2023-08-31-accounts

Salisbury Cathedral School Limited (A company limited by guarantee)

ANNUAL REPORT AND FINANCIAL STATEMENTS

for the year-ended 31 August 2023

Company number: 04461932 Charity number: 1093554

Salisbury Cathedral School Limited (A company limited by guarantee) CONTENTS

	Page
Statutory Information	l
Report ofthe Governors	2-10
Report ofthe Auditors	11-13
Statement ofFinancial Activities	14
Balance Sheet	15
Statement ofCash Flows	16
NotestotheFinancialStatements	17-31

Salisbury Cathedral School Limited (A company limited by guarantee) STATUTORY INFORMATION for the year-ended 31 August 2023

MEMBER

The Cathedral Church of the Blessed Virgin Mary of Salisbury

GOVERNORS

Dr J Fletcher — Interim chair ofGovernors Mr M C Cooke — Vice Chair (resigned 31 August 2023)

Mrs C M Cooper (resigned 31 August 2023) Mrs S Erven (resigned 4 August 2023) Ms S Lumley Mr TM Olliff-Lee Mr J Sloan

Miss L K Wallace (resigned 9 November 2022) The Revd Canon A Macham* Mrs A O Cowley (resigned 3 November 2023) Mrs J Higgs (Appointed 16 December 2022) (resigned 10 July 2023) Mr W Ings (Appointed 16 December 2022) Mr T J Crarer (Appointed 25 August 2023) Mr L Lyon-Taylor (Appointed 16 December 2022)

• Member of the Finance & General Purposes Committee

** Designated Safeguarding Governor

DIRECTORS

All Governors are recorded at Companies House as Directors.

SENIOR LEADERSHIP TEAM

Head Teacher - Mrs Sophie Baber Deputy Head Teacher - Mrs Emma Reach Head of Pre-Prep - Mrs Linda Cunningham-Brown Designated Safeguarding Lead - Mrs Karen Thomas IT Strategy Lead - Mr Duncan Hodson Finance Manager - Mr Jack Shrubsall Estates Manager - Mr Tony Marchant

ADDRESS & REGISTERED OFFICE

1, The Close Salisbury Wiltshire SP1 2EQ www.salisburycathedralschool.com

ADVISERS

BANKERS SOLICITORS AUDITORS Lloyds TSB Bank plc Wilsons LLP Fawcetts LLP, 38 Blue Boar Row Alexandra House, Windover House, Salisbury St John’s Street, St Ann Street SP11IDA Salisbury Salisbury SP13SS SP1 2DR

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT for the year-ended 31 August 2023

The Governors present their annual report together with the audited accounts for the year-ended 31 August 2023.

REFERENCE AND ADMINISTRATIVE INFORMATION

Salisbury Cathedral School (SCS) is a company limited by guarantee, incorporated on 14 June 2002, whose sole member is the Cathedral Church of the Blessed Virgin Mary of Salisbury (a corporation which acts through the body known as Chapter). The company is also a registered charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Body

Under the terms of the Articles of Association, the Directors are referred to as Governors of whom there shall not be less than eight and not more than fourteen, plus the Chairman.

Recruitment, induction and training of Governors

The Cathedral Church of the Blessed Virgin Mary of Salisbury has the power to appoint and remove Governors who are appointed for five year terms. Both the Governing Body and the Cathedral Chapter give careful consideration to new Governor appointments to ensure any skills shortages are filled. New Governors are inducted into the workings of the school, including policy and procedures at induction meetings with the Head and Clerk. Governors are encouraged to attend appropriate external training seminars and conferences.

Organisation

The Governors are legally responsible for the overall management of the school and meet at least three times a year. The work of implementing most of their policies is carried out by the members of the Finance and General Purposes Committee (F&GP) who typically meet two weeks before each meeting of the full Governing body.

The day to day running of the school is delegated to the Head Teacher, supported by their senior leadership team.

Risk Management

The Governors examine the major risks that the school faces each financial year. The Charity has developed systems to monitor and control these risks and to mitigate any impact they may have on the school’s future.

Key Management Personnel

Key Management Personnel comprises the Senior Leadership Team. The pay for Key Management Personnelis based on SCS Pay Scales and is agreed by Governors.

Volunteers

The school benefits greatly from having volunteers. These include work experience students, parents, community members and Governors.

OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES

Charitable Objects

The objects of the Charity are to promote and provide for the advancement of education and the advancement of religion in accordance with the practices of the Church of England for the benefit of the public. For the furtherance of these objects, the Charity has various permanent endowments and un-endowed trust funds held for special purposes in connection with the development of the school’s facilities and for scholarships, bursaries, prizes and other choral and educational purposes.

The Charity pursues its objects by running an IAPS accredited Preparatory School, with a Pre-Preparatory department located in the Cathedral Close.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2023

Aims & Objectives

The aims of the school are:

1.	To ensure all pupils reach theiracademic potential, through effective teaching, learning and
	assessment.
2.	To provide wide-ranging and high quality co-curricular and enrichment opportunities for all
	pupils both within andbeyond the curriculum.
3;	To ensure our school and community reflects our Christian foundation by providing the best
	possible provision for the spiritual, moral, social and cultural development ofour pupils.
4.	To provide pupils with the very highest quality ofpastoral care by valuing and supporting
	them in the diversity oftheir identities, beliefs, interests and needs.
Ds	To establish strong partnerships in our community:
	e By fostering and developing our dedication to a shared purpose with our core partners (parents,
	alumni, Salisbury Cathedral and CSA).
	e Through charitable activities and events with the widercommunity.
6.	To maintain and further develop a strong business model through careful financial
	management and an effective commercial strategy.
7.	Tonurtureanddevelopourresourceswithsustainability,coherenceandambition.

Fulfilling these aims helps to ensure that pupils leave Salisbury Cathedral School having achieved an excellent academic grounding and confidence in their abilities and having benefited from the values, cultures and disciplines of the school.

In setting objectives and in planning the activities of the school, Governors have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to the supplementary public benefit guidance on advancing education and on fee charging.

REVIEW OF ACTIVITIES & ACHIEVEMENTS

The most noticeable indicator of the school’s success is a healthy pupil roll and a full boarding house, at a time when other similar prep schools are suffering in the current economic climate. Maintaining and improving pupil numbers is one of the school’s key objectives.

Pupil Numbers

The number of pupils at the end of the school year was 228 (2022: 227) including 24 boarders (2022: 30), with casual boarding comprising 13 pupils (2022: 15).

Teaching and Learning

The school educates and prepares children to meet the standards required to enter the next school most suited to their needs. All pupils at the school gained entry to their first-choice school at 13+ and a number of pupils secured places at local grammar schools at 11+. Many children leaving the school were awarded scholarships to their next school across a range of disciplines.

The Head Teacher, Deputy Head and Head of Pre-Prep appraise all academic staff annually. The focus of these appraisals is linked to the school’s strategic plan, departmental development plans and personal targets. The Headmaster and the newly appointed Operations Manager appraises non-teaching staff.

