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2025-08-31-accounts

Charity number: 311280

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

TRUSTEE'S REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

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 - 23
Independent Auditors' Report on the Financial Statements 24 - 27
Consolidated Statement of Financial Activities 28
Consolidated Balance Sheet 29 - 30
Charity Balance Sheet 31 - 32
Consolidated Statement of Cash Flows 33
Notes to the Financial Statements 34 - 63

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEE AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025

Council of Management Dr A C Wood, OBE (Chairman) ** N Q Back Dr S C Bamber (Vice Chairman) (resigned 31 August 2025) ** The Very Reverend Dr A Braddock P J Henderson J M Hunter ** Ms. D G M Jarrold, MA Cantab ** H C Jourdain (resigned 31 August 2025) A R M Little, FRSA R S Moncrief The Reverend Canon A Platten N Puvanachandra Mrs. H Salmon Mrs. A Sarkar Roy J M D Schofield, LLB, FCA (resigned 2 October 2024) ** G S Smith D W Talbot, FCA Mr. J Wells Mrs. D A Willmott Dr D F Wood MA, MD, FRCP (resigned 21 March 2025) Miss T J Yates, BA Professor K H Yeoman (resigned 31 August 2025)

** 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) Head S D A Griffiths Bursar C J P Evans Assistant Bursar N M Reynolds Senior Leadership Team The Head, 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) A Rowlandson BA - Assistant Head (Staff Development)

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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 2025

Independent auditors Larking Gowen LLP Chartered Accountants 1st Floor, Prospect House Rouen Road Norwich NR1 1RE 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 2025

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

The School met its main operational objectives during the 2024/25 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. In the 2024/25 academic year, there were twenty-two international pupils in the Sixth Form. They are day pupils residing with local families through a homestay programme operated by Gabbitas Education, London.

The second phase of works to 15 Upper King Street, which involved much-needed additional catering space on the lower ground floor and works to the top floor of the building including the roof terrace space, have now been completed.

The new Lower School development (replacing the temporary classroom buildings with a permanent structure on the site of the former two-storey building) was completed at the end of August 2025 and is now fully operational.

The campaign to bolster externally funded bursary provision at Norwich School continues to make excellent progress, meeting its target of funding five pupils over two years as part of the Norfolk Sixth Form Scholarship Scheme.

The ‘Culture of Learning’ whole school vision for teaching and learning was launched during the year and continues to be embedded throughout all aspects of school life, now forming one of the main strands of the strategic development plan.

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

REVIEW OF ACTIVITIES AND ACHIEVEMENTS

Indirect Benefits

The school offers indirect benefit to the wider community through the employment of 246 (2024: 241) full time equivalent staff and reduces the burden on the state sector by providing an education for 1,171 pupils (2024: 1,194).

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

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Supporting joint local initiatives

The School is 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

Arts

Sport

Other events

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Community access

Norwich School is very much part of the wider community and is happy to share its educational facilities with the community where appropriate. The following local schools and organisations have used the School’s facilities through the year:

Community service

Norwich School pupils take part in an extensive community service programme, with the aims of making a meaningful contribution to the wider community and equipping pupils for a lifetime of leadership and service. This cornerstone of the Sixth Form curriculum continues to go from strength to strength, with 149 pupils undertaking volunteering within forty-three groups, including academic mentoring, English+, the Conversation Café, school allotment and music outreach. Pupils were also able to work with one of fifteen external organisations, including Special Olympics Norfolk, Snowsports Adaptive Ski, Kixx football coaching, and Vision Norfolk.

We hosted a successful phonics training session delivered by Norfolk Reading Project and for the first time welcomed pupils from Thetford Grammar who shared this training so that they too could assist in primary schools. A previous link with Lakenham Primary was reforged, where our pupils enjoyed supporting reading with KS1. New this year, we worked with the Great Hospital making connections between tutor groups and residents playing games together. Last year we introduced WoLLoW (World of Languages and Languages of the World), with pupils going out to schools such as Magdalen Gates and West Earlham Junior School to engage pupils in language learning and this year two pupils expanded on this by planning, creating and delivering a three lesson rotation to Years 4-6.

The Lower School U3 Service Award was this year redesigned into the new Virtues Award to reflect the school’s refreshed focus on core virtues, and a vibrant exhibition was held at the Lower School in June. Pupils embraced the opportunity with real enthusiasm, transforming the hall into a hub of creativity and intellect, with posters, experiments, collections of curiosities, and engaging presentations.

Each class took a turn standing by their exhibits, while their peers moved around the room asking questions, exploring ideas, and discovering new and fascinating facts. Topics ranged from crystal growth and atomic structure to the mechanics behind video game design and coding. Other highlights included models of WWII Anderson shelters and thought-provoking investigations into graffiti as art and social commentary.

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Pupil numbers and fees

The principal source of the School’s income is school fees. The average number of pupils in the School was 1,171 (2024: 1,194).

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

Michaelmas Term : Pre-Prep: £4,810 / term (including lunches) Lower School: £6,463 / term (excluding lunches) Senior School: £7,091 / term (excluding lunches) Sixth Form International/BNO: £9,126 (including lunches)

Lent/Trinity Terms: Pre-Prep: £5,388 / term (including lunches, £4,490 plus VAT) Lower School: £7,242 / term (excluding lunches, £6,035 plus VAT) Senior School: £7,944 / term (excluding lunches, £6,620 plus VAT) Sixth Form International/BNO: £9,918 / term (excluding lunches, £8,265 plus VAT)

Academic

There was a strong set of A Level results this year. The cohort of 177 U6 candidates achieved 24% of grades at A; 52% of grades at A-A; 82% of grades at A-B; 94% of grades at A-C; and 100% at A-E. Outstanding individual performances included five candidates with four A, sixteen candidates with three A* or more, and 54 candidates with three As or more. These results have enabled positive next steps, with 80% of leavers securing their first choice onward route and over 96% achieving their first or second choice.

The GCSE results for 2025 were also pleasing. From the cohort of 132 candidates, overall percentages were 29% at grade 9, 54% at grades 9-8 (A), 74% at grades 9-7 (A-A), and 88% at grades 9-6 (A*-B), with a 98% overall pass-rate (grades 9-4). Outstanding individual performances included four candidates with eleven 9 grades or better, ten candidates with ten 9 grades or better, and thirty-five candidates with at least nine grades 8 or 9.

In Biology L6 pupils gained twelve medal-winning positions in the Intermediate Biology Olympiad in the Cambridge Biology challenge. Pupils have also benefited from access to new laboratory equipment to extend their practical work on genetics in Upper 6. The Chemistry Department had a remarkable year, with students excelling in national competitions and embracing a wide range of enrichment opportunities. In the Royal Society of Chemistry Olympiad, nineteen Sixth Formers tackled an exceptionally challenging paper, earning seven bronze, ten silver, and two gold awards. One L6 student achieved golds in both the Olympiad and the Cambridge Chemistry Challenge—a terrific achievement. The “Norwich Nucleophiles” team performed admirably at the Cambridge Chemistry Race, solving complex problems on topics like explosives and bioluminescence, and thirty-seven L6 pupils showcased their practical skills in the RSC Schools Analyst Competition, producing high-quality titrations and navigating intricate calculations. Twenty pupils also took on the Cambridge Chemistry Challenge, earning six copper, eight silver, and three gold awards for their efforts on university-level problems involving isomers, spectroscopy, and boron chemistry. There was record pupil participation in the annual Physics Olympiad competitions across a range of year groups, with all pupils achieving excellent results. In March 2025, thirty-nine U6 pupils visited Sizewell B Nuclear Power Station and learned about the practical application of physics and engineering theory to the nuclear industry.

Norwich School was proud to hold the inaugural English Symposium this year, which aimed to give GCSE pupils additional preparation for their upcoming exams and to inspire a new generation to study English after GCSE. The audience comprised schools from across the region, with nearly 300 pupils, and they were joined by Jeremy Noel-Tod, the Sunday Times poetry critic and UEA professor at the School of Literature, UEA, and Giles Foden, author of The Last King of Scotland and professor of English Literature at UEA.

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

In November, over 250 school children from ten schools across the region gathered at The Space in Norwich for the annual Norfolk Maths Symposium. Since its foundation in 2016 the Maths Symposium has welcomed approximately 2,500 pupils and some incredible speakers from Norfolk and beyond. The school was grateful to receive support from several donors including the Norwich Freemen's Charity, the Educational Foundation of Alderman John Norman, the C L Hill and Lady Hind Trusts, the John Jarrold Trust, the Paul Bassham Trust and the Norfolk Cambridge Society. This generosity enabled the symposium to be free for attendees. Pupils were treated to a lecture on probability and risk from Alison Kiddle, a fascinating explanation of the Lorenz WWII code-breaking machine and what it has in common with a Taylor Swift CD from James Grime, and Zoe Elliott’s demonstrations of moebious loops and beautiful (mathematical) smoke rings.

