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2025-08-31-accounts

Registered number: 06261525 Charity number: 1120199

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Governors and advisers 1 - 3
Governors' report 4 - 14
Independent auditor's report on the financial statements 15 - 18
Statement of financial activities 19 - 20
Balance sheet 21 - 22
Statement of cash flows 23
Notes to the financial statements 24 - 51

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025

REFERENCE AND ADMINISTRATIVE DETAILS

The School is a company limited by guarantee, company number 6261525 and is registered with the Charity Commission under charity number 1120199. The registered address of the School (which comprises the Senior and Junior Schools) is Stockport Grammar School, Buxton Road, Stockport SK2 7AF.

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 * Ms H Tritschler, Chair (appointed 10 December 2024), The University of
Manchester Nominative Governor. Co-optative Governor from 15 October 2024.
*Mr A P Carr, Vice Chair
Ms S E Carroll
*Mr A C Simpson, Chair of Finance Committee
Mr N R Booth
*Mr J A Shackleton, Chair of Education Committee
*Mr T Firth, Safeguarding
Ms J E Smith
Mr T Potter
*Mr P N Brearley
Co-optative Governors *Mrs S L Book (appointed 10 December 2024)
Mr M K Whylie (appointed 14 October 2025)
Mr I Mcilwraith (appointed 14 October 2025)
Mr J M R Lee, Chair (resigned 10 December 2024)
Mr J A Gardiner, Chair of Building Committee (resigned 17 May 2025)

Co-optative Governors are appointed by the Board of Governors for a period of five years, after which they can be appointed for further five year periods.

Nominative Governors Ms K Carfrae (Old Stopfordians, Chair Estates & Facilities Committee) Ms D Harris (The Teaching Staff of the School) Mr J Millington (The Hallam Trust)

Nominative Governors are appointed by their respective nominating organisations for up to two consecutive three-year periods.

Mr Lee and Mr Gardiner 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 decided to have two 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.

Page 1

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

OFFICERS

Head Ms S Capewell Head of Junior School Mr M J R Copping Bursar and Clerk to the Governors Ms J Clague Interim Bursar Mr J M Spencer Pickup (appointed 23 June 2025) School Address 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.

Page 2

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee)

Company registered
number 06261525
Charity registered
number 1120199
Registered office Stockport Grammar School
Buxton Road
Stockport
Cheshire, SK2 7AF
Company secretary Joanne Clague
Independent auditor Crowe U.K. LLP
Statutory Auditor
3rd floor, St Georges House
56 Peter St
Manchester, M2 3NQ
Bankers National Westminister Bank plc
10 Great Underbank
Stockport, SK1 1LT
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 Advisors Rathbone Investment Management
Port of Liverpool Building
Pier Head
Liverpool, L3 1NW
Solicitors Veale Wasbrough Vizard
Orchard Court
Orchard Lane
Bristol, BS1 5WS
SAS Daniels LLP
30 Greek Street
Stockport, SK3 8AD
Schofield Sweeney
Springfield House
76 Wellington Street
Leeds, LS1 2AY

Page 3

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The Governors of the School, who are also the Directors of the Company, present their annual report for the year ended 31 August 2025, 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 self-appraisal 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 previous academic year. Aside from Main Board Meetings and the Management Committee, the other principal Committees are Finance, Estates & Facilities (including Health and Safety & ICT), Education and Marketing, Admissions & Development. 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 meetings of the Board and the 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

Page 4

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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.

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.

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 requirements. 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.

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.

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.

Rathbones have been appointed with a discretionary investment mandate, carrying out the day-to-day portfolio management within the agreed framework. The Board monitors 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 CPI+3%.

Risk management

The Board of Governors is responsible for the management of the risks faced by the School.

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 co-curricular 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:

Page 5

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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.

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 2025 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.

Objectives for the Year

The School has five key strategic pillars:

STRATEGIC REPORT

Principal activities

The School provides education in Stockport to boys and girls from the ages of 3 – 18.

In the academic year 2024/2025 the Senior School had an average of 1115 pupils (1111 in 2023/24) and the Junior School had an average of 392 pupils (386 in 2023/24). The number of staff employed during the year, including part time staff, shown as FTE’s was teaching Staff 153 (Senior 117, Junior 36) and non-teaching staff 67 (161 teaching staff in 2023/24 of which Senior 126, Junior 35 and non-teaching staff 70).

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.

Page 6

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Opportunity and Ambition

The school has updated the Sixth Form Curriculum so that the standard programme is 3 A Levels ‘plus one’: the ‘plus one’ could be an additional A Level (from a short list), EPQ, Core Maths AS Level or personal development course.

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 increasing participation.

Supporting the individual

Teaching staff continued to be given regular updates and guidance on effective strategies to support the full range of pupils in their classrooms. The Wellbeing Hub has been improved, bringing together provision for physical and mental health, as well as pupil wellbeing more generally.

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.

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.

Staff Voice meetings, with staff representatives and the Head, took place half termly. All staff were given the opportunity to share their views through an online form. Key trends raised from this feedback generated the topics for discussion in meetings.

Striving for Improvement

Teaching and Learning support was developed with teaching staff. Feedback was gathered at the end of the year to help improve engagement and impact.

The School offers many opportunities to take part in competitive team sports. There have also been individual pupil successes in regional, county and national appearances across a wide variety of sports. Other non-sporting successes include 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.

