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← Stockport Grammar School

2024-08-31-accounts

Schedule B

Charity number: 1120199 Company number: 6261525

STOCKPORT GRAMMAR SCHOOL

ANNUAL REPORT AND ACCOUNTS

For the year ended 31 August 2024

STOCKPORT GRAMMAR SCHOOL ANNUAL REPORT AND ACCOUNTS 2024

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STOCKPORT GRAMMAR SCHOOL ANNUAL REPORT AND ACCOUNTS 2024 WN 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 4120199. The registered address of the School (which comprises the Senior and Junior Schools) is Stockport Grammar School, Buxton Road, Stockport SK2 TAF.

The Governors of the School are also the Trustees, Directors and Members and are collectively referred to as Governors.

The names of the Governors at the date of signing the Report and/or those who served during the year are as set out below:

Co-optative Governors are appointed by the Nominative Governors are appointed by Board of Governors for a period of five years, after their respective nominating organisations for which they can be appointed for further five year up to two consecutive three-year periods. periods.

Ms Sam Lansbury and Ms Chris Muscutt both retired from the Board during the academic year. The Governors and staff give their heartfelt thanks to them for their long service, attendance at many school events and their wise counsel over many years. We still hope to welcome them at future school events. in June 2024 Governors made the decision to aim to have 2 Vice Chairs of Governors at any time with a view to one of those progressing through to Chair over time and thereby improving succession planning and Governor training.

STOCKPORT GRAMMAR SCHOOL ANNUAL REPORT AND ACCOUNTS 2024

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OFFICERS

Head Head of Junior School Bursar and Clerk to the Governors School Address

Ms S Capewell (appointed 1 September 2023) Mr MJR Copping Ms J Clague Stockport Grammar School Buxton Road Stockport SK2 7AF

The day to day running of the School is delegated to the Executive Team comprising the Head, the Head of the Junior School and the Bursar.

STOCKPORT GRAMMAR SCHOOL ANNUAL REPORT AND ACCOUNTS 2024 REFERENCE AND ADMINISTRATIVE DETAILS I—_—I

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ADVISERS Bankers

Bankers NationalWestminster Bank plc
PO Box 13
10 Great Underbank
Stockport
SK1 1LT
Solicitors VealeWasbrough Vizards
Orchard Court
Orchard Lane
Bristol
BS1 5WS
SAS Daniels LLP
30 Greek Street
Stockport
SK3 8AD
Farrer & Co
66 Lincoln’s Inn Fields
London
WC2A 3LH
Schofield Sweeney
Springfield House
76 Wellington Street
Leeds
LS1 2AY
Auditors CroweU.K.LLP
Chartered Accountants
Registered Auditors
34 Floor
56 Peter St
Manchester
M2 3NQ
Architects 10architect Ltd
12 Hilton Street
Manchester
M1 1JF
Insurance Brokers Bridge Insurance Brokers Ltd
Cobac House
14-16 Charlotte Street
Manchester
M1 4FL
Investment Advisers Rathbone Investment Management
Port of Liverpool Building
Pier Head
Liverpool
L31NW

Solicitors

Auditors

Architects

Insurance Brokers

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024 enh.OT PAUSE UL The Governors of the School, who are also the Directors of the Company, present their annual report for the year ended 31 August 2024, together with the audited accounts for the year, which have been prepared in accordance with company law and in compliance with the Charities SORP 2015.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The School was established in 1487 under the Will of the founder, Sir Edmund Shaa. It was subject to a Scheme approved by the Charity Commission on 14 February 1991, and amended by variations to the Scheme dated 15 September 1995, 9 January 1996 and 4 May 1999. A company limited by guarantee with charitable status called Stockport Grammar School was incorporated on 29 May 2007 with bespoke Memorandum and Articles of Association. The Governors were appointed as directors and members of the Company and are its charity trustees. The School undertaking and expendable assets of Stockport Grammar School, registered charity number 525936 were transferred to the Company at midnight on 31 August 2007 to form part of the corporate property of the Company. The Articles of Association were reviewed in 2015 and updated to be in line with current legislation.

Governing Body

There is a single governing body for the whole school which comprises the Senior and Junior Schools.

Recruitment and Training of Governors

A Governor search group reviews the composition and future membership of the Board. New Governors are inducted by way of interview with the Clerk to the Governors, who ensures that they are in possession of, and are aware of the implications of, a number of internal documents, Charity Commission guidance documents and the Scheme documents noted above. The Governors have continued a process of selfappraisal and are also encouraged to engage in continuing training during their period of office by attending appropriate external training courses and seminars organised by various external bodies.

The Governors have reviewed the Charity Governance Code for Trustees produced by the Charity Commission and were satisfied that they met the required standards in all areas but that the compliance would continue to be reviewed regularly.

Organisational Management

The School Governors, as Directors of the Company and the Trustees of the Charity, are legally responsible for the overall management and control of Stockport Grammar School, and meet at minimum four times a year. The work of implementing most of their policies is carried out by the members of the Management Committee who meet three times a year to consider the more detailed aspects of those matters which fall within the remit of the Governing body. The Management Committee is chaired by the Chair of Governors.

A full review of all Committees, their terms of reference and Schemes of Governance was undertaken during the academic year. Aside from Main Board Meetings and the Management Committee, the other principal Committees are Finance, Estates & Facilities (including Health and Safety & ICT -— previously referred to as the Building Committee), Education and External Relations. Each of these Committees meet as and when required. In addition, Governors meet with staff representatives once each year (and as required) under the umbrella of the Information and Consultation Committee. Further Committees exist to deal with Appeals, Governor Selection and Executive Team Remuneration. Governors review each year any potential conflicts of interest. Two Governors had children who were pupils in the School during the year, and declared an interest when relevant decisions were taken.

The day to day running of the School is delegated to the Executive Team comprising the Head, Ms S Capewell supported by Mr M J R Copping, Head of the Junior School and their Senior Leadership Teams (SLT), together with the Bursar Ms J Clague. The Heads and School Bursar attend when required meetings of the Board and the above Committees.

Remuneration for all staff is set by the Board and is reviewed annually with reference where possible to comparator schools to ensure that the School is aware of pay and employment conditions elsewhere and that staff are fairly and reasonably rewarded for their contribution to the work of the school. The Governors recognise that delivery of the School's charitable vision and purpose is primarily dependent on the key management personnel and that staff costs are the single largest element of charitable expenditure.

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Employment policy

The School is an equal opportunities employer. The School ensures job applications from disabled individuals are fully and fairly considered, with a focus on any training and employment requiremenis. Consultation with employees, or their representatives, has continued at all levels with the aim of taking the views of employees into account when decisions are made that are likely to affect their interests. Employees are made aware of the financial and economic performance of the School. An aim of the Governing Body is that the ethnicity of the staff should reflect that of its school community while cognisant that at the current time the sector as a whole find there are few applications received from more diverse backgrounds.

Communication with employees continues through normal management channels in a variety of forms and also through exceptional channels to apprise staff of current issues.

Governors’ Insurance In accordance with normal commercial practice the School has purchased insurance to protect Governors’ and Officers from claims arising from negligent acts, errors or omissions occurring whilst on school business. The insurance provides cover up to £5M on any one claim and the cost for the year ended 31 August 2024 was £3,412 of which the proportion relating to Governors is £1,090.

Relationships The School retains ownership of a company Stockport Grammar School (2007) Limited, established under the Companies Acts, which has not traded since incorporation. The School also has a close relationship with the Stopfordian Trust, a Registered Charity whose objectives include the provision of financial assistance to needy pupils in the School.

OBJECTIVES AND ACTIVITIES

Charitable Object The School's Object, as set out in the 2007 Scheme, is to advance education by the provision and conduct, in or near Stockport, of a school for boys and girls and insofar as it is incidental or ancillary, such other purposes for the benefit of the local community as shall be exclusively charitable.

Care, Community and Character 3. To develop a culture of kindness and community within the school, encompassing pupils, parents and staff.

In addition, in the Junior School their curriculum (and staff personal development) strategic intent is to;

Academic Ambition 1. To continue with curriculum changes in Y1 and Y2. 2. To implement the White Rose Maths Scheme in Y3-6 to ensure greater challenge and reasoning. 3. To provide whole staff INSET on Growth Mindset. 4. Development of pupil voice in school self-evaluation and improvement planning.

Care, Character and Community 1. To develop the role of Anti-Bullying Ambassadors in the Junior School.

Beyond the Classroom 1. To increase recruitment in Y3 and Y4 so that any surplus places are removed.

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024 eSVP EAU OE EUS

STRATEGIC REPORT

Strategies to achieve the year’s objectives

During this period, the main challenges posed were in relation to economic pressures combined with inflationary rises, further large increases in the National Living Wage and political uncertainty affecting the sector as a whole.

Academic Ambition — To review the current use and provision of IT and to develop an IT strategy for the school. The school reviewed the current use and provision of IT, with the support of external consultants alongside the expertise of our IT and Computer Science staff. A resulting outline IT strategy has been developed and first steps made: infrastructure and hardware has been updated; two committees have been instigated to develop the IT strategy further and to focus on the use of technology to support learning and teaching; resources and training have been put in place to ensure staff are able to make full use of IT to support learning in the classroom.

Academic Ambition — To improve the provision for SEND pupils through a focus on inclusion but providing specialist and targeted teaching where necessary. There were two key areas of development: a focus on processes, resources and structures; and a focus on training and support for staff. For the former, there was a review of our SEND policy and a development of a strategic plan for SEND. Following this, the accessibility plan for the school site was reviewed, the internal systems and processes for referrals and sharing information was streamlined, and the Learning Support department was re-structured and expanded. To enhance training and support for staff, the school academic focus for the academic year 2023-24 was on SEND: all staff were expected to read a core book on SEND (‘The inclusive classroom’); this was then used as a focus for staff training within INSET days and department meetings.

Care, Community and Character — To develop a culture of kindness and community within the school, encompassing pupils, parents and staff. Throughout the academic year 2023-24, the school reminded all members of the community of the importance of kindness, courtesy and respect: this message was repeated through assemblies, school newsletters and other key messaging opportunities. For staff, a ‘Staff Voice’ committee was introduced to ensure all staff (teaching and support) had a means of providing feedback or sharing concerns with the Head: this also provided an opportunity for staff to share ideas for creating greater collegiality amongst the staff body. The school also considered alternative behavioral strategies to support pupils and increase their understanding of the impact of their actions: Restorative Practice training was provided, initially for the pastoral team and then more widely; and the senior team investigated the Girls on Board and Working with Boys approaches. Finally, a staff working group with a particular focus on behaviour was introduced, which will continue to research, discuss and make recommendations about whole school approaches throughout the next academic year.

In addition, in the Junior School their curriculum (and staff personal development) strategic intent prioritised; Academic Ambition - To continue with curriculum changes in Y1 and Y2. Over the course of the academic year, changes were made to the teaching of phonics and our recent changes to the teaching of English and history and geography were further embedded. This included staff training and observations to ensure that the implementation was successful. Our ISI inspection in November 2023 indicated that the quality of teaching was strong and therefore validated the changes applied.

Academic Ambition — To implement the White Rose Math Scheme in Years 3-6 to ensure greater challenge and reasoning. The White Rose Maths scheme was initially inplemented in Y3-6 with Reception to Year 2 following on from September 2024 with additional staff training was provided to ensure that the implementation was successful and additional time was provided to the teacher in each year group responsible for the planning of mathematics. Lesson observations have indicated successful implementation and a strong focus on problem solving and reasoning. Academic Ambition - To provide whole school staff INSET on Growth Mindset. In September 2023, all staff received training in Growth Mindset during on INSET day. This has had a clear impact on our approach within the classroom which will, naturally, continue over the coming years.

