Cornpany Registration Nts. 04258359 Registered Charsty No. 1088415 Wakefield Grammar School Foundation and Associated Charities STATUTORY FtNANCIAL STATEMENTS foi the year ended 31 July 2022
Company Registration No. 04258359 Wakefield Grammar School Foundation and Associated Charities FULL DETAILED FtNANCIAL STATEMENTS for the year ended 31 July 2022
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 Wakefield Gran)Inai' School Found21ion is a charitable company liinited by guarantee, registered in England ai)d Wales. Nie GoveTnoi"$ of the Wakefield Graininar School Foundation arc th¢ dir¢¢tors of the conipany for Compani¢$ Aci puryoses and in charsty law. Throughout this documeiit the following abbreviations are used.. Queen Elizabeth Grammar School - QEGS Wakefield Girls, High School - WGHS Wakefield Grammar Pre-PreparalDry School - WGPPS GOVERNORS, DIRECTORS AND CHARITY TRUSTEES The Governors of Wakefield Grammar School Foundation who served in office during the year and subsequently are detailed below. Co-opted Governors Mr S Cliamberlain 12 3 4 5 6 7 8 (Chair of Governors) Mr S Butterworth 13 7 8 Ms J E Claire 3 4 (resigned 3 March 2022) Mrs E Jones 12 Mrs F Galbraith 2 4 5 Mrs C Harrison 13 9 MrJJelfries12789 DrSKhanl 38 MrJLewisl 39 Mr l A McKinlay 3 6 8 Mr8HMassey2678 Mrs K Morgan 13 8 Miss E C Peckelt 2 6 7 Mrs P Plumpton 2 4 5(Safeguarding Govemor) Mr M Shevill 13 {appointed 20 October 2021 } Miss A J Tetley 2 S Nomin8ted GovernoTS Canoi) J Rliodes (appointed by the Chapter of Wakefield Cathedral on 3 March 2022) 2 3 4 8 MeEnber of Finance Cominittee Member of WG14S Governor Educaiion Committee Mcjnber of QEGS Governor Education Committee Meiiiber of WGPPS Govornor Education Cominittee Meinber of Risk and Coinplian¢e Coininilt¢¢ Member of LAnd and Buildings Committee Member of the Strategy Committee Governor with children in Foundation Schools Meinber of hivestineni Coinmittee Pge J
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 KEY MANAGEMENT RSONNEL Director of Finan¢e and Operations Mr L Perry {also Coinpany Secretary) (resied July 2022) Mrs J Cocker {als(> Company Secretary) {apy)inted 25 July 2022) QCGS Head WGHS Senior Scliool Head WGPPS Head DT R Brookes (appointed I Seplanber 20211 Ms l.l-J Boycs Mrs E Gill ADDRESSES QEGS Senior School 154 Northgale Wakefield West Yorkshire QEGS Junior School 158 Nortligate Wakefield West Yorkshire WFI 3QY WFI 3QX WGHS Senior School Wentworth Street Wakefield Wesl Yorkshire WFI 2QS WGHS Junior School 2 St John's Square Wakefield West Yorksliirc WFI 2QX WGPPS (opened 2 September 2021) Margai'et Street Wakefield Wesl Yorkshire WFI 2DG REGISTERED OFFICE AND PRINCIPAL PLACE OF BUStNESS.. Wakefield Graininar School Foundatioii Governors. ocfice Green House 158 Northgat¢ Wakefield Wcst Yorksliire WFI 3UF BANICERS: Barclays Bank plc Trinity Walk Shopping Centre Teall Way Wakefield WFI IQS Svenska Handelsbankej AB (publ) Unit 10 Navigation Court Wakefield WF2 7BJ Nationwide Building Society Busiiicss Savings Cominercial Division The Observatory Chapel Walks MBnchesier LLHL_ SOLICITORS.. Newtons Solicitors Unit 8, Calder Close Wakefield WF4 3BA Gordons Riverside West Whitehall Road L£eds LSI 4AW Piyge 2
Wakefield Grainmar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 AUDITORS: Sgffcry Cliampii¢ss LLP Miti'e House North Park Road Harrogate North Yorkshire 14G15RX STOCKBROKERS., Julius Bar International Lid Thc Platforni N¢w Station Street Leeds LSI 4JB Rathbone Broiliers PIC Port of Liverp)ol Building Pier Head Livetpool L3 INW The Governors present their annual report foi. the year ended 31 July 2022, under the Charities Act 2011, tog¢tlier witli thc audilcd tiiiancial statemeiits for the year, aiid confinii that the latt. coiiiply with th¢ requirejnents of Ilie Act, and Repoi'(in& by Cliarities.. Sialeinenl of Recoiiimeiided Practice 2015 applicable lo ¢l)alltie$ pr¢paiing Iheir accounls in accoi'claiice with the Financial Report Standard applscable iii Ilie UK and Republic of Ireland (FRS 102). DEFINITIONS Iii these financial stateinents the following expressions shall liave the ineaniiigs set out below.. The Foundation - Wakefield GI"nar School Foundation, Company No. 4258359 Registered Charity No. 108841 S and, under the tenns of a uniting ol'der, Wakefield Graininar School Foundation Endowed Lands Trust. InCoorated by Royal Charter 1591 {as ainendcdl, Registcred Charity No. 1088415-1 W.l.S. (Education) Liinitcd, Coiiipajiy No. 2737083. The Foundatioi) aiid its Subsidiary as iioted above. Board of Governors of the F()und8lion Subsidiary Group Board HISTORY AND ST ATUTORY INFORMATION Wakcficld Graminar Scl)ool Foundation, in the City of Wakefield, West Yorkshire, was founded by Royal Cliaitcr of Her Majesty Queen Elizabeth l in 1 $91. Up until July 2001 the Foundation was regulated by a Scheine made under the Eiidowed School Acts 1891, as varied by 5cheines between 1893 and 1997. From August 2001 the operations of the Foundation. with the exception of its pennanent a)donent, were transferred with the approval of the Charity Coininission and the Privy Council to a company liinited by guargtiitee called Wakefield Grainmar School Foundation. This was incorporatcd under Il)e Companies Act 1985 on 24 July 2001. The Articles of Association of the Company suppletnent the Royal Charter and replace all the intervening Schemes as the Governing Instrument of The Charity. The Pennanent Endowment of thc Foundation, consisting of the original school sites purchased in 1854 and 1878, togetlier with other restri¢t¢d filnds, have remained part of the original Charity now known as thc Wakefield Grammar School FouT)dation Endowed Lands Trust. STRUCTURE, GOVERNANCE AND MANAGEMENT The Governors deteriniiie the sh'ategy and general policies of the Foundation and its Schools and meet as a Board thr tim¢s a y¢ar. Tlie Governors discharge their responsibilities through a Coininittee Structure which covers all aspects of Foundation adininislration. There are cominittees for Finance, Inv¢51ment, L2nd and Buildings, Risk and Coinpliance, Strategy and Governor Education Cominittces for each individual Page 3
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 school within the Foundation. The Board nornially consists of nineteen GOvlOr5. Of tlie nineteen full Governors, eighteen are co-opted ai)d one is nominated by the Chaptcr of Wakefi¢ld Cathedral. The Board of Govemors has respoiisibility foi. ensuring that th¢ Boai'd contains ineinbers wilh Ihe skills and dedication necessary for the operation of an educational Gliarity, wliilst representing fairly the interests of each school in the Foundation tog¢thcr with thc intcrc%ts of the local comniunity. New Governors, other than iiominatcd Govcrnors, arc sel¢cted if possible fronTr 8 pool list inaintained for this purpose and are aL)proved by tlie Board prior to appoiiitinei)t. Govemors arc appointed iiiitially foi. a period of four years and ean serve for a mRxiinum of tliree foui'.yearly tenns. The Chair of Govcmors and Deputy Chair of Gov¢mors ar¢ elecied annually at the AGM in October. New Governors arc iiiduclcd ii)to tlie workings of the Foundation and its schools, including Board policies and procedures, dui'iiigy ai) induction sessioii ¢onv¢ned f(Ir diat puryose. New Govemors, wliere appropi'iatc, are provided with a Governoi. Inentor for th¢ fIL y¢ar ()f their appoinbnent. All Governors are encouraged to attend appropriate training Courses wlii¢h typi¢Jlly include principles of good governance, safeguardii)g children. iiianagiiig hcaltli and safcty, fire safety and iiianaging the charity finances. Tl)e Board iii conjunction witli the Dii'ector of Finance and Operations aiid Ihe Head teachers scts tlie strategy for thc Foundation. Th¢ Eiiipleinenlation of Ihe stralegy togeiher with the day-to-day Inaiiageiiient of Foundation s¢hool8 ]% delegated lo the Director of Finance 2nd Operations and the Head teachers who. in turn, are suppoi'ted by theii" Seiiior Management Teams. The Director of Finance and Otrrations atl¢nds all iiieetings of tlie (toverning Body's Con)iiiillees. The I'anuna7tion of key ]nanagllent persoiinel is set oil scalcs d¢tcrniin¢d by the Boai'd, with the policy objeclive of providing an appropriate incentive to encourage enlianced performance and uf rewarding t11ll fairly And resp)nsibly for their individual contributions to the Foundation's suwes8. The appropiiateness and relevance of the reMlln.at10n scales are reviewcd pcriodically to ensure that tl)e Foundation remains sensitive to the broader issues of pay and einploynient conditioiis elsewhere. The Foundation aims to recruit new key management personnel at the lower to rnediuin p)int wiihit) a band, providing scope for rewarding excellent perfonnance against objectives. Delivery of the Foundalion's charitabl¢ vision and purpose is piiinarily dependent on our key inanageinent Ponnel, and staff costs are tlie largest single element uf our cliarEtdble expendilure. Details of Governors, Officers and Advistsr$ are set out on pages l and 2. The Foundation carries out periodic pareiital surveys. A full, detailed parental survey was carried out in D¢cemkr 2021. Parental feedback 18 also sought on occasions, the last time being in January 2021 to assist with decision-lnaking regarding the new pre-preparatory school. Staff are able to contribute to decision Inaking priinai'ily through tlie tern]ly meetings of the Foundation's Joint Negotiating and Consultative Coininittee. The Intillg is cliaircd by a Gov¢rnor and attended by the Heads and two representstives froin each school. The Charity has a wholly owned non-charitable trading subsidiary. W.l.S. (Edu¢ation) Limited, whose activities and trading perfonnance are detailed in the notes to thesc accounts. Foundation schools actively support the attainment of the highest standards in the indepeiid¢nt schools sector through mrynbership of relevant representative organisations being the Headmasters. and Hcadmislr¢¥stts' Coiifcrenee (HMC), the Girls, Schools Association (GSAI, the Independent ASlation of Preparatory Schools IIAPSI and th¢ Ind¢pcnd¢nt Schools, Bursats Associalion (ISBAI. The Heads and the Dircctor of Finance and Operatioiis also attei)d regional groups of independent schools to share best practice and provid¢ support when required. Page 4
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 Foundatioii schools work witli Jrgional aiid natioiial charities, ainateur and professional sports teains. local Inusic 'DupS and orchestras and oilier organi8atioiis to widen public access to tlie educational, cultural and sporlinb facilities the schovls provide. 11)e LTenth'osily of a nuinber of Supportive and aluinni orgaiiisalions is much appreciated and &Tatefully acknowledg. AIMS, OBJECTIVES AND ACTIVITIES Wakefield Grainmar School Foundation 18 a Company limited by Guai'ai)tee. It Is also a registcred charity. The object for which the coinpany is established is to advance education by the provisioi) of a scliool or schools in or near Wakefield or elsewhere in Britain and by ancillary or incidental educational activit¢$ and other clssocialed activities for the beneflt of the community. At 31 July 2022 ihe Foundation coinprises a boys, scliool (Queeii Elizab¢th Grni]lar School), a ¥ii.Is' school (Wakefield Girls, High Scl)ool) and a cD-educational pre-preparatory scliool (Wak¢fi¢ld Gr8iniiiar Pre-Preparatory School). Both QEGS and WGHS take pupils froin age 7 Ilirough to aLFe 18. WGPPS offers places from nursery to age 7. The Foundation's vision is to npower long lasting contribulioi)s to society tlirough a sliared joy of leaniiiig. This vision is supported by a inissioii lo provide educatioii iii a supportive, eiigagiIig and iiiclusive environiiient th(11 inspires young people to develop their abilities. streiigihcn their cliarnctcr and fuifsl their potential. In February 2011 the Governors agreed a 5 year strategic plai) which was subsequently revised in 20 5 3 and agaiii ii) 2017 ld now covers Ilie period to 2022. Tli¢ sti'jlegy oc the Foundation is lo develop and maintain iiispiratioiial leaniing? eiivironments at Queen Elizabeih Graininar School and Wakefield Girls, Higli School, WEth thc schools focused toward% th¢ di%tinelive needs of boys and girls. A detailed strategy for the next 3 years ss in the final stages of developinenl and will be underpinned by longer tenn strategic aims reflecting tile aiiibitions and objectives of the Foundation. The schools will develop tl)e potential of. and proiDote educatioIial opportunity for all those with Ilie academic ability to access the curriculum, by encouragingF the pursuii of excelleiiLe, providing high quality teaching, outstanding pastoral care and an extcnsivc range of extra-curricular Activities. They will embrace as widc a cross s¢ction of the community as possible and support pupils irrespective of their social or ccoiioinic back.0vI]d. The Foundation has lo inainlain its pernianenl endowinent. which consists of a number of trust fuiids l)cld for the provision ofbursaries, scholarships and UCational pnzes. Duriiig 2021122 the focus has been on the continued achicvancnt of acadcini¢ p¢rfornianc¢, ensuring access to the education provided by Foundation schools is Inaintaincd as wide as possible, ejnbracing rther the use of technology in teaching and learning, and iiiiproving the schools, facilities and access to them by the local coininunity. A number of classrooins and coinmon areas were rurbi8hed or renovated but there were no major capital projects during the year. In January 2018 th¢ Foundation, after inany ycars of detailed plk)nning and negotiations, completed the puirhas¢ of th¢ sitc of th¢ forJn¢i' Clayton Hospital from Mid-yorkshire NHS Trnst. Outline plaiining pcnnission to Clear thc Inajority of the liospital buildinLFS was granted in July 2017 subject lo a nuinber of conditions. Following w(>Tk to discharge these conditions, approval to coinmence dn0]itIon was granted in spring tsf 2021. Deino11101] began in June 20212nd was completed at the end of Decejnber 2021. PUBLIC BENEFIT Wakefield Grammar School Foundation is a charitable coinpany whose priinary objective is to provid¢ ali educaiion to children aged between 3 and 18 years at four schools in Wakcficld. The schotsls aim for excellence in academic achievement in addition to allowing the children to develop in an ¢xciting and Page 5
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 stiniulating enviroiiIn¢iit. It is the view of the GOV]10l5 that children from all backgroundg should have the opportunity to att¢i)d and bejiefit froin the Foui)dation's schools. When planiiing our actiMtie8 for the year the Foundation has considered the Charity Commission's guidance on public benefit. Bursaries The boundation provided financial a$sistance to 275 pupils in 2021122 1301 in 2020121). This represents 15 /0 of Ihe 21122 average tolal school roll of 1,861 pupils 1160/y in 2020r21 }. The Inonetary value of the fiiiancial assistance was £2,222k (£2,288k in 2020121} which is 10.40/0 of the total fee incoine. Financial a8SlStance is given in the fts17 of butsaries, short terni awards to relieve hardship, and support for unifonlls, travel to school and for educatioiial tTiPS. Tlie Foundation also has a nuinber of iyiodest scholarsliips wliich are used to acknowledge pupils, academic or sporting excellence or provide financial assistance to certain qualifying pupils. Biirsaries are t)pically provided to pupils wlio Fneel the schools, aCadnIC entt7nce criteria as a reduction in scliool tees, Inost awards are ijade in a range of between 250/0 aiid 750/0 of ltiOn fees The majority of the bursarial support available is in the two senior schools. Tl)¢ level of bursary ihal may be offered to a pupil is dependent on the financial circuinstances of the cliild's par¢nts or legal guardians. The Foundation has agreed cut off levels at which bursarial SUprt inay be offercd. Th¢ Fouiidation cffectively as8esges after tax household incoine wliich will iiiclude a Ilotional iiicome based oil gssets, iiivestinents aiid equity in property and/or a business where applicable. An allowaiice is also given for any otli¢r cliildrcn ii) thll tiikne education. Frorn Septeinber 2019 bursaries are available where household iiicoine is below £50,000 having been iiicreased frotn £40,000 prior to that date. Inforniatioll on how t() apply for hur%arie8 18 provided in the schools, prosp¢ctus¢s alid on tl)e Foujidation wcbsite. Bursari¢% are principally awarded in year 7, alihough applicants froin parents are welcoine at otlier times if financial circumstances cl)ange. WGHS Senior School otters a turther tree place, the Hepworth-Knoll bursary which 18 funded frotn the sale proceeds of tw(> sculptures by fonner pupil Dame Barbara Hepworth and a legacy from Miss Margaret Knott, a popular, long-serving fonner Headinistress. During thc year, QEGS rC]Ved a generous legacy gift from the fainily of Anihony Albert Denton. The legacy will be hcld as an endowment and li) future years this will enabl¢ a 100 /. ftsnded bursary to be inade available to a senior boy. All bursary awards arc th) cairied fonvard throu7 a pupil's tiine at the senior scliool until he or she leaves. subsequ]1 to tlie initial awaiLI of a bursary, the pareiits or legal guardians of recipients of awards are requested to fill in a financial questionnaire each year and provid¢ do¢uinenlary evidence Ilial their incoine is still within the qualifying paraineters. It should also be notcd that the re¢ipienls of the free places also receive financial assistance with the cost of uniform, travel and school trips. Recipients of other bursaries le.g. 75Q/t reduction off the full fs} Inay qualify for assistancc with uniforni, h'avel aiid trips depending on their particular individual circumstances. At 6th fonn level, additional bursaries up to 75Q/o for 2 yeat3 may be awarded to pupi18 requiring financial assistance who are joining from a school outside the Foundation. or lo existing pupils whose parents are experiencing financial hardship. Financial asslstance for pupils in the junior sections of the s¢liools inay be offered on a limited basis. Fee awards forjunior school pupils inay be offered at eithcr a 25 /0 fee r¢du¢iion or a inaxiinum 500/0 reduction. It is the view of Governors that the best use of the bursary funds available is lo provid¢ gr¢ater financiBI support in senior school when the pupils undertake exainination courses. Page 6
Wakefield Grammar School Foundation
GOVERNORS, REPORT
FOR THE YEAR ENDED 31 JULY 2022
Partnerships with State Schools
During covid activities witli slate gehools were limited. However, September 2021 saw the recoMmenCnent
of a¢livilies.
