Charity number.. 1090885
WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
IWR
Partners
Protecting your future.

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
CONTENTS
Page
Refer&n¢e and Adminlstrative Details of the Charity, Its Trustees and Advisers
Trustees, Report
Independent Audltors, Report on the Financial Statements
Statement of Financial ActivS1ie5
7-10
11
Balance Sheet
12
Notes to the Financial Statements
13-23

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2022
TrLtstees
Mr D J Hughes, Chairman
Mr S Ross
Mr M J Hughes
Dr R D G Cooper
Mr J Harper
Charity registered
number
1090885
Principal office
clo Wolverhampton Grammar School
Compton Road
Wolverhampton
WV3 9R8
Clerk to the Trustees
S Hemmings
Indepèndent auditors
WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
Bankers
Lloyds Bank PIC
28a High Street
Tellenhall
Wolverhampton
WV6 8QT
Solicitors
FBC Manby Bowdler LLP
6-10 George Street
Snow Hill
Wolverhampton
WV2 4NB
Investment Manager
Evelyn Partners
3rd Floor
g Colmore Row
Birmingham
B3 2BJ
Page 1

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
The Trustees present their annual report together with the audited fi'nancial stalem$nls of the Charity for the 1
September 202110 31 Augu512022.
Objectlves and actlvities
a. Policies and objectives
The objects of the Charity are lo support and fund Wolverhampton Grammar School (the 'School'l.
The principal activity is lo support and fund Wolverhampton Grammar School in ils aims and lo provide financial
support for capital projects of the School.
b. Strategies for achieving objectives
The agreed strategy has been lo lake advantage of the improving market conditions lo increase the value of the
investment portfolio with a view to providing support where practicable through income streams in future years,
thereby allowing the ¢apilal of the Fund to remain al least at current levels and to meet the ReseNes Policy
agreed lor the ¢onsolidaled group las detailed under Organisalional Slructurel.
c. Activities undertaken to achievè oblectives
In conjunction with ils Investment Manager, the Charity has been focusing on increasing the value of ils
investment portfolio lo enable increased support of the School in future years.
d. Grant-making policies
The Trustees, policy is to fund any specific bursary or scholarship al the School as required by the donoT of those
funds and lo make general funds available to the School for bursaries and in support of other aims and
objectives of the School as agreed with the Directors of the School, in particular for ¢apilal projects. 11 was
decided by the Trustees that an award lo the School would not be made this year,. however, il is hoped that in
fvlure years financial assistance will be given as the Charity continues the provision of benefit for pupils al the
School and for the School itself.
g, Volunteers
Many parents, friends of the School and Old Wulfrunians help with fundraising, cultural and sporting activities
providing many hours of voluntary service during the year. Mueh of this work involve5 raising awareness of the
need lo promde bursary support and promotion of the School's Appeal Fund role and support in this.
Page 2

