Chipping Campden School Charity
Charity No. 311699
Trustees, Report and Unaudited Accounts
for the Year Ended 31 March 2025

Ch7ppTng Campden School Charity
Contents
Trustees. Annual Report
Independent Examiner's Repoi't
Statement of Financial Activil?e5
Balance Sheet
Note5 to the Accounts
9- 15
Detailed Statement of Financial Activities
16

Chipping Campden School Charitv
Trustees Annual Report
The Trustees present their report with the unaudited financial statements of the Chipping Caimpden
School Charity (the ' Charity, I f or the year ended 31 March 202 5.
Reference and Admlnistrative Details
Charity No. 311699
Principal Office
Chipi)ing Caiiipdei) School
Cider Mill L£ine
Chippiiig Campden
Gloucestershire
GL55 6HU
Trustees
The following Trustees served duriiig the year and to tlie date of this report..
S. A. Burnett
The Late B.M. Chatfield (resigned 7 June 20241
R. Elrnes (appointed 29 April 20251
J. Flaherty lappointed 2 May 20241
L. Hay
D.N. Makin
G. Slade (resigned 25 July 2024)
L. Southam
K. Wood
Key Management Personnel
Clerk to the Trustees:
Mrs C. Doraii Ifrom 1 January 20251
Mrs A. Sansom Ito 31 December 20251
Accountants
Daniel Colwell & Co
The Old Bull Pens
Sezincote
Moreton-in-marsh
GL56 9AW
Bankers
Lloyds Bank PIC
19 High Street
Evesham
Worcestershire
WR11 4DQ
Investment Bankers
CCLA
One Angel Lane
London
EC4R 3AB
Page | 2

Chipping Campden School Charity
Trustees Annual Report
Structure Governance and Mana
Thc Chipping Campden School Charity was established under a Trust Deed dated 21st January 1991
and was register'ed witli the Chai'ity Comrnission oli diat date (Registered Number 3116991. A
modification order dated 7th April 1994 amended the number of nom7nated trustees and a fui'ther
modification order dated 25th May 2001, which came into force on 10th June 2001, was made to
the Trust Deed covering the traiisfer of Cliippiiig Campden school (the 'School'l from Grant
MainLiined sta￿S to Foundation status. The Trust Deed was then further iipdated land fiilly
incorporated the provision5 of the previous modificatioii order5 into a iiew fully comprehensive
deed) on 15th June 2016 which a150 reflected the change in status of die School to an Acadeiny in
September 2011.
ement
Details of the Trustees who served throughout the period are included in the Reference and
Administrative Details on page 2.
Two full meeting5 of the Trustee5 were held in the year.
Trustees Responsibilities
The Trustees are required to prepare financial statements for each financial year which give a true
and fair ifjew of the state of affairs of the Charity and of the incoinin8 resources and application of
resoLirces during the year and of its slate ol affairs at the end of the year. In preparing those
financial statements, the Trustees are required to'.-
1 . Select suitable accounting policie5 and then apply them consisten tiy,
2. Make judgements and esLimate5 reasonable and prudent,
3. Prepare the financial stateinents on the going concern basis unless it is appropriate to
presunie that the charity will not coiitiiiue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with accuracy at
any time the financial position of the charity. They are also resi)onsible for safegijarding the assets
of the charity and l)ence for taking reasonable steps for the pi-evention and detection of fraud and
breaches of law and regulatioiis.
Method of Recruitment and Appointment or Election of Trustees
The updated Trust Deed of 15th June 2016 allowed for 2 nominated Trustees and 7 co-opted Trustees.
Oiie of the Trustees 15 nominated by the School and the other by the Master aiid Fellows of Pembroke
College, Oxford.
Althougl) the Charity has a diverse group of committed Trustees, the Board of Trustees continues to
seek new members and will consider new Trustees who bring relevant experience and who would
make a valuable contribution I'o the strategy and maiiagement of the Charity. All new Trustee
appoiiitments are discussed and approved at appropriately coiivened meetiiig5 of all Trustees. The
Ti"ustees recognise that the management of investments requires appropi-iate experkn'se. Therefoie
the need to liave at least two trustees with sufficient financial and investment knowledge is taken
into account when considering new appointments. Trustees are carefully planning for future
retirements.
Page | 3

