Charity iegistration number: 1071840
Medeshamstede Education Trust
T￿ste¢s, Report and Financial Statements
for the Year Ended 31 December 2023
mca Banbury Itd
4- 6 The Wharfcentre
Wharf Street
Warwick
Warwickshire
CV34 5LB

Medesham5tede Education Trust
Contents
Reference and Administrative Detsils
Trustees, Report
2to5
Independent Auditors, Report
6t09
Consolidated Statement ofFinancial Activities
iotoii
Consolidated Balance Sheet
12
Balan¢¢ Sheet
13
Consolidated Statement of C￿h Flows
14
Notes to the Financia] Statements
15to27

Medeshamstede Edueatlon Trust
Reference and Administrative Details
Truslees
Russell Mark Evershed
Myles Cook
Dan Lyon
Tim Percival
Craig Turner
1071840
Charity Registration Number
Prlncipal Office
Breckland Park School
Ecot¢Gh Centre
Turbine Way
Swaftham
PE37 7XD
Auditor
mca Banbury Itd
4 - 6 The Wharfcentre
Wharf Street
Warwick
WaTwickshire
CV34 5LB
Bankers
National Westminster Bank pl
POBoxNo. 15
Cathedral Square
Peterborough
PEI IHW
Page I

Medeshamstede Education Thist
Trustees, Report
The Trustees present their report with the financial statements of the charity for the year ended 31 st December
2023, The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of
R¢¢ommended Practice applicable to charities prepaTing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS102) (effective l January 2019).
Objectives and activities
Objecis and aims
The charitsble objects of the charity are the advancement of the education of children and young people from
the ages five to eighteen in particular by assistance to their parents to enable such children to be taught
oihenvise than at school as defined in the education acts 1944 to 1993. Any other charitabl¢ pu4)ose for the
benefit of the brethren.
In furtherance of its objects, the Trust provides one premise under fornMI lease for an independent school based
in Swaffliam, which has been run by Oneschool Global UK (OSGUK).
The charity also provides donation funding to OSGUK at the discretion of the Tn￿te¢S in order to enable
OSGUK lo provide a well-balanced education at primary and secondary levels, for children and young people
whose parents appreciate the Christian ethos.
Success is measured in tenns of the provision of appropriate facilities to OSGUK whilst minimising
expenditure. This in turn, frees up funds for raising standards of education for all concerned and for the
improvement of facilities for pupils and staff alike.
The Trustees have refe￿ed to the guidance contained in the Charity Commission's general guidance on public
benefit and have regard to it when reviewing their aims and objectives, and in planning their future activities. In
particular they consider how planned activities will contribute to the educational aims and objectives they have
set.
Volunteers are an integral part of the community ethos and values of the charity and there are strong and willing
group of volunteers who assist at)d support the charity throughout the year.
The trading activities of the charity's trading subsidiary Nexus Team Ltd {Company number 07094943), which
operdtes a chain of convenience stores, are undertaken by volunt¢¢rs.
Objeclives, slraiegies and activilies
Throughout the year the charity has continued to provide educational pr¢mises in support of the educational
aclivities of OSGUK.
The charity has a wholly owned subsidiary ¢ompany, Nexu5 Team Ltd which undertakes trading adivities. All
profits chargeable to corporation tax are gifted to the charity in support of the charitable activities of the charity.
Page 2

