2022-08-31-accounts

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT AND CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2022 Registe￿1 Company Nwnber. 05142007 Registered Charity Numb¢r. 1104425

Bristol Grammar School (A company limitd by guarantee) CONTENTS Pw($) Dlreeiors'RÉport.' Reference and Administrntive Inforniation St￿Cthre. Govem8n¢e and Managenmjt Strategic Report 6-19 Statement of Dir¢¢tors' Responsibilities 20 Inde￿nd¢ll1 Auditor's Report 21-24 FIKartLYal SMiements.' Con¥olida¢¢d StstcrnenÈ of Finan¢iaJ Activities 25 Consolidated and SclKM)l Balance Sheets 26 Consolidated C&8h Flow Ststemeni 27 Notrs to Financial Statements 28-47 Registered Companv Number.. 05142007 Registered Charity Nurnber.. 1104425

Bristol Grammar School (A company lirnited by guarantee) DIRECTORS, REPORT for the year ended 31 August 2022 Th¢ Board of Directors pre8ent their annual rep)rt for the year ended 31 August 2022 under the Companies Act 2006 and the Charities Act 2011, tO8ether with the audlted f￿ancIal ststements for the year, attd Confirn) thai they comply with the requirements of the Companies Act. the Company's Memorandum and Articles of Association, the Charilie8 SORP 2019 and FRS102 'The Financial ReFQrtftn8 Stsndard in UK and the Republic of Ireland,. REFERENCE AND ADMIN]STRATIVE INFORThL4TI The Com Bristol OrammaT School C'the Companyy is a company limit￿ by guaTante¢, incorporat&l in England on l June 2004. company ￿gIstratiOn number 05142W7, with the liability of its members limited to £1 each by guarantee. It is registered as a charity under registration number 1104425. It is exempt from the requirement to include the word"LiMit￿l, in its name. Its Tegistered office and pr1rK￿aI address is at University Road, Bris￿1 BS8 ISR. Linked Charltie5 Under the Schern¢. the penDaiThit endowinent assets of the School are held by the Company as the TTh￿tee of a sepaTate charity called Bristol GrammaT School Trust. Under a fvrther Charily C4mimission Scheme dated 31 August 2004, th¢ Company 1$ also the Trust¢¢ of another 3eparate Charity called Bristol Gramnw Schwl Scholarship. Bursary al￿ Prize Fun(L On 12 August 2005, the Charity Comrnission made a Uniting Diwtion under ￿tiOn 96(5) of the Charities Act 1993. dir¢rting that thes¢ two thariti¢s ("th¢ linked charitie$'? should ￿ treated as fornling part of the charity Ikd Bristol Grdmmar School for the pury￿se$ of Part 11 (regislrdtion) and Part VI (ac¢owiting) of the Charities Act 1993. The main effect of the Uniting Direction is that the linked charitie5 are aBgregated into the Stai¢menl of Financial ACti￿tiC8 Bnd the Balance Sheet of the Company. They rernai￿ however, lryally di8tin¢t ¢hariti the funds of which are to be applied Sokly in accordance with their rq>ective trnst5. R¢gistered Company Numiv.. 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS. REPORT (¢ontiniied) for the year ended 31 August 2022 Directo and Governors The present DireciorJ of the Company, are also the Chariiy TnJstee8 and the School Goy¢rnO￿ and also ally ex-Directors who xerved during the year aTC'. Director Committee Membership Crffvopted by the Board Mr M￿k Alker-Swn¢ BA Hon8 BATch RIBA appointed on 16 Novemlxr 2022 Mrs Andrea Arlidge BA Mr Alan Ba￿ LLB Mrs Sharon Boccac¢ini MEd (Open) Bsc (Hons) PGCE MCCT MT lan Chetham BA Hons Msc FCSI appointed ¢)n 16 August 2022 M$ Maria Crayton BA Hon¥ MCIM Ms Hannah Drak¢ MA Dr Mary Gainsborough MB ChB FRCPCH Mrs Candida Gil BS¢ Hons ACA Mr Jonathan M4y BA IHons) MA FRSA Mr Patrick M¢¢han BEd Hons FPFS Mr Andrew Moore 4PPOintcd on 8 June 2022 Dr Jane O'Gallagh¢r MBChB MRCP FRCPCH FHEA (Deputy Chairl Mrs Lu¢inda Parr Bmus Mmus FRSA &pp)inied on l November 2022 MrNigel Pickeisgill BS¢ Hons FCA Dr Michael Ransome BA PhD Ms Catherine Red5haw BA (Oxon) Hons LLB Mr David W Shelton Msc FCIM (Deputy Chair) Mrs Margard SimmonR-Bird BA Hons PGCE MA Mr John Sisman BS¢ Hon& MRICS M$ Sally Swke Bcom Hon5 appointcd on 31 May 2022 Dr Dominique Thornpson MBChB MRCGP (Dist) Mr Romesh Vaililingam BA Hons (Oxon) MBE (Chair) Mr MaTk R Wi180n BS¢ Hott8 MRICS ABD ACEF ACD ACDF The following Committees have been in operation during th¢ year.. Chair8. Group & Nomin&tions Committe¢ learning & Aehievemelli Committee Finance & GenEral Purposes Committee Marketing & Development Cornmittee Pupils & Staff Cojnmittee Fsta*A Committee Regist¢red Company Number. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A cornpany limited by guarantex) DIRECTORS, REPORT (continued) for the year ended 31 August 2022 The Headm&8t¢r Mr J Barol MA (Cantob) MS¢ The H¢ad of Infan¢ and Junior School Miss H Hughes Bsc Hons MA Ed The Bursar Mr JG Mttchell BA FCCA Clerk to the Governors MT OLD Chambers Bsc HSBC Bai)k Pk Cabot Circus Bristol BSI 3BA Inv¢stm¢ni Managers Eve1￿ PartneTS Investhjent Managemenl LLP Portwall Pknce Portwail Lan¢ Bristol BSI 6NA Ruffer LLP Inv¢stm¢lli Manasement 80 Vicloria Street London SWIE 5JL Propety Mana8ernent DJ Foley Prop¢ty Con8ultants Cavendlsh House 15 Whiteladi¢s Road Bristol BS8 IPB SolicitOTS Veale Wasbrou8h Vizard Nam)w Quay House NanDw Quay Bristol BSI 4QA Auditor RSM UK Audit LLP Second Floor l The Square. Temple Quay Bri8￿1 BSI 6DG Re8is¢er¢d oifie¢ University Road Clifton Bristol BS8 ISR Registered Company Number. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continued) for the year ended 31 August 2022 STRUCTURE GOVERNANCE AND MANAGEMENT Th¢ S¢hool was established in 1532. The Charity is regulated by a Scheme made by the Charity commi￿10￿ in May 1978 and was incorporated on l June 2004. GovernSn D The Company is gov¢rned by its Memorandum and Articles of AS￿latIon, i&sued on l June 2￿ (¥m¢n(kd by Resolution8 on 24 August 2004, 26 Septemb¢r 2005, 2 De¢eAnber 20(k8 ond 28 June 2020). Govttnl The DiTectOTS, who are also required under the Arti¢l¢s to.rve &8 members of the Company, hav¢ control of the Charity and its prom and funds including. as CO￿or￿te iTUStee, the endowmenl assets of the Charity. Th¢ Governing B(>dy conslsts of not le￿ than 16 m¢mbus, one of whom may be nominated by the School'¥ staff. Governors are appointsd for a temi of five years and may be re-appointed for a fither thre¢.y¢Jr t¢m or other period a$ th¢ Board ¢onsider8 appropriate. Nominations for new Govemors are considered by th¢ Chairs, Group and Nominations Committee, which ensure8 the Governing Board has the breadth of skills to giv¢ eff￿1]ve strategic leadership to the School, in conjunction with the Headrn&8￿r. to ensure the Governing Board r¢fl¢ots the diversity of our community. The Nominatio￿4 Committee makes reC0mn￿ndationS to th¢ Board for their ratification. Directors nd Ke . Mana ement Per50Dnel The Directots meet as a Board four times a year. or mor¢ freqUe￿lY when to detern]in¢ th¢ strategy and general policy of the company and review It￿ overall management and control, for which they aT¢ legally Tespm8ible. The work of implementing the Board'8 polici¢5 is d¢legatyJ to the Committe¢¥ li¥t¢d on pa8¢ 2, which meei ai le&8t per term. The day-t(Hlay rujming of the School is delegated to th¢ K¢y Manggement PersoJ]nel (KMP) conwTiSiD¥ th¢ Headm&ster, the Bursar, the Head of the Infant and Junior School. fiye Deputy Heads, Dirfftor of Mathtin& Admissions & Communtcations and Director of Developmen¢. The KMP meet regularly duTing each we¢k considering both stragic and operational matters for th¢ wholc s¢1￿1. The remuneration of the KMP is set by the Govern¢m afler wnsulwion wlth the Headmastsr arf wb¢r¢ appropriate, the Bursar. Th¢ Headmaster and BUTW are nol involved in th¢ discussions regarding their QWD remuneration. Remun¢rationpackage8 are set at a l¢vel to ¢n¢ourage th¢ r¢cruAttnent and retention ofquality wiior teachers and execwtiv¢s in order ts) lead the ￿h0O1, f￿111t￿lIng 4 h¥ppy, supponive. S￿￿tainable and ¢nri¢hing enviD)nment in wbi¢h 811 pupils and stsff can flourish and maximise their pontial. BGS also has a wider Senior I£adersbip Team (SLT) whith in¢lude$ the KMP plus the A￿lSta￿t H¢ads of th¢ Sch(N)l and up to thffe co-opted rnembe￿ of staff (to aid with ¢h¢iT professional development, as well a$ to l¢ad on specific Proj￿ts). SLT dlscusbes important issues for the S¢hool and in¢ludes members. of both teaching and support.4taff. is communication, with all ¥t&ff, on the ilems di8¢ussed by SLT and the d￿ls1On$ made. Re8LStered Company Number.. 05142007 Rc8lStered Clwity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continued) for th¢ year ended 31 August 2022 Trustee Trlnl NewDireetors are inducd, throtsgh 8 Strucbjred proce$*, into the working4 of the School, andAlso ofthe Comp8tty &$ a registered eharity. Induction is urtdeJpitm¢d by ¢ov¢rage of the following importani atta8: the main ￿lI¢l¢S. with ¢mphuts upon safeguarding. specific policies lit]ked to committee membership? governance and matsagement documents including: "Trustees. & Governane¢'. Being a trust¢e"_ a publication by th¢ Charity Commission The Mejnorandwn and Articles of Asscciation BTiswI GTamnw School Inspecuon Report from the Indep￿￿ellt Schools Inwtorate. and Ststytory and Mawg¢rn¢nt Awounts. The ll￿1n el¢mcnt of induction i& a school familiarisation VL81t of at le￿1 hrllf a day whi¢h includu meetings with the He￿m￿St¢r, Bursar. Cl¢rk to th¢ Governors and other 8eniorstaff together with classroom obseryation. DircctoTh are alyo encouraged to attend re¥uiar traininsy s¢min8rs organised by AGBIS (Association of Governing Bodies in Ind¢p¢ndettt Schools). other p￿fe￿ional fimis and OTgartisatiOrts in¢luding RSM UK Audit L￿, VWV LLP. ISBA (The Indop¢ndeni S¢hool8 Butsars. Association) and the Indynd¢nt Schools, Cowi¢il (ISC). AII Directots confirni they have read the safe8uarding and other key ExTrlicies and nationat guidance C￿h ye8r. Diwlor¥ aT¢ also I&4U￿ with BGS Board d¢tsi]s including: (Xwrent Governor8. Ikthils- Skill$ Whd Ryperience Matrix" Minutes of recent Board and Committee meetings. Current Committee Membershipj Commiu¢e Medings- Curnt S¢hedule' and Full Role D4￿ription for Gov¢rnoTh. Grou Structsre Tr&dln Subsldl8 BGS Ellterprise3 Limited is a wholly owna and a￿1ve trading company whi¢h uses the relevant facilitiesof Bristol Grammar School uDdLT license. Brithl GTarn￿aT ￿h0o] h&¥ a Gri>up VAT re¥l￿tratiOn. Bristol Gran)mar ￿h0o1 is g meM1￿r of HMC (the Headnwt¢r8' and H¢adtnistress¢s' coj)feren￿), The Soriety of Heads, the ISC (Independent Schools Council), AGBIS (A￿)elation of Goveming Bodies in Independeni Sch(K)Is) attd the ISBA (tndwdent sCh￿)IS. Burs￿ A&weiation) all of which pmvid¢ th¢ Sthool with ￿gUlar infOrn￿li0ll and advice about changes in legislatioty wulation5, compliance #nd best practi¢¢. Bristol Grammar School benefits from the generosityof the Old Bristolians. S￿iety, the"FrieJknJsofBGS" (Senior hool parents) and"BGS Friendb Infants. & Junior8" (Infant and Junior School patMts) a]1 of which support the School and contribute financially to prize funds> projects and bursaries. The Friends grou￿4 SAgnificantly add to the community, friend5hip> character and ethos of the school. Their hard work and support is greatly app￿lated by the Board, the Headmaster and other members of the BGS community. Incl Il Ac¢ivl The principa] activity of the Company is to ttwage administer the Sthool foT girls and boys k￿wn as Bristol Grdrnrn￿ School. Ail th¢ assets, liabilities and ¢ontracts of the School were transferred to the Company pursuant to a ch￿'tycOMm1ss10n Scheme dated 17 June2004("th¢ Sthern¢'?. and th¢Companyhas wried onthe Iw6ine48 of th¢ Sch(KTrl sin¢¢ that date. The number of pupils at the School w&s 1,337 at the year cnd. Rcgist¢rd Comp8ny Numtr¢r: 05142￿7 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guardntee) DIRECTORS, REPORT (continued) for the y¢ar ¢nd￿ 31 August 2022 Other Dlrectors, re ort disclos Disclosures reqUI￿d by the Companies Act 2006 ￿ be included in the dirtttors. report about engagement with ¢mploytts, 8uppliery customers and other stskehold¢r4 and eneryy and carfoon reportiti¥ have been inclutsl low in the Strthte8i¢ Report sKtion of this rep)rt. STRATEGIC REPORT ORVECTS AIMS OWECTIVES AND TU E PLANS The objects of the Charity are: To advance the education and traitiing, by the provision and condu¢L in or near the City of Bristol. of aday school or schools for boyg and girls and, in so far as it is incidental or ancillary to the adv8ncemenl of education. such otherpryses for the benefit of the local eomrnunity as shall bt ex¢lu8ively ¢harit&ble. Hi8torie&l CoDtsxt Bristol Grammar School was founded by Roy&1 Charter. issued by Henry Vlll on 17 Mttr¢h 1532. Pre41attng the city's otber ]tide￿ndent ￿h0O1$ and its two universities, BGS has played a central part in Brisiol life ever since, standing for the best in education and care for its pupil& in the city for olmost five hundred year8. It wntinuey 10 navigate successfully the ethicatiotul cross-currents of tradititsn and prog￿&810￿. and it remains miNlful of its past whilst b¢in8 more aware than everof the nttd to keep looking forwBrd. In changing economi¢ and political times, BGS continues to develop young adults of integrity and charncter, rigorous in their application. WmPa￿￿1olldI¢ in their outlook. and ready to make a real and lasting differenee in the world that awaits them. Endowed by Ni¢hol&$ and Robert Thorne, the School was estsblished "foT the teaching of literature and good mannels" to the sons of m¢rchantsand trndesmen of the city. Ithas¢volvedcon%iderably since then-most notably. it is now a proudly ¢oeducatlODal 5ch(K>l - l)ut the desires to build an education 8rouTrJ academic endeavour. supwjrtive pasioral care and the development of good Char￿ter, and to include those who might not otherwise be affordoj such a privilege, rernain as central to our Mivion now, as when the School was estsblished. Mlsslon To provide an ¢x¢¢ptionai and rounded education to t1m￿ who mi81rt benefit from il Tegardless of their backgmund and f￿anCIal means. Almi l. To nurnitt, challeng¢, ond celebrnte each individual. 2. To develop an excitement for learning which goes beyond Khool. 3. To Promote physical and mental wellbeing? and the development of go(NJ Lharn¢ter. 4. To make a BGS education ttvai18ble to all those who might benefit from it. 5. To be a diverse school and one which 8erves Bristol and Ewond. 6. To ensure that the school conlirtu&s to tlourish for generations to come. Viluey Kindness, Integrity and Rigour. Registered Company Number. 05142007 Registered c.harity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continued) for the yeaT ended 31 August 2022 Ob"e¢tlve5 and Future Plans Th¢ D]r￿10T$ and Heathnasterfs main objectives are to.. fill all available place8 wlth girls and Ix)y8 who have demOn$￿ted they have the p)ten¢ial io benefit from attending Bristol Grnmmar S¢hwl' mainlain a cornmunity with as broad a Soci￿¢¢0nOMic mix of pupils po&8ibl¢. from all elements of the Bristol community. by supwrting a significant proponion of pupils with the cost of education, on 4 means-t¢st¢d basis, from the School's limited endowment funds and other fund raisin89 ¢duca¢¢ all pupils to the highest PO&8ible standard with excellent teaching and learning and extra- curricularopFortunities to enable them to develop theirfvllpotential andattend theunivttsity. fvrther educational course or wotk training oftheir choice. ruli the highesi possll)le calibre of t￿h]ll¥ Sup1￿ and f￿llItate th¢ir wnlinuing prOf￿10n￿l develcymenL approve appropriaie improv¢ments to the SchcKJl's facilities and e4uipmenL within budget constrainw including the best Use of ￿hnolOgy. provide a happy and s¢cur¢ pastoral envir(nmenL with 8afeguarding 81 the foTefronL in which all pupils Can flourish with opportuniues for leader8hip service and an acknowledgementof respect and On8i(krntion lo other8. furtherdevelop the already sttDng links with our parent4 extended families and alumni ¢ommunity: be a recognised force forg(K)d beyond the school gat¢4 wid¢ning aoc¢55 and ¢arryitLgoutJne4ningful charitable and community partnership wo￿, I￿alty and widely. Risk Mana ment The ￿h0o1 regularly updated and followed its COVID -19 Risk Asse&sment, tn accordon¢e with national Government and L(Kal Authority guidance. The school is now Cautiously optin)is¢i¢, post year emd, thal we have returned to pre-pandemic nomlal operations, although we continue to emphasi5e good public health controls. matter of daily routine, for the school's pupils, staff and visitors aThJ diligentty monitor the situation. For pupil8 not on the school sitr during the Spring Tern), teaching, postoral cllre and support. and some very creative extracurricular ￿8)Qn$ were delivered remotsly. The 0£h￿1'S ongoing investsnent in techt)0108y ensuml that the school was well placed to deliver these s￿l0nS. The School h&8 a comprehensive Risk Register which is review￿ and updated each terni. by the Govemor8' Committees and the KMP and mIeW￿ by the ￿11 &)ar The controls u8ed by Bristol G￿rnMar Schwl to minimi6e risk include.. Strategic ¢kvelopment planning and 8elf-evaluation reviewed annually by the KMP and thc Board. Comprehensive budgeting and moni¢orirts in¢luding the pr¢pard¢ion of Incom¢ and Expenditure Accounts. Balance Sheetsandcash FlowForee&8ts with appropriate r]nancial comm¢ntaryand sensilivity Capital appTaRsal and feasibilily papers authorised by th¢ aEvropria¢¢ Gov¢rnors' Committ¢¢ and Board foT major capital projects or expendibJre" Schedule of ¢ondition r¢portg pr¢parnl by appropriat¢ly qualified profrssional adVI￿rs. Ternis of reference, together with fomial agenda% for Commiltee and Board busin Careful Governor recTuilmenL with appropriate skill4 to ensure all risk areas are eomprehensively Established organisation Stru¢￿Te5 and lines of reprtin8' Fomial wriltcD policies. Appropriate regulatory v¢UiT]g, saf¢guarding procethir¢s and registeTS as requiTed by law and other ¥afebyuardiD¥ regulations" alld Continued profe￿10￿81 development and ￿in1Thg. Registered Company Number. 05142007 Registered Charity Number. 1104425

