## 



## 

## 

|||||||Page|
|---|---|---|---|---|---|---|
|Reference and administrative|||details|ofthe charity, Its Governors|and advisers|1-2|
|Governors'|report|||||3-12|
|Independent|auditor's|report|on the|financial statements||13-16|
|Consolidated|statement|offinancial||activities||17-18|
|Consolidated|balance sheet|||||19-20|
|Charity balance sheet||||||21 - 22|
|Consolidated|statement|ofcash flows||||23|
|Notes to the|financial statements|||||24-63|





## 



## 

|independent|auditor|Crowe U.K.|LLP|||
|---|---|---|---|---|---|
|||Fourth Floor||||
|||StJames House||||
|||St James Square||||
|||Cheltenham||||
|||GL50 3PR||||
|Bankers||Handelsbanken||Pic||
|||1st Floor, Willow||House West||
|||Shrewsbury|Business Park|||
|||Shrews<br>bury||||
|||SY2 6LG||||
|||Lloyds Bank|Pic|||
|||1 Pride<br>Hill||||
|||Shrewsbury||||
|||SY1 1DG||||
|||Barcalys Bank UK Pic||||
|||44/46 Castle|Street|||
|||Shrewsbury||||
|||SY1 1BU||||
|Investment|Advisors|Sarasin<br>& Partners|||LLP|
|||Juxon House||||
|||100St. Paul's Churchyard||||
|||London||||
|||EC2M 6BU||||





## 


## 

## 

## 

## 

## 

## 

## 



## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 



## 

## 

## 

## 

## 



## 

## 



## 

## 

## 

## 



## 

## 

## 



## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 



## 

## 



## 

## 

||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|funds|
|||Note|2022<br>E|2022<br>E|2022<br>6|2022|2021<br>f|
|Income and||||||||
|endowments<br>from:||||||||
|Grants and donations||3|28,469|689,988||718,457|1,411,066|
|Charitable<br>activities:||||||||
|School fees||4|29,135,472|||29,136,472|26,325,672|
|Other educational||||||||
|income||5|343,919|||343,919|332,256|
|Other ancillary<br>trading||||||||
|income||5|92,786|||92,786|611|
|Other trading<br>activities||6|1,968,956|||1,968,956|1,382,044|
|Investments||7|119,462|37,602|2,443|159,507|106,773|
|Other income||8|||||1,285,743|
|Total income and||||||||
|endowments|||31,689,064|727,590|2,443|32,419,097|30,844,165|
|Expenditure<br>on:||||||||
|Raising funds;||||||||
|Trading<br>activities||9|1,165,251|||1,165,251|722,436|
|Fundraising<br>costs||9|335,809|||335,809|269,874|
|Financing costs||10|208,291|||208,291|325,118|
|Charitable<br>activities:||11||||||
|Education<br>and grant||||||||
|making|||28,459,990|716,025||29,176,016|26,957,404|
|Total expenditure|||30,169,341|716,025||30,885366|28 274 832|
|Net income before||||||||
|net gains/(losses)|on|||||||
|investments|||1,519,723|11,565|2,443|1,533,731|2,569,333|
|Net (losses)/gains|on|||||||
|investments|||(152,998)||(77,680)|(230,678)|721,784|
|Net income before||||||||
|transfers|||1,366,725|11,565|(75,237)|1,303,053|3,291,117|
|Transfers<br>between||||||||
|funds||22|26,895|(26,895)||||
|Net movement<br>In||||||||
|funds before other||||||||
|recognised<br>gains||||||||
|carried forward|||1,393,620|(15,330)|(75,237)|1,303,053|3,291,117|





## 

## 

||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|funds|
|||Note|2022|2022|2022|2022<br>6|2021f|
|Net movement|In|||||||
|funds before|other|||||||
|recognised||||||||
|gains/(losses)||||||||
|brought forward|||1,393,620|(15,330)|(75,237)|1,303,053|3,291,117|
|Actuarial<br>gains|on|||||||
|defined<br>benefit||||||||
|pension<br>schemes||27|1,904,000|||1,904,000|773,000|
|Net movement|in|||||||
|funds|||3,297,620|(15,330)|(75,237)|3,207,053|4,064,117|
|Reconciliation|of|||||||
|funds:||||||||
|Total funds brought||||||||
|forward|||40,527,282|798,172|1,513,959|42,839,413|38,775,296|
|Net movement|in funds||3,297,620|(15,330)|(75,237)|3,207,053|4,064,117|
|Total funds carried||||||||
|forward|||43,824,902|782,842|1,438,722|46,046,466|42,839,413|





## 

|||||CONSOLIDATED|BALANCE SHEET|||
|---|---|---|---|---|---|---|---|
|||||AS AT 31|JULY 2022|||
||||||2022||2021|
|||||Note|6||6|
|Fixed assets||||||||
|Tangible assets||||14|43,749,295||41,108,674|
|Investments||||15|8,163,967||7,462,922|
||||||61,913,262||48,571,596|
|Current assets||||||||
|Stocks||||16|275,643|291,891||
|Debtors||||17|1,978,173|1,941,495||
|Cash at bank and|in hand||||6,956,037|8,266,938||
||||||9,209,853|10,490,324||
|Creditors: amounts|falling||due within|one||||
|year||||18|(7,430,777)|(6,411,746)||
|Net current assets|||||1,779,076||4,078,678|
|Total assets less|current||liabilities||53,692,338||52,650,174|
|Creditors:<br>amounts|falling||due after more|||||
|than one year||||19|(7,645,872)||(7,812,761)|
|Net assets excluding||pension asset I||||||
|liability|||||46,046,466||44,837,413|
|Defined benefit pension||scheme asset I||||||
|liability||||27|||(1,998,000)|
|Total net assets|||||46,046,466||42,839,413|