The Independent Project remains an enriching aspect of the Sixth Form curriculum at Norwich School. All L6 pupils complete an extended academic study or creative project in a topic or medium of their choice, which gives them the opportunity to explore their interests outside the classroom, and to build skills that will be highly valuable in higher education and beyond. As always, the breadth and variety of the projects that the pupils pursued was impressive, with topics spanning the creative arts and humanities, as well as the social and physical sciences. At the presentation evening in October twenty-four pupils delivered talks on their projects, including topics as diverse as the future of the NHS, the 1984-5 UK miners’ strike, the impact of depression on cardiac health, ocean acidification and the media portrayal of the Krays, leading to meaningful discussions and interactions between pupils and audience members.

A particular highlight of the school year was the emergence of a lively and enthusiastic group of Junior debaters. They participated in several excellent in-school debates and gained their first experience of external competition, including a strong showing in the Rotary Club’s Youth Speaks competition, winning the local heat with a discussion on the importance of creativity in education and earning a place in the district finals which took place in the impressive surroundings of County Hall’s debating chamber. Although the team faced tough opposition from older and more experienced competitors and did not advance to the final stage, their performance was a real credit to the school.

The school once again welcomed business guests from the community to our regular Business Breakfasts. Kicking off the new season was Anja Carter who asked our pupils to think about their personal and professional presentation to prospective mentors and employers. This was followed later in the term with talks on architecture from ON Jonathan Mawer and on software engineering from James Livesy, also an ON who is currently a BBC apprentice. There was a talk on finance from Rebecca Penny who came into school to tell us about her long career in finance, debunking some old-fashioned views of what an advisor looks like and what they do, and a fitting finale for the season was a visit from a rocket scientist, ON Rachel Wright, Fluid Systems Engineer at Orbex.

The new building at Upper King Street proved the perfect new home for the annual Careers & Networking Event in March. We were fortunate, as ever, to host professionals from across a wide range of industries. From creatives and designers to scientific researchers, pupils were able to meet and chat, ask questions, learn about the opportunities and qualification pathways, and arrange work experience placements and summer internships.

The Model United Nations Society is in its tenth year and allows pupils to research and understand global issues by playing the role of diplomat and building common approaches with others who may disagree. There were delegations to three conferences: Wycombe Model UN (WASAMUN), Wycombe Model Arctic Council (WYCOMAC) and Haileybury Model UN (HMUN). Throughout the year, pupils excelled, with one pupil being recognised for her outstanding work at all three conferences.

For the ninth year, Norwich School hosted the world’s only stand-alone Model Arctic Council for schools, the Norwich Model Arctic Council (NORMAC), in collaboration with Polar Aspect. This involved over fifty pupils from six schools coming together for this unique and innovative simulation of the real-world Arctic Council, dedicated to international cooperation in the Arctic, one of the most fascinating, fast-changing and important regions on the planet. It takes all decisions by consensus, so NORMAC delegates must find common solutions to controversial issues – a valuable skill to learn in today’s partisan political climate. NORMAC 9 involved three days of intense diplomacy and glittering social events, including a formal dinner at the Assembly House.

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Delegates were successful at reaching diplomatic consensus on the issue of the Last Ice Area but not on the issue of renewable-energy development in the Arctic. Even so, dealing constructively with disagreement provides valuable life lessons. Delegates benefitted from the guidance of NORMAC Director and Norwich School teacher Dr AN Speca, as well as Mr John Virgoe, NORMAC 9 Honorary Chair, career diplomat and former British High Commissioner to Brunei. NORMAC is a unique event that has won praise from real ambassadors as well as the Arctic Council itself.

The Erpingham Society is Norwich School’s academic society for pupils from U5, L6 and U6. It enables pupils from all disciplines to provide in-depth presentations on a range of subjects with intellectually stimulating themes followed by interdisciplinary discussion. Highlights from this year have included:

The Erpingham Society also produces The Longbow , a journal echoing this interdisciplinary ethos; this year’s edition included highlights and discussion points from Erpingham talks, Independent Projects and academic essays covering STEMM, Classics, Politics, Language, Art and more.

The Ethelbert Society allows pupils from L4, U4 and L5 the opportunity to speak about subjects which interest them, learn about new topics from their peers, and gain valuable skills in research, public speaking and debate, skills which can be carried forward into The Erpingham Society as pupils move up the school. This year there were weekly debates on a range of exciting and diverse topics, from the history of tea to an appraisal of Hokusai's Great Wave, the origins of writing, to Stuxnet! These presentations and research projects are distilled into the society’s annual journal, The Arrow.

The Law Society, although small in number this year, was high in quality, with a dedicated team of senior pupils engaging in thoughtful discussion and analysis. Although the national Mock Law Competition did not run this year, pupils turned their attention to exploring key areas of law and debating the moral and legal dimensions of several landmark historical cases.

Toastmasters Club provides Sixth Form pupils with an opportunity to learn about and practice public speaking skills. The meetings are run by pupils, for pupils, with different roles, requiring members to enhance their organisation and communication skills. This year, members were given guidance on aspects of public speaking such as delivering your message, responding confidently in the moment and the value of public speaking in future careers. The skills the pupils develop in this arena are not only important but also extremely powerful, and pupils were encouraged to use them responsibly in a world often divided by the spoken word.

Now in its second year, the Wellington Society is the school’s pioneering forum for geopolitical discussion, and continues its dedication to engaging U5 and Sixth Form pupils with the pressing geopolitical issues shaping our world. Building on last year’s strong foundation, the society offered members the chance to explore underreported issues and emerging global trends. This year’s meetings featured thought-provoking presentations, including The Malacca Dilemma , which explored strategic maritime challenges in Southeast Asia, and The Global Impacts of Economic Crises on Minority Groups , fostering discussion on the far-reaching effects of economic instability. This society’s commitment to fostering informed, analytical debate ensures that our pupils are better equipped to understand and interpret the complexities of a rapidly evolving world and offers them the chance to explore geopolitics as a potential pathway for further study or even a career.

Art & Design

This academic year has seen Fine Art pupils engage in a rich and varied programme of creative exploration and artistic development across all year groups. Their enthusiasm, imagination, and growing technical skill have been evident in the wide range of work produced throughout the year. In L4 pupils focused on strengthening their drawing skills through detailed still-life studies of everyday objects, food items, and packaging, learning to observe and record with greater precision and confidence. Building on their strong

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foundation in drawing from previous years, U4 pupils embarked on a creative journey exploring the theme of 'Buildings' and produced a vibrant series of dynamic and imaginative artworks. L5 students undertook an exciting 10-week project, culminating in striking abstract mixed-media collages and imaginative illustrated hybrid characters. Their creative journey was enriched by visits to the Norwich Castle Museum and a life drawing session. Other groups created comic-book inspired paintings, drawing inspiration from the work of artists such as Roy Lichtenstein and Robert Rauschenberg. Both M5 and L6 pupils drew inspiration from a range of stimulating visits, including the sculpture collection surrounding Houghton Hall, and a research trip to IWM Duxford, where sketching and study informed their personal projects. These experiences provided valuable insight and creative momentum for their ongoing work. At exam level, pupils are encouraged to work with increasing independence, and their work often reflects deeply personal themes and ideas. This year’s GCSE and U6 cohort demonstrated exceptional creativity, and their efforts were recognised in an end-of-year exhibition held in the Sixth Form studios within the Carter building.

In 2D Design, pupils continue to excel in very different approaches across the specialism achieving one of the highest percentages of top grades. Photographic pupils have made the most of the professional lighting studios to complete quality photoshoots and pupils can now develop black and white film in the department and experiment digitally with the results. Image manipulation is reaching unprecedented levels of creativity through Adobe Illustrator and other software such as Blender, whilst many others have continued to push the boundaries of the risograph printer and wooden type, as well as working with textiles, sculpture and embroidery techniques to produce installations for photography and a range of branding for t-shirts and fashion-based items for graphics. Some A level students are producing complete, fully illustrated books using the Surface studios and other forms of digital illustration. Workshops with industry professionals in film and animation have also given pupils new insights and skills. A number of ON’s have visited the school, working one to one with students interested in moving into the creative industries. M5 and L6 both held interim public exhibitions, whilst U5 and U6 held their major end-of-year show as part of the Gather25 festival.

3D Design welcomed their largest-ever cohorts in both GCSE and A-level, with four GCSE sets and three A- level sets. Pupils have been pushing creative boundaries across a wide range of mediums, from sculptural lighting and architectural models to innovative fashion, intricate silversmithing, furniture, and beyond. U6 pupils earned places to study Architecture, Product Design, Fashion, and other 3D design-related subjects at prestigious institutions, with many receiving unconditional offers, a testament to their talent, ambition, and hard work. This year’s projects were wonderfully adventurous and varied and spoke volumes about the breadth and depth of creativity our pupils have brought to life, showcasing everything from constructed textiles and wearable art to engineered solutions and complex sculptural forms. Internal showcases were staged for U5, L6 and U6 pupils, with the latter forming part of Gather25. Pupils gained first-hand exposure to world-class creative work through visits to, amongst others, the V&A and Somerset House’s Collect exhibition. Our reputation for excellence continues to resonate far beyond Norwich. Staff have hosted numerous visiting heads of department and advised schools both locally and nationally on enhancing creative provision. At a time when many schools are seeing creative and practical subjects decline, this department stands as a proud exception—bucking the trend and giving pupils the creative, practical, innovative, and visual communication skills the future workforce needs.

