THE HIGHFIELD SCHOOL CENTENARY BURSARIES Fuf4D
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2025
Charlty no. 1114845

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
UNAUDITED FINAI¥CIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Reference and Administrative Details
Trustees. Annual Report
Indep¢ndent Examiner's Report to the T￿SteeS
Siaternent of Financial Aetivities
Batancc She
A￿Ounting policies
Nolas to the Financial Statements

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
REFERENCE AND ADMINISTIL4TIVE DETAILS
FOR THE YEAR ENDED 31 AUGUST 2025
Re8i$tered Charlty
The Highfield School Centenary Burwies Fund
Charlty re8lstrhtlon nurnber
1114845
Princlpal office
Highfield School
Highfield Lane
Liphook
Hampshire
GU30 7LQ
THE TRUSTEES
J H D Carey (Chairnian)
P A Greenwood
S Mason
K Naylor
K Wilkes
H Alexander
F Dumas (Appointed 0311012024)
Independent examlner
HaysMa¢ LLP
10 Qu¢¢n Street Pl￿¢
London
EC4R IAG
Bankeri
HSBC Bank Pl¢
54 Clarence Street
Kingston upon Tham¢
Surrey
KTI INS

THE HIGHFIELD SCHOOL CENTENARY BURSAIUFS FUND
TRUSTEES REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Highfield School Centenary Bursarieg Fund {the"Fund" or ihe'clwity") was establithed under a Trnst Deed datrd 8
M4y 2006 a¥ amended on 5 (ktober 2011.
The Board of Tnjsiees regularly meets three times a year and more frequently, rfrcquired. In addilion, thcre is an investment
suIFcommiitee, which also meets as least three times annually to review ¢he investment and the investment policy of thc Fund.
There were seven Trustees during the year. all of whom have had or have close connectlODS with Highfield and Brookham
School (the'school"). None of the TNste¢s have any fjnancial interest in the school, although one is a current tc4chcr. It is
also intended ￿ relain ihe current policy of only appoinring TTuslee¥, who have had or have connection with the School and
also that there should be one TnJ8tee who currently traches at the School.
0￿ECTIVEs AND AcfIvITIES
The Fund was Created io supwn the School through periodic donations ￿ enable the school to provid¢ &ssi$tan¢e to pupils
that would not othetlVi8e be able to enjoy a Highfield edu¢aiion.
The Tnj&￿e$ have given due regard to the Charity Commi88ion'8 guidan¢e on publi¢ benefit when reviewing the aims and
objective8 and in plamiing fu￿re activitie8 of the Charity.
Future Funds received will auiomaiically be applied to the UnrestTiCted Fund unle8$ il 1$ specifically requested that a Donation
should be uged wiihin a Apecified period, in which case i( will be applied to the DislribuLion Fund and thiy Fund will, therefore,
b¢ Re8triCted.
ACHIEVEMENTS AND PERFORMANCE
The charity continues to place significant emph&ii& on EundraiSLng and w￿estriCted donations totalling £76,947 {2024..
£54,824) were raised. During the year, bursaries totalling £89,841 (2024.. £91.408) were awarded.
There were seven children that the were yupported in the year (2024: 71.
FINANCLAL REVIEW
Nei SLuplus for the year is £33,331 (2024.. £63,967) including a gain on inv¢%tm¢nt$ of £28,094 (2024.. £87.918).
As at 31 August 2025, the Fund's assets totalled £771,35312024.' £738,022)
The TN8tees do not have a formal reserves policy. The aim of the Trustees is to provide support for two fvll Bur8aries a y¢8r
out of the Fund. Their further alm is to raise sufflcient donations in a particular y¢ar, togeiher with investsnent income, to
x¢￿d thc Bur5arics paid in the year and 50 to grow the Fund until it reaches its larget of £1 million.
A new fund-raisin¥ strategy ig bein8 developed with a target to raise at £1 million, although COVID ha8 delayed the fun&
raising process over the last four years

STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Trnsiees are responsible tor preparing the Trustees, Report and Financial Statemellt$ in accordance with applicable law
and United KitJgdom A¢counting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable
(o charities in England and Wales requires the Trustees to prepare financial statements for each fllMncial year, which give a
trne and fair view of the state of affairs of the charity, and of the incoming resources and application of resources of
the charity during that period. In preparing those financial 8t8tcmcnts, thc trusttts are required to..
Selcct suitable accounting policics and then apply them Consistently.
ObS¢￿e tbe meth¢)ds and principles in the Apptseabl¢ Charities SORP.
Make judgments and estimates that are reasonable and pNdent.
Stste whether applicable accounting standards have been followed, subject ￿ any mg4trrial departur&8 that must be
disclosed and explained in the financial sta(ements.
Prepare the financial Sts￿Ments on the going con¢em basi5 unles8 il is inappropriate to presume that the chArity wtll
ontinue in business.
The TA￿teeS are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the
financial position of the charity and enable them io ertsure that the fInancial statem¢nls comply with the Charities Act 2011,
the Applicable Charities (Accounts and RqK)rts) Regulations 2008 and the provisions of the In￿t deed. They are also
responsible for saf¢guarding the assets of the chtirity and taking reasonable Steps for the prevention and d¢￿CtIOn of fraud and
oih¢r irrcgularities.
The Tnjsiees are re8pon8ible for the maintenance and integrity of the chtirity and fjnawial inforniation included on the
charity's web8iie, Le¥islation in the United Kingdom governing the prepAra¢ion and disseminatton of fllwicial s(&iement8
may differ from le¥i¥14tion in other jurisdictions.
The Trusttts, Ar]nual R￿ort wa5 approved on
2026 8nd 8igned on behalf of the Board of Tn￿ttt9 by..
J H D Carey (Chairnian)
TTUStee

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
INDEPELYDKNT EXAMINER'S REPORT TO THE TRUSTEKS OF THE HIGHFIELD SCHOOL
FOR THE YEAR ENDED 31 AUGUST 2025
I report to the TNstres on my examination of th¢ a￿oWits of The H￿hfIeld School Centenary Bursaries Fund lthe"Fund" or
the'charity") for the p¢riod ended 31 August 2025 which are get ouc on pag¢8 4 to I l.
Respective r¢$pon5ibilities of Trllste￿ #Dd Examlner
The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees c¢)nsider th818n audit is not
required for this year under seclion 144(2) of the chariti￿ Aet 2011 (the 2011 Act) and that an indepcndent examination is
needed.
l Teport in respect of my examinaiion of the Funds accounts AS carried out undcr 3¢¢tion 44 (1)(c) of the 2005 Act and
swtion 145 of thc 2011 Act. In Carrying out my examination I have follow￿ th¢ applicable Directions given by the Charity
Commission under secuon 145(5)Ibl of the 2011 Art.
Independent Examln¢r'$ $t*tement
I hav¢ completed rny examinhtion. I confirni that no matters have come to my attention giving me cause to believe that in
any material respect..
accounting r¢wrd8 w¢r¢ not kept in respect of the Charity as required by section 130 of the 2011 Act. or
2. the accounts do no¢ accord wi¢h thos¢ records,. or
3. the ac¢ounts do not eomply with the applicable requirementN conceming the fom hrtd eontent of accounls Set out in
the Charitie$ (Aecounts and Reports) Regul&tions 2008 other than any requiremcnt that thc accounts 8ive a and
fair view which is rtot a matter considered as part of an Independent examinatitsn.
I have no concem5 and have come Across no other m8tters in connection with the examination io which itl¢ntion Should b¢
drawn in this report in order to enabl¢ a prop¢r UTJd¢rstsnding of the accoLmts to be reached.
Thoma8 Wi180n ACA
Haysmac LLP
10 Queen Streei Place
London
EC4R IAG
Date.,

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
STATEMENT OF FINANCIAL ACTIVITLS
FOR THE YEAR ENDED 31 AUGUST 2025
2025
2025
2024
Unrestricted
Funds
Total
Funds
Total
Funds
Nott
INCOME AND EXPENDITURE
Don•don$ And legacie
General Donations and legaci
76.947
76.947
54,824
7&947
18.252
76,947
18,252
54,824
12.762
Inv¢slm¢nt income
T•tAI Ineome
9&199
67J86
EXPENDITURE
Expcnditure on ¢hariiable 8¢1ivities
189.9621
189.962)
191,S37)
Total ¢%p¢ndltrJre
(89,9621
(89,962)
191.537)
Rcalised gains on invesimcnts
Change in value for invesiments (Unr¢ali8ed Bain81
28,069
25
28.069
25
33.562
$4,356
Net g4ln• /l108$esl on Inve¥tmenti
2B,094
28,094
87,918
N¢t1￿Come aDd Det movemtttt In Fundg
33 J31
33J31
63,967
RECONCILIATIOIY OF FUNDS
Total Funds Brought Forward
738,022
738.022
674.055
Total FMDds CArrled F•rw&rd
771 J53
771 JS3
738.022
The statement of financiAI ￿11￿111¢8 includu all 8a2ns and losses recognisd in the year.
All income and expenditur¢ d¢Tive from coniinuirtg a¢tivitl¢5.
The notes on pagu 8 to 12 form p*rt of tbeje flD&n¢i*l s**tements

