ST JOHN'S COLLEGE, DURHAM Members, report and financial statements 31 July 2025 Registered number 00113496 Registèred charfty number 1141701 Regl8tered Office 3 South Bailey Durham DH1 3RJ hlt s'.Ilwww.durham.ac.ukJcolle es-and-studen -ex eriencelcolle eslsl- ohnsl Sl John's College, Durham Members. Report and Financial Statements 31 July 2025 STIOHNS COLLEG&. DiIRHAM Contents Reportoflhe Members of thecouncil fortheyearending 31SlJuly 2025............................................ Our Vision and Values.............................................................................. Whoweare.................................................................................................. Whatwe do................................ Our Values . Our Vision................. A Centre ofLearning, Teaching and Research........................................................ A Place of Formation, Peacebuilding and Social Impact... A Community ofBelonging................................................. A Home for Future Generations. Our Strategic Pillars........................ Obje¢tives............................................................................................ A Centre ofLearning, Teaching and Research........................................................................... A Place of Formation, Peacebuilding and Social Impact............................................................. A Community of Belonging.................................................................. A Home forFuture Generations............................................................ Charitable Objeclives..................... Our Finances..................................... Fundraising................. Reserves and Financial Health 10 10 Designated and Restricted Funds................. Investment Policy performan￿.............................................. Slruclure, Governance and Managemenl.........-....................................................................... Key Management Personnel,.... Other Significant Relationships Durham University The Church ofEngland................. stJohn's College Common Room........................................... Risk Management................................................................... Council Members and Charity Trustees . Remuneration Committee..... 10 10 11 11 12 13 Professional Advisors.................................................... 14 Disclosure of information to auditors. 14 Audilors............ 14 Financial Slalemenls.... st John's College, Durham Members, Report and Financial Slalements 31 July 2025 SI'IUHN'5 CC)LLEG& DURHAM Slalement of Council Members, responsibilities in respect of the Report of the Members of Council and the Financial Slalemenls................. 15 Independent Auditor's Report to the Members of St John's College. Durham.. Statement of financial activities..................................... 16 .21 Balance Sheel............. .22 Cash Flow Slalemenl............................ .24 Notes.. .25 Accounting Policies. Grants & Donations.. .25 .30 Investment Income................................. .30 Total Fees Income..... .30 Commercial Business Income. 31 Other Income.............................................. 31 Nel Income Before Charges Are Stsled ........... Expendilure........................ Staff Co81s....................................... 31 .32 .33 10. Key management personnel Ilrusleesl........... 11. Taxalion........... .34 .34 12. Tangible FixedAssels....................... 13. Investment Properlies......................... 14. Investmenls............. .35 .36 .37 15. Stock.................... .37 16. Deblors............................................... .37 17. Creditors.. amounts falling due within one year 18. Creditors.. amounts falling due after more than one year... 19. Called-up share capital 20. Financial Commilments......................................... .37 .38 ,38 ,38 21. Financial Inslruments.............. .39 22. Movement in Funds.................. .40 23. Commitments under operating leases................ 24. Prior year comparatives by type of funds - Slalemenl of Financial Activities . 25. Analysis of netassels between funds...................................... 26. Related Party Transactions. 27. Conlingenl Liabililies................................. 28. Analysis ofchanges in Nel Debl............... .47 .47 .48 .48 .48 .49 Sl John's College, Durham Mernbers, Report and Financial Slalemenls 31 July 2025 STIOHN'5 COLLEGE. DURHAM St John's College Durham Report of the Members of the Councll for the year endlng 31¥t July 2025 The Council Members who are also shareholders and directors of the charitable company Sl John's College, Durham submit their annual reFiorl and the audited financial slalemenls for the year ended 315I JUSY 2025. The Council Member8 have adopted the provisions of the Slalemenl of Recommended Practice. Accounting & Reporting by Charities, ISORP FRS 1021 effective 1$1 January 2019 in preparing the annual report and accounts of the company. Our Vision and Values Who we are Sl John's College is a community of learning, formation, and research, rooted in Christian faith and open lo all. We are interdisciplinary. inlergeneralional, and hospitable. with over a hundred years of history and over seven thousand alumni across the worfd. We are situated in the historic heart of Durham city in the Noilh-Easl of England, beside a beautiful medieval Cathedral on a World Heritage Sile, within the globally recognised Durham University. As a college within the University, we recognise both our independence and interdependen￿. What we do We foster a vibrant intellectual. social and cultural environment, where every member can flourish, in order lo become wise and compassionate citizens. As one college of over eight hundred students and one hundred staff, we find strength in the dynamic complexity of undergraduate and poslgraduale education, ministerial formation and research initiatives. Our Values Alongside values such as learning and excellence, justice and hospilalily, St John's particularly values curiosity, gratitude, and kindness. Curiosity.. we encourage inlelleclual, cultural and spiritual enquiry. Gratitude.. we foster thankfulness, encouraging appreciation for people and place. Kindness." we priorilise kindness and generosity, as individuals and a community. Our Vision We seek lo be parl of a sustainable and peaceable future where people flourish, social justice is pursued, science, arts and culture are celebrated, citizens formed, teachers are taught, leaders emerge, faith is nurtured, and home is created. A Centre of Learning, Teaching and Research As the only college in Durham with its own leaching department we aim to be 8 leading centre of research, academic teaching and enquiry. theological scholarship, and ministerial formation. Sl John's actively engages with the global and local challenges facing society. working towards a more peaceful, just and sustainable world. A Place of Formation, Peacebuilding and Social Impact In a place of hospitable welcome, Sl John's inspires expressive excellence, imagination and creativity. We prepare graduates lo make meaningful contributions as Iransformalive citizens and creative participants in society and churches. Our college community provides a space for spiritual growth and exploration, empowering individuals lo discern their vocation and live lives of purpose. A Community of Belonging We foster a diverse and inclusive community that recognises our rich Christian heritage, nurturing a spirit of mutual respect and collaboration. Staff and students work together lo enable every member of the College community to flourish. Sl John's College, Durham Members, Report and Financial Slalemenls 31 July 2025 STI()HN'S CuLL&tsÈ. DUkHAM A Home for Future Generations Recognising our role as stewards, we sustain and develop outstanding facilities and a beautiful eslale, housing and facililaling world-class leaching, learning and research. Our Strategic Pillars To fulfil our mission and vision, we are commilted to four key strategic pillars lo guide our work over the next decade and beyond. These pi51ars shape our priorities and ensure that Sl John's College continues lo thrive as a place of learning, formation, belonging, and stewardship, A centre of learning. teaching and research A place of formation, peacebulldlng and social impact Undertaking impactful and relevant research and leaching Growing citizens and leaders for the 21st nlury who have the gifts and vision lo change our world Facilitating interdisciplinary and intergeneralional cross-ferlilisalion of ideas Co-creating a unique student experience that attracts the best lalenl from a range of backgrounds Growing and diversifying our educab'onal offerings sustainably Conlribuling to a leading research and teaching university. Engaging with the world and the Church al a local. national, and global level Investing in our people - students, staff and alumni creating a space where they can flourish. A community of belonging A home for future generations Remaining true to our generous Christian tradition in a way that is inclusive, respectful, and engaging of different worldviews Partnering with our alurllni, friends, and faith communities lo share our heritage and support our vision Offering a positive, cohesive student journey from applicants to alumni Creating a beaulifuS and functional, safe and sustainable home for our community Providing 8 place where students and staff can participate fully Stewarding our financial resources, historic estate, and talent effectively and responsibly. Empowering our students and staff to lake charge of their wellbeing and development. Sl John's College, Durham Members, Report and Financial Slalemenls 31 July 2025 ST IOHhfsCui.LEtiÉ. DUIIHAM Oblectlves Our objectives outline key priorities to strengthen St John's College as a centre of academic excellence. formation, and community. Through strategic investment in our eslale, leaching, wellbeing, and suslainabilily, we aim to enhance the sludenl and staff experience while ensuring long- term growth and impact. A Centre of Learning, Teaching and Research Foster a viable, vibrant, and ground-breaking research and leachin9 culture, engaging academic stall, fellows and students, 8s well as visitors from all over the world. Develop more public lectures & events. 2. Host up lo six research centres, projects and networks pmducing meaningful output, allracling external funding and enriching leaching. Current focal points include world Chrislianily, peacebuilding. church planting, faith & science and wide range of other interdisciplinary topics. Provide a supportive environment for producing and disseminating ground-breaking research. 3. Sustain and develop a core of diverse, excellent teaching staff across key disciplines to deliver a range of academic and formalional pathways for students and others from all over the country and woild. A Place of Formation, Peacebuilding and Social Impact 4. Appoint College Fellows as lead mentors for academic subjects, supported by poslgraduale researchers, lo integrate extracurricular academic support into existing sludenl enrichment programmes. 5. Implement a leadership development programme and EDI framework for students and staff rooted in our Christian tradition, incorporating core values. Collaborate with peacebuilding praclilioners and scholars, networks and organizations. 6. Invest in staff through fair remuneration policies and enhanced wellbeing and development opportunities. A Community of Belonging 7. Strengthen community and belonging for staff and students al all levels, aiming for meaningful improvements for Sl John's in the DU Wider Sludenl Experience survey. Engage creatively with Durham University's A¢￿sS and Participation plan. 8. Foster a positive student journey from applicants to alumni by.. a. Ensuring clear, engaging, and supportive messaging across all louchpoints, highlighting diverse sludenl experiences. b. Enhancing internal communications to ensure events, initiatives, and successes are widely shared and celebrated across the College., along with SCR member5, alumni and friends. Slrenglhening external communications lo boost engagement across social media channels over a five-year period. 