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2021-08-31-accounts

Charity number: 311280

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

TRUSTEE'S REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustee and Advisers 1 - 2
Report of the Trustee 3 - 22
Independent Auditors' Report on the Financial Statements 23 - 26
Consolidated Statement of Financial Activities 27 - 28
Consolidated Balance Sheet 29 - 30
Charity Balance Sheet 31 - 32
Consolidated Statement of Cash Flows 33
Notes to the Financial Statements 34 - 64

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEE AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021

Council of Management P J E Smith, MA, Chairman[1] Dr S C Bamber, Vice Chairman[1] A R Grant, MA, FRSA (resigned 18 March 2022)[1] I Reid, BSc, MRICS[1] J M D Schofield, LLB, FCA[1] N Q Back The Very Reverend Dr J B Hedges (resigned 26 May 2022) P J Henderson C W Hoffman, ACIB J M Holme, MBCS, CITP J M Hunter Ms. D G M Jarrold, MA Cantab[1] H C Jourdain Professor R J Last, FRSA, BA, PGCE, MA (Ed) (resigned 18 March 2022) A R M Little, FRSA The Reverend Canon A Platten Mrs. A Sarkar Roy (appointed 19 March 2021) G S Smith D W Talbot, FCA Mrs. D A Willmott Dr A C Wood Dr D F Wood MA, MD, FRCP Miss T J Yates, BA Professor K H Yeoman

1 Members of the Executive Sub-Committee.

Charity registered number 311280 Principal office 71a The Close Norwich Norfolk NR1 4DD Trustee Norwich School (a company limited by guarantee)

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEE AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Head Master S D A Griffiths Bursar CJP Evans Assistant Bursar N Reynolds (Operations) Senior Leadership Team The Head Master, the Bursar and: Mrs. N A Fairweather BA - Principal Deputy Head Dr R Clark BSc, PhD - Deputy Head (Co-Curriculum) Dr D N Farr BA, PhD, FRHS - Deputy Head (Director of Studies) J K Ingham BA - Master of the Lower School Mrs. N J Hill BSc - Assistant Head (Admissions, Marketing & Partnerships) P A Todd BA - Assistant Head (Teaching and Learning) A Rowlandson BA - Assistant Head (Staff Development) Independent auditors Larking Gowen LLP King Street House 15 Upper King Street Norwich Norfolk NR3 1RB Bankers Barclays Bank PLC 3 St James Court Whitefriars Norwich NR3 1RJ CCLA 85 Queen Victoria Street London EC4V 4ET Solicitors Mills & Reeve LLP 1 St James Court Whitefriars Norwich NR3 1RU Farrer & Co LLP 66 Lincoln's Inn Fields London WC2A 3LH Investment advisers Barratt & Cooke Limited 5/6 Opie Street Norwich NR1 3DW

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021

ETHOS & AIMS

A lifelong love of learning is at the heart of the holistic, educational journey for each Norwich School pupil. The wider Norwich School family of staff, parents, alumni and other supporters work together to nurture our young people, both in Cathedral Close and beyond.

Education has been associated with Norwich Cathedral and Christian principles since its earliest beginnings at the end of the 11th century. Set in The Close at the heart of our city, Norwich School is the proud 21st century heir to this tradition.

As the leading school of any type in East Anglia and one of the best co-educational day schools in the United Kingdom, our outstanding all-round practice blends tradition and innovation to serve the short and long-term interests of every pupil. Our community’s daily activities and relationships are nurtured by the guiding concepts of inclusion, love and compassion. We have a restless ambition for self-improvement at the forefront of pedagogical innovation in local, national and international contexts; a beacon in the East of educational excellence.

The schools aim to:

OBJECTIVES & ACTIVITIES

Despite the significant impact (from March 2020 onward) of the global Coronavirus pandemic on all aspects of operations, the school met its main operational objectives for the 2020/21 academic year.

Norwich School is a charity whose object is a purpose falling within section 3(1)b of the Charities Act 2011, namely the advancement of education. It is a purpose for the public benefit and is therefore a charitable purpose as defined in section 2(1)b of the Act.

The school operates as an independent day school for boys and girls aged 4 to 18 years who are taught up to the age of 11 in the Lower School and thereafter in the Senior School. The international pupil programme was introduced in September 2014 and in the 2020/21 academic year, there were 30 international pupils in the Sixth Form. They are day pupils residing with local families through a homestay programme operated by Gabbitas Education, London. Norwich School welcomed pupils from as young as 4 years old for the first time, with the introduction of a Pre-Prep department in September 2018.

Both the Senior and Lower Schools underwent a focused compliance and educational quality inspection by the Independent School’s Inspectorate (ISI) in September 2019, meeting all eight parts of the compliance requirements. The quality of pupils’ academic and other achievements and of their personal development was found to be excellent in both schools.

Following the rejection of the original planning application for the proposed Bishop’s Palace Lawn development by Norwich City Council in November 2020, extensive work was undertaken in order to submit a new and much-improved planning application, including significant additional soft landscaping and tree planting within the site and the wider Cathedral precinct enhancing the amenity and biodiversity of the whole Conservation Area. This was submitted in July 2020 with a determination date of 12 November 2020. Unfortunately, at this meeting, the Committee decided not to approve the development and the proposal was rejected by 6 votes to

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5, the same narrow margin as with the first application.

The application was a revised submission considering refusal of the school’s initial proposals in 2019. Considerable attention had since been given to areas of concern which centred on biodiversity, visual amenity, and the Conservation Area. Despite the promise of many new trees and improved biodiversity, unfortunately, the Committee did not deem this sufficient to outweigh the merits of trees proposed for removal.

It is significant that both applications were recommended for approval by Council Planning Officers. Governors believed that their remained much in our application that was worthy of approval. The site is highly sensitive, with many competing constraints, yet the school is determined to deliver a sustainable project with a long-term legacy for the school, The Close and the wider community. In light of the Committee’s double rejection of their own professional advice and the continued pressing need for the development, an appeal to the National Planning Inspectorate was submitted in May 2021.

In April 2022, the Planning Inspectorate concluded that the visual amenity, character, appearance and significance of the conservation area as a whole would not be preserved due to their perception of serious harm caused by the proposal. Whilst noting the benefits of the development would outweigh a significant portion of the harm they had identified, they concluded that the public benefits would not be of sufficient magnitude to outweigh the totality of this harm. As such, the Inspectororate concluded that the proposal would fail to satisfy the requirements of relevant Planning legislation and the appeal was dismissed.

This decision cannot be contested, so the School are now re-considering how best to provide an acceptable development within the site to address the continuing urgent need for a modern refectory provision.

All donations received to assist with the funding of the refectory project will be retained by the School.

Plans have also been drawn up by architects for the development of the Lower School to replace the temporary classroom buildings with a permanent structure and in light of the negative outcome of the Bishop’s Palace Lawn planning application resubmission. Pre-application discussions are ongoing with Norwich City Council to ensure the best chance of a successful application.

The Homestay programme for international pupils continues to go from strength to strength, despite the pandemic, attracting high calibre pupils from the Far East and Europe.

REVIEW OF ACTIVITIES AND ACHIEVEMENTS

Indirect Benefits

The school offers indirect benefit to the wider community through the employment of 221 (2020: 219) full time equivalent staff and the school reduces the burden on the state sector by providing an education for 1,137 pupils (2020: 1,155).

Teaching links

The school regularly collaborates with local state schools, academies and other partner organisations to widen access to its own educational resources and to create a shared educational experience within its community. Examples of such activities are:

Sharing expertise

The school regularly shares the knowledge, skills, expertise and experience of its members of staff with other

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educational providers, such as state schools, colleges, academies and universities, through initiatives that have included the following:

Supporting joint local initiatives

The school is usually heavily involved in the organisation of a number of joint academic and extra-curricular events that aim to boost learning opportunities for children across the region. These have included:

Music

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Arts

Sports

Other events

Community access

Norwich School is very much part of the wider community and is happy to share its educational facilities with the community where it is not to the detriment of the education it offers to its own pupils. The following local schools and organisations have used the school’s facilities through the year:

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candidates a year.

Community service

Norwich School pupils take part in an extensive community service programme, with the aim of making a meaningful contribution to the wider community and of equipping pupils for a lifetime of leadership and service. In the Sixth Form the programme is part of the timetable, although there are opportunities for other year groups to be involved in volunteering during the school year. In 2020/21 approximately 104 pupils have taken part in a huge range of activities, spending approximately 2,392 hours between them at 11 different organisations, including working for international and local charities, schools and special schools, care homes, local history projects and music outreach concerts.

Although physical placements have been limited this year due to Coronavirus restrictions, there are usually a wide range of placements available; most bring pupils into direct contact with other sections of the Norwich and Norfolk community. There are opportunities to work with children, older people and people with disabilities. There are also opportunities to look further afield and work with international partners. Pupils receive training prior to beginning their placements.

The Lower School Service Award offers Lower School pupils the chance to volunteer and take part in a personalised community service programme, undertaking projects of their own choosing that have a positive impact on the local community.

Norwich Opportunity Area

Norwich School sits on the Norwich Opportunity Area (NOA) Advice, Transitions and Destinations working group. The NOA is an initiative of the New Anglia Local Enterprise Partnership and the Department for Education. The purpose of the group is to promote social mobility within Norwich, which has been highlighted as a key barrier to children’s achievement. The group focuses on crucial areas of development, such as early speech and language learning, careers information and support for young people as they transition through education and supporting those most at risk from exclusion and disengagement from school.

During this process the NOA has discussed new strategies to meet its ambitious targets, including a Community Mentoring scheme, the creation of the NOA Youth Board and the creation of a Careers’ Hub to support Careers’ Leads in secondary schools. The group is formed of multiple stakeholders from the Norfolk Chamber of Commerce, NCS and the UEA, to cornerstone employers such as Aviva and KPMG.

Now the planning stage for NOA is complete, the school is part of the Collaboration thematic group and will commit to the targets set out by the group, offering advice, opportunities and a venue for the NOA Youth Board.

Pupil numbers and fees

The principal source of the school’s income is school fees. The average number of pupils in the school was 1,137 (2020: 1,155).

School fees for the year before the deduction of any means-tested bursaries and scholarships were:

Lower School (Reception to Year 2) £3,831.00 Michaelmas 2020 and Lent 2021 £3,945.00 Trinity 2021

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Lower School (Year 3 to Year 6) £5,147.00 Michaelmas 2020 and Lent 2021 £5,301.00 Trinity 2021 Senior School £5,647.00 Michaelmas 2020 and Lent 2021 £5,816.00 Trinity 2021

Academic

The restrictive effects of the coronavirus pandemic and cancellation of the summer 2021 examination series have meant that that this year’s A Level and GCSE cohort has had to put up with unprecedented disruption and have shown resilience and dignity in the face of significant adversity since March 2020. It is always the case with public examinations that the overall cohort position is not as important as outcomes for individuals and it is perhaps even more the case in this unique situation. Our priority certainly is on ensuring that each one of our young people is appropriately looked after so that our leavers can go onto exciting, positive future routes. There have been a large number of terrific individual performances over the two-year courses and very many of our leavers now have exciting next steps ahead. We do not intend to publish cumulative cohort results for this reason.