THE HIGHFI£LD SCHOOL CENTENARY BURSARIES FUND
BALAI¥CE SHEET
AT 31 AUGUST 2025
Tots]
2025
Tot
2014
No
FIXED ASSETS
Investment5
740.437
713,268
CURRENT ASSETS
Cash at bank and in hand
30.916
24,754
NET CURRENT ASSETS
30.916
24,754
TOTAL ASSETS LESS CURRENT LIABILITIES
771 J53
734022
FUNDS OF THE CHAIUTY
Unrestricted Fundg
771,353
738,tr22
TotAI Cbarlty Fundi
771 J53
738,022
These finon¢i418la￿Mtnts were approved by the Boud of Tn￿tee9 and authoriged for issue on
nd Are 8l¥rted on behalf of the B0￿d by:
Z4
JHDC8rcy{
Trus¢¢e
hai
ian)
Note$ 7 tts 12 form pirt of Ihese *¢¢ounts.

THE HIGHFIELD SCHOOL CENTEIYARY BURSARIES FUND
ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 AUGUST 2025
GeDerAI information
The Hi8hfield S¢hool C¢nlenary Bursaries Fund 15 an unincorporated Charity governed by a Trust Deed regiglered
with the Charity Commission in EnEland and Wales under registered number 1114845. The principal address is Hi8hfield
School, Highfi¢ld Lane, Liphook, Hampshire. GU30 7LQ. The objectives of the Cbarity are sct out on page 2.
Statement of tomplixnc¢
These fLn4n¢ial siatemenls have been prcp8red in complianee with FRS 102, 'the Financial Reporting S￿Ad￿rd
applicable in the UK and the Republic of Ireland,, the Statement of Recommended Prd¢tice for Chatities ISORP 2015}
(s￿Ond Edition, effective l January 2019) applicable io chariiies preparing their occounts in accordance with the
Financial Reporting Standard appli¢abl¢ in the UK and Republic of Ireland.
AecountlnR poll¢lei
Bails of prepar#tlOD
The fm2ncial Statements have been prepared on th¢ historical cost basis, as modified by the revaluation of certain
rinAnciAI a¥sets and liabiliiiey meayured ai fair value through income OT expenditure.
The financial statements are prepared in 8terlin8, which 18 the functional Cumcy of the entity.
Th¢ Charity m¢et8 the defmiiion of a public benefit entity under FRS 102.
Golng coocern
Thcr¢ ar¢ no material uncenainties aboui the Charity's abilily to continue as a going concern for at last twelve month8
Erom approving the accounis.
DI￿101￿re extmptlons
The Charity has takcn advanta8e of the ex¢mption in "Bulletin l- Amenthnents to Accounting and Reporting by
Charitie5.' Statcment of Recommended Practice 2pplicabl¢ to charitie4 preparing their accounts in accord8nce with the
Financi41 Reporting Standard applicabl¢ in th¢ UK and Rcpublic of Ireland" from the requirement to produce A cash
flow statement on the grounds that it is a $m&ll Chari¢y.
Judgementy #nd key ￿ure￿ of eAtlm4tion untertainty
The preparalion of the financial statements requires management io make judgements, estimates and assumptions that
affect the amounts reported. These estimates and judgcments are continually reviewed and are based on expert¢n¢e and
other factors, including exp¢clations of future cvents that are believed to be reasonabl¢ under th¢ circumslan¢es. There
are t)0 area8 involving a higher degree of jud8ement or complcxity, or ar￿ wh¢r¢ &s8umption$ and ¢slimates are
518nificant to the fuwicial inforniation.
FllDd accounting
The Unresiricted Fund cornpri8es the capital account, which may be used for donations to the s¢hiM)l at the discretion of
the Trustees. Income rcccivcd during the ycar is credited to the Unrestricted Fund unle85 otherwi8c specified by th¢
donor.