Co-curricular activities

Norwich School pupils have been involved in a wide range of co-curricular activities, which play an extensive part in delivering a truly rounded education.

Music

As ever, musical pursuits were plentiful throughout the year and of a very high standard. In the summer the Norwich School Choristers joined a Cathedral Choir tour of Paris and Normandy. Sixteen pupils from both the Lower and Senior School sang in some of the most beautiful churches and cathedrals in France. One highlight was the choir's appearances at the British Normandy Memorial in Ver-sur-Mer, where their performances of music commemorated and remembered the 22,442 servicemen and women who fell during the Battle of Normandy in 1944.

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The Chapel Choir had a busy Michaelmas term singing at the Trafalgar and Remembrance Services and the Senior School Carol Service at the end of term. A highpoint of this term is always the trip to London in October to sing at the Service of Thanksgiving for the Dyers’ Company. The annual Michaelmas Concert showcased a wide variety of groups and styles, displaying the capabilities of the pupils and their music group leaders and provided a wonderful opportunity for performers of all year groups to join with family, staff and guests to put on a stellar show.

Jazz Night 2025 took centre stage in March at Epic Studios. A true highlight of the school calendar, the evening showcased the incredible talent of our pupil musicians, with outstanding vocal performances and superb instrumentals from the Senior Jazz Band.

With Norwich’s St John the Baptist Catholic Cathedral as its magnificent backdrop, the Norwich School Choral Society delighted a substantial and appreciative audience at its annual concert in March. This choral event is a cultural highlight in Norwich’s flourishing creative arts scene and is unique in fostering some remarkable collaborations. The Norwich School Choral Society (the school’s adult choir made up of alumni, friends, former parents and staff) performed together with the school’s multiple pupil choirs, creating a combined chorus in excess of 130 and spanning ages from thirteen to the over eighties. Similarly, pupil instrumentalists were playing alongside the hugely experienced professional musicians of the Norwich Baroque ensemble, bringing together an orchestra of over thirty talented musicians, complete with rousing timpani. All our young musicians acquitted themselves with great aplomb on the public stage, demonstrating the breadth and depth of musical talent within the school’s music department.

Musical Theatre Nights returned to the Blake Studio early in 2025, and once again did not disappoint. There was something for everyone with performances from musicals old and new, niche and well known.

The Lower School continued their series of informal concerts for different year groups throughout the year, whilst the Chamber Choir had a busy year singing carols at Sowerbys open office Christmas event, for members of the charity, English+ in the Cathedral Hostry and at Abbeyfields care home as well as performing at the Priscilla Bacon Reflect & Remember service in the Cathedral. The Michaelmas Concert at the Kings Centre was a spectacular evening filled with excitement, fun, and vibrant energy, showcasing the immense talent of the Lower School pupils.

The Chamber Choir and Infant Choirs also joined several other schools for the Norfolk County Music Festival which is celebrating its 100 years this year. L1 and U1 took to the stage at the Blake Studio to perform their rendition of the magical and enchanting musical production Wiz Wham Alakazam to parents, grandparents and residents of The Great Hospital. A packed audience gathered at the Kings Centre again to enjoy the Lower School Summer Concert, an evening filled with smiles, joy, and an impressive variety of musical performances showcasing all the school’s choirs and ensembles.

The Infant Choirs, School Choir, and Chamber Choir came together in the summer to delight Abbeyfields residents again with a special summer performance, a true celebration of music and community, with children and residents sharing in the joy of live performance.

Performing Arts

The School offers a wide range of participation opportunities for all pupils in various forms of performing arts.

Gather25

Gather25, Norwich School’s vibrant three-week celebration of the creative and performing arts, was once again a resounding success, offering a rich and varied programme of inspiring events. Highlights ranged from a highenergy and unforgettable Bandfest to a dazzling student-led production of School of Rock , a rousing Summer Concert at St Peter Mancroft Church, a witty reimagining of Julius Caesar , and a moving Choral Vigil. The breadth of pupil talent was further showcased in the annual Art and Design Exhibition, and again at the Charity Fashion Show, where originality and flair from across Art, Design, Music, and Dance lit up the stage. The festival reached a spectacular finale with Gala Night, as more than 250 pupils, from Lower School to U6, took

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to the outdoor stage in a stunning display of music, dance, and theatre. With an audience of over 900, the evening stood as a powerful reminder of the creativity, imagination, and exceptional talent that define the Norwich School community - a celebration of talent, creativity and community spirit.

Drama and Dance

The Michaelmas term got off to a flying start for drama with L5 pupils creating bespoke Theatre in Education work for a younger audience, tackling themes of online bullying, road safety and friendships. December saw M5 and L6 students present scripted extracts for the Winter Drama event and included in the repertoire this year were How to disappear completely and never be found , extracts from Girls Like That , Blood Brothers , Private Peaceful and The Domino Effect . This also allowed U6 the chance to try out their examination monologues with a live audience. A talented company of musicians, actors and stage crew brought the beloved story of Grease to the stage for the Senior School musical, with five sold out performances which had audience members smiling, cheering, and even singing along.

During the Lent term, L4 took to the boards with class performances of Charlie and the Chocolate Factory , Ernie’s Incredible Illucinations , The Burston School Strike and I’m a God Get Me Out of Here over two nights to a busy Blake Studio audience. The examination year groups were also in performance with productions such as Duncan Macmillan’s Every Brilliant Thing and GCSE performances from a range of genres and styles. At the end of term, a brilliant cast of pupils from U5–U6 brought Laura Wade’s play The Watsons to the Norwich Puppet Theatre stage. The cast delivered Wade’s witty dialogue with confidence, navigating the twists and turns of the plot with enthusiasm.

The first run of the independent project performances took place in the Trinity term, with varied and eclectic work that allowed the L6 pupils to bring out the best in their company including a superb and hilarious production of John Godber’s Teechers and a stunning piece of dance theatre Voices from Mariupol , capturing the spirit of a community devastated by war but determined to rise again. L5 presented their performance company pieces: Bright Young Things , Jump for Your Life , A Monster Calls and Confusions .

Gather25 included the Scholars’ Play , Dennis Kelly’s hard-hitting DNA , along with outdoor theatre and a creative conceptual interpretation of Shakespeare’s Julius Ceasar , and the Juniors exhilarating stage adaptation of School of Rock , a pupil led IP project.

The opportunities for performance whether onstage, as a director or as a creator, remain a beacon of excellence with pupils continuing to have success in gaining places at prestigious conservatoires such as Birmingham, Bird College, Italia Conti and Stella Mann for onward professional training.

Dance continues to thrive as a highly popular academic and co-curricular activity, engaging a large number of pupils through lessons, clubs, sports options, and participation in shows and competitions. With a range of weekly clubs regularly involving seventy pupils, the enthusiasm for this art form is unmistakable. From the Junior and Senior Dance Companies, who excelled in top five positions once again at the Great Big Dance Off finals, to Impulse Fourth Form Dance and Boys Dance, there is something for everybody to get involved with. Pupils showcased their talent in a variety of performances, including the new Choreography Competition, where pupils demonstrated their creative flair in front of a professional judging panel.

Staples of the dance calendar, including the Senior Dance Festival, appearances at the Royal Norfolk Show, and significant and impressive contributions at both the Norwich School Charity Fashion Show and the sell-out Gala Night 2025 continued to represent the wealth of performance talent at the school. Academic dance took further steps in becoming an established and valued part of the curriculum, with Fourth Form pupils adding dance to their PE rotation, and GCSE pupils pushing the standards to new heights with their exceptional performance and choreographic work. The Sixth Form Independent Project was a focal point for dance this year, with a range of projects from competition pieces and dance films, through to a fully realised dance show further platforming pupils’ talent and dedication to the specialism.

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The Lower School again showcased what a wide variety of talented performers there are at all levels throughout the school. The Junior Play was Treasure Island , a spirited re-telling of the classic story that took audiences on a journey filled with comedy and suspense. Lower School dancers also had the opportunity to take part in a workshop with the Northern Ballet, focusing on enhancing ballet technique and skills. The drama club pupils performed a creative adaptation of Grimm’s Fairy Tales, captivating the audience with their storytelling skills and dramatic flair. The Second Form’s production of Jack and the Beanstalk was a wonderfully entertaining show. Audiences were treated to not one, but two fun-filled evenings of laughter, charm, and just the right amount of chaos in the best possible way. The Lower School Dance Company achieved an impressive fourth place in the national final of the Great Big Dance Off, a prestigious national dance competition. U3 pupils delivered a truly magical performance of Mary Poppins Jr, captivating the audience with their brilliant acting, singing, and dancing, and L3 performed a fantastic and unique exploration of the English language through their performances of A Midsummer Night’s Dream , Macbeth , and Romeo and Juliet .

Sport

A full programme of fixtures across a wide range of sports took place throughout the year.

