2021-08-31-accounts - Durham Cathedral Schools Foundation

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					Page
Reference and administrative		details ofthe	charity, its trustees and advisers
Trustees' report					2-10
Independent	auditors' report				11-14
Consolidated	statement offinancial activities				15
Consolidated	balance sheet
Company balance sheet					17
Consolidated	statement ofcash flows				18
Notes to the	financial statements				19-41
The following	pages do not form	part of the statutory		financial statements:
Company detailed income and expenditure			account and summaries		42-44

		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	funds	funds
		2021	2021	2021	2021	2020
	Note		8		6
INCOME AND ENDOWMENTS
FROM:
Donations and legacies	2	129,824			129,824
Charitable activities	3	8,675,278			8,675,278	7,585,342
Other trading activities	4	126,234			126,234	119,332
Investments	5	263,565	21,663	6,127	291,355	176,624
TOTAL INCOME AND
ENDOWMENTS		9,194,901	21,663	6,127	9,222,691	7,881,298
EXPENDITURE ON:
Raising funds		304,693			304,693	209,462
Charitable activities		9,192,581	90,214	6,960	9,289,755	8,060,573
Exceptional	13	270,872			270,872
TOTAL EXPENDITURE	6	9,768,146	90,214	6,960	9,865,320	8,270,035
NET EXPENDITURE BEFORE
INVESTNIENT GAINS		(573,245)	(68,551)	(833)	(642,629)	(388,737)
Net gains on investments	15		75,984	47,877	123,861	21,287
NET INCOME I
(EXPENDITURE) BEFORE
OTHER RECOGNISED GAINS
AND LOSSES		(573,245)	7,433	47,044	(518,768)	(367,450)
NET MOVEMENT IN FUNDS		(573,245)	7,433	47,044	(518,768)	(367,450)
RECONCILIATION OF FUNDS:
Total funds brought forward		(1,602,673)	1,414,309	298,706	110,342	477,792
TOTAL FUNDS CARRIED FORWARD		(2,175,918)	1,421,742	345,750	(408,426)	110,342

			ASAT 31	AU	GUST 2021
			Note		E	2021 6		2020f
FIXEDASSETS
Tangible assets			14			5,490,316		5,598,140
Investments			15			1,076,850		952,989
Investments in joint ventures
-Share ofgross assets					175		175
Share of net assets			15			175		175
						6,567,341		6,551,304
CURRENT ASSETS
Stocks			16		50,806		80,559
Debtors			17		1,532,993		763,964
Cash at bank and in hand					484,663		313,978
					2,068,462		1,158,501
CREDITORS: amounts	falling due within
one year			18	(4,739,240)			(3,398,942)
NET CURRENT LIABILITIES						(2,670,778)		(2,240,441)
TOTAL ASSETS LESSCURRENT LIABILITIES						3,896,563		4,310,863
CREDITORS: amounts	falling due after
more than one year			19			(4,304,989)		(4,200,521)
NET (LIABILITIES)/ASSETS						(408,426)		110,342
CHARITY FUNDS
Endowment funds			20			345,750		298,706
Restricted funds			20			1,421,742		1,414,309
Unrestricted funds			20			(2,175,918)		(1,602,673)
TOTAL (DEFICIT)/FUNDS						(408,426)		110,342
Thefinancial statement	s	wereapproved	and authorised		for issue	by the Trustees	on	18

