Charfty rnglstration number 121J2002
Company r¢glstratlon numbèr 14111232 (England and Wales)
PATE'S GRAMMAR SCHOOL FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

PATE'S GRAMMAR SCHOOL FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Mr G Brndsha
MrWAstham
Mr J Clarko
MrBMay
Mrc Boutton
Mr P Udale
Mr M HoN4ood
Mr M Tum8r
{Appointed 12 O¢tober 2023)
(Appointed 21 N￿mber
20241
(Appolnted 21 November
20241
Mrs S Wade
Charlty number
Company number
1202002
14111232
Richard Pat• School S•nlor L•ad•rnhip Team Mr R Kqacdonad
MTS L Cox
Mr P Lowe
Mis$ K Wast
Mts J Mlllgr-H¢)well
Headmaster
Bursar & Clerk to the Trustees
Deputy Head
Head of Prop
Sgnbr Ml$trg$$ (Deputy Hg•J
& DSL from 1 SgptWn￿r
20231
Head of EYFS. Nursery
Manager & DSL
Assistant Head of Prgp
MTS P Hunte
Mrs R Norri8
Rgghlorgd 0ffl¢o
Pate's Grammar Schcol Foundation
Southern Road
Chellenham
Unrt￿ Kingdom
GL53 9RP
Audltor
AzetsAudit SeNKes
Epsilon House
The Square
Gloucester 8usin88s P
C4oucester
Gloucestershire
Unfted Kingdom
GL3 4AD
B•nk•r4
Bardays Bank Pk
Brrtannla Warehouse
Glouogstsr
Gloucestèrshire
United Kir￿d¢￿Th
GL12EH

PATE'S GRAMMAR SCHOOL FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Sollcltor8
VWV LLP
PO Box 3501
Brist
BS2 2FL

PATE'S GRAMMAR SCHOOL FOUNDATION
CONTENTS
Pag•
Truste8s' r•p4Xt
Independent audilo¢s ￿pOrt
Statement of financial adtvit*s
14-1S
Balan￿ sheet
16
Stslement of cash
17
N¢)te$ to the finanGi81 state￿ents
18-37

PATE'S GRAMMAR SCHOOL FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present thelr8nnu81 report aThJ finanogl stotsments for the year ended 31 August 2024.
The finanual statem8nts have been prepared in a¢¢tsrd*n¢* with the a¢￿u￿tIng polde$ set out in note I lo the
finan¢K81 stalemenls and comply with the charitabl8 compan￿3 goV￿1n9 document Iho Companies A¢i 2¢J)6 and
"Accounting and Repo￿ng by Charitle$'. Ststèment of Recornmended Practice app1Kab￿ to eharitiès pr8p8rin9 their
aGcounts in accordance with the Fin8nual Reporting Slandard appllcable In the UK and RtrpukA￿ of Ireland IFRS
1021- leffectNe 1 January 2019). Foi the purpos0$ of this report, 'Th8 Chariw means Pale's Grammar Scho
FOundat￿n as a whole and'The Foundation- means acliw.lies other than The Richard Pate School.
The original Charity was founded in 1574 and Is reglslered vAlh the Charfty Commls$ion under charity number
1202002-1 Iprevlousty 3117071. On 1 Seplember 2023 all unencumbered assets were transforrgd to Ihe new
in￿rpOrated tharity. P819's Grammar School Foundation urKler thafty nurnber 12021Y)2, incorporated as
company lknited by guarantee in England. company number 14111232. The Tru81ees. Ex8￿8 Officer¥ 8nd
prinapal address of the Charity and partlc(lars of thg CharfV5 profosskjnal advisors are given on the Legoland
Adrninistrative InfomialiDn page.
AudKod prfor year acc4Junt5 10 31 August 2023 for th¥ rniginal thority Inumbgr 1202￿2-1 p￿￿OuS￿ 31170n are
ovailable from the Clerk to the Trustees tsf Pate'8 Gyammar S¢htr)l Fwndallon, The F￿Chard Pate Sthool. s￿J(heM
Road. Cheltenhfjm. GL53 9RP.
Obleclfvm and actlvltl••
chaiitab￿ Ob.
ctives
The alms and oblectives of the Ch￿ty ￿ntinue unthanged as the ad￿￿rnent of educallon and Ihg provts1￿ of
enh8n¢ed academi¢, r)Jrricular and 01her opportunilie5 to the p4iils of The Rithard Pale School and Pate's
Grammar Schod.
In setling obJ'edNes #nd pL4nnlng a¢tMti•s Ihe Trustees have gr￿n careffijl c4>nslderaknn to the Charity
Commission's general guidan¢• on Put41c Benefit.
Th$ bon8fi(ao1igs ofthe Charfly are..
Pats's Grammar Sthod. a stale fvThJedAcaderny"
The Richard Pate S¢hod. a wholty ovmed Independent School:
Persons under the age of 25 who ore or have attended. as pupils. one or both of the S¢hoo18 and are In
need offinanThal assistan¢e for Iho furth8fance of th￿r 8ducaUon'. and
In tha ovent funds are not required by th• abo￿ purpos¢$. Pal8's Hous• Charty.

PATE'S GRAMMAR SCHOOL FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2024
Pat&$ Grammar School
Under ils Charrtab19 Scheme. th8 Charfly may pro￿de the Sthool wtth ¢ertaln land and buildings. and grant funding
for special benefits whth are nd nomalty provided by Govemmenl lunding. Ac￿)rdlngty the Chartty provhjas thg
sit8 and some bulldlngs of Pate's Grammar Sd)ool (an Academy} and, in the yèar in question, has paid granl
funding lo the Grammar S¢hod of £300k lacuued for in p￿￿Ou$ years accounts twl pald In 1hl$ year). The fundlr
¥upport is lo promde assistance to the following 018menls of tha Schoofs prow$ion.'
Outdoor Education
Combined Cadet Force
Saturday StM)rt
Musi¢ Performan￿$
Dr8ma Perfornan
Pastoral support
Counselling
Art Exhibibons
Oxbridgg & Russell Group University and Medlcal Schod support
Support (exam preparatK•nl le$$ons for sludenls
Exlr+CuJTicular transport W5ts
Dthb"ng and public s￿akn"n9
LSbrary support
Infomation and guidance ses$tons fom sti￿nts
Careers advice and support
Shaping Fulwes & Acce55 for disthantaged pup&l$
In the year In quesuon the Foundauon continL￿d to provide an addf(ion81 buikling to Pate's Grammar School in the
fomi of the Foundation office. whi¢h 1$ beiig us¢d a$ Ihe Archive and Devebpmenl office and Teaching Sthool.
Thi$ gnoblg8 tho Sthool lo Ta￿ addlilonal funllng through it8 ahjmni and 4180 operate Teathing Sched.
The prow8lon of the slle and finandal SUPPCAt enables the Govemors lo offer a broad cuffieuium. a wide rangè of
eXtr￿Jrrl¢lJlar activities and cther bentrts not nomally fiJrKl8d by State prow$ion.
Three TN81ees of the Foundation are also Member8 of Pate's Grammar s¢h￿￿1 {Compary Lin￿ed by Guarantee}.
The Riehard Pale Sclmiol
Tho Richard Pat8 Sc*ool is a f8&paying indèpgndgnl s¢hod. The charit￿5 objective with regards to th8 School '
to prowde a firnl class rounded educalK)n. Any s￿￿U8 generated by the Rlchard Pate Schocl forms part of the
fund$ of the Chadty and therefore Is for t￿ furtherance ol its charitable objectives.
At the Rkhard Patt School. finandal 8UPPOrt of £18,512 woMded a 1CIYA bursary for 1 pupil.
Sharing sports facilities is li¥nited by th8 poor dra6rrage of the lurf pitches and the plannlng eons8nt wthith limits th8
use of the flood lights bery no lalerthan 6.Ll)pm.
Cuffont oroxwits ofono orboth offh• Schools
Thg Charfty also promotes the educalK)n of porsons under thè age of 25 wh) are or have attèndèd, as pupils. one
or t¥)th of the S¢hool$ and are Sn need of fin8n481 a56iStance. This assistanc* 15 promded via scholarships,
exh1b￿.on8, bursarlès, malnlenance allowances anil grants, enabling these young people to pursue theiT education,
und¥rtake travel or propar• to undertake a profession, trade or s9￿7￿. In Ihg y9ar urKler wew. 3 pupils and
fomiw pup118 have beneffted from grant support tolalling £5k
Caprtd assistance to beneficiary Sthools
The need for capilal a5SiStance al the School$ is dealt wnh by Ihe approval of blds madè to the Foundatlon. typicaly
on a prolect by project basls. In the last 30 years {since 1994) £3.94m has been donJted frtrr ¢api181 projects and
£4.42m revenue support at Pate's Grammar School la totsl of £8.36Sm}. And, 0￿r a 8lmlar wlod the Rlclwd
Pate Sthool has r8ceNod n8t capital and revènuè support of £0.140m.

