Company registration number 07734231 (England and Wales)
WIRRAL GRAMMAR SCHOOL FOR BOYS
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2025
31 August 2025
WIRRAL GRAMMAR SCHOOL FOR BOYS
CONTENTS
Page
Reference and administrative details
1 - 2
Trustees' report
3 - 8
Governance statement
9 - 13
Statement of regularity, propriety and compliance
14
Statement of trustees' responsibilities
15
Independent auditor's report on the financial statements
16 - 19
Independent reporting accountant's report on regularity
20 - 21
Statement of financial activities including income and expenditure account
22 - 23
Balance sheet
24
Statement of cash flows
25
Notes to the financial statements including accounting policies
26 - 45
WIRRAL GRAMMAR SCHOOL FOR BOYS
REFERENCE AND ADMINISTRATIVE DETAILS
- 1 -
Members
C Wright
C Nelson
R Williams
Trustees
Mr S P Ascroft (CEO, Head Teacher and Accounting Officer)
Mr W F Davies
Mr P J Gordon (Chair)
Mr J S Kerr (Appointed 13 February 2025)
Dr K M Noble
Dr G D Patel
Ms A C Williams (Appointed 18 November 2024)
Mrs J Bell (Resigned 19 October 2024)
Mrs S Hodgkinson (Resigned 19 October 2024)
Mrs A Whitehead (Resigned 14 September 2025)
Mr K McCabe (Resigned 16 November 2024)
Mr B Wilson (Resigned 31 August 2025)
Mr A Vickers
Mrs P Reilly (Vice Chair) (Resigned 17 September 2025)
Ms L Higgins (Appointed 4 November 2025)
Mr H Wordsworth (Appointed 1 December 2025)
Senior management team
- CEO, Headteacher & Accounting Officer
S Ascroft
- Senior Deputy Headteacher
A White
- School Business Manager
M Sagar
Company registration number
07734231 (England and Wales)
Principal and registered office
Cross Lane
Bebington
Wirral
Merseyside
CH63 3AQ
Independent auditor
Mitchell Charlesworth (Audit) Limited
24 Nicholas Street
Chester
CH1 2AU
Bankers
Lloyds Bank Plc
355 Woodchurch Road
Prenton
Wirral
Merseyside
CH42 8PE
WIRRAL GRAMMAR SCHOOL FOR BOYS
REFERENCE AND ADMINISTRATIVE DETAILS
- 2 -
Solicitors
Aaron & Partners
Grosvenor Court
Foregate Street
Chester
CH1 1HG
WIRRAL GRAMMAR SCHOOL FOR BOYS
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -

The trustees present their annual report together with the financial statements and auditor's report of the charitable company for the year 1 September 2024 to 31 August 2025. The annual report serves the purposes of both a trustees' report, and a directors' report and strategic report under company law.

The academy trust operates a single academy secondary grammar school of England. It has a pupil capacity of 1,194 and a roll of 1,067 in the school census in May 2025.

Structure, governance and management
Constitution

The academy trust is a company limited by guarantee and an exempt charity. The charitable company's memorandum and articles of association are the primary governing documents of the academy trust.

The charitable company operates as Wirral Grammar School for Boys.

The trustees of Wirral Grammar School for Boys are also the directors of the charitable company for the purposes of company law. Details of the trustees who served during the year, and to the date these financial statements are approved, are included in the Reference and Administrative Details on page 1.

Members' liability

Each member of the charitable company undertakes to contribute to the assets of the charitable company in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £10, for the debts and liabilities contracted before they ceased to be a member.

Trustees' indemnities

In accordance with normal commercial practice and the requirements of the Memorandum of Association Objection, the Academy Trust has arranged for suitable insurance to be put in place to protect trustees. local trustees and officers from claims arising due to negligent acts, errors or omissions occurring on Academy business.

Method of recruitment and appointment or election of trustees

Trustees consist of representatives by election of the Parent body, Staff through election and appointed Trustees reflecting the skills and attributes required to fulfil the requirements of an Academy within the terms of the Funding Agreement and Memorandum and Articles of Association.

Policies and procedures adopted for the induction and training of trustees

All trustees go through an induction process as part of them joining the board.

Organisational structure

The Board of Trustees is made up of 1 4 Trustees and Members (as of 1 September 2024) who are also Directors of the Trust including Headteacher as an ex officio Trustee, Director and Accounting Officer.

The Board of Trustees is supported by one specialist Committee – Audit and has appointed subject area trustees who link to members of the Leadership team.

The Leadership Team includes the Headteacher (Accounting Officer), a Senior Deputy Headteacher, one Deputy Headteacher, two assistant Headteachers and one School Business and Operations Manager. The Leadership Team control the Academy at an executive level implementing the policies agreed by Trustees and reporting back upon them.

WIRRAL GRAMMAR SCHOOL FOR BOYS
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -
Arrangements for setting pay and remuneration of key management personnel

Pay ranges for the leadership team are as per the pay policy and reflect the school range as determined by the DfE.

Determination of Headteacher pay range -Grade 7 school

- Headteacher L 29-L3 5

- Deputy Headteache r L21-24

- Assistant Headteacher L14-18

- Heads of Faculty L7-L11

Trade union facility time
Relevant union officials
Number of employees who were relevant union officials during the relevant period
3
Full-time equivalent employee number
2.60
Percentage of time spent on facility time
Percentage of time
Number of employees
0%
-
1%-50%
3
51%-99%
-
100%
-
Percentage of pay bill spent on facility time
Total cost of facility time
-
Total pay bill
5,720,000
Percentage of the total pay bill spent on facilty time
-
Paid trade union activities
Time spent on paid trade union activities as a percentage of total paid facility time hours
-
Related parties and other connected charities and organisations

The academy works in partnership on various initiatives including Oddballs. Any transactions with related parties are disclosed in the related party note to the financial statements.

WIRRAL GRAMMAR SCHOOL FOR BOYS
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 5 -
Objectives and activities
Objects and aims

The characteristics of the Academy set down by Section 1 (6) of the Academies Act 2010 are that:

1. a. The school has a curriculum satisfying the requirements of section 78 of the Education Act 2002 (a balanced broadly based curriculum).

2. b. As the school provides secondary education, its curriculum for the secondary education has an emphasis on a particular subject area, or particular subject areas specified in the Agreement, in this case, Business and Enterprise.

3. c. The school provides education for students who are wholly or mainly drawn from the area in which the school is situated.

The Academy is a selective school within the meaning of section 6(40) of the Academies Act 2010, subject only to the provision of Annex E to the Funding Agreement.

At Wirral Grammar School for Boys, we pride ourselves in setting and achieving high standards. We also believe that school life is about a wider participation and this is reflected in an outstanding breadth of extra curricular activities.

Objectives, strategies and activities

OBJECTIVE | ACTIONS
Developing the quality and consistency of teaching and the leadership of learning. | Monitor teaching at a classroom level to ensure it is consistently well-planned, based upon high expectations for all learners, and aligned with curriculum intent. Monitor teaching at a classroom level to ensure it is adapted in lessons and based on evidence to meet the needs of all learned. LG to ensure a clear and shared vision for teaching and learning across each Faculty. Ensure that all roles and responsibilities are clearly defined and understood across each Faculty Have a succession plan / talent development strategy for future leaders.
Deliver and manage a balance budget that has the students, wellbeing and value for money at its core. | Ensure a +2% variance or less between planned budget and actual year-end financial position. To increase a % of total budget allocated to student support, wellbeing initiatives, and direct learning resources. Show value for money efficient by increasing ratio of student academic outcomes to per-student expenditure.
Complete development of the sports campus and community facilities on site. | Complete a full planning application for the sports campus and community facilities. Ensure that the full sales price of £6.14m is achieved. Create practical plans to allow for effective break and lunch play provision on site for all students.
Provide a board, balanced and fully inclusive curriculum and extra-curricular offer. | Review academic outcomes for all cohorts of students to ensure academic inclusivity. Analyse engagement figures for all cohorts in extra-curricular activities. Review policy and process around access to trips and activities for all cohorts.