9. Integrate sludenl and staff wellbeing initiatives by introducing al least two annual joint events, such as community volunteering or wellbeing aclivilies. A Home for Future Generations 10. Develop and deliver a revised Estate Slffttegy with increased annual investment lo the Asset Management Plan lo.. a. Provide high-quality sludenl accommodation, hospitality, leaching, learning, research, student experience, and corporate worship facilities. b. Ensure flexible, fil-for-purpose facilities for staff. Maintain excellence in safely. compliance, and regulatory standards. d. Significantly reduce Scope 1 and Scope 2 C02 emissions. e. Enhance accessibility across the estate. Sl John's College, Durham Members. Reporl and Financial Slalemenls 31 July 2025 ST IUHNS COLLEGÉ, DURHA 11. Deliver the 'Renewing the Heart of the College, capital works project and the Redevelopment of the Old Library project, raising the required tunds. 12. Deliver a revised Alumni & Development Strategy. ensuring our inter-connected college community maximises opporlunilies for volunteering and giving, including.. Enhancing and growing the 'Once a Johnian, programme lo strengthen alumni and SUPPOrter engagement, expanding opportunities for meaningful connections. mentoring, and lifelong involvement with the College. b. Growing philanthropic income through largeled lundr2i8ing campaigns, major gifts, and legacy giving. 13. Expand and diversify College income. 14. Ensure the suslainabilily and profilabilily of commercial income and maximise opportunities for externally funded research and engagement. 15. Ensure that College funds are responsibly invested and that restricted funds are carefully stewarded. Charitable Objectives The College's charitable objects, recorded in the Memorandum and Articles of Association lincorporaled 2 January 1911 as 8mended by special resolutions the last resolLJtion registered al Companies Hotjse 24 January 20111, are as follows.. 3.1 to provide in England and Wales by the eslablishmenl and maintenance of 2 college or colleges in connection with the university of Durham, for the education and training of candidates for holy orders in the church of England and other Christian ministries, conformity with the Christian faith which is uniquely revealed in the holy scriptures sel forth in the catholic creeds, and lo which the historic formularies of the church of England bear witness, and taking particular inspiration from and rooted in the proleslanl heritage and evangelical tradition of the church of England. 3.2 for the public benefit lo advance the education in a Christian selling of men and women - from all backgrounds and beliefs and of all faiths and none - al the college or colleges of the ompany, enabling them lo undertake a course of study andlor research in a range of subjects by providing facilities and services (including financial assistance, pastoral care and extramural enrichment}. Revlew of ActSvitSes 2024-2025 John's Hall The College's achievements this year are reflected both in sludenl recruilmenl and placements, and in the wide range of events that enrich the educational and formalional experience al the heart of our community. University examination results in the last two years are as follows.. 2025 2024 370 39g 48° 51° 7Yo Although student allocations are managed through Durham University's ￿ntral system, we remain committed to allr8cling talented students from diverse backgrounds. We regularly lake parl In the University's Pre-Application and Posl-offer Visit Days, often welcoming over a thousand visitors in a single day. We also hosted visits from local NoTlh East schools, where current students shared their experiences and led engaging a¢livities lo support widening participation. Following a careful review of engagement, we concluded the College Mentor Programme and thanked all existing mentors for their conlribulions. Moving forward, we will focus on providing informal mentoring and support through the Senior Common Room. St John's College, Durham Members, Report and Financial Statements 31 July 2025 5T11)HN% Q)LLEtsE. DURHAhl Continuing the implementation ofourAlumni & Development strategy, the College carried out a targeted monthly giving campaign aimed al developing a culture of giving in College. Our alumni community remain engaged with the College.. we have hosted reunions celebrating groups marking anniversaries ranging from 5 10 60 years since graduating al St John's and broader alumni gatherings in London. Alumni continue lo play an active role in College life, joining us for major events such as the Bailey Ball and our subjecl-themed Once a Johnian formal dinners. These occasions bring together alumni, friends of the College, local professionals, and academics lo connect with students, offering valuable opporlunilies for networking and guidance. Both students and alumni lind these events rewarding, and they are now a well-eslablished part of the po8lgraduale and undergraduate experience al Sl John's. We have also made stiides towards connecting with the wider community, hosting school visits from Bishop Auckland and welcoming members of the public lo explore our College's history and gardens through the hugely popular seC￿t Garden's of Sl John's events. Our communications channels have continued to generate strong engagement across our different audiences. The College Record reached key donors and friends of St John's in print, while also being accessed online from readers spanning five conlinenls. Over the past year, we produced more than 60 pieces for John's Chronicle, showcasing College life and highlighting the achievements of our staff, students, and alumni. Over the past two year we have produced a print version on the magazine featuring original artwork, As a scholarly community, the College welcomed visiting fellows from a wide range of disciplines and countries. During the year, we also reviewed and refined the system and recruitment process for Fellows and have been working with both ne￿Y appointed and returning fellows to strengthen their contribution lo College life. Cranmer Hall During this year Cranmer Hall supported the formation of 26 Anglican ordinands and 42 Free Church students through a rich programme of learning and practical ministry located in the North East of England. The College continued lo deliver excellent teaching across ils three programmes IBA, MA, and DThMI with lolal sludenl numbers of 137, and staff are active in speaking and research across a range of academic and ecclesial networks. In October 2024 Cranmer Commitlee signed off on the new vision through lo 2030. which priorilizes 'deeper foundations, faithful innovation. fruitful collaboration, as ils strategic goals for the coming 5-6 year period. We continue lo embed recommendations from our 2024 Periodic External Review which gave us the highest possible rating ol 'Confidence', and we have expanded our recruitment lo include a lermly pallern of open days, including joining in with the University's June open days, and our programmes are now listed on UCAS and the University's Poslgraduale admissions portal. The additional Relay staffing continues lo enable us to run Growing Leaders courses for churches across the region, while the bursaries have supported the growth of our Free Church pathway. In this year our Centre for Church Planting Theology relaunched as 'the Bede Cenlre, and produced reports, hosted webinars, and our now-eslablished annual church planting conference. Our Learning Hub for the Growing Faith Foundation completed ils second year, supporting inlegraled children's and youth work across home, church, and school conlexls,. we are increasingly rec(￿nIZed as a key national partner in this area. Our children's and youth emphasis also led lo the launch of new HE Certificate with specialism in children's and youth ministry, delivered part-lime over 2 years, with a first intake of 4 students. Research Centres Equipping Christian Leadership in an Age of Science IECLASI is a mullinalional ecumenical project, connecting senior church leaders with world-leading science and scientists since 2011. In 2024-2025, ECLAS focused building Community. ECLAS finalized language for an international survey on science engagement by church leaders. Public Theology Retreats gathered senior church leaders online lo discuss science engaged theology. ECLAS UK hosted an event for Black Majority Church leaders al the Royal Society and Hub Partners ran conferences in Nairobi, Kerala, and Sri Lanka. Regional St John's College, DurharN MembeTS' Report and Financial Slalemenls 31 July 2025 ST I()HNS CuLL&ti& DURHAM Scientists in Congregations 2nd Science for Seminaries awards programmes launched in India, Kenya, Poland and Singapore. ECLAS currently has projec15 running in 20 countries with parlicipanls from 40. The ECLAS team has also signed an agreement with the Anglican Communion Office, where the Revd Dr Mulhuraj Swamy will connect the Anglican Communion Science Commission and Anglican education programs worldwide with ECLAS resources. In addition lo a monthly research seminar, newsleller, and blog, team members speak regularly 21 academic, church, and public events. Team members published 2 books, 2 academic articles, and 2 reference volume entries on sciencellheology topics. ECLAS has seen significant engagement around the UK and growing interest around the world. The Bede Centre for Church Planting Theology and Research is currently in full operation, thanks lo a 2-year giant from the Sir Halley Slewarl Trust which has supported the Cranmer lecturer to slep up as half-time centre director, producing empirical and theological research and publications, conferences and seminars, into the practice of church planting. Future Plans John's Hall Staff wll continue collaborating with sludenl leaders to deliver the Sludenl Enrichment Pr￿raMMe and are committed lo further strengthening engagement with our Fellows. Following the launch of the College Strategy 202￿35, we are also progressing a rebrand, which includes a new independent College website and an updated College video. We are also planning lo launch an alumni-facing fundraising campaign for our capital works programme Renewing the Heart of the College. Cranmer Hall The Relay Trust continues lo be a key partner, bul they let us know this year that they would not be able lo support any new bursaries with effect from the 2025 intake. Whilst the relationship continues, the level of funding will naturally taper over the coming years, though the commitment to the 2 staff posts remains secure in the medium term. As a Iransilional measure College Council approved 'Cranmer Scholarships, which will cover via internal funding 500/D of the cost of a BA or MA degree for three years. whilst we seek allernalive sources of external funding for bursaries and scholarships. We have been successful in allracling external funding for training for lay leaders in new woishipping communities, and for church incumbents in the area of children's and youth work, both of which are sel to begin from 2025 onwards. The funding in children's and youth work may enable bursaries lo become available, and also the exploration of expanding our HE Certificate pathway lo an HE Diploma as well as developing MA-level training in this area. Our MA programme Director and Academic Dean are undertaking a review of the MA lo explore how best lo position the programme and allracl a larger number of students. The sector-leading DThM will continue lo be developed in response to a comprehensive and extremely positive review undertaken during 2025 with report linalized in September 2025 for implemen12tion in the coming academic year. Finan￿ and Operations Our Finances Fee income for the year increased by 89/0 to £4,909, 197 on the previous year's figure £4,527,111. The majority of the increase in income is due lo a higher number of students in residence and an increase in the number of Cranmer students paying tuition fees. The movement on unreslricled general funds before transfers amounted lo a nel