Bristol Gramnw School (A company limited by guarantee) DIRECTORS, REPORT (conlinued) for th¢ year ended 31 August 2022 The School contracts the w￿]ceS of an independent Health and Safety Conxultant who carries out regular inspections of the 8¢h￿l buildings, overp£e5 various deparnnental risk &&8essm¢nts (with the full involvement of the relevant departmental staffl, Health and Safety audits, with the hibh¢r riyk departtnents being audited mosl freque￿tlY, and provides oth¢r Sp￿la11St advic4 as ￿quired, such as FIT¢ Riyk Assessments. Regular Building Sutveyor Inspections are a180 undertaken. Action lists are PTepared and th¢K are addrtt￿ within the time scale8 approved by the inder￿Ient advi￿[5. The work of the Health & Safety Consul¢ant and professional advisers is overseen by the BuTsAr and Facilitics Manager. Other independent professionai advi8cr5 are contracted by the School wh¢r¢ th¢ KMP and Governors consider this Appropriate. Trait]ing and continual professional development Is also 8¢¢n an importatti way to reduce risks. Profession￿ adYi8er¥ and members of the KMP attend and presenl. wh¢r¢ n¢c¢ssary, ￿ the appropriate Governor c￿mmittee8 and the ￿11 Board to Support the Directors in their Gov¢rn4n¢¢ of the School. Other key 8r¢as of risk that are considered and reviewed by tho KMP. the Board and ils ComTnitttts include: Robust Child Safeguarding Policie5, Systems and appropriate regular training for all staff. Pupil recruiimeJ]t including the selting of School fee$ in relation to affordabilily. Health & Safety. sit¢ securiiy and regulatory requiTem¢nts' Human Re8OUTce matters includin8 complying with trgulations and th¢ ret¢lltson of key members of stsff, both teaching and suppoffj which is Critical to the success of th¢ S¢hiK)I. rr Security, cybercrime conlrol8 and data prol¢¢tion matters. Th¢ safeguarding of the Scbool's Land and Buildings, Equipment and Other Assets including compr¢h¢nsive Trn8urance,' Fund Rai¥ing Poli¢y and ens￿ing the Charitable Objects of th¢ S¢hool are complied with and adVa￿ed. Scenarioplanning andappropriale. promptresponsestoanypJliticaL economi¢ orpublic lThlthclMnE Any t£gal MatteTr' and Governance of the Scknl. ISI Ins BGS was IT￿p￿te<L in March 2019. as part of the routin¢ ¢y¢l¢ of irtspe¢tion carried out by IndependeDi S¢hwl8 Inspectorate "ISI- (our equivalent of Ofsied) wkn sought ￿ ¢onfirni our compliance with The Education (]nde￿￿ent School StandBr&) Re8ulatioL$ 2014. These routine in$p¢clion8 rigorO￿51Y test and demons¢rate that the S¢hool 18 meeting the legal requirements in key areas such as quality of edueation provided. safeguaTding and welfar¢ of pupils. recruittnent of guitable staff. handling of Complaints, and quality of leadthThip and managemenL The Tepcrft is available to read on our website aL' IIGS-Re. laiLlrn._C c)111 ()rf-?1)19. dl. The school received an Independent Schools In8pectorate (ISI) InSp¢￿10n on 17 October 20?2 with the primary focus on the spirilurll. moral, Roci&l, and culturnl development of pupily. saf¢guÈrdin¥. ￿haviOur- bullying,. risk a8essmenL' and the handling of parent%. complaints. The school's ¢omplith¢e with other regul￿10n6 relating 10 the primary f(Kus was alyo in5PCCted. The summary of re￿)rtIng in$pectm' fJnding8 way as follows.. for the regulalionq which were the fiw of the itL4pection, the s¢h(x)I met all of the requirement¥ of the Education ￿ndependertl School Standards) Regulations 2014, no further action is required as 8 resuli of the inspection. The School is due its next routinc regulatory inwtion shortly and has been urtdertaking a number of mock i￿￿e(ti0t￿ in P￿paratIon. Registered CompJny Number.. 051421M)7 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarante¢) DIRECTORS, REPORT (continued) for the year ended 31 August 2022 erlltlon￿ P¢rform4n¢e of the School lutroduedoD ID accordantt with its Aims, Bristol Grammar School encourages all pupih to participate in a variety of activities and Opport￿lties, iM)th ¢wri¢ular and extra-cufficular. This helps to maximise their petsonal developmenl well- being, confidence and teamworK and jusi as importantly. li encoura8es them to enjoy all aspects of School life whilst forging lifekng lriendships. Co-curricular activities are spread across a wide tznge of wrts at]d the perforning arts ￿ well as many other clubs and opportunitie8. A selection of school-wide achievements are detailed below.. Despite the challenge8 and di8Nption caused by COVtD during the last two year4 our exam cohorts achieved exceptional results in their public examinations. A Level Re8uIt$ At A level, ow students achieved a lo￿/• pass rate. Ahnost half of our 140 A level sthdents gained three or more A• and A grades, and over a third of all results were at the highest A grade. This year, forty pupils coted to undertake the Extsnded ProjectQualificatioll (EPQ}, achieving a IINPh pass rate with an impressive 75°A securAn8 A* OT A grade. ternatlonal Bac￿laure￿tr Results The BGS cohort aveTaged 37 (out of a maximum of45} pointy significantly ahead of the global averageof 31.98. Seven BGS sthdents Scored more than 40 pointsi placing them in the top IOOA globally, three studentg scor¢d 43 out of 45. achieved by only 2Y• of candidates across the world and one pupil achieved the top score of 45 which places him amongst the top frdction of a percent of all students globally. Next Step5 Most of this year's UpF¢r Sixth have chosen lo continue to university. with the majority of them S￿Uring their fwst-choice university places- almost 40 difftrent destinations- including eleven to Oxbridge. Our students supported to choose courses that fit their interests and talents best and go on to a broad range of fLrture paths. This y¢ar'8 leavers will follow over 80 diffeT¢nt Cour￿ from Medicine, Economic8, Law, 8md Geography to Air Transp￿ Business S￿dI<s and Japane8¢, Mechatronic and Robotic Engineering, and Conunercial Music. Pupils 4r¢ also going on ￿ Art Foundation courses, Drama ￿h(KIl and to univ¢r5ity study overseas. GCSE R¢¥ylts At GCSE, 800/fj of all entiies were awarded grnd¢$ 7-9 (equivalent to an A or above). Across the year-group, of all eXa￿S taken w¢re awarded an 8 or 9 (equivol¢nt to an A• or hi8her). Th¢ average grad¢ was 7 or higher in 22 5ubjKts, ¢ov¢riug ¢v¢rythillg frow Maths and EDglish to Oreek, Design Technology, Dance, Physical Eduratson. 4Dd R¢ligious Studi¢s. OY¢r 70 BGS pupils gaiD¢d 10 or more GCSES a¢ grades 7-9. Seven pupils achiEvcd gtadc 9s acro&s all of their GCSES, 5iK of who did so in ¢welv¢ SubJ￿IS. Extracurrieular Activitie5 and Trips Our pupils enjoy a wide range of extracurricular activities including m￿1¢, drarnJ Jnd dan¢¢ w¢ll as a diverse range of other clubs, activities and opportunities. The School offers pupi15 th¢ opportunity to lake part in a number of community outreach projects and charity WO￿ which are embedded within tbE culture of the School. The easing of COVID-19 restrictions saw an increase in the number of trip5 and extracurricular activities able to take place, and their return was welcomed by the School communtty. P¢rfonning Art4 ¢ontinu&4 with w¢cesses in LAMDA and music grade examination& There was akn a welcome r¢turn to live perfornMnws, with prth¢tions of The Odyssey, The Tempesl a whole ￿h(￿)I dance show and Autumn and Spring concert4 alongside events such as the Battle of the Bands a￿j House Dance and Drama omp¢titlOll8. Registered Company Number. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (wntinued) for the year ended 31 August 2022 In the Duke of EdinbuTgh's Awwd, virtually the whole of Ye4r 10 took part in the two-day overnight Bronze expedition a¢n)ss Exmoor, remrning ivith a better Unders￿ding of their own abilities And limitations and the Imp(Trrta￿e ofivorking together. In the Sixth Forn). groups successfully completed their Gold expeditions. walking in the BI￿0￿ Bea¢ons and on Datknoor. There were also fouT groups who completed their expryJiti(ms on th¢ water. paddling fTom Hay-on.Wye ￿ Monmouth. We hosd a Team Chess Challenge eveni, which attracted over thirty teams from a wtde rdnge of schools across Bri8tDI and surrounding region8. The BGS First team won the top dion to qualify for the National fmals in London. We also host¢d a Megafinal townament within the UK Che65 Cballenge, attracting over two hundred pupils fTom a lotal of over seventy schools. There was a large BGS contingent, witb sevml qualifiers forthe next stage of this large na¢ional ¢iJmpdition and BGS winners ID the U14 Girls, aTMI Boys, section& In STEM, BGS i¢)ok pJrt in the T¢enTech Awards, a CoM￿tIll0n focusing on innovations to make life better. easier or more fun. Our pupils won three si]ver and one gold awaTi with two proje¢ts reaching tbe final. A team of BGS Sixth Forni stydents r¢ached the final Stage of the Europw Astro Pi Challenge, meaning the experiment they designed nth in spa¢e al￿ the International Sp￿¢ Sta¢ion. Individual success and a¢hiev¢m¢nts included.. a kn)wer Sixth pupil WiTiniri8 a prize for Ru&sian in the 2021 Languages Translation Competstion with the School of IAnguage4 and CultUT&8 ai thc University of Sheffield. six Upper Sixth pupils ¢Ompl￿1n8 a sponsored bike Tide from the Bristol Royal tnfirniary to the Royal Papworth Hospitsl, to raise fimds in support of their friend at school who h&d undergone a heart tran4)lant,' and a Year 9 pupil participating in th¢ f]nals of the Big Bang ComWition, the UK'S top annual science and engineering competition for school students aged I I to 19. achieving a ￿nner-up award in the JuJ)ior S¢let￿e category in the final. Sportlng AchleVerne￿ts Pupils have excellcd iu a wide range of sports, both individual and t¢8rn, at Tegional, n￿lon8] and international leve18. A laTge number have been chosen to play for their counties or nation4lly in selected sports. These include.. A Sixth Forni iK)y representing England U18 Hockey team, titles in th¢ Britith Schools and Indwdent Schools Judo championshi￿ won by a Year 7 pupil. two pupils> playing in their regional D¢tball teaTll, (walifying for the National finaly. a Low¢r Sixth teJmi8 player ￿CeIVIng a place in the U18 LTA national championship& pupils competing in national swimming and artistic qwimming competition¥' alorge number of pupil$- boys and girls- selected for the Bristol D￿elOpment Centre (the first stage of the England Hockey player pathway),. similarly ill cricke( a large number of boys and girls selected for county cricket trainin¥ and devclopment squads, includin¥ one Yefir I I pupil who ¢iJok part in the Gloucesrershire Cricket Foundation Girly, P¢rfornJancc Tour to Sri Lanka. and a ￿Wer Sixth student sel¢¢¢¢d for British Triathlon's Next Genewation programm¢. BGS Spor¢J Te￿5 Ind School Flx¢ures The return of compe¢itiv¢ r￿tureS and toumama)ts saw BGS team$ ￿hl¢ve a variety of suc£ew notably hockey where our U12, U13 ond U14 girls, and boys, teams all qualified for Regional Fit]al5. BGS climber8 won the individual ISA Climbing competition boys, and girls. comp¢titions, addltionally claiming third pl&ce in the girls. fifth in the boys,, and a BGS climber won th¢ South West Schools Climbtng geries. BGS also hoxI￿ the Avon S¢hoois wss40unty, with seven of ow $wdents qualifying for the Avon team to Compete in the South W￿l finals. InfaDt *nd Junlor S¢hool During the 2021-22 a¢ademi¢ year the Infant and Junior childTen ¢ontinu¢d to excel in all areas of the Curriculum, ArL% and Sport. The￿ wer¢ $u¢¢¢ws in dance, musical theatre, LAMDA ¥Dd variou5 music exams. Pupils took part in Younky Voices, perfonlled four diff¢r¢nt shows and completed three residential trips. Other significant achiev¢menL¥ this year in¢lude County selection foT boys and girls ¢ricket, tennis #nd selection for Youth BalleL The Infant & Junior S¢hool supwrt¢d local, national and international charities raising £1.387 throughout the year. 10 Registered Company Number. 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guardntee) li DIRECTORS. REPORT (conlinued) for the y¢ar ¢nded 31 August 2022 The BGS Foundatlon & Old Bristollan5 Commuuit ' The BGS Foundation'saim 18 to engage a global community ofold Bristol1￿& paTentR and otherfamily members and to facilitate friendships> attend social and professional lle￿Orking events and ptDvide mentoring programme8 forpupils and otherold Bristolians. The Govemors and Headmaster, with the WOTk of the Foundation DepaTtsnen¢ are commined to increasing life-changing bursaries for children with talent and Promise from all background ardless of financial means. The Foundation Dryartment provide8 regular communication th￿gh our deAJicated web8ile. online and social media p1arfOrn￿ Promotional literthre and a series of events. Fundrahffing Our ain) is to double ourcurrent bursary provision and enable one in four of our senior sch(x)I children to receive a significant means trsted bU￿ry (averaging at least 51Y/.). A new fundraising driv4 the "500 Campaign". in recwition of the school's quincentennia] amiiversary in 2032, will encourage donoTS to support children at BGS through Means trsted bursaries. oppor￿nI￿e9 to SPJJL8or senior pupils, in particular. are being marketed together with a wider'little and often" approach through the existing Michael Booker Burs8Jies programme. We are also encouTagtng legacy pledges. We plan to raise £12million within the next ten yeaT4 over £lm ha8 been rais￿ in the first year of this campaign . We do not use third paty professional fundraisers and we ensure tha¢ our fundraising conforms to and exceeds st practice. We do not contact the general public, including vulnerable people and any cornplaints. if received, would be r4)Ort￿ and dealt with Promptly and thoroughly. Th¢ Headmaster, with the support of the Bursar, over8tts And monitors the work of the Development Office and the DirectOT of tkvelopmenL and rewrts to a Governorcommittee aThl the full Board. Donations and legacies have been receiv￿1 from ¥ vaTiety of Thiyts. Found¥tion$. Parents. Grandparnts. Old Bristolians and other friends of BGS. The Headmaster. Governors and BGS Community expre￿ sincere thanks for all of th&8e generous donations and legacies which provide life changing opportunities foT the supported pupils and their families. The Pople ChaTitabk new S¢hol4rthip ¥nd BUTWY Award has worked extrgn¢ly w¢ll. Bu￿¢5Sfi￿1Y 5UPPOrting five pupils. Other g¢D¢rous support has f4¢ilits¢ed The Mi¢ha¢l Book¢r Memori41 Bursary S¢b¢m¢ to nd two pupi15' th¢ Bill Brown Chari¢able Trust ¢0 fund ¢wo pupils artd the John J4tn¢s Foundation ￿p￿rted three pupils. The Lknman Charitabl¢ Trusl offered Tllat¢h¢d ￿nding for ¢wo pupils with similar nutch¢d funding for ¢)n¢ pupil frorn th¢ Old Bristolians. Society. There has becn other 8etLerous support whcre the donors have withed to retnain anonym(￿5. ID all. ahn05t 150 pupi15 in the Senior School and Sixth FL)m) are 5UPPOrted with m¢ans-tr8ted fee a￿l￿tance at an averabTe of over a55i5tance, OursiDc¢r¢ thanks to all donors to Bristol Grammar School. through theircontinued gemen￿lty we have been able lo ￿￿¢41¢ a signifi¢ant number of pupils who might not otherwise have this lifeachatjging opportunity. Pllblle Benefit The Charity, in accordance with its Objecti PTovide$ education forb￿ and girls aged ¢18. The Charity also provides public benefit opportunities through.. The provision of means-testoj bursary assistance (up to lo￿/• of the fvll fee plus a contribution to other essential items a pupil may require) to familie¥ whose children co)uld noL forfinancial reasons, othenvise attend the sch￿1. as explained in the schwl's mission slatement on page 6 . Wiihin the eonsrnint&' of the pandemic. the provision of faciliti&8 lo I￿al schools, other chaTities and community groups {At no or greatly reduLed charge)" Being in parn)erships with other schools (t4tste maintained) to PTovide lessons. Advice, sw)pon and gssisthnce asappropriate, (including with the Bristol EducE4tion Partnership ond the Hope Virtual School}. Raising mon¢y for a number of UK and Overseas charities throughout the year, and Participation of many Senior School pupils in Community Volunteering activities. Register&l Company Number.. 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continued) for the y¢ar ¢nd¢d 31 August 2022 The Governors and Headmaster are explorirtg a number of other ways in which the 8¢h(M)I nwy be able to help with educational- and wider- PTovision thToughout the eity. For example, we are found¢r memE¢r of the Bristol Education Partnership> a group of 17 bodies includin¥ sthte schools. independenl 5chool8, ulliveniiies attd the city council, with a number of aims including overcoming di.Yadvanlage for BTiStol's young. We were woting with Ihe Hope Virtual School ts help raise attainrnent in COTe subject GCSES for a numbeT of looked after children, ond Significaftt number of oursixth Forn] and stsff were traincd to bepan of the city's Reading City initiative. befotE COVID-I9 meant thai these initiatives had ￿ be suspended. In fithern)ce of these objectives th¢ Governor4 as charity trustee4 have complied with the duty in g￿tIOn 4 of the Charitie1> Act 2011 to have du¢ r¢gard to the Charity Commission'.4 published gerternl artd relevant Sub sector guidance conceming the operaliort of the Public Benefit requiTemeJit under th¢ A¢t. Bursar . Grants 143 pupils (202¢>21: 171) were awarded fees ￿lstanCe totslling £1,023,548 (2020-21.. £973.789). 28 additional bursari￿ where awarded in 20?0-?I for families who experienced severe fllwicial hardship thie to COVID-19. The Governors and Heathnaster shar¢ a lotvd-tern) commiknent to 8ignifi¢andy in¢reasing bursory supporL A Careful review of a number of criteria are taken into C4)nsideration in the allocation of fthan¢ial award Stholarshi Polle Scholar3hips aye awarded to recognise an individual'8 exceptional abilities in any ort< or more, of a number of Jrea8- academic, 8poIL and the creative aNI perforniing art8. From September 2023 onwards, pupils awarded a BGS Scholarship will receive an annual gTant 10 8UPPOrt their d¢vel¢)pment in ihe field of their award, iL$tead of a fee ￿mI&S1on, and join our Schol8Th Programme, giving th¢m acce&8 to a wide range of oppo)tsnities designed to Stretch and challenge them. ScholaT8hips are avai]able forenty to our S¢nior SclKK)l and Sixth Forni. Scholarship fee Temixsion for the year amounted to £405,511 (2020-21.. £363,712). Teachin Link BGS continu¢d to provide placement training for stydents UTMkrgoing their initial teacher trnining. In addition, several short plawnenLs have been hosted for potenlial PGCE ytudents, includin¥ ex-BGS pupil& The School en¢ourkges BGS 1￿Ching staff to act a¥ examin¢J3 and as5esso￿ for examination board& A D¢E Head ig the Marking Progralnme Leader forthe KS2 MathsN&tionu] Curricu]umTesL%. Wealso have two memb¢rs of thff who are ISI ￿h(￿ThI in4)ector The EnvlronrneDt Sustlnablilt '¢lln BriAtol Grammar School fully a¢knowledgeb its re8&￿)n81bI11ty regarding the ijtipaet it has on the environment and the importance io l¢ad by example regarding su$tainability and rewling. The School does have some con8traiTtts, *uch as tl)e ag¢ and con8trn¢iion of gome of its older building%, atd the li51ed status of the main school building. but has alre&dy undertsk¢n a si¥nificant amount of work to as enviroDma)tally aware and resp0Tr5ibl¢ a8 possible. A number of initiatives- many of which are pupil-led- Continue, such a5 ensuring minimal wasie from all food PToduction and cou4umption. the removal of all single-use plastic water bottles, the provision around the Site of recycling px)inl8, and ¢u¢our8ging more sustsinable modes of trallsFK)rt lo and from school with BGS being acknowledged with an award from Modeshift STARS for the ￿h￿l,￿ travel plan. The Sch(Kpl regIs￿red with L¢¢'s go Zero by 2030 and the Governo￿ and members of the KMP have undertaken dio£usqions with cousulwits" regarding ihe School's ¢aTboD reduction. Whilst there L8 much being undertaken in thi4 area, there are further platjs for pupi18 and staff to inwease the scope and reach of our eniijronmental W￿.. The scl)ool ha5 fK¢Dtly received the Eco Schwls Gr¢¢n Fla8 awattl in recognition of its work An this area. 12 Registered Company Number.. 05142007 Registered CtrAaTity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continued) for the year end￿ 31 August 2022 Gend¢r P4 , G4 rt l￿d Bristol Granmw S¢hool publith¢s its G¢nd¢r Pay Gap Rqx)rt on its website. The school is keen to encourage all applicants, irrespeciive of Bender. to apply for senior positions when these beo)me available at the school - the KMP body hos a rntio of 50.50 womcD to men. BGS offcr5 the same level of pay for ally position of gender. u41 Th¢ School given due consideration lo applicants and employees with disability as documented in our policies procedur￿. In the Employec RecNitment and Selection policy the aim5 are as follows: To ensure that the best possbi le staff are recruited on the basis of their ski118 and ¢xperi¢rt¢e To ensure that All job appli¢ontg ar¢ ¢onsidere4 equitably and consistently- the system tbe school u8es for applications an0n￿lISeS candid￿¢$ during the s¢le¢¢ion pro¢ess to ensure fairness in the followin8 areas: age, disability, employment st8bJs gender (including Send￿ re￿IgnMent), mAritsl status (including civil partnership). r8¢¢ {nalional and ethnic origin), religion (and belieD and sexual orientstion. To C￿ure compliance with all relevant rxornmendations Bnd guidance including the recommendatio￿ of the Departsnent for Educati¢)n {DEE) in Keeping Children Saf¢ in FAlu￿tiOrt (2015 as subsequendy updated) and the Code of pra¢tiC¢ published by th¢ Dis¢losure artd Barring Servi¢e (DBS) To ensure that the School meets its commiknent to safeguarding and promoting the wdfare of ¢hildr¢rt and yOUTJg people by wing out all nece&sary pre-employment checks. To eontinue the employment of, and amging appropriate trnining for, employees of the School who have beeome disabled perxins during the period when they were employed by the sch￿1, and To d¢v¢lop th¢ trniuingtr car¢¢r progression and promotkon of disabled persons employed by the School. Em oi'ee E ¢nt The S¢hiKTrI to provid¢ ¢mploy¢e8 with infornmtion and InCr￿e employee engagetiient in many ways some of which are Is follows: Exfrrnally s¢L aDonymous staff Surveys covering wellbeing and engagement run each Briefings for all staff which include details of budget reviews and rise infomiation when 4ppli¢abl Weekly bulletin and briefing kn keep people infornied on a full scope of School matter8. An Inforn]8tion at]d Consultstion of Employees Committe¢ with employee repTesenlatives from all areas of the School, meet termly as a mintmum Specific ￿sEr sessions to engage employees in a variety of topics and professional deyelopment including cross departmental workjng Positive staff commullity proM￿l￿g engagement within areas of the Sehool OULqide of their areald¢paTtsn¢nL The School has a Joint Nego¢iating Pro¢¢g8 with the National Ethi¢atton Union. ils and St4ff The School community wa3 devastated, in Jjnuary 2022. by the tragi¢ unr¢latrd d￿th$ of two pupi]s- on¢ iti Year l O and the other tn Y¢ar 12. In*mo1 and ext¢rnal support was provided (and continues) to those in our community most Aff￿led by these tragedie8. Our thoughts remain with the families and friends of thege pupit It was also with W sadness we said a finul gwdbye to l¢)ng-servirtg members of the BGS Staff ¢ommurtity. Mandy Meredith, who since 1999 had been part of our Catering Team, pa￿ed away in O¢iotrrtr 2021 after an illn&sA. Mandy's wann Smile and welcoming I￿30nalIty towched the hearts of tnany pupils over the year4 &Sp￿la]lY tha8e in the Sixth Forni Centre and in our Infant & Junior breakfast club. In August 2022, we learned of the deaih of S4r3h Stevens. a VEry wEII-Tespe£ted and long-standing Assistant He￿ in our Infant & Junior School. Sarah had retired in 2018" &8 well ￿ being a much-loved and much-remembered teaL'her in the Junior S¢hool. she was a keen Jnd gencrou¥ supporter of the BGS Wildlife Photoyrapber of the Year competitLO PTomoting atld c¢l¢braiin¥ the creative flair of the Infants and junio￿ in their entrles. 13 Register￿ Company Numb¢r.' 05142007 RegISt￿¢d CIwTity Numb¢r.' 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (conlint¢ed) for the year ended 3) August 2022 Comm￿￿1 Involvement BGS encourages its pupils and staff to become involved in community outreach projects a￿1 WOTK in¢luding the provision of an INSET time (at least half a day a year) spKifio4lly for staff to help with coDununity work. The School &180 offtrR the use of its faciltties and equipment to kK)th local junior and senior state schools and othcr organi8ations and clubs. ¢ither free of Ch￿ge OT at redu¢¢d r¥tes. The school publishes an thtrea¢h Brochure detsiling its parthership8 and ¢ommwiity impact. Charl F￿ndraIsItt Raising money foT Clwity 1$ # very Anwrtant part of Scho￿ life for pupils and other memb￿8 of the oynmunity at BGS, both on a whole school basis within the senior, junior and infaDt schools, and also by individual Hou8c events, encouraging kindn¢s5, t¢am workand social responSi￿111ty. Both pupils and staff sit on the school's Charity Comn)ittees. A total of £8,976 was Taised in 2021-22 for a diver¥e rang¢ of Chariti¢5, both in the UK and Overse￿. Charities ¥worted I￿luded Moro¢¢o Education For All ajxl Emergency Committee- Ukrain¢. FINANCIAL REVIEW AND RE "LTS FOR THE YEAR The School'¥ main sourc¢s of r¢venue are from ￿h¢)01 fe¢4 investment iticome derived from its pern)an¢nl endowmen¢ bursary and other funds raised, legacies and receipts from externd charitable trusts. Third party revenue ib also generated from the ¢ommer¢ial and community use of the School's 1532 Perforniing Arts Centre sI￿s Facilitie8 through its tsadiDg subsidiary BGS Enterpriw Limited. The S¢hools Fee8 Policy is lo set th¢ f¢e5 at 4 level which will be suffi¢ient to meet the running costs plus an appropriate element for maint¢Danc¢ ond capital invesknenL The invcslment income will continue to be used to provide mean¥-Icsted bursary a85istsD¢e with fees. After two yeap. of Government restrictions thie to the Covid-19 pandemic, the School w8s fully open throughout the y¢4r to 31 AUS￿¥1 2022. School activities began to reDJrn to nomial and Commercial and community lettings wer¢ pO￿lb1¢ for the whole year. The trading perforn)atJce of the School showed a deficit on unregtricted fund5 (before inv¢8thhent gains) of £194,563 {20?1.' SUTplus: £87,302). This is after8 depreciation charge in theyearof £l.052.033 (?021.. £1,042.538) aDd donation8 of £162.138 (?0?1.. £28,812). It w&$ agreed thai one unrestricted donation from 8 l¢gacy receipt thould b¢ uKd to pay for pupil bursarie$ and £117,364 of donation income was tran8ferTed io an Un￿s￿leted delignated fund. The unrestricted defL¢iI is also after exceplion81 repair and refurbi8hment oxpendith in Telation ttTr the University Road Building of £333.436 and a eharge of £107.012 foT back dated pay following the Supreme Court Ruling on the Harpur Tmsl Y Brazel case in July 2022 which required all employers lo review the al¢ulati¢)ns of holiday pay for part year employees. Prior to this coun rnling the ￿h0o1 had pwiously used the holiday guidelines for terni time only staff .Yt out by ACAS. Th¢ Sch(MTrl Key Perforniance Indicators to Moni￿rIbe School's financial F¢rf0m￿e¢, examplu of which, with fvrther comment below, are the following: 2021-12 202(k21 Pupil number at year end Staff costs (¢xcluding holiday pay adjustment) a8 percenrag¢ of in¢ome (excluding donations) Bur&ary, s£holarship and other fee rerni¥sions as per¢¢ntage of ¥n)s8 fee income Year-end Cash balance Capital expendilure {itt¢luding investment property) in year 1.337 1,356 73.O•A 10.4QA £6,161.266 £252,639 72.6Y. 10.3Y. £5,144,312 £134,461 The Governor8 ackDowledge that the trading Ttsults have been impacted following the two-year ￿lod of the COVID-19 where srhotsl feeb and discount8 were 8et at a level in orderto help the n￿lY familits, within the BGS community. who h4d F*en hit financially by the pandemic. 14 Registered Company Number.. 05142￿7 Regisrtered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) DIREcfoRS' REPORT (Continued) frir the year ended 31 August 2022 Control ov8r cash flow TenLained a priority with expendI￿re focus￿ on the delivery of a quality education and health and safety matters. Expendittwe on capital assds has been defell￿ during the year. Despite the pandemic the i￿tereSt from f8mili&¥ wishing for their children to join the school remain5 strong with re¢onl in take for 2022-23 in the Sixth Forni, and the Khool's strongest ever roll. Staff salari¢$ are th¢ S¢h4x>I's18ryesi expendlture cost but sthff are also the School's greate31 asseL The school's staff worked tremend(yuslyhard kn deliver an excellentac&demic. extrtrcLwrAcularandpastoral support programme through the pandemic. &s at all other times. The pupils, achievements in public examinations were outstanding. The Governors, policy is to trward staff appropriately to ensuTe the School recNits and retsins quality teaching and support staff for the etTicient operation of the School and to deliver an exceptional educational experience for All our pupiis. The Governor5 endeavour to consistently keep fees increases as low as possible, subject to the onornic and political CODditioD5, Lo help all faTnili¢s alld in this contcxt carefully ttview all staff and other cos The numberof puptls receivinE bursory support has increased over the last five yeaTS. It is the Governors. mission to in¢r¢ase bursary suppor4 subject to future fvnding and other constraints, for pupils who will benefit from an ucation at BGS alld would not ot1￿15t be able to attend the School. The Govern(￿ monitor the School's cash position and are content with the change in year-end cash balance l¢ctin8 the very Strict cost Control during the period of the pandemic. A ststement of cash flows can be found on page 27 of the Finan¢Aal Sthtements. Re ¥tered Char Char8es have been tf8Astered in favour of HSBC Bank PIC over some of the Investh]enl Properties owned by Bristol Grammar School and six house$ that BGS owns on Elton Road. Clifton, Bristol, as detail￿ in note 15 to the Accounts. The charges relate to a loan from HSBC taken (wt fortheconsttuction of the Perforniing ArL8CenlTe. Coln Coneern The Governors, review and monitor the School's detalled income and expendithre budget which in¢ludes conlingencie% for the ri$ks of lost income or additional expenditUTe, most proMinen￿Y in relation to the pandemic in recent lime8. Managemeni account8 are prqmred regularlyand results are monit¢)red c108ely against budget with atjy material variances analysed in detail. The School's projections including sensitivity analysis and ¢￿h flow forecasts, closely reviewed by Governo￿ in Order to make prndent financial dKisions for the Sch¢x)l. The Directors fully consider the following in their analysi8 and review of goiDg concern: The accounL$ of both Bristol Grammar School and IL8 trading subgidiary BGS Enterpriqes Limited. Budgets, fL)reca8ts and cash flows which extend both twelve months beyond both the Balance Sheet date, 31 August 2022, and the date when these financial statements are signed off. Th¢ bank bal￿¢¢ At the 31 August 2022, which remains strong and reflects the cost control during the peri(d of th¢ pandemic, th¢ deferral of certain capitsl expenditure, and the cash collection of the autumn terttl 2022 fee5 which has been good. What ¢xp¢ndityr¢ is #ppropiiate for the sustyinable fit¢uTr of th¢ School. BriAtol Grammar Schwl is in compliance with atl its banking covenants. The pupil numb¢rs remain strong with a Ereat degl of interest from prospeetive parents and puplls wkshing to join the ￿h0O]. Th¢ Baiao¢¢ Sh¢e¢ a¢ 31 August 2022 is healthy and both ¢ost control and cash coll¢ction have ¢onlinued #s a priority. The Gov¢rnors. Headmaster and Key Management Team ar¢ continuing wi¢h their review tsf the School and busin￿ i)peralions to ensure appropriate efficiencies. The DI￿¢t0￿ are therefore content that the f]natt¢ial gtatements have I￿ell drawn up on a going concern basis. 15 Registered Company NumbeT'. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (coniinued) for the y¢aT ended 31 August 2022 nvestment Mana Jnent At the year end the School'A Inve8tments, combining secuTitie8, wmrnucial and ￿SIdential property. ¢otsll £21,294,386 (2021: £21,323.651). Challenging market conditions during the year due to the Ukraine War and subsequent inflation> C￿Cla11Y in global enew prices, led to the School'¥ itivestments experiencing unre41is¢d losses during the yeaT. Th¢ S¢hool's investtnent Property portfolio experieneed a significant gain of £686.314 following a valuation by a firni of ll)depu)dent chartered surveyors at 31 August 2022. The ¢ombined loss on inve&lmcnts totailed £652,470 (2021.. gains of £2.521.816} and the Investsneni Inc¢)m¢ generated during the year was £562J22 (2021: £521,223). The Di￿lOr8, policy is to hold a bBlanc¢d portfolio of investtnents which enhance the ml value of the capital invest¢d whiLqt al$0 pr￿uring an appTopriate level of income to maintain th¢ S¢h<x)I's commitment to provid¢ assistrnce with fees for th08e pupi]8 who would llot othen¥ise be abl¢ lo attend BGS and this remains a key goal for th¢ School. The S¢hool'8 inve&tmentwrtfolio h8s been split and 18 managed by Evelyn ]nvesimenl Management LLP and Ruffer LLP in order to provide tht School with balanced and compl¢m¢nt4ry investment portfolios that hedge agaiL8t ¢conomic andpoliti￿1 volatility. This p)li¢y continues to be ￿lISfac￿ despite the political and economi¢ condilions. The Governors ￿e1ve and review In￿81￿ettt summary reports from both Investment Managers regularly through(wt the year and either me¢t with the tnvesttnent Managers or speak via a oonferellGe call to discuss the portfolios ajhl tEview stTrtegy at l¢a5t thre¢ limes a year. Re8¢rves Pollc The Governors, resuves policy 18 to produce Suffi¢l￿1¢4$￿ Su￿1￿￿e¥ of unre¥tTiCted fi￿dSca¢h year, so that after the add back of depreciation, the School generates liutTAcient fijnds to maintain and d¢v¢lop the School's faciliti&q, uipm¢nt and iechnology. tomaterially contribute ro Bu)wy fvnding, to %rvi¢¢ any capithl and payments outstanding loans and to maiDt4in ¥ balan¢e as a ¢ontingency. Extem41 trorrowing 18 as and when nece$8ry for ally material capitsl projects after the fimal approval of a business plan by the Governorx. Th¢ Gov¢rnoTb have prudently fixed the rat¢ of inl¢r¢¥t OD the current batth loan for lis tern) whi]st interest raleh remain a¢ a very low lev¢l. The Sch(x)1's UnTt%lc￿ fiJnd% are deployed a$ part of the School's building4 wnd equipment in tangible fixed asts. In th¢ absence of free reserves (Un￿￿1¢ted fundt ￿￿the1d in tangible fixed the ￿h0o1,8 Govern￿S ensure day io day working C￿lt￿l requirements ar¢ by careful management of its tshort tenn lkquid resources. The Gov¢rnor8 eonqider that liquidily of o terni's woting capital requirem¢nts w4)uid be desirable. Taking S¢hwl's terndy unre¥tricted opeTation41 exp¢nditur¢ and after adding back the d¢pr¢ciatioD cost gives a target for liquidity of oround £6m. The policy is, und¢r nom)¥l economic conditiO]L8, to Continue buildinE up liquid r￿c￿e$ out of annual operating sutylu% and unreslTiCted donations, subject to fiirther n￿es￿ capital atld plant￿￿ maintenance expenditure and PTovision of appr(yriate bursary SUp￿rt for pupil&. R¢%tri¢ted aTrJ Endowment funds are held in ¢ash. property and inv&4tments.. Capital and income from restricted funds are #lmogt entirely restricted to the fundin¥ of but￿leS. Income from th¢ Endowmcrti funds is Kqtricted to support Ewrsary funding via the unrestricted fund. Further detail on the level of reyerv&% held is provided in r¢levant SUPPK)rting note$ to th¢ Financial Statements. The balances are monitored elobely by the Board and #r¢ in line with budgeted fore¢asts. At 31 August 20ti? the Tewve4 held by the School were unrestricted funds of £15.682.691 (including d¢signated fund¥ of £405,412), T￿trICted fund4 of £? 81.5?8 and endowment fuud5 (Trf £19,547,900. Unrestri¢ted fimds include a tangible fixed &K8et fund of £16.466,666 (the total book value of uurestriGted tangible fixed &$8ets held Jt thai date) plus 8 getjeral unrestricted fund of £11.189,387). Registered Company Number. 0514?007 Registered ChsTity Number. I l(M425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (conlinued) for the year ended 31 August 2022 How tbe Bord ¢om iIE8 With Its Section 172 Du Se¢tion 172 (1) of th¢ Companies Ath 2￿6 (Statenwit of Dire¢tor'8 Duties ￿ Stskeholders) rffjuires directots to t irt good faith to prornote the 8u¢ce8s of the charity foT the benefit of its members. and in doing so have rogard (among8t ¢)ther mallers) to.. the likely consequences of any decision in the long tern?. the interests of the charitable company's emplo th¢ D¢ed to foster th¢ thari¢abl¢ Co￿paIly,s bu$iue&s trlatiotiship$ with suppli¢r& parents and otheTS' the impact of the charitable company's operations on the community and the environment. thedesirability ofthe charitable cOmpanYn￿lntsinlttg arcputstion forhigh $tandar&8ofbusine&qeonduct' the need io aet fairly &q betwttn members of the charitsble company. As set oui on page 12 within 'l￿bIle BenefAV' and on pa8e 14 within Tommunity Irtvolvemenv. the School ha3 developoj links with a wide rnnge of irtdivithials and orgonisations to ensure the wid&%t possible acce&s to the exccllent eth￿￿tIOn thai the School deliver5 and, within the e4)n8trdints of safeguarding. the use of its facilities by Community groups and other u8er8. The Governors seethe reenergised fvndrnising initiatives as all ]M￿r[allt stratsgi¢ move in achieving the S¢hwl'8 Mission: w provide an ¢x¢¢ptional at)d routthd education to th08¢ who migm benefit fm il. regordless of their background and finaneial means. The Sch(K>l is proud to bc a founder member the Bristol Education Partn¢rship which was set up in 2019 with the aim of broadeninE young people's experience of edueation. opening up new opportiJtiiii¢s ond over¢omirt8 disadvanthge. It As a Collaborative arrallgement Invol￿￿8 six state secondary sclKX)Is, 8ev¢n indep¢nd¢nt whoo]s. St Brendan's Slxth Form College, University of Bristol. Unive]¥ity of the We8t of England and Bristol City Coulleil. working together to enrieh education and improve outcomes for children and young people in the city. Projects, events and a¢tivities are organised in parti￿Sknp with a ￿lde range of organi8ations from acr088 Bristol. giving youngpeople access to the best that ourexcitingtr aThJ vlbrant cityhas tooffer. A numberof teo¢hernetworks have bea] set up to ea)able collaboration acm&s partnerschools so thai b¢st prg¢tic¢ ¢on b¢ shared. The School commwjity also undertakes a number otherinitiatsve3 and volunering to help with state infant. junior and senior Sch￿18 in the in¢luding teather traiDing. Through membership ofHMC, IAPS, AGBIS and ISBA and through networking with peer groups we ¢nsure that we Are able to attain the higbe8t 8tandaYd8 of quality and perfonnance. The GOv￿noT& Heathnaster and KMP in addition to the extremely imIthant f￿uS on the wellbeing and m¢ntal healtb of the School's pupils and their families, also treated the wellbeing of the tsaching and staff a$ an absolute priority. Details of how the School has engaged with employees and had regard to employee interests And employmen¢ consultsiion Can be found within"Employee Engagement" on page 13. Communication with ¥taff was increased throughout the pandemi¢ to keep coll¢agu¢s fully infornied and to monitor wellbeing. TheGovernoTscan demonstrat¢the promotion and Suc￿9 of thecharity for the benefit of ihestskeholdeJB through the "Owational Perfornwice of the School" included within this S(rategi¢ Report. The School has continue despi* ail of th¢ ¢hallenges of th¢ pandemi¢. ¢0 d¢liv¢r higb quality academic education as well as pastoral and wellbeing SUFvor4 throughout the period of the pandernic. 17 Registered C¢)mwany Number. 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continued) for th¢ y¢ar ended 31 August 2022 The Governors are responsible for strategic planning and wli¢ymaking for the School 4¢¢0rdinglyJ all key thcision$, referring to the ¢urrent perfornjance. and the ￿tllre longer-terni plan¥ of th¢ charity stakeholders, are taken by the Board irt ¢on8ultstionwith theHeadmasi¢r. The School iy govemedby the govorningb(MJy {Board) which delegates to a number of committees. Memiwsbip of eaeh committee is outlined on pag¢ 2. A number of additional online Board M¢¢tin￿ were held during the pandemic to ethure all Governors were kept ￿llY infornied, with Govemmenl guid¢lines continually changing. Ther¢ was also considerdble input from k¢y members of th¢ Finance and General Puyposv Governors Committeetogetherwiththe Headmasterand BuTSarin monitoring the Sthool's fin￿CeS and cash tlow durin¥ the perio(L Further inforn)auon can be f4)und in the '￿)per￿lonal Perfornian¢¢ of tbe School" and "Financial R¢view and Re8ults for the Year" within this Stratr¥ic RewrL Strearnilned Ener Dd CarbDD Re orti SECR The SchtKIl is pleased to report ils UK ¥reenhouse gas (GHG) emi&8ions and encr8y usage data for the yeor I September 2021 to 31 August 2022 to¥¢ther with comparative figure& 2022 2021 Energy consumplion to calculate emissions (kwh) Scope l.. Emi¥bion% in metric tonneb CO2e Gas ethjsumption Owned transport- mini-buw a]Ml van8 Tothi Scope I Scope 2.. Emi&yions in melric tonnes C02e Purch&qed clectricily S¢ope 3.. Emibbionb in metTi¢ ¢owi¢s C02e Fuel r¢imbur¥ed for travel in eD)ployee owned vehicles Total gross emission in metrie tonnes C02e Intenslty Rtio.' tonnes CO•e perpupil based on Autumn roll 4,140,455 4,549,636 519.86 5.16 595.56 2.62 S98.18 525.02 242.47 271.7 1.16 773.08 871.04 0.57 0ffj4 Quantllleatlon And r¢portlDg methodoloEY The 2019 UK GovernmentEnvironmental Rep)rting Guid¢lineb and the GHG Protocol Cowate Accounting and Reporting StandaTd w¢te followed to ensure ihe SECR r¢quirements were met. The energy data has been conbisiently collected frorn energy mcterin¥ supplier invoitts, employee repayment elaims and minib￿8 and van vehicle usage records. The etwy dats wag con¢rted to carbon emi&qions using the UK Government Conversion Faetors for Company Reporting. The associated ¢misi+iont are dI￿ded into the ¢ombustion of fuels and the operntion of facilitieb (Scope l), purchased electricity. healing and eooling (Scope ?} and l￿dITEct cmissions that occur a ¢onsequence of S¢hool a¢tivitieb (SCO￿ 31. Tlwoughoui the period of th¢ pandemic the use of eDergy was partieularly challenging as th¢ Government covtD guidan¢ stressed the importance of rooms being well ven¢ilated but at the same time there is 4 requirernent for h¢aiiu8 to keep room8 ai appropriate temperatuTrs. Gas and ¢lectricity con%umption fell in ?O?1-12 as ventilation me%uT¢S r¢duc¢d and in general the ¥£h(K>l benefited from warnier ternperatures. A8 school a¢tivitie8 retyrned to more usual patterns with th¢ lift&nB of pandemic limitation8, travel by leh(￿1 owned and employee oivned vehicles Register¢d Company Number: 05142007 Register¢d Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS. REPORT (continued) for the year ended 31 August 2022 Musures tkeD to Imprnve energy efficlency The SchiKTrl has installed sm4rt meterx acr0&8 th¢ rnajority of its premises. Profession41 advicc is sought for any capital works or major re￿￿]shment pmjects to enqure environment regulations are taken inlo ¢onsideration and appropriate yjstsinable matsrials are used. Within the constralnt of the Sch￿1,8 site and the age of the buildings, includin8 the listed slatLLS of material parts of the sitc, careful envirotunental consideration 15 8iv¢n for the r¢plawnent of items suth boilers and heating systcms. Improved insulation is carriL¥l out wh¢r¢ possible. The Schwl has ende4voured to U5¢ LED lighting systems wheT¢ possible and has undertaken a rolling programm¢ of r¢plawn¢nt th¢ School's ¢Stat¢. The great diversity of our School, and the provision of cfredueation for ￿18 year olds. means that children travel from all across the city to attend BGS aThl whilst we are focused on minitllising travel by car, whenever that It? possibl4 it is tnevitable that for bome given the ditTiculty of using publi¢ tranS￿rt to trdv¢rse the city at a young age. there is no alternative. The School has been awarded the Mode8bift STARS Regional Schoois Travel Award. The School wns E¢0 Club8 both for the younger and senior pupils and a180 lessons are part of the curri￿l￿n to ensure all children in the school have a good knowledge of detrimenlal impacts on the envirimTna]t. The ￿h0o1 recently receiv¢d th¢ Eco School Green Flag award, &8 a result of the wo of these Eco Clubs. Staff hav¢ been encouraged to muximi8¢ their U8e of technojogy and renwte training OPPOTthnities to r&Juce di8tan¢es travelle 19 R¢gi5t¢r¢d Company Numbcr.. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (Continued) for the year end￿ 31 August 2022 STATEMENT OF DIRECTORS RESPONSIBILITIES The GovernoT8, (who are also directors of Bristol S¢hool for th¢ pu4)oses of company 14w) ar¢ responsible forpreparing the Directors. Report (and the incorp()rai¢d Strategie Report) and the financtal slatern¢nts in accordance with applithle law and United Kingdom Accounting Standards. Company law require8 the Directors ￿ prepare financial staiements for ea¢h fuhgn¢ial year which ¥ive a true and fair view of the state of affairs of the charitable Company and the Group 8Dd of ¢b¢ it)coming resources and application of re50urc¢s, including the income and eXpendI￿re. of the ¢lwit8ble Group for that period. preparing those fU￿1¢la1 statfflnenty the Directors are required to.. select suitable ￿V￿ling policies and then apply them consistently" observe the methods and prin¢ipl¢8 in the Clwities SORP. make judgEments and estimates that are reasonabl¢ and prudenL Sthte whetherapplicable UK Accounting Standard¥havebeen followe￿ subjecl lo any Mat￿la1 d¢partur¢s di￿10￿￿ and explained An tbo financial stst¢m¢nts.' and PTqiare the financial statements on the going concern basis unles8 il is inappropriate to presume that the charitable cornpany will r(Trntinu¢ in busine&g. The DirectOT8 aTe responsible for k¢¢pitig ptDper accounting r￿0[￿3 whi¢h disolose with re&wnable accurxy at any time the financial rosition of the ¢haritabl¢ Company and the Group and ¢0 ¢nable them to ensure that the financial statements Comply with th¢ requirements of the Companies Act 21X)6. They are a150 reswnsible foT safeguarding the a86ets of th¢ charitsbl¢ ¢ompany Ond the Group and h¢DC¢ for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The Directors eonfirni tl]at they have ¢omplied with the duty in ￿tIon 4 of th¢ Charities Act 2006 to have due regard w the ChaTity Commi￿10n.5 g¢n¢ral guidance on Public BenefiL The Director3 have ￿ferred to the guidance in the Charity Commission's ¥¢n¢ral guidance on Public Benefit when T¢viewing the School's aims and obje¢tives and in planning the School's futur¢ a¢tivi¢ies. In particular, the Directors have considered how planned a¢tivities will contribute to the aim8 and obj¢c¢]Y￿ th¢y have seL nt as to Dlselosure of informatiOD to b AudltDr The Dire¢tors who were in otTice on ihe dare of appr(trval of these financial ststemenL8 have confmed. 8s far 8S they are awaTe, that there no relevani audit inforn￿tIon of ivhich the auditor is unaware. Ea¢h of the Direetorg have confinned that they have taken all of the $t¢ps that they ought to have taken as Dire¢tors ifi order to make thems¢lv¢s aware of any relevant audit infornjation and to establi4h that the auditor 14 aware of that infomiation. AU RSM UK Audii LLP ha5 indicated its willinw to continue itt office and will be reappointed attheannuaj general me¢tsng. The DirertoTh RetK)rt (and incorporaied Strategic Report) w&8 approved by the Boord on 9 December 202? and signed on IL8 b¢half by". Romesh Vaitilillgam Director 20 R¢gisi¢r¢d Company Number. 05142007 Regi¥t¢r¢d Charity Number: I1(14425