PATE'S GRAMM.AR SCHOOL FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 AUGusf2024
In this financial ￿ar, thg Foundation incurred capital expenditLwe of £75k12023.' £22k) atThe Rithard Pale Sdv)ol.
Fundrwxing
The School operates fundraising adivthes it5ell or sometimes publici5es tharitable ￿NItIeS of the Schoc4's PTA.
Parents and pupils are encouraged lo lake part but it is purely vduntary and no pressure is ever pul on any membor
ol the eommunity to parbeApate. As such the Charity foll(pws the relevant fundraisiNJ Standards as set out by the
Fundraislng Regu￿01. Th8 Sch¢)ol has not r9Cgfv9d any wnplaints about rts fvndrai&ng actI￿t￿$. The S¢h¢)ol ts
satisfitd Ihol il doe$ not ￿9¢? any undu8 prnssur• on ils puFil$, $laff. p8r•nlal ¢ommunity or vulnorablè individuals
to ￿n1r11xrte to fundralslng ￿t￿ltIeS.
The Sehool had a number of ¢harflablÈ ln11kq￿ves durfng the year lundral8lng É3.010 and Ma￿n￿ food donalons.
The following tharities were supp)rted during Ihe year
Chelienham Community ProJ￿t
Chelienham Opon Door
Trussell Trust Food Bank
Astel hou$9
St Faiths
Little Princess Trust
Gloucestershife Mdlfe
Sue Ryder
Str•t•glc r•port
Tho description under the headin9s"Achievements and perfomiance" and"Financial rwi8vf meet Ihe company law
requwements forthe Trustees lo pre¥ent a *r8tegiG re￿Irt.
A¢hlgvwngnts •nd perfom¥n¢•
Th& Foutmlation eonlinues to devote itself suC￿SfUlty aThl eX￿￿¥￿y to ils three prinrypal charitable objective&
We $•¥k lo pmide $t•bilty lo ths operating environmonl$ Ctf both Sthool$, to aww thtr oxp8rien¢&d prof*s$ional
managemènt wo¥Aded by the Headmasters and Ihelr senlor te￿8 to delrver excellence In educatlonal prow850n.
The academic, sporting and cuttural achievements al both Schools conllnue lo demonstrate what can be achleved
where 8tandard8 are demanding and expectalN)ns high.
Ttustges continu8 lo target support lo indNiduals in need, and lo expand outreach support.
The Foundation oims to Opgrale gs effiwntty 06 po6slAo in ordgrlo maximise grants to its ben8fi¢iaries.
Pro
The FO￿datiOn continues to wovhJ¢ use of the Foundathon Office lo Pate's Grammar Sthool who use it as Ihdr
D6velopmenl Office. This is a resou[￿ that 18 used for fundraisi￿. archive and teaching 3clKNJI act1w1￿8. This 18 k)
line with the Foundathon'$ objecllve stsled last year lo ¢ontinue lo support the Grammw Sd)ool in wy way to
malntaln rts P051t*Jn as a high performing schwl in an eNronrnenl of restric*ed bLbJgel8.
At the Rithard Pale School capital expenditure was in(yJrred on upgrading the schwl'¥ lloodlighls to LEDS. roof
works and repair and rnainlenanc8 lo the bulding.
Tha Foundation contInL￿$ lo work wtth bo1h schools to undwstand Ih8lr $lrate9tc dgVglopm9nt plans $0 that fuluTg
fvnding may be plann•d (and accJJmlat•dl for larger scale eapbtal proi8c¢$.

PATE'S GRAMMAR SCHOOL FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
{CONTINUED)
FOR THE YEAR EAIDED 31 AUGUST2024
Revonug su
rttoPa
's Granmar S¢hwl
A commitment lo revenue support lo Pale's Grammar Schod la81 academic year. and pa￿￿ in this a¢adpmic year
has enabled the Foundation to gnhan¢è Ihe Sthool's qducational environment.
Despiie the significant pressur88 on Pate's Grammar School. GCSE and A-Le¥el results ￿ntINe lo be exc8118nl.
putting the School arrongsl the lop ranked state schools In the county.
During th* year in question. Iho Sthool was inspected by Ofsled for 1he flr8t Ilme in 11 years and wore fvdged
OutstaTh34ig In all areas.
ration and P&rtom)ance of the ￿￿￿rd P
Scho
The Flthard Pal8 Sthool o)ntinues to perform well. The lo¢al market is increa8lngty Compet￿Ve conlinued
changes to 10¢81 cornpelitors over the last 12 morths. Pupil nurnbgT5 at the stsrt of the year were IThv8r th
budgeted bul Increased throughout the year. Fin8nckg1 performanc• this y8ar is significanlty below initial expotstion
due rnain￿ lo $laffing ￿Sts. in particular thè n88d for supply cover through the year. In addrtion the Scho)l invèsted
in enhancèd IT support as it cAJmmene•d o project to improve th• Schook IT network Security. Legal wsts were
aiso hlgh.
pup￿ OLrt¢omès o)ntwiue to be ex¢ellenl, both In acadern￿ and eXtr￿TrICUlar areas. t)vring thè yèar in qUest￿n
4WA of Year 6 pupifs achlavad grammar school place5,' places were offered to all pu￿1$ app￿Ing for Independent
s¢hods. There were also a $+3ntkant nUM￿r of sporting and academic S￿CeSS9$ throughout the year.
In JU￿ 2024 tho S¢hool was inspecled by the Indépsndenl Schoc4's Inspe¢torats under Ihe new inspect
fiamework for whith the S¢hool rèt£ived a vary po$ilive report. This irtspection covered all of the operations of thg
Sthool from tga¢Nng and Itaming, sgfgguwdlng and health and Safrty. Trustees were dellghted ihe out¢om•
of the inspe¢tion.
Fe* in¢r•ases were appl￿1 in the Tr)mi81 tsshbn al the start oflhe academ1¢ year (communicated lo parents by the
end ofthe prevh)us Spring Temil. Th¢ School continued lo monitor ils ¢ash p0s￿On. F99 ￿lIe￿￿on was gcod.
F￿ndation Mod8misation and In¢0
tion
Tm5te8S Woro ddl9hled that the Foundalion mod9m1￿llon projed wa8 ￿Mpleted and from 1 September 2023 the
Foundation operat¢d •$ a compwby limited by guarants8.
The Foundaloon Is fortunate to ha￿ an interested and infomi•d group of Trustees who ￿ve wlllngty of Iholr tlY*. I
want to thank them all fortheir commltment and eonlribLrtions.
Th8 Trustees had medngs thj￿ng the year (which induded a slratogy day). Th•r& aré t4¥0 pennanent
¢tsmmittees'. thgAudlt Commhtee which meets al least biannualty to review finanaal and risk poliuos and considers
the accounts in detad, and th¢ Rithard Pata committ￿ whi¢h fve times and governs The R￿hard Pale School.
During the yogr Ihe Trustees have monitored the financoal posllion of both S¢hool8. remey￿d ReguL410ry
Complianc8, including health, safety and and safeguarding. Trustees ¢onllnu8 lo conskler carefuty the
chari￿s publi¢ benefft with carefijl consideration of Ihe tharilable obj8ds undèrwhith they operate.

PATE'S GRAMMAR SCHOOL FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2024
Fin#ncial r•vi•w
Thè a¢¢ounls report a decrease in overall funds of£70.94612023.' irKfeaso of £179.941).
In the year lo 31 August 2024, thfy Rid)ard Pate School madè o revénue deficit of £94.92012023: £123.011 delkW.
Capital expenditure totalling £74.76412023.' £21,831) was also inujrrod.
In total £300k of revenue $uppNt wa5 thjnated to Patg's Grammar SL*ool durfng thè ￿ar in questbjn. A
commitn￿nI for the f¢llowing year of É300k was made on 3 OCto￿r 2024 Iposbyear endl.
Thè Rè¥trictèd Funds ded￿ated to tha prOvis￿n of awards IrKreased by È8.061 12023.. dacrease £46.521). aftor an
incrèase in capfftal value of £5.99912023'. increase £1,774). The Charity generated an unr8strict8d d8ffieit of £79.(X)7
<2023". surplus of £228,462). After funding of the two sthools, the unrestricted reserves of the Charity d8cffj¥sed by
£79,00712023: inryeasod by £228.462)
The balance Sheet sh￿￿$ Net Current Assets of £1.176.362 comparod Wblh Net Current A8set3 of £734.167 in the
provlous yaar.
Investments
and rformance
Under the Trusl Dged. th9 Charty has Ihe power lo knwst in any way the Trustees wlsh s￿80t to the Trustse Act
2000.
Th8 Twsle8s, having r¢gard to the liquKIty req￿r8rnents of op8ralng thg Richaril Pate School, the réquirement to
pay funds Committed lo Pate's Giammar Schod and to the r&s8tvgs polity, have O￿Tated a policy of ensurng that
fvnds arg reason8bty accessi￿e. That said, during the year in quesllon funds wore held in treasury deposits in order
to in¢rease interest income.
Funds vthich are not required in the short term are Invostwj in Chaiinco and Charishare UK unit lo provlde a
balan¢e of capital growth and investment in¢omo. inve3lmenls Iwd a net incr8ase of£S.999 P023'. in¢rease
of £1.7741 (including unrealsed antl reallsed galn81 In thè year and achieved on income rotum of 3.5% {2023.'
3.5%).

PATE'S GRAM,MAR SCHOOL FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
{CONTINUED}
FOR THE YEAR ENDED 31 AUGUST 2024
The prinop81 obSectlve8 of Pat8,8 Grammar School FoundatKJn requlre the Trustee$ to sustain and support The
Richard Pale Sthool, arKI provide land and bulldlngs and ffinancial $upptsrt lo Pale's Grammar Sthool over and
at*)ve that proiAded by Stste or Local Authority fundiny. The Foundation also sUPPOrts th• edUCat￿n of p&rson$
￿￿19T the age of 25 who have attanded ether of the School& The Foundalion 1$ ¢ommitted lo support the
maintenance of aiademic a￿1 •ducalional eX¢•len￿ at both Sdwl$.
The Trustegs plan expendlturo over a period of at leasl 5 years. 9ft9n with an accumLtlalon perl¢xJ ahèad of any
large commitment towards Capital expendriure to one of tho ben8ficaary 8eh¢xJl$ albef( more recently the need has
beon of 8 revenue support nature and therefore there has not been a signiknnt bulld up of capltal. At the end ofthis
reporting period the charty held total funds of £4,276.908 whl¢h inC￿deS reStr￿ted funds of £66k12023". £58kl and
funds that can onty be reallsed by disposing of tangible fixed assets of £3.366m12023= £3.518ml. AccorditvJly, 8fter
making allowances for r•strid•d fund$ arvj tangible fued asyets the c*MTity hokl$ u¢w¢th¢W, frge r08eNts of
£845k12023.' £772kl.
is the Foundation'8 pol* lo malnlaln reserves al a level which wil ensure ￿ntinuty of the thari￿s oporal*)ns
through moro dtffieutt trading trJndttsons. The Tnjstees have delemlned that to proled against short or medium term
Ilu¢tuation$ in pupil numbers and exp8n8es. Iha eantral fw8s1 of minimuffl cash and other liquKI assgts (Iver Ihg
ngxt 12 months 8hould be al leasl £570k.
In Marth 2024 the Foundation introduc•d a Fees in Ath#nce Stheme for par•nls wishing to Poy Sth¢)ol Fee5 for
fubjre years which 8¢oounts for Ihe Increase In cr8ditor8 amounts falling due Wbthin 1 year arHI falling duE after nb)re
than one year.
Al Oper*￿TraI costs for the Ridlard Pate Schod wgrg cover9d with Income genèrated by the RKhard Pate School.
and ¢ash b8Jance3 are monitored on a monthty basis to ansurè that all expendTture is payable wilh hoallhy po$￿Ve
a¥h balances al th8 month end.
The level of ovgrall rnservos arg rgvigwed 8nNa1￿, and cash reseNe$ actual and forecast are reViev￿d by
Trustees at every ordinary mseting. These revi￿ inform all ojmmitinent deci$ions made.

