BROIISGROI£ SCIIOOL (a tomp*D)' limlled b>. g#Ar*Dttt) {Incorpor•tin8 Brom$%roie S¢bool Schola￿hIp *nd Pr*ie Fttn(L Davld Il'*l(ers P+lemorl*l I'u#d and I'he Sotltly ofTrrlends or Bromsiro%e School F.ndowTrent Trust) CONSOLIDATED FINAP*CIAL STATEI¥IENfS FOR THE I'EAR ENDED 31 AUGUST 2022 Company Number 4808121 Chariry Number 1098740 Hay5m4ci]¥tyTe LLP (Th8rt¢r¢d ACCOUnt￿ts ReEi5tered Audito iA)ndon BROP*lSGROI'E SCHOOL REPORT OF TIIE GOVERNORS THE GOVERf*ORS Ai%D GOI'ERNL ING BODY IAr Nl Luckni*L {EC. RC} Chairman Lt Col M S B&llard (HC. SC Ch&irof Fkalth & Safety Commillee Drc Bamett Resigned 19 ￿la￿h 2022 Mr C D E CameroA {FPC: IC. SC. RC) Boardins CM)b'ernLY Chairof Risk & Strategy CommiNee Mr J.P Campio AppDintrd 9 Febw 2023 Ptrlrs A E Cleary (SC, EC) Chairof Safeguatdiftg & Welfare Cornmillee Dr D Cunningham {EC Dr C Lidbury (EC. SC) Chair of Educaiion Commillee N4rs J LoyTrlon (BC) Mr D mort￿ {EC) Ap￿l￿ted 3 Oct(thr 2022 Mr IV Roden (IC; FPC} Chairof Inb'¢stments Committee Mr I Stringer(BC) Chairof Buildi￿ CommTilce Mr D R Walkts (FPC: RC: GC) Choimian of Fioan¢e & Pwperty Committee Mrs D Il'aliier IHC. IC MrPIVe Resigned 25 June 2022 MT A J G Willcox Apwin¢e4 3 F¢bnwy 2023 FPC- Mernber of Fitwice & Property CLMnmittee EC- Men)ber of Education Committee BC= Nleinber of Building Commillee IC = NleTnber of Inv¢simenl Commiiiee RC- Nletnber of Risk and Strategy ComTniMee SC= Nl¢mb¢r of S8f¢gu•rding and ￿'¢If8r¢ Commillee HC= fvlemberof Healih and Safety Committee GC-. Member of Goi'emance Cornmitlce CLERKTOTIIEGOVERNORS AND COIIPA%Y SECRETARI, Mr J Somrn¢rvill¢ (Thomas Horton & Son5) HF.ADIIIASTF.R r Nl lknnt NIA IOXOD). NISC. PGCE Ivebsiie: W,￿￿..bron1S roi'e-school.&O.uk PRESIDEIIT Mr S Tow"e CBE DL BRONISGROVE SCHOOL REPORT OF THE GOI'ERNORS {conlIn￿ed) ADVISERS Bankers: Lloyd5 TSB Bank Pl 11211ighSt Bromsgw%e W(M¢s B618EZ SolieilOIS: Veale IV•sbrwgh Owhard Court Owhwd Lane Bri￿01 BSI 5WS Harrison Clark Rickerbys Ellenknrough Houst Wellin8ton Siieet Chelienham GL50 IYD Auditors: Ila)'smaeintyr£ LLP 10 I>Eecn Street Pla EC4R IAG Investment Advisers: CCLA One Angel I￿¢ ndon EC4 3AB Sarnsin & Partners LLP Juxon House 100 SI Paul's Chur¢hyaTd IA)ndon EC4NI 8BV Insurance Broke Marsh L*J 4 Nlilion Road Ha>gYards HeatK W￿1 Sussex RH16 IAII srATUS.IliD AD.111￿ls[R￿TI0& BTomsgTove is a company limiied by 8u&rnniee. ￿)1 having a 5hart c¥ital and is governed by its memorandum and arti¢ks ofasso¢iation. Company Registraiion number. Regi51ercd Charity nwnbcr. 4808121 1098740 Rt8hStered offiry= Ilor¢e￿Cr Road Bfomsgrove vorce￿¢v5hi1C B617DU BROIISGROVE SCIIOOL REPORT OF THE GOVERNORS {Conilllutd) cHAIR￿lA￿'s STATEIIEPIT Following Ihc disruptions caused by Ihe COVID pandemic. Ihis )'¢ar Saw ihe Sch￿1 relurnin8 to normal operations. li was a panicular pleasuff io gr¢¢¢ everybody at our end4)f-)'tar Comrnemoraiiort as il was ihe first lime in three )'ears that w¢ ivere all able to c¢lebrai¢ iogeiher in person. The Swift and sm￿th trnM5iti(w of the back to nonnal has b¢¢n o 1¢51atnent to the adapthbility and hard MOTk of 911 its and the cknarader of the pupsls they iea¢b. ilsl nillch has been ii'riiien alx)ul Ihe impa¢1 of COIqD on ewernal exan3s. it had * signifieanl impatl loo en extra- ¢￿￿1¢￿13r aclivliies, Such an IMr￿rta￿l part of life ai Bron1$8￿¥¢. Many aciivities - S￿rting. culmrdl. and cornfflunity based had been se%'efel) disrupted. Thc Tcsump¢ioll of the fvll cilendar of extrn-curricular aclivilies ihat are y) important in our pupils'educaiion thas a real mileslone. The 5rhool also Iwk ih¢ optmxlunit). from ihe yandemi¢ to del'elop new of Morkin& The inirduction of our online offering ind the creation OC our GuArdtaA Angels progranme are Nvo examples lh￿ are likely io endure. Thc l#Ner pro*'ided accomniodaiion and pasiornl CaT¢ for pupi15 during half ienns *nd seFthx)l knlidays has been • great sKcesS. No ￿0fter hod S¢hool life raurned io DQTmal then we were wilh the consequences of the Ukrainian ￿'ar. In a Sch￿1 wilh a signifEcani and div¢￿e commuDiry, our pupils hal'e been magnificcnt in ihe way ihey have supported each oiher durbng these difficuk tllllC5 and it says mu¢h for iheif opewi-miDdedness. ¢mpathy. and of cha￿¢1¢1. That dIV￿51ty too is a ceuse Celebr￿10Th WMI tht Sch￿1 is very focvsed on creaiing •n ¢nvironmen¢ in ivhidl eich or ils teachets and pupils feel accepied and ¥alued. and where their kndividual ￿'t11-beIng is ofpaF*nouMi IM￿rtan¢¢. Wilh the ￿turn of extem•l examinalions. l #rn pktted to reF￿ excelleni re5ulis oct055 GCSE, A ix%¢l. IB BTEC. In all case¥ Ihe overall resulLS Mrre higher ihan ¢he pre-pandemic12vtlJ. 11 15 a t¢518menl *) all who 5UPVt and to the S¢hfy)l and help build its reputhtK)n - sthif. 8overnors. paTents d pupils . th811 ¢8n r¢port ihat the Sch<￿1 roll is up for the new a¢ademi¢ year and thai the Sch(K)l is in a sirons rinanctal p)sition in an in¢reasin8ly ch8lltn8ing cni'ironment. l iiould like to ihank pcr50nally Peier Clas￿, our exiling Ileadn785ter. f(f his outslandiwB leadership of our four S¢hty)Is over the pa51 eighi )eaTS. He i'ery abl). kd the Sch￿1 through the COVID pandemic and l¢av¢s it in a verj. slrong silion. I V•(NJld also lik¢ io wekome Nli¢hael Punt a5 QUT new Headmaster. thr uvanimws choice ofall th05¢ involTr#LMI in hi5 5elECtion. l am confidtTr¢ th81 th¢ S¢hwl will go fnNn stren8ih 10 5tren8th underhis direciion. BROIISGROVE SCHOOL REPORT OF THE GOI'ERNORS {Cothilthued} The Dire¢iors, ￿110 are Ihe Governors of the SchoDI. present their annual rewi for ihe ytar ended 3 l Augu512022 und¢r Ihe Companies Act 2006. foBether *iih ihe audiied financtal sthiements for the )'ear and confirn) that Ihe financial Statenients eomply with the reguiremenls of ihe Aci, Ihe chArity'$ 8OVtrning documenL ¥pli¢able law and Ihe &aiemeni of R¢conimen¢kd Pr8¢lic¢- Acwuthiing and ReportinB by Charities applicable 10 charliies preparing iheir aeethjnls In A¢Lwdan¢e wilh ihc Fillancial Re1X￿11￿8 Standard &ppli¢able in ihe UK Republic of Ireland IFRS 102) (Second edilion. effective l JanuAry 20191 REFEREPICE AND ADlll%I ISTRATIVE IliFORNIATIOY The se1￿1 *as ftyjnded in 1553 r¢-foun¢kd on the cuffent siie in 1693 by Thornas C(M*es. Bmms8rose School wa5 one of the originul fourteen members of the Ileadm•slers' C'onfrrence (HMCI when il was founded in 1869. The Pte. PT¢P8r8tory ond Pr¢paratory Schools art ￿c￿11cth rtTrtury fswndall￿s. The Sch￿1 wag in¢orporattd as a comp8ny limiied by guwantee on I September 21yI3 yjxl¢T charity number 1098740 Ènd regi￿tred iY)mpany n￿mber 4808121. OBJECTS Al￿15 AliD ETIIOS Chsrlllble ObJefts The objects for whieh the Charity is established ￿ lo *lvanc¢ edw*Tron and irdining