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 AUGUST 2025
IDcome
All income is included in the statement of financtal activiiies when entitlement h&s passed to the Charity, it is probabl¢
that the economic benefits Lqsociated with the tran￿110n will flow io the Charity and the amount ¢an be reliabty
easured. Donaiions arc rccognis¢d wh¢n the Trust has been notified in writing o(both the amount and s¢ttlement dal¢.
Interest on funds held on dep)sit is included when r¢¢¢ivable and (he amounl can bc measured reliably by the Charity;
this is nornially upon notification of the interest paid or payable by the bank.
Dividends are recognised once the dividend has been declared and notification has been received of th¢ dividend due.
This i¥ norn)ally upon notification by our investment advise of the dividend yield of the investment portfolio.
Expendlture
Expenditure 15 recognised once there is a legal or constru¢tive obligation to make a payment to a third party. it is probabl¢
that 5e1¢I¢m￿l will bc rcquired. and the am¢)unt of the obligation ¢an be measured reliably.
Expendiwre on clwitable a¢¢iviltes includcs all costs incurred by the Charity in undertaking activitie8 that fvrther its
charitable aimq for the b¢n¢fit of ils bcneflciaries, including those support costs and costs relating to th¢ goveman¢e of
the Charity apportioned ¢0 charitable a¢tlVLties.
Governance costs include those w5ts associaled with mtttin8 the constilutional and ststuiory requirement5 of the Chartty
and include cosis linked to the slrategic rnanagement of the Charity.
Irrecoverable VAT 18 charged 49 4 cost against the activity for which the expenditur¢ incurred.
InveJtmellt$
Inves¢menl8 ar¢ a forni OF bL8ic fLrtart¢ial insirnmeni and are initially recognised ai their traniac¢ion valuc and
subsequently measured ai their fair value as at the balance sheet date Using the closin8 quoted markc¢ price. The Charity
does not a¢quir¢ put opti0rt8, deriv8tive8 or other complex fmancial instruments.
All 84in$ and logs¢8 4r¢ takeft to the Statement of Financial A¢tLVlti¢$ as they arise. Realised gains and IoA8es on
inv¢stment5 or¢ ¢alculaled as the difference between sales procc¢ds 4nd their openin8 carying value or their purchage
valu¢ if awuired subsequent to the fir%t doy of the financial ycar. Unr¢alised Bains and losses are colculated as the
difference between ihe fair value at the year end and th¢ir carying value. Realised and unreali8ed investment gains and
loss¢J ar¢ cotnbined in the Statement of Finatjcial Acliviu¢8.
Fin¥n¢ial in$truments
The Charity only ha5 r]nan¢ial a3sets and fthartti&l liabilities of a kind that qualify as ba51G financial instrument5. B¥45i¢
rinan¢ial instruments are initially reco8nised at transaciion value and .￿ubSeqUentIY ￿e&SUred at their 8ettlemeDt value
with the exception of bank loans which arc subsequently measured at amortlsed cost U8ifL8 the effecliye interest method.
Cash at Bank
Cash at bank and cash in hand includes cash and short tern] highly liquid investments with a short maNrity of three
motttbs or less from the date of acqui51tion or opening of the dcposit or Similar account.
Creditors xttd provision
Creditors and provisions are re¢ogni5¢d where the Charity has a present obligotion resuliing from a past event that will
pr¢Trbably result in th¢ transf¢r of funds to a third party and the am¢)unt due to scttie the obligation can b¢ mea8ured or
estimated reliably. Cr¢ditor5 and provisions are nornially recognised at their 5Cttlement amount after allowing for any
trade discounts due.