Looking to the future

More informal opportunities to meet with Old Stopfordians have been introduced. A formalised fundraising and development strategy has been developed. The Junior School has updated its marketing strategy.

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 EcoCommittee” showing the “school’s excellent commitment to both the programme and the eco-cause” and they praised the “eager, enthusiastic volunteers”.

Embedded in the community

There has been an ongoing focus on reaching out to local schools and charities.

Page 7

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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 Marketing, Admissions & Development Department the School has continued with its policy to promote and expand the School’s links and role within the wider community of Stockport. The Head of Development 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.

Bursaries

The School continues to provide means tested bursaries to children whose parents would not otherwise be able to pay the fees. This year, the value of bursaries, music scholarships, allowances and other awards made to the School’s pupils out of unrestricted funds amounted to £1,209,205 (prior year £1.11 million) of which £1,157,429 were means tested bursaries, which was close to the target figure set by the Governors. Of the bursaries awarded 84% were transformational awards with >80% fee remission. 7.6% 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.

Academic support and wider public benefit

Outreach events held at SGS and organised by External Relations in collaboration with Academic departments included Junior Art, Maths and Taster Days for local state and independent schools that attracted over 600 pupils. The Food Technology Department invited 15 food teachers from state and private sector schools to attend a training course. The Head of Sixth Form is part of the University of Manchester Schools and Colleges forum and also on the Advisory Group at UCAS.

Sports support and wider public benefit

The PE department hosted festivals and tournaments for state schools in Rugby, Football, Netball and Hockey. The School hosted the Stockport School Netball Festival for senior schools involving 15 schools and over 200 pupils.

The School provides extensive community use of its sports facilities such as swimming pool and indoor cricket nets. Great Moor State Primary School bring their children to use the swimming pool. There is a community letting programme for the swimming pool including Norris Bank Swimming Club, Trafford Artistic Swimming Club, Lucy Hesford Swim School. Around 700 local pupils receive swimming lessons each week due to this programme. The sports hall is let regularly to High Lane cricket Club, Offerton Cricket Club and North East Cheshire Cricket Club.

The ability of the School to further use its site is restricted by planning regulations regarding use of the outside spaces at weekends and use of flood lights after dark.

Voluntary and community support

Duke of Edinburgh pupils carry out voluntary work at various locations in the local area and the School is the largest independent provider in the North West. There are over three hundred and fifty pupils actively

Page 8

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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 high with over 85% of the 3rd year starting their DofE Bronze last year.

The School welcomed local residents onto the School site during the year to share plans for the future development of the School’s sports pavilion and gym which will be replaced as soon as funds permit.

Charity fundraising and community service

Both the Senior and Junior Schools have a Charity Club and the pupils work together with staff to choose the causes they would like to support and they can engage the SGS community. Previous successful fundraisers have included bake sales, non-uniform days, taking part in physical challenges and food collections. In total pupils raised almost £14,000; pupils in the Senior School supported the Wellspring, Chelwood Food Bank, Shoe Box Fairy, Children’s Book Project, Bare Necessities, EducAid, Francis House, British Heart Foundation, Toilet twining, Amnesty for Unicef. The Junior School were equally active and supported the Red Cross, The Christie, Children in Need, Comic Relief and the Wellspring.

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.

Volunteers

The Stopfordian Parents’ Association has continued to provide invaluable support to the School in terms 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 2025 76% achieved A, A or B grades and 41% at A and A.

Three pupils 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, Archaeology, English Literature, Psychology, International Relations, Marine Biology, Oceanography, Drama and Performing Arts, Sport and Exercise Science, Music, Costume Production and History of Art. We wish all our leavers the very best for their futures and career success in whatever field they chose and hope that they remain in touch with our alumni community.

In 2025 at GCSE 58% of grades awarded were at 9/8/7 with 19% of entries at the highest grade 9. The overall results were judged to be a 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 standardized tests are undertaken on a termly basis and the outcomes are assessed against national benchmarks. Our tracking system demonstrates that outcomes in the average range and above average range have continued to increase over the last few years.

Page 9

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Fundraising performance

No specific fundraising target was set by the Governors, but during the year under review, the amount raised was £182,267 (prior year: £235,665). This included a generous donation from the Zochonis Charitable Trust of £42,000, a £25,000 donation for the Boardman climbing wall, and a £10,000 donation from the SPA. The School’s aim is to ensure that strong relations continue to be maintained with alumni and other potential benefactors 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.

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

Investment Performance

Total Return figures (gross unless otherwise stated) to 31 August 2025 are provided below:

----- Start of picture text -----
1 Year
Portfolio 5.8
PIMFA Balanced 8.9
ARC Charity Steady Growth (net) 5.8
CPI + 3% 6.9
----- End of picture text -----

Markets were volatile over the period caused in large part by Trump's tariffs, conflict, political instability and varying degrees of excitement around Artificial Intelligence.

Inflation, as the major macroeconomic factor, remains 'sticky' despite easing from recent highs, making it difficult for Central Banks to ease interest rates. This is expected to moderate in the coming quarters and as such interest rate reductions will likely be supportive of risk assets and financial markets.

Despite this challenging backdrop, the portfolio showed continued growth (+5.8%) in the period, below the PIMFA Balanced benchmark, but in line with the peer group comparator, ARC Charity Steady Growth.

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.