by the pro¥t$ion 80d conducl in or n¢ar l¥'oTce5tershir¢ of any day and E*)arding school or s¢hools for k*)'s and girls. The Charity pT0￿deS edwalion on t1￿¢¢ sile5 ir• wor¢￿t￿h1[¢ k) b)ys and girls from th¢ age5 of 2-18.The Charity also Pfovid¢s Iiurser). ¢8re ot th¢ Il'inierfold siie for babit5 agcd 6 w.ceks lo 2 )'ears. li is ihe policy of ihe Sch¢)ol to provide a rirs¢ ¢18ss education, Mhi¢h idelllifie5 and deb'elops the wt¢ntiBI of individual pupils in • variety of arcas. provide5 them wilh the best achievable qualificatioffls and prepaT¢s th¢m for their life. Airn$ The Charity constanlly aim5 to provide a first class edtyc*w)n Ind girls from tht aBe5 of 2-18. Vithin the obj¢¢is. the SthoDI iims to PTr4Juce ￿py. ¢r¢¥ii%e. mornl ¢iiiz¢n$ who livt moiivakd. fulfilled li%'es while enri¢hing the lives of others. The Schr8)l $￿kS to xkieve this thfough an cnlighkned. disciplbn¢d bn)8d educat￿)n Ihal rtswids to global change Mthile relaining core values. The Lxyrt **lues thAt ihe Sthool seeks lo foskr in 1¢$ PUPI Humility and conf￿¢￿¢¢ Res￿1 and Curiosity Comp￿s1On and Ambition Tolernnce and Vision Eiho$ Bromsgrose SchrKJl is commiiied to safeguarding and pron￿11￿8 ihe iielfare and Mtllbcing of 811 pupils. The Sch￿1 is proud of Ihe sirong p￿oral care provided by the House SIrncl￿rt in ihe Senior Schwl and by the form iuiors iviihin the Preparatory and Pre-prepardiory Schools. The Schwl has A ¢¥in8 til￿. which is rtnrcied in all of ih¢ S¢hty)1'5 policies and pwcedures. lthe ScTr￿1 mainthins regular contact with parents ihnwgh nemsletttts. social media. infornial me¢iin8s and rcgular repoTIs. The Govtrntsrs •re wmrnitted k) the long standing prithcipk charities rnu￿ exist for the bencfrt of the public and ha%.¢ a 10Tr8 ¢radiiion of proi'iding public befiefil. both thmugh educaling pknpils 8¢ the S¢hool and ihTwgh a55ocialed aciivilies for the bcnefji of the Mider wmmunity. The G￿.emOr$ are commirted to wtdcning access lo ¢h¢ S¢hfy)I ¢n5yre Ihai Children ￿h0 could oiheFMise attend the Scknl can btntfii from ihe educaiion bi p￿VIde The SchoDI's eiho> 15 to wrkome pupils fnKn all b#kgA)unds. Enirance assessments are undertaken lo salisfy boih ihe S¢hwl 8nd the PaT¢niS thal prospedibe pupils can cope wilh ihe pace of learni￿8 and benefbl from Ihe bitadih of the edu¢alion ihat the Sch(x)I provides. An individu•l's economic stslus. gender. ethnicity. Stxual OriEntatioD. ra¢e. religion or di5Rbility th) not fonn part of the ass¢Ssmeni PTocess. BROIISGROVE SCHOOL REPORT OF THE COVEIL%ORS (Coniliu¢O) 0￿EcT& AI.IIS AND ETHOS (Coni1TrU￿) Th¢ SchiK)l 1$ part of a wider community a￿4 bas a lon8 hi510ry of olYerin8 • rdrnge of educational a¢livilies for ike ben¢fil of Iixal childrtn. The sch￿)1 a¢¢iviiies and acce55 to the SchTrA'5 r￿lI711¢s ￿ provide oppwnmiiies for children other ihon pupils ai the SchcK>l to btneflt from the charity. Ve ￿ Very PToud of the Brrxnsgrnve Sclwl Swim A<￿eMY *thich Provides swimming le$￿Th9 lo 1,100 ¢hildTeTr from the local wmmunity. The SwiTner Sclwl for eighi ii¢¢ks in ihe Summer holida)'s and ihe Tennis A¢ad¢my are also op¢n to l(Kal childTtTr. IAKal primary schty)ls use the swirnming rAxJI for weekly lessons ai no charge. The also Continu￿ to reach (wi to local children ihrou8h a iiide rnThge of aciii'ities includin8 the ￿ttkIY joini Orchestra Group where • number of local Primary Sckn15 tome to Broms8rove tr) rekearse ￿ether lo the niany local Sports C]￿bS and Associations ihai ihe School's sports f¥i141ies. BMrs*riei Ind Seholarshlps The kh¢y)l 15 committed to ensuTing ihat thert is wfficitnf op[K￿l￿nitY lorthildren whose parents cannot afford ihe fee5. in¢luding thos¢ in p)verty, to benefii from its educational s¢Tr'ices and fachlilitk The Governors and ihe School ma￿￿eMen1 regUl￿tY review the S¢hool'5 Public Bcntfit Poli￿ &% part of the on8oinB des¢loprn¢Dt of ihe School's strn¢egy ¢0 widen atcoss. The G)vernors are con)miN¢d to Tuming a means.tcsltd buw scheme dir¢cl ¥c¢esS to ihe educational smices providcd. The scheme is destgn¢d 10 455151 pw5pecti%'e pafents ar￿ exi51ing pamils on low incomes ivho for rinanciol re8sons might othcrwi5e be unable io serhd or con11￿￿e to send iheir child io ihe School. The bursary s¢heme ificludes Admissions bursarics ihe paTtnlS ocmew pupils at)d Hardship bursarie5 for partnis whose finan¢iol posiiion wors¢ns unexpectedly. Admissions bursaries includc tK)th life thttnging bursaries (75 /•- IOOY(*) and I0￿er a￿ardS for familie5 ntedM8 frt ￿sIS￿M(¢. Bursaries are eniirely mearbs lesled and are a￿￿[ded OTh aTr bfjsis lo parents 581isfy ihe fi]wi¢ial criteri& set by Ihe S¢hc4Jl in reliiron ￿ their inc(*ne and (he vAlue of ih¢ircapithl assets. The S¢hool h85 a Bursary Poliey, which is available w boih prospecti%'e and exi51ing parenls. lThe policy x)rtion of its ¢ot&l income in each fin&nrial year lo rund thc bur58ry scheme. The Schwl's Cu￿¢￿1 aim 55 lo •llocate not le5$ thoth 5°/• of ils iotal inwm¢ in ekch fmarKiAI year ¢0 fund ll￿•￿5 Ic5tcd bwsftries. The S¢h(K)I"$ scholarthip awards recognise high Academic pNeniial or ihe abiliry io excel in co-curricular aeii%'ilies. Scholarships are Awarded M'iih a fixed remission of beimecn 2.5Yo artd 5%. 11'here further assisianc¢ 15 requir¢d, a meaTh5 ed bursary rnay supplemtrf seholatship awards. BRO￿lScRol,[ SCIIOOL REPORT OF THE GOVERf*ORS (Contiuu¢d) STRATEGIC REPORT CURRENI T YEAR PERFOR￿lAN1 CE REVJEIY Prifjcipal Atti%itiu Of ihe Yt*r At the end of ihe )ear. we said famytll 10 Nlr Clague. Ihe He4dm&5ter of BromsBTove SchrK*l. Mr Clague h35 provided out51andinB ler•J¢rship over hi5 5evcn )ear5 of seThice. A5 * mu¢h resP¢rted H¢8Jmasier. Ihe S¢l)LKII community expre55ed their Braiitude * Comrnemoralion to l4r ond Nlrs Clagye and wish¢d them knell in the next chaptrr of thcir livtL Ikspiie exiernol worldwide iensions ar￿ economic pressures. the pupil mll has remaiTr¢d stn)ng ihroughoui ihe Ye￿ and it ivas ple4sin8 that only a Y¢ry Small llumber of families left Ihe School. In ihe summei iemi. the roll stood At 2.￿1 Ipils (2021.. 1.956}. The Senior Sch(xA edwa¢ed 1,01 I pupils (2021: 985) of whom 465 (2021.- 4761 wrrt boarding pupils- lh¢ Pr¢parntory Sch￿1 edu¢aied 524 pupils 12021= 521) of ivhom {2021.. 80) w¢re toordin8 pupils: Il'inierfold House edu¢aled Ml pupi15 (2021.. 