DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Companv Registration No. 04258359 Registered Charity No. 1088415 Wakefield Grammar School Foundation and Associated Charities STATUTOR Y FINANCIAL STATEMENTS for the year ended 31 August 2025 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Conipany Registration No. 04258359 Wakefield Grammar School Foundation and Associated Charities FULL DETAILED FINANCIAL STATEMENTS for the year ended 31 Au&Just 2025 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Wakefield Grammar Sch()ol Foundati()n is a ¢haritable ¢()mpany limited by guarantee, registered in England and Wal¢s. Th¢ G()v¢rnors of th¢ Wakefield Grammar Scliool Foundation arc tl)¢ dir<¢tors of thc LOTnpany for Compani¢5 Act purposes aiid in charit), law. ThToughout this docuinenl the follo￿.ing abbreviations are used.. Queen EIiLabeth Grainniar Scliool- QEGS Wakefield Girls. High Schth)l- WGHS Wakefield Grammar Pre-Preparatory School - WGPPS GOVERNORS, DIRECTORS ATr4D CHARITY TRUSTEES The Governors of Wakefield Grammar School Foundation who served in office during the year and subsequently are detailed below. Governors Mr M Shevill 12 3 4 5 6 7 8 (Chair of Governors) Mrs A Ali (appointed 18 June 2025) Mrs J Anderson 2 (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) Mrs C Harrison 12 7 MrJJeffriesl 467 Dr S Khan 3 5 6 9 (resigned 14 February 2025) MrJL¢wis1378 Mr l A McKinlay 3 5 6 (Vice Chair) Mrs K Morgan 12 3 8 9 (Vice Chair) Mrs P Pluinpton 4 5 6 (SafegLiarding Governor) Nominated Governors The Chapter of Wakefield Cathedral may nominate a Govemor lo serve on the Board. Rever¢nd Canon Kathryn Goldsmith was appN)inted on 8th January 2025. Member of Finance Committee Member of WGHS Governor Education Committee Member of QEGS Governor Education Committee Member of WGPPS Governor Education Commirtee Member of Risk and Compliance Committee Member of the Strate&v Committee Member of Investment Committee Member of the Fundraising Committee Governor with children in Foundation Schools To ensure appropriate governance and oversight of the transition towards Queen Elizabeth's School (as detailed on page I l), the Board also met Tnonthly to provide oversight and direction of matters arising from the restructure of the schools. Page J DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 KEY MANAGEMENT PERSONNEL DiTCCtor of Financ¢ and Op¢rations MTS J Cockcr {also Company S¢cretary) Executive Head and Head of QEGS Dr R Brookes (appointed Executive Head of the Foundation l January 2025) Ms H-J Boyes (resigned 31 De¢einber 2024 to join Royal High School Bath) Mrs J Tingle {appointed l January 2025) Mrs E Gill WGHS Head WGHS Associate Head WGPPS Head ADDRESSES QEGS 154 Northgate Wakefield West Yorkshire WFI 3QX WGHS wents￿.0rth Street Wakefield West Yorksliire WFI 2QS WGPPS Margaret Street Wakefield Wcst Yorkshire WFI 2DG REGISTERED OFFICE AND PRINCIPAL PLACE OF BUSINESS.. Wakefield Grainmar School Foundatio Govemors, Office Green House 158 Northgate Wakefield West Yorkshire WFI 3UF BANKERS: Barcla}'s Bank plc Trinity Walk Shopping Centre Teall Way Wakefield WFI IQS Svenska Handelsbanken AB (publ} Unit 10 Navigation Court Wakefield WF2 7BJ Nation￿]de Building Society Business Savings CoTnmercial Division The Observatory Chapel Walks Manchester M2 IHL Page 2 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 AUDITORS: Saff¢ry LLP l O Wellington Place Leeds LSI 4AP INVESTMENT MANAGERS: Julius Bar International Ltd The Platform New Station Street Leeds LSI 4JB Rathbone Brothers PIC Port of LiverpJ)l Building Pier Head Liverpool L3 INW The Governors present their annual report for the year ended 31 August 2025 under the Charities Act 2011 and th¢ Conipanics Act 2006, tog¢th¢r with th¢ audited financial stat¢m¢nts for th¢ y¢ar. Th¢ G()vcrnors eonfim that the finaiicial siatements comply ￿7th the requiremeiits of the Act, and Reporting by Charities: Statenient of Recommended Practice 201 i applicable to charities preparing their accounts in accordance with the Financial Report Standard applicable in the UK and Republic of Ireland {FRS I O• DEFINITIONS In these finan¢ial stat¢Tn¢nts th¢ following expTcssions shall hav¢ th¢ m¢anings set out b¢low.' The Foundation Wakefield Grammar School Foundation, Company No. 4258359 Registered Chariry No. 1088415 and, under the tenns of a uniting order, Wakefield Graminar School Foundation Endowed Lands TrusL Incorporated by Royal Charter l i91 (as ainended), Registered Charity No. 1088415-1 W.l.S. (Education) Liniitcd, Cvnipany No. 2737083. The Fouiidation and its Subsidiary as noted above. Board of Governors of the Foundation. Subsidiary Group Board Page 3 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 HISTORY AND STATUTORY INFORMATION Wakefield Grainmar School Foundation. in the City. of Wakefield, West Yorkshire, was founded by Royal Chart¢r of Her Majcsty Qu¢cn Elizab¢th l in 1591. Up until July 2001 tlie Foundation was r¢gulated by a Scheme made under the Endowed School Acts 1891, as varied by sclienies between l 893 and 1997. Froin August 2001 the operations of the Foundation, ￿1th the exception of its pernianent endowment, were transferred with the approval of the Charity Commission and Ihe Privy Council to a company 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 funds of Wakefield Grammar School Endowed Lands Trusts wcr¢ transt¢rred to thc Foundation. The Articles of Association of the Compan). supplement the Royal Charter and replace all Ihe intervening Schemes ￿ the Governing Instrument of The Chariiy. STRUCTURE, GOVERNANCE AND MANAGEMENT Thc Govcrnors d¢t¢rniinc the Strategy and general policies of th¢ Fouiidation and its Schools and nic¢t as a Board a minimum of three tin)es a Ye￿r. The Governors digeharge their responsibilities through a committee struciure and where appropriate through specific working groups. The Articles of Association were amended on 18 June 20?5 to stste that the Board may consist of up to fifteen Governors. Of the fifteen full Governors, fourteen are co-opted and one is nominated by the Chapter of Wakcfi¢ld Cathedral. A iiiaximurn of fivc Governors may b¢ pareiits ol'curr¢nt sclii)ol pupils. The Board of Governors has responsibility for ensuring that the Board contains members with the skills and dedication necessary for Ihe operation of an educational charity, whilst representing fairly the interests of each school in the Foundation together with the interests of the local community. New Governors. other than nomiiiated Governors, are selected if wssible from a pool list maintained for this purpose and are approved b}. th¢ Board prior to appointTn¢nt. Governors are appointed initially for a period of four years and can serve for a maximum of three four-yearly terms. New Governors are inducted into the workings of the Foundation and its schools, including Board policies and proccdur¢s, during an inductloll 5¢ssion conv¢n¢d for that purposc. New Governors, where appropriatc, are provided with a Governor mentor for the first year of their appointinent. All Govemors are encouraged to attend appropriate training courses which typically include principles of good governance, safeguarding children, managing health and safety, fire safety and managing the charity finances. The Board in conjunction with the Director of Finance and Operations and the Executive Head sets the strategy for the Foundation. Tlie implenicntation of th¢ stratcgy together with the dav-to-day nianag¢in¢nt ot Foundation scliools is delegated to the Executive Head who, in turn, ig siipported by an Executive Group consisting of the Director of Finance and Operations, the Head of WGPPS and the Associate Head of WGHS. The Executive Group is supported by their Senior Leadership Teams. The Direcior of Finance and Operations attends all meeiings of the Governing Body's Committees in their capacity as Clerk to the Board of Governors. The remuneration of ke}, management personnel is set on scales determined by the Board, with the policy objective of providing an appropriate incentive to encourage enhanced perforinance and of reiN'arding them fairly and responsiblv 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 employment conditions elsewhere. Page 4 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Foundation aims to re¢ruit new key managem¢nt per4onn¢l at the low¢r to Inedium point within a band, pr()viding s¢op¢ for rewarding cx¢¢ll¢nt p¢rfornian¢¢ against obj¢ctives. D¢liv¢ry Of tlie Foundation's haritabl¢ vision and purp05¢ is pfiTnarily dcp¢iident on our staft, and staff costs arc th¢ largest singl¢ element of our charitable expenditure. Details of Governors: Officers and Advisors are set out on pages l and 2. The Foundation carries out periodic parental siirveys and welcoines feedback from parents. Siirveys and other opportunities for parental feedback, including Governor Breakfasts, uniform surveys and co-curricular surveys, have also helped to shape plans for the prop)sed restructure of the Foundation. Staff are able to contribute to decision making primarily through the ternily meetings of the Foundaiion's Joint Negotiating and Consultative Committee. The meeting is chaired by a Governor and aiiended by the Heads and teaching representatives from each school. Students also provide feedback to Governors and their school leaders through regular discussion opportunities and student councils. We also w'elcome feedback from our alumni community who engage with us through our Development Office and through ongoing links to school staff. The gencrosity of sUPPOrtive parental and alumni organisations is much appreciated and gratefully acknowledged. Foundation schools activcly support the attainment of the highcst standards in thc indcpendent schools scctor through membership of relevant rcpTesentative organisations bcing the Heads Conlcrcnce {HMC), the Girls Sch()ols A%so¢iation IGSA), the Independent Association of Preparator), Schools (IAPS) and the Ind¢p¢nd¢nt 8¢hools' Bursars Association (ISBA). The H¢ads and tli¢ DiTC¢tor of Finance and Operations also attend regional groups of ind¢p¢ndcnt schools to sharc best practic¢ and provide support wlicn required. The Charity has a wholly owned non-charitable trading subsidiary, W.l.S. IEducation) Limited, whose activities and trading performance are detailed in the notes lo th¢se accounts and ¢oiiwlidated. AIMS AND OBJECTWES Wakefield Grammar School Foundation is a Company limiied bj Guarantee. It is also a registered chariry. The object for which the compan), is established is to advance educaiion by the provision of a school or schools in or near Wakefield or elsewhere in Britain and bj. ancillarnw or incidental educaiional activities and other associated activities for the benefit of the community. At 31 August 2025, the Foundation comprises a boys school (Queen Elizabeth Grammar School), a girls school (Wakefield Girls, Hi￿) School) and a co-educational pre-preparaton, 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 bv a mission to provide education in a 5UPPOrtive, engaging and inclusive enviToiiinent that inspiTes individuals to develop their abilities, strengthen their character and fultil 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 teaching, outstsnding pastoral care and an extensive range of extra-curricular activities. They will embrace Page 5 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 as wide a cross section of the community as possible and support pupils irrespective of their social or economic background. During the year, the focus of the schools has been on the continued achievement of academic performance and promoting a cultur¢ that encourages th¢ w¢ll-being of our pupils. PUBLIC BENEFTT Wakefield Grammar School Foundation is a charitable con)panJ' whose primary objective is to provide an education to pupils ag¢d bctw¢¢n 3 and 18 y¢ars at scliools in Wakcfi¢ld. The schools aim for exc¢ll¢iice in academic achieiieinent in addition to allowing the piipilg to develop in an exLlting and stimulating environment. 