inflow of £741,532 12024.. nel inflow of £716,821), on designated and reslricled funds before transfers an outflow of Sl John's College, Ourham Members. Report and Financial Statements 31 July 2025 SI IOHNI CuLLÉQiÈ. i)URHAhl £435,09812024'. £39,617). Before transfers, the endowment funds amounted lo an inflow of £6,450 12024.. £nill giving a lolal inflow for the year of £312,88412024.' outflow of £677,204). The annual valuation of the college's investment property was carried out by the same valuer as in 2024 and the decrease of £375,000 reflects the volatility of market conditions having increased in the previous year by £225,000. Further details can be found in note 13 to these accounts. Cash al bank and in hand has fallen by £535,832 10 £3.610,341 12024.. £4,146,174) principally dLJe lo the repayment of loans during the year, Further details can be found in the cashllow statement on page 24 of these accounts. Fundraising The College ffiises funds to support capital and research projects as well as creating student opportunities through scholarships and bursaries. These come from a range of sources including grants from trust and foundations and donations and legacies from alumni and friends of the College. The College has not used external fundraisers during the year. Continuing the Implementation of our Alumni & Development strategy, the College carried out a largeled legacy campaign to plant the seed for giving to the College. A Gift Agieèmenl is in place for all major gifts. Resetves and Financial Health The Sl John's College Reserves Policy slates that the appropriate level of free reserves is 100/0 of budgeted expenditure and that this should be held in an accessible investment meeting the criteria of the Investment Policy. A figure of 10,/0 is appropriate because this roughly Bccords with the level by which sludenl numbers could be at Variance from predicted in normal circumstances. For the year ended 31 sl July 2026 10'k of budgeted expenditure is £424,000. At 31 sl July 2025, the level of free reserves, being unrestricted funds (excluding designated funds) not held in fixed assets or related long- term botmwing, amounted lo £309,883 12024.. £1,526,552). This has fallen due lo the repayment of loans during the year. Designated and Reslricled Funds The Audit Committee supervises and monitors, on behalf of Council, the administration of the designated and reslricled funds entrusted lo the College. There were 3312024.. 371 reslricled funds and 8 12024. 81 designated funds al the end of July 2025. with a lolal value of £6,141,696 {2024'. £6,028,886), 330/012024.. 460/0} of the reslricled funds are held in independently managed units in the CBF Church ol England Investment Fund. The value of these units decreased by 0.50/D12024'. increasè 7.4fJ/ol during the year and yielded a dividend of 2.70/012024". 2.80/01. The balance is held as cash. The legacy income in designated funds is represented by investment property held in a bare trust on behalf of the joint legalees, with the balance being held in interest bearing deposit accounts. Investment Policy Performance The College's aim in investing fLJnd8 is to protect and if possible, increase assets in trust while maximising overall return and operating within the agreed ethical policy. The balance of capital growth and income generation should be toward income. The risk acceptable lo the College is medium. The aim should be lo preserve the capital if possible, and the Iruslees recognise that avoidance of risk may cap return. Risk reduction will usually mean investing in FX)oled funds, along with other charities, managed by independent tund managers with a good reputation and record of accomplishment. The choice of fund will usually show wide diversification Iwilhin ethical criterial and will avoid investments in specific market segments {Ihat might have higher ethical credentials bul may also carry higher risks). The College's view on ethical investment is that all investments should comply with the Church of England's Ethical Advisory Group guidance. 10 st John's College, Durham Members, Report and Financial Slalemenls 31 July 2025 SI 10>4N% CuLLELik, LWRHA structure, Governance and Management Key Management Personnel The Principal is responsible lo the College Council, together with the other College Officeis, for the day- to-day management of the college. The Principal during the year was Professor J Mitchell, the Warden was the Revd Dr N Moore, the Vice Principal was Dr R 8ouveng and the Finance & Opeialions Director was Mr CE Courlman. The Warden is primarily responsible for the operation of Cranmer Hall and the Vice Principal for undergraduate and poslgraduale mallers, the Finance & Operations Director for the professional and support services within the College and all operational mallers outside the sludenl academic and formaliona5 aclivilies. Other Significant Relationships Durham University Durham University rècognises Sl John's College, and the relationship is governed by a Memorandum of Understanding. Students who are members of Sl John's College are students of the University, and sILJdents studying within Cranmer Hall are awarded Durham University degrees under Common Awards. The Church of England The first purpose listed in the College's governing documents is the education and training of candidates for Holy Orders in the Church ol England and the second being 'general education, at Durham University. This is reflected in the proportion of revenue derived from fees paid by the Dioceses of the Church of England lo fund the tuition. formation, and residential fees of students within Cranmer Hall. Sl John's College Common Room Sl John's Comrnon Room Ilhe'SJCR'I is a students, union and a registered charity, which encompasses the Middle and Cranmer Common Rooms. The relationship between the SJCR and the College is govemed by a Memorandum of Understanding. Risk Management The College has a comprehensive process lo identify, assess, mitigate. and monitor risk. This has produced a risk register for the College. College Officers regularly review the risks identified and the controls in place to rnitigale these. Audit Committee, on behalf of Council, oversees this process. During 202412025 the principal risks and uncertainties were identified and assessed in the following areas.. Major health and safely incident Serious sludenl mental health incident Financial Systems Unforeseen large-scale disruptive external economic event Sludenl Recruitment - John's Hall Capital Works Project Allegations of discrimination, misconduct and safeguarding malpractice Sludenl Recruilmenl - Cranmer Maintenance of buildings Commercial business Key person dependency Data protection Recruilmenl andlor retention of adequately skilled staff HR management Cyber resilience 11 Sl John's College, Durham Members, Report and Financial Statements 31 July 2025 SI IUHNS CuLL&fi&, DURHAM Failure lo remain compliant or identify regulatory change Rising operational costs linflalionl. Security breach Council Members and Charity Trustees Sl John's College, Durham was historically an exempl charity and therefore had no registered charity number. This arrangement ¢hanged under the Charities Act 2006. During 2010111 the Council adopted a revised Memorandum and Articles of Association and prepared a Public Benefit Statement that enabled registration with the Charity Commission and the allocation of a Registered Charity number 1141701. st John's College, Durham is a company limited by shares bul by license of the Board of Trade the word 'Limiled' is omilled from the name ol the Company. Council directs ils operations in accordance with the Memorandum and Articles of Association. During the year ended 31 sl July 2024 Rl Revd Dr Robert Innes served as President of Council and Dr Jamie Harrison served as Vice President. Membership of Council is by election of the Council. Nominations are made by the Search and Nominations subcommittee of Council which is chaired by the Presiolenl of the Council. Formal induction and training of Iruslees takes place and is overseen by the Principal. An induction pack is provided to each new member of Council which contains copies of all relevant policies and procedures. Council has a committee slruclure, consliluled under the slalèment ol delegations adopted by Council. Each committee has a governing document selling out ils membership, terms of reference, powers and how often the committee should meet and ils reporting requirements. Audit & Risk Committee consists of an independent chair and two non-exec members of Council and is responsible for overseeing the external audit of the financial slalemenls. The current committee structure is as follows.. > Audit & Risk Committee College Life and Learning Committee > Cranmer Committee Eslales Committee Finance Committee > Human Resources Committee Remunèration Committee > Research Committee > Search and Nominations Committee As St John's College's purpose is lo benefit students of both the University and the Church, land through this to offer wider public benelill the college's management and governance structures are designed to be particularly responsive lo those groups. College Officers meet regularly with sludeNI representatives and Council membership includes seals for the Sl Johns Common Room President and the Cranmer Common Room President. The wider church is well represented on the College Council. The interests of the University are safeguarded by the Vice Chancellor and two members of the University on College Council lan external member appointed by the Council of the College, bul whose appointment is ratified by the Council of Durham University and an appointed external member who has been proposed for appointment by the Council of Durham Universilyl. The Counci5 Members have assessed the major risks to which the charity is exposed, in particular those related lo the operations and finances of the charity and are satisfied that systems are in plaTr lo mitigate exposure to the major risks. 12 Sl John's College, Durha Members. Report and Financial Slalements 31 July 2025 IOHN'S COLLEGE. DURHAM Council Members who served during the financial year 202412025 and up lo the dale of signing this report.. Council Member Dr R 8ouveng Mr C Courtman ointed or resi ned in the financial eriod Mrs C Curran Mrs Dale Dr M Gilmore Canon Dr J Harrison Professor M Higton Mrs M Huljak Rt Revd Dr R Innes Mrs S Judson Mrm Killen Rt Revd E Lane Miss E Martin Professor A Michae1 Professor J Mitchell Revd Dr N Moore Miss J Newlove Revd F Ngangira Mrs K Routledge Iformerly Stephenson) Rt Revd Dr E Sander50n Resigned 0610612025 Appointed 1811012024 Resigned 1811012024 Appointed 1811012024 & Resigned 30106/2025 Resigned 2110312025 Appointed 0511212025 Ms J Sutton Professor T Ward Remuneration Committee The Remuneration Committee, a committee appointed by and reporting lo Council and chaired by President of Council, is responsible for determining. within such sums as may be agreed by Finance Committee. the remuneration of College Officers, including the Principal, and for approving any termination arrangements, including pension enhan￿mentS. made lo College Offi'cers in connection with the cessation of their employment. 