Company R•glstrntlon Number: 06257502 IEngland & Wales) DHS EDUCATIONAL FOUNDATION LIMITED (A company Ilmlted by guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 DHS EDUCATIONAL FOUNDATION LIMITED (A company Ilmltgd by guarantaé} CONTENTS Page R•f•r•nc• and admlnlstratlvo datalls Trustses. report stst•m•nt ol trust￿. rMponilbllltl•• Ind•p•nd•nt audltorn. rnport on tha flnanclal stat•m•nts 8-11 stalement of flnanclal actlvftl•• Incorporntlng Incom• and •xp•ndltur• •c¢ount Balanca shoot 12 13 st•t•m•nl of cash flows 14 Not•• to th• Ilnanclal •l•t•m•nt• 15-34 DHS EDUCATIONAL FOUNDATION LIMITED (A company Ilmited by guaranto0) REFERENCE AND ADMINISTRATIVE DETAILS Tfustses H Mcmillan. Chair K G Barker {resigned 3 July 20261 A O Beattie (resigned 2 Juty 2026) J C Eynon I￿Signed 29 June 2026} R J Gooding K T E Harrison A J Hopper Dr M A Hyder (resigned 14 July 2026) AMRyan Cornpany rogl•t•r•d number 06257502 DHS Educational Foundation Ltd (formedy known as Durham High School for Girls) Company n•no Prlnclpal and roglstered clo Censis Exchange Buibding 66 Church Street Hartlepool Cleveland TS24 7DN Charity numb•r 1119995 Chlgf executlve officer (to Ihe polnt of sale) M Hill Koy ExoCUtIv (to Iho polnt of sale) M Hill, Headmistress P Bryan. Director of Finance and Operations Ilnterim; appointed 1 Seplember 2024, resigned 30 November 20241 L Middleton. Deputy Headrnistress K Hall, EYFS Lead C Hopper. Head of Prep and Pre-Prep J Hall. After Schwl Care Manager J Guy. Director of Finance and Operations {Interim' appointed 1 December 20241 Independent audltors Clive Cjven LLP Chartered Accountants and Statutory Audrtors Great North Hous& 20 Allington Way Darlinglon County Durham DL14QB Bankers HSBC 1 Saddler Street Dutham County Durham DHI 3NR Page 1 DHS EDUCATIONAL FOUNDATION LIMITED IA Gompany Ilmltad by guaranto0} REFERENCE AND ADMINISTRATIVE OETAILS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Sollcltors HCR Legal LLP Ellenborough House Wellington Street Cheltenham GL50 1YD Investrnenl advl8or8 CCLA Investment Management Limited One Angel Lane London EC4R 3A8 Insurance BrokerJ Marsh Education Practice Capitsl House 1- 5 Pewounl Road Haywards Heath Wesl Sussex RH16 3SY Page 2 DHS EDUCATIONAL FOUNDATION LIMrrED (A company Ilmltod by guarantO01 TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees of DHS Educauonal Foundation Limited, are also the Directors of the Charita￿e Company for the purposes of the Companies Act 2CN)6, present their annual report for the year ended 31 August 2025. The Trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice appli¢ablg to cha￿tieS preparing their accounts in accordanco with the Financial Reporting Stsndard appluble in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019). DHS Educational Foundation Limited was fomierly known as Durham High School for Girts I'the School'l. On 20 December 2024 the as5els of the School together with its rights of patents and trademarks were sold to Durham Education Limited. The operation of the School passed a¢ross lo Durham Education Limited on the same day. Th8se accounts record the op8rations of the School to compldon of the sale on 20 December 2024, together th the operations of the residuary charity from completion. Structur•, gov•rnanco and m•nag•rn•nt •. Gov•mlng Do¢um•nt DHS Educational Foundation Limited 1$ a company limited by gu8ranlee govemed by its Memorandum and Artl¢l9$ ol A$5¢xiallon dated 23 May 2007, 0$ amended by special resolutions dated 22 November 2012, 18 November 2021 and 17 November 2022, registered company number 06257502. 11 is a registered tharity vlth the Charity Commission of England and Wales, charity numb8r 1119995. The Tmstees of DHS Educatlonal Foundation Llmlted are also th8 dlr8Ctor8 of the Charltablè company lor the purrwJes ol company t8W. Delai18 of the Trustee$ who Served durfng the year, and to the dale these accounts are approved ar6 Induded In the Relerence and administrative detai18 on page 1. b. Arrnngomont• for i•ttlng pay ind r•mun•rntlon of k•y m•nag•m•nt p•rnonn•l After the sale of the 885els of the School all staff transferred across under TUPE lo Durham Educallon Ltd. Prtor to the transfer the remuneration of key management personnel was sel by the Truste88 through the Salarles Committee. The banded s81ary ranges employed were routinely benchmarked agalnsl those of other independent {and stste) schools whlch allowed the School lo remain an attractsve employer. ¢. Rolatod partl•• and other connocl•d charltl•• and organl•atlon$ Nme of the Trustees receive remuneratlon or other benefrt from their work wlth thè Charltable company. Some Trustees had relatlves who had attended the School. Thls dld not affect th6lr capablllty to make independent and fair decisions but. If there was a spec￿le situation where there may have been conflict, Truste88 V•vJld hav8 declared their Interest. Page 3 DHS EDUCATIONAL FOUNDATION LIMrrED (A company Ilmltad by guarantsol TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 ObJ•ctlv•• and activltles •. Objocts and alms Charltabl• ObJ•¢ts The object of DHS Educats'onal Foundation Limited until the sale was the provision and conduct in or near the City of Durham of a day school, induding nursery education facilitses. for primarity gids. bul boy8 were admitted to the nursery and iunior department. Since the sale the Charitsble company has focused on Supportlng educatlonal provlsion In the Clty of Durham through bursarles and grants. Charllabl• Alm• The aims of DHS Educational Foundation Llmited are.. To support the provi$lon of aducalion in the City of Durham.. To encourage academic exGellen¢e and a life-long love ofloamlng. Trustees believe the fulfilment ol these alms ￿11 enable former pupils wthin the Clty to corttdbute most effectively to the wlder communty. In the furtherance of these alms the