	REGISTERED NUMBER: 027769	REGISTERED NUMBER: 027769	REGISTERED NUMBER: 027769	REGISTERED NUMBER: 027769	REGISTERED NUMBER: 027769	REGISTERED NUMBER: 027769	14
	COMPANY BALANCE SHEET
		AS	AT 31 AUGUST 2021
			Note				2021 5		2020f
FIXEDASSETS
Tangible assets			14				5,490,316		5,598,140
Investments			15				1,076,850		952,989
							6,567,166		6,551,129
CURRENT ASSETS
Debtors			17		1,571,874			860,067
Cash at bank and in hand					478,751			312,450
					2,050,625			1,172,517
CREDITORS: amounts	falling due within
one year			18	(4,718,244)				(3,374,342)
NET CURRENT LIABILITIES						(2,667,619)			(2,201,825)
TOTAL ASSETS LESS	CURRENT LIABILITIES						3,899,547		4,349,304
CREDITORS: amounts	falling due after
more than one year			19			(4,304,989)			(4,200,521)
NET (LIABILITIES)/ASSETS							(405,442)		148,783
CHARITY FUNDS
Endowment funds							345,750		298,706
Restricted funds							1,421,742		1,414,309
Unrestricted funds						(2,172,934)			(1,564,232)
TOTAL (DEFICIT)/FUNDS							(405,442)		148,783
The financial statements	were approved	and	authodised		for issue	by	the Trustees	on	18

	FOR	THE	YEAR ENDED	31AUGUST 2021
				Note	2021 6	2020f
Cash flows from operating	activities
Net cash provided by operating activities				22	158,895	200,428
Cash flows from investing	activities:
Dividends, interest and rents	from investments				21,663	38,412
Proceeds from the sale oftangible fixed		assets			5,000
Purchase oftangible fixed assets					(59,552)	(26,627)
Net cash (used in)/provided	by investing		activities		(32,889)	11,785
Cash flows from financing	activities:
Repayments ofborrowings					(12,547)	(199,729)
Cash inflowe from new borrowing					58,059
Receipt ofendowment					(833)	(424)
Net cash provided by/(used in) financing			activities		44,679	(200,153)
Change in cash and cash	equivalents	in	the year		170,685	12,060
Cash and cash equivalents	brought forward				313,978	301,918
Cash and cash equivalents	carried forward			23	484,663	313,978

INCOM	E FRONI DONATI	ONS AND LEGACIES
		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	funds	funds
		2021	2021	2021	2021	2020
		6	F	F
Capital	donations	129,824			129,824

INCOME F	ROM CHARIT	ABLE ACTIVITIES
		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	funds	funds
		2021	2021	2021	2021	2020
		F	F	F	8
School fee	income	8,311,660			8,311,660	8,433,504
Bursaries, grants and
allowances		(1,620,248)			(1,620,248)	(1,698,558)
Other ancillary fees		1,441,953			1,441,953	273,207
Government	income	541,913			541,913	577,189
		8,675,278			8,675,278	7,585,342
Total 2020		7,585,342			7,585,342

			FOR THE YEAR	ENDED 31AU	GUST 2021
4.	FUNDRAISING INCOME
			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
			2021	2021	2021	2021	2020
			F		K	F	F
	Trading turnover		126,234			126,234	119,332
	Total 2020		119,332			119,332
5.	INVESTMENT INCOME
			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
			2021	2021	2021	2021	2020
			6	5		6	6
	Income from	investments	263,565	21,663	6,127	291,355	176,438
	Bank interest	received					186
			263,565	21,663	6,127	291,355	176,624
	Total 2020		130,186	38,412	8,026	176,624
6.	ANALYSIS OF EXPENDITURE BYEXPENDITURE TYPE
			Staff costs	Depreciation	Other costs	Total	Total
			2021	2021	2021	2021	2020
			6		6		6
	Trading expenditure				112,493	112,493	78,423
	Finance costs				192,200	192,200	131,039
	Costs of raising funds				304,693	304,693	209,462
	Educational	charitable
	activities		6,161,080	297,200	2,769,799	9,228,079	8,023,903
	Governance	costs			61,676	61,676	36,670
	Exceptional	- note 13	116,426		154,446	270,872
			6,277,506	297,200	3,290,614	9,865,320	8,270,035
	Total 2020		5,203,293	298,710	2,768,032	8,270,035

