2025-08-31-accounts

ANNUAL REPORT FOR THE YEAR ENDING AUGUST 2025 The Roya Grammar Schffll Worcester A private company, limited by guarantee Registered No. 6251081 Charrty No. 1120644

THE ROYAL GRAMMAR SCHOOL WORCESTER A private company¥ limited by guarantee Registered No. 6251081 Charity No. 1120644 ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Index Page GoVern￿S, Retyjt Strategic Report 5-23 Audrtor's Report 24 -26 Statement ol Financid Actimties 27- 28 B￿a￿e Sheet Cash Fbw Statanont Attounling Policies 31-33 Notes to the Accounts 34-47

THE ROYAL GRAMMAR SCHOOL WORCESTER GOVERNORS, REPORT YEAFI ENDED 31 AUGUST 2025 The Name of the Company is The Royal Grammar Schwl Worcester 1.the School"). The Address ol Ihe Company is The Royal Grammar Schod Wor¢ester, Upper Tything, Worcesler, WR1 1HP. 3. The Sch(KA was incorporated on 17 May 2m7 bul continued lo operate as an unincorporated charity until 31 August 2007. 11 began active opèrations as a limited company w merging with The Aice Ottley School on 1 September 2007. There were no trading activities prior to this dale. The School operates on four siles,, RGS Worcester offering co-eclucalion lor pupils aged 11-18, thated in The T5rthing, W(Ycester,' fiGS Springfield offering co-education for pupils aged 2-11, located in 8rilannia Square, Worcester., FIGS The Grange offering co-education l(Y pupils aged 2-11. located in Claines. Worcesler-, and RGS Dodderhill, offering co-education lor pupils aged 2-11 and girls only education for pupils from 11-16 located in Droitwch. From 1 Seplembor 2025, all pupils aged 5 to 11 at RGS Springfield were offered a place at RGS The Grange enabling RGS Springfield to expand as a Nursery in respons8 to market condrtions. Status. The Compary is registered al Companies House, Cardiff, as a private company, limited by guarantee, registered numb8r 6251081. The Company is also registered as a charity, number 1120644. The Company is the trLJStee of Charity 527527 which holds in trust the Pèrmanent Endowrnents olthe School Under a Charity Commission Scheme sealed on 2 July 2007 and altered by a further scheme sealed on 15 January 2008. The Scheme contains a Uniting Direction Ihat the Charity and associated funds shdl be treated as fcyming part ol the Company for the purposes ol Part 6 IAccountingl of the Chartties Act 2011. On 30 April 2019 tkndderhill School. company number 00576888 and registered charity number 527599, donated all of its assets and liabilities lo The Royal Grammar Scho(A Worcester. RGSW Hold1r￿S Limited, registered office Upper Tything, Worcester, WRI 1 HP, company number 12364724 was incorporated in Decern￿r 2019 to lacilitale the establishment and operatiori ofwor￿sIer Internatior)￿ Hockey Club Limited. a limited liability company, number 12366802 which was also incorporated in December 2019. Directors of the Company. The Directors of the Company are also the Govemors of the School and the Trustees ol the Charity. Those who have served during the year and up lo the dale of signing as Directors are listed below'.- Mr A Greenway MrsRFHam Chair ol Governors, ISC. Governor w((h speciJ interest in Data Protecti Vice Chair of Governors. Chair ol NC, EC, Govemor wth speciJ interest in ECT, SGF (resigned 3 Dec8mber 20251 F&GP, ISC. SGF EC. Staff knaison al RGS Worcester, Governor with special inter8St for Learning Development lappointed 3 December 20251 EC EC, NC, Staff Liaison al RGS Worcesler, Governor with special interest for Leaming Development (resigned 3 De￿rnber 20251 F&GP, RGS Dodderhill Sub-committee. ISC, Governor with speual interest in Risk EC, RGS Dodderhill Sub-committee, Governor wrth spocia interest in Sport F&GP, Chair RGS Springfield Sub-committee. NC. SGF Chair of EC, Governor with special in18resl in CCF, SGF Chair of F&GP, ISC EC, NC EC, Lead Governu lor Safeguarding including Attendance and web filtering and monitoring Iresign8d 3 D8cember 20251 EC, Lead Governor for Safeguarding induding Attendance and web li￿e￿ng and monitoring lappoinl8d 3 December 20251 EC (resigned on 4 December 20241 F&GP, Governor wlh specral interest for Heath and Safety EC Iresign8d 3 ￿ember 20251 F&GP Mr M Beardmore Mrs L Brown Dr N Canchi-murali Mrs L Cook Mrs M J Cross Mr T Curtis Mr N Fairlie Mr S Flutter Mr H kfjmberley Ms K Meredith Mrs S Mills Ms A Noble Mrs N Pary Mr B W Radlord Dr E Robinson Mr G Rouse

THE ROYAL GRAMMAR SCHOOL WORCESTER GOVERNORS, REPORT YEAR ENDED 31 AUGUST 2025 Mrs K M Worminglon Mrs R Wyatt Chair of RGS D(Klderhill Sub Committee, Staff Liaison al RGS Dodderhill, NC, SGF EC, Govemor with S￿la1 interest lor the Foundation Stage, RGS SpriThJfiekJ Staff Liaison, RGS The Grange Staff ￿alsOn Finance and Generd Purposes Committee IF&GR, Education Committee IECI, Nominations Committ INCI, International School Committee IISCI. Staff Govemor Forum ISGF) The Principal Officers of the Charity during the year were'.- MrJDPitt Mr G W Hughes Mrs L Brown Mr T 8anyard MsAP4e Mr B R Edwards Headmaster, FIGS W0￿￿8ter and aX￿U￿Ve Head of The RGS Worcester F8rnily ol Schools Headmaster, RGS The Grgnge Headmistress, RGS Springfield IresignÉd 31 August 20251 Headmaster, FIGS Ebdderhill (resigned 31 August 20251 Headmistress, RGS DcKJderhill lappointed 1 September 20251 Director of Finance and Operations. Clerk to the Govemors and Company Secrètary Advisers to the School:. Ban￿ & Inve5trnent Managers Uoyds Bank plc 4, The Cross, Worc8Ster, WR13PY dttors Crowe U.K. LLP 4 Roor, St Jame8 House. St James. &uare, Chdtenham. GL50 3PR SolicI(￿s sta￿rd M*ch ar￿ Edwards ISME Solicrf(orsl 8, Sark8ome Wdk, Worcester, VVR1 1 LW InsuffjnTr Broker8 Hettle Andrews & Asscciales Limited Eleven Brindley Pl 2 Bwnswick Square Bimingham 612LP Goveming Document. Memorandum and Articles of As$￿ation adopted on incorporation on 17 May 2007 as arnend￿ by Special Resolution dated 27 June 2013. 10. Governing Body. The Q)vernors are listed on page 1 of this Report. 11. Recruitment and Training of Governors. New Governors are nomially appoint￿ at tem1y meetings on the basis ol nominations from a committee ol Governors. Al nominations are made on the basis of eligibility. persond competence, specialist skills and aval8bilty. New Governors undertake a formal induction process under the guidan￿ of a fellow Govemor which covers the worl￿ngS of the Charity, including P(Aiaes. Procedures, Finances, the Clerk to the Govemors and Govèmance. 12. Liability Insurance. Govemor and Individual ￿abIlty insurance is prolided wth a cover of £5m. 13. Organisational Management. The School Charity is orgarTrised and managed in accordance wlh Arlicles ol Governance. produced by the Governors, to control the gttnttrd educational character ol the Schwl. The Governing 8￿Y meets at least 0￿e per torm. The Board's poliaes are generaily implemented by two rn￿n committees,. the Finance and General Purwses Committee IF&GP) and the Education Committee IECI, both of which meet termly. Individud Governors are nominated to take a special interest in Safeguarding lincluding Attendance), Hedth and Safety, the Foundation Stage at each of the Prep Schools. Learning Development, GDPFI, web lillering and monitoring. Teacher Training provision f¢y Early Careers Teachers IECTS), CCF and for staff li￿80￿ in each school. The Govemors directly appoint the Heads and the Director ol Finance and Operations. The Head of RGS Dodderhill reports to the Executive Headmaster and The Head of RGS The Grange is rasponsible to the Govemors lor thè overal management of the School and the direction of

THE ROYAL GRAMMAR SCHOOL WORCESTER GOVERNORS, REPORT YEAR ENDED 31 AUGUST 2025 leaching wrthin the generJ pdicy and the delegated financi￿ limrts approved from time to lime by the Govemors. The tj'rector of Finance and Operations ￿S responsible directw to the Governors lor the management of the grounds, buildings, plant, compLrting and IT, administration and finances ol the Schod, and to suppcyt the Heads in the day lo day running of their Schools. 14. Employee Involvement and Equal Opportunities. Employees have been consulted on issues ofconcem to them by means ol regular consullatwe committee and staff meetings and have been kept inlortned on specific matters directly by management. During the y&ar, GoverrK>rs and staff have introduwl a 'Slaff Governor Forum, lo enhance communication and understanding. The School carries out e￿1 interviews for all staff leaving the organisation and has adopted a procedure ol upward feedback for senior management and the Governors. In accordance wrth the SchcLI's Equal Opportunities PoSicy. the School has long established fair 8mployment practices in the recruilmenl. sdection, retenti￿ and traning of disabled staff. Full delals of these policies are available from the School's offices. 15. Availability of Assets to Fulfil Obligations. 11 is the opiniori ol the Governors Ihal Ihe Schod is well placed to meet in lull ils current obligations. ststement of Govemors, Responsibilities 16. The Companies Act 21KJ6 requires the Governors. as Trustees of the Charity, to prepare financial statements for each linancia year which give a true and lair view of the state ol affars ol the Charty and ol the surplus or deficrt of in¢omè over expenditure for that pèriod. 17. In preparirYJ these financial statements. the Govemors s￿L￿Id follow best practice and are required to.. le¢t suitable ￿Ounting pdi¢ies ar￿ apply th￿n consistent￿, b. observe the methods and principles in the Charities SORP., make judgements 8nd estim*es that are reasonable and prudent.. state whether applicable UK accounting standards hav8 been followed subject to any materi departures disclosed and expl&ned in the financial slalemenls., and e. prepare the financial slalements on the going CO￿&M basis unless it is inappropriate to presume that the Charty will continLJe in operation. 18. The Govemiys are responsible lor k&ping accounting records which are such as to disclose, with reasonable accuracy. the financial position of the Charity at any time, and to enable them as Trust￿, to ensure that the accounts comply with charity law. Thè Governors are also responsible for safeguarding the Charity's assets and ensuring their proper application and hence lor taking reasonable steps lor the prevention and detection of error. fraud and other irregularities. 19. The Governors delegated authority to the Nominations Committee INCI to assess the Board's adh8rence the charity govemance code issued in July 2017. Following a remew of the seven principles underpinning the code the NC concluded that the FIGSW Board is adhering to all ol the principl&s. The Board unanimous endorsed this assessment at Ihe December 2023 Board meeliru and is included in the induction process for new Govefftors. 20. Tne Charty had no lundrwsing activities requiring disdosure under S162A ol the Charities Act 2011.

THE ROYAL GRAMMAR SCHOOL WORCESTER GOVERNORS, REPORT YEAR ENDED 31 AUGUST 2025 21. Statement as to Disclosurg of Information to Auditors. The Governors who were in Offi￿ on the dale of approval ol these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each of Ihe Directors have confirmed that they have taken all the steps that they ought to have taken as Directors in order lo mako Ihomselvos aware of any relevant audit information and to establish that it has b*n communicated to thè auditor. Auditors 22. Crowe U.K. LLP has indicated its willingness lo b& reapwinted as statutory auditor. Approved by the Board on 22 May 2026 and sigrfid on rts behalf by'.- Mr Andrew Greenway Chair of Governors

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 Objectives and Activities Gharitable Objects. The objects of the Schwl are the prokqsion and ctmdud. in or near the City of Worcester, ol a day or day and boarding school lor boys and girls and ancillary or incidental educational actpitties and other associated activities for the benefit ol the community. Alm 8nd Intended Impact. 11 is the General Policy ol thè Govemors to provide for the pupils of th8 School 8 challenging and slimulaling intellectuJ atmosphere while making full provision lor physical. cultural and moral development. ObjeGtive$ for the Year. The primary ckn'ectNes ol the academic year 2024-25 were.. To ensure that support for pupil and staff wdfare is al the highest levels through our 5eading pastor care proifjsi( To ensure financial stability for The RGS Worcester Family ol Schwls following the introduction ol VAT on schwl fees from January 2025 through wuring pupil numbers. setting appropriate lee levels, inlroducing cost saiings and increasing atternalive income streams Fo51owing record Public Examinalion results in 2024. to develop our academic prows1￿ still further, le￿ning from recent success to ensure high academic performance is sustained and continues to grow To continue lo develop DigilJ Leaming with particular focus on Artificial Intelligence IAII and its effects on education, as we bgcome a market leader in understanding Ihis area.1nform putmls. staff and parents of tho ben8fils and pitfalls ol Al and use our knowSedge lo suEpyt othèr schools and lucat￿)rnal institutions le.g. the University ol Worcèsterl To develop and monitor our co-curricular provision still furth8r, 8nsuriry that pupils, access a broad range of eX￿rienCeS and develop life ski118 throughout their time at the schools To prepar8 the RGS Schools lor ISI Inspection under the new Framework IF231 Recognising the importance of Careers and PSHCE education, to review and enhance our prokision still further to support the pupils as they navigate Ihe complexities ol adolescence and prepa￿ them for mcéern life Remew and ¢ontinu8 to enhanTr online safety, including monitoring and fittering of tt systems and Ljse in line with recommendations for all Schocls in KCSIE guidance., ensuring cybersecurity 1$ 8t the lop end ol industry-slandard for schools To continue to increase Bursaries through the work of the Foundation to ensure access to an RGS education is possible, regardless of financid means To build on success as 'lndependent school ol the year for educational partnerships. by 8xploring further outreach and partnerships opportunities as part of our commitment to public benefrt To explore the possibility of establishing an RGSW Intemational school abroad to enhance our reputation and introduce a new income stream To continue to 8Stablish The RGS Family of Schools as Ihtt leading group of independent schrx)ls in the area Stralegies to aGhieve the Objectives. Pastoral care proMsK)n continues to be enhanced lo suptK* pupils and staff le.g. th8 inlrcKluclion of two Assistant Head5 of Year al RGS Worcesterl and the work ol the Pastoral teams and DSLS is close o-ordinaled both wtthin each school and across all 4 schools. Mobile 'phone t)olicy for pupils is being enIor￿d and will be carefully reviewed in considering mental hedth impact ol smartphone use The DFO and Heads meet very regularly as the Stratew Group. including ov8r the summer holiday, and there are addilionJ Governors, meetings to hdp manage the changes introduced by the Govefflmttnt. A forum representing the staff from the 4 schools will meet with Governors to discuss pay and Conditi￿S. Significant ongoing work is being done lo consider cost savings, new income streams and ensure efficiency across all 4 schools The new Academic Deputy al RGS Worcester and the Academic teams across the schools remew examination performance and share best practice through committees. meetings and Inset Irairning heLd in and across dl 4 schools. Monitoring of pupils, academic pr(MJress continues to be further centrdisèd and enhanced, including through del&led data anaI￿lS