Many of our Upper Sixth leavers are celebrating as they go onto exciting, positive future routes following the publication of exam results this summer. A key part of the Norwich School journey is future pathways, getting pupils where they want to go. This is true whether that pathway is university, an apprenticeship, Art Foundation course or straight into the world of employment. There have been some terrific performances over the two-year A Level course period and in 2021 98% of Upper Sixth pupils secured their first or second-choice university and 88% of pupils secured their first-choice university. Our pupils have had particular success in applying for both STEM and arts-based courses, with pupils accepted onto courses ranging from Medicine, Engineering and Biomedical Science to Graphic Design, Music and Languages. Engineering remains popular, with 13 pupils heading to study the subject, followed closely by History and Business. We also have a number of pupils going onto study abroad with places secured in Chicago, Malta, and New York as well as non-UCAS routes such as apprenticeships. The broad range of courses chosen by pupils reflects the diversity of our Sixth Form offer for pupils. Norwich School places an emphasis on equipping pupils with the skills that they need for whichever direction they choose to take.

Norwich School was again placed above all other independent schools in Norfolk and Suffolk in the annual Parent Power Schools Guide, published by The Sunday Times. The guide lists the highest-achieving secondary schools in the UK and is particularly respected because it combines performance at both GCSE and A-Level.

The Tatler Schools Guide, which showcases the top prep and public schools in the UK, featured Norwich School in their 2021 edition. The Tatler Schools Guide grants insider access to the top prep and public schools in the UK and is written to help enable parents to find the correct school for their child. Each year, the Tatler Schools’ researchers shortlist 350 independent schools, which are then condensed down to the final 244 of the UK’s finest independent schools. The schools are not only chosen for their performance in league tables, but for their all-round offering for pupils and parents. In order to make the Tatler Schools Guide, schools must offer the whole package - holistic pastoral care, a focus on character education as much as pure academics and the ability to accommodate and nurture all their pupils, resulting in well educated, but most importantly, happy children.

Co-curricular activities

Norwich School pupils have been involved in a wide range of co-curricular activities, both before and during the coronavirus pandemic, which play an extensive part in delivering a truly rounded education.

Music

Despite periods of lockdown and restrictions, musical pursuits were plentiful throughout the year and of a very high standard.

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The Michaelmas term started with a modified House Music Festival, which saw two days of impressive solo classes and welcomed pianist Libby Burgess as the Principal Adjudicator. Throughout the two-day festival, musicians performed a variety of pieces, eager to collect points for their respective houses, and the overall winning house for this year’s Festival was Repton.

Both vocal and instrumental music groups were re-structured for most of the year to follow a year group bubble structure and musical performances during Michaelmas took place through the creation of a number of films, including Musical Theatre, instrumental concerts and the Barbirolli Sessions, which showcased the musical talents of our singer-songwriters and instrumentalists who performed original and cover music. At Christmas a special festive concert featuring the new year group choir bubbles was shared. The concert also included pieces from the L6 female voice choir and the gospel choir, whilst the instrumental groups also played festive tunes. A M5 pupil reached the semi-finals of the prestigious BBC Young Chorister of the Year competition and an U6 pupil had her original song, Normal Paradise, featured on BBC Introducing in Norfolk.

In the Lent term, with a return to a period of remote learning, the pace of creative productions continued to be high with content being recorded at home and both pupils and staff becoming increasingly adept at editing, processing and producing high quality filmed content, including three Unplugged films, the Music Scholars’ concert, a livestreamed concert from the Blake Studio and Jazz Night. When in-school teaching returned, the Senior Jazz Band had the opportunity to record a number of end-of-term pieces in the Barbirolli Room and our musicians were able to take part in a saxophone improvision workshop with ON Finlay McEwen.

After the Easter break, the return to school and the partial easing of restrictions allowed the school to run musical events more normally. The Deveson music competition took place in June, officiated by Julia Rickard, a professional musician who has also worked in musical education for nearly 40 years, and a talented cast of U6 pupils put on a remarkable Musical in 24 Hours. Music as always formed a significant part of the annual Gather festival, including a whole school instrumental concert at St Andrew’s Hall, the beautiful Choral Vigil, two filmed events in a Making Musicians recital and Unsigned and many contributory performances at Gala Night.

The Lower School were able to round off a year without live performances with a highly successful Summer Concert in front of an audience of parents at St Andrew’s Hall. The performances from year group choirs (in bubbles), the guitar group, string orchestra and windband, descant and treble recorders, Sticker group and the Steel Pan band showcased just how much musical talent there is in the Lower School.

Art & Design

In Fine Art pupils undertook a ten-week rotation in each area of the department and topics ranged from architecture-inspired prints to hybrid human/animal illustrations. In L4 pupils created ceramic eyes and Pop Art style portraits as part of their Portrait Project. L4 pupils were also thrilled to win Leach Pottery’s Schools Design Challenge with their unique bubble-inspired pottery plates. M5 pupils created ornamental bowls inspired by watercolour flower studies.

In 2D Design pupils continued to show incredible imagination with how they use graphic media and photography. Several positive changes have taken place, such as Adobe software now being available for home use, which enabled pupils to work on their 2D skills throughout the periods of lockdown. Pupils across all key stages benefitted from the move to Teams and OneDrive, which enabled the management of their work to become more reliable and accessible. Major investment has been put into several areas to give the pupils greater variation in which to develop their work. The installation of professional grade lighting studios and backdrops in all three of the 2D studios has already had a major impact on the volume and quality of work being done by the 2D pupils. The addition of Microsoft Surface Studio 2 computers allows pupils to work on two different platforms but also to treat the desktop as an incredibly sophisticated drawing platform. In contrast to this digital advancement, pupils have started to work more with analogue photography, the creation of zines using the Risograph printer and are learning bookbinding techniques.

In U4 pupils have been exploring the power of awareness campaigns, creating striking and thought-provoking design material which is focused on climate change. Pupils have worked with photography and graphic design

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to visualise their environmental causes in a range of posters. This series or work highlights the pupils’ ability to think deeply and critically about the world, using design to reflect and discuss issues, which they feel strongly about. In L5 pupils have explored new and exciting photographic techniques that have kickstarted their creative investigations. They have explored the work of Idris Khan and responded with beautiful multiple exposure work. They have also leveraged the beautiful Cathedral grounds to create stunning cyanotype exposures using a mix of primary and secondary sources to create inspired and new outcomes.

Within Graphic Communication, L5 pupils explored the ever-changing relationship humanity has with the natural world by creating a series of designs, which are based on words removed from the Junior Dictionary. It has been wonderful to see pupils so enthused and excited to explore this subject matter and gain an insight into the dynamic and varied processes that graphic design can be created from, such as paper cutting, vector design, typography and photographic collage. Using some of the small shops from around the city, M5 pupils have produced some stunning branding and packaging work, whilst L6 were tasked with reinventing classic music vinyl from decades past.

Due to restrictions, visiting galleries and other places of inspiration was not possible for our pupils this year, but, towards the end of the year, the L6 photographers were introduced to a series of film workshops by a local film maker, Cameron Black, and the graphic designers were also given a series of Risograph workshops by textiles artist Lily Rodgers.

In a challenging year for 3D Design, the pupils’ ability to adapt and work around the barriers lockdowns have caused has been incredible. Despite a more restricted timescale for the creation of practical outcomes, the pupils have been more ambitious than ever and their drive and focus has been astonishing. From work in traditional materials, such as woods and metals, pupils have experimented and refined their skills in everything from fabrics to ceramics and precious metals to concrete. They have been especially keen to explore complex and important themes in their work this year. Sustainability, socially responsible design, interaction, feminism, the Me-Too movement, mental health and body image have been popular themes. One pupil’s body adornment piece, which explored self-consciousness, was awarded second place in the Norwich University of the Arts Norfolk Art & Design competition.

Performing Arts

The school offers a wide range of participation opportunities for all our pupils in the various forms of performing arts: drama productions, musicals, and dance shows. The school was selected as a finalist for Independent Schools of the Year 2020 awards in the Performing Arts category, which celebrates schools that have most impressed the judges through the impact that performing arts have on pupils throughout the school, both in the breadth of opportunity and the achievements of its pupils.

Gather 21

The school’s annual end-of-year creative arts festival took place in the final few weeks of the academic year and saw a packed programme of events take place, with small in-person audiences and many productions livestreamed to at-home viewers. As usual the festival showcased the many and varied talents of Norwich School pupils across dance, design, art, drama and music. Some of this year’s highlights included a Shrunken Shakespeare production, an instrumental concert at St Andrew’s Hall, the New Writing Festival, year group drama productions, the Fashion Show and Gala Night on the Lower Close. In total, 16 different shows and performances were held at various locations, and it was a pleasure to see the partial return of live audiences to many. The quality throughout was impressively high and it really was a fitting way to round off a challenging year and for all to celebrate the diverse and deep creative talent at Norwich School.

Drama and Theatre

L4 were able to perform their Garden Plays before a live audience on the Bishop’s Palace Lawn, with the beautiful backdrop of one of the most iconic school buildings and the challenge of performing outdoor theatre. The stories were ones of magic and mystery, trial and adventure and gave the entire year group the chance to

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perform. They surpassed expectations and gave two evenings of thoroughly enjoyable entertainment.

With the Gather festival in full swing, Fourth and Fifth Forms put on a creative and challenging summer piece. Taken on by external freelance director, Camilla Scaife, the company were tasked with bringing to the stage several theatrically difficult and sophisticated Shakespearean vignettes. They performed superbly and delivered them with understanding and characterisation.

The L5 Drama set were tasked to create bespoke Theatre in Education pieces for the Lower School as part of their Anti-Bullying Week educational campaign. The group were split into seven performance companies and given a specific target year group audience to build their piece for. Although it had been hoped to perform these live for their audiences, this was not possible and they were live streamed instead from the Blake Studio. The companies produced resources and completed Q&A sessions after their performances.

The beginning of the Michaelmas term saw a burst of creative talent from a cast of L4 and U4 pupils in It Couldn’t Be Done, a play made up of a series of performances of famous poems, ranging from Lewis Carroll’s Jabberwocky to Walter de La Mare’s The Listeners. The cast persevered, in spite of the challenges of social distancing and year group bubbles, and created an imaginative and gripping piece of theatre. The final performance was filmed and edited together to allow for the audience to watch at home.

This year’s Senior Play saw Shakespeare’s well-loved comedy, A Midsummer Night’s Dream, come to life in the form of a 1980’s party. Full of questionable fashion choices and cheesy 80’s songs, both the audience and the cast were indulged in the nostalgic whimsy of both the story and the setting. The whole cast performed with an excellent knowledge of the Shakespearian language and an incredible energy that made the play engaging and entertaining.

The rationale for this year’s Scholars’ Play was to offer educational breadth to the L6 and U6 dramatists in the form of Commedia dell’arte – traditional Venetian masked comedy – with the aim of producing a fun piece of popular theatre that could be safely performed outdoors to a socially distanced audience. With the difficulties of staging theatre in the Covid age, inevitably the dreaded words ‘self-isolation’ happened, and one cast member was lost from the company, which meant a role for the director!

In the Lent term a diverse array of films were produced, including Mind, Body & Spirit, a selection of music and dance celebrating LGBT+ history; In Other Words, a collection of songs and poems from around the world; an entertaining L5 and M5 radio play of Agatha Christie’s Afternoon at the Seaside; and Creative Crossover, an interdisciplinary creative collaboration around the theme of joy.

In Drama lessons classes were able to maintain their performance momentum through the wonderful world of film and Microsoft Teams! Lessons continued as normal and the new lockdown life gave a chance to approach Drama from different angles. In the Fourth Form the U4 dramatists were able to make short slogan films, showing how to stay safe from Covid with their ‘hands, face, space’ shorts. L5 were able to complete a lessonbased performance project, recording extracts from a range of theatre scripts. Those undertaking GCSE Drama and A-Level Theatre Studies completed their devised examination pieces, with some superb work being created and shared with a small live audience.