DIRECT	CO	STS
			Educational	Total	Total
			activities	2021	2020
			6
Educational		costs	347,960	347,960	328,629
Bursaries			97,174	97,174	80,362
Welfare			23,692	23,692	30,990
Wages and		salaries	3,321,677	3,321,677	2,983,107
National	insurance		464,187	464,187	388,213
Pension	cost		936,824	936,824	715,770
			5,191,514	5,191,514	4,527,071
Total 2020			4,527,071	4,527,071

SUPPORT COSTS
	Educational	Total	Total
	activities	2021	2020
	5
Welfare	872,865	872,865	529,762
Support costs ofschooling	710,252	710,252	604,047
Premises	717,856	717,856	948,110
Wages and salaries	1,438,392	1,438,392	1,116,203
Depreciation	297,200	297,200	298,710
	4,036,565	4,036,565	3,496,832
Total 2020	3,496,832	3,496,832

			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
			2021	2021	2021	2021	2020
			F	F	E	6
Auditors'	remuneration		18,560			18,560	18,000
Legal and	professional	costs	43,116			43,116	18,670
			61,676			61,676	36,670

	2021	2020
	F
Depreciation oftangible fixed assets:
-owned by the charitable group	289,281	292,974
- held under finance leases	7,919	5,733
Auditors' remuneration - audit	18,560	18,000
Operating lease rentals - land and buildings	238,065	235,815
Operating lease rentals - other	13,239	15,068

STAFFCOSTS Staff costs were as follows:
	2021	2020
	6	6
Wages and salaries	4,876,495	4,099,310
Social security costs	464,187	388,213
Other pension costs	936,824	715,770
	6,277,506	5,203,293

		2021	2020
		No.	No.
Teaching staff		110	72
Non-teaching staff		43	45
		153	117
The number of higher paid employees	was:
		2021	2020
		No.	No.
In the band 660,001 - 670,000		0	2
In the band F70,001 - F80,000		4	1
In the band E80,001 - 890,000		1	1
In the band 6100,001 - 6200,000		1	1

			2021f	2020
On	bank loans and overdrafts		156,153	107,890
On	finance lease and hire purchase	contracts	8,446	3,090
			164,599	110,980

TANGIBLE FIXEDASSETS
	Freehold	Leasehold	Motor	Fixtures and
	property	property	vehicles	fittings	Total
Group	6			5	5
Cost
At 1 September 2020	1,400,000	5,699,863	133,543	2,395,217	9,628,623
Additions			29,141	160,235	189,376
Disposals			(19,709)		(19,709)
At 31August 2021	1,400,000	5,699,863	142,975	2,555,452	9,798,290
Depreciation
At 1 September 2020	281,442	1,825,651	73,152	1,850,238	4,030,483
Charge for the year	29,624	137,425	9,351	120,800	297,200
On disposals			(19,709)	-	(19,709)
At 31August 2021	311,066	1,963,076	62,794	1,971,038	4,307,974
Net book value
At 31 August 2021	1,088,934	3,736,787	80,181	584,414	5,490,316
At 31August 2020	1,118,558	3,874,212	60,391	544,979	5,598,140
The net book value ofassets held under finance		leases or hire	purchase contracts, included		above, are as
follows:
				2021	2020
Group					F
Motor vehicles				65,364	44,143

	NOTES TO THE FINANCIAL STATEMENTS	NOTES TO THE FINANCIAL STATEMENTS	NOTES TO THE FINANCIAL STATEMENTS
	FOR THE YEAR	ENDED 31AUGUST	2021
		Long-term
		leasehold	Motor	Fixtures and
Company		property 6	vehiclesf	fittings 6	Total 6
Cost
At 1 September 2020	1,400,000	5,699,863	133,543	2,383,210	9,616,616
Additions			29,141	160,235	189,376
Disposals			(19,709)		(19,709)
At 31August 2021	1,400,000	5,699,863	142,975	2,543,445	9,786,283
Depreciation
At 1 September 2020	281,442	1,825,651	73,152	1,838,231	4,018,476
Charge for the year	29,624	137,425	9,351	120,800	297,200
On disposals			(19,709)	-	(19,709)
At 31August 2021	311,066	1,963,076	62,794	1,959,031	4,295,967
Net book value
At 31August 2021	1,088,934	3,736,787	80,181	584,414	5,490,316
At 31August 2020	1,118,558	3,874,212	60,391	544,979	5,598,140