Directors, as the charlty Trusloes, have complled wllh the duty In Sectlon 17 of the Charity'es A¢1 2011 to hava due regard lo the Charity Commission's published general and relevant su Sector guidance concemlng tha operation of the Public Benefit requlrement under that Act. b. ObJ•ctlv••, strnl•91•8 •nd •ctlvltl•s ObJ•ctlv•• lor lh• Yoar In conslderlng a 8tralegy for the School, the Board und6rtook a thorough r¢Mew of optlons for the future. The review conSide￿d several optlons and concluded the long-lerm Interests of the School would be b8$1 served by the formation of a 51rategi¢ partnarship. Negotiations look place during 2024 wtlh several potential partners vthich were narrowed down 10 8 partner of ¢hol¢e. The Trustees took profes$bnal advlce throughout the process of the review, Including the sab. Advisors included approprlately quallfied surveyors and valuers. and other 8p8clalists wilh expert knO%￿edge of the sector and charllia8. On 20 Decem￿r 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 pass80 across to Durham Education Limited on the samo day. The residuary charitys future purpose is now to support the provision of education. The Tnjslees are committed to supporting the advancement of ¢ducalion in Durham ¥￿th the provision of grants for bursaries and other forms of support. The IWe of the School conllnugd wAh vibrancy throughout the perk)d of change and the Trustees are Indebted to the staff for their commitment and support throughout the period of transition. The whol8 School was delighted to receive the award of The Sunday Time$ Independent Secondary School of the North East award in December 2024. a fitting recognition of this unique and outstanding School. Page 4 DHS EDUCATIONAL FOUNDATION LIMITED (A company limitod by guaranto8) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Straleglc report . Granl Maklng Pollcy In accordance with the Trustee$. policy of wdening access to the School, during 2024125 a total of £217,059 {2024: £696.2611 was awarded in bursaries, pi*$ and scholarships to 143 pupils {2024: 161). The School's F4Jlicy wa$ to award scholarships on the basis of merit and bursaries on the grounds of finanaal hardship. The availability of all such awards for fee assistance. together with the lems and conditlon$ for each kind of award. was advertised on the sch￿I,s website as well as on application. In addition, and in line with ¢haritable objects. DHS Educational Foundation Limited made grants of £300,000 {2024.' £Nil) to the School after completion and during the remainder of the financial year. Flnan¢lal rnvlow . Resufts for the year The TfU$tees Trport a deficit for the year of £673,680 12024.. £1,067,752) which was as predicted, after accounting for an operating deficit up to the point of sale, legal and professional costs of the sale and grants to Durham Education Ltd for the Lent and Summer ternis. b. R￿Or¥•$ pollcy The notes to the financial statements disclose the assets and liabilities of the Charitable company. Unrestricted fvnds amount to £338k12024.. £1.Oml of this, the freely available balance stand$ at £338k12024 £1.Oml- The Trustees, policy is lo make further grants for edu¢alional purposes as re$erves be¢ome available. whllst tsining sulfi¢ient funds for immediale wnning costs. c. Investment pollcy Subject to the resetve$ pjicy the Trustees aim to distribute available liquid fvnds. There wll not be surplus funds that require investrnent. d. Prfnclpal rlsks and uncertalntl•s There are still some debts to the charitable company represented by unpaid fees incurred before the sale of the School. The Trustees are rigorously pursuing the collection of all oulstsnding monies. There remains however risk that some monies may not be collected. Appropriate pmvision has been made against any amounts that are considered at risk of not being collected. Fundralslng The Trustees are not intending lo fundraise. Plans for future POTlods The Trustees are committed to supporting the advancement of education wrlh the provision of grants for bursaries and other foms of support. Page 5 DHS EDUCATIONAL FOUNDATION LIMITED (A Gornpany Ilmltod by guarantso) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Dlsclosurn of Infomiatlon lo audltors In50far as the Trustees are aware: there 1$ no relevant audit inforrnation of which the charitable companys auditors are unaware, and Ihat Trustees have taken all steps that they ought lo have taken to make themselves aware of any relevant audit info￿natIon 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 . and signed on its behalf by. 25418-2026 UTC ID.. YPIOGZ3PYI... (Trustee) Page 6 DHS EDUCATIONAL FOUNDATION LIMITED (A company limltod by guarantea) STATEMENT OF TRUSTEES. RESPONSI8ILrriES FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees {vIl￿ are also tre diwtors of the charitable company for the purposes of company lawl are responsible for p￿Paring the Trustees, report and the financial statements in accordants with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepa￿ financial statements for each financial year. Under company law, the Trustees rnu$t not approve the financial statements unle$s they are satisfied that they give a true and fair view of the state of affairs of the ¢haritsble company and of its incoming resource$ and applicatson of resources, Including its InL￿Me and expenditure, for that perty)d. In preparing thes8 financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently, observe the m8thc4Js and principles of the Charities SORP {FRS 1021.. make judgements and accounting esb'mates that are reasonable and prudent. stste whether applicable UK Accounting Standards have been followed, $ublect to any material departures disdosed and explained in the financial statements., prepare the financial ststements on the going C•)ncem basls unless It is