Registered Charlty Number 1095238
Hackney Free and Parochial Schools Educatlonal Trust
Annual Report and Financial Statements
For the year ended S April 2021
Unaudited

Hackne
Free and Parochial Schools
Educational Trust
Contents
Page
Trust Information
Report of the Trustees
ststement of Trustees, Responslbilities
Report of the Independent Examiner
Statement of Financial Activities
io
Balance Sheet
li
Accounting Policies
12-15
Notes to the Financial Statements
16-19

Hackne
Free and Parochial Schools
Ed¢Jcational Trust
Trust Information for Year Ended 5 A
ril 2021
Trustees;
PS Harvey
D J Horder
L M Horder
S Hase
Reverend A Gordon
Reverend M Nelson
C Reeves
Principal Office and Administration;
The Trust Partnership (Foundations) Ltd
6 Trull Fami Building5
Tetbury
Gloucestershire
GL88SQ
Bankers;
Barclays Bank pl
I Churchill Place
London E14 5HP
Independent Examiner,
Dunkley's
Woodlands Grange
Woodlands
Bradley Stoke
Bristol
BS32 4JY
Sollcltors"
Farrer & Co
66 Lincoln's Inn Fields
London SW2A 3LH
Investment Managers;
CCLA Investment Management Lt
80 Cheapside
London EC2V 6DZ
M&G Securities Ltd
Victoria Road
Chelmsford CM99 2XF

Hackne
Free and Parochlal Schools
Educational Trust
Re
ort of the Trustees for Year Ended 5 A ril 2021
The trustees present their Report and Firsancial Statements for the year ended 5 April 2021.
Introductlon
The Hackney Free and Parochial Schools Educational Trust (the Trust) was registered with the Charity
Commission on 12 November 2012, nLtmber 1095238. The Hackney Free and Parochial Schools
comprise The Urswick School Iformerly Hackney Free and Parochial Secondary School) at Paragon
Road, Hackney E9 6NR and St John and St James Primary School at Isabella Road, Hackney E9 6DX.
Prior to the registration of the Trust, the Hackney Free and Parochial Schools Reconstruction Fund,
which was governed by a 1905 Board of Education Scheme with funds derived largely from a public
appeal for donations made in 1937. refurbished and rectified faLtlts with the fabric of the Rams
Episcopal Primary School Inow known as St John and St James Primary Sthooll, an(1 offset the
maintenance costs of the schools. In the early 1990's, two major projects were carried out, the first to
move the split 51te Hackney Free and Parochial Secondary School onto one site and the second to carry
out development work at the Rams Episcopal Primary School. Since this time and until the registration
of the Trust, the fund made contributions towards the maintenance costs both of both the Hackney
Free and St John and St James, Schools.
Structure, Governance and Management
Recruitment and appointment of new trustees
The charity has seven trustees who meet twice a year. As permitted by the Charity Commission during
the Covid-19 pandemic, the Trustees held their meetings by video conference. The identification of
potential new trustees is carried out by the board, the aim being to appoint those with the appropriate
expert15e and experience for the charity's work. On agreeing to become a trustee of the charity, they
are thoroughly briefed by their co-trustees on the history of the trust, the day-to-day management,
the responsibilities of the trustees, the turrent objectives and future plans. The trustees are also
encouraged to attend any courses.
Key Management Personnel
The trustees consider that they, and the secretary to the trustees, comprise the key management
of the charity in charge of directing and controlling, running and operating the charity on a day to
day basis. The trustee5 receive no remuneration.
Organisational strurture
The trustees are ultimately responsible for the policies, activities and assets of the charity. They meet
two times every year to review developments with regard to the charity, its grant giving activities and
to make any important decisions. When necessary, the trustees seek advice and support from the
Charity's professional advisers.
Safeguardlng
The trustees reviewed their responsibilities in relation to safeguarding. It was agreed that DBS checks
were not required as the trustees do not work in direct contact with children. When the trustees visit
the schools they are accompanied and comply with any specific requirements of the schools when on
their premises. It is the trustees policy to consider these matters annually, and the Clerk confirmed
that the schools have a safeguarding policy in place and there were no significant incidents to report
to the Trustees.