Chipping Campden School Charity
Trustees Annual Report
Policie5 and Procedures Adopted for the Induction and Training of Trustees
New Trustees are briefed on their obligation under Charity Law and appraised of the organisation and
structure of the Charity. Truslees al'e responsible f or the overall governance of the Charity, and they
make all decisions regardiiig the Charity.
Ob ectives and Activities
The objects of the charity as set out in its Trust Deed, are to:
Provide for the School SLich special benefits a5 may from time to time be agreed between the
Triistee5 and the Governors of the School.. and
Proinote the education (including social and physical training) of persons under the age of 25
yeai's who are attending or who have for not le55 than two years attended the school and who
are in need of financial assistance and i li particular but without prejudice to the generality
of the foregoing=
i) In awarding to such person, s scholarship5, exhibitions, bursaries, mainteiiance allowances
or grants tenable to any School, University, College of Education, or other institution of
further (including professional or technical) education approved for the purpose by Ihe
Trustee5.
li) In providing financial assistance, outf its, clothing, tools, instruments or books to assist such
person5 Lo pursue their edLication lincludinq the study of music and other arts), to
undertake travel in furtherance thereof, or I"0 prepare for or enter a profession, trade,
occupation or service on leaving school, University or other establishmeiit.
The Tru5tee5 are CLlStodians of endowments that have been left for the benefit of the School and its
students. The Trustees are obliged to protect those endowments in such a way as to be able to
discharge the intentions of the benefactors, in perpetuity. Annual prizes to students are Bn example
of how thi5 occurs. The Trustees also consider a range of propositions f rom students and teacliers
that with small amounts of f unding cali enable and enrich the students overall education.
The Trustees maintain strong links with the Master of Pembroke College, Oxford Lo further develop
the importaiit historical links between the College, the Charity and the School. This will result in
more students at the School being able to V151t Pembroke College.
Public Benefit
Tlie Trustees confirm that they have complied with the requirements in the Charitie5 Act 2011 to
have due regard to the Charity Commission s general guidance on public benefit in exercising their
powers and duties. They have refei.red to this guidai)ce wlieii reviewiiig the Charity'5 objectives and
aims and in planning its future activities and are satisfied that the Charity's activities comply with
thi5 guidance and are of public benefit.
Page | 4

Chipping Campden School Charity
Trustees Annual Report
Achievements and Performance
During the yeai- no new legacies were received by the Charity12024: none).
The Board of Trustee5 paid a total of £4,109 sub5equeiit to the year end in relation to the School's
junior & senior annual awards evening5.
In addition, the Charity paid [8, 523 of its pledged support totalling £25,560 to the School for the
purchase of 20 MacBook Air cotnputers.
Financial Review
The total income generated by the Charity during the year wa5 £48,057 which arose from the
investment funds held by the Charity. The total expenditure for the year was £4,200, which covered
the usual administrative costs, and the payments made to the School
Overall, the Charity generated a net surplus of £33,239 in the year, after reflection of realised and
unrealised gains and 1055es on investments and f ixed assets of1£10,618).
At 31 $1 March 2025, the investmeiits held by the Charity had a market value of £1,474,413.
Investment Policy
In accoi-daiice with the Charity Commission guide CC14, the Trustees reviewed their mix of
investments aiid risk levels. Trustees have taken advice f rom an IFA and will continue developing
this relationship.
The Trustees regularly review the Charity s investments with due reference to their investment
policy. This policy was reviewed and approved by the Trustees on 11, December 2023. Major
investment is made in two quoted fund5 managed spec?ally for charities by CCLA who have
confirmed the investmeiits were mid-range in their r'isk profile.
Reserves Policy
The Trustees policy 15 to review the reserve levels of the Chai-ity on an annual basis. Thi5 review
will encompass the nature of the incoine and expenditure streains, the iieed to matcli income with
comtnitments and the nature of the Charity s I'eserves. The Trustee5 also take into consideration
the f uture plans of the Cliarity, the uncertaiiity over some elements of future income streams and
other key risks identified duriiig the risk assessment process.
The resei-ve5 of the Charity are held towards providing the School and ?ts students such special
benefits as may fiom Lime to time be agreed between the Trustees and the school governors. Such
benef?ts beiiig for the pi-omotioii of educatioii, scholarship5 and bui"saries, aiid the provision of
financial assistance to studeiits where needed to fui'thei- tl)eir overall developiment.
At 31, March 2025, the total reserves of the charity were £1,561,865 of which £1,394,467 were
represented by unrestricted funds.
Plan5 for future periods
The Trustees plans for f uture periods al-e to ensure the Charity continues to fulfil it5, Charitable
objects as the custod?an5 of the endowments that have been left for the benefit of Chipping
Caiiipden School and its, Students.
Signed on
ialf of the Charity's trustees
D. N. Makin
Trustee
91h September 2025
Page15

