Registered number= 07302696 Charity number.. 1137481 Lichfield Cathedral School IA company limited by guarantee) GOVERNORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Llchflèld Cathedral School IA company limited by guarantee) CONTENTS Page Referanco and administrative details of the School, it5 Govemors and advlsers Governors. report 3-15 Independent audltors. rfrport on tha flnanclal statements Statèm8nt of financial activlties 16-18 Balance sheet 20 statement of cash flows 21 Notes to thè financial statements 22-37 Lirhfield Cathedral School (A ¢ompany limited by guarant8el REFERENCE AND ADMINISTRATIVE DETAILS OF THE SCHOOL, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Govèrnors Mr E Lunt BA MA AKC PGCE NPQH ARSM, Acling Chair Ms N Dawes OBE Mrs J Mason ABSM PGCE Mr R Oakley Mr C Rickarl BA PGCE Mrs N Roy FGCA The Rev'd Canon A Stead MA Ms J McFarlane Mr J Neville Mr J Morris Ms C Evans (appointed 14 September 2023) Mr D Brown BA ACMA CGMA (appointed 5 December 20231 Ms A Smith lappoinled 5 Decefllber 20231 Company registered number 07302696 Charity règlstèyèd number 1137481 Règisterèd office The Palace The Close Lichfield Staffordshire WS13 7HL Head Mrs S E Hannam BA MA PGCE Independent audltors Bates Weston Audit Ltd Statutory Auditors Chartered Accountanis The Mills Canal Street Derby DE1 2RJ Bankers Sanlander Corporatè Banking I Cornwall Street 8irmingham B3 2DX National Westminsler Bank PIC 47 Market Street Lichfield Slaffordshire WS13 6LE Page 1 Lichfield Cathedral School IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE SCHOOL. ITS GOVERNORS AND ADVISERS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 Solicitors Pickerings Solicitors (Tamworthl Lifllited Elchell House Bonehill Road Tamworth Slaffordshire B78 3HQ Insurance Brokers Hetlle Andrews & Associates Ltd Eleven Brindley Place Birmingharll B12LP Page 2 Lichfield Cathedral School A company limited by guarantee) GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Thè Governors present Ihelr annual report together with the audited financial slalemgnts of the School for the year 1 Seplember 2023 lo 31 August 2024. The annual report 58rv8s the purposes of both a Governors, report and a directors. report under company law. The Governors confirm that the annual report and financial staterllenls of the charitable company comply with the current statutory requirements. thè requirements of the char41able companys governing document and the provisions of the Statement of R8commended Practice ISORPI applicable lo charities preparing their accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland IFRS1021. The Choristers of Lichlield Cathedral have been provided wth an educalion for many hundreds of years. "rhe school was re-founded in 1942 as an Independent School. A Charity was established In 1981, registered wilh the Charity Commission under charity number 1078650, however that charity ceased to operate on 5th November 2010 and all the assels and liabilities were transferred into this Charitable Company on that date. The Govemors and executive officers of the Charitable Company are listed on page 1 together with particulars ol the professional advisers. Objective5 and activities Poli¢ies and objectives Charltable Objects The Charity's Objects, as set out in its Articles of Association, are.. To advance educalioTr in 5u¢h ways as the Governors see fil. including in particular by the provision and conduct ol a school for boys and girls which shall have a rèliqious charaot8r In accordance with the tenets ol the Ghurch of England and which shall in pariicuSar (but without limilalionl provide education for the Choristers ol the Cathedral. To advance religion through worship according to the riles and ceremonies ol the Ghurch of England as offered from time lo time in the Cathedral and elsewhere and the participation Ih8r8in ol the Chorisl8rs. othèr pupils at the School, families ol the pupils, staff and other persons connected with the School. To further religious, educational and other charilable woik in aGCQTdance with Ihe principles of the Church of England in the diocese of Lichfield and the wider community. In lneeli￿5 these Objects, the School aims lo create and mainiain an educational environfft9nl which nurtUTes, nourishes and slimuleles young minds and talents., one where the children may gain a thorough academic foundation and a wfyallh of experiences and challenges,. and one where daily life is conducted a¢cording to Chrislian values. Furthermore, Ihe School aims to provide a secure and ordered framework through which the children may develop their sell-9Steem and confidence, discover the riches of successful participation and achievement, and develop a spirit of g@nerosity and service to others within the wider community. Main Objectives Our objectives are sel lo reflect our educational aims and the ethos of the Schod. 11 is irllportanl lo us Ihal we enhance the academic success of the School and continue to provide a wide rangB of co-curricvlar activities and enriGh￿&￿t opportunities for our pupils. In the furtherance of these aims and planning our activities, the Governors have given careful considerats'on to the Charily Commi551011'5 public benefit guidan￿. Main objects'ves for the year included.. To inGrease pupil recruitment across all year groups, with a specific focus on Pre-school and Sixth Form. To improve pupil retention, particularly betweeii Key Stage 2 aiid 3 and Key Stage 4 aiid 5. To raise achievement and value-added scores across all subjects. Page 3 Lichfield Cathedral School IA ¢orrtpany limitod by guarantèè) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 To continue to improve the School's provision for sport, PE and garlles. To expand the physical space and resources available for learning wth pArticular focLJS tsn Sixth Fomi provision. To further extend the co-curricular programme. To support all asp8cls of chorister life for all boy and girf choristers ol lh8 Schoc>l. To further devèlop the programm8 of pèrformance managemènt and appraisal for all teaching and support staff. To ex18nd the School's links with other eduGalional, charitab18 alld commercial organisations. To expand the School's musical and other outreach work with primary and secondary schools across the diocese. To provide continuing sUPPOrt for pupils already in receipt of f8e assistanc8 through bursaries. To increase Ihe provision of mèans-tested bursary support. To continue participation in the cultural and soaal life of Lichfield. In setting objectives and planning for activities, the Govemors have given due consideration to general guidance published by Ihe Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity IPB21' b. StratÈgies for achieving objectives The Governors resolved lo scrutinise and support the work of the Senior Management and Leadership Groups in shaping the new curriculum, app(iinting staff, implementing the admissions policy, resourcing and facilitating academic departments, increasing extra-curricular provision and develc>ping links wilh the wider educational community within clear budgetary guidelines. It was reaffirmed that the appointment of high qualily staff in all areas of the School's activities was the key to success. Grant-making policies The policy of reducing thè financial resources provided for awards basèd on meflt Ischolarshipsl and allowing more funds to be provided for the assisl¥n¢e ol Ihose in financial need Ibursariesl was sustained during the year. With no endowtnents or 18slrÈcl8d fund5, the School pays all such awaTds Irom incomè, necessaTiIy requiring in this challenging economic environmeiit that such awards are relatively small, but allowance has been rnade for the award ol a 100°/o bLJrsary should the appropriate circumstances present themselves. Achievements and perlomiance Pupil Numbers and Fees Robust recruitment inlo Year 7 demonstrated that the effect5 01 Ihe pandernic were not long-lasling in the senior school, but recruitment into earfy years sb"Il showed signs of parents delayng entry to pre-school classe5. In September 2023, the academic year began with 536 pupils enrollèd. compar8d to 540 on roll at the end of 2022- 2023. By the end ol the 2023-2024 academic year this number had inC￿8$ed to 543. The annual fees for the year before the deduction of any means-tesled bursaries and scholarships were.. Nursery and Pre-Receplion full day R8peption Years 1 and 2 Years 3 and 4 Years 5 a￿d 6 Years 7 10 9 Years 10t0 13 £9,945 £9,945 £10,584 £12,177 £14,313 14,631 15,5811 Page 4 Lichfield Cathedral School IA company 1Smlted by guarantael GOVERNORS, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 ove￿ieW The most inflvttnlial Issuo faclng Independent schools during the 2023-2024 academic year was thè possible nlioduclion of VAT on school fees. As part of their election campaign. Labour stated ils intention of introducing VAT on fees as a way to ralse funds to support stale education. Thg party initially intended lo end the charitable status of independent schools as well, but soon U-turned as it would have resulted a two-lier system within the Charity sector. As the overwhelming majority of schools would need lo pass the VAT costs onlo parents, th8re was widespread discussion that smaller. specialised. faith and SEND schools would bo forced to close, in addition to an expected drop in pupil numbers in schools that retnained open. Analysts eslirnaled 100,000 childreri would move frorn the privale to Ihe slate sector. Independent sector prolessionol bodies. such as the ISC, Society of Heads, elc., and the NASUWT and ASCL fought againsl this ptslicy, bLJt Labour won the General Election on 4th July and soon reiterated its intention to impose VAT on school fees from 1 st January 2025. AI LCS. we b8gan lo see the potential impacl on recruitment, when 10 pupils were almost immediately withdrawn from plannéd enlry to Year 7 in Sgplernber 2024. Nation-wide, teacher shortages continued to be challenging. with workload, slress levels and the pressure of Ofsted inspeclions cited as recurring issues for re¢ruitwenl. A report by Education Support showed teachers felt twice as lonely al woik compared lo the resl ol Ihe population 114)/o vs 7¢/01. Recruitment al LGS for the mosl part remained successful, although Ihere are continuing shortages in some subject area5. AI LGS. staff and pupils were significantly impacted by the sudden death of a Sixth Form teacher. Psychology and Criminology luilion was quickly covered, but the effects on staff and student morale were long-lasting. As part of a wider programme to improve staff wellbeing, regular confidenbal sessions wilh a qLJalilied Echool counsellor began in the Lent Term 2024, available to any member ol staff. Academic Performancè Recent research (l) suggests that the COVD-19 pandemi¢ will negatively iFnpacl GCSE results into the 2030s, so the School wa5 delighted with Ihe outstanding GCSE results achieved in the summer of 2024. 