2023-08-31-accounts

Registered number: 08502615 Charity number: 1152244 THE BLUE COAT SCHOOL BIRMINGHAM LIMITED (A company limited by guarantee) GOVERNORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) CONTENTS Page Reference and administrative details of the Companyj its Governors and advisers Governors. report Independent audttor's report on the finan¢ial statements Statement of financial activltles 3-11 12-15 16-17 Balance sheet 18 Statement of cash flows 19 Notes to the financlal statements 20-50

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A Company Ilmited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023 Governors Mrs K Gilmore DPSN RGN HV, Chairl Mr M H Dyke BA, Vice Chair1 Revd J Allcock BA, Rector of Martin in the Bullring2 Mrs E Andrews BA PGCE lappoinled 16 May 202313 Dr Sarbjit Bahia MBBS MRCP MRCGP DRCOG Dip Occ Med Bsc lappoinled 18 October 20231 Rev C Butler (appointed 22 March 202312 Mr W G S Hordern MBE MA DipTh JP Reb M Kitto BEd (Honsl MEd PGDip Hon Fellow NSEAD Mrs E Lawson-Bennett LLB Msc Mr A Milner BSC (Honsl Chartered Fellow CISII Prof P Narendran MBBS PhD MRCS FRCP Mr S Page ACAI Mrs A K Poole BAI,4 Mr S M Raine FCA BSocSci1 Mr A J Roddick FRICS Iresigned 18 October 202311 Mr B H Singleton LLBI.5 The Very Revd M Thompson MA MPhil, Dean of Birmingham2 1 Finance & Estates Committee (together with the Headmaster, Bursar and Finance Manager) Ex Officio Designated Safeguarding Governor Governor for SEND Governors, Representative to The Friends of The Blue Coal School Company reglstered number 08502615 Charity registered number 1152244 Registered office Somerset Road Edgbaslon Birmingham 817 OHR Senior management team Mr N G Neeson BEd NPQH, Headmaster Mr G W Morgan, Bursar & Cleik to the Governors Mr R J Newman BA PGCE, Second Master and Head of Prep Mrs H R West BA PGCE NPHQ, Head Pre-Prep Mrs A Franklin BA, Director of Marketing & Admissions Independent audltor Crowe U.K. LLP Black Country House Rounds Green Road Oldbury Wesl Midlands B69 2DG Page 1

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company limlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS AND ADVISERS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 Bankels Barclays Bank PIC 15 Colmore Row Bimiingham B3 2BH Solicitors Veale Wasbrough Vizards 3 Brindley Place Brindley Drive Bimiingham B1 2JB Investm¢nt managers CCLA Senator House 85 Queen Victoria Street London EC4V 4ET Page 2

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A ¢ompany limited by guarantee} GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Govemors present their annual report together with the audited financial statements of the Group and the School for the year ended 31 August 2023. The Governors confirm that the Annual Report and financial slalemenls of the company comply with the current slalutory requirements, the requirements of the company's governing document and the provisions of the Slalemenl of Recommended Practice ISORPI, applicable to charities preparing their aceounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151 as amended by Update Bulletin 1 leffeclive 1 January 20151 The Charity is a charitable company limited by guar8nlee. It was incorporated on 24 April 2013 and registered as a charity on 31 May 2013. Its Memorandum of Association, which established its objects and powers, provided that in the event of Il being wound up, members are required lo Contribute an amount not exceeding £1. Membership of the Company is reviewed al the Annual General Meeting as appropriate. The unincorporated Charity's goveming document is The Trust Founding Deed dating 1722. This has been amended over the years., the latest amendment is dated 17 December 2013. The unincorporated charity holds the charitable group's endowment assets. On 19 June 2018, the Charity Commission issued a Direction linking the charities for the purposes of Part 4 and Part 8 of the Charities Act 2011. Governors and charity trustees The Governors ol The Blue Coal School Birmingham Limited are the charity trustees and directors of The Blue Coal School Birmingham Limited Ilhe School} and The Blue Coat School charity. They meet al least four times a year as a full Board. The work of implementing most of their policies is carried out by members of five sub- committees." Finance & Estates", Awards,. Safeguarding and Health & Safely., Teaching. Learning & Curriculum,. Governance & HR The minutes of these sub-commillee meetings are reviewed at full Board meetings. The Bursar, in his capacity of Clerk to the Governors. is responsible for coordinating the work of the Governors and their committees, for the preparation of papers and management accounts and for the review of matters arising. New Govemors are appointed by the existing Board of Governors having identified gaps in expertise. Potential new Co-oplalive Governors have an initial meeting with the Chair of Governors and then attend a meeting with the Chairs of key subcommittees all of whom sit on the Governance and HR subcommittee. New co-oplative Governors are invited lo join up to sub-wmmittees most relevant lo their experienee and having regard to the existing number of members on each sub4ommittee. Indu¢tion and Training All new governors are allocated a mentor, undertake an induction programme and are given access lo the Governors Portal which contsins key documents and copies of previous sub-committee and committee minutes. All Governors are particularly encouraged lo attend various school functions and to meet members of the Senior Leadership Team, in order to be able lo understand further the nature of the School's business. An appropriate level of instruction is provided for both new and existing Governors to update their knowledge and place them in a position where they could sensibly identify their powers and responsibilities. From time lo time. Governors go on formal training courses that the School and that individual Governors identify are required for that Governor lo be able lo discharge hislher duty. All trustees give of their lime freely, and no remuneration was paid in the year. Expenses of £676 were paid lo three Governors during the year. Page 3

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA ¢ompany Ilmited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 Key management petsonnel The Governors consider that the Head, the Bursar, the Head of Prep, Head of Pre-Prep, Deputy Heads and the Director of Marketing & Admissions Isenior Leadership Team) comprise the Key Management Personnel {see note 11 to the accounts). The Govemors give of their lime freely and the pay and remuneration of the Head and Bursar is set by the Remuneration Committee and is kept under annual review. A number of criteria are used in setting pay.. Nature of the role and responsibilities Competitor salaries in the region The sector average salary fof comparable positions Trends in pay. Oryanisational management The Governors determine the general policy of the School. The day to day running of the School is delegated lo the Head, supported by senior staff. The Head undertakes the key leadership role, overseeing the educational, pastoral and adminislralive fundions in consultation with the senior staff. The day lo day 8dminislralion of the School is undertaken in line with the policies and procedures approved by the GoveTnors, which provide for significant expenditure decisions and major capital Projects lo be referred to the Govemors for prior approval. The Head and Bursar attend all Governors meetings and other senior staff are invited to attend Governors, meetings as appropriate. Other relationships The Head is 2 member of IAPS, which exists to share expertise, knowledge and experience across the independent preparatory school sector. The Bursar is a member of the IS8A, which provides professional development, technical support and invaluable reference material. Other key parties supporting the School include the Independent Schools. Council IISCI and the Association of Govefning Bodies of Independent Schools IAGBISI. BCS Enterprises is a wholly owned subsidiary undertaking of The Blue Coal School Limited. It is managed by the Govemors of the School and its purpose is lo generate surplus funds lo reinvest in the School. At present this is now a dormant company. PUBLIC BENEFIT The Governing Body have given due consideration to the Charity Commission's published guidance on the Public Benefit requirement under the Charities Act 2011. The main activities to further the charity's purposes for public benefit include.. Foundation places Each year Govemors allocate a sum of money to fund Foundation places. These pla￿S are advertised in numerous publications in the Birmingham area as well as being advertised online in various digitsl applications. Page 4