Hackne
Free and Parochial Schools
Educational Trust
Re ort of the Trustees for Year Ended 5 A
ril 2021
Rlsk management
In line with the requirement for trustee5 to undertake a risk assessment exercise and report on the
same in their annual report, the trustees have looked at the risks. The trustees have identified five
main areas where risks may occur..
- Governance and management
Operational
Financial
Reputational
Law5. regulations, external and environmental
Governance and management look at the risk the charity might suffer from the lack of direction, the
skills and training of the trustees and the good use of its funds.
Operational looks at the risk inherent in the charity's actlvities including sUPPOrting unsuitable appeals
from charities. continuity of staff. lack of a disaster recovery poliry, etc.
Financial risks include those arising as a result of poor budgetary control, inappropriate spending, poor
accountin& inappropriate investment policies, etc.
Reputational looks at the possible damage to the charity's reputation. through association with
un5Uitable charities, or with inappropriate activity.
Laws, regulations, external and environmental look5 at the effects of government policies and the
consequences of non-compliance with the laws and regulations.
Havin8 assessed the major risks to which the charity is exposed, in particular to its finances, the
trustees believe that by monitoring reserve levels, by ensuring that controls exist overthe key financial
5YStems, and by examining the operational and business risks faced by the charity, they have
established effective system5 to mitigate those risks.
Object and Public Benefit
The object of the charity as set out in the Charity Commission Scheme Is..
'the advancement of education at or in connection with the Hackney Free and Parochial Church of
England Secondary School and St John and St Jame5 Church of England Prlmary School (the Schools),.
Hackney Free and Parochial Secondary School changed its name to The Urswick School in September
2011.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's
general guidance on public benefit when reviewing the Trust's aim5 and objectives and in planning
future activities. The public benefit provided by the Trust is for additional educational purposes over
and above the delegated budgets received by the Schools.

Hackne
Free and Parochial Schools
Educational Trust
Re
ort of the Trustees for Year Ended 5 A
ril 2021
Artivities during the year
Generally the Trust makes one grant to each school each after the accounts have been approved, in
order to continue to advance educational benefits to the pupils at these schools. being the
beneficiaries of the Trust. Due to the Covid-19 pandemic, the Trust encouraged the schools to make
applications for fundin8 for specific projects to help alleviate the impact of the pandemic on the
pupils, where Government funding was not available or insufficient. Only one School was
forthcomlng with requests which the Trustees supported. The Trustees will continue to support
both schools going forward and they are encouraging The Urswick School to provide reports and
applications for fund5.
Trustees
The Scheme allows for seven trustees lone ex offlclo, one nominated and fwe co-opted). The trustees
who seNed during the year are those listed on page three. The ex officio trustees, term of office is the
period for which he or she holds the office of Rector of Hackney. The nominated trustees, term of
office is four years and co-opted trustees, terms of offlce are five years.
Investment perforrnance
The value of investments at 5 April 2021 was £1,955,545, an increase of £806,975 on the original
investment.
Financial review
Details of the Trust5 incoming and outgoing resources in the year are given in the Statement of
Financial Activities on page nine. The Trusts financial position on 5 April 2020 is set out in the Balance
Sheet on page ten. These Financial Statements should be read in conjunction with the related
accounting policies and notes on pages eleven to eighteen.
Income for the year was £73,302 12020 £86,656). Expenditure for the year was £78,611 12020
E65,4791. At the year ended 5, April 2021, there was a deficit, before investment losses, of £5.309
12020 surplus £21.1771. Investment gain for the year were £324.60412020 lo55 £275,315).
Resekves and Investment Policy
The trustees, policy 15 to preserve the investment base of the Trust to ensure that sufficient income is
generated annually to meet the Trusts requirements.

