2024-08-31-accounts

Docusign Envelope10.' 69928D1 [>236￿B5A-AFgE-7BB2E7A398B8 Company Registration No. 04258J59 Registered Charity No. 1088415 Wakefield Grammar School Foundation and Associated Charities STATUTORY FfNANCTAL STATEMENTS for the year ended 31 August 2024

Dowslgn Envelope ID.. 69928D1 D.236PAB5A_AF9E.7BB2E7A39BB8 Company Registration No. 04258359 Wakefield Grammar School Foundation and Associated Charities FULL DETAtLED FINANCIAL STATEMENTS for the year ended 31 August 2024

Docuslgn Envelope ID-. 69928DI D_236B4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Wakefield Grammar School Foundation 15 a charitabl¢ company limited by guardntee, registered in England and Wales. The Governors of the Wakefield Grammar School Foundation are the directors of the company for Companies Act purposes and in charity law. Throughout this document the following abbreviations are used: Queen Elizabeth Grammar School- QEGS Wakefield Girls, High School - WGHS Wakefield Grammar Pre-Preparatory School - WGPPS GOVERNORS, DIRECTORS AND CHARITY TRUSTEES The Governors of Wakefield Grammar School Foundation who served in offi¢¢ during the year and subsequently are detailed below. Governors Mr M Shevill 12 3 4 5 6 7 8 (appointed as Chair of Governors l December 2023) Mr S Charnberlain 12 3 4 5 6 7 8 (Chair of Governors, terni of office ended l December 2023) Mrs J Anderson 2 (appointed 24 June 2024. resigned 27 September 2024) Mr S Butterworth 13 6 9 (Vice Chair) Mrs F Galbraith 2 4 5 9 Revd Canon K Goldsmith 2 (appointed 8 January 2025) rs C Harrison 12 7 MrJJeffties 1467 Dr S Khan 3 5 6 9 (resigned 14 February 2025) MrJLewis1378 Mr T A McKinlay 3 5 6 (Vice Chair) Mrs H Massey 12 6 9 (resigned 13 May 2024) Mrs K Morgan 12 3 8 9 (Vice Chair) Mi55 E C Peckett 2 6 (resigned 19 June 2024) Mr5 P Plumpton 4 5 6 (Safeguarding Governor) Mi55 A J Tetley 2 5 (retired l December 2023) Nominated Gnvernors The Chapter of Wakefield Cathedral may nominate a Governor to serve on the Board. During the year, there was no nominated governor. However, Reverend Kathw JA Goldsmith was appointed on 8th January 2025. Member of Finance Committee, incorporating Land and Buildings Committee Member of WGHS Govemor Education Committee Member of QEGS Governor Education Committee Member ot WGPPS Governor Education Committee Mernber of Risk and Cornpliance Committee Mernber of the Strategy Cotnmittee Member of Investrnent Committee Member of the Fundraising Committee Governor with children in Foundation Schools Page I

Docusign Envelope ID-. 69928D1 D-236B4B5A-AF9E-7BB2E7A39BBB Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 KEY MANAGEMENT PERSONNEL Director of Finance and Operations Mrs J cock￿ (also Company Secrctsry) QEGS Head WGHS Head Dr R Brookes Ms H-J Boyes (resigned 31 December 2024 to join Royal High School Bath) Mrs E Gill WGPPS Head ADDRESSES QEGS 154 Northgate Wakefield West Yorkshire WFI 3QX WGHS Wentworth Street Wakefield West Yorkshire WFI 2QS WGPPS Margaret Street Wakefield West Yorkshire WFI 2DG REGISTERED OFFTCE AND PRINCIPAL PLACE OF BUSTNESS.. Wakefield Grammar School Foundation Governors, Office Green House 158 Northgate Wakefield West Yorkshire WFI 3UF BANKERS: Barclays Bank plc Trinity Walk Shopping Centre Teall Way Wakefield WFI IQS Svenska Handelsbanken AB (publ) Unit 10 Navigation Court Wakefield WF2 7BJ Nationwide Building Society Business Savings Cornrnercial Division The Observatory Chapel Walks Manchester M2 IHL Page 2

Docuslgn Envelope ID.. 69928D1 D_236B4B5A_AF9E.7BB2E7A398B8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 AUDITORS: Saffery LLP 10 Wellington Place Leeds LSI 4AP STOCKBROKERS: Julius Bar International Ltd The Platforn] New Station Street Leeds LSI 4JB Rathbone Brothers PIC Port of Liverpool Building Pier Head Livetpool L3 INW The Governors present their annual report for ihe year ended 31 August 2024 under the Charities Act 2011 and the Companies Act 2006, together with the audited fmancial staternents for the year. The Governors confirni that the fmancial statements comply with the requirements of the Act, and Reporting by Charities: Statement of Recommended Practice 2015 applicable to charities preparing their accounts IT] accordance with the Financial Report Standard applicable ill the UK and Republic of Ireland (FRS 102). DEFINITTONS In these financial statements the following expressions shall have the meanings set out below-. The Foundation Wakefield Grammar School Foundation, Company No. 4258359 Rcgistered Charity No. 1088415 und, under the ternis of a uniting order, Wakefield Granimar School Foundation Endowed Land5 Trust, Incorporated by Royal Charter 1591 (as amended), Registered Charity No. 1088415-1 W.l.S. (Educalion) Limited, Company No. 2737083. The Foundation and its Subsidiary as noted abovc. - Board of Govemors of the Foundation Subsidiary Group Board Page 3

Docusign Envelope ID.. 69928D1 D.236B.485A_AFgE_7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 HISTORY AND STATUTORY INFORMATION Wakefield Grarnmar School Foundation, in the City of Wakefield. West Yorkshire, was found¢d by Royal Charter of HCT Majesty Queen Elizabeth I in 1591. Up until July 2001 the Foundation was regulated by a Scheme made under the Endowed School Acts 1891, as varied by schemes b¢twe¢n l 893 and 1997. From August 2001 the operations of the Foundation. with the exception of its pemianent endowmenl, were transferred with the approval of the Charity Commission and the Privy Council to a coinpany limited by guarantee called Wakefield Grammar School Foundation. This was incorporated under the Companies Act 1985 on 24 July 2001. On 17 November 2004, the ￿ndS of Wakefield Grammar School Endowed Lands Trusts were transferred to the Foundation. The Articles of Associatton of the Company supplement the Royal Charter and replace all the intervening Schemes as the Goveming Instrument of The Charity. STRUCTURE, GOVERNANCE AND MANAGEMENT The Governors determine the strategy and general policies of the Foundation and its Schools and meet as a Board a minimum of three times a year. The Governors discharge their responsibilities through a Committee Structure which covers all aspects of Foundation administration. There are committees for Financc, Investment, Risk and Compliance, Strategy, Fundraising and Governor Education Committees for each individual school within the Foundation. The Board may con5iSt of up Co nineteen Governors. Of the nineleen full Governors, eighieen are co-opted and one is nominated by the Chapter of Wakefield Cathedral. The Board of Governors has responsibility for ensuring that the Board contains member5 With the skills and dedication necessary for the operation of an educational charity. whilst representing fairly the interests of each school in the Foundation togcther with the interests of the local community. New Governors. othcr than nominated Govemors, are sclecled if possible from a pool list maintained for this purpose and are approved by the Board prior to appointment. Governors are appointed initially for a period of four years and can serve for a rnaxitnum of three four-yearly ternis. The Chair of Governors and Vice Chair of Governors are elected annually al the AGM. New Governor5 are inducted into the workings of the Foundation and its schools, including Board policies and procedures, during an induction session convened for that purpose. New Governor5, where appropriate, are provided with a Govemor mentor for the first year of their appointment. All Governors are encouraged to attend appropriate training cour.ses which typically include principles of good governance. safeguarding children, managing health and safety. fire safety and rnanaging the charity finances. Thc Board in Lonjunction with the Director of Financc and Operations and the Head teachers sets the strategy for the Foundation. The implementation of the stralegy together with the day-to-day management of Foundation schoo15 is delegated to the Director of Finance and Operations and the Head teachers who. in turn, are supported by their Senior Leadership Teams. The Director of Finance and Operations attends all meetings of the Governing Body's Committees. The remuneration of key management personnel is Set on scales deterniined by the Boarl with the policy objective of providing an appropriate incentive to encourage enhanced perfomiance and of Tewarding them fairly and responsibly for their individual contributions to the Foundation, s success. The appropriateness and relevance of the remuneration scales are reviewed periodically to ensure that the Foundation remains sensitive to the broader issues of pay and employm¢nt conditions elsewhere. The Foundation aims to recruit new key management personnel at the lower to medium point within a band, providing scope for rewarding excellent perforn]ance against objectives. Delivery of the Foundation's charitable vision and purpose is primarily dependent on our staff, and staff costs arc the largest single element of our charitable expenditure. Page 4

Docusign Envelope ID.. 69928D1 D.236B4B5A_AF9E_78B2E7A39B88 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Details ot Governor5, Officers and Advisors are set out on pages l aThd 2. The Foundation Ca￿leS out periodic parental surveys. A full, detailed parental survey was carried oul in December 2021. Parental feedback is also sought on occasions for specific issues. Surveys undertaken during the year included a parentsl affordability survey to assess the impact of the introduction of VAT. Surveys and other opportunities for parental feedback, including Govemor Brcakfasts, have also helped to shape plans for the proposed restructure of the Foundation. Staff are able to contribute to decision making primarily through the termly meetings of the Foundalion's Joint Negotiating and Consultative Committee. The meeting is chaired by a Governor and attended by the Heads and teaching representatives from each school. Students also provide feedback to Governors and their school leaders through regular discussion opportunities and stsdent councils. We also welcome feedback from OUT alumni community who engage with us through our Development Office and through ongoing links to school staff. The generosity of supportive parental and alumni or8anisations is much appreciated and grate￿I]Y acknowledged. Foundation schoo15 actively support the attainment of the highest standards in the independent schools sector through rnembership of relevant representative organisations being the Heads, Conference (HMC), the Girls, Schools Association (GSA). the Independent Association of Preparatory Schools (IAPS) and the Independent Schools. Burs￿$ Association (ISBA). The Heads and the Director of Finance and Operations also attend regional groups of independent schools to share best practice and provide 5UPPOrt when required. The Charity has a wholly owned non-charitable trnding subsidiary, W.l.S. (Education) Limited, whose activities and trading perfonnance are detailed in the notes to these accounts and consolidated. AIMS AND OBJECTIVES Wakefield Grammar School Foundation is a Company limited by Guarantee. It is also a registered charity. The object for which the cornpany is established is to advance education by the provision of a school or schools in or near Wakefield or elsewhere in Britain and by ancillary or incidental educational activities and other associated activities for the benefit of the community. At 31 August 2024 the Foundation comprises a boys, school (Queen Elizabeth Grarnmar School), a girls, school (Wakefield Girls, High School) and a co-educational pre-preparatory school (Wakefield Grammar Pre-Preparatory School). Both QEGS and WGHS take pupils from age 7 through to age 18. WGPPS offers places from age 3 to age 7. The Foundation's vision is to enable long lasting contributions to society through a shared joy of learning. This vision is supported by a mission to provide education in a supportive, engaging and inclusive environment that inspires individuals to develop their abilities, strengthen their character and tslfil their potential. The schools will develop the potential of and promote educational opportunity for all those with the academic ability to access the curriculum, by encouraging the pursuit of excellence. providing high quality t¢aching, outstanding pastoral care and an extensive range of extra-curricular activities. They will embrace a5 wide a cross section of the community as possible and support pupils I￿eSpeCtive of their social or economic background. Page 5