Major risks

The Governors regularly update the high level risk assessment. The Governors oversee the actions that the School takes to mitigate these risks. The key risks identified include:

• Increased fees charged to parents including VAT, business rates and operating costs and the impact this may have on pupil numbers over the medium term.

• The measures that the School is taking to mitigate the risks from cyber attacks or major IT failures impacting education services and the School’s financial systems.

FINANCIAL REVIEW

The School’s net incoming resources on unrestricted funds before transfers or gains showed a net surplus for the year of £707,801 (2024: surplus of £551,156) after charging depreciation of £1,105,324 (2024: £1,025,318) and receipt of bank interest of £156,971 (2024: £130,977). Pupil numbers for the academic year 2024-2025 were slightly lower than budgeted, although this was offset by savings in other areas such as utilities and work to

Page 10

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

increase other sources of income. The school has continued to make savings in operating costs, but this was offset by 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.

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.

Free reserves policy

Notes 26 to 28 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 £32,884,639 (2024: £31,903,163) at year end comprised £140,104 endowed funds (2024: £139,174), restricted funds of £3,417,632 (2024: £3,274,622) and unrestricted funds of £29,326,903 (2024: £28,489,367). Unrestricted funds, not designated by the Governors, amounted to £23,142,062 at 31 August 2025 (2024: £22,471,563). Designated funds amounted to £6,184,841 (2024: £6,017,804) and a description of the purpose of the designations is shown in note 26 to the financial statements. Free reserves, after deducting the net book value of tangible fixed assets, were £4,381,983 (2024: £3,289,488).

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. To maintain the necessary balance, it is policy to manage the Charity’s finances to ensure unrestricted funds should be a minimum of 10% of turnover. This equates to holding reserves of £2.29m.

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.

FUTURE PLANS

It is 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 medium term:

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STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Opportunity and Supporting the Striving for Looking to the Embedded in the
Ambition Individual Improvement Future Local Community
To embed and To coordinate pupil To review and update To develop a culture To develop a co-
review the new wellbeing across the whole school of philanthropy ordinated outreach
Sixth Form the school and to approach to behaviour strategy
curriculum develop pupil To develop a longer
structure. resilience To focus on feedback term site
and use of technology development plan
To review the co- To review and to support pupil
Senior
School		 curricular offering. develop the pupil
tracking system		 progress
To embed the new		 To ensure strong
pupil recruitment
through a review of
To embed adaptive PDR system for marketing materials
teaching principles teaching staff and admissions
processes
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clubs, particularly approach to PDR process focus on Nursery in local community
for Reception pupils challenge and and Y3 – care homes, etc
extension and Subject Leads to visit recruitment
Foundations devise action identified schools with Sports fixtures
subjects use O plan strong teaching to To embed new targeted at local
Track for data develop a broader branding state primary
analysis To ensure an picture schools
inclusive and To review Junior
Junior Junior classes supportive Introduce new School transition
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pupils with
New Kagan neuro-diversity
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introduced Little
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To review approach
to AI

STREAMLINED ENERGY AND CARBON REPORTING

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

Page 12

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

2025 2024 2023 2022 2021
UK energyuse(1)kWh 3,293,229 3,241,320 3,600,761 3,863,500 4,052,452
Associated Greenhouse gas
emissions(2)Tonnes CO2 equivalent		 593.83 613.87 680.09 713 772.33
Intensity ratio - Emissions per pupils 0.40 per
pupil		 0.40 per
pupil		 0.43 per
pupil		 0.47 per
pupil		 0.53 per
pupil
Intensity ratio - Emissions per area 0.03 per
sqm		 0.03 per
sqm		 0.03 per
sqm		 0.04 per
sqm		 0.04 per
sqm

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 2025. 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.

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.

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’ allround 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.

Page 13

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and accounting estimates that are reasonable and prudent’

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

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.

DISCLOSURE OF INFORMATION TO AUDITOR

Each of the persons who are Governors at the time when this Governors’ report is approved has confirmed that: • there is no relevant audit information of which the School’s auditor is unaware, and

• 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 .��������������� and signed on the board’s behalf by:

…………………………… H Tritschler Chair

Page 14

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

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

Opinion

We have audited the financial statements of Stockport Grammar School (the 'charitable company') for the year ended 31 August 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of 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 United Kingdom, including the Financial Reporting Council'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 Governors' 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 Governors with respect to going concern are described in the relevant sections of this report.

Page 15

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STOCKPORT GRAMMAR SCHOOL (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Governors are responsible for the other information contained within the Annual report. 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 course of 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Governors' responsibilities statement, the Governors (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 Governors 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 Governors 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 Governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 16

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STOCKPORT GRAMMAR SCHOOL (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 noncompliance and cannot be expected to detect noncompliance with all laws and regulations.