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 activities for the year the Foundation has considered the Charity Comrnission's guidance on public bcncfit. Bursaries 'I'he Foundaiion provided financial assistance to 184 pupils in 2024125 (29 in 2093n4). This represents I l % of the 20241•5 average total school roll of1.61 • pupils (2023124 18 % of 1,611 pupils). The monetary value of the financial assistsnce w&5 £2,247k (£2,479k in 2023124) which is 9% of the total fee income (90/0 2023124}. Fiiiancial assistance is given in thc lorin of bursaries: short term awards to r¢li¢vc hardship, and support for uniforms, travel to school and for educational tripg. The Foundation also has a nuniber of modest scholarships which are iised to acknowledge pupils, acadernic or sporting excellence or provide financial assistance to certain qualifying pupils. Bursaries are rypically provided to pupils ￿h0 meet the schools academic entrance criteria as a reduction in school fees, most awards are made in a range of between 25 /0 and 75 /0 of tuition fees. The majority of the bursarial support available is in Ihe two senior schools. The Foundation is no longer able to offer bursaries in the junior section. The level of bursary that maj. be offered to a pupil is dependent on the financial Circumstances of the child's parents or legal guardians. The Foundation has agreed cut off levels at ii,hich bursarial support may be offered. The Foundation effectively assesses after tax household income which will include a notional income based on ￿sets, investments and equity in propertyw andlor a business where applicable. An alloii'ance is also given for any other children in full time education. During the year, bursari¢s w¢r¢ availabl¢ whcr¢ liousehold inconie is b¢low £65,000. InfoTmation on how to apply for bursarieg is provided iii the gcliools. prospectuses and on the Foundation ￿ebSite. Bursaries are principall}' awarded in year 7, although applicants from parents are welcome at other times if financial circumstances change. BuTsary a￿'ardS are then carried fO￿ard through a pupil s time at the senior school until they leave subject to m¢¢ting financial ¢ritcria. R¢¢ipi¢nts of awards ar¢ requcstcd to fill in a financial qu¢stionnair¢ ea¢h year and provide dociimentary evidence that their income is still ￿7th1n tlie qualifying parameters. WGHS offers a further free place. the Hepworth-Knott bursary which is funded from the sale proceeds of two sciilptures by former piipil Dame Barbara Hepw'orth and a legacy from Miss Margaret Knott, a popular, long-serving former Headmistress. Philanthropic support has etL2bled QEGS to support 3 students with IOOO/o bursary support. A generous legacy gift from the family of Anthony Albert Denton enabled a IOOO/o funded bursary to be made available to a senior boy. This legacy is held as an endowed fund. A donation from a Supporter who wishes to reinain anonymous generouslv continues to support two senior bovs with IOOO/o fees support. Page 6 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 We offer thanks to all donors who support our bursary programTlle and are making a transforniational change to young people's lives. Details of our bursary giving programme ¢an be found here littp%'.Ilwgs1-.uig.Liki Illdke-Ll-gTII' Govemorg 8Lknowledge ihat there are many more 8ppliLations for fees support than bursaries that Lan be offered. It is also recognised that financial constraints, including the introduction of VAT will unfortunately impact on future availability of bursary support therefore increasing philanthropy to support bursary provision is a key objective for the Foundation. Partnersbips witb State Sebools Partnerships with State Scbools- ISSP Wakefield Grammar School Foundation has been involved in Independent State School Pannerships (ISSP) since they were introduced in 1997. This has enabled Ineaningful collaboration between the schools in the delivery of Maths and Science, professional developnient of teachers and science outreach to local primary schools. Most recentl). this has involved twilight Physics INSET for existing and aspiring physics teachers from across the local area. Partnerships with State S¢hools- SHINE lii Autumn 2016, Ihe Foiindaiion launched its SHINE 'Serious fun on Satiirday, programme. SHINE is a leading educational charity whose fo¢us is social Inobility through education. W¢ were the first school in Wesl York8hire to be aw'arded a'serious Flin on Saturday. ¢ontraet with SHINE. 'Serious Fun on Saturday, is a programme hosted b), 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 throiigh offering innovative. fun, focussed activities. Although funding for the programme only lasted for the first tliree years, the Foundation sees it has such an imp)rtant role within the community that we continiied to budget for and run ihe 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 lessons. Our primary partners are Green Hill Primary School, Parkhill Junior & Infant School, St Mary s Primary School and Flanshaw Junior and Infant School. The programme involves ?8 Year 5 pupils from oiir primary partner schools attending our schoolg from 9.30an)-12.00 noon on nine Saturday mornings diiring lerm time. The leaming sessions are delivered bv specialist Foundation teachers who are passionate about their subject area and are supported by Sixth Forni Mentors. Specialist facilities and resources are employed in each subject area. The Year 5 piipils work in a eulture where excellence and enquiry is actively encouraged, esiablishing an increase in the children s aspirations and self-esteem. It also helps to provide an insight into what they can expect at secondary school, enabling theni to be more confident and positive about the opportunities it provides. The final Saturda}, The SHINE Celebration event- involves the families of participants being invited to share in the presentstion of certificates & awards. As part of our innovative eo-curricular prograinnies, QEDIEDGE, there are year 12 piipils who have olunle¢red at St John's Primary and Pinder's Primary, assisting in the ¢lassroom. Partnerships with State Schools- SPLATS This is an annual sci¢ncc based event run across threc days that involvcs both QEGS and WGHS. Local priniary schools are invited to participate and tlie events are run with the aid of year l O studcnts who deliver a nuniber of the activities. Page 7 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Partnerships with State Schools: Joint Latin teaching Joint Laiin teaching bett￿een QEGS and St Thomas a Becket Catholic School, an academy in Wakefield, h been running for eighteen >'ears. The Head of Classics at QEGS is released weeklv to 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 a Becket'5 on Friday afternoons. In addition: there are revision lessons and additional lessons during the school holida)'s &5 appropriate, which are offered to pupils from both schools and these have been popular and successful. From this initiative St Thorn￿ a Becket pupils have the opportunity to learn Latin - no other state school pupil in the Wakefield area has this opportunity. This also benefits both their English and Modern Languages learning. It offers a real academic challenge, with Latin's statistical record as the most difficult GCSE of all. As a school, St Thoiiias a Becket gains a'flagship" programme for their gifted and talented pupils and it adds an academic profile to the school which it has not had before. A number of pupils are enabled to gain the EBacc qualification that would not othenvise do so. In the [￿t few years, Classics teachers also led five trips to Rome for pupils from St Thomas a Becket which brings immense benefits beyond the classroom with the reputation of QEGS being enhanced considerably by its associaiion ivith Ihese trips. Music The music outreach projects connect pupils from the Foundation with their peer5 in the state sector. 14 Inusical pupils froTh WGSF travel to Man)'gates each weck whcr¢ thcy rchcarse with similarly skilled childTen froTll Other schools in the area. They prepare a programme of orchcstral music for twice yearly ¢on¢¢rts at Wakefield Cathedral. In December 2024 a student led Miisic Roadshow shared musical experiences with Pinders Primary, Woodlesford Primar). and St Johns Primary,. Patient Liaison Volunteers Working with our local hospital, Pinderfields. Year 12 and 13 pupils have the opportunity to apply for a role as a Patient Liaison Volunteer. They become part of the Mid Yorkshire team and play a crucial role in enhancing thc ¢xperienc¢ of patients, car¢rs, visitors and staff. Thcy do this by perfonning a wid¢ varicty of tasks thToughout the Trust to compleTnent the work of nurses and other paid staff. The pupils get hands-on experience in a hospital environiiient and have a huge iiiipact on patieiit services and life in hospital. As well as thc ditYer¢n¢¢ thev Tnakc to oth¢rs, our pupils d¢s¢rib¢ the positiv¢ inipact being a volunt¢¢r lias Tnad¢ on tlieir own lives: helping them to mcct n¢w Iriends and iniprov¢ tlieir sclf-contidencc and Tllotivation, and feeling thcy hav¢ a valuabl¢ contribution to Inakc. Pupils have donatcd man). l OOS of hours ov¢r thc lifc of tl)e partnership and have changed the experien¢e of many elderly, isolated and hogpital bound patients. Widening Partieipation We seek to level the pla}'ing field for ihe most disadvantaged pupils through the use of a range of rne￿Ures that promote widening participation through contextual admissions and additional academic support at 6th Forni. Applications to join year 12 take into consideration a range of similar factors to those used by higher education institiitions including.. You are the first generation of your immediate famil! to go to university. You attended a school achieving below. the national average at GCSE (AttainTnent 8 score). Your studies have been disrupted 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 bc¢n dcsign¢d to provide support by using academic activiti¢s and tasks that prepare pupils foT success at A level, bridging the gap between ability and attainnient. Page 8 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Communitv uge (Jf Foundkti()n faeilitie$ Anoth¢r asp¢ct of th¢ foundation s public benefit provision is in th¢ us¢ of th¢ schools. grounds and facilities by piiblic bodies, amat¢ur arts or sports groups and othcr charitable organisations. Thcs¢ groups u5¢ the school buildings or sports facilities at cost, below cost or in some cases free of charge. Lo¢al ¢lubs and organisations which were able to benefit during the year in¢lud¢d Yorkshire Philamonic Choir, Wakefield Hospice, Wrenthorpe Badminton Club, Wakefield Concert Society, Diddikicks and Calder Valley wood carvers amongst others. Addilioiially, Atlantis Swimming School hired the swimniing pool for teaching children to swim. In September 2024 the Foundation exiended a fornial lease with Next Generation, a Wakefield Community Youth Charity for the use of Stanley Royd playing fields. This has facilitated an arrangemeni for Wakefield College to use the fields for some of their sports courses and for Next Generaiion to offer activities to young people. School Charitv 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 the Foundation Charity Fayre to support for individual charities and pupil-led evenis. The school s Chariiies Committees play an important role in this, democratically deciding which charities are supported. Iii totsl, over £27,000 was raised by the school community to support charitable causes. Wakefield Charitie4 Homes Th¢ Gow¢rn()rs, tlic DiT¢¢tor of Finan¢¢ and Operations, the Homes Manager and the Estalcs Manager of the Foundation provide trustee and maiiagement services to Wakefield Chariiies. Homes, an alms house charity and Registered Social Landlord which provides low Cost accommodation for elderly people in need who have connectitsiis with the City of Wakefield. EQUALITY, DIVERSITY ATr4D INCLUSION The Foiindation is coniniitted to promoting equality and valuing diversity throughout our communiry, including our staff and pupils. Ai the end of the year: an EDI co-ordinator M.'as appointed to work with human resources, students and staff to develop an EDI strategy and co-ordinate opportunities to promote inclusivity- DISABLF.D PF.RSONS Due consideration is given to applications for employment of persons with a disability. either in arrangements for attending interview. or for ani, adjustmenis 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 disabilit>. during the course of their employment and reasonable adjustnients are made to allo them to continue to fulfil their duties. The company provides for the adequate training. career development and promotion of all staff with a disability. Students with disabilities are considered for admission to the school in line with published assessment and admissions processes for all students. Arrangernents are made, whereveT possible, for appropriate adjustments to Teflect individual needs. Page DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 EMPLQYEE INFORMA TION During tlie financial J¢ar tli¢ foundation has continued to d¢v¢lop arrangcmcnts to improvc th¢ dcplh and quality ot einploy¢¢ information. The aiin of this is to enabl¢ well iiianag¢d, TCSP¢Cttul employe¢ relationships that enable go' for learning is fundamentsl to the vision of the Foundaiion. The encourageiiient and celebration of learning nieans that the Foundation s schools consistently achieve strong academic results at each stage of a student's schooling. The schools continue to add value to the grades tlie pupils achieve in niany subjects with significant uplift in subjects such as the sciences, Art and technology subjects. WGPPS continues 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. Current data shows pupils are above national { 100) in all areas and the nuniber of pupils achieving ELG {Earl>' Learning Goals) by end of FS2 is also above national averages. Children make significant progress in phonics against the R Wl scheme. Junior section pupils consistenily achieve well above the national average {100) in sL￿dard]Sed testing. A verages across the year groups are comfortably above I l O. WGHS and QEGS continued to p¢rtorin well in th¢ 2025 public ¢xaminations for both A Lcvcls and GCSE. At WGHS, this year's cohort of A-Level pupils achieved 670/rJ A* to B grades compared to a national average of 54%. 790/0 of students secured a place at their first choice university. At GCSE. WGHS pupils secured an impressive set of results with 490/0 of all grades falling in the 9 to 7 bracket compared to a national average of •? %. Furthermore. 31 % of results were graded 9 or 8. At QEGS. this year's cohort of A-Level pupils achieved 76Q/o A* to B grades compared to a national average of 54 %. 