Docusign Envelope ID.. 69928D1 D_236B4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 During the year. the focus of the schools has been on the continued achievement of academic perfonnanc¢ and promoting a cultur¢ that encourages the well-being of our pupils. FUTURE STRATEGY AND TRANSFORMATION PLANS On 29 April 2024. Governors unanimously voted io restructure the Foundation into a single school, to be named Queen Elizabeth's School, Wakefield. A name that honours and reflects our rich 433 year legacy and ow founding Royal Charter. Queen Elizabeth, s School will be operational from I September 2026. The school will continue to provide an excellcnt academic and pastoral experience to students from ages 3 to 18 but within one co-educational, diamond model school. By uniting our family of Schools into a co- educational setting but with single sex teaching between ages I l and 16, we will bring a best of both worlds experience, combining the benefits of single sex academic focus with the broader experience of co- education. We will support our students to thrive in a rapidly evolving world. This strategic transfornlation will nol only enhance our academic and pastoral excellence, but will also unlock significant operational efficiencies to bolster the long-lern] financial strength and sustainability of the Charity. In taking this important decision Govemors have undertaken detsiled strategic and operational reviews to establish the impact of these changes and to consider proactive changes that maintain our vision and mission in a changing society and within today's changed financial landscape. From l January 2025, Dr Brookes. current Head of QEGS became the Executive Head of the current school structure. Dr Brookes will lead the transition to the new school structure and then subsequently lead Queen Elizabeth's School. Mrs Gill. current Head of WGPPS, became Head of the Preparatory Section with responsibility for stud¢nts from age 3 to 10. PIiBLIC BENEFIT Wakefield Grammar School Foundation is a charilable Company whose primary objective is to provide an education to children aged between 3 and 18 years at schoo15 in Wakefield. The schoo15 aim for excellence in acadernic achievement in addition to allowing the children to develop in an exciting and stimulating enviroDrnent. It is the view of the Governors that children from all backgrounds should have the opportunity to attend and benefit from the Foundation's schools. When planning our activitie5 for the year the Foundation has considered the Charity Commission's guidance on public benefit. Bursaries The Foundation provided financial assistance to 292 pupils in 2023124 (315 in 2022123). This represents 18 % of the 2023124 average total school roll of 1,61 I pupils (2022123 170/0 of 1,877 pupils). The monetary value of the fmancial assistance was £2.479k (£2.385k in 2022123) which is 9 /D of the total fee income {90/0 2022123). Financial assistance is given in the forni of bursarie5, sbort tem] awards to relieve hardship, and support for unifornis, travel to school and for educational trips. The Foundation also has a number of modest scholarships which are used to acknowledge pupils, academic or sporting excellence or PTovid¢ fmancial assistance to certain qualifying pupils. Bursaries are typically providcd to pupi15 who meet th¢ schools. academic entrance criteria as a reduction in school fees, most awards are made in a range of between 25fj/0 and 75Q/o of tuition fees. The majority of the bursarial support available is in the hvo senior schools. The Foundation is no longer able to offer bursaries 111 Page 6

Docusign Envelope ID.. 69928D1 D-236B-4B5A-AF9E-7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 the junior section. The level of bursary that may be offered to a pupil is dependent on the financial circumstance5 of the child's parents or legal guardians. The Foundation has agreed cut off levels at which bursarial support may be offered. The Foundation effectively assesses after tax household income which will include a notional income based on assets, investments and equity in property andlor a business where applicable. An allowance is also given for any other children in ￿11 time education. During the year, bursaries were available where household income is below £60,000. Inforniation on how to apply for bursaries is provided in the schools. prOspec￿seS and on the Foundation website. Bursaries are principally awarded in year 7, although applicants from parents ar¢ welcome at other times if financial circumstances change. Bursary awards are then Ca￿led forward through a pupil's time at the senior school until he or she leaves subject to meeting financial criteria. Recipients of awards are requested to fill in a financial questionnaire each year and provide documentary evidence that iheir income is still within the qualifying parameters. WGHS Senior School offers a further free place, the Hepworth-Knott bursary which is fvnded from the sale proceed5 of two sculptures by forn]er pupil Dame Barbara Hepworth and a legacy froni Miss Margarel Knott, a popular, long-serving formeT Headmistress. Philanthropic support has enabled QEGS to support 3 students Wlth IOOQ/o bursary support. A generous legacy gift from the family of Anthony Albert Denton enables a l 00 % funded bursary to be made available to a senior boy. This legacy is held a5 an endowed fund. A donation from a supporter who wishes to remain anonymous generously supports two senior boys with IOOO/o fees support. We offer thanks to all donors who support our bursary programme and are making a transforniational change to young people's lives. Details of our bursary giving programme can be found here httPS:Ilwgsf.org.uklmake-a-gifv. Governors acknowledge that there are many more applications for fees support than bursaries that can be offered. Tt is also recogni5ed that financial constraints, including the introduction of V A T will unforNnately impact on future availability of bursary support. Increasing philanthropy to support bursary provision is a key objective for the Foundation. Partnerships with State Schools Partnership5 Ivlth State Schools - ISSP Wakefield Granunar School Foundation has been involved in Independent State School Partnerships (ISSP) since they were introduced in 1997. This has enabled meaningful collaboration between the schools in the delivery of Maths and Science, professional developm¢nl of teachers and science outreach to local primary schools. M05t recently this has involved twilight Physics tNSET for existing and aspiring physics teachers from across the local area. Partnerships with State Schools- SHINE In Autumn 2016, the Foundation launched its SHINE 'Serious fun on Saturday, programme. SHfNE is a leading educational charity whose focus is social mobility through education. We are the first school in West Yorkshirg to be awarded a 'Serious Fun on Saturday, contract with SHINE. 'Serious Fun on Saturday, is a programme hosted by independent schools for pupils from local state schools who may be less likely to access additional educational support outside School. The project aims to deepen pupils, understanding and instil a desire to learn more achieved through offering innovative, fun. focussed activities. Although funding for the programme only lasted for the first three year5. the Foundation sces it has such an important role within the community that we continued to budget for and run the programme internally. Our programme at WGSF provides a major opportunity for deserving children from some of the more deprived areas of Wakefield to further their educational development and enjoy an innovative and exciting range of Page 7

Docusign Envelop8 ID.. 69928D1 D.236B4B5A_AF9E_7BB2E7A39BBB Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 lessons. Our prirnary partners are Green Hill Prirnary School. Parkhill Junior & Infant School, St Michael's CE Acad¢rny, St Mary's Primary School and Flanshaw JunToT and Infant School. The WGSF programme involves 28 Year 5 pupils from our primary partner schools attending the Wakefield GramTnar School Foundation Campus from 9.30am-12.00 noon on nine Saturday mornings during tern] time. The leaming sessions are delivered by specialist WGSF teacher.s who are pa55ionate about their subject area and supported by Sixth Fonn Mentors. Specialist facilities and resources are employed in each subject area. The Year 5 pupils therefore work in a culture where excellence and enquiry is actively encouraged, establishing an increase in the children's aspirations and self-esteem. Tt also helps to provide an insight into what they can expect at secondary school, enabling them to be more confident and positive about the opportunities it provides. The final Saturday - The SHINE Celebration event involves the families of participants being invited to share in the presentation of certificates & awards. WGHS has extended this so that in the Spring Terni EDGE block, some Year 12 pupils from WGHS will visit these Primary schools on a Thursday afternoon to assist in the classroom, delivering various acrivities. QEGS has also run a summer reading programme with boys from Y l O and I l. volunteering to help students with their reading skills. In addition to this as part of QED, there ar¢ year 12 pupils who have volunte¢red at St John's Primary and Pinder's primary, assisting in the classroom. P8rtnership5 Ivlth State Schoo15: Joint Latin teaching Joint teaching between QEGS and St Thomas a Becket Catholic School, an academy in Wakefield, has been running for eighteen years. The Head of Classics at QEGS is released weekly tu teach Latin to Year 10 pupils at St Thomas a Becket and he also teaches Latin to a class of Year I I pupils from St Thomas Becket's on Friday afternoons. In addilion, there are revision lessons and additional lessons during the school holidays ds appropriate, which are offered to pupils from both schools and these have been popular and Success￿]. From this iiiitiative St Thomas a Beckel pupils have the Oppor￿nity to leam Latin which no other state school pupil in th¢ Wakefield area does, and this also benefits both their English and Modern Languages learning. It offers a real academic challengc, with Latin's statistical record as the most difficult GCSE of all. As a school St Thoma5 a Becket gains as a "flagship" programme for their gifted and talented pupils and it adds an academic prof ile to the school which it has not had before. A number of pupils are enablcd to gain the EBacc qualification that would not othenvise do so. In the last few years, the previous Head of Classics at QEGS also led five trips to Rome for pupils from St Thomas a Beckel which bring5 immense benefits beyond the classroom with the reputation of QEGS being enhanced considerably by its association with these trips. More infonnation is available on the Schools Together website.. 5:l/www.schoolsto ether.or ¢ase-5 die l?schoolld-71206 Music The outreach projects connect pupils from the Foundation with their peers in the maintained sector. 14 musical pupils from WGSF travel to Manygates each week where they rehearse with similarly skilled children from other schools in the area. They prepare a programme of orchestral music for twice yearly concerts at Wakefield Cathedral. Patient Liai50n Volunteers Working with our local hospital, Pinderfjelds, Year 12 and 13 pupi15 have the opportunity to apply for a role as a Patient Liaison Volunteer. They become part of the Mid Yorkshire tearn and play a crucial role in enhancing the experience of patients, carers, visitors and staff. They do this by perforn]ing a wide variety of tasks throughout the Trust to complement the work of our nurses and other paid staff. The pupils get hands- Page 8

Docusign Envelope ID.. 69928D1 D.238B-485A-AF9E-7BB2E7A39B88 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 on experience in a hospital environment and have a huge impact on our patient services and life ID hospital. A5 well as the difference they make to others. our pupils describ¢ th¢ positive iTnpact beir]g a volunte¢r has made on their own lives, helping them to meet new Iriends and improve their self-confidence and motivation, and feeling they have a valuable contribution to make which is greatly appreciated. Pupils have donated many l OOS of hour5 over the past 5 years of the parthcrship and have changed the experience of rnany elderly, isolated and hospital bound patients. During the pandemic pupils were on the front line a5SlSting with technology that enabled patients separated from loved ones to communicate for example using ipads, facetime and skype. Widening Participation We seek to level the playing field for the most disadvantaged pupils through the use of a range of measures that prornote widening participation through contextyal admissions and additional academLC SUPPOrt at 6th Forni. On application to join year 12 following GCSE we have taken into consideration a range of similar factors to those used by higher education institutions including= You are the first generation of your immediate family to go to university. You attended a school achieving below the national average at GCSE (Attainment 8 Score). Your studies have been disnjpted by circumstances in your personal, social or domestic life. You live in an area with low progression to higher education (see our online postcode checker). Usually polar 4 quintile l or 2. You live or grew up in public care. Our Widening Participation Program has been designed to provide support by using academic activities and tasks that prepare pupils for success at A level, bridging the gap between ability and attainment. A support package for parents of pupils from wideniJ)g participation backgrounds, to commence in Aurumn 2023. has been designed particularly to support parents who did not go to university themselves andlor those whose own experience of education is not in the UK education system meaning they need more support in order to help their child to realise thcir pot¢ntial. We also aim to support parents and giiardians to see value in some of the p05t 18 opportunities such as higher education. Towards the end of the 6th fom joumey we also help these pupils to identify and access those widening participation opportunities, contextual offers, scholarships and bursaries they are eligible for in post 18 university admissions. Community use of Foundation facilities Another aspect of the Foundation's public benefit provision is in the use of the schools, grounds and facilitie5 by public bodies, amateur arts or sports groups and other charitable organi5ations. These groups use the school buildings or sports facilities at cost, below cost or in some case5 free of charge. Local clubs and organisations which were able to benefit during the year included Yorkshire Philarnjonic Choir, Wakefield Hospice, Wrenthorpe Badminton Club, Wakefield Concert Society, Diddikicks and Calder Valley wood carvers amongsl others. Additionally. Atlantis Swimming School hired the swimming pool for teaching children to swim. In September 2014 the Foundation entered into a fomial lease with Next Generation, a Wakefield Community Youth Charity for the use of Stanley Royd playing fields and this has facilitated an arrangem¢nt for Wakefield College to use the fields for some of their sports courses. This lease was extended in 2019 and Next Generation, the local community and Wakefield College continue to benefit from the arrangement. Page 9

Docusign Envelope ID.. 69928D1 D-236B.4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 School ChATlty Support Charity fundraising and charity events continue to be a regular and important feature of school life, ranging from high profile annual events, such as the WGHS Christmas Charity Fayre and Foundation Charity Fayrc to support for individual charities and pupil-led events, most notably cake sales. The school's Charities Committees play an important role in this. democratically deciding which charities are support each tem)lacademic year. The fimds raised by the WGHS cornmunity - as a through school - for the year are £14,975. In QEGS, the House system plays a huge role in charitable activities with each house supporting a local charity: Bentley sUPPOrt Yorkshire Children's Charity. Cave support Wakefield Hospice, Freeston support Andy's Man Club and Savile support Yorkshire Air Ambulance. In addition to this, national, international and local charities are supported through both staff and pupil initiatives. Through a pupil initiative, funds for The Oddballs Foundation and CoppaFeel were raised through the Total Warrior event - entrants were in year 12 from QEGS and WGHS. A total of £5,743 was raised in total for these charities. There have also been non-financial aspects - coat and clothing collections as well as Easter egg collections for YCC. The funds raised by the QEGS community- as a through school- for the year were £12,288. Each year WGPPS pupils, parents and staff nominate the charities they would like to fundraise for. For 2023-24 WGPPS pupils selected Leeds Hospital Charity and Wakefield Hospice as their nominated charities and raised £6,862. Staff in the Foundation continue to offer their time and effort5 to support a range of local charities including a large number of staff running Wakefield l Ok for 'Team Tom, and Wakefield Hospice, the Hcad of WGPPS running the London Marathon and completing a sponsored abseil for the same charity. The Governors, the Director of Finance and Operations, the Homes Manager and the Estates Manager of the Foundation provide trustee and management services to Wakefield Charities, Homes, an aims house charity and Registered Social Landlord which provides low cost accommodation for elderly people in need who have connections with the City of Waketield. Page 10

