2023-08-31-accounts - Durham Cathedral Schools Foundation

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				Page
Reference and administrative		details ofthe Company,	its Trustees and advisers
Trustees' report				2-11
Independent	auditom' report	on the financial statements		12 - 15
Consolidated	statement offinancial activities			16
Consolidated	balance sheet			17
Company balance sheet				18
Consolidated	statement ofcash flows
Notes tothe	financial statements			20-43

Trustees			R Ribchester, Chair
			Q Anstee (resigned		7	July 2023)
			K Ballantyne
			SDobson
			K Fenwick (resigned		22 March 2024)
			M Hampel
			R Hillier
			J Hind
			G Hodgson
			M Regan (resigned		7	July 2023)
			K Richards
			J Robson (resigned		7	July 2023)
			N Turner
			M Martin (appointed		16October 2023)
			C Elliott (appointed		9	September 2023)
			T Mole (appointed	14		December 2023)
			P Plyming (appointed			11January 2024)
Company	registered
number			02776914
Charity registered
number			1023407
Registered		office	The Bursars Office
			Durham School
			Durham
			DH1 4SZ
Company	secretary		EC Mussell
Headmaster			KJ McLaughlin
Independent		auditors	Clive Owen LLP
			Chartered Accountants
			Statutory Auditors
			Kepier House
			Belmont Business Park
			Durham
			DH1 1TW
Bankers			Barclays Bank PLC
			6 Market Place
			Durham
			DH1 3NB
Solicitors			Swinburne Maddison			LLP
			Venture House
			Aykley Heads Business Centre
			Durham
			DH1 5TS

				FOR THE YEA	R ENDED 31A	UGUST 2023
				Endowment	Restricted	Unrestricted	Total	Total
				funds	funds	funds	funds	funds
			Note	2023f	2023 f	2023 f	2023f	2022 F
Income and
endowments		from:
Donations and
legacies					400,093	15,205	415,298	459,472
Charitable activities					(29,857)	11,798,104	11,768,247	9,337,611
Other trading	activities					201,068	201,068	209,154
Investments				8,522	26,420	362,259	397,201	395,979
Total income		and
endowments				8,522	396,656	12,376,636	12,781,814	10,402,216
Expenditure	on:
Raising funds						481,000	481,000	376,617
Charitable activities					9,688	12,691,251	12,700,939	10,572,287
Total expenditure					9,688	13,172,251	13,181,939	10,948,904
Net
income/(expenditure
) before net losses
on investments				8,522	386,968	(795,615)	(400,125)	(546,688)
Net losses on
investments				(5,862)	(8,562)		(14,424)	(38,878)
Net movement		in
funds				2,660	378,406	(795,615)	(414,549)	(585,566)
Reconciliation		of
funds:
Total funds brought
forward				315,330	1,638,172	(2,947,494)	(993,992)	(408,426)
Net movement		in
funds				2,660	378,406	(795,615)	(414,549)	(585,566)
Total funds carried
forward				317,990	2,016,578	(3,743,109)	(1,408,541)	(993,992)

			DURHAM CATHEDRAL	DURHAM CATHEDRAL	DURHAM CATHEDRAL	DURHAM CATHEDRAL	SCHOOLS FOUNDATION	SCHOOLS FOUNDATION
				(A	company	limited		by guarantee)
				REGISTERED NUMBER: 02776914
				CONSOLIDATED			BALANCE SHEET
					AS AT 31 AUGUST 2023
								2023		2022
					Note			6		6
Fixed assets
Tangible assets					13			5,216,372		5,312,643
Investments					14			1,024,824		1,038,147
								6,241,196		6,350,790
Current assets
Stocks					15			6,165	3,366
Debtors					16		1,392,775		1,387,565
Cash at bank	and	in hand						83,139	153,598
							1,482,079		1,544,529
Creditors: amounts		falling	due within	one
year					17		(5,129,104)		(4,850,635)
Net current	liabilities							(3,647,025)		(3,306,106)
Total assets	less	current	liabilities					2,594,171		3,044,684
Creditors: amounts		falling	due after	more
than one year					18			(4,002,712)		(4,038,676)
Net liabilities excluding			pension asset					(1,408,541)		(993,992)
Total net assets								(1,408,541)		(993,992)
Charity funds
Endowment	funds				20			317,990		315,330
Restricted funds					20			2,016,578		1,638,172
Unrestricted	funds				20			(3,743,109)		(2,947,494)
Total funds								(1,408,541)		(993,992)