450/0 of all grad&s were 9-7 IA"_Al, with 25°/0 of all grades being 9-8 IA. .A"1- 92°1¢ of all grades were 9-4 IA".Cl and the 1000/. pass iale was maintained. Demonstrating the value of a broad curriculum, students gained gradè 9$ in Art. Biology. Business. Ghemistry. Drama, Design & Technolr)gy, English Language. English Literature, Fren¢h. Getsqraphy, German, History, Latin, Maths, Further Maths, Music, Physics, Religious Studiès, Dual Sciènce and Spanish. 88°k of sludenls in Mu51c Technology achieved either Distinction. or Distinction. There were some remarkable individual achievEmE*nts. Several students achieved all 9-7 grades lequivalenl to A. _Al and one Year 9 sludenl took GCSE French two years early and achieved a grade 9. Sixth Form students also achieved significanl success in A Level and BTEC examinations, with 89'/ts of all grades being A'.C and 33 /0 of all grades A'_A. 100 /¢ ol Business students achieved a Distinotion and 75'/o of Applied Law students achieved either a Distinction. or Distinction. Several studen15 achieved outstanding results with all Iheir grades either A- or A. Destinations included many Russell Group universities and presli9ious degr$& pprenticeship5, studying a wide rar)ge ol academic, creative and vocational subjects, svch as mgdiGino, music. aerospace engineering. pharmacology, nuclear engineering, philosophy and law. As a non-s&l8ctivtr school, il is particularly impressive lo achieve such excellent ptjblic examination results, demonstrating Ihè exceptional quality of lea¢hing, the determination and resilience ol studenls, and Ihe value of high standards in 8 truly creative. supportive and happy leaming environment. Post-resull analysis of the A Level results placed LCS in the top 10¥¢ ol s¢hools nationally for value-added- a remarkable achievement. (1) hltps.'l/www.nuffieldfoundalion.org/project/covid-19-and-social-mobility Co-currlcular Programme Embedded within the curri¢ulum, ¢o-cutriculaT PTogramme, enrichment projects and olher School activities le.g. Page 5 Lichfield Cathedral School (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEOI FOR THE YEAR ENDED 31 AUGUST 2024 assemblies, Charitable work and services of worshipl are creative ways to develop the whole individual, including the 'soft skills. ol communioation, presentation. public speaking, leadership, team working, coachino and mentoring of others, and interpersonal skills. The58 skills help students to quickly 8d8pI lo university life and in the workplace. Musi Music remains a specialty of the school. wilh close lo 300 individtsal music lessons taking place each wèek, along with a wide range uf performance opportunities, including weekly lunchtime recitals, large scale concerts, a GCSE and A Level performance recital, a concerto concert, and three performances of the school musical. Th8 School Orchestra and Jazz Band and 10 smaller instrumental ensembles continued lo rehearse weekly Recorchestra. 8rasshopp8rs, Pizzicato Strings, Guitar Ensemble, Stringlacular, Clarinuts, Jazzbytes, Ukulellipops. Flulata, Feel the Beal and Soul Knights. Choirs included Junior Choir, Harmonics. Sign Language Choir, School Choir, BaTb&rshop 8nd Cantorum. The Wednesday at 1 pm lunchtime concert series provided opportuntiies for soloists and ensembles to hone their performance skills in front a small audience. Several junior pupils perfomèd for children at the Bright Horizons Nursery. A Year 6 chorister took part in a production of Andrew Lloyd Webber's Love Never Dies at th@ Grand Thealre in Wolverhampton. A pupil in Year 6 gained a place in the Nalional Children's Orchestra playing violin. The instrumental music programme for Year 2 (cello or violin), Year 3 Illute or clarinet) and Year 4 (trombone or Irumpetl pupils based al Longdon offered instrumental teaching in small groups of 4-6 pupils during weekly lessons 0120 minutes, Pupils were able lo take their instruments home lo practi￿ in between lessons. Cantorum and Hamionics sang evensong In the Cathedral and St Gh2d's church. as well as compline in the Cathedral, while Barbershop sang evensong in the Chapel al the Hospital of Sl John thè Baptist Without the Barrs, a local commijnity of elderly residents. Several choristers took part In Ihe RSCM resideniial course ai Balh Abbey, expanding their skill set and fep6rtoire while making fii8nd5 Wlth other chorist8rs IroTn around lh& country. In the autumn, senior chorislers and the choral scholars participated in the RSCM Massed Choirs Festival. The busiest lime5 of year for the whole Foundation Choir are always the build-up lo Christmas and Holy Week, when in addilion to the normal patlem of weekly services, the choristers sing in concerts. carol services and other events aGross the diocese. After Holy Week, the ch0ri51ers and choral scholars look pari in a singiog tour to DubliTr where they performed service5 and conceris al several churches, and explored the city's culture and herilage. In the summer term. the ohorislers wero involved in filming an episode of the BBC'S Songs of Praise in the Cathedral, while several ¢horister$ a¢hieved Bronz& and Silver RSCM Awards. The Sixth Form soprano Choral Scholars who sang the compline service on Monday evenings were joined by CanlorLJm twice a term. The Young Singing Leaders group expanded, with the more experienced Leaders taking on leaching responsibilities. Senior choristers and the soprano choral scholars performed JS Bach's St Matthew's Passion with the Birmingham Bach Choir and soloists and choristers from Deans CIDse School in Chellenham. The Galhedral Choir released an album fealuring Benjamin Brilten's A Ceremony ol Garols, alongside Katie Salornon on harp, while the Year 11 Music Tech students had the opportunily lo record, mix and produce Ira¢ks lor an album, which was sold lo raise funds for the Motor Neurone Oisease Association. Drama and Art Drama remains extremely popular with pupils and everyone has the opportunity to take part in at lttast one performance. There were several small-scale productions by year groups prepared during curriculum lessons, such as the Year 3 production of a self-writlen play about Ihe life of Churchill, construcled aroLJnd the idea of an appearance on Oesert Island Discs, which they performed for their parents. Year 4 performed Shakespeare's A Midsummer Night's Dream for their parents, and Year 7 pupils enjoyed an amazing stage lighting workshop with Mark Ruddick. fiqhl director and stunt man whose credils include Captain America, War Horse and Vikings. Wesl End actor and vofjalist, Cameron Sharp IBeautiful, School of Rock, Jesus Christ Superstar, Rock ol Ages and Avenue QI, lèd a workshop on developing stage prgsence for pupils involved in the school show. Page 6 Lichfield Cathedral School A company limltèd by guarantoè) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 A sold-oul, whole scho(>l production of Matilda the musical took placè in October at th8 R05a Th8atr8, Rugeley, a professional 160 seat venue. 100 pupils took part in three performances on stage. in the band, backslage and in the lighting and sound gallery. Year 8 pupils created amazing illustrations inspired by Matilda in the styl8 of Quentin Blake admired by audience members in the foyer and bar area ol the Rose Theatre during the show. Of the 100 LAMDA examinations that were taken during the year by pupils in Years 2-13, every result across the whole school achieved either a Merit 129.10 of grade51 or Distinction 171 /0 of grades). Every pupil from the Longdon carnpus who look an exam achieved a Distinction. A significant Number of senior stud8nts excelled in Acting and Public Speaking Gold Medal grades. wilh 730/y aGhieving a Di51indion. This accomplishment awards students 30 UCAS points each, with two students achi8ving 60 points each. As part of a fundraising March ol the Elephants parade to raise fLJnds lor St Giles Hospice, LCS students designed and painted an elephant sculpture in the st￿e Df artist Rev J L Petit11801-18681, whose work featured in an exhibilion in Lichlield Cathedral during the summer. Year 8 pupils created some low relief tiles also inspired by Rev Pelil. which went on permanent display al The Stables in The Close. Sport Sport lor enjoywenl and filnes5 forms a central part ol the curriculum for all age groups and the co-curricular programme. Students benefit from the use of facilities wilhin the school and profession81 facilities in the local area that enable them to take part in loolball, rugby, tennis, hockey, table tennis, cricket, netball, badminton. swimming, squash, gymnastics and athletics. The Eady Years, Junitsr and Senior Sports Days were enjoyed by pupils and parents alikè. Senior PE students visiled St George's Park to experience the sophisticated facilities that support elite athletes. The Junior Sports Awards Evening saw Sophie Capewell, British Sprint Cyclist, deliver a personal and inspiration talk lo pupils. staff and parents. before she awarded full and half sporting colours. Tearn GB Rifle Shooter, Katie Gleeson. presented the Senior Sports Awards and spoke movingly about her 5POrting journey lo overcorne challenges and achieve her goal5, LCS placed third In the U15 ISA Rugby IOS competition and Iirsl in the Y9-10 ISA Midlands Hockey Tournan)enl. The Year 8 boys, rugby team came second in Ihe Dislri¢t Rugby 7s Tournament, while the Year g boys were crowned Chafflpions in their calegory. The School enjoyed considerable success in athletics, wilh several pupils placing 1st, 2nd and 3rd in events in the Cannock and District Alhlelics competilion, leading to selection for Ihe Slaffordshire County Schools Athletics team. In the ISA Midlands Alhlelics Championships, 5 pupils achieved gold rnedals, alongside 4 silvers and 4 bronzes, leading to 7 pupils being selected to represent the Midlands in the ISA National Athletics Finals, where one student was awarded silver in the javelin and others set personal bests. 