Rggistered number: 01657702 Charity number- 513031 STAFFORD INDEPENDENT GRAMMAR SCHOOL (A company limited by guarantee) GOVERNORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA company limited by guarantee) CONTENTS Page Reference and administrative detsil$ of the charitable company, its Governors and advisè Governots. report lin¢orporating strategic report) Independent auditors. report on the finan¢ial statwnents Statement of financial a¢tiviti8s 2-10 11-14 15 Balance sheet 16 ststement of cash flows 17 Notes to the financial statements 18-35 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS GOVERNORS ANO ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023 Govemors Mrs S Bums Iresigned 18 October 20231 Dr M L Bush Iresigrhed 27 September 20231 Mr T Carson Mrs J Causer. Cha Rev J Daws MrASFirth Mr J Johnson Mr B W J Phillips Company registered number 01657702 Charity registered numbèr 513031 Registered office Burton Mar￿T Stafford Staffordshire ST18 9AT Company secretary Mr S R Baum (resigned 6 February 20231 Mr T Collier lappornted 1 November 20231 Chief executive officer Mr N Pietrek Independent auditors Cooper Parry GToup Limrted Statutory Audrtor Cubo Birmingham OffKe 401. 3rd Floor Two Chafflberlain Square Birmingham B3 3AX Page 1 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA company limited by guarantee) GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Govemors of Stsfford Independent Gramrnar School Ilhe S¢hool"I present their annual report together wrth the audrted financial stalemenls for the year ended 31 August 2023. The School also operates under the name St8ffoTd Grammar SchC￿)E. AIMS AND OBJECTIVES Policiès and obje¢tiv•s The School's principal objedive is lo promote and advance education. The School provides education for boys and girls In Stafford and the surrounding areas from the ages of 4-18. Stafford Grammar School comprises the Preparatory School 14-111, Senior School 111-161 and Sixth Fofm116-181. Slafford Grammar School aims to ensure that all pupils fu￿11 their academic and personal p(Aential wrthin a canng family atmosphere and where pupi15 are known as Individuals and nurtured accordingty. The School slnves to create a Community of happy, caring and confident indiwduals. Dunng the year the sch(￿ averaged 444 pupils12022". 4351. Almost all Year 6 pupils from the Preparatory School moved into the Senioi School. In pursuance of the Schrx)I's principal objectives and rt5 chafrtable stslus. the School.. Awaids scholarships and bursaries to encourage ex￿llenCe and to enable children from families. who would not otherwise be able to afford to pay lees. to access the education the School offers. Has the necessary power5 to conducl and devdop land if appropnate make acquisrtions relating tol the School. Objectives for the year ended 31 August 2023 Our main objectives weTe". To maintain and enhan￿ the pupil roll. To continue to wden access lo education ar7d continue to promde a public benefft. To maintain current high levels of academic achievement through consistent ex￿lIent perforTnan¢e in public examinatbons. at the same time as maintaining our sporting and cukural activities. To maintain a long-tem sustainable financial resIlEn￿ in the light of the Continuing challenges faced. Considerations ￿1¢yant to achièving objectives The effect of the current economic climate and the affordabilty of fees by our pa￿nts. To keep lurtion fees as low as possible given the aims and obiectives of the School. Class sizes of a maximum of 20 as far as reasonabty practicable at Key Stage 2 and above, which allows pupils Iirne to develop academKalty and attain well-rounded personalrties Maintaining the current hfgh level of academic achievement as measured by external publK examinalions and Independent stsndardised assessment criiena. Maintaining a reasonable nel surplus level against a continuing threatening polrtical environment by ensuring that strategies for controlling costs and ¢aptsl expendrture continue lo be iobust and effective. Maximising access to the School still further by the promsion of means-tested buisanes. The S¢hool continues to strwe to make the fees affordable lor parents to enable them to keep their children at Stsfford Grammar School and lo attract nev4 famil*s to the School. PUBLIC BENEFIT The School remains committed to the aim of providing public benefit and offerifig wider access to the education the School offers. by awarding scholarships and means tested bursanes to those unable to pay for an Independent educatK)n. Page 2 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA Company limited by guaranteel GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 During the year. the School awarded bursaries and scholarships lotalling £683,934 12022. £689,287110 142 12022. 