CHEADLE HULME SCHOOL 150th ANNIVERSARY
BURSARY TRUST
REPORT AND FINANCIAL STATEMENTS
Year ended 31 August 2021
Charity Number 1115254

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Stalements-year Ended 31 Au
ust 2021
Page
Trustees. Annual Report
Independent Auditor's Report
Statemenl of Financial Activities
10
Balance Sheet
Statement of Cash Flows
12
Noles to the Financial Statements
13-19

CHEADLE HULME SCHOOL 1501h ANNIVERSARY BURSARY TRUST
ort and Flnanclal Statements-year Ended 31 Au
ust 2021
TRUSTEES, ANNUAL REPORT
LEGAL AND ADMINISTRATIVE INFORMATION
Charity Name
Cheadle Hulma Anniversary Bursary Trust
Address
cjo Cheadle Hulme Sch￿1
Clarem￿1 Road
Cheadle Hulm&
Cheadle
Cheshire
SK8 6EF
Charity Number
1115254
Governlng Instrument
Trust De&J
Trustees
Mr D C ShiF4ey {ChEl￿an)
Mr S L Jones
Mrs S Hardy
Mr P Driver
DrDNfvley
Mr D A Jad(son (resigned November 20201
Mr N Smith
Mr S Abraham lappoinled February 2021)
Mr J Winter lapw>inled Marth 20211
Mrs B Wdmsley {apwinted May 20211
Mr l Jepson {Appointed May 20211
Mrs C Boyd (Ap￿inted Novwnber 20211
Independent Auditor
Crov*P U.K. LLP
The Lexicon
Mount Street
Manchester
M2 5NT
Investment Advisors
RalhtM)ne Invesimenl Management
Port of LiverpxA Building
Pier Head
LtverFwI
L3 1NW
Bankers
Bardays Bank PLC
P.0. Box 357
51 Mo￿eY Str*t
Manchester
M60 2AU
CCLA
Senator House
85 Queen Vicloria Street
London
EC4V 4ET

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re ort and Financial Statements - Year Ended 31 Au
ust 2021
TRUSTEES. ANNUAL REPORT
HISTORY. OBJECTIVES AND ACTWMES OF THE TRUST
The Cheadle Hulme School 150 Anniversary Bursary Trust was established by a deed
dated 9 February 2006. The Trust deed was ￿vieWed and updated on 8 October 2017 and
24 February 2021.
The objects of Cheadle Hulm8 School 150 Anniversary Bursary Trust are to apply the
income to pay all or any part of the fees and related costs payable in respect of deserving
boys and girls who are being educated or wish to be educated at Cheadle Hulme School in
particular but not exclusively to include school unrfoms. school lunches, personal
educational equipment, school trips and transport to enable the pupils to attend Cheadle
Hulme School.
In setting the aims and objectives. the trustees have given careful consideration to Ihe
Charity Commission's general guidan￿ on public benefit. and in particular to supplementary
public benefit guidance on advancing educati(M). In achieving its objectives, the trustees are
confKlenl the trust is meets'ng its public benefit requirement.
In 2009 the assels of the N￿1 Pearson Bursaries Trust were transferred to the Trust.
The trust is managed by a minimum of two and a maximum of fourteen trustees who meet at
least Iwo limes a year. The Trust is operated in accordance with the Trust Deed.
MANAGEMENT AND GOVERNANCE ARRANGEMENTS
In selecting individuals for appointment as trustees, the trustees must have regard to the
skills, knowledge arKI experience needed for the effective adm￿lStration of the charity and
musl appoint from the following cLass of persons to a maximum from each class as indicated
in the brackets-
a) Headteacher111
b) Member of staff from Cheadle Hulme Sd)oo1 (1)
c) Board of Governors of Cheadle Hulme School (4)
d) Former Pupils and Fomer Staff of Cheadle Hulme School13)
e) Parents ol children currently attending Cheadle Hulme School {2}
fl Independent people131
The trustees may serve for a term of three years and will be eligible for re*lect￿n at the end
of ihe three years.
The chair of trustees is responsible for the induction of any new trustee which involves
awareness of a trustee's responsibilities. the goveming document. administrative
procedures. the history and philosophical approach of the trust. A new trustee receives
copies of the previous year's annual report and accounts and a copy of the Charily
Commission leaflet 'The Essential Trustee". What You Need to Know: What You Need To Do
{May 2018)..
The investment assets of the trust at the year end were managed by an independent
financial advisor Rathbone Investment Management.
The trustees annLbally review the risks that the trust faces.