Docusign Envelope ID.. 69928D1 D-236B.4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 EQUALITY, D￿ERSITy APID INCLUSION The Foundation 15 committed to prolnoting equality and valuing diversity throughout our community, including our staff and students. During the year. Senior Managers within the organisation engaged in a structured programrne of workshops to explore and promote diversity Wlthin our Foundation and to begin a process of creating an EDT action plan. DISABLED PERSONS Due consideration is given to application5 for employment of per50n5 with a disability, either in arrangements for attending interview, or for any adjustments which may be needed when a role has been offered and accepted. Arrangements are made, wherever possible. for the retraining of employees who develop a disability during the course of their employment and reasonable adjustments are made to allow them to continue to fulfil their duties. The company provides for the adequate training, career development and promotion of all staff with a disability. EMPLOYEE INFOR1￿TIoN During the financial year the Foundation has continued to develop affangements to improve the depth and quality of employee infomialion. The aim of this is to enable well managed, respect￿] employee relationships that enable good plannin& promote and measure equality and identify any concerns at an early stage. The foundation encourages employees. understanding of the Foundation's performance and strives to achieve a common awareness of the financial and economic faclors affecting the Foundation's financial perfomiance. Meetings are held temily with staff representative5 on the Joint Negotiating and Consultative Committee (JNCC) in respect of teaching staff, and as rcquired with representatives for the support staff to discuss matter5 affecting the Foundation and its staff. STRATEGIC REPORT REVIEW OF THE YEAR AND FUTURE DEVELOPMENTS The Governors recognise the importance of their govemance strUc￿re in sUPPOrting the operational perfonnance of the school. Details of ihe training and governance structure are included within the Structure, Govemance and Management section of this report on pages 4 and 5. Like Tnany independent Schools, the Foundation has been operating in challenging circumslances. The legacy of the Covid pandemic continues to be felt financially. pastorally and for some pupi15 academically. Inflation has continued to be a challenge during this finanrial period with utilities, catering. tran5POrt and estate maintenance costs particularly impacted. During the year, the potential for the introduction of V AT on school fees and the loss of charitable business rdtes relief became increasingly apparent and the Foundation undertook scenario planning, consulted with advisers and engaged with the sector to ensure readiness. The introduction of VAT on School fees from I January 2025 and the loss of busine55 rates relief was confirn]ed in the Government's budget statement on 30 October 2024. The Foundation recognises that the introduction of VAT will change the independent school sector, including our Foundation. The policy will have a significant impact on current Foundation families and those who rnay be considering an indcpendent education in the future. The Foundation will continue to act with agilily and integrity in response to the introduction of VAT. tn particular. the Foundaiion aims to minimise any educational dAsnLption for current students in key ¢xam years. The Foundation is rnindfvl that fee affordability remains a key and increasing concern for parents. Page 11

Doojsign Envelope ID.. 69928D1 D_236B4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Academic Achievements Nurturing a joy for learning is fundamental to the vision of the Foundation and whilst this is demonstrated in many ways the encouragement aTJd celebration of learning means that th¢ Foundation's schools consistently achieve strong academic result5 at each stage of a student's schooling. The schools continue to add value to the grades the pupils achieve in many Subjects with significant uplift in Subjects such as the sciences, Art and DT. WGPPS contlliues to set ambitious academic targets that aim for all children to be working at 105 or above in standardised testing in reading, SPAG (spelling, punctuation and grammar) and Maths by the end of Year 2. Cu￿ent data shows pupils are above national { 100) in all areas and the number of pupils achieving ELG (Early Learning Goals) by end of FS2 is also above national averages. Children make significant progress in phonics against the RWT scheme. At QEGS JS, pupils achieve well above the national average (I 00) in standardised testing. This year's cohort of Y6 pupils achieved a slandardised average of I I l in reading and 117 in maths. Averages across the year groups are comfortably above I l O. At WGHS JS, pupils achieve well above the national average (100) in standardised testing. This year's cohort of Y6 pupils achieved a sthndardised averdge of112 in English and I l O in maths. Averages across the year groups are con51Stently above I l O. Once again WGHS and QEGS continued to perform well in the 2024 public examinations for both A Levels and GCSE. At WGHS, this year's cohort of A-Level pupils achieved 67% A to B grades compared to a national average of 54Q/o. 71 % of students secured a place at their first choice university. At GCSE, WGHS pupils Secured an impressive set of results with 5011/0 of all grades falling in the 9 to 7 braLket compared to a national av¢rage of 220/0. Furth¢rmore, 3 10/0 of results werc graded 9 or 8. AI QEGS, this year's cohort of A-Level pupils achieved 660/0 A to B grades compared lo a national average of 540/0. 73 % of students secured a plaLe at t]ieir first choice university. At GCSE, QEGS pupils secured a very pleasing set of results with 540/0 of all grades falling in the 9 10 7 bracket. Extra-curricular offer The Foundation continues to place great emphasis on the benefits of a broad and inclusive educational experience. The schools offer a full and varied programme of extra-cu￿1¢lllar activities either offered within our timetable through the QED and EDGE programme, Forest school or as part of lunchtirne or after school activities. There are also Strong community links with a range of clubs and partnerships across Wakefield that give our pupils pathways to enable them to develop their interests. The Foundation believes that students gain real benefit through their participation in extra-curricular activities whether that be improvements to their well-being, their confidence or academic achievemenl. Feedback is taken from pupi15 and parents. so the schools can adapt their offer dependent on the interests of cutTent pupils. Employees The average number of employees across the Foundation was 368 in 2023124 compared to 382 for the previou5 year. This reduction in staffTng was split equally between teaching and support staff and reflects the reduction in student numbers. Page J2

Docusign Envelope 10.. 69928D1 D-236B4B5A-AF9E-7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Estates The Foundation has the benefit of a significantbut complex estate. The Foundation invesls in both maintenance and improvement to ensure that an appropriate learning environment is available for all sMdents. Fixed asset additions were £1,161k (2022123: £1,406k). This includes continued work on the Clayton 51te to secure its structural integrity as required by planning conditions and on the purchase of 3 Wenttvorth Street, the fornier Christian Science Church. The purchase of this building provides the Foundation with athlitional hall capacity but more importantly completes the Wentworth Street estates footyrint enabling maximum flexibility for the whole site and supporting futtre development potential. The Foundation also continues to invest in energy saving initiatives such as LED lighting and ¢n¢rgy efficient boilers. Th¢ Foundation ensures that health and safety is a priority. The Foundation has a robust healih and safety management System. with review, inspection and Governor oversight a key part of ensuring effective compliance. The Tnajority of health and safety incidents reported relate to student slips, trips and falls, particularly in our younger age groups. During thc year there were two reportable health and safety incidents neither in which have resulted in any further action or requirements. Pupll Nutnbers Average numbers of pupils in the schools werc., 2024 Number 554 140 656 122 139 2023 Number 620 156 719 161 221 WGHS Senior WGHS Junior QEGS Senior QEGS Junior WGPPS TOTAL 1,611 1,877 FINANCT AL RESULTS Last year, the Foundation amended its accounting reference date to 31 August resulting in a thirt¢¢n month p¢riod and this is r¢flected in the comparative data. The Foundation report5 a net increase in thnds for the year of £19k. This result is significantly bolstered by strong unrealiscd investment gains of £828k, Operationally, the Foundation returned a deficit of £807k (2022123 £93 Ik). Whilst this 15 not an acceptable result, in the challenging circumstances of the year this was an expected outcome. Net fee income of £23,396k (2022123 £23,259k) increased marginally in the year. This increase was a factor of increased annual school fees against reduced student numbers. The number and value of new bursaries offered also reduced in the year, slightly rebalancing the proportion of fec discounts to gross fee income. Further rebalancing is required going forward and the Foundation will unfortunately need to reduce bursary provision. Govemors are seeking to increase philanthropic support for bursaries. We are gratefvl to those who already regularly donate or leave legacies to support our bursary scheme. Governors recogni5e that affordability for parents is a key concern. Recent fee increases have brought the Foundatior] to a level of fees comparable with other regional independent schools. The Foundation does recognise that with the additional cost of VAT, the ongoing affordability of an independent education is a challenge for many. We anticipate that student numbers will reduce as a result of the introduction of VA T. Reductions are likely to be from current sthdents leaving the independent sector and from lower athnissions. Page 13

Docuslgn Envelope ID.. 69928D1 D_236B485A_AF9E_7BB2E7A39B88 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Commercial operations, mostly frorn the letting of school buildings continucs to grow. CommeTcial operations income increased from £360k to £450k. We continue to review comrnercial opportunities seeking to balance commercial opportunity with the needs of the individual schools. Total expenditure increased from £25,267k to £25,)98k. Whilst the thirteen-month accounting period in 2022123 does not impact significantly on income comparatives, the impact on expenditure compardtives from the inclusion of an additional payroll period is more striking and masks the increase in underlying expenditure. If the thirteenth payroll were not included the compardtive expendi￿re figure for 2022123 would have been £23,787k. Inflationary pressures and increases in employment costs, including increased Teacher Pension Scheme costs and higher national minimum wage contributed to a higher cost base. The Foundation continues to seek cosl efficiencies. As employment costs are the greatest expense much of the cost saving focus has been centred on workforce management. Greater alignment between schools and more cross Foundation teaching has helped to ensure that natural reductions in staffing have been manageable whilst still supporting the broad CU￿1cUlUrn, extensive and sector leading extra-curricular offer and the much valued smaller class sizes. During the period, the Foundation remained an active member of the Teachers, Pension Scheme. The increase in employer contributions from 23.680/0 to 28.60/0 from l April 2024 was identified as a significant financial risk for the Foundation. TT] October 2023, the Foundation entered a period of consultation with Teacher5 regarding TPS membership that concluded with the closure of TPS to new entrants and an agreed change to cu￿ent teacher's remuneration to share the additional cost impact of the increased employer contributions. The Foundation has significant f￿anCIal investments. These are managed by professional investmenl mdnagement companies. Investsnent income is used to support a range of restricted and unrestricted activities, but principally to support bursary provision. There have been no significant changes to thc invcstment portfolios this year. Unrealised gains frorn investments totalled £827k this year (£125k unrealised loss in 2022123) and were a significant contributor to the stability in net fund Tnovement in the year. Governors continue to review investment perfo￿anCe and to ensure that the Foundation is actively managing cash balances. The Foundation has worked hard to maintain ils liquidity position and Govcrnors consider the financial position as at 31 August 2024 to be healthy. Cash balances include receipt5 of fees in advance. Fee5 in advance agreements increased in the year, the increase in fees in advance agreements can also be seen in the increased creditor position (notes l O and I l ). Net assets havE increased £19k from £25,820k to £25,839k. The Foundation had a net current asset position of £218k an improvement from the nct cutTent liabilities position of £413k in 2022123. The accounts have been prepared on a going concern basis. Governors consider there to be no material uncertainty which casts doubt on the Foundation'5 ability to continue a5 a going concern. Page 14

Doclhslgn Envelope ID.. 69928D1 D.23684B5A.AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, IIEPORT FOR THE YEAR ENDED 31 AUGUST 2024 FUTURE STRATEGY ANJ) TRANSFORMATION PLANS On 29 April 2024, Governors unanimously voted io re5trllcture the Foundation into a single school. to be named Queen Elizabeth's School, Wakcfield. A name that honours and reflects our rich 433 year legacy and our founding Royal Charter. Queen Elizabeth's School will be operational from I September 2026. The school will continue to provide an excellent academic and pastoral experience to swdents from ages 3 to 18 but within one co-educational. diamond model sch(yol. By uniting our family of schools into a co- educational setting but with single sex teaching between ages I l and 16, we will bring a best of both worlds experience, combining the benefits of single sex academic focus with the broader experience of co education. We will support our stydents to thrive in a rdpidly evolving world. This strategic transforniation will not only enhance our academic and pastoral excellence, but will also unlock significant operational efficiencies to bolster the long-terni financial strength and sustainability of the Charity. In taking this irnportant decision Governors have undertaken detailed strategic and operational reviews to establish the impact of these changes and to consider proactive changcs that rnaintain our vision and rnission in a changing 50¢iety and within today's chan8cd financial landscape. From l January 2025, Dr Brookes, current Head of QEGS became the Executive Head of the current school structure. Dr Bruokes will lead the transition to the new school structure and then subsequently lead Queen Elizabeth's School. Mrs Gill, cu￿ent Head of WGPPS, became Head of the Preparatory Section with responsibility for students from age 3 to 10. The Foundation has a strong balance sheet and sufficient reserves and asset strength to fund transfonnation plans without impacting on the fee posilion of current parents. RESERVES POLICY The Foundation's Reserves Policy requires the Foundation to hold, or aim to hold, free reserves of a minimum of £3 million, as a contingency in order to maintain the stable operation of the school in the case of a ￿tUre unforeseen event. Free reserves are considered to be unrestricted ￿nds, excluding the Designated Funds and excluding the carying value of tangible fixed assets held within general reserves. They are as sbown in note 13 of these accounts.. The Foundatkon's total reserves of £25,839k at the year end included £2,729k restricted and endowed funds and £23,1 Iok unrestricted funds. Of these unrestricted funds, £6.3m is held in Designated Fund5. The Designated Funds are not considered to be "free reserves" as the Foundation has made a commitment to use these fiu)ds for specific purposes. The Foundation does not hold any free reserves at 31 August 2024 (31 August 2023.'Nil). Free reserve5 Stated with the inclusion of the designated funds were £4.194k (2022123.. £4,190k). Going forward the Governors are confldenl. that the restructure of the schools into a single diamond model school will enable future financial sustainability and a return to a positive free reseryes position for the Foundation. RISK MANAGEMENT The Governing Body has overall responsibility for risk management within the Foundation and this is delegated to the Risk and Govemance Committee. In the opinion of Governors, the Foundation has established systerns which, under norn]al circumstances. should allow those risks to be mitigated to an acceptable level in its day-tfrday operation5. Page 15