51 pupils from Years 5 to 11 who look port in the SSPA Gotta Dance Show 2024. with 4 dance perfomiances and 4 solo singers all hugely appreciat8d by a delightèd audienc¢. Several pupils progrèssèd in their martial arts development, including Tae Kwan Do, karate and Itjdo. There were some outstanding individual achievements, nolably.. A Year 7 pole vaulter devfyloped her personal best significantly during the year. moving lo 2.60m. making her eligible foT the England Athletics National Indoor Championships in the U15 age category, where she placed 6th. Later in the year she won Ihe Mason Trophy in atrocious weather conditions. A Year 9 pupil look part in the Vvorfd Dance Cup In Spain, receiving a Bronze medal. A Year 7 oiipil achieved first plac.es in modern solo. ballel solo, modèrn diiel, acro dijèt, lyrical trio, contemporary troupe, ballet troupe and jazz troupe categories in a national dance festival. Another Year 7 d8ncer r8presented Team England 81 the Clobal Dance Open in the Nelherfands. Two Year 7 pupils We￿ selected to represent Staffordshire in U13 Hockey. Two pupils, one from Year 5 and another in Year 9. qualified lo represenl the Midlands at the national ISA Swimming Finals at the Qtjeen Elizabeth olympic Park. where the Ye8r g pupil placed 1 st in the medley Pago 7 Llchfleld Cathedral School IA company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 relay and second in the Individual butlerfy. A Year 8 pupil represenled LCS at the British Schools Judo Charllpionship. achieving Bronze in his age group. A Year 5 pupil represented Warwickshire in U11 Squash. A Year 7 pupil won all of his malches, contributing to his team winning the Vvalmley Golf Club annua1 sixes event. A Year 9 pupil represgnled the West Midlands in the U14 Regic>nal Water Polo team. A Year 7 pupil qualified for the England and Wales showjumping championships and the British Showjumping National Championships, representing Warwiekshire. A Year 9 pupil won the British Riding Clubs, Intermediate Winter Championships with her team-mat8S at Solihull Riding Club. A Year 11 pupil was selected lo represent Stsffordshire at th8 English Schools National Cross-counlry Championships. A reception pupil completed a 2km Park Run every Sunday al Beacon Park and was ranked as 'regional level talent.. A Year 12 student placèd Ihird al Silverslone in a Formula 4 event lor the UK G8$ championship, becoming the first privateer racing driver ever lo achieve a podium position in the charnpionship, made even more remarkable considering it was only the second weekend h8 had been in a single seater ¢ar. Dug lo this achievem@nt. h8 was offe18d a position in the Official British F3 Championship in Belgium. Caroers èducatlon Carears continued Ihrough P6rsonal, Social and Heallh Education lessons and a series of in-school and external eveiits, such as guest speakers talking about routes into law, medicine and creative ar(s,' the Natioi)al Apprcnticeship Show and tho National What University? What CareeTr Show at the NEC. Year 10 enjoyed an interesling and infomiative talk from an HR expert. The school continues lo uso Xello. an onlino Cafeer education and planning tool for pupils Ihat can be accessed al any lime In Maioh. LCS host8d a careers fail at the Lichfidd Guildhall for Year 9-12 5tuden15 from loc81 schools, featuring 18 local employers and 4 universities. enrl¢hment a¢tivltle$ and personal devèlopm8nt A group of students represent LCS on the Global School Alliance Student Council which seeks to combine online collaboration and immersive experiences lo develop translormalional international partnerships. This year the group discussed the theme of Peace, Justice and Stror)g Organisations (sustainable development goal 161. with LCS focusing on migration, as people migrate to other oounlries to seek peace. lo find justice and lo become of part of strong instilulions. Equally, countries which are al peace and which have strong Inslilulions can provide justice for those seeking sanctuary. Several pupils joined the Chaplaincy Team to support servic85 in the Chapel and the Cathedral, along with taking responsibility for maintaining and improving the facilities in the Chapel. On St Chad's Day, pupils from Yeais 5-7 complet8d a procession from St Chad's Shrine in thè Cathedral to the well al St Chad's Chijrch. Educational trips and visits followed their vsual pattern during the academic year, with trips including residsnlial trips lor Year 6 (outward bound centrel,. Year 9 to Dearne Valley featuring mulliple outdoor leam-building aclivilies,. Year 3 to 11am in Derbyshire., and Year 7 to York to focus on leam-building as so many new pupi15 had joined at the start of the year. Senior biologists completed a Ihree-day residential course at FSC Margam in Soulh Wales, researching succession across sand dunes. the effecl ￿f wav8 exposuyè on limpel siie on a rocky shore. the effect of abiotic factors on the distribution of lop shell snails and the effe¢t of water velocity on biodiversity in a local stream. Year 1 pupils scaled the batllemenls of Tamworlh Castle, and were joined by Year 2 pupils to meet exotio animals such as a hissing cockroach, geckos, lesser tenrecs, pythons, owls and a skunk. cementing learning Ihey had undertaken in Science and English lessons. Year 2 visiled Blisls Hill lo transfom into Victorians lor the day, while Year 3 became Romans for a day and later visited Slaffordshire Regiment Page 8 Lichfleld Cathedral School IA company limited by guarantee) GvVERNORi' REPORI jCONTINUEOj FOR THE YEAR ENDED 31 AUGUST 2024 Museum to lèam aboul Anderson shelters, alr raids and rationing, while Year 4 pupils enjoyed an Anglo-saxon day and became Ancienl Egyptians. Y8ar 4 also visited the National Justice Museum, developing their understanding ol history topic 'crime through the ages.. A Level biology and psychology students @njoyed a fascinats.ng day-long practical seminar Dn the brain led by Profession Guy Sullon. A wde rang8 of educational activities look place a¥ound specific days, such 8$ the European Day of Languagos. World Book Day, Holocaust Memorial Day, Burns, Nighl, Chinese New Y8ar, Pi Day, Black History Month and Diversity Awareness Week. Tamworth-based poet Daniel Thompson hosted creative workshops foi R&ception to Year 6 children, while Staffordshire Poet Laureate, Dawn Jutton, worked wilh pupils in Years 7 to celebrate National Poelry Day. Leadership achievements induded several pupils b6coming Library Champions,. a Year 3 pupil achieving the Chief Scout Bronze Award for Beavers and a Yeai 6 pupil a¢hieving the Cubs Scout Silver Award (the highest awards in both groups),. a Year 9 pupil reached the 200 houis volunteering milestone and completed the ofliciating Goufse lor England Netball. A group of Year 7 pupils ale buddies lo Year 6 pupils, helping them prepare lor the transition to secondary education. Year 8 pupils developed their menlonng skills working with Year 2 pupils to improve Maths skills. A Year 1 pupil continued Io PLJblish Ghildren's books and lead evenls in local schools and libraries oncouraging children lo engage wilh literacy. He won an Inspire Award from the British Yuuth International College, an educational organisation that supports ehildrfyn's learning. Brillsh Science Week was celebrated al the Longdon site with a focus on the work of different scientisls and thÉi discoveries. with hands-on workshops on gravitational forces (Sir Isaac Newlonl. space (Mae Jemisonl, materials (Ole Kirk Christiansenl, liquid densities (Archimedesl, fossils (Mary Anningl, and genetic mulation (Charles Darwinl A STEM Challenge saw Year 5 pupils workiiig with Year 3 to compl8le a senes ol activities based on improving ptoblem-solving. engineering and computer coding skills, while Y&ar 10 linguists participatod in Ihe online National Langua9e Compelilion organised by GCHa, which included some Challenging code breaking. Year 8 pupils took part when LCS hosted the Faraday STEM Challenge, comp8ting against teams from local schools on a real-lile Challenge set by Nalional Highways. Year 4 visited the Thinktank Museum In Birmingham for a materials workshop and thè'Earth and Beyond. show in the planetarium. Students undertaking the Bronze, Silver and Gold Duke of Edinburgh Award completed their expeditions. Forest School lessons ensured pupils continued to develop useful outdoor skills, whilsl building self-confidence, resilienee and an appreciation of the natural environment. Forest School pupi15 from Years 5 10 9 contributed to the Chur¢hes Count on Nature initiative lo count the native flora and fauna found in ¢hur¢hyards across the nation, with the results accessible lo Ihose interesled across the world. The Debaling Club continued to prosper. supported by excellent guest speakers. and topped their group in the English-speaking Union Schools, Macg. an annual debating tournament lor secondary schools in England. Ireland. Scotland and Wales. The LCS Journal, a regular publiGalion of poetry. short stories, essays and articles by students and staff, encouraged readers to see the world from a different perspective. Comp8tition successes Year 10 Drama sludents gave a stunning performance of Vivienne Franzmann's The IT al the Independent Schools Association Dram8 competition, with the soundtrack also Greated by a Year 10 sludenl. For the second year running, they were awarded 'Besl Senior School Production. as well as an honourable mention for one sludenl in the 'Senior Individual Performer. categoi"y. A Year 13 studenl Won the Song Composition Prize al the Slafforylshire Young Composer of the Year competition and was 'Highly Commended, lor an essay subrnitted as part ol the Cambridge Universily Homerton P.r)Ilpgp. F￿gaY Programme. A groLlP of PLipils won Ihe Special Commendation Award in the Stephen Spender Trusl poetry translalion competition for Iheir translation from Ukrainian to 61itish Sign Language. Page 9 Llchfièld Cathedral School IA company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 A team ol Ihree LCS debaters (Year 10 and 111 won the Lichlield Rotsry Schools Speaking Competition at the Guildhall, competing against Sixth Formers from other schools. A Year 7 pupil was part of the winning crew awarded the Junior Commodore's Cup at the Manor Park Sailing Club. Junior pupils, success in online Times Table Rock Stars competitions continued, with LCS placed 3rd in the ctsuntry in the all-through schools category, putting it in the top 1 ¢/0 ol the 4,359 schools that took part Two leams ol LCS Geographers compeled in the West Midlands Geographical Association Worfdwise Quiz al Staffordshire University, achieving an agonizingly-close second place, jusl 5 points behind Haberdashers Adams Grammar Newport. Svpporting mental health A considerabl8 amount of lime by the Wellb8ing Co-ordinator and oth8r pastoral staff was spent supporting the mental health of pupils. ranging from individual sessions lo PSHE lessons and topic-based work. Parents were provided with regular and detailed advice on how to protect their children online and support their general mental health. Details of bursary and scholarship awards Bursaries This year the value ol rneans-lested bursaries lotalled £197,736 and represented 3.6Vo of our gross fees and provided 855lStance to 38 of our pupils. The s¢hool has supporied 4 pupils and students from Ukraine on large bursaries lup lo 100°/ol lo ensure their èducatic>n can bè continuèd, and to providè Ihèm with support for langua96 learning. Scholarships ln addition, the School awarded scholarships lo 150 pupiSs, based on their educational merit and polenlial, lolalling £276,472 and representing 5.03°/o of our gross fees. Of this number. 