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED A company limited by guarantee) GOVERNORS. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 Communlty Link Programme The Community Link programme seeks to widen access lo our educational resources, by bringing independent and slate school communities together. This year, we made the following facilities and coaching available, at no charge, to benefit pupils attending local slate schools.. Use of the swimming pool for swimming lessons and swimming galas Use of the sports fields for sport festival and training Use of the School Chapel for musical events and religious observances Use of the school facilities and staff lo provide outreach opportunitses to local schools. Communlty access We all see The Blue Coat School as part of a wider community, and where we can assist the community whilst advaneing the education of our pupils we are delighted lo do so. Various Sports and Music Camps use the School during school holidays for sports and activities holiday camps. Our outreach programme has included opportunities for local schools lo access our facilities al no charge and lo lake part in 'Experience Days, during which they enjoy a wide variety of activities in specialist areas of learning (such as STEM, Music and Forest School). There is no charge for participation. OUR AIMS The object of the School is the provision and conduct, in or near the City of Birmingham, of a day school for boys and girls. Within this object, the School has various permanent endowments and reslricled Trust Funds held for special purposes in connection with the development of the School's facilities and for Foundations, scholarships, bursaries, prizes and other educational purposes. The School provides education to boys and girls from the ages of 3 -11 years in departments.. Pre-Prep13-7 years old)., and Prep17-11 years old). 11 is policy for all departments lo attain the highest academic levels, commensurate with a pupil's ability, as well as providing a co-curricular programme which aims to broaden a pupil's interest 8nd self-confidence. Instruction in the doctrines of the Church of England is given in the School and religious studies encompass education in the lenels of major world faiths. OUR OBJECTIVES Our objectives are set lo reflect our educational aims and the ethos of the School. 11 is important to us that we maintain and enhance the academic success of the School. The Governors have referred to the guidan￿ contained in the Charity Commission's general guidance on publi benefit when reviewing the charity's aims and objectives and in planning future aclivilies. In particular, the Govemors have considered how planned activities will contribute lo the aims and objectives set. Page S

THE BLUE COAT SCHOOL 81RMINGHAM LIMITED IA company limited by guarantee) GOVERNORS. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 The principal objectives for the coming year are.. To continue to make first<lass provision for the Early Years (from age three upwards), introducing our youngest children lo their educational life in sueh a way as to allow them to flourish fully as human beings in an ever-changing world. To maintain the current high stsndards of academic achievement indicated by senior school entrance exam results al 11-plus level and other external measures. To recruit and relain the best teaching and support staff to assist in the continued development and promotion of the School as a leading provider of preparatory education not only locally but nationally. To develop the all-round curricular and co￿UMeu1ar provision lo ensure excellen￿ in all areas,. academic, music, sport and performing arts. To widen access lo the school through the continued provision of means-lesled bursaries. To enhance links with the local eommunity and to encourage the community lo access the school. To prepare, in conjunction with the Headmaster, a detailed strategic plan incorporating a five-year financial m(xJel to assist in the development, financial management and control of the School. The Governors are responsible for setting a strategy for achieving the objectives they have sel. The focus of our strat￿Y is on the development of our pupils, their continued high levels of academic and co4urrieular achievement and on measures lo further widen access lo the education the School provides. In taking fotward our strategy we.. Review and benchmark the School's academic syllabus, teaching practices and examination results, Ensure that the range of co<urricular activities available to our pupils is stimulating and challenging", Invest in technology and the infraslruclure of our School., Co-operate and share resources with local schools., Develop methods for awarding bursanesl scholarships lo ensure wider access lo pupils from all backgrounds. OUR ETHOS Our ethos is to be a caring Chnstian School serving our local community and society. Our School welcomes pupils from all backgrounds. To admit a prospective pupil, we need to be satisfied that OLIT School will be able to educate and develop that pupil lo the best of their potential and in line with the general stsndards achieved by their peers. Entrance assessments are undertaken lo satisfy ourselves and parents that potential pupils can cope with the pace of learning and benefit from the education we provide. An Individual's economic slalus, gender, race, religion or disability do not form part of our assessment process. We are an equal OPFX)rtunily organisalion and are committed to a working environment that is free from any form of discrimination on the grounds of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex or sexual orientation. We will make reasonable adjustments to meet the needs of staff or pupils who are or who become disabled. Our School is committed to safeguarding and promoting the welfare of our pupils and expects all staff and volunteers to share this commitment. Page 6

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 SIGNIFICANT ACTIVITIES Academic achievements The 2022-2023 academic year was another successful year for the School continuing to deliver sound academic results whilst investing in infrastructure lo ensure the continued provision of fi'rst-class facilities. In addition to the high quality education the School provides for ils pupils, it continues lo offer an extensive programme of outdoor and cfrcurricular a¢tivilies. Sporting activities The School continues lo develop its 5POrting provision and ensures that children participate in a range of sports and learn different skills including athletics, chess, cricket. dance, football, gymnastics, hockey. judo, netball, rugby, and swimming. The School's sports facilities continued lo be used by local primary schools for swimming lessons and for outreach programmes and sporting festivals. Music and drama Music opportunities for all age groups include individual music lessons, choirs, ensembles and an orchestra. Children in all age4roups participate in a wide variety of drama activities. The Friends of The Blue Coat School The Friends of The Blue Coat School (Parents, Associationl have again organised a wide-ranging programme of events, designed lo foster a sense of community within the School. These have been successfvl in raising funds both for the School and for local charlties. SOCIAL INVESTMENT In order lo fulfil our aims and objectives of providing an education for boys and girls in or near the City of Bim)ingham, the School provides bursary and scholarship awards as follows." Bursaries The Governors, granl-making policy is, in each accounting year, lo set aside part of the Charity's investment income. lo maintain Foundation Places. This helps chIld￿n of merit 2nd good character for whom a funded education would be benef￿Cial bul could not be afforded without assistan¢e. In 2022-2023 the School provided assistance to 22 of our pupils of which 7 pupils benefited from a full remission of fees. The Foundation Awards also assist in funding additional costs such as school trips, co-curricular activities, uniform and other similar expenses. Scholarships In addition, the School awards scholarships to pupils based on either their educational or musical merit and potential. The Governors view our bursary and scholarship awards and our outreach programme as important in widening access lo the education our school provides In developing our plans for this programme, we work closely with the Heads of the schools in our community, ensuring the positive contribution lo our shared educational aims continues. Maintaining and, where necessary, developing the fabric and facilities of the School are central lo our strategy. Page 7

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 ACHIEVEMENTS AND PERFORMANCE Independent Schools Inspectorate IISII Inspectlon May 2021 ISI conducted a Regulatory Compliance Inspection of the School in May 2021. The School was found to be fully compliant and no further actions were required. An Educab'onal Quality Inspection IEQII of the School in May 2017. This Inspection related to the quality of the pupils, academic and other achievements and to the quality of the pupils, personal development. The school was found to be excellent in every aspect of these inspection judgements - the highesl-grade judgement lor these inspections. As the school had been judged lo be excellent in every respect, the report did not make recommendations, but il did make suggestions for consideration, both of which dovetailed with the school's own priorities. Pupll numbers Our educational activities are carried out through two departments." Pre-Prep13-7 years old)., and Prep {7-11 years old). At the year*nd the lolal pupil number was 626. FUNDRAISING There are no material fundraising activities al the School wt)i¢h require disclosure under S162A of the Charities Ac12011. FINANCIAL REVIEW The School's key financial objective is to ensure financial stability and continued solvency year on year so that it can pursue its charitable aims and objectives. The Govemors have followed SORP IFRS 1021 in preparing these financial slalemenls and the statement of financial affairs ISOFAI, balance sheet and notes are set out within. The Schools results for the year show a surplus before investment losses and other recognised gain of £46,037 12022 surplu5 of £321,353). The principal source of funds remains school fees of £7.874,472 12022 £7,456,370) which represented 86.7Vo {2022 87.20/0) of the lotsl income of £9,078,63212022 - £8,550,3561- Unrealised losses on our investments amounted to £297,326 {2022 - losses of £612,236) before movements on the defined benefit pension scheme. The investments are primarily used to fursd the bursary and scholarship award5 and olhei social investment. INVESTMENTS Investment activities are managed in line with the requirements of the Trustee Act 2000. The Governors have appointed CCLA as investment manager. The main investment objectives of the charity are". The creation of a sufficient financial return to enable the charity to carry out ils purposes effectively and without Interruption,. The maintenance and enhan￿ment of the investment funds over the long term., To obtain a balance between capital growth and income to enable the charity lo meet current and ftjture needs,. and lo maintain a balanced risk profile. The average income return on the portfolio remained uncharged at 2.9Qk. Page 8