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2022
Objectives and activitie5 Icontinuedl
f. Main activities undèrtaken to further the charity's purposes for thè public benefit
Being a former slate funded Grammar School and subsequently heavily involved in the Government As51s1ed
Places Scheme. Wolveihamplon Grammar School is perceived by itself and Ihe people ol Wolverhampton, very
much as a School with a duly to uphold its strong ¢h&rilable links. This strength has been further developed
since the advent of lull independence in 1979. with great importance placed on maintaining the publi¢ benefit
provided, not only in the delivery of a rounded education, but also through the provision of supported places to
pupils otherwise unable lo afford lo attend the Schcol. Wolverhampton Grammar School remains an
academically selective, bul not elitist School. 11 continues lo remember ils tradition of educating pupils from all
sections of the community, with a significant number of bursaries being offered. to 8SSiSt childron of low income
families IN 8llending the School. The philosophy tsl the School is steeped in the educational tradition ol providing
pubSic benefit, in both educational and community terms. Furthèrmore, the continuation of a policy of provlding
pla￿$ to pupils who cannot 8fford to pay fees is one endorsed wholeheartedly by the School's Directors and
staff alike. Whilst the main focus for bursarial support rightly concenlrates on full fee awards, the School's
Directors are also mindful of PLJpils who wish lo allend the School, bul do not qualify for full bursaries. With this in
mind, there ale a number of part funded places offered lo families of moderate income, further widening the
access to potential beneficAaries.
Although Ihese Commitments have been difficult lo honour in recent years, the strategy is lo resume support lo
the School. During the year the Charity continued lo make avaiLable part of ils freehold land and property for the
use of the School.
In the further8nce of the aims, the Trustees have complied with the duly in section 4 of the Charities Act 201110
have due regard lo the Gharity Commission's published and relevant sub sector guidance Con￿rning the
operation of the Public Benefit requiremenl under that Act.
Achievements and performance
a. Review of actlvities
The Charily holds an investment portfolio. including property, the results of which are reported below.
b. Investment policy and perfomiance
The Trustees have appointed Investment Managers lo manage the investment portfolio on a discretionary basis
in a¢¢ordance with the agre&d strategy. The Trustees monitor the retums on a regular basis. The investment
(A)jectives are
The ¢reation of a sufficient financial relum to enable tho Charity to carry out its purposes effectively and
wilhoul inlerruplion;
The maintenance and enhancement of Ihe investment funds over the long term.,
To obtain a reasollable balance between capital growih and income so Ihal the Charity can meet futu
as well as current needs.,
To avoid investments that are unduly risky.
The income for the year from the managed investment portfolio amounted lo £2,36712021.. £2,368).
Page 3

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2022
Achievements and performancè Icontinuedl
Overall Performance
The total income for the year frtyn donations and both the investment portfolio and investment properties
amounted lo £25,573 {2021'. £25,962).
Rental income from inveslmenl properties accounted for 89Q/o 12021.. 910AI ol the total income generated, with
the balance made up from investment returns from quolecl investments and donations.
The results for the year are shown In the Slalemenl ol Finan¢ial Activities on page 11 8nd show a positive nel
movement of funds of £30,68912021'. £59,253>.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate
resources lo continue in operational existence for the foreseeable future. For this reason, they Continue to adopt
the going con¢ern basis in preparing the financial stalemenls.
The Trustees have also assessed the potential impact on the future operations of the Charity with regard lo the
Covid 19 outbreak. The Charity is considered lo be well positioned given the current environment with no impacl
on the going concern basis of the financial slalemenls.
b. Reserves policy
In the Trustee's view, the level of reserves held should provide the Charity with adequate financial stability and
the means for il lo meet ils charitable objectives for the foreseeable future. The level of reserves is also
considered in line with the consolidated group's Reserves Policy which aims lo build up and maintain ils
unreslricled free reserves in order to accommodate longer term plans for capital investment and other slralegic
objectives as well as provide an emergency fund lo manage the risks and uncertainly for an educational charity
in the current political and econornic climate. In addilion, the Directors 2nd the Trustees recognise the need to
increase the reslricled and endowment reserve held lo help fund future transformational bursaries.
Al 31 August 2022 total funds amounted lo £1,274,246 12021.. £1,243,557). All funds held are classed as
unreslri¢led.
StnJ¢ture. governance and management
a. Constitutlon
The 1958 Appeal Fund is ¢onsliluled under a Declaration of Trust dated 30 April 1958 and ils subsequent
amendments.
b. Methods of appolntment or election of Trnstees
The Charity's Trustees are appointed by Deed of Appointment by the curr&nUovlgoing Trustees who carefulty
consider the range of skills which ale required by the Board of Trustees.
A minimum of four Trustees are required on Ihe B02rd.
Page 4