The Key Stage | and lower Key Stage 2 curriculum, introduced two years ago, was reviewed by the Governors’ Education Committee. Pupil progress is tracked to monitor the effectiveness of teaching in this section of the school, and this has been used to develop and enhance policy and practice in the classroom. National benchmarks were used to see how pupils fared in English and maths, which helped to identify strengths in the delivery of the curriculum, and areas for development. Throughout Pre-Prep we have implemented a new phonics scheme to increase attainment and achieve a consistent approach. We are seeing excellent outcomes. We have also introduced a fine and gross motor programme called Motor Movers to address some of the challenges that we see in children's dexterity.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2023 ee

In EYFS we completed the EYFS and submitted data to the LEA, this year with a significant proportion of SEND, including an EHCP child. We have a good relationship with the EYFS advisor from the LEA who is supportive and helpful.

Heads of each academic department made time for peer observation of their colleagues, to review the effectiveness of the practical, thematic, ‘topic-based’ approach to learning in lower KS2 (Years 3 & 4). This has helped to ensure greater continuity and progression of learning across and within the cohorts. Sharing of good practice has enabled staff to be more engaged with a wider variety of teaching and learning strategies, and the specific needs of individual pupils in their care. The continued shift away from the Common Entrance (CE) assessment framework at KS3 (Years 7 & 8) was further emphasised by the vast majority of senior schools using their own frameworks alongside the ISEB pre-tests and CAT4 at 11+ and 12+. The system of assessment in Years 7 and 8 for foundation subjects has ensured that a range of assessment techniques are used to ascertain a broad representation of a pupil’s progress and attainment and learning styles. Most Year 8 pupils who were required to sit the CE exams were only expected to complete papers in the core subjects.

The Governors’ Education Committee continued a programme of inviting departmental heads to provide feedback and set out aspirations for departmental strategy and development. The Head of the Learning Support Department produced a road map with the assistance of an external advisor. Key areas to be reviewed include the deployment of teaching assistants, the system of charging for additional learning support and how the contents of Individual Educational Plans are communicated to all relevant teaching staff. The Head of Department has developed an extensive database on the school’s intranet, which allows all relevant staff to access pupil assessment data and contribute their own observations where necessary. The Head of Department chairs a section of the weekly staff meeting to flag up particular pupil’s needs and cascade good practice. In the coming year it is anticipated that all academic staff will receive dedicated training for dyslexia, ADHD and other commonly identified needs. The school is in the process of reviewing its policy on neurodiversity.

The usual varied extra-curricular programme both in terms of the number of clubs offered and opportunities for external visits such as theatre and museum visits along with opportunities to explore the local environment took place.

Music

It was another packed year of music, with peripatetic music lessons really picking up after a slight Covid lull. Our inspirational team of Visiting Music Teachers (20 of them!) who teach over 180 music lessons each week. The ensembles include various choirs (for all ages and abilities), a full orchestra, a jazz orchestra, a Concert Band, a Ceilidh band, and chamber ensembles for each of the principal sections of the orchestra.

The partnership project ‘Voices InSpire’ continued with great energy, reaching over 500 primary school children from ages 5-10, led by the School’s Director of Music and culminating in a series of concerts in the Cathedral. Once again, the school’s Christmas Carol Service was a highlight of the year, with the whole prep school singing all the carols, some of which were written by pupils. The Spring Concert was of an extremely high standard, and we were pleased to welcome Head Teachers and Directors of Music from a good number of senior schools. Several of the Directors of Music made special effort to mention how impressed they were with the number of children taking part, and the quality of the music being performed.

During the summer term, the non-competitive and extremely joyful Music Festival took place, in which there were over 120 performances all over the main school building, bringing together pupils, parents and staff in a huge variety of musicmaking, and raising money for one of the School Council’s designated charities. At the end of the summer term, the community gathered for the Picnic in the Park, for which nearly all pupils contributed to a concert of choral and instrumental works under a sunny sky. We were able to give a sizeable donation to Exeter House Special School from the proceeds of this event.

Throughout the year there were other opportunities to perform, including almost weekly Informal Concerts and trips to the Christmas Tree Festival, to St Nicholas House to share our music making.

We had super examination results in all exam sessions and were delighted with our Year 8 musicians who all won music awards to their chosen Senior Schools. They were an exceptional year, with several splendid musicians moving on to the local Grammar and state schools, and making their mark in the local youth music scene in Salisbury and further afield.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2023

Drama, Debate and Public Speaking

At Salisbury Cathedral School, we strongly believe that opportunities for involvement in drama must be exciting and inclusive. All year groups have the opportunity to partake in drama, either as part of the English timetable, play rehearsals and drama club. This year, all of the usual productions took place with an audience present. The Year 7 and 8 production of ‘The Merchant of Venice’, was a real triumph; Year 5 and 6 pupils performed the school version of the musical, ‘Moana’, and Year 3 and 4 pupils performed the musical ‘What a Knight’. In addition to the Pre-Prep Nativity, they also performed ‘Croak’.

The Year 7 and 8 pupils, as part of their leadership programme, organised a range of information evenings, which involved inviting a series of external visiting speakers to deliver a talk and field questions from the floor.

Sport and Physical Education

At Salisbury Cathedral School, we firmly believe in the integral role that physical education plays in the holistic development of our students. Our diverse sports program is designed to not only foster a love for physical activity but also instil values of teamwork, discipline, and sportsmanship.

The curriculum has been carefully curated to include a selection of sporting opportunities designed to cater to the diverse interests and abilities of our student body. From our competitive fixtures to our festivals, every endeavour is crafted with the dual purpose of stretching the boundaries of our most talented athletes while fostering a sense of joy and fulfilment in all participants.

Central to our approach is the recognition that every student possesses unique talents and capabilities, and it is our collective responsibility to nurture and celebrate these gifts. Through our tailored programs and individualised support, we aim to create an inclusive and supportive environment where every student feels valued and empowered to explore their potential to the fullest.

At Salisbury Cathedral School, our sports curriculum is meticulously designed to provide a well-balanced and diverse range of sporting opportunities for all students. The focus is on developing transferable skills and fundamental movement skills, ensuring that each child receives a comprehensive and robust physical education. For our youngest pupils in preprep, we have crafted a specific curriculum aimed at helping them formulate essential movement patterns. These foundational skills include agility, balance, and coordination, which are critical for their physical development and future sports participation.

As pupils advance to Year 3 and beyond, the curriculum shifts from general physical education themes to specific sports. This progression allows students to delve deeper into various sports, enhancing their understanding and proficiency. Our curriculum emphasises the importance of transferable skills, which are valuable across different sports disciplines. By focusing on building their knowledge and technique, we prepare students to handle competitive and pressured situations with confidence and skill.