PATE'S GRAFIIMAR SCHOOL FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Plans for perlods
Govemance
The Charity eonlinues to COn6id8r its tharttabl& tst48tas to 8nsur8 th81 they are approwlalely fdknw8d.
The Scho¢As
Both Schools both are moving fomard in particular preparlng strateglc plans for tho nexi 5 to 10 years. Trusloes
hope lo ¢ontinue to provide flnan&al support to the Sch¢)018 where it adds r&01 value, in Part￿Ular Trustees ar¢ keen
forthis to indude widening a¢¢ess, 4nd outrnach athib&s.
Pales Grdmmarschool
Pale's Grammar S¢hool is mowng forward wth ambitious plans to ensure that its finance8 ￿main sustainable for
the medium term. In addition. the Sch(N)I h88 undertaken a La)mprehensiv8 r8W8w of its admkssions policy for
S8ptemb&r 2026. The Foundallon L% vary supportive of the prfndples of the proposad refom relating to enr￿uraging
mre students from the local arèa and those that are disadvantaged. Foundatlon hopes to continue to work vthh thè
School to support its a¢*vibe$, whllst weseNng the undarlwng prfnuples of the original Founder.
Th8 Rth8rd Pate Scl
For the current year, the Sch￿1 Is faced with g numb&r of chalenging hea(h¥fjnd$. Indudin9 thè inlrodudic*n of VAT
on S¢hod Fees from January 2025. removal of business rates rdlaf from April 2025 and the In(76ase In employer's
national ￿SuranCe from April 2025. This is in addlllon lo th& ro¢enl increas8 in 8mployets Tea¢hers' Pensk)n
c4Jntributions. The ojrrerrt Head has also announced his retirem8nt after 19 yews of seNtee and therefore th8
Sch)ol will ha￿ a new Head in post in Sgptember 21Y25.
The Foundation is confidonl that the Sthool wiu ojnlinuo to Ihrfve deswte the hea(IwOnds and is delighted that thfs
will be led by th& new Head whD impressed both staff and Trustees d￿n9 th• r8¢ruiiment proGess. The Foundalsgn
is wothing hard lo ensurg that the SL*ool continuos lo roview ils finanrns to remaln sustainable for Iho Short
medlum ark1 knng lenn. ond rwn•n$ commrtted to supporting the through th18 dIffic￿l trans￿on.
Trustees are committed lo maintainirrfJ the Sthool's high educational and pastor81 stsndards as refie¢ted In the June
2024 ISI Inspecti￿ report. The asset whith is the School sit8 and buiklings ks of an a9& whlch means Ihat Iha
Foundation expgcis lo continuè to soa an Incts888 in repair and rènew81 expendrtur8 in oftjer to preseNa this
slgnificant assèt.
B&n8fi1
As part ol the revlew of Govemanee Truylees will continue lo revivw and art1￿￿￿9 MS Contritr￿I￿n to swety V•lth
rgference lo the Charity Cornmls$lon8 guNlance on publc b&nefil.
Strudurn. govem•n¢e and m•nagement
vemin
Documerrt
The Charity is govemed by ItsArUd&8 OfAsso￿att0n dated 17 Mty 2022 and #mènded on 31 August 2023.

PATE'S GRAMMAR SCHOOL FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT>
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2024
The Trustees. who ar• 8180 the dlfft(*ors for the purpose of company law, and who served duriThJ thg y9ar and w lo
the date of signature ofthe finan￿al statements were..
Mr G Bradshaw
Mrs J Wlllams
Mr WAscham
MrJ Clarke
MrBMay
Mrs J Wnn
Mrs H H¢)oper
Mr C Bo￿lOn
Mr P Udale
Mr M HoNaJod
Mr M Turner
Mrs S Wade
(Resign￿ 11 January 20251
IResign8d 1 September2023)
{R¢&gr￿d 20 January 2025)
{Appoinl8d 12 O¢tober 20231
(Appointed 21 Novomber 2024)
(Appoknted 21 Novembgr20241
Trustee C
99$
The strudure of the Charity, wlh ils saparatè Trustee Committge for the Rithard Pate Sthool Is gxplalned below,
logetherwNh Infomialion on the mèmbers of each Committee are appointed to office.
&A cinlmenl
The Charlty Trustees are oppolnted 48 follows..
7 Nomi
. Four appolnted by Corpus Christi Charity. Oxford. one by the l>)vernor5 of Pate's
Grammar School, ttvo by Chemenham 8orou9h Counal. Each oppoinlment is mad8 ts a t8rm of fwr years
a￿L)rdir@ to the Ordinary practice oftr)8 appointing body.
. ￿£￿￿￿TrUstees- Srx cwted Trustees are each appointed for a tsrm offour years by a roso￿tion of
Trustees.
inin
ndln
Twslees receNe a Comprehens￿ pack of Infomiallon Conceming the Gurrenl 8nd hi8lorS¢ activit￿$ of the
Foundation together with ad￿Ce and gUIdar￿ appropriate for a Charity Truslge. Thg updated Induction Pollcy also
requires them lo racaiva a Health & Safety and Safeguarding induction at the Richwd Patè Sch(MJl. togth•r with
copies of Keepng Children Safe in Education and the Sthool's Safeguarding Policy.
Trusloes ara nO￿￿¢d of wopriale tralnlng prowded by the profgsslonal organi8at*Jns the Foundation 1$ a member
of. indudingAGBIS. TnJstee8 are also provÈded with infomial*)n from relevant training attgnded by the Clerk.
DeasKJn Ma
Dedsknn8 are made by the Full F¢)undatk)n Board and a majority vote.
d Pale School Comm
The Trustees are lfjgafty responslbl8 for the overall management and conb))l of both Pate's Grammar School
Foundation and Tho Rid)•rd Pate School. Thg RTthard Pale School CommNtee, ts)mposed of six Tw$tee8,
undertakes the role of goveming body for the school and meets five times ￿r year. Rgports from thal Commrttee
are subs8quenty received by the fvll Found8t*Jn Tru8te&s who meet five Umes per year.
The day to day wnning of tho Richard Pale School 15 delegatg(I lo the Headmaster. supported by the Senlor
Leadership Team. The day to day runnitvj of the Foundation is d￿￿41ed to the Cbrk to Trustses. Both the
H9￿Master and Ihe Cleth attend mgotlngs Of￿(* Committee.

PATE'S GRAMMAR SCHOOL FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Pa & ￿MUneralKIn of the charf( '8 ke mana emenl
sonn81
Pay and remuneralKJn for the Headmaster of thg Rid)ard Pg18 School and the Bursar and Clerk to the Trustees is
set annl￿llY by agreemgnl ol the Trusteas in conjunction with the annual apprais81 process. Pay is sel with
refe￿nce Its the Teath•rs Leadership pay $c8le and take3 into account industy recognise4J ￿n￿marking
tnformation.
Gowm8n¢e and Mana
mènt
The Tru$lee$ are rè8ponsible for the managemgnt of the risks faced by the Foundabon and the sch￿￿. Detailed
nsiderations of risk ar8 del8gatod to th& H8atha$tsr and Clgth. Risks are identrfied. ass85S8d and contrcl$
established on an ongoing basis.
The key contro]s used by the Charty It￿(KI•..
Formal agandas for all Commiita• and Board activity.,
Oetsikd lems of reference for the Sthool Committee.,
Straleglc planning, budgèting and management accounlwig;
Established organi5alional stru¢auTe and bnes of reporting.,
Devebpmènt and impl8mentalion offomial pcliugs.,
Clear aulhorisation and approval levols.,
Regular r￿eW of hearth and safety policy & W￿dules.
Regular rewew of saf¢guardiTVJ polw & prc6edure8'.
Audit committ88 annual risk revth.
Regular training.,
TnJ$lees wbth designated areas of responsljilty (such as H•alth & S81•ty, Safeguarding and Finance).
Connoctod chaiitses
The following are corfflectsd eharibes and organisallons wth whl¢h the Foundation Q>OFeTates in pursuit of its
hartlabk oblethvgs..
Pate Charty, Corpus Chilsti Charity, Oxfor(I
Pat*,$ Grammar S¢htsol {Academy), Princess Elizabeth ￿. Chott9nham, Gl)uceslgTshlre
Pate House Charlty 16Alblon Slreel Chellenham. Gloucestershir
Material tr8ns8Ctions ￿th conn8ded charilias and nalure of the relationships are set out in R8lal8d Pa
Transact*Jns note to the accounts.

PATE'S GRAMMAR SCHOOL FOUNDATION
TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
stat•m•nt of Trusts￿. respon$lblllll•s
The Tru$lee$, who arg also the directors of Pate's Grammar School Foundation for the purpose of Company kny. are
responsible for prèparing the Trustees. Report and financial staternents In accordance with applicable law and
Unitod KingdomAccountir￿ Slandards (United lfjngdom GeneralyAccepted A¢¢ounling Practice).
Company Law requlres the Trustees to prèpare financAal statamants for &¥¢h financial year whi¢h gfvg a Iwe and
falr view of the stale ol affairs of the charttable c4Jmpany aThJ of the incomlng resour¢e$ and 4PF4i¢ation of
resources, induding tha incom& and expenditure, of tho Gharilable company for that year.
In preparing those flnancial stslements, the Trusteos gre requlred to:
- sfjl8Ct sultable aowunthlg pc4ithe5 and then appty thèrn con6iStentty.'
- observe the methods and principlas Charities SORP.,
- make judgements ond gstimales that are reasonatle aThJ prudent., and
prep¥e Ihe finan¢i81 statements on the going eonc•m basi8 unless il is inapprcyrlale lo presurne that the
harftablo company will Continue in operalion.
The TTU8tees ar8 responst*le for keeping adequate ac£ounling Tecord$ that disdose with reasonabl8 accuracy at
any time the financial posttlon of tha Chantab￿ ￿rnpany and enable them lo ensure that the finanrial st81ements
¢omply ¥￿th the Companies Ad 2006. They are also iesponsible fo¥ safeguarding th8 assgts of the tharitat48
Company and herbce for tsking re880nable steps for the prev¢ntSon and detedton of fraud and other irrtrgvlaritres.
TheT
' report. inthding the $tr8tegi¢ reFQrt. was approvad by the Board ofTrus199S.
Mr G Bradshaw
Ch•lrnMn
19 May 2025
10-

