2025-03-31-accounts

Heron EthXatlC￿al F￿￿JaIl0n Charlty No. 1187969 Trustees, Rew)rt and Unaudlled Accounts 31 March 2025

Heron EdLKalional Foundalicwi Contents Tnjstees. Annual Report ndependent Examlnerfs RepMNt Slalement of FIna￿al P£tlvllSes Balants Sh*1 Slalement of Cash flow5 15to18 Notes lo Ihe AccO(￿t$ Detailed Stalemenl of FInar￿la1 ktNltie5 12to14 Page I

Th8 tru3tees present thelr Yeportwlth the unaudrted financial 3tstements ofthe charityfortheyear 8nd8d 31 March 2025. REFERENCE ANDADMINISTRATIVE OEfAILS Chority No. 1187960 Prln¢lp•l Olfi¢• Hill Fami House Sproatley Road Flinton East Ridiniof Yotk8hiTe HU114NE Tru•tM• The tollowln8tru8tee8 #eNed duringthe year.. C. Br8zler CBE F.A. Calgy M. H8vler D. M•rrlnoon-Hogklng M. Rll•y P. Fafrar K•y M•Tr•g•m•nl Pw•ol￿1 Chalr Vlce Chalr Tr0•8urer M H8vl•r O Merrln8ton-Ho8knn8 C Br8zl8r CBÉ A¢¢oufflant• M P H A¢count8n¢y 18t Floor Manor House Main Road Ryehlll E83t Yorkshire HU12 gNH Bank•r• N8tional Wtstminster Bank pic Willerby and Kirk Ell8 The Souare Willerby Hull HU107UA P8ge 2

TrUBl￿ AnnualReport OBJECTIVESAND ACTNMES The Objects of the CIO 8fe: 'lorth8 publi¢ benefitto pwde a88istsnceforthe hi0lgre(fv￿fltsn ljy mean8 of gxhibition8. orfinan¢i•l 8$818t8nce to enable ben6ftiariestO Pf8P8re foror &nt8r 8 protsssion. tr8de or ¢allin& othèThAsg promotlnqthe educatlon lincludlng soci8Land physicaltraininil of boys and Ort8 resident in the Parish ot Humbleton.. The principalway in which these are achie¥Ed is throLtgh the provision of grants to children of the pari8h as they reach key stages of education (entering Primary School, SeLond8ry School and Universtyl. In addrtion. Trustees ￿lIcOn￿lder 8pplication8from local 8choo18 forequipment or faciliti03 that will benefitchildren from the parish. We rai88 moneyto continue ourworthrough rentsl income from our propertl&8 In Humbleton 48 w81188 intsrast on ouf bank aceounts. ACHIEVEMEPItsAND PERFORMANCE Owr the p8¥tyoar. we h8¥t twtrtty one indlvldu•ly•nts Iwhkh wo ¢all'bur88rl¥8'1 to youn4peopLe tot8lllnq £5250to supportthelr 8tudle8 88 welLg$don8tlon8 of £505to Spro8tleySchool. Th18 totol 1$ an Incr•ase of £1000 ort 188ty88r Iwhich wa$ far in $xc¢$$ of any other yèar in ieeenttlm8s1 and r¢ft8Ct$th8 Tru8te68' gre8tsrllnancl8leonlbdonce Oven our estAbllshed Income from our rentaLpropertb88 08welL 88 è continued improvement in awareness oltheTrust's existence. We antlcip8teth8tour newly 8st8bli$hed website Iwww.h8ron-odu¢8tional-found8tion.or&ukl willlurther enhancè thi8 in the comlng yoar. In tem18 t>1 OUT pro￿rtio8. vts have slx Ithre8 2-bed8, &bod$ & one bedl whlch aro let at offordgble r•t•s In accord8￿e wrth ovrAllocJtions Policy-which priorit18e8 local people and thoje who ère occupylng prop8rt18$ for t￿ Ilrst tlm•. Fl¥9 hwe begn Occup1￿ forthe wttole olthl$ perlod ènd one W88 vacant forthe 188t 3 week8: the property wfiil b& I8￿cUpIed vAthln 6 weeks. In 8dOlllon to tho expected level ot routine propetymaintenancetasks, this year saw a higherthan lorac8￿ numb•rol PO8t<onructlon defect8. mostly reiatlngto hotwater8y8tsm8. Vlhlist stllla concem. we remaln Incroa$lngiyconfldentthatwe have found è c08t-off•ctfvo 8oiution tothl8188ue &lthouKh th8 888oclated costgwiII ho￿ gome Imp8et on our bLbd8¢1 forihe eomingy•gr. D8sprte thls. %¥• contlnue to b¥ onormou8ly pioud ol wh8t w• h8v• a¢hiw•d ov•rthe past a￿ar$ and th¥ drllerenc&th8tthl$ 1$ m8Wng tothe Long4emi prospects foriho charbty. ourten8nts andthe¢hlldr•n ol ourvlU88•9. FINANCIAL REVIEW 1118 Worth once ag8ln rewelvlngthe Si￿￿1c8ntfinanc1al actb4ltyo￿11h0 pa8tSyear3 that h88t8ken th& Trust fmm 2 properti8$8nd ¥¢ry Ilttie 8blbtyto provlde grantsto ourcurrent. much Improved, flnAnclaL po$ftlon. In 2019. theTiu $old Heron's Fami, Fifinton for£550,0￿. In accordance wlth CharSty Commlsglon directlon, thl¥sum Could onty b8 u8ed to purch89e capltsl aggets (such ￿ bulldlngs and landl or for InveStM￿t$ ft could not bg spant on grants or malntsnanc8ladmlnlstratlon. To that ond, we had origln8llyallocated E425,IJOOfrom this sale to the dwelllngs element of the constructlon project and the rom8lnlngio the Cornmunlty Centr&P8¥ilion. A8 de8crlbod wrhovth•r. Ih0 rl8lngcost of construction me¥nt that we used •LI ofthe £5S0.0￿ plus 8nothèr£3O3.(J)Ool our own money lincluding E200,000 bank loan repaygble over 15yearsl on compietingthe 6 dwellings ond thereby giving theTru8t a much more x)lid tinancial b8yeon vthich to build forlhe ftrturn. Ihe Ch&11t￿CommIs$10n directlon hastheiefora been $8tisfi8d. bUtw￿ have considor8bty loss capltsl 8v8i18bie thèn we had intended when we started constructlon. That 98ld. now that the ¢*wellings element Is complete land with approximately £70.000 alrea(ty inve￿ed inlundam8ntalelementsolthe Communitycentre-auctt 88 (rtilities ¢onnections, planning pemii88ion. parkingetcl, the Centre isthe next priorityfor us and we are actively lookingforways ol m$kingrt a reality-perhap8 in the ne¥t￿l or. moro likoly. in FY2026127. Pa￿3