271) ihe Pr¢-Tr¢parg1(*ry Sch￿1 ducatd 176 day pupils12021: 179). This ye3r, ther¢ has been a coffliinued focus on widenin8 acttsl The %al¥e of means tested bursaries including Ihe h&rdship byrsaries amounied k) 5.1 /• of in¢ome12021: 5.4%). The eh&rity a150 providcd ftt assistance in ihe forni of seholarships and Irffted forces discounts. The Value of such addilional assistanc¢ ￿h¢￿ added WJ means ksied bursaries represented 9.3•1 ¢f*of the ¢harity's lolal fee iffjcome. Of ihe 2,001 pupils educated 81 Ihe sch¢x)1, 530 p￿p]I$l2￿/0j receil'td some degree of financial assistance in ih¢ forni of bvtsarie¥ scknlw5hip5. armcd foTCeS discounts ?TMI stafYdi5wunts. D¢5Plte prtssurts on th¢ Fwdg¢¢ for the fr)nhcoming yew. the hA%'e co]￿lnut￿ ￿ 5UFPlrt buwies and ha Breed an annual I￿r52ry l￿dget for 202212023 amouniing kn s.￿A of ￿tal fee income. Despiic the uncertainty rtgarding the national public exarns. Ihe S¢lKJoI WJS proud ￿ publish ihis year's academic resuks forour pupil5. At GCSE 46.6°/'O of en¢ric5 11.cie gradcd 918. and 65.l•i* scored 81 least a 7. trfAh high *at¢m)arks RY Bromsgwve cohorts. lrt 2019 Ihe avera8e w)inl per GCSE tnlry *is 7.0. in 2022 il 7.1. In ihe Upper Si¥th. Ihere ￿¢1¢ 221 candidaies iakin8 a mixlure of IB. A le%'els And B7EC qualifKalions. At A le%rl. 18.3D/o of eniries achie%'ed an A• (14.5% in 2019. 11.1•/0 2011). The A*IA rate H'a5 53.1% (47.70/0 tn 2019. 42.6•/• in 2018). The A•￿ rate in 2022 of 77.8% wa5 fr¥tionally higher than the 75.SVoof 2019 and 75.Ph Khieved in 2018. In ihe IB diplom4 55 IB sbJdcnt$ 8YCTagcd • SCI￿1 Tecord 39.3 Jx)in15. Of178 Higher Lei'¢l subiecls spt. there ￿ere 79 x 7s arml 78 x 6$. 11'iih UCAS equBlin8 8 7 to On A Level A. and 8 6 to • wd¢ A, Ihe 7 IA. rnt¢ for the IB cohort ￿1$ 44Vo. the A• A l 7-6 rate is 88•/0. All sludents passed thcir o%'trall Dipkn4 30 $ludents {5517/(4of the c(short) scored 40 or more tA)inls in tothl. whi151 three stud¢nts achieved ihe ￿Ve1¢d full 45 points. In BTEC qualificalions 78 enlrie5 saw IS Di5tinclÈon*s bring achieved *thber wilh a fimher 25 IXsiinciion& Of ih¢ 125 tsk¢n. 48 were awardd an A• and 54 an A with virtually all the rtm8indtr Baining a B grade. Our leavers headed off io a widt TaThgc of top univetsilies tn the Uniied Ktngdorn and al0￿d ile *orld. gained their fir￿ ¢hoic¢ Uni%'ersit> pla¢¢, 12 10 Nfedicine or Biomedical dtgrees. 29 10 Business Felaied de8rLY$ 20 gAined Inlernalional Uni%'ersity ploc¢s ￿ co1￿Mbl￿ UCLA, Tott)nio. BCU. IIKU. IE in m￿r1d and knoni in Nlilan14 wilh scholatships). Two of our pupils ha%'c A￿VCd inlo hi8h quality apwenliceships at BAF. •nd Bar¢la>'s and one inio arniy ursing. Fift¢eTh pupi15 hAse decided to take a gap ye¥. In recent y¢8rs. Ihe educa¢ion oCth¢5e c(kn been seieiety di5￿pIed by fac10￿ iw.l￿d their cort1￿1 wilh a naiional lo¢kdown. I￿￿1 qllwanlin¢s and th¢ nc¢d ￿ work online. All subject texlThs and pupli s deseThe gre￿ credit. Improi'tniefils made in ihe use ofdisilal technolo8)' when resFK)nding ￿ the pandemi¢ hai"e infonned several ¢hanges digital slralegy ihis )¢ar. ￿'11h1n ihe Ser+ior Scknl, All pupils are now required io brin8 theirowm devices in io Sehool ond oll ieachers hai'e btrll proi'ided iviih ntw digital device5. Pupil learning ka5 been enhanced as iea¢hing r¢50ur¢es are 5harfd niore effici¢nily f¢¢dback is more elTeciive as li is pupil specifK and prc*nw. A fwthtr*im has been io ISSISI the pupi15 in d¢belopin8 8(& IT skills and improvin8 ihririYgani5ational sk"ill5. BROI4ISGROI'E SCHOOL REPORT OF THE GOVERNORS (CoTrllnu￿) CURREIYT I'EAR PERFORNIANCE RE￿.lE1v (ConliTrued) Despite con¢ems aboui the impa¢t of the pand¢mi¢ 00 the twrdhng market. IK)ardin8 numbers At BromsRroi'e remain ery slronK. Ive are particularly pleased ih* there is a strong dtmand for place5 in our Prep Bo3rdin8 IM)Ltses ivith boarding n￿MberS inereastn8 from 80 10 IIX) irt ihe )"ear. An exiension io ih¢ Prep Boardins House on Conway Ro*J iva5 completcd in thc )'car to tnhancc the tommunAI spaces 10 irnpMN'e a¢¢¢ss ￿ ihe staff ottornniodation. The Go%'ernors reco￿15¢ the imwrlance of ¢nsurin8 that all of our i¥MTding knu5es are I￿aIntaI￿￿ it the highest 518ndard &nd are committed aTU)ual wlling iK)aTding refi¥bishm¢nl pwgrnmme. In the >'ear, th¢ extensive r¢furbishm¢nl of th¢ WettdtoTr Gor(knN knrdin8 house conlinued. The howse ¢ommw¥ity ￿¢ very pleascd M'ith ihe furbishmtnt which ha5 provided en5Ulte facilities in all rcN)ms. new furniiure. new decor and ellhan¢¢d Comnlcffl Room, kitchen and laundry faciliii¢s. This project has a150 addrtssed suslain&bility airns by si8nifieanily impro%'MI8 ihe ihennil ptrfomiance of ihe buildins ihrou8h the installaiion of new thwble glaze41 w'indow ynits aThd T￿r insulat￿n. In ihe )'ear, Ihe Governors have a150 invested in ihe ¢ar park'5 at Imyih ihe Bromsgroi'e Preparatory School and at Winterfold House sch￿1. Thc PTOiCCts haTh'e provided •thJilion81 Phfking spac¢s 8Dd improi'ed tK)th sil¢ Safety and security. In addilion, one of ihe Senior sth￿l a5troturfpii¢hes w09 refiJtbAshed with th¢ inslaltaiion of8 new carpel. In the lasi decade, the Sc1K￿l Muired ￿ adj￿1 si* housed the Bn)msgrovt To￿Tr Poliee Siaiw)n. Afler se¢urin8 plannin8 pe￿ISSiOn. the Go¥ernots agreed 10 demolish one of ihe lilo buildings. In the )'¢ar. ￿1)Ik h35 commenced OTh building • new Tesidential property on thc 5Lk forthc Prepar810ry SehtsA Ileadniaster &nd this family. Thc GoYcrnor5 and ihc E¥e¢¥lii¢ #re commill¢d io improving ihe Scknl'5 ¢arl*)n Sx>lprint. The lables beloiv 5hoi¥ ihe key m¢lrirs thlt are being rewrted for StrrdmliNed F.￿r￿gY and Ca¥tKin RttM)Iling in the fiThan¢i81 y¢ar¢nding 31° August 2022. Surnrn*ry Dali for FY Ill S¢p¢¢rnbcr 211• 31¥ A￿&￿$t 22 '*lue Tr￿1 Energy Use 9.74J.154 kllTh TL4al Greenhouse Gas Erni5sions & %olthrW) 1,283.92 ￿02 T(4al &udents 2,001 Inlen5iry Roiio 0.64 tCOI per student Are8 01 14asurement FY l* Sept 19 to 31'A 20 FY I'sepi 2•10 31°A 21 I, J°Stpt21 to 31M Au 22 'Arlanee ¢0 reTrious 'tar Energy Use 10.927.3 12.196.1 9.743.2 Mllffi 20.1 /• deerea5e Greenknu5e Gas Emissions 2,157.73 ￿02 1.7572 ICO2 1.283.9 deerease IDlen5ity Ratio 1.11 ￿01 SttEdeni 0.90 ￿0? per 0.64 IC02 pcr siud¢p¢ decreAse li is clear f￿rn the above ¢ablc that iher¢ has Ixen a deeTea5e in emissions from ihe 2020121 to 2021r22 Jear as a re5uh of boih wamief winier iempernnjres and the implementalion of cntrg> efficient projects. The large￿ saving has been obscr4.ed on 8ts eonsurnplitiii i*jth the 3,IOOkWh per Degrtt Day con)pared kn 3.530kllth in the 20121 year. The s'8r*)us pmjects impkmented this year include LED lighting UP8Tades in St￿.e￿I building& a new air sO￿r¢¢ heat p¥nip at Elm5huTSt. 