2021-08-31-accounts

Charity number: 1120199 Company number: 6261525 STOCKPORT GRAMMAR SCHOOL ANNUAL REPORT AND ACCOUNTS For the year ended 31 August 2021

STOCKPORT GRAMMAR SCHOOL ANNUAL REPORT AND ACCOUNTS 2021 CONTENTS Pages Referenoe and admlnlstrallve detsil$ Governors. report 3-15 Independent Audltors. report 16-18 Statement of fin8nclal actlvltles 19 Balance sheet 20 Cash flow statement 21 Notes forming part of the financlal statements 22-37

STOCKPORT GRAMMAR SCHOOL ANNUAL REPORT AND ACCOUNTS 2Q21 REFERENCE AND ADMINISTRATIVE DETAILS REFERENCE AND ADMINISTRATIVE DETAILS The School is a company limited by guarantee. company number 6261525 and is registered with the Charity Commission under charity number 1120199. The registered address ol the School (which comprises the Senior and Junior Schools) is Slockporl Grammar School, BLtxton Road. Stocwrl SK2 7AF. The Governors ol the School are also the Trustees, Diyeclors and Membeis and are collectively relorred to as Governors. The names ol the Governors al the dale ol signing the Report andlor those who served during the year are as sel oul below.. Co-optatlve Governors C F Dunn Ichairl A P Carr (Vice Chairl P A Cuddy (until 26 March 2021 Miss S E Carroll P Milner lunlil 22 June 20211 Mrs S Lansbury A C Simpson JMRLee N Fl Booth JCPMason A J Gaydiner Dr L Gholkar Nomlnatlve Governors J A Shacklolon IThe Old Stopfordians Associalionl Professor A J C Bloor IThe University ol Manchester) Mrs C S Muscull (The Teaching Staff of the School) Co-oplative Governors are appointed by the Board of Governors lor a period ol live years, aller which they can be appointed loi further five year periods. Nominative Goveynors are appointed by their respeclivo nominating organisations lor up to two consecutive Ihree-year perlods. Members ot th9 Management Committee OFFICERS Headrnasters The School The Junior School DrPMOwen M J R Copplng Bursar and C18rk lo the Governors C J Walson {to 28.03.2021 } J Clague Ilrom 22.03.20211 School Address Stockport Grammar School Buxlon Road Stockport SK2 7AF The day to day running ol th8 School is delegated lo the Haadmaslers and Bursar. Page 1

STOCKPORT GRAMMAR SCHOOL ANNUAL REPORT AND ACCOUNTS 2021 REFERENCE AND ADMINISTRATIVE DETAILS ADVISERS Bankers National Weslminsl¢r Bank plc POBox13 10 Great Underbank Slockporl SK1 1LT Solicitors Veale Wasbrough Orchard Court Orchard Lane Bristol BS15WS SAS Daniels LLP 30 Greek Street stockport SK3 8AD Farier & Co 66 Lincoln's Inn Fields London WC2A 3LH Scholield Sweeney Springfield House 76 Wellinglon Street Le8ds LS1 2AY Auditors Crowe U.K. LLP Charleyed Accounlanls Registered Auditors Black CoLJnlry House Rounds GY88n Road Oldk)ury B69 2DG Archit8ets 1 Oarchitecl Lid 12 Hilton Slr8el Manchester M1 1JF Insuranc8 Brokers Tow8roate 7lh Floor West One 114 Wellinglon Street Leeds LS1 IBA Investment Advisers Rathbone Investment Management Port of Live¥pool Buildlng Pier Head Live¥pool L31NW Page 2

STOCKPORT GRAMMAR SCHOOL GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The Governors of the School, who are also Ihe Directors ol the Company, presenl their annual report lor the y8ar ended 31 August 2021, together with the audited acuunls lor the year, which have been propared accordance with company law and in compliance with the Charities SQRP 2015. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The School was established in 1487 under the Will of the founder, Sir Edmund Shaa. 11 was subject to a Scheme approved by the Charity Commission on 14 February 1991, and amended by variations lo the Scheme dated 15 September 1995, 9 January 1996 and 4 May 1999. A company limited by guarantee with charitable slalus called Stockport Grammar School was incorporated on 29 May 2007 with bespoke Memoranduw and Articles ol Association. The Governors were appointed as directors and members ol the Company and ar8 Ils charity trustees. The School undertaking and expendable assets ol Stockport Grammar School, registered charity number 525936 were transferred to the Company al midnight on 31 August 2007 to form parl of the corporate property of the Company. The Articles of Association were reviewed in 2015 and updated lo be in line with current legislatlon. Governlng Body There is a single governing body lor the whole school which comprises the Senior and Junior SGhools. Recrultment and Trainlng of Governors A Governor search group reviews the composition and future membership ol the Board. New Govelnors are inducted by way ol interview with the Clerk lo the Governors, who ensures that Ihey are in possession ol, and aye aware ol the implications ol, a number ol internal documents, Gharity Commission guidance documents and the Scheme doGuments noled above. The Governors have continued a process ol sell- appraisal and are also encouraged lo engage in ¢ontinuing lyaining during their period of ollice by attending approprlate external training courses and seminars organised by various external bodies. The Governors have reviewed th8 Charity Governance C(KJ6 lor TTUStees produced by the Charity Comrnission and were satisfied that they mel the required standards In all areas bul that the compliance WOL¢ld continue lo be reviewed regularly. Organlsatlonal Management Tho School Governors, as Directors DI the Company and the Trustees of the Charity, ar8 legally responsible for Ihe overall management and control ol Stockport Grammar School, and meet four limes a year. The work ol implementing most of their polieies is carried out by the members ol tho Management Committee who meet six limes a year lo consider the more delailed aspects ol those mallers which fail within the remit ol the Govarning bi)dy. The Management Committee is ¢urYenlly chaired by the Chairman of Governors. The other principal Committees are Finance, Building lincludlng Health and Safely), Education, ICT and External Relations. Each ol these Commit188s meet as and when required. Governors review each year any potential conllicls ol interest. Three Governors had children in the School during the year, and declare an interest when Yelevant d8cisions wer8 taken. The day lo day running of Ihe School is del8galed to the Headmaster. Dr P M Ow8n supported by Mr M J R Copping, Headmaster ol the Junio¥ School and their Senior Managemenl Teams ISMTS), together with the Bursar. The Headmaslers and School Bursar allend me8lings ol the Board and Ihe above Commitle8S. In March 2021 Mr C J Walson retired aller fourteen years dedlcaled service lo the School and ils pupils. The Governors have appointed Miss Joanne Clague as his SLJccessor. Flemuneration lor all stall is sel by the Board and is reviewed annually w11h reference where possible lo other similar schools lo ensure that the School is sensitive lo the issues of pay and employment conditions 81sewhere and that stall aro fairly and reasonably rewarded lor their contribullon to the work ol the school. The Governors r8cognise that delivery ol the School's charitable vision and purpose is primarily dependent on the key management personnel and that stall costs are the single largest element ol charitable exp8nditure. Page 3

STOCKPORT GRAMMAR SCHOOL GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Employment pollcy The School is an equal opporlunilies employer. Full and lair Consideiation is given lo job applications from disabled persons and due consideration is given to their training and employment needs. Consultation with employeeg, or their representatives, has continued al all levels with the aim ol taking the views ol employees into account when decislons are made thal are likely to allecl their Inleresls. Employees are made aware ol the financial and economic perlorm2nce of the School. Communication with employees continues through normal management channels in a variety ol forms and also through exceptional channels lo apprise slafl ol cu¥renl issues. Governors, Insurance In ac¢ordance with normal commercial practice the School has purchased insurance lo protect Governors, and officers from claims arising from negligent acts, errors or omissions occurring whilst on school business. The insuran¢e provides cover up lo £5M on any one claim and the cost lor Ihe year ended 31 August 2021 was £2,265. Relatlonshlps The School is connected lo another Charity, Slo¢kport Grammar School Educational Foundation, which operates from the same address as Slockport Grammar School. The object of the Foundation is to apply its income and so much ol its capital as may be determined by ils Trustees lor the advancement of education at the School. The School retains ownership of a wmpany Stockport Grammar School120071 Limited, established under the Companles Acts, which has not Iraded since incorporation. The School also has a close relationship with the Slopfordian Trust, a Registered Charity whose objectives include the provision ol tinancial assistance to needy pupils in the School. OBJECTIVES AND ACTIVITIES Charltable Oblect The School's Object, as sel out in the 2007 Scheme, is lo advanc8 education by the provision and conduct, in or near Stockport, of a school lor boys and girls and insofar as it is incidental or ancillary. such other purposes for the benefit ol the local Gommunity as shall be ex¢lusively eharilable. Objectives for the Year These were.. To ensure that every Child achieved a salislaclory level of academic performance and had the opportunity lo participate in an outstanding and wide ranging programme ol co-curricula¥ activities., To provide a complete education package from the age 013 10 18 y8ars', To keep the curriculum under frequent review to ensure that il remains appropriate to the needs ol pupils in a changing education and examination environment; To improve further the quality ol leaching through stall development and by onsuring Ihal good practlce Is promulgated throughout the School: To ensure that pupils trom the Junior School achieve success in the entrance examlnalion lor advancement lo the Senior School., To develop further the use ol ICT across the School lo support both the teaching and learning in the School and lo support the work of the administration and management ol the School., The continuing development ol an External Relations strategy, engagemenl in the wider community of Stockport., and The continuing development and improvement of lacilili8s and resources across the site. STRATEGIC REPORT Straiegles to achleve the year's objectives Whilst the Coronavirus pandemic has dominated the majority ol the School year and had a significant impact both on the finances ol the School and on the delivery ol the curriculum, co-Gurricular activities and public examlnalions, the early Autumn and Summer tgrms saw the con801idation and further developrnenl ot the School's strategic plans across all areas. Page 4