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
TRUSTEES. REPORT ICONTINUED
FOR THE YEAR ENDED 31 AUGUST 2022
Structurei governance and management Icontinuedl
c. Policies adopted for the Induction and trainlng of Trustees
New Trustees are provided with an induction pack. which contains details of the trust deeds under which the
Charity operates. Before taking up post, they meet with the Chairman ol the Board of Directors of the School and
the Head of the School.
Once appointed. a meeting with the Clerk lo the Trustees is arranged, lo provide more detailed infomalion and
to identify appropriate training courses for individuals lo allend.
d. Organisatlonal structure and decision making
Wolverhampton Grammar School is a charity and company limited by guarantee. and is governed by ils
memorandum and articles of association. The associated Trusts, The Independen¢e Appeals Fund and The
1958 Appeal Fund are administered in conformity with their Trust Deed5.
The consolidated accounts comprise Wofverhampton Gramrllar School Ltd Iregislered charity number 11252681,
Wolverhampton Giammar School Founclalion (registered charity number 5290061. Wolverhampton Grammar
School Independence Appeal Fund Iregistered charity number 5074871 and Wolverhampton Grammar School
1958 Appeal Fund Iregislered charity number 10908851. The School was sel up to run the operational and
trading aclimlies, the Foundation was sel up lo manage the specie endowed land and buildings and the bKo
Appeal FLJnds were sel LJP lo support the School in ils aims and lo provide financial help wherever possible lo
students who would not othe￿iSe have been able to attend Wolverhampton Grammar School.
The Trustees are responsible for the overall management of the Charity.
The Trustees meet al least twice a year and are empowered to ensure that the policies of the Charity are carried
out in line with the aims of the Charity.
The day lo day management of the Fund is delegated to the FLJnd's Investment Managers and lo
Wolvertiamplon Grammar School management. The Head and the Finance Difftclor of the School (who also
acts as Clerk to the Trustees) allend meetings of the Trustees.
. Risk management
The Trusle&s examine the major risks each financial year with particular reference to their future plans. The
Charrty has developed systems to monitor and control the major risks that could affect the Charity in the future.
Plans for futurè periods
In the coming year, Trtjslees will ¢onlinue lo explore ways of increasing the caprtal value and investment returns
of the Fund, lo enable the resumption of the financial Support for the School and continued support for the
School itself.
Page 5

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2022
Statement of Trustees. rèsponsibilities
The Trustees are responsible for preparing the Truslees, Report and the financial slalements in accordance wrth
applicable law and United Kingdom Accounting Standards (United Kingdom Geneffj1￿ Accepted Accounting
Praclicel.
The law applicable lo charities in England & Wales requires the Trustees lo prepare financial slalemenls for
each financial which give a true and fair view ot the slate of affairs of the Charity and of its inwming resources
and application of resources, including ils income and expenditLJre, for that period. In preparing these financial
slalements, the Trustees are required lo..
select suitable accounting policies and then appty them consistently.,
observe the methods and principles of the Charities SORP {FRS 1021.,
make judgments and accounting estimates that are reasonabla and prudent.,
slate wh¢lheT applicable UK Accounting Standards IFRS 1021 have been followed. subject lo any material
departures disclosed and explained in the financial slatemenls.,
prepare the finanual slalemenls on the going concern basis Ltnless il is inappropriate lo presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate ¥¢counling records that are sufficient lo show and explain
the Charills transactions and disclose with reasonable accuracy at ¥ny lime the financial position Df the Charity
and enable them lo ensure that the financial slalemenls Comply with the Charities Act 2011, the Charity
{AccoLJnts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for
safeguarding the assets of the Charily and hence for taking reasonable slops for the prevention and detection of
fraud and other irregul8rrties.
Disclosure of information to auditors
Each of the persons who are Trustees al the lime when this Trustees, Report is approved has confirmed that..
so far as that Trustee is aware, there is no relevant audit information of which the charity's audilors are
unaware, and
that Trustee has taken 811 the steps that ought lo have been taken as a Trustee in order lo be aware of
any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, WR Partners, have indicated their willingness to continue in office. The designated Trustees wll
propose a motion reappointing the auditors al a meeting of the Trustees.
Approved by the Trustees and signed on their behalf by..
Mr D J Hughes, Chairman
Dale..
L3
Page 6