Each term is structured to begin with a dedicated training period, during which pupils refine their skills and prepare for upcoming competitions. This training phase is crucial for developing the technical and tactical aspects of each sport. Following the training period, students have the opportunity to participate in a wide array of fixtures. These include competitive matches, friendly games, sports festivals, and prestigious IAPS (Independent Association of Preparatory Schools) competitions. This variety ensures that every student experiences the excitement and challenges of different types of sports events.

Our curriculum is designed not only to develop athletic abilities but also to foster important life skills such as teamwork, resilience, and sportsmanship. By engaging in regular fixtures, students learn to navigate the dynamics of competition, celebrate victories, and handle setbacks gracefully. The inclusion of competitive, friendly, and festival fixtures ensures that all students, regardless of their skill level, have the chance to participate and grow. Looking ahead, Salisbury Cathedral School is committed to continually enhancing our sports curriculum to better serve our students and align with best practices and community standards. Key initiatives and future plans include:

1. Curriculum Review in Line with District 5 Meetings

We plan to conduct a thorough review of our sports curriculum, guided by discussions and recommendations from District 5 meetings. These collaborative sessions with other schools and sports professionals will help us stay current with the latest trends and ensure our curriculum remains innovative and effective.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2023

2. Development of Sport Partnerships

We aim to develop strong partnerships with local sports clubs and organisations. These partnerships will provide our students with additional resources, coaching expertise, and facilities, enhancing their overall sports experience. By linking with established clubs, we can offer our students opportunities to train and compete at higher levels and in more diverse sporting environments.

3. Support with Senior School Sport Scholar Applications

To assist our talented athletes in their academic and athletic journeys, we will offer dedicated support for senior school sport scholar applications. This support will include personalised guidance, preparation for trials, and assistance with application processes, ensuring our students have the best possible chance of securing scholarships at senior schools.

4. Sport Scholarship Internal Programme

We are excited to devise an internal Sport Scholarship Programme. This initiative will identify and nurture our most promising athletes, providing them with specialised training, mentoring, and additional support to help them reach their full potential. The programme will include workshops, guest coaching sessions, and tailored development plans, ensuring our sports scholars receive comprehensive support to excel both in school and in their future sporting endeavours.

Public Benefit and Community Links

Choral Scholarships

The school is part of the Cathedral’s foundation and is intrinsically linked to the life of the Cathedral. The Cathedral and associated endowments fund choral scholarships for up to 40 boy and girl chorister and probationer choristers. In the case of financial need, the school works very closely with parents to identify and source additional means tested funding. The aspiration, in partnership with the Cathedral, is that all potential choristers who are successful at voice trials ought to be able to take up a place in the choir irrespective of parental means. In order to facilitate this, the school employs the services of an external provider to ensure that each family’s circumstances are scrutinised in detail and more objectively.

Chorister activities

Michaelmas term

The Chorister schedule from last academic year has not changed, with the children alternating weekends and Monday and Friday services. This has worked well and given a much better balance between singing and time off.

Live streaming of Sunday Eucharist and Evensong has remained and is very welcome by the congregation. In September, 3 new boy choristers were admitted to the choir, with 6 taking the position of Senior Choristers. For the girls, 3 were admitted and 4 promoted to Senior Choristers.

The Advent services were once again full, with people being turned away. Rory was installed as the Chorister Bishop, delivering a sermon to the congregation.

The Choristers were busy in the week leading up to Christmas, with some fantastic services being sung and large congregations.

Lent term

During the Lent term, 3 more girl choristers were admitted to the choir, boosting their strength.

During the Lent term the children were very busy, with the first Choir Tour in 4 years taking place to Guernsey and Jersey, who both have been added to the Salisbury Diocese. The Choristers left early Monday morning, setting sail for Guernsey, where they sang a concert in St Peter Port Town Church and Evensong in a village church. On Thursday the choir set sail again to Jersey, where they sang Evensong at St Helier Town Church and a concert at a school.

On Saturday, despite the storm from the night before, the choir headed home ona rather rocky crossing.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2023

The Tuesday after returning back, the choir was straight back to work, taking part in Holy Week. The weather was a plus, with the children getting to play outside during the breaks. The week concluded with the singing of Easter Day services which were packed out.

Trinity term

At the end of the Trinity Term, the choir took part in the Southern Cathedrals Festival in Chichester which was a great success. On the last Sunday of the choir's year, they took part in the final Eucharist and Evensong, after which tea and cake was held at school to say farewell to all those who were leaving.

Use of Facilities

Two local adult choirs use the school's facilities for rehearsals in the evenings. The Cathedral’s Junior Choir and Youth Choir also regularly rehearse in the school. In addition, the community use our premises for various events throughout the year.

Policy Review

Governors keep under review the school’s Fee Remission policy to inform development of policy and help ensure the objective ofwider access is achieved. Our current Fee Remission policy is 8% of Gross Fee Income, to enable more pupils to benefit from means tested support.

Assistance for staff

As part of our emphasis on attracting and retaining high calibre staff we currently offer a discount scheme where staff members choose to educate their children at our school if they meet the criteria in our Fee Remission policy.

Bursaries

This year the value of means tested bursaries totalled £310,498 (2022: £248,422) and represented 8.9% of our gross fees (2022: 7.5%).

Community Involvement

Links with Bishop Wordsworth’s school have continued with the joint use of various sport and music facilities. During school holiday periods, the School’s facilities are made available to visiting choirs singing the daily services in the cathedral and, during both term and holiday periods, to various local sports clubs, choirs and other community groups.

Charity support

The school supports various charity endeavours throughout the academic year, including the Salisbury Hospital’s Stars Appeal and the Salisbury based Children’s Chance, providing extra-curricular opportunities for disadvantaged children. In addition, the school supported Salisbury’s charity for the homeless, as well as the Trussell Trust. Collections from chapel services have helped to provide funding for two pupils in our link school in South Sudan.

Fund Raising

The school appointed a new Development Officer and funds have been raised to finish the swimming pool project, which includes replacing the boiler, installing new lavatories and showers, and refurbishing the changing rooms. In addition, a project to refurbish the chapel organ is well under way, and there are now plans to refurbish the outdoor learning area of the EYFS garden.

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

The results for the year are set out on page 14 of the financial statements.

The school’s total income for the period 1 September 2022 to 31 August 2023 after adjusting for school bursaries and other remissions was £3,515,266 (2022: £3,230,747). School expenditure was £3,613,627 (2022: £3,212,577). This resulted in a loss before gains on investments of £98,361 (2022: surplus of £18,170).

At the end of the year, the net assets of the school were £645,555 (2022: £747,449) out of which £256,116 (2022: £401,379) were represented by unrestricted reserves. Restricted funds amounted to £139,217 (2022: £92,315) and the

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2023

endowment funds amounted to £249,222 (2022: £253,755). Restricted and endowed funds are not available for the general purpose of the charity but must instead be used for their intended purpose.

As a Charity the parents of our pupils have the assurance that all the income of the school must be applied for educational purposes. As an educational Charity we enjoy tax exemption on our educational activities and on our investment income and gains provided these are applied for our charitable aims.