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 The Director of Innovation and his teams across the 4 schools provide regular Inset twning for staff about Al and the pupil 'Digilal Geniuses, assist with information evenings lor parents and sharing best practi￿ with pupils. Other schools are invited lo tr￿ning events and collaboration is taking place with the University ol Worcester to help tr￿n future teathers in Al and Digila Learning A review of co-curricular acliwlies Is taking place across the 4 schools and a new system for encoLJraging participation and accumulating rewards is being introduced. The purpose is to link co- curricular actiwties lo skills development so that pupils can build a profile ol a range of skills, understanding the benefits ol the extensrje range of co-curricular activities on offer to them Regular briefings and information is being shared wlh staff and Govemors and checks are regularly comploted for compliance to make SLJre that the 4 schools are Jways 'insp8Ction-rea(ty' Careers and PSHCE are being given higher profil8 in the schools al ag8-appropriate18V8ls and there is a review of staffing and programmes lo make sure that pupils are well prepared and able to make iriformed choices for their lLrtu￿S The IT Support Team, overseen by the Director ol Innovation, continues to work with the Designated Safeguarding Leads IDSLsl and Pastoral Teams to ensure that monitoring and filtèring are al an appropriate level, concerns are reported and addressed in a timely and appropriate manner, and in line with guidance including in KCSIE. Online safely is emphasised as part ol the PSHCE and Computing & IT programmes The Foundation Office staff work Mrith Trustees and run a programme of 'lriendship-buikling' events for alumni, engage Vith parenls as appropriate, and fundr￿Se for Bursaries Celebrating the success of the Outreach and Parlnerships programme thqdent in the award ol the title ol 'lnd8pendenl school of the year 2024, allows us to encourage even gre8t8 parhcipation from other schools and institutions around Worcestershire and abroad A new rde of Assistant Head (Director of RGSW Intemationall has been Creat￿ and an intemational office established. ￿￿kS are being developed with the Dèpartment lor Business and Trade and severd other groups and insti(utions lo gain att¢ice and experienTr. The Assistant Head will explore wssible markets and investors, reportiry back to the Strategy Group and Governors The repLrtation ol The RGS Worcester Family of Schools continues to grow through ex¢eptional Public Examination results, breadth ol choice and opportunity in academic and co-curricular activities, pastor care, use of educational 18chnology, Careers guidance and education and, most r￿ntly, rec&iving a nation81 award for educational partnerships. We continue lo build on this reputation by r8viewing ar enhancing dl aspects of our provision, seizing opportuntties to work with Oth￿ partners and working towards completion of our Ten Year Development Plan Principal Actlvttles of the Year. The Charity principaity provides ￿UcatIon in or near the City ofworcester and Droilwich at its four siles to boys and girls aged 2-18. There were, on average, 1,60912024.. 1,6321, PLJpils attending the School during the year representing a reduction by 1.4%, which is less than the national average of 1.9Yo las reported by the BBC on 5 June 20251 affecting all independent schools following the imposition ol VAT being applied to school fees. Go￿rnor$ aro comrnitted to ensuring a first-class edwation at an affordable price. & RGS Dodderhill. The strengths of the School had been highlighted by numerous sutveys and information gaI￿ring and are achieved by pastorally minded and dedicated staff that inslil a positive and nurturing atmosphere within the School. The new Head, Ms Arny Page has been specificalty selected by the Board ol Governors to help drive the School forward,. she will focus on improving educational outcomes and enhancing the overall pupil 8xperienc8 across both the curricular and extra-curricular domains. Governors have a high level ol confidence in Mrs Page's ability and skill to make the School moro appeJing to parents in the loc area- it is a very exciting time for FIGS tknlderhill.

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 Grant Making Policy Bursary Policy. The Govern(xs wish to ensure that the opportunity for children to benefft from the edLJcalion offered by tho School is not unreasonably restricted by parents, abilty to pay lees, Means-lesled bLJrsaries are made available in the form ol a romission ol up to 100% ol the luilion lees payable, depending on the financiJ, compassionate or other pertinent circumstances ol applicants. To ensure that pwple in genuine povety are not exduded, as well as covering tuition fees, bursaries may be exlended to cover or contribu18 towards the costs of such additional items as school lunches, uniform. Iravel costs, 8xamination lees. equipment required lor educational, sports or co-curricular activities and foreign exchange and other educationally important trips. The Foundation Office makes a significant annud contribution to Bursary Funds wh￿h helps to maintain lee levels at an affordable level. & Priorities. A number ol factors wll b8 cwS1der￿ when making the judgement as to tho justification for support, and the extent of such supp(yt. In the main. a child's suitability for the School is the first consideration in granting a bursary. In assessing a child's suitability, attention will be given to their academic assessment, bul potential will also be considered as well as actud achievement. Each applicant musl meet the School's normal academic requirements and any puKMI to whom support is offered must, in the opinion ol the Head, be likely to make sound academic prcNJress following admis8ion and wssess the rKitentid lo develop the quality of his or her work. A considerable degree ol commitment and effort wll be required and a good record ol effort and behairiour in previous ￿h0O1$ will be essential. Since Tre RGS Worcester Family of Schools are ol high academic standards il will normally follow that those achieving the highest results in the entrawe examination will be deem￿1 most suitable. Consideration will also be given to how a pupil might benefit from participation in the wder, co-curricular act￿￿tI￿5 on offw at the Schod. 9. Assessment. Atth{￿gh the priority in making an award wi15 be suitability, the amount will be based on linan¢id need. Each case will be assessed on its own merits and awards are made accordingly. subject to available funding and the levd ol demand. It is recognised that judgements about what sacrifices a family should make lo pay school lees will be personal and the scde ol awards is therefore not rigid. However, the School has a duty to ensure that all bursary grants are well-fwLsssed and so, as well as current eamings, other assets and lifestyle factors will be considered in delerrniniro appropriate level of grant. 10. Grants. The Govemors. grant-making pdicy is tempered by there being no significant endowment funds available to provide additional f1nancial support., bursaries therefore must be prokqded out of lee income. The granl-making policy has been subject to ongoing review in recent years with a view to increasing the number and vJue ol means-lesled awards. Thè Governors leol a cèrtain dilemma in this respect sin¢e th have attempted over the years lo keep fees as low as wssible, whilst at the same lime ensuring the Scho has the means to provide an excellent education. Thè Govemors consider increases in fees lo fund further bursaries to be unreasonable in that they would place further hardship on the many parents who alreacty make significant sacrifices lo pay for the advantages ol an independent school education for their children. 11. Awards. Scholarships, bursaries and othw concessions totalling £3,310,7CK)12024.. £2.978,70n have been awarded during the year to a lolal 0169412024.. 6491 pupils. These awards included means-tested bursary awards to the value 01 £949.15712024.. £996,392) distributed among 10512024.. 1031 pupils, 15 12024.. 131 of whom received 100%+ remission. 12. Prizes. The School has a Prize Fund. invested in the COIF Chartties Investment Fund with a value at 31 August 2025 01134,04212024.. £35,298) which provides prizes under the Mytlon and Blasson Legacies. AJI other prizes are funded from the School's urnrestricled funds. 13. Public Benefit. In setting objectives and planning activities the Govemors have given careful considèration to the Charity Commission's general guidance on Public Benefit. The Governors achieve this through providing use of thè School's lacilrties for a wide range ol community events and activities and through outreach and partnerships provision for pupils from local state schools.

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 We continue to grow the number of I￿al organisations who have used the facilities for aclivK(ies and these include those lisled bdow.. Alen Sports Umiled Badminton Club Chandos Symphany Orchestra Coram DadsvDads Drain Jel DroilNwch Archery Society DroilKich Cricket Junior [￿vIsion Drottwch Salty Picklers Drottweh Saity Picklers (Doris Wool DroilKqch Spa Cricket Club Droilv4qch Spa Vets lover 35.sl Drottwi¢h Table Tennis F￿cIng Club Footbdl Footlights Theatre Hoyte Football Club Leagues 4 You ttle Kickers Mum2Mum Worcestershire Nel First 4 Sport CIC Neifirst NetbJl Norton Cricket Club OE Cri¢ket Ombersley Cricket Club Perdiswell Colts 2 Powick Community Choir RGS Worcester Hirings Rounders league SB Danceworks Sands United Footbal Club The Elgar Chorale The Movement Company Walking Football Wesl Mercia Badminton Worcester City Fwlbal Club Worcester City Youth Football Worcester Nelba15 Club Worcester Pregnarry and Baby FaS￿e Worcester Raiders Vets FC Worcester Utd FC Worcester Utd Under 13 Tigers Worcester Wanderers FC Worcestershire County Badminton ASs￿latIon Worcestershire County Cricket Club Worcestershire Cricket Foundation 14. Outreach and Partnerships aclivili8s indude assistance to local schools by sending RGS staff and pupils lo support specific subjects and inviting pupils into the four Schools for aCad￿1C and co-curricular evwts and acliwties. a. RGS Worcester. Between Septembèr 2024 and July 2025, RGS Worcester hosted more than 40 events. We also engaged wlh several local schools through assemblies, lairs, and musica Contributi￿S, induding playing the Last Post al the Remembrance Sernqce. Additional￿, we supported their curriculum and learning alongside our Sixth Form pupils. (￿er 1.500 sludenls from 34 schools benefited from th8 Parlnership programme, which included event8 focused on MFL, Science. Art and [￿ama. Highlights included hosting the Worcester Primary Schcols Choir's 'Lel's Sing, event wrfch over 170 part￿tpants, Play in a Day, Debating Masterc18sses, Languages Day, Piano Masterclasses, and the Eggslravaganza. and the Faraday Science Challenges returned with great success. We also hosted Maths challenges arKI English Ghost-writing wothshops. Pupils from statè senior schools were aso invited to attend the RGS Careers & Higher Education Fair. b. RGS The Grange. Last academic year. we partnered with primary schools to Tun a series ol engaging events in areas like team building, coding. French, football, netball and cricket. Over the course of the y&ar. we welcomed more than 500 chIld￿n lo participate and connect with us through these enriching activities as well as using our facilities for their own requirements.

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 c. Holiday Club. 202412025 has been another successful year, with revenue increasing by £15,803, representing a 7.5% rise compar&J lo last year. Alhough summer rovenue was lower than expected-around £g,00018SS than the previous year-this was partty due lo having fewer operating days. Booknngs during the summer were also slighlly lower, Vvilh approximaldy 5QK) fewer bookings compared to last year. Numbers in the Sharks group decreased. bul this was offset by higher capacity in the Snappers group, which was fully book￿ throughout the summer. tknptte the reduction in told bookings, the number ol external children attending remained consistent with last summer. Outside of the summer pericé, revenue for each holiday club increased compared to 2023/2024, driinng thé overdl growth for the year. From October half-lerm through lo May hal-term, revenue rose by near £14,OW. aonggide an increase of 8round 150 bcokings. We continued to use the sch(KA minibuses to reduce transFKrt costs and identified r)ew venues offering more affordable experiences lor children, further controlling expenses. In addition, we maintained higher trip charges lor parents and remov&J the wrap-aroLJnd care option. Ajl parents now pay a flat £40 daily rate. regardless ol drop-off or collection limes. Thi8 change was based on last year's findings, where most parents wer8 tyx)knng wrap-around care anyway. This summer, we also extended openiro hours lo 5'.30pm daily and began prIY￿ding morning snacks lor the children. Both initiatives were introduced in response to parent survey feedback last year and were well- received ag￿rn this year. We plan to continue offering these added-vdue serV￿eS wing forward. d. RGS Springfleld. Molher and Toddler groL5P8 happen each week with attendees from the local crynmunity ￿nkS with the University ol Worcester have provided opportunitiès lor l(xal students to carry out teaching observations and gain lace to lace school experience, conduct research and placoments. The local 'Britannia Square Residents Asscciation, Community GrcKJp held their annual Celetryation rxcnic in our grounds in June. RGS Dodderhill. RGS Dodderhill has hosted a variety of events as part ol our ongoing commrtment to community outreach. A r￿￿t highlight was the successful Oliver Jr. Outreach Programme. which invited Year Six pupils from local primary schwls to take part in intensive workshops in singing, acting. ar dance. The programm8 culminated in a speciJ pertormance lor RGS Dodderhill students and the participants, parents, showcasing the children's hard work and newly developed skills. In addition, the School welcomed local primary pupils lo a dedicated ￿rfOrmarnce ol the Oliver Jr. production and continues to run OLrtreach events in subjects such as languages and computing. Thèse initiatives reflect the school's dedication to sharing its resources and expertise with the wder community 15. Review of Achievements and Perfomian¢e for the Year a. Performan¢e. RGS Worcester, RGS The Grange. and RGS Springfield received an exceptional outcome trom Ils ISI inspection in January 2025. The report highlighted an impressri8 'Significant Str8nglh' in the schods. leadership, pastoral care, and unwavering commitment to th8 persona and academic development ol every pupil. The inspectors praised the positwe learning ènvironment and the strong, r8specllul relationships between pupils and staff, noting that gtudents are highly confident and excel in a nurturing atmosphere. Ail regulatory standards were confirmed as mel, with a single recommendation to consider how to further enhance the PSHE pr￿rarnm8 IJ dder pupils. In response lo the rec0mrn￿ded next step, RGS Worcester has already made some further significant changes to the PSHCE programme.