inappropriate to presume thal th8 charitable company will Th￿tinue in business. The Tru$tee$ aTr responsible for keeping adequate accounting records that are sufficient to show and explain the charitable compan¥s transactions and disdose ￿th reasonable accuracy al any time the finanual position of the charitable company and enable th8m to ensur8 that the ftnancial statements comply with the Companies A¢t 2006. They are also reswnsible for safeguarding the assets of the charttable Lximpany and hence for taking reasonable steps for the prevention and detection of fraud and other irregLblar￿e$. pproved by order of the memt*rs of the Board of Trustees and signed on its behalf by. JGZ3PYI... (Trusteel Dale= 25-0&2026 UTC Page 7 DHS EDUCATIONAL FOUNDATION LIMrrED (A company limltod by guaranto0) INDEPENDENT ALIDfTORS' REPORT ON THE FINANCIAL STATEMENTS TO THE MEM8ERS OF DHS EDUCATIONAL FOUNDATION LIMITED Oplnlon We have audited the financial statements of DHS Educational Foundalion Limited {the 'charitable company) for the year ended 31 August 2025 which comprise the Statement of Financial Actiwties. the Balance Sheet. the ststement of Cash Flows and the related note5, induding a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law, United Kingdom Accounting Standards including Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP IFRS 102)). the Charities Act 2011 and the Compantes Act 2006. In our opinion the financial stslements.. give a true and fair wew of the slate of the Charltable compan￿$ affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended; have been properly prepared in accordance ￿th United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Charities SORP and Companies Act 8451$ for oplnlon We conducted our audit in accordance ￿th Intemational Standards on Auditsng (UK} (ISAS IUKII and applicable law. Our responsibilities under those stsndards are further described in the Auditors, responsibilities for the audit of the financial stslements section of our report. We are independent of the Charitable cofflpany in accordance Nwth the ethical requirements that are relevant to our audit of the financial statements in the United lthngdom, including the Financial ReF)Orting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance wth these requirements. We believe that the audit emdence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng concorn In auditing the financtal statements, we have ￿nduded that the Trustees. use of the golng concem basls of accounting in the preparation of the financial slatements is appropllate. Based i>n the work we have perfomied. we have not identsfied any material uncertainties re￿ting to events or conditions that, indiwdually or collectively. may cast significant doubt on the Charitable companls abilty to Gontinue as a going ￿)nCern for a period of at least tsvelve months from when the financial statements are authorised for issue. Our re$pon$ibilibes and the re9K￿lS￿bIlltses of the Trustees with respect to going concem are described in the relevant sections of this report. Page 8 DHS EDUCATIONAL FOUNDATION LIMITED {A company limitgd by guarants•) INDEPENDENT AUDITORS. REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF DHS EDUCATIONAL FOUNDATION LIMITED (CONTINUED) Othor Inforniatlon The other infomiation comprises the infomiation Included in the Annual report other than the financial statements and our Auditors, report Ihereon. The Trustees are responsible for the other infom)ation contained vrithin the Annual report. Our opinion on the financial statements does not cover the other information and. except to the 8xt8nl otherwise explicilly staled in our report, we do not express any fomi of assurance conclusx)n thereon. Our responsibility is to read the other information and. in doing so. consmler whether the other information Is materially inconsislenl wth the financial statements or our kll￿￿edge obtained in Ihe course of the audit, or otherwise appears lo be rnaterialty misstated. If we ￿entify such material inconsistencies or apparenl materfal misstatements, we are required lo determine whether this gives rise to a material misststement in the financial stslements themselves. If, based on the V￿rk we have performed. we conclude that there Is a material misstatement of this other Infomi8tion. we are required lo report that fact. We have nothing to rewrt in this regard. Oplnlon on other mattorn prescrlbed by the Companlos Act 2006 In our opinion. based on the work undertaken in the course of the audit: the informalion gtven in the Trustees. Report for the financial year for Nthich the financial statements are prepared is consistent wth the financial stslements. Ihe Trustees. Report has been prepared in accordance ￿th applicable legal requirements. Mattels on whlch wa •rn roqulrgd to r•port by exceptlon In the light of our knovledge and understanding of the Charitable company and its environment obtsined in the course of the audiL we have nol identified material misstatements in the Trustees, Report. We have nothing to report in respect of the follow￿ng matters in relation to which the Companies Act 21x16 requires us to report to you rf. in our opinion.. adequate accx)unting records have not been kepL or retums adequate for our audit have not been received from branches not visited by us., or the finan¢ial $talements are not in agreement wth the accounting records and retums. or certain disdosures of Trustees. remuneration specrfied by law are not made: or we have not received all the infomation and explanations we require for our audit. RMponslbllltl•s of tru81908 explain&J m(Ye fulty in the Ststemenl of trustees, responsibllitles. the Trustees {￿0 are also the dlrectors of the Charitable company for the purposes of company lawl are responsible for the p￿paration of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Trustees