## **THE RADBROOK FOUNDATION**
## **ACCOUNTS & TRUSTEES’ REPORT FOR THE**
**YEAR ENDED 30TH JUNE 2025**
**Charity No. 528383**
## **THE RADBROOK FOUNDATION**
## **ACCOUNTS AND TRUSTEES’ REPORT FOR THE YEAR ENDED 30TH JUNE 2025**
## **CONTENTS**
## **Page**
|**3.**|**Trustees and Advisors**|**1**|
|---|---|---|
|**4.**|**Trustees’ Report**|**2-**|
- **2-4**
**5. Independent Examiners Report to the Trustees 5 6. Statement of Financial Activities 6 7. Balance Sheet 7 8. Notes to the Accounts 8-13**
## **THE RADBROOK FOUNDATION**
## **ACCOUNTS AND TRUSTEES’ REPORT FOR THE YEAR ENDED 30TH JUNE 2025**
## **TRUSTEES’ AND ADVISORS**
## **TRUSTEES**
Mr J. Abram (Vice Chairman) Mrs C. N. Brentnall Mr A. D. Cross Mr I.Gilmour (Chairman) Miss J Leake
Mrs M. Pemberton Mr R Sartain Mr J. Staniforth Mr M Willmot Mr A. Young
## **CLERK TO THE TRUSTEES**
Mr C.W. Yaxley
## **BANKERS**
Lloyds TSB Bank plc Pride Hill Shrewsbury SY1 1DG
## **PRINCIPAL OFFICE**
Church View Castle Chambers St Mary’s Place Shrewsbury SY1 1DX
## **INDEPENDENT EXAMINER**
Mr J. Rimmer James, Holyoak & Parker Ltd 1 Knights Court Archers Way Battlefield Enterprise Park Shrewsbury, Shropshire, SY1 3GA
## **INVESTMENT MANAGERS**
Cazenove Capital Management 12 Moorgate London EC2R 6DA
## **LEGAL ADVISORS**
Mr. M. Bowering Hatchers (Solicitors) Welsh Bridge House Shrewsbury, SY3 8LG
-1-
## **THE RADBROOK FOUNDATION**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 30[TH] JUNE 2025**
## **TRUSTEES REPORT**
The Trustees present their report and accounts for the year ended 30th June 2025. The accounts have been prepared in accordance with the accounting policies set out on page 8 and comply with the Charity’s Governing Document, the Charities Act 2011 and 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 published in October 2019.
The report takes account of the requirement for Trustees to report annually on public benefit and the Trustees have had regard to the Charity Commission’s guidance on public benefit.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Foundation is a registered charity, number 528383, and is governed by a scheme of the Charity Commission dated 18[th] March 1987 as amended by a further scheme dated 17[th] December 1996 (based on previous schemes dated 21.11.1895, 16.08.1901, 06.01.1922 and 24.10.1958).
There is one AGM and four Ordinary Meetings of Trustees every year, with three meetings for the purpose of giving grants, with occasional special meetings as and when required.
The Charity is managed by the Clerk to the Trustees who receives an honorarium. The Trustees are not paid.
There were no major changes to the organisation of the Charity during the period.
There were no changes in the trustees during the year.
## **OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT**
The primary purpose of the Charity is the promotion of the education of students of Shrewsbury Colleges Group.
Subject to payment of the expenses of the Charity (administration and management) the Trustees apply the income of the Charity in one or each of the following ways:
1) In or towards providing for Shrewsbury Colleges’ Group such benefits of any kind not normally provided out of central government funding as may from time to time be agreed between the Trustees and the Governors of Shrewsbury Colleges’ Group.
2) In promoting the education of the Shrewsbury Colleges’ Students who are in need of financial assistance, with a preference amongst such persons for those who have for the three years immediately preceding their admission to the Shrewsbury College’s Group being resident in the County of Shropshire or its adjacent counties.
3) If the Trustees in their absolute discretion see fit, in promoting the education of former Shrewsbury Colleges’ Students who are in need of financial assistance after their leaving the Shrewsbury Colleges’ Group but whilst they are in full time or part-time education thereafter with particular emphasis (but without limiting the generality of their powers) on higher education.
