SIDCOT SCHOOL EDUCATION TRUST C.I.O. Report and Accounts 2024 Trustees Davld Sadler Sally Harvey Angela Cary-Brown lan Harbottle Judith Reeves Philip Davles (reslgned 14-2-2025) Bankers Uoyds Bank plc Investment Managers Evelyn Partners. Brlstol. Reglstered Office Sklcrt Sd)ool, wil￿¢0mbe, Somerset B525 ILT Prfndpal Offlce Mlddle Manor. Lascot Hlll, Wedm(Ye, Somerset 8528 4AF Sidcot School Education Trust ao. Truste￿ Report 2024 The Trustees present thelr first annual report together with the finandal statements of the Trust for the year ended 31* December 2024. The Trust was fomied after dlscussions between the trustees of the Sldcot Educatlon Trust and the Sidcot Bu￿ry Trust. Both Trusts made awards to pupils to asslst with the costs of their edu&*ion. althouth the Education Trust had a wlder remtt for the use of Fts funds. After tskln8 legal advice and with encouragement from the Sthool. applicatlon was made to Charity Commlsslon to merge the two Trusts and approval to thls eftd was given In January 2024. Stdcot Stht)ol Educatlon Trust ao wa5 formed on 7th Febrnary 2024 for purpose of mer8Sng the two exlsting Trusts and provide a coherent structure to SUPPOrt students and the School. The assets of the exlstln8 two trusts were transferred to thjs Trurt during the year. The financial statement consolldates the a￿tIeS of all three tn￿ for the year, in accordance wrth CharitySORP FRS 102. The Trust Is govemed by its constItU￿On and theTNstee Charftsble pU￿0$e The tharttsble purposes of the Tntst are to adwdft￿ the education of students at Sldeot School, Wlnscombe. North Sorner5et by sud) thaiitsble means as the Trustees In their discretion, think fiL Sldeot Bursary Tntst and Sldcot Educatlon T￿st Assets transferred from the Sidcot Bursary Trnst and the Sldcot Educatlon Trust dtsrln8the year were as follows:. Sldcot Bursary Trust Sidcot Educatlon Trust Totsl Investments Cash Balan 1x129,738 373,442 L403,180 1453 542 Sidcot School Educatlon Trust CIO. Trustee< Report (continued) Grants Grants made durfng the year were as follows:. Travel 5cholarshlps Student fee assistsnce Chemlstry Lab. Refurbishment 2,920 40.750 Subsequent to the year end, the Trustees were requested bythe Sthool to donate to the "Sidcot Hope and Imagination Fund" appeal, the purpose of whith was to 5UPPOrt the costs of educating puplls, where hardshlp had been Identified. At the meetlng on February 2025, It was resolved to contribute £31KI.LUlto the Sldcot"Hope and Imaglnation Fund.. The portfolio of Investrnents 15 managed on a dlscretlonary basls by Eve1￿ Partners, Brlstol. The Investment objertlve Is to Produ￿ the best flnandal return posslble wlthln an acceptsble level of risk No Trustee has received or Is entitled to any remuneratlon or expenses from the Tnst. Statement of Tntsteed RespOn￿￿e$ The Trustees are responsible for preparing theTTUSteeg ￿port and finandal ststements In accordance with the United Klngdom Accountin8 Stsndards and applicable law and reEulatlons. Davld Sadler Chaiman of the Trustee5 oa.ber102 Inde endent examiner's re School Education Trust CIO ort to the trustees of The Sidcot I report on the accounts of the Sidcot School Education Trust for the year ended 31 December 2024, which are set out the Statement of Financial Activilies. Respective responsibilities of trustees and examiner The charivs trustees are res￿nsIble for the p￿paration of the accounts. The charity's trustees consider that an audit is not required for this year under section 14412) of the Charities Act 2011 Ilhe 2011 Act) and that an indeperKlent examination is needed. It is my responsibility to: examine the accounts under section 145 of the 2011 Act" to follow the procedures laid down in the general Direclions given by the Charity Commission under section 145151{b) of the 2011 Act; and to slate whether particular matters have come to my attention. Basis of independent examinerfs report My examination was carried out in accordance the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presenled with those records. It also includes consideration of any unusual items or disclosures in Ihe accounts. and seeking explanations from you as Injslees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters sel out in the slatemenl below. Independent examinerfs statement In connection with my examination. no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 130 of the 2011 Act: and to prepare accounts which accord wth the a(tK)unting records and ￿mplY with the accounting quirements of the 2011 Act have not been met; or {2} to which, in my opinion. attention should be drawn in order to enable a proper underslanding of the accounts to be ￿8¢hed. Name: Steve Harris Relevanl professional qualification or body.. ACMA Address.. Brookwell Cottage. Callow Hill. Yarley. Wells BA5 1 NU Date= 2510912025 Consoudated Statement of FinanclalActlvltles forthe Year Ended 31st December2024 'DMdends Donaiions 8A45 657 205 35.513 69.751 StudertIe8￿￿Sraftee S30 7*1 LegaiandB*Charges a372 13x9591 147A12 (221A151 REVAWATIONOFINVEStMENts BALANCESB no iw3S2 L685.082 ii&A 31L709 Lifts215 .173 635 &e8&082 l_ Hartpxue . Treawr SIDCOT SCHOOL EDUCATION TRUST C.I.O. Notes to the accounts for the year ended 31 December 2024 Accounting Policies The financial statements of the Trust, which is a public benefit charity have been prepared in accordance with the Accounting and Reporting Standard Charities SORP IFRS1021. applicable in the UK. Golng Concern The Trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. Investments The Investments are included at the market value at the balance sheet date. un￿all$ed gains and losses represent the movement in market value during the year and are credited or charged to the Statement of financial activities, based on the market value at the year end. Income is recognised on its receipt. 2024 Cash and Bonds UK Equities North America Overseas Equities Global 222.976 242,285 408,802 223,149 153.950 169 762 Alternative Investments Totsl 1420 924 SIDCOT SCHOOL EDUCATION TRUST CIO Notes to the accounts for the year ended 3151 December 2024 (continued) Fund Structure 2024 2023 Student Assistance Fund Watkin Fund Isaac Fund Travel Fund Restricted Funds 949.545 94,214 56,091 889209 90.654 37,892 1.148.635 1,062,352 Unrestricted Funds TOTAL 392 462 622 730 Unrestricted funds are general fvnds that are available for use at the Trustees, discretion. in furtherance of the objertives of the Trust.