Company Registratlon Number: 06257502 {England & Wales)
DHS EDUCATIONAL FOUNDATION LTD
(formerly known as Durham High School for Girls)
(A company limited by guarante6)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

DHS EDUCATIONAL FOUNDATION LTD
IA company limited by guarantee)
CONTENTS
Page
Reference and administrative details
Trustees, report
Statement of trustees. responsibilities
10
Independent auditors. report on the financial statements
Statement of financial activities incorporating income and expenditure account
Balance sheet
15
16
statement of cash flows
17
Notes to the financial statomonts
18-40

DHS EDUCATIONAL FOUNDATION LTD
IA company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
H Mcmillan, Chairl
K G Barker3
A D Beattie
J C Eynon (appointed 7 March 2024)
K T E Harrison1
Dr M A Hyder
R J Gooding (appoirrted 7 March 2024)
A J Hopper (appointed 7 March 2024)
AMRyan
Member of the Finance and General Purposes Committee
Nominated Trustee by the Bishop of Durham
Nominated Trustee by the Bishop of Jarrow
Company registered
number
06257502
DHS Educational Foundation Ltd (formerly known as Durham High School for
Girls)
Company name
Princlpal and reglstered Farewell Hall
office
South Road
Durham
DH13TB
Charity numbar
1119995
Chief executlve officer M Hill
Key Executlves
M Hill, Headmistress
P Bryan. Director of Finance and Operations (Interim., appointed 1 September 2024,
resigned 30 November 2024)
J Hall, After School Care Manager
L Middleton. Deputy Headmistress
K Hall, EYFS Lead
C Hopper, Head of Prep and Pre-Prep
D Todd. Director of Finance and Operations (resigned 31 March 2024)
J Guy. Director of Finance and Operations (Interirn,. appointed 1 December 2024)
Independent auditors
Clive Owen LLP
Chartered Accountants and Statutory Auditors
140 Conisclrffe Road
Darlington
Co Durham
DL3 7RT
Bankers
HSBC
1 Saddler Street
Durham
County Durham
DH13NR
Page 1

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Solicitors
HCR Legal LLP
Ellenborough House
Wellington Street
Cheltenham
GL50 1YD
Investment advisors
CCLA Investment Management Limited
One Angel Lane
London
EC4R 3AB
Insurance Brokers
Marsh Education Practi
Capital House
1- 5 Perrymount Road
Haywards Heath
West Sussex
RH16 3SY
Page 2

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees of DHS Educational Foundation Ltd. 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 August 2024. The
Trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Structure, governance and management
a. Governing Document
DHS Educational Foundation Ltd 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. charty number 1119995.
The Trustees of DHS Educational Foundation Ltd are also the directors of the charitable company for the
purposes of company law.
Details of the Trustees who served during the year, and to the date these accounts are approved are included in
the Reference and administrative details on page 1.
b. Arrangements for settlng pay and remuneratlon of key management personnel
The remuneration of key mansgement 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 attractNe 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.
c. Related partles and other connected charltles and oryanisations
None of the Trustees receive remuneration or other benefit from their work with the School.
Some Trustees have children or grandchI￿ren attending the School. This does not affect their capabilty to make
independent and fair decisions but. if there is a specific situation where there may be conflict, Trustees will
declare their interest.
d. Method of recruitment and appointment or election of Trustees
The Governing Body consists of Co-opted Trustees and Nominated Trustees, all of whom are appointed for
temis of three years and they can be re-elected for up to further term5.
The Co-opted Trustees are c￿pted by the existing Trustees.
Trustees are formally appointed at the Annual General Meeting (AGM) but may also be appointed by the Board
8t any time on a temporary basis until formal appointrnent 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.
Page 3

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guaranteel
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Structure) governance and management (continued)
e. Policies adopted for the Induction and training of Trustees
New Trustee5 are made aware of their duties and responsibilities by the Chair 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 Bodie5 of Independent Schools
(AGBIS) and other educational organisations.
f. 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.
Objectives and activities
a. Objects and alms
Charltable Objects
The object of DHS Educational Foundation Ltd shall be the provision and conduct in or near the Cty of Durham
of a day school, including nursery education faciliiies, for primarily girls, but boys may be admitted to the nursery
and junior department.
Aims and Intended Impact
The aims of DHS Educational Foundation Ltd 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 and a 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 charty 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 Benefrt requirement under that Act.
Page 4