Public benefit

In setting our objectives and planning our activities, the trustees have carefully considered the Charity Commission’s general guidance on public benefit.

WIRRAL GRAMMAR SCHOOL FOR BOYS
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 6 -
Strategic report
Achievements and performance

Key Stage 4 – please note that there are no progress measures for this cohort

KPI | 2023 | 2024 | 2025
%9-7 | 42.9 | 41.7 | 39.9
%9-5 | 83.8 | 85.8 | 85.1
%9-4 | 93.0 | 95.1 | 94.9

Outcomes would put this school in line or above the other selective boys’ grammar schools in the local context (n = 3). WGSB has similar A8 scores to one other and significantly higher than the other. Entry to the EBacc curriculum is significantly higher than the other schools (96% compared to 82% and 47%). The % of students gaining 5+ in En and Ma is similar to one school and significantly higher than the other. The % of students gaining 4+ in En and Ma is the highest in all schools in the local authority. % achieving Ebacc 4+ and 5 + is significantly higher than the other selective boys’ schools.

Students in sustained education, employment and training after Key Stage 4 is significantly above the national average.

Key Stage 5 – please note the COVID impact, and therefore no use of, progress measures for this cohort

KPI | 2023 | 2024 | 2025
%A*-A | 31 | 28 | 32
%A*-C | 79 | 80 | 79
%A*-E | 99 | 98 | 99

Key performance indicators

Overall improvement on the number of students gaining a pass grade in their subjects and an improvement in the %A/A* grades (this was a target for the academic year). Outcomes at A-level are ‘close to average' and have been for the last 3 years. A-level APS is close to average and has been for the last three years. Applied General APS is significantly positive in comparison to the national average and has been for the last three years.

Students in sustained education, employment and training after Key Stage 5 is significantly above the national average.

Going concern

After making appropriate enquiries, the board of trustees has a reasonable expectation that the academy trust has adequate resources to continue in operational existence for the foreseeable future. For this reason, the board of trustees continues to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the statement of accounting policies.

Financial review

Most of the Trust’s income is obtained from the DfE in the form of grants, the use of which is restricted to particular purposes. The grants received from the DfE during the year and the associated expenditure are shown as restricted funds in the statements of financial activities. The principal accounting policies adopted during the year are detailed in the notes to the financial statements.

During the year ended 31 August 2025, total expenditure of £7,694,000 (2024:£7,148,000) was fully covered by grant funding from the DfE together with other incoming resources. The excess of income over expenditure (excluding actuarial losses on the defined benefit pension scheme) was £96,000 (2024: £876,000 (deficit)).

As at the 31 st August 2025, the net book value of fixed assets was £11,214,000 (2024: £11,496,000), including the value of the land and building which are lease on a 125-year lease. The assets are used exclusively for providing education and the associated support services to the pupils of the academy.

WIRRAL GRAMMAR SCHOOL FOR BOYS
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
Reserves policy

At Wirral Grammar School for Boys our policy aims to ensure that the trust maintains appropriate levels of reserves to support its financial stability, to:

- Meet the needs of its pupils, its educational objectives and long-term sustainability

- Give confidence to the public, stakeholders and regulators that the trust’s finances are being properly managed

- Provide accountability for the trust’s use of public funds

- Provide an indicator of future funding needs and overall financial resilience

The trust has overall reserves of £12,323,000 (2024: £12,118,000), included within is restricted general reserves (excluding pension & fixed asset reserves) of £369,000 (2024: £500,000) and unrestricted reserves of £336,000 (2024: £260,000). The total free reserves (excluding pension & fixed asset reserves) amounts to £705,000 (2024: £760,000).

The pension scheme liability as at 31 st August 2025 was £nil (2024: £138,000). The vast majority of the movement of the pension scheme liability is due to actuarial assumptions and does not have a direct cash impact.

Investment policy

Wirral Grammar School for Boys has cash investments on the Insignis and Flagstone platform. The trustees delegate the day-to-day responsibility and managing of the investments to the School Business Manager and Headteacher.

Investment decisions are supported by cashflow forecasts that reduce the risk of the trust not having the liquidity required to carry out its daily activities. Deposit facilities in use are restricted to dual control for the opening of a deposit, placing funds and withdrawing funds.

Principal risks and uncertainties

We believe that the principal risk that faces the Academy is a fall in the number of boys who undertake the selective 11+ assessment either through choice or falling populations. Out view is that whilst this presents our principal risk it is one that we believe we are well placed to deal with as number have remained healthy during the recent falling numbers scenario experienced in Wirral.

Fundraising

The Academy Trust does not use any external fundraisers. The school undertakes a variety of fundraising activities to support a charity and the Trust itself. All fundraising undertaken during the year was monitored by the Trustees.

Streamlined energy and carbon reporting

As the academy trust is not large, it is not required to disclose any Energy and Carbon Reporting information.

Plans for future periods

The academy is planning major Electrical work in 2025/26 following approval and returns of tenders, which if funding through the CIF Grant.

WIRRAL GRAMMAR SCHOOL FOR BOYS
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 8 -
Auditor

In so far as the trustees are aware:

- there is no relevant audit information of which the charitable company's auditor is unaware; and

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The trustees' report, incorporating a strategic report, was approved by order of the board of trustees, as the company directors, on 16 December 2025 and signed on its behalf by:

Mr S P Ascroft
Mr P J Gordon
CEO, Head Teacher and Accounting Officer
Chair
WIRRAL GRAMMAR SCHOOL FOR BOYS
GOVERNANCE STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2025
- 9 -
Scope of responsibility

As trustees, we acknowledge we have overall responsibility for ensuring that Wirral Grammar School For Boys has an effective and appropriate system of control, financial and otherwise. However, such a system is designed to manage rather than eliminate the risk of failure to achieve business objectives, and can provide only reasonable and not absolute assurance against material misstatement or loss.

As trustees, we have reviewed and taken account of the guidance in the DfE's Governance Guide.

The board of trustees has delegated the day-to-day responsibility to the principal, as accounting officer, for ensuring financial controls conform with the requirements of both propriety and good financial management and in accordance with the requirements and responsibilities assigned to it in the funding agreement between Wirral Grammar School For Boys and the Secretary of State for Education. The accounting officer is also responsible for reporting to the board of trustees any material weaknesses or breakdowns in internal control.

Governance

The information on governance included here supplements that described in the Trustees' Report and in the Statement of Trustees' Responsibilities. The board of trustees has formally met 7 times during the year. Attendance during the year at meetings of the board of trustees was as follows:

Trustees
Meetings attended
Out of possible
Mr S P Ascroft (CEO, Head Teacher and Accounting Officer)
7
7
Mr W F Davies
6
7
Mr P J Gordon (Chair)
7
7
Mr J S Kerr (Appointed 13 February 2025)
2
4
Dr K M Noble
5
7
Dr G D Patel
6
7
Ms A C Williams (Appointed 18 November 2024)
4
5
Mrs J Bell (Resigned 19 October 2024)
0
2
Mrs S Hodgkinson (Resigned 19 October 2024)
0
2
Mrs A Whitehead (Resigned 14 September 2025)
5
7
Mr K McCabe (Resigned 16 November 2024)
1
2
Mr B Wilson (Resigned 31 August 2025)
6
7
Mr A Vickers
7
7
Mrs P Reilly (Vice Chair) (Resigned 17 September 2025)
5
7
Ms L Higgins (Appointed 4 November 2025)
0
0
Mr H Wordsworth (Appointed 1 December 2025)
0
0

There was a number of changes to the board during the year including:-

Trustees who have left during the period 2024-2025

- Jenni Bell

- Sue Hodkinson

- Kevin McCabe

- Ben Wilson

Trustees who have joined during the period 2024-2025

- Alison Williams

- Jason Kerr

WIRRAL GRAMMAR SCHOOL FOR BOYS
GOVERNANCE STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 10 -
Conflicts of interest

Trustees complete a pecuniary interests form annually and there is a standing agenda point requesting that anyone who has a conflict of interests in a board meeting states this.