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re
ort and Flnan¢lal Statements-year Ended 31 Au
ust 2021
TRUSTEES. ANNUAL REPORT (cont)
The trust does not have any employees and therefore does not have any key managem8nt
personnel. It relies on officers of the School to provide its administration, fundraising and
accounling seNices wf(houl charge
PROCEDURES AND POLICY FOR MAKING
The trustees will normally meet iwo times a year to review the investment funds and to
consider how to apply the funds. This year there were Ihree meetings, all held virtually
because of COVID 19. Bursaries totalling £150.000 (2020." £100.0001 were awarded in the
financial year ending 31 August 2021.
ACHIEVEMENTS AND PERFORMANCE OF THE TRUST
The Trusl has recognised gross income totalling £395,385 (2020: £273,644) in the year
including £94,210 of restricted income. Investment gro￿ has been positive. Fundraising
efforts by the School have focussed on the Bursary Trust ttselr.
FUNDRAISING DISCLOSURE
The School has an Extemal Relat￿nS and Development Office. an important purpose of
which is to raise funds for the sthool Irusls. The (J)sts of running the External Relalions and
Development offi￿ are bome by the School.
A focus of fundraising activity last year was The Amazing Campaign. a new initiative
introduced in January 2020 to raise funds for the School's Bursary Trust. After being
poslponed due to Covid-19, the first Giving Day was held, led by Sixth Fom students for Old
Wa￿nianS in October 2020, alongside a telephone campav3n which resulted in over
£30.000 of gifts over 5 years and an increase in new regular donors. Following this a 10 day
appeal to our parents was conductedin June 2021 and the same team of students took part
in another telephone campaign to help spread awareness and raise funds. The appeal
resulled in gifts tolalling over £40,000.
All fundraisers employed by the School are bound by the regulations set out by the
Fundraising Regulator. of which the School is a member. This means all fundraising activty
is carried out in line with the advice and regulatK)ns adhering to best practi￿.
Through training and complian(* wtth the Fundraising Regulator the School ensures that
vulnerable people are protected from any intrusive fundraising. All callers are trained
. appropriately lo look out for signs of vulnerabilty and to respect the decisions made by the
Schools, alumni regarding fundraising. No fomial complaints were received due lo activities
carried out by the charity- Infomation about how the School uses personal data for
fundraising purposes is included in the Extemal Relations Privacy Policy. which is accessible
from the School's website.
FINANCIAL REVIEW, INVESTMENT POLICY AND RESERVES
The net income befo￿ olher recognised gains and losses for Ihe year was £205,47812020'.
£152,225) after operational expenses and Bursaries of £163,648 {2020'. £112,933). The
total unrestricted funds at the year-end were £4.717.529 (2020.. £3,901.187).
The policy of Ihe trustees is lo build up an inveslment fund for the longer-temi benefil of the
school and its pupils and that the capital should be invested so as to maximise the total
relum Icapilal growth plus income) with a ffledium level of risk. The reserves policy is
reviewed annually.