Medeshamstede Education Trust
Trustees, Report
Achievements and performance
Fillallcial review
The charity is supported and financed principally by profits from its trdding subsidiary Nexus Team Ltd plus
other ad hoc donations and those raised by fiujdraising events and grdnts from the Grace Trust. The TTUStees
believe that the charity's fiLn(Ls are sufficient to mitigate any short to medium tern] risk of reduced funding.
The charity's fundraising events principally operate within the Brethren community and professional fundraisers
arc not used. Ncither th¢ Charity nor any person acting on behalf of ihe charity was subject to an undertaking to
be bound by any voluntary scheme for regulating fund-raising, OT voluntary standard for fund-raising in respect
of activities on behalf of the tTUSt.
In the year ended 31st DecembeT 2023 the Charity reporteda net surylus of £152,334 (2022 surplus of
£312,548). The group Teported a net surplus of £76,319 (2022 surplus of £258,682).
At the year end the charity had net current assets of £2,501 (2022 net current assels of £89,702). The group
had net cu￿ent assets of £288,144 (2022 net current assets of £306,528).
The charity's policy is to maintain minimum free reserves al a level which equates to six months, unrestricted
expenditure. This is app roximately£7,582. At the year end 2023 the free reseTves of the charity were
£1,360,134 (31stDeG¢mber 2022 £1,512,468).
After making appropriate enquiries. the TTUStees have a rcasonable cxpectation that the charity has adequate
resources to continue Rn operational existence foT the foreseeable future. For this reason, it continues to adopt the
going concern basis in preparing the financial statements. Further details regarding thc adoption of the going
concern basis can be found in the Accounting Policies.
Plans for future perlods
Aims andkey objeclivesforfmlureperiods
The Trustees plan to continue to support OSGUK to PTovide a quality and deliver a Consistent and high level of
educational experience and outcome for all student5 and staff, in accordance with tbe Charity's ethos and values.
Page 3

Medeshamstede Education Trust
Trustees, Report
Structhre* governance and management
Ivature ofgoiJ¢rniAg document
Medeshamstede Education Tn￿t is constituted by a Deed of Trust dated 3103 1998, amended 12 08 2008 and is
registered with the Charity Commission for England and Wales.
The Trustees who served during the year and since the year end are set out on page l. None of the Trustees, nor
any person connected with them, received any remuneration from the charity in the year ended 315t December
2023 fyear ended 3 1st December 2022 £nil).
The power to appvint Trustees is invested in thc cxisting Tn￿leeS subject to the charity Deed requiremenl.
Trustees aTe seleded accoTding to thcir own spccialism in a particular field and are expected to pursue that
specialism. New Trustees are instructed in the n¢cd to compl¢t¢ly adh¢r¢ to th¢ ethos and values of the Charity.
New Trustees are appointed at charity meetings and training is given by the outgoing trustee being replaced,
along with support from fellow Trustees.
Page 4

Medeshamstede Edueation Trust
Trustees, Report
Statement of trustees, responsibilities
The Trustee5 are responsible for preparing the Annual Report and the fmancial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England and Wales requires the TTUStecs to prepare financial statements for
each financial year which give a true and fair view of the state of affairs of the charity and the group and of the
incoming rcsourccs and application of resources of the charitable group for that pcriod. In prq)aring these
financial statcmcnts, the Tn￿te¢S are required to:
select suitable accounting policies and then apply them con51Stently-
' observe the methods and principles in the Charities SORP.
' make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have b¢¢n followed, subject to any rnaterial departures disclosed
and explained in the financial statements.
prepgtt the f]nancial staten)ents on the going concern basts unless it is inappTopriate to presume that the
charity and group will continue in business.
The Trustees are responsible for keeping prop¢r accounting records that disclose with reasonable accuracy at
any time the fmancial position of the charity and th¢ group and enable thern to ensuTe that the financial
statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the
provisions of the charity deed. They are also responsible for safeguarding the assets of the charity and the gTOUP
and hence for taking reasonable steps for ihe prevention and detection of fraud and other irregularities.
The annual report was approved by the tTUStees of the charity on. ...
. and signed on its behalf by:
Dan
Trust¢e
on
Page 5

Medeshamstede Education Trust
Independent Auditor's Report to the Members of Medeshamstede Education Trust
Oplnlon
We have audited the financial slatements of Medeshamstede Education Trust (the 'charitable parent company)
and its subsidiaries (the 'group') for the year ended 31 December 2023, which ¢omprise the Consolidated
Statement of FinanLial Activities. Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash
Flows and Notes to the Financial Statements including a sumnwy of significant accounting policies. The
financial reporting framework that has bcen applied in their Preparation is United Kingdorn Accounting
Standards, comprising Charitie5 SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland, and applicabl¢ law (United Kingdom Generdlly Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the group's and parent charity's affairs as at 31 D¢cember 2023 and of
its incoming resouTce5 and appli¢ation of resources, including its incotlle and expenditure, for the year then
have been properly prepared in accoTdance with United Kingdom Generally Ac¢¢pted Accounting Practice"
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinfion
W¢ conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. OUT responsibilities under those standards are further described in the auditor responsibilities for
the audit of the financial 5tatement5 section of our report. We are independent of the group in accordance with
the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S
Ethical Standard, and we have ￿lfilled our other ethical responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for OUT
opinion.
Conclusion5 relating to going ¢on¢¢rn
In auditing the fin￿Cial statcmcnts, we have concluded that the trustees use of the going concern basis of
accounting in thc prepdration of the financial statements is appropriate.
B&8cd on the work we have perfornied, we have not identified any material uncertainties Telating to events or
conditions that. individually or collectively, may cast signtficant doubt on the group's ability to continue a8 a
going concern for a period of at least twelve months from when the original financial statements werc authoriscd
for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other fjnformation
The twslees are responsible for the other inforniation. The other inforniation comprises the inforniation iD¢luded
in the annual r¢po¢ oth¢r than the financial statements and our auditor's report thereon. Our opinion on the
financial statement5 do¢s not ¢ov¢r the other inforniation and, except to th¢ extent otherwise explicitly stated in
our report, w¢ do not express any forni of assurance conclusion th¢reon.
Page 6