Trugt•u Anny•lReport In thtr pastyear. refi8ciingth8 localand nationaL1w￿90$ in rentsi prices. we iiKr89g•d ourr&nts by an average of 5%. As a result. Mth all 6 of the homeS0￿upI￿d. our net rental income I'offofd8blè' rat88 minus monagement charges) from all six properties is £38.Cth pa. This Is enab￿n8 us to repay our loan and to continuo ourgrant-8iwngin accordAncÈwththe paragraphs obo¥8 8nd our obje¢ts. We hav8 no formal Reserves Poll￿. We 8Iw8fd irtend to have no 18gsth8n £25.0￿ in our accounts wlth a minimum of £50￿ available immediately in ￿se of urgent requirements leg repalr81. Should we need to reduce eitherol the8¢fi￿re8. theTrustees will be ask￿ tO8ppro¥e the reductlon. PLANS FOR FUTURE PERIODS Asforecast ts8tJwr. we h84 bggunto 81(ywty rebuild our flnanelal rn8oNo8. ¢ontinu8to r8payth• b8nk loan and arè swrlching our focus to Phase 2 of th& probctwhich Involve th8 bullolndof a new CommunityCenirelP$vilionlof th8viilage close to the Trust'$ six dwelling8. We coniinue io lookforway8 oflln8n¢ingthis important ¢ommunty as8et bLrt W4wait announc•mtnt8 from the Government on 8 8r8nt Strate￿ that wlll PrO￿de resource$lof thi8type of project. Whllg w8 Wati. wo continue to monitor other potentl81 grant opportunltie$ le.g. N8tlon•l Lottery. Sporting Bodles. Loc81 development Grants) and remain r¢8(tyto begin construction within tpneks 8hould lunding m•rf81i80. A8 noted In our Achievemants P8r88raph8. the profft thai w8 84ner•t•d from ournew propert￿9 ¢ombln•(J with more eff&¢t￿8 publiclty has en8blod ua to incre￿8 the omountthat wo provide to local childr•nfyoung t)eople to enBbL¢ them to reach thelrluLI pot¢nti81. We aim to conUnue at Wt ye8T'3 l¢vel8 forth8 comlng year but ara stlll •ble to provlde more iaf8&ied land potentlally Ilf8-ch8ngln8) èmounts to 3upportthe transition Irom educ8tlon and into employment Should the light opportunbty an¢J •pplicant arije. STrUCTVRE, OOVERNANCE AND MANAOEMENT Horon Educatlon81 FounO8tlon 1$ a registered charitable In¢orpor8ted organisatlon (CIO- 11879691 and18 con8tituted under • Foundation mod81 constrtutiort dated 14 February 2020. The Tru8t w83 orlginally est8bli$h*d in 1734 bythe wbll of Franc18 Heron to proylde •881ot8ncg forthe hikn8r edu¢8tlon ol chlldren lfvln8 In Iho paf08h ol Humbloton. Th• con8tltytlon 8IIMlor • mlnlmum of 3 and a maxlmum 019 Tru#tee¥. Aquorum Is achlo¥•d vth•n 50% (Tounded upl are In •ttend8n¢•. There Is no restn"ctlon on re$idoncy OT profession ol Tru8ta88 although it 18 normal forallTru8t8•S to hav¢ ￿rne connection (through r¥gld•n¢yortsmllyl to Humbleton of the surroundlng porl8he& W& hold Trust meetinqg overy month. Poge 4

