REGISTERED COMPANY NUMBER: 08331303 IEngland and Wales) REGISTERED CHARITY NUMBER: 1151444 Roport of th• Trustèes and Flnanclal Slatemènts for the Year Ended 31 August 2023 for Exetor Cathedral School Haines Watls Iweslem) ￿mited statutory AudTtors 3 Southernhay West Exeter Devon EX1 1JG Exttèr Cathodral School Contents of the Financial Stst•ments for the Year EndÈd 31 August 2023 Pag• Roport of the Twstees 1 10 18 Report of the Independgnt Auditors 19 to 22 Statement of Financlal Aclfvltles Statement of Financlal Position 24 statemont of Cash Flow$ 25 Not9$ lo lh8 Statement of Cash Flt 26 Notes to the Flnanclal Statsments 27 10 39 Exotsr Cathadral School (Reglslernd number.. 08331303) Report of tho Trustees for the Year Ended 31 August 2023 The Trustees (Governors) who are also directors of tho charltable company for the purposes ofthe Companies Act 2006, present their annual re￿t 8nd audited aC£￿nts. the finarrial statements. for th@ year onded 31 August 2023. OWECTIVES AND ACTivrriES The charitable ot4.ects ol the company are to promote and wowde residenlial and non-residential schools lor the advancement ol education 8nd the advancement of reli9ion in accordance the practices of the chU￿h of England for the bengfit of the public and of the ckn8ters of Exeter Cathedral by provlding facilrtias for their 8ducatlon, The Sch¢Jol provkles thodsters for Exeter Cathedrdl and tt)eir role features in the public life ol the city ol Exeter and th6 County of Dèvon., the Cathedral Is the main placÉ of eÈkbraUonlcommemorabonlgathering for the City. The choristers play a part in an imtNJrtant puiAic $&TVi￿ In the buildlng ol the comrnunity in the cty and making the heritage of which the Cathedral is steward available io more people. The choristers are both the fundamental reason fu the School and their most unH4ue featu￿. Th• Schoofs Vl¥lon and the Statsment of Aims The Hè8dmasler and the Board have published a r&ised Vision and a revised Statement of ￿rnS for Ihg School to help shape the fLrtUTe directi￿ gnd Strateg￿ devel(wment of the School. These are reproduced below. Vl$lon To b? the School of cholce for famil￿ in tha Exetsr area who want a first4la38 al*iund education for thelr ¢hildren aged 3 to 13. To bo recognised locAlly and natK)nally as a beacon of musical ox¢dlenrA. Exetèr Cathedral School 15 an Anci8ntfoundatityI wlth Tradiuonal values and 8 Modem approath. Tha School seeks lo= Be a happy and purposefvl Community wh￿e peO￿e matter. Promote the central importance of the daveknpment of character. Be a place where chddren can be children, vtherft leamir#J- in all tts loms- is takèn seriously. and where 8ach and every thild is known and valued as an individual. 0￿er a first-rate alkround edl1catm￿al exparieft￿ wh8re the focus 15 on developIr￿ the child. Our job is lo work with famili&s to help our pupiLs acquir8 ihe righl habits life. Foster a supportive, purposeful, sbmulab'rE and gw)tty£hristian envlronment, In which the followlng provision to pupils is rgcts3nise(J as b8iftg paramount and held in high regard: Academic rigour Exceptional pastoral (xr8 and PUFMI w8llbelro Bright and modem faci1it18s A broad and exctting rarvJe of extra-curricu￿[ activilies A h￿h-CalIbfe 8Wrting and wèllbeing educatio A worldrt Visit trom the Independent Schools InspeLtOTale. followlro a matter of procadure that was Inr￿CtlY handbd by a governor. Thg ins￿ctorS consaquèntty conduded that thè School did not meet all of the regulatory standards. The School moved quickly to reetrfy Ihesg failu￿S in govemance, and a subseqknent PTrxJres5 monitoring inspection after the year end has confim)ed that these standards are all fully met. Page 3 Exgt•r Cathtrdrnl School {Reglstsr•d numbor. 08331303> Report of th• Tru$t•es for the Year Ended 31 August 2023 OBJECTIVES AND ACTivrriES Stafflng Appointments The School's strategy to Continuously imprDve the quality of pupils. aGhievements and the qLJality of pupils, personal development. ak)ng with th8 opai8th)nal capa￿ty and efficiency of the School. has been further assisted by thfj appointment of some high3nitionl. Staff w81lbe1￿ and W0￿09d continues lo t¢ a starKling item al wee￿Y SLT meetings and at Pastoral Board. Page 4 Ex*ter Cathedral School (Registerod numbor. 083313031 R*port of the Trusto•s for tho Year Endod 31 August 2023 OBJECTIVES AND ACTivrriES Pupils Pupil wellbein9 continues to be a fO￿S for the Schod, overseen by the Deputy Head PLJpils and facilitated through the Heads of Section and th8 fomi tutor syEtem. Ajongside assambHes and PSHE lessons, forrn tine is a kay opportunity each day for pupils to socialize and 'be' rather Ihan'do.. Head's assemblies tak8 place In the ¢athedral qulrg and begin with a perDJ of stillness ar*J rello¢tKffi, encouraging pupils lo devalop an apprwatK>n for 51illness, silence, medttative wntemplation, and 5piriluality. Where the ¢athedr81 has not bèen available Imalor prdect work5), SChts￿ spaces have been used. Thè Sch¢yJl continu88 10 6mploy iwo quallflod IRCN-règister8dl Schrx)l Nurses lo help18ad and m8n898 thè physlcal and mental health of the School community. Pastoral StNcture SecliDns within the S¢hool- NLbrsery, Pre*rep. Lower Years, Upper Years- continue 10 8ssisI tho School in ensuring the delivery ol first-rate and age-sp8cific pastor81 (are land support for pupils, parenlslguardians and staff). Heads of Section en5ur8 effectbve firt-management of the SchcM)I'$ fomi t8achersltLrtors. age- appropriate and tailor-made pastor81 Care. are an add￿c￿al port of call for parents and famllies. A Chorister Tutor- a newly4nodelled roie in the mcld of Head of Departmenl - oversees the wellbeing and workload of the School's Chori51ers. Tho Head of Boarding does the same for the School's boorders, along with the Boarding House Mptron. The Sthool Nurses are an additional wjint of contad for pupils (and staffj wishlng lo talk aL￿ut their mental and emotional health. An Independent ￿$tanar is apKy)intwJ bylhe Sethcd. She holds a S¢￿￿1 mobile phone whlch number 1$ shared with pupils, in partlcular tho boarders. AssemblylFomi Time Programme Wlth the new 2-W8ek timetable in place, th8 AsseM￿y1F0rM Time programme hos been enharK8d. Pupll now have d8dicaled pastor81 contact time each day, exl8nded Forni Times 3 days a waek, a sectional asg8mbly andlor hymn practic8 èach week. a Chaplain's assembty eath wegL and a wholè-school Head's Assembly once a fortnight. Chorlst8rs Choristers see the Ckjrister Tutor each day and j(Nn Iheir fiKm lor Fomi Time each week