Medeshamstede Education Trust
Independent Auditor's Report to the Members of Medeshamstede Education Trust
In connection with our audit of the fu￿]c1a1 slatements, our responsibility is to Tead the other inforniation and,
in doing so, consider whether the other infornmtion is n)aterially inconsistent with the f￿anCIal statements or
our knowledge obtained in the audit or otherwise appears to be materially misstat¢d. If we id¢ntify such material
inconsistencies or apparent material misslalements, we ar¢ requir¢d to detennine whether theTe is a material
misstatement in the financial statements or a material misslatement of the other inforn]ation. If, based on the
work we have perfornied, we conclude that there is a material misstatement of this other inforn)ation, we are
required tt> report that fact.
We have nothing to report in this regard.
Opinion on other matter prescrlbed by the Companies Act 2006
In our opinion, based on the Work undertaken in the course of the audit:
the inforniation given in the and Trustees, Report for the financial year for which the f￿ancial statements are
prepared is consistent with the financial sta*ments- and
the T￿￿te¢s, Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exeeption
In the light Of our knowledge and understanding of the group and the parent charitable company and its
¢nvironment obtained in the course of the audiL we have not identified material rnisstatements in the and the
Truslees, Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to
report to you if, in our opinion:
adequatc accounting re¢ords have not been kept by the parent charitable company, or returns adequate for
our audit have not been Teceived from branches not visited by us. or
the parent charitable company financial statements are not in agreement with the accounting records and
ertain disclosures of trustees. remuneration specified by law are not made. or
we have not received all the inforniation and explanalions we require for our audit,
Responsibllltle$ of trustees
As explained more thlly in the Statement of trust¢es' responsibilities (set out on page 5), the trustee5 are
responsible for the preparation of the fu￿ncial slatements and for being satisfied that they give a true and fair
view, and for such internal control as the trustees detemiine is necessary to enable the prepardtion of financial
statements that are free from material misstatem¢nL wheth¢r due to fraud or eTror.
In preparing the financial statements, Ihe trustees are responsible for assessing the charity's ability to continue as
a going concern, disclosing, as applicable, matters related io going concern and using the going concern basis of
accounting unless the t￿Stee8 either intmd to liquidate the charity or to cease operations, or have no realistic
alternative but to do so.
Auditor responsibilities for the audlt of the flnan¢ial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditOT'S Teport that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect 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 to influence the economic decisions of users tsken on the basis of these financial statements.
Th¢ extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Page 7