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Objectlves and activities (contlnued)
b. Objoctlves, strategles and activities
Objectives for the Year
As set out in our previous staternents, our focus for the year has been a review of the curriculum working
alongside RSAcademics, a renowned educstional consultancy. Thi8 brought about a refinement of the subject
offer and a consequent reorganisation of staffing. All negotiations were handled carefully and compassionately to
ensure the professional needs of 811 staff vRre properly catered for and the whole School community understood
the need for change and were able to support the process. The rationalisation and cost control programme was
agreed, ready for implementation for the academic year 2024125.
In considering a strategy for the School, the Board undertook a thorough review of options for the future. The
view considered several courses and concluded the long4erm interests of the School would be best serv6d by
the fornation of a strategic partnership, Negotiations took place during the year with several potential partners
which were narrowed down to a partner of choice. On 20 December 2024 the assets of the School together with
Its rights of patents and trademarks were sold to Durham Education Limited. The operation of the School passed
across to Durham Educ8tion on the same day. The residuary charity's future purpose 18 to support the provision
of education. The trustees are committed to supporting the advancement of education at the Durham High
School for Girls with the provision of grants for bursaries and other forms of support to its pupils and former
pupils.
These financial statements have been prepared to take account of the sale that took place after the balance
sheet date and assets have been written down accordingly to reflect their net reali8able value at that point.
The life of tha School continued wrth vibrancy throughout the period of change and the Trustees are indebted to
the staff for their commitment and support throughout the period of transition. The whole School was delighted to
receive the award of the Sunday Times Independent School of the Northeast award In December 2024, 8 fitting
recognition of this unique and outstanding School.
In the autumn of 2023 the School launched a strategy to improve its IT provlsion and during the year this
Investment was recognised in many areas. The National Centre for Computing Education recognised the School
for its efforts in encouraging girls to pursue Computer Science. 12 teams comprising 43 girls celebrated
outstanding accomplishments in the GCHQ'S National Cyberfirst Girls, Competition.
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 bodles as and when
required.
Extra-curricular activity is in full swing. Sport and our PE department continue to punch above their weight,
outperforming much larger schools in several areas, including competing locally and nationally. There are regular
fixtures against local schools and in Tyne and We8r tournaments for Netb811, Football, Cricket, Rounders and
Trampolining. Pupils are supported out of school where they are 8ble to compete on a national platform, such as
having a gold medallist at the British Dry Slopes Championships and two girls attend the Glasshouse Centre for
Advanced Training to participate in high-level instrumental training programmes.
We have also run several trips with pupils enjoying residential visits and international trips. Prep school
residential trips to Ford Castle, the Lakes and Paris have been ￿￿11 supported and provide a chance for pupils to
experience life away from home while in a safe environment. In the Senior School there have been trips to Sri
Lanka and Paris, together with the ever-popular ski trip, this time to Folgarida in Italy. Duke of Edinburgh
expeditions in particular have been in full swing visiting the Yorkshire Dales, Lake District on expeditions for
bronze, silver and gold awards.
Page 5

DHS EDUCATIONAL FOUNDATION LTD
(A company Ilmited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Objectives and actlvities (continued)
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
DHS Educational Foundation Ltd.
c. Publlc benefit
The School has 8lway8 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
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. Pupi
support&d 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 Duka of Edinburgh
Award Scheme and also managed to complete challenging expeditions to the Lake District, North Yorkshire
Moors etc.
d. Currlculum
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 quallficatlons at the end.
Pre Prep I Prep wrap around care from 7.30am through to After School club continues to functlon well and with
the help of Sixth Form pupils assisting the After School Care Manager gives a range of resources to keep the
chlldren occupied and engaged.
Years 1- 6 have access to Forest School as well as acce88 to our grounds, woods and outdoor classroom.
Strateglc report
a. Achievements and performance
Results al A level continue to b8 excellent, with 1000/0 pass rates and overall results comparable to pre pandemic
levels. Grades at A'.B of 839/0 comfortably exceeded national and most regional levels. Physlcg, Further Maths
and all languages achieved 100 % A'_B grades.
The majority of sixth fomi 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 subject5 at university including law,
medicine, dentistry as well as Oxbridge entrance.
GCSE pass rate of 990/D With 68Q/o at grades 9-7, including over 24'h at grades 9, again higher than the
comparative of 2023.
Page 6

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Strategic report (continued)
Our programme of individual monitoring. mentoring and support for pupils. including specific support
programmes and where required, meetings with parerrts. seek to allow each pupil to achieve of their best.
Specific examination technique support and mentoring is also in pla￿ to give the best chance of performing well
on the day.
The School is proud once again to have the best academic results for all schools in the County.
b. Grant Mak5ng Policy
In accordance with the Trustees. policy of widening access to the School. during 2023124 a total of £696.261
(2023: £609,086) was awarded in bursaries. prizes and scholarships to 161 pupils {2023: 141).
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.
c. 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 Counsellor 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 stsff 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.
d. 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.
e. 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.
Govemors are grateful for the continued support of both the OGA and P and F.
Page 7

