 Coiwlldated Stateffl•hl ol FInand ti*S 15 Balaiice. Sheets 16 cls011dtt Cash Aow Stat•meiit 18-34
THE KING'S SCHOOL, GLOUCESTER ANNUAL REP¢IRT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2023 The fflerrtsers of The Klng's Sct¥>ol. GkIw$ler prE5enl thelr Report forthe year enLled 31 July 202 3 uThJef thé Chariknes Act 2011 •Trd Compxes Acl %J)6. irKltJJing the Oirecto. Report aTrJ StsatgJlc Report the 2006 Act. toglwTAith •Aiied fInala stalert$ lor the yw. DIRECTORS, REPORT stath•s and Admlnlstrlofi The King's School. GJoTxestervras establish by Heryy Wll byststute in 1541 follDwNJ the dissohjh.on oftr rnonast8ri85. The School had ori91rly COrliEuted as 8 chawity (r. 3117451 jer a scherne framed by the Board of Educalion underthe ETrJowed Sclw)ol Acts. 1869. 1873 IB74. The scheme was appl0v by His Me4esty Kirg Geooe V by way ot Order of COUrr dated JY 1928. The School Is a charfty IrKJ. 108W11 aThJ was irtorporkni as a limited corypany byguarantee (no. 038348411 on 26 August 1999. The 855et$ an(1 Uabllltiès of the old ch"ty Iitre Iransfened lo Ihe charity on 1 Septernbw 2LW. Resirid¢d Fld5 to a Ilnk&J chty. Kmg's SclKJoI Pil22 and SchoQ8rship Fund {charity no. 1080641_11 aryl indudad *7trun the School financi statEffient$ as a r•stJicled luryj. The Govemors. %•kn are also dire¢tots for pttypo$e5 of compary I. knt#) serv&J dlrrirg year We.. The RevereThJ Canon Arthy" A. T. B¥ett' M. Hurrdl - K.Wyrnan•'# The ReVed Cwn biJA. Mitchdl- M. Dunkley # S. Lews- . Watsgn- S. MerKlei • ' D. Innes-Tumill P. Gordon ' A. Mitchell - Fi - H. Jackson" The Reverend CartrM R. Lloyd The Reverg)d CaTh)n Dr. A Br&iYock The ReverwHI Cn A. ' Member of Finance & Gen PU0585 Comnytlee
Member of the Strttegie IAarketir#J & Ddopfflent Cornmittee
A Member of NDminatr)ns Cornmittee - mts•r of the EdLtiOn & Comp1Kr¢ Commili¢¢ + Réttrtd by rotation and re-appoithj at Amud Gerrnl Meeliro Strucr& Goveman¢e Managernenl The SohcoI1$ 9ovemed by Its merroTawUrn aTrJ ArliGl8s of A8SOGk4tio7. last aMJed on 20 November 21hf. Ihe G0vem0. a also taguirgj wwjer Arttle5 to seThe as members of thè Selwl. We e*ted at lull GovemoF5 rnaetiryj on th? b¥15 gf rnminah"on5
THE KING'S SCHOOL, GLOUCESTER
ANNUAL REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
The GovemSng Body $haN not be less than 12 ènd nol rn0 than 21 is comprfsod of rtMOr•thaft 6 •x-
offlao G0veNlS.ho$hall be the Dean OftheGbLWterCattdra] aThJ lt more than 5 Residenliary Canons
or the Cathedrnl. ex-offitso GoverrxY5 s1 hold ottti by Virt ol tsw"r R$Ptive office5.
The baianG¢ of the fvethrvJ 3ody comprfses of G0vem. one4trird of l)ith rt11 at thè s¢01.$ AnThJal
GwEral Meding. A retiring GovttTh)r is eligible to sland for re-electigrL
The Govermrs meet as a Boanj at 18ast thee tirnes a yw 10 dat&MI the gerrnl policy of theschool ar(1
to revlew Its overall rnarogemenl aNI ojntroi. for ltsy a responsible. Th&E t¢ur key 5ub-
comrnitteesto the Governing Body, Ih•firsi of fv5e comftttees as listed bdow meetat least thrEe tirnes
a year, predIng Ihe 8oad ol GovenTh)rs rneetiws. to rwcrt to Ihe Go¥erroThJ Body..
The FiTwce & GitAI Purposès Cornmhtee scruliThses levèl. the bLAlget, Clta1 expendltLKe aTrJ
monitols ts eststés dweknprwwt prOgmMe and gen rnaance VK)rks. This Committee also
supervises arml finalses the fina1¥1 statemarts anrwjal report f¢rappVal by the Sjvemiry
Body.
The strat•9 MaFketiry Devthprrth C•mfflittee the Ove markdirvj rads of th•
Schoolto In5W? thai StrategE5 e in plxe lorpLpI r&rUitrne retention. The Committeè also
considars propOsS for capita developrnt monitots capita buadiftg projecis.
The Edwation aThJ compl1w8 thrnmiltee consJer5 rnr5 Teln9 to the School's a¢aJemic.
curri¢ular Past¢ prD¥ision togellr ith a mOlO[lryJ and tt)•oidinaiing lola relating b)
eompfiance VAth rÈgu18tory staThlard$ d othw legislalNe requKernerts.
The NomÈnations Committee CO1S skils TAthwi ts ¥eMIlY4 Body and actwe
seeks to r¢cnJit nvw Govemots ¢0 the Sch)oL
Tho d8y to day njrmirfj of tr• Sth)ol is ddwed lo the supportgj by Senior MarHggm8nt
Tèam. The Headmaster and Bursar atter¥J all meetings.
Remurwdt)n Is set by Board follo by FknaKE Cormiittee lo en58 thal an
4)proprfate salary 5c 15 in pe. This I1{Je5 comparison afbd lo any thant bChMa[king
d Stlary surveys awlable lorthe sectorlo enswe the S¢01 remns sensitiveto baderi$se$ of pay
and ernploymt corn¥"0n$ dseAwe.
The Kkng's st01 al lo recNrt h.gh caltbre staff to defN8r a wlde yed CUry1m to 1 our pupli >
Delivery ot ts Schoofs cltable Objects is depeThJerrt on ow man&Jem&rt positi.ons.
Govemoys a appoirLtFd at a rnEElirvJ of lbe[S on Ehe basis of matn5 received from Gov¢mor5 arKI
tha Head of K¥y's School. Gloucastw. foIbMi aged specificatws con¢emir¥J dvJfoilty. person
compeience, spetsa1tstSkls aTrJ local avajiasfjity. The prncess is by the Nomlnattorts Committee.
¥Y t>)¥¢rr¥Jrs orkipJs Ofitssdor. ar#1 I1CompY * a rtyister8d charfty. indudrffj
Board Poli¢y and Procedu by aTrJ BLWW. 0LSe reyar strateg a1 trLks¢¢e4rairyng
wortshops lor am &)¥emors.
SInttl 8rAI
Serto EntriSeS mitd isa Yhjlty rYJn
THE KING'S SCHOOL, GLOUCESTER ANNUAL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 JULY2023 The King's S¢ho¢l. &oUtsr ts a Head5 Confwerce {FNCI S01.. +thIC extsls to serye support ts members, to Fepfe5ent thwr to eXP1rfY exG81wKe ir¢ at•oft. k ts 4so a rnernber of the Cholr Sctr¥Jols Assoaationwtsth is agr0 of schoo&attactdto catwrals. ct4Jrches coilegechapels ar01 th8 Colmtry enablry ch)iisls to IAve ljnfthj access to a fwst-class sc011ng Mlca training. giv thorn oxcg11ont start in life. Thg SC0[ is Iso a mwrer of the kndepeThYent Associationol Prep S¢hocl IIAPSI, a body %vhi¢h exists to r4)rnst leattiw prnp SCI01$ in thÈ LK arAI ovetseas and supports trn in achtevirKJ excdlence in e¢[n and care. Objectlve4 and ktlyities ble Ob ect The School's Objects. as set OLrt in tts tsf Associ10. arethe a8v¥eMent of edu¢ation of PLknlic. thIn thg rIarIng 01 EThJlL%h la44. e based on Cthurth of Er¥Jland principles. to provide such pupils V+ith spiritual. rnoral. mertsl 8rl physcal training. wttln Ihese th]ts. the School also has to create and adrniThster sclK)larships. exh"bitions bUarles. BenÈfit Ai Intended In meetSng these obpcis. the SCoI.s PLblic ben8fit avn is to provijè a first class iTrJepeThYert educatiar boih Itffough strong em¢c tLutN)n. aTrJ Ihrough dwttopiro vjider sporting. arttstic and social skius in all its pupils. Ths is intend88 to provide enVtronmI ¥Ire each pupil can develop and fulfil hs orhw pol4ntk thus help to b¢Jild sell-¢oirf¥Jefice aTrJ inr4JGatE desi to contribute to tt wder commLmlly. In FUrt1[arKe of these ain5 the GoVerr$. as ¢kwity govemors.havè Complied vAth duty in s.17. of Ihe ritkes Act 2011 lo havg due rwJard lo the Clwrity Commiss.