1231 pupils. Within this lolal, means-lesled awards. based on a sliding scale according to family financial circumstances. lotalling £390,72412022. £364.0861. were awarded lo 77 pupils 12022. 60 pupils), equivalent lo 2812022. 241 full Senior School fee paying places. In addition lo bursaries. the School has engaged In a number ol activities that provide a public benefit. A5 an example. the School enters into arrangements with local maintained schools. under which their pupils attend an annual choral day event Involving a series of leaching workshops culminating in an evening show for parents. Also, loeal community groups and organisations have benefited from being able to use the wide range of facilities and resources available al the Sehool. Charitable sUPPOrt and actlvltles During the course of the year £5,341 12022. £5.4551 was donated lo charities supported by Slafford Grammar S¢hool. These included the Bee Friendly Trust, Child ol Mine, Read for Good. Young Minds. Children In Need, Save the Children. Acorns. House ol Bread, Cancer Research, Syria Earthquake appeal. Amazon Smile, Hearts and Hands, Severn Hospice and the RSPCA. The School community also makes a large food donation to House DI Bread al our harvest leslival lo support families In the local community. All pupils are expected to take part In supporting Charities through form challenges In which they plan and design a fundraising aelivity and nominate a char11y 10 5UPPOrt. Fundraising performanco There were no donations and legacies in the year12022 £nonel. From Sfjplember 2023. the S¢hix)I has been fundraising lor relraclable seating for our theatre space. All fundraising aclivilies for the School are carried out by School staff with assistan¢e from the parents and pupils, and are monitored by the Headmaster and Director of Finance and Operations, with overall oversight by the governing body. The School has an active Parent Teacher Association IPTAI. who works closely with the School. Various fundrai51ng events are held through the year by the PTA, and funds are provided by the PTA lo the School for specific requests. No eomplainls felaling lo fundraising activities have been received by the School during this financial period. The School does not currently subscribe lo any specific fundraising standards or schemes lor fundraising regulation but considers that It has sel appropriate slandards for Ihe operation and managomenl of ils fundraising activities. ACHIEVEMENTS AND PERFORMANCE Revlew of significant activitie$ a. Curriculum The National Curriculum provides the basis for Slafford Grammar School's broad and balanced curriculum. The School encourages excellence In all area5. Clas5 sEes are Sfnall. which enables Individual attention for each pupil and personalised tracking of progress. Option5 for GCSE are chosen al the end of Year 9 lallhough some subjects Introduce GCSE content In Year 91, and support Is provided for pupils In making their choices. Typically. students begin the Sixth Form with 3 A-level subjects Almost all students go on 10 study al university Iwith a small number choosing degree apprenlice5hipsl, many al Russell Group univer511ies and the majority ol student5 go orTr lo study al their fir51 choice university. Personal. Social. Health and Economic Education IPSHEEI and Relationships and Sex Education IRSEI is covered through our dedicated 'Lrfe and Wellbeing programme and pupils receive lessons in each fortn1ghlly Page 3 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 cycle In addrtion to the RSE curriculum, the School puls on additional 'dropdown' days with dedicated lime off timetable for each year group to IOCLJS on a range ol RSE topics. We have also launched a Cross-schools project with another Independent school lo educate and engage students In responding to Issues around sexual harassment In society and the signif1canl 155ues raised by the Everyone's Invited website. b. Examinatlon results and academic achiovamonts The School achieved a 100°/D pass rate al A Level with 61010 ol grades al A'_B. In line with the national trend, the percentage of A'.B results achieved In 2023 was lower than for 2022. 