## 

## 

||||||2022||2021|
|---|---|---|---|---|---|---|---|
||||Note||6|||
|Charity funds||||||||
|Endowment<br>funds|||22||1,438,722||1,613,969|
|Restricted<br>funds|||22||782,842||798,172|
|Unrestricted<br>funds||||||||
|Unrestricted<br>funds|excluding|pension asset|22|43,824,902||42,625,282||
|Pension reserve|||22|||(1,998,000)||
|Total unrestricted|funds||22||43,824,902||40,527,282|
|Total funds|||||46,046,466||42,839,413|




## 




## 

||||CHARITY BALANCE SHEET|CHARITY BALANCE SHEET|||
|---|---|---|---|---|---|---|
||||AS AT 31JULY 2022||||
||||Note|2022f||2021<br>5|
|Fixed assets|||||||
|Tangible assets|||14|43,738,583||41,101,751|
|Investments|||15|8,163,967||7,462,922|
|||||61,902,650||48,564,673|
|Current assets|||||||
|Stocks|||16|65,120|64,165||
|Debtors|||17|2,839,351|2,194,012||
|Cash at bank and|in hand|||6,055,384|8,094,321||
|||||8,959,855|10,352,498||
|Creditors: amounts|falling due within one||||||
|year|||18|(7,179,148)|(6,250,311)||
|Net current assets||||1,780,707||4,102,187|
|Total assets less|current liabilities|||53,683,257||52,666,860|
|Creditors: amounts|falling due after more||||||
|than one year|||19|(7,646,872)||(7,812,761)|
|Net assets excluding||pension assets|||||
|liability||||46,037,385||44,854,099|
|Defined benefit pension||scheme asset I|||||
|liability|||27|||(1,998,000)|
|Total net assets||||46,037,385||42,856,099|





## 

## 

|||||Note||2022f||2021|
|---|---|---|---|---|---|---|---|---|
|Charity funds|||||||||
|Endowment<br>funds||||22||1/38,722||1,513,959|
|Restricted<br>funds||||22||782,842||798,172|
|Unrestricted<br>funds|||||||||
|Unrestricted<br>funds|excluding|pension asset|/||||||
|liability||||22|43,815,821||42,541,968||
|Pension<br>reserve||||22|||(1,998,000)||
|Total unrestricted|funds|||22||43,815,821||40,543,968|
|Total funds||||||46,037,385||42,856,099|







## 

## 

||||||2022<br>5|2021<br>f|
|---|---|---|---|---|---|---|
|Cash tlows from operating<br>activities|||||||
|Net cash provided<br>by operating<br>activities||||23|6,215,606|6,873,926|
|Cash flows from Investing|activities||||||
|Dividends<br>and interest<br>from|investments||||169,507|106,773|
|Proceeds from the sale oftangible<br>fixed||assets|||35,075|910,466|
|Purchase<br>oftangible<br>fixed assets<br>Proceeds from sale of investments|||||(5,128,378)|(1,357,246)<br>3,418,774|
|Purchase<br>of investments|||||(910,854)|(4,574,637)|
|Net cash used in Investing|activities||||(5,844,650)|(1,495,870)|
|Cash flows from financing|activities||||||
|Repayments<br>of borrowing|||||(686,072)|(1,045,299)|
|Interest<br>paid on borrowings|||||(64,916)|(103,332)|
|Net cash (used)/provided|in financing|activities|||(650,988)|(1,148,631)|
|Change<br>ln cash and cash|equivalents|In|the year||(1,280,032)|3,229,424|
|Cash and cash equivalents|at the beginning||ofthe year||8,260,611|5,031,187|
|Cash and cash equivalents|at the end|of|the year|24|6,980,579|8,260,611|
|The notes on pages 24 to 63 form part of||these financial statements|||||





## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 

## 

## 





## 

## 

## 





## 

## 

## 

## 

## 



## 

## 



## 

## 

|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2022<br>6|2022<br>f|2022<br>6|2021f|
|Donations||||28,469|689,988|718,457|1,411,066|
|Total 2022||||28,469|689,988|718,457|1,411,066|
|Total 2021||||700,043|711,023|1,411,066||
|Charitable|activities|- School fees receivable||||||
|||||||2022|2021|
|The School's fee income comprised:||||||||
|Gross fees||||||33,211,874|30,054,761|
|Less: Total|bursaries,|scholarships|and allowances|||(4,720,015)|(4,234,576)|
|||||||28,491,859|26,820,175|
|Add back bursaries,||scholarships|and allowances|paid for by|Restricted|||
|Funds||||||643,613|505,497|
|||||||29,135,472|26,325,672|





