2023-08-31-accounts

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT AND CONSOLIDATED FtNANCIAL sTATEmE￿s for the year ended 31 August 2023 Regist¢r¢d Company Numb¢r. 05142007 Register￿ Charity Number: 1104425

Bristol Grammar School (A company limited by guarantee) CONTENTS Page(s) Directo￿, Reptsrt." Reference and Administrdlive Inforniation Stn￿th￿e, Governance and ManagemEnl StTrte¥ic Report 6-20 Ststement of DirecloTS' Responsibilities 21 Independent Audilor's Rq 22-25 Financial Stat￿nents.. Consolidated Sta*menl of Finallrial Activities 20 Con501idated and School Balance She¢ts 27 Consolidated Cth Flow Statunent 28 Nol¢s to Finatteial St&tements 29-49 Registcred CompAtty Number.. 05142007 Regi%tered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS. REPORT for the year ended 31 August 2023 The Board of Direetols present thelr anllual re￿rt for the year ended 31 August 2023 under th¢ Companies Act 2(KTr6 and the Ch8ritiey A¢t 2011, together with tbe audited f]nan¢ial $tatem¢n¢8 tor the y¢ar, and confum that they comply with the requirements of the Companies ACL the Compally'8 Memorandum and Articles of Association. the Charities SORP 2019 and FRS102 'The Fitianci41 R¢wtiti8 S¢andord in UK artd the Republic of Ireland,. REFERENCE AND ADMINISTRATIVE INFORMATION The Com Bristol Grammar School {"the CoJnpaDy') is a co￿pa￿Y litDikd by guaralltce, inCo￿OrdI¢d in Engiand on l June 2004, Gompany registration nulnkn 05142007, with the liability of it5 rnernbws lI￿lted to £1 eath by guarantee. It iy rrgistcred as a charity under re&Fistration nurnb¢r 1104425. It is ¢x¢Jllpt from th¢ requirement to include the word"Limited" An its name. Its registered office and principal addr¢8s is at University Road, BTis10l BS8 ISR. Llnked Charitles Undcr the Scherne, thc perm8fLent e￿AOW￿￿ent a&￿ets of the School aTE h¢ld by the Company as the Trustee of a separate charity called Bristol Grammar Sch(N)l Tryst. u￿￿er a furth¢r Charity Commission Scheme dated 31 Augusi 2004, the Company is also the Tntsttt of anotlm separate Charity call¢d Bristol Gramllw ￿h0o1 Scholarship? Bursary and Prize Fund. On 12 Au8USt 2fy)5, the Charity Commission rnade a Uniting Direction under section 96(5) of th¢ Cknities Act 1993, directing that these two charities ("the linked charities.) should be treated as forniiThg part of the charity called Bristol Grnmmar School for the pujyoses of Part II (registration) and Part Vl (a¢¢ounting) of the Charitie5 Act 1993. Tlie main effect of the Uniting Direction is that the lfftnked charities atr aggregattd inkn the Statement of Financial Activities and the Balance Sheet of the Company. They remain, however. le8ally distinct chariiies, the fijnds of which are to be applied solely in accordance with their ￿spective trusts. Registered Company Number. 05142(K)7 Regis¢wed Charlty Number. 1104425

Bristol Grammar School (A company limited by guardntee) DIRECTORS, REPORT (continued) for the year ended 31 August 2023 Directors Truste¢8 an vernors The present Directm of the Company. who aT¢ also the Clwlty Trnsttts and the School Governors, atyj also any ex-Directors who Serv￿ during the year are: Director Committee Membership CovDPted by the B￿rd Mr MaTk Alker-stone BA Hon8 BArch RIBA appointed on 10 November 2022 Mrs Andrea ATlidge BA retired 30 August 2023 Mr Alan Barr LLB retired 30 August 2023 Dr Martin Boulton BEng PhD appoilltrd l August 2023 Mrs Sharon Boccaccini MEd (Open) Bsc (Hons) PGCE Mccr Tesigned on 5 September 2023 Mr 18n Chesham BA Hons MS¢ FCSI Ms Maria Crnyton BA Hons MCIM My Hannah Drake MA Dr Mary GainsboTough MB ChB FRCPCH Mrs Candida Gil Bsc Hon$ ACA retired on 12 December 2022 Mr Peter Huckle BA Med ap￿ill￿d 23 June 2023 Mr Jonathan May BA (Hons) MA FRSA Mr Patrick Meelmn BEd Hons FPFS r¢tired on 12 December 2022 Mr Andrew m￿re Dr Jane O'Gallagher MBChB MRCP FRCPCH FHEA Tetireil 30 August 2023 Mrs Lucinda Paty BMu5 Mmus FRSA appointed on l November 2022 MrNigel Pickthgill Bsc Hons FCA Dr Michael Ransome BA PhD resigned 30 August 2023 Ms Catherine Redshaw BA (Oxon) Hons LLB Mr David W Shelton Msc FCIM (Deputy Chair) Mrs Margaret SiuJmons-Bird BA Hons PGCE MA Mr John Si5man Bsc Hons MRICS Sally Speakt Bcom Hons Dr Dominique Thompson MBChB MRCGP (Dist) Mr Rom¢xli Vaitilingam BA14ons (Oxon) MBE (Ch&ir) Mr Mark R Wilson Bsc Hons MRICS {Chair Eled) AB ABD ACF ACD ACDF Th¢ followin¥ DiT￿lOrS We￿ appointed after the year end.. Mr Shaun Harvey BSC ACMA Sumita Hutchison &ppointcd ort l October 2023 appointed on l Oclober 2023 Th¢ followin8 Committees have been in ¢)p¢rntion during the year. Chairs. Group & Nominations Committee Education Committee Firtance & Genero1 Purpow Committee Marketing* Admission8 & Communications C'.ommittee Pupils & Staff Committee E8tat¢s Committtt Registered Company Nutnber. 05142007 RegiS￿red Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continued) for the year ended 31 August 2023 rEx The Heathtt&si Mr J BaToi MA (Cantob) MSC The H¢ad of Infant and Junior School Miss H Hughes Dsc Hons MA Ed The BuNr Mr JG Mitchell BA FCCA Clwk w th¢ Govemors Mr OLD Cl￿nberS BS Bankers HSBC Bank Pl Caboi Cir¢us Bristol BSI 3BA Investm¢nt Mana8¢rs Evdyn Partrers Investtnent Manag¢ment LLP Portwall Pla0¢ Portwall L4n¢ Biystol BSI 6NA Ruff¢r LLP Inv¢slmeni manag￿nent 80 Victoria Stre¢t LoD(kiD SWIE 5JL ProFwty Management DJ Fol¢y Prop¢rty Ci)n$ultsllts Cavendish Hous¢ 15 Whiteladies Ro4d Bristol BS8 IPB Solicitors VEalc Wa5brough VizArd Narrow Quay Hou NaTTOW Quay Bristol BSI 4QA Auditor RSM UK Alldit LLP Seeond Fl(K)r l The Square, Templ¢ Quay Bristol BSI 6DG Registered Office Univetsity Road Cltfton Bristol BS8 ISR Registered Company Number. 05142(M)7 Regisier¢d Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (conlinued) for the y¢ar ¢nd¢d 31 August 2023 STRUCTURE GOVERNANCE AND MANAGEMENT The S¢hool was estsblished in 1532. Th¢ Charity is regujaied by a Scheme mode by the ChaTity Commission in MAY 1978 and was In￿rpOrated on l Jun¢ 2004. GoverlllD Doeument The Company is governed by its Memorandum and Articks of A￿CiatIon, issued on l Jun¢ 2(KH (amLI)ded by Resolutions on 24 August 2(xM, 26 S¢pt¢mber 2(K)5. 2 December 2W8 and 28 Jun¢ 2020). Gov¢rnlD The Di￿torS, who are al80 required under the Arttclts to serve as members of the Cotnp4ny, have control of the Charity and its properly and fimds including, 3$ Corporate tntstee, the endown)ent wets of the Charity. The Governing Body consists of not l&ss than 16 membejs, one of whom may be Dominat¢d by the SGhool's staff. Governors are apwinted for a terni of five y¢4rs and rnay be re-appointed for a fvrther three-year terni or other period as the Board Considers appropriate. N¢)minations for ttew Governors aTe consid¢r¢d by the Chthits. Group and Nominations Commill¢e, which ensures the Governing Board ha8 the breadth of skills to give etTtttive strategic leadership to the S¢hool, in conjunction with the Headmaster, and ￿ eThwr¢ th¢ Governin8 Board refiects the diversily of our ¢ommunity. The Nomina¢ioDS CO]Dmit￿¢ makes r￿QMMendatiOnS to thc Board for their ratification. Dlrectors and Ke . MAlla ement Personnel The Director5 meel as a Board four times a year. OT more frequently when requir￿, to detsnnine the Btsategy and generdl policy of the rompany aJMI review lis overdll management and ￿ntrOl, for which they are legally re6pon$ible. Th¢ WO￿ o( I￿pItMenting the Board's policies is delegated to the Comrnitt￿ listsd on page 2, which meet at least 0￿¢ FW terni. The day-tO-<iay runnin¥ of tho S¢hool is delegated to Key Management Personnel (KMP) the Headma4ter. the Bur8aT. the H¢ad of the Infant and Junior SchiMTrI, five Deputy Heads, Diredor of M4rketirtg, Admi￿10nS & CommUni￿lI0ns and Director of DevelopmenL The KMP meet regularly during eaeh week eonsidering iK)th strategic and operational matters for the whole School. The remuneration of the KMP 15 set by the Governor& after eonsllltatffion with the Hethasler and, where appropiiaie, the Burbar. The HeadMa￿r and Bursar are not involved in the discussions regarding their own remuneration. Remuneration packages are set at a level to encourllge the recruilment and retention ofquality senior t￿hEr5 and executive￿ in order to lead the school, f&cilitating a happy, supportive, wslainabl¢ and enriching environment in which all pupi15 and $taff Can flourish arKI maximise their ￿tential. BGS also has a wider Senior Leadership Team (SLT) which includes the KMP plus the At￿l$t￿t H¢a& of the School and up to three Co-opted JllembeTh of qtaff (to aid with their professional developmenl as well to Icad on specific project8}. SLT dis¢usxes impcprtant for the School and include8 membm of both teaching and supw)rt %rtaff. There 18 con?rnuntcAtion, with all stsff, on the iten)4 diwutsed by SLT and the deci%ions mad¢. Regisred Company Number.. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (conlinued) for th¢ y¢ar ended 31 August 2023 Trustee Tralnln NewDirectoT% are inducted, through astrUcturedproc￿. into the Workings ofthe School, and a]so ofthecompany os a registered ¢harity. Induction is unde￿Inne￿ by ¢overage of th¢ following important areas.. the main policies, with emphasis upon safeguaTding' speciftc policies linked to committee membetship. and governance 4trJ mw¢ment do¢LlllleDts iDcludin8: 'Th¢ essential truste¢" from th¢ Chatity Con)mission Bristol Gramrnar School In&pKtion Report Crom the Indq)ethi Schoojs In8pector8te' and Sta￿tOry and Management Accounts. The nmin elementof indu¢tion is 4 schwl familiarisation visit of at least Iwlf o day which in¢lude8 nJ¢¢tings with the Heathnastrr, Bursar, Clerk to the Governors and otber senior sts[rt0geth￿ with cl&woom observation. DIrec￿rS are also encoura¥ed to attend regular training seminan or¥auiBed by AGBIS (Awciation of Gov¢ming B(NJie8 in Independent Sehools), other prOfe￿10nd1 firn￿ and organisaiions including RSM UK Audtt LLP, VWV LLP. ISBA Independeol Schoo]s Bunars, Asso¢iation) and the Independen¢ Sch￿1$, Council (ISC). AII ¢onfuyn they hav¢ read the safeguarding and other key p(>li¢i¢s n4tioual guidance wh yw. Directors are directed to a seeure dedicated SlwePoinlsite fortlle Board alld reconjmended the following BGS Board details including.. Current Gov¢rnoT8' Details- Skills and Exp¢ri¢n¢¢ Matrix. Minutes of recent Board and Committee meets'ngs" Cumt Committee Membership. Committee Meetings- Curmit Schedule. and Full Role Description for Governors. Grou Structure nd Tr8dln Subsldfiar BGS Enten)rises Lin)iied is a wholly owned alld active tradingcompany wbich uses the￿leVant f8eilitie8ofBrixtol Grammar School under license. Bristol Grdmmar School Iw a Group VAT Tegistration. Bristol Grammar School is a member of HMC (the He￿, Conference). The Society of H￿d& the ISC Undependent Schools CounciD. AGBIS IA&wciation of Governing Bodies in Independent Schools) and the ISBA OndeF¢ndent Schools. Bursars A850ciation) all of which provide the School with regular inforn]ation and adviee aix)ut changes in legislation, regulations, compliance and besi Practice. The School's H¢admasi¢r, MrJaide¢p Barol. is the CUTr¢ni Chair El¢c¢of HMC and will tske overas Chair for the n¢xt ￿adeMiC year. Briytol Gramnjar School ￿nefIts from thegeDer05ity of th¢ Old Bristolt4ns' s￿l¢tY, th¢"Fri¢nds of BGS" (Senior st1￿0] p8r¢nts) and"BGS Fri¢nds Infants & Juniors" Illlfanl and Junior S¢hool parrnts) all of which supp)rt the St1￿01 alld wntribute fuwoially to prize fi￿d5. proj¢cts and bursari¢5. Th¢ FIi¢Dd5 groups significan¢ly add to thc collunurrity, friendship, character and 6th08 of the sch(K)l. Their hard work and 5UPPOrt is greatly appreciated by the Board, the HeadTn&sicr alld other ￿e￿berS of tb¢ BGS cottllnunily. The 8eDior school's Par¢nt ForLEm plays aTL active role 11] the cornmunication between the Headm&sier, the Key Managerneni P¢￿0nD¢1 and th¢ pupils Prlnd al Actlvl The principal activity of the Con)pany is to mana8e and administer the School for girls and boys k￿0￿n a5 Bristol Grammar Sb'hool. All the assets, liabilities and conlra¢ts of the School were tratjslerred to the LoTnpany pursuant to a Charity Commission Scheme dated 17 June 2004 {"the Schcme'y, and the Company h&8¢arriedon theiwsiness of the School since that date. Registered Company NumbeT.' 05142007 Register￿ Charity Number.. 1104425