770/0 of students secured a place at their first choice university. At GCSE. QEGS pupils secured a very pleasing set of results with 51 % of all grades falling in the 9 to 7 bracket. PagFe 10 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Extra-currieular offer Th¢ Foundation ¢ontinu¢s to place great emphasis on the benefits of a broad and inclusive duLalional ¢xpcri¢nc¢. Th¢ schools off¢r a full aiid varied programTll¢ of extTa-curriculaT activitics eithcr off¢r¢d within our timetable through the QED and EDGE prograinn)e, Forest school or 89 part of lunchtime or after school activities. Tliere are algo stroiig eoniniunity links with a range of clubs and partnerships a¢ross Wakefield tl)at give our pupil% pathways to enable them to develop their interests. The exira-curricular programme aims to develop friendships, provide rewarding experiences and versatiliry 'ithin and for all the pupils in the Foundation. allowing them to pursue their p￿S10￿s. be challenged and have the opportunity to try out new activities. It is also the aim to develop better staff I student relationships and facilitate the Foundation's ethos. Fecdback is rcgiilarly taken trom pupils and parents, so thc schools can adapt thcir offcT depcnding on th¢ intercsts of currcnt pupils. Based on recent fccdback, the QF.D and EDGE prograTllTll¢ will bc dev¢lop¢d ready for tlie 2026-27 academic year to offer different opportunities for each Key Stage. Pupil f4umbers A verage numbers of pupils in the schools were.. 2025 Number 526 150 633 123 180 2024 Number 554 140 656 122 139 WGHS Senior WGHS Junior QEGS Senior QEGS Junior WGPPS TOTAL 1,612 1,611 Total average student numbers remain comparable to the prior )'ear. However: the makeup of the nunibers identifies a reduction in the senior section. This reflects demographic changes of larger, older year groups moving through the school. The Foundation anticipates that student numbers will reduce for the next few years reflecting both affordability concerns and the demographic pattern of a lower number of school age hildTCn. FUTURE DEVELOPMENTS QUEEN ELtZABETH'S SCHOOL WAKEFIELD On 29 April 2024. Governors unanimously voted to restructure the Foundation into a single school. to be named Queen Elizabeth's School. Wakefield. A name that honours and reflects our rich 434 year legacy and our founding Royal Charter. Queen Elizabeth's School will be operational from I September 2026 govemed, as the current schools are, by Wakefield Grammar School Foundation. The school will continue to provide an excellent dcadeini¢ and pastoral experience to pupils from ages 3 to 18 but within one e(Kdu¢ati()nal, diamond m()del school. By uniting our family of schools into a eo- educational setting but with mogtl)J single gex teaching between ages I l and 16, we will bring a best of both worlds experience, combiniiig the benefits of single sex acadeinic focus with the broader experience of co- educi< tion. We will support our pupils to thrive in i< rapidly evolving world. PagFe IJ DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 This strategic transformation will not only enhance our acadeinic and pastoral excellence, but will also unlock significant operational efficiencies to bolster the long-term financial strength and sustsinability of the Charity. In taking this important decision, Govemors have undertaken detailed 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 witliin today's changed financial landscape. During this financial year, a significant ainount of restructuring and preparation ￿'ork has been undertaken in readiness for Queen Elizabetli's. Strategy Thc Board and Exccutive Group ar¢ dcv¢loping the strategy for Quecn Elizab¢th's including Cstablishing new valu¢s. Care, Adventure. Reach and Engage reflect Queen Elizabeth's ambitions for all of our community and will be the guiding values underpinning our strategy. CovernaDee The Committee structure of the Board has been amended to reflect the single school. The new committee struciure of Governance, People, Education and Finance became effective from I September 2025. School polici¢s for Qu¢¢n Elizabeth's arc being review¢d to ¢nsur¢ COTnpliance before I S¢pt¢nibcr 2026. Leadership and stsffing structures From l January 2025, Dr Brookes, 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, will become Head of the Preparatory Section w'ith responsibility for students from age 3 to 10. The Senior Leadership Team has been restructured to allow for an appropriaie balance of all school and School section leadership. Middle Leadership and support Staff roles have also been restructured reflecting the move to a single school structure operating over a STnaller school estate. The Board than￿ all Foundation staff for their understanding during these significant staffing restn]ctures. Estates The Board engaged specialist consultancy support to assess the estates requirements of Queen Elizabeth's and to propose an estates strategy. The Senior Section of the school (years 7- 13} will be located on the current QEGS site and the Preparatory Section (EYFS to Ycar 6) will b¢ located in W¢ntworth Housc, currcntly part of WOHS. This outCOTne ensures the existing estate is put to best use and will result in a reduction in the size of the estate to right size for future requirements. As a result. certain propertie5 will no longer be required once the new school is establish¢d, and these propcrti¢s hav¢ b¢¢n revicwed for impairinent. Gov¢rnoTS arc revicwing strategic options for realising value in these assets and will utilise the returns to invest in the new school. To achieve the relocation of pupils. significant capital ￿'OrkS are required primarily to make facilities age and gender appropriate. Estates changes began in the financial year to 31 August 2025 but the majority of Wor￿ will be in the year ending 31 August 2026. PagFe 12 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 During the year, the Clayton Pavilion building was made structurally sound and re-roofed. Late in the year. landscaping Thorks began on the site transforming the derelict site. adding a joining path to allo￿ safer transition of students, a grassed recreational area. wild meadow areas and additional car parking. Edlleation During the Swear ended 31 August •025, Senior Leaders have led the alignment of academic curriculums between Ihe schools ensuring that pupils educational experience is aligned. Teaching staff have increasingly worked across all school sites in readiness for •026. Pastorally, it has been a priority during this year to provide opportunities for students from each current school to be¢ome familiar with one another. with staff from each s¢hool and with new lo¢ations. Branding Thc curr¢nt thr¢¢ schools cach have thcir own crcsts, uniform and branding. During the year work has becn undertaken to develop a brand for Queen Elizabeth's. This has included work with the College of Arms on the school cresL and the developn)ent of a new uniform. Govemors thank the members of our community. students. staff, parents and alumni. who have participated in focus groups, responded to surveys or provided helpful comment all of which have contributed to the final branding and uniform designs. Finaneial impact 'l-he esiablishment of Queen Elizabeth's has been driven by educational, operational and financial rationale. Financially, short and medium teTm benefits will be evident in lower staffing and estate costs. Operationally, benefits will be driven from siiiipler Structures including aligned timetables and co-curricular offcrs, streamlincd evcnts, less coniplcx IT infrastructure, rcdiic¢d cornplianc¢ complcxity and SiTllpler, stronger marketing. Restn]cturing to achieve these financial and operational benefits has had a significant impact on the financial costs included within the Statement of Financial Activities in this financial year. The tables below set out the impact of the restn]cturing costs on the Ststement of Financial Activities. Statement of Restructure Results stated excluding Financial activities related Costs restructure costs £'(x)o £'Tr)o £'ooo Total incoming Resource5 23.665 23.665 Total Expenditure 126,8891 2,461 124,4281 Net outgoing funds from operations before investment gains and losses 13,2241 2,461 17671 Gains on Investments 296 296 Net expenditure Pension Scheme actuarial losses 12,9281 191 2,461 14671 191 Net movement in funds for the year 12,9371 2,461 14761 PagFe 13 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Analysis of total Charitable expenditure (note 5) Restructsre related costs Charitable expenditure exc'ludin¥ restructuring costs £000 Staff costs 17.567 640 16.927 Depreciation Iinpairm¢nt of properties Other costs 1,313 1,719 1,313 1,719 6,303 26,902 102 6,201 24,441 Toial 2,461 FILNANCL4L RESULTS The Foundation has prepared its annual report and accounts for the year ended 31 August •025. Like many independent schools. the Foundation has been operating in challenging financial circumstsnces. On l January 2025. VA T was imposed on school fees. The rapid mid-academic year introduction of VA T provided significant financial and operational challenges. The Foundation recognises that the addition of VA T had a substantial impact on fee affordability. at a tiine when fee affordability ivas already a concern. To mitigate the impact for families: Governors took the decision to absorb 3 % of the cost of VA T, passing on an equivalent increase of170/0 rather than 200/0 to parents. The nuinber of slud¢nts cnroll¢d in the Foundation did not rcdu¢e significantlv on the introduction of VA T. However, Governors recognise that many families are making significant sacrifices to enable ilieir children to either finish a key stage in their education and this Inay impact future retenlion of students. Governors also r¢¢ognige that liigher fees will be a significant barrier for futUTe families and that this may impact future admissions to the independent school secior. On l April 2025: the operaiing costs of the Foundation were impacted by the removal of charitable business rates tax relief from independent school charities. The loss of business rates relief will cost ihe Foundation around £370k annually. The Foundation was also financially impacted by the increase in employers national insurance contributions. by a 5.5 % teacher pay award and by a 6.7% increase in the National Living Wage. Thcs¢ significant cost incrcases, all beyond the control of the Foundation: mean that th¢ Foundation's decision to reduce the estate and restructure staffing through the mcrging of the three current schools is imperative for finan¢ial sustainability. In the year ended 31 August 2025, the Foundation reports a net reduction in funds for the year of £2,937k. This result includes the costs of restructuring noted above of £2.461k and investment gains of £296k. Ex¢luding restru¢tur¢ ¢osls and investment gains, the usual operating result of the year was a deficit of £777k {9023124 £809k). Whilst this is not an acceptable resiilt, Governors are pleased that the increased operating costs resulting from loss of business rates tax relief and increased national insurance have been offset by cost efficiencies. PagFe 14 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Net fee income of £22:430k (•023124 £23,396k) decreased in the year. This was a factor of a changed student profile with more students in lower fee younger yeaTS. VAT mitigation and a restrained fee increase in the J'ear. The number and value of new bursaries offered also reduced in the year, rebalancing the proportion ol. fce discounts to gross f¢¢ income. Furthcr rebalancing is rcquircd going torward thcr¢tor¢ Govemors are seeking to increE)se philantliropic support for bursaries. We are grateful to those who already regularly donate or leave legacies to support oiir bursar! scheme. Govemors recognise that affordability for parents is a key concern. Recent fee increases have brought the Foundation to a level of fees comparable with other regional indep￿ndent schools. The Foundation does r¢cogni5¢ that I￿7th th¢ additi()nal cost of VA T, th¢ ongoing affordabilitv of an indcpcnd¢nt cducation is a Lliallenge for many. We anticipate that student numbers will reduce as a result of the introduction of V A T. Reductions are likely to be from current students leaving the independent sector and from loiver admissions. Commercial operations. mostly frorn the letting of school building5 continues to grow. Commercial operations income increased from £45Ok to £477k. We continue to review comniercial opportunities seeking to balancc COTllTn¢rcial opportunily with thc nccds of the schools. Total expenditure increased from £25,267k to £26,889k; including restnieturing costs of £2,461 k. Excluding restructuring costs, total expenditure has decreased by £967k to £24,432k. Given the significant external cost pressure5 noted earlier this is a positive result reflecting the Foundation's efforts to identifj, and implement cost efficiencies and to provide value for parents. Cost efficiencie5 pfiTnarily arise as a result of right sizing tlie school's operation5 to r¢fl¢ct the student body. Efficicnci¢s hav¢ b¢¢n achicv¢d without impacting th¢ breadth of the Lurriculum, the co-curriciilar offer or the sinall class sizes. PROPERTY VALUES The Foundation holds a number of properties which are expected to be disposed of in due course following the restructure of the schools. Property assets are carried at cost less depreciation in accordance ivith FRSI O? Governors r¢vi¢w prop¢rt)' carrying valu¢5 for indications of impairinent and: ￿ller¢ n¢c¢ssary, estimate recoverable ainount with reference to fair value less costs to gell andl or value in use. As noted above, Governors are reviewing strategic options for disposal of several properties that will be vacated on transition to the ne￿. school and have sought valuations from a number of advisors. Initial indications are that some of the prOp￿rtIeS may not achieve their full carrying value if sold and therefore Oov¢rnors hav¢ r¢cognised an inipairm¢nt 105s of £1.7in in the year. Thc buildings in question havc b¢¢n aluable assets to the schools for generations of pupils, however, the iinpaiment loss reeognises the fact that potential buyers maj. not be educational providers and therefore woiild incur a cost of conversion for the intended use. Governors have applied significant estimaiion in reaching the conclusion, in particular in relation to the recoverable amount of the properties. and recognise that the disposal strategy to be adopted and market conditions ai the tiine of disposal could lead to a different outcome. Properties are likely to go on tlie Inarkct in th¢ next linancial year. INVESTMENTS AND CASH The Foundation has signifieant finan¢ial investments. These are managed by professional investment Inanag¢m¢nt conipani¢5. Investm¢nt in¢ome is us¢d to support a rang¢ of r¢stri¢t¢d and unr¢strict¢d activitics, but principally to support bursary provision. Duriiig the }'¢ar, inv¢stm¢nts ot £1.2Tll w'cr¢ sold to fund capital investment. Unrealised gains from investments totalled £296k this year (£828k unrealised gain in 9023124) and remain a gignificant contributor to the stability in net fund movement in the vear. Govemors continue to review investment perforniance and to ensure that the Foundation is actively managing cash balances. PagFe 15 