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 KEY RISKS AND UNCERTAINTIES The Governors and Senior Leadership Team periodically review the major risks facing the charity. Risk registers are maintained and updated al least annually. Risks are considered under the headings of strategic, operational, financial and legaLI regulatory. Strategic risks include the School not being seen as a positive, modern organisation and it failing to provide education services that are attractive to parents and thus being unable lo maintain pupil numbers. These are critical lo the charity's aims lo provide education and learning opportunities lo children in the Birmingham area. These risks are managed by ensuring that the School provides an excellent, first-class education to every child., adopting proactive communication and PR slralegies", through Board scrutiny of activities,. robust financial controls", and recruilmenl and retention of high quality teachers and support staff. Financial risks include failure to meet income targets, particularfy from fee income and investments. School fee increases are carefully considered in conjunction with the School's strategic plans, the budget proeess and wider economic considerations. A conservative approach is taken lo estimating the contribution from external sources and non-core aclivilies. In general, financial risks are managed through regular monitorin9 and review of budgets during the financial year. Health and Safety risks include fire safety, pool safety and failure to comply with regulatory requirements including areas relating lo a5beslos management and water management systems. A robust Complian￿ system has been implemented and all of these risks are subject lo close monitoring by the senior management team and the SH&S Sub-committee. A comprehensive Risk Assessment was devised, existing policies were amended and additional policies were written lo ensure that the risks associated with the COVID-19 pandemic were managed. These were all regularly reviewed as Government advice and guidance was updated. The Governors are satisfied that appropriate actions have been taken to control and mitigate the impact of risks where possible. 11 is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. SUSTAINABILITY In line with our 5 year aims as detailed in our Strategic Framework document the school has undertaken to.. Reduce our carbon footprint and move towards lower overall emissions Ensure all future estate projects adhere to our sustsinable strategic aims Educate and empower pupils to lake positive action on sustsinabilily initiatives. Inslil a whole school approach lo the ¢ore principles of sustainability.. Refuse, Reduce, Reuse, Repuipose and Recycle. PENSION LIABILITY The Govemors recognise the liability existing in the Pensions Trust pension scheme for non-leaching staff. The Governors are satisfied that existing eash flows are sufficient lo meet any anlicipaled increases in costs. Pension costs have been reported within the accounts in accordance with accounting s18ndard FRS 102. For our non- leaching and support staff we offer a money purchase plan (defined contribution sehemel. Page 9

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA Company limlted by guaranteel GOVERNORS. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 RESERVES The Governors regularly review the finances, budgets and spend against budget and undertake a lermly cash ow analysis as part of their effective stewardship of the School. The total funds held by the School al the end of the reporting period of £21,288,549 included £1,461.374 of unreslricled general reserves and £4,707,329 of designated fvnds plus a pemianenl endowment of £15,124,945. The Governors designate unrestricted funds lo fund future specific projects. The Governors are planning lo invest substantial sums into new facilities and upgrades in the next five years, with a view lo further improving the facilities. The Governors consider that, given the strength of the charity's balance sheet, the stable cash flow from strong student numbers, the ongoing popularity of our School and the available funds, it will not be necessary to seek external funding for these proiecls. The Governors aim lo ensure that the School has sufficient resources available to support the working capital requirements of the core activities of the School in unforeseen eireumslances, giving sufficient lime lo allow financial policy to adapt to any new circumstances. These working capital reserves equate to approximately one term's total expenditure, £3 million. Restricted funds are held for the benefit of the children for supporting learning needs and co-curricular activities as set out in the detailed accounts within this report. There was a negative balance of £5,099 al year end, however donations of £7,500 were received a few days after the year end. There is a Continuing programme of refurbishment, development and investment lo maintain ex￿lIent teaching facilities for our pupils. The closing net book value of our tangible assets, propety, plant and equipment was £6,675,585. CHARITY GOVERNANCE CODE The Govemors are aware of the new charity governance code issued in July 2017. Reviews continue lo be undertaken of the guidance requirements in order lo ensufe that the charity is working in line with the code, in all ways where it is practical lo do so. GOVERNORS, RESPONSIBILITIES STATEMENT The Governors (who are also directors of The Blue Coal School Birmingham Limited for the purposes of company lawl are responsible for preparing the Governors, report and the financial statements in accordance with applicable law and United Kingdom Accounting Slandar(Js (United Kingdom Generally Accepted Accounting Practice). Company law requires the Governors tQ Prepare financial statements for each financial year. Under company law the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the eharitable company and the Group and of the incoming resources and application of resources, including the income and expenditure, of the charitable Group for that period. In preparing these fi'nancial statements, the Governors are required to.. select suitable accounting policies and then apply them consislenlly,. observe the methods and principles in the Charities SORP IFRS 1021., make judgements and eslimales that are reasonable and prudent., stale whether applicable UK accounting Standards have been followed, subject lo any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the Group will continue in operation. Page 10

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company limited by guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the Group's transactions and disclose with reasonable accuracy at any lime the financial position of the charitable Group and enable them to ensure that the financial stslemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. DISCLOSURE OF INFORMATION TO AUDITOR Each of the persons who are Governors al the time when the Governors, report Is approved has confirmed Ihal.. so far as that Governor is aware, there is no relevant audit information of which the eharilable Group's auditor is unaware, and that Governor has tsken all the steps that ought to have been taken as a Governor in order to be aware of any relevant audit information and lo establish that the charitable Group's auditor is awaTe of that inftirmation. AUDITORS Crowe U.K. LLP has indicated its willingness to be reappointed as stslutory auditor. Approved by order of the members of the board of Govemors and signed on their behalf by.. Mrs K Gilmore DPSN RGN HV Chair of Governors Dale.. Page 11

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company Ilmlted by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BLUE COAT SCHOOL BIRMINGHAM LIMITED Opinion We have audited the financi81 statements of The Blue Coat School Birmingham Limited (the 'charilable ¢omp2ny'l foT the year ended 31 August 2023 which comprise the Statement of financial aclivilies, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practi￿1. In our opinion the financial statements.. give a true and lair view of the stste of the charitable company's affairs as al 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. OLJr re5ponsibililies under those standards are further described in the Auditor's responsibilities for the audit of the fin8n¢ial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In audrting the financial slatemenls, we have concluded that the Govemors. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue as a going concern for a period of at least ￿e1ve months from when the financial slalemenls are authorised for Issue. Our responsibilities and the responsibilities of the Governors with respect lo going Concern are described in the relevant sections of this report. Page 12

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company Ilmited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BLUE COAT SCHOOL BIRMINGHAM LIMITED ICONTINUEDI Other Information The other information comprises the information included in the Annual report other than the financial slalemenls and our Auditor's report thereon. The Governors are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, eonsider whether the other information is materially inconsislenl with the financial statements or our knowledge obtsined in the course of the audit, or otherwise appears lo be materially misstated. If we identify su¢h material inconsistencies or apparent m2terial misslalements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misslalemenl of this other information, we are required to report that fact. We have nothing to report in this fegard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Governors, Report including the Strategic Report for the financial year for which the financial ststemenls are prepared is consislenl with the financial statements. the Governors, Report and the Strategic Report have been prepared in a¢¢ordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding ol the charitable company and its environment obtsined in the course of the audit, we have not identified material misstalemenls in the Governors. Report including the Strategic Report. We have nothing lo report in respect of the following matters in relation lo which Companies Act 2006 requires us to report lo you if, in our opinion.. adequate aecounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial slalemenls are not in agreement with the accounting records and returns., or certain disclosures of Govemors, remuneration specified by law are not made., or we have not received all the infomialion and explanation5 we require for our audit. Responsiblllties of trustees As explained more fully in the Governors, fesponsibililies statement, the Governors (who are also the diredors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Governors determine is necessary to enable the preparation of financial statements that are free from matenal misstatement, whether due lo fraud or error. In preparing the financial statements, the Governors are responsible for assessing the charitable company's ability lo eonb'nue as a going concern. disclosing. as applicable, matters related lo going Concern and using the going concern basis of a¢eounling unless the Governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 13