PATE'S GRAMMAR SCHOOL FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TOTHE TRUSTEES OF PATE'S GRAMMAR SCHOOL FOUNDATION
Oplnlon
We have audited Iho finan¢g1 statements ol Pate's Grammar S¢hool Foundation (the 'tharitablg o)mpany'l for Ihe
year ended 31 Augusl 2024 whlth comprf8e the slalement of financial aclivrbes, thg balaneo shègt, the $lalernenl of
cash flows and nol8s lo the finanaal statements. including 81gnrflcant accounting poli¢i08. The finanryal reporting
framework that has been appl￿d in their pr8paration 1$ awAi¢able law and Unit9d Kln9dom AcrAunting Standards,
including Finan¢ral Reporttng &andard 102 The Finan￿1 R8poth'ng Stsndard a￿leBbI& tin th& UK and Republic of
ireland (United Kingdom GeneralyAcc8ptgd A￿Un￿n9 Practte).
In ow Op￿lon, the financiql $tstements'.
glve a true and fair view of the Slate of the charltable companls affairs as at 31 August 2024 and of ts
in￿mm9 resources and app¥catlon of fesources. lor the year th9n ended;
havg been propedy prepared in awordanc8 wlth Kingdom Generalty Ac¢eptsd Actounlng Pr&tice'.
and
have baen pr•par*d in accordance wrfh the rgqulrgments of the Companies Act 2008.
Ba$ls for 4)pinion
We conducted our audtt In a¢cordan¢e Mlh Intemalional Stsndard8 on Auditing (UK) IISAS {UK)l and applicabl8
law. Our r8sponsibiliti&s under those 5tamdaTds are further described in the Audrforfs r8sponslt)Illties for the audit of
the fin8no81s18ttrments 8ectlon of our report. W& are independent of th8 charitablè ¢ompany in accordance with Ihe
glhl¢al requirements that are relevant to our a(tdM of the financial slatemenls in Ihe UK Indudlng the FRC'S Ethical
Standa￿. and we h8ve fLthn8d our olhar 8thi¢al reSpon￿bIlitI.8S in aG￿rdanCe v•ilh these req￿rementS. We balieve
that th6 audK èvidence we have obtsined 1$ suffldent and appyopriate to yov¥Je * ba￿3 for wr opinion.
Conclusiom relaling to going ¢on¢em
In audiling the financAal statèm8nts, wa hav• conduded thal the TTUStees' use of the gc4ng wicem bo$18 of
accounlng In th6 préparation of the finan¢ial 3laternents is appropriatè.
Based on thè work we have perfomied, we have not idantif￿d any malefial unCert￿ntiO$ relallng lo events or
0nd￿On8 that, individualty or ccAleetS¥6ty. may cast signifi¢anl doubl on the charrtable company's 8bilty to ￿lTrUe
a8 a g￿n9 conc8m for a p•riod of at least morths from when Ihe firAnc401 slatgmonts aro authorised for
issue.
I￿r reSp￿Sibil￿$S and the r6sponstilili8s of thfj Trustees with respgct to goln9 corKem are descvibed in thg
rg18vont 8ectlon8 of Ihl8 r8pJrt.
Other Infornmtlon
Tho olher infomwtion oJmpriwJ the information induded in the annual report other than the ￿nancIal stat9m9n18
and our audttof$ report thereon. ￿ TN$tee$ are Tesponslble for the olher Information g)ntained within th& annual
report. Our opinion on the flnanclal statements ijoes not cover th8 0th9f InformalK*n and we do not expres$ any fomi
of as5urartt condusion thereon. Our responsibilty is to read thè other infornation and, in dolng so, consider
%thetheT the other information Is matgrfelly In￿nSISte￿I wlth the finanrjal ststemenls or our knth￿e￿ge obtsined In
the COUTse of the audit or oth&wsè aP￿al$ to be materially mi$stsled. 11 we identify suth materigl in￿￿1Sten¢18S
or apparènt matèrial misstslements, we arè requlred lo detennine whether this gives rise to a matérial misstst•ment
in the financAal statem￿ts th￿￿￿￿8$. W, based on tha work we havè perfornied. we o)ndude Ih8t there L8 a
malerlal mLsstalemenl ofthis other irthalron, w8 ar8 requir8d to report that facL
hav8 nothing to rnport In IIMS reyard.
Matters on which * are requlr•d to rnport by ¢x￿P¢10n
È have nothing lo report In fegpect of Ihe followlng mattpr8 In relation lo which the Ch8rille8 {Ac£ounts and
Raports) RegLlalbJn$ 2CQ8 require us to rewt lo you If, In our opinion..
the informatKffi given kn the firw)aal staternents is inconsistent In any material respecl wth Ihfj Trust￿.
report.. èr
suffityent a¢xounting r8cords ha¥0 Th)t b8•n kept; or
th8 finanual statsments are not in agreemenl wlth the accounting re￿rds. or
we have not [￿Ned all the w)fomwtK)n and explanations w& require for our audiL
11

PATE'S GRAMMAR SCHOOL FOUNDATION
INDEpENDE￿r AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF PATE'S GRAMMAR SCHOOL FOUNDATION
R•spoMlbllill•¥ of Trust••s
As explainad more in the stalemenl of Trustees, resptsn8ibilitses. the Trustees, who are 8150 the directors of the
chartiable ¢ompany for the purpose of company law. are responslblg for the preparalion of the fmancial slalements
and for betng salisffied that they give a tnJ8 and falr Mew, and for such intemal control as the Trustees deterniine Is
n8c8ssary lo enakAe the preparation ol finanLxal staternents that are free from material misstatement. whether due
to fr8ud or error. In preparing th¥ finan¢ial stalernenls. Ihe Truste¥s are responsible for assgssing tha tharitable
companYs ability to CAJnllnue as a going concern. disdosing. as 8ppllcable. matters related to going concern and
using the going concam bass of accounting unless the Trusleos efthtr intend to liquidate the charitablè company or
to e4ase Opera1h￿s. or have no reallsllc allematNe bul to do so.
AudltoV• mpomibililios for th• audtt of th• financlal stst•monts
Wg hav& b8en appointed as auditor under sfjdion 144 of the chari1￿5 At# 2011 and report in accc*dance with the
Act and relevant reguLgtions m*Je or having èffe¢* thereunder.
Our objectwe8 are to obtain raasonablo as$urance aboLrt ￿eth81 the financaal slate￿ntS a$ a whcle am free fr￿￿
material misststement, whether due to fraud or error, and lo Issu8 an audrtorfs report that indudos tsur opini1￿.
Reascmable assLranGe Is a high ltrvel of assuranek tr*Jt 18 not a guarantee that an audit cy)nducted in ar%ordance
th ISAS (UK) wfll ahvays detect a material misstatèm&nt when it exists. Misslalements can arise from fraud or
error and ar¢ Considered maierlal rf. individually oi in tho aggregate. they cou￿j reasonably be expected to in￿OnC4
the economK docisions of users taken on thg ba￿5 ofthese finanoal ststoments.
A further desL¥iPtion of our rosponsibilities is available on Ihg Financial R?portlng Councd's wgbsit& at-. https=Il
¥￿v.frC.org.U￿j9u￿t0rSresp0n￿blllt￿8. This description forms part of our auditorfs report.
Ext•nt to ￿th1¢h the auditwas consld•r8d eap4bl• of d•tscting Irrogul•rld•s, In¢ludlng fraud
Irr9gularities, indu¢Jing fraud, are in$tan¢e8 of n0￿CoMpliance with 18ws and reguL8tions. We design woc•dur•s in
ling wlh our responsibilities, ouuinfjd abo¥e and on the Flnandal Rewting Counca's websitg. to detect material
nlsstslements in respect of inegularilies. In￿dIng fr*ud.
We obtaln and update our underst8nding of the •ntity, its •¢tNithes, ts control 9nvlronmenl, and likety firture
developments. indudiro In relalion lo the legal and re9ulat¢)ry framework applicable and how the entty is complying
with that framewcrfk Based on this understandSng, we identify and assess the rfsks of Mate￿al mtsstalement ofthe
financial statements. whether due lo fraud or error. design and perform audi( pro¢eduffjs responsive to those rfsks.
aThJ obtsln audit emdènce that is sufvent a￿j appropiialè lo prowde a basis for our opknlon. This indud
consideration oftho r￿k of acts by the entity that were contrary to appllcable laws and regulations. indudSng fraud.
In response to the risk of irr99tlarft￿ and non-compliance wlth laws and roguktions. including fro￿￿. ￿ d￿gned
c¢edure5 whlch Induded..
Enquiry of man8gèment and those Ch￿Qd wFth govemance around actUo1 and potential liligalK)n and
daims as well 9$ actual. suspecled and alleged fraud,.
Revi9wing mlnutes of meeting5 of Ihosg ¢h41ged wih gov8man¢x"
Assessing the oxterrt of wnplIa￿ wth the laws and ￿gUlationS conskIe￿￿ to have a i*rect malwial
ffe¢t on the financial statements or the operations ofthe gntity ttsough enquiry and inspecbon.,
Rwewing ffnanaal statement disdosures and testing to supporting documentatKJn to asse$$ eomplar
wilh applicable laws and regulations.,
Perfomibng audit work ov¢r th* risk of management bias and override ol o)ntro15. Induding tg8th'n9 01
joumal entries and ¢)ther adlusknents for appropriaten888, evaluatirw the business ralionole of signifirarrt
tran5aclions outsid& the normal course of busln9$$ and reviewing arLounling eslSmate8 for indicator5 of
potentio1 bias.
Because of the inherent limitslions of an audit, th•ro 1$ a ri$k that we will not dglect all irregularilies, induding tho$9
loading lo a materlgl m18Statement in the finanaal statements or noTreomplian¢e wf(h regulatEon. This risk
incr8as8s the mL¥è that cornpliance with a Law or ￿￿Ul*lOn 18 rerrNMd fr¢)m the @vents anij transact¢cffls refiected
in the fingn¢i81 statements, as we wll be less likely to become awar• of in$tan¢es of non-complancg. The d$k of
not detedng a malwlal misslaternenl resulliThJ from fraud Is higher than for one resutbng from error. as fraud may
Invdve Collusion, foryery. intentional omissions, mi$reFYe6errtatTrons, or th& override of inlemal c¢xrtrol,
12-