6 pupils lor 15Q/o of the cohort) achieved A. or A grades. The School Improved Ils overall pass rale (Grades 4-91 lor GCSE grades lo 960A In 2023 from 950/0 in 2022. However, the percentage 017-9 grades was down al 34010 compared to 53.10 in 2022. National leagLJe tables in newspapers place our results above those of most local independent and maintained schools. The Telegraph newspaper ranked Slafford Grammar School as 125 In the country for Ils A Level results and the lop independent school in S¢affordshire. Five pupils secured places on medical courses, Pupils have also achieved considerable success In the UK Maths Challenges with 45 pupils achieving Gold, Silver or Bronze certificates. c. The House system Inler-House competition continues lo thrive al the School, with events taking place throughout the year. This provides opportunities for the School lo inslil the values of team work and commitment. Sporting compelilion5 include football, cricket. cross-counlry. hockey, netball and tennis. In addition. the Houses compete In an annual Sports Day al a local 5POrts stadium. The Houses also compete In a technology competition. I'The Great Egg Race'l, a baking competition and a public speaking competition. The three Houses, Anson. Filzherbert and Talbol. signilicanlly add lo the spirit of Slafford Grammar School and the Heads of House maintain pastoral and academic management for all pupils In their House. As well a5 the House activities and House assemblies which build a strong sense of community, there is a lulorial programme delivered during form periods by tutors Some of this programme supplements the formal 'Life and Wellbeing. programme IhroLJgh which PSHEE and RSE Is delivered and other parts of the programme enable students lo appreciate art, music and literature lo enhance their cultural awareness and appreciation. d. Other activititrs The School is fortunate in having staff who are willing to devote time lo a wide fange of extracurricular aclivilies. designed lo enrich pupils, experiences over and above the School curriculum. The aim of these activities is lo develop pupils as conlidenl, articulate and well-rounded Individuals who are well-prepared for Ille beyond School. We have a thriving Forest School for all year groups In the Prep. School to enable pupils lo experience the OLJtdoDrs In a woodland area of our extensive School site. The Fore51 School al$0 builds pupils confidenGe, sell-esteem and a sense ol wellbeing Performing arts- music and drama Music continues lo excel at Stafford Grammar School. with the Musi¢ Department performing around 40 concerts a year. The Music Department runs numerou5 groups and ensembles. Including Big Band and Concert Band The music groups perform In national and International cowpetitions. Several ol our musicians performed with the National Youth Orchestra. Majoi concerts take place In School al Christmas and Easlef. We ran our annual Choral Day. welcoming over 300 Primary School singers from around Staffordshire lo our School for an afternoon of workshops and an evening concert for an audience of more than 700 people. We also visited four Primary Schools as part ol our annual Big Band Roadshow. delIVer￿ng free educational ¢oncerts lo children In local Schools. Other community based projects include Christmas Music In the Community (local supermafkets and retirement homes) from the S¢hool band. the School choir being part of several community Page 4 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 services at st Mary 5 Church throughout the year and pupils providing music lor Slafford's remembrance service as well as playing the last post at 6 other remembrance servi¢es across the county in November. Our Community Band rehearses once a month. and draws member5 of all ages from the local community who perfom in concerts and competitions through the year. 80 ASRBM. London College of Music and Trinity College London exam5 were passed by pupils during the academic year. Drama goes from strength to strength al Slafford Grammar School, with very high*uality productions taking place each year. Typically. there is a junior play (Years 7-91 and a whole school musical production in the senior school. The Prep. School produces at least two plays each year, as well as performing ln their own Christmas concert. The Sixth Form also put on an annual pantomime. Slafford Grammar School pupils are also prepared for LAMDA examinations. with a wide range of students achieving success each year The LAMDA teacher5 in School deliver lessons lo pupils from the Piep School up to the Sixlh Form. 100 pupils look LAMDA exams this year ol whom 76 achieved distinction. The dance and drama studio has proven very popular with students and we have three peripalelic dance teachers delivering a range of dance lessons to sludents as well as use on Saturdays during this year by a local theatre. dance and drama school. f. Sport The School continues lo play competitive fixtures in the following sports. football. rugby. cricket, hockey. netb211 and rounders. In addition. pupils are also entered for competitions in cross-counlry, tennis. alhlelics. eqLJeslnanism. skiing, shooting. gymnastics. dance and swimming. The School hosts the District Cross-country Championships and acts as team managers for the County Finals. The School a150 hosted the U15 and U13 Midlands football tournaments at Rowley Park. Sport has