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re ort and Financial Statements - Year Ended 31 Au
ust 2021
TRUSTEES. ANNUAL REPORT (cont)
The Truslees consider annually the perfomiance and total retum of the investment fund in
determining the amount of the tnjst's income. which is to be provided to the School for the
payment of the bursaries.
Total return from the investments is split belween funds retsined as capital and funds used
as income. The investment of ￿pital will be the main source of ongoing income and so the
fund will be invested with the objeclive of ensuring that the portfolio retains approximately its
real value in the medium temi.
GOING CONCERN
At the lime of approval of the financial statements. the Covid19 pandemic has begun lo
recede and lrfe in the UK is beginning to ￿tuM to nom)al. Investment 9rowth has been
positive and fundraising efforts have resumed.
The Trustees C£*ntinue to closely monbtor the situation and believe that the charity is able lo
continue as a going concem for the foreseeable future, being at least twelve months from
the dale of approval of these financial slalements. and have Iherefore prepared the financial
statements on a going o)ncem basis.
PRINCIPAL RISKS AND UNCERTAINTIES
The main risks lo the Trust are donor contrt)ution levels and investment volatility. The
Extemal Relations and Devek)pment offi￿ WOTk to maintain and develop donations and
legacies on behalf of the Trust and investment is mitigated. as far as possible. by using
professional extemal advisers to infomi investment choices. The Trustees regulady review
and challenge the perfO￿an￿ of bolh these teams. The Trust is also dependent on
Cheadle Hulme School for generdl administration.
PLANS FOR FUTURE PERIODS
The Trustees will continue to monitor general fund raising aclivities and investment
perf0mlan￿ with the aim of increasing the lolal value of the fund year on year.
STATEMENT OF TRUSTEES, RESPONSIBILrriES
The Trustees must prepare financial statements for each financial year which show a true
and fair v¢ew of the stale of affairs of the charity and its financial activf(ies for that peri(Kl. In
preparing those financial statements. the Tnjstees a￿ required to:
select suitable accounting policies and then apply them (￿nsIstentIy.'
make judgements and estimates that are reasonable and prudent.,
state whether applicab￿ accounting standards and statements of recommended
practi(* have been followed, subject lo any departures disclosed and explained in
the financial slatements: and
prepare the financial statements on the going concern basis unless it is inappropriate
to presume that the charity will continue in operational existence.

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re
ort and Financial Statements - Year Ended 31 Au
ust 2021
TRUSTEES. ANNUAL REPORT {cont)
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 CharIt￿S Act 2011. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps
for Ihe prevention and detection of fraud and other Irregularit￿$.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the Trustees are aware
• there is no relevant audit information of which the charity's auditors are unaware. and
• the Trustees have laken all the sleps thal ought to have been taken as Trustees in
order to be aware of any information needed by the auditors in connection with
preparing their report and to establish that the charity's auditors are aware of that
information.
The Trustees have also taken all reasonable steps to comply with their obligations as sel out
by the Charity Commission to act in the best interests of the tharity and comply with their
legal dulles under chariiy law. including their duty of prudence.
Approval
The Trustees Report, was approved by the Board on
behaw by-
and signed on its
D C Shipley
Chairman of the Board of Trustees

