2023-08-31-accounts

			CONTENTS
				Pages
Reference and administrative		details		1-3
Governors' report				4 —19
Independent Auditors'	report			20 —23
Statement offinancial	activities			24
Balance sheet				25
Cash flow statement				26
Notes forming part of	the financial		statements	27-42

DVISERS
Bankers		National Westminster PO Box13		Bank pic
		10Great Underbank
		Stockport
		SK1 1LT
Solicitors		Veale Wasbrough	Vizards
		Orchard Court
		Orchard Lane
		Bristol
		BS16WS
		SAS Daniels LLP
		30 Greek Street
		Stockport
		SK3 BAD
		Farrer 8 Co
		66 Lincoln's inn Fields
		London
		WC2A 3LH
		Schofield Sweeney
		Springfield House
		76 Wellington Street
		Leeds
		LS1 2AY
Auditors		Crows U.K. LLP Chartered Accountants
		Registered Auditors
		Black Country House
		Rounds Green Road
		Oldbury
		B692DG
Architects		10architect Ltd
		12 Hilton Street
		Manchester
		M1 1JF
Insurance	Brokers	Bridge Insurance	Brokers Ltd
		Cobac House
		14-16Charlotte	Street
		Manchester
		M1 4FL
Investment	Advisers	Rathbone Investment		Management
		Port of Liverpool	Building
		Pier Head
		Liverpool
		L3 1NW

	Notes	Unrestricted	Funds	Restricted	Endowed	Total Funds	Total Funds
				Funds	Funds
INCOME AND ENDOWMENTS		School	Designated	6	f	2023 6	2022 f
FRONE
Charitable Activities
School fees Other educational income Other ancillary Irading income	2 3 3	17,983,191 121,066 1,779,443				17,983,191 121,066 1,779,443	15,984,616 118,160 1,041,419
Other trading activities
Other income investment Income Voluntary Sources		68,996 52,321	144,056	68,279		68,996 264,656	39,613 166,463
Donations and legacies Total income	5	~20 005017	~tt 45 ~145 201	175420 2~43699		176565 ~20 393917	~2540 791 ~tg 891062
EXPENDITURE ON:
Raising funds
Fundraising casts Financing costs		54,085				54,085	29,672
Investment management			23,459	15,274	899	39,632	137 85,895
Charitable activities
Educaaon and grantmaklng		19308298	~98 867	~38493	-	~19545658	~170 4340
Total expenditure	6	~19362 383	122326	153767	899	~19639375	17190044
NET INCOMING FUNDS FROM
OPERATION BEFORE
TRANSFERS AND
INVESTMENT
GAINS/(LOSSES)		642,634	22,875	89,932	(899)	754,542	2,701,018
Gains/(losses) on investments	10		(47,590)	(44,900)	(4,944)	(97,434)	(567,990)
Transfers between funds NET INCOME AND MOVEMENT IN FUNDS	24	~38 000 ~257 63	385000 360285	45032	~5843	~657 108	~2133028
Funds balances at I September		2~2065 773	4~915911	~910798	~136383	~30 028 865	~27 896837
Funds balances et 31August	21	~22 32340	~5276 196	~2955 30	130540	~30 685 97	~30 02 865

	AS	AT 31 AUGUST	2023
			2023		2022
	Notes
FIXED ASSETS
Tangible Fixed Assets Securities Investments Property Investments	9 10 11		18,388,160 5,503,680 ~2315000 26,206,840		19,218,990 4,752,736 2315000 26,286,726
CURRENT ASSETS
Stocks	12	54,318		66,945
Debtors	13	636,313		1,801,244
Cash		~5917054		4 251 244
		6,607,685		6,119,433
CREDITORS: Amounts
falling due within one year	14	1 885 750		2 135986
NET CURRENT ASSETS			4721 935		3983447
Total Assets Less Current Liabilities			30,928,775		30,270,173
CREDITORS: Amounts falling due after one year	15		242 802		241 308
TOTAL NET ASSETS	21
ENDOWED FUNDS	22		130,540		136,383
RESTRICTED FUNDS	23		2,955,830		2,910,798
UNRESTRICTED FUNDS
Designated and general funds TOTAL FUNDS	24		27 599 693		26 951 6114 30~