The Chorister Tutor conlinues to ensur8 a ckjse eye (￿ the welfare, pastor81 care, communlcatlon, workload and logistics p8rtaining to ch￿iSterS. Weekly meetings continue to take place befvleen the Departm8nt of Liturgy arTrd Music and the School. These are altended by the Cathedral's Director ol Music, Assistsnt Director of Music, Precenlor. Deputy Hèad {puFyls) and Chorister Tutor. S8feguarding, welfarelwellbeing, logistKs and communIcat￿)n are discussed each waek. Academic Llfe Timetable The SGhool introduced a 2-week timetable for 2022-23. Week A and Week B now operate, and su¥ect allocations have been re-aligned thr¢)ugh ￿Sur(atIon with Heads of Dep8rtment. Currlculum Developm•nt Reflecting the School's conNmitmenl to a broad. baLqnced and folward-thinknng exciting academic provision, our currlculum has been reinwgorated dtsring 2022-23 tho folkswn9 inTtiatives: Perfom)anc8 Idramal has btsen added to th& timetsble for 8ach Prep year-group. Spanish is now in place for all pupils from Year 6 {followng its successful intrcxluclKJn into Year 7)- PE is embedded In the limelab1e for KS3 pupils as well as the resl of the SKMx)l. Page S Ex•tor Cathedlal School IReglstor•d numbor.. 083313031 R•port of thè Tru$tees for the Year Ended 31 August 2023 OBJECTIVES AND ACTlVtriES Yéars &5 ni￿ follow the model successfvlly intrrxluced at KS1 rKeviously". classes are taught S8parat&ly by their class lead)er (Form Tutor) lor corè curriculum suLyects, wllh ¢L￿e8 within a year4Jroup coming together for Ihelr ¢realivè ar￿ tople-based eurriculum suble<*s. This prforitlsey small group leaming optx)rtunilies for Matt)s. English and Science and allows for greater Colla￿rnt1￿ and tyeatl￿ty opportunities in groups of c24 in the afteTnoons. PSHE & RSE PSHE has baan intrcduc8d as a stand-along lesson gmbeddgd in the timetable. Head of PSHE & RSE overse88 a spiral curriculum. Syllabus The Sch￿1 ¢onlnues to embrace the best parts of the Common Entrance syllabus. Having m8de the decisK)n lo move away from the all-or-nothing 13+ exam, the ￿001 redeveloping its Schemes of work. Academic rigDur and quality content is retained thrc4Jgh highquality teaching and a robust curriculum. A final public exsminalion is no tonger relevantfor OUT pupils.. the Spmg balch of papers was sat by puplls, wlth the Summer batch offered to those who wlsh8d lo slt ihem Instead. Exam Success The School has enjoyèd anolhèr year of academi¢ suctes8. The final C¢ynmon Entrance exam for puyLs in Yéar8 was optional this year, all pupils hawThJ already secured their places at sonioT school. Papers were sal by all 13+ puplls.. etherthe Sprlng or Summer batch of Ccxnrnon Enlrancg papers. All papers were maTked in line with Common Entrance requirements and grade boundaries. 13+ exam results in 2022-23 were p05itNe and reflect excellent value added for the ￿hOrt.. 39Vo of all papèrs warè gradad A"_A 82 of all papers were graded A'-B 980/0 of all papers were graded A"£ 1 OOYO of papers were graded A'_D Scholarshlp Rèsults Th& School anjoyad notab￿ 13+ scholarship succ8ss. 36 ScFKTrlarship8Exhibitions were awarded by senior schools lo our Yèar 8 Cohort of 31 purmls. 65% of all ￿avers recenied a scbK>13rshipl éxhibitionlaward. wlh 85% of schotarship applicants being successful. S¢holarshlpslexblbitk)nslawards were offered in MuslcJCknVOrgan, A(alemlG Swrt, DramalPerforrning Arts, Art, FoundationlHead'slA1141ounder. Destlnation Schools The School has contlnued pyomcrtbn of 8 broad and appropTiate range of senior schocI5 and has contlnued lo focus on findlng the flght schwl f(x ?a¢h chiK1. 97°A of 13+ thvers transitioned to an independent sc￿01., 3% lo slate-mainlalnsd sch(x)b. A]1 pupils achieved their first-ehoice s6nior school destination- Blundell's, Downside School, Exeter School, Marlborough College, Maynard Schoc4. Queen's Cdlege Taunton. Shert)ome. well1￿10n School. Wetls Cathedral School, Wesl Buckland SchooE. Acadèmlc Data The School continues to make use of GL A&8essment. Indudlng CAT4 testing and PIE and Pim. CAT4 sc￿eS continue to be obtained through assessments in Year 2. 5. 7, arKI yearly PihA and PIE data 15 rxllected across the SGhDoI. Data is used to Ix)nlinue lo improve Ihe S(knd's tracking of pupll pgrformance, ils underslarKJing of pupil ability, its monV(oring d staff perfomwlce, lo assist with ils commitment to an individualised approach to learnlng. The data is a150 useful for senior school choices and referen￿ writing. Page 6 Exet8T Cathgdral School {R•glstored nunknr: 08331303 Report of the Trustges forthè Yaar Ended 31 August 2023 OBJECTIVES AND ACTNrriES Senior Enrt¢hfflent Programme The Senior Enrfchmenl program￿ conunues lo provNJe our oldest pupils ￿th dadlcated lime lo undertak8 enriching nonArena'. 8nd Victori8 ParkTennK% Club. All of Ih8$e first-rate venuès are a few moments away in one of our minibuses, allovjlng our pupils and stsff lo make the most of the best sporUTrJ facbllties in the clty. Sportlng Succe$s 2021-22 ECS pupils eamed r8presentatsve horwrs at county ￿Ve1 in Tennis Hockey Cricket Wsterpok) Gymnasti< Two puplls ware s818cled for tha Nat￿nal Prep Sthoois Athletlcs Finals in BiTmln9ham. Musl< Drama and thè Arts Muslc is central lo the lrfe of ECS. Founded as a choir school In the 121h century. and as ffle of todavs 42 Cathedral S¢hooLq in th8 UK ECS has rnusic and music-making at Its heart.. it Is in the wans and in th& blood. To this day we om known for th breadth of muslcal opportunity that we provide, and for being a schod whlch prownotes'music for all, whllst all the while providlng high-callbre training and opportUn￿eS for our most gifted elite muslaans. Muslc at ECS Is elite but not elitlsL The hub for OUT muslc-making is KalerKlar Hall, a studio space, cIassroom and practice rooms fDT rehe8rsal5, ensambles. productions and pertomances. We are also proud to make use of the Cathedral Nave as a regular lar,d spectacul8rl perform8nee space for our i#￿sCa￿ re￿la15 and concerts. as well as tapping into the City's leading professional perfomiance venues for our major prcductions and perf(￿rnances. Our annual Prep School House Music Competition takes place in our nevJhbourirng local church.. and more intimatè recitals, soloisis, evenings. chamber concerts arKI our Perf0M￿rS Piattomi Serles lake place In the Chapter House. Kalendar Hall and the Cathedr81 Quire. Some of our most gifted pupil musicians are Cl￿sterS but by no means all: we are prwd that music scholarships and awards lo some of the CoUnt￿S leaduig seniorlpublic schoo15 are won by Choristers and Non-choristers alike. Children acros5 the School are 8ncourag8d to GTeate, to preténd, to imagine. and to have the confidence lo act out and perfonn. Our Nursery and Pre-Prep children all take part in one of our Nativity Plays, and opportunities for storytelling, rol&playing and Imaginalive play featurg heavlly In our EYFS and Key Stage 1 curriculum. In th8 Prep School, all puplls recgive Drarna tuthon through our Perform3nce Curriculum, and Drarna and Poety Clubs are on offer after-sch(¥￿ to those whose appetites have beèn whetted. In addition, our weekly Senior Enrichmeri I Programm8 allows our oldest pupils to delve into an extended Drama course.. those with scholarship aspirations T&ceNe speualist tuition to halp them prepar8 for Drama or Perfoming Arts Scholarships to Ihair senior schwl of cho￿. Page 9 Exeter Cathgdral School {R•gl$tgred number.. 