$ prtjlisw gereral arA relevart sub 4ector guidance con¢emiTrJ the upwation of Pth1 Benefit wuirem& uerthe Aet. Thts year. the value ol s¢holar5h"ps arKI cthw a5 to Ihe SGh)ol's pup$ OLrtol tsnrestricie&J funds tolallgJ £1.554,442 (2Q22.. £1.420,388). The GoverThJ. policy. in line knilh that of olher Indepderrt SclJols. is b make Ise &Yards on the basi5 of the indIdual,$ Uc8t)nJ potentk. As a CtrniTSchool a furthw £205.3J2 f2022' £188,725) was awafttÈd in Se)1a¥s>pS by &)¥e[S to support Ihe education of Ihe Choristw¥ of Gloucester CathedRI. Further awards of £622.717 12022. £517.925) in bwsaies rnèse from wwes1rled ILryls, whre the aim is to rEheve h$lip or provKle fFnWcI support forthe pw)H's e11 8rKI futu pffjspe¢ts. The availablllty of ai such awards fOrfesSi51arce. togettrw ¥th the toms aKI coTrlition5 of exh kiTrd of award. is adverbsed on our website at VAW4.ttiTrJssthool.¢o.uk. ST ATEMENT OF GOVERNORS, RESPONSIBIL lEs The Govemor5 (1 ore abo direclors of The KiryJ's Sch)ol. GlowEsterforthe purposas of CLynpy lawl ar8 rEsponsible for preparing the Gov¢ynor%' AfinL Report arKI the siements rn accort5ance wilh appli¢able law ar1 Uniled KiThJdom Gener4ty Accepted Accowthrg Procti¢e (United Kingdom Accowtirq Stsndards). Company law B]uires ihe Govemots to prepare IarrI st8lernerts forexh financial y¥r. lthdgr compary law Govemor5 must rt approvethe fina¥31 stemÈnts they arv satisfd that they gwe a tnJ8 and fa4rviOI thèstaie of affaits ofthe chantabkcompany ar¢J fv gr0P ar4J of the incomiro resources artl appIatbofi of resour¢8s. inclJ tr income and expenditwe. of ttE ¢haritle gFOUP for that p100. In preparing th•s• financial Statements, the Govwnor5 are rqtwpd to: select suitable 8ccountir¥3 poIleS appfy thèm COls1e. obseNe methods #nd prin¢ipl•s in Its• Chariiies SOI: make judgements aThd estimates that a reasorthlE pruden( stale lthether applKable LA< &cotir0 star¥Jart15 kwe been folltswtd, sthjectto arby malerial departures di5cID5ed and explained In tho finartial staternerts:
THE.KING'S SCHOOL, GLOUCESTER ANNUAL REPORT (xe THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 prepè thelinanciat stalenS on tsgolry corrnn ba515 il is irHppsPPtioie to presthme th Ihe charitable ¢ompwty VAII Gorknr¥Je iri bUsiS. The Govemors are SpOr86b1ef0fke8Plr¥jue xcowrtlThJ O$that 5ficI8nttostrthy explain .thé charitable company's twsactior6. dS¢loseIth rewnablg accur&y at ary tirne thè financAI posbliinof the charitabje company arwj eOle them to e1 thal finaKi stateMts ¢ornply CLmpanles Act 2006 the pwov1s1o tsl ¢$ eonstitutN)n. Ttw a 81$0 responsibf¢r$afegUerdlng the assds .of chathty the gro aThJ fortakirg reaSolIe SW$ lorthe pre¥tion aKI dctK)n ol frauj and othw le91th'eS. .So' faras tr G)verrots are"aYare. th•p $ no r8111 inform#b)n of th• Cjwily's tyiitors are unaviare. The Gov*Trors havè each faktn all ol thèsteps thalme ougm to have taken as Go¥emtsrs in orrler to make owsdves aware of any levant audit ionation and to tstajlish thaL charttablè eompanys ,alitorS we awarg of that infonnaliorL In accordance Section 385 of Companies.AGt 2tTh.-.a resol(iitin pfoposing re4ppo&rtment of Cmwe U.K. LLP as aLhlitor to scknol to g•wal m981ing.
THE KING'S SCHOOL, GLOUCESTER ANNUAL REPQRT OF THE GOVERNORS ICONTWUED) FOR THE YEAR ENDED 31 JULY2023 STRATEGIC REPORT The School •9 oftgirdty est8bli3ld a5 a bowdÈrvJ aThJ day sch)olforboys. Prior to September 198& the School admiited iunior gids up to Ihe age of 11. •th eff1 from Sopt•mber 1985. the Gove votfd to admit 9lds thTDugh)th ts entire raThJe of 3to 18 year5 oneducationa. soG6818rd fIn1 grounds. Bo•¢iro ha5 row bw phased out: as sh the SclK•iiI is [W a co4181191 day SCI01 for puplls a9 3 to 18. Tho focus thi5 year, like tho pwous year. ha5 been tha ¢tij delNery on the $trate9i¢ plon as laid out by the Hèadmastw. Thè School, Ilke mary in sector. coth"rnd to fxe PssUre from inflation•ry pric• increases. Despite t$, have manag&Y lo marrtain OLf of at>Yemic Lxcdlertè. OLtstandirg pastoral care arwj a variety ol ¢Orycurricthr opportLrie. The $p1 has to invest in it5 fxiliti during the yw. eornpleting worfKs to genert¢ a rw scie dassroom. with an extwtsion belng added to t existing sciance buikjlng. Further commentsd to refUlSh the basem1 of the main Senior Schoc4 bu1[ng and Improve the environmertal pn)perfies of Ih8 Juniof School bdIThj by aYdirvJ instyla1n * part of a repla¢¢mr se St Thè stthool'¥ ¥trate9y is rlivtded irrto Sthf maw) aa$. Pastord: To n7aintwn the scIorS feputstionfor<Jefvtr¥ 0staSIrj pastorJ care. atways fo¢usro 'on ihe lIbe ot &%h indldU PLPiI. Acadernic.. To sthfjve for irspiralion •¥J excdlwre learriTrJ. Wing fyach pupil achieve Iheir full potentia. co-cuffLr. To offtra bffjJ rye of ¢Qry¢uniculor opporfurMt5 b8yorJ tlp c185sorn. alk)%Jir¥J parti¢ipalion and excellerKe lor all pwils. Slaff.. To ¥ecrL4t the most suitabty qu[ed staf aB"comnutted to the et$ aspiratiorts of Ihe schjol. Operdtions: To rnntn grow resources aThJ Ir£ome In oryler lo that ts Nglst qUty ot facilities are prr)vk4ed. Admk85ior6 8TrJ markety"ng: To rec[ pupiL8 fmm a TrrvJe of bk9vJs 711 play a ful( suc¢es$ful part in the lrfe C•f the school. FourJatitin'. To davdop ? Kry's Cornmurty of formw pupiLs. parerts and statf vall mrtyn contact. relish ¢onte and support lh8 futwe ¢Jevdoprnert of the Sc01. Revsew ofAcllvlttes fv£hl•¥•mfnts Pupil numbers rtthiro the year threed 722 0)22.' 689). We betheve Ihat the Cofrtinued Investrnents the S¢hgolhas made. notjust in facilitie8 arKI techTr)109ybut dso in $1¥ff. sigrwricartycontrtsthd lotscOntiNj growth in pupil nunbws. A Re9ulory CompliaKe. Educational (knlity Mai¥iai Ctwffje knspeclion tK&s caryi•d out n Seplemb•r 2022. The Independwrt Schools. kn$toTal6 ryort slataj Ihat tlE s01 rnei every stsIry achIeV the big1 possible 9r8dirvJ of '8xcelknt' in all a$. Ir r•sult$ wr• w$ eamed by PLpil$ ovtt a chall pernd of sCFuJO t4ch HNolved 3 yéars ¢ disnjplion Wih the pJemi¢. The med4? dise[Sed mwh abo ttms ygarfs rebjm to 2019 grddin9: il pleasing to see that KirKJ's &lNeved better results tlwn In 3)19 that our upwth tr of acl¥evement ¢ontinued. At A-lovel, over a quarter ol fesdts at A"IA. wth o¥erlK of al gr&Je$ btyng A'4. There Wds a 1c% '.pass Trte overall. In BIEC. al pupil$ ¥chij Dlltion0r stwed DistInlOn in part of Ihe cowie. 14ch equates to al A'IA gdeS af A Levd.