				Notes	2023	2022
					6	6
Cash flows from operating activities:
Net cash provided by operating activities				26	2 294 557	1 417348
Cash flows from investing activities:
Dividends, interest and rents from investments Proceeds from the sale of investments Proceeds from the sale offixed assets Purchase ofinvestments Purchase of fixed assets					264,656 924,540 121,825 (1,772,918) ~766 860	166,463 989,672 7,200 (824,252) ~4003 632
Net cash used in investing activities					~620 747	~744 840
Cash flows from financing activities
Repayments of borrowing Interest paid on borrowings						(29,133) ~137
Net cash used in financing activities						~29270
Change in cash and cash entitlements		in the	reporting
pedoti					~1665810	643 529
Cash and cash equivalents at the	beginning		of the
reporting period				27	~4251 244	3607715
Cash and cash equivalents at the end perloti		of the	reporting	27	~	4~

over their estimated useful lives, on a straigh	t line basis, at the fo
Buildings: Computer system and cabling: Motor vehicles:	2'/o 33 33o/a 25'/o
Fixtures and Fittings:	10a/

The school's fee	Senior F	Juniorf	Nurseryf	2023f	2022f
income comprised:
Gross fees	15,263,453	3,878,737	202,077	19,344,267	17,245,311
Less: Total bursaries,
grants and allowances
from unrestricted funds				~1367 676 ~!~	~1266666

Other educational charitable	Other educational charitable	activities	2023f	2022
Entrance and registration Courses and sub-lettings	fees		31,160 89906	30,950 87210
Other ancillary activities
School meals Morning club School trips Fee interest received			1,105,664 2,200 671,459 120	1,025,438 1,292 13,761 928
Other Incoming resources
Other

INVESTMENT INCOME
			Total	Total
	Unrestricted	Restrictedf	2023 6	2022
Bank interest received	63,575	4,215	67,790	10,661
Dividends received	72,927	64,064	136,991	94,054
Investment property rental	59875 ~196377	68 279	59.875 ~264 656	61 748 166463
DONATIONS AND LEGACIES
			Tota I	Total
	Unrestrictedf	Restricted 6	2023 6	2022 6
Donation ofproperty from
Stockport Grammar School Educational Foundation				1,200,000
General appeal donations Legacy Bursary appeal donations Prize fund donations	1,145	160,225 38	1,145 160,225 38	1,223 1,000,000 234,413 38
Stopfordians				1,661
Bursaries from Stockport Grammar School Educational Foundation				90,000
Baxendale Bursary Stopfordian Trust Bursary Haliam Trust GMET Bursaries		4,405 800 1,333 ~8619	4,405 800 1,333 ~8619	12,123 1,333
	1 145	~175420	~176565	~2540 791

) Total expenditure
	Staff costs	Other	Depreciation	Total	Total
		costs F		2023 6	2022f
Costs ofgenerating funds: Financing costs (note 7) Investment management		39,632		39,632	137 85,895
Fundraising for voluntary resources		~54 085		~54 085	29672
Total costs ofgenerating funds:		~93717		~93717	115704
Charitable activities Teaching Welfare Premises Support costs and governance	10,854,627 689,618 177,643 1,141,212	1,212,147 1,022,544 2,074,298 1,251,454	741,609 143,146	12,066,774 1,712,162 2,993,550 2,535,812	11,176,344 1,651,138 2,265,555 1,624,446
Grants, awards and prizes (note 6 (b)) Total charitable expenditure	~12863100	~237 360 ~5797803	~884755	~237 360 ~tg 545658	356857 ~70 4340
Total resources expended

	b) Grants, awards and prices
						2023f	2022f
	From Restricted Funds:
	Bursaries and other grants From Unrestricted Funds:					138,493	312,404
	Bursaries and other awards					~98 867	44 453
	c) Governance included in support costs:
						2023f	2022f
	Remuneration paid to auditor for audit	services				16,700	16,370
	Remuneration paid to auditor for assurance			services		650	650
	Remuneration paid to auditor for non-audit related services Reimbursement of personal expenses to Governors					1,675 10,523	1,735 291
	Other governance costs					17330	21 361 4K'
	Course and travel expenses were claimed		by 6 Governors (2022:		2).
	FINANCE AND OTHER COSTS
						2023f	2022f
	Bank loan interest						137
8.	STAFF COSTS AND RELATED PARTY TRANSACTIONS
						2023f	2022f
	The aggregate payroll costs for the	year
	were as follows:
	Wages and salaries Social security costs				9,910,548 1,039,333		9,268,170 974,406
	Other Pension costs				1	913219	1 776939