083313031 Report ot tho TTUStees for the Year End￿ 31 August 2023 OBJECTIVES AND AcT￿￿lEs En$gmbl&$ and Pgrformances Music ensembl8s: H811 Hou88 Singers. Year 34 Cholr, Year &6 Ch(Mr. Year 7-8 Choir, R8eorders, Arco Ensemblo. Orchestra 1, Orchestra 2, Flulopla, Guitarmadillos, Jazz Singgrs, Jazz Band, Band, S¢hool of RoBk, Boom WhackÉr8, Bash Stroel KKI8, Red Hot Chlll Pr¢ppgrs. Rhythm Musl¢ & Drama Perforniancg Opportunltles In 2021-22: Performers, Platforms x 12 Cathedral Services Autumn Concert Icalhedral) 32 Annual Charity Concert Icalhedrall Jazz & Rock Night (Exeler Phoenix) Orch8stral and Chamber CDn¢grt 1st DavKI'$ Church) All choif5 perforrned at Speech Day Icath8drall Whole-Sch¢Jol Carol Sèrvir Pre-P￿p nauvities Year 3 poetry and drama 8venlr#J Yoar 4 prI￿UCtiOn.. Tha BFG Year 5 pwiuction.. Goth Gi Year 6 productlon.. A Midsummer Night's Dream Year 74 production.. The Show Must Go Onl Poelry by Heart IntemBJ rwnds and finals 9vening Class Musle Lèssons Class music lessons are delfver&l to every pupil across School. from Roception lo Year 8. by on8 of the School's mu8ic specialists. Each pupil in the Schcd from Receptiw to Year8 re￿iveS wèÉkly Class Muslc lessons. In$trumontal Tuitlon Instrumental lessons are very popular among ts wpils.. In 2022-23 over215 muslc le&son8 have taken place èach week. The S¢hool ￿nerrtS from the eXpe￿se and experierKe of a number of Visiting MUS￿ Tea¢hers, and offers pupils 1-2-1 luilion in the followng Instrumants.. Violin, Viola, Cello, Clarinet. Saxophone, Flute. Oboe, Bass￿n, Percu55ion. Brass, Guitar. Voice, Recorder, Harp, Piano. Muslcal HonouT5 The School is proud to have a number of pupils playinglsinging in knal, county and national ensembles (including the Devon county Junior 1￿Chestra and Devl￿ Youth Symphony Orchestra and lots of participation In tho Davon Performlng Arts Competilionl. as well as to educate the Choristers ol £xeter Cathedral. ABRSMrrrinity Examlnation results During thè 2022-23 year, Associated BDard 8xams and Trinity co1￿8 exams took pl8e8. We wgre delightgd lo wlurn another successful sot of results.. 1￿% pass rate. wth 80% I￿Ing graded Merit or DistSnctiDn. Page 10 Ex•tgr Cathedral School (R•glstergd numb•r. 083313031 Report of the Trustees for the Yo)r Ended 31 August 2023 OBJECTIVES AND ACTIVITIES Chorl$tars The Choiisler continue lo play a signrficant role in the life of the Schcol. the Calhadral. and the Mder communtty. They slng tho daily sung services in the cath￿s￿al as well as ELtharist on a Sunday moming lin total, 7 services). Duties are split routinely atKI fall to oither Gir15 or Boys. Al th? end of thg 2022-23 academic year. Choristers in Year went to Wabs and Ireland on tho Cathedral Choirfs Tour. The lour was accompanied by 2 Tnembw3 of ￿￿￿)1 staff (Chorister TLrtor and Headl, had delegated responsibillty for the safeguardlrvJ and chaperoning of the pupils. Weekly wtsifare meetings contlnued between th? Sch￿￿ and the Cathedral lo ¢Jiscuss Chorister wellbeing, safeguarding, loglslics and communication. Atter*ing the meetings are the Chorister TLrtor. the Deputy Hèad (pupils), Ihg Cathedral Director of Music. tho Assistant Diroctor of Mustc. th& Canm Precenlor, Ihe Chief Chapgrona. Pupll Volc• and Dlversity The School Is in its second year of having a dedicabj member of staff to oversee both Pupll Volce and EDI.. H8ad (rf Pupil Voice & Diversity. Great lengthg ar8 gone lo ensure pupils know how they can makè their voice heard if they think something is wrong, and our school culture of kindness. awarenes5. acceptsnce and tol¢r8noe 1*4e are a place where people mallerfl underpins OUT 8xpectalvJns and our interackns. A You said. we did, display Is now vislble in the heart of the school. as is 8 Black Livss Matter display. to vthkh pupils contribut8. Pupils know how to us8 th6ir vcmce lo make themselves heard. and that th&y wil a￿layS be listèr*d to. Thèra ar8 now 4 pupll ¢x)uncils. ¢ath chalred by purlls wlth th8 SUPFrfJrt ¢Atho Head of Pupll Vol¢9 & Diversty lor Hgad of Bo8rding}'. School Coun￿1 Eco Council Food Commttt8e Boarders, Counol Pupil represenlalives were elected lo thesocommiltees eac* fomvdass. including Year 2 pupil$ (ensuring that pupil voice in the Pre-Prtp is heard. A PU￿1 Leadership wsl- Head of Pupil Voice- was he￿ joinuy by Year 8 wpils. In addition. pupil panels played a part in many starr ap￿intMents. Celebrating championing diverslty has been an impK)rtant f¢xus lor the School this year. Forrn time a¢llvlties have taken pL4ce as well as assemblies and Idks. indLJding frC￿ Proud 2 Be. Pupll Lèad•rshlp Two Heads of Schod were chosen by the Head fdlowing appLutr>ns from pupils and consuftsti)n with 811 Prep staff. Two Daputy Heads of School were also aptx)inted folk)wirKJ the same process, along with a team of prefe¢ts. For the second ye8r In a row, prefeds were appointed on a termly ba*& allowing all those who wshed to experfence a leadership opportunity to be Sn post throughout Ihe year. other Pupbl badershlp p081s includ8d Senior 808rder3 and Heads of PLwiI Voic8, as well as swrts captains, senior choristers, and leaders of the orchèstra. Wrap.Around Care The School is in its second year of ils enhanced WraKAround Care provision. Page 11 Exétar Cath•dral School (R8gi$tsY￿ number: 083313031 Report of tha Trustee5 for the Year Ended 31 August 2023 0￿ECTIVEs AND ACTMTIES All provision ￿tween 08hOO and 17hW, in both the Pre-Prep and the Prep. is included in the luition fee. Save In the rare cases where specialist faalib'es are hired or specialist coaches brought In, there is n¢ longèr any chargg for supemsionlacllvktles befften