## 

## 

|6.|Charitable<br>activities - Other|Charitable<br>activities - Other|Charitable<br>activities - Other|income|||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||6|E|
||Other educational<br>charitable|||Income|||
||Entrance and|registration|fees||108,044|127,793|
||Courses and|sub-lettings|||174,061|145,527|
||Royalties received||||61,814|68,936|
||||||343,919|332,256|
||||||2022|2021|
||||||6|5|
||Other ancillary<br>activities||||||
||Commissions|received|||4,746|611|
||School trips||||87,840||
||Late payment|surcharges|||200||
||||||92,786|611|
|6.|Other trading|activities|||||
||||||2022|2021|
||||||6||
||Trading activities SSEL||||996,844|938,212|
||Trading activities SSTCL||||973,112|443,832|
||||||1,968,956|1,382,044|





## 

## 

## 

## 

||2022|2021|
|---|---|---|
||6||
|Turnover|995,665|938,119|
|Administration|(384,152)|(254,091)|
|Operating<br>(loss)/profit|611,613|684,028|
|Interest payable|(1,161)|(1,514)|
|interest receivable|179|93|
|(Loss)/profit<br>for the year|610,531|682,607|
|Gift aid payment|(612,071)|(682,607)|
|Retained loss|(1,540)||





## 

## 

## 

## 

## 

|||2022<br>K|2021f|
|---|---|---|---|
|Turnover||972,904|433,614|
|Cost ofsales||(522,837)|(251,188)|
|Gross profit||450,067|182,426|
|Administration||(257,101)|(215,643)|
|Other operating|income||10,126|
|Operating<br>profit/(loss)||192,966|(23,091)|
|Interest receivable||208|92|
|Profit/(loss)<br>for|the year|193,174|(22,999)|
|Gift aid payment||(165,867)||
|Retained<br>profit/(loss)||27,307|(22,999)|





## 

## 

## 

||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|
||funds|funds|funds|funds|funds|
||2022|2022|2022|2022|2021|
||6|F|5|5||
|Interest|5,812|||5,812|7,383|
|Income from listed investments|113,650|37,602|2,443|153,695|99,390|
|Total 2022|119,462|37,602|2,443|159,507|106,773|
|Total 2021|68,263|36,161|2,349|106,773||



|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022<br>6|2022<br>5|2021f|
|Government|grant|||400,538|
|Profit on the|sale offixed assets|||885,205|
|Total 2022||||1,285,743|
|Total 2021||1,285,743|1,285,743||





## 

## 

## 

## 

||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2022|2022|2021|
||||8|F||
|Other costs|||721,075|721,075|331,377|
|Staff costs|||441,210|441,210|389,050|
|Depreciaiion|||2,966|2,966|2,009|
|Total 2022|||1,165,251|1,165,251|722,436|
|Tolel 2021|||722,436|722,436||
|Fundraislng|for voluntary|resources||||
||||Unrestricted|Total|Total|
||||funds|funds|funds|
||||2022<br>8|2022<br>E|2021f|
|Other costs|||166,208|166,208|104,655|
|Staff costs|||169,601|169,601|165,219|
|Total 2022|||335,809|335,809|269,874|
|Totel 2021|||269,874|269,874||





## 

## 

## 

|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2022<br>6|2022<br>6|2021f|
|Fees in advance financing||cost||122,461|122,461|91,595|
|Bad debts and debt|collection|||(41,016)|(41,016)|54,867|
|Bank and investment|manager||charges|32,930|32,930|38,324|
|Loan interest||||64,916|64,916|103,332|
|Pension scheme financing||cost||29,000|29,000|37,000|
|Total 2022||||208,291|208,291|325,118|
|Total 2021||||325,118|325,118||



## 

## 

## 

||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|
||||funds|funds|Total|Total|
||||2022<br>6|2022f|2022|2021f|
|Teaching|||13,543,414||13,543,414|12,366,406|
|Welfare|||4,413,946||4,413,946|4,008,013|
|Premises|||6,846,548||6,846,548|6,709,697|
|Support|and governance||3,656,082||3,656,082|3,315,877|
|Grants, awards||and prizes||716,025|716,025|557,411|
|Total 2022|||28,459,990|716,025|29,176,015|26,957,404|
|Total 2021|||26,399,993|557,411|26,957,404||





## 

## 

||||||Staff costs|Depreciation|Other costs|Total|Tots/|
|---|---|---|---|---|---|---|---|---|---|
||||||2022|2022<br>6|2022|2022<br>F|2021f|
|Teaching|||||11,869,810||1,673,804|13,543,414|12,366,406|
|Welfare|||||1,112,149||3,301,797|4,413,946|4,008,013|
|Premises|||||2,173,558|2,435,982|2,237,008|6,846,548|6,709,697|
|Support and|governance||||2,203,177||1,452,905|3,656,082|3,315,877|
|Grants, awards||and prizes|||||716,025|716,025|557,411|
|Total 2022|||||17,358,494|2,435,982|9,381,539|29,176,015|26,957,404|
|Total 202f|||||16,506,059|2,645,472|7,906,873|26,957,404||
|Grants, awards||and prizes||||||||
|||||||||2022<br>6|2021f|
|From restricted||funds:||||||||
|Bursaries and|scholarships|||||||643,613|505,497|
|Prizes and awards||||||||72,412|51,914|
|||||||||716,025|557,411|
|Governance|included|||In support costs:||||||
|||||||||2022|2021|
|||||||||6|5|
|Remuneration|paid||to auditor for audit services|||||45,300|42,360|
|Remuneration|paid||to auditor for non- audit services|||||20,550|15,252|
|Other governance|||costs|||||100,060|135,303|
|||||||||165,910|192,915|





