CHEADLE HULME SCHOOL 150th ANNIVERSARY
BURSARY TRUST
REPORT AND FINANCIAL STATEMENTS
Year ended 31 August 2022
Charity Number 1115254

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Report and Financial Statements- Year Ended 31 Au
ust 2022
CONTENTS
Page
Trustees. Annual Report
Independent Auditor's Report
Statement of Financial Actiwties
10
Balance Sheet
Statement of Cash Flows
12
Notes to the Financial Statements
13-19

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements - Year Ended 31 Au
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TRUSTEES, ANNUAL REPORT
LEGAL AND ADMINISTRATIVE INFORMATION
Charity Name
Cheadle Hulme School 150th Anniversary Bursary Trust
Address
lo Cheadle Hulme School
Claremont Road
Cheadle Hulrne
Cheadle
Cheshire
SK8 6EF
Charity Number
1115254
Governing Instrument
Trusl Deed
Trustees
Dr O N Riley (Chair from May 2022)
Mr D C Shipley (Chair until resigned May 2022)
Mf S L Jones (resigned May 20221
Mrs S Hardy (resigned November 2022)
Mr P Driver
Mr N Smith
Mr S Abraham
Mr J Winter
Mrs B Walmsley
Mr l Jepson
Mrs C Boyd
Mr C Brennan (apwinted May 2022)
Indèpendent Auditor
Crowe U.K. LLP
The Lexicon
Mount Street
Manchester
M2 5NT
Investment Management
Rathbone Inveslmenl Management
Port of Liverpool Building
Pier Head
Liverpool
L3 1NW
CCLA Investment Management
Senator House
85 Queen Victoria Street
London
EC4V 4ET
Bankers
Barclays Bank PLC
P.0. Box 357
51 Mosley Street
Manchester
M60 2AU

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements- Yoar Ended 31 Au
ust 2022
TRUSTEES, ANNUAL REPORT
HISTORY, OBJECTIVES AND ACTIVITIES OF THE TRUST
The Cheadle Hulme School 150 Anniversary Bursary Tnjst was established by a deed
dated 9 February 2006. The Declaration of Trust was reviewed and updated on 8 October
2017 and 24 February 2021.
The objects of Cheadle Hulme School 150 Anniversary Bursary Trust are to apply the
income to pay all or any parl of the fees 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 unifomis, school lunches, personal educational equipment,
school trips and transport to enable the pupils to attend Cheadle Hulme School.
In selting the objects, the trustees have given careful consideration to the Charity
Commission's set of three public benefit guides and to supplementary public benefit
guidance on advancing education. In achiewng its objectives, the trustees are confident the
trust is meeting its public benefit requirement.
In 2009 the assets of the Niel 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 two limes a year. The Trust is operated in accordance with the Declaration of Trust.
MANAGEMENT AND GOVERNANCE ARRANGEMENTS
In selecting individuals for appointment as trustees, the trustees must have regard to the
skills, knowledge and experience needed for the effective administration of the charity and
musl appoint from the following class of persons to a maximum from each class as indicated
in the brackets..
a) Headleacher (1)
b) Member of staff from Cheadle Hulme School (1)
c) Board of Governors of Cheadle Hulme School {4)
d) Former Pupils and Fomier Staff of Cheadle Hulme School {3)
el Parenls of children currently attending Cheadle Hulme School (2)
fl Independent people {3)
The trustees may serve for a terrn of three years and will be eligible for re-election at the end
of the 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. the policies in place
relating lo the Irust, administrative procedures. the history and philosophical approach of the
trust. A new trustee re￿iVeS copies of the previous year's annual report and accounts and a
copy of the Charity Commission leaflet 'The Essential Trustee- What You Need to Know..
What You Need To Do (May 2018)..
The investment management of the trust funds was undertaken through the year by an
independent financial advisor, Rathbone Investment Management and by CCLA Investment
Managemenl.
The trustees annually review the risks that the Trust faces.

