2022-07-31-accounts

Royal Grammar School Gulldford Annual Report & Flnanclal Statements Forthe Year Ended 31st July 2022 Charlty Number 1177353 omp?ny Number 10874615

Contents Page Reference and Administrative Detalls Directors, Report Statement of Directors, Responsibilities The Values and Aims of the School Strategic Report 8.15 Financial Review, Future Plans and Risk Management 16-19 Report of the Independent Auditors 20-23 Statement of Financial Activities 24 8alance Sheet 25 C85h Flow Statement 26 Notes to the Financial Statements 27-45

Governors The Governors of the School, whtr are also directors of the company and trustees of the tharity are Ilsted below. Dlrectors of the ComEan Mrs S K Creedy MA A￿pOInted b￿. Board- co-opted Chairman of Governors Mr P G Peel FCA Chairman ol the Flnance and General Purposes Committee and Vice Chairman of Governors Resigned JLJIV 2022 Board- co-opted Mr CT Shorter CEng MIStructE FConsE FFB MT C D Barnett MA PGCE Board- co-opted Chairman of Education Committee and Vice Chairman of Governors Chairman of Nomlnatlons Committee Resi ned December 2021 Chairman of RGSG Prep Committee. Vice Chairman of Governors from December 2021 Board- co-opted Rev R L Cotton MA Dip Th Bishop of Guildford Mr D J Counsell f CA Professor SC Price MSC Pho FBTS ERT FHEA Dr L S K Linton MA M8 ChB MRCP Mr NEJ Vineall KC MA The Earl ol Onslow, High Steward of Guildford Mrl D Fairle BA Mrs H Styche-Patel BSC, MBA Mr SGS Gimson. Msc Def Tech Mr PW Fell BA FCA Mrs F E Carter BA PGCE Board- co-o ted oard- co-opted Staff Board - co-o Ex Officio ted Board co-opted Board- co-op.ted -j. CounJt _council Board- co-o ted RGSG Prep Parents. Association LPA Guildford Borou Board - co-opted Appointed March 2022 Mrs N Nelson-smllh BA Mrs M-L Logue MA h Council Resi8ned LPA March 2022 Board co-o ted March 2022 Prof Ml Humphreys MBE PhD LLB PFHEA Mrs K Atklnson BOS Mr T Lingard B5CI MINSTP University ol London Board- co.o ted Royal Grammar School Parents, A550ciation University of SLJrrey Prof H Treharne BSC MSC Pho SFHEA FBCS Mr M Windsor BA MA MSKS asic ACMA CGMA ointed Oecember 2021 Mr D Booth ointed Ma 2022 Members of the Finance and General Purposes Committee RGSG Prep Committee Members of the Education Committee (formerly the Academic Committee) Members of the Ntsmlnations Committee Board- co-o ted Board- co-ts ted Ex Officio OffScers The Headmaster Secretar & Treasurer The Head Lanesborou Drlm Cox BSC PhD Mrs CM Perceval 85¢ Mr T Freeman-Da

Re8lstered Offlce High Street Guildford SurreyGUI 38B Principal Bankers Nationol Westminster Bank PIC Guildford Commerci31 Office PO Box 1, 2nd Floor G3 2 Cathedr31 Hill Guildford Surrey GUI 3ZR Audltors & Tax Advisors Crowe U.K. LLP 55 Ludgate Hill London EC4M 7JW Principal Sollcltors Moore Barlow LLP The Oriel Sydenham Road Guildford SurreyGUI 3SR

Royal Grammar School Gulldford presents its annual report lincluding the Directors, Report and Strategic Reportl together with the audited account5 for the year ended 31st July 2022 and confirms that it complies with the requirements of the Companies Act 2006, Charities Act 2011 and the Charities Statement of Recommended Practice ISORPI 2019. DIRECTORS, REPORT THE STATUS OF THE SCHOOL Royal Grammar School Gulldford I'fhÈ School,, 'RGSG'I is a company registered by guarantee incorporated in England and Wales, company number 10874615. It is also a registered charlty, registered charity number 1177353. The company Royal Grammar School Guildford is a subsidiary of 1509 Groupi which is the sole shareholder of the School, company number 4104101 and charity number 1084866, The School is a single entity operating on two school sltes.. the Royal Grammar School Gullford IRGSGI educates boys aged 11-18 while RGSG Prep's pupils are aged 3-11. A5 a result of its special Telation5hip with the Cathedral (being the Choir School for the Cathedral) and with the Blshop of Guildlord nominating a Governor, Royal Gr8mm3r School Gulldford Is designated as 'a School with a Rellgious Chararter,. GOVERNANCE AND MANAGEMENT Governlng Bodv The School ha5 one Governin8 Body overseeing both age groups, Details of the members of the Governing Bodyi together with the School's officer$ and principal advisor5, are glven on pages 1-2. The Governing Body is self-appointing. New Governors are elected on the basis of nominatlons from the Nominations Committee based on the candidate's suitability for the vacancy. ThÈ Governors are aw8r@ of The Charity Governance Codè published in 2017 which sets out the principles and recommended practice for good governance within the sector. The Governors are satisfied that the School applie5 the prSnciples of the code withln Its current Governance arrangements. Recrultment and Tralnlng of Governors The Nominatlon5 Committee oversees the identiflcatlon of potentlal Governors and thelr Snductlon. New Governors are provided with the opporturiity to view the School, relevant background materlal about the School and the role of 8 charity trustee and an experienced Governor as a mentor during their first year of appointment. Opportunlties are provided lo attend School events that may glve Insi8ht Into the working of the School and appropriate tralning courses are offered to Governors. Partlcular attentlon Is given to the identification of suitable courses for new Governors. During the year Governors attended seminars to enable them to remain up to date. The Chalrman parliclpate5 in the Chairman of Governor5, Forum.

Or83nlsational Mana8ement The Board of Governors has established permanent commltteés.. th@ Finance 3nd Gener31 Purposes Commlttee to supervise the management and admlnistration of the Group and School's affairs,. the Education Committee to oversee curricular and educational matters,. the RGSG Prep Committee to oversee all matters pertaining to RGSG Prep,. and the Nomlnations Committee to review arrangements for the nomlnation of Dlrectors of the Company and appointment5 to the Board of Governors and its committees, as well as conduct an annual review of strategic issues. Panels of Governors are selected to form disclplinary and appeals commlttee5 as required. The Chairs of these Committees in the year were as follows.. Education Committee Mr C Barnett- to December 2021 Mr M Wind50r- from January 2022 Rev RL Cotton MrPG Peel Mr C Barnett- to December 2021 Rev RL Cotton- from December 2021 RGSG Prep Committee F5nance and General Purposes Committee Nominations Committee The Chief Operatin8 Officer over5Èe5 the gemeral bu5ine55 operations of the School and in particular focuses on long-term buildlng pro8ramm@s, internatian31 developments and wider business opportunitie5, wlth the day to day runnin8 of the School delegated to the Heads and the Bursar. The Heads and Bursar are in turn supported by their Senior Management Teams and tO8ether these groups are the key mana8ement personnel. Rernuneralion is set by the Board, with the objectlve of provldln8 a compelltive package to attract and relain the best possSble staff. The appropriateness and the relevance of remuneration 15 reviewed anfjually, including reference to benchmarking data of other similar independent Schools to ensLJre that the School rémain5 sensltive to the broader issues of pay and employment conditions elsewhere. The School alms to recrult the best posslble staff In all areas and from the widest pool of talent. Dellvery of the School's Charitable vlsion and purpose is primarily dependent on key management personnel and staff costs are the largest single element of charitable expenditure. Group Structure and Relatlonshlps 1509 Group 15 the holding Company which retains control of Royal Gramrnar School Guildford and all other subsldiarles. 1509 Group is the 501e votlng member of The Royal Grammar School, Guildford Foundation I'the Foundation'l, which work5 to prowote, provide for and raise funds for the School. The Foundation 15 3 charitable company Icompany number 4232306 and charlty number 10899551 and is also a subsidiary of 1509 Group. Considerlng the financlal and non.financlal benefit provided by the Foundation, the School has agreed to provide operational resource5 for the Foundation free of charge. All companies are re8lStèred in England and Wale5. All companie5 report independently but thèir figure5 are Consolidated into those of 1509 Group. En8a8ement wlth Employees and Employee Interests Takin Care of our eo The directors reco8nise the enormous tontributlon rnade by all staff and the Importance of valulng and developing staff. The School re5erve5 an extensive budget lor training and dèvelopment and staff are encouraged to consider their personal and professional development. The well-being of staff is of paramount

importance ?nd mechanism5 arÈ place to support staff and collea6ues. This ran6es from regular catch up sessions wlth line mana8ers, staff social events and school wide events, to support from the school counsellor, school nurse and head of human resourcès. Communication Regular Updates, meetlngs and brleflngs are provlded to staff on the day to day operatlons of the organlsation as well as sharing high level changes within the OTganisation as these arise. Financial updates are provided to staff so they are kept briefed on the financial stability of the organisation or ri5k5 that may be facing the School or the sector. Staff observers are invited to attend the full board of directors, meetings, so they are 8ware of the hS8h level ssues being discussed. Strategy groups meet regularly to determine the lulure direction of a range of areas within the School and each group contains a mim of staff who have volunteered to be a rrember of each 8roup. Beneflts Staff are ellglble for a range of employee beneflts including employer contributions to pensions and healthcare. Attention is paid t¢ ensure that packages offered remain competitive 3g3in5t thè markèt, Incentive schemes are t)ot considered appropriate to our school environment and ethos, but success is shared and genuinely celebrated across the or8anisation, which operate5 in a Supportive and collegiate manner to ensure that Staff feel valued. Trainin and Develo ment There are marty opportunities for staff to develop their skllls through tralnSng courses or taklng on dSfferent roles within the organisation. Several staff have been trained 35 coaches and now coach and develop others. Staff have the opportunSty to apply lor additlonal responslbllities within the organisation and via our outreach programme and, on many oc¢3glons, senior roles Bre fSlled internally rather than bringlng in external candldates. In gener31, staff who leave go on to more senlor roles within other organlsation5. Health 3nd Safet There is a health and safety ptsllcy group which covers the whole organisation, with separate cornmittees for each site. These Committees are formed of a range of staff based at each site and focus ON the immedlate nteds of that site. All staff are rralned in the key elements of health and safety and understand that everyone has part to play in this area. A full time health and safety manager ensures that adeqLJate time and resource is devoted to this area. Dlverslt and Inclusion The directors seek to recrult and retain the best staff they can and encourage applications from a5 wide a ran8@ Of candidates as possible. We welcome all employees regardless of their age, Bender, faith, disability, ethnic or racial origin, sexual orientation or gender identity. We take care to ensure that our employment policies and practices are non-discriminatory and that all appointments ale made solely on the basls of merit. As a result of an independent review of our recruitment pro¢e55, a full.time recruitment manager ha5 been appointed and other recommendations Implemented. It is part of our ethos that all our people have a fundamental right to respect and dignity in the workplace. We actlvely promote these behavioLSrs and do not tolerate disrespect or discrimination any form. We continually review how we can best promote and advance a culture In whlch all staff feel comfortable being themselves in the workplace and to ensure a diverse workforce is recruited for the benefit of the pupi15 and the wider organlsation. A workin8 party meets regularly to seek to flsrther Improve the School's performance In thls area on an on8oin8 basis. All staff and Governors contlnue to receive dlver5Ity and inclusion trainlng.