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF WOLVERHAMPTON GRAMMAR SCHOOL
1958 APPEAL FUND
Opinion
We have audited the financial slalements ol Wolverharnplon Grammar School 1958 Appeal Fund Ilhe 'charily')
for the year ended 31 August 2022 which Comprise the Slalemenl of Financial Activities, the Balance Sheet. the
Statement of Cash Flows and the related notes. including a summary of significant accounting policies. The
financial reporting framework that has been applied in Ihfjir preparation is appli¢able law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable
in the UK and Republic of Ireland. (United Kingdom General￿ Accepted Accounting Practice).
The financi81 statements have been prepared in accordance with Accounling and Reporting by Charities
PTeparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic
of Ireland {FRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of Recommended
Practice iysued on fj April 2005 whi¢h is referred lo in the extant regtjlalions bul has been withdrawn.
This hes l)een done in order for the accounts to provide a true and fair view in accordance wrth the Generally
Accepted Accounting Pracli¢e effective for reporting periods beginning on or after 1 January 2015.
In our opinion the fin8ncial stalements..
give a true and fair view of the slate of the eharitls affairs as al 31 August 2022 and of ils incoming
resources and application of resour￿8 foT the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted A￿ountINg
Practice,. and
have been prepared in accordan￿ wrth the requirements of the Charities Act 2011.
Basis for opillion
We conducted our audit in accordance th￿th Intemalional Standards on Auditing (UK) IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial slalemenls section of our report. We are independent of the char41y in ao¢ordance with the ethical
requirements that are relevant to our audit of the financial slalements in the United Kingdom, induding the
Financial Reporting Council's Ethical Slandafd, and we have fulfilled our other ethical responsibilities in
accordance th￿th these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate lo provide a basis foi our opinion.
Conclusions relatlng to going concern
In auditing the financial slalemenls, we have concluded that the Trustees. use of the going ¢oncern basis of
a¢tounting in the preparation of the financial slalemenls is appropriate.
Based on the work we have performed, we have not identilied any material uncertaintios relating lo events or
conditions that, individually or collectively, may Cast significant doubl on the charit￿S abilily to continue as a going
Concern for a period of al least twelve months from when the financial statements are aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees wilh respect lo going COn￿M are described in the
relevant sections of this report.
Page 7

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF WOLVERHAMPTON GRAMMAR SCHOOL
1958 APPEAL FUND ICONTINUEDI
Other inlom)ation
The other information comprises the information included in the Annual Report other than the finan¢ial
statements and our Auditors, Report Ihereon. The Trustees are responsible for the other information contained
within the Annual Report. Our opinion on the financial slalemenls does not oover the other information and,
except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion
Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other
information is materially inconsislenl with the financial slalemenls or our kno￿edge obtained in the course ol the
audit. or otherwise appears lo be m8leri211y rnisslated. 11 we identify such material inconsistencies or apparent
material missl#lements, we are required to determine whether this gives rise to a material misslalement in the
financial statements themselves. If, based on the work we have performed, we conclude that there is a malerk81
misslatemenl of this other infom)ation, we are required lo report that fad.
We have nothing lo report in this regard.
Matters on which w& are requlred to report by exceptlon
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us lo report to you if, in our opinion..
the information given in the Trustees, Report is inconsislenl in any material respect with the financial
statements,. or
sufficient a¢¢ounling recorcls have not been kept,. or
the financial slslemenls are not in agreement with the accounting records and returns., or
we have not received all the informalion and explanations we require for our audit.
Responsibilltles of trustees
As explained more fully in the Trustees, Responsibilities Statement, tho Trustees are responsible for the
preparation of the financial slalemenls which give a true and fair view, and for suGh internal control as the
Trustees determine is ne¢essary to enable the preparation of financial statements that are free from material
misslalement, whether due to fraud or error.
In preparing the financial slalemenls, the Trustees are responsible for assessing the charills ability lo continue
as a going concern, disclosing, as applicable, mallers related lo going concern and using the going concem
basis of accounting unless the Trustees either intend lo liquidate the charity or lo ￿ase operations. or have no
realistic allernalive bul lo do so.
Page 8

