2023-08-31-accounts

Company Registration Number: 06257502 (England & Wales)

DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 AUGUST 2023

DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

CONTENTS

	Page
Reference and administrative details	1-2
Trustees’ report	3-12
Statement of trustees’ responsibilities	13
Independent auditors’ report on the financial statements	14-17
Statement of financial activities incorporating income and expenditure account	18
Balance sheet	19
Statement of cash flows	20
Notestothefinancialstatements	21-42

DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS

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Trustees	H McMillan, Chair1
	Rev Canon M Everitt, Chair (resigned 8 March 2023)1
	K Barker3
	A Beattie
	K Harrison1
	Dr M Hyder
		Meston (resigned 30 September 2022)
	R Metcalfe (resigned 31	August 2022)
	A Ryan (appointed 9 March 2023)
	1 Member of the Finance and General Purposes Committee
	2 Nominated Trustee by	the Bishop of Durham
	3 Nominated Trustee by	the Bishop of Jarrow
Company registered
number	06257502
Company name	Durham High School for	Girls
Principal and registered	Farewell Hall
office	South Road
	Durham
	DH1 3TB
Charity number	1119995
Chiefexecutive officer	=M Hill
Key Executives
	M Hill, Acting Principal
	D Todd, Director of Finance and Business
	J Hall, Director of Marketing
	L Middleton, Assistant Principal D Smith, Assistant Principal
	K Hall, Head of Pre-Prep
	C Hopper, Head of Prep
Independent auditors	Clive Owen LLP
	Chartered Accountants and Statutory Auditors
	140 Coniscliffe Road
	Darlington
	Co Durham
	DL3 7RT
Bankers	HSBC
	1 Saddler Street
	Durham
	County Durham
	DH1 3NR
Solicitors	HCR Legal LLP
	Ellenborough House
	Wellington Street
	Cheltenham
	GL50 1YD
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DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2023

Investment advisors

Insurance Brokers

CCLA Investment Management Limited One Angel Lane London EC4R 3AB Marsh Education Practice Capital House 1 - 5 Perrymount Road Haywards Heath West Sussex RH16 3SY

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2023

The Trustees of Durham High School for Girls, who are also the Directors of the Charitable Company for the purposes of the Companies Act 2006, present their annual report for the year ended 31 July 2023. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Structure, governance and management

Governing Document

Durham High School for Girls is a company limited by guarantee governed by its Memorandum and Articles of Association dated 23 May 2007, as amended by special resolutions dated 22 November 2012, 18 November 2021 and 17 November 2022, registered company number 06257502. It is a registered charity with the Charity Commission of England and Wales, charity number 1119995.

The Trustees of Durham High School for Girls are also the directors of the charitable company for the purposes of company law.

Details of the Trustees who served during the , and to the date these accounts are approved are included in the Reference and administrative details on page 1.

Method of recruitment and appointment or election of Trustees

The Governing Body consists of three Co-opted Trustees and three Nominated Trustees, all of whom are appointed for terms of three years and they can be re-elected for up to two further terms.

The Co-opted Trustees are Co-opted by the existing Trustees.

Trustees are formally appointed at the Annual General Meeting (AGM) but may also be appointed by the Board at any time on a temporary basis until formal appointment at the next AGM.

Procedures are in place to identify and recruit suitable individuals to provide strength and balance to the Board. Areas of expertise considered are education, finance, child welfare, legal, marketing, further education and estates planning.

Policies adopted for the induction and training of Trustees

New Trustees are made aware of their duties and responsibilities by the Chairman and Senior Leadership team. All new Trustees spend time in School with senior staff and are provided with appropriate documentation. They are also given opportunities to attend courses run by The Association of Governing Bodies of Independent Schools (AGBIS) and other educational organisations.

Organisational structure and decision making

The Trustees determine the strategy and vision for the School and the day to day management is delegated to the Senior Leadership team.

The Trustees have termly meetings and will meet more frequently if necessary. There are committees which meet in addition to full board meetings: these are Finance and General Purposes, Audit and Compliance, Education, Buildings and Estates and Search & Nominations Committees. Trustees also attend meetings in regard to Health and Safety, Safeguarding and Salaries. Where a sub-committee is unable to meet, its business is added to full governor meeting agendas.

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2023

Structure, governance and management (continued)

Arrangements for setting pay and remuneration of key management personnel

The remuneration of key management personnel is set by the Trustees through the Salaries Committee. The banded salary ranges employed are routinely benchmarked against those of other independent (and state) schools which allows the School to remain an attractive employer.

The bands are reviewed annually and generally an inflationary increase is applied. This is dependent upon the financial success of the School. Progression within the bands is based upon experience and responsibility for all levels of staff.

Related parties and other connected charities and organisations

None of the Trustees receive remuneration or other benefit from their work with the School.

Some Trustees have children or grandchildren attending the School. This does not affect their capability to make independent and fair decisions but, if there is a specific situation where there may be conflict, Trustees will declare their interest.

Objectives and activities

Objects and aims

Charitable Objects

The object of Durham High School for Girls shall be the provision and conduct in or near the City of Durham of a day school, including nursery education facilities, for primarily girls, but boys may be admitted to the nursery and junior department.

Aims and Intended Impact

The aims of Durham High School for Girls are: ° To create a friendly, caring community, based on Christian principles, where every individual is valued; ° To develop the positive potential of every girl in all areas of her life; and ° To encourage academic excellence anda life-long love of learning.

Trustees believe the fulfilment of these aims will enable current and former pupils to contribute most effectively to the wider community.

In the furtherance of these aims the Directors, as the charity Trustees, have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's published general and relevant sub-sector guidance concerning the operation of the Public Benefit requirement under that Act.

