Charity number: 1062423 CHESHAM GRAMMAR SCHOOL FUND UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
CHESHAM GRAMMAR SCHOOL FUND REFERENCE AND ADMINISTRATIVE DEfAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Trustees Ms Annmarie McNaneyi Headteacher Mrs Martha Ware Mr Tim Patteson Charlty re8lstered number 1062423 Prfnclpal offlce Chesham Grammar School White Hill Chesham Bucks HP5 IBA Bankers Lloyds Bank PLC 79 High Street Chesham Buckinghamshire HPS IDE Page I
CHESHAM GRAMMAR SCHOOL FUND CONTENT5 Page Reference and admlnistrative detalls of the company, its Trustees and advisers Tru5tees' report Independent examiner's report Statement of financial activitie5 Balance sheet Notes to the financial statements 8toll
CHESHAM GRAMMAR SCHOOL FUND TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees present their annual report together with the financial statements of Chesham Grammar School Fund (the charity) for the year ended 31 August 2024. 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 IFRS 1021 effective l January 2015 and Charities Act 2011. l. Objertlves and actlvltles The principal object of the charity is to advance the education of students at Chesham Grammar School, assistin8 in the provision of facilities and fundin8 the enhancement of any school activity so that our students are exceptionally well prepared for life. In setting objecttves and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the 8uidance 'Public benef it: running a charity IP821'. 11. Flnanclal Review a. Investment policy ond performonce 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 preparin8 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. The trustees recognise the need to continue raisin8 funds for general use in the future. d. Finoncial risk monogement objectives ond 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 school trips achieve self funding and all extra curricular support is covered by parent donations. The risk therefore is delays in payment of parent trip fees andlor over commitment of extra curricular activities. Systems and procedures have been established to mitigate these risks. iii. Strurturel governance and management 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 oppointment of Trustee5 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. Organisationol structure and decision-moking 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 adminlster the income and expenditure which facilitate the best possible educational environment for CGS students includin8 the improvement of school facilities, development of resources, equestrian club,and other extracurricular activities. Ourlng 2024 funds are contributing to a capital project which will see the completion of a new multi-use artificial pitch in the late autumn. This new facility will significantly enhance the provision of PE and sport for CGS students, as well as supporting health and wellbeing through the improvement in the school's outdoor play space. b. Income The main source of income continues to be parent contributions and grants. Page 3
c. Expenditure The Fund has been used primarily to financially support upgraded school resources and facilities, as well as to support events that benefit students. 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.. lil select suitable accountin8 policies and then apply them consistentlv lill observe the methods and principles of the Charities SORP (FR5 102) {liil make jud8ments and accounting estimates that are reasonable and prudent {Iv} state whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial stalements Iv) prepare the f inancial statements on the going concern basis unless it is Inapproprlate 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 takin8 reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 10th March 2024 and signed on their behalf by.. 15_3_1J- A McNanev Trustee T Patteson Trustee Page 4
Inde endent Examiners Re ort on the Accounts of Chesham Grammar School Fund For the ear ended 31$1 Au ust 2024 Independent examiner's report to the trustees of Chesham Grammar School Fund I report to the trustees on my examination of the accounts of the Chesham Grammar School Fund for the year ended 31 August 2024. Responslbilities and basis of report As the charity trustees of the Trust. you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 ('the Act,). I 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 I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confinn 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 kepl in respect of the Trust as required by section 130 of the Act. or 2. the accounts do not accord with those records. I have no concems and have come across no other matters in connection wrth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mrs J M A Sorensen, MIAB The Accounting & Bookkeeping Bureau 30 School Close Holmer Green High Wycombe Bucks HP15 6SR
CHESHAM GRAMMAR SCHOOL FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 Restricted funds 2024 Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Charitable activities Interest Total Income 245,655 69,489 6,891 76,380 315.143 6,891 322,034 381.833 2,240 384,073 245,655 Expendlture on: Charitable activltles Total Expendlture 63,944 63,944 38.113 38,113 102,058 102,058 319,897 319,897 Net movement In funds 181,710 38,266 219,976 64,176 Reconclllatlon of funds: Total funds brought forward Net movement in funds Total funds carried forward 219,511 181,710 401.221 291,729 38,266 329,995 511,240 219,976 731,216 447,064 64,176 511,240 The Statement of financial activities includes all gains and losses recognised in the period. The notes on pages 9 to 11 form part of these financial statements Page 6
