Charlty reglstratlon number 271592 IEngland and Walesl
THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr M French
Mr R H Green
Mr E Bridges
(Appointed 10 May 20251
Charlty numbgr
271592
Prlnclpal address
Abbots Acre
Hospital Lane
Sherborne
Dorset
DT9 3AP
Independent examiner
Anova
2 Piries Place
Horsham
West Sussex
RH12 1EH
Investment advisors
Sarasin & Partners LLP
Juxon House
100 St Paul's Churchyard
London
EC4M 8BU

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
CONTENTS
Page
Trustees, report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
6-12

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 JULY2025
The financial slalements have been prepared in accordance wf(h the accounting policies set out in note 1 to the
financial statements and comply wlh the charity's trust deed, the Charities Act 2011 and "Accounting and Reporting
by Charities". Statement of Recommended Practice applicable to charities preparing their accounts in accordance
wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended for
accounting periods commencing from 1 January 2016}
Objectives and activities
For charitable purposes relating lo Sherbome School and for the provision of bursaries al Sherborne School (for
public benefiti.
The Iruslees have paid dLJe regard lo guidance issued by the Charity Commission in deading what activities the
charity should undertake.
Oryanlsatlon
The original trustees as established under the Trust Deed have now all subsequently retired. They have been
replaced by the Current trustees who have served during the year as sel out on page 2. During the year, a new
Trustee has been appointed.
The trustees are responsible for deciding investment policy. They meet on a regular basis to decide and evaluate
their investment policy for generating the income which funds the bursaries provided at she￿orne School.
Expenditure is agreed by a Committee, and the Committee Members are appointed by the hnembers Df The Old
Shirburnian Society. The Committee also appoints the trustees of the charity. The main Committee meets three
times a year. A Finan￿ and Bursaries Sub-committee meets bNice a year and reports to the main Committee.
Publlc Beneflt
The trustees confirm they have complied wf(h the duly in section 17151 of the Charities Act 2011 to have regard to
the Charity Commission's general guidance on public benefit. 'Charities and Public Benefit,. The charitable
purposes of the trust are sel out in its conslilution.
Achievements and perfomiance
The resu￿$ for the period are shown on the Statement of Financial Activities on Page 5.
Investment income for the year has decreased to £45,619 12024.. £46,095). and total income has decreased to
£53,132 12024.. £72,914) which includes £nil 12024.. £3,596) of the loan write down from The Old Shirburnian
Society General Fund and £nil 12024.. £18,400) receipt from the General Fund for investing their surplus funds.
Legacies received were £nil 12024.. £51 and donations received were £13 12024.. £181. Expenditure on bursaries
were £58,612 12024.. £58,249) which contributed lo a surplus of £44,259 12024.. £153,015) on unrestricted funds
before transfer between funds, but after investment gains of £52,271 12024.. £140,5161.
Flnanclal r&vl&w
The policy of the trustees is to generate sufficient annual income from the investment portfolio in order to finance
the bursaries paid out whilst maintaining the capital reserves of the trust at similar levels ID previous year.
Unrestricted funds were maintained al this level throughout the year. As al 31 July 2025, £20,000 of the £1,747,160
reserves held related to the Endowment fund.
Investment pollcy and oblectlves
The investment objectives. as agreed be￿en the trustees and the investment managers, is to aim for caprtal
growth of 3Q/o above the Retail Price Index and a flat yield of around 30h gross per annum.
The Iruslees have assessed the major risks lo which the charity is exposed, and are satisfied that systems are in
place lo mitigate exposure lo the major risks.