Medeshamstede Education Trust
Independent Auditor's Report to the Members of Medeshamstede Education Trust
The engagen]ent partner en5UTed that the engagement team collectively had the appropriate Competence,
capabililies and skills to id¢ntify or recognise non-compliance with the applicable laws and Tegulations.
We assessed the sus¢eptibility of the ¢ompany's financial statements to material misstatement, including
obiaining an understanding of how fraud might occur, by:
Making enquiries of management as to where they considered thcrc was $usccptibility to frau¢ their
knowledge of actual, suspected and alleged fraud; at)d
Considering the internal controls in place to mitigat¢ risks of fraud and non-compliance with law5 and
regul￿loDS.
To address the risk of fraud through management bias and override of controls, we..
Perfom]¢d analyti¢al pro¢edure5 to identify any unusual or unexpected relationships;
Tested journal entries to Èdentify unusual transactions.
Assessed whether judgem¢nt5 and assumptions made in detennining the accounting estimates were
indicative of potential bias. and
Investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-cornpliance with laws and regulations, we designed procedures
which included, but were not limited to:
Agreeing financial statement dis¢losures to underlying supporting documentation
Enquiring of management ￿ to actual and potential litigation and claims.
There are inherent limitations in our audit Procedures described above. The more removed those laws and
regulations are from financial transactions, Ihe less likely it 15 that we would become aware of non-compliance.
Auditing standards also limit the audit Procedures required to identify non-compliance with laws and regulations
to enquiry of the directors and other management. Material misstatements that arise due to fraud can b¢ harder
to d¢t¢ct than those that arise from error as they may involve deliberate concealment or collusion.
As part of an audit in a¢cordan¢¢ with ISAS (UK), we exercise professional judgement and mairAtain
professional s¢epti¢ism throughout the audit. We also".
Identify and assess the risks of material misslatement of the financial statements, whether due to fraud or
error, design and perfoml audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion, The risk of not detecting a material
misslatement resulting from fraud is higher than for one resulting from e￿Or, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the OVaTide of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the puryose of expressing an opinion on the effectiveness of the
company's internal control.
Evaluate the appropriateness of accounting poli¢ies used and the reasonableness of accounting estimates and
relatd disclosures made by the diTector5.
Conclude on the appropriateness of the directors, use of the going concern basis of accounting and, based on
the audit evidence obtained, whether a malerial uncertainty exists related to events or conditions that may
cast significant doubt on the Charity's ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our Rq)ort of the AuditOTS to the related disclosures
in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or
¢onditions may cause the c¢Jrnpany to cease to continue as a going concern.
Page 8

Medeshamstede Education Trnst
Independent Auditor's Report to the Members of Medeshamstede Educatlon Trust
Evaluate the overall presentation, structure and content of the fmancial statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that
achieves fair PTe8entation.
We define materiality as the magnitude of misstafrment in the Financial Stat¢ments that makes il probable
that the economic decisions of a reasonably knowledgeable person would be changed or influenced. We use
mat¢riality both in planning and in the scope of our audit work and in ¢valualing ihe r¢sults of our work.
We communicate with thosc charged with governance regarding, among other matters, the planned scope and
timing of the audit Mnd sigmificant audit findings, including any significant deficiencies in internal control that
we identify during our audit.
Use of our report
This TCPOrt is made solcly to thc charitable parent company's tn￿tees. as a body, in accordance with Chapter 3
of Part 16 of the Companies Act 2006. OUT audit work has been undertaken so that we might state to the group's
tn]stees those rnatters we arc rcquired io state to them in an auditor's report and for no other purpose. To the
fullest extent p¢rn)itted by law, w¢ do not accept or assume responsibility to anyone other than the charitable
parent company and its tr￿StC¢S as a body. for audit worL for this report, or for the opinions we have
forn]ed.
Martin Cox (Senior Statutory Auditor)
For and on b¢half of m¢a Banbury Itd, Statutory Auditor
4- 6 The Wharfcentre
Wharf Street
Warwick
Warwickshire
CV34 5LB
12109124
Page 9

Medeshamstede Edueation Trust
Conso]idated Statement of FinaDclal Activities for the Year Ended 31 December 2023
(Including Consolldated Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
fund$
Total
2023
Note
IDcome and Endowments from:
Donations and legacies
Charitable activities
Other in¢ome
575
5,1)00
2258,759
575
5,000
2,258,759
Total incon]e
2264,334
2,264,334
Expenditure on:
Raising funds
Charitable activities
(1,966,789)
(376,403)
(1,966,789)
(376,403)
Total expenditure
(2,343,192)
(2,343,192)
Net expenditure
(78,858)
(78,858)
Net movement in funds
(78,858)
(78,858)
Reconciliation of funds
Total funds brought forward
Total funds caTried forward
1,873,941
1,873,941
17
1,795.083
Unrestricted
fiwds
1,795,083
Total
2022
Note
Income and Endowments from:
Donations and legacies
Charitable aLtivitie
Other income
377,452
2,767
1,891,151
377,452
2,767
1,891,151
Total income
2,271,370
2,271,370
Expenditure on:
Raising fimiL8
Charitable activities
(1,704,017)
(308,671)
(1,704,017)
(308,671)
Total expenditure
(2,012.688)
(2,012,688)
Net in¢ome
258,682
258,682
Net movement in funds
258,682
258,682
Reconciliation of funds
Tota] funds brought forward
Total fimds carried forward
1,615,259
1,615,259
17
1,873,941
1,873,941
The notes on pages 15 to 27 forn] an integral part of these financial statements.
Page 10