THE KING'S SCHOOL. GLOUCESTER. ANNUAL REPORT OF THE GOVERNORS'(CONTINUED FOR THE YEAR ENDED 31 JULY.2023 Yrns pleasiry to see PlIS cunlinwJ to 5cee w088 vAle raYJe ol arAdèmi¢ $ubj•cts Off•1 at K)9'S, V4ith 27 sthiects on offer. The varied umetsty destinations p¢4Jds readyy Exercise Sports Scim at Exetv. Gwgraphy * Loughbomugh: 8iologtc Sciences at Wamlck.. MUS at..SoLrtharnplon: and Psychology * Cardrff..,In ditian. this year of ovr ptpils reiv&l offws ot pTrsti9iOts inttmaiional wbvors1es. Ihe highly souylrt aftèr Vass8rQJllè3• the USA MCG1 Ur¥vwsity In Canada. GCSE resLdt5 we outstanding and contirNJ&J the up?ard treThi of resulis over the pasl lew yea15:.KirwJ pupfjs produced one of our best ever sèt ¢if Its. A.rrfth of all grades werE grade 9. four lime5 the notN)nal average, 1th one in thrnè rBsdt$ at 9rad•9 or8. An equdty p05itrvo S1% of resitts ach grade¥ 9- 7 {equNalent lo the old A--Al N 15 Important lo sèe beyoTrJ Ilie5è ststi5tts c¢insider lyiw mh trne. effort energy the Fiupils. vith the support of trthe, w0 acfveviThJ 11se leSLts. KÈry's has a repulaiion forprodwmg $¢rong l- undors th go31 charxtw Wfk hard."oulsid8 tho d85sfDOrn a5 as inside It. AmorrfJst tho pypi& celebrating 91 restS * tIE sch)ol were a $evdl 9rw mLL%iclans formèr ¢rf$Irs, some InC(lIble musicrans,"firsldasssPOrt8 menand Y>men (WudiNj a strorKJ gro at (Joester RugbyAcadomyl sLq)wb artists 2nd mwy more. At King's. acadern excelFence 9oe5 hawxy Vith sh as kiThYnass and compassi)n lor o¢Jr cornrnwity. Even in Ihe m¢dst of a cost of kving ¢risis.thi5 yeargroup raised £6,116 to b? shad betwn thi5 yearfs ¢hc¢seri House charibes L&Jkaeinia and trrteri$ive Cherrlt1pY Fynd: Gloucest¢r Feed the Fngry.. Gk)ueestw Dèaf Assoeiationl trbjusè a¢tivib" S.3$ non-uniiotTh days. aso raised £9,000 for our Part S01 Doiriakal. kndra thrOh ElltY days."a conceit and an ir¥J ivklua! eampir#J chaienge. We also SLPPQrtJ other bjcal ctrArities vAth sponsorship in the GIoLxester 11X and thè Run Runw3y Clbgllenge. A large rwmbw.of pupils have la p¥t in ts Guler W Plect ovw th? StThmer d we had excellent pt and support al a Clffislmas event held at school fordisadvanta•J pupll5 V4ithin the bcal ¢ornmuity. .Our pvpils perfoTh&Y in thescliool prodtKtiorts of'S¢M)d of Rock. and The Brothers Grimm SpeetacLiat'. took part n a Sport Tour to PortLKJal arxl aged With adtura tours io York. Qjsta Rka, Pair5 ar¥J the A20re5. We had many PLyi1s or9arusing their own volteerry placemerrts Ihe Junior School, local gchoo aThJ Read Me prograftt. bur we also h#d bts of pupibwb)SvolIÈertd with thè Gktrucester CAty bliday Ath"vity aTrJ Food IHAFI Programrriè. The JurHor Schjol. along ith the EYFS at LitJJe Kw¥J's, e¥pwied a ywflMedlth grothand d8velopm8nt Ident in our excdient ISI ipectiOn report. Key focd poirts durirKJ thi5 year waE celebrab.ny diversity. a(1dssIng erNironmental concems. and wioiilisrng th8 of both p11$ and staff. Th pupils WEre motW8led to erfjage iritheir studlèsthroh critical thinkitrwi. sélF4lire¢ted leamire. an enlhu5iastic attitiKle lowards avery facthol thowoducational jtsLuney. TniB miThJs8tvs promlnent ev Or& ouryoungest pupils. We wer• deeply proud of theirsin9LrfaraAd joint COmplISh1nenls P8cladY in tern of supptyrtlng ourloca, region81 and intwnaltonal CDmiriunities...wtrieh erMpaSs efforts likettre GI0e$l¥ Food Bank City Mission. Gloucestersh5 BuThJles, th'ldrnn in Neetl and our pwtnercornfflIty in Domakat . India..'In additio warded Eco Schools Gr Fl4 ilh dlstlncbon. Finandal Rw%ow and R•wrtts fry th• Y Stkvjol ¢onimuos to ben8fit from an e¥w4n¢rIn9 PLpII roll. Mgth hicreas• of 46 pupils Yearn- y8ar. This has hdped to compensweforcost ars vthh have advétsdy inpacted by irrfL81ion. such cat8rirg. D•$pite these chzllwq96. th• sc01 has 9wraj a surpts of£221.087 I222." surplLL% £144.2323. The Sch)ol also conb'nues to rei"n 5trvryJ cash ger&s0. view to $irgI its liquidity positir orderto meet ext8[ flnartwwJ muiity de5. Thè outlook for thè rt 12 morihs for the S¢hool cont1rAs to be positNe, w¥aeh 15 8viderr¢d by fLKther grvvth In ow pupil roll.iThe iecert r&UrbiShnier of ihe 0¥t0 Sth Forirt cerrt.'rerna1n5 a strong seilirwd polni. The steady wJ9rad& of existirvJ falIes. bothto improve thè overall putJil'erNlronrrient ar#1 to irease
THE KING'S SCHOOL, GLOUCESTER
ANNUAL REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
apacty. 15 a clear sign tfAt scr0[ is planrNwJ for Ihe fe ¥th conlideJKe, despite Ihe le53 certain
politscaloutlook. The Schoolis also lindir•J tt re¢ruthent thtion of ligh44ualtystslf In certan t8achir¥J
Optt.0n areas to fjrtre8siNJly ehaleryiro.
The School does vlgdart of trefinncial iisks that VB may b? $ceptrOto over 12 months.
specmieaily Inflationy pressLwes suffothdry J. lightiry and catering. We aso recognise potenlial
Impactthat a ehange of goverrment may have and the associated iisk of the applicabonof VATtoschoolfeeg.
The School of clIe8 to pwal affOabilItytI$ creat& arKI as such It is looking
drive further efficiencies to Mlm15e the im1 on sGkJol fees luture ye•5.
In¥
The School has absolLrte pov4W to itwest any moiutts of the Sctr)ol r#)t immedotdy wuffed forlts puoose
or upon 5UGh investments. 5ecwilks or prDp¢rly of thoever nate a5 may be Ih1 fitaTrJ to vary tl
investm8nl thereof in such manw as may, fom tirne to time. be delerrniwf.
rnvesimenls ** ¢urr¥rtty a COIF CharftEs trNesthTrerrt Fur1 wtsre it pv)uS i>)ked to supportt
prtTr aThY Scttolarshlp FWMJ. wth a lo xhiwwvJ an above•ernge di¥kJ•d, rdatiV8 to UK
8quit185. to enable th8 prDvision of piizes and scnoLwsh"ps. The investmerts rnwkel value at the year end
dato %Yas £91,703 (2022" £93,551).
Inve
mtn¢ Perfomiè
The investment perfOnanCe for1 yw yidded a tow reithm 011%. h¥estTnents are made lo maximise the
total rètum and generate investrnemt forthe gwliry of prizes arkl scl¥Jlarslip$. The invstnwt p•rforman¢•
for the year lJas generated aft nUal divtdÈnd Yk1 of 2.8%.
The School's poltcy is lo irNest in its factltltes to SLVPOrt the edational ld blnesS needs of the SehooL
Thrs inestment is SLA)je¢t to •4alability of f5 to 5pOrt the day to ¢Jay Opernli¢JI needs and b
maintain adeqL01e $OuT¢S to me8t any c0ntirvJC18s. Ary Tnaior investrnert in bLuldiThas be finaneed
by thase fLnds and necess3ry by borTOgng5 or fUrsI. The level of borrohirgs wdl not exceed a
levd svFych GoVerW are corfklent can be SiCed by the prudeth projeciitin of futtsTè tncorne and
expendilurt and assuciated cash fbows."
The School's iotJ reswves of £5.58rn" r2tr22.' .35rn) atthe year eThJ comprisiThJ £17k f2022 £17kJ rÈstriGted
funds and £5.56m (2022." £5.34mJ unrestricted resery¢s. £8.73m (2022.. £a 73m) rrfjresenied the net book
valL of fixed 35sets. The G0VeTrJ corsiderthal 9iven the 5trWth of the School balance sheet, the stable
h Ilowfrorn the stLKJenl roll and ongoiwJ popaF]1Y oftheSth)ol. that Ss no need to bulla up È frea
resawe.
All fundraisirvj a¢ti¥itles forthe Scfvjol we carned by hioNy professior41 Sth)ol staff hith assistaneèfrt
t1 parent$ and pupils. The s01 do85 1 Use extnal pfesSiOnal fundraiser5 or have any cornmerc
participants. All fuThJItsj scbvities 8re m8no9ed by It Healmastw, wthh oversobt by the member5 of the
Govaming 8ody.
ND cOrnplat5 rBlating to IwhJraslrnJ actNSttes h&Tg receiv by ihg SthKI durir¥J thg linanrAal p10.
Fh)wei, the SthJolha% in pl
THE KING'S SCHOOL. GLOUCESTER
ANNUAL REPORT OF THE GOVERNCXIS {CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
Princi
ertnt
The Governts le9Y revtew the effecliv•xss ofcumtplar6 sttsteg1 foridentifwrfjaThJ m3r4giro
all rnaJDr risk5. GoverThJr5 have previollY a55e5sgJ the rnaioriisks to the School L8 exposed, arKI
are $ab'sf¥wJ ttwt systems in plx¢ to tr98 exposure io the rn2Jor rtsk$.
Oetsiled eonsideratp)n of risk i5 delegaled to th8 Finance aThJ GTal Purposès Commtee. reports
fOn8[(¥ to Go¥emTh¥J 8ody. generic corrfrnls by the Sth)ol tL) mtnimise risk IrKIle".
Detajed terns of refe1ce fom)al Waa5 for Coftknittee * Bowd meetings..
Strategk det0pMert allY by Ihe Govwring Body:
Compreher£ivÈ budgeth abj rnarlager1t ¥cOts)t¢.
Esiablisld orgarusatknnal stnKtuBs and I'nes of reporttrJ"
Forn81 ttert PolieS TdirJ dear autnSatIon ar¥J appffjval Iwefs,.
Veitirs ¢mc•Jures as requir¢d by knvto tha vukwle.
The Governo have carTied O¢A an a$sme of ihe ktyffisks aNt llnrait fxirKJ trSchool those
identified prirnarily rdate to lde¥ 0mY, Ihekro letrn mwknt dwn•J forpthes atthèS¢hool and the
impad ol extrnal lactr1 on Schotsl's devdoprnont plars.