		COMPANY	STATEMENT	OF FINANCIAL	POSITION
			AS AT 31 AUGUST 2023
					2023		2022
			Note		F		6
Fixed assets
Tangible assets			13		5,216,372		5,312,643
Investments			14		1,024,649		1,037,972
					6,241,021		6,350,615
Current assets
Debtors			16	1,275,200		1,477,165
Cash at bank and	in hand			33,458		5,187
				1,308,658		1,482,352
Creditors: amounts	falling	due within one
year			17	(5,034,566)		(4,824,293)
Net current liabilities					(3,725,908)		(3,341,941)
Total assets less	current	liabilities			2,515,113		3,008,674
Creditors: amounts	falling	due after more
than one year			18		(4,002,712)		(4,038,676)
Net liabilities excluding		pension asset			(1,487,599)		(1,030,002)
Total net assets					(1,487,599)		(1,030,002)
Charity funds
Endowment funds			20		317,990		315,330
Restricted funds			20		2,016,578		1,638,172
Unrestricted funds			20		(3,822,167)		(2,983,504)
Totalfunds					(1,487,599)		(1,030,002)

	FOR THE	YEAR ENDED 31 AUGUST 202	3
			2023 9	2022f
Cash flows from operating	activities
Net cash used in operating	activities		238,677	(228,148)
Cash flows from investing	activities
Dividends, interests and rents from investments			26,420	15,341
Purchase oftangible fixed assets			(122,588)	(135,120)
Net cash used in investing	activities		(96,168)	(119,779)
Cash flows from financing	activities
Repayments ofborrowing			(121,430)	(56,299)
Repayments offinance leases			(35,408)	(5,941)
Receipt ofendowment			8,522	8,458
Net cash used in financing	activities		(148,316)	(53,782)
Change in cash and cash	equivalents in	the year	(5,807)	(401,709)
Cash and cash equivalents	at the beginning	ofthe year	82,954	484,663
Cash and cash equivalents	at the end of	the year	77,147	82,954
The notes on pages 20to43form part ofthese financial statements

					Restricted	Unrestricted	Total	Total
					funds	funds	funds	funds
					2023	2023	2023	2022
					6	6	6	6
	Donations
	Donations				54,402	15,205	69,607	459,472
	Exceptional	item - unclaimed		deposits
	released				345,691		345,691
	Subtotal detailed disclosure				400,093	15,205	415,298	459,472
					400,093	15,205	415,298	459,472
	Total 2022				459,472		459,472
4.	Income from charitable		activities

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2023	2023	2023	2022
		6	6	6	6
School fees income			12,355,409	12,355,409	10,299,905
Bursaries,	grants and allowances	(60,041)	(2,004,033)	(2,064,074)	(1,857,385)
Other ancillary fees		30,184	1,446,728	1,476,912	895,091
		(29,857)	11,798,104	11,768,247	9,337,611
Total 2022		(73,911)	9,411,522	9,337,611

						Unrestricted	Total	Total
						funds	funds	funds
						2023	2023	2022
						6	6	6
	Trading subsidiary		income			201,068	201,068	209,154
	Total 2022					209,154	209,154
6.	Investment	income
				Endowment	Restricted	Unrestricted	Total	Total
				funds	funds	funds	funds	funds
				2023	2023 6	2023 f	2023 6	2022 F
	Investment	income		8,522	26,420	362,259	397,201	395,979
	Total 2022			8,458	15,341	372,180	395,979
7.	Costs ofraising funds
						Unrestricted	Total	Total
						funds	funds	funds
						2023	2023	2022
						F	F
	Finance costs					326,758	326,758	223,098
	Trading subsidiary		expenditure			154,242	154,242	153,519
						481,000	481,000	376,617
	Total 2022					376,617	376,617