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Foundation has worked hard to maintain its liquiditv position and Governors consider the financial posiiion as at 31 August 20•5 to be acceptable. Cash balances have reduced, partly reflecting thai the hi cash balance at 31 August 2024 included receipts of fees in advance made prior to the introduction of VA T. The impact of fees in advance agreenients can also be seen in the creditor position (notes l O and I l ). Both cash and invcstm¢nts hav¢ b¢¢n ulilis¢d to fund th¢ rcstructurc and in y¢ar capital inv¢stment. The accounts have been prepared on a going concern basis. Governors consider there to be no material un¢ertainty which ¢asts doubt on the Foundation's ability to ¢ontinue as a going ¢on¢¢m. RESERVES POLICY Thc Foundation's Rescrv¢s Policy suggcsts that th¢ Foundation hold, or aiin to hold, fr¢¢ r¢s¢rves of a minin)um of £) million, as a ¢ontingen¢y in order to maintaiii the stable operdlion of the school in the cast of a future iinforeseen event. Free reserves are considered to be unrestricted funds, excluding the Designated Funds and excluding the carrying value of tangible fixed assets held within general reserves. They are as shown in note 13 of these accounts. The Foundation's total reserves of £22.9m at the year-end included £2.8m restricted and endowed funds and £20.] m unrestricied funds. Of the unrestricted funds, £6.4m is held in Designated Funds. The Designated Funds are not considered to be '"'free reserves, as the Foundation has made a commitment to use these funds for specific purposes. On this basis, the Foundation does not hold any free reserves at 31 August 2025 {31 August 2024.. Nil). However, excluding the designated funds gives free reserves of £2.4m. Going forward the Governors are confident that the restructure of the schools into a single school will enable future financial sustainability and a retUTn to a positive free reserves position for the Foundation. IUSK MANAGEMENT The Governing Body has overall responsibility for risk management within the Foundation and this is delegated to the Risk and Governance CoTnmittee. In the opinion of Governors, the Foundation has e%tabli%h¢d %ystems whi¢h, under normal ¢ir¢un)slan¢es, should allow thos¢ risks lo be mitigated to an acceplable level in its daJ'_to-day operations. The Governors continue to keep the Foundaiion's activities under review. particularl}, with regard to any major risks that may arise from time to time. A comprehensive Risk Register is maintained by the Governors that itemises risks likely to be encountered by the Foundation, along with the systems and procedures that are in pla¢e in order to niitigat¢ the risks. The regi8t¢r is r¢VIe￿.ed by the Risk and G()vernan¢¢ Committee and the Board on a termly basis. The risks are classified on the register as High, Medium and Low and are quantified b￿ed on a score for both level of impact and likelihood of occurrence. During the year. two of the major risks identified on the risk register crystallised - the introduction of VAT and the removal of business rates relief. The major risks to the Foundation as noied on the Risk Register are.. The affordability of school fees for parents and the impact on siudent numbers Control of operating costs Management of a significant change programme Participation in the Teachers, Pension Scheme. The Governors believe that appropriate controls are in place to manage these risks successfully. Governors monitor the effectiveness of the conirols, including providing insurance cover ￿here appropriate, by which those risks identified by Governors can best be mitigated. PagFe 16 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The key controls used by the Foundation include.. Formal agend￿ and minutes for the Board and all Sub-committees Terms of reference for all Conimittees Termly revi¢w of the Risk Registcr Appointment of a dedicated Hecilth and Safety Manager and a Compliance Manager who give ternily reports to the Governors at the Risk and Govemance Conimittee Comprehensive strategic planning, budgeting and management accounting Established organisational structure and lines of repK)rting Formal written policies Formal risk as5¢551n¢nls undertak¢n for all in-school activitics, cducational vi51ts. classroorn environments. and workplaees Comprehensive fire risk assessmenis for all Foundation premises undertaken by an accredited third party organisation Commitment from Governors and Head teachers to ensuring a strong culture of health and safety aniongst all employees and to provide funding for expenditure to address H&S matteTS as required All staff recciving appropriate safeguarding, hcalth and saf¢ty, fir¢ Safety, GDPRand cyb¢r security traiiiing 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 Inoderate. Whilst operating in hallcnging and unc¢rtaiii timcs the Foundation has no borrowings, and pupil niimbcrs r¢inain at a reasonable level. The Foundation hag clear plans and has taken signifiLant steps to enhance the financial sustainability of the Foundation through a restructure of the school and ongoing right sizing Investments are made in accordance with Poundation policies and a long term view is taken. INVESTMENT POWERS, POLICY AND PERFORMANCE The Governors are pemitted to invest available funds &t their absolute discretion. The Govemors delegate the management of the Foundation's investments to Julius Bar International Ltd and Rathbones who provide regular valuations and report directly to the Finance Committee every year. The Finance Commitiee has set out its investment principles. the specific long-term objectives of which are the achievement of a balance of income and growth with total annual returns at least matching the performance of the ARC PCI Global Balanced index. BetM.een I SepteTllber 2024 and 31 August ?025 the return on the Foundation s investiiients was 6.30/0, froin a eonibinatioii of re-invest¢d retiirn4 and investment gain%. The Foundati()n's investment portfolio r¢fl¢¢led gencral market p¢rforiiiancc. Inv¢stni¢nls of £1 .tslli w¢r¢ sold in th¢ year to fund Capital d¢velopm¢nt. In addition to the above investments, the Foundation holds £4.5m cash at bank in accessible accounts. including instant access. short term deposit and treasury accounts. This balance can vary significantly dcp¢nding upon th¢ time of year. Cash balances are principally held to support day to day operations and regularl), a¢ce$4 degignated funds. The Investment Commitiee will continue to review investment performance and cash balances with the goal of making recommendations for improving the return on these assets. PagFe 17 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 FUNDRAISING Approx¢h to Fllndr2isin% The Foiindation has in pla¢e a Gift A¢¢eptan¢e Poli¢y and a Code of Ethical Fundraisiiig Pra¢ti¢e and is registered with the Fundraising Regulator, abiding by their Code of Fundraising Practice. Adherence to these policies ensureg that the Foundatioii has a professional approach to fundraising. The Foundation has a Developmeni Office that has primary responsibilities for.. Building and Inaintaining aliiTlllii r¢lations and conimunication a5 well as to arrang¢ alumni cv¢nts. Providing a strategic and tactical approach to fundraising for the Foundation. encompa55ing bursaries, major capital fundraising as well as legacies. Providing a range of opportunities for alumni to engage with and support current students within the Foundation ihrough mentoring and careers talks and support 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 Thitb professional fundraisers During the )'ear, thc Foundation has iiot worked with any external professional fundraisers, nor worked with volunteers to deliver fundraising. Fundraising conforming to recognised standards The Foundation is registered ￿1th the Fundraising Regulator and therefore bound by its code of practice to ensur¢ that ￿.¢ conforn] to re¢ognis¢d straiidards. Fundraising Complaints There have been no complaints about fundraising during this financial year. The coniplaints process is detailed in the Se¢tion A{8) of the Foundation's Gift A¢c¢ptan¢e Poli¢y and Code of Ethical Fundrnising Practice Protection of the public including vulnerable people Thc Foundation adh¢r¢s to the Fiindraising R¢gulator's Cod¢ of Fundraising Practic¢, in particular Scction I Standardg.. All fundraiging sthtes that fundraising will be legal, open. honest and respectful. Section A point 4 of the WGSF Gift Accepthnce Policy and Code of Ethical Fundraising Practice states that Donors will be encouraged to seek independent advice if the Foundation has any reason to believe that the donor is vulnerable or a prowsed gift Inight significantl!, affect the donor s financial position. taxable income. or relationship with other family members. Furthermore Section B(1 ) states that fundraising solicitations on behalf of the Foundation will.. b¢ tTUthlul accurately describe the Foundation's activities and the intended use of donated funds respect the dignity and privac}w of those who benefit from the Foundation's activities Adhere to the Fundraising Regulator's Code of Fundraising Practice PagFe 18 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 STREAMLILYED EIYERGY AIYD CARBON REPORT1Tr4G (SECR) Wakefield Grammar School Foundation are a 'large unquoted compan> under the Streamlined Energy and Carbon Reporting regulations so must report annually on greenhouse gas emissions froTn Scope l and 2 Elcctricity, Oas and Transport. The reporting period is the Thost recent financial year I September 2024 to 31 August 202). This report has been coinpiled in line with the March ?019 BEIS 'Environm¢ntal Reporting Guidelines: In¢liiding str¢amlin¢d energy and ¢arbon r¢porting guidan¢e', and th¢ EMA m¢th()dology for SECR R¢porting. All measured emisgions from activities which the organigation has financial control over are included as required under The Companies (Directors, Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, unless othenvise stated in the exclusions statement. The carbon figures have been calculated using the DESNZ ?095 carbon conversion factors for all fuels, other than the market based electricity i¥,hich has been taken from British Gas & Opus as the UK supplier. UK Carbon Footprint Data Scope tion Emissions Source tC029 2020121 2021122 2022n3 2023ll4 2024125 | Conibustion of fuel on site and transportstion Locatioii On sit¢- Natural Gas, based Diesel, Market Based Location b&5cd Market Based Scope I 838 943 845 943 845 838 943 845 943 845 Scope 2 Purchased energy Electricity. EV 387 302 282 302 ?82 Location Employee Business b￿ed Mileage Market Ba5¢d Location b￿ed Market b&5ed Location based Market based Scope 3 Indirect Emissions Totsl 1245 1127 1130 1075 933 943 845 837 808 712 Intenslty Ratio IC02e l £M Turnover 3.08 2.79 2.48 2.48 3.17 2.33 2.09 1.84 1.87 2.42 Total kvvh consumed Energy Usage Electricity, Natural Gas, Diesel, EV 6 559 500 6 073 387 5 977 682 5 697456 5 131623 Renewable 9/0 Electricity PagFe 19 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Emi55ions detail by fuel type Locauon ba59d rngthod .Na￿la1 Ga . Olesd EV Year on Year Emissions Changes Wakefield Graminar School Foundation's lo¢ati()n based emissions decreased from 1,075 tC02e in 2093124 to 933 tC02¢ in ?024125, this is an emissions rtdu¢tion of 13.20/0. Scope l emissions decreased from 808 tC02e in ?023124 to 71 ? tC02e in 2024125, this is an eTllissions rcduction of 11.90/0. Thi5 is due to a r¢duction in both natural ga5 coiisuniption and transport r¢lat¢d ¢missions. Natural Gas consiimption decrcas¢d from 4,379,861 kwh in 2023124 to 3,865,215 kwh. This is an 11.80/0 redu¢lion and resulted in an eii)issions decrease of 94 tcoge associated with natural gas consumption. Scope I transport emissions (Petrol & Diesel) decreased from 7 tC02e in 2023124 to 5 tC02e in 2024125. Scope 2 electricity consumption decreased from 1,288,900 kwh in 2023124 to 1,247,814 kwh in 2024125, a 3.20/0 reduction in consumption. Scope 2 location based emissions decreased from 267 tCO•e to 221 tC02e. Unlike market based emissions ivhich remained at'o, tC02e, location b￿ed emissions decreased. Wakefield Grammar School Foundation report their intensity ratio on an employee number basis. Emissions per employee have increased from 2.48 tC02e per employee in ?023124 to 3.17 tC02e per employee in 20•4125. Statement of Exelusions 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 Tnethods used No estimations made. PagFe 20 Docusign Envelope ID: 1 D778B71-6460-4A2F-91 BB-D7453591 SBEE ## Wakefield Grammar School Foundation GOVERNORS'REPORT FOR THE YEAR ENDED 31 AUGUST 2025 ## **Energy Efficiency Actions taken** - Two Flat roofs have been resurfaced using PIR insulation totalling 265 Sqm. - Replacement of two boilers in the laundry building. This involved removal of 200 kw units and replaced with 128 kw energy efficient boilers. Also replacement boilers in S TC building, these were 400 kw replaced with 300 kwh energy efficient boilders. These are controlled and monitored by BMS system. - Removal of a 200 litres hot water cylinder from QEGS Junior Section. - Replaced a 500 litre gas boiler hot water cylinder with a 300 litre electric hot water cylinder. - Replacement of two 600 kwh boilers at the WGHS Main building. - Resurface flat roof at QEGS 1891 building using PIR insulation totalling 450 Sqm. - Encourage pupils to use the school bus routes. From the start of the contract with our managed service provider, 4,835 school journeys were undertaken. This replaced an equivalent 98,762 individual car journeys, saved 474.41 tCO[2 ] and 145.61 tCO[2 ] emissions offset. ## AUDITORS Saffery LLP have expressed their willingness to continue in office as Auditors for the next financial year. ## STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS Each of the persons who are Governors at the time when this Governors' report is approved has confirmed that: - so far as that the Governor is aware, there is no relevant audit information of which the company's auditor is unaware, and - that the Governor has taken all the steps that ought to have been taken as a Governor in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information. Governors' report, including a Strategic Report, approved by order of the Board of Governors, as the company directors, on 11 April 2026 and signed on the Board's behalf by: Mr M Shevill Chair of Governors **----- Start of picture text -----**