The board completed a full skills audit and review of its articles of associations to ensure it was fit for purpose.

Governance reviews

The board undertakes a period of continuous review of governance.

The coverage of work of the board includes:

A. Governance and Leadership

- Maintaining a skills-based board with regular self-evaluation and training.

- Succession planning for trustees and senior leadership.

- Annual review of the Scheme of Delegation.

B. Education and Standards

- Reviewing academic outcomes across all schools.

- Monitoring school improvement plans and Ofsted outcomes.

- Ensuring safeguarding compliance and effective behaviour and attendance policies.

- Oversight of inclusion, equality and SEND provision.

C. Finance and Resources

- Setting and reviewing the trust budget, reserves and capital projects.

- Monitoring financial KPIs (e.g. staff costs as % of income, in-year surplus/deficit).

- Reviewing internal audit findings and the Annual Report and Financial Statements.

- Oversight of estates, health and safety, and sustainability.

D. People and Culture

- Approving the school staffing strategies and ensuring staff wellbeing and retention.

- Holding the Headteacher to account through performance appraisal.

- Monitoring workforce data, pay policy, and safer recruitment compliance.

E. Risk and Compliance

- Maintaining a strategic risk register and reviewing it termly.

- Ensuring compliance with statutory policies (safeguarding, health & safety, GDPR, etc.).

- Approving policies and ensuring consistent application.

F. Stakeholder Engagement

- Ensuring the trust engages meaningfully with parents, pupils, and staff.

- Communicating trust performance transparently through reports and websites.

- Building and maintaining relationships with the Regional Director, DfE, and Ofsted.

WIRRAL GRAMMAR SCHOOL FOR BOYS
GOVERNANCE STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 11 -

The audit and risk committee is a sub-committee of the main board of trustees. Its purpose is to:

- Oversee and approve the trust’s programme of internal scrutiny

- Support development and review of the trust’s risk management policy, setting out the framework the trust has adopted for risk management.

- Ensure that risks are being addressed appropriately through internal scrutiny

- Evaluate the adequacy of the trust’s internal control framework, including financial and non-financial controls and management of risks and report this to the trust board

- Assess whether procedures are designed effectively and efficiently, and check whether agreed procedures have been followed

- Review the external auditor’s plan each year

- Review the annual report and accounts

- Review the auditor’s findings and actions taken by the trust’s managers in response to those findings

- Assess the effectiveness and resources of the external auditor

- Produce an annual report of the committee’s conclusions on the above assessment to advise the board of trustees and members, including recommendations on the reappointment or dismissal or retendering of the external auditor, and their remuneration

- Recommend to members the appointment of an external auditor (in accordance with the trust’s articles of association)

- Receive the external auditors’ annual plan, annual report, and accounts and recommend appropriate actions to the trust board in response to the findings

- To review the trust’s insurance cover in compliance with its legal obligations

- To seek assurance that the risks identified are those which may occur, for example, operational risk, financial risk, compliance risk, regulatory and legal risk, major accident

- Review the ratings and responses on the risk register to inform contingency and business continuity planning and the programme of work, ensuring risks and control measures are adequately identified and modified as appropriate

- Provide reports for each full trust board meeting, highlighting emerging risks or significant anomalies at the earliest opportunity

- Agree a programme of work annually to deliver internal scrutiny that provides coverage across the year

- Agree who will perform the work

- Consider reports at each meeting from those carrying out the programme of internal scrutiny and consider progress in addressing recommendations

Attendance at meetings in the year was as follows:

Trustees
Meetings attended
Out of possible
Mr W F Davies
6
7
Dr G D Patel
6
7
Mr B Wilson (Resigned 31 August 2025)
6
7
Mrs P Reilly (Vice Chair) (Resigned 17 September 2025)
5
7
Review of value for money

As accounting officer, the principal has responsibility for ensuring that the academy trust delivers good value in the use of public resources. The accounting officer understands that value for money refers to the educational and wider societal outcomes, as well as estates safety and management, achieved in return for the taxpayer resources received.

WIRRAL GRAMMAR SCHOOL FOR BOYS
GOVERNANCE STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 12 -

The accounting officer considers how the academy trust’s use of its resources has provided good value for money during each academic year, and reports to the board of trustees where value for money can be improved, including the use of benchmarking data or by using a framework where appropriate. The accounting officer for the academy trust has delivered improved value for money during the year by:

- We have completed a full review of all contracts and subscriptions to ensure that we are achieving value for money.

- We have an estates plan and are in the process of creating a 10 year future-proofed estate development plan that will take into consideration future demand, opportunities for growth and related financial plans.

- We have entered a consortium with the 3 other non-faith grammar schools on the Wirral to purchase 11+ testing materials to avoid LA surcharges

The purpose of the system of internal control

The system of internal control is designed to manage risk to a reasonable level rather than to eliminate all risk of failure to achieve policies, aims and objectives. It can therefore only provide reasonable and not absolute assurance of effectiveness. The system of internal control is based on an on-going process designed to identify and prioritise the risks to the achievement of academy trust policies, aims and objectives, to evaluate the likelihood of those risks being realised and the impact should they be realised, and to manage them efficiently, effectively and economically. The system of internal control has been in place in Wirral Grammar School For Boys for the period 1 September 2024 to 31 August 2025 and up to the date of approval of the annual report and financial statements.

Capacity to handle risk

The board of trustees has reviewed the key risks to which the academy trust is exposed together with the operating, financial and compliance controls that have been implemented to mitigate those risks. The board of trustees is of the view that there is a formal ongoing process for identifying, evaluating and managing the academy trust's significant risks that has been in place for the period 1 September 2024 to 31 August 2025 and up to the date of approval of the annual report and financial statements. This process is regularly reviewed by the board of trustees.

The risk and control framework

The academy trust's system of internal control is based on a framework of regular management information and administrative procedures including the segregation of duties and a system of delegation and accountability. In particular, it includes:

- comprehensive budgeting and monitoring systems with an annual budget and periodic financial reports which are reviewed and agreed by the board of trustees;

- regular reviews by the finance and general purposes committee of reports which indicate financial performance against the forecasts and of major purchase plans, capital works and expenditure programmes;

- setting targets to measure financial and other performance;

- clearly defined purchasing (asset purchase or capital investment) guidelines;

- identification and management of risks.

The board of trustees has decided:

To request a SRMA report following its submission of a deficit budget

- to engage Rob O’Halloran as School Resource Management Adviser (SRMA) internal auditor

- t he internal audit service was from the DfE

This option has been chosen because it offered best value for money and the expertise required.

The reviewer's role includes giving advice on financial and other matters and performing a range of checks on the academy trust's financial and other systems. In particular, the checks carried out in the current period included:

- a general review of the Trust’s financial sustainability and ability to recover from the deficit position

WIRRAL GRAMMAR SCHOOL FOR BOYS
GOVERNANCE STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 13 -

T he reviewer reported to the board of trustees, through the sub-committee on the operation of the systems of control and on the discharge of the board of trustees’ financial responsibilities.

