Charity Registration No. 1093894 NUFFIELD COUNTY PRIMARY SCHOOL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Yshawgibbs
NUFFIELD COUNTY PRIMARY SCHOOL TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees A Dellor. Chair and Treasurer J Barry. Co-secrelary G Hardwick. Treasurer S Van der Mark S Veitch L Hlllier. Co-secretary S Foister Charity number (England and Wales 1093894 Principal address Berry House Nuffield Henley-on-Thames Oxfordshire RG9 SSS Independenl examiner Shaw Gibbs Limited 264 Banbury Road Oxford OX2 7DY Oxford OX2 7DY CAF Bank 25 Kings Hlll Avenue Kings Hill West Maling Kent ME19 4JQ Bankers Investment advisors Charles Stanley & Co Limited 2nd Floor Willow Court West Way Minns Business Park Oxford OX2 OBJ
NUFFIELD COUNTY PRIMARY SCHOOL TRUST CONTENTS Page Truslees, report Independenl examiner's report Statement of financial activities Balance sheet Notes to Ihe financial statements 7-13
NUFFIELD COUNTY PRIMARY SCHOOL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Irustees present their annual report and financial statements for the year ended 31 March 2025. The financial slatements have been prepared in accordance with the accounting policies set oul in nole 1 to the financial statement5 and comply with the chartty's goveming document. the Charitie5 Act 2011. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP 'Accounting and Reporting by Charities.. Stalemenl of Recommended Praclice applicable to charilies preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" Objectives and activities The objects of the charity are= The provision of items, services and facilities for the County Primary Schools that are attended by the children oflhe Parish as the trustees decide Promoting the education (induding soryal and physical training) of persons under the age of enty-fIVe years resident in the Parish. Public benefft The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Activities The effect of the economic slowdown has continued to irnpact on the Trust during the past year. We have continued to hold our meetings and have decided to impose stricter limits on grants for Primary School I Secondary School I University students. to a maximum of £6.000 each tem. Achievements and perfonnance Significant activities and achievements against objectives The Trust conlinues lo meet regularty lo assess the economic and poltlical climale and will adjust its investmenl strategy and level of disbursements in order to protect the capital invested by the Trust. We have made sure that priority is given to Primary School aged children, as the fvnd was originally set up with money from Ihe sale of the Primary School. Grants have been awarded to individuals for a variety of extra-curricular activities including music, dance, drama and sport. We have also been able to award grants lo help with Universty costs for several of our local youngslers. This has fulfilled our objeclive of promoting the educalion (including social and physical Iraining) of persons under the age of 25. Grantrymaking policy Decisions as to whelher a grant should be made and, if so, how much Ihat grant should be, are taken by those Truslees present at each meeting and are based on a majority decision.
NUFFIELD COUNTY PRIMARY SCHOOL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review Investment funds The Charity has investments in separate accounts. Low risk account- this account aims to take a low risk and produce a desired level of income but not necessarily invest for growth. The funds in this account reflecl the amount under investment when the Trust was first set up, thereby protecting this original capital investment during financial turbulen Medium risk account.. this account aims to take a rnedium low risk for potentially improved returns from investments. The ndS in this account reflect the income generated since the Trust was originally set up, Ihereby enabling ongoing growlh but not impacting the original capital investmenl. Investments seleclion policy We continued to use the services of a stockbroker frorn Charles Stanley to help us get the best return for our money and a progress report on the state of our funds will be induded in our Treasurerfs report. We will. as previously agreed. continue to monitor our Fund growth with Charles Stanley to ensure that it is meeting our requirements. Plans for the future We look forward to the coming year and the challenges that face the Trusl in continuing to increase awareness of the Trust's existence and offering financial assistance to more of our local youngsters. Reserves policy The Trusl originally received a sum of £595,760, being the proceeds from the sale of part of the land formedy belonging to Nuffield Country Primary School. The aim of the Trust is to preserve the original amount of the capital and, where possible, to set aside a sum sufficient to allow for annual inflation. Expenditure from this sum would be al the discrelion of the Truslees. The unrestricted reserves currentty stand at £174,413 (2024= £160,942). The restricted reserves {endowment fund) currently stand at £595.76012024'. £595.760). Structure. governance and management The Nuffield County Primary School Trust is an unincorporated charity, constituted under a trust deed dated 16 August 2001 and is a regislered charity number 1093894. registered in England and Wales. The Iruslees who seNed during the year and up to Ihe date of signature of the financial statemenls were.. A Dellor, Chair and Treasurer J Barry, Co-secretary G Hardwick. Treasurer S Van der Mark S Veitch L Hlllier, Co-secrelary S Foister Recruitment and appointment of tnistees New Trustees need to be nominated by another Trustee, then seconded by another Trustee.
NUFFIELD COUNTY PRIMARY SCHOOL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trustees, report was approved by the Board of Trustees. A Dellor, Chair and Treasurer Trustee 26 Jan 2026 Date..