As a Charity we are also entitled to an 80% reduction on our business rates on the property we occupy for our charitable purposes. The financial benefits we receive from these tax exemptions are all applied for educational purposes and indirectly help us to maintain our bursary policies. However, as an educational charity, we are unable to reclaim VAT input tax on our costs as we are an exempt supplier for VAT purposes.

We also pay tax as an employer through the national insurance contributions we make.

In addition to the very substantial benefits our School brings to our pupils, the local community and society through the education we offer, the contribution of our choirs, our musical and sports outreach and bursary programme create a social asset without cost to the Exchequer.

Developments and Maintenance

The school continues to invest in the maintenance of its fabric and resources, with this year's focus being on general maintenance around the school, improvements to general teaching rooms in the Bishop’s Palace and the other buildings on the kitchen garden site, improvement and refurbishment work carried out at the swimming pool changing facilities and work on the outdoor environment around the pre-prep area.

Reserves and Financial Health

The Governors regularly review the finances, budgets and spend against budget as part of the effective stewardship of the school.

The deficit within unrestricted funds for the year has decreased the school’s unrestricted funds at the year-end to £256,116 (2022: £401,379).

The school holds reserves for a number of purposes, including funding current and future spending on fixed assets, financing the school’s working capital and providing a contingency against the risks and uncertainties inherent in running an independent school. The Governors’ policy is to hold sufficient reserves to cover three months of recurring expenditure and to spend any surpluses generated by the school on improving its facilities. Three months of expenditure is £890,132 and therefore the Governors are taking steps to build reserves to this level including increasing the use of school facilities for external lettings, building pupil numbers and creating efficiency savings where possible.

Investment policy

Salisbury Cathedral School Limited seeks to achieve steadily growing income and the preservation of its capital assets in real terms. It works within the parameters of the Church of England’s ethical investment policy and has its own investment policy reviewed by Governors.

FUTURE PLANS

The Governors are committed to improving facilities and are working with the Governors’ Development Committee in looking at ways in which this can be realistically achieved. The Governors support the school’s senior leaders in recognising the importance of having a paid member of school staff helping to run the development office.

The agenda for future capital projects centres on

• e improving facilities for the Early Years Foundation Stage outdoor learning area

• e move the groundsman’s maintenance facility to create space for new changing rooms, thus freeing up space elsewhere for two new general-purpose classrooms for the Prep department

• e improving the front entrance lobby and visitor welcome facilities

• e@ providing additional lavatories and hospitality space for visitors e rationalising administrative office accommodation

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2023

The Governors are working with the Cathedral Chapter to further secure the long-term future of the School.

RISK MANAGEMENT

The Governors have given consideration to the major risks to which the school is exposed. The governing body has ultimate responsibility for managing any risk faced by the school. Detailed consideration of risk is delegated to the F&GP and from there to each of the other sub-committees. The risk management process and the resulting report identifies risks, assesses their impact and likelihood and, where necessary recommends controls to mitigate and monitor those risks that are identified as high.

Principal risks and uncertainties

The board continues to identify and review the major risks to which the school is exposed. In particular, and in common with all independent schools, the school faces potential financial risks caused by external forces, including the possibility of VAT being levied on school fees and the possible removal of Business Rates Relief. These could become significant if pupil numbers diminish to any significant extent. We mitigate this through the provision of a desirable education and the marketing of this provision.

The school also faces a growing number ofcompliance and legislative requirements which the school’s management need to be aware of and adhere to. In the opinion of the Board, the school has established resources and review systems which, under normal conditions, should allow these risks to be managed to an acceptable level in its day-to-day operations.

STATEMENT OF GOVERNORS' RESPONSIBILITIES

The Governors (who are also directors of the company for the purposes of company law and trustees of the charity for the purposes of charity law) are responsible for preparing the Report of the Governors (including the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Governors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the Governors are required to:

select suitable accounting policies and then apply them consistently;

observe the methods and principles in the Charities SORP 2020 (FRS 102);

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;

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

The Governors are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2023

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the Governors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each Governor has taken all the steps that he or she ought to have taken as a Governor in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Fawcetts LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD OF GOVERNORS:

The Governors (in their capacity as directors of the company and trustees of the charity) approve the Report of the Governors and the Strategic Report for the year ended 31 August 2023.

Dr James Fletcher — Governor and Member of Finance and General Purposes Committee

Dated:/ June 2024

Company number: 04461932 Charity number: 1093554

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SALISBURY CATHEDRAL SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE)

Opinion

We have audited the financial statements of Salisbury Cathedral School Limited (the ‘charitable company’) for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of 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).

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 2023 and of its incoming resources and application of resources for the year then ended;

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

• • have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UR)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 thatthe 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 charitable company'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 Report of the Governors, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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. Our 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 thecourse 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 this gives rise toa 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.

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 Report of the Governors, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors’ report included within the Report of the Governors have been prepared in accordance with applicable legal requirements.

Company number: 04461932 Charity number: 1093554

11

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SALISBURY CATHEDRAL SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE)

Matters on which we are required to report by exception

In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Report of the Governors.

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 Governors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of Governors

As explained more fully in the Statement of Governors’ Responsibilities set out on page nine, the Governors (who are also directors of the charitable company for the purposes of company law) 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 Governors 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 Governors are responsible for assessing the charitable company’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 Governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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.

Identifying and assessing potential risks related to irregularities

Irregularities, including fraud, are non-compliance with laws and regulations. We design procedures, in line with our responsibilities, as set out in the auditor's responsibilities for the audit of the financial statements section, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, are detailed below.

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

° the nature of the charity sector, control environment and financial performance;

° results of our enquiries of management about their own identification and assessment of the risks of irregularities;

• any matters we identified having obtained and reviewed the charity's 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;

• the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations * 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 area: revenue and resource recognition. 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 have also obtained an understanding of the legal and regulatory frameworks that the company 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

Company number: 04461932 Charity number: 1093554

12

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SALISBURY CATHEDRAL SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE)

Companies Act and tax legislation.