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

Page 17

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STOCKPORT GRAMMAR SCHOOL (CONTINUED)

Auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Crowe U.K. LLP

Statutory Auditor 3rd floor, St Georges House 56 Peter St Manchester, M2 3NQ

Date: 16th April 2026

Crowe U.K. LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 18

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025

Note
Income and
endowments from:
Donations and legacies
4
Charitable activities:
5
School fees
Other educational
income
Other ancillary trading
income
. Other charitable
activities
Investments
7
Total income and
endowments
Expenditure on:
Raising funds:
8
Fundraising costs
Investment
management
Charitable activities
9
Total expenditure
Net
income/(expenditure)
before net gains on
investments
Net gains on
investments
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Unrestricted
funds
2025
£
490
19,838,497
162,778
2,198,990
42,662
362,639
22,606,056
42,693
31,538
21,824,024
21,898,255
707,801
129,735
837,536
28,489,367
837,536
29,326,903		 Restricted
funds
2025
£
237,089
-
-
-
-
62,662
299,751
-
12,496
209,095
221,591
78,160
64,851
143,011
3,274,622
143,011
3,417,633		 Endowment
funds
2025
£
-
-
-
-
-
642
642
-
758
-
758
(116)
1,046
930
139,174
930
140,104		 Total
funds
2025
£
237,579
19,838,497
162,778
2,198,990
42,662
425,943
22,906,449
42,693
44,792
22,033,119
22,120,604
785,845
195,632
981,477
31,903,163
981,477
32,884,640		 Total
funds
2024
£
254,407
19,093,848
178,728
1,801,002
53,377
426,363
21,807,725
57,716
45,312
21,015,027
21,118,055
689,670
527,520
1,217,190
30,685,973
1,217,190
31,903,163

Page 19

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 24 to 51 form part of these financial statements.

Page 20

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee) REGISTERED NUMBER: 06261525

BALANCE SHEET AS AT 31 AUGUST 2025

Note
Fixed assets
Tangible fixed assets
13
Securities investments
15
Property investments
14
Current assets
Stocks
16
Debtors
18
Fixed assets held for sale
17
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
19
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
20
Net assets excluding pension asset
Total net assets
Charity funds
Endowment funds
26
Restricted funds
26
Designated and general funds
26
Total funds		 47,530
1,001,712
39,200
8,839,641
9,928,083
(3,645,554)		 2025
£
18,760,079
6,458,139
2,379,143
27,597,361
6,282,529
33,879,890
(995,251)
32,884,639
32,884,639
140,104
3,417,632
29,326,903
32,884,639		 60,718
989,355
39,200
10,106,148
11,195,421
(5,393,518)		 2024
£
19,182,075
6,352,905
2,260,200
27,795,180
5,801,903
33,597,083
(1,693,920)
31,903,163
31,903,163
139,174
3,274,622
28,489,367
31,903,163

The Governors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

Page 21

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee) REGISTERED NUMBER: 06261525

BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025

The financial statements were approved and authorised for issue by the Governors on 24th March 2026 and signed on their behalf by:

H Tritschler Chair

The notes on pages 24 to 51 form part of these financial statements.

Page 22

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2025
£
(980,576)
425,943
-
(683,329)
1,019,453
(1,047,998)
(285,931)
-
(1,266,507)
10,106,148
8,839,641		 2024
£
5,874,069
426,363
14,000
(1,858,433)
1,129,936
(1,396,841)
(1,684,975)
-
4,189,094
5,917,054
10,106,148

The notes on pages 24 to 51 form part of these financial statements

Page 23

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. General 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.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), 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 31.

2.2 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.

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.

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.

Page 24

(A company limited by guarantee)

STOCKPORT GRAMMAR SCHOOL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

2.2 Fees and Similar Income (continued)

Donations and legacies income is recognised when the conditions for entitlement, probability and measurement have been met.

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

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.3 Expenditure

Expenditure is accrued as soon as a 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 on a 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.

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.

Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

2.4 Tangible fixed assets and depreciation

Tangible fixed assets costing £5,000 or more are capitalised at historical cost.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Page 25

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

2.4 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Buildings - 2%
Motor vehicles - 25%
Fixtures and fittings - 25%
Computer equipment - 33%

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.

2.5 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.

2.6 Inventories

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.7 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.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 26

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

2.9 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.

2.10 Pensions

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.

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Governors 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 to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

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

Page 27

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

3. 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.

Critical accounting estimates and assumptions:

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.

4. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
General appeal donations
490
Bursary appeal donations
-
Prize fund donations
-
Award funds donation
-
Old Stopfordians donation
-
Award Donations
-
Subtotal detailed disclosure
490
490		 Restricted
funds
2025
£
-
212,665
831
-
2,185
21,408
237,089
237,089		 Total
funds
2025
£
490
212,665
831
-
2,185
21,408
237,579
237,579

Page 28

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

4. Income from donations and legacies (continued)

Donations
General appeal donations
Bursary appeal donations
Prize fund donations
Award funds donation
Old Stopfordians donation
Stopfordians Trust Bursary
Subtotal detailed disclosure
5.
Income from charitable activities
School fees (see note 6)
Entrance and registration fees
Courses and sub-lettings
School meals
Morning club
School trips
Fee interest received
Other		 Unrestricted
funds
2024
Restricted
funds
2024
£
£
538
-
-
159,653
-
3,788
-
73,551
-
2,606
-
14,271
538
253,869
538
253,869
Unrestricted
funds
2025
£
19,838,497
49,068
113,710
1,233,691
6,400
958,899
-
42,662
22,242,927		 Total
funds
2024
£
538
159,653
3,788
73,551
2,606
14,271
254,407
254,407
Total
funds
2025
£
19,838,497
49,068
113,710
1,233,691
6,400
958,899
-
42,662
22,242,927

Page 29

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

5. Income from charitable activities (continued)

School fees (see note 6)
Entrance and registration fees
Courses and sub-lettings
School meals
Morning club
Fee interest received
School trips
Other		 Unrestricted
funds
2024
£
19,093,848
73,659
105,069
1,153,434
4,449
429
642,690
53,377
21,126,955		 Total
funds
2024
£
19,093,848
73,659
105,069
1,153,434
4,449
429
642,690
53,377
21,126,955

6. School fees

Gross fees
Bursaries, grants and allowances		 Senior
2025
£
16,525,201
(1,032,677)
15,492,524		 Junior
2025
£
4,088,394
-
4,088,394		 Nursery
2025
£
261,579
-
261,579		 Total
funds
2025
£
20,875,174
(1,032,677)
19,842,497

After School Care fees included in the above amounted to £80,510 (2024: £73,463).

