2023-08-31-accounts

BRO.%ISGROVE SCIIOOL { cornpny limi1￿ b). g¥rnlet) (incorporAti•e Bromsgn)i'e se1￿1 Scholarship and Prize Fund, Dvld IVlttrs Memorlal Fu#d #ttd The Soelety ofFrlends or Bromstrove School EAth)m'ment Trust) COP*SOLIDATED FINANCIAL STA TEIIIENTS FOR THE YEAR ENDED 31 AUGUST 2023 c(￿panY Number 4808121 Chari￿. Number 1098740 Haysrnacintyre LLP Chartered Accountants Regi5t¢ied Audilots LonikTrn

BRON1SGROVE SCHOOL REPORT OF THE COVERNORS THE GOVERh'ORS AND GOVERNI ING BODY Mr M Lurkman (EC. RC; GC) Chatnnan Chjir of GovemJTrc¢ CIJmmitt¢¢ Li Col M S B8IIArd (HC- SC) Chair of Healih & &fdy Commilltt Mr C D E Corneron (FPC: IC: SC: RC; GC) B￿rdIng Crt)v¢rnor Chair of Risk & StrJt¢gy Commiryee Mr J P C4mpl￿ (FPC) Mrs A E Clewy (SC. EC) ChJiw of Safegwding & Welfare Committee Dr D Cunningham (EC) Dr A Daly Appinted 0911 Ir23 Dr C Lidbury (EC; SC) ChairoCEdu￿10n Comminee Mr D Morton (EC) Mr5 J Loyfftton (BQ Mr W Roden (IC; FPC) Chairo(Invtstrn¢Ats Commiiie¢ Mr I StriTr8eT (BC) Chairo(Buildin8 Committee Mr C Thompson AP￿1￿(ed 09110r23 Mr D R Walters (FPC: RC; GC) Chairn)an olFinance & Property Committ¢e Mrs D Walti¢T OIC, JC) Mr A J G Wil¢ox IBC) FPC- Member of Financ¢ & Property Clmnmittee EC- Meiiiber of EducalioD Comniinee BC -. Member of Building Commillee IC = Memlxr of Inveslment Committee RC - Membcr of Risk and Sirategy Commilttt SC- Meml*r ofsafeguarding and M'elfare Commillee HC - mcm￿1 of Hralih Jnd Safety CoTnmitte¢ GC - MeThbcr Offjovern￿¢e Committee CLERK TO THE GOVERI%ORS AND CONIPANY SECRETARY Mr J Sozntneryille HEADMASTER Mr M Punt MA (Oxrnx MSC. PGCE W¢b5ite: ￿N.￿..brOm5 roie-school.co.uk PRESIDENT Mr sTo￿eCBE DL

BROMSGROVE SCHOOL REPORT OF THE GOVERNORS (continued) ADVISERS Bankers: Lloyds TSB BaTrK Pk 112 Iligh Street Bronisgroye Vorcs B618EZ Soliciiors: Veale W&sbrough Orchard Court Orchard Lane Brisiol BSI 5WS Harrison Clark Rickerb>'s Ellen1KJr(￿Eh House lellingion Str Cheltertham GL50 IYD Auditors- HaysmJcintyTe l.l.P 10 (>Jeen Stre¢1 Place l.ondon EC4R IAG Inveslmeni Advisers: CCLA One Angel Lane London EC4 3AB Sjrasin & Partnets LLP Juxon House St Paul's Churchyard London F.L4M 8BU In5uranre Broker5'. Marsh Ltd 4 Milton Road Ha)Tr%'aTd5 He￿h, Suss¢i RH16 IAFI STATUS AND AD.%IINISTRATION Bronisgroi'e School is t company limited by guardntee. having a share capilal and i5 governed by 115 tnemoTaTKluwn 2nd atlicles of associaiion. Company Regisiraiion number: R¢gi5teYed Charity number= 4108121 lQ38740 Re8i5tered offire-. Wore¢st¢r Road BroTnsgroYe IIIoTcesiershire B617DU

BROI¥ISGROVE SCHOOL REPORT OF THE GOVERNORS (CmIlD￿eO) CHAIRMAN'SSTATEhlENT The School hos ¢njoyed an excellent >ear which is panicularl) pleasing 8iven the tough ¢conomic condilion5 Ib'e fKed. All areas of the School have benefitted from strong parental ￿pF￿ foT our quality educalion. Thi5 is Tefleded in high studeni numbers across all four School5. Exiernal academic re5ulis were excellent. For many ITr the Upper sixth, Iheir GCSE year hr•J been disrypted by COVID and ihis >'ear's exams, w'ere the first iiFne ihey experienced Ihe full exlernal exam pr¢K¢s5. 1 delighted lo report that ihe IB cohort achieved an ai'erage score of 38, ￿1th one pupil achieving full mJTks! This 15 an excellent sel of r¢sylLS. A level resulis ere also sirong and these t￿rf0MlanCc5 r¢5ulied in 9(P/• of our leai'¢rs going to their UniYersitie5 of choice including 5 of ihe lop unii'ersiiies in ihe world. Illell done to alll Th¢ S¢hool h&8 eoniinued io make good progress on su5thinability w'ith pupils atwj staff actively involved. i• reduciton in energy used and a 70A reduciion in Greenfrouse Gas inipro¥emenis. Over ihe >'ear ￿'e ha¥e seen a 4• Emissions. We will cominut th n￿ke sustsittable impro%ements. Durin8 Ihe >ear the ￿hOle S¢hool ins￿¢ltd by ISI. This is a very thorthjgh process and l ani delighred to report that all four areas of ihe School wer¢ a￿8rded ExcelknL the top grad¢ 4WArd¢d I would like th ihank all staff involved in ihis demanding PToe¢5S. The School offers an extensive range of extrn-curricular idivili¢s en¢ourngin8 ¢hildr•L io d¢vtlop themselves ouiside the classroom. The SchL)ol is alMa>'s lookin8 ai ￿ayS of debeloping life skills and this )ear we ¢5thblished ¢los¢r links %'iih Chadgmve School where our pupils trfovithd suprKffl lo children with profound special needs. We coniinue to widen access by ihe public io SCI￿0] facilities this include5 Ihe highly successful sivimrning and tennis acad¢n)i¢s. Many I￿al ¢lubs are able to enjoy the Scknl's fa¢iliÈies including the Ans cenlre. In the )e8r the Sch￿1 acquired the R>'land Centre which noi only secured ihe long mi fll￿re of the School's aihlelic f&cilities, bul also ¢nable the School to pn)Yide gym facilities to ihe local community. The wlili¢•l landscap¢ in 1#8land is particularly challenging for the independent sector w'ith LabNr slating they will ynpose VA'f on School f¢¢5 if ih¢y the neAi ele¢iion. I ￿?1¢1.¢ the Sch￿] is well placed to navigate ihese 'stom)y waters, and will conlinue io ihrie by off¢riDE ex¢elkthi ￿¢*lon io 0￿r pupils.

BROIISGROVE SCHOOL REPORT OFTHE GOVERN'ORS (CoWliwu￿) The Direciors, •liho are the GovefDors of ihe SchcM)l. preseni thehr annuAI rerK)rt for the )8r ended 31 Augusi 2023 wjdet Ihe Companies Act 2(M16. iogether ￿'Ith the audiied fmantial stsiements for th¢ )'ear and confvm ih41 the fmaneial staiemenis con)ply N'iih the requiremenis of the A￿. the chariry's gokerning docunieni. applicable ta￿ and the StaieIlleni of Recomniended Praciice.. Accounting and Reportkng by Charilies applhcable to chArities prtpèring their Atcounis in accordance w'iih ihe Financial Reporting &artdord Appllcabk irt th¢ UK and R¢publi¢ of Ir¢l8nd (FRS 102) (Second edilion, effeciii'e l Januar>, 2019). REFEREliCE AND ADMIIYISTRATIVE INFORhlATIOI The School i%'&s fwnded tn 1553 and Te-r￿Aded on ihe turr¢nt sil¢ in 1693 by Th{￿a$ Cook¢s. Bromsgrol'c Sch¢y)l M'as orte of the oriBirTral fourteen niembers of the H¢admasters' Confcrencc (HMC) ￿hen it iY85 founded in 1869. Thc Prc- pr¢parai()ry and Preparaior). S¢hools 4r¢ ts4'¢ntt¢th ccntury foundatiODS. Winlfffold Preparatory School joined our fan)ily ofschoob in 2017. Thc SchiM)l ivas incorporaied as a company limited by Buarantee I SeplembeT 21K)J under ch¥ity number 1098740 and regisler¢d ¢ompany numixr 4808121. OIIIEcfs, AIMS Af4D ETHOS Charltable ObJttls The objects for which the CIMrity is establi5kn¢d are io JYan¢e and iraining by the provision ¢(￿dUct in or near Worc¢5k￿hIr¢ of any djy •nd iKMrding ￿h(￿lI or ￿h(lO15 for knys girl The Charity PTovide5 education on three siles in WoTceslershire to iw5 and gir15 fwom the ages of 2-18. The Charity also provides llurKry rar¢ ai ihe Illinterfold site for babies aged 6 weeks to 2 yeaTS. It is ihe policy of The School io provide a rirst class education, Ivhich idenlifies and develop5 the poleniial of individual pupils in a variety of area& wovides thein with ihe best achievable qualificalions and yepares them for iheir fvDJre lives. The Charity conslanily aims to provide a fiN cltss edu<alTOn to Iws and girls from ¢h¢ ages of 2.18. 'iihin ihe objecls. the ￿h0o1 aim5 lo pr(Kfu¢e hjppy, creative, Thoral ciliien5 live motivaled, fijifilled live5 ￿hlIe riching the liv¢5 of others. Th¢ School seek5 to achieve this ihrov8h enlightened. disciplined and broad education Ihal responds io sk)bal change w'hile relaining core values. The Core values ihat the School seeks to foster in its piipils Ilumility and Confidence Respeci and Curiosiry Compassion and Ambiiion Tolerance And Vtsion Eihos Bromsgro¥'e Schcol is commiiied io safe8uordin8 aENI promoting ihe welfare &nd M'ellbein8 of all pupils. The School is proud of ihe Sirong pasioral care pro%'ided by the House SinKiure in the SenÉor School and by iht fonn luiors w'iihin ihe Pwparalory ond l¢-prcparai(My Schools. The Schwl has # taring eth￿. iihich is r¢fl¢cicd in 411 ofihe School's wlicies and procedur¢s. The School mainl8in5 regular con¢acl Mith parenls through newskiiews, S￿1?1 media. informal nieelin%s and regular repor1& The School"s dhos is to ￿ekome pupils from all backgrounds. Enlrance asse55menis are undenaken io sati5f)' both the School and parenis ihai prospeciive pupils W￿ld c(ye i%"ith ihe pace of learning and benefit from ihe breadth of ihe educaiion ihai ihe School provides. An indil'idual's economic siaius, gender. eihnicity. sexual orieniaiioi). race, religion or disability (k) noi form port 0(th¢ assessmeni w(ess. The Govemors are committed to the long.sthnding W1￿1P1C ihal chafities rn￿51 exist for the bcnefil ofihe public and the School has a long tradition of providing public benefit. both through educaling pupils ai the School and ihrough •550¢iat¢d a¢iiviii¢5 for th¢ ￿nCr7( of lh¢ w'ider £QTnmiinil)'. The fjtri'ernors are ¢ommitt¢d 10 M'idening acc¢55 to th¢ Sthool to ¢nsure lhal chiklren M'ho wuld ￿01 oth¢n4"i5e atlfnd ihe Sch(KTrl b¢n¢fit from th¢ c￿ratIon provided