13 qualified for means-tested bursary support and are included in the figures relating lo bursary awards. The progress of pupils receiving scholarships Is reviewed al least annually lo ensure their progress is in line with their abilities. No s¢hol2rships were withdrawn in the year as a result of reviews. Sèrvic• to tho Community Fundraising A large amount ol fundraising was undertaken throughout the year on behalf of several regularly-supported charities including the Royal British Legion, 8BC's Children in Need, Children's Air Ambulance, Comic Relief. staffordshire Search and Rescue, MIND, St Giles Hospice, the NSPCC and Guide Dogs. In addition. the school colle¢led food lor the Lichfield and Rugeley FooTrdbanks, as well as food and Chrislrllas gifts lor Helping Each Olh8r Liohfield and Surrounding Areas. and raised funds for Education For All lo a5SlSt the people of the High Atlas region of Morocco affected by a severe e8rthqu8ke The Longdon pupils Gontinued their close links with the We Love Lichfield charitable organisation. by raising funds thrtsugh carol singing. Several events themed around National Poetry Day and World Boc>k Day enabled the School to provide Ihree primary 5ehotsls in Walsall with books for their libraries. Music outreach Musio oulrea¢h activities enable the School to share ils experiise with local schools and encourage Ghildren from 8cros5 the ￿910￿ to engage with new form5 of making music. The School's award-winning Musicshare Page 10 Llchfi8ld Cathedral School IA company limited by guarantèè) GOVERNORS, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 programme, which 15 SUPPOrted by Entrusl Islaffordshire's Music S8rvicel, the Music Partnership and the Arts Counoil, has ¢onlinued to grow and reach rnore children across the Midlands. When it started. Musicshare worked with 3 schools per term. now it works wlh 150 schools per year in core projects and one-off workshops and has positively impaeled the lives 0125,000+ children. Musicshare offers a weekly par6nt and toddler music group Mini Voices for the under 5s thesa valuabl8 sessions enable children to build confidence soGi81 skills. as well as developing the eady phonics building blocks for literacy and numeracy. There are four weekly community choirs - Young Voices lages 6-111, Youth Voices (ages 12-181, Ladies Who Lark lage 18+1 and Ukrainian Voices who work towards r@gular performances in Lichfield and beyond. Mijsicshare also provides a range ol CPD Iraining videos for non- specialist teachers. and delivered a considerable number of live onlinè training sessions. along with access to a wealth of new Iroyally-fre81 songs for all key stages, complele with a full sel ol teaching videos. sheet music and lyric5. plus backing and performance tracks for schools to access free ol charge. Musicshare CBlebiat8d ils 20th anniveisary with two perfoimanc85 01 Noye's Fludde by Benjamin Brilten. LCS pupils joined choirs froTn spveral primary schools, along with LCS instmmenlalisls in the orchestra and soloists performing the main parts. Musicshare hosted six organ workshops delivered by former LCS student Jeremy Sampson. The Willows Primary School and St Peter and Paul Primary took part in a moining workshop, while the afternoon, saw the culmination of Musicshare's work with 4 special educational needs and d15abililies schools. These schools rehearsed in the afternoon 170 students joined by the Ladies who Lark), attendgd ov8nsong and then gave a concert in the CalhedTal in the evening. The school ha5 established a relationship with the local dementia charity, with Yéar 5 and 6 pupils supporting the demenlia-lriendly services in Lichfield Gathedral. Year 2 visited Bowbrook Care Home to sing Christmas carols lor Ihe residents. Access to facilities and exportis The school offered two parent and toddler groups to Ihe community.. Toddler Rhyme Time on Tuesdays each week (Sufing leim time and Forest Tots, a weekly outdoor session for under 5$ and their parents learning about th8 natural environment on Fridays. Practical activities stimulale creative thinking, probl@m-solving and skill developrnent, while fostering Gonfidence, learning to co-Dperate and how to identify and manage risk. In addilion, Saturday workshops focused on STEM and crealive subjects were offered to children under 5 years of age. A ontrday singing workshop was held in oonjunclion with Lichfield Cathedral for children aged 6-11 years, inlroducsng them lo choral singing, good vocal health and the joy ol performing in a choir. All vocal tuilion (provided by highly qualified and experienced teachers), refreshments and activities were provided free ol charge for aroL¢Nd 60 children. The School continued to open its doors free of charge lo community groups, such as The Johnson Society who hold their monthly meetings at Iho school, and Thè Guild of Sl&wards of Lichfield Cathedral lo host dinners and social events at the Schml. Volunteers The School is fortunate lo have a dedicated, experienced BDard of Governors who have given increased lime and thoughl lo Ih@ gtsvernanc8 of the School during this academic year. The Friends of the Cathedral School is run by a committee of highly enthusiastic and dedicated parents. Their principal twn aims are lo provide good quality social events throughout the year for parents and pupils to enjoy, whilst also raising funds for the School in order 10 provide Ilems thal might not olherwse be afforded. Their policy for the allocation of funds is to provide lor special items that would not nattjrally fall wilhin the school's budget. and to ensure that all children in the school, throughout the aoe range, ben&fit from the projects supported. The Friends hosted £n-person events including a Bonfire Night, film nighls, discos and an Easter treasure hunt for the childron, plus a Summer Ball lor parenls. In addilion. Ihe Friends conlinue to provide Ihe school's sefjond-hand unEform shop. All proceeds were spent on projeols that benefit pupils. Page 11 Lichfield Cath•dral School IA company limited by guarantee) GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The Governors and Senior Leadership Team greatly appreciate the valuable contribution of all volunteers. Sustainability All activilies of the Governing Body during thE year have been dedicated to the sustainmènt, improvement and general development of a school which provides an education lor a broader range ol boys and girls aged 2 to 18, in particular the Cathedral choristers, within the conlexl of its Christian ethos. The Governing Body expanded its number to broaden the representation of skills and experience. and will continue lo fill any idenlilied gaps. The GAIA installation in Lichfield Cathedral inspired a group of students lo tske action in a number of area5 01 Ihe school lo improve sustainability and reduce the School's carbon f(>otprinl The LCS Changemakers focused on increasing the amount of waste that is reGycled in the School, with facilities made available aGross the School. Financial revsew a. Going ¢on¢ern The Governors assess whether the use of going concern is appropriate, that Is, whether there are any matenal uncertainties related to events or conditions that may cast significant doubl on the ability of the school lo continue as a going concem. The Governors make this assessment in respeol ol 8 period of al least one year from the dale of aulhorisalion lor issue ol the financial slalgmenls and hav8 eonGlvd8d that the school has adequate resources lo continue as a going concern, thus they continue to adopt the going concem basis ol accounting In preparing Ihe financial statements. Tlie GL)veri)vrs have prepared casl)flow forecasts aiid projections. These Show that the school should be able to operate wilhin the level of its current facility. A new loan facility was agreed on 5 May 2021 which is repayable over a 15 year penod. b. Reserves policy The Govemors have eslablitshed a poli¢y whereby the unrestricled ILJnds held by the School should be enough to cover school lémi of expenditure. At this level the Goveinors feel that they would be able to continue the CLJrrenl aclivilies of the School. At 31 August 2024 the unrestricted free reserves of the School were in deficit by £317,670. The charity r@stricted funds are represented by fixed assets and current assets. The purposes of these funds are detailed in nole 13 to the acctsunls. c. Risk management objectives and pollcles The Governors are responsible lor the management of TlSks faced by the School. Detailed Considerations of finanaal risk are undertaken by the Finance and General Purposes Committee, and that of children's welfare and workplace risk by the School's Health and Safety Commitlee which in tum reports lo the Finance and General Purposes Commilleg. Risks are identified and assessed, and controls established, Ihroughout the year. In all 5pBcialised areas. relevant qualified and experienced experts are employed lo give advice. A formal financial audit by an extem31 body is ca¥ried out each year and their report is considered by the Governors. The Charitable Company adopts a system of formal agendas and minutes for all committee and full meetings. as well as comprehensive strategic planning, budgeling and managemenl accounting, clear organisalional 5lructure and lines ol reporting, formal written policies, clear aulhorisalion and approval systems, and velling procedures as required by law for the protection of the vulnerable Through the risk management processes established for the Sch¢)ol, the Governors are satisfied that the major risks identified have been adequately mitigated. Page 12 Lichfield Cathedral School IA Company limitèd by guarant•Èl GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 d. F5nanclal revS•w The accounting year of the Charitable Company has resulted in a surplus of ftjnds for the yeai of £374.409. The principal financial management policies adopted include.. the production of reoular termly management accounts which are scrutinis8d by the Finance