CHESHAM GRAMMAR SCHOOL FUND BALANCE SHEEfAS AT 31 AUGUST 2024 2024 2023 Notes Current Assets.. Debtors Cash and Bank 731.216 511.240 Creditors Net Current Assets 731,216 511,240 Total assets less current Ilabllltles 731,216 511,240 Net assets excludln8 pension asset 731,216 Sll,240 Total net assets 731,216 511,240 Charlty funds Restricted funds Unrestricted funds 12 12 401,221 329,995 219,511 291,729 Total Funds 731,216 511,240 The financial statements were approved and authorised for isssue by the Trustees on 10 March 2025 and signed on their behalf by: ILtr 1.25 A McNanev Trustee T Patteson Trustee The notes on pages 8 to 12 form part of these financial statements Page 7
CHESHAM GRAMMAR SCHOOL FUND NOTES TOTHE FINANCIAL sfATEMENTS FOR THE YEAR 31 AUGUST 2024 l. General Informatlon Chesham Grammar School Fund is a charitable trust registered in England and Wales (Charity Registration Number 1062423), the registered office address is Chesham Grarnmar School, White Hill, Chesham. HP5 IBA. The description of the charity's operations and its principal activities are as stated in the trustees report. 2. Accountlng policles 2.18as15 oApreporotlon offlnanclal stotements The financial statements have been prepared In accordance with the Charities SORP {FRS 1021 Accounting and Reportlng 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 IFRS 1021 (effective l January 20151, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 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 Charitie5 SORP IFRS 1021 published on 16 July 2014 rather than the Accountin8 and Reporting by Charities: Statement of Recommended Practice effective from l 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 entltlement to the income, it is probable that the income will be received and the amount of incorne receivable can be measured reliably. 2.3 Expendlture Expenditure is reco8nised once there is a le8al or constructive obli8ation to transfer economic beneflt 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 undertakin8 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 settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.6 Cash at bank ond 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 Uabllities and provlslons Liabilities are recognised when there is an obligation at the balance sheet date as a 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 recognlsed at the amount that the company anticipates it wlll pay to settle the debt or the arnount it has received as advanced payments for the goods or services it must provide. 2.8 Fund accountlng 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 fund5 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 raisin8 and administerin8 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. School Trips, Events, Activities, Music has moved to Unrestricted Funds as all trip income is now accounted for in Chesham Grammar Accounts so no need for this to be restricted. 3. Income from Charitable Actlvltles Restrlcted funds 2024 Unrestrlcted funds 2024 Total funds Totolfunds 2024 2023 Income from charitable activites School trips, events and activities 245,655 69,489 315,143 384,073 4. Investment Income Tott71funds 2023 Interest 6,891 6891 2235 Page 9
- Analysis of expenditure by artlvities A¢tlvitles undertaken Support Costs dlrectly 2024 2024 Totsl funds Totolfunds 2024 2023 School Activites Staff Contributions Expenditure from donations Equestrian Club 49,356 464 37,001 14,437 101,258 800 50,156 464 37,001 14.437 102,058 113,195 3,654 188,420 14.628 319,897 800
- Independent examiner's remuneratlon 2024 2023 Fees payable to the charity's independent examiner for the independent examination of the company's annual accounts 800 800
- Trustee's remuneratlon and expenses During the year no trustees received any remuneration or other benefits.12020 £NILI During year ended 30th June 2021 no Trustee expenses have been incurred. {2020 £NIL}
- Debtors 2024 2023 Due wlthln one year Other debtors Prepayments and accrued income
- Credltors: Amount falllng due wlthln one year 2024 2023 Accruals and deferred Income
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Flnanclal Instruments 2024 2023 Financial Assets: Cash 731,216 511,240 Financial Liabilities: Accruals Page 10
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Statement of Funds Statement of Funds- current Year Balance at I September 2023 Balance at 31 August 2024 Income Expenditure Unrestrlcted Funds School Development Fund Activities Staff Activities Parental Donations School Trlps, Events, Activities, Music 274,780 -6,855 -7,141 30,944 291,729 76,380 37,001 1,112 314,159 -7,967 -7,141 30,944 329,995 76,380 38,113 Restrlcted Funds: Prize Fund 6,751 6,751 Equestrian Club 14,201 14, 104 14,437 13,867 Staff Contributions -169 2,459 464 1,826 Charitable Donations 2,641 11,986 11,986 2,641 Pitch to Play On 196,088 217,106 37,058 376,135 219,511 245,655 63,945 401,221 511,240 322,034 102,058 731,216 Page 11
CHESHAM GRAMMAR SCHOOL FUND INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Independent examiner's report to the Trustees of Chesham Grammar School Fund I report to the trustees on my examination of the accounts of the Chesham Grammar School Fund for the year ended 31 August 2024. Responslbilltle5 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 I'the 2011 Act,). I report in respect of my examination of the company's accounts carried out under section 145 of the 201 1 Act and in carrying Out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5}{bl of the Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination givin8 me cause to believe that in any material respect: l. accounting records were not kept in respect of the company as required by section 130 of the Act. or 2. the accounts do not accord with those records. I 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. 31st January 2024 Mrs J M A Sorensen, MIAB The Accounting & Bookkeeping Bureau 30 School Close Holmer Green High Wycombe Bucks HP15 65R Page 5