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 For Year Ten and Eleven, lessons now 8mbedded in the timetable and the curriculum, whereas bef(￿e, pupils were taught in 'drop-down' sessions. Additionally, further links have boèn made between the taught content in PSHCE lessons, and the Tutor sessions that are run weekty by the Pastoral team. Finally, PSHCE lessons are being delivered by a selected team of teacher-experts that have had sr>eafic time ring- fern￿d on their timetables.. along with additional, new and developed resources, and taking into account feedback directly gathered from pupils, this will make a significant impact on all pupils, but spe¢ifi¢aty targeting the older years. A separale ISI inswtion of FIGS Dodderhill in November 2024 dso sqeld a highly positNe report. The inspectors celebrated the dedication of staff in fostering a supportive and enriching environment where every pupil can thrive. The rep￿ commended the school's curriculum and teaching practices, which ofi￿tIVelY nurture pupils lo become 'sell-molivaled learners and make excellent prDJre8s. It was affirmed that JI standards rdating lo safeguarding, leadership, and the qLJality of edLJcalion were met. The inspection's recommendation was lo strengthen the oversight of pastoral records to enable more efficient rekqew. b. RGS Worcester Academic Achievements. At A Levei, students attaned 61.1 % A'_A and 98.2Yo A".C. Tho results in 8TEC and CTEC subjects were equally impressive, with 95Yo ol all grades awarded al Distinction'_DislirTrction. the highest available. On average. each student exc￿ed their statistical expectations by +0.25 of a grade across all qualifications. Post-18 pathways were exceptionally successful, with over 95% of students securing their first-ckuce university or degree apprenticeship placements. Both pupils with Oxbridge offers met the required grades. Additionally, dl applicants to icine Ifive students). Dentistry lone student), and Veterinary Science Ilwo studenlsl swcesslully secured Ih8ir places lor this September. S8V8ral sludents progress8d lo d8gre8 apprenticeships, including placements in Accountancy IFISM and Delcyttel and Infrastructure Surveying Icarter Jonasl. The excellent performance extended lo GCSE level, where 38.2¥o ol all grades were awarded al the highest levels19-81, and 98.6% 01 grades were between 9 and 4. There were 262 grade gs awarded across the cohort. (fver 70 pupils achieved grades 9-7 in al least 7 subjects, demonstrating that high pèrform8nce was not Confin￿ to a smal group ol students. c. RGS Dodderhill, Academic Achievements. 22 Year Qeven and 2 Year Ten pupils sal GCSE Examinations in Summer 2025. 47% of Grades were 9-7, an &xception81 achievement and building on last year's success. 92Yo of al Gradeg were g-4. Individual successes continued throughout the Schwl including.. 68¥0 of pupils gained at least one grade 9-8 3 studonts achieved all grade 9-7 1 (Kl% of Drama GCSE pupils achieved grades g-4, 21.3¥0 higher than the national average 1 CO% of Music GCSE pupils achieved grades 9-6 1 COYO of Gecoraphy GCSE pupils achieved grades 8 or 9 I pupils achieved their first choice Sixth Form place,. 7 pupils transferred to RGS Worcestw for Sixth Form. 16. Cultural Activities RQS Worcester. Music. The year kicked off Mllth the second 'RGS ￿Ve, concert, featuring instrumentalistg and singers from ￿1 Year Groups perfoming a variety ol pop and rock songs together in Main Hall. The Michaelmas Term continued with two Autumn Concerts and the Chamber Choir once again singing at Sl Richard's HospI￿'S moving 'Ughts ol Love, Serwce. There were rnany performances in Assemblies and, al the close ol th8 term, 'Chrislmas with the Big Band, in Perrins HJI celebrated the light&r sid& of lestiV8 music wlh Ihe Big Band joined by the fiLrte Ensemble, Guitar Group, JunK and Senior Jazz Ensembles. 10

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 Then there was the traditionJ service of lessons and carols in Worcester Cathedral, led by four major choirs. In the Lent Tenn there was a Piano Concert Imlh guest soloist George RoK4ey giving maslerclass sessions to several ol our most advanced pianists before he joined them In a high-quality evening recital. Year Seven also enjoyed a concert trip lo Symphony Hall, Birmingham lo watch and listen to the Ctty of Birmingham Symphony Orchestra play a varied selection of short orchestral pieces. Tho Chamber Choir had a thoroughly enjoyable trip lo sing Evensong al St George's Chapel, Windsor in March before giving a Lunchtime Rècital at Worcester Cathedral later in the month. Sandwched between these two performances, and in the Cathedral, was the highlight of the musicJ year.. our 'Concert in Colour,, featuring all four RGS Schools. Lower Sixth pianist Sasha Penlinglon and the RGS Orchestra earned a mighty standing ovation for their stunning performance of Gershwin's somina 'Flhaps(Mty in 81ue'. The concert closed with a specially-curated medley ol 'Gold' Songs sung by a mass choir from all four RGS Schwls. Following another successful Cabaret evening wh&re $8nior singers performed with the Big Band, the Trinity Term featured a 'Let's Sing, Outreach singing workshop with 170 primary schod students. There were more choir performances at the Commemoration servi￿ and Lower School Prizegiving. and several ensembles were on show at the Creative Arts Evening in June. A spttcial Summer Celebration concert evening concluded the musical y8ar, Jlowing students, parents, teachers and our dedicated Feripatetic team ol irisiting music teachers to come together to say a very lond farewell to the talented Upper Sixth cohort and Mr Soman, after six successful years as Director of Music. Drama. The year began wth a bang in November, as our Senior students wo￿1 audiences with a lThie- show run ol Bonnie and Clyde. Their èlectrifying performances, strong ensemble work, and powerfijl storytelling made it an instant hit. In March, th8 S8niors returned with The Ash Girl, performed by two a￿errnatlng casts. This magical yel haunting adaplalion of the Cind8rella story tested their acting skills and showcased their maturity and emotionJ range. The summer production saw Years Seven lo Ten lake centre stage in an extraordinary five-nighl run of Harry Potter and the Cursed Child. The show was a triumph, filled wlh spellbinding effects, energy, and imagination- a real celebration of young talent. 88yond the stage, students ￿s0 enjoyed enriching experiences through drama trips. The A Levd students travelled to Cornwall, where they explored the work of Kneehigh Theatre, studied Greek theatre in context, and saw the spectacular Bat out ol Hell musical. A week-long residential in Odando Off￿ed even more opportunil to develop performance skills. Meanwhile, theatre trips to the fisc's Pericles and Tre History Boys in Malvern gave pupils insight into professional productions. Our many clubs have also thrived. Muscal Theatre Club and the Junior and Senicy Spotlight groups all worked hard through(￿1 the year, wlh Spotlight members proudly sharing devised performances in July. Tech Club was the creative force behind the scenes, designing wops, sets, and lighting effects lor productions throughout the year. Dance Club also shone brightly, culminating in a slLJnning evening ol dance in March, The Drama staff again took centre stage for a charity production of the hilarious, bul thought-provoking, 'Teechers' by Jthn Godber and raised funds for three desèrmng charities. Debatlng. The Senior Society has b&n particulady successful with over 50 students taking part in tr&ning sessions and debates. season startèd slowly with the Warwick Schools competrtion in Octo proving very challenging and attracting over 50 entries, including teams from Ukraine and Asia. A Lower Sixth pair did exceptionally well to come 10 The ￿￿thwest round of Cambridge Schools in January proved similarw successful bul ullimaldy a little fruslraling.. the lop three teams qualifi8d lor finals day but RGS teams took the next four placesl Al Nottingham Schcds in February, a Lower Sixth pair were crowned overall Champions against 51 other pairs. Three days later, RGS Worcester hosted the Midlands round ol the prestigious Oxford Schools competition, al which only the top lour from 32 teams would pr(￿reSS, but RGS secured first and third placings. The Fin81s Day at the Oxford Union involved 115 teams from across the globe, with both FIGS teams winning at least one debate. The Senior Debating year cu1minaled in the annual black-lie Dinner in April attended by over 40 debaters, wth Dr Chris Monaghan, PrincipJ Law lecturer at the Univèrsrty of Worcester, as guest speaker. 11

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 Deslgn Technology. Each year. the department grows busier and more dynamic, wth students continuing lo push the boundaries of design. The Upper Sixth students set a strong example with outstanding design work. Their pro1￿tS ranged from a wheeled trolley to assist the elderly, a toldable desk for students, and carbon librè hydrofoils for a kayak. The standard of portfolios was exceptional-some nearing undergraduate quality- and most are gcxng on to study Engineering or Design. Year Eleven Engineers tackled the ¢hJlenge of creating devi￿ to reduce, remove or recycle polymers. producing clever working prototypes like shredders and crushers. Meanwhile, Resistant Materials students designed a variely of useful household and garden items. Lower and Middle School pupils brought high energy and curiosity to every aspect ol the subject. One of the highlights this year was the resloralion of a 1950s Citroen Traction Avant. Students from Year Seven to Lower Sixth have eager￿ contributed lo tho project thus far. Several enriching trips and guest speakers have help8d expand slLJdenls' horizons. A visit to Fl Williams in Oxford offered the chance to view the worfd's largest private F1 car collection, race on simulators, and run crash simulations of nose cones. Year Ten students visit￿1 the Morgan Motor Company to see handcrafted cars and witness their classroom learning applied in the rèal world. Another highlight was hearing from engineers involved in the Thrust SSC land speed record attempt during a Iqsit lo the Coventry Transport Museum. At the Mallory Park. the ScMol's Greenpower team placed 4th and 5th and wasl&l no time dismantling the car to reduce weight for a shot at the top three. Students from Year Eight lo Upper Sixth were instrumental in developing a new car, which will feature a carbon libre shell. Two students wer8 awarded prestigious Arkwright Scholarships-a national￿ competitive award granted lo the UK'S most promising youn9 engineers. Art. The Michaelmas Term began saw the new Sixth Form artists visit Worcester to seek inspiration for their initial projects. The annual èxhibition al Worcester Cathedral was particularly speoal, taking the form of a retrospective., and the Chapter House provided a StrI￿.ng venue, Jlowing the diversty of media and remalkable taenl of OLJr aspiring artists lo shine. For our GCSE students, this year's examinalion theme, 'Gatherings', sparked a wea￿h of imaginatwe responsès. A visrt to the city of Oxford offered rich inspiration from archttecture to ambience- and students retumed with a stunning array of imagery, from butterfies to Buddhas and flutes to fossils. The Art Departmènt were delighted lo host pupils from Si Bamabas Primary School. who created imaginative paper heads inspir8d by Picasso and ￿chIer￿e1rn. During our Open Morning, visrtors were invited to dress as a famous painting - a pla￿[ and popular activity that added colour and creativity to the event. The department also tcK)k part in Sl Richard's Hospice's "Great Waddle" and decorated Vesta the penguin. Art co-curricular clubs continued lo flourish, wrfth the Lower School Art Club contributing a moving piece for Holocaust MemoriJ Day that was displayed al The Guildhall in collaboration wth the Music Department. Mindfulness Club continues to attract enthusiastic participants. and our new PhotcNJraphy Club has been a resounding success, off8ring pupils yel another outlet lor creative expression. Cre*ive Arts Evening once again prowded a platform to celebrate student work from both Year Elevw and the Sixth Form. 11 is dways inspiring lo see how our young artists meet creative challenges with such individudity, sensitivity and passion. Textiles. Lower Sixth Textiles students travelled lo London in March lo explore research opportunities for their individual PersonJ Investigation coursework projects. A visit to The Saatchi Gallery lo see the 'Flor8 in Contemporary Art and Culture. exhibttion prowded a vibrant experEn¢e and The V&A Museum History of Fashi￿ Collecticfft gave an insight into garment style and silhouette. Finally, the 'Vogue.' Inventing IhÈ Runway, immerspie show, celebrating 100 years ol Vogue, at The LJ"ghlrwm, featured an exhilarating 1￿MeY into the wodd of the catwalk wlh the likès ol Dior, Chanel, Westwood and McQueen. Th8 opportunity to work collaboratively with the Battle ol Worcester Society was an exciting project for pupils in Year Eight, who were set the challengè lo design a bannèr in the style of those featured in the War. The pupils, together wrth students in Lower Six1h, panted the winning design together wth three ol the origina regiment banner designs from the English Civil War, and these were then displayed in Cop8nhag8n Street during the city's 8altle of Worcester celèbrations in August. In June. the Textiles Department host&cl the Midlands Regional Finai of the prestigious Young Fashion Designer UK IYFDUKI competition, involwro over 250 entries from more than 50 schools across the Midlands and North. This centred on the theme 'Eco Thread Challenge- transform the threads of yesterday to the fabrics of tomorrow,. with enlranls submitting a range of themed design work lor judging by a panel ol industry professionals. The day offered a programme of activities, including a last-paced Upcy¢le Chdlengtt, talks from industry prof8ssionals and 12

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 202S a ga11ery-style exhibition of the pupils. final pieces. An Upper Sixth student won the Upcycle Challenge and came 2nd in the Design category, with a Lower Sixlh student reCeI￿l￿g a 'Highly Commended, in the Design category. A Year Nine pupil came in the top four at in her age range and a Year Eight came 2nd in the Years Sèven and Eight category for the second year running. The Textilès Fashion Show look place as part of The Creative Arts Evening, featuring pieces created by pupils across JI Years. Year Seven pupils displayed their vibrant lie-dye T-shirts and Year Eighl's handmadè bags, while Year Nine presented stylish sweatshirts and Year Ten modelled their bodices and skirts. Lower Sixth students imprèssed wrth their sustainatje denim and outerwear designs, while Upper Sixth pupils closed the show with their stunning A Level finJ collections. RGS The Grange. The past year has distinguished by exceptional achievements in Music and the Pertorming Arts. Early in the year, Year Six performed at the Royal AltÈrt Hall as part o18arnardo's Young Supporters Concert-a memorable opportunity lo appear C￿ a wodd-class stage. The feslive season brought further highlights, includiro th8 Pre-Prep Nativity and the Choir Performame al Woreesler Cathedral, both delivered with joy, discipline, and confidence. Performing Arts Week, success at the Wor¢ester Competitive Arts Festival, and excellenl ABRSM and LAMDA results further showcased the lalenl and commitment ol our pupils. The inaugurJ Gig Night established an exciting new tradition. while nationd recognition was achieved when the Chamber Ckur received the Judges, Award at Bamardo's National Choir 2025. Collaborative events such as lh8 Coricert of Colour- Rhapsody in Blue and the Spring Concert with RGS Worcester highlighted the depth of artistic excellence across the School. The year concluded with a spirited Year Sti production of Malilda-a Ittrting linde to a programme that celebrated imagination, courage, and the joy ol perfomance. Collectively, these achievements enriched the cultural life ol the Schwl and reflected the creativity, confidence, and collaboration at the heart of an RGS The Grangè education. RGS Springfield. Pupils partvipated in plays and perfomances. Examples include outdwr Natiiities, Carol Services celebrations, concerts and pertormances throughout the year wtth dl children participating al least once. A highlight was the exceptional production ol 'Oliverl JR. in March lor those in our Years Three to Six, a directional debut for Mrs Morgan. The year closed with our find Springfield School Concert 'The Sound ol Springfield, wth performances from Year Six Instrumentalists and the Springfield Choir as well as instrumental ensembles. Children undertook Music and Theatre exams as well as LAMDA exams throughout the year. The school allows Duke of Edinburgh students to undertake vcAunteering in After School Care or lo help wth Sports Clubs. RGS Dodderhill. Across all key stages. pupils al RGS Dodderhill are offer8d a wide range 01 enriching experiences. Music and the pèrforming arts are a key focus, with sludenls attending a performance by the City ol Birmingham Symphony Orchestra, ar(1 showcasing their laents in lermly Music Recitals and P&forming Arts Showcases. Tr School also hosts severJ major events throughout the year, including the Nursery lo Year Six Harvest Festiv81. the 'Twas the Night Before Christmas. production, and the Whole-sch￿l EisteddlcQ. Additionally, the schwl's creatrie groups have rep￿sented RGS Dodderhill in the wider community, with the choir performing at Birmingham Town Hall and Worcester Cathedral, and IhÈ Dance Company performing at the Redditch Gotta Dance event. Beyond the performing arls, studènts participate in a variety of other enriching activities. Prep pupils performod in the 'Dodderhill's Gol Talent, show, and showcased their skills in the 'Creative connecti￿8, performances, exploring the theme ol Conflict and Peace through music, dance, drama, and poetry. To complement classroom leaming, pupils across all yèar groups participate in a range ol trips, Including the PGL Trip and a residential f(K Year Five and Six students. The school also embraces cultural celebrations. such as the Lunar NÈW Year Enrichment Day. 13