BR0I15GROVE SCHOOL RF.PORT OF THE GOVERNORS (Coth15nued> OWECTS. AIMS AND ETHOS (Conilmued) The School hs part of t wider Community and has a long hi￿ory of otrNing a range OC ethjcaiional aciivities for ihe bencfil of local chiktr¢n. Th¢ Sch(K)l o(fers Aciiviiies and access io the School"s faciliiies ￿ provide opportunities for children other than pupits ￿ the S¢hool io knefii from the charity. We are ery proud of the Brornsgrovt School Sw'ifft Academy m.hich provides swimming lessons to 1.100 children from the k(al communily each iv¢¢k. Th¢ Summer Schth)l ihai rnns for eighi w'eeks in the summer holidays and ihe Tenni5 Acadeniy Are &lso opeA to local childreth. Local wimary scFJods use ihe sw'imniing p￿1 for iveekly lessons al no charg¢. The School also conlinue5 to reach oul to local children through a ivide range of aciii'iiie5 including ihe %%eekly joint Orcheslrn Group wh¢re a number of local Primary. khools conle io Bromsgro¥e io rehearse 108ether to the n￿Try I￿al Sports Club5 and Associations thAi ugt the S¢lK)ol's sporfs faciliues. BvrsArles aid ScholarshSp5 The SchoDI is comniitted to ensuring ihai ihere is su(fient opporlunity for children iyhose parents cannot afford the fees. inrludin8 those in w)¥erty, to benefii from its educaitonal seryices and facililies. The Governors and ihe School wnhllNgtm¢nt regularly revi¢w the sch￿I.s Public Benefit Policy as PArt of the ongoing devel(ymeni of the Sch￿1.$ stralegy lo ividf tb a￿¢55. The Gov¢rnors gr¢ ¢ornfflrtt¢d to off£ring a means.tested bursar). scheme lo alloil direcl access lo the ¢du¢kiional services provid¢LI. The xh¢me i5 d¢5ign¢d to wisl pt05PECtii'e parents and exisiing parents on lo￿ incomcs who. f( rinancial reasons, niighi oihfrwise b¢ unabl¢ lo send or rontinu¢ lo sertd their child io the School. The bursary scheme include5 Admissions t￿r$arleS for ihe p￿￿15 of v¢iv pupils and Ilard5hip bursaries for ￿[entS whose financial posilion w.0￿¢￿$ unexpecledly. Adniissions bursarie5 inclvde ￿1h life challging bursari¢5 (75•A . lOtr/o) and loivei aivards for families needing fee assi51ance. Bursaries are entirely means tesied and are a￿arded on an ￿nual bA51S to pwen15 who salisfy ihe financial (Til￿lA set by th¢ School in relation to their income a￿1 the value of their c￿1￿1 assets. The School hLs a Bursary Policy. w.hich is av74ilable to t￿th prospectiye and exi51ing paren15. The FK)licy conlain5 an ovetview of ihe bursary scheme and deiails the Pr(Ke￿Ie for Epplicalions aThJ award5 of bU￿rI¢s. Th¢ value of bursaries will bt up io l(XYA of full fees and addiiional 8S5iSTance is available lo parents lo ass1St M'iih ihe a5xKial¢d c0515 of I￿1r ¢hild's educaiion. The S(1￿1 allocaies a woponion of its ￿tal incoine in each financial year lo fijnd Ihe bursary Scheme. The Sch(x)1'5 currtni aim is io allocaie noi less ihan 5% of its toial income in each financial )C4r lo fund means ¢e51ed buT5aries. The School's xholarship aivards recogni￿ high a¢ad¢snic W¢nli&l or the ability io e¥cel in co.Curricul￿ 8ciiviiies. Scholarships are awarded W'ith a fixed remission of beh4.ttn 2.5% and 58& WThtye further assisiwk¢¢ is required. a me8ns ie51ed bursary n)a)' supplement scholarship awards.

BROM5GROVE SCHOOL RF.PORT OFTHE GOVERPORS(Conlinued) STRATEGIC REPORT CURRENTYEAR PERFoR￿lAliCE REVIEW Pupll fiimbers tkspii¢ exi¢mal world"ide tensions ond rfonomic pressuTes. the pupil Toll has remained strong ihroughout ihe year. In the summer tern), Ihe roll Sto￿ at 2,052 pupÈl$12022- 2,001)- The S¢nior Sch(K)l educated 1.038 pupils (2022.- 1.01 l ) of Ivhom 471 {2022: 465) w"¢r¢ IKMrding pupik- the PT¢paralory Sch(KFI educated 525 wpils (2022= 524) of w.hom 94 (2022-. l(M)) iY¢r¢ boarding pupi15' w1￿¢[[01d H￿5¢ educated 288 pupils {2022: 290) and the Prc.Preparat(My School educared 201 day pupils {2022- 176). Thiy year. Iher¢ ha5 been a continued focus on ideninB acces The value of mean$ lested buwrie5 including ihe hardship bursaries amounted to s.￿/,• of income (2022= 5.11/0). The chariiy has also provided ftt a551510n¢e in the fotrwt of scholarships and amied forces discounts. The value of such addilional assisiance w.hen added tv Tneafis tested bumric$ wepresenled 9.70/0 of the charity's total fee I￿oMe. Of Ihe 2.052 pupils educaied at thc 5£hool, 520 pupils (230/•) rcc¢ivcd some degree of financial 8SSiStance in iht fomi of bur$8ri¢¥ xholar5hips. •Tmed f(Y¢w and 51aff di5counl& ISI InsPCCtlon All seciÉon% of Bromsgrove School i¥er¢ inswtgd b>" J l¢yrn of ISI inSPeCiOT5 in earl% Jun¢ and ihe School iTras ihi'illcd 10 anni)uncc thai ull lif oiir foiir ￿h0O15 hJ%'c ￿'¢re jud¥47d a5 double 'lxc¢lleni' b>. lh¢ Indcpendenl Scliool Inspeciorat¥. Thi5 15 Ihe hi¥h¢st P055ibl¢ gr￿l￿g. The t¢aiii of insperlors foiind thai on Ihe quDliTh' nica￿lre5 the). jud£¢ Ihe qualin. of piipils, acaden)ic Rnd oiher achieNem¢n15. and th¢ ¢waliry of pupi15 persoiial deielopiiieni ihaE all four Scliools excelleni. In oddirion. the School Ma5 found io be full). ¢ornplaint iii all areas of cthnpliance I￿ Sch(x)I Si&ttdards. At ille iiftie. The 14eadiiiAsier. Nlicliael PunL tommenied 'll.'e art absolLlt¢li, delighied Ihjt th¢ iRspecliiiii reports proiide indepeiideni werifKaiion of ihe excelleiii tducaiioii and care thki M¢ are proiiding for children aJKI l'oung p¢vple'. Pupll Aehlei'ements From IB to GCSE, Bromsgrwt pupils h&ve ¢h•evtd greal success in public ¢xaminalion5 thi5 )'ear. Bronisgroi'e S¢hool'5 IB averag¢ was 38.0 ￿l￿¢S amd results surpassed IK>ih the UK average of 34.7 and ihe global alerage of 30.2 poinls. One boarder scored a spectacular much coveted top score of 45 poknts - one of only iii'enty," rive 51uden¢s to do so in the UK. A ihird of the iotal col)ort gained 40 or more poiftts (equivalent 10 4 A•s at A level)- 0/0 of all A level and BTEC resulis M'ere equivaleni io A lei'el y&le5 A•_ C ￿,hICh is amM8si the very highest pr(wnion ihai ive have ever seen ai Broms8roYe. Thftt quarters of all grades aw'arded were A• io B, or the equival¢ni. In BTEC, the 73 entries saw 27 Disiinciion. Erades achieied. iogethLY i%ith a fijrther 21 Distinclion& 16 Merits and 9 P&sse5. The pro￿)rtt0n of those achieking ai least a Disiinciiott M'as 66Y Vthen conibined, this Upp¢r Si.Kih cohort oc 210 5tudeni lea¥crs look 681 'main' subiecl qualifications and almost qu8rt¢T iver¢ graded A• OT cquivalcnt and over haif8chieved ￿"ere at an A gTade. Thcse fantaslic rc5ulis enabled 91P/( of our Upper Sixih leavers 10 80 on io iheir chosen uni%'ersity, mos11)' in ihe UK bui also lo some prestigious in51ilUlions atKoad. s￿dentS hai-c actepied places at ¢vei)' single on¢ of ihe 24 Ru55¢11 Groiip universilies. I l•/¢ of 51uden15 ar¢ going to Il'orld Try) 50 univ¢rsiti¢s, including 5 of ih¢ ￿￿orld'S top 10 uni%'¢rsities ii'ith highlighis includivg 51ud¢nls heading lo Coluwnbia Unii'ersity (Ivy League}. Toronto, M(Gill. Oxford and Can)bridge. LSI. IDiperial and UCL. At GCSE. Bromsgrove School's Fifth fromi ￿￿denIS gained just OYLY 36Vo of ￿ad¢S ￿ 8.9 (or A1. Fow siudenl$ gained a full suiie of grade 9& whilsi many otheFS came close io ihi5 rnark. 59% of •ll GCSE entrie5 ￿"¢re awarded al l¢asl grade 7 and o%ef thr¢¢.qvarters w'ere al grade 6.

BRO￿]SCR0vEScl1O0L REPORT OFTklE GOVERNORS (Conlinu¢d) CURRENT YEAR PERFORIIAliCE REVIEW {Conlinued) As ￿'•th academi¢ l>readih. Ihe School coniinues io pride iiself a varied co-curricvlJr PTogramrn¢ aeros$ a kn'ide rang¢ of 5POrtin& cullyral strvice atliviiies. li an￿ber busy )'ear for Drama, NIu5ic aTKI SrK)rt arro55 811 of our Schools and our pupils lak¢ ¢nriehing Or4Y￿unIIleS seriously atwj participaie with enihusia5m and enjoynent. ExIra-curr￿U1Ir ￿￿leMIe pursuits Conlin￿ed io excel. 20 Broms8ro%e 5tu&nts achieved Cjold in ihe UK Maihematics Challenge, 24 pupils were ranked in the lop 15/0 of entries in ihe Biology 01)'mpia4 2 pupi15 achieved Gold in Ihe Physics Olympi8d, Iwo ieams eniered an iniernaitonal Maihemarics modelling challenge, and tm'o of ihe five L4 Computer S¢ien¢e ieams M,ho enieted the Petse Coding c0rnpei1r￿n reathed the fiNI round of lh¢ conipe¢ilion. In the )'eor, ￿¢ have toniinued io keep our t￿dIng houses o￿n in the school holiday peiiod$ ¢0 allow I￿ardets lo remain in sch￿1. (￿r Guardian Angel ieam care for ihe boarders and ￿hlISt this ￿?5 originally e5tabli5h¢d io Iwk after boarders throughoul the pandernic ivhett irnl'el ivas restricied. our knarding community has asked ¢he School to continue io offer this Service. It partitularly popular IA the Easier holidays w'hen many pupils chose to stay at School to Study for examinations and io allend the ￿￿￿tr Revisiort Counes. Dtyelopments IA the >'e4r The Governors recognise the imtKnance of ensuring ¢ha¢ •ll of (wr boarding houses are maintained to the highest st&ndard and are committed io an annual rolling iwding refurbi5hm¢nl progrAiithie. IA the )eAr, the exteiisive r¢furbishmeni of the Page Boarding House was complded_ Thc house coniniuniry are very pleased ii'ith the relurbi5hmeni w,hich has provided neiv bathr￿m& ne￿ Ivrnilure n¢w d¢¢ty. lthis projeci has a150 addressed suslainability aims by improving the ihennal perforn)ance of a large seclion of th¢ I￿11dl￿g ihrough the insiallaiion of n￿¥ external gl&zittB s)'siems and dotsble gI￿ed ivinth)w units. We have also intTrduc¢d a living Ereen wall i¥hich improves biodiversity and pTovid¢s OA irti¢r¢sting feattjre for these young t)arders. In the year. the Governors pur¢h&s¢d th¢ Ryland Centre hn the ￿wn centre. This has secured the provisioii of aihleiic facilities f(ff Currenl and fuiur¢ g¢n¢rations of Bromsgroi'e Sch￿)1. The School is also delighted io have tak¢n over the nning ofthe Sp)rts Cenlrc *hich will <onlinue io provide affordable &vm and fiiness faciliiies lo the local coinniunily. The School will conlinue lo closely with BromggTO¥¢ Cow¢il and Spon England to develop the facilily for the benefit of ihe community. Inv¢5th1eni also took place in ihe Leaming and R￿j￿r￿ C¢ntr¢ thnyugh ihe Fenoi'ation of facilities. provision of new ¢quipment and bvo ne￿ Ccmpuicr Science teaching 5uil¢s. CornpuL¢r S¢ience was intmduced in the 21122 acadeniic )¢ar and ih¢T¢ 15 a high demand ai GCSE. A kvel and IB as pupils enjoy th¢ subj¢¢t and reco8nis¢ its relevance io their The buildillg of ¢he neiy Penryn Hall at Winierfold commenced in the year and this is du¢ f(Y ¢ompleiion in Sunim¢r 2024. This is a very eirifing dei'ekypm¢nt fw the Winierfold community as this proje¢t M'ill provid¢ $181¢ of th¢ art facililies for M115ic and Drdnia a5 ￿¢11 35 providhn8 a ￿onderfUl space for school gatherings and Chapel 5¢rvic¢s. The project will also provide a huge iniprov¢fflen¢ in Sustainability a5 tnajotity ofihe new building's heating ii'ill come from an air sowce heal pump eliminaiing the School'5 current depcndenry on oil. An arvay of solar panels th'ill also be added. Our Ilnks tle local commun5ty The Governor5 4r¢ cornmiiied io developing links w.iih the local ¢(K￿MUnIty b). ixth ¢n5uring ihat our facilitics are vailablE for bse and also by engaging in outreach pro8Tamme5 to SUPFKlrt locjl xhiTrpls. k)cal thildien and Ioc81 The Broniydrove S¢hwl Swim and Tennis Academies are successfully wovidiThg sivirnrning Jnd le$50ns to 1,200 )'oung children in th¢ lo¢al tornmunity. In addition. the sports facilir•e5 in ihe Senior Schwl, Winlerfold and the R)'land Siles have beeTr used ￿g￿larlY by local fooiball. hockey. iennis. neiball and badminton l¢ams. We haye a150 h051¢d the W(YrestershiT¢ Sch(M)l Games this summer w'hich involi'e5 a number of local school5. The G0￿M0￿ 4r¢ •lso very pleased thai the bxal comrnuniry are benefitling from the use of the Arts f#ciliti¢$. An increased number of Iorol and nalional tlLoir& orchesiras and donce groups have used ihe faciliiies in the ye4r. A highlight of ihe ytar has ihe ILOStin8 of a local Onhestra Group each Ibeek wh•ch iJJclude5 pupils fTom Jll of ihe loc?1 primary xhools.