th8 ènd of le550ns115h15 Prg-Prep. 15h45 Prep) and 17hOO. Th5s underlines our firm commitment to offering a fulfy-rounded educational experien￿ for all ECS puplls, and reflects the Importance we attach lo exiracurri(xJlar opportunity and invofvemènt. SplTltual Llfo The School has ts OTigins in Chrisb'an worship. The Sr*ool is situated in the lee of the cath￿1￿1. and to Ihls day the Cathadral continues to play a central role in the INOS of the pupils and staff 81 ECS. We seek lo foster a gently Christian environment in which Ihe vaknes of knie, tolerance, acceptance. genllene88 compasslon are endorsed and modelled through (Hjr da1￿ Interadons and in our dedsion-making. We welcome chiklren of all falths and none.. whatever cne's religious leanings. there is a spirrtuality to be fourhj in collective slilln8&5', in gathering together in quiet: in mindful together. We want our pu ￿1$ lo ￿ mindful ol, and gratèful ffx, those around them.. lo be aware of Ihemselves and oftheir impact on others., and, through Faith or a more g8neral appreciation of Spmrrfcuality.. to have a sense of woider and awe al th8 thought that they ale part of something greater and mor8 timetess than Ihemsefves. Hèad's 8ssembltes take place in cathedral qulre (vthere possible). Each $8s8ion begins ￿th a perfod of quiet reffleclion, en(L>uraging pupils lo develop an appreaauon for stilln8ss, silence, meditative conl6mplaUon, and splrllu811ty. A grgal8r focu5 was also placed on Fom) Times at the start of thè day. Thes8 8xiended session5 in srllall groups allowèd chlldren to spend time together 'being' rathèr than d￿ng,, and lo practi88 conv&rs8ti￿ and li8l&nlng. 11 also allowed fom Ivlors the ¢hance to worf( aknngside p3￿C￿lar Individuals who required some additional support. School services in the cathedral Induded the Carol Service, Lent Se￿￿6, HaNest Festival and Valodictory EuohBrisl. Chorislarvalgdiction took place al the end oftha academic year. and our0ut￿o1￿J senior choristsrs were presented wllh Iheir18av8rs' books and prdyed for. A rolatin9 teBm of servers {crucrfer arvj acotytes) assisled the Chaplain wrth s¢J￿1 serwi¢69, and reading and PTay8rs were18d by pupils from across the year-groups. Charity Fund-raSslng The School was pleased to supp)rt a numb8r of aThJ national charities throughout the y&ar. The chosen charity of the year {voted for by pupiL81 was Jay's an organisatK>n that ptovldes defibrlllalors in the locality and tralning to ￿h(X}IS. The School was pleased lo partner wth Ja￿S Aim lo jointly fund a publicly- accessible defibrillator affixed to a school building. Somè £4.000 was raksed through a range of activities, most slgnlficantly th8 3yd Annual Charity cOn￿rt and lis sponsored programme. The School was also pleased to raSse money chI￿ren In Need, Red Nos8 Day the Poppy Ap￿al. and lo support Surfers Against Sewage by carrying out a bea¢h clean, and Exeter Food Bank by harvest donatv)ns. Wellbelng. Engagemenl and Enrfchmont Thè School lakes ils social and Community responSi￿li￿eS seriously, and this 9Xtends lo prOv￿1ng opportunities lor pupils and parenlslguardians to errfJage In School and community talks and even15, as well as furbd-raising a¢lfviti8s for local and nalK)nal char[ti￿. The School continues to value and prornote engaggTnenl and from paren￿guardIanS and the WKler (£Anmunity. In 2022-23, engagement opportuntbes lo parontslguardians and pupils. included vlrtuallln-person parents. evenings- parenuguardian seminars- curri￿lurn engag￿Tran1 &venirKJS', phonics evenirvjs, Head's coffee mL)rnings', Tha ECS Journey events" themed curriculumldress-up days., woth book day" 3 sports d8ys; soclal m8di8' concerts.. plays; open Classro(￿ events. Page 12 Exetgr Cathedral School {R•glslered numb•r. 08331303) Report of the Trusto•9 for the Year End•d 31 August 2023 OBJECTIVES AND ACTNITIES Speech Day & PrIZe￿I¥ln9 The whole School came t￿ether for Speeth Day & Prrze-Gfvjr￿ in thè cathedral nave. Speeches were glven by th& Heads of School. the Hoad and thè Guest of Fkinour Rthard Biggs (outgoing Hèadmaster of Kiro's College, Tauntm). Al (*K)irs perfoTm8d. a5 dKJ 2 soloists. Prizes wwe awarded for ￿demiC athievèment. effort and prOg￿S$. sport and the arts. contnbution to or ex¢ell8nce In the wider lrfe of the SchoJl. and for goc*J ciUzerL8hip, knndness, discipleship and forti1￿1￿. Summary The School has been ple8sed to achieve mtabh SLKte53 OV8r the 2022-23 academic year, wth encwraging a¢ademic rgwlls, slgnificant scholatship SUC￿5. an incmse in yèar-on-year pupil numbers. 8 financlal pos1t1￿ which shows a good dlrectiDn of travel. and a growng and glowi￿ ffputation locally and more widely. This is thanks to a livoly and positiv8 pupil coh(yl, an ￿gaged arNJ supportive parent body. a 18rrfi¢ally-har working siaff team, a visionary and purF*)88fiJl executive management team. and th8 energy 8nd expertise of Its Goveming Bpdy. The Sdiooi hopes that through(￿ the 2022-23 academTC year it has ¢x)ntlnued to build a Strong. kind, purposelul, loving and re￿lIent ¢c￿munity whith is fuiure4eady. Aixsve all else, the School is commttted to being a place where people m81ter. aThJ to vmrknng with famIr￿ to help wpils acquirfr the right habils for life. STRUCTURE, GOVERNANCE AND MANAGEMEP Charitable constitution The School operates under the tem)s of the Compan￿5 Memorandum and Articks of Asswiation, dated 13 D@ceTnber 2012 and tha Statem8nt of Actiwties and F￿bI￿ Bènefit s&aled by th8 Charity CommlssionoTS for E￿I￿nd and Wales on 28 March 2013. RgcTUitment and Appointment of Board Members The GovernSng body understands the need for the Board to have members ski115 and exwen ar8 attribJled lo thos& required to running 8 Sthool. Where P)ssIb￿ the Govemors con8h4or Ihal the sknlL8 and oxperience of the 8oarKI should comprise th8 following.. * At least one Governor wlh èducation expgrlence . A Governor with a finanGiaWaccountiny background • A Governor wth experi8n¢e ol Human Resoufcg IHRI matters . A Governor with senior managerial or business expert15e . At least one Governor with expèrience ofworklng y￿thIn church of ErvJland All nominations for the Board are approved by the Board, folknwing vthich such persons shall also be aptx)inted as Trustees (Govorrsorsl.. apwintments take effed frcKn Ihe date the Board confims its approval in writing. Board Members Appolnted durfng the parlcxl 01 September 2022 to 31 August 2023 Five b(>ard tnembers18ft during the yèar.. Derek Phillips. Richard Biggs. Mark Sugdèn, Susan LockWo￿j and Nicola