PATE'S GRAMMAR SCHOOL FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF PATE'S GRAMMAR SCHOOL FOUNDATION
Othèr matter¥
Under the Companies Act 20Ck8. Ihe tharitablg company wa$ èxempt from audit for the period ended 31 August
21)23. As a wn8equence, the ffinanraal statements of the chawitable o)mpany for the period ended 31 August 2023
wer8 unaudited.
On 1 September 2023 the ass¥ts. liolylib'•$ and operations of Pale's Gran￿)8r Schcol Foundalion thwity ltharrty
number 121Y2CO2-11 were transferred Into the cknarita￿e company.. thè prindples of meryer accounting have been
adopted to account for this transoctK)n.
The dlrectors remaSn able to take advantage of the exemp￿On from audit availatle ￿der se¢tion 477 of the
Companres Ad 2006 for the pwiod ￿ded 31 August 2024, howevw an audit ha5 1)9gn porfonned In ￿ldanc¥
th the chariti.es Aca 2011.
e of our report
This report is made soldy to tha charty'$ tNste¢s, as a boty. in acGordan¢g with port 4 of the Charitie8 {Aceounts
and Reports} Regulation$ 2008. Our 8udil work ha8 been undertaken so that we might slate to the tharrvs trusleas
those matt¢rs we are rgqulred to stale to thern in an auditorfs report and for no other purp08è. To the fvllest extent
pennitted by law. we do not 3￿Pt or a58ume responsibilrty lo anyone other than the charity and th? tharivs
tru¥le¢$ 08 a ￿ly, our a￿jItWOrt. for thi8 report. or forthe OFinions we have fom)ed.
Aw hthF£
23 May 2025
Az•ts Audit Service#
Chart•r•d Aecountants
Epsllon House
The Square
Gknuce$ter Bu$ings$ Park
GIoLKestor
GIoLKe8ler¥hiro
Unhed Klngdom
GL34AD
Azels Authi SeMcè¥ is eligible for appointment as audkor of Ihe charitablg Company by ¥irtue of its eligibility for
appointmanl a$ auditor of a coNwny under section 1212 oflh& Corr¥>anlesAct 20C6.
13-

PATE'S GRAMMAR SCHOOL FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST2024
urrentflnancl#l y￿r
The Richavd Found•llon Rejtricted
P*te School
Cho+
funds
Total
Totsl
2024
Z024
2024
2024
Nol•s
Inco
IL.
Grants and donatrons
rIta￿e acti￿1￿$
Sthod fees
Andllary trading
Imiestments
10,000
418.392
428.392
396.624
3.376.217
82,512
19,155
3.376.217
82,512
45.020
3.119.234
129.848
18,130
23,803
Total InGomg
3,487.884
442.195
2,￿2 3.932,141
3,663.836
ndltum on:
Charitable gctMlie$
3,586,694
426,282
4.012,976
3,485,
Net gainsl{lossas) on inv•$tmenl$ 11
3.890
5,999
9.889
1.774
N•1 {¢utyoingllincomkng rnsour¢•s
b•fore transfers
<94,9201
15,913
8,061
(70,9461
179.941
Gross transfers betsveen fund$
94,920
(94.W201
N•t mov•mgnt In fund•
(79,W7)
8,C61
(70.946)
179.941
Fund balanc*$ at 1 September 2023
4.2￿,071
57.783 4.347,854
4,167,913
Fund balancos At 31 August 2024
4.211.084
85,B44 4,276,908
4.347,854
The 5tat8m•nt offinanaal a¢tivib•s includes all gav￿ and b)ssos rery4nlsed In the year.
All In¢*me and expenditure darl￿ from continuing act
The slalemenl of )Inancial act￿711e¥ al￿ Complies WM) Ihe requlremènts for an inegm• and expenditure account
uThJer the Compani8$ Act 21Xk3.
14-

PATE'S GRAMMAR SCHOOL FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
Prlorfinan¢i&l y•ar
Th• Richard Found•tion Rutslct•d
P•te School
Charfty
nd*
Total
2023
2023
2023
2023
Not•8
Grants and dOna￿on8
Charitable
S¢hool fees
Anall8ry tradirvJ
Investments
396,624
.624
3,119,234
129,846
7.354
3,119.234
129,848
18,130
7.379
3,397
Total In¢om•
3,258,436 404,003
3.397 3,863,836
Charitable actI￿ties
3,379,447
106.222
3,485.089
N•t g•inslO0550sl on invaskngnts
11
1.774
1.774
Not (outyolngVln¢omlng rO￿UrceS before tran•forn
{123.011)
297,781
5,171
179,941
Gross transfers betsyeen fund$
123,011
171.3191
151,692)
M•t mov•m•nt in fvnds
{46,5211
179.941
Fund balances at 1 Seplefflber 2(122
4.C63.609
104.304 4,167,913
Fund balancè& at 31 August 2023
4,290.071
57.783 4,347,854
15-

PATE'S GRAMMAR SCHOOL FOUNDATION
BALANCE SHEET
ASAT31AUGusf2024
2024
2023
Flx•d ￿*ets
TangSble a66ets
Investments
12
13
3,365,977
1￿.013
3.517.563
,124
3.471.990
3.613.687
Currnnt I￿•￿
Debtors
Ca8h at bank and in harKI
14
1.240.640
2,103.857
675,917
1,253.717
3.344.297
1.929.634
Cr•dltor¥: •mwnl¥ hlliry du• wlthln
on• y•ar
16
,167,935)
11.195.46n
Nèt current assats
1,176.362
734.167
Totrl a8$ets less current liablttl•s
4,648,352
4,347.854
CYedltor8: amounts falllng duè after
morn th•n y•ar
1371.444)
N•t u8•tJ
4.276,908
4,347.854
Incorno fund¥
R08tr1&èd funds
Unrestrlcted Fund8
22
23
65.844
4,211.064
57.783
4,290,071
4,276,908
4.347.854
The company is entitl8d lo the ex&mplK)n from th• audit requirement containod In $8¢Uon 477 of the Compani8sA
2(￿. for the year ended 31 August 2024. although an audlt has been carrted oul und¥r s•¢lion 144 oflhe Charibes
Ad2011.
The dlrectors a¢kthYladg8 ihèir reBponsbilities for COM￿￿9 with the requlrements of the Companlfj$ Ad 20C6
with r¢$po¢t lo accounting records and Iho preparatlon of fin8nrAal statèments.
The members ha￿ not required the wmpany to obtsin an audit of its financ#al statements under the requlremgnl$
of the Companles Act 20¢￿, fo( thè year in quèstion in accordancg with se¢tlon 476.
Thefi
19 May 2025
81 statements w&re apwoved by the TrustO85 on .........................
Mr G Bradshaw
Company r•glslrntlon numb•r 14111232

PATE'S GRAMMAR SCHOOL FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGusf2024
2024
2023
Ci¥h Ilow• from op•rntlng athltle•
Cash gw*ratod from operations
879.8B4
89,284
Invtstlng actlvldg8
Purd)a8e of tangible fixed as6ets
Inveslmenl income received
(T4,764}
45,020
121,831)
18.130
N•t cash us•d In In¥Mtlng •¢tiviti¢•
129,744)
13,701}
N•t Gash us•d In flnan¢ing *ctlvltl•s
N•t Incrnaso In ca8h and cuh •qulv•hnts
849,940
85,583
Cash and cash gquivalents at beglnning of year
1.253.717
1,168,134
Ca•h and ￿•h equivalents at •nd oly••r
2,103,857
1.253,717
17-

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST2024
Ac¢ountlng pollcles
Charity informallon
P81è'$ Grammar Sd￿1 FoLmdatlon Is a prwale compgny Ilmltod by guarantee in¢orporatgd in England and
Wales. The address of 11$ register&J office i¥ Pat8.$ Gr•nm8r School FOunda1￿n, Southem Road.
Chemenham. United Kin9dtsm. GL53 9RP.
1.1 Accountlng ¢onvonllon
The financAal statements have been prepared in afxordancè with the charftable compan￿5 gov8miNJ
docaJm•nt.
Companies Act 2006 and 'Ac¢c￿nting and Reporting by Charities: Statem&nl of
Recommentled Pra¢b"¢a appluble to charities preparing their accounts in accordance wrth th8 Financ
Reporting Standard applicable In the UK and ReputAic of Ireland {FRS 1021 leffechve 1 January 2019)" The
charIta￿e company is a Publ￿ Ban*fft Entity as definad by FRS 1Q.
The financial slal8ments are prepared in slerfing, which 1$ the functional wrrency of the tharhable company.
Monetary amounts in these financial $t*lemenis ar8 rounded to the nearest £.
The financa81 $tslements have been pr&pared under the hlslorfcal cost eonvention. modrfied to indude certaln
financlal instrurnents al fair val￿. The prinopal ac£ounling Pol￿•$ adopted are sel out b8fow.
18-

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
A¢¢ountlng poll¢lgs
IContlnued}
Meryer ac¢ountlng
The financial slalgments represent the cunbl￿d finand81 posfth)n of Pale's Grnmmar S¢hoo1 Foundation
(Company R•gi$lration Number 14111232 and Chaiity Numbèr 1202002) aThJ P810'8 Gramrnar School
Foundation, a linked ch811ty (Charity Number 1202002-1}.
On I September 2023 the ass8ts, liabdilies ¥nd operalNJns of Palg's Grammar Sthool Foundalion ¢h8rity
were tran8fèrred into Pate's Grgmmar Sthool Foundation Charitab￿ Ix>mp8ny. In accordance wth the SORP,
as the conditions of this reconstruction b8iThJ treated os a merger weré rnet. the princwile$ of meiger
acco￿￿￿9 have been adopted lo account forlhis transactK*n.
Curr•nt R•portlng Perfod
PGSF chthrity
PGSF CLG PGSF CLG
Pre4krger Pr•-P*r Post41gry•r
Totsl
Total Income
Total Exp8ThJiture
Nel ir￿Orne/(exP0n￿lIUre)
Other gainsluosses)
Nel movement in funds
3,932,141
4.012,976
{80.835)
9,889
170,946)
3,932.141
4.012.976
180,8351
(70,9481
Prevlous Reporting P•rlod
PGSF ¢lwrity
PGSF CLG
Totsl
Total Income
Total Expenditure
Nel Incomel{expendilure}
Othar galn81110ssè8)
Net movament In lund8
3,663.836
3.485.669
178.167
1.774
179.941
3.663.836
3.485,869
178,187
1.774
179.941
Total lunds brought forwaryl
Total fund8 carrS•d for￿￿1
4,167.913
4,347.864
4,167.913
4,347,854
An*fyBis of NotAs8•ts atth• d•ts of M•ry•r
PGSF Ch•rlty PGSF CLG Total
NotA#s•ts
4,347,854
4.347.854
RyM¢nt•d ty..
Unrestr1d￿ FurKI$
Restrkted Fund$
Totsl Fund8
4.290.071
57.783
4J47.854
4.290,071
57,783
4347.8S4
1.2 Golry con¢em
At the timè of approwng the financAal stat8menl$, the Trustees have a reasonab￿ expectation that tho
¢haritoNe c￿mpanY has adèquate resouwes lo ¢onllnue In operat￿nal existence for the foreseeabl8 ftrtur•.
Thus the Trustses continue to adopt the goln9 0)ncem basi$ of 8ccountiNJ in ptsparing the ffinan¢i81
19-

