Charity registration number 1125447
HANNAH MEMORIALACADEMY TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 15 FEBRUARY 2025
HANNAH MEMORIALACADEMY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | C Browning |
|---|---|
| C MacLaverty | |
| B Pattie | |
| J Higham | |
| H Wilde | |
| R Varma | |
| R Maclaverty | |
| Charity number | 1125447 |
| Principal address | 32 Thames Haven |
| Portsmouth Road | |
| SURBITON | |
| Surrey | |
| KT6 4JA | |
| Independent examiner | Siobhan Glenister, FCA |
| 5 The Square | |
| Bagshot | |
| Surrey | |
| United Kingdom | |
| GU19 5AX |
HANNAH MEMORIALACADEMY TRUST
CONTENTS
Page Trustees' report 1 - 8 Independent examiner's report 9 Statement of financial activities 10 Balance sheet 11 Notes to the financial statements 12 - 17
HANNAH MEMORIAL ACADEMY TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 15 FEBRUARY 2025
The trustees present their annual report and financial statements for the year ended 15 February 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust'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 (FRS 102)" (effective 1 January 2019).
Objectives and activities
The primary charitable objective is to advance the education of the pupils at Hannah Memorial Academy, Darjeeling, India, in particular, but not exclusively, by providing and assisting in The provision of facilities for education, the sponsorship of teachers, and the provision of equipment.
Provision of finance for Hannah Memorial Academy to continue in its charitable objectives for the purpose of the charity: Main activities undertaken by the charity to further its charitable purposes for the public benefit: Providing funds to support the education of underprivileged children attending the Hannah Memorial Academy and supporting their further education where appropriate.
The Hannah Memorial Academy Trust was set up in 2008 with the sole purpose of supporting the Hannah Memorial Academy in Santi Gram, Dooteriah Tea Garden Darjeeling, West Bengal, India by providing adequate financial support to assist in the provision of facilities for education, sponsorship of teachers and the provision of equipment.
The Hannah Memorial Academy itself is run by the Director and Founder Jason Lepchka and Principal Isabella Lepcha and Academy governance is overseen by an Indian Board of Trustees with 7 active members local to Darjeeling and the Tea Garden Region with relevant appropriate experience.
The Hannah Memorial Academy provides free education to children living in poverty in Darjeeling. There are a headmistress and 4 teachers (Total Annual Salaries: 804,000 Indian Rupees: £7,236). They are supported by non-teaching staff of a driver (who collects children and staff living far away from the school), a cook and two caretakers (Total Annual Salaries: 396,000 Indian Rupees: £3,564). All staff are paid an annual bonus collectively of 100,000 Indian Rupees: £900 due to the remote location of the school in the Tea Plantation Gardens from Darjeeling central location, down in the valley. This is equivalent to a month’s wages each at their respective rates. The Hannah Memorial Academy Car costs 231,000 Indian Rupees in fuel each year: £2,079 and is instrumental in getting to remote villages for recruitment of new students, as well as transportation of current students and staff from homes to the Hannah Memorial Academy. The additional expense of maintaining the vehicle and paying the car insurance costs and tax and tyres and repairs etc are 30,000 Indian Rupees: £270. The schoolchildren are of primary school age and are provided with 2 sets of free uniforms, (including a games uniform) and shoes, (Annual cost for students 84,700 Indian Rupees: £763) They are also provided books for their learning (Annual cost of stationary, books and photocopies for the children to learn cost 79,000 Indian Rupees: £711) for this reporting period considered to be everyday essential student resources such as books, pens and pencils for educational purposes.
We also support development through play and provide toys and playground equipment for both indoor and outdoor use, including sport, such as football, to keep children active and healthy and socialized with their peers (Annual cost 35,000 Indian Rupees: £315 for children’s entertainment expenses) giving them vital playtime with child-friendly resources, an opportunity they may lack at home. Students’ health and nutrition are supported with hygiene kits: toothbrushes and toothpaste, as well as provided with a free school lunch (Annual costs for food, toiletries etc 31,800 Indian Rupees: £287).
