Heron Educatlonal Foundation
Charity No. 1187969
Trustees. Report and Unaudlted Accounts
31 Marth 2022

Heron Educatlonal Foundation
Contents
Pages
Trustees, Annual Report
Independent Examinerfs Report
Statement of Financi31 Activities
Balance Sheet
Notes to the Accounts
Statement of Cash flows
16
Detailed Statement of Financial Artivities
17to18

Heron Educational Foundation
Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended
31 March 2022.
REFERENCE AND AOMINISTRATIVE DETAILS
Charity No. 1187969
Prlnclpal Office
Hill Farm House
Sproatley Roa
Flinton
East Riding of Yorkshire
HU114NE
Trustees
The followin8 trustees served durin8 the year-
C. Brazier CBE
F.A. Caley
F.P.A. Dudley
M. Havler
IResi8ned 18 June 2022)
D. Merrington Hoskins
M. Rilev
Key Management Personnel
Chair
M Havler
D Hoskins
F Dudley
C Brazler CBE
Vice Chair
Secretary
Treasurer
Accountants
MPH Accountancy
Rear of 9a
Westgate
Patrin8ton
East Yorkshire
HU12 ONA
Bankers
National Westminster Bank plc
Willerby and Kirk Ella
The Sqvare
Willerby
Hull
HUIO 7UA

Heron Educational Foundation
Trustees Annual Report
OBJEcfs AND ACTIVITIES
The Objects of thè CIO a￿.
for the public benefit to Provide assistance for the higher education by means of exhlbttions. or financial
assistance to enable beneficiaries to prepare for or enter a profession. trade or calling, otherwise promoting
the education lincludine social and physical trainingl ot boys and girls resident in the Parish of Humbleton.
The principal way in which these are achieved is through the provision of grants to children of the parish as
they reach key stages of education lentering Primary School, Secondary School and Universityl. In addition,
Trustees will consider applications from local schools for equipment or facilities that will beneftt children
from the parish.
We raise money to continue our work through rental income from our property in Humbleton as well as
interest on our bank accounts.
ACHIEVEMENTS AND PERFORMANCE
Over the past year. we have given individual grants of £275 and £125 each to two young people to support
their studies and a grant of £19 to provide leaving books for 4 students from Sproatley School.
Much of our work this year has again been focussed on our construction project which has Started to convert
the Old School into three 2-bed dwellings. build two 3-bed dwellin8s and refurbish the Old School House.
Once complete (estimated November 20221 this will give us six properties which will be let at affordable
rates in accordance with our Allocations Policy- which prioritises local people and those who are occupying
properties for the first tirne.
We have made considerable progress with the construction project again this year with the two new-build
cottages bein8 well on the way to completion11 Juty 20221 and work on the remalninB 4 propertles planned
to start in Aprillmay. Another very welcome event was the receipi of 3 separate grants from East Riding
Council1£170,0(Xil, Homes England1£15.8301 and the Withernwick Windfarm Fund1£5CUJI all being used to
assist wlth construttion costs.
FINANCIAL RÉVIEW
The Trust sold Heron's Farrn. Flinton in 2019 for £550.0(X). In accordance with Charity Commission direction,
this sum can only be used to purchase capiial assets lsuch as buildings and landl or for irbvestm@nts- it
cannot be spent on 8rants or maintenanceladministration. To that end, we have allocated £425,1)00 from
this sale to the dwellings element of the construrtion project and the remaining £I25,C￿0 to the Communlty
CentrelPavilion.
At the end of the year, we had £426,726 in our actount5 (Net Worth minus Fixed Assets) and had already
spent £54,000 on the Community Centre (drainage, utilities and planning permission). Following the various
globallpost-pandemic cost increases for construction, the total c05l of the dwellings element of our Project
IS jUSt over £1 million- a significant increase on last yearfs estimate of approximately £835.000. Trustee5
agreed to achieve this amount by increasing our ori8inal £425,￿0 to £465.c￿ plu5 £300,(X)O from an ERYC
CHF grant, £70,CM)O from an ERYC Commuted Sums grant and a 15 year loan of £200.OfX) from the Social &
Community Capital arm of the Natwest bank. All of ihese grantslloans have been approved and over half of
the total ha5 already been transferred into our accounts.
Once the dwelling5 are complete. we will have them valued to update our Fixed Assets figu￿. The market
value will be reduced by 20% because the ERYC CHF grant requires that they can only be rented or sold at
'alfordable' rates lie 80% of market value). On turrent plans we expect that the six dwellings will be worth
approximately £930.tMIO- although we have no plans to sell any of them.
Once the dwellings are occupied. we anticipate our net rental income I'affordable, rates minus management
charge51 from all Six properties being £30.5CN) pa. This will enable u% to repay our loan and to increase our
grant-giving in accordance with our plans above.
We have no formal Reserve5 Policy. We always intend to have no less ihan £25,OW in our accounts with a
minimum of £5000 available immediately in case of urgent requirements {eg repairs). Should WÈ need to