STOCKPORT GRAMMAR SCHOOL GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 To ensure that ils continue to achieve excellent academlc resums and re are them for life be ond school whilsl havin theo orlunil to ate in as wide a ran e ol co-cur¥icular activities a8 ossible. The Senio¥ School and Junior School were inspectcd separately by the Independent Schools Inspeclorale in October 2019. In assessing the educational quality ol a school, the Inspectorate locus on key oul¢omes, the achievement ol the pupils including Ihelr academlc development and the personal development of the pupils, and both schools were rated as "ex¢ellent- in both Categ￿leS. The School achieved excellent GCSE Yesulls 176°/o al grades 7 or abovel and al A Level 186°/. A'.Bl through the Teacher Assessed Grades system. These grades were based on a series of mini-assessment5 devisod, marked and graded by the teachers. This arrangement maximised the pupils, opporlunilies lo show their best form whilst limiting the amount ol content that the pupils had lo master al any one lime. Academi¢ enrichment opporlunilies were harder to PTavide during periods ol remote learning and because ol coronavlrus reslriclions when PLJpils were in school. Nevertheless we were able lo sustain a good range ol academi¢ clubs, societies and competitions. For example. the Medical Society organised several on- line and in-person talks lor prospective medical sludents and National competitions in mathematics allracted a good number ol candidates. Since pupils returned lo school in March we have re-eslablished the full enrichment programme with Music, Drama and Outdoor Pursuits as well as Sport. The Duke ol Edinburgh Scheme remains popular and we were able lo catch up the backlog ol expeditions from summer 2020. We continue lo work on the Arlsmark project and lo establish the ArtsAward to recognize pupils. achievements in the Arts. Detailed planning and preparation has continued across 811 curriculum areas including the introduction ol a new option ol Drarlla al A Level and further research into how lo better enhance existing reporting and review systems lo support pupil development and learning. The Jur¢ior School continued lo provide a wide range ol co-curricular opportunities and developed the offer lo include many enrichment activities beyond sport. This included ulllising Senior School stall lor such clubs as Drama and Minimus. The implementation ol new History and Geography schemes ol work resulled in even higher standards in thes8 subjects. Curriculum Subject Leader roles were reviewed and developed in order lo ensuro lull coverage across both the Inlanl and Junior seGtions ol the school. This will enable highly elleclive sell-evalLtation and improvement planning. I learnin lallorms and the mechanisms b which the To refine and enh nce di ils slafl and arents. Further developtnent ol the School's parent portal and homework information system IFROGI have enhanced effective communication with parents and allowed them access to details on their children's progress and curriculum whilst the School's online Searning plailorm has continued lo give extended opportunities for Independent and collaborative leaching and learning across the School. These resources were used extensiv81y during the lockdown period lo support Ihe ¢ontinued deliv&ry ol leaching and learning across year groups. During the period of remote learning from January lo March the School olfered lull on-line185sons with extensive provislon ol digital r8souYces through Salchel..One and Google Meet. W8 began the implementation of a new learning plalloym (FROG) in May and this provides on-line homework as well as improved communication. Ovey the next few months we will use FROG to d8V8lop more digilal resouices to support learning within and outside the classroom. The J￿￿10￿ School has fully embedded the use ol Google Classroom and Google Meol. Dur¢ng the Spring Term 2021 lockdown period, live18ssons were delivered using Google Meet and work was submitted using Google Classroom. The use ol Google Classroom has continued for homework tasks and the use ol Frog will be explored loy Y6 pupils so they have lamiliarily before starting in the Senior School. re develo curiosit ol ils and rovide o orlu ies lor stretch and re made available to To romole a learnin challen The 2 schools ¢onlinu8 lo work closely lo align curricula. Modilicalions to the Junior School timetable have brought consistency between the lesson timings in the two schools and this allows more ellicient use ol facilities and stall. cu During the academic year, the new Junlor School Headmaster has formally observed. in conjunction with th8 SMT and relevant Subject Leaders, all members ol leaching stall al least twice. This has shaped the Page 5

STOCKPORT GRAMMAR SCHOOL GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Junior School Development Plan lor 20-21 and 21-22. From September 21, the Junior School tlmÈlable will now match the Senior School lo allow for Senior School stall lo further support are88 ol the Junior School curriculum. Another tocus in 20-21 land continuing in 21-221 was the development ol proble solving in rnath8mali¢s in order lo further challenge children through using and applying the mathemalics they have been laughl. A new tracking system was implomenled so that the progress and allainment ol Junior School pupils could be even mare closely monitored. This, alongside Pupil Progress Meetings, will allow for timely inl8rvenlions in orde¥ lo ensure stretch and challenge for all children. During the academic year. the Junior School joined North Wesl Gllled and Talented this provides CPD opporlunilies lor staff and woykshops to provide even further challenge in a range ol subjects. Tos kwa s to ensure that Ihe rinci les sel OLrt in the Ev Child Mallers framework are embedded acros 11 areas of the School. There has been further work to develop Ihe pastoral SLJPPOrt that is available lo sludenls, mindful ol the considerable pressures Ihal families and young people have been under during the ongoing global pandemic. There has continued to be extensive training provided lor all stall on safeguarding matters and there have been further improvements to the monitoying of pupil progress and participation in co-curricular activities. Refinements to ihe form period and asseTMbly programme, continued support lor stall on positive behaviour management and development of mindfuln8ss and mentoring programrnes all locussed on impyovino the quality of car8 and support ac¥oss the school. The School has ofle¥ed extensive support to pupils throughout the period of remote learning and upon the pupils return lo school. This has featured general pastoral support as well as additional provision ol counselling for pupils experiencing particular dillicullies wilh their well-b8ing. The school has developed a pastoral, discussion initiative lo address the issues raised by the 'Everyone's Invited, website and a pilot was carried out with the Lower Sixth year-group in June. This will lead to a pupil-generaled Equality Charler lo enhance respect for others within the school community. The Junior School has identified two rnenlal health 18ads', ono lo IOGUS on mental health within the curriculJm and one on inlervenlions. The School has devised a clear roadmap for support and three Mental Health First Aiders have been trained in the last year. Further investment was made in Iraining Iwo further staff lo delivei Mindfulness in Schools. this additional capacity has enabled the Junior School to deliver this within both form lime and as a GO-curric¢Jlar activity. Pupils have conlinued to express their views through the School Counc¢ls in the Junior and Senio¥ SchDoIs. These included leedback on calÈring provision. the newly opened sixth form calé, communicalion across the school, and consullalion ovey homework and uniform as well as their work in charitable fundraising. The School has progressed ils applicalion for the Artsmark award and established a creative hub lo promote conlacl with local arts organisations and Schools, and has launched an Arts Award to allow pupils lo gain a qualification and validate their artistic involvement. To romole 8nhanc8d o ortunilies lor ils lo artici ateins ort. The School has expanded the coaching provision in the main team sports as well as developing new sporting opportunities, particularly girls, football. 11 has been difficult to organise fixtures against other schools because ol coronavirus restrictions but an extensive Salurday programme ol inlra-school training and Gompetilions has been very successful. To view slrale ies lor il recruitment ublic benefi marketin and alumni relations. The External R81alions team has supported the SPA with various projects in the year It)cluding the Cookbook. The School has developed expertise in video to showcase pupils work and activities during the periods ol remote learning. Work has begun to enhance fund raising lor bursaries with a new Alumni community website. We continue to provide outreach events and competitions lor maintained sector pupils in Art, Drama, Mathematics and the Sciences. The External Relations department has contlnued lo fo¢us on pupil recruilmenl with locussed marketlno initiatives lor entry at all ages and opporiunllies for piospecliv8 pupils and their parents lo visit the School despite the challenges ol most events moving to online plallorms. Key messages are prornoled via the School website and through an increased use ol social media, whilst Tnore conventional advertising ol the school continues lo promote its strengths in academic and co-cuyricular provision and th8 admissions team Page 6

STOCKPORT GRAMMAR SCHOOL GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 has continued lo develop contact with prospective parents and support pupil recyuitment acro88 all age groups. Behind the scenes there has been considerable investment in a new platform Ih¥ough which we will engage wilh our alumni and build oppoflunit18s foy wider involvement with the school lo those who wlsh lo support us. The Exle¥nal Relations Committee has continued to promote the School's public benefit initiatives, mainlain and develop the School's repulalion with key stakeholders and the wider community and lo work with Old Sloplordians and others lo raise funds parliculayly lor the support ol bursaries. The Commillee now includes represenlalion from forme¥ pupils and has replaced the Old Sloplordians Association to coordinate the activities lor former pupils and to improve engagement wilh them through the school website and social media. Eco Schools artici alion. The Eco-schools Commillee, now led by dedicalod Eco-schools prefects has continued lo influence the school community with oampalgns on Yeducing food-wasle. use ol plastics and considerations ol Iravelling lo school. The School has now achieved the Silver Eco-schools Award. Slockporl Grammar will continue lo participate in the Eco Schools programme. looking lo progress rapidly to green flag levels. This will continue to provide leadership and development opportunities lor pupils and lo support the wider initialives ol the School in being aware and caring lor our environment. The Junior School has their own teacher with responsibility who leeds into the Senior School. Pupils in the school have continued lo achieve significant successes in a range ol sports at local, county and national level although opportunities to lake parl in competitive team sports were impacted lor the majority ol the academic year by ongoirig social dislancing measures. There hav& been individual pupil successes in regional and County and national appearances across a wide variety of sports. Other non- sporting successes include many pupil achievement awards in Olymplad competitions, success in Young Enlerprise competitions, and recognition of many individual 2chievem&nls in art and music with pupils performing in regional and national orchestras and exhibiting work in national galleries. The school eagerly anticipates the resumption of drama and music productions in the Autumn Term 2021. A5 part ol Ihe continuing commitment to improve the facilities available across tho whole school, two major capital investment projects lo create new and enhanced faciliiles lor the Sixth Form pupils and the construction ol a new Pre-Receplion building were completed despite delays created as a rosult of the Coronavirus pandemic. Work to expand and develop the hall and changing rooms in the Junior School wa5 also completed. As USLtal there were a number of other proj6cts undertaken ov8r the summer period including the creation ol gender neutral changing facilities and repla¢em8nl roofs lo the releclo¥y and Bursary. The old porlacabln that previously housed the pre reception facility was removed and work has commenced lo create an exciting new 'quiet play, area lo the junior school playground. A comprehensive programme ol relurbishmenl has also started on Ihe main hall. Added lo this was an extensive programme ol other maintenance and repair work. Principal Activities of the Year The School provides education in Slockporl to boys and girls from tho ages of 3- 18. In the academic year 202012021 the Senior School had an average 011102 pupil$11036 in 20191201 and the Junior School had an average 01356 pupils1374 in 20191201. The number ol stall employed during the year, including parl lime stall, shown as FTE'S was leaching Stall 129 (Senior 101, Junior 281 and non- leaching stall 961126 leaching staff in 2019120 01 which Senior 98. Junior 28 and non-teaching slafl 961. Public Benefit, Aims and Intended Impact The School's public benefit aim is lo provide an excell8nl independent 8ducation through a strong academic tradition and through developing wider social, moral and personal skills. Thesg aye encouraged through the development ol a supportive cornmunily which places a strong emphasis on the individual development ol boys and girls. Such an environment helps pupils lo learn self-discipline, participat8 in and be enriched by the challenges ol many extra-cu¥ricular activities which will contribute lo their success in li16 beyond school and university by equipping them with high moral values, personal qualities and a thirst lor knowledge lo serve them all Ihoir lives and enable them lo become worthwhile and responsibl8 citizens. Page 7