-2-
## **THE RADBROOK FOUNDATION**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 30TH JUNE 2025 (CONTINUED)**
## **RISK MANAGEMENT**
The Trustees actively review any major risks which the Charity faces on a regular basis. The principal risk faced by the Charity is the performance of investments. To mitigate this risk, they take expert advice and have their Restricted Fund investment portfolio managed by professional investment managers.
The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate any significant risks. The Risk Management Committee, chaired by the Vice-chairman, regularly reviews that and other significant risks faced by the Foundation. The Trustees are satisfied that their appropriate risk management systems are effective.
## **FINANCIAL REVIEW AND INVESTMENT RETURNS**
The Trustees report a increase in the overall funds’ value of £167,549.
The Trustees were satisfied with the Charity’s investment returns during the year. The Trustees monitor these returns regularly.
## **GRANTS AND REVIEW OF OUR ACHIEVEMENTS**
The trustees are pleased with the achievements and performance of the Charity during the year.
The Foundation continued to promote the education of Relevant Students attending courses of the Shrewsbury Colleges Group who are in need of financial assistance.
Grants have been awarded to students, to the value of £120,000. Further details of these grants can be found in note 3 to the accounts.
## **INVESTMENT POWERS AND POLICY**
The investment of the Foundation’s Endowment Fund has been delegated on a Discretionary Management basis to Cazenove Capital Management subject to the Foundation’s Investment Policy, which is designed to provide an opportunity for capital growth together with the provision of a regular income, meeting both short and medium term needs.
The Trustees adopted the Total Return Approach during the year to 30 June 2021 in accordance with the provisions of S.104A Charities Act 2011 and the Charities (Total Return) Regulations 2013 (the Regulations). The Trust for Investment (pursuant to Regulation 3(2)(i) of the Regulations) was set at £2,500,000.
The Unrestricted Fund must be invested and accounted for separately from that of the Endowment Fund. The approach adopted by the Trustees is one of holding units in a pooled fund, the Multi-Asset Fund, which has a broadly similar investment policy, again managed by Cazenove Capital Management.
-3-
## **THE RADBROOK FOUNDATION**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 30TH JUNE 2025 (CONTINUED)**
## **RESERVES POLICY**
The reserves policy of the Foundation is to maintain capital reserves to produce a yearly income sufficient to cover student bursaries for the following year, without the need to draw on the capital fund brought forward.
## **TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE ACCOUNTS**
Law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial period which give a true and fair view of the Charity’s financial activities during the period and of its financial position at the end of the period. In preparing those accounts, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the accounts; and
- prepare the accounts on a going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and enable them to ascertain to ensure that the accounts comply with the Charities Act 2011 and the provisions of the governing document. 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. The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website.
Approved by the Trustees on 13[th] November 2025 and signed on their behalf
## **Mr I. Gilmour (Chairman and Trustee) Mr C.W. Yaxley (Clerk to the Trustees)**
## **Mr J. Abram (Vice Chairman and Trustee)**
-4-
## **THE RADBROOK FOUNDATION**
## **INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF THE RADBROOK FOUNDATION**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2025, which are set out on pages 6 to 13.
## **Responsibilities and basis of report**
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the 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 my examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity 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.