Audit response to risks identified

As a result of performing the above, we identified revenue and profit recognition a key audit matter related to the potential risk of fraud. Our procedures to respond to risks identified included the following:

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

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating 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.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of nondetection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at 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 a Report of the Auditors 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. Simon(2. TuyEllingham FCA DChA (Senior Statutory Auditor) for and on behalf of Fawcetts LLP Chartered Accountants and Statutory Auditors Windover House, St Ann Street Salisbury SP1 2DR

Dated: US June NOT

Company number: 04461932 Charity number: 1093554

13

Salisbury Cathedral School Limited (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (and statement of income and expenditure) for the year-ended 31 August 2023

		Unrestricted	Restricted	Endowment	Total	Total
		Funds	Funds	Funds	2023	2022
	Notes	£	£	£	£	£
INCOME AND ENDOWMENTS	FROM:
Charitable activities:
Fees receivable	2	3,000,383	-	-	3,000,383	2,888,810
Other educational income	3a	225,220	-	-	225,220	197,384
Other trading activities:
Investment income	3b	9	7,158	-	7,167	7,334
Rents, lettings and otherincome		73,534	-	-	73,534	44,984
Donations		21,354	187,608	-	208,962	91,499
Government grants	4	-	-	-	-	736
Total income		3,320,500	194,766	-	3,515,266	3,230,747
EXPENDITURE ON:
Charitable activities:
Teaching costs		1,663,697	-	-	1,663,697	1,536,144
Educational support costs		1,419,567	73,407	-	1,492,974	1,339,928
Premises		403,856	53,100	-	456,956	336,505
Total expenditure	5	3,487,120	126,507	-	3,613,627	3,212,577
Gains on investments
Unrealised (losses)gains on	10	-	-	(4,533)	(4,533)	(12,322)
investments
Netincome/(expenditure)		(166,620)	68,259	(4,533)	(102,894)	5,848
Transfersbetween funds		21,357	(21,357)	-	-	-
Net movement in funds		(145,263)	46,902	(4,533)	(102,894)	5,848
Funds brought forward at
1 September2022		401,379	92,315	253,755	747,449	741,601
Fund carried forward
at31August2023		256,116	139,217	249,222	644,555	747,449

All income and expenditure arises from the charity’s continuing activities. The notes on pages 17 to 31 form part of these financial statements.

Company number: 04461932 Charity number: 1093554

14

Salisbury Cathedral School Limited (A company limited by guarantee) BALANCE SHEET as at 31 August 2023

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Notes|2023|2022| |£|£| |FIXED|ASSETS| |Intangible|assets|8|10,732|17,040| |Tangible|assets|9|287,980|281,353| |Investments|10|249,322|253,855| |548,034|552,248| |CURRENT|ASSETS| |Stock|12|40,225|32,293| |Debtors|13|109,141|91,641| |Cash|at bank|and|in|hand|777,788|935,781| |927,154|=|1,059,715| |CREDITORS:|Amounts|falling|due|within|one|year|14|(625,200)|(623,303)| |NET CURRENT|ASSETS|301,954|436,412| |TOTAL ASSETS|LESS|CURRENT LIABILITIES|849,988|988,660| |CREDITORS:|Amounts|falling|due|after more|than|one|year|15)|(205,433)|(241,211)| |NET ASSETS|644,555|747,449| |Representing:| |ENDOWED|FUNDS|17|249,222|2535755| |RESTRICTED|FUNDS|18|139,217|92,315| |UNRESTRICTED|FUNDS| |General|Fund|256,116|401,379| |TOTAL FUNDS|19|644,555|7TA7,449|

----- End of picture text -----

These financial statements have been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006. The financial statements were approved and authorised for issue by the Board of Governors on 7 June 2024 and signed on its behalf by:

Dr James Fletcher, Governor

Company number: 04461932 Charity number: 1093554

15

Salisbury Cathedral School Limited (A company limited by guarantee) STATEMENT OF CASH FLOWS for the year-ended 31 August 2023

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2023|2022| |Note|£|£| |CASH FLOWS|FROM|OPERATING|ACTIVITIES| |Net|cash|provided|by|operating|activities|22|(68,088)|115,665| |CASH FLOWS|FROM|INVESTING|ACTIVITIES| |Purchase|of tangible|fixed|assets|(60,730)|(209,404)| |Interest|received|9|5| |Dividends|received|7,158|7,329| |Proceeds|on|sale|of tangible|assets|1|-| |NET|CASH|(USED|IN)/PROVIDED|BY|INVESTING| |ACTIVITIES|(53,562)|(202,070)| |CASH FLOWS|FROM|FINANCING|ACTIVITIES| |New|loans|in year|-|250,000| |Loan|repayments|(36,343)|(8,872)| |NET|CASH|(USED|IN)/PROVIDED|BY|FINANCING| |ACTIVITIES|(36,343)|241,128| |(DECREASE)|/ INCREASE IN CASH IN THE YEAR|(157,993)|154,723| |CASH AND CASH|EQUIVALENTS AT|1|SEPTEMBER|935,781|781,058| |CASH AND|CASH EQUIVALENTS|AT|31|AUGUST|777,788|935,781|

----- End of picture text -----

Company number: 04461932 Charity number: 1093554

16

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

1 ACCOUNTING POLICIES

GENERAL INFORMATION

Salisbury Cathedral School Limited is a private charitable company limited by guarantee, incorporated and registered in England and Wales.

The address of the charitable company’s registered office and principal place of business is | The Close, Salisbury, Wiltshire, SP1 2EQ.

The company’s principal activities are disclosed in the Governor’s Report.

BASIS OF PREPARATION

These financial statements have been prepared in accordance with FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (‘FRS 102’) and under the historical cost convention, with the exception of investments which are included at market value. In accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP) (as amended for accounting periods commencing from | January 2019) and the requirements of the Companies Act 2006.

Salisbury Cathedral School Limited meets the definition under FRS102 of a public benefit entity.

These financial statements are prepared in sterling which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest whole £1, except where otherwise indicated.

GOING CONCERN

In considering whether the going concern basis is appropriate, the Governors have considered income and expenditure and cash-flow projections prepared for the period to 31 August 2024 with longer term projections to 31 August 2029 also being considered. These projections have been based on known and expected pupil numbers and costs and indicate that the school will have sufficient cash and reserves to be able to meet its liabilities as they fall due.

In light of the above the Governors have concluded that there are no material uncertainties over the school’s ability to continue as a going concern for a period of at least 12 months and as such it is appropriate to use the going concern basis in the preparation of these financial statements.

INTANGIBLE FIXED ASSETS

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Computer software 20% straight line basis

TANGIBLE FIXED ASSETS

Motor vehicles, major items of office equipment and major property improvements have been capitalised and are being depreciated over their estimated useful economic lives. Routine repairs to properties are written off in the year of acquisition, because it is not considered that they have any recoverable value. Fixed assets are initially recorded at cost. Items costing less than £500 are written off as an expense as acquired.

The following rates of depreciation are used: Motor vehicles 20% straight line basis Furniture and office equipment 10% - 33% straight line basis Property improvements 10% straight line basis

Company number: 04461932 Charity number: 1093554

17

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

1 ACCOUNTING POLICIES (continued)

STOCKS

Stocks are stated at the lower of direct cost or net realisable value. Stocks comprise of catering raw material and consumables and uniform stock. Provisions are made for obsolete stock.

INVESTMENTS AND INVESTMENT INCOME

Investments are included at market value at the balance sheet date. Any gain or loss on revaluation is taken to the statement of financial activities. Investment income is accounted for in the period in which the charity is entitled to receipt.

CONSOLIDATED FINANCIAL STATEMENTS

The charitable company has taken advantage of the exemption in section 402 of the Companies Act from the requirement to prepare consolidated financial statements. Consequently, these financial statements present the financial position and financial performance of the charitable company as a single entity.