BROMSGROVE SCHOOL REPORT OF THE GOVERPORS (Conlinutd) CURRENT YEAR PERFoR￿lANcE REVIEW{Coiltted) Through Bromsgrove Service. fundraising c￿En1$ ￿%[¢ led by pupils for a variety of loc&1 cAuses incl￿ding ihe Basemeni project and Primrose Hospice. A successful partnership has been forged M'ith ChRdsgro%'e School for childreii ￿1th profound special needs. m.ith pupi15 oftering xi¢ft¢¢ lessons and fmishiiig the >'ear 'iih a celebraiory picnic. OUT Grounds ieam hai'e also suptM)rted Chadsgrove assisling ￿'1th Gardenin8 Clubs aftd Forest Sch(x)l. Other chariiy ventur¢s have included a 12 hour piano pla)'ing marnthon by I pupil, Mhile the IKbys of L)1telion House c)'cled for 24 hours, racking up over 5(KNJkm io cross America (and actually an extr8 fj￿knn) to raise over £3,600. Another £2,(x)o for lh¢ Matt Hampson Foundaiion ￿a9 raised by U6 BTEC Business plAtminE artd deltVLYing a ranEe of evenis including an escape r(K)m and an online auclion. The Young Enlerprhse tedm Monito. with iheir pr￿￿¢( trying lo help children lo develop acumen, progressed from winning the award for Besi Produci in De(ember lo being crowDed VK Clwijpions and Conipany of the Year. O%'er IW pupils cnrolled onlo the Bronze Duk'e of Edinbur8h Aard ihis )'ear. 23 U6 pupils successfully eonipkied their Gold AMard this >'¢ar. Coll¢cliv¢ly, Brom5gtoi'e DofE pupils hai'e compleied 3.711 hLwrs of conimunily service over the )'¢ar, ii.hich ran be ¢al¢ulaied io have a'social value. of almost £18.(KK). Our commSlmtnl lo the En￿&T0￿ment The Governors and ihe Execulive we committ￿ kn imwoving ihe School's carbon f(Wint. The tabks below show the ke), n)etrics thal are being r¢wirted for StreamliJKd E￿ and Cth ReixK1ing in the financial yeu endinB 31° Au8usl 2023. Summry Data for FY it• Seplember21 ￿ 31 August 23 Valut Toial Energy Use 9,366.500 kwh Total Grttnhou5e Gas Emis5iODS (mondatory & volunw) 1.192.6 ICO2 Toial Swdents 2,052 Intensity Ralio 0.58 tC02 per s￿dent Arta of le•sr¢m¢nl FY 11¢ Stpi 20 10 FY lif Scpt 21 to 31"A 22 FY I" Sept 22 to 31" Au 23 VA Tixnte to r¢Trious 'ear Energy Use 12.196.1 Mlvh 9.743 2 Mwh 9J66.5 Mll J.9 /( de¢rt4st Grttnhou5e Gas Emissions 1.757.2 ￿01 1.283.9 tC02 7.IY• derrease .192.6 ICOI Intensity Ratio 0.90 i(02 per 51udenl O.fA ICO? per $iudeni 0.58 IC02 per 9.3 •/• decrease li is clear from the above table that there has been a fufiher deciease in emt55ion5 kn ihe >'ear as a r¢5uIt of a cornbivalion of the iniplenientation of energy ¢￿￿1¢nI projecis and a conimitment by ihe Schwl community to reduce our carbon fooiprini. The above figiire5 exclude our ¢le¢lricily ¢onsuniOion as all of our supplies conie from ren¢￿'able sourcf 5. However. li should be noied ihat our electricity ysase re￿r¢d by 9.P/• in lh¢ )'¢ar which is an oulsianding re5uII. Th¢ various Susiainability projects in)pkmented thi5 year include ihe inlriKluclion of solar p2ntls on the Dining Hall roof, l.F.D I1￿hling upgrades. new air source heal pumps io replace iraditional IKsilers. further laggivg of pl2ni rth)Ins. inipro%'ed BMS control for Ihe healing of buildings and the addiiton of eleciric charging ￿1￿15 in the car park5.

BROIISGROVE SCHOOL REPORT OF THE GOVERNORS (Contlnlled) FUTURE PLANS The Governor5 togdh¢r w¥¢h the Scljwl Exe¢uliYe are comfflilled io enswing that ihe S(hool con¢inues to provide a first IB55 ¢duration to all of ils pupils. All stral¢gic d¢i'¢lopmen15 are committed io niaintaii)ing the Scliool's p05iiion in ihe ¢{Kn￿lItive markei ihat il 0￿rat¢s. The achiei'¢ment of high standards of academic resulis and the develowieni of ihe School'5 faoililics are imp¢rati%'¢ to the SchLKbl's con1inu￿ success in ihe long Temi. The Governors and thr Exffutiv¢ have recently Teviewed the SclKY)1'5 Strategic Plan and confirmed ne%% objeclive5 for Ihr next )¢ar.- Senknr School •c#demi¢ olftT To ¢oDtinue to revieiy ihe Sixih forTn and GCSE academic offer. Ali)ngside the curriculum. the School w'ill seek to expand ihe opponuni¢ie5 for pupils to dei'elop ¢uriosit)', cltativiry aJ)d ch811enge ihrough exiernal links. a%%'ardx and ompclitions. To proviije more opportuniiies fly pupi15 and departmenis lo leam from one artoiher. across ihe Bronisgro%e Carnily of schoo15 and to become a (en￿¢ of ekcellence in the us¢ of digiial resour¢¢s for learnin8. comfflunicatioii. Collat￿raTIo￿ and creaiivity. Ile¥ltk & Ivellbtlng "ro further Mtegraie healih and well-being wovisrM$ io ffihan¢e ihe tKovisp)n for pupil5. Prepargtory S¢hool seademle otkr As part of IXLr ¢onlinued review of th¢ xademic offerin8 lo enswe excellence. a revI￿V of aliernaiiye acaden)ic progr#min¢5 1%'ill be cornpleled A number of aliernalive existing progranimes will be reYieed includiJ)g the Prep Ba¢calaureate but consideralion ii'ill a150 be given io deb'elopin8 a bespoke tlronisgrove olTer. The exlra curriculum activities programme will akn be reviewed io consider fvnher iniegrniioii with the acadtmic prograrnme. Winterfold Performing Arts To build a nei%. rnodern siale of ihe an hall proi'tding faciliiies for Music, Draniq M￿S &Trd oihcr School gaiheriTrgs- Winierfold has a lon8siandin8 reputhiion f(K woi'fftding ouistsnding Music and wportunilics for pupils and ihe aim of this project is io dei'elop these faeiliiÉes io move this key a4tci of the Seh(K)l on Io an even higher level. Prepgr&lSon for A posslble ¢hAtt2e Its GoYermJme•i To continue to monitor d¢velopmtnts lo ensvTe that the School is fulb. prq)ared for a change in go%ernment and the 1)0ssible removAI of¢¢rfain lax relicfs and <hanges in VA T le8islalion. Tr School 'ill endeaytwr to support our par¢nlS iher¢v¢r possible lo ensure thai Ihe School remains acce55ible. The Gol'ernors w'ill a150 ¢OllSKI¢T ￿h¢th¢r consultation is ncedcd w'ith the aboui moving from a phased ii'ithdrawal io a f¥ll withdraw71 from thc T¢8th¢rs Pension Scheme. KD%lro￿￿Qn1xl, Soclal and Gw'ernance (ESG) To consider all aspects of ESG and 4k¢lop further plans io cnswe ihat the School has aspiTaiional aim& Specific plans are detailed o¥¢rl¢af.

BROIISGROVF. SCHOOL REPORT OFTHE GOVERP•ORSICoNli#utd) EnTJ'lrnnmtol: Tr School h&% an Ertvironmenthl Sustainabilil). Plan ivhich Cocths¢s M four key piltars being lh¢ dechrlKJnisaiion of the ¢siatt, i%'8ste nJanagemen( trAnsiKTrrt xnd the Sch(x)I's nalural cA¥ironincnl. Speeir iDitlalii'es planned for the )'tar includ¢ the considcration ofsustainablc energy supplies for the SFK)rfs Cenlr¢, the introdutlion of grten healing And lighiing soluiions in ihe new. Ptnr)'n Hall. further fo￿1 M'ostc nlanageineni improvemenis by our ¢at¢rinE parther Holroyd How¢ artd ih¢ in1r0d￿CtIOffj of furfher ele¢tri¢ School v¢hicl¢s and equipmenl. Soclal.. The School is exploring nem. iniliali¥es io devclcp further links and partnerships iviih ihe local conlniunily. The usc of our fa¢ililics by the locAI ¢ommunily h8$ incrcascd 5ignificanily in ihc18st year and ive Ivill tnsure iha¢ go￿ rel*ionship5 we m#inlaiJ)ed M'ith a view. lo increasing use further. Coi'ernante: To ensure that ￿tMance is of the highe￿ quality to produce the besi ouicomes for pupil curreni and future. HMCIAGBIS Good Governance accrediiaiion will be toinpleied by the end of the 23124. All Goi'ernors ii'ill undertake rtgular and rtlewani trllining aftd ih¢re M'ill be further regular opw)rtunilies provided for Gov¢rnors io lisit the Sehool. an¢nd tvtnts and m¢¢1 slaff #nd pupils. 10

BROIISGROVE SCHOOL REPORT OF THE GOVF.RNORS(Conlin•ed) FIYANCIAL REVIEIV AND RESULTS FOR THE YEAR FlnAnelAI Performante The School achieird TLei inc(Mne before imtsunent kisses of £3265k. which is £126k I0￿er ihan the rffior year. In the )ear. nei fees irKreased from £37.927k TO £39.11)9k. an increase of £1.982k (50/0). This is aitribuiablc to ihe Governors in¢reasin8 fees by 5Yo in this academic )'ear. As many parts ol the School are continuing x) opcrate at full capacity. the fee income has not been aifeded by a change in pupil numbers. The School's trading income increased by £97Tr in ihe year. This grO￿￿h in incorne is exlTemely pleasing #nd is attributable to the success of our International Summer School and our lellings progrwnme. In ihe y'ear. there was a Significant increase in new leNings for the Music. Iknma and boafdin8 faciltiies from naiional and local arts associaiions. The ¢ontinued iniere51 by our familie5 in the Ea5ttr RevisitM) courses and ihe Guardian Angel holiday care hatre also ¢oNlribut¢d io ihis BYow1FJ in ￿¥¢n￿¢. Totsl Srhool ¢xp¢ndihW¢ has in¢r¢4sed by 8•/• in th¢ star. The nhain CoDthD￿lfftg fa¢ior io this incr¢as¢ 1$ ihe impact of high infla¢ion. W¢lfar¢ costs hav¢ in¢r¢a%d by W• du¢ lo high f￿1 and tran5wrl 105ts. Premi5¢5 C051$ hav¢ also iiicreased by 90/0 due lo an incTeas¢ in fnergy costs. Whi151 energy inflwlion 15 cury¢nil)' running al a much higher Tat¢. ¥se M'ere fortunate as Me had fLx¢d many of conlracls ihr¢e J'rdrs ago and it w'as the smaller of our two ¢l¢clricity contrdcls that renemed in the y.ear. Teaching costs hai'e also increased by 7010 due to the addiiioTr of four new leaching siiions. the annual pay aiiard of3.5 /• and some excepiional cover costs due ￿ long temi sickness. Our tnding subsidiary receives the franchise fee from ￿0M$S￿)Ve Intern&lional Schwl Th&iland and Mi$5ion Hills. Shen7.hen. These ftes ￿tre received in the )ear and the company w'as 8ble io coniTibute £435k to School funds. (2022: £384k). Ilrorn$grov¢ Sch￿1 Foundalion gtneraied *et income befoie investmtni gains of £126k, during the year ended 31 Augu512023 12022= £62k). Tht Found￿10￿ receiTh'¢d hvo legacy donaiions irt the >'ear. Unless, don&ions are resiricted. Ihe fvnd5 rJi%d m.ill ¢ontribule to bursjry a￿"ardS lo pupils of Brorn5grov¢ Srh(K)l in ihe futur¢. De5pile ihe turn￿11 in stock TTrJTkets due ¢0 w'(Ykl ien5ion5 and the deferioTrtTron in the e¢onorn?¢ outlwk. Ihe School's in%e51ment5 reniained slable in the )ear. The school'5 in%eslments siood al £6,923k a¢ the end of ihe year. a IVO incr¢a5e on the prior year. After %arious movemen15 in ￿orKIng capiial, the net cash int10￿. from otKralion5 amounted to £4.8(M)k. compared to £6,498k in the Prior year. The nel income befor¢ invesThent gains adjusied for depreciation aniounted to a cash ififiow of £5.133k. La51 year. there w'as a signiftcant cash flo￿, bellefii due io the timing of pa)'menis to conrractors for N'orks compleied in ihe sumnKr holidays this kas happened this >ear. The School's ¢a5hflow has perfomed in line wilh the School's pioieciion. In 2021, Ihe (iovemors Il'ithdre￿. from the Teachers Ptttsion Seherne {I'PS) on a phased basis. An aliemaiive Defined Contribulion Illorkplare P¢n5ion Sch¢me ha5 be¢n Intr￿￿¢￿ for 211 teachtrs joining the School fr<)m I SCplcmt￿'r 2021. Teachers emplo)ed al 31 Augusi 2021 have been offered ihe Choice of remaining in the TPS OT trarbsf¥rTing lo ¢he School's new sC￿Me. At 31° Augusi 2023. K'e had 55•/0 of our in TPS and 450/0 of our staff in the DC Scheme. Wilh ihe 502ty increase in the TPS employer ¢￿tri￿￿tIon rate (Tom A wil 2024, the Governors are pleased thai Ihey have taken this action to PToleci the long le￿ finaTrcial viability ofthe School. Invtslment Poliry And Performanct The Governors are perniitted to hold a wtfolio of inve51ments. The g￿ldance 8ii.en to the Invesmieni Advis￿S wilh regard io equity invesiment is io balance growih and incorne iviih a medium level of risk. These objeciives are to be achiei'ed by investing prudenily in a broad range of fLxed interesi securities and equities ¥.hich are quoied on recognised Ini'eMn)ent Exchange and unli inbsis and OEIC'S [O￿Tr ended inveslmeni companies) ￿,hiCh are authorised nder the Fitiancial Services and Markeis Aci 21MM).