Chipping Campden School Charity
Independent Examiners Report
Independent Examiner's Report to the trustees of Chipping Campden School Charity
I report on the accounts of Chipping Campdeii School Charity f or the year elided 31 March 2025 which
comprise the Statement of Financial Activities, tlie Balance Sheet and the I'elated notes.
onsibilities of trustees and examiner
Res
ective res
The char7ty's tru5tee5 are responsible f or the preparation of the accounts. The trustees consider that
ali audit is iiot required for this yeai- undei. the Charities Act 2011, 5.14412) (the 2011 Actl and Ihat
an independent examination is needed.
Having satisfied myself that the charity Is not subject to audit under charity law and is eligible foi.
iiidependeiit examination, it 15 my respoiisibility to:
examine the accounts under s.145 of the 2011 Act.
to follow procedui-e5 laid down in general Directions given by the Chai'ity Commission under
s.14515llbl of the 2011 Act; aiid
to state whether particular matter have come to my attention.
Basis of independent examiner's report
My exainination was carried out in accordance with the general directions given by the Charity
Commission. An exainination includes a review of the accounting records kept by the charity and a
comparison of the accounts presented with those records. It also inclLides consideration of aiiy
unusual items or disclosures in the accouiits aiid seeking explanations f rom you as trustees conceriiiiig
any such matters. The procedures do not provide all Lhe 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 set out in the stateinent below.
Independent examiner's statement
I have completed my examiiiation, no matter has come to my attention:
11 which gives me cause to believe thal in, any material respect:
to keep accounting records in accordance w7th s.130 of the 2011 Act. and
to prepare accounts which accord with the accounting records and comply with the
accounting requii-ements of the 2011 Act,
have not been: or
2) to which, in my opinion, attention sholild be drawn in order to enable a proper
understaiidiiig of the accounts to be reaclied.
Signed..
Date:
Daniel James Colwell FCCA CTA ATT
Daniel Colwell & Co
Chartered Certified Accountant
Page | 6

Chipping Campden School Charity
Statement of Financial Activities for the Year Ended 31 March 2025
Notes Unrestricted Endowment
funds 2025 funds 2025
Total funds Total funds
2025
2024
Income and Endowments from:
Investments
42,910
5,147
49,617
Total income and endowments
42,910
5,147
48,057
46,617
Expendlture on:
Charitable activities
2,642
1,558
2,642
40,968
Other
1,558
1,370
Total expenditure
4,200
4,200
42,338
Net Ilossesllgains on investments
revaluation
{11,780)
{2781
112,058)
81,937
Net {lossesl/gains on f?xed asset
revaluation
1,440
1,440
3,408
Net income/(expenditure)
28,370
4,869
33,239
85,080
Transfers between funds
5,147
Net expenditure before other
gains/{losses)
33,517
1278)
33,239
85,808
Other gains and losses:
Net movement In fund5
33,517
{2781
33,239
85,808
Recor)ciliation of f unds:
Total fund5 brought forward
1,360,950
167,676
1,528,626
1,442,818
Total funds carried forward
1,394,467
167,398
1,561,865
1 528 626
Page | 7