Bristol Grammar School (A company lirnited by guarantee) DIRECTORS, REPORT (conlinued) for the year endeAI 31 August 2023 The number of pupi18 at the School was lJ67 4t th¢ year en Other Directors, re ort disc105ures Disclosures required by the Companies Act 2006 to b¢ included in the directors, report alK)ul engageTneT]t with employees, Supplier￿ customers and other stakeholder4 and energy at￿ cath)n rep)rting have beeT] iT]cludryJ below in the Strategic R¢￿rt section of this Teport. STIi4TEGIC REPORT OWECTS AIMS ORJEcfivES AND FUTURE PLANS Th¢ objects of the Charity are: To advance the ¢ducation and training. by the provision and condu¢L in or nearthe City of Bristol, of a day ￿h0o] or schoo18 for boy8 and girls an(L in 80 Car as il 1$ in¢idental or ancillary to the advaDcement of education, $u¢h other purposes forthe benefit of the k)cal wramunity as shall be ex¢lu$iv¢ly ¢haTitabk. Hi8torieAI Context Bristol Grammar School was founded by Royal Charter, i&sue41 by Henry Vlll on 17 Ma￿h 1532. Pre.dating the city'1 Other independent scho(Trls and its two universities, BGS h¥5 played a central part in Bristol life ever since, star￿1￿¥ foT the besl in education and Care for its. pupils in the city for almost five hunitred y¢ars. It continues to navigate suc¢e&8fully the ￿ucatIOnal cross-cumts of tradition, pro8re&8ion and in¢lu5ivity, and it remains rnindful of its past whilst being more aware than ever of the ne¢d io keep looking forward. In chan8illg economic nd politiLal times, BGS continues to develop young adulis of ingrity and characier, rigorous in their applieaiio ompassionate in their outlwk. and ￿aY to make a real and la8tillg difference in the world that awaits them. Endowed by Nicholay and Robert Thom¢, the S¢hool was estsblished "for the t¢a¢hing of literature and good manners" toihc sonx of merchants and tradesm¢n of the city. It has evolved ¢onsiderdbly since then- most notsbty. it is now a prO￿lY coeducational school - but the desi￿5 to build an education around academic etNJeavour, 8UPPOrtive pa8tOT81 care and the development of gi)od chaTaclrr, and io include those who might not othenvi8e b¢ afforded such a privil¢8¢, renmin as central to our Mi&sion now, when the School was estsblished. Mlsslon To provide an exceptional and Tounded ¢d￿allOn to who might benefit from IL regardle&s of their backgft)wid and finan¢iJl rnealls. l. To nurture, chall¢n84 &nd celebrate each individual. 2. To develop an ex¢itement for leaming which goes beyond school. 3. To promote physical and mental wellbeing, and ihe development of good charader. 4. To make a BGS edu¢ation available to all thoie who mighi benefit from it. 5. To be a diverse school 2nd one which $erve$ Bristol and beyond. 6. To ensure ihai the ¥chool contLrtue% to flouri$h for genera¢ions ￿ come. Values Kindn&8s. Integrity and Rigour. Regi&frred Company Number: 05142007 Re¥is*red Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continued) for the year ended 31 August 2023 Oh"ectlves Future Plans The Dirttkn and HeadDWtW'8 main objectives are to". fill all available places with girls and boys who have &monstrated they have the p)tential to benefit from attending Bristol Gttmmar School., maintsin a cornmunity with as broad a sociiKconomic mix of pupils as p)ssible. from all elements of the Bristol community. by supporting a signifKJnt prow)rtion of pupils with the cost of educatio on a meanS-t￿d basis, from th¢ S¢bool'$ limited endowrnent fu￿ and other fund raising,. Ju¢4t¢ all pupils to the highes¢ wssible standard with excellenl teaching and learning and extr4- ¢UTTi¢ularopwTiunities to enable them to develop their full poniial and attend the university, further lu¢ational course or work training of their ¢ly)i¢¢" recrnit the highest possiThle calibre of teaching and sUP￿rt 8tsff and faeilitate th¢ir ¢oniinuing professional developmenl approve appropriate improvements to the Sch(rt)I's facilities and equipmenL within budgei constraints, including the best use of iechno108y; proi'ide a h4)py and 5Ecure pastoral cnvironmenl with 5afeguardinB at th¢ for¢front, in which all pupils eart flourish with opportunities for leadership, service and an acknowledgement of rwect and consideration to other$. furth¢rdevelop the already strong links with our parents, extended families and alunmi commurity. be a r￿QgniSed force forgood beyond the school gates, widening access and carrying Outmeanin¥￿1 charitsble and community paTtner8hip WOTL both locally and more widely. Rlsk M8n8 ent Th¢ followwj national Governmentand Local Authority guidance throug1￿tthe pandemic. The school has now returned to pre-pandeniic nonnal (yerations. althou￿) we continue to ¢mphasise good public health controls. a6 a matter of daily routine, for the School's pupils, staff and visilor& The S¢h(N)I has a wmpr¢hensiv¢ Risk Register which is revi¢wed and updated each terni, by the KMP and Governors, Committ¢e$ and r¢vi¢wed by the full Boa Th¢ wntrols us¢d by Bri51ol Sth¢x)I to Min1r￿Se risk in¢lude: Strategic development planning, self-evaluation and Key Perfonnance IndicatOT8 reviewed tern)ly by th¢ KMP and the Board,. Comprehensive budgeting and monitoring including the preparation of Income and Expendityre Accounts. Balance Sheetsandcash Now For￿88￿With appropriate financial commenwand 8en$itivity analysis- Capitsl appraisal and feasibiliry papers authorised by the 8PPn4iriate Govemors, Committec and Board for major capital projects or expenditure., SchedulE of condition rqJort5 prepared by 4W0[￿￿telY qualified professional advi5¢ES" TernLS of reference, together with fonnal a8enday, for c(￿n￿itt¢e and Board bu¥itKs¥" Careful Governor re¢ruilm¢nL with ￿rOpriate skill¥. to ¢nsur¢ all risk areas are compreliensively Established organisation struclures and lines of reporting,. Fornlal written policies. Appropriate regulatory vettin8> safeguarding procedures aThJ re8iSters as required by jaw and other safeguarding regulations,. and Continued prOf￿&10nal develc4)nLent and trainins. Registered Company Number.. 051421K)7 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (conlinued) for th¢ y¢ar ended 31 August 2023 The School contracts the ¥ervscc8 of an independent Health and Safety Consultsnl WI￿ carries out Tegul4r irt8pec(ions of the school buildings. oversrts various departmental risk assessments. Iwiih the full involvement of the relevant departmental stsff), Hcalth and Safety audits, witb the highei risk departments being audited nM)st frequently, and provides other ¥ecialist advice, as required, such 4$ Fire Risk Assessments. Regular Building SuTveyor Inspections are aL80 undertaken including high level insp¢ctioJJ5. Action lists are prepared and these are Mddre55ed within the time approved by the independent adYiser5. The work of the Health & Safety Corjsultant olld profe&sional advism i¥ overseen by the Bursar and F￿111￿e& MaT]agcT. Other independent profes8iono] advisers are contracted by the &hool where the KMP And Governors consider ¢his appropriate. TTaining and con¢inuJl professional development is al80 seen as an important way to reduce risk￿. Professiot]a] advisers and members of the KMP attend and present, where nece&sary, to the appropriate Govemor Committees and the full Board to %upport the Directors in their Governance of the School. Other key arw of rlsk that are ¢on8id¢r¢d reviewed by the KMP. the Board aDd its Committees include.. Robust Child SafeguaTding Polici¢s. syst¢m$ alld appropriale regular tr41n1n￿, Inc1￿1n8 mental health and divetsity issues, for staff. Pupil recTUitm¢nt including the setting of School fees in rel￿10n to affordability. Health & Safety, Site se￿ntY aT]d regulatory requiren)ents' Human Resource matters ]￿lUdIng complying with regulatsons aTKI the retention of key members of $taff. both teaching and suppor4 which is uitical to the succ¢8s of the SclKK)I,. IT Sexurity. cybercyime controls and data pro¢&tion matte The Safeguarding of the School's Land and Builditig4 Equipment and Other Assets iu¢fvdin comprehensive insurance; Fund Raising Policy and en8uring the Charitable Objects of the School are complied with amd advanced. Swiario planning and appropriale, prompt re%ponsestoanyp)litical, ¢wnomic orpublic health changes" Any Legal Maw and Governance of the School. ISI Ins ctloll BGS was inspected, in May 2023, ￿ part of the routine cycle of inype¢tion caTTiEd out by Independent Schools Inspectorate "ISI" (our equivalent of Ofsted) who sought lo wnfjnn our cornpliance with The Education Ilndyndent School Standar(L%) R¢byul4tionB 2014. ISI ii)4peLtors Tai)ked BGS ts 'E¥celleni' in are&% i￿1P￿ted durii)b the EduLalional Quality parl ot the in¥pectioll: Ilie qualiiy of pupilx academic and oiher achiev¢ment%. aiid tlie 9ualily of pupil%' per&onal dei'elopnieni. Furth¢T details and highlights of th¢ in¥p¢ctiort a full copy of the rq)ort are on the School's website, the link hti x'.Ilwww.bristol ¥ramn)aThbliool.co.uk/whaL¥-on-an&newOnew¥lb xcellent-in. tion-2023 The ¥rl)ool hod also previously receiv¢d an Indcpcndent Schools InSp￿tO￿te {ISI) inyction on 17 October 2022 with the primary focus on the spiritual, rnoral, stKial, and cultural development of pupil$,' s8fe¥uanling* behaviour,. bullyin¥,' risk 81s¢bsmenL and the handling of parents, complaini$. The 8¢hool's compliance with other regulations )Elating to the primary focus was also in$p￿t￿. The 8ymm¥ry of rep￿7ng inspectOTS' f]ndin8s was follows.. for the regul&tion5 which were the foaL8 of the in8pe¢lion, the met all of the requirernents of the Educauon {Ind¢pendent School Standardq) Regulations 2014. no further a¢tion As requiTrd as a resuli of the in$pection. Registered Company Number.. 05142007 Regi¥terd Charity NumbeT: 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continued) for the Y￿ ended 31 August 2023 O er4tlono1 PerformAllce of the School Introduetlo In accordance with its Aims, Bristol Grarnmar School encouragcs &ll pupils to participate in a variety of activiti and opportunities, both curricular and ¢(￿lTricUlar. This h¢lps to maximise their personal dev¢lopmenL well- being, confidence and teamwork. and just as importantly. it encourages them to enjoy all aspects of ￿h0o1 life whilst forging lifelong fr1cndsh1￿. Co-CUTTicular activities ore spr¢ad a¢TOS$ a wid¢ T8ng¢ of sports and the perfomiing arts as well as many other Clubs and opporttinities. A 8¢lection of sch(N)l-wide achievements are detailed below.. Despite the challetvdes of the p8ffldemic ourexam cohorts achieved exceptional results in theirpublic examinations. A Level Result6 Ai A level. our students achieved a 99.70/0 pa&5 Tate. Ov¢r half of th¢ gradcs of wr 143 strong cohort were A or A grade, with 810/0 at A _ B. This year, 39 pupi18 took the ExndeAi ProJ￿t Qualification (EPQ). achieving a IOOYD pass rate with an impressive 6PA securing an A• or A grade. International Baeulaurtate Results Twtrthirds of the students were awarded 37 points {wuivalent to AAA at A level) OT aik)ve, well ahead of the 8lobal average ￿Ore of 30.24. Seven of these stuiknts were awarded 40 points or higher, this is equival¢nt to gaining 4 grade A at A level and plac&4 them in the top IO•/o of IB diplon￿ studenL8 globally. Impr¢&8ively, three studen18 swr¢d 42 or high¢r. a r¢sult achiev￿ only by the t(y 2Yo of entrants to thi8 global qualificatioJL ext Step8 Our s￿dent￿ are supwrted to ¢ho(xqe ¢ours¢s that fit their interests and talents best aDd go on to a broad rdnge of future path8. Thi8 year's I￿ver8 will follow over 80 different courses from Physics with Astrophy8iCS 8nd Mechatronic Engineering, to Zoology with Herpetology and Mu&ical Theatre. Pupils ar¢ al80 going ¢)n lo Art Foundation COUTses, Drama school, Patl8serie trdining a¢￿1¢mi¢S and to univ¢r8ity S￿dY over8¢as. The majority of BGS pupils opt io continue In￿ university eilucation. with 830/0 s#uiing their pref¢rrvJ choice univ¢rsity- to over (KJ d&8tinations- including 9 to Oxbrid￿. GCSE Resultg More than half of all grades were at 8 or 9 (with 3￿/fj of all grade4 being at the ti)p gt7d¢, 9), figures which a ahead of The already high prewdemic averages achieved ai BCYS. An amazing on¢ in flve pupiLs gaincd ten or more GCSES at grade 8 or 9, including 13 S￿dents who have grade 9s in ten or more subjects. One in three pupils attained ten or mor¢ grades 7, 8 and 9 (equivalcnt to A_ A in the old 8yStem). and half of pupils achieved ¢ight or more grades at thi.% level. Co•C￿rTiCular Adivities Trip5 Our pupils ¢njoy a wide r￿ge of ¢o-curri¢ular artiviti¢s in¢luding sIM>rt, music, dr4ma and d8n¢e well ￿ a diver8e range of other ¢lub& artiviti&8 and opp)rtunities. This y¢aT ov¢r 80 enTi¢hing clubs wj outsid¢ of ¢urri¢ulum lim¢ (&8 well os some 22 &¢ademi¢ ¢lini¢s for¢xam groups). The school offers pupil.8 the opportunity lo tske part in a number of community outre4ch projects and charity wo which are embeddd within the culture of the sch(MTrl. Staff and pupils ¢ontnbutrd 6.284 hourb of outr¢a¢h and volunteering including ourpupil-led community actiim club. P¢rforniing Arts ¢ontinued with Su￿&￿eS in LAMDA and music ￿Ade examinations> pupils ranging from Y2- YI I took LAMDA exams fiDm Introductory acttng through to Grade 6. as always Tesults were fanlastic achieving 6 Merits and 45 Distincuons. There were 1,702 perforniance opportunities in Perforn]ing Arts at BGS last year. Altingside events such as the Battle of the Bands and House Dance and Drama compelitions and our atinual Autumn and Spring ¢(￿¢¢t￿ the school pffthi¢tions of Annie and our Year 6 perforniance of the Little Mermaid brouLht pupils of abilities onto the btage. R￿•Stered Company Number.. 05]42￿)? Registrred Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continued) for the year ended 31 August 2023 BGS organi8ed 652 tripsltrainin&lexpedition opportuniti¢$ in (hltdoor Educauon. Bronze DotE has transiti0￿d from Year 10 into Yrar 9 enabling Year 10 pupils a¢cw8 to a more adventurous expediiion. Three students w¢re invited to Buckingham Palace to receive their Gold Award. There have been many other trips both in th¢ UK and further afield such Year IO'S visii to the battlefi¢ld% G¢ogrnphy'8 Sixth Forni trip to Snowdonia, Y¢ar 8. bushcraft trip and Yw 6,5 visit to Mendip OufdooT Pursuits. In STEM, three Year 10 pupils were Teen Ttth Awarf¥ finali¥L8. Their produci dc5igned for neurodivergent people, reduc￿ sensory ov¢rload. Individual Succe￿ and achi¢v¢rn¢nts included a BGS Sixth Fom) student who recited an incredible 1,151 pla¢¢$ of Pi making her the hiLyhe&i reci￿ded British female of all time, as per the Pi World Ranking List. SpDrtlng Achlevements Pupils have excelled in a wide rdnge of sports, both individual and team, at regional, national and international levels. There were over 1,100 regular pupii participations in team sports with l(X) tearns participating in more than 900 fixtures during the year. Our Ulfj girls qualified for Ix)th netball and hockey regional finals. Our climbing team won the Girls Under 18 tTophy in the Independent Schools ClimbinB Championships. BGS also hosted the Avon sch￿1$ cr0&4-county, with 5¢v¢n of our students qualifying for the Avon team to eompete in the south west f]nals. L&￿ly, our &yolfersclaimed the vi¢tQry Lrt the prestigious England Schoo]s Tearn Golf Championship ending our Bporting yeaT on a hi¥h. A large number of pupils have been chos¢n to play for their countle& academie4 or n￿lOn8]lY a vartety of sports. Individual success and achievements included a Yeor 9 pupil who won the Bronze medal in the World Kickknxing Championships, the Com￿titiOn eornprised of 2,500 entranL8 f￿M 62 countries. One Lh pupil was selected onto England Athletics, Youth Talent Programme for her 800m running. A Year 10 ￿p11 won the 28th Junior European Taekwortdo Championship in the 1¥17 age group category. He competed with over 50 in his cateBOry; as one of the youngest in his group. this is a faMa8tic achievement. Infant and Junior Sehooi (l&J) Pupils have embraced theirnew curriculum. new Maths and phonic Nchemeq have E¢en implemented in the Infallt School. Digital literacy has also proved popular wilh Ye4r$ 3 and 4. The ability to take the time to l¢aeh the key Skills ltsking and editing a photo. prtrjucing a short video, ¢reating an intrresting PowerPoinL Sorting dats in Excel and fonnatting Word) will hopefully help our digital savvy pupily apply these uses of te¢lu￿lOgY llior¢ ¢ff¢¢tivety across the Qu￿1CVIuM in Year 5 and beyond. Pupilg have delivered thcir own initiaiives across the school,. th¢ Junior School Eco-club worked extr¢m¢ly hard to rai8e awarene&¥ during Walk to School week and the Senior School Period Project group delivered talk¥ to Year 5 pupils. The l&J pupilg rai.%ed an amazing £2.472 by wmpl¢ting 8 readaihon as part of our World BtMTrk Day celebrations. Mon¢y has been lent to 'Read for Good.. Pvpll8' success bas spanned acAdemles? performlng and ￿Ort. Year 6 pupils won silverand bronze awards at theNational JunioT Math¥ ChAllen¥e. Pupils from the Junior ￿h{X)I competed in the National Se￿1-Finals of the Engli8h Primary Schoolb-. Chei5 champion￿lipS coming 4th out of 26 8chools. Three pupils mad¢ tile final of the BGS Classics r¢adinB competition with one claiming r￿St prize ading a piece from 'Ad Cataractonium,. In Sport our pupils have Ixen representing their school regional and national tournamenL$ such the Gloucesteryhire Girl% Ul I County Crickei t¢am, Ul O Girls Hockey Tournamenl (1st) and Ul l Boys, Hockey team who won ihe IAPS Plate competition for their group. A Junior School pupil won the Brewer Memorial Games Ul l uirl%' Quadkid8 event (heplathlon ¢quivalent for younger athlet&s1. And we celebrate a Year 5 pupil made th¢ top ien trnni% playe￿ ranking in Great Britain for his age range. Ther¢ Continue to be many opporlunitie8 for pupils to take to the stage in performin¥ krts. Da￿cerS enjoying being part of Cwella. member4 of Harn)ony Choir san￿* alongside the Senior Sch¢)ol and outreach bchools in the Autumn ¢on¢¢rt and Years 5 and 6 perforn]ed Shak¢speare's Rom￿> and Juli¢L 10 Regkistered Company Number.. 05142007 Registerrd Charity Number: 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continued) for the year ended 31 August 2023 The DevelD ment Office Our aim is to engage a global community of Old Bristolians, pa￿ts and other family membetB and ts facilitste friendships. attend sLKial and professional networking events and provfftde mentoring pn)grammes f(ff pupil$ and other Old Bristolians. We provide regular communication through ourdedicated website, online and weial mediA plarfonns. promotional literature, and a sertes of events. The SIKI C4mp*igD The Governors and Headmathr, with the Work of the Development Office. are committed to increasing life changing bursaries for cbildTen with tslenl and promise from all backgn)unds, regardless of financial means. A8 we approach the 500th atmiversary of our Royal Charter in 2032, we encourage our BGS comMu￿ltY to donate to our Carnpaign. Our aim is to enable one in four children to receive a means tested bursary of ai least 500/0. W¢ plan to rni8¢ £12million by 2032. Our fundraising drive focu&8es on high-net-wotth with the capacity to become "leadership th)nors" giving large sums io support muluple bursary awards. We also encour8¥e legacy 8IViDg and promote opportunitie5 to donate smaller and regular sums through our annual "giving day" a 36 ]￿ur onllne fundraising eveni thai invites panicipauon from the whole tttcluding puptls. parents and 8tsff. Over £1.5million Iw been raised since the launch of the Campaign in 2021 which has belped Incre￿ bursary support. 99 children are now Teceiving over W/0 bursarial supwrt including 13 children in the Sixth Forni on awards ov¢r 850/ty supponed by 7 leadership donors. Our established trusts and donoTS continue to supp)rt 13 children with awards between 50.850/0 Th¢ 500 Campaign received all Insti￿te for Developmeni Professiona]s in Education (IDPE) industsy award for 'Sest Campaign" in 2023. We do not U8¢ third party professional fundrai8¢rs WKI we ensure that our ￿ndra18lng confomis to and exceed8 best prnctice. We do not c¢)ntact the general public, including vulnerable people and any complaint& if received. would be rewrted and dealt with promptly and thoroughly. The Headmaster oversees and monxtors the work of the Development Office and the Director of Dev¢l(ymenL and reFMJrts to a Governor Committee and the full rkTrnalions hnd lega¢i¢8 knve been received from 4 variety of Ttvsts. Foundations. Parents, Grandparents, Old Brislolians and other friends of BGS. The Headmaster, Governors and BGS Community expre&8 sincere tha for all of these generous donaiions and legacies which provide life changing opportunities for the supported pupils and their families. Our sincere thank5 to all donors ￿ Bri8tol Grammar School. through theircontinued gen¢rosity we have been able to educate a ￿l¥nifiCant number of pupil¥ who mibiht not otherwise have this life-changing opportunity. Pubm Ben The Charity, in accordance with its Objectsj provides du¢ation forboys and girls aged Akl8. The Charity also provides public benefit OppOnL￿1￿eS through.. The provision of mean8-te8ted bur8ary assistance (up th IOOVO of the fee plus 8 contribution io other essential items a pupil may require) to fomilies whose children Could no4 forfmancial reason4 othenvige attend the School, as explained in the schwl's mission ststemeni on page 6. Provision of fa¢ilitieg lo lo¢d s¢h(K)Is. otheT ¢horities and community group$ (at no or significantly reduced charge). Being in partnerthips with other schools (slate D￿Intained) to provide l¢sson4 advirx, support and a$8istance 1$ 4)propriate, (including Wlth thc Bristol Education PaTtneThhip)- Raising moThey for a number of UK and Over￿8 ¢hwriti¢y thrOU￿hoUt the year, and Participation of many Senior S¢hwl pupils in Community Volunteering a¢tiN'ities. Registered Company Number. 05142007 Registered Charity Nun)ber. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (conlinued) for the y¢ar ¢nd¢d 31 August 2023 Publ1¢ Benefit eontillued The Governors aJ)d Headmaster continue to explore a number of ways in which the ￿h0o1 may be able to help with educalional- and wider- provision throughout the city. As refe￿¢d to above w¢ are a founder member of the Bristol Education Partnership. a group of 17 bodies including state ￿￿[}018, independent sclh)ols, universities and the ¢ity council, with a number of aims in¢ludin¥ overcoming disadvantsg¢ for Brii*tol's youn8. In furtherauce of these obje¢lives the Governors, choTity tTuslee$, hove complied with the duty in %ection 4 of the Charitie% Aci 2011 to have Itue regard to the Charity Commi&sion'$ publishoj general and relevant sector Buidance concerning the operntiort of the Public Benefit requirement under the ACL Bursar . Grants 145 pupils (2021-22.. 143) were award¢d fees a￿lS￿nce totslling £1,236.358 {2021-22: £1.023,548). The GovernoT% and Headmaster share 8 long.terni commitmeni w significantly increaying bwsary sutvort. A con¥idcred review of a number of Crifrria are tsken into consideration in the ￿loCatIon of fmanci41 awaTds. Scholar%hS Polle Scholarships Are awarded to Trcognise an individual's exceptional abiliti&% in ony one, or more, of a number of areas- &¢ad¢mic, 8)orL and the creative and perforniin¥ arts, music. dan¢¢ and drama. Pupils awarded a BGS Scholarship will T¢ceive an aunual granl to supp)rt their development in the field of their award amd join the S¢hwl'8 Scholars Programme. ¥ivin¥ them ￿ce95 to a wide range of opportunilies designed to stretch and chollenge andencourdgetheir lov¢ of learning. Scbolarships are a￿lIable for entyto oursenior SchiK)I and Sixth Fonn. Te4chln Llnk BGS Co￿tinued to provide placement training for StL￿ents undeJ¥oing their initial teacher trninins. ITJ additio qeveral pl8cemcnts have been hosted for potenlial PGCE students aTrJ teacher apprenticcships. includin8 for ex- BGS pupil¥. The Scho¢Trl encourage8 BGS ￿chIng staff to a¢t as examiners and a￿e$¥0￿8 for examination boArds. A tkputy Head isthe Markin¥ Progranm)e Leaderfor theKS2 Maths National Curriculum Tests. We aL￿ have twomembers of stsff who are ISI School insy¢ctors. The Envlronment Su$tolnoblll ' and Rec clln Bristol Grammar School fully acknowledgies its r¢s[th￿ibilItY rc8arding the impact it has on the environment and the importance to lead by ¢x¥mple regarding 8u$tainability and recycling. The School doe4 have con%lraint$, such as the age And constTU¢lion of some of its older buildings, and the listed ststus of the rnain ￿h0o1 building. but has already undertak¢n a si&nificani amount of work to be as environmentally aware and responsible as possible. A number of initialiv¢s- many of which are pupil-led- continue, such as ensuring minimal w8%te from all fo(MJ production and CO￿5￿mption, the removal of all 8ingle-use plagtic water bottl&s. the provision around the gite of recyclin¥ poinL8, and encouraging more sustainable mode5 of ￿￿port to and from Khfjol with BGS being acknowledged with a bronz¢ award trom Modeshift STARS for the s¢hoDI'8 travel plan. The Sch(￿1 ha% registereil with Let's go Zero by 2030 and the Governorg and memt¢rs of the KMP have undellaken di￿￿8¥19￿9 with consultants regarding the School's carbon reduction. Whilst there is much being undertaken in thi% area, th¢r¢ are fvrther planq for pupils and staff io increase the ¥wpe Alld reach of eni'ironrnental work. The ￿1]0￿] has recendy received the Ew S¢hwls Green Flag aword in r¢cogrtition of its Ivork in this arEa. 12 Registered Company Number.. 05142007 Regi%iered Cljarity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS. REPORT (continued) for th¢ y¢ar ¢nd¢d 31 August 2023 Gender Pa . Ga Re ort and E ual Pa ' Bristol Grammar School publishes its Gender Pay Gap Report on its website. The school is keen lo encourage all applicants i￿Spe￿1Ve of gemder, to apply for senior positioTh$ when these become available at the qehool - the KMP IM)dy h&8 a ratio of 50.50 women to me￿. BGS proactively look$ w offer flexibility in management positions where feasible, such as job share and part lime working to provide greater acce&s to these posts. BGS off¢ts th¢ 8am¢ level of pay for at)y position r¢gardless of gender. ortllnldes The SCI￿01 has given due consideration kn applicants and employee8 with disabiliry as documen*d in our p)licies and pmcedures. In the Employee Rtttulthient and Selection p)licy the aims as follows: To ensure that the best pO￿lbIt staff are reernited on the basi8 of their skills and experience. To ensure that job applicants are considered equitably and consisia)tly- the system the school usLs for applications anonymises condidatrs thwing the selection process to ensure fairne&8 in the following areas: age. disability. employment statti4 gender (including gender rea&8ignment). maritsl stallis (including civil partnership), ra¢e {naiional and ethnic origin), religion {andlxliefj and sexual orientation. To ensure compliance with all relevant recollimendats.ons and guidance including the recomm¢nd4tion8 of the Department for Education (DfE} in Keeping Childm) Safe in Education {20231 and the code of pJEctice published by the Disclosure and BaTrin8 Service (DBS) To ensure that th¢ School me¢ts its ¢ommibll¢n¢ to saf¢guarding attd promoting the welfar¢ of ¢hildr¢n and youog p¢opl¢ by ¢arrying oui all ￿￿¢Ss￿ry pre-¢mploymeDt ¢b¢cks. To contlnue the employment of, and arranglng approprlate training for, employees of the School who have become disabled persons during the perlod when they were employed by the School, and To develop the tralnln& career progresslon and promotlon of disabled persons employed by the Sch¢)ol. En Th¢ School seeky to provide etttpIoyff5 with inforniation and increase employee en8agem¢nt in many ways some of whieh are as follows.. Externally seL anonymous staff surveys covering wellbeing a￿j engagement. rnn e8ch temi. Bri¢fJng$ for all Staff, including tennly strd¢egic Headmasl¢r bri¢fJngs. which include KPIS, details of budger r¢views and pay and pension infornialion, when applicable. Weekly bull¢tin and briefing to keep people infornied on a full scope of Sthool matters. An Infonnalion and Con8ultaiion of Employees Committee with employee reprt8entstives fmm all areas of the Schry)l. meet ternily as a minimum. Specific INSET sessions to eTJgage employees in a variety of topics and professional development including cross departmentsl working. Positive staff c(mimunity, promoting engagement within areas of the School outside of their arealdepaikn)enL The Sch￿1 has a Joini Negotiating Process with the Naiional Education Utiion. It is with great sath)ess we report that Paul Abrams, a much-loved member of BGS stsff> passed away at the end of the academic year. Our tknughts are with his wife, also a loyal member of staff, his family and friends. A hard working and integral member of the FaLilitAes Team ai BGS, wbiLh he joined in 2008, Paul was a familiar and friendly face lo many in the LIGS community. His cheery personality and willingness to help made him incredibly popular and Paul Tegularly went 'above and beyond. for sthff and pupils alike. 13 R¢gistercd Company NumE¢r.' 05142007 R¢gisteTed Charity Numb￿.. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT {conlinued) for the y¢ar ¢nd¢d 31 August 2023 Comrnunlii. Involvement BGS etteourages its pupils and stsff kn b￿0￿¢ involved in community outr¢aeh projects and worL including the provi&ion of an INSET time (at least half a day a year) specifically for 8taff to help with Lommunity work. The School aly￿ offers the use of its facilitiey pnd equipment to local junior and Senior State schools and other Organi%￿lOn8 and clubs, either free of charge or at reduced rates. Th¢ ￿h9o1 published its first Impact Report detailing itA parthership and outreach work and itllP4Ct, in our community a￿1 beyon Charl Fundralsln Raising mon¢y for Charlty is a very important P4rt of school life for Fwils and other membcr5 of the comn)unity at BGS, both on a whole scbool basis within the senior, jullior and infant %hools, and also by individual House events, encouraging kinth￿$s, tramw0￿ and social responsibility. Both pupils and staff sit on the sch(K)I's Chwity Committees. A total of £7247 was raised in 2022-23 for a divcrse rangeof chariti￿ both inthc UK and Overseas. ChaTiti¢s supported included Morocco Edu¢ation For AIL Movember, Siblings Unitd, St Luke's Lunch and continued support for Ukraine. Significant lime goods were also given to a numixr of locil charities which included Caring in Brimol, St Joseph's caTe home and North West Bristol foodbank. FIIYAIYCIAL REVIEW AND RESULTS FOR THE YEAR The School's main SOU￿¢8 of revenue are from school fee4 investtnent income deriv¢d from its pern￿t endowmenL bursary and other funds raise￿ legacies and receipts from exlernal chorit8ble Irus15. Third party revenue a]so generateli the commercial and community use of the School's 1532 Perfonning Arts Centre and Sm Facilities through its trading subsidiary, BGS Enwrises Limited. The Schcois Fees Policy is to set the fres at a lev¢1 which will be gufficient to meet the running costs plus an appropriate element for rnaintenance and capital inveslment. The I￿¢S￿lent income will conlinue to be ￿Sed to provide meansvle4ted bursary assistance with ftes. The tradinb perforniance of the School showed a qurplus on unr¢striet¢d funds (before investment losp£s) of £23,971. (2022.. deficit-. £194,563). This 18 aftera depreciation ¢harg¢ in the yearof £1,092J35 (2022.. £1,052.033) nd donations of £40.583 (2022.. £162.138). The unre5tri¢ted swry)lus is alqo #fter exeeptional repair and refurbishment expendiwre in relation to 4 new tnultipurp05e yLience laboratory, the refurbi8hmenl of sch(N)I's library, externally and internally, with enviri>Tmental improvements ond 8 new outside cl&$sroom for the Infants sch(￿1 and refvrbi8h¢d ou¢sid¢ play ar¢a totslliTLg £151,042 ¢hargeil to rcpoirs and £363.830 capitaliqed. A8 dcscTibcd in more de￿11 below, the S¢h(K)l adopted Totsl Retym a¢countlDg during the year and £IJOk wos tran8ferred from the endowment tounre%tri¢ted funds to ¥Fo (oward¥ inw¢asing the funding of pupil ftt8 ¥&8i%tan¢¢. The Sch(K)l uses Key Perfomthnce IrtdI¢atO￿ to monitor the School'6 finan¢ial wforn]ance, exampl¢s of whi¢h, with further comment below, are the followiftg: 2022-23 2021-22 Pupil Dumb¢r at year end Staff co¥Ls {¢xcluding holiday pay adjustment) &4 percentage of income (excluding donationsl BuThary. %¢holaNhip and other fee remi&¥ionx percenthge of gro&s f¢e in¢ome Year-end cash balance Capital expenditure (including investtnent property) in year 1267 .337 72.6Y 10.4/ £6,161.266 £25*,639 £5.621,192 £909.195 The Governors acknowledge that the trading results havebeen impact￿, following the pandemie, the Ukraine war and rewlting inflaiion and BREXIT labour and ¥upply problems. Control over ¢&sh flow continued to rnnain a priority expenditure f¢)cus¢d on the delivery of a quality education h￿1th and Yafety maitery. 14 Rc8islered Company Number. 05142007 Re8iStered Charity Number. 1104425