Partnershlps wlth State Sehools: ISSP
Wakefield Graiiiinar Scliool Foui)dation lias been involved in 1i)depeiident State Scl)ool Partnei'sliips IISSPI
since Iliey weLE iiitroduced in 1997. This has enabled ineaniiigful collaboiBtion between thc schools in tlie
delivery of Nlaths and Science, professional developinent of teachers and science outrcach to local priiiiary
schools.
Partnerships with State Schoo15'. SHINE
In Autuinn 2016, the Foundalion launched it8 SHINE 'Seriou$ fun on Saturday piDgramme. SHINE is a
Icading cduc8tional ¢liarity whose focus 14 social inobility through u¢tIo11. We are the first school in
West Yorkshire to be awarded a 'Serious Fuii on Saturday, coiitract with SFIINE. 'Serious Fun on Saturday,
is a prograiiiine hosted by indepeiident Schools for pupils from local state schools who Inay be less likely to
aLLess addilioiial educational supporl outside scliool. Tlie project diins to deepen pupils, understanding and
instil a desire lo learn niore acliieved through orrering innovalive, fun, focussed aclivities. Our prograiwiie
at WGSF provides a inajor opptsitiinily for deserving childr7 from goine of the more deprived areas of
Wakefield to further their educ£l1ional developinent and eiijoy an innovative And exciiing range of lessons.
Our priinary partners are Heath View Acadeniy, Greeii Ilill Priiiiary Scliool, St Micliael's CE ACadnY, St
Mary's Primary Scliool aiid Fldnshaw Junior and Infant School.
The WGSF programme involve8 forty Year 5 pupils from our primary partner schools attending the
Wakefield Grammar School Found£ltion Campus froin 9.30am-12.00 noon on eleven Saturday inornings
during tenn time. The learning sessions are delivered by specialist WGSF teachers who are passionate at)out
their subject area and supported by Sixth Fonn Mentors. Specialist facilities and resources are eii)ployed in
each subject area. The Year 5 pupils therefore work in a culiure where excellence and enquiry is actively
encouraged, eslablishing an increAse in the children's aspiralions and self
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 Ilie EBa¢c qualificalion that would not otherwise do so. indeed somo 6 out of 13 Latin entries were awardcd ad¢7,8or9in2018. The H¢8d of Classics at QEGS has also led four trips to Rome for pupils fvoin Si Thomas a Beck¢t whi¢h brings imniense benefits beyond the classrotsm with the reputation of QEGS being enhanced considerably by its associatioii with Iliese trips. Lastly he also runs a Beginners. Latii) for Adults class at St Thoinas a B¢ck¢t on Monday evenings, and the lasl cohort ofadult pupils started in January 2020. More infonnation is available on the Schools Together website= htlps'.Ilwww.sclioolstogether.orglca%e-studiesfPschoolld=71206 WGHS Partnership with State Schools: BanE51ey Academy For 3 years we have been working wsth Barnsl¢y A¢ademy on 8 program to inspire and ¢n¢ourage 8spiration in lenns of deslinalioiis and careers for gifted and able year I I pupils. Ycar I I pupils from B1( msley Academy have attended lessons in 8ubjects they Init be int¢r¢si¢d in pui'suing at A level and we have provided thein with advice, support aiid guidance in tenns of thc subjeets requircd, prepar21ioii ne¢xled aiid recoininended reading towards applications for inedicinc, dcntistry, veterinary aT)d Oxbridge. Patient Liaison Volunteers Workin¥ with our local hospital, Piiiderfields, Year 12 and 13 pupils have the opportunity to apply for h role as a P8tienl Liaison Voluiiteei.. They becorne part of the Mid Yorkshire leain aiid play a ctucial role iii enhancing the experience of patieiils, care13, Vlsitors and staff. They do this by perforiiiiiigy a wide vai-iety (IE tasks throiighout the Trust to coinpleinent the work of our nurs¢s and otl)er paid statl'.-I'he pupils b*el hands- on experience in a hospital environinent and have a huge iinpact on our patient services and life in hospital. As well as the differ]ee tliey Inake to otliers, our pupils dcscribc tlie positive impact being a volunteer has made oil their own lives, helpiiig theii) to ine¢t ncw fiiends and improve their self-wiifidence and motivali(>n, and feeling they have a valuable contribution to niake wliich 1$ eallY appreciated. Pupils liave donated Inany IOOS of hours over the past 5 years of the partnership and have changed the experience of maiiy cldcrly, isolated and hospital bound patients. During the pandcini¢ pupils were oil the front line assistii)g witli teohiiology that eiiabled patients separated froin loved ones to coininllnicate for example using ipads, facetiine and ¥kyp¢. Widening Participation Wc seek to level the playing field for tt]e Inost disadvantagcd pupils through die use of a rang¢ of eASureS that promote widening participation through contextual adinissions aiid additional acadeinic support at 6th Forni. On application to join year 12 following GCSE we have taken into consÉderntion a range of siinilar factors to tliosc used by higher education instittltions including= You are the first generation of your immediate family lo go to university. You attended 8 school achieving below the national average at GCSE (Attainmenl 8 scorel. -your stlleS have been disrupted_by.circumstaRce5 in your persoiial, social or dajllcstic life._ You live in an area with low progression to higher educatioii (see our oiiline p)stcode checker). Usually polar 4 quintile l or 2. You live or grew up in public care. Page 8
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 Our Widening Participation Prograin has been d¢3iLmed to provide support by using acadanic activities and tasks tl)ai piepare pupils for success at A level, bridging the gap between bilily 1£ nd attaininent. A support package for pareiils of pupils from widening participation backgrounds, lo coniinence in Autuinn 2023. has beeii desi&Fned pailiculai.ly lo support pai'ents who did not go to university Ilieinselves andlor those whose owi) experience ofeduLalion is iiot in Ihe UK education sysleiii ineaiiing Iliey need iiiore support iii order to help their child lo realise Iheir potential. We also aim to support parents and guardians to see value iii soine of tlie pc>st 18 oppoituiisties such as liigher education. Towards the end of ihe 6th forni journey we also help these pupils to identify access those widening participation opportunities, contextual offers, scl)olarships and bursaries they are eligible for in post 18 univeisily adinissions. Communlty use of Foundation faellities: Another clspect of the Foiindalion's public benefit provision is in the use of the schools, grounds and facilities by public bodies, £iinateur arrs or sports groups and other charitable organisations. These ups use the scliool buildings or sports facililieg at cost, below cost or in soinc cas¢s frcc of cliai'g¢. Local clubs aiid oi'gai)isatioiis wliicli were able to bei)elit dui'ing the year included YorksliiiE Philannonic Chc>ir, Wakefield Hospice, Wrenthorpe Badminton Club, Wakefield Coiicerl Society, Diddiki¢ks und Cald¢r Valley wood carvers amongst others. Additionally Atlantis Swiinining School hired the QF,GS pool for teacliing children to swim. In July 2007 the Foundation granted a license at no cost to Next Generation, a local youtli group. for it to use t]ie foundation-owned Stanley Royd playing fields in Wakefield for junior sports, priinarily football 8nd cricket. The fields are also used by Next Generatic>n for community events and thcy providc a focal poÉnt for young L)eopl¢ in thc area. Furtl)er to this. in Scptcmbcr 2014 tlie Foundation entered into a fonnal lease witli Next Geiiei'ation for the fields and il)is has facilitated ali aThJ)geinent for Wakefield College to use the fields foi. soine of tlieir sports courses. Tliis lease was exteiided ill 2019. Charity fundraising and charity events continue to be a regular and iinportant feature of school life, ranging froin higli prolilc annual ¢vei)Is, such as th¢ WGHS Clllistmag Charity Fayre and Foundalion Charity Fayre to support for individual chai'ities and pupil-lcd cvejits, most notably cake sales.The schools Charilies Coniniittee play an iinportaiit role iii this, democratically d¢cidin&F which Lh8ritie$ are support each tenn/academic year. Th¢ funds raiscd by tlie WGHS coinmuntty- as a through school froin Septanber 2021 to date are £5,485 The senior sectioii raised £6,670in 2020-21, £10,351 in 2019-20 and £15.123 in 2018-19.The lunior section raiscd £791.88 in 2020-21, £1,337 in 2019-20 and £9,313.33 in 2018-19. In QEOS, th¢ Housc sYstn plays a huge rolc in charitable acti3ryties with each house suppc>rting a local charity.. B¢ntlcy support Yorkshir¢ Childrcii's Charity. Cave support Wakefield Hospice, Freeston sUprI Andy's Man Club and Savile support Yorkshire Air Ambulance. The funds raised by the QEGS coinmunity approximately £4,700. as a through school from September 2021 to dale are The YIO Enterprise Teams also raise money for Fairshare by creating and selling produ¢t8 at the con¢erts and drama production. The money raised goes straight to hclping feed the homeless,. the junior section also raised money in their tenner challenge. Across the two sections, approximately £3,100 was made by the Enterprise teams. Page 9
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 Each year WGPPS pupils, parents and staff noiniiiate tlie charities they would like to fundrais¢ for. In 2021- 22 tliis was Place2be, Candlelighiers gnd Booktrust Iliey fuiidraised £3,070. Sick Cl)ildr¢ii'8 Trust, Horticare and Martin House have been selectcd as the nominated charities for 2022-23. The Governors, the Director of Finance and Opcrations, the Homes Manager and the Estates Manager of the Foundalion provide Iruslee and inanageinent services to Wakefield Cliarities, Homes, an almshouse charity and Registered Social Landlord which provides low cost accoinniodation for elderly people in need wlJo l)ave conneclions with the City of Wakefield. DISABLED PERSONS Due coiisideration is givei) to applications for eniploym1t of persons with a disability, ¢ither in arrangeinenls for attending interview. or for any adjustinents which may be needed when a role has b¢cn offatd and accepted. Arranganents are made, wlicrcver possible, for the relrAiniii¥ of employees who develop a disability during the course of their eMplonlt aiid rcasonablc adjusbnenls are made to allow than lo eonlinue to fulfil their duties. The coinpaiiy provides for the ad¢quatc trainiiig, career developinent aiid pi'oiiiotion ofall staff with a disability. EMPLOYEE tNFORMATIOTrI During the fiiiancial year tlie Foundalioii has EnaintaEI)ed and developed arrangnei1tS aimcd at tl)e systeiiiatic provision of ¢iiiployc¢ iiifoiination, held i'egular consultations so that einploy¢cs' views can be tak] into accouiit, eiicoui'aged employees, involvemenl in ihe Foundation's perfoiinance and strived to acliieve a coniinon awarcness of the financial And economic faclors affecting the Foundation's perforniance. Me¢tEngs arc held t¢nnly with staff representatives on the Joint Negotiating and Consultativc Cominittee IJNCCI in respect of t¢a¢hiJig staff, aiid as required with representatives for the support staff to discuss Illatt affectiiig the Foundation and its staff. STRATEGIC REPORT REVIEW OF THE YEAR AND FUTURE DEVELOPMELYrs Tlie Governors reCOlise the iinporiance of tlieii. govemance stctUre in supporting the operational perfonnance of the school. Details of the training and gy0vernan sliiLCture are included withii) tlie shckIre, Governance and Management section of this rcport on pages 3 and 4. 2021122 was a year of transition out of the constraints iinpoged by the Covid pattdemic. The Foundation was delighted to welcome the retuni of some norinalily and a resumplion of in-school leArning, extra-curricular activities, educatiDnal activities aiid examinations. Tlie legacy of Il)e pandaiiic does however conliiiue. Finaiices had been challcngcd during covid, and this challenge has continued as general ¢coi)omic aclivity has moved towards recession, and inflation has increascd. The Foundation is Inindful that parenis are facing the same difficulties in their private finances and whilst the pupil roll has rejnained strong at 1,861 12020121: 1,851 I we are alert to the financial pressures that soine families face. -The Foundation remains committed to pro.viding. th¢ oppOrntY for pupils_to attend Ffjundation_ sthools regardless of their circumstances. In 2021122 275 pupils received financi21 support (2020121 301 pupils). This represents 170/0 of the pupil body, a small increase from 16/0 in the previous year, a figure that has risen significantly from just under IOO/o in 2005106. Further infonnation on thc Foundation's bursary policy is given in the Public Ben¢fit s¢otion of this repori. Pag*lO