DHS EDUCATIONAL FOUNDATION LTD
(A company Ilmlted by guarantee)
TRugTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
strateglc report (contlnued)
Flnanclal review
a. Results for the year
The Truste&s report a deficit for the year of £1.067.752 (2023: £1,047,208) which is as predicted, accounting for
the increased costs of working due lo reduced numbers of pupils. The loss includes certain costs incurred in the
review of curriculum and legal and professional costs incLJrred as part of the restructure.
The decrease in funds before the write down of ftxed assets amounted to £1,067,752 (2023.. £1,047,208).
As previously reported, on 20 December 2024 the assets of the School together with its rights of patents and
trademarks were sold to Durham Education Limited. These financial statements have been prepared to take
account of th& sale that took place after the balance sheet date and assets have been written down accordingly
to reflect their net realisable value at that point before the sale. The total write-down was £5,670,363 which gave
rise to an overall reduction in funds of £6,738,115.
b. Golng concern
Following the sale of the assets of the School and the transfer of its operation to Durham Education Limited the
Trustees consider the charity to be a going concern.
c. Reserves policy
The notes to the financial statements dl8close the assets and liabilities of the School attributable to the various
Funds by type,
Unrestricted funds amount to £1.Om {2023'. £7.7m) of this, the freely available balance stands at £1.Om (2023
£0.1 m) as the majority of School assels were represented by property.
The Trustees aim to form a new reservas policy, following the sale of the School which will be informed by the
need to have funds to operate the charity for the medium term.
d. Investrnent pollcy
The Trustee5 aim to form a new investment policy, following the sale of the School which will be informed by the
need to have funds to operate the charty for the medium term.
e. Prlncipal risks and uncertalnt5es
Given the significant change and reduction in risk. following the sale of the School, the Trustees aim to carry out
a new complete risk assessment.
Fundralslng
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 Gir15 Association.
Page 8

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Plans for future period5
The Trustees are committed to supporting the advancement of education at the DHS Educational Foundation Ltd
with the provision of grants for bursaries and other forms of support to its pupils and former pupils.
There is the intention to operate as co-educational from September 2025 for Pre-Prep and Prep. and our Senior
Department from September 2026.
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 tsken 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
7.,...?,C4-w......J•.￿r. ........ and signed on its behalf by:
H Mcmillan
(Trustee)
Page 9

DHS EDUCATIONAL FOUNDATION LTD
IA company limited by guarantee)
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees (who are a150 the directors of the charitable company for the purposes of company law) are
responsible for preparing the Trustees, report and the financial statement5 in accordance with applicable Eaw and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law.
the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affairs of the charitable company and of its incoming resources and application of resources,
including its income and expenditure, for that period. In preparing these financial statements, the Trustees are
required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS102)',
make judgements and accounting estimates that are reasonable and prudent.,
slate 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 business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the charitable companls 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..
H Mcmillan
(Trustee)
Date:
Page 10

DHS EDUCATIONAL FOUNDATION LTD
(A company limlted by guarantee)
INDEPENDENT AUDITORS, REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF DHS
EDUCATIONAL FOUNDATION LTD
Opinion
We have audited the financial statements of DHS Educational Foundation Ltd (the 'charitable cornpanrf) for the
year ended 31 August 2024 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 (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 2024 and of tts
incoming resources and application of resources, including its income and expenditure 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 Charities SORP and Companies Act
2006.
Basis for oplnlon
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 compantys ability to
continue as a going concern for a period of at least iwelve months from when the f5nancial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees respect to going Goncern are described in the
relevant sections of this report.
Page 11

DHS EDUCATIONAL FOUNDATION LTD
(A company Ilmited by guarantee)
INDEPENDENT AUDITORS. REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF DHS
EDUCATIONAL FOUNDATION LTD (CONTINUED)
Other infomiation
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 ststements 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, Gonsider 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 tho 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.
Oplnlon 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 year for which the financial statements are
prepared is consistenl with the financial statements.
the Trustees, Report ha5 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 identtfied 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 retums 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 companie5, 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
misslatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charitable companys abilty
to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going
concern basis of 8¢¢ounting unless the Trustees either intend to liquidate the Charitable company or to cease
operations, or have no realistic alternative but to do 80.
Page 12