H*mi Educational FO￿￿0110￿ The charitytrustees are r¢$poft¥ible t¢r pre￿11n88t[U3l88J, 8nnual reportand financial statsment8 in accordancewith applicable LiwaThl Unlted ￿figdOm Aecouniingstsndards Iunlted Kingdom Generally Acc&ptedAccountlng PractKel. The trustses are responsibi8 lor ke8plng proper ￿CountIng record¥th81 di8Cto¥8 with rea8on8bie 8ccur8Cy at anytime the financial position ofthe charity and to enable them to ensureth8t th& finon¢i8L statgments complywith the Charr¢iesAct 2011. the applicable Charftias (Accotsnts and R&portsl Rggul8tlon8. and tho provisitins oftheTwst deed. TheTrustees are also regponsiblefor gafegu8rdlngth6 assets ofthe ehortty and hertcetaking reg￿n￿ble Steps torthe pr￿ntiOn and detection of fraud and other irregulariti'es. Signed on behaitofthe chwtyg tru8t888 C. Brazl•r Trust•8 17 N0￿mbar 2025 Page 5

Heron Educational Foundation Independent Examlners Report Independent Examlner's RetKffl to the trustees of Ed￿31th31 Fomjndation I repJrt to the truslees on my examlnal1r￿ (rf tPe fInar￿181 stateFwIts of Heron Ed￿tIonal Foundallon f the year ended 31 March 2025. Responsibllitles and basis of reiMNt As the charlws tr￿stee$ yw ￿ re4xYsiUefLY weparatlon Of￿ flnanclal staterr￿tS In accordatxe th the requlrements of the Charttles 2011 fil Act'l. I reF)Jrt In reS￿t of my examination of ItEthFity's financial State￿thts cwried wt undersecllon 145 of the 201 l Act and In carryng out my exam1nal1L￿ I have folloEd all the appqkable tMre¢tkns glven by Ihe Charlly COMMI￿(￿ undw seclkm) 14515)(b) of Il kl. lThYependenl examlner'5 5talernenl I have compleled my examina11￿. I can confirm thal ￿ material matters have CO￿ to my atlenllon In COnr￿clI0￿ ￿th the examInatl￿ glvtng me cause to belleve that In any malerlal resreci.. the accountlng records were r￿t kept In resw of Ihe charlty as rewlred by SLxII(M 130 of tt Acl. or the flnarKlal slatemenls th rM)l ￿CC￿d ￿ttt IIM)se rLvxds' ¢x Ihe flnarKlal slalemenls th rKJl cC￿pIY wllh the applk3ble requlremenls the forni and conlenl of flnanclal slalemenls sel (KJI In the Charltle5 (knunls aThJ ReF*Jrts) Regulallons 2(M)8 other than any requlremenl Ihal Ihe flnarKlal slalemenls gfve a'lrue and falr, vlew Is nol a matter con5Klered as part of an Independent examInall￿. have no corKems a￿1 have come ￿(￿$ Th) other matters In caN￿ClI0n wlth the examlnallon lo vthlch allen11c￿ sI￿ukI be drawn In thls repyt in ￿der lo enable a PTCW uTrJerstaTrJSTh3 of the flnanclal slalemenls lo be reached. ShannM Smlth MAAT FCCA M P H Accountafv 1st Floor MaTh)r Fknuse Maln Road Ryehlll East Yorkshlre HU12 9NH 17 November 2025 Page 6