Bristol Grammar School (A company lirnited by guarantee) DIRECTORS, REPORT (continued) for th¢ y¢ar ended 31 August 2023 InteK8t from f8milacs wishing for th¢ir childrwi to join th¢ Khool remains str(mg with a T￿ord in tske for 2023- 24. the school's strongest everroll. Stsff salaritr8 the School's largest expenditure cost bui Staff are also the School'8 greatest asset. The school, staff continue lo work extremely hard to deliver an excellent academic, extra-￿￿1¢ular provision and p&storal pport. The pupil&' 2chi¢v¢rnents in public examinatioTh8 were outstanding. The Governors, w)licy is to Teward stsff appropriately to en8ure the School recruits and retains quality teaching and support staff for the etfi¢ient operati¢)n of the S¢h(yol and to deliver an exceptional education￿ experience for all our pupi18. ThThilst the Governors endeaYouT lo wnsistently keep fees increases a6 low as p08sible, subject to the economic and ￿litical condition5, to help all families, du¢ to the impact of the pandemic and infiation the fee increases Tn 2022-23 and 2023-24 hav¢ been hi￿ than nornlal. The number of pupi18 receiving knsary support has increased over the last five years. It is the Govern(￿, mi&sion to incr￿se bursary guptx)rt. wbjeci to futt]re fulldillg and other CQDstraints, foT pupils who will benefit from an eilucatioJJ at BGS and would nol otherwise k able to attend th¢ School. The Governors monitor the School's cash positton and 8re wntent with the change in ye4r-end cash bal)ce refl￿ting the Cost ¢ontrol during the ¢haIlenging e¢i)nomic conditions. A ststement of cash flows can be found on page 27 of th¢ FinoD¢Aal St8tem¢nts, ered Char ChaTges bave beeD rebii8teTed in favour of HSBC Bank PIC over some of th¢ IDV48trnent Propertie8 owned by Briytol Grammar SchiM)l and six houKs that BGS owns ¢)n Elton RO￿ Clifton, Bristol, as detailed in note 15 to th6Aceounts. The ¢harg¢8rela ¢0 a ioaThfrom HSBC tak¢noui forthe¢onstru¢tion of th¢Perfor]ning Art8 Centre. Coln CoJ)c¢rn The Governors. revi¢w Ond moni¢or th¢ School's detail¢d incom¢ and ¢xp¢ndityre budgd which includes ¢ontingencies for th¢ risks of lost in¢ome or AdditAOn21 expenditu￿. Management a¢¢ounts are prepared regularly. and results. are monitored closely against budgd with any mai¢ri81 vorian¢¢s atvdlysed in detail. The School's pmjections, including sensitivity analysls and cash flow fo￿aSts. are ¢losely reiryewed by GovemoTS in ord¢T ¢0 make pNdeni finan¢ial d¢¢isRons for the S¢hool. The Directors ￿llY consider the following in their 8nalysi8 and ￿eW of going concern.. The aecounts of both Bristol Gtwnmar Sehool ond its tr2dAng 8ubsidiAry BGS Enterprise8 Limit¢d. Budg¢ts, for¢¢asts attd ¢ash flows whi¢h ¢xtertd both twelv¢ monthg b¢yond both the Balance Sheei date, 31 August 2023. and th¢ date when these fJnan¢ial statements are $igDed off. Th¢ bank bal￿¢¢ a¢ the 31 August 2023, which remains strong and refiects the cost control during the period of the pandeniic and the Bubsequent infiation period. The cash coll￿tIon of the autumn trm) 2023 continu&% to be good. What exrrttdi¢w¢, including ￿pital projxts and technology. is appropriate foT the sustainable of th¢ S¢hool. Bri81ol GrdmmaT School 15 in compliance with all its banking covenan The pupil numbers ar¢ at arrford high with ¢¢)ntinued ¢xcellent external exam results and continued strong interest from prospective parents and pupils wishin8 to join the ￿h0O1. The Balance She¢t at 31 August 2023 is healthy and EK>th c05t control and cash collection remain a priority. The Governors, H¢8dmaster and Key Management Team are continuing with thcir Teview of the School and busine8s operations to ¢nsure appTopriate efficiencies. The Directors are therefore conteni that th¢ fthan¢ial stat¢ments hav¢ been drawn up on a going concern basis. 15 R¢8iSter¢d C(>mpany Numb¢r.' 05142(K)7 Registered Cl]aTiiy Number. 1104425