detennine is necessary to enable the preparation of financial slatemenls that are free from material misststement, whether due lo fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charitsble companvs ability to continue as a going concem. disclosing. as applicable. matters related to going concem and using the going concern basis of accounting unless the Trustees either intend lo liquidate the Charilabl8 company or to cease operations, or have no realistic altemalive bvl to do so. Page 9 DHS EDUCATIONAL FOUNDATION LIMrrED (A company IRmited by guarantee) INDEPENDENT AUtwroRS' REPORT ON THE FINANCIAL STATEMEpifs TO THE MEMBERS OF DHS EDUCATIONAL FOUNDATION LIMrrED {CONTINUED} Audltors. rosponslblllti•s for tho audit of the flnanclal statoments Our objectives are to obtain reasonable aysurance atxjrt vthether the financial statements as a thole are free frcKn material misstatement. whether due to fraud or errcK. and to issue an Audrlors, re[￿ that includes our opinion. Reasonable assurance is a high level of assurarKe, but is not a guarantee that an audit conducted in accordance ISAS IUKI dete¢t a material misslatement when it exists. Misstatements can arise from fraud or error and are considergj material rf, iThJiwdualty or in the aggregate. they could reasonably b8 expected to inflU￿Ce the ecorM)mic decisions of users tsken w the basis of these financial statements. Irregulariknes. includirwj fraud. are instan¢es of non*￿P1kgnce ¥￿th lav•S and regulations. We desKJn procedu in line with our ￿ponsibIlI￿e$, oullined above. to detect materi4 misstatements in respect of irregufaribes, induding fraud. The extent to vthich our prc¢edures a￿ ¢apable of detecting irregularities. including fraud is detailed bebw.. We undertake the folIcw￿TrJ procedures to Kjentify and reSrO￿ to these T￿S of rM)n-oMplianc£.' Understsnding the key legal and reguaft(yy frame*Drks that ar8 applicable to the Charilable company. We mmuni￿ted idenffied laws and regulations througlM)ul the audit team and remained alert to any indications of non N•1 curr•nt11S•bllltl••l l ••••ts 337,981 (552,2401 Total a•8018 l•1• curr•nt Ilablllti 337.981 1.499,890 Cr•dltors.' amounts falllng due after more than one 18 1488.2291 Tolal a•••ts 337,981 1,011.661 Fund• of th• Charltabl• company R•8trlct•d funds Unre8tr1cted Income fund$ 19 De81gnated funds General funds 19 19 167,634 844,027 337.981 Totsl unr••trl¢t•d Incom• fvnd8 19 337,981 1,011,661 Total lundi 337.981 1,011,661 The flnanclal statement5 have been prepared In accordance with the provisions applicable to entibos 5ubjeGt to the small companies ragime. The finandal Statements on pages 12 to 34 were approved by the Trustees, and authorised for issue on and are signed on their behalf, by.. 25-08-2026 UTC IOGZ3p￿... ITru$tso1 The notes on pages 15 to 34 form part of these financial slatemenls. Page 13 DHS EDUCATIONAL FOUNDATION LIMrrED (A company Ilmltod by guarant••l STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Not8 Cash flow• from op•rntlng actbvltl•s Net cash {used inyprovhjed by operating activities 21 (2.132,623) 52,981 C•sh flow• from Inv••tlng actlvltl 23 2,000.000 446,542 C•sh flo￿ from flnanclng actlvltlos 1214,1981 {30,604) Chang• In rA•h •nd ¢a•h •qulval•nts In th• yoar {346,821} 468,919 Cash and ca8h equivalents at the bgglnnlng of the yoar 649,410 180,491 Cash and cash •qulval•nts al lh• •nd of lh• y••r 24. 25 302,589 649,410 The notes on page$ 15 to 34 lom part of these flnanclal 8t8lemonts Page 14 DHS EDUCATIONAL FOUNDATION LIMITED (A company lirnitsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcles DHS Educational Foundation Limited is a private company limited by guarantee incorporated in England and Wales. The registered offic8 and Truslees a￿ as listed on page 1. A summary of the principal accounting policies adopted (￿Ich have been applied cons¢stently, except where noledl. judgements and key sources of estimation uncertainty. is set out below. 1.1 8asls of proparatlon of flnanclal slatements The financial statements have been prepared in accordance with the Charities SORP {FRS 1021- A¢¢ounting and Rewrbng by Charities.. Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} (effective 1 January 20191, the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. DHS Educational Foundation Limited meets the definiknon of a public benefit entty under FRS 102. 1.2 Golng concem The Trustees asse55 whether the use of going concem is appropriate i.e. vthether there are any material uncertainties related to events or conditions that may cast significant doubl on the ability of the Charitable company to continue as a going concern. The Trustees make this assessment in respe¢l of a period of at least one year from the dale of authori$ation 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 companls ability lo continue as a going concem. They continue to adopt the going concem basis of accounting in preparing the finan¢ial $talements. On 20 December 2024, the Charitable company transferred its business to Durham Educats'on Limited, a company registered in England and Wales. The registered address is Minerva 29 East Parade. Leeds. LS1 5PS. Page 15 DHS EDUCATIONAL FOUNDATION LIMITED (A company Ilmltod by guarantsg1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 £countlng pollcl•s (contlnued) 1.3 Income Fee income.. Fees receivable were accounted for in the period in which trte serviee was provided and V•we ststed after deducting allowances. scholarships and other remissions granted by the sch￿1. other income.. All other income is recognised once the Charitable company has entiuemenl to the incorne, il is probable that the income wll be received and the amount of income receivable can be measured reliably. Discounts from fees were given as follows: Staff Discount: A staff discount of 113 of fees