**Jonathan Rimmer, F.C.A, James, Holyoak & Parker Limited 1 Knights Court, Archers Way, Battlefield Enterprise Park, Shrewsbury, SY1 3GA**
**13[th] November 2025**
-5-
## **THE RADBROOK FOUNDTION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2025**
|**Income and Endowments**
**Generated Funds**
Investment Income
Transfer to income|**Notes**
2|**Unrestricted**
**Funds**
**£**
11,600
160,359|**Endowment**
**Funds**
**£**
**Total**
**2025**
**£**
**Total**
**2024**
**£**
160,359
171,959
133,752
(160,359)
-
-|
|---|---|---|---|
|**Total**||**171,959**|**-**
**171,959**
**133,752**|
|**Expenditure**
**Charitable Activities:**
**Grants and donations payable**
Bursaries & Prizes for Students|3|120,000|-
120,000
124,415|
|**Governance Costs**
Investment Management Fees
Insurance
Clerk’s Honorarium
Trustees Expenses
Meeting Expenses
Independent Examiners’Fee|5
4
6|691
629
4,000
-
-
1,620|9,484
10,175
12,796
-
629
604
-
4,000
3,600
-
-
366
-
-
230
-
1,620
1,620|
|||6,940|9,484
16,424
19,216|
|**Total**||**126,940**|**9,484**
**136,424**
**143,631**|
|**Net Income/(Expenditure) before Investment**
**gains/(losses)**
**Net gains/(losses) on Investments**
Gain / Loss on Permanent Endowment Portfolio
Gain / Loss on Multi Asset Fund|10
7|**45,019**
-
8,377|**(9,484)**
**35,535**
**(9,879)**
-
-
342,672
123,637
132,014
17,946|
|**Total**||**53,396**|**114,153**
**167,549**
**350,739**|
|**Net Income/ (Expenditure)**
**Transfers between Funds**||**53,396**
**332**|**114,153**
**167,549**
**350,739**
**(332)**
**-**
**-**|
|**Net Income/(Expenditure) after transfers**
**Other Recognised gains and Losses**||**53,728**
-|**113,821**
**167,549**
**350,739**
-
-
-|
|**Net Movement in Funds**
**Total Funds brought forward**||**53,728**
346,225|**113,821**
**167,549**
**350,739**
3,907,979
4,254,204
3,903,465|
|**Total Funds carried forward**|11|**399,953**|**4,021,800**
**4,421,753**
**4,254,204**|
All amounts relate to continuing activities. All recognised surpluses and deficits are included in the statement of financial activities The notes on pages 8-13 form an integral part of these accounts
-6-
## **THE RADBROOK FOUNDATION**
## **BALANCE SHEET AS AT 30[TH] JUNE 2025**
|**FIXED ASSETS**
Investments|**Notes**
7|**Unrestricted**
**Funds**
**£**
298,519|**Endowment**
**Funds**
**£**
**Total**
**2025**
**£**
**Total**
**2024**
**£**
4,024,107
4,322,626
4,157,344|
|---|---|---|---|
|**TOTAL FIXED ASSETS**||**298,519**|**4,024,107**
**4,322,626**
**4,157,344**|
|**CURRENT ASSETS**
Cash in COIF Deposit Fund
Cash at Bank and in Hand
Debtors|8
8|10
105,215
-|-
10
10
-
105,215
99,990
-
-
2,938|
|**CREDITORS:**amounts falling due within one
year|9|105,225
(3,791)|-
105,225
100,938
(2,307)
(6,098)
(4,078)|
|**NET CURRENT ASSETS**||**101,434**|**(2,307)**
**99,127**
**96,860**|
|||||
|**TOTAL NET ASSETS**||**399,953**|**4,021,800**
**4,421,753**
**4,254,204**|
|**FUNDS OF THE CHARITY**
**CAPITAL FUND**
**Permanent Endowment Fund**
**INCOME FUND**
**Unrestricted Fund**|11
11|-
399,953|4,021,800
4,021,800
3,907,979
-
399,953
344,225|
|**TOTAL FUNDS**||**399,953**|**4,021,800**
**4,421,753**
**4,254,204**|
Approved by the Trustees on 13[th] November 2025 and signed on their behalf
**Mr I. Gilmour Mr J. Abram (Chairman and Trustee) (Vice-Chairman and Trustee)**
The notes on pages 8-13 form an integral part of these accounts.
-7-
**THE RADBROOK FOUNDATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2025**
## **1. Accounting Policies**
## **Basis of accounting**
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The trust constitutes a public benefit entity as defined by FRS 102
The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## **Recognition of Income**
These are included in the Statement of Financial Activities (SoFA) when:
- The charity becomes entitled to the resources;
- It is more likely than not that the trustees will receive the resources; and
- The monetary value can be measured with sufficient reliability.
## **Income from Interest, Royalties and Dividends**
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
## **Investment Gains and Losses**
This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## **Expenditure & Liabilities**
Generally liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure.
## **Investments**
Fixed asset investments in quoted shares, traded bonds similar investments are valued initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year old are treated as current asset investments.
## **Total return investment**
The Trustees have taken advantage of Section 4 of the Trust (Capital and Income) Act 2013, which amended the Charities Act 2011 by passing a resolution to adopt a total returns approach to investment. The power of total return permits the trustees to invest permanently endowed funds to maximise total return and to apply an appropriate portion of the unapplied total return to income each year. Until the power is exercised to transfer a portion of the unapplied total return to income, the unapplied total return remains invested as part of the permanent endowment. The power allows the trustees to decide in each year how much of the unapplied total return is transferred to income funds and so available for expenditure. Having considered their obligations under the duty of even handedness, the trustees made a transfer of £109,973 (2022:£92,076) unapplied total return income to unrestricted income funds. In making the decision the trustees have taken into account the investment climate, yields and the income needs of the charity.