Bristol Grammar School (A company limited by guardntee) DIRECTORS, REPORT (conlinued) for the year ended 31 August 2023 IDve8tment Mana eDt At the year end the S¢hool's Investh)ellis. combining secwritie4 commercial and T¢sid¢ntial property, totalled £20,418,602 (2022: £21,294 J146}. Challenging rnark￿ condition& eoniinued during the yur due to the Ukraine War and subsequent inflation, as well as labour and supply ohallenges following BREXIT led to the SchiJol'8 investmenis experiencing unrealised10&8es during the year. The School's inve8ttnent pro￿rtY prtfolio rett￿IDed strong refl¢rting a ¥aiti of £45,(KQ. Th¢ Combined 1088 on inY¢%knenL$ totalled £806,339, (2022.. lo￿$ of £652,470) and the IDVCStment Income (in¢luding bank interest) gen¢rated during the year was £755.659. (2022: £562,522). The Dire¢iors' policy is to hold & balanced wrtfolio of investments which enhance the real value of the capitsl investd whilst 8Iso PT(ducing an appropriate level of income to maintain the School's commitment ¢0 provide assi5ton¢e with fees for tho¥e pupi]s who would not otherwise b¢ able to attEnd BGS, and this r¢mains a key goal for School. The School'8 investmentportfolio has b¢¢n split alld is managed by Eve1￿ PaTtllers Invesknent Managernent LLP d Ruffw LLP in order to provide the S¢h(bol with balanced and complementary investhient portfolios that hedge again economic andpolitical volatility. The resulLq have been disappointirtg in theyearmainlydue tothe political and economi¢ uncertainty. The Governors receive and Teview inv¢$tw¢nt summary repoTLS frorn both Investtnent Managers regularly throughout the yeor and eitheT meet with the Investhjent Managers or speak vi8 a conference call to di8CUSN th¢ portfolios and r¢view stragy at leasl three tim¢3 a year. Total Returtt A¢¢ountffin After taking appropriate legFal advice, the Governors of Briqtol GrammaT Schtx)I pa*sed a resolution on 23 Jun¢ 2023 to adopt a total rebJTn apprO￿h to inves¢rn¢llt for the pem)anent ¢ndowments, excluding any direct holdings in investment property. for the Bristol Grammar S¢h(K>l Trnst and the Bristol Grammar School Scholarship, Bursary and Priy Fund. The Goyernots acknowledged their statutory duty to ex¢r¢ise thexr powers in ￿latIOn to the Fund¥ in su¢h a way, actin¥ in 8wd faith, th¢y reasonably believe will not lo prejudice the Charity'8 &bility to further the Funds. pUr￿Se5 now and in the future. This also applieq to future Governors of BTi8tol GTamm8r School. The value8 of the Trust for Investment were detern)ined Et 31 Au¥u8t 2022 and the initial Unapplied Total R¢turn "UTR" were a$ follows. {The impactof inflation has been token into consideration inth¢ ¢alculauon8 ofthe UTRs)= Bristol Grammar S¢hool Trwt £3,775,816 Briytol Grammar School Scholarship, Bursary and Priz¢ Fund £470,257 The Governors hav¢ authorised the withdrawal of £150,000, since the adoption of the resolution, to sllpplement bursary fundin¥ at the school. It 5% the intention of the GovernoY% subject to the appropriale authorisation, to irnplern¢n¢ a similar policy in future years to supplement the inv&%tment income generated frorn the finaneial inv¢%lmenLs and use these fiLnd5 for bursary sUPPOrt, Any material chan8c from the policy of only exp¢nsing mode%t amount. annually? from the T¢SPeCtiYe UTRS will nece8$itate the Oovernorn %eeking lega] advice, from the hool'4 wlicitor, that it is in the ￿st int¢re$L% of the Charity. 16 Regi%tered Company Number. 051421)07 Regislercd Charity Number. 1104425

Bristol Grammar School (A company lirnited by guarantee) DIRECTORS, REPORT (conlinued) for the year ended 31 August 2023 Reserves Polie ' The Gov¢rn¢)r8' Te¥erv￿poI1cY I￿ to produce Sufficient C&8h SU￿luSe8 of YnrG8tri￿d fLmds each year, w thatafter the add back of depreciation, the School generate8 Sufficient funds to maintsin and develop the Schry)I's facilitie8, equipmentand technology> to materially contribute to Bur￿ funding, to 5erYice any capital and inlerestpayment8 on outstsnding loans and to maintain a balance as a contingency. External borrowing 18 as and when nece85ary. for any material capitsl projects after the fornial approval of a busine88 plan by the GovernoTh The Govemors have pnthtly fixed the Tate of tntere8t on the Current bank loan for its terni whilst interest rates remained at a very low level. The School's unTestrictsd funds are deployed as pan of the Schwl's buildings and equipment in t8ngil)le fixed &￿et￿ In the absence of free reserves (unr￿trICted ftmds r￿t held in tangible fixed a￿ts) the SclM)ol's Governors ensure day to day wo1ing capitsl requirements are met by Carefi￿ management of its short terni liquid r￿Ources. The Governors consider that liquidity of a terni's working witsl requitrments would be desirable. Taking the SchiM)I's mly unrestricted operational ￿pendIture and after adding back the depreciation cost gives a larget for liquidity of around £6.5m. The Governors. ￿l1¢Y is, under norn￿1 economic conditions, to continue building up liquid reserYe8 Out of annual operatinLTr surpluses and unTestricted donation& subject to further necessary capitsl and plamed maintenance expenditure and provision of appropriate bursary support forpupils. Restricted and Endowment fimds are held in cash, promy and inve5ttnents. Capital and income from restricted funds aTe ahnost entirely restricted ￿ the fvnding of bursaries. Income from the Endowment fimds is ￿StrIcd to support bursary fi￿di￿ via the unrestricted fimd. Further detail on the level of reserves held is provided in relevant supportiniy not¢s to the Financial Statements. The balances are monitor￿1 Closely by the Board and are in line with budget￿ fore￿¢$. At 31 Augusi 2023 the reserves held by the School were unrestricted funds of £15,816,884 (including designat￿1 fvnds of £410,494), restricted funds of £2,401.320 and endowment funds of £18,580,319. Unrestricted funds include a tsngible fixed asset fund of £16J40,485 (the total book value ofunTestricted thngible fixed asse￿ held at that date) plusa general unrestricted fimd of £(934,097). 17 Registernd Company Number. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (continiied) for th¢ year ended 31 August 2023 How the Board cojn lie8 Its Section 172 Dut . Seciion 172 (1) of th¢ Companies Act 2006 (Stament of D]re￿or.5 Duties to SthkelK)Iders) requiTes dir￿l01$ io act in good faith to promote the suecess of the charity for the benefit of i¢5 members, and in doing so have regard (amongst other matters) to= the likely consequences of any decision in th¢ long temi" the interests of the charitable company's employe¢s' the need to r￿ter the charitsble company's business r¢lationships with pat￿￿ supplierJ, and others,. the impact of the th8ritable Con]p￿Y.S operations on the comrnunity and the a)vironmen¢ the desirability of the charitable companyrnaiti18ining a reputatiim forhigh stalldards of bu8inw ¢ond￿l 8nd the ne￿1 ts &ct fairly &$ between members of the charitable ¢ompany. As set out on pag¢ 12 within"Public Benefit" and on page 14 within "Community Invofvemenl- the School t as well as mat¢rial buT5ary support for pupils, developed links with a wide range of individuals and orgallisaiions to ensure the widest wssible accew lo the excellent educatiott that the Sehool delivers and. within the constraints of safrguaTding, the use of IL$ facilities by community groups and other user TheGovernors see the reenergised fundraising initiatives. driven by the Heathnaster and Director of Developmeni as an important strategic move in achieving the School's Mi&8ion: to provide an excepiional and rounded ¢th￿￿tion to thase who might benefit from it, re8ardJess of theiT background financial means. The School is proud to founder member the Bristol Educati¢)n PartneThhip which wag set up in 2019 with the aim of broadening young people's experience of education, opening up new opportunitiu and over¢oming disadvanthge. It is a ¢ollJborative arrangement involving six state secondary school& seven independent schoo]s, St Brendan's Sixth Fonn College, Uniyersity of Brisiol. University of the Wesi of England and Bristol City Council, w0￿1ng together to cnrich education and improve outC0rn%8 for children and young pe4)ple in the city. Pr(>je¢t4 events and activitiex are or8#nied in partr￿ship with a wide T8n¥¢ of oryanisations from across Bristol, givingyoung people acC￿S to the best thai our exciting and vibrant ¢ityha¥ to offer. A mimberof teacher network hav¢ been set wi to enable collaboratioll acros8 partner schools so that bes¢ Prnctice can be shared. The Sch￿1 community also undertakes a nwxiber otherinitiatives and volunt¢eTing to help wlth ￿al¢ infant, junior and lenior gchools in the area including tea¢h¢r training. Through membership of HMC, IAPS, AGBIS and ISBA 8nd through networking with peer groups we ensll￿ that we are able to attain the hi¥hest $tsndaAls of quality ond perf0M￿nce. The GovernoTh, Heathnaster and KMP in addition io the extremely imwrtani fows on the wellbeing and mentsl health of thc School's pupil% and their familie8, al8() treated the wellbeing of the teachin¥ and support staff as an absolut¢ priority. A pro¥ramme of mental health traitting 18 being undernken throughout the BGS staff body. Detai18 of how the School ha% engaged wtth employee￿4 and had regard to employee int¢Mts and employment ¢on4ultation can be found within"Employee Enga¥¢rnent" on pa¥e 13. The Govemors demortstra￿ thepTomotion and gu¢cess ofthe charlty for the benefitof thestakeholdetsthrough the "OperntiODal Perforn￿n¢t of the School" included within thi¥ Straiegic Report. The S¢hool bas continued. despite all of the challenges of the pandemic. to deliver high qualily academic educaiion as well as pistoral wellbeing support. throughou( and poqL the pand¢mic and the other Lhalleng&8 the indep¢nd¢nt sector educatio continu&4 to face. 18 Regi¥t¢red COmpa￿Y Number. 05142007 Registereil ChaTity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) DIRECTORS, REPORT (conlintsed) for the year ¢nded 31 August 2023 The Governors are responsible foT strategic pl&nning and wli¢irynaking for the SchtxTrl, in conwltation with thc Headmaster, and, accoTdingly> all key thision& refaTing to the current perfonnance, and the future l¢)nger-temi plans of the Charity and stskehold¢r4 are taken by the Board in consultstion with the HeadM￿er. The School is goyemed by the governing bTrJy (Board) which delegates work to a number of w￿￿Ittees. Men)bership of each commiltee 18 Outlined on page 2. Further infomation can be found in the "Operational Perforniance of the SCI￿01. and 'finaDcial Review and Results for the Yearf, within tbe Directors. Strategic Report. Streamilned Ener ' 14nd Carbon Re orti SECRI The School is pleased to reJx)rt its UK greenhowe gas (GHG) emissions and en¢rgy usage data for the year I September 2022 to 31 August 2023 togetherwith comparative figures. 21123 2022 Energy consurnption used to ¢alclllate emissions (kwh) SCO￿ l.. Emissions ill Th¢tri¢ tonnes C()2e Gas consumption Owned tran￿Ort- mini-buse8 and vans Tothl S¢ope I Scope 2: Emissions in metri¢ tottnes C02e PUwhh$￿ electricity Scop¢ 3.. Ernissions in metric tonn¢s C02¢ Fuel reimbursed for travel in employee owned v¢hicl¢s Total gro&s emi&gi(>n in metric tonnes C02e Intel￿1¢Y Ratlo: tonnes Cole per pupil based on Aulumn roll 3,949,S22 4.140,455 497.01 4.00 501.61 519.86 5.16 525.02 24&61 242.47 SJ9 753aO 773.08 .ss 0.57 Quantltlcadon and reportlng methodology The 2019 UK Government Environmental Reporting Guideline$ and the GHG Proto¢ol CoTwTrrdte A¢counling and Reporting Standard were followed to ¢nsur¢ the SECR requirements were rn￿. The energy data h&$ be¢n consistently collK*d from ¢neTgy tuet¢ring. supplier invoi¢e4 employe¢ repaymen¢ claims And minibus and van vehicle usage T￿OrdS. The energy data ¢onv¢rted to ¢atbon emissions using th¢ UK Government Conv¢rsion Factors for Comp4ny Reporting. Th¢ associat¢d ¢rnissions ar¢ divtded into the combu51ion of fue15 and the operation of facilitics (SGO l), purchased ele¢tri¢ity. h¢4¢ing and ¢ooliDg {Scope 2) and in41ireet emissions that occur 8$ a consequenee of School activities (S¢¢)p¢ 3). and electiicityconsurnption fell ID 2022-23 &sventilation measuresreducedand in8enerdl the school benefited 19 R¢g1St￿d CompaTJy NUm￿r. 05142(X17 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee} DIREcfoRS' REPORT (continued) for the y¢ar ended 31 August 2023 Mesures takell to improve and edu¢A¢¢ regardlD8 enerLv efficlency The S¢hool has installed smart m¢tm ￿rO&S the majority of its premis¢& Profe5sionai advice is oK>ught for any capital works or major refurbishment prOj￿ts to ¢J)sure environment regulations And improved insultaiion are thken into consideration and aPPTopria sustainable materials are used. Within the cot]straint of the School'$ site and the age of the buTlding8, including the listed status of material parts of the site: careful envir(mment81 ¢on8ideration is given for the rqjlacemcllt of items such as boiler8 and heating systems. Improved I￿￿Ulation 18 carrieAI oul wh¢re po￿]blE. The School has endeavoured to u¥e LED li￿ting systems where possible and h&8 undertakeTh a rolling programme of replacement across the School's estate. This policy is being ¢¢)ntinu¢d through the BGS estate. The great diversity of our School, and the provision of ¢(￿edUCatIon for 8 yeAr old% me4ns that children travel from ail across the city to attend BGS and ￿th]Ist we are fcKused on minimising travel by car. whenever that IS EX)Ssible, Lt is inevitable that for wme. given the diffieulty of using public transFKIrt to traverse the city a18 young age, there is no altematsve. The S¢hool has been awarded the bronT£ Modeshift STARS Regional Schools Travel Award. The School runs Eco Clubs both for the younger atsd senior pupils and alw l¢xsons are part of the cuThiculum lo ¢n￿re all children in the school have a good knowledge of detrimental irnpacts on the environm¢nL The school has recently received the Ew School Green Flag award, a result of the wo ofth&8e Eco Clubs. Staff have been en¢ournged th maximise their use of t￿hnologY and remote training opportunilies 10 reduce distanc&s tTavell¢d. 1'he school has repl￿ed two qupport staff vehieles, that were powered by diesel, with one electric van. BGS Iw rc8lStered with Let's Go Zcro 2023 - $¢hools woting together to reduce carbon and addre& climate Change. The Govemors and rn¢mber5 of the KMP have met with consultants during the year Tegarding the fomulation of the wh(K)I's ¢arbon reduction plan. 20 Regiqtered C¢)rnpany Number: 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) DIREcfoRS' REPORT (conlinued) for the ended 31 August 2023 STATEMENT OF DIRECTORS RESPONSIBILITIES The Gov¢moT4 (who ore also diwtorN of BTi8tol Grarnmur School foT the pU￿￿£S of COMp￿Y law) are responsible forpreparing the Dir#tors' Report (andthe in¢orporated Strategic Report) aThl the fmAncial 8tatemtht8 in accordance wtth applicable law aThd United Kingdom A¢¢ou#¢itig Standards. Company law requires the Direc￿￿ lo prepaTe fllwAcial statements for each financial year which give a and fair view of the slate of affairs of the charitable Company and the Group and of the incoming re80urces and application of Tex)urce4 including the income and expeNliluT4 of the charitsbl¢ Group for that period. ID prwing those fmancial statements, the Dire¢tor5 are requireil tts: seled suitable accounting pylicies and then apply IIM consistently. observe the methods and principles in the Charities SORP,. m¥k¢ judgements and e4imates thai aff r¢osonable and prndent,. stste wheth¢rappli¢able UK Acctsuntln8 Stllndkrds have been followed, subject t08ny materi&l d¢p8threg di8¢1osed and explained iti the fmancilll stsi¢ments' and prepare the financial statement5 on the going ￿nCern ￿1¥ unless it 1$ inappropriate to Presume that the charitable company will continue in business. The DI￿torS are Te8pon8ible for k¢￿ing prop¢r ac¢ountirtg rttordx which diselose with re&8onable a￿UraCY at atty lime the flnancial position of the charitable Company and the Group and to ¢nabl¢ them lo ensure thai the fmancial statements comply with the requirements of the Compani¢s Act 2006. They are a]80 responsible for safeguarding the assets of the charitable company and the Group atld hence for taking re&80nable steps for the prevention and detection of fraud and other iTTegulaTities. Th¢ Directsts eonfirni th4t they have eomplied with the duty in Aection 4 of the ChaTitie8 Aet 2006 to h8ve du¢ regard to the Charity Comrni88ion'8 generdl guidance on Public Benefit. The Directots hav¢ refer￿1 to th¢ guidance in the Charity Commission's gmernl guidan¢¢ on Public Benefit when reviewing th¢ &hool's aims and objectives and in planning the School'8 a¢tiviti¢s. In parti¢ular. th¢ Dir¢¢¢ors hav¢ cotLsid¢red how plannal tivili¢s will contribute to the aims and (}bi￿liVeS they hJv¢ s¢L al¢m nt t Dlid f Informatlon Itor The Direo¢ors who w¢r¢ in offi¢¢ on the date of approval of th¢se finan¢ial statements hav¢ ¢ollfM￿. as far &8 they ar¢ awaTe, that th¢r¢ 1$ no rel¢v8nt 2udit inforn￿tion of whi¢b th¢ auditor is unawwE. Ea¢h of ¢h¢ DI￿10 have confmed that Lhey have thken all of the steps ihat they oughi to have thken as Di￿¢t01¥ in oyder to make tILemselves aware of any relevani audii inf0m￿tiOn and kn estsblish ihat the AUdi￿r 18 aware of that Infom￿10 AUDITOR ]LSM UK AuditLLP has indicated its Willingn￿t0 continue in officeand will be reap￿inted atthe annual genernl meeting. The DiTe¢tors Report (and Inci)ryorat￿I Strategi¢ Rep)rt) was approved by the Board ¢)n 8 December 2023 and signed on its behalf by: Romesb Vaitilingam Dircctor 21 Regi￿tre4 Company Number.. 051421K17 Registered Charity Number. 1104425