and Genoral Purposes Comrnillee., the preparation of detailed anntjal budgets which include comparison lo actual performance., a detailed audil carried out by a firm of Chartered Ac¢ountanls who report Iht3ir findings direct to the Governors al 3 formal Governors meeting., regular meetings between the Chair of the Finance and General Purposes Committee and the Directoi of Finance., the authorisalion ol all expenditure by either the Head Teacher or the Director of Finance., and regular weekly m@etings belw8en th8 Head Teacher and the Director of Finance. Structure. governancè And manogement a. Constitution Lichfield Cathedral School is registered as a charitable company limited by guarantee and w85 sel up by Memorandum of Assc>ciation on 2 July 2010. b. Methods of appointment or election of Governors The management of the Schtsol is the responslbility of the Governors who are elected and co.optod undcr the terms of the Memorandum of Association. c. Organisational structure and dècisron-making ptslicies The day lo day running of the School is delegated to the Head Teacher and Senior Managemènt Tèam. Th8 Head Teacher allends all meetings of Governors. The board of Govemors meet al least once each term. 11 has two working committees.. Finance and General PLJrposes and Educab"on_ Each committee meets formally every term in advance of the lull goveming body meebng, and holds further meelings as necessary. d. Policies adopted for the inductlon and tralnlng of Governors The board of Governors consists of up to fifteen individuals, up to five are appointed by the Chapter of Lichfield Cathedral and ol such live, al least Iwo shall be members of Chapler". up to ten are appointed by the Governors. Al the end ol the last meeting of each academic year, the Govémors appoint an@ ol th8ir number lo act as Chairman lo chaii the meetings until the last meeting ol the following academic year. The Govemors may revoke at any lime any such appointment. All new Gov8rnors ar8 Inducted into the workings of the Gharilable Company by the Head Teacher and thè Clerk to Govenors. All Governors a￿ w&lcome to visit the School and training is available through AG8IS and other organisatioi)s, as required. e. Governors. indemnitigs The School has taken out Professional IndemnitylGovernDrs Liability insurance as part of the public liability policy. The insurance provides cover up to £2,000,00012023- £2,000,000). Page 13 Lichfield Cathedral School {A company limited by guarantee) OVERNORS. REPORT ICONTINJI EDI FOR THE YEAR ENDED 31 AUGUST 2024 Plans for future periods In addition lo continuing to meet the primary objectives ol the School as itemised above, the key objectives for the next five years are to: 1. the quality of systems of governance and str8nglhen the accounlabilily of managèmènt,, achicvc the highest standards of learning throughout the School, parti￿lIartY in preparation tor public examinations., ensuie that the curriculurn from Pre-school to Y88r 13 is balanted and effeclive., continue the development of the Sixth Form by increasing th8 pupil numbers; continue to develop a realistic longer term business slralegy, which includes the improvement of the facilities at the School., 6. fosler the T&lationship of the boy and girf choristers to Ihe Cathedral Foundab'on.. continue to devtrlop inspiiational opportunilies both within ancf beyond the curri¢ulum including partnerships with the wider educational and Christian community. Members. liability The Mornb8rs of the School guarantee to contribute an amount not exceeding £10 lo the assets of thè School In the èvent of winding up. Stal•mont of Govèrnor$' re$ponsibilities The Governors (who are also the directors of the School for the purposes of company lawl are responsible for preparing the Govemors, report including the strategic. report and the financial slalemÈnts in accord&&nce with applicable law and United Kingdom Ac¢ounlin9 Standards (United Kingdom Generally Accépted A￿Ounts.ng Praclicel. Company 18w r&quire$ the Govemors to prepare financial statements for each financial year. Under company law, the Governors musl not approve the financtal statements unless they are satisfied Ihal they give a true and fair view ol the state of affair5 Of the School and of its incoming rcsourws and application of resources, including ils income and expenditure, for that period, In preparing Ihese financial stat8menls. the Govemors are required to.. S@lect 5UltablE a¢oounting policies and then apply Ihem consistently., observe the methods and principles of the Charities SORP IFRS 1021", make judgements and accounting estimates that are reasonable and prudent", state whether appli¢able UK Accounting Standards IFRS 1021 have been lollow&d, subject lo any matérial departures disclosed and explained in the financial slatements., prepare the financial slalements on the going Goncern basis unless it Is inappmpriata to presume that the School will continue in business. The Govemors are ¥esponsible for keeping adequale accoijnting records that are sufficient lo show and explain the S¢hool's Iransaetions and disclose with reasonable accuracy at any time the financial posilitsn of the School and enable th8ni lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the School and hence lor taking ieasonable steps for the prevenb'on and delection of fraud and other Irregularities. Page 14 Llchfièld Cathedral Sehool IA company limited by guarantee) G-I'E.RNORS' REPOR- ICONTINb'EDj FOR YEAR ENDED 31 AUGUST 2024 Disclosure of infomiation to audltor Each of the persons who are Governors al the lime when this Governors. report is approved has ￿nfirMed that.. so far as that Govemor is awar8, there is no relevant audil information of whiLh the charitls auditor is unaware, and that Govemoi has taken all the steps Ihat oughl to have been taken as a Governor in order to be aware of any relevant audit information and to establish that the charIt￿S auditor Is aware of Ihal information. Approved by order of the members of the board of Governors and signed on their behalf by.. Mr E Lunt BA MAAKC PCGE NPQH ARSM Datè,. 2810312025 Page 15 Llchfield Cathedral School IA ¢ompany limittrd by guarant891 INDEPENDENT MUDITORS. REPORT TO THE MEMBERS OF &iCHFSELD CATHEDRAL SCHOOL Opinion We have audited th8 financial statements of Lichfield Cathedral School Ilhe 'school'l for the year ended 31 August 2024 which comprise the Slatemenl ol financial activities, the Balance sheet, the Slatgrnent of cash flows and the related notes. including a summary of significant accounting policies. The financial reportin9 framework that has been applied in their preparation is applicable law and United Kingdom Accounling Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicab18 in the UK nd RepubliL of Irelaiid. (United Kingdom Generally A¢cepled Accounting Practice). In our opinion the financial statements.. give a trije and fair view of the stale of the charitable Gompanls affairs as al 31 August 2024 and of ils incoming resources and appli¢ation of resouTces. including its income and expenditure lor the year then ended", have been propedy p￿pared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have beèn prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnion We conducted our audit in accordgnce with International Sl8ndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those sland8rds are Itjrther desfjiibed in the Auditors, responsibilities for the audit ol the finanoial slalements section c>f our report. We ar8 independ@nt of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statemenls in the United Kingdom, including thè Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in ac¢ordan¢e with these requiremenls. 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 slalemenls, we hgve concluded that the Governors. use of the gDino concern basis of aGcounting in the preparation of the financial state ments is appropriate. Based on the work wo havo performcd, we have not identified any material uncertainties relating lo events or conditions Ihat, individually or colleclively, may cast signilicanl doubt on the charitable companls ability to continue as a going concern lor a period of at least twelve months from when the Iinancial statements are authorised for issue. Our responsibilities and the responsibilities ol Ihts Govemors with respect to going concem are described in the T&I8V8nl sections of this report. Othèr Infomiatlon The other information comprises the information included in the Annual report other than the financial ststements and our Auditors. report thereon. The Governors are responsible for the other information contained within the Annual report. Our opinion on the financial slalements does not cover the other inforrnation and, exGept lo the exlenl otherwise explicitly staled in our repori, we do not express any forrn of assuianGe conclusion thereon. Our responsibility is lo read the other Information and, in doing so, consider whether the other informalion is materially inconsistent with the financial statements or our kno￿er$ge obtained in the course ol the audit, or olherwis8 appears to be materially misstated. 