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DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2023

Objectives and activities (continued)

Objectives, strategies and activities

Objectives for the Year

As set out in our previous statements, our focus for the year has been the integration of the Junior and Senior areas of the school to focus on an integrated 3-18 year old education. This has allowed us to bring expertise from the senior school into specialised lessons in the Prep. School for Music, IT, Languages and Science, enhancing the pedagogy in this area. We have also concentrated on further developing the Pre-Prep to continue to differentiate our educationally led provision over local play-based nursery and Pre-Prep provision.

In senior school further work has been undertaken to review subject specialisms and conduct detailed work studies in key areas. Staff have supported this work and continue to show excellent preparation and schemes of work as demonstrated in showcase presentations to the Education Committee on a regular basis. This work will continue to develop alongside the development of the Digital Strategy programme currently underway.

In senior school in particular work has been focussed on pupils’ mental health and wellbeing with staff leads and pupil advocates giving support and guidance where needed. Working alongside the in-house counsellor and using key external resources a core of support is available to all staff and pupils. Our excellent Safeguarding Provision has supported pupils and parents where needed, liaising with local authority bodies as and when required.

Extra curricular activity is in full swing, having recovered fully from the post-covid period. Sport and our PE department continue to punch above their weight, outperforming much larger schools in a number of areas, including competing locally and nationally. Pupils are supported out of school where they are able to compete on a national platform.

Duke of Edinburgh expeditions in particular have been in full swing visiting the Yorkshire Dales, Lake District etc on expeditions for Bronze, Silver and Gold awards. We have also been able to recommence trips, with pupils enjoying residential visits and international trips. Prep school residential trips for Year 6 and Year 9 to Ford Castle have been well supported and provide a chance for pupils to experience life away from home while in a safe environment.

Trips to Greece, The Philippines, Italy (where over 60 pupils enjoyed the first ski trip for several years) and extensive geography field trips are part of the wide array of experiences on offer.

Planning is already underway for trips to New York, Normandy, Lakeside Outdoor Centre, and, of course, Ford Castle, with a further ski trip in planning for late 2024.

These trips and events widen our educational offer and provide a richness of experience to support work in the classroom. They also serve to broaden pupils’ experiences and skills to adapt and thrive once girls move beyond Durham High School.

Autumn 2023 saw the commencement of our IT development with personalised laptops rolled out to all teaching staff and initially to Year 6, 7 and 8. The use of single devices will allow teachers to coordinate teaching within the class, share documents and sources and expand teaching to both personalise learning and to expand the resources available within class. The roll out has been supported by a programme of learning for staff which will continue throughout the year. The use of MS In-Tune also allows us to manage each device, including filtering systems in school, provide network security and copyright integrity.

Further roll out of devices is planned once the initial programme has bedded in. Further expansion in Years 9, and above will utilise a Bring Your Own device programme where the segregated network provision will be most effective.

We are delighted that in-person events have completely restarted with the ability to conduct parent meetings and events, open days, visits to school etc in full flow. There is no question this gives a much deeper experience than relying on virtual contact, no matter how good we become at it!

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2023

Objectives and activities (continued)

Public benefit

The School has always made a priority of widening access through its comprehensive bursary scheme.

The School continued its relationship with Gillas Lane School, Houghton le Spring, a primary school which has a number of children from socially deprived backgrounds. Through the Schools Together campaign, the School has shared mental health resources with Gillas Lane.

The School continued to provide money, resources and food to a variety of local and national charities throughout the year, including the St Cuthbert’s Hospice, Feeding Families and the Durham Food Bank. Durham High Live, an outdoor concert in June, raised over £1600 for St Cuthbert’s Hospice during this event. Pupils supported Children In Need, Red Nose Day, Young Minds, DEC and Save the Children among others.

In addition, a large proportion of Years 10 and 11 undertook charitable work as part of their Duke of Edinburgh Award Scheme and also managed to complete challenging expeditions to the Lake District, North Yorkshire Moors etc.

Curriculum

The School continues to be committed to its remit to offer a fully-rounded education that allows students to thrive and to reach the potential of which they are capable. The members of staff are committed to inculcate a lifelong love of learning, leading the students to be well educated members of the community in the fullest sense, knowing that well qualified does not necessarily mean well educated. The School emphasises the love of learning for its very self, not just for the qualifications at the end.

During the year Pre-Prep have reviewed the teaching of science and created a new scheme which thoroughly covered all aspects of the Science National Curriculum. Attention will now turn to the English Curriculum and especially reading, incorporating aspects of the new DfE Framework for Reading. As part of this we will redevelop the Junior library in conjunction with the school librarian.

Pre-Prep / Prep wrap around care from 7.30am through to After School club continues to function well and with the help of Sixth Form pupils assisting the After School Care Manager gives a range of resources to keep the children occupied and engaged. Years 1-6 have access to Forest School as well as access to our grounds, woods and outdoor classroom.

Strategic report

Achievements and performance

Results at A level continue to be excellent, with 100% pass rates and overall results comparable to prepandemic levels. Grades at A-B of 71% exceeded 2019 levels and comfortably exceeded national and most regional levels. Biology, Chemistry, Physics, Art, Religious Studies and Sports Science all achieved 100% A-B grades.

The majority of sixth form pupils achieved their first choice university offer and continue to be placed at renowned Universities. In the current year, almost half of Upper Sixth pupils are applying for stretch subjects at university including law, medicine, dentistry as well as Oxbridge entrance.

GCSE pass rate of 99% with 59% at grades 9-7, including over 34% at grades 9-8, again higher than the comparative of 2019.

| Our programme of individual monitoring, mentoring and support for pupils, including specific support programmes and where required, meetings with parents, seek to allow each pupil to achieve of their best. Specific examination technique support and mentoring is also in place to give the best chance of performing Page 6

DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2023

Strategic report (continued)

well on the day.

Investment in the year has been specifically focussed on IT capability and security with additional network architecture development and access control. The upgrade of the wifi provision has enabled the laptop roll out which is a core part of the educational development plan, where scale and security are key.

Grant Making Policy

In accordance with the Trustees’ policy of widening access to the School, during 2022 23 a total of £564,717 (2022: £559,450) was awarded in bursaries and scholarships to 141 pupils (2022: 150).