## 

## 

## 

## 

|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2022f|2021f|2022|2021f|
|Wages and|salaries|14,210,323|13,559,480|13,833,728|13,225,958|
|Social security costs||1,494,732|1,377,142|1,455,921|1,344,618|
|Other pension costs (Note 27)||2,273,883|2,146,137|2,248,079|2,123,133|
|||17,978,938|17,082,759|17,537,728|16,693,709|
|Capitalised|labour|(9,633)|(22,431)|(9,633)|(22,431)|
|||17,969,305|17,060,328|17,628,095|16,671,278|



||Group|Group|
|---|---|---|
||2022|2021|
||No.|No.|
|Teaching|236|233|
|Welfare|59|56|
|Premises|120|123|
|Support|70|68|
|Other activities|11|12|
||496|492|





## 

## 

## 

||||Group|Group|
|---|---|---|---|---|
||||2022|2021|
||||No.|No.|
|In the band|660,001 - 670,000||27|31|
|In the band|670,001 - 680,000||11|12|
|In the band|680,001-690,000||3|1|
|In the band|690,001 - 6100,000||3|2|
|In the band|6130,001 - 6140,000|||1|
|In the band|6140,001 -f150,000||2|1|
|In the band|6210,001 - 6220,000||1||
|In the band|6240,001 -6250,000||||
|Aggregate|employee<br>benefits ofkey management|personnel|1,306,981|1,531,074|





|||||NOTES|TO THE FINANCIAL STATEMENTS|
|---|---|---|---|---|---|
|||||FOR|THE YEAR ENDED 31 JULY 2022|
|14.|Tangible|fixed|assets|||
||Group|||||



||Assets<br>In|Freehold|Furniture,||Ground||
|---|---|---|---|---|---|---|
||course of|Land &|Fixtures||Machines||
||construction|Buildings<br>f|and fittings<br>E|Boats<br>f|&Vehicles<br>6|Total<br>f|
|Cost or valuation|||||||
|At 1 August 2021|640,138|57,002,672|10,708,804|1,046,968|1,300,783|70,699,365|
|Additions|3,876,883|391,753|653,894|80,369|226,479|5,128,378|
|Disposals|||||(378,630)|(378,630)|
|Transfers<br>between|||||||
|classes|(3,138,561)|3,138,661|||||
|At 31 July 2022|1,377,460|60,632,986|11,262,698|1,127,337|1,148,632|75,449,113|
|Depreciadon|||||||
|At 1 August 2021||19,340,840|8,609,379|740,864|899,608|29,590,691|
|Charge for the year||1,707,798|569,143|63,562|98,445|2,438,948|
|On disposals|||||(329,821)|(329,821)|
|At 31 July 2022||21,048,638|9,178,522|804,426|668,232|31,699,818|
|Net book value|||||||
|At 31 July 2022|1,377,460|39,484,348|2,084,176|322,911|480,400|43,749,295|
|At 31 July 2021|640,138|37,661,832|2,099,425|306,104|401,176|41,108,674|





## 

||Assets<br>In|Freehold|Furniture,||Ground||
|---|---|---|---|---|---|---|
||course of|Land 8|Fixtures<br>&||Machines||
||construction<br>6|Buildings<br>6|fittings|Boats<br>6|&Vehicles|Total|
|Cost or valuation|||||||
|At 1 August 2021|640,138|57,002,672|10,694,880|1,046,968|1,300,783|70,686,441|
|Additions|3,875,883|391,763|547,139|80,369|226,479|5,121,623|
|Disposals|||||(378,630)|(378,630)|
|Transfers<br>between|||||||
|classes|(3,138,561)|3,138,561|||||
|At 31July 2022|1,377,460|60,632,986|11,242,019|1,127,337|1,148,632|76,428,434|
|Depreciation|||||||
|At 1 August 2021||19,340,840|8,602,378|740,864|899,608|29,583,690|
|Charge for the year||1,707,798|566,177|63,662|98,445|2,435,982|
|On disposals|||||(329,821)|(329,821)|
|At 31 July 2022||21,048,638|9,168,565|804,426|668,232|31,689,861|
|Net book value|||||||
|At 31 July 2022|1,377,460|39,484,348|2,073,464|322,911|480,400|43,738,583|
|At 31 July 2021|640,138|37,661,832|2,092,502|306,104|401,175|41,101,751|





## 

## 

## 

||||Designated|Endowed|Fees in||
|---|---|---|---|---|---|---|
||Group and charity||Fund<br>K|Funds|Advancef|Total<br>F|
||Cost or valuation||||||
||At 1 August 2021||2,465,209|1,490,642|3,507,171|7,462,922|
||Additions||910,854|||910,854|
|.|Net investment|losses|(152,869)|(77,739)|(70)|(230,678)|
||Movements<br>in cash deposits||22,222|1,300|(2,653)|20,869|
||At 31 July 2022||3,245,416|1,414,103|3,504,448|8,163,967|
||Net book value||||||
||At 31 July 2022||3,245,416|1,414,103|3,504,448|8,163,967|
||At 31 July 2021||2,465,209|1,490,542|3,507,171|7,462,922|



|||2022<br>5|2021f|
|---|---|---|---|
|Actively managed|securities|3,604,448|3,504,519|
|Quoted stocks||4,634,977|3,954,730|
|Cash||24,542|3,673|
|Total market value||8,163,967|7,462,922|