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 17. Trips and Expeditlons RGS Worcester. Duke of Edinburgh Award. The early expedition season in September started in eamest with training taking place lor Gold near Anglesey and Snowdonia. North Wales, and for Silver in the Long Mynd in Shropshire. The weèkend provided vital knowledge, experience and confidence lo JI participants as th&y prepared lor greater challerues ahead. Practice expeditions continued in Lent and Trinity terms. The weather conditions were more lavourable, which enhanced the pupils, 8njoymenl of each trip. The large Silvèr group conquered a significant area of the Black Mountains, and the Gold canoe group returned to North Wales lo further refine their skills. A Year Nine cthort ol nearly 1CO pupils applied their tr&ning v effectively in the countryside of Malvern, Mthich also included cooking independently and camping ovemight lor the first lime. The expedition season was completed successfully with our Year Ten Silver groups beginning and completing their journeys in the picturesqLJe grounds of Chatsworth House and the area between 8akewell and Hartington in Derbyshire. Parents and guardians were inmled lo watch the pupils deliver presentations on a range of expèdition goals. including tracki￿ team spirtt. andysing flora and fauna. monitoring changing roles within the group and lening about historical landmarks. It was a wonderfully informative evening and momwt ol celebration, giving the pupils a chance lo share more of their exp￿Jit10rn experien￿$. The Gold cohort c￿npleted the School's first hybrid exp8dition, walking and kayaking for two days each acr08s and around the rugged landscape of the Isle of Arran. Despite some chdlenging weather, which included very high winds, and unwelcome swarms ol midges, the expedition was a success. and everyone acquitted themselves admirably. FinJly, in the last week of Trinity Tem, our Year Nines completed their Bronze assessment in and around Malvern and the South Worcestershire countryside. CCF: Amiy Section. In OetobÈr, 29 cadets headed to Nesscliff Training Area to sleep under bashas and perform a range ol actiwties. including oriènteering, map construction, camouflage ar￿ conceJm8nl, hand signds, day and night movement techniques, and various types of cra￿. The March trip to the Venture Centro on the Isle ol Man saw cadets engaged in a variety of adventurous activities from coasleering and gorge walking to high rope8, zip wires, and obstacle courses. The annual Summer Camp enabled cadets to take to the 25m range, showcasing impressive marksmanship. and then an aftemoon of archery and a laser shotgun shool-ott. There was aso training in T18UA (Training in Built-up Areas), and the Al¢ar Chalerige, a six-event round robirn involving an obstacle course. a cyber and communications challenge, a high-rKessure vehicle checkpoint s￿narIO and a paintball CQB (Close Quarter Battle) lane. The cadets dso had to tackle a biohazard scenario and finished with a paddle around ￿Ver￿1 Ajbert Docks. CCF: Royal Navy Section. Th& October Field Day visit lo The Lakeside Campus saw Archery and the Leap of F&lh being the highlights. April's trip lo the Isle ol Man in conjunction with the Army Section offer sc¥ne chJlgnging adventurous trainiry, and then in in the Summer, the section had a very succe88ftJl s&ling adventure and climbing at Aztec, as well as a trip to NMS Belfast. In addition, there was a triseThqce trip to RNAS Yeovillon where cadets learnt the inner workings of a Royal Naval Air Base. CCF: RAF Section. In Octoter a group of Cadets had the opportunity to take to the skies at RAF Cosford, taking control ol the arcraft and performing basic manoeuvres such as prtch, rolls, and even awobatic loops. The Section relumed lo RAF Cosford in March lor a STEM wothshop led by senior RAF yber communication technicians and then received a rare behind-lhe-swes lour of the Mechanical Training School, exploring the intricate maintenar)ce pr(Thsses ol various &r¢raft, including the iconic Tornado fighter jet. The conclusion of the Space Studies programme aso saw a51 participating cadets eam a new qualification in space science. For the Summer camp, the cadets enjoyed raft building, paddleboarding. high ropes. climbing. and even aerial trapeze activities, which tested their limits and pushed them beyond thèir comfort zones. There was also a visit to the FIAF Museum at Hendon. To explore the origins ol flight and g￿n a dper appreciation of the courage and innovation that have defined the RAF through the decades. 14

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 b. RGS The Grange. Throughout 2024-2025, pupils across all age r￿ge$ enjoyed a rich variety of academic, cultural and rèsidenlid trips. Each term. childrw took part in visits that not only provid memorable experiences bul also inspired follow-up work back in school. The pr￿ramrnQ was wide- ranging, with destinations including Warwick Castle. Ltrtle Owls Farm Parf<. Blisls Hi11, Bishops WocKi (Stone Agel, RGS Worcester Textiles, Loughbor￿gh University ISTEMI, the ROYJ Albert Hall, Swan Theatre, Think Tank, Birfflingham Botanical Gardens, Chedworth Roman Villa. ￿ttle Big Town. Worcester Wwds (Running Clubl. the BE￿ Show, Go Ape, Black Country Museum, Lego League, Draylon Manor and the Malvern Hills. Residential OKifMYtunities further enriched the year, with pupils embarking on trips lo Mount Cthk Imatlockl. Mill on the Brue, 8LJshcraft, Edale, France and Italy for the school ski trip. c. RGS Springfield proiqded opportunities for pupils w(th a Year Six overnight stay in London and the BE￿ Show in January, and two residential8 in May with Year 3 and Year 4 trip to Croft Farm in the Cotswolds and Year Five and Year Six trip to Cluminglon Manor. Local trips continued to suprK)rt the widest wssible educational offering such as Blists Hill, Lower Smite Farm, Birmingham Think Tank, Wamick Castle, Sealile Centre, Chdtenhwn Festival, Black Country Museum. British Motor Museum as well as Think Tank in Birmingham. Some of our Year Six children were also lucky lo gel lickels to Wimblethn in July and those who were unable to attend had a fun biking day in Ihe Forest of Dean. RGS Dodderhill. Across JI key stages, pupils at RGS Dodderhill are offer8d a wde range of eririching experiences. Ivlusic and the performing arts are a key locus, with students allending a performance by the City of Birmingham Symphony Orchestra, and showcasing th&r talents in t8rmly Music Recitals and Performing Arts Showcases. The school dso hosts several m4or events Ihroughml the year, including Ihe Nursery to Year Six HaNest Festival. the 'Twas the Night Befo￿ Christmas. production, and the whole-school Eisteddfod. AdditionJly, the school's creative groups have Tepresenled RGS Dodderhill in the wider commun((y, with the choir wrforming at Birmingham Town HJI and Worcester Cathedral, and the Dance Company performing at the Redditch Gotta Dance event. Beyond tho performing arts. students participate in a variety ol other enriching activities. Prep pupils performed in the 'Dodderhill's Gol Talent. show, and showcased their skills in the 'Creatpie Connections, performan￿$. exploring thè theme of Conflict and P6ace through music, dance, drama, and poetry. To complement classroom leaming, pupils across JI year groups participate in a range ol trips, including the PGL Trip and a residential for Year Five and Six students. The school 81$0 ombraces cultura celebrations, such as th8 Lunar New Year Enrichment Day in Prep. 18. Sports a. RGS Worcester. The Under 18A Hockey team had an exceptional season, winning 32 matches and losing only 2, excluding pre-season toumamenls. Their consistency, laclical discipline, and attacking flair were reflected in a remarkable goal difference of +54. Highlights included a long run in the National Cup. which saw them reach the North Semi-Finals aganst Loughborough High. After a lense 2-2 draw, the team evenluJFy lost out on shuffles to the eventua tournament winners. The team aso mainlaned an undefeated record at home throughout their Friday Night ￿ght$ series. The Under 16s enjoyed a thrilling run in their Cup Competition with wins against Chdtenham College and "ng's, Worceslor, but their campaign ended with a M draw and shuffi8 loss to Redmaids, the eventu champions. The Under 14As, having won 10 of their 17 matches, progressed to the Regional Finds ol the Tier 1 Cup, but fell to a strong Clifton College side that went on to win the enlire national competition. The Under 13 Boys team won the prestigious MJvem College Invilalional Toumamenl, where they overcame several high-prolile hockey schools. They also progressed to the semi-finals ol the Midlands competition, proving themselves as a talented and promising squad. The 1st XV rugby team secured bNO eady one-point wclories ag￿nsI King's. Gloucester and Christ College, Brecon and then continued this momentum with high-scoring performances ag&nst Cathedr School, Uandaff and Trent College. 15

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 Tnis success created an energelic and unified atmosphere across the Sch(KA, as was besl shown during the final fixture block agansl King's Schcol, Worcester when RGS teams recorded 7 wns, 2 draws, and just a single loss in the 17th Modus Challenge Cup. The match, held al Sixways Stadium, proved lo be an exhilarating and fiercely competitive event, once agan highlighting the lJenl and sportsmanship ol Lulh sides. lfjng's, Worcester ultimately cl&med a well-deserved 29-19 wctory. A particular highligm ol the sea80n was the Fyogress of thrèe teams into the later r￿rnds of their respective national cup compètitions. The Undèr 14s delivered outstanding performances in Ihar liclories over Bromsgrove. Oakham and lfjng's. Worcester but then were knocked OLrt by a slroro Northampton Sch￿1 for Boys side. The Under 15s also pr(￿UC￿ strong performances and clamed hard-lought wns against Malvern College, Solihull and KES Birmingham. In the Lent lerffl, the Sevens sèason saw RGS teams win live pieces of silverware. The Under 12s won the Shield al Bishop Vesey's and Middle School teams impressed, thrinning th8 Plate al Solihull, the Cup at Old Swinford Hospital, and reaching the W&wick Cup Final. The Sèniors won the Trophy at Collegiate and the Shield at King's School, Worcester. At the Rosslyn Park National Schoo15 Tournament, the Under 13s won more than they lost, while the Under 14s advanced lo Day 2 after ifjctories over Merchislon Castle and Sl Peler's, Yolk bul narrow missed out on progression despite a win over eventual group winners Trinity School, Croydon. The Under 18 Boys won two of three Vase gmp games, while the Under 18 Girls reach￿1 Day 2, finishing an impressive 5th in kne Plate competition, just shy DI the Semi-fin￿8. The School fielded 23 N8tball sides competing in over 230 fixtures against 47 different schwls. The Under 14A team reached the NationJ serni-finds of the 'Sislers n Sport. Ple and narrwdy rnissing the County Final by one goal. The Under 16s took first place in th&r dislricl lournamenl and dso performed well in the county tournament, winning JI PCKJ games convincingly before narrowty missing out in the semi-finals. The 1 st Vll had a remart<able season, finishing third nat￿allY after reaching th8 prestigious Find Fours Day at Loughborough University. En route, they beal some of the country 8 top schools, induding Oakhaffl, Ralcliffe College, and Magdalen College School. They also pr(￿uced a stellar performanTr at the Collegiate Tournament, winniro fNe out ol six pool games, defeating KES Bath in the semi-final and then avenging an earlier108s to Taunton with a dominant 13-5 in the lina. Al the Final F￿rs, after a close loss to Marist School, ttr￿Y secured third place with a 1 fv13 victory over Sedbèrgh in a thrilling final play-off. A highlight ol the season was the 'SuperbJl' match at a sold-out University Arena. After the 2 team's spirited performance in their 14-15 loss, the team secured a 2&22 win, marking a third conse(xJtive Superfoal victory and a seventh in the past nine years. A number of RGS Netballers earned seleclica lor Under 13 and Under 15 county academies and frawhise pathways, including Nottingham Forest. 8imingh8rn Panthers and Loughborough llghtning. The Footbal programrne has Continu￿ to grow wtth higher participation numbers. improved te¢hnic ability more depth, which has resulted in the need lo source competitive fixiures further afield. We have pilled our wils against Monmouth. Abingdon, QEH, Princethorpe and Tockington as well as some schools closer lo home. The 1 Xl's attitude and application, and the intensity ol their performances, were outstariding in dl 23 matches, ol which they won 17. The inner drivg and sheer quJity the players demonstrated so consislenlly throughout the last two terms in their performan￿$ confirmed that they were the best SqLJad in recent memory. These attributes were best shown in the exciting and dis<iplin8d perfomances against Malvern, Clifton, Replon, Millfittld, Wycliffe, Pe's and LoLJghborough schools. However. the undoubted highlights wero the matchès against Bromsgrove and lfjng's. Worcestèr in the annual Challeng8 Cup, such was the manner of the performances. the qualtty of the finishes and the she8r dominance ol both Iqctories. 16