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Academic Ambition — Development of pupil voice in school self-evaluation and improvement planning. The introduction of electronic questionnaires has enabled us to improve understanding of the children’s views in relation to many aspects of the school. The questionnaires have been successfully used in PSHE and mathematics over the course of the year which has enabled us to fine tune our development planning.

Care, Character and Community - To develop the role of Anti-Bullying Ambassadors in the Junior School. Over the course of the year, our anti-bullying ambassadors have received training with their counterparts in the Senior School and this initiative is now fully up and running. From September 2024, following pupil voice, they will be referred to as the ‘Kindness Crew’.

Beyond the Classroom — To increase recruitment in Y3 and Y4 so that any surplus places are removed. Our recruitment to Y3 and Y4 for the start of the September 2024 academic year was very successful with the highest number of children starting in Y3 for many years.

In the pandemic years 2020 through to 2022 the school offered extensive support to pupils throughout the periods of remote learning which has continued and been enhanced since the return to school. It is evident that because of the ongoing societal impact of lockdown, pupils require general pastoral support as well as additional provision of counselling for those experiencing significant difficulties with their well-being. The school has developed and refined pastoral systems to reflect these changes and to fill the void that may exist in terms of support to families external to schools where cuts have negatively impacted or reduced the support available and only the most urgent need is prioritized, frequently only after considerable delay.

School nurses, Heads of Year, Heads of Section, Pastoral Support Workers and the Deputy Head (Pastoral) are Youth Mental Health First Aiders trained by Mental Health First Aid (MHFA) England. Any new members of the team are offered training as a matter of course and the training is being extended each year to ensure greater awareness and capability within school.

Academic enrichment opportunities have fully returned to pre pandemic levels and the School sustains an excellent range of academic clubs, societies and competitions. Added to this is the full enrichment programme of Music, Drama and Outdoor Pursuits as well as Sport. The Duke of Edinburgh Scheme remains popular with unprecedented numbers taking part. We were delighted to maintain the Platinum Award in response to hard work on the Artsmark project and to establish the ArtsAward to recognise pupils’ achievements in the Arts.

The School celebrated success in maintaining the Eco Schools Green Flag Award with distinction! On reviewing the School’s application, the Eco-Schools England Team noted that SGS have “such a representative Eco-Committee” showing the “school’s excellent commitment to both the programme and the eco-cause” and they praised the “eager, enthusiastic volunteers”. Please see stockportgrammar.co.uk/news-and-events/news/eco-committee-delighted-to-achieve-green-flag-awarddistinction for more information. The Eco Schools committee has been diligently completing the annual school review showcasing their hard work and dedication - an essential part of the Green Flag application. From the review three key topics have been selected to focus on i.e. water, biodiversity and global citizenship. Therefore, most efforts over the academic year 2024 2025 are towards improving the school and local area when it comes to saving and reusing water, thereby increasing diversity of species and improving charitable actions. The aim is to maintain their prestigious Green Flag Award with a distinction in the new evaluation once again.

Pupils have also participated in co-curricular clubs and masterclass sessions across a range of subjects and have been supported in academic extension lessons and in their applications to top universities.

Pupils have continued to express their views through the School Councils and Eco Committees in the Junior and Senior Schools. These included feedback on catering provision, communication across the school, and consultation over homework, uniform and diversity as well as their work in charitable fundraising. The School has been successful in its application for the Platinum Artsmark award and established a creative hub to promote contact with local arts organisations and Schools, and has launched an Arts Award to allow pupils to gain a qualification and validate their artistic involvement. In the Directors report in year ended 31 August 2023 we were delighted to announce that Stockport

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT $A FOR THE YEAREIR E NDEDNV SIT31 AUGUST 2024UL

Grammar School has recently been notified of its successful bid for a place on Sadler’s Wells’ Making Moves choreography and dance performance project. This project was open to schools, youth groups and dance schools from across England and we are one of 48 groups to have been selected to participate. The project's aim is to raise the profile of dance being created in youth settings and will give pupils the chance to work with a renowned British choreographer — Stockport Grammar was assigned professional choreographer Danielle ‘Rhimes’ Lecointe. Our amazing dancers had huge cause to celebrate in the current year after making it to the final of a prestigious competition. After performing ‘The Place’ piece at the Making Moves Regional Platform at The Lowry Theatre, they were thrilled to be selected to perform at the National Platform at Sadler's Wells Theatre in London in July.

Pupils in the school have continued to achieve significant successes in a range of sports at local, county and national level. Additionally, the School offers many opportunities to take part in competitive team sports. Other non-sporting successes include many pupil achievement awards in Olympiad competitions, success in Young Enterprise competitions, and recognition of many individual achievements in art and music with pupils performing in regional and national orchestras and exhibiting work in national galleries.

As part of the continuing commitment to improve the facilities available across the whole site, over the summer period 2024 works included large scale maintenance expenditure to roofs with particular focus on the section of the Hallam roof over the science specialist classrooms, the main hall and the swimming pool. Whole areas of the school were redecorated and we have commenced a programme of replacing and upgrading furniture and chairs, many of which were over 40 years old! Across the school site, there was a huge investment in IT technology as the school establishes a standard design of IT equipment in each teaching space, smart devices and positive changes in the learning environment. The School continued its focus on creation of pleasant spaces for pupils and staff and significant works were carried out to improve outdoor facilities. The School also embarked on a large project to completely refurbish the extremely old toilet facilities in the Hallam building and huge thanks go to the Student Committee as they showed real maturity and energy in assisting with myth busting and educating our community about the impressive new facilities being created.

Principal Activities of the Year

The School provides education in Stockport to boys and girls from the ages of 3-19.

In the academic year 2023/2024 the Senior School had an average of 1111 pupils (1155 in 2022/23) and the Junior School had an average of 386 pupils (397 in 2022/23). The number of staff employed during the year, including part time staff, shown as FTE’s was teaching Staff 161 (Senior 126, Junior 35) and nonteaching staff 70 (161 teaching staff in 2022/23 of which Senior 125, Junior 36 and non-teaching staff 66).

Public Benefit, Aims and Intended Impact The School’s public benefit aim is to provide an excellent independent education through a strong academic tradition and through developing wider social, moral and personal skills. These are encouraged through the development of a supportive community which places a strong emphasis on the individual development of boys and girls. Such an environment helps pupils to learn self-discipline, participate in and be enriched by the challenges of many extra-curricular activities which will contribute to their success in life beyond school and university by equipping them with high moral values, personal qualities and a thirst for knowledge to serve them all their lives and enable them to become worthwhile and responsible citizens.

In setting out policy and planning these activities the Governors have given careful consideration to the Charity Commission's general guidance on public benefit and in particular the requirement to demonstrate that public benefit for any charitable purpose where it had previously been presumed in the absence of evidence to the contrary.

Through the External Relations Department the School has continued with its policy to promote and expand the School's links and role within the wider community of Stockport. Governors were delighted to welcome Aria Johnston in December 2022 when she joined the School as Head of Development. Aria works with alumni and the wider school community to increase meaningful experiences for pupils, expand opportunities and support the next generation of Old Stops by growing the bursary funds.

The School continues to provide means tested bursaries to children whose parents would not otherwise

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

be able to pay the fees. Transformational bursary assistance was provided to 10 of the 184 pupils joining the First Form in 2023 and 8.4% of pupils in the Senior School received means tested assistance during the year. There continues to be a wide programme of events and activities in place to raise funds in support of bursaries and bursary information is widely available in the School’s publications, on the website and in advertising for Open Events. The 15 bursary holders who left the sixth form of the school in 2024, achieved excellent academic success and secureda total of 28 A* and A grades. Of those going to University this year, selected courses of study include; Law, Medical Physics, Economics, Biochemistry, Natural Sciences, Accounting and Finance, Chinese and Spanish, Chemistry and European Social and Political Studies.

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Academic Support and wider public benefit
e Outreach events held at SGS and organised by External Relations in collaboration with Academic
departments;
invited children
attending
a) ee ees
schools
Days primary schools direct
Competitions schools
Competition
Year 2 Music Outreach | Children from state primary schools Parents book 13
(4 weeks) — Junior direct
School
Drama Outreach The Cast of the school production 1 All pupils
Cinderella visited Blackfriars special at the
needs school to perform for the students school.
and hold drama workshops. This
benefitted both schools and their pupils
and has established a link for the future.
e Four current pupils and two Old Stopfordians had their work chosen to be part of a permanent
display in Suffragette Square in Stockport following its redesign. The square was opened by the
Major of Stockport, Graham Greenhalgh.
e The Food Technology Department invited 15 food teachers from state and private sector schools
to attend a course run by an external provider.
e The English Department linked with the Stockport Talking Newspaper. The aim of the newspaper
is to assist those who are blind or visually impaired and keep them in touch with local news and
events — pupils were involved in recording readings for listeners.
e A Senior School teacher helps pupils and staff from state schools with university
applications/medical interviews.
e The Head of Sixth Form is part of the University of Manchester Schools and Colleges forum and
also on the Advisory Group at UCAS.
e ASenior School Chemistry teacher is an organizer of the Royal Society of Chemistry Manchester
Section and Chair of bench qualifying Competition (Chemquiz) Manchester. This involves around
36 voluntary hours per year and benefits around 160 pupils from 40 schools.
e The Head of Art is Team Leader and Senior Moderator for AQA A-level Art and Design and Lead
Assessment writer for AQA A-level Art and Design, responsible for producing an A level paper that
is used by schools and colleges nationally and internationally. He is also active on the National
Society for Education in Art and Design (NSEAD) and has a YouTube channel with demonstration
videos that are available as open access.
e A member of staff is the senior examiner for AQA Level Spanish schools sitting the A level
qualification.
e One staff member is Treasurer of the Association of Philosophy Teachers for the Inaugural
Executive Committee
e The Languages Department shared A-level resources with a local state high school that is starting
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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT $A FOREIN THE YEAR E NDEDINE 31VIE AA UGUST 2024UL to teach A-level languages for the first time — Devising and providing the material for them. e One staff member is on the UCAS Advisory Group - this group advises UCAS on developing admissions into Higher Education across different pathways. Sports support and wider public benefit

e
Aseniorschool teacher organizes numerous football fixtures against state schools and hostand
run the SSSSA athletics meeting involving seven state schools.
e
The PE department host festivals and tournaments for state schools in Rugby, Football, Netball
and Hockey.
e
The School hosted PE A Level moderation forthe first time in 2024 involving 5 schools and 30
students.
e
Another new initiative in the year was to host the Stockport School Netball Festival for senior
schools involving 15-20 schools and over200 pupils.
e
A Senior School teacher organizes fixtures with State Schools.
He is also the Cheshire
representative on England Schools Rugby committee; Cheshire Schools Rugby Competitions
Chair (organises all Cheshire Schools cups and tournaments, involving state and independent
schools).
He is Chair of England Schools Rugby Competitions Committee that oversee the
National Schools competitions at U15 and U18; Cheshire Schools representative on North West
Regional Player Pathway Group and sits on the Cheshire Rugby Disciplinary Panel.
Sits on the
England Rugby Education and Age Grade Committee as the England Schools Rugby
Representative; Sale Sharks U16 JuniorAcademyCoach.
Use ofStockport Grammar Facilities bythe General Public as part ofthe wider public benefitand
engagement with the local community
a
ae
The Wellspring Charity use the
No charge madeand staff
Provides supportto huge
premiseseachyearto hold their
The RotaryClub hold their
Nochargemadeand Stockport
The following commercial
Commercial rates are charged.
swimming lessons;
e
Norris Bank Swimming
Club
e
Acqua Seals
e
Trafford Artistic
Swimming Club
e
Lucy Hesford Swim
School
School Sports Hall hired by:
Lowercharges are made to
Provides supportto huge
High Lane Cricket Club
provide support to such small
numbersof local children.
Offerton Cricket Club
organisations.
North East Cheshire Cricket
Club
Kingsway
Power Netball Club
Carpark used by;
No charge made.
Provides supportto the local
Stockport Scouts Association for
town and its residents.
the annual St Georges Day
parade and service meeting
point.