Stakeholdèr Relations Royal Grammar School Guildford has a wide community of stakeholders including pupils, employees, parents of pupils, directors, suppllers and our local community. As further outlined in the StrJteEiC Reporr, a wlde range of activities is undertaken by pupils and staff as part of the local and extended community. The dlrectors alm for the or8anisation to be run In the best posslble way and strict adherence to regulatory and legal requirements Is of paramount importance. The School is inspected by the Independent Schools Inspectorate and this covers compliance with a range Of regulatory matters as well as the educational provislon for pupils. The flnanclal operatlons of the School ère Independently audlted each year and other audit5 aff d regulatory in5pection5 happen on a regular basis. There is a wide range of policies for staff which set out what is expected In respect of Health and Safety, GDPR, Safeguarding, anti-bribery and corruption through to whistle blowing and a staff code of Conduct. The IT systems are carefully managed to ensure the safety and security of all data. Staff use devlces Issued bv the orBanisation and training and security measures are regularly reviewed and updated. General Dat Protection Regulations are complled wlth and any new systems or associated processes are subject to 3 rlsk assessment to ensure they are compliant with the existing sy5tem5. Staff receive training and updates in this area. STATEMENT OF DIAEcfoRS' RESPONSIBILITIES The DSrect¢r5 are respon51ble for preparlng the Directors, Annual Report and the financial statements In accordance with applicable law and United Klngdom Genèrally Accepted Accounting Practice (United Kingdom Accounting Slandardsl. The law applicable to charities in England and Wale5 reqLJires the charity to prepare financial statements for each financial ye3r which give a true and fair view ol the state of affalrs ol the charity and of the incoming resources and application of resources of the charity for that period. In preparlng these fSnanclal statements, the Directors are required to.. Select suitable accountlng policies 8nd then apply them conslstentlv,. observe the methods and principles in the Charities SORP,. • make judgments and estimates that are reasonable and prudent,. state whether applicable accountin8 Standards have been followed, subject to any rnaterial departurès disc105ed and explained in the financi31 statements,. prepare the financial statements on the 80Sng concern basls unless It Ss inapproprlate tts presume that the charity will continue in business. The charlty Is responsible for keepln8 adeouate accountln8 records that are sufflcient to show and explaln the charity's transactions, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statement5 comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulatlons 2008 and the provlslons of the charity's constltution. It Is also responsible for s3fegLJarding the assets of the charlty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. THE VALUES AND AIMS OF THE SCHOOL The object of the School, as described in Its charlty commisslon scheme and the companrfs objects, Is the provlslon in or near Guildford of elther a day school or a day and boarding school for boys, and ancillary thereto. the advancement of education. A preparatory school may lje maintained at the discretion of the charitv.

The current School priorities are.. Collaboratlon,. Diversity and Inclusion,. Student Experlence In pur5UIt of these aims, RGSG holds and promotes the lollowlng values.. Inclusivity.. we remain loyal to our foundin8 princlples to educate bright local student5, irre5PèCtive of background or financial circumstances, and we inherently believe in establishing ? culture of diversity and a¢cept8nce, and in educating our students in a welcomlng, tolerant communSty where each IndlvSdual Is valued and enjoys a deep sense of belonging. Scholarship., we encourage the growth ol intellectual curiosity, inclependence, creatlvbty, innovatlon and hablts of learning within a scholarly community through insplrational subject specialist5 who provoke ènd Stretch the Students, minds and inculcate a lifelonE love of learning. Integrity.. we promote the development of self-discipllne and responslbility, splrituality and a personal moral code, and cultlv3te an ethos where quallties of decency, honesty, courtesy, humility and good humour are celebrated, Respect.. we nurture an atmosphere of mutual respect between all members of our community, and foster self-respect and sell-esteem in terms of physical health. emotion81 rnaturity Bnd personal well-being, while establishin8 lastin8 friendships in a positive, happy environrnenl. Courage.. we develop leadership, tearnwork, resilience and life skills through a diverse range trf activities where all students, règardless tsf their talents and attribute5, are encouraged to challenge themselves, take appropriate risk5 and work hard to fulfil their potential. Collaboration- we work closely with others for mutual enrichment, and encourage a spirit of g@ner05ity and service, a Sense of perspective, and a firm belief that we can work in partnership with others, locally and internatlonally, to make a dlfference and have a p051tive impact on society. The Directors aim to provide public benef1t and are mindful of the requirements of the Charitie5 Act 2011. The Directors have monitored closely the guidance on public benefit produced by the Charities Commlssion together with Its supplementary guldance On fee-char8in8. STRATEGIESTO ACHIEVE THE AIMS OF THE SCHOOL The Direttors, objectlves for the School are established to deliver a wide-ranging, high quality education to student5 from Guildford and the surrounding area. The School is focused on achlevin8 the School's main objective and has developed both long term and 5hort-term plans to achleve this. Governor5 monitor the School's progress by regularly reviewing the academic and extra- curricular work. This is achieved through the Education Commiltee and the RGSG Prep Committee alongslde a programme of Governor vlslts. All pijpils are now requlred to have a specllied rnobile personal computer to support quality remote and In-class teaching and learning. The School tontinues to evolve 115 Strategy around use of devlces. to seek continuou5 improvements and achieve the best educational outcomes and to mitigate against future disturbances.

STRATÉGIC REPORT ACHIEVEMENTS AND PERFORMANCE Revlew of achlevement$ and performance for the year The School was pleased to welcome the Independent Schools Inspectorate to Royal Grammar School Guildford Senior and Prep- In February 2022 and they spoke In Elowing terms about all aspects of school life. The School was awarded "Excellent" the highest possible rating, in 8very category. The report celebrated the quality of our boy5, academlc and other achievement5, as well as their personal development. In particular, the inspectors ¢8plured the essence and spirlt of the School whlch makes us such a close-knit and special community where the richnes5 of opportunity, as well as the tulturÈ of humility and decency. tolerance and mutual respect are noted as defining qualities. The report can be accessed in full, from both the School and the ISI web51te. After an extended period of dlsruptlon due to the pandemlc, we enjoyed a return to more normal routines both In terms of teaching and the co.currlcular Ilfe of the School. At the Senlor school, folluwln6 two years ol Centre Assessed Grades and Teacher Assessed Grades. students sat formal public examinations for the first time since 2019. The School achieved another outstanding set of A Level re5uIt5'. the most common grade achieved by RGSG slvdents was the A. with 50.1% of all grades being the top, gold-star sland3rd. 80.9Q/a of all grades- or In total 334 8rades- were awarded at A. or A. From a cohort of 129 students, 42 boys achieved 3 or more A s.. an incredible achievement in traditionally robust, rigorous subjects. At GCSE, the most commc)n grade achieved by our students was the gold-standard grade 9.. in total 874 grade 9s were achieved. 56% of all grades. In addition, 386 grade 85 were also secured by this impressive cohort.. 80°A of grades were at grade 9 or 8. 78 student5 achieved ten or more grade 8 and 95,, 30 boys secured 10 or more grade 9$. RGSG students contlnued to secure places on the most competStive courses at the leading universitles In the country,. 95% of all offers held to UK institutions were to Russell Group Universities or fime5 Top 20 institutions. Of a talented cohort, 14 students recelved offers from Cambridge and Oxford Unlversitles,. in the18st 10 years, RGSG boy5 have received Iu51 under 300 offers from Oxford and Clmbrldge Unlver51tle5. Cambrldge. Exeter, Durham and Bath havè beèn In the top five every year lor the last six years in terms ol the number of RGSG boys accepting places,. Exeter was the most popular university destination, closely followed by Bristol and Durham. Again thls year, RGSG boys were accepted to study a wide range of different courses at universitv ranging from Modern Languages to Mediciff e, Phy51CS to PPE and EEonomic5 to Enginèerlng. Sciences as well as businesslmanagement/finance/economics and also engineering remained the most popular choices. RGSG Prep students were awarded 9 scholarships for their chosen senior schools, including Music, Drama, Sport and Academic scholarships. A further IS scholarships were offered but dec5ined. IT) total 18 students receSved scholarship offers. Other academic achievements included bronze, silver or gold awards for 47 pupils In the lur)ior Maths Challenge and awards to 10 puplls from the Prirnary Maths Challenge bonus round. A full and varied co-curricular programme provided the springboard for diverse achievement and experience, 85 well as the further nurturing of the Learnin8 Habits and School Values which are at the heart of school life. The following provide5 a very brief and selective overview.. Charitable illitiatives and volunteering opptsrtunltles abounded as RGSG boys of all ages and staff gave PT3Ctlcal, hands.on help and support to a number ol local. environmental and community initiatives. £25,000 was raised for the nominated School charities during the year, 85 the School ctsntlnued to adhere to its value ol service to make a difference to others, with fundralslng from small scale to grand s¢ale- cake and doughnut 53les, home clothes days and House charlty events and Harvest food bank drives.

The School contlnued to nurture and establish partnerships with local partners and those further afield to share our expert15e from an academic, co-curricular and philanthropic perspective. Our Masterclass programme, our Tudor project and our Strin8s Scheme were just strme of the events which stretched and challenged local puplls. Acadetnic, advèntLJrous, cultur313nd Sporting trips made a welcome return after the pandemic, 35 the School contlnued to look for every opportunity to support learning Inside and out5Ide the classroom. A signiflcant number of boys achieved national or internation315POrting recognition from the malnstream sports to more minor sports. The School continued to impress on a challenging circult in the major sports rugby, hockey, and cricket- as well as enjoying notable success in fencing, shooting, skiing and sailing, among others. From the Arts, P815pective, concerts, plays and exhibltions of breath-takillg quality were experienced bv parents, residents and the wider communlty.. both staged at School as well as 3t a number ol local and national venues. The Chorlsters continued to perform wonderfully ot Evenson8 and Sunday services alongside additional performances, including with world.renowned conductor John Rutter. RGSG boys enjoyed national profile in the Model United Nations, Young Enterprise, Science Olympiads, debating, national essay and engineering competitions. Of partlcular note were our Young Enterprise CompanyShower5martwho, after being crowned Best Overall Company in the Young Enterprise National South-Easl region, went on to participate In the UK flna1s. ubllc bene The main beneficiaries of the School's work are boys aged 3 to 18 attending the School. Governors have give due consideration to the Charities Commisslon guidznce on Public Benefit under Charitles Act 2011 when considering activities in this area. Governors wlsh the School's edu¢atlon to be wldely avallable and so bursary applicatlons are welcomed from famS1ies who could not otherwSse afford to send thelr son to the School. Support Is given to cover tjp to 100% of fees. In certain circumstances support for lunches, travel costs, course and examination fees is also considered on top of this. In the year, 73 boys bènefitted from bursary funding of over £1 million. In addltion to bur5arles, the School gives opportunltles to pupils of local schools to share the School's expertise, facillties and resources, and contributes widely to the local community in many ways. The School is also involved in developing relatlOn5hips and partner5hip5 With an ever widenin8 range of educational organisations. The School is an associate member of the local LearnlnÉ Partners ILPI Multi Atademy Trust IMATI. The Headmaster Df RGSG is an LP Trustee, an RGSG Deputy Head is a member of the Guildford County School Governing Board, the RGSG Bursar a member of Sandfield Primary School Governing Board. the RGSG HR Manager a member of L05eley Fields Primary School Governing Board and an Assistant Head a member ol the Kings College Governing Board. Some RGSG staff are deployed to teach In LP schools.. Throughout the year RGSG staff provided Physics tuition for Yll Kings College pupils, Physic5 tuition for A-Level Fullbrook School pupils and French lessons for Y5&6 Sandfie1d Prlmary School pupils, Additlonally, during the Summer Term, Chem55try revision cla55e5 were provided lor Y13 Fullbrook School Pupils. The Enquiring Teacher Partnership, which facilitates teachers engagln8 in action research in thelr schoo15, Is a fla8shlp partnershlp programme and is lointly led and adminlstrated with the LP schoo15 and Epsom College. The RGSG oversaw the publication of the 2021 "Enquirlng Schools.. A Journal of Evidence-Based Enquiry" This annual record is a wonderful publicatlon bringing together all of the research from last academic year. Addltionally. the RGSG hosted the end-of-