The School's policy is to award scholarships on the basis of merit and bursaries on the grounds of financial hardship. The availability of all such awards for fee assistance, together with the terms and conditions for each kind of award, is advertised on the School's website at www.dhsfg.org.uk. as well as on application.

Mental Health Provision

The School is utterly committed to promoting active mental wellbeing as well as a commitment to assisting with any mental health concerns. In addition to the external agencies available to the school via Social Care and CAMHS, the School appointed a new School Counsellor during the course of the year and the three Mental Health Leads throughout the key stages continued in their roles and received extra training. The school counsellor continued to provide help to all members of staff who sought assistance. In addition, staff continued to have access to Health Assured 24 helpline, plus, all staff had access to advice, health tips, and online and face to face counselling sessions, at no cost to the staff. Moreover, the students were involved in a variety of online mental health activities and a Mental Health Week was conducted in the Summer Term. A designated Mental Health Ambassador continued to work with the Sixth Form Prefect Team. The Vice Principal completed her Senior Mental Health Lead accredited training.

Old Girls’ Association (““OGA”)

Meetings continued throughout the year including a vibrant AGM. The School remains grateful to the Old Girls’ Association for its support.

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DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2023

Strategic report (continued)

Parents and Friends Association (“P and F”)

The P and F continued throughout the year and made many valuable donations to the School during the course of the year both in terms of time and financial resources.

Particular assistance was provided for Elevate study skills sessions and electrical connection for the outdoor classroom, to allow heat and lighting to be added, making it more functional for all year round use. In addition, the presence of P and F members at events has been particularly welcome.

Governors are grateful for the continued support of both the OGA and P and F.

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2023

Strategic report (continued)

Financial review

Results for the year

The Trustees report a deficit for the year of £989,211 (2022: £621,462) which is as predicted, accounting for the increased costs of working due to reduced numbers of pupils. Actions are underway to review the cost base of the school and to redress this.

The decrease in funds amounted to £1,047,208 (2022: £636,301).

The accounting year end was changed during the period in order to align the accounting year with the academic year. This also brings the school into line with the majority of other academic establishments.

Trustees have spent the past year reviewing the cost base of the school, the curriculum offered and the staffing structure currently in place. Reviewed against local and national benchmarks it is clear that a review of the structure of the school was required.

At the end of summer term 2023 Mrs Simone Niblock retired as Principal and Mrs Michelle Hill was appointed as Headmistress. As an internal promotion this allowed a review of the school leadership team and as part of the ongoing strategic review of the school.

In addition, to ensure the very best result is achieved in this review external advice was sought from RSAcademics to benchmark proposals and to ensure that the curriculum remains robust and fit for the future. In addition, First Actuarial were retained as consulting actuaries to guide us through a review of the Teachers Pension Scheme and possible alternatives which may be more cost effective and more flexible in the hands of the teaching staff. Further reviews of all aspects of the school, as part of our long term strategic plan, will be carried out in the Spring Term 2024 and will be in place for September 2024 ensuring the subsequent financial year of 2024-25 returns a surplus for the year and begins to rebuild reserves. In all of these changes, staff will be fully consulted and all changes enacted in the most appropriate and collaborative way possible, at all stages working with our recognised teaching unions to achieve a sustainable long term future.

Going concern

After making appropriate enquiries, the Board of Trustees has a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. They therefore continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

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DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2023

Reserves policy

The notes to the financial statements disclose the assets and liabilities of the School attributable to the various Funds by type.

Unrestricted funds amount to £7.7m (2022: £8.7m) but, of this, the freely available balance stands at £0.5m (2022 £0.7m) as the majority of School assets are represented by property or are designated for specific purposes.

The Trustees aim to maintain free reserves at or around one month of cost for the school to meet any immediate, unexpected, shortfall in income. Free reserves at the end of the year amounted to £0.5m (2022 - £0.7m).

In the short term a programme of rationalisation of costs is underway, which seeks to review all costs incurred by the school and to reduce these to a level which is optimised for the actual current size of the school and the requirements of its pupils. This process will be completed before the current year end, ensuring that from September 2024 the cost base has reduced to a level commensurate with income and securing the longer-term future of the school.

In the medium to longer term Trustees aim to increase this level of reserves, having supported the expected turnaround in pupil numbers and annual results, such that this level will increase to around 3 months of expenditure. This allows the short-term utilisation of investments to support this process.

The Trustees continue to keep funding under review to ensure that, in the absence of free reserves, sufficient funding is available to cover the School’s working capital requirements.

Investment policy

The School holds investments in the form of Central Board of Finance Church of England Investment Fund (Income shares). The Trustees’ policy is to maintain income whilst preserving the real value of investments and to maximise income on temporarily invested restricted funds. Dividend receipts amounted to £21,464 (2022: £40,872) and Bank and Other Interest received amounted to £1,098 (2022: £52), which the Trustees see as a satisfactory result.

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DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2023

Principal risks and uncertainties

The Trustees are responsible for the management of risks faced by the School. Detailed consideration of risks are made by a specific sub committee of the Governing Body who are assisted by the Headmistress and Director of Finance and Business. Risks identified are assessed and controls established to mitigate these risks where possible throughout the year. A formal review of the Charity’s risk management process is undertaken on an annual basis.

Through the risk management processes established for the School, the Trustees are satisfied that the major risks are identified and mitigated where necessary. It is recognised that risk management systems can mitigate but not completely eliminate risk.

The key controls used by the Charitable Company include:

. Established organisational structure and lines of reporting; ° Detailed terms of reference for all Committees; ° Formal agendas for all Committees giving full and transparent information for consideration; ° Comprehensive strategic planning, budgeting and management accounting; ° Formal written policies; ° Clear authorisation and approval levels; and ° Vetting procedures as required by law for the protection of the vulnerable.