The reviewer prepared a summary report to the board outlining the areas reviewed, key findings, recommendations and conclusions to help the committee consider actions and assess year on year progress.

A follow-up meeting was held with A J Singh, Operational Delivery Lead, North Division, Schools Financial Support and Oversight team and there will be a further follow-up in 2025.

Review of effectiveness

As accounting officer, the principal has responsibility for reviewing the effectiveness of the system of internal control. During the year in question the review has been informed by:

- the work of the reviewer;

- the financial management and governance self-assessment process or the school resource management self-assessment tool;

- the work of the executive managers within the academy trust who have responsibility for the development and maintenance of the internal control framework;

- the work of the external auditor

- correspondence from the DfE, eg financial notice to improve/notice to improve (FNtI/NtI) and ‘minded to’ letters.

The accounting officer has been advised of the implications of the result of their review of the system of internal control by the audit and risk committee and ensures continuous improvements of the system are in place.

Conclusion

Based on the advice of the audit and risk committee and the accounting officer, the board of trustees is of the opinion that the academy trust has an adequate and effective framework for governance, risk management and control.

Approved by order of the board of trustees on 16 December 2025 and signed on its behalf by:

Mr P J Gordon
Chair
WIRRAL GRAMMAR SCHOOL FOR BOYS
STATEMENT OF REGULARITY, PROPRIETY AND COMPLIANCE
FOR THE YEAR ENDED 31 AUGUST 2025
- 14 -

As accounting officer of Wirral Grammar School for Boys, I confirm that I have had due regard to the framework of authorities governing regularity, propriety and compliance, including the trust’s funding agreement with the Department for Education (DfE), and the requirements of the Academy Trust Handbook, including responsibilities for estates safety and management. I have also considered my responsibility to notify the academy trust board of trustees and DfE of material irregularity, impropriety and non-compliance with terms and conditions of all funding, including for estates safety and management.

I confirm that I and the board of trustees are able to identify any material irregular or improper use of all funds by the academy trust, or material non-compliance with the framework of authorities.

I confirm that no instances of material irregularity, impropriety or non-compliance have been discovered to date. If any instances are identified after the date of this statement, these will be notified to the board of trustees and DfE.

Mr S P Ascroft
Accounting Officer
16 December 2025
WIRRAL GRAMMAR SCHOOL FOR BOYS
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2025
- 15 -

The trustees (who are also the directors of Wirral Grammar School for Boys for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the Academies Accounts Direction 2024 to 2025 published by the Department for Education, United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP 2019 and the Academies Accounts Direction 2024 to 2025;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for ensuring that in its conduct and operation the charitable company applies financial and other controls, which conform with the requirements both of propriety and of good financial management. They are also responsible for ensuring that grants received from ESFA/DfE have been applied for the purposes intended.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by order of the members of the board of trustees on 16 December 2025 and signed on its behalf by:

Mr S P Ascroft
Mr P J Gordon
CEO, Head Teacher and Accounting Officer
Chair
WIRRAL GRAMMAR SCHOOL FOR BOYS
INDEPENDENT AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF WIRRAL GRAMMAR SCHOOL FOR BOYS
FOR THE YEAR ENDED 31 AUGUST 2025
- 16 -

Opinion

We have audited the financial statements of Wirral Grammar School for Boys for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 Charities SORP 201 9 and the Academies Accounts Direction 2024 to 2025 issued by the Department for Education.

In our opinion the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, f or the year then ended;

-

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

-

have been prepared in accordance with the requirements of the Companies Act 2006; and

-

have been prepared in accordance with the Charities SORP 2019 and the Academies Accounts Direction 2024 to 2025.

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 'Auditor's responsibilities for the audit of the financial statements' section of our report. We are independent of the academy trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 trustees' 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 academy trust’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 trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees 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. O ur 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 th is 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.

WIRRAL GRAMMAR SCHOOL FOR BOYS
INDEPENDENT AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF WIRRAL GRAMMAR SCHOOL FOR BOYS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 17 -
Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-

the information given in the trustees' r eport including the incorporated strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the trustees' r eport including the incorporated strategic report ha s been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the academy trust and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' r eport, including the incorporated strategic report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-

the financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of trustees' remuneration specified by law are not made; or

-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees

As explained more fully in the s tatement of trustees' r esponsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees 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 trustees are responsible for assessing the academy trust’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 trustees either intend to liquidate the charitable company, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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 auditor's 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

WIRRAL GRAMMAR SCHOOL FOR BOYS
INDEPENDENT AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF WIRRAL GRAMMAR SCHOOL FOR BOYS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 18 -

Extent to which the audit was considered capable of detecting, irregularities including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance;

- the schools' own assessment of the risks that irregularities may occur either as a result of fraud or error;

- the results of our enquiries of management and members of the board of governors of their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the schools' documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

(i) The presentation of the t rusts' Statement of Financial Activities, (ii) revenue recognition (iii) the overstatement of salary and other costs (iv) the assumptions used in the calculation of the valuation of the surplus or deficit on the defined benefit pension scheme and the movements for the year. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, the Statement of Recommended Practice - 'Accounting and Reporting by Charities' issued by the joint SORP making body, along with the Academ y Trust Handbook and Accounts Direction 2024-25 issued by the Education and Skills Funding Agency.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the academy’s ability to operate or to avoid a material penalty. This includes regulations concerning Data Protection and Safeguarding.

WIRRAL GRAMMAR SCHOOL FOR BOYS
INDEPENDENT AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF WIRRAL GRAMMAR SCHOOL FOR BOYS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 19 -

Audit response to risks identified

As a result of performing the above, we identified the presentation of the T rust's Statement of Financial Activities, revenue recognition and overstatement of wages and other costs as the key audit matters related to the potential risk of fraud. The key audit matters section of our report explains the matters in more detail and also describes the specific procedures we performed in response to those key audit matters.

In addition to the above, our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations described above as having a direct effect on the financial statements;

- enquiring of management and members of the board concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- reading minutes of meetings of those charged with governance and reviewing correspondence with relevant authorities where matters identified were significant; and

- in addressing the risk of fraud through management override of controls we carried out testing of the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates were indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: http s://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Lucas (Senior Statutory Auditor)
For and on behalf of Mitchell Charlesworth (Audit) Limited, Statutory Auditor
Accountants
24 Nicholas Street
Chester
CH1 2AU
18 December 2025
WIRRAL GRAMMAR SCHOOL FOR BOYS
INDEPENDENT REPORTING ACCOUNTANT'S REPORT ON REGULARITY TO WIRRAL GRAMMAR SCHOOL FOR BOYS AND THE SECRETARY OF STATE FOR EDUCATION
FOR THE YEAR ENDED 31 AUGUST 2025
- 20 -

In accordance with the terms of our engagement letter dated 29 August 2025 and further to the requirements of the Department for Education (DfE) as included in the extant Framework and Guide for External Auditors and Reporting Accountants of Academy Trusts, we have carried out an engagement to obtain limited assurance about whether anything has come to our attention that would suggest, in all material respects, the expenditure disbursed and income received by Wirral Grammar School for Boys during the period 1 September 2024 to 31 August 2025 have not been applied to the purposes intended by Parliament and that the financial transactions do not conform to the authorities which govern them.

This report is made solely to Wirral Grammar School for Boys and the Secretary of State for Education in accordance with the terms of our engagement letter. Our work has been undertaken so that we might state to Wirral Grammar School for Boys and the Secretary of State for Education those matters we are required to state in a report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wirral Grammar School for Boys and the Secretary of State for Education, for our work, for this report, or for the conclusion we have formed.