prtsgramme celebration dinner where participants presented their tindin85 to an audience of headteachers, governor5 and trustees. As part of our partnership with LP, the School continued to 5UPPOrt specifically a local Secondary School (Kings College). An RGSG Assistant Head continued to act as the Governor with specific responslbllity for Safeguardin@. The RGSG Physlcs department contlnued to support the Klngs triple Science pupils by delivery of Physics lessons and revision classes. Pleosingly we were able to resume the Y9 Problem Solving Maths sessions for Kings pupi15 delivered by our Sixth Form via the P8 programme. The RGSG Head of Hlstory and a teacher of English, both visited George Abbot School to deliver a CPD session regardinB challenging and stretching more able students. Delegates In attendance included trainee teachers from across Surrey and Hampshire. Discussion Included difforentiating work towards the higher end of the ability spectrum, making work more engaging through academia and use of the Harkness di5tLIS5i0n method at the RGSG and how it can be easilv transferred to any classroom. Following the success of last year, an RGSG Physics reacher supported Science events ai LP Primary schools (Loseley Fields, Boxgrove and Guildford Grovel by dellvering practical Science enrichment activities. Working with the Headteacher at Sandfield we establlshed a mentoring scheme wlth 8 of our Yll pupils 5UPPOrtirig 8 Sandfield Y6 pupi15. The programme wa5 designed by the Sandfield Headteacher and the RGSG pupils were given training In mentorlng as well as safeguardlng. The RGSG pupi15 Volunteered during their lunchtimes and independently walked to SandfSeld - the scheme featured in the Sandfield newsletter. Working with the Northmead lunlor School Headteacher, we establlshed a reading mentoring scheme with four of our Y9 puplls travelllng to Northmead to support a small 8roup of thélr target boys in Y516 to help with their reading. The School15 a member of the Guildford 11-19 Partnershlp, which mJlnly exists to help pupils most at risk ol dropping out of school by offering alternative educarional provislon. It also provides links to other educational providers and sharing of provision. In the past year the RGSG Assistant Head Partnerships chaired the Steering Group. RGSG continued to lead an Innovative project to enable any pupil at member schoo15 to attend 3 joint programme of academic enrichment events IIMAGI. In 2021-22 we ran 12 events at 7 different locatlons with a total of over 200 students attendin8 from 9 dlfferent schools. lwww.ima .educatlonl. Several Royal Grammar School Gulldford Staff act as Bovernors or trustee5 at other schools and organisatlons.. Learning Partners MAT ILPI - Board Trustee Merchant Taylors, School Governor Ilndep.) Bourne Educatlon Trust MAT- Board Trustee Aldro School Governor IINdep.I Guildford County School Community Governor ILPI Sandfield School, Community- Governor ILPI Hampton Wick School, Kingston - Governor Kings College - Governor, Safeguarding ILPI Loseley Fields- Prlmary School Governor, Chalr Of the Resources committee, Sèfe8uardlng ILPI R3leigh School, West Hor51ey- H&S Governor

Pond Meadow School, Bellfields- Children & Learning comrnittee Broadwater School - Finance & Resources Governor Heathlands School, Hounslow- Governor Twickenham School, Whitton - Governor Busbridge Junior School - Parent Governor Twickenham Prep School- Governor, Educatlon and PlannSng comrnlttee Ilndep.) Walsh C of E primary school, Ash Governor Southern Pro Musica - Educational Outre8ch Off icer The School a150 SUPPOrt5 $18nificant Outreach programmes for Primary and sécondary pupils. For example.. The RGSG Strln8s Scheme teaches Bll year 4 puplls in three Gulldford prlmary schools (St Thomas,, Sandfield and BoxErovel to play the violin or cello through weekly session5 over the course of a year. Over 200 pupils now take part in the scheme each week. Due to covid restrictions, the usual concerts at RGSG were not ptsssible, but school performances were and were also recorded for on-llne sharing with p3reNt5. Thi$ scheme is only possible due to the generous support of our prlncipal donors.. The Inveslec International Music Festival IIIMFI, Community Foundation for Surrey ICFSI. Southern Pro Musica Orchestra and Mila Charity, The '5trictly Strin85 Orchestra, hosted at the RGSG allows approximately 30 8raduates of the string Scheme5 to continue to play in an orchestra to complement their individual tuition. This orchestra is generously funded by Southern Pro Musica and The Mlla Trust. The orchestra Continued with Social d15tancin8 and performed a concert at the end of the year live for parents. Pleasingly, the RGSG Prlmary Masterclasses were possible again and we hosted c.120 Y6 pupils from over 20 different Primary schools for le550ns on four Saturday mornings in September and October. Students picked from 3 sulte of six 'strands' Creative Arts (Drama, Music, Art, Writingl., Design Technologyi Humanities (History, Politics, Geography, REI., Mathematics., MFL (Arablc, Chinese, Russlan, lapanesel,. and Science IBio108y, Chemistry, Physics, Forensicsl. We receive wondorful feedback from these 5e55ions which are designed to provide inspirational, stretching and enrichlng lessons to boost confidence and aid transitlon to secondary schotsl. Comment5 InclLJded.. "Sveryone wa5 $0 worm ond welcoming, thls is o fonta5tlc opporturtltyfor my son. He got to do so much. m(rking biodegraduble plostic and dissecting tt heort wos definltely o highliyht but all the teachers made lessons so much fun, Yhank you so much to you and your teom for 5t7crificing yot4r St7turdoy for which, Wilf & Toby were full of prt71se for your Mustercloss they attended thi5 morning. fhey reolly gnjoyed the gritire RGSG experience, ond they are both looking forworrj to next week's sessions." The Prlmary Tudor Experlence wa5 Still disrupted by Covid restrictlons in the 2021.22 year as some visiting schools were still not running trips. However, we did host 2-3 schools who study the Tud¢rs In Y5. The alm Is to bulld on thelr knowledge of the Tudor period and develop a greater Ljnderstanding of Ilfe 3t that tlme. PLJpils learn about the hlstory of the school in Tudor times and enjoy sessions on Tudor art. music and heraldry and finish by making a movie of their day. Our Sixth Form pupils are able to volunteer to support and to serve the local community via a number of different avenues.. Charity fundraising for local natlonal and Internatlonal charities. Volunteering for conservation work and visits to local care homes,. DOE volunteering., Period 8 actlvities and General Studies activities. In the latter two categories, our Sixth Form groups: Established and ran the chess Club at Sandfield Primary,. Delivered a Maths club, a chess club anLI Hockey club at Holy Trinity Primary School,. Delivered Y9 Maths problem solving for Kbngs pupils-, and vlslted Abbot5 Hospital residents to record oral hlstories.

At secondary school level, pupils from other local schoals are invited to attend various events each year,. Although the offering was still reduced this year, other schools were invited to attend lectures or events, for example.. The RGSG Stholarship Conference, Classics Society lertures and a robotlCS talk,. the Careers Seminars, drama and music performances, author visits etc. Academic support was also given to pupils from other schools (such as Fullbrook School, George Abbot School, Guildford County Schooll for preparation with Oxbridge and medical school interviews as well as more general university application advice by a range of departments. A representative from George Abbot school was co-ordinatlng on tjehalf of the wider academy trust and said "RGSG wos o huge support to some of our Eorly Entry candidates.. Mony thanks for your support and working with Suildford state schools. At an international level, the Royal Grammar School, worklng in partnership with Tormead School. has close links wlth schoo15 in Besisahar, Nepal. Unfortunately, no exchanges were P055ible in the 2021-2022 year but, as soon as travel restrictions were lifted, plans were made for pupil expeditlons in the comin8 years. Durlng the 2021-22 year we also established some Ilnks wlth 3 Couple of Refugee charltles. We were able to provide facilitie5 to h05t two new events.. On Tuesdays throughout the summer holiday5, the Sixth Form Centre and quad hosted the Gukraine organisation for a drop in Ukralnian Hub. Each session saw about 100 people- mainly women and children - for a variety of actlvities from artlcraft lo chess to nail/beauty to table tennis and, of course, shared food, drinks and chat. The final Tuesday had a party atmosphere with live music, balloons and take,. The Mayor and Mayoress IDenis and Mary Booth) attended as 8uests of honour. Oebra of Gukraine commented: "We cannot Ihonk you ond RGSG enou9h for the omazing support you hove given ro Gukroine ond the Ukralnion community in Guildford / surrounding villuges. Without you this woulrj not hove been possible. The finol purty WOS É7mozing, but 50 too were egch of the Tue5duys in their own way., We also hosted the '8ig Leaf, charity to run an informal evening of football. Big Leaf work with 16-25 year-old displaced people from any country, Local atcountancy flrm Aristar Accounting Sponsored the event and their staff and some RGSG puplls participated. Other outreach included.. Art: During the Lent term and the Easter Holiday, the Art department worked with Stamford Green Primary school students lo deslgn and palnl a mural.. '1 WOLsld like lo thank you for the art resources that you donated to Stamford Green Primary school and for sourcing cover for Ruth lo attend a school trip with us as part of our exciting mural project for dlsadvantaged children. The children are very lucky to have Ruth on board and we appreciate your generosity. Art co-ordinator at Stamford Green" Heritage Open Day., is hosted annually, when the tudor Old Building and chained library is open to members of the public. Library: As part of Guildford Book Festival, RGSG hosted author Chris Wakling to speak to RGSG pupils and a150 pupi15 from nearby Sandfield school. Separately, the School librarian vi51ted Guildford Grove school to provide advice on options for developing their library space. 12

Model Unlted Natlons., The first 'in-person' Model United Nations conference slnce 2019 was hosted at the school in November 2021, with over ISO dele8ates from g schools. Careers-over 60 pupils frorn St john the Baptist,. St Peter's., St Catherine's-, Heathside,. George Abbot,. Collingwood,. Tormead., Guildford County attended our 6th form Careers in Engineering Seminar. Careers.. On Friday 29 April RGSG opened its doors for the annual Careers Convention and welcomed over 250 people to the event. The School invited seven other local schools (Guildford County, George Abbot, King's College, Chrlsl's College, 5t Peter's, GHS and Tormeadl. After missing a year, students were extremely grateful to have the opportunity to dlscuss career p05sibilltles fate-to-face. SECTION 172111 STATEMENT The Director5 of a Company must act In accordance with a set of gener31 duties. These dutles are detailed in in section 172111 of the U.K. Companies Art 2006, which is summarised as follows with reference to Charltable Companles 'A Dlrector of a Company must act in the way helshe considers, in good f21th, would be most likely to promote the success of the Company in achieving its charitable purp05e5, and in doing so have regard (amongst other maltersl to.. l. The likely tonsequences of any declslon in the long term 2. The interests of the Company's employees 3. The need to foster the Company's business relatlonships with suppliers, beneficiarie5 and others 4. The impact of the Company's operations on the community and the environment 5. The deslrabilltv Df the Company ma1ntainlng a reputatlon for high standards of business conduct, and 6. The need to art fairly as between benefSciaries of the Companv Beneficiaries The benèficiaries of the organisation are the pupils and the Directors aim to ensure they are provided with the hlghest quality of education available, In terms of academic, co-curricular and pastoral input. Our alms and performance in this area are further detailed under the headings The value5 and aims of the School and achlevements and performance, above. All staff, both teachers and support staff, work hard to achieve the School's aims in delivering the highest Possible standard of education to the pupils. 11 is the hard work, dedication and professlonallsm of these staff that achieve the outcomes for the pupils. The recruitm@nt, retention, development and welfare of staff is crucial to the successful running of the organisation and is considered, by the directors, to be of great importance. Further detail is provided under Organlsatlonal Management in the Directors, report CommLJnlt and EnvSronment The School is at the heart of the Guildford community and many activities take place that involve the local and wSder community. This ranges from pupil and staff fundraisin6 and participation in events 13

to the sharing of resources with Others. Extensive details on thls are provided Sn the Publlc beneflt section of the Strategic Report. Decision makin risk mana ement nd overnance and erforrnance oversi ht The full board of director5 meet5 three times a year with additional committee meetings taking place each term. As outlined under Or8anlsatlonal Management in the Directors, report, each committee has a specific focus, but considers the overall impact of decisions on the wider organisation. C Iture and Values The alms and value5 of the school are embedded within the curriculum to form a way of life for both pupils and staff. ENERGY AND EMISSIONS REPORT Energy Consumption Streamllned Energy & Carbon Reportin8 ISECRI1s a legislative reporting requirement in the Directors, Report for Year Ends on or after 31 March 2020. It mandate5 that all large companies must report on their operational energy Consurllption and assoclated emlssSons. A high level breakdown of ener8y used, and emisslons Benerated by Royal Grammar School Guildford Is included in the table below. 2021-22 1,854,861 2,897,813 1,637,475 n/a n/a nla 333,875 530,763 301,082 334 2020-21 531 2019-20 301 ectricity 2021-22 984,477 1,004.177 1,039,759 n/a nla n/a 190,378 213,217 242.409 190 2020-21 213 2019-20 242 115POrt 2021.22 73,368 86,800 108,173 49,240 56,000 68,900 17,608 20,559 18 21 26 2020-21 2019-20 tal 2021-22 2,912,715 3,988,790 2,785,407 49,240 56,000 68,900 541,861 764,540 569,515 542 2020-21 765 2019-20 570 UK energy use covers all educational and ancillary activities across the School. AssDciated Greenhouse gases have been calculated usin@ 2022 conversion factors advised by the UK Government Department for Business, Energy and Industrial Strategv. 14