In the Lower School, L3 took to the stage once again this year to perform their thirty-minute adaptation of three different Shakespeare plays, Macbeth, Romeo & Juliet and A Midsummer Night’s Dream.

Dance

Dance had a challenging but innovative year, due to restrictions, but the pupil dancers and choreographers faced this challenge head on and it has been fantastic to watch them be part of the journey and evolve in their creativity.

In the Michaelmas term the Junior Dance Festival showcased pieces choreographed and performed by our Junior and Intermediate pupils. Due to Covid restrictions, a live audience was not possible, so each dance was filmed in a different location around the school site, from the Chapel to outside the West Front of the Cathedral,

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and the film was shared afterwards via YouTube to the school community.

As school returned from lockdown in the Lent term, the Norwich School Dance Show was put on in the Dayne’s Sports Centre Dance Studio. Filmed professionally and streamed online, the show saw an array of routines across a variety of genres, from solo contemporary pieces to hip hop and jazz.

The Gather 21 Arts Festival in the Trinity term saw live dance performances return to the stage. The annual charity Fashion Show included pieces choreographed by an U6 and a L6 pupil, alongside choreographed catwalks. Gather 21 culminated in a live Gala Night performance with a small audience and online live streamed performance for the wider community. The evening included a medley of dance performances from earlier shows, with two ONs returning to perform alongside current pupils.

Sport

Norwich School offers an extensive range of sport activities to our pupils on both a participative and competitive level. The core sport offering includes rugby, hockey and cricket for boys and hockey, netball and cricket for girls. With continued restrictions on school activity, it took until the Trinity term for any inter-school competitive fixtures to take place, but, despite this, the appetite for sporting endeavours and challenges has remained high with much being achieved.

In the Michaelmas term a near normal programme of activity ran with pupils in year group bubbles. A serious of internal competitions took place, including inter-squad touch rugby and hockey tournaments, Aussie Rules Football tournaments, rowing time trials and house mixed touch-rugby and hockey competitions. Two new events for the Fourth Form were introduced, with the hugely popular and competitive House rowing competitions and the Redmayne run – a brand new House event, which combined the aerobic challenge of cross country with a variety of obstacles and tests of strength, teamwork, and focus. Despite the restrictions, a number of our top players were part of prestigious elite set-ups, including England U18 rugby, six players in Performance Centre hockey programmes and three involved with England selections.

After Christmas, sports returned to a remote delivery reminiscent of the 2020 Trinity term. It was, however, incredibly heartening to see the degree of involvement in online activities employed to remain physically active, including rowing distance challenges, Saturday family workouts and Strava art competitions. A range of sports were made available, with most opting for the main sports of netball, boys’ hockey, rowing, and cross country. In netball a number of pupils made the cut for representative programmes including at age-group county level and Saracen Maverick academies. During the three weeks back at school at the end of term, pupils took part in a modified Cup Run held over a challenging course across three days at Redmayne. A gradual reintroduction of inter-school fixtures in the Trinity term finally allowed for some competitive action.

In rugby house matches were played through the touch rugby format across all age groups and there were some brilliant performances both collectively and individually. Following the conclusion of the Michaelmas term, a remote Rugby Sevens programme was delivered through physical training, skill challenges and video analysis tests. The benefits of this were realised when school returned for the final three weeks of the Lent term. In individual successes, one U6 pupil gained England U18 selection and was rewarded with a senior academy contract at Northampton Saints; an U6 pupil has taken up a place with the Ealing Trailfinders Academy which combines pursuing professional rugby with academic study at Brunel University; a number of boys from U5 and M5 participated in the Leicester Tigers U16 programme during the Easter period and, following this, three were invited to train with the Leicester Tigers Academy U17 group during the summer.

It was not possible to undertake any regular fixtures for hockey throughout the season but, despite the restrictions, both boys and girls played a considerable amount of hockey whether it was on the pitch or in their living rooms at home! In the Trinity term the Dragons HC mixed summer league finally gave everyone an opportunity to play against some opposition and, despite some rustiness, the teams played some excellent hockey.

With the 2020 season all but cancelled, it was a relief for the cricket teams to be able to play a competitive 2021 season. In total, over 80 cricket matches were played with some good results and individual

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performances. Five Norwich School cricketers won places on the two Norfolk Cricket Board Performance Pathways.

In tennis the M5 team became County Champions and will represent Norfolk in the National knockout in September and in football two M5 pupils were selected for the Norfolk County U15 football team.

The rowers were able to put their cross-training skills to good effect during lockdown and immersed themselves into training with ease, as Ergometers were loaned out and Teams training became the norm. House indoor rowing in the Michaelmas term proved a huge success for L4 and U4, resulting in some close racing in the team events and some fast individual times. Once regattas resumed, the Sixth Form teams managed A finals in the Championship coxed four and doubles events at the National Schools’ Regatta and all ages from the Boat Club raced at Peterborough, with notable successes from the seniors and inters.

Due to restrictions, opportunities to compete regionally and nationally in athletics were limited but local events with DESA and Langley School gave the opportunity for competitive action to Fifth Form students, leading to some fantastic performances. The Norfolk Schools Championships did go ahead, with a significant number of Norwich School pupils competing, leading to seven Norfolk titles being won. One L5 sports scholarship pupil has had an outstanding season. She is currently ranked in the top 10 in the country for her age group in 100m, high jump and long jump, as well as being ranked number one in the country for 75m hurdles. She equalled her age group’s British record at Lee Valley in May in a time of 10.75. Sports Day this year was spread over two days and three separate events, with the UEA Sportspark providing an excellent setting for the Fourth Form Sports Day and the Inter and Senior events being held on the Lower Close.

Beyond the Classroom

The continuation of the pandemic meant that some annual projects were postponed, but, as ever, the school came out in force to help the local community. The school’s catering team continued their gargantuan efforts to help feed the community by making meals for the YMCA, the Feed social enterprise and St Martin’s Housing Trust. Since the beginning of the pandemic, the team have made an incredible 11,500 meals for local people. They also made and delivered Grab & Go bags for staff in every department at the Norfolk & Norwich University Hospital to help keep energy levels and morale high at a time of increased pressure due to the pandemic. The school was recognised by the Norfolk and Norwich University Hospital for our support to NHS staff by being awarded their Charity Champion School’s Award.

Much of the Lent term saw the majority of pupils retuning to a remote learning model. During this time, the school continued to support key worker children and pupils on site, took part in a number of activities in addition to their online learning, including helping to distribute food to vulnerable people in the city.

The school’s commitment to working with Friend in Deed to help integrate the older generations in our community continued throughout the year. Two intergenerational quizzes were organised between pupils in school and the Laurel Lodge Care Home. Pupils also produced individual gifts for each resident at St John’s House Care Home, including personalised glasses cases, handkerchiefs, a potted plant, and cards, all in a Forget Me Not theme for Alzheimer’s Awareness Week. Pupils also created almost 50 cards and poems to celebrate the 100th birthday of ON Tony Holmes, a resident at St John’s House. Two pupils wrote and recorded a theme song for Friend in Deed to use in their videos for care homes and our filmed recordings of Making Musicians and termly concerts were shared with care homes via DVDs and CDs posted to the homes. In July three ONs also returned to the Great Hospital to dance and sing for residents in the grounds.

Community Service thrives on face-to-face relationships with the organisations with whom it works and, therefore, this year again proved somewhat challenging. However, staff and pupils showed immense flexibility and creativity in adapting to those challenges. Many groups were able to continue as normal (albeit remotely for a period). Amnesty, working alongside groups such as English+, created and directed a number of projects, including a superb video introducing refugees to Norwich and an art workshop on the topic of ‘Socio-political messages in contemporary art’, which discussed the topic of diversity and created art on the core issues of gender, race, disability and the refugee crisis with help from the Art Scholars. Pupils involved with La Casita, the day centre for children and young adults living in poverty in Argentina, have worked hard to learn about,

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contact and fundraise for this long-standing Norwich School partnership. Language Leaders continued to train pupils to tutor others and Polar Aspect continue to raise awareness of the climate crisis and its impact on the polar regions and communities. The school’s relationships with outside organisations such as care homes and schools were more difficult due to Covid restrictions. This year pupils were not assigned to organisations but were instead assigned an activity, such as music, quizzes and sport. The music group produced beautiful concerts and education videos on composers. Our quiz group produced a large number of themed quizzes on topics such as the Chinese New Year, which were very well received by our partner organisations. Groups in L6 formed a link up with Magdalen Gates Primary School to produce recordings on science, languages, composers, and Greek Gods, as well as the Forget Me Not project for residents at St John’s House Care Home. Royal Institution pupils, despite not being able to take their masterclasses out to schools, produced superb worksheets and instructional videos on topics such as fulcrums.

The Charities Committee worked hard during the year to raise funds for a wide range of organisations, both locally, nationally and internationally, generating more than £9,620 for charities. The year started with the very first ‘choose your charity’ event, where the school community was given the opportunity to choose which charity they would like the Home Clothes Day fund to support. Pupils voted for Leeway, which supports victims of domestic abuse. In the three weeks running up to Christmas, the L6 Charities Committee set up and ran a coffee shop in the OMR to raise funds for local charities. The Charities Committee and the Amnesty Group also joined forces prior to Christmas and organised a donation drive for food and household supplies for vulnerable people in Norfolk. As the Lent term saw a return to remote learning, pupils were asked to wear their house colour and donated for ‘At Home Clothes Day’, which celebrated LGBT+ History Month. A concert called Mind, Body and Spirit was also shared as part of this fundraising initiative, with more than £500 being raised for Stonewall. When pupils returned to school in the last few weeks of the Lent term, Home Clothes Day raised almost £1,000 for the eating disorders charity, Beat, whilst Home Clothes Day in the Trinity term raised more than £1,500 for The Clare School, a complex needs school for pupils with medical and physical disabilities. During the last week of the Trinity term the annual Fashion Show raised more than £2,000 for the climate change charity, Protect Our Winters.

The Lower School supported a number of charitable causes throughout the year. £616 was raised for the PACT Animal Sanctuary through a non-uniform day and cake sale; an amazing variety of Christmas presents, from cuddly toys to Mousetrap and Roald Dahl dinosaurs, were delivered to the Benjamin Foundation who distributed them to young people in need in Norfolk and Suffolk; £202 was raised for the Woodland Trust through Funky Woodland Accessories Day; and £665 was raised by Jeans for Genes Day by paying a fine to wear jeans and home clothes and collecting loose change for the Silver Coin Challenge. The 8th Norwich Sea Scout Cubs also raised £1,000 by running, walking, or biking 3km during the second lockdown for the Kekeli Foundation in Ghana, which supports children of all abilities.

L6 pupils visited five primary schools for some workshops in preparation for Dippy the Dinosaur’s visit to the Cathedral during the summer. Primary school pupils learnt about dinosaurs and life in the late Jurassic period and made their own drawings to be included in a time tunnel as part of the visitor experience. The final tunnel was created by Art & Design pupils and included the work of 265 Norfolk children. Continuing the prehistoric theme, the school’s T-Rex, Tyra-Norvy-Saurus, took up residence in the Upper Close as part of the Break charity Discovery Trail.