## 

## 

## 

## 

||2022f|2021f|
|---|---|---|
|Link Fund Solutions - Ruffer Total Return|1,678,172|1,803,162|
|Link Fund Solutions - Trojan inc|1,826,246|1,701,356|
|Sarasin Endowments<br>Fund Class A inc|4,633,793|3,953,396|



## 

||||||Group<br>2022f|Group<br>2021f|Charity<br>2022f|Charily<br>2021f|
|---|---|---|---|---|---|---|---|---|
|Goods|for|resale|and|consumables|275,643|291,891|65,120|64,165|



## 

|||Group<br>2022<br>6|Group<br>2021<br>f|Charity<br>2022|Charity<br>2021<br>f|
|---|---|---|---|---|---|
|School fees||719,951|563,854|719,951|563,854|
|Amounts<br>owed by group undertakings||||1,655,591|941,120|
|Other debtors||960,810|1,123,749|168,074|447,326|
|Prepayments|and accrued income|297,412|253,892|295,735|241,712|
|||1,978,173|1,941,495|2,839,351|2,194,012|





## 

## 

|||Group|Group|Charity|Cherty|
|---|---|---|---|---|---|
|||2022<br>E|2021<br>f|2022<br>F|2021<br>f|
|Trade creditors||916,577|598,362|907,657|692,556|
|Other taxation and social security||434,048|369,610|392,350|356,133|
|Fee deposits||952,855|860,844|952,856|860,844|
|Fees in advance (see|note 20)|2,165,483|2,492,062|2,166,483|2,492,062|
|Other cr'editors||1,601,071|1,087,851|1,647,027|1,068,614|
|Accruals and deferred|income|907,942|416,944|759,975|294,029|
|Other loan||65,000|65,000|65,000|65,000|
|Term loan<br>1|||146,049||146,049|
|Term loan 2||388,801|375,024|388,801|375,024|
|||7,430,777|6,411,746|7,179,148|6,250,311|



## 

## 

||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2022<br>F|2021f|2022<br>6|2021<br>F|
|Loan|from Shrewsbury|School Foundation|1,296,046|1,296,046|1,296,046|1,296,046|
|Fess|deposits||2,885,525|2,765,080|2,885,525|2,765,080|
|Fees|in advance (see|note 20)|1,756,505|1,590,038|1,756,505|1,590,038|
|Other|loan||563,334|628,334|663,334|628,334|
|Term|loan 2||1,144,462|1,533,263|1,144,462|1,533,263|
||||7,645,872|7,812,761|7,645,872|7,812,761|





## 

## 

## 


## 




## 

## 

## 

|||2022|2021|
|---|---|---|---|
|||5|5|
|Within|1-2years|837,143|707,643|
|Within|2-5 years|767,103|882,495|
|Over|5years|162,259||
|||1,756,505|1,690,038|
|Within|1 year|2,166,483|2,492,062|
|||3,921,988|4,082,100|



|||||2022|2021|
|---|---|---|---|---|---|
|Balance|at 1 August 2020|||4,082,100|2,832,013|
|New contracts||||3,159,485|3,346,009|
|Amounts|accrued|to contracts||122,906|91,595|
|||||7,364,491|6,269,617|
|Amounts|utilised|in payment|offees to the School|(3,442,603)|(2,187,517)|
|Balance|at 31 July 2021|||3,921,988|4,082,100|





## 

## 

## 

|Analysis of n|et assets between funds -|current year||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|
|||funds|funds|funds|funds|
|||2022f|2022<br>6|2022<br>6|2022<br>6|
|Tangible fixed|assets|43,749,295|||43,749,295|
|Fixed asset investments||6,749,864||1,414,103|8,163,967|
|Current assets||8,402,392|782,842|24,619|9,209,853|
|Creditors due|within one year|(7,430,777)|||(7,430,777)|
|Creditors due|in more than one year|(7,645,872)|||(7,645,872)|
|Total||43,824,902|782,842|1,438,722|46,046,466|



|Analysis|of net assets|of net assets|between funds - prior year|between funds - prior year||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total|
|||||funds|funds|funds|funds|
|||||2021f|2021|2021f|2021<br>E|
|Tangible|fixed|assets||41,108,674|||41,108,674|
|Fixed asset investments||||6,972,380||1,490,542|7,462,922|
|Current assets||||9,668,735|798,172|23,417|10,490,324|
|Creditors|due|within one year||(6,411,746)|||(6,411,746)|
|Creditors|due|in more than one year||(7,812,761)|||(7,812,761)|
|Provisions|for|liabilities|and charges|(1,998,000)|||(1,998,000)|
|Total||||40,527,282|798,172|1,513,959|42,839,413|