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantse)
INDEPENDENT AUDITORS, REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF DHS
EDUCATIONAL FOUNDATION LTD (CONTINUED)
Auditors, responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ 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:
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 detemiined 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.
Enquiry of trustees and management as to policies and procedures to ensure compliance and any known
instances of non-compliance.
Review of board minutes and correspondence with regulators.
Enquiry of trustees and management as to areas of the financial statements susceptible to fraud and how
these risks are managed.
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.
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 lirnitations
of procedures required in these areas, there is an unavoidable risk that we may not have detected a material
mi55tatement 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
detecling 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 non-compliance with all laws
and regulations.
A further description of our responsibilities for the audit of the financial statements 15 located on the Financial
Reporting Council's website at: www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, report.
Page 13

DHS EDUCATIONAL FOUNDATION LTD
(A company Ilmlted by guarantee)
INDEPENDENT AUDITORS, REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF DHS
EDUCATIONAL FOUNDATION LTD (CONTINUED
Use of our report
This report is made solely to the Charitable companvs 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 ￿￿[k, for this report, or for the opinions
we have formed.
CFZ
Christopher Bèaumont BA(Hons) BFP FCA DChA (Senior Statutory Audltor)
for and on behalf of
Clive Owen LLP
Chartered Accountants and Statutory Auditors
140 Coniscliffe Road
Darlington
Co Durham
DL3 7RT
Date: f
Page 14

DHS EDUCATIONAL FOUNDATION LTD
(A company Ilmlted by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUIU)
FOR THE YEAR ENDED 31 AUGUST 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and capital grants
Investments
Charitable activities
other income
4,800
36,716
4.465,167
3.965
4,800
36.716
4,465.167
3.965
22.875
22,562
4,338.980
5.315
Total income
4,510,648
4,510,648
4,389,732
Expendlture on:
Charitable activities
5,578,400
5,578,400
5.378,943
Total expendlture
5,578,400
5,578,400
5,378,943
Net expenditure before net losses on investments
Net losses on investments
(1.067.752) (1,067,752)
(989,211)
(57,99n
Net movement in funds before other recognised
galnsl{losses)
(1,067,752> (1,067,752) (1,047,208)
Other recognlsed galnsl(losses):
Impairment losses on fixed assets
(5,670,363) (5,870,363)
Net movement In funds
(6,738,115) (6,738,115) (1,047,208)
Reconclllatlon of funds:
Total funds brought forward
Net movement in funds
7,749.776
7.749,776
8,796.984
{6,738,115) (6,738,115) (1.047,208)
Total funds carrled forward
1.011.661
1,011,661
7,749.776
Page 15

DHS EDUCATIONAL FOUNDATION LTD
IA company limited by guarantee)
REGISTERED NUPJIBER: 06257502
BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
14
1,855,879
196,251
7,626,864
168.277
15
2,052.130
7.795,141
Current assets
Debtors
16
17
295,100
372,570
475,000
180,491
Investments
Cash at bank and in hand
649,410
944,510
1,028,061
Creditors: amounts falling due within one
year
18
(1,496.750)
(863,712)
Net current (Ilabllltles) l assets
(552,240)
164,349
Total assets less current liabilities
1,499,890
7,959,490
Creditors.. amounts falling due after more
than one year
19
(488,229)
(209,714)
Total assets
1,011,661
7,749,776
Funds of the Charltable company
Restricted funds
Unrestricted income funds
20
Designated funds
General fund5
20
20
167.634
844.027
2,838.588
4,911.188
Totsl unrestricted income funds
20
1.011,661
7,749,776
Total funds
1,011,661
7,749,776
The financial statements on pages 15 to 40 were approved by the Trustees, and authorised for issue on
. and are signed on their behalf, by..
H Mcmillan
(Chair)
The notes on pages 18 to 40 fomi part of these financial statements.
Page 16

DHS EDUCATIONAL FOUNDATION LTD
(A company Ilmfted by guarantse)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Note
Cash flows from operating activities
Net cash provided byl(used in) operating activities
22
52,981
(803.954)
Cash flows from investing activities
24
446,542
742.081
Cash flows from financing activities
23
(30,604)
(55,843)
Change in cash and cash equivalents in the year
468,919
(117,716)
Cash and cash equivalents at the beginning of the year
180,491
298,207
Cash and cash equivalents at the end of the year
25, 26
649,410
180,491
The notes on pages 18 to 40 form part of these financial statements
Page 17

