THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2024
Charlty no. 1114845

THE HIGHFIELD SCHOOL CENTENIIRY BURSARIES FUND
UIYAUDITED FLYANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Reference and Administrative Details
T￿￿te¢s, Annual Report
Independent Exarniner's Report to the Trustees
Statement of Financial Activities
Balance Sheet
Accounting policies
Notes to the Financial Statements

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 AUGUST 2024
Registered Charity name
The Highfield School Centenary Bursaries Fund
Charity reglstratlon number
1114845
Principvdl office
Highfield School
Highfield Lane
Liphook
Hampshire
GU30 7LQ
THE TRUSTEES
J H D Carey (Chairn]an)
P A Greenwood
S Mason
N Denton (Resigned 1410612024)
K Naylor
K Wilkes
H Alexander (Appointed 1410612024)
F Dumas (Appointed 0311012024)
Independent examiner
Haysmac LLP
10 Queen Street Place
London
EC4R I AG
Bankers
HSBC Bank PIC
54 Clarence Street
Kingston uwn Thames
Surrey
KTI INS

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
TRUSTEES REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
STRUCTURE, GOVERANCE AND MANAGEMENT
The Highfield School Centenary Bursaries Fund (Ihe "Fund" or the "Charity") was established under a Trust Deed dated 8
May 2006 as amended on 5 October 2011.
The Board of Trnstees regularly meets three times a year and more frequently, if required. In addition, there is an investment
sub-commit*e, which also meets as least three times annually to review the investhient and the investment policy of the Fund.
There were six Trustees at the end of the reporting period, all of whom have had or have close connections Wlth Highfield
and Brookham School (the'school"). None of the Trustees have any fmancial interest in the School, although one is a Cu￿ent
teacher. It is also intended to retain the current policy of only appointing Trustees, who have had or have connection with the
School and also that there should be one TTU8lee who CUTrently leaches at the School.
OWECTIVES AND ACTIVITIES
The Fund was created to advance education by contributing towards the fees of pupils who, but for financial assistance, would
not b¢ able to attend and be educated at the School.
The Trustees have given due regard to the Charity Commission's guidance on public benefit when rcviewing the aims and
obje¢tive8 and in planning activities of the Charity.
Future Funds received will automatically be applied to the Unrestricted Fund unless it Is specifically requested that a Donation
should be used as a Bursary within a specified period, in which case it will be applied to the Distribution Fund and this Fund
will, therefore, be Restricted. Such Bursaries will contribute towards the fees of pupi15 who, but for fmancial assit•tan¢e,
would not be able to attend or continue to attend and be educated al Ihe School.
ACHIEVEMENTS AND PERFORMANCE
The charity continue to place 8ignificant emphasis on fundraising and unrestricted donations totalling £54,824 (2023.. £69,371)
were raised. During the year, bursariei> totalling £91,408 (2023: £74,123) were awarded.
The number of pupi18 that were supported with bursaries in the year were 7 (2023.. 7). Thc bursaries provided financial support
to rov¢r b¢twe¢n 85 /0 and l 00 % of fees for pupils requiring financiaE assistance.
FINANCIAL REVIEW
Net surplus for the year is £63,967 (loss 2023: £24,133) including a gain on investments of £87,918 (2023: £7,075).
As at 31 August 2024, the Fund's assets totalled £738.022 (2023: £674,055)
The Trustees do not have a forn]al reserves policy. The aim of the Trustees is to award two Bursaries a year out of the Fund.
Their further aim is to raise sufficient donations in a particular year, together with investment income, to exceed the Bursaries
paid in the year and so to grow the Fund until it reaches its target of £1 million.
A new fund-ratsing strategy is being developed with a target to raise at £1 million, although COVID has delayed the fimd-
raising process over the last three years