## 

|||||NOTES|NOTES|TO|THE FINANCIAL STATEMENTS|THE FINANCIAL STATEMENTS|THE FINANCIAL STATEMENTS||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||FOR||THE YEAR||ENDED 31 JULY|2022||||
|22.|Statement offunds||||||||||||
||Statement offunds||- current year||||||||||
|||Balance||at 1|||||Transfers|Gains/|Balance at||
|||August||2021||Income||Expenditure|In/(out)|(Losses)|31July 2022||
||||||||6|6|F|||6|
||Unrestricted||||||||||||
||funds||||||||||||
||Designated||||||||||||
||funds||||||||||||
||Designated||||||||||||
||funds||2,749,870|||78,528|||569,865|(152,870)|3,245,393||
||Unrestricted||||||||||||
||funds||||||||||||
||General funds|39,792,098|||29,641,580|||(28,320,162)|(542,970)|(128)|40,570,428||
||Subsidiary||||||||||||
||trading||(16,686)|||1,968,956||(1,943,189)|||9,081||
||Pension scheme||||||||||||
||funding<br>deficit||(1,998,000)|||||94,000||1,904,000|||
|||37,777,412|||31,610,536|||(30,169,341)|(542,970)|1,903,872|40,579,509||
||Total||||||||||||
||Unrestricted||||||||||||
||funds|40,527,282|||31,689,064|||(30,169,341)|26,895|1,751,002|43,824,902||
||Endowment||||||||||||
||funds||||||||||||
||Capital||1,358,862|||||||(72,941)|1,285,921||
||Re-endowment||||||||||||
||fund||154,597||||2,443|||(4,739)|152,301||
||Hentschrew||||||||||||
||Prize Fund|||600|||||||500||
||||1,513,959||||2,443|||(77,680)|1,438,722||





## 

## 

|22.|Statement offunds (continued)|Statement offunds (continued)|Statement offunds (continued)|Statement offunds (continued)||||||
|---|---|---|---|---|---|---|---|---|---|
|||Balance at 1<br>August 2021<br>8|||Income<br>6|Expenditure<br>f.|Transfers<br>in/(out)f|Gains/<br>(Losses)<br>6|Balance at<br>31July 2022|
||Restricted funds|||||||||
||Shrewsbury|||||||||
||School|||||||||
||Foundation||50,989||634,162|(644,997)|(6,909)||33,245|
||Guyer Family|||||||||
||Prize||180||40|(40)|||180|
||Hentschrew|Prize|80||||||80|
||Darwin|||||||||
||Scholarship||7,212||||||7,212|
||Hargreaves|||||||||
||Legacy||500||||||500|
||Salopian<br>Club||||19,175|(19,175)||||
||Duffell Prize|Fund|4,940||||||4,940|
||Shrewsbury|||||||||
||School Parents'|||||||||
||Association||||902|(902)||||
||Consolidated|||||||||
||Fund:|||||||||
||Unappropriated|||||||||
||income|626,504|||'37,602|(14,710)|||649,396|
||Art Fund<br>DFE Grant-||2,000||||||2,000|
||Cross<br>External|||||||||
||Partnership|||||||||
||Grant||19,078|||(19,078)||||
||Gym Fund||1,400|||(1,400)||||
||Taylor Library|||||||||
||Fund||||150|(150)||||
||Bursaries||||15,573|(15,573)||||
||Packwood-|||||||||
||Redevelopment|||||||||
||ofScience|||||||||
||Facilities<br>Packwood-||85,289||||||85,289|
||Boarding House|||||||||
||Upgrade<br>Fund||||19,986||(19,986)|||
|||798,172|||727,690|(716,025)|(26,895)||782,842|
||Total offunds|42,839,413|||32,419,097|(30,885,366)||1,673,322|46,046,466|





## 

## 

## 

|Statement offunds|Statement offunds|(continued)|||||||
|---|---|---|---|---|---|---|---|---|
|Statement offunds||- prior year|||||||
||Balance at||||||||
|||1August||||Transfers|Gainsr|Balance at|
|||2020f|Income<br>f|Expenditvra|f|in/(out)<br>f|(Losses)<br>f|31Ju/y 2021<br>f|
|Unrestricted|||||||||
|funds|||||||||
|Designated|||||||||
|funds|||||||||
|Designated|||||||||
|funds|1,606,097||42,094|||888,164|213,516|2,749,870|
|Unrestricted|||||||||
|funds|||||||||
|General funds|37,896,561||28,670,494|(27,081,985)||(27,271)|334,299|39,792,098|
|Subsidiary|||||||||
|trading||6,313|1,382,044|(722,436)||(682,607)||(16,686)|
|Pension scheme|||||||||
|funding<br>deficit|(2,858,000)|||87,000|||773,000|(1,998,000)|
||35,044,874||30,052,538|(27,717,421)||(709,878)|1,107,299|37,777,412|
|Total|||||||||
|Unrestricted|||||||||
|funds|36,650,971||30,094,632|(27,717,421)||178,286|1,320,814|40,527,282|
|Endowment|||||||||
|funds|||||||||
|Capital|1,195,506||||||163,356|1,358,862|
|Re-endowment|||||||||
|fund||141,634|2,349||||10,614|154,597|
|Hentschrew|||||||||
|Prize Fund||500||||||500|
||1,337,640||2,349||||173,970|1,513,959|