DHS EDUCATIONAL FOUNDATION LTD
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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 ststements
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.
DHS Educational Foundation Ltd 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 abilily 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
Charttable comp8ny's abilty to continue as a going concern. They continue to adopt the going
concern basis of accounting in preparing the financial statements.
On 20 December 2024. the Charity transferred its business to Durham Education Limited, a company
registered in England and Wales. The registered address is 24 King William Street, London,
England, EC4R 9AT.
Page 18

DHS EDUCATIONAL FOUNDATION LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31 AUGUST 2024
Accountlng policies {continued)
1.3 Income
Fee income:
Fees receivable are accounted for in the period in which the service is provided and are slated after
deducting allowances. scholarships and other rernissions granted by the School. but include
contributions received from Restricted Funds for schotarships and bursaries.
other income:
All other income is recognised once the Charitable company ha8 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 113 of fees to be available to all full time staff and pro-rata for part-time staff.
Family Discount..
A famity discount of 114 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.
1A Expendlture
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 directty
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 assefs use.
Charitable activities
These are costs incurred on the Charitable companvs 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 19

DHS EDUCATIONAL FOUNDATION LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting poliGies {continued)
.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 Taxation
The Charitable company is exempt from corporation tax on its charitable activities.
From 1 January 2025, the income of the Charitable company is subject to VAT.
1.7 Tangible flxed assets
Assets costing £300 or more are capitalised as tangible fixed assets and are carried at cost, net of
depreciation and any provision for impaimient.
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 eaoh asset on a straight-line basis over its
expected useful life, as follows..
The estimated useful lives are as follows:
Freehold Land
Freehold Building
Office Equipment
Academic Equipment
No depreciation
100 years
3-10years
3- 10 years
A review for impairment of a fixed asset is carried out rf 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 'Gainsl(Losses) on
investments, in the Statement of Financial Activities.
Current asset investments relate to fixed asset investments which at the BalanGe Sheet date had
been agreed to be converted into cash. The valuation method is in line with the fixed asset
invèstment 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 20

DHS EDUCATIONAL FOUNDATION LTD
IA company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng policies (continued)
1.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-temi 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 amourrt
of the settlement can be estimated reliably. Liabilities are recognised at the amount that the
Charitable company anticipates it wll pay to settle the debt or the amount it has received as
advanced payments for the goods or seniices 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 chsrges.
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 instrumenls.
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 delailed 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 ¢ontraGts and finance leases are capitalised as tangible f￿ed
assets. Assets acquired by finance lease are depreciated over the shorter of the lease temi and their
useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases
are those where Substantial￿ 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 constsnt periodic rate of charge on the net
obligation outstanding in each period.
Page 21

DHS EDUCATIONAL FOUNDATION LTD
(A company Ilmited by guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies (continued)
1.15 Operating leases
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight
line basis over the lease term.
1.16 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 conlributions
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 be￿en 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 st8ff 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 10.50/0.
The Charitable company exited from the Teachers, Pension Scheme on 31 August 2024. The
Charitable company now operates a defined contribution pension scheme with Royal London Group
for teaching Staff.
1.17 Fund accountlng
Unrestricted income funds represent those resources which may be used towards meeting any of the
charitable objects of the Charttable 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 and105ses are allocated to the appropriate fund.
Page 22

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Critical accounting estimates and areas of judgernent
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 Iwo provisions included within the financial statements. full provision and
partial provision. The fu51 provision provides for 100% of balances that are not considered to be
recoverable. The parlial provision provides for balances that are doubfful debts. The tolal bad debt
provision within the financial statements is £100,160.
Impairment - Post year end, assets were transferred to Durham Education Limited and as a result. there is
an impairment loss of £5.670,363 to the Statement of Financial Activities (see note 14).
Page 23

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Income from donations and capital grants
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Donations
4,800
4,800
22,875
Total 2023
22,875
22,875
Income from charitable activities
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Tuition fees
Grants, Award8 and Prizes
Lunches
Music and Performing Arts recharges
Travel fund recharges
4,629,230
4,629,230
4,466,466
(696,261) {696,261) {609,086)
228,877
228,877
221,477
238,060
238,060
204,457
65,261
65,261
55,666
4,465.167
4,465,167
4,338.980
Total 2023
4,338,980
4,338,980
Investment income
Unrestricted
funds
2024
Total
funds
2024
Tota
funds
2023
Interest receivable
Dividend income
1,098
21,464
36,716
36.716
36,716
36.716
22,562
Total 2023
22,562
22,562
Page 24