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF WOLVERHAMPTON GRAMMAR SCHOOL
1958 APPEAL FUND ICONTINUEDI
Auditors. responsibilitles for the a￿dit of the financial statements
We have been appointed as auditor under section 145 01 the Charities Act 2011 and report in accordance wilh
the Act and relevant regulations made or havino effect Ihereunder.
Our objectives are to obtain reasonable assurance about whetheT the finan¢i81 slalemenls as a whole are free
from material misslalemenl, whether due lo fraud or error, and lo issue an Auditors, Repc>rt that includes our
opinion. Reasonable assuiance is a high level of assurance, bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always deled a material misslalement when it exists. Miss181emenls can arise
from fraud or error and are considered mal&rial if. individLJally or in the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the b8sis of these financial statements.
Irregularities, including fraud. are instances ol non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, lo dele¢l material missl8lemenls in respect of irregularities,
including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is
detailed below..
We remewed the sus¢eplibilily of the charitable company's financial slalements lo material mi5Statemenl and
idenlified the principal risks, implementing a series of testing procedures lo provide us with sufficient ¢omfort lo
issue our opinion.
We reviewed the charitable company's regulatory environment lo ensure we could conclude that il ha6 acted in
accordance with the framework relevant to the charitable Gompany and ils enwronmenl and identify any
instances of non-complianc&.
We also assessed the charitable Compantys intemal ¢onlrol procedures lo ensure we could appropriately
scrutinise these ¢onlrols and establish whether our unders18ndin9 of the control environment was sufficient lo
supplement our additional lesting procedures.
The engagement team consisted of a team that the engagement partner believes is equipped with the
relevant level of technical and charitable company awareness lo carry out our work lo the required standard.
Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including
those leading lo a material misslalemenl in the financial statements or non-compliance with regulation. This risk
increases the more that compSiance with a law 01 regulation is removed from the events and transactions
reflected in the financial stalemenls, as we will be less likely lo be¢ome aware of inslan¢es of non-complian¢e.
The risk is also greater regarding irregularities occurring due to fraud ralhar than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A fLJrther dos¢riplion of our responsibilities for the audil of the financial statements is located on the Financial
Reporting Council's website al.. ww.frc.or
.uklaudilorsres
onsibililies. This description forms part of our
Auditors. Report.
Page 9

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF WOLVERHAMPTON GRAMMAR SCHOOL
1958 APPEAL FUND ICONTINUEDI
Use of our report
This ￿port is made solely lo the charills trustees. as a body, in accordance with Part 4 of the Charities
IA¢counls and Reports) Regulations 2008. Our audil work has been undertaken so that we might slate to the
charills Iruslees Ih05e matters we are required lo slate lo them in an Auditors, Report and lor no other purpose.
To the fullest exlenl permitted by law, we do not accept or assume responsibility to anyone other than the ¢harily
and ils Iruslees. as a body, for our audit work, for this report, or for the opinions we have formed.
WR Partners
Chartered A¢counlants
Slatulory Auditors
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
Dale..
WR Partners are eligible lo act as auditors in terms of section 1212 of the Companies Ad 2006.
Page10