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng poli¢l•s
IContinu•dl
1J Chorftable funds
Unrestricted funds We 8vaS18blg for use at dlscretlon of the TNslee$ in further&Ke of thèir charilat4e
9¢Uves.
Restricted funds are suble¢t to SFrfrfic o)ndilion8 by donors a8 to how they may be used. Thè purposÈy and
use$ of tho restrN#e(I fun¢Js aw Get out in Ihe notes to the financial statements.
1A Ineomlng Y•sour¢
Ir￿me is iecognlsed when the charitable company 1$ l¢galty fjnllled to tt after ￿Y rérfomiartt Cor￿((K)n$
have been mel. the amounts can be measufod rellabty, and it Is pfobaNe that ineomè wil be rèceived.
F￿ r•¢olv•blo
Fees rece￿able are accounted for in Ihe period in wlyth income is due. Fees rowvable are stated after
deilu¢ting allowances, schola￿hlpS and other rernission5 granted by the Schc<*l. Fees reGeNed for 8￿CatIon
to be probided in ffiJture Yea￿ carried forward as deferred in￿me.
Cash donations are recO￿ls9d on rece￿1. Other donations 8ra r8cognisgd on¢0 the charrtabl& company has
been nolifjed of the donalion. unles$ p•rfom)anc• ¢ondrfion$ wuire deferraj ol the amount. Inccffi8 tax
recoverable in relation to donath)ns recglved under Glft or deeds of covenant is rècognised al the lime of
th8 donalion.
Donat￿n$ and grants recgwd for the general purposes of the School are ¢yedited to unrestrioted funds.
DonalK)n$ and grants subject to sperAfic wishes ol tho donors ar8 carried to rèlevant r8strtct8d fu￿1$. in
kbnd ar6 valuèd al estimated open market value al the date of gfft. in the ￿se of assets for reten￿on or
consumption. or at the ￿1￿6 to the SGknI in cose of donated So￿￿95 or faclilies.
Income from govemment and othor grants. is reL¥Jgnisod wh8n the chanty ha$ ￿t￿¢MOnt to fund4 any
perfomance condTlions attached lo the grants have been mel. (( is PrOba￿e that the income wil be receNed
and the amount can be measwed rfjliabty.
1.5 Resour¢•# èxpondod
Expenditure is iecognised once there 18 a legal or con8lruc¥ve obl￿alon to Iransfw eo)nomic benefft to
thlrd paty, M Is probable lI￿t a transfèr ol eCt￿¢)m￿ benefts will be required in settlement, and Ihe amount of
the obligation can be measured reliabty. Expenditure is all0￿ed to expèns8 h8ading either on a dir8ct cost
basis, or apportioned according lo time S￿nt
E¥peThJiiure Is dassffled by advty. The costs of each activity are made up of the totsl of dlrect costs and
shared costs. ineluding Supp￿ ¢o$ts involvfjd in undortaknng oath activity. Direct costs attsibulabkn to a single
octNity are allocated diTe¢lty lo that activlty. Shared ¢osls which contribute to more than one activty and
suppori costs which are not attribUts￿0 to a singlg a¢tivity are apportioned betr￿en those activities on a basls
consislenl with the use of resources. centr￿ staff ¢osls are *lk)cated on the basis of tsmè spent, and
depraaation Charges are alk)¢aled on the porlic¥) of the assel's use.
Expendlturo
The costs In¢Lbrr¢d in lh& g&n•ral ruMFng of Ihe Charsty have been included under Operating costs of the
Found8tk)n Charity. Thesè are all those costs In¢urred by thè Chartty wh￿h are not directty attributable lo the
charIta￿e objects oftho Charlty.
.Th8 Irrecoverable element ofVAT is induded with the item of expense to which11 relate$.
Grants awarded are expensèd As soon as they beeome legal or operaiional ¢ommSlm&nts. GmrnanrA costs
conwri8è the costs of i>JmFtying wilh cifflstitutbjnal ond slatutory requSrements.
Teachlng costs
Suppli8s of gamgs gqLupmgnt. books, stallonory and sundry materials are written off wfian the expendilure is
incurred.
-20-

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
A¢¢ountlng pollc
(con￿nUed1
1.6 Tangible fix•d ass•ts
Tangible fixed a55ets aro inrbally measurad at cost and wbs•quenJy mea$ured al ¢osl Of valuation, nel of
I*￿(1*tion and any irnpairment losses.
Depreciation iy Tecognised so as to writ8 off Ihe cost or valu*w)n of o$$ets1gss their residual values over their
uselul live8 on the follo￿n9 bases. Depreciation is ¢h8rged from the month of atrJuisilh)n.
Freehokl land and buildiryy
2.5%- 1W stsaighl Iln¥ ￿r annurn
the ass8ts that 8re purchased by the FoundalFon on behall of
Patg's Grammar S¢htr)18re fully vmitten off in the year of
puthse. {see FixedA5set note for add￿onal comm•ntsl.
25% straight lino par annum
2￿A straight Ilne pw annum
Equipment
Motor ￿h1￿¥S
The gain or Ios$ arI￿ng orb the dl8posal of an 888et is deternNned a8 the dffl•ren(t belween the sae
FfCta8ds and ¢8rrying v8lue oftho 88set, and is recognised in the slatgmgnt offtsndal aLXMles.
1.7 Flx•d au81 Inv•¥tsn•nts
Flxed assèt investment8 are inrbany measured at trafts8d￿n price excfudlng transac11on Costs, ond are
subsequently measLKed at fair value at each reporttng date. Transaction costs are expensed as inwrred.
Changes in fair value ￿e reeogni%ed in othar M¢ognised gains and 1085es except lo the extent ihat a gwn
reverses a loss prawously rwnised In net kncome expenditurè. or a loss exeeeds the acLumulaled g8ins
r8cognis8d in équity., such gain$ and lo$$ are r•¢ogni6ed in net incomell&w8ndkure) for Ihg ygar. Chawes In
fair valug are allocated to the apwopriale Fund accordlng to the'ovmership" of tha und*iw assels.
1J knpaIrn￿nt of fixèd as••ts
Al each reporting end date. th& thaiitable ¢onw￿Y the carrying amounts of its tangible assets 10
delermlne whether there is any i￿licatiOn that thosè assets have suffered an impairrr*nt bss. If any such
indKation e￿Sts, fv W￿ratIo amount of the asset is 6$timatsd in order to d8terrrine the exlont of the
impairnant loss lif any).
Intsn9ible assets wth Indeflnite usefijl lives an¢J intangiblg assets nol yet aval18b￿ for are te818d for
Impaimenl annualty. an¢J Wt￿0¥erthere is #n indintion that tho 8SSet may ￿ imp8ired.
1.9 Cash •nd ¢a$h equlval•nts
Cash and ca$h eqUNa￿nts in¢ludg ¢8sh in hand. depo8i18 held at call wrth banks. olher short-term IiquK
investm8nts with original maturibes of Ihree month8 or less. and bank overdrafts. Bank ov8rdraft$ are sknyn
within borrowings in eJJrrent liabl111￿.
1.10 Flnan¢l•l In¥ivum•nl•
Financial instruments are recognis8(l in th8 th8ntable eompanY8 balance sheet when th• chaiitabl• ¢orfpany
becomgs paty lo the contraclual provlslons of the instrument.
Financial assets and liabllitles are offset. with the net amounts presenteil In the finaneJal statemènts, when
ther¢ is a legally enfOr￿able fight lo sel off th8 rec>)gnised ¥nounts and the￿ 18 an intention to stttt18 on a
net bas68 orto reali88 the a88et aThJ 8etUe the liats'lity simullanoousty.
B•si¢ fin•nelal ass•ts
Basi¢ financial a38ets, vthth include debtors and cash and bank balan￿$, are Initlalty measured It
Ir8ns8dion prlce Indudbng transaction rnsts are subse(w8ntty ¢arrled al amortlsed cost using the
efffjd￿e interest melhod unles5 the arrangement constltules 8 finanang Iransadion, whew tho transa(knn is
measured at the vabjè tsf the future receipts discount￿ at 4 market rate of interest. Financial assets
d•ssified as receNable Mlhin one year are nol ￿0￿Sed.
21-

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMEKrs (coKriNUED)
FOR THE YEAR ENDED 31 AUGUST 2024
A¢¢ounllng poll¢les
IContlnu•d)
Basi¢ fin•nelal Mablllfl•s
88sic ffinancial liabil￿e$. Ind￿n9 ¢rodltlX$ and bar* loans are tnltlally r8cogni8ed al transaction price unle$8
the ariangement consliiules a finandng transaction, wher• th8 debt in$lrument is measured al the present
value of the futurg paym8nts dis¢wnled at a market rate of InleMI. Flnancial Sabilitie5 dassified as payable
within one year ar* not amortised.
Debt instruments aro sUbsequen￿Y carrl8d al amNWsed c¥)gt, using the effective irrterg¥t rate mgthod.
Trad8 creditors are obligation5 to p8y for wds or 8ervlce8 that have been aCqUi￿d In the ordlnary course of
operalrons from supplior5. Amounts payabla are classified as rajrront Ilabililias if payment is due within one
yeai or less. If not. they are presented as n￿-¢UNent liabiliti'es. Trade ueditoTs are recognised inrtiaNy at
tran6adion price and 5ubsequ9nlly measured al amorli8ed cost using the gff8(alve Interest method.
D•re¢ognlUon of ffnan¢lalHabHIII•s
Finana81 liabilities are der•¢ogriseil when Ihe th81itable companl$ ¢ontraciual obligalions expir• or arfj
discharged or can￿lIed.
1.11 Taxatlon
The Charity is exempt for tax on Income and gains falling ￿thin secbon 505 of the Taxes Act 1988 or se¢tion
252 of the Taxatlon of Chargeat40 Gain8Act 1W2 to th& extent that these are applied lo tts ¢hori1obb obthects.
1.12 Employe• b•n•fft
The costs of $hort-lem employee benefits a￿ recognised as ¥ liabilty and an 8xp8ns•. unl8ss thos•
are requirgd lo bg recogni8ed as part of the cosi of sto¢k or llxed ass&ls.
Tha o)st of any unusèd hO￿daY entiuement is T￿gnISed In the pe￿trI in vthieh th• èmploy¢o's seNces are
vad.
Temination benefits are reoogni8ed immwjlalety 86 an expense when the tharltable ￿panY is
demonstrably commilt8d to tam￿nat* tlx •mF4oyThent of an gnwloyeg or to pwde terThMnalKJn benefi1&