Hackne
Free and Parochial Schoo15
Educa
ional Trust
Statement of Trustees, Res
onsibilities for Year Ended S A
ril 2021
Assessment of going concern
The trustees have assessed whether the use of the going concern assumption 15 appropriate in
preparing these financial statements. The trustees have made this assessment in respect to a period
of one year from the date of approval of these financial statements. The trustees of the Charity have
concluded that there are no material uncertainties related to events or conditions that may cast
significant doubt on the ability of the Charity to continue as a going concern. Given the additional
challenges of Coronavirus and Covid-19 in 2020121, the trustees are of the opinion that the Charity
will still have sufficient resources to meet its liabilities as they fall due.
Future developments
We will continue to maintain and develop relationships with The Urswick School and St John and St
James Primary School and to consider grant applications from each.
The purpose of this statement is to distinguish the responsibilities of the trustees, a5 a body, for the
Financial Statements from the responsibilities of the independent examiner as stated in their report.
The Trust Deed and Charity Law require the trustees to prepare Financial Statements for each financial
year which give a true and fair view of the state of affairs of the Trust and of its financial position at
the end of the year. In preparing those Financial Statements the trustees are required to..
Select suitable Accounting Policie5 and then apply them consistentlv:
Observe the methods and principals of the Charities SORP, Accounting and Reporting by
Charities,.
Make jL¢dgements and estimates that are reasonable and prudent:
State whether applicable United Kingdom Generally Accepted Accounting Practice (United
Kingdom Accounting Standards and applicable lawl ha5 been followed, disclosing and
explaining any departures therefrom in the Financial Statements- and
Prepare the Financial statements on the going concern basis unless it is inappropriate to
presume that the Trust will continue in operation.

Hackne
Free and Parochial Schools
Educational Trust
Statement of Trustees, Res
onsibilities for Year Ended 5 A
ril 2021
The trustees are responsible for maintaining proper accounting records which disclose with
reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that
the Financial Statements comply with the Charities Act 2011 and the Trust Deed. They are also
responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
By Order of the Board of Trustee5
..16J.i.kl.... ..2021
.. Trustee IICWI ￿lFJ& kJELgki

Inde
endent Examiner's Re
ort to the Trustees of
Hackne
Free and Parochi
I Schools Educational Trust
Independent examiner's report to the trustees of Hackney Free and Parochial Schools Educational
Trust
I report to the charity trustees on my examlnation of the accounts of Hackney Free and Parochial
Schools Educational Trust Ithe Trust) for the year ended 5th April 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in
accordan￿ with the requirements of the Charities Act 20111'the Act'l.
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act
and in carrying out my examination I have followed all applicable Directlons given by the Charity
Commission under section 14515llbl of the Act.
Independent examlner'$ statement
I have completed my examination. I confirm that no material matters have come to my attention in
tonnection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respert of the'Tru5t as required by section 130 of the Act,. or
the accounts do not accord with those records,. or
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 ol the
accounts to be reached.
Matthew Dobbins FCA
Dunkley's
Woodlands Grange
Woodland5 Lane
Bradley Stoke
Bristol
BS32 4JY
Date..
1710112022

Hackne
Free and Parochial Schools
Educational Trust
Statement of Financial Activities for Year Ended 5 A
ril 2021
Unrestrlrted
Re5tri(ted
Z021
2020
Note
funds
funds
Total Funds
Total Funds
Income
Investment Incoft
73,302
73,302
86,656
Total Income
73,302
73.302
86,656
Expenditure
Charitable expendirure
58,CKK>
58.orKI
50,460
other Costs
20,611
20.611
15,019
Total Charitable Expenditure
78,611
78.611
65.479
Unrealised gains1llossesl on investment
assets
327,750
327.750
1275,3151
Net Incomellexpenditurel
322.441
322.441
1254,1381
Net Movement in Funds
322,441
322.441
1254.1381
Balance at beginning of year
2.381.404
8,600
2,390,004
2,644,142
Balance at end of year
2.703.845
8.600
2,712,445
2,390,004
The Trust had no ￿cOgnised Ealns or losses
other than those stated above. All income Is
derbved Irom continuing activities.
The notes on pages 11-18 form part of these financial statements
io