to be available to all fvll time Stsff and pr￿rats for part-time staff. Family Dis¢ount.' A family discount of 114 was given on the fees of the eld8St chikl from a household where there were three daughters attending the Sth¢)ol. l incoming resources are recognised when the Charitsble company has entitlement to the funds, the re¢eipt is probable and the amount can be measured reliabty. Donatlons Donations are recognised on a receivable basis (where there are no perfOman¢ev￿laled conditions) ere the re¢eipl 1$ probable and the amount can be reliably measuT8d. 1.4 Expendlturn Expenditure is recognised once there is a legal or construclive obligation to transfer economic benefit to a third party. it is probable that a transfer of economic benefits wll be required in $ettlefflenl and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the totsl of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributsble to a single activity are allocated directly to that activity. Shared costs which contribute lo more than one acts.vity and support ¢o$ts which a not attributable lo a single activity are apportioned be￿een those activities on a basis consistent the use of resources. Central stsff costs are allocated on the basis of ts'me spent. and depreciation charges allocated on the portion of the asset's use. Charltable actlvltle• These are costs inCu￿ed on the Charitable ¢ompans1s educational operations. induding support costs and costs relating to the governance of the Charitable company apportioned to charitable actiwtses. Grants payable These are charged in the year when the offer is made except In those cases where the offer Is cond¢tsonal, such grants b8ing recognised as expenditure when the conditions attaching are fu￿1]led. Grants offered subject to collditions which have not been met at the year end are noted as a commiknenl. but not accrued as expenditure. I resources expended are indusive of irrecoverable VAT. Page 16 DHS EDUCATIONAL FOUNDATION LIMITED (A company limitod by guarants•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng poll¢lo9 (contlnu•d) 1.5 Grnnts and Bursarfo• Grants and bursades from unrestricted and deS￿nated funds wer• Included 89 expenditure in tha P8ri¢yJ for which the award was given. Bursaries and allowances from unrestrlcted fund8 towards S￿￿1 fees were treated as a reduction in those fees. Govemmenl grants - revenue based grants wore credlted lo the Stal8ment of Financial klvltie8 when receivable. 1.6 Taxatlon The Charitable company is exempt from corwration tax on Its charitable adlvltles. 1.7 T•nglbl• flx•d a•••t• Assets costing £300 or more were capilalised a8 tangible fixed assets and were carried at cost, net of depreciation and any provision for impaimienl. Depreciation was provkled on all tangible fixed 8$s8ts other than froohold land and assets under construcb'on, al Tate8 calculated lo write off the Cost of each asset on a slraighl-line basi5 over expected u8eful lrfe, a8 follows: The estlmaled useful Ilves were as follows.. Freehold Land Freehold Bullding Offic6 Equlpment Academic Equipment Assets under construction No depreclatlon 100 years 3- 10 years 3- 10 years - 4 years A rev68w for Impalmienl ol a fixed asset was carrlod out if ov•nts or ¢hang8s in droJmstances indi¢ate that the carrying value of any fixed asset may not be recoverable. Shortfalls befv488n the Carr￿ng value of fixed assets and their recoverable amounts were recognised as impaiments. Impainnenl losses were recognised in the Stslement of Financlal Aclivilles. 1.8 Inv••trn•nts Fixed asset investments were a forni of financial instrument and were initially recognised at Ihelr transaction cost and subsequently measured al fair value at the 8alance Sheet date. unless the value could not be measured r8liably in which case it wa$ measured at cost less impaimant. Inv8slm8nl galns and losses. whether realised or unrealised. were combinèd and pr8senl8d as 'Gainsl(Lo8888) on investments, In the Slalement of Flnancial Aclivilies. 1.9 Oabtor• Trade and other debtor5 are recognised al the settlement amount after any trade dlscount offered. Prepa￿ents are valued at the amount prepaid net of any trade discounts due. 1.10 Cash •t ￿nk and In hand Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short malurty of three months or less from the date of acquisition or opening of the deposit or similar a¢count. Page 17 DHS EDUCATIONAL FOUNDATION LIMITED (A company Ilmlt•d by guarantO0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcl•i (contlnu•d) 1.11 Llabllltl•• Liabilities are recognised when there is an ¢Jbligation al the Balan¢e sheel date as a result of a past event. it is probable that a Iransfer of economic benefit will b8 required in settlemenl, and th8 amount of the settlement can be estimated reliabty- Liablllties are recognised al the amount that the Charitsble company anti¢ipale$ 11 will pay to settle the debt or the amount it has received as advanced payrnents for the goods or 8eNces It must provide. 1.12 Provl$lons Provisions are recognised ￿en the Charitable company ha8 an obligotlon at the repordng dale as a result of a pa$t event which it is probable I￿11 result In the transfer of econom1¢ bonefits and tha oblvjation can be eslimaled reliably. Provisions are measured al the best estimate of the amounts required to settle the oblKJalion. Where the effect of tho Ume value of money Is mal8dal. the provl$lon 1$ based on the present value of those amounts. discounted at the pre-tax discount Tate that reflects th8 risks specific lo the liability- The unvAndlng of the dlscount18 recognised withln Interest payab18 and 81milar char988. 