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng poH¢l•s
{Continuod
1.13 R•lir•m•Tht ￿nofft$
The Rlthard Pale School contributes lo the Teathern. Pension Sc*eme fTPVI. This is a d•fin•d benefit
sth*mtr 8nd the ass8ls are hekl $¢paralety from those of Ihg Charfty.
The TPS is an unfuTrJod schemè and cijnlributions are calpjlaled to Epread the cost of pensions ov•r
employees. working liv¢s with the charitabl8 company in a way that thg pension ¢osl is a substanth'glty
level percenlgge of current and future pensionable payroll. The contribubons are detemiin8d by lh•
Gov8mment Actuary based on quadremlal valuations using a piospactive unk crndit rnelhod. The TPS Ss an
unfunded mutti-employer scheme with no undeAying assets to assign employers. Consgquenlly. the
TPS is treated as a defined contrtbu￿on schemè for a￿untIl9 purposes and the contribulions are
reeogni$ed in Ihe peri¢)d to wh￿h th8y ￿late.
The Charity also ¢ontrfbu19s to personal penS￿n schgmgs for nofvte8thing 8t8ff Ihese contrilxrtlons Ire
acci)unled for in the year thèy are payable.
1.14 L•as•5
Rentals payabl8 undor opgratlng leases. induding any l&a8e Incentrves receNéd, are charged to Incorne on a
8tralght Ilne basis overthe tem of Ihe rel8vant laasa.
1.1S Link•d eh•iitie•
Pale's Grammar School Foundation is linkgd with a charity of ihe same name Icharity number 1202(rf)2-1).
The trustees of th• charitable company and thè linked tharity ar8 Ihe same. The lunds of the linked charity
e nil and therefore no further disdosure of the Ilnkod charlty Is presented In thèse statemonts.
Crftlcal I￿OuntIng estlmatss and Judg•mtnts
In the applicafjiyn of Ihe tharitable compony'¥ a¢rx)unting poluos, th8 Tr￿lee6 avg required to make
judgemenls. 8stim8le$ and as8umpllons about the ¢arrying amount of assets 8nd I18b￿lI1es that ale nol readly
apparent from other SOUT¢es. The 8slimate$ and associated assumpbons are based on hlslorfcal ￿poli8n¢t
and other la¢tor8 that are consNJered lo be rdevanL Actual 16sull$ may d￿er from these eslimal•s.
The 08tlmate8 and underfying gs$umpllon8 are rewew•d on an ungoing basis. Revi$ion$ to accfjunting
estimates are recognb5ed In the period in which the e¥limate Os revI8ed where thg w$w)n 8ffects On￿ that
perlod, or in the per￿ ol the revision and luture period$ where the re￿slon affocts b¢)th cuffenl aTrJ future
periods.
There Vd nothing to report in th18 regard.

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Grdnts and donatlon*
Tol•l
Total
2024
2023
Grants & donatitins
428,392
3￿,024
£418,392 12023.. £YJ6,6241 of grants and donations represwts amounts r￿1Ved by Thg FOund8th￿ 8S a
revenue endowment und&r a deed dated 1586. The purpoge of thè endowment th¥ mainter￿nCe of
8thJcation at bctlh Pate's Grammar SclKJoI and the Rid)ard Pate School. 11 1$ converted Into Micom8 on its
recaipt and ha8 therefore not been wesenled as 8 Separate eThJowTn8nl fund but as an unreslrided ing)me
fvnd.
Charltabl8 actlvlt
School f
An¢lkry
tradlng
2024
Total
Ancllhry
tradlng
2023
Total
2023
2023
Gros6 Sthool fg9S
Regi8tration6
Discounts
ncklary tradkng
3.422,842
5.575
(52.CWI
3.422,642
5,575
{52.0(￿)
82.512
3.186.898
6.025
173,669)
3.186,898
6,025
(73.6891
129.848
82,512
129,848
3.376,217
82.512 3.458,729
3.119.234
129.848 3,249.082
Invathnts
The Rlehard Foundation R•tslrkt•d
Pate School
Ch•rtty
fvnds
Totsl
2024
Total
2023
Investment portfolk)
Interest rocew on cash i*posit8
2.(￿2
3.$31
41.489
3,397
14.733
19,155
19.155
23,803
2,062
45,020
18,130
For th• y•ar•nd•d 31 Augu¥t 2023
7,379
3.397
18.130
-24-

PATE'S GRAMMAR SCHOOL FOUNDATION
IIOTES TO THE FINANCIAL STATEMENTS (COI￿INVEDl
FOR THE YEAR EPIDED 31 AUGUST2024
Support
2Q24
•UFWrt
24
115,e
84,829 2,7¥042
228,
s5.rtsi 1.050.514
Z.W.a7Q
42.$79
f87.e01
182.319
187.7Y5
Oth¢r
128.470
165,482
s.rth 3CQ.O
9,SgD
2,716.Q71
128.470
370,068 301,LW
121W 4.012.976
J,485.É69
2.n6.071
116A70 370,W
121212 4￿11￿7￿
1465

PATES GRAMMAR SCHOOL FOUNDATION
MOTES TO THE FINANCIALSTATEMENTS ICONTINUED}
FOR THE YEAR EPIDED 31AUGUST2024
C*4rllDklD
F•rth•y•v•￿d•é IIAwtywt2
To
2121
vlth•
1381.936
I￿.143
a8.X1 2M8,370
1.452 227.7Ce
38A79 ts>.590
18lWfy
IWJ.021
CthBr
183.co)
117.1C6
t58.B36
2.619,434
117.1Cfj
374
268.Q78

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Gov•rn*nce costs
G0￿man¢¥ ¢osts totallwvj £55,188 were inr￿rrfd in the p8rb)d12023: £37.356).
None of the Trustees {or any persons C￿nnected wtih them) recefved any remunèration or bèneffts from the
arftabla 0)mpary during thg year.
Audltof$ v•mun•ratlon
The anatysbs of auditorfs remuneration induded wlhln goveman¢e costs Fs a8
foNow$."
Fees payabl• to tho ¢￿rI1•bIg compaty$ audltor.
2024
2023
Audit ofthg L*arit8b￿ 1￿MpanY'S annual 8¢xounts
13.508
12.250
Non4udlt servlces
All other nomudrt seNceg
5.436
2,708
27-

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2024
10 Employe
umbgr of •mploy•
Th& avorage monthly number of gmployees during the year was..
2024
Numb•r
2023
Numb•r
Schdastic
Administrat
31
51
43
82
Employm•nt costs
2024
2023
ge$ and s#l¥ries
Social $8cwity ¢o$l$
Other pension o)sts
2.182.825
211,719
341,498
2,051,200
199.332
307,838
2.736.042
2.558.370
The number of emthees whose annual remunérati￿ W8¥ £60,OCQ or more
were..
2024
Number
2013
Numbor
£60.001-£70,000
£70,001-£80.1)00
£90.OOCk£iW,000
£100,00￿ll0.000
11 N•t gain￿{10*1£•D on inTfttslments
iknreJt￿ted Restricted
nd•
fund¥
2024
20
Total R•strict•d
fund8
2023
2024
Revaluation ol investments
3,890
9.889
1.TT4
-28-

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 AUGUST 2024
12 Tanglble fix•d a88•ts
Frwhold land EtyAp￿lAtst0[vIh￿l*s
and butwinp
T(*41
Cost
Al 1 Seplernber 2023
Addili(#)s
0.765.527
74.784
584,460
31,941
7,381,928
74.764
At 31 Au9usI 2024
6,840.291
584,460
31.941
7,456.692
D•pr•¢latlon and knyim*nt
At 1 Septamber 2023
Depre￿allOn charged in the year
3,358.617
183,771
473.807
42.579
31,941
3,864,365
228.350
Al 31 August 2024
3.542.388
516.386
31.941
4,090.715
Carrylng amount
Al 31 August 2024
3.297.903
68,074
3.365,9TT
At 31 August 2023
3,406.910
110.653
3.517,563
The charitab￿ Company provida$ ongoing $UPPDrt to Pate's Grammar Sthool. S¢h¢¥Jl formaty adwed
Voluntary Aided Status on 1 September 1999 and subsèquenuy c%>nverted lo an Academy on 1 Dè¢amb¢r
2010.
Pale'8 GT8mm8r School Fwndalion charty own6 fand upon whith Pate's Grammar School has been bjl
Through it$ ¢ommilmenl to support the &hool. thg Charttabl6 Comp8ny has not onty provpJed revenue
8UPPOrt but also capllal SUp￿rt by the fLmding of ass•ts that have been built on this land for the use of the
School. In the last 29 years. the totsl of thls captsl frxpendituro on bèhaN of thé Sthool has amoLmled to
£3.94m.
th effect from 1 December 2010, Pale's Grammar Schoc4 adoptad Academy sta￿$ in ac￿rdance w(th
Sthedule 1 to tre Acadomies Act 2010. As part of that process, Pata's Gramm8r School Foundalion has
granted a lo￿ lea3e over the land on which the assets have bean bjitt to Pat¥,$ Grammar School at a
pèprweun rént. The Charity has treat￿ these asséts as having been dlsposed of for £Nil proceeds during
the finanrAal year 2011112. Any dlsposlllon5 In ihe ftrtur8 will be a$ pwscribod by SecapJn8 37 and 39 of the
Charil*s Act 2011.
The permanenuy 8ndowad land was not indud¢d Sn the tsansfer of assets from Patg's Grammar Scho
Foundation charity ref•r8nc4d in note 1.1 and therefore has been retsined in the thar5ty.