STOCKPORT GRAMMAR SCHOOL GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 In selling out policy and planning these aclivilies the Governors have given careful consideration to the Charity Commission's general guidanco on public benelll and in parlicular the requirement lo demonslrale that public benefit lor any charitable purpose where it had previously been presumed in the absence of evidence lo the Gonlrary. Through the External Relalions Deparlmenl the School has continued w¢lh ils policy lo promole and expand th8 School's links and role within the wider community ol Slockporl. The School continues lo provide means tested bursaries lo children whose parents would not otherwise be able lo pay the fees. Assislanee was piovided lo 12 01 the 188 pupils joining the First Form in 2020 and 10.1 D/0 ol puplls in the Senior School received means lesled assistance during the year. There continues ta be a wide piogramme ol events and activities in place lo raise lunds in support ol bursaries and bursary information Is widely available in the School's publications, on the website and in advertising lor Open Events. The 17 bLJrsary holders who keli the sixth form ol the s¢hool in 2021, achieved excellent academic success and secured a lolal 0126 A, and A grades. All ol those in receipt of a Iranslormalional bursary have gone on to study al university with len bursayy holders securing places al Russell Group universities. The School has ¢onlinued lo develop extensive links wlth other local schools and colleges across a range ol ages and activities although some ol the more eslablished and popular events had lo be cancelled during the lockdown period. The School looks forward to the opportunity lo resume shared academic support with local secondary schools in Classics, Drama and sciences and with Y5 pupils from eighteen local maintained primary schools participaling in the project lo support Art education. Pupils have also participated in co-curricula¥ ¢lubs and maslerclass sessions across a range ol subjects and have been supported in academic extension lessons and in their applications to top universities. Stall support teaching in the maintained sector with participation In teacher training schemes, academic extension schemes lor primary school teachers, NQT monitoring and work as examination moderators. Four slafl act as Governors in maintained s¢hools, others are Iruslees lor other charities or actively volunteer to support other local community o¥ganisalions. The Head ol the Junior School is a Headlaacher Performance Management Adviser lo the Governing Body ol a Stale Primary School in Liverpool. The school conlinues lo provide high level coaching and management as well as the use ol sports facilities to local sports organisalions, county rugby teams and lo national independent schools rugby. Pupils lake part in and gain much from a wide range of community serwce activities, particularly in the Sixth Form and as part of the Duke of Edinburgh Award. Despite the curtailment ol a number of charily fundraising events through those that were able to lake place puplls in the Senior SGhool raised £3,800 supporting Educaid Sierra Leone and Mind. In a difficult year, Junior School pupils don21ed £2,150 to four main charities., Macmillan Cancer Support, Children In Need and Comic R81iel. At Christmas, the pupils donated food to The Trussell Trusl Food Bank, this provided 2000 meals for families in Stockport throughout the lesliv8 period. Conlinuing the communlly ethos, Junior School pupils ollered words of emotional support lo children who would be spending thei¥ Christmas at Wylhenshaw Hospital in the form ol handprints and wore Christmas jumpers lo support Save the Children. The School continues lo enjoy 8 national reputation lor the qualily of ils delivery of the Duke ol Edinburgh Award Scheme and is the largest independ&nl provider in the North Wèst. The scheme has extended the oppo¥lunilies lor participation al gold and silver lev81 with mountain biking and canoeing now available and there are now over three hundred and lilty pupils actively parlicipaling in the scheme. The scheme has a completion rat8 in excess o180Lb/o which is well above the national average lor the UK. Enrolmonl remains higher with over 85.10 ol the 3rd year slarling their DofE Bronze last y@ar. The School has continued lo encourage coaching and sporting opportunities lor young peop18 in the area by making ils sports and sile facilities available for use by other organisalions. The School's playing fields have been used lor training by local junior rugby and alhlelics teams. Five outside swimming clubs lor young people make regular weekly use ol the swimming pool and the swimming facilities are used for no charge eaoh week by Year 5 and Year 6 pupils ol G¥eat Moor Junior School. The ongoing Global Pandemic did impael on the School's ability lo let ils facilities bul as the silualion improves lull focus is b8ing given lo priorilising the reinlroduclion of 8xisling lets. The School continued to provide support tor the children ol key workers. both during the lockdown peliod and dL¢ring the school holidays, bul the normal extensive programme ol activity weeks and specia1isl sports Page 8

STOCKPORT GRAMMAR SCHOOL GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 camps during the summer period were unable lo run. Plans for th8 use ol other school facilities lo be used by a number of other charities had lo be postponed although these are now gradually belng reintroduced in the Autumn Term 2021. Granl-maklng Policy The Governors. policy is lo make bursary awards available lo support an individual's 6ducational potential and ensure that the oppo¥lunity lor an education al the School is available lo as wide a range of children as possible to join the School at 11 + or 16+. The School endeavours lo promote Ihe availability ot bursaries to the widest audience through ils lileratuye and information, together wilh the terms and conditions for awards, which are available to view on ils website al www.slockporlgYammar.co.uk. This year, the value of bursaries, music scholarships, allowances and other awards made lo the School's pupils out ot unrestricted funds amounted lo £1,419,659 Iprior year £1,362,431) ol which £1,367,670 were means tested bursaries, which was close lo the upper target Ilgure of 8°/0 sel by the Governors tts allocate from gross lee income. 01 the bursaries awarded 769/0 were transformalional awards with lull fee remission. Volunteers The Slopfordian Parents, Associalion has continued to provide invaluable support lo the School In terms of fundraising and support of a wide variety of activities. ACHIEVEMENTS AND PERFORMANCE Operatlonal Pertorman¢e In the Senior School the objective is lo en5uie that all pupils maximise their academic potential and the target sel by the Governors is that there will be al least an 850/0 pass rate al Grad8s A and B al Advanced Level. The ongoing uncertainly and further lockdowns meanl Ihal students were again disappointed not to be able to sit exlcrnal examinations bul with th8 robust internal assossmenl proc8ss, our pupils achieved an Advanced Level pass rale ol IOOQ/ts Wth 86¥0 achieving A. A or B grad8S. Two pupils accepted places al Cambyidge and recipienls ol Iranslormalional bursaries secur8d places at Russell Group universities. 89°/o ol olhei pupils were successful in meetin9 the 8nlry requirements of Iheir chosen universities. The school value added according lo CEM cenlre data was positive and is improving over lime. In 2021 the GCSE grades were also awarded on the basis ol inleynally assessed grades. The pass ral8 was 990/. (grades. 9 10 41. 76Yo of grades awarded were at 91817 with 270/0 ol entries al the highest grade 9. The ovarall results wele judged lo be a fair reflection ol pupil abilities. The majority ol pupils look nine subjeels al GCSE or IGCSE Level from a range ol examining bodies. The school value added according lo CEM centre data was positive and is continuing to improve over time. In the Junior School, the objective is lo increase Ihe number ol children achieving 'Gre2ler Doplh, in Maths and English. Currently, All Early Years pupils make progr8ss from Slarl ol Year lo End ol Year in CEM standardised lesling of Literacy and Maths. In literacy, 89ts/o ol children were at or above the expected national level. 81 Q/Lb of pupils reached the expected level ol allainment in Maths. In KS1, 87.5.Vo of pupils were working al or above yea¥ expectations in reading. 80.2°/ts were working at or above expectations in writing and 91.60/0 In Maths. 1 OOQ/¢ ol EAL pupils achieved at expected levels or above in all area5. Al the end ol the academic year 2020 2021, approxirnalely 80.25ts/4 ol KS2 pupils were working at or abov8 expectations in reading. 750/0 were working al or above expected standards in wrillng and 7￿/4 in fvAaths. 100Yo ol EAL pupils achieved al or above expectations in all areas. Benchmarking The School parlicipales each year in the benchmarking survey conducted by Baines Cutler Solutions Ltd where ils financial performance is measured against that of similar schools in the north ol England. Compaying those results for the survey conducted in 2021 Ihe Governors 8Y8 encouraged by the performanc8 01 the school against those schools against which il is banchmarked. Page 9

STOCKPORT GRAMMAR SCHOOL GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Fundralsing Performance No specific financial taigel was gel by the Governors, bul during the year under review the amount raised was £123,40812020, £268,520). This included a generous donation from the Zochonis Gharilable Trust of £75,000 and an anonymous donation of £12,000 lor the provision ol bursaries. The direct cost incurred in money-raislng was £84,459. The School's aim is lo ensure that slrong relalions continue to be maintained with alumni and other potential benelaclors and has appointed an additional member ol stall lo develop the opportunities for fundraising both lor bursaries and capital projects. The S¢hool has continued lo benefit from a number ol generous legacies from former pupils which supporl the bursary tunds that enable pupils lo join the school. The Governors anliclpate that significant lulure donations will arise from the legacy programme. The School has received further generous support lor bursaries al 11 + l¥om Ihe Stockport Grammar School Education Foundation. The School had no fundraising activities reqLJiring dlsclosuie under 5162A of the Charities Act 2011. Investment Performance The consolidated investment portfolio produced a retum over the financial year lo 31 st August 2021 01 +23.10/0 VS the benchmark returns o118.0°/. lor the PIMFA Balan¢ed Index and 6.301. lor the absolute ¥elurn measure ol CPl+30/.. The porllolio benefilled from the continued economic and equity market recovery from the Govid crisis which was facililaled by the vaccine discovery and roll out, with the investment manager OLJtperforming the benchmarks through a combination of asset allocation positionlng and individual stock sele¢lion. While the outlook remains to sorlle extent uncertain with Covid still presenl and inflalionary pressures an increasing concern, since the period end the porllolio has made l¢Jrlher small galns. Our investment managers remain constructive on the outlook for the coming year. In a period that was heavily impacted by the Coronavirus pandemic the porllolios experienced some volatility bul recoveyed from Ihe initial markel weakness and have performed well and materially ahead ol the benchmark. Following the financial year end land al the lime of writing) the portfolios have increased further in value. Factors out$lde the School's Control While some ol the factors whlch most influence the School are within ils own control Ilor example the cur¥iculum on oller and the quality ol leaching slalll, other factors are not. As well as Ilucluations in the birth yale in Ils catchment area, the School recognises that laclors of the strength of the local and national 8conomy, localion and travel options continue lo have a major impact on the recruitment of pupils al all levels. The economlc impact ol the Coronavirus pandemic, the uncertainty surrounding Brexit and the risks ol new political policy initiatives present significant threats and limit the Governors, ability lo produce robust medikjm and long term plans. The continued Yecruilment ol high ¢alibre pupils in future years from a smaller market will require thal the School maintains the highe81 possible standards in all areas whilst potentially facing significant cosl increases and the Governors and senior management18ams recognise these factors in all their busSness planning. Th8 Governors continue to encourage all members of the School to play an active iole in the community and promote the work ol the SGhool and they encourage pupils from all areas ol the town lo apply to the School. The Governors are mindful ol re¢enl inspections undertaken and guidance issued by Ihe Chailly Commission with regard lo public benefit. FINANCIAL REVIEW The School's net incoming resources on unr8Stricled furkds before Iransf8rs or gains showed a net surplus lor the year of £266,291 12020, loss of £63,930) alter charging depreciation of £810,011 and receipt ol bank inleresl 01 £5,797. Whilst pupil numbers lor the year were higher than anlicipaled, the lockdown ol th8 School for the majority ol the spring term 2021 and the shill lo remote learning had a significant impact on the financial position ol Ihe School. Whilst the school was able to make some savings in operating co$18 and look advantage ol the CJRS scheme, many costs increased (provision ol testing facilities, additlonal cleaning, additional stalling arising out ol keeping children in bubbles, stalling both remote education and provision within school lor lace lo lace learning for children of key worker lamiliesl and this was again81 a backdrop where themselves also families laced ongoing financial diflicullies. As well as refunding meal charges acro$8 the whole school lor periods when the school was by necessity closed, Governors also look the decislon to relain lees at existing levels and lo make internal cost savings. Those families who Page 10