BROMSGROVE SCHOOL REPORT OFTHF.GOVERN'ORSIConliNuNI) FIANAfCIAL REVIEIV AND RESULTS FOR THE YEAR(Contliutd) All fiinds are invested in managed chariry inveslmaji funds. The SchoDI's fuThls are invesied in the CCLA Chafiiies Ini'esiment Fund and the Sarasin EndoMmeni Fund Class A. The Foundation's funds are invested in the CCLA Chariltes Ini'estmeni Fund. The Investn)elli Committee continues io moniior the ￿TrOnna￿te of these funds a£ainst niarkei benchniat&'s including the P(ivate In%'estor Balanced Index bertchmark ol'er a rolling thr¢e->'¢ar peri￿1. The Tot81 Return generated by b￿h funds was in line wilh the m￿.el ￿nchmalk for ihe ￿•tid from inceplioR. Reserves Polic> The Governors rec(wiise that free reserves Are ihose vnrestricied revrves w'hith art nol s￿(IrIc711ty deSig￿aled for any pllrpose. The School's ￿nrestrICted reger%'es are iiivesied primarily in fi_xed assets. Ivhich are recorded in ihe financial siaiements at book i'alue. Th¢ Governors hA%'¢ invesied significanily oyer lhe lasi re￿ J'eaTS in capital projecls enhancing the School buildings and facilities for the benefit of th¢ childr¢n being ¢ducated. Due lo ihis significant in%c51mcnt by the School, the free res¢r'¢s Ar¢ n¢£otiv¢ w the ¢UfT¢nl lime. Total Funds 72.387.396 Less.. Restricted Funds {17.697) Less.. End0￿￿en4 Funds (570.828) Unrestricied Fund% 71.798.871 Less: Property Funding (75.535.282) Free reser¥es (3.736,411) Prior Year (3.100,578) The Goi'ernors keep the l¢v¢l of fr¢¢ reserves under r¢vith4'. Despiie this negaiiye rrfjsilion, Ikey are confjdenl thai the School's ¢4shflow' for¢¢astS and external f￿ance f8cililies are sufficient to me¢t th¢ (wrational needs ofihe sch￿1. The CJovemors' Wblicy ts lo focu5 on the level of liquid assets that SUPPOrt ihe UnTeslricted ff sm'es. To mitFgate against rulure risks. the Goi'¢rnors belie%e ihat ihe Sch￿1 should hold sufticieni liquid assets lo cower ihree io six monihs. ￿ollh of e.xpendilure. The aim is io t ablc to support the ￿'0￿ing capitsl needs of ihe Scknl w'ithoul needing to dispose or Ihe School's land or buildings in the medium iemi. The Governors. poliry is to hold liquid assets represeMig thr¢e to six monihs of ex￿ndT￿re (£10.2Tn - £20.4Tn). The School's inYf5ttllcTr15 ar¢ held io provide inrome and rapital gromlh and Js t￿Y ar¢ not desIg￿dIed for a specific PUTP05C. th¢). ar¢ viewed to ￿ liquid a55d5. Based the currenl rnarket prire of the investhnts Jnd CUfT¢nl c5h bJlanc¢5 at 315T Augiist 2023. lh¢ School's liqutd a5%ts arnounied to £12m (2021 £14m). The Governors moniioT ihe School's liquid &ssefs, the fa5hllow' forecasis and levels of eNierng1 financii)g on a tennly basis ai ihe frinance Con)millee. I he curreni strdieg) is to funher increase ihe liquid asseis oi'er ihe mediuni ienii due io the uncenainty ¢ki8iled in the Risk Managemeni seciton of this rel￿. Assel eoier for Note 12 of Ihe financial 5talemNttS Sets out aTr analysis of the School's a5s¢ls aliriiwlable to ihe Various funds. These &ssels are suffKierJi io meei the School's obligaiiorts on a fund b> fund basis. 12

IIRON1SGROVE SCHOOL REPORT OF THE GOVERNORS (ConilTrued) FIIYANCIAL REVIEW AND RESULTS FOR THE YEAR (cl￿(1￿￿ed) Fllndralslnl Polic>. The Sthool th)es noi undertake fundraising for the financing of capiial invesimeni. All projecis w'iihin ihe School are funded from Sch￿1 resources w'ith extemal bank fthancing as and when t)ecessar)'. Tht Foundation's objecti%'e is io raise funds uliimaiel>' io enable the Sch(Kg1 io ￿￿'Ide places to all deserving pupils on needs blind basis. This is a long iern) anibiiion Hhich has a focus on friend raising raihei Ihan iargeied fundraising. li 15 intended ihai gentle appeals are made to all those with a conneciion io Bromsgros'e School ie: alumni and paren15 Ihrough A fuLdraising programnie of encouraging fftaj￿ gifts. regular giving and le8a¢ies. This is sUP￿rted by programnie of nort-fundrahsing eb'ents designed io encourdge interesi aAd involtremeni iyiih ihe Sch(M)l. External fundraising comp￿leS ar¢ Jwi wsed OAd th¢ Fourtdation does Mi Rrti¥¢ly thndraise thmugh iargeied appeals or ielephone campaigns. The School hos rtttived no ¢ompl8ints Ttlth 10 fifft(knisithg irt lh¢ year. 13

BRONISGROVE SCHOOL REPORT OF THE GOVERJYORS (Coiln¥td) RISK hlANAGENIENT The Governfftg Body eonducis a fomial review each tem of the ￿hOol'S Risk Regisier. The School's ExeC￿li￿C idenlifi¢s Iht major risks to Mhith the S¢h(K>l and ils r¢lAled organi%ations art exposed. The School Execthtiye and the Sub Committ¢¢ Chairs ￿vIew. th¢s¢ risks on a rolling basis. Miligation Ènd c(HJtroI procedures are pul in place as necessary. This proredyre 8nd the Risk Regisier hs rewiei%ed by ihe Risk and Straieg) Conimitiet each tenn w)d recommendations are niade to ihe Board regarding confirniation ihai s)'slem$ in pla¢e io provide reasffi#bl¢ Assurartc¢ Ihat major risks are being adequately managed. The m05t 5ignificanl risks for ihe Schcol are detsiled below:. A decllne In¢ernAlh)nal l>o&rdln8. A key risk io ihe School 1$ a ￿d￿lion in the number ofboarders ￿$￿117n8 in a rethiction in the Sch(d's fee income and ¢onsequeniial Pressures on cash flow"s. Ivhilst ihe pupil roll at the slart of ihe 20?31204 academic )'ear is exccllenl, the School is concerned abour the longer lemi impa¢1 of iYorldide iensions on ihe intemaiional boarding community and Ihe thr¢at ora high￿ number of leadin8 Boarding SchtKbls Com￿17ng in these marke1& Ille has'e a number of n)iligalion 5trat¢gi¢5 in place including wntinually a5g55ing new Ma￿et 0￿￿rtunItIeS and sUp￿)nIng existing agent relationships Ihrough ¢duralional int¢rnalion&l ¢N¢uts. We w'ill also ￿¢K to rontinually develop the high level of pastoral care pro¥id¢d to our ￿ardb￿8 ¢omrnunity, including wrfjuardian Angel piogrnnme to maintain our reputation. The politkal lalldKape In the UK The Governors aTe a￿are of the possible challengt5 that a ¢hange in Gol'ernmelll wukl p)se regarding ih¢ loss of chariieblL I￿allon reliefs. 'Ihe School coniiJ)ue5 to feel that il 15 in a strong p05ilion in defending its public benefit due lo Ihe extensive bursary and outreach wgTammes. However, the Governors Ire wepa¥ing for the challtngtt of possible changes in government PK)licy. includiiig the K)55ibilily of tht Intr￿JUt17Q￿ of VA T on school fees and hsghei business rates. lthe School il'ill endeavour io seek cost Sayings o¢her viitigalions to a55i51 in 5UPPQrting par¢nls ¢0 allow their thildieft io coniinue io benefit from a education at Brom58ro)'e School. In addition. Ihe School continues to be concerned a￿￿ut the impJ¢¢ of high I￿nation th¢ S¢hool'$ ¢o$i base. cauiious approach Thill be adopted M'iih resard k) dixrdionary eipenditure and ad¢qu&¢¢ ¢ash ￿serVeS iyill Ix mainiained. The Finance kam will continue k) monilor for¢ca515 and ca5hflow lighily. EDI Recent pupil surv<)'s ha%'e show'n thai the iTrclusi%'e and respeciful CL¥nmunity ai Bromsgrove is highl), valued by ihe pupil knd). How'ei'er, ihe School recognises the challenges ihai some aspecls of EDI place on ihe School and in particular oft our single sex Boarding H(￿SeS and DA), Houses. In ihe nexi y'ear. Ihere ii'ill be further considerdiioThs involving ¢onsulio1ion with the Seh(M)I comft)unity.

BROMSGROVE SCHOOL REPORT OF THE GOVERNI ORS {CoDtINued) STRUCTURE, GOVF.RNAlCE AfD ￿lAlYAGE￿1E￿T GoY¢rning t)orurnenl The Charity is governed by its M¢ThoTJTthrn and Arfi¢ks of A550¢ia¢ion wi5inB frorn in¢(WTatiots in 2W3. &$ JTh¢nded on 4 Oclolxr 2015. GoTr'ernors and profe55iong14dyiserJ A li51 of Govemors and prof¢ssion41 adviser5 ¥pp¢Jn on pages l and 2 0Cihis T¢PDrL RecrMilme￿I ind Tr•ininK of GoTh'ernors The Charity'5 Governors are appointed at a me¢lin8 of the Board of Goi'ernors follo￿Ing a Selection PTOC¢SS and reconimendalion froTll the Governance Commillee. The Go￿¢MIng t￿Y rwir¢5 breadih and depih of experience to cary out ils dulles effectively. recruiling new Governors. the Governance ConU￿•ts¢C tske5 ilito consideraiion eligibili￿. per￿n81 compelence. specialisi ski115 and availabiliry. New Governors are induckd tnlo ihe wo]ings o(ihe S(hool. incl￿dINg ihe prov•sion of key inforniaiion covering Doard polic). Scknl eihos. straiegy and fmancial inforniaiion. All GO¥en￿rS are enc(NJraged io allend training courses and wckshops organised by specialisi school organisaiions. All Governors giwe of the￿ lime freely and no remuneraiion was paid in ihe year. No Goi'ernor or ￿rstsn connecied M'ith a Go%'enM)r received any ￿nefIt from eiiher nieans tesied bursaries or stknol8tships •wotded io our pupilk OrganlsailoDl hlaD•Rem¢nl The Iloard of Govemors, 45 the trusites of the Charity. is rt5ponsible for the overall m4n¥gemcnt and ¢onlToI of the School and meets al leasl three limes a year. The principal re5pofflsibilities of the Board are t F.nsure ihe School is run in accordance w'ilh ils charilable objecti¥es 8￿j that 811 Ihe functions of ihe S¢hool are ithoiistd by the proytdcd by 115 51alu1¢5, regulations and by cornpany arml chaiity law To apw)int the Ileadma51er To Sel, in ￿￿S￿liatIon iih ihe Headmaster and the Executive of the School, the Str￿e8Y and ￿lIcIeS by ivhich Ihe School will be run Approve ihe Sch(￿1 Development Plan CoTblrol finance by approving budgels and longer-term pla￿5 and by approying systems ihat oplimi5e the chance5 that ihey ivill be achie%'ed and approying all major capithl expendI￿re. Ensure thai compeieni professional advice is tsken necessary. The ii'ork in ¢he¢kin& the Str4tcgy and poli¢ies are being ¢tyTedly ¢Tied is Frfornied by ihe vwious Committees of Gov¢m¢)rs as sei oui ￿tOlY. Finance and Property Commitiee htch deals with financial policy review of budgets and financial slateinents prior to approi.al by the Board FAluration Commille¢ .hich deals wilh ¢du¢alional Jnd T¢lat￿ OPXTJtionAI i55Wes and brin85 recomm¢rthtlQlls and concerns iiih r¢gard 10 such matters to ihe Board Buildings Committee- Ivhich considers and rnorilors major build and Tefiwbithmen¢ projects M'ithin ihe School Inyeslment Commitiee Ivhich receiies tennly utmlales on ini'e5tmeni and tKrfornwKe fmm ihe Inveslment Advisers and rep)Ms ihese mallers to ihe Board. Gov¢Tnance Committ¢e - Th'hrch considers ¢apability gap5 ivith r¢gard lo ihe ¢(mposilion of th¢ Board and makes re¢ommendatiOllS f¢8pTdiTr8 W¢Mial new Bo•TqI memb¢r$ 15