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STOCKPORT GRAMMAR SCHOOL
GOVERNORS’ REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The school has also been used | No charge made. Requested
as a film location but in each small donation.
case this has been for low
budget bands or film crews with
local connections in return for
SGS pupils being able to have
involvement.
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e The use of the school swimming pool is at maximum capacity.
e Theuse of the main hall is close to maximum capacity.
e The ability of the School to further use its site (such as outdoor spaces) is restricted by rules
imposed regarding use of the outside spaces at weekends and use of flood lights after dark.
Stockport Grammar School staff — volunteer work in their own time
e Staff were asked to share information on anything they have been involved in (in a
work/professional or personal capacity) in the last 12 months that helps others beyond our school
community.
e They were asked if they could also share indicative information on the approximate number of
hours they spent on this and the number of children benefitting, if applicable. Where they have
done this, the numbers are included in the table below. Governors’ thanks go to the staff for their
genuine care and leadership demonstrating the value of giving something back to the community
and their focus on continual professional development.
Information provided by members of staff No. of hours|No. of children
inpast12 benefitting
onths
elie Rugby Coasing-sieet conch eeNapieReabywE FE
Local Cricket club (Stockport Georgians) - junior coach / manager. Children 20
Volunteerin the local aiarea Stockportbenefit.Rugby Cub. PSO OUrS HOO
Bredbury St Marks Cricket Club U9 manager - Manage, coach and umpire
he team - Children in the squad from across local primary schools.
Subject mentor for MMU trainee teachers, Art PGCE students and AQA
Moderator for A level.
Parent Governor — Governor for humanities - Worthington Primary School. BS |
Committee member fora primary school PTAin Marple—Treasurer. (60200
PBC Kids work at Poynton Baptist church - Head up the kids team at church. 102
Overseeing a team of leaders for the different groups, planning/delivering
essions. Arranging weekends away/activities outside a Sunday morning.
Arranging training for leaders e.g. safeguarding, first aid, health and safety.
It also involves working with the parents.
ee- Community of Poynton and around benefit.
etcArtwork exhibited in local Art galleries - presented and displayed own Artwor: O+ |100+
in the Manchester Art @ HOME Gallery Manchester and Stockport Art Open|
at Stockport Gallery. Participated in the Chorlton Art Festival 2024 and will
be participating in the Heaton Art Trail 2024 in Heaton Moor Stockport.
isitors to the galleries/festivals and art trails from the local community and
urther afield benefit.
alk on Art education to the Altrincham Trinity Guild — The Guild is made up
of (mostly) retired people. Gave talk because as well as having an interest
in art themselves, a number of them have grandchildren who are studying it
at school and they wanted to know how it is taught compared with when they|
had been pupils. Guild gave a donation of £30 to Christian Aid.
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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024 SSeee PPAF EU Information provided by members of staff No. of hours'No. of

Information provided by membersmembers of staffstaff No. of hours'No. of children of hours'No. of children
in past 12\benefitting
months
Sale Scouting - DistrictChair.
a
Prepared and led an interactive Science session to the 1st Marple Cubs to6
enablethemtocompletetheirscienceactivitybadge. Cubsand theirleaders
in the 1st Marple pack benefitted		 oe
umbathon for BreastCancer UK— Participator raising money.
5
Concerts with the Manchester Chorale in aid of Charities/fulfilling
the’
Manchester Chorale's Charitable Status aims - Choir member.
Local charities benefit
- eg Barnabus, also local communities attending
concerts and being exposed to different genres of music, two concerts with
local primary schools toencourageyoung people to sing.
Independent Custody Visitor forthe Police and Crime Commissionerfor
Lancashire— custody suites across East Lancashire. Unannounced visits
are made to police station custody suites on a weekly basis to ensurethe
orrect processes are being followed and thatthe rights ofthe detainees,
including anyjuveniles, are being upheld.
Inspect the facilities in the station and make a record ofwhere there are
issues that need further action. Interview detainees in their cells to check
on theirwelfare and thetreatment they have received since the time of
arrest. Cross check theirstatements with the police custody records. Attend
regular meetings with the area sergeants andACC to discuss issues
relating to crime and policing in the county.
. he benefit is to the community aswe are part ofthe quality control that the
police are following the correct processes andwe benefitthe detainees by
ensuring they areaware oftheir rights and are receiving fairtreatment in
custody.
Chair ofGovernors - Governance at BlackfriarsAcademy (Special Needs
Secondary School) in Newcastle-Under-Lyme.		 /4
GreavePrimarySchoolGovernor-Curriculumlead,PupilPremium
governor, Local Authority nominated governor.
olunteering ata local pre-school (StAlban's in Macclesfield) -Working
alongside the pre-school staff.		 4
rustee of local church. Church members and community projects thatthe
hurch supports benefit.		 2
ChairofGovernors—ManorParkPrimarySchool.
he Head ofDrama leads projects in the communityon behalfofLCEP
(Local Cultural Education Partnership) to help local children and young
people.		 A hare
orked with PeterAshworth and liaising with otherstakeholders to lead the’
rewriting ofthe Stockport Cultural Strategy. Cultural strategy will benefit all
members ofthe borough
orking with the Head ofMuseums, Galleriesand Libraries to develop
resources for schools to visitvenues as a learning experience— this will
benefitschoolsand
youngpeopleintheborough.

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The School continues to enjoy a national reputation for the quality of its delivery of the Duke of Edinburgh Award Scheme and is the largest independent provider in the North West. The scheme has extended the opportunities for participation at gold and silver level with mountain biking and canoeing now available and there are now over three hundred and fifty pupils actively participating in the scheme. The scheme has a completion rate in excess of 80% which is well above the national average for the UK. Enrolment remains higher with over 85% of the 3rd year starting their DofE Bronze last year. Governors appreciate and celebrate the huge commitment of all staff who go above and beyond in their roles to enrich the lives of young people, to act as aspirational role models and ambassadors in the local community.

Grant-making Policy The Governors’ policy is to make bursary awards available to support an individual's educational potential and ensure that the opportunity for an education at the School is available to as wide a range of children as possible to join the School at 11+ or 16+.

The School endeavours to promote the availability of bursaries to the widest audience through its literature and information, together with the terms and conditions for awards, which are available to view on its website at www.stockportgrammar.co.uk. This year, the value of bursaries, music scholarships, allowances and other awards made to the School’s pupils out of unrestricted funds amounted to £1,112,482 (prior year £1,394,104) of which £1 ,208,911 were means tested bursaries, which was close to the upper target figure of 8% set by the Governors to allocate from gross fee income. Of the bursaries awarded 83% were transformational awards with >80% fee remission.

Volunteers The Stopfordian Parents’ Association has continued to provide invaluable support to the School in terms

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT = FOR THESe YEAREES ENDED 31 AUGUST 2024

of fundraising and support of a wide variety of activities. The school is hugely appreciative of their return to a focus of surplus funds being donated to the bursary fund in recognition of the difference that this can make to the lives of young people.

ACHIEVEMENTS AND PERFORMANCE

Operational Performance

In the Senior School the objective is to ensure that all pupils maximise their academic potential. The School is immensely proud of the achievements of all of our pupils and their resilience at handling the exam process; at Advanced Level in 2024 71.3% achieved A, A or B grades and 48.1% at A and A. This is significantly higher than last year (2023: A-B — 65.6% and A/A — 38.2%) and compares favourably, especially at the top end, with the results from 2019, the last exam year before Covid when headline figures were A-B — 77.7% and A/A — 46.2%.

One pupil accepted their place at Oxford and recipients of transformational bursaries secured places at Russell Group universities. 91% of other pupils were successful in meeting the entry requirements of their chosen universities. While traditional courses such as Medicine, Dentistry, Veterinary Science, Architecture, Engineering and Law remain popular aspirational choices, we are also delighted to see students being equally successful in gaining Higher Apprenticeships supported by major employers. It is a pleasure to see our pupils following their passion and their talents in other areas as diverse as Finance, Economics, Astrophysics, English Literature, Psychology, Construction, Ecology and Wildlife Conservation, Drama and performing arts, Sport and Exercise Science, Music, Real Estate and Quantity Surveying. There are too many to name but we wish all the class of 2024 the very best for their futures and career success in whatever field they choose and hope that they remain in touch with our alumni community.

In 2024 at GCSE 63.1% of grades awarded were at 9/8/7 with 22.9% of entries at the highest grade 9. The overall results were judged to bea fair reflection of pupil abilities and the School is pleased that the exam boards have completed their phased move back to ‘normal’ exam situations for our pupils’ post pandemic. The majority of pupils took nine subjects at GCSE or IGCSE Level from a range of examining bodies.

The school value added according to CEM data was Positive and is improving over time.

In the Junior School, the table below indicates the outcomes in standardized tests undertaken by infant and junior school pupils in June 2024. These tests are undertaken ona termly basis and the outcomes are based on national benchmarks, percentage in ‘average’ range and percentage above in brackets. Our tracking system demonstrates that outcomes in the average range and above average range have continued to increase over the last few years.

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|||||||||| |---|---|---|---|---|---|---|---|---| |Standardised|Scores|- outcomes|based on|national|benchmarks|- percentage|in|‘average’| |range|and|percentage|above|in|brackets| |||PIRA (Reading)||PUMA(Maths)| |94%|(41%|above)|100% (59%|above)| |93%|(40%|above)|90%|(47%|above)| |94%|(47%|above)|100% (52%|above)| |94%|(46%|above)|100% (35%|above)| |95%|(60%|above)|98%|(70%|above)| |96%|(71%|above)|96%|(69%|above)| |a|94% (51% above)|97% (55% above)|

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100% of pupils passed the Y1 phonics screening check.

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Benchmarking The School participates each year in the benchmarking survey conducted by Baines Cutler Solutions Ltd where financial performance is measured against that of similar schools in the North of England. Comparing results for the survey conducted in 2024 the Governors are very encouraged by the performance of the school against those schools against which it is benchmarked.

Fundraising Performance No specific financial target was set by the Governors, but during the year under review, the amount raised was £235,665 (2023, £176,565). This included a generous donation from the Zochonis Charitable Trust of £75,000, an anonymous donation equivalent to funding the place for one transformational bursary place for a child at the school and a £5,000 donation from the SPA. The direct cost incurred in money-raising was £57,716. The School's aim is to ensure that strong relations continue to be maintained with alumni and other potential benefactors demonstrating this commitment with the appointment of an additional member of staff in December 2022 to develop the opportunities for fundraising both for bursaries and capital projects. The School has continued to benefit from a number of generous legacies from former pupils which support the bursary funds that enable pupils to join the school. During the year the School received a number of small legacies. Stockport Grammar School remains very grateful for the generous support provided by such donors. It enables talented children to join the school who can only attend with the assistance of a means-tested bursary. The Governors anticipate that significant future donations will arise from the legacy programme. One very special mention is made to the parents of Sara Pilkington who for the second time have funded screening for all age-appropriate pupils in the school that aims to detect and therefore prevent cardiac risk in the young.

