2021-12-31-accounts - Hackblock Educational Charity

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HACKBLOCK EDUCATIONAL CHARITY

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

HACKBLOCK EDUCATIONAL CHARITY

INDEX

Trustees’ annual report Independent Examiners’ report Balance sheet Statement of financial activities Notes to the accounts	Page
	1 2 3 4 5 – 6

HACKBLOCK EDUCATIONAL CHARITY

TRUSTEES’ ANNUAL REPORT

REFERENCE AND ADMINISTRATION DETAILS

The Trustees present their annual report and financial statements for the year ended 31 December 2021.

The Charity was established on 3 June 1991 under the Charity Commissioners’ scheme No.1003410.

The Charity’s principal address is The Vicarage, Burnham Road, Southminster, Essex CM0 7ES.

The Trustees during the year were as follows:-

Chairman Mr J Graham Managing Trustee & Treasurer Mr M Bikhazi Trustees Mr P Adams Mr P Lucas Rev P Begley Canon A Smith

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity is governed by the Scheme of the Commissioners sealed 3 June 1991.

The body of Managing Trustees consist of three Ex-officio Managing Trustees, one Nominated Managing Trustee and one Co-opted Managing Trustee. The Ex-officio Managing Trustees shall be the incumbent for the time being of the present benefice of St. Leonard, Southminster, and the Churchwardens of the present Ecclesiastical Parish of St. Leonard, Southminster.

OBJECTIVES AND ACTIVITIES

The main objective of the Charity is to provide funds to support children and educational needs of young people under the age of 25 living in the parish of St. Leonard’s, Southminster and neighbouring parishes. This can include financial support for the governors of Southminster Primary (C of E) School. Grants may also be allocated to individuals or other bodies, after an application to the Trustees, in accordance with the scheme laid down by the Charity Commissioners. To increase awareness of the Charity, the Governors advertise to young people in the Southminster area to request applications for funding. Funds are obtained by way of investment income.

ACHIEVEMENTS AND PERFORMANCE

During the year, income of £31,455 was received and £4,287 was expended. The value of the investments held with the Church of England Investment Fund and cash was £1,386,720

The trustees have maintained the annual adjustment for inflation.

By order of the board of trustees – 27 September 2022.

P Lucas Interim Treasurer

INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF

HACKBLOCK EDUCATIONAL CHARITY (Scheme No.1003410)

We report on the Accounts of the Charity for the year ended 31 December 2021 set out on pages 3 to 6.

Respective responsibilities of Trustees and Examiners.

The Charity’s Trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the Act)) and that an independent examination is needed.

It is our responsibility to:

Examine the accounts (under section 145 of the Act);
To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Act); and
To state whether particular matters have come to our attention.

Basis of Independent Examiners’ report

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.

Independent Examiners’ statement

In connection with our examination, no matter has come to our attention:

1 which gives us reasonable cause to believe that in any material respect the Trustees have not met the requirements to ensure that:
Proper accounting records are kept (in accordance with section 130 of the Act); and
Accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
2 to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Maynard Heady LLP

27 September 2022

Chartered Accountants Reporting Accountants

Arlington House West Station Business Park Spital Road Maldon Essex CM9 6FF

HACKBLOCK EDUCATIONAL CHARITY

BALANCE SHEET AS AT 31 DECEMBER 2021

FIXED ASSETS Investments CURRENT ASSETS Cash at bank LIABILITIES: Amounts falling due within one year NET CURRENT ASSETS FUNDS Unrestricted:- Capital Distributable	Notes 2021 2020 3 1,237,901 1,082,976 148,819 119,770 __ _ 4 3,063 1,182 145,756 118,588 _ __ £1,383,657 £1,201,564 ======== ======== 5 829,510 803,458 5 554,147 398,106 __ ______ £1,383,657 £1,201,564 ======== ========

Approved by the Board of Trustees on 27 September 2022 and signed on its behalf by

P Lucas ____

The notes on Pages 5 to 6 form part of these Accounts.

HACKBLOCK EDUCATIONAL CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

		2021		2020
INCOME AND EXPENDITURE		General Fund	General Fund
INCOMING RESOURCES
Interest received		9		404
Dividends received		31,446		30,337
		_		_
		31,455		30,741
RESOURCES EXPENDED
Direct charitable expenditure:-
Grants	2,706		13,232
Other charitable expenditure:-
Accountancy fee	1,080		1,151
Bank charges	-		-
Computer expenses	501		-
	_		_
TOTAL RESOURCES EXPENDED		4,287		14,383
		_		_
NET INCOMING RESOURCES FOR THE YEAR		27,168		16,358
OTHER RECOGNISED GAINS AND LOSSES
Unrealised gain/(loss) on investment assets		154,925		71,959
		_		_
NET MOVEMENT IN FUNDS		182,093		88,317
BALANCE BROUGHT FORWARD		1,201,564		1,113,247
		___		___
BALANCE CARRIED FORWARD		£1,383,657		£1,201,564
		=========		=========
(See Note 5)

HACKBLOCK EDUCATIONAL CHARITY

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

1.1 The financial statements are prepared under the basis of historical cost, with the exception of fixed asset investments, in accordance with Accounting and Reporting by Charities – Statement of Recommended Practice, Accounting Standards and with the Charities Act 2011.
1.2 Fixed asset investments are stated at a current market value.

2. INVESTMENT STRATEGY

The Trustees retained the investment policy of investing in share and interest-earning accounts.

3. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
	2021	2020
Quoted investments
Balance at 1 January 2021	1,082,976	1,011,017
Investment additions	-	-
Net unrealised investment gain/(loss)	154,925	71,959
	___	_
Market value at 31 December 2021	£1,237,901	£1,082,976
	=========	=========
Historical cost as at 31 December 2021	£463,648	£463,648
	=======	=======

The above investment represents 52,860.85 (2020	The above investment represents 52,860.85 (2020	– 52,860.85)	shares in the Central Board of
Finance of the Church of England Investment Fund.
LIABILITES Falling due within one year:		2021	2020
Accruals		£3,063	£1,182
		======	======
UNRESTRICTED FUNDS
	Capital	Distributable	Total
Balance b/fwd	803,458	398,106	1,201,564
Net flow for the year (page 4)	-	182,093	182,093
Inflation protection	26,052	(26,052)	-
	_____
Balance c/fwd	£829,510	£554,147	£1,383,657
==================================

4. 5. UNRESTRICTED FUNDS

HACKBLOCK EDUCATIONAL CHARITY

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

6. UNRESTRICTED FUNDS (Continued)

Whilst not a stipulation of the original Trust Deed, the Trustees have maintained a policy of protecting the original capital fund by way of an allocation out of the income and capital growth. The transfer of £26,052 this year has been based on an inflationary increase of 2%.

OUTSTANDING GRANTS

OUTSTANDING GRANTS
	2021	2020
At the year end, expenditure had been
authorised but not yet paid of	£2,500	£5,500
	======	======