Heron Educational Foundation
Trustees Annual Report
PLANS FOR FUTURE PERIODS
We expect the next 6 months to be taken up with overseeing the completion of the constnthction project and
the occupation of our new properties-the first 2 in July and the remaining 4 in November/December. Once
occupied, we will begin to rebuild our financial reserves, repay the loan and start to focus on Phase 2 of the
project which will involve the building of a new Communtty CentrelPavilion for the village close to the Trusvs
six dwellings.
The profit ihat we exp@ct to generate from our new propèrtios will also enablè us to increase the amount
that we provide to local childrenlyoung people to enable them to reach their full potential. As well as our
current grant5, we anticipate being able to provlde more targeted land potentially life-¢han8in81 amounts to
support the transition from education and inlo employment. We expect that these might include university
fees, apprenticeships. professional qualifications leg HGV. AATI. tool purchases and business start-ups.
STRUCTURE, GOVERNAhtCE AND MANAGEMENT
Heron Educational Foundation is a registered charitable incorporated organisation ICIO- 11879691 and Is
constituted under a Foundation model constitution dated 14 February 2020. The Trusl was originally
established in 1718 by the will of Francls Heron to provide assistance for the higher education of chlldren
Ilvlng in the parish of Humbleton.
The constitution allows for a mlnimum of 3 and a maximum of 9 Trustees. A quorum 15 achieved when 50%
(rounded upl ale in attendance. There is no restrictlon on residency or profession of Tnjstees although it 15
normal for all Trustees to have some connectlon (through resldency or family) to Humbleton or the
surroundlng parishes.
We hold Trust meetSngs every month and have added a Construction Project rneetln8 2 weeks after the Trust
meeting to deal with the many issues that arise as we work through the various process to finance, specify
and oversee the project. We have appointed a Project Sub-committee (consistin8 of the Chair, Secretary and
Treasurer) to deal with day-to-day matters. The SuKommittee is authorised to spend up to £IO,OCK) without
reverting to the full Trust meeting for approval.

Heron Educational Foundation
Trustees Annual Report
Statement of trustees, responsibilities in ￿latiOn to the financial statements
The charity trustees are responsible for preparing a trustee5' annLbal report and financial statements in
accordance with applicable13w and United Kingdom Accounting Standards Iunited Kingdom Generally
Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and to enable them to ensure that the financial statements
comply with the Charities Act 2011. the applicable Charities IAccounts and Report51 Re8ulations, and the
provi5tons of the Trust deed. The Trustees arè also responsible for safeguarding the assets of the charity and
hence taking reasonable steps for the prevention and detection of fraud and other irreBularities.
Si8ne
on behalf of the charity's trustees
C. Bra2ier
Trustee
03 August 2022

Heron Educational Foundation
Independent Examiner5 Report
Independent Examiner's Report to the trustees of Heron Educatlonal Foundation
I report to the trustees on my examination of the financial statements of Heron Educational Foundation for
the year ended 31 March 2022 which comprise the Statement of Financial Attivities, the Balance Sheet. the
Statement of Cash Flows and the related notes.
Responsibilities and basi5 of report
As the chority's trustees you are responsible for the preparation of the financial statements in accordance
with the requirements of the Charities Act 20111.the Act'l. The trustees consider that an audit is not
required for this year under the Charitie5 Act 2011, s.144121 Ithe 2011 Act) and that an independent
examination is needed.
I report Sn respect of my examination of the charity's financial statements carried out under section 145 of
the 2011 Act and in carrying out my examination I have followed all the applicable DI￿rtiOnS given by the
Charity Commission under section 14515llbl of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in
connertion with the examination giving me cause to believe that in, any material respect..
the accounting records We￿ not kept in respect of the charity as required by sectlon 130 of the Act,. or
the financial statements do not accord with those records- or
the financial statements do not comply with the applicable requirements concerning the form and
content of the ftnancial statements set out in the Charities IAccounts and Reports) Re8ulations 21Y)8
other than any requirement that the financial statements 8ive 8'true and fair, view which is not a matter
considered as part of an independent examinatlon.
I have no concerns and have come across no other matters in connection wtth the examlnation to which
attention should be drawn in this report in order to enable a proper understandln8 of the financial
statements to be reached.
Shannon Smith
MAAT ACCA
MPH Accountancy
Reaf of 9a
Westgate
Patrington
East Yorkshire
HV12 ONA
03 August 2022