Chipping Campden School Charity
(Charity number." 3116991
Balance Sheet at 31 March 2025
2025
2024
Note
Fixed assets
Tangible assets
Inve5Lments
17,491
1,474,413
1,491,904
16,051
1,458,730
1,474,781
Current assets
Debtors
Cash at bank and in hand
10
4,210
94,040
98,250
8,550
80,168
88,718
Creditors". Amounts falling due withiii one year
28,289
134,873
Net current (liabilities)/assets
69,961
54,158
Total assets less current liabilities
1,561,865
1,528,626
Net assets excluding penslon asset or liability
1,561,865
1,528,626
Total net assets
1,561,865
1,528,626
The funds of the charity:
Restricted funds
Endowment funds
12
60,965
60,965
60,965
60,965
Unrestricted funds
General funds
686,002
640,705
686,002
640,705
Reserves
Revaluation reserve
12
814,898
826 956
814,898
826,956
Total funds
1,561,865
1,528,626
Approved by the trLlStees on 9th September 2025
And signed o
eir behalf by:
D.N. Mal(Trn
Trustee
PaEe 18

Chipping Campden School Charity
Notes to the Accounts
1 Accounting policies
Basis of preparation
The financial statements have beeli prepared in accordance Wlth Accounting and Reporting by
CharitTe5= Statement of Recommended Practice applicable to charities prepariiig their account5 in
accordance with the Financial Repoi-ting Standai-d applicable in the UK and Republic of Ireland (FR5
1021- Charitie5 SORP IFRS 102} (effective 1 January 2015) the Financial Repoiting Standard
applicable in the UK and Republic of I reland IFRS 1021 and the Charities Act 2011 .
Change in basis of accounting or to previou5 accounts
There has been no change to the accouiiting policies (valuation rules and method of accounting)
since last year and no changes have been made to accounts for previou5 years.
Fund accounting
Designated funds
These are unrestricted funds earmarked by the trustees for particular
purposes.
These are unrestricted funds which include a revaluation reserve
representing the restatement of investment assets at their market values.
These are available for use subject to restrictions imposed by the donor or
through terms of an appeal.
Revaluation funds
Restricted f unds
Income
Recognition of
income
Income is included in the Statement of Financial Activities1SoFAI when
the charity becomes entitled to, and virtually certain to receive, the
income and the amount of the income can be measured with sufficient
reliability.
Income with related Where income has related expenditure the income and related
expenditui"e
expeiiditure is reported gross in the SOFA.
Donal"ions and
Voluntary income received by way of graiits, donations and sifts 15
legacjes
included in the SOFA when receivable and only when the Chaiity has
unconditional entitlement to the income.
Donated service5 and These are only included in iiicome Iwith an equivalent amount iii
facilitie5
expenditure) where the benefit to the Charity ls reasonably quantifiable,
measurable and tnaterial.
The value of any volunteer help received is not included in the accounts.
Thi5 is included in the accounts when receivable.
This includes any gain or loss resulting from revaluing investments to
market value at the end of the year.
Volunteer help
Investment income
Gains/ Ilossesl on
revaluation of fixed
assets
Gainsl Ilossesl on
investment assets
This includes any gain or loss on the sale of investment5.
Page | 9