	The net bo follows:	ok value ofassets held under finance leases or h	ire purchase contracts, included	above, are a
			2021	2020
	Company		5	F
	Motor vehicles		65,364	44,143
Cost	or valuation	at 31August 2021 is as follows:

Cost or valu	ation at 31August 2021 is as follows:
		Land and
		buildings
Group and	Company
Cost		6,825,743
Valuation:
Revaluation	in 2010	274 120
		7099 963

							Sub total
					Listed	Unlisted	carried
					securities	secudties	forward
Group						F
Market value
At 1 September 2020					694,269	258,720	952,989
Revaluations					123,861		123,861
At 31August	2021				818,130	258,720	1,076,850
					Sub total	Investments in
					brought	participating
					forward	interests	Total
Group					F	5	6
liilarket value
At 1 September 2020					952,989	175	953,164
Revaluations					123,861		123,861
At 31August	2021				1,076,850	175	1,077,025
Group investments		comprise:
						2021	2020
Listed investments						818,130	694,269
Unlisted investments						258,720	258,720
Participating	interests	at cost				175	175
Total market	value					1,077,025	953,164
All the fixed asset investments			are held	in the UK
					Listed	Unlisted
					securities	securities	Total
Company					6	F	6
Market value
At 1 September 2020					694,269	258,720	952,989
Revaluations					123,861		123,861
At 31August	2021				818,130	258,720	1,076,850

		2021	2020
			F
Listed investments		818,130	694,269
Unlisted	investments	258,720	258,720
Total		1,076,850	952,989

				Grou		Com n
			2021	2020	2021	2020
				F		F
Finished	goods and goods for resale		50,806	80,559
DEBTORS
				Grou		Com an
			2021	2020	2021	2020
				F
Trade debtors			1,255,820	685,892	1,212,532	676,187
Amounts	owed by group undertakings				162,169	114,350
Other debtors			21,800	29,625	21,800	26,800
Prepayments		and accrued income	255,373	48,447	175,373	42,730
			1,532,993	763,964	1,571,874	860,067

				Grou		Com n
			2021	2020	2021	2020
					F
Bank loans and overdrafts			192,384	192,384	192,384	192,384
Net obligations under finance leases
and hire	purchase contracts		12,354	11,382	12,354	11,382
Trade creditors			357,037	174,258	344,933	161,034
Other taxation and social security			140,722	280,910	133,330	280,910
Other creditors			1,708,693	1,347,462	1,708,693	1,346,874
Accruals	and deferred income		2,328,050	1,392,546	2,326,550	1,381,758
			4,739,240	3,398,942	4,718,244	3,374,342
				Grou		Com n
Deferred	income
Deferred	income at 1 September	2020	715,990	1,104,088	715,990	1,104,088
Resources deferred during the year			1,482,710	500,526	1,482,710	500,526
Amounts	released from previous	years	(667,888)	(888,624)	(667,888)	(888,624)
Deferred	income at 31August 2021		1,530,812	715,990	1,530,812	715,990

CREDITORS:	Am	oun	ts falling due afte	r more than one	year
					Grou		Com an
				2021f	2020f	2021f	2020
Bank loans				4,136,298	4,100,776	4,136,298	4,100,776
Net obligations	under		finance leases
and hire purchase		contracts		21,497	12,479	21,497	12,479
Accruals and	deferred		income	147,194	87,266	147,194	87,266
				4,304,989	4,200,521	4,304,989	4,200,521

Obligation	s u	nder	fina	nce leases and hire purchase co	ntracts, included above, are payable	as	follow	s:
					Grou	and	Com	an
					2021			2020
					6			5
Between	one	and	five	years	21,497		12,479