Wiihin the localtty thwe aFe granwnar scFDols ser irKlepIertt schjols. ThroLub
ovtstandlNJ pasirol care. prudert sinKtuAro of th? wi¢um. thèprovi5ionof knspiring teachirJ, a Mde rdryJ¢
of co
THE KING'S SCHOOL. GLOUCESTER INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF THE KING'S SCHOOL, GLCLICESTER Oplnlon Wé have audited the finanoal StatentS of The lfjwJ'$ Sch)ol Gloucestw I'the thtable comparfl and its subsldlary fthe group'l for the yw ended 31 JLrfy 23 cornprise Coftsolidated Staernent of Financial A¢twities.Balance Sheets, Consoli¢Ja Cash F]owStalement ar¥J teSt0 I1cial stalernertt?. ilUdirj signrfi¢ant accountir¥J policie5. The fIrla wortWb3 framewrjrk that h35 been 3pplied in thar preparotion 15 aPpIable law and lthill KiTrJdom Accountirg Sta-dafds. induding Flnanciai Reportw StaTh#ard 102 Financi ReporttTrJ Sla¥Jard appWle UK Rep(t•lK of IrdoTrJ Iurmtod KingdLxn Gefterly Accepted Acco1[j PtIce1 our opirmon th• firAnckql 5ts1ernents: 91ve a tnje and fairview of the state of the 9roLp's and Ihe chontsble Comp.$ affaws as at31 July 2023 and ol lh8 9roup'6 incorng and oxpenditure. fort year Ilw thjed., have beEnproperlyprepwe¢ In Unit8J KirsdomG¥rally Accepted Accourting Practic have prepared in accord¥te with of ttke Companies Acf 20L%. Bas1$ for oplnion We conducted our audtt in kntematK)nal StarKl•ds on Auditing {UKI IISAS IUKII and appli¢ablelaw. Our resPolb1h.Ies under tkn$¢ $taThJwdsare fIrtId+S¢bed in thgAL¥Jilorfsr8sponsibillb" (orthe audit of the finala1 stateTrts seclion ol our worL We a independent of the group in accofdanc8 h the ethi¢al r4uirements that rdevw to our aryjrt of Sta1ts in ttr UK. Ind1Thg the FRC'5 Ethic Starard. we have fthfillwj our other ethra respOlbles in accordarKè wlh thes• wèquirtments. We bdieve that the 8j11 ewderv v have obtsred is SLlici•itm8 appropriate to pwvide a basis for our opirllon. Conclusions rnlatiry to going concern audltiMJ thè flnancial statements, ¥ have ¢Onc1e£r that the Iwsl's use of goir¥J concem basis of accounting in the prepaati)n of the fInar siwnts Is appmpri¢. Based on the wowk have perfonned. have rw)l Id any mthial unGwrties to evenls or conditions that. 1ndNidlY or ¢ollectivdy, rnay Gast SgnJfi¢art doubt on the chao"tthle Gompany's or the group's ability to contiftLte as a going fL)ra period of at least twelvè morths from when the tinancial stataments are 8hOtse for Issue. Our responslbililies the pOrtsnleS of lte&s SpeCt to goin9 con¢wn are de5c¥lbed in thè levant sect5Lins ol thls report. Othèr 1nnnatIOft The Irustees a resportsibleforthe other inl(>rrnationConis wiilyn anftual report.Th? other lrforrnatth eomprises the inf0mlon Included in the anr¥A Feport. other bkn fiYWci slatem•nts and our auditorfs report Ihereon. opinion on IITe fironc1 Statem&¢ does rt covertl otlr Information a1. except to tlÈ extenl Dther¥%ise expliciuy statay in our report. do mt express aiy lomi of assLYance cDrlusion theron. Our responsibility is to Rad the other irrfomiatn aKI. in éoir¥J so. consider 4Jether Its other irf0rn8t¢on Is matefrally SOnsIstanI wlh the fir18[ stat&nents or our kledge obl• in the au(Sit or othwwse appears to be maten.elly rThsst8ted. Jentify sh Matla} lrtonsisteles or pat mateNal missiaternents, vm are to detemiine wthether thi5 gives ii5e to amataial misstalement in tha rFnancial slatements tlwnselves. ff. based on thè havè perform•J. CO118 that th•re i% a material missiatem•nt of ttis other lnf0rrnatry we UlTrd to w•ort Ihat facL We havè to rèport in Ihis R9wd. Oplnlon$ on othw matt•rs Pr1bd by the CompanIes kt 20( hi our opinion based on thè underta(en in ts cOue of OLY audtt the infomiation givsx in tnJstee5' repor4 thi¢h i1e$ (he directors. WSOrt arKI the slrat&Ji¢ report preparèd lor purposes of company . for th? finX year for the financial statements a propared Is COlStant vAlh the fin*4 state. 12
THE KING'S SCHOOL, GLOUCESTER INDEPENDENT AUDttOR'S REPORT TO THE MEMBERS OF THE KING'S SCHOOL GLIXICESTER the stTrleglc wort aN1 thg directors, report Aitrin the IpJstees' wiort have been prepared in accordance with applitAble legd rg]wments. Mattars on twhi¢h we are rtqulred to report by u¢epti¢n IlgN of th8 kmwled9e aThl under5kndry of the 9r0 chwilable company and tr"r envin)nment obt8ird in the of theaudit. hw• rot id1•¢j mtsia miss14t•mS fft thB strate9icxeport or th9 directot5' r•port in¢ludèJ vJltrMn the trustees, r We hav¢ mtling to r£port in r#p8¢t ol the folloiro nwllws in rdaiort to vthth the comp18$ Act 2rJ)6 requirns ¢Js to report to yots rf. in our opiraon". adequate lj proper ac¢oLntiTrJ re$ rnt been kept . or finattial StatentS Th)t in agreement 1th the 8CCOLwsry recOS returns: or certain disGIoSWE5 of tAtee5, rernurwtion spe¢ilied by l&v are r1 madv. or have Trjt rxavod all th& Inlormalion explana¢hJrk rtquirè for ow audlt R8sponsibilttle5 01 trusts As explained re IY in Ihe tnjstees. resport%iti14tk8s ststerwl set oth on pwje 6. the trustees Ivtho ar8 50 the d¥ectots of the chaAtable ¢ownpany fort1 PUTo$es of corrpany lvl are responsible forlJ)e pwaration of finanoal statements and for beir8 satssfied that giva a tnjè far vI8w. aTra for such iniemal coniml as the tNstees detemiir is necess to erAb thè prepa"on of ftrArtial statwnerts that fret fffjm material $StateMent. knfielher due to frdvd or eryor. tn preparing the f1?1 statenwls. Itee5 ao ffesponsts for assessw the chatable comparrys ability to c<ntirnk a5 a gOir#J COrern. disdong. as 4)plicable. mattus reled to going con¢em artd vsiwJ the going ¢oncn basis ol accoLmbrvJ untes$ ts Inle8$ fftloKI to liouidate the Ghatitable company or to ceas8 operttions, or have ro wfistic tsl1¥e ttui to do so. AuditDf s rèsponsibilities for tr audlt otthÈ financia sfatements Ow obiecNes are to obtain w$Onab assurdrKe abo ther the fInla1 sternents as a wb)le a¥8 Iree frorn material misstÈtemen( bthether to frdud or erTor. aNJ to Issue AYitorf5 IEPOrt that includès our opirion. Reasonable aSsur3re is a Igh kvel of assLfdnce. byt is rrfjt a guar•rtee that an audit conducted in CDrfan¢ewth ISAS IUKI VAII alwzys dete¢t a matwial misslaèment iiwsts. Misstaternents can artse from fraud tsr ewor arnl ar8 cons#lered rnatenal rf. iftdivh1ua1 or the aggregate. Ihey cOd rnasonably be expected to Influen the economt¢ decisKJr of us$ tak•n on Ihe ba515 of thes¢ linarKial StateMts. Oetls of the extent to th¢ dI1 consIded capable of dètÉxtirrfJ ITr3¥11"e$. dir¥j fraud arn1 noTrcompliance wth la4 and regthaiK)r set oul bejow. A fLother dsscrfpiknn of ourresponsibllkies forthe aLhdit of Ihe linw•)al Statents i3 located on the AnwKial R4)ortiryJ Couwfs webElte at.. .LWaudit . Thrs driptiOn lonr part of o auditors report. Extsnt to wttlch the audlt was consldwed cwble of detecllng Irregulitie inLluthng fraud Irregulaiities. includmg frydud. are 81¥e$ of ThJn-CompSe lakns aThJ rtrJutab"ons. We kjenllfieil assessed Ihe riskstsf n)ateria mis$tst8mentof the1trk ststemw15 frn irTwJl&iiiès. V•tther due to frwd or Tjr. )d dSSad thBse bemeen ow team members. We tlw de5hJned and pejforrned audit ProcurES sPor$1¥etO tl¥Js8risks. i11 obtairllrg •>Sit widertè sufficiertand apprnpiiatèto provKle a basis for OLW opinKJn. W$ Obtai an erStand1r9 of the ltyal frameorks ltNn Ihe charfIab compary and group operates. focusing on those and regulattons that havo a dirnci offt on the determinilion of malwa ouNts anj disdosityÈs wi the finwcial stateffent>. The regL4atsorts consbjered in IWIS context w8r• th¢ comp9$ Act 2CK16. ts¥atKJn legislalitin. togetherith ts I)11e5 so (FRS 102). We assessgj the r8quod ¢omplKe wth Itw I le9allonS as pwt of our audit procedurns on the rolatsd fincl ¥tatwmont itwns. In addlion. cortsKIw8d provisiorts of otlw ar1 regulaiions that do rt•t have a di1 l¢tOn finncial statements bul cornpliarfe 1th tA4ich migFt be fuThlamenta5 to the chwtabl• eompary's and th• group's ability to operate or to wold a Matla1 pwdty. 4$0 cor&id•rtd the opportrt incentiv¢s 13
THE KING'S S.CHOOL, GLOUCESTER
INDEPENDENT AUDrroR'S REPOIiT
TO THE MEMBERS OF THE KING'S SCHOOL. GLOUCESTER
that may exhI1n CritlIe cornpany * th¢ gro forlraud. The and regulation5 consideTtsY
In thls context lor UK opww)ns re fv EdueaK>n Ihdep)J£nt S¢11 Starnlardsl RegLdatsons 2014.