The key risks in the short to medium term as viewed by governors include:

Maintaining solvency and setting out plans for the medium to long term

The level of losses incurred by the school in recent years is unaffordable and required the governors to review all aspects of the school operation. Accordingly, in December 2023 a Strategic Plan was agreed for the next 5 years, setting out the cost structures, staffing levels, curriculum provision and academic support required to continue to provide excellent education to all our pupils.

Market risk

The national picture for independent single sex schools shows an increasingly challenging environment coupled with a demographic dip in birth rates which will inevitably impact on recruitment at the early years of the school. However, governors are committed to girls education and the unique benefits which accrue to the focus girls can achieve in a single sex environment. Alongside this we continue to operate a compassionate and accepting environment for girls of all backgrounds.

Political risk on tax position of Independent schools

Recent announcements by the Labour party have made it abundantly clear that, should they be elected, they intend amending the tax position of independent schools while not amending the charitable position of schools such as Durham High School. This would, if enacted, impose a significant additional cost on the school while retaining all of the obligations of a charitable company regarding public benefit etc.

While we are committed to providing benefit to current, past and future pupils as well as those of partner schools no matter what the regulatory position, to impose additional costs not applicable to education anywhere in Europe will significantly affect our cost structure and our ability to support these principles. We are very clear that costs cannot simply be passed on to parents without consequence.

As noted above, we are acting to contain our costs to mitigate these possible tax impacts while still providing an excellent education for the widest possible constituency of pupils. However, there will be inevitable impacts on the range of support we can offer those parents who have limited means, the range of activity we can provide to partner schools, the breadth of subjects on offer as well as running as efficient a cost structure as possible.

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2023

Fundraising

The School does not have a Foundation Office and does not fundraise from members of the public. However there have been generous donations this year from the Parents and Friends and from the Old Girls Association.

Plans for future periods

Rationalisation and cost control.

As noted above, a programme of review of the curriculum offered by the school commenced in 2023, where we have worked with RSAcademics, a renowned educational consultancy, to refine our curriculum in both subject offer and staffing. All changes will be negotiated carefully and compassionately to ensure the professional needs of all staff are catered for no matter what the outcome of the review. All changes will be in place for the start of the 2024-25 academic year.

Marketing

As part of the strategic plan, RSAcademics have been engaged to review our processes and channels to market, this will result in a sharpening of our focus on the local and regional market and a possiblee change in tone, commensurate with our academic standing as the highest achieving school in the area. This change speaks to a more assertive tone, demonstrating our known skills, quality and unique experience of developing girls in the most effective way possible both academically and socially. We will continue to utilise key TV and social media channels to selectively target potential parents and grow our school population.

We are also pleased to have partnered with Stride, a north eastern based agency to expand our media reach and widen the marketing channels accessed by the school. We expect this to continue to develop our profile regionally and to bring Durham High School to top of mind for prospective parents.

Working closely with our partner bank, HSBC, we are exploring the expansion of our current funding to allow investment to support our 5 year site development plan. This aims to improve efficiency of heating and lighting systems while reducing our carbon footprint. In addition, the funding will allow us to update our main building fabric and classroom estate to support our push towards improved in-class teaching methodology.

Disclosure of information to auditors

Insofar as the Trustees are aware:

° there is no relevant audit information of which the charitable company's auditors are unaware, and ° that Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

The Trustees’ report was approved by order of the Board of Trustees, as the company directors, on 21 December 2023 and signed on its behalf by:

H McMillan

(Governor)

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DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE PERIOD ENDED 31 AUGUST 2023

The Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees' 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 Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• ° select suitable accounting policies and then apply them consistently; ® observe the methods and principles of the Charities SORP (FRS102); ° 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;

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

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

Approved by order of the members of the Board of Trustees and signed on its behalf by:

Pa

(Governor). Date: 21 December 2023

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF DURHAM HIGH SCHOOL FOR GIRLS

Opinion

We have audited the financial statements of Durham High School for Girls (the ‘charitable company’) for the period ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law, 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) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), the Charities Act 2011 and the Companies Act 2006.

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, including its income and expenditure for the period 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 Charities SORP and Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' 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 United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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.

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF DURHAM HIGH SCHOOL FOR GIRLS (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

• ° the information given in the Trustees' Report for the financial period for which the financial statements are prepared is consistent with the financial statements.

• ° the Trustees' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the Charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

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

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

• ° the financial statements are not in agreement with the accounting records and returns; or ° certain disclosures of Trustees' remuneration specified by law are not made; or * we have not received all the information and explanations we require for our audit. ° the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Trustees’ Report and from the requirement to prepare a Strategic Report.

Responsibilities of trustees

As explained more fully in the Statement of trustees’ responsibilities, the Trustees (who are also the 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 Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the 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 Trustees either intend to liquidate the Charitable company or to cease operations, or have no realistic alternative but to do so.

Page 15

DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF DURHAM HIGH SCHOOL FOR GIRLS (CONTINUED)

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 Auditors’ 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We undertake the following procedures to identify and respond to these risks of non-compliance: e Understanding the key legal and regulatory frameworks that are applicable to the Charitable company. We communicated identified laws and regulations throughout the audit team and remained alert to any indications of noncompliance throughout the audit. We determined the most significant of these to be the regulations set out by the DfE and ISI. Other key laws and regulations included charity law, company law, safeguarding, Health & Safety, food hygiene regulations, GDPR and employment law.

We undertake the following procedures to identify and respond to these risks of non-compliance:

• e Endquiry of trustees and management as to policies and procedures to ensure compliance and any known instances of non-compliance.

• e Review of board minutes and correspondence with regulators.

• e Enquiry of trustees and management as to areas of the financial statements susceptible to fraud and how these risks are managed.

• e Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. These key areas of uncertainty are disclosed in the accounting policies.

• e Identifying and testing unusual journal entries, with a particular focus on manual journal entries.

Through these procedures, we did not become aware of actual or suspected non-compliance.

We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance 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 Auditors' report.