Chipping Campden School Charity
Notes to the Account5
Expenditure
Recognition of
expenditure
Expenditure is reco¥iiised nii ali accruals basis. Expeiiditui'e incliide5 any
VAT which caiinot be f ully i-ecovered and is reported ¢15 part ol tlie
expenditure to which it I"elates.
These comprise the costs incui'red by the Charity in the delivery of its
activities aiid services in tlie fui"thei-ance of its objects, including the
making of grant5 and povernance costs.
All grant expenditure is accounted for on an actual paid basis plus an
accrual for grants that l)ave been approved by the trustee5 at the end of
tlie year but not yet paid.
These include those costs associated with meeting the constitutional and
statutory requirements of the Charity, 7ncluding any audit/ independent
examination fees, costs linl(ed to the strategic management of the
Chai'ity, togetlier witli a share of other administration c05t5.
These are support costs not allocated to a pai'ticular activity.
Expenditure on
charitable activities
Grants payable
Governance costs
Other expenditure
Taxation
The charity is exempt f rom tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life-
Freehold property
Cups & trophie5
Not depreciated
Are revalued annually by Trustees
Trade and other debtors
Ti'ade and other debtors al-e recognised at the settlement amount due after any trade discount
offei-ed. Prepayments are valued at the amount prepaid iiet of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand dep051ts with banks and other
shorl-tei-m highly liquid investments with original maturities of Lhi-ee months or less and bank
overdrafts. In the statement of f inancial position, bank overdrafts are shown withiii boirowing5 or
CLlI'ront liabilities. I n the Statement of Cash Flow5, casli and cash equivalents are shown net of bank
overdrafts that are repayable on demand and form an iiitegral part of the company's cash
management.
Trade and other creditors
Short term creditors arc measured at the transac.tion price. Other creditors and provisions are
recogiiised where the chai ity has a preseiit obligation I'esultiiig f rom a past event tl)at will probably
i-esult in tlie traiisfer of fLinds to a third party and the atT)ounL due to settle the obligation can be
measui-e(fr or estimated reliably. Creditors and provisions are normally recognised at their settlement
amount after allowing for any trade discounts due.
Page | 10

Chipping Campden School Charity
Notes to the Accounts
2 Statement of Financial Activities - prior year
Unrestricted Endowment Total fLJnds
funds 2024 funds 2024
2024
Income and Endowments from:
InvesttnentS
44,945
49,617
Total income and endowments
44,945
4,672
49,617
Expenditure on:
Charitable activities
33,568
7,400
40,968
Other
1,370
1,370
Total
34,938
7,400
42,338
Net {losses)/gains on investments
Nel Ilosses}/gains on fixed asset
revaluation
77,012
4,925
81,937
3,408
13,408
Net expenditure
83,611
2,197
85,080
Transfers between funds
Net expenditure before other
gainsl(105se5)
88,283
12,475}
85,808
Other gains and losse5'.
Net movement in funds
88,283
(2,475)
85,808
Reconciliation of funds:
Total fuiid5 brouglit forward
Total funds carried forward
1,272,667
1,360,950
170,151
1,442,818
167,676 1,528,626
3 Income from Investments
Unrestricted Endowment Total 2025 Total 2024
Investment income
42,910
5,147
48,057
49,617
42,910
5,147
48,057
49,617
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Chipping Campden School Charity
Note5 to the Account5
4 Expenditure
Unrestricted
Endowment Total 2025
Total 2024
Expenditure on charitable activities
Exhibition and speech day prizes
Hilda Terry awards
Grants made (note J)
1,109
1,109
3,000
2,550
33,972
Governance cost
Independeiit examination
1,530
2,642
1,530
2,642
1,446
40,968
5 Analysis of grants
Unrestricted Endowment Total 2025
Total 2024
Activity or programme
Air Ambulance
Studeiit Support
Grants to School
500
500
33,972
6 Other expenditure
Unrestricted
Endowment Total 2025
Total 2024
General administrative c05t5
1,558
1,558
1,558
1,558
1,370
1,370
7 Staff cost5
No employee received emoluments in excess of £60,000.
The trustee5 received no renumeration and no expenses were reimbursed to trustees in the year
under review.
8 Tangible fixed assets
Land and
Buildings
Cups and
Trophies
Total
Cost or revaluation
At 1 April 2024
Revaluation taken to 50FA
16,050
16,051
1,440
17,490
1,440
17,491
At 31 March 2025
Net book values
AL 31 March 2024
At 31 March 2025
16,050
17,491
16,051
The Freehold property relates to a pai-cel of land upon wliich Chippiiig Cainpden School is Sltuated.
The Trustees consider this land to have a iioininal value on the basis it could only be realised in the
event of Chipping Campden School ceasing Lo exist or operate.
Page | 12