Intenslty Metrlc An Intensity metric gives an indicator of carbon performance calculated per unil of an operational driver of the Schools activitles. For Royal Grammar School Gulldford w@ have used the average number of pupils over the year as the relevant operationèl driver. In 2021122 1,289 puplls accounted for emlsslons of on average 542 kgCo2e each120201211,288 puplls accounted for emlsslons of on average 765 kgCo2e each). The intensity metric for 2020121 appears significantly higher than that reported for 19120 and 21122 and this is largely driven by gas consumption. During thls year, school buildings remained open through the January to M3rch lockdown for children of essential workèrs nd. from March 21 for all pupils. Classroom windows were kept open, to improve ventilation, for much of this tlme resulting IN Significant heatloss and consequently ga5 consumption. A return to more norm31 operating conditions was seen in 2021-22. Continuing our rolling programme of maintenance and refurbishment, the School took the following energy efficient actions during the year.. We continued our roll out of energy efficient LED fittin85 across all 51tes Ongoing replacement of single glazed windows with double glazed unlts Continued replacement of internal and external doors to reduce heat Ioss Boilers replaced with more energy efficient models Washroom areas which have been refurbished have had mixer taps with improved flow regulation and effective therm05tatic mlxing valves Installed Durin6 refurbishment works, use of skip5 is minimised in favour of appropriate recycling and use of registered waste carrlers Additionallv A study has been carried out with the University of Surrey to monitor C02 levels within the buildings While plannlng for future building enhancements and developments, sustalnabilitv considerations have been a hlgh prioritv Food waste is collected separately and the volume closely monitored by our catering Contractors General and recycling waste is carefully monitored with placement and style of receptacles recently reviewed Further electric car chargin8 points have been insta51ed

FINANCIAL REVIEW Results for the year The operation of the School during the yearto 31st lul¥ 2022 generated net Incorne of £lrn. cons15tent with net income 8enerated in the prior year12021'. Elm). Offsetting this result is an actuarial loss, now quantifled and provided for, of withdrawal from the Surrey County Council Superannuatlon Fund of £l.Im12021.. unrealised actuarial g3in £0.9ml, resulting in an overall £56k Ljsage of fLJnds in the vear12021.' £1.9m generaledl. The School's net income and capital inflow loralled £1.4m from £25.2m total income 12021.. £2.2m from £23.2ml. The Sthool generated a cash surplus which was sufficient to cover planned annual investment in its facilities, servicing of loan financing of major capital investment projects and increase the School's cash balance at year end. Thls further strengthened the School's ability to ensure that costs can be met as they fall due. The value of fee remlssion5 awarded varles from year to year, dependin8 on prevailin8 clrcumstances and the needs of each cohort. While non means-tested remissions are being managed downwards, over tSme the value of means-tesled rem155ions awarded is growln&, In1Sne with the School's ambltlon for its education to be as widely accessible as possible. Total income includes investment income ¢f £4k 12021.. £lkl and also £340K 12021.. £380kl of donations. The 2021.22 school year saw a welcome return to unSnterrupted in-person, on-slte learnlng. A full programrme of 5POrting activities and clubs could resume and, from the Trinity term onwards, overseas trips could once more be planned. With the return to on-site Searning and an intrea5ed range of ttivities, expenditure on resource5 and running of the school buildings returned to pre-pandemic levels. Wlth effect from 31st August 2021, the School ha5 elected to withdraw from the Surrey County Council Superannuation Fund and finalise its pension liability, in respect of this scheme, as at that date. A final valuation invoice for £1.7m, which is favourable to previous estimates, has been received from the Fund and Ss fully provided for In these accounts. With the ongoing war in Ukraine, we continue to see challenges around energy prices, rising interest rates, inflation and public finances and expect the economic outlook to remain unpredictable and turbulent for the immediate future. Despite thi5 Outlook, demand for the School remains high and it is believed likely that pupil numbers will be maintainèd in the foreseeable future and collection of fee incorre continues to be positive. The Director5 have considered the irllpact of these factors on the School's operating model and financial position and this is further d@tailed In the 'ResÈrves level and pollcy. and financial viability, section, below. Reserves level and pollcyj and flnanclal vlablllty. The vast majority of the School's funds are held in the form of the bulldings and physical èssets of the School. At year end the School reports total funds of £39.Im12021.' £39. Im) which includes £170k Of unspent restricted income12021.' £187kl. Net current assets- broadly equlvalent to liquid reserves- of £3.8m were held at the end of the year12021.. £3.8ml The School seeks to carry sufflcient but not significant levels of free reserves for contingency purposes. Throughout the year the level of liquid reserves was adequate lo meet commitments as they fell due. without recourse to additional borrowing. Free reserves as at 31 July 2022 equalled £3m12020121 £4.8ml.

We have prepared a number of scenarios that consider our cash posltlon, sources of Income and planned expenditure. Oemand for places at the School remains strong. Nonetheless, these scenarios consider reduced pupS1 numbers, delayed fee payment and potential bad debts, cost Inflation and Increased interest rates. Sen51tivity around these assumption5 has also been considered In Dur forecastlng. The scenarlos a150 can5ider the terms and conditions of the existing bank facilities. Results of this cash flow and sen51tivity analysis indicate that the cash reserves of the charity are sufficient to meet the charity's obllgatlons as they fall due. Having regard to the above, the dlrectors belleve It appropriate to adopt the golng concern b3sSs of accountSng In preparing the financial statements. Investment pollcy, objectlves and performance The School reviews Its investment pollcy annually and adapts It if appropriate. The pollcy is based on the following principle5: Prudent investment for income and growth based on the two principles of diversity and reductlon of rI5k Speculative 2nd very high risk investments should be avoided Investments will be made in appropriate Common Inve5trNent Funds ICIFS) which have an established market and are readily realisable Account must be taken of the School's charitable status Appropriate advice should be sought from professional advisors on any proposal to invest other than In CIFS and, Sf necessary, on the choice of CIF Investment5 should be reviewed annually by the Finance ènd General Purposes Committee IF&GPI The Investment Policy should be reviewed and endorsed annually by the Governors Investments will be made or) the instruction of the F&GP Money held as cash on behalf of Restricted funds will be credited with interest at the School's marginal borrowing rate Money held on deposlt should be reviewed periodically to ensure that it 15 earning the maxSmum Interest for the Schools. In the long term the School's investment objective is to Invest in funds to achieve returns in excess of RP1, while remaining weighted toward5 cash and fixed income. In the short term investment is being made in buildings. The School's investments relate to restricted and prize funds. The performance of the funds has been n line with expectations. For more detailed information about the School's investments, please refer to note 7. Fundralsln8 Fundraising for School funding priorities Is exclusively carried out by the Royal Grammar School, Guildford Foundation Limited. which raises funds for bursaries. The costs of the Foundation are rnet entirely by the School. The Foundation's fundraising activities are carried out by an in-house staff team. The Foundation adheres to the Code of Fundraising Practice. Fundrabslng activity l$1Smited to those with an eKlSting connection to the School and includes a limited amount of funding from Trusts. Major donor and one. to-one fundraising are the Foundation's key mode of fundraising which helps to ensure that

philanthropic relallonships are not developed with anyone who mlght be vulnerable or be In vulnerable circumstances. FUTURE PLANS The School's development plan is agreed by Governors and is subject to annual revSew. The main plans for the next year to help the School achieve its objectives are.. To fulfil ihe School's charitable alms by spreadlng educatlonal best practice, offering bursarles, and benefitting the commLJnitv,' To tontinue to develop mutually beneficial partnership5 Wlth other edLJcation31 establishments at a local, nation318nd International level-, To continue lo enhance our student experience and further develop support for students, and staff welfare,. To foster outstanding teaching and personal development such that everything we do makes U5 better at everything we do., To continue to work towards widenin8 access to the school for able students wlth Ilmlted means," To proactively seek to create a staff an(J student body whlch is diverse and inclusive, reflecting the community we teach. These plans underpin individual detailed development plans for each area, which will enhance the School's abllity to provide an exceptional education and student experience. RISK MANAGEMENT The Directors have examined the prSncipal areas of the School's operations and considered the major risks faced In each of these areas. The risk assessment is updated at least annuallyi 2nd more frequently if appropriate to take into account changing circumstances. The risk assessments are considered by the RGSG Education cornmittee and the RGSG Prep corllmittee 35 3ppropriate before passing to the F&GP committee and the Board for discussion. The main risk5 that have been identified are.. Cyber-attack, causing major theft, loss or corruption of data or systems that could damage the School's operations, finances or reputation. The Safety of sV5tems Is regularly reviewed along with the development ol disaster recovery 5VStems, the review of policles and passwords, with updates and training for staff on these. Failure to retain the Headmaster Df the RGSG or RGSG Prep could detrimentally affect the School's admissions and performance. The development of members of the senlor team and ongoing support of the governors will help reduce the impact of a change of Head. Uncertalnties for the economy Could further affect parents, finances and could lead to Increased debts to the School and burden on the hardship bursary provision, Careful consideration of bud8etin8, Cost management and fee levels and debt management will madÈ and kept under review. Changes In the polltlcal cllmate could lead to the Introduetlon of leglslatlon that could lead to financial pressure on independent schools. The outcomes of policies publicised by political partles are kept under review. Incidents that have the potential to damage the reputation of the School. This could cover a wide range of incidents $0 careful consideration to legislation, regulations, school policies, health and safety etc must be malntained and revlewed by staff and governors to ensure compliance In all areas. 18

Incidence of 2 pandemic or other events adversely impacting on the School's ability to deliver education combined with the economic imp8ct affecting parent5, finances and ability to pay school fees. Impact lower as excellent remote teaching and learning capability has been rolled out and enhanced by the School dLJring the periods of lockdown, significantly mitlgatin8 the risk of the School being unable to deliver quality education. The School has establlshed a review system and allocated sufficient resources to ensure that those risk5 identified have been mitigated lo a level acceptable for the School's day to day operations. The School regularly reviews the effectiveness of current plans and strate8ies for managing all identlfled major risks for the School and other group organisations. The Annual Report which includes the Strate8ic Report was approved by the Charity and signed on its behalf by.. S, December 2022 Mrs S K Creedv 19

Independent Audltor's Report to tho Directors of Royal Grammar School Gulldford Opinion We have audited the financial statements of Royal Grammar School Guildford I'the charitable company'l for the year ended 31" July 2022 whlch comprlse the Statement of Flnanclal Actlvitles, Charity Balance Sheet, Statement of C3sh Flows and notes to the financial statements, includin8 significant accounting policies. The financial reporting framework that has been applied in their preparatlon is applicable law and United Kingdom Accountin8 Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited KSngdom Generally Accepted Accounting Practice). Sn our opSnlon the financial statements: Bive a true and fair view of the state of the charitable company's affairs as at 31" July 2022 and of the charitable corllpany's income and receipts of endowments and expenditure, for the year then ended,. have been properly prepared in accordance with Unlted KSn8dom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requlrements of the Companies Act 2006. Basls lor oplnlon We condutted trur audit in accordance with International Standards on Auditin8 IUKI IISAS IUKII and applicable law. Our responsibilities under those srandards are further described in the Auditor'5 responsibilitles for the audit of the financial statements section of our report. We are Independent of the charitable company in accordance with the ethical requirements that are rèlevant to our audlt of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethltal responsibilities in accordance with these requirements. We belleve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinlon. Conclu51ons relatlng to 8olng concern In auditing the financial statements, we have coricluded that the directors, use of the going concern basis of accounting in the preparation of the financlal statements Is appropriate. Based on the work we have performed, we have not Identif￿ed any material uncertainties relating to events or condltions that, individually or collectlvely, may cast Sl8nificant doubt on the charitable company's or the charitable company's ability to continue as a going concern for a period of at least twelve months from when the flnancial statements are authorised for Issue. Our responsibilities and the responsibilities of the trustees with respect to goSng concern are described In the relevant sections of thls report. Other Informatlon The directors are responsible for the other Informatlon contained within the annual report, The other information comprises the information Included In the annual report, other than the financial statements and our auditor's report Ihereon. Our opinlon on the financial statements does not cover the other information and, except lo the extent otherwise explicltly stated in our report, we do not express any form of assurance conclusion thereon. 20