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRISTOL GRAMMAR SCHOOL A COMPANY LIMITED BY GUARANTEE) Oplnlon We have audited the f]nancial ¥tst¢rnents of Bristol Grammar School (the 'pyrent ¢haritable company.) and it 5ubsidiari¢s (th¢ 'group') for the year en(led 31 August 2022 which ¢ompri5¢ lh¢ Consolida￿1 Statemenl of Finanetal A¢tivities, tbe Consolidat¢d and Sehool Ba]2nce Sheets. the Consolidated StAtrAnent of Cash Flow8 aud noloi to th¢ fiTwiciai st4teJDents. including 5ignifiwit acwun¢ingpoiiri¢s. The fthan¢ial reporting framew(￿ tha¢ has been applied in their preparation is applicable law 4Dd United Kin8dom Accounting Stsndard4 including FRS 102'The Financial Reporfing StwthTd appli¢abl¢ in th¢UK and Republi¢ of JT¢laThi"(Unit¢d Kingth)m Generally Acc¢pl¢d Acc¢)unling Prdcti¢e). In our opinion the fjnancial ststements.. give a tn￿ and fair view of the state of the group's and the parent cl)aritsble conwany's atYaiTS as ai 31 August 2022 and of th¢ ¥roup's inwrning re￿Ir￿ and 4wlieation of [¢t￿llre¢s, ineludirtg its in¢oJtt¢ ottd ¢xpenditu￿ for the year then ended. have been properly prepared in accordance with Unitsj Killgdom Genernlly Acceptoj Accounting Practice. and have been preptred in aeeordonee with the requirements of th¢ Comparties A¢t 21KJ6. Basis for opinion We conducted ouraudit in accordance with International Stsndards on AuditinE (UK) (ISAS IUK)) and applicable law. Our responsibilities under those stsndards are ￿rther descriixd in the Auditor's reS￿nsibIlitieS for the audit of the financial stslements seciion of our rewrt. We are independent of the grwp and pamt ch&itsble company itt Accordance with the ethical requiremen¢s that are relevant to our audit of the financial staments in the UK, includtng the FRC'S Ethical Standard and we have ￿lfilled our other ethical Tespongibiliti&8 in accordance with these requirements. We believe thai the audit evidence we bave obtsined 18 sufficient and appropriate to provide a basis for ouropinio Condu￿0￿8 r¢l8tlng to golng eon¢ern In auditing the fmatscial stalements. w¢ have con¢luded that the try￿ee6. use of the going concem basis of counting in the preparation of the f]nancial statements is appr(VTiale. Bad on the work we have pKrfomied. we have not Identifi￿ any material uncertainties Telating to events or conditions thar, individually or collectively, may Cast significant doubt on the group's OT parent clwitable company's ability lo Continue as a going concern for a period of at least twelve months from when the financial tements are authorised for i$8ue. Our responsibilities and the ttspOnsx￿11ItsCs of the ￿St¢eS with reS￿t to going concem are thscnbed in the Televani sections of this reporL Other Infonnatk)n The other infoTmaiion compis¢s the inforniotion An¢luded in the Dire¢tors' Report ottw than the financial staiem¢nts #rtd our auditor'4 rep(￿ thereon. The trustee8 are responsible for the other infom0ti0n contAin¢d within the Director%. Report. OUT opinion ort the fmartciAI statements does not eoverthe othcr inforniaiion and, ¢xc¢pt to the ¢x*nt otherwis¢ explieitly Stated in our repor¢ we do not express any form of &&4uranc¢ ¢ott¢lwiort ther¢on. Our Tespon8ibility is to Tead the other infomlation in doing 50, consider whether the other infornvltion is mal¢rially inconsisteTht with the financial %tatements or our knowledge obtained in th¢ ¢OUTP< of th¢ audit or oth¢rwi8e 9pp￿s lo be mal¢Tially misstated. If we identify such material inconsistenci¢8 or apparent m&terial mi88tal¢ments, we ar¢ r¢quird to d¢ternkine whether thLS bllvey rise to a mateTial miSytat¢m￿t in th¢ financial t¢ments th¢ms¢lves. If. ba8¢d onthc work we have perfOrn￿d, we coneludethatthere is4 material mi&8tatement of this other information, we are required to report that f8CL We have nothing to report in thi8 regard. 21 Registered Company Nwnber: 05142￿7 Registered Charity Number.. 1104425

DEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRISTOL GRAMMAR SCHOOL A COMPANY LIMITED BY GUARANTEE OplnlDn8 On other matters prescrlbed by the Colup￿leS A¢t 21N16 In our opinion. b￿d on the work undertaken in the course of the audiL the inforniation given in the DiTectors' Rep)rt. whi¢h in¢ludes the Directors. Report and the Strategic Reportprepared forthepwpo8e8 of company law. forthe financial yearforwhich the financial staternents Are prepared is consistent with the financial $ta¢ements' and the DIr￿tors. Report and the Strategic Rer￿ included within the Dire¢tors' Report have been prepared in a¢cordan¢e with applicable legal requirements. M4¢ters on whieh we are required to report by exception In the lighi of the knowledge and understanding of th¢ group and the parent eI￿rItable eompany and their eDvin)nment obtained ID the course of the audil we have not identifi¢d myterial misstatements in the Ditrctors. Re￿1 or the Strategic Report iticluded within the DiTectOT8' Report. We hav¢ nothing to re￿rt in Tespect of the following mattets wher¢ the Comp•)ies Act require us to report to you if. in our opinion.. adequate ￿Counting rccords have TJOt been kept by the parent charitable ¢ompany, or re￿rns adequate for our audit hav¢ noi received from branches not vtsited by u$. or the parent ¢lwitsble company financial ¥ta¢¢rn¢nts 4re not in agttemellt with the accounting r￿ordS and T¢tums: or certain disclosures of tru8tee8' ￿MuneratiOn specified by law are not made. or we have not received all the inforn]ation and expla￿tionS w¢ rewire for our audit. Responiibilitiej of tTh5tee$ As explaitted more ￿llY in the Statem¢nt of TTUSt¢u' rwxibililies setout on page 20. the tNstees (who are also the directors of the charitsble company foT the PUTPOS￿ of Company law) are r￿￿onsible for the preparation of the financial 8tatements and for being ￿tISfied that they give a trne and fair view, and for such internal control the trustees deternjine is nece85ary to enable the prepardtion of fllwicial statrments that are free from mal¢Tial misstht¢m¢nL whether due to fraud or error. In ptrparing the financial 8tatrment$. the trust¢es are Tesponsible for as8es8ing the gTOUP'S and parent charitabl¢ company's ability to continue J4 a going ¢on¢ern. disclosing as applicable, matter8 T¢l&ted to 8Oill8 eon¢ern and u$ing ihe going concem basis of a¢¢ounting unlegs the ttustees either intend to liquidate ih¢ gmp or parent charitsble company or to ce48e oternlions. or have re￿1811¢ alternative but ￿ do 30. AMdltor'$ re8PODStbllltles for the audlt of the Ilnandal 8tatements OUT objective8 are to obthin Msonoble a￿¥UTance aknul whether the financial stal¢m¢nts a8 a whole gre frtt from maierÉal mi$8tatemenL wh￿ber due to hud or error, and ￿ isque an auditOT'S rewrt that in¢ludes' our opinion. Re&qonable aswran¢e 18 a hi¥h level of 88surance, but is Th)t a guaTanie¢ that an audit ¢onducted in aecordance with ISAS (UK) Ivill alwayx detect a material missthtement when it exi¥ts. ML&8tstements ¢an arise from fraud or errorand are con¥ideredrnaterial if, individually orin the aggregate, they could reaponablybe¢xpe¢d to infll￿)¢e the economic decisions of U*TS ¢ak¢n OD the b&%is of these financial ststements. 22 R¢gistered Company Number. 05142007 Regi￿ered Charity Number. 1104425