During the year two settlement f10,000).	During the year two settlement f10,000).	agreements	agreements	totalling f26,998 were	paid (2022: one peymeni	paid (2022: one peymeni	of
					2023f	2022f
Aggregate employee	benefits	of key	management
personnel
The number of higher	paid employees		was		2023	2022
					No.	No.
Taxable emoluments	band:
f60,001 - f70,000					14
f70,001 - f80,000					1
f80,001 -F90,000					1
f90,001 - f100,000					2
f120,001 - f130,000					1

NGIBLE FIXED AS	SETS
	Assets under construction	Freehold Land &	Fixtures 8 Fittings	Computer System 8	Motor Vehicles	Total
		Buildings 8		Cabling 9
Cast 1 September 2022 And(Sons Disposals Transfer 31 August2023	148,252 4,982 ~142374 10860	22,868,538 ~22 8 538	3,314,465 22,932 (112,925) 142374 33366 46	1,077,326 138,936 1 216261	24,262 24 262	27,422,842 166,850 (112,925) 27476 767
Depreclauon 1 September 2022 Charge for year		5,402,294 438,544	1,862,660 303,067	914,736 143,144	24,262	8,203,852 884,755
Eliminated on &sposals 31 Augus12023		~584 838	2 165627	1 007880	24 262	9088 607
Net book value 31 August 2023	~10860	~17017 700	~1201219	~168381		8388 1
31 August 2022	148252	17456274	1 451 9t45	~16 589	-	~19218 0

			Designated	Total	Total
			Funds f	2023	2022
Valuation Addition Valuation	at at	1 September 2022 31 August 2023	2,315,000	2,315,000	1,115,000 1 200 000

Goads for resale and consumables	Goads for resale and consumables		2023f	2022f 6IL845
DEBTORS
Due within one year:
Trade debtors:			2023f	2022f
Fees outstanding Bad debt provision School fees Other debtors and accrued income Deferred payments for supplies for the following Prepayments		year	125,688 ~68811 56,877 228,635 97,840 ~252 961	60,754 ~39300 21,454 1,446,622 82,522 250 646
CREDITORS: Amounts falling	due within one	year
			2023	2022
Trade creditors Taxation and social security Fee deposits (see note 16) Fees in advance (see note 17) Other creditors Accruals and deferred income			701,863 240,806 54,150 364,263 15,118 509550	581,601 237,638 65,012 180,817 37,128 7 033790

Fee deposits are returned via the offset School) and are expected to be applied	of future fees as follows:	(or alternativel	y as a donatio	n to the
			2023f	2022
In one year or less Between one and two years Between two and five years Over five years			54,150 121,500 ~121 302	65,012 26,833 70,672 143803
Movements offee deposits
			2023 6	2022f
Balance at 1 September New deposits received Deposits utilised			306,320 152,139 ~161 507	293,158 157,100 ~143938
Balance at 31 August
FEESIN ADVANCE
Parents may enter into a contract to pay the School returned, subject to specific conditions but, assuming		tuition fees in the relevant	advance. The pupils remain	money may be in the School,
advance fees will be applied as follows:
			2023	2022
			6
In one year or less			~364 263
Movements on advance fees:
			2023f	2022
Balance at 1 September New advance fees received Amounts utilised in payments Balance at 31 August			180,817 364,263 ~180 817 ~364263	299,585 168,970 ~287 738

		2023f	2022 F
Financial assets
Financial assets measured income and expenditure	at fair value through	7,818,680	7,067,736

The Schools inc are summarised	ome, expens below:	e, gains and loss	es in respect	of financial instruments
				2023f	2022 6
Total investment	income for financial assets
measured at fair	value through	income and
expenditure				264,656	166,463
Net (losses)/gains	on financial	assets measured	at
fair value through	income and	expenditure		(97,434)	(567,990)
Impairment (losses)/gains on		financial assets
measured at amortised cost				(30,422)	(12,242)

non-ca	nc	ellable operating leases was:	ncome receva	e under
			2023f	2022 F
Within Within	1 1	year —5years	105,140 ~315420	127,340 420 560
			420 560