Docvslgn Envelope ID.. 69928D1 D_236B4B5A.AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Governors continue to keep the Foundation's activities under review, particularly with regard to any major risks that may arise from time to tivne. A comprehensive Risk Register is maintained by ihe Governors that itemises risks likely to be encountered by th¢ Foundation, along with the systems and procedures that are in place in order to mitigate the risks. The registcr is reviewed by the Risk and Govemance Committee and the Board on a ternily basis. The risks are classified on the register as High, Medium and Low and are quantified based on a score for both level of impact and likelihood of OCCU￿encc. The major risks to the Foundalion as noted OT] the Risk Register are The impact of VA T on school fees and other changes in either charitable status or charitable reliefs including the removal of business rates relief The affordabklity of school fees for parents and the impact on student nurnbers Management of a SLgnificant change programme The Governors believe that appropriate controls are in plac¢ to manage these risk5 Successfully. Governors mon itor the effectiveness of the controls, including providing insurance cover where appropriatc, by which those risks identified by Governors can best be mitigated. The key controls used by the Foundation include: Forrnal agendas and minutes for the Board and all Sub-commitfres Tenns of reference for all Committees Tennly review of the Risk Register Appointment of a dedicated Health and Safety Manager and a Cornpliance Manager who give tennly reports to the Governors at the Risk and Governancc Committee Comprehensive strategic planning, budgeting and management accounting Established organisational structure and lines of reporting Fornial written policies Fomial risk assessments undertaken for all in-school activities, educational vi51ts, classroom environments, and workplaces Comprehensive fLre risk asscssments for all Foundation prcmises undertaken by an accredited third paty organisation Cornmitment from Governors and Head teachers to ensuring d Strong culthre of health and safcty amongst all employees and to provide fi￿dIng for expenditure to address H&S matters as required All staff receiving appropriate safeguarding, health and satety, fire safety and GDPR training Clear authorisation and approval levels Vetting procedures as required by law for the protection of the children and vulnerable adults. The Governors of the Foundation consider its underlying financial risk to be moderate. It a strong cash flow, no borrowing5, and pupil number5 remain at a reasonable level. Investments are made in accordance with Foundation policies and a long te￿ view is taken. INVESTMENT POWERS, POLICY AND PERFORMANCE The Governors are permitted to invest available funds at their absolute discretion. The Governors delegate the management of the Foundation's investments to Julius Bar Tnternational Ltd and Rathbones who provide regular valuations and report directly to the Finance Committee every year. The Finance Committee has set oui its investment principles, the specific long-terni objeclives of which are the achievement of a balance of income and browth with total annual retLwns at least matching the perfomiance of the ARC PCI Global Balanced indcx. Between I SepteTnber 2023 and 31 August 2024 the value of the Foundation's investments increased by 12 % from a COTnbination of re-invested retums and investment gains. The Foundation's investment portfolio reflected general market perfonnance. Page 16

Docusign Envelope10.' 69928D1 D-23684B5A_AF9E_78B2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 In addition to the above investmcnts. the Foundation holds £7.6m cash at bank in accessible accounts. including instant access, short tenn deposit and treastlly accounts. This balance can vary Significantly depending upon the time of year. The increase in the cash balance from £5.7m at 31 August 2023 to £7.6m at 31 August 2024 includes a number of fees in advance receipts. Cash balances are principally held to support day to day operations and regularly accessed designated funds. The Investment Committee will continue to review investsnent perfornlance and cash balances with the goal of making recommendation5 for improving the rettrn on these assets. FUNDIL4ISING Approach to Fundraising The Foundation has in place a Gift Acceptance Policy and Code of Ethical Fundraising Practice and is registered with the Fundraising Regulator, abiding by their Code of Fundraising Practice. Adherence to these policies ensure5 that the Foundation has a professional approach to fill)draising. The Foundation has a Development Office that has primary responsibilities for.. Building and maintaining alumni relations and communication as well as to arrange alumni event5. Providing a strategic and tactical approach to fundraising for the Foundation, encompassing bursaries, major capital fundraising as well a5 legacic5. Providing a range of opportunitics for alumni to engage with and sUPPOrt current students within the Foundation through mentoring and careers talks and 5UPPOrt The Development Office fundraises predominantly for bursaries across the Foundation. working to ensure that potential students are able to access an education at the Foundation, no matter what their financial background. Working with professional fundralsers During the year, WGSF has not worked with any external profe88ional fundraisers. Fundralslng conforn]ing to recognised standards The Foundation is registered with the Fundraising Regulator and therefore bound by its code of practice to ensure that we conforni to rccognised standards. Monitoring of fundraising 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 ￿ndraising during this f￿anCIal year. The complaints process is detailed in the Section A(8) of WGSF'S Gift Acceptance Policy and Code of Ethical Fundraising Practice. Page J7

tlocusign Envelope ID.. 69928D1 D-236B4B5A-AF9E-7BB2E7A398B8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Protection of the public including vulnerable people WGSF adheres to the Fundraising Regulator's Code of Fundraising Practice, in particular Section I Standards.- All fvndraising states that fijndraising will be legal, open, honest and respectfijl. Section A point 4 of the WGSF Gift Acceptance Policy and Code of Ethical Fundraising Practice states that Donors will be encouraged to seek ind¢pend¢nt advice if th¢ Foundation has any reason to believe that the donor is vulnerable or a proposed gift might significantly affect the donor's fmancial position. taxable income. or relationship with other family members. Furthemiore Section B( l) states that fundraising solicitations on behalf of the WGSF will.. be truth￿1 accuratly describe the Foundation's activities and the intended use of donated funds r¢specl the dignity and privacy of those who benefit fi'om the Foundation's activities Adhere to th¢ Fundraising Regulator's Code of Fundraising Practice Page 18

Docusign Envelope ID.. 69928D1 D-236B4B5A-AF9E-7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 STREAMLINED ENERGY AND CARBON REPORTING (SECR) This report has been compiled in line with the March 2019 BEIS 'Environmental Reporting Guidelines: Including streamlined energy and carknn reporting guidance,, and the EMA methodology for SECR Reporting. All measured emissions from activities which the organisation has financial control over are included as required under The Companies (Directors. Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018. The carbon figures have been calculated using the DESNZ 2023 carbon conversion factors for all ￿els, other than the market based electricity which has been taken from British Gas & OPUS as the UK suppli¢r. UK Carbon Footprlnt Data Combustlon of fuel on site and transportation On site.. Location Natural based Gas, Diesel, 838 943 837 808 Market Based 838 943 845 837 808 Location Purchased Electricity, based energy EV Market Based 387 302 282 294 267 29 Employee Business Mileage Market Based Location based Location based Indirect Emissions 1226 1245 1127 1131 1075 Market based 867 943 837 808 Localion based Market based tC02e l £M Turnover 2.72 3.08 2.79 2.48 2.48 1.93 2.33 2.09 1.87 Electricity, Natural Gas, Diesel, EV Totsl kwh consumed 6.060 855 6 559,500 6,073 387 5 977 682 5 697,456 1000 Renewable Electricty Emlsslons detall by fuel type Locatlon bayed method Page 19

Docusign Envalope ID.. 69928D1 t>236￿BsA_AFgE_7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Year on Year Emissions Changes Wakefield Grammar School Foundation's location based emissions decreased from 1,130 tC02e in 2022123 to 1,075 tC02e in 202)124, this is an emissions reduction of 4.9Q/o. Scope l emissions decreased from 837 tC02e in 2022123 to 808 tC02e in 2023124. This is an emissions decrease of 3.5010. This is due to an reduction in scope l transport {Petrol & Diesel) emissions. Scope l transport emissions decreased from 12 tC02e in 2022123 to 7 tC02e in 2023124. Natural Gas consumption decreased from 4,510,752 kwh in 2022123 to 4,379,861 kwh, this is a 2.90/0 decrease and resulted in an emissions decrease of 24 tC02e associated with Natyral Gas consumption, Scope 2 electricity consumption decreased from 1,417,698 kwh in 2022123 to 1,288,900 kwh in 2023124. a 9.1 0/0 decrease in con5umpiion. Scope 2 location based cmissions decreased from 294 tC02e in 2022123 to 267 tC02e in 2023124. Unlike market based emissions which remained at O tC02e, location based emissions decreased. Wakefield CTrammar School Foundation report their infrnsity ratio on an employee nurnber basis. Emissions per employee have slightly decreased from 2.485 tC02e per employee in 2022123 to 2.482 tC02e per employee in 2023124. Statement of Exclusions Scope l exclusions No exclusions made Scope 2 Exclusions Scope 2 purchased electricity does not include the Transmission and Distribution element as this is owned by the supplier. Scope 3 exclusions Scope 3 is voluntary Estimation methods used No ¢stimations madc. Energy Efficlency Actions tsken Replaced fluorescent & Halogen lighting- Worked with Sylvania to replacelretro fit lighting with energy elficient LED lighting through 4 buildings, 300+ fittings. This included implementing sensors for lighting in toilets, changing rooms, and cleaning cupboards. Replaced l Removed boilers, hot water cylinders - reduced using two boilers to one in Porters building. The one boiler has the capacity to the building. Replaced hot water cylinders in are QEGS main kitchgn, Languages block with more efficient cylinders. Implemented Pipe lagging in boiler rooms where it was missing. Internal stakeholder communications - Engaged with stakeholders to create a sense of ownership and responsibility. Tmplemented energy-efficient prdctices, i.e. setting optimal temperature controls and using natural lighting. Ensuring windows (andlor door5) were not open and the heaters (and/or Acs) were not on. Encourage students to use the school bus routes. In 2023124, the first year with the managed service provider, 2.424 school journeys were undertaken. This replaced an equivalent of 50,148 individual car j ourneys, saved 241.23 tc￿ and 71.82 tco emissions offs¢t. Page 20

Do￿sIgN Envelope ID: 69928D1DQ36B4B5A_AF9E.7BB2E7A39BB8 Wakefield Grammar School Foundation GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 AUDITORS Saffery LLP have expressed their willingness to ¢ontitiue in office as Auditors for tEte next financial year. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDrroRS Each of the person8 who are Governors at the time whell this Governo￿, report is approved has confirmed so far as tbat the Governor is aware. th¢re is no r¢levaot audit infoLThLition of which the company's auditor is unaware, and that the Governor has taken all the steps that ought to have been tsken as a Gov¢rnor in order to be aware of any relevant audit infoTm8tion and to establish that the company's auditor is aware of that inforniation. Governors, rcporL including a Strategic Repot¢ approved by order of thc Board of Qovcrnors, as the company directors, Oi27 May 2025 and signed ou tbe Board's behalf by: ggn•d by. 6IOA4BE379lCdC.C... Mr M Shevill Chair of Governors rs C Harrison Vice c.bair of Governoys Page 21