After an initial return to choral services in September, albeit with the challenge of choristers standing apart from each other, the choir was forced to cease its activities again in the November lockdown. The choristers’ online sessions included Zoom conversations with John Rutter and with HRH Prince Edward, Patron of the Cathedral’s recently completed music appeal. Fortunately, the choir was able to resume in time for Advent and Christmas, which included popular outdoor ‘Carols in the Cloisters’ events to enable people to sing in the safety of the open air when it was not possible in church. After the further lockdown at the start of 2021, the choir were able to sing again just in time for Easter. The Trinity term brought more positivity and ended by singing around Dippy the Dinosaur whilst he was resident in the Cathedral’s Nave.

One Norwich School Day in June was organised by pupils to celebrate diversity and inclusion across the school community. They created tutorial materials and a range of information stalls in the playground at lunchtime to raise awareness and encourage conversations around a number of different equality and diversity topics,

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including gender, race, disability and sexuality. The day started with an assembly from former England, Lions and Harlequins Rugby player Ugo Monye, who stressed the importance of hard work and determination and recognising opportunities. Ugo challenged pupils to consider how they could be a positive influence in the school community before ending with a Q&A session. Throughout the day, pupils across the school attended virtual sessions run by The Rap Project, who talk to teens about the important topics of consent, sexual assault, and the influence of porn and social media. Professional rugby union player Jonathan Joseph led virtual sessions on diversity and sports culture, as well further sessions on his experiences as a rugby player specifically for our Sports Scholars and 1st XV rugby players.

During the year, many of the whole-school assemblies and services were held virtually due to the ongoing restrictions. The community marked both Trafalgar Day and Remembrance Day with services live-streamed from the Cathedral to pupils in their classrooms. This year the Trafalgar Day service was adapted to recognise the complexities of history and U6 History students provided a holistic overview of the Battle of Trafalgar, recognising all sailors who fought to maintain Britain’s independence. In order to keep up House camaraderie during lockdown, the Heads of Houses put on several house challenges, including pumpkin carving, house emblem creation, wig competitions, treasure hunts and snowman building.

In the Michaelmas term, World Mental Health Day saw pupils focus on mindfulness and wellbeing, with Sixth Formers attending a talk from ON Tom Oxley from Bamboo Mental Health on positive mental health. Pupils were given yellow stickers on which they could write an encouraging message and these were stuck onto ‘kindness trees’ in the Quiet Playground. The non-profit social enterprise, The Museum of Happiness, which aims to teach people of all ages and backgrounds about the essence of happiness and wellbeing, visited the Lower School and gave U3 science-based techniques they could use to implement in their everyday lives.

Pupils from U5 and L6 competed in the British Physics Olympiad Senior and Intermediate Challenges, which involve answering a series of highly demanding abstract Physics problems. In the Senior Challenge pupils achieved six gold awards, five silver awards and six bronze awards. In the Intermediate Challenge pupils achieved two gold awards, four silver awards and five bronze awards. Fifteen pupils from L6 also took part in the Royal Society of Chemistry’s Young Analyst competition, a national competition to test gifted pupils’ skills in a practical chemistry context. Several L6 pupils also took part in the Intermediate Biology Olympiad and achieved one silver medal, three highly commended and four commended awards. In the Lower School, pupils from U1 and L2 attended a two-day science and technology workshop building their own cities and castles from Lego.

A wide variety of visiting speakers joined the school, either virtually or in person, during the year. Professor Philip Mosely (ON), Distinguished Professor Emeritus of English and Comparative Literature at Penn State University, ran a virtual masterclass on close reading for U6 in December, whilst in January U5 were joined from his London kitchen by adventurer, writer and public speaker Charlie Walker who clocked up 43,000 on his bicycle whilst trying to visit the compass points on the Afro-Eurasian landmass.

In May, the school welcomed award-winning author Julian Sedgwick in person to speak to the Fourth Form about his latest novel, Tsunami Girl, set amidst the 2011 tsunami on the East coast of Japan. L4 were treated to a whole book-themed day in July, where they heard talks from author Mitch Johnson, local children’s author and illustrator Ivan Bates, local author and performance poet Poppy Stevens, and local young adult horror writer Alexander Gordon Smith, as well as having the chance to write and read their own poetry and take part in drawing activities. Between March and June, U4 pupils joined over 100,000 other pupils all over the country in shadowing the judging process of the Carnegie Medal for Children’s Literature, culminating in a whole year group discussion forum in June, where pupils voted on the novel that they considered worthy of the medal. Ivan Bates also visited the Lower School to take part in L3’s Library Lock-Out event, where pupils discussed drawing, writing, books and the environment, and went on to produce their own wildlife-inspired pages, with pictures and captions, using templates designed by the illustrator especially for the occasion.

Music scholars were treated to a harpsichord workshop from highly successful music director and keyboard player, Steven Devine, while one U4 pupil had his composition, The Arrow of Time, live streamed by the London Sinfonietta musicians, as part of a project to mentor young composers.

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L4 took part in the We Wonder Mission to Mars project, run in partnership by the National Literacy Trust and Turner & Townsend. The project saw pupils create bold, innovative designs for habitats on Mars. Adopting a variety of creative approaches, from architectural wonders incorporating the latest material technologies to sustainable habitats with wellbeing at the heart of their design, the work produced was both imaginative and innovative. One pupil won the KS3 competition and the judges were impressed at the detail put into the design, with its focus on sustainability and functionality.

ON Freddie Steward returned to the Lower School in October 2020 to present his England Rugby U18s shirt and watch the U7s train. Freddie joined the Leicester Tigers from Norwich School and has since gone on to make his full England senior team debut and score the first try during the Autumn International match at Twickenham, being awarded Man of the Match in the process.

Details of bursary and scholarship awards

Bursaries

This year the value of means-tested bursaries totalled £924,000 and represented 4.9% of the school’s gross fees. Assistance was provided to 81 pupils. The school funds this assistance mainly from its own resources which arise through the creation of an operating surplus generated by careful efficiency measures and cost control. The school is also very grateful for the help received from external parties who have made significant contributions such as Bowling Family, Norwich Cathedral, Choir Schools Association, Charles Peel Charitable Trust, Worshipful Company of Dyers, Friends of Norwich School, French Huguenot Trust, Morse-Boycott Trust, Old Norvicensians, Rank Foundation, the Wait Family and the Staff Bursary Fund.

Hardship support

As a direct response to the financial shock faced by many within the school community due to the coronavirus pandemic, emergency hardship support totalling £142,000 was provided during the 2020-21 academic year.

Scholarships

Scholarships are awarded to current and prospective pupils with outstanding ability and flair who will make a significant contribution to the school in their area of particular skill. In September 2018 a new customised scholarship programme was introduced in the areas of academic excellence (11+, 13+ and 16+ entry), music (11+, 13+ and 16+ entry), sport (11+, 13+ and 16+ entry), art and design (16+ entry) and drama (16+ entry). Instead of reduced fees, the focus of the new scheme is on enriching the pupil experience and providing activities that the scholars will enjoy through the provision of a varied and interesting enrichment programme. Scholarships continue to be held by the pupil throughout their time at the school, subject to meeting the scholarship’s conditions.

Pupils who were beneficiaries of the previous Scholarship system will remain so until they leave the school. This currently totals 37 pupils amounting to £52,000 and representing 0.3% of its gross fees. Of the 37 pupils, 5 also qualified for means-tested bursary support and are included in the figures relating to bursary awards.

Norwich Cathedral also offers scholarship awards of 50% of the annual tuition fee to 19 boy choristers who attend the school.

FUTURE PLANS

In pursuance of its strategic objectives, the major operational project areas in the 2021-22 academic year will be to:

Academic Progress

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Pastoral Care

Staff

Finances , site and infrastructure

Partnerships

Alumni and other stakeholders

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Public benefit

The Council of Management has given due regard to the Charity's Commission's guidance on public benefit.

The Council of Management has directed the school to play its part in providing public benefit to the local community and beyond. The school is dedicated to providing a first-class education to all children seeking such an education irrespective of their family circumstances or background. Norwich School continues to attract positive young people who relish learning and who are willing to contribute to the broader aspects of school life: whether in music, drama, sport, debating, clubs, societies, Sea Scouts, the Duke of Edinburgh's Award, charitable fundraising, communicating service or the many other activities that they encounter here. We select on academic potential, attitude and all-round ability.

Norwich School is committed to safeguarding and promoting the welfare of all our pupils, irrespective of their background. The last educational ISI inspection noted the school's tutorial system offered pupils "very good pastoral care, which is valued by pupils" and that "the school is a friendly, welcoming community characterised by very good relationships between pupils of all ages and between pupils and staff."

Financial review

Total income amounted to £20,935k (2020: £21,309k) and after incurring expenditure of £20,842k (2020: £20,159k) net income before other recognised gains and losses amounted to £111k (2020: £1,083k). This is stated after realised gains on the sale of investments of £13k (2020: losses of £14k) and net investment revaluation gains of £302k (2020: losses of £53k). After actuarial losses on the defined benefit pension scheme of £72k (2020: £9k), the net increase in funds amounted to £194k (2020: £1,074k).

Principal funding sources

The principal source of the school's income comes from school fees. The average number of pupils in School was 1,141 (2020: 1,155).

Fixed assets

In order to maintain and develop the educational provision, the School continues to undertake a carefully planned programme of fixed asset investments. In the year to 31 August 2021, additions amounted to £681k (2020: £1,180k). The most significant investments included works to the Lower School, Redmayne, development of the Refectory and upgrades of computer equipment.

Investment powers

The trustee is empowered to invest funds in a manner appropriate to the financial requirements of the School, having regard to the security of any investments made and the requirements of the Charity Commission's order.

Investment policy

The investments are managed on a discretionary basis by Barratt & Cooke Limited, stockbrokers. The funds are invested with the objective of creating a balance between income generation and preservation of capital in real terms.

Reserves policy

Note 24 of the financial statements sets out an analysis of the assets and liabilities attributable to the various funds. The Council of Management considers that these assets are sufficient to meet the charity's obligations on a fund by fund basis.

Other than freehold investment properties, which are held as an investment to produce income and capital

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REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

growth, the School's tangible assets are held for use by the School. Taking one year with another, the Council of Management plans to spend any surplus within the unrestricted fund on improvements to the School. At present the School's free reserves, being group net current assets within the general funds, amount to a surplus of £2,123k (2020: £1,135k). This figure excludes designated funds of £Nil (2020: £375k) being the Covid-19 Response fund.

Structure, governance and management

Governing document

King Edward VI Grammar School, Norwich was registered as a charity on 25 May 1966. Pursuant to a scheme dated 7 September 1994 and approved by the Charity Commission, the charity is administered by a company limited by guarantee known as Norwich School (company number 02940688). The land, assets and undertaking of the charity were vested in the company on 1 September 1994.

Governor recruitment, nomination and appointment process

The Council of Management consists of six representative governors and up to 19 co-opted governors. The representative governors are nominated by the Worshipful Company of Dyers, Chapter of the Cathedral Church of Norwich and the Senate of the University of East Anglia. The Nomination Committee meets annually to review the skills portfolio of existing members of the Council and determines any potential gaps or imbalance. Governors may identify individuals who may be interested in becoming a co-opted governor or may fill a skill gap in the Council. The school welcomes individuals to approach the Chairman directly or via the Clerk of Governors expressing an interest in becoming a governor. The Chairman will meet with potential candidates and, in conjunction with the Vice-Chairman and the Head Master, review their suitability before putting all of the names forward for discussion at the next Nomination Committee. The Nomination Committee nominates suitable candidates to the Council of Management when a governor vacancy arises for the Council's review and appointment.