BRONISGROVE SCHOOL REPORT OFTHE GOVF.RNORS{ContiNued) STRUCTURE, GOVERNANCE AND I%lAN'AGEI%IENT{contiiued) Trl¢alth & Safety Comrnitlee- this ensures that th¢re are adequale policies and Procedure5 in place to ensure ihe health and safety of all pupils and siaff and to ensure ihai ihe Sch£￿1 complies ii'iih all legislaitve changes. Risk and Swale8y Committee - Hhich asse&ses the managemerti or all risks efftcouniered by ihe Schth)l and mainiains an oersight of the implementsiion of the awed strdiegÈc aims on the ￿haIr ofilit full Board. Swf¢guarding and Il'¢lfar¢ Commill¢e .hich assesse5 ihe management of all safeguarding pastoral ¢onirols 11'iihin the School Eh ¢onimitt¢e nomially meds b¢foTe ihe main Board mttlings. The membership of the commiltees is supplemenied by Sen1￿ sthff ai ihe S¢h(KJl and by exiernal 8ptrt)irslments. The da)'_Io-da)' running of the Sch￿1 15 delega￿d ￿ ihe School Execuiiie. The School F.Kecuii¥e (kcy managcment) coDipri5¢s of The Il¢admast¢r (M Punt), BursaT (L 13T￿L'e5), Asstslanl Head (R ScannellA ihe Headmaster of ihe Preparalory and Pr¢-PTeparntory Schoo15 (M Marie) and the Headmislress of M'interfold House School {D Toms). The membus of the Go%'emance Committee have reswisibility for re%'iething ihe remunei81ion for the niembers of ihe Executive on an annual basi& The Governws aim to enstsre ihal pay lei'els are consistent ii'iih the maTkei iTr'ilhin th¢ independent school sectorand use benchm8tking data from professional asS￿la11￿￿$ such &$ AGBIS io guide th¢m. The Sch￿1 Executive consults w'iih all emplo)'¢es ￿ a regular b8SiS $0 thai their Yieiv$ ar¢ tsken in io 8¢¢ount ￿ making decisions. which are likely lo afyecl Iheir iniert￿S. Information 15 shared M'iih ihe learhing slaff and ihe suppDrt 5toff on 11 key School developments chan8es including the financijl an(1 ￿OnoMiC fyctors ¥ff¢cting Ihe perfoTJDanr¢ of the School. The fjol'ernors ￿￿ularlY rn¢el M"iih senior staff ihrough ihe Sub Committees and monilor comniunicaliolls w•thin Ihe Sch[￿}. GTOUP Struclure and RelYéliDn5hip5 The Charity has & ￿hollY-o￿￿Kd non-charitable wbsidiary. Bromsgrove Sch￿1 Enteorises Liniiied. Whose aciiviiies and trading perfonnance are dixussed below. The Charity also holds under trusi cenain etKlo*ed fvnds under Charity Commission schemes.. the Society of Friends Trund and ihe David Waliers Fund. The iernis of ihe schemes are such thai ihe income is applied for the b¢ntfii of PLbpiI$ and fomier pupils of the sch￿1. The School 1$ the sole mernbcr of Br(Knsgm%e kh(x)l Foundation, a chJriloble limiied by guarantee. The objects of the rompany are ¢0 proniole and advance any charitable purpose connecied i%iih BToll158ro%'e School aiid lo prwnote oth¢rtducalional purposes for ihe benefit of ihe hxal ¢omrnunity. The School has eslabli5hed inlerna¢ional links under licence a8rttm¢nts wilh Bron)s8rove Intemaiional School Thailand and with Bromsgrove Sch￿1 Mission Hills, Shenzhen. The Headinaster is a member of IIMC. The Heads, CMference which provides an op[￿￿nity to share expertise and know.ledge acros5 the independenr school secior. The Conference also penniis apprwiaie represeftiaiion io Government and regUlai￿S of ihe viei¥s ofihe secior. The School also b¢nefiiS frorn close link.s M'ith the Altsi￿nI. Art A]un￿l Coinmiiiee. ii'iih repr¢senl8tion froin Old Bronis8ro%'ians, the Foundation knd the S¢hooi has r¢¥rfynsibilily for engaging li ith Old Bromsgrol'ian 16

BROMSGROVE SCHOOL REPORT OFTHE GOVERYI ORS (Cohllnyed) STATEMEiYT OF GOVERh'ORS' RESPONSIBILITIFS The Governors {who tre Also ihe fnjstees and direct(xs of the Chariiable company) are responsible for preparing the Report of ihe Govemors, iDcluding ihe Strdl¢gic R¢iKrt, and th¢ fthancial siatemenis in accordance ii'ith applicable lai¥ and United King&)m Accounling SiandaTds (Uniied Killgd(￿ Gen¢r4lly A¢c¢wed Ac¢ountin8 Practice). Company law requires the Governors lo prepare finwnci41 stai¢m¢niS fty ¢a¢h financial >'ear w.hich gii'e a lrne and fair vie1¥ of the slate of affairs of Ihe charilg4ble company ond th¢ gr￿p and of ihe inc{￿1n8 resources and application of r¢50urces, including the incom¢ and ¢xp¢ndilur¢, ofthe charitable company and 8roup for that peri(d. In preparing ihese rmancig41 statemenls, Ihe Govrn Hre reqwir¢d k>: Select suitsble accounting w>lici¢s and ihen apply them ¢onsi51¢nily: cknsefve the meihods and principles in the Charilies SORP- make judgmenis and accouniing eslimates that are reasonable and prudenl" stale whciher 8pplicable UK Accounling Standard5 have been followed. $ubirfi 10 ony m¢rial d¢pon￿r¢S disclosed And explained in the fin&ncial slatemenls- cparc Ihe financial ￿a￿me￿i$ on ihe going concern basis unle55 it is inappropriate lo presume ihai ihe ¢haritable r(Mnpxny will cont￿￿¢ in lyjsiness. The Govffliors #re re5pp￿Sibk for keeping pffwr accouniing rttords disclose ￿'•th reasonabk accuracy at any lillie of the fiwTraDcial PD5ition of ile charitabl¢ rompany and tnablt them lo ensure ihai ihe financial 51aieinents coinply w.ith the Companies Act 2006. They are also we5Wn5ibk for 5af¢guJrding the assels of th¢ chariiable company and ihe group and hence for tak'ing rewnable steps for ihe wevenlion deiection of fraud and rfher iTTegularilies. So far as each of the Go%ernors is aware al the lime ihe report 15 aFvroved.. There is no releyant audit 1nf0nnatiL￿ of M'hich ihe ¢hJrilable cOmp3n￿5 JvdiloT5 Jre un8ivart- a￿1 The Governors have iak-en all sieps ihai ihey oughi lo have taken to make themseli'e5 of any r¢levant audii infomiation and io e5thblish thai the auditors ue I￿.are of ¢hal infoTma¢ion. AUDITORS Haysmacintyre LLP have txpressed their willingne5S to coniinue in office as auditOTS and a re501ution prop05ill8 iheir r 8prK)iniment will be stsbmined ai ihe Annual General Meding. ITr 4PPTOVill8 the Report of the Governor5, tht Board art ly) pproviÈ)g the Straiegic Repon coJ)tained herein in iheir apa¢ily a5 ¢ornpaDy dirffior> Apw)vtd by the Board ofGoYernors of Bromsgfove School OTr I l January 2024 and Signed on its behalf by- Ch&irnian 17

INDEPENDENT AUDITORS, REPORT TOTHF. ￿1F.￿lBFRs OF BROI¥ISGROVF. SCHOOL Oplnlon We have audited the financial siatemenis of Bromsgrth'e School for the year ended 31 August 2023 ￿h1¢h comprise ihe Consolidated Siatemeni of Financial Adi%'ities, the Gr0￿p and Charity Balance Sheets, Ihe Consolidaied Cash Floiy Stst¢m¢ni and the notes to the fthan¢ial siai¢m¢nis, including a summar). of si8nifL¢ant ac¢ouniing policies. The financial r¢porting franit%%'ofk thai has been applied in iheir preparati(￿ is apPI￿ab]e law. and Uniied Kingdom Accounting Stsndards, intluding Financtal Reporting Standard 102 The Financial Reporling SI￿ndard applicable in ihe UA ond Repiiblic oflreland(Unii¢d Kingdom G¢n¢rnlly Ac¢¢o¢d A¢¢ounling Pra¢ii¢e). In our Opbnion, th¢ fmon¢ial staiemen give a tThe and fair view of the stale of thc group's and of the parent charitable comFony's alTairs as ￿ 31 Augusi 2023 and of the group's nel movement in fu￿1% including the income and expendiiure. for ihe )'ear then hai'e been property prepared ￿ accordance w'ith Uniied Kingdom fjenmlly Accepted Accounling Prnctice; a￿1 hai'¢ been prepared in accordance wilh ¢he T¢quirements of the CompanTe5 Ad 2006. Basis for opinion We conducied our audit in accordance wilh Internalional Siandards on Auditing (UK) IISAS IUK)) and applicable law. Our responsibilities under those 5tandard5 are further described ITr ihe Audiior'5 re5poNsibilities for ihe audil of ihe financial siaiements Section of our report. We are independent of ihe group in accordance wilh ihe eihical reguir¢menls Ihgi are relevani to our audit of ihe financial stsiements in ihe UK. including the FRC'S Iihical Sthndard, and li'e h&ve fulfilled our other ethical responsibiliiies in accordance w'iih Ihese requirements. Ille belie¥e ihai ihe audil evidence we have obiained is sufficient and 4pprwiaie lo provide * bLsts for ouropAnion. Con¢luslons relating lo golng eontern In audiling ihe finanetal Siaterncnts. we hav¢ eoncludtd ihai the Governors. use of ihe going cortctm b&%is of accouniing in ihe pr¢parJlion of the financial 5tol¢ments is appropri81e. Based on ihe ii'ork we hal'e PErformed, He ha%e not Tdentifigd any Traterial uncertaiftties r¢l81ing io eYeniS or condiiions that, individually or Colleclively, may casl 5ignifKant on ihe group's Jbilit). lo conlinue a5 a going concern for • riod of at least N'¢lve monihs from y'hen ihe fmancial ststemen15 are auihori5ed for issue. Our re4>onsibilili¢s and ihe re5poTrsibili¢ies of the Governors wilh resFYct to goins concern are described in ihe relevant seciions of thbs report. Other inform81ion 1The Govemors are re5tx)nsible for the other inforniation. The other infornialion comprises ihe inforniaiion included . the Re￿rt of the Governors. Our opinion on the fthanctal llaiemertis d￿5 nix cover the other infonnaiion and, except lo the exlent othen¥ise explicitly sthied in our repiffj ￿'t th not expr¢ss fonn ocassufance conclusion thereon. In ¢onne¢iion M'ith our aLMlii of the fuwieiAI S￿leMen￿ our r¢srthsibility is io read the other inforniaiion and. in doing so. considcr ￿h¢ther ihe othcr infornTration is niaicriall) intonsislenl ihe fthancial staiemeiits or our knoM.ledge obthincd in ¢hc audit or othcTh'is¢ appears lo bc materially misslaled. If ￿¢ identify suth n)at¢rt&l inconsiste4Kies or apparcnl mderial misslat¢menls we ¥e rcquired to d¢ltmiin¢ ￿'hether there ts a material nii&stAiement in the financtal slatements or a malerial n)isslatemen¢ of ihc oiher infornialÈon_ Ir. based on ihe work ibe ha%.¢ p¢rfornied, M'e conclude Ihai there is a malerial misslatement of this other infomolion. lie are required to rtport ihai facl. Wc hÉv¢ nothiiig io Teport in this regard. Oplnlons on Dther malters pres¢rlbed by the COm￿nIeS Att 21)06 In (wr opinion. b8s¢d on ihe WQTk und¢nak¢n in the ¢owrne of ihe audii: the inforniation gii'en in ihe Rewrt of the Governors (ii'hich i￿ludeS Ihe stralegic report and ihe direclors, report prepared for the purFA)Sts of tompany lam) for ihe finantial )'tar for which the finaiicial staieniei)Is are par¢d 15 ¢on5isl¢nl M'ith the financial 51atement5- and the strategic report and the directors, re￿rt included Mbthin the Report of ihe Governors have been prepared in a¢¢ord#nr¢ w'iih appli¢abl¢ legal requirem¢m 18