Medeshamstede Education Trust
Consolidated Statement of Finaneial Activltles for the Year Ended 31 December 2023
(Ineludlng Consolidated Income and Expendlture Account and Statement of Total
Recognised Gains and Losses)
All of the group's activities derive from continuing operations during the above two periods.
The funds breakdown for 2022 is shown in note 17.
The notes on pages 15 to 27 forni an integrnl part of these financial statements.
Pagell

Medeshamstede Educatlon Trust
Consolidated Balance Sheet as at 31 December 2023
2023
2022
Note
Fixed assets
Tangible &ssets
11
1,506,939
1.567.413
Current a55ets
Stocks
Debtors
Cash at bank and in hand
13
14
15
197.835
39.783
221,408
183,476
31,770
259,959
459,026
475,205
Credltors: Amounts falling due within one year
16
(170.882)
(168,677)
Net eurrent assets
288.144
306,528
Net assets
Funds of the group=
Unrestricted income funds
Unrestricted funds
1.795.083
1,873,941
Total funds
17
ncial statements on pages 10 to 27 were approved by the Trustees, and authorised for issue on
lo'.¥dnd signed on theiT bchalf by:
yon
Trustee
The notes on pages 15 to 27 fonn an integral part of these financial slatements.
Page 12

Medeshamstede Education Trust
Balance Sheet as at 31 December 2023
2023
2022
Note
Flxed assets
Tangible assets
Investments
1,357,631
1,422,764
1,357,633
1,422,766
Current assets
Debtors
Casb ai bank and in haj
14
15
3.443
96,278
25,964
25.9(A
99.721
Creditors: Amounts falling due within one year
16
(23,463)
(10,019)
Net current Assets
2,501
89,702
Net assets
1.360,134
1,512,468
Fullds of the charity:
Unrestricted ineome funds
Urrestrfficted funds
1,360,134
1,512,468
Total fuDds
17
1,360.134
1,512,468
anvial statements on pages 10 to 27 were approved by the Trustees, and authorised for issue on
signcd on th¢ir b¢half by:
on
Tn￿tee
The notes on pages 15 to 27 forn] an integral part of these fmancial stat¢m¢nts.
Page 13

Medeshamstede Educatlon Trust
Consolidated Statement of Cash Flows for the Year Ended 31 December 2023
2023
2022
Nots
Cash flows from operating activities
Net cash (expenditureyincome
(78,858)
258,682
Adjustments to cash flows from non-cash items
Depreciation
126,353
87,927
47,495
346,609
Working capital adjustments
In¢T¢ase in stocks
Incr¢as¢ in debtors
In¢rease in creditors
13
14
16
(14,360)
(8,0131
2,206
(36,115)
(38,050)
70,798
Net cash flows from operating activities
27,328
343,242
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
li
(78,406)
12,527
(351,613)
Net cash flows from investing activities
{65,879)
(351,613)
Net de¢rease in cash and cash equivalents
Cash and cash equivalents at l January
Cash and cash equivalents at 31 December
{38,551)
259,959
(8,371)
268,330
221,408
259,959
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 15 to 27 forni an integral part of these financial statements.
Page 14