501ar then￿al tubes in*lled ai II'G, insulation and new glozed window units Illslalled ai Il, further IBg8ill8 of pl&nt and improved BNIS control of 7n6ofihe kho)I's I￿1]ding5. BRO,%ISCROI'E SCHOOL REPORT OF TIIE GOVF.RNORS (Conlinu¢d) CURREiYf YEAR PERFORII IANCE RE%'JEIV {C•ThliTru¢d) inclusion revÈew was uThdertakeTr in the )'ear in the Seniot Sch￿1 which soughi views of wheihtr pupi15 of differenl gender, race and sexwaliry feel included within aS￿ts of the Sch The Goi'emors are eommitted io wÈdeninB acct5s through the Sel￿1.5 ¢xlensi¥e bwsary wogramnie and a150 by d¢s¢loping links w'ith th¢ I￿?7 community by t*xh ensuring ih* our faciliiies att available for use *rtd *lso by en8a8th8 in ouirea¢h prosrammes to supporf local S¢1￿1& ￿11 children and local eharilit5. The Brom58rov¢ Sch￿1 Swirn and Tennis Academies we sw¢¢￿r￿11Y providing SWbmminB and tennis lessott$ lo 1.100 younB childr¢n in the t￿￿1 community. In *ldi¢i(w. the 4￿rtS facilities at iK)ih the Senior Scknl and l%'inlerfold Siles ha%e beern used regularly by k*al fO￿ball. hockey. tennis. neiball and badminton leams. Ive ha¥¢ 8150 hosi¢d lh¢ Vorcesiershire Seh(K)l Games and & Cricket Fe51i%'al this summer. In additÈoJ4 i¥¢ were very pleased to hosi ihe Birniinghani R￿kets ba5k¢iball r¢sideniial 8TOUP, ￿lI1d1￿$ new lifflks and sthariTh8 our Caciliiies ii'ith dhildrtn frorn acro&8 Bim)inghoni. The GoveTnof5 a150 very pleg5¢d that the wmmunity. aT¢ ￿nefIttIng ffom ihe use of ihe Arts facilities. An increased number of local ¢hoits. or¢he5tras *nd dance gTVUP5 have used the fxilities in the yeu. A hi8hli8ht of ihe }'¢ar has been ihe hosiimg of a local Orchestra Group each week wltich includes pupils fftNn Èll of th¢ I￿01 primary schools. The SchoDI also hosted ihc prtsligio￿s Brom58ro¥e lfftiernaiKTrnal F41ust¢ Competilk)n in Nlay which was enjti)ed by many rnernbers of the local conimunity. in person and ihrough live streaniinB. The Sch￿7 is also deli8hied io hol'e d¢¥elop¢d o i'ery 51rong r¢laiionship wilh ihe En8lish Symphonic orche￿[4 will be u5in8 ihc School for niany junior tnd intermediaie residcnlial orrhe5tra cour5ts in the future. A local theatre group. All and Sundry Pr￿1￿clI0￿5 perfomied C*rislm85 P8nlomine forihe kK41 communiry in the Scknl iheatre. Iviih regard w community outreacm our pupils as part of Broms8Tove Service Ind CAS h•ve ¢n8aged in a larg¢ numb¢r of eommunity projecis. These iticlude %isits ￿ kKal nurseries and residential homes and roising funds through fundraisinB e￿ents for local charilies including ihe Basement Pwojeci and ihe Primrose Hospice. In ihe yeAr, the School has •150 provided SUPFK)rt io warioiis wjeeis oulside of the SchoDI in ihe local ￿mmUnIty. These included contributi￿8 to the new BTQM5groi'e lo%*n he* neTh%oTk projwl and ihe mainienance of ihe e¥i¢rn&l facililies ai Ihe R>.]8r￿ C¢ntr¢. The S¢lwl lakes prid¢ in ensuriDg thai $UPW￿l¥¢ relationship5 t¥c maintaiDcd ivith all of the S¢hool'$ 10¢01 suppliers and ￿nIta¢10r* All supplier pa)'ments are made promptly and the Sch￿1 has w giM)d repulHtLOII. As iviih academie bttadih. Ihe khcK>l conlinut5 lo pride itstlfon a V¥4￿ co-curri¢ular progrwnme a¢ross 4 ￿.￿de rnnge of stp)rtin8. culiural and s¢ryice adiviiies. Our pupils tsk'e enriching Op￿￿￿Tri11¢s seriously and partieiPAie wilh enthusitsm ond eni)ymtnt. There *e currently 347 clubs and xtivilies on offer. Brom$g￿N't Badg¢ has given the Lower Fourth pupils the Op￿tUnity 10 cnioy highlights such a5 Ihe Mal&ern Walk. and the recent r¢sideniial camp ai S)monds Yai as ￿¢11 A5 sessions ai School on ieam building. cr8nin8. navigaliott. orienteerinB. healihy eatinglcooking Jnd problem-solving skills. The Si¥ih Forn) enrichjneni progrninme had a successful year. ineluduL8 self4efeRee and de-escalation ttthniqtte& first aid 5ttrAr1￿. cookingon a budgei sessions and mgny niore. Nlumbers in the Combined Cadet Force have risen sharpl). ￿ 420 this >'ear. There hhi'e been several successful field days. tnjo)able Mtek's residential ¢amp ID Novemb¢i and sctrernl d#Js ai the ￿nge. The Duk"t of F.dI￿burs￿'S A￿ard ha5 re￿rned io • full ￿hedule of expdilions ihis year. Pupils. engag¢menl in the different sections rem8lb)S fanta51ic. ￿'￿th a ￿'ide range of ph>5ical a¢iiviiies and skills. BROIISGROVE SCII(K)L REPORT OF THE GOI'EILIORS (Cottil*ued) FILIAICIAL REVIEIVAND RLSULTS FOR THE YEAR FlnintlAI Perform•n¢e The Schwl achitved ntl inCOTnC before inv¢swneni (lossesy8ains of £3.391k. which is £76k lower thgn the prK>r year. This perf￿￿?￿¢¢ 15 J15Q WllSisknt with the School's bwjgtt forthe )"ear. lth the year. nei fees in¢re85ed from £34,772k 10 £37,927K an inercase of £3.155k IW*). A significaiii coniribulinB faclor to ihis inereAse is ihe inipaci of ihe fee remissions awarded in resp)nse to ihe sccomd l(Kkdown in the prior )'ear (£1.637kl. Afttt allowing for this exteplitsnal impa¢i. Ihe wderljing gI0￿h is an iD¢r¢as¢ in fee income of 4V.. This i5 due to a 2%gro￿h ifft PLyiI numbEf5 arrD5$ the four SclTh)l$ and a YA fee in¢￿￿5e. The Sch￿1,5 tr￿lIng and other income increased by £1,151k in ih¢ )'¢¥. li %¢ry ple85in8 to see ihe relurn of our Intemalional Summer SclMx>I. (wr revision cour5e5. (w Academies at)d the Cricket Fesliw818fter the pandemie. In Ihe )ear, there was also a significant hncrtase in new kiiings for ihe Swrts. Afis and Ix)arding fa¢iliiies. In the prior ye¥, a signifi¢ani •mouni of dlxr¢tion￿ and non-eS5¢Tr1ial expendi￿re Ms cancelled or dela)ed xhicving 51 saving5 of £1.400k to offsei the fce rcmission awarded io families in ihe second lockdowi. Tol81 Schwl exp¢ndilure ha5 Iiicreastd by I￿/¢ in the year bvl after allowing for ihese exceptional cost savings ijb the prior jear. thc undcilying incr¢a5e in expenditure 15 7QA. The conlribuling fack)T io ihis in¢r¢45¢ is staff imcrta5in8 by 70* Ill the )ear. Th¢r¢ have b¢¢n v8rioy5 ¢Xt¢rnal emplo)ryneR¢ changcs including a rhange in holiday pay 8rr•ngemtnls for p8rl }e8r workets, the IO¢Te8se in the nalional minimum *age and the introduction of ihe Fkalih & So¢ial Care leNy. In addilion, Ihewe was an annual pay amard of 2.OV•, the Sch(xA incurrtd high teachiM8 to%*r eosis in the )eardue io g feiv long terni absences. Our Iradirt8 subsidiary receil'es Ihe frdn¢hi5e fee froni Brom58roi'e Inlernativnal Sch¢x)l Thailand and NIi55ion Hills. SheThFthen. These fc¢5 were recci%rd in ihe year Ind ih¢ CoMp￿Y able lo ￿￿trIbUte £384k io klKxyI fvnd5. (2021= £165k). Bromsgwve Sch￿1 Fouftdaiion g¢n¢r¥ted net iDcome befo￿ inThtsth*nt giins of £62k. durin8 the year ended 31 Augusl 202212021.. £486kl. The impmsed perfornian¢e in 2021 H*5 due ¢0 a thnation of £402k from the Broms8To¥ian C lub in lh¢ forni of a Iransftrof invc51mcnl5 following the ¢losur¢ of Ike Club. lthe Troundaiion rrf¢ivd hyo lega¢y donalions In Ihe year. Unless, donations are restri¢*d. Ihe fihnth raised will ￿nIribute to buT5ary a￿ardS ￿ wpils of Bromsgroi'e Sch￿] in the fuiurt. Th¢ Sch￿1.5 inveslments decreased in Yalue oN'er the year as sto¢k mark.ets around the ￿Orld ￿5￿1nded io V+orld iensiorts and the delcrioration in ¢coThomi¢ outknk due io innaiiotsary pregSUTes. The School's invesin)enis fell ii) Ihe period by £438k, an OV• decline. The net cash infloiy from oper4¢ions during the year amounted to £6.498k compartd ￿ £5,907k in ihe prior }'ew. The net inconic before anvesimtni Bains adjus1￿ for dep￿CIR110￿ amouDt¢d to a c&sh infl(￿V of £5.154k. There ha5 bcen ca5hflow b¢n¢fit due to the limillg of pa)rnents to Contr￿¢0[$ for M'oth"s complded in th¢ summ¢r holi(18ys but Dol paid until Sepiemkr{£168kl. Th¢ S¢Frt>ol's ushflow h•s perfonned in line wilh the School's proje¢lion. In 2021. the Goi'etne¢s w'iihdrew from the TextheTS Penston Schem¢ ITPSI on J phased b￿1$. An aliern&livc Defined ContributioTh Il'oTkplace Pension Scheme ha5 beeTr inirodu¢ed for all ieachefs joinins ihe S¢h(KJl froni I Sey¢mb¢r 2021. Teachers emplo)ed at 31 Ausu51 2021 ha%.