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BLUE COAT SCHOOL BIRMINGHAM LIMITED ICONTINUEDI Auditor's responsibilities for the audit of the financlal statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and lo issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assuran￿, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delect a material misslalemenl when it exists. Misstalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slalemenls. Irregularities, includin9 fraud, are instances of r¢on<ompl1an￿ with laws and regulations. We design pro¢edures in line with our responsibilities, outlined aljove, lo delecl material misslatemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of delecling irregularities, including fraud is detailed below.. Vve obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a di￿¢1 effect on the determination of material amounts and disclosures In the financial slalements. The laws and regulations we considered in this context were the Companies Act 2006, tsxalion legislation, together with the Charities SORP IFRS 1021. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial ststement items. In 8ddition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements bul ¢omplian¢e with which might be fundamentsl lo the charitable company's ability lo 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 Ilndependenl School Slandardsl Regulations 2014, General Data Protection Regulation IGDPRI. Health and safety legislation, and Employment legislation. Auditing standards limit the required audit procedures lo 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 slalemenls from Irregularities, Including fraud. to be within the timing of recognition of donation and ancillary income. procurement processes for significant capital projects and the override of controls by management. Our audit procedures lo respond lo these risks included enquiries of management, and the Finance Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of joumals. reviewing accounting eslimales for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate. Ofsled and reading minutes of meetings of those charged with governance. Owing to the inherent limitstions of an audit, there is an unavoidable risk that we may not have detected some material misslatemenls in the financial ststements, even though we have properly planned and performed our audit in accordance wrth auditing standards. For example, the further removed non-compliance with laws and regulations lirregulariliesl is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures reqLJired by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non4eteclion of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non- complian￿ and cannot be expected lo delect non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Rèporting Council's website at". www.frc.o .ukJaudilorsres nsibililies. This description forms part of our Auditorfs report. Page 14

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BLUE COAT SCHOOL BIRMINGHAM LIMITED (CONTINUED)

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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

==> picture [132 x 34] intentionally omitted <==

Kerry Brown (Senior statutory auditor)

for and on behalf of

Crowe U.K. LLP Statutory Auditor Black Country House Rounds Green Road Oldbury West Midlands 869 2DG

Date: 12 February 2024

Page 15

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2023 Unrestricted funds 2023 Restricted Endowment funds funds 2023 2023 Totsl funds 2023 Total funds 2022 Note Income and endowments from: Donations and legacies Charitable activities.. School fees Ancillary trading income Investments 8.800 31.464 40,264 46,687 7,874,472 633.851 530.045 7.874,472 633,851 530,Q45 7,456,370 567, 139 480,896 Total income and endowments 9,047,168 31,464 9.078.632 8,551,092 Expenditure on.. Raising funds.. Financing costs Charitable aclivilies.. Education and grant making 18331 1833) 923 8.831,671 41.586 160.171 9.033A28 8,228,816 Totsl expenditure 8,830,838 41,586 160,171 9,032,595 8,229, 739 Net Incomellexpenditurel before net losses on investments 216,330 164,7971 110,1221 1160,1711 1232.529) 46.037 1297.326) 321.353 (612,236) Nel losses on investments Net in¢omellexpenditure) Transfers be￿een funds Net movement in funds before other recognised gains 151,533 115.501} 110,1221 1392,700} 15,501 1251,2891 (290, 883) 21 136.032 110.1221 1377.1991 1251,289) (290,883) Other rècognised gains: Actuarial gains on defined benefit per¢sion schemes 27 64 4T8 Net movement in funds 136,096 110.1221 1377.1991 {251.2251 (290,405) Pa9e 16

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 Unrestricted funds 2023 Restrlcted Endowment funds funds 2023 2023 Total funds 2023 Tot81 funds 2022 Note Reconciliation of tunds: Total funds brought forward Net movement in funds 6,032.607 136,096 5,023 110.1221 15.502,144 21.539.774 {377,1991 1251,2251 21,830,179 (290,405) Total funds carried for•iard 6,168.703 15,0991 15.124,945 21.288.549 21,539,774 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 20 to 50 fomi part of these financial statements. Page 17

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) REGISTERED NUMBER.. 08502615 BALANCE SHEET AS AT 31 AUGUST 2023 2023 2022 Note Flxed assets Tangible assets Investments Investment propety 13 15 14 6,675,585 13,235.519 1,415.000 6,823.585 13.532.846 7,415, 000 21,326,104 21, 771,431 Current assets Debtors Cash al bank and in hand 16 466.540 1.563.883 327,274 1,368,489 2,030,423 1,695, 763 Creditors.. amounts falling due within one year 17 12.066,2671 {1.921.300) Net current Iliabilitiesl l assets 135,844} {225.537) Total assets less current Ilabilities 21.290.260 21.545.894 Creditors.. amounts falling due after more than one year 18 {1,7111 {6, 120) Totsl net assgts 21,288.549 21,539,774 Charity funds End()wmenl funds Restricted funds Unreslncted funds 21 21 15,124,945 {5,0991 6,168.703 15,502, 144 5.023 6.032.607 21 Total funds 21,288.549 21.539. 774 The Governors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements were approved and aulhorised for issue by the Governors and signed on their behalf by.. Mrs K Gilmore DPSN RGN HV Dale.. The notes on pages 20 10 50 fomi part of these financial statements. Page 18

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Note Cash flows from operating activities Nel cash used in operating activities 23 1102,3651 617.255 Cash flows from investing activities Dividends, interests and rents from investments Proceeds from the sale of tsngible fixed assets Purchase of tangible fixed assets Purchase of investments 530,045 1,950 1234,2361 480,896 (997,091) (500,000) Net cash provided byl{used in} Investing activities 297,759 11,016,195) Change in cash and cash equivalents in the ygar Cash and cash equivalents at the beginning of the year 195,394 1398,9401 1,767,429 1,368,489 C3$h and cash gquivalents at the end of the year 24 1,563,883 1,368,489 The notes on pages 20 10 50 form part of these financial statements Page19

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 General information The company is a company limited by guarantee Iregislered number 085026151, which is incorporated and registered In England and Wales Its charity registration number Is 1152244. The registered office and principal place of business is The Blue Coat School Birmingham, Somersel Road. Edgbaslon, Birmingham, B17 OHR. The principal activity is lo provide a day school for boys and girls near the City of Birmingham. In June 2018 the Charity Commission issued a Diredion linking The Blue Coat School Birmingham Limited with the charity The Blue Coal School Bitmingham (charity iegislration number 1152244-11. This eharity holds the charitable groups endowment assets. The members of the Company are the Governors named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limrted to £1 per member of the company. Accountlng pollcles 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the ChaTlties SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. The Blue Coal School Birmingham Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities 8re initially recognised at historical cost or Iransaelion value unless otherwise stated in the relevant aceounling poliey. 2.2 Going concern The financial statements have been prepared on a going concern basis as the Iruslees believe that no material uncertainties exist. The Iruslees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial slatemenls. The budgeted income and expenditure is sufficient with the level of resetves for the charity lo be able lo continue as a going concern. 2.3 Fund accounting General funds are unreslricled funds which are available for use al the discretion of the Governors in furtherance of the general objectives of the Company and which have not been designated foi other purposes. Designated fvnds comprise unreslricled funds that have been sel aside by the Governors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Reslricled funds are funds which are to be used in accordan￿ with speeific restrictions imposed by donors OT which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specifie fund. The aim and use of each restricted fund is set out in the notes lo the financial slalemenls. Page 20