STATEMENT OF TRUSTEES9 RESPONSIBILITIES
The Trustees are responsible for preparing the T￿stee$, Report and Financial Statem¢nts 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 Trustees to prepare financial statements for each financial yeai.,
which give a tNe and fair view of the state of affairs of the charity, and of the incorning resources and application of
resources of
the charity during that period. In prepar2ng those financial statements. the trnstees are rcquiTcd to..
Select suitable accounting policies and th¢n apply them consistentty.
Observe the methods and principles in the Applicable Charities SORP.
Make judgments and estimates that are reasonable and prudent.
State whether applicable accounting ￿>taftdards have been followed, subject to any material departures that must be
disclosed ￿ld explained in the finallci&l stalemenls.
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in business.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time
the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act
2011, the Applicable Charities (Accounts and Reports) Regulations 2008 and the provisions of the tnJ8t deed. They are also
responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud
and other Arregularities.
The Trustees are rc8ponsible for the maintenance and integrity of the charity and financial infomiation included on the
charity's websitc. Lcgislation in the United Kingdom goveTning the PTeparation and dissemination of financial slatcments
mdy differ frorTh legisLation in other jurisdictions.
The Trnstees, Annual Report wa5 approved on
2025 and signed on behalf of the Board of Trustees by:
J H D Carey (Chaii
Trustee

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
INDEPEIWENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HIGHFIELD SCHOOL
FOR THE YEAR ENDED 31 AUGUST 2024
I report to the Trustees on my examination of the accounts of The Highfield School Centenary Bursaries Fund (the "Fund" or
the'charity") for the period ended 31 August 2024 which are set out on pages 4 to l l.
Respeetive responsibilities of Trustees and Examiner
The Charity's T￿SteeS are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not
required for this year under section 144(2) of the Charities Act 2011 (the 201 l Act) and that an independent examination is
needed.
I report in respect of my examination of the Funds accounts as carried out under section 44 (1)(c) of the 2005 Act and
se¢tion 145 of the 2011 Act. In carying out my examination I have followed the applicable Directions given by the Charity
Commission under section 145(5)Ib) of the 2011 Act.
Independent Examiner's statement
I have completed my examination. I confjrni that no matters have come to my attention giving rne cause to believe that in
any material respect:
accounting records were not kept in resp￿1 of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records. or
3. the accounls do not comply with the applicable requirements concerning the fonn and content of accounls sel out in
the Charities (Accounts and ReporL8) Regulations 2008 other than any requirement that the account8 give a true and
fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other tnatters in connection with the examination to which attention should be
drawn in this report in order lo enable a proper understanding of the accounts to be reached.
Thomas Wilson ACA
Haysmac LLP
10 Queen Street Place
London
EC4R LAG
Date: 20 June 2025

THE HIGHFIELD SCHOOL CENTENARY BURSAIUES FUND
STATEMENT OF FINANCIAL ACTIVITES
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2024
2023
Unrestrleted
Fynds
Total
Funds
Total
Funds
Note
INCOME AND EXPENDITURE
Donatlons and legaeles
Arts Sales Donations
General Donations and l¢ga¢ies
52.032
17.339
54,824
54,824
54,824
12,762
54,824
12,762
69.371
12.291
Investment income
Total Income
67,586
67586
81.662
EXPENDITURE
Cost of art sales
Expenditure on charitable activities
(38.5501
(74,320)
(91.537)
(91.537)
Totydl expenditure
(91,537)
(91,537)
(112.870)
Realised gains/(losscs) on inveslmcnts
Change in value for investments {unrealised gains)
33,562
54.356
33.562
54.356
(225)
7,300
Net gain8 on investments
87,918
87,918
7.075
Net income and net movement in Funds
63.967
63,967
(24,133)
RECONCILIATION OF FUNDS
Total Funds Broughi Forward
674,055
674,055
698.188
Tot81 Funds C2rrled Forward
738,022
738,022
674,0SS
The statement of financial activities includes all gains and10&5es ￿08n1$￿ in the year,
All income and expenditure derive from ¢onlinuin8 activities.
The note5 on pages 8 to 10 form part of these financial statement5

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
BALANCE SHEET
AT 31 AUGUST 2024
Total
2024
Tolal
2023
Note
FIXED ASSETS
Invcbtments
713,268
635.386
CURRENT ASSETS
Cash at bank and in hand
24,754
38,669
NET CURRENT ASSETS
24,754
38.669
TOTAL ASSETS LESS CURRENT LL4BILITIES
738,022
674,055
FUNDS OF THE CHARITY
Unrestricted Funds
738,022
674,055
Total Charlty Fund5
10.1 I
738,022
674,055
These financial statemettts were approved by the Board of Trustses and authorised for issue orl
and are signed on behalf of tiic Boai'd by..
J H D Carey (Clitlii'nian
Trnstce
Notes 8 to 10 form part of these VéCCOUllt5.