Respective responsibilities of the accounting officer of Wirral Grammar School for Boys and the reporting accountant

The accounting officer is responsible, under the requirements of Wirral Grammar School for Boys’s funding agreement with the Secretary of State for Education and the Academy Trust Handbook, for ensuring that expenditure disbursed and income received is applied for the purposes intended by Parliament and the financial transactions conform to the authorities which govern them.

Our responsibilities for this engagement are established in the United Kingdom by our profession’s ethical guidance, and are to obtain limited assurance and report in accordance with our engagement letter and the requirements of the extant Framework and Guide for External Auditors and Reporting Accountants of Academy Trusts. We report to you whether anything has come to our attention in carrying out our work which suggests that in all material respects, expenditure disbursed and income received during the period 1 September 2024 to 31 August 2025 have not been applied for the purposes intended by Parliament or that the financial transactions do not conform to the authorities which govern them.

Approach

We conducted our engagement in accordance with the Framework and Guide for External Auditors and Reporting Accountant of Academy Trusts issued by the DfE, which requires a limited assurance engagement as set out in our engagement letter.

The objective of a limited assurance engagement is to perform such procedures as to obtain information and explanations in order to provide us with sufficient appropriate evidence to express a negative conclusion on regularity.

A limited assurance engagement is more limited in scope than a reasonable assurance engagement and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in a reasonable assurance engagement. Accordingly, we do not express a positive opinion.

Our engagement includes examination, on a test basis, of evidence relevant to the regularity and propriety of the academy trust's income and expenditure.

The work undertaken to draw to our conclusion includes:

- Reviewing the activities to ensure they are in keeping with the charitable objectives and framework.

- Reviewing declarations of interest and seeking further representations.

- Reviewing the control environment and considering potential weaknesses.

- Reviewing minutes of various committees, management accounts and holding discussions with key personnel

WIRRAL GRAMMAR SCHOOL FOR BOYS
INDEPENDENT REPORTING ACCOUNTANT'S REPORT ON REGULARITY TO WIRRAL GRAMMAR SCHOOL FOR BOYS AND THE SECRETARY OF STATE FOR EDUCATION (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 21 -
Conclusion

In the course of our work, nothing has come to our attention which suggests that in all material respects the expenditure disbursed and income received during the period 1 September 2024 to 31 August 2025 has not been applied for the purposes intended by Parliament or that the financial transactions do not conform to the authorities which govern them.

Reporting Accountant
Mitchell Charlesworth (Audit) Limited
18 December 2025
WIRRAL GRAMMAR SCHOOL FOR BOYS
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
- 22 -
Unrestricted
Restricted funds:
Total
Total
funds
General
Fixed asset
2025
2024
Notes
£'000
£'000
£'000
£'000
£'000
Income and endowments from:
Donations and capital grants
3
-
28
449
477
(626)
Charitable activities:
- Funding for educational operations
4
553
6,685
-
7,238
6,855
Other trading activities
5
43
-
-
43
43
Investments
6
32
-
-
32
-
0
Total
628
6,713
449
7,790
6,272
Expenditure on:
Charitable activities:
- Educational operations
8
552
6,782
360
7,694
7,148
Total
7
552
6,782
360
7,694
7,148
Net income/(expenditure)
76
(69)
89
96
(876)
Transfers between funds
17
-
(33)
33
-
-
Other recognised gains/(losses)
Actuarial gains on defined benefit pension schemes
19
-
109
-
109
13
Net movement in funds
76
7
122
205
(863)
Reconciliation of funds
Total funds brought forward
260
362
11,496
12,118
12,981
Total funds carried forward
336
369
11,618
12,323
12,118
WIRRAL GRAMMAR SCHOOL FOR BOYS
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
- 23 -
Comparative year information
Unrestricted
Restricted funds:
Total
Year ended 31 August 2024
funds
General
Fixed asset
2024
Notes
£'000
£'000
£'000
£'000
Income and endowments from:
Donations and capital grants
3
-
7
(633)
(626)
Charitable activities:
- Funding for educational operations
4
-
6,855
-
6,855
Other trading activities
5
43
-
-
43
Total
43
6,862
(633)
6,272
Expenditure on:
Charitable activities:
- Educational operations
8
-
6,826
322
7,148
Total
7
-
6,826
322
7,148
Net income/(expenditure)
43
36
(955)
(876)
Transfers between funds
17
-
(98)
98
-
Other recognised gains/(losses)
Actuarial gains on defined benefit pension schemes
19
-
13
-
13
Net movement in funds
43
(49)
(857)
(863)
Reconciliation of funds
Total funds brought forward
217
411
12,353
12,981
Total funds carried forward
260
362
11,496
12,118
WIRRAL GRAMMAR SCHOOL FOR BOYS
BALANCE SHEET
AS AT 31 AUGUST 2025
- 24 -
2025
2024
Notes
£'000
£'000
£'000
£'000
Fixed assets
Tangible assets
12
11,214
11,496
Current assets
Debtors
13
564
314
Cash at bank and in hand
1,211
1,685
1,775
1,999
Current liabilities
Creditors: amounts falling due within one year
14
(666)
(1,115)
Net current assets
1,109
884
Total assets less current liabilities
12,323
12,380
Creditors: amounts falling due after more than one year
15
-
(124)
Net assets excluding pension liability
12,323
12,256
Defined benefit pension scheme liability
19
-
0
(138)
Total net assets
12,323
12,118
Funds of the academy trust:
Restricted funds
17
- Fixed asset funds
11,618
11,496
- Restricted income funds
369
500
- Pension reserve
-
(138)
Total restricted funds
11,987
11,858
Unrestricted income funds
17
336
260
Total funds
12,323
12,118

The financial statements on pages 22 to 45 were approved by the trustees and authorised for issue on 16 December 2025 and are signed on their behalf by:

Mr S P Ascroft
Mr P J Gordon
CEO, Head Teacher and Accounting Officer
Chair
Company registration number 07734231 (England and Wales)
WIRRAL GRAMMAR SCHOOL FOR BOYS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
- 25 -
2025
2024
Notes
£'000
£'000
£'000
£'000
Cash flows from operating activities
Net cash used in operating activities
20
(814)
(219)
Cash flows from investing activities
Dividends, interest and rents from investments
32
-
Capital grants from DfE Group
449
829
Purchase of tangible fixed assets
(78)
(664)
Net cash provided by investing activities
403
165
Cash flows from financing activities
New other loan
-
124
Repayment of other loan
(63)
-
Net cash (used in)/provided by financing activities
(63)
124
Net (decrease)/increase in cash and cash equivalents in the reporting period
(474)
70
Cash and cash equivalents at beginning of the year
1,685
1,615
Cash and cash equivalents at end of the year
1,211
1,685
WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 26 -
1
Accounting policies

A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below.

1.1
Basis of preparation

The financial statements of the academy trust, which is a public benefit entity under FRS 102, have been prepared under the historical cost convention in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102), the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), the Academies Accounts Direction 2024 to 2025 issued by the Department for Education, the Charities Act 2011 and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £'000.

1.2
Going concern

The trustees assess whether the use of going concern is appropriate, ie whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the academy trust has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the academy trust’s ability to continue as a going concern. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Income

All incoming resources are recognised when the academy trust has entitlement to the funds, the receipt is probable and the amount can be measured reliably.

Grants

Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.

General Annual Grant is recognised in full in the statement of financial activities in the period for which it is receivable, and any abatement in respect of the period is deducted from income and recognised as a liability.