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting pollcies {continuedl 2.3 Fund accounting Icontinuedl Endowment funds represent those assets which must be held permanently by the charity, principally investments and deposits. Income arising on the endowment funds can be used in accordance with the object of the charity and is included as unrestricted income. Any capital gains or losse$ arising on the investments form part ol the fund. Investment management charges and legal advice ￿lats'ng to the fund are charged against the fund. The endowment funds are all held by the subsidiary charity The Blue Coat School Birmingham. 2.4 Income All incoming reSoUr￿S are included in the Statement of Financial Aelivilies when the charity is legally enlilled lo the income after any performance conditions have been mel, the amount can be measured reliably and it is probable that the income will be received. Donations and legacies For donations lo be recognised the charity will have been notified of the amounts and the settlement dale in writing. If there are conditions attached lo the donation and this required a level of perforrnan￿ before entitlement can be obtained, then income is deferred until those Conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable. il can be measured reliably, and the charity has ¢onlrol over the item. Fair value is determined on the basis of the value of the gift lo the charity. For example, the amount the charity would be willing lo pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer lime in line with the SORP IFRS 1021. Fixed asset gifts In kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset. For legacies, entitlement is the earfier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified lo the charity however il is not possible to measure the amount expecled lo be dislributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Fees and SiTmilar Income Fees re￿IV8b1e and charges for seNices and use of premises are accounted for in the period in which the service is provided. Fees receivable are slated after deducting allowances, scholarships and other remissions 9ranled by the school froni its unreslricled funds. Where income Is received in advan￿ it is treated as deferred income and included within creditors. Incomè fmm trading activities Income from trading activities includes income earned from fundraising events and tradin9 activities lo raise funds for the charity. Income is received in exchange for supplying services in order lo raise funds and is recognised when entitlement has occurred. Page 21

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting pollcles Icontlnued) 2.4 Income Icontlnuedl Investment income Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable lo identify investment management costs incurred within a scheme with reasonable accuracy the investment Income is reported nel of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity's right lo re￿1ve payment is established. Other income 1S Tecognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 2.5 Expenditure All expenditure is accounted for on an accruals b8sis and has been classified under headings that aggregate all costs related lo category. Expenditure is reeognised where there is a legal or onstructive obligation lo make payments lo third parties, il is probable that the settlement will be required and the amount of the obligation can be measured reliably. 11 is categorised under the following headings.. Costs of faising funds., Expenditure on charitable activities., Other expenditure represents those rtems not falling into the categories above. Charitable expenditure comprises those costs incurred by the chantable group in the delivery of activities and se￿iceS for ils beneficiaries. Governance costs include those costs associated with meeting the conslilulional and slatulory requirements of The Blue Coat School Birmingham Limited and ils subsidiaries, this includes audit fees. All costs are allocated be￿een the expenditure categories of the Slalemenl of Financial Activities on basis designed lo reflect the use of the resource. Costs relating to a particular activity comprise both costs that can be allocated directly lo such actsvities and those costs of an indirect nature ne￿$sary lo support them. Expenditure Is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third paty, Il is probable that a ttansfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributsble lo a single activity are apportioned between those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Company lo raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charilable trading. Page 22

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 A¢¢ounting policios Icontinuedl 2.5 Expenditure {continued} Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support eosls. 2.6 Tanglble fixed assets and depreciation Tangible fixed assets costing £1,000 or more are capitslised and recognised when future economic benefits are probable af)d the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulaleé depreciab'on and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straighl-line method. Depreciation is provided on the following bases.. Freehold propety Fixtures and equipment Motor vehicles Computer equipment 1.50/0- 20.kn Straight Line 100/0 20°/o Slraighl Line 20Q/o Slraighl line 33.3°k Straight Line Depreciation is not charged on freehold land. 2.7 Investment property Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the heading 'Gainslllossesl on investments, in the Statement of financial activities. No depreciation is charged on Investments properties in accordance with the Charities SORP. 2.8 Investrnents Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured al fair value al the Balance sheet date, unless the value cannot be measured reliably in which case il is measured al cost less impairment. Investment gains and losses, whether realised or unrealised. are combined and presented as 'GainsllLossesl on investments, in the Statement of financial activities. Investments in subsidiaries are valued at cost less provision for impairment. 2.9 Operatlng leases Rentsls paid under operating leases are charged lo the Slatemenl of financial activities on a straight- line basis over the lease term. Page 23

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies Icontinuedl 2.10 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 2.11 Cash at bank and in hand Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.12 Liabilities and provisions Liabilitses are recognised when there is an obligation at the Balan￿ sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anlicipales il will pay to sellle the debt or the amount il has received as advanced payments for the goods or services it musl provide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rale that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Ststement of financial activities as a finance cost. 2.13 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised at transac110n value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amorb'sed cost using the effective interest method. 2.14 Taxation The Company is ¢onsidered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable comp8ny for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively lo charitable purposes. 2.15 Pensions Retirement benefits lo teachers employed by the school are provided by the Teachers, Pension Scheme I'TPS'I. This is a defined benefit scheme. The TPS is an unfunded scheme and contributions are calculated so as lo spread the costs of pensions over employees. working lives with the school in such a way that the pension costs is substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unil credit method. As slated in note 26, the TPS is a mulli-employer scheme and there is insufficient information available to use defined benefit accounting. The TPS is therefore Irealed as a defined contribution scheme for accounting purposes and the contributions recognised in the period lo which they relate. Page 24

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Crltical accounting estlmates and areas of Judgement Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstsnces. Critical accounting estimates and assumptions.. The Company makes eslimales 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 8 significant risk of causing a material adjustment lo the carrying amounts of assets and liabilities within the next financial year are discussed below. In preparing these financial statements, the Governors have made the following judgements.. Investment properties Investment properties are valueol on the basis of market value of the freehold interest with vacant possession al the year end. Recoverability of trade debtors Trade and other receivables are recognised lo the extent that they are judged reeoverable. Management reviews are performed lo estimate the level of resources required for Irrecoverable debt. Provisions are made specifically against invoices where recoverability is uncertain. Management makes allowan￿ tor doubtful debts based on an assessment of the recoverability of debtors. Allowances are applied to debtors where events or changes in circumstances indicate that the carrying amounts may not be recoverable. Management specifi'cally analyse historical bad debts, current economic trends and changes in payment terms when making a judgment lo evaluate the adequacy of the provision for doubfful debts. Vvhere the expectation Is different from the onginal estimate, such difference will impact the carrying value of debtors and the charge in the Statement of financial activities. Page 25

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA eompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Income from donations and legacies Unrestrieted Restricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Donations 8,800 31,464 40,264 46,687 Total 2023 8,800 31.464 40,284 46,687 Totèl 2022 8,000 38.687 46,687 Charitsble activities - School fv8s 2023 2022 Gross luitson fees Less." Awards, scholarships and bursaries from unrestricted funds Less.. Fee discounts 8.358.551 {340.5861 {143,4931 7.957,554 (348,317) (146,867) 7,874,472 7,456,370 Awards, scholarships and bursaries were paid lo 51 pupils 12022 45 pupils). Within this were means lesled bursaries lotalling £246,813 paid lo 22 pupils12022 £272,962 to 24 pupils). The total income from school fees is unrestricted in both years. Charitable activities - Other ancillary trading income 2023 2022 Exlra<urricular activities Registration fees School trips Other income 285,737 10,200 221,819 116,095 271,534 18,200 159,070 118.335 633.851 567. 139 The total ancillary trading Income Is unreslricled in both years. Page 26

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limitgd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Investment Income Unrestricted funds 2023 Total funds 2023 Total funds 2022 Rental income Dividend income Deposit account interest 85,121 386,844 58,080 85.121 386,844 58.080 88,057 383,829 9,010 Total 2023 530,045 530.045 480,896 Total 2022 480.896 480.896 Expenditure on raising funds - Financing costs Unrestricted tunds 2023 Total funds 2023 Total funds 2022 Bad debt lincomellcosls Property management fees 13,4991 2,666 13,499) 2,666 (1.626) 2.549 Total 2023 18331 18331 923 Total 2022 923 923 Page 27