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRISTOL GRAMMAR SCHOOL A COMPANY LIMITED BY GUARANTEE Opinion We have auditrd the financial statements of Bri8tol Grammar Sch￿1 (the 'parent charitable company,) and its subsidiaries (the 'group') for the year ended 31 August 2023 which compri8e the Consolidated Statement of Financial Activiti&s, the Consolidaityj and School Balance Sheets. the Con801idated Statement of Cash Flows, and notes to the financial statements, including signifi¢ant accounting policie& The financial reporting framework that has been applied in their preparation is applicable law United Kingdom Accowjting Stgnd8rds, including FRS 102'The Financial Reporting Standard applicable in the UK and Rq)ublic of Ireland" (United Kingdom Generally Acceptexl A¢counting Prnctiec). In our opinion the financial Btalemfflits: give a true and fair view of the stste of the group'8 and the parent chaTirable compony's affaits at 31 August 2023 ind of the group's in¢ominbi re¥ouTces and application of resources. including its. income and exp¢nditure, for the year then ended. have been PToperiy prcpared in ac¢ordance with United Kingdom Generally Accepted Accounting Practice. and have beets pr¢pared in Accord￿Ce with the Tequirements of the Companies Aci 2(K>6. B818 for Iwlnlon We ¢ondu¢ted our audit in accordance with International Standards on Auditing IUK) (ISAS (UK)) and applicable law. Our reypoJ]sibilities under those stsndards we further described in the Audil(Trr's res]x)nsibilitie6 for the audit of ihe financial Ntatements section of our rewrL We are indepeTJdent of the group and pareffl charitsble company in accordan¢e with the etbical requirements tbat ar¢ relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethtcal responsibilitieg in accordance with the8e r¢quir¢ments'. We believe that the audil ¢videncc we have obtsined is sufficitht and appropriate to provide basis for our opitiion. Conduslons relatlng to roncern In audilin¥ the financial statements. w¢ have concluded thai the trustees, u8e of the Boang concern basi8 of accounting in the prepar￿lon of the fman¢ial xtate]ncnt5 is appropriate. Based on the WOTk w¢ have perfornied. we have no¢ identified any material uncertainties relating to events or conditionb that. individually or collectively, may ¢ut $i￿1r]can1 doubt on the group's or parent choritable Company's ability lo continue as a going concem for a period of ai least twelve months- from when the fin&neial staiements Are authoriKd for i&gue. Our responsibiliiie¥ and the reqponsibiliti¢% of the ￿￿ste¢S with respKt to yoing conctrn are described in th¢ relevaut b¢¢lions of thiq rewrL Other IDformatlon The other inforn]ation compriseg the inforniation included in the Directors, ReFOrt othcr than the financial ¥tatements and ourauditor's report thetton. The ttu$leeb are ra%￿nSibl¢ for the other infoTmation contained within the DireLtoTh' Report. Our opinion on the financial stalements doeb not ¢over the other infomiaiion and. except t th¢ extent othenvise explicitly stated in our report. ive do not expre&N any f(trrni of a&8urance wnclusion thereon. Our respo￿1b11ity is lo read the other inforniation and. ill doing so. consider whether the other inforniation is maierially in¢onbistent with the fillancial stat¢ments 01 our knowledge obtained in the course of the audii or otherwibe app¢gr4 to be materially mi&%iated. If we identify %uGh maierial incoDShSten¢ie% or apparent material missthtement%, we Jr¢ required to deiemiine whether this give% to a material miRstatement in the financial %iakmeni8 themselv¢s. If.based on the ￿'Ork we have perf0rnie￿ we rotjclude thai there is a material misstatement of ihis other inforn)ati(Trn, Ive are requiroj to report tha¢ fact. We have nothing to rq)ort in this regard. 22 Re8lStered Company Number. 051421)07 Registered Charity Number: 1104425

INDEPENDENT AUDrroR'S REPORT TO THE IrfEMBERS OF BRISTOL GRAMMAR SCHOOL A COMPANY LIMITED BY GUARANTEE) Opinlfjns on other m4tttr$ pr¢s¢rlb¢d by the Comp4Dles Aet 20116 In our opinion, bwd on the WO￿ undertaken in the course of the audiL' the irtfomiatson given in the Direetors. Rq)ort. which in¢hthes the D]re￿or8. R¢port and the Sttxtegi¢ Reportprepard forthe purw of company law. forthe financial year for which the fll)allcial thtement8 are pr¢par¢d is consisteni with the finatt¢i•l staiemen¢% and the Directors. Rqxjrt and the Strdtcgic Rew)rt included within the Directors, Report have been ptrpared ID a¢cordance with appli¢able legal requirements. Matters on whith we are required to reptsrt by exception In the light of tbe knowledge aThd understanding of th¢ group and the p&rent eharitable company and their ¢nvironinen¢ obtained in th¢ ¢ours¢ of the audil we have not id¢ntifieil marial ￿l￿S￿¢¢M¢nts in the Directors, Report or the Strdtegic Report included within the Directors, liq We have nothin8 to report in ￿Spect of the followill8 matters where the C£smpanies Act require us to report to you if, in our opinion.. adequ4te a¢WUDting records have Dot b¢en k¢pt by th¢ parent charitable compatty. or r¢tsms ad¢quaie for our audit hav¢ not b¢en rx¢iv¢d frojn br4￿b¢S nol vi8Rted by us. or the parent cbarithble company financial stalemenLs atr not in agreement with the accounting records and ¢trtJin dis¢losures of trn$te¢s' remuneratson specified by law ar¢ not made. or we have not received all the infom)aiion and explanations we for our audil. Re8pon8lbllltle8 of trustees As explained more fully in the Statement of I'rustecs, reBponsibilitie5 set out on page 21, the trustees (who are also th¢ directors of the charitsble cornpany for the purtrf)8es of company law) are responsible for the preparation of the financial ststements and for being 5ati%fied that they give a true and fair view, Bnd for such internal control as th¢ trustees deterniine is nece&sary to enable tbe preparation of finAncial statements that are free frimi ma¢erial misstst¢men¢ wh¢ther due to fraud or error. In preparing the financial slatements, the twstees are T&sponsible for assessing the group's and pjrent d￿ritable company's ability to continue as a goiog concern, disclosing. as applicable, matters related to going concern and sing the going concern b&8is of accounting unle&q the InJst¢es eithcr intend to liquidate the group or parent clwitsble company OT to cease operdtions, or have no realistic alternative but to do so. Audltor's responslbilities for the audit of the financial statements Our objectives are to obtsin rnsonable assurnttce aix)ut whether the financial statements as 8 wholE arc free from material misstatemenL wh￿her due to fraud or error, and to issue an auditor's ryrt that includes our opinion. Reasonable a$ura￿Ce is a high level of a$8urance. but is wt a guarantee that an audit conductgs in accordance with ISAS (UK) will always deteci a material mis8tstement when it exist& Mi8stswnents can arise from fraud or errorand are Consider￿ material if, indiv1th￿1]y or in theaggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial Statements. 23 Registered Company Number. 05142007 Registered Charity Number. 1104425

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRISTOL GRAMMAR SCHOOL A COMPANY LIMITED BY GUARANTEE The eytemt to whlch the audit Ivas con$ldered elpable of detectlng ITregul4ritle& ID¢ludlng fraud Irregularities are in8tortces of t]on-compliance with law4 and regtslations. The objectiV¢8 of OUT #udii ar¢ ¢0 obtsin sutTicient appropriate audit evidence regallling compliance witb laws and regulations that hav¢ a dir¢¢t ¢ff#i on the detern]ination of ma￿1a] amounis and discloswe¥ in the fjnancial statements, lo p¢rfomi audit procedures to help identify in8tan¢¢s of non-compliance wiih other laws 8nd ttgulations that may have a Tnaterial ¢ffect on the financial statemenig, and to respond appropriately to identified or suspected non-complian￿ with laws and regulations identified during the audiL In relation to fraud, the objectives of our audit are ￿ identify and ￿￿88 the Tisk of mai¢rial misgtstement of the finaneial 8iatements due to frall￿ to obtain yufficient appropriate audii evidence rekyarding the &ssessed risks or rnaterisl misstaiement thie to fraud through de&ignin¥ and implementing appropriate r¢S￿￿se8 and io respond ppropri&tely to fraud or suspected fraud identified during the audit. l.lowever, it 1$ the primary responsibility of managemenL with the oversight of those charged with gov¢rnall¢e, to ettSu￿ that the entity's operatiOtt% are conductrd in accordance with th¢ provisions of laws and Tegulations aod for the prevention and detection of fraud. In identifying and &s$e￿ing risks of material missthtement in rew¢ of iTTe¥ular1U￿ including fraud. the group audit ellgagemenl ieam: obtsined Jn understanding of the natutT of the t￿tor, including the legal and r¢gvLlatory framework that the group and por¢nt charitAble company operat¢ in and how the group and parent charitable company are complying with the legal and regulatory framework,. inquired of manag¢m¢ni and those charged with governance, about their own identifi¢atson and a&ses8ment of the risks of irregularities, including any known actu81, suspected or alleged instances of fraud; discu&8ed mallers about nortrfompliance with laws and regulations and how fraud mighi ¢)wur inoluditi assessment of how and where the fin8nci81 statements may be su￿￿tible to fraud. As A result of the8e proceduTes we consider the most significant laws and regulations that have a direct impact on the financial statemenL8 are FRS 102, Charities SORP IFRS 102), Compwni&% Ao¢ 2006, Charities Act 2011, the paTent ¢h8ritsble cornpony'8 governing dwument and tax legislation. We perfornied audi¢ procedures to detect non-compliJn¢es which may have a material impact on the fjnancial Statements which in¢luded reviewing the financial $th¢ements includin¥ the TNstees' ReporL ren)aining alert to new or unusual transa¢tio￿8 which may not be in a¢¢ordance with the governing documents. inspecting co￿¥pondence with local tax authorities and evaluating advice received fttmi in*rnaVext¢rnal advisors. The most %ignificant laws and regulali(m% thai have an indirect in)pact on the financial s¢atem¢nts ar¢ Th¢ EducatLOlI {Independet]t ScliLN)I Standards) Regulationb 2014: Keeping Cbildren Safe in Education under $￿tion 175 of the Education Act 2002. and the UK General Data Protection Regulation (UK GDPR). We p¢rfornied audit pmeedure8 to inquire of mwcyement and those charged with gov¢mance whether the charilabk compatty is All compliance with the8e law and regulatio￿¥ and inspected corre8ponden¢e with regulatory authoritits. The group audit engagement team identified the ri%k of Tnana¥ement override of controls and ineome recognilion a$ the are&s where the financial 8latements were most suxceptible to ma￿[la1 mi%8tatement due io fraud. Audit procedurH perforn]ed included but were not limited to testing manual journal ¢ntri¢Is and other adjustments, evaluating th¢ busineks raiionale in relation to ￿l￿nIficant, unusual tTanba¢tion$ and Iransaeiions eniered inlo out8ide the nornittl couNe of business, Challen￿Ting jud¥ments' and esiimaie8 and perfomiing bubstantive test of detail% over a sample of donations, legacies, and other educational income. A ￿rther description of our Tespnn.4ibililie% for the audit of the financial Y￿leMenL5. is provided on the Financial Reporting Council'4 website at hti ..Ilwivw.frc.or i uklauditorlir¢s ibilitie%. This description forn15 part of our auditor's report. 24 Registered Compathy Number. 05142￿7 RegL8teral Charity Number: 1104425

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRISTOL GRAMMAR SCHOOL A COMPANY LIMrrED BY GUARANTEE of our report This rewrt is made $ol¢ly to the charitable company's memE¢rs. as a body, in awordance with Chapter 3 of Part 16 of the cornpani￿ A¢t 2006. Our audit wvrk ha$ tten undertaken w that we might state to the charitable company's memEws th08¢ matt¢rs we ar¢ requir¢d to state to th¢rn ID an auditor's report and for no other purp)se. To th¢ fulle4textentp¢nDitted by law, we do llot accept orassume resp)n8ibility io anyone otherthan the charitable company and the charitable company's members as a body, for our audit work for this report, or for the opinion5 we have fornjed. Eetky GaUagh£t KERRY GALLAGHER (S¢nior Ststyiory AuditQT) For and on behalf of RSM UK AUDIT LLP, sta￿tOry Auditor Chartered Ac£ountants Second Floor l The Square Templ¢ Quay Bristol BSI 6DG Date 18 December 2023 25 R¢gisi¢red CoJnpany NumbeT'. 05142007 Registered Numkr. 1104425

Bristol Grammar School (A company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 August 2023 Unrestricted Restricted Endowment Funds F￿ndS Funds Notes 2023 2022 INCOME Donatio￿4 and legacie 40,5S3 656,190 696.773 1,026283 Charitsble activities School fees Other educational income 18.616.687 {502.603) 109.113 18,114.084 17.041.950 109.113 101221 18,725.8(K) (SO2,￿3) 18223,197 17,143.171 Other Tradirtg Aetivities An¢i11ory trading income Rents and letting9 61.332 294,793 61J32 294,793 13,726 255,497 356,125 356.125 269,223 Investment iticome 715,082 40.577 755,659 562J22 Other th¢ome 13.5(K> 13.51K) 682 TOTAL INCOME 19,851,090 194.164 20,045.254 19,001,881 EXPENDITURE Cost of generating funds Charitable activitie 10 10 505.725 19,321.394 100,946 606,671 596,714 56,959 19,390,840 18,313,574 12,487 TOTAL EXPENDITURE 10 19.827,119 12,487 157.905 19,997,511 18,910,288 NET INCOMFI(EXPENDITURE) BEFORE INVESTMENf GAINS 23,971 181.677 {157.905) 47,743 91,593 losses on inv¢8lJnents (54,778) (61.885) {689.676) 1806.339) (652,4701 NET IEXPENDITUREVINCOME TratLsfer between fiEnd Gains on investrn¢nt properties {30,807) 150,0(X) 15,0(M) 119,792 1847,581) 1758,596) {560,8771 {150.0(M)) 30,000 45,000 68fy,314 NET MOVEMENT IN FUNDS 134,193 119,792 (967,581) (713596) 125,437 Fund balaftc￿ brougbt forward 21 15,fi8?,691 2,281,528 19,547,900 37,512,119 37,386,fj82 FUND BALANCES CARRIED FORW.4RD 22 15.816,884 2,401,320 18.580.319 36,798.523 37.512.119 The ￿leS on pages 29 tt) 49 form part of diebe financial statements. All of tlie Group's operation4 cl￿ed as continuing. 26 Regist¢r¢d Compally Number. 05142(M)7 RegL8t¢r￿ Charity Number. 1104425