1.13 Flnanclal In•trum•nt• The Charttable company only holds baslc financial Instrum8nls 88 deflned In FRS 102. The financlal assels and financlal Ilabllitles of th8 Charltable company and tholr mea8urement bases are as folk)ws.' Flnanclal assets - trade and other debtors are basic financial in$tNmenl$ and aro debt Instruments measured al arnortised cost as detailed in note 16. Pr8paym8nls are not financial instruments. Cash al bank Is cla55Med as a baslc finandol Instrument and18 measured 81 f8C8 value. Flnanclal liabilities trade creditors, accrua15 and other creditors are financlal Instruments. and are measured al amortlsed cost as detailed in notes 17 and 18. Taxation and social security are nol included in tho financial in$tNmenls disclosure definition. Deferred income Is not deemed to be financial liability, as the cash settlernent has already taken plo¢8 and th8re18 an obllgatlon to deliver $eNlces rather than cash or another financial instrum6nL 1.14 Fln•n¢• l•a••• and hlrn purchasfr Leasing agreement5. which transferred to the Charitsble company substanllally all the rfsks and rewards Incldental to ownershlp of an asset, were treated as finance leases. Asels held under finance leases were recognised initsally al the fair value of the leased asset or, ff l¢)wer, the prèsent value of minimum lease payments as delemiined at the inception of the lease. Th8 corresponding liability to the lessor was Included in the balance sheet as a finance lease obligation. Assets held under finance leases were Included In tangible fixed assets and depreciated over the shorter of the lèase lemi and the estimated useful economic lrfe of the asset and assessed for impaimènt10sges in the same way as for owned assets. Minimum leas8 payments were apportioned be￿een the finance charge and the reduction of th8 outstsnding liability. The finance charges were allocated lo the Ststemenl of Financlal Activibes. over the period of the leas8. in proportion to the capitsl element outstanding. Page 18 DHS EDUCATIONAL FOUNDATION LIMITED IA company lirnltod by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 A¢¢ountlng pollclas Icontlnu•d} 1.15 Operntlng1oa••8 R6ntsls paid under operating 18ases were charged to the Stslement of Financial Actwities on 8traighl line ba$ls over the leas8 term. 1.16 P•n*lon• The Chantablo company 6xlted the Teachers, Penslon Scheme on 31 August 2024. The Charttable company operated a defined wntribulion p6nslon scheme with Royal London Group for t6a¢hlng staff. Non-academic staff were offered retiffjment benefits by Joining the Durham High School Pension Scheme, a money purchase scheme, the provider of whlch was Cle￿¢81 Medlcal and General Lffe As$uran¢e Soclety. This scheme was also available to staff who were not eligble lo joln the Toach8rs' Penslon Scheme. The rale of School conlrfbutlon dudng the year was 10.5%. 1.17 Fund accountlng Unro$trf¢tod Incomo funds repTrsent those resources whlch may be used loward8 meeUng any of the charitable objects of the Charitsble company at the discretion of the Trusleos. Deslgnated funds ¢ompri$ed unrestrl¢ted funds that have been set a$lde by tho TruSt￿S for particular purposes. The alm and use of each deslgn81ed fund Is set out In the notes lo the flnon¢lal statements. Inve81menl Income. gain8 and108888 were allocated lo the approprlate fund. CrltlrAI a¢¢ountlng ••tlm•t•• and ar•i• of Judg•m•nt E8timat88 and ludgements are conlinu811y evaluated and are based on hl8torlc81 exp8rl8nce and other factors. Including expectations of futur8 events that are belleved lo be reasonable under the clr¢um$tsn¢es. Crillcal accountlng estSmate8 and assumptlons: Debtor provisth - There are two prow$lon$ induded within the financial ststements,. full provislon and partial provIs￿n. The full provision provides for 100% of balances that art not con$Kl6r6d to be recoverable. The partial provision provides for balances that are doubtful debts. Incorno from donatlons and capltal grants Unrestrided funds 2025 Totsl fvnd$ 2025 Total funds 2024 Donations 4,700 4,700 4,800 Tot812024 4,800 4,800 Page 19 DHS EDUCATIONAL FOUNDATION LIMrrED IA ¢ompany limitgd by guarantsè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 In¢om• from charltabl• actlvitiOS Unrestricted funds 2025 Total funds 2025 Totai ftsnds 2024 Tuition fees Grants, Awards and Prizes Lunches Music and Perforning Arts recharges Travel fund recharges 1.481.539 {217.059) 71,084 68.611 28,394 1,481,539 4,629,230 1217.059) {696,261) 71,084 228,877 88,611 238,060 28,394 65,261 1,432,569 1,432,569 4,465,167 Total 2024 4,465,167 4.465,167 Invo$tm•nt Incom• Unrestricted funds 2025 Total funds 2025 Total fvnds 2024 Dividend in¢ome 36,716 Total 2024 36,716 36,716 other Incomlng resourcos Unrestricted funds 2025 Total funds 2025 Total funds 2024 Registration fees Surplus of funds recelved on transfer 975 175.410 975 175.410 3.965 176,385 176.385 3.965 Totsl 2024 3,965 3,965 Page 20 DHS EDUCATIONAL FOUNDATION LIMrrED (A company limited by guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Expendltur• Stsff Costs 2025 other 2025 Totsl 2025 Total 2024 Direct costs Jlocated Supwt costs 727.21X) 310.324 431,177 818.633 1,158.377 1.128.957 4.008,775 1,569,625 1.037.524 1,249,810 2.287.334 5.578,400 Total 2024 3.802.962 1.775.438 5.578,400 Anatysls of 9X￿nd[tUr0 by actlvltlos Activities undertaken directy 2025 Supwrt costs 2025 Totsl funds 2025 Total funds 2024 1.158.377 1.128.957 2.287.334 5,578.400 Total 2024 4.￿8,775 1.569.625 5,578,400 Anaty•l$ of dlr•ct costs educational operations 2025 Total funds 2025 Total funds 2024 staff o)sts Depreciation arKI amortisati Other costs 727,2C 55.879 375.298 727.200 55,879 375,298 2.865.731 165.795 977.249 1,158,377 1,158,377 4.008,775 Total 2024 4,008,775 4.C(18.775 Page 21 DHS EDUCATIONAL FOUNDATION LIM￿ED (A company limited by guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2025 Anaty•l8 of •xp•ndltur• by actfvltl•s (contlnu•d) Analysli ol lupport co•ts School's educational operation$ Totsl fvnds 2025 Total fvnds 2024 2025 staff costs 310,324 365 310,324 365 300,000 228,682 289.606 937.231 34,414 Finance costs Grants pald other admlni$trotlve ¢￿ts Professlonal fees 300,O¢X) 228,662 289,606 431,875 166.105 1,128.957 1.128.957 1.569.625 Total 2024 1,569.625 1.569,625 Not •xp•ndltur• Net expendlture for Ihe ￿ar includes.. 