G � Signed by:
Mrs C Harrison
Governor
**----- End of picture text -----**
_Page 21_ DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation GOVERNORS: RESPONSIBILITIES IN THE PREPAIIATION OF FINANCIAL STATEMENTS The Governors (who are also directors of Ihe Foundation for the purposes of company law, and the Charity Trustees) are responsible for preparing the Governors, Report and the financial statenients in accordance 'ith applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Compan}, law requires the trustees to prepare financial 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 tlie charitable group for Ihat period. In preparing these financial statements, the trustees 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 prudent,. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity ivill continue in business. The trustees are responsible for keeping proper accounting records that disclose ￿'1th reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitsble company and the group and hence for taking reasonable steps for the prevention and detection of frnud and other irregularities. In so far as the trustees are aware- there is no relevant audit information of which the charitable company's auditor is unaware,. and th¢ trust¢¢5 have taken all stCPS that thcy oiight to hav¢ takcn to Inakc thcms¢lv¢s awar¢ of any relevant audit information and to establish Ihat the auditor is aw'are of that information. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the reparation and dissemination of financial statements ma>. differ from legislation in other jurisdictions. Page 22 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAKEFIELD GRAMMAR SCHOOL FOUNDATION Opinion We have auditcd thc financial statements of Wakefield Orammar School Foundation (thc 'par¢nt charitable eon)pany') and its subsidiar), (the 'group') for the }'ear ended 31 ALigugt 2095 whieh comprise the eon%()lidated statenient of financial activities (in¢orporating in¢oine and ¢xpenditur¢ a¢¢()unt). the eonsolidated balance sheel, the charity balance sheet, the consolidated cash flow statement and notes to the fiiiancial statements, includiiig gigiiificanl accountiiig policies. The finaiicial reporting framework that has been applied in their prepar£ilion is applicable18w and United Kingdom Accouniing Staiidards, including Financial Rermirting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accouniing Practice). In our opinion the financial statements-. give a true and fair view of the state of the affairs of the group and the parent charitable ¢onipanJ' as at 31 August 2025 and ot th¢ group's incoming resoiir¢¢s and applieation of re%our¢es, including its incoine and ¢xpenditur¢, for the period then ¢nded,. hai'e been prOp￿r]Y prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance H.'ith International Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our responsibilities under those stsiidards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audii of the financial statements in the UK, including the FRC'S Ethical Standard, and ￿'e have fiilfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a b￿lS for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Governors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. 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 as a going concern for a period of at least twelve months from when the financial stateTnents are authorised for issue. Our responsibilities and the responsibilities of the Governors with respect to going concern are described in th¢ r¢l¢vant ￿ctIonS of this r¢port. Other informatio The other information comprises the information included in the annual report, other than the financial statem¢nts and our aiiditor s r¢port thereon. Th¢ Governors are responsibl¢ for thc other infoTTnation. Oiir opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in OUT repor¢ we do not express any torin of assurance conclusion thereon. Our responsibility is to read the other information aiid, in doing so, consider wh¢tli¢r th¢ other intorniation 19 materially inconsistent witli the financial statementg or our knoM.ledge obtained in the course of the audit or otherwise appears to be inaterially Inisstated. If we identifj. gu¢h material in¢onsigten¢ies or apparent material misslalements, we are required to deterinine whether this gives rise to a material misstatement in Page 23 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAKEFIELD GRAMMAR SCHOOL FOUNDATION tl)¢ financial statCTn¢nts th¢ins¢lvcs. If, bas¢d on the work we have ￿rform¢d, w¢ Conclude that th¢re is a Inatcrial niisstat¢ment ot this oth¢r inforination. w¢ arc requircd to report that tact. We have nothing to report in this regard. Other mattets preseribed by the Con)panies Aet 2006 Iii our opiiiion, based on ihe work undertskeii in ihe course of the audit.. the intormation given in the Governors Annual Report which includes the Directors, Report and the StTategic Report for the tiiiancial year for which the financial stateTnents are prepared is consistent with the financial stateii)ents' and the Governors, Annual Report which includes the Directors, Report and the Strategic Report has been prepared in accordance with applicable legal requirements. matte￿ on whieh we are required to report by exeeption lii Ihe light of the knowledge (ind 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 10 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 returns adequate for our audit have not been received fn)m branches not visited by us; or the parent charitable company financial ststements are not in agreement with the accounting records and returns: or certain disclosures of Govemors. remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. Responsibilities of Governors As explained more fully in the Statement of Governors, Responsibilities set out on page 22, the Governors {who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the tinancial statements and for being satisfied that thcy give a true and fair view, and for such internal control as the Governors determine is necessarj. to enable the preparation of the financial statements that are free from maierial misstatement, ￿hether due to fraud or error. In preparing th¢ financial stat¢m¢nts, th¢ Gov¢riiors arc r¢sponsibl¢ for asscssing the group and th¢ par¢nt haritablc company's ability to continu¢ as a going concetm, disclosing, as applicable, mattcr5 rclat¢d to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the group or the parent chariiabl¢ ¢ompany or to ¢eas¢ op¢rations, or hav¢ no realisti¢ alternative but to do so. Auditor's responsibilities for the alldit of the finaneixl statements We have been appointed as auditors under the Cornwdnies Act 21Kk6 and report in accordance with regulationg made under that Act. Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from niaterial misstatement. whether due to fraud or error, and to issue an auditor s report thai includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance ￿1th ISAS (UK) M.'ill always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonabl}, be expected to influence the economic decisions of users taken on the basis of these financial statements. Page 24 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAKEFIELD GRAMMAR SCHOOL FOUNDATION Irregularitl¢5, including fraud, are instanc¢s of non-compliancc with laws and regulations. Wc dcsign proc¢dur¢s in lin¢ with our responsibilities, outlined above, to dctcct material TlliSStat¢m¢nts in rcsp¢ct of irregularities, including fraud. The specific procedures for this engagement and th¢ extent to whi¢h these are eapable of detecting irr¢gularities. in¢luding fraud are d¢tailed bel()w. Identifying and assessing risks related to irregularities: We assessed the susceplibility of the group and parent charitable coinpany'g financial statements to material misstatement and how." fraud might occur, incliiding through discussions with the Governors, discussions within our aiidit team planning meeting, updaiing our record of internal controls and ensuring these controls operated ￿ intended. We evaluated possible incentives and opportuniiies for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the Context of the group and parent chariiable 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 parent charitable company include The Companies Act 2006 and guidance issued b)1 the Charity Cominission 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 stateinent itenis including a review of financial statement disclosures. We reviewed the parcnt charitabl¢ coinpany's records of brcach¢s of laws and regulations, niinut¢s of Ineetings and correspondence with relevant authorities to idcntifi, potential iiiaterial niisstateiiients arising. We discussed the parent charitable company's policies and procedures for COTnpliance with laws and regulations with Incmb¢r5 of nianag¢inent r¢sponsibl¢ for LomplianL¢. During th¢ planning Th¢¢ting with the audit t¢ain, the ¢ngag¢m¢nt partner dreiv attention to the key areas which niight involve non-eoinpliance with laws and regiilations or fraud. We enquired of management wh¢ther they ￿'¢re aware of any instan¢es of non-complian¢¢ with laws and regulations or kn()M,ledge of any actual, suspected or alleged fraud. We addressed the risk of fraud ihrough management override of eonirols by testing the appropriateness of journal entries and identifying ans, significant traiisactions that were unusual or outside the nomial course of business. We assessed wheiher judgements inade in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audii. the engagement partner's revie￿ included ensuring that Ihe team had approached their work with appropriate professional scepticism and thus the capacit), lo identif)J non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and Ihe further removed non- compliance with laws and regulations is from the events and transactions reflected in the financial statements: the less likely we would become aw"'are 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. ￿ fraud may involve deliberate concealment by. for example, forgery or intentional misrepresentations. or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. 'W￿..frC.0r .uklauditorsres onsibilitie5. This description forms part of our auditor's report. Page 25 DoGusign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAKEFIELD GRAMMAR SCHOOL FOUNDATION Use of our report This report is Inade solely to the parent charitabl¢ COTnpany's Tn¢inbers, as a body, in accordancc with Chapter i of Part 16 of the Con)panieg Act 2006. Our aiidit work has been undertaken so that we might 4tate to the parent ¢haritable eonipany's meinb¢TS tliose iiiatters we are required to state to them in an audiior's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent chariiable company and the parent charilable Lon)Pciny's meinbers as a body, for our audit work, for tliis report. or for tlie opinions we have fomed. s.fvj LLe Sally Appleton (Senior Statutory Auditor} for and on behalf of Saffer), LLP l O Wellington Place Leeds LSI 4AP Statutory Auditors Date.. 29 April 2026 Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2￿￿6 Page 20 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (LNCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 August 2025 Unrestricted funds £000 Restricted funds £000 Endowed Total funds Funds 2025 £000 £000 Total funds ?024 £000 .Voies INCOME AND ENDOWMENTS.. From ChL7ritahle aclFvilie.¥ Fees receivable Less bursaries, Scholarships and fee assistance ?6.636 (3.160} (2.800) (33) (2,833) 22,463 22,430 23,396 C)Ihgr Irading actEvitie.f Commercial operations Other activities 477 259 477 259 450 300 Invesiment income Bank and other interest Voltsrtiary SourL&s Donations, legacies and Grants 167 196 13 20 200 196 238 101 49 54 103 106 TOTAL INCOMING RESOURCES 23,611 34 23,665 24,591 EXPENDITURE ON.. Charltuble aclivilies School Operating Costs Impairment of fixed assets (Gain) l Loss on disposal of fixed assets Raisi#g.ftsnds Commercial trading operations 25,163 1,719 (12) 25,164 1,719 (12} 25,357 18 18 31 TOTAL EXPENDITURE 26,888 26,889 25,267 NET {OUTGOING)IINCOMING FUNDS FROM OPERA TIONS BEFORE INVESTMENT GAINS 33 20 33 (3,224) 296 (808) Gains on iiivestments 256 NET {EXPENDITURE) I tNCOME Pension Schcme actuarial Ios5¢S (3,021} 40 53 (2,928) (9) 20 Net movement in funds for the year (3,030) 40 53 (2,937) 19 Fuiid balances brought fonward at l August 2024 23,110 1,462 1,267 25,839 25,820 FUND BALANCES CARRIED FORWARD AT 31 AUGUST 2025 20.080 1.502 1,320 22,902 25.839 There are no recognised gains or losses in the year other than those shO￿n in the statement of financial activities above. Consequently no separate statement of recognised gains and losses has been prepared. All activities are classed as coniinuing. Profit I loss for the purposes of the Companies Act 2006 is the Net expenditure l income. Page27 Docusign Envelope ID: 1 D778B71-6460-4A2F-91 BB-D7453591 SBEE ## Wakefield Grammar School Foundation CONSOLIDATED BALANCE SHEET 31 August 2025 Registered Number 04258359 |||**Group**|**Group**||**Foundation**|**Foundation**| |---|---|---|---|---|---|---| ||_Notes_|**31 August**|**31**|**August**|**31 August**|**31 August**| |||**2025**||**2024**|**2025**|**2024**| |||**£000**||**£000**|**£000**|**£000**| |FIXED ASSETS||||||| |Tagible fxed assets|6|17,709||18,916|17,709|18,916| |Investments|7|8,225||9,003|8,225|9,003| |||25,934||27,919|25,934|27,919| |CU ENT ASSETS||||||| |Debtors
Cash at ba|8|2,157
4,460||975
7,565|2,327
4,257|1,155