seen some superb successes this year. Individual successes include several pupils who have been selected for dislncl, county and national teams In their various sports, in¢luding alhlelics, cheerfeading. cricket. cross-country. dance. equestrianism, fishing, football, golf, gymna5tiC5, hockey. netball. rounders. rugby. shooting, skiing. speed-skating. swimming. tennis and squash. Some of our team suc￿SseS lo note include. U12 and U13 District Netball Champions U151U16 District Netball Champions U16 ISA Netball 2nd Place U13 ISA Midlands Football - 3rd Place U15 Rugby 10's ISA Midlands- 3rd U15 County Cup Cricket- 4th U13 and U15 ISA Midlands Rounder5- 3rd ISA Skiing - Senior Girls 2nd British Ouldooi National Schools Championships - 1 sl Senior Team UK Indooi Championships - 2nd U19 Girls Team British Schools Indoor Championships - 2nd Girls Senior Team The School's AslToTurf MUGA Imulti Use Games Areal pitch Installed in 2021 is in regular use for hockey and football training The hiring out of the School's sports hall and facilities during evenings and holiday periods contributed towards the School's commitment lo supporting the wider commLJnity. g. Duke of Edinburgh's Award The Duke of Edinburgh Scheme continue5 to thrive at the School, thanks lo the support and dedication of the staff and enthusiasm of the pupils. During the year, pupils achieved 32 Bronze. 16 Silver and 5 Gold Awards. Page S STAFFORD INDEPENDENT GRAMMAR SCHOOL IA company limited by guarantèè) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 h. School trips There have been several residential trips in the year, including lo trips lo Arele, Br￿any, Paris. London and Berlin. There has also been the Year 8 bush craft trip. . School transport The School runs a fleet of minibuses in order to get pupils from their home address lo the School which. due to its popularity and convenience for parents. is growing in size lo accomrllodale the increase In demand. Each roule Is reviewed annually lo provide as near as practicable a 'door lo door daily service fof pupils attending School. There Is a knock-on environmental advantage to doin9 this In Ihal rt saves In the order of 100.000 car journeys pei year which would otherwise have had lo be undertaken by parents. An important secondary function Is lo transport pupils lo the many sportin9. musical. curncular and extracurricular venues visited during the couise of the School year. FINANCIAL REVIEW Results for the year The School's nel Incorne surplus lor the year amounted lo £180,30612022". £245,343). The annual fee Increase in September 2022 was 3.5°/.. The School's lolal nel Income lor the year increased by £350.443. up by $.8010 12022" 9.80/ts increase), on the previous year. However. the total expenditure lor the year Increased by £415.480. up by 8.4°1.12022. 9 4°/0 Increase). One of the main objectives of the School is lo maintain the pupil roll at a realistic level and the Governors. principally through the Finance. Development and Audit Committee, regularly review pupil retention and recruitment. including slrategies lo be adopted and activities to be undertaken In support of this key objective ol the School. Key performance indicators The main perfomiance metric5 of the School are pupil number5 and succe5se5 al GCSE and A-levels as well as pupils getting into their first choice university.. these have already been set out in other areas of this report. The future prosperity of the School Is closely linked lo these figures. Some of the other indicators we use to monitor the financial health ol the School are. 2023 970/ 57010 2022 95°/ 53/ 16Q/o /. Costs lo nel Income /0 Teaching salaries to nel income /D Support salaries lo nel income °/0 Nel surplus lo nel Income Current ratio 2.7.1 Whilst the School has improved Income. costs also signrficantly Increased resulting in the teaching salary percentage increasing compared to 2022. Going Concern It is ¢ritical that shortfalls are tackled In turbulent times as financial resilience will help the School to stay flexible and adaptable to unexpected changes in PLJpII numbers and lo manage planned and unplanned ¢osts The expendit(Jre of the School is dominated by staff salaries which amount lo 72.fi of nel Income, nevertheless opportunities for reducing Costs, without adversely affecting perfomiance, are idenlifieLI and aclioned when possible. Page 6 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA cownpany limited by guarantoel GOVERNORS, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 The School is debt free. Al the year end the School had cash al bank and in hand of £1.696.245. After making appropriate enquiries, Including consideration of cash flow forecasts lo the end of FY2025. the Governors have concluded that il is reasonable to expect that