STOCKPORT GRAMMAR SCHOOL GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 needed further support were ollered additional Ilexlbllity regarding the timing ol fee payments 2nd the School did not charge interest on lees paid late during this academic year. Govemors recognise that the continuing very signlllcanl economic pressures on parents will have an irllpact on lulure recruitment and retention. However they note the huge commitment ol families to Stockport Grammar and their children's education and that the level of lee debl owed lo Ihe School has now signilicanlly reduced. The Governois were also pleased lo nole the continuing value of the external lelling of the swirllming pool and sports hall and the additional income il generated lo support the work ol the School. Reserves and Reserves Policy Notes 2110 24 to the financial slalemenls show the assets and liabilities atlribulable lo the various types of lund and summarise the year's movements on each fund. The School's total reserves of £27,895,837 at year end comprised £142,953 endowed funds, reslricled funds of £3,122,305 and unreslricled funds ol £24,630,579. UnreslriGled funds, not designated by Ihe Governors, amounted lo £20,626,493 at 31 August 2021. Designated funds amounted lo £4,004,086 and a description of the purpose of the designalions is shown in note 24 lo the financial slalemenls. Fyee rese¥ves, afler deducting the nel book value ol tangible Ilxed assets, were £1,605,092. The Governors have examined the School's requiiemenl lor reserves and have established a policy of maximising unreslricled lunds not proposed, commilled or invested in tangible fixed assets held by the School and that they should be between 5¢/0 and 10(/>o ol turnover. This equates to holding reserves between £780K and £1.5M and therefore funds currently held are well in excess ol this policy bul this is reviewed Yegulayly in light ol the need lo invest in development of the School's facilities. The reserves aye required lo provide the lundlng IOT the building development and maintenance programmes and investment in resources lo enable the School lo provide the best possible facilities tor the puplls cornmensurale with the School's standing in the community. The School's policy is Ihal ils banking arrangements should be sufficient to support the continuing activities ol the School in the short leym given that parents aye Yequired lo glv8 one term's notice of their intention lo withdraw a child from the School. Fundlng Sources The School relies almost enlirely on its lee income received from par8nts to cover ils expenditure and lo pay lor investment in buildings and resources. The only external sources ol funds ar8 normally by way ol donations and these are shown as income lo the School and in the Restricted Funds. In order to fund the conslructbon of the Woodsmoor teaching facilities in 2012 the Governors negolialed a number ol medium term loans with the Naiwesl Bank ol which only one remains ongoing. In the current year the School applied for support Irom the Coronovirus Job Retenlion Scheme lo cover the costs of stall who were furloughed and received a figure of £46,078 towards the costs ol their employmenl. Investment Policy and Objectlves The objectSve lor investing the Yeserve funds is lo grow the value ol the porNolios over the long term lo provide financial support and sustainability, with particular locus on the provlsion of bursary funding lor pupils ol the school. The Board aims lo maximise the lolal return {a combination ol income and capital growlhl on the investment assets within an appropriate and agreed risk profile such that capital growth is achieved lo at least keep pace with inflation and an income is g&nerated lo help support the school and its pupils. The Board, on consultation with their inveslmenl manager (Ralhbonesl, agreed lo a Risk Level 4 on Ralhbone2 scale 011-6, where 6 is highest. Whilst some ol the smaller funds have dillering aspects, the Board agreed that the inveslm6nt strategy and risk profile should be consislenl a¢TOSS the lJnds, although this is r8viewed regLJlarly. Raihbones have been appointed with a discretionayy investment mandate, carrying out the day to day porilolio management within the agreed framework. The board will monitor the manager and the fund perlormafice with reference lo the NASCI PIMFA Balanced index lan industry market r81ative benchmark) 2nd the long term lab8olul81 return measure of CPl+30/0. Page11

STOCKPORT GRAMMAR SCHOOL GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Prlnclpal Risks and Uncerlalntles The Boayd ol Governors is responsible lor the management ol the risks faced by the School. The Governors view the most significant risk to the lulure ol Ihe School lo be a possible luture reduction in pupil numbers as a result ol changing economic circumstances. These may either be as a direct consequence of the cu¥renl Coronavirus pandemic or as a result ol government decisions which impact on the economic circumstances ol families in the local area. Whilst levels of recruitment interest have remained strong and in some year groups increased as a result of concerns about the recent provision the maintained sector, continued economic uncertainly, the laclors ol Iravel and geography which inlluen¢e mariy families, decisions, and current trends in post 16 education all conirlbule lo the risks associated with pupil numbers in the future. Whilst fees were frozen lor a year in response lo the Coronavirus pandemic there is now signs ol stronger inllalionary pressure across all costs. Governors are however minded to keep future increases as low as possible. The increase in the employers, contribution lo Ihe Teachers. Pension Scheme has already had a very significant impact on the costs ol employing slafl and there remains a veyy high risk ol disproportionate future increases within the next three years. Another critical risk common to all businesses remains the Ihreal ol cyber seeurSly allacks and the School is mindful ol the need to continue lo improve resilience and miligale such risks as much as possible. Health and Safety risk management underpins many ol the aclivitSes ol the School, from daily management ol inlrastruclure risks such as lire lo personal risks, particularly when pupils ale involved in oflsile co- ¢urricular activities. Careful planning and detailed rlsk assessment procedures are in place lo minimise these and a lull dynamic review ol all operational matters lo miligale the risks ol infection transmission continues to LEnderpin all decisions allecting stall and students within the School community. During the year the Governing Body revlewed and updated ils strategic plan and the analysis ol the risks lo which the School could be exposed. A full risk assessment was compleled prior lo the reopening ol the School in both September 2020 and then March 2021. These risks are regularly reviewed by the Senior Management ol the School and day to day management of those risks is delegated lo the Senior Management Teams. Risks are identified, assessed and conlrols established throughout the year. The koy controls used by the School include: Comprehensive sllalegic planning, budgetlng and management accounting-, Established Organisalion slrudure and lines of reporting; Formal writt6n policies including clear aulhorisation and approval levels; Vetting procedures as required by law lor the protection ol the vulnerable., Terms of relorence for all Committees., and Fomial agendas tor all Commiltee and Board activity. Through the risk managernenl process established for Ihe School, the Governors are satisfied that the major ¥isks idenlilled have been adequately managed. 11 is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. PLANS FOR FUTURE PERIODS It remains the Governors, and Headmaslgr's intention lo ensure that pupils continue to achieve excellent academic resulis that wlll enable them lo gain entry to leading universities and prepare them for life beyond school whilst having the opportunity to participate in as wide a range ol co-curricular aclivllies as possible. In order lo pro1ecl 211 members of the School community from the Coronavirus pandemic the Schoo1 has introduced wide ranging changes to ils daily operation with revised mov&ment plans around the site, limelabling, hygiene, cleaning and catering arrangements. These will continue lor as long as deem?d necessary by governm8nt and medical advice despite the impact they have on Ihe lull range ol opportunities the School seeks to provide. In the S8nior section ol the School there are four key strategic areas of focus.. To continue lo implement th8 new RSE curriculum launched in September 2020. To continue to implement the Equality Charler initiative with separate discussion events for each year-group and pupil-developed initiatives lo promote respect foi others. Continue to train pastoral stall in supporting pupils, menlal health as well as sustaining a higher level ol counselling provision given Increased demand lor Ihese services from pupils. Page 12

STOCKPORT GRAMMAR SCHOOL GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 2. To continue lo slrer¢glhen the provision ol digital resources throu Jh FROG, making them available within lessons and outside of 5essons lo enhance pupils'18arning. 3. To continue lo re-establish the co-curricular program now that coronavirus ieslrictions have lifted with conoerls, drama productions and a lsjll program ol sporting tixlures now possible. The aim is lo promote pupil involvement in co-cuyricular acliv1tles lo enhance personal developmenl and pupil well-being. Measures will be taken lo record co-curricular involvement in a more robust way lo enhance recognition ol pupils, achievements. 4. To implement a system ol recognition awards to nolily parents when pupils have shown the live character slrenglhs or produced great pieces of academic work. In addition, in the Junior School their curriculum land staff personal development) strategic intent is to. Develop the children'5 ability to use and apply malhemalics in problem solving texts. 2. Embed new pupil assessmenl Iracklng system so Ihal data can be analysed more ellicienuy and efleclively. 3. To review and update our marking and feedback policy to ensure Ihat this moves learning on and provides appropriate support and guidance. 4. To embed the new Early Years Foundation Stage changes introduced from September 2021. 5. Develop the leaching of reading through Identified Guided Reading sessions in the curriculum. To produce reading tracking sheets in KS2 $0 that progress ¢an be accurately monitored. 6. To develop the teaching ol writing through elleclive modelling. 7. To revise the appraisal system so that 11 is more streamlined and locuses on key areas ol performance and to ensure that SMT are trained to undertake appraisals ol stall within their leam. 8. To develop the use ol ICT across the Gurrlculum. 9. Change the learning support cycle of support so that inlervenlions slarl in September rather than all8r October hall term. Despite the long term financial pressures faced by Ihe School the Governors are commilled lo completing th8 work that has already started lo improve th8 buildings and facilities on the school sit&. Work on the completion of the new junior school quiet play area will be compleled by the end of the academlc year lo 31 August 2022 and the long temi plan to Tefurbish the main hall will also continue. Further large scale developments will conllnue through the d&lailed planning stages so that they can commence subject lo the availability ol resources. Theso projects include plans to make further improvements to the Main Hall lo support and enhance the provision of facilities fo¥ Drama, the creation of a new Flec8Ption area and entrance and the development ol a maslerplan lor the sports lacililies on the sile. The Exl8rnal Relations Committee will continue to Teview the strategy for pupil recruitment al all ages. public benelil, Iparticula¥ly links to the community and the provision ol bursariesl, marketing and alumni ralalions and also to increase the School's role in the wider community. This will involve developing a range ol atternalive engagemenl strategies with greater focus on targeted digital communication. A key objective remains to embrace the School's social responsibllities as an outward lacing school by engagement with Ihe local and wider communities. The School will eonlinue to explore opportunities lo participate in external inilialives to raise the quality of provision in the maintained sector in Siockporl and South Manchester and prepare lo respond il there are lurthey national inilialives regarding collaborative partnerships. The plans to complement some of the curriculum and ¢o-curricular developments within the School by working lo secure the Arts Mark accredilalion were delayed by the lockdown bul we will continue lo work with othey schools and organisalions in Ihg area lo se¢ur8 this and widen our aclivilies in these areas. The School will continue to make every ellorl lo promote awareness of the School's Bursary Scheme lo widen access lo the School. An additional post has been created to bring a new impetus lo fundraising activities both lor pot&nlial capital projects bul also lo continue lo raise lJnds to sustain and expand Ihe provision ol suppoyl for local pupils and lo continue the School's tradition ol servicing the local community ol Stockport. The events ol the last year have further highlighted and reinlorc8d the Goveinors, recognition ol the economic pressures on parents caused by the current level ol lees and the impact ol external factors over which the School has no control which can add very significantly lo the School's oporaling costs. The Governors will continue lo ensure that the lees for tuition oller excellent value lor money as well as seeking ways to reduce costs wh8rever possible wilhoul compromising the high standards ol leaching, pastoral Page 13