The School had no fundraising activities requiring disclosure under 5162A of the Charities Act 2011.

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My FUNDRAISING IN 2023-24 (BY PERCENTAGE)
mw
Bursary Fund Zochonis
32.7% 31.7%
Legacies
6.9% Total funds raised:
one2% Adventure Award omeial
26.7%
a
Be. FUNDRAISING IN 2023-24 (BY VALUE)
we
£76,734.00 £75,000.60
£16,000.00Legacies Total funds raised:
BursaryEy]Other £235,335.00
£4,050.00 Adventure Award
£63,551.00
a
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—_—__

STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT areFOR THEaeeeeeeeses=smT8Tmme YEAR ENDED 31P A UGUSTUSE 2024

Investment Performance Total Return figures (gross unless otherwise stated) to 31st August 2024 are provided below:

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Portfolio
PIMFA Balanced
ARC Charity Steady Growth (net)
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Markets enjoyed a strong year to 31st August 2024 following a challenging period triggered initially by the Russian invasion of Ukraine in 2022. Over the course of the last 12 months, Inflationary pressures eased while the global economy remained resilient, allowing a less hawkish stance from central banks which provided a supportive backdrop for markets. This strength was most notable in growth-oriented investments and concentrated within a narrow cohort of USA technology stocks, which performed particularly strongly.

During the period the portfolio delivered a Total Return (capital growth and income) of +13.3% from with income coming in c.10% higher than in the previous financial year. Whilst the portfolios consolidated investment performance was slightly behind the market comparator (PIMFA Balanced index) over 12 months, it has performed strongly in absolute terms and is ahead of the peer group comparator (ARC index) and significantly ahead of the CP1+3% absolute measure of return.

Looking ahead, while the economic landscape has certainly improved and chances of a wider global recession have reduced, there is still a degree of market uncertainty with an economic slowdown anticipated and a potentially non-linear reduction in inflation impacting interest rate policy. Furthermore, with heighted volatility in the face of geopolitical tensions in the Middle East, Eastern Europe and the South China Sea, plus the upcoming change of US President a degree of caution is perhaps warranted.

Governors therefore continue to proceed carefully, adopting a well-diversified approach to portfolio construction, combining defensive companies which can grow and compound their earnings, high quality businesses with competitive advantages that are more exposed to the economic cycle and higher growth stocks which can benefit from both emerging and longer-term structural trends.

Factors outside the School’s Control

While some of the factors which most influence the School are within its own control (for example the curriculum on offer and the quality of teaching Staff), other factors are not. As well as fluctuations in the birth rate in its catchment area, Governors recognise that factors of the strength of the local and national economy, location and travel options continue to have a major impact on the recruitment of pupils at all levels.

The significant economic fluctuations, conflict in Ukraine, escalating conflict in Israel and Gaza, world recessionary pressures and the reality of new political policy initiatives present significant threats and limit the Governors’ ability to produce robust medium- and long-term plans. The continued recruitment of high calibre pupils in future years from a smaller market will require that the School enhances its marketing and recruitment strategy to differentiate itself from the strong South Manchester competition. To that end, we appreciate that our best ambassadors are our current parents, pupils and staff as well as alumni and encourage the continued promotion and positive sharing of pride to be part of the SGS community.

Stockport Grammar has low levels of debt and has been planning for predictable risks for a number of years. The challenge remains how to maintain the highest possible standards in all areas whilst facing significant cost increases; challenging decisions will need to be made and be reassured that the Governors, the Executive team and Senior Leadership Team recognise these factors in all their business planning and updating the risk register as part of their Governance of the School.

Last year’s worry is nowa reality; the political appetite is that the 'benefits' enjoyed by independent schools will be ended. As a consequence, from January 2025 the school will be mandated to charge VAT on school fees, from April 2025 the School will also lose the 80% Business Rates Relief which will also add

Sn

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

around £400k to operating costs each year. Most recently we are now notified of a significant increase in the National Living Wage and National Insurance. Governors wish to reassure parents and staff that while there is a commercial sensitivity in sharing full details, through extensive planning behind the scenes, all costs will be fully considered and potentially further trimmed to ensure that resilience plans are well developed. The Governors also continue to monitor whether a more appropriate legal structure for the School may producea better result for themselves, staff, and for parents and pupils. The Governors continue to encourage all members of the School to play an active role in the community and promote the work of the School and they encourage pupils from all areas of the town to apply to the School. We particularly lack applications from local non-affluent areas, where a funded place could be lifechanging for these children. The Governors are mindful of recent inspections undertaken and guidance issued by the Charity Commission with regard to public benefit.

FINANCIAL REVIEW

The School's net incoming resources on unrestricted funds before transfers or gains showed a net surplus for the year of £551,156 (2023, surplus of £642,634) after charging depreciation of £1 ,025,318 and receipt of bank interest of £130,977. Pupil numbers for the academic year 2023-2024 were slightly lower than budgeted, although this was offset by savings in other areas such as utilities and work to increase other sources of income. The school has continued to make savings in operating costs, but this was offset by unprecedented inflationary pressures relating to unavoidable costs such as insurance, food, fuel and coach travel. Governors are mindful that all of this is against a backdrop where families face ongoing financial difficulties and that families cannot continue to absorb the increases in the school’s operating costs. The School is further needing to spend more on bus subsidies in an effort to limit bus fare increases for families and keep school bus routes viable along with the cost of further pastoral support for pupils who need it adding an additional and increasing cost to running the school. Those families who demonstrated the need for further support were offered additional flexibility regarding the timing of fee payments.

Governors recognise that the continuing very significant economic pressures on parents may have an impact on future recruitment and retention. However, they note the huge commitment of families to Stockport Grammar and their children’s education and that the level of fee debt owed to the School has now significantly reduced. The Governors were also pleased to note the continuing value of the external letting of the swimming pool, sports hall and rental properties and the additional income they generate to support the work of the School.

Reserves and Reserves Policy

Notes 21 to 24 to the financial statements show the assets and liabilities attributable to the various types of fund and summarise the year’s movements on each fund. The School's total reserves of £31,903,163 at year end comprised £139,174 endowed funds, restricted funds of £3,274,622 and unrestricted funds of £28,489,367. Unrestricted funds, not designated by the Governors, amounted to £22,471,563 at 31 August 2024. Designated funds amounted to £6,017,804 and a description of the purpose of the designations is shown in note 24 to the financial statements. Free reserves, after deducting the net book value of tangible fixed assets, were £3,289,488.

The Governors have examined the School’s requirement for reserves and have taken the time to re write both the Reserves Policy Statement and the Reserves Policy during this academic year.

To fulfil Stockport Grammar School's charitable objectives the Governors’ acknowledge the importance of maintaining cash reserves to fund unforeseen fluctuations in income or expenses. The Governors strive to balance the necessity of the cash reserves against the significant costs of continuously upgrading the school premises, many of which are buildings of historic interest. The retention of current pupils and recruitment of future students is dependent on the employment of the best talent available and attention to the facilities and fabric of the buildings to provide the best possible setting for the pupils commensurate with the School's standing in the community. To maintain the necessary balance, it is policy to manage the Charity’s finances to maximise unrestricted funds not proposed, committed or invested in tangible fixed assets held by the School and that they should as a minimum be between 5% and 10% of turnover. This equates to holding reserves of between £1.05m and £2.1m (y/e 31 August 2024) as a minimum.

The School's policy is that its banking arrangements should be sufficient to support the continuing activities of the School in the short term given that parents are required to give one term’s notice of their intention to eeePage 17

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024 SESSNE PT AUF Ue withdraw a child from the School.

Funding Sources

The School relies almost entirely on its fee income received from parents to cover its expenditure and to pay for investment in buildings and resources. The only external sources of funds are normally by way of donations and these are shown as income to the School and in the Restricted Funds.

Investment Policy and Objectives

The objective for investing the reserve funds is to grow the value of the portfolios over the long term to provide financial support and sustainability, with particular focus on the provision of bursary funding for pupils of the school.

The Board aims to maximise the total return (a combination of income and capital growth) on the investment assets within an appropriate and agreed risk profile such that capital growth is achieved to at least keep pace with inflation and an income is generated to help support the school and its pupils. Due to the differing sizes across the funds, different approaches have been adopted. For the smaller funds (Henshall (wound down in July 2024), Zochonis, Sykes) the funds are invested in Rathbones’ Managed proposition; invested via Rathbones Multi Asset Portfolios. For the larger funds (Main, Bursary, Clough) these are invested in Rathbones Bespoke proposition, with the funds invested directly. The Board of Governors has assessed the risk tolerance for each individual fund, recognising their individual objectives, time horizons and risk appetite. In discussion with their investment manager, the funds have been assigned risk profiles based on a range of 1-6, where6 is highest tolerance for risk. Risk Level 4; Clough, Main Fund, Bursary Fund, Zochonis Fund, Sykes. Risk Level 3: Henshall (wound down in July 2024)

To provide the Board with the ability to analyse performance, the below reference benchmarks will be provided, giving a suitable comparator for both the investment approach and the risk profile of each of the funds. e Main, Bursary and Clough: MSC! PIMFA Balanced, CP1+3% e Zochonis and Sykes: Rathbones Benchmark 4, CPI+3% Rathbones have been appointed with a discretionary investment mandate, carrying out the day-to-day portfolio management within the agreed framework. The board will monitor the manager and the fund performance with reference to the MSCI PIMFA Balanced index (an industry market relative benchmark) and the long term (absolute) return measure of CP1+3%.

Principal Risks and Uncertainties The Board of Governors is responsible for the management of the risks faced by the School. The Governors view the most significant risk to the future of the School to be a possible future reduction in pupil numbers as a result of political policy to impose additional financial burdens on the sector. These may either be as a direct consequence of the current recessionary forces impacting on family’s ability or desire to commit to independent school education or due to government decisions which impact on the economic circumstances of families in the local area or force unavoidable fee increases via Government policy. Whilst levels of recruitment interest have remained strong and in some year groups increased as a result of concerns about the recent provision in the maintained sector, continued economic uncertainty, the factors of travel and geography which influence many families’ decisions, and current trends in post 16 education all contribute to the risks associated with pupil numbers in the future. In order to cope with strong inflationary pressures, fee increases in the last 2 years were by necessity higher than the long run average but mindful of this burden to families Governors aspire to keep future increases as low as possible. The increase in the employers’ contribution to the Teachers’ Pension Scheme from April 2024 had a significant impact on employment costs and therefore Governors commenced a consultation exercise with staff in June 2023; any new teaching colleagues commencing employment since September 2023 are now outside of the Teachers’ Pension Scheme in order to seek to manage the unavoidable high risk of these disproportionate future increases. Another critical risk common to all businesses remains the threat of cyber security attacks and the School is mindful of the need to continue to improve resilience and mitigate such risks as much as possible.

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Health and Safety risk management underpins many of the activities of the School, from daily management of infrastructure risks such as fire to personal risks, particularly when pupils are involved in off-site cocurricular activities. Careful planning and detailed risk assessment procedures are in place to minimise these. During the year the Governing Body reviewed and updated its strategic plan and the analysis of the risks to which the School could be exposed. These risks are regularly reviewed by the Executive Team and day to day management of those risks is delegated to the Senior Leaders within School. Risks are identified, assessed and controls established throughout the year.