Scholarships, bursaries and other awards were paid to 115 pupils (2024: 114). Within this means tested bursaries totalling £1,168,022 were paid to 86 pupils (2024: £1,208,911 to 93 pupils).

Gross fees
Bursaries, grants and allowances		 Senior
2024
£
15,920,014
(1,070,510)
14,849,504		 Junior
2024
£
3,972,630
-
3,972,630		 Nursery
2024
£
271,715
-
271,715		 Total
funds
2024
£
20,164,359
(1,070,510)
19,093,849

Page 30

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

7.
Investment income
Unrestricted
funds
2025
£
Bank interest received
172,851
Dividends received
90,091
Investment property rental
99,697
Bank interest received
Dividends received
Investment property rental
Total 2024
8.
Analysis of total resources expended
Costs of generating funds:		 Restricted
funds
2025
£
6,923
55,739
-
Unrestricted
funds
2024
£
152,684
96,948
104,445
354,077		 Endowment
funds
2025
£
-
642
-
Restricted
funds
2024
£
-
65,983
6,303
72,286		 Total
funds
2025
£
179,774
146,472
99,697
Total
funds
2024
£
152,684
162,931
110,748
426,363
Unrestricted Total
funds funds
2025 2025
£ £
Fundraising for voluntary resources 42,693 42,693

Page 31

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

8. Analysis of total resources expended (continued)

Costs of generating funds: (continued)

Fundraising for voluntary resources
Unrestricted
funds
2025
£
Investment management
31,538
Unrestricted
funds
2024
£
Investment management
30,529		 Restricted
funds
2025
£
12,496
Restricted
funds
2024
£
14,035		 Unrestricted
funds
2024
£
57,716
Endowment
funds
2025
£
758
Endowment
funds
2024
£
748		 Total
funds
2024
£
57,716
Total
funds
2025
£
44,792
Total
funds
2024
£
45,312

Page 32

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

9. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2025
£
Teaching
13,547,675
Welfare
1,903,036
Premises
2,842,634
Support costs
3,397,360
Grants, awards and prizes
133,319
21,824,024
Unrestricted
funds
2024
£
Teaching
12,993,233
Welfare
1,867,268
Premises
2,678,112
Support costs
3,111,075
Grants, awards and prizes
139,939
20,789,627		 Restricted
funds
2025
£
-
-
-
-
209,095
209,095
Restricted
funds
2024
£
-
-
-
-
225,400
225,400		 Total
2025
£
13,547,675
1,903,036
2,842,634
3,397,360
342,414
22,033,119
Total
2024
£
12,993,233
1,867,268
2,678,112
3,111,075
365,339
21,015,027

Page 33

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

9. Analysis of expenditure on charitable activities (continued)

Summary by expenditure type

Staff costs
2025
Depreciation
2025
£
£
Teaching
12,308,310
-
Welfare
845,344
-
Premises
218,748
803,380
Support costs
1,310,605
301,944
Grants, awards and prizes
-
-
14,683,007
1,105,324
Staff costs
2024
Depreciation
2024
£
£
Teaching
11,785,287
-
Welfare
771,000
-
Premises
190,783
772,813
Support costs
1,296,734
252,505
Grants, awards and prizes
-
-
14,043,804
1,025,318
10.
Auditor's remuneration
Fees payable to the Company's auditor and its associates for the audit of
the Company's annual accounts
Fees payable to the Company's auditor and its associates in respect of:
Other governance costs
All assurance services not included above
All non-audit services not included above		 Other costs
2025
£
1,239,365
1,057,692
1,820,506
1,784,811
342,414
6,244,788
Other costs
2024
£
1,207,946
1,096,268
1,714,516
1,561,836
365,339
5,945,905
2025
£
18,412
13,240
770
1,930		 Total
2025
£
13,547,675
1,903,036
2,842,634
3,397,360
342,414
22,033,119
Total
2024
£
12,993,233
1,867,268
2,678,112
3,111,075
365,339
21,015,027
2024
£
17,535
18,680
735
1,838

Page 34

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

11. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
10,992,775
1,267,615
2,422,617
14,683,007		 2024
£
10,688,948
1,122,782
2,232,074
14,043,804

During the year six settlement agreements totalling £34,997 were paid (2024: two payments totalling £27,280). At the year end there was no outstanding balance (2024: £Nil).