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Analy$i$ of ¢xp¢nditure on charitable activities Summary by fund type Unrestricted Restrlcted Endowment funds funds funds 2023 2023 2023 Total 2023 Total 2022 Teaching Catering Premises Support and governance 4,902,901 576,906 2,076,394 1,275,470 41,386 160,171 5,104,458 576,906 2,076,594 1.275.470 4, 743, 157 581,891 1.803.571 1, 100, 197 200 Total 2023 8,831,671 41,586 160,171 9,033.428 8,228.816 Total 2022 8,056,818 51.808 120, 790 8,228.816 Summary by expendlture type Staff costs Depreclation Other costs 2023 2023 2023 Total 2023 Total 2022 Teaching Catering Premises Support and goveman 4,142,646 216,928 744,884 576,906 1,514,498 471,651 5.104,458 576,906 2,076,594 1,275,470 4,743, 157 581, 891 1,803, 571 1.100,79T 414.265 786,372 147.831 17.447 Total 2023 5,343,283 382.206 3,307,939 9.033,428 8,228,876 Total 2022 4.840,929 349.545 3.038.342 8,228,816 Page 28

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 10. Auditorfs remunerotion 2023 2022 Fees payable to the Company's auditor for the audit of the Company's annual accounts 21,400 16.500 Fees payable lo the Company's auditor in respect of". Accountancy services 3.350 3, 725 11. Staff costs 2023 2022 Wages and salaries Social security costs Contribution lo defined contribution pension schemes 4,206.780 407,913 728,590 3.844,282 378. 166 618.481 5.343.283 4,840,929 During the year there were redundancy or leTminalion payments made which amounted lo £NIl 12022 £Nill. There was nil 12022 £Nill outstanding at the year end. The average number of persons employed by the Company during the year was as follows.. 2023 No. 2022 No. Teaching staff Administralivelsupport staff 71 70 56 51 122 126 Page 29

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 11. Stsff costs {¢ontinued) The number of employees whose employee benefits (excluding employer pension costs) ex￿eded £60,000 was.. 2023 No. 2022 No. In the band £60,001- £70,000 In the band £90,001- £100,000 In the band £110,000- £120,000 In the band £160,001 £170,000 In the band £171,000- £180,000 The total amount of employee benefits received by key management personnel is £782,504 to 7 staff members12022- £797,165, to 8 staff membersl. 12. Governors. remuneration and expènses During the year. no Governors received any remuneration or other benefits (2022- £NIL). During the year ended 31 August 2023, expenses tolalling £676 were reimbursed or paid directly lo 3 Governors (2022 - £1.024 to 3 Governo￿) .Expenses related lo courses, accommodation and travel expenses. Page 30

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 13. Tanglble fixed assets Freehold Fixtures school and Computer premises equipment equipment Assets School under Minibus construction Totsl Cost or valuation At 1 September 2022 Additions Disposals 9.805,435 15.499 200.807 749.475 10,644 161,382 133,760} {122.2331 65,499 10.821,216 234,236 1155,9931 46.711 At 31 August 2023 9.820,934 177,691 788.624 65,499 46,711 10.899A59 Depreciation Al 1 September 2022 Charge for the year On disposals 3.139,498 301,973 171.274 654,688 8,423 58,710 33,760} {122,2031 32,171 13,100 3,997.631 382.206 11S5,9631 At 31 August 2023 3,441.471 145,937 591.195 45,271 4,223,874 Net book value Al 31 August 2023 6,379,463 31,754 197,429 20.228 46.711 6,675.585 At 31 August 2022 6,665.937 29,533 94, 787 33,328 6, 823,585 Page 31

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 14. Investment property Freehold investment property Valuation Al 1 September 2022 1.415.000 Al 31 August 2023 1.415.000 Comprising". 2023 2022 416 Birmingham Road. Wylde Green 119-120 Glover Street 256 Harborne Road, Edgbaston 435,000 130,000 850,000 435,000 130,000 850,000 1,415,000 1,415,000 The investment property consists of buildings held for investment purposes and are not used in the School's own aclivilies, both residential and industrial propety are held and aTe let out on the open market. The Properties located al 416 Birmingham Road, and 119-120 Glover Street were revalued by Burley Browne Chartered Surveyors in October 2022. The property located al 256 Harborne Road were revalued by Fishers IHarboTnel Limited in Novembef 2022. The Governors believe that the value of the investment properties al the year end d￿S not materially differ from the value obtained al the dates listed above. Page 32

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 15. Flxed ass9t investments Investments Investments In subsidiary and company deposits Total Cost or valuation Al 1 September 2022 Revaluations 100 13,532,746 13.532,846 1297,3271 1297.3271 Al 31 August 2023 100 13.235,419 13.235.519 Net book value Al 31 August 2023 100 13,235,419 13.235,519 At 31 August 2022 foo 73,532,746 13,532,846 Investments and deposits ¢omprlse: 2023 2022 Charities Official Investment Fund - Income shares 13,235.419 13,532, 746 Principal $ubsldlaries The following was a subsidiary undertaking of the Company.. Company Registered office or Principal activity Class of Holding number principal pla¢e of shares business Name BCS Enterprises Limited 09109064 The Blue Coal School Dormant in Birmingham current year Somersel Road Edgbaston Birmingham B17 OHR. Ordinary 1009 Page 33

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 15. Flxed asset Investments Icontinuedl The financial results of the subsidiary for the year were.. Name Net assets BCS Enterprises Limited 100 16. Debtors 2023 2022 Trade debtors Other debtors and accrued income Prepayments 210.710 146,627 109,203 195, 142 70, 880 61.252 466.540 327,274 An impairment loss of £2,66712022 - £6,165) was recognised against fee debtors. 17. Credltors: Amounts falling due wlthln one year 2023 2022 Trade creditors Other taxation and social security Fees in advance Inole 191 Deposits (note 201 Pension liability Accruals and other creditors 452,009 98,189 915,611 191,650 4,716 404,092 402,207 87.913 725, 780 187,850 4, 716 512,834 2.066,267 1,921.300 18. Credltors: Amounts falling due after more than one year 2023 2022 Pension liability 1,711 6,120 Page 34

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 19. Fees In advance Movement of fees in advance.. 2023 2022 Balance at 1 September New advance fees received Amounts ulilised in payments 725,780 915,611 1725,7801 668,233 725, 780 (668,233) Balance as at 31 August 915,611 725.780 20. Fee deposits Movement of fee deposits.. 2023 2022 Balance at 1 September New deposits received Deposits ulilised 187,850 34,500 {30,7001 185,400 36,000 (33.550) Balance as at 31 August 191,650 187.850 The Governors have reviewed the terms of the deposils which are held by the school. Under normal circumstances these will be repaid over future years when the pupils complete their education with the school, however pupils can leave at any csate. Therefore, the school has no conditional right lo relain the deposits for at least 12 months after the reporting date, in line with the requirements of FRS 102. As such, the balance of all deposits held al 31 August 2023 have been included within creditors due within one year. Page 35

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company1Smlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 21. Statement of funds Statement of funds - eurrent year Balance at 1 September 2022 Balance at Gainsl 31 August {Lossesl 2023 Transfers Inllout} Income Expenditure Unrestricted funds Designated funds Extraordinary repair fvnd Loppylugs & Barbara Morrison Trust School nursery and four classroom block 575,545 104,499 680.044 8,000 8,800 116,8001 2,399.783 1.085.000 263.443 120,000 120.000 372.819 2,519,783 1.205,000 302,502 New build fund Foundation fund 1333.7601 Old Scholar Donation 1.326 11,3261 4.333,097 8,800 1351.8861 717,318 4,707,329 Balance at 1 September 2022 Balance at Giinsl 31 August (Losses) 2023 Transfers inlloutl In¢ome Expenditure General funds General Funds - all funds 1,699,510 9,038,368 18,478,952) 1732,819} {64,733} 1.461.374 Total Unrestricted funds 6,032,607 9,047,168 18,830,838} {15,501} {64.733} 6.168.703 Endowment funds Endowment Funds - all funds 15,502,144 1160,1711 15,501 1232,5291 15,124,945 Page 36