## 

## 

|22.|Statement offunds (continued)|Statement offunds (continued)|Statement offunds (continued)||||||
|---|---|---|---|---|---|---|---|---|
||||Balance at|||Transfers|Gainer|Balance at|
||||1August 2020f|Income<br>f|Expenditure|in/(out)f|(Losses)<br>f|31July 2021<br>f|
||Restricted funds||||||||
||Shrewsbury||||||||
||School||||||||
||Foundation||60,800|664,128|(495,653)|(178,286)||50,989|
||Guyer Family||||||||
||Prize||180||(40)|||180|
||Hentschrew|Prize|80|||||80|
||Darwin||||||||
||Scholarship||7,212|||||7,212|
||Hargreaves||||||||
||Legacy||600|||||500|
||Salopian<br>Club|||16,120|(16,120)||||
||Duffell Prize|Fund|4,940|||||4,940|
||Shrewsbury||||||||
||School Parents'||||||||
||Association|||365|(365)||||
||Consolidated||||||||
||Fund:||||||||
||Unappropriated||||||||
||income||605,431|36,161|(15,088)|||626,504|
||COVID Support||17,956|8,110|(26,066)||||
||Art Fund||2,000|||||2,000|
||DFE Grant-||||||||
||Cross||||||||
||Partnership||||||||
||Grant|||20,000|(922)|||19,078|
||Gym Fund|||1,400||||1,400|
||External||||||||
||Bursaries|||860|(860)||||
||Packwood-||||||||
||Redevelopment||||||||
||ofScience||||||||
||Facilities||85,289|||||86,289|
||Packwood-||||||||
||COVID Support||2,297||(2,297)||||
||||786,685|747,184|(557,411)|(178,286)||798,172|
||Total of funds||38,775,296|30,844,166|(28,274,832)||1,494,784|42,839,413|





## 

## 



## 

## 



## 

## 

## 

## 

||||||Group|Group|
|---|---|---|---|---|---|---|
||||||2022|2021f|
||Net income|for the year (as per Statement||of Financial Activities)|1,303,053|3,291,117|
||Adjustments|for:|||||
||Depreciation|charges|||2,438,948|2,547,472|
||Losses/(gains)<br>on investments||||230,678|(721,784)|
||Dividends<br>and interest from investments||||(159,507)|(106,773)|
||Loss/(profit)|on the sale offixed assets|||13,730|(885,205)|
||Decrease<br>in|stocks|||16,248|18,129|
||Increase<br>in debtors||||(36,678)|(99,422)|
||Increase<br>in creditors||||1,438,218|1,814,059|
||Pension scheme movement||||(94,000)|(87,000)|
||Interest paid|on borrowings|||64,916|103,332|
||Net cash provided<br>by operating||activities||5,215,606|5,873,925|
|24.|Analysis of|cash and cash equivalents|||||
||||||Group|Group|
||||||2022f|2Q21f|
||Cash at bank||||6,956,037|8,256,938|
||Cash held<br>in|investments|||24,542|3,673|
||Total cash and cash equivalents||||6,980,579|8,260,611|





## 

## 

## 

|||||||Other non-||
|---|---|---|---|---|---|---|---|
|||||At 1 August||cash|At 31 July|
|||||2021|Cash flows|changes|2022|
|||||E|6||6|
|Cash|at bank|||8,256,938|(1,300,901)||6,956,037|
|Cash|held|in investments||3,673|20,869||24,542|
|Debt|due|within|1 year|(586,073)|686,073|(453,801)|(453,801)|
|Debt|due|after 1 year||(3,457,643)||453,801|(3,003,842)|
|||||4,216,895|(693,959)||3,622,936|



## 

||||||||||Group|Group|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2022<br>f|2021|
|Contracted|for|but|not|provided|in|these|financial|statements|4,349,740'|2,510,994|





## 

## 



## 

## 




## 

||At 31 July|At 31Ju/y|
|---|---|---|
||2022|2021|
||Years|Years|
|Mortality rates (in years)|||
|-for a male aged 65 now|22.0|22.0|
|- at 65 for a male aged 45 now|23.0|23.0|
|-for a female aged 65 now|24.5|24.4|
|-at 65 fora female aged 45 now|25.6|25.6|



## 

|||||At 31July|At 31July|
|---|---|---|---|---|---|
|||||2022|2021|
|||||F.|5|
|Discount|rate +0.25'/0|||(222,000)|(344,000)|
|RPI rate +0.25'/o||||68,000|104,000|
|DPI rate +0.25'/0||||36,000|37,000|
|Assumed|life expectancy age 65||- increase by 1 year|385,000|280,000|
|The Group's share ofthe assets|||in the scheme was:|||
|||||At 31July|At 31Ju/y|
|||||2022|2021|
|||||6|5|
|Equities||||2,971,000|2,866,000|
|Bonds||||575,000|722,000|
|Property||||1,070,000|879,000|
|Target return||||1,147,000|1,187,000|
|Insurance|annuities|||1,217,000|1,607,000|
|Cash||||112,000|88,000|
|Total fair|value|ofassets||7,092,000|7,349,000|
|The actual return||on scheme assets was 6-17,000 (2021 -F649,000).||||