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
TRUSTEES, REPORT (CONTINUED
FOR THE YEAR ENDED 31 JULY2025
Structure, governance and management
The Old Shirburnian Society Charitable Ttusl 1975 is a regisleied charity Iregislered number 2715921. The Trust
was constilutetl under a trust deed dated 18 March 1976.
The charity is not currently seeking lo appoint any new trustees, as the existing Board of three trustees continues to
serve.
The ¢harily does not consider it necessary lo maintain a formal trustee recruitment or training policy at this lime.
The Board will keep this position under review and implement appropriate procedures should the need for new
appointments arise in the future.
The Iruslees who served during the year and up to the dale of signature of the financial slalemenls were..
Mr M French
Mr R H Green
Mr E Bridges
(Appointed 10 May 20251
Risk management
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm
that systems have been established lo enable regular reports lo be produced so that the ne￿SSary steps can be
taken to lessen these risks.
Relat8d parties
The Old Shirburnian Society General Fund has as ils aims'.-
al To enable its members to maintsin contact with each other and wth the school.
bl To support the school, and
cl To provide funds for the charitable trust to assist the families of Old Shirburnians by way of bursaries.
The Old Shirburnian Society General Fund is effectively the "trading arm" of the society and is responsible for
producing the Annual Record and occasional newsletters. The General Fund produces separate accounts.
The Trustees, report was approved by the Board of Trustees.
ML Trghch
Mr M Fronch
Date..
Apr 17, 2026

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
I report to the trustees on my examination of the financial statements of The Old Shirburnian Society Charitsble
Trust 1975 Ilhe charityl for the year ended 31 July 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements In accordance
wth the requirements of the Charities Act 2011.
I report in respect of my examination of the charity's financial statements carried out under section 145 of the
2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 14515llbl of the 2011 Act.
Independent examlnerfs statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the Charities Act
2011.
the financial slalemenls do not accord with those records., or
the financial statements do not comply with the applicable requirements concerning the form and content
of financial statements sel out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the financial statements 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 auoss no other matters in connertion ￿rith the examination to which
attention should be drawn in this report in order lo enable a proper understsnding of the financial slalemenls to
be reached.
4*
Katie Squire ACA, Anova
2 Pines Place
Horsham
West Sussex
RH12 1EH

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY2025
Unrestricted Endowment
funds
funds
2025
2025
Total Unrestricted End0V￿llent
funds
funds
2024
2024
Total
2025
2024
Notes
Income and endowm9nts from:
Donations and legacies
Investments
Other income
23
46,095
26,796
23
46,095
26,796
45,619
7,500
45,619
7,500
Total income
53,132
53,132
72,914
72,914
Expenditure on:
Charitable activities
Dired costs
Support Costs
57,654
2,290
1,200
58,854
2,290
57,281
1,934
1,200
58,481
1,934
Total charitable
expenditure
59,944
1,200
61,144
59,215
1,200
60,415
Total expenditure
59,944
1,200
61,144
59,215
1,200
60,415
Nel gainslllossesl on
investments
10
52,271
52,271
140,516
140,516
Net incomellexpenditurel
45,459
11,2001
44,259
154,215
11,2001
153,015
Transfers betrMeen
funds
11,2001
1,200
11,2001
1,200
Net movement In
funds
44,259
44,259
153,015
153,015
Reconciliation of funds-
Fund balances al 1 August
2024
1,682,901
20,000 1,702,901
1,529,886
20,000 1,549,886
Fund balances at 31 July
2025
1,727,160
20,000 1,747,160
1,682,901
20,000 1,702,901
The slalemenl of financial activities Includes all gains and losses recognised in the year. All income and expenditure
derive from continuing aclivilies.

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
BALANCE SHEET
ASAT31 JULY2025
2025
2024
Notes
Flxed assets
Investments
12
1,728,981
1,676,710
Current assets
Debtors
Cash al bank and in hand
13
7,664
54,021
164
46,433
81,885
46,597
Creditors: amounts falling due within
one year
14
143,5061
120,4061
Ngt Currgnt ass9ts
18,179
26.191
Total assets less current Ilabllltles
1,747,160
1,702,901
The funds of the charlty
Endowment funds
Unreslricled funds
15
16
20,000
1,727,160
20,000
1,682,901
1,747,160
1,702,901
The financial slalemenls were approved by the trustees on .
Apr 17, 2026
Mr M French