11 we id&ntily Such material inconsistencies or apparent material misslalemenls, we afe required to determine whether this gives rise to a material misstalemenl in the financial statements themselv85. If, based on the work we have performed, we conclude that there is a material misslalement of this other information, we are required to report that fact. We have nothing lo report in this regard. Page 16 Lichfield Cathedral School IA ¢ompany lirnited by guarantee) INDI.PINDINT AUDITORS. REPORT TO THE IMEMBERS OF LICHFIELD CATHEDRAL SCHOOL ICONTINUEOI Opinlon on othèr matters prescrib8d by the Companies Act 2006 In our opinion, based on the worf( undertaken in the course ol the audil.. thtr information given in the Gov8mor5' report including the Strategic report for the financial year for which the financial stalemtrnts are preparèd is consislenl wilh the financial statements. the Governors. report and iho Strategic report have been prepared in accordan￿ with applicabl¢ logal requ1￿men1S. Matters on whlch we are requlred to report by èxcéption In the light of our knowledge and understanding ol the charitable company and its environment obtained in the course of the audit, we have not identified material misstalemenls in Ihe Governors, report including the Strategic report. We have nothing to report in iesped ol the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion. adequate accounting records have not been kept, or relurns adequate for our audit have not been received from branches not visited by us.. or the financial statements are not in agreement with the accounting records and returns., or certain dlsclosures of Govemors, rerlluneralion specified by law are nol made,. or we havè not recèived all th8 inlofmation and 8xplanalions we require lor our audit. Responslbllltles of trustee$ As explained more fully in the Governors. responsibilities stalemenl. the Governors (who are also the directors ol Ihe charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied 11)al they give a true and lair view, and for such iT)lemal CO￿trOl as the Goveynors detetmine is necessary to enable the preparation of financial statements that are free from material misstatemènt, whèthèr due lo fraud or error. In preparing the financial stalements, the Governors are responsible for assessing the charitable companjls ability to continue as a gc>ing concem, disdosing, as applicable, matters relalod lo going concern and using the going concern basis of accounting unless the Governors either intend lo liquidate the Ghaiilable company or lo cease operations, or have no ¥ealistic alternative but to do so. Auditors, responsibilities for the audit of the financial statements Our objeciives are to oblain reasonable assurance aboul whether the financial statements as a whole are flee from malerial misstalement. whether due lo fraud or error, and to Issue an Auditors. report that includes our opinion. Reasonable assurance is a high l&v81 of 35SUTance, but is not a guarantee that an audit condijcted in accordance with ISAS IUKI wll always detect a material misstatement when il exists. MisSt8tements can arise from fraud or error and are considered material il, individually or in the aggregate, Ih8y could reasonably be expected to influence ihe economic decisions of users taken on the basis ol Ihese linan¢ial sialernenls. Irregularities, including fraud, are inslances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, to detecl material misstatements in respect ol irregularities, including fraud. The extent to which our procedures are capable ol detecting irregularities, including fraud is detailed below.. Based on our understanding of the oharily and sector in which it operates. we considered Ihose laws and ¥egulalions that have a direct impact on the preparation ol the financial statements such as the Companies Acl 2006. Audit procedures performed by the engagement team included". Enquiry of management around a¢tual and potential liligallon and claims., Page 17 Lichfield Cathedral Sehotsl A company limited by guarante61 IN"OEPENOENT AUOITORS". REPORT TO I HE MENi6ERS OF LICHFIELD CAI HEDRAL bCTrlOOL ONTINUEDI Reviewing finanual statement disclosures and ltssling to supporting documentab.on lo assess compliance with applicable laws and regulations., Perfom)ing audit work over the risk of management override of controls, including testing of journal entries and other adjuslmenls for appropriateness. evalijaling the business rationale of Significant transactions outsid$ the nortnal covrso ol busin855 and reviewing accounling estimates for bias. Because of the inherent limitatlons ol an audit. there is a risk that we will not detect all irregularities, in¢luding Ih05e leading to a material misstatement in the financial stalemenls or non-compliance with regulation. This risk in¢reases the more Ihat Complian￿ with a law or iegulation is removed from the events and transactions reflected in the financial statements, as we wll be less likely to become aware ol instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves inlentional conc8almenl, forgery, collusion, omission or misrepresentation. A fvrther description of our responsibilrties for the audit of thè financial statements is located on the Financial Repo¥ting Council's webslte al". www.frc.o .uklauditor5res onsibilities. This des¢riplion foms part of our Atjditors, réport. Use of our report This report is made solely to the charitable companls 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 slate lo the charitable company's mowbers those matters we are required to slate to them in an Auditors, Teport and for no other purpose. To the fullest extent permitte(J by law, we do not a¢eept or assume rèsponsibility to anyone other than the charitable company and its members, as a body, for our audit work, lor this report, or for the opinions we have formed. Wayne Thomas FCA (Senior Statutory Auditor) for and on b8hall ol Bates Weston Au(Ilt Ltd Slatiilory Aiidilors Chartered Accountants The Mills Canal Street Derby DE12RJ Date.. 21 May 2025 Paoe 18 Llehfield Cathedral School IA company limlted by guarante•l STATEMENT OF FINANCIAL ACTIVITIES 11N￿oRPvR￿I ING INCOME AND EXPENDITURE ACCOUN Il FOR THE YEAR ENDED 31 AUGUST 2024 Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Total f(Jnds 2Q23 Note Income from-. Donations and legacies Charilable activities 24,316 52.356 24,316 8.104,351 82,182 33,215 7,238, 10T 42,903 8,051,995 B2,182 Investments Total ineomè 76.672 8,134,177 8,210,849 7,374,225 Expenditure on= Charitable activities 108,216 7,728,224 7,836,440 7,204,686 Total expenditure 108.216 7.728,224 7.836.440 7,204, 586 Net18xp&ndlturallincoma Transfers between funds 131,5441 932 405,953 19321 374,409 709,539 Net movement in funds 130,6121 405,021 374,409 109,539 Reconciliation of funds.. Total funds brought forward Nel movement in fijnds 151,312 30,6121 1,915,861 405,021 2,067,173 374,409 1,957,634 109,539 Total funds carried fO￿ard 120.700 2.320.882 2,441,582 2,067, 173 The Statèment ol financial activities includes all gains and losses recognis8d in the y8aT. The notes on pages 22 to 37 Ic)mi pari of these financial statements. Page 19 Lichflèld Cathodral School IA company limited by guarant8el REGISTERED NUMBER: 07302696 BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Note Fixed assets Tangible assets 2,638,552 2,375,304 2,638.552 2,J75,304 Current assets Debtors 10 2,204,299 2.976.757 2, 702, 784 1,976,974 Gash al bank and in hand 5,181,056 4,081, 758 Creditors.. amounts falling due within one year 13,987,156) (3,341,28lJ Net ¢urrent 8S5ets 1,193,900 740,477 Total assets less currant Ilabllltles 3,832.452 3,055.787 Creditors.. amounts falling due afler more than olle year 12 11,390.8701 {988,608) Total nef a55els 2,441,582 2,067, 173 Charity funds Restricted funds 120.700 2,320.882 157.372 1.915.867 Unrestricted funds Total funds 2,441,582 2,067,773 The Governors acknowledge their responsibiliti8s for complying with the requirements of the Act with respect to accounting records and preparation of linan¢ial stalemenls. The financial slalemenls were approved and authorised for issue by the Govemors and signed on their behall by: Mr E Lunt BA MA AKC PCGE NPQH ARSM Dale-. 2810312025 The notes on pages 22 lo 37 form part of these financial statenients. Page 20 Lichfiald Cathedral School IA company limited by guaranteel STATEMENT OF ￿A)kI rLvkVS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Note Cash flows from operating activities Net cash used in opeyating activities 16 1.506,751 7,139 Cash flows from inve5ti119 activities Purchase of tangibSe ftxed assets Investmènt incomè 1435,3861 82,182 {87,595) 42,903 Net cash used in investing actlvltl&s 1353,2041 144,692) Cash flow5 from flnanclng activities Repayments of borrowing Bank and loan interest paid 95,3281 160,4361 (102,938) (50,884) Not cash usod in financlng actlvlilès 1155,7641 1153,8221 Changè In cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 997,783 1191,3751 2, 170,349 1,978,974 Cash and cash equivalents at the end of the year 2.976,757 1,978,974 The notes on pages 22 tD 37 foim part of these financial statements Page 21 Lichfield Cathedral School {A ¢¢mpany limlt8d by guarantee NOTES TO I HE FINANtsiAL STATEfvIEliTa FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcies 1.1 Basis of preparation of flnancial statements The financial slalements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by ChaNties.' Stalement of Recommended Practice applicable lo charities preparing their accounts in aceordanoe with the Financial Reporting Standard applicable in the UK nd Republic of Ireland IFRS 1021 leffectiv& 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Lichlield Cathedral School mè@ts the definition of a publi¢ benefit enlty under FRS 102. Assets and liabililies are initially ¥ecognised at hislorical cost or transaction valuè unless oth8rwisg slated in the relevant accounting policy. 1.2 Income All income Is recognised once the School has entitlement to the income, il is probable that the income wll be re￿ived and the amount of income Teceivable can be rlleasured reliably. For donations lo be rÉcognisèd the School will hav$ bèen notified of the amounts and the settlemenl date in writing. If there are conditions attached to the donation and thi5 requires a level of performance before entillemenl can be obtained then income is deferred until those conditions are fully met or the fulfilment ol those conditions is within the control ol the School and it is p¥obable that Ihey wi51 be fulfilled. Investment income is earned through holding assets lor investment purposes such as bhares and property. It includ8s dividends. interest and rent. Where il is not practicablo to idcntify invostmont management ¢0515 incurred within a scheme with reasonable accuracy the investment income is reported net of Ih@se costs. Inveslfnenl management costs are included when the amount can be measured reliably. Interest incomè Is recogni5ed using the effective interest method and dividend and rent income is recognised as the School's ¥ight to receive payment is established. Income lax recoverable in relation to inveslment income is re¢ognised al the time the investment income is receivable. 1.3 Expenditure Exp8nditUf8 is r8cognised once there is a legal or constructive obligation to Iransfer economic benefit to a third party. it is probable that a transfer ol economic benefits will be required in selllemenl and the amounl ol the obligation can be measuTed reliably. Expenditure is ¢lassified 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 attivily. Direcl costs atlributsble lo a single activity are allooated directly lo that activity. Shared costs which contribut8 to more Éhan one activity and support costs which are ot attributable to a single activity are apportioned between those activrties on a basis conslstent with the use of resources. Expenditure on charitable adivilies is incurred on directly undertaking the activities which further the School's objectives, as well as any associated support costs. All expenditure is indusive of itreooverable VAT. Page 22 Llchfield Cathedral School IA company Ihmitgd by guaranttèl I OTES TO IAC rlNAN-;A' STAIlVIlNTS FOR THE YEAR ENDED 31 AUGUST 2024 Ac¢ountlng pollcle5 l¢ontlnuedl 1.4 Taxatlon The School is considered to pass the lesls sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il ffleets the definition of a charitable company for UK corporation lax purposes. AGcordingly. the School is potentially exempl from tsxalion in respfycl of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation c>f Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitsble purposes. 