¢ Ixen offered the chotce of remaining in Ihe TPS or iTansferring io ihe Schwl'5 ntlv 5chtrne. Wilh the risk of fui¥ie increased emplo>'¢r ¢ontributioDs lo ihe TPS. Ihe Go)'ernors h4%e tsken th55 lion lo prvt¢rt the long ternb financial viability of the S¢l¥J)l. BROIISGROVE SCIIOOL REPORT OF THE GON'ERN'ORS FIINAN'CIAL RE%'IEI%' AI%D RESULTS FOR THE I'EAR (Conlinmtd) Insestment Policy iod Perfomatt The Governors are pennttted to hold a rrt)rffolio of investments. Th¢ guidance given 10 ihe In¥'esiment Ad%'isers with regard io equity invesimenl is to balance 8To%4ih and income wilh • medium le%'el of risk. Thesc objecli%'cs are lo b¢ &chieved by inie5ting prudeHlly in a lyoad range of fixed inle[e￿ securilies cquilics ivhich are quol¢d on a remenl opiM)n5 and the hardship bursar). fwid. However. V4"¢ ha%* concmis ihRt A longer period of un¢¢rtainty" could lead ￿ some families Treeding io wiihdrnw fMI ihe School for finan¢i*l reasons. We i¥ill ¢oniinu¢ lo moniior ihe siiuaii(ffl very ¢%￿ly. Th¢ second concem 15 the irnpacl of inflalionary pressur¢s on th¢ SclKKTrI's b•se. The Bursar and ihe finaTrce teani are moniiorins ihe siiuation and weparing regular cashnow fOrtt￿$. A caulious approxh will be adopted kn'iih regard disrretionary expenditure and adcqualc cash ￿￿rYCs will be maintained. It is likely ih•t 5oJne ry)ital develOp￿t￿t projttts ￿]11 be dela>ed until thcre 15 more certainty 8lx)ul th¢ economic fotec&st. A dttlirtt In lllieTnational bo#rdin& A key risk to the sch(￿ is a reduction in the twmber ofEx)ardus result¥n8 ilb a Mhjciion in the Sclhool's fce income and COll5equential pressures on cash Ik)w"5. Ilthilst the pupil n)11 at ihe start of ihe 202212023 ￿&￿eM[C )'ear is excellerkl. ihe Sch(M)l is concerned the longer terni imp￿1 of Morldwide ten5t￿tS on ih¢ inlernalional ￿￿rdIng Community. Il'e have a number of mitigation str8te8ies IA place io¢ludiftg cootinuall) assessing Dew mwk'ei opwJnJniiies and supponifflg exisiing ageni relaiionships ihroush edu¢aiional iniemaiional evenis. Il'e will also sttk &) %'crnor5 are preparin8 for ihe challtn8es or r￿SiblE chan8e5 in sovernment ￿lIcY re8ardin8 Charitable Sla￿5. includin8 ihe PKJssibility of ihe inlTodu¢lioTh of VA T on sch￿1 fees and higher business iaies. 12 BRO￿l5GRO1'E SCHOOL REPORT OF THE GOI'ERIORS (Conf5Rued) F￿uRE PLANS The Goi'eTnors togdher wilh the School F.xecutiTre aTe committed io that the School conlinues to provide 8 firsl class edu¢alion io all of ils pupils. All str8tegic deb'elopments are committeé rn&inlainins the School's posilion in the comprtitiTr"e market that it Iyerates. The achievement of hiBh standar& of ￿adeMic rtsults and tht del'elopmeni of the School's facilities are in1￿[811¥¢ l(> ¢h¢ S¢hwl'5 ¢ODlinued suc¢¢ss in the lonB ienn. Th¢ Governors and ihe Exec￿¥￿t haye rtcently r¢vitThed the S¢1￿1.s Stra*8i¢ Pl￿ and ¢onfitmed new obiedi%es for the next y¢8r'.- Tbe Stnlor School aeldemlc •(fer To continue to review the Sixih fonn xrtd GCSE atademie oifer. Conipuiei Science GCSE has bttn iniroduced fron) Sepieniber 2022 and funher new 5ubjecis ore ￿ be consider¢d. Along￿¢ the curriculum, the School M'ill seek to e¥pand the opporlunilits for pupils 10 dcvclop curiosity, creativity and ¢hAllenge ihfough exiemal links a￿ardS and omp¢tition5. Further to a rece￿1 decline in pupi150pling for thc Inlclnalional Bac£￿&u[C￿C. Ihe Gotremors also wish for the School to Coniinue io promote the benefilsof ihis prOgr￿me. PrtPAratory Srkool xc•d¢rnk oif¢r A review of aliemaiive aeademic pw8rammes Mill be compleied. A numbef of aliernalive existing ptogranimes will be revi¢wed including the Prep Baccalaureate bul con5idcration will also br gi)tn to developing a iwke Bromsgrove offer. The curriculum acii%'iiies progrnmme will •lso b¢ revi¢w¢d lo coDsid¢r integration ivith th¢ academic Prosrarnme. Bo4rdlng In aecordance wilh ihe commiimeni ￿ the coniinued refurbishmenl of ihe boarding hoy5e% ihe refvrbi5hmcnl of the Page BoaTdin8 HOU￿ ivill be compleled in the year. This project will tnhanct the knrdinB rxpcrience for our )'ounger bowde￿ and iinpn)ve the sustainabiliry of the house as new doubk 8l¥eJ units gnd 8 livin8 8re¢a ￿all ii'ill b¢ added to Ihe t¥terior of the housc. IVIDlerfold PerformlnE Arti Music tknma is a larse pan of a ntCTfold aTe of an infcrior qvalil). ￿ other Schools Iviihin ihe ljromsgmve family. As planning permission thas now been Secu￿￿, the Governo￿ ini¢nil ￿ dernolish ihe pg¢d pe￿￿Tr Hall cornm¢nce in the year to build a new modem slate of the art Arts Hall providing fwiliii¢s (or J%lusi¢, Drama, Nlass aThl oiher Sch￿[ g&therings. S¥sl•lo8bllky An Environmental su￿&1￿&bIllIY Nan is io be de¥ekwed ITh lh¢ year for approi'al by ihe Golen￿5. This plan ￿117 reco8ni5e thc cxctllcnt work bcin8 donc wkihin the Sch￿1 Supp)rt kanls as lyell as the achies'ements of the pupils &CfOSS ihe *&rious Eco-commilltts in the Sch(Kil. The plan Mill f￿u5 on four ke>. area& bEing ihe decarboni5ation of the estate enrr&Tr managtmcn( M85t¢ mottagem¢￿ tsahsport aftd the S¢hool's nalural ¢nvironm¢iil. The pl8n will monitor ihe SchrKpl's catknn. recognisc achieNemenlS to dkie and outline our ain)s for ihe fuiure. A nuinber of nei¥ iniliati%'¢s are alread) planned for the 2022123 academic )ear includin8 inve5lmenl in a solar array on the Dhnin8 Flall. ek¢lfi¢ ¢harging points in ihe siAtT¢ar park, funler roll oul of LED lighiing. furth¢r recycling and improvements in r￿d wa51e Tnan¥tmcnl. The fea5ibilily of further plkns ￿117 aly) be considered in ihe )ear including wnvening ihe laundry in lo ¥ ¢8rt<)n neutral building and conh'erting the heat 10s5 from ihc 5Mimming wl to elcrlricity for ihe StsVTounding w¢os. I"he BuNr will 81so wniinue 10 511 on the Board of ihe Toivn N,¢￿[￿k proj¢ct io considEr • longer term su5tainablt solution for the toiim. 