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements - Year Ended 31 Au
ust 2021
Independent Auditof s Report to the Trustees of Cheadle Hulme
School 150th Anniversary Bursary Trust
Opinion
We have audited the financial statements of Cheadle Hulme School 150th Anniversary
Bursary Trust {'the charity.) for the year ended 31 August 2021 which comprise the
Statement of Financial Activities, the Balan￿ Sheet. the Statement of Cash Flows and notes
to the financial statements. including signrfi<*nt accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland (United Kingdom G8nerally Accepted
Accounting Practice).
In our opinion the financial statements:
give a Irue and fair view of the state of the charity's affairs as at 31 August 2021 and of
ils income and expenditure. for the year then ended..
have been properly prepared in aCC￿rdance with United Kingdom Generally Accepted
Accounting Practice.. and
have been prepared in accordance with the requirements of the Chartties Act 2011.
Basis for opinion
We conducled our audit in accordan￿ with Intemational Standards on Auditing IUKI IISAS
IUKII and applicable law. Our responsibilit￿S under those standards are further described in
the Auditor's responsibilities for the audit of the financial statements section of our report.
We are independent of the charity 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 fulfilled our other ethical responsibilities in accordance with these
requirements. We believe Ihal the audit evidence we have obtained is sufficient and
appropriale to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the Trustees use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfom)ed. we have not identified any material uncertainties
relating lo events or conditions that, irnlividually or colleclively, may cast signrficanl doubt on
the charity's ability to continue as a going concern for a period of at least ￿e1ve months from
when the financial statements are authorised for issue.
Our responsibilrties and Ihe responsibilities of the Trustees with respect to going concern are
described in the relevant sections of this report.
Other information
The Trustees a￿ responsible for the other infomiation cDnlained within the annual report.
The other infomation comprises the information included in the annual report, other than the
financial statements and our auditorfs report Ihereon. Our opinion on the financial statements
does not cover the other information and, ex￿pt to the extent otherwise explicitly stated in
our report. we do not express any fomi of assurance condusion thereon.

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re
ort and Financial Statements - Year Ended 31 Au
ust 2021
Independent Auditor's Report to the Trustees of Cheadle Hulme
School 150th Anniversary Bursary Trust continued
Our responsibility is to read the other inforniation and. in doing so. consider whether the
other information is materially inconsistent wilh the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misststements, we are required to determine
whether this gives rise lo a material misstatement in the financial statements themselves. If.
based on the work we have performed. we conclude that there is a material misstatemenl of
this other information, we are required lo repK)rt that fact.
We have nothing to report in this ￿gard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the
Charities {Accounts and Reports) Regulat￿n$ 2008 requires us to report to you if, in our
opinion..
the information given in the financial statements is inconsistent in any material respect
with the trustees, report.. or
sufficient and proper accounting records have not been kept by the charty; or
the financial statements are nol in agreement with the accounting records and retums"
or
we have not received all the infornation and explanatvjns Y￿ require for our audit.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement set out on page 4. the
trustees are responsible for the preparation of the financial statements and for being
satisfied that they give a true and fair view. and for such intemal control as the trustees
determine is necessary to enable the preparation of financial stalemenls that are free from
material misstatement. whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charity's
ability to continue as a going concem. disclosing. as applic2ble. matters related to going
concern and using the going concem basis of accounting unless the trustees either intend to
liquidate the charity or lo cease operations. or have no realislic altemative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as audttor under section 151 of the Chartties Acl 2011 and report
in accordance with the Acts and relevant regulations made or having effect thereunder.
Our objectives are lo obtain reasonable assurance about whether the fmancial statements
as a whole are free from material misstatement. whether due to fraud or error, and lo issue
an auditor's report that includes our opinion. Reasonable assurance is a high level of
assurance, but is not a guarantee thal an audit conducted in accordan￿ with ISAS {UKI will
always detect a material misstatemenl when it exists. Misslatements can arise from fraud or
error and are considered material rf. individually or in the aggregate, they could reasonably
be expected to influence the economic decIs￿nS of users taken on the basis of these
financial statements.