The key controls used by the School include:

e Comprehensive strategic planning, budgeting and management accounting; e Established organisation structure and lines of reporting; ° Formal written policies including clear authorisation and approval levels; e Vetting procedures as required by law for the protection of the vulnerable; ° Terms of reference for all Committees; ° Formal agendas for all Committee and Board activity; and ° Safeguarding and Health and Safety being a key, standard item on all agendas for meetings.

Through the risk management process established for the School, the Governors are satisfied that the major risks identified have been adequately managed. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

DEVELOPMENT PLANS FOR FUTURE PERIODS

It remains the Governors’ and Head's intention to ensure that pupils continue to achieve excellent academic results that will enable them to gain entry to leading universities and prepare them for life beyond school whilst having the opportunity to participate in as wide a range of co-curricular activities as possible.

Across the School there are five key strategic areas of focus for the academic year 2024 2025;

|Opportunity
Supporting
Strivingfor
Lookingtothe
Embedded in
andAmbition | theIndividual | Improvement
Future
the Local
Community| |---| |Senior |Toreviewour
Tofurther
Toensure
Toincrease the | Toincrease
School| curriculum,
embedthe
excellenceand
school’s
connectionsand
including our
SEND
innovation in
engagement
collaborations
careers
teaching and
teaching and
with alumni of
within the local
provision, to
learning
learning with a
allagesand to
community.
ensure itmeets | strategies
particularfocus _| clarifythe
the needsofthe | within the
on developing
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ordinated
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To ensure a
using technology |development
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and fundraising. |outreach,
wellbeing
learning.
partnerships,
approach that
To review the
volunteering and
considers
Todevelopthe
school’s
charity links,
pastoral care, | school’s
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ensuring strong | withinthe local
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and thewider | professional
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excellent| |practice.| |NN
Page19|

STOCKPORTGRAMMARSCHOOL STOCKPORTGRAMMARSCHOOL STOCKPORTGRAMMARSCHOOL SCHOOL
GOVERNORS’ REPORT
FORTHEYEAR ENDED 31 AUGUST 2024
Ot
tr];UCTSSO
SF
Junior Review the co-
School		 curricular offer
and booking
system.		 Review the
PSHE ’Think
Equal’
scheme.		 Review staff
meeting
structure and
CPD
Implement the opportunities.
White Rose Review and
Maths scheme
in the Infants.		 improve the
appraisal
process.
Review the
approach to the
use ofO Track
for data entry
and tracking.
Further develop
the Forest
School
provision.
Implement the
Little Wandle
phonics
scheme.
To implement
Kagan
structures
across the
school to
develop more
opportunities for
collaborative
learning.

Embedded in the community

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

to participate in external initiatives to raise the quality of provision in the maintained sector in Stockport and South Manchester and prepare to respond if there are further national initiatives regarding collaborative partnerships. e The School will continue to work with other schools and organisations in the area to further its responsibility to contribute to the local community of Stockport. The School will continue to make every effort to promote awareness of the School’s Bursary Scheme to widen access to the School. The events of the last year have further highlighted and reinforced the Governors’ recognition of the economic pressures on parents caused by the current level of fees and the impact of external factors over which the School has no control which can add very significantly to the School’s operating costs. The Governors will continue to ensure that the fees for tuition offer excellent value for money as well as seeking ways to reduce costs wherever possible without compromising the high standards of teaching, pastoral care, co-curricular opportunities, the provision of other services, and the long-term investment in the site and the School's resources.

The Governors recognise the very difficult period this has been for the whole school community and wish to record their thanks to all those who have continued to support the School throughout the last few years, with particular thanks to all the staff, teaching and non-teaching who have worked tirelessly over the last yearto maintain the high standards of teaching and support for the pupils.

STREAMLINED ENERGY AND CARBON REPORTING

The School's greenhouse gas emissions and energy consumption are as follows:

[ilgu
UE
UK energy
use (1)kWh
Associated Greenhouse gas		 [ilgu
UE
UK energy
use (1)kWh
Associated Greenhouse gas		 OOD
3,241,320
613.87		 OA
3,600,761
680.09		 as le 02a
3,863,500
713.00		 as le 02a
3,863,500
713.00		 sO2
4,052,452
772.33
emissions (2) Tonnes CO2
equivalent
Intensity ratio		 - Emissions per 0.40 per pupil 0.43 per pupil 0.47 per pupil
pupils
Intensity ratio - Emissions per 0.03 persqm 0.03 persqm 0.04 persqm 0.04 persqm
area

The School has used the GHG Protocol Corporate Accounting and Reporting Standard (revised edition). Further emission factors were used from UK Government's GHG Conversion Factors for Company Reporting 2020. The School is delighted to see the progress being made since it started to monitor emissions and energy consumption in 2021.

UK energy use covers gas, electricity and transport fuel.

As predicted the total school roll flattened out over the last 42 months as the school is at maximum capacity. Work has continued in the year to move all operating controls for heating to a central BMS system so that it can also be effectively programmed to take account of school holidays and lower the maximum temperatures to reduce consumption, control costs and provide a healthy working environment. Unfortunately, in some legacy buildings such as Convent House and the main Hallam building, the old cast iron central heating loops are still in place and funds do not currently exist to deal with those legacy inefficient systems. The School has also been engaging with Stockport Local Authority since 2021 to investigate alternative sources of heat to be delivered via the A6 and enable resilience and a move off grid.

aPage 21

STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT $A FOREEN THE YEAR ENDEDINEPT31 AU SCUOEGUST UL 2024 SECTION 172 STATEMENT AND STAKEHOLDER ENGAGEMENT

The Governors have acted in accordance with their duties codified in law, which include their duty to act in the way in which they consider, in good faith, would be most likely to promote the success of the School for the benefit of its members as a whole, having regard to the stakeholders and matters set out in section 172 of the Companies Act 2006. In discharging their duties above, the Governors carefully consider, amongst other matters, the impact on and interest of other stakeholders in the School and factor these into their decision-making process.

Pupils Pupils benefit from the School’s excellent pastoral provision with staff placing as much importance on pupils’ all-round personal development as they do on academic progress.

Employees The School recognises that the qualities, skills and commitment of its employees play a major role in the School’s success. Regular briefings keep staff informed of School-wide developments, and wide-ranging employee benefits enhance their quality of life. Staff wellbeing remains a key focus as the increasing demands and pace of change that all employees now face in a modern world. Focus also remains on equality, diversity and inclusion where improvements can always be made. The introduction of the Employee Assistance Programme in 2022 to provide 24/7 support to staff and their immediate families has proved to be a valuable resource.

Parents The School recognises the many benefits of engaging with parents and has reimagined its communications with parents over the past twelve months. An historic reliance on written communication has given way to digital innovations such as streaming live and recorded audio-visual events and podcasts.

Community

The School is proud of its place in the local community and conscious that it has significantly beneficial impact on the local economy and on local cultural life.

STATEMENT OF GOVERNORS’ RESPONSIBILITIES

The Governors (who are also directors of Stockport Grammar School for the purposes of company law) are responsible for preparing the Governors’ report (including the strategic report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Governors to prepare financial statements for each financial year. Under company law the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Governors are required to:

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company transactions and disclose with reasonable accuracy at any time 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 for safeguarding the assets of the charitable company and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Sr

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STOCKPORT GRAMMAR SCHOOL GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

DISCLOSURE OF INFORMATION TO AUDITOR

Each of the persons who are Governors at the time when this Governors’ report is approved has confirmed that: e there is no relevant audit information of which the School's auditor is unaware, and e that Governors have taken all the steps that ought to have been taken in order to be aware of any information needed by the School's auditor in connection with preparing its report and to establish that the School’s auditor is aware of that information.

This report, incorporating the Strategic report, was approved by the Governors, as the company directors, on 10 December 2024 and signed on the board’s behalf by:

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rT 1 es Chair

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

Opinion

We have audited the financial statements of Stockport Grammar School (‘the charitable company’) for the year ended 31 August 2024 which comprise Statement of Financial Activities, the Balance sheet, the Statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our Opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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STOCKPORT GRAMMAR SCHOOL

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

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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STOCKPORT GRAMMAR SCHOOL INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF Cc SS STOCKPORTRR GRAMMAR SCHOOLOUI

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and 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 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.

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STOCKPORT GRAMMAR SCHOOL

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

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. i i[‘] _ Vick ist - Senior Statutory Auditor for and on behalf of Crowe U.K. LLP Statutory Auditor 3rd floor St Georges House 56 Peter St Manchester M2 3NQ Date: |b Sees_ LoaA

IPage 27

STOCKPORT GRAMMAR SCHOOL STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2024 eh,

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Notes|Unrestricted|Funds|Restricted|Endowed|Total|Funds|Total Funds| |Funds|Funds| |School|Designated|2024|2023| |INCOME AND|ENDOWMENTS|£|£|£|£|£|£| |FROM:| |Charitable|Activities| |School fees|2|19,093,848|-|-|-|19,093,848|17,983,191| |Other educational|income|3|178,728|-|-|-|178,728|121,066| |Other ancillary trading|income|3|1,801,002|-|-|-|1,801,002|1,779,443| |Other trading|activities| |Other income|3|Sa377T|-|-|-|53,377|68,996| |VoluntaryInvestmentSources income|4|131,604|222,473|72,286|-|426,363|264,656| |Donations and legacies|5|-|538|253,869|:|254,407|176,565| |Total income|21,258,559|223,011|326,155|:|21,807,725|20,393,917| |EXPENDITURE|ON:| |Raising|funds| |Fundraising|costs|57,716|-|-|-|57,716|54,085| |Investment management|-|30,529|14,035|748|45,312|39,632| |Charitable|activities| |Education and grantmaking|20,649,687|139,940|225,400|-|21,015,027|19,545,658| |Total expenditure|6|20,707,403|170,469|239,435|748|21,118,055|19,639,375| |NET|INCOMING|FUNDS|FROM| |OPERATION|BEFORE| |TRANSFERS|AND| |INVESTMENT| |GAINS/(LOSSES)|551,156|52,542|86,720|(748)|689,670|754,542| |Gains/(losses) on investments|9&10|-|299,656|218,482|9,382|527,520|(97,434)| |Transfer between funds|24|(403,000)|403,000|:|:|:|-| |NETIN|FUNDS INCOME AND MOVEMENT|148.156|755,198|305,202|8.634|1,217,190|657,108| |(restated)Funds balances|at|1|September|22,323,407|5,262,606|2,969,420|130,540|30,685,973|30,028,865| |Funds balances|at 31|August|21|22,471,563|6,017,804|3,274,622|139,174|31,903,163|30,685,973|

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The notes on pages 31 to 46 form part of these accounts.

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STOCKPORT GRAMMAR SCHOOL Company number 6261525 BALANCE SHEET AS AT 31 AUGUST 2024

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||||||||| |---|---|---|---|---|---|---|---| |2024|2023| |(restated)| |Notes|£|£|£|ai| |FIXED|ASSETS| |Tangible|Fixed|Assets|8|19,182,075|18,388,160| |Securities|Investments|9|6,352,905|5,503,680| |Property|Investments|10|_2,260,200:|2,315,000| |27,795,180|26,206,840| |CURRENT|ASSETS| |Fixed|assets|held|for|sale|11|39,200|-| |Stocks|12|60,718|54,318| |Debtors|13|989,355|636,313| |Cash|10,106,148|9,917,054| |11,195,421|6,607,685| |CREDITORS:|Amounts| |falling|due|within|one|year|14|(5,393,578)|(1,885,750)| |NET CURRENT ASSETS|5,801,903|4,721,935| |TOTAL|ASSETS|LESS| |CURRENT|LIABILITIES|33,597,083|30,928,775| |CREDITORS:|Amounts| |falling|due|after|one|year|15|{1,693,920}|(242,802)| |TOTAL|NET ASSETS|21|31,903,163|30,685,973| |ENDOWED|FUNDS|22|139,174|130,540| |RESTRICTED|FUNDS|23|3,274,622|2,969,420| |UNRESTRICTED|FUNDS| |Designated|and|general| |tunds|24|28,489,367|27,586,013| |TOTAL FUNDS|31,903,163|30,685,973|

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The financial statements were approved and authorised for issue by the Board on 10 December 2024 and signed on its behalf by:

yer JM RLee Chair

The notes on pages 31 to 46 form part of these accounts.