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconslstent with the financlal statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material incon515tencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there 15 a material misstatement of this other information, we are required to report that fact. We have nothlng to report In thls regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 n our opinion based on the work undertaken in the course of our audit the informatlon given in the directors, report, which includes the strategic report prepared for the purposes of company law, for tho fSnancial year for which the financial statements are prepared is consistent with the financial statements,. and the strategic report and the directors, report have been prepared in accordance with applicable legal requirements. Matter5 on which we are required to report by exception In light of the knowledge and understanding of the charitable company and their environment obtained In the course of the audit. we have not identified material misstatements in the strategic report or the directors, report. We have nothlng to report In respect of the followSng matters In relation to which the Companles Act 2006 requires us to report to you if, in our opinion.. adequate and proper accounting records have not been kept,. or the flnancial statements are not in agreement wlth the accountlng records and returns,. or certain disclosures of directors, remuneratlDn specified by law are not made,. or we have not received all the information and explanations we require for our audit. Responsib51ities of Directors As explained more fully in the directors, responsibilities statement, the directors 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 35 the directors. determine Is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors. are responsible for assessing the charitable company'5 ability to continue as a going concern, di5elosin8, as applicable. matters related to goin8 concern and using the going concern basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Audltols responsibilitles for the audlt of the flnanclal statements Our objectives are to obtaln reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditorf5 report that Includes our op1nion. Reasonable assurance Is a hlgh level of assurance, but is not a guarantee that an audlt conducted in accordance wlth ISAS IUKI will always detect a materi31 mlsstatement when 21

it exists. Misstatements can arlse from fraud or error and are consldered materlal If, indlvidually or Sn the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Detai15 Of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance wlth laws 8nd regulations 3re set out belo¥w. A further de5crlption of our responslbllilies for the audit of the financi31 statements Is located on the Financial Reporting Council's wobsite at.. www.frc.or -uk 3uditorsre5 on5ibilities. This description forms part of our auditor's report. xtent to whlch the audlt was consldered capable of detectlng irregularitles, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We idenllfied and assessed the rlsks of materlal misstatement of the financlal statements from irregularitie5, whether due to fraud or error, 2nd discussed these between our audit team members. We then designed and performed audit procedures responsive lo those risks, including obtaining audit evldence Sufficient and appropriate to provide a basis for our opinion. We obtained an Ljnderstandlng of the legal and regulatory frameworks Wlthin which the charitable company operate5, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and re8ulations we considered in thi5 context were the Companie5 Act 2006. legislation, together with the Charities SORP IFRS 1021. We assessed the required compliance with these laws and regulations as part of our audlt procedures on the related financial statement items. In addition, we considered provisions of other laws and regulations that do not have a dlrect effect on the financial statements but compliance with which might be fundamental to the charitable company's ablllty to operate or to avoid a material penalty. We also tonsidered the opportunitles 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 Ilndependent School Standards) Regulations 2014. Auditin8 Standards limSt the required audit procedures to identify non-compllance with these laws and regulation5 to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, il any. We identified the greatest risk of material impact ot) the financial statements from irregularities, including fraud, to be within the timing and recognition of non-fee income, procurernent processes for significant capital projects and the override of controls by management. Our audit procedures to respond to these risks included enqulrles of management and the Finance and General Purposes Committee about their own identification and assessment of the risks of irregularities, sample testing on the postlng of journals, rev￿ewing accounting estlmates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and readlns minutes of meetings of those charged with governance. Owing to the inherent limitations of an audit, there is an unavoidable risk that we rllay not have detected some materlal misstatements in the financial statements, even though we have properlv planned and performed our audit in accordance with auditing 5t8ndards. For example, the further removed non-compliance with13w5 and regulations lirregvlaritie51 is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedure5 required bv auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve colSusion, forgery, intentional omissions, mlsrepresentations, or the override of internal contro15. We are not responsibl¢ for preventSng non- compliance and cannot be expected to detect non-compliance with all law5 and regulations.

Use ot our report This report 15 made 501ely to the charitable company'5 directors, 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 director5 those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's directors as a body, for our audit work, for this report, or for the opinions we have formed. Tina A11150n Senior Statutory Audltor For and on behalf of Crowe U.K. LLP statutory Auditor London Date 16 December 2022 23

R•y•lfjr4mm•i 5chaolGulldl•rd StoiemèntolFlnoncI)1AciM￿tS loi th• YÈbrond•d31 July2022 Unr¢strlrted Funds 2021-2012 Total 2020-2021 Total Note Funds £000 £000 gooo 000 Inwme from-. 23,295 1,045 214 23,295 1,045 214 21,780 587 248 Other educational Income Other3nclllarytradln8 Incom oonatlons and Le83cle5 DofjatlQn5 Le8acles 340 340 InvestrnontS Ini¢fne Irom Investments Other Inwme 273 273 181 Totil Incom• 24.831 340 25,171 23,177 Exp@ndltur• on.. Ralslni Fvnds Advance Fee contr3¢tS si 44 PenslDn CommSlment net financlal Costs 76 63 63 123 S¢h¢uls and grant maklng 23.729 357 14,086 22,013 Total Èxpèndlture 2d,792 357 24,149 22,140 NET INCOMING FUNDS I IEMPENDITUREI FROM OPERAnONS bEFORE INVESTMÉNT GAINS 1.039 1,022 1,037 Net Ilossesl on Inve5trnents Pension Cess•tlon Attuari•l ILo¥sl 11,0701 NET INCOMEIIEXPENDITUREI 1.036 Tr•nsleis l)otween fund 905 NET MOVEMENTIN FUNDS FOR THE YEAR 1,941 Fund b418Dce5 brou8ht forward al I AuEUSt 2021 38,957 187 39,144 37,203 FUND 8ALANCES£atrled forwird at 31 July 2022 38.918 170 39,088 39,144 The School has no galn5 or105se5 thai are not shown above, All Dperaiions are continulnB. Tho accountln8 pollcies and note5 un pase5 27 to 45 form part of these Flnanclal Statement5. 24

Royal Grammar School Guildford

Balance Sheet As at 31 July 2022

Note FIXED ASSETS Tangible fixed assets 6 Investment .ssets 7 CURRENT ASSETS Stocks 8 Debtors 9 Cash CURRENT LIABILITIES Creditors payable within one year 10 Pension Scheme Liabilities 16 (i) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES LONG TERM LIABILITIES Creditors payable after one year 11 Pension Scheme Liabilities 16 (i) TOTAL NET ASSETS Represented by: 13 RESTRICTED FUNDS UNRESTRICTED FUNDS Designated Funds General Funds UNRESTRICTED FUNDS TOTAL FUNDS	£000 66 1,133 10,052 11,251 (5,728) (1,754) 33,650 5,268 2022 £000 £000 38,093 153 38,246 57 924 8,631 9,612 (5,835) 0 3,769 42,015 (2,927) 0 39,088 170 34,118 4,839 38,918 39,088	£000 66 1,133 10,052 11,251 (5,728) (1,754) 33,650 5,268 2022 £000 £000 38,093 153 38,246 57 924 8,631 9,612 (5,835) 0 3,769 42,015 (2,927) 0 39,088 170 34,118 4,839 38,918 39,088	£000 66 1,133 10,052 11,251 (5,728) (1,754) 33,650 5,268 2022 £000 £000 38,093 153 38,246 57 924 8,631 9,612 (5,835) 0 3,769 42,015 (2,927) 0 39,088 170 34,118 4,839 38,918 39,088	2021 £000 39,106 160
				39,266 3,777 43,043 (3,215) (684) 39,144 £ 187 38,957 39,144
			9,612 (5,835) 0
			34,118 4,839
		39,088

Approved by the Board of the Royal Grammar School Guildford, on 5[th ] December 2022 and signed on behalf of the Company

Mrs S K Creedy aoard Member Rev R L Cotton Board Member

The accounting policies and notes on pages 27 to 45 form part of these Financial Statements.

25

Royal Grammar Sthool Gulldford Cash Flow Statement Year ended 31 July 2022 Note 20Z2 2021 000 NET CASH INFLOW FROM OPERATIONS Nèt ctsh provided by operatin8 artivlties Éooo £000 2,815 2,606 CASH FLOWS FROM INVESTING AcfiviTIES Payrnents for tanglble fixod a55ets Proceeds on Sale of tangible fixed a55et5 AdditlOfjS to investment5 Investment income and bank intertst recelved 15841 14681 68 Net cash (used Inl InvestlnB actlvltles 13981 C85h flows from financlng a¢tlYliles.' Fin3nco costs pzld Net cash provlded by Ilnantln8 artlvltles Change In cash and cash equlvalents In ¢he rtportlni perlod 1,421 2,195 Cash and tash ¢qulval¢nts at 15tAu8U$t 2021 8,631 6,436 Cash at)d cash equlvalÈnts at 31st July 2021 10,052 8,631 Net Cash Inflow from Opèrating Artivltles 2022 2021 Net incomlng rÈsour¢És Ellmlnation of non-operatinÉ cash Il¢ws'. Inve5tnient Income FiD3nce costs 1,022 1,037 612 222 Depreclatlon Ilncrea5el/Lle¢rease in Stocks Ilncreasel/de¢rea5e In debiors J,597 1,70? 12091 fees in advance scheme and doposltl Deflned tsenelit penslon scheme 8dSustrnent5 Incre3se/lDecreasel In fees In advbnce scheme credltors Increèse In parents. deposlts 15601 194 63 ioi 11491 60 Net Cash Inflow from Operatln8 Actlvlt5e5 2,506 2,815 Chan8e5 In Cash and Cash equlvalents Change In Year Analysi5 of balance5 at 31 Julv 1022 2021 Cash Cash IquivalenE5 (Oeposit < 3 months) Changes In Cash and Cash equlvalents from the School'5 operatlon5 1,421 10,048 8,627 1.421 10,052 8.631 The accountlng pollcles and notes on pzges 27 to 45 form part of these Flnanclal StatemÈnrs. 26

NOTE I.. ACCOUNTING POLICIES Basls of Accountin The financial statements have been preliared In accordance with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. the Charities Act 2011, and the Statement of Recommended Practice applicable to charitie5 preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The financial statement5 have been prepared to give a 'true and fair, view and have departed from the Charlties (Accounts and Reports) regulation$ 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following Accounting and Reporting by Charitie5 preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 issued on 161h July rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from l April 2005 which h05 since been withdrawn. They are drawn up under the historical cost convention as modified by the revaluation, at fair value, of investments. At the tlme of approval of the Annual Report, turbulence continue5 to be experienced in the UK economy, with rislng interest and inflation rates, and the lon8 term impict on the charSty, in common with other businesses, remains unknown. The charity holds significant cash balances supplemented, if needed, by an overdraft facility. Demand for school places at Royal Grammar School Guildford remains strong, with continuing high numbers enrolled for the academic year 2022123. Collection of fee income continues to be robust. Conservative cash flow modelling with sensitivity analysis indicates that the cash reserves of the charity are adequate lo meet the charity's obligation5 as they fall due. Accordingly, the Oirectors believe the Schools, financi31 resources are sufficient to ensure the School wlll continue as a going eontern for the foreseeable future, being at least 12 months from the date of 3pproval of the financial statements and have therefore prepared the financial statement5 on a golng concern basls. The functlonal currency of the School is considered to be GBP because that is the currency of the primary economic envlronment in which the Sehool operates. The School 15 3 Public Beneflt Entlty re8lstered as a charity in England and Wales, Company Number 10874615, Charlty Number 1177353. Crltlcal Accountln Jud ernènts and Ke Sources of Estlmatlon UncèrtaSnt In the application of the accountin6 policies, the Directors are requlred to make judgement, estimates and 355umptSon5 about the carrying value of assets and liabilities that are nDt readlly apparent from other source5. The e5tim3te5 and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is rev15ed if the revision ortly affects onlv that perlod, or in the period of the revlsion and future periods If the revision affected current and future periods. The key source of estlmatlon uncertalnty that has a slgnificant effect on the amounts retegnlsed In the financial slaterllents are describèd in thè 3ccoiJnting policies and are summarised below-. 27