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements- Year Ended 31 Au
ust 2021
Independent Auditor's Report to the Trustees of Cheadle Hulme
School 150th Anniversary Bursary Trust continued
Details of the extenl to which the audit was considered capable of detecting irregularities,
including fraud and non-compliance with lav￿ and regulations are set out below.
A further descriplion of our responsibilities for the audil of the financial slatements is located
on the Financial Reporbng Council's website at- www.frc.org.ukjaudilorsresponsibilities. This
description forms part of our auditor's report.
Extent to which the audit was considered capable of detecting
irregularities, including fraud
Irregularities. including fraud. are instances of non-compliance with laws and regulatK)ns. We
identified and assessed the risks of malerial misstatemenl of the financial 5tatemenls from
irregularities, whether due to fraud or error, and discussed these between our audit leam
members. We then designed and perfom)ed audit procedu￿$ responsive to those risks,
including obtaining audit evidence sufficient and appropriate to provide a basis for our
opinion.
We obtained an understanding of the legal and regulatory frameworks within which the
charity operates. focusing on those laws and regulations that have a direct effect on the
determination of material amounts and disclosures in the financtal slatements. The laws and
regulations we considered in this context were the Charilies Acl 2011 together with the
Charities SORP {FRS 1021. We assessed the required Complian￿ with these laws and
regulations as part of our audil procedures on the related financial statement items.
In addition, we considered provisions of olher laws and ￿gUlationS that do not have a direct
effect on the financial statements but compliance with whith might be fundamental to the
charity's ability to operale or to avoid a material penalty- We also considered the
opportunities and incentives that may exist within the (alarity for fraud. The laws and
regulalions we considered in this context for the UK operations were the Charities Act 2011.
Audrting standards limit the required audit procedures to identrfy non-compliance with these
laws and regulations to enquiry of the Trustees and other managemenl and inspection of
regulatory and legal correspondence. rf any.
We idenlrfied the greatest risk of material impact on the financial statements from
ir￿gUIarl1ies, including fraud, to be within the timing of recognition of voluntary income and
the override of conlrols by management. Our audil procedures lo respond lo these risks
included enquiries of management about their ovm identrfication and assessment of the risks
of irregularities, sample lesling on the t)osting of journals, reviewing accounting estsmales for
biases, reviewing regulatory correspondence with the Charity Commission, reading minutes
of meetings of those charged with governance and sample testing of voluntary income.
Owing to the inherent limitations of an audit. the￿ is an unavoidable risk that we may not
have detected some material mi5Statements in the financial slatemenls, even though we
have properly planned and perfomied our audit in accordance with auditing standards. For
example, the fvrther removed non-compliance wrth laws and regulations (irregularities) is
from the events and transactions reflected in the financial statements. the less likely the
inherently limited prO￿ureS required by auditing standards would identrfy it. In addition. as
with any audit, there remained a higher risk of non-detection of irregularities. as these may
involve collusion. forgery, intentional omissions. misrepresentations, or the override of
internal controls. We are not responsible for preventing non-compliance and cannot be

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re
ort and Flnan¢lal Statements - Year Ended 31 Au
ust 2021
expecled to delect nonry(x)mpliance with all laws and regulatK)ns.
Independent Auditorfs Report to the Trustees of Cheadle Hulme
School 150th Anniversary Bursary Trust continued
Use of our report
This report is made solely to the charity's trustees. as a body. in accordance with Part 4 of
the Charities (Accounts and Reports) Regulations 2[￿8. Our audit work has been
undertaken so that we might state to the charity's trustees those matters we are required to
state to them in an 8uditor's report and for no other purpose. To the fullest extent permitted
by law, we do not accept or assume responsibility to anyone other Ihan the charity and the
charity's trustees as a body, for our audit work. for this rewrt. or for the opinions we have
fomied.
UKUF
Crowe U.K. LLP
statutory Auditor
The Lexicon
Mount Street
Manchester
M2 5NT
Date 19th May 2022

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements-year Ended 31 Au
Ust 2021
STATEMENT OF FINANCIAL ACTIVITIES
Note Unrestricted Restrlcted
Funds
Funds
Total
Funds
Total
Funds
2021
2021
2021
2020
Income
Income from generated funds
Donation and legacy income
Investment income
221.674
79,501
94.210
315.884
79.501
191,386
82.258
Total income
301.175
94.210
395.385
273,644
Expenditure
Cost of generating funds
Investment management costs
Charitable activities
26.191
150.066
26.191
163.714
8.486
112,933
13.648
Total Expenditure
176.257
13.648
189.905
121.419
Net income before olher
recognised gains and losses
Transfers be￿een funds
124.917
80.562
205.479
152,225
10
GainllLoss} on investments
Net Movement in Funds
691,425
691.425
132.6891
816,342
80.562
896.904
119.536
Balan￿ brought forward at 1
September 2020
Balance carried forward at 31
August 2021
3.901.187
59.395 3.960.582
3.841,046
4.717.529
139.957 4.857.486
3,960,582
The charity's income and expeThliture all relates to continuing operations.
io