Wakeficld Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 Academic Achievements WGPPS completed its first year of teaching in July 2022. and is delighted with first year results and the progress of pupils. All but I pupil progressed to the junior sections within the Foundation. Once again WGHS ai)d QEGS continued to perfonn well in the 2022 public exaininations lor both A Levels and GCSE. At WGHS. this year's cohort of A-Lcv¢l pupils a¢hiev¢d 60 /0 A to A grades and 82% of results a¢liieved were at grades A to B. 18 girls achieved iinpres8ive inultiple top grades of 3 or more A-l£vels at grade AlA. At GCSE, WGHS pupils secured an iinpregsive sel of resulis wilh 680/0 of all grades lalliiig iii tlie 9 to 7 bi'acket. Furtherniore, 470/D of results were gri£ ded 9 or 8, equivalent to an A One girl achieved grade 9 in all of their subjeets, an extTanely rare and difficult achievement. A further eight girls achi¢ved grade g 01. 8 li) cvery subject. At QEGS, tbis year's cohort of A-Level pupils achieved 50.20/, A to A grades and 77.0% of results acl)ieved were al grades A lo B. 23 boys achieved impressive multiple top grades of 3 or inore A-Levels at "ade AIA. The truly excellent achievement of al least 3 A grades at A Level was attained by 7 boys. At GCSE, QEGS pupils secured a good set of results witli 58.30/u of all grades falling iii the 9 to 7 bracket. Fui'ilierniore, 400/0 of results were graded 9 or 8. equivalent to an A* four boys acliieved gFrade 9 in all of their subjects, an extremely rare and difficult achieveinent. A further nipe boys achieved grade 9 or 8 in every subject. The Fouiidatioi) COlltii)ues to roll out ils digital leaiTriiigF strategy. Chroinebook8 supplied to senioi. school pupils proved to be advantageous during covid home learning aild continue lo liave significant benefit in both the classrooms and to enable further home studies. Extra-curricular offer The Foundation continues to place gr¢at emphasis on the benefits of a broad and inclusive educational experience. During th¢ ycar y¢hools have been able to fully resume a full and varied programine of extra- curricular activities ¢itli¢r off¢r¢d witliij) our tiinetable through the EDGE programine or at lunchtiine or after school. This l)as enabled students to lgage in opportLLnities as diverse as Mandarin and Musical Theatre. The Foundation believes that students gain real benefit tlirouLh Ihe pat1icipalion in these activities and reback froin students and parents supports the benefits of thcsc a¢tivities in improving pupil well- being and acadfflnic achieveinent. Participation ensures that our studcnts receive an excellent rounded education. Feedback is taken from pupils and parents so the sch(M)Is are able to adapt their offer dependent on the interests of current pupils. There are strong links with a range of clubs and partnerships across Wakefield and the wider coinmunity which give our pupils pathways to enable them to contribute in a vast range of clivities. Employees The average niimber of employees across the Foundation was 410 in 2021122 compared lo 455 for the prcvious ycar. Th¢ r¢duction in staffing is predoininately in nc>n-teaching staff. Ptsge 11
Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 JULY 2022 011 l August 2022, tlie foiindation b¢gan a contract foi. the siipply of scliool catering with Holroyd Howe. Cateriiig Iiad previously been d¢lived in lious¢. 37 cateting staff were transferred to Holroyd Iqowc oi) I August 2022. In July 2022, Mr Laur¢nce Perry retir from the role of Dire¢tor of Finance and Operations. The Board thanks Mr Pcry for his 15 ycar8 of dcdicat¢d scrvic¢ alid is pleased to welcon)e Mrs Jenny Cocker as the new Director of Finaiice and Operation5. Estates Th¢ Foundation has the benefi( of a significantbut coinplex estate. The Foundation invests in botii IDaintenance and improveinent to ensure thal an appropriate learning eiivii'onin¢i)t is available foi. all students. Fixed asget additions were £1,528k (2020121 £39 Ikl of which £32k related to the completion of deinolition work 01) thc Claytoji Hospital sitc. The Foundation continues lo ensure that liealth and safety is 2 priority. The Foundation has a robust health and safety manageinent system, with review, inspection and Governor oversight a key part of eiisuring effective compliance. The Inajority of health and safety incidellts reported relate to student slips. trips and falls. During the yeai. there were no repoi'table health and safety incidcnts. Clayton Campus In 2015 tli¢ fnuiidatinn i'eached agreeineiit with Mid Ynrk8liii'e 11(J8pilal8 NHS Trust to acquire the vacaiit Clayloii Hospilal sit¢ wl)ich sils bctw¢¢ii tlic iiiaiii QEGS ai)d WGHS cainpuses. The acquisition was in thc fonn of ali optioii coiitra¢t tliat was depident on a graiit of planniiiL peniiission by Wakefield Couti¢il thereby allowing the FvvndalioD lo deinolish or substantially d¢inolish the exisliiig buildings ai)d clear the site. At the sainc tiinc thc Foundation submittcd outlinc plai]8 for the developnient ol- the site. On 20 July 2017 Wakefi¢ld Council approvcd th¢ outliiie planniiig application which, in ils final Yersion. proposcs to clear Ilie hospital buildiiigs which hav¢ bccoinc dilapidated but retain the central core including the tower. It is intended Iliat this will becoine a central feature of the new devclopnieiit. After prolracled negotiations and planning pennission requireinents, the Foundation finally acquired title to llie site in late January 2018. Demolition of the site began in June 2021 and was substantially completed by December 2021. In September 2018 the foundation fonnally launched its fundraisii)g Cajnpaii for the site, to be called the Clayton Cainpus. The Foundation thanks those donors wlio have contributed to th¢ ca]npaign for their financial support, their paiience and their contiibutions to developinent plans. In August 2022 the initial planniiig pennissions for the Clayton site lapsed. This affords the F,OUT]dalion flexibility to reconsid¢r if tli¢ origiiial, prc-covid plai)s for thc sit¢ are still relevant post covid. The Clayton campus is a significant asset and opportunity. The location of the sile between all of our schools presents options to consider shared facilities. creation of additional teachiiig or Co-¢uleUjr areas and the potential of developing the site to support additional income generating activities. As longer terni plans are developed the Foundation will ensure that the fabric of th¢ main]ng building is s¢¢ured And the environment around the building is improved. The Foundation has recently r¢ceived pIanning.pcm]is$ir>.8ll0WjlLcSeSLSlq}5.tthQO Page 12
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 The FouJ)datiOD then intends to develop an estat¢s masterplan thal reIlecls the Foundation's strategic ainbitioiis ai)d will ensure that plans for the Clayton campus align io the wider estate plans of the rouIidation. Pupil Nujnbers Avergge numb¢ry of pupils IT) thc 8cho(>ls were: 2022 Nuiiiber 604 161 708 178 210 2021 Nuinber 595 274 694 288 WGHS Senior WGHS Junior QECJS Senior QEGS Junior WGI>PS TOTAL 1,861 1,851 Fif4ANCIAL RESULTS Jn ternis of financial perforinai)ce, 2021122 pi'oved 8 challenging year for the Foundation. The result for tlie year shows a 108S UTJrestricted activities from operations of £577k12020121.. loss of £189k). Investinent pcrfonnancc was also iinpacted by general wonoinic and market conditions and an unrealised loss on inv¢stIn¢nts of £312k is rq)ort¢d (2020121.. gain £362k). Total unrestricted incoming tE$ources foT the year were £21,320k. Of this total, 920/D relates to fee income. The Foundation also received a legacy of £950,000 from Mr AA Denton. In line with the donor'8 request, Ihss restricted endOnent fuiid will be invested and income generated from investments will be used to suppoi't bursary provision at QE(iS. During the ye8r in8ny activities curtailed by covid in the prior year resumed, buildiiigs were also fully operational. Thi$ has lcd to increased costs when compared to prior year. Expenditure on unrestricted activities was £21,897k {2020121.. £20,314k). In 2020121 the Foundation also benefited from thc Coroiiavirus Job Retention Scli¢e and the iinpact of this £305k support is seen in coinparative figures. Tcaching staff did not receive a pay increase in 2021122. Support staff received a 10/0 pay increase in April 2022. Thc Govcmors arc mindful of th¢ iiyjpact of the increase in employers, conlributions to the Teachers. Pension Scheme, which came into effect froin Septcmber 2019. The increage from 16.480/0 10 23.680/0 added around £600k per annum to the Foundation's payroll cost. To dale, the Governors have decided to remain with the scheme but to keep the meinbership under constant review. The Foundation has significant financial invesbnents. These are managed by professional investment mallagement companies. Investment income is used to support a rangF¢ of restricted and unrestricted activities, but principally io support bursary provision. During thc year thc Ii)vestment Committee approved the transfer of cash that was held in non-interest bearing accounts and not requir¢d for day to day operations, into managed investments. Additional investments totalling £4,812k were Inade during th¢ year. Governors continue to review investment perfonnance and to ensure that the Foundation is aclsv¢ly managing cash balances. Poge 13
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 The Statemeiit of Financial Activities shows a result for the year of nel incoining funds from o¥Krations, including endowed and restricted aclivilies of £578k {2020121 net outgoing funds of £109k). The Foundation has WOTked hard to mainlain its robust liquidity position and Governors consid•. tl)e financial position as at 31 July 2022 10 be Si£ tisfactory considering the impact of the pandemic during the precediiig years. In particular, il is noted that net assets have increased £300k froin £26.576k to £26,876k. Governors are inindful of the impact of inflation. particularly in energy costs, that was starting to be felt during Ihe finan¢ial period. Continuing high inflation and the agreed 5 - 8.90/D teacher's pay rise have dtiven rinaiicial forecasts for 2022123. The GovernoTS took the decision in August 2022 to increase scliool fees for Ihc Spring and Sumiiier 2023 tenns. Fees at a comparable level with other local independent schools. The accounts Iiave beei) pi'eparcd oil a goingT ¢on¢¢rn basis. Govcmors ¢oii$ider Ihere lo be no inaterial uncertainty which casts doubt on the Foundation's ability to continue as a ¢oncem. RESERVES POLICY The Foundation's Reserves Policy requires the Foundation to hold, or aiin to hold, free reserves OF a miniiiium of £3 millioii. as a contingency iii ol'der to iiiaintain tlie stable operation of tlie sLhool in the case of a future unforeseen event. Free reserves are coiisidcrcd to be unrestrictcd fuiids, ex¢luding the Designated Fuiids aiid excluding the carrying value of taiigible fix¢d asscts l)¢ld witliin gene[ i'eserves. They are as showii in note 14 of tliese accounts. The Foundation's total reserv¢s uf £26.8in at Ihe yeai'.end included £2.27m restricted and endowed funds and £24.6m unrestricted funds. or these unrestricted funds, £6.46m is held in Designated Funds. The Des7ated Funds are not coiisidered to be'free reserves" as the Foundation has inade a coininitmeiit to use tliese fuiids for specific purposes. I'he boundalion does not hold any free reserves al 31 July 2022 (31 July 2021 £890k). Free reserves stated with Ihe inclusion of Unrestrict bul designated ndS w¢r¢ £5,662k 12020121 £0,852kl. Going forward the Governors are irnpleinenting plans to increase the level of annual surplus bcing generated by tlie Foundalioii over the next five year period thereby which in rn will increase the free r¢scrvcs to the Inii)imuiJ) l¢v¢l of £3in. I'h¢ rcstnicture of QEGS and WGHS and the creation ofwGPPS in 2021 are part of these plans. Furtl)¢r work is beinLr undertaken lo I'educe the core teaching and support staff cost witliout impacting the education of the pupils and th5 will include a decision on whether to remain in the Teacliers, Pension Scheme. There will also be a review of some designated funds which may result in them becoming rree reserves. RISK MANAGEMENT The Governing Body has overall responsibility for risk inanagfflnent within the Foundation and this is delegated io the Risk and Coiiipliance Comniittee. In the opinion of Governors, the Fouiidation has establislied systeins whiLlI, under nonnal circuinstances, should allow tliose risks to be Initigat¢d to an aeceplable level in its day-to-day operations. The Governors continue to keep the Foundation's activities under review, particularly with regard to any iiiajor risks that may arise from time to time. A comprehensive Risk Register is Inaintain¢d by the Governors That iteinises aroulld 50 risks likely to be encoui)tered by the Foundation, along with Ilie sy5tem5 and procedures that are in place in order to Initigate the risks. The register is reviewed by th¢ Risk and Compliance Committee and the Board on a temily basis. The risks are classified on th¢ rc¥i¥t¢r Hi¥h, Medium and Low and are quantified based on a score for both level of iinpact and likelihood of O¢¢UTrence. The major risks to the Foundation as noted on the liisk Register are The affordability of school fees for parents The ability to recruit pupils at all entry point in a competitive inarket, Pagg 14