13 Egv Sl John's College, Durham Members. Report and Financial Slalemenls 31 July 2025 5TIQHN'sCI)I.LEGE. t>lJRHAM Professional Advlsors Auditors S&WAudil 17 Queens Lane Newcastle upon Tyne NE1 1RN Bankers Barclays Bank PIC 6 Market Place Durham DH13ND Insurance Brokers Marsh Commercial 1 Whitehall QLJay Whitehall Road Leeds LS14HR Solicitors Surveyors Swinburne Maddison George F White LLP Venture House Dean Street Arch Aykley Heads Business Centre 22 Dean Slreev Aykley Heads Newcastle upon Tyne Durham NE1 1PG DH1 5TS Disclosure of information to audltors The members who held office at the dale of approval of this members, report confirm that, so far as they are each aware, there is no relevant audit information of which the company's auditors are unaware,. and each member has taken all the steps that helshe ought to have taken as a member to make himselflherself aware of any relevant audit information and lo establish that the company's auditors are aware of that information. Auditors S&W Partners Audit Limited (Formerly CLA Evelyn Partners Limiledl have indicated their willingness to continue in office as auditor, and a resolution concerning their reappointment will be pul forward al the Annual General Meeting. By order of the board Rt Revd Dr Robert Innes Ch2ir of Council 3 South Bailey Durham DH1 3RJ 5 December 2025 14 Sl John's College, Durham Members, Report and Financial Statements 31 July 2025 ST IOHN% CLILLEts&. lliifiHAM Financial Statements Slalemenl of Council Members, responsibilities in respect of the Report of the Members of Council and the Financial Statements The Council members Iwho are also directOTS of Sl John's College, Durham for the purposes of company lawl are responsible foi preparing the MemtErs' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the members lo prepare financial slalemenls for each financial year which give a true and fair view of the slate of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial stalemenls. the members are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgments and eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject lo any mateiial departures disclosed and explained in the financial stalemenls., and prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charitable company will Continue in business. The members are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position of the charitable company and enable them to ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ofthe charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the members are aware.. there is no relevant audit information of which the charitable company's auditor is unaware., and the members have taken all steps that they ought lo have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. The members are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 15 Sl John's College, Durham Members, Report and Financial Slalements 31 July 2025 ST I¢)HNS COLLEG&. DUEIHAM Independent Auditor's Report to the Members of St John's College, Durham Oplnion We have audited the financial slalemenls of St John's College, Durham Ilhe 'charilable ¢ompany'l for the year ended 31 July 2025 which comprise the Slalemenl of Financial Activities, Balance Sheet, Cash Flow Statement and notes lo the financial stalemenls, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the slate of the charitable company's affairs as al 31 July 2025, and of the incoming iesources and application of resources, including its income and expenditure, for thè year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in awordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's respDnsibilities for the audit of the financial slalemenls section of our report. We are independent of the group and charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that. individually or collectively, may cast significant doubl on the charitable company's ability lo continue as a going concern for a period of al least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the Iru8lees with respect lo going concern are described in the relevant sections of this report. other information The Iruslees are responsible for the other information. The other information comprises the information included in the Iruslees. annual report, other than the financial slalemenls and our auditor's report Ihereon. Our opinion on the financial slalemenls does not cover the other information and, except lo 16 Sl John's College, Durham Members, Report and Financial Slalements 31 July 2025 SI I()HN'S CQI.LF.fJE. DIJRHAhl the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial stalemenls, our responsibility is to read the other information and. in doing so, consider whether the other inforfflalion is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misslaled. 11 we identify such material inconsistencies or apparent material misslalements, we are required lo determine whether there is a material misstalemenl in the financial slalemenls or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material mis51alemenl of this other information, we are required lo report that fael. We have nothing lo report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees. report lincorporaling the strategic report and the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial slalements., and the strategic report and the directors, report have been prepared in accordance wlh applicable legal requirements. Matters on whlch we are required to report by exception In the light of our knowledge and understanding of the parent charitable company and ils environment obtained in the course of the audit, we have not identified material misslatemenls in the directors, report. We have nothing lo report in respect of the following matters in relation lo which the Companies Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept by the charitable company, or returns adequate for our audit have not been received from branches not visited by us", or the charitable company's financial slalements are not in agreement with the accounting records and returns., or certain disclosures of directors, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. Responsibilitles of trustees As explained more fully in the trustees, responsibilities slalement sel out on page 9, the trustees (who are also the directors of the charitable company for the purposès of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial slalemenls that are free from material misslalemenl, whether due lo fraud or error. In preparing the financial slatemenls, the trustees are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable, mallers related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but lo do so. 17 Sl John's College, Durham Members. Report and Financial Statements 31 July 2025 STIQHNS CuLLEOE.DURHAM Auditor's responsibilities for the audit of the financial statements We have been appointed auditor under the Companies Act 2006 and we report in accordance with this Act. Our objectives are lo obtain reasonable assurance about whether the financi81 slatèmenls as a whole are free from material misslalemenl, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is 8 high level of assurance, but is nat a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-complian￿ with laws 8nd regulations. We design procedure5 in line with OLJr responsibilities, outlined above, lo delecl material misstalemenls in respect of irregularities, including fraud, The exlenl to which our procedures are capable of detecting irregularities, including fraud, is detailed below. We obtained a general understanding of the company's legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the enlily's policies and procedure5 regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the company's indLJStiy and regulation. We understand that the charitable company complies with the framework through.. Engaging external legal profèssionals as required and making changes lo internal procedures and controls as necessary. The directors. close involvement in the day-to-day running of the business, meaning that any litigation or claims would come lo their allenlion directly. Monitoring of updates made by regulatory bodies. In the context of the audit, we considered those laws and regulations which determine the form and content of the financial slalements, which are central lo the company's ability lo conduct its business, and where there is a risk that failure lo comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the company.. The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements. The Charities Act 2011 and the Charities.. Slalement of Recommended Practice in respect of the preparation and presentation of the financial statements. We performed the following specific procedures to gain evidence about compliance with the significant laws and regulations identified above.. Making enquires of trustees and management as to where they consider there lo be a susceptibility to fraud and whether they have any knowledge or suspicion of fraud., 18 St John's College, Durham Members, Repoil and Financial Statements 31 July 2025 SI SQHN% C()1 LF.GE. r)LIIIHknI Obtaining an understanding of the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations,. Reviewing the minutes of meetings of those charged with governance., The senior slalulory auditor led a discussion with senior members of the engagement team regarding the susceplibilily of the group and the charitable company's financial slalements lo material misslatemenl, including how fraud might occur. The areas identified in this discussion were.. Manipulation of the financial statements via and management overriding control5. The risk that fee income may be recognised in the incorrect accounting period. The incorrect recognition of grants and donations resulting in the income being recognised in the incorrect accounting period. The risk that the assumptions adopted in the valuation of the land and building tangible fixed assets are inappropriate. resulting in an inappropriate valuation being adopted. The risk that the assumptions adopted in the valuation of investment properties are inappropriate, resulting in an inappropriate valuation being adopted. These areas were communicated lo the other members of the engagement team not present al the discussion. The procedures we carried out to gain evidence in the above areas included.. Performed data analylics on the general ledger against client specific criteria Selected a sample of fee income, agreeing the revenue to supporting documentation and through to the bank stalemenls. Performing testing of transactions recorded around the peiiod end to ensure that they have been recorded in the correct a￿oUntIng period. Obtained third party evidence for a sample of donations and grants, lo ensLJre that it was appropriate lo recognise the income In the financial statements in accordance with the principles of the SORP. Obtaining and evaluating the director's valuation of the fixed assets properties and challenging management's assumptions for reasonableness. Obtaining the third-party valuation undertaken for the investment properties, and corroborating the key assumptions used lo market data. A further description of our responsibilities for the atjdil of the financial statements is located on the Financial Reporting Council's website at.. www.frc.org.LJklauditorsresponsibililies. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Pail 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those mallers we are required lo stale lo them in an auditor's report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume 19 Sl John's College, Durham Members, Report and Financial Slalemenls 31 July 2025 SI 11)HN% C()LLEGE. DURHAM responsibility lo anyone other than the charitable company and the charitable company's members as a body, for our audit work, lor this report, or for the opinions we have formed. Craig Henderson Senior Stalulory Auditor for and on behalf of S&W Audit Chartered Accounl8nls and Slatulory Aijdilor 16 tknV45 IV'L. 17 Queens Lane Newcastle upon Tyne NE1 1RN 20 st John's College, Durham Members, Report and Financial Statements 31 July 2025 5T I¢)HN% CoLLEtsE. DUMHAM Slalemenl of financial activities (incorporating income and expenditure account) for the year ended 31 July 2025 Endowment fund. ievaluatlon reserve and Unrestritted Deslgnated funds Unre5trittEd REstrittEd Ivnds Total 2025 Total 2024 Note5 Income Volvntarylncome Grant5 Donation5 Investmentlncome 1nttsme liom charitsble 12.334 9d.934 &642 94219 2.381335 38358 2,401311 3A267 L840,322 2¥360 7,726 Total lee5 in¢ome Income Irorn othertridino 4,91B,197 4,YYJ,197 4,517,111 Commerclal bu51ne55 lTrfQm Recharge5 oiherinrotn 263,a49 2￿,170 30,656 IiK),114 363,463 2Q3,270 36,201 423.797 ,563 62,799 2,937 7,726 5,513,740 2￿￿,5 2,411,6 8,IS2,7(B 7,386.%2 ExpenrSiture xpendituie on tharftable actIvS￿E5 14.676.985) 1%,2231 1SLNI2491 IL076,7981 17.254.032> 1206.4541 1&840,9691 1159,1821 Total expeNditur 14772,2081 1611.480) 12,0747981 17,4EQ.4861 17,QW.ISII inve5tmEnts 14 14.3391 65,403 Invesitneni property 13 1375.IWI I3￿,(￿} 225.