OPERATING LEASES

The rent payable under the leases for the school buildings, Boarding House and grounds are related to the level of the fees, and is charged as expenditure in the period to which it relates. Rent payable under other operating leases is charged as expenditure ona straight line basis over the lease terms.

FEES AND SIMILAR INCOME

Fees receivable and charges for services are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the school from its restricted funds.

DONATIONS AND FUND ACCOUNTING

Donations received for the general purposes of the charity are included as unrestricted funds. Donations for purposes restricted by the wishes of the donor are taken to “restricted funds” where these wishes are legally binding on the Governors. Donations required to be retained as capital in accordance with the donor’s wishes are accounted for as “endowments” — permanent or expendable according to the nature of the restriction. Designated funds are those allocated to specific projects out of unrestricted funds, in accordance with Governors’ decisions.

EXPENDITURE

Expenditure is allocated to the charity’s principal activity where the costs can be identified as being directly related to that activity. All costs that cannot be identified as relating directly to the charity’s principal activity are categorised as either support costs or governance costs and are allocated based upon a suitable ratio applicable to the nature of the cost involved. The irrecoverable element of VAT is included with the item of expense to which it relates.

Governance costs comprise the costs of running the charity including strategic planning for its future development and external audit, any legal advice for the Governors, and all the costs of complying with constitutional and statutory requirements, such as the costs of Board and Committee meetings and of preparing statutory accounts and satisfying public accountability.

Company number: 04461932 Charity number: 1093554

18

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

1 ACCOUNTING POLICIES (continued)

PENSION COSTS

The school operates defined contribution group personal pension schemes for teachers and other employees.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash in hand, deposits held at call with banks and, other short-term liquid investments with original maturities of three months or less.

ACCEPTANCE DEPOSITS

Acceptance deposits are paid to the school to secure a place for the child at the school. Deposits held form part of the general funds of the school until the child leaves the school at which point they are credited without interest to the final payment of the fees or other sums due to the school. Deposits are held as creditors on the balance sheet and are classified as owing within one year and over one year based on when they are expected to be credited against income.

FINANCIAL INSTRUMENTS

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of listed investments which are subsequently measured at fair value.

FINANCIAL ASSETS

Fees and other debtors which are receivable within one year are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

A provision for impairment of debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in income and expenditure for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in income or expenditure.

FINANCIAL LIABILITIES

Creditors and provisions are recognised when the charitable company has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

TERMINATION BENEFITS

Termination benefits are recognised immediately as an expense when the charitable company has demonstrably committed to terminating the employment of an employee or to provide termination benefits.

Company number: 04461932 Charity number: 1093554

19

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

1 ACCOUNTING POLICIES (continued)

GOVERNMENT GRANTS

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

CRITICAL AREAS OF JUDGEMENT

In preparing the financial statements, the trustees are required to make estimates and judgements. The matters detailed below are considered to be the most important in understanding the judgements that are involved in preparing the financial statements.

Bad debt provisions

The school has recognised bad debt provisions where there is uncertainty whether specific accounts receivable are collectable. The judgements, estimates, and associated assumptions necessary to calculate these provisions are based on historical experience and other reasonable factors.

2 FEES RECEIVABLE

	2023	2022
	£	£
Gross fees receivable	3,469,675	3,310,955
Less:
Means tested bursaries	(310,498)	(248,422)
Scholarships Discounts	(1,050) (200,672)	(750) (209,115)
	2,957,455	2,852,668
Add back discounts and scholarships paid out ofrestricted funds	42,928	36,142
	3,000,383	2,888,810
Allincomefromfeesreceivablewasunrestrictedinboth2023and2022.

3 (a) OTHER EDUCATIONAL INCOME

(a) OTHER EDUCATIONALEDUCATIONAL INCOME
	2023		2022
	£		£
Reimbursements:
Chorister Holidays	64,567		63,620
Sundry Income	1,263		-
	65,830		63,620
Recoverable extras and related income	123,451		98,651
Registration fees	4,600		2,648
Uniform Shop income	31,339		32,465
	159,390		133,764
	225,220	.	197,384

All income from other educational activities was unrestricted in both 2023 and 2022.

Company number: 04461932 Charity number: 1093554

20

4 GOVERNMENT GRANTS

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

3 (b) INVESTMENT INCOME

----- Start of picture text -----
|||||| |---|---|---|---|---| |2023|2022| |£|£| |Bank|interest|received|9|5| |Dividend|income|7,158|7,329| |dyl67|7,334|

----- End of picture text -----

The income from investments was £7,167 (2022: £7,334) of which £9 (2022: £5) was unrestricted and £7,158 (2022: £7,329) was restricted.

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2023|2022| |£|£| |Coronavirus job|retention|scheme|grant|-|736|

----- End of picture text -----

Salisbury Cathedral School Limited furloughed a number of staff under the Government’s Coronavirus job retention scheme (CJRS). The income from the Coronavirus job retention scheme (CJRS) was unrestricted. The income received relates to staff costs in respect of the staff who were furloughed.

5 ANALYSIS OF TOTAL EXPENDITURE

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Staff costs|Depreciation|Other|Total|Total| |and|costs|2023|2022| |amortisation| |£|£|£|£|£| |Charitable|expenditure:| |Teaching|costs|1,631,165|-|32,532|1,663,697|1,536,144| |Educational|support|costs:| |Staff training &|recruitment|=|=|7,697|7,697|6,891| |Household|expenses|s|-|200,403|200,403|205,212| |Property|and|grounds|58,046|-|-|58,046|62,832| |Other school|running|costs|679,207|4,400|484,981|1,168,588|986,732| |Marketing|costs|46,240|46,240|62,240| |Loss/(profit)|on|disposal|of|-|-|1,391|1,391|470| |fixed|assets| |Premises|=|54.619|400,946|455,565|336,035| |Governance|costs|-|-|12,000|12,000|16,021| |2,368,418|59,019|1,186,190|3,613,627|3,212,577|

----- End of picture text -----

The expenditure on charitable activities was £3,613,627 (2022: £3,212,577) of which £3,487,120 (2022: £3,212,577) was unrestricted and £126,507 (2022: £43,730) was restricted.

Company number: 04461932 Charity number: 1093554

21

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

6 STAFF COSTS

	2023	2022
	£	£
Wages and salaries	2,020,990	1,812,130
Social security costs	162,639	149,894
Pension costs	184,789	176,549
	2,368,418	2,138,573

	2023	2022
The average numbers of employees, analysed by function, were:	Number	Number
Teaching	45	44
Household	19	20
Maintenance	2	2
Administration	12	12
	78	78

The number of employees whose emoluments (excluding pension contributions) exceeded £60,000 were:

	2023	2022
	Number	Number
£60,000-£70,000	-	1
£150,000-£160,000	1	-

Contributions to pensions were made inrespect of these employees of £21,800 (2022: £22,987).