Wakeficld Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 Adverse chaiiges to the funding of the Teachers, Pension Schne Fiiiancial risk linked lo a cliange in Governinent. This Inight include review of charitable status and associated tax advantages, the iiitroduction of VAT 01) school fees and the loss of Maiiadatory Business Rate Relief Current economic ri8k- in particular low inv¢$tment return8, inflation. energy costs and pay demands Thc Governors Ilieve that appropriale controls are in place to inanage these risks guccessfully. Governors Inoiiitor the effectiveness tsf tlie controls, including providing insuranc¢ cov¢r where appropriate, by which those risks idenlified by Governors can best be iniligated. The key controls used by the Foundation include.. Fonnal agendas and iniT]Utcs for the Board and all Sub-cominittees Tcnns of refereiice foi. all Cointnittee8. T¢nnly review of tlie Risk Register, Appointinent of a dedicaled Health and Safety Coinpliance MaDag¢r wlio gives tennly rertS to the Governors at the Risk aiid Compliance Coininittee, Comprehensive strategic plallning, budgetiiig aiid managfflnenl accounting, Established organisational structure and IiT)e$ of rewrting, Fonnal writtcn policics, Fonnal risk assessinents undertaken for all in-school activities, cducational visi18, classro(Im envil'oiients, and woi4(places, Coinprehensive fjre risk assessments for all Foundation preinises undert2kai by an accredited third party oi'ganisation. Coirnnitment from Governors and Head teachers to cnsuriT)g 2 strong culture of health and safety amongst all employccs and to provide fuiiding for expaiditUTe to address H&S Inatters as required All staff rcccsving appropi'iate safeguarding, health and S£ifety, fire safety and CJDPR fvining Clear autliorisation aiid approval levels, and Veltin&' prvcedures as requs1.ed by law foi. the protection of the childr¢n and vulnerable adults. The Governors of the Foundation consider its underlying financial risk to k nioderate. It has a strong casli flow, no bonDwings. and pupil nuinbcrs rcinain at a reasonablc Icvel. Investinents are Inade iii ac¢ordanc¢ with Foundation policies and a loiig t¢nn vicw is tak¢n. Governors recognise that the acquisition and developinent of the Clayton Hospital site will involve a significant financial investment, but believe that the Foundation's str(Ing governance and financial controls will allow the project to k undertaken effectively albeit over a period of up to 10 years. tNVESTMENf POWERS, POLICY AND PERFORMANCE Th¢ Governors are pern)itted to invest available funds at their absolute discretion. The Governors delegate the management of the Foundation's investments to Julius Bar International Ltd and Ratbones who report to the Finance Committee every year, including perfornjance coinparison and sector bench-lnarking. Th¢ Finaiice Coinmillee has set out its investinent principlcs, thc specific long-tern) objectives of which are the achieveinenl of a balance of incoine and gr0h with total annual returns at least matching thc p¢rforniance ofthe ARC PCI Global Balanced iiidex. Between 31 July 2021 and 31 July 2022 th¢ value of the Foundation's investinents cxperienced a 9.5 % decrease in valuc laftcr adjusting for net additions and disposals) in market value. The Foundaiion's investinent portfolio perfonnanc¢ whilst disappointing, reflected Beneral market perfonnancc. In addition to the above investments, the Foundation holds £5.5m cash at bank in instsnt access or up to 95 days, notice accounts. This balance can vary significantly depending upon the time of year is principally held to support day to day operations and rcgularly acccss¢d designated fvnds. Page J5
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 The Investtnent Coininittee will continue to review investment perforniance and cash balances with the goal of making recoininendations for improving the retum on these assets. FUNDRAISING Approach to Fundraising The Foundation has in place R Gift Acceptance Policy and Code of Ethical Fundraising practi and is registered with the Fundraising Regulator, gbiding by their Code of Fundraising Practice. Adherence to these policieg ensuies that the Foundation has a professional approach to fiindraising. The Foundation lias a Development Office, which consists of a Development Director and Developinent Officer both of whoin are employees of the Foundation. The primary responsibilities of the Developinent Office staff are: To build and Inaintain aluinni relations and communication as well as to age alumni events, To provide tlie slralegic and tactical approacli to Euiidraising For the Foundalion, encompassing bursaries, Inajor capilal fundraisiiigF as well ds legacies. Worklmg wlth pr(bfes$ional fundraiser$ During the year, WGSF ha5 not worked with any cxtcrnal profcssional ndraISerS. Fundraising conforming to recognised standards The Foundation is irgistered with the Fundraising R¢gulatc>r and therefore bound by its code of practice to ensure th21 we coiifoTni to recogiiised standards. Monitoring of fuThdr#ising carried out on its behalf During the year, WGSF has not worked with any volunteers to deliver fundraising. Fundraising Complaints There have been no complaints about fundraising during this financial year. The cornplaints process 1$ detailed in the Section A Point 8 of WGSF'S Gift Acceptance Policy and Code of Ethical Fundraising Practice. Prote¢tlon of the publlc Including vulner#ble people WGSF adheres lo the Fundraising Regulator's Code of Fundraising Pra¢ti¢e, in particular Section I Standards: All fuiidraising statcs that fundraising will bc l¢gal, op¢n, hon¢st and r¢s¢if1. Section A point 4 of the WGSF Gift Acceptance Policy and Code of Etl)ical Fundraising Practice stat¢s that Donors will be encouraed lo s¢ek ind¢pende]il advice if the Foundation has any reason lo believe that the donor is vulnerable or a proposed gift might significantly affect the donor's financial position, taxable in¢on)e. or r¢lalitsn$hip with other family manbers. Furtherniore Section B point I statcs that fundraising soliGitatious on b¢half of ih¢ WGSF will.. be trllththl - accurately describc the Foundation's activities and Ihc inlend¢d us¢ of don9t¢d fund r¢spert th¢ dignity and privacy of those who benefit from the Foundation's activities Adhere to the Fundraising Regulator's Code of Fundraising Practice Page JO
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 STREAMLINED ENERGY AND CARBON REPORTING {SECR) This report has bccii ¢ompilcd in with the Marcli 2019 BEIS 'Environmeiital Reporting Guideliiies.. Including streamlined ¢n'bY and carbon repoiting widance,, and the EMA inethodology for SECR Reportiiig. All measured emissions from activities which the organisation has financial coiitrol over are included as required under The Companies (Directors Report) and Liinited Liability Partiiersliips (Energy and Carbon Report) Regulations 2018. The carbon figures liave been calculated u8ing tlie BEIS 2019 earbon conversion factors for all fuels, other thali tl)c Inarkct bas¢d elwtrioity whicli has beeli taken froin Eon Eiia'gy and Total Gas & Power as th¢ UK Suppli.. Emissions Detail by Scope Location Bascd M¢thod Market Based Method Swpc Units Curr¢nt Y¢ar Pirvious year Current Year Previous year 202 Ir22 2020121 2021122 2020121 Scope I Combustion sic tC02c 834 934 834 934 Scope l Facility Operntion sio tC02e Total Seope I tC02e 845 942 845 942 Total Seope I kwh 4,615,562 5,135,641 4,615,562 5,135,641 Scope 2 Purchased Energy S2 IC02e 282 302 Total Scope 2 tC02e 282 302 Total Scope 2 kwh 1,457,826 1,423,859 1,457,826 1,423,8S9 Total All Seopes tC02e 1,127 1,245 943 Total All Scopes kwh 6,073J87 6,559,500 6,073,387 6,559,500 Page]7
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 Binissions D¢tail by Fuel Type IA)cation Based Method Market Based Method Fuel Type Units CuTrent Year Previous year Current Year Previous year 2021122 2020121 2021122 2020121 Electricity tC02e 282 302 Nalural Gas tC02e 834 934 834 934 Diesel tC02e Total tC02e 1,127 1,245 845 943 Electricity kWI 1,457,826 1,423,859 1,457,826 1,423,859 Natural Gas kwh 4,569,055 5,100,882 4,569,055 5,1(X),882 Di¢sel Kwh 46,507 34,759 46,507 34,759 Total kwh 6,073,387 559,50 6,073387 6,559,500 Intensity Ratio - tC02e l Einployee Year Location based Market based 2021122 2.79 2.09 2020121 3.08 2.33 EmDloyees 2020121 404 Pcyge 18
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 Year on Year emission$ Units Cuml Year Previous year /0 change Country tC02e 2021122 2020121 2020121 Lncation based 1.127 1,225 Market Based 845 943 Statement of Exclusions Scope l exclusions No exclusions made Scope 2 Exclusions Scope 2 purchascd ¢lcctri¢ity do¢5 not includc thc Transmission and Distribution element as this is owned by the supplier. Scope 3 exclusions Scope 3 is voluiitary Estiination iiictliods us¢d No estiinations mad¢. Energy Efficiency Actions taken The fouiidation lias ujidcrtaken th¢ following a¢lioi)s during the year.. Continued prograinme of LED lighting retrofit with integrated PIRS to common areas. Five school boilers weie replaced with more enetgy efficient inodels Installation of a Trend BMS to control heating usagFe across the estale Continued staff and student energy awareness prograrnine PttgL 19
Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2022 AUDITORS Saffery Chainpness LLP have expressed their willingness to continue in officc as Auditors for the next financial year. STATEMENF AS TO DISCLOSURE OF tNFORMATION TO AUDITORS Each of the persons who &re Governor$ at the tiine when this Governors, rewrt is approved has confinned that.. so fgr as that thc GoY¢mor is awarc, thcrc is no r¢lcvant Audit information of which the coinpany's auditor i5 unawarc, and that the Govenior has takeii all the steps that ouglit to l)ave beet) taken as a Governor iii order lo be aware of any relev&nl audit infonnaiion and 10 establish that the coinpany's auditor is aware of that infonnalion. Governors, report, iiicludin&F a Strategic Report, approved by order of the Board of Govcrnors, as the coinpany directors, on 16 Mai'ch 2023 and si&ed oil the Board's behalf by.. -m Mr S Chamberlain Cliair of Governors Mrs H Massey Deputy Chair of Govemors 16 March 2023 16 March 2023 Page 29
Wakefield Grammar School Foundation GOVERNORS, RESPONSIBILITIES IN THE PREPARATION OF FtNANCIAL STATEMENTS The Governors (who are also directors of tlie Foui)dation for the purposes of company law, and the Charsty TrusIe) are responsible for preparing tlic Governors, Report and tlie finaiicial stateinenls iii accordance with applicable law nd United Kiiigdom Accounting Standards (Uniled Kingdoin G}erallY Accepled Accounting Praclicel. Coinpany law requires the tNstees to prcpare finai)cial stateinthits for each financial year which give a trne And fair view of the state of affairs of the cliaritable coinpany and the ¥Froup and of the iii¢oiniiig resources And application of resources, includiiig the ine(kine and expenditure. of the charitable group for that period. In preparing these financial statanents. thc trusiees are required to= Selecl suilable accounting policies and then apply them consistenily; obscrvc th¢ mciliods ai)d principles in the Charities SORP (FRS 102). make JudgentS and estimates that are reasonable and pmdent. stato wlicthei. applicable accounting standards have be) followed, subjec( to any Inaterial departures disclosed and exp18ined in the financial stateinents. and prepare the financial stateinents on the going con¢ern basis ullIe it is inappropriate to presuine that the charity will continue in business. Thc trust¢ air resw>nsible for keeping proper accounting records tl)at disclose with i"easonable accuracy at aiiy tiillc tlic finaiJcial posilioii OE Ilie chaiilable coinpaiiy ai)d enable thon to ensure thal the financial stateinents coinply with ilie Companies Act 2006. They are also r¢sponsible for safe¥Fuardiiig the ass¢t$ of the cliaritable ooinpany and the group and hence for taking reasonable steps for ihe prevei)tioii and detection of fraud and other igulAritIcs. In so far as the tii]stees are aware.. there is no relevant audit infonnatioii of which the charitable coinpany's auditoi. is unaware: and the trustees have taken all steps that tliey ought to Iiavc taken to make themselves aware of any relevailt audit infonnatioii and to establish that the auditor is aware of that infomation. The trustees are responsible for th¢ maintenaiice and integrity of the corporate and fiiianci21 infonnalion included on the charitable coinpany's wcbsite. Legislation in the United Kingdom goveming the reparatiL)n And diSsninat1O1l of fiiiancial stat¢inents tnay differ froin legislation in other jurisdictions. Poge21
Wakefield Grammar School Foundation tNDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF WAKEFIELD GRAMMAR SCHOOL FOUNDATION Opinio We have audited the financial ststements of Wakefield Grammar School Foundation (the 'parent charitable ompany'l aiid its subsidiaries (the 'group'l for the year ended 31 July 2022 which comprise the consolidatcd statcinent of financial activities (incorporating incoine and expenditure account), the consolidaled balance sheet. the charity balance sheet, the consolidaled cash flow statemenl and notes to the rinancial stateinents. including significant Accounting policies. The financial rep(Irling framework that has been applied in their preparation is applicable law and United Kingdoin Accounting Standards. including Financial Repoiling Standard 102, tlie FinancEal Reporting Standard applicable in the UK and Republic of ]reland (United Kingdoin Generally Accepted Accounting Practice). Tn our opinion the financial statements.. give a true and fair view of the state of Il)e affasl's of the g'oup aiid the pareiit charitable coinpany as al 31 July 2022 and of the bFroup's inLoininLT resources and application ofresources, including its in¢oine and ¢xp¢nditure, for the year then ended- have been properly prepared in accordance witli United Kingdom Generally Accepted Accountiiig PractiLe; and have been prepared in accordance with the requirements of the Companies Act 2006. Bas1$ for oplnlon We conducted our audit in Bccordance witli Internalional Standards on Auditing (UK) (ISAS {UK)) and applicable law. Our responsibilities under those st£1ndllrds are further described in the AuditOT'S responsibilities for the audif of the financial StatentS section of our repc>rt. We are ii)dependent of the group aiid pai'enl cliaritable coinpany in aLcurdanLc with the elliical requireiiient8 th21 are relevant lo our aLidil of Ilie financial Statlle1]t9 in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Co¢15]0115 relating to going concern In audiling the fillancial sta(eiiienls, we have concluded that the Gov¢mors' use of the going concern ba51S of 2ceounting in the preparation of the finan¢ial glalemellts 1$ appropriate. Bas¢d on tl)c work wc hav¢ pcrformed, we hav¢ not identified any inaterial uncertainties rclating lo ¢vents or conditions that, iiidividually or collectively, Inay cast significant doubt on the group or the pareJ)t charitable compaiiy's ability to continue as a going concern for a period of at least twelve inonths from when the financial statements are authorised for issue. Our respoiisibilities and the responsibiliti of the Gov¢rnors with r¢5ct to going ¢olirn are described in thc r¢l¢vant sections of this irport. Other information Tlke Govemors are responsible for the other infomiation. The other infornialion comprises the infomation ineluded in the annual report, other than the financial stateinents and our auditor's report thereon. Our opinion on the financial statements does llot covcr thc other infonnation and, except to thc cxtent oihenvi8¢ explicitly stated in our report, wc do not cxprcss any forni of assurancc conclusion thcrcon. Our responsibility is to read the other infonnation and, in doillg so, consider whether the other inforfftalion is rnaterially inconsistent with the financial statements or our knowledge obtained in the course of the audit or othenvise appears lo be materially misstated. If we identify such material inconsistencies or apparent material miSstatnents, we are required to detennine whether this gives rise to a inaterial inisstatement in Page 22