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIUSTOL GRAMMAR SCHOOL A COMPANY LIMITED BY GUARANTEE Th¢ ¢xlent ¢0 whl¢h the audlt w4s ¢on$lO¢red ¢ap8ble of d¢te¢tlDg Irre8Mlgritie4 Indudln% frud JTregularitleS 8re Inst0￿¢S of non-compliance with laws and Tegulation& The objectives of our audit are to obtain swffi¢i¢nt aFVTopriate audit evidence regarding compliance with laws and regulations that have a direct effect on the demiina¢iL)n of material amounts and disclosures in the f]nan¢ial statements, to perfonn audit procedure8 to help identify instances of non-compliance with other laws and regulations that may have a materiaj eff￿1 on the financial stat¢menLs, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the al￿aL In relaiion frau& the objectives of our audit are to identify and th¢ riyk of material mis8tatem¢n¢ of the rllwicial statements due to fraud, to obtain suificient appropriate audit evidence regardiD¥ th¢ &4¥¢wd risk¥ of material mi&¥tstement due ￿ fraud through des'igning and implemeniing opprop]iat¢ r¢spoJL8es and to res[￿d approprlately ￿ fraud or sugpected ￿ud idetttifi￿ during the audiL However, it is the primary responsibilty of managemenL with the oVe￿Ight of those charged with governance. to ensure that the entity's operations are conducttd in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. In identifying and a￿SSIng risks of material ￿l￿tatement in Tespect of irregularitie8, inchJdinR frgud. the 8roup audit engagement team.. obtained unde￿landing of the naturE of the 8ector, includin8 the le8al OTKI regulatory frnmewrt that the group parent charitable company 0F￿te in and how the group and parentch8ritsbl¢ ci)mpanyar¢ co￿pIY1nB the legal and resulatory framewoTk. inquired of managemenL and those chaTged with governance, about their own identification and a&sessment of the risks of irregularities. including any known actual, suspected or alleged instances of fraud; discu￿d rnattcrs about non-compliancc with laws and regulations and how fraud migh¢ wxur including essment of how and wh¢re the finan¢ial st8t¢m¢nts may be sus¢¢ptibl¢ ¢0 fraud As a result of thes¢ proc¢dyr¢s w¢ consid¢r th¢ mosl 8igDificant law8 aDd ￿gulationS that have a dir#t impact on th¢ financial stat¢m¢nts ar¢ FRS 102, Chariti¢s SORP (FRS 102). Companies Act 2006, Charities Act 2011, the parent ¢harEtable company's governing d¢)curnent, tax legislatioll and Charities {Protection and Social Investsnent) Act 2016. We perfomied audit pr<￿edureS to detect non-¢ompli8nces whi¢h may have a material impaci on the ffftancial statements which included rtviewing the fittattcial ststements includin8 the Trustees, ReporL remaining alert to new or unusual transacti<)n5 which may not be in accordance with the governing do¢um¢nts, inspecting c(>rrespondence with local tax &uihoTitieR and evaluating advice Tcceived frorn internavuternol advisors. The most Signifi￿At laws and ￿gulationS that have an indirect impact on the finaT]cial statements are The Edu&rytion (Indepsndcnt Sch(xTrl Statldards) Regulations 2014, Kecping Childrcn Safe in Education under sectiot) 175 of the E(lucation Act 2002, and the UK General Data Protcction RegulatlOD (UK GDPR). We perfomied audit procedu￿& to inquir¢ of rnanagement pnd those ¢harged with govern8n¢¢ wh¢ther the charithble company is in omplianc¢ with thes¢ law pnd r¢gulation8 and inspe¢ted ¢ownd¢T￿c with regulalory authorities. The group audit engagemcnt team identified the rit of management override of controls and income recognition a8 the areas where the financial Statements were most susceptible to material mi8ststement due to fraud. Audii pn)ce(lur¢s perfornied included but were not limid to te8ting manual journal entries and other adj￿$￿￿ents, evaluating the bu8iness rnti(male in relation to $ignifi¢an¢ unusual transactions and transactions ente￿d itrto Outside the nornial course of busine￿, challenging judgments and estimates perfomiing substsntive test of detsi]s over a sample of donations and legacies. A fvnher description of our responsibilities for the audii of the financial sts*ments is provided on the Finath¢ial Reporting C<Juncil's website at. This de￿riptiOn fornis part of our auditor's report. 23 Register￿] Company Number. 05142007 R¢gistered Clwity Number. 1104425