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HANNAH MEMORIAL ACADEMY TRUST
TRUSTEES' REPORT (CONTINUUED)
FOR THE YEAR ENDED 15 FEBRUARY 2025
School children are supported in class by ability rather than age which works well. Each year, most of the top class graduate to secondary schools where they stay until the age of sixteen. Their uniforms and books are essential components of their attendance, so we like to fund these to ensure that they can continue their quality education locally. We sponsor former Hannah Memorial Academy Students to attend Higher Secondary after they graduate from Hannah Memorial Academy. We are currently supporting 18 Higher Secondary students, 11 boys, 7 girls (Annual Sponsorship cost of academic resources and additional support to succeed is 126,000 Indian Rupees: £1,134 about £63 per Higher Secondary Student). We also sponsor former Hannah Memorial Academy students to attend University after they graduate from Higher Secondary. We are currently supporting 9 boys and 5 girls at standard universities - (Annual Sponsorship cost of academic resources and additional support to succeed is 210,000 Indian Rupees: £1,890 about £135 per University Student). We are currently sponsoring one former female Hannah Memorial Academy student to study medicine, which is more expensive, so we are supporting her to achieve her dreams by sponsoring her to do so (Annual MBBS Sponsorship 100,000 Indian Rupees: £900). She intends to graduate as a gynaecological doctor in the future and stay in the Darjeeling region to serve her local community. We are so proud of her ambition and achievement. We hope that all Hannah Memorial Academy students can go on to further study if they so wish and that these sponsorship successes illustrate our vision of ‘Education and Inspiration’ for all our students. Where possible, as long as resources permit, Hannah Memorial Academy students will be funded to attend further education.
The Hannah Memorial Academy Trust also provides capital support for the Hannah Memorial Academy to exist by providing resources for the much-needed facilities and repairs and upgrades to existing buildings and equipment as appropriate and needed. This can vary year on year from provision of or upgrade to essential facilities such as toilets this year (840,000 Indian Rupees: £7,560), 15,000 litre water tank, solar panels (annual maintenance 4,500 Indian Rupees: £40.50). Due to the ravages of the Monsoon Season, we have hard external flooring for half of the all-weather playground area in front of the school installed (890,000 Indian Rupees: £8,010) which has improved the play experience for the children in these months, but we could potentially expand this school flooring to more areas in the future. We also support maintenance or acquisition of 4x4 school vehicles as required (due to the rough roads and Monsoon Season) to transport children to and from the Academy as required as some live far away and their parents cannot afford transport. Children who live nearby can walk to school, often over impressive distances for their little legs, but this is not possible for those living in more remote locations. In total, the Hannah Memorial Academy costs were 4,248,200 Indian Rupees for operational and capital costs for 12 months (approximately £38,234) which we funded.
The Hannah Memorial Academy Trust is aware of the Sustainable Development Goals 2030 and considers the following also of relevance to the public benefit:
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No Poverty (End poverty in all its forms, everywhere): By 2030, eradicate extreme poverty for all people everywhere, currently measured as people living on less than $1.25 a day. When the Academy was originally set up, many of the children attending the Hannah Memorial Academy were the children of the employees of the local Tea Plantation who were living in poverty. The Tea Plantation Processing factory has since closed, but children of the Tea Plantation informal economy workers still attend and children from other very poor families living locally are also welcomed as they would not be able to afford the costs of their children attending a local Government school due to the cost of uniforms, books and travel to attend. Quality education is considered a pathway out of extreme poverty for those living in the Tea Garden Region of Darjeeling and we know from our students who go on to complete their higher studies and attend university that this is an effective route, preventing and relieving the effects of immediate poverty, empowering them with a brighter future through education and inspiration.
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HANNAH MEMORIAL ACADEMY TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 15 FEBRUARY 2025
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Zero Hunger: By 2030, end hunger and ensure access by all people, in particular the poor and people in vulnerable situations, including infants, to safe, nutritious and sufficient food all year round. The Hannah Memorial Academy Trust understands that although students might receive breakfast at home before they come to school, they are unlikely to be able to afford to be provided with lunch with them and so a free nutritious lunch is provided by the school, and additional snacks provided so that the children do not go hungry during term time. The Indian Government provides a small meal allowance for children later in the day, which they generally eat at home after class. By providing universal lunch provision, the Hannah Memorial Academy reduces the likelihood of children being hungry during classes, improving their ability to learn and thrive, contributing to this essential development goal.
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Good Health and Wellbeing (Ensure healthy lives and promote well-being for all at all ages): The Hannah Memorial Academy promotes good health and wellbeing by providing and promoting positive hygiene practice for students, from handwashing initiatives, to providing all children with toothbrushes and toothpaste (regularly replaced by the school) and support with safe and healthy toileting habits for the younger children. The Academy also acts as an informal community space for health and wellbeing campaigns locally, from anti-child trafficking campaigns to health camps where doctors visit to serve the local community on open health days. Children are also monitored for health and nutrition concerns while at school. Promoting safe toileting, hand hygiene and providing safe drinking water through use of water filters as well as providing a nutritious lunch for all students ensures healthy lives and promotes their well-being.