Wakefield Grammar School Foundation tNDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAKEFIELD GRAMMAR SCHOOL FOUNDATION thc financial statcnicnts th¢ins¢lvcs. If, ba8¢d on tlie work we Iiave pei'fornied, we conclude that there is a material misstateinelit of this otheJ' iiifoiination; w¢ al'e required to report Iliat fact. We have nothing to report in this regard. Otlier matter5 prescribed by tlie Compaiiies Act 2006 lji oiir opiiiioii, based 011 the work undeilakeii in tlie course of the audit- tl)e infonnation given in the Governors. Annual Report which includes the Direclors. Report and the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statnents. and the Governors, Annual Report which includes the Directors. Report and the Strat¢gi¢ Report has been prepared in 8ecordance with applicable legal requirements. LVAatters on which we are required to report by exception In the light of the knowledge and undei3taiidiiig of the Lrroup and the parent charitable coinpany and Ilieir envii'onincnt obtained in the course of the audit, we have nol identified inaterial misstatements li) the Governors, Annual Report and Stt'atcgic Roport. Wc Iiave nothiiig lo repoit in respect of the following in2ttth'g where the Companies Act 2006 requirc us to report to you if, lil our opii1iOII- adequate accountiiig I'ecords have not been kept by the parent Charitable company, or returns adequate for our audit have not been rC]ved from branchcs not visited by us; c>r tlie pai'ent Gharitable coinpany financial statemenls are not in agreement with the accouiiting recor(ts and reIllS., or certaii) disclosures of Govemors, rnnuneratioii specified by law air iiot Trade. oi. wc liave iiot receivcd all th¢ infomatitsn and explanations we require for our audit. ResponsibilitTres of Governors As explained snore llY in the Stateineiit of Governors, Responsibilities set out on page 21, the Govcmors (wlio are also the directors of the pareiit charitable company for ihe purposes of coinpany law} are responsiblc for thc prcparation of thc finaDeial stateinents and for being satisfied that they give a true and fair view, and for such internal control as the Gov¢rnois deterniine is necessary to enable the preparation of the finaiicial stateineiits that are free from material niisstateineiit, whethei" due to fraud or error. i prepariiig tlie linaiicial stateinents, the Governors arc respoi)sible for assessing the group and the parent charitable company's ability to continue as a going concem, disclo$inbF, as applicable, Inatlers related lo going concern and using the going concern bc1SiS of accountiiig unlcss the Governoi'y either intend to liquidate the group or the parent charitable company or to ceasc operations, or have no realistic alternative bul to do so. Auditor's responsibilities for the audlt of the tlnan¢lal st8tements We Iiave been appointed as auditors under the Companies Act 2006 and report in accordance with r¢gulatioiis iiiade under that Act. Our objectives arc to obtain reasonable assurance about wheiher the group and parent fiiiancial statenients as a whole are free from Inaterial misstateinent. wlieilier due lo fraud or error, and to issue an auditoi s report that iiicludcs our opinion. R¢asonabl¢ assurance ig a high level of assurance, but is not a guarantee tliat an audit conducted li) accordaiice with ISAS IUKI will always detect a Iiiaterial inissialeinent when it exists. Misstatemeiits can arise froin fraud or error and considered material if. individually or in the aggregate, they could reasonably be expected to influence the economi¢ decisions of users taken on the basis of these fin&ncial statements. Page 23
Wakefield Grammar School Foundation INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF WAKEFIELD GRAMMAR SCHOOL FOUNDATION Irregularities, including fraud, are instances of non-compliance with laws and regulatsons. We design procedures in line with our responsibilities, outlined above. to detect Inaterial Inisstat¢in¢nts in re$tt of irregularities, including fraud. The spectfic procedures for this engagejnait aiid th¢ extcllt to which these are c2pable of detecting irregularitie8, including fr8ud are detailed below. Identifying and 88s¢8sing risks related to i]T¢gularities'. W¢ assessed the susceptibility of thc group and parent charitable company's financial statements to n]atcrial niisstatcincnl Iiow fraud inighi occur, iiicluding through discussions with the Govemors. discussions within our audit tell planiiing ineeliiig, updatiiig oui. r¢¢ord of intemal conlrols and ensurirng t11&8e controls operated as intended, We evaluated possible incentiv¢$ and opporlunilies for fraudulerLt manipulation of the financial statements. We identified laws and regulatlOn5 that are of signsficance in the context oltl)e group and pai'ent cliaritable coinpany by discussions with GovernoiE aiid iipdating our understanding of the sector in which the group and parellt charitable coinpany operate. Laws and regulations of direct significance in the context of tl)e group 2nd parent charitable cornpany in¢lud¢ Tli¢ Coinpanics Act 2006 and guidaiicc i$.U¢d by the Charity Coinmission for England and Wales, t]ie Indepei)dent Scliools Stai)dards as found in the Educatioii and Skills Act 2008 aiid guidance issued by Ilie Deparlinent for Education. Audit response to risks identified.. We considered the extent of coinpliance witli these laws and regulations a$ part of our audit procedures on Ihe related financial stalenienl items including a review of fii)ancial stat¢nieJit disclosures. We reviewed the pareiit cliaritable coinpaiiy's records of breaclies of laws and regulatioiis, iiiiiiutes of Ineelings and correspondence with relevant authorities to identify potential mateiial InisslJi¢inent$ arising. We discussed the parent ¢haritc1ble coinpany's policies and procedures for coinpliancc with lawy and regulations with InnberS of inanagement responsible for coinpliancc. During the planning ineeting with the audit teain, the engageJnei)t partncr drcw attention lo tlie key areas which Inight involve non-coinpliance with laws and regulations oi. fraud. W¢ enquired of inanagement whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through inan8ge]nent override of controls by lesliiig the appropriateness of journal entries and identifying any signiticalit transactions tliat were unusual or outsid¢ the nornial cours¢ of business. We assessed whethei. judgeinents Inade in making accounting estimates gav¢ rise lo a possible indication of management bias. At the cnpletion stage of the audit. the cngagcm¢nt partner's rcview included cnsuring that the team had approached their work with appropriate professioiial scepticism and thus the capacity to idcntify non-compliance with laws and regulation5 and fraud. There are inherent limitations in the audit procedures described above and the further reTnoved non- compliance witli laws aiid regulations is from the events and transactions reflected in the financial statements, tlie less likely wo would b¢ille aware of it. Also, the risk olnol detecling a material Inisstal¢ineiil du¢ lo fTaud is higher than Ilie risk of not detecting one resulting From error, as fraud Inay involve deliberate concealinent by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on thc fii)gncial ReIrting Council's website at-. www.Lrc.or .ukldudiloi'sre onbibiliiies. This description fonns part of our auditor's port. Pdge 24
Wakefield Grammar School Foundation INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAKEFIELD GRAMMAR SCHOOL FOUNDATION Use of our report Tl)is rq)ort is mad¢ solely to thc par¢Jit chaiitablc ¢oinpany's in¢mb¢rs, as a body, it] accordance with Cl)apter 3 of Part 16 of the Coiiip8iiies Act 2006. Our audit work lias been uiidei'takai so that we might stal¢ to the parent ch8iilable conipaiiy's iiieniber8 those matters we aiE I'equired to s121e to them in an auditor's report and for i)0 othcr puiyose. To ilie fullest extent pennitted by law, we do nol accept or a%suin¢ i'¢spon8ibility to anyon¢ othcr tlign th¢ par¢iit cli8rit8ble ¢oinp2ny and the parent charitable coinpaiiy's niembers as a body, for our audit work, for tl)is repoit, or foi. the opinions we Iiave fonned. LLe Sally Appleton (s)10r Statutoiy Auditor) for aiid on belialf orSaffY Chainpness LLP Chartered Accountants Mitre House Nortli Park Road Harrogate HGI 5RX Statutory Auditors Date.. 19 April 2023 Saffery Chainpness LLP is eligible to act as an auditor in tern)s of section 1212 of the Companies Act 2006 Page 25
Wakefield Grammar School Foundation CONSOLIDATED STATEMENT OF FtNANCIAL ACTIVITIES (INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT) for the ye- elided 31 July 2022 Unrestri¢ted Endowment fi]iids funds £000 Reslricled Total funds Funds 2022 £000 £000 Total funds 2021 £000 £000 tNCOME AND ENDOWMENTS FROM.. ChaF'ilable actLiyilies Fees receivable Less bursaries, scholarshtps and fee assistllnce 23,750 {2,935) 23,750 {2,945) 22,770 (2,9521 (10} 20,815 110} 20,805 19.818 Other Irading uclivEtEes Coinmercial opci'ations Other activities liiijeslments Investment income Bank and oilier interest VuluAIizFy Sutsrc Donaiions, legacies and Grants 250 33 250 33 119 33 63 69 39 156 950 335 1,441 502 TOTAL tNCOMJNG RF.SOURCF.S 21,320 950 334 22,61H 20,520 FXPF,NDITURE ON.. Charifuhle nctiiiEIFe.F Scliool Opcrating Costs Raisiiigfiinds CoinTnercial tradiiigy operations 21,823 129 21,9S2 20,600 74 74 29 TOTAL EXPENDrruRE 21,897 129 22,026 20.629 NET IOLrrGOtNG) tNCOMtNG FUNDS F,ROM OPERATIONS BEFORE INVESTMENT GAtNS AND LOSSES (577} 950 205 578 {109) {LDsscs) / Gains on investinents (295) (17) (312) 362 NET INCOME AND CAPITAL (oirrFLOW)ItNFLOW 18721 950 188 266 253 Pension schDe actuarial gains 34 34 Net movement in funds for the year 18381 950 188 300 253 Fund balan¢es brought fonvard at I August 2021 25,444 1,132 20,576 26,323 FUND BALANCES CARRIED FORWARD AT 31 JULY 2022 24,606 950 1,320 26,876 26,576 Puge 20
Wakefield Grammar School Foundation CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITTES (INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT) for tlie ye- elided 31 July 2022 There are no recognised gains or losses iii the year other ihan those shown in tlie stat¢nicnt of financial activities above. Con.8equently i)0 s¢par8te statement of recognised gains and losses has been prepared. All activities are classed as continuiiig. Profit for the purpos¢s of the Coinpai)ies Act 2006 is the net (outgoingllincomii)g funds froin operations before investinent gains and losses. Ptige 27
Wakefield Grammar School Foundation CONSOLLDATED BALANCE SHEET 31 July 2022 Registered Nuinber 04258359 Group Foundation 2022 £000 Noles 2022 £000 2021 £000 2021 £000 FIXED ASSETS Tangible fixed asscts Inveslinenls 18.944 8,056 18.592 4,302 18.944 8,056 18,592 4,302 27,000 22,894 27,000 22,894 CURRENT ASSETS Stock Debi(Irs Cash ai bank 534 5,483 505 8,954 590 5,396 518 8,909 6,017 9,462 5,986 9,429 CREDITORS-. amouiits falling due within one year 10 (4,718) {4.233) (4,639) 14225) NFf CURRENT ASSETS 1,299 5,229 1,347 5,204 TOTAL ASSETS LE,SS CURRENT LIABILITIES 28,299 28,123 28,347 28,099 CREDITORS- ainouiits falling due after mol'e than one year {1.4231 (1,547) 11.4961 (1,547) 26.876 26,576 26,851 26,551 REPRE,qENTED B Y.. Liidow]iient Funds Rcstrictcd fiJi)ds Unrestricted funds Designated funds - General ndS 12 12 950 1,320 950 1.320 1.132 1,132 13 6,457 18,149 6.000 19,444 6.457 18,124 6.000 19.419 14 26,876 26,576 26,851 26,551 The accounts were approved and authorised for issue on 16 March 2023 by.. Mr S Chamberlain Chair of Governors Masse Deputy Chair of Governors Page 28
Wakefield Grammar School Foundation CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 July 2022 2022 £000 2022 £000 2021 £000 2021 £000 Notes NEF CASH INFLOW FROM 01)ERATIONS 17 2,049 1,122 RETURN ON tNVESTMENTS AND SERVlCtNG OF FtNANCE Investinent incoine re¢eipls Int¢st re¢eived 70 39 75 47 CAPITAL EXPFNDITURE AND FINANCIAL INVESTMENT Purchase of tanbFible fIxed assets {1,528} (3911 Purchase of inv¢sttnenis {4,812} (2,167) Proceeds of sale of investtnents 746 1,159 (5,594} {I,399) DECREASE IN CASH (3,470) (229) RECONCILIATION OF NET CASH FLOW TO MOVEMENTS IN NET FUNDS Decrease in cash in the year 13,4701 (229) Net funds at l Augusi 2021 8.953 9,183 Net fuiid5 at 31 July 2022 5,483 8,953 Page 29
Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL STATEMENTS for the year ended 31 July 2022 The f2nancial statements have been prepared und¢r th¢ Coinpanies Act 2006 and iii accordance with the l)arilies Statemeiil of Recoininended Practice (SORPI aiid Fiiiaiicial Reporting Standard 102 {FRS 102}. The principal accounting policies adopted, judge]nents and k¢y sources of estiination uncertainty in the preparation of the financial statements are set out below. BASIS or PREPARATION The accounts l)ave been prepared in accordance with the historical cost ¢onventioii with the exc¢ption of investments which are included at mad(el v8lu¢. The Foundation has availed itself of paragraph 3 (31 of schedule 4 of the Companies Act and adopted the Companies Act fonnats to reflect the special nature of its activities. On 17 Nov¢mb¢r 2004 the Charity Commission granted a unitiiig order for Wakefield Graininai. School Foundation {WGSF) and Wakefield Graminar School Foundatioii Endow¢d Lands Trust {WGSFELT} (Charity No. 529908}. The uniting order allows the two Cliarities to bc administered as one. Accordingly the accounts lor tlie Foui)dation are for the coinbined i'esulis ofwGSF, and WGSFELT. The educational opprtunities available at the foundation continue to be attractive and the Foundation has strong piipil nuinbers even in the current e¢onoJni¢ clsniate. The Foundation Inanages operational cash f7ow lo inake the best use of available resoui'ces aiid the Govanors are confident that it has sufficient resouir¢s to continue as a going concem, Wakefield GrAmmar School Foundation meets the definition of a public benefit entity under FRS 102. -rhe tinancial staInenIS are prepared in sterliiig, wliioh is the functional currency of the coinpany. Moneiary amounts in these financial staieineiits air fouT)ded to Ilie nearest £. GOtNG CONCERN The accounts have been prepared on a going concern basis followiiig consideration by tlie Governors. Forecasts have been prepared and reviewed for the iiext four years, altsngside tlie CUlTellt l¢vel of i'eserves and cash. Govcmors eonsider ihere lo be no material uncertainty which casts doubt on tlie Foundation's ability to CODtiiiue as 2 going concern. BASIS OF CONSOLIDATION Thc consolidated financial statements coinprise the ac¢ounl$ of Wakefield Graminar School Foundation aiid ils subsidiary made up to 31 July 2022. T]ie results of Ili¢ subsidiary are consolidated on a line by line basis. No separate sor,A has bccn pr¢scnted for the Charity Alone, as pennittcd by Section 408 of the Coinpanies Act 2006. The net iiicoining r¢sourc¢s of th¢ Cliarity are dssclosed in note 22. FUND ACCOUNTING G¢n¢ral funds, which are generated from the main school activities, are unrestricted funds which are availablc for use at the discretion of the GLiveinors in furtlicrance of the general objectives of the Foundation and which have not been desi nated for otlier ur ses. Designated funds coinprise unrestricted funds that have been set aside by the Governors for particular purposes. The aiin and use of ch dcsignated fund is set (iut in the notes to thc financial statements. Page 30
Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL STATEMENTS for the year ellded 31 July 2022 Restricted funds are funds whicli are to be used in accordance with specific restrictions iinposed by donors or which have been rais¢d by tlic FoundalEon foi. a particular purpose. The cost of raising and adiiiinist¢riiig sucli fiind5 aiE cliarged against the specific fund. The aiin and use of cach regtrscted fund is set out iii the iiotes to tli¢ fiiiaiicial stataiients. Endowiiiwit funds are funds where the principal is to be lield iii perpctuity. Invcstinenl income earned on the resources of thc cndowrncnt filnd Are applied for the purposes of the restricted fund. ACTIVITIES Ti)e Governors ¢onsider there to be one charitable activity, this being the provision of education to children agcd3to 18. FEES AND SIMILAR tNCOME Fees receivable and siniilar incoine are accounted foi. in tlie period in which the service is provided. Fees rcccivable are stAted after deducting allowances, scholarsliips and bursaries allowed by the school. DONATIONS, LEGACIES, GRAFUS AND OTHER VOLUNTARY INCOMING RESOURCES Voluntaiy resources are accounted for as and whci) cDtitlcinent arises, Ihe amount can be reliably quantified ttnd the economic benefit to the Foundation is considered probable. Volunlary incoine for the Foundation's ge11.a1 purposes i5 accounted for as tsnreslricled and is cr¢dit¢d to ¢ither Designated or General Reserves. Where tlie donor or an appeal has imposed restrictions, volui)tary income is credited to the relevant restricted fund and in¢oining end0entS are accounted for as pernianent trust capital or expendable trust capital, according lo whether the donor intends reteiitioii to be pemanent or not. Gifts in kind are valued at estiii)at¢d opeii market value at tl)e date of gifi, in the case of gss¢1s for relention or consuinptitsn, or at tlie value to tl)e Foundation in the case of donaled services or facilities. TANGIBLE FIXED ASSETS Fixed assots are stated at hi$loric cost. Itcins arc capilaliged as Freehold Property additions when the pendIture in¢urred 18 considered to ¢nhance aiid iniprove the overall fabric and condition of the Foundation schools. Depreciatioii is calculated to write off the cost ol fixed assets, less estimated residual value based on current market priccs, on a straight line bAsis over their estiinated useful lives, using th¢ followingF rdtes'.- Freehold property Fixtures. fittitigs and equipment NIachinery, coinputer and other eqUillent N(otor vehicles Between 2 and 10 12.5 12.5120125 25 Freehold land is not depreciated. Individual items cosiing less than £1,000 are charged to the income and expendire account in the period in which the item is a¢quired. Fixed asscts arc r¢vicw¢d for impainnent where there is an indication of iinpairnicnt. Page31
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS foi- the year ¢nded 31 July 2022 STOCK Siocks are staled al the lower of cost and net realisable value. EXPENDITURE Expenditure is accrued as 500n as tlie liability is considered probabl¢, dis¢ounted lo present value for longer tem) liabilities. The following infom)ation is also relevant-. Governaiice costs Govemance costs include those costs incurred in the governance of the Charity and its assets and are primarily associated witli constitutional and statutory requirements. Cliaritable Activities Cliaiitable activities include expenditure a$slated with the opet•tion of the Foundation's schools. Costs of Generating Funds Costs of generaliiig fuiids include the costs of the trading subsidiary, W.l.S. (Educatioii) Liiiiiled. The irrecoverable eleinent of VAT is included with the it of expense to which it relates. tNVESTMENTS All investments other than in the subsidiary are stated at inarket value. Unrealised gains and losses on revalu£ltion and realised gains and losses on disposal are credited to the fund to which the ii)vcstinenis relate. The investnient in the subsidiary is stated at historical cost. Bank and building society interest is recognised on an accruals basis. All other investment income is recognised on a receipts basis. PENSION COSTS The majority of the teaching staff are Ineinbers of the Teachers, Pensioil Scheine which is a d¢fined benefit scheine. Certain iiiembers of the non-teaching staff are either meinbers of a group pension schcme or a group personal pension scheme. both of wliich are defined conlribution scheines. Tlie assets of all the pension schemes are independently managed and held separately from the Foundation. ln die support gtaff pensioii sclieme, die Pensions Trust Growth Plaii, genes 1 2 and 3 are dethned to be Inulti anploycr defined beiiefit pensioD schemes, seric3 4 is a defiiicd Contribut9 sclieine. Series 1, 2 and are closed to further contributions froin new or existing ii)embers and all contiibutions are In2de into Series 4. It is not possible to identify the share of underlying assets and liabilities belonging to ii)dividual participating employer in the Pensions Trust Growth Plan. OPERATINGIEASE Rentals 2ppli¢abl¢ to operating Icas¢s whcr¢ substantially all of the benefit5 and risks of ownership remain with the lessor are charged against profits on a straigl)t line basis over the period of th¢ Icase. Page 32
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS for tlie year ended 31 July 2022 FINANCIAL tNSTRUMENrs The Foundation only has fiiiancial assets and financial liabilities of a kind tliat qualify as basic financial inslruinents. Basic financial instruineiits are initially recognised at traiisaction value and subsequthitly Measur at their settlement value. FEES RECEIVABLE Total 2022 Total 2021 Uiir¢8trict¢d Restrieted £000 23,750 {2,935) £000 £000 23,750 (2,945) £000 22,770 (2,952) Gross fees Lesg.. scliolarships, bursaries and allowances {10) 20,815 110) 20,805 19.818 2 COMMERCIAL OPEEiATIONS Unrestricted £000 Restricted £000 Total 2022 £000 Total 2021 £000 Sale of confectionery and sports equipment colniSsiOn on sale of school unifoiin Lettiiigs After School Clubs and Holiday Clubs 22 22 io io 95 88 21 14 95 88 21 14 28 56 22 Rental inconie Otlier 250 250 119 OTHER ACTIVITIES Unrestiicled £000 Restricted £000 Total 2022 £000 Total 2021 £000 Otl)¢r 33 33 34 33 33 34 All income from comrnercial and other activities was unrestricted in 2020121. Pqge 33
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS for Ilie year ¢iid¢d 31 July 2022 DONATIONS. LEGACIES AND GRANTS Unrestricted Eiidowed £000 £000 Restricted Total 2022 £000 2021 Cove¥Janls, donation atjd legacics Giuiits lieceived 156 950 335 1,441 197 305 156 950 335 1,441 502 Endowed ndS i'elales lo a legacy of £950k bequeathed to the foui)datiot) by AA Denton. Also included in ihe above are restricled grants of£nil (2021.. £305kl relating lo Ilie coroiiaviius job retentloll scheine. W.I.S. (EDUCATION) LIMITED The School has a IOOO/o interest in its trading subsidiary which is gIStered in England. W.l.S. (Education) Liinited proinoies coininercial activities which use the schools, a%sets to generate income from lettings, tuck shops and other activities. The subsidiary liad a tuii)over for the year of £141,129 {2021.. £40,939) aiid expenditure of £84,704 (2021.. £35.319). The whole of its taxable profits of £56,425 (2021: £5,620) were gifted to Wakefield Grammai- School Foiindation. At 31 July 2022 tlie subsidtary had assets of£i13,024 {2021.. £63,1 341, liabilEties of £87,924 (2021.. £38,034) and iiei assets of £25,100 (2021.. £25,100). EXPENDITURE 2022 £000 2021 £000 liicluded iii resources expeiided 2rc'. Qioveillois, liability insuranc¢ Operating lease panellts - plant, Inachinery, vehicles and land Auditors. remuneration Audit of the parent company 8nd ctsnsolidated accounts Audit of the subsidiary company Taxation s¢rvic¢8 200 186 16 18 Piige 34
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2022 The average nuinber of nplOy¢¢8 ctnployed by the Foundation during the year was as follows.. 2022 2021 Number Number T¢gching staff Noii-teuel)in&F staff 210 200 217 238 410 The number of anployees whose emoluinents during the year exceeded £60,000 were.. 2022 Numbei. 2021 Nuinber £60,OIX) - £70,000 £70,000 - £80,000 £80,0(X) - £90,000 £90,0 - £1 00,000 £1 00,000 - £1 10,000 £110,000 - £120.000 £120,000 - £130,000 £130,000 - £140.000 15 15 Contributiong of £256k (2021..£224k) were made to the Teachers. Pension Sch¢Tne, which 18 a defined benefit scheine, for all but one of the above higher paid pAnploy¢es. For one higher paid ¢iiiployees, contributions of £15k12021:£17k} were inade to Series 4 of tlie Pcnsions Tii]st, which is a defin contribution scheme. STAFF COSTS 2022 £000 2021 £000 Wagcs and salarics Social security Paision costs 12,175 1,281 2,276 12,142 1,237 2,254 15,732 15,636 None of the Governo rettived any remuneration or other benefits froin the Foui)dation or from any connected body (2021.. nil). Aggregate employee-benefils of key inanagement personnel 588 600 P&ge 35
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2022 ANALYSIS OF EXPENDITURE ON CHARITABLE AcrivrtlES Charltable actlvltles Staff costs Depreciation Other costs Total 2022 £000 Total 2021 £000 £000 £000 £000 Teaching costs welfa and catering Premises Adininistratioii Other expenditure 12,520 768 776 202 1,732 505 1,506 1.061 215 14,454 1,273 3,0411 2,711 442 12,745 766 209 3.182 3,062 454 227 15,732 1,177 5.019 21,928 20,573 Governance Costs 24 24 27 Total Expenditure by Chfirity 15,732 1,177 5.043 21,952 20.600 TrE)ding costs of the siibsidiary 74 74 29 Tutal Expenditure by Gillp 15,732 5.117 22,026 20.629 Governan¢e ¢osts include the Costs of external 8udil, governors, liability insurance and governots, expenses. Included in staff Losts aknve are reslricled costs of £nil12021 £305kl relating to costs covered by the CJRS Schane. All expenditure included by the charity is considered to be direct ¢xp¢ndiknre as a result of undertaking the charitable activity. PL7¥e 36
Wakefield Graininar School Foundation NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2022 TANGIBLE FIXED ASSETS Fixlui-es, Muchiiieiy. COnlPLIRLr and oihc31' equipmenl £000 Freehold lind equipmenl £000 Molor vehicles £000 buildings £000 Totul £000 GROUP AND FOUNDATION Cost At l Augu8t 2021 Additions in year 5,170 319 3,777 691 12 40,070 1,528 518 At 31 July 2022 31,629 5,489 4,468 12 41.598 Depreciation At l August 2021 Charge for year 13.416 766 4.513 209 3,536 202 12 21,477 1,177 At 31 July 2022 14,182 4,722 3,738 12 22,654 Net book value At31 July2021 17.695 657 240 18,592 At 31 July 2022 17,447 767 730 18,944 All tangible fixed assets are owned by the Foundation. Included within the cost of Freehold land and buildings are assets under construction with a value of £1,961k 12021 £2,068k}. These assets relate to the Clayton Hospital site. and are not currently depreciated. Ptsgc 37