( Net Income/lexpenditurel bpforè 450 741.532 1121.3911 1776,8971 550,N 34l793 12.0921 312,884 677,204 fjr05S translers between lund5 22 1420.(t7) 62q141 122Q897) 339,707 311884 677,204 12 Npt movement infundslortheyear I42D,[￿7} 620,141 122ia971 339,707 311884 677.204 Fund balan￿5 bioughtfDfw3id 5,42S945 217.891 1,810,994 23,159,879 2L432,675 (hèr&ed on revaluedfixed I55Et5 22 22 138,2591 4,%7,619 38,259 11363.445 19¥995 1150.701 23,471763 23,159,879 All of the above results are derived from continuing activities. The charitable company has no other recognised gains and losses other than those slated atK)ve. The notes on pages 25 to 49 form part of these financial statements. 21 St John's College, Durham Members, ReF)orl and Financial Statements 31 July 2025 STIOHNS COLLEGE. DURHA Balance Sheet at 31 July 2025 2025 2024 Notes Flxed assets Tangible assets In¥estment pioperties Inwsttnenls 12 13 14 17,021,184 2,375.0 946.208 17,879,221 2,750.IK)O 950,547 20,342,3Y2 21,579,768 Current assets Stock Debtors Cash al bank and in hand 15 16 13,611 110,222 3,610.341 14,950 77,908 4,146.174 3,734, 174 4,239,032 Creditors.. amounts falling due within one year 17 1499,6681 14XI,3811 Net current assets 3,234,31 3,788.651 Total assets les5 current liabilities 23,576.698 25,368,419 Creditors.. amounts falling due after more than one year 18 1103,9351 12,208,540) Net assets 23.472.763 23,159,879 Capitsl and reserves Called up share ca￿[81 Endowment ￿nd Revaluation reseNe Endowment funds 19 24 24 22 22 4,658,384 309,211 5.123,160 302,761 4,967,595 5,425,921 Unrestricted accumulated ￿nd Designated funds Reslricled funds 22 22 22 12,363,448 3,990,995 2,150,701 11,705,048 4,217,892 1,810.994 23.472.763 23,159.879 22 Sl John's College, Durham Members, Report and Financial Statements 31 July 2025 S"[ i(IHN'% GuLLkfig. L)UkHAM These fi'nancial slalements were approved by the Members of the Council on 5 De￿mber 2025 and were signed on ils behalf by.. Reverend Professor Jolyon Mitchell Member of Council Right Reverend Doctor Robert Innes Chair of Council Registered number 00113496 Registered charity number 1141701 The notes on pages 2510 49 form parl of these financial slalements. 23 Sl John's College, Durham Members, Report and Financial Statements 31 July 2025 ST11)HNS CoLLEQpk DUIIHAM Cash Flow Statement For the year ended 37 July 2024 2025 2024 Cash flo￿￿ frorn operating aclimties 1,118,947 894,584 Cash flows from in*sting acti￿tieS Pur¢hasÈ of langiVAe fixed assets 1105,4441 Net cash outflow trom in￿Sting acti￿ltieS 1105,4441 Financing aCti￿lieS Repayment of borrovllngs 11,654.7801 1185,9901 11.654.780) 1165.gwl Increaselldecteasel in c95h and Gash equi*lenls in the year 1535,8331 623,150 Cash and cash equikÈlenls at th8 beginning of year 4,146,174 3,523,024 Cash and c88h 8qUiYdlenls at Ihe end of the year 3,e10,341 4.146,174 Cash flows ffom operatln9 a¢tlvltlÈs 2025 2024 Nel income L0$51lGainl on In￿StMentS LossIIGainl on rebBluation of In￿lment prop8rty IProfilllLoss on disposal of tangible fixed assets Depreciation Dec￿88e111nCreaseI in stock Ilncreas8llD&cr8ase in debtors ncrea$ellDecreasel in non1oan creditor5 312.8B4 4,339 375,000 I12.4￿) 250.437 1.339 132,3141 219.662 677,204 165,4031 1225,WOI 263,726 2,646 143,1021 284.513 1.118,947 894,584 24 Sl John's College, Durham Members, Report and Financial Slalemenls 31 July 2025 SI IOHN'% C(11.l.F.(JE. DIINHA Notes (forming part of the fir7ancial statements) l. Accounting Policies Basis of Preparation The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151 ICh8rilies SORP IFRS 10211, and the Companies Act 2006. Going Concern FRS 102 requires that, if appropriate, the College's financial statements a￿ prepared on the going concern basis, which means that the organisation is able to operate for at least 12 months from approval of the financial stalemenls, on the basis of known and reasonable projected resources. Management have prepared detailed budgets and cash flow forecasts up to July 2026, and summary budgets and cash flow forecasts have also been prepared lo 12 months from the dale of signing these accounts to assist with going con￿rn considerations. In preparing these forecasts consideration has been given lo the ongoing economic uncertainties including those relating lo supplies of catering provisions, gas and eleclricily, specialist maintenance services and building materials. The cost of wages is a further point of uncertainly with anlicipaled uplifts lo the minimum wage. The College has sufficient resources available lo meet liabilities as they fall due. As such there are no material uncertainties in respect of the College's ability to continue as a going ¢onTrrn, As a consequence, the Members believe the company is well placed to manage ils business iisks successfully and therefore have adopted the going concern basis of accounting in preparing the financial slalemenls. Fund Accounting Designated funds comprise general funds which have been set aside al the discretion of Members of the Council for specific purposes. The purpose and use of the designated funds are sel out in note 22. Restricted funds are funds subject lo specific restrictive conditions imposed by funders or by the purpose of the appeal. The purpose and us use of the reslricled funds are set out in note 22. Endowment funds arise when the donor has expressly provided that the gift is to be invested and only the income of the fund may be spent. Revaluation reserve consists of cumulative revaluation gains and losses in respect of land and buildings. All income and expenditure is shown in the Statement of Financial Aclivilies. Income All income is recognised when the College becomes entitled lo the funds, likelihood of receipt is probable and the amount measurable.. Fee income comprises College fees, maintenance fees and sludenl rents. Commercial business income comprises bed and breakfast lellings, conferences during vacations and bar sales. Recharges comprise staff costs and office costs charged lo restricted funds or other organisalions. Other income comprises sales of alumni merchandise and various publications, and other miscellaneous income. 25 Sl John's College. Durham Members, Report and Financial Slalemenls 31 July 2025 SI IuHN'sCuLLÈGE. LJUIIHAM Grants & Donations comprises grants, legacies. gifts and donations given by supporters. the general public and business. Expenditure All expenditure is recognised on the accruals basis. Charitable expenditure comprises expenditure relating lo the direct furtherance of the charitable objectives. Costs of generating funds comprises the costs incurred in relation lo commercial business, which is undertaken lo provide funds lo support the charitable objectives of the College. Irrecoverable VAT is included as an expense where appropriate. Governance Costs Governance costs include those incurred in the govemance of the charity and ils assets and are primarily associated with conslilulional and statutory requirements. These are included within expenditure on charitable aclivilies. Interest receivable and interest payable Interest payable and similar charges include interest payable and finance leases recognised in the Slalemenl of Financial Activities using the effective interest method. Other interest receivable and similar income include interest receivable on fLJnds invested. Interest income and interest payable are recognised in the Statement of Financial Activities as they accrue, using the effective interest method. Dividend income is recognised in the Statement of Financial Activities on the dale the company's right lo receive payments is established. Basic financial instruments Trade and other debtors/credilors Interesl-bearing borrowings are recognised initially al the present value of fuluie payments discounted at a market rale of interest. Subsequent lo initial recognilioN, inleresl-bearing ljorrowings are staled al amorlised cost using the effective interest method, less any impairment losses. Inlerest~bearing borrowings classif￿d as basic financial inslrunlents. Inleresl-bearing borrowings are recognised initially al the present value of future payments discounted al a market rate of interest. Subsequent lo initial recognition, interesl-bearing borrowings are slated al amortised cost using the effective interest method, less any impairment losses. Cash and cash equivalents Cash and cash equivalents comprise cash balances and call deposits. other financial instruments Financial instmments not considered lo be BasiG Financial Instruments Other financial instruments not meeting the definition of Basic Financial Instruments ale recognised initially at fair value. Subsequent lo initial recognition other financial instruments are measured al fair 26 st John's College, Durham Members, Report and Financial Statements 31 July 2025 SI IoHN'sCuLLEtiE.DURHAM value with changes recognised in the Statement of Financial Aclivilies, except investments in equity instruments that are not publicly traded and whose fair value cannot otherwise be measured reliably shall be measured al cost less impairment. Tanglblè flxed asset5 and depreclatlon Tangible fixed assets are staled at cost or valuation including any incidental expenses of acquisition. Additions, which are capilalised when greater than a de minimus level of £5,000 for any individual item or £15,000 lor any group of items, and disposals are included when conlraclual obligations have been mel. Freehold land is not depreciated and is treated as being 113 of the property value. Depreciation is provided on all other assets al rates calculated to write off the cost or valuation, less estimated residual V21ue, over their estimated useful economic lives as follows.. Freehold property 20/0 slraighl line Leasehold property straight line Fixtures, fittings and equipment 200/0 straight line The policy for freehold and leasehold property is lo undertake an RICS fair basis revaluation every 3-5 years. For assets under construction, costs are included as debtors lo the point where planning permission is received. Al that point all costs lo date are transferred lo assets under construction, and subsequent costs are added as incurred. At the point of final completion the costs are transferred lo the relevant fixed assets category and depreciated as above. The Trustees consider the need for impairment of fixed assets on an annual basis. Revaluation Gains on revaluation are recognised on the fa￿ of the Slalement of Financial Activities before arriving al net movement in funds and accumulated in ievalualion reserve. Losses arising on revaluation are recognised on the face of the Statement of Financial Activities before arriving al nel movernenl in funds lo the exlenl of any previously recogni5ed revaluation increase accumulated in equity, in respect of that asset. Any eX￿s5 is recognised in expenditure. Investment property Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially al cost. Subsequent to initial recognition.. investment properties are held al fair value. Any gains or losses arising from changes in the fair value are recognised in the Slalemenl of Financial Activities in the period that they arise,. and no depreciation is provided in respect ol investment properties. 