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY2025
Accounting policies
Charity information
The Old Shirbumian Society Charitable Trust is a registered charity (registered number 2715921. The Trust
was consliluled under a trust deed dated 18 March 1976.
1.1 Accounting convention
The financial slalemenls have been prepared in accordance with the charity's goveming document,
Declaration of Trust Dated 18 March 1975, the Charities Act 2011, FRS 102 "The Finanaal Reporting
standard applicable in the UK and Republic of Ireland" and the Charities SORP'Accounling and Reporting by
Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" The charity is
a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of
cash flows.
The financial statements have departed from the Charities IAccounts and Reports) Regulations 2008 only to
the extent required to provide a true and fair view. This departure has involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Statement of
Recommended Practice which is referred to in the Regulations bul which has Sin￿ been withdrawn.
The financial ststements are prepared in sterfing, which is the fundional currency of the charity. Monetary
amounts in these financial statements are roLJnded to the nearest £.
The financial slalements have been prepared under the historical cost convention. The principal accounting
policies adopted are sel out below.
1.2 Going concern
At the lime of approving the financial slalemenls, the trustees have a reasonable expectation that the charity
has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees
continue lo adopt the going concern basis of accounting in preparing the financial stslemenls.
1.3 Charltable funds
Unrestricted funds are available for use al the discretion of the trustees in fjjrtherance of their charitable
objectives.
Restricted funds are subject lo specific conditions by donors or granlois as lo how they may be used. The
purposes and uses of the reslricled funds are sel out in the notes to the financial statements.
Endowment funds are subject lo specific Conditions by donors that the capitsl musl be maintained by the
charity.
1.4 Incomlng reSou￿e$
Income is recognised when the charity is legally entitled to it after any perf0mlan￿ conditions have been met,
the amounts can be measured reliably, and il is probable that income wll be received.
Cash donations are recognised on receipt. other donations are recognised once the charity has been notified
of the donation, unless perfOrrnan￿ conditions require deferral of the amount. Income lax recoverable in
relation lo donations received under GiftAid or deeds of covenant is recognised at the lime of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending dislribulion,
the amount is known, and receipt is expected. If the amount is not known, the legacy is Irealed as a
conlingenl asset.

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
Accounting policies
(Continued)
Investment income is accounted for in the period in which the charity is entitled to receipt.
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a
third party. 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 classified by activity, The costs of each activity are made up of the total of direct costs and
shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which Contribute to more than one activity and
support Costs which are not attributable lo a single activity are apportioned behNeen those activities on a basis
consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and
depreciation charged are allocated on the porb'on of the asset's use.
Liabilities are Tecognised as expendrture as soon as there is a legal or constructive obligation committing the
charity lo that expenditure, Il is probable that a transfer of economic benefits will be required in settlement and
the amount of obligation can be measured reliably. Expenditure Is accounted for on an accrual ba515 and has
been classified under headings that aggregate all cost related lo the Category. Where costs cannot be directly
attributed to a particular headings, they are allocated lo activities on a cost basis consislenl wth the use of
resources.
Bursaries are charged in the period in which they are paid on behalf of the recipient.
Management and adminislralion comprises costs for the running of the charity as an organisation.
1.6 Flxed asset Investments
Fixed asset investments are initially measured at transaction pri￿ exduding transaction costs, and are
subsequently measured at fair value al each reporting date. Changes in fair value are recognised in net
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid
investments wth original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
Critical accounting estimates and judgements
In the application of the charity's accounting poliaes. the trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The eslimales and associated assumptlons are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
Income from donations and legacies
Unrestricted
funds
2025
Unrostricted
funds
2024
Donats"ons and gifts
Legacies
13
18
13
23
Investments
2025
2024
Dividends- UK equities
45,619
46,095
other income
202S
2024
Contribution from General Fund
Loan write down
Surplus from General Fund for investing
7,500
6,800
3,596
16,400
7,500
26,796