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re
ort and Financial Statements- Year Ended 31 Au
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TRUSTEES, ANNUAL REPORT (cont)
The trust does not have any employees and therefore does not have any key management
personnel. 11 relies on officers of the School to prowde its administration. fundraising and
accounting services without charge
PROCEDURES AND POLICY FOR GRANT MAKING
The trustees wll normally meet hvo times a year to review Ihe inveslment funds and to
consider how to apply the funds. Bursaries totalling £150.000 (2021.. £150.0001 were
awarded in the financial year ending 31 August 2022. A further £13.960 bursary was given
from restricted funds (2021= £13.648)
ACHIEVEMENTS AND PERFORMANCE OF THE TRUST
The Trust has recognised gross income totalling £284.049 (2021: £395.385) in the year
including £0 restricted income (2021.. £94.210) Investment growlh has been negative,
reflecting significant wortd events. including the war in Ukraine. and high inflation.
Fundraising efforts by the School have focussed on the Bursary Trust itself.
FUNDRAISING DISCLOSURE
The school has an Extemal Relations and Development office. an important purpose of
which is to raise funds for the school trusts. The costs of running the teams are borne by the
school.
During the year fundraising efforts continued to promote the Amazing Campaign for
bursaries to Old Waconians and current and fomier parents who had premously given to the
Bursary Fund. The appeal was segmented according to the differenl target audience and
was supported by an engaging social media campaign across Linkedln, Fa￿boOk,
Instagram and Twitter. Following a period of redU￿d fundraising activity due to Covid and a
number of changes in the team. the team is now in a position lo remsit the major gift
programme. An Old Waconian with signrficant experience in fundraising and development
has conducted a feasibility study to ascertain potential for fundraising for some key projects
highlighted in the new CHS 2030 strategy. The findings will be presented to the Board in
January 2023.
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 activity
is carried out in line with the advice and regulations adhering to best practice. Through
training and compliance with the Fundraising Regulator the school ensures that vulnerable
people are protected from any intrusive fundraising. No fomial complaints were received due
to activities carried out by the charity- Infomiation 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 before other recognised gains and losses for the year was £91,621 12021..
£205.478) after operational expenses and bursaries of £192,427 (2021: £189,905). The
change in nel income is primarily due to lower donations in the current year driven by the
impact of Covid. The total unrestricted funds at the year*nd were £4,518,330 12021..
£4.717.529).

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
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RESERVES POLICY
The policy of the trustees is to both build up a substantial fund for the longer-temi, whilst
also continuing to make a significant donation to Cheadle Hulme School each year for the
benefit of school's Financial Assistance programme. Funds are built up through donations
made to the trust and also from any gains on the investments held. The capital is invested so
as to maximise the total retum (capital growth plus income) with a medium level of risk. Cash
reserves are also maintsined at a level intended lo cover any agreed annual donation lo
Cheadle Hulme School. Students offered financial assistance at Cheadle Hulme School
usually stay at the school for up to 7 years. from year 7 to upper sixlh fomi, so the trust aims
to ensure that funds are available to support those pupils over that lime period. The reserves
policy is reviewed annually.
GOING CONCERN
At the time of approval of the financial statements. global events continue to impact
investment value volatility. These include the war in Ukraine, significant inflation increase
around the globe. rising interest rates and continuing post-covid global supply chain
shortages. Investments have reduced in value over Ihe course of the year, but fundraising
efforts have resumed.
The Trustees conlinue to closely monitor the situation and believe that the charity is ablè to
continue as a going concem for the foreseeable future, being at least Iwelve months from
the date of approval of Ihese financial statements and have therefore prepared the financial
statements on a going con￿rn basis.
PRINCIPAL RISKS AND UNCERTAINTIES
The main risks to the Trust are donor contrbbution levels and investment volatility. The
External Relations and Development Office work to maintain and develop donations and
legacies on behalf of the Trust and investment risk is mitigated. as far as possible. by using
professional external adwsers to inform investment choices. The Trustees regularly review
and challenge the performan￿ of bolh these teams. The Trust is also dependent on
Cheadle Hulme School for general administration.
PLANS FOR FUTURE PERIODS
The Trustees will continue to monitor general fund raising activities and inveslment
performance with the aim of increasing the total value of the fund year on year.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Truslees must prepare financial statements for each financial year which show a true
and fair view of the stale of affairs of the charity and its financial activities for that period. In
preparing those financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently.
make judgements and estimates that are reasonable and prudent:
slate whether applicable accounting slandards and statements of recommended
practice have been followed, subject to any departures disclosed and explained in
the financial statements- and
prepare the financial slatements on the going concem basis unless it is inappropriate
to presume that the charity will continue in operational existen￿.