The school celebrated the “Double-Triple" after winning the U14, U16 and U18 County Championships in both netball and rugby. In rugby, the U16As had an exceptional year, finishing unbeaten with seven wins and two draws, and claiming the County Cup without conceding a single point. The 1st VII netball team are one of the strongest the school has ever had. As an U19 squad, they won 17 of 21 matches, finishing third at the England Netball Regional Finals and qualifying as County Champions. They then went unbeaten in their regular season, with thirteen wins from thirteen matches.

The Lent Term was another exceptional one for boys’ hockey at Norwich School, with over 270 pupils proudly representing the school across the Junior, Inters, and Senior programmes. In the England Hockey Tier 1 Championships, the 1st XI team went unbeaten in the group stage, recording five wins and two draws against top opposition. Their impressive run came to an end in the quarter finals, where they were narrowly defeated by eventual champions Whitgift. In the Independent Schools Hockey Cup, the side again reached the quarter finals, losing only after a tense penalty shootout. Over the course of seventeen matches, the 1st XI achieved eleven wins, four draws, and just two losses while scoring an impressive fifty-nine goals. In girls’ hockey, the 1st XI enjoyed an outstanding season, reaching the third round of both the Independent Schools Cup and England Hockey Tier 2 Cup. Across twenty-two matches, they secured thirteen wins and scored forty-six goals.

In cricket, the 2025 season was the most successful yet for the girls’ 1st XI, with seven wins from nine matches, and the boys’ 1st XI delivered standout wins against Gresham’s (home and away), The Perse, and Framlingham.

In rowing the 1st VIII became the first Norwich School crew ever to enter both Henley Women’s Regatta and Henley Royal Regatta. With seven of the crew still eligible for Junior competition for two more years, this experience provides a strong platform for future success. Four pupils competed in Pairs at the GB J16 Trials, finishing fourth and fifth in the A Final and narrowly missing selection - an impressive achievement that sets them up well for next year. Another pupil successfully trialed for the GB U19 Eight in early summer and went on to win gold at the World Championships, a remarkable accomplishment and a proud moment for Norwich School Boat Club.

Beyond the main sports, there were some notable achievements in a range of other activities. A L5 pupil became England Champion in her first national outdoor multi-event athletics competition at the Alexander Stadium in Birmingham. A L6 pupil represented England U18s rugby in the 2025 U18 International Series in South Africa this summer and in skiing, the boys team retained their title as national champions for a second year.

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Beyond the Classroom

Norwich School continues to be committed to its Equity, Diversity and Inclusion (EDI) journey. Pupil-led societies have thrived, celebrating a diverse range of social and cultural identities. We have worked alongside organisations such as the LGBT+ project and the African Caribbean Education Network to enrich every pupil’s experience of school life. We have also continued to host the Norfolk PSHE and EDI forum, which welcomed a range of Norfolk schools to hear from Mental Health Educator Satveer Nijjar, to explore how we can better support and teach about mental health in schools.

The Norwich School Feminist Society (FemSoc) has had an impactful year, once again arranging the Reclaim the Night Vigil, held in the Cathedral Close. This year the event featured a march through the Close, emphasising the issue of safety for women walking home at night. Pupils created powerful placards, and moving readings and poetry were shared by pupils and teachers alike. The Feminist Society also delivered an International Women’s Day Quiz to the whole school on Microsoft Teams, engaging the wider school body in discussions surrounding feminism and women’s achievements. More generally the group continues to provide the opportunity for pupils across the school to connect and discuss issues related to equality and women’s rights.

The Neurodiversity Group continues to foster a sense of community and understanding, celebrating neurodivergent identities. Through school-wide awareness initiatives and discussions, the group promotes a culture of acceptance. They played an active role in the One Norwich School Day Fair, running a stall that celebrated the unique strengths of neurodivergence. The group also helped to celebrate Neurodiversity Celebration Week, developing a video that shares the experiences of and celebrates neurodivergent pupils and staff.

One Norwich School Day in October was a celebration of community spirit. The week included a whole school Just Dance Party, a Black History Month Scavenger hunt, five-a-side football and the annual One Norwich School Day Fair. This featured stalls from the Pride Group, Feminist Society, Neurodiversity Group, REACH Society, Earth Watch, BSL Club, Amnesty Group and the pastoral prefects, with live music from pupils helping to bring a celebratory, community focused energy to the event. Additionally, tutor time focused on ‘The Power of a Name,’ with pupils completing a phonetic name pronunciation exercise. It was a week filled with community kindness and activities aimed at promoting mental wellbeing, diversity and inclusion.

The Pride Group at Norwich School provides an important, inclusive space for LGBTQ+ pupils and allies. Through meaningful discussions and advocacy, the group proudly promotes LGBTQ+ visibility and support. Their participation in One Norwich School Day encouraged pupils to show visible allyship to the LGBTQ+ community by creating friendship bracelets. Additionally, the group played a key role in developing resources for Pride Month and LGBTQ+ History Month, hosting Heartstopper watch parties and developing an LGBTQ+ History month trail across the school.

The Norwich School REACH (Race, Ethnicity and Cultural Heritage) society had a busy year developing a Norwich School World Cookbook and working with pastoral staff to improve reporting mechanisms for pupils. The group consulted on current mechanisms and worked to develop a more user-friendly approach to anonymous reporting mechanisms such as Whisper. The World Cookbook has taken submissions from across both the Senior and Lower School, showcasing the rich cultural diversity of Norwich School through food. The book is currently being developed as a digital cookbook, and there are hopes to create a physical copy available to purchase next academic year.

It has been another bumper year for Duke of Edinburgh at Norwich School with 216 pupils taking part in the programme in 2024/25: forty-two at Gold, sixty-seven at Silver and 107 at Bronze. Whether pupils just tackle the Bronze award or go right through to take on Gold, they know the benefits the awards can bring. Most universities recognise the award's high standard and what the participant 'brings to the table' in terms of personal growth, teamwork and planning. This is especially true of Gold award recipients, who may still achieve their top choice university despite a one-grade drop in an A-level subject on results day.

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The 2024/25 academic year was again packed with trips and opportunities for pupils to expand their studies beyond the classroom, with a plethora of domestic visits to, including Go Ape, Bramley Lakes, Sizewell B Power Station, Binham Priory, Holkham Hall, the Sainsbury Centre, Norwich City Football club and Southwold. Further afield pupils visited China, Iceland, Hamburg, Rouen, Berlin, Madrid, and the battlefields of France and Belgium. The Lower School also had a full programme of trips and visits, including Kentwell Hall, the Bridewell Museum, Bewilderwood, Norwich Castle and ventured further afield to the Peak District, Leicestershire, York, London, and France.

The Charities Committee at Norwich School is made up of volunteers from L6, who lead on ideas, events, and initiatives for the whole school to get involved in supporting local, national, and international charities. This year they held an intergenerational quiz with charity Friend in Deed, a collection for children's swimwear on behalf of a swimming club in Burkina Faso, a collection for Christmas gifts for St Martins Housing Trust service users, collected Easter Eggs and toothbrushes and toothpaste for Schools in West Earlham, helped with fundraising for NNUH's Youth Forum, and held Home Clothes Days for Brave Futures, Cancer Research Uk and Street Child. The newly named Charities Dinner raised a large sum of money for Cancer Research UK and Charities Committee members helped with the Discover your Ability Day, Intergenerational Sports Day and Fashion Show in aid of Street Child.

The Lower School hosted their first Car Boot Sale in June, raising an impressive £500 for Young Minds, the UK charity supporting children’s mental health.

Details of bursary and scholarship awards

Bursaries

This year the value of means-tested bursaries totalled £1,040,199 and represented 4.5% of the school’s net fees. Assistance was provided to 71 pupils. The school funds this assistance 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 the Bowling Family, Mark and Katie Loveday, the Record Trust, Roger Robinson ON, Norwich Cathedral, the Choir Schools Association, the Charles Peel Charitable Trust, the Worshipful Company of Dyers, the Friends of Norwich School, the French Huguenot Trust, the Morse-Boycott Trust, Old Norvicensians, the Rank Foundation, Jon Wait ON, and the Staff Bursary Fund.

Hardship support

Emergency hardship support totalling £18,110 was provided during the 2024/25 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. Of the no pupils, none also qualified for means-tested bursary support and are included in the figures relating to bursary awards.

Norwich Cathedral also offers scholarship awards to nineteen boy choristers who attend the school. For those who joined the choristers prior to September 2020, this is 50% of School fees (three pupils in the Senior School). For those who joined the choristers prior between September 2020 and September 2024, this is set at a flat rate of £8,400 for those in the Senior School (three pupils) and £7,700 for those in the Lower School (eight pupils). For those who joined the choristers from September 2024 onwards, this is 30% (five pupils in the Lower School).

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

FUTURE PLANS

In pursuance of its strategic objectives, the major tactical and operational project areas in the 2025-26 academic year will be to:

Academic Progress

Extra-Curricular

Pastoral Care, Pupil Voice, and Leadership

Staff

Finances, site, and infrastructure

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Partnerships

Alumni and other stakeholders

Public benefit

The Council of Management has given due regard to the Charity's Commission's guidance on public benefit and in furtherance of these aims, the Council, as the Charity trustees, have complied with the duty in s.l7 of the Charities Act 2011 to have due regard to the Charity Commission's published general and relevant sub-sector guidance concerning the operation of the public benefit requirement under that Act.