-8-
## **THE RADBROOK FOUNDATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR 30TH JUNE 2025 (CONTINUED)**
## **2. Analysis of Investment Income**
|||**Unrestricted**|**Endowment**|**Total Funds**|**Total Funds**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**2025**|**2024**|
|||**£**|**£**|**£**|**£**|
|**Investment Assets**||||||
|CCM|Multi-Asset Fund|11,600|-|11,600|10,141|
|COIF|Charities DF|-|-|-|-|
|Bankcompensation||-|-|-|-|
|||**11,600**|**-**|**11,600**|**10,141**|
|**Property Assets**||||||
|CCM|Investment Portfolio|-|160,359|160,359|123,611|
|||**-**|**160,359**|**160,359**|**133,752**|
|**Transfer of Income**||**160,359**|**(160,359)**|-|-|
|||||||
|**Total**||**171,959**|**-**|**171,959**|**133,752**|
## **3. Grants & Donations payable**
The total grants made to individuals, including block grants, in the year were as follows:-
|**Purpose**|**Total number of**|**Total Amount**|**Total Amount**|
|---|---|---|---|
||**Grants**|**Paid**|**Paid**|
||**2025**|**2025**|**2024**|
||**£**|**£**|**£**|
|Individual Claims|21|3,943|-|
|Course Fees|-|-|1,959|
|Travel Awards|Block grant|54,000|43,814|
|Minibus|Block grant|-|30,000|
|Equipment Awards|Block grant|7,000|1,755|
|Awards|Block grant|1,200|602|
|Trips and Enrichment|Block grant|42,157|34,585|
|Safeguarding arrangements|Block grant|11,700|11,700|
|||**120,000**|**124,415**|
See the Trustees’ Report for further information on grants given.
## **4. Trustees Remuneration and Expenses**
No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any trustee or to any person or persons known to be connected with any of them.
Apart from costs associated with legal advice and trustee meetings no reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the year.
-9-
## **THE RADBROOK FOUNDATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2025 (CONTINUED)**
## **5. Ex Gratia Payments**
The Trustees authorised ex gratia payments to the Clerk and Treasurer to the Trustees, Mr C. W. Yaxley in the year amounting to £4,000 (2024: £3,600 for the year)
## **6. Fees for examining the Accounts**
||**2025**|**2024**|
|---|---|---|
||£|£|
|Independent Examiners’ Fee|1,620|1,620|
## **7. Investment Assets**
The investments held at year end and their movement during the year are as follows:-
|**Market Value at beginning of year**
**Add**
Funds Invested at Cost
**Less**
Disposals at carrying value
Fees taken out of Capital
**Add**
Net gain/(loss) on revaluation|**Unrestricted**
**£**
**247,461**
42,681
-
-
8,377|**Endowment**
**£**
**2025**
**Total**
**£**
**2024**
**Total**
**£**
**3,909,883**
**4,157,344**
**3,812,250**
31,510
74,191
3,900,828
(31,435)
(31,435) (3,775,124)
(9,488)
(9,488)
(15,638)
123,637
132,014
235,028|
|---|---|---|
|**Market Value at end of year**|**298,519**|**4,024,107**
**4,322,626**
**4,157,344**|
|**Investments at Fair Value**
Equities
Pooled Investment vehicles
Fixed Interest securities
Cash held in Investment Portfolio|**Unrestricted**
**£**
219,123
38,022
25,934
15,440|**Endowment**
**£**
**2025**
**Total**
**£**
**2024**
**Total**
**£**
3,000,908
3,220,031
2,910,904
520,719
558,741
669,310
355,167
381,101
477,609
147,313
162,753
99,521|
|**Total**|**298,519**|**4,024,107**
**4,322,626**
**4,157,344**|
All Investments are carried at fair value. Investments are all traded in quoted public markets. Holdings in common investment funds, unit trusts and open ended investment companies are at bid price. The basis of fair value for quoted investments is equivalent to market value, using bid price.
The baseline Endowment Investment Fund, following the sale of the Radbrook site in 2016, amounted to £3,450,862.