Auditing staThJards the Nuired aL#Iit procJuw lo Jwttily Mn
THE KING'S SCHOOL GLOUCESTER CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JULY 2023 Totsl Tot 2022 Funds Funds Income and endgwmerts from: Charitable adivities Sthtstsl lees AnClary Iradirg Other IAdlng ivities 10.938.777 1.254.923 10,938,7TT 1.254.923 9,835, 752 689.410 Olhw incomia resources Trading lver- Sa10 Enlwpdses Invesknents Invsslrngnt income Voluntary sources Voluntary Sncome 21.040 96.65 52.391 ¥OS7 24i)$7 8,867 7.314 14,077 25312 Total Incoming rnsourc•s 12.342.218 7.314 1 1349.532 10.656. 128 Expendlture on: .Raislng fjJnd$ S¢rfo Entery)rises cost5 .Fundrais4ng costs- othEr Fart¢e costs Total deductlble c95ts 48.442 12,035 110.28S 170,762 21261 9.061 107.162 138,484 11035 110.285 170.762 Charftabla acllvltl•s Education gr8rrt maktNJ costs Total PendItu1• Net incom1n10Utgoin8j fund5 from 0101 before transfers and inveslmert gains 2a790 145 222.935 145.268 Trartsfè (Lossesygains on invastments 1,036 ni4)vement In funds br the y 220,942 145 144.2 Fund lkne8 as at l August 2T22 5.210,364 Fund balances as al 31 July 2023 17 5.354.%6 The noles on pages 18 to 34 fomi pwl of tlse statern. 15
THE KING'S SCHOOL, GLOUCESTER COMPANY REGISTRATION NUMBER 03834841 BALANCE SHEETS AS AT 31 JULY 2023 oup School 2023 2023 .2022 Flxed assets Tangible assets Investment& 4731,638 91.703 823.341 ardT.770 93.551 &821,321 a 731,638 91. 70S &823.344 8,727.no 93.SS4 &821.324 12 Current ass#ts Stocks Debto Cash at bank and in ho1 1&612 .14.145 705,414 1.448.708 11265 1&611 14,145 7A5.379 13 1.415,985 2.226.641 1.343.422 Z21a039 2.164. 793 Crèditors: amourts tslling diie wAthin one ye8r 040.759 204.462 N8t currpnt ass8ts i IllaNiltigs) 17Q062 &88n 177.280 ,669J Totsl assets less curr1 assets i Iliab111ti81 9.1.403 8.781434 9.LXXJ.624 &781. ,Credits)rs: wiounts falling due 424720 427. 425.T20 ,437.838 Net'assets 5.575.683 5.354,596. &574.904 5.353.817 In¢ome funds R85tsicled fuThJs iQ763 14908 16, T63 Ggneral 4551775 A337,3 &557.996 5.337,054 17 The foftle ye¥ deat wfh h? the Statements of the par•tt clwity was a surpl of £221.OB7 12022." stwplus 044.232). Th¢ linan¢bi statenients ¥proved arnl sUttlIsed for by Board on and sVJd on Ils by: illr P Dan¢8y Chair of Gov•mtsrs The notès on pages 18 to 34 fonh part ol thes• firk81 statvnts. 16
THE KING'S.SCHOOU GLOUCESTER CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2023 2023 2022 Net usll inflow from operations Nèt cash prrivk4éd by opwabrMJ 424571 ".T70,64fj Cash flov4s used in investirvj acliviti• Investmenl incomè and bank interest reGeNJle Paymert for tangible fixed assets (493.706) r28287 Net casb used In Invesfjng xttvllies 74. Cash flows froin fiRCIng ¥tiwlts"ès: Rèc"élpis from new èJvaf¢ce fee ntrts Amowls utllised Fir¢nce costs paid Bank If) repaid Bank lo 771,573 f340.048) (110.285) 77.823) 356.064 (187.355) (109.942J {694,567J Il•t e•sh used Ilnvfrom fifiancin9 acliTalles 13.417 Change in Casii and.cash equ4valenis In Ihe r•portin9 p•rl•d 721) .(139,162) Cash WKI cash equivalents at lh8 begirr#vJ of the"period 1.44Q706 1.585.868 Cash and ¢ash equiv#l•nts at th• •nd 0tho ropn5.l9d 986 NOTES TO THE CONSOLIDATED CASH FLOW STATÈMENT R•condliztion.pf ntt in¢om• ts net cash"li¢iw from 0ralIn9 athtiè5 2022 Net irtonmng iesourres for thg yè Eliminion ol Th)rFopwats'r#J cash fb)wts." trwestrnent ifvme baw intetst FironciTrJ costs .Lo¥¥ on di%poseJ of fixed assds '.Deprecialion of targible fixed assets. ..(ktraaseV¢Jlea5e In stocks .Ilrcrea8eVdecrease in debiors I[re&Sel(dec[asel..In cre(iitcirs .222,935 144268 4.057) 110.285 37,027 ,452810 12.405) (88,S30) P82.394) f4867J 419.g61 14362 (1.7281 192.488 Ikt Gash Infiow from ¢peratlon$ 425 511 .Anatysls ot Cht$ In net t I AtPJUSt 2022 At 31 Jtsly 2023 Ca6h ai bar 1.446.706 (30.ni) 1.41S.985 The Th)tes on pages 18 34 forn pwt of fiwwl staemlS.
THE KING'S SCHOOL. GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 A¢UnI5Dg polldes The. flnancl statements have be8n prepad In acCOrdarKesth the FirwKi Repo Slwdard 3pplicab In tbg UK 8rMI Republic of Irdand (FRS1021. CompaTMes Act 20C6 Statement of RecommeThgwJ Prdctice applicable to charitres preparirJ ther fIrWl statements accoan¢t wth tl Finanrid Reporting St8ndarrJ appliGabte m the im< aNJ Repl1 of (FRS 102)- effective l Jwry 19. The fLnGti¢na cuw¢r¢y of th8 S¢lK>olts ¢0rt8JdertyJ to be GBP beca that is the euff•rcy of primay eCormI¢ •nwYrJrmert In S¢knol opwat89. The finarKial stateftts are drdT•f up on the listorfca c0stba5isofxc0tlj.8SModrfied by the r•v&lJalion of irwestment propertie5 and otlr nvestmwts. The Charttsble Qjmpwy has ken advantage of texeMPl10n avail)18to a quaiffylng lIty der FRS 102 fromthe r•qUIt lo pSert acharity orty Cash FIowSlatement ith It ConsolldatfitIal stalwnents. Hwirg fe¥ieknEd fL¥irS fwlit• av•labl8 to fv se01 togellvith t txpect•g oNJoin9 d•xand fol pkce5 aThJ the School's futwe pnJ11j cash flovLs. the (knerTrJrs have a rtasonablo expectatDn that tho Sehotsl has 80ceS to conlinue its activtW foiV lortseeable luttwe and cortsider that thep 3re no malerial uncertainties ovuthe Scmol'sfifyg4 viabrfity. A¢¢onlrrMJty, ty $0 ¢ontinuB lo adoptthe goiry Concem basis in PpariN the linancia statwnents as Othlird in Stat&M¢ of Governo. Re5pDn5ibilf( on pwJ8 6. The IancIal stal#ants present Ihe corsolAlated Statem of activities ISOFAI. the consolidabj cash flow ststenwt and the ¢ortsolJatecl and (Jority slwBlS cofFyrisiro thg CO0119n of Schoolwth its whcBy ovmed 5ubsidwy Serfo Elllerprses Lknited. No separate SOFA ha5 been present8d for School alone. as pem)itted by S•¢tion 408 01 thg Comp1¢$ Acii(. The Schog1'5 swplus 9enerdtion tor the year ld5 £221.087 f2022.' £144.232). Tha School is a Publi¢ Benefit Entity ffgJtstertd as a ¢knty in ErnJlaThJ ayj Waks a)d a eompaty limited by guarantee. tt was in¢orpoRte¢ on 26 Awust {¢ompany nber. 038348411 arAI registetsd as * cknty on 9 May 20 (charity nurnb. 1c11. Crltical a¢countlng Judg•ments and kty sotJr¢es of esllmation uncerf31nty In the applKation of the accoLrtfrng pofkne5. Go¥wTh)ts • Vired lo mak• jLKlgern•rt$. estknat•5. ar¥J assumptions aboth the ¢wrying vaue of a55ets liabltieS that not readily 8ppargnt fffjm Othersoues. The estlmates and undertyirg s¥th)n$ are based on listoiical &xperfence otFEr factoB Ihat cortsider•J to be rei8Y8nt. Act1 may drffer fwom these estNnes. The 8$1im8tes and underlywNJ assLKnpiiorts are rEvAed on oryoirg basis. Revislons lo a¢countirwJ •stim•tes art recognised the period h 7hKh ille e5tirnale is Wi5ed if the wision affects ontythat pèriod, oi the perfod of the rèvision future piods il tP 1$? affecied cunent arKI fLrtwe pwiods. h the of the &Jv8nbJrs. rK) assumption5 corrnwir¥J the fkn or esImatn uertarty affeciiNJ ass or liab115Ua$ at the baSarre sheel dale Ikdyto w851 in o JJtrrt to thtw caThying UnIS In the next financd year. The follohiNJ accotry policies been ¥pThed corotStertJyin deatwwJ ¥Alh Itwns WE CorlI1erl merfa in fylaiion to Scltsofs financia staemenls. 18