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 At representative level, a number of RGS girls and boys have continued lo thrive and flourish at ESFA, Academy or ISFA levels. As the season d￿W lo a closè, RGS hosted an Oulr8ach Primary FoolbJl tournament as well as the Annual F(K>lball Old Boys (Alumni) tournament. In Cricket, the 1 st ￿ enjoyed a successful lour lo Barbados over February Hall term, gaining valuable experience in chalenging conditions and embracing Caribbean cricket culture. The team played live competitive fixtures, Winn1r￿ two. Back in the UK. the side reached Round 4 of the National T20, narrowly losing to Shrewsbury in a last-ball thriller. Saturday fi*(ures saw some brilliant b8tting performances, vdth one U6 student securing consecutive cenlurie$1123 vs the Aumni Xl and 108 vs Bromsgrovel and narrow￿ missing out on third in a win over Sir Thomas Rich's. It was also pleasing to see two pupils, one each from Years Nine and Ten, make their 1 st Xl debuts after impressiva performances lor their own year group teams. RGS Lancast￿ hosted this year's FIGS Feslwal, with low scores a Ihome throughout the week and costing the teams in the fixtures ag￿nst Colchester and Newcastle. After a particularly well-execuled iclory against Lancaster on the finJ day. in a rain-affectÈd match, the Xl managed to secure a win via the DLS method. bringing the linJ tdly to two wins from IDre matches. Girfs. Cricket has continuod to develop and there were several notable individual contributions, which saw a few Lower School pupils playing up lor older teams. A Year Ten pupil scored a record-breaking 97 (the highest score ever by a schoolgirl al FIGSI to power the Undèr 15As lo a thrilling win in a 100-bdl chase against Solihull. She continued her outstanding form in the National 100 Ball against Wrekin College. laking 4 wickets lo help dismiss the opposition lor just 57. before sealing the win wlh an unbeaten 33. The team then came up against a strong Cheltenham College side. The Gids, 1st Xl was unfortunate to come up against a strong lfjng's, Worcester side in the First Round ol their Nationa 1 W Ball Competition, falling short despite a composed 53-run opening partnership. The School's Rowors enjoyed a valuable week ol trwning al a HJI Term trining camp at Temple-sur-Lot in the South of Fran￿. 2 Uppèr Sixth students wenl slraoht from the camp lo Sp&n lor the Coupe de la Jeunesse Beach Sprints, where they won go￿ in a thrilling final ag&nsl the hosts. The domestic racing cJendar began at Stourport, and then 44 RGS pupils competed at the British Rowing Indoor Championships where they secured five top 5 finishes in the events lor Year 9 Girfs, Sixth Form Girts, Sixth Form Boys and in the Sixth Fom Mixed Relay. with thè latter two events resulliry in Silver medJs. In January, at the King's. Worcester Indoor Event, fr(￿ a squad o16g rowers, all 42 Lower School rowers won medJs in the mixed relays. RGS rowers also took the top 2 places in the Sixth Form Girls 2K and the Girts Relay, arKI Gold in the Sixth Form Boys 500rn. At the Worcester Head ol the River, RGS crews won J16 Coxed Fours. and both the boys and girls won their J18 Coxless Quads. Three more gold medals were won at The Wesl Midlands Junior Championships at Hereford and bronze medals were won in 4 other events. Both the Juni￿ Sculling Head at Dorney Lake and the Birmingham Hegatta provided invalLJable experience for experienced and younger crews alike, leading into Evesham Regatta, where RGS fielded 46 rowers across 21 crews. At the Junior Sculling Regalla, RGS rowers came 4, in th8 A Find ol the Girls J17 Double and 2 in the J18 event. More gold medJs were won al Worcester Regatta by the Men's J18 Coxless Quad and both J17 DoutAe8. At the English Beach Sprint Championships, 2 Upper Sixth students look bronze and gold, and then, al Henley Women's Regatta, made rt through lo the semi-final ol the Junior Double Sculls to confirm their place among the country 5 top junior double sculls. 80th girls then went on to dominate the Under 19 Solo event at the British Rowqng 8each Sprint Championships, winning the Gold and Silver medals. Both have since been selected to repres8nl Great Britain al the World Beach Sprint Championships.

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 The Schwl's Swimming Academy continuts lo show impressive progress wilh the Under 15 Girfs team achieving 1 Oth in the Freestyle Rday and 5th place in the Medley Relay final at the ESSA Tèam Relay Naliond Finals. The girts went on to win gold in the Medley Rday and silver in the Freestyle fielay at the Bromsgrove Inwlational Gala. Throughout the year, many RGS smrimmers performed both for RGS and their clubs. achieving County, Regiond. and National quJitwng limes. Two Year Ten twins were selected lor the England National Talent Pathway, and one also repr6sent8d England at the ISF competition in Serbia. wnning a bronze medal in the 2CtJm Breaststroke. At the Junior County Championships, RGS athletes achieved four podium finishes. wth gold in the 80m Hurdl8s, silver in the 8(Dm and Triple Jump, and brwze in the 3Wm. Al th8 County Schools Championships, pupils won gold in the Intemediate Girls, Hammer, Intermediate Boys, High Jump and Junior Girls, High Jump. Silver medals were won in the Intermediate Boys, 100m Hurdles and Intermediate Girls, Long Jump, and Bronzes in the Junior Boys, Javelin and Junior Boys, 1 (K)m. Two Year Eight pupils become NationJ Champions at the Preparatory Schools Championships in the Girls High Jump and Boys 80m Hurdles, and an Upper Sixth student was selected lo represent the Hereford 8 Worcester County Schools team in Ihe 4￿ffl at the National English Schools ChamFJonships. In the ESAA Cross-country Cup competition, the Intermediate Boys. and Girls, teaffls tx)th qualified for the West Midlards règiona final. Al the Worcoster & District Championships, 15 pupils made it through lo the Herefordshir8 & Worcestershire County Championships, where 4 RGS pupils then finished in the lop 5 of their respective races. At the Worcestershire Schod Games Cross-country, the Boys, team K￿(￿luCed a dominant perfomance w(th RGS runners taking the first two places. OverJl, seven RGS pupils qudified for the county teams at the National Championships, with an Upper Sixth student being given the honour of being selected to be Captain of the Senior Boys, squad. This year's December Fencing Gda was bigger than ever, needing both Tom Savage and Cobham Halls to accommodate dl competitors. Three RGS fencers qudified for the British Youth Chamyonships, winning two Bronzes and a Gold. and al the West Midlands Championships a Year aeven pupil won the Senior Women's Epee. A team of six COm￿ted in the Public Schools, Fencing Championships. Mqlh a Year Sghl pupil taknng 8th place in tho Wunt-Haes. 2 pupils were selected lo fence lor the Wesl Midlands in the Winton Cup and a pupil placed second in the English Fenciry Championships for Under 13 Epee. In Equestrian, pupils in Year Seven. competing in Showjumping at the National Schools Chamtxonships at Addington came 4" in the 8Qkm final and 2 in the 90cm final. Another look first place al th& Regional Norlhwest Dressage Championships, and a third, at the Dressage National championship finals at Addington, f nished third in the Under 21 c(Knpetilion, only missing out on the win by lèss th8n hall a per cent. A Year Ten pupil competed for Team GB at the Pony European Chamtyoriships in Le Mans, France and hel@ the team sècure a Team Silver. b. RGS The Grange. 2024-25 was a year ol both breadth and achievement for sport al RGS The Grange. As ever, the priority remained ensunry that every child had the opportunity to play, wlh all pupils taking part in fixtures across all thr8e terms. Incr8asiwly, we now play many of our I(￿al partner schools twice a term, both home and away, helping to provide well-matched and enjoyable opportunities for all wf(h quadrangles also being a common site. Competitively. the year brought outstanding succèss. For the first time, our UrKler 11 Boys, and Girfs. teams were crowned County Football Champions. a historic achievernent lor the school. The Under 11 Girls, Hockey team also reached new heights, winning the IAPS National Championship for the second time. On the national stage, pupils once again Competed in the National Preparatory Schools. Alhlelics Championships, al the iconic Commonwealth Stadium in Birmingham, and qualified for thè National IAPS Swimming Finals in both boys, and girls, Under 11 events at the Olympic Stadium. 18

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 Cross country continued to be a cornerstone of success, wlh RGS The Grange extremely competitwe at both local and regional level, taking part in Six different events including the National Finals al Ma￿ern College. Running Club remans one ol the busiest clubs at RGS The Grange. The Trinity tem provided further highlights in County Cricket success Iboysl, and runners up Igirlsl. Triathlon, Aqualhlon and Shwting were added to an already busy Trinity term with Under 11girls shooting success at the IAPS event held al the West London Shooting Club. Another significant nioment was the return of our annual sports tour. with every child in Year Six taking part in a Rugby and Hwkey lour to the Southwest. This tradition brings camaraderie. excitement and lifelong memories. As always. while victories and finals are celebrated, the true measure of sport al RGS The Grange remans the enthusiasm ol our pupils. Their willingness to pull on their trainers, embrace competition. simpty enjoy being activ8 wtinues to deline the spirit ol sport within our communty. c. RGS Springfield. A good year of competitive matches and tournaments lor boys and girls againsl a range ol locJ schools as well as being able lo participate in local coaching events for sports s￿h as Netball. Swimming continues al Perdiswell Mfjth all pupils having the opportunity lo develop their Swimming and play games such as Water Polo. The PE curriculum encompasses all the sports as well as Gymnastics, Dance, Badminton, Tennis, Athletics as well as strength and fitness. Othèr sports such as Stand-up Paddle Boarding. Fliding, Karate and lfjckstart Footy have been offered as part of our actwity programme and the take up has been excellent. d. RGS Dodderhill. For a smJl schod the students get an incredibly rich and varied diet of swrt and outstanding opportunities to represent the school at matches and fixtures throughout the year, The year started with pre-season netball and a residentia trip to Condover. As well as roviewing the fixture schedule lo get the right balance lor each year gr￿p we have also reviewed the Sporti￿ clubs to ensure students can do co-cumcular sport every day ol the week. This means that swrt at RGS Dodderhill is wide and varied.. from the main sport of netbJl, hockey, cric*el and athletics, lo trampolining, sailing, horse riding much more. 19. Charity Fundraising. The RGS wor￿ster Family ol Schools helped raised more than £22,976 Icx various charities in the academic year 2024-25. a. RGS Worcester. The tot￿ raised lor this academic year was £14.647.51, a considerable increase over last year's told, which was very pleasing. The Sixth Form's chosen charity was The Myriad Centre, a local charity which prokides specialist, personalised day respitè serbices for adults over 18 wtth prof￿nd learning disabilities. This was also the charity lo benefit from the Christmas Carol service retiring collection in the cathedral, when a total of £2,312.38 was raised. The Cwtre also benefited from the pr(￿dS of a Christmas Jumper Competition and some St Vdentine's Day-IkEmed lundr&sing. Members of the Charity Committee were able to lo visit The Myriad Centre to see for themselves the wonderful work done there. A member of teaching staff bravely had his beard Shav￿ off in November to rase rTK)ney lor Movemb&r, Worcester Street Café and Maggs Day Cenlre. A lolal of £359.25 was raised, lo be split equally between the three charities. The manager ol our Sixth Form Calé Organi￿ an Easter Raffle lo r&se money for Worcester Snoezelen, a local charity which prowdes sensory therapy for people with disabilities and additional needs. He raised an incredible £900, with dl the prizes comprising large amounts of chocolalel Our two non-uniform days for BBC Children in Need November and Comic Rdiel in March raised a total 01 £4,895.74. Undeterred by their experiences last year, hug8 thanks go to members ol the leaching staff who again took part in a Staff Karaoke to raise money lor 8BC Children in Need. The Drama department once ag￿n look lo the stage to perform 'Teeeh&rs' by John ber and rwsed £1,536.30, to be divided betwew Young Epilepsy. Betel UK and Diabetes UK. Other charities supported this year by RGS Worcester included St Richard's Hospice, Acorns Children's Hospice, the Royal Bri115h Legion's Poppy Appeal, Macmillan Cancer Support. Worcester Fo(KJ Bank. Wooden Spoon, Maggs Day Centre and the Grace Kelly Childhood Cancer Trust. 19

THE ROYAL GRAMMAR ￿HOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUQUST 2025 b. RGS The Grange are immensely proud of the generosity shown by our pupils. staff and families throughout the 2024125 academic year. ToJelh8r, we raised 24,708 to support a K4de range of charitiès. LK>lh locd and national. A particu18r highlight was our support lor Pets for Therapy. a cause close lo our hearts through our mueh-loved school t￿rapY dog, Jasmine. Jasmine plays an invaluable role in school life, offering cotnlort, c￿M and companionship to pupils, and our fundraising efforts will help more people experience the joy and emotional supporl that therapy animds can bring. Another standout achievement came trom staff member Mr Richard Millard, who ran the London Marathon in aid of SpinJ fieswch, sing awareness and kital funds for pioneering work to improve the lives ol those affected by spinal cord injuries. Alongside these key causes, our school community also supported a variety ol other imrK)rtanl iniliatrves, inclLJding Action lor Children, Bamardo's, Children in Need, Maggs Day Cenlre, Eco Day. Air Ambulan￿ lour chosen charity of the yearl, Rare Diseases Day in support of The Haemophilia Society, and Comic Relief. Each event reflected the caring ethos of RGS The Grangè and our commitment to helping others, and we are grateful to everyone who contributed to making this year's charty work SLKh a suc¢ess. c. FIGS Springfield. The children and staff have thoroughly enjoyed JI their furKlraising activities during the year with a variety of fundraising and direct donation events in yace. Charities selected were Maggs Day Centre, Guide Dogs, Acorns Children's Hospice as well as the annual charity appeds we support Corn¢ Relief and Children in Need. Our biggest fundraser to-date was a swsored silence which raised a magnificent £1,103 which was spltt betw88n our 3 chosen school charrties and our Christmas Fayre which raised just over £500. In told £2,319.95 has been raised by events initiated by the children. d. RGS DodderhilL As part of our Msion lo impact our wider community wsitDiely, we had another busy year supporting lctal good causes. The annual Macmillian coffee morning raised over £1.3 pounds. We once again supwrted Droitwich lo(￿ bank through the harvest donations which look Iwo minibus runs of food. The Droitwich community were exceedingly pleased. Following on from the successful Inaugu￿ colour established in 2024, we completed arK>ther run with our whole schocA omrnunity raising money for the Grace Kelly T￿nag@ Cancer Trust, The British Heart Foundation and so Birmingham Children's Hospital. Indeed, the individual houses supporled Ih8se charities close to their hearts throughout the year w(th cake sales, house builds. house obsla¢lo races, and through our fantastic H￿se Eisteddfod. 20. Financial Position. The Governors consider that the School is in a very secure financid position wi(h net assets of £26,842,00012024.. £25,867,000). This was a very unusual year with VAT being intr￿UCed on tuition lees a Ihird ol the way through the year with associated chang6s to school fees, registration lor VAT and the implications surrounding the submission of VAT relums. Continued careful financial management will be vilJ lo ensure the School remains financially stable whilst invèsting in Critical projeds lo improve the proiqsion and faolities across the schools. The Board acknowledges the strong cash wsition is underpinned by school leès prepaym￿t$ and net incoming resources are aided by bank interest on those recgpts as well as a lower than usual spèrid on Mairntenan￿ actpitties. These are unlikety to be repeatad and difticult decisions lo relocate pupils from RGS Springfield to RGS The Grange have been necessary lo hdp secure a linanciJly stable future.11 will be exlremely important to School communty that all efficiency savings are realised to enable the School to remain as accessible as possible and offer Unrr￿al1ed vJue for money. As part ol the Board's approach to risk management and long-term financial planniro, a decision has been taken to wtthdraw from the Schod's two legacy defined benefit pènsion schemes.. the Pension Trust Growth Plan and the Pension Trust CARE 80 Scheffle. The necessary actions will b8 progressed with the support ol the School's professional advisers. As the transactions had not been linslised at the balance sheet dale, no provision has been made w4lhin these financial statements. The associatèd financial impact will instead be recognisèd within the 2025126 financial statements. The Board has been advised that the estimated cost ol withdrawing from both schemes 18 likely to be in the region of £800,000. excluding professional lees. 21. Admlnlstration Gosts. The costs forthe administration ofthe Charity at £228,75312024- £179.0051, ￿MaIrn al less than 1 % ol the total net income for the Charity of £25,218,(￿l2o24.. £24,868.WOI 20