27 Sl John's College, Durham Members, Report and Financial Slalemenls 31 July 2025 STIDHNS COLLEGE. DUR14AM Impairment excludlng stocks and investment properties Financial assets (including trade and other deblorsj A financial asset not carried at fair value through the Slalement of Financial Activities is assessed al each reporting dale lo determine whether there is objective evidence that il is impaired, A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably. An impairment loss in respect of a financial asset measuied al amortised cost is calculated as the difference between its carrying amount and the present value of the eslimaled future cash flows discounted at the asset's original effective interest rate. For financial instruments measured al cost less impairment an impairment is calculated as the difference between its carrying amount and the best estimate of the amount that the charitable company would receive for the asset if it were to be sold at the reporting dale. Interest on the impaired asset continues to be recognised through the unwinding of the discount. Impairment losses are recognised in the Slalemenl of Financial Aclivilies. When a subsequent event causes the amount of impairment loss lo decrease, the decrease in impairment loss is reversed through the Statement of Financial Activities. Non-financial assets The carrying amounts of the charitable company's non-financial assets, other than investment properly and stocks are reviewed at each reporting dale lo determine whether there is any indication of impairment. If any such indication exists, the asset's recoverable amount is estimated. The recoverable amount of an asset is the greater of ils value in use and ils fair value less costs to sell. For the purpose of Impairment testing, assets that cannot be lesled individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows ol other assets or group of assets. An impairment loss is recognised if the carrying amount of an asset exceeds its eslimaled recoverable amount. Impairment losses are rewgnised in the Statement of Financial Aclivilies. Impairment losses recognised in prior periods are assessed al each reporting dale for any indications that the loss has decreased or no longer exits. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed that would have been determined, net of depreciation or amortisalion, if no impairment loss had been recognised. Provlsions A provision is recognised in the balance sheet when the charitable company has a present legal or conslruclive obligation as a result of a past event, that can be reliably measured, and it is probable that an outflow of economic benefits will be required lo settle the obligation at the reporting dale. Stocks Stocks are slated al the lower of cost and nel realisable value. Stock includes catering provisions and bar provisions. Penslons costs The schemes in which the charitable company parlicipales are the Church of England Funded Pension Scheme and the Universities Superannuation Scheme. The assets of these funds are held separately from those of the College in independently administered funds. The Church of England Funded Pension Scheme is a defined benefit scheme, bul the College is unable lo identify ils share of the underlying assets and liabilities. Each employer in the scheme pays a common 28 Sl John's College, Durham Members, Report and Financial Slalemenls 31 July 2025 STIUHN'S CuLI.k.Ipk. DllkHAM contribution rate. Vvhere the share of 2sselsiliabililies cannot be identified, FRS 102 requires the College lo account for pension costs on the basis of contribution actually payable to the Scheme in the year. The Universities Superannuation Scheme is a defined benefit scheme. The College is unable lo identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis and therèfore, as required by FRS 102, accounts for the scheme as if il were a defined contribution scheme. The charitable company also has a defined contribution scheme with Aviva, the amount charged lo the Slalemenl of Financial Activities in respect of pension costs and other posl-relirement benefits are the contributions payable in the year. Investments Investments are slated al market value. Unrealised and realised gains or losses are reported in accordan￿ with the SORP. Investment income is recognised on a receivable b8SIS. Judgements and key sources of estimation uncertainty In the application of the College's accounting policies, the members are required lo make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other source5. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions lo accounting eslimales are recognised in the period in which the estimate is revi8ed where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Investment Propeilies are carried al fair value with a valuation being undertaken every yeai and freehold and leasehold properties are carried al fair value with a valuation being undertaken every 3 10 five years. The approach lo properly revaluations is on the basis of fair value IFRS 1021, in accordance with VPGA 1 ofthe RICS Valuation- Global Standards 2022 (The Red Bookl and UK GAAP. Fair Value is defined within the current Financial Reporting Standards as "the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market sector participants at the Measu￿Ment dale" as defined in VPS 4 Section 7 of the Red Book. For specialised properties valuations are on the basis of Depreciated Replacement Cost in accordance with FRS 102 Section 17 para 15D. This is defined as "the current replacement cost of an asset less reductions for physical delerioralion and all forms of obsolescence" 29 Sl John's College, Durham Members, Report and Financial Statements 31 July 2025 SFIo)HN'5 CuLLE(ik. L)URHAM 2. Grants & Donations 2025 2024 Grants Donats'ons 2,432,416 28,105 2,404,311 1,773,660 1,840,323 Analysis of Grants 2025 2024 Church of EngL4nd Sir Halley Slewarl Vardy Foundation John Temp￿ton Foundation Benefacl Trust William Leech Research Fund Relay Trust Tenylelon Religion Trust Binks Trust The William Leech Charity Orphan House Trust unI￿r$Ity of Birmingham Irelurn of UnUs￿j funds) 17,864 24.986 7.475 33.333 56,678 84.000 26.610 276,221 1,252,983 11,374 33,333 38,971 592,760 1,247,982 500,000 5,000 13.4941 2,432,416 1,773,660 3. Investment Income 2025 2024 Interest receivable DiiAdends from unlisted securities Rental income from in￿StMent property 116.694 25,896 93.677 107,739 25,413 95,208 236,267 228,360 4. Total Fees Income 2025 2024 Accommodation fees Tuition fees College fees Other fees 3,075, 305 1,099,266 621, 961 112,666 2,624,369 1.201,277 561,287 140,178 4,909,198 4,527,111 30 Sl John's Co15ege, Durham Members, Report and Financial Statements 31 July 2025 STIOHN'S CuLLELpk. DUIIHAM 5. Commercial Business Income 2025 2024 Conferences & e￿nIS Bar 263,349 100,114 318,731 105,066 363,463 423,797 6. Other Income 2025 2024 Recharges Other income 203,270 19,565 304,563 62.799 222,835 367,362 Recharges are the staff costs and associated office costs paid by the College, which are then recharged to funded projects. 7. Net Income Before Charges Are Stated 2025 2024 Afterchatying / (C￿di1￿n9J Depreciation Profit on Disposal of tangible fixed assets 25Q,437 12,400 272,D34 Auditors remuneration Slalulory audit of these financial slalemenls Other accounting sernd¢es 21,000 12,900 18,900 13,440 31 Sl John's College, Durham Members, Report and Financial Statements 31 July 2025 STIOHNI CULLÈL￿k. L)URHA 8. Expenditure Unrestrlcted De&gnated Fund8 Funds Restrlcted Funds Total 2025 Charitable expenditure Academic Student Supsy)rt Operations Major Repairs & Refurbishment Research Depreciation Interest Paid Go¥Einance Costs God & the Big Bang IlransfEr to external charity) 772,994 416.662 3, 104,415 58,302 612,844 631,296 1.039,175 3,104.415 436,eQ7 1.338.819 250,437 106,482 25,995 120,8 9,669 436,607 53,973 1,284,846 250,437 106,482 25,995 120.806 4.676,985 500,249 2,076.798 7,254,032 Cost of generatlng funds Commercial actiulies Bar 95,223 95,223 111.231 111,231 95,223 111,231 206.454 2024 Unrestricted Designaled Funds Fund5 Restrlded Funds Total 2024 Charltable eX￿nditure Academic Sludenl Support Opeialion5 Mapr Repairs & Relurbishfflent Research Depreciation Interest Paid (*vernance Costs 799.414 576,218 2,575,596 166,236 400,436 327,497 1.199.￿0 909,472 2.575,5g6 538,764 1,212,479 263,724 118,324 22,759 5,757 372,528 17,353 1.1*,126 263,724 118,324 22.759 4,522,272 395,638 1,923,059 6,840.969 Cost of generating fund% Commercial acliwties Bar 52,650 52,650 106,532 106,532 52.650 106,532 159,182 The College Bar operates under a Club Premises Licence for the benefit of the whole College. Operations costs include catering, housekeeping and facilities. 32 Sl John's College, Durham Members, Report and Financial Statements 31 July 2025 STI()HN'S CoLLEG&. LIIIIIHAM 9. Staff Costs 2025 2024 Wages and salaries Social security costs Pension Gosts 2,719,501 278.327 248,516 2,435,821 218,413 246,503 3,246,344 2,900.737 There were 4 employees12024.' 41 whose emoluments, as defined for taxation purposes. amounted lo over £60,000 in the current or prior year. The emoluments of these employees fell within the following bands.. 2025 2024 £60,0￿- £69,999 £70,000 - £79, 999 £100,000 - £109,999 Pension Contributions paid in the year in respect of the above staff were £38,08312024.' £40,612). The average number of employees, analysed by function, was.. 2025 2024 Academic Teaching & Related Staff Research Staff Sludenl SeDAces Staff Management, Professional & Support Staff Operations Staff Commercial Business Staff 15 16 12 13 10 41 36 87 85 The a￿rage number of full-lime eqUI￿lent persons employed by the College during the year was.. 72 72 Operations staff include catering, housekeeping and facilities. 33 Sl John's College, Durham Members, Report and Financial Statements 31 July 2025 s-fiaHN'.% COI.LkfJE. DIIIIHAM 10. Key management personnel Itrusteesl Members of the Council are the key management personnel of the Charitable Company. They are in charge ol directing and controlling, running and operating the Charitable Company on a day-lo-day basis. No remuneration was paid lo any of the Council Membets in the capacity of trustee5 during the year 12024.. nill. Six12024.' 61 Council Members received remuneration in total of £321.35212024.' £226.019} in connection with their full-lime employment by the College. The College paid contributions of £33,933 12024.. £26,5701 lo money purchase and defined benefit pension schemes in respect of 6 12024.. 6) Members of Council. Expenses of £3,396 12024.. £3,859) were reimbursed lo trustees during the year in respect of allendance al meetings, which represents payments lo 412024.. 51 trustees. No expenses were waived by the Iruslees12024. nill. There were no clonalions lo the charitable company made by the trustees during the year12024'. £4,000). 11. Taxation st John's College, Durham. is considered lo pass the tests set out in Paragfftph 1 Schedule 6 Finance Act 2010 and therefore il meets the definition ol a charitable company for UK corporation lax purposes. Accordingly, the charity is potentially exempl from laxalion in respect of income or capital gains received within categories covered by Chapter 3 Part11 Corporation Tax Act 2010 or Section 256 of Chargeable Gains Act 1992, to the exienl that such income or gains are applied exclusively lo charitable purposes. 34 wv Sl John's College, Durham Members, Report and Financial Slalemenls 31 July 2025 5TIQHN% COLLEGE. DUIIHAM 12. Tangible Fixed Assets Freehold land & buildings Leasehold land & bulldlngs Flttings & equipment Total 2025 Cost or valuation At 31 July 2024 Additions Disposals Transfers Rewdluation 13,555,000 4,465,444 219,228 18,239,672 1620,0001 1620,0001 Al 31 Juty 2025 12,935,000 4.465,444 219,228 17,619,672 Depreclatson Al 31 July 2024 Charge for year Released on Disposals Released on Revaluation 220,767 175,367 112,4001 21,2 55,254 118,484 19,816 360,451 250,437 112,4001 Al 31 July 2025 383,734 76.454 138,300 598,488 Net book valuo At 31 July 2025 12,551,266 4,388,990 80,928 17.021,184 Al 31 July 2024 13,334,233 4,444.244 100,744 17.879,221 The tangible fixed assets are used subsl8nlially for direct charitable purposes. Freehold land included above is not depreciated. The cost or valuation figure for land and buildings include-. Freehold land and buildings 2025 Freehold land and buildings 2024 Leasehold 2025 Le85ehold 2024 At valuation Stated at historical cost 12,445,822 105,444 4,388.990 13,228,789 105.444 4,444,244 12,551,266 4,388.990 13,334,233 4,444,244 The freehold and leasehold properly of the College was professionally valued on 31. July 2023 al £17,915,000 on existing use value for the freehold and lèasehold properties on the Bailey, depreciated replacement cost appraisal for the Learning Resource Centre and chapel of St Mary the Less, and market value for other properties, by George F While LLP, The Trustees have reviewed the properly portfolio in light of the rN8rket considerations which existed at 31 July 2025 and consider that the re5ullanl variations do not materially differ lo those in the financial stalemenls. 