Docuslgn Envelope ID.. 69928D1 D_236B_4B5A.AF9E_7BB2E7A39888 Wakefield Grammar School Foundation GOVERNORS, RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS Th¢ Govemors (who are also dircctors of thc Foundation for the pU￿oseS of company law. and the Charity Trustees) are responsible for preparing the Governors, Report and the ftnancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Gencralty Accepted Accounting Practice). Company law requires the trnstees to prepare f￿ancial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trjstees are required to.. select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP (FRS 102); make judgements and estimates that are reasonable and pNdent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the fmancial statements on the going concern basis unle55 It is inappropriate to presume that the charity will continue in business. The tn]ste¢s are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial posltion of the charitsble compaTLy and enable them to ensure that the financial stalements comply with the Companies Act 2006. They are a150 responsible for safeguarding the a55ets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection ot. fraud and other irregularitie5. In so far as the trustees are aware.. there is no relevant audit inforniation of which the charitable CDtnpany's auditor is unaware. and the trustees have taken all steps thal they ought to have taken to make themselves awar¢ of any relevant audit infonnation and to establish that the auditor is aware of that inforniation. The tn￿tee$ are responsible for the maintenance and integrity of the corporate and financial inforniation included on the charit¥4ble company's website. Legislation in the United Kingdorn goveming the reparation and di55ernination of financial statements may differ frorn legislation in other jurisdictions. Page 22

tlocuslgn Envelope ID.. 69928D1 D.236B-4B5A-AF9E-7BB2E7A39B88 Wakefield Grammar School Foundation tNDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAKEFIELD GII4MMAR SCHOOL FOUNDATION Opinion We have audited the f￿an(la1 statements of Wakefield Grammar School Foundation (the 'parent charitablc company.) and its subsidiaries (the 'group') for the period ended 31 August 2024 which comprise the consolidated statement of financial activities (incorporating income and expenditure account). the consolidated balance sheeL the charity balance sheet, the consolidated cash flow statement and noles to the financi¢il statements. including significant accounting policies. The financial reporting framework that has been applied in their prepardtion is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial Statements: give a truc and fair view of the state of the affairs of the group and the Parent charitable company as at 31 August 2024 and of the group's incoming resources and application of r¢sources, including its income and expenditure, for the period then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordancc with the requirements of the Companie5 Act 2006. Basis for opinlon We conduLted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Aiiditor's responsibilitie5 for the audit of the financial siatements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements rhat are relevant to our audit of the financial statement5 in the UK. including the FRC'S Ethical Stiindard, and we have fulfilled our other ethical responsibilitie5 in accordance with these requirement5. We believ¢ that the audit evidence we have obtained is sufficienl and appropriate to provide a basis for our opinion. Conelusions relating to golng eoneern Tn auditing the f￿anCIal slaternents, we have concluded that the Governors, use of the going concern basis of accounting in the preparation of the fmancial statements is appropriate. Based on the work we have perforn]ed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or the parent charitable company's ability to continue ils a going concern for a period of at least twelve months from when the fLnancial statements are authorised for issue. Our responsibilities and the responsibilities of the Governors with respect to going concern are described in the relevant sections of this rewrt. Other information The other inforniation comprises the infonnation included in the annual report, other than the financial statcments and our auditor's report thereon. The Governors are responsible for the other infornialion. Our opinion on the financial statements does not cover the other infonnation and, except to the extent otherwise explicitly stated in our report, we do not ¢xpress any forni of assurance conclusion thereon. Our responsibility is to read the other infonnation and, in doing so, consider whether the other inforniation is Tnaterially inconsistent with the fmancial Statements or our knowledge obtained in the course of the audit or othenvise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstaternents, we are required to detennine whether this gives rise to a material misstatement in Page 23

Docusign Envelope10.' 69928D1 D-236B4B5A-AF9E-7BB2E7A398B8 Wakefield Grammar School Foundation INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAKEFIELD GRAMMAR SCHOOL FOUNDATION the f￿ancial statements themselves. If. b85ed on the work we have perfonned, we conclude that there is a material misstatement of this other infonnation. we are required to report that fact. We have nothing to report in thib regard. Other matters prebcribed by the Companie5 Act 2006 Tn our opinion, based on the work undertaken in the course of the audit.. the infonnation given in the Governors, Annual Report which includes the Directors, Report and the Strategic Report for the financial year for which the fjnancial statements are prepared is consistent with the financial statements. and the Governors. Annual Report which includes the Directors, Report and the Strategic Report has been prepared in accordance with applicable legal requirements. Mstters on which we are required to report by exception In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Governors, Annual Report and Strategic Report. We have nothing lo report in respect of the following matters where the Companies Act 2006 require us to report to you if, in our opinion: adequate accounting records have not been kept by the parent charitable company, or retyrns adequate for our audit have not been received from branches not visited by us- or the parent charitable company financial statements are not in agreement with the accounting reLords and retums. or certain disclosures of Governors, remuneration specified by law are not made. or we have not received all the infonnation and explanations we require for our audil. Responsibilities of Governors As explained more ￿llY in the Statcment of Governors, Responsibilities set out on page 20, the Governors (who are also the directors of the parent charitable company for the purp05cs of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a tnje and fair view, and for such internal control a5 the Governors deterjnine is necessary to enable the preparation of the financial statements that are free from material misstatement. whether due to fraud or error. In preparing the fmancial statcments, the Govemors are responsible for assessing the group and the parent charitable company's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Govemors either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act. Our objectives are to obtain reasonable assurance about whether the group and parent fmancial statements as a whole are free from material misstatement. whetber due to fraud or e￿or, and to Issue an auditor's report that includes our opinion. Rcasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a tnaterial misstatement when it exists. MisstaterTJents can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence thg economic decisions of users taken on the basis of these f￿anciaL 5tatemenls. PL7ge 24

Docuslgn Envelope 10.. 69928D1 D_236B4B5A.AF9E_7BB2E7A39B88 Wakefield Grammar School Foundation INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAKEFIELD GRAMMAR SCHOOL FOUNDATION I￿egUlaritics. including fraud, are instanLes of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, to detect material missiatements in rcspect of irregularitie5, including fraud. Th¢ specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below. Identifying and assessing risk5 related to I￿egular1t1es. We assessed the susceptibility of the group and parent charitable company'5 financial statements to material misstatement and how fraud might occw, including through dis¢u5sion5 Wlth the Governors, discussions within our audit tearn planning meeting, updating our record of internal contro15 and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charitable company by discussions with Governors and updating our understanding of the sector in which the group and parent charitable company operate. Laws and regulations of direct significance in the context of the group and parcnt charitable company include The Companie5 Act 2006 and guidance issued by the Charity Commission for England and Wales, the Independent Schools Standards as found in the Education and Skills Act 2008 and guidance issued by the Department for Education. Audit response to risks identified.. We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the parent charitable company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements Lfi5ing. We discussed the parent charitable company's policies and procedures tor compliance with laws and regulations with members of manag¢ment responsible for complianc¢. During the planning meeting with the audit team, the engagement parther drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actudl, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the nonnal course of business. We assessed whether judgements made in making accounting estirnates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner'5 review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with law5 and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed non- compliance with laws and regulatlons is from the events and transactions retlected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A ￿rther description of our responsibilities is available on the Financial Reporting Council's website at- www.frc.or .uklauditorsre5 onsibililie5. This description forms part of our auditor's report. Page 25

Docusign Envelope ID: 69928D1 D-236B-4B5A-AF9E-78B2E7A39BB8 Wakefield Grammar School Foundation INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAKEFIELD GRAMMAR SCHOOL FOUNDATION Use of our report This report is made solely to the parent charitable company's mernbers. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we Tnight state to the parent charitable company's members those matters we are required to state to them in an auditor's report and for no other pury)ose. To the fullest extent pennitted by law, we do not accept or assume responsibility to anyone other ihan the parent charitable company and the parent charitable company'5 members as a body. for our audit work, for this report, or for the opinions we have fornied. Sally Appleton (Senior Statutory Auditor) for and on behalf of Saffery LLP Statutory Auditors 10 Wellington Place Leeds LSI 4AP Statutory Auditors Date: aq JtsJ£ Saffery LLP is eligible to act as an auditor in ternis of section 1212 of the Companies Act 2006 Page 26

Docuslgn Envelope ID-. 69928D1 D.236B4BSA.AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation CONSOLIDATED STATEMENT OF F￿ANCIAL ACTIVITIES (NCLUDING CONSOLIDATED tNCOME AND EXPENDITURE ACCOUNT) For the year endcd 31 August 2024 Unrestricted nds Restricted runds Endowed Total funds Funds 2024 Total funds 2023 Nores 12 months 13 months £000 £000 £000 £000 £000 tNCOME AND ENDOWMENTS FROM.. Charitable aclivities Fees receivable Less bursaries, scholarships and fee assistance 26,636 (3,207) 26,636 (3,240) 26,419 (3,160) (33) 23,429 (33) 23,396 23.259 Other trading aclrvilies Commercial operation5 Other activities Ipwesiments Investment income Bank and other interest Volunlary Sourc&g Donations, legacies and Grants 450 300 450 300 360 171 209 12 17 238 loi 168 67 34 67 106 311 TOTAL tNCOMING RESOURCES 24,523 46 22 24,591 24,336 EXPENDITURE ON.. Ckarilable aclivilie.f School Operating Costs Raisingfvnds Commercial trading operations Loss on disposal of fIxed assets 25,356 25,357 25,236 37 37 TOTAL EXPENDITURE 25,397 25,398 25,267 NET (OUTGOTNG) I tNCOMING FUNDS FROM OPERA TIONS BEFORE tKVESTMENT GAINS AND LOSSES (874) 45 22 (807) (931) Gains l (losses) on investments 695 43 89 827 (125) NET (EXPENDITURE) I INCOME Pension Scheme actuarial losses (179) (i) 88 li i 20 (i) (1,056) Net movement in fimds for the year (180) 88 iii 19 (1,056) Fund balances brought forward at l August 2023 23,290 1.374 1.156 25,820 26,876 FUND BALANCES cARR￿D FORWARD AT 31 AUGUST 2024 23.110 1.462 1.267 25,839 25,820 Page 27

Docuslgn Envelope ID.. 69928DI D_236&4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation CONSOLIDATED STATEMENT OF FNANCIAL ACTIVITIES (INCLUDING CONSOLIDATED tNCOME AND EXPENDITURE ACCOUND For the year ended 31 August 2024 There are no recognised gains or losses in the year other than those shown in the statement of financial activities above. Consequently no separate statement of recognised gains and losses has becn prepared. All activities are classed as continuing. Profit for the purposes of the Companies Act 2006 is the Net expenditure / income. Page 28

Do(x￿gn Envelopè ID: 69928D10-236B4B5A-AF9E-7BB2E7A39BB8 Wakefield Grammar School Foundation CONSOLIDATED BALANCE SHEET 31 August 2024 Registered Niullber 04258359 Group 31 August 31 August 2024 2023 £000 £000 Follndation 31 August 31 Angust 2024 2023 £000 £000 Not FD￿D ASSETS Tallgible fixed assets Investtnents 18.916 9,003 19,101 8.033 18.916 9,003 19,101 8,033 27,919 27,134 27,919 27,134 CURRENT ASSETS Debtors Cash at baE 975 7.565 694 5.680 1,155 7.350 829 5,512 8,540 6,374 8,505 6,341 CREDITORS: amounts falling due within one yeaT (8,322) (6.787) (8,312) (6,774) NET CuR]LE￿ ASSETS I (L1ABfL￿IES) 218 (413) 193 (433) TOTAL ASSETS LESS CURRENT LIABTLrriES 28,137 26,721 28,112 26,701 CREDITORS: amounts falling due after more than one year io (2,298) (901) (2,298) (901) 25,839 25.820 25,814 25,800 REPBESENTED BY.. EndowmentFunds Restricted fimds Unrestrictsd fimd5 - Designated fund5 - General fimds 11 1,267 1,462 1,156 1.374 1,267 1,462 1,156 1,374 12 6.300 16,810 6,375 16.915 6,300 16,785 6.375 16,895 13 25,839 25,820 25,814 25,800 The acLouiits wern llppJov￿ and autho￿ for on27 May 21r25 by". 81QA48E379K4W.. Mr M Shcvs11 Chair of Governors Mrs C Harrison Page 29

Docusign Envelope ID= 69928D1 D_236B4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation CONSOLIDATED CASH FLOW STATEMEwr For the year ended 31 August 2024 2024 12 months £000 2024 12 months £000 2023 13 months £000 2023 13 monihs £000 Notes NET CASH TNFLOW FROM OPERATIONS 16 2,842 1,472 RETURN ON fNvESTMENTS AND SERVICNG OF FINANCE Investsnent income receipts Interest received 238 ioi 168 65 339 233 CAPTTAL EXPENDITURE AND FtNANCIAL TNVESTMENT Purchase of tangible fixed assets (1,162) (1,406) Purchase of investments (203) (161) Proceeds of Sale of tangible fixed assets Proceeds of sale of investments 63 59 (1,296) (1,508) INCREASE TN CASH 1,885 197 RECONCILIATION OF NET CASH FLOW TO MOVEMENTS TN NET FUNDS Increase in cash in the year 1,885 197 Net fimds at l August 2023 5,680 5,483 Net funds at 31 August 2024 7,565 5,680 Page 30