Page 29

;

STOCKPORT GRAMMAR SCHOOL CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024

Notes 2024 2023
£ ra
Cash flows from operating activities:
Net cash provided by operating activities 26 5,874,069 2,294,557
Cash flows from investing activities:
Dividends, interestand rents from investments
Proceedsfrom the sale ofinvestments		 426,363
4,129,936		 264,656
924,540
Proceeds from the sale offixed assets
Purchase ofinvestments		 44,000
(1,396,841}		 421,825
(1,772,918)
Purchase offixed assets (1,858,433) (166,850)
Netcash used in investing activities (1,684,975) (628,747)
Change in cash and cash entitlements in the reporting
period		 4,189,094 1,665,810
Cash and cash equivalents at the beginning of the
reporting period		 2F 5,917,054 4,251,244
Cash and cash equivalents at the end of the reporting
period		 27 10,406,148 §,917,054

The notes on pages 31 to 46 form part of these accounts.

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  1. STATEMENT OF ACCOUNTING POLICIES

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STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

1.1 Charity information

Stockport Grammar School is a Company limited by guarantee (registered number 6261525), which is registered in England and Wales. It's charity registration number is 1120199. The registered office and principal place of business is Buxton Road, Stockport, SK2 7AF.

Its principal activity is the provision of day schooling.

The members of the company are the Governors named on page 1. In the event of the School being wound up, the liability in respect of the guarantee is limited to £1 per member of the School.

1.2 Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) — (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial currency of the School is considered to be GBP because that is the currency of the primary economic environment in which the School operates.

Stockport Grammar School meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Having reviewed the funding facilities available to the School together with the expected ongoing demand for places and the School's future projected cash flows, the Governors have a reasonable expectation that the School has adequate resources to continue its activities for the foreseeable future and consider that there were no material uncertainties over the School's financial viability. Accordingly, they also continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Accounting and Reporting Responsibilities on page 22.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, Trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.

In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

In preparing the financial statements the trustees have considered the treatment of fee deposits. As per the standard terms and conditions fee deposits are offset against future fees or parents can elect to donate the deposit to the School. Therefore, the trustees have judged it appropriate to classify the fee deposits due as split between greater than one year and less than one year based on the expected repayment date.

aPage 31

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STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 $AEINE SE AUS OE UL 1.3 Fees and Similar Income

Fees receivable and charges for services and use of premises are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the School, but include contributions received from Restricted Funds for Scholarships, Bursaries and other grants.

1.4 Investment income

Investment income from dividends and bank balances is accounted for on an accruals basis. Income from investment properties is accounted for in the period to which the rental income relates.

1.5 Donations and legacies

Donations receivable for the general purposes of the Charity are credited to Unrestricted Funds. Donations for purposes restricted by the wishes of the donor are taken to Restricted Funds where these wishes are legally binding on the Governors, except that any amounts required to be retained as capital in accordance with the donor's wishes are accounted for instead as Endowments — permanent or expendable according to the nature of the restriction. Donations and legacies income is recognised when the conditions for entitlement, probability and measurement have been met.

1.6 Government grants Government grants are credited to the Statement of financial activities as the related expenditure is incurred. 1.7 Resources expended

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Expenditure is accrued as soon asa liability is considered probable discounted to present value
for longer term liabilities and has been included under expense categories that aggregate all costs
for allocation to activities. Where costs cannot be directly attributed to particular activities they
have been allocated ona basis consistent with the use of the resources. Liabilities are recognised
where there is a legal or constructive obligation committing the entities to the expenditure. The
irrecoverable element of VAT is included with the item of expense to which it relates.
Support costs are those costs that, whilst necessary to deliver an activity, do not themselves
produce or constitute the output of charitable activity. Included in support costs of the school are
budgeting and accounting, information technology, human resources and finance. School trip
expenditure is included under support costs.
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Governance costs comprise the costs of running the charity, including strategic planning for its future development, also internal and external audit, any legal advice for the Governors and all costs of complying with constitutional and statutory requirements such as the costs of Board and Committee meetings and of preparing statutory accounts and satisfying public accountability.

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1.8 Pension schemes

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STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

The Charity contributed to the Teachers’ Pension Defined Benefits Scheme at rates set by the Scheme Actuary and advised to the Board by the Scheme Administrator for teaching staff who joined pre-1 April 2024. The scheme is a multi-employer pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the School. In accordance with FRS102 therefore, the scheme is accounted for as a defined contribution scheme.

The Charity also contributes to a group personal pension scheme for all other staff. Contributions to all schemes are charged in the SOFA as they become payable in accordance with the rules of the schemes.

1.9 Tangible fixed assets

All fixed assets costing more than £5,000 are capitalised at historical cost.

Depreciation is provided towrite offthe cost less estimated residual value oftangible fixed assets
over their estimated useful lives, on a straight line basis, atthe following rates:
Buildings:
2%
Computer system and cabling:
33.33%
Motor vehicles:
25%
FixturesandFittings:
10%

Land is not depreciated.

A full year’s charge is made in the year in which the asset is brought into use but no charge is made in the year of disposal. 1.10 Investments

Security investments are valued in the balance sheet at their mid-market value at the balance sheet date. Investment management costs are accounted for as incidental costs of the acquisition or disposal where transaction-based, while investment income management costs are charged as expenditure out of the relevant income funds.

Investment properties are valued at intervals not exceeding 5 years on an open market existing use basis subject to current occupation and tenancies in place at that time by an appropriately qualified professional. In intervening years the Trustees value them by reference to market reports and government indices. The Statement of Financial Activities includes the net gains and losses arising on revaluations throughout the year.

1.11 Stock Stock is valued at the lower of cost and net realisable value.

1.12 Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method, less any impairment.

1.13 Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 OOEe SEARO ee

1.14 Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost with the exception of investments and cash at bank which are held at fair value. Financial assets held at amortised cost comprise trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions.

1.15 Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are available for use only in accordance with the donor’s wishes.

Investment income, gains and losses are allocated to the appropriate fund.

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|||||||||| |---|---|---|---|---|---|---|---|---| |2.|CHARITABLE|ACTIVITIES:|FEES|RECEIVABLE| |Senior|Junior|Nursery|2024|2023| |£|£|£|£|£| |The|school’s|fee| |income|comprised:| |Gross|fees|15,920,014|4,014,601|271,715|20,206,330|19,344,267| |Less:|Total|bursaries,| |grants|and|allowances| |from|unrestricted|funds|(1,112,482)|(1,361,076)| |19,093,848|= 17,983,191| |After School|Care fees|included|in|the|above amounted|to £73,463|(2023:|£70, 103).|

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Scholarships, bursaries and other awards were paid to 152 pupils (2023: 112). Within this means tested bursaries totalling £1,208,911 were paid to 93 pupils (2023: £1,335,517 to 108 pupils). 3. CHARITABLE ACTIVITIES: OTHER INCOME

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||||||| |---|---|---|---|---|---| |2024|2023| |Other educational|charitable|activities|£|£| |Entrance|and|registration|fees|73,659|31,160| |Courses|and|sub-lettings|105,069|89,906| |Other|ancillary|activities|178,728|121,066| |School|meals|1,153,434|1,105,664| |Morning|club|4,449|2,200| |School|trips|642,690|671,459| |Fee|interest|received|429|120| |1,801,002|1,779,443| |Other|incoming|resources| |Other|53,377|68,996|

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Page 34

  1. INVESTMENT INCOME

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STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

Total Total
Unrestricted
Restricted		 2024 2023
£ £ £ £
Bank interest received
Dividends received
Investment property rental		 146,381
96,948
110,748
354,077		 6,303
65,983
-
72,286		 152,684
162,931
110,748
426,363		 67,790
136,991
59.875
264,656
5. DONATIONSAND LEGACIES
Total Total
Unrestricted
£		 Restricted
£		 2024
£		 2023
£
General appeal donations
Bursaryappeal donations
Prizefund donations		 538
-
-		 -
159,653
3,788		 538
159,653
3,788		 1,145
160,225
38
Award funds donation
Baxendale Bursary
Old Stopfordians donation
Hallam Trust
Stopfordian Trust Bursary		 -
-
-
-
-
538		 73,551
-
2,606
-
14,271
253,869		 73,551
-
2,606
-
14,271
254,407		 -
4,405
800
1,333
8,619
176,565
6. ANALYSISOFTOTALRESOURCESEXPENDED
a)
Total expenditure
Staffcosts Other
costs		 Depreciation Total
2024		 Total
2023
£ £ £ £ £
Costs of generating funds:
Investment management		 - 45,312 - 45,312 39,632
Fundraising forvoluntary
resources		 - 57,716 - 57,716 54,085
Total costs ofgenerating
funds:		 - 103,028 : 103,028 93,717
Charitable activities
Teaching
Welfare
Premises
Supportcostsandgovernance		 11,785,287
771,000
190,783
1,296,734		 1,207,946
1,096,268
1,714,516
1,561,836		 -
-
772,813
252,505		 12,993,233
1,867,268
2,678,112
3,111,075		 12,066,774
1,712,162
2,993,550
2,535,812
Grants, awards and prizes
(note 6 (b))
Total charitableexpenditure		 =
14,043,804		 )=—_
365,339
_5,945,905		 —_= )=—-__365,339 ___237,360
1,025,318
21,015,027
_19,545,658
Totalresourcesexpended 14,043,804 6,048,933 =1,025,318 21,118,055 19,639,375
b)
Grants, awards and prices
2024 2023
£ £
From Restricted Funds:
Bursariesand other grants		 224,000 138,493
From Unrestricted Funds:
Bursaries and otherawards		 141,339 98,867
365,339 —237,360
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STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS SeeeTFORa THE YEAR ENDED 31 AUGUST 2024

c) Governance included in support costs:

2024 2023
Remuneration
paidtoauditorforauditservices
Remuneration
paid toauditorforassurance services
Remuneration paid to auditorfornon-audit related services
Reimbursement ofpersonal expenses toGovernors
Othergovernance costs		 £
17,535
735
1,838
11,539
18,680		 £
16,700
650
1,675
10,523
17,330
50,327 46,878

Course and travel expenses were claimed by 4 Governors (2023: 6).

STAFF COSTS AND RELATED PARTY TRANSACTIONS

2024 2023
The aggregate payroll costs fortheyear £ £
were as follows:
Wagesand salaries
Social security costs
Other Pension costs		 10,688,948
1,122,782
2,232,074		 9,910,548
1,039,333
1,913,219
-14,043,804 _12,863,100

Neither the Governors nor any persons connected with them received any remuneration or other benefits for their work on the Governing body. During the year two settlement agreements totalling £27,280 were paid (2023: two payments totalling £26,998). At the year end there was no outstanding balance (2023: £Nil).

