Charity number: 1062423 ## CHESHAM GRAMMAR SCHOOL FUND UNAUDITED TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023 ## SE eee CHESHAM GRAMMAR SCHOOL FUND atte ee ## CONTENTS **----- Start of picture text -----**
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Page| |Reference|and|administrative|details|of the|company,|its Trustees|and|advisers|ak| |Trustees'|report|2| |Independent|examiner's|report|5| |Statement|of financial|activities|6| |Balance|sheet|7| **----- End of picture text -----**
Notes to the financial statements 8tol1l1 Eee—*=" —eeCHESHAM GRAMMAR SCHOOL FUND # REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 AUGUST 2023 |Trustees|MsAnnmarie McNaney, Headteacher| |---|---| ||Mrs Martha Ware| ||MrTim Patterson| |Charity registered|| |number|1062423| |Principal office|Chesham Grammar School| ||White Hill| ||Chesham| ||Bucks| ||HPS 1BA| |Bankers|Lloyds Bank PLC| ||79 High Street| ||Chesham| ||Buckinghamshire| ||HPS1DE| Page 1 ## CHESHAM GRAMMAR SCHOOL FUND ## TRUSTEES’ REPORT FOR THE PERIOD ENDED 31 AUGUST 2023 t The Trustees present their annual report together with the financial statements of Chesham Grammar School Fund (the charity) for the period ended 31 August 2023. The trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015 and Charities Act 2011. ## i. Objectives and activities The principal object of the charity is to advance the education of pupils, providing and assisting in the provision of facilities or funds for the enhancement of any school activity. The second objective is to account for and safeguard payments made by parents toward school trips and other self funding activities. During 2023 the decision was made by the Trustees to move the school trip income from the School Fund into the school accounts meaning therefore that no additional trip funds are included during this accounting period. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)'. ## ii. Financial Review ## a. Investment policy and performance The endowment funds have been invested in bank deposits and building society accounts and interest earned on the balances is monitored by the trustees. ## b. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 2 ## c. Reserves policy Reserves are maintained in order to mitigate the risk of a poor response to annual requests for Parental donations and to allow for the costs of the forward planning of capital infrastructure projects. The fund's policy is to hold minimum unrestricted reserves of no less than £5,000. At 31 August 2023, the balance on unrestricted general funds was £298,584 (2022: £386,347). However, the trustees recognise the need to continue raising funds for general use in the future. t d. Financial risk management objectives and policies The trustees have conducted a review of the risks to which the Fund is exposed. The Fund can provide the service required if all schoo! trips achieve seif funding and all extra curricular support is covered by parent donations. The risk therefore is delays in payment of parent trip fees and/or over commitment of extra curricular activities. Systems and procedures have been established to mitigate these risks. ## iii- Structure, governance and management a. Constitution Chesham Grammar School Fund is a registered charity, number 1062423, and is constituted under a Trust deed dated 12 November 1996. ## b. Methods of appointment of Trustees The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. ## c. Organisational structure and decision-making policies The organisational structure of the Fund follows that of Chesham Grammar School. Decisions are made by the trustees at their meetings held twice a year and by the Headteacher on a day-to-day basis. The trustees delegate the day-to-day management of the Fund to the Chesham Grammar School finance team. iv. Plans for future The Fund plans to continue meeting the objectives stated in the Charity Declaration. a. Routine Functions The Fund presently continues to administer the income and expenditure to support a number of activities including thy equestrian club, schoo! trips/visits and other extracurricular and facilities development. b. Income The main source of income continues to be parent contributions. Page 3 ## c. Expenditure The Fund has been used primarily to financially support prize giving, school productions and both student and staff welfare and school trips in order to develop students' education, as well as to upgrade school resources and facilities. ## Statement of Trustees’ responsibilities The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. in preparing these financial statements, the Trustees are required to: (i) select suitable accounting policies and then apply them consistently (ii) observe the methods and principles of the Charities SORP (FRS 102) (iii) make judgments and accounting estimates that are reasonable and prudent (iv) state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements {v) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 19th March 2024 and signed on their behalf by: **----- Start of picture text -----**
A McNaney Y —
Trustee KH A fag
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M Ware
Trustee lo/s [2 Ory
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Page 4 ~ ## Independent Examiners Report on the Accounts of Chesham Grammar School Fund For the period ended 31% August 2023 independent examiner’s report to the trustees of Chesham Grammar School Fund | report to the trustees on my examination of the accounts of the Chesham Grammar School Fund for the period ended 31 August 2023. ## Responsibilities and basis of report As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). | report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. | have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records. | have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. **----- Start of picture text -----**