Norwich School provides a significant benefit to the public by providing a first-class education, independent of the state system, for 1,171 pupils (2024: 1,194). Indirectly, the school provides additional public benefit through the employment of 246 (2024: 241) full time equivalent staff, supporting the local economy and wider supply chains, and through the dedicated stewardship of an historic estate located in and around the Cathedral Close.

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The school strives to ensure that measures of public benefit are appropriate, and that significant sections of the public are not excluded from the opportunity to benefit from the education and facilities offered due to the need to pay a fee. In addition to significant provision of bursaries and other forms of means-tested financial support, the school provides a wide range of opportunities for community benefit and facilities, and events are often open to all.

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, community 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 (Independent Schools Inspectorate) 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 £26,693k (2024: £26,723k) and after incurring expenditure of £26,081k (2024: £25,686k), net income before other recognised gains and losses amounted to £577k (2024: £1,169k). This is stated after net losses on investments of £35k (2024: net gains of £132k). After actuarial losses on the defined benefit pension scheme of £16k (2024: actuarial losses of £111k), the net increase in funds amounted to £561k (2024: £1,058k).

Principal funding sources

The principal source of the School's income comes from school fees. The average number of pupils in the School was 1,171 (2024: 1,194).

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 2025, additions amounted to £3,552k (2024: £3,420k). The most significant investments included the completion of the significant projects at Upper King Street and the Lower School.

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 22 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.

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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

Free reserves of the School are defined as those unrestricted funds, excluding designated funds, which are freely expendable. At present the School's free reserves, being group net assets excluding fixed assets and investment properties within the general funds, amount to free reserves of £441k (2024: £43k).

As stated in note 21, the designated fund relating to the School's future capital projects has been released in full to General Funds now that the major capital projects at Upper King Street and the Lower School are complete.

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, 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:

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 Trustees are responsible for the management of the risks faced by the School. Risks are identified and assessed, and controls established throughout the year. A formal Business Risk Model (risk register) is in place and is reviewed and updated on a regular basis by the Senior Leadership Team, various Committees (including the Executive Committee) and the Council of Management.

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Ongoing risk management

The principal risks and uncertainties identified in the Trust’s Business Risk Model include:

Key controls used by the charity include:

Through the Business risk management processes established for the Trust, the Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

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 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 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.

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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 A Braddock and The Reverend 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. The School made purchases from the company in the year, and at the year end, some amounts were owed to the company in relation to them.

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. The School also had sales to Mills and Reeve LLP. At year end some amounts were due to the company, and some amounts were owed to the School.

Mrs A Sarkar Roy, member of the Council of Management, is Treasurer and a Non-Executive Trustee of 8th Norwich Sea Scouts. The School made purchases from and sales to this charity during the year, and at the year end, some amounts were owed to the charity, and some amounts were owed to the School.

Mr N Q Back, member of the Council of Management, is the Chair of the Norfolk Club, which the School pays to make use of its gym facilities.

Mr D Talbot, member of the Council of Management, is a Trustee of the Norfolk Broads Yacht Club. The School made purchases from the Yacht Club during the year.

Dr A C Wood, member of the Council of Management, is a Council Member of the University of East Anglia. The School made purchases from UEA during the year.

Very Reverend Dr Andrew Braddock, member of the Council of Management, is the Vice-Chair of the Friends of Norwich Cathedral. The School made purchases from the Friends of Norwich Cathedral during the year.

Four members of the Council of Management, Mr N Q Back, Mr J M Hunter, The Reverend Canon A Platten and Dr A C Wood, 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.

Except where shown in note 9 and note 20 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 is a member of the Headmasters’ and Mistresses' conference (HMC), 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 Bursar is a member of the Independent Schools Bursars Association (ISBA) and various professional bodies. The Head of the Lower School is a member of the Independent Association of Prep Schools (IAPS). IAPS is the professional association for Headmasters’ and Mistresses' of the leading independent prep schools in the UK and worldwide.

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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:

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, with the exception of the following members who resigned during the year: Mr J M D Schofield (resigned 2 October 2024), Dr D F Wood (resigned 21 March 2025), and Dr S C Bamber, Mr H C Jourdain and Professor K H Yeoman (all of whom resigned on 31 August 2025)

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:

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

REPORT OF THE TRUSTEE (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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:

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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 2025 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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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

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 are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly 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 determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustee are 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 intend to liquidate the Group or the parent Charity or to cease operations, or have no realistic alternative but to do so.

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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:

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.

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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 Chartered Accountants Statutory Auditors 1st Floor, Prospect House Rouen Road Norwich NR1 1RE

N.B. The date of signing should be entered in 'ACCOUNTS COMPLETION' section

Date: 18 June 2026

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

Page 27

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

Note
Income and
endowments from:
Donations and legacies
4
Charitable activities
5
Investments
6
Total income and
endowments
Expenditure on:
Charitable activities
7
Total expenditure
Net (losses)/gains on
investments
Net movement in
funds before other
recognised
gains/(losses)
Other recognised
losses:
Actuarial losses on
defined benefit pension
schemes
18
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Unrestricted
funds
2025
£000
-
25,379
419
25,798
25,531
25,531
(6)
261
(16)
245
17,337
245
17,582		 Restricted
funds
2025
£000
863
-
32
895
550
550
(29)
316
-
316
2,842
316
3,158		 Endowment
funds
2025
£000
-
-
-
-
-
-
-
-
-
-
3,273
-
3,273		 Total
funds
2025
£000
863
25,379
451
26,693
26,081
26,081
(35)
577
(16)
561
23,452
561
24,013		 Total
funds
2024
£000
780
25,357
586
26,723
25,686
25,686
132
1,169
(111)
1,058
22,394
1,058
23,452

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

The notes on pages 34 to 63 form part of these financial statements.

Page 28

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2025

Note
Fixed assets
Tangible assets
10
Investments
12
Investment property
11
Current assets
Stocks
Debtors
13
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
15
Total net assets		 33
1,415
8,234
9,682
(5,702)		 2025
£000
18,801
1,860
730
21,391
3,980
25,371
(1,358)
24,013		 32
1,261
11,542
12,835
(7,009)		 2024
£000
17,004
1,881
730
19,615
5,826
25,441
(1,989)
23,452

Page 29

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025

Note
Charity funds
Endowment funds
21
Restricted funds
21
Unrestricted funds
21
Total funds		 2025
£000
3,273
3,158
17,582
24,013		 2024
£000
3,273
2,842
17,337
23,452

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

................................................ ................................................ Dr A C Wood Dr S C Bamber Chairman Vice Chairman

Date: Complete 'ACCOUNTS COMPLETION' section

The notes on pages 34 to 63 form part of these financial statements.

Page 30

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CHARITY BALANCE SHEET AS AT 31 AUGUST 2025

Note
Fixed assets
Tangible assets
10
Investments
12
Investment property
11
Current assets
Stocks
Debtors
13
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
15
Total net assets		 33
1,415
8,234
9,682
(5,702)		 2025
£000
18,801
1,860
730
21,391
3,980
25,371
(1,358)
24,013		 32
1,261
11,542
12,835
(7,009)		 2024
£000
17,004
1,881
730
19,615
5,826
25,441
(1,989)
23,452

Page 31

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

CHARITY BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025

Note
Charity funds
Endowment funds
21
Restricted funds
21
Unrestricted funds
Designated funds
21
-
General funds
21
17,582
Total unrestricted funds
21
Total funds		 2025
£000
3,273
3,158
1,950
15,387
17,582
24,013		 2024
£000
3,273
2,842
17,337
23,452

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

................................................ ................................................ Dr A C Wood Dr S C Bamber Chairman Vice Chairman

Date: Complete 'ACCOUNTS COMPLETION' section

The notes on pages 34 to 63 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 2025

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
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
New/(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		 2025
£000
(532)
(3,080)
419
(414)
326
47
62
(2,640)
(166)
(41)
71
(136)
(3,308)
11,542
8,234		 2024
£000
4,869
(3,420)
219
(221)
467
44
62
(2,849)
(156)
(53)
(43)
(252)
1,768
9,774
11,542

The notes on pages 34 to 63 form part of these financial statements

Page 33

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

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

Management's going concern assessment takes into full consideration key data sets, including latest pupil numbers, projected employment costs, freehold, leasehold, and maintenance requirements for the next 12 months and beyond, and known capital commitments; allied to the latest 5-year cashflow models and other key performance indicators.

As a result of the significance of the combined impact of national minimum wage increases, increases in employer’s national insurance, loss of charitable business rates relief, continuing increase in TPS contribution rates and the imposition of VAT on independent school fees, alongside general hardening economic factors, the sector is under significant pressure which is resulting in significant numbers of closures, mergers and other combinations focused on cost sharing or reduction.

The application of VAT on school fees has led to stretched family affordability, leading to pupils leaving independent education at natural departure points, or families choosing not to start their journey in independent education as early, if at all. This has caused reduced pupil numbers across the sector with further falls expected over the next few years.