Docuslgn Envelope ID.. 69928D1 D-236B4B5A-AF9E-7BB2FTA39BB8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 3 l August 2024 The f￿ancial statements have been prepared under the Companies Act 2006 and IT) accordance with the Charities Stat¢ment of Recommended Practi¢¢ (SORP) and Financial Reporting Standard 102 (FRS 102). The principal accounting policies adopted, judgevnents and key sowces of estimation uncertainty in the preparation of thc financial stalcments are Set out below. BASIS OF PREPAIL4TION The Foundation presents its fulancial statements for the year ended 31 August 2024. The comparative period wa5 13 months from l August 2022 to 31 August 2023 due to a change in the year-end. Thc accounts have been prepared in accordance with the historical cost convention with the exception of investments which are included at market value. On 17 November 2004 the Charity Commission granted a uniting order for Wakefield Grammar School Foundation (WGSF) and Wakefield Grammar School Foundation Endowed Lands Trust (WGSFELT) (Charity No. 529908). The uniling order allows the two Charities to be administered as one. Accordingly the arcowits for the Foundation are for the combined results of WGSF and WGSFEL T, Wakefield Grammar School Foundation meets the definition of a public bencfit entity under FRS 102. The financial statements are prepared in sterling. which is the fijnctional currency of thc company. Monelary amounts in these financial statements are rounded (o the nearest £. GOING CONCERN The account5 have been prepared on a going concern basis following consideration by the GovernoT5. The ¢ducational opportunities availabl¢ at the Foundation continue to be attractive and the Foundation although pupil numbers have reduced over thc last few years in line with demographics, they remain strong even in the current economic climate. The Foundation manages operational cash flow to make ihe best usc of available resources. Forecasts have been prepared and reviewed for the period of at least 12 months from the date of signing, alongside the cuffent level of reserves, current liabilities and cash. Govemors consider there to be no material uncertainty which casts doubt on the Group's ability to continuc as a going concem. BASIS OF CONSOLIDATION The consolidated fmanctal statements comprise the accounts of Wakefield Grammar School Foundation and its subsidiary made up to 31 August 2024. The results of the subsidiary are consolidated on a line by line basis. No separate SOFA has been presented for the Charity alone, as perniitted by Section 408 of the Companies Act 2006. The net incoming resources of the Charity are disclosed in note 21. FLffriD ACCOUNTtNG General funds, which are generated from the main school activities, are unrestricted funds which are available for use at the discretion of ihe Governors in fifftherance of the general objectives of the Foundation and which have not been designated for other PUTposes. Designated funds comprise unrestricted funds that have been set aside by the Governors for particular purpose5. The aim and use of each designated fund is set out in the notes to the fmancial statements. Page 3J

Docusign Envelope ID= 69928D1 D-236￿BsA-AF9E-7BB2E7A3g8B8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 Restricted funds are funds which are to b¢ used in accordance with specific restrictions imposed by donors or which have been raised by the Foundation for a particular purpos¢. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the fjnancial Statements. Endowment funds are funds where the principal is to be held in perpetuity. Investment income earned on the resources of the endowrnent fvnd are applied for the purwses of the restricted fund. ACTIVTTIES The Governors consider there to be one charitable activity, this being the provision of education to children aged3tol8. FEES AND STMILAR INCOME Fees receivable and similar income are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and bursaries allowed by the school. DONATIONS, LEGACIES, GRANTS AND OTHER VOLUNTARY INCOMING RESOURCES Voluntary incoming resources are accounted for as and when entitlement arises, the amount can be reliably quantified and the cconornic benefit to the Foundation is considered probable. Voluntary income tor the Foundation's generdl purposes is accounted for as unrestricted and is credited to either Designated or General Reserves. Where the donor or an appea5 has imposed restrictions, voluntary income is credited to the relevant restricted fund and incoming endowments are <iccounled for as pernianent trust capital or expendable trust capital, according to whether the donor intends retention to be pernianent or not. Gifts in kind are valued at estimated open market value at the date of gift, in the case of assets for retention or consumption, or at the value to the Foundation in the case of donated servic¢5 or facilities. TANGIBLE FIXED ASSETS Fixed assets are stated at historic cost. Items are capitalised as Freehold Property additions when the expenditure incurred is considered to enhance and improve the overall fabric and condition of the Foundation schools. Depreciation is calculated to write off the cost of fixed assets, le55 estimated residual value based on Gurrent market prices, on a straight line basis over their estimated useful lives, using the following rates... Freehold property Fixtures, fittings and equipment Machinery, computer and other equipment Motor vehicles Between 2 and 10 12.5 12.5120125 25 Freehold land is not depreciated. Assets under constrnction are not depreciated until they are brought into use. Individual items costing less than £ 1,000 are charged to the income and expenditure account in the period in which the item 15 acquired. Fixed assets are reviewed for impairnient where there is an indication of impainnent. Page 32

DooJsign Envelope ID.. 69928D1 D_236B.4B5A_AF9E.7BB2E7A39B88 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 EXPENDITURE ExpendiNre is accrued as soon as the liability is Considered probable. discounted to present value for longer tern] liabilities. The following infom]ation is also relevant: Govemance costs - include those costs incurred in the governance of the Charity and its assets and are primarily associated with constitutional and statutory requirements. Charitable Activities - include expenditure a550ciated with the operation of the Foundation's schools. Costs of Generating Funds - include the costs of the trading subsidiary, W.l.S. (Education) Limited. The irrecoverable element of VA T is included with the item of expense to which it relates. INVESTN￿NTs All investments other than in the subsidiary are stated at market value. Unrealised gains and losses on revaluation and realised gains and losses on disposal are credited to the tund to which the investments relate. The investment 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 basi5. PENSION COSTS Retirement benefits to employee5 of the Foundation are provided through two pension scherne5. The pension costs charged in the Statement of Financial Activities are determined ￿ follows.. a) The Teachers, Pension Scheme - The majority of the teaching staff are members of the Teachers, Pension Scheme which 15 a mulii-employer defin¢d benefit scheme. It is not possible to identify the Foundation'5 share of the underlying assets and liabilities of the Teachers, Pension Scheme on a consistent and reasonable basis and therefore, as required by FRS 102, the scheme is accounted for as if it were a defjned contribution scheme. The Foundation's contributions, which are in accordance with the Govemment Acrnary, are charged in the period in which they relate. b) The Pension5 Trust- support staff are members of the Pensions Trust Growth Plan. Series 12 and 3 are multi-employer defined benefit pension schemes, whereas series 4 is a defined contribution scheme. Series 1, 2 and 3 are c105ed to further contribution5 from new or existing members and all contributions are made into Series 4. It is not possible to identify the share of underlying assets and liabilities belonging to individual participating employer in the Pensions TNst Growth Plan therefore all of the pension scheme is accounted for as a defined contribution scherne. Contributions are charged in the period in which they relate. OPERATfNG LEASES Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with thE IEssor are charged against profits on a straight line basis over the period of the le&%e. FINANCIAL tNSTRUMENTS Thc company ha5 el¢cted to apply the provisions of Section I I 'Basic Financial Instruments, and SectiOT] 12 'Othei Financial Instruments Issues. of FRS 102 to all of its financial in5tNments. Page 33

Docusign Envelope ID.. 69928D1 D_236B4B5A.AF9E_7B82E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contracNal provisions of the instrnment. Financial assets and liabilities are offsel with the net amounts presented in the fmancial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to seltle on a net basis or to realise the asset and settle the liability simultaneously. Busicfinancial instn4ments Basic f]nancial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised. Basicfinancial liabililies Basic financial liabilities, including rrade and other creditors, including composition fees are recognised at transaction price unless the a￿angernent constitutes a financing transaction, where the dcbt instrument is measured at the present value of the fijture receipts discounted at a market rate of interest. Financial liabilitie5 classified as payable within one year are not amortised. FEES RECETV ABLE Tolal 2024 12 months £000 26,636 (3,241) Total 2023 13 months £000 26,419 (3,160) Unrestricted Restricted £000 26,636 (3,207) £000 Gr055 fees Less: scholarships, bursaries and allowances (34) 23.429 (34) 23J95 23,259 2 COMMERCIAL OPERA TIONS Unrestricted £000 Restricted £000 Total 2024 Totsl 2023 £000 £000 Sale of confectionery and sports equipment Letting5 After School Club5 and Holiday Clubs Rental income Other 61 61 38 147 ioi 120 21 147 ioi 120 21 109 90 91 32 450 450 360 OTHER ACTtVITIES Unrestricted £000 Restricted £000 Total 2024 £000 Total 2023 £000 Other 300 300 171 300 300 171 All income from cornrnercial and other activities was unrestricted in both 2023-24 and 2022-23. Page 34

Do(xJslgn Envelope ID.. 69928D1 D_236B4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 DONA TIONS Unrestricted Endowed £000 £000 Restricted £000 Total 2024 £000 Total 2023 £000 Covenants, donation and legacies 34 67 106 311 34 67 106 311 Endowed funds relate to the final payment of a legacy of £5k bequeathed to the Foundation by AA Denton (2023.. £192k). W.I.S. (EDUCA TION) LIMITED The School has a 100 % interest in its trading subsidiary which is registered in England W.l.S. (Education) Lirnited promotes commercial activities which use the schools. assets to generate income from lettings, tuck shops and other activities. The subsidiary had a tslrnover for the year of £217,083 (13 months 2023.. £161,410) and expenditure of £41.139 (2023.. £34.375). The whole of its taxable profits of £175,944 (2023-. £127,035) were gifted to Wakefield Grammar School Foundation under a Deed of Covenant agreement. At 31 August 2024 the subsidiary had assets of £251,902 (2023.. £196,346), liabilities of £226,801 (2023.. £171,246) and net assets of £25,100 (2023= £25,100). EXPENDTTURE 2024 £000 2023 £000 Included in resources expended arc: Governor5, liability insurance Operating lease payments- planL machinery, vehicles and land Auditors, remuneration: Audit of the parent company and Consolidated accounts Audit of th¢ subsidiary con]pany Taxation Services 282 228 21 20 The average number of employee5 employed by the Foundation dwing the period was as follows.. 2024 2023 Number Number Teaching staff Non-teaching staff 198 170 205 177 368 382 Page 35

Docusign Envelope ID.. 69928DI D_236B4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 The number of employees whose emoluments during the year exceeded £60,000 were: 2024 Number 2023 Number £60,000- £70,000 £70,000- £80,000 £80,000 - £90.000 £90,000 - £100,000 £ioo,000 - £ I i 0.000 £110,000- £120.000 £120.000- £130.000 £130,000 - £140,000 £140,000 - £150,000 31 44 19 Contributions of £694k (2023.. £335k) were made to the Teacher5, Pension Scheme, which is a defined benefit scheme, for all but one of the above higher paid employees. For three higher paid employees, contributions of £33k (2023- three employee with contributions of £24k) were made to Series 4 of the Pensions Trust, which is a defined contribution scheme. STAFF COSTS 2024 £000 2023 £000 Wages and salarie5 Social security Pension costs 13,062 lJ94 2,680 13,405 1,417 2,540 17,136 17,362 None of the Governors received any remuneration or other benefits from the Foundation or from any connected bo(ty (2023: Nil). Aggregate employee-benefits of key management personnel 594 584 Page 36

Doojsign Envelope10.' 69928D1 D.23684B5A_AF9E_7BB2E7A398B8 Wakefield Grammar School Foundation NOTES TO THE FTNANCIAL STATEMENTS For the year ended 31 August 2024 ANALYSIS OF EXPENDITURE ON CHARTTABLE ACTNTTIES Charitable Activities Staff costs Other costs Total 2024 £000 Total 2023 £000 Depreciation £000 £000 £000 Teaching costs Welfare and catering Premises Admillistrdtion Other expenditure 13,910 200 978 1,716 347 325 2,234 1,374 1,952 1,037 236 16,469 1,574 3,700 2,995 583 16,420 1,633 3,542 3,149 461 770 242 17,151 1,337 6,833 25J21 25,205 Governance costs 37 37 31 Total Expendlture by Charity 17,151 1,337 6,870 25,358 25,236 Trading costs of the subsidiary 37 37 Total Expenditure by Group 17,151 ,337 6,907 25,395 25,267 Governance costs include the costs of extemal audit> governors, liability insurance and governors, expenses. All expenditure included by the Charity is considered to be direct expenditure &$ a result of undertaking the charitable activity. Page 37

Docusign Envelop8 ID.. 69928D1 D_236w4B5￿AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMEwrs For the year ended 31 August 2024 TANGIBLE FIXED ASSETS Fixtures, Fittings and equipment £000 Machinery, computer andother equipment £000 Freehold land and buildings £000 Motor vehicles £000 Tolal £000 GROUP AND FOUNDA TION Cost At l August 2023 Additions in year Disposals in year 32,010 836 (19) 5,884 217 (44) 5,098 108 (18) 12 43.004 1,161 (81) At 31 August 2024 32,827 6,057 5,188 12 44,084 Depreciation At l August 2023 Charge tor year Disposals 14,900 770 (13) 4,954 242 (44) 4,037 325 (15) 12 23,903 1,337 (72) At 31 August 2024 15,657 5,152 4,347 12 25,168 Net book value At 31 July 2023 17,110 930 1,061 19.101 At 31 August 2024 17,170 905 841 18.916 All tangible f￿¢d assets are owned by the Foundation. Included within the cost of Freehold land and buildings are assets under construction with a value of £2,731k (2023: £2,586k). These assets relate to the Clayton Hospital slte and are not currently depreciated. Page 38