-10-
## **THE RADBROOK FOUNDATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2025 (CONTINUED)**
## **Investment Assets – Continued**
The Restricted Fund forms the great majority of the Foundation’s assets and those are managed pursuant to the Foundation’s investment policies on a discretionary management basis by Cazenove Capital Management (referred to as “CCM” in the Notes). The Foundation receives investment reports in respect of each calendar quarter in the year.
## **8. Cash at Bank and in Hand**
|Lloyds Current Account
CCLA|**Unrestricted**
**£**
105,215
10|**Endowment**
**2025**
**2024**
**£**
**£**
**£**
-
105,215
97,990
-
10
10|
|---|---|---|
||**105,225**|**-**
**105,225**
**98,000**|
## **9. Creditors: amounts falling due within one year**
|Independent Examiners’ Fee
Clerk Fees
CCM Fees: Multi Asset Fund
CCM Fees: Permanent Endowment|**Unrestricted**
**£**
1,620
2,000
171
-|**Endowment**
**2025**
**2024**
**£**
**£**
**£**
-
1,620
1,620
-
2,000
1,600
-
171
147
2,307
2,307
2,311|
|---|---|---|
|**Total**|**3,791**|**2,307**
**6,098**
**5,678**|
-11-
## **THE RADBROOK FOUNDATION**
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2025 (CONTINUED)**
|**10.**|**The investment fund and application of total return to permanent endowment funds**
**Trust for**
**Investment**
**Unapplied Total**
**Return**
**Total**
**Initial division of endowment**
Gift component of permanent endowment
2,500,000
-
2,500,000
Unapplied total return
-
1,409,883
-|
|---|---|
||**Total**
**2,500,000**
**1,409,883**
**3,909,883**
**Movement in period**
**Investment return: dividends and interest**
-
160,359
160,359
**Investment return: recognised and**
**Unrecognised gains/(losses)**
-
123,637
123,637
**Less: investment management costs paid**
-
(9,488)
(9,488)|
||**Total**
-
274,508
274,508
**Unapplied total return allocated to income**
-
(160,359)
(160,359)
**Net Transfer in**
-
75
75|
||**Net movement in period**
-
114,224
114,224
**Closing value of permanent endowment**
**Gift component of permanent endowment**
2,500,000
2,500,000
**Unapplied total return**
**-**
1,524,107
-|
||**Total**
**2,500,000**
**1,524,107**
**4,024,107**|
By a Resolution dated 11[th] February 2021, and in exercise of the powers conferred on them by the Charities Act 2011, the trustees adopted the Total Return Approach to the investment fund, the gift component element was identified as being £2,500,000 as at that date.
-12-
## **THE RADBROOK FOUNDATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2025 (CONTINUED)**
## **11. Analysis of Charitable Funds**
||**Funds**
**B/Fwd**
Permanent
Endowment Fund
3,907,979
Unrestricted Fund
346,225|**Income**
160,359
11,600|**Expenditure**
(9,484)
(126,940)|**Transfers**
(160,691)
160,691|**Gains &**
**Losses**
**Fund**
**C/Fwd**
123,637
4,021,800
8,377
399,953|
|---|---|---|---|---|---|
||**Total**
4,254,204|171,959|(136,424)|-|132,014
4,421,753|
||**Analysis of Charitable**|||**Transfers**
(123,611)
123,611|**Gains &**
**Losses**
**Fund**
**C/Fwd**
342,672
3,907,979
17,946
346,225|
||
**Funds**
**B/Fwd**
Permanent
Endowment Fund
3,577,536
Unrestricted Fund
325,929|**Income**
123,611
10,141||||
||**Total**
3,903,465|133,752|(143,631)|-|360,618
4,254,204|
## **Permanent Endowment (Trust for investment):**
## **Fund Name Type**
## **Purpose and Restrictions**
CCM Portfolio Tailored Investment Portfolio of diverse quoted shares and securities under the discretionary management of CCM
The prime purpose is to create investment income to be used in the provision of bursaries and other financial assistance to part of Shrewsbury Colleges Group and its Relevant Students.
## **Unrestricted funds (Trust for application):**
## **Fund Name Type**
## **Purpose and Restrictions**
CCM Fund Purchased units in a Common Managers Investment Fund (CIF) designed specifically for charities, managed as long-term investment.
To provide further resources towards bursary grants as may be required from time to time.
-13-