the School will generate sufficient resources lo continue in operational existence for the foreseeable future and meet all of its financial obligations. It Is considered that, after examining likely future risks lo the business (including the possibility that VAT will be added to tuition fees and bu51ness rates relief will be scrapped). that there will be sufficient funds lo continue in operation should these risks malenali5e. A5 3 matter of course Governors Consider the financial risks lo the School al formal meetings and also infomially on a monthly basis by reviewing the management accounts. For this reason the Governors have ctsnlinued lo adopt a going concern basis in preparing the School's financial slalemenls. Financial and general ri$k management The Governors have assessed the maioT risks to which the School is exposed. in particular those related to the operations and finances of the School, and are satisfied that systems and procedures are in place to mi11gale ils exposure lo the major risks. The principal short and long tem risks facing the School are considered lo be". Affordability of an independent school education lo our parents in relation to household in¢ome and other financial pressures. This is especially true if independent schools lose their exemption for VAT on school fees together with business rates relief. Future enforced lockdowns of the School for heatth or other reasons. This risk will be mrtigaled by the proven ability of the School lo switch lo extensive high quality online teaching of its pupils. Continued economic shock resuming from global conflicts have posed both financial and general risk to the oper*ion of the School which has required very careful management by both the Governors and Senior Leadership Team to minimise its impact on the general operation of the School and its financial wellbeing. Operational costs ol running an Independent school. including staffing. facilities. assets, pension5 and ulililies. The future loss ol business rate relief for Charities would have an immediate irnpacl on the operational costs of the school. Cybercrime attacks on schools. The Impact of this has been mitigated by having strong firewalls and IT proto¢ols In place. The School has used external advice to Improve 115 delence against cybercrirne. and is continually looking to improve our delence mechanisms Including compulsory staff training. In addition, the School carries Insurance against cybercrime. The S¢hool's plan of action lo mitigate the risk of a cyberattack Is under constant review. Regulatory and compliance burdens such as safeguarding to ensure the heatih and wellbeing of our pupils and staff under the protection and guidance of the School. The changing political and social environment and our respon5ivene5s to changes. The macroeconomic impact ol the International Increase In the cost of energy. raw materia15 and goods and services in general together with Inflationary pressures on salaries. Recruitment and retention of quality teachers and support 51aff wrth relevant skills. In the opinion of the Governors, the School ha5 established resovrces and a review system whereby detailed considerations of risk are delegated lo the appiopriale Comfnittees. Risks are identified, assessed and controls established throughout the year. The generic controls used by the School lo mrtigale risks Include.. Formal agendas for all Committee and Board aclivily. Comprehensive strategic planning. budgeting and management accounting. Established organisalional structure and lines ol reporting. Formal written policies. Hierarchical authorisation and approval levels lor financial decision making. Page 7 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 Vetting procedures as required by law for the protection of the vulnerable. The Governors regularly review the effectiveness ol current plans and strategies for managing all identified principal risks for the School. Heafih and Safety Is a￿ayS a 5ignifi¢anl area for risk management. The risks range from fire and infrastructure to personal risks These risks are minimised by thorough planning and risk assessment. The Health and Safely Committee regularly reviews the health and safety risks lo the School and best practice to deal with them. Fees The Governors are mindful of the e¢onomi¢ outlook and are aware that lees need lo be affordable and realisti¢. Key financial decisions In the year Included the decision of a modest. below Inflatlon, fee Increase of 3.50/0. applied from September 2022, In order to maintain affordability for parents while providing the funds necessary to meet Inflationary increase5 in expenditure and to ftjrther Invest In the School's buildings. equipment and infrastructure Prin¢ipal funding and reserves policy The Governor5 recognise the need lor prudent financial management and lo have sufficient reserves and cash over the short, medium and long term. The School"s policy is lo hold sufficient ¢ash resetves to enable il lo meet ils short-lem financial obligations In the event of an unexpected revenue shortfall or expenditure increase. The Governors view the development plan for the School a5 the most effedive and prtjdenl way to ensure the long term future of the School. Free Reserves were £1.282.430 which the School calculates as the net funds less those represented by tangible fixed assets. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution The S¢hool Is registered as a charitable company Iim11ed by guarantee (number 5130311 and conslrtuled under the Articles ol Association dated 11 August 1982, as amended by special resolution on 1 March 2021. Policies adopted for the induction and training of Governors New Governors are inducted into the workings of the School, Including Governing Body policies and procedures at meetings with the Headmaster and Director of Finance and Operations. The new Governors are also able to attend specialist external courses on the role and responsibililies of charity trustees. Members of the Goveming Body attend internal and extemal trustee training and information briefings designed to keep them Informed and up(Sated on current issues In the sector and regulatory requirements. Pay policy for senior and other staff The remuneration of senior staff members is reviewed annLJally by the Headmaster in conjunction with advice and recommendations given by selected member5 of the Governing Body. The remuneration of the Headmaster Is reviewed and agreed at the Finan￿. Development and Audit Committee. Reference Is made lo comparison5 contained within independent schools peer group benchmarking survey report5 $0 as lo ensure that the School remains aware of land is able to take Into account) pay and employment condition5 elsewhere in the Independent and slate sector5. Generally. the School aims to recruit. subject to experience. at the lower lo median point wrthin a band, providing scope for rewarding excellence. Delivery of the School's charitable role is primarily dependent upon Page 8 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 our key management personnel and staff costs are the largest Sing￿ eknient of the School's charitable expendrture. Oryanisational structure and decision making The members of the Goveming Bthay. as Ihe chanty Iruslees. a￿ legal￿ responsib￿ for the overall management and ¢onlrol of the School. They meet al least three limes a year. The work ol Implementing their policies is carried out by three committees. which meet as required and report back lo the Goveming Body. These committees are. The Finance. Development and Audrt Committee whKh scrulinises the Schod's rnana9emenl accounts, budget. financial risk and capital expenditure. This Committee also superv1se$ and finalise$ the audited financial slalemenls and annual report for approval by the Goveming Body. The Cwimittee is chaired by Mr Brett Phillips. The EduCat￿n and Standard5 Committee scrulinises procedures Implemented by the School for regulatory compliance and oversight ol the S¢hool'$ edu￿tIOnal provision. Thg Committoe has been chaired by Dr Marie Bush for the 2022123 academic year. The Health and Safely Committee ensures that all relevant siatulory requirements are being complied with and that the Heatth and Safety Policy requirèments are mel. The Committee is chaired by Mr John Johnson. The day-l￿aY Tunning of the School Is delegated lo the Headmaslef, Deputy Head - Pupils and Staff. Deputy Head - Academic and Operations. Oireclor of Finance & Opefatiorss Ipreviou51y known as the Bursar), Head of the Preparatory Sehool and Head ol the Sixlh Fom) as the key management personnel and Senior Leadership Team ISL Tl. The Headmaster and DITeclor of Finance 8 Operations attend meetings of the Governing 8ody's Committees. PLANS FOR FUTURE PERJOOS The Sch¢)ol has been planning for the ILrture. These plans Include. To continue lo ensure the School srte provides a safe ar￿ attractive enwronment for pupils, 51aff and visitors alike. To provide a happy and secure pastoral environment. in which 41 pupils are offered opportunities for leadership and serviee lo others. To provide a slimulaling and enjoyable learning envifonment in which pupils can develop their academie potential to the full. Developing partnerships wrth businesses through membership of the Staffordshire Chambers of Commerce. To ensure the School play$ a s￿n￿l￿nt part in the lrte of the local communty. sharing facilrties and seeking local partnerships wherever possib￿. Relraclable sealing in the theatre to enable visrtors and parents lo support the plays and musical