Teachers’ Pension Scheme costs are a significant cost variable that schools have no control over if enrolled. The school offers an alternative pension scheme to teachers and through negotiation the school has limited it's exposure to this volatility for those who choose to remain in TPS. There are suggestions of a possible reduction in employer contribution rate in the future but this comes after multiple significant increases to the employer contribution rate. As such TPS continues to pose a volatile risk to costs and the school continues to monitor the situation closely to determine if further

Page 34

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

2.2 Going concern (continued)

action is required.

Considering these factors, particularly the lower starting roll, despite having already implemented considerable cost reduction measures during the period, the school is forecasting an unrestricted year end deficit of £476k. The restricted year end deficit is forecast at £120k.

In the context of such a risk environment, the School is carefully focusing on mitigation options to offset the inevitable pressures on future cashflow.

Work continues to find further savings to those already made in both the current year and those committed for 2025-26, including implementation of further recommendations from both the Lyon and Fenton Reports. However, the School must still ensure the value proposition remains and we continue to provide the highest quality education possible.

The School undertook a voluntary redundancy (VR) programme during the year, and a further VR process in 2025-26. The outcome of this second exercise is substantively complete, the subsequent restructuring work proving quite effective. In combination with developing pupil data during the first half of the year, the school has explored a minimal compulsory redundancy process via a formal consultation process, the results of which are being concluded before the end of the 2025-26 academic year.

In terms of CAP, with the successful completion of both current major projects; 15 Upper King Street (M339) and the Lower School Development (M061) during the year, the school has no plans for major projects, and the intent is to keep both REV and CAP expenditure to essential only items with appropriate contingencies. Indicatively, the 2025/26 CAP budget is c£445k, focused in three core areas: estates, transport, and contingent funds; down from a five-year average of £1.133m (excluding M061/M339).

The position for the current budget cycle is therefore threefold: reluctant acceptance of deficit surplus position for the current year whilst looking to find further efficiencies and onward savings, adjusted REV/CAP budgets and a renewed vigour in additional revenue streams.

Within the Governance model, additional oversight is to be focused by a revitalized structure to include new or enhanced committees – the former being the a new Audit and Oversight Committee, the latter a Development and Enterprise Committee (with a focus on commercial revenue generation) and a Finance and Property Committee to focus on the business model and estate management.

Despite this continuation of challenging economic and political times, with good projected income allied to sensible budgeting, 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) and an appropriate reserves policy, the School feels able to address the continuing economic uncertainties whilst delivering the core offering and creating demand for the product.

Since the balance sheet date there have been no subsequent events to give management doubts that the school is not a going concern, and considering the above, Norwich School has a reasonable expectation that the charity has no material uncertainties and adequate resources to continue in operational existence for the foreseeable future.

Page 35

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

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.

Income from donations, grants, gifts, and specific fund raising events is included in full in the Statement of Financial Activities when receivable.

For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasions legacies will be notified to the Charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from property and other non-voluntary services is included in the year in which the conditions for receipt have been met.

Income from investments is included when receivable. Income from investments held as part of the permanent endowment fund is unrestricted. Income from investments held as part of the restricted Scholarship Fund is restricted to providing prizes, scholarships and financial assistance as part of the Scholarship Fund.

Tuition fees represent charges for tuition in the academic year 2024/2025 and are stated gross of fee remissions. From spring term 2025 onwards, VAT has been applied on invoices for tuition fees. However, as the school is now VAT registered, tuition fees are shown in the financial statements net of VAT.

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 36

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

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 - Over the expected useful life of the asset
Plant, equipment, fixtures and - 2% - 25%
fittings
Assets in the course of - Not depreciated
construction

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 37

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

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 Trust recognises a defined benefit pension plan surplus as an asset only to the extent that it is able to recover the surplus either through reduced contributions in the future or through refunds from the plan.

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.

Page 38

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

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.

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 and provisions

Liabilities 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.

Page 39

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

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.

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 18, will impact the carrying amount of the pension liability. Furthermore, a roll forward approach which projects results from the latest full actuarial valuation has been used by the actuary in valuing the pensions liability at the year end.

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 11.

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

Page 40

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

3. Critical accounting estimates and areas of judgment (continued)

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 fixed assets at the reporting date are disclosed in note 10.

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 13.

4. Income from donations and legacies

Donations and legacies
Donations and legacies		 Restricted
funds
2025
£000
863
Restricted
funds
2024
£000
780		 Total
funds
2025
£000
863
Total
funds
2024
£000
780

5. Income from charitable activities

Unrestricted
funds
2025
£000
Tuition fees
23,181
Other educational income
976
Other ancillary income
209
School meals
1,013
Total 2025
25,379		 Total
funds
2025
£000
23,181
976
209
1,013
25,379

Page 41

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

5. Income from charitable activities (continued)

Tuition fees
Other educational income
Other ancillary income
School meals
Total 2024		 Unrestricted
funds
2024
£000
23,223
956
186
992
25,357		 Total
funds
2024
£000
23,223
956
186
992
25,357

6. Investment income

Unrestricted
funds
2025
£000
Rental income
62
Income from investments
15
Deposit account interest and interest from other debtors
326
Pension income
16
Total 2025
419
Unrestricted
funds
2024
£000
Rental income
62
Income from investments
14
Deposit account interest and interest from other debtors
467
Pension income
13
Total 2024
556		 Restricted
funds
2025
£000
-
32
-
-
32
Restricted
funds
2024
£000
-
30
-
-
30		 Total
funds
2025
£000
62
47
326
16
451
Total
funds
2024
£000
62
44
467
13
586

Page 42

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

7. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2025
£000
Teaching and education
15,115
Welfare
1,597
Establishment
4,463
Support costs
2,464
Finance costs
119
Governance costs
86
Prizes, awards, scholarships and financial assistance
1,703
VAT recovered
(16)
Total 2025
25,531
Unrestricted
funds
2024
£000
Teaching and education
14,339
Welfare
1,579
Establishment
4,540
Support costs
2,621
Finance costs
200
Governance costs (see below)
105
Prizes, awards, scholarships and financial assistance
1,743
Total 2024
25,127		 Restricted
funds
2025
£000
-
-
-
-
-
-
550
-
550
Restricted
funds
2024
£000
-
-
-
-
-
-
559
559		 Total
2025
£000
15,115
1,597
4,463
2,464
119
86
2,253
(16)
26,081
Total
2024
£000
14,339
1,579
4,540
2,621
200
105
2,302
25,686

Page 43

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

7. Analysis of expenditure on charitable activities (continued)

Summary by expenditure type

Teaching and education
Welfare
Establishment
Support costs
Finance costs
Governance costs (see below)
Prizes, awards, scholarships and financial
assistance
VAT recovered
Total 2025
Teaching and education
Welfare
Establishment
Support costs
Finance costs
Governance costs (see below)
Prizes, awards, scholarships and financial
assistance
Total 2024		 Staff costs
2025
£000
12,479
213
1,095
1,222
-
-
-
-
15,009
Staff costs
2024
£000
11,399
205
773
1,058
-
-
-
13,435		 Depreciation
2025
£000
547
-
732
-
-
-
-
-
1,279
Depreciation
2024
£000
440
-
605
-
-
-
-
1,045		 Other costs
2025
£000
2,089
1,384
2,636
1,242
119
86
2,253
(16)
9,793
Other costs
2024
£000
2,500
1,374
3,162
1,563
200
105
2,302
11,206		 Total
2025
£000
15,115
1,597
4,463
2,464
119
86
2,253
(16)
26,081
Total
2024
£000
14,339
1,579
4,540
2,621
200
105
2,302
25,686

Page 44

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Analysis of expenditure on charitable activities (continued)

Analysis of governance costs:
Costs relating to governors
Trustee and Professional indemnity insurance
Audit, accountancy and legal fees		 2025
£000
3
18
65
86		 2024
£000
6
18
81
105

Costs relating to governors includes training, venue hire, and any reimbursement to members of the Council of Management for their out of pocket travel expenses. Note 9 provides a specific disclosure of reimbursed expenses.

8. Auditors' remuneration

2025 2024
£000 £000
Fees payable to the Charity's auditor and its associates for the audit of the
Charity's annual accounts 20 19
Fees payable to the Charity's auditor and its associates in respect of:
Teachers' Pension audit 1 1
Taxation advisory services 9 4

9. Staff costs

Wages and salaries
Social security costs
Pension costs		 Group
2025
£000
11,631
1,300
2,078
15,009		 Group
2024
£000
10,606
1,080
1,749
13,435		 Charity
2025
£000
11,631
1,300
2,078
15,009		 Charity
2024
£000
10,606
1,080
1,749
13,435

During the year, the Charity made termination payments totalling £347,000 (2024: £16,000) under settlement agreement terms. At the balance sheet date, there were no outstanding commitments for termination payments.

Page 45

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

9. Staff costs (continued)

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

Teaching staff
Support staff		 Group
2025
No.
149
192
341		 Group
2024
No.
150
186
336		 Charity
2025
No.
149
192
341		 Charity
2024
No.
150
186
336

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

Group Group
2025 2024
No. No.
In the band £60,001 - £70,000 9 4
In the band £70,001 - £80,000 5 2
In the band £80,001 - £90,000 2 3
In the band £100,001 - £110,000 1 1
In the band £200,001 - £210,000 1 1

No member of the Council of Management received any remuneration from the trustee company or School.