THE KING'S SCHOOL, GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023, Ar¢olI1n9 polici•s leon11ndI In¢¢ming re8our¢ Donatti)ns. legacies other lonns of voluntary incorne •E aC¢OLKed foras arnl %En entillemenl S. amowrt can be eblY quèrtifled the ecoM)rn benelit to ts School Is ConsTrdej Pbabl. Fees rl¥able and Ghar9es forseNKes are oUnted forin the year invthieh the ser¥tce is provides. Fees rec foredLKation to be provlded h futwè callbed lo4 as del¥ I[Me in balte sheet. F¢es ¢t1¥able staed orterdeductiF¥J alts7hww, sdKslwstrJip$ and ollr [thssn$ granted the Sctrool. ithe cort11bloTr$ from mstiicLwJ fwxls for srh)latships. blasas ar 9raTrts. v•rffmtnt granls we recogThsed basèd ontr£ accDA rrodd we measLtr•I at Iho f01rv4 asset or rec¢ivabk. 12 Resour$ expended ExpeTrJiturg ts ced as sooThes a 8bUIty is COlderj probabl6. dsscotnted to Prn58nt Val for Jer4emb liabilities. ExpenditL¥e 15 XCOLmied foron an accnjals basi$ arKI is summ•i5ed under 1ctiOnal heliThJs on e direcl Cost basis or, forov•theads. apportio0 a¢cording to man89wnent eslirnat88. irrecoveT)le eiwfit Ejf VATIS Y¢1Jed iih the It of expeTrJiture. Gtsvemxe ¢o$ts Mprise¢0sts tsl the Sc01. advtè and ai eostsof complyrg fjth eonstitutnnal arKJ ststory requm)erts. costs inclLJ? costs associated th tlp pknrry arxl oryanigtion o[furl?15I 15 and the costs of the tr1 sub5kJiary. Tanglbl• fixed ass¢ts and depredation Tan9ible fixed as$et$ other thon frEehDld ld a $tsted at eOSt less depre¢lation. Depreciation 15 provid&d at rntes caculated to vmte off tc0st $S estrnat rS¥aUe based on eLrnt maket prf¢e$ of e&h asset over its Usel econorni¢ fife. &s folkns'. Fw8ehold land is TrJt depreciated Freemld w¥J loryJ leasehofd buftdiftgs Fixtu.. ftiliThJs ar¥J eqLllprnt Volor vd)Kles CoMputerpm& TA stratgtsr 10% straigN lire strai91rt li 33°A straight lin8 Assets under constry1 are rt d•preciat&J 15 avalble for ¢. Le85elKJkl impmvemerts lo brdI1¥s on sl¥)rt le b•as•s ar• d•prn¢iatod remaiTrng of slx)rt lerm lease I[UrId. coEting Ivss £5 gre off as an exp& fththen ocqurEd. Clwatlng lease commllments Rentst5 t$ ae ctrwyed on a stMght4ine b3 the lea8e tern. even if the paymgnls are notmade on sh a basFS. Benefts r8c•Yed aNJ as an w)centN8 to sign an op¢ratirK4 lease art 5inularfy spmd on a strarJht4ine basi5 over Ihe lease term. Investm•nts FIx8d as$et invoslmerts • stated atrn•ket Value atthe balance streettjate. Change5 inthgvaluation ol Investmenls tJLrriro thÈyear are as wweaiswj gwrts or k)sses in the Con591idatèd Staternent ol FirN¥K*l Actbvilies. knve8tmerts in sth5hIi1eS ¢ost le55 p¥$5 forimpaimiert. 19
THE KING'S SCHOOL. GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 JULY 2023 countin9 polides (coThOnu) Stock Stock 15 vauwj * the low of cost arKI nel r¢41819 vue. Taxalion School ¢5 8 wistwoJ ch¥fty aryj as sh is to lax ff%emptio onall ts Iorne aryf gains propetty 8pplied for its chaitable pu¢pos8s. Pensions The School pwticipated in Ihe Tea¢hw5' Pen$H)n Defined Benefits S¢twne wtil 31 August 2021. f¢x its teacFlng stt. * ratès set by the Sclme ActLW alvised to the Selbjol by the Scheme Administrator. The Schwn8 15 a Multi-knYeF perLsion Scme and t 1$ rKl possible to idertTrfy 8S8etS 8nd liabilitie8 of tre Scheme that are attribthble to the School. AceordlThJly. rter FRS 102 S28.11. the Schwme i$acc¢wrted foras ifit tre a deli1 contribuil0nsschwd the contsibufior ¥0 aceoLvrtod for advised as due by Schwno AdnwThstr&tor. The scr01 also contn"bute5 to a defined c0rtrlbLrtn pensron sGhem8 f0rr0n4hin9 Slam. From 1 Septernber 2021 all teaclyry 513ff also rn0¥ 10 the schaffla. Employer$ pension ¢ostd we charged in ths p•K)d in tiiEh the salarie5 lo wlich ty rdate a payabfe. iknrestrlcled funds The Gernral ¢orwiis¢ tr acCurnIat swpk. As sh Governo CorIde1th¢S¢ funds to b8 uroEstn"ct•J tLnds Thithin the defifytrs eoJtaird inthè Charilies Act in ttst tW ¥8 fLsnds ov ich they have complete dK8cr8iKsn as to tsir [e. Restricieil fi•nd$ Restrict funds We subject to specific condilions by dontsTS as to h(Trw be 8d. Tho PLNP058$ and uses ol th8 r&stricted flS set otst in fv NJte5 to stateme. 1.11 R•cts9nllon of liabllitie5 Liabilities a tOgnIsed once tle Is a legal oreon51nKtive oblwationthal commts the Cb CDmpany lo th8 oblNJation. 1.q2 Financial Instruments Basic finar¢ial instnJm&)ts a iiwti reeogntsed att$tiOnVa subje0Trtty measured ai amortised cost. exc8p¢ion ol Irwestments"Cha hetd at fa6rvauÈ. nanCIal assets held at 4mortts8d cost comprisecash at bank aThJ in knd. togeflw te aid olher debtOf5. AspecNk provision is made for debts for %%txch recovwability is i) doubt. Finanei¥ 14abli ities lbj at anortised cost comprisa al credttorJ excopl 50ual security otr tax•5 a1 fees in •Jvart•. 1.13 Redundancy paym•nts Redtjntlwcy payments absOlelY necéssary a xcowled foronsn b85iS en th8 commktmffrt to iumirwle a post on the grvLTrJs of redJanCY has be mado. 20
THE KING'S SCHOOL. GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 .vol1*Y Incom• ..2023 2022 Donabons. - Restricted Donatitins . UrbT8Strictg 7.314 fj.763 12.094 13.218 2022 Fees rÈceiTAble coKsisi tttr. GfOSS fee5 Lèsi. Total bwsari8s, gts allowarvs 13,321.238 P.382,461) 11.794.840 fz 127.038) 10,938,777 9.6S7.802. Add back.. Bursaries arnl ottwawwds pad Tor by by reStted furnls 157.950 70.938.777 9.835.752 Trading Incorne 2023 2022 Tumo Operating expths85 96,658 S2391 2261 •l•t profit frorn tr•Jing pl¥? $8e Notti 12 for further 21
THE KING'S SCHOOL. GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 Inv8sknént Incomg 2023 W22 knteresl weivzb¥p frw)rn rNestment oilw Inwri¢ 2022 Oth•r aftcillary actl¥itie5 t3r¢e ¢lwms Afler. school hodty and brè*fasl dLrt>s MUS rfxome Tuilion ir¢orne Trip incorne trport irtome Fee exlras irwme Summer ball 29.310 20.051 74136> 23.4B9 473.266 325.296 .223 34.919 5.438 21,190 101,112 26.416 169.000 156.200 16&374 39.680 1.254.923 689.410 Oth•r ir¥eoming resources 13,266 Govemment gror5ts sceU8rwus receApts 5.887 15, 1&3 29,915 Flnaneo and othgr $tr 2022 Loan inle1 Bank chay8S fL16. 138 4. 147 103.554 110.285 107 162 21
THE KING'S SCHOOL. GLOUCESTER
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THEYEAR ENDED 31 JULY2023
Analysls c1expendlr•
Totsl
2023
Total
2Q22
Costs
Charflabl• exdItUTè.
School operaiing ¢osts-.
Tea¢hMy ¢osl¥
W1• ¢ost$
Supwt costs
Cèt8iing
Ptwnises
4799,483
18&
1.79&627
7.595.110
186.
1.504.675
833.087
1,736,224
7.206
92,873
11.955.&15
6.425.457
125.746
1,308.340
694.278
1.5fj2,566
180,533
7S.456
10,3T2.376
831087
754615
44810
Goveman¢e costs
91
4.097.216
7.405.9
4510
Costs olgenerafing funds..
Furtdralsing Costs
S¢hcol flnanciro tost$
School
TTrdry costs
12,035
110.285
12,078,1S5
48.442
9.061
107.162
10.488,599
22,261
11Q285
4.219.536
15,111
7.404809
31331
451810
Grnup
12 126 597
10 510 860
G)vemarKe cosls ir
THE KING'S SCHOOL, GLOUCESTER NOTES TO THÉ FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31.JULY.2023 'Slaff Costs 2022 Wagès salarfes Socia secunty costs COntsibOnS 6.488. 759 581.429 ,5.841.869 531.359 36&952 3T8,597 7,439. 140 6.T51,825 Aggregat$ innuneraion arkd bwfits of ts 8 f2022 9) key pwsonnd tot"d £753.f9 (aVZ' 97,731}. This to the Headmaster, DeFiuty Pkad IAc•Jwnic). Oeputy Hoad (P86toTrll. Bursar. He ol Junitir Sckjol. Deputy HeaJ (Stafl). Assistsni Deputy Pkad CO-Qrri¢U and the Assistant He1 of Sixth Form. Temiination.payinerts of tB.(I)) (2022.. E12.462) VrnE rnèd• duriroj the year. The aver8ye rnonthty rnmybtr ol I1 Dm• •Juvalènt npknye& dwing the yewvAs'. 2023 2022 and 5UPPOrt stay 165 The avernJe n[¥er ol employ year culat8d on avwag• I1 count was 213 fa122" 205J. Ihe numbw of e(rployees wt#)se Isalay other layabie benefits) £60.OJO Of 23 2022 £60.1 -£70,fP)Q rro.007 - £80.000 £80,001 _£.000 £90,001 - £1W.O(Y) £100,001 - £110.IX £110.001 - £120.C( £120.th)1 - £130.IxKI Durlng th8 yw confribuliors arnourti to (2022. L7.153) mJe fort trughEr pad Empbyees the Teacheffs .pSKIn Sckne. 10. Governots The GoVem0 reNe{l reffiunerat#)n orother ben*fitsdurfr¥J the year. aid £nil expewLxes wtre reimbuts& to Govemots (2022. £nN of8xpw>ses RJrnbtttE8d lo Govenw).