35 Sl John's College, Durham Members, Report and Financial Slalemenls 31 July 2025 STIONN% COLLEGÉ. DURHAM 13. Snvestment Properties At valuation Al 31 July 2024 Revaluations 2,750,000 1375,0001 At 31 July 2025 2,375.000 Net book value Al 31 July 2025 2,375,000 Al 31 July 2024 2,750,000 The historic cost of the above is £3,506,250 {2019.' £3,506,250). The investment properly was professionally valued by Terence Firrell Chartered Surveyors al £4,750,000. The inveslfflenl represents a 50°/0 share in the property. 36 E9V Sl John's College, Durham Members, Report and Financial Slalements 31 July 2025 S"IIOHN'SCOLLEGL. DUIIHAM 14. Investments Unquoted investments are repregenled by income shares held in the Central Board of Finan￿ of the Church of England Investment Fund. 2025 2024 Market value Al 31 July 2024 Additions Unrealised Ilossygain 950,547 885, 144 14,3391 65,403 At 31 July 2025 946,208 950,547 Cost Historical cost 206,307 2Cb,307 15. Stock 2025 2024 Bar and catering 13,611 14.950 16. Debtors 2025 2024 Trade debtors Prepayments and accrued income Other debtors 84,224 25,263 735 64,185 4,798 8,925 110,222 77,908 17. Creditors.. amounts falling due within one year 2025 2024 Bank loans Inole 181 Trade creditors Other creditors Other taxes and social security Accruals & deferred income 66,240 230,845 34,541 7,465 111,290 125,581 177,702 14,925 181,660 499.868 450,381 37 Sl John's College. Durham Members, Report and Financial Slalemenls 31 July 2025 ST IOHN'5CoLLEGE.DIIRHAM 18. Creditors.. amounts falling due after more than one year 2025 2024 Bank loans Equity sharing loan Other Creditors 1,588,540 620.000 103.935 103,935 2,208,540 Details of loans and security 2025 2024 Maturity- loans Aggregate amounts repayable.. 0￿r fikE years Between two and five years 1,943, 580 264,960 2,208,540 66,240 Within one year Inole 171 2,274,780 Equity Sharing Loans valued at £620,00012024'. £620,000) from the Church Commissioners in respect of the purchase of property for staff and student accommodation were repaid in full during the year on sale of the related properties. A mortgage amounting lo £2,000,000 was received in November 2018 in order lo repay existing bank loans and fund the Completion of the Learning Resource Cenlre. This loan was repaid in full during the year. 19. Called-up share capital 2025 2024 Allotted, called up and fullypaid 24 Ordinary shares of £1 each 24 24 There was no movement in called up share Capital during the year. 20. Financial Commitment5 Contingencies The Central Board of Finance of the Church of England made the following conditional grants lo Sl John's College which are repayable in the event that the College at any lime ceases to be a Church of England College, which is either accepting slLEdenls to read for degrees in the Faculty of Theology of Durham University, or is training students for ministry in the Church of England. 38 st John's College, Durham Members, Report and Financial Slalèmenls 31 July 2025 SI IOHNS Cui.LEÉJE. DUIIHAM Year of grant 1960 1961 1964 1974 40,000 1,163 2,215 3,000 46,378 21. Financial Instruments 21(a) Carrying amount of financial instruments. The carrying amounts of the financial assets and liabilities include: 2025 2024 Assets measured al fair value through profil or loss Assets measuied al amortised cost Liabilities measured al fail value IhroLJgh profil or loss Liabilities measured al amortised cost 946,208 84,959 950,547 73,110 1620,000) 11,920,166) 1303.2831 21(b) financial instruments measured at fair value Unquoted investmènts held by the charitable company are represented by income shares in the Central Board of Finance of the Church of England Investment Fund. The fair value of these unquoted investments is determined by reference to their quoted bid price al the balance sheet dale. The fund is administered by the CCLA (Churches, Charities and Local Aulhoritiesl Investment Management Limited. 21(c) Fair values The amounts for all financial assets carried al fair value are as follows.. 2025 2024 Non-derivatlve financial assets at falr value through profit a nd loss Unquoted inkeslmenls 946,208 950,547 39 Sl John's College, Durham Members, Report and Financial Slalemenls 31 July 2025 ST IOHN'S CuLLE(iÈ. DUIIHAM 22. Movement in Funds BalanGe Valuallon Expenditure G?iTr3llLos$esl l$ee noiel Trartsfets 8alanGe 31 July 2024 cotne 31 J￿Y 2025 Coll￿e B$r Legacy Pr￿laMm• Jthns Society M£jor Works & Relubishmenl WSC Research CeT*re Old tibr3ry R¢￿thsh￿e c£[L￿ ETnisSIOns Plan eoal Club Fund (Rwenuel (38.1141 3.815.287 10.432 427.931 31.046 14fj.620 25.wo 100,114 99,973 16,3991 (1501 1385,0691 153.9731 P6.5921 (24.9461 (2.520} 1375.0001 3,333,8fj1 8,682 342,862 8oD,o 250,0 370,7D8 3,616 Total de￿gnated lunds 4,217,892 209,583 1375,4001 650,000 3,990,995 Restrlcled funds C&nl&nary EndDwmenl Fund lan Cundy Memonal ECLAS Phase 4 The Evangelical Grathjate F￿1￿hIp Art & Artef8cI3 Eouippwng ChU￿h Le2dershlp Ruth Ei¢hell$ TheD1coy & LiieratuFe Fund Centre For Church Grwrth R&w¢ch Alphonse Mohapi SGhola(ship God Blg Bang Leech Hall De￿lOPment Fund Sludenl oP￿rtUnItIeS Fund $8,￿1 168,9611 587,213 65,893 3,978 2,0 78,765 6,401 1.510 128.879 7.851 108.410 6,941 27.765 3.149 26.965 9.252 719 15,392 10.419 823 7,031 172,3fj8 49,591 19,832 11,876 344,91S 1,669 7,243 3,494 1.247,98 11,223.3701 (2,0001 (2.1901 011.825 1.788 12.0931 3.653 82.418 611 (s,7￿) 857 513.815 7.706 1.200 1134,7361 6E.9B2 s￿.828 108,219 16,45DI 17.000} Da￿rt Wilkinson First Generalion Scholatshlp Bowron Bursary Freè Church Track Raymond Dfjw Fdlowship Duthatn Ap￿0getICs Friends ol Cranmer Ha11 LeadbeaterAccomm￿aliO￿A￿Sra si$tt Hardshlp IkKmeily HPl￿n9 Appeall NDwell- RoslioD Bequèst 21,785 3,149 30,581 9,252 719 9,8 6,419 823 33.258 129,642} 1,821 .4071 (2.0001 (1,0311 4,36 1.355 508 P.4(Ql 173.61S 57.753 20.255 11.878 350.989 1.669 2.243 Cranmer Vis11ing Fello￿EhIp FLmd micha￿ Vasey Metnonal Fund micha￿ Vasèy Legacy Scholarshlp Fund Chapel F?bri¢ Underground Story INBS Relay Ttusl Leetl Research Fellowship IRPI Gro￿1￿ Faith Learniry Hub Cranrner DegieeAppEnliceship Pioie¢l Peacebuilding & th8 Arts IBinks1 Peacebuilding- Photography & Ihe Arts ISTI Reliyioua PeaceMllding- ReligKJU5 Diama IPetTai Cotnmon Awards S¢edcom L8e¢h ResparGh Fèllovtship IFOI RMF Innow11Q R Robprts Pmtographk Comp8tilion P241 1831 7,031 8.78S 11,2501 15,0001 13.494} 592.760 14.883 15,8E4 1575,28BI PO,7881 17,0931 13.7501 9,954 7.093 7,28B 14,994 6,799 1,004 1,051 1,733 3,098 13.8871 1,470 12.998 18.744 8.710 10,544 1,0 2,0(Kl 24,088 19.540} 12671 120.9901 (2.6871 1,470 Total re*rfGted funds 1,810,994 I421.66D 12.076,79BI 13,0631 2,150,701 Endowment fund IncoTporallDg'. Rewlualion reseThe Erhd(yMneni funds Share capllal Unrestrictg(l.. acGumulatsd fund 5.123.160 302.761 24 11,705.048 1484,7761 4.858.384 3￿.211 24 fj2,363,448 7.726 11,2761 5.513,740 14,772,2081 183,1321 Total funds 23,1S9,879 8,152,709 17,460.A861 1379.3391 23,472,763 40 St John's College, Durham Members, Report and Financial Statements 31 July 2025 STIOHN'% CuLLEtiE. DUNHAfvI Comparative movement in funds 2024 Balance TFafisTets Expe￿11L￿¢ GansllLosse51 15ee nolel B¥l8nce 31 Jvly 2024 31 July 2023 Lle4gDatsd funds 136.e481 3,282,224 10,432 434,079 38,389 105.08 Ill￿,532) 13,2561 138.1141 3,615.287 10,432 427.931 31,046 146,820 25,000 13101 Legacy Fr￿[￿MMe J￿n5 SrKiely Majorw￿5 & Refwlyshm¢nl WSC Research Centre Old Libtary Refurthshmenl Carbon Emission$ Plsn Boat Clvb Fund (Rewiuel 225,000 136S,1481 (17,3531 (7,380} 359.000 10.000 4.000 IS0.￿0 25.wo P,501} TotAI deslgnated funds 3,728,486 232,S78 1502 170 22S,000 534,000 4.217,892 R8*lctsd funds CenleTrary Endovmenl Fund lan cU￿Y Memonal E¢LAS Phase 4 The E￿ngeli￿4 Gradual& Fello￿hIP Art & Artefatts Equipping ChLJrch Lead¢rshlp ECLAS Ptr￿se 3 Rulli Elchells Th801ogy & Liletsluro Fu Cenire For Church Growth R￿earch Alphons8 Mohapi Seholarshlp God & The Big Bang Leech Hall De¥¥lopmeht Fund Sludenl (￿[X￿lUn1IIeS Fu Boat Club {Capiiall Damd wilkins￿ Flisl Genemllon SchclaTship Bur$3iy Free Church Track l&ymond Dew FelloY&hip ￿)urt￿M Apologelies Nelwo Fffte￿S ol Cranffler Hall LeadiwlerAetommodalionAward Siaff Har￿sk￿P Iformgdy Fklp]nu Har￿S Ap￿1) Nuwell- R051ion Bequ£%1 82.752 1,737 4,472 e8.981 4UO.e6S 81.393 3.97B 2.093 98.807 79,273 27.505 1,510 285,955 7,144 120,222 5.741 21.025 3.fj49 21,627 9.252 71 1e.985 12.41 1,823 7,031 158,848 4S,126 18,046 11,876 316,247 1,6se 7.243 1,248,128 1,679 587,213 e5.893 3.978 2.093 11.5001 4.321 5,023 4,043 7.475 1101,6301 14,5SOI 128,5791 78.765 e,401 1,510 128,879 7,851 108,410 6,941 27,785 3.149 26.965 9.25? 719 15.392 10.419 E23 7.031 172,368 49,591 19,832 11,676 244,915 1.669 7,243 3.4 (7.5181 12.998 193.953 1g8 3.991 1,200 13.740 1351.0291 123.5651 7,782 ,0001 P8.0701 11,6431 12.OWI I1,or￿) 4.943 1.249 soo Cianmer Visilino Felloy￿hip Fwd MichaEI Vasey Memorfsl Fund Michael Vasey Legacy SGholarship Fund Chapel Fabnc iknd¢ioround Story INBS Relay Twsl Leech Re5eaich FelI0v￿h1P IRPI G￿VAn9 Faith Learning Hub CranrnEr DEgieeApprenliceship PfoieGI Pea¢ebulldln9 & IheArts IBinksl Religious PE#￿b￿lId1rt9- Rell9lous Drama IPetrdl 3,216 1,28E 8.722 (2.5001 22,446 4,187 278,221 26,610 4,136 20,880 11,974 51 18731 1283.7391 12,1061 12,6641 18.744 8.710 Total re&rl¢ted funds 1,806,017 1 872 U47 1.923,059 55,189 1 810.994 Endowment fund Incorporatlng.. Rwluaiion reseAe (vnd$ Sharg ¢4pltal Unrestrlcted.. accvmulatod fund 5.168.ÈY5 302.761 24 11,476.492 145.7351 5.123,180 302,781 24 1488,2851 11.7Q5.048 S,281,528 14.574.922) 10.214 Total fund¥ 22,482,675 7.386,952 7,000,151 290,403 23,IS9.Q79 41 Sl John's College, Durham Members, Report and Financial Statements 31 July 2025 ST IOHN% C(JLLkGE. DIJRHAM Transfers between funds 2025 2024 From General Fund.. To Major Works & Retuibishmenl Fund ie allnual allocation for relurbishmenls Tci Old Library Relurbishment Fund To Caibon Emissions Plan Fund 1300,0001 1250,0001 1359,0001 1150,0001 125,000} 1550,0001 1534,0001 Pur oses of Funds College Bar The College Bar operates under a Club Premises Licence for the benefit of the whole college. It has been incorporated into the College accounts since AugLJsI 2011. Legacy Programme Unreslricled funds received through the legacy programme have been designated by College Council for use in the following areas.. Maintenance & refurbishment of the College buildings Provision of student bursaries Support for Cranmer Johns Society Funds transferred to Sl John's College on the closure of Johns So¢iely as a separate entity. Funds aTe used lo support alumni events. including the annual five-year reunion. Major Works & Refurblshment An annual allocation from General Fund to ensure a continuous cycle of refurbishment works on the College buildings. WSC Research Centre Funds transferred lo Sl John's College on the closure of Wesley Study Cenlre, lo continue Methodist research and networking and lo cover the cost of employing the WSC Director. Old Library Refurbishment An allocation from General Fund for the refurbishment of the Old Library as a decant space, for leaching worship and creative arts, as a facililalor for the wider Renewing the Heart of the College project. This is overseen by the Estates Committee. Carbon Emissions Plan An allocation from General Fund to support the delivery of the Carbon Emissions Reduction- Action Plan. This is overseen by the Carbon Emissions Reducfrion Action Plan Working Group and the Estates Committee. 