The average number of persons employed by the Company during the year was as follows:

2025 2024
No. No.
Avarage number of employees 323 323

The average headcount expressed as full-time equivalents was:

Teaching
Welfare
Premises
Support		 2025
No.
153
20
6
41
220		 2024
No.
161
23
6
41
231

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2025 2024
No. No.
In the band £60,001 - £70,000 22 23
In the band £70,001 - £80,000 5 2
In the band £80,001 - £90,000 4 3
In the band £90,001 - £100,000 - -
In the band £100,001 - £110,000 2 1
In the band £110,001 - £120,000 - 1
In the band £120,001 - £130,000 - 1
In the band £130,001 - £140,000 1 -

Page 35

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

12. Governors' remuneration and expenses

During the year, no Governors received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 August 2025, expenses totalling £7,400 were reimbursed or paid directly to Governors (2024 - £11,539 to Governors).

13. Tangible fixed assets

Cost or valuation
At 1 September 2024
Additions
Transfers between classes
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024		 Freehold
land and
buildings
Assets
under
construction

£
£
22,927,383
427,139
72,877
302,916
-
(684,969)
23,000,260
45,086
6,281,542
-
440,703
-
6,722,245
-
16,278,015
45,086
16,645,841
427,139		 Fixtures and
fittings
£
4,241,593
-
684,969
4,926,562
2,497,736
362,675
2,860,411
2,066,151
1,743,857		 Computer
system and
cabling
£
1,366,230
307,536
-
1,673,766
1,000,992
301,946
1,302,938
370,828
365,238		 Total
£
28,962,345
683,329
-
29,645,674
9,780,270
1,105,324
10,885,594
18,760,080
19,182,075

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 were a 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.

As at 31 August 2025, the School had capital commitments of £nil.

Page 36

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

14. Property Investments

Valuation
At 1 September 2024
Additions
At 31 August 2025		 Freehold
investment
property
£
2,260,200
118,943
2,379,143

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.

15. Fixed asset investments

Cost or valuation
At 1 September 2024
Additions
Disposals
Revaluations
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024		 Designated
Funds
£
4,033,991
612,384
(681,770)
129,735
4,094,340
4,094,340
4,033,991		 Restricted
Funds
£
2,180,169
316,671
(336,722)
64,851
2,224,969
2,224,969
2,180,169		 Endowed
Funds
£
138,745
-
(961)
1,046
138,830
138,830
138,745		 Total
£
6,352,905
929,055
(1,019,453)
195,632
6,458,139
6,458,139
6,352,905

Page 37

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Investments at market value comprise:
Listed UK Equities
Listed non-UK Equities
Cash on deposit		 2025
£
3,822,887
2,250,252
385,000
6,458,139		 2024
£
4,551,283
1,416,622
385,000
6,352,905

The investments are held as fixed assets which generate income to be applied for the purposes described in notes 25 - 27.

16. Stocks

Goods for resale and consumables
17.
Fixed assets held for sale
Assets held for sale
18.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
47,530
2025
£
39,200
39,200
2025
£
92,535
430,129
479,048
1,001,712		 2024
£
60,718
2024
£
39,200
39,200
2024
£
65,651
569,690
354,014
989,355

Page 38

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

19. Creditors: Amounts falling due within one year

Fee deposits
Trade creditors
Other taxation and social security
Payments received on account
Other creditors
Accruals and deferred income		 2025
£
61,050
1,385,369
109,240
1,422,899
4,193
662,803
3,645,554		 2024
£
51,916
669,040
246,250
2,921,277
21,870
1,483,165
5,393,518

20. Creditors: Amounts falling due after more than one year

Fee deposits (see note 21)
Fees in advance (see note 22)		 2025
£
228,994
766,257
995,251		 2024
£
247,152
1,446,768
1,693,920

21. 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:

Movements of fee deposits
Balance at 1 September
New deposits received
Deposits utilised
Balance at 31 August		 2025
£
299,068
133,651
(142,675)
290,044		 2024
£
296,952
147,620
(145,504)
299,068

Page 39

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

22. 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:

In one year or less
Between one and two years
Between two and five years
Movements on advance fees:
Balance at 1 September
New deposits received
Amounts utilised in payments
Balance at 31 August
23.
Financial instruments
Financial assets
Financial assets measured at fair value through income and expenditure
Total investment income for financial assets measured at
fair value through income and expenditure
Net (losses)/gains on financial assets measured at fairvalue through income
and expenditure
Impairment (losses)/gains on financial assets measured atamortised cost		 2025
£
974,180
414,952
351,305
1,740,437
2025
£
4,368,045
293,669
(2,921,277)
1,740,437
2025
£
8,839,641
2025
£
425,943
195,632
(26,703)		 2024
£
2,921,277
749,241
697,527
4,368,045
2024
£
364,263
4,368,045
(364,263)
4,368,045
2024
£
8,613,105
2024
£
426,363
527,520
(16,960)

Page 40

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

24. Pension commitments

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 £2,017,130 (2024: £1,849,616) and at the year-end £Nil (2024 - £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 on a “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 £376,518 (2024: £382,458) and at the year end £Nil (2024: £Nil) was accrued in respect of contributions to this scheme.

Page 41

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

25. Operating lease commitments

At 31 August 2025 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2025
£
105,140
105,140
210,280		 2024
£
105,140
210,280
315,420

At 31 August 2025 the total of the School has commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Within 1 year
Within 1 – 5 years		 2025
£
16,276
31,568
47,844		 2024
£
24,780
47,844
72,624

Page 42

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

26. Statement of funds

Statement of funds - current year


Designated funds
Investment Fund
General appeal
The Pilkington Fund
General funds
General Funds - all funds
Total Unrestricted funds		 Balance at 1
September
2024
£
5,818,751
143,965
55,088
6,017,804
22,471,563
28,489,367		 Income
£

188,395
16,370
1,393
206,158
22,399,898
22,606,056		 Expenditure
£
(165,110)
-
(3,746)
(168,856)
(21,729,399)
(21,898,255)		 Gains/
(Losses)
£
131,532
-
(1,797)
129,735
-
129,735		 Balance at
31 August
2025
£
5,973,568
160,335
50,938
6,184,841
23,142,062
29,326,903

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.