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Ro
ort and Financial Slatemonts - Year Ended 31 Au
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TRUSTEES, ANNUAL REPORT {cont.)
The Trustees are responsible for keeping proper accounting records. which disclose with
reasonable accuracy al any time the financial position of the charity and enable them to
ensure that the financial statements comply with the Charities Act 2011. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the Trustees are aware
there is no relevant audit infom)ation of which the charity's auditors are unaware, and
• the Trustees have taken all the steps that ought to have been tsken as Truslees in
order to be aware of any information needed by the auditors in connection with
preparing their report and lo establish Ihat the Gharity's auditors are aware of that
information.
The Trustees have also taken all reasonable steps to comply with their obligations as set out
by the Charity Commission to act in the best interests of the charity and comply with their
legal duties under charity law. including their duty of prudence.
Approval
The Trustees Report, was approved by the Board on i 2oz3and signed on its
behalf by:
Dr D Riley
Chair of
oard of Trustees
Date: i i Rel

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
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Independent Auditor's Report to the Trustees of Cheadle Hulme
School 150th Anniversary Bursary Trust
Opinion
We have audited the financial statements of Cheadle Hulme School 150 Anniversary
Bursary Trust ('Ihe charity,) for the year ended 31 August 2022 which comprise the
Statement of Financial Activities, Ihe Balance Sheel. the Statement of Cash Flows and notes
to the financial statements, including significant 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 Generally Accepted
Accounting Practice).
In our opinion the financial statements=
give a true and fair view of the state of the charily's affairs as at 31 August 2022 and of
its income and expenditure. for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Praclice-. and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS
IUKII and applicable law. Our responsibilities 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
relevanl 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 that the audit ewdence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing Ihe financial slatemenls, we have concluded that the Truslees use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties
relating to events or conditions that. individually or collectively. may cast significant doubt on
the charity's ability to continue as a going concem for a period of al least ￿e1ve months from
when the financial statements are authorised for issue.
Our responsibilities and the responsibililies of the Trustees V￿th respect to going concern are
described in the relevant sections of this report.
Other information
The Trustees are responsible for the other infomiation contained within the annual report.
The other information comprises the infomiation included in the annual report, olher than the
financial statements and our audilor's report thereon. Our opinion on the financial statements
does not cover the other information and. except to the extent otherwise explicitly stated in
our report, we do nol express any fomi of assuran￿ conclusion thereon.

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements - Year Ended 31 Au
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Independent Auditor's Report to the Trustees of Cheadle Hulme
School 150th Anniversary Bursary Trust continued
Our responsibility is to read the other infomiation and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misslated. If we identify such
material inconsistencies or apparent material misststements, we are required to detemiine
whether this gives rise to a material misstatement in the financial statements themselves. If,
based on the work we have perfornied, we conclude that there is a material misstatement of
this other information. we are required to report that fact.
We have nothing to report in this regard.
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) Regulations 2008 requires us to report to you if. in our
opinion..
the information given in the financial statements is inconsistent in any material resped
with the trustees. report- or
sufficient and proper accounting records have not been kept by the charity; or
the financial slalemenls are not in agreement with the accounting records and returns,.
or
we have not received all the infomiation and explanations we 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 internal control as the Irustees
determine is necessary to enable the preparation of financial statements that are free from
material misstatemenl, 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 applicable. matlers related to going
concern and using the going concern basis of accounting unless the trustees either intend to
liquidale the charity or to cease operations. or have no realistic allernative bul to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 151 of the Charities Act 2011 and report
in accordance with the Acts and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statemenls
as a whole are free from material misstatement, whether due to fraLJd or error, and to issue
an auditor's report that includes our opinion. Reasonable assurance is a high level of
assurance, but is nol a guarantee thal an audit conducted in accordance with ISAS {UKI will
always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material rf, indiwdually or in the aggregate, they could reasonably
be expected to influence the economic decisions of users taken on the basis of these
financial statements.