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
Charitable activities
Diract costs
Support
costs
Total
202S
Total
2024
Bursaries (Endowmentl
Bursaries
Investment management costs
Bank charges
1,200
57,612
1,200
57,612
1,200
57,049
232
42
42
58,854
58,854
58,481
Accountancy and legal fees
2,290
2,290
1,934
58,854
2,290
61,144
60,415
Fees payable to independent examiner for accountancy services and independent examination amounted
10 £2,29012024'. 1,9341.
Net movement in fund5
2025
2024
The net movement in funds is stated after chargingllcreditingl..
Fees payable for the independent examination of the charity's financial
statements
2,290
1,934
Trustees
None of the Iruslees lor any persons connected with them) received any rerlluneralion or benefrts from the
charity during the year.
Employees
There were no employees during the year.
10 Gains and losses on investments
Unrestricted Unrestricted
fund5
funds
2026
2024
Gainslllossesl arising on..
Revaluation of investments
52,271
140,516
11 Taxatlon
The charity is exempt from taxation on ils activities because all ils income is applied for charitable purposes.

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
12 Fixed asset investments
Listed
investments
Cost or valuation
At 1 August 2024
Valuation changes
1,676,710
52,271
At 31 July 2025
1,728,981
Carrylng amount
At 31 July 2025
1,728,981
At 31 July 2024
1,676,710
Investments al market value comprised.,
UK equities and other investments £136,45812024.' £261,147)
UK fixed and variable interest securities £206,18212024.' £183,652)
Overseas equities and other investments £1,386,341 12024.. £1,231,911)
13 Debtors
2025
2024
Amounts falllng due wlthln one year..
Other debtors
7,664
164
14 Creditors- amounts falling due within one year
2025
2024
Other creditors
Accruals and deferred income
41.514
1,992
18,472
1,934
43,506
20,406
10-

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
15 Endowment funds
Endowment funds represent assets which must be held permanently by the charity, principally investments.
The endowment fund comprises a bequest of £20,000 which was re￿iVed during 1999 from the estate of
Miss Pound. The terms of the will state that the income from this legacy, together with such additional income
as may be added by the society, should be used lo fund the bursary of her nephew, killed in Italy in 1944, to
be called the James Bradfield Bursary. The £20,000 originally deposited into the CAF cash account has been
transferred lo the Trustees for incorporation into the main investment fund. Income arising on the endowment
is used to fund a bursary of £1,200 per annum in accordan￿ with the objects of the charity, and any shortfall
between the bursary and the income arising on the endowment fund is made good by a transfer of
unreslricled funds.
At 1 August
2024
Resources
expended
Transfers
At 31 July
2025
Permangnt endowments
20,000
11,2001
1,200
20,000
Previous year:
At 1 August
2023
Resources
expended
Transfers
At 31 July
2024
Permanent endowments
20,000
11,2001
1,200
20,000
16 Unrestricted funds
The income funds of the charity include the following designated fund (David Ellis Fund) which has been sel
aside out of unrestricted funds by the trustees for a specific purpose..
At 1 August
2024
Incoming
re$our¢es
R&source$
expended
Transfgrs
Gains and
lo$ses
Al 31 July
2025
David Ellis Fund
General funds
354,563
1,328,338
{10,0001
149,9441
11,828
40,443
356.391
1,370,769
53,132
11,2001
1,682.901
53,132
159,9441
11,2001
52.271
1,727,160
Prevlous year:
At 1 August
2023
Incomlng
resoU￿e$
Resources
expended
Transfers
Galns and
losses
At 31 July
2024
David Ellis Fund
General funds
347,262
1.182.624
124,8471
23,647
32,148
108.368
354,563
1,328,338
72,914
159,2151
1,529,886
72,914
{59,2151
11,2001
140,516
1,682,901

THE OLD SHIRBURNIAN SOCIETY CHARITABLE TRUST 1975
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
16 Unrestricted funds
(Continued)
During the 2018 and 2019 financial years, the Charty received legacy receipts from the estate of the late
David Ellis. As al 31 July 2025 £34,847 12024.. £24,8471 has been awarded from this fund. The remaining
movement in the year represents the increase In value of the investments specific to this fund.
17 Related party transactions
There have been no related paty transactions during the year that require disclosure.
12-