## ## ||||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|