Cowling. One board m8rnber. Aison Fisher, was appointed this finanual year. Chartes Beer was 818Cted Chair in July 2023 folk)wing the retirement of Derek Phillips. Page 13 Exeter Cathedral School (R•glstsrnd numb•r. 08331303) R8port of the Trustees for the Year Ended 31 August 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Dlrectors, Inductlon and Tralnln9 All Govern¢YS hav6 rèc8iv6d information warding t￿1r responsibil￿e8 as Trustee5 of the Charfty. All new Board Members r￿1ve induction training and inf¢)rmation regarding Iheir role as a director of charitable company and a govemor of an IIMI8P8ndent schcMII. During the period 01 September 2022 to 31 August 2023 all Govgmors have receNed updates regardiN Safeguarding Chlldren and Keeping Chli dron Safo in Education {KCSIEI Includlng sublacts linked to Possib cyber thrgats such os s8xtlng and Prevenl'ro RadicalisalK)n rnie Prevent Duty}. Rlsk Management The Govemors have a duly lo identwy and review the rfsks lo whlch the School is exposed and to ensure appropriate controls are in pla￿ to provKle rea50nabie assurance against fraud and error. Comprehensive consid8r81ions of risk are de￿gated to the Head and Senior Leadèrship staff oftha SctK)ol. Risks are id@nllf￿d, assessed and controls established throug1￿ the year. Rlsk is managed underthe headiros of finance. health and safely. environment, student welfare, eMp￿YMent and school trips and events. The main risks tho Governors aThJ the Head have identified are.. R¢putation. The Sthool's success is built on its r8PUtation for thè èdu&•tion and well-being of its pupils. This risk is managed Ihrough a combination ol robust policies covering safeguarding, KCSIE and staff recruilmenl, and strong pastcial support for both Pu￿1$ and stsff. Health and safety issues are actNe Idenlified and dealt ￿th in a timety manner. Flnanclal sustalnabillty. Reliance on pupil tse In¢x)me and rts Impact on the School's abTIIty to pay invoices as thèy f811 dutr. This risk is managed by marketing actwity and cash flow managBm8nl systems including a¢cgss to an adequate short-lerni creditfatilty. There 15 a risk associated with the invesimenl of surpluses and designated funds, This risk has been MIt￿ated by the truslees instructing Hawksmoor Invgstmcnl Management Llmited to advise them in connection wth all the compan￿$ investment arKI any potential rlsk arising from the invested funds. Boarding. A slow decllne In full aNI weekly boarding ntjmbers CCxJpl￿ wlh a trend for llexl-boarding, has the potential lo impa(* on the resources of the School. This lo a review of the continuance of this provision and thÈ dec¥sK>n that the boardiThJ ￿se VAII close in Juty 2024. IT Ilnfomialion Technology) Data Security. Failure to provide agquatè systems proteetr>n to key busines5 syslerns and resourrgs. This risk is maroged through a password protected rt network system for ensuring security. Ml reasonabk seujrity rneasure5 have been upgraded (including firewa118 and email fillers) lo offer greatèr wotectk)n against exlern81 threats such 8$ hacking and virusgs. In comrnon with oth8r organisations th8 ￿ systems are al risk to extemal threats and a possiblg breach of data {often through the inadvertent intrcduction 0fTrol￿ programmesl. Foms ol braath ar8 constantly being developed by criminals and cyber ransom is the blest trend in this area. Security of data depends upon a combinabon of physical securtyto Protect data from being hadied as well as reliance upon good pra¢ti¢è by the users with access lo sensitive data. Al staff are regularty reminded about the Imw)rtan of respgcling the integrity data stored on our systems. passwords are required to be changed every 90 days and there are policies in place for Ihe1eryth of passwords. Data Protectlorb. The Dats ProledKJn Lead {Privacy Officèrl has had exiensiv8 tralning and is conversant with the General Data Protectlon R8gulatK)n IGDPRI legislatlon and the requirements It places on the School. Govemors and staff have receNed some initial training,. fLJrther tmining is provld8d on an ongoing basis. Currlculum. A Stror￿ academic prow5ion requires the most ableteachers to dtslNer a v8ri8d curriculum which inspires the minds of pupils lo18am. This risk managed through a Bornbinalion of a employing a strong academic team. offering compeUINe salaries and allowances for additional responsiblllues. leadership w)5ilions and specialist subject ￿aders. Pag8 14 Exeter Cathedral School (Rogistèr•d numbpr. 083313031 R•port of the Trustee$ for the Year Ended 31 Augilst 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Safèguardlng. Ex&ler Cathedral School recoJni8es its mord and statLrtory r95wnsibility lo safeguard and promote the weffare of all pupi15. We endeavour lo provid8 a safo and welcoming environrnent where children are respected and valued. We are a￿ to the signs of abuse and neglect and follow procedures lo ensure that children receNe effethe sUPPOrt, prot8¢bDn and justice. Child prolectK)n forms part of the school's safeguarélng reskK*nsltslrfes. The School supports all staff, volunteers and governors WFK) work wth children in promdiny them wtth appropriate trainlng lo ca¢ry out their individual responsibiliti'es for child protection effectivety. Nèw staff are made aware of thè School's arrangements for safeguarding and thild proteciion and their own responsibilities with regard to safeguarding the welfare ol pupils al Ihe School Through the risk management processes established wthin the Sd)ool, tho Governors are satisfied that any major r18ks identSfied arg adequatdy mIt￿at8d. The Governors recognise that syste￿S and processes can on prOv￿e reasonable bul not absoILrte assurance that ary maltr* risks ean ba adequatety managed. Organlsatlonal Structure Th8 Governors, who are also director5 of the company and charity trustees. are responsible for the overall management and control of Exeter C8lhedral SclKM)l and meetas a frjll t*Jaré three times a year. All Govemor8 give their lime freely and with the exceplion of expensas being paid,. no remuneration was pald durlng Ihg year. No Govemor or person connected with a Gover￿[ received any banafit from means tested bUrSar￿S or scholarships awarded to pupils. The Direcaor of Finance & Operations IDFOI trf Exèt81 Cath6drBI School also holds the post of Clerk lo the Governors arKI Company Se¢yelary and is respon&ble for o)-ordinaling the w ol thg Governors ar￿ their committe￿. The Govemors dekgae authoty lor the day lo day running of thg School to th8 