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 22. Reserves Policy. The Free FleseNe position remains heaV(hy and shows an increase 01 £821,(m12024-. £246,OWI. The Governors, policy is lo manage the finances ol the School in such a way as to generate sufficient Free Reserve to meet the current development plans whilst maintaining prudeme given the prevailing economic climate. The Govemors consider that free reserves in the order of £2.Om, or approximately 2 months, operating costs would be desirable, subi&t lo the prior demands ol further capil expenditure needed to achieve the School's strategic plan. Free Reserdes, excluding pension deficit 2025 2024 £000 25,393 121,5771 93 Unrestricted FLJnds Less Fixed Assets P8nsion deficit (due in more than one yearl 26.214 {21,5611 77 4,730 3,9 Restricted Funds totd 345 180 23. Investment Poli¢ies. The Govemors employ a low-risk investment strategy. a. The Pemiangnt EndowmenL The Permanent Endowment remans rgJistered as RGS Charity 527527. and the Company remains as the Trustee, with funds of £249,49312024.. E258,6961 held in COIF Chartties Income Funds. Simildy Invest￿ are the endowments of the Prize Fund vaued at £34,042 12024.. £￿,2961. b. Deposited lunds. PrLKlenl financial management has helped sustan a soltl funding and liquidity base for the School. Deposits are held in the short term money market on various terms prior to their use lor long term reinvestment in th8 School. Such d8POSits at 31 August 2025 were £7,500,000 12024.. £5,050.Cml Prfncipal Ri$ks and Uncertainties 24. Risk management. The Govemors continue the examination ol the principal areas of the School's operations, in conjunction w((h the Strategy Group, revittwing the major risks laced in each ol these areas on at least a termly basis. A formal review ol the Charity's risk management processes is undertaken annually. Where appropriate, the Governors alocate resources and establish review systems lo allow these risks to be monitored and mitigated to an acceptable level in day-lo-day operations of the School. The main controls include.. formal agendas and minutes Icy all board and committee activities formal terms ol reference for each committee strategic planning, detailed budgeling, management accounting and variance andysis forma1ised organisalionJ structures wrttrten policies and procedures clear authorisation and approval levels segregation ol duties in key control areas discouragement of payment of fees in cash vetting procedures for the protection ol children close liason with Senior Management and Staff traning prograrnmes whistleblowing procedurès 21

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 2025 The current most significant risks continue to be associated wrth mantaining sustainakiltty ol f8e incom8 against a challenging ecommic backdrop, managing a rising cost base, arKI the complexity assccialed wth remaining compliant wfch all relevant requirements. The Governors consider a significant source of financiJ risk to be that of the funding requiroments of the various pension s¢hemes for teachers and non-teaching staff which are impacted by laclors outside the School's contrd. To mrtigale this risk, the currenl and toreseeable service cost is monttored and periodic actuarial valuations are reiriewed lo assess the impact ol external factors on the scheme liabilities. Strategies are then considered accordingly. At the Budget announcement on 30 October 2024, the Govemment confimed that VAT would be applied to schwl fees from 1 January 2025. 11 also inclLAded an increase lo employers, Nalr)nal Insuram contributions, removal of mandatory Business Rates rdief and an increase to the Nation￿ Living Wage. The School will ensure il takes all possible action including roalising efficiency savings arKJ recovering VAT on applicable costs to minimise the impact to our parents. Future Developments 25. Objectives. The iMM￿late key objectwes within currerrt Slrat8gic Developnenl Plan are.. Continue to facilitate the drive for excellen￿ in all aspects of the Schwls, operations Enhancement of the RGS Wiycester inlrastruclure and facilities Further developrnent ol the Digrtd Leaming Programme Increase other inome streams including expansion of the FIGS Springfield Nursery and establishing an internationa schcol. 26. Worcestershire International Hockey Club Limtted. RGS Worcester and Worcester Hwkey Club have established a joint venture, Worcester Iriternational Hockey Ltd, which was incorporated in December 2019. The project cost has bèen financed by way of conlrlbuiic￿S from each ol RGS Worc8Ster and Worcester Hockey Club in addition to a long-term loan provided by Worcester County Council of £2. lm. The k)an has been completod and tran81erred to the School on 4 September 2025. 27. Key Management Personnel. The Officers ol RGS Worcester are the four Heads and the Director ol Finance and Operations, collectively referred lo as the Slfategy Group. Their remuneration is revi8wed annually by Govemors at their Summer Board me8ting. The process of review is led by the Chair ofGovernors and is initially conducted in discussion with the three Chars of the Governors, sub committees. The key inputs to this rwriew are updated benchmarknrvJ data from third party sources and annual wformance appr￿S￿5 ol each of the Officers. 28. Section 17211) Statement- Stakeholder Engagement. Tre Governors have acted in accordancewilh their duties codified in law, which include their duty to act in the way in which they considèr, in good faith, would be most likew to promote the success ol the School lor the benefrt of ils members as a whole, having regard to the stakeholders and matt8rs set out in section 172111 of the Companies Act 2006. Pupils. Pupils benefit from the School's excellent paslord prowsion with staff placing as much importance on pupils, all-rourKJ personal devdopment as they do on academic progress. Employees. The School re￿niseS that the oulities, skills and commitrnerrt ol its employees rAay a major role in the School's su￿ss. Tr￿ular briefings keep staff informed of School-wide developments, and wide- ranging employee benefits enhance their qualrfty of life. Staff wellbeing has been a key focus this year and will be 8 continued area of attentlon, 81ong with Èquality, diversity and inclusion. Parents. The School recognises the many bènelils ol engagirig with parents and has reimagined ils communications with parents over the past 12 months. An historic reliance on writtèn communication has given way to digital innovalicfis such as streaming Ir￿e and ￿corded audio-visual events and podcasts. Community: The School is proud of its place in the k>ca community and conscious that it has a significant beneficial impact on the loca eQ￿ornY and on lo¢J cultural life. 22

THE ROYAL GRAMMAR SCHOOL WORCESTER STRATEGIC REPORT YEAR ENDED 31 AUGUST 202S 29. Streamlined Energy and Carbon Reporting summary Summa Data for 1 Se Total Ener Use Total Greenhouse Gas Emission Total Intensit ratio per pupil tember to 31 Au ust 2025 3,969 279 kwh 747 tC02 1.609 0.46 tC02 2024 2,988,096 kwh 750 1(X2 1,632 0.46 tC02 per er UK Energy use covers The Royal Grammar School Worcester's activities across four schools. RGS Worcester continues to follow the recommendations ol the ESOS report 012024. Following on from the Upgrad￿ thermally efficient windows, further insulation ha8 continued and th8 Schods have a rcAling programme to ￿place all existing lights with LEDS. We have also ￿[￿raded nearty all electric distribution boards. Associa18d Greenhouse gases have been calculated using the UK Government GHG conversicfi factors for Company reporting lor 2025. Approved by the Board on 22 May 2026, and stgned on its behJl by'.- Mr Andrew Greenway Chair ol Governors 23

THE ROYAL GRAMMAR SCHOOL WORCESTER INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS Oplnlon We have audited the financial statements ofThe Royal Grammar School Worcester I'the charttable company'l lor tho year ended 31 August 2025 which comprise the Slalement of Financial Activtties, Balance Sheet, Cash Row Statement and notes to the financial statements, including significant accounting policies. The financia reporting framework that has been applied in their preparation is applicable law and United lfjngdom Accounting Standards, including Financia Floporting Standard 102 The Financial Reporting Standard applicabl8 in the UK and Republic of Ireland IUn(ted Kingdom Generally Accepted Accounting Practicel. In cur opinion the finanoal statements.. give a true and fair view ol the slate of the charitable company's affars as al 31 August 2025 ar￿ of its incom8 and expenditure, for the year then ended., have been properly prepared in accordance Mqlh United Kingdom Generdly Accepted Accounting Practice., have been prepared in accordance with the requir8m8nts ol the Companies Act 2006. Basis for opinion We conducted our audtt in aCcOrda￿e with Intematinal Standard8 on Audtting IUkQ IISAS (UK)) and applicable law. Our responsibilities under those standards arè further described in the Auditor's responsibilili8s for th8 audit of the financiJ statements section of our reporl. Vve are independent of the charitable company in accordan with the ethical requirements that are relevant lo our a￿lt ol the financial statements in the UK, including the FRC'S Ethical Standard. and we have fuffilled our other ethical responsibilities in accordance wlh these requirements. We believe that the audit eviden¢e we have obtained is sufficient and appropriate lo prowde a basis lor our opinion. Conclusions relating to going concern In auditing the financial slalements, we have concluded that the trustee's use of the going concem basis ol accounting in Ihe preparation of Ihe financial statements is appropriate. Based on the work we have P8rformed, we hav8 not identified any materia uncertainties relatiro lo events or conditions that, indriidualty or collectively, may cast significant doubt on the charilatAe company's abil((y to continue as a gang concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities ar￿ the responsibilities ol the Iruslees M4th respect to going concem a￿ described in the relevant sections of this repcyt. Other infomiation Th8 Iruslees are responsible lor the other information contained within the annual report. The othor informatK)n comprises the informalK)n included in the annud report, other than the financia statements ar￿ our auditor's rerxxt thereon. Our opinion on the financial statements does not cover the Oth￿ information and, excèpt to the extent othetwise explicitly stated in our report. we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is mat8rially inconsistent with the linanciJ statements CY our know4edge obtained in the audit or othenNiSÈ app￿8 lo be materially misstaled.11 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 IkEmselves. If. based on the work we have performed, we conclude that there is a materid misstatement ol this other information, we are required to report that fact. We have nothing lo rekKYt in this regard. 24

THE ROYAL GRAMMAR SCHOOL WORCESTER INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS Opinions on other matters prescribed by the Companies Act 2006 In our opinion based on the work undertaken during our 8udrt the information given in the Governors, report, which includes the dir&lors' report and the strategic report prepar8d for the purposes of company law, lor the financial year for which the financi statements are prepared is consisl&nt with the financial slatemenls., and the strategic report and Ihe Govemors, report included within Ihe trustees. rewrt have been prepared in accordance with applicable legal requirements. Matters on which we are required lo report by exception In light of the knowledge and understanding ol the charitable company and their environment obtained in the course of the audit, we have not identsfied material misstatements in the strategic report or the directors, report iwluded w(thin the Govemors. report. We have nothing lo report in respect of the Idlowing matters in relation to which Companies Act 2006 requires us to report to you if. in our opinion.. adequate and proper accounting records have not been kept,. or the financid statem8nls are not in agreement with the accounting records and retums., or certain disclosures of trustees. remuneration specifi by law are not made., or we have not received the information and explanations we require lor our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statemènt, th8 trustees (who are also the directors of the charitable company for the purposes of company lawl are resp￿sIble lor th8 preparaliiM ol the financial statements and for being satisfied that they give a true and fair kiew, and lor such inlernd conlrd as the trustees determin8 is necessary to enable the preparation ol financial statements that are free from material misstalement, whether due to fraud or ￿rOr. In preparing the financial statements, the trusts ar8 responsible lor assessing the charitable company's abilty to continue as a going concern, disclosing, as applicable. matters related lo going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charrtable company or lo ￿ase operations, or have no reJisti¢ alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the finarn¢ia1 stat￿nentS aro fr@e from matori misslalement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Fleasonable assuran￿ is a high level ol assurance but is not a guar8ntee that an audit Conduct￿ in accordance with ISAS IUIQ wll always detect a material misstalemenl when it exists. Misstatements can arise from fraud or error and aro Consider￿ material il, individualty or in the aggregate. they could rttasonably be expected to inllLJence the economic decisions ol users taken based on these finan¢iJ statements. Details ol the extènt lo which Ihe audit was considered capable of det&ting irregularities, including fraud and non-compliance with laws and regulation8 are sel out below. A further description ol our responsibilities for the audit ol the financial statements is located on the Financi8J Reporting Council's website at.. www.lrc.or ,LJk/a itorsres . This description forms part ol (xjr auditor's rewrt. t to which the audit was considered c8pabl8 of detecting irregularities, including fraud Irr￿ularItIes, including fraud, are instances of non-compliance with laws and ￿gUlations. We Identifi￿ and assessed the risks ol material misstatement ol the financial statements from irregularities, whether due to traud or error. and discussed these between our audit team members. We then designed and performed audit PflX8dures responswe to those risks, including obtaining audrt ebidents sufficient and appropriate to provide a basis for our qinion. 25

THE ROYAL GRAMMAR SCHOOL WORCESTER INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS

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, 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.