Pension liabilities the charity recognises its Ilabllity to Its deflned benefit pensSon scheme whlch involves a number of estimations as disclosed in note 16. The following accounting policies have been applied consistently in dealing with item5 which are considered material in relation to the School's financial statements.. Statement of Financlal Actlvltles SOFA The School ha5 two types of fund.. Restricted- wherÈ the purposes for which the funds may be used have been restricted by donors,- and Unrestricted where the fund 15 not restricted a5 to use other than in furthering the objects of the School. These Include De51gnated Funds, where the funds are unrestrlcted, but the Dlrectors have desi8nated them for 3 speclfic purpose. Income and Ex endlturé Income and Expenditure is accounted for on an accruals basis with the exceptlon of income from glfts and legacies. These are recognI5ed when the charity is legally entitled to the income, thè amount C3n be measured with reasonable accuracy, and the economic benefit to the School is considered probable. Fees and slmllar Income Fees recelvable and charge5 for services and use of premises are accounted for In the period in whlch the service is provided. Fees recelvable are stated after deductible allowances, scholarships and remissions allowed by the School, but include contriljutions received from Bursaries funds. Donatlons and Le acles Donations recelved for the general purpose of the group are credited to school income. Donations Subject to specific wishes of the donors are carried to relevant restricted funds or used within the year for the appropriate purpose. Gifts in kind are valued al estimated open market value at the date of the gift, in the case of a55ets for retention or consumption, or at the value to the School In the case of donated services or facilitle5. Legacies are taken to unrestricted funds unless specified for a particular purpose in which case thev are taken to restricted funds. Income from Government Grants No Government Erant income was received in the year. Government grant income received In the prior year- and specifically that received under the Coronavirus Job Retention Scheme- is reported under the heading Other Income and Separately identified in the notes to the accounts. Such income ha5 been recognised under the accrual model whereby grant income Is reco8nised In the perlod in which the expense to which it relate5 was incurred. Ex end5turo Expenditure 15 accrued as soon as the liability is considered probable, discoLtnted to present value for longer term IlabSlltle5. Expenditure 15 allocated to expense headings elther on a direct cost basis or 28

apportloned accor(Jing to time spent. Irrecoverable VAT is included In the Statement of Financial Activities with the expenditure to which it relates. Governance costs are those costs incurred in the safeguarding of the School's assets associated with con5tltutional and statutory requirements. Investments Investments are shown at their falr values at the year end. Realised and unrealised galns and losses on investments are accounted for through unrestricted or restricted funds as appropriate and are accounted for In the SOFA. Tan Ible Fixed Assets Expenditure on individual fixture5, fittings and equipment, mtstor vehicles, grounds and maintenance equipment and IT that are over £5.000 and capital in nature are capitalised, together with any spending of a capital nature relating to bulldings. Certain artefacts owned by The School are considered to be inalienable. It would be both difficult and costly to attribute a cost or valuation to these assets. In the event of future acquisitions ol inalienable assets, such assets would be capitalised, Any proceeds on the disposal of such assets would be accounted for through the appropriate fund In the SOFA. Herita e Assets The School holds the Town Wall lor Garden Wall) that at one time divided the School's property from the neighbouring Duke of SorNerset's House and is also the old boundary between the Stoke and Christchurch Wards of Guildford. From time to time members of the public are permitted access to vlew the wall along wlth the Old BLJilding and other items of historical interest that are held and used primarily for educatlonal purposes. The Wa11 is maintained as part of the School's general care of its bulldings, but also having re8ard to Its commitment to the local community to care for a historical property. The Governors do not regard it practicable to obtaln a valuation of the Wall and, accordinglv, no value is ascribed to it. De reclation Depreciation 15 provided on all tangible flxed assets, other than freehold land, at rates calculated to write off the cost of each asset. less any e5tirnated residual value lJ35ed on turrent market prices, evenly over its expected useful life. New capital developments are depreclated only when work has been completed and they are brought into use. The depreciation rates for the principal categories are.. Freehold BLJildings Furniture & Fittings Computer Equipment Photocopiers Motor Vehicles Playing Field EqLJipment Leasehold Property Leasehold Improvements Major Refurbishment 2% per annum on a straight line basis IS% per annvm on a straight line b851S 25Yo per annum on a straight Ilne basis 20% per annum on 3 straight Iln@ basi5 20% per annum on a straight line bzsis 12.5% per annum on a straight line basis over the length of lease over the len8th of le3se 4% per annum on a straight line basis 29

Stock Stocks are valued at the lower of cost and net realisable value. eratin Leases The annual rèntal for operating leases is charged to the Statement of Flnancial Activities on a straight Ilne basis over the lease term, even if the payments are not made on such a basls. Benefits received and receivable as an Incentive to slgn an operating lease are simil3rly spread on 3 straight line ba515 over the lease term, Flnance Leases Assets held underfinance leases are capitalised at thÈir fair value and depreclated over their estimated useful economic lives. Future obligations under finance leases are included in credltors. net of finance charges. Payments are opporlioned between the finance element, which is charged to the Statement of Financial Activities as interest, and the capital element, which reduces the outstanding obligations. enslons and Post Retirement Benefit Schem al Defined beneflt Scheme5 The School contributes to the Teacher5, Penslon Scheme, whlch Ss a defined beneflt scheme, at r8te5 Set by the Government Actuary. The Scheme is a deflned contribution 'Multi-Emplo¥er' scheme and it is not possible to identify the assets and liabilities of the Scheme whlch are attributable to the School. In accordance wSth FRS 102, the Scheme15 therefore accounted for as a defined contribution scheme. Contributions to the Scheme are charged to the SOFA as thev become payable In accordance with the rules of the Scheme. rhe School a150 contributed to the Surrey County Council Superannuation Fund for I month of the year. This is a defined benefit scheme lor support staff, and Is c105ed to new entran15 from the School. With effect from 31" August 2021, as a consequence of dwindling employee membership, the School withdrew from this Scheme. The School has fully adopted FRS 102 and, in accordance with this the following elements are charged to the SOFA.. The service costs of pension provision relating to the year, together with the cost of any benefits relating to past servlcè. The net finance cost represented by a charge equal to the increase in the present value of the Scheme liabllitles and 3 credSt equivalent to the Ion8 term expected return on assets. The actuarial gain or loss on the Scheme assets and liabilities. The difference between the market value of assets of the Scheme and the present value of accrued pension liabilities is shown as a liability on the Balance Sheet. Investments in funds are valued at bid price quoted by the investment manager at the Balance Sheet dates. 30

The closlng Ilability Of the School In respect of the Surrey County Council Superannuatlon Fund Is included in credltors at year end. bl Deflned Contribution Schemes The pension cost charged to the SOFA represents the contributions payable by The School under the rules of the Scheme. Advanced Fees The School ha5 accepted advance fee lump sum payments in respect of certain pupils and in return has undertaken to discharge defined amounts of the fees chargeable in respect of those pupils subsequent to 31" July 2022. In the event of a pupil's Wlthdrawal from the School before all the agreed amounts have been credited, the School has a@reed to return the relevant unspent portion of the capital payment without addltion of interest or to continue lo hold the remalning capital payment for payment Df fees to a new educational establishment where appropriate. The School's liability in respect of advance fees has been brought into these accounts as the liabS1ity which would arise if all the puplls covered by such arrangements tompleted the full term period of the contract entered into. De oslts The School receives a deposit from parents upon acceptance of a place for their son. The School refunds the deposit, less any appropriate deductions, after the pupil leaves the School. Under FRS 102 all deposlts are considered refundzble within 12 months of the balance Sheet date, under the terms of the contract and are classified within amounts due withln one year, Flnanclal Instruments Basic financial instruments are initially recognised at transaction value and subsequently measured at amortlsed value with the exception of Investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together wlth trade and other debtors. A provision is made where the recovery of debts is in doubt. Cash at bank and in hand is defined as all Cash held in instant access bank accounts and used as worklng capital. Financlal liabilitles held at amortised c05t comprise all creditors except soclal securlty and other taxes and provisions. Assets and liabilities held in foreign currency are translated to GBP at the balance sheet date at an appropriate vear end exchange rate. Taxation A5 a re815tered charity The School is generally exempt from Corporation Tax but not from Value Added T3x IVATI. Irrecoverable VAT is included with the c05t of those items to which it relates. 31

Royal Grammarkhwl Gulldlord Notètsto theAttounts Yeirended 31 i￿ly?011 2022 £000 2021 Eooo 2. CHARITABLE AcfiviTIES- SCHOOL FEES RECEIVP4BLE (al The school'j Income re¢elvable ¢omprlsed: Gros5 fees Le55'. Total bur5arles, scholarsttlps ind dlscounts l4,62g 23,211 22,955 21,413 Add back.. 8ursarles pald for by RestrlciédlDesl8nated Fynds 340 25,295 367 21,78Q Re#rlrted Funds £000 Ibl Graot$ and awards pald folby RestrlttedlDesl8natéd Fvnds ¢•mprf5¢d Unrestrltted Funds £000 2022 £000 2021 £OLN) 340 340 367 Bursarles were awarded from Ptstrlcted/Ullre5trlcted Fund5 to 73 Indivlduals12021.- 771. 3. CHARITA8LE INCOME- OTHER IJI Other edurationil income 2022 000 67 912 66 1,045 2021 £000 55 497 3S 587 Ibl Otheranelllary tridlnl Income 1022 £000 2021 Insu￿nCe commlsslons 214 214 248 248 Totol for S¢hoo1 Ile5trlcted Funds ÉOC4) Unrestrfcied Funds Éo 2012 £000 2Qll Éooo 22 131 28 181 Icl Other Incomlng resourte$ Government Grani lob Rerentlon Scheme Oth¢r 266 271 266 273 32

Royal Grammai School Gulldford NOteitDthe Accounis Y¢•r•ndqd 31Julv1022 4. ANALYSISOF TOTAL RESOURCES EXPENDED 2022 Totil £000 2021 Tot41 £000 Staff costs £000 Other ooo Depreciatlon lal Cost of Ralslni Funds £000 Fln¥nce costs 63 63 123 Schools and grani rnaklng Teachlng Wellaro Premlses Support C05t5 of sihooling 12,792 78 486 2,241 1,870 1,182 2,438 1,061 183 14,845 1.260 3,979 3.662 13,50fj 990 3,695 3,455 1,055 359 Donations, Grants, awards and prlzes 34Q 340 367 S¢hool's operatln8 cojts 15,597 6,892 1.597 24,086 22,013 Tot•1 Charltèble Expendlture 15,597 6,892 1,597 24,086 22,017 Tot41 Resources Expended 15,597 6,955 1,597 24,149 22,140 Icl Govornanco coyt5 Included In $upport costs Audltors, rerlluDe￿t1o￿ Current Vtar chtrge 38 Other seivlces Trustees, c05tS Governance costs 93 44 Auditors, rernunÈr3tlon costs are Inclu51ve of VAT. Trustees, costs related to Ihe cosr of Governor meetings E5,185, sub5criptlons £176 and expense5 E624. There are 21 Governors who are dlroctors of RGS and Lan@sborou¥h. TherÈ wt5 no TrustEe remuneration durin8 thè year. 5. EMPLOYEES Teaehln¢ £000 9.347 1.078 1,988 379 Other 000 2,211 30 211 143 2.805 2022 000 11.568 1,308 2.199 512 2021 £000 10,685 1,220 2,237 482 14,624 Wages and salarle5 Other Staff costs Average number of empl¢)v@@s durlr¥ the year 2022 Full time 132 69 201 2021 Full tlmt 123 65 188 Parttlme 41 48 89 Part time 48 47 95 Teachln8 llon Teachlng 33