Council of Management induction and training

On appointment to the Council of Management, members are provided with:

and are encouraged to read Charity Commission guidance note CC3 - "The Essential Trustee: What you need to know, what you need to do". In addition, new members are provided with detailed information about the School and encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.

Risk management

The Council of Management is responsible for the management of the risks faced by the school. Detailed considerations of risk are delegated to the Executive Sub-Committee and the Senior Management Team. Risks are identified, assessed and controls are established throughout the year. A formal review of the charity's risk management processes is undertaken on an annual basis. The major risks identified by this process have been mitigated to an acceptable level by internal control systems, insurance cover and other factors as appropriate.

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REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Ongoing risk management and the impact of the global coronavirus pandemic

Norwich School’s response to this global issue continues to be informed by guidance from HM Government (HMG), the Foreign and Commonwealth Office (FCO), Public Health England (PHE), the UK Chief Medical Officers (CMOs) and the appropriate local authority bodies, including Norfolk County Council Health Protection and Outbreak Management Team (NCC HPT/OMT).

The school have adopted a risk-based operational approach to the current crisis with an emphasis on the wellbeing of the school community to ensure delivery of education on site for as long as possible and thereafter by remote platforms if the school is closed on the direction of appropriate authorities. Within this approach, a key consideration remains the provision of appropriate on-going support for those pupils within cohorts due to sit public examinations. Although the magnitude of the economic shock from the coronavirus remains highly uncertain, activity is likely to weaken materially in the United Kingdom over the coming months and indicators of financial market uncertainty have already reached extreme levels.

Temporary, but significant, disruptions to supply chains and weaker activity could challenge cash flows and increase demand for short-term credit from households and for working capital from companies – particularly smaller businesses.

The school are very mindful of the impact of such economic shock on the whole school community (both during 2021 and beyond) and are determined to manage revenue streams in a considerate and flexible manner to ensure continuity of education whilst meeting obligations and maintaining the underlying core stability of the business model.

With a robust level of working capital, a strong balance sheet, appropriate levels of both interest and debt cover allied to prudent cash flow management (and access to additional funding if needed) the school currently feel well-placed to address the continuing challenges of this pandemic.

Organisational structure

The Council of Management meet a minimum of three times annually, including at least one meeting per term. The Executive Sub-Committee, consisting of six Council members, meets more frequently to monitor the financial management and development of the School. In addition, other more specialist Sub-Committees meet to consider current issues and strategy with a view to submitting recommendations to the Executive SubCommittee and to the Council of Management as a whole.

The Council of Management and its Executive Sub-Committee set out the general policy of the School. The day to day affairs of the School are run by the Head Master and the Bursar.

Setting of pay

The Remuneration Committee has the membership of a minimum of three governors and meets once a year normally in the Lent Term to review the performance of the Senior Management Team including the Head Master and the Bursar and their pay for the next academic year. The Committee sets any pay increased to be awarded to each member of the Senior Management Team.

Related parties

The assets and liabilities of the School are vested in a company limited by guarantee known as Norwich School, which acts as a bare trustee for the School.

The School owns the entire issued share capital (being two £1 ordinary shares) of Norwich School Enterprises Limited, which was incorporated on 1 April 1998.

The School rents the majority of its properties from the Chapter of Norwich Cathedral, which was represented on the Council of Management during the year by The Very Reverend Dr J B Hedges and The Reverend

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Canon A Platten. The Chapter of Norwich Cathedral's subsidiary company, Norwich Cathedral Enterprises Limited, also provided catering services to the School during the year.

Ms D G M Jarrold, member of the Council of Management, is a director of Jarrold and Sons Limited, which provided services to the School during the year.

Mr J M Hunter, member of the Council of Management, is a member of Mills and Reeve LLP, which provided legal services to the School during the year and is a non-executive director of Barratt & Cooke Limited, which provided investment management services to the School during the year.

Mrs A Sarkar Roy, member of the Council of Management, is a Non-Executive Trustee of 8th Norwich Sea Scouts. The School made purchases from and sales to this charity during the year of £1,051 and £23,759 respectively. At the year end, £11,292 was owed to the School. Mrs A Sarkar Roy was not a member of the Council of Management in the prior year and so comparative amounts have not been disclosed.

Mr N Q Back, member of the Council of Management, is the Chair of the Norfolk Club, of which the School uses the gym facilities. The School made purchases from this charity during the year of £887 (2020: £3,705) and there were amounts outstanding at the year end of £550 (2020: £550).

Six members of the Council of Management, The Reverend Canon A Platten, Mr J M D Schofield, Dr A C Wood, Mr A R Grant, Mr J M Hunter and Mrs A Sarkar Roy have children or grandchildren at the School. Fees paid by these members are at the same rates applicable to all pupils. One member is in receipt of meanstested assistance.

Except where shown in note 10 and note 21 to the financial statements, no director has any financial interest in, or receives any remuneration from either the trustee company or the School.

Other relationships

The Head Master is a member of the Head Masters' and Mistresses' conference, which is an opportunity to share expertise, knowledge and experience across the independent school sector. The Conference also permits appropriate representation to Government and regulators of the views of the sector. The Master of the Lower School is a member of the Independent Association of Prep Schools (IAPS). IAPS is the professional association for Head Masters' and Mistresses' of the leading independent prep schools in the UK and worldwide.

Fundraising standards

Fundraising activities at the School are carried out by its own staff in the Development Office and are not outsourced to professional fundraisers. Its activities are closely and regularly monitored by the Development Committee, a sub-committee of the Council of Management. It also follows the Institute of Fundraising guidelines for dealing with vulnerable people. King Edward VI Grammar School, Norwich is registered with the Fundraising Regulator and is committed to following the Code of Fundraising Practice and the Fundraising Promise. There have been no complaints about fundraising activity this year.

Statement of Responsibilities of the Council of Management

The Council of Management are responsible for preparing the Report and the Report of the Trustee and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Council of Management to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Council of Management are required to:

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The Council of Management are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Council of Management

All members held office throughout the year and up to the date of this report.

Disclosure of information to auditors

Each of the persons who are members of the Council of Management at the time when this Report of the Trustee is approved has confirmed that:

Auditors

The auditors, Larking Gowen LLP, have indicated their willingness to continue in office. The designated members of the Council of Management will propose a motion reappointing the auditors at a meeting of the members of the Council of Management.

................................................ S D A Griffiths On behalf of the Trustees

Date: 2 6 7 June 2022

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEE OF KING EDWARD VI GRAMMAR SCHOOL, NORWICH

Opinion

We have audited the financial statements of King Edward VI Grammar School, Norwich (the 'parent Charity') and its subsidiary (the 'Group') for the year ended 31 August 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustee with respect to going concern are described in the relevant sections of this report.

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INDEPENDENT AUDITORS' REPORT TO THE TRUSTEE OF KING EDWARD VI GRAMMAR SCHOOL, NORWICH (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustee is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

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

Responsibilities of the Trustee

As explained more fully in the Statement of Responsibilities of the Council of Management, the Trustee is responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustee determines 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 Trustee is responsible for assessing the Group's and the parent Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee either intends to liquidate the Group or the parent Charity or to cease operations, or has no realistic alternative but to do so.

Page 24

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEE OF KING EDWARD VI GRAMMAR SCHOOL, NORWICH (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Due to the field in which the Charity operates, we identified the areas most likely to have a direct material impact on the financial statements as compliance with accounting standards, including Charities SORP (FRS 102) and charity law. In addition, we considered the provisions of other laws and regulations which, whilst not having a direct impact on the financial statements, are fundamental to the Charity’s ability to operate, including safeguarding requirements, health and safety, employment law, data protection and compliance with various other regulations relevant to the conduct of the Charity’s operations.

Our approach to identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, included the following:

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 25

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEE OF KING EDWARD VI GRAMMAR SCHOOL, NORWICH (CONTINUED)

Use of our report

This report is made solely to the Charity's Trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's Trustee those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and its Trustee, as a body, for our audit work, for this report, or for the opinions we have formed.

Larking Gowen LLP King Street House 15 Upper King Street Norwich Norfolk NR3 1RB 29 June 2022

Larking Gowen LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 26

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021

Note
Income and
endowments from:
Donations and legacies
4
Charitable activities
5
Investments
6
Other income
7
Total income and
endowments
Expenditure on:
Charitable activities
8
Total expenditure
Net gains/(losses) on
investments
Transfers between
funds
22
Net movement in
funds before other
recognised
gains/(losses)
Other recognised
gains/(losses):
Gains on revaluation of
fixed assets
Actuarial losses on
defined benefit pension
schemes
19
Net movement in
funds		 Unrestricted
funds
2021
£000
-
19,912
49
50
20,011
20,413
20,413
90
(114)
(426)
155
(72)
(343)		 Restricted
funds
2021
£000
802
-
29
-
831
522
522
114
114
537
-
-
537		 Endowment
funds
2021
£000
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
funds
2021
£000
802
19,912
78
50
20,842
20,935
20,935
204
-
111
155
(72)
194		 As restated
Total
funds
2020
£000
555
20,347
91
316
21,309
20,159
20,159
(67)
-
1,083
-
(9)
1,074

Page 27

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Note
Reconciliation of
funds:
Total funds brought
forward as previously
stated
Prior year adjustment
29
Total funds brought
forward as restated
Net movement in funds
Total funds carried
forward		 Unrestricted
funds
2021
£000
15,590
(1,089)
14,501
(343)
14,158		 Restricted
funds
2021
£000
1,924
-
1,924
537
2,461		 Endowment
funds
2021
£000
3,273
-
3,273
-
3,273		 Total
funds
2021
£000
20,787
(1,089)
19,698
194
19,892		 As restated
Total
funds
2020
£000
19,713
(1,089)
18,624
1,074
19,698

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

The notes on pages 34 to 64 form part of these financial statements.

Page 28

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2021

Note
Fixed assets
Tangible assets
11
Investments
13
Investment property
12
Current assets
Stocks
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
16
Net assets excluding pension liability
Defined benefit pension scheme liability
19
Total net assets		 29
953
7,769
8,751
(4,623)		 2021
£000
14,669
1,804
730
17,203
4,128
21,331
(998)
20,333
(439)
19,894		 37
934
5,679
6,650
(3,534)		 As restated
2020
£000
15,989
1,633
575
18,197
3,116
21,313
(1,171)
20,142
(444)
19,698

Page 29

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2021

Note
Charity funds
Endowment funds
22
Restricted funds
22
Unrestricted funds
22
Total funds		 2021
£000
3,273
2,461
14,160
19,894		 2020
£000
3,273
1,924
14,501
19,698

The financial statements were approved and authorised for issue by the Trustee and signed on their behalf by:

................................................

P J E Smith, MA Chairman

................................................ Dr S C Bamber Vice Chairman

Date: 2 76 June 2022

The notes on pages 34 to 64 form part of these financial statements.