Termination payments were made payable in respect of these employees of £24,648 (2022: nil).

The Governors have not received remuneration for their services in either year. No Governors were reimbursed any travel or expenses in either year.

Remuneration of key management personnel The remuneration of key management personnel is as follows:

Aggregate compensation (including employer’s NI)

----- Start of picture text -----
2023 2022
£ £
540,260 384,476
----- End of picture text -----

Company number: 04461932 Charity number: 1093554

22

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

7 EXPENDITURE

		2023	2022
		£	£
	Charitable activities expenditure includes:
	Operating lease charges—Building& land	106,213	108,067
	Operating lease charges - Other	16,704	16,704
	Depreciation and amortisation	59,019	41,613
	Loss on disposal offixed assets	1,391	470
	Governance costs include:
	Auditor’s remuneration:
	Audit services	12,000	16,021
8	INTANGIBLE FIXED ASSETS
			Computer
			software
			£
	COST
	At 1 September2022		31,538
	Additions — separately acquired		-
	At 31 August 2023		31,538
	AMORTISATION
	At	September2022
	Charge forthe year		6,308
	At 31 August 2023		20,806
	NETBOOKVALUE
	At 31 August 2023		10,732
	At31August2022		17,040

Company number: 04461932 Charity number: 1093554

23

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

9 TANGIBLE FIXED ASSETS

		Property improvements	Motor vehicles	Furniture and	Total
				equipment
		£	£	£	£
	COST
	At	September2022	632,407	51,339	282,583
	Additions Disposals	26,230 -	33,000 -	1,500 (79,946)	60,730 (79,946)
	At 31 August 2023	658,637	84,339	204,137	947,113
	DEPRECIATION
	At	September2022	452,828	51,339	180,809
	Charge for the year	22,630	4,400	25,681	52,711
	Elimination on disposal	-	-	(78,554)	(78,554)
	At 31 August 2023	475,458	55,739	127,936	659,133
	NETBOOKVALUE
	At 31 August 2023	183,179	28,600	76,201	287,980
	At 31 August 2022	179,579	-	101,774	281,353
10	(a)INVESTMENTS INFUNDS
					Common
					Investment
					Funds
					£
	Market value at 1 September2022				253,755
	(Loss) on revaluation				(4,533)
	Market value at31 August 2023				249,222
	Cost at 31 August 2023				104,141
	Cost at 31 August 2022				104,141
	The holdings in charitable common	investment funds consist of:		2023	2022
				£	£
	CBF Church ofEngland InvestmentFund	Fund	Units	11,584	11,584
			Value	249,222	253,755

10 (b) INVESTMENTS IN SUBSIDIARIES

Investments in subsidiaries

2023	2022
£	£
100	100

Company number: 04461932 Charity number: 1093554

24

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

11 SUBSIDIARIES

These financial statements are separate company financial statements for Salisbury Cathedral School Limited.

Details of the company’s subsidiaries at 31 August 2023 are as follows:

Name ofundertaking	Registered	Nature of	Class of	% HeldDirect
	office	business	shareholding
Salisbury Cathedral School	a)	Dormant	Ordinary	100.00
EnterprisesLtd

a) 1 The Close, Salisbury, Wiltshire, SP1 2EQ

12	STOCK
		2023	2022
		£	£
	Uniform	40,035	32,103
	Food	190	190
		40,225	32,293
13	DEBTORS
		2023	2022
		£	£
	Fees	77,081	56,172
	Prepayments and accrued income	31,977	33,584
	Other debtors	83	1,885
		109,141	91,641

14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2023	2022
	£	£
Fees received in advance	344,009	387,607
Trade creditors	30,285	65,701
Amounts owed to subsidiary	100	100
Other taxation and social security	38,693	38,593
Refundable deposits	11,970	13,134
Accruals and deferred income	14,754	43,219
Other creditors	147,206	38,307
Bank loan	38,183	36,642
	625,200	623,303

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

15 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

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||||| |---|---|---|---| |2023|2022| |£| |£| |Refundable|deposits|38,831|36,725| |Bank|loan|166,602|204,486| |205,433|241,211|

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The school has two bank loans which are due for repayment by 2027, interest is payable at 5.74% on the fixed rate bank loan and 2.93% plus the Bank of England base rate on the variable rate bank loan.

16 FINANCIAL INSTRUMENTS

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2023|2022| |£|£| |CARRYING AMOUNT|OF FINANCIAL|ASSETS| |Financial|assets|measured|at|fair value|through|profit|and|loss|249.222|253.755|

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17 ENDOWMENTS

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Movement|in|funds| |Balance|atl|Transfers|Balance|at| |September|Income|(Losses)|to|other|31 August| |2022|funds|2023| |£|£|£|£|£| |Scholarship|funds|197,675|-|(3,531)|-|194,144| |Windsor|Prize|Fund|18,007|-|(322)|-|17,685| |Fitzgerald|Scholarship|Trust|15,970|-|(285)|-|15,685| |Head|Master’s|Fund|22,103|-|(395)|-|21,708| |253,755|-|(4,533)|-|249,222| |Balance|atl|Transfers|Balance|at| |September|Income|Gains|to|other|31 August| |2021|funds|2022| |£|£|£|£|£| |Scholarship|funds|207,275|-|(9,600)|-|197,675| |Windsor|Prize Fund|18,881|-|(874)|-|18,007| |Fitzgerald|Scholarship|Trust|16,745|-|(775)|-|15,970| |Head|Master’s|Fund|23,176|-|(1,073)|-|22,103| |266,077|-|(12,322)|-|253.199|

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The above losses consist of revaluations in investment assets.

The Endowment Funds are represented by fixed asset investments. The income of all the funds must be used for restricted purposes as explained in note 18.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

18 RESTRICTED FUNDS

		Movement in funds	Movement in funds
(a) Usage offunds	Balance at1			Transfers	Balance at
	September	Income	Expenditure	to other	31 August
	2022			funds	2023
	£	£	£	£	£
Scholarship funds	17,990	5,576	(750)	-	22,816
Windsor Prize Fund	2,864	508	-	-	3,312,
Fitzgerald Scholarship Trust	7,845	223	-	-	8,068
Head Master’s Fund	2,092	1,873	(1,613)	-	2,352
John Robinson Fund	1,885	157	(290)	-	1,752
Ouseley Trust	23,659	8,500	(17,160)	-	14,999
Tindall Trust	13,410	10,500	(21,375)	-	2,535
Ukrainian bursary	3,293	350	(3,643)	-	-
Dupuy Science Prize	546	-	-	-	546
Pipe Dreams	5,300	27,779	(9,066)	-	24,013
Swimming pool	10,831	6,079	(16.910)	-	-
Sustainability Fund	-	106,250	(53,100)	-	53,150
Friends ofSCS	-	21,357	-	(21,357)	-
Griffiths Organ Sponsorship	-	5,614	-	-	5,614
Other	2,600	-	(2,600)	-	-
	92,315	194,766	(126,507)	(21,357)	139,217