ft0￿1 Gtamrnar S¢ho•l Sulldlord t4otoS ttsth• a££aunts Yeir pnded 31July 2072 The number¢f employee5 whose emolumon15, oxcludin8 émploypr's pe.nsi¢ns coDtrlbutlons, ex¢e¢ded £60,000 were.. É60.001- £70,OnO £70,001. E80,000 £80,001. £90,000 £90.001 £100.000 £IOO.001 . f110.000 £150.001- £ISO.JOO £220,iX)1- £220,000 £250,001- £260,000 2022 28 li 2021 25 46 37 A numbtrr of staff are not rnernbers of any pension scheme and the employei pe*slon ¢oNtrlbution15 pild tg ihern as part ef Ihelr overall packagp ind is Included In the pay bands aljove. P&n%lnn conirlbuiions of £677k12021- ES?2kl were made Inio penslon scheme5 In respoct ol hl8her pdld employee5 during the year, Of this, contributions ol E6Q5k12021- E534kl were made Into a deflned tseneflt penslon scheme, The aggregaie employee-ben¢lits ol key mèniEement personnel (the 5£nior ManaRoment Telms ol both schoolsl Intludin8 employers, penslon cantributlans and Natlonal Insurance tottl £1,977k12021 E2,126kl. During ihe yeir iher? were ihree redundancy artermlnatlon paymenis toialling E13k12021.. £5Qkl. No remunerètlon was paid t¢ Governors durin& 2022,. e¥peDSeS pald to Governors totalled £0.5k12021.. £01, 6. Tanllble Ilxed assets osf and dopre¢latlon Computer Equlprnent Freehold Land and Leasehold Propertv Flxtur¢s, Total Property £000 4,059 471 EOOO 1,250 47 £000 49,546 66 £000 2.129 At beÉlhnln8 of year 56,984 584 13001 At end of yèar 1.297 49,612 2,129 4,230 57,268 DeprKlatlon Ar be8innirtg ol year Charge for the year 964 183 13,010 1,036 1,135 19 2,769 359 17,878 1,597 At end ol year 1.147 14,046 1,154 1,82E Ig,175 Nrt Book Volue Atend of yeaf 150 35,566 975 1,402 38,093 At beglnnln8 Dlvear 286 16,536 994 1,290 39,106 34

Hayal Gramm#rSehoolGulldloYd Not¢5tothg A¢wuDt5 ¥*ar•nd•d 31 lul¥1022 ?. Invdstment assets Unr¢strlcttd funds £000 54 Restrl¢ted lund5 £QDQ Total £000 54 At begSnnlng ofyear- Im3rker¥aluel Unroalised loss Ar erd of year. Imark@r valuel 46 46 Cash at Invosiment m¥na8ers at be8lnnln8 of year Movement In year 106 106 Al end of year- Imarkei valuol 107 107 At end of year- Imarkel V31uel 46 107 IS3 At be8lnnln8 of ye/r- Imirket valuel 54 106 160 Invesimenis are held In Common Investment Ftsnd5170%1 and in cash. 8. siocks 2022 £000 23 43 2021 £000 14 43 School Items for fesale To￿1 Stock 66 57 9. Debtor$ 2022 £000 155 2021 £000 189 Fee debtors Less Provlslon for bad debt5 Amounts due from DthEr Group cornpÈnles Other debtor5 and prepayments Toial debtors 509 527 1,133 315 483 924 35

Royal Gr&mrn4rSthool Gylldloid NOt•St0t￿ ActaUnl% y¢arend￿ 31 july IQ21 10. ¢rodltors'. due wlthln onè year 2022 £000 2021 £000 ink loaD (see below) ObllEJtIOns undef Flnallctr Leè*5 1,7S7 I,982 1,064 370 132 187 1,933 141 140 949 320 91 250 1,832 283 120 5.835 Arnount due EO Foundailon Atc¢piance dÈpaslts Fees recelved In advanee Advanced fees Istt note 121 The Governors have revlewed the contract term5 under whlch acceptance feo dep051t5 arÈ held by the school. Although under 11. Credltor5.' due after more than one yeoi 20Z2 ioii 8aDk loan15oo below) 2,808 3,134 Advanced fees lsee note 121 119 2.92Y 76 3,215 The bank loans, tot)Iling £4.56m12021.. £5.12ml arp secured by charges on the freehold land and bulldln89 oFthe school. There were two loans in ex15tence at year end.- oldEr loan of £1,43m12021', £1.S5ml. In August 2018 Ihls loan was reelèsslfied És Èn ovèrdraft, and included ln its eniiretv underCredii¢rs.. due within one year. An addlllonal loan dated 23rd August 2017 had a balonce 01 the End of the year Of £3.4Sm, The108n Is spllt between EO.32m as a Credltor.. due withln onE year and the balance due alter more than ont year. This104n was arrart8ed lo faellllate bulldlng wvik, wlth a ioial 3pprovÉd loan value of £6m. Repayments started In April 2019 and a lump sum ropaymont of £2m was madg durlng 2019120. The linal ropaymoTrt date15 Septombor 2024. The bank loans are repayable.. 3012 tooo 2021 Éooo After S yeir5 Wllhln 2 to 5 Withln I t¢ 2 2,479 329 2,799 335 After more than one yoar INote 111 Withln ono year INoto 101 2,808 1,757 4,565 3,134 1,982

Ro¥al Grarnmar khotrl Gylldffor¢ Nores to the Accounts 31 July 2012 The obll¥atlon$ under flnanee leases relèl¢to photWgpl¢r% purchased for both HGS dnd Lane5borou8h.. The flnèn¢e leases are p8yable.' 2022 £000 2021 EO(KI After 5 years wiihln i 10 5 After more than oné year lse¢ #bovel Wllhln oneyear I see note 101 13 12. Athihnced Payments Parents may ¥nler Int¢ è contract to pay Ihe Srhool up ¢0 Ihe equivalent of seven yetr5' tulllon lee5 In adw4n¢e. The m¢ne¥ mov 2021 £000 2021 £000 After 5 years Wlthln 2 to 5 years Wlthln I to 2 years After more than one year15ee note 111 wrfchln one year Isee note 101 41 78 21 55 119 140 259 76 120 196 The balance repre5entsthe accrued Iliblllty under Ihe contracts. The movements durin8 the year were-. 2022 £000 196 201 2021 £000 345 39 Balance ai beglnnln8 of year New coniratts Amounts accrued to ¢ontracls 399 386 Amaunts utlllsed.. In paymont ol ftes Caplral rep8ymenis Balance at end ol year 259 196 37

RoyalGramrn4rSthaol Gulldfprd Nolwtoth• Ac¢•unis, Ye•rèndqd 3JJul¥2022 13. Allo¢atlon of the charlty nei a55ets The School ha5 identifled land whlch it owns and 15 consldered permantntly endowed. The value of ihis land has è historic cost of £554 and Is fully vjrliien down wlthln the flnintial statements. The Governors do not CQn51dor this material In the cantoxt of the StatErnenls. Major Restrlcted Fund5'. Restricted Fund5 Within the Schoo1 are malnly made up of the lollowln8.' The Gleve fund, which Is the residue ol 8 bequÈsl held for the 8eneral betyeflt tsf thorlster5 at Lan¢sborou8h SEhoal. The Aursary Fund whlch receives restficled bursary dDnatlons. All fe5tricted bursary recelpts durln8 the year ¥ro expended Restrlcted Minar Ad Ho£ funds Include the OGA Ma8aiine Fund, whlch is used for the production of the Old Guildfordlan magazine, whlch is now under the au5plces of the Development and Alumni Relation5 Olflce. Major Unrestrlrted Funds., Unre5tri¢ted Funds in the School are up oFde51gnaled and generHI funds,. The Desi8iialed Tangible Net Flxed Asset Fund Is a fund set up to representtart8lble flked ass¢t51¢55 loans, A tr¥thsfer wlll be made io or from thi5 reserve pach year to rnaifjlain the relationship, The Oeslinèied Prlze Fund 8¢nerates Income each year whlch Is used to make a contrlbullon 10 prlzes awarded to boys during the year. (al The consolldated a55ets at 315tJuly 2022 are held for rhe vlrlous funds and idvancod fops as follews.. Bulldln8s and Nrt ¢urr•nt Equlpment Investment545srt5/Llabllltles £000 £000 £000 T•rm Totil £000 Gl&ve 106 106 Ad hoc Mlrtor Fund5 S3 63 Total Restrltted Sund5 Unrestrl¢ted- desS8nated funds Tanglble Net Flxed A55et Fund 106 64 170 38,093 12,80BI 33,528 57 65 33,650 47 io Ad hac Minor Funds Total Oe516naled Funds 38,093 47 li,s811 School Generollcapital D¢velopTnEnt 7,141 7,022 Total Unrestrl¢ted Funds 38,093 47 3,706 38,918 Toial Funds 38,093 153 3,770 39,088 The Tanslble Not Flxed Asset Fund represents ranglble flxed a$sets nei of depreclèrion and bènk loans out51andlng. a8

R¢y41 fjrimmarSchoal Gulldfard Notost¢ tht AG¢ounis Vear•ndid 3LJul¥1022 Ibl R¢strlrted lunds.. mov£mqht5 In the year 31 July 2021 Inves¢mtnt Inve5tm¢nt Translersl Net intome 8alns In¢ome EOOO £000 340 Granty and 4lloutlons EODO Balancè at 31 July 2022 £000 £wo Éo 8ursÈr¥ fund Gieve fund Ad hoc funds 106 80 106 63 Total Restrlcied funds 187 340 35? 170 (¢1 Unrestrl¢ted funds.. movement5 In the year 31 Julv 2021 £0 INestment Investment Transler91 Net Income galns incom £000 Balanc• at Oonations 31 July 2022 £ooG £000 De518nated funds Tanglble Net Flx&d Asset 33,990 63 65 34,118 33,528 57 65 33.650 Ad hot funds Tot41 Desl8nated fundj 14601 14ot de$lgn4ted School Gen¢rill Capltal D&velopmeDt fuDd 5,523 16841 1,495 7.022 Tolal Unr¢strltted Funds 38,957 38,918 Idl Ttansftrs between funds Unrostrlotd Funds R•5trlcted Funds General £000 De51gnatqd £ooJ Rostrlct¢d EOLSJ Transfer of ienErèl reseNe5 from Deslgn8ted Tanglble Net A55et Fund 482 14621 462 14621 39

Roy•l Gr•mrn•rS¢hool Gulldfo¢d Not•sto thèAC<oUnts Yearqnded 31 july 2022 Comparatlve Allocillon of charity ner assets (al rhe con501id3ted net assets at 31siJuly 2021 are hèld for the varSous fund5 and advancÈd lee5 as lollows.. Long Term BuildinKsand Net current Equipment Invesrmfrnts4tssetslLi8billtle5 £oc £000 Total £000 £000 Gleve 106 106 Ad hoc Minor Fund5 80 80 Total Restrirted Fund5 106 81 187 Unre5tritted deslgnated funds Tanglble Net Flxed A55et Fund 39,106 33,990 63 65 54 Ad hoc Mlnor Funds 65 Tot•1 Desiwated Funds 39,106 54 34,118 School Generallcapiial Development 5,604 5,S23 6841 Totil UnreJtrl¢ied Funds 39.106 54 3,697 38.957 Total Fund¥ 39,106 160 39,144 The Tan8ible Net Flxed A55et Fund represent5tall8lblt fixed a5set5 of depreclatlon and L)ank loans outstandln8. Ibl Restrlcted funds- movements In the￿ar 31July 2020 1000 Investment Investment Transfe¥sl Net Ineome 8alns Incomè £000 fooo EOIYJ 367 Grants and Balante at 31 july 2021 £000 8ur5afy fund Gieve fund Ad hoc lunds 106 BS 106 80 Total Restrlrtéd funds 192 387 392 187 40

ftovwl Grammar5thool Gulldlo Notestothe AÉ¢duTrlS Y*•i 4nd44 31 lul¥ 2021 (£1 Unrestrl¢ted funds.. movemeThts In the year Investment Investment Transf¢r51 Nrt Ih¢ome 8alanceat JI July 21J21 £000 2020 on4tlon5 EOOO £000 fooo fooo DeslBnatei4 funds 35,101 60 63 35,224 33.990 63 65 34,118 Ad hoc fund5 Total DeslÉnated funds Notdeslgnaied Development Fund 3,609 1,902 1,138 12 5,523 16841 Total Unrestrl¢ted Funds 37,011 1,929 14 38,957 14. Operatlng Leas As ai 31st july 2022, the mlnlmum lease payments to whlch Ihe School Is commlited under non-cancellable op¢ratlnR leasesarÈ'. Land and Bulldlnis 2022 £DOO 124 176 2021 £000 124 176 Under I year MarE than I year ènd It55 than 5 years Greater than 5 y¢ais 300 300 Operolln8 lease payments IL4Dd and Bulldln8s Other) provlded for as an expense In 2022 were E124.20012021 £134,123>, 15. Capltsl Commltments At 31&t july 2022 there were no capltal works 8uth¢r15ed and conlracied for byl not provlded for In these Accounts12021 £01. 41