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 21. Ststement ot funds Icontlnued} Balance at 1 September 2022 Balance at Gainsl 31 August {Lossesl 2023 Transfers Inlloutl Income Expendituro Restricted funds Diana Willis memorial pryze Limoges Trust John Avins Trust Grand piano Sir John Saville Trust Reginal Farrar Fund Association ol Friends BCS Hatfield Fund Chris Byrne Memorial Prize Fund King Fund Girls Cricket Fund 165 165 {7,3131 6,924 2,000 114,2371 14,9391 12001 2.939 200 18,000 {18,0001 506 506 413 530 4,000 40 13,9551 12551 458 315 120 120 150 150 500 500 5.023 31,464 141,5861 {5,0991 Total of funds 21,539.774 9,078,632 19,032,595) {297,2621 21,288,549 Page 37

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 21. Statement of funds Icontinuedl Statement of funds- prioryear Balance al I September 2021 Balance al 37 August 2022 Transf815 in/(oul) Gain (Losses) Income Expenditure Unrestricted funds Deslgnated funds Extraordinary repair fund Loppylugs & Barbara Morri50n Trust School nursery and four classroom block New build fund 1,414,311 (838, 766) 575,545 8,000 8,000 2,279. 783 965.(XJO 220.512 720.000 120.000 315,893 2,399, 783 1,085.000 263,443 Foundation fund (272,962) Old Scholar Donation 1,326 1,326 4.880, 932 8, 000 {272,962J (282,873) 4,333, 097 Ggneral funds General Funds - all funds 2, 720,052 8,504,405 {7, 784, 779) {488,583) (651,585) 1,699,510 Total Unrestricted funds 7,000,984 8,512,405 (8.057, 741) (777,456) (651.585) 6,032, 607 Page 38

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 21. Statement of funds Icontinuedl Endowment funds Endowment Funds- all funds 14,811, 951 (120, 190) 771,456 39,827 15,502,144 Balance 81 1 September 2021 Balance 81 37 August 2022 Transfers in/(oulJ Gain (Losses) Income Expenditure Restricled funds Diana Willis memorial pryze Limoges Trust Chapel fund John Avins Trust Grand piano Sir John S8ville Trust 165 7,019 1,214 939 165 5,000 (72,019) (1,214) 2,000 2,939 200 800 (600) 6,892 550 (7,442) Reginal Farrar Fund Association of Friends BCS King Fund Haffield Fund Chris Byrne Memorial Prize Fund 300th Celebration Funds 506 89 2,250 50 230 (1, 926) 413 150 100 300 530 120 120 28,607 (28, 607) 18,144 38, 687 (51, 808) 5,023 Total of lunds 21,830,779 8,551,092 (8.229, 739) (611, 758) 21, 539, 774 Page 39

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company limited by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 21. Summary of funds (continued) DESIGNATED FUNDS Extraordinary repair fund - In accordance with the terms of the charity commission the Governors had established a fund by 1 September 2009 to provide for the extraordinary repair, improvement and rebuilding of the school's property. The Governors have made a transfers in of £120.000 12022 £120,000) this year lo the fund lo finance repairs and transfers out of £15,501 12022- £958,766) to fund capital works on the chapel and the new Scien￿ building Loppylugs and Barbara Morrison Charitable Trust This donation is available for use al the Headmaster's discretion taking onto account the donors. Interests. School Nursery and Four£lassroom block - Fund set aside by the Governors following the charity ommission approval of the use of the £2m of the endowment fund for the development works. This is a apital fund and the future depreciation of the assets constructed will be charged lo it. The Governors have made a transfers of £120,00012022 - £120,000) this year lo the fund. New Build Fund - The Governors h8ve agreed lo set aside a sum of money annually to reflect the use of endowment funds which were expended on the School Nursery and Four Classroom Block. The Goveinors have made a transfers of £120,00012022 - £120.0001 this year to the fund. Foundation fund - Designated - The Govemors have agreed to set aside annually a sum equal lo not less than 50/0 of the nel fee income of the previous financial year. The amount set aside is lo be applied in the provision of places at the school for children of merit and good character who are in need of financial assistance, and supporting slate sector schools in need of additional support to enhance leaching and learning. In the current year the amounts sel aside tolalled £372,819 12022 £393,264) and amounts advanced to pupils tolalled £255,520 12022 £272,230). The value of support provided to slate sector schools amounted to £78,24012022'. £Nill. Old Scholar Donation - Donation in memory of Mr Emesl Jones lo be spent as seen fil. ENDOWMENT FUNDS The Permanent endowment fund has lo be held by the Blue Coal School Bimiingham Icharily number 1152244-11 indefinitely under the Scheme approved by the Charity Commission on 12 March 1986. There is no power to convert the capital into income. The transfer relates lo addition5 on endowed property. Page 40

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 21. Summary offunds (continued) RESTRICTED FUNDS Dlana Wills memorlal prize - This prize fund was sel up a former teacher to reward a pupil's reading ability. The fund was to be used lo provide one book prize a year. Limoges Trust - Grants received to further the development of musical drama within the school. Thi5 fund is temporarily in deficit al year end however post year end funds have received to clear this. The John Avins Trust - Fund provided for equipment and fesources for the benefit of g￿fted children in need of financial support within the school. Grand Piano Funds provided by the Birmingham Community Foundation and the Loppylugs and Barbara Morri50n Charitable Trust to purchase 3 grand piano. This is a capital fund and the future depreciation of the asset will be charged to it. Slr John Saville Trust - Funds provided by Mr John Saville towards the continued support of the young people of Birmingham. The Reginald Farrar Fund - Funds provided by Mr Reginald Farrar towards the advancement of the mathematics department. Association of Friends - Funds raised by the parents and friends of The Blue Coat School to Pfovide additional equipment. resources and entertainment for the pupils. Hatfield fund - Donation towards bursaries. Chris Byrne Memorial Prize Fund - To fund a book prize at annual prize giving. King Fund - Donation toward the bursaries. Girls Cricket Fund - Funding received to promote Girls Cricket al the School. Chapel Fund - Donations provided for the equipping of the School Chapel. 300th Celebration Fund Funds generated during the Ter¢enlenary celebrations, raising funds for chapel renovations. Page41

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 21. Summary of funds (continued) Summary of funds - current year Balance at 1 September 2022 Balance at Gainsl 31 August (Losses) 2023 Transfers inlloutl Income Expendlture Designated funds General funds Endowment funds Reslricled funds 4,333,097 1,699.510 8,800 1351,8861 9,038.368 18,478.9521 717,318 1732.819) 4,707,329 {64,7331 1,461,374 15,502.144 5.023 1160,1711 {41,5861 15.501 1232.5291 15.124,945 15,0991 31,464 21,539,774 9.078,632 {9,032,5951 1297,2621 21,288,549 Summary of funds- prior year BalanGe at I September 2021 Balan￿ at 31 August 2022 Transfers in/(outJ Gain (Losses) Income Experpditu Designated funds General funds Endowment fijnds Restricted funds 4,880, 932 2, 120,052 (272.962) 8,504,495 (7, 784, 779) (282,873) (488,583) 4,333.097 1,699,510 (651,585) 14,811,051 18.144 (120, f 90) (51.808J 771,456 39,827 15,502, 144 5,023 38.687 21,830,179 8, 557,092 (8,229. 739) (611. 758) 21.539, 774 Page 42

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 22. Analysis of net assets be￿een funds Analysis of net assets between funds - current yoar Unrgstricted Restricted Endowment funds funds funds 2023 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset inve51menls Investment property Current assets Creditors due within one year Creditors due in more than one year 3.017,949 3,183,210 3,657,636 6,675.585 10,052,309 13,236,519 1,415,000 1,415,000 1,995.423 12,031.2671 1,995,423 {2.026,1681 11,7111 15,0991 Total 6,168,703 15,0991 15,124.945 21.288.549 Analysis of net assets between funds - prior year Unrestricted funds 2022 Restricted Endowment funds funds 2022 2022 Total funds 2022 Tangible fixed assets Fixed asset Investments Investment property Current assets Creditors due within one year Creditors due in more than one year 3.021,079 3.248, 908 200 3,802.306 6,823,585 10,284,838 13.532,846 1,415,000 1.415,000 1.695.763 (1,921,300) (6, 120) 1,690,940 (f,921,300J (6, 120) 4,823 Totsl 6.032, 607 5,023 15.502,144 21.539,774 Page 43