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 AUGUST2024
13 Flxed 48s•I Investsnents
L15t•d
Invoslrnnts
Co¥t or valuation
Al 1 September 2023
Val￿tk}n than9es
98,124
9.889
At 31 August 2024
1Cffj,013
C•rrying th￿Unt
At 31 Augus121f24
106.013
At 31 Auwsl 2023
96,124
2024
2023
In￿stmentS at fair valug comprise..
Blathod( Charitles UK Bond Fund A Inc
81ackrod( Charities UK Equity FundA In
11,625
94,388
11.193
84.931
106,013
96.124
14 Debtovs
2024
2023
Amounts falling due wilhin on• y•ar.
Trado dèbtors
Prepayments acuued inceffle
1.205,789
34,871
643,353
1.240.640
675,917
15 C•¥h at bank and in hand
2024
Current accwnts
Deposit accounts
Cash
2.052.602
50,530
1,￿￿,636
525
2.103.657
1,253,717

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
16 Crodilorn." amounts falling du• wlthln on• y•ar
2024
2023
Other tsxatbon and soclal securfty
Fees received in advance
Advance fee payments undèr contract
Trade credittir
Other txedilors
Accruals
46.858
1.452.129
521.839
77.271
49.275
20,563
48,743
1,013.733
17
19
39.519
42,317
53,155
2,187.935
1,195,467
17 Fo98 rKelved Sn advan
The m0￿ment in fees re￿Ned in advance is as follows:
2024
2023
Foes received in advance as at 31 August 2023
Less amounts recognised during the ye•r
Amounts received in Iht y•ar in rèlalh)n to future financial y8aTS
1,013.733
(1,013.733)
1,452.129
948,422
1948,422)
1.013,733
F••$ I•￿1v•d in advancè as at 31 August 2024
1,452,129
1,013,733
18 Cv•dltorn: amounts falling du• aft•r mor• than on• y••r
2024
Advance fee payments undgr contrac*
19
371,444
-31-

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
19 Advanc• f•• paynmnts undor ¢ontrd¢t
Paignts may enter Into a contract lo pay the School up to the equlvalent of 7 years. tuitbjn in advance. subject
to ¢urrent tem$ and c1)nd￿On8. Assuming pupils will rwain in the School. a¢fvanc8 feos wil be aWl8d as
ft>ll¢Ms.'
2024
2023
Aftar 5 y•ars
Mfilhin 2 10 5 years
32.854
338,59]
371,444
521,839
th￿ 1 year
893.283
The baance represents a¢¢rued IK*bilty under th8 rL*ntracL The movements du￿n9 year were..
Balan￿ al 1 Septgmbor 2023
New corrtracts
893,283
893283
Amounts utlised in payment of fo0$
Balanc8 at 31 A(wsl 2024
893,283
20 Op•rntiny l•as• commllm•nts
Al thg reporUrwJ ond date Ihe charitable 0￿panY had outslondiry commrtments for lulur8 nmnimum lèase
paymerbls under non4an¢ellabfe operating leases, which fall duè 8s folkn..
2024
2023
Within one year
Btheen and five yoars
2,919
e.333
1,032
9,252
1,032
21 Fln•n¢l•l ¢on*nitrnerrt•. guarnnt••8 and c(¥rtlng•nt Il•bllh
As at 31 August 2024, there We￿ no guar8nlees. contingenci•s and ¢ommitments {2023". none} ofh8r than tha
opeiallng lease commitments referred lo abovg.

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TOTHE FINANCLAL STATEAIENTS (CONTINUED}
Fclg fiiE YEAR ENDED $1 AUGUST2024
22 RMlrkt•dfvnds
•mMtknlund
2•
71•
01.1791
1711
47,
19,3>3
IS79
4.259
,477
1,771
5.187
57.421
01.5141
RP8
195
158
132
4.471
s,1
<51.e921
1.714

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TOTHE FINANCIAL STATEMENTS ICONnNUED)
FOR THE YEAR ENDED 31AUQUST2024
Mw•mDnt lThfund•
•*•A•mbw
4.(￿.1￿7 3,qBO.439 IJ.485.6
51.ts2 43K.011 3.*W.079 14,011976)
9,￿ 4211.C

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
24 Analy41$ of n•taM•ts b•tw••n fun
UnrnsM¢t¢d Re•trl¢t•d
lund
fund¥
2024
2024
Total Unre51rKted Restrided
funds
funds
2023
2023
Totsl
2024
2023
Fund balances at 31
Augus12024 are
represented by..
Tanglble assets
Investments
Current ass￿sI11￿9b1til￿$I
Long tenn liabilrfies
3.365,977
43,433
1,173.098
1371,4441
3.365,977 3,517,563
62,580
106.013
3,264 1.176.362
1371,4441
3,517,563
98.124
734.187
56.581
1.202
732.965
4,211.064
65.844 4.276,908 4.290.071
57.783 4,347.854

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR ThIE YEAR ENDED 31 AUGusf2024
25 P•n•lon and èSmllar ol)Ilgatlon¥
Teaching Staff
The Charity pathpates in the Teacherg, Penslon Scheme Clh8 TPSI for its teathing stsff. Thg TPS 18 a
ytatutory, contribulory, dèffined bertefit stheme, govemed by the Teachers. Pension Schgme Reguklons
2014. All l&athers have the option to opt out of the TPS following enrolment.
The TPS 18 unfurKled scheme to whith both the memb8r and empk)yer m8kos t{￿lributiOns, a5 4
perc8ntsge of salary. These contributions are crodited to the Exchequer. ReliTrmonl and other pen￿on
benefits are patd by public funds prowded by Pai&amenL
Valuatlon of the T￿Cher*. P•n¥ion S¢hemo
The Governmant Actuary, using nom)al actU8ri31 pri￿pIeS. conthjds a formal actuarial reviaw of the TPS In
accordance with th¢ Public Seryree Pensions (Valuatkjns aThJ Employer Cost Cap} txrections 2014 published
by HM Treasury every 4 years. The aim of the review is to specify the levèl of fvlure eonlribulions. Actuarial
s¢heme valuation8 are dependerrt on as5urnpt￿nS ab)ut tho value of futur8 costs. d8￿gn of benefits and
many other factors. The latest ￿arial valuation of the TPS was carried out as al 31 Marth 2020. The
valuth.on report was published by the Department for Educallon on 27 October 2023, w6th the SCAPE rale,
sel by HMT. applyiThJ a nOtiC￿al Investmont ratum bas•J on 1.7% above the rate of CPI.
The key elemenls of the valuatlon and subsequent ¢on8ultal•)n are".
employer conlributK)n rat¥$ $8t al 28.68% of pensionabltr pay IlnGluding a 0.08% gmployor
admintslration charge). Thls 1$ an ItKre8e of 5% in employer contributions and the cost cJ)ntrol r•$ult
is such that no change in memb9r beneffts is needed.
tot¥1 sd)eme liabilities (pensions cuffenlly in payment and the est*mated Cost of ftrtur& berLeffts> for
seNce Its the effectNe date of £262,000 million, and notional ass•ts (estimated future ¢ontrfbulOons
together wlh the notsonal investments held at the valuatlon datel of £222,200 million giking a ntsttonal
payl S￿¢& deT￿lt Of£39.8￿ milion.
The resuY( of this valuat￿n wl b8 impl•m8nt•d from 1 Awil 2024.The next valuation resull is dug to bo
im￿emented from 1 April 2028.
The employ•¢s pension ojsts ￿ld to the TPS in the period amount8d to £290.023 (2023: £263,CQ41.
ContribuOon8 totallbng £35,475 were payable to the ffijnd al the year end (2023.. £30,870}.
A Copy of the valuatlon report and $upportlrYJ ￿0￿mentation is on Ihe Teachers. pens￿n$ website.
Under the definitiorb8 set out in FRS 102. tho TPS is an unfunded multb•mploy•r p•n$ion 8theme. The
Chadlablè Company has &counted for its contributions to the scheme a3 if tt were a defined O)nlrftr￿lknft
8theme. The Charitable Company has set out above the Infomiation avaflablè on the scheme.
Non-T•aehlng Stoff Ponslon S¢h•m•
The Charity also runs a srth8mè for its non-tèa¢hi)g staff, is a d2fined ojntribution scheme. Thfj rml for
Ihe period rgpresents the S¢hool's cs)ntribulion8 lo the Stheffle of £51.475 I￿)23. £44.834). Contrltrthons
totaling £NII were payabb to the lknrKI al the year end12023.' £Nil).
26 Relatod party trnmactlo
Remuneratlon of k•y manauem•nt pernonnèl
Th& remuFwab'on of key management personnel is as folryws.
2024
2023
Aggregats cOmp8nsal￿n
615,359
644.768

PATE'S GRAMMAR SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
latsd party ￿nsac110n$
(Contlnugdl
Olher r•latsd party transactlons
Th8 Charitable Company rgcaivèd endowment Incom6 of £418.39212023.. £396,625) frorn Thg Pate Charlty
which is administered by Corpus Chri8ti College, Oxford. By vrlu8 of this adIr￿nistra1wo rola and th8 right the
College has to appdnt fourTrusleès, the Comege is a related paty.
P81e's Grammar sd￿01 Is a related party due to the common m&Nthrs of the goveming bod￿5. During Ih
yoar the Charitable Company commrttad to a £300,OtX) (2023.. £Nlf) ¢JonaUon lo Pale's Grammar School for
revenu8 aThJ caprtal support whth was also paid during the year lo 31 August 2024.
The Charltable Company purchased an annual licen￿ and Support package from Leam Wth Us Lld for £7LJJ
during thè year {2023.. £Nill. A1rustee of the Charitable Company is a Dirador at th8 company. The trustees
approved the pur¢ha8e.
27 Cash gan•r•t￿ from op•r4tlon¥
2024
2023
(DoficitysurFAus for the year
(ro.9461
179,941
Afju8IM6r￿ for..
Irhve$tment income recogni8ed in stslernent of Ilnandal actiwttes
Fair value gains and losses on investments
DepreciatKffl and Impalm￿nt of tangible fixod assats
(45.0201
{9,8891
228,350
{18,130)
{1,774}
227.709
Movemgnts in wothing Ggytsl:
ncrease) in debtors
Increa¥elldecreasel in uedilors
In¢reas8 in (lthrred ino
{564.7231
905,516
438,396
I15.6(￿)
{348.18n
65,311
Ca¥h genernted from operatlon•
879.684
89,284
28 Anatysls of ch•ngos In n•tfvnd•
The charitable company had no d8bt during the yw.
-37-