Page 30

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CHARITY BALANCE SHEET AS AT 31 AUGUST 2021

Note
Fixed assets
Tangible assets
11
Investments
13
Investment property
12
Current assets
Stocks
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
16
Net assets excluding pension liability
Defined benefit pension scheme liability
19
Total net assets		 29
953
7,769
8,751
(4,622)		 2021
£000
14,669
1,804
730
17,203
4,129
21,332
(998)
20,334
(439)
19,895		 37
935
5,679
6,651
(3,533)		 As restated
2020
£000
15,989
1,633
575
18,197
3,118
21,315
(1,171)
20,144
(444)
19,700

Page 31

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CHARITY BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2021

Note
Charity funds
Endowment funds
22
Restricted funds
22
Unrestricted funds
22
Total unrestricted funds
22
Total funds		 14,341 2021
£000
3,273
2,281
14,341
19,895		 14,503 2020
£000
3,273
1,924
14,503
19,700

The financial statements were approved and authorised for issue by the Trustee and signed on their behalf by:

................................................ P J E Smith, MA Chairman

................................................ Dr S C Bamber Vice Chairman

Date: 27 June 202226 June 2022

The notes on pages 34 to 64 form part of these financial statements.

Page 32

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Proceeds from the sale of tangible assets
Payments to acquire tangible fixed assets
Receipts from sale of investments
Payments to acquire investments
Interest received
Dividends received
Rentals received from investment properties
Net cash used in investing activities
Cash flows from financing activities
Repayments of long term loans
Interest paid
Repayments of hire purchase finance
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 34 to 64 form part of these financial statements		 2021
£000
2,844
44
(681)
194
(205)
7
40
31
(570)
(166)
(13)
(6)
(185)
2,089
5,680
7,769		 2020
£000
2,377
11
(1,135)
608
(619)
5
43
43
(1,044)
(158)
(19)
(14)
(191)
1,142
4,538
5,680

Page 33

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

1. General information

King Edward VI Grammar School, Norwich is a charity registered in England and Wales, charity number 311280. The registered office is 71a The Close, Norwich, Norfolk, NR1 4DD.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) revised October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

King Edward VI Grammar School, Norwich meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Group and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

2.2 Going concern

Norwich School’s response to the Coronavirus pandemic continues to be informed by guidance from the relevant statutory authorities, and with the cessation of operational restrictions, a welcome return to the usual educational experience has been evident.

Whilst we now, thankfully, appear to be moving away from the disruption of the pandemic, the School are very mindful of ongoing international events that are causing serious global economic consequences, these being most obvious with regards the inflationary pressures and cost of living challenges we all are facing. Yet again, the School must continue to deliver outstanding, holistic education whilst operating in the toughest of economic climates, mitigating increasing costs and keeping a close eye on both the short and mid-term requirements of the business.

The School are very mindful of the impact of such economic pressures on the whole School community and are determined to manage revenue streams in a considerate and flexible manner to ensure continuity of education whilst meeting obligations and maintaining the underlying core stability of the business model. When setting fees and salaries for the coming year, the Council of Management strongly believe that the School must carry some of this pressure and therefore surplus levels will be diminished within the period.

However, with good projected income, robust levels of working capital, a strong balance sheet, appropriate levels of both interest and debt cover allied to prudent cash flow management (and access to additional funding if needed) the School feel able to address the continuing economic challenges whilst delivering the core offering.

Page 34

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

2. Accounting policies (continued)

2.3 Fund accounting

Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the Council of Management.

Unrestricted designated funds are funds earmarked by the Council of Management for particular purposes.

Restricted funds are funds that can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Endowment funds are funds that must be held permanently by the Charity consisting of investments, properties and the original school buildings.

2.4 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

2.5 Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes VAT and is reported as part of the expenditure to which it relates:

Page 35

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

2. Accounting policies (continued)

2.5 Expenditure (continued)

2.6 Tangible fixed assets and depreciation

The Charity elected to use a previous valuation as deemed cost for freehold and long-term leasehold properties held at the Charity's date of transition to FRS 102 of 1 September 2014. Additions made to freehold and long-term leasehold properties since this date have been accounted for at cost and depreciated on the basis set out below.

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land and assets under construction are not depreciated.

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

Depreciation is provided on the following basis:

Freehold buildings - Over the expected useful life of the asset
Long-term leasehold property - Over the expected useful life of the asset
Short-term leasehold property, - 2% - 25%
fixtures, fittings & equipment
Motor vehicles - 10% - 14%

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively, if appropriate or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and recognised in the Consolidated Statement of Financial Activities.

Page 36

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

2. Accounting policies (continued)

2.7 Investments

Investments held for the long-term to generate income and preserve capital in real terms are carried at market value as fixed assets. Investments are held as part of the designated Development Fund and the restricted Scholarship Fund.

The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.

2.8 Investment property

Freehold investment properties are included at a valuation determined by the Council of Management on an annual basis based on formal valuations prepared by a firm of property and business consultants.

2.9 Stocks

Stock consists of goods for resale and is valued at the lower of cost and net realisable value. Expenditure on teaching materials is written off immediately when incurred.

2.10 Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2.11 Pensions

The School contributes to the Teachers' Pension Scheme (TPS). This is a defined benefit scheme and the assets are held separately from those of the School. The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees' working lives with the School in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. The TPS is a multi-employer scheme and there is insufficient information available to use defined benefit accounting. The TPS is therefore treated as a defined contribution scheme and the contributions recognised in the period to which they relate.

The School operated a defined benefit pension scheme for non-teaching staff which provided benefits based on final pensionable salary. The assets of the scheme were held separately from those of the School being invested with an insurance company. As from 5 April 2004 contributions to secure benefits accruing after this date ceased and ongoing contributions are made to eliminate the funding deficit.

The School also operates a defined contribution scheme. The assets of the scheme are held separately from those of the School. The annual contributions payable are charged to the Statement of Financial Activities.

2.12 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 37

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

2. Accounting policies (continued)

2.13 Cash at bank and in hand

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

2.14 Liabilities

Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost.

2.15 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.16 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.17 Government grants

Grants of a revenue nature are recognised in the Statement of Financial Activities in the same period as the related expenditure.

2.18 Finance leases and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Group. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Consolidated Statement of Financial Activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 38

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgment:

Defined benefit pension scheme

The present value of the defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 19, will impact the carrying amount of the pension liability. Furthermore, a roll forward approach which projects results from the latest full actuarial valuation performed at 6 April 2018 has been used by the actuary in valuing the pensions liability at 31 August 2021. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.

Valuation of investment properties

Investment properties must be valued at open market value, which should factor in any impairment, either specific to the investment asset, or arising more generally from sector or market conditions. Alternatively, any increase in value arising from enhancement to the asset or from wider sector or market conditions. Professional valuations of the investment properties are expected to be undertaken on a regular basis (although not necessarily annually) to assist management in assessing the valuation of investment property at each accounting period end. Investment properties are accounted for in accordance with note 2.8 and are disclosed in note 12.

Depreciation and impairment of tangible fixed assets

The Charity should select a depreciation method that reflects the pattern in which it expects to consume the asset's future economic benefits and must consider whether a straight line or reducing balance basis is most appropriate for each class of assets. If there is an indication that there has been a significant change since the last annual reporting date, for example where costs incurred in relation to future projects are no longer expected to carry any future value, the Council of Management must review its present depreciation method and, if current expectations differ, change the depreciation method to reflect the new pattern. Depreciation methods adopted are disclosed in note 2.6 and carrying values of tangible fixed assets as at 31 August 2021 are disclosed in note 11.

Bad and doubtful debt provision

The bad and doubtful debt provision relates to unpaid pupil fees. The Council of Management review all outstanding debts at the year end to consider which debts may not be settled in full and calculate a provision on this basis. Trade debtors, which relates to amounts owed in relation to tuition and associated fees, are disclosed net of the bad and doubtful provision assessed in note 14.

Page 39

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

4. Income from donations and legacies

Unrestricted
funds
2021
£000
Donations and legacies
-
Unrestricted
funds
2020
£000
Donations and legacies
10		 Restricted
funds
2021
£000
802
Restricted
funds
2020
£000
545		 Total
funds
2021
£000
802
Total
funds
2020
£000
555

5. Income from charitable activities

Unrestricted
funds
2021
£000
Tuition fees
18,956
Other educational income
307
Other ancillary income
105
School meals
544
Total 2021
19,912		 Total
funds
2021
£000
18,956
307
105
544
19,912

Page 40

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

5. Income from charitable activities (continued)

Tuition fees
Other educational income
Other ancillary income
School meals
Total 2020		 Unrestricted
funds
2020
£000
19,208
453
194
492
20,347		 Total
funds
2020
£000
19,208
453
194
492
20,347

6. Investment income

Unrestricted
funds
2021
£000
Rental income
31
Income from investments
11
Deposit account interest and interest from other debtors
7
Total 2021
49		 Restricted
funds
2021
£000
-
29
-
29		 Total
funds
2021
£000
31
40
7
78
Income from investments
Rental income
Deposit account interest and interest from other debtors
Total 2020		 Unrestricted
funds
2020
£000
-
43
5
48		 Restricted
funds
2020
£000
43
-
-
43		 Total
funds
2020
£000
43
43
5
91

Page 41

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

7. Other incoming resources

Unrestricted
funds
2021
£000
Loss on disposal of tangible fixed assets
1
Government grant income
49
50		 Total
funds
2021
£000
1
49
50

Government grants received during the year were in relation to the Covid-19 pandemic and relate to £49,000 (2020: £284,000) from the Coronavirus Job Retention Scheme and £Nil (2020: £35,000) of local government grants.

Loss on disposal of tangible fixed assets
Government grant income		 Unrestricted
funds
2020
£000
(3)
319
316		 Total
funds
2020
£000
(3)
319
316

Page 42

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

8. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2021
£000
Teaching and education
11,608
Welfare
950
Establishment
4,379
Support costs
1,895
Finance costs
98
Governance costs
107
Prizes, awards, scholarships and financial assistance
1,369
Defined benefit pension scheme-administrative expenses
(note 19)
7
Total 2021
20,413		 Restricted
funds
2021
£000
-
-
-
-
-
-
522
-
522		 Total
funds
2021
£000
11,608
950
4,379
1,895
98
107
1,891
7
20,935

Establishment costs include an impairment charge of £916,298 (2020: £196,000) related to costs capitalised in respect of a proposed refectory development, for which planning permission has been rejected by both Norwich City Council and (on appeal) the Planning Inspectorate.

Teaching and education
Welfare
Establishment
Support costs
Finance costs
Governance costs (see below)
Prizes, awards, scholarships and financial assistance
Defined benefit pension scheme-administrative expenses
(note 19)
Total 2020		 Unrestricted
funds
2020
£000
11,016
904
3,476
1,947
52
69
2,214
9
19,687		 Restricted
funds
2020
£000
-
-
-
-
-
-
472
-
472		 Total
funds
2020
£000
11,016
904
3,476
1,947
52
69
2,686
9
20,159

Page 43

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

8. Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)

Prizes, awards, scholarships and financial assistance as set out above for 2020 includes an amount of £622,830 in respect of the Council of Management's special 10% discount for Trinity term 2020 during the period of remote learning as a result of the Covid-19 pandemic.