					Restricted	Unrestricted
					funds	funds	Total	Total
					2023 6	2023 E	2023f	2022
Educational	charitable	activities			9,688	12,596,695	12,606,383	10,522,916
Governance	costs					94,556	94,556	49,371
					9,688	12,691,251	12,700,939	10,572,287
Total 2022						10,572,287	10,572,287
Summary	by expenditure		type
				Staff costs	Depreciation	Other costs	Total	Total
				2023 f	2023 F	2023 f	2023 E	2022 6
Educational	charitable	activities		7,122,917	294,966	5,188,500	12,606,383	10,522,916
Governance						94,556	94,556	49,371
				7,122,917	294,966	5,283,056	12,700,939	10,572,287
Total 2022				6,547,377	312,793	3,712,117	10,572,287

				Support	Total	Total
			Direct costs	costs	funds	funds
			2023	2023	2023	2022
			5		5
Educational	charitable	activities	5,857,552	6,748,831	12,606,383	10,522,916
Governance				94,556	94,556	49,371
			5,857,552	6,843,387	12,700,939	10,572,287
Total 2022			5,504,248	5,068,039	10,572,287

		Educational
		charitable	Total	Total
		activities	funds	funds
		2023	2023	2022
		E	E	F
Staff costs		4,898,048	4,898,048	5,096,053
Educational	costs	925,164	925,164	376,114
Welfare		34,340	34,340	32,081
		5,857,552	5,857,552	5,504,248
Total2022		5,504,248	5,504,248

		Educational
		charitable		Total	Total
		activities	Governance	funds	funds
		2023	2023f	2023f	2022 F
Staff costs		2,224,869		2,224,869	1,451,324
Depreciation		294,966		294,966	312,793
Welfare		1,567,732		1,567,732	1,344,237
Support costs ofschooling		1,070,608		1,070,608	622,398
Premises		1,590,656		1,590,656	1,287,916
Governance	costs			94,556	49,371
		6,748,831	94,556	6,843,387	5,068,039
Total 2022		5,018,668	49,371	5,068,039

				2023	2022
				6	6
Depreciation -owned		assets		288,737	303,933
Depreciation -assets		on	finance lease	6,228	8,860
Auditors'	remuneration	-audit		18,560	18,560
Operating	lease payments		- land and buildings	343,777	158,635
Operating	lease payments		-other	44,016	13,261

				Group	Group	Company	Company
				2023	2022	2023	2022
				6		6	6
Wages and	salaries			5,620,685	5,234,402	5,519,170	5,167,594
Social security costs				557,085	500,298	555,932	500,298
Contribution	to defined	contribution	pension
schemes				945,147	812,677	940,569	812,677
				7,122,917	6,547,377	7,015,671	6,480,569

		Group	Group
		2023	2022
		No.	No.
Teaching staff		88	92
Non-teaching	staff	95	88
		183	180

Group	Group
2023	2022
No.	No.

		Long-term	Short-term
	Freehold	leasehold	leasehold	Motor	Fixtures	Computer
	property 6	property f	property 6	vehicles 6	and fittings 6	equipment 6	Total 8
Cost
At 1 September
2022	1,400,000	5,549,876	149,987	218,688	2,253,935	372,301	9,944,787
Additions				135,208	47,162	30,426	212,796
Disposals				(33,845)			(33,845)
At 31 August
2023	1,400,000	5,549,876	149,987	320,051	2,301,097	402,727	10,123,738
Depreciation
At 1 September
2022	340,690	1,946,304	149,987	81,488	1,817,694	295,981	4,632,144
Charge for the
year				19,985	80,826	28,986	294,965
On disposals				(19,743)			(19,743)
At 31 August
2023	370,314	2,081,848	149,987	81,730	1,898,520	324,967	4,907,366
Net book value
At 31August
2023	1,029,686	3,468,028		238,321	402,577	77,760	5,216,372
At 31August
2022	1,059,310	3,603,572	-	137,200	436,241	76,320	5,312,643