DHS EDUCATIONAL FOUNDATION LTD
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Other incoming resources
Unrestricted
funds
2024
Totsl
funds
2024
Total
funds
2023
Registration fees
3,965
3.965
5.315
Total 2023
5,315
5,315
Expenditure
Staff Costs
2024
other
2024
Total
2024
Total
2023
School's educational operations..
Direct costs
Allocated support costs
2,865,731
937,231
1,143,044
632,394
4,008,775
1,569,625
3.947.626
1,431,317
3,802,962
1,775,438
5,578,400
5,378,943
Total 2023
3.863,043
1,515.900
5,378,943
Analysis of expendlture by activitles
Actmties
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Total
funds
2023
School's educational operations
4,008,775
1,569,625
5,578,400
5,378,943
Total 2023
3,947,626
1.431.317
5,378,943
Page 25

DHS EDUCATIONAL FOUNDATION LTD
(A company Ilmited by guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Analysis of expenditure by activities (continued)
Analysis of direct costs
School's
educational
operations
2024
Total
funds
2024
Total
funds
2023
Staff costs
Depreciation and amortisation
Other costs
2,865,731
165,795
977,249
2,865,731
165,795
977,249
2,888,704
81,678
977.244
4,008,775
4,008,775
3,947,626
Total 2023
3,947,626
3,947,628
Analysis of support costs
School's
educational
operations
2024
Total
funds
2024
Total
funds
2023
staff costs
Finance costs
Other administrative costs
Professional fees
937,231
34,414
431,875
166,105
937,231
34,414
431,875
186,105
974.339
4,940
327,745
124.293
1,569,625
1,569,625
1,431,317
Total 2023
1,431.317
1,431,317
Net expenditure
Net expenditure for the year includes-
2024
2023
Operating lease rentals
Depreciation of tangible fixed assets
30,564
165.795
32,776
81.678
Page 26

DHS EDUCATIONAL FOUNDATION LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. Auditors, remuneration
2024
2023
Fees payable to the Charitable company's auditor for the audit of the
Charitable company's annual accounts
Fees payable to the Charttable company's auditor in respect of:
All non-audit seniices not included above
14.900
13.950
650
575
11. Staff
a. Staff costs and employee benefits
Staff costs during the year were as follows..
2024
2023
Wages and salaries
Social security costs
Pension costs
2,961,346
280.227
561,389
3,015.573
314,739
532.731
3.802,962
3,863,043
During the year redundancy costs totalling £48,440 were incurred (2023.. £nil).
b. Staff numbers
The average number of persons employed by the Charitable company during the year was as follows:
2024
No.
2023
No.
Teachers
Administration
Technicians
Cleaning and Domestic
Maintenance
Mu51G Peris
Teaching Support
48
12
53
16
14
13
110
106
Page 27

DHS EDUCATIONAL FOUNDATION LTD
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
11. Staff (continued)
c. Hlgher paid staff
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was..
2024
2023
In the band £60,001- £70,000
In the band £70,001- £80,000
In the band £80,001- £90,000
In the band £100,001- £110,000
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 £568,465 (2023 - £371,349).
12.
Trustees, remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 August 2024. expenses totalling £NIL were reimbursed or paid directly to
Trustees (2023 - £NIL to Trustees).
Page 28

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
13. Intangible assets
SOf￿are
Licences
Cost
At 1 September 2023
35.708
At 31 August 2024
35,708
Amortlsatlon
At 1 September 2023
35,708
At 31 August 2024
35,708
Net book value
At 31 August 2024
At 31 August 2023
Page 29

DHS EDUCATIONAL FOUNDATION LTD
(A company limtted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
14. Tangible fixed assets
Furniture Comput-
and
Assets
Freehold equip- equipme- Academic
under
propety
ment
nt equipment construct
Totat
Cost or valuatlon
At 1 September 2023
Additions
Disposals
7,727,699 281,123 177,877
878,275
40.237
14,954
(75.713) (46,711) {719,514)
9.064,974
65,174
1841,938)
9,983
At 31 August 2024
7,727,699 205,410 171.403
173,715
9,983 8,288,210
Depreclatlon and provlslons
At 1 September 2023
Charge for the year
On disposals
Impairment
361,847 186,052
86,500
803,711
80,197 23,362
54,635
7,602
(75,713) (46,711) (719.514)
5,465.871 64,916
63,241
67,184
1,438,110
165,796
{841,938)
9,151 5,670,363
At 31 August 2024
5,907,915 198,617 157,665
158,983
9,151 6.432,331
Nat book value
At 31 Augusl 2024
1,819.784
6,793 13,738
14,732
832 1,855,879
At 31 August 2023
7,365,852 95,071
91,377
74,564
7,626,864
Within tangible fixed assets are assets held under hire purchase with net book values of £2,970 (2023:
£17,134).
Page 30