2025 2024 Operating lease rentals Depreclation of tanglble flxed assats 12,438 55,879 30,$64 165,795 10. Audltor¥' r•mun•ratlon 2025 2024 Fees payable to the Charltable companys auditor for the audit of the Charitable companls 8nnuaS accounts Fees payable to the Charltable companvs auditor in respect of.. All non-audlt seplce8 not Induded above 10,5IXI 14,900 650 Page 22 DHS EDUCATIONAL FOUNDATION LIMrrED {A company limltgd by guaranteo) NOTES TO THE FINMCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 11. Staff a. Staff costs and employ0• hn•flts Staff costs during the ￿ar were as follows.. 2025 2024 Wages and salaries Social security costs Pension costs 862.969 69,885 104,670 2.961,346 280.227 561.389 1,037,524 3,802,962 Durlng tho year rodundancy costs totalling £4.748 were incurred (2024: £48,440). b. St•ff numb•r• The average number of person8 employed by the Chadtable comp8ny during the year was 88 follows.. 2025 No. 2024 No. Teachern Adminlstratlon Technicians 42 12 48 12 Cleaning and Dome8tsc Maintenance Music Pens Tea¢hing Support 20 16 10 14 11 13 111 110 The average employees represent staff employed in the four months to the date of th8 transfer of trade. Page 23 DHS EDUCATIONAL FOUNDATION LIMITED (A company limited by guarant•a) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 11. Staff IcontInu￿) c. Hlgher pald stsff The number of employees whose employee benefits (excluding ernployer pension costs) exceeded £60,000 was: 2025 No. 2024 No. In the band £60.001- £70.000 In the band £80,001- £90,000 There were no higher paid staff disclosable in the accounts to 31 August 2025 betsuse all stsff were employed from 1 September 2024 to 20 December 2024 and no indimdual's eamings in that period was over £60,IXN). d. Koy managomfrnt personnel The key management personnel of the Charitsble company comprise the Trustees atvj th8 Senior management team as listed on page 1. The total amount of employe& benefits linduding employer pension contributions and employer national insurance contributior¢s) received by key management personnel for their semces to the Charitable company for the four months to that date of the transfer of trade wa$ £132.86512024 - £568.465). 12. Trusteas. remunoratlon and expenses DuriThJ the year, no Trustees ￿￿1ved any remuneration or other benefits {2024- £NIL). During the year ended 31 August 2025, expenses totalling £168 were reimbursed or paid directty to 1 Trustee for slaff leaving gifts (2024 - £NIL to TnJsl8esl. Page 24 DHS EDUCATIONAL FOUNDATION LIMITED (A company Ilrnlted by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 13. Intanglbh as8•t• Sothvar8 Licences Cost At 1 September 2024 Dl$po$al8 35,708 {35.708) Al 31 August 2025 Amortlsatlon Al 1 September 2024 On dl$poso1s 35.708 (35,708) At 31 August 2025 N•t book valu• At 31 August 2025 At 31 August 2024 Page 25 DHS EDUCATIONAL FOUNDATION LIMrrED {A company limitod by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 14. Tanglble fix•d assets Compul- Fumilure er Assets Freehold and equip equipme- Academ1¢ under propety ment nt equipment construct Total Cost At 1 September 2024 Disposals 7.727.699 205,410 171,403 173.715 9,983 8,288,210 {7,727.699} 1205.410) (171,403) 1173.715) {9.983} (8.288.210) Al 31 August 2025 Depr•c•atlon At 1 September 2024 Charge for the year On disposals 5.907,915 198.617 157,665 158.983 9.151 6.432,331 19.784 6,793 13.738 14,732 832 55,879 {5.927.6991 (205,4101 1171,403) (173,715) 19.983) (6.488.210) At 31 August 2025 Not book value Al 31 August 2025 Al 31 August 2024 1,819,784 6,793 13,738 14,732 832 1.855.879 Within tangible fixed assets are assets held under hire purchase with nel book values of £nil 12024: £2.9701. Page 26 DHS EDUCATIONAL FOUNDATION LIMrrED IA company Ilmltsd by guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 15. Flx•d as••t InvMtm•nts Listed Invesknents At 1 September 2024 Disposals 196.251 (196,2511 At 31 August 2025 N•t book valu• At 31 August 2025 At 31 August 2024 196,251 Investrnonts c£¥nwlse Investrnent Fund Income Sharos. Tho fair value of the investment8 was Fxeviou8ty arrived at on the basis of a valuation out 8t 31 August 2024 ty CCLA Investm&nl Managemenl Limited. vrtK> are not conne¢led with the charitabb company. The in¥e8th)¢nts transferred as part of the sale agreement in December 2024. 16. Debtors 2025 2024 Du• wlthln on• y•ar Trade debtors Other debtors Prepayments arKI accrued Income 44,233 8,066 170.712 14,576 109.812 52,299 295,100 Page 27 DHS EDUCATIONAL FOUNDATION LIMrrED (A company Ilmlted by guarantO01 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 17. Cr•dttor•'. Amounts falllng du• wlthln on• y•ar 2025 2024 Bank knans Trade credltofs other laxation and soclal Security Obligations under financ8 lease and hire purchas6 contracts Other Creditors Accruals and deferred Incoma 53,234 150.034 59,935 9,825 1,092,970 130.752 16.907 16,907 1,496.750 2025 2024 Deferred Income al 1 September 2024 Resources deferred during the year Amounts released from prevDu$ per￿$ 83,667 14,326 83,667 (14,326> (83,867) 83,667 Defarred Income al the balance sheet date was In relatlon to monles re¢elv8d for schocA fees arKI cours88 for future academi¢ years. Page 28 DHS EDUCATIOIIAL FOUNDATION LIMITED IA company limltod by gu4rnnto0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. Cr•dllors: Amounls falllng du• after mora than on• year 2025 2024 Bank loans Net obligations under financ& lease and hire purchase contracts Other creditors 135.978 15,163 337,090 488,229 Induded withln thè ab)ve are amounts falllThJ due as follow8.. 