One member of the Council of Management was reimbursed for out-of-pocket expenditure in the year of £68 (2024: None) .

Key management remuneration in the year totalled £1,119k (2024: £1,031k) in respect of the Head, 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 2025

10. Tangible fixed assets

Group and Charity

Cost or valuation
At 1 September 2024
Additions
Disposals
Transfers between
classes
Other adjustments
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
On disposals
At 31 August 2025
Net book value*
At 31 August 2025
At 31 August 2024		 Freehold
property
£000
7,019
-
-
-
(2)
7,017
1,172
123
-
1,295
5,722
5,847		 Long-term
leasehold
property
£000
5,455
-
-
3,065
(8)
8,512
838
104
-
942
7,570
4,617		 Short-term
leasehold
property
£000
2,343
-
-
2,042
(13)
4,372
1,614
257
-
1,871
2,501
729		 Plant,
equipment,
fixtures and
fittings
Assets in the
course of
construction
£000
£000
8,336
2,186
631
2,921
(64)
-
-
(5,107)
(396)
-
8,507
-
4,711
-
797
-
(9)
-
5,499
-
3,008
-
3,625
2,186		 Total
£000
25,339
3,552
(64)
-
(419)
28,408
8,335
1,281
(9)
9,607
18,801
17,004

Included in freehold property is freehold land at valuation of £1,819,860 which is not depreciated.

Assets in the course of construction relate to costs associated with the 15 Upper King Street and Lower School Capital Development Projects.

Page 47

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

11. Investment property Group

Valuation
At 1 September 2024
At 31 August 2025
Charity
Valuation
At 1 September 2024
At 31 August 2025		 Freehold
investment
property
£000
730
730
Freehold
investment
property
£000
730
730

The freehold investment properties are included at open market valuation determined by the Council of Management's valuation as at 31 August 2025 based on a formal valuation dated 30 August 2024 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 (2024: £116,432) .

Page 48

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

12. Fixed asset investments

Group and Charity
Cost or valuation
At 1 September 2024
Additions
Disposals
Revaluations
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024
The majority of investments were gifted.		 Listed
investments
£000
1,881
414
(419)
(16)
1,860
1,860
1,881

The historic cost of listed investments on 31 August 2024 was £1,593k (2024: £1,523k) .

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 2025, the company had net liabilities amounting to £1,569 (2024: £1,596) .

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

No investments represented more than 5% of the total value of the portfolio at 31 August 2025. ( 2024: No investments) .

Investments are allocated between the funds as set out in Note 22 of the financial statements.

Page 49

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

13. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 Group
2025
£000
258
124
1,033
1,415		 Group
2024
£000
228
9
1,024
1,261		 Charity
2025
£000
258
124
1,033
1,415		 Charity
2024
£000
228
9
1,024
1,261

14. 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
2025
£000
194
3,520
965
309
43
100
571
5,702		 Group
2024
£000
194
3,920
1,621
264
44
346
620
7,009		 Charity
2025
£000
194
3,520
965
309
43
100
571
5,702		 Charity
2024
£000
194
3,920
1,621
264
44
346
620
7,009

Obligations under finance lease and hire purchase contracts of £43k (2024: £44k) are secured on the assets to which the liability relates.

The bank loan is secured, as detailed in note 15.

Page 50

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Deferred income

The table below includes both amounts due within one year (Note 14) and after more than one year (Note 15).

Deferred income due within one year totals £3,685k (2024: £4,001k) which consists of £3,520k (2024: £3,920k) fees received in advance and £165k (2024: £81k) of income received in respect of donations for use in funding bursary awards in the next financial year.

Fees in advance which are due in over one year total £919k (2024: £1,456k) as detailed in Note 15.

Deferred income at 1 September 2024
Resources deferred during the year
Amounts released from previous periods
Deferred income at 31 August 2025		 Group
2025
£000
5,457
4,604
(5,457)
4,604		 Group
2024
£000
3,047
5,457
(3,047)
5,457		 Charity
2025
£000
5,457
4,604
(5,457)
4,604		 Charity
2024
£000
3,047
5,457
(3,047)
5,457

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

Bank loans
Fees received in advance
Net obligations under finance lease and hire
purchase contracts		 Group
2025
£000
357
919
82
1,358		 Group
2024
£000
523
1,456
10
1,989		 Charity
2025
£000
357
919
82
1,358		 Charity
2024
£000
523
1,456
10
1,989

Obligations under finance lease and hire purchase contracts of £82k (2024: £10k) 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 2025

Included within the above are amounts falling due as follows:

Between one and two years
Bank loans
Between two and five years
Bank loans		 Group
2025
£000
194
163		 Group
2024
£000
194
329		 Charity
2025
£000
194
163		 Charity
2024
£000
194
329

Interest is charged on the Company's bank loan at a rate of 0.85% above the base rate. The loan is repayable by instalments until August 2028.

16. Hire purchase

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		 2025
£000
52
91
(18)
125		 2024
£000
46
10
(2)
54

17. Capital commitments

Contracted for but not provided in these
financial statements
Lower School development
Upper King Street		 Group
2025
£000
-
-
-		 Group
2024
£000
2,125
427
2,552		 Charity
2025
£000
-
-
-		 Charity
2024
£000
2,125
427
2,552

Page 52

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

18. Pension commitments

Teachers' Pension Scheme

The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £1,730k (2024: £1,477k) and at the year-end £Nil (2024: £196k) was accrued in respect of contributions to this scheme.

The TPS is a statutory, contributory, defined benefit scheme, governed by the Teachers' Pension Scheme Regulations 2014. All teachers have the option to opt-out of the TPS following enrolment. The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary - these contributions 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 every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately and the review specifies 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 actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI.

The key elements of the valuation outcome are:

The valuation result is due to be implemented from 1 April 2024. The next valuation result is due to be implemented from 1 April 2027.

A copy of the valuation report and supporting documentation is on the Teachers' Pensions website at: https://www.teacherspensions.co.uk/news/employers/2019/04/teachers-pensions-valuation-report.aspx

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The School is unable to identify its share of the underlying assets and liabilities of the plan. Accordingly, the School has taken advantage of the exemption in FRS102 and 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.

Pension scheme as an alternative to the Teachers' Pension Scheme

From 1 September 2022 the School began operating a new direct contribution pension scheme to provide teaching staff with an alternative option to the Teachers' Pension Scheme. The scheme is operated by APTIS and is on an 'opt-in' basis.

Page 53

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

18. Pension commitments (continued)

Norwich School Defined Contribution Scheme

In addition to the alternative scheme noted above, the School also continues to operate the existing 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 full actuarial valuation of the Scheme was carried out as at 6 April 2024, and the results updated to 31 August 2025 by a qualified independent actuary.

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

At 31 August At 31 August
2025 2024
% %
Discount rate 6.1 5.1
Price inflation (CPI) 3.0 3.0
Future increases to pensions deferment 2.45 3.5
Future increases to pensions in payment 3.7 3.7
At 31 August At 31 August
2025 2024
Years Years
Mortality rates (in years)
- for a male aged 65 now 86.5 86.3
- at 65 for a male aged 45 now 88.1 87.5
- for a female aged 65 now 89.0 88.8
- at 65 for a female aged 45 now 90.8 90.2

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

At 31 August
2025
£000
Cash and other liquid assets
254
Investment funds
684
Total fair value of assets
938		 At 31 August
2024
£000
270
647
917

Page 54

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

18. Pension commitments (continued)

The actual return on scheme assets was £10,000 (loss) (2024 - £19,000 gain) .

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

Interest income
Interest cost
Total amount recognised in the Consolidated Statement of Financial
Activities		 2025
£000
(46)
30
(16)		 2024
£000
(41)
28
(13)

Movements in the present value of the defined benefit obligation were as follows:

Opening defined benefit obligation
Interest cost
Actuarial (gains)/losses
Benefits paid
Closing defined benefit obligation		 2025
£000
593
30
(96)
(15)
512		 2024
£000
552
28
22
(9)
593

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

Opening fair value of scheme assets before asset ceiling adjustment
Expected return on assets
Actuarial (losses)/gains
Contributions by employer
Benefits paid
Closing fair value of scheme assets		 2025
£000
917
46
(10)
-
(15)
938		 2024
£000
768
41
19
98
(9)
917

In relation to the Norwich School Pension Scheme for non-teaching staff (a defined benefit scheme) the actuarial valuation on the plan for accounting purposes showed a plan surplus of £426k (2024 - £324k) at 31 August 2025, being the excess of scheme assets over the defined benefit obligation.

A plan surplus is recognised in the financial statements as a defined benefit plan asset, only to the extent that the School can recover the asset either through reduced contributions in the future or refunds from the plan. The School notes advice that the prevailing view held by actuaries is that employers have no unconditional right to a refund from such defined benefit pension schemes, and that a minimum funding requirement for future service exists.