The General Reserve fund is retained to cover the fixed assets and provide working capital.

Balance at 1 Balance at
September Gains/ 31 August
2024 Income Expenditure (Losses) 2025
£ £ £ £ £
Endowment funds
Endowment 21,550 642 - 906 23,098
Prize Funds 31,798 - - (1,131) 30,667
Sykes Trust Funds 85,826 - (758) 1,271 86,339

Page 43

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

26. Statement of funds (continued)

Statement of funds - current year (continued)

Balance at 1
September
2024
£
139,174		 Income
£
Expenditure
£
642
(758)		 Gains/
(Losses)
£
1,046		 Balance at
31 August
2025
£
140,104

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.

Balance at 1
September
2024
£
Restricted funds
Albert Johnston Fund
12,430
Benjamin Smith Fund
127,120
Bursary Appeal
1,991,901
Prize funds
17,054
Sykes Trust Funds
3,408
Foundation Bursary
42,612
Roy Clough Fund
980,064
Stopfordian Trust Bursary
(191)
Old Stopfordians
22,268
Baxendale Trust Bursaries
4,405
Adventure Awards
73,551
Nick Henshall
-
3,274,622		 Income
£
Expenditure
£
209
(1,083)
3,355
-
243,579
(108,293)
2,004
-
3,043
(2,285)
-
-
22,617
(94,968)
-
-
2,855
(14,985)
-
-
21,408
-
680
23
299,750
(221,591)		 Gains/
(Losses)
£
-
(4,033)
42,843
(383)
-
-
26,424
-
-
-
-
-
64,851		 Balance at
31 August
2025
£
11,556
126,442
2,170,030
18,675
4,166
42,612
934,137
(191)
10,138
4,405
94,959
703
3,417,632

Page 44

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

26. Statement of funds (continued)

The Albert Johnston Fund was established by way of a collection following the death of Albert Johnston, a former teacher of the School, in 1981. The income from the Fund is used to provide small travel awards for the winners of a 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 purpose was 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 provision of bursary assistance.

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

The Stockport Grammar School Educational Foundation funding is a donation to be used for bursaries.

The Roy Clough Fund has been established from the generous legacy of a former pupil to provide bursaries.

The Nick Henshall Fund was established from the generous legacy of a former pupil, member of staff and Governor to provide bursaries. The fund will be fully spent in the year ending 31 August 2026.

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 Hallam Trust is a one-off support to provide assistance to a family experiencing financial difficulties.

The Adventure Awards fund was established by former pupils of the School in 2024 to honour their lifelong passion for the outdoors, climbing, and mountaineering which began whilst they were current pupils. This fund could cover both formal school organised and pupil organised trips outside of term time as well as regular activities (e.g. subsidising weekly climbing).

Page 45

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

26. Statement of funds (continued)

Statement of funds - prior year


Unrestricted
funds
Designated
funds
Investment Fund
General appeal
The Pilkington
Fund
General funds
General Funds -
all funds
Total
Unrestricted
funds
Endowment
funds
Endowment
Prize Funds
Sykes Trust
Funds
Restricted
funds
Albert Johnston
Fund
Benjamin Smith
Fund
Bursary Appeal		 Balance at
1 September
2023
£
53,536
5,081,046
128,024
5,262,606
22,323,407
27,586,013
21,550
29,429
79,561
130,540
115,405
1,774,356
11,322		 Income
£
1,360
205,710
15,941
223,011
21,258,559
21,481,570
-
-
-
-
3,273
194,731
4,933		 Expenditure
£
(3,568)
(166,901)
-
(170,469)
(20,707,403)
(20,877,872)
-
-
(748)
(748)
-
(94,353)
-		 Transfers
in/out
£
-
403,000
-
403,000
(403,000)
-
-
-
-
-
-
-
-		 Gains/
(Losses)
£
3,760
295,896
-
299,656
-
299,656
-
2,369
7,013
9,382
8,442
117,167
799		 Balance at
31 August
2024
£
55,088
5,818,751
143,965
6,017,804
22,471,563
28,489,367
21,550
31,798
85,826
139,174
127,120
1,991,901
17,054

Page 46

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

26. Statement of funds (continued)

Statement of funds - prior year (continued)

Prize funds
Sykes Trust
Funds
Foundation
Bursary
Roy Clough
Fund
Stopfordian
Trust Bursary
Old Stopfordians
Baxendale Trust
Bursaries
Adventure
Awards
Nick Henshall
Total of funds		 Balance at
1 September
2023
£
2,660
42,612
953,955
29,687
(191)
4,405
21,619
13,590
-
2,969,420
30,685,973		 Income
£
3,069
-
27,323
1,394
14,271
-
3,370
240
73,551
326,155
21,807,725		 Expenditure
£
(2,321)
-
(91,392)
(32,977)
(14,271)
-
(2,721)
(1,400)
-
(239,435)
(21,118,055)		 Transfers
in/out
£
-
-
-
-
-
-
-
-
-
-
-		 Gains/
(Losses)
£
-
-
90,178
1,896
-
-
-
-
-
218,482
527,520		 Balance at
31 August
2024
£
3,408
42,612
980,064
-
(191)
4,405
22,268
12,430
73,551
3,274,622
31,903,163