Page 16

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DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF DURHAM HIGH SCHOOL FOR GIRLS (CONTINUED)

Use of our report

This report is made solely to the Charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Beaumont BA(Hons) BFP FCA DChA (Senior Statutory Auditor)

for and on behalf of

Clive Owen LLP Chartered Accountants and Statutory Auditors 140 Coniscliffe Road Darlington Co Durham DL3 7RT

22 December 2023

Page 17

DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 AUGUST 2023

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2023	2023	2023	2022
	Note	£		£	a
Income from:
Donations and capital grants	3	22,875	:	22,875	4,757
Investments	5	22,562	-	22,562	40,924
Charitable activities		4,338,980	-	4,338,980	4,485,262
Other income	6	5,315	.	5,318	4,485
Total income		4,389,732	-	4,389,732	4,535,428
Expenditure on:
Charitable activities	7,8	5,329,997	48,946	5,378,943	5,156,890
Total expenditure		5,329,997	48,946	5,378,943	5,156,890
Net expenditure before net losses
on investments		(940,265)	(48,946)	(989,211)	(621,462)
Net losses on investments	15	(57,997)	-	(57,997)	(14,839)
Net movement in funds		(998,262)	(48,946)	(1,047,208)	(636,301)
Reconciliation of funds:
Total funds brought forward		8,748,038	48,946	8,796,984	9,433,285
Net movement in funds		(998,262)	(48,946)	(1,047,208)	(636,301)
Totalfundscarriedforward		7,749,776	-	7,749,776	8.796.984

Page 18

DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee) REGISTERED NUMBER: 06257502

BALANCE SHEET AS AT 31 AUGUST 2023

				31 August		31 July
				2023		2022
		Note		£		£
Fixed assets
Tangible assets		14		7,626,864		7,578,061
Investments		15		168,277		1,101,274
				7,795,141		8,679,335
Current assets
Debtors		16	372,570		457 223
Investments		17	475,000		450,000
Cash at bank and in hand			180,491		298,207
			1,028,061		1,205,430
Creditors: amounts falling due within one
year		18	(863,712)		(788,851)
Net current (liabilities)	/ assets			164,349		416,579
Total assets less current liabilities				7,959,490		9,095,914
Creditors: amounts falling due after more
than one year		19		(209,714)		(298,930)
Total assets				7,749,776		8,796,984
Funds ofthe Charitable company
Restricted funds		20		.		48,946
Unrestricted income funds
Designated funds		20	2,838,588		3,162,416
General funds		20	4,911,188		5,585,622
Total unrestricted income funds		20		7,749,776		8,748,038
Totalfunds				7,749,776		8,796,984

The financial statements on pages 18 to 42 were approved by the Trustees, and authorised for issue on 21 December 2023 and are signed on their behalf, by:

The notes on pages 21 to 42 form part of these financial statements. ‘all in y | ee

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DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

STATEMENT OF CASH FLOWS

FOR THE PERIOD ENDED 31 AUGUST 2023

|

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2023|2022| |Note|£|£| |Cash flows from operating|activities| |Net cash|used|in|operating|activities|22|(803,954)|(715,777)| |Cash|flows from|investing|activities|24|742,081|(77,477)| |Cash|flows|from|financing|activities|23|(55,843)|(54,471)| |Change|in|cash|and|cash|equivalents|in|the|period|(117,716)|(847,725)| |Cash|and|cash|equivalents|at|the|beginning|of the|period|298,207|1,145,932| |Cash|and|cash|equivalents|at the|end|of the|period|25,|26|180,491|298,207| |===Sas=|eS| |The|notes|on|pages|21|to|42|form|part|of these|financial|statements|

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

Page 20

DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

|

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

1. Accounting policies

Durham High School for Girls is a private company limited by guarantee incorporated in England and Wales. The registered office and Trustees are as listed on page 1.

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

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Durham High School for Girls meets the definition of a public benefit entity under FRS 102.

1.2 Going concern

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

At 31 August 2023 the Charitable company had total reserves of £7.74m of which £7.74m were unrestricted or designated reserves. The Charitable company has net current liabilities of £310,651, excluding current asset investments, investments totalling £643,277, creditors due in more than one year of £209,714 and restricted funds of £0. Plans for the future period, set out on page 12 detail the plans to enable the school to return to making a surplus to reinvest in the school. This is more than should be required to meet the expected loss during the 2023/24 financial year together with further capital investment plans.

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

1. Accounting policies (continued)

1.3. Income

Fee income:

Fees receivable are accounted for in the period in which the service is provided and are stated after deducting allowances, scholarships and other remissions granted by the School, but include contributions received from Restricted Funds for scholarships and bursaries.

Other income:

All other income is recognised once the Charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Discounts from fees are given as follows:

Staff Discount:

A staff discount of 1/3 of fees to be available to all full time staff and pro-rata for part-time staff.

Family Discount:

A family discount of 1/4 is given on the fees of the eldest child from a household where there are three daughters attending the School.

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

Donations

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

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

• e Charitable activities These are costs incurred on the Charitable company's educational operations, including support costs and costs relating to the governance of the Charitable company apportioned to charitable activities.

All resources expended are inclusive of irrecoverable VAT.

Page 22

DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

1: Accounting policies (continued)

1.5 Grants and Bursaries

Grants and bursaries from restricted funds are included as expenditure in the period for which the award is given. Bursaries and allowances from unrestricted funds towards School fees are treated as a reduction in those fees.

Government grants - revenue based grants are credited to the Statement of Financial Activities when receivable.

1.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charitable company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

• 1.7 Tangible fixed assets

Assets costing £300 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment.

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

The estimated useful lives are as follows:

Freehold Land	- No depreciation
Freehold Building	- 100 years
Office Equipment	- 3-10 years
AcademicEquipment	-3-10years

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

• 1.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

Current asset investments relate to fixed asset investments which at the Balance Sheet date had been agreed to be converted into cash. The valuation method is in line with the fixed asset investment policy.