Summary by expenditure type

Teaching and education
Welfare
Establishment
Support costs
Finance costs
Governance costs (see below)
Prizes, awards, scholarships and financial
assistance
Defined benefit pension scheme costs (note
19)
Total 2021		 Staff costs
2021
£000
9,067
140
435
864
-
-
-
-
10,506		 Depreciation
2021
£000
436
-
1,508
-
-
-
-
-
1,944		 Other costs
2021
£000
2,105
810
2,436
1,031
98
107
1,891
7
8,485		 Total
funds
2021
£000
11,608
950
4,379
1,895
98
107
1,891
7
20,935
Teaching and education
Welfare
Establishment
Support costs
Finance costs
Governance costs (see below)
Prizes, awards, scholarships and financial
assistance
Defined benefit pension scheme costs (note
19)
Total 2020		 Staff costs
2020
£000
8,816
151
372
902
-
-
-
-
10,241		 Depreciation
2020
£000
538
-
770
-
-
-
-
-
1,308		 Other costs
2020
£000
1,662
753
2,334
1,045
52
69
2,686
9
8,610		 Total
funds
2020
£000
11,016
904
3,476
1,947
52
69
2,686
9
20,159

Page 44

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

Analysis of expenditure on charitable activities (continued)

Analysis of governance costs:
Governors' expenses
Trustee and Professional indemnity insurance
Audit, accountancy and legal fees		 2021
£000
1
13
93
107		 2020
£000
4
9
56
69

9. Auditors' remuneration

2021 2020
£000 £000
Fees payable to the Charity's auditor and its associates for the audit of the
Charity's annual accounts 14 12
Fees payable to the Charity's auditor and its associates in respect of:
Teachers' Pension audit 1 1

10. Staff costs

Wages and salaries
Social security costs
Pension costs		 Group
2021
£000
8,252
841
1,413
10,506		 Group
2020
£000
7,989
792
1,460
10,241		 Charity
2021
£000
8,252
841
1,413
10,506		 Charity
2020
£000
7,989
792
1,460
10,241

Page 45

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

10. Staff costs (continued)

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

Teaching staff
Support staff		 Group
2021
No.
135
155
290		 Group
2020
No.
138
114
252

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

Group Group
2021 2020
No. No.
In the band £60,001 - £70,000 2 3
In the band £70,001 - £80,000 3 3
In the band £80,001 - £90,000 1 -
In the band £90,001 - £100,000 1 -
In the band £120,001 - £130,000 - 1
In the band £140,001 - £150,000 1 -

Pension contributions amounting to £Nil (2020 - £Nil) were made in the year for the provision of money purchase benefits for none of (2020 - none of) the above employees.

No member of the Council of Management received any remuneration from the trustee company or School, with the exception of a Staff Governor who only received remuneration in respect of the services he provided undertaking a teaching role, and not in respect of his services as a member of the Council of Management.

No member of the Council of Management was reimbursed for out-of-pocket travel expenditure and attending training courses (2020 - one member, £458).

Key management remuneration in the year totalled £906k (2020 - £908k) in respect of the Head Master, Bursar and Senior Leadership Team as listed on pages 1 and 2.

Page 46

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

11. Tangible fixed assets

Group and Charity

Cost or valuation
At 1 September 2020
Additions
Disposals
At 31 August 2021
Depreciation
At 1 September 2020
Charge for the year
On disposals
Impairment charge
At 31 August 2021
Net book value
At 31 August 2021
At 31 August 2020
(as restated)		 Freehold
property
£000
6,999
-
-
6,999
675
143
-
-
818
6,181
6,324		 Long-term
leasehold
property
£000
7,533
21
-
7,554
1,483
169
-
-
1,652
5,902
6,050		 Other fixed
assets
£000
7,309
609
(914)
7,004
4,634
694
(856)
-
4,472
2,532
2,675		 Motor
vehicles
£000
163
-
-
163
88
21
-
-
109
54
74		 Assets under
construction
£000
866
51
-
917
-
-
-
917
917
-
866		 Total
£000
22,870
681
(914)
22,637
6,880
1,027
(856)
917
7,968
14,669
15,989

A prior year adjustment has been reflected in relation to freehold and long-term leasehold properties, as detailed in note 29. Certain further property assets have now also been classified as assets under construction.

Page 47

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

12. Investment property

Group

Valuation
At 1 September 2020
Surplus on revaluation
At 31 August 2021
Charity
Valuation
At 1 September 2020
Surplus on revaluation
At 31 August 2021		 Freehold
investment
property
£000
575
155
730
Freehold
investment
property
£000
575
155
730

The freehold investment properties are included at open market valuation determined by the Council of Management's valuation as at 31 August 2021, based on a formal valuation dated 15 October 2021 by Brown & Co - Property and Business Consultants LLP. The properties are held to produce income and capital growth and have an estimated historical cost of £116,432 (2020 - £116,432).

Page 48

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

13. Fixed asset investments

Group and Charity
Cost or valuation
At 1 September 2020
Additions
Disposals
Revaluations
At 31 August 2021
Net book value
At 31 August 2021
At 31 August 2020
The majority of investments were gifted.		 Listed
investments
£000
1,633
205
(194)
160
1,804
1,804
1,633

The historic cost of listed investments on 31 August 2021 was £1,302k (2020 - £1,272k).

The School owns the entire issued share capital, £2, of its subsidiary undertaking Norwich School Enterprises Limited, a company registered in England and Wales (company number 03538479), which is now dormant. As at 31 August 2021, the company had net liabilities amounting to £1,596 (2020 - £1,596).

All investments are listed on the London Stock Exchange other than the investment in Norwich School Enterprises Limited.

An investment in Charifund income units represents more than 5% of the value of the total portfolio. On 31 August 2021, the market value of this investment was £93,673 (2020 - £74,255).

Investments are allocated between the funds as set out in note 24 of the financial statements.

Page 49

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

14. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2021
£000
202
-
57
694
953		 Group
2020
£000
316
-
11
607
934		 Charity
2021
£000
201
1
57
694
953		 Charity
2020
£000
316
1
11
607
935

15. Creditors: Amounts falling due within one year

Bank loans
Fees received in advance
Trade creditors
Other taxation and social security
Obligations under finance lease and hire
purchase contracts
Other creditors
Accruals and deferred income		 Group
2021
£000
194
3,155
596
221
6
116
335
4,623		 Group
2020
£000
194
2,082
610
200
5
136
307
3,534		 Charity
2021
£000
194
3,155
596
221
6
116
334
4,622		 Charity
2020
£000
194
2,082
610
200
5
136
306
3,533

Obligations under finance lease and hire purchase contracts of £6k (2020: £5k) are secured on the assets to which the liability relates.

Deferred income consists of £3,155k (2020: £2,082k) fees received in advance and £Nil (2020: £17k) of income received in respect of future trips, which is disclosed as accruals and deferred income.

Page 50

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

Creditors: Amounts falling due within one year (continued)

Deferred income at 1 September 2020
Resources deferred during the year
Amounts released from previous periods
Deferred income at 31 August 2021		 Group
2021
£000
2,099
3,061
(2,005)
3,155		 Group
2020
£000
2,179
2,099
(2,179)
2,099		 Charity
2021
£000
2,099
3,061
(2,005)
3,155		 Charity
2020
£000
2,179
2,099
(2,179)
2,099

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

Bank loans
Net obligations under finance lease and hire
purchase contracts		 Group
2021
£000
979
19
998		 Group
2020
£000
1,145
26
1,171		 Charity
2021
£000
979
19
998		 Charity
2020
£000
1,145
26
1,171

Obligations under finance lease and hire purchase contracts of £19k (2020: £26k) are secured on the assets to which the liability relates.

Page 51

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

17. Hire purchase and finance leases

Minimum lease payments under hire purchase fall due as follows:

Group and Charity
Within one year
Between 1-5 years
Less: finance charges allocated to future periods		 2021
£000
7
22
(4)
25		 2020
£000
7
29
(6)
30

18. Capital commitments

Group Group Charity Charity
2021 2020 2021 2020
£000 £000 £000 £000
Contracted for but not provided in these
financial statements
Lower School refurbishment works - 41 - 41

Page 52

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

19. Pension commitments

Teachers' Pension Scheme

Introduction

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers' Pension Scheme Regulations 2014 (as amended). Membership is automatic for full-time teachers and, from 1 January 2007, automatic for teachers in part-time employment following appointment or a change of contract, although they are able to opt out.

The TPS is an unfunded scheme and members contribute on a "pay as you go" basis - these contributions along with those made by employers are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Valuation of the Teachers' Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors.

The latest valuation of the Teachers’ Pension Scheme took place, in line with directions issued by HM Treasury and using membership data as at 31 March 2016. As a result of this valuation TPS employers contribution rates were set at 23.68% from September 2019 (this includes the administration levy of 0.8%).

The employer's pension costs paid to TPS in the year amounted to £1,399k (2020: £1,288k).

A copy of the latest valuation report can be found on the Teachers’ Pension Scheme website.

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The School has accounted for its contributions to the scheme as if it were a defined contribution scheme. The School has set out above the information available on the scheme.

Scheme changes

The arrangements for a reformed Teachers’ Pension Scheme, in line with the recommendations made by Lord Hutton, in particular the introduction of a Career Average Revalued Earnings (CARE) scheme, were implemented from 1 April 2015.

In December 2018, the Court of Appeal held that transitional protection provisions contained in the reformed judicial and firefighter pension schemes, introduced as part of public service pension reforms in 2015, gave rise to direct age discrimination and were therefore unlawful. The Supreme Court, in a decision made in June 2019, have rejected the Government’s application for permission to appeal the Court of Appeal’s ruling. The case will now be referred to an Employment Tribunal for a decision regarding the remedy which will need to be offered to those members of the two schemes who were subject of the age discrimination.

HM Treasury are clear that the ruling has implications for the other public service schemes, including the Teachers’ Pension Scheme. Those implications are currently being considered and any impact on scheme costs is expected to be looked at within the next scheme valuation, which is currently scheduled to be based on April 2020 data and implemented in April 2023.

Page 53

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

19. Pension commitments (continued)

Norwich School Defined Contribution Scheme

The School also operates a defined contribution scheme. The assets of the scheme are held separately from those of the School. The annual contributions payable are charged to the Statement of Financial Activities.

Norwich School Defined Benefit Pension Scheme

The Group operates a defined benefit pension scheme.

The Norwich School Pension Scheme, for non-teaching staff, is operated in the UK. A comprehensive actuarial valuation of the Scheme was carried out as at 6 April 2019, which has been updated to 31 August 2021 by a qualified independent actuary.

Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):

At 31 August At 31 August
2021 2020
% %
Discount rate 1.6 1.7
Price inflation (CPI) 2.6 2.2
Future increases to pensions deferment 2.6 2.2
Future increases to pensions in payment 3.8 3.5
At 31 August At 31 August
2021 2020
Years Years
Mortality rates (in years)
- for a male aged 65 now 86.9 87.4
- at 65 for a male aged 45 now 88.2 88.7
- for a female aged 65 now 89.3 89.6
- at 65 for a female aged 45 now 90.7 91.0

The Group's share of the assets in the scheme was:

At 31 August
2021
£000
Cash and other liquid assets
112
Investment funds
470
Total fair value of assets
582		 At 31 August
2020
£000
85
446
531

Page 54

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

19. Pension commitments (continued)

The actual return on scheme assets was £16,000 gain (2020 - £16,000 loss) .

The amounts recognised in the Consolidated Statement of Financial Activities are as follows:

2021
£000
Interest income
(9)
Interest cost
16
Total amount recognised in the Consolidated Statement of Financial
Activities (note 8)
7
Movements in the present value of the defined benefit obligation were as follows:
2021
£000
Opening defined benefit obligation
975
Interest cost
16
Actuarial losses/(gains)
88
Benefits paid
(58)
Closing defined benefit obligation
1,021		 2020
£000
(10)
19
9
2020
£000
1,009
19
(7)
(46)
975

Page 55

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

19. Pension commitments (continued)

Movements in the fair value of the Group's share of scheme assets were as follows:

Opening fair value of scheme assets
Expected return on assets
Actuarial gains/(losses)
Contributions by employer
Benefits paid
Closing fair value of scheme assets		 2021
£000
531
9
16
84
(58)
582		 2020
£000
501
10
(16)
82
(46)
531

20. Operating lease commitments

At 31 August 2021 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 Group
2021
£000
518
1,196
518
2,232		 Group
2020
£000
526
1,496
728
2,750		 Charity
2021
£000
518
1,196
518
2,232		 Charity
2020
£000
526
1,496
728
2,750

Page 56

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

21. Related party transactions

The assets and liabilities of the School are vested in a company limited by guarantee known as Norwich School, which acts as a bare trustee for the School. No transactions occurred between the School and the company during the year under review.

