**REGISTERED CHARITY NUMBER: 1159447**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **FOR**
## **GILBERT HANNAM EDUCATION FOUNDATION**
Traviss & Co Ltd Chartered Certified Accountants Newtown House 38 Newtown Road Liphook Hampshire GU30 7DX
**GILBERT HANNAM EDUCATION FOUNDATION**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2025**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|11|
|**Detailed Statement of Financial Activities**||12||
**GILBERT HANNAM EDUCATION FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 August 2025**
The trustees present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Public benefit**
The charity confirms that the trustees have complied with their duty to have due regard to guidance on public benefit published by the Charity Commission in exercising its powers or duties and in deciding what activities the charity should undertake. The trustees believe that the charity's accounts demonstrate that it acts for the public benefit.
The object of the charity is the provision of items, services and facilities for the school i.e. Midhurst Rother College or such other secondary school for pupils from Midhurst and the surrounding area as may replace it. If and in so far as the income of the charity cannot be applied towards the object above, it may be applied in promoting the education of persons who are in need of financial assistance in the following order of priority:
a) Persons who are attending the School and
b) Persons who have at any time attended the School.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. At the forefront of their considerations have been the impact of the pandemic on students
## **ACHIEVEMENTS AND PERFORMANCE**
Over the last 12 months the Trust has met three times during the course of the year. The anniversary of the establishment of the original school was marked by a service of thanksgiving at Midhurst Parish Church and Foundation’s prize giving evening which was well attended by students, parent/carers, staff, governors, trustees and friends of the College.
The speaker at the evening prize giving was Member of Parliament for Chichester Jess Brown-Fuller MP, a former student of Midhurst Grammar School. This year's preacher at the thanksgiving service was the Reverend Liz Yonge, Curate of St Mary's Church Easebourne, St Peters Church Lodsworth, and St James Church Selham.
In supporting requests for assistance, trustees continue to delegate a sum of £2,000 for use by the Principal and one trustee: Phil Stringer; without reference to all trustees. This has been agreed in support of efficiency and confidentiality.
The trustees continue their commitment to support the College's response to the learning, development, and welfare of the students. Financial support of the counselling service provided by the College was continued, with funding to support the improvement of safeguarding and teaching resources.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
Smith & Williamson (Evelyn) Investment Management and Rathbones continue to look after the funds in line with the investment criteria contained within the Foundation's investment strategy. The strategy was reviewed during this reporting period.
## **Reserves policy**
The charity has minimal financial commitments with no obligations or employees. Therefore, the reserves policy is to have under investment sufficient funds to generate income in line with the charity's investment strategy and that the capital value will be preserved in perpetuity in line with inflation to continue to meet the objectives of the charity. Ignoring movements in valuation the trustees consider a portfolio value of between £2,500,000 and £3,000,000 sufficient to fund future activities. It is anticipated that the joint value of the portfolios will reach the £4,000,000 mark in the next financial year.
Page 1
**GILBERT HANNAM EDUCATION FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 August 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The charity was established by a charitable trust deed on 5 January 2011 (1159447) and was formerly known as Midhurst Grammar School Educational Foundation (3062231). The Foundation has a 5% interest in the land on which the College is located. The trustees are appointed to use their skills and experience in support of the aims of the Foundation and thus no specific induction training is required.
The trustees have considered the major risks to which the charity is exposed, supported by advice from the trust's financial advisers and are satisfied that systems are in place to mitigate exposure to those major risks.
Issues arising around proposed changes to the sports hall changing rooms highlighted to Trustees that there was a need to review the structure of the foundation. It was decided at the June meeting of the Trustees that legal advice would be sought to investigate whether it was appropriate for the foundation to become a CIO (Charitable Incorporated Organisation).
The resignation of one trustee, Virginia Kingsmill was accepted by the Chair in the Summer of 2025. The trustees who served during the period (1 Sep 24 - 31 Aug 25) were: Gill Welsman (Chair), Phil Stringer, Adrian Moore, David Lawes, Chris Hunt, Alexa Dugan, Virginia Kingsmill and Stuart Edwards.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1159447
## **Principal address**
Halfacre 119 Midhurst Road Fernhurst Haslemere Surrey GU27 3EY
## **Trustees**
P Stringer A Moore S Edwards G Welsman D J Lawes C Hunt A Dugan V Kingsmill (resigned 30.8.25)
## **Independent Examiner**
S Moorey FCCA Traviss & Co Ltd Chartered Certified Accountants Newtown House 38 Newtown Road Liphook Hampshire GU30 7DX
Page 2
## **GILBERT HANNAM EDUCATION FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 August 2025**
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ G Welsman - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GILBERT HANNAM EDUCATION FOUNDATION**
## **Independent examiner's report to the trustees of Gilbert Hannam Education Foundation**
I report to the charity trustees on my examination of the accounts of Gilbert Hannam Education Foundation (the Trust) for the year ended 31 August 2025.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
S Moorey FCCA
Traviss & Co Ltd Chartered Certified Accountants Newtown House 38 Newtown Road Liphook Hampshire GU30 7DX
Date: .............................................