13 BROIISGROI'F. SCHOOL REPORT OF THE GOI￿ RNORS (C••tinyed) STRLCTURE. COI%RNAJN'CE AND.IIAN'ACENIENT GovernlnR Document The Charity is governed by it5 Memorw￿Urn and Articles of A530ciatioTr wiyng from i￿OI￿)ntio￿ in 2￿)3. ¥s aniended on 4 Iktober 2015. Goyerrtors ind professlo#*l idtrtsers A lisl of CMNtrnor5 and Professional advis¢rs appears on paB¢S I 2 of this report. Reeruilmtnt and Tr*lnlth8 of Gobtr#Drt The Chartty's ￿¥¢mor$ we 8pw)int¢d al a m¢etinB of the Both of GovemoTs. follwing a seledr(m proc¢y3 and recommendatton fmm th¢ Cth'tmance Committee. The Goi'erning fequiffs breadth and depth of experience to cany Qui I￿ duties effeciively. Il'hen recrniting new Govemoo the Commilltt tskes inio considerniion eligibility. peN)nol competence. sprtialisi skills and availBbility. N'tw Governors are inducied inio ihe wthkings of the School, in¢ludin8 ihe pmision ofkey infonnaiitin LY)vering Bo*d policy. Schwl etlK)& strate8y and financial infoTrnation. All C•)i'ernor5 are enLxTrufdged to altelld training courses and workshop$4)r8aThi5ed by sp¢¢iwlisl Xh￿1 wganisjlions. All Governors give of their lime freely ab)d ￿ femuneraiion *"as paid in ihe ye¥. No GoN"ernor or person connected w•th a Governor received any bffiefii fT¥)m either mearLS tes*d bursaries4)rsClMJl￿s￿lpS awarded to our pupilk Or8anluiSonal Nl*nagerneTrl The B￿[d of Gov¢rnors, 8$ ihe ¢wsf¢¢s of I￿ Charity. is r¢wnsilth for ¢he over811 man•8emen¢ and control of th¢ School and meets at least ihffc iitnes ayur. Tht prineipal iesrthsibililies ofthe Bo¥d #t kn: Ensure Ihe Sch￿1 is run in accordance wilh lis charithble obje¢ii¥es and ihai all ihe fvneiions of the Sch￿1 are authorised by the pom'ers provbded by its st*ules. regulations and by wmpan>' aTrd thaTity law To aptA)ini ih¢ Headmaster To sei. in tonsuliBtion the Headm￿tr ktsd tht Excculhi't of the St1￿￿*1, the straiegy and plicies by whieh the School ￿]11 be Appiol'e the S¢h(ol Developmeni Plan Control finance by Bppn)vinB budgtts a[￿ kXlger-le￿ ￿ and by approvin8 s>'slems ihat oplimise ihe Chances ihol ihey ￿111 be achieved Ensure thai eompeiert professional kdvtce is thken wbtn Dtcesw. The in ¢￿￿kIl8 ihe sir*8y and ￿li¢1¢S Are bein8 corrtcily s¢d aDd explained io th¢ finaKial sthlemen p￿pBre the financkal ￿atr￿ents on ihe going cO￿trn basis unless il 1$ ifflgppropriale to prtsume ihai the ¢h&Yitable rnp￿Y will coniinue in business. The Gos'ernors are iesponsible for keepin8 proper a¢Count￿8 rttords dIsCk￿ M'ith reasonable a¢curacy ai an). lime of ihe fIn￿Cial psitTon of ihe charitsble company ar￿ enable ihem lo ensur¢ ihai ihe financial siaiemenis cornply wilh Ihe Companies Act 2￿6. They are a150 responsible kir safeguRTdin8 the a9sds ofihe charitable cornpar•y and ihe group nd hen¢e lor l¥king reawnable sleps for the preveniiM and drfcction of fiaud #Thd ￿her irT£Bulwities. So far as each of Ihe GtrN'ernors is aware 81 ihe lime the retA)rt is Appro¥ed- There is no relevant audit infomalion of ￿kn1¢h Ihe charitable compan￿$ a￿ditorS art unaivarr. The Governors haie iaken all steps lh￿ ihcy ought lo have iak'tn to mak'e th¢mselNes a￿are of any relevant awdii inforniation and 10 tstsblish the audikns •re aware of ih* infonn*ion. AiiDITORS Hay$ma¢intyre LLP hi&e exwessed their willingn￿5 lo coniinue io office as •DdiiOts and • Te501ution prow)sin8 iheir r¢" appoinlmeTht will be submitted at ihe Ajmual Gerthl In approving ihe Report of ihe Governors. the Board are also approving the SiraT¢gic Repon coniained herein in their capacity a5 compan) dirf AcceNed AtcouThlin8 Prnciice). In our opinion, Ihe fittlncial si￿¢n￿nts. Bive a Irue and fair view of ihe state of the group's of the pareni chAriiable ￿)mpanY'S •ffairs as 81 31 Augusi 2022 and of ihe gmyp'5 nel movement in fund& including the inconje expenditure, for ihe )"ear ih¢n erKfcd: hav¢ b¢¢n woperly prepared in accordanc¢ with Uthi*d Kingth)m Ge•eralty A¢cept¢d Accounling Pracliee: And hatre been prepared in a¢¢ordance Miih the r¢quirtments of the CompaThies Aci 2006. Ba$ls for opinio '¢ conducied our 8lldii in occordgAce wilh International &andaTth on AuditinB (UK) (ISAS (UK)) artd appli¢able law. Our reS￿nsIbIlitIeS under those Stsndards tre further des¢rib¢d in the AudiloT'S Te5powsibilitie5 for the audit of the rinon¢ial s¢ai¢ni¢n15 section of our re￿rt. Il'e art indcpelldeni ofthe group in •c¢ordanc¢ iviih ihe ethicol requirements that ale relevanl k) our audil of lh¢ financial 51atemenls in ihe UK. including ihe FRC'5 Ethiral Stsndard, 8JMI we haNe fuifill¢d QUT ¢Aher tthical r£s￿￿$1b1171lts in accoftf*Ke m'iih thes¢ requÈr¢rnenls. M'e believe thai ihe audit evidence Me hatre obtsined is sufficicThl and appropriate to provide a basis for our opinion. Coneluslotrs relatin% lo goin% concern In audiling tht financial 5121cmerblS, ￿¢ have W￿l￿ded ihe &v¢rnoTs' use of the goifflg wncern ba5isof accounling in ihe prepwaiion of the fmancTrwl 5tatement5 is appropritttr. B85ed on ihe ii'owk M'e hayf perfomird. li't hai'¢ noi td¢nlified 8ny material uncertAinlies relating ￿ e%'enis or condilion5 Ih8L individuRlly or tolle¢iively. may significani doubt on the gtoup'$ ability conlinut &% a goin8 eoneern for period of at lea51 h%eltye months frorn ￿heTr the finkneial siatefflenis are auiFrtYised for issue. Our rtSFKlll5ibiliiies Ind ihe re5ponsibiliiie5 of ihe Governo￿ Thith respect to SOlllB conecrn are des¢ribed in ihe fflevani x¢tion5 of ihis TepLft- Other infoTm*tio The Govemors are ￿spOnSI1)le for the other iAfonnation. Tht othef infornialitin cornprises the 1nfomiaii￿ included in the Report of the Governors. O￿t opinion on ihe fI￿n¢181 Mai¢nwDls does rKJl cover the othcr inforEnalion and. cxcepl 10 the ¢xRni (Ah¢rwi5¢ explicidy staled in our rtwrL Ive do express arly hrn) of •ssurance con¢lu5M ihereon. In Coftllttiion with our audii ofihe rMA￿l&l sl•lem¢nts, oyr rewn5ibility 15 ty) read the other infom*ion and, in doing SQ, C0115ider wheiher Ihe othcr infortnation is ￿￿¢11411Y in¢oosisl¢DI ￿'11h fina￿181 slatements OT our kno￿'Zedge obioined in the audit or oih¢n4ise 8pp¢ars to b¢ maltrially mis51ated. If we identify. such material in¢onsisten¢ies or apparent materihl n11$￿atemen￿ w.e ￿t iequir¢d io drttrniiThe w'htther there 15 a rnttlerial niissiaienieni in ihe fiiiancial statements or a mllierial mi&siaiemeni ofihe oiher infomlaiion. If. b3s¢d on the i1￿k w'e ha%'c performed, *'e Conclude that there is a Miaterial misstalemenl of this other ittfomiaiion, we are required io repon ihai fod. Il'¢ have rrfjthing to repon in this ttgard. Opinions on oih¢r matters presf ribed b) the CoThpY4nie5 Aet 2006 In our opinion. based on ihe wo￿. ￿dertakrs (Ivhifh incoTP(¥ates th¢ stw•t¢gi¢ teport •nd the direclor5' Tcwt). Ve hal't nothing to rtEK)rt In ￿sPecto(the followinB malters in telatioo kn which th¢ Companie5 Ad 2006 requires us fo rerrt)rt io you if, in our opinioTh.' adequate accounting recwds not been k¢0 by the par¢rf charitsbk wrnpny: or tht parent clwitabk cornpany finan¢tal Stateffl¢n￿ are in 3gre¢m¢nl thiih the accouniing re$ delert a maierial miwaiemeni when li exists. NIiss￿emtnts Can arise from fraud or error and are c'ing and ieslin8 journals. in particulBriournal enlries p)sted #i Ihe )'ear end- and Challenging a5wmplion5 and judgemewlts made by monag¢men¢ in their wcounling estimales. IN'DEPENDENT AUDITORS. REPORTTO THE ￿T￿lIBER50F BRO.