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 and bursaries, scholarships and allowances. Our audit procedures to respond to these risks included enquiries of management, and the Finance & General Purposes Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, designing audit procedures over bursaries, scholarships and allowances, 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 non-compliance 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 non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the 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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Tara Westcott Partner For and on behalf of Crowe U.K. LLP 4th Floor St James House St James' Square Cheltenham GL50 3PR Date: 27 May 2026

26

THE ROYAL GRAMMAR SCHOOL WORCESTER STATEMENT OF FINANCIAL ACTNITIES FOR YEAR ENDED 31 AUGUST 2(Y25 linclwling the Income & ￿￿￿rtUre account) Note UnrestriGted Restricted Funds Funds Endowed Funds 2024 TolJ £000 Total INCOMING RESOURCES Income from Charitable Aclmt School fees Other educationd actNities Other ancillary aclimties Income trom other Trading aclivit18S Investment incon Voluntary irccffte 22.835 21 1,232 198 156 429 1,270 244 401 1,270 244 402 TotJ IncomiThJ Rascuc&s *347 24,871 EXPENDITURE ON: R8ising Funds Fundraising Costs Chantable ktiwties.. SC￿￿ 160 150 181 24,889 322 25,211 24,319 TotJ Ex￿drture 322 25,361 24.5(X) NET INCOMING FUNDS FROM OPERATIONS BEFORE TRANSFERS 821 165 371 Investm￿1 gang(k)ssesl 1101 1101 22 NEf MOVEMEpif IN FUNDS 165 (10) 976 Fund bJanc8s at 1 September 25,393 25.474 Fund b￿a￿oS at 31 August 26,214 25,867 AJI Iwerati¢MS are c￿t1￿1r￿j. The not6s ￿ pa￿ 31 to 47 fcm part of these final￿ staterTWts 27

THE ROYAL GRAMMAR SCHOOL WORCESTER STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 AUGUST (PRIOR YEAR) (Including the Inccjme & Expenditure account) Note Unrestricted Restricted Funds Funds £O(M) Endowed Funds 2024 Total 2023 Total £000 INCOMING RESOURCES Income from Charitable Activities School lee8 Other educational activities Other ancillary activities Income trom other TradiTrJ activities Investment income Voluntary income 22.835 21 1,222 20.584 21 1.092 338 92 220 21 1,232 155 156 429 Total Incoming Resources 24,441 24,871 22,347 EXPENDITURE ON: Raising Funds Fundraising Costs Charitable Activities.. School 181 214 24,016 24,319 21,610 Totd &Ypendilure 24,197 24,51XI 21,824 NEf INCOMING FUNDS FROM OPERATIONS BEFORE TRANSFERS 127 371 523 Inveslmenl gains/llossesl 151 NEf MOVEMENT IN FUNDS 244 127 393 518 Fund L>alances al 1 Septembor 25,149 272 25.474 24,956 Fund balances al 31 August 25,393 26,867 25,474 All 0￿ratIonS ase continuiro. The notes on pages 31 to 47 form part of these financi￿ statements 28

THE ROYAL GRAMMAR SCHOOL WORCESTER BALANCE SHEET AT 31 AUGUST COMPANY NUMBER 6251081 Note 2025 £000 2025 2024 £000 2024 £000 FIXED ASSETS Intangible Assets lor Operational Use Tangible Assets for OperationJ Use Investments- COIF Investments in Subsidiary 5b. 6a&b. 21.561 21,577 294 21.846 21,872 CURRENT ASSETS Debtors Stock Cash al bank and in hand Short term dewstts 7a. 3,883 25 6,164 5,050 7b. 7b. 2,308 13,140 15,848} 15,122 17,6411 CREDITORS: Due within one year 8a. NET CURRENT ASs￿s 7,481 TOTAL ASSEfs less NEf CURRENT UABILITIES 29,138 29.353 CREDITORS: Due aftor more than one year Pension deficit funding liability Fees re￿iVed in advance 12c. 8b. 1521 12.2431 1931 13,3931 12,295) 13,4861 TOTAL NET ASSETS 25,867 Endowed Funds Aestricled Funds Unrestricted Funds 294 180 25,393 345 26.214 26.843 25,867 Approved and authorised for issue by the Board ol Govemors, and s￿￿ed on its behalf by'.- Mr And￿W Greenway Chair of Governors 22 May 2026 The notes on pages 31 to 47 form part of these financial statements 29

THE ROYAL GRAMMAR SCHOOL WORCESTER CASH FLOW STATEMENT FOR YEAR ENDED 31 AUGUST 2025 2025 2024 £O(K> 2024 £0 Cash flows from operating activities Net cash labsorbedl/provided by operating actr￿ttle5 Cash flows from investing adivities Dr￿dendS at)d interest from investments Proceeds from the sale of fixed assets {592) 6,384 156 Purchase of tangible fixed assets Pre-registration VAT 11,4941 277 11,2151 Nel cash used in investing actI￿1t1es 1814) 11,0561 CharvJe in cash and cash equivalents in the reporting period {1,4( 5.328 Total cash and non-cash movements Cash and cash equivalents al thè start of the year {1,406) 11,214 5,328 5,886 Cash and cash equivalents at the end of the reporting pericKI 9,808 11.214 A. Reconclllatlon of cash flows from the operating aclivities Net income for the year Depreciation and amortisalion charges Dr￿idendS from investments Ilncreasevdecrease in stwk Decreas￿1]ne￿aseI in debtors IDecreasel/lncreas8 in creditors Decrease in pension deficit funding Losses/{g￿n$) on Investrnents 976 393 1,291 11561 1402) (3) 579 12101 5,164 1791 1221 {3,CQ3) 1341 10 1592) 6,384 Analysis ol cash and cash equivalent$ Cash in hand Short term deposits 2,308 7,5 6,164 5,050 9,808 11,214 The notes on page8 31 to 47 fom part of these financid statements 30

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES ON ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 202S Legal Status. The Company Is registered at Companies House, Cardiff. as a prwale company, limrted by guarantee. registered number 6251081. The Company is also registered as a charity, number 1120644. Th8 Company is the trustee of Charity 527527 which holds in trust th8 Permanent Endowments ol the School und8r a Charity Commission Scheme sealed on 2 July 2007 and altered by a further scheme sealed on 15 JanLiary 2008. The Sch8me conl&ns a Uniting Direction that the Charity and associated funds shall be treated as forming part ol the Company lor the purposes of Part 6 laccounlingl of the Charities Act 2011. On 30 Apri5 2019 RGS cl￿derh111 Sch(yJ, company number I￿76888 and registered charity number 527599. donated all ol ils assets and liabilities to The ROYJ Grammar School Worcesler. RGS Holdings Limited Company nUM￿r 12364724 was incorporated in DeTrmber 2019 to facilitate the establishment and opèration of Worcester International Hwkey Club ￿rnited, a limited liability company, nLJmber 1236e602 which was aso incorporated in Decembèr 2019. The objects of the Sch(d are the provision 8nd conduct. in or near the City of Wor￿Ster, ol a day or day and boarding sch¢xA for boys and girls. Accounting Policies. The follomqng accounting policies have used con8iStenlly in dealing wth rtems which are considered material in relation lo the School financial slalernents. Basis of Preparation. The financiai statements have been prepared under the historica cost convention with items rec(unised al cost or transaction value unless otherwise stated in the relevant notes lo these accounts. The financiJ statements have been prepared in accordance with AcC￿ntir￿ and Reporting by Charities.. Slal8ment ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financi Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffeclive 1 January 20191- (Chartties SORP IFRS 1021, and the Companies Act 2(￿￿. The Roya Grammar School Worcester constttules a pukjic benefit entty as defined by FRS 102. Going ConGern. Tha financial slat8ments are prepared on a going concern basis. The Governors have prepared budgets and forecasts that take into account th8 impact ol VAT on school fees, the loss ol charitable business rate relief and having reviewed tre funding facility available to the School logether with the expected ongoing demand lor places and the Schod's future yoiected cashflows. the Govemors have a reasona1￿8 expectation that Ih8y have adequate resources to continue its activities for the fooseeable future and consider tral there are no material uncertainties over the School's financial viability. In assessing the going concern, the Govemors have beer) closely moniloring the finances and cashflow position ol the School. With this in depth planning and financi resources avalable to the Scho￿. the Governors believe they can continue as a going con￿rn for the foreseeable future. Accounting Convention. The accounts are prepar￿ under the historicJ cost convention, as modified by the revaluation of investment assets. Fees receivab18 and charges for setvices are accounted lor in the period in which the senlice is prc>vided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted ty the School. Freehold Buildings. Cost shown in the Balance Sheet reprèsents only expenditure incurred after the Scho became independent on 1 September l 983. The following, which are vested in the Official Custodian lor Charities, as Scheduled in the 2m8 Schem8 for Charity 527527, are included at nil cost in the accounts.. Th8 Freehold ol the Schwl sile and buiLdings, Whiteladies. Priory House and gardens, and Flagge Meadow. Capitalisation and Depreciation. Purchases of assets costing more than £1.Offl and with a usolul lif8 of more than one year are capilalised at cost. Depreciation is provided on all tangible and intangible fixed assets. other than freehold land, a straight line basis al rates cJculated lo write off the cost ol each asset over its expect￿1 useful economic life as follows.. Freehold buildings Motor vehicles and computers Fixtures, fittings and equipment Intangible assets Land 50 years 5 years 8 years 5 years not depreciated 31

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES ON ACCOUNTING POLICIES FOR YEAR ENDED 31 AUGUST 2025 Investments. Investments are included at valuation al the Balance Sheet date. Reaised and un￿alISed gains and losses on investments are shown on the Slalement ol Financial Actilfjties. Investment and Other Income. This is accounted for on a rec&vable basis. Donations Receivable. Donations are recognised on a receivable basis (where there are no perfomiance related conditionsl where the re￿pt is probable and the amount can be reliably measured. Net Tuition Fees Receivable. Fees recewable are accounted for in the period in which ltrÈ service is provid￿1. They are stated after deducting bursaries, scholarships and other remissions granted by the School. Resources Expended. Resour￿$ expended are accounted f(y on an accrual basis. Certain exper￿lture is apportioned lo cost categories based on the estimated arnount attribLrtable to that activty in the year. Irrecoverable VAT is included with the item ol expense to which it relates. Support costs are those costs incurred in the generai running of the School. Th8se are allocated between actiwlies on a basis consistent the use of the resources. Governan￿ costs comprise the costs ol running the charity including extemal audi( costs. Pension Schemes. The Schod c￿tributeS lo the Teachers. Pension Scheme la defirn￿ bemfit S(*emèl at rates set up by tho Scheme Actuary and advised lo the Govemors by the Scheme Administrator. For non-teachiry staff, the School contributes to The Pensions Trust FRP defined contribution scheme. The School Jso makes pension AVC contributions at a rate of 2% to the Ponsion Trust Gr()￿h Plan Scheme for 212024.. 21 members of staff who were previously members of the CARE 80 defined benefit scheme. Unrestrlctsd General Fund& Th8s8 funds can be exp8nd8d al the Govemors, discretion in ￿Cordar1ce with the Charitable Objects. They represent funds which have not been 'earmarked" or"re8tricted" in any way. Designated Funds. TkEse funds rep￿sent funds which have been ring-fenced by the Governors fix a specific purpose. Restricted Funds. Th&s8 Include funds received from alumni and others wtth specific conditicY)s for Ihqr us8. Endowed Funds. Thère ao two Endowed Funds, The Mytton and Blasson Prize Fund and The Permanont Endownienl. both held by Charity 527527 and invested in Charity Only Investment Funds. Taxation. As a register￿ charity, the School is not generally liable to corporation tax on surpluses. For this reason. no Fyovision for corporation tax has been induded in the accounts. Liquid Resources. Fixed term deposits of less than one year are included in the Cashflow Statement as liquid resources. Deblors. Short term d8btors are measured at the transaction price, less any imparment. 32

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES ON ACCOUNTING POLICIES FOR YEAR ENDED 31 AUGUST 2025 Liabilities and provisions. ￿abilItieS are recognised when there is an obligation al Ihe Balanc8 shael date as a result ol a past event, il is probable that a Iransler ol e¢￿0￿￿ benefit will be required in settlement, and the amount of thè settlemgit can be eslimaled reliably. ￿'abilitIeS are recogrnised at the amount that the Schoc anticipates it wi51 pay lo settle the debt or the amount it has received as advanced payments for the gwds or semces it musl provide. Flnancial instruments. The charity only enters into basic financial instrument tran8aclions that result in th8 reccunition ol financia assels and liabilities like trade and other accounts r￿e1Vable and payable. Intsngible assets. Software costs are initidly recognised at cost. After recognition. under the cost model, intangible assets are rneasured at cosl less any accumulated amortisation and any accumulated impairment losses. Al inlangible assets are considered to have a finrte useful life. If a reliable estimate DI the usefvl life cannot be made, the useful life shall not exc88d tan years. Amortisalion of software and website development cost8- 5 years. Critical accounting estimates and areas of judgement. The Schwl makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk ol causing a materia adjustment to the Car￿r@ amounts ol assets and liabilities within the next finanaal year are discussed below.. lil Pension dofici( contribution. The Schoo5 has ￿tered a commitment to pro%4de defic(É funding to The Pensions, Trust Care Scheme and The Pensions, Trust Growth Plan. of which it is a cwtributing ttmployer. Under FRS 102, the lair valuè of the commitment is recognised. The calculation of the fair valw ol the commrftment is subject lo an assumption ol the discount rate. The discount rate Is detemined by reference to market yelds at the reporting date on high quality corporate bonds. lill Recognition of legacies. The School recognises legaaes when the economic benefit to the SchixA is sidered probable. Legacies can relat8 lo cash or assets. Both require estimation il the legacy has not yet been received. The estimation of legacy incomè is based on information received trom solicrtors and a prudent approach is taken based on the information provided.

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 1. SCHOOL FEES 2025 £000 2024 Gross Turtion Fees Pupil Lunches Other Fees 25,883 411 939 24,679 416 719 Gross Fee Income Less.. Scholarships, Bursaries and other Remissions 27,233 13,311) 25,814 12,9791 Net Fees 23,922 22,835 2025 £000 2024 £ocKI 2. OTHER INCOME Other educational charitable activities Registration Fees 21 Other ancillary activities RGS Transport School Trips 88by and Toddler Grwps 132 1,129 116 1,111 1,270 1,232 Income from other Trading activities Counselling recovery Lellings S&e of Fixed Assets ScAar F Miscellaneous 41 74 47 73 119 69 244 Investment Income Bank interest Permanent Endowmerrt Income Mytion a￿1 &asson interest 394 148 156 Voluntary Income Donations Grants from the RGSW & AOS Fouridation Legacies 171 315 220 209 429

THE ROYAL GRAMMAR SCHOOL WORCEsfER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 RESOURCES EXPENDED Staff Costs £000 Othèr Depreciation & Amortisation 2025 Total £000 2024 Total £000 Costs ol g8nerating voluntary income 113 31 Charitablè Activities Teaching Costs Welfare Premises Support Costs ol Schooling Marketing and Advertising 13.435 703 1,037 1,563 417 770 1,033 394 14.599 1,764 3,509 14,187 1,570 3,411 4,501 650 37 281 704 17,155 6.753 1.303 25,211 24.319 Total Resources Expended 17,268 6,784 1.309 25,361 24,500 Staff Costs 2025 £wo 2024 £000 Wages & Sdarie8 Social Security Costs Pension Contributions Tr&ning & Expenses Other Costs 12,979 1,401 2,426 12,461 1,200 2,357 427 437 17,268 16,498 The average numtsrs ol full time equivalent employees in the year were.. Teachers Others 2025 158 167 2024 321 The total headcount was ￿0(2024.. 4221 The number ol employees whose emoluments exceeded £60.CK)O were.. £60,(KI1- £70,000 £70,(K)1 - £80,OCX) £80,001- £90.000 £90,001 - £1 CM),000 £100,001 - £110,000 £170,001- £180,000 £180.001 £190,000 £190,001- &00.000 2025 2024 11 12 21 21 35

THE ROYAL GRAMMAFI SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 RESOURCES EXPENDED Icontinuodl 2025 £000 2024 £000 Remuneration ol key personnel including Em Joyer's National Insurance arKJ Employer's pension contributions Iccfisidered to be the Govemors and incipd Officers) 793 734 ring the year there wore redundancy or termination payments totalling £77.24812024.. £8,348). For the 20 employees12024..211 with emoluments greater than E60,(X)0, 1112024.. 141 were rn8Tnb8rs of the defined benefft schemes with associated employer contribLrtions of £263,85012024.. E282,0601 Other than those transactions disclosed in Note 14. rEither the Governors nor persons connectc(I wrf(h them recerie any remuneration or Oth￿ benefits from School or any connected organisalion for their senices. Trustee indemnity insurants ig included in the Schcol's insurance cover at no additional cost. The Governance costs for 2025 are £33.35112024.. £26,567). AUDITOR'S REMUNERATION 2025 2024 Audttor's remuneration for audit setvices 20 5a. INTANGIBLE ASSETS Software lincluding websits development) £0( Cost At 1 September 2024 Additions At 31 August 2025 Depreciation Al 1 September 2024 Charge for year 334 At 31 August 2025 334 Net Book Amount Al 31 August 2025 At 1 September 2024 36