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 AUGUST 2024
General information
The Highfield School Centenary Bursaries Fund is an unincorporated Charity governed by a T￿st Deed and registered
with the Charity Commission in England and Wales under registered number l 114845. The principal address is Highfield
School, Highfield Lane, Liphook, Hampshire, GU30 7LQ. The objectives of the Charity are set out on page 2.
Statement of eompliance
These financial statements have been prepared in compliance with FRS 102, 'the Financial Reporting Standard
applicable in the UK and th¢ Republic of Ir¢land', th¢ Statement of Recomrnended Practice for Charities (SORP 2015)
(Second Edition, effective l January 2019) appli¢abl¢ to charities prq)aring their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland.
Accounting polleles
Basis of preparation
The financial 8tatemcnts have been prepared on the historical cost basis, as modified by the revaluation of Gertain
rmancial &gsets and liabilities measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which i8 the functional currency of the entity.
The Charity meets the defmition of a public bencfit entity under FRS 102.
Going concern
There are no material uncertainties about the Charity's ability to continue as a going concern for at last twelve months
from approving the accounts.
Di8c105ure exemptlony
The Charity has taken advantage of the exempiion in "Bulletin I: Amendments to 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" from the requirement to produce a Cash
flow statement on the grounds that it is a small Charity.
Judgements V4nd key sources of estlmatlon uncertalnty
The preparation of the financial statements requires management to make judgemenL8, estimates and assumptions that
affect the arnounts reported. These estimates and judgements are continually reviewed and are based on experience and
other factor5, including expectations of future events that are believed io be reasonable under the ¢ircumslances. There
are no ar¢as involving a higher degree of judgement or complexity, or areas where assumptions and e8timates are
significant to the financial inforn]ation,
Fund accountlng
The Unrestri¢ted Fund comprises the capital account, which may be used for the payments of Bursaries at the dis¢retion
of the Trustees. Incorne received during the year is credited to the Unrestricted Fund unless otherwise specified by the
donor.
It is the Trustees, intention that ￿tUre Bursaries will be paid out of the Restricted Fund which comprises income from
specified donations when ￿ndS allow. Income is applied to the Restricted Fund when it is specifically requested that a
donation should be used in a specified period.

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 AUGUST 2024
Income
All income is included in the statement of financial activities when entitlement has passed to the Charity, it is probable
that the economic benefits associated with the transaction will flow to the Charity and the amount Can be reliably
measured. Donations are recognised when the Trnst has been notified in writing of both the amount and settlement date.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity.
this is nonnally upon notification of the interest paid or payable by the bank.
Dividends are recognised once the dividend has been declared and noliftcation has been received of the dividend due.
This is nomally upon notification by our investment advise of the dividend yield of the investment portfolio.
Expenditure
Expenditure is recognised once there is a legal or constrnclive obligation to make a payment to a third paty, it is probable
that s¢ttlcment will be r¢quir¢d, and th¢ amount of the obligation Can be measured reliably.
Expenditure on charitable activities includes all costs incurred by the Charity in undertaking activitie8 that further its
charilable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of
the Charily apportioned lo charilable activities. Bursaries are payments rnade io pupils in the furtherance of the charitable
objectives OF the Charity.
Governance costs include those costs associated with meeting the ¢onstittLlional and statutory requirements of the Charity
and include costs linked to the strategic management of the Charity.
Irrecoverable VAT is charged as a cost against the activity for which the cxpenditure was incurred.
Investments
Investments are a fom) of basic financial in$trument and are initially recognised at their transaction value and
Subsequently measured at their fair value as at the balance sheet dalc using the closing quoted rnarket price. The Charity
does not acquire put options, derivatives or other complex fmancial instruments.
All gains and losses are taken lo the Sialement of Financial Activities as Ihey arise. Realised gains and losses on
investments are calculaied as the difference between sales proceeds and their opening carying value or their purchase
value If acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated a8 the
difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and
losses are combined in the Statement of Financial Activities.
Flnanelal Instruments
The Charity only has financial assets and financial liabililies of a kind that qualify as basic financial instruments. Basic
financial instruments are initially recognised at transaction value and subsequently measured at their settlement value
with the exc¢ption of bank loans which are subsequently measured at amortised cost using the effective interest method.
Cash at Bank
Cash at bank and cash 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.
Creditors and provision
Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will
probably result in the transfer of ￿ndS to a third party and the amount due to settle the obligation can be measured or
estimated reliably. Creditors and provisions are normally iecognised at their settlement amount after allowing for any
trade discounis due.