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re
ort and Flnan¢ial Stalements- Year Ended 31 Au
ust 2021
BALANCE SHEET AT 31 AUGUST 2020
Note
2021
2020
Flxed Assets
Investments
4,579,812 3.684.844
Current Assets
Debtors
Cash at bank and in hand
29.660
248,014
51,030
224,708
277.674
275,738
Liabilities: amounts falling due within on• year
Net Current Assets
277,674
275.738
Tolal Assets less Current Llabllltlos
4.857.486 3,960,582
Restrlcted funds
Unrestricted funds
10
139.957
59,395
11 4.717.529 3.808.069
Total funds
12 4,857,486 3,960,582
The financial statements were approved by the trustees on
their behalf by..
and signed on
Trustee- D C Shipley

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements- Year Ended 31 Au
ust 2021
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2021
2021
2020
Cash flows from operating activities:
Nel movement in funds
Adjusled for:
IGainllLoss on investments
Interest receivable
Dividend income
Decreasel{increase) In Trade and
Other Receivables
Decrease in Trade and Other
Payables
896.904
119,536
(691.425)
110.171)
169,330)
21,370
32,689
(1.407)
180.852)
{51,030)
(136,443)
Nel
cash
inflowl(outflow)
operating activities
from
147.349
1117,506)
Cash flows from investing activities
Interest received
Dividends received
Purchase of investments
Sale of investments
10.171
69.330
(1.013.676
822,436
1,407
80,852
(2,817,440)
2,439,122
Net cash ouffiow from investing
activities
(111,740)
(296.060)
Net Increase in cash & cash
equivalents
35,609
(413,5661
Opening cash & cash equivalents
309.182
722,748
Closing cash & cash equivalents
344.791
309,182
Movement In cash
35.609
(413,5661
Cash and cash equivalents
2021
2020
Cash at bank
Investment cash accounts
248,014
96,777
224.708
84.474
344.791
309,182
12

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements - Year Ended 31 Au
U5t 2021
NOTES TO THE ACCOUNfs FOR THE YEAR ENDED 31 AUGUST 2021
A¢¢ountlng Policles
General Inforniation
Cheadle Hulme School 150 Anniversary Bursary Trust is a non-profit making trust
established in the United Kingdom.
Basls of accountlng
The financial statements have been prepared in accordan￿ with the Charities
Statement of Recommended Practice IFRS 102) in accordan￿ with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the
Financial Reporting Slandard applicable in the Uniled Kingdom and Republic of Ireland
IFRS 102) and the Charities Act 2011 and UK Generally A￿pted Practice.
The financial statements have been prepared tr) give a Irue and fairf view and have
departed from the Charities (Accounts and Reports) Regulations 2008 only to the
extent required to provide a true and fair view. This departure has involved following
the Charities Staternenl of Recommended Practi￿ {FRS 102) in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)
rather than the 'Accounting and Reporting by Charities.. Statemenl of Recommended
Practice Charities SORP 2005. which has since been withdravm.
Cheadle HUIn￿ School 150 Anniversary Bursary Trust meets the definition of a public
benefit entty under FRS 102.
Going concern
Al the time of approval of the financial slatements, the Covid19 pandemic has begun
to recede and lrfe in the UK is beginning to retum lo nomal. Initial investmenl volalility
appears to have settled down, and investment growth has been positive and
fundraising efforts have resumed.
The Truslees continue to closely monitor Ihe situation and believe thal the charity is
able to continue as a going o)ncem for the foreseeable future. being at least twelve
months from the date of approval of these financial stalements, and have therefore
prepared the financial slatements on a going con￿rn basi5.
Unrestrl¢ted funds
un￿ stricted funds a￿ donations and other incoming ￿SOurCeS re￿iVed or generated
for charitable purposes.
13