THE KING'S SCHOOL, GLOUCESTER. NOTES TO THE,FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ÈNDED.31 JULY 2023 11& T*blg Flxed Assets (¥oup and School FJxlur85. ffitllngs & equlpmem Uiid•r olor vehicles buildings Total At f Awt Additions TraAsfèrs Oisposals .lQ765.t95 212.818 J71,525 1131,376) 171.525 103, 1171.5251 1,487.128 150,594 IZ&25 26.394 12,436,673 493.706 1131,3761 At 31 July 2022 11.018.162 104900 1.637.n2 ..L)eprecialion- Z893,742 802.337 190.248 11825 .5.Zlg 3,708,904 452.810 194.3491 Charge for ttie.yw Dispos5 (94.349) At 31 July 2023 1056.676 991515 18.104 4067.365 .Nel book valug .At 31 July 20 7,961.486 103.900 645,137 21.115 8.731,638 At 31 Jity 2tr22. 25
THE KING'S SCHOOL. GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 11b. Freehold and ISehold property Group and School A¢cumuled Valuv 2023 Froehold 014 Bishop'$ Palace Arcloyeacon VAadow Sports Wl Design and ThlOgY Bld¥¥j Sci Lab ission Ha 550.802 1.440,474 16110.856 59,998 SW099 341,73S t49.482 1.034. 109 2030.227 23.613 509,643 308.517 4.05&582 Long leasettold fjxprovemert5 to larKJ and bLrildirwJ$ lea58d from ihe Cter ol &ouw%ler G4h&Jrd.. Jurwor School BldS on Pldo¢k L Ivor Gumey Hall Gouda Way 1011.494 681714 71242 1767,450 1,184. 103 574,907 1, 759.010 sIrt leas¢hold imPfD¥emerts to Iwj aTrJ bulhjiS leased frn the Clwpter of ouC8st C4tldra other parti85.' Finches H1 Kry's School Hoe Litye Qoister House War¢le Paddock Tre-S Pltt Stre Coach HoLe Dufverton House {e¥dLKJirg fLrnitue KI littiros) Paddo¢k Cor pa Dev)pt Music Roorn- 3 & 4 pitt Street 7 College Green 29.160 97.747 17.037 145.72Q 13.988 29.682 1.85QS 141,271 61,797 19.647 1811648 11.121062 24,95 80.567 4.489 qOi.889 81.039 20,3T3 1,733.822 728,853 5&620 19,647 2,25Q.794 8.065.386 The tota cost of tha Dthverton Fbjuse f¢de¥ePrnE ¢dIfig fixturgs ar fitknrrfJ$. wa6 ,226.005. The lea5ehokJ ppety Is IsEd from Chapter of GlowsiwCatldra rtnw&Jlg 20 year leases. Ihe lease cOrnMcl) on 1 January 2014. terns pmvldefor ILkl repar9 liability and at MIS Endep&4 revi8JJ at 5 yearty intervals. The rental vdutr of tts rene0 lease is setat £1,775. Foyrrnemb•s of the board of Governorsv on behalf of Ch•lw of GI0ester Catra. ri The Sctrool occwjses Paddock LaTrJ is owwj by Chapter of Gloucest Cathedid. Thè Selwl Iw ted bihkjings themn the lattrf$ consent. The Chapter of GIoLfeStw Cat Iws grdwled 8 125 ye¥ kase. •xpiriw¥J on 31 December 2134. lavour of the school_ Tho r•rt payable LUKler Ihe le88e was £19. pera¥Mrn for tF pwnd (l JarnJ8ry 2014) to 31 C8mo*r 2018. increasiry to £21.414 per anrun farthe perfod to 31 December 2023. The $¢hool aL50 oCPe$ Yart a 13 year lease frvm the Chapler of Gloucestw 26
THE KING'S SCHOOL. GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 CatMdral. Tr wlèr thi5 18as• is £8.764 pw arYK 12 Fixéd Ass•t In¥estrnents 2023 2022 Quoted irr4eslments at mJket 1 AL¥JusI Z)22 Unr8alised Uossygain 93,551 94.587 Quot ieStm¥S at mket ue 31 Juty 2023 91.7Q3 93,557 Cost 10.4fyJ 10,400 Jctea irNostm8rts at m•t vatuè l AUgt >)22 Unfealised Oossygwn 93.S51 94,587 in¥•stmits at ¥4tL 31 July 3)23 91.703 93.551 Slwes subsidiary tradirq corhV•ry. at ¢o$t Co Th6 Sehool of the ordinary $lwes kn tts S1$1dlY S0 Enterpii5ts LÈmited. company JmbeT I)29389)4 Tncotporaled in ErJlaThl. tknich is a tr>Jing ¢ornpary sdlir¥J $8rvic85 and go>Js lating io the SclKJol. 15 pthtipal place of bu$[rS 15 The lfjr¥J's School GIoLes1¥, Piti Strpet. Gloucester, GL1 28G. It covenants its taxle PfitS1O th? Schjol. Is trddin9 res, extracted its alitl firAncial statemerts ere.' 2023 2022 Tumover Cost of sales Gross profit Admink8tratson expeS 96.658 4,134 92.524 144,3081 52,391 48.701 (18.571) Oper"ryJ prDfll 48.216 Grrjss tttveront to Kk4'$ Sehjol. Gtouc•stw 4V161 (30. 130) RefaMd pfit for ihe y 27
THE KING'S SCHOOL, GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 D•btors Group Sel01 2022 2023 2022 Trnde debtors Other debtors Prepaym8rrts ancl (rtome ArnoLKts owed try grnup comparmes 364.592 41995 .296.827 374,837 54.361 336.038 92. no 352.261 43.995 296.827 S4.361 14. CredltDrs: amoub)ts falling due Tmthin t)ne Group Scho 2023 Z022 2rJ22 Bank loan Other loans TBJ& Credito Taxes and so¢ial sKurity ro$ts Pension costs RefuTrJable fee deposits AdvCe fee payriients Fees re1Ved in adva er creditor5 Accruals deferred [rorne 23S442 231.421 23&442 237.421 160.989 157.188 80.383 Zl8.836 231.754 14a943 71 274.118 197.597 478.&59 722&5 16Q989 f57. 188 80.383 27&836 396.896 33&922 29.331 362 172 231. 754 148,943 274. 118 197,597 478,559 77,605 338,922 370.591 1& CrEditois: anounts falllng due after rnore Ihan one year Group and School 2023 2022 8ank loan Bond Olhw iogns Advance fee payments 1.fj31526 1,519.300 1.267.870 1.519.300 142 .1427.838 The bank SeG by IT of a lirsi bjal cwe dat*f 26 October2001 over the fhobI laTrd énd b{dIr95 atthe S¢hJol playir@ fidds, Ar¢l¥Jeacon MeadDw. Sl Oswal¢Js Road. GIDucesler. 15 aL80 a legJ CA¢ dat 26 October 2W1 over the fReId land bldJS at ord 8ishops's Paac8. Pill Street, &owMter. The bank dso have a tN"rtl loJal ¢harg& dat 30 April 2019 over frethDld prop•ty kno as Mission Part( Strt Gloucester. 28
THE KING'S SCHOOL, GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS,(CONTINUED) .FOR THE YEAR ENDÈD 31 JULY 2023 .Th9re Is a fourth Jegal clwg• dalel 26 Jarwary 2021. Is.a flo¥ing clba.rge ovw all property OrOrtakI of.th8 COrriP¥ry. 1& Credttors: aniou llIng (kn alr.rnoTe than one year Iconttnuedl Th• ScItsl Is51 thffjh tre intwrr"Jw ofAllk8So¢ia trnpt knvèstments" Lited. a b"orKI totslliro £1.519.300 payirrfj a yldd of M%. Thp bond is rnpayab]e on 27 Febnury 2027. (Jhèr to are'due to a SclKJol TNste& kwt'is clmrgéd at 3%..The kj 4va5 rek)l In the ye. Mabjrity of loans Group School ¥Jlthln one year Bank low Cher loan 24442 231,421 èank • wlthin tt¥o to fr• > Bank lo Bon¢Y Du¢ in mort tr4n ffiv¢ >ars Bank Jo 220.328 235,442 300.210 1.519.300" 338,718 512.988 693.710 1,519.3 In8.26B ,3.G96,091 1& "Ath7anc• Fqe Pawnents .'PaFErts may enter uilo a ¢ontTXtto pay th? eqLllvaent of at least yews, ttitson fges n adv The rnoroy may be rEtUfned SLj&rl to spe¢rfic conditions oft the .r¢c•pt of orw t•rni's Assunlw pupi15 ?11 rernan In the school. advCe fees WUI be applied as follow5.. 2023 2022 Gr•ater' 5 yea Witth 2 to 5 y03 Willxn I to 2 years 129.241 3S9.046 152. 381 640, 668 197.597 345.166 871894 .396.896 Wilhln 1 year 1.261790 Tl bakn¢erepreserAs accn¥d liablityw•Jtt the contrxts.Tr movemerts durry ttyè e. BalaKè at 1 Awus12tr22 4 payrnEnts Arnowrts accru to cortr a5 debt4*ing co$ts 838.265 1,sn 30,343 1.640.181 16,078) 364,313 Amotrts rdur#Jed AmoLrtS Lrtilis•d in paymèrt of lees Balane• at 31 July 2023 29