2024 2023
Aggregateemployeebenefitsofkeymanagement
personnel		 £
960,136		 £
1,095,284
The number of higher paid employees was 2024 2023
Taxable emoluments band: No. No.
£60,001 - £70,000 23 14
£70,001 - £80,000 2 1
£80,001 - £90,000 3 1
£90,001 -£100,000 - 2
£100,001 - £110,000 1 -
£110,001 - £120,000 1 -
£120,001-£130,000 1 1

The average number of employees during the year was 323 (2023: 314), whilst the average number of employees calculated ona full time equivalent basis was:

2024 2023
Teaching
Welfare		 No.
161
23		 No.
142
25
Premises
Support		 6
41
231		 5
55
227

Page 36

  1. INVESTMENTS

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

8. TANGIBLE FIXED ASSETS

Assets under
construction
£		 Freehold
Land&
Buildings
£		 Fixtures
&Fittings
£		 Computer
System&
Cabling
£		 Motor
Vehicles
£		 Total
£
Cost
1 September 2023
Additions
Disposals
Transfer to fixed asset
held forsale		 10,860
1,220,709
-
-		 22,858,538
108,045
-
(39,200)		 3,366,846
70,317
-
-		 1,216,261
459,362
(309,393)
-		 24,262
-
(24,262)
-		 27,476,767
1,858,433
(333,655)
(39,200)
Transfer between
classes
31 August2024		 (804,430)
427,139		 -
_22,927,383		 804.430
4,241,593		 -
1,366,230		 :
-		 -
28,962,345
Depreciation
1 September2023
Charge foryear
Eliminatedondisposals
31 August2024		 -
-
-
-		 5,840,838
440,704
-
6,281,542		 2,165,627
332,109
=
_2,497,736		 1,057,880
252,505
(309,393)
4,000,992		 24,262
-
(24,262)
-		 9,088,607
1,025,318
(333,655)
9,780,270
Net book value
31 August2024		 427,139 16,645,841 1,743,857 365,238 - 19,182,075
31August2023 10,860 17,017,700 1,201,219 158,381 - 18,388,160

The primary use of all the tangible fixed assets is for direct charitable purposes. On incorporation, two plots of land were presumed to be permanent endowment. These werea plot of land conveyed between Alfred Bell Esq and the Official Trustee of Charity Land in trust for the Stockport Grammar School and a plot of land conveyed between Peter Peirce and the Official Trustee of Charity Land in trust for the Stockport Grammar School. It is not possible to distinguish the value of these plots of land from the freehold land and buildings noted above.

INVESTMENTS
Designated
Funds
£		 Restricted
Funds
£		 Endowment
Funds
£		 Total
2024
£		 Total
2023
=
Marketvalue at
1 September
Additions
Disposals
Netinvestment gains/(losses)		 3,102,888
1,099,594
(522,947)
354,456		 2,271,429
297,247
(606,989)
218,482		 129,363
-
:
9,382		 5,503,680
1,396,841
(1,129,936)
582,320		 4,752,736
1,772,918
(924,540)
(97,434)
Marketvalue at 31 August 4,033,991 2,180,169 138,745 6,352,905 5,503,680
2024 2023
£ £
Investments at market value
Listed UK Equities
Listed non-UK Equities
Cash on deposit		 comprise: 4,551,283
1,416,622
385,000
6,352,905		 4,608,107
895,573
-
5,503,680

The investments are held as fixed assets which generate income to be applied for the purposes described in notes 22 - 24.

a_ TESS Page 37

  1. PROPERLY INVESIMENIS
Designated
Funds		 Total
2024		 Total
2023
Valuation at
Revaluation
Valuationat31		 1 September2023
(net loss)
31August2024		 £
2,315,000
(54,800)
2,260,200		 £
2,315,000
(54,800)
2,260,200		 £
2,315,000
-
2,315,000

The investment property consists of buildings held for investment purposes, which are not used in the School's own activities. All of the properties are in Stockport and are let out on the open market. The last formal valuations of the properties were undertaken in October 2024. These were undertaken by Michael Hart and Company Limited, Chartered Surveyors and Garner & Sons, Chartered Surveyors. 11. FIXED ASSETS HELD FOR SALE

2024 2023
Assets
heldforsale		 £
39,200		 £
eo
12. STOCKS
2024 2023
Goods forresale andconsumables £
60,718		 £
54,318
13. DEBTORS
Due within one year:
2024 2023
Trade debtors: & £
Fees outstanding
Baddebt provision
School fees
Otherdebtorsand accrued income
Deferred payments forsupplies forthefollowing year
Prepayments		 141,969
(76,318)
65,651
434,842
134,848
354,014		 125,688
(68,811)
56,877
228,635
97,840
252,961
989,355 636,313
14, CREDITORS: Amounts falling due within oneyear
2024 2023
Trade creditors
Taxationand social security
Feedeposits (see note 16)
Fees in advance (see note 17)
Other creditors
Accrualsanddeferred income		 £
669,040
246,250
51,916
2,921,277
21,870
1,483,165
3,393,518		 E
701,863
240,806
54,150
364,263
15,118
__509,550
—1,885,750

Page 38

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

  1. CREDITORS: Amounts falling due after one year
2024 2023
£ £
Fee deposits (see note 16)
Fees in advance (see note 17)		 247,152
1,446,768
1,693,920		 242,802
-
242,802
  1. FEE DEPOSITS

Fee deposits are returned via the offset of future fees (or alternatively as a donation to the School) and are expected to be applied as follows:

2024 2023
£ £
In one year or less
Between two and fiveyears
Over five years		 51,916
125,850
121,302
299,068		 54,150
121,500
121,302
296,952
Movements offee deposits
2024 2023
£ £
Balance at
1 September
Newdeposits received
Deposits utilised
Balanceat31August		 296,952
147,620
(145,504)
299,068		 306,320
152,139
(161,507)
296,952
  1. FEES IN ADVANCE Parents may enter into a contract to pay the School tuition fees in advance. The money may be returned, subject to specific conditions but, assuming the relevant pupils remain in the School, advance fees will be applied as follows:
2024 2023
£ £
In one yearorless
Between one and two years		 2,921,277
749,241		 364,263
-
Between two and five years 697,527
4,368,045		 :
364,263
Movements on advance fees:
2024 2023
£ £
Balance at 1 September
Newadvance fees received		 364,263
4,368,045		 180,817
364,263
Amounts utilised in payments
Balanceat31August		 (364,263)
4,368,045		 (180,817)
364,263

ere Te rE rE Page 39

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 Seeee A ee

18. FINANCIAL INSTRUMENTS

2024 2023
£ £
Financial assets
Financial assets measured at fairvalue through income
andexpenditure 8,613,105 7,818,680

Financial assets measured at fair value comprise assets held as investments.

The School's income, expense, gains and losses in respect of financial instruments are summarised below:

2024 2023
£ £
Total investment income for financial assets measured at
fairvalue through income and expenditure
426,363 264,656
Net (losses)/gains on financial assets measured at fair
value through income and expenditure 527,520 (97,434)
Impairment (losses)/gains on financial assets measured at
amortisedcost (16,960) (30,422)

19. LEASES

At 31 August 2024 the total of the School's future minimum lease income receivable under noncancellable operating leases was:

cancellable operating leases was:
2024 2023
£ £
Within 1 year
Within 1 —5 years		 105,140
210,280		 105,140
315,420
315,420 420,560
At 31 August 2024 the total of the School has commitments to make future minimum lease
payments under non-cancellable operating leases as follows:
2024 2023
£ £
Within 1 year 24,780 18,599
Within 1 —5years 47,844 22,994
72,624 41,593

20. CAPITAL COMMITMENTS

At the year end the School had a capital commitment of £Nil (2023: £Nil).

Page 40

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STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

21. NET ASSETS OF THE FUNDS OF THE CHARITY

The Charity’s net assets belong to the various funds as follows:

Fixed Assets Investments NetCurrent Long term Fund
Assets/ (Liabilities) Balances
£ £ (Liabilities)
£		 £ 2024
£
Endowmentfunds
Restricted funds
Unrestricted funds		 -
-
19,182,075
19,182,075		 138,745
2,180,169
6,294,191
8,613,105		 429
1,094,453
4,707,021
5,801,903		 -
-
(1,693,920)
(1,693.920)		 139,174
3,274,622
28,489,367
31,903,163

Comparative net assets of the funds of the Charity — 2023 (restated):

Fixed Assets Investments NetCurrent Long term Fund
Assets/
(Liabilities)		 (Liabilities) Balances
2023
(restated)
£ £ £ £ £
Endowmentfunds
Restricted funds
Unrestricted funds		 -
-
18,388,160
18,388,160		 129,363
2,271,429
5,417,888
2,818,680		 1,177
697,991
4,022,767
4,721,935		 -
-
(242,802)
(242,802)		 130,540
2,969,420
27,586,013
30,685,973

22. ENDOWED FUNDS: MOVEMENTS IN THE YEAR

Permanent
endowments:		 At 1 Sept
2023.		 Incoming
Resources		 Amounts
Expended		 Investment
Gains /
(Losses)		 Transfers At31
August
2024
£ £ £ £ £ £
Endowment
Prize Funds
SykesTrustFund		 21,550
29,429
79,561		 -
-
-		 -
-
(748)		 -
2,369
7,013		 -
-
-		 21,550
31,798
85,826
Comparative endowed fund—2023:
Permanent
endowments:
Endowment
Prize Funds
Sykes TrustFund		 At1 Sept
2022
£
21,978
30,015
84,390
136,383		 Incoming
Resources
£
-
-
-
=		 Amounts’
Expended
£
-
-
(899)
(899)		 Investment
Gains /
(Losses)
fe
(428)
(586)
(3,930)
(4.944)		 Transfers
£
-
-
-		 At31
August
2023
£
21,550
29,429
79,561
130,540

The twenty-two Prize Funds consist of donations by individual donors. Income from the Funds is used to offset the cost of providing prizes at the annual Prize Day.

The Sykes Trust Fund is endowed funds to generate income for bursaries.

Each Trust Fund is allocated its proportion of investment income and gains and losses and bears its own expenses.

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asPage 41

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

23.
RESTRICTED FUNDS: MOVEMENTS IN THEYEAR
Restricted:
At1 Sept
Incoming
Amounts		 Investment Transfers At 31
2023
Resources
Expended
(restated)		 Gains /
(Losses)		 August
2024
£
£
£
AlbertJohnston Fund
13,590
240
(1,400)
Benjamin Smith Fund
115,405
3,273
-
BursaryAppeal
1,774,356
194,731
(94,353)
Prizefunds
11,322
4,933
-
Sykes Trust Funds
2,660
3,069
(2,321)
Stockport Grammar		 £
-
8,442
117,167
799
-		 £
-
-
-
-
-		 £
12,430
127,120
1,991,901
17,054
3,408
School Educational
Foundation Bursary
42,612
-
-
RoyClough Fund
953,955
27,323
(91,392)
Nicholas Henshall
29,687
1,394
(32,977)
Stopfordian Trust
Bursary
(191)
14,271
(14,271)
Old Stopfordians Fund
21,619
3,370
(2,721)
Baxendale Trust		 -
90,178
1,896
.
-		 -
-
-
“
-		 42,612
980,064
-
(191)
22,268
Bursaries
4,405
-
-
AdventureAwards
-
73,551
-		 -
-		 -
-		 4,405
73,551
Comparative restricted funds —2023:
Restricted:
At 1 Sept
Incoming
Amounts’		 Investment Transfers At 31
2022
Resources
Expended
(restated)		 Gains /
(Losses)		 August
2023
£
£
£		 £ £ (restated)
£
AlbertJohnston Fund
15,061
147
(1,618)
Benjamin Smith Fund
115,949
3,140
(1,600)
BursaryAppeal
1,681,933
193,782
(75,341)
Prize funds
10,131
1,388
-
Sykes Trust Funds
895
2,828
(1,063)
Stockport Grammar		 -
(2,084)
(26,018)
(197)
.		 -
-
-
-
:		 13,590
115,405
1,774,356
11,322
2,660
School Educational
Foundation Bursary
18,823
-
23,789
RoyClough Fund
1,005,720
25,636
(62,353)
Nicholas Henshall
56,893
1,390
(27,043)
Stopfordian Trust
Bursary
-
8,619
(8,810)
Old Stopfordians Fund
20,454
1,177
(12)
The Hallam Trust
-
1,334
(1,334)
Baxendale Trust		 -
(15,048)
(1,553)
-
-
-		 -
-
-
s
-
-		 42,612
953,955
29,687
(191)
21,619
-
Bursaries
-
4,405
:		 - : 4,405
2,925,859
_243.846
(155,385)		 —_(44,900) ———= 2,969,420
The AlbertJohnston Fundwas established bywayofa collection following the death ofAlbertJohnston, a
formerteacher ofthe School, in 1981. The income from the Fund is used to provide small travel awards
forthe winners ofa competition among current school pupils.
The John Benjamin Smith Exhibition Fund was established in 1880 to commemorate a former Mayor of
Stockport and benefactor to the School. Its original purposewas to provide leaving scholarships for boys
going on to University. Since 1981 awards have been made available to boys and girls largely to provide
Education Travel Exhibitions.
The Bursary Appeal fund was established following an appeal for funds in 2001 to raise funds for the
provisionofbursaryassistance.