At 31	August 2023 the total ofthe	August 2023 the total ofthe	School	has commitments	to make future minimum	lease
payments		under non-cancellable	operating	leases as follows:
Within Within	1 1	year —5years			2023 18,599 22 994	2022f 18,486 40 981
					41 593

e Charity's	net assets b	elong to the vario	elong to the vario	us funds as f	ollows:
		Fixed Assets		Investments	Net Current Assetsl	Long term (Liabilities)	Fund Balances
			f	f	(Liabilities)		2023f
Endowment funds Restricted funds Unrestricted funds				129,363 2,271,429 ~5888	1,177 684,401 4~036358	~242 802	130,540 2,955,830 ~27 599603 ~30 685973
omparative	net assets ofthe funds		ofthe	Charity —2022:
		Fixed Assets		Investments	Net Current Assetsl	Long term (Liabilities)	Fund Balances
				f	(Liabilities)f		2022 6
Endowment Restricted Unresldcted	funds funds funds	~1921	990	134,323 2,263,109 4670304	2,060 647,689 3 333698	~241 308	136,383 2,910,798 26681 684

ENDOWED FUNDS:	ENDOWED FUNDS:	MOVEMENTS	IN THE YEA	R
Permanent endowments: Endowment Prize Funds Sykes Trust Fund		At 1 Sept 2022 f 21,978 30,015 84 390 1~383	Incoming Resources	Amounts Expended ~899 ~8	Investment Gains I (Losses)f (428) (586) ~3930	Transfers	At 31 August 2023 F 21,550 29,429 ~79561 JX4546
Comparative	endowed	fund —2022:
Permanent endowments:		At 1 Sept 2021 f	Incoming Resources	Amounts Expended	Investment Gains I (Losses)f	Transfers	At 31 August 2022 F
Endowment Pnze Funds Sykes Trust	Fund	23,003 31,414 88 536		~545	(1,025) (1,399) ~3601		21,978 30,015 ~84 390

23. RESTRICTED	FUNDS: MOVEMENTS IN	FUNDS: MOVEMENTS IN	THE YEAR
Restricted:	At 1 Sept 2022	Incoming Resources	Amounts Expended	Investment Gains I	Transfers	At 31 August
Benjamin Smith Fund Bursary Appeal Prize funds Sykss Trust Funds Stockport Grammar	115,949 1,681,933 10,131 895	3,140 193,782 1,388 2,828	f (1,600) (75,341) (1,063)	(Losses)f (2,084) (26,018) (197)		2023f 115,405 1,774,356 11322 2,660
School Educational
Foundation Bursary Roy Clough Fund Nicholas Hsnshall Stopfordian Trust	18,823 1,005,720 56,893	25,636 1,390	23,789 (62,353) (27,043)	(15,048) (1,553)		42,612 953,955 29,687
Bursary Old Stopfordians Fund The Hsllam Trust Baxendals Trust	20,454	8,619 1,177 1,333	(8,810) (12) (1,333)			(191) 21,619
Bursaries		4405				~4405
Comparative restricted	funds —2022:
Restricted:	At 1 Sept 2021	Incoming Resources	Amounts Expended	Investment Gains I	Transfers	At 31 August
	f.	f	f	(Losses) f	f	2022f
Benjamin Smith Fund Bursary Appeal Prize funds Sykss Trust Funds Sports Stockport Grammar	119,779 1,662,903 10,604 350 868	3,010 258,840 1,166 1,948	(1,850) (102,662) (1,166) (1,403) (868)	(4,990) (137,148) (473)		115,949 1,681,933 10,131 895
School Educational
Foundation Bursary Roy Clough Fund Nicholas Hsnshall Stopfordian Trust	11,272 1,197,500 96,575	90,000 21,327 1,374	(82,449) (84,683) (36,976)	(128,424) (4,080)		18,823 1,005,720 56,893
Bursary Old Stopfordians Fund 6s Form quad building The Hellam Trust	22,454	1,689 ~333 12,123	(3,689) ~1333 (12,123)			20,454