Mede5hamstede Education Trust
Notes to the Financial Ststements for the Year Ended 31 December 2023
I Charity status
The Medeshamstede Education trust is an unincorporated charity (no.. 1071840) registered in England and
Wales. The registered address is Breckland Park School, Ecotech Cenlre, Turbine Way, Swaffliam, PE37 7XD.
2 AccountiDg policies
Summary of significant accounting policies and key accounting eslimates
The principal accounting policies applied in the PTepaTation of these financial slatements aTe sel out below.
These policies have been consistently applied to all the y¢aTS presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Statemenl of Rewmmended Pradice (applicable to charities preparing their accounts in a¢cordance with the
Financial Reporting Standard applicable in the UK and Republic of lTeland (FRS 102)} (issued in October 2019)
(Charities SORP {FRS 102)), th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) and the Companies Aci 2006.
Basls of preparation
Medeshamstede Education Trust meets the definition of a public benefit entity under FRS 102. Assets Imd
liabilities are initially recognised at histori￿1 wst or transaction value unless otherwise stated in the relevant
accounting policy notes.
Basis of consolidation
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidatc thc
financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary arc consolidatcd
on a line-by-line basis.
Th¢ Cl]arity has also taken advantage of the exemption available to a qualifying entity in FRS 102 from the
requirement to present a Charity only statement of cash flows and c¢rtain disclosures about the Charity's
financial instruments within the consolidatsd financial stst¢m¢nt$.
No separate SOFA has been prepared for the Charity alon¢.
Going concern
The trustees consider that there ar¢ no material uncertainties about the group's ability to continue as a going
ncern nor any significant areas of unc¢rtainty that aff¢¢i th¢ Carrying value of assets held by the group.
Page 15

Medeshamstede Educatlon Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
Income and endowments
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 incorne reeeivable can be measured reliably.
The recognition of income from legacics is dependent on establishing entitlement, the probability of receipt and
the ability to estimate with sufficieut accuracy thc amount receivable. Evidence of entitlement to a legacy exists
when the ChaTity h&s sufficient evidence that a gift has been left to them (through knowledge of the existence of
a valid will and the death of thc benefactor) and the executor is satisfied that the propety in question will not be
rquired to satisfy claims in thc estst¢, Reccipt of a legacy must be recognised when it is probable that it will be
received and the fair value of the amount receivable. which will generally be the expected cash amount to be
distributed to the Charity, can be reliably measured.
Grants are included in the Consolidated .8tsfrmcnt of financial activities on a receivable basis, The balance of
income received for specific pU￿)05¢S but not expendcd during the period is shown in the relevant funds on the
Balance sheet. Where income IS received in advance of entitlement of receipt, its recognition is deferred and
included in creditors as deferred Income. Where entitlement occurs before income is received, the income is
accNed.
Income tax recoverable in relation to inveslment income is recognised ai the time the investment income is
r￿Civable.
Expenditsre
All ¢xp¢nditure 15 r¢cogni5ed once there is a legal or constructive obligation to ihat expenditure, it is probable
settl¢ment is required and tbe amount can be measured reltably. All costs are allocated to the applicable
¢xp¢nditure heading that aggregate similar costs to that category. Wh¢r¢ costs cannot be directly attributed to
particular h¢adings th¢y have been allo¢at¢d on a basis consistent with the use of resources, with central staff
costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Oth¢r support costs are allocated based on the spread of staff costs.
Support costs
Support costs include central functions and hav¢ becn allocated to activity cost categories on a basis consistent
with the use of resources, for example, allocating prop¢ty costs by floor areas. or per capita, staff costs by the
time Spent and other costs by their usage.
Governance eosts
These include the costs attributable to the charily's compliance with constitutional and statutory requireTT]ents.
including audit, strxtegic managemenl and trustees. meetings and reimbursed expenses.
Tangible fixed assets
Tangible r￿ed assels costing £500 or more are capilalised and reCO￿lSed when fiJtUTe econom7c benefits are
probabl¢ and thc cosl or valu¢ of ihe ass¢t can b¢ m¢asur¢d reliably.
Tangible f￿ed assels are initially recognised at cost. After recognition, under the cost model, tangible fixed
assets are measured at cost less a¢cumulat¢d depreciation and any accurnulated impairnient losses. All costs
incurred to bring a tangible fixed asset into its intended working condition should be included in the
measurement of cost.
Page 16