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19«1.%
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Mrs J MA Sorensen, MIAB The Accounting & Bookkeeping Bureau 30 School Close Holmer Green High Wycombe Bucks HP15 6SR ## ee_ CHESHAM GRAMMAR SCHOOL FUND ## eC” ## STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 AUGUST 2023 **----- Start of picture text -----**
||||||||| |---|---|---|---|---|---|---|---| |Restricted | Unrestricted|Total|Total| |funds|2023|funds|2023|funds|2023]|funds|2022| |£|£|£|£| |Note| |Income|from:| |Charitable|activities|3|281,827|100,006|381,833|224,387| |Interest|4|19|2,221|2,240|38| |Total Income|281,846|102,227|384,073|224,425| |Expenditure|on:| |Charitable|activities|5|129,907|189,990|319,897|173,749| |Total|Expenditure|129,907|189,990|319,897|173,749| |Net movement|in funds|151,939|-87,763|64,176|50,676| |Reconciliation|of funds:| |Total|funds|brought|forward|60,717|386,347|447,064|396,388| |Net movement|in|funds|151,939|-87,763|64,176|50,676| |Total funds carried|forward|212,656|298,584|511,240|447,064| **----- End of picture text -----**
The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 8 to 11 form part of these financial statements Page 6 ## = CHESHAM GRAMMAR SCHOOL FUND ai el BALANCE SHEET AS AT 31 AUGUST 2023 **----- Start of picture text -----**
2023 2022
£ £
Notes
Current Assets:
Debtors 9 0
Cash and Bank 511,240 447,064
447,064
Creditors 0 (6)
Net Current Assets 511,240 447,064
Total assets less current liabilities 511,240 447,064
Net assets excluding pension asset 511,240 447,064
Total net assets 511,240 447,064
Charity funds
Restricted funds 12 212,656 60,717
Unrestricted funds 12 298,584 386,347
Total Funds 511,240 447,064
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The financial statements were approved and authorised for isssue by the Trustees on 19th March 2024 and signed on their behalf by: **----- Start of picture text -----**
AY——4
A McNaney
M Ware AAL VIGt_
Trustee aS i" (2¥ Trustee l lg/ 5/2024
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The notes on pages 8 to 11 form part of these financial statements Page 7 ## —S—eke ra SS +=CHESHAM GRAMMAR SCHOOL FUND : NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2023 ## 1. General information Chesham Grammar School Fund is a charitable trust registered in England and Wales (Charity Registration Number 1062423), the registered office address is Chesham Grammar School, White Hill, Chesham. HPS IBA. The description of the charity's operations and its principal activities are as stated in the trustees report. ## 2. Accounting policies ## 2.1 Basis of preparation offinancial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Chesham Grammar School Fund meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## 2.2 Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. ## 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 8 ## 2.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## 2.5 Debtors Trade and other debtors are recognised at the settiement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## 2.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## 2.7 Liabilities and provisions Liabilities are recognised when there is an obligation at the balance sheet date asa result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. ## 2.8 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. ## 3. Income from Charitable Activities ||Restricted|Unrestricted|Totalfunds|Totalfunds| |---|---|---|---|---| ||funds2023|funds 2023|2023|2022| ||£|£|£|£| |Income from charitable activites||||| |Schooltrips, eventsand activities|281,827|100,006|381,833|224,387| |4. Investment Income||||| ||Restricted|Unrestricted|Totalfunds|Totalfunds| ||funds 2023|funds 2023|2023|2022| |interest|19|2,221|2240|£
38| ## interest Page 9 ## 5. Analysis of expenditure by activities |Activities|Activities|||| |---|---|---|---|---| |undertaken||||| |directly||SupportCosts|_—Totalfunds|Totalfunds| ||2023|2023|2023|2022| |School
Activites
Staff
Activities
Expenditurefromdonations
Equestrian Club|£
112,395
3,654
188,420
14,628|£
800|£
113,195
3,654
188,420
14,628|£
134,447
3,450
20,383
15,469| |==|319,097
800
SS—-———a||319,897
a|173,749
ses| |6. Independentexaminer's remuneration||||| |Feespayableto the charity'sindependentexaminerforthe
independentexaminationofthecompany'sannual accounts|||2023
£
800|2022
£
800| |7. Trustee's remuneration andexpenses||||| |During theyearnotrustees receivedanyremunerationorother benefits. (2021 £NIL)
During yearended30thJune2022 noTrusteeexpenses havebeen incurred. (2021£NIL)||||| |8.Debtors|||2023|2022| |Duewithin oneyear|||£|£| |Other debtors||||| ||||-|-| |Prepayments and accrued income|||-|| |||||-| |9. Creditors:Amountfallingduewithin oneyear||||| |Accrualsanddeferredincome|||2023
£|2023
£| |10. Financial Instruments||||| |Financial
Assets:
Cash|||2023
£
511,240|2022
£
447,064| |Financial Liabilities:||||| |Accruals|||-|| Page 10 12. Statement of Funds ## Statement of Funds- current Year ||Balance at 1|||Balance at31| |---|---|---|---|---| ||July2022|Income|Expenditure|August 2023| ||£|£|£|£| |Unrestricted Funds||||| |School DevelopmentFundActivities
StaffActivities
Parental Donations|361,157
102,043
-188,420
274,780
-5,755
184
-1,570
-7,141
30,944
30,944
————
eee
386,347
102,227
-189,990
298,584
$I
IN
£98,984|||| |Restricted Funds:||||| |Prize Fund|6,737|14||6,751| |Equestrian Club|11,227|17,601|-14,628|14,200| |StaffActivities|688|4,227|-2,084|-169| |SchoolTrips, Events, Activities, Music|36,690|42,668|-86,213|-6,855| |Charitable DonationsincludingJuliusLittle|5,375|4,450|-7,184|2,641| |PitchToPlayOn||215,886|-19,798|196,088| ||re
60,717
281,846
-129,907
212,656
—$—$—<
nr
er
12,090|||| ||eee
447,064
384,073
“319,897
511,240
8S
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