		Balance at 1					Balance at
		September			Transfers	Gains/	31 August
		2020	Income	Expenditure	in/out	(Losses)	2021
				5	5	F
Unrestricted	funds
General fund		(5,720,055)	9,194,901	(9,768,146)	48,256		(6,245,044)
Revaluation	reserve	4,117,382			(48,256)		4,069,126
		(1,602,673)	9,194,901	(9,768,146)			(2,175,918)
Endowment	funds
Davies Legacy		298,706	6,127	(6,960)		47,877	345,750
Restricted funds
Trust Funds		443,031	9,663	(9,663)		75,984	519,015
The Peter E.l. Lee
Scholorship	Fund	971,278	12,000	(80,551)			902,727
		1,414,309	21,663	(90,214)		75,984	1,421,742
Total offunds		110,342	9,222,691	(9,865,320)		123,861	(408,426)

		Balance at					Balance at
		1 September			Transfers	Gains/	31August
		2019	Incomef	Expenditure	in/out	(Losses)	2020f
General funds
General fund Revaluation reserve		(5,411,291) 4,163,431	7,834,860	(8,189,673)	46,049 (46,049)		(5,720,055) 4,117,382
		(1,247,860)	7,834,860	(8,189,673)			(1,602,673)
Endowment	funds
Davies Legacy		293,293	8,026	(8,450)		5,837	298,706
Restricted funds
Trust Funds		427,581	12,372	(12,372)		15,450	443,031
The Peter E.l.Lee
Scholorship Fund		1,004,778	26,040	(59,540)			971,278
		1,432,359	38,412	(71,912)		15,450	1,414,309
Total offunds		477,792	7,881,298	(8,270,035)		21,287	110,342

		Balance at 1				Balance at
		September			Gains/	31August
		2020f	Income	Expendituref	(Losses)f	2021
General funds Endowment funds		(1,602,673) 298,706	9,194,901 6,127	(9,768,146) (6,960)	47,877	(2,175,918) 345,750
Restricted	funds	1,414,309	21,663	(90,214)	75,984	1,421,742
		110,342	9,222,691	(9,865,320)	123,861	(408,426)

		Balance at				Balance at
		1 September			Gains/	31August
		2019	Income	Expenditure	(Losses)	2020
		5	6	F
General funds		(1,247,860)	7,834,860	(8,189,673)		(1,602,673)
Endowment	funds	293,293	8,026	(8,450)	5,837	298,706
Restricted	funds	1,432,359	38,412	(71,912)	15,450	1,414,309
		477,792	7,881,298	(8,270,035)	21,287	110,342

ANALYSIS OF NET ASSETS BETWEEN FUN	DS -CURRENT YEAR
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	funds
	2021	2021	2021	2021
		6		F
Tangible fixed assets Fixed asset investments	5,490,316 176	761,316	315,533	5,490,316 1,077,025
Current assets Creditors due within one year Creditors due in more than one year	1,377,819 (4,739,240) (4,304,989)	660,426	30,217	2,068,462 (4,739,240) (4,304,989)
	(2,175,918)	1,421,742	345,750	(408,426)
ANALYSIS OF NET ASSETS BETWEEN FUNDS -PRIOR YEAR
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	funds
	2020 6	2020f	2020	2020 5
Tangible fixed assets Fixed asset investments	5,598,140 174	685,331	267,659	5,598,140 953,164
Current assets	386,104	728,978	31,047	1,158,501
Creditors due within one year Creditors due in more than one year	(3,398,942) (4,200,521)			(3,398,942) (4,200,521)
	(1,615,045)	1,414,309	298,706	110,342