7,350| |||6,617||8,540|6,584|8,505| |CREDITORS: amounts flling due|9|(8,454)||(8,322)|(8,446)|(8,312)| |within one year||||||| |NET CURRENT (LIABILITIES) /||(1,837)||218|(1,862)|193| |ASSETS||||||| |TOTAL ASSETS LESS CUENT||24,097||26,721|24,072|26,701| |LIABILITIES||||||| |CREDITORS: amounts flling due
afer more tha one yea|10|(1,195)||(2,298)|(1,195)|(2,298)| |||22,902||25,839|22,877|25,814| |REPRESENTED BY:||||||| |Endowment Funds
Restricted fnds
Unrestricted fnds
- Designated fnds
- General fnds|11
11
12|1,320
1,502
6,438
13,642||1,267
1,462
6,300
16,810|1,320
1,502
6,438
13,617|1,267
1,462
6,300
16,785| ||13|22,902||25,839|22,877|25,814| The accounts were approved and authorised for issue on Mr M Shevill Chair of Governors > **11 April 2026** by: > **G** � **s;gnedby:** Mrs C Ha ison Governor _Page 28_ DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation CONSOLIDATED CASH FLOW STATEMENT For the year ¢nd¢d 31 August 2025 ?025 £000 ?025 £000 20•4 £000 •024 £000 Notes NET CASH (OUTFLOW) I INFLOW FROM OPERATIONS 16 (3,109) 2,842 RETURN ON INVESTMENTS AND SERVICING OF FINANCE Inv¢stm¢nt incoine r¢c¢ipts Iiiterest received 238 101 196 397 339 CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT Purchase of tangible fixed assets (1,480) {1,162) PurCh￿e of investments (191) (203) Proceeds of sale of tsngible fixed assets Proceeds of sale of investments 12 1,266 63 (393) (1,296) (DECREASE) / INCREASE IN CASH {3,105) 1,885 RECONCJLIATION OF NET CASH FLOW TO MOVEMENTS tN NET FUNDS {Decrease) l increase in cash in the year {3,105) 1,885 Net funds at l August 2024 7,565 5.680 Net funds at 31 August 2025 4,460 7.565 Page 29 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 The financial statements have been prepared under the Companies Act 2006 and in accordance with the Charities Statement of Recommended Practice (SORP) and Financial Reporting Standard 102 {FRS 102). The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are set out belo￿.. BASIS OF PREPAIi4TION The Foundation presents its financial ststements for the year ended 31 August 2025. Thc accounts hav¢ bc¢n prepared in accordancc with the historical cost convention with the cxc¢ption of investments which are included at Tnarket value. On 17 Novenibcr 2004 thc Charity Coinmission grant¢d a uniting ordcr for Wak¢field OTaTnmar S¢hool Foundation (WGSF) and Wakeficld Grainniar School Foundation Endowed Lands Trust {WGSFELT) {Charity No. 529908). The uniting order allows the two Cliarities to be adininislered as one. Accordingly tl)e aecounts for the Foundation are for the con)bined regults of WGSF and WCIsfELT. Wakefield Grammar School Foundation meets the definition of a public benefit entity under FRS 102. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. ESTIMATION UNCERTAINTY During the year, the Governors have reviewed assets for impairment and as a result have estimated the recoverable amount of certain properties Ihat are no longer required when the school transitions to Queen Elizabeth's School in September 2026. The recoverable amount is based on the best infomation available at the time of calculation but the Governors recognise that the outconie could be significantly different depending on the market opportunities available at the time of sale. GOING CONCERN The accounts have been prepared on a going concern basis following consideration by the Governors. The educational opportunities available at the Foundation continue to be attractive and although pupil numbers have rcduccd over the last f¢w years in linc with demographics, they rcmain strong evcn in th¢ current econoiiiic cliinate. The Foundation manages operational cash flow to make the best use of available resources. FoTcca5t5 hav¢ b¢¢n pr¢pared and revicwcd tor tlie period of at Icast 12 nionth5 from thc datc of signing. From Sepiember-26, the operating model of the Foundation will reflect the new structure of the scliool and with tliat bring significant cost efficienLies. Sensitivit), analysis has also been considered with a number of key risk factors. Alongsid¢ tlie eurrent level of re%erves, ¢iirrent liahilitie% and eash, the GovernoTS consider there to be no material uncertainty which casts doubt on the Group's ability io continue as a going concern. BASIS OF CONSOLIDATION The consolidated financial statements comprise the accounts of Wakefield Grammar School Foundation and its subsidiary made up to 31 August 2025. The results of the subsidiary are consolidated on a line by line basis. No separate SOFA has been presented for the Charity alone, as permitted by Section 408 of Ihe Companies Act 2006. The net incoming resources of the Charity are disclosed in note 21. Pdge 30 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 FUND ACCOUNTING General funds, which are generated from the main school activities, are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the Foundation and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Governors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restrict¢d funds ar¢ funds which arc lo b¢ uscd in accordanc¢ with spffific restrictions impos¢d by donors or which have been raised b), the Foundation for a particular purpose. The cost ot raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the not¢s to the finan¢ial stdt¢m¢nts. Endowment funds are fuiids where the principic l is to be held in perpetuity. Investinent income eamed on the resources of the endowment fiind are applied for the purtx)ses of the restricted fui)d. ACTIVITIES The Governors consider there to be one charitable aetivity, this being the provision of education to children aged 3 to 18. FEES AND SIMILAR INCOME Fees receivable and similar income are accounted for in the period in which the setvice is provided. Fees receivable are stated after deducting allowances, scholarships and bursaries allowed by the school. DONATIONS. LEGACIES. G]14NTS AND OTHER VOLUNTAR Y INCOMING RESOURCES Voluntary incoming resources are accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the Foundation is considered probable. Voluntsry income for the Foundation's general purposes is accounted for as unrestricted and is credited to either Designated or General Reserves. Where the donor or an appeal has imposed restrictions, voluntary. income is credited to the relevant restricted fund and incoming endowments are accounted for as permanent trust capital or ¢xpendabl¢ trust capital, according to wh¢th¢r the doiior intends retcntion to b¢ perman¢iit or not. Gifts in kind are valued at estiiiiated open market value at the date of gift, in the case ol. assets for retention or consumption, or at the value to the Foundation in the case of donated services or facilities. TANGIBLE FIXED ASSETS Fixed assets are stated at historic cost. Iteins are capitalised ￿ Freehold Properly addiliong i¥,hen the expenditure incurred is considered to enhance aiid improve the overall fabric and condition ofihe Foundation gcliools. Depreciation is calciilated to write off the cost of fixed assets, less estimated residual value b￿ed on current market prices, on a straight line basis over their estimated iiseful 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 Pdge 31 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 Freehold land is noi depreciated. Assets under construction are not depreciated until they are brO￿￿t into use. Individual items costing less than £1,000 are charged to the income and expenditure account in the period in .hich the item is acquired. Fixed assets are revieived for impairment where there is an indication of impairment. IMPAIRMENT At each balance sh¢¢t dat¢ fixcd assets carricd at cost less depr¢ciation are ass¢ss¢d to deterrnin¢ wh¢th¢r there is an indication that the ￿Set (or asset's ¢￿h generatiiig unit) may be irnpaired. If there is such an indicatioii, the recoverable amount of the asset {or asset's cash gcncrating unit) is coiiipared to the carrying aiii()unt ()f the ass¢t (or ass¢t-'s cash g¢neraling unit). Th¢ rc¢ov¢rdblc ainount of th¢ asset (or gssct's casl) gencrating uiiit) is thc high¢r of the fair value less costs to scll and valu¢ in usc. Valu¢ in usc is defined as th¢ present value of the future ¢(￿h flows before interest and tax obtainable as a result of the asset's (or asset's eash generating unit's) continued use. These cash flowg are discounted using a pre-tax discount rdte that represents th¢ ¢urrent market risk-free rate and the risks inherent in the gsset. If the recoverable amount of the asset (or asset's cash generating unit) is estimated to be lower than the earrying amount, the carrying amount is redueed to its recoverable aniount. An iinpairment loss is recognised in the Statement of Financial Activities ￿ part of the School's operating expenditure. EXPENDITURE Expenditure is accrued ￿ soon ￿ the liability is considered probable, discounted to present value for longer term liabilities. The following inforn]ation is also rcl¢vant'. Govemance costs - include those costs incurred in the governance of the Charity and its assets and are primarily associated with constitutional and ststutory requirements. Charitable Activities- include expenditure associated 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 iteTll of expense to which it relates. INVESTMENTS All investnients other than in the subsidiar), are stated at market value. Unrealised gains and losses on revaluation and reali%¢d gains and losses on disposal are ¢redited to tlie fund to whiel) the iiivestm¢nts relate. Thc invcslm¢nt in thc subsidiary is stated at historical ¢osl. Bank and building society interest is recogniged on an accruals basis. All other investment income is re¢ognisd on a re¢¢ipts basis. PENSION COSTS Reiirement benefits to emplovees of the Foundation are provided through several pension schemes. The pension costs charged in the Statement of Financial Activities are detemined as follows.. a) The Teachers Pension Scheme - The majority of the teaching staff are members of the Teachers, Pension Scheme which is a multi-employer defined benefii scheme. It is not possible to identifj, the Foundation's share of the underlying assets and liabilities of the Teachers, Pension Scheme on a consistent and reasonable basis and Iherefore, as required by FRS 102. the scheme is accounted for as if it were a defined contribution scheme. The Foundation's contributions. which are in accordance Pdge 32 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 with the Government Actuary, are charged in the period in which they relate. b) Legal and General - the Foundation operates a defined contribution pension scheme adininistered by Legal and General. This scheme is available to eligible support staff and to teaching staff ￿,hO are not members of TPS. Under this arrangement. the Foundation pays fixed contribution5 into a separate entity and has no legal or constructive obligation to pay further amounts. The pension costs charge represents contributions payable by the Foundation to the Scheme during the year. These costs are allocated to the unrestricted fund and are recognised as an expense in the Statement of Financial Activities as the}. fall due. c) The P¢nsions Trust- S¢ri¢s 1 2 and 3 are Tnulti-¢mploy¢r dcfin¢d b¢n¢fit pension sch¢Tll¢S, whcrcas series 4 is a defined contribution schenie. Series 1, 2 and 3 are closed to further contributions fToJn new or existing Tllcinbers and contributions are only made into Series 4. It is not possiblc to identify th¢ shar¢ of undcrlyingT ar ss¢ts and liabilities b¢l()nging to individual parti¢ipating ¢mployer in th¢ P¢iisions TTUSt GTOWth Plan theTcfor¢ all of the ￿nSIOn schcTll¢ is accoiinted lor as a d¢fined ¢ontribution scheme. Contributions are charged in the period in which they relate. OPERATING LEASES Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are cltsrged against profits on a straight line basis over the period of the lease. FINANCIAL INSTRUMENTS The company has elected to apply the provisions of Section I I 'Basic Financial Instruments, and Section 12 'Other Financial Instriiments Issues, of FRS I O to all of its financial instruments. Financial instn]ments are recognised in the company's statement of financial position when the company becomes part), to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when there is a legallN' enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic Jina17cial inslrupnents Basic financial assets, which include debtors and cash and bank balances, are Tneasured at transaction price including transaction costs. Financial assets classiti¢d as rcc¢ivable within one year are not amortised. Basicfina17cial liabiliiies BdSl¢ tinancial liabilitics, including trad¢ and other ¢r¢ditors. including composition f¢¢$ arc r¢¢ognis¢d at transaction PTiC¢ unlcss the arrangemcnt constitiit¢s a financing transaction, wherc th¢ debt iiistrumcnt is measured at the present value of the future receipts discounted at a Inarket rate of interest. Financial liabilities classified 8s payable within one year are not amortiged. Pdge 33 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 FEES RECEIVABLE Total 2025 £000 25.263 (2,833) Total ?024 £000 26,636 {3,241) Unrestricted £000 25.263 (2,800) Restricted £000 Gross fees Less- scholarships, bursaries and allowances {33) 22,463 (33) 22,430 23,395 2 COMMERCIAL OPERATIONS Unrestricted Restricled £000 Total 2025 £000 Total 2024 £000 £000 Sale of confectionery and sports equipment Lettings After School Clubs and Holiday Clubs Rental income Oiher 47 47 184 104 125 17 184 104 125 147 101 120 477 477 450 OTHER ACTIVITIES Unrestricted £000 Restricted £000 Total 2025 £000 Total 2024 £000 Other 259 259 300 259 259 300 All income from commercial and other activities was unrestricted in 2024-25. t)ONATIONS Unrestricted Endowed Restricted £000 £000 £000 Total 2025 £000 Total 20•4 £000 Covenants. donation and legacies 49 54 103 106 49 54 103 106 Pdge 34 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 W.I.S. (EDUCATION) LIMITED The School has a IOOO/o interest in its trading subsidiar)w which is registered in England. W.l.S. (Education) Limited promotes commercial activities ￿'hICh use the schools, assets to generate income from lettings and other activities. The subsidiary had a turnover for the year of £193,828 (2024.. £217,083) and expenditure of £30,312 {2024.. £41,139). The whole of its taxable profits of £163,516 (2024.. £175,944} were gifted to Wakefield Grammar School Foundation under a Deed of Covenant agreement. At 31 August 2025 the subsidiary had assets of £231,921 (2024.. £251,90?