Hèad, SLJPPOrted by s8nK)r staff. Koy Managèment Porsonnol The Headrnaster undertakes the key leadership role overseeiro educatiorh81. pastoral and administrative fun¢lSons of the School s￿1h the supwrt of the Sch)ol's Senior Leadership Team ISLT),. which consists of the SEnior Deputy Head. Deputy Head Pupils (also the DeshJnated Safeguarding Lead IDSLII, the HÉad of Pra- Prep. and the Director ol Finan￿ & Operations {DFOI. Headmaster IHMI SgniDr Deputy Hewj Deputy Head {Pupilsl and DSL Hèad of Pr&Pr8p Director of Financ8 & Operations Acting Head of PrtrPrep Jamos Foatherstone Andrew Bart￿tt Sarah Reddington (ReswJned 30 August 20231 Elizabèth Bow* {Resigned 31 December 20221 Steven Webber Heidi Layhord {Appointed 1 J8nuary 2023) Tho day-to4ay 8dministmlion ofthe Schwl is urMJertakon within the polioes and procedures approved by the Govern￿$. The Hèad overseès the r8cruitment of all educational staff. whilst under delegated authority the DFQ ov&rsoes Ihe recruitrn8nl ol thministralwe and nO￿tea￿1n9 support staff. The Head, the DFO and tha DSL are invited lo attend Governors. meettros. Other members of the managem9111 tèam arè inv￿ed to ideniified Committee meetings. Memberships Th6 School is a member of IAPS It￿ Independent Assouation of Preparatory Schools), tho CSA (Cholr Schods, Association), the BSA (Boarding Schools, Association). the AGBIS (A&sociati￿ of Goveming Bodies of Independént Sch(KJlsl and ISBA {the Independent Schools, Bursars Association). Membership of these organisalions provides rnany opportunities for the Head and the SLT to share expertise, knowledge and expedence across thè independènt sd)wl sector. PaJe 15 Exetor Cath•dral School {Registergd number: 08331303) Report of the Trust•eS for th• Year Ended 31 August 2023 STRUCTUR4 GOVERNANCE AND MANAGEMEKr FINANCIAL REVIEW Prlnclpal Funding Soureès The prsmary source ofincom6 is gengratedthrough the payment offe8s. In￿m6 1$ eynded in Ihefurth6r8r of thè School's aims and objectiV9$. AJI net incoming rèsourtss are eithgr deployed for edu¢alional purpos8$ or Invested for fulura developnent prqecls lo enhance the fatyK of the School. Financlal Assl$tance Schemes BLJrsary awards are made purely on the basis of parental means or to ralieve hardship where a wpll's education and future prospects woukl olherv￿se be al risk, for eXam￿e in the case of111 h8alth r8ndering a paTent temporarily unable to work or redundancy. In assessing rneans for support several factors are Co￿ld￿r8d Including tsmily in¢cme, Investments #nd $8vinus and property ownershlp. Other circumstances such as dependent relatives and the number dsiblings are also taken into ¢onsideralion. The S¢hool employs Bursary Adrninlstration Limited lo conduct objective assessments ofall applications for Lwrsary awards. Exeter Cathedral School does not hav8 3 large endowment from which to provide bursary support and in making SLJth awards il needs to be mindful of the balanc¢ betsY¢en fee-paysng parents, many of Thake considgrable sacrlfices lo fvjnd their child'5 education, and those who might benefit from bursary asslstance. Where more than one child in a family attends the Schwl. a sibfing discount of 10% is offer8d for tho second and any Subsequent chlld. As part of our recNitment and retenllon package for thcting high calibre staff. the School offers a disc4Junt scheme for staff mémbers who choose lo educatè their chiklr8n at the Sch¢x)I Rdserves R•vl8w The Govornors regularty rewew the finances. bLKYgels and speThl against budget., th&y ar8 satlsfied that they Iw>ld sUffiC￿nI liquid resèrvès to cover the ¢>Jmpanls cyjrrenl babilities. The Goveinors consbder it Is necessary to maintain a b8Lgnce b8twe8n preserving a pOs￿￿e b8￿r￿0 sheet with sufflcient reserves lo operate for seveTal months a￿1 maintaining the infrdslructurè of the School in sound order to c￿li￿￿e to attr8ci new pupils. In an increaslngty competitlve mark8tpla¢&, the Govemors arè aware of the irnportance of maintaining affordab￿ fee levels. The Govomors recognise that thè lèvel of reseNe8 fluctuates durlng pernds of investment in the Schoc4's estate. To that end: the School has drawn its reserves to improvè eash fk>w or lo provide security lor short tem credit facilities when nwss8ry. The financial sl81gménts have been prepared on a ￿Ing concem basis. Th8 Trustees have reviewed and considered relevant information, inclu(iiny annual budgets. pu nUm￿r ond cash Ilow forecasts. in reaching this posit￿n. They arè aware of future risks i[￿ludir￿ the possibk decline in pupll numbers and the threat of substantial tax changes under a dfferent govemm8nt and wll be taknng appropriate steps lo manage these sks. InYestm•nl Pollcy and Obj¢¢tlv•s Inv&slm8nt activities are tnanaged in line wlh thè r￿Ul￿MentS ofthe Trustee Act 2000. The Governors have engaged Hawksmoor Investment hAanagement kn"mited lo manage their inveslme4t portfolio. Tha objedive of the Investment Is to provide income wh￿h can be Te-invested lo further the objectNes ofthe company. Pension Llabilify The School partKipates in the Aviva Pensions Tnjstfor Indep￿Jen1 S¢*KN)Is IAPTIS)foracademie and related stsff. Tha School also operates a defined contribution scheme. operated by the Pensions Tn￿t, in r8SPgCt of staff not eligible lo join the APTIS. Page 16 Ex•tor Cathèdral School (R•glstwod numbw. 08331303) Report of the Trustees for th• Y•ar Ended 31 AuguBt 2023 FINANCIAL co￿ROLs The internal financial contml of the Schwl's accounting procksses are based on a tramework of regular management information and administrative procedures including the separation of dUt￿S and a system of elègalion and accountability. In parb'cular il in¢lude$= Comprehensive budgeting and monitoring systems with an annual budget and termly financial reports Imanagemenl accounts) which are revtewed and agreed by the Govemors,, . Regular reviews by the FinarKe and General PurFues Committee of reports and key perfom)an¢e indicators IKPlsl and ol major purchase pLgns or Capitsl invastmentthrks proFosals.' Clearfy defined levels of de￿gated aulhority and the segregation of duties.. . Ident￿lI￿1￿)n and management of risks Golng concom The financial slatemerhts have been ￿epar￿1 on a going concem basis. The Trustees hav8 revlewed and considerod rolgvanl informatlon, induding the annud budget and futur8 ¢ash flows in making their assessment. Based on these assessments, gNen the measures that couhd be undortaken to mitigate the current advers8 conditions, and the current resources available, the Trustees have conctuded that they can continue lo adopt the goln9 concem basis in preparing the annual repK)rt and accounts. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 08331303 IEngland and Wales) Reglstered Charlty number 1151444 Registered oflice The Chanty Palace Gate Exeter Devon EXI 1HX Webslte -exelercathedralschool.co.uk -exeler¢s.o Trust•e$ D J Phillips (Chair until Juty 2023) Vory Rovd J Gr￿￿er R R Biggs J M Sugd&n N R Pockett CarKJn J Mustard Canon J Ellis Prof M Tottorns 8r8 rècognised in the Statement of Finanual Activities in the periryj in which thoy becgmo payabla in acc1)rdan￿ with the rules gf the scheme. FSxÈd Assèt Invastments Fixed asset investments are stsled at market value. Galns and losses between historical (x)st and market value, whether realised or unrealised, a recognIs￿ in the Stsloment of Finanual Activ(tie5 in the perf(￿1 in which they arise. Govemrnent Grants During the yaar th8 company received arvj rwnised the following govemmenl grants: Page 28 ¢x)tinued... Exgter Cathgdrdl School Notes to tho Financial Statements. contlnuod for th• Year Ended 31 August 2023 ACCOUNTING POUCIES- contlnued £Nil12021 £15,253) Coronavlrus Job Retention ScaEme. Operatlng lease commltments Rentals payable under operdtiro ￿$￿S are d)8rged in the Stslement of Financial Activities on a straight line basis over thg lea58 lem. Financlal instrumonts Finan￿81 instruments are classffied and accour￿d for. a(x(yding to the substance of contractual arrangement, as financial assets, financaal Irabllthes ¢x oquty instruments. An equity instrument is any contract that evKlenc8s a residud intergst in the assets of tho r￿MpanY afttsr deductlng Df hs DONATIONS AND LEGACIES Y8ar ended 31.8.23 Totsl ftJnd$ Year ended 31.8.22 Total fiJnd8 Unrestricted fvnds Restricted funds Donations 13,733 8,249 13.733 8,249 OTHER TRADING ACTMTIES 2023 2022 Kaiendar H81118tb'ngs 11,116 11,029 INVESTMEKf INCOME 2023 2022 Incom8 from li81ed investments Dewsil account interest 11.266 8,800 1,021 11,670 9,821 Pag8 29 ntinuèd... Exet•r Cathedral School Notes to the Flnanclal Statements - continued for the Y&ar Endgd 31 August 2023 INCOIAE FROM CHARITA8LE ACTMTIES Year end8d 31.8.23 Total funds Year ended 31.8.22 Total funds Unrestricted Restricted funds funds Gross fees Discounts 8un8aries Boarding Br88kf8St dub After schwl cara Rogislralion fees Income from extra actNtties 3.283.093 {310.071 > 1143.623} 126.368 3.397 24.414 3.075 2,875 3,283,093 {310,071} {143,6231 126.368 3,397 24,414 3.075 2,875 3,080,860 1245,2471 1111,1951 73,752 3,945 27,931 3,450 691 2.989.528 2,989.528 2,834,187 RAISING FUNDS Othar tradlng actI¥l￿es 2023 2022 Opening stock Purcha58S Cknsing stock 12,262 497 {12,7591 5,186 7,076 {12,2621 CHARITABLE ACTNMES COSTS Year ended 31.8.23 Total fijnds Year ended 31.8.22 Tot81 funds Unrestricted funds Restricted fun(ts EducatK)nal BoardSng After school care Domestic and catering Maintenance One off proje& Lyjsts AdminiStrat￿rt Govemance costs Finance Costs 2.187.954 2.187.954 2,105.764 16.661 634,921 48,039 37.258 224,979 15.634 5,512 16,661 634,921 56,078 37,258 224,979 15,634 6.956 477,635 41,098 8.039 151,414 14,37Q 2.811 1.613 3.170.958 9.483 3,180,441 2,832,057 Page 30 cKJntinued... Exètgr Cathodral School Notgs to thé Flnanclal SLitem•nts - continuod forthe Year Ended 31 August 2023 NET INCOMEIIEXPENDMJRE) Nel incomellexpenditur&) is stated after chargin￿(Gr￿￿1tingl'. 2023 2022 Depreryation - owned assets Computer softw8re amortisalM)n Auditors remun8ration Audltors remuneratlon- non-audit services 76,612 950 6,158 9,476 65,449 2,855 5,755 8.161 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, refflungration or other benèffts for the year ended 31 August 2023 n¢X for the yeor ended 31 August 2022. Trustees. •xpensoS J M Sugden was pa￿ £Nil {2022 - £2921 for reimlyJrsemeTrt of travel and other expenses cl) bghalf of th8 company. M S Totlerdell was paid £246 (2022 - £Nil) for reimbursement of travel and other expenses on beha of the company. 10. STAFF COSTS 2023 2022 Wages and s81aries Social sewrity costs Other pension c081s 1.629.605 161,619 1,566,293 155,198 201,009 1922 500 The average monthly number of empty8s during the year was as follows.. 2023 55 2022 62 All departments The number of employees vthose ompbye& beneffts {exduding emptyer pension costs) exceeded £60,000 was: 2023 2022 £60,001- £70.000 £80,001 - £90.000 Page 31 continued... Exeter Cathedral Sch¢x*l Notes to the Flnanclal Statements- contlnu•d for the Year Ended 31 August 2023 10. STAFF COSTS- c¢)ntlnued Total employee benefits received by key Mnagem￿l personnel. exc5uding Ih05e disclosed under high8r paid 8mployees} during the year was £164.63412022.. £83,gY)01 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 2022 Unrestricted funds 2022 Reslrf￿ed fund 2022 Totsl funds INCOME AND ENDOWME1￿8 FROM Donations arKI lega￿tt8 5.749 2,50D 8.249 Charitable activities Gross chartt8blè activity In￿Me Other tradi￿ activities Investment inwme 2,834,188 11,029 4.838 2,834,188 11,029 9,821 Total 2.855,804 7.483 2 863 287 EXPENDrruRE ON FL2ising funds Charitable actfvltlgs Gross charitable acliv7ty costs 2 818.565 13,492 2 832 057 T¢to1 2.818.565 13,492 2,832.057 Nel galnslllosses) on investrnents 10.471 26,040 36,511 NET INCOMEI{EXPENDrruREI 26,768 132,0491 5.2811 RECONCIUATION OF FUNDS Total funds brought fowrd 420,001 328,858 748.859 TOTAL FUNDS CARRIED FORWARD 446,769 296,809 743.578 Pa￿ 32 conllnued... Exeter Cathedral School Notes to th8 Financlal Ststements- contlnued for the Yoar End￿ 31 August 2023 12. INTANGIBLE FIXED ASS￿8 Computsr software COST At 1 September 2022 and 31 August 2023 14.274 AMORTISATION At 1 SeptemL*r 2022 Charge lor year 13,324 950 At 31 August 2023 BOOK VALUE Al 31 Augusl 2023 Al 31 August 2Q22 950 13. TANGIBLE FIXED ASSErs Fixtures and ffttings Short leasehoh Plant and machinery COST At 1 Septembw 2022 Addllions 742,320 48.271 17,904 218,096 14,442 Al 31 August 2D23 66, 175 232 538 DEPRECIATION At 1 September 2022 Charge for y8ar 228.616 32.799 33.136 8.758 140,246 13,891 At 31 August 2023 261.415 41,894 154,137 NEf BOOK VALUE Al 31 August 2023 48D,SYJ5 78,401 Al 31 August 2022 513.704 15,135 77,850 Page 33 nllnued..