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Quality Education (Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all): By 2030, ensure that all girls and boys complete free, equitable and quality primary and secondary education leading to relevant and effective learning outcomes The Hannah Memorial Academy is free to all students to attend, and relevant free student resources (uniforms, shoes, handkerchiefs, books and pens) are provided so that they can thrive at school, and everyone has the same equal opportunity to learn. Girls and boys are both eligible for free education at Hannah Memorial Academy and all classes are taught in English by qualified teachers and it has a good reputation when children are graduating from Primary to Higher Secondary and on to university where relevant. Hannah Memorial Academy students that need extra financial support to attend Higher Secondary are provided with resources such as uniforms and books to aid their learning, while University students are provided with sponsorship to continue their further studies, and in occasional cases, support with accommodation costs where relevant. All Hannah Memorial Academy students are assessed during term-times for progress and are promoted to the next class after December exams if they pass and are supported to repeat the year with extra support if they need more time. Students graduate to Higher Secondary after the age of 11 when Primary is completed.
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HANNAH MEMORIAL ACADEMY TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 15 FEBRUARY 2025
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Gender Equality (Achieve gender equality and empower all women and girls): We are proud to report that Hannah Memorial Academy currently has a female Headmistress who is a positive role model for all the students and who has been with the Academy since its inception as one of its original founders. We also have female teachers. All girls at Hannah Memorial Academy are treated equally to the boys and many of the Higher Secondary and University Students sponsored are girls. We know that by educating and inspiring boys and girls through learning together, we show them that they can achieve anything if they attend classes, get an education and work hard, no matter their gender. We believe that by supporting girls to have a quality primary education and encouraging them to continue studying to Higher Secondary and beyond, keeps girls in school longer reducing future risks of child marriage (u18) and early pregnancy. By also supporting community health campaigns and initiatives at the Academy location outside of term-time, we are empowering more women and girls from poor communities with health-seeking behaviour and raising awareness of gendered risks, such as sex trafficking, early marriage and gender-based exploitation and violence.
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Clean Water and Sanitation (Ensure availability and sustainable management of water and sanitation for all): By 2030, achieve universal and equitable access to safe and affordable drinking water for all By 2030, achieve access to adequate and equitable sanitation and hygiene for all and end open defecation, paying special attention to the needs of women and girls and those in vulnerable situations Hannah Memorial Academy has a 15,000- litre water rainfall tank and provides water filters for drinking water purification for clean drinking water. The Academy also has sanitation facilities for students and teachers and children are supported to use the toilet safely and hygienically with a focus on hand washing and general hand hygiene.
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Affordable and Clean Energy: The Hannah Memorial Academy has installed solar power by means of renewable solar panels on the roof that means that the buildings and its external grounds can be lit by renewable sources. They are regularly maintained and are working well.
It is considered by the Trustees that the Hannah Memorial Academy Trust meets the test of Public Benefit by fulfilling its charitable objectives through its activity of financially supporting the Hannah Memorial Academy in its aims of preventing and reducing poverty through education and training, helping children and young people. By providing financial support to Hannah Memorial Academy, it can undertake and achieve its charitable objective of providing free education to underprivileged children in Darjeeling, including continuing them to thrive in further education, while contributing to Sustainable Development Goal progress, having due regard to the guidance of Public Benefit provided by the Charity Commission.
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HANNAH MEMORIAL ACADEMY TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 15 FEBRUARY 2025
Achievements and performance
Sufficient financial support has been provided to ensure that the Hannah Memorial Academy can continue in its charitable aim of providing education to underprivileged children in Darjeeling, India. This means that current students can continue to attend classes, delivered by qualified and trained teachers, provided with the necessary resources to succeed and former students can continue their studies after they graduate from Hannah Memorial Academy to improve their prospects, satisfying the vision of ‘Education and Inspiration’ in Hannah’s name. The school is Government Approved and Registered and situated in an area designated as below the official Indian Poverty line. Providing free, quality school education in the area while there are virtually no free government schools in the area, supports the ambitions of poor parents for their children to have a chance at a better life through education when they earn less than £1 day in the informal economy or are forced to migrate to larger cities for the chance of a better life. The teaching is all in English – the’ gold standard’ for teaching in India, and the qualified teachers ensure that the standard of English is at least as high as that seen in a good UK Primary school. The school is fully co-educational and offers sport and culture, as well as promoting academic excellence and has a robust reputation in the Tea Garden Region when children graduate from our ‘top class’.