Heron Educational Foundation
Statement of Financial Activit
for the year ended 31 March 2022
Unrestrirted
funds Total funds Totsl funds
2022
2022
2021
Note5
Income and endowments
from:
Charitable activities
Other trading activities
Investments
Other
2￿)
1.627
191,615
2LM)
1,627
191,615
2¢X)
4,452
45,600
Total
193.444
193,444
50,254
Expend5ture on:
Other
61,807
61,807
43,811
Total
61,807
61,807
43,811
Net gains on investments
349
349
683
Net income
131.986
131,986
7,126
Transfers between funds
Net income before other
8ainslllossesl
131,986
131,986
7,126
Other galns and losses
Net movement In funds
131,986
131,986
7,126
Reconclliation of funds:
Total funds brought forward
810,085
810,085
Total funds ¢arrled forward
942.071
942,071
7,126

Heron Educatlonal Foundation
Balance Sheet
at 31 March 2022
Charity No. 1187969
2022
2021
Fixed assets
Investments
519.920
519,920
248,704
248,704
Current assets
Stocks
Cash at bank and in hand
io
i(KJ
567,281
567,381
16,0001
561.381
422,751
422.751
16CK)I
422.151
Creditors: AmoLtnt falling due withln one year
Net current assets
li
Total assets less current IlabS1ities
Net assets exduding pension asset or Ilabillty
Total net assets
942.071
810,085
942.071
810,085
942,071
810,08S
The funds of the charlty
Restrlcted funds
Unrestrlcted funds
General funds
12
12
941.722
810,085
941,722
810,085
Reserves
Revaluation reserve
12
349
349
Total funds
942,071
810.085
Approved by the trustees on 03 August 2022
And signed on thelr behalf by..
M. Havler
Trustee
03 August 2022

Heron Educational Foundation
Notes to the Accounts
for the year ended 31 Marth 2022
l Accounting policies
8a5is of preparation
The financial statements have been prepared in accordance w¢th 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 if Ireland IFRS 1021 issued on 16 July 2014 and the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the
Charitie5 Act 2011.
Change in basls ot accounting or to previous a¢¢ounts
There has been no change to the accounting policies (valuation rules and method of accounting) Since
last year and no changes have been made to accounts for previous years.
Fund a¢¢ountin8
Unrestricted funds
These are available for use at the discretion of the trustees in fLSrtherance of the
general objects of the charity.
These are unrestricted funds earmarked by the trustees for particular purposes.
These ore unrestricted funds which include a revaluation reserve representing the
restatement of investment assels at their market value5.
These are available for use subject io restrictions imposed by the donor or through
terms of an appeal.
Designated funds
Revaluation funds
Restricted funds
Income
Recognillon of
income
Income is included in the Statemenl of Financial Activities ISOFAI when the charity
becomes entitled to, and virtually certain to receive, the income and the amount of
the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is
expenditure
reported gross in the SOFA.
Donations and
legacles
Voluntary income received by way of gr¥nt5, donatlons and 81fts is Included in the
the SOFA when receivable and only when the Charity has unconditional entitlement
to the income.
Tax reclaims on
Income from tax reclaims is included In the SOFA at the same time as the
donations and gift5 giftldonation to which it relates.
Donated services
These are only included In income Iwith an equivalent amount in expenditure)
and facilities
where the benefit to the Charity is reasonably quantifiable. measurable and
material.
Volunteer help
The value of any volunteer help received is not included in the accounts.
Investment income This is included in the accounts when receivable.
Gains/llosses1 on
This includes any gain or loss resultin8 from revaluing investments to market value
revaluation of fixed at the end of the year.
assets
Gainslllossesl on
investment assets
This Includes any gain or loss on the sale of investments.