STOCKPORT GRAMMAR SCHOOL GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 care, co-curyicular opportunilles, the provision ol other services, and the long term investment In th8 sile and the School's resources. The Govemors recognise what a very di(fi¢ull period this has been for the whole school community and they wanl lo record their thanks lo all those who have continued lo support the School Ihrouohout this period, with particular thanks lo all the stall, teaching and non-teaching who have worked tirelessly oveT recent monlhs lo maintain the high standards of teaching and support for Ihe pupils. STREAMLINED ENERGY AND CARBON REPORTING The School's gyeenhouse gas emisslons and energy ¢onsumplion are as follows.. 2021 4.052,452 772.33 2020 3,573,767 707.30 UK ener use kwh Associated Greenhouse gas emisslons121 Tonnes C02 uivalenl Inlensily ratio - Emissions per 0.53 per pupil 0.50 per pupil Intensity ratio - Emissions per area 0.04 per sqm 0.04 per sqm The School has used the GHG Protocol Corporate Accounting and Reporting Standard (Yevised edllionl. Further emission laclors were used from UK Government's GHG Conversion Factors lor Company Reporting 2020. UK energy use covers gas, eSectricity and transport luel. The lotal school roll has increased over the last 12 months. Added lo this lor the last couple of years the School has adrnilled more students into the fl¥st form and has se8n a higher retention rale into the Sixth form. Health and Safely guidance during the pandemic led to windows being kept open wherever possible in laaching and communal spaces in order lo aid venlilalion but in colder months this also led lo healing systems being required to work harder lo keep spaces adequately heated as a result ol windows belng opened. SECTION 172 STATEkqENT AND STAKEHOLDER ENGAGEMENT The Governoys have acted in accordance with their duties codiliad in law, which include their duty to act in the way in which they consider, in good laiih, would be mosl1ikely lo promote the 5￿Cte$S ol the School lor the b8nefil ol ils members as a whol8, having regard lo the slakeholders and matters Sel OL¢1 in section 172 of the Companies Act 2006. In discharging their duties above, the Governors ¢arelully considor. amongst other matters, the impact on and inl8resl ol olh8r stakeholders in the School and laclor these into their decision-making process. Pu Pupils bonefit from the School's excelSent pastoral provision with stall placing as much importance on pupils, all-round porsonal development as they do on academ1¢ progress. lo ees The School recognises that the qualities. skills and commilmenl ol its employees play a major role in the School's success. Regular briefings keep slafl informed ol School-wide developments, and wide -ranging employee benefits enhance their quality ol life. Staff wellbeing has been a key locus this yea¥ and will be a continued area ol allenlion, along with equality, diversity and inclusion. Furloughed stall were successfully re-integrated as they returned Irom an extended period of absence from the sile. Page 14

STOCKPORT GRAMMAR SCHOOL GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Parents The School recognises the many benefits ol engaging with parents and has reimagined ils communications with parents over the past twelve months. An historic relian¢e on written communication has given way to digital innovations such as slyeaming live and recorded audio-visual events and podcasts. ComrNunit The School is proud ol ils place in the local community and conscious that it has signilicanlly beneficial impact on the local economy and on local ¢ullural life. STATEMENT OF GOVERNORS. RESPONSIBILITIES The Governors (who are also diredors of Stockport Grammar School lor the purposes of company lawl are responsible lor preparing the Governors, report (including the strategic report) and the financial statements in accordance wlh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires Ihe Governors to prepare financial statements lor each financial year. Under company law the Governors musl not approve the financial statements unless they are satisfied that they give a true and lair view ol the slate ol allairs ol the charitable company and ol the incoming resources and application ol resources, including the income and expenditure, ol the charitable company lor that period. In preparing these financial statements, the Governors are required to.. select suitable accounllng policies and then apply them consislenlly; obsetve the methods and principles in the Charities SORP., make judgements and accounting eslimales that are reasonable and prudent, prepare the financial slalements on the going concern basis unless il is inappropriate lo presume Ihat the charitable company will continue in operation. The Governors are responsible lor keeping adequate accounting records that are sullicient lo show and explain the charitable company transactions and disclose with reasonable accuracy al any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible lor safeguarding the assets of the charitable company and hence lor taking reasonable steps lor the prevention and deteclion ol fraud and other irregularities. DISCLOSURE OF INFORMATION TO AUDITOR Each ol the persons who are Governors al the time when this Governors. report is approved has confirmed that- there is no relevant audit information ol which the School's auditor is unaware, and that Governor's have taken all the steps that ought lo have been taken as a Governor in order to be awaye ol any information needed by the School's auditor in connection with preparing its report and to establish that the School's auditor is awaye ol that information. This report, incorporating the Slralegic report, was approved by the Governors, as the company directors, on 7 December 2021 and signed on the board's behalf by.. CFDunn Chair Page 15

STOCKPORT GRAMMAR SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STOCKPORT GRAMMAR SCHOOL Opinion We have audited the financial slalements of Stockport Gyamrnar School I'lhe cha(Ilable company,) lor the year ended 31 August 2021 which comprise Statement ot Financial Activities, the Balance sheet, the Slatemenl ol cash flows and notes to the financia5 51alements, including signilicanl accounting policies. The linancial reporting framework Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iuniled Kingdom Generally Accepted Accounting Praclicel. In our opinion the Ilnancia1 statements.. glve a true and lair view of the slate ol the charltable company's allairs as al 31 August 2021 and ol Ils income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Piacllce., and have been pyepared in accordance with the requirements ol the Companies Act 2006. Basis for oplnlon We conducted ou¥ audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities undar those standards are further described in the Auditor's responsibilities tor the audit of the financial slalements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevanl to our audit ol the linanoial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our olher ethical responsibilities in accordance with Ihesa requirements. We believe that the audit evldence we have obtained is sullicienl and appropriate lo provide a basis for our opinlon. Conolusions relatlng to golng ¢oncern In audiling the financial slalemenls, we have concluded that the Iruslee's use ol the going concern basls ol accounting in the preparation ol the financial statements Is appropriate. Based on the wo¥k we have p8rlormed, we hav8 not Idenlilied any malerial uncertainties rolaling to events or conditions that, individually or collectively, may cast signilicant doubl on the charitable company's ability to continue as a going ¢oncern tor a period ol al least twelve months from when Ihe financial slalemenls are aulhorised lor issue. Our responsibilities and the responsibilities ol the trustees with re8P8Ct lo going concern are described in the Yelevant section8 of this report. Other Informatlon The Iruslees are responsible lor the other information contained wlhin the annual repoyl. The other information comprisès the information included in the annual report, other than the financial statements and our auditor's report Ihereon. Our opinion on the financial slalements does not cover the other inloTmalion and, exc8Pt lo the exlenl otherwise explicitly slat8d in our report, we do nol exprgss any form ol assurance conclusion Ihereon. Our responsibility is lo read the other information and. in doing so, consider whether the other information is materially inconsislenl with the financial slalemenls or ou¥ knowledge obtained in the audit or otherwise appears lo be materially misstated. 11 we identify such material in¢onsistencies or apparent material misslatemonts, we are required lo determine whether this gives rise lo a material misslalemenl in the financial slalemenls thernselves. If, based on th8 work we have performed, we conclude that there is a material misslalemanl ol Ihl8 other information, we are requirecl lo raporl that fact. We have nothing lo report in this regard. Page 16

STOCKPORT GRAMMAR SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STOCKPORT GRAMMAR SCHOOL Oplnlons on other matters prescrlbed by the Companies Act 2006 In our opinion based on the work undertaken in Ihe course ol our audit.. the information given in the Iruslees, report, which includes the directors, report and the strategic report prepared lor the purpose of company law, lor the financial year lor which the financial statements are prepared is consistent with the financial slalemenls., and the strategic report and the directors, report included within the Iruslees. report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In Ilght ol the knowledge and understanding of the charitable company and their environment obtained in the course ol the audit, we have not identified material misstalemenls in the strategic report or the directors. report included within the trustees, report. We have nothing lo report in respect ol the followng mallers in relation lo which the Companies Act 2006 requires us lo report to you il. in our opinion.. adequate and proper accounting records have not been kept., or the financial slalemenls are not in agreement with the accounting records and returns- o¥ certain disclosures of trustees. remuneration specified by law are not made; or we have not received all the information and explanations we require lor our audit. Responslbllitles of trustees As explained moye lully in the trustees, responsibilities statement, the trustees Iwho are also the directors ol the charitable company for the purposes ol company lawl aye responsible for the preparation ol the financial statements and lor being satisfied that they give a true and lair view, and lor such internal control as the Iruslees determine is necessary lo enable the preparation ol financial statements that are free from material misstatement. whether due lo fraud or error. In preparing the financial stalemenls, the Iruslees are responsible for assesslng the charitable company's ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis ol accounting unless the Iruslees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative bul to do so. Auditor's Yesponslbilities for the audit of the flnancial statement$ Our objectives are lo obtain reasonable assurance about whether the financi21 statements as a whole are free from material misstatement, whether due lo lyaud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level ol assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misslatemenl when il exists. Misslalemenls can arise from IraL5d or error and are consideyed material il, individually or in the aggregate, they COLJld reasonably be expected to influence the economic decisions of users taken on the basis ol these financial statements. Details ol the extent to which th8 audit was considered capable ol detecting irregularities. including Iraud and non-compliance with laws and regulations are sel out below. A further description of our reÈponsibilities lor the audit ol the financial statements is located on the Financial Reporting Council's website at.. www frc.or udilor res on ibilities. This descrlption forms part of our auditor's report. Extent to which the audit was consldered capable of detecting iyregularitles, Includlng fraud Irregularities, including fraud, are instances ol non-compliance with laws and regulations. We identified and assessed the risks ol material misslalement ol the financial slalements from iyregularilies. whether due lo fraud or error, and discussed these between OLJr audit team members. We then designed and Page 17

STOCKPORT GRAMMAR SCHOOL

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF STOCKPORT GRAMMAR SCHOOL

performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014, General Data Protection Regulation (GDPR), Health and safety legislation, and Employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of fee income (other than school fees), donations and ancillary income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Kerry Brown Senior Statutory Auditor for and on behalf of Crowe U.K. LLP Statutory Auditor Black Country House Rounds Green Road Oldbury West Midlands B69 2DG Date: 17 December 2021

Page 18

STOCKPORT GRAMMAR SCHOOL STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2021 Notes Unrestrlcted Fund8 Flestricted Endowed Total Funds Fund$ Funds Tol Funds 2020 School Deslgnal8d 2021 INCOME AND ENDOWMENTS FROM.. Chariloble Acllvlli8S School lees Olhér 8ducaiional income Olher ancillary Iradino incom8 1&271,314 76,38Q 589.362 15,271,314 76,380 589,362 13,910.275 66.634 889,141 other Iradlng 8Ctlvit16$ Olhef income Inveslm8nl Incorn8 Voluntary Sources Donalions arhd légacies 70,092 6,233 70,092 179,136 272,648 176,247 115,933 S6,970 24 T01al Incom• 304 708 16 435 272 EXPENDITURE ON: Raislng funds Fundraising c051S Financino c051$ Invesim8nt management 84,459 3,467 84A59 3,467 81,450 10,364 7,134 72,091 63,852 17,034 564 Charllable Bctlvitles E(kncaiion and grantrwaking 15581616 Total txpendlluyé 747 090 182 36 t6 293 78 NETINCOMINGFUNDSFROM OPERATION BEFORE TRANSFERS AND INVESTMENT GAINSIILOSSESI 266,291 165.3nl 158.8681 15641 141,486 18,979 alnslllossesl on Investments 10 475.838 476.986 22,965 975,789 25,209 Galnslllo$8881 on Inv88tment woyerty 260014 260,814 Transfe¥s baiween lunds 24 NET INCOME AND MOVEMEwr IN FUNDS 266,201 671,279 418,118 22.401 1,378,089 44,188 Funds balances at 1 Seplember 20 360 202 32807 2704187 I￿5$2 2651774 Funds bal8nce8 at 31 August 21 The notes on pages 22 to 37 form parl of these accounts. Page 19