Hackne
Free and Parochial Schools
Educational Trust
Balance Sheet for Year Ended S A
ril 2021
Note
05.04.21
05.04.20
Total Funds
Total Funds
Foxed Asse1$
Tanglble assets- Leasehold property
Investments
7W,000
1,630,940
1,958,690
2,658,690
2.330.940
Cuffont A55ets
Debtots
1.959
56.454
1.899
60.933
Cash at bank and in hand
Credltors
Amounts falling due withln one year
14,6581
3.7681
Current Assets Less Current Llabilitles
53,755
59.064
NetAsset5
2,712,445
2.390,004
Funds
io
General fund
2.198,845
505,ODJ
8,600
1,876.404
505,000
8.600
General fund Revaluatlon Reserve
Restrlcted fund IRH fjapper Legacy)
2,712,445
2.390,004
Approved by the trustees and signed on their behalf by..
. Trustee
Ib/lz/
2021
The notes on page5 11-18 form part of these financial statements
li

Hackne
Free and Parochial Schools
Educational Trust
Accountin
Policies for Year Ended 5 A
l. Basis of Accounting
ril 2021
These accounts have been prepared for the year to S April 2021.
The accounts have been prepared under the historical tost convention with items recognised at cost
or transaction value unless otherwise stated in the relevant accounting policies below or the notes to
these attounts.
The accounts have been prepared in actordance with 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 IFRS 102) (Charities
50RP FRS 1021 issued on 16 July 2014, Update Bulletin l issued on 2 February 2016, the Financial
Reportirkg Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The date of transition to the Charities SORP FRS 102 was l July 2014. This is the first set of accounts
of the charity prepa￿d in accordance with the Charitie5 SORP FRS 102.
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts are presented.in sterling and are rounded to the nearest pound.
Assessment of goinE concern
The trustees have assessed whetherthe use of the going concern assumption is appropriate
in preparin8 these financial statements. The trustees have made this assessment in respect
to a period of one year from the date of approval of these financial ststements.
The trustees of the Charity have concluded that there are no material uncertainties related to events
or conditions that may cast significant doubt on the ability of the Charity to continue as a going
concern. Given the additional challenges of Coronavirus and Covid-19 in 2020121, the trustees are of
the opinion that the Charlty will still have sufficient resources to meet its liabilities as they fall due.
12

Hackne
Free and Parochial Scho
Educational Trust
Accountin
Policies for Year Ended 5 A
ril 2021
2. Accountlng policies
Leasehold Property
The leasehold property is included at market value, less depreciation and impairment at the Balance
Sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities ISOFAI.
The property, now vacant, is currently not being marketed for sale and purchase of the freehold is on
hold pending clarification of the legal title. The Trustees have recently engaged a solicitor to prepare
an application to the Land Registry to try to resolve the issue around the title.
Investments
Unit Trust investments have been valued at middle market price5 at the Balance Sheet date. Ary gain
or loss on revalijation is taken to the SOFA. Other investments are high interest cash deposit accounts.
Listed investments are a form of basic financial instrument and are initially recognised at their
transaction value and subsequently measured at their fair value as at the balance sheet date using the
closing quoted market prlce.
The charity does not acquire put options, derivatives or Other complex financial instruments.
Realised gains lor losses) on investment assets are calculated as the difference between disposal
proceeds and their opening carrying value or their purchase value is acquired subsequent to the first
day of the financial year. Unrealised gains and losses are calculated as the difference between the fair
value at the year end and their carrying value at that date. Reali5ed and unrealised investment gains
lor losses) are combined in the Statement of finoncial activities and are credited lor debited) in the
year in which they arise.
Other Investments are included at cost, which is considered to be approximate to their market value.
Income
Income is recognised in the period in which the charity has entitlement to the income, the amount of
income can be measured reliably. and it is probable that the income will be received.
Income comprises notional rent income, investment income and interest receivable.
Dividends are recognised once the dividend has been declared and notification has been received of
the dividend due.
Expenditure
Liabilitles are recognised as expenditure as soon as there is a legal or constructive obligation
committing the group or charity to make a payment to 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 rnea5u￿d
reliablv.
13