42 L4 Sl John's College, Durham Members, Report and Financial Statements 31 July 2025 ST I()HNS C(JLLF.G& DiJRHA Boat Club Revenue The College Boat Club is a functional element of College and the fund operates as an operating account for the day to day running costs of the Club. It has been incorporated into the College accounts since August 2023. Centenary Endowment Fund This represents donations raised by an appeal to raise funds lo establish a permanent endowment in the College. lan Cundy Memorial Donations received lo fund an annual lecture in memory of lan Cundy. ECLAS (Equipplng Chrlstlan Leadershlp In an Age of Sclence) Phase 4 This is a grant from the John Templeton Foundation for a five-year period from April 2023 to December 2027, and builds on work carried out under previous projects in this area. In this phase the research and engagement project will be working alongside four regiona5 partners from around the world. The Evangelical Graduate Scholarship To provide scholarship5 for international poslgraduale research students in the Department of Theology and Religion at Durham University. Art & Artefacts This incorporates a donation given towards the purchase of a new cross, together with further donations intended lo be used for aesthetic purposes. Equipping Church Leadership This was a grant from the Templelon Woild Charity Foundation, initially for a Ihree-year project lo be completed in 2017-18. which was subsequently granted an extension lo the project for a further year. ECLAS (Equipping Christian Leadership in an Age of Science) Phase 3 This was a grant from the Templelon Religion Trust for a Ihree-year period from January 2020 to June 2023, and builds on work carried out under previous projects in this area. Ruth Etchells Theology & Literature Fund To further within the College the fruitful relationship of theology and literature through research, visiting fellows, and undergraduate participation in questions of theology and literature. Centre For Church Growth Research The CCGR conducts research into church growth and decline, holds conferences on this subject, produces publications and encourages poslgraduale study in this field. Alphonse Mohapi Scholarship To fund a sludenl from Lesotho to attend a postgraduate course at Cranmer. God and the BITg Bang A project primarily funded by John Templelon foundation with the aim of working with students from nine to eighteen years of age on the theme that science and religion are compatible. 43 Sl John's College, Duiham Members, Report and Financial Slalements 31 July 2025 ST IOHN'sCui.LE(iÈ. L)IIIIHAM Leech Hall Development Fund Established in the year 85 the start of a major fundraising campaign to fund the redevelopment of Leech Hall and surrounding spaces lo provide an up lo date central hub for the College. Student Opportunities Fund Relief of hardship and monies lo enable participation in the full range of opportunities that might otherwise be closed lo students with limited means, so as to enable enrichment of their university experience. Boat Club Capital Fund A campaign by members of the College Boat Club to raise funds lo update boats owned by the College, lo contribute to the maintenance and upgrade of the l)oalhouse. David Wilkinson FITrst Generation Scholarship To profflole widening participation and access by providing accommodalioll scholarships for students from first generation, BAME and lower income backgroLJnds. The Bowron Butsary The Bowron Bursary Fund is a travel bursary funded by David and Helen Bowron, to be used for Christian overseas relief work by members of Sl John's College, Durham. Free Church Track Fund To support the delivery of academic programmes for students training for leadership within the free church tradition, and in particular lo contribute towards the employment costs of the Free Church Track Director. The Raymond Dew Fellowship To provide a residential fellowship leading lo the publication of a book exploring the dialogLJe of science and Christian faith which would be accessible lo the general reader. Durhan7 Apologetics Network To support an annual day in Apologetics shared between the College and local Durham churches. The Frlends of Cranmer Hall Fund This fund aims lo help ordinands who find themselves in financial hardship during their lime in training. LeadbeaterAccommodation Award This fund was established by a donation in memory of Gordon Leadbealer and aims lo promote widening participation and access by supporling prospective undeigraduate students from low income families lo live in Collegè ￿n their first year. staff Hardship Fund (formerly Holping Hands Appeal) To support staff and students who are experiencing financial difficulty caused by the COVID-19 pandemic. Nowell Rostron Bequest Nowell Rostron Bequest is incoiporaled in the Cranmer Visiting Fellowship Fund. 44 St John's College, Durham Members. Repoil and Financial Slalemenls 31 July 2025 SrluHNI CvLLÈLi& t)UKHAM The Million Shilling Fund The religious education of evangelical students at St John's College, having particular regard lo benefiting the children of clergy. The Cranmer Visiting Fellowship Fund To defray the residence, study, and travel costs for one term lor more if funds allowl each year of a Cranmer resident fellow with an academic profile and record. A Visiting Fellow will be active al research level or in the public communication of the Christian faith and will give al least one public lecture and one seminar. The Michael Vasey Memorial Fund To provide for the costs associated with the annual lecture on the subject of Church LilLJrgy. The fund was established in memory of Rev Michael Vasey, Tutor in Liturgy al Cianmer Hall. rhe Michael Vasey Legacy Fund Michael Vasey's will slipulaled'to promote the Christian purpose for which St John's College is founded and for the furtherance of the theological education al Sl John's College. The Scholarship Fund The Scholarship Fund has two aims.. to provide access awards, in-course bursaries and personal development awards to support students lo make the very best of their lime at the University, bul who may olhetwise struggle financially or be prevented from Accessing all opportunities available. to fund a post-graduate scholarship. The Chapel Fabric Fund Donations received from a campaign to raise funds for the repairs and upkeep of the College chapel. The Underground Story Visiting Fellow, the Revd Brian Brown has produced a series of Children's books telling stories from the gospel. The College is a partner for the delivery of this project. INSBS A grant from the International Research Network for the Study of Science & Belief in Society IINSBSI for an existing researcher for the purpose of exploring and mapping STS approaches to science and belief. Relay Trust Funds provided by the Relay Trust for the overarching purpose of addressing barriers to Iheolo9ical leadership training in the North East. This is to inclLJde bursaries towards domestic tuition fees as well as contributions towards catering and accommodation costs for students, awarded by the bursaries panel. The Relay Trust also provide funding towards two staff roles, the Lead6rship Training andAGGess Officer and the Leadership Training ancl Acoess Assistant. Leech Research Fellowship Grants awarded by the William Leech Research Fund lo support researchers engage in research in the area of Christian social ethics and practical theology in the North East. 45 Sl John's College, Durham Members. Report and Financial Statements 31 July 2025 ST IQHN'S CoLLEQiE. DUftHAM Growing Falth Learning Hub Funds provided by the Growing Faith Foundation lo support the creation of a learning hub for training and research into Growing Faith al Cranmer Hall. Cranmer Degree Apprenticeship Project A grant by the Projecl 30k Board, on behalf of the Archbishops, Council, lo explore the development of a Degree Apprenticeship in Church Ministry with Children and Young People in 2024. Peacebuilding & the Arts (Binks) Grants awarded by the Binks Trust to support an experts, workshop and publication on 'Peacebuilding and the arts, Peacebuilding- Photography & the Arts (STIJ Grants awarded by the Social Trends Institute to support an experts, workshop and publication on 'Peacebuilding and Photography.. Religious Peacebuilding- Rellgious Drama (Petra) Pea￿building Petra provides support for work relating lo work on Peacebuilding through the Media, ATIS and Religious Drama. RMF Innovation Funding of a foundations 1-year course which aims to give an introduction to theology for lay people leading new worshipping communities. R Roberts Photographic Competition Donations lo fund the annual photographic competition delivered jointly with Sl Chad's College. 46 Sl John's College, Durham Members. Report and Financial Statements 31 July 2025 ST ItsHN'SCvLLE6E. DIIIIHAM 23. Commitments under operating leases There are no operating leases. 24. Prior year comparatives by type of f unds - Statement of Financial Activities Endowment fund, revaluation reserve and Share iapital UnrÈstliCted Desl6nated funds UnrÈstrlded General fund funds Total 2024 Notes Income Voluniary income Grants and t)onations Investment income Income f¥om charitable 46,572 91555 1.789.750 25.486 L840.322 224360 111,319 Total fees income Income from othertradin8 4527.111 4,5Z7,111 Commerclal business income RechaiBes otherincome 318,741 294,563 2,997 105,066 lo.a 2,191 423,797 304,563 62,799 57,611 Total incorne 5,281,529 232,576 1,872,847 7.386,952 Expenditur Expenditure on charit3ble activities Cost of ÈeneraiinE funds 14.522,2721 1395,6381 1106,5321 11,923,(591 16,840.9691 1159,1821 Total expenditure 14.574,9221 I￿1117 11,923,059) I7.[￿,151) investments GainllLossl on rev3luatlDn uf Investment properly 14 10,214 55,189 65,403 13 225.( 225,QiKI Net incomellpxpEnditurel before 716.811 1534.(MKII 144,5941 534,(KKI 4,977 677,204 Gr055 tran5fBr5 between funds 22 Net incomellexpendlturel before oihercomprehensive 8ain5 and losses Gain/lLossl on revaluaiion of tangible fixed a5setS Nei movemenr In funds forthe year 182,821 489,￿5 4,977 677,204 12 181821 489,406 4,977 677,204 Fund balances brought foiward Transferin respect of depreciatio charged on revalued fixed asset5 Fund balances carried forward 5,47L6F 11,476,492 3,728,486 1,806,017 22,48L615 22 145,7351 5.425,945 45.735 IL705.(b18 22 4,217,892 1,810,994 2¥,159.B79 47 Sl John's College, Durham Members, Report and Financial StElemenls 31 July 2025 STIOHNS CULLELE. DURHAM 25. Analysis of net assets between funds Ertdowmenl tund. ievalualion Unreslricted re5ene and UnresliiGled fk5ignaled share capilal General fund funds RÈslrfcled fijnds Tolal 2025 TBngible fixed 35sels Investment propertie5 In￿$t￿entS Cash al bank and in hslld Other nel C￿r￿n1 asselsllliabililiesl Creditors falling due after more than one year 4.967,619 12,053,565 17.021, 184 2.375,000 946,208 3,610,341 1376,0351 1103,9351 2.375,0(NJ 235,367 554,486 1376,0351 1103,9351 710.84 1,439.860 1.615,995 4,967,619 12,383,448 3,990,995 2,150,701 23.472,763 Comparative 2024 Endovmenl fund. revalualion rese￿ and Unreslricl share capital General fund Unreslrlcled DesvJnale funds R8stric18d nds Total 2024 Tangible fixed as5els In￿Stment properties In￿StmentS Cash al bank and in hand 5,425,945 12,453,276 17,879,221 2,750,000 950,547 4,146,174 1357,5231 12,208,540) 2,750,000 112,726 1.705.109 1357.5231 12.208.5401 837,821 973,173 1,487,892 Creditors falling due after MO￿ Ihan one year 5.425.945 11,705,048 4,217,892 1,810.994 23.159,e79 26. Related Party Transactions The College did not engage in 8ny related party transactions in the current or prior year. 27. Contingent Liabilities The College parlicipales in the Universities Superannuation Scheme IUSSI pension scheme. As al the year end the College had 15 active members within the scheme 12024.. 11 active members). The scheme adminislralors estimate that al 31 March 2025 the employer debt on withdrawal from the scheme would be £36,000 12024". £275,000). The debt would only cryslallise upon the complete withdrawal of all members from the scheme. This is a significant reduction from the estimate as al 31 March 2024- this rellecls changes in a range of conditions over the year and is broadly consislenl with other Section 75 debt calculations we have seen. The College historically participated in the Church Workers Pension Fund pension scheme with the last employee in the scheme leaving in December 2021 al which point a S75 debt cryslalised of £272,900. This debt was deferred and has subsequently been revalued al zero. The College has agreed a legal agreement confirming there is no liability for this scheme. 48 Sl John's College, Durham Members, Report and Financial Slalements 31 July 2025 s'rioHNSQ)LLEGE. DURHAM 28. Analysis of Changes in Net Debt At1Aug24 12,208.5401 Cash Flows 2,208,540 66.240 2,274.780 1535.8331 At 31 Jul 25 Long terrn borrowings Short term borromnngs Total Liabililies 12,274,780) 4,146,174 Cash & Cash equikelenls 3,610.341 1,871.394 1,738.947 3,610,341 49