	Listed	Unlisted	Investment	in
	investments	investments	joint ventures		Total
Group	5	5		F	F
Cost or valuation
At 1 September 2022	779,251	258,720		176	1,038,147
Revaluations	(13,323)				(13,323)
At 31August 2023	765,928	258,720		176	1,024,824
			Investments
	Listed	Unlisted	in subsidiary
	investments	investments	companies		Total
Company	F	6		F	5
Cost or valuation
At 1 September 2022	779,251	258,720		1	1,037,972
Revaluations	(13,323)				(13,323)
At 31 August 2023	765,928	258,720		1	1,024,649

						Group	Group
						2023	2022
						5	F
Finished	goods	and	goods	for	resale	6,165	3,366

		Group	Group	Company	Company
		2023 5	2022f	2023	2022 5
Due within one year
Trade debtors		1,042,284	1,183,503	951,167	1,050,222
Amounts owed by group undertakings				200,966	244,288
Other debtors		54,309		47,560
Prepayments	and accrued income	296,182	204,062	75,507	182,655
		1,392,775	1,387,565	1,275,200	1,477,165

				Group	Group	Company	Company
				2023	2022	2023	2022
				6		6	6
Bank overdrafts				5,992	70,644	5,992	70,644
Bank loans				208,750	252,893	208,750	252,893
Trade creditors				1,043,680	582,761	954,992	568,112
Other taxation and	social security			274,455	129,495	274,455	126,175
Obligations under finance lease and hire
purchase contracts				22,201	8,724	22,201	8,724
Other creditors				1,185,623	1,344,678	1,185,623	1,337,805
Accruals and deferred		income		2,388,403	2,461,440	2,382,553	2,459,940
				5,129,104	4,850,635	5,034,566	4,824,293
				Group	Group	Company	Company
				2023 6	2022 F	2023f	2022 6
Deferred income at 1		September	2022	2,318,856	2,780,879	2,318,856	2,780,879
Resources deferred	during the year			2,222,369	2,337,176	2,222,369	2,337,176
Amounts released	from previous		periods	(2,318,856)	(2,799,199)	(2,318,856)	(2,799,199)
Deferred income at		31 August	2023	2,222,369	2,318,856	2,222,369	2,318,856

		Group	Group	Company	Company
		2023	2022	2023	2022
		6	6	6	F
Bank loans		3,942,203	4,019,490	3,942,203	4,019,490
Net obligations	under finance lease and hire
purchase contracts		60,509	19,186	60,509	19,186
		4,002,712	4,038,676	4,002,712	4,038,676

Secured debts
		2023	2022
		6	6
Bank overdraRs		5,992	70,644
Bank loans		4,150,953	4,272,383
Finance leases and hire purchase	contracts	82,710	27,910

		Balance at 1					Balance at
		September			Transfers	Gains/	31 August
		2022f	Income	Expenditure	in/out E	(Losses) 6	2023 6
Unrestricted
funds
General Funds
- all funds		(6,968,930)	12,376,636	(13,172,251)	56,131		(7,708,414)
Revaluation
reserve		4,021,436			(56,131)		3,965,305
		(2,947,494)	12,376,636	(13,172,251)			(3,743,109)
Endowment
funds
Endowment
Funds - all
funds		315,330	8,522			(5,862)	317,990
Restricted
funds
Restricted
Funds - all
funds		522,356	13,520			(8,562)	527,314
The Peter	E.l.
Lee
Scholarship
Fund		867,603	(38,307)				829,296
The Catherine
Cookson
Charitable	Trust	248,213					248,213
Restricted
Legacy			20,000				20,000
Self Funded
Balances			34,402	(9,688)			24,714
Donated
Deposits			345,691				345,691
Burkitt
Scholarships			21,350				21,350
		1,638,172	396,656	(9,688)		(8,562)	2,016,578
Total offunds		(993,992)	12,781,814	(13,181,939)		(14,424)	(1,408,541)