- Exetèr Cath￿rnI School Notes to the Flnancial Statwrénts- eonllnued for the Year Ended 31 August 2023 13. TANGIBLE FIXED ASSEfs - CO￿lnUed Motor vehlcles Comtirter equipment Totsls COST At 1 September 2022 Additions 28.183 122.742 16,109 1.159,612 48.455 Al 31 August 2023 28,183 138.851 1,208,067 DEPRECIATION Al 1 September 2022 Charye fly y8ar 17.706 2.654 88,141 18,510 507,845 At 31 August 2023 20.360 106,651 584,457 NET BOOKVALUE At 31 August 2023 7.823 32,200 623,610 At 31 August 2022 10.477 34,601 651 767 14. FIXED ASSEf INVESTMENTS Lislad Investments MARKET VALUE At 1 September 2022 Additv)ns Diswsals Revaluations 416,359 26.228 132,9051 9,5941 Al 31 August 2023 400,088 NET BOOKVALUE At 31 August 2023 400,088 At 31 August 2022 416 359 There were no fixed asset Investrients oulsKle ￿ the UK. Cosl or vaualion al 31 August 2023 is rnpresented ty. Listèd Investments Valuation in 2023 Cost 19.593) 409.681 4￿,088 Page 34 continued... Exelor Cathedral School Notes to the Financial Statements- ¢ontlnu8d for the Year Ended 31 August 2023 14. FIXED ASSEf INVESTMEKfs- contlnu The revaluatlon disclosed in the notes of these fin8ncial Statements does [￿1 agree tc• the reaiised galn on fixed asset investments shown on the face of the SOFA because of Ihe nature ofthe Items that form the overall change in value. A r￿nd￿lOn of these figures is 8$ folk)ws'. Realised gainslllosses} on fixed asset inves1ments per SOFA Capital Introduced Income ftom listad investmenls Investment management fees Cash Btssl Df additlons Cash proceeds of disposa15 {Profil￿OSS on disposal Change in investment valu& arising from cash drawlrwJs 122.0991 11.265 12,6931 126,2261 32.904 Actual thang• in value af fixed ass8t inv¢strnents 15. STOCKS 2023 2022 stocks 12,7Sg 12.262 16. DEBTORS.. AMOUNTS FALUNG DUE wrrHIN ONEYEAR 2D23 2022 Trade debtors Other dèbtors Prepayments 519,063 1.065 69,397 478,737 8,169 59,992 589,525 546.898 17. CREDrroRS: AMOUNTS FALLING DUE ￿THIN ONE YEAR 2023 2022 Bank loans and overdrafts {see note 20) Tr8d6 cr8ditors Social security and other tsxes Other creditors Deferred irKome Accru￿ expenses 8,718 70,664 38,222 39.411 882,460 40,546 7,108 68.356 39,027 30,443 973,365 1080.021 1,145,946 Deferred income ielal8s to fees and donations recwved before the service Is perfomed or oxpendilure Incurred. Arnounis wthin one year £882.460 (2022 - £973,365) and amounts over one year £11,217 12022 - £11,217). Page 35 continued... Exeter Cathedral School Notès to the Financial Statemants- contlnued for the Year Endod 31 August 2023 18. CREDITORS: AMOUNTS FALLING DUE ￿ER MORE THAN ONE YEAR 2023 2022 Bank h)ans Isee note 20) Other cYeditor8 Def6rrod income 40,731 57.950 11.217 42,893 65,38L) 11,217 109,898 19. LOANS An analysis of the maturity of k)an8 Ls gNen t*low.' 2023 2022 Amounts faltlng due within one year on demand: Bank knans 8.718 7,108 Amounts falling between one 8nd Ivn years.. Bank loans- 1-2 years 9,741 9.687 Amounts lalliTrJ due between two 8fKI fve years: Bank loans- 2-5 years 30.99) 33,206 20. LEASING AGREEMENTS Minlmum lease payments uThler nOr￿ancelIable operating leases fall due as follows: 2023 2022 Within one year BetwÈen on8 and five years In more than fve years 6,322 228,100 627.7QO 70,347 236,941 684,725 92CI,647 992.013 Prop8rty commitments amounts to £912.825 (2022.. ￿9,850) of the above lolal. 21. SECURED DEBTS The f0lbwl￿ Secu￿ debts are included withn credttoTr'. 2023 2022 Bank loans 49,449 50,001 The bank loan is secure(J by a tharge over the investraents ofthe L*anty. Pa￿ 36 Gonlinued... Exeter Cath•dral School Notes to the financial Statements- c¢Jntinugd for the Year End￿ 31 August 2023 22. ANALYSIS OF NEf ASSEfs BEfwEEN FUNDS 2023 Total funds 2022 ToLg1 funds Unrèstricted Restrtcted funds fund Fixed assets Investments Current assots Current liabilities Long term liabilities 588.685 4W.088 6￿,137 11,080.021) 109.898 34,925 623,610 652,717 400,088 416.359 733,307 939.938 11.080,021) 11,145,946 109.8981 119,4901 43,170 488.991 78,095 567,086 743.578 23. MOVEMENT IN FUNDS Net movement Transfers b8tween funds in funds At 1.9.22 At 31.8.23 Unr•strl¢t•d funds General'fund 446,769 {163,16n 205,389 488.991 Reslrlcted funds Restricted other income ,809 (13,325) {205,3891 78,095 TOTAL FUNDS 743.578 176,4921 Net rrthwnenl in fund$ induded in the above are a5 follows: Incomlng Resources Gains and k)sses Movements in funds Unrestrictod funds General fund 3.020,180 13.170,9581 (12,388) {163,1671 Restricted fvnd$ Ka5endar H￿1 donations fvnd Hall House ￿aygrOund fund Thomas Franks Kttchen fund S.F.IA Edu¢8Uonal Trust fund {1,826) 11,8261 13,075} 13,C)75) {3.138) {3.1381 5.867 1,444) 9,709 5,286 5.867 9,483 9.709 TOTAL FUNDS 176492 Page 37 continued... ExeteT Cathgdrnl Sth¢ol Notas to the finon¢lal Statèmonts- contSnued forthe Ygar Endod 31 August 2023 23. MOVEMENT IN FUNDS Comparatlve: Net movement Transfers between funds Al 1.9.21 In fvnds At 31.8.22 Unrestrlctad funds General fund 420.001 26.768 446,769 Rgstricted funds Restricted other income 328,858 (32.0491 269,809 TOTAL FUNDS 748.859 281} 743 578 Net movement in fU￿S incILKI￿ in fv above are as folthv8: Incoming rèsourcAs Resour expended Gains and losses Movements in funds Unrestrlctod funds General fund 2,855.804 12.818.565) (10,4711 26,768 R•stTlcted funds Kalendar Hall donations nd Hall House pl8ygrourKI fund Thomas Franks Kitthen fund Hockey ￿VIpment fund S.F.IA Educational Tru6 fund 12,434) {2.4341 (3.075) 13,075) {3.8701 {2,500} (3,8701 1,613) 26 0391 24.0191 7,483 13.492 26.039 TOTAL FUNDS Pa9e 38 continu8d... Exoter Cathedral School Not05 to tho Financlal Stat•ments- contlnu•d for th• Year Ended 31 August 2023 23. MOVEMENT IN FUNDS- continu9d Reslricled funds., The Kalendar Hall donations fund accounts for received for the improvement of Kalendar Hail. The Hall House playground d￿ati(Th fund aw)unls for mon8y ￿1Ved by the school frrjm Exeter Cathedral School Armstrong Trust forthe inst8llation of a new playgr¢xJnd al Hall House. The Thomas Franks Kitchen tsjnd a¢>))unts for tiems donated by the &iterers for use w￿h1n caterfng. The Hockey fund represents a one off donation lor the purposes of purcha8lng hockpy equipment for the sBhwl. The S.F.l.A Educational Trust fund accounts for rr￿￿eY recerved in aévance lo pay for bursarios and luitlon. At year ènd the was consKlered to have fuMlkd its purKy)se. wth reslricted funds having 811 been utili5ed. so the surplus Wds Irdnsferred to thg gerErdl fund. RELATED PARry DISCLOSURES Ther& Y48TO no rèlated paty transa¢tlons for the yoar ended 31 August 2023. 25. MEMBERS. LIABILITY The chwity is a prfvate company Mmited by guarantee and c(wueAty does not have share capll?l. Each ol th8 members is liablè to fA)ntritKrte an ainounl not ex￿eding £1 towards the asséts of the ¢harity in thè 8vent of liquidati￿. Page 39