At 31 August 2021 the School was owed £2,255 (2020: £2,255) by Norwich School Enterprises Limited, which is dormant.

The School rents the majority of its properties from the Chapter of Norwich Cathedral which was represented on the Council of Management during the year and the previous year by The Very Reverend Dr J B Hedges and The Reverend Canon A Platten. The rents in the year, including those for the use of the Cathedral for the School's assemblies, amounted to £287,014 (2020: £293,465). Also the Chapter's 100% subsidiary company, Norwich Cathedral Enterprises Limited, provided catering services to the School totalling £161 (2020: £294).

Ms D G M Jarrold, member of the Council of Management, is a director of Jarrold and Sons Limited, which, together with its division, Jarrold Training, provided goods and services to the School during the year totalling £7,593 (2020: £9,823). The School also received sponsorship income from Jarrold and Sons Limited during the year of £NIL (2020: £550).

Mr J M Hunter, member of the Council of Management, is a member of Mills and Reeve LLP, which provided legal services to the School during the year totalling £54,922 (2020: £15,519). This individual is also a Non-Executive Director of Barratt & Cooke Limited, who provided investment management services to the School amounting to £Nil this year (2020: £Nil).

Mrs A Sarkar Roy, member of the Council of Management, is a Non-Executive Trustee of 8th Norwich Sea Scouts. The School made purchases from and sales to this charity during the year of £1,051 and £23,759 respectively. At the year end, £11,292 was owed to the School. Mrs A Sarkar Roy was not a member of the Council of Management in the prior year and so comparative amounts have not been disclosed.

Mr N Q Back, member of the Council of Management, is the Chair of the Norfolk Club, of which the School uses the gym facilities. The School made purchases from this charity during the year of £887 (2020: £3,705) and there were amounts outstanding at the year end of £550 (2020: £550).

Six members of the Council of Management, The Reverend Canon A Platten, Mr J M D Schofield, Dr A C Wood, Mr A R Grant, Mr J M Hunter and Mrs A Sarkar Roy have children or grandchildren at the School. Fees paid by these members are at the same rates applicable to all pupils. One member is in receipt of means-tested assistance.

Page 57

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

22. Statement of funds

Statement of funds - current year

Balance at 1
September
2020 (as
restated)
£000
Designated
funds
Development
fund
561
Covid-19
Response fund
375
936
General funds
General Funds -
all funds
13,565
Total
Unrestricted
funds
14,501
Endowment
funds
Permanent
endowment
3,273
Restricted
funds
Bursary funds
135
Other restricted
funds
856
Scholarship
funds
933
1,924
Total of funds
19,698		 Income
£000
Expenditure
£000
11
-
-
-
11
-
20,001
(20,413)
20,012
(20,413)
-
-
372
(207)
424
(303)
35
(12)
831
(522)
20,843
(20,935)		 Transfers
in/out
£000
-
(375)
(375)
261
(114)
-
-
-
114
114
-		 Gains/
(Losses)
£000
46
-
46
128
174
-
-
-
114
114
288		 Balance at
31 August
2021
£000
618
-
618
13,542
14,160
3,273
300
977
1,184
2,461
19,894

Page 58

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

22. Statement of funds (continued)

Statement of funds - prior year

Designated
funds
Development
fund
Covid-19
Response fund
General funds
General Funds -
all funds
Total
Unrestricted
funds
Endowment
funds
Permanent
endowment
Restricted
funds
Bursary funds
Other restricted
funds
Scholarship
funds		 Balance at
1 September
2019 (as
restated)
£000
546
-
546
12,836
13,382
3,273
133
791
1,045
1,969		 Income
£000
-
-
-
20,721
20,721
-
105
434
49
588		 Expenditure
£000
-
-
-
(19,687)
(19,687)
-
(103)
(369)
-
(472)		 Transfers
in/out
£000
23
375
398
(296)
102
-
-
-
(102)
(102)		 Gains/
(Losses)
£000
(8)
-
(8)
(9)
(17)
-
-
-
(59)
(59)		 Balance at
31 August
2020 (as
restated)
£000
561
375
936
13,565
14,501
3,273
135
856
933
1,924

Page 59

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

22. Statement of funds (continued)

Total of funds Balance at
1 September
2019 (as
restated)
£000
18,624		 Income
£000
21,309		 Expenditure
£000
(20,159)		 Transfers
in/out
£000
-		 Gains/
(Losses)
£000
(76)		 Balance at
31 August
2020 (as
restated)
£000
19,698

Endowment fund

The permanent endowment fund consists of investments, properties and the original school buildings arising from endowments.

Restricted funds

Restricted bursary funds include the funds set out below:

The Anne French Bursary - interest on the fund is used for the education of children of the clergy.

Bowling Family Bursary - this is a Senior School bursary awarded to one particular student.

Cathedral Chorister Fund - funds received from Norwich Cathedral to contribute towards fees of choristers who attend Norwich School.

The ON Bursary Fund consists of funds received from alumni (Old Norvicensians) towards bursaries.

Choir Schools Association Bursary, Dyers Bursary Award, French Huguenot Trust Bursary, The Friends of Norwich School Bursary, Charles Peel Bursary, Staff Bursary and The Wait Family Bursary, MorseBoycott Trust Bursary, Roger Robinson Bursary - means tested bursary awards to pupils requiring financial assistance towards their school fees.

Other restricted funds include the funds set out below:

The Annual Fund - Headmaster's Discretionary Fund - funds received from the public towards projects which directly benefit the School, its pupils and the wider community.

The Annual Fund - Pupil Enrichment Fund - funds received from the public towards specific projects to encourage the children at the School to develop broader skills and equip them for life.

Capital Fund - funds raised for planned building projects at the School.

Easter Course/Ogden Trust/Shine grants - represents funds received towards the continuation and extension of physics outreach work, the set up and delivery of a language programme and various school holiday courses for pupils of other local schools.

Gawdy Legal Award - a prize for a pupil who wishes to pursue a legal career. The award is sponsored by local legal firm Ashton KCJ and named after Old Norvicensian Sir Thomas Gawdy who was a prominent lawyer in Tudor times.

Horatio Society - funds raised by pupils to be allocated to projects in the School at their discretion.

Page 60

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

Statement of funds (continued)

Investing in Our Future - an annual fund campaign that encouraged people to give to one of three pots (Head Master's discretionary Fund, Pupil Enrichment Fund or Bursaries) under the umbrella term of Investing in Our Future.

Sebastian John Award - Funds received from the public to create a pupil award fund in memory of a former pupil who died.

The Council of Management separately maintains a Scholarship Fund, which provides monies towards the provision of prizes, awards, scholarships and financial assistance for pupils of the School. A Dyers Scholarship Fund was also created during the year for the benefit of specific pupils.

Designated Funds

The Council of Management designates certain funds on an annual basis.

During the preceding year a Covid-19 Response Fund was created to provide for extraordinary expenditure during the 2020-21 Academic year relating to the pandemic. The Covid-19 Response Fund of £375k designated in the previous accounting year was expended in full in the year. The costs incurred by the School are reflected in the Statement of Financial Activities and the designation of £375k is therefore released to general reserves.

The balance remaining on the designated fund reflects a Development Fund, which relates to amounts designated for future School projects. Funds allocated for this purpose are invested within the School’s listed investment portfolio. Income allocated to this fund relates to dividends received from listed investments. Gains/(losses) during the year relate to gains on revaluation and on disposal of listed investments.

23. Summary of funds

Summary of funds - current year

Balance at 1
September
2020 (as
restated)
£000
Designated
funds
936
General funds
13,565
Endowment
funds
3,273
Restricted funds
1,924
19,698		 Income
£000
Expenditure
£000
11
-
20,001
(20,413)
-
-
831
(522)
20,843
(20,935)		 Transfers
in/out
£000
(375)
261
-
114
-		 Gains/
(Losses)
£000
46
128
-
114
288		 Balance at
31 August
2021
£000
618
13,542
3,273
2,461
19,894

Page 61

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

23. Summary of funds (continued)

Summary of funds - prior year

Designated
funds
General funds
Endowment
funds
Restricted funds		 Balance at
1 September
2019 (as
restated)
£000
546
12,836
3,273
1,969
18,624		 Income
£000
-
20,721
-
588
21,309		 Expenditure
£000
-
(19,687)
-
(472)
(20,159)		 Transfers
in/out
£000
398
(296)
-
(102)
-		 Gains/
(Losses)
£000
(8)
(9)
-
(59)
(76)		 As restated
Balance at
31 August
2020
£000
936
13,565
3,273
1,924
19,698

24. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
Total		 Unrestricted
funds
2021
£000
12,279
465
730
6,746
(4,623)
(998)
(439)
14,160		 Restricted
funds
2021
£000
-
1,184
-
1,277
-
-
-
2,461		 Endowment
funds
2021
£000
2,390
155
-
728
-
-
-
3,273		 Total
funds
2021
£000
14,669
1,804
730
8,751
(4,623)
(998)
(439)
19,894

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

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

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Dividends received
Rents received from investment properties
Interest receivable
Interest payable
Depreciation
(Gains)/losses on investments
Loss on disposal of fixed assets
Decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Pension scheme non-cash movements
Impairment of tangible fixed assets
Net cash provided by operating activities
26.
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents		 Group
2021
£000
111
(40)
(31)
(7)
13
1,027
(204)
58
8
(19)
1,088
(77)
917
2,844
Group
2021
£000
7,769
7,769		 Group
2020
£000
1,083
(43)
(43)
(5)
19
1,113
67
3
2
222
(164)
(73)
196
2,377
Group
2020
£000
5,680
5,680

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

27. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
Finance leases
28.
Financial instruments
Financial assets
Financial assets measured at fair value
through income and expenditure		 At 1
September
2020
£000
5,679
(194)
(1,145)
(31)
4,309
Group
2021
£000
1,804		 Cash flows
£000
2,090
-
177
8
2,275
Group
2020
£000
1,633		 Other non-
cash
changes
£000
-
-
(11)
(2)
(13)
Charity
2021
£000
1,804		 At 31
August
2021
£000
7,769
(194)
(979)
(25)
6,571
Charity
2020
£000
1,633

Financial assets measured at fair value through income and expenditure comprises listed investments.

29. Prior year adjustments

An adjustment to reserves brought forward at 1 September 2019 and 1 September 2020 of £1,088,721 relates to depreciation and impairment charges in respect of freehold and leasehold properties, not accounted for in previous periods . The comparative surplus has not been affected by this adjustment.

As a result of the above, the net book value of fixed assets at 31 August 2020 has been reduced by £1,088,721, as shown in note 11.

30. Post balance sheet events

In April 2022, an appeal to the National Planning Inspectorate, which was submitted in May 2021, was rejected. The planning application related to a proposed refectory development at the Bishop's Palace Lawn site.

As a result, an impairment charge of £916,298, related to planning costs associated with the project, has been recognised against assets under construction (see note 11).

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