Page 47

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

27. Summary of funds

Summary of funds - current year


Designated funds
General funds
Endowment funds
Restricted funds		 Balance at 1
September
2024
£
6,017,804
22,471,563
139,174
3,274,622
31,903,163		 Income
£

206,158
22,399,898
642
299,750
22,906,448		 Expenditure
£
(168,856)
(21,729,399)
(758)
(221,591)
(22,120,604)		 Gains/
(Losses)
£
129,735
-
1,046
64,851
195,632		 Balance at
31 August
2025
£
6,184,841
23,142,062
140,104
3,417,632
32,884,639

Summary of funds - prior year

Designated
funds
General funds
Endowment
funds
Restricted funds		 Balance at
1 September
2023
£
5,262,606
22,323,407
130,540
2,969,420
30,685,973		 Income
£
223,011
21,258,559
-
326,155
21,807,725		 Expenditure
£
(170,469)
(20,707,403)
(748)
(239,435)
(21,118,055)		 Transfers
in/out
£
403,000
(403,000)
-
-
-		 Gains/
(Losses)
£
299,656
-
9,382
218,482
527,520		 Balance at
31 August
2024
£
6,017,804
22,471,563
139,174
3,274,622
31,903,163

Page 48

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

28. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
18,760,079
Fixed asset investments
4,094,342
Investment property
2,379,143
Current assets
8,734,144
Creditors due within one year
(4,411,811)
Creditors due in more than one year
(228,994)
Total
29,326,903		 Restricted
funds
2025
£
-
2,224,968
-
1,192,664
-
-
3,417,632		 Endowment
funds
2025
£
-
138,829
-
1,275
-
-
140,104		 Total
funds
2025
£
18,760,079
6,458,139
2,379,143
9,928,083
(4,411,811)
(228,994)
32,884,639

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2024
£
19,182,074
4,033,992
2,260,200
10,100,539
(5,393,518)
(1,693,920)
28,489,367		 Restricted
funds
2024
£
-
2,180,169
-
1,094,453
-
-
3,274,622		 Endowment
funds
2024
£
-
138,745
-
429
-
-
139,174		 Total
funds
2024
£
19,182,074
6,352,906
2,260,200
11,195,421
(5,393,518)
(1,693,920)
31,903,163

Page 49

STOCKPORT GRAMMAR SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

29. Reconciliation of net movement in funds to net cash flow from operating activities

2025
£
Net income for the year (as per Statement of Financial Activities)
981,477
Adjustments for:
Depreciation charges
1,105,324
Profit on fixed asset disposal
-
(Gains)/losses on investments
(195,632)
Dividends, interests and rents from investments
(425,943)
Decrease/(increase) in stocks
13,188
Increase in debtors
(12,357)
Increase/(decrease) in creditors
(2,446,633)
Net cash provided by/(used in) operating activities
(980,576)
30.
Analysis of cash and cash equivalents
2025
£
Cash in hand
8,839,641
Total cash and cash equivalents
8,839,641
This includes funds for the next phase of the development of the facilities of the school.		 2024
£
1,217,190
1,025,318
(14,000)
(527,520)
(426,363)
(6,400)
(353,042)
4,958,886
5,874,069
2024
£
10,106,148
10,106,148

31. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year		 At 1
September
2024
£
10,106,148
(51,916)
(247,152)
9,807,080		 Cash flows
At 31
August 2025
£
£
(1,266,507)
8,839,641
(9,134)
(61,050)
18,158
(228,994)
(1,257,483)
8,549,597

Page 50

STOCKPORT GRAMMAR SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

32. Related party disclosures

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

33. Consolidated statement of financial activities for the year ended 31 August 2024

Unrestricted Restricted Endowment Endowment Total funds Total funds
funds 2024 funds 2024 funds 2024 2024 2023
Note £ £ £ £ £
Income and endowments
from:
Donations and legacies 538 253,869 - 254,407 176,565
Charitable activities:
School fees 19,093,848 - -
19,093,848		 17,983,191
Other educational income 178,728 - - 178,728 121,066
Other ancilary trading income 1,801,002 - -
1,801,002		 1,779,443
Other charitable activities 53,377 - - 53,377 68,996
Investments 354,077 72,286 - 426,363 264,656
Total income and
endowments		 21,481,570 326,155 -
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 20,789,627 225,400 -
21,015,027		 19,545,658
Total expenditure 20,877,872 239,435 748 21,118,055 19,639,375
Net
income/(expenditure)
before net gains on		 603,698 86,720 -748 689,670 754,542
investments
Net gains on investments 299,656 218,482 9,382 527,520 -97,434
Net movement in funds 903,354 305,202 8,634 1,217,190 657,108
Reconciliation of funds:
Total funds brought forward 27,586,013 2,969,420 130,540 30,685,973 30,028,865
Net movement in funds 903,354 305,202 8,634 1,217,190 657,108
Total funds carried
forward		 28,489,367 3,274,622 139,174 31,903,163 30,685,973

Page 51