• 1.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 23

DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

1. Accounting policies (continued)

1.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11 Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

1.12 Provisions

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

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.13 Financial instruments

The Charitable company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the Charitable company and their measurement bases are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 16. Prepayments are not financial instruments.

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

Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in notes 18 and 19. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

1.14 Finance leases and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Charitable company. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of financial activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 24

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

1. Accounting policies (continued)

1.15 Pensions

Retirement benefits to teaching employees of the Charitable company are provided by the Teachers' Pension Scheme ("TPS"). This is a defined benefit scheme.

The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the Charitable company in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. Consequently, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate.

Academic staff are offered retirement benefits by joining the Durham High School Pension Scheme, a money purchase scheme, the provider of which is Clerical Medical and General Life Assurance Society. This scheme is also available to staff who are not eligble to join the Teachers' Pension Scheme. The rate of School contribution during the year was 10.5%.

1.16 Fund accounting

Unrestricted income funds represent those resources which may be used towards meeting any of the charitable objects of the Charitable company at the discretion of the Trustees.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

Debtor provision - There are two provisions included within the financial statements; full provision and partial provision. The full provision provides for 100% of balances that are not considered to be recoverable. The partial provision provides for balances that are doubtful debts. The total bad debt provision within the financial statements is £91,263.

Page 25

DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

1. Income from donations and capital grants

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	£	£	£
Donations	22,875	22,875	4,757
Total2022	4,757	4,757

4. Income from charitable activities

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2023	2023	2023	2022
		£	£	£	£
	Tuition fees	4,466,466	-	4,466,466	4,659,525
	Grants, Awards and Prizes	(609,086)	-	(609,086)	(616,659)
	Lunches	221,477	-	221,477	224,891
	Music and Performing Arts recharges	204,457	-	204,457	159,895
	Travel fund recharges	55,666	-	55,666	57,610
		4,338,980	-	4,338,980	4,485,262
	Total 2022	4,482,242	3,020	4,485,262
5.	Investmentincome

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	£	£	a
Dividend income	21,464	21,464	40,872
Interest receivable	1,098	1,098	52
	22,562	22,562	40,924
Total2022	40,924	40,924

Page 26

DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

6. Other incoming resources

			Unrestricted	Total	Total
			funds	funds	funds
			2023	2023	2022
			£	£	£
	Registration fees		5.315	5,315	4,485
	Total 2022		4,485	4,485
i&	Expenditure
		Staff Costs	Other	Total	Total
		2023	2023	2023	2022
		£	£	£	£
	School's educational operations:
	Direct costs	2,888,704	1,058,922	3,947,626	3,957,089
	Allocated support costs	974,339	456,978	1,431,317	1,199,801
		3,863,043	1,515,900	5,378,943	5,156,890
	Total 2022	3,588,509	1,568,381	5,156,890
8.	Analysis of expenditure by activities
		Activities
		undertaken directly	Support costs	Total funds	Total funds
		2023	2023	2023	2022
		£	r	a	a
	School's educational operations	3,947,626	1,431,317	5,378,943	5,156,890
	Total2022	3,957,089	1,199,801	5,156,890

Page 27

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

8. Analysis of expenditure by activities (continued)

Analysis of direct costs

		School's
		educational	Total	Total
		operations	funds	funds
		2023	2023	2022
		2	£	£
	Staff costs	2,888,704	2,888,704	2,817,756
	Depreciation and amortisation	81,678	81,678	104,645
	Other costs	977,244	977,244	1,034,688
		3,947,626	3,947,626	3,957,089
	Total 2022	3,957,089	3,957,089
	Analysis of support costs
		School's
		educational operations	Total funds	Total funds
		2023	2023	2022
		£	£	£
	Staff costs	974,339	974,339	770,753
	Finance costs	4,940	4,940	9,240
	Other administrative costs	327,745	327,745	376,080
	Professional fees	124,293	124,293	43,728
		1,431,317	1,431,317	1,199,801
	Total 2022	1,199,801	1,199,801
9.	Net expenditure
	Net expenditure for the period includes:
			31 August	31 July
			2023	2022
			£	a
	Operating lease rentals		32,776	21,985
	Depreciation of tangible fixed assets		81,678	97,686
	Amortisationofintangibleassets		-	6,959

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DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

10. Auditors’ remuneration

	2023	2022
	£	£
Fees payable to the Charitable company's auditor for the audit of the
Charitablecompany'sannualaccounts	15,000	9,350

11. Staff

a. Staff costs

Staff costs during the period were as follows:

	2023	2022
	£	£
Wages and salaries	3,015,573	2,774,742
Social security costs	314,739	285,561
Pension costs	532,731	528,206
	3,863,043	3,588,509

b. Staff numbers

The average number of persons employed by the Charitable company during the period was as follows:

	2023	2022
	No.	No.
Teachers	§3	57
Administration	11	10
Technicians	4	4
Cleaning and Domestic	14	10
Maintenance	¥	6
Music Peris	9	9
Teaching Support	8	8
	106	104

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

11. Staff (continued)

c. Higher paid staff

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

				2023	2022
				No.	No.
In	the	band	£60,001 - £70,000	1	-
In	the	band	£70,001 - £80,000	1	-
In	the	band	£90,001 - £100,000	.	1
In	the	band	£100,001-£110,000	1	-

d. Key management personnel

The key management personnel of the Charitable company comprise the Trustees and the senior management team as listed on page 1. The total amount of employee benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for their services to the Charitable company was £371,349 (2022 - £318,413).

12. Trustees' remuneration and expenses

During the period, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the period ended 31 August 2023, expenses totalling ENIL were reimbursed or paid directly to Trustees (2022 - £822 to 5 Trustees).