NUFFIELD COUNTY PRIMARY SCHOOL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NUFFIELD COUNTY PRIMARY SCHOOL TRUST I report lo Ihe trustees on my examination of the financial statements of Nuffield County Primary School Trust {the charity) for the year ended 31 March 2025. Responsibilities and basis of report As the Iruslees of the charity you are responsible for the preparation of the financial statemenls in accordance with the requirements of Ihe Charities Act 2011. I reporl in respect of my examination of Ihe charity's financial statements carried oul under seclion 145 of the Charities Act 2011. In carying out my examination I have followed the Directions given by the Charity Commission under section 145(5)Ibl of the Charities Act 2011. Independent examinerfs statement Your attention is drawn to Ihe fact that the charity has prepared the financial statemenls in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statemenls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 in preference to the Accounting and Reporting by ChaTities= Statement of Recommended practi issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understsnd that this has been done in order for Ihe finanaal statements to provide a true and fair view in accordance wilh UK Generally Accepted Accounting Practice. I have completed my examination. I confiTh that no matters have come to my attention in connection with the examinalion giving me cause lo believe that in any material respect= accounting records were not kept in respect of the chanty as required by section 130 of the Charities Act 2011. Ihe financial statemenls do not accord wf(h those records., or the financial statements do not compty with the applicable requirements conceming the form and content of financial stalements set out in the Charities (Accounls and Reports) Regulations 2008 other than any requiremenl Ihal the financial statemenls give a true and fair view. which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection Trmth the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial slatemenls to be reached. -L P_,-l. Samantha Daniels FCA For and on behalf of Shaw Gibbs Limited 264 Banbury Road Oxford OX2 7DY Date.. 27 Jan 2026
NUFFIELD COUNTY PRIMARY SCHOOL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted End0ent funds funds 2025 2025 Total Unrestricted Endovnnent funds funds 2024 2024 Total 2025 2024 Notes Income and endowments from: Investments Other income 12,045 30 17,435 29,480 30 28,152 30 28,152 30 Total income and endowments 12,075 17,435 29,510 28,182 28,182 Expendilure on- Raising funds Charilable activilies 6,557 6,557 20,215 6,273 6,273 14,974 20,215 14,974 Total expenditure 20,215 6,557 26.772 14,974 6,273 21,247 Net gainslllosses) on inveslments 10 41,398 {17,322) 24,076 127,108) {27,108) Net incomel{expenditure) 33,258 (6,444) 26,814 13,208 133,381) {20,173) Transfers between funds (6,444) (33,381) 33,381 Net movement in funds 26,814 26,814 {20,173) {20,173) Reconciliation of funds: Fund balances at 1 April 2024 160,942 595,760 756,702 181.115 595,760 776,875 Fund balances at 31 March 2025 187,756 595,760 783,516 160,942 595,760 756,702 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
NUFFIELD COUNTY PRIMARY SCHOOL TRUST BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Fixed assets Investments 12 779,040 737,960 Current assets Cash at bank and in hand 7,116 18,742 Creditors: amounts falling due within one year 13 (2.6401 Net current assets 4,476 18,742 Total assets less current liabilities 783,516 756,702 The funds of the charity Endowment funds Unrestricted funds 14 15 595,760 187,756 595,760 160,942 783,516 756,702 26 Jan 2026 The financial statements were approved by the trustees on A Dellor, Chair and Treasurer Trustee
NUFFIELD COUNTY PRIMARY SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity infonnation Nuffield County Primary School Trust is an unincorporated charity, constituted under a trust deed dated 16 August 2001 and is a registered charity number 1093894, registered in England and Wales. 1.1 Basis of preparation The financial slatemenls have been prepad in accordance with the charity's goveming document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounling 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 IFRS 102)" The charity is a Public Benefit Entity as defined by FRS 102. The charity has tsken advantsge of the provisions in the SORP for charities nol to prepare a slatement of cash flows. The financial slatements have departed from Ihe Charilies (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Slatement of Recommended Practice which is referred to in the Regulations but which has Sin been withdrawn. The financial statements are prepared in sterling, vthich is the functional cUencY of the charity- Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopled are sel out below. 1.2 Going ¢on¢ern The Trustees are continually reviewng their plans and forecasts and believe that the going concern basis is appropriale in the short temi. In response to the current economic climate the Trustees reduced grants lo a limit of £100 per application per child and £1.500 per applicalion per University-aged child in order to protect the Charity's funds. The Charity has sufficient funds to cover any comrnitted costs for at least 12 months frorn the approval of the financial statements. On this basis the Trustees have concluded that there is not deemed to be a material uncertainty on the Charity's ability to continue as a going concem. 1.3 Charilable funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objeclives. The endowment fund represents those assets that must be held pemianentty by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. 1.4 Income Income is recognised when the charity is legally enttlled to it after any perfom)ance conditions have been mel, the amounts can be measured reliabty, and it is probable that income will be received. Inveslment income is accounted for in the period in which il becomes due.