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Ro
ort and Financial Statements - Year Ended 31 Au
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Independent Auditor's Report to the Trustees of Cheadle Hulme
School 150th Anniversary Bursary Trust continued
Details of the extent to which the audit was considered Gapable of detecting irregularities,
including fraud and non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audtt of the financial statements is located
on the Financial Reporting Council's website at= vMw.frc.org.uklauditorsresponsibilities. This
descrbplion fomls 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 regulations. We
identified and assessed the Tisks of material misslatement of the financial statements from
irregularities. whether due to fraud or error, and discussed these belween our audit team
members. We then designed and performed audit procedures 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 frameworf(s 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 financial statements. The laws and
regulations we considered in this context were the Charities Act 2011 together with the
Charities SORP {FRS 102). We assessed the required cornplian￿ with these laws and
regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct
effect on the financial statements but compliance with which might be fundamental to the
charity's ability lo operale or lo avoid a material penalty. We also considered the
opportunities and in￿ntiVeS thal may exist within the charity for fraud. The laws and
regulations we considered in this context for the UK operations were the Charities Act 2011.
Audiling standards limil the required audit procedures to identify non-compliance with these
laws and regulations to enquiry of Ihe Trustees and other management and inspection of
regulatory and legal corresponden￿, if any.
We identified the greatest risk of material impact on the financial statements from
irregularities. including fraud. to be within the timing of recognition of voluntary income and
the override of controls by management. Our audit pro￿￿vreS to respond to these risks
included enquiries of management about their own idenlification and assessment of the risks
of irregularities. sample lesling on the posting of joumals. reviewing accounting estimates for
biases. reviewing regulatory correspondence with the Charity Commission, reading minutes
of meelings of those charged with governan￿ and sample testing of voluntary income.
Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not
have detected some material misstatements in the financial statements. even though we
have properly planned and performed our audit in accordance with auditing stsndards. For
example. the further removed non-complian￿ with laws and regulations (l￿egUlaritieSI is
from the events and transactions reflected in Ihe financial stalemenls, the less likely the
inherently limited procedures required by auditing standards would identify 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. misrepresentalions. or the override of
internal controls. We are not responsible for preventing non-complian￿ and cannol be

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Ro
ort and Financial Statements - Year Ended 31 Au
ust 2022
Independent Auditor's Report to the Trustees of Cheadle Hulme
School 150th Anniversary Bursary Trust continued
expected to detect non-compliance wth all laws and regulations.
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 2008. Our audit work has been
undertaken so that we might state to the charity's trustees those matters we are required to
slate to them in an audilor's report and for no other purpose. To the fullest extent pemiitted
by law. we do not accept or assume responsibility lo anyone other than the charity and the
harily s trustees as a body, for our audit work, for this report, or for the opinions we have
formed.
LLF
Crowe U.K. LLP
Slalutory Auditor
The Lexicon
Mount Street
Manchester
M2 5NT
Date
16thMay2023

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Ro
ort and Financial Statements - Year Ended 31 Au
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STATEMENT OF FINANCIAL ACTIVITIES
Note Unrestricted Restricted
Funds
Funds
Total
Funds
Total
Funds
2022
2022
2022
2021
Income
Income from generated funds
Donation and legacy income
Investment inGome
196,187
87,861
196.187
87,861
315.884
79.501
Total income
284,049
284.049
395,385
Expenditure
Cost of generating funds
Investment management costs
Charitable activities
28,420
150,048
28,420
164.008
26,191
163.714
13,960
Total Expenditure
178.468
13.960
192,428
189,905
Net income before other
recognised gains and losses
Transfers between funds
105,581
(13,960)
91.621
205,479
10
Gainl{Loss) on investments
Nel Movement in Funds
(304.780)
(304.780)
691,425
(199,199}
{13.960) (213.159)
896,904
Balance broughl forward at 1
September 2021
Balance carried forward at 31
August 2022
4.717,529
139,957 4,857,486
3.960.582
4,518,330
125,997 4,644.327
4.857.486
The charity's income and expenditure all relates to continuing operations.
io

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re
ort and Financial Statements - Year Ended 31 Au
ust 2022
BALANCE SHEET AT 31 AUGUST 2022
Note
2022
2021
Fixed Assets
Investments
Current Assets
Debtors
Cash al bank and in hand
6 4334.444 4,579,812
160.093
149.790
29,660
248,014
309.883
277.674
Liabilities: amounts falling due within one year
Not Current Assets
309.883
277.674
Total Assets less Current Liabilities
4.644.327 4,857,486
Restricted funds
Unrestricted funds
10
125,997
139.957
11 4,518,330 4,717,529
Total funds
12 4.644,327 4,857,486
The financial stalements were approved by the trustees on i )oz3 and signed on
their behalf by..
Tru
r D Riley