Statement	offu	nd	s - prior year
			Balance at						Balance at
		1	September				Transfers	Gains/	31August
			2021	Income F	Expenditure	f	in/out	(Losses)f	2022 6
Unrestricted
funds
General Fund			(6,245,044)	10,177,328	(10,948,904)		47,690		(6,968,930)
Revaluation
reserve			4,069,126				(47,690)		4,021,436
			(2,175,918)	10,177,328	(10,948,904)				(2,947,494)
Endowment
funds
Davies Legacy			345,750	8,458				(38,878)	315,330
Restricted
funds
The Peter	E.l.
Lee
Scholarship
Fund			519,015	3,341					522,356
The Catherine
Cookson
Charitable	Trust		902,727	(35,124)					867,603
Restricted
Legacy				248,213					248,213
			1,421,742	216,430					1,638,172
Total offunds			(408,426)	10,402,216	(10,948,904)			(38,878)	(993,992)

Analysis of net assets between funds -	current year
	Endowment	Restricted	Unrestricted	Total
	funds	funds	funds	funds
	2023	2023	2023	2023
	6	6	6	6
Tangible fixed assets			5,216,372	5,216,372
Fixed asset investments	295,169	470,759	258,896	1,024,824
Current assets	22,821	1,545,819	(86,561)	1,482,079
Creditors due within one year			(5,129,104)	(5,129,104)
Creditors due in more than one year			(4,002,712)	(4,002,712)
Total	317,990	2,016,578	(3,743,109)	(1,408,541)

	Endowment	Restricted	Unrestricted	Total
	funds	funds	funds	funds
	2022	2022	2022	2022
	6	6		F
Tangible fixed assets			5,312,643	5,312,643
Fixed asset investments	300,595	737,376	176	1,038,147
Current assets	14,735	900,796	628,998	1,544,529
Creditors due within one year			(4,850,635)	(4,850,635)
Creditors due in more than one year			(4,038,676)	(4,038,676)
Ttl	315,330	1,638,172	(2,947,494)	(993,992)

				Group	Group
				2023	2022
				F	6
Net expenditure for	the year (as per Statement ofFinancial Activities)			(414,549)	(585,566)
Adjustments for:
Depreciation charges				294,965	312,793
Gains on investments				13,323	38,879
Dividends, interests	and rents	from investments		(26,420)	(15,341)
Loss on the sale of	fixed assets			14,102
Decrease/(increase)	in stocks			(2,799)	47,440
Decrease/(increase)	in debtors			(5,210)	145,428
Increase/(decrease)	in creditors			373,787	(163,323)
Income attributable	to endowment			(8,522)	(8,458)
Net cash provided	by/(used	in) operating	activities	238,677	(228,148)

Analysis	ofcash and cash equivalents	ofcash and cash equivalents
			Group	Group
			2023	2022
			E	E
Cash in	hand		717	(193)
Cash at	bank		82,422	153,791
Overdraft	facility repayable	on demand	(5,992)	(70,644)
Total cash and cash equivalents			77,147	82,954

				At 1
				September		New finance	At 31August
				2022	Cash flows 6	leases F	2023 f
Cash at bank and		in hand		153,598	(70,459)		83,139
Bank overdraRs	repayable		on demand	(70,644)	64,652		(5,992)
Debt due within	1	year		(252,893)	44,143		(208,750)
Debt due after 1 year				(4,019,490)	77,287		(3,942,203)
Finance leases				(27,910)	35,408	(90,208)	(82,710)
				(4,217,339)	151,031	(90,208)	(4,156,516)

Principal su	Principal su	bsidiaries and joi	bsidiaries and joi	bsidiaries and joi	nt venture	nt venture	s	s
The following		was a subsidiary			undertaking		ofthe Company:
Name							Company	Registered		office		or principal		Class of
							number	place ofbusiness						shares
Durham	School Trading			Limited			04175538	The	Grove,	Durham		School,		Ordinary
								Quarryheads			Lane,	Durham,	Co
								Durham, DH1			4SZ
Holding		Included	in
		consolidation
100/o		Yes
The financial		results of	the subsidiary			for	the year were:
Name									Income F		Expenditure		6	Net assetsf
Durham	School Trading			Limited					563,270			320,221		79,060