## 

## 

|The amounts<br>re|cognised<br>in the|Consolidat|ed<br>S|tatement<br>ofF|inanc|ial Activities are as follows:||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
||||||||6|
|Current service|cost- within Schools and||grant|making||28,000|28,000|
|Net interest on pension<br>scheme||liabilities|-within finance charges|||29,000|37,000|
|Total amount recognised<br>in the Consolidated||||Statement|of Financial|||
|Activities||||||67,000|65,000|
|Movements<br>in the present value||ofthe defined||benefit obligation||were as follows:||
|||||||2022|2021|
|||||||E|6|
|Opening<br>defined|benefit obligation|||||9,347,000|9,737,000|
|Contributions<br>by|scheme participants|||||3,000|3,000|
|Actuarial<br>gains||||||(2,133,000)|(211,000)|
|Benefits paid||||||(393,000)|(335,000)|
|Current service|cost|||||28,000|28,000|
|Interest cost||||||137,000|125,000|
|Closing defined|benefit obligation|||||6,989,000|9,347,000|
|Movements<br>in the fair value ofthe Group's|||share of scheme||assets were as follows:|||
|||||||2022<br>6|2021f|
|Opening<br>fair value ofscheme assets||||||7,349,000|6,879,000|
|Interest income||||||108,000|88,000|
|Actuarial<br>(losses)/gains||||||(229,000)|562,000|
|Contributions<br>by|employer|||||161,000|152,000|
|Contributions<br>by|scheme participants|||||3,000|3,000|
|Benefits paid||||||(393,000)|(335,000)|
|Closing fair value ofscheme||assets||||6,989,000|7,349,000|





## 

## 

## 

|||||||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||5|
|Opening|deficit|||||||||||(1,998,000)|(2,868,000)|
|Employer|contributions|||||||||||151,000|152,000|
|Charge recorded<br>in Statement|||||of Financial Activities|||||||(57,000)|(65,000)|
|Actuarial|loss received|||in Statement||of|Financial Activities|||||1,904,000|773,000|
||||||||||||||(1,998,000)|
|Operating|lease commitments|||||||||||||
|At 31 July 2022 the|||Group and the|||charity||had commitments||to make future||minimum<br>lease payments||
|under non-cancellable||||operating|leases||as follows:|||||||
|||||||||||||Group and|Group and|
|||||||||||||Charity|Charity|
|||||||||||||2022|2021|
|||||||||||||6|E|
|Group and Charity|||Amounts||payable:|||||||||
|Within<br>1 year||||||||||||17,337|39,543|
|Between|1 and|5 years||||||||||27,302|41,323|
|||||||||||||44,639|80,866|
|The<br>following||lease||payments|have||been|recognised|as an expense||in|the Statement|of financial|
|activities:||||||||||||||
|||||||||||||Group|Group|
|||||||||||||2022|2021|
|||||||||||||6|5|
|Group and Charity||||||||||||||
|Operating|lease|rentals||||||||||44,056|51,430|



## 

## 

## 



## 

## 

|||||Group|Group|Charity|Cher/ty|
|---|---|---|---|---|---|---|---|
|||||2022<br>6|2021<br>f|2022|2021<br>f|
|Financial|assets|||||||
|Financial|assets|measured|at fair value|||||
|through|income|and expenditure||8,163,967|7,462,922|8,163,967|7,462,922|



|||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|
|||||2022|2021|2022|2021|
|||||||6|E|
|Total investment<br>income||for financial assets||||||
|measured|at fair value|through<br>income and||||||
|expenditure||||169,507|106,773|159,607|106,773|
|Net (gain)/loss<br>on financial assets|||measured|||||
|at fair value through<br>income and|||expenditure|230,678|(721,784)|230,678|(721,784)|
|Impairment|loss /(gains)|on financial assets||||||
|measured|at amortised|cost||(45,423)|44,138|(45,423)|44,138|
|Total interest|expense for financial||liabilities|||||
|held at amortised<br>cost||||64,916|103,332|64,916|103,332|



## 



## 

## 

## 

|||||Unrestricted|Restricted|Endowment|Endowment||
|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|Total funds|
|||||2021|2021||2021|2021|
|||||6||||5|
|Income and endowments:|||||||||
|Grants and donations||||700,043|711,023|||1,411,066|
|Charitable<br>activities:|||||||||
|School fees||||26,325,672||||26,325,672|
|Other educational|income|||332,256||||332,256|
|Other ancillary<br>trading||income||611||||611|
|Other trading<br>activities||||1,382,044||||1,382,044|
|Investments||||68,263|36,161||2,349|106,773|
|Other income||||1,285,743||||1,285,743|
|Total income||||30,094,632|747,184||2,349|30,844,165|
|Expenditure<br>on: Raising funds:|||||||||
|Trading<br>activities||||722,436||||722,436|
|Fundraising<br>costs||||269,874||||269,874|
|Financing<br>costs||||325,118||||325,118|
|Charitable<br>activities:|||||||||
|Education<br>and grant||making||26,399,993|557,411|||26,957,404|
|Total expenditure||||27,717,421|557,411|||28,274,832|
|Net income before|investment||||||||
|gains/(losses)||||2,377,211|189,773||2,349|2,569,333|
|Net gains/(losses)<br>on investments||||547,814|||173,970|721,784|
|Net income before|transfers|||2,925,025|189,773||176,319|3,291,117|
|Transfers<br>between<br>Funds||||178,286|(178,286)||||
|Net Income before|other recognised||gains||||||
|and losses||||3,103,311|11,487||176,319|3,291,117|
|Actuarial<br>(losses)/gains||on defined benefit|||||||
|pension schemes||||773,000||||773,000|
|Net movement<br>In funds||||3,876,311|11,487||. 176,319|4,064,117|
|Reconciliation<br>offunds:|||||||||
|Total funds brought|forward|||36,650,971|786,685|'|1,337,640|38,775,296|
|Total funds carried|forward|||40,527,282|798,172||1,513,959|42,839,413|