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements - Year Ended 31 Au
ust 2022
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2021
Cash flows from operating activities:
Nel movement in funds
Adjusted for..
(GainyLoss on investments
Interesl receivable
Dividend income
Decreasellincrease) in Trade and
Other Receivables
Decrease in Trade and Other
Payables
{213,159)
896.904
304.780
(8.451)
(79,410)
(130.433)
(691,425)
(10,171)
(69,330)
21,370
Net
cash
inflowl(ouffiow) from
operating activities
(126.674)
147.349
Cash flows from investing activities
Interest received
Dividends received
Purchase of investments
Sale of investments
8.451
79.410
{493.169)
511.288
10,171
69.330
{1,013,676)
822,436
Net cash ouffiow from investing
activities
105.980
(111,740)
Net increase in cash & cash
equivalents
{20,693)
35,609
Opening cash & cash equivalents
Closing cash & cash equivalents
344,791
324.098
309.182
344.791
Movement in cash
120,693)
35.609
Cash and cash equivalents
2022
2021
Cash at bank
Investment cash accounts
149,790
174.308
248.014
96,777
324.098
344,791
12

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
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ust 2022
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022
Accounting Policies
General Infomiation
Cheadle Hulme School 150 Anniversary Bursary Trust is a non-profit making trust
established in the United Kingdom.
Basis of accounting
The financial statements have been prepared in accordance with the Charities
Statement of Recommended Practice (FRS 102) in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the
Financial Reporting Standard applicable in the Uniled Kingdom and Republic of Ireland
(FRS 102) and the Charities Act 2011 and UK Generally Accepted Practi￿.
The financial statements have been prepared to give a 'true and fail Mew and have
departed from the Charities (Accounts and Reports) Regulations 2008 only to the
extent required lo prowde a true and fair wew. This departure has involved following
Ihe Charities Statement of Recommended Practice (FRS 1021 in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)
rather than the 'Accounting and Reporting by Charities.. Slatement of Recommended
Practice Charities SORP 2005" which has since been withdrawn.
Cheadle Hulme School 150 Anniversary Bursary Trust meets the definition of a public
benefit entity under FRS 102.
Going concern
At the time of approval of the financial statements. global events continue lo impaGI
investment value volatility. These include the war in Ukraine, significant inflation
increases around the globe. rising interest rates and continuing posl-covid global
supply chain shortages. Investments have reduced in value over the course of the
year, but fundraising efforts have resumed.
The Trustees continue to closely monitor the situation and believe that the charity is
able to continue as a going concem for the foreseeable future, being at least twelve
months from the dale of approval of these financial statements and have therefore
prepared the financial statements on a going concem basis.
Unrestricted funds
Unrestricted funds are donations and other incoming resources received or generated
to satisfy the objects of the charity.
13

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements - Year Ended 31 Au
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022
Accounting Policies (continued)
Fixed asset investments
Fixed asset inveslments are stated al market value. Gains and losses on disposal and
revalualion of investments are charged or credited to the Statement of Financial
Activities.
Donations
Donations receivable are credited to the Statement of Financial Activities in the period
to which they relate, generally the earlier of notification or re￿ipt.
Investment income
Investment income relates to income received from fixed asset investments.
Cash and cash equivalents
Cash is represented by cash at bank and in hand with financial institutions repayable
without penally on notice of not more Ihan 24 hours. Cash equivalents are represented
by the cash accounts within fixed asset investments.
Expenditure
Expenditure is induded in the Statement of Financial Activities on an accruals basis.
Governance costs include those costs incurred in Ihe govemance of the tharity and its
assels and are primarily associaled with constitutional and statutory requirements.
Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In applying the charity's accountirwJ policies. the trustees are required to make
judgemenls, estimates and assumptions in detemiining the carrying amounts of assets
and liabilities. The trustees. judgements, estimates and assumptions are based on the
best and mosl reliable evidence available at the time when the decisions are made,
and are based on historical experience and other factors that are considered to be
applicable. Due lo the inherent subjectivity involved in making such judgements.
estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions lo accounting estimates are recognised in the period in which the estimate is
revised, if the revision affects only that perFod. or in the period of the revision and
future periods. rf the rewsion affects both current and future periods.
There are no critical accounting judgements or key sources of estimation uncertainly.
14