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statemenls -year Ended 31 Au
ust 2021
NOTES TO THE Accoupifs FOR THE YEAR ENDED 31 AUGUST 2021
Accounting Policies (continued)
Flxed asset Investments
Fixed asset investments are stated at market value. Gains and losses on disposal and
revaluation of investments are charged or credited lo the Statement of Financial
Activities.
Donatlons
Donations receivable are credited lo Ihe Statement of Financial Activities in the period
to which they relale, generally the earlier of notrficalion or receipt.
Investment Income
Investment income relates to income received from fixed asset investments.
Cash and ¢ash equlvalents
Cash is represented by (xsh at bank and in hand wtth financial Institut￿nS repayable
without penalty on noti￿ of not more than 24 hours. Cash equivalents are represented
by the cash accounts within fixed asset investments.
Expenditure
Expenditure is included in the Statement of Financial Activities on an accruals basis.
Govemance costs indude those (x)sts In￿rred in the governance of the charity and its
assets and are primarily associated with constitutional and statutory requirements.
Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In applying the charity's accounting policies. the trustees are required to make
judgements. estimates and assLbmptKsns in detemiining the r2rrying amounts of assets
and liabilities. The truslees. judgements, estimates and assumptions are based on the
best and most reliable evidence available at the time when the decisions are made.
and are based on historical experien￿ and other factors that are considered to be
applicable. Due to the inherent subjectivity involved in making such judgements,
estimates and assumptions. the actual results and outcomes may differ.
The estimates and undedying assumptions are ￿vieWed on an ongoing basis.
Revisions to accnunting estimates are recognised in the period in which the estimate is
revised. if the revision affects only that peri(Kl, or in the period of the revision and
future periods. rf the revision affects both current and future peri(KJs.
There are no critical accounting judgements or key Sou￿$ of estimation uncertainty.
14

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re
ort and Financial Statements- Year Ended 31 Au
ust 2021
NOTES TO THE AccouTrrrs FOR THE YEAR ENDED 31 AUGUST 2021
Voluntary Income
Unrestricted Restricted
Funds
Funds
2021
2020
Donations and
legacy income
Gift aid
202,130
94,210 296,340
187,709
19.544
221,674
19.544
94,210 315,884
3,677
191.386
Investmenl Incomo
2021
2020
Dividends
Interest receNable
69.330
10.171
80,852
1.406
79,501
82,258
Investment management costs
The investment management o)sts represent the management fees charged by
Rathbones Investment Management. Where management fees are charged within
unit funds, these costs are reflected wtlhin the unit pri￿. Costs are netted off income
as they cannol be quanlrfied by the investment manager.
The increase in
management costs from 2020 is due to improved transparency of costs cnmpared to
last year.
Charitable activities
2021
2020
Bursaries
Bank charges
163.648
66
112.892
41
163.714
112,933
None of the Trustees were pawj or reimbursed for expenses durirKJ the year {2020'.
£nil)-
The trust had no employees in the (xjrrent or prior year.
Costs in respect of the audit of the financial statements were bome by Cheadle
Hulme School. The School and the Trust have the same auditor. No other services
were provided by the auditor.
15