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2022
Unrestrictèd
funds
2022
Total
funds
2022
Totgl
funds
2021
Note
Income from..
Inv6slmenls
25,573
25.573
25,961
Total inGome
25,S73
25,573
25,96?
Expendlture on-
Raising funds
Charitable a¢tivilies
1,348
2,656
1,348
2,656
t. 140
7,923
Total expenditure
4,004
4,004
9.063
Net in¢ome before net galns on investments
Nel gains on investments
21,569
9,120
21,569
9,120
16,898
42,355
Net movement In funds
30,689
30,689
59,253
Reconclllation of funds-
Total funds brought foward
Net movement in funds
1,243,557
30.689
1,243,557
30.689
1, 184,3Q4
59.253
Total funds carrled forward
1.274,246
1,274,246
1,243,557
The Slalemenl of Financ(al Activities includes all gains and losses recognised in the year.
The notes on pages 13 10 23 form part of these financial slalernenls.
Page11

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
BALANCE SHEET
AS AT 31 AUGLIST 2022
2022
2021
Note
Fixed assets
Inveslmenls
Investment property
232,777
860,000
223,651
860.000
10
1,092,777
1,083,657
Current assets
Debtors
Cash al bank and in hand
12
3,548
177,921
161, 754
181,469
161. 754
Creditors.. amounts falling due within one
year
13
11,854)
Nel Current assets
181.469
159,900
Total net a55ets
1,274,246
1,243.557
Charity funds
Unreslri¢led funds
General lunds
Revaluation reseNe
14
806.828
467,418
776, 139
467,418
Total unre8lricled funds
14
1,274,246
1,243,557
Total funds
1.274,246
7.243,55T
The financial slalemenls were approved and aulhorised fo
issue
by the Trustees
and signed on their behalf by.,
on
Mr D J Hughes, Chairman
The notes on pages 13 to 23 form part of these financial slalemenls.
Page 12

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
General information
Wolverhampton Grammar School 1958 Appeal Fund is 8 Charity registered in England.
The address of the principal Offi￿ is given in the charity infoTmalion on page 1 of these financial
slalements.
Accounting policies
2.1 Basis of preparation of financial ststements
The financial slalemenls have been prepared in accordance with the second edition Charities SORP
{FRS 102) - Accounting and Reporting by Charities.. Slaternenl of Recommended Practice applicable
lo ¢harilie5 preparing their accounts in accordan￿ with the Financial Reporting SlandaTd applicable
in the UK and Republic of Ireland IFRS 102) (issued in October 20191. the Financial Reporting
Standard applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011.
The financial statements have been prepared lo give a Yrue and fail view and have departed from
the Charities {A¢¢ounts and Reports) Regulations 2008 only lo the extent required lo provide a 'lrue
and fair, view. This departLJre has involved following the Charities SORP IFRS 1021 published on 16
July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended
Practice effective from 1 ApTiI 2005 which has since been wilhdr8wn.
Wolverhampton Grammar School 1958 Appeal Fund meets the definition of a public benefit enlily
under FRS 102. Assets and liabilities are Initially recognised al historical cost or transaction value
unless otherwise slated in the relevant a¢￿untIng policy.
2.2 Going Goncern
After making enquires, the Trustees have a reasonable expeclation that the Charity has adequate
reSoUr￿S lo continue in operational existence for the foreseeable future. The Charity therefore
continues lo adopt the going con￿rn basis in preparing ils linancial slalemenls.
2.3 Income
All income is recognised once the Chaiily has enlillemenl to the income, il Is Probable that the
income will be received and the amount of income Teceivable can be measured reliably.
Rental income from tenants is credited lo the Slalemenl of Financial Activities in the period to which it
relates.
Page 13