Medeshamstede Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
Depreciation and amortisation
Depreciation is charged so as to allocate the Cost of tangible f]xed assets less their residual value over their
estlmated useful lives. Assets costing less than £500 are written off to the SOFA in the year of purchase.
Asset cla
FTeehold PToperty
Plant & Machinery
t£asehold propety
DepreeAation method And rats
20/0 Straight Line
200/. Straight Line
IOO/. Straigbt Line
Current asset investments
Fixed asset investments are a forni of financial instrument and are initially recognised at their transaction cost
and subsequently measured at fair value at the Balance sheet date. unless the value cannot be measured reliably
in which case it is measured at cost less impairnient. Investment gains and losses, whether realtscd or unrcalise
are combined and presented as 'Gainsl(Losses) on inv¢stments' in the Consolidated statement of fmancial
activities.
tnvestments in subsidiaries are valued at cost less pmvision for impainnent.
Stock
Stocks aTe valued at the lower 4)f cost and nel realisable value after making due allowance for obsolete and
slow-movtng stocks. Cost includes all direct costs and an appropriate pmportion of fixed and variable
overheads.
Trade debtors
Trad¢ 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.
Liabilities and provisions
Liabiltties 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 settlevnent, and the amount of thc scttlement can
be estirnated reliably.
Liabilities are recognised at the amount that the Charity anticipates It will pay lo settle the debt or th¢ amount it
has received as advanced payments for th¢ goods or services it must provide.
Conces$ioDary loans
Concessionary Irpans include those payable to third parties which ar¢ interest free or below market interest rates
and are Jjmde to advance charitable puLTroses.
Page 17

Medeshamstede Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
Fund strllethre
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance
of the general objectives of the Group and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specifi¢ restrictions imposed by donors or
which havc b¢en raised by the Group for particular purposes, The costs of raising and administering such funds
are charged against the specific fund. Th¢ 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 f4md.
Finaneial Instruments
Classificatson
Financial assets alld financial liabilities are recognised when the group becomes a party to the contractual
provisions of the instrumcnt.
Financial liabilities and equity instrumcnts are classified according to the substance of the contractual
arrangements entered into. An cquity instrument is any contract that evidences a residual interest in the assets of
the group after deduclillg all of its liabilitics.
3 IDcon)¢ from donation5 and legacies
Unrestricted
funds
General
Total
funds
Gifts and donations
575
575
Total for 2023
Total for 2022
4 Ineome from charitable artivities
Ullrestrlcled
funds
General
Total
funds
Rental Income
5,000
Total for 2023
Total for 2022
Page 18

Medeshamstede Education Trust
Notes to the Finr4ncial Statements for the Year Ended 31 December 2023
5 Income from other trading activities
UDrestricted
fuDds
General
Total
funds
Trading Income - Nexus Team Limited
2,258,759
2,258,759
Total for 2023
Total for 2022
6 Expenditure on raising fvnds
a) Costs of trading activities
Unrestrlcted
funds
General
Total
funds
Notr
Trading costs - Nexus Team Limited
1,966,789
1,966,789
Total for 2023
789
Total for 202Z
1.104.017.
7 Expenditure on Charitable activities
Unrestrieted
funds
General
Totsl
funds
Note
Charitable Activities
376,403
376,403
Total for 2022
08
Page 19

Medeshamstede Education Trust
Notes to the Finanelal StP4tements for the Year Ended 31 Deceniber 2023
8 Analysis of support costs
Support costs allocated to cbaritable aetivfitles
Premises
costs
Governance Admitiistration including
costs
costs
depreciation
Other
support
costs
Totsl
2023
Charitable Activities
722
20
Premises
C05t5
Governance AdmiDlStration including
costs
depreciation
Other
5upporl
costs
Total
2022
Charitable Activities
400
-058
Other support costs are donations made to OSG.
Staff costs are nil. The Medeshamsrede Education Trust Is run entirely by volunteers.
During the year The Medeshamstede Education Trust adjusted their deprecialion policy which has led to an
adjustment to the depreciation recorded in the year.
Page 20

Medeshamstede Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
9 Trustees, remllneratlon and expenses
No tNstees, nor any persons connected with them, have re¢¢ived any remuneration from the group during the
year.
No trustees have ￿¢¢1y¢d any T¢imbursed expenses from the charity during the year.
10 Auditors. remuneration
2023
2022
Other fees to auditors
The auditing of accounts of any associate of the charity
All other non-audit services
4,000
2,000
4,000
2,000
Page21