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Free education for 22 students: 13 boys and 9 girls (3 years to 11 years) before students’ progress to Higher Secondary.
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Higher Secondary sponsorship of 16 students: 11 boys and 5 girls (age 11 -16/18) we pay for uniforms, books stationary.
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University sponsorship of 14 students: 9 boys and 5 girls (18 years +) University Students to continue their studies after Higher Secondary providing books and stationery needed and other relevant expenses required to succeed.
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Hannah Memorial Academy operational costs have been provided for 1 year – Teacher salaries, core costs for students, student sponsorship costs, transport vehicle costs, food for lunches, uniforms, books, school bag and games uniform, handkerchiefs, stationary)
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Hannah Memorial Academy capital costs have been provided where appropriate for repairs, rebuilding and maintenance to keep the Academy buildings and vehicle in good condition for the purposes of providing Hannah Memorial Academy education to underprivileged children in Darjeeling, India.
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Provide sufficient finance for Hannah Memorial Academy to fulfil its objectives in operating to provide education to underprivileged children.
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HANNAH MEMORIAL ACADEMY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 15 FEBRUARY 2025
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Sponsorship of former pupils in higher secondary education and university.
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Renovation or upgrade to building and grounds to keep it in adequate working condition.
We do not actively solicit members of the public for donations thanks to the consistent and loyal Hannah Memorial Academy supporters we have maintained over the years. We are happy with the level of donations as they are currently received which was £29,957 in this reporting period which was adequate to maintain annual funding given existing available resources.
A legacy gift from one of Hannah’s former schoolteachers was gratefully received in this financial reporting year of £285,000. This has been ethically invested with Paradigm Norton for the sole future benefit of the Hannah Memorial Academy to secure its future in educating underprivileged children in Darjeeling in Hannah’s name. We are still in the first year of this investment, so it is too early to report back on investment performance, but it has been safely managed in low-to medium risk accounts for medium to long-term investments for a secure and reasonable return in the future.
Financial review
Opening balance of Hannah Memorial Academy funds 14 February 2024: £32,039. Closing balance February 14,2025:£301,491.
The trustees have a reasonable expectation that the Hannah Memorial Academy Trust has adequate financial resources in place to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
No Restricted Reserves policy in place - the Hannah Memorial Academy Trust considers there to be sufficient income and adequate savings in place to be able to operate the Hannah Memorial Academy on an ongoing basis with a combination of donations from individual giving, existing savings and future contributions from the recent ethical investment of the legacy donation. Any surplus funds received beyond necessary income on an annual basis will be held as restricted reserves in the future to be used only for the charitable aims and objectives of the Hannah Memorial Academy Trust for the needs of the Hannah Memorial Academy, Darjeeling.
Adequate income from Individual Giving and existing savings in Hannah Memorial Academy Bank Account as previously stated were available for this financial year and future income from legacy donation in future years.
These sources are from individual giving by supporters of the Hannah Memorial Academy Trust, including Gift Aid, where appropriate and occasional fundraising charity challenge achievements such as cricket matches, marathons by supporters etc. As mentioned previously, this year we were generously provided with an unexpected legacy donation which we have declared above.
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The fundraising approach taken by the charity is that of reliance on individual giving by loyal supporters and the accompanying receipt of Gift Aid to maximise their donation impact where appropriate. This includes creative efforts by supporters in charity challenges suggested by and undertaken by them.
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There is no registration with the Fundraising Regulator to date.
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Fundraising activities are monitored by the Trustees and Gift Aid is also collected as appropriate. We share any charity challenge events and outcomes with our supporters in our occasional email newsletter and respect any un subscription requests if received.
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HANNAH MEMORIAL ACADEMY TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 15 FEBRUARY 2025
- As far as we are aware, no complaints have been received in relation to our fundraising practice.
A legacy gift from one of Hannah’s former schoolteachers was gratefully received in this financial reporting year of £285,000. This has been ethically invested with Paradigm Norton for the sole future benefit of the Hannah Memorial Academy to secure its future in educating underprivileged children in Darjeeling in Hannah’s name. We are still in the first year of this investment, so it is too early to report back on investment performance, but it has been safely managed in low-to medium risk accounts for medium to long-term investments for a secure and reasonable return in the future.