Bristol Grammar School (A company lirnited by guarantee) CONSOLIDATED AND SCHOOL BALANCE SHEETS as at 31 August 2023 Group S¢h¢xTrl Not¢s 2023 2022 2023 2022 FIXED ASSETS Tangible &8sets Inv%8tments 17,429,941 17,613,080 17,429,941 17,613,080 20,418,602 21,294,386 20.418,602 21294,386 12 37.848.543 38.907,466 37.848.543 38.907,466 CURJiENT ASSETS Stock Debtors Cash at bank 2,132 792,034 624,337 795,794 671.904 5,621,192 6,161,266 5.530,384 6,070.354 13 6,414,437 6.787,735 6.326,178 6.742,258 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 14 {4.583.885) (4.805.550) (4.496,628) (4,821.075) CURRENT ASSETS 1.830.552 1.922.185 1.829.550 1.921.183 TOTAL ASSETS LESS CURRENT LIABILITIES 39.679,095 40.829.651 39.678.093 40.828,649 LONG TERM LIABILITIES Creditors payable &ft¢r on¢ year 15 (2.880,572) (3.317,532) (2,880.572) (3,317.532) ASSETS 36.798.523 37,J12.119 36.797.521 37.511.117 CAPITAL FUNDS Endownjents 18 18,580,319 19,547.900 18.580J19 19,547,900 INCOME FLTNDS Restri¢t¢d fimds 19 2,401,320 2281.528 2,401.320 2281.528 Unrtstricted fLuth 20 15,816,884 15,682,691 15,815.882 15,681,689 TOTAL FUNDS 22 36.798,523 37,512,119 36,797,521 37,511,117 The notes on pages 29 ￿ 49 fonn part of the8¢ fmancial slatements. Approv￿ by th¢ Dire¢¢ors and authorised for issue on 8 DccetDber 2023 and signed Dn th¢ir behalf by.. Romesh Vaitilingam DircctOT 27 R¢gist¢r¢d Company Numbu: 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS for the year ¢nd¢d 31 August 2023 Note5 2023 2022 CASH (oufFLOWyINFLOW FROM OPERATING ACTIVITIES 23 (35.678) 1,241.820 CASH FLOWS FROM INVESTMENT AcrIvrrIES Inve8tment income Payments to acquire investments Receipts from sales of investments Payment to acquire tangible fAxed 8S8ets 755.659 562,522 (315.088) {217,319) 328587 173,971 (800.624) (271.101) NET CASH (oufGOINGyARISING FROM INVESTtNG ACTIVITIES (31,466) 248,073 FINANCING ACTIVITIES Payments to repay bank loan Infrrest paid (419,386) (407,735) (53,544) {65204) NEf CASH USED IN FINANCING ACTIVITIES {472,930) (472.939) (DECREASE)IINCREASE IN CASH (540,074) 1.016.954 CASH AT BEGtNNING OF YEAR 6,161266 5,144.312 CASH AT END OF YEAR 5,621,192 6.161,266 ANALYSIS Ofr NET DEBT A58t I S¢pt 22 OtheT ntTr C¥sh-flows cash change8 Asat 31 Aug23 Cath at bank 6,161266 (540,074> 5,621,192 6.161266 1540,074) 5,621.192 Bank LoaT] falling due within onc year Bank Loan falliTJ¥ due after more ihan one year (419399} 11,681,492) 111,866) 431252 1431,265) {1,250,240) (2,100,891) 419.386 11,681.505) Total net cash 4,060,375 (120.6881 3,9J9.687 28 Registered Company Number. 05142007 Re¥i%tered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 August 2023 GENERAL fNFORMATION Detsils of the School's inco￿Oration and place of business are given in the Director's Report. The group consists of Bristol Grammar School (including'linked charities'y and BGS Enterprises Limited. BASIS OF AccOUNT￿G The8e financial statements have Eten preyared in ￿¢￿ce with Accounting and Reportltig by Ch*rilies Recommende4J Practice applicable to charities preparing theiT accounts in accordance with FRS102 'The Financial Reporting Standanl applicable in the UK and Republic of Ireland, ('FRS102') and the requirements of the Companies Act 2(M)6, and under the hiytorical cosl convention. M￿￿tfied to include the revaluation of freehold proixrties and to include investment pwies and certain financial instnun$3nts at fair value. Golng Concern Pupil recrnittnent in 2022-23 was very good and the intske in 2023-24 is at a record high. Fees colle¢tion for the year bas also been good. Emphasis on etyiciencies and cost savings contit)ue4 whilst n￿1n￿1nJtsS the priority of deliwing a first -class education and pastoral support for all pupils. Budgets for 202>24 and 2024-25 including Income and Expenditujr Accounts, Balance Shcet5 and projectcd Cash Flows have been drawn up PA￿entlY tskin8 into consideration the impact of the currtnt inflationyry period both on the School and many of the f8milic5 who have been impacted within tlie BGS community. The Cash Flows contsin a contingency amount as a buffer againsi any fall in pupil numbers or uJJfor¢seen expendithrt and the School's Balance Shed remains strong. The bankbalance at 31 August 2023 was strong reflectin8 thegoodcost control and fees colltttion. TheHSBC Bank covenants, in relation to the PAC Bank Loan. were p8&8ed at 31 Au8usI 2023. The Dirtttors are therefore content that it is appropriate to produce the Financial Statements on A Going Concern Basis. REDUCED DISCLOSURES In accordance with FRS 102, the School has tsken advantage of the exemption from the following disclosure quirements; Seclion 7 'Stht¢ment of Cash Flows.. School only stalemenL Section I I 'BaBiC Financial Instruments, Section 12 '0ther Financial IrLstsiunent Issues,. Section 33 'Related Party Di%losures' _ key management personnel remuneration. PRNCIPAL ACCOUNTING POLICIES (a) Fees and similar ineome Fees receivable and char8¢s for 5crvice5 and use of prerniscs are accounted for in the wiod in which the servicc 15 provided. 0>) AdvAn¢e Fee Scheme The School operd¢es an Advance Fee Scheme for par¢Dt$. Each a￿angement is in respect oran agtred amount to be Credited against future fee bills for an agreed number ofiern)s. lkne unused balance of the advance is rq)ayable up)n request. Figures for advanced fee payments atr detailed in note 16. 29 K￿lstered Company Numb¢r.' 05142007 Rggislered Charity Numkr". I IOH25

Bristol Grammar School (A company limit￿ by guarantee) N(yfES TO THE FINANCIAL STATEMENTS (continiied) for th¢ y¢ar ended 31 August 2023 PRINCIPAL ACCoU￿￿NG POLICIES (continued) (c) Ac¢ept•n¢e d¢poslts Ac¢eplan¢e d¢posits are paid to the school to 3¢wre a place for the child at the School. D¢posits held forni part of th¢ bFenetxI funds C>f the School until the child leavcs the School at which poitit they are credited without int¢resl to the fll￿1 payment of th¢ fces or other sums due to the Sch(xTrl. Deposits ar¢ held at creditors on the balance sh¢et and are cla￿lfIed as owing withiti one year and over one y¢aT based on when they are expected ¢0 bc creAited a88it)st income. (d) DonAtlon5 and fynd #tcountitig Income from donati¢)ns and le8acics are accounted for 85 and when entitlement arises. the amount can be reliably quantified al￿ the economic benefit ts the School is CO￿%￿der•I PTobable. Donations received for the 8cnerdl puryws of the School are included as unrestricted futtd& Donations restricted by the wishe5 of the donor OT the ternis of an Appeal are taken to restricted futtd8. Donations required to be retained &s capital in accordance with the donor's wishes are accounted for as endowments- pumanent or expendable a¢￿ding to the natLtre of the restriclion. (e} Government gTaDts Government grants aTe recognised at the fair value of the ￿$¢1 received or receivable when there 18 r¢asonable assurance that the grant conditions will be met th¢ grattts will be receive 10 ExpeDdlture Expenditure ig accounted foron an ttcernals ba815. Overhead Hnd oiher ctibts not directly attributable to particular functional a¢tivity categori¢s are ap￿rtiOn￿ over the relevant Ca￿OrieS on the ba818 of management eqtimates of the amount attributable to that activity in the year either by reference lo toff time or space occupied, a8 appropriate. The Irr￿0Verablc cl¢m¢nt of VAT is included with the Etem of expe￿8¢ to which it relates. Support costs eompri8e the COSL8 of rumiing the clwiiy excluding diTe¢tly related kn education, including overheads and mglinienance of buildingg. It also includes cx¢ernai audi( legal advi¢e, inguraA¢e and all the coqis of complying with con%liNtion41 and statutory r¢quir¢ments, such as the CO8ts of preparing statutory accounts and satisfying public accountabiiity. (8) Tanglblt flxed 888ets Fixed as¥ets are ineluded in the financial slatementy at their ori&>inal Cosi les5 d¢pJE¢iaiion. New buildin&4, major improvements and extenioA]s are capitali￿d a¢ th¢ir wi¥in81 cost. Furni￿re and equipmentaequired fornew buildingb, major improvements and ext¢ll¥iQJ]b ar¢ ¢apiialised at their original Cost. A88ety below £500 are noi capitalised unle&s fomiing parl of a larger rapital projecl. Depreciatiott is provided on freehold iwilding$, ¢xeept for inV￿￿ent pr(w¢rti¢s 50 45 to write off the co4t estimated residual value over the usefijl life. Depreciation wiod5 range from 5 to 80 years . Only the School'q Perforn]ing Arts Centre which was Completed in 2016 is being depreciated over 80 years. Land is not depreciated. The u$eful economic liv&4 0(￿h ￿8¢¢ is regularly trviewed by the Bursar and Director% and adjusted wher¢ approptiate. Co%ts of repair8 and maintenance are Charged against revenue in the year in which they Jr¢ incunyd. A¥seL$ under conthction are depreciated once th¢y ar¢ brought into operational us¢. Depreciation on other tan¥ible fixed asset¥ has been ¢alculated ￿ as to wri* off the cost of thege a￿et5 over their ¢%%imated u¥eful life follows.. Fixtuyes, fittingb and equipment - 3 to 20 y¢ar8 30 Re&> j.8tered Company Number. 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FtNANCIAL STATEMENTS (contint4ed) for the year ended 31 August 2023 PRINCIPAL ACCOLfNT]NG POUCIES (continued) Ih) Investment8 and lttvestment Inetsmt Investment Properties are initially measured glt cost and subsequently measured at open V￿￿e as es11n￿ted by the Governors. FixedAssei Investmentsare included at theiTmid-maJkntvalue ai the balancesheei da*. Any surplus ordeficit oll revaluation is tsken ￿ the Sthtement of Financial Activities (SOFA). InveS￿en1 income 18 xcounted for in the per1￿j in which the Charity it4 entiiled to r￿cipt. The S¢lKX)I has elected to hold ils investments in subsAdiaTies at cost le￿ any impainnent losses. (i) Total return ae¢owithi8 The School passed a Te¥olution on 23 June 2023 to thpt the use of total return in relation to its pem)anent endowment. This pernlits the Trustee to invest pernlanent endownents to maximise total Teturn and to apply an appropriate portion of the unapplied totsl return to income eacb year. Until this power is exercised the total return shall be an Imapplied (otsl [t￿rn, {UTR) and remain Ls pan of the pernianenl endowment. The School has used a valuation dat¢ of 31 August 2022 to calculate the initial value of the ufR to be available endowment fund. The Charity Commission gives the School discretion Oll how to deterniine the value and after taking Professional advice it was agreed? given the difficulty in tsxcillg the value of investsnents over an historic period and confirn)ing the original endowm&)t values, to ke the total value of capital gains over the previous eleven yeaTS (excluding direci holdings in investment PTopertie6) and reducing this by an annual inflationary adjustmenL The trnstees have the power to de¢ide in each year how much of the UTr is transferred to income funds and so a￿lIable for expenditure. Having considered their obligations to make decisions as to nol prejudice the School's ability to further its purposes now and in the ￿tUre, and afier consideration of b¢nclunark total retums 1¢ was agreed to transfer £150.000 of unapp11￿ total relurns to unrestricted funds for the year to 31 Augu8t 2023. ti) Financ¢ and operating leases Rentals applicable to operdtirtg leases are charged to the SOFA over the peri￿ in whi¢h the cost is incurred. Assets purchased under finance lease are eapitalised a8 flxed assets. Obligations under such agreernents are included itt creditors. The difference between the capitslised c05t and the totsl obligation underthe le&se reprc8cnL% the fiftancechaT8e8. Finance charges arewrÉtten-off tothe SOFA over the pcri(xl of the le￿e 50 a5 to Pr{￿uce a con51artl periodi¢ rnte of cbarge. {k} FlnancW Instruments The Sch(x)I has eleeted kn apply the provisions of Section I I 'Basic Financial ItL8truments' and Section 12 '0ther Financial Instrnments 1&8ues' of FRS 102, in full, to 2110(its fin8n¢io1 instruments. Financial assets and financial liabilities are rc¢ognised when the School be￿Me8 a paty to the contractual provisions of the iDStnynenL and are off$el only when the School currently has a legally enforceable right to set off the recognÈ8ed thDounts and intends either to 8ett]e on a net basis, or to alise the asset and settle the liability simultaneously. Financial assets Debtrrs rcc¢ivable within one year do not constitute a financing tranKacti¢)n. They aTe initially measured at the transaction price and subsequently measured a¢ amortis¢d cosl, being thc transaclion price any amounL% sett]ed and any impairnient lo￿￿. 31 Registered Company NumbEr'. 05142007 Registered Charity Number. I1(14425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 August 2023 PRINCIPAL ACCOUNTING POLICIES (continued) Ik) Financial Instruments (eontlnued) Financial liabilitie8 Creditors, trade and oth¢r. payable within one year, that do noi consti￿te a fll]an¢ing transaction are initially me&8ured at the transaciion price and subsequetsily measured at amorti5¢d wsl, b¢ing tr8n.$8ction price le￿ any amounts s¢ttled. (i) Pellslon Schemes Retirement benefits to employees of the School are provid¢d by the Teachers, Pension Scheme rps,). the Aviva Pension Trust for Indwdent Schools {Avfis) The People's Pension. The TPS is a defiDed b¢n¢fit scheme, and the a￿ets are held separately from those of the School. The TPS ig an unfunded sch¢me and contnbutions are ¢al¢ula*d so a5 to spread the Cost of pensions over employees. working lives with the School in such a way that th¢ tension cost is a sub8tsntially level percentage of cumt and fvIU￿ pensionable payroll. The contributions are deterniined by the Government Actuary on the basis of quinquennial valuations using a prospective benefit method. As tated in note 25. the TPS is a rnulti-employer scheme and th¢ S¢hool is unable to identify its share of the Lmderlying assets and liabilities of the ￿h¢me on a consislent and reasonable basis. The TPS is therefore treated as a defin¢d colltribut1￿ schcme and the contributions recognised as they are paid ¢ach year. The School provided teaching staffwkth analtenjative relirement benefits scheme from January 2023. Avfis is a defined contributson scherne which is designed ts) give teaching staff greater flexibility ov¢r the level of employer and ¢rnployee contributions and tsk¢ home pay whilst continuing to provide anci]lary benefits simi]ar to the TPS. Th¢ ￿h0o] provides retirement benefits for sUPlXTrrt Itsff with The People's Pensiort. It IS o defined contribution Maglel Trnst multiryemploy¢r Scherne. For the defined contribulion ￿betneS the amountcharged to the SOFA irt respect of pension COSL8 and other post-rctiTement benefiL8 1$ the contributions payable in the year. Differencas between ¢onrribution5 payable in the year and wntributions actually paid are shown as either other creditors or pr¢paymenls ID the balance sheet. til Crltlcal Acco￿ntIng Estimate5 and Judgements The Group makes &stimatt8 and a&qumptions b&scd ort hisiorical eX￿rienCe attd what 18 reasonable under th¢ circumstance% regarding the ¢xpectati(m of future events. Actual results may differ from these estimates. 1.he e5timatw and underlying a&fumpti(>ns aTt reviewed on an ongoing ba¥i%. Exampl£s of accounting eslimai&% includ¢ &%8Nsittg the u8eful economic lives of land and buildings and other ￿￿￿et5 taking inio consideration all matttts which may affect thiB and the provision for doubifvl debts. The Directo￿ G8timate the market val￿¢ of investm¢nt propety at 31 August 2023 using appropriate assurnplions afjd art a&%essment of the local market for %imilaT prry)erry. 32 Regi$ter¢d Compally Number.. 05142007 Regi¥i¢r¢d Chariiy Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (conltnued) for the year endcd 31 August 2023 PRINCIPAL ACCOtrNT]NG POLICIES (continuedl (m) B￿15 of conBolldatlon These financial statements consolidate the results of the School and its subsidiary BGS Enterprises Limited on a line by line basis using acquisiiion accounting. The School has taken exemption from presenting its unconsolidatsj profit and loss account Lmder secuon 408 of Companie¥ Act 2006. The School's own income for the year was £19,852,494 (2022.. £18.857,628) and net deficit for the year was £758.596 (2022.. £560.877}. These financial Statements algD include the as8et& liabilitie5 and results of the Bristol Grammar School TNSU a registered charity which holds perniallenily endowed assets on behalf of the School. Under a Chariry Commission Scheme dated 31 August 201M. the Company 18 Elso the Trnstee of another separate chaTity called Bribtol Grammar School ScknlaT8hip, Bursary and Priy£ Fulld whi holds pernunentiy oldowed funds received for scholaYshtp4 buTsaTies and prizes. On 12 August 2005, the Charity Commission made a Uniting Dijrction ujthr section S.96(51 of the Charities Act 1993, directing that these chorities ("the linked charities.) should be treated as forrning part of the charity called Bristol Grammar School for the purposey of Pall Il (registration) and Part Vl (accounting) of the Charities Act 1993. The main effect of the Uniting Dir#tion ig that the linked charities are ag&Fregated inkTr the Statement of Financial Activities and the Balance Sheet of th¢ Company. They remain, however, leEally distinct charities, the funds of wbich aro to be applityj solely in accordan¢e with their respective ttwts. BGS Enterprises Limit￿1 hires the facilities of the Sports HEII, 3LT Pikh, Gtrat Hall and PcrforJnitt8 Arts Centre for ¢¢)mmunity use and otlw room lettings. BGS Ente￿iseS Limited is cotknlled by the School as it 18 the 801¢ shaTeholder. The results of BGS Enterprises Limited (company number 2630377) were &8 follows:. 2023 2022 Turnov¢r Expendilure 296,398 (268,779) 255,576 {218,391) Profit for the year 27.619 37.185 2023 2022 StocL debtor8 aDd cash ai bank Creditor¥ 154,146 (153,144) 123,654 (122,652) Net &￿eL4 1,002 1.002 33 Registered Company Number.. 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the y¢aT ended 31 August 2023 DONATIONS AND LEGACIES Unrestricted Fund¥ R¢stric*d Endowment Fund$ Funds 2023 Totsl 2022 Total Donations Leg￿1¢¥ 20,702 19,881 656,190 676,892 19,881 884,417 141,866 40,583 656,190 696.773 1,026283 SCHOOL FEES RECEIVABLE 2023 2022 Fee$ re￿ivable 20J21.330 19,026,393 ScholaTships School a￿lsted place$- bwsary fvnding Stsff fee discounts Sibling discounts (411,917) {405.511) {1236,358) {1.023,548) (347,587) {338,438) {211,384) (216,946) (2,207,246} 11,984,443) 18,114,084 17,041,950 S¢hol8t¥hip% are awarded on m¢rii and assisted places are a¥s¢s%d by reference to parents, income amongst other ¢riteria. 34 Re¥]￿tered Company Number.. 05142007 Regi¥tered Charity Nwnber: 1104425