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re
ort and Financial Statements - Year Ended 31 Au
ust 2022
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022
Voluntary income
Unrestricted Restricted
Funds
Funds
2022
2021
Donalions and
legacy income
Gift aid
181,970
181,970
296,340
14,217
196.187
14,217
196.187
19,544
315.884
Investment Income
2022
2021
Dividends
Inlerest receivable
79,410
8,451
69,330
10,171
87.861
79,501
Investment management costs
The investment management costs represent the management fees charged by
Rathbones Investment Management. Where management fees are charged within
unit funds, for both Rathbones and CCLA funds, these costs are reflected within the
unit pri￿. Costs are netted off income as they cannot be quantified by the investment
manager. The increase in management costs from 2021 is due to improved
transparency of costs compared lo last year.
Charitable activities
2022
2021
Bursaries
Bank charges
163.960
163.648
66
164.008
163,714
None of the Trustees were paid or reimbursed for expenses during the year {2021'.
£nil).
The trust had no employees in the current or prior year.
Cosls in respect of the audit of the financial slatemenls were borne 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 Endod 31 Au
ust 2022
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022
Fixed Asset Investments
2022
2021
Investments
Market value at 1 September
Additions
Disposals
Net investment gainl(loss)
4,483,035 3,600,370
493,169 1,013.676
(511.288) {822.436)
(304.780)
691.425
Market Value al 31 August
4.160.136 4.483.035
Dealing account. cash
174.308
96,777
Fixed Asset Investments
4.334.444 4.579.812
Historical cost at 31 August
3,956,178 3,879,294
Investments comprise:
2022
2021
Rathbones - discretionary investment fund
CCLAJCOIF investment fund units
3,638,778 3,951,545
521,358
531,490
4,160.136 4.483.035
CCLAICOIF units held
2,264.69
2264.69
Debtors
2022
2021
Amount owed by Cheadle Hulme School
160.093
29.660
160,093
29,660
Cash
2022
2021
Cash on deposit
149.790
248,014
16

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statements - Year Ended 31 Au
ust 2022
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022
Liabilities: Amounts falling due within one year
2022
2021
Accruals and other creditors
Amounts owed to associated undertakings
10
Restricted Funds
Balance
1 Soptember
2021
Balance
31 August
2022
Income Expenditure
Transfers
Old Waconians
Education Fund
Identifiable donations
31.787
108.170
139.957
31,787
94,210
125,997
13,960
13.960
Old Waconians Education Fund
These restricted funds relate to amounts re￿iVed by the Trust to assist studenls of Cheadle
Hulme School who are in receipt of bursary financial assistan￿ with ancillary costs
associated with attending school such as unrform, equipment and educational trips.
Identifiable Donations
These are specific donations designated for identified students.
11
Unrestricted Funds
Balance
Balanco
31
August
2022
September
Gains on
2021 Income Expenditure investments Transfers
General
4,717.529 284,049
4,717.529 284,049
178.4681 (304.780
178,468
304,780
4.518,330
4,518,330
17

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
Re
ort and Financial Statements - Year Ended 31 Au
ust 2022
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022
12
Analysis of nat assets between funds
2022
Not Current
Assetsl
Investhients (Liabilities)
2022
Total
Restricted Funds
125.997
125.997
Unrestricted Funds
4.334,444
4.334.444
183.886
309,883
4.518,330
4,644,327
Net Current
Assetsl
Investments (Liabilities)
2021
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
13
Financial Instruments
The Trust only has financial assets and financial liabilities 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.
The carrying amount of the financial instruments at 31 August were:
3110812022
3110812021
Financial assets..
Financial assets Measured al amorlised cost (a)
Financial assets measured at fair value (b)
Total
309,883
4,334,444
4.644.327
277.674
4.579.812
4.857,486
3110812022
3110812021
Financial liabilities..
Financial liabililies measured at amortised cost (c)
Total
(a) Financial assets measured at amortised cost include cash at bank and other
debtors
(b) Financial assets held at fair value include assets held as investrnents
(c) Financial liabilities measured at amortised cost include accruals and other
credilors
18

CHEADLE HULME SCHOOL 150th ANNIVERSARY BURSARY TRUST
ort and Financial Statemonts - Year Ended 31 Au
ust 2022
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022
14
Related Party Transactions
Included within debtors is an amount of £160.093 {2021.' £29.660) owed by Cheadle
Hulme School. Mr P Driver resigned as a director of Cheadle Hulme School in
De￿mber 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 Ihe year, the Trust granted bursary money to Cheadle Hulme School
amounting to £163,96012021: £163.648).
19