		Movement in funds	Movement in funds
(a) Usage offunds	Balance atl			Transfers	Balance at
	September	Income	Expenditure	to other	31August
	2021			funds	2022
	£	£	£	£	£
Scholarship funds	25,690	$,515	(133215)	-	17,990
Windsor Prize Fund	2,362	502	-	-	2,864
Fitzgerald Scholarship Trust	7,400	445	-	-	7,845
HeadMaster’sFund	4,444	2,092	(4,444)	-	2,092
JohnRobinsonFund	2,168	-	(283)	-	1,885
Ouseley Trust	11,000	26,819	(14,160)	-	23,659
Tindall Trust	9,677	10,500	(6,767)	-	13,410
Ukrainian bursary	-	5,293	(2,000)	-	3293
Dupuy Science Prize	-	1,000	(454)	-	546
Pipe Dreams	-	5,300	-	-	5,300
Swimming Pool	-	32,323	-	(21,492)	10,831
Other	-	5,007	(2,407)	-	2,600
	62,741	94,796	(43,730)	(21,492)	92,315

Company number: 04461932 Charity number: 1093554

2]

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

(b) Usage of funds

Scholarship funds

The income from the endowments of these funds is to provide particular academic and music scholarships to pupils at the Cathedral School.

Head Master’s Fund

This fund may be spent at the Head Master’s discretion for the benefit of the Cathedral School or its pupils.

Windsor Prize Fund

This fund was set up to provide two annual prizes for musical ability, one to a chorister the other to a non-chorister. The prize has been awarded against fees due.

John Robinson Memorial Fund

This fund was donated by the Sarum Voices committee to assist a new probationer/chorister, who might otherwise be financially challenged, to have instrumental lessons for one year.

Ouseley Trust Fund

This fund was set up to provide funding to named choristers.

Tindall Trust

This fund was set up to support the music department’s outreach work.

Hardship Bursary

This fund was set up to assist individuals who were in financial difficulties, particularly due to the impact of COVID-19.

Ukrainian Bursary

This fund was set up to help the school cover the costs of giving places to two Ukrainian pupils.

Dupuy Science Prize

This fund was donated bya parent to create an annual prize that recognises achievement in Science.

Pipe Dreams This fund was created in order to raise funds to refurbish the school organ as well as to create two organ scholarships.

Swimming pool

This fund was created to raise funds in order to refurbish the swimming pool plant equipment and changing rooms.

Sustainability Fund

This fund was created to raise funds for projects that reduced carbon emissions and help contribute to an efficient and sustainable school environment.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

Friends of SCS Fund

This fund was created for fundraising activities undertaken by the PTA. All funds are transferred to unrestricted funds during the year.

Griffiths Organ Sponsorship Fund

This fund was set up to provide funding for organ scholars.

Other restricted funds

This fund was donated by a parent of an ex-student to be used, at the discretion of the school, to help other families in need of financial assistance

19 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31 August 2023 are represented by the following net assets:

	Unrestricted	Restricted	Endowment
	Funds	Funds	Funds	Total
	£	<	£	£
Intangible fixed assets	10,732	-	-	10,732
Tangible fixed assets	287,980	-	-	287,980
Investments	100	-	249,222	249,322
Current assets	787,937	139,217	-	927,154
Current liabilities	(625,200)	-	-	(625,200)
Long term liabilities	(205,433)	-	-	(205,433)
	256,116	139,217	249,222	644,555

Fund balances at 31 August 2022 are represented by the following net assets:

	Unrestricted	Restricted	Endowment
	Funds	Funds	Funds	Total
	£	£	£	£
Intangible fixed assets	17,040	-	-	17,040
Tangible fixed assets	281,353	-	-	281,353
Investments	100	-	253199	253,855
Current assets	967,400	92,315	-	1,059,715
Current liabilities	(623,303)	-	-	(623,303)
Longterm liabilities	(241,211)	-	-	(241,211)
	401,379	92.315	253,755	TAT,A449

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

20 PENSIONS

Royal London Pension Fund

The School operates a defined contribution scheme with Royal London for its teaching staff.

The pension charge for the year includes contributions payable to the scheme of £166,136 (2022: £152,329) and at the year-end £47,223 (2022: £21,619) was payable and included within creditors.

Support Staff Pension Fund

The School operates a defined contribution scheme. Total employer contributions for the year were £18,653 (2022: £24,220).

The total pension contributions outstanding at 31 August 2023 amounted to £5,359 (2022: £6,503).

21 COMMITMENTS

At the reporting date, the total of the school's future minimum lease payments under non-cancellable operating leases was:

	2023	2022
	£	£
Leases which expire:
Within one year	119,901	121,704
In one to five years	12,494	11,771
	132.395	133,475

22 NOTES TO THE STATEMENT OF CASH FLOWS

Reconciliation of net income to net cash inflow from operating activities:

			2023	2022
			£	£
Net income			(102,894)	5,848
Depreciation oftangible assets			§2.711	35,305
Amortisation ofintangible assets			6,308	6,308
Loss/(profit) on disposal offixed assets			1,391	470
Revaluation ofinvestments			4,533	12,322
Interest received			(9)	(5)
Dividends received			(7,158)	(7,329)
(Increase)/decrease in stocks			(7,932)	(399)
Decrease/(increase) in debtors			(17,500)	31,803
Increase/(decrease) in creditors			2,462	31,342
			(68,088)	115,665
Analysis ofchanges in net funds:
	At 1 September	Cash flow	At31 August
	2022			2023
	£	£		£
Cashatbankandinhand	935,781	(157,993)		777,788

Analysis of changes in net funds:

Company number: 04461932 Charity number: 1093554

30

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023

23 TRANSACTIONS WITH RELATED PARTIES

(a) Transactions with the Member

The School’s land and buildings are leased from The Cathedral Church of the Blessed Virgin Mary of Salisbury and from trusts managed and controlled by them. The rent payable during the year-ended 31 August 2022 was £106,213(2022: £108,067).

The Cathedral Church of the Blessed Virgin Mary of Salisbury reimbursed expenses incurred by the School for administering the choirs and accommodating them during school holidays at a cost of £63,000 (2022: £63,000). The Cathedral also made contributions to school fees of £297,336 (2022: £240,289).

No amounts were outstanding at the year-end (2022: £nil).

(b) Transactions with Governors

Christine Cooper School Uniform, a company owned by a Governor of the school, made sales to Salisbury Cathedral School in the year of £4,687 (2022: £3,455). At the year-end £nil was outstanding (2022: £nil).

Total donations received from Governors during the year amounted to £545 (2022: £545). No amounts were outstanding at the year-end (2022: £nil).

(c) Transactions with Subsidiary Company

At the balance sheet date, the charity owed Salisbury Cathedral School Enterprises Limited £100 (2022: £100).

Company number: 04461932 Charity number: 1093554

31