perforrnances of the pupils. The School is gfatelul for the continued support of the PTA with this endeavour. GOVERNORS, RESPONSIBIUTIES STATEMENT The Governors Iwho are also directors of Slafford Independent Gramrnar School for the purposes of company lawl are responsible for preparing the Governors. Report and the financial slalemenls In accordance with applicable law and Unrted Kingdtyn Accounting Standards Iunrted Kingdom Generalty Accepted Accounting Praclicel. Company law requires the Govemors to prepare financial statements lor each financial year. Under company law the Governors must not approve the finan￿al statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitab￿ company and of the incoming resources and application of Page 9 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA company limited by guarantee) GOVERNORS, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 resources. Including the income and expendrtufe. of the chantable company for that period. In preparing these financial slalements, the Govemors are required lo". Select suitable accounting polioes and then appty them con515tenlly. Observe the methods and principles in the ChafIt￿S SORP. Make Judgments and accounting eslimales Ihat are reasonable and prudenl. Prepare the financial slalemenls on the gtyng concem basis unless Il Is Inappropriate to presume that the charitable company will continue In operation. The Governors are responsible for keeping adequate accounting records that afe sufficient lo show and explain the charitable company's Iransaction5 and disclose wrth reasonable accuracy at any time the financial position of the charitable company and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible lor safeguarding the assets of the charitable company and hence lor takin9 reasonable steps lor the PreVent￿n and detect¢on ol fraud and other itregularities Dlsclosure of inlormation to Auditors In so far as each ol the Governors. as Directofs of Ihe charitable company. at the dale ol this report Is aware there Is no relevant audit information of which the charitable company's au¢Jitois are unaware, and Each member ol the Governing Body has taken all the steps that he or she should have taken as a member of the Governing Body In order lo make him or her aware of the relevant audit Information and lo establish that the chaiitabl¢ ￿MpanY'S auditor5 are aware of that Infom)atson. Other than one Governor having children as pupils al the Sthool no Govornor has any related paty relationships wrth ￿spect to Stafford Grammar School. Approved by order of the members ol ihe Board of G¢)vemors and sKJned on their behaff by.. Mrn J Causer Chair Dale". ¢lkntr4r J JOLt Page 10 STAFFORD INDEPENDENT GF14MMAR SCHOOL IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF STAFFORD INDEPENDENT GRAMMAR SCHOOL Opinion We have audrted the ffinancial statements of Stafford Independent Grammar School Ilhe 'charilable company'l for the year ended 31 August 2023 which comprise the Statement of Financial Adivities. the Balan￿ Sheet. the Slalement of Cash Flows and the related notes including a summary of significant accounting policies. The financial reporting framework that has been applied in therr preparation is applicAble law and United Kingdom Accounting Standards. including Finanual Reporting Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. Iunrted Kingdom Generalty Accepted Accounting Practi￿1. In our opinion the financial slalemenls" give a true and fair ol the slate of the chartsble compan¥s affairs as al 31 August 2023 and of ils incoming resources and application of reSoUr￿s. Including ils Income and expenditure for the yeai then ended". have been properly p￿pa￿ in accordance wrth Unrted Kingdom Generalty Accepted Accounting Practice." and have been prepared in accordance wrth the requirements of the Companies Act 2006. Basis for opinion We conduded our audrt in a¢¢ordan¢e wrth Intemational Standards on Audrting IUKI IISAS IUKII and applicable law. Our responsibilrties under those standards are further described in the Audrtors. responsibilities lor the audit of the finan¢i21 statements section of our report. We are Independent of the chantable company In accordance th the ethical requirements that afe relevant to our audrt of the financial statements in the United Kingdom. Including the Financial Reporting Council's Eth￿al Standard. and we have fu￿illed our other ethical responsibilities In accordance wth these requirements. We believe thal the audrt eviden￿ we have obtained is sufficient and appropriate to provide a basis for our OPLnLOn. Conclusions relating to going concom In audrting the financial slalement5. we have condLKJed that the Govemors. use of the going concern basis of accounting In the preparation of the financial statements