The main risks to the charity are currently regarding any financial risk inherent in the investment of the legacy gift which has been mitigated by agreement of the Trustees. It was agreed to reduce potential investment risks by the following actions:
The investment of the legacy to be referred to the care and management of Paradigm Norton, an experienced and ethical investment company which one of the Trustees had had prior positive experience with, and with which account representatives one of the Trustees met in person to undertake due diligence before reporting back to the Board of Trustees for final approval.
Agreement by the Board of Trustees that the investment had to be ethical in its oversight and to avoid high risk investment for better security of funds.
Agreement of a mixed portfolio in terms of return and timescale to best serve the purposes of the future income security of the Hannah Memorial Academy, bearing in mind the need to access funds over the short and long term for operational and capital costs that might exceed individual giving thresholds for any reason.
Agreement that short-term access to funds invested may be necessitated by fluctuating income or expenditure due to a downturn in regular individual giving donations within the UK due to the Cost-of-Living Crisis and/or the worsening socio-political economic landscape and continuing global uncertainty post-pandemic.
Agreement that short-term access to funds invested may be necessitated by fluctuating income or expenditure due to an external physical risk occurring to the school such as flood, landslide or earthquake, requiring rebuilding or repair which has happened in the past and may happen again in the future. Risk management of the financial investment are vested with the two Trustees most experienced in this regard acting as joint signatories to access funds - currently Roger MacLaverty (retired solicitor-LLB) and Ram Varma (accountantFCCA), although all Trustees formally signed off the investment agreement in order for it to proceed and due diligence checks were carried out by Paradigm Norton in this regard.
Trustee Meetings to be held with approval agreement from all the Trustees if the investment needs to be accessed for any reason as discussed above.
Attendance numbers: The number of children attending the school has dropped post Covid-19 Pandemic, as many families relocated to the larger cities to find work. However, we have seen a gradual increase in pupil registration which we are building on by increased recruitment, reaching more children in more villages, so no child is left without an opportunity to receive a free education at the Hannah Memorial Academy if they need it.
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HANNAH MEMORIAL ACADEMY TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 15 FEBRUARY 2025
Structure, governance and management
The trust is a company limited by guarantee . The Hannah Memorial Academy Trustees give their time for free and claim no expenses. They meet virtually for Trustee Meetings due to diverging locations. New Trustees are recruited via connection to the Hannah Memorial Academy, understanding of its charitable objectives and their available skillset, ensuring we have a competent mix of varied skills and experiences as a Board of Trustees as needed. New Trustees are referred to the Charity Commission guidance documents on Trusteeship.
The trustees who served during the year and up to the date of signature of the financial statements were:
C Browning C MacLaverty B Pattie J Higham R Varma R Maclaverty
Plans for future periods
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To continue to support the Hannah Memorial Academy to educate underprivileged children in Darjeeling, West Bengal, India.
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To continue to sponsor former Hannah Memorial Academy Students at Higher Secondary and on to University to achieve their full potential.
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Capital Works: Upgrades to buildings, grounds and school vehicle as required in the future as the Hannah Memorial Academy buildings are 17 years old, although some were repaired after the earthquake damage in 2011.
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Celebration of graduating students and celebration of the school on its 20th anniversary.
The trustees' report was approved by the Board of Trustees.
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C Browning R Maclaverty
Trustee
22 December 2025 Date: .............................................
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HANNAH MEMORIALACADEMY TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF HANNAH MEMORIAL ACADEMY TRUST
I report to the trustees on my examination of the financial statements of Hannah Memorial Academy Trust (the trust) for the year ended 15 February 2025.