DHS EDUCATIONAL FOUNDATION LTD
IA company limited by guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
16. Fixed asset investments
Listed
investments
Cost or valuation
At 1 September 2023
Additions
Disposals
Revaluations
168.277
200.000
(200,000)
27,974
At 31 August 2024
196,251
Net book value
At 31 August 2024
196,251
At 31 August 2023
168,277
Investments comprise Investment Fund Income Shares. The fair value of the investments has been
arrived st on the basis of a valuation carried out at 31 August 2024 by CCL4 Investment Management
Limited, who are not connected with the charity.
6. Debtors
2024
2023
Due within one year
Trade debtors
other debtors
Prepayment5 and acGrued income
170,712
14,576
109,812
258.604
21,125
92,841
295,100
372.570
17. Current asset investments
2024
2023
Listed investments
475.000
Page 31

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
18. Creditors: Amounts falling due within one year
2024
2023
Bank loans
Trade creditors
53,234
150,034
59,935
9,825
1,092,970
130,752
53,234
146,369
71,936
6,854
420.057
165,262
Other taxation and social security
Obligations under finance lease and hire purchase contracts
Other creditors
Accruals and deferred income
1,496,750
863.712
2024
2023
Deferred incom8 at 1 September 2023
Resources deferred during the year
Amounts released from previous periods
14,326
83,667
(14,326)
2,935
14,326
(2,935)
83,6S7
14.326
Deferred income at the balance sheet date is in relation to monies received for school fees and courses
for periods from 1 September 2024.
Page 32

DHS EDUCATIONAL FOUNDATION LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
19. Credltors: Amounts falllng due after more than one year
2024
2023
Bank108ns
Net obligations under finance lease and hire purchase contracts
other creditors
135,976
15,163
337,090
174,434
10,280
25,000
488,229
209,714
Included within the above are amounts falling due as follows:
2024
2023
Between one and two years
Bank loans
53,234
53,234
Between two and five year8
Bank loans
82,742
121,200
The bank borrowings are sacured by means of a charge against the property.
The bank loan is repayable by monthly in8t8lments and attract interest at 1.90A over HSBC'S sterling base
rate.
Hire purchase obligatlons are $o¢ured agalnst the asset8 to whlch they relate.
Page 33

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
20. Statement of funds
Balan￿ at 1
September
2023
Balance at
31 August
2024
Gain51
(Losses)
Income Expenditure
Designated funds
Governors, discretionary fund
Extra-ordinary repair fund
Revaluation reserve - prop8ty
Revaluation reserve -
investments
75.385
92,249
2.052.677
75,385
92,249
(2.052,677)
618,277
(618,277)
2,838.588
(2,670,954)
167,634
General funds
General fund
4.911,188
4.510,648 (2,907,446) {5,670,363)
844,027
Total Unrestrlcted funds
7,749,776
4.510,648 {5,578.400) 15,670,363) 1,011,661
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 General fund represent those funds which are unrestricted and not designated for other purposes.
During the prior year appropriate expenditure was allocated to restricted funds to reduce all balances to
£Nil.
Page 34

DHS EDUCATIONAL FOUNDATION LTD
(A company limitèd by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
20. Statement of funds (continued)
Comparative infarmation in respect of the preceding year is as follows:
Balance at
1 August
2022
Balance at
31 August
2023
Transfers
inlout
Gainsl
(Losses)
Income Expenditure
Designated
funds
Governors,
discretionary
fund
Extra-ordinary
repair fund
Revaluation
reserve-
property
Revaluation
reseNe -
investments
75,385
75.385
92.249
92,249
2,052,677
2,052,677
942,105
(265,831)
(57,997)
618.277
3.182,416
(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
Page 35

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
20. Statement of funds (continued)
Balance at
1 August
2022
Balance at
31 August
2023
Transfers
inlout
Gainsl
(Losses)
Income Expenditure
Restrlcted
funds
Scholarship
funds
Travel account
Charities
account
Partnerships -
Science Sparks
Duke of
Edinburgh
Award
5,127
28,243
(5,127)
(28,243)
929
(929)
14,107
(14,107)
540
(540)
48,946
(48,946)
Total fundg
8.796,984
4,389,732 <5,378,943)
<57,997) 7,749,776
21. Analysls of not a$s•t$ batwe•n funds
Analysis of net assets between funds - current perfod
Unrestricted
funds
2024
Total
funds
2024
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
1,855,879
1,855,879
196,251
196,251
944,510
944,510
(1,496,750) (1,496,750)
1488,229)
(488,229)
Total
1,011,661
1,011,661
Page 36