Hackne
Free and Parochial Schools
Educational Tru
Accountin
Policies for Year Ended 5 A
ril 2021
Expenditure {continued)
All expenditure is accounted for on an accruals basis and includes attributable VAT which cannot be
recovered. Expenditure comprises dirett costs and sUPPOrt costs. All expenses, including support
costs, are allocated to the applicable expenditure heading.
Grants payable are included in the statement of financial activities when approved and when the
intended recipient has either received the funds or been informed of the decision to make the grant
and has satisfied all related conditions
Allocation of support and governance costs
Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of
the chority it is necessary to provide support in the form of financial and governance procedures,
provision of office seNices and equipment and a suitable working environment.
Governance costs comprise all costs relating to the public accountability of the charity and it5
compliance with regulation and good pradite. These costs include costs relating to the'independent
examination of the financial statements and legal fees.
Support costs and governance costs are allocated to the charlvs single charitable activity.
Taxation
The Trust is treated for tax purposes as a charity and is not liable to Income Tax on investment income
or income derived from charitable activitie5. The Trust is not registered for VAT. All amounts in the
SOFA are shown inclusive of VAT, where relevant.
Debtors
Debtors are recognised at their settlement amount, less any provision for non-recoverability.
Prepayment5 are valued at the amount prepaid. They have been discounted to the present value of
the future cash receipt where such discounting is material.
Cash at bank and In hand
Cash at bank and in hand represents such accounts and instruments that are available on demand or
have a maturity of less than three months from the date of acquisition.
Creditors and provislons
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a
result of a past event, it is probable that a transfer of economic benefit will be required in settlement,
nd the amount of the settlement can be estimated reliably. Creditors and provisions are recognised
at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the
present value of the future cash payment where such discounting is material.
14

Hackne
Free and Parochial Sch ols
Educational TfU5t
Accountin
Policies for Y ar Ended 5 A
ri12021
Fund accountlng
Restricted funds are monies raised for, and their used restricted to. a specific purpose. or donations
subject to donor imposed conditions lincome and expenditure relatlng to the R H Gapper Legacvl.
Unrestricted funds represent those monies that are freely available for application towards achieving
any charitable purpose that fall within the charity's charitable objects.
Statement of cash flows
The financial statements do not include a statement of cash flows because the charity is exempt from
the requirement to prepare such a statement under the Charities SORP FRS 102 Update Bulletin l.
15

Hackne
Free and Parochial Schools
Educational Trust
Notes to the Financial Statements for Year Ended 5 A
ri12
21
3. Charitable Expenditure
Unrestricte
Grants to The Urswick School
Grants to St John and Stjarnes Prlmary School
2021
2020
30,276
20,184
58.000
58,000
50,460
zozi
2020
4. Othercosts
Independent Examlnelsfee
Accountancyfees
Clerking feÈS lThPI
Legal fees
Premise expenses
Other sundry expenses
600
720
2,814
6,397
3,600
4,818
1.909
3,938
2.402
3,452
2.598
2,382
20,611
15.019
The trustees received no ￿MUneratIon fcrtheir servtes to the Trust and no expenses were relmbursed.
5. Movement on Unit Trust Investment5
2021
2020
Investments at market value at beginning of year
1.630.940
1,906.255
Additions In year
SufpIu5lllossl on waluatK)n of investments atthe year eMI
327,750
1275,3151
Investments at market value at end of year (see note 71
1.958,690
1.630,940
TheTrust Is not chargeable to corporatlon tax on capital galns and. therefore, there would be no IKabiif(y to CorpOrat￿)n tax on capital gains if the
investments were realised atthe market value shown in the Financial Staternents.
16