The Sykes Trust Funds are generated from the endowed Sykes Trust Fund to provide bursaries.

Page 42

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STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

The Stockport Grammar School Educational Foundation funding is a donation to be used for bursaries. The Roy Clough Fund has been established from the generous legacy of a former pupil to provide bursaries. The Nicholas Henshall Fund was established from the generous legacy of a former pupil, member of staff and Governor to provide bursaries. This has now been fully spent in the year ended 31 August 2024.

The Stopfordian Trust Bursary is a donation used for bursaries.

The Old Stopfordians Fund is held on behalf of the Old Stopfordian Association (OSA). The funds are to be used to continue to support their work in promoting the School to former pupils. The Baxendale Bursary fund was established after the death of Alan Baxendale (OS 1942) and the establishment of the AS Baxendale Charitable Trust. The School receives assistance to provide bursaries for pupils at the School.

The Old Stopfordians Fund is held on behalf of theof thethe Old Stopfordian Association (OSA). The funds are to
be used to continue to support their workwork in promoting the School to former pupils.
The Baxendale Bursary fund was established after the death of Alan Baxendale (OS 1942) and the
establishment of the ASthe ASAS Baxendale Charitable Trust. The School receives assistance to provideprovide bursaries
for pupils at thethe School.		 The Old Stopfordians Fund is held on behalf of theof thethe Old Stopfordian Association (OSA). The funds are to
be used to continue to support their workwork in promoting the School to former pupils.
The Baxendale Bursary fund was established after the death of Alan Baxendale (OS 1942) and the
establishment of the ASthe ASAS Baxendale Charitable Trust. The School receives assistance to provideprovide bursaries
for pupils at thethe School.		 The Old Stopfordians Fund is held on behalf of theof thethe Old Stopfordian Association (OSA). The funds are to
be used to continue to support their workwork in promoting the School to former pupils.
The Baxendale Bursary fund was established after the death of Alan Baxendale (OS 1942) and the
establishment of the ASthe ASAS Baxendale Charitable Trust. The School receives assistance to provideprovide bursaries
for pupils at thethe School.		 The Old Stopfordians Fund is held on behalf of theof thethe Old Stopfordian Association (OSA). The funds are to
be used to continue to support their workwork in promoting the School to former pupils.
The Baxendale Bursary fund was established after the death of Alan Baxendale (OS 1942) and the
establishment of the ASthe ASAS Baxendale Charitable Trust. The School receives assistance to provideprovide bursaries
for pupils at thethe School.		 The Old Stopfordians Fund is held on behalf of theof thethe Old Stopfordian Association (OSA). The funds are to
be used to continue to support their workwork in promoting the School to former pupils.
The Baxendale Bursary fund was established after the death of Alan Baxendale (OS 1942) and the
establishment of the ASthe ASAS Baxendale Charitable Trust. The School receives assistance to provideprovide bursaries
for pupils at thethe School.
The Hallam Trust is a one-offsupport to provide assistance to a family experiencing financial difficulties.
TheAdventureAwardsfundwasestablished byformer pupils ofthe School in2024 tohonourtheir lifelong
passion forthe outdoors, climbing, and mountaineering whichbegan whilsttheywere current pupils.This
fund could cover both formal school organised and pupil organised trips outside of term time as well as
regularactivities (e.g. subsidisingweekly climbing).
24.
UNRESTRICTEDFUNDS:MOVEMENTSIN		 INTHEYEAR
Designated Funds:
At1Sept
Incoming
2023
Resources
(restated)
£
£		 Amounts
Expended
£		 Investment
Gains /
(Losses)
£		 Transfers
£		 At31
August
2024
£
Investment Fund
5,081,046
205,710
General appeal
128,024
15,941
The Pilkington Fund
53,536
1,360
5,262,606
223,011
General Reserve
22,323,407
21,258,559		 (166,901)
-
(3,568)
(170,469)
(20,707,403)		 295,896
-
3,760
299,656
:		 403,000
-
-
403,000
(403,000)		 5,818,751
143,965
55,088
6,017,804
22,471,563
27,586,013
21481570		 (20,877,872) -209.656 ______: .28,489.367
Comparative unrestricted funds— 2023:
Designated Funds:
At 1 Sept
Incoming
2022
Resources
(restated)		 Amounts
Expended		 Investment
Gains /
(Losses)		 Transfers At 31
August
2023
(restated)
£
£		 £ £ £ £
Investment Fund
4,727,344
133,870
General appeal
118,190
9,834		 (118,505)
-		 (46,663)
-		 385,000
-		 5,081,046
128,024
The Pilkington Fund
55,316
1,350
4,900,850
145,054
General Reserve
22,065,773
20,005,017
26,966,623
20,150,071		 (2,203)
(120,708)
(19,362,383)
_{19.483,091)		 (927)
(47,590)
-
(47,590)		 -
385,000
(385,000)
=		 53,536
5,262,606
22,323,407
27,586,013

The Designated Investment Fund, established many years ago, was considerably enhanced in 1993 following a bequest from the sister of a former pupil and was enhanced by a further gift from the estate of that former pupil. The Governors decided to create a fund which would be used to provide financial assistance to parents of pupils who fell into financial difficulties. It is used to provide bursaries to needy pupils following the withdrawal of the Assisted Places Scheme from September 1998. The School has received a generous donation from the family of Sara Pilkington (OS 2010). In memory of Sara, the Governors have designated the funds to provide support for pupils who wish to enter the sixth form. eeePage 43

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STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS ———_ YtFOR THEee YEARaS S E NDEDSS 31 A UGUST 2024MS The General Reserve fund is retained to cover the fixed assets and provide working capital.

The transfer was made to designate further funds towards bursaries.

  1. PENSION SCHEMES

The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff who joined pre-1 April 2024. The pension charge for the year includes contributions payable to the TPS of £1,849,616 (2023: £1,624, 856) and at the year-end £Nil (2023 - £Nil) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute ona “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. Following the McCloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefits, and in preparing the 2020 valuation has valued the ‘greater value’ benefits for groups of relevant members.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%. Given the increase in employer contribution rate and the possibility of further increases in the future, a decision was taken to proceed with Phased Withdrawal from the TPS from 1 April 2024, meaning those teachers joining the school on or after this date would not be eligible to join the TPS, but would instead be eligible to join the group personal pension scheme. The Charity also runs a group personal pension scheme for its non-teaching staff. The cost for the year represents the Charity’s contributions to this scheme of £382,458 (2023: £288,363) and at the year end £Nil (2023: £Nil) was accrued in respect of contributions to this scheme. 26. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH INFLOW FROM OPERATING ACTIVITIES

==> picture [346 x 163] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2024|2023| |£|£| |Net income|for the|reporting|period|(as|per| |the statement|of financial|activities)|1,217,190|657,108| |Adjustments|for:| |Depreciation|charges|1,025,318|884,755| |Profit on|fixed|asset disposal|(14,000)|(8,900)| |(Gains)/losses|on|investments|(527,520)|97,434| |Dividends,|interest and|rents|from|investments|(426,363)|(264,656)| |(Increase)/decrease|in|stocks|(6,400)|12,627| |(Increase)/decrease|in|debtors|(353,042)|1,164,931| |Increase/(decrease)|in|creditors|4,958,886|(248,742)| |Net cash|provided|by operating|activities|-5,874,069|2.29|7|

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Page 44

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

27. ANALYSIS OF CASH AND CASH EQUIVALENTS

2024 2023
£ £
Cash
Total		 at bank
cashandcashequivalents		 10,106,148
10,106,148		 5,917,054
5,917,054

This includes funds for the next phase of the development of the facilities of the school.

28. ANALYSIS OF CHANGES IN NET DEBT

At 1 Cash flows Non-cash At 31
Cash atbank bank September2023
5,917,054
5,917,054		 4,189,094
4,189,094		 changes
-
aes		 August2024
10,106,148
«200s06,148
  1. RELATED PARTY

During the year there were no related party transactions other than those disclosed in note 8.

OePage 45

STOCKPORT GRAMMAR SCHOOL NOTES TO THE ACCOUNTS ———.. oSFOR THE YEAR000 ENDED 31 AUGUSTNE 2024ee 30. CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 (restated)

Unrestricted Funds Unrestricted Funds Restricted Endowed Total Funds Total
INCOME AND ENDOWMENTS School
e		 Designated
£		 Funds
£		 Funds
£		 2023
£		 Funds
2022
£
FROM:
Charitable Activities
Schoolfees
Othereducational income
Otherancillarytrading income		 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
Otherincome
Investmentincome
VoluntarySources		 68,996
52,321		 -
143,909		 -
68,426		 -
.		 68,996
264,656		 39,613
166,463
Donationsand legacies
Total income		 :
20,005,017		 1,145
145,054		 175,420
243,846		 :
:		 176,565
20,393,917		 2,540,791
19,891,062
EXPENDITURE ON:
Raising funds
Fundraising costs
Financing costs
Investmentmanagement		 54,085
-
-		 -
-
23,459		 -
-
15,274		 .
-
899		 54,085
-
39,632		 29,672
137
85,895
Charitable activities
Educationandgrantmaking 19,308,298 97,249 140,111 : 19,545,658 17,074,340
Total expenditure 19,362,383 120,708 155,385 899 19,639,375 17,190,044
NET INCOMING FUNDS FROM
OPERATION BEFORE
TRANSFERS AND
INVESTMENT
GAINS/(LOSSES) 642,634 24,346 88,461 (899) 754,542 2,701,018
Gains/(losses)oninvestments - (47,590) (44,900) (4,944) (97,434) (567,990)
Transfersbetweenfunds
NET INCOMEAND MOVEMENT
IN FUNDS		 385,000
257,634		 385,000
___361,756		 __-
_43,561		 __-
5,843		 ee
557,108		 —__-
2,133,028
Funds balances at
1September
(restated)		 22,065,773 4,900,850 2,925,859 136,383 30,028,865 27,895,837
Fundsbalances at31 August
(restated)		 22,323,407 5,262,606 2,969,420 130,540 30,685,973 30,028,865

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