Heron Educational Foundation
Notes to the Accounts
Expenditure
Recognition of
expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which
cannot be fully recovered, and ￿ reported as part of the expenditure to which it
relates.
Expenditure on
These comprise the costs aswciated with attracting voluntary income, fundraising
aising funds
trading costs and investment management costs.
Expenditure on
These comprise the costs incurred by the Charity in the delivery of its activities and
charitable activitie5 seryices in the furtherance of its objects. includin8 the making of grants and
governance costs.
All grant expenditure is accounted for on an actual paid basis plus an accrual for
grants that have been approved by the trustees at the end of the year but not yet
paid.
These include those costs associated with meetin8 the constrtutlonal and statutory
requirements of the Charity, including any auditlindependent examination fees,
costs linked to the strate8ic management of the Charity, together wlth a share of
other administration costs.
These are support costs not allocated to a particular activity-
Grants payable
Governance c05t5
Other expenditure
Taxatlon
The ch3rlty Is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured inltlally at cost and subsequently at fair value at each balance sheet
date and are not depreciated. All gains or10sses are taken to the Statement of Financial Activities as thev
arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at falr
value which is the amount the charily would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offèred.
Prepayments are valued at the amount P￿paid net of any trade discounts due.
Cash and Cash equivalents
Cash and cash equivalents cownpri5e cash at bank and on hand. deffland deposits with banks and other
short-term highly liquid investment% wrth original maturtties of three months or less and bank overdrafts.
In ihe Statement of flnanclal posltlon, bank overdrafts are shown within borrowings or current liabilities.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are
repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction pri￿. Other credftors and provisions are recoenised
where the charity has a present obligation resulting from a past event that will probably result in the
transfer of funds to a third party and the amount due to settle the obligation can be measured or
estimated reliably. Creditors and provisions are nomially reco8nised at their settlement amount after
allowing for any trade discounts due.

Heron Educational Foundation
Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is inCur￿d.
Foreign currencies
Monetary assets and liabilitie5 denominated in currencies other than the functional currency of the
charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions
in currencies other than the functional currency of the charity are recorded at the rate of exchange on
the date that the transaction occurred.
All exchange differences are are tsken into attounl in arrivin8 at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taklng substantially all the risks and rewards of
ownership of an asset, the lease 15 treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classif4ed
as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the
inception of the lease or, if lower. at the present value of ihe minlmum lease payments. The
corresponding liability to the lessor is Included in the balance sheet date as a finance lease obliBation.
Lease payment5 are apportioned between finance expenses and reduction of the lease obllBation so as to
achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are
recognised immediately. unless they are directly attributable to qualifying assets, In which case they are
capitalised in accordance with the charity's policy on borrowin8 Costs.
A55ets held under finance leases are depretiated in the same way as owned assets.
OperatlnB lease payments are reco8nlsed as an expense on a straight-line basis over the lease term.
In the event that lease Incentives ale received to enter into operating leases, such incentives are
retognised as a liability. The aggregate benefit of Incentives is recognised a5 a reduction of rental expense
on a stralght.line basis.
Recelpt of donated 8oods, facilities and servlces
All donated 8oods, facillties and servrce5 received are rec¢ydnised within incoming resources and
expenditure at an estimate of the value to the charity.

Heron Educational Foundation
Notes to the Accounts
2 Statement of Financial Activities- prlor year
Unrestricted
lunds Total funds
2021
2021
Income and endowments from:
Charitable activities
Other trading activities
Investments
Other
200
4,452
45,600
2CK)
4,452
45,6
Total
50.254
50,254
Expendlture on:
Other
43.811
43.811
Total
43,811
43,811
Net gains on investmen15
683
683
Net income
7,126
7,126
Transfers between funds
802,959
802.959
Net Income before other
8alnslll¢ssesl
Other 8alns and losses:
Net movement in funds
810,085
810,085
810,085
810,085
Reconciliation of funds:
Total fund5 Carrfed forward
810.085
810,085
3 Income from Charitable activities
Unrestrlrted
Total
Total
2022
2021
YÉDL Wayleave
4 Income from other tradln8 actl¥ltles
Unrestrfcted
Total
Total
2022
2021
Humbleton Recreation Club
21x1
2CM)
200
2C(I
2(J)
200

Heron Educational Foundation
Note5 to the Actounts
5 Income from investments
Unrestricted
Total
Total
2022
2021
COIF Dividend
120
120
89
Bank Interest Received
1,507
1,627
1,507
1.627
4,363
4.452
6 Other income
Unrestrlcted
Total
Totsl
Z021
2022
School House Rent
785
785
5,668
loo
Sundry Income
Grants
I￿.830
191,615
I￿,830
191,615
39,832
45,600
7 Other expendlture
Unrestrkted
Total
Total
2022
2021
Awards and Grants
419
419
I,ioo
1,039
306
Premises costs
157
157
General administrative c05tS
148
LeBal and professional costs
61,083
61,807
61.083
61,807
41,366
43,811
8 Staff costs
No employee received emoluments In excess of £60,CW.
9 Investments
Freehold
Other
investments
Unlisted
Investme
Property
Total
Cost or revaluatlon
At l April 2021
Additions
Revaluation
At 31 March 2022
Net book values
At 31 March 2022
244,678
270,867
4,026
248,704
270,867
349
519,920
349
515.545
4,375
515.545
244.678
4,375
4,026
519,920
248.704
At 31 March 2021