Hackne
Free and Parochial S hoo15
Educational Trust
Notes to the Financial
ements for Year Ended 5 A
ril 2021
6. Tang]ble Fixed Assets
2021
2020
Leasehold prO￿rtY3tya1UatIOn at beginningand end of year
7(Kl,000
700,OLK)
The Trust owns the leasehold interest In the School Keepei's House of Urswick Sch¢)ol Iformerlythe Hackney Free and Paiochial School), whlch
was independently valued by 8unch and Duke on 15 July 2014. The le35e runs from June 1985 to October 2083. The PToperty, while previously
understood to be freehold has been corrected to dls¢lose the COr￿Ct ownershlp. The trustees have agreed that the property should be shown at
market value. The property* now vacant. Is currently not being marketed forsale and purtha5e of the freehold Is on hold pending ckrlflcation of
An updated valuation was obtsined in 2017 from Bunch and Duke wlth an effective date of 05.04.17. The revlsed valuatlon was reflected in the
Financlal siatements forthe yearto 5 April 2017.
2021
Z020
Market
Market
Value
Value
7. Investments
Name of Investment
Units
Cost
COIF Charltles, Investment Fund
48,411.49120201
48.411.49120211
Incorne unrts
369,686
867,843
725,227
COIF Charitie5' Property Fund
Income units
82,294.24120201
82.294.24120211
87.884
94,144
96,235
Charffttnd- Equf(ie5 Investment Fund
for Charities- Income units
67,712.106120201
67.712.106120211
6911X
996,703
809,478
1.144570
1,958,690
1,630,940
8. Debtor5 and Prepaymet
2021
2020
Debtors
Prepayments
1,959
,959
1,899
1,899
9. Creditors
2021
Z020
C￿dItorS
Ac¢ruals
3.608
1.050
4,658
2,943
825
3.768
17

Hackne
Free and Parochial Schools
Educational Trust
Notes to the Finantial Statements for Year Ended 5 A
ril 2021
io. Assets analysed by Fund 2021
Investment
pr¢)perty
Net Current
Investments
Total
General Fund
195,OCK)
1.958,6
45,155
2.198,845
General Fund Revaluation Reserve
505.orK)
505,000
Restritted Fund
8.600
8,600
700,OCK)
1,958,690
53,755
2.712,445
10. Assets afialysed by Fund 2020
Investment
Property
Net Current
Investrnents
Total
General Fund
195.OQK)
1,630,940
50,464
1.876.404
General Fund Revaluation Reserve
505,OCK)
505.000
Restricted Fund
8,600
8,600
700.000
1,630940
59,C64
2,390,IJ)4
11. Related Parties
The trustees consider The Urswick School and St John and St James Primary School to be related parties of the charity due
to the Close ties between the charrty ènd the 5choo15. The Trustee< Annual Report details how ihe objects of the charity
interact with the Schools. Note 3 of the h'nancial statements details, in aggregate, the grants awarded to the schools.
The tru$tees recelved no remuneration for theirservices to the Tnjst and no expenses were reimbursed.
18

Hackne
Free and Parochial Schools
Educational Trust
Note5 to the Financial Statements for Year Ended 5 A
ril 2021
12. Comparative statement of Flnanclal A¢iivitiesfor Ye•r Ended 5 April 2020
Unrestrlcted
Restrlrted
2020
Total
Funds
Note
funds
funds
Income
Investment Income
86,656
86,656
Total Income
86,656
86,656
Expendlture
Charitable expenditure
50,460
50,460
Other Costs
15,019
15,019
Total Charitable Expendlture
65,479
65,479
Unreallsed losses on investments assets
1275,3151
1275.3151
Net Expenditur•
1254,1381
1254,1381
Net Movement in Funds
1254,1381
1254,1381
Balance at beginning of year
2,635.542
2.644,142
Balah¢t ¥t end of year
2,381,404
8,600
2.390,(h)4
19