Docusign Envelope ID.. 69928D1 D_23684BSA.AF9E.7BB2E7A39B88 Wakefield Grammar School Foundation NOTES TO THE FTNANCIAL STATEMENTS For the year ended 31 August 2024 7 fNVESTMENTS Foundation Unrestricted £000 Foundation Restricted £000 Foundation Endowed £000 Total £000 MARKET VALUE At l August 2023 Additions Disposals Transfers Increase in market value 6,614 197 (63) 453 695 668 751 033 206 (63) (453) 43 89 827 At 31 August 2024 7,896 267 840 9,003 ANALYSTS OF tNVESTMENTS Cash Government stock Charity deposits Listed investments 441 2,225 209 5,021 441 2,225 396 5,941 187 80 840 7,896 267 840 9,003 FOUNDA TION Unlisted investments in Subsidiaries 100 loo The following individual investment constithtes 5% or more of the market value of the overall investment portfolio: £000 cotF income units 396 Included within Unrestricted Investments is £4,122k (2023.. £3,050k) representing part of the Bursary Reserves as shown in note 13. The charity deposits totalling £396k (2023-. £375k) consist of 19,518.73 units (2023: 19,518.73 units) held in COIF Charities Tnvestment Fund. There are no known material restrictions which might apply on the realisation of this holding. Unlisted investments in subsidiaries: Capilal and Resultsfor resErves theyear Class of shares Company Notsre ofbusine.gs /0 held w.I.s. Sale of confectionery. educational Ordinary (Education) 8nd sports equipment and supply Lirnited of sundry school activities 100 25,100 Page 39

Docuslgn Envelope ID.. 69928D1 D.236B.485A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 DEBTORS Group Foundation 2024 2023 £000 £000 2024 £000 2023 £000 Fee debtors Prepayments and accnjed income Other debtor5 Amounts due from the subsidiary undertaking 157 560 258 121 282 291 120 560 258 217 121 279 265 975 694 1,155 829 Included in the amount due from the subsidiary is a sum of £176k (2023: £127k) which relates to the subsidiary's surplus for the period and is due to be paid to the Foundation, under Gift Aid provisions, in the next financial year. CREDITORS.. Amounts falling due within one year Group 2024 £000 Foundation 2024 2023 £000 £000 2023 £000 Trade creditors Fees received in advance of terni Fees in Advance Schemc (sec note l O) Other creditors Taxation & social security Accrua15 Pension Funding Deficit 545 4,579 1,321 1,037 340 498 935 3,491 554 1,072 337 393 545 4,579 1,321 1,037 335 493 934 3,491 554 ,072 335 383 8,322 6,787 8J12 6,774 io CREDTTORS: Amounts falling due after more than one year Group 2024 £000 Foundation 2024 2023 £000 £000 2023 £000 Fees in Advance Scheme Pension Funding Deficit 2,298 899 2,298 899 2,298 901 2,298 901 Page 40

Dowslgn Envdope ID.. 69928D1 D_236B4B5A_AF9E_7BB2E7A39B88 Wakefield Grammar School Foundation NOTES TO THE FFNANCIAL STATEMENTS For the year ended 31 August 2024 Fees in Advance Scheme Parents may enter into a contract to pay to the Foundation up to the equivalent of five years tuition fees in advance. The money may be returned subject to specific conditions on the receipt of one terni's notice. On the assumption that pupils will remain in school the advance fees will be applied as follows: 2024 2023 £000 £000 Within I to 2 years Within 2 to 5 years After more than 5 years 1,205 979 114 318 471 110 Due after more than l year 2,298 899 Due within l year IP21 554 3,619 ,453 2024 £000 2023 £000 Advance fees brought forward Amounts utilised to pay fees New contracts Unwinding of finance c05t Repayments Net loss l (gain) 1,453 (649) 2,599 52 2.117 (836) 282 24 (32) (102) 164 3,619 1,453 I I RESTRICTED FUNDS AND EIYDOWED FUNDS The income ￿ndS of the Foundation include endowed funds comprising the following unexpired balances to be applied for specific purposes. Balance at 31 Aug23 £000 Investment Gain £000 Incoming Outgoing Balance at 31 Aug 24 £000 £000 £000 AA Denton Bursary 1.156 89 22 1,267 The AA DentQT] Bursary was endowed to the Foundation for the funding of bursary provision at Queen Elizabeth Grammar School. Page 41

Oocusign Envelop8 ID.. 69928D1 D.236B4B5A_AF9E_7BB2E7A39888 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 The income funds of the Foundation include re5trict¢d funds to be applied for specific purposes comprising.. Balance at Investment 31 Jul 23 Gain / {Ios5) £000 £000 52 Incoming Outgoing Balance at 31 Aug 24 £000 55 £000 £000 Herbert Wice Exhibition Neil Spawforth Memorial Miss Mccroben Scholarship WGHS Scholarship Isobel Fowler Scholarship Margaret Bentham Chapman Sports Hall Wilson Bursary Ford Art Scholarship D¢velopment Bursary Fund Bursary Reserves Miss Knott Legacy Shinc Clayton Campaign Mavis Moore Legacy Fund Marjorie Ann Holmes Music Fund Gail Knight Bursary 49 163 20 51 176 21 40 40 41 40 276 198 li 399 67 343 224 io 399 20 (i) 107 (33) 1,374 43 79 (34) ,462 Comparative Figures for Year Ending 31 August 2023: Balance at Investment Incorning Outgoing Balance at 31 Jul 22 Gain / (loss) 31 Aug 23 £000 £000 £000 53 (i) 52 £000 £000 Herbert Wice Exhibition Neil Spawforth Memorial Miss Mccroben Scholarship WGHS Scholarship Isobel Fowler Scholarship Margaret Bentham Chapman Sports Hall Wilson Bursary Ford Art Scholarship Development Bursary Fund Bursary Reserves Miss Knott Legacy QEGS Roche Music Fund SILine Clayton Campaign Mavi5 Moore Legacy Fund Marjorie Ann Holrnes Music Fund Gail Knight Bursary 49 163 20 49 163 20 {3) 40 39 40 40 (3) 220 197 35 12 352 56 276 198 (6) (i) (35) (3) li 399 47 (i) (i) (15) 122 (3) 107 1,320 (13) 126 (59) 1?74 Poge 42

Docusign Envelope ID.. 69928DID.236B_4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 Restricted Funds are held for the following purposes.. Herbert Wice Exhibition - to provide scholarships to pupils attending the Foundation schools or the University of Cambridge. Miss Mccroben Scholarship- to provide scholarships for pupils of WGHS entering an approved university. WGHS Scholarship- to fund 6th fomi scholarships at WGHS. Isobel Fowler Scholarship- to provide a 6th forni scholarships at WGHS Senior. Wilson Bursary - to provide scholarships based on academic merit and financial need to pupils from the Metropolitan Borough of Kirklees entering secondary education at WGHS or QEGS. Ford Art Scholarship - to provide benefits such as the provision of art materials, exhibition visits, or an internship, for pupils at WGHS Senior School aged 13 to 18, who have above average artistic ability. Bursary Reserves and the Development Bursary Fund - ￿rtds donated specifically to provide total or partial exemption from the payment of tuition and other fees for children who need financial assistance to enable them to attend the Foundation's Schools. Miss Knott Legacy - bequeatlied from the will of Miss M A Knott, Headmistress of WGHS Senior from 1949 to 1973, for the use and benefit of Wakefield Girls, High School. Development Fund- to provide for sundry development and educational projects as specified by the donor. QEGS Roche Music Fund- to provide benefits for the musical education of pupils at QEGS. Shine - to provide for the Foundation's Shine 'Serious fun on Saturdays" progran)me after a successful bid for ￿nding. Shine is a leading educational charity whose focus is social mobility through education. Clayton Campaign - for funds raised, from donations and other sources, to develop the site of thc fornier Clayton Hospital. Mavis Moore Legacy Fwid- to provide benefits to the pupils at QEGS and WGHS. Marjorie Ann Holrnes Music Fund- to provide music and composition equipment at WGHS. Gail Knight Bursary- to provide a bursary for the benefit of pupils at QEGS The other fvnd5 consist of trnst and prize fvnd8 set up by individual donors. The restricted funds comprise restricted and some older endowed funds. Due to the age of some fiJnd5, it Is difficult to identify endowed nds separately. Page 43

Docusign Envelope ID.. 69928D1 D_236B4B5A.AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FtNANCIAL STATEMENrs For the year ended 31 August 2024 12 DESIGNA TED FUNDS The income funds of th¢ Foundation include the following designated fijnds which have been set aside out of unrestricted funds by the Governors for specific purposes: Balance Movement in reserve5 at 31 Aug Tnvestment Incoming 2023 Gaills £000 £000 71 137 Balance at31Aug 2024 £000 71 137 Outgoing £000 £000 Cyclical repair reserves Extraordinary repair reserve Strategic reserves Sundry school reserves Hepworth Fund - Bursaries Hepworth Fund - Estates Bursary Funds 386 386 101 1,408 513 1,295 421 3,938 (418) (65) (421) (799) 121 57 210 848 4,197 6,375 331 1,297 (1,703) 6,300 Comparative Figures for Year Ending 31 August 2023: Balance at31 Jul 2022 £000 76 137 Movement in reserves Tnvestment Incoming losses £000 Balance at31 Aug 2023 £000 71 137 Outgoing £000 £000 (5) Cyclical repair reserves Extraordinary repair reserve Sundry school reserves HepwDrth Fund - Bursaries Hepworth Fund - Estates Bursary Funds 562 ,348 421 3,913 38 46 (87) (60) 513 ,295 421 3,938 (39) (814) 843 (4) 6,457 (853) 927 (156) 6.375 Designated Funds are held for the following purposes.. Bursary Fund- to provide total or partial exemption from the payment of tuition and other fees for children who need financial assistance to enable them to attend the Foundation's Schools. Incorning resources into the Bursary Reserves included the transfer of fee income of £799k (2023: £814k). Funds of the same value were utilised to support bursary awards in the year. The transfer of fee incorne to the bursary fvnd reflects a provision in the Articles of ASSOCAation of the Company requiring an annual transfer of fee income to the bursary fund. Cyrlical repair reserves - to contribute to the cost of recurring repairs. The Governors continue with works to upgrade and improv¢ the existing fabric of the school buildings and part of this is funded by this reserve. Extraordinary repair reserve - held to fimd the cost of unforeseeabl¢ major repair5. as and when require Page 44

Docusign Envelope ID.. 69928D1 D-236B-4B5A-AF9E-7BB2E7A398B8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 Sundry school re5crves - funds designated to school activities,'clubs and Societies. In part these funds arise from amounts set aside each year to cover cyclical costs, such as those of inspection or prospectuses, which re occur over a timescale of up to 5 years. The funds also arise from fundraising and donations. such as aTnounts gift aided from the subsidiary company, the proceeds of which hav¢ been designated to be used for specific purposes, or 85 and when required. Strategic reserves during the year, sundry school reserves were reviewed and £J86k of funds were repurposed to a Strategic reserve which will help fund strategic priorities, including the transforniation of the schools for September-26. Hepworth Fund proceeds from the sale of two sculpmres by celebTated fornier Wakefield Girls, High School pupil Dame Barbara Hepwonh. Held for the benefit of present and future WGHS pupils with a quarter of the fund (less an amount already expended) intended to improve estates and three quarters intended to support the airn of widening participation at Ihe school where Dame Barbara was educated. The estates fund was utilised in the year to purchase the Christian Science Church building which provides excellent facilities to the Girls school site. 13 ANALYSIS OF NET ASSETS BETWEEN FLfNDS Designated funds Unrestricted funds Restricted fijnds Endowed fund5 Total tunds £000 £000 £000 £000 £000 Fund balances at 31 August 2024 are represented by: Tangible fixed assets Investments Current assets Creditors 18,916 7,896 618 (10,620) 18,916 9,003 8,540 (10,620) 267 1,195 840 427 6,300 6,300 16,810 1,462 1,267 25,839 Comparative figures at 31 August 2023: £000 £000 £000 £000 £000 Tangible fixed assets Investments Current assets Creditors 37 3,050 3.288 19,064 3,564 1,975 (7,688) 19,101 8,033 6,374 (7,688) 668 706 751 405 6,375 16,915 1,374 1.156 25,820 There are no free reserves at 31 August 2024 (2023-. £Nil). Free reserves are calculated as other unrestricted funds of £16,810k less the £18,916k canying value of tangible f￿ed assets held within unrestricted funds. Designated Funds are not considered to be'free reserves" a5 the Foundation h25 made a past COTllTnitment to Use these fund5 for specific purp05e5. However, a revicw of future purposes tnay result in the undesignation of reserves if thc specific purpose is no longer relevant. Free reserves including designated fund5 are £4,194k (2023: £4,190k). Page 45