					Grou
				2021 8	2020f
Net expenditure for	the year (as per Statement		of Financial Activities)	(518,768)	(367,450)
Adjustment for:
Depreciation charges				297,200	298,707
Gain on investments				(123,861)	(21,287)
Dividends, interest and rents from		investments		(21,663)	(38,412)
Profit on the sale offixed assets				(5,000)
Decrease/(increase)	in stocks			29,753	(15,362)
(Increase)/decrease	in debtors			(769,029)	478,597
Increase/(decrease)	in creditors			1,399,254	(134,789)
Capital donations				(129,824)
Income attributable	to endowment			(6,127)	(8,026)
Expenditure attributable to endowment				6,960	8,450
Net cash provided	by operating	activities		158,895	200,428
ANALYSIS OF CASH AND CASH		EQUIVALENTS
					Grou
				2021	2020
Cash in hand				341	3,490
Notice deposits (less than 3months)				484,322	310,488
Total				484,663	313,978

		2021	2020
Group and Company		F	6
Amounts	payable:
Within 1	year	246,658	247,488
Between	1 and 5years	818,072	971,033
After more than 5years		2,043,746	2,251,701
Total		3,108,476	3,470,222

Company
Amounts payable:
Within 1 year	246,658	247,488
Between 1 and 5years	818,072	971,033
ARer more than 5years	2,043,746	2,251,701
Total	3,108,476	3,470,222

		2021		2020
		E		6
TRADING INCOME
Trading turnover		126,234		119,332
LESS:TRADING COST OF SALES
Purchases	89,732		53,180
Wages	22,761		25,210
TOTAL TRADING COST OF SALES		112,493		78,390
GROSS TRADING PROFIT		13,741		40,942
INVESTMENT INCOME
Investment income	291,355		176,624
Gain on investments	123,861		21,287
TOTAL INVESTMENT INCOME		415,216		197,911
LESS:OTHER TRADING EXPENSES
Corporation tax				33
NET PROFIT FROM TRADING ACTIVITIES		428,957		238,820
CHARITY INCOME
Gross fees	8,295,058		8,433,504
Bursaries, grants and allowances Registration fees	(1,620,248) 16,602		(1,710,940) 13,672
Other ancillary income	1,441,953		259,535
Government income	541,913		577,189
Donations	129,824
TOTAL CHARITY INCOME		8,805,102		7,572,960

CONSOLIDATED DETAILED INCOM FOR THE YEA	E AND EXPENDIT R ENDED 31 AUG	URE ACCOUN UST 2021	T (continued)
		2021		2020
LESS:CHARITY EXPENDITURE Wages Social security Pensions Bursaries Transport Departmental Marketing Agents commission Heat and light Rent Rates and water Refuse Maintenance Telephone Grounds maintenance Insurance Legal and professional Postage Central IT Central printing Administration Catering and cleaning Examinations Staff training Bad debts Subscriptions Recruitment costs Auditors' remuneration Depreciation Exceptional costs	5,030,941 464,187 936,824 97,174 54,005 162,240 59,140 48,856 162,562 238,064 75,707 54,089 231,581 4,716 40,608 70,853 43,116 7,699 57,727 4,220 47,808 872,865 43,256 6,382 98,684 43,380 17,310 18,560 297,200 270,873		4,099,310 388,213 715,770 67,990 45,006 168,067 54,582 50,663 298,213 235,815 131,610 46,798 226,801 11,011 60,620 60,273 18,667 7,849 64,039 1,934 36,243 722,230 46,520 8,020 107,348 34,934 22,968 18,000 298,707
TOTAL CHARITY EXPENDITURE		9,560,627		8,048,201
NET EXPENDITURE FROM CHARITABLE SOURCES		(755,525)		(475,241)

	2021	2020
	F	E
NET EXPENDITURE FROM CHARITABLE SOURCES (brought forward)	(755,525)	(475,241)
OTHER EXPENDITURE
Finance costs	(192,200)	(131,039)
NET EXPENDITURE FOR THE YEAR	(518,768)	(367,460)
Deficit in year	(518,768)	(367,450)
Funds brought forward at 1 September 2020	110,342	477,792
Funds carried forward at 31August 2021	(408,426)	110,342