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2022 7 tNVESTMETrKrs Foundation Foundation Unrestricted Regtricted and Endowed £000 Total £000 £000 MARtQET VALUE At l August 2021 Additions Disposals Decrease in market value 4,123 4.06l (746) (295) 179 751 4,302 4,812 (746) (312) {17) At 31 July 2022 7,143 913 8,056 ANALYSIS OF INVESTMENTS Casli Goveriiin¢nt slock Charity deposits Listed investments ,173 475 197 5,298 1,173 475 375 6,033 178 735 7,143 913 8,056 FOUNDATION Unlisted investinents in subsidiaries 100 loo The following individual investtnent constitutcs 5/0 or more of the market value of the overall investnient portfolio.. £000 375 COIF incoine units Included witl)in Unrestricted Investinents is £3,576k (2021- £3,103kl representing part of the Bursary Res¢rv¢s as thown iii note 13. The charity deposits totalling £375k {2021.' £379kl constst of 19518.73 uiiits (2021: 19,418.73 units) held in coir Cliarities Iiivestinent Fund. Ther¢ arc no known material restrictions whicli rnighi apply on the realisation of tliis holding. Unlisted investmentg in gubsidiaries.. Cupzlal RultS foi- the yeÉ3r Clftss of shares reserves Compally Nalure ofbusiness /0 held w.i.s. Sale of confectionery, educational Ordinary (Education) and sports equipinenl and supply of sundry school7ivifies ac 100 25,100 Page 38
Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL STATEMENTS for Ilie year ended 31 July 2022 STOCKS Group FouJ)datio 2022 £000 2021 £000 2022 £000 2021 £000 Catering supplies Goods for resale DEBTORS Group Foundation 2022 2021 £000 £000 2022 £000 2021 £000 Fee debtoi's PIEpayJiients and accrued iiicoine Otlier debtors Amounts due from the subsidiary undertaking 27 452 55 89 405 12 27 420 55 82 89 388 12 30 534 506 590 519 Included in the ainouiit duc froin thc subsidiary is 8 sum of £56k12021.. £6k} which relates to the subsidiaiy's surpluscs for the yr and 18 due to be paid to the Foiiiidation, under Gift Aid provisions. in the iiext financial ycar. 10 CREDITORS.. Amounts falling due within oiie year Group 2022 £000 Foundation 2022 2021 £000 £000 2021 £000 Trade creditors Fees received in advance Advaiice fees (see note I I I Other creditors Taxation & social security Accrnals Pensioll Funding Deficit 280 1,762 728 843 311 293 16 468 1,980 629 940 328 289 276 1,762 728 843 310 290 16 1,980 702 940 329 294 4,718 4,233 4,639 4,225 Page 39
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2022 CREDITORS.. Amounts falling due after more than one year Group Foundation 2022 £000 2021 £000 2022 £000 2021 £000 Advance fees Pensioii Funding Deficit 1,416 1,505 42 1,488 1,505 42 1,423 1,547 1,495 1.547 Advance fee payments Par¢nts Inay enlei. into a conlract lo pay lo the Foundation up to the equivalent of fifieen years tuition fees in advanc¢. 'Ni¢ nioncy may be retsnied subject to %peeific conditions on tlie Teceipl of oiic tcnn's i)otice. Oil the assuEnptian that pupils will reiiiain in school the advance fees will b¢ applied as follows- 2022 £000 2021 £O(K) Within I to 2 years Within 2 to 5 years After more than 5 yea13 702 1,042 373 496 716 293 2,117 1,505 2022 £000 2021 £000 Advance fees brought fonv8rd Recesved in yeai. Iiitci'¢st rcccivcd Adjustments payable Fees for year Net (gains) 2,233 885 32 (70) (834) (129) 2,291 742 (16) (765) (21) 2,117 2.233 Due withiii one year Due after one year 702 1,416 728 1,505 Page 40
Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL STATEMENTS for tlie year ended 31 July 2022 12 RESTRICI'LD FUNDS AND ENDOWEI D FUNDS The incoine fuiids of tlie Fouiidation include endowed fui)ds coinprising the following unexpired balances to be applied for S[C1fiC purposes. Balance at Inv¢stin¢nt 31 July 21 Oain(LL)ss) £000 £(100 In¢oining Outgoing Bxlan¢o at 31 July 22 £uoo 950 £000 950 £000 AA Dentoi) Bursary The AA Denlon Bursary was endowed lo the Foundation for the funding of bursary provision at Queen Elizabeth Grammar School. The incoine funds olihe Foundation include restsicled fuiids coinprising the followiiig balanc to be applied Cor specific purtM)ses. Balance at 31 July21 £000 52 Investment {Lossl £000 Incoming Outgoing Balance at 31 July 22 £000 £000 £000 Herbert Wice Exhibition Neil Spawforth Meniorial Miss Mccroben Scholarship WGHS Scliolarship Isobel Fowler Scholarship Mai'gal Benthain Chapinan Spoi'ls Hall Wilson Bursary Fc>rd Art Scholaiship Developineni Bursary Fund Development Fund Burgary Reserves Miss Knott Lcgacy QE,GS Roche Music Fund 49 166 20 49 163 20 {2) 14) 42 42 62 38 103 206 51 12 269 (2) {3) {63) {38} 40 39 117 220 197 35 12 352 (10) 116) Clayton Cainpaign Mavis Moore Legacy Fund Marjorie Ann Holmes Music Fund Gail Knight Bursary 83 (2) {4) 526 122 1,132 117) 334 {129) lJ20 P¢Tge 41
Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL STATEMENTS lor the year ended 31 July 2022 Comparative Figures for Year Ending 31 July 2021.. BaluNce al Ini?eslmenl 31 July 2020 Gain (Loss) £000 £000 INcomiNg Outguing B¢71ance al 31 Jiily 21 £000 £000 £000 H¢rbert Wice Exhibition Neil Spawforth Memorial Miss Mccroben Scholarship WGIIS Scholarship lsobcl Fowler Scholarship Margaret Bentham Chapinan Sporls Hall Wilson Bursary Ford Art Scholarship D¢v¢lopineiit Bursary Fund Developinent Fund Bursary Ileserves Miss kniott Legacy QF.GS Ro¢h¢ Musi¢ Fund 46 52 45 148 18 49 166 20 15 41 42 42 62 38 103 206 51 12 269 62 36 100 201 51 12 213 Claytoii Campaign Mavis Mooi'e Legacy Fiiiid Majorie Ann Holnies Music fund Coronavirus Joh Retentioii 56 15 305 (10) (305) 1,024 28 397 (317) 1.132 Restricted Funds are held for the following purposcs: Herbert Wice Exhibitioii University of Cambridge. to provide scliolarships to pupils attending the Foundatioll schools or the Miss Mccroben Scholarship- lo provide scholarships for pupils of WGHS enteTing an approvLal university. WGHS Scholarship- lo fund 6lli fomj $0hol8rships at WGHS. Isobel Fowler Scholarship- to provide a 6lli fom s¢holarships at WGHS Senior. Wilson Bursary - to provide scholarships bascd on a¢ad¢mic metit and financial need to pupils froiii the Metropolitan Borough of Kirklees entering secondary education at WGHS or QEGS. Ford Art Scholarship - to provide benefits such as the provision of art Inat¢rials, exhibition visits, or all intcrnship, for pupils at WGHS S¢Dior School aged 13 to 18, who have above averagc artlStic ability. Bursary Reserves and the D¢velopment Bursary Fund- fiLnds donated specifically to pi'ovide total or partial exemption from the pawnent of tuition and other fees foT children who need financial assistance to enable them to attend the foundation's Schools. Miss Knott Legacy - bequeathed froin the will of Miss M A Knoll Headmistress of WGHS Senior frotn 1949 to 1973, for the use And benefit of Wakefield Girls, High SLhoul. Development Fund- to provide for sundry development and educational proj¢ots as specified by the donor. QEGS Roche Music Fund- to provide benefits for the musical education of pupils at WGHS. Page 42
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS for the y¢aT ]ded 31 July 2022 Shine - to provide for the Fout]dation's Shine "Serious on Saturdays" programine after a succe8$ful bid for 1]ding. Shine is a leading educational charity whose focus is social mobility through ¢du¢8tion. Clayton CainpaiLTII Clayton Hospital. foi. funds raised, froin donalioiis and otlier sources. lo develop the site of tl)e foriner Mavis Moore Legacy Fund - to provide benefits lo the pupils at QEGS and WGHS. Maiiorie Ann Holines Music Fund- lo provide inusic and coinposition equipmait at WGHS. Gail Knighi Bur88ry- to provide a bursary for the benefit of pupils at QEGS Coi'onavirus Job Releijlion ScheJne- funds received froin tlie UIC Govcmiiient to i)i'oteet jobs in the wake of Ilie Covid-19 pandeniic. 800/0 of the wage costs olthe fvi'loughed einployecs was claiined. Ti)e other funds consist of trust and prize fvnds set up by individual don0. The restricted funds comprise restiicted and sonie older endowed funds. Due lo the age of soine funds, it is diificuli to identify endowed fi]iids separately. Page 43
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2022 13 DESIGNATED FUNDS Thc sncoine fuiids of the Fouiidation include tlie followiiig designated funds which have been set aside out of unresti'icted fui)ds by tlic Govcmors for spcGific PULVQS¢S'. Balance Moveinent in reserves at31 July Inve8tment IncoJning 2021 Gains £000 62 137 Balance at31 July 2022 £uou 76 137 Outgoing £000 14 £000 Cyclical repair reserves Exh"aordinary repair reserve Sundiy school reserves Hepworth Fund - Bui'satics Hepworth fui)d - Estates Bursaiy Fuiids 596 1,454 147 22 562 1,348 (84) {44) 421 3,330 421 3,913 763 {29} 6,000 1235) 946 {254) 6,457 Comparative Figures for Year Ending 31 July 2021.. Balance ai 31 Jiiljp 2020 Moiiemenl IN resenyes IiiiieJ¢mgiil Iiicoming GaiFIS BalÉTnee ai3JJuly 2021 OulgoE17g £000 £000 £000 £000 {45) £wo Scholarship reserves Cyclical repair reserves Extraordinary repair reserve Sundry schL)ol reserves Hq)worth Fuiid- Bui'$8ries Hepworth Fund- Estates Bursary Funds 45 62 137 62 137 570 1,492 174 {149) (38} 596 1,454 421 2,344 421 3,330 236 757 (7} 5,071 236 932 (238) Designated Funds are held for the following purposes.. Bursary Fund- to provide total or partial exeinption from the paellt of ttLition and oth. fees for childr] who need financial assistance to enable than to attend the Foundation's Schools. Incoining resources into th¢ Bursary Rcserves of £763k (2021.. £757k) include a prnportion of fee incoiiie received during the year. Historically the proportion has been Set at 3.50/. Scholarship reserves Ihese reserves were combined with the above Bursary Fund during th¢ 2021 financial year due lo the similarity in their purposes. Foundation development reserves - funds, to the most part arising froin surpluses ot] thc Sllder of a lease regardiiig the Fouiidation's playiiig fields, held to contribute to the cost of redevelopincnt. Page 44
Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL STATEMENTS for the year ended 31 July 2022 Cyclical repair reserves to contribute to the cost of recurring rq)airs. The Governors continu¢ with works to upgi'adc aiid iinprove the eKlSting fabric of the school buildiiigs aiid pari ofthis is funded by this rescrvc. Extraordinary repair reserve - held to fui)d tlie cost of uiiforeseeable major repair$, as and when required. Sundry school rescrvcs - funds designated to gchool activities, elub8 and Societies. In part these fijnds arise fi'oiii ainounts s¢t asidc cacli y¢gr to cover cyclical costs, such as those of inspection or prL)spectuses, which r¢ occur ove]. a tiinescale of up to 5 years. Tlie Thd8 also aiise froni ndraiSing aiid donations, sucli as amounts gFifl aided froFn the subsidiary eoinpany, the proLeeds of whicli have be1 desigiiated to bc used for ypeoific puOSe9, or As and when required. Hepworth Fund proceeds froin the sale of two sculptures by celebrated fornier Wakefield Girls, High School pupil Daine Barbara Hepworth. Held for the benefit of present and futuir WGI.IS pupils with a quarier of the fuiid (less an ainount already expended) intei)ded to iinprove estates and three quarters intended lo support the alln of widlillg participation at tlie sclio(Il where Daine Barbara wag educated. 14 ANALYSIS OF NET ASSEfs BETWEEN FUNDS Designated funds Unrestricted Regtri¢ted aiid funds endowed nds Total funds £000 Fund balances al 31 July 2022 are represented by-. £000 £000 £000 Tangible fixed assets li)vestinents Current assets Creditors 37 3,368 3,052 18,907 3,775 1,608 16,1411 18,944 8,056 6,017 (6,141} 913 1,357 6,457 18,149 2,270 26,876 Comparative figures at 31 July 2021 £000 £000 £000 £o(x) T211gible fixed assets liivestinents Current as$¢ts Creditors 39 3,083 2,879 18,554 1.040 5.630 {5.780) 18,592 4,302 9,462 {5,780) 179 953 6,000 19,444 1,132 26,576 There are no free reserves at 31 July 2022 (2025.. £R90k). Free reserves are calculated as other unrestricted funds of £18,149k Icss the £18,907k carrying value of tangible fixed assets held within unrestricted funds. Designated funds arc not considcrcd lo b¢ "free reserves" as the Foundation has made a past commitinent to use these funds for specific purposes. How¢v¢r, a review of future purposes may result in the undesignation of reserves if the specific purpose is no longer relevant. Free reserves including designated funds are £5,699k. Page 45
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS for the year elided 31 July 2022 15 CAPITAL COMMITMENTS 2022 £000 2021 £000 Future capital expenditure.. Contracted for but not provided in the financial $tatanenls 21 179 16 OTHER FINANCIAL COMMITMENTS At 31 July 2022 the Foundation was conimitted to making the following total payments undcr noii cancellable operating leases: 2022 £000 2021 £000 Operating leases payable within l year.. Educatiunal Adininistr81ion 112 192 113 203 Operating leases payable within 2-5 year5 Educational Administration 29 141 29 142 Page 40
Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL STATEMENTS for the year ended 31 July 2022 17 RECONCILIATION OF NEf MOVEMENT FUNDS TO NET CASH FLOW FEiOM OPERATING AcfiviTIES 2022 £000 578 2021 £000 (1091 Net incomiiig/ {outgoing} r¢$ources Elimination of non-operating casliflows.. Add back depreciation charge Interest i'eceivable Defetred income and advance fee payment received, less release liivestiiient iiicome Foreign exchange loss {Decreasel in stock (Incrcas¢l1Dccasc ii) debtors {Decreasel/lncrease in eredilors 1,177 (6) {1161 (69) 1,084 19} {102} (39) (29} 511 85 210 Net casl) used in operalsng activitie8 2,049 1,122 18 ANALYSIS OF NET CASW(DEBT) l Aug 2021 Mov•Dent 31 Jul 2022 £000 £000 £000 Bank loans and overdrafts Casli at bank and in hand 8,953 (3,470) 5,483 Net cashl(debtl 8,953 (3,470) 5,483 19 PENSION SCHEMES Tea¢h¢r$* Pension Seheme The School participates the Teachers, Pension Scheme {"the TPS"} for its teachiiig staff. The pension charge for the year includes contributions payable to the TPS of £1.98 Ik (2021.. £1,980k) and at the year-end £238k (2021- £235kl was accrned in respect of contributions to this scheme. The TPS is an unfunded inulti-etnployer d¢fin¢d benefits pension scheme governed by The Teach¢rs' Pensions Regulations 2010 las ainended) and The Teachers, Pension schlle Regulations 2014 (as ainended). Members contribute on a "pay as you go" basis with contributions from members and the nployer being credited to the Exchequcr. R¢tiranetLt and other pension benefits are paid by public nds provided by Parliament. Pdge 47