Bristol Grammar School (A company limited by guardntee) NOTES TO THE FtNANCIAL STATEMENTS (continued) for the year ended 31 August 2023 OTHER EDUCATIONAL INCOME 2023 2022 Sundry income Catrring income 51,343 57.770 46.777 109.113 101,221 INVESTMENr tNCOME UnrestTiCt¢d Funds ReslTi¢¢ed Funds 2023 Tothl 2022 Total Endowment rentsl inconhe Endowment investsnent income Bank interest r￿e1Vable Other Funth Investment Income Endowan¢nt interest 309,598 174,408 227.922 309.598 198,096 227.922 16.889 3.154 312,375 199,402 33,010 17,431 304 23,688 16.889 3.154 715,082 40577 755.659 562,522 OTHER INCOME 2023 2022 Govcmm¢Dt gr8nt in¢om¢- COV1L>19 fiwlough ￿h¢rn¢ Lo¢al Authority grant income- Homes for Ukraine 682 I3￿00 35 Registered Company Number. 05142007 Regi¥t¢red Charity Numlw.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (conlinued) for the year endol 31 August 2023 10 ANALYSIS OF LYPENDITURE Stsff Cost8 Depreciation Total 2023 Totsl 2022 Other Costs ol generatlng funds Fundraising Costs Fundraising- ￿dIng Finance cost$ Invest￿ent management 152,790 144,814 64.137 47,947 96,037 100,946 216,927 192,761 96,037 100,946 230.534 144.255 115.470 106,455 297,604 309,&57 606.671 596,714 ChaTItAble ACti￿tieS Teaching Welfare Premises Support cosls of ￿hOOling 11.436299 597.404 567,998 1,3(Jl,878 1,074,640 424,055 2,039,370 796.861 12,510,939 ,021,459 3,699,703 2.158.739 11,765,644 881,632 3,723,462 1,942,836 .092.335 13.963.579 1.092J35 4,334.926 19,390,840 18J13,574 Total expenditure 14.261,183 1.092J35 4,643.993 19,997.311 18,910,288 sUp￿rt costs of schooling compri8e.' 2023 2022 Governance ro$ts ICT co8ls Mat*eling and admissions Admin, finan¢¢ and PAC salaries Stsff recNitm¢nt Stationery, p)stag¢ ond t¢lephone Other 90,659 425,040 438,951 1.041,790 49,600 37,041 75,658 92,016 352,997 343,541 973,050 49,541 32,797 98,894 2,158,739 1.942.836 36 Re¥iqteTed Company Number. 05142007 Re￿I￿tered Charity Number.. I l(M425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year end￿ 31 August 2023 10 ANALYSIS OF EXPENDITURE {continued) 2023 2022 Sthff costs comprise: Wages and salaries Social security costs Pension cosls 11,048.855 .141.847 2,070,481 10,3W,069 1,077.340 1.873,242 14261,183 13,341,251 Included above are staff eo8ts reknting to the subsidiary of £144,814 (2022 £102251) 2023 2022 Ag8regate employeewbenefits of key mana8ement personnel 1,280.153 1,196.486 Staff with emoluments in the range: £60,001 to £70.0(H) £70,001 to £80,0(x) £80,001 to £90,0(KJ £90,001 to £lOO,000 £140,(￿1 to £150,000 £150,001 to £160,000 £170,001 to £180,(KK) £180,001 to £190,(MX) 2023 10 2022 The average number of staff employed during the year.. Teaching Premises Support Welfa 198 16 51 35 17 52 33 301 3(X) Included the number of support staff is one etnployee of the sub¥idiary. The Govemors did not receive any remuneralion from the Schwl durinli the ￿lod (2022.. nil). One Governor ¢laimed £281 of travel expenses during the year (2022: £260). Athnini5tratioD Costs include.. 2023 2022 Auditor's remuneration for the audit of tbe financial ststements for the audit of the subsidiary financial st&temEnts for t&x compliance and advlsory 25.476 6,356 1,980 23,160 5,778 5,790 Operating lease costs.. other 307,268 231,500 Financing costs comprise: Bank interest and other charg&8 Fee deposit discount 59,861 36.176 70.606 44,864 96.037 115.470 37 Re8iStered Company Number. 05142(K)7 R¢gis¢ered Charity NU￿ber. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 August 2023 TANGIBLE FIXED ASSETS GROUP Assets in the Fre¢hold Course of Land and Construction Building$ Fixtures Fittin89 Equipment Total COST At I September 2022 Additions Disposals 29.519.154 461.650 2.137J65 89,997 (17.619} 2.523,458 34,179.977 256,489 909.196 {39,206) {56.825) 101,060 At 31 August 2023 101,060 29.980,804 2209,743 2.740,741 35.032,348 DEPRECIATION At I September 2022 harge for the year Disposals 13,459,530 754,449 1559.780 163,992 {17,619) 1,547,587 16.566,897 173,894 .092,335 (39,206) (56.825) A¢ 31 August 2023 14,213,979 ,706,153 1.682275 17.602,407 NET BOOK VALUE At 31 August 2023 101,060 15,766,825 503,590 1,058.466 17,429,941 At I September 2022 16,059,624 S77￿85 g75,871 17,613,080 SCHOOL ONLY As*ts in the Ftvhold Land and Buildings Fixtures and Fittings Constrnctio Equipment Totsl COST At I S¢pt¢mber 2022 Additions Disposal¥ 29.519,154 461,650 2,136,255 89,997 {17,619) 2.523,458 34.178,867 256,489 909,196 139,206) (56,825) 101,060 At 31 AUg￿￿t 2023 101.060 29,980,804 2,20R,633 2,740,741 35,031.238 DEPRECIATION At I September 2022 ChaTg¢ for the year 13,459,530 754,449 ,558,670 163.992 117,619) 1,547,587 16.565.787 173,894 1,092,335 1392061 (56,825) At 31 August 2023 14,213,979 1.705.043 1,682275 17,601,297 NET BOOK VALUE AI 31 Augw8t 2023 101.0fi0 15.766.825 503,590 1,058,466 17.429.941 At I September 2022 16,059,624 577.585 975,871 17,613,080 38 R¢gist¢r¢d Company Number. 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENfs (continued) for the year ended 31 August 2023 12 FIXED ASSET INVESTMENTS Investment Properties Investmen Total GROUP AND SCHOOL Market value at I September2022 Additions (including reinvethd investtnent iticome) Disposals Manag¢ment fee 5.840.1XK) 15,454,386 315,088 (328,587) (100,946) 21,294,386 315,088 (328,587) (100.946) Movement on r¢valuation 45.OCKI (806.339) (761.339) Market valu¢ at 31 Augus¢ 2023 5.885,(XM) 14.533.fI12 20.418.(￿2 Historical eost 2,741,707 6,258.610 9.(MK),317 The investsnent properties were valued on an open market basts in September 2023 by a Governor. WI￿ is a member of the Royal Institute ot'chartered Surveyots. Investments eompri8¢: 2023 2022 Equities and unlt ts￿8($ The Charities Prop¢ty PooleAi Fund Cash held for reinvestment 13.294.407 808.793 430.402 14.129,888 960,083 364,415 14,533,602 15,454,386 Investsn¢nts includ¢ a IIK)•/4J knlding in BGS Ent¢ipiis¢s Lid see pag¢ 31. 13 DEBTORS School 2023 2022 2023 2022 Due within one year.. Fet8 Other debtors Amounts owed by group undertakings 102.819 608.094 79,292 453285 102.819 545,907 65.887 79,292 422,675 78.177 710.913 532.577 714.673 580.144 Due after one year. Advance fee discount Other debtors 76.135 4.986 82.574 9.186 76.135 4.986 82,574 9,186 81.121 91,760 81,121 91,760 Total debtors 792,034 624,337 795,794 671,904 39 Registered Company Number.. 05142007 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FtNANCIAL STATEMENTS (continued) for the ear ended 31 Au st 2023 14 CRED￿Rs School 2023 2022 2023 2022 Amounts fallin8 due within one y¢ar'. and social Seeurity Pension Trade creditows Sundry creditors and a¢en￿lS Fees in advan¢e Deposits Bank loan 286.971 235.687 493.995 608,254 2,490.286 37.427 431,265 281.696 228,541 487,131 565,583 2,817,732 65,468 419,399 282,148 235,687 493,101 526,714 2,490,286 37,427 431.265 276,873 228,541 487.131 525,931 2,817,732 65,468 419.399 4,583,885 4,865,550 4,496.628 4,821.075 15 CREDITORS Group School 2023 2022 2023 2022 Amounts falling du¢ after one year. Fees in advance Dep)sits BaTJk loan 1.185,843 444,489 1250,240 ,279.858 356.182 1,681,492 1,185,843 444,489 1.250,240 1.279,858 356,182 1.681,492 2,880.572 3,317.532 2,880,572 3,317.532 Bank Loan repayments are due: Within I lo 2 year4 Within 3 to 5 years 443,129 807,111 431,256 1250.236 443.129 1107,111 431,256 1,250,23 The interest rate cl)arged on the Bank tA)art is r￿ed at 2.820/•. The remaining balAnce is repayable over 3 years and 9 months. HSBC Bank plc hold a Firstl￿gaI Mortgage over the following fffehoid proj￿rtIeS as g£curity for theirloon to the School.. NumbeTh 1, 3, 4, 5. 7, 8 bTKI 9 Elton Road, Clifton. Brixtol, 8 Elmdale Roa<L Clifton. Bristol and Units 7-10 Eas1￿ Wood Bu8inw8 Park, Bradley Stoke, Bri8tol. 16 ADVANCE FEE PAYMENTS Advance fee payments Includ￿ within eredilors compri4e amounts due: 2023 2022 Within 2 to 5 year8 Within I to year4 754.989 430.854 797,191 482,667 1.185.843 888.132 .279.858 1,007.521 Within l year 2,073.975 2 ?87.379 40 R¢gi%t¢r¢d Company Nurnber: 05142007 Registered Charlty Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 August 2023 16 ADVANCE FEE PAYMENTS (¢ontinued) The balallce represents the a¢oued liability under th¢ ¢ontro¢ts. The mov¢m¢nts during the ye4r w¢￿. 2023 2022 Balance as at I September 2022 New contracts Amounts acen￿d to Co￿traCts 2287,379 1,042,027 25.252 2,428.153 1,094.739 16,321 3,354,658 3.539213 (1,280,683) (1,251,834) Amounts Utilised iti payment of fees Balance at 31 August 2023 2,073,975 2287.379 17 FINANCIAL INSTRUMENTS 2023 2022 Financial assets.. Instrum¢nts m¢asured at fair valu¢ through n¢1 income I4￿33,602 15,454,386 18 Totsl Trnst for investsnent Totsl unapplied totsl retsrn 2023 Total Total endowmem endowment 2023 2023 2022 As at I September 2022 (valuation date for Total Rebjrn accounting) 15,301,827 4,246,073 19.547.91M) 19.587,966 MOv￿¢￿ts in the r¢porting perlod: Depreeiation of endowment propenies Reall￿ and U1￿]]￿a {lo¥sts) and gaiJLg investment management costs (56,959) 30.IN)O (56,959) (659,676) (100,946) (56,962) 123.351 (106,455) (689,676) (100,946) (26.959) (790.622) (817J81) {40,066) Unapplied tothl reumi allocated to income (150,000) {150,000) Balance at 31 August 2023 15274.868 3.305,451 18.580J19 19,547,900 The majorlty of the School's Pemianent Endowed fund8 are held in a balanced p)rtfolio of inve8tments with the objective to enhance the real value of the ¢apitsl inv¢s*d whi]st al80 produ¢ing an appropriate level of income to maintain the Sch(x)I's commitment to provide as$istan¢¢ witii fe&$ for those pupils who would not othetWi8e be able to attend BGS. 41 R¢gist¢red Company Numb¢r". 05142007 Rcgistered Charity Numkr.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS {conlinued) for the year end¢d 31 August 2023 18 ENDOWMENfs (continued) Endowmentfunds include£4.990,000 (2022.. £4.960,000) of endowm¢ntprop¢rty, includedwithin fixedassets itivesthients, held by Brislol Gr8mTnar Sch￿1 Trt￿t a linked cljarity and £1.191,185 {2022: £1241,718) of 8cholarthip, bursary and prize fund8 held by Bristol Grammar School Scholar¥hip, Bursary alld Prize Fund, linkd ¢harity. As s¢t out in accounting policies 4(i). th¢ S¢h[￿l adopted total return ￿￿ntIng durin8 the year and the unapplTed total return valuation date of I September 2022 and starting value w&s as approved by Board Te501utiOll on 23 June 2023, The calculated unapplied total return Compri￿ gain5 attributed to the invested pemianent endowment portfolio, managed by independent investmeR¢ manag¢rs, and excludes gains and los￿8 on endownent property. The btarting unapplied total rEturn is £3,775,816 for the Bristol Gt￿llmaT School TnL4t and £470,257 for the Bris￿] Gramjnar School Scholarship, Bursary and Priz¢ Fund. The total unapplied total return8 at 31 Augu$t 2023 are £2,885.726 for Bristol tirammar School Trust and £419,724 for the Bri$tol Grdmmar S¢hty)I ScholaTship. Bursary and Prize Fund. Included within fi￿d$ are cumulative unrealised gains of £l1,419,OIM) (2022: £12.180.000} arising on the reval¥Jation of all fixeAI a&8et investmen 19 RESTRICTED FLfNDS GROUP AND SCHCK)L The funds. brought fonvord compTise the unexpended bajances of donations and grants held on lrnsts to be applied for specific purpoqes. Balanc Y4t ISep22 Fees A&%istance Donation Exp¢nditw¢ Invtstment Income InLome ¥NI (los*s) Balance asat 31 Aug23 1,357,724 359,535 6,753 0,649 (389,430) (31,516) 558,704 {17.133) 112,950) 1,509,865 315,069 7,653 2J,580 Mr Winx¢r Bur Building Copital Campai¥n John James Foundation Pople Charitable Trust David Higson David Godwin Rev. DT. J Scott Clther Fundb" 900 2.931 31,500 48,524 {30.000) 151,657) 11,500} 3,133 29,917 250.(K)O 12,566) 27,351 250,000 3,000 10,631 (3,(x)O) 15,421) 256.950 5,642 267.802 2,281,528 1502,603) 656,190 (12,4117) (21J081 2,401,320 42 R¢gist¢r¢d Con)pany Number.. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ¢nd¢d 31 August 2023 19 RESTRICI'ED FUNDS (continued) Balance asat I Sep21 Fees A￿ls￿llee Donation Expenditur¢ Inv¢stsn¢n¢ Ineome Income and Gains Balance &sat 31 Aug22 Bursaries Mr Winzer Bunary Buildings Capital Campaign John ]4￿¢$ Foundati(Trn Popl¢ Charitabl¢ TTUSI David HiLison David Godwin Other Funds 1.157,310 427,896 5.958 17.454 (326J55) (26,858) 524.723 2,246 (41,503} 1,357,724 359,535 6,753 20,649 795 3,195 31,5 53.820 (30,000) (67.313) (1,5￿) 10.598 30.000 2,895 (83) 29,917 250,IK>O 256950 250,000 112 250,402 (1.534) 7970 1.899.618 (450,726) 864.145 (3,117) {28,392) 2,281,528 Bursaries represents funds receiv￿ from fundraisingrestritled to providin¥ bursarie8 and includes the Mi¢ha¢l Booker M¢morial BuTsary Scheme and a ncwer 500 Campaign as we approach the So￿ anniv¢rsary of our Royal Chartcr in 2032. Mr Winzer, an Old Brislolian. gifted & 8hare of his estate to be used for pupil fe¢y &8SiStatt¢e. Mr Bill Godwin gifted £250.000 in memory of his late father. Hetl)ert James Godwin. att Old Bri$toliarn to support 1000 bursar&e8 and to pnimoie a jifelong love for maths and learning. The John James Foundation repTe8ents specific funds received for bursaries and awards to pupils and £1,500 lowards pri￿4. ThePople CharitableTrust provides a donation s￿]ricallY for bursary supwrt for three pupils for thie year. The David Higson bequest is to be used to support Drama within the school. £2,566 h¥s been sr*nt during the year on audio equipmeni for schLK)I perforniance spaLes and a prize giving cup. £3,000 was received in memory of Dr Rev. JOI￿ Scott for the purchase of an to aid pupil ¢ui¢ion. Regular donations are receivoj towards Buildings and Capital Campaign to be spenl on the future capital prOJ￿ts. Other Funds represent various scholarship and prize funds. 43 Regiskred Company Number: 05142007 Regislered Charity Number.. 1104425