Aoy•lGpammarS¢hool Gulldlord Not•$ttsthe Accounts y¢ar•nded JI luly1022 16. Penslon Oblllaiitsns Tlie School operates the lollowin8 penslon schemes.. The School participates in the Teachorg. PoDslon Scbeme I the TPS I for Its teiching siaff, The pension charge for theyear Includes contributlons piyable to thF TPS of 11,886,95012020121- EI,801.3671 and at the year end EO12020121 ÉOI was attrued In respect of cantributlons to thls scheme, The TPS Is an unfunded multl-efflployer defined benefits penslon scheme Boverned byThe Toachers, Pen51on5 Regulatlons 2010 las amended) and ihé Te3chers' Penslon Scheme Re8ulotions 2014 la5 amendedl. Members conirlbuie on a 'piy as you 80" basls with contrlbutions from members ènd thÈ employer beSng crediied to the Exchequor. RtllremÈnt and other penslon b¢ntflis ale phid by publlc fund5 provl(Jed by P3rllameDt, The employer contributlon rate Is ser by ihe Secretary of Stète followin8 ¥heme valuiiions undertaken by the Government ActUèry'5 Department. The m05t recent actuarlal valuatlon ol the TPS WÈ5 propared a5 at 31 March 2016 and Ihe Valuatlon Repart, whlch wa5 publlshed In March 2019, colllirmed Ihot the ornployer conirlbuiion rate for the TPS would Increase from 16.4% to 23.6% from i September 2019. Employers are also required to pay ￿ scheme admIni￿ratIon levy ofO.08% 8lvinB a total employer contrlbuiion rai£ of 23.68%. The 31 fvlarch 2016 Valuation Repori was preparEd in aciordance with the benofits sei out in the scheme re8ulaiions and under the tpproach speclflf d In tho Dlroctlon5, as they appliod ai 5 March 2019. However, thE zs5umprlons were tonsidered and set by the Oepartment for Edu¢atlon prior to tho ruling In ihe'McClaudJSar8eant case, This case hès requlred the courts to conslder c1s¢5 regardlns rhe implementallon oé the 2015 feforffl5 ID Publlc Service Pen51on5 In¢ludin8 the Teacher5, Penslons. On 27 Jun¢ 2019 the Suprerne Couri denled rhe government pefmlsslon 1¢ $ppedl the Courr of Appeal's judgment that Kov¢rnrnent is re5peitln8 tho Caurvs doclsion and has sald It wlll en8a8e fully with the Employment Tribunal Js w@11 as emplaver and member representètlve5 to agree how the dlscrlmlnations wlll bo remodiett. Ttte 8overnmeni ènnounced o 4 February 2021 thal11 Iniond5 to proceed wlth a delerred ¢hol¢e underpin under whlih rnembers will be able to choose elther le8acy or reformed scheme beneflts in respect of th@Ir seNlce durln8 the perlod between l Aprll 2015 and 31 March 2022 at thé polnt thgy become payable. Tle TPS15 subject to a cost Cap mechanlsm whl£h was put In plat¢ to proiect ta%p)yer5 ag?In5t unforeseen changes In scheme costs. Th* Chlef Secrwary to the Treasury, having in 2018 announced that Ihere would be a revlew ¢1 this c051 cap mtch3n15m. In january 2019 3nnaunced a pause to the cosi cap mechanism followill8 the Court 91 Appeal's rullng In Ihe McCloudlSir8einl c15e and untll there Is tertainty about the value of penslons to employees from Aprll 2015 onwards. The pause was Ilfted In lulw 2020, and a consultation w?s18uncled on 24 lune on proposed changes to ihe ¢051 control rnechan15rn following a review by the fjovernmoni Actuary. Followln8 the public consultatlon, the Government have actÈpted throe kcy proposals retofflmended by the Governrnpnt Actuaryi and are almlng 10 Implement these chan8e5 In tlme for the 2020 valuations. In vlew of the above rulin85 and de¢1510DS the assumptlons used In rhe 31 March 2016 Actuarlal Valuatioth may becorne these fln2nciÉl statement5. A definod benefit schem@ lor non-iea¢hlng stalf. Ihe Surrey County Council SuperannuaiioD Sch@me, whleh Is èdministered ill accordance wlth the Local Government Pension Scheme ieonefit5, Membership and Cantributlonsl R¢g¥lallon5 2007, the Locèl Government Pefi51an SihEmo IAdmlni5tratlonl Ae8u131ions 2008 aDd the Local Government 3151 Au8U512021 was £4,096 plus a cornpensatlon paymoni respor.i of or)e employée ta the value of £10,59212019120 f58.9381- At ttte year end EO12019120. £01 wa5 acirued in respect of contributSons to Ihis scheme. Thtr School withdrewfrom tho Surrey County Councll Sup@rannuaiion Scheme durin8 the year, wlth a ceis31ioTh date of 31st August 2021. This crystalllses the School'5 Portlon of tho pension 5chemo doflcit, anrl tho value of rhe Cessatlon 42

Rtsy•l GiammarS¥hg91 Gulldloid Not•5t?th¢Ac¢o¥nt Yo•r¢nd4d 31 July 2022 The net penslon Ilabilitv on the Balance Sheet 1131st july 2021 of £684,000 was calculited on an FRS 102 accountln8 basls ce55ation on 31&t August 2021, which is caliulated J5an update to the rnost receDt full roval￿atran of tho schomo at 3151 Ce¥satlon Valuatlo 311811021 Éo Valuarion YtyJI2019 £000 Fundlnl Posliloth * 31st Au8ust 2021 l¢essatlon datel: Acilve Deferred Pensloner 2,066 517 2,589 5,172 2,Q78 6,272 8,350 Assets 6,596 S.916 1,754 744 ActuarSal Assumptlon$- Flnan<lal Assumptlon.. £000 Pre.retirement P05t- retlrement Salary Incre35es 4.296 4.296 3.2% 2,3% i.o% 3.3% 2,4% A¢tuarlal A55umptlons- Longevlty Assumptlon,. Life expeciancy Irom a8e 65 year5 Current pen5ioner5 Male Female 22,3 14,4 22.1 24.3 Future pÈnsioners Male Èemale 23. 26.1 22.9 25.7 Iv) Changes In the falr value of thg 5¢heme 455ets are 05 lollows., fo 744 78 318 394 1nvesimeni ouiporlorm•nce Ch3nge In market cofidltlon5 M¢vÈ lo te55atlon fundlng a5sumptlons Membelshlp È%perlenee 12,4981 The amouhts Included In the Statom*rt of Flnahclal Actlvltlesare 45 follows.. 2021 £000 2021 £000 Total Amount ChorBed to thp Stalemenl of Flnan¢iil AElivltle5 76 11,0701 905 43

Roy•l GrJrnmarkhpol Gulldlord Notesto the Ac¢ounts YEarollded 31JuI¥ 2022 17. Analy$ls of Nei F￿nds/(Debt) Asat al July 2021 £000 8,631 Asat 3lJu1y 1021 Cash Flow £000 I,A21 Nel cash balanees lQ,052 cred￿or5.. due wlthin one year Loans Adv8nce Fee 3greements 225 Ci¢dltors.' due after Mor￿ than oneyear Loalls Advance Fee ègreements 326 176 3,306 5,224 18. Related party transactlons 1509 Group, re615tered ch3rllV Trumber 1084866, company nurnber 4104101,1s the parent Company of the School, and 311 other companles In the group. Tho 5¢hool Is the sole votinx member ol tho FoJndatlon (The Royal Grammar School, Gulldford Foundationl, re6i5tered charity number 1089955, company number 4232306. The RG5 Guildford International Limited. cornpanv number09633181. RGS Guildford Internatlunal (Dubail LITnltÈd. company DumbÈr 11422203. RGS Gulldlord International Ichlnal Llmitod. company Trumbtr 12104738, RGS Gulldford Enlerprlse5 LIMlted. cornpany number 12248925 ahd RGS Gulldford Intern8iloM31 Iornanl Llmlled, company number 13833679 are all subsldlarles of rhe 1509 Group, L)urln8 the year the Royal Grammar 5(ho9l Gulldlora ¢har6ed tho RGS Guildford Iniornaiional Ltd £89,11712021- E82,6161 relating to IiTTre spent on Internatlonal work. At tbè end of the year RGS Guildford International Ltd owed the School £154,497 12021. É82,6161. DurlnÉ the year rhe Royèl Grammar School Guilijford char8èd the RGS Gulldforrj Iniernatlonal (Duball Lld £51,99512021 £82,616) relating lo tlme spent on Iniernationol work. At the end of the year RG5 GJlldf¢rd Iniern3tlonal IDub3il Ltd owed the School £l,58312021. £126.3611. Ourln8 the year Ihe Roy41 Grammar School GJlldford ¢har8ed rhe RGS Gulldlord Internaii¢n81 Ichlnal Lid É72,47412021 £82,616) reliiing to Ilme spent on International work. At the end of the yoar RGS Gulldford Iniernatlonil Ichlnèl Ltd owed the School £75412021- E86,4511 The Foundatlon translerrod E340,161 of donation5 to the school for the year12021.. £339,500). The FDund3rion's co$ts of £272,51812021.. E274,1311. for both fundra151ng oluTnni work were covered by the School during the yoar. At the End of the yearihe F¢und3tlon owe.d the School £349,41412021.. £21,904?. The khool madp a Ir3nsfe.r lo the Foundatlon of £136,000 In 202212020.. £91,000) for rhe Foundatlon's EndurSn£ 8ursary Fund. ufln8 the yegr Ihere were no donations from ihe Governor5 to RGS and LPS. 19. ¢ontro1 The 1509 Group, re8lstored tharity number 1084866, compony number 4104101, Is the holdlng company of the School, and the ultlmate parent Company of the group. The 8roup ac¢oun15 are avallable from 1509 Grnup re8islered office, at Tfre Roy31 Grammar S¢hool G￿lI010rd, Hl8h Street, Gulldlord, Surrey GUI 3BB. lo. Post BalDntt Sheet Event> On 3rd November 2022 the School repald the Nètwest B8nk Loan In full, èt the balance ouistandln8 at that date of £3,048,410. 44

Roy•1 Gr•mm•r School Gulldford Ntrtestothe kcounts Ye4r ended 31July 2021 21. Statement ol Flnanclal Attlvltles- compavatlveflgur￿ byfvnd type Uirg5trfdgd General Desltnèted £000 £000 Restrlcted £0 E(X)Q In¢amo Iram ¢hrltble Artlvltl•s 21,780 587 248 21,780 587 248 Incornlni frtsm GgD¢lPted Funds Dgnatlons Leiacles io 368 3bll Invistments Income from lTrvestrnenr5 Other Incorne Total Incorn• EX￿￿￿kur• on Ralln8Funds 181 22.607 368 44 Pension Cornrnltment Trnantial costs 76 76 123 EKpendrturi oh Chaiitsbll artlvltl*i 21.620 22,013 T￿•1 £ip•hdllur ETINCOMINGIIOUTGOINGI RESOURCES BEFORE INVESTMENTGAINS 21,747 393 22,140 1.060 l.D37 NÉTINCOMEIIÈXPENDITUREI 1,056 1.036 1.091 905 20 905 NETMOVEMENTIN FUP4DS FOR THEYEIA Fund balanc@5 at l August 2020 FUND BALANCtSat 31 july 1011 3,051 1.787 4,839 1.941 37.2¢3 39,144 35.224 34.It8 ISZ 187 45