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
21. Analysis of net assets between funds (contlnued)
Analysls of net assets between funds - prlor period
Unrestricted
funds
2023
Total
funds
2023
Tangible fixed asset8
Fixed asset investments
Current assets
Creditors due within one year
Creditor8 due in more than one year
7,626,864
7,626,864
168,277
168,277
1,028,061
1,028,061
(863,712) (863,712)
(209.714) (209,714)
Total
7,749,776
7,749,778
22. Reconciliation of net expenditure to net cash flow from operatlng actlvltles
2024
2023
Net expenditure for the period (as per Statement of fi'nancial activlties)
(1,067,752> (1,047,208)
Adjustments for:
Depreciation
Dividends
Decrease in debtors
Increase in creditors
Fair value gains and losses on investments
165,798
(36,71e)
77,470
942,157
(27,974)
81,878
(22,562)
84,653
41,488
57,997
Net cash provlded byl{used In) operatlng activities
52,981
(803,954)
Cash flows from financing activlties
2024
2023
Repayments of borrowing
New finance leases
(38,458)
7,854
(72,843)
17,000
Net cash used in financing actlvities
(30,604)
{55,843)
Page 37

DHS EDUCATIONAL FOUNDATION LTD
(A Company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
24. Cash flows from Investing actlvlties
2024
2023
Dividends, interest and rents from investments
Purchase of tangible fixed assets
Proceeds from the sale of investrnents
36,718
22.562
(65,174) {130,481)
475,000
850,000
Net cash provided by Investlng activities
446,542
742,081
26. Analysis of cash and cash equlvalents
2024
2023
Cash in hand
649,410
180,491
Total cash and cash equlvalents
649,410
180,491
26. Analysls of changés In net debt
At1
September
2023 Cash flow8
Other non-
cash At 31 August
changes
2024
Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
Finance leases
Liquid investments
180,491
{53,234)
(174,434)
<17,134)
475,000
468.919
849,410
(53,234)
(135,978)
(24.988)
38.458
(7,854)
(475,000)
410,689
499.523
(475,000)
435,212
Page 38

DHS EDUCATIOl+lAL FOUNDATION LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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 £60,321 {2023 - £47.493).
Teachers, Pension Scheme
The Teachers, Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, govemed 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
percentage of salary - these contributions are credited to the Exchequer. Retirement 8nd other pension
benefits are paid by public funds provided by Parliament.
Valuation of the Teachers. Penslon Scheme
The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS
in accordance with the Public Service Pensions (Valuation8 and Employer Cost Cap) Directions 2014
published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised
and managed appropriately and the review specifies the level of future contributions.
Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of
benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March
2020. The valuation report was published by the Department for Education on 27 October 2023, with the
SCAPE rate, set by HMT, applying a notional investment retum based on 1.70/0 abov8 the rate of CPI.
The key elements of the valuation outcome are:
Employer contribution rates set at 28.680/0 of pensionable pay {including a 0.08 /¢ administration levy).
This is an increase of 50h in employer contributions and the cost control.
Tolal scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for
service to the effective date of £262,000 million and notional assets (estimated future contributions
together with the notional investments held at the valuation date) of £222,200 million, giving a notional
past service deficit of £39,800 million.
The next valuation results is due to be implemented from 1 April 2028.
The employer's pension costs paid to TPS in the year amounted to £501,068 (2023 £485.238), these
being up to the point the Charity exited the scheme on 31 August 2024.
A copy of the valuation report and supporting documentation is on the Teachers, Pension website.
Under the definitions set out in FRS 102. the TPS is an unfunded multi employer pension scheme. The
Charity has taken advantage of the exemption in FRS 102 and has accounted for its contributions to the
scheme as if it were a defined contribution scheme. The Charity has set out above the information
available on the scheme.
Page 39

DHS EDUCATIONAL FOUNDATION LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
28. Operating lease commitments
At 31 August 2024 the Charitable company had commitmerrts to make future minimum lease payments
under non-cancellable operating leases as follows-
2024
2023
Not later than 1 year
Later than 1 year and not later than 5 years
30,255
21,572
25.151
41.017
51,827
66,168
29. Related party transactlons
No related parties took place in the period of account (2023- £nil).
30. Post balance sheet events
On 20 December 2024, the Charty transferred its business to Durham Education Limited, a company
registered in England and Wales. The registered address is 24 King William Street, London. England,
EC4R 9AT.
Page 40