STOCKPORT GRAMMAR SCHOOL Company number 6261525 BALANCE SHEET AS AT 31 AUGUST 2021 2021 2020 Notes FIXED ASSETS Tangible Fixed Assets Securities Investments Pyoperty Investments 19,021,401 5,486.146 1115000 25,622,547 17.951,081 4,492,155 io 23,297,422 CURRENT ASSETS Stocks Debtors Cash 12 13 66.998 466.662 3607715 4,141,375 63,484 536,360 4703 170 5.303.014 CREDITORS: Amounts falling due within one year 14 1618029 1 803 735 NET CURRENT ASSETS 2 523 346 3 499 279 Totsl Assets Less Current Liabllltles 28,145,893 26,796,701 CREDITORS: Amounts falling due aller one year 15 278 953 TOT AL NET ASSETS 21 ENDOWED FUNDS 22 142,953 120,552 RESTRICTED FUNDS 23 3,122,305 2,704,187 UNRESTRICTED FUNDS Designated and general funds 24 24 630 579 23 693 009 TOTAL FUNDS The financial slalemenls were approved and aulhorised lor issue by the Board on 7 December 2021 and signed on ils behalf by.. CFDunn Chairman The notes on pages 22 to 37 lorm part of these accounts. Page 20

STOCKPORT GRAMMAR SCHOOL CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2021 Notes 2021 2020 Cash flows from operatlng actlvllles: Net cash pyovided by operating a¢tlvitl8s Cash flows lyom investing actlvities: Dividends, interest and rents lyom inveslmenls Proceeds trom Ihe sale ol inveslmenls Purchase of investments Purchase ol fixed assets 26 712942 686417 179,136 176,247 786,036 4,218,067 {804,238) 14,043,477) 1881 531 2 684 575 Nel cash used in investing activities 1720 597 2 333 738 Cash flows trom tlnancing a¢tlvltl8s Repayments ol borrowing Interest paid on borrowings {84,333) 180,7411 Nel cash used in financing activities Change in cash and cash entillemenls in the reporting period 1 095 455 1735 196 Cash and cash equivalents al the beoinning of Ihe reportlng period Gash and cash equivalents al the 8nd ol the reporting period 27 4703 170 6 438 366 27 The notes on pages 22 to 37 form parl ol Ihese aGcounts. Page 21

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 ST ATEMENT OF ACCOUNTING POLICIES Charlty informatlon Stockport Gramrnar School is a Company limited by guarantee Iregislered numbe¥ 62615251, which is registered in England and Wales. Il's charity registration number is 1120199. The registered ollice and principal place ol business is Buxlon Road, Slockporl, SK2 7AF. Its principal activity is the provision ol day schooling. The members ol the company are the Governors narned on page 1. In the event ol the School being wound Upi the liability in respect ol Ihe guarantee is limited lo £1 per member ol the School. Basls ot preparatlon of flnanclal st8temènts The financial slatemenls have been prepared in accordance with Accounlino and Reportlng by Charities.. Slalemenl ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 102118lleclive 1 January 20151- (Charities SORP IFRS 102), the Financial Reporting Slandard applicable in the UK and Hepublic ol Ireland {FRS 1021 and the Companies Act 2006. The financial currency of the School is considered lo be GBP bgcause that is the currency of the primary economic environment in which the School operates. Stockport G¥ammar School meets the definition of a public benetil entity under FAS 102. Assets and liabililies are init1211y recognised al historical cosl ol transaction value unless otherwise slated In the relevant accounting policy. Having reviowed the funding facilities available lo the School togolher with th& expected ongoing demand fo¥ places and the School's future projected Cash Ilows, the Governors have a reasonable expectation that the School has adequate resources to continue ils activities lor the foreseeable future and consider that there wer8 no material un¢erlainlies over the School's financial viability. Accordingly. they also continue lo adopt the going concern basis in preparing the financial slalemenls as outlined in the Statement ol Accounting and Reporting Responsibilities on page 19. Crlllcal accountlng judgemenls and key sources ot estimatlon unc8rtalnty In the application ol the accounting policies. T¥ustee8 are required lo make judgement, estimates, and assumptions about the carrying value ol assets and liabilllies that are not readily apparent from other sources. The estimates and underlying assumptions ara based on historical experience and olher laclors Ihal are considered to be relevant. Actual results may diller from th8se eslimales. The eslimalos and underlying assumptions aro revlewed on an ongoing basis. Revisions to a¢counling estimat8s are recognised in the pe¥iod in which the e51imale is revised il the revision altecls only that period, or in the period af the revision and lulure periods il the ievision allecl8d current and lulure periods. In the view ol the trustees, no assumptions concerning the future or estimation uncerlairJly allecling assets or liabilities al the balance sheet date are likely lo result in a material adjustrnent lo their carrying amounts in the next financial year. In preparing the financial slalements the trustees have considered the treatment ol lee deposits. As per the standard terms and conditions lee deposits are ollsel against future lees o¥ parents can elect to donate the deposit lo the School. Therefore, the Iruslees have judged il appropriate lo classily the lee deposits due as split between grealer than one year and less than one year based on the expected repayment dale. Page 22

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Fees and Simllar Income Fees receivable and charges lor services and use ol premises are accounted lor in the period in which the service is provided. Fees receivable are slated aller deducting allowances, scholarship5 and other remissions granted by the School. bul include contributions received from Fleslricled Funds lor Scholarships, Bursaries and other g¥anls. Investmenl In¢om8 Investment income from dividends and bank balances is accounted lor on an accruals basis. Income from investment prope¥lies is acctsunled lor in the period to which the Yental income relates. Donatlons and legacies Donations receivable lor the general purposes of the Charity are credited to Unreslricled Funds. Donations fur purposes restricted by the wishes of the donor are taken lo Restricted Fvnds where these wlshes are Segally binding on the Governors, except that any amounts required lo be retained as capital in accordance with the donor's wishes are accounted lor instead as Endowments permanent or expendable according lo the nature of the restriction. Donallons and legacies income is recognised when the condilions for entitlement, probability and measurement have been met. Government grants Government grants ar8 credited lo the Statement of financlal aclivitios as the relaled expenditure Is incurred. Resources expended Expenditure is accrued as soon as a liability is considered probable discounted to present value foy longer term liabilities and has been included under expense categories that aggregate all ¢osls for allocallon lo aclivilies. Where costs cannot be directly attributed lo particular activities they have been allocated on a basis consislenl with the use of the resourcos. Liabilities are re¢ognised where there is a legal or constructive obligation cornmilling th8 entities to the expendituie. The irrecoverable element ol VAT is included with the item ol expense lo which il relates. Support costs are those costs that, whilst necessary lo dellver an aclivily, do not themselves produce or conslilute the output ol charitable aclivily. Included in support costs DI the school are budgeting and accounting, information technology, human resources and finance. School trip expenditure is included under support ￿$[s. Governance costs compris8 the costs of running the charity, including strategic planning lor its ILElur8 development, also internal and external audll, any legal advice loy the Governors and all costs ol complying with conslitulional and slalutory wequirements such as the costs ol Board and Committee meetings and ol preparing statulory accounts and salislylng p￿blIC accounlabilily. Pension schemes The Charity contributed to the Teachers, Pension Defined Ben8fils S¢h8me al rates sel by the Scheme Actuary and advised lo the Board by the Scheme Administrator. Th8 scheme is a multi employer pension scheme and il is not possible lo identify the assets and liabilitie5 of the scheme which are allributable to the School. In accordance with FRS102 therefore, the scheme is accounted lor as a defined contribution scheme. The Charlly also contributes lo a group personal pension scheme lor non-teaching stall. Contributions lo all schemes are charged in the SOFA as they become payable in accordance with Page 23

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 the rules ol the schemes. Tanglble fixed assets All Ilxed assets ¢osling more than £5,000 are capilalised al historical cost. Depreclation is provided lo write off the cost le58 estimated residual value ol tangible fixed assets over their eslimaled useful lives, on a straighl line basis, at the following rates= 2Q/. Buildings: Computer syslem and cabling: Motor vehicles: Fixtures and Fillings: 250/. Land is not deprecSated. A lull year's charge is made in the year in which the asset Is brought Into use but no charge is made in the year ol disposal. 1.10 Investment$ Securily inveslmenls are valued in the balance sheet al their mid-markel value al the balance sheet dale. Investment management costs are accounted lor as in¢idenlal costs ol the acquisition oi disposal where Iransaclion-based, while investment income management costs are charged as expenditure out ol Ihe relevant income funds. Investment properties are valued as individual investments al their market values as al the balance sheei dale whlch al the year 8nd 31 August 2021 was delermlned by obtaining a professional valuation. 1.11 Stock Stock is valued al the lower ol cost and net realisable value. 1.12 Debtors Short term debtors are measured at transaction pric&, less any impairment. Loans receivable are measured inillally al fair value, nel ol transaction eosts, and are measured subsequently at amortised costs using the elleclive inler8sl method, less any impairment. 1.13 Cr8dltors Short te¥m creditors are measured al the transaction price. Other Ilnancia1 liabilities, including bank loans, are measured initially al fair value, net ol transaction costs, and are measured subsequently al amortised cost using the elleclive interest method. 1.14 Financlal instruments Basic financial instruments are initially re¢ognised at transaction value and subsequently measured al amortised cost wth Ihe exception ol investments and ca8h al bank which are held al fair value. Financlal assels held al amorlised cost comprise trade and olher debtors. A specilic provision is made lor debts for which recov6rabilily is in doubt. Cash al bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amorlised cost comprise all creditors except social security and olhey taxes and Provisions. 1.15 Fund Accountlng General funds are unrestricted funds which are available for use al the discrelion ol the Trustees in lurlherance ol the general objectives ol the charity and which have not been designated lor other purposes. Page 24

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Designated funds ¢ompris8 unrestricted funds that have been sel aside by the Trustees lor particular purposes. The aim and use ol each designated fund is sel out in the nolos lo the financial statements. Restricted funds are funds which are available lor use only in accordance with the donor's wlshes. Investment income, gains and losses are allocaled lo the appropriate fund. CHARITABLE ACTIVITIES . FEES RECEIVABLE Senlor Junior 2021 2020 Th& school's fee Income comprised: Gross le88 13,209.895 3,295,644 16,505,539 15,239,518 Less.. Total bursaries, grants and allowances ¢rom unreslricled funds 1231 225 1 329 243 Afler School Care lees included in the above amounted to £18.30512020: £44,961). Scholarships, bursaries and other awards were paid lo 150 pupils12020= 1541. Within this means tested bursaries totalling £1,367,670 were paid lo 112 pupils12020.' £1,309,442 10 117 pupils). CHARITABLE ACTIVITIES . OTHER INCOME 2021 2020 Other educatlonal charilable actSvities Entrance and registration lees Courses and sub-letlings 33,069 30,580 Other anclllary acllvllies Tuck shop School moals Morning club School trips Fee illlerosl r8ceived 5,070 569,679 3,340 308,274 574,824 1,152 13,386 Othev incoming resources Government grant Other 46,078 174,796 INVESTMENT INCOME Total 2021 Total 2020 Unrestricted Restricled Bank interest received Dlvidends received Investment property r8nlal 5,687 54,216 110 56,860 5,797 111,076 28,556 109,776 122 166 179 136 176 247 Page 25