Heron Educational Foundation
Note5 to the Accounts
10 Stocks
2022
2021
Raw materials and consumables
100
11 Creditors:
amounts falling due within one year
2022
2021
Accruals
6,0(X)
12 Movement In funds
Intoming
resources
Ilncluding
other
At l April Balnsllosses
2021
Resources
expended
At31
Marth
2022
Restrfrted funds:
Unrestrirted funds:
General funds
810,085
193,444
161,8071
941,722
Revaluatlon Reserves:
Revaluation fund
349
349
Total revaluation reserves
349
349
Total lunds
810,085
193.793
161.8071
942,071
Purposes and restrictions in relation to the funds-
Revaluation reseNes
Represent the amount by which Investments exceed their historical cost.
13 Analysls of net assets between funds
Unrestrirted
funds
RestrSrted
funds
Totsl
Investments
Net current assets
4,375
422.151
426,526
515,545
519,920
422,151
942,071
515.545

Heron Educational Foundation
Notes to the ￿(O￿nts
14 Reconciliation of net debt
At31
March
At l Apryl
2021
Cash flows
2022
Cash and cash equivalents
567.281
567.281
1144.5301
1144,5301
422.751
422,751
Net debt
567.281
1144.5301
422,751

Heron Educational Foundation
Statement of Cash flows
for the year ended 31 Marth 2022
2022
2021
Cash flows from operating activities
Net income per Statement of Financial Artivities
131,986
810,085
Adlu5tfflents for:
Dividends, interest and rents from investments
Decreasellincreasel in stocks
(Decreaselllncrease in tr3de and other payables
1193,2421
IINJ
15.4(X)I
150,0521
11001
6,000
Net ¢ash (used Inllprovided by operatln8 •rtivities
166,5561
765,933
Cash Ilows from InVe￿ing actlvltles
Payments for investments
Dividends, Interest and rents from investmenls
1270,8671
193,242
50,052
Net cash used in Investing artlvltles
177,6251
1194,6261
Net cash from financing actlvltles
Nei Idecreasel/lncre•se in cash and cash equl¥alents
{144,1811
571,307
Cash and cash equlvalents at the beglnning of the year
567,281
Cash and cash eqUI￿lentS at the end of the year
423.100
571,307
Components of cash and cash equivalents
Cash and bank balances
422.751
567,281
422.751
567.281

Heron Educational Foundation
Detailed Statement of Financial Activities
for the year ended 31 March 2022
Unrestrirted
lunds
Totsl fvnds Total funds
2022
2021
2022
Income and endowments from:
Charitable activilies
YEDL Wayleave
Other trading activities
Humbleton Recreation Club
200
2CKJ
2CK)
200
200
200
Investments
COIF Dividend
Bank Interest Received
120
1,507
1,627
120
89
1,507
1,627
4.363
4.452
Other
School House Rent
Sundry Income
Grants
785
785
5,668
loo
39,832
45.600
19),830
191,615
190,830
191,615
Total Income and endowments
193,444
193.444
50,254
Expenditure on:
Other expenditure
Awards and Grants
419
419
419
1,100
1,100
419
Premises costs
Rates
3GO
360
14751
Premises repairs and
maintenance
Other premises Costs
1,091
13031
157
13031
157
423
1,039
General administrative costs.
including depreciation and
amortisation
Staiionery and printing
148
148
148
306
306
Legal and professional costs
Atjditlindependent examination
fees
Management charges
Other legal and professional
costs
21))
21XJ
2(M)
81
81
729
60.802
60.802
40,437
61.083
61,083
41.366

Heron Educational Foundation
Detailed Statement of Financial Arti¥ities
Totsl of expenditure of other costs
Totsl expenditure
Net gains on investments
61,807
61,807
43,811
61,807
61,807
43,811
349
349
683
Net income
131,986
131.986
7,126
Transfers between funds
802,959
Net income before other
galns/l1055esl
Other Gains
131,986
131,986
810,085
Net movement In funds
131,986
131,986
810,085
Reconclliation of funds".
Total funds brought forward
810,085
810,085
Total fvnd5 carrled forward
942,071
942,071
810,085