Page 4
## **GILBERT HANNAM EDUCATION FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 August 2025**
|Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
4
Department support
Awards Evening
Other
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|2025
Unrestricted
funds
£
88,797
26,873
83,368
3,000
2,092
115,333
68,838
42,302
3,899,934
3,942,236|2024
Total
funds
£
93,323|
|---|---|---|
|||29,145
81,555
1,117
1,900|
|||113,717|
|||318,924|
|||298,530
3,601,404|
|||3,899,934|
The notes form part of these financial statements
Page 5
## **GILBERT HANNAM EDUCATION FOUNDATION**
## **BALANCE SHEET 31 August 2025**
|Notes
**FIXED ASSETS**
Investments
8
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|2025
Unrestricted
funds
£
3,757,876
192,350
(7,990)
184,360
3,942,236
3,942,236
3,942,236
3,942,236|2024
Total
funds
£
3,783,306
118,159
(1,531)
116,628
3,899,934
3,899,934
3,899,934
3,899,934|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. G Welsman - Trustee
The notes form part of these financial statements
Page 6
**GILBERT HANNAM EDUCATION FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Cash and cash equivalents**
Cash and cash equivalents in the balance sheet comprise cash at bank, cash in hand and short term deposits with an original maturity date of three months or less.
## **2. INVESTMENT INCOME**
|Income from listed investments
Deposit account interest|2025
£
69,779
19,018
88,797|2024
£
78,572
14,751|
|---|---|---|
|||93,323|
continued...
Page 7
**GILBERT HANNAM EDUCATION FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 August 2025**
## **3. RAISING FUNDS**
## **Investment management costs**
|Investment management
**4.**
**CHARITABLE ACTIVITIES COSTS**
Department support
Awards Evening
**5.**
**SUPPORT COSTS**
Other resources expended|2025
2024
£
£
26,873
29,145
Direct
Costs
£
83,368
3,000
86,368
Governance
costs
£
2,092|
|---|---|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024.
|**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Department support
Awards Evening
Other
**Total**|Unrestricted
funds
£
93,323
29,145
81,555
1,117
1,900
113,717|
|---|---|
continued...
Page 8
**GILBERT HANNAM EDUCATION FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 August 2025**
## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**8.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 September 2024
Additions
Disposals
Revaluations
At 31 August 2025
**NET BOOK VALUE**
At 31 August 2025
At 31 August 2024|Unrestricted
funds
£
318,924
298,530
3,601,404
3,899,934
Listed
investments
£
3,783,306
978,883
(1,075,512)
71,199
3,757,876
3,757,876
3,783,306|
|---|---|
The value of investments outside the UK were £2,059,660 (2024 - £1,656,994)
The movement in value of the fixed asset investments has been adjusted in the financial statements.
continued...
Page 9
**GILBERT HANNAM EDUCATION FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 August 2025**
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Trade creditors
Other creditors|2025
£
690
7,300
7,990|2024
£
-
1,531|
|||1,531|
## **10. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are a
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|s follows:
Incoming
resources
£
88,797
88,797|At 1.9.24
£
3,899,934
3,899,934
Resources
expended
£
(115,333)
(115,333)
At 1.9.23
£
3,601,404
3,601,404||Net
movement
in funds
£
42,302
42,302
Gains and
losses
£
68,838
68,838
Net
movement
in funds
£
298,530
298,530|At
31.8.25
£
3,942,236
3,942,236
Movement
in funds
£
42,302
42,302
At
31.8.24
£
3,899,934
3,899,934|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
continued...
Page 10
**GILBERT HANNAM EDUCATION FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 August 2025**
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
93,323
93,323|Resources
expended
£
(113,717)
(113,717)|Gains and
Movement
losses
in funds
£
£
318,924
298,530
318,924
298,530|
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.9.23
£
3,601,404
3,601,404|Net
movement
in funds
£
340,832
340,832|At
31.8.25
£
3,942,236|
|---|---|---|---|
||||3,942,236|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
182,120
182,120|Resources
expended
£
(229,050)
(229,050)|Gains and
Movement
losses
in funds
£
£
387,762
340,832
387,762
340,832|
|---|---|---|---|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 August 2025.
Page 11
**GILBERT HANNAM EDUCATION FOUNDATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 August 2025**
|**INCOME AND ENDOWMENTS**
**Investment income**
Income from listed investments
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Investment management costs**
Investment management
**Charitable activities**
Department Support
Awards evening
**Support costs**
**Governance costs**
Administration fees
Accountancy and legal fees
Total resources expended
**Net expenditure before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset investments
**Net income**|2025
£
69,779
19,018
88,797
88,797
26,873
83,368
3,000
86,368
469
1,623
2,092
115,333
(26,536)
68,838
42,302|2024
£
78,572
14,751
93,323
93,323
29,145
81,555
1,117
82,672
616
1,284
1,900
113,717
(20,394)
318,924
298,530|
|---|---|---|
This page does not form part of the statutory financial statements
Page 12