}.. liabilities of £206,821 {2024: £2?6,801) and net assets of £25,100 (?024.. £?5,100). EXPENDITURE 2025 £000 2024 £000 Included in resources expended are: Govemors. liability insur&nce Operating lease payments- plant, machinery, vehicles and land Auditors. remuneration.. Audit of the parent company and consolidated accounts Audit of the subsidiary company Taxation services 292 ?82 22 The average number of employees emploved bv the Foundation during the period was as follows.. 2025 Number •024 Number Teaching staff Non-teaching staff 182 163 198 170 345 368 Pdge 35 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 The number of employees whose emoluments during the year exceeded £60,000 were.. 2025 Number 20•4 Number £60.000- £70,000 £70.000- £80,000 £80,000- £90.000 £90,000- £100.000 £1 00,000- £1 i 0,000 £1 I0,000- £120,000 £120,000- £130,000 £130,000- £140,000 £140,000- £150,000 £150,000- £160.000 £160,000- £170.000 £170,000- £18o,aoo £180,000- £190.000 -$7 42 31 44 Basic teacher pay for an upper pay scale teacher including pension contributions is now in excess of £60,000. The bandings for disclosure have not been amended for the cost of living inflation since 2018. Included within wages are redundancy costs of £545k which relate to 45 employees. STAFF COSTS 2025 £000 •024 £000 Wages and salaries Social security Pension costs 13,257 1,493 2,817 13,062 1,394 2,680 17,567 17,136 None of the Govemors received any remuneration or other benefits from the Foundation or from any connected body (2024.. Nil). Aggregate employee-benefits of key management personnel 551 594 Pdge 36 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Cbaritable activities Staff costs Other costs Total 2025 £000 Total 2024 £000 Depreciation £000 £000 £000 Teaching costs Wclfar¢ and catering Premises Administration Other ¢xpenditur¢ 13,606 204 975 1,925 857 317 1,909 1,375 1,827 1,104 52 16,469 1,574 3,700 2,995 577 ,579 3,561 3,266 909 759 237 17,567 1,313 6,267 25,147 25,315 Impairment of fixed ssets 1,719 1,719 (Gain) l Loss on disposal of fixed ￿setS (12) (12) Governanee costs 17 37 Total Expenditure by Cbarity 17,567 3,032 6,?72 26,871 25,357 Trading costs of the subsidiary 18 37 Total Expenditure by Group 17,567 3,032 6,290 26,889 25,394 Governance costs include the costs of external audit. governors, liability insurance and govemors, expenses. All expenditure included by the charity is considered to be direct expenditure as a result of undertaking the charitable activity. Pdge 37 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 TANGIBLE FIXED ASSETS Fixiures, Fillings and equipmeKI £000 Machinerv, compiiler and oiher equipmeNI £000 Freehold land aKd buildi17gs £000 Motor vehieles £000 Tolal £000 GROUP AND FOUNDA TION Cost At I S¢pt¢mber 2024 Additions in ycar Disposals in year 32,827 1,880 (21) 6,057 62 (86) 5,188 67 (125) 44,084 2,047 (239) 38 (7) At 31 August 2025 34,686 6,033 5,130 43 45,892 Depreciation At I September 2024 Charge for year Impainnent Disposals 15,657 760 1.719 {2) 5,152 937 4,347 319 12 25,168 1,313 1,719 (17) (4) At 31 August 2025 18.134 5.385 4,655 28,183 Net book value At I September 2024 17,170 905 841 18,916 At 31 August 2025 16,552 649 474 34 17,709 All tangibl¢ fixcd assets ar¢ owned by thc Foiindation. Included within the cost of Freehold land and buildings are assets under construction with a value of £4,025k (2024.. £2,731k). Th¢s¢ 855ets rclatc to tl)¢ Clayton Hospital sit¢ and are not ¢UTrently dcpr¢ciated. Post ycar-¢nd, thc buildings hav¢ b¢¢n brought into us¢ and d¢prcciatcd. An impairment loss of £1,719k (2024.. £Nil) has been recognised in the year f()Ilowing a review of the estate. Th¢ estate hgs been reviewed to ¢nsiire mlximum utili%ati()n of building% wh¢n the s¢hools transition to Queen Elizabeth's School in September 2026. The impairment calculation ig based on an estimation of the recoverable amount if these properties were to be sold. Pdge 38 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 7 INVESTMENTS Foundation Unrestricted £000 Foundation Restricted £000 Foundation Endowed £000 Total £000 MARKET VALUE At I September 2024 Additions Disposals Transfers Increase in market value 7,896 267 840 21 9,003 191 {1,234) (31) 296 (1 ?34) (319) ?56 240 48 32 At 31 August 2025 6,760 524 941 8,225 ANALYSIS OF INVESTMENTS Cash Govemment stock Charity deposits Listed investments 348 1,630 202 4,580 72 180 272 29? 1,994 382 5,501 649 6,760 524 941 8,225 FOUNDATION Unlisted investnients in subsidiaries 100 loo The following individual investment constitutes 50/0 or more of the market value of the overall investment portfolio.. £000 COIF income units 382 Included within Unrestricted Investments is £3.608k (2024.. £4,122k) representing part of the Bursary Reserves as shown in note 13. The charity deposits totalling £382k (?024.. £396k) consist of 19.518.73 units {2024.. 19,518.73 units) held in COIF Charities InvcstTnent Fund. There are no known material restrictions which might appl), on the realisation ol'this holding. Unlist¢d inv¢stmcnts in subsidiari¢5'. Cc7pilal and Resulisfor reserves Iheyear Class of shares Company Nc71ure ofbusiness /0 held w.i.s. Sale of confectionery, educational (Education) and sports equipment and supply Limited of sundry school activities Ordinary 100 25,100 Pdge 39 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 DEBTORS Group Foundation 2025 2024 £000 £000 2025 £000 ?024 £000 Fee debtors VAT due on Auturnn term fees Prepayments and accrued incorne Othcr debtors A Tnounts due from the subsidiary undertaking 81 1,161 697 218 157 52 1,161 697 218 199 120 560 258 560 ?58 ?17 2,157 975 2,327 ,155 Included in the amount due from the subsidiari, is a sum of £164k (2024: £176k) which relates to the subsidiary's surplus for tlie 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 2025 £000 Foundation 2025 20•4 £000 £000 2024 £000 Trade creditors Fees received in advance of tem Fees in Advance Scheme (see note 10) Other creditors T&Kation & social security Accruals Pension Funding Deficit 662 3,638 1,294 1,06.$ 979 813 545 4,579 1,321 1,037 340 498 662 3,638 1,294 1,065 975 809 545 4,579 1,321 1,037 334 483 8,454 8,322 8,446 8,301 CREDITORS.. Amounts falling duc after more than one year Group 2025 £000 Foundation 2025 £000 20?4 £000 2024 £000 Fees in Advance Scheme Pension Funding Deficit 1,190 2,298 1,190 2,298 1,195 2,298 Pdge 40 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 Fees in Advance Sebeme 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 term's notice. On the assumption that pupils will remain in school the advance fees will be applied as follows.. 2025 £000 ?024 £000 Within I to 2 years Within ? to 5 years Aft¢r Thore than 5 ycars 668 502 20 1,205 979 114 Due after more than l year 1,190 2,?98 Due within l year 1,294 1,3?1 2,484 3,619 202) £000 20•4 £000 Advance fees brOu￿1t fonvard Amounts utilised to pay fees Ne￿. contracts Unwinding of finance cost Repayments Net loss l (gain) 3,620 (1,267) 205 49 (123) 1,453 (649) 2,599 52 165 2,484 3.6?0 I I RESTRICTED FUNDS AND ENDOWED FUNDS The funds of the Foundation incliide endoived funds comprising the following unexpired balances to be applied for specific purp()ses. Balance at I Sep24 £000 Investment Gain Incoming Outgoing Balanee at 31 Aug25 £000 £000 £000 £000 AA Denton Bursary 1,267 33 20 1,320 The AA Denton Bursary was endowed to the Foundation for the funding of bursary provision at Queen Elizabeth Gramniar School. Pdge 41 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 The income funds of the Foundation include restricted funds to be applied for specific purposes comprising.. Balance at Investment I Sep 24 Gain I (loss) £000 £000 55 (]} Incoming Outgoing Balance at 31 Aug 25 £000 55 £￿0 £000 Herbert Ik'ice Exhibition Neil Spawforth Memorial Miss Mccroben Scholarship WGHS S¢holarship Isobel Fowler Scholarship Margaret Bentham Chapman Sports Hall Wilson Bursary. Ford Art Scholarship Development Bursary Fund Burscirn. Reserves Miss Knott Legacy Shine Clayton Campaign Mavis Moore L¢gacy Fund Marjorie Ann Holmes Musi¢ Fund Gail Knight Bursary 50 177 20 176 21 41 40 41 40 53 396 241 2?4 10 399 (i) 399 83 (33) 1.462 67 (34) Comparative Figures for Year Ending 31 August 2024- Balance at Investment 31 Jul ?3 Gain l (loss) £000 £000 52 Incoming Outgoing Balance at 31 Au% 24 £000 55 £lff)O £000 Herbert Wic¢ Exhibitio Neil Spawforth Memorial Miss Mccroben Scholarship WGHS Scholarship Isobcl Fowl¢r Scholarship Margarct Bentham Chapman Sports Hall Wilson Biirsary Ford Art Scholarship Development Bursary Fund Bursary Reserves Miss Knott Legacy Shine Clayton Campaign Mavis Moore Legacj Fund Marjorie Ann Holmes Music Fund Gail Knight Bursar), 49 163 20 51 176 21 40 40 41 40 276 198 67 343 224 io 399 20 399 107 1,374 43 79 (J4) 1,462 Pdge 42 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 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 61h form scholarships at WGHS. Isobel Fowler Scholarship- to provide a 6th form scholarships at WGHS Senior. Wilson Bursary - to provide scholarships based on academic Tllerit and financial need to pupils from the Mctropolitan Borough of Kirklecs cntcring s¢condary eduiativn ai WGHS or QEGS. Ford Art Scholarsliip - to provid¢ bencfits such as th¢ provision of art Tnat¢rials, exhibition visits, OT an internship, for pupils at WGHS Senior School aged 13 to 18: who have above average artistic ability. Bursary Reservcs and thc Dcv¢lopm¢nt Bursary Fund - funds donalcd sp¢cifi¢allv to providc total or partial exeniption froni the payment of tuition and other fees for children who iieed finaiieial assistance to enable them to attend the Foundation's Schools. Miss Knott Legacy- bequeathed from the will of Miss M A Knott, Headmistress of WGHS Senior from 1949 to 1973, for ihe use and benefit of Wakefield Girls, High School. Development Fund- to provide for sundry development and educational projects as specified by the donor. Shine to provide for the Foundation"s Shine 'Serious fun on Saturda}'s" programme after a successful bid for funding. Shine is a leading educational chariry whose focus is social mobility through education. Clayton Campaign - for funds raised, from donations and other sources, to develop the site of the former Clayton Hospital. Mavis Moore Legacy Fund- to provide benefits to the pupils at QEGS and WGHS. Marjorie Ann Holn)es Music Fund- to provide music and COTnposition equipment at WGHS. Gail Knight Bursary- to provide a bursary. for the benefit of pupils at QEGS The other funds consist of trust and prize funds set up by individual donors. The restricted funds comprise rcstrictcd and sonic oldcr endow¢d fund5. Di1¢ to th¢ ag¢ of 501ne tunds, it is diflicult to identify endowed funds separat¢ly. Pdge 43 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 12 DESIGNATED FUNDS The income funds of the Foundation include the following designated funds which have been set aside out of unrestricted funds by the Governors for specific purposes= Balance atl Sep ?024 £000 71 137 Movement in reserves Investment Incoming Gains Balance at31 Aug 2025 £000 71 137 Outgoing £000 £000 £000 Cy¢li¢al repair reserves ExtTaordinarJ' repair Tcs¢rv¢ Strategic reserves Sundry s¢hool reserves Hepworth Fund - Bursaries Bursary Funds 386 {2) 384 101 1,425 4,320 1,408 4,197 63 70 38 811 (84) (758) 6,300 133 851 (846) 6,438 Comparative Figures for Year Ending 31 August 2024= Balance at31 Aug 2023 £000 71 137 Movement in reserves Investment Incoming Gains Balance at31 Aug •024 £000 71 137 Outgoing £000 £000 £000 Cyclical repair reserves Extraordinary repair rcs¢rv¢ Strategic reserves Sundry school reserves Hepworth Fund - Bursari¢s Hcpwortli Flind - Estat¢s Bursary Funds 386 386 513 1,295 4?1 3,938 (418) (65) (421) (799) 57 1,408 ?10 848 4,197 6,375 331 1,297 (1,703) 6.300 Designated Funds are held for the following purposes: Bursary Fund - to provide total or partial exemption froTll the payment of tuition and other fees for children ho need financial as5iStance to enable them to attend the Foundation's schoo15. Incoining resources into the Bursary Reserves included the transfer of fee income of £758k {2024.. £799k). Funds of the sanie value were utilised to support bursary awards in the yeaT. The transfer of tee income to tlie bursary fund reflects a provision in the Articles of Association of the Company requiring an annual transfer of fee incoTne to the bursary fund. Cyclical repair reserves- to contribute to the cost of reciirring repairs. The Governors continue with works to upgrade and improve the existing fabric of the school buildings and part of this is funded by this reserve. Extraordinary repair reserve - held to fund the cost of unforeseeable major repairs, as and when required. Sundry school reserve5 - 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 ol. inspection or prospectuses, which Pdge 44 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 re occur over a timescale of up to 5 years. The funds also arise from fundraising and donations, such as amounts gift aided from the subsidiarn, company, the proceeds of which have been designated to be used for specific purposes, or as and when required. Strategic reserves designated funds have been set aside to help fund strategic priorities, including the transformation of the schools for September-26. Hepworth Fund - proceeds from the sale of two s¢ulptures by c¢lebrat¢d former Wakefield Girls. High S¢hool pupil Daine Barbara Hepworth. H¢ld for the benefit of preseiit and future WGHS pupils witli the balance intended to support the aim of widening parliLipation at the school ￿here Dame Barbara was educated. The estates fiind ￿ag utilised in the prior vear to purchase the Christian Science Church building which provides excellent facilities to the Girls school site. 13 ANALYSIS OF NET ASSETS BETWEEN FLWDS Designated funds Unrestricted funds Restricted funds Endowed funds Total funds £000 £000 £000 £000 £000 Fund balances at 31 August 2025 are r¢pr¢sentcd by.. Tangible fixed assets Investments Current assets Creditors 17,709 2,985 2,597 (9,tfv19) 17,709 8,•25 6,617 (9,649) 3,776 2,662 522 980 942 378 6,438 13,642 1,320 22,902 Coniparative figures at 31 August 2024- £000 £000 £000 £000 £000 Tangible fixed assets Investments Curreni assets Creditors 18,916 7,897 619 {10,621) 18,916 9.003 8.540 (10,609) 2•1 1.239 885 382 6,300 6,300 16.811 1.460 1,267 25.839 There are no free reserves at 31 August 2025 (2024.. £Nil). Free reserves are calculated as other unresiricted funds of £13,644k less the £17,709k carrying value of tangible fixed assets held within unrestricted funds. Designated Funds are not considered to be "free reserves" as the Foundation has made a p￿t commitment to use these funds for specific piirposes. HO￿.ever, a review of future purposes may result in the undesignation of reserves if the specific purpose is no longer relevant. Free reserves including designated funds are £2,373k (2024= £4,206k). Pdge 45 Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 14 CAPITAL COMMITMENTS 2024 £000 £000 Future capital expenditure.. Contracted for bui not provided in the financial staiements Coinmiiied ¢xp¢nditur¢ but not ¢ontra¢l¢d for 726 400 852 Future capital expenditure relates to the continued development of the Clayton site, which remains a long-term strategic priority for the Foundation. 