Capital grants are recognised in full when there is an unconditional entitlement to the grant. Unspent amounts of capital grants are reflected in the balance sheet in the restricted fixed asset fund. Capital grants are recognised when there is entitlement and are not deferred over the life of the asset on which they are expended.

Sponsorship income

Sponsorship income provided to the academy trust which amounts to a donation is recognised in the statement of financial activities in the period in which it is receivable (where there are no performance-related conditions), where the receipt is probable and it can be measured reliably.

Donations

Donations are recognised on a receivable basis (where there are no performance-related conditions) where the receipt is probable and the amount can be reliably measured.

WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 27 -
Other income

Other income, including the hire of facilities, is recognised in the period it is receivable and to the extent the academy trust has provided the goods or services.

Donated goods, facilities and services

Goods donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. If it is practical to assess the fair value at receipt, it is recognised in stock and ‘Income from other trading activities’. Upon sale, the value of the stock is charged against ‘Income from other trading activities’ and the proceeds are recognised as ‘Income from other trading activities’. Where it is impractical to fair value the items due to the volume of low value items they are not recognised in the financial statements until they are sold. This income is recognised within ‘Income from other trading activities’.

Donated fixed assets

Donated fixed assets are measured at fair value unless it is impractical to measure this reliably, in which case the cost of the item to the donor is used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset category and depreciated over the useful economic life in accordance with the academy trust‘s accounting policies.

1.4
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

All resources expended are inclusive of irrecoverable VAT.

Expenditure on raising funds

This includes all expenditure incurred by the academy trust to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Charitable activities

These are costs incurred on the academy trust's educational operations, including support costs and costs relating to the governance of the academy trust apportioned to charitable activities.

WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 28 -
1.5
Tangible fixed assets and depreciation

Assets costing £2,000 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment.

Where tangible fixed assets have been acquired with the aid of specific grants, either from the government or from the private sector, they are included in the balance sheet at cost and depreciated over their expected useful economic life. Where there are specific conditions attached to the funding that require the continued use of the asset, the related grants are credited to a restricted fixed asset fund in the statement of financial activities and carried forward in the balance sheet. Depreciation on the relevant assets is charged directly to the restricted fixed asset fund in the statement of financial activities. Where tangible fixed assets have been acquired with unrestricted funds, depreciation on such assets is charged to the unrestricted fund.

Depreciation is provided on all tangible fixed assets other than freehold land, at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:

Freehold property
Land - not depreciated, Buildings - over 20 / 50 years
Long-term leasehold property
Over 20 years
Assets under construction
Not depreciated
Computer equipment
Over 5 years
Fixtures, fittings & equipment
Over 5 / 20 years
Motor vehicles
Over 4 years

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.

1.6
Liabilities

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 academy trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods of services it must provide.

1.7
Provisions

Provisions are recognised when the academy trust has an obligation at the reporting date as a result of a past event which it is probable will result in the transfer of economic benefits and the obligation can be estimated reliably.

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 within interest payable and similar charges.

1.8
Leased assets

Rentals under operating leases are charged on a straight-line basis over the lease term.

1.9
Financial instruments

The academy trust only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the academy trust and their measurement basis are as follows.

WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 29 -
Financial assets

Trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at face value.

Financial liabilities

Trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

1.10
Taxation

The academy trust is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the academy trust is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.11
Pensions benefits

Retirement benefits to employees of the academy trust are provided by the Teachers' Pension Scheme ('TPS') and the Local Government Pension Scheme ('LGPS'). These are defined benefit schemes and the assets are held separately from those of the academy trust.

The TPS is an unfunded scheme and contributions are calculated to spread the cost of pensions over employees' working lives with the academy trust 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 based on quadrennial valuations using a prospective unit credit method. The TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. Consequently, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions are recognised in the period to which they relate.

The LGPS is a funded multi-employer scheme and the assets are held separately from those of the academy trust in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high-quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to net income or expenditure are the current service costs and the costs of scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the statement of financial activities and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses. Actuarial gains and losses are recognised immediately in other recognised gains and losses.

1.12
Fund accounting

Unrestricted income funds represent those resources which may be used towards meeting any of the charitable objects of the academy trust at the discretion of the trustees.

Restricted fixed asset funds are resources which are to be applied to specific capital purposes imposed by funders where the asset acquired or created is held for a specific purpose.

WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 30 -

Restricted general funds comprise all other restricted funds received with restrictions imposed by the funder/donor and include grants from the Department for Education Group.

2
Critical accounting estimates and areas of judgement

Accounting e stimates and judgements 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 academy trust 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.

Local Government Pension Scheme

The present value of the Local Government Pension Scheme defined benefit asset/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 or income for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 19, will impact on the carrying amount of the pension asset/liability. Furthermore, a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions liability at 31 August 2025. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension asset/liability.

FRS 102 section 28.22 allows an entity to recognise a surplus within the Local Government Pension Scheme “only to the extent it is able to recover the surplus either through reduced contributions in the future or through refunds from the plan”. The actuarial report as at 31 August 2025 indicates a defined benefit asset position, which has been capped at nil value. This is on the basis that it is uncertain that a surplus following any triennial review would result in reduced contributions for the employer, and is unlikely to result in a repayment.

Land and Buildings Valuation

The freehold land and buildings within the accounts relate to the academy premises which were donated to the academy trust on conversion. The land and buildings were valued using an independent valuer. These are being depreciated in accordance with the depreciation policies set out in note 1.

3
Donations and capital grants
Unrestricted
Restricted
Total
Total
funds
funds
2025
2024
£'000
£'000
£'000
£'000
Capital grants
-
449
449
(633)
Other donations
-
28
28
7
-
477
477
(626)

In the prior year, two CIF projects awarded came under budget and funding was clawed back amounting to £656k, resulting in the negative impact to income of £633k as included above.

WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 31 -
4
Funding for the academy trust's educational operations
Unrestricted
Restricted
Total
Total
funds
funds
2025
2024
£'000
£'000
£'000
£'000
DfE/ESFA grants
General annual grant (GAG)
-
6,021
6,021
5,935
Other DfE/ESFA grants:
- Pupil premium
-
78
78
72
- Teachers pay and pension grant
-
253
253
185
- Others
-
254
254
187
-
6,606
6,606
6,379
Other government grants
Local authority grants
-
44
44
82
Other incoming resources
553
35
588
394
Total funding
553
6,685
7,238
6,855
5
Other trading activities
Unrestricted
Restricted
Total
Total
funds
funds
2025
2024
£'000
£'000
£'000
£'000
Hire of facilities
43
-
43
43
6
Investment income
Unrestricted
Restricted
Total
Total
funds
funds
2025
2024
£'000
£'000
£'000
£'000
Short term deposits
32
-
32
-
WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 32 -
7
Expenditure
Non-pay expenditure
Total
Total
Staff costs
Premises
Other
2025
2024
£'000
£'000
£'000
£'000
£'000
Academy's educational operations
- Direct costs
5,014
270
813
6,097
6,389
- Allocated support costs
714
513
370
1,597
759
5,728
783
1,183
7,694
7,148
Net income/(expenditure) for the year includes:
2025
2024
£'000
£'000
Operating lease rentals
22
28
Depreciation of tangible fixed assets
360
322
Fees payable to auditor for:
- Audit
8
18
- Other services
6
2
Net interest on defined benefit pension liability
8
5
8
Charitable activities
Unrestricted
Restricted
Total
Total
funds
funds
2025
2024
£'000
£'000
£'000
£'000
Direct costs
Educational operations
552
5,545
6,097
6,389
Support costs
Educational operations
-
1,597
1,597
759
552
7,142
7,694
7,148
Analysis of support costs
2025
2024
£'000
£'000
Support staff costs
774
584
Depreciation
90
-
Premises costs
423
82
Other support costs
290
76
Governance costs
20
17
1,597
759
WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 33 -
9
Staff
Staff costs and employee benefits
Staff costs during the year were:
2025
2024
£'000
£'000
Wages and salaries
4,167
3,841
Social security costs
491
415
Pension costs
1,062
893
Staff costs - employees
5,720
5,149
Agency staff costs
8
62
Staff restructuring costs
-
4
5,728
5,215
Staff development and other staff costs
60
96
Total staff expenditure
5,788
5,311
Staff restructuring costs comprise:
Severance payments
-
4
Staff numbers
The average number of persons employed by the academy trust during the year was as follows:
2025
2024
Number
Number
Teachers
59
57
Administration and support
38
42
Management
6
6
103
105
WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
9
Staff
(Continued)
- 34 -
Higher paid staff
The number of employees whose employee benefits (excluding employer pension costs and employer national insurance contributions) exceeded £60,000 was:
2025
2024
Number
Number
£60,001 - £70,000
6
3
£70,001 - £80,000
3
1
£80,001 - £90,000
1
1
£110,001 - £120,000
-
1
£120,001 - £130,000
1
-
Key management personnel