%ISGRO%'ESCHOOL(rontinutd) Beeause of the in￿ett￿l lirnithlions of ￿ a￿dIL there is a risk th* will noi deiecl all wregul•riii¢s, including ih05e leading to a matcrial mi5Stalcmtnt in thc finartcial st￿¢me￿$ or non-cornpliAnce wilh re8ulaiion. This risk increases ihe more ihal wmplian¢¢ wilh a law or r¢gulaiion is remoled from ihe events and transactlolls Tcncclc I ET ASSETS 69.2N583 £66.251.016 Endoiwient Unreslricied Restricied 495.998 61.71fi888 17,697 10 65.731.954 102SI 69.230.583 £66.251,016 The finftn¢ial siaiernenis were •pprov¢d and a￿1￿¥1$¢￿ fw iwe by the Bo¥d of Govenmjrs on 18 Nlarch 2023 ￿tle skgntd bclow on its behaifby: l GoY¢rno D Il'alt¢rs The aecompan)'ittg no*s fomi ocihese fthoTrcial sw¢m¢nl 21 BROIISGROI'E SCEIOOL Reglstered C•mpAthy No: 480B121 CHARITY BALANCE SHEET ASATJI AUGusf2022 2112 2021 Notes FIXED ASSETS Tan8ibl¢ Ini'¢51ments 71.871.809 5,152.319 68.853.203 5.476.973 n.024.198 74.330.176 CURRENk T ASSETS Stock's Debto C¥h ai bank and in hand 42,173 ,833.258 6.677,095 33.194 1.339,771 7.349,448 8.552.526 ,723.113 CREDITORS: Amounts f•lling due wiihin one year (12.376J161 (11.497J94) NEfciiRREliT(LIABILITIFS) (3.823.160) (2,774.281 } TOTAL ASSF.TS LESS CURRENT LIABII.ITIES 73.2(M).338 71.555.895 CREDITORS: Amounts falling due after more ¢hon one year (6,164,068) 17.333.410) NET ASSETS £67.036.270 £64,222.485 FllliDS Endo￿￿¢￿1 Unrestyicied 495.9 66,540,272 508.111 6J.713,674 £67.036.270 £64.222,485 Th¢ &h(K)l inwm¢ fw ih¢ yw w&s £44. Im (2021.. £36.4m> with a surplus of£2.8m12021: £3.5ml. The financial statements Mtre 4)proitd and •uiknhsed for iss¥¢ by th¢ Boord of fjov¢rnors M I l MaT¢h 2023 and weie ow on lis behalf by: ma ) Govemors D Waltc The itcornpanyiTh8 notes TO￿ pan of these fininciJl si*¢ments. 22 BRO%ISGROVE SCIIOOL CONSOLIDATED CASH FLOIV STATENIETrqT FOR THE YEAR E%DEDJI AUGUST I•II 2021 2021 1¢ rash pr•i•Jtd b) optrtti#g•rfi%iiki 6.497&18 5,9)7,365 ImK'estm¢ni ITL￿me we¢ei%ed orrt¥ed assets Pwtttds pn diiW5al of IllJ26 (4775,1051 168.281 {l.192.(￿lS 9.SX)8 11.023.774 .042.333 (6.204,1831 038,755 Sale ofinv¢5tnKnts l'et ¢1sh frorn Imestkng {4.760.(A)7) (995.8JO) Jan TepA)ments Cttpital ekmetht of fuhaA¢e lease ttTrials lTrl¢t¢st tosi (2.223.117) 123.4751 {111.4841 lJ,446.&55 (22,69J> 1105.&57) t*sh knfl8v4louii))*) fro* IIA*rLtIAR*cih"iiles 12.358.076 lJ.573.825 (Decfeasel l ineie&e iD¢ash and ¢ath equiial¢nts 1621.IA55 1.337.690 Cash 8r*l ¢&sh ewit4*lerts at I Septthjb 7.851.Ib90 6.513.41)0 CL%h gnd equiT4*leNs at 31 Aw 7.230.D25 £7.$51.(V)o Clsh and fash ¢quh'*ltnts ¢•mprlsr. Cash Bi bank CR5h kneld orin¥￿Im￿ 7.230.025 7.732.778 111.312 £7230.025 £7I51.1790 RF.CONfll.1.4TIOI OF INLO.IIE TO *ET CASH INFI,OII' FROII OPF.IL4TIjG ALVIIITIES 2022 2021 'el income kfLW¢ in1"¢$trhe￿ Ibsses>81iAS kpreti&tkOti Gain on dis￿￿ orrLxed Assas Increase)Ideciea5e iTh stock Intreasellde¢iease deEkn Incre￿,{&¢(else} in fee &posits fees in rth Incre￿ Ilthcrea5e> in r￿di1￿$ Ini'e51nitni into￿* re¢ei*able Inler¢s¢ -a.3￿.557 1.762.086 3,467.562 ,725.724 S.153 82.845 613.508 610.6SO ISJ4.8S61 1168.2881 105.067 19,251) 1566.123) 810.184 ,179.207 1181,326 111.484 N¢1¢￿ Intlow from0￿￿1(￿5 £6.497.618 t5.907.365 23 BR0,IISGROl￿ SCHOOL CONSOLIDATED CASH FLOII. sfATEl¥ JEYI r (¢ontlAued) FOR THE I'EAR ENDED31 ALGbST2022 AYALI'SISOF CHANG￿ IN NET iEBDIASSET C•sh IloThs olher moiemeAts A¢31 Augwt 2022 September 2021 Cath and cash equivalents Short lerni borro￿10￿$ tA)nB tem) boffowin8S Finanet Itase 7.851.09) (2.20.5.3921 (3.716.949) (29.4541 (621.065) 1223,117 7.230.025 11.215,043) (2.484.181) (3,979) {1.232.768> .232.768 23.475 assels l (&bt) £1.899.295 £1ffi25.527 E3.524I22 24 BRO)ISGROVE SCHOOL STATEIIEP*T OF ACCOUINTIYI G POLiaES FOR THE YEAR EJNDED 31 AUGusf 2022 BA￿$ ofprepr•tio Th¢ financial stattmtnts have bccn prtpartd in aeeordattce with ihe Fimoncial Reportim8 Sundard Applicable in the UK and Republic of Ireland IFRSI 021. the Cornpanie5 Act 21)06 aTtd thc Stsiement of RccommerHJtd Pr8Clite applicable charilies p￿parIng their a¢counts in a¢cwdan¢¢ w.ith th¢ Financial Reporting Standard applicablc in thc UK and Rcpublic of Ireland (FRS 1021 (Sc¢oThJ Edition. e(f¢ciive l Janw 2019 The chBrity hAs thken adwAntsge ofthe exempiiott available ￿ a qualifying eniiry in FRS 102 from the r¢quir¢men¢ to present a charity only Cash Flow &aiement Mith the ￿ls01¢d*¢d fi1￿cIal st￿¢￿ents. Having reVIe￿¢d the funding facilities available io khool togaher V+iih ihe eXp￿ted OD8Oln8 denI￿d for plaff 5 •nd Ihe Schwl's projected cE5h flo￿5. the Go%eTnow5 hayc a rt*sonable expttt1t1￿ that the S¢hool has ad¢quat¢ fesour¢¢s lo ¢onlinue i($ 8ctivhties for ihe fore5ee8ble f￿￿Te and consider ihat there were ty) material un¢enainiies otrcr the Schwl's fmancial viability. A¢cthdingly. thry alFA) toniinut thpi the 80irt8 eortcern b￿lS in preparin8 the financill staieinenis. The financial statements of the Group include the resuh5 and b31ancc5 of the Sch£￿7 tonsolidaied on a line by lifie b￿•S wilh BromsgTo%e Schwl Enkrprise5 Limiied Rnd BrOmsgro￿e SclKx)l Fo¥ndalion. In a¢¢wdar*ce iviih Swti¢)n 408 of the Companies Act 2￿6. no 5epar4le StsteTTrETrt of Fimncial Actiyilies is pm¢nied for Bmm5wve Sciv)oL The S¢hcA)l is a Public Beo¢fii Entity ffgisl¢r¢d as 8 Choriiy in England and Il'ales and & eompany lirniled by gUAraniee. li ivas incorporated on I Sewember 2003 (wmpany nwnb¢r' 4808121) and registered as a charily Icharity nunlbtr: 1098740}. Critieil *eeo*ntinR Judtehnents and key so¥rees of eslim*tioTr wTr¢¢rtgiDIy In ihe application of the accounting wlicic5. Govcrnors a¥c requiTed to make judgemtnt. esiimales, 8ssuniption5 the carr).1￿8 %alue of assels a￿1 liabililie5 ¢hal arf not T&￿ilY wartrrt fwom other souwes. The csiimal¢s 8Jd underlying assumptions are based on hislorical ex￿rienCe and other faclOWS that are conside￿d to be relev￿1. Aciuhl results may differ from these estim* The estkmales and underl)'iffl8 a55umFIion5 arc revit￿ed on an ongoing knis. Revistons io a¢¢ouniing esiiniale5 are recognised in the periiKI in which ih¢ ¢stimale is reYi5ed if the rN'ision alTects only lh￿ pcriLKI. or in the period of the revision artd fulurt periods if ihe rtvision affecied ¢uN¢nt a￿j futur¢ perith. In ihe viewof the Ik)vem￿s. TK) tssumJXM)ns concerning ihe fithire ￿e￿imation uncefvinl>' affe¢tiDg assets 4x liabiliii¢s ai ihe balance sheet date ar¢ likely to re5uIi in a material 8djustrncnl lo theircaryinB arnounlg itt ihe ntxi finaneial yeAr. The followin8 accounting ￿liCitI havt bten applied L))nsisienily in dealin8 With iiems i*hi¢h are ￿nSidered mAteriAI iii relation ￿ ihe ￿1￿1,3 firk￿¢181 5tstemrnt% Ftts Ind 5imil*r tarned incoThe F¢¢$ rec¢iv4ble and ¢hArges for s¢rwites #nd use ofihe premise& less any altoiiance5. 