IPDEPEh'DENT AUDITORS. REPORT TOTHE TrIE￿]BERs OF BROMSGROVE SCHOOL(conlinued) Matters on Mhlch we 8r¢ r¢qulr¢d ¢0 TQPOTI by ¢ietptloA In ihe lighi of the knowledge aNI uthdersianding of ihe group and ihe parent charitable company and ils enyironment obtsined in ihe ¢ours¢ of the audit, ￿'t have identified maiertal misstaiemenis in ihe Repcrt of the Governors {i¥hich in￿rpora￿S ihe strai¢8i¢ and the Oirrfiors. reponj We ha%¢ nothing io repon in respeci of th¢ f(Aknty"in8 mamers in ret￿lon to which the Companie5 Act 2006 requires us lo r¢wi to you if, in our opinion: adequale a¢cwnling r¢¢ords haye noi b¢¢n kept by th¢ parent charitabk ¢(Mnpany' Ix Ihe parent charitsblr company f￿a￿l#l yaitThenL% Te noi ifi agreement iviih the accounting records end relurns; or certain di5closwes of ts71￿C¢s. remuneNN)n specified by knv r¢ nLK made. or we hae noi received all the Inforni￿}0Th explanaiions we requi￿ for ow audit. Rtsponslbllilies ofGoTr'ernofS for tht finarte5al slateme￿IS A5 explained nior¢ fully Én th¢ Siat¢m¢nt ofGoitrnors' ReS￿)n$1b1II1lcS sei oui on PAge 15. Ihe Govemors (who are also Ihe direclors of ihe charitable company for the puryx)ses of ¢(Mnpany law And trusiees of the chariiable compan) for the purposes of charity law) are responsible for ihe Prepardlion of the finan¢Tral styt¢m¢nts and foT b¢ing glisfied ihai they give a ITue and fair vic￿, and foT such internal coTrtrol as the Go%rrnors deltrniiiie is necessory io ertable ihe preparaiion of fmancial slaternents ihat are free fr(rfn malerial m1$51alemenL whdher due io fr#ud or ¢rror. In preparing the f￿ancIal statements the G0Ven￿ are responsible for assessin8 ihe 8roup's and the parenl chaTitable company's ability to coniinue as a going concern. di5closin& as applicable. matteTS Telaled lo going concern Jnd using the going concern basis of accounting unless ihe Governors either intend io liqulaie ihe group or the pa￿nI charilable company or io cease operaiions, or have no realisiic alternaiive bui io do so. Audltor's responslbllSiles for Ile udli ollhe flDntlal statements 0￿r objeetives are to obiain reasonable asstrance aboui ii.hether ihe financial siaremenis as a M'hole are free from nial¢riAI mis51aien)ent, Hh¢th¢r du¢ io fraud or error, and io issue an audiior's re￿rt ihai includes our opinion. Rea50n&bl¢ 8ssurance is a high l¢li¢l of assurdn¢¢, bui is not a guarnniee thai an audil conducied in accordance th'iih ISAS (UK) will alwajs dd¢¢t a iiJ¥i¢riAI misstatememi 'hen it exisis. Mtsstaiemenis can arise from fraud or error and are ODsid¢r¢d mOl¢rial if, individuilly or in th¢ aggr¢gÈte, Ihey could i¢asottabty ￿ ex￿ted K> influence th¢ e¢onon)ic decisions of users taken on lh¢ basi5 of these fman¢ial ￿atement> Irregularilie& inelwjing fTaud. are It￿nCeS of non-Q)mpliHnce with laws regulatiojks. W¢ ¢kgign pro¢¢dures in line wilh our re5wTrnsibiliti¢$. 0￿71n¢d Jbob'¢, to ddeei maierial misstaiemenis in respect of irregulariiies. including fraud. Ihe extenl lo Which ow procedures are capable of de¢eciiTr8 irr¢8ulari¢ie& includin8 fraud 15 detsiled below: B8s¢d on our und¢rslandiDg of the group the thvironmeni in Vlhich it oper2te& w'e identified ihal ihe principal risks of non.compliance ￿'Ith la￿'S and regulaiions related io ihe irthpendeni school iegulation5, safeguarding reKulalions, health and Safety requiremen(% GDPIL employnKni law and charit). law and li'e (￿5]d¢re0 the ¢xl¢ni io ￿h1¢h non- ompliance mighi have J malerial on the f￿&￿¢187 staiemenl$. Il'e also considered ihose laM"'s and reguloiions thal have a direci in)paci on the preparalion of ihe financial statements such a5 the Charilies Aci 201 l and Companie5 A 2006 and consider other factors such 8$ payroll ts We evaluated mana8emeni"s inceniives and opponunilies for fra￿jUlenI n)anipulalion of Ihe fiTrancial slalenients {including ihe risk of overri¢k of c￿1101$), d¢tenni￿d that ihe principal risk5 Iv¢re r¢lat¢d io b ihe improper recognilion of revenue and fflanagerneni blas in ace(M]niing estimates. Audit pr(￿ethjres perfomied by the eng&gemenl reani included: In5Pttling co￿¢Sp￿￿denCt M'iih Tegul&iors and lax authorilies. DiscussÈons M'ith management including considerdiion of or suspecied instsnces of Tron.compliance w'iih la￿.$ and regulation and fTaud- Evalualing managemeni"s conlrols des18￿d to pr¢veAt and detect irr¢gulwilies: Idclltifying and icstillgpuTna15. in particulariournal entries posied ot the year ¢nd' and Challenging assumplions and judgements by manJ8men¢ in iheir critical Kcounling e51imate5. 19

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROMSGROVE SCHOOL (continued)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.fre.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor'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 charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Adam Halsey (Senior Statutory Auditor) for and on behalf of Haysmacintyre LLP, Statutory Auditor Date: 11 January 2024

10 Queen Street Place London EC4R4AG

20

BROIISGROVE SCHOOL CONSOLIDATED STATENIENTOF FINAINCIAL ACTIVITIES FOR THE YEAR ETriDF.D 31 AUGUST 2023 Inrornt Ind Expujditurt A<tou•l GtAtrAI F¥nd Rtsfrkttd Fun45 Toial 202J To¢il 2012 Fuds Inromt Ind Emlowmtnts from: Fccs Pfompi pg)meni allo￿8￿¢£ Butsutes ￿holarS111PsaDI granis 45.171,321 I968.3￿) 45.] 71.3?1 1968.300) 42.770.356 {962,917 ¢4.294.3701 (4.294.370) 13.880,3861 Nd fee5 rtteiabk 39.￿631 39.9(K8.651 37.927.053 [m￿r income 753,265 753.265 981494 Gto1115 Donaiions 125.412 70.1 195.412 63,708 L¢iiing Srhool sI￿P oihlf 1.847,609 399.345 758.IY41 171.952 1.847,6(WJ 399.345 758.￿1 186.Y79 89&921 399.964 731,269 181,326 15.028 herlttcomt Gain on dIS￿saI orrLxed &$ Tot1 In¢omt #Ad EndoYntttts 43,961.324 83.028 44.049.352 41.183.735 Eypttdi¢yr¢ •n: 'reaching ¢O%lts 11 ¢lfwc c0515 Pi¢niis¢s ¢oAs Support llr￿ gONem￿￿eCOS1s 21.350.J25 4.552.432 8.fi17.2( 3.361.324 21 J50.525 4,552.432 &607,2(Y4 3.3fA.324 I9.￿.932 4.192,872 7.861,544 3.390.686 2.910.333 2.910.333 2.43&144 Toi#l Expendllure 4O.7S4.822 40,7U.822 37.793,178 flet 54¢•me before InTJ"tstminl 1055 3.179.502 85.028 3.264.530 3.390.557 G#lnklllosses) on kn¥tttmtnts 197.51911 110.1981 1107.717) N¢t moTrtryent in ful￿$ J,081.983 74.830 3.136.813 2.979.567 Fud bilaNrts knr•utht forard 68.716.888 17,697 495,W8 69.230.583 .251,016 Fud bilaHres c•rritd forward £71.798.871 £17.697 f570J28 £72.387.396 £69.230,583 All of the chari¢able company's aclivilies are coniinuing. All recognised 8aiThs aThJ losses are included the Stoi¢m¢nt of FinAn¢io1 Activilic The ac¢ompan)'in8 notes forni part of ihese fmancial sthremeThts. 21

BRO,MSGROVE SCHOOL Rtg151ertd Company No: 4808121 GROUP BALAliCE SHEET AS AT 31 AUGUST 2013 2023 2022 Notes FIXED ASSF.TS Tangible Inveslmen15 75.535.282 923. 71.877,466 6,881,563 82.459.128 78.759.029 CURRENT ASSETS Siocks Debiors Casli at bank and in hand 474.tA)6 .692,513 5.(J)1.438 416,370 1.458.&16 7.230.025 7.168,557 9.105.IMI CREDITORS: Amounts falling th1¢ ii'iihirt one j.ear {11.797,368 112.469.419) NET CURRENTILIABILITIES) {4,628.811) (3.364.378) TOTALASSETS LESS CURREP4T I.IAIIILITIF.S 77.830.317 75.394.651 CRF.DITORS= Amounts falling thie ofter Tnoie than one year {5.442.921} (O, IIA.0681 NET ASSETS 171317.396 f69,230.583 FUh'DS Eiidownient Unreslricted Restricted 570.828 71.798.871 17.697 495.918 61.716.888 17.697 10 £72,387.396 f69.230.583 The financial slalenienls were #pprovcd •nd 4utlKxis¢d is$￿¢ by ihe B(th of&)vemors onl 1101124 and *ere signed bploM' on ils beh)If by: kman ) Governors Valters The a¢compan)'ing n￿eS forni part ofihese financial siaiements. 22

BROP+lSGROVE SCHOOL Regi$tered Company No: 4808121 CHARITY BALATr4CW.SHF.ET AS AT 31 AUGUST 2023 2023 2022 N￿¢$ FIXED ASSETS T#ngibl¢ 75.526.799 5.080.518 71,871.809 5.152.389 InTrAesiments 80.607.317 77.024,198 CURRENT ASSETS Stocks Debtors Cash ￿ bank and in hand 39.303 2.192.163 4.319.359 42,173 1.833,258 6.677.095 6.550.825 ,552.526 CREDITORS: Amounis falling due Iviihin one year (11.6fA),598) (12,376,3%6) NET CURRENT (LIABILITIES) (S,1￿.?731 (3,823,860) TOTAL ASSETS LESS CUIUIEN'T LIABILITIES 75,497J44 73.2￿j38 CREDITORS= Amounts falling due after more ihan one year (5.442.921) (6.164.068) NF.T ASSETS 70.054.623 £67,036270 FUNDS F.ndowment Unie5trict¢d 570.828 69.483.795 495,998 66,540,272 £70,054.623 £67,036270 The School income for (he year was £44m {2022.. £41. Im) M'ith a surplu5 of £3.Im {2022: £2.8m). The financial siaiemenis weFe approved and auihorised for issue by the BoArd of Governo￿ on 11 january 2024 aj￿ were signed below on his behalf by.. an ) CK>v¢m(K5 II¢F5 The accompanying noles fonn part of ihese f￿ancIal xatem¢nts. 23

BRO,IISGROVE SCIIOOL CONSOLIDATED CASH FLOIV STATEMENT FOR THE YEAR ENDEDJI AUGUST 202J 2023 2022 ,Yolc 'et pro￿ed by operAting Jcliviti 4.8CKI.085 A497fi18 Ini'e5tinz AttivSilti In%¢#mtni inconk. rtteii'ed Pllr¢ha5e of fLx¢d &s5eis Proceeds on disrrtlsal of fLied a55ets Ptsr¢hasc ofini'e5lm¢nts Sale ofin%'esim¢n¢s 186.979 15.499.535) 3&51M) 11 so.ithi 181.326 14.775,8051 6,204,883) 6.038,755 N¥t ¢is olllfifyw from s1ve￿Ing ¢lli"Illes 15.424.056) (4.760.IA>71 Fifflancing •rtivititS Loan rrpa)'mrnlb (Apiial ¢l¢ineni •f fLTrance le￿ rejtials Intercst cost (1.431.41111 I23.8¥￿) 1147.2451 {2.223.1 171 (23.475) 1111.4841 Ntt rmsh inflovJ"J¢outnovJ") fTom fi#An¢in##ttii"itles 11.(4J4.6161 {2.358.0761 In¢rtase.(d¢¢tt¥¢Tr in ¢a%h equivalents 12.22&587) C&th ¢Lth rqui%alenlS il I S¢pi¢mber 7,230.025 7.851.lJ Cath w]d rllsh ¢qui%"aienis ￿ 31 Augu £5.￿1.438 £7,230.025 Cash Ind e15h tquii'altnts e•mprisf. al bank C&sh h¢ld as partof ini"e5tmtnts S.{￿1.439 7,239.025 J.rKII.438 £7.230.025 RECONCILIATIO) OF.NET IJCOIIE TO IET CASH IIFLOII- FROII OPERA TING ACTII'ITIFS 2023 2022 incoJThc bcfot¢ ini'¢gm¢ni gains D¢pr¢¢i81ion GaiD on dispovl of fixed IIncrcase}I tk¢rrase in Stock Ilncr¢ase} in d¢biors Incr¢&sellde¥reasel in f¢¢ deposits and ftts in adianct IDcrtfJ5¢1 irt fTtdilor5 I￿1¢￿1￿¢rtI in¢om¢ r¢¥Yiabl¢ 3.261.530 1.868.220 17.2071 158,2161 1233J671 21J.776 1207J971 1186.9791 147.245 3.34AJ.557 1.762.686 19.2511 {566.1231 810.384 .179,207 1181.3261 ct cash inflo￿ from operalions £4,8￿,085 £(497.618 24

BRoflSGROVE SCHOOL COPISOLIDATED CASH FLOW STATE￿IENT (tontinued) FOR THE YKAR EINDED31 AUGUST202J ANALYSIS 0FCHA￿GEs IN IYET (DEBT) IASSET C$h nows Oiher mo%'ern¢n15 At 31 Ayiust 2023 SepteNJber 2012 Cash artd cash equii'alents Shorn temi tx)rrO￿1rtSS Long temi knrrow'in8S Finonce lease 7.230.025 (1.215.(p13) (2.4YA.181 > (5,979) {2.228.587) .433.481 5,IX)1.438 {493.860} {1.771,883) (37,179) (712.298) 712.298 {55,090) 23.890 Net (dets) l a$5¢1$ £3,524,822 (771.216) (s5,0￿) £2.698.516 25