24. UNRESTRIC	TED FUNDS:	INOVEMENTS	IN THE YEAR
Designated Funds:	At 1 Sept 2022	Incoming Resources	Amounts Expended	Investment Gains I (Losses) 8	Transfers	6	At 31 August 2023 6
Albert Johnston Fund Investment Fund General appeal The Pilkington Fund	15,061 4,727,344 118,190 ~55 316 4,915,911	147 133,870 9,834 ~1350 145,201	(1,618) (118,505) (122,326)	(46,663) ~927 (47,590)	385,000		13,590 5,081,046 128,024 ~53 536 5,276,196
General Reserve	22 065773	~20 005 017	19 62 83		85 000		~22 323 407
Comparative unrestricted funds —2022:
Designated Funds:	At 1 Sept 2021	Incoming Resources	Amounts Expended	Investment Gains I (Losses)	Transfers		At 31 August 2022 6
Albert Johnston Fund Investment Fund General appeal The Pilkington Fund General Reserve	16,306 3,811,969 116,601 ~59 210 4,004,086 ~20 626 493	8 1,309,612 1,789 ~1339 1,312,748 ~18185 504	(1,253) (109,610) (200) ~01 (114,073) ~16 46 2	(284,627) ~2223 (286,850)			15,061 4,727,344 118,190 55316 4,915,911 22 065 773

RECONCILIATION OF NET INCOM OPERATING ACTIVITIES	E/(EXPENDITURE	) TO NET CASH IN	FLOW FROM
		2023f	2022 6
Net Income for the reporting period (as per the statement offinancial activities)		657,108	2,133,028
Adjustments for: Depreciation charges		884,755	886,043
Fixed asset donated by Stockport Foundation	Educational		(1,200,000)
Profit on fixed asset disposal Losses on investments Dividends, interest and rents from Decrease in stocks	investments	(8,900) 97,434 (264,656) 12,627	(7,200) 567,990 (166,463) 53
Decrease/(increase) in debtors (Decrease)/increase in creditors Interest paid on borrowings		1,164,931 (248,742)	(1,334,582) 538,342 137
Net cash provided by operating	activities
ANALYSIS OF CASH AND CASH EQUIVALENTS
		2023	2022
			6
Cash at bank		~5917054	4 251 244
Total cash and cash equivalents

ANALYSIS	OF CHANGES	IN NET DEBT
		At 1	Cash flows	Non-cash	At 31
Cash	at bank September 2022 4 251 244		1 665810	changes	August 2023 5917054

	Notes	Unrestricted	Funds		Restricted	Endowed	Total Funds	Total
					Funds	Funds		Funds
INCOME AND ENDOWMENTS		School	Designated	f	6	f.	2022 8	2021 E
FROM:
Charitable Activities
Schaal fees Other educagonal income Other anci0ary trading income	2 3 3	15,984,616 118,160 1,041,419					15,984,616 118,160 1,041,419	15,271,314 76,380 589,362
Other trading activities
Other income Investment income Voluntary Sources		39,613 1,696	111,525		53,242		39,613 166,463	70,092 179,136
Donatians and legades Total income	5	1 000 000 ~18185504	~1201223 ~1312748		~339568 392810		~2540 791 ~19891 062	~248 988 16435 272
EXPENDITURE ON:
Raising funds
Fundraising costs Flnandng costs Investmenl managwnenl		29,672 137	69,420		15,930		29,672 137 85,895	84,459 3,467 81,450
Charitable activities
Educat/on and grantmaking		16716415	~44 53		~13272		~1707 340	~16124410
Total expenditure	6	~16746 24	114073		329 202	545	~17 90044	~16293786
NET INCOMING FUNDS FROM
OPERATION BEFORE
TRANSFERS AND
INVESTMENT
GAINS/(LOSSES)		1,439,280	1,198,675		63,608	(545)	2,701,018	141,486
Gains/(losses) on investments	10		(286,850)		(275,115)	(6,025)	(567,990)	975,789
Gains/(losses) on Investment propert)r								260,814
Transfers between funds	24
NET INCOME AND MOVEMENT
IN FUNDS		1,439,280	911,825		(211,507)	(6,570)	2,133,028	1,378,089
Funds balances at 1 September		~20 626 493	~4004 086		3122305	142953	27895 837	26 617748
Funds balances at 31August	21	~22 065 73	~4915911		2 910798	136383	30 02IO 865	27 895 837