Responsibilities and basis of report
As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the trust’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 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the trust’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Association of Chartered Accountants, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the trust as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Siobhan Glenister, FCA
5 The Square Bagshot Surrey GU19 5AX United Kingdom
Dated: 22 December 2025
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HANNAH MEMORIALACADEMY TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 15 FEBRUARY 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 315,168 | 8,972 |
| Total income | 315,168 | 8,972 | |
| Expenditure on: | |||
| Charitable activities | 4 | 47,120 | 21,327 |
| Total expenditure | 47,120 | 21,327 | |
| Net income/(expenditure) | 268,048 | (12,355) | |
| Other recognised gains and losses: | |||
| Other gains | 10 | 384 | - |
| Net movement in funds | 6 | 268,432 | (12,355) |
| Reconciliation of funds: | |||
| Fund balances at 16 February 2024 | 32,039 | 44,394 | |
| Fund balances at 15 February 2025 | 300,471 | 32,039 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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HANNAH MEMORIALACADEMY TRUST
BALANCE SHEET
AS AT 15 FEBRUARY 2025
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within 11 one year Net current assets Net assets excluding pension liability The funds of the trust Unrestricted funds |
2025 £ 301,491 (1,020) |
£ 300,471 300,471 300,471 300,471 |
2024 £ 32,039 - |
£ 32,039 32,039 32,039 |
|---|---|---|---|---|
| 32,039 |
The financial statements were approved by the trustees on 22 December 2025
R Maclaverty Trustee
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HANNAH MEMORIALACADEMY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 15 FEBRUARY 2025
1 Accounting policies
Charity information
Hannah Memorial Academy Trust was registered as a Charitable Incorporated Organisation on 11 August 2008 and is governed by its constitution formed under a trust deed.
1.1 Accounting convention
The financial statements have been prepared in accordance with the trust's deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The trust is a Public Benefit Entity as defined by FRS 102.
The trust 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 (Accounts 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 but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.
1.4 Income
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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HANNAH MEMORIALACADEMY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 15 FEBRUARY 2025
1 Accounting policies
(Continued)
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit 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 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 to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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HANNAH MEMORIALACADEMY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 15 FEBRUARY 2025
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
1.7 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the trust’s accounting policies, 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 estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying 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.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Donations and legacies | 315,168 | 8,972 |
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HANNAH MEMORIALACADEMY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 15 FEBRUARY 2025
4 Expenditure on charitable activities
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Direct costs | ||||
| Staff costs | 11,700 | - | ||
| Repairs & maintenance | 19,111 | 21,129 | ||
| Subscriptions | 216 | 198 | ||
| Transportation cost | 2,999 | - | ||
| Student sponsorships | 3,924 | - | ||
| Office costs | 4,650 | - | ||
| Professional fees | 3,500 | - | ||
| 46,100 | 21,327 | |||
| Share of support and governance costs (see note 5) | ||||
| Support | 1,020 | - | ||
| 47,120 | 21,327 | |||
| Analysis by fund | ||||
| Unrestricted funds | 47,120 | 21,327 | ||
| 5 | Support costs allocated to activities | |||
| Governance | Total | |||
| cost | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Accountancy | 1,020 | - | ||
| 6 | Net movement in funds | 2025 | 2024 | |
| £ | £ | |||
| The net movement in funds is stated after charging/(crediting): |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
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HANNAH MEMORIALACADEMY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 15 FEBRUARY 2025
8 Employees
The average monthly number of employees during the year was:
| The average monthly number of employees | during the year was: | |
|---|---|---|
| 2025 | 2024 | |
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10 Other gains and losses
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| Gains/(losses) upon: | £ | £ |
| Foreign exchange | (384) | - |
| Creditors: amounts falling due within one year | ||
| 2025 | 2024 | |
| £ | £ | |
| Accruals and deferred income | 1,020 | - |
11 Creditors: amounts falling due within one year
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HANNAH MEMORIALACADEMY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 15 FEBRUARY 2025
12 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 16 | Incoming | Resources | Gains and | At 15 | |
|---|---|---|---|---|---|
| February | resources | expended | losses | February | |
| 2024 | 2025 | ||||
| £ | £ | £ | £ | £ | |
| General funds | 32,039 | 315,168 | (47,120) | 384 | 300,471 |
| Previous year: | At 16 | Incoming | Resources | Gains and | At 15 |
| February | resources | expended | losses | February | |
| 2023 | 2024 | ||||
| £ | £ | £ | £ | £ | |
| General funds | 44,394 | 8,972 | (21,327) | - | 32,039 |
13 Related party transactions
During the year, the charity transferred funds to support its charitable activities in India. Due to restrictions in transferring money directly to India, the charity used an interim process whereby funds were transferred from the charity’s bank account to a trustee’s personal account and immediately onward to an individual holding an Indian bank account, who then transferred the funds to the school.
The total amount transferred via this method during the year was £45,500.
The trustee acted solely as an intermediary to facilitate payment and did not retain any funds or receive any remuneration or benefit. Full documentation of all transfers has been retained, including bank transfer confirmations and evidence of expenditure in India. The trustees consider that this method was necessary to ensure continuity of charitable work, but acknowledge it is not best practice. Procedures have since been strengthened and alternatives are being investigated.
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