Doujsign Envelope ID= 69928D1 D_236B.4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO TFLE FINANCIAL STATEMENTS For the year ended 31 August 2024 14 CAPITAL COMMITMENTS 2024 £000 2023 £000 Future capital expenditure.. Contracted for but not provided in the financial statements Committed expenditure but not contracted for 400 852 248 Future rAPital expenditure relates to the continued development of the Clayton site, which remains a long-terni Strategic priority for the Foundation. 15 OTHER FTNANCIAL COMMITMENTS At 31 August 2023 the Foundation was committed to making the following total payments under non- cancellable operating leases: 2024 2023 £000 £000 Operating leascs payable within l year.. Educational Administration 284 260 284 260 Operating lease5 payable within 2-5 years Educational Administration 242 318 242 319 16 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATTNG ACTIVITIES 2024 £000 {809) 2023 £000 (932) Net (outgoing) resources Elimination of non-operating cashflows.. Add back depreciation charge Add back loss on disposal of tangible fixed a￿etS Interest receivable Deferred in¢orne and advance fee payment received, less release Investment incorne (Increase) in debtors Increase in creditors 1?37 io (ioi) 216 {221) (281) 2,709 1,249 (65) (210) (168) (160) 1,758 Net cash provided by operating activities 2,842 1,472 Page 46

Docusign Envelope ID.. 69928D1 D-236B4B5A-AF9E-7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FNANCIAL STATEMENTS For the year ended 31 August 2024 17 ANALYSIS OF NET CASH l Aug 2023 MoveTnent £000 £000 31 Aug 2024 £000 Cash at bank and in hand 5,680 1,885 7,565 Net cash 5,680 1.885 7,565 18 PENSION SCHEMES Teachersy Pen51on Scheme Thc SGhool participates in the Teachers, Pension Scheme ('*he TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £3,549k (2023.. £2,249k) and at the year- end £306k (2023.. £250k) was accrued in respect of contributions to this scheme. The TPS 15 an unfijnded multi-employer defined benefits pension scheme governed by The Teachers, Pensions Regulations 2010 (as amended) and The Teachers, Pension Scheme Regulations 2014 (a5 amended). Members contribute on a "pay as you go" basis with contributions from member5 and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public fijnds provided by Parliament. The ernployer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most recent actuarial valualion of the TPS was prepared as at 31 March 2020 and the Valuation Report and the Valuation Report was published in October 2023. Following the Mccloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period l April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefits, and in preparing the 2020 valuation have valued the 'greater value, benefits for groups of relevant members. The valuation confmed that the employer contribution rate for TPS would increase from 23.6 % to 28.6 % frorn l April 2024. Employers are also required to pay a scheme administration levy of 0.08 % giving a total employer contribution rate of 28.68 %. The Pensions Trust Tlry Retircment Solutions- Thc Growth Plan Wakefield Grammar Scliool Foundation participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating eniployers. The scheiiie is a defiiied benefit scheme in the UK. It is not possible for the company to obtain sufficient infoiination to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme. The scheme is subject to the fllnding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial StaT]dards issued by the Financial Reporting Council, set out the fratnework for funding defmed benefit occupational pension schemes in the UK. Page 47

Docuslgn Envelope ID.. 69928D1 D-236B-4B5A-AF9E-7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 The scheine is classifLed as a'last-lnan staiiding atTangement'. Therefore. the company is potentially liable for other participating employers, obl joations if those employers are unable to ineet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on ai) annuity purchase basis 011 withdrawal froLn the scheme. A full actuarial valuation for the scheme was can-ied out on JO Septembei. 2020. This valuation showed assets of £800.3m. liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, th¢ Trustee has asked the participating employers to pay additional contributions to the scheine. Deflclt contributions From l April 2022 to i l January 2025: £3,i12,000 per annum (payable monthly) Unless a concession has been agreed with the Trustee the tenn to 31 j￿]uary 2025 applies. Note that the scheme's previoiis valuation was catried oiit with an effective date of 30 September 2017. Tliis valuation 51iowed assets of £794.9m, liabilities of £926.4ni aiid a deficit of £131.5m. To eliininate tliis funding sliortfall, the Trustee asked the paiticipating ernployers to pay additioiial contributions to the scheine as follows-. Deficit contributlons From l April 2019 to 30 September 2025.. £11,243,000 per annum (payable monthly and increasing by Q/0 each on 1st April) Tile recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series l and Sei'ies 2 scheme liabilitie5. Where the schemc is in deficit and where the company lias agreed to a deficit fundiiig arrangenient the coiiipany recognises a liability for iliis obligation. The ainount recognised is tlie net present value of the deficit reductioii contributions payable under the agreement that relates to the deficil. The present value is calciilated Llsing the discount rate detailed in tliese disclosui-es. The unwinding of the discount rate is recogni5ed as & fjnance cost. PRESENT VALUES OF PROVISION 3 l August 2024 31 August 2023 £000 £000 Present value of provision PL7ge 48

Docusign Envelope ID: 69928D1 D-236B4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 RECONCILIATION OF OPENING AND CLOSING PROVISIONS 31 August 2024 31 August 2023 £000 £000 Provision at start of period Deficit contribution paid Remeasurernents - amendments to the contribution schedule 12 (5) (5) Provision at end of period INCOME AND EXPENDITURE IMPACT Period Ended Year Ended 31 August 2024 31 August 2023 £000 £000 Remeasurements - amendments to the contribution schedul¢ Costs recognised in income and expenditure account 420 ASSUMPTIONS 31 August 2024 31 August 2023 31 July 2021 /0 per annum /0 per annum /0 per annum Rate of discount 5.13 The discount rates shown above are the equivalent single discount rates which, when used to discoLint the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. 3.15 The following schedule details the deficit contributions agreed between the company and the scheme at each year end period.. Page 49

Doujsign Envelope ID.. 69928D1 D_236B4B5A_AFgE_7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FfNANCIAL STATEMENrs For the year ended 31 August 2024 DEFICIT CONTRIBUTIONS SCHEDULE Period ending 31 August 2024 £000 i l July 2023 £000 Year I Year 2 The company miist i'ecognise a liability measiired as the pi'esent value of the contributions payable that arise from the deficit rccovery agreement and the resiilting expense in the incoine and expenditLire account i.e. the unwinding of the discount rate as a fiiiance cost in the pertod in which it arises. It is these conti-ibutions that have been used to deriv¢ the company'5 balance Sheet liability. Friends Provident The SLhool also contributes to Friends Provident pension scheme which is a defined contribution scheme. The pension charge for the period includes contributlOll5 payable to the Scheme of £5k (2023: £4k). 19 RELATED PARTY TRANSACTIONS A number of Govemors have children who attend the Foundation schools. Govemors pay nornial school fees on commercial ternis. The Foundation has a lo￿/0 interest in its trading subsidiary W.l.S. (education) Limited. During the period ended 31 August 2023, admiiiistration and estates services have been provided by Wakefield Grammar School Foundation on an am's length basis, with a management charge of £ I I k payable by W.l.S. (Education) Lirnited (2023: £5k). At the year-end there were amounts outstanding to Wakefield Grammar School Foundation of £217k (2023.. £164k) which includes the gift aid due in relation to the year ended 31 August 2024. 20 OTHER CHARITIES WAKEFIELD CHARITIES, HOMES The Governors and the Bursar of ihe Foundation provide trustee and manageTnent service5 to Wakefield Charities, Homes, an almshouse charity and Registered Social Landlord which provides low cost accommodation for elderly people in need who have connections with the City of Wakefield. During the year under review rnanagement charges of £23k (2023= £21 k) were payable by Wakefield Charities, Homes to the Foundation for administration services provided on an arn]'s length basis. The ￿llds below, which are also athninistered by the Governors of Wakefield Grammar School Foundation, are included separately, on pages 50 and 51, as funds provided for specific pU￿oses, and do not forni 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 establishment of a Scholarship for the study of physics and chemistry at the Universitie5 of Manchester and Leeds. WILSON AND BROMLEY'S CHARITY Bequeathed separately by the Will of Richard Wilson dated 7 DeceTnber 1672 and John Bromley dated 3 January 1722 and amalgamated to provide an annual income to the Vicar and Curate of Wakefield. Page 50

tjocuslgn Envelope10.' 69928D1 D_236B4B5A_AF9E_7B82E7A398B8 Wakefield Grammar School Foundation NOTES TO THE FfNANCIAL STATEMENTS For the year ended 31 August 2024 21 WAKEFIELD GRAMMAR SCHOOL FOUNDATION OWN RESULTS The Foundation's own results for the 13 month period included in the consolidated Statement of Financial Activities were-. 2024 2023 13 months 12 months £000 £000 INCOME AND ENDOWMENTS FROM.. Charilable activities Fees receivable Less bursaries, scholarships and fee assistance 26,636 (3.241) 26,419 (3,160) 23,395 23,259 Other Irading activities Commercial operations Income from Subsidiary Other activities Imieslments Investment incoTne Bank and other interest Volunlary Sources Donations, legacies and Grants 233 J76 300 199 127 238 Joi 168 65 106 3Jl TOTAL ENCOMfNG RESOURCES 24,549 24JOO EXPENDITURE ON: Charilable aclivilies School Operating Costs Loss on sale of fixed assets 25,358 25,226 TOTAL EXPENDTTURE 25,363 25,226 NET OUTGOING FUNDS FROM OPERATIONS BEFORE fNVESTMENT GAINS AND LOSSES (814) (926) Gains on investments 828 (125) NET (EXPENDITURE) I INCOME 14 (1,051) Pension Scheme aC￿arIal gains Net movement in fiu)ds for the year 14 (1,051) Fund balances brought foNard at l August 2023 FUND BALANCES CARRIED FORWARD AT 31 AUGUST 2024 25,800 26,851 25,814 25,800 Page 5J

Docuslgn Envelope ID.. 69928D1 D_236B_4B5A_AF9E_7BB2E7A39BB8 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year endcd 31 August 2024 22 CONSOLIDATED STATEMENT OF FTNANCIAL ACTtVITIES- Comparative figures by fund type 13 month period ended 31 August 2024 Unrestricted funds £000 Endowment fi￿ds £000 Restricted nd5 Total funds 2023 £000 £000 tNCOME AND ENDOWMENTS FROM: Charitable actnjilies Fees receivable Less bursaries, scholarships and fee assistance 26,419 (3,145) 26,419 (3,160) (15) 23,274 (15) 23,259 Other trading aclivities Commercial trading operations Other activities Inveslmenls Investment income Bank and other interest Volunlary,gource Donations. legacies and Grants 360 171 360 171 146 59 13 168 67 io 192 109 311 TOTAL INCOMING RESOURCES 24,020 205 24,336 EXPENDITURE ON: Charitable aclivitie.s School Operating C05t5 Raisingfvnds Commercial trading operations 25,192 25,236 31 TOTAL EXPENDITURE 25,223 44 25,267 NET (OUTGofNG) / TNCOMfNG FUNDS FROM OPERATIONS BEFORE INVESTMENT GAINS AND LOSSES (1,203) 205 67 (931) (Losscs)/gains on inveslments (113) (13) (125) NET (EXPENDITURE) / NCOME (1,316) 206 54 (1,056) Net movement in funds for the year (1,316) 206 54 (1,056) Fund balances brought forward at l August 2022 24,606 950 1.320 26,876 FUND BALANCES CAIIRIED FORWARD AT 31 AUGUST 2023 23,290 1,156 1,374 25.820 Page 52

Docuslgn Envelope ID.. 69928D1 D.236B485A_AF9E_7BB2E7A398B8 Wakefield Grammar School Foundation BROTHERTON SCIENCE SCHOLARSHIP INCOME AND EXPENDTTURE ACCOUNT For the year ended 31 July 2024 2024 2023 tNCOME Interest receivable Investment incorne 115 2.234 62 285 TOTAL INCOME 2?49 347 EXPENDITURE Scholarships awarded (500) ( 1,000) TOTAL EXPENDITURE (soo) (1,000) Investment gains/(losses) 4,996 (1,499) SURPLUS I (DEFICIT) FOR THE YEAR 6,845 (2,152) BALANCE SHEET AT 31 JULY 2024 TOTAL ASSETS Investments (at market value) Cash at bank Debtor 83,018 5,928 34,150 78,022 5,813 32.416 123,096 116.251 Represented by.. Accumulated ftlnd At l August 2023 Surplus l (deficit) for the year 116,251 0,845 118,403 (2.152) At 3 l July 2024 123.096 116,251 Page 53

Docusign Envelope ID.. 69928D1 D_236B.4B5A_AF9E.7BB2ETA39BB8 Wakefield Grammar School FoLmdation WILSON AND BROMLEY'S CHARITY Year ended 31 July 2024 INCOME AND EXPENDITURE ACCOUNT For the year ended 31 July 2024 2024 2023 rNCOME Interest receivable 12 TOTAL INCOME 12 EXPENDITURE RESULT FOR THE YEAR 12 BALANCE SHEET AT 31 JULY 2024 TOTAL ASSETS Cash at bank Creditor 592 (250) 580 (250) 342 330 Represented by: Accumulated hnd At l August 2023 Result for the year 330 12 323 At 31 July 2024 342 330 Page 54