Chipping Campden School Charity
Notes to the Accounts
9 Investments
Other
investments
Listed
Total
Cost or revaluation
At 1 April 2024
Additions
Revaluation
Disposals
1,458,730
27,741
112,058)
1,458,730
27,741
112,0581
At 31 March 2025
1,474,413
1,474,413
Net book values
At 31 March 2025
1 474 413
1,474,413
At 31 March 2024
1,458,730
1,458,730
10 Debtors
2025
2024
Prepayments and accrued income
4,210
4,210
8,550
8,550
11 Creditors
amounts falling due within one year
2025
2024
Accruals and deferred income
34,873
34,873
28,289
Page | 13

Chipping Campden School Charity
Note5 to the Accounts
12 Movement in funds
Incoming
resources
(including
At 1 April
other
2024 gainsllosses)
Resources
expended
Gross
transfers
At 31 March
2025
Restricted funds..
Endowinent fund
60,965
15,1471
60,965
Total
60,965
5,147
5,147
60,965
Unrestricted funds:
General funds
640,705
44,350
14,2001
5,147
686,002
Revaluation
Reserves:
Endowment fund
Unrestricted f uiid
Total i-evalLfatioii
reserves
Total funds
106,711
720,245
12781
111,780
106,433
708,465
826,956
1 528,626
112,058
814,898
1 561 865
Purposes and restrictions in relation to the funds:
Revaluation r'eserves
Represent the amount by which investments
exceed tlieir histoi.ical cost.
Endowment funds:
Endowment fuiid
Funds held to provide for prizes and grants to
students and Chipping Campden School
13 Analysis of net
assets between funds
Unrestricted funds
Restrlcted funds
Total
Fixed assets
Investment5
Net current assets
17,491
1,308,647
17,491
1,474,413
69,961
1,561,865
165,766
1,632
167,398
1,394,467
Page | 14

Chipping Campden School Charity
Note5 to the Accounts
14 Related party disclosures
Name of related party
The late B.M. Chatfield
Description of relationship
between the parties
A member of Chipping Campden School and a Trustee Chipping
Campden School duriiig the year
Page115

Chipplng Campden School Charity
Detailed statement of Financial Activities
Unrestricted
funds 2025
Endowment Total funds
2025
2025
Total funds
2024
Income and Endowments from:
Investments
Iiiveslment iiicome
42,910
42.910
5,147
5,147
48,057
48,057
49,617
49.617
Total income and endowments
Expenditure on".
Charitable activities
Exh?bition and speech day
prizes
1,109
1,109
3,000
Hilda Terry awards
2,550
Grants made
33,972
39,522
1,112
Governance costs
Independeiit examiiiation
1,530
1,530
1,530
1,530
1,446
1,446
Total of expenditure on charitable
activitie5
2,642
2,642
40,968
General administrative costs,
incliiding depreciation and
amortisation
Clerk Honorarium
General insurancps
Dinner for reti red Trustees
Principal leaving
750
322
486
750
322
486
563
307
500
Total of expenditure of other
costs
Total expenditure
1,558
1,558
1,370
1,558
1,558
Net losses/gains on investments
111,7801
12781
112,058)
81,937
Net incomel(expenditurel
26,930
4,869
31,799
89,216
Ti'ansfers between f unds
5,147
15,1471
Net income/(expenditure) before
other gainslllosses)
32,077
12781
31,799
89,529
Net Ilossesllgains on f ixed asset
revaluation
1,440
1,440
13,4081
Net movement in funds
33,517
(278)
33,239
85,808
Page | 16