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUCUST 2024
DONATIOIYS AIND LEGACIES
Unrestrictsd
Futtds
2024
Restrtcted
Funds
2024
Total
Funds
2024
Totsl
Funds
2011
IK)NATIONS
General Donations and Legacies
Arts Sales Donations
54,824
54,824
17,339
52,032
54.824
$4,824
69,371
INVESTMENT ILYCOME
Unrestricted
FuDds
2024
Restricted
Funds
2024
Totfdl
Funds
2024
Total
Funds
2023
Income from listed investments
B8nk interest r￿e1vable
12.336
426
12.336
426
12,180
12,762
12,762
12,291
EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Grant funding of
activities
2024
Support costs
Total
Funds
2024
Totgl
Funds
2023
2024
Bursary Award5
Govcmance costs
91,408
91,408
129
74,123
197
129
91,408
129
91.537
74J20
Bursary are made to pupils who would not be able to attend and be educated at Highfield School without financial support.
All expenses are unrestricted in nature.

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
7. NET GAINS OIY INVESTMENTS
Unrestricted
Funds
2024
Unrestricted
FuDd5
2023
Net gains on listed investments
87,918
7.075
Included in current year gains are realised gains of£33,562 (2023: Loss £225) and unrealised gains of £54,356 (2023: £7300).
TRUSTEE REMUNERATION AND EXPENSES
None of the Trustees. or persons connected with them, received any remuneration or reimbursement of expenses
during the year or prior year.
The Charity did not have any employees during the year.
9. INVESTMENTS
Llsted
Investments
Valuatlon
At I September 2023
Additions
Disposals
Fair value movements (realised and
unrealised gains)
635,386
85,000
(95,036)
87.918
At 31 August 2024
713,268
All investments shown above are held at fair value. The initial Costs of these investments were £475,279 (2023
£451,753).
Financial assets held at fair value.
Investments in equities and bonds are all traded in quoted public markets, primarily the London Stock Exchange. The
basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and
purchases are recognised at the dale of trade at cost (that is their transaction value).
The investments are analysed as follows:
2024
2023
UK quoted securities
713,268
635J86
The main forn] of fmancial risk faced by the Charity is that of volatility in investment markets due to wider economic
conditions and variability of investment returns. This risk is mitigated by maintaining a diverse investment portfolio.
io

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. ANALYSIS OF CHARITABLE FUNDS
At
I September
At
31 August
Gains
2023
Income
Expenditure
2024
Unrestrieted Fund
674,055
67,586
(91.537)
87,918
738,022
674,055
67J86
(91,537)
87,918
738,022
At
I September
At
31 August
Gains
2022
Income
Expenditure
2023
Unrestricted Fund
698,188
81,662
(I l2,870)
7,075
674,055
698,188
81,662
(112170)
7075
674,OSS
11. ANALYSIS OF NET ASSETS BETWEEIY FUNDS
Unrestrlcted
Funds
Total
2024
Investsncnts
Current assets
713.268
24.754
713.268
24,754
Net assets
738,022
738,022
Unrestrlcted
Funds
Total
2023
Tnveslments
Current assets
635.386
38,669
635.386
38,669
Net assets
674.055
674,055
li

12. RELATED PARTIES
Highfield School (Liphook} Limited is considered a related paty of the Charity as the Charity's principal activity is
that of contiibuting towards the fees of pupils who, but for fmancial assistance, would not be able to attend and be
educated at Highfield or Brookham Schools.
During the year the Charity paid to Highfield School (Liphook) Limited the amount of £91,408 (2023: £74,123) on
behalf of pupils attendAng the ￿h0O1. Independent examination fees of £1,450 (2023: £1,200) were paid by Highfield
School (Liphook) Limited. There were no other related party transactions in the year.
12