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A ¢ompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 23. Reconciliation of net movement in funds to net cash flow from operating activities 2023 2022 Nel expenditure for the year las per Ststement of Financial Acliviliesl 1251,289} (290,883) Adjustments for: Depreciation charges {Gainslllosses on investments lincluding investment property) Dividends, interests and rents from investments Profit on the sale of fixed assets Increase in debtors Increase in creditors Pension scheme 382,206 297,326 1530,0451 11,9201 {139,2661 140,559 349.545 612,236 (480,896) (106,460) 533.235 478 Net cash provlded byllused Inl operating actlvities {102.3651 617.255 Analysls of cash and eash equlvalents 2023 2022 Cash in hand 1,563,883 1.368,489 Total cash and cash equivalents 1.563,883 1.368,489 25. Analysls of changes In net debt At1 September At31 2022 Cash flov￿ August 2023 Cash al bank and in hand 1,368,489 195,394 1,563,883 1,368,489 195.394 1,563,883 Page 44

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 26. Capital commltments 2023 2022 Contracted for but not provided in these flnancial statements Acquisition of tangible fixed assets 184,839 Page 45

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 27. Penslon commitments The school's employees belong lo tsvo pr￿nciPle pensions schemes., the Teachers. Pension Scheme England and Wales I the TPS'I for academic and related staff which is a defined benefit scheme and a defined contribution scheme with The Pensions Trust for non-teaching staff. In addition, the school conlribules lo the personal pension plans of ￿rtain employees. Teachers. Pension Scheme England and Wales I'the TPS'I The School participates in the Teachers. Pension Scheme I'the TPS'I for ils leaching staff. The pension charge for the year Includes contributions payable to the TPS of £639,714 12022." £560,801) and at the yearnd £71,50312022 - £65,6291 was accrued in respect of contributions lo this scheme. The TPS is an unfunded mullimployer defined benefits pension scheme governed by The Teachers. Pensions Regulations 2010 las amended) and The Teaehers, Pension Scheme Regulations 2014 las amended). Members contribute on a 'pay as you go" basis with contributions from members and the employer being credited lo the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. The employer contribution rale is sel by the Secretary of Stsle following scheme valuations undertaken by the Government Actuary's Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report, which was published in October 2023. Following the Mccloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period 1 April 2015 10 31 March 2022. The actuaries have assumed that members are likely lo choose the option that provides them with the greater benefits, and in preparing the 2020 valuation have valued the 'greater value, benefits for groups of relevant members. The valuation confirmed that the employer contribution rale for the TPS would increase from 23.6 /0 to 28.60/0 from 1 April 2024. Employers are also reqijired lo pay a scheme administration levy of 0.08°k giving a lolal employer contribution rale of 28.68 /0. The Pension Trust The School participates in the scheme. a mulli-employer scheme which provides benefits lo some 638 non-associaled participating employers The scheme is a defined benefit scheme in the UK. It is not Possible for the company to obtain sufficient information lo enable il to account for the scheme as a defined benefit scheme. Therefore, Il accounts for the scheme as a defined contribution scheme. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, sel out the framework for funding defined benefit occupation pension schemes in the UK. The scheme is classified as a 'lasl-man standing arrangement,. Therefore the company is potentially liable for other participating employers, obligations if those employers are unable lo meet their share of the scheme defi'cit following withdrawal from the scheme. Participating employers are legally required lo meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. A full actuarial valuation for the scheme was carried out al 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831 9m and a deficit of £31.6m To eliminate this funding shortfall, the Trustee has asked the participating employers lo pay additional contributions lo the scheme as follows.. Page 46

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 27. Pension commltments l¢ontlnuedl Delicit contributions From 1 April 2022 to 31 January 2025 £3,312,000 per annum Ipayable monlhlyl Unless a coneession has been agreed with the Trustee the term lo 31 January 2025 applies. Note that the scheme's previous valuation was carried OLtI with an effective dale of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131 5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions lo the scheme as follows.. Deficit contrlbutlons From 1 April 2019 to 30 September 2025 £11,243,000 per annum {payable monthly and increasing by 3,/0 each on 1 st April) The recovery plan contributions are allocated lo each participating employer in line with their eslimaled share of the Series 1 and Series 2 liabilities. Where the scheme is in deficit and where the company has agreed lo a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the nel present value of the deficit reduction contributions payable under the agreement that relates lo the deficit. The present value is calculated using the discount rate detailed In these disclosures. The unwinding of the discount rale is recognised as a finan￿ Cost. Pension commitments Icontlnuedl Present value of provision 31 Au9USt 31 August 2023 2022 31 August 2021 Present value of provision 54 705 Reconciliation of openlng and closing provisions 2023 2022 Provision at start of period Unwinding of the discount factor linteresl expense) Deficit contribution paid Remeasuremenls - impact of any change in assumptions Remeasurements - amendments lo the contribution schedule 10.836 371 14.7161 {64} 54, 705 370 (10,962) (478) (32, 739) Provision at the end of period 6,427 10,836 Page 47

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Income and expenditure impact 2023 2022 Interest expense Remeasuremenls- impact of any change in assumptions Remeasuremenls - amendments to the contribution schedule 371 310 (478) (32, 739) Costs recognised In Income and expendlture account 307 132,907) 31 August 2023 /0 per annum 31 August 2022 °A per annum 31 August 2021 °A per annum Rale of discount 6.04 4.46 0.63 The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. The pension charge for the year includes contributions payable to The Pension Trust scheme of £88,812 12022 £83,454) and at the year-end £6,681 12022 £11,854) was accrued in respect of contributions lo this scheme. 28. Operating lease commitments Al 31 August 2023 the Company had commitments lo make future minimum lease payments under non- Can￿lIable operating leases as follows.. 2023 2022 Not later than 1 year Later than 1 year and not later than 5 years 17,801 13.080 13.051 24,135 30.881 37, 186 The following lease payments have been recogni5ed as an expense in the Statement of financial activities. 2023 2022 Operating lease rentals 17.716 23,354 Page 48

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 At 31 August 2022 the lolal of the group's future minimum lease income receivable under non- cancellable operating leases was.. 2023 2022 Within 1 year Be￿een 1 and 5 years Greater than 5 years 33,517 18,400 75,517 38.600 43,817 80,117 127,434 162.534 29. Se¢urity Included within cash al bank are amounts of £178,244 12022 £181,043) held as a guarantee lo the Secretary of State lo cover all liabilities arising out of The Blue Coat School Birmingham Limiled's application lo be an accepted school under regulation 13411 Ilbl of the Teachers, Pensions Regulations 2010. 30. Financial instruments 2023 2022 Financial assets Financial assets measured at fair value through income and expenditure 14,650,519 14,947,846 Financial assets measured al fair value through income and expenditure comprise investments and investment properties. The Groups income, expense, gains and losses in respect of financial instruments are summarised below.. 2023 2022 Totsl investment income for financial assets measured al fair value through income and expenditure Net Ilossesllgains on financial assets measured al fair value through income and expenditure Impairment gains on financial assets measured al amortised cost 530.045 480,896 {297.3261 3,499 (612,236) 7,626 Page 49

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 31. Related porty tran$a¢tions During the year ended 31 August 2023, the value of payroll costs paid to close family members of Key Management Personnel, deemed related parties, was £86,81612022'. £81,643). The School Governors includes a parent, and grandparent of pupils currently at the school. During the year they were ch8rged School Fees on normal commercial terms. The balance oulslanding al the year end amounted to £920. Three members of the Senior Leadership Team are parents of pupils currently al the school. During the year, they were charged School Fees, discounted by the rale each staff member is eligible for per the terms of ltheir employment. The balance outstanding al the year end was £1,439. Page 50