Medeshamstede Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
11 Tangible fixed assets
Group
Land and
buildings
Furllithre and
equfipmenl
Totsl
Cost
At l January 2023
Additions
Disposals
2,220,187
69,008
(12,527)
94,952
9,398
2,315,139
78,406
(12,527)
At 31 December 2023
2,276,668
104,350
2,381,018
Depreclatlon
At l January 2023
Charge for ihe year
686,617
123,715
61,109
2,638
747,726
126,353
At 31 December 2023
810,332
63,747
874,079
Net book value
At 31 December 2023
1,466,336
40,603
1,506,939
At 31 December 2022
1,533,570
33,843
1,567,413
Charity
Land and
buljdlngs
Total
At l January 2023
Additions
Disposals
2,077,685
58,738
(12,527)
2.077,685
58,738
(12,527)
At 31 December 2023
2,123,896
2,123,896
Depreciation
At l January 2023
Charge for the year
654,921
111,344
654,921
111,344
At 31 December 2023
766,265
766,265
Net book value
At 31 December 2023
1,357,631
1,357,631
Ai 31 December 2022
1,422,764
1,422,764
Page 22

Medeshamstede Education Trust
Notes to the Finallcial Statements for the Year Ended 31 December 2023
12 Fixed a55et iDvestments
Charity
Shares in group undertakings and partlelpating intsrests
Subsidiary
undertakings
Total
Cost
At l January 2023
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
Details of undertakings
Details of the investments in which the clwity holds 2(￿/0 or more of the nominal value of any class of share
capital are as follows-
Country of
incorporation
PropordoD of votiDg rights Principal
and share5 held
activity
Undertaking
2023
2022
Subsidiary undertakings
Nexus Team Limited
United Kingdom
IIK)Q/o
Sale
Retails goods
13 Stock
Group
Charity
2023
2023
2022
Stocks
14 Debtor5
Page 23

Medeshamstede Educatlon Trust
Notes to the Financial Statements for the Year Ended 31 DeceD]ber 2023
Group
Charity
2023
2022
2023
2022
Trade debtors
Prepairynents
Oth¢r debtors
30,771
6,011
3,001
10,489
3,000
18281
3,443
15 Cash and cash equivalents
Group
Charfity
2023
2022
2023
2022
Cash at knk
25.
16 Creditor5: amounts falling due withln one year
Group
Charity
2023
2022
2023
2022
Trade creditors
VAT grant repayable
Other creditors
AcC￿alS
105,321
9,953
13,172
42,436
133,871
958
24,848
9,000
(10.252)
320
(i)
33,396
4,435
833
4,750
-882
Page 24

Medeshamstede Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
17 Fund$
Group
Balance at31
December
2023
Balance at I
January 2023
Incoming
resources
Resources
expended
Unrestricted funds
General
B2laD¢e 2t31
December
2022
Balance at I
January 2022
Intoming
resourees
Resources
expended
Unrestricted ￿ndS
General
J.7.0
88
Charity
Balance at31
December
2023
Balance at I
January 2023
Incoming
resources
Resources
expended
Unrestricted funds
General
1512469
Balan¢¢ at 31
December
2022
Balance at I
January 2022
Incoming
resources
Resources
expended
Unrestricted funds
General
1512468
Page 25

Medeshamstede Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
18 Analysis of net assets between funds
Group
Unrestricted
fund5
General
Total funds at
31 December
2023
Tangible fixed assets
Current &ssets
Current liabilities
1,506,939
459,026
(170,882)
1,506,939
459,026
(170,882)
Total net assets
Unrestricted
fund5
General
Totydl funds at
31 December
2022
Tangible f￿ed assets
Current assets
Current liabilities
1,567,413
475,205
(168,677)
1,567.413
475,205
(168,677)
Total net assets
Page 26

Medeshamstede Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
Charity
UDrestri¢ted
funds
General
Total funds at
31 December
2023
Tangible fixed &s8ets
Fixed asset investtncnts
Current assets
cll￿ent liabilities
1,357,631
1,357,631
25,964
(23,463)
25,964
(23,463)
Total net assets
Unrestritted
funds
General
Total funds at
31 December
2022
Tangible fixed &ssets
Fixed &sset investments
Current ass¢ts
Current liabilities
1,422,764
1,422,764
99,721
(10,019)
99,721
(10.019)
1512468
Total net assets
19 Related party traDsa¢tions
Charity
As stated in Note 12, Nexus Team Limited was a wholly owned subsidiary undertaking of the Charity. £218.493
was received by the Charity from the subsidiary under gift aid.
Page 27