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 TANGIBLE FIXED ASSETS Freehold Freehold Land Buildings Fixtures Grounds Assets Under Fittings & Equipment Construction Equipment & Motor Vehicles Tolal Cost Al 1 September 2024 Additions Disposas £000 8,389 854 {311 £0 38.836 1.494 11031 29,236 715 352 (721 At 31 ALNJUSt 2025 29,324 9,212 995 40,227 Depreciation At 1 September 2024 Charge for year DIs￿saIS 10,299 6,557 659 {29} 17.401 1.365 11001 120 1711 Al 31 August 2025 10.885 7,187 18,666 Net Book Amount At 31 August 2025 At 1 Seplember 2024 496 496 18.439 18,937 1025 1.832 401 170 21,561 21,435 The freehold buildings had a declared vaue for insurance purposes of £94m as of 31 August 2025. Septetnber 2024 figures have been restated allowng for the pr8-registration VAT r8clwms. 37

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 FIXED Ass￿ INVESTMENTS (UK Listcd) THE PERMANENT ENDOWMENT FUND 2025 £000 2024 Opening market vJue Nel Ooss8sVgins on rcvduation 259 19) 239 20 Closing market V￿￿e at 31 August 250 259 Historic cost at 31 August 150 150 The abovo represents the Permanent Endowment for the School Charity 527527 scheduled in the 2m7 Scheme. Th8 investments currently comprise COIF Income Units only. eb. ENDOWED FUNDS Prlze Fund 21)25 2024 Opening market value Net Ilossesllgans on revJuation 33 Closing market v￿ue at 31 August 35 Historic cost at 31 August 20 The above reprèsents the total ol the investments of the legacies to provide for the Mytton and Blasson Prizes. The investments currently comprise COIF Incomè Units only. These investments are included in School Charity 527527 scheduled in the 2007 Scheme. FIXED ASSET INVESTMENTS IUnlist8dl 2025 £000 2024 RGSW Holdings ￿mIt9￿{lIx)% dormanll 38

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 78. DEBTORS 2024 £000 Tuition fees and extras Sundry debtors Amounts due from joint venture Prepayments and work in progress 649 65 2,424 745 11(M) 673 3,883 7b. OTHER CURRENT ASSETS 2025 2024 £000 Cash at Bank and in Hand Short Term Depositg 2,308 7,5ts) 6,164 5,050 11.214 CREDITORS: Due within one year 2025 2024 Fees received in advance Registration Depogts Trade Creditors Socia Securty & Other Taxes Pension deficit funding liability Inote 12cl Other Creditors Deferred Income 3,023 153 913 914 77 258 356 5,048 155 948 297 71 333 523 Accruals 154 266 7,641 Included in Other Creditors a￿ amounts owing to the Teachers, Pension Scheme of £209,84912024.' E234,7231, The Pension Trust ol £012024.. £9,093) and Aviva £12,29412024.. £58,965) 39

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 8b. CREDITORS.. Due after more than one year (excluding pension liability) Accrued liabilities in respect of fees ￿¢eNed in advance.. 2025 2024 £wo

5 years Within 2 to 5 years W¢thin 1 to 2 years 328 1.497 1.568 1,020 1,023 2,243 3,023 3,393 5,048 Within 1 year Balance at 31 Mjgust 8,441 The movements during the year were: Balance al 1 Septemb8r Nel cash movement 8,441 52 4,125 8,611 8.493 {3.22n 12,736 14,2951 Amounts utilised in fee payment 8alance at 31 August 8,441 40

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACGOUNTS FOR YEAR ENDED 31 AUGUST 2025 RESERVES Balance at 1 Septsmber 2024 tOOO3 Irwming Resource £OOOs Resources Expended £OOOs Investment Gains EOOOS Balance at 31 August 2025 Endowment Funds Th8 Permanent Endowment Fund Prize Funds 19) {11 (101 RestriGted Funds umni Bursary ALJmni suppcrt Gardèning Club Claines Physics Prize Tennis Sponsorship RGSW & AOS Foundation Hardship Fund RGS PTA Land Rover The Warèing Cup The James Kimberfey Prize AO Archives CCF RGS PTA Photography AOES RGS Sports Tour P8rrins Loggia Springfield Roundhouse Mytrton & Blasson 316 {316} 24 {31 21 125 124 150 17 150 17 (3221 Unrestricted Fund$ General ReSer￿S 25,393 25.860 125,0391 26,214 41

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 RESERVES Icontinuodl Balance at 1 Septembèr 2024 Incoming R•sourc8s Resources Expend Investment Galns Balance at 31 August 2025 Summary of Funds Endovlment Funds FleStr￿1￿ Funds Unrestrict￿1 Funds 1101 22) 125P39) 345 28.214 25.393 25060 25,867 26,347 12SO81) 110} 28,843 Endowment Funds: The Endowment Funds represent the invested wdowments ol the School. The Permanent Endowrnwl is listed in the Scheme lor Charity 527527 of which the Company is the Trustee. plus the Mytton and Blasson PrriÈ Fund. The Restricted Funds include monies from alumni for specific projecls, including funds rec￿Ved for Bursary support. Restricted Funds: Aumni Bursary umni support Gardening Club aaines Physics Prize Tennis Scholarship RGSW & AOS Foundation Hardship Fund FIGS PTA Land Rover The Wareing Cup The James lfjmberley Prize AO Archives CCF RGS PTA Photography AOES RGS Sports Tour P￿rinS Loggkq Springfidd Rc>undhouse Mytton & Blas80n 42

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 RESERVES {PRIOR YEAR) Balance at 1 Incoming September 2023 Re80urcè £OOOs ReSoU￿e8 Expended £OCQs Investment G8ins £OOOs Balance at 31 August 2024 £OOOs Endowment Funds The Permanenl Endowfnent Fund Pn'ze Funds 239 259 33 35 272 294 RestiiGted Funds Aumni Bursary Aumni support Gardening Club Claines Physics Prize Tennis Sponsorship RGSW & AOS Foundation Hardship Fund RGS WtA Land Rover The Wareing Cup The James KIM￿￿￿eY ￿1ze AO Archives CCF RGS PTA Photography AOES RGS Sporks Tour 24 24 207 82 125 180 Unrestricted Funds General ReseNes 25,149 24,441 24,197 25,393 43

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 RESERVES (PRIOR YEAR) {continuodl Balance at 1 September 2023 Incomlng Resourcès Resources Expanded Investment Galns Balance at 31 August 2024 Summary of Funds EndO￿Tr￿t Funds Restr￿1￿ Funds Unrtsthcted Funds 272 294 180 25,393 25,149 24.441 24.197 25,474 24.868 24.500 25067 Endowment Funds: Tr& Endowment Funds represent the invested endowments of the School. The Permanent Endo￿llent is listed in the Schem8 lor Charity 527527 of which the Company is the Trustee, plus the Wlon & Blasson Prize Fund. The Restricted Funds include monies from alumni I(￿ specific projects. including furds reTrived for Bursary support. Restricted Funds: Alumni Bursary - Aumni bursary supwrt SME Debating Club Swnsorship Drawngs/Piclures Deposits donatèd for the commissioning ol p￿tUr&S of the RGS buildings umni support- Alumni support for Foundation Gardening Club- Donation arKi prize money lor tho G8rdening club Wlon and Blasson - Annual pupil prizes Cl&nes Physics Prize - Annual Physics award Rugby- Auction proceeds Ftugby equipment Tennis Sponsorship - LTA sponsorship RGSW & AOS Foundation- Bursaries Hardship Fund RGS PTA Land Rover- support for DT project The Wareing Cup The Jamès lfjmberley Prize AO Archives CCF RGS PTA Photography 44

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 10. ANALYSIS OF NET ASSETS BEfwEEN FUNDS Tangible Fixed Assets £000 Intangible Flxed Assets £000 lrnièstments Net cuThent Assets Long temi Liabilitiès £000 2025 Total tooo EOOO The Net Assets are Funded as follows: Unrestricted Fund$ FÈstr¢tfé Funds End0wm￿t Funds 21.￿1 947 12,2951 26.214 284 21.561 285 ,2951 26,843 10. ANALYSIS OF NET ASSETS BEfwEEN FUNDS {PRIOR YEAR) Tangibla Intanglble Fixed Inv¢$tmènts Flxed Assets Assgts N•t current Assets Long tem Liabiltties 2024 Totsl £￿0 The Net Assets are Funded as follows: Unrestricted Funds Restrded Funds End0￿￿nent Funds 21,577 7J01 180 {3,486) 21,577 7.481 (3,4861 25,867 11. CAPITAL COMMITMENTS Capital expenditure of £nil12024.. £niD has been authorised and contracted lor as at 31 August 2025. 12. PENSIONS 12a. Teaching Slaff PENSION SCHEME The School participates in the Teachers, Pension Scheme I'lhe TPS'I for its teaching staff. The pension charge lor the year includes contributions payable by the School to the TPS 01 £1,822.48412024'. £1.867,8701 and al the year-8nd £209,84912024= £233.7161 was accrued in respect of contributions to this scheme. The TPS is an unfunded multi-ernployer defined benefits pension scheme govemed by The Teachers. Pensions Regulations 2010 las amendedl and The Teachers, Pension Scheme Regulations 2014 las amernd￿). Members contribute on a °pay as you go" basis with contributions from members and Ik employer being credited lo the Exchequer. Retirement and other penson benefits are paid by public funds provided by Parliament.

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 The employer contribution rate is set by the Secretary of State following scherne valuations undertaken by the Government Actuary's Deparlment. The most recent actuarial valuation ol the TPS was prepared as al 31 March 2020 and the Valuation Report was published in October 2023. The Vaualion Report shows notiona assets of ￿222.2￿ and liabilities of £262bn ￿$VItIng in a scheme deficit 01 £39.8bn. The employer contribution rale l(Y the TPS is 28.6¥0, and employers are also required to pay a scheme administration le￿ ol 0.08% gNing a told employer contribution rale 0128,68%. 12b. Support Staff The Pensions Trust: The pension cost charge atnounting to £106,45412024.. £303.6611 represents the full c￿tributIon payable for the period by the School to The Pensions Trust for all pensions provid8d. Al the year-end £012024.. £9,093) was accrued in respect of contributions lo Ihese sC￿mes. Aviva.. The pension cost charge amounting lo £782,60212024.. £252,124) ￿preSentS the full contribution payable for the period by the School lo AWVA. Al the year-end £12,29412024.. £58,9651 was accrued in respect of contribut￿$ to these schemes. Both the CARE 80 and the CAfiE 100 Defi'ned Benefft SCh￿e8 and the Growth Plan are multi-employer schemes and the schemes, actuary has advised that the assets and liabilities are not Segregat￿ lor each contributing 8mployer. Henc8 it is not possibl8 lo separately id8nlify the assets and liabilities relating to The Floyd Grammar School Worcester for the purposes ol FRS102. See also Nole 15. CARE Defined Benefit Scheme: RGS has beeri notified by The Pensions Trust. of the estimated employer debt on withdrawal from The CARE Scheme, bas￿ on the financid position of the Sch8me as at 30 September 2024. At this date the estimated employer debt lor RGS was £637,13912024'. £636,e811. 11 was agreed that from 1 April 2012, addttional annual contributions towards the Scheme's deliol would be payable by The Royal Grammar Schod Worcester. This plan was superseded by a rewsed deficit repayment plan commencing 1 July 2015 covering the period lo 30 April 2027. There have since been rnultiple iterations ol this repayment KAan and for the year end* 31 August 2024 the total of deficit payments paid was £55,40512024.. £65,873) Growlh Plan: RGS have been notified byThe Pensions Trust ofthe eslirnaled employer debt on wlhdrawal from the Growth Plan based on the financial wsition ol the Sch2me as al 30 September 2024, At this dat8 the estimated empbyer debt for RGS was £140,17012024.' £131.9931. Deficit Contributions have been required since April 2016 and will be payable by The Royal Grammar School Worcester lor a peri1￿ ol ten years. For the year August 2025 the totd of deficit paymwts pad was £49,53612024.. £37,810). 46

THE ROYAL GRAMMAR SCHOOL WORCESTER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025 12c. FRS {102) Sedion 28 Pension Dèficit Provisions 2025 2024 £000 CARE Scheme Growth Flan 11JO 157 Of the total deficit of £129.￿1 an arnixjnl of £76,784 is du8 within one year 129 164 13. FINANCIAL INSTRUMENTS 2025 £000 2024 FinanciJ assets measur￿1 at far vaue through Ihe Income and Expenditure account 294 Financial liabilities measured at f￿r value through the Income and Expenditure account 164 Financial liabilities mÈasur8d at lar valu8 through the Income and Expendture account comprise the defIn￿j kknefit pension scheme deficrfi funding liability. 14. RELATED PARTIES The RGSW and AOS Foundation made grants lo the Sch(K>l in the year toldling £315,54212024.. E208,5061. The School Governors inclLJde two parents of the School and one grandparent. In addition, 11 members ol key managernent personnel are also parents. During the year they were all charged sehwl lees on commercial terms agreed at am's length. and no balances were outstanding al the end of the year. Spouses ol one Govemor and four members ol key rn￿agement personnel are employed by School on commercial terms agroed at arm's length. RGS Worcester and Worcester Hockey CILJb have established a joint venture, Worcester International Hockey m((8d, which was incorporated in December 2019. RGS Worcester and Worcester Hockey Club each own 50% 01 the voting share capital. Worcester Internation￿ Hockey ￿mited'S indebtedness to RGS Worcester al 31 August 2025 was £2,739,22612024.. £2.724.2661. Of this, £2,100,000 was rep￿d on 4 September 2025 by Worcester International Hockey ￿rnited. The investment in Worcester International H￿keY knmtted is via a wholly owned subsidiary, RGSW Hddings miled. 15. POST BALANCE SHEET DISCLOSURE As part ol the Board's approach lo risk management and long-lerm financial planning, a decision has been taken lo will￿ra￿ from the SchcKA's two legacy defined benefit pension schemes.. the Pension Trust Growth Plan and the Pension Trust CARE 80 Scheme. The necessary actions will be progressed wlh the support of the School's professionJ advisers. As the transactions had not been finalised al thè balance sheet date, no provision has been made within these financial statements. The ass(Kiated financial impact will instead be recffjnised VAthin the 2025126 financial statements. The 8oard has been advised that the estimated cost ol withdrawng from both schemes is likely to be in the region of £800,000, excluding prol8ssiond lee8. 47