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS for the ye- ended 31 July 2022 The eTnployer contribution rnte is set by the Sccretary of State following scheme valuations ui)dertaken by the Govcmincnt Actuary's Deparhnent. The most recent actuarial valuation of the TPS was prepared as at 31 Ma11] 2016 and th¢ Valuation RepoJ1, wl)i¢l) was publislied in March 2019, confinned that the nployer contribution rale tor the TPS would increase froin 16.4 % to 23.6 /0 fron] I septnbel. 2019. Employers are also required to pay a scherne adininistration levy of 0.08 /0 givii)g a total einployer contribution rate of 23.68 %. The 31 March 2016 Valuation Report was prepared in accordance with thc b¢n¢fits s¢t out in the schne I'egulations and under Ilie approdLlI specified in the Directions, as they appli¢d at 5 Marcli 2019. However, the assuniptions were ¢on$idered 2nd set by the Departtnent foi. Educatioi) prior to Ilie ling in the 'McCloudlSllrgeant case, This case has requittd the courts to consider cases regarding the iiiiplcm¢ntation of the 2015 1'¢fomis lo Public seiC¢ PensEons including the Teachers, Pensions. 011 27 June 2019 the Supreme Court denied the govenllnent perniisyion to appeal the Court of Appeal's judgment that transitional provisions introduced to the refonned pensioii sclieines in 2015 gave rise to unlawful age discriinination. The goveminent is respecting the Court's decisioii and h8$ said it will engage fully with the Eiiiploy]iient 1'ribuiial as well as nploYer and ineinber rcprcscntativ¢s to agree hDW Ilie discriniinations will be remedied. -Ilie bFovernnieiil aniTruunced 011 4 February 2021 that il intends to proceed with a deferred ¢hoi¢tt underyin under which meinbers will be able to choose either Icgacy or rcf(>micd s¢hcinc bciicfits in r¢spcct of thcir service during the period between l April 2015 and 31 March 2022 at the point they beoomc payable. The TPS is subject to a cost cap Ineclianisin which was put li) placK to protect taxpayers against uiifo>reseen chaiigres iii scheine costs. The Chief Secretary to the Tregsury, haviiig in 2018 announced that there would be a review of this cost cap Ineclianism, in .lanugiy 2019 announced a pause to the cost ap inech2nism following the Couit of Appeal's rLLling in tlie Mccloudlsargeant case and until the is cei'lglilty about Ilie value of peiisioiis to eiiiployees froiii April 2015 oiiwai.ds. The pause was lifted in July 2020, aiid a coi)sultation was launclied 011 24 Julie oil proposed clian&Tes to Ihe cost control mechanisin followin& a review by Ilie Gov¢rnin¢nt Actuary. Following a public consuliatioi?, the Goveniillcllt havc acccptcd thirc kcy proposals r0MMeNded by the Government Actuary, and are aiining to impleineiit these cl)angc8 in tiinc for tlie 2020 valuatioiis. The 2016 cost control valuatioi)s liave sii)ce been coinpl¢ted iii Jaiiuary 2022, and the results indicated that there would be no changes to bei)efits or ine]nber coiitributions r¢quiFed. The results (If the cost cap valuation are not used to set the einployer contribution rate. and HM Treasury1ig$ eonfinned that any changes lo the einployer contribulioi) rate resulting froin the 2020 valuations will take effect ID April 2024. Until the 2020 valuation is eompleled it is not possible to conclude on any financial impact or future changes to th¢ contributiOT) rates of the TPS. Accordingly, no provision for any additional past benefit pension costs is included in these financial statejnents. The Pensions Trust TPT Retlrement Solutlons- The Growth Plan Wakefield Grainmar School Foundatioii participates in the scheme, a multi~employer schaD¢ whi¢h provides benefits to some 638 non-associated participaling einployers. The scliem¢ is a d¢fincd b¢nefit $chane in the UK. It is not possible for the ¢oinpany lu obtain surricient inforniation to lable it to account for the scheme as a defined benefit sch¢in¢. Therefore il a¢¢ount8 for the scheme as a defined contrtbution sch¢m¢. Pu¥e 48
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2022 The sclieine is subject to tlie fuiiding legislation outlined in the Pensions Act 2004 wliich caine into force on 30 Decnber 2005. This, together with documents issued by the Pensions Regulator and Technical 2022 £000 2021 £000 2020 £000 Present value of provision 12 58 73 Actuarial Standards issued by the Financial Reporting Council, se( out the framework for funding defined benefit occupational peiision schenies iii the Ulc. The $chem¢ is ¢la$sifi¢d as a'last-lnan standing arrangement,. Therefore the coinpany is pot¢i)tially liabl¢ for other pai'tioipating employers, obligations if those einployers are unable to meet their share of the scheine deficit following withdrawal from the scheme. Participating employers are legally required to Ineet th¢ir shar¢ of tl)¢ schciiic dcficit on an annuity purchase basis on withdrawal froin th¢ schcinc. A full actuarial valuation for the scheme was carried out at 30 Septeinber 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6111. To eliminate this funding shortfall. the Twstec lias a%k¢d the participatiiig anployers to pay additional contributions lo thc schcmc as folltsws.. Deficit contributions From l April 2022 to 31 January 2025: £3,312,000 per annuin {payable monthly) Unless a concession has been agreed with the Trnstee the tern) to 31 January 2025 applies. Note that the scheme's previous valuation was carried out with an effective date of 30 septnber 2017. This valuation showed assets of £794.gm, liabilitses of £926.4m and a deficit of£1 31.Sm. To eliininate this nding shortfall, the Trustee asked the yarticipating nplOyerS to pay additional contributions to the scheine as follows.. Deficit eontributions From l April 2019 to 30 Scpteinb¢r 2025.. £11,243,000 per annum (payable monthly and increasing by 30/0 each on 1st April) The recovery plan contributions Are Allocated to each participating employer in line with their estimated share of the Series l and Series 2 scheme liabilities. Where the scheine is in deficit and where the company has agreed to a deficit funding arrangeinent the company recognises a liability for ihis obligation. The amount recognIs is the net present value of the deficit reduction contributions payable under the 8greemenl that relales to the deficit. The present value is calculated using the discount rate detailed in these dsgclosureg. The unwinding of the discount rate is recognised as a finance cost. Page 49
Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL STATEMENTS Year ended 31 July 2022 PRESENT VALUES OF PROVISION RECONCILIATION OF OPENtNG AND CLOStNG PROVISIONS 2022 £000 2021 £000 PIDvisioii at st# of period 58 73 Deficit contribution paid 112) (15) R¢me8suremenls - arnendmenis to the contribution schedule (34) Provision at end of period 12 58 INCOME AND EXPENDITURE tMPACT 2022 £000 2021 £000 ReJneasui'eJnents- aineiidments to the contributioii gcliedule {34} Costs recognised iii iii¢oiiie aiid expenditure account 450 ASSUMPTIONS 2n22 2021 2020 0/0 per /0 per #nnum /v per annum Rate of discount 3.15 0.57 0.60 The discount rates shown above are the equivalent single discount rates which, when used to discounlthe future recovery plan contributions due. would give the satne results as using a full AA corwrate bo1 yield curve to discount the same recovery plan contributions. Page 59
Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL STATEMENTS Year elided 31 July 2022 The following schedule details the deficit contributions aeed between the coinpany and th¢ schne al each year end period.. DEFICIT CONTRIBUTIONS SCHEDULE Year endlng 2022 £000 2021 £000 2020 £000 Year I 4,971 4,971 2.485 16,094 16,577 17,074 8,706 15,625 Ye8r 2 16.094 Year3 16,577 17,074 8,706 Year 4 Year 5 Year 6 to Year 20 The company musl recognise a liability measured as the present value of the contributions payable that arise froin tlie deficit recovery agir¢inciit aiid the resulting ¢xp¢nse in the incoine and expenditure account i.e. the unwinding of the discount Inte as a finance cost in the period in which it arises. It is these conhibutions that have been used to derive the coinpanys balance shect Friends Provident The school also contribiiles to Friends Provident pension scheme which is a defiiied coiib'ibution scheme. l-he pension charge foi" the year includes conti'ibutions payable to the SchDe of £4k12021: £7k). 20 RELATED PARTY TtiANSACTIONS A number of Goveniors l)av¢ children who attend the Foundation schools. Governors pay nornial school fee8 on cominercial tenn5. The Foundation has a IOOO/a interest in its trading subsidiaiy W.l.S. (edu¢ation) Liinited. During the year elldcd 31 July 2022 adininistration and estates services have been provided by Wakefield Grainmar School Foundation on an arms Iciigth basis, witli a managcinent charges of £4k payable by W.l.S. {Educationl Limited (2021.. £4k). At tlie year end there were aniounts outstandiii& lo Wakefield Grammar School Foundation of £82k (2021.. £30k). Page 51
Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS Year ended 31 July 2022 21 OTHER CHARITIES WAKEFIELD CHARITIES. HOMES The Governors and the Bursar of thc Foundation provide trustee and inanagoment seNices to Wakefield Charities, Hoines. an almshouse cl)arity aiid Registered Social Landlord wliiGh pi'ovides low cost accoinmodation for elderly people ii) need wlio have co]ectIO1]S with the City of Wakefield. During the ye£1r under review management charges of £5k (2021.. £5k) were payable by Wakefield Charities, Honies 10 the Foundation for administration services provided on an anns length basis. The funds below, which 2re also admini$l¢r¢d by the Governo of Wakefield GrMar Scliool Foundation, are includd scpgratcly, on pagFes 54 aDd 55, as funds pr(Ivided for sptxific purtK)ses, and do not fonll a part of the Foundation's activities. BROTHERTON SCIENCE, SCHOLARSHIP Bequeathed by the Will of the late Lord Brotherton of Wakefield to provide for the e$lablislun¢nl of a scholargliip for the study of physics and chemistry at the Univergities of Manchester and Leeds. WILSON AND BROMLEY'S CHARtTY Bequeathed Separately by the Will of Richai'd Wi18tsn dated 7 December 1672 and John Broinley dated 3 Janu2ry 1722 aiid ain21gainated to provide annual income lo the Vicar And Curate of Wakefield. Page 52
Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL STATEMEKrs Year elided 31 July 2022 22 WAKEFIELD GRAMMAR SCHOOL FOUNDATION OWN RESULTS The Fouiidalion's own results for the year included in the consolidatcd Statement of Financial Activities were'.- 2022 £000 2021 £000 INCOME AND ENDOWMENTS FROM.. Chcii-itoblc/ L7LfivEÈECS Fees receivable Less bursaries, scholarships and fee assistance 23,750 (2,945) 23,000 12,952) 20,805 19.818 Oiher Irading acliiiilies CoiiiiDercial operalioi)s li)coii)e froin Subsidiary Other activities liivfigfmenls li)vestinent incoine Baiik ai)d otl)er int¢rcst Volunlayjp Soui'ces Doi)atioiis, legacies and Grants 109 56 36 78 34 69 39 1,441 502 TOTAL INCOmG RESOURCES 22,521 20.485 EXPENDITURE ON.. Choi-iriible dCfivEties School Operating Costs 21,941 20,594 NF.T tNCOMtNG FUNDS FROM OPF.RATIONS BEFORE INVESTMENT GAINS AND LOSSES 580 (109) Gains on investments (314) 362 NET tNCOME AND CAPITAL tNFLOW 206 253 Pension Schane actuarial gains 34 Net movement in funds foT the year 300 253 Fund balances brought fonvard at l August 2021 26,551 26,298 FUND BALANCES CARRtED FORW ARD AT 31 JULY 2022 26,851 26.551 Page 53
Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL ST ATEMENTS Year elided 31 July 2022 23 CONSOLJDATED STATEMENT OF FtNANCIAL ACTIVITIES- Cornparative figurcy by fund type Year ended 31 July 2021 UnrestTiCted funds £000 Restricted fuiids Total funds 2021 £000 £000 tNCOME AND ENDOWMENTS FROM.. Charitable acliviftes Fees receivable Lcss bursaries, scholarships and fee a5S15tance 22,797 {2,9501 22.797 {2,9521 (2) 19,820 (2) 19.818 Other Iroding aclivilies Comiiiercial trading operations Other activities IniJeslMenl.f Investmen( incoii)e Baiik aiid othei. interest Voluntary Stsurces Donations, le¢]eS and Grai)t8 119 34 119 34 35 39 117 385 502 TOTAL INCOMtNG RESOURCES 20.125 395 20,520 EXPENDITURE ON.. Charitable aLlii?ities School Operating Costs Rai.singfu17ds Coininercial trading operations 20,286 315 20,601 28 28 TOTAL EXPENDITURE 20,314 315 20,629 NET INCOMING FUNDS FROM OPERATIONS BEFORE INVESTMENT GAINS AND LOSSES (189} 80 {1091 G2i118 01) investm¢nts 334 28 362 NET INCOME AND CAPITAL (OUTFLOWI/tNFtA)W Pension Schelne actuarial gainsl(losses) 145 108 253 Net in0Vnent in llds for the year 145 108 253 Fund balances brought forward at l August 2020 25,299 1,024 26.323 FUND BALANCES CARRIED FORWARD AT 3 1 JULY 2021 26.576 Page 54
Wakefield Grammar School Foundation BROTHERTON SCIENCE SCHOLARSHIP tNCOME AND EXPENDITURE ACCOUNT for Ihc year ended 31 July 2022 2022 2021 INCOME Interest receivable liivegttnent income (net of lossesl g&ins} 2,400 2,314 TOTAL tNCOME 1,123 2,315 EXPENDITURE Scholarships awarded 500 500 TOTAL EXPENDITURE 500 SURPLUS FOR THE YEAR 623 1,815 BALANCE SHEEf AT 31 JULY 2022 TOTAL AssErs Investinents {at market value) Cash At bank Debtor 79,521 79,52l 5.747 32,512 33,131 118,403 117,780 Repi'esented by.. Accuillulaled fund At l August 2020 Surplus for the year (Loss) l Gain on rcvaluation of inveshnentg 117,780 1,904 (1,281) 102.691 1,815 13,274 At 31 July 2022 118,403 117,780 Page 55
Wakefield Grammar School Foundation WILSON AND BROMLEY'S CHARITY Year ended 31 July 2022 tNCOME AND EXPENDITURE ACCOUNT for the year ended 31 July 2022 2022 2021 tNCOME Interest receivable TOTAL INCOME EXPENDrruRE RESULT FOR THE YEAR BALANCE SHEET AT 31 JULY 2022 TOTAL AssFrs Cash at bank Creditor 573 (250) 573 {250} 323 323 Rcpres¢i?tcd by.. Accuinulated fund At l August 2021 Resuli for the year 323 323 At 31 July 2022 323 323 Page 56