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

		NOTES TO THE FINANCIAL STATEMENTS
		FOR THE PERIOD ENDED 31 AUGUST 2023
13.	Intangible assets
			Software
			Licences
			2
	Cost
	At 1 August 2022		35,708
	At 31 August 2023		35,708
	Amortisation
	At 1 August 2022		35,708
	At 31 August 2023		35,708
	Net book value
	At 31 August 2023		=
	At31July2022		-

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DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

14. Tangible fixed assets

	Freehold property	Furnitureand equipme t	Computer equipment	Academic equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 August 2022	7,708,938	205,024	158,809	861,722	8,934,493
Additions	18,761	76,099	19,068	16,553	130,481
At 31 August 2023	7,727,699	281,123	177,877	878,275	9,064,974
Depreciation
At 1 August 2022	319,992	173,061	72,661	790,718	1,356,432
Charge for the period	41,855	12,991	13,839	12,993	81,678
At 31 August2023	361,847	186,052	86,500	803,711	1,438,110
Net book value
At 31 August 2023	7,365,852	95,071	91,377	74,564	7,626,864
At31July2022	7,388,946	31,963	86,148	71,004	7,578,061

Within tangible fixed assets are assets held under hire purchase with net book values of £17,134 (2022: Enil).

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

15. Fixed asset investments

	Listed
	investments
	a
Cost or valuation
At 1 August 2022	1,101,274
Disposals	(400,000)
Revaluations	(57,997)
Transfers between classes	(475,000)
At 31 August 2023	168,277
Net book value
At 31 August 2023	168,277
At31July2022	1,101,274

Investments comprise Investment Fund Income Shares. The fair value of the investments has been arrived at on the basis of a valuation carried out at 31 August 2023 by CCLA Investment Management Limited, who are not connected with the charity.

16. Debtors

	31 August	31 July
	2023	2022
	ra	£
Due within one year
Trade debtors	258,604	377,251
Other debtors	21,129	13,146
Prepayments and accrued income	92,841	66,826
	372,570	457,223

17. Current asset investments

Listed investments

31 August	31 July
2023	2022
e	£
475,000	450,000

Page 33

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DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

18. Creditors: Amounts falling due within one year

	31 August	31 July
	2023	2022
	£	£
Bank loans	53,234	53,234
Trade creditors	146,369	76,635
Other taxation and social security	71,936	71,978
Obligations under finance lease and hire purchase contracts	6,854	~
Other creditors	420,057	256,022
Accruals and deferred income	165,262	330,982
	863,712	788,851
	31 August	31 July
	2023	2022
	2	£
Deferred income at 1 August 2022	2,935	49,693
Resources deferred during the period	14,326	2,935
Amounts released from previous periods	(2,935)	(49,693)
	14,326	2,935

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

19. Creditors: Amounts falling due after more than one year

	31 August	31 July
	2023	2022
	£	£.
Bank loans	174,434	247,277
Net obligations under finance lease and hire purchase contracts	10,280	-
Other creditors	25,000	51,653
	209,714	298,930
Included within the above are amounts falling due as follows:
	31 August	31 July
	2023	2022
	pz	£
Between one and two years
Bank loans	53,234	53,234
Between two and five years
Bank loans	121,200	159,702
Over five years
Bankloans	-	34,341

The bank borrowings are secured by means of a charge against the property.

The bank loan is repayable by monthly instalments and attract interest at 1.9% over HSBC's sterling base rate.

Hire purchase obligations are secured against the assets to which they relate.

Page 35

DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

20. Statement of funds

						Balance	at
	Balance at 1			Transfers	Gains/	31 August
	August 2022	Income	Expenditure	in/out	(Losses)	2023
	£	£	£	2	£		ya
Designated
funds
Governors’
discretionary
fund	75,385	-	-	-	-	75,385
Extra-ordinary
repair fund	92,249	-	-	-	-	92,249
Revaluation
reserve -
property	2,052,677	-	-	-	-	2,052,677
Revaluation
reserve -
investments	942,105	-	-	(265,831)	(57,997)	618,277
	3,162,416	.	-	(265,831)	(57,997)	2,838,588
General funds
General fund	5,585,622	4,389,732	(5,329,997)	265,831	.	4,911,188
Total
Unrestricted
funds	8,748,038	4,389,732	(5,329,997)	-	(57,997)	7,749,776
Restricted
funds
Scholarship
funds	§,127	-	(5,127)	-	=	-
Travel account	28,243	-	(28,243)	-	-	-
Charities
account	929	-	(929)	-	-	.
Partnerships -
Science Sparks	14,107	-	(14,107)	:	-	.
Duke of
Edinburgh
Award	540	-	(540)	-	-	-
	48,946	.	(48,946)	-	-	-
Totalfunds	8,796,984	4,389,732	(5,378,943)	.	(57,997)	7,749,776

Page 36

DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

20. Statement of funds (continued)

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

The Governors' discretionary fund is to be used at the discretion of the Board for bursaries or other projects.

The Extra-ordinary repair fund is a reserve to allocate funds to the repair of the School. The Revaluation reserve - property was formed by the revaluation of some of the Charity's Buildings. The Revaluation reserve - investments was formed by the revaluation of the investments held. The Scholarship funds are to fund Scholarships.

The Travel account is to subsidise travel for those pupils whose parents cannot afford the cost of travel. The Charities account is the balance between fundraising and donations. The Partnerships - Science Sparks fund was formed to improve science learning

The Duke of Edinburgh Award fund was formed to allow students to complete the award. The General fund represent those funds which are unrestricted and not designated for other purposes.

During the year appropriate expenditure was allocated to restricted funds to reduce all balances to ENil.