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 DONATIONS AND LEGACIES Total 2021 Total 2020 Unrestrlcted Restrlcted General appeal doiialions Bursary appeal donations Prize fund donations School donallons Sloplordians Bursaries from Slockporl Grammar School Educational Foundation Baxendale Bursary Sloplordian Trusl Bursary 6th form quad building donation Hallam Trust 1,250 1,250 120,120 38 25,157 140,200 38 1,250 1,884 122,120 38 85,986 23,397 11,997 85.986 23.397 11,997 80,388 17,997 103,125 247 738 248 988 ANALYSIS OF TOTAL RESOURCES EXPENDED al Total expendlture Slalf cos18 Other costs Depre¢lation Total 2021 Total 2020 Cost8 of gentrrating lunds: Financing costs Inole 71 Investment managemant Fundralsing lor voluntary resources Tolal costs of generallng lunds: 3,467 81,450 3,467 81,450 7,134 72,091 84 459 ￿￿64 169376 169 376 Charllable acllvlliey Teaching WeSlaro Premises Support costs and goveYn8nce Grants, awards and prizas Inote 6 Ibll Tolal charllablo èxpendlturg 9,772,323 692,000 221,948 971.519 991,536 786,(196 1.194,271 260,549 10,763,859 1,478.096 2,099.862 1,378,436 10,189,347 1,274,607 1,825,227 1.925,385 683,643 126,368 404 157 3 656 609 404157 16124410 367 50 15581616 11657790 81OU11 Total resources expondad b) Grants, awards and prlces 2021 2020 From Restricted Funds: Bursaries and other grants From Unrestrlcled Funds.. Bursarias and other awards 346,542 311,847 Pago 26

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 cl Govemance Included In support Cosls: 2021 2020 Remuneration paid lo auditor lor audil services Remuneration paid lo auditor tor assurance services Remuneration paid lo auditor lor non-audil related services Reimbursement ol personal expenses lo Governors Other governance cosls 15,300 635 1,625 685 15.000 615 2,100 3,200 Course and travel expenses were claimed by 1 Governor12020'. 21. FINANCE AND OTHER COSTS 2021 2020 Bar¢k loan interest STAFF COSTS AND RELATED PARTY TRANSACTIONS 2021 2020 The aggregate payroll costs for the year were as tollows: Wages and salaries Social security costs Other Pension costs 8,983,625 930,830 1743 335 8,434,057 866.021 1682 454 Neither the Governors nor any persons connected with Ihem received any remuneyalion or other benefits loi their work on the Governing body. During the y8ar, one settlement agreemenl of £10,000 was paid. 2021 2020 Aggyegate employee benefits ol key management personnel Th8 number of higher paid employees was 2021 2020 No. Taxable emoluments band.. £60,001 - £70,000 £70,001 - £80,000 £80,001 - £90,000 £90,001 £100,000 £100,001 £110,000 £120.001 £130,000 The average numbei ol employees during the year was 30712020.. 301), whilst the average number ol employees calculated on a lull time equivalent basis was.. 2021 No. 129 26 2020 No. 127 28 Teaching Welfare Premises Support 62 63 Page 27

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 TANGIBLE FIXED ASSETS Asset8 under ¢on8irucllon FY8elLold Land & Buildlngs Flxlures & Flltino8 Cornpuler Sy51¢m & Cabllng Moior V8hl¢le$ Totgl Cost 1 Sep18rnb8r 2020 Addition8 Disposals Tran51sr 31 Auuusl 2021 24,e85,176 1,881,531 1197,8041 2.442.565 1,069,249 11,2001 18,984,066 316,773 2.279,799 325,282 944,484 170,227 1196,6041 24,262 351061 Depreclatlon 1 Sepi&Mber 2020 Chargp lor Year Eliminaled on disposals 31 August 2021 4,525,951 437,£00 1,330.744 245,843 853.138 126,368 24,262 6,734,095 810.011 Nel book valuo 31 August 2021 31 August 202Q The primary use ol all the tangible fixed assets is for direct charitable purposes. On incorporalion, two plots ol land were presumed to be permanent endowment. These were a plot of land conveyed between Alfred Bell Esq and the Ollicial Trustee ol Charity Land in trust for the Slockporl Grammar School and a plot ol land conveyed between Peter Peirce and the Olli¢lal Trusle8 ol Charity Land in trust lor the Stockport Grammar School. 11 is not possible lo distinguish th8 valLJ8 of these plots ol land from the Ir6ehoSd land and buildings noled above. 10. SECURITIES INvESTME￿s Deslgnaled Funds Re$lYlciod Funds Endowmént Fund$ Total 2021 Total 2020 Marf(81 value al 1 Septembgr Additions Disposals Net investmenl gainslllossesl Market valuè at 31 Augusi 2,175,050 397.137 1371,3761 475 838 2,207,131 396.739 1409,6511 476 988 109,974 10,362 15,0091 4,492,155 4,750,722 804,238 3,934,291 1786,0361 14,218.0671 975 789 2021 2020 Investments comprise.. Listed UK Equilies The investments are held as fixed assets which generate income lo be applied for the purposes described in notes 22 - 24 and are all listed on the UK stock exchang&. 5486146 4492155 Page 28

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 11. PROPERTY INVESTMENTS Deslgnaled Funds Total 2021 Total 2020 Valuation al I September 2020 Addition Revaluation gain Valuation al 31 August 2021 The investment property consists ol buildings held for inveslmeMI purposes, which are not used in the School's own aGtivilies, primarily residential property in Slockporl which are let out on the open markets. A formal valuation ol the properties was prepared by Michael Hart and Company Limited, Chartered SuNeyors in 2021 which valued these properlies at £1.115,000 in total. 854,186 854,186 745,000 109,186 280 814 260 814 12. STOCKS 2021 2020 Goods for resale and consumables 13. DEBTORS Due within one year: 2021 2020 Trade debtors: Fees outslanding Bad debt piovisio School lees Other deblors Deterred paymenls lo¥ supplles lor the following year Prepayments 67,347 304,225 245 608 58,617 87,474 41,725 348 544 38,461 72,373 53,995 301 833 14. CREDITORS- Amounts falllng due within one year 2021 2020 Bank loan Trade Creditors Taxation and social security Other creditors Fee d8POSlts (see note 161 Fees in advance (see note 17) Accruals and delerr8d income 29.133 642,664 213,135 18,363 54.949 287.738 372 047 84.754 583,271 205,209 53,394 48,160 366.848 462 099 Page 29

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 15. CREDITORS: Amounts falllng due alter one yeav 2021 2020 Bank loans Fee deposits (see note 16) Fees in advance 28,713 225,858 238,209 Al Ihe year end there was one12020.' one) bank loan from National Westminster Plc. This loan is secured over the investment pyoperty at 214-216 Buxlon Road, StockpDTI. The interest rate al 31 Augusl 2021 was 4.84 /.. The bank loans fall due as follows- 2021 2020 Between one and two years 16. FEE DEPOSITS Fee deposils are returned via the ollsel ol future lees lor alternatively as a donation lo the School) and are expected lo be applied as follows.. 2021 2020 In one yaar or less Between one and two years Between two and fiv6 years Over live years 54,949 19,350 76,134 142 725 48,160 17,850 76,598 27 Movements of fee deposits 2021 2020 Balance al 1 September New deposits received Deposits ulilised Balance 2131 August 274,018 145,950 126 810 268,467 135,020 129469 17. FEES IN ADVANCE Parents may enter into a conliacl lo pay the School luilion lee£ in advance. Th8 money may be returned, subject to specific conditions but, assuming the relevant pupils remain ill the School, advance lees will be applied as follows: 2021 2020 In on& year or less Belweell one and two years 287,738 342,466 Page 30

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Movements on advance fees- 2021 2020 Balance at 1 September New advance lees received Amounts ulilised ir payments Balance al 31 August 366,848 263,356 342 466 222,691 354,851 210894 18. FINANCIAL INSTRUMENTS 2021 2020 Finan¢lal assets Financial assets measured at lair value through incorne and expenditure Financial assets measured al lair value comp¥ise assets held as investments. 6,601,146 5,346,741 The School's income, expense, gains and losses in respect ol financial instruments are summarised below.. 2021 2020 Total investment income for financial assets measured at lair value through inGome and expenditure Net gainslllossesl on financial assets measured al falr value through income and expenditure 179,136 176,247 1.236,603 25,209 Impairment Ioss8s on finan¢tal assets measured at amortised cost 143,684 211,368 19. LEASES Al 31 August 2021 the lolal ol the School's future minimum leas8 income receivable under non- cancellable operating leases was.. 2021 2020 Within 1 year Within 1- 5 years Greater than 5 years 23,700 48,000 23,700 48,000 CAPITAL COMMITMENTS Al the year end the School had a capital commitment of £nil12020: £1,369,183). Page 31

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 21. NET ASSETS OF THE FUNDS OF THE CHARITY The Charity's net assets belong to the variou5 funds as follows.. Flxed Assets Inveslmènls Nel Currant Long term As581sl (Llablllllesl ILlablllllesl Fund Balances 2021 Endowment funds Reslyicled lunds Unreslricled funds 138,292 2,671,205 3 791649 4.661 451,100 2 067 585 142,953 3,122,305 24 630 579 021401 25 056 Comparative net assels of the funds ol the Charity- 2020-. Fixed Ass¥ls Inve$tmenls Net Current Long t8rm Assetsl (Llabilltlesl (Llabillllesl Fund Balances 2020 Endowment funds Resirieted funds Unresiiicted funds 109.969 2,207,131 3 029 241 10,583 497,056 2 991640 120,552 2,704.187 23 893 009 17951 081 278 953 22. ENDOWED FUNDS: MOVEMENTS IN THE YEAR At 1 Sept Ineomlng Amounls 2020 Rèsources Expended Investment Transf8rs Galns I ILoss&sl At31 August 2021 Permanent endowmants: Endowment Prize Funds Sykes Trust Fund 19,586 26,747 3,417 4,667 23,003 31,414 564 Comparativ& endowed fund - 2020-. Al 1 Sept Incoming Amounls Invgstment Transfers 2019 Resources Expended Gains I (Losses) A131 A¥Jgust 2020 Pérman&nt endowm&nts: Endowmènl Prize Funds Syk8s Trust Fund 19,162 26,167 424 580 19,5B6 26,747 668 12Q The Iwenty-two Prize Funds consist ol donations by individual donors. Incom8 ITOM the Funds is used to ollsel the cost ol providing prizes al the annual Prize Day. The Sykes Trust Fund is endowed funds lo generate income lor bursaries. Each Trust Fund is allocated ils proportion ol investment income and gains and losses and bears ils own expenses. Page 32