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRISTOL GRAMMAR SCHOOL A COMPANY LIMITED BY GUARANfEE U* of report Thi$ rLI)Ort is made solely io the charitable compBny's m¢Jnb¢rs. as a body, in accoTdan¢e with Ch4pt¢r 3 of Part 16 of the Companies Act 2(K16. Our audit Work hgs been und¢rtak¢n so that we might to the charitable company'8 members those matter8 we are Tequired 10 State to them in an auditor's report and for no other purpose. To the fullesi extentperniitted by law, we th) notawl Or￿Sum¢respOnsIbl]itY to anyone otherthan the charitable company and the charitable eompany's members as a body, for audi¢ work, for this repoTL or for th¢ opinions we have fonned. KERRY GALLAGHER (Senior Ststutory Audilorl For and on behalf of RSM UK AUDIT LLP, Statutory Auditor Chart¢red Aceountanlb. Second Floor l The Square Temple Quay Briytol BSI 6DG Date 20 December 2022 24 Reg]￿er￿ Company Number. 05142007 RegiSte￿d Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 August 2022 Unrestricted Restricted Endowment Fullds Fujds FuDd8 Notes 2022 2021 INCOME Donations and legacies 162,138 864.145 1,026.283 440.607 Charitable activities Schwl fees Other educational income 17,492,676 101,221 (450.726) 17,041,950 16,310,143 101,221 65.286 17,593,897 {450,726) 17,143,171 16.375,429 Other Trading Activities Ancillary trading income Rentg and letting8 13.726 255,497 13.726 255,497 3.192 94,742 269223 269,223 97.934 Inveslment income 523,251 39,271 562,522 521223 Oth¢r i￿ome 682 682 160J81 TOTAL tNCOME 18,549,191 452,690 19,001,881 17.595,574 EXPENDITURE Cost of generating fun&8 Charitsble activities 10 10 490,259 18,253,495 106,455 596.714 425.183 56,962 18,313.574 17,187,983 3.117 TOTAL EXPENDITURE 10 18,743,754 3,117 163,417 18,910.288 17.613.166 NET (EXPENDtTURE)llNCOME BEFORE INVESTMENf GAINS (194,563) 449,573 (163.41n 91.593 (17592) Net {lossesygain8 OD iDve8tsnents (56,298) (67.663) (528.509} (652,470) 2,121,349 NET INCOME Gains i)n investment propertie¥ (250.861) 34.454 381.910 (691,926) (560,877) 2,103,757 651,860 686,314 4(￿1,467 NET MOVEMENT IN FUNDS (216.407) 381.910 (40.066) 125.437 2,504J24 Fund batanccs brought fonyard Is,899.￿8 1.899.618 19.587,966 37J86,682 34.882.458 FUND BAtANCES CARRIED FORWARD 21 15.682,691 2,281,528 19,547.900 37,512,119 37,386,682 The notes on pages 28 to 47 form p8rt of these flnancial statements. All of the Group's operations are classed as continuing. 25 RegiSte￿d Company Number. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) CONSOLIDATED AND SCHOOL BALANCE SHEETS as at 31 August 2022 School Notaq 2022 2021 2022 2021 FIXED ASSETS Tangible &8sets Investments 17.613,080 18,469.437 17.613,080 18,469.215 21,294J86 21 J23.651 21.294.386 21 J23,651 12 38.907,466 39.793,088 38.907.466 39.792.866 CURRENT ASSETS Stock Debtors C&%h at batjk 2.132 618 624,337 452,536 671,904 464,836 6.161.260 5,144,312 6.070.354 5,075,928 13 6,787.735 5.597.466 6,742,258 5,540.764 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 14 (4,805.550) (4,204,713) {4,821.075) (4,148,791) NEf CURRENT ASSEts 1,922,185 1,392.753 1,921,183 1,391.973 TOTAL ASSETS LESS CURREN[ LIABILITIES 40,829.651 41.185.841 40,828,649 41.184,839 LONG TERM LIABILITIES Creditors payable Afterone year 15 (3.317.532) (3.799.159) (3,317532) (3,799,159) NEf ASSETS 37.512.119 37.386,682 37511,117 37,385.680 CAPITAL FUNDS Endowments l8 19.547.900 19,587,966 19.547,900 19,587,966 INCOME FUNDS R￿trI¢￿ funds 19 ? 281,528 1.899.618 2281.528 1,899,618 UnT&%¢r1r￿ fundb 20 15,682,691 15.899.098 15,681,689 15.898,096 TOTAL FUNDS 22 37.512,119 37.386.682 37.511.117 37,385.680 The net {&xpend1tu￿Y1ncoMe foT the School for the year was £1560,877) (2021: £2,103.7571 The notes on pages 28 to 47 forni part of these fjnancial statements. Approveil by the Directots. and authorived for i&8ue on 9 December 2022 and xigned on their beh81f by: Rom&sh Vaitilingam Director Regi&¢ered Company Number. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 August 2022 2022 2021 CASH INFLOW FROM OPERATING ACTtVlTIES 23 1,241,820 605.990 CASH FLOWS FROM tNVESTMENT ACTIVITIES Investment income Payments to acquire inyestsnents Receipts from sales of investments Payment to acquire tangible fLxed assets 562,522 521223 (217.319) (203.653) 173.971 167,997 (271,101) (115,997) NET CASH ARISING FROM INVESTING ACTivrriES 248,073 369,570 FNANCtNG ACTIVITIES Paym¢nts to repay bank loan Inres¢ paid {407,735) {3fv1,017) {65,204) (76,395) NET CASH USED ￿ FJNANCTr4G ACTIVITIES (472939) (440,412) INCREASE IN CASH 1,016.954 535.148 CASH AT BEGINN￿G OF YEAR 5.144.312 4.609.164 CASH AT END OF YEAR 6.161266 5.144,312 ANALYSIS OF NET DEBT Asat Sept21 Other non- Cash-flows c08h chatt8 Asal 31 Aug22 Cash at bank 5,144,312 1,016.954 6,161266 5.144.312 1.016,954 6.161266 Bank Loan fallig thie within Ime year Bank Loan fallin¥ due after morc than one year (407.751) (2.100.875) (11,648) 419,383 {419,399) (1,681,492) (2.508,626) 407.735 (2,ICKJ,891) Total net cash 2,635.686 1.424.689 4,060,375 27 Registered Company Number. 05142007 R¢gisiered Charlty Numbw.. 1104425

Bristol Grammar School (A company lirnited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (¢ontiniied) for the year endd 31 August 2022 GENERAL INFORMATION Details of the Sohwl's incorP￿tion and place of busine98 aTe given in ihe Director's Report. The group eojksists of Bristol GTamnw S¢hcKJl (including'linked clJariti&8") and BGS Enterprises Limi BASIS OF AccouKfiNG financial ststements have ien pr¢p¥red in accordance with Accouniin8 and Reporting by Charities Recommended Practice applicable io chariiies preparing theiT accounL8 in accordance with FRS102 'The Financial Reporting Standard applicable in th¢ UK and Republic of Ir¢land' ('FRS102') and the requirem¢nts of the Companies Act 2006, and under the his¢tsri¢al cost conventiofft, modified to include the revaluation of freelK)Id properties and to include investment properties and certain financial in8truments at fair value. Going Coneern Pupil recrnitmeni in 2021-22 wafi very gijod with a strong intake for th¢ academic year 2022-23 including a record intske for external pupil8 joining the Sixth Fonn. Fee8 collection for the year has also been gooti Emphasis on eifieiencies and co8t 8avings ¢ontiDU¢8, whilst maintsining the priority of deliyering a rust 4las& educatioti and pa8toYal support for all pupils. Budgets For 2022-23 and 202>24 including In¢om¢ and ExpendtWTe Accounts, Bal4n¢e She¢ts and projected Cash Flows have been drawn up prudently taking into Consideration the financial impact of COVID- 19 both on the School attd mony of the families who have be¢n impacted within the BGS conllnunity. The Cash Flows contain a contingency amount a bulyer agaiti￿ any fall in pupil numbers OT unforeseen txpendiwre and the School's Balance Sheet remains stTong. The bank bJl8rtceat 31 August 2022 wa8 above budg¢t with the post Balance Sh¢et¢ashprojections continuing to be outperfomi¢d. The HSBC Bat)k Cov￿￿nts, in rel&tion to the PAC Bank LoaT4 w¢Jr pass¢d at 31 August 2022. The Direetors Are therefore content th&t it 18 appropriate ￿ PToduce the Financial Ststepwhts on a Going CorKern BagAS. REDUCED DISCLOSURES In ac¢ordan¢¢ with FRS 102, the School has takcn advartts¥e of the exemption from ihe following digLlosure requiremenL¥; Section 7 'St4tement of C&sh Floiys,. School only ststErnertt. SectlOD I I 'B&%ic Financial InstNmenL%' and Seclion 12 '0ther Financial Instrumem 18aues'. SectlOD 33 'Relatcd Party Disclosures, _ key management personnel remunerntion. PRINCtPAL AccouNfING POLICIES (a) Fees and 8iml]ar IDcome Fee¥ T¢ceivable and charges for ￿rVi¢¢S and use of pyemises are accountcd for the period in which the service is provided. {b) Advan¢e Fee S¢beme The Sch(M)l operates an Advance Fee S¢heme forparenL8. Each arrangement 18 in reypect of art agreed arnouni ¢0 b¢ ¢T¢dited against future fe¢ bills for an agreed number of terni%. Th¢ unused balance of the advance it4 repayabl¢ upon reque81. Figure% for advAnced fee payment8 are detailed in note 16. 28 Registered Company Numt*r. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 August 2022 PRINCIPAL ACCOUNTtNG POLICIES (corttinued) {¢) A¢¢eptan¢e deposits Accept8nc¢ d￿OSits ar¢ paid ts) the whoDI to secure s place forthe child atth¢ School. Deposits held forni part of the genernl fvnd8 of the School until th¢ child I￿1veS the School at which point they are credital without interwt to the final pa￿nent of the fees or other sums due to the Sch(M)l. D￿051￿ are held 48 ￿edItOrS on the balance Sheet are classified ￿ ¢)wing within on¢ year 41 over on¢ ye4r based on when they are expected to b¢ ￿edit¢d ￿ainSt income. (d} Donatlong and fund Accountkng Income from th)nations and legacies are acwunted foT as and Wh￿ entitlement ￿lS¢s, the amount an be reliably quan¢ified and the ¢coNomic benefit to the Srknol is collsidered probabl¢. Donations receiveil for th¢ general pu￿$¢¥ of the S¢h¢)ol ate included as unrestricted fvnds. Donatiotss restrictrd by the wishes of the donor orthe teTm8 of ats appeal are taken tL) restsicied fjJnds. Donalions wuired to be retained as Capital iu ac¢ordance with the donor's wishe8 are accouoted for ¢adowments- pernwieni or expendable a¢¢ordill8 to the natyr¢ of the restri¢tion. (¢) Gov¢rnment gr4ttts Government grants a￿ re¢ogni$ed at the fair value of the awt received or re¢eivable when there is reasonable assur4n¢e that th¢ rn ¢ollditioD$ will be Jn¢t al￿ the grdnts will be T¢ceived. ifj Expendlture ExpeDditure accountrd for an accruals basis. Overhead and other cosLs not dirKtly &ttribut4bk ¢0 particularfullctiQTJal 4¢tivity ¢at¢gori¢s are apportion￿ ov¢r the r¢levant¢ai¢gories on the b¥sis of Inanage￿¢￿t ¢5tirna¢¢s of the atnount ?ttributabl¢ ¢(Tr that adivity in th¢ y¢ar ¢ith¢r by W¢fere￿¢ to stsff time or space occupie4 as approprlate. The ityexoverable el¢men¢ of VAT is it￿lud￿J with th¢ item of expense to which it relates. Support COSt8 COrnPri8e th¢ costs of ruHnin¥ the charity excluding costs diTECtIy Tclatd to education, including overheads and maitjtenance of buildings. It also includes external audit, legal advice, insurance and all the costs of complying with Consti￿tional and statutory requirements, such as the ¢￿81S of preparing 8th￿tory accounts and satis￿.ng public accountability. (g) TaTrgible fixed ayset5 Fixed a&qets are included in the financial slatements at their OTiginal cost le&q depreciation. New buildings. major improvement8 and extensions are capitsli8¢d at their original cost. Furniture Attd equipment ￿quired fornew buildirtgl major improv¢ments and extensions are capitalised at their oTiginal cost. Assets below £500 are noi ¢apitalis¢d unless forniing part of a larger capital prOj￿L Depreciation is provided on freehold buildingj, cxcept for inve5tsnent propertie4 so as to write off the cost les% estimated re%idual value over the useful life. Depreciatiott periods rang¢ from 5 to XO years . Only the School's Perfomirtg Arts Centre which w8s completed in 2016 is being deP￿181¢d over 80 years. Land 18 not depreciatsd. The useful economic lives of ¢a¢h gsset is regularly reviewed by the Bu￿r and Directhrs and ￿JuSted where appropriate. Costs of repairs and maintenort¢e are charged against revenue in th¢ year in which they are incurred. Asw ullder ¢OAWnwtion are depreciated once they are brought into operational use. Depreciation on other rangtble fixed assets has been calculated so as to write off the cost of these a&gets over their estirnated uthl life &8 follo￿. Fixtures. fitting8 and equipment - 3 to 20 years 29 Regis*red Company Number.. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 August 2022 PRINCIPAL ACCOUNTfNG POLICIES (continued) (kn) tnvestmeDts 8Dd Invethent Income Investtnent properties are initially measured al cost and subsequently Measur￿ al open marfcet value as estiinated by th¢ Governor Fixed A$￿t Inv¢stsnents are ineluded at their mid-maTket value at thebalan¢e sh¢e¢ dal¢. Any surplus ord¢fi¢iton revaluation is taken to the Ststement of Financial Activiti￿ ISOFA). Investment income is ac¢ounted for in the periixl in which the charity is entitled to TKeipt. The School h&$ elected io hold itb. investments in subsidiaries at cos¢ less any irnpairni¢nt losses. Flnance and operating leaw Rentsls applicable to operaling leases are Charged to the SOFA over the period in which the cost is incurred. Assets pur¢h&%d under finance le￿ are capitajised as fixed assels. Obligations under sueh agreements are included in creditopJ. The difference between the capitali8ed cost and the total obligationunder the lease r¢pr¢8ents the flnance char8es. Financechargeq are written-off to the SOFA over the period of th¢ lease so as to produce a constsnt periodic rnle of charge. (i) FInnei￿ Instruments The School has elected to apply the PTovi%ions of Section I I 'B&8ic Financial Instruments, and Section 12 '0ther Financial I￿￿1[￿ments 1&8ues' of FRS 102. in full, to all of its financial instruments. Financial a&qets and financial liabilitie8 are recognised when the Schcol becomes a porty to th¢ contraC￿al provisions of the Instr￿Ment. and are off8et only when the School CUTrently has a legally enforceable right to off th¢ reCogni￿d arnounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneow$ly. Financial assets Debtors receivable within one yw do comtitute a fmancing transAction. They are initially mea8ured at the tranqaction price and bsequ¢ntly measuredat amorti8ed cosL being the transaction price less any arno￿￿ settled and any impairni¢nt lo&w. Finaneial liabilitie Creditors, trade and other. payable within Ojhe year, that do not constiwte a f￿ancing tranbaction are initially meagured at the tran8aciion price tynd sulk%equently Meas￿ at anhorti%£d cost, being It￿$a¢tiOtt price any amounts ¥ettled. (k) Penslon fj¢hem Retirementbenefits to employeeBof the Scknol areprovid¢d by the Tea¢h¢r8' Peosion Scheme ITPS'} and The P¢4wle's Pension. The TPS is a defLn¢d benefit scheme, and the a&$ets ar¢ held ¥ep4rately from tho¢ of th¢ S¢hool. The TPS is an wifunded scheme and contribution¥ aTe calculated so 45 io spread th¢ ¢ost of pensions over employees, working lives with the School in way that the pension ¢os¢ is a subslantially level percentage of eujyent and ￿tUre pen%ionabl¢ payroll. The ¢ontribulion8 are deierniined by the GovernmMt AcbJary on the basis of quinquennial valualions u$ing a progpe¢tiv¢ benefit method. As stated in note 45, the TPS is a multi-employer %cheme and the School is unabl¢ to identify iLS thare of the underlying Ènd liabilities of the scheme on a consiqteni and rea￿u￿ble basis. The TPS is therefore treated a der￿ed ¢ontnbution scheme and the contributions recognised as ¢h¢>' 4r¢ paid each year. 30 Registered Compatty Number. 05142￿7 Registered Charity Number. 1104425

Bristol GTh2mmar School (A company limited by guarantee) li NufES TO THE FtNANCIAL STATEMENTS (conlinued) for the year end¢d 31 August 2022 PRINCIPAL ACCOUNrtNG POLICIES (continued) Ik) Pensloll Sehemes (condnDed) The School provid&q retirement beA]efiLS for support staff wlth The People's Pension. It is & defined contribution M&ster Trust multi-employcr Scheme. For the defined contrilyjtion schemes the amountcharged to the SOFA in resp¢¢t of pension ¢o$ts and other p)st-r￿lreMent benefits is the con￿butiOnS payable tn the year. Differences b¢tsveen contributio￿$ payable in the year attd contr11￿tiOnS actually paid are shown as either other ercditors or prq)ayments in the balance sheet. o) Ba818 of Co￿￿lIdatIOn These fjnanciol ststements consolidatr the tEsulis of the School and its subsidiary BGS Entejprises Limited on a lino by Itne basis using aequisition accounting. The School has taken exemption fron) presenling IL8 unconsolidated profit and aL¢OUnt under section 408 of Companies Aci 2006. Th¢ School's own income for the year was £18.857.628 {2021: £17J31,793) ond ne¢ d¢fi¢it for th¢ ye•r was £560,877 {20210'. £2,103,757 surplus). These fuhancial statements also in¢lude the assets, liabilities alld results of the Bristol Grammar School a regist￿Ed charity which holds pernanently endowed a&sets on behalf of the Sch(KTrL Under a Clwiiy Commi&8ion Scheme da￿d 31 Au8USL 2￿4, the co￿panY is alw the TnLYt¢e of another sepatate charity called Brisiol Gtammar School Scholarship, Bll￿ alhd Prize Fund whi¢h holds pern)anently endowed funds received for schol8rship4 butswi¢s and prizes. On 12 August 2(x)5, the Charity Commission made a Uniting Direction under Stttion S.96(5) of the Charities Aci 1993, d1￿Cting that these charities ('he linked charitics"} Should be treatrd &5 for￿1￿8 part of the Lharity called Bristol Grammar School for the of Part Il (rEbFiStration) and Part Vl {acGountin¥) of the Charities Act 1993. The main effEct of thE Uniting DiTfftion is thatthc link¢d charities are aggregated into the Statement of Financial Activities and the Balance Sheet of th¢ Company. They ruDain, however, legally di8tinci charitie4 the ￿ndS of which atr to be applied solely in accordance with their respective trnsts. BGS Enterprises Limited hires the facilities of the SporLS Hall, 3G Pitch, Gtrfftt Hall aTrJ Perforniin8 Art$ Centre for community uqe at￿ other room letting$. BGS Enterprise8 Limid is controlled by the School as it is th¢ 501e sharehold¢T. The results of BGS Entetyri8¢8 Limited (company number 2630377) were as follows.'- 2022 2021 Turnover Expenditure 255.576 (218.391) 94,748 (91,985) Profi¢ for the year 37.185 2.763 2022 2021 Fixed Assets Stock, debtors and cash atbank CredAtOTS 222 91,600 (90,820) 123,654 (122,652) Net assets 1.002 1,002 31 Regisler¢d Company Number.. 05142007 Registeml Charity Number.. 1104425