THE HIGHFIELD SCHOOL CEP4TENARY BURSAIUES FUL¥D
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
DONATIONS AND LEGACIES
Uthrestrleted
Funds
2025
Restrlcted
FuDd5
2025
Totsl
Funds
2025
Total
Funds
2024
DONATIONS
General Donations and Legacies
76.947
76,947
54.824
7A947
76.947
54024
INVESTMENT INCOME
Unrestrleted
Funds
2025
R¢Jtrl¢t¢d
undi
1025
Total
Fundi
2024
Fundi
2025
In¢ome from listcd invc5tmen15
Bank ini¢rest re¢eivablc
17,860
392
17,860
392
12.336
426
18252
18.252
IL762
EXPENDITURE OI¥ CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Grant fuDdlllg of
i¢rfvltlei
2025
Support cwts
Total
Funds
2Q25
Total
Fllnds
2024
2025
Bursary Awards
Governance costs
89,841
89,841
121
91,408
129
121
89.841
89,962
91,537
Bursary 8re made to pupils whts would not be able to attend and be educated * Highfjeld S¢hool without fJnan¢ial support.
All rxpenscs arc unrestricted in nature.

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2D25
7. NET GAINS ON INVESTMEIYTS
UDregtrlcted
Funds
2025
UDrestiicted
Funds
2024
(L05sesyGains on listed inV￿lMentS
28.094
87.918
lrtcluda in cunent year gains ar¢ realised glins of £28.069 (2024.. £33,562) and unrealised 88ins of £25 (2024.. £54.356).
TRUSTEE REMUNERATION AND EXPENSES
None of the Tn)8tee8, or person8 connected with th¢rn, re¢¢iv¢d any remuneration or reimbursement of exp¢rt8e$
during thc year or prior yeor.
The Charity did not have any employees during the yeAr.
9. INVESTMENTS
Llsted
Investrnettts
Viluatloll
At I September 2024
Addiiions
Disposals
Fair value movemenis Irealised and
urtrcalised gains)
713,208
106,IX)O
(106.9251
28,094
At 31 Awg¥•t 2025
740,437
All investments shown above are held hi fair value. The initial co8t5 of these invesim¢nl$ were £502,422 {2024
£475.279).
Flnancl&l •s¥¢t8 h¢ld It falr valwe.
Investtnents in equities and bondy are all traded in quoted public marke¢5, primarily the London Stock Exchange. Th¢
basis of fair value for quoted investtnents is equivalent to thc market value, uging the bid price. Asse¢ sales and
purchases aTe recogni5ed at the date of trade at eost {that is their transaction value).
Th¢ investments are onAiy8ed as follows..
2025
2024
UK quoted seeurities
740.437
713.268
The JnaiD forni of f￿ancIAl risk fKed by the Chariry is that of volalility in investrnetlt Tnarktts due to wider economic
conditions and variability of investment returns. This risk is mItiga￿d by maintaining a div¢Tre investment portfolio.
10

THE HIGHFIELD SCHOOL CENTENARY BURSAIUES FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
10. ANALYSIS OF CHARITABLE FUNDS
At
I September
At
31
2024
llltome
Expendltsre
2025
Ullrutricted Fu￿d
738.022
95,199
(89,962)
28,094
771.353
738022
9S199
189,962)
28,094
771 J53
At
I September
At
31 August
2023
Ineome
Expeuditure
2024
Unrutrl¢t¢d Fund
674.055
67.586
(91.537)
87.918
738,022
674,0
67
191 J37)
87,918
738,022
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrutrlcted
FuDd8
Totsl
202S
Inve8tm¢Dts
Current ￿￿¢t8
740,437
30,916
740,437
30,916
Net *$get$
771 J53
771 J53
UDre8trlcted
Fulld$
Tot41
2024
Investments
Curr¢nl assets
713,268
24,754
713,268
24,754
Net 48set*
738,022
738,022

THE HIGHFIELD SCHOOL CENTENARY BURSARIES FUND
NOTES TO THE FllYANCIAL STATEMEIYTS
FOR THE YEAR ENDED 31 AUGUST 2025
12. RELATED PARTIES
Highfield Sch￿[ {Liphook} Limited 15 considercd a related party of the Charity as the Charity's prineipal activity 19
that of contributing towards the fees of pupils who, but for fmanctal assislance, would Thot be able to attend and be
educated at Highfield or Brookh￿￿ Schools.
DurRng the year (he Charity paid to Highfield School (Liphookl Limited the amount of £89,841 (2024.. £91,408) on
behalf of pupils attending the school. Indq)¢nd¢n( examination fee5 of £1,510 (2024.. £1,450) were paid by HIghr￿Id
School (Liphookl Limited. There were no other related party tr8rt8aCtions in the year.
12