BROI¥ISGROVE SCHOOL STATE1¥1ENT OF ACCOUNTIN'G POLICIES FOR THE YEAR ENDED31 AVGUST 2023 Basis of prepargtion The fthancial siaiemenis ha%e been prepared in xcordance ￿'Ith the Financial Repming Siandard applicabk li) Ihe UK and Reptsblic of Ireland (FRS102). the Companies Aci 2(KJ6 and the Stsiemeni of Recomn)ended Praciice applicable to charilies preparing their accounis in accordance w'iih ihe Financial Reponing Swjdard applicable in ihe UK and Republic of IrelAiid (FRS 102) (Second Ediiion. c￿e￿Ilt l January 2019). The chariiy has iaken adanLige of the exenipiion available to a qualify'ing eniif), in FRS 102 from the requirement io preseni a charity onty Cash Flow St&en)efti M'ith the consolidaied f￿ancial S￿eMen Having review.ed ihe funding facililies available io the School iogether iiiih the expecied ongouig demand for places and the School's future projected cash flth¥4 ihe Governors have a reasonabk expeciaiion ihe Sch(K)I has adequaie resouT¢es to continue its aciivities the foreseeable fuiure and consmler thai there ￿tre no n)aierial uncertainiies over ihe School'g fuL&ncial l'iability. Accordingly. they also continue io adopi the going concem basis in preparing ihe ffftancial slalcnienls. The financtal siaiernenis ofthe Group inelude the results grtd ba18fices of the School coThsolidaied on a line by lille ba51S wilh Bromsgro%'¢ Srhwl Enl¢rpris¢s Linhiitd and Bromsgrove Sth(KTrl F￿ndatIon. In Accordance iyith Seciion 408 of the Companies Act 2006. no 5ewak Sthiemenl of Financial Adiviiies is wesented for Bromsgrov¢ Schcol. The Sch(K)l is a Public Benef￿ F.niity re8lStered Is a charily in England and Wales 8nd a company limiied by guar8nlee. It w.as incorporated cm I ￿teMber 21x13 (company number. 4808121) and ￿giStered #s # charily (charity number. 10987401 Criliral orfounting Jlldgernen15 key 50ur¢¢s olestimat￿n tyntertiinl) In th¢ application of the accounling wJlici¢5, Goyfrnors ar¢ required to rnake judgement. ¢s1imat¢& and assumpiion$ about ihe rdrw)'ing value of as%ts Irabilili¢s ihal ¥e rtol readily appartnt fr'ing aniounts in Ihe next financial year. Thp folloii'ing accounting policie5 haye applied consistenity in dealing w'iih iiems ii,hich are considered m81erial in Telalion 10 the SCh￿I.s financial sthiements. Ftt5 similar farned iArom¢ Fees rereil'able and chaTges for sefvices and use dihe pr¢mb5¢i Itss any allow'ance¥ schol￿Ships. bursaries 8ranied by Ihe Sch¢)ol against ih05e fe¢5, but iKluding ¢ontriixLiioDs T¢¢eiv¢d fTom restrided funds. are accotsnied for in ihe period in ￿,kniCh ihe service 15 Provided. Ini"cslnitnt ineomt Inveslnieiii income from dividend5. bank balaEbces and r￿ed interest securities 15 Kcounied foT on an acc￿￿15 basi5. Donatlons, legaeEes grants othtr i'oluTrtar)' ineomt Voliini2r>' inconie is atcounied for as afftd ii.hen eniiilenieni dri￿ ihe amouni tan be reliably quantif￿d a]id the economic benefil lo ihe School is considered probab]e. Grani inconie fr(Hn ihe Coronavirns Job Rdeniion Scheme is recogni5ed in the same period Js the r¢lat¢d ¢mplo)'m¢ni cO￿S are incufted. Voluniary income for Ihe School's general purposes is accounied for as vnrestricled and is credited io ih¢ Gtneral R¢s¢r%'e. Ivhere ihe don( or an appeal has imp￿ed trnst lai¥ resiriciions. I'oluniary inconie is crediied io ihe rele&ant resiri¢i¢d fund.

BROMSGROVESCHOOL sTATE￿IE￿[ OF ACCOUTriTINI G POLICIFS FOR THE YEAR ENDED31 AUGUST2023 F.xptndi¢ure F.xrKndilur¢ is ￿er￿d as sorm &$ o li#l)ility 1$ ¢on$idertd w)bablt. discouaiied io prtsent valtse for IMgLY-ierni liabilit1¢5. F.xpenditur¢ altribulable lo mor¢ ihan one to￿ Category in tht SLqitment of Finaneial Actiyilies is apportioned lo ihem on ihe basis of th¢ estimated amount altribvlabk to exh atlivity in the year, either by reference io siaff tiime or IhE use made of ihe underl)ing assets. as 8pwpriate. Itreco¥'etable VAI. is included wilh the iiem of expendkTh)re to hieh it relaies. Governane¢ ¢QSls compri5¢ the ¢051S of Complying li iih con51ilutional and 51aluiOry rewirernenls. Inira-grnup sles and ¢har¥es kiiveen the School and ils subsidiaries Are excluded friMA trading inconie and ekpendiiurt. T8DRible fixed osse15 DepTeciali¢m 15 PTovided ot Tates ¢lculaied io write exh •ssei over ils ¢Uimated useful life. Equ2pnierti is depTecTrated at amnual rates Y￿yIng between l￿fi and 33.3•Aon cos1. No depteciation 15 proV￿Jed on fretkold laTrd. tkwecialion is provided on fTeehokl buildin85 ai 20h per annum. sirnig line, ￿,hen Ihe buildings are brough¢ inio use. The anlicipaied average life of buildings is estimaied by reference lo I September IYJO (dale of commencement of depreciaiion p)licy). ordaie of expendiiure since thai dale. Ini'ostmtttts Listed invesini¢nts are recognised ai markei value a% ai the balance shtti dale. Reali5ed and unrealised gains and losse5 arisii)g on ihe rew•luatiott of Investments are credited or charged io the ￿alemen¢ of Financial Activities and are allocaied io th¢ appropriate Fund a¢¢tyding io ih¢"own¢rship- of th¢ y￿der1).1￿8 8SS¢ Stock Stock r¢pTes¢ni$ S￿d5 f(Y resale and is volued ￿ the I0￿'tr of cost •nd nei realisable val￿. Flnancbal In51iumeAts Basic financial in51mments are initially Tecogni5ed al ITansaclion value and subsequentty measured al amorti5ed cost M'ith the exceplion of investments M.hich are held at fair value. Financial assets held at amortised cosi comprise cash at bank and in hfind. Irade and fec debiors. other de￿0[8 accrued income and amounts om'ed by group undertakiDg5. A specific provision is made for debts for w.hich reco"erabilily is in doub¢. Cash at bank and in hand is dLfined as all cash held in insiant access bank accoun￿ and used as th0￿m￿ capital. Financial liabiliiics held at 8mortised cosl comprise deposils, fees in advance. trad¢ ci¢ditor¥ other¢redilw$ and amounts omed togrotsp undettsk"in8s. Dtblors Trade and oiljtr ddAor5 •r¢ reco￿ls¢d at the s¢ttlem¢nl due forth¢ I￿viSIon of s¢rvi¢¢$ d¢liv¢r¢d. Pr¢payTntnts are r¢¢¢wi5¢d at ihe amounl pr¢pJid QT the ¥rnount paid in xlvaTK¢. C•5h at bank and in hand Cash ai bank and in hand includes cash and 4Jeposils w'iih a short t¢rm malurity of six monihs or less froni the dale of opening the de&￿S14 accouni. Creditors Crediiors are recL)gnbsed Where ihe School has a present obligaiion resulting from a pasi ei'eni thu w'ill probabty resuli in Ihe trangfer of fund5 to a third party and the amout dut to setile ihe obligaiion can be measured rtliably. Amounis are recognis¢d ¥1 iheir senkmetst amount. 27

BRO￿lsGR0VE SCHOOL STATF•li IF.NT OF ACCOUNTifiG POLICIFS FOR THF. YF.AR ENDF.D31 AUGUST 2Q23 Endom'ment Funds The Society of Ff lends Fund= This represents pem]anent endoivment fvnds held under a Charity Conimission S¢heme w.here the in¢ome is io be applied to fvrther the charitable purp)w of Bromsgro¢ s¢1￿1. Dayid Wal¢¢rs Fund: Thi5 r¢pr¢s¢nis ￿m1&n¢￿t endom'ment fund5 held u]Mkr • Chority Commi&sion S¢hem¢ ￿￿ere ihe income is io be Y4ppli¢d for PTOVKling 5¢holarships for pupils ai BromsgroY¢ kh(K>l or al a]18pproied further education e5thblishmeiil. Restrlcted Fund$ R¢51ricied fund5 #re fisDd5 Vl'hich are to be used in ￿ance w'ith spccifjc r¢51rxlions imw¥s¢d by the donor (see Note Unre5trleted Fund5 Unresiricied funds comprise the School's getteral fu￿j. M'hich ts •vilable apptic8tTon in accordance wilh ihe School's objects. Pettsion eosts Rrlirenitnt benefils to employees of ihe SclKx)l are wivided ihrough wi$wn schemes. Tr pension ¢osl$ tharged in Ihe StalenJen¢ of Fin8n¢ial Artivilies •re deiermined 45 follThs- The Teachers, Pcnsion Scheme _ Thi5 ￿he￿Ie is a mulii-mplo)'¢r pension xh¢me. li is vol possible to idpntif). Ihe School's share of Ihe underl)'ing J55els and liabilities of ¢he Texhers. Pension kheme on a consistent and re450Nable basis and iherefore, as required by FRS102, accounls the Scheme as if il ￿'cre a defilled contribulion Scheme. The School's contribylion5, Ivhich are in accordance H'iih Ihe r¢commendalions of the Govemment Acluary. are charged in Ihe periLKI in ivhich ihe salaries to ￿"hICh they relaie are pa>'able. The School also contribules to a defined contributilmk scheme for teaching and non-teaching slaff. Contributions are charged to expendirnre ii,hen they become pa)able. Oper8tlng le8Sts Renials under operating leases Are charged ￿ a stsaighi-line basis over the lease ierni. even icthe pa>'m£iiis are noi mode OD such a basis. Benefiis received and rteekvable &8 an inceniive io sign ￿ wraiing It￿t are similarly spread on a Sliahght-line basis o¥'er ihe leAse ierni. 28

BROIISGROVESCHOOL NOTES TO TIIE FIINAIYCIAL STATE￿IENTs FOR THE YEAR ENDF.D31 AUGUST 2023 EXPEP4DITURE St•ifc05ts her Total 2023 Ch#rilble Aetli'lty: Teaching costs Welfare cO￿S Premises costs sUp￿)rt and 8o%ernance costs 18.414,501 2,274.265 2,450.452 2,055.847 1936.023 1278.167 A156,757 .308,477 21,350.524 4,552.432 8,607,209 3,3&1.324 25,195.IKk5 12.679.424 37.874.489 Ratslng fundL' Leiiirtgs S¢hool shop Mark'eting Finance ¢osts Oth¢r 323.996 84678 56&794 281.93S 1.242.790 148.013 68,739 892.790 368.613 1,242.7 148.015 2S8.125 189,3B6 2,JIO.273 2.910.333 f25.795.125 £14,989.697 f40.784.822 2012 Ctharhiable Actlvlt): T¢a¢hing cosis Welfare costs Premises costs Sutvort and 8ov¢mart¢e ¢04s 17.689.076 2.108.665 2.320,859 2.274.811 2,220,856 2,084.207 5.540.685 ,115.875 19,91Y).932 4,192.872 7.861.544 1,390.686 24.393,411 10,961.62J 35J55.034 Rgislng fund$: Lellings School shop Markeiing FinartC¢ C4)4$ Other 182.358 83,979 205.315 290.360 ,319.029 111.484 71.728 387.673 374.339 lJ19.029 111.484 245.620 173.892 44Q229 1,9)7.916 2.438.145 £24.83J.610 £12.959.539 £37.793.179 Fing￿¢ ¢ost$ rtlsio i•l¢tta b•nk loans 2023 Ind 2022. 2023 2011 Goi'trnanct costs Int￿ded in supp)rl eosts: Audiior's remuneraiion Gol'f m4)rs' cosls Legal End professiiynal 40.450 34.YXI 723 15.745 8.882 8.310 £66.478 £9&9)0 29