Bristol Grammar School (A company lirnited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (coniinued) for the year ended 31 August 2022 PRINCIPAL ACCOUNTING POLICIES {¢ontinued) (m) Crlt1¢41 A¢¢ounilng Estlmatu Judgement8 The Group mak¢5 estimates and assumptions based on historical experience and what is Nsonable under the circurr￿talI￿ regarding the expe¢￿tiOn of future evenLs. Actual results may differ from these &slimat¢s. The e51imates and underlying assumpti¢)n& are reviewed on att ongoing basis. Examples of ￿￿O￿lI1n8 estsmat&s include assessing the useful ecoDomic lives of land and buildings and other assets ¢aking Artto coMiderdtion all matters which may affect this and the provision for doubtful debts. The Sbhool's investment pTh￿rty was valued by a fjrni of independent charteTed wyeyors at 31 August 2022. DONATIONS AND LEGACIES UnTestricted Funds Restricted Endowment Funds FUTh 2022 Total 2021 To￿1 Dol￿tiOnS Legacies 20272 141.866 864,145 884,417 141,866 430,597 10,010 162,138 864.145 1,026.283 440,607 SCHOOL FEES RECEIVABLE 2022 2021 Feeg receivable COV11>19 diKount 19.026.393 18,70?,877 (523,439) 19,026,393 18,179,438 Scholar¥hi Sehool a&sisred places- buffory funding stsff fee diwunts Sibling discoun (405,511) (1,023,548) 1338,438) (216,946) 1363,712) (973,789) (314,528) (217266) (1,984,443) (1.869,295) 17.041.950 16J10.143 ScholaT5hip% 4r¢ awarded on merlt and assi%ted plac&8 are a8sexsed by reference to parents ittome among8t other criteTi 32 R¢gi8t¢rd Company Number. 05142007 Registered Charity Number: 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year enda 31 August 2022 OTHER EDUCATIONAL INCOME 2022 2021 Sundry income Calering income 54.444 46.777 35.549 29.737 101.221 65.286 INVESImE￿r tNCOME Unr¢stri¢ted Funds Re8trict¢d Funds 2022 Total 2021 Totsl Endowment rentsl income Endowrnent investment Income Other Funds Investment Income Endowment inierest 312.375 177,651 33,011 304 312.375 199,402 50,441 304 312,339 185,006 23.093 785 21,841 17.430 523251 39.271 562.522 521,223 OTHER INCOME 2022 2021 Government grant income- COVID-19 fi￿lough scheme 682 160,381 33 Registered Company Number.. 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FNANCIAL STATEMENTS (continiied) for th¢ y¢ar ¢nd¢d 31 August 2022 io ANALYSIS OF EXPENDITURE Staff Costs. Depr￿jaIl0n Total 2022 Total 2Q21 Other Costs of generatlnR thnd8 Fundraising c06ts Fundraisiog- trading Finance costs Invesunent managen)eni 154,230 102,251 76,304 42.004 115.470 106.455 230,534 144,255 115,470 106.455 137,285 63,784 126,240 97,874 256,481 340233 596,714 425,183 Charltable ctlviik8 Teaching Welfare Premises Support costs of g¢hwlill8 10.763,647 550,895 530.657 1,239,571 .001.997 330,737 2,083.809 703,265 11,765,644 881,632 3,723,462 1,942,836 11,091,508 751.780 3,505,404 1,839,291 1.108.996 13,084,770 1,108.996 4.119.808 18,313.574 17,187,983 Total exptndltsre 13,341,251 1,108,996 4.400,041 18.910288 17,613,166 Support costs of schooling comprise: 2022 2021 Governance costs ICT c08L Marketing and admissio￿$ Admin. finance and PAC salaries Staff recruitment Stationery, [￿Stage and lephone Other 92,016 352.997 343.54l 973,500 49,541 32,797 98.894 193,602 332,624 254,299 32,071 33,850 21,6 1,942,836 1,839291 34 Registered Company Numttr: 05142007 Registcred Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (¢onlinued) for the year ended 31 August 2022 10 ANALYSIS OF EXPENDITURE (¢ontinu¢d) 2022 2021 Staff cosls comprise.. Wages and 5alari¢s Social security costs PeL8iOn Costs 10,390.669 1,077,340 .873.242 9,966.748 992,593 1.822.622 13.341,251 12,781.963 Included abov¢ aTe st&ff wsL4 r¢l4ting ¢0 the sub5Ediary of £102,251 (2021 £49.076) 2022 2021 Aggregate employee-t¢nefits of key management personnel {the number of KMP was increased from seven to ten staff memttrs folloThing 1,196,486 a reorganisation during the year) 930,071 2022 2021 Stsff with ¢rnolutnents in th¢ Tynge: £60,001 to £70.000 £70,001 to £80.000 £80,001 to £90.000 £140,001 to £150,0(M) £150,001 to £160,0 £170,￿1 to £180,000 Th¢ 4v¢rage numberof 8taff ¢mployed during th¢ y¢ar'. Teaching Premises SuprK)rt Welfare 198 16 51 35 201 47 34 300 31X) Jn¢luded in th¢ Dumber of support staff 18 one ¢mploye¢ of the subsidiary. Th¢ Governors did no¢ r¢¢¢ive any r¢tnunerntion frgtll th¢ S¢hwl during the period (2021: nil). One Govmors ¢laimed £260 of trav¢1 ¢XF¢nses during tb¢ y¢ar (2021.. nil). Adminislralion cosls in¢lude'. 2022 2021 Auditor'5 remulleration for the audit of the fmallcial slatements for the audfftl of the subsidiary financial statements for tax c4)mpliance and advisory 23.160 5.7711 5,790 21,060 5.250 7,380 o￿ating lease c05Ls: other 231.500 185.756 Financing w8t8 compTi5e: Bank inter¢st and otheT char8C5 Fee deposit discount 70,606 44,864 80.420 45,821 115.470 126241 35 Registered Company Number. 05142(X)7 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarante¢) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 August 2022 TANGIBLE FIXED ASSETS GROUP A86ets in the Fr¢ehold Course of Land atyj Construction Buildings Fixtur&s Fittin8S Equipment Total COST At I Septenthr 2021 Additions Disposals 29.514.954 42(K) 1,903J14 174.051 2,484,389 33,962.657 74,388 252.639 (35J19) {35.319) At 31 August 2022 29,519,154 2,137J65 2.523,458 34,179,977 DEPRECIATION At I Seplember 2021 Charge for the year Disposals 12,701,446 758,084 lJ92.863 166.917 1.398,911 15.493,220 183,995 ,108,996 135.319) (35.319) At 31 August 2022 13.459530 1.559,780 1,547,587 16.566,897 NET BOOK VALUE At 31 August 2022 16,059.624 577,585 975,871 17,613.080 A¢ I September 2021 16,813,508 570,451 1,085,478 18.469,437 SCHOOL ONLY Asset¥ in the CouTre of Constructson Freehold L4nd atsj Buildtngs Fixtures and Fittings Equipment Totsl COST At I S¢pt¢rnber 2021 Additions Disposals 9.514.954 4.200 1.962 104 174.051 2.484.389 33,961,547 74,388 ?5?,639 (35,319) 135.3191 At 31 August 202? 29,519,154 2,136.255 2.5?3,458 34,178,867 DEPRECIATION At I September ?021 Charge for th¢ year Disposals 11,701,446 758,084 lJ91.975 166,695 .398.911 15.492.332 183.995 1.108,774 {35.3191 (35,319) At 31 AUg￿$t 2022 13,459,530 .558,670 1.547.587 16,565,787 NET BOOK VALUE At 31 Auk*ust 2022 16,059,624 577.585 975.871 17,613.080 A¢ i Sept¢rnber 7021 16,813,508 570,229 1,0115.4711 18,469,715 36 R¢8istered Company NumEtr'. 0514?007 Registered ChaTity Number. 1104425

Bristol Grammar School (A company limiteAI by guarante¢) NOTES TO THE FINANCIAL STATEMENTS (conlinued) for the year ended 31 August 2022 12 FIXED ASSEf INVESThIENf3 Investment Properties Investments Totsl GROUP AND SCH(X)L Marke¢ v4lu¢ ￿ I Septell)b¢r 2021 Additions (including r¢invest¢d inve6tm¢nt inwme) Dw¥al$ Management fee 5,153.686 16,169,965 217J17 (173,971) (106.455) 21,323,651 217.317 (173.971) (106.455) Movement on revalu4ti0n 686J14 {652,470) 33,844 MaTk¢t vaiu¢ at31 Augu¥t 2022 5.840,0(X) 15,454.386 21294,386 Hisioriral ¢(KS¢ 2,741,707 6,372,674 9,114,381 Th¢ inveslment Properties were valued on open market basis in September 2022 by Carter Jotw LLP, Ch4rter¢d Surveyo IDve$tsn¢n¢s ¢ompris¢: 2022 2021 Equities and urtit trusts The Charities Propety P(x)led Fund C&sh held for reinvestsnent 14,129.888 960,083 364.415 14,873,469 816,583 479,913 15.454,386 16,169,965 Investhients include a loo•/￿ holding in BGS Entwprises Ltd. stt page 31. 13 DEBTORS Group School 2022 2021 2022 2021 Due within on¢ yw.. 79.292 453.285 68.618 268.739 79.292 422.675 78.177 68,618 246,141 34,898 Other debtors Amounts owed by group undertakings 532.577 337,357 580.144 349,657 Due afterone year.. Fee deposit discount Other deblors 82.574 9,186 101,793 13,386 82,574 9,186 101,793 13,386 91.7fA) 115,179 91,760 115,179 Totsl debtors 624.337 452.536 671.904 464.836 37 Registered Ci)mpany Number.. 051421X)7 Registered Clwity NUME￿. 1104425

Bristol Grammar School (A cornpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 August 2022 14 CREDITORS Group School 2022 2021 2022 2021 Amounts falling due within one year.. Tax and social security Pension Trade creditors Sundry creditOT5 and accruals Fets in advance D¢￿Sits Bat]k lo 281.696 228,541 487.131 565,583 2.817,732 65.468 419J99 274,278 224,183 233,832 503,072 2,516,597 45,0 407,751 276,873 228.541 487,131 525.931 2,817.732 65.468 419.399 264,903 224,183 233,832 456,525 2,516,597 45,000 407.751 4.865,550 4,204.713 4,821.075 4.l48,791 15 CREDITORS Group School 2022 9021 2022 2021 Amounts falling due after one year. Fee3 in adV￿￿e DeposAts' Bank loan 1 •79,858 356,182 1.681,492 1.391,376 306,908 2,100,875 1.279,858 356,182 1.681,492 1.391,376 306,908 2.100,875 3.317,532 3,799,159 3,317.532 3.799,159 Loan repayments are due: Within I ￿ 2 years Within 3 to 5 yeaTS Over 5 years 431.256 ,250,236 419J99 1,330,755 350,721 431,256 1,250,236 419.399 .330,755 350,721 The interest ra chaTged on the Bank Loan i¥ fixed at2.82Yo. Th¢ remaining balance is repayable over 4 years and 9 month HSBC Bank plc hold a Fir¥t Legal Mort8a¥e over th¢ following freeho]d properties &8 sKurity for their lo¥n lo ihe School.. Numbers 1. 3, 4, 5. 7, 8 a[￿ 9 Elton Road. Clifton, Bristol, 8 Elmdale Road, Clifton, Bristol and Units 7-10 Eakle&4 Busine&8 Park, Bradl¢y Stok¢. Bristol. 16 ADVANCE FEE PAYMENTS Advance fee payments included within credi¢oTs (￿mprISe amounts. due: 2022 20?1 Within 2 to 5 ye&rq Within l 10 2 yea 797.191 482,667 818,404 572.972 1279,858 1.007,521 1,391,376 1,036.777 With]'n l y¢or 2.287,379 2,428.153 38 Regi$teTed Company Number. 05142007 Registered Charity Number". 1104425

Bristol Grammar School (A company limited by guardntee) NOTES TO THE FINANCIAL STATEMETrrfs (continued) for the year ended 31 August 2022 16 ADVANCE FEE PAYMENTS (CODtinud) The b4lanc¢ repr¢s¢rtts the liability und¢r the eontrActs. The movements during the year were: 2022 2021 BalJft¢¢ as ai I S¢pt#mber 2020 New contra¢ts Amounts accrued to contracts 2,428.153 ,094.739 16J21 2.496.885 1.337,515 30,827 3,539213 3,865,227 (1.251.834) (1,437.074) Amounts utiliwl in payment of fe Balance at 31 August 2022 2,287.379 2,428,153 17 FINANCIAL INSTRUMENTS 2022 2021 Financial a￿ets.. Insttuments measured ot fair value through net income 15,454,386 16,169,965 18 ENDOWMENrs P¢Tman¢ni Endowment Fund 2021 GROUP AND SCHOOL 2022 B4lan¢e at I Septanber 2021 19.587,966 17.540,583 Movement in ful Expendith Untralised gaiLs (163,417) 123.351 {223,403) 2270.786 Balance at 31 August 2022 19,547.gK) 19,587,966 The School's Pernianent Endowed funds are held in a balanced portfolio of invesknents with the objective to enhance the tral value of the capithl invested whi18t also producing an appropriaie level of income to maintsin the School's commitsnent to provide a&8iStance with fees for those pupils who would not othenvise be able attend BGS. 39 Registeml Company Number. 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continiied) for the year ended 31 Au ust 2022 19 RESTiucfED FUNDS GROUP AND SCHOOL Th¢ fvttds brougbt forward comprise th¢ unexpended balances of donations and grants held on tTu$ts io be applied for specific pu4)ose8. Balance asat ISep21 Fees Don￿lOn Expendittwe Investment Income and Gains B8lAnce 31 Aug22 Bursari Mr Winzer Bursary Buildings Capitsl Campaign John James Foundation Pople Charitabl¢ Trust David Higson David Godwin Other Futtds ,157,310 427,896 5.958 17.454 (326,555) (26,858) 524.723 2,246 {41,503) 1,357,724 359,535 6,753 20.649 795 3.195 31,500 53.820 (30.(M)O) (67.313) (1,500) 10,598 Jo.0 2,895 (83) 29,917 250,0(M) 256.950 250,000 112 250.402 (1,534) 7,970 1,899,618 (450.72fy) 864,145 13,117) {28J921 2,281.528 Balance 88&t ISep20 Donation Expendintro Investment Incom¢ Income and Gains B￿ance asat 31 Aug21 A&sistance 953.41M 375.043 5.028 13.855 {216,078) (26.090) 328.960 91,024 78,943 1,157.310 427,896 5.958 17,454 Mr Winzer Bwsary Buildings Capitsl Campaign John James FoUnd￿lOn Pople Charithble TnLsL David Higson Other Fund8 930 3,599 31,500 45,0(M) (30.000) (_54,4671 (1.51K)) 17.494 30.OIM) 203,325 2,S71 10,598 30,000 250,402 1,806 (7391 46,010 .598,149 1326,6351 411,795 .239) 218,548 1,899.618 Bursari￿ ￿sents funds re¢eived from fimdrnising r&8tricted ioproi'iding bursarie8 and in¢lud¢s' th¢ Michael Booker Memorial Burthry S¢h¢m¢ and a new 500 CAmpaigD as we approach the Jooth at)niversary of our Royal Charter in 2032. MT Winzer. an Old Bristoliary gifted a share of his estate to be used forpupil fees ax¥i8tan¢e. Mr Bill G(KJwin gifted £250,000 in memory of his late father, Herbert jarne￿ Godwin, an Old Bristollan, to support IOOYO bwsaTies and to promoie a lifelon¥ love for mathq and learning. The John Jam&8 Foundalion repr¢s¢nLs xpecifie funds received for bur¥aries and aw8rd¥ to pupilg and £1,500 toward%prize¥. The Pople Charitabl¢ Trui+lprovides a donation specifically forbursary support forthree pupils for ￿e year. 40 Regis¢ered Company Number. 05142(M)7 Registered C.haTity Number.. 1104425