2025 2024 B•twMn on• and two y••r• Bank loans 53,234 B•tw••n two and Ilv• y•ar• Bank loans 82.742 The bank borrovAngs were 86cur6d by m6an8 (rf a charge agalnsl the propety. Tho bank loan was r8payable ty monthly In8ts1ments and attractsd Interèst at 1.9% ovor HS8C'8 sterling base rate. Hlre purch￿• obligations were secured agalnst the a$$ets lo whlch they relatad. Page 29 DHS EDUCATIONAL FOUNDATION LIMITED (A ¢ompany limltod by guaranto01 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 19. Stat•ment of funds Balance at 1 September 2024 Balance at 31 August 2025 Tran8leryJ Inlout Income Exp8nditure D•slgnat•d fund• Govemors, dlscretionary fund EXtra￿rdinary repair fund 75,385 92,249 {75,385) (92,249) 167,634 1167,634} G•n•rnl fund• General fund 844,027 1,613,654 12,287,334) 167.634 337,981 Total Unr••trf¢t•d fund8 1,011,661 1,613.654 {2.287.3341 337,981 The specmc purpog6s for whlch the funds are to b8 applied are as follows: The Governors, dlscretlonary fund wa8 to be used at tho dlscrelknn of the Board for bur80rleg or other projects. The Extra-Ofdin8ry repalr fund was a o$erve to allocate funds to the repair of the S¢hool. The G¢ner81 fund represenls those funds which are unreslricled and not designated for other purp08e8. The transfer between funds relat88 to funds no longer deslgnaled gfven the transfer of trad8 In December 2024. Page 30 DHS EDUCATIONAL FOUNDATION LIMITED (A company Ilrnltod by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 19. Statam•nl of funds Icontlnuod) Comparative infonnation in respe￿ of the preceding year is as folk)ws: Balance at 1 September 2023 Balance at 31 August 2024 Gainsl (Losses) Income Expenditure Deslgnatod funds Govemors. discretionary fund Extr&(Kdinary repair fund Revaluation reseThe - propety Revaluation reserve - investments 75,385 92,249 2.052,677 75.385 92,249 (2,052.677) 618,277 {618,277) 2,838,588 12.670,954) 167.634 General funds General fuThJ 4,911,188 4,510,648 12,907,446) (5,670,363) 844.027 Totsl Unrostrlct9d funds 7,749.776 4.510.648 (5.578.400) (5,670,363) 1,011,661 20. Analysls of net assels betwoen funds Analyols of net amel8 between funds - currenl yoar Unrestricted funds 2025 Total funds 2025 Current assets Creditors dLte wthin one year 354,888 (16.￿7) 354,888 {16.9071 Total 337.981 337.981 Page 31 DHS EDUCATIONAL FOUNOATION LIMrrED {A ¢ornpany limitod by guarant•a) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 20. Analys1• of net assets ￿tW￿ry funds (contlnuodl Analysls of net assets bolwaon funds . prlor y•4r Unrestricted funds 2024 Total funds 2024 Tangible fixed 8SS8ts Fixed asset irwestrnents Current assets Creditors due wthin one y8ar Creditors d4Je in more than one year 1.855.879 1.855.879 196,251 196,251 944.510 944.510 (1,496,750) (1,496,750} {488.2291 (488.2291 Total 1.011.661 1.011.661 21. Reconclllatlon of net expendlture to net cash flow from op&rntlng •ctivltl 2025 2024 Net expenditure for the year la$ per Statement of financial activities) {673.680} 11.067.752) Adjustmonts for: Depreciation Dividend$ Decrease in debtors (Decreaseyin¢￿se in ¢redilors Fair value gains and losses on investments 55,879 165,796 {36.716) 77,470 942.157 (27,974) 242,801 {1.757.623) N•t ¢a$h (us•d Inyprovlded by oporatlng actFvltles (2.132.623) 52,981 Cash flows from flnanclng acllvltles 2025 2024 Repayments of borrowng New finance leases Repayments of finance leases (189.210) (38,458) 7,854 (24,988) Not cash us•d In flnan¢lng actlvltlgs {214,198) 130,604) Page 32 DHS EDUCATIONAL FOUNDATION LIMITED IA ¢ompany Ilmlt•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 23. Cash flows Irom Investlng actlvltla• 2025 2024 Dividends, inler8sl and rents from investments Purchase of tangible fixed assets Proceeds from the Sale of investhients Proceed8 from the sale 36,716 {65.174) 475,¢XJO 2,000,000 N•t cash provldod by Invutlng actlvltlo8 2,000,000 446.542 An•ly•l• of c••h •nd ca•h •qulv•l•nts 2025 2024 Cash In hand 302,589 849.410 Total calh and c•8h •qulv•l•nts 302,589 649,410 25. Anoty•1• ol ¢h•ng•• In n•t d•bt A11 Septemb8r 2024 fAsh (Xher non- cash At 31 August Changes 2025 Cash at bank and In hand Debt due wthin 1 year Debt due after 1 year Finance leases 649,410 (53.234) 1135,976) (24,988) 1346,8211 302,589 53.234 135,976 24,988 435.212 1321.8331 189.210 302.589 Page 33 DHS EDUCATIONAL FOUNDATION LIMITED (A company Ilmltod by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 26. P•nslon commltments The Charitsble ￿rnpany exlted the Teachers, Pension Scheme England and Wales on 31 August 2024. The Charitable company operated a defined contribution p8n$ion scheme for academic and related staff. The Charitsble company operated a defined contribution pension scheme lor all non-leaching stsff. The assets of the scheme were held separately from those of the Charitsble company in an independently administered fund. Conlributions amountsng to £Nil (2024.. £70,742) were payable to the schemos at 31 August 2025 and are Included wthin creditors. 27. Op•rntlng l••s• comrnltm•nt• Al 31 Augu$t 2025 the Charitable Company had commitrnents to make future mlnlmum lease payments undar nona¢an¢ellable operatirrfJ leases as follows: 2025 2024 Not later than 1 year Later than 1 yoar and not later than S year8 30,255 21,572 51,827 28. Rolat•d party Iran••ctlon• No related party tran8action8 took place In the perfod of account, other than certaln Trustees, remuneration and expenses already dlsclosed In note 12. Posl sal• dl•closur• From the date of the sale and transfer of trade, and up to the year end. tho Charitable company has made grants. in line with charitable objects, of £300,000 {2024.' £Nil} to Durham Education Limited. There 18 an outstanding balance Indudéd within other debtors of £8,066 12024.. £Nil) owed from Durham Education Limited lo the Charttsble company al year end. Page 34