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Accountillg policies Icontinuedl
2.4 Expenditurè
Expenditure is recognised once there is a legal or ¢onslruLlive obligation to Irsnsfer economic benefit
lo a third party. il is probable that a transfer of economic ben6fit5 will be required in selllemenl and
the amounl of the obligation can be measured reliably. Expenditure is ¢lassilied by aclivily. The costs
of each activity are made up of the lolal of direct costs and shared costs, including support costs
involved in L)ndertaking each activity. Direol costs allribvlable lo a single activity are all￿ated directly
lo that aclivily. Shared costs which contribute lo more than one activity and support costs which are
not attributable lo a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expendilLJre incurred by the Charity lo raise funds for its
¢harilable purposes and includes costs of all fundraising activities events and non-charilable trading.
Expendiluie on charitable a¢livilie8 is incurred on directly undertaking the activities which further the
Charills objectives, as well as any associated support costs.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be rneasured
reliably by the Charity., this is normally upon nolifi¢alion of the interest paid or payable by the
inslilulion with whom thè funds are deposited.
2.6 Investments
Fixed asset investments S￿ a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured al fair value al the Balance Sheet date, unless the value
cannot be measured reliably in which case il is measured al cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Lossesl on
inveslmenls, in the Slalemenl of Financial Activities.
2.7 Investment property
The 1958 Appeal Fund holds two investment properties which are let out on tenancy agreements. In
accordance with FRS102. the investment properties are revalued annually by the Trustees with the
aggregate surplus or defioil transferred lo the Statement of Financial Acliwlies. No depreciation or
amortisalion is provided.
2.8 Debtors
Trade and other debtors are recognised at the sellltsmenl amount after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any trade discounts due.
2.9 Cash at bank and In hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short malurily
of three months or less from the dale of acquisition or opening of the deposit or similar account.
Page 14

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Accounting policies (continued
2.10 LlabiSities and provlsions
Liabilities are recognised when there is an obligation at the Balan￿ Sheet dale as a result of a past
event, il is probable that a transfer ol economi¢ benefit will be required in selllement. and the amount
of the selllemenl can be estimated reliably.
2.11 Financlal instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basi¢ financial
illslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently
measured al their settlement value wlh the exceplson of bank loans which are subsequently
measured al amortised cost using the effective interest method.
2.12 Fund a¢countlng
General funds are unreslricled funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been desi9naled for other
purposes.
Investment incom8. gains and1055es are allocated lo the appropriate fund.
Critl¢al accovnting estimates and areas of judgment
Eslimales and judgments are continually evaluated and are based on historical experience and other
f8clors, including expectations ol fuluTe events that are believed lo be reasonable under the
circumstances.
Critical accounting estimates and assumptions..
The Charity makes eslimales and assumptions ¢oncerning the future. The resuKing accounting estimates
and assumptions will. by delinilion. 601dom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a malerial adjuslmenl to the carrying amounts of
8ssels and liabilities within the next financial year are discussed below.
Critical areas of judgment are..
Pro
ert Valuations
Al the Balance Sheet dale, the Charity held investment properties with a carrying value of £860,000 (see
note 1 D). The value of the properties are based on an open market value, for existing use basis.
Page15

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Investment Income
Unr8Stricted
funds
2022
Total
funds
2022
Rental income from investment properties
Investment income
Bank interest
22,875
2,692
22,875
2,692
25,573
25,573
Unrestricted
funds
2021
Tolal
funds
2021
Rental income from investment properties
Investment income
Bank interest
23.581
2,367
13
23,581
2,367
13
25,961
25,961
Investment management costs
Unrestrlcted
funds
2022
Total
funds
2022
Investment management fees
1,348
1,348
Unr881ricted
funds
2021
Total
funds
2021
Inveslmenl management fees
1, 140
1, 140
Page 16

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Alla5ysis of expenditure by actlvities
Support
costs
2022
Total
funds
2022
Charitable activities
2,658
2,656
Support
sls
2021
Tolal
funds
2021
Charitable activities
7,923
7,923
Analysis of support Gosts
Total
funds
2022
Activities
2022
Audit costs
Refurbishment costs of investment properties
Bank charges
1,854
771
1.854
771
31
31
2,656
2.656
Total
lunds
2021
AGlivili8S
2021
Audit costs
Refurbishment costs of inveslmenl properties
1,854
6,069
1,854
6,069
7,923
7.923
Page 17