The key management personnel of the academy trust comprise the trustees and the senior management team as listed on page 1. The total amount of key management personnel benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for their services to the academy trust was £6 91,219 (2024: £599,584).

10
Trustees' remuneration and expenses

One or more of the trustees has been paid remuneration or has received other benefits from an employment with the academy trust. The principal and other staff trustees only receive remuneration in respect of services they provide undertaking the roles of principal and staff members under their contracts of employment, and not in respect of their services as trustees.

The value of trustees' remuneration and other benefits was as follows:

2025 2024

£000 £000

Mr S Ascroft, Head Teacher and Accounting Officer Remuneration 125 - 130 110 - 115

Pension contributions paid 35 - 40 25 - 30

Mr K J McCabe, Staff Trustee Remuneration 55 - 60 50 - 55

Pension contributions paid 15 - 20 10 - 15

11
Trustees' and officers' insurance

In accordance with normal commercial practice, the academy trust has purchased insurance to protect trustees and officers from claims arising from negligent acts, errors or omissions occurring whilst on academy trust business. The insurance provides cover up to £10,000,000 on any one claim. The cost of this insurance is included in the total insurance cost.

WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 35 -
12
Tangible fixed assets
Freehold property
Long-term leasehold property
Assets under construction
Computer equipment
Fixtures, fittings & equipment
Motor vehicles
Total
£'000
£'000
£'000
£'000
£'000
£'000
£'000
Cost
At 1 September 2024
11,543
521
-
55
2,179
20
14,318
Additions
5
-
25
33
15
-
78
At 31 August 2025
11,548
521
25
88
2,194
20
14,396
Depreciation
At 1 September 2024
2,198
357
-
27
221
19
2,822
Charge for the year
191
27
-
12
130
-
360
At 31 August 2025
2,389
384
-
39
351
19
3,182
Net book value
At 31 August 2025
9,159
137
25
49
1,843
1
11,214
At 31 August 2024
9,345
164
-
28
1,958
1
11,496
WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 36 -
13
Debtors
2025
2024
£'000
£'000
Trade debtors
1
-
VAT recoverable
52
67
Prepayments and accrued income
511
247
564
314
14
Creditors: amounts falling due within one year
2025
2024
£'000
£'000
Other loans
61
-
Trade creditors
52
87
Other taxation and social security
120
93
Other creditors
124
454
Accruals and deferred income
309
481
666
1,115
15
Creditors: amounts falling due after more than one year
2025
2024
£'000
£'000
Other loans
-
124
2025
2024
Analysis of loans
£'000
£'000
Wholly repayable within five years
61
124
Less: included in current liabilities
(61)
-
Amounts included above
-
124
Loan maturity

Two CIF loans are outstanding, t he final loan repayments have been made in September 2025, and therefore the loans have been treated as due within one year. No interest is payable on the loans.

WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 37 -
16
Deferred income
2025
2024
£'000
£'000
Deferred income is included within:
Creditors due within one year
209
269
Deferred income at 1 September 2024
269
160
Released from previous years
(269)
(160)
Resources deferred in the year
209
269
Deferred income at 31 August 2025
209
269
17
Funds
Balance at
Gains,
Balance at
1 September
losses and
31 August
2024
Income
Expenditure
transfers
2025
£'000
£'000
£'000
£'000
£'000
Restricted general funds
General Annual Grant (GAG)
306
6,021
(6,017)
(33)
277
Pupil premium
-
78
(78)
-
-
Other DfE/ESFA grants
-
254
(254)
-
-
Other government grants
-
44
(44)
-
-
Teachers pay/pension grant
-
253
(253)
-
-
School fund
152
-
(102)
-
50
Other restricted funds
42
63
(63)
-
42
Pension reserve
(138)
-
29
109
-
362
6,713
(6,782)
76
369
Restricted fixed asset funds
Inherited on conversion
8,711
-
(144)
-
8,567
DfE group capital grants
2,785
449
(213)
-
3,021
Capital expenditure from GAG
-
-
(3)
33
30
11,496
449
(360)
33
11,618
Total restricted funds
11,858
7,162
(7,142)
109
11,987
Unrestricted funds
General funds
260
628
(552)
-
336
Total funds
12,118
7,790
(7,694)
109
12,323
WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
17
Funds
(Continued)
- 38 -

The specific purposes for which the funds are to be applied are as follows:

Restricted General Funds

These comprise of all restricted funds other than restricted fixed asset fund and include grants from the Education and Skills Fund Agency and local authorities.

Under the funding agreement with the Secretary of State, the academy trust was not subject to a limit on the amount of GAG that it could carry forward.

Unrestricted Funds

These comprise of resources that may be used towards meeting any of the charitable objects of the academy trust at the discretion of the trustees.

Restricted Fixed Asset Funds

These comprise of resources which are to the applied to specific capital purposes imposed by the Education and Skills Funding Agency and local authorities where the asset acquired or created is held for a specific purpose

WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
17
Funds
(Continued)
- 39 -
Comparative information in respect of the preceding period is as follows:
Balance at
Gains,
Balance at
1 September
losses and
31 August
2023
Income
Expenditure
transfers
2024
£'000
£'000
£'000
£'000
£'000
Restricted general funds
General Annual Grant (GAG)
407
5,935
(5,938)
(98)
306
Pupil premium
-
72
(72)
-
-
Other DfE/ESFA grants
-
187
(187)
-
-
Other government grants
-
82
(82)
-
-
Teachers pay/pension grant
-
185
(185)
-
-
School fund
148
381
(377)
-
152
Other restricted funds
41
20
(19)
-
42
Pension reserve
(185)
-
34
13
(138)
411
6,862
(6,826)
(85)
362
Restricted fixed asset funds
Inherited on conversion
8,855
-
(144)
-
8,711
DfE group capital grants
3,498
(633)
(178)
98
2,785
12,353
(633)
(322)
98
11,496
Total restricted funds
12,764
6,229
(7,148)
13
11,858
Unrestricted funds
General funds
217
43
-
-
260
Total funds
12,981
6,272
(7,148)
13
12,118
18
Analysis of net assets between funds
Unrestricted
Restricted funds:
Total
Funds
General
Fixed asset
Funds
£'000
£'000
£'000
£'000
Fund balances at 31 August 2025 are represented by:
Tangible fixed assets
-
-
11,214
11,214
Current assets
336
968
471
1,775
Current liabilities
-
(599)
(67)
(666)
Total net assets
336
369
11,618
12,323
WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
18
Analysis of net assets between funds
(Continued)
- 40 -
Unrestricted
Restricted funds:
Total
Funds
General
Fixed asset
Funds
£'000
£'000
£'000
£'000
Fund balances at 31 August 2024 are represented by:
Tangible fixed assets
-
-
11,496
11,496
Current assets
260
1,739
-
1,999
Current liabilities
-
(1,115)
-
(1,115)
Non-current liabilities
-
(124)
-
(124)
Pension scheme liability
-
(138)
-
(138)
Total net assets
260
362
11,496
12,118
19
Pension and similar obligations

The academy trust's employees belong to two principal pension schemes: the Teachers' Pension Scheme England and Wales (TPS) for academic and related staff; and the Local Government Pension Scheme (LGPS) for non-teaching staff, which is managed by Merseyside Pension Fund. Both are multi-employer defined benefit schemes.