Comparative information in respect of the preceding period is as follows:

	Balance at
	1 August			Gains/	Balance at
	2021	Income	Expenditure	(Losses)	31 July 2022
	£	5	£	e	£
Designated funds
Governors’ discretionary fund	179,525	(104,140)	.	-	75,385
Extra-ordinary repair fund	116,134	-	(23,885)	-	92,249
Revaluation reserve - property	2,052,677	-	-	-	2,052,677
Revaluation reserve -
investments	956,944	-	-	(14,839)	942,105
	3,305,280	(104,140)	(23,885)	(14,839)	3,162,416
General funds
General fund	6,016,407	4,636,548	(5,067,333)	-	5,585,622
Total Unrestricted funds	9,321,687	4,532,408	(5,091,218)	(14,839)	8,748,038
	Balance at
	1 August			Gains/	_Balance at
	2021	Income	Expenditure	(Losses)	31 July2022
	£	£	e	£	£
Restricted funds
Scholarship funds	57,974	(54,590)	1,743	-	5,127
Travel account	36,008	57,610	(65,375)	.	28,243
		Page37

DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

20. Statement of funds (continued)

	Balance at
	1 August			Gains/	Balance at
	2021	Income	Expenditure	(Losses)	31 July 2022
	£	E	2	£	a
Charities account	929	-	-	-	929
Partnerships - Science Sparks	14,107	.	-	-	14,107
Duke of Edinburgh Award	2,580	-	(2,040)	.	540
	111,598	3,020	(65,672)	-	48,946
Totalfunds	9,433,285	4,535,428	(5,156,890)	(14,839)	8,796,984

21. Analysis of net assets between funds

Analysis of net assets between funds - current period

	Unrestricted	Total
	funds	funds
	31 August	31 August
	2023	2023
	a	a
Tangible fixed assets	7,626,864	7,626,864
Fixed asset investments	168,277	168,277
Current assets	1,028,061	1,028,061
Creditors due within one year	(863,712)	(863,712)
Creditors due in more than one year	(209,714)	(209,714)
Total	7,749,776	7,749,776

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

21. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

		Unrestricted	Restricted	Total
		funds	funds	funds
		31 July	31 July	31 July
		2022	2022	2022
		£	£	£
	Tangible fixed assets	7,578,061	.	7,578,061
	Fixed asset investments	1,101,274	-	1,101,274
	Current assets	1,156,484	48,946	1,205,430
	Creditors due within one year	(788,851)	.	(788,851)
	Creditors due in more than one year	(298,930)	-	(298,930)
	Total	8,748,038	48,946	8,796,984
22.	Reconciliation of net expenditure to net cash flow from operating activities
			31 August	31 July
			2023	2022
			£	£
	Net expenditure for the period (as per Statement of	financial activities)	(1,047,208)	(636,301)
	Adjustments for:
	Amortisation		.	6,959
	Depreciation		81,678	97,686
	Interest receivable		(22,562)	(40,924)
	Decrease/(increase) in debtors		84,653	(62,753)
	Increase/(decrease) in creditors		41,488	(95,283)
	Fair value gains and losses on investments		57,997	14,839
	Net cash used in operating activities		(803,954)	(719,000)
23.	Cash flows from financing activities
			31 August	31 July
			2023	2022
			F	£
	Repayments of borrowing		(72,843)	(54,471)
	New finance leases		17,000	-
	Netcashusedinfinancingactivities		(55,843)	(54,471)

22. Reconciliation of net expenditure to net cash flow from operating activities

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DURHAM HIGH SCHOOL FOR GIRLS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

24. Cash flows from investing activities

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |31|August|31|July| |2023|2022| |£|£| |Dividends,|interest|and|rents|from|investments|22,562|40,924| |Purchase|of|tangible|fixed|assets|(130,481)|(118,401)| |Proceeds|from|the|sale|of|investments|850,000|-| |Net|cash|provided|by/(used|in)|investing|activities|742,081|(77,477)| |25.|Analysis|of cash|and|cash|equivalents| |31|August|31|July| |2023|2022| |£|+| |Cash|in|hand|180,491|298,207| |Total|cash|and|cash|equivalents|180,491|298,207| |26.|Analysis|of changes|in|net|debt|

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

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Other|non-| |At|1|August|cash|At|31|August| |2022|Cash|flows|changes|2023| |£|£|£|£| |Cash|at|bank|and|in|hand|298,207|(117,716)|:|180,491| |Debt|due|within|1|year|(53,234)|-|-|(53,234)| |Debt|due|after|1|year|(247,277)|72,843|-|(174,434)| |Finance|leases|-|(17,134)|.|(17,134)| |Liquid|investments|450,000|-|25,000|475,000| |447,696|(62,007)|25,000|410,689|

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

Page 40

DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

27. Pension commitments

The charity operates a defined contribution pension scheme for all qualifying employees not in the Teachers Pension Scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution scheme was £47,493 (2022 - £49,264).

Teachers’ Pension Scheme

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers' Pension Scheme Regulations 2014. Membership is automatic for full-time teachers in schools. All teachers have the option to opt-out of the TPS following enrolment.

The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary - these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Valuation of the Teachers' Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2016. The valuation report was published by the Department for Education on 5 March 2019. The key elements of the valuation and subsequent consultation are:

• employer contribution rates set at 23.68% of pensionable pay (including a 0.08% administration levy)

• total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £218,100 million and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £196,100 million, giving a notional past service deficit of £22,000 million

• the SCAPE rate, set by HMT, is used to determine the notional investment return. The current SCAPE rate is 2.4% above the rate of CPI, assumed real rate of return is 2.4% in excess of prices and 2% in excess of earnings. The rate of real earnings growth is assumed to be 2.2%. The assumed nominal rate of return including earnings growth is 4.45%.

The next valuation result is due to be implemented from 1 April 2023.

The employer's pension costs paid to TPS in the year amounted to £485,238 (2022 - £478,942).

Page 41

DURHAM HIGH SCHOOL FOR GIRLS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023

28. Operating lease commitments

At 31 August 2023 the Charitable company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

	31 August	31 July
	2023	2022
	£	e
Not later than 1 year	25;151	20; 151
Later than 1 year and not later than 5 years	41,017	68,264
	66,168	93,415

29. Related party transactions

No related party transactions took place in the period of account, other than certain Trustees’ remuneration and expenses already disclosed in note 12.

Page 42