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Auditors, remuneration
2022
2021
Fees payable lo the Charity's auditor for the audit of the Charity's annual
accounts
1,854
1,854
Staff costs
The Charity has no employees.
Trustee5' remuneratlon and expenses
During the year. no Trustees recewed any remuneration or other benefits (2021- £NIL).
During the year, no Trustee expenses have been incurred (2021- £NILJ.
Page 18

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
10. Investment property
Freehold
Investment
property
Valuation
Al 1 September 2021
860,000
Al 31 August 2022
860,000
The 2022 valuations were made by Trustees on an open market value for exislino use basis.
The historic cost of re-valued investment properties is £392,582 {2021'.£392,5821.
11.
Fixed asset Investm8nts
Listed
Inveslmènts
Cost or valuatlon
At 1 September 2021
Revaluations
223.657
9,120
At 31 August 2022
232,777
Nèt book value
At 31 Au9usI 2022
232,777
Al 31 August 2021
223,657
All the fixed asset investments are held in the UK and are held al market value al the balance sheet date.
Pag6 19

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Debtors
2022
2021
Due withln one yea
Trade debtors
Other debtors
1,272
2,276
3,548
13. Creditors.. Amounts falllng duè within one year
2022
2021
Accruals and deferred income
1,854
Page 20

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
14. Statement of funds
ststement of funds . current year
Balance at 1
Sèptember
2021
Balance al
31 August
2022
Gainsl
IL055esl
Income Expenditure
Unrestrlcted funds
1958 Appeal fLJnd
Revaluation reserve
776,139
467,418
25,573
14,0041
9,120
806,828
467.418
1,243,557
25,S73
14,0041
9,120
1,274,246
statement of funds - prlor year
Balance at
1 Seplember
2020
581anco al
31 Augusl
2021
Gain
(Loss&s)
InGoin@ Expendilure
Unrestricted funds
fj958 Appeal fund
Rev8lualion reserve
716,886
467,418
25,962
(9,064)
42,355
776, 139
467,418
1, 184,304
25,962
(9,064)
42,355
1,243,557
Page 21

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
15.
AnalysSs of net assets between funds
Analysis of net assets between funds - current yèar
Ur7restrlcted
funds
2022
Total
funds
2022
Fixed asset inveslrnenls
Investment property
Current assets
Creditors due wlhin one year
232,777
860,OOQ
179,193
2,276
232,777
860,000
179,193
2,276
Total
1,274,246
1,274.246
Analysis of net assets between funds - prior year
Unrestricted
fvnds
2021
Total
funds
2021
Fixed asset investments
Investment property
Current assets
Credrtors due within one year
223,657
860,0(k)
161, 754
(1,854)
223, 657
860,000
161, 154
(1,854)
Total
I,243,￿7
1,243.557
16.
Related party transactions
DuTing the year there were rKJ r61aled party Iransaclions.
P8ge 22

WOLVERHAMPTON GRAMMAR SCHOOL 1958 APPEAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
17. Controlling party
The parent undertaking and ultimate controlling party is consideTed lo be Wolverhsmplon Grammar
School Limited.
Wolverhampton Grammar School Limited is a charitable company limited by guaranlee (company number
6610261, charity numbor 11252681.
The Fund has taken advantage of the exemption within FRS102 from disclosing related party transactions
with Wolverhampton Gramrnar S¢hool Limited and Wolverhamplon Gramm8r School Independence
Appeals Fund on the grounds that the ¢onsolidaled a¢¢ounls for the limited company, which are publicly
available from the Charity Commission, in¢lude Wolverhampton Grammar Independence Appeals Fund
and the Wolverhampton Grammar School 1958 Appeal Fund. They are also available from the Registrar
of Companies.
Page 23