5cholarship& bursaries grnnied by the S¢hty)l agai￿￿ those fees, bul including coThth7&utions receiwed from rtstricled fund5. are Accounted f(x in ihe period in which the sertr'ice is p￿Vided Inv￿1￿1¢1¢ •n¢orne lrt%¢sime￿ income from dividends, bonk. balances ond inrere51 sffurilie5 15 9¢￿)unted fiyon an xcnta15 basi Donations, Itg*rles• grlnls ￿nd other boh)nl4ry iurome Voluniary in¢omc is 8ccounkd for as and when enliilemeni ¥ise% ihe arnouni can be reliably qua￿lfIed and ihe econoniic benefil 10 the S¢hwl is considered probabk. Granl income from the Coron&Yiru5 Job RelenlioTr SeheThie is reco8ni5ed in the same period as ihe relaied emplo)meni c05¢s are ifflcurr¢d. Volutllary inwme for ihe Sch￿1,5 8eneral PUTFrf)StS 15 accounttd for as unr¢51rirted and is crediied to the Qnml R¢s¢rne. l¥'h¢ie the donor or an appeal has imkx)sed ¢rusi law r¢5trictions. Trolunlary ifflcome is cftdiied to ihe relevant rt5triclcd furbd. 25 BROIISGROI'E SCH(M)L srATEI¥IEIYfOF ACCOU&NIING POLICIES FOR THE YEAR ENDFD31 AUGiisf 2•22 F.Ipenditure Exp¢ndilure is ac¢nred os a liability is considered I￿obable. diseowiied io pr¢s¢nt value for longer-temi liabilitie5. Expenditure 8ltribyl8ble io mort than one cost category in Ihe Sia*meni of Finoncial Acii%'ilies 15 gpIK)riioned ihem on the basis of th¢ esiijnated attributable to each a￿1vIty irt tht Jear. ciiher by refererÈc¢ to slaff tinie or Ihe usc rn￿e of Ihe llnderfj'ins asse￿ as wppropriale. Irr¢covernble VA T is included wilh ihe il¢m of e¥pendilure to which 1¢ relates. Govtrnancc <05t5 compriK ihe costs of complyin8 with con51iiultonal and S￿￿￿TY requittmeftts. lntrn-gr￿p s&les charge5 betsTh'een ih¢ S¢￿xI1 its subsidi¥ies are exclLMled from tyading ￿cOme and expendil11rt. TAnKlbk fixed *$5ets Depreciaiion Is provided At rates cal¢ulaied b) write off ¢aeh &%s¢l over ils ¢￿•m￿¢0 useful life. F4uipment 15 depreckated al annual rat¢s varying beM'eeR IIPA and 33.3trA on cosl. No depr￿laIlOn is proyided on freehold land. Depreci*ion is woyided on frtthold buildings d 2•/• per ￿nYM. siraighi linE. ihe buildings gr¢ broughi inio use. Thc anlicipaled a%'era8e lif¢ of buildings is esiimaied by refertnee ￿ I S¢pl¢mb¢r 1990{dat¢ of coJumcNccMent of ' spread on a s1rnighi-1i￿e basis over ihe lease trmi. 27 BROIISGROVE SCIIOOL I'OTES TO THE FINAICIAL STATE￿IENTs FOR THE YEAR Ef*DED31 AUGUST 2021 EXPENDITURE Stiff C•sts (hher Tol¥l 2022 ChArii*bk Itilvlty: Teaching costs Il'elfare costs Pr¢mises wsis Supp)rt and governance Lx>sts 17ffl9.076 2,108.665 2J20.859 2.274 JI I 2.120M50 2,084,207 5.540.685 19,91P).932 4,192,872 7.8&1.541 3,390.686 24J93.411 10.961.623 35.355.034 R*lsSng funds: Lettings Scknl shop larketing Financ¢ costs Other 181351 83.979 205,315 290,360 .319.029 111.484 71.728 387,673 374,339 1,319.029 111,484 245.020 173.892 440.229 .99?.916 2.438.145 t24833.6 [12.959.539 £37.791179 2021 Charilable actiTr4ty': Tea¢hing wsis '¢lfaTe Premi5rs c05 SupFKYrt and govemartce costs 16,771,851 1.870.099 2.0(A.663 1138,496 1,848,587 1.864.0(YJ 4.962,359 683J96 11,620,438 3.734.108 7,027,022 2.821,892 22.845.109 9.358JSI 32.203,460 RAising fund$: Lellinss School shop Nl8rk¢iing Finance cos her 91.221 71.323 24.7*) 3￿,154 1.101.094 105.067 81,825 116.020 372,077 I.IOIP94 105.067 172,6D3 .771 253.322 1,613339 1.866,861 £23.098.431 £10,971,8 £34.070,321 Fin*rtte¢osts r¢lakSio In1¢K￿ on b•Dk knan5 for 2022 th12021. 2021 2•21 Gob'ernan¢ecost$ in¢lyded IA $ilPPOrt costs: Audilor's remyneralion Cx)ler￿￿' cosls Legal profc55ional (hher 34,S 723 53.451 &316 33.666 75 23.422 £9&WO £65244 BRONISGROVE SCIIOOL OTES TO THE FINI ANICIAL sfATENIE%TS FOR THE YEAR EP4DED 31 AUGusf 2•22 EXPENDITURE (ttsntlnued> Total expendiwre includes.. 202Z 2021 D¢pr¢¢i81ion Audiiors remunernlTOQ- _ Aujit fe¢$ (sch￿1) Audii fees {Subsidiaries) - (Mhei seThi¢es relaiing b) wation 1.762.686 23.250 11.250 9,822 .725,724 21,7 10.525 1,710 BURSARIES. SCHOLARSHIPS AliD GRANTS 2011 2•21 Burs*ies Forces dhxount5 Scholarships. exhibilioffls and other di￿Oun15 2,123.685 1.300,514 456.187 2,(AO.025 815,470 381.612 1.880.386 £3.307.137 sfAFF COSTS 2122 2021 1¥'oges And salaries èl security cosis Oih¢r ￿nsiOn cosis 10.071.$73 .893.830 2,161.237 1&657.389 .708,352 2.732,6 £24.833.640 É23.098.431 The 9s¢r4ge numberof eMplo)'ees in the yt•T W•S." Teache Admimistraiion (in¢luding 8c•d¢mb¢ wpixxl) 229 427 229 418 656 647 The nwmbcr of cmployees *hose remuneM*)n excttded £60,ThXI 15 disclosed below. 2022 £60,(K]O-£70.￿1 £70.￿￿-£80,0O￿ £80,￿)1.£90.O0o £90.￿ I-£1(￿1,000 £ioo.001-£iio.o £110,001-£120.000 £120.1]01-£130,000 £220.(101.£230.000 £240,￿11-£250.00I £250.QOI.£260.000 17 29 BROIISGROVE SCHOOL 'OTES TO THE FITr•￿￿clAL STATENIENTS FOR THE I'EAR ENDED31 ALTGUST 2022 orihe akn.e employees. fourteen (2021= five) rec¢iv¢d contribuiions io a defined lgaiDs 5.958 .1671*22 129.883 118.312 7,244,737 6.129.883 {6.145.2741 75.th) {1 1.793 1110.9901 (A026.9621 (118.312) 75.1 (11.7931 (479.1491 65.159 Balance 8131 Augu512022 £6,881.563 £6J8J.563 School Balante Ai 31 Au8usI 2021 Addiiions DbS￿$alS fanagcrnrnt ftts paid ILoss¢sy88ins 4.477.111 95Q985 4.6M331 48077 5,476,973 4.6(N).331 14.584.940) (9.6331 330.M2) (4.53@wi (48.877) 19.633} (389.294) 51.952 Balance At 31 Augum 2022 £5,152.389 £5.152,189 The School holds IIMPA of ihe Share capital of BToms8Tove schts￿ Enierprises Limikd, *hose principal aciii'•t1¢5 are commefcial letting5. oper•ftn8 • slKTrP and administcring thc School's inlcmitional aciiviiies. Thi5 inlyst￿t￿l is hcld al nil value in the financial slalements. A sumniar> ofihc balance sheel and PTofil loss couni f¥ryn ih¢ audiied financial stat¢￿t￿lS is set out t*h)w. JI August 2022 2011 Tyrnover Expendilure 1.144.123 1760.3991 776.840 1611.3661 N'ct profil before doTt&tioTr undcr Gift Aid tknalion under Gifi Aid io Goitrn(*s of Bromsgrove SCI￿1 383.724 1165.4741 165.474 {28.8791 Retained profiV