1.5 Tangible flxgd assets and depleclatlon Tangible fixed assets are initially recognised at cosl. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairrnent 10sses. All costs incurred to bring a tangible fixed asset into ils intended working condilion should be included in the measurernenl of cost. Assets in the Course of ¢onstru¢tion are Included at ¢osts incurred to dale. Depreciation on th&s8 assets is not ¢harged unts'l Ihey are brought into use. Al each reporting date the School assesses whether there is any indication of impairment. If such indication exists, the recoverable amount ol the asset is determined to be the higher of its fair value less costs to sell and ils value in use. An impairment loss is recognised where the carrying arnounl exceeds the recoverable amount. Depreciation 15 Charged so as lo a11ocale the cost of tangible fixed as5els less their residual value over thèir eslimalèd useful liv&s. Depreciation is provided Dn th8 following l)asis". Freehold property Long-term leasehold property Short-lerm leasehold property Motor vehicle5 Furniture and fittings Offi¢8 equipment 2.0°/o Straight line 2.0°/o Straight line over the lease period 20.0°/o slraighl line 12.5.10 slraighl line 20.OQ/o Straight line 1.6 Cash at bank and in hand Cash at bank and in hand incltjdes cash and short-leim highly liquid investments with a short malurity of Ihree monlhs or less from the date ol a¢quisibon or opening of Ihe deposit or similar account. Page 23 Lichfield Cathedral School IA company limlted by guarantee) NO i Ea i C I liE rllYAt¥kniAi aTAI EMEt4Ta FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcies Icontinuedl 1.7 Liablllt5es and provisions Liabilities are recognised when there is an obligation at the Balance Sheet dat8 as a result of a past event. it Is probable that a transfer of economic benefit will be ￿qUired in settlement. and the amount ol Ihe Settlement can be 8slimaled ieliably. Liabilities are recogni5gd at the amount that the School anticipates it will pay to settle thè debt or the amount il has received as advanced payments lor the goods or services il must provide. Provisions are measured at the best oslimale ol the amounts required to sellle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, disoounled at the pre-tax discount rate that reflects the risks tspecilic to the liability. The unwinding of the discount is recognised in (he Statement of financial activities 85 a finan￿ cost. 1.8 L¥ase of $¢hool premises The School enjoys the benefit of h8ving a long term lease from Lichfield Cathedral for Ihe Palace and School House. The lease was taken out 1 September 1981 for a period of 99 years of which 56 years remain. No lease premium was paid and as such this has nol been capitalised. Rental payments are charged to the Statement of FinanGial Activities in the period in which they Telale. On 28 August 2003, the School acquired a further long-lerm lease of 76 years fo)r Dimble House, Beacon Street. LIGhfield. froTll Lichlield Lathedral. I'he cost ol Ihe lease has been capilalised and is being amortised Uvfir the term of the lease. Lichlield Cathedral have agreed to an extension of the term of Ihe lease to 125 years al no 8ddilional cost. The change in lease payments resulting in revised consideration for th8 18aS8 that is less than the consideration for th8 lease immediately preceding the change., any reduction in lease payments affecting only paynnenls originally duo on or before 30 June there being no signifieant changé to other terms and conditions of the lease. 1.9 Pensions The School operates a defined contribution pension scheme for non-teaching Staff. A defined contribulion plan is a pension plan under which the School pays fixed contributions into a separate enlity. Once the contributions have been pa>d the Sohool ha5 no lurthei payment obligations. The ¢onlribulions are recognised as an expense in the Statement of Financial Activities when they fall due. Amounls not paid are shown in other creditors as a liability in the Balance Sheet. The assets of Ihè plan are held separately from the School in independenlly adMIn￿$t￿red funds. Ret1￿ment benefits to certain members r)f the teaching staff are provided by the Teachers, Pension Scheme l TPS"). This is a defined benefit scheme. Pag8 24 Lichfield Cathedral School IA company limited by guarantee) NOTEQ TQ THE FINANCIAI STATEUENTS FOR THE YEAR ENDED 31 AUGUST 2024 A¢¢ounting poll¢l¥s Icontinuedl 1.9 Pensions Icontinuedl The TPS is an unfunded scheme and contributions are calculaled so as to spread the cost of pensions over erllployees, working lives with the School in such a way that the pensio￿ cost is a substantially lovel pfyrcentage of current and future pensionable payroll. The contribut10ns are determined by the Governtmenl Actuary on the basis of quadrennial valualions using a prospeclive unil credit method. The TPS is a multi-employer scheme and there is insufficient inloymalion available to use defined benefit ae¢ounling. The TPS is therefore Irealed as a defined contribution scheme for accounting purposes and the ¢onlributions recognised in the period lo which they relate. 1.10 Fund accounting General lunds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the Schod and which have not been designated for other purposes. Designated funds ¢omprise unreslrided funds that have been sel aside by the Governors foi particular purposes. ThE aim and us8 of each designated fund is sel out In the notes to the financial statements. Restricled funds are funds which are to be used in accordance with spe¢ifi¢ restrictions imposed by donors or which have been raised by Ihe Schocil lor particular putPOS85. The costs ol raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is sèl out In the notes to the financial statements. Inv8Stment income. gains and losses are allocated lo the appropriate fund. Income from donations and l&gacles R#strict•d funds 2024 Total funds 2024 Tols1 funds 2023 Donations 24,316 24,316 33,215 Total 2023 33,215 33,215 Page 25 Lichfield Cathèdral School IA company limited by guaranteol r4GTEa TO I HE rll*AI4CiAL a i M i EhlENT FOR THE YEAR ENDED 31 AUGUST 2024 Income from charitable activities Restr5cted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Fees receivable 7.344.768 707,227 7,344,768 759,583 6,483,235 754,872 Olher educational income 52,356 52.356 8,051,995 8,104,351 7,238, 107 Total 2023 83,393 7,154,7t4 7,238, 107 2024 2023 School Foès R•eelvable Fees receivable Less. Remissions 8,459,132 11,114,364) 7,470,820 (995,921) 7.344,768 6,474.899 Analysls of expenditure on chaiitable activities Summary byfund type Restricted Unrestricted funds funds 2024 2024 Total 2024 Tol&l 2023 Teaching cosls Welfare 4,414,135 739,618 1,042,594 1.436.152 95,725 4.414.135 739.618 1,042.594 1,544,368 95,725 4,104,227 669,962 963,833 7,417.138 49,526 Premises Support costs of schcK)ling Gov8mance costs 108.216 108,216 7,728,224 7.836.440 1.204,686 Total 2023 63,452 7, 141,234 7,204,686 Pag8 26 Lichfteld CathÈdral School IA ¢¢mpany Ilmited by guarantée) OTEQ TO THE flNANnlAI STATEMENTQ FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expenditure by activitie5 Total funds 2024 Total funds 2023 Staff costs Depreciation Oth&r costs 2024 2024 2024 Teaching costs Welfare Premises 3,896,693 123.550 246,331 754,804 517,442 616,068 736,114 737,575 95.725 4.414,135 739,618 1.042.594 1,$44,368 95,725 4, 104,227 669,962 963,833 1,47 T. 138 49,526 60,149 51,989 Support costs of schooling Governance costs 5,021.378 112,138 2,702.924 7,836,440 1,204, 686 Total 2023 4,685,344 117,515 2,401,827 7,204,686 Auditors. remuneration 2024 2023 Fees payable to the School's auditor for the audit of the School's annual accounts 5.000 4, 725 Fegs payable lo the SchoDI's auditor in respect of.. All non-audil services not included above 1,200 1, 125 Staff costs 2024 2023 Wages and salaries Social security cost5 Contribution lo defined conlribution pension schemes 3,982,307 386,910 664,990 3, 781,767 362,209 608,348 5.034,207 4. 752,324 Page 27 Lichfleld Cathedral School IA company limited by guarantee) NQTEQ TO Ty.E FINAwf!.4L QTA.TEMEI!TS FOR THE YEAR ENDED 31 AUGUST 2024 Staff costs Icontinuèdl The average Trumber of persons employed by the School during the year was as follows.. 2024 2023 Head and teachers 95 95 Welfare and maintenance 32 29 19 Bursary and adminislralion 19 146 145 The number of employees whose employee benefits lexcluding 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 £90.001 £100,000 In the barid £120.001 £130,000 In the band £130,001 - £140.000 The School considers its key management personnel to comprise the Head Tea¢her, the Director of Finance, the Deputy Head, ihe Head of Ju￿10[ School, the Assistant Heads, the Director of Operations and the Director of Marf(eling and Admissions. The aggregate remuneration and benefits received by key management personnel was £704,21912023.' £709,191). Governors, remuneration expense5 During the year, no Govemors re¢eived any remun¢r8tion or oth¢r bL4nefits (2023- £NIL). During the year ended 31 August 2024, no Governor expenses have been incurred (2023- £NIL). Page 28 Lichfield Cathedral School IA company Ilmitèd by guarantèel YOTES TO T4E fiNAN'- STA-EMEN'TS FOR THE YEAR ENDED 31 AUGUST 2024 Tangible fixed assets Long-tèrm Short-temi Freehold leasehold leasehold Motor property property propèrty vahlclès Furniture and fittings Total Cost or valuation At 1 Sept8mber 2023 Additions 1,504.409 1,439,033 11,682 139,894 10,350 1,186,603 4,280.289 325,844 97,860 435.386 Al 31 AugLJSt 2C>24 1,504,409 1,450,715 465,738 10.350 1.284.463 4,715.675 Depreciation At 1 Septembèr 2023 Charge lor the yttar 309,350 25,088 528,420 28,781 120.716 10,350 6,280 996,149 1,964,985 51,989 112,138 At 31 August 2024 334,438 557,201 126,996 10,350 1.048.138 2.077,123 Nèt book valuè Al 31 August 2024 1,169,971 893,514 338,742 236,325 2,638,552 Al 31 August 2023 1, 195,059 910,673 19.178 790,454 2,315.304 10. Deblors 2024 2023 Due within one year Outstanding fees Other debtors 1,991,475 24,934 187,890 1,915,067 54,607 133, 110 Prepaymenls and accrued income 2,204,299 2, 102,784 Page 29 Ll¢hflèld Cathedral School (A company Ilmited by guarantee) NOTES I O THE rlN'AYI ￿lAL S- FOR THE YEAR ENDED 31 AUGUST 2024 11. Creditors.. Amounts falling duè within onè yèar 2024 2023 Bank loans 63.552 157,450 185,559 89,529 664,734 2,826,332 711,637 155,300 147,035 94,571 767, 743 2.665.601 Pupil deposits Trade ereditors Other taxation and social security Other creditors Accruals and deferred income 3,987,156 3,341,281 2024 2023 Deferred income al 1 September 2023 Resources deferred during the year Amounts released trom previous periods 2,511,873 2,253,777 2,502,822 2,511,873 12,511,873) (2,253, 71T) 2,502,822 2.511.873 Deferred inGome relates to the Michaelmas fees that are billed in advance. 