Page 55

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

19. Operating lease commitments

At 31 August 2025 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
2025
£000
802
2,446
5,730
8,978		 Group
2024
£000
728
2,418
6,020
9,166		 Charity
2025
£000
802
2,446
5,730
8,978		 Charity
2024
£000
728
2,418
6,020
9,166

20. 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 2025 the School was owed £2,255 (2024: £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 in the previous year by The Very Reverend Dr A Braddock 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 £331,651 (2024: £347,531) of which £7,898 was still owed at year end (2024: £Nil). The School had £5,414 of sales to the Chapter of Norwich Cathedral (2024: £6,597) of which £971 was due to the School at the year end (2024: £Nil). In addition, the Chapter's 100% subsidiary company, Norwich Cathedral Enterprises Limited, provided catering services to the School totalling £293 (2024: £410) of which £Nil was outstanding at the year end (2024: £Nil).

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 £1,835 (2024: £170), with £855 remaining due to Jarrold and Sons Limited at year end (2024: £550). The School made sales of £Nil to Jarrold and Sons Limited in the year (2024: £550), of which £Nil was due after year end (2024: £Nil).

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 £27,551 (2024: £106,596) with £775 remaining due to Mills and Reeve LLP at year end (2024: £441). The School had sales of £528 in the year to Mills and Reeve LLP, and £48 was due to the School at year end (2024: £360 sales and £80 due at year end).

Mrs A Sarkar Roy, member of the Council of Management, is Treasurer and a Non-Executive Trustee of 8th Norwich Sea Scouts. The School made purchases from and sales to this charity during the year of £1,002 and £25,349 respectively (2024: £1,086 and £34,646 respectively). At the year end the school owed £1,002 (2024: £Nil) and was owed £5,385 (2024: £8,633) from the charity.

Page 56

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

20. Related party transactions (continued)

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 £365 (2024: £7,776), of which £Nil remained due to the Norfolk Club at year end (2024: £Nil).

Mr D Talbot, member of the Council of Management, is a Trustee of the Norfolk Broads Yacht Club. The School made purchases from the Norfolk Broads Yacht Club totalling £4,746 (2024: £7,544). There were no amounts outstanding at the year end (2024: £Nill).

Dr A C Wood, member of the Council of Management, is a Council Member of the University of East Anglia. The School made purchases from UEA (including UEA Sportspark) totalling £17,161 (2024: £30,175) of which £Nil remained due to UEA at year end (2024: £Nil).

Very Reverend Dr Andrew Braddock, member of the Council of Management, is the Vice-Chair of the Friends of Norwich Cathedral. The School made purchases of £75 from the Friends of Norwich Cathedral (2024: £Nil) of which £Nil remained at year end (2024: £Nil).

Four members of the Council of Management, Mr N Q Back, Mr J M Hunter, The Reverend Canon A Platten and Dr A C Wood, 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.

The children of staff, including those of the senior leadership, attend the School, these children are also subject to the standard fee rates and discounts.

Page 57

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

21. Statement of funds

Statement of funds - current year

Balance at 1
September
2024
£000
Designated
funds
School
development
fund
1,950
General funds
General Funds -
all funds
15,387
Total
Unrestricted
funds
17,337
Endowment
funds
Permanent
endowment
3,273
Restricted
funds
Bursary funds
456
Other restricted
funds
1,061
Scholarship
Fund
1,325
2,842
Total of funds
23,452		 Income
£000
Expenditure
£000
15
-
25,783
(25,531)
25,798
(25,531)
-
-
512
(188)
345
(356)
38
(6)
895
(550)
26,693
(26,081)		 Transfers
in/(out)
£000
(1,959)
1,959
-
-
-
-
-
-
-		 Gains/
(Losses)
£000
(6)
(16)
(22)
-
-
-
(29)
(29)
(51)		 Balance at
31 August
2025
£000
-
17,582
17,582
3,273
780
1,050
1,328
3,158
24,013

Page 58

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

21. Statement of funds (continued)

Statement of funds - prior year

Designated funds
School development
fund
Staff development fund
General funds
General Funds - all
funds
Total Unrestricted
funds
Endowment funds
Permanent endowment
Restricted funds
Bursary funds
Other restricted funds
Scholarship funds
Total of funds		 Balance at
1 September
2023
£000
597
200
797
15,826
16,623
3,273
298
998
1,202
2,498
22,394		 Income
£000
14
-		 Expenditure
£000
-
-		 Transfers
in/(out)
£000
1,300
(200)
1,100
(1,100)
-
-
3
(3)
-
-
-		 Transfers
in/(out)
£000
1,300
(200)
1,100
(1,100)
-
-
3
(3)
-
-
-		 Gains/
(Losses)
£000
39
-
39
(111)
(72)
-
-
-
93
93
21		 Balance at
31 August
2024
£000
1,950
-
1,950
14 - 1,100
25,899
25,913
-
322
452
36
810		 (25,127)
(25,127)
-
(167)
(386)
(6)
(559)		 (1,100)
-
-
3
(3)
-
-		 15,387
17,337
3,273
456
1,061
1,325
2,842
23,452
26,723 -

Page 59

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

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:

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

Bursary Campaign Fund - utilises monies generated by the Development Office's Bursary campaign to provide means-tested assistance across the Senior School. This includes awards made for those on the Norfolk Sixth Form Scholars Scheme, which offers transformational support to five pupils for the duration of their Sixth form career.

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 - 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.

Ogden Trust grant - 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.

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

Investing in Our Future - an annual fund campaign that encouraged people to give to one of three pots (Headmaster'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 created for the benefit of specific pupils.

Page 60

KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Designated Funds

The Council of Management designates certain funds on an annual basis, and there is currently one designatued fund.

The School Development Fund related to amounts designated for future School Capital projects. Funds allocated for this purpose were invested within the School's listed investment portfolio and bank notice accounts. Income allocated to the fund related to dividends received from listed investments and interest. Gains/(losses) during the year related to gains on revaluation and on disposal of listed investments. Following completion of the major capital projects at the Lower School and at Upper King Street, the opening balance of £1,950k on the School Development Fund has been released in full to General Funds in order to cover future depreciation costs on these leasehold property improvements.

22. Summary of funds

Summary of funds - current year

Balance at 1
September
2024
£000
Designated
funds
1,950
General funds
15,387
Endowment
funds
3,273
Restricted funds
2,842
23,452		 Balance at 1
September
2024
£000
Designated
funds
1,950
General funds
15,387
Endowment
funds
3,273
Restricted funds
2,842
23,452		 Income
£000
Expenditure
£000
15
-
25,783
(25,531)
-
-
895
(550)
26,693
(26,081)
Income
£000
Expenditure
£000
14
-
25,899
(25,127)
-
-
810
(559)
26,723
(25,686)		 Transfers
in/(out)
£000
(1,959)
1,959
-
-
-
Transfers
in/(out)
£000
1,100
(1,100)
-
-
-		 Gains/
(Losses)
£000
(6)
(16)
-
(29)
(51)
Gains/
(Losses)
£000
39
(111)
-
93
21		 Balance at
31 August
2025
£000
-
17,582
3,273
3,158
24,013
Balance at
31 August
2024
£000
1,950
15,387
3,273
2,842
Summary of funds - prior year
Designated
funds
General funds
Endowment
funds
Restricted funds		 Balance at
1 September
2023
£000
797
15,826
3,273
2,498
22,394
23,452

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

23. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£000
Tangible fixed assets
16,411
Fixed asset investments
639
Investment property
730
Current assets
6,862
Creditors due within one year
(5,702)
Creditors due in more than one year
(1,358)
Total
17,582		 Restricted
funds
2025
£000
-
1,066
-
2,092
-
-
3,158		 Endowment
funds
2025
£000
2,390
155
-
728
-
-
3,273		 Total
funds
2025
£000
18,801
1,860
730
9,682
(5,702)
(1,358)
24,013

24. 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
Revaluation of investments
Loss on disposal of fixed assets
Decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Pension scheme non-cash movements
Net cash provided by/(used in) operating activities		 Group
2025
£000
577
(47)
(62)
(326)
41
1,281
16
2
(1)
(154)
(1,843)
(16)
(532)		 Group
2024
£000
1,169
(44)
(62)
(467)
53
1,046
(144)
89
(11)
(115)
3,466
(111)
4,869

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KING EDWARD VI GRAMMAR SCHOOL, NORWICH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

25. Analysis of cash and cash equivalents

Cash at bank and in hand
Total cash and cash equivalents		 Group
2025
£000
8,234
8,234		 Group
2024
£000
11,542
11,542

26. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
Hire purchase		 At 1
September
2024
£000
11,542
(194)
(523)
(54)
10,771		 Cash flows
£000
(3,308)
-
196
(60)
(3,172)		 Other non-
cash
changes
£000
-
-
(30)
(11)
(41)		 At 31
August
2025
£000
8,234
(194)
(357)
(125)
7,558

27. Financial instruments

Group Group Charity Charity
2025 2024 2025 2024
£000 £000 £000 £000
Financial assets
Financial assets measured at fair value
through income and expenditure 1,860 1,881 1,860 1,881

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

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