THE KING'S SCHOOL. GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 17. Anal1$ ol N¢t Assets Brfw¢en Fund%- CyTht y Unresthcw fvnds fvnds Total Group Tangible fixed assets tnvestffjent5 In1.638 91.743 161.154 4TJ1.638 91.703 178.062 720 16,908 LorvJ t8rrn llability.es Unrestrlct¢d R•strIcd fvnds lunds Totsl School Twvjible lixed asstts In¥estmerrt5 CUtrT#nl 355ets LorvJ tern liabilities 731.638 91.700 160.372 r442S7201 8.n1,638 91,706 1TI,280 13.425,7201 16,908 Analysis of Net Ass•ts PAt#•n Funds - Prityry UnrBstricd ReS¢t¢d fvnds fvnds Total oup Tangible fixed assfjts Inveslmerts Nol CWTert assèts Lory term liabilities 4577,629 93.551 94.491 rJ.427.838) 8,577.629 93,S51 111.254 (1427,838) 16.763 nds tund$ Tofal S¢hool Tangibl$ fixed a55ets vestrn•)ts - restated Net currenL assèts Long term liabilities a577.629 8.577.629 93.554 110.472 (1427.8381 11763 f4427.838) 5.337,054 16. 763 5,353.817 30
THE KING'S SCHOOL, GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 Rostrleted Fund&. in thè Y•ar G¥ins o Investrnentsll ransfers Balanc• BS at 31 July 2023 ar l Augitst 2022 Incomo E¥peThlith Pdze & S¢$1hlp fLTh1 Bursary fund Sports fund Computer Science Equipmont Annual Fund Art Scholar5 Furyl Alum EtronlG ArcNve Art fund E-Reade Classroom Accessories Wardle Fbu5e Gaff S¢hool and restrActed frJnds 325 3.363 278 1.080 41 41 335 256 335 T.478 V,3221 121TJ 1.025 1200 270 226 51 270 187 176 4271 14.2321 Grow 7.314 908 The Prfft S¢holw51Np is forthe prov10 of prize5 s¢)18r$I.p9 forpwik5 at Sch¢)ol. GI v•ittrrin this tl Srt£ed charity. ltirg's School Proe and SClarShIp FLth)J. Dtyin9 the year tha sclb)lship dwnent of trfd had be fully 8Kper6ed, ard thereforo going fo this furJ will be amed Tr PrEe FuTrJ". The Bsnay Fund is lorthe provisY)nof financsal assi5e foithose psjpls at School, or due to start Ihe SC01.)$efamI1Ies fafienon drff1cu1tbmesorvd0Ikn1?se tse unable toxfford theeducatir the SGh)ol. The Sports fuTrl is from dondor6 to improve Sports fxilibes ar01 the Sclwjol. The Computw SciwL Equipmthtt fuThJ Is l¥om dI)natn5 IovRTds MPUter Scler wulpmw The Amual Fur4 1$ aymjal fthdrni5irrfJ aetivity ior specrfic pwses. Thg Art Scholars fund is to 1p fatilitat8 eost of Art resou to albwstthlonls to be as creative as th8y desir. vhu15t also funding visits fTOrn irn5piring artts at the School. The Aumni EltIDI¢ Arcli¥efuThl 1510 be used forthe el8Ctrordearhfvfjr& ol previti Sthool yewboovs, The Art ld 15 frDm donolioTrs trj be io Fir Art dasses. In marory ol John Mastets. The E-Read5 fwxl isfromdonatiorswlth Ihepurposesof prowdiro 8l•ctrorllc rBading aidsforclassroowo. The ClassroDm Acce550ri0s fund is from donations to abj in tts purchase of matlat$ to er4wn¢e the leaming Èxptiie ai Klng's. The Wardlg Hou50 Gwden Is fmm tJor&**)rs with puposè of existir¥J plants V4itlun the Wdrdle gfDundJ.
THE KING'S SCHOOL, GLOUCESTER NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE.YEAR ENDED 31 JULY 2023 18a Rethct•d Funtts: lJlo¥emÈnts in thè Year {eOntinoI . Restrlcted Fund& Iltsvements in thg Prior y. 8alan¢ gs at 1Aowt 2021 Gains on Bal•n¢e as 4t 31 July 2022 transfvrs Prfz8 & Scho15hp furKI Burnary fufyj Sports fund Computer Scnce Equiprnert Annual fuTr Wardlè House fittid Art Scholars Fd .UuJic fund Art fund E4eaders Qassroom Accessoiies Ouldoor Lewning Wardle House Gden School and Group r•siridÈd lu"nd$ 159.921 11.605 4410 1.051 {156,525) 111.67T) 11.8921 11.036) .4411 {4410 41 4.193 41 5fj5 .{4.212} (39.3381 .7.478": $621 &2 5.2QO 270 1.787 1.134. 417 {1,600) {1,1341 (2411 176 23 18b. Unre¥ldctsd Funds: IAo¥*ments in the Y 8alwKe as 8tIAwt 20Zd as•t31 JlY 20Z3 ExpdI1Ure TraTrsfÈrs G•n•ral fvnds School fvnds Non charttabl¢ ldin9 lund$ 4337.OS4. 4337.054 11245, 1124SSfy) 11024 618 (11024.618) 5.55r.996 455r,996 196.6581. 12 121 276 Unrestrlcted Funds: •Aovem•nts in th• Prlar Year Balance a8 at l Aug4kSt X121 Balanc• as at31 Transfers thjly 2022 Incom• General funds School lunds Non charitablè trading funds 4.976.613 4.976.613 1{1.1.643 10,$91.643 110.280,162 ' {10,2811.1621 9fjo 5.337,054 5,337.0 $1391 $13911 Group io 32
THE KING'S SCHOOL. GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) .FOR THE YEAR ENDED 31 JULY 2023 Penslon S¢hwn• Ckn 31 Ats3USt 2021 the School opted to ¥AtXjr Imm Ihe Teachw5' Pwffjion sther fthe TrS"I and $0 going lOard, corknibthions wll ro lor¥Jer be payab to t TPS. The pwtsion chargè lor the year inckjdes n'buor Payab to the IPS of £M'I 22." £370). From Seplunber 2021 the sc01 mcsved to an AVIVA scheme, for boih r¥)Trteachiro staff and tsachw5. Employ contribulions to tlxs scheme the year tolaled £367.557. At the of the year £80.383 wa5 accrued In respect of JLty'5 payrul. 20. Oporatlng Lease Comrnifments At 31 Juty2023. the Schoolw futL¥B nImItintsWth) Mfvcanceliable operatbN kases as follokns.. 2022 Other Expng wthin one year Expilng between one afvj fNe years Tot 94833 297.433 393.266 97,897 209.828 307. f25 21. In 2022, ScTrK>oI charged É33.331 r21722 £1 1.731) lo Serfo Errterpiises Limitad fortlE provisi)nof staf and &lministi3tNe savices. The lo School at 31 JLdy 2023 wa5 £92.7TO (20Z2: £52283). The spouse of a govemr ved a sa¥y of £1&117 rn722' £21,87W for Ir employment ts t98ch8r by the sthool. fin21 Sdxjol w¥J<took thefolloMFytrwwcti0r1Ile a Goyemr, oia cb relabon to the Gov8FrL)r. 15 0 as a DItOr of the compary: Debbie In. £1(KJ lor safegLtarrting cor£uknty wvi¢es. rles Dunkley, £1.W clwg&l by sYX Ud. a compwy LnJer lis contwl. forpln badg A rnmber of9overmWe aso trwsteos 01Chap1# of Gbuuslgr Cathedra a1 the Schoolenlers Into a ol ams ith trarSxtso th thè Cattalrzl. 8ond options a still retair by Govemots S&Mor IAanagernpA to&illing a value 01 £521.300, generatirtg inte1 payable ol E5.. of tiich £4.838 has been grftql back ¢0 the SCIOL Additionalty. a sepa¥ale of £17. fortr OLfverton Trdevelopment Imth a &Iverr had been sted duriTrJ yw. trHS lo gknrd Q131 p¥yablo durirvJ the year. tlis was settl&J at ts poTrnt of redemption. Capital ¢ommilm•nt At 31 Juty 2023 tho SCI1 h•J othslandl rthowi5•J 0)rtraLl cornmbtrnen¢s In pecI of capit prolg¢ts toialliry £301,3$2 f22. £7. 784). 33
THE KING:S SCHOOL. GLOUCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 Comp•alive SOFA Total 2022 Funds Funds Income and wdowments from: Charitabl arttvities Scmol fees Ancillary trrThJ Othw tradlng a¢livlttes other inwmiry resoL5rce5 Tftdiny tLwrK)ver- Stho EnltseS Inveslments Invesimtnt irteome Voluntsry" rs Voluntary irorne 9.835.752 689.410 9.83&752 689,410 44.396 5Z391 51391 8.867 4867 13.218 120g4 2&312 Tolal incoming resources 10.6H.034 12094 la65&128 E4Jèndbr8 on: Raising fvnds Serfo Ent6YPri58S tr•JityJ G05ts FuNJrnIs9 cost5 - Otr Finance costs Total dedudiblè Costs 22261 9,061 IOT. 162 138,484 107. Y62 138.484 Charitabl• actlvlties Education and grant making costs 1Q194.tE9 178.X17 Iq37Z376 Total expenditure lo2 17a307 IQS10.860 Net incomlng Yunds from ¢peiatiOn5 bef¢ transfe and Invesknerf n$ 311.481 (76&213) 144268 Translw5 (48.960) G•in5 on inveslmerts Nat rnovem•nt In ffijnds for th¢ y 360.441 144.232 Ftn"d baL4)eds as at 1 AV$t 2021 4.97T.392 232,972 &2fO.364 Fund balances as at 31 July 3)22 34