is appropriate. Based on the work we have perfom)ed. we have not Identrfied any material uncertainties relating to events or conditions that indwidualty or collectwety. may casl signth¢ant doubt on the charitable ¢ompany's ability lo continue as a going concern lor a period of at least iwefve months from when the financial 5talemenls are aulhorised for issue. Our responsibilrtFes and the respon5ibililies of the Govemor5 ￿th respect lo going con￿rn aTe descnbed in the relevant sections of this report. Page 11 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA cornpany limited by guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF STAFFORO INDEPENDENT GFiAMMAR SCHOOL ICONTINUED) Other information The other Informal￿n comprises the Informalion induded in the Annual Report other than the financial statements and our AuditOfS' report thereon. The Govemois are responsible for the other Infomation contained within the Annual Report. Our opinion on the financial ststements does nol cover the other Information and, except to the extent otherwise explicilty stated In our report. we do not express any fomi of assurance conclusion thereon. Our responsibility Is to read the other Infomialion and. In doing so. consider whether the other Inlomialion Is materially Inconsislenl wrth the financial statements or our knowledge obtained In the course of the audit, or otherwise appears lo be malerialty rn15slaled. 11 we ￿￿entIty such material Inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misslatemenl In the financial slalements themselves. If. based on the work we have performed, we Conclude Ihal there Is a material misstalemenl of this other inlorrnal￿n. we are required lo report that fact. We have nothing to Teport in this regard. Oplnlon on other matters prnscrlbtd by the compani￿ Act 2006 In our opinion. based on the work undertaken In the eourse of the audit the infomation given In the Governors. Report Including the Strategic Report lor the financial year for which the financial stalements are prepared Is consislent with the finaneial slalemenls. the Governors. Report and the Strategic Report have been prepared In accordance with applicable legal requirements. Matters on which wè are rtquired to report by exception In the light ol our knowledge and understanding ol the chanlable company and ils environment obtained in the course ol the audrt we have not ￿entffjled malenal misslalements In the Governors. Report including the Strategic Report. We have nothing lo report in respect of the Idltywng matters In relation lo which Companies Act 2006 requires us lo report lo you rf. in our opinion". adequate accounting records have not been kept. or retums adequate for our audit have not been received fTom branches not visrted by us, or the financial statements are not in agreement wrth the accounting records and returns.. or certain dis¢losur6s ol Governors. remuneration specrfied by law are not made". or we have not received all the snlormalK)n and explanalions we iequife for oui audst. Page 12 STAFFORD INDEPENDENT GRAMMAR SCHOOL IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF STAFFORD INDEPENDENT GRAMMAR SCHOOL ICONTINUEDI Responsibilities of tTUStees As explained more fulty In the Governo￿. responsibililies statement. the Governors (who are also the directors of the charitable company for the purposes of company are responsible for the preparation of the f1nancial slalemenls and for being satisfied that they give a true and fail view. and for such inletnal control as the Governors determine Is necessary lo enable the preparation of financial statements that are free from malenal misstatement. whether due to fraud or error. In preparsng the financ￿1 51alemenls. Ihe Govemois are re¥)onsible for assessing the charitable companls ability to continue as a going concem disclosing as applicable. matte15 ielaled to going concem and using the going con￿￿ basis of accounting unless the Govemors erther intend to liquidate the charitable company or lo cease operations. or have no realist￿ altemalive but to do so. AuditOTS' responsibilities for the audit of the financial statements Oijr objectives are lo obtain reasor%able assurance about whether the financial slalemen15 as a whole are free from matenal misstatement. whether due to fraud or error. and to issue an Auditors. report that Includes our opinion. Reasonable assurance Is a h￿9h level of assurance. but Is not a guafantee that an audrt conducted In ac¢ordan¢e wf(h ISAS IUKI wll a￿vayS detect a matenal misslatemenl when rt exists. Misstatefnenls can arise from fraud or error and are considered material If Individualty or in the aggfegate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these finanual stalemenls. Irregulanties. including fraud, are instsnce5 of non