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 23. RESTRICTED FUNDS: MOVEMENTS IN THE YEAR Al 1 Sept Incomlng Amounts 2020 Resources Expended Investment Gains I (Losses) Transfers A131 August 2021 Benjamin Smith Fund 8ursary Appeal Prize funds Sykes Trusl Funds Sports Stockport Grammar Schoo1 Educational Foundation Bursary Roy Clough Fund Nicholas Henshall Stoplordian Trust Bursary Old Stopfordlans Fund Baxendale Bursary The Hallam Trust 100,230 1,405,307 9.028 350 868 2.912 147,909 1,131 1.886 16,637 231,895 1.575 119.779 1,662.903 10,604 350 868 1122,2081 11,3861 8,068 1,045,213 112,653 85,986 23,911 1,845 182.7821 179,6281 136,7981 11,272 1,197,500 96.575 208,004 18,875 11,997 34 23,397 111,9971 1501 123,3971 22,470 22,454 Cornparatlve restricted funds- 2020.. Al 1 Sept Incoming Amount$ 2019 R&sourcos Expended Investment Transfers Gains I (Losses) A131 Augusl 2020 Benjamin Smlth Fund Bursary Appèal Prlze funds Sykes Trust Funds Sports Slockport Grammar S¢hool Educallona1 Foundation Bursary Roy C5ough Fund Nlcholas Hen5hall Sloplordian Tiust Bursary Old Stoplordians Fund 61h Form quad bullding The Hallam Trust 96,734 1,321,574 8,832 350 868 2,860 167,167 1.108 1,702 1,250 11,4301 196,5341 11,1081 11,7Q21 11,2501 2,067 13,100 196 100,231 1,405,307 9.028 350 86B 8,068 1,095,592 155,850 80,388 25,441 3,742 180,3881 (79,1981 137,1311 8,068 1,045,213 112.653 3,378 19,8081 17.997 2.065 103,125 117,9971 13,4441 23,848 22.469 1103,1251 The John Benjamin Smith Exhibition Fund was established in 1880 to commemorate a former Mayor ol Slockpo¥l and benefaclor lo the School. Ils original purpose was to provide leaving scholarships lor boys going on lo University. Since 1981 awards have been made available to boys and girls largely to pyovide Education Travel Exhibitions. The Bursary Appeal fund was established following an appeal lor funds in 200110 raise funds lor the provision ol bursary assistance. The Sykes Trust Funds are generated from the endowed Sykes Trust Fund to provide bursaries. The Stockport Grammar School Educational Foundation funding is a donation lo be used lor bu¥saries. The Roy Clough Fund has been established from the generous legacy ot a lormey pupil lo provide bursaries. The Nicholas Henshall Fund has been established from the generous legacy ot a forrller pupil, Page 33

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 member ol stall and Governor lo provide bursaries. The Sloplordian Trust Bursary is a donatlon used lor bursaries. The Old Sloplordians Fund is held on behalf ol the Qld Stopfo¥dian Association IOSAI- The funds are to be used lo continue to support their work in promoting the School lo former pupils. The Baxendale Bursary lund was established aller the death of Alan Baxendale IOS 19421 and Ihe eslablishmenl of the AS Baxend21e Charllable Tlusl. The School ro¢eives assistance lo provlde bursaries lor pupils al the School. The Hallarll Trust is a one-oll support to provide assistance to a family experiencing linanclal difficullies. 24. UNRESTRICTED FUNDS., MOVEMENTS IN THE YEAR At 1 Sept Ineomlng 2020 Resources Amounls Expended Invèstment Translgrs Galns I {Lo$sesl A131 August 2021 Oaslgnated Funds-, Albert Johnston Fund Investment Fund General appeal The PilKlngton Fund 17.304 3,082,998 176,390 11,0001 1114,4681 161,0891 16,306 3,811,969 116,601 114,468 1,300 728,971 3,332,807 117,183 20360 202 16013381 1182,5561 747 L189 736,652 4,004.086 20 626 494 Geneyal Reservg Comparative unreslricled funds- 2020= At 1 S8pI Incomlng 2019 Resources Amounts Expended Inve$tm8ni Transler$ Galns I {Losses) At31 August 2020 Deslgnated Funds: Albert Johnston Fund Investment Fund General appeal ThÉ Pilkinglon Fund 18,775 3,089,772 150,214 29 84.190 26,176 11,5001 1107,8421 17,304 3,082,998 176.390 16,878 3,317,647 203210 112,255 15 166884 1115:S411 15.230 814 18,246 3,332.807 20 360 202 Genoral Res8Yve 103 125 The Albeyl Johnston Fund was 8slablished by way ol a collection following the death ol Albert Johnston, a former teacher ol the School, in 1981. The income from the Fund is used lo provide small travel awards for the winners of a competition among current school pupils. The Designated Investment Fund, established many years ago, was considerably enhanced in 1993 following a bequest from the sister ol a former pupil and was enhanced by a further glfl from the eslale of that former pupil. The Governors decided to create a fund which would be used lo provide financial assistance lo parents of PLJpils who fell into financial dilliculties. It is used lo provide bursaries to needy pupils lollowino the withdrawal ol the Assisted Places Scheme from September 1998. The School has received a generous donallon from the lamily ol Sara Pilkington IOS 20101. In memory ol Sara, the Governors have designated the funds to piovide support lor pupils who wish lo enter the sixth form. Page 34

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 The General Reserve fund is retained to cover the fixed assets and provide working capital. PENSION SCHEMES 25. The School partlcipates in the Teachers, Pension S¢heme (England and Wales) I'the TPS'I lor ils teaching stall. The pension charge lor the year includss contributions payable lo the TPS ol £1,487,982 12020.. £1,435,564) and al the year-end £Nil 12020 £Nill was accrued in respecl ol ¢onl¥ibution8 to this scheme. The TPS 18 an unlunded mulli-employer defined benefits pension scheme governed by the Teachers, Pension Scheme Flegulalions 2010 las amendedl and Th@ Teachers, Pension Scheme Regulations 2014 las amended). Members contribute on a'pay as you go, basis with contributions from members and the employer being credited to Ihe Exchequer. Reliremenl and olher pension benefits are paid by public funds provided by Parliament. The employer contribution rale is sel by the SeGrelary ol Slate following scheme valuations undertaken by the Government Actuary's Department. The most recenl aciuarial valuallon ol tho TPS was prepared as al 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rat8 lor the TPS WOLJld increase from 16.4D/o lo 23.6°/. IKOM 1 September 2019. Employers are also required to pay a scheme adminislralion18Vy 010.080/0 giving a lolal employer contribution rale o123.68Q/.. The 31 March 2016 Valuation Reporl was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied al 5 arch 2019. However, Ihe assumptions were considered and sel by the Department for Education prior lo the ruling in the 'McCloudlSargeanl case.. This case has required Ihe couils lo consider cases regarding the implemenlation of th8 2015 reforms lo Public Servlce Pensions including the Teach8rs' Pensions. On 27 June 2019 the Supreme Court denied the government permission lo appeal the Court of Appeal's judgment that Iransilional provisions introduced lo the reformed penslon scherlles in 2015 gave rise lo unlawful age discrimination. The government is respecllng the Court's decision and has said il will engage lully wlh the Employment Tribunal as well as employer and member ¥epresenlalives lo agroe how the discriminations will be remedied. The government announced on 4 February 2Q21 Ihal it intends lo proceed wth a deferred choi¢e underpln under which members will be able lo choos8 either legacy or relormed scheme benelils in resp8cI ol Iheir service during the period between 1 April 2015 and 31 March 2022 at the point they become payabl8. The TPS is subject to a cosl cap mechanism which was pul in place to protect taxpayers against unforeseen changes in scheme costs. The Chief S6crelary lo the Tieasury, having in 2018 announced that there would bo a ieview of this cost Gap mechanism, in January 2019 annDunced a pause to the cost cap mechanism following the Court ol Appeal's ruling in the Mccloudlsargeanl case and until Ihore is certainly about the value ol pensions lo employ&es from April 2015 onwards. The pause was lilled in July 2020, and a consullalion was launched on 24 June on proposed changes lo the cost control mechanism following a review by the Government Actuary. Followino the public consullalion, the Government have accepled three key proposals recommended by the Government Actuary, and are alming lo implemellt these changes in time for the 2020 valualions. In view ol the above rulings and decisions the assumptions used in Ihe 31 March 2016 Acluarial Valuation may become inappropriate. In this scenario, a valuation prepared in a¢cordance with revised benefits and suitably Tevised assumptions would yield different results than those contained in th8 Actuarial Valuatlon. Until a remedy lo the discrimination conclusion has bean determined by the Employment Tribunal it is nol possible lo conclude on any financial impact or lulure changes to the contribution rates of the TPS. Accordingly no provislon lor any additional past benefit pension costs is included in these financial slaterngnts. The Charity also runs a group personal pension scheme lor ils non-leaching stall. The cost lor the Page 35

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 year represents the Charity'8 Colltributions lo this scheme of £255,35312020'. £246,890) and al the year end £Nil12020'. £Nill was accrued in respect of contributions lo this scheme. RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH INFLOW FROM OPERATING ACTIVITIES 26. 2021 2020 Net Sncome lo¥ the repoitlng peyiod (as per the statement of financlal actlvltles) 1.378,089 44,188 Adlustments for: Depreciation charges Assets under conslruction written oll lo expenditure Gains on investments Dividends, interest and rents Irom inveslmenls Increase in stocks Decrease in debtors (Decreaselllncrease in creditors Interest paid on borrowings Net cash provlded by operating actlvitles 810,011 1,200 (1.236,603} (179,136) (3,514) 69,698 {130,2701 690,065 5,317 125,2091 (176,247) 112,980) 62,920 91,229 27. ANALYSIS OF CASH AND CASH EQUIVALENTS 2021 2020 Cash at bank Total Cash and cash equlvalents This includes funds for the next phase of the development of the facilities ol the school. 3607715 470 170 28. ANALYSIS OF CHANGES IN NET DEBT At 1 Septembev 2020 4,703,170 Cash flow$ Non-cash changes At31 August 2021 3,607,715 Cash at bank Debt due within 1 year Debt due aller 1 year 11.095,4551 184,7541 84,334 128,7131 129,1331 29. RELATED PARTY Durinu the year there were no related party Iransaclions other than those disclosed in note 8. Page 36

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 30. CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020 NotOS Unrestricted Funds R¢￿11Ct￿ En(Sowed Totsl Fund$ Funds F￿ndS Total Funds 2019 School Designated 2020 INCOME AND ENDOWMENTS FROM: Chariiabl8 Activille$ School lees Other aducalionaj incoffle (￿her ancillaiy trading incom8 13.110,275 66.634 889,141 13,910.275 66,634 889,141 14,149,582 85,840 1,4B7,857 Other trading 8¢llvitles Olhei Income Investment Fn¢om8 Volunlaiy Source$ Donations and legaoies 273.648 27.186 273,648 176,247 34,794 189,707 87,098 61.g69 349 082 374 239 26 912 Total In¢ome 112255 411 045 15 690 164 EXPENDITURE ON: Raislng Itjnds Fundraising costs Financino costs 5nv88tmenl management 10,364 7,134 10,364 7,134 72,091 13,408 11.495 7G,322 60,138 11,285 668 haritablts actlwltios Educalion and granttnaking 313097 15 16013847 Total expondlturè 1S 230 814 324 382 ￿20$ IThL2 NET INCOMING FUNDS FROM OPERATION BEFORE TRANSFERS AND INVESTMENT GAINSIILOSSESI 163,9301 13,086 8fj,663 16681 18,979 86,840 Galnslllo$se$) on In¥èstm6nts 10 18,246 8A33 11,9701 25,209 79,729 Translers between funds 24 NET INCOMÉ ANO MOVEMENT IN FUNDS 39.195 15.160 17,5291 12,6381 44.188 f66,569 Funds b8lanGes at 1 Sepiembei 20 321007 26 473 560 26 306 991 Funds balan¢8s al 31 Augusl 21 Page 37