12. Crèdltors: Amounts fallin9 dua after more than one yèar 2024 2023 Bank loans Other creditors 941,3S9 449.511 988,608 1,390,870 988. SC18 Security National Westminster Bank PLC hold a first le9al mortgage and first legal charge on the freehold property relating lo the land and premises al Longdon Green, Longdon, Staffordshire, and the leasehold interest property relating lo Dimble House, Beacon Street. Lichfield. Page 30 Lichfield Cathedral School IA company limhttd by guarantee) NOIES TO TA[=;N￿Yc1AL STATEfvI-YTS FOR THE YEAR ENOED 31 AUGUST 2024 13. Statement of funds Statement of funds - current year Balanee at 1 September 2023 Balance at 31 August 2024 Transfèrs inlout Income Expenditure Unr¢$trlcted funds Deslgnated funds Musicshare Core 39.227 142,1071 9,803 6,923 General funds General ftjnds 1,915.861 8,094,950 17,686,117) 110,7351 2,313,959 Total Unrestricted funds 1,915,861 8,134,177 17,728.2241 19321 2.320,882 Restricted funds Head's SlralegiG fund Chorister fund 2,589 896 8.081 10.$65 2.094 3,592 300 2,589 896 Hardship Bursary fund Arts Council funding Tim Henman funding Fnends of LCS 8,081 17,734 52,356 148,2131 3.026 12.0941 24,066 150 127,6581 Prizes - Organ fund John Heath Musical Endowment fund 450 90,662 188 90,662 288 Ukrainian Music fund 100 Jane Holmes reslricted fund 32,345 32.3451 151,312 76,672 1108,2161 932 120.700 Total of funds 2.067,173 8,210.849 17.836,4401 2,441.582 Page 31 Lichfield Cathedral School IA company Ilmitéd by guarantee) WOYES T FOR THE YEAR ENDED 31 AUGUST 2024 nlA vir4 Statement of funds Icontinuèdl Statement of funds- prior yoar Balance at 1 Seplember 2022 B8lanc& 31 Augusl 2023 Incom8 Expanditure Unrestricted funds General funds 1,859,478 7, 191.61T (7, 141,234) 1,915,861 Restrictèd fund$ Head's Strategic fund Chorister fvnd Hardship Bursary fund Arts Coun¢ll funding Tim Henman fundin9 Friends of LCS Pfizes Organ fund John Heath Musical Endowment fund Ukrainian Music fund Jane Holmes rèstricted fund 2.589 896 8,081 13,421 2,094 (74,025) 7LJO 85, OQC) 2.589 896 8,081 10,565 3,094 3,592 300 25,239 (28,095) 27,462 200 (9,845) 21.250 938 41,519 (15.588) (750) (9, 174) 90,662 188 32.345 98,156 116.608 (63,452J 151,312 Total of funds 1,957, 634 7,314,225 (7,204,686J 2,067, 173 PÈge 32 Llchfield Cathedral School IA company limited by guarantee) .wnTEQ Yn F!V.Ah!fllkl QTATEMEYTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Statement of funds (continued) Musicshare Core Monies receiv8d to run several of the Musicshare choirs. Arts Council funding Restricted funding from Musicshare Hub whirh is a partn8rship h8twppn L C.S. L irhfie.ld Cathedral an The Music Partnership with the aim ol promoling parkn¢ipation in singing for local primary, secondary and special schools. TIM Htrnman funding Restricted funding received in relation lo tennis coaching from the Tim Henman Foundab'on. Friends of LCS Friends are a parent associalion that fundraise on behalf ol the School and kindly agree lo fund specified expenditure. John Heath Musical Endowment fund The John Heath MusiGal Endowrllent fund is received lor the purposes of cov&ring s¢hool fees for students with seriou8 mu51cal commilrllents and outstanding allainmenl in music. Ukrainian muslc fund The Ukr8+Mian music fund was received from an anonymous donor lo be used to cover the music lessons of 8 Ukrainian pupil at LCS. Jan• Holmes fund These ILJnds were donated lo cover the purchase of a new grand piano as well a5 the procurement of personalised hymn books fo¥ thè School. 14. Summary offunds Summary of funds - current y8ar Balance at 1 September 2023 Balance at 31 August 2024 Transfers inlout Incomè Expendlture Designated funds General funds Reslricled funds 39.227 8,094,950 76,672 142,1071 17.686,1171 1108,216) 9.803 110.7351 932 6.923 2,313.959 120,700 1,915,861 151,312 2,067,173 8,210.849 17.836,4401 2,441.582 Page 33 Llchfigld Cathadral School IA company limited by guarantee) NCT= -, XE FI¥￿'c,, .TE￿=,yTs FOR THE YEAR ENDED 31 AUGUST 2024 14. Summary of funds Icontinuedl Summary offunds. prior year Balance al 7 September 2022 8alance al 37 August 2023 In¢om8 EX￿nditur9 General funds 1,859,478 98, 156 7, 197,6? 7 (7, 141,234) 116,608 (63,452) 1,915,861 151,312 Restricted funds 7,957.634 7.314,225 {7,204,688) 2.067, 173 15. Analysis of net a$sets between funds Analysls of nef assets between funds- Current period R8strict&d Unrestricted funds funds 2024 2024 Totsl funds 2024 Tangible fixed assets Current assets Creditors due within one year Creditors due in rnore Ihan one year 2,638.552 2,638,552 5,060,356 5,181.056 13,987,1561 13,987,156) 11,390,870) 11,390,870) 120.700 Totsl 120,700 2,320.882 2,441,562 Analysi5 of net assets between funds - prior period Reslricled Unr8slricled lunds funds 2023 2023 Total fund5 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 2,315,304 2,315,304 3,930,446 4,081, 758 (3,341,281) (3.341.287J (988,608) (988.6Q8J 151,312 Total 151.312 1,915,861 2,067, 173 Page 34 Lichfield Cathèdral School A ¢ompany limited by guarantee) NC TC-,XE", STA-, EMEN'-. FOR THE YEAR ENDED 31 AUGUST 2024 Tr 16. R8conciliation of net movement in funds to net cash flow from operatlng actlvltles 2024 2023 Nel income for the period las per Slalement of Financial Activities) 374,409 109,539 AdJustm•nts for: Depreciation charges Increase in deblors Increase in creditors Bank interest received Bank and loan interest paid 112,138 1101,5151 1.143,465 (82,1821 60.436 717,515 (255, 103) 27,207 (42,903) 5Q,884 Net cash provlded by operating activities 1,506,751 7, 139 17. Analysis of cash and cash equivalents 2024 2023 Cash in hand 2,976,757 I,g78,974 Total cash and cash equivalents 2,976.757 1.978,974 18. Analysls of changes in net debt September At31 2023 Cash flows August 2024 Cash at bank and in hand Debt due within 1 yÈar Debt clue after 1 year 1,978.974 1111,631} 1988,608} 997,783 48,079 47,249 2,976,757 163,5521 1941.3591 878,735 1,093,111 1,971,846 Pagp 35 Lichfield Cathedral School A company limited by guaranteel ri I QTlk ¥ir4 FOR THE YEAR ENDED 31 AUGUST 2024 19. Pension commitvnents The School's employees belong to two principal pension 5chernes'. the Teachers, Pension Scheme England and Wales ITPSI for academic and related staffr, and a defined contribution scheme for non- leaching staff. In reference to the defined contribution pension scheme, the ass8ts of the scheme are held separately froni those of the School in an independently adi)iiiiislered fund. The pensioii cosl char9e I"epreseiils contribiilions payable by the School to the fund and amounted lo £40.62012023 - £39,432). Contributions totalliny £9,559 12023 £9,428) were payable to the fund at the balance sheet date and are in¢luded in other credilors. The TPS is an unfunded seheme and mernbers contribute on a 'pay as you go, basis- Ihese contributions along with those made by employers are ¢redited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliamenl. The pension charge for the year includes contributions payable to the TPS of £624,371 12023- £568,916). VALUATION OF THE TEACHERS. PENSION SCHEME The Govemment Actuary, using normal Actuanal principles. conducts a lomial actuarial review of the TPS In accordance with Ihe Public Service Pènsions (Valuations and Employer Cost Cap} Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level ol fulure contributions. Actuarial scheme valuations ar8 d8p8ndent on assumptions about the value of future costs, de51gn of benefits and many other factors. The latest actuarial valuab.on ol the TPS wa5 carriod out as at 31 March 2020 and in accordance with the Public Service Pensions Ivaluations and Employer Cost Capl Directions 2014. The valuation report was published by the Department lor Education on 27 October 2023. with the SCAPE rate, sel by HMT, applying a notional inveslment relurn based on 1.7°/ts above thè rate of CPI. The key elements ol the valuation and subsequent consultation a￿.. employer contribution rates sel at 28.68VD of pensionable pay, including a 0.080/ts employer administration charge. lotal scheme liabilities Ip8nsions currently in payment and the estirnaled cost of future benefits) for service to the effeclive date of £262,000 million, and notional asse15 leslimaled future contribution together with the notional investments held at the valtjation datel of £222,200 million giving a notional past Servi￿ deficil of £39.800 million The valuation for 2020 det8rmined an employer rale of 28.680/0, which was payable from 1 April 2f124. A (x)py of the valuation repc>rt and svpporting documenlatson is on the Teachers, Pensions website. Llnder the delinilions set out in FRS 102, Ihe TPS is a mulli-employer pension scheme. The trust has accounted for its contributions to the schème as il it were a dgfingd conlribub.on scheme. The trust has set out above the information available on the scheme. Page 36 Lichfield Cathedral School A ¢ompany limited by gLtar8nteel YOT=S TO- TA-,= N'TS FOR THE YEAR ENDED 31 AUGUST 2024 cr 20. Operaling lease commitments At 31 August 2024 th8 School had commilm8nls lo make lulure minimum lease payments undar non- cancellable operating leases as follows.. 2024 2023 Not laler than 1 year Later than 1 year and not later than 5 years Later than 5 years 189.399 497,026 2,719,925 185,566 560,454 2, 773,988 3,406,350 3,520,008 21. Members. Ilablllty Each member of the charitable company undertakes to contribute to the a5set5 of the company in the event of it being wound up while helshe is a member, or within one year after helshe ceases to be a member, SUGh amount as may be required, not exceeding £10 for the debts and liabilities contm¢ted beforè h61sh8 ¢eases lo be a member. 22. Related party transactions Li¢hfie5d cathedral contributed £106.161 12023 - £86,136) towards the lees of the choristers during the year and provide an annual chaplaincy mentoring service at a cost of £7.000. 23. Controlling party The School is controllad by the board of Governors. P8ge 37