Bristol Grammar School (A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS (cO￿lnUed) for the year ended 31 August 2023 20 UNRESTIUCTED FUNDS GROUP Balan¢f a8at ISep22 Income Expenditure Inv¢5ttn¢i)t Losses Transfers Balan¢¢ asat 31 Aug23 Deslgnated Fund$ Bresland Bequest Headmasters Fund Tucker Bursary Fund 240,042 63,483 101,887 8280 20.470 248,322 72,752 89,422 (11,201) (32,346) 19,881 405.412 28.750 (43.547) 19.881 410,496 General Fund (1,189.387) 19.822.340 119,657,392) (39,778) 130,119 Tangil)le Fixed Assets Fund 16,466,666 (126,180) (934,098) 16,340,486 15.682,691 19,851,090 (19,827,119) (39,778) 150.000 15.816.884 SCHOOL Balance a5at ISep22 Income Expenditure Invesljneni Transfe Balance 31 Aug23 Design#ted Funds Bresland B¢quest Headm￿1¢￿ Fund Tucker Bursary Fund 240,042 63,483 101,887 8280 20.470 248,322 72,752 89.422 {11.201) (32,346} 19,881 405,412 28.750 {43,547} 19.881 410,496 General Fund (1,190,389) 19.629,579 {19,4(yl,631) (39.778) 130.119 Tangible Fixed A$$ets Fund 16.466,666 (126,180) (935,100) 16J40,486 15,681,689 19,658,329 (19,634J58) {39,778) 150.1I)0 15.815,882 Unrestricted fund8 include £410,496 of designated fund8, £248,322 of which is inv¢st¢d al￿ the interest used to fund Bursaries. £72.752 iy the Headmasier's Fund whi¢h is used to.gupport pupi]s at th¢ discretion of the Hethaster. Registered Company Numbcr.. 05142007 Registered Charity Number: 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FtNANCIAL STATEMENTS (continued) for the year ended 31 August 2023 20 UNRESTRICTED FUNDS (cotttsnu￿) Mr Peter Tucker gifted the ￿h0o1 a Shore of his ¢stat¢ and a final di6tributi¢)n of £19,881 was received during the year. No condilions were placed on the uqe of this legacy but the Governor8 have agreed that it should be used to fund pupil fees a&sistance and thi88mount has been transf¢rr¢d to a designated ￿lld forpupil bursarles. £32J46 VI￿ spent during the yw 8Dd the total amouni held at 31 Aug 2023 was £89,422. The Tangible Fix¢d A￿¢ts Fwid r¢pr¢sents th¢ 1K￿k valu¢ of all tangible fixed a88ets and is the value of what hos been spent to a¢quir¢ fjxwj as5¢ts and the depT￿latIon of thos¢ a￿ts less any digw￿ls. GROUP Balance asat I Sep21 Income ExpenditUTe Investment Transfers Balance Losses 31 AuR22 De5i8llat¢d Futtdi Bre8land B¢quest H¢8dm8stws Fw TuckwBuTSJry Fund 232,493 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 Genernl Fund (1,645.890) 18537,493 (17.941.782) (21,844) (117,364) {1,189J87) TaDgibl¢ Fixed Assets Fund 17266,055 (799.389) 16.466.666 15,899,098 18,549,191 (18,743,754) (21,844) 15,682,691 SCHCK)L Balan asat I Sep21 Income Expendithre Investmenl Losses Transfers Balance asat 31 Aug22 Des18tt#te41 Futtdl Bresland Bcqutsi Heathnasters Fund Tu¢ker Bursary 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 General Fund (1,646,670) 18.393239 (17,797,750) (21,844) (117,364) {1,190.389) Tangible Fixed Asset5 Fund 17,265,833 (799,167) 16,466,666 15,898.096 18.404.937 (18.599,500) {21,844) 15,681,689 45 Regis*red Company Number.. 05142(K17 R¢gistcred Charity Number: 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continiied) for th¢ y¢ar ended 31 August 2023 21 ANALYSIS OF PRIOR YEAR STATEMENT OF FINANCIAL AcfIviTLES BY FUND Unre¥tricted Restrict¢d Endowment Funds Funds Funds Notcs 2022 INCOME Donations and legacie3 162,138 864,145 1,026,283 Charitsble activities School fees Other educational income 17.492,676 101.221 (450.726} 17,041,950 101,221 17,593.897 (450,726) 17,143.171 (hher Trading Activities An¢ill8ry trading income Rents and lettings 13,726 255,497 13,726 255,497 Inv¢strnent income Other iti¢ome 269.223 682 39,271 562,522 682 TOTAL INCOME 18,549,191 4J2,690 19,001.881 EXPENDITURE Cost of generalin¥ Charitable activities 10 10 490259 18,253,495 106,455 596,714 56.962 18,313,574 3,117 TOTAL EXPENDITURE 10 18.743.754 3.117 163,417 18,910,288 NET INCOMFJ(EXPENDITURE) BEFORE WVESTMENf GAINS (194,563) 449,573 {163,417) 91￿93 Net gain on investtnents (56298) (67.6631 (528.5091 (652,470) NET INCOME (250,861) 34,454 381,910 (691.926} (560,877) 651.860 686.314 (Lo&%e8)IGatn on investhient prowties NET MOVEMENT IN FUNDS (216,407) 381,910 {40.066) 125,437 Fund ba]ance8 broughi fonvud 15,899,098 1,899.618 19.587,966 37.386.68? FUND BALANCES CARRIED FORWARD 15,682,691 2,281528 19,547,900 37,512,119 46 Registered Company Number: 05142(K)7 Regi￿tered Charity Number. 1104425

Bristol Grammar School (A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 August 2023 ANALYSIS Ob" NEI. ASSETS BEfwEEN FUNDS Unrestricted Funds Restricted Endowment Funds Funds Fund balances at 31 Au8USt 2023 arr rEp￿Sented by.. GROUP Tangible fixed assets Fixed asset invtstments Cunrnt a$5et5 CuTrcllt liabilitTes No1￿cUrrent liabilitits 16,340,480 1,545,016 5,395,845 (4,583.885) (2,880.572) ,089,461 17.486.258 4.600 17,429,941 20.418.602 6,414.437 (4,583,885) (2,880.572) 1,387,328 1,013,992 Total net 855ets 15,816,884 2,401,320 18,580J19 36,798,523 SCHOOL Tangible fixed a￿ets Fixed asset investments Cuttent a￿et8 Current li&bilities Non-CUTreNt liabiliti 16,340,480 1,545,016 5,307,586 (4,496.628) (2,880.572) 1,089,461 17,486258 4.600 17,429.941 20,418.602 6,326,178 {4.496,628) (2.880,572) 1.387,328 1.013,992 Totsl net a88ets 15,815,882 2,401,320 18,580J19 36.797,521 Unrestricted R￿trIc*d Endowment Fund8 Funds Totsl Fund balances at 31 August 2022 are represented by.. GROUP Tangible r￿ed a88ets Fixed asset investtnents Current assets Current liabilities Non-current liabilitieB 16,466,660 1,565,183 5,833,930 (4,865.550) (3.317.532) 1,146,420 17.613,080 18,396,880 21.294.386 4.600 6,787.735 (4,865,550} (3,317.532) 1.332,323 949,205 Totsl n¢t &95ets 15.682.691 2281.J28 19.547.900 37,512.119 SCHWL Tangibl¢ f]x¢d w¢ts Fixed osset investtnents Current a&sets Cutrent liabiliti¢s Non-cuffent li2bilities 16.466,660 1.565,183 5,788,453 (4,821,075) {3,317.532) 1.146,420 17,613.080 18.396,880 21294.386 4.6(M) 6,742258 (4,821.075) 13.317,532) 1.332,323 949205 Total net assets 15,681,689 2,281￿28 19,547,900 37,511,117 47 Regi￿ered Company Number. 05142(K)7 Registered Charity Number.. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 August 2023 23 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net surplus before investment gains and1055¢$ Deprecialion In¢rea8e in debtors (Defjwse)IAncrea8e in creditor8 D¢cre&s&(Increase) in stock Investment management fee8 47,743 1,092,335 (167,697) {407,811) 921 100.946 53544 (755,659) 91,593 1,108,996 (171,801) 605,409 (1,514) 106,455 65.204 {562.522) Add ini¢rest paid - inve$tm¢nt and net interest income Net cash louttlowyinflow from operating activiti¢s (35,678) ,241.820 24 CAPITAL COMMITMENrs The S¢hiKTrI hys agreed with a new tenant io make r¢pairs to one of the School's investsnent prop¢rties withxll Six months of a l¢&se COmTnen¢ement date of 20 September 2023. It is egtimated that this will rost in the r¢gioll of £102,000 ]￿l￿dIng VAT. As a planning condition of the new build Perforn]ing Arts Centre. Bristol City Council Tequired the School io commission a piece of public art with 8 budget of £45,(X)O irteluding VAT. ContraC￿al agreements have been made with a Curator and an Arti$t for this amount le$$ £33.980 which has already been Spent at 31 August 2023. 25 OPERATING LEASES The Gr￿p is committed to making the following minimum payments under nonryC8ncell&ble operating le&8e8 &8 follows'.- Plant & Machinery 2023 2022 Le8s¢ payments due: Within l year In 2 10 5 y¢ars 282,242 363,649 IJO.(MY) 159.661 26 RELATED PARTY TRANSACTIONS Governor Mr Jonathan May ig a Governor of Bristol Grammar School and 18 adirKtorand CEO of Sponsorcraft Limited. During the year to 31 2023. the School ¢ontracied Sponsor¢raft Limited to provide the School with Giving Day software and related t¢¢hnolo¥y $ervi¢es in¢luding data segm¢ntatson and analytiu. The School wa> charged ai onn's-length £11,400 including VAT. Mr Jonathan May had no direct involvement with th¢ work undertaken or the amounl invoiced. Subsidiary Company I￿ring the year the sch(￿11 invoiced the subsidiary BGS Enterprises costs of £232.6411 (2022.. £189,964),. the Aniercompany balanee at the vear end was £65.887 (2022: £78,177). Gifi Aid paid by BGS Enterprivxs Ltd to the School w&8 £27.619 {2022-. £37.185). 48 R¢gist¢red Company Number.. 05142007 Registered Charity Number. 1104425

Bristol Grammar School (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) for th¢ y¢ar end¢d 31 August 2023 27 PENSION COMMITMENTS Teaehers, Pensfion Scheme The School partieipate8 in the Teachers, Pet)sion Scheme ('the TPS") for its teaching staff. The pensi¢)n charge for the year includes conthbutions pay8ble to the TPS of £1.749,180 (2022.. £1,691.350) and at the year-¢nd £139,609 (2022.. £141,710) was accrned in respect of contributions to this scheTn¢. Th¢ TPS is an unfund¢d rnulii-¢mployff d¢fined b¢n¢fi¢s p¢nsion ￿￿e1Th¢ gov¢rn¢d by the Teachers, Pension Schern¢ RegulatiODS 2010 (as a￿ended} atLd the TeaclLers' Pe￿10￿ Scheme Regulation¥ 2014 (a¥ 8m¢nd¢d). Members ¢ontnTriuts on a "pay as you Eo" ba8As with contril)utions from members and th¢ employer being ¢redit¢d to the Ex¢hequer. R¢tir¢m¢nt attd other pension benefits are paid by publir funds provided by ParliameJ)L Th¢ Gov¢rnm¢D¢ A¢¢iiary. w¥in¥ norn￿1 a¢¢uarial principles, wnducts a formal a¢luarial r¢view of the TPS . ac¢ordaDC¢ With tb¢ Pub]i¢ Service P¢n8ions Ivaluations and Employer Cost Cop) Dirrftions 2023 publish by HM Treasury every 4 years. The aim of the review 18 to sp￿Ify the level of future ¢ontributions. Actuarial h¢rn¢ valuatioLs ar¢ d¢p¢n¢J¢nt Jssumptions atx)ut th¢ Yalu¢ of futur¢ wsts. design of ben¢fits and many other factors. The latest 4ctuaTial va]uation of the TPS wu ou¢ &8 at 31 2020 in aword￿¢ with The Public Servi¢e PensioDS (Valuati¢)ns and Employ¢r Cost Cap) Directions 2023 and th¢ Employer Contribution Rate wag assessed using agreed assumptiorts in line with the Directions and was accept¢d Jt th¢ originol ass¢ssryJ ratc &$ there w&% no cost control meetwiism breaeb. 'I'he valuation reiMTrrt was publithed by the Departsnent for Education on 26 October 2023. The key elem¢nts of the valuation are.. Totsl scheme liabilitie8 for service {the capital sum nceded at 31 M4rch 2020 to meet the 8tr¢am of r¢ flows in r¢sp¢rt of b¢n¢fi¢s earn￿} of £262 billion Value of notional awts (￿tin￿ted fvture contributions together with the proceeds fiDm the notional investments held ai the valuation dale) of £222 billion Noiional pasi service defi¢ii of £39.8 billion (2016 £22 billion) DI￿oUnt ratc is 1.7Yo in cxce&s of CPI {2016 2.4/0 in excess of CPI) (this ch8n8e has had the greatest fjnancial Significance) As a ttsult of the valuation, new employer contribution ￿t¢S have been set at 28.6•/o of pensionable pay from l April 2024 Lmul 31 March 2027 (compared to 23.680/0 under tho PTevious valuation including & 0.08/ administrauon levy). Deflned contrlbutlon scheme8 The School contributed to a new defined contribution scheme forteaching stsff from January 2023 85 described in Noie l(k). Total employer contributions to Aviva Pension Trnst for Independent Schools for the period an)ounted to £33,991. At the year-end contributions outstsnding tolalled £4,422. The School contTibutes lo a (kfined wntribu¢i(Trn 6chem¢ for Don-teaching staff. as detailed in Note l(k). Total employu contributiolls lo The People's Pension for the year amounkd to £190,372 (2022= £163,047). At the year-end contributioll8 outstaDdin8 totslled £15 J69 (2022: £13,022}. The Peniions Trllst Gro￿th Han- Seottlsh Voluntar> Seetor Penslon Seheme The SehLK)l is making pension recovery plan payments to the Scottish Voluntsry Sector Pension Def]ned Beneflt Scheme via Brisiol Charities. This is in relati(m to the membet¥hAp of a fomeremployee of the School who was first employed An the period when Bristol Charitie8 managed the administrdtion of the Sch(x)l and prior to the ineorporation of Bri$tol Grammar Seh(Kkl on l June 2004. Following a valuation of the Schemc a8 at 30 September 2020 the recoverypertod is schethiled to run until 30 Sep*mber2024 with payments reducing from April 2022 bui then due to incre&ge again by 3IJ/y per annum from April 2023. Tot￿ paymcnLs made during the year were £1,549 (2022:£1,808). 49 Registered Company Number.. 05142007 Registered Charity Nwnber: 1104425