BROIISGROVESCIIOOL NOTESTOTHE FI.YANCIALSTATEfvIENTS FOR THE YEAR ENDED31 AUGUST 2023 EXPENDITURE (¢OD¢lputd) Totsl expeThJilure include5- 2023 2022 Depreciation Audi10￿ rernuneration.. - Audit ftts (School) Audir ftts (Subsidiaries) - Other services relating lo l&xalion ,861.912 28.075 12.375 642 1,762.686 23.250 11.250 9.822 BURSARIES.SCHOLARSIIIPS AND GRANTS i• 2022 Burwies FO￿¢5 di5coun15 Schol&rships, ¢xhibilion5 and oih¢r discounts 2,304.036 1,51M.222 486.112 2.123.685 1.3(K).514 456,187 £4294.370 £3.880.386 STAFF COSTS 2023 2012 Wages and salaries S(Ktal security COSIS Other ￿￿$10￿ ¢osi$ 20.653.WJ8 2.￿1,719 3,138,399 20,078.573 1.893.830 2,861.237 £25,Tr5,125 £24,833.610 I'he aYera8e nuniber of employce5 in the yew ￿.￿ I'eachers Administraiion (including academic support) 231 439 229 427 670 056 The nurnbet 0rempl￿ttS Mhose remuneraiion exceeded £60.(KK) 15 disch5ed below: 2023 2•22 £60.000.£70.CN)O £70.001-180.(KIO £80.001-£90.CM)O £90.￿l-£I00.000 £100.001-£i10.o £ I10.ODI-£120.0 £120.001-£130.0(K) £200.￿0-£21O.O{￿) £220.001-I230.OIK) £240.￿l-£250.00I £250.001.£260.0(M) 34 18

BROMSGROVE SCHOOL liOTES TO THE FINAfCIAL sTATE￿IENTs FOR THE YEAR ENDED31 AUGUST 2023 Of ihe above emplo>'tes. nknei¢tn (2022:fourleen) Tecei%'ed contri1￿tionS lo a defined conlfibution pensi schenie, Th4'ent)'_se¥'eA (2022.. t￿entY-onc) m.ere members of ihe TeacheTS' Pension Scheme and none (2022: one) h&d opied of the TeL¢hers' Pension Scheme. 2Q23 Aggregaie ¢mplo)'tt benefils of key rnanagement personnel £811,418 £830.108 Neiiher the Governors, nor persons conn¢cied ￿'ith them receii'ed any remunerarion from ihe Sch(M)l. Rehmbursed expenses totalling £176 were receii'¢d by Iwo GovernLYS fcff tyavelling expenses (2022: £243 to one Govemor for trav¢lling expenses). During the )'ear ihere Were redundancy or ierminaibon PA)Menis amouniirtg io £ 42.853 (2022: £41,127). FIXED ASSETS-GROUPAliD CHAIUTY Freehohl Pro￿rtY Toil Cthxrlly Trad5J% CompAlby TotAI Group Equlpmenl COST Ai 31 Augusi 2022 Additions Disposals 89.424.615 5J15,562 1.819.886 IW,928 {12.lJ)5 91,244,531 3.545.44X 182.(KJ5} 54.818 9.135 91.199.349 5.554.625 182.0051 Ai 31 August 2023 94.77Q207 1.937.8( 96.708.016 63.953 96.771,969 DEPRECIATIOY At J l August 2022 Charge for the year Disposals 17.861.291 .741.80J 1.511.431 120.107 {53.416 19.371722 .861.912 153.4161 49.161 6.308 19.421,813 .868,220 153.4161 Al 31 August 2023 I9.￿3.(￿)6 .578.122 21,181.218 55.469 21.236,687 iF.T BOOK VALUE Al 31 August 2023 75.167.111 359,687 75.526.799 8.484 75,535.283 At 31 ANgu512022 £71.563.354 £308,455 £71,871.8(ffJ £5,657 £71,877.466 Ji

BRONISGROVE SCHOOL NOTF.S TO THE FINANCIAL STATEhlENTS FOR THE YEAR EPIDED JI AUGUST 2023 FIXED ASSETS INVESThlENTS Ignaged Tr"unds Casb Group: Balance ai 31 Ay8usI 2022 Additions Disp05als Transfers in Managenienl fees paid (Losses) on revalualion 6,881,563 1511(Kl) 6.881,63 151ACKM 1107,7171 1107.7171 Balance at J I Au8usI 2023 6.923,846 6.92.1,846 School Balance at 31 Augusi 2022 Additions Disposals Trnnsfers in ManaBenieTht ftts paid (Losses) on r¢%'Alllation 5.152J89 5.152.389 171,871 Balance ai 31 August 2023 £5.080.518 £5,080.518 The Sch(K>l hol(ts lo￿/• of ihc share capilal of Bronisgr0￿¢ School Inierwises Limited. Whose principal activities are commercial kllings. operating a school shop 8Trd 8dminist¢rÉng ihe s¢h(￿l's intemaiional actis'iiies. This inve51menl is held ai nil value in the financial ma￿meTrts. A swnmary of lh¢ balAn¢e sh¢ei and profit and loss 4crount from lh¢ Judited financial ststements is set oui bek)￿= 31 Aug4s1 2023 31 Atsgusl 2D22 Turnover Expendilur¢ 1.365.711 1.144.123 (930.473) (760,399) Net profti before dona¢ion u￿1¢T Gift Aid Donation under Gift Aid ) Governors of Br0rn5grove Sd)(KTrl 435.238 (386.664) 383.724 (165,474) Retained profrtlloss) £48,574 £218.250 N'el •55e15 r¢presenkd by Share rwpilal Profil and105s ¥¢¢ouTrI 432,298 383.724 £432,300 £383.726 DEBTORS Group 2023 CJro*p 2022 Ch%rlty 2023 Charily 2022 Fees Amounis due from BTOm5grov¢ School Enierpri5es Limited Oiher debiors and prepayments Amcwjnis due fn)m Bromsgroi'e School Foundation 1.033,083 727.372 1,033,083 727.373 776.657 342.025 732,520 313,029 659.430 731.274 40.398 40.336 £1.692.513 £1.458.616 £2.192.163 £1,833,258 32

BRONISGROVF. SCHOOL iOTES TO THE FIPIAN'CIAL STATEI%lEfiTS FOR THK YEAR EI%DEDJI AUGUST 2023 CREDITORS: anounts falling dye wlthln ont year Group 2023 Group 2022 Charity 2023 ChArhly 2022 Bartk loans Finance lease Trade creditors Fees in advance and pupil deFrt)5its Ti%aiion and axial xcurity O¢htr ¢rediiors Accrna15 493.860 27,651 795.749 7.256.210 616,576 1.093.$95 1.513,727 1215.043 5,979 888.461 7.0?4.057 525.859 834.480 .975,540 493.860 27.651 754.220 7.256.210 572.616 .095.401 ,460,641 .215.043 5.979 855.160 7,024.057 500.775 834.480 ,940.892 £11.797,368 £12,469,419 £11,660,599 £12,376,386 CREDITORS: a￿ountS fllSng due after more Iham one )'er Group ond Ch•rlty 2023 2022 Bank loans Pupil deposiis Finance Lease 1.771.883 3.661.510 9.528 2,484,181 3.679,887 £5.442.921 £6,164.068 Details of above loans are as followj.. 10 Yew Temi.. Outstanding balance oc £326.062. RepayTTrent5 wthirh romrnenced in Decemtr 2016 are made quarterly 8fMI ¢omplet¢ ¥n December 2026. Int¢r¢s¢ is pa)able at a rate of £1.70/0 oi'er the bank's base ra¢e. Outstanding balance of £886.077 M'hich 15 UTr5ecured. Repa)'ments M,hich coniinenced in N'oTh'cIn￿r 2018 are made qutherly al￿ ￿117 complete in August 2027. Iniereu is pa)'able at a fix¢d rate of 3.20I'P but has noiv been convened to a %'ariable raie of 1.7•/• over the bank's base rate. 10 Year T¢mi'. Ouistanding ba1￿ce of £1.053.6(A. wthich is nsttthred. Re￿).MentS i*hirh eornmenred in Noi'ember 201 S are made quaAerl>' and M'ill complde in AuS￿S1 2027. Inter¢si is PA)'oble ai a raie of l.wts oi'er the bank's base rate. S Year Terni: Corortavkrns Bustntss Interruption Loan (CBIL) wa5 Tepaid back in lull duriTrg the >'ear, hence the obts-landing bala￿¢ 15 £Tril. 33

BRONISGROVE SCHOOL h'OTES TO THE FlTriATr•CIAL STATEhlF.NTS{CoTrliTru¢d) FOR TIIE YEAR EfiDF.D 31 AUGUST 2023 ENDO1v￿1ENT FUNDS Balance I Septtmber 2022 Bal8n¢e 31 Au21151 2023 Net intome gain$ Transfers Dayid Wali¢rs FUTKI The Society of Friend5 34,671 461,327 34.671 536.157 74.830 £495,998 £74,830 £570.828 Bal4nce l &pl¢iuber 2021 Balance 31 Au2USt 2022 Net i￿¢0￿¢ and gains TThn5f¢rs David Waliers Fund 1.he Socieiy of Friend5 34,671 474,140 34.671 461.327 (12,813) £S08.811 £{12,813) £495.998 ID. UNRESTRICTED FUliDS BalaAee SeptembÈr 2022 Balawce 31 August 2023 Cains aDd TrAnsfers ExpendÉl¥re General fund £68.716.888 £43,964,324 £40,784.822 £(97J19) £71,798,871 B#lAiiee Stptember 2021 Balxthet 31 August 2021 Income Expendilure Translers General fund £65.731,954 £41,173.735 £{37.7￿.624) £{398.177) £68.716.888

BRO￿lSGROVE SCHOOL NOTES TO THE FINANCIAL sTATE￿IENTs (Cont•n￿ed} FOR THE YEAR ENDED31 AUGUST 2023 RESTRICtED FUIYDS Balathte 31 AuRUSt 2023 I September 2022 Income gnd g•ins Trattsfors John Nicknolls Fund Roger Bmier Fund Tim Ta)'lor Fund 5.251 5,251 10.¢ 10,iJJo £17.697 £17.697 Balnrt Scptembtrr 2021 Bala¢e 31 Augusl 2022 Income Transffrs John Nicholls Fund Roger Brazier Fund Tini Taylor Fund 5.251 5,251 2.446 10.0 {2.$54) 10.( £10.251 £7.446 £17,697 The John Nicholls Fund represents a legxy rtteiied ￿ supW￿ ehildreffi undertlking expedilions or IwidooT activiiies. The Roger Brnzter Fund repre5en15 a donalion recei%'d to support ihe leamins and dei'elopmeni of pupi15 ￿lIh dy51exia. The Tini Ta)lor Fund represents a doTrat¥)n r¢ceivcd to supyl the redevelopnKnt of ihe Learning & Resources Centr¢. 12. ALLOCATION OF THE GROUP PIET ASSETS Fixed kntts Nti C¥rrnDt Llabilities n8 Term Llabiltiies 2023 ImTreslMeDts Tolal Restricted FthdoiVmt￿I 17,697 50.948 17,697 570,828 519.880 Unre$iri¢i¢d- - General 6,403,966 75,535282 (4.697.456) (5,442.921) 71,798,871 £0.923,846 £75.535282 £(4.6?8.811) £(5,442.921) É72,387.396 Fltstd Asseis Nel C￿rrent Uabllliles iAJtt2 Term Ll•blllile$ 2022 ToiAI Restricied Endoi¥n)eni 17.697 17,697 495,998 95.998 Unresirided: - General 6,385,565 71.877,466 (3,382,075) (6,161,068) 68,716,888 £6,881,563 £71,877,466 £(3.364,378) £(6.164.068} £69,230.583 35

BROIISGROVE SCHOOL NOTES TO THE FI￿ANCIAL STATEhlENTS (Co•ilt)#¢d) FOR THE YEAR F.liDF.D 31 AUGUST 2023 13. CAPITAL Coh1￿11T￿lENTs 2023 2022 AuthorisLThd bul not contracted Lontracied but noi provided for Inil £3.564.666 £nil £307,050 14. FINAh'CIALCOhl,MIThlENTS 2023 2022 OperaliA8 leases for equipmeni thai 8re subjeci io (￿Ettre minimW￿ lease toininiinienis are as follo￿'s. 'iihin one >'ear In ihe second (o fifth yvdrs 10,713 5.543 10,713 16,256 Tothl £16,256 £2(969 Commiinients ￿rtder fthart(e leases 8re as follo'L PAyable ii'ithin one >'ear Payabl¢ in the Seco￿1 io fifth ye 27.651 9.528 5.979 Total £37.179 £5.979 Is. SUBSIDIARY CHARITY Bron)sgroi'e School is the sole member of the Bromsgrove Fotsndaiion. Th¢ Bromsgrove Foundation bos consolidated inio these account The Broms8ro%e Foundation is a tompan) ITmit¢d b). guJTJntee J regislered ¢hJrity. It ￿lS incorporaled on 6 F¢bruary 2007 and has J y¢Jr end of 31 August. A sunimar), of the Stateni¢ni of FinanciY41 Actii'iiie5 and Balance Sheel are given below: Statement of FiDarial ActiYitiH for the )Tar ended 31 August: 2023 2022 Income Investmeni income Donation5 and legacies 40.859 237.839 37.933 149.873 278.698 (152,967) (35,846) 187.806 (128,851) (111,430) EX￿ndi￿re Realised unrealised ini'estmeni Eainsl{losses) 89,885 1.810.480 (52,475) 1,862.955 Tothl funds broughi fm4'0rd Total funds rarricd fon4aTd £1.91KI.365 £1.810.480 Balinte Sheet AS •131 Augu￿. Inve51menis DebioY5 Cash Credil(K5 .843.328 3,105 94,331 (40,398) .729,174 5,683 11.5,962 (40.339) Accumulated Trtsnds £1.91XI.366 £1.810.480 36