The latest actuarial valuation of the TPS related to the period ended 31 March 2020, and that of the LGPS related to the period ended 31 March 2022.

Contributions amounting to £125,711 were payable to the schemes at 31 August 2025 (2024: £113,000) and are included within creditors.

Teachers' Pension Scheme
Introduction

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for teachers in academy trusts. 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.

WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
19
Pension and similar obligations
(Continued)
- 41 -

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:

- Employer contribution rates set at 28.68% of pensionable pay (including a 0.08% administration levy). This is an increase of 5% in employer contributions and the cost control result is such that no change in member benefits is needed.

- Total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £262,000 million and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £222,200 million, giving a notional past service deficit of £39,800 million.

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

The employer's pension costs paid to the TPS in the period amounted to £902,094 (2024: £750,637).

A copy of the valuation report and supporting documentation is on the Teachers’ Pensions website.

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The academy trust is unable to identify its share of the underlying assets and liabilities of the plan. Accordingly, the academy trust has taken advantage of the exemption in FRS 102 and has accounted for its contributions to the scheme as if it were a defined contribution scheme. The academy trust has set out above the information available on the scheme.

Local Government Pension Scheme

The LGPS is a funded defined benefit pension scheme, with the assets held in separate trustee-administered funds. The total contributions are as noted below. The agreed contribution rates for future years are 18.0% for employers and 5.5 to 12.5% for employees.

Parliament has agreed, at the request of the Secretary of State for Education, to a guarantee that, in the event of academy closure, outstanding Local Government Pension Scheme liabilities would be met by the Department for Education. The guarantee came into force on 18 July 2013 and on 21 July 2022, the Department for Education reaffirmed its commitment to the guarantee, with a parliamentary minute published on GOV.UK.

Total contributions made
2025
2024
£'000
£'000
Employer's contributions
195
181
Employees' contributions
58
54
Total contributions
253
235
WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
19
Pension and similar obligations
(Continued)
- 42 -
Principal actuarial assumptions
2025
2024
%
%
Rate of increase in salaries
4.1
4.1
Rate of increase for pensions in payment/inflation
2.7
2.7
Discount rate for scheme liabilities
6.2
5
Inflation assumption (CPI)
2.6
2.6
The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectations on retirement age 65 are:
2025
2024
Years
Years
Retiring today
- Males
20.6
20.8
- Females
23.3
23.4
Retiring in 20 years
- Males
21.7
22
- Females
24.7
25.1
Sensitivity analysis

Scheme liabilities would have been affected by changes in assumptions as follows:

2025
2024
Discount rate + 0.1%
-49
-61
Discount rate - 0.1%
49
62
Mortality assumption + 1 year
68
92
Mortality assumption - 1 year
-67
-90
CPI rate + 0.1%
49
62
CPI rate - 0.1%
-49
-62
Defined benefit pension scheme net asset/(liability)
2025
2024
£'000
£'000
Scheme assets
4,262
3,856
Scheme obligations
(3,528)
(3,994)
Net asset/(liability)
734
(138)
Restriction on scheme assets
(734)
-
Total liability recognised
-
(138)
WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
19
Pension and similar obligations
(Continued)
- 43 -
The academy trust's share of the assets in the scheme
2025
2024
Fair value
Fair value
£'000
£'000
Equities
2,365
2,051
Bonds
226
251
Cash
77
58
Property
473
436
Other assets
1,121
1,060
Total market value of assets
4,262
3,856
Restriction on scheme assets
(734)
-
Net assets recognised
3,528
3,856
The actual return on scheme assets was £336,000 (2024: £301,000).
Amount recognised in the statement of financial activities
2025
2024
£'000
£'000
Current service cost
158
142
Interest income
(195)
(192)
Interest cost
203
197
Benefit changes, curtailments and settlements gains or losses
(5)
(4)
Administration expenses
5
4
Total amount recognised
166
147
Changes in the present value of defined benefit obligations
2025
2024
£'000
£'000
At 1 September 2024
3,994
3,724
Current service cost
158
138
Interest cost
198
197
Employee contributions
58
54
Actuarial (gain)/loss
(702)
96
Benefits paid
(178)
(215)
At 31 August 2025
3,528
3,994
WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
19
Pension and similar obligations
(Continued)
- 44 -
Changes in the fair value of the academy trust's share of scheme assets
2025
2024
£'000
£'000
At 1 September 2024
3,856
3,539
Interest income
195
-
Actuarial gain
141
301
Employer contributions
195
181
Employee contributions
58
54
Benefits paid
(178)
(215)
Effect of non-routine settlements and administration expenses
(5)
(4)
At 31 August 2025
4,262
3,856
Restriction on scheme assets
(734)
-
Net assets recognised
3,528
3,856
Restriction of pension scheme assets

The net gain recognised on scheme assets has been restricted because the full pension surplus is not expected to be recovered through refunds or reduced contributions in the future.

20
Reconciliation of net income/(expenditure) to net cash flow from operating activities
2025
2024
Notes
£'000
£'000
Net income/(expenditure) for the reporting period
(as per the statement of financial activities)
96
(876)
Adjusted for:
Capital grants from DfE and other capital income
(449)
633
Investment income receivable
6
(32)
-
Defined benefit pension costs less contributions payable
19
(37)
(39)
Defined benefit pension scheme finance cost
19
8
5
Depreciation of tangible fixed assets
360
322
(Increase) in debtors
(250)
(87)
(Decrease) in creditors
(510)
(177)
Net cash used in operating activities
(814)
(219)
WIRRAL GRAMMAR SCHOOL FOR BOYS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 45 -
21
Analysis of changes in net funds
1 September 2024
Cash flows
31 August 2025
£'000
£'000
£'000
Cash
1,685
(474)
1,211
Loans falling due within one year
-
(61)
(61)
Loans falling due after more than one year
(124)
124
-
1,561
(411)
1,150
22
Long-term commitments
Operating leases
At 31 August 2025 the total of the academy trust's future minimum lease payments under non-cancellable operating leases was:
2025
2024
£'000
£'000
Amounts due within one year
18
11
Amounts due in two and five years
37
29
55
40
23
Related party transactions

No related party transactions took place in the period of account, other than certain trustees' remuneration already disclosed in note 10.

24
Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he or she ceases to be a member.

25
Agency arrangements

The academy trust distributes 16-19 bursary funding to students as an agent for ESFA. In the accounting year end 31 August 2025 the trust received £11,492 (2024 - £16,947) and distributed £15,040 (2024 - £16,977) from the fund. An amount of £19,168 (2024 - £22,716) is included within other creditors relating to undistributed funds that are being carried forward for distribution in 2025/26.

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