Bristol Grammar School (A company lirnited by guardntee) NOTES TO THE FfNANCIAL STATEMENTS (conlinued) for the year ended 31 August 2022 19 RESTiucfED FUNDS (continued) The Daiyd Higson bequest of £30,￿0 is be used to support Drama within the school. Regular donatiOL8 are received towards Buildin85 and Capitsl Campai8n Funds to be s￿11 on the sch￿1. ture c4)itsl projects. Othcr Fund5 fEpre56nt variou5 8cbolHrship and prize fund& 20 GROUP Balance Income Expenditure Investment Trnnsf¢r Losses BalwK¢ asat 31 Aug22 ISep21 Deslgnated Fund8 Br¢sland Bequest Head￿asterS Fund Tucker BuT5ary Fund 232.493 46.440 7,549 19.626 (15.477) 240.042 63,483 101,887 (2.583) 117.364 278,933 11,698 (2.583) 117,364 405.412 G¢n¢Tal Fund (1.645,890) 18J37,493 (17.941,782) (21.844) (117J64) (1,189,387) Tangible Fixed Assets Fund 17.266,055 (799J89) 16,466,666 15.899,098 18.549.191 (18,743.7541 (21,844) 15,682,691 SCHOOL Balance asat IS¢p21 Incomc Expenditu￿ Investm￿t Transfers Balance asat 31 Aug22 De￿gnthted Funds Bresland Bequest Headm8Sters Fund Tucker Bursary Fund 232,493 46,440 7.549 19,626 (15.477) 240,042 f>3,483 101,887 (2.583) 117.364 278,933 11.698 (2.583) 117,364 405.412 General Fund (1,646,670) 18.393.239 {17.797,750) (21.844) (117J64) (1.190J89) Tangible Fixed kneL8 Fund 17.265,833 {799.167) 16.466.666 15,898.096 18.404.937 (18,5995(M)) {21,844) 15.681.689 Unrestricted fimds include £405.412 of designated funds. £240,042 of which is invesied and the intErest us¢d to fund Bursaries. £63,483 is the Headmast¢r's Fund whi¢h is us¢d ¢0 SUPPCrt pupils a¢ ¢h¢ discr¢Lion of th¢ Headmaster. Mr Peter Tucker gified the KhLK)l a shaTe of his estaie and an interim distTibution of £117.364 was rrfeived during th¢ year. No ¢orylitions were placed ¢)n the us¢ of this lega¢y but the GovenTh)rs have agreed that it should be u¥¢d to fvndpupil feey assistance and this amount has been transferred to a designated fund forpupil bursaries. £15,477 was spent during the year and the total amount held at 31 Aug 2022 was £101,887. The Tangible Fixed A&sets Fund reprw¢nt5 th¢ b(wk volu¢ of all tsngible r￿ed assets and is the value of wlwt has Len srKnt to acquire fixvj and th¢ depr¢ci4tiQD of those assets Iw any diswsals. 41 Registered Company Number.. 05142￿)7 Registered Charity NumEtr.' 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year end￿1 31 August 2022 20 UNRESTRIcfED FUNDS (continued) GROUP Ba]awx g4s at ISep20 In¢ome Rxpendith Inve¥tment Gains Balance a5al 31 Aug21 Deslgnated Fund8 Bresland Beques¢ Headm&8ler8 Fund 225,789 31,597 6.704 18,129 232,493 46,440 (3,286) 257,386 24,833 (3286) 278,933 General Fund Tangible Fixed Assets Fund (2.714.237) 17.499.993 (16.449,716) 182IK),577 {934,522) 68,070 (1.645,890) 17.266,055 15.743,726 17,474,826 {17.387,524) 68,070 15,899,098 SCHOOL Balance &sat I Sep20 Income Erypenditure Inve5tsnellt Gains Balance &sat 31 Aug21 Designated Funds Bresland Bequest Hea(hna5teTS Fund 225,789 31,597 6,704 18,129 232,493 46,440 (3.286) 257J86 24,833 (3,286) 278,933 Gelleral Fund Tangible Fixed Asset$ Fund j2,714,795} 17 J86,211 (16.376,156) 18,21K),133 (934,300) 68,070 (1,646,670) 17.265,833 15,742,724 17,411,044 (17,323,742> 68.070 15,898.096 42 Registered Company Number. 05142007 Regist¢r¢d Charity Number: 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FtNANCIAL STATEMENTS (continu&l) for the year ended 31 August 2022 21 ANALYSJS OF PRJOR YEAR STATEMENT OF FINANCIAL ACTIVITJFS BY FUND Unr¢strieted R¢stri¢ted Endowment Funds Fwid8 Fund Note5 2021 INCOME Dooations and legacies 28,812 411,795 440,607 Charitable aclivities School fees Other educational income 16.636.778 65.286 (326,635) 16.310,143 65,286 16,702.064 {326,635) 16.375,429 OtherTrading Actsvities Ancillory trading income Rents and lettings 3,192 94.742 3,192 94.742 97.934 97.934 Inv￿t￿ellt inwme 485.635 35,588 521223 Other income 160J81 160,381 TOTAL INCOME 17.474.826 120.748 17,595,574 Cost of generaiing funds Charitable activities 10 10 327,309 17.060215 97,1174 425,183 125.529 17,187,983 2239 10 17,387524 2239 223,403 17.613,166 NET INCOMEI(EXPENDITURE) BEFORE INVESTMENf GAINS 87,302 118509 (223.403) {17.592) Net gain on investments 75,487 182,960 1,862,902 2,121,349 NET INCOME (LossesyGain on investsnent Properties 162.789 (7,417) 301.469 1,639.499 2,103.757 407,884 400,467 NET MOVEMENT IN FUNDS 155J72 301.469 2.047 J83 2,504,224 Fund balaw brought fonvard 15.743.726 1,598.149 17,540,583 34,882,458 FUND BALANCES CARRIED FORWARD 15.899.098 1.899.618 19,587,966 37,386,682 43 R¢gist¢red Company Number.. 05142007 Re8istrred Charity NUrn￿r. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (eontlnued) for the ear ended 31 August 2022 ANALYSIS OF AssEfs BETWEEN FUNDS Unrestri¢ted Restricted E￿loW￿¢￿t Funds Funds Tot41 Fund balatt￿ ot 31 August 2022 are represented by.. GROUP Tangibl¢ fixed assets Fix¢d asset investsnents Current &ssets Current liabilities Non-wrr¢nt liabilities 16.466.660 1,565.183 5,833.930 (4,865.550) (3,317.532} 1,146,420 18396,880 4,600 17,613.080 21.294.386 6,787.735 (4,865,550) (3J17,5321 1,332,323 949205 Tothl net i&q¢ts 15.682,691 2,281528 19,547.9)0 37J12.119 SCH(M)L Tangible r￿ed a Fixed asset investsnent6' Current 28sets Current liabilitie8 Non-curr¢nt liabilities 16.466,060 1,565,183 5,788,433 (4,821,075) (3.317.532} 1,146,420 18,396,880 4,600 17,613.080 21294,386 6.742,258 (4.821.075) (3J17.532) ,332,323 949205 Total asgets 15.681.689 2281,528 19,547,900 37,511.117 Unrestri¢t¢d Funds Restricted Endowment Funds Total Funds Fund b4lao¢es at 31 August 2021 are Tepres¢ntd by. GROUP Tangible fixed ayg¢ts Fix¢d Lgset inv&stments Current a￿L Current liabilities Non-curr¢nt babiliiies 17,266,055 1,361,113 5,075,802 (4.204.713) (3.799,159) 1,203,382 18.379,984 4.600 18,469,437 21,323.651 5J97,466 {4,204,7131 {3.799,1591 1,382,554 517,064 Totsl neA awls 15,899,098 1,899,618 19,587,966 37?86,682 SCHOOL Tangible r￿ed assets Fixed ati$ei investtnenta Current assets. Cuntnt liabilities Noll-¢urr¢nt liabiliti 17,265,833 .561,113 5,019,100 (4.148,791) (3.799.159) ry03,38• 18,469,215 18,379,984 21 J23,651 4,600 5.540,764 (4,148,791) {3,799,159} 1,382,554 517,064 Total net a￿ts 15.898,096 1.899.618 19,587,966 37,385,680 Registered Company Nwnb¢r. 05142(K)7 Registered Charity Number. 1104425

Bristol Grammar School {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year endeAI 31 August 2022 22 ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued) Endowment fvnds include £4,960,(K)0 (2021: £4J08,139) ofendowmentproFtty, includoj within fixed assets inveslmenty held by Bristol Grammar School Trnst a linked charity and £1,241,718 (2021.. £1,351,877) of Scholarship, buryDry and prize fimd5 held by Bristol Grammar School SL.holarship> BursAry and Prize Fun Ilnked charity. Included within funds are cumulative unrealised gains of £12,180.(KK) (2021.. £12.146,0(M)) ￿lsIng on the oluation of fixed &sset illvestmertts. 23 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING AcrIvrrtES 2022 2021 Net deficit before investment Bains 8nd10&8es Depreeiation and auet wri off (increase)Idecrease in debto Inereasel(decrease} in creditLYS ncre•seydeerease in stock Investment management fees Add - inlerest paid l£ss - investment and net interest income 91,593 1,108,996 (171,801) 605,409 (1,514) 106,455 65204 (562522) (17.592) 1,194,512 68,837 1293,000) 187 97.874 76.395 (521,223) Net cash intlow from operatll¥ activities 1,241,820 605,990 24 CAPITAL COMMITMENTS Th¢ SchiKTrI had Do oapitsl WllUDjt￿¢llts at 31 Augu¥t 2022. A5 a plarttiing condition of the new build Perfomiing Arts Centre, Bristol City Council required the School to commission a piece of public art with a budget of £45.000 including VAT. Contr&ctual agreements have IMI made ivith a CuTator and an Artist for this arnount Ic&s £33,980 which already been spent at 31 August 2022. 25 OPERATING LEASES The Group 18 ¢omrnitted to making the followin8 mtnijllurn paY￿ents under non-cancellable 0￿￿tIng Icgse8 as fi>llinvs.'- Plant & M8¢hin¢ry 2022 2021 Lease payments Ilu¢.' Within l year In 2 to 5 years 150,009 159.661 185,895 135,475 26 RELATED PARTY TrANSAcfJoNS Subsidiary ¢ompony DuTin8 the year the Sehool invoiced the subsidiary BGS Enterprises costs of £189,964 (2021.. £77,412)" the inter¢ompany balan¢e at the year end was £78.177 (2021.. £34,898). GiftAid paid by BGS Enterpri8¢8 L to the School wa$ £37,185 (2021.. £2.763). 45 R¢gisred Co￿panY Numkn: 05142007 R¢gis*red Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 August 2022 27 PENSION COMMITMENrs Te4¢hers' Pen￿0￿ Scheme The School participates in the Teachers, Pension S¢h¢me ('th¢ TPS,? for its teaching Staff. The pension charge foT the year includes contnl)utions payable to the TPS of £1,691350 {2021.. £1.fi53,724) and at the year-eThJ £141,710 (2021: £139,048) was 4¢¢ru¢d in respe￿ of contTibution8 to thi& Scheme. The Trs is aD unfimded multi-employer defineAi benefits pension 8cheme governed by the Teachthy, Pension Scheme Regulation8 2010 las amended) and the TeacheTS' Pension Scheme Regul&tions 2014 {as amend¢d). Members contribute on a 'pay as you go" basis with contributions from members and the employ¢r being credited to the Rxchequer. Rdir¢m¢nt and other pension ttnefits are paid by publie hjndg provided by Parliament. The employer ¢ontribution rnt¢ is set by the of S￿e following 8cheme valuation8 undertaken by the Government A¢￿ary'S Departtnent. The most recent actiwial valuation of the TPS was pr¢pared as at 31 March 2016 and the Valuation Repork which was published in March 2019, confinned that the employer conml)ution rate for the TPS would increase from 16.4O/tr to 23.60/. from I September 2019. Employers are albo required to pay a 8¢heme athninistration Iw of 0.0￿/0 giving 8 totsl employer ¢Ontribution rate of 23.68Y.. The 31 Mareh 2016 Valuation Report was prepared in accordamce with the benefits liet out in ihe ¥cheme regulations and und¢r the approach specified in the DirectioJLS. as they applied at 5 March 2019. However, the a&%umptlODS W¢Te ¢on$id¢red and sei by the Departhhent for Education prior to the ruling in the 'McCloudlS4rg¢wLt case,. Thi5 case has requiTed the courts. to considercLses regarding the implementation of the 2015 refornL8 to Publi¢ Service Pensions including the Teachers. P¢nsion¥. On 27 June 2019 the Supreme Court denied the governme￿ ￿MIL8$10n to appeal the Court of AP&￿￿'S judgrnent that trynsitsooal provisions introduced to therefornicd pension schemu in 2015 gave rise to unlaw￿1 age discriminwtion. The government is re8pecting the Court'5 decision and has Said 1¢ will engage fully with the Employment Tribunal a% well as employer and member rqjresentatives to ¥gree how the discriminationb will b¢ remedied. The government announced on 4 February 2021 that 1¢ intends to PTocttd with a defetred choice underpin under which members will be able to clbjthe either Icgacy or ref0￿ed scheme benefits in resyect of their service during the period between l A￿11 2015 and 31 March 2022 at the point they be£om¢ payHble. The TPS is.%ubject to a CO￿ cap mechanism whieh was Put in place ¢0 protect t&¥payers against unfor¢seen h&nges in ￿h¢me costs. The Chief Secretary to the Treasury. having in 2018 announced that there would b¢ a review of thi8 Cost cap mechanism, in January 2019 announced a pause to the cost cap mechanivn folloiving the Coun of Appeal'8 ruling in the McCloudlSar8eant case and until there 1$ Certainty about the value of pen8iorL$ to employees from April 2015 onwards. The pause was lified in July 2020, and a consultation wa5 launched on 24 June on proposed ehanges to the cost control m¢chaniwn following a review by the Govemment Actuary. Following a publie co￿￿711t#110n, the Government have accepted three key proposals rewmmended by the Govemment A¢Nary. artd are aiming io inyl¢meni the8e ch8nge¥ in time for the 2020 valuations. In view of the above rulings and decisions the assumptions u￿j in the 31 Mareh 2016 Actuarial Valuation may become inappropriate. In ¢hi$ 8¢enario, a yaluation prepared in accoTdan¢e with revised ben¢fits and suitably revised a￿UmptionS would yield different re8ults than those contained in the A¢tiJarial Valuation. Until the cosi cap mechani8m r¢vigion 15 completed it is noi po&$ible to conclude on any financial impaet or future changeg to the contribution rate4 of the TPS. Accordingly, no pro%i$ion for any additional pas¢ benefii pension costs 14 Includ￿ in these financial statements. RegL8tered Company Number. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMETrrrs (continued) for the year ended 31 August 2022 27 PENSION COMMITMENTS (continued) Deflned eoD¢Tibutlon Scheme The School contributes to a defined contn￿ti0n 8chem¢ for non-teg¢hing staff, &8 detAikd in Not¢ l(k). Totsl employer contnl)uiions to The People's Penslon for the year amount¢d to £222,811 (2021: £217,710). AL the year-end crntributions outsthnding totalled £18,168 (2021: £18.128). The Penslons Trust Growth H*n- Scottlsb VoluDtary Sector P¢n$lon S¢heme The School is making pension recovery plan paym¢nts w the kottish Volunthry Sector Pen8ioD D¢finwJ Beneftt Scheme via Bristol Charities. Thi5 is in relation to the membership of a fO￿ere￿p1oy¢¢ of th¢ S¢hiM)I who was first employed in the ptriod whtn Bristol Charities managed th¢ administration of the School and prior to the incorporation of Bristol Grammar School on l June 2004. Following g valualion of the Scheme as at 30 September 2020 the recovery peri(xl is scheduled to run until 30 Septemb¢r2024 with payments reducing from April 2022 but then to increase again by 30h per annum from April 2023. Totsl payments made during the year were £1,808 (2021'.£1,973). 47 Rcgi5tered Company NurnlKr'. 05142(K)7 RcgistCTtd Charity Number. 1104425