15 OTHER FINANCIAL COMMITMENTS Ai 31 August 9025 the Foundation was committed to making the following total payments under non- cancellable operating leases= 2025 £000 2024 £000 Operttting leases payable within l year: Educational Administration 247 984 247 284 Operating leases payable within 2-5 years Educational Adininislration 133 242 133 242 16 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 £00 (2,938) 2024 £000 Net (outgoing) l incoming Tcsour¢es Elimination of non-operating cashflows.. Adjust to pension loss Adjust for gain on investments Add back depreciation charge Add back impairnient charge Add back loss on disposal of tangible fixed assets Interest receivable Defened income and advance f¢¢ payment received, less rel¢8s¢ Investnient income (Increase) in debtors (De¢re8s¢) l in¢Teas¢ in creditors (296) lJ13 1,719 {12) (196) (lJ16) (200) (1,182) (li) (828) 1,338 216 (221) (281) 2,709 Net cash (used in} I Provided by operating activities (3,109) 2,84? Pdge 46 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 17 ANALYSIS OF NET CASH I Sep 2024 Movement £000 £000 31 Aug 2025 £000 Cash at bank and in hand 7,565 (3,105) 4,460 Net cash 7,565 (3,105) 4,400 18 PENSION SCHEMES Teachers, Pension Scheme The School participates in the Teachers, Pension Scheme {"the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £3.648k {2094.. £3,549k) and at the year- end £276k {2024'. £306k) was accrued in respect of contributions to rhis scheme. The TPS is an unfunded multi-employer defined benefiis pension scheme governed by The Teachers, Pensions Regulations 2010 [￿ amended) and The Teachers Pension Scheme Regulaiions 2014 ( amended). Members coniribute on a "pay as you go" basis ivith contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided b). Parliament. The employer Contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The Inost recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report and the Va]uation Report was published in October 2023. Following the Mccloud judgenient, the rernedy 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 actuarics hav¢ assumcd that mcTnbers are lik¢ly to choose th¢ option that provides them with the greater ￿nCtItS, and in prcparing thc ?020 valuation have valued the 'greater value, benefits for groups of relevant members. Th¢ valuation confirtn¢d that the employ¢r contribution ratc for TPS would incr¢as¢ froTll 23.6Q/fj to 28.6Q/o from l April 2024. Employers are also required to pay a scheme administration levy of 0.080/0 giving a total employer contribution rate of 28.680/y. The Pensions Trllst TFf Retirement Solutions- The Growth Pian Wakeficld OraTnmar School Foundation participates in th¢ sch¢ine, a multi-employer schemc which provides bencfits to some 521 non-associated participating ¢Tllploycrs. The sch¢ine is a dcfincd b¢n¢fit schein¢ in the UK. It is not possible for the company to obtain sufficient inforination to enable it to a¢count for the s¢heine as a defined b¢n¢fit s¢heme. Therefore il a¢¢ounts for th¢ s¢heme as a defined contribution scheme. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issiied by the Pensions Regulator and Technical Actuarial Standards issued b}, the Financial Reporting Council, set oiit the framework for funding defined benefit occupational pension schemes in the UK. Pdge 47 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 .1 he scheme is classified as a'last-man standing arrangement,. .1 herefore, the compan). is potentially liable for other participating employers, obligations if those employers are unable to nieet their share of the scheme deficit following w"'ithdrawal from the scheme. Participating einplo}'ers are legallv required to meet their share of Ihe scheme deficit on an annuity purchase basis on ￿lthdraWal from the scheme. A full actuarial valuation for the scheme was carried out on 30 September 2023. This valuation showed assets of £514.9ni, liabilities of £531.Om and a deficit of £16.1 m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheTne as follows.. Defieit contributions From l April 2025 to 31 March 2028- £2,100,000 per annum (payable monthly) Unless a concession has been agreed with the Trustee the term to 31 March 2028 applies. Note that the scheme's previous valuation was carried out with an effective date of 30 Septeniber 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliniinate this fundiiig sliortfall, the Trustee asked the participating emplo)Jers to pay additional contributions to the scheine as follows.. Deficit contributions From l April 2025 10 30 Mar¢h 2028: £3,312,000 per annum {payabl¢ Tnonthly and increasing by 30/0 ¢ach on 1st April) The recovery plan contributions are allocated to each participating employer in line wilh their estimated share of the Series l and Series 2 scheme liabilities. Where the scheme is in deficit and where the company has agreed to a deficit funding arrangemeni the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. PRESENT VALUES OF PROVISION 31 August 2025 31 August 2024 £000 £000 Present value of provision Pdge 48 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 RECONCILIATION OF OPENING AND CLOSING PROVISIONS 31 August 9025 31 August 20?4 £000 £000 Provision at start of period Deficit contribution paid (3) Remeasurements- amendments to the contribution schedule Provision at end of period INCOME AND EXPENDITURE IIKPACT Period End¢d Y¢ar Ended 31 August 2025 31 August 20?4 £000 £000 Remeasurements- amendments to the contribution schedule Costs recognised in income and expenditure account ASSUMFrIoTris 31 August 2025 31 August 2024 31 August 20•3 /rJ per annum /0 per annum /0 per annum Rat¢ of discount 4.37 5.13 6.04 Th¢ disc()unt rat¢$ SI1()￿'n ab()v¢ arc tlic ¢ClUlVdlcnt singl¢ dis¢ount rat¢s which, wh¢n used t() dis¢ount thc futiire recovery plan coniribiitions due. would give the same results as using a full AA corporate boiid yield curve to discount the same recovery plan eontributiong. The follo￿.ing schedule details the deficit contributions agreed between the company and the scheme at each }'ear end period.. Pdge 49 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 DEFICIT CONTRIBUTIONS SCHEDULE Period ending 31 August 2025 31 August 2024 £000 £000 Year I Y¢ar 2 Y¢ar 3 The company Inust recognise a liability measured as the present value of the contributions pajable that arise from the deficit recoverj agreement (ind the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises. It is these coniributions that have been used to derive the company's balance sheet liability. Legal and General On l Mareli 202), the Foundation enrolled support staff and participating teachers into a Legal and General Pension scheme. This is a defined contribution schetne. The pension charge for the period includes contributions payable to the scheme of £2i8k (2024.. £Nil). Friends Provident The school also contributeg to Friends Provident pension scheine which is a defined contribution gcheme. The pension charge for the period includes contributions payable to the schen)e of £5k (2024.. £5k). RELA TED PARTY TRANSACTIONS A numbcr of Govcrnors have childr¢n who attcnd th¢ Foundation schools. Governots pay normal school fees on commercial terms. The Foundation has a IOOQ/o interest in its trading subsidiary W.l.S. (Education) Limited. During the period ended 31 August 2025. adniinistratioii and eglates services have been provided by Wakefield Grammar School Foundatioii on an ami's length basis, with a manageinent charge of £ l ?k pajable b W.l.S. (Education) Limited (2024.. £1 I k). At the year-end there were amounts outstanding to Wakefield Grammar School Foundation of £199k (2024.. £217k) which includes the gift aid due in relation to the year ended 31 Augiist 2095. 20 OTHER CHARITIES WAKEFIELD CHARITIES, HOMES The Governors and staff of the Foundation provide trustee and management services 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 management charges of £26k (20?4: £23k) were payable by Wakefield Charities, Homes to the Foundation for administration services provided on an arm's length basis. The funds below, which are also administered by the Governors of Wakefield Grammar School Foundation. are included separately, on pages 55 and 56. as funds provided for specific purposes, and do not form a part of the Foundation's activities. Pdge 50 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 BROTHERTON SCIENCE SCHOLARSHIP Bequeathed by the Will of the late Lord Brotherton of Wakefield to provide for the estsblishment of a scholarship for the study of physics and chemistry at the Universities of Manchester and Leeds. WILSON AND BROMLEY'S CHARITY Bequeathed separately b}, the Will of Richard Wilson dated 7 December 1672 and John Bromley dated 3 January 1722 and amalgamated to provide an annual income to the Vicar and Curate of Wakefield. 21 WAKEFIELD GRAMMAR SCHOOL FOUNDATION RESULTS Th¢ Foundation's own results for th¢ y¢ar includ¢d in th¢ consolidatcd StatCTn¢nt of Financial Activiti¢s w¢rc'.- 2025 2024 £000 INCOME AND ENDOWMENTS FROM.. Charituhlc aclEVItic.¥ Fees receivable Less bursaries, scholarships and f¢¢ assistance 25,263 (2,833) 26,636 (3,241) 22,430 93,395 Oiher Iradirtg aclii'ilies Commercial operations Income from Subsidiary Other activities Inveslwenls Investment incoine Bank and other intercst Voluntary Sources Donations, legacies and Grants 283 164 259 233 176 300 200 196 238 103 106 TOTAL INCOMING RESOURCES 94.549 EXPENDITURE ON.. Charilable aciivilies School Operating Costs (Gain) / Loss on sale of fixed assets 26,871 (12) 25.358 TOTAL EXPENDITURE 25,363 NET OUTGOING FUNDS FROM OPF.RA TIONS BEFORE INVESTMENT GAINS AND I.OSSES (3,224) (814) Gains on inv¢stni¢nts 296 828 NET {EXPENDITURE) I INCOME (2,928) Pension Scheme actuarial losses (9) Net movement in funds for the year (2,937) 14 Fund balances brought fon¥ard at I September 2024 25.814 25,800 FUND BALANCES CARRIED FORWARD AT 31 AUGUST 2025 22,877 25,814 Pdge 51 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES_ Comparative figures by fund type Year ended 31 August 2024 Unrestricted funds Restricted funds End0￿ed Total funds Funds 2024 Total funds ?023 .Noie.¥ 12 months 13 months £000 £000 £000 £000 £000 INCOME AND ENDOWMENTS FROM.. Charitable aclivilies Fees receivable Less bursaries. scholarships and fee sistance 26,636 (3,207) 26,636 (3,240) 26,419 (3,160} (33) (33) 23,396 23,259 Oiher Irading octivilies Commercial operations Other activities Inveslnpenls Investment income Bank and otlier interest 450 300 450 300 360 171 209 12 238 ioi 168 67 Donations, legacies and Gnants 34 67 106 TOTAL INCOMING RESOURCES 24,5?3 46 22 24,591 24,336 EXPENDITURE ON.. Charitable aclivities School Operating Costs 25,356 25,357 25,236 Comniercial trading operations Loss on disposal of fixed assets 37 37 TOTAL EXPENDITURE 25,397 25,398 25,267 NET {OUTGOING) I INCOMING FUNDS FROM OPEIL4TIONS BEFORE INVESTMENT GAINS AND LOSSES (874) 45 22 (807) (931) Gains l (losses) on investments 695 43 89 827 (125) NET {EXPENDITURE) I INCOME (179) 88 20 (i} (1.056} Pension Scheme actuarial losses Net movement in funds for the year (180) 88 19 (1,056} Fund balanc¢s brought forward at l August 2023 23,290 1,374 1,156 25,820 26,876 FUND BALANCES CARRIED FORWARD AT 31 AUGUST 2024 23,110 1,462 1,267 25,839 25,820 Pdge 52 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation BROTHERTON SCIENCE SCHOLARSHIP INCOME AND EXPENDITURE ACCOLNT For the year ended 31 July ?025 2025 2024 INCOME Interest receivable Investment income 115 2,674 115 2.339 TOTAL INCOME 2,789 ?.354 EXPENDITURE Scholarships awardcd {500) (500) TOTAL EXPENDITURE (500) (500) Investment gaIn￿[loS5es) (2,951) 4,938 {DEFICIT) I SURPLUS FOR THE YEAR (662) 6,892 BALANCE SHEET AT 31 JULY 2025 TOTAL ASSETS Investments (at market value) Cash at bank Debtor 80,009 6.043 36,429 82.960 5.998 122,481 123,143 R¢pre%ei)ted by.. A¢¢iimulat¢d tund At l August 20?4 Surplus / {deficit) for the year 123,143 (662) 116,251 6,892 At 31 July 2025 122,481 123,143 Page 53 DoGUSign Envelope ID." 1D77BB71-e4604A2F.91 BB.D74535915BEE Wakefield Grammar School Foundation WILSON AND BROMLEY'S CHARITY Year ended 31 July 2025 INCOME AND EXPENDITURE ACCOLNT For the year ended 31 Julv 20n5 2095 2024 INCOME Interest receivable 10 12 TOTAL INCOME 10 12 EXPENDITURE RESULT FOR THE YEAR BALANCE SHEET AT 31 JULY 2095 TOTAL ASSETS Cash at bank Creditor 60? (250) 592 {2iO) 352 342 Represented by.. Acciirnulat¢d fund At l August 2024 Result for the year 342 10 330 12 At 31 July 2025 352 342 Page 54