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements - Year Ended 31 Au
ust 2021
NOTES TO THE ACCoUP￿s FOR THE YEAR ENDED 31 AUGUST 2021
Fixed Asset Investments
2021
2020
Investments
Market value at 1 September
Addrtions
Disposals
Net inveslment gainllloss)
3,600,370 3,254,741
1.013,676 2,817,440
1822,436) (2.439.122)
691,425
(32,689)
Market Value at 31 August
4.483.035 3,600,370
Dealing account, cash
96.777
84.474
Fixed Asset Investments
4.579.812 3.684.844
Hislorical cost at 31 August
3.879.294 3,218,479
Investments comprise:
2021
2020
Ralhbones- discretionary investment fund
CCLAJCOIF investment fund units
3.951,545 3.389,138
531.490
211.232
4.483.035 3.600.370
CCLAJCOIF units held
2.264.69
1,089.64
Debtors
2021
2020
Amount owed by Cheadle Hulme School
29,660
51,030
29,660
51,030
Cash
2021
2020
Cash on deposil
248.014
224,708
16

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re
ort and Financial Statements- Yoar Ended 31 Au
usl 2021
NOTES TO THE Accouprrs FOR THE YEAR ENDED 31 AUGUST 2021
Liabilities: Amounts falling due within one year
2021
2020
Accruals and other creditors
Amounts owed to assocrated underta￿ngS
10
Restricted Funds
Balan¢0
1 September
2020
Balance
31 August
2021
Income Expenditure
Transfers
Old Waconians
Educatlon Fund
Single student donation
32,977
26,418
59.395
(1.1901
12.458
13,648
31.787
108.170
139,957
94,210
94.210
Old Waconians Education Fund
These restricted funds relate to amounts re￿iVed by the Trust to assist students of Cheadle
Hulme School who are in receipt of bursary financial assistance with ancillary costs
associated with attending school such as unrfomi. equipment and educational trips.
Single Student Donation
These are donations which are designated for indNidual students.
11
Unrestricled Funds
Balance
Balance
31
August
2021
Septsmber
Gains on
2020 Income Expenditure investments Transfers
General
3.901.187 301.175
3.901.187
301.75
176.257
176.257
691,425
691.425
4,717,529
4,717,529
17

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements-year Ended 31 Au
ust 2021
NOTES TO THE AccouKfs FOR THE YEAR ENDED 31 AUGUST 2021
12
Analysis of net assets between funds
2021
Net Current
Assetsl
Investments {Liabilitie51
2021
Total
Restricted Funds
139.957
139.957
Unrestricted Funds
4.579.812
4.579,812
137.717
277,674
4.717.529
4,857,486
Net Current
Assetsl
Investments (Liabilities)
2020
2020
Total
Rostricted Funds
59,395
59,395
Unrestrl¢ted Funds
3,684.844
3.684.844
216.343
275.738
3.901,187
3.960.582
13
Financlal Instruments
The Trust only has financial assets and financial liabilities of a kind that qualify as
basic financial inslrumenls. Basic financial instruments are initially recognised at
transaction value and subsequentty measured at their settlement value.
The carrying amount of the financial instruments at 31 August were:
3110812021
3110812020
Financial assets-
Financial assets measured at amortised o)st lal
Financial assets measured at fair value (bl
Total
277.674
4.579.812
4.857.486
275.738
3.684.844
3,960.582
3110812021
3110812020
Financial liabilities..
Financial liabilities measured at amortised cost {cl
Total
(a} Financial assets measured at arrK)rtised cost indude cash at bank and other
debtors
(b) Financial assets held at fair value include assets held as investments
(c) Finan￿al liabilities measured at amortised LX)St include accruals and other
creditors
18

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements - Year Ended 31 Au
ust 2021
NOTES TO THE AcCOUP￿s FOR THE YEAR ENDED 31 AUGUST 2021
14
Related Party Transactions
Included wilhin debtors is an amount of £29,660 (2020: £51.139) owed by Cheadle
Hulme School. Mr P Driver resigned as a director of Cheadle Hulme School in
December 2020. Dr D N Riley. Mrs C Boyd, Ms B Walmsley and Mr S Abraham are
directors of Cheadle Hulme School. Mr N Smith is Head of Cheadle Hulme School.
During the year, the Trust granted bursary money to Cheadle Hulme School
amounting to £163.648 (2020.. £112,892)-
19