NUFFIELD COUNTY PRIMARY SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefil lo a third paty, 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 activty are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Grants payable are charged when agreed. 1.6 Fixed asset investments Fixed asset investments are initialty measured at transaction price excluding transaction costs, and are subsequently measured al fair value at each reporting date. Changes in fair value are recognised in nel incomellexpenditure) for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks. other short-temi liquid inveslments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Basic financial assets Basic financial assets, which include cash and bank balances. are initially measured at transaction price including transaclion costs and are subsequentty carried al amortised cost using the effective interest melhod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the fulure receipls discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors are inrtialty recognised at transaction price unless the arrangement constilutes a financing iransaclion, where the debl instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabililies classified as payable within one year are nol amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operalions from suppliers. Amounts payable are dassified as currenl liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade credttors are recognised initially at transaction price and subsequentty measured at amortised cost using the effective interest melhod. Derecognition of financial liabilities Financial liabiltties are derecognised when the chartty's contractual obligations expire or are discharged or cancelled.
NUFFIELD COUNTY PRIMARY SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from investments Unrestricted Endowment funds funds 2025 2025 Total Unrestricted Endowment funds funds 2024 2024 Totsl 2025 2024 Income from listed investments Interesl receivable 11,978 67 17,231 204 29,209 271 28,063 89 28,063 89 12,045 17,435 29,480 28,152 28,152 Other income Unrestricted Unrestricted funds funds 2025 2024 Other income 30 30 Expenditure on raising funds Endowment Endowment funds funds 2025 2024 Investment management 6,557 6,273
NUFFIELD COUNTY PRIMARY SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activities Grant giving Grant giving 2025 2024 Direct costs Bank charges Other small expenditure 62 120 59 182 59 Grant funding of activitieslsee note 6) 11,219 12,755 Share of support and governance costs (see note 7) Governance 8,814 2,160 20,215 14,974 Analysis by fund Unreslricted funds 20,215 14,974 Grants payable Grant giving Grant giving 2025 2024 Grants to individuals 11,219 12,755 Grants paid are to provide assistance with an individual's education. Support costs allocated to activities 2025 2024 Governance costs 8.814 2,160 Analysed between: Grant giving 8,814 2,160 Net movement in funds 2025 2024 The net movement in funds is ststed after chargingl{crediting)= Fees payable for the independent examination of the charity's financial statements 4.980 1,200 10-
NUFFIELD COUNTY PRIMARY SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Trustees None of the trustees (or any persons connected wilh them) received any remuneralion or benefits from the charity during the year. 10 Gains and losses on inveslments Unrestricted Endowment funds funds 2025 2025 Total Unrestricted Endowment funds funds 2024 2024 Total 2025 2024 Gainsl(lossesl arising on.. Revaluation of investments Sale of investments 31,361 10,037 (18,830) 1,508 12,531 11,545 127,1081 {27,108) 41,398 117,322) 24,076 127,108) {27,108) 11 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 12 Fixed asset investrnents Listed investments Cost or valuation At 1 April 2024 Additions Valuation changes Disposals 737,960 103,615 13,343 {75,878) At 31 March 2025 779,040 Carrying amount At 31 March 2025 779,040 At 31 March 2024 737,960 13 Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 2,640 11
NUFFIELD COUNTY PRIMARY SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Endowment funds Endowment funds represent assets which must be held pemanenlty by the charity. Income arising on the endowment funds can be used in accordan wtth the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets fomi part of the fund. At 1 April 2024 Incoming resources Resources expended Transfers Gains and At 31 March losses 2025 Pernianent endowments 595,760 17,435 {6,557) {17,3221 595,760 Previous year- At 1 April 2023 Incoming resources Resources expended Transfers Gains and At 31 March losses 2024 Pennanent endowments 595,760 {6.2731 33,381 (27.1081 595,760 15 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balanS of donations and grants which are not subjecl to spectfic conditions by donors and grantors as lo how Ihey may be used. These include designated funds which have been set aside out of unrestricted fijnds by the trustees for specific purposes. At 1 April 2024 Incorning resources Resources expended Trdnsfers Gains and At 31 March losses 2025 General funds 160.942 12,075 (20.2151 (6,444) 41.398 187,756 Previous year: At 1 April 2023 Incoming resources Resources expended Transfers Gains and At 31 March losses 2024 General funds 181,115 28,182 {14,9741 (33,381) 160,942 16 Analysis of net assets between funds Unrestricted Endowment funds funds 2025 2025 Total 2025 At 31 March 2025: Investmenls Current assetsllliabilities} 183,280 4,476 595.760 779,040 4,476 187,756 595.760 783,516 12-
NUFFIELD COUNTY PRIMARY SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Analysis of net assets between funds (Continued) Unrestricted Endowment funds funds 2024 2024 Total 2024 At 31 March 2024: Investmenls Current assetsllliabilities} 142,200 18,742 595,760 737,960 18,742 160,942 595.760 756,702 17 Related party transactions There were no disclosable related party transactions during the year (2024 - none). 13-