Heron £ducalional fwndation statement of FinarKial ktivities for the year ernled 31 March 2025 Unre5trlcted furnls Total funds Total funds 2025 2025 2024 Notes Income and endowments from.. Charllable acllvltles Other Iradlr¥J aclivltles Investments Other 2(XJ 2.102 89,682 2,135 43.376 2,135 43,376 Total 45,713 45.713 91,986 Expendllure cm.. Other 33,609 33,6CI4 33,609 38.768 Total 33.6C 38,768 Nel galns on Investments Nel Income 12,104 12,104 53,218 Transfers between funds Nel Income before other galns/llosse5) Other galn5 and105ses Nel moveffenl In funds 12,104 12,104 53,218 12.104 12,104 53,218 Reconclllallon of luThJs'. Total furKls brou￿1 forward 1.033,924 1,033,924 9￿,106 Tolal fun(ts carrled fmiaTd 1,046.028 1,046,028 1,033,924 Page 7

Heron Educaliijnal Foundation Balance Sh￿1 at 31 March 2025 Charity No_ 1187969 2025 2024 Flxed assets Inveslments 1,152.216 1.152.216 1.152.216 1,152.216 Current assels Sl(Kk5 Cash at bank and In hand 10 412 69,687 70,(Y)9 (10,879) 59,220 1.211.436 {165,4CA) 1,046.028 412 68.481 68,893 (8.8621 ()0,031 Credllors.. An￿nI falllNJ due w41hln one year Net current assels Total assets less current Ilaljlllles 1,212.247 1178,323) 1,033,924 Credllors.. Amounts falllr¥J due after mcye than one year Net assets exdLKllrq penston asset (Y Ilablllly Total nel assets 12 1.046.028 1,033.924 The furKJs of the tharlty Restrlcled funds Unrestrlcted funds General furKis 13 13 1.046.028 1.046,028 1,033,924 1,033,924 Reserves 13 Tolal fur#Js 1.046.028 1,033,924 ApprcNed by the t￿￿tee5 C￿ 17 November 2025 And slgned on Ihelr behalf ty.. M. Havler Trustee 17 November 2025 C 8razier Treasurer Page B

Heron Educational Fi)undation Notes to Accounts the year efKJed 31 March 2025 1 Accwntlng pollc Basls of preparatlon The flnanclal statements have teen wwed h) ￿￿da¥Ke wlth Strten￿l rf R￿MMended Practlce". Accounllng and Rep￿11￿ by Charllles preparlThJ Ihelr accrmjnts In ￿th the Financial Rewrtlng Standard applicable in the UK a￿1 Republlc If Ireland (FRS 1021 16 Juty 2Q14 and the FIna￿l81 ReFM)rtlThJ Standard aFWKable in Ihe United Kingjom arKI RewblK of IrelarKI {FRS 10213fKI the Charlties Act 2011. Change In ba&s of KcounliThJ CK to wevkKLS acc(Amts Thefe has Lwi no charKJe to the ￿)untI￿j wlkles (valuation rules a￿] me11K￿ of &cwntlr#J) slnce last year aThl Th) chaw have ten made to ￿C(￿lS previJJ5 ye&s. Fund accounting Unrestr￿ed funds These are avallable for L￿e al the dknetkjn of the In￿tee5 In frjrtherance of the general objects of the charlty. Deslgnaled fwrfts These are unresldcled fun(ts eannarked by the tr￿leeS for partlcular wrp05es. Revaluall(￿ funds These are unreslrlcled funds Nthich Ir￿1￿Je a revaluatlon resefve representlng the lalemenl of Investment assets al Ihelr mafkel values. These are avall8ble fN use subj￿1 lo restrlclk)ns Im￿Sed ty ttr dorKX or through Iwms ofan apFeal. Restrlcted fur¥Js 1￿C￿e Reccwblllon of I￿￿￿15 I￿luded In the Statement of FIna￿l Actlvltles ISOFA) the charlty t¢LOm￿ enlltled to, and vlrtualty certaln to fecelve. the IlKc￿￿ and the amount of I[￿orne ￿ be measured wllh gjfflcknt rellablllty. Income wlth rdaled Where I￿Ome has felaled ex￿￿￿￿tUre ltr Ir￿Orr arKI related expendlture Is expendllure reF(x1￿1 gross In the WA. Donallons aNJ legacles Vdunlary Irm r￿e￿￿d by way ofwants. donatlons aTha glfts Is IrKluded In the trÉ SOFA %%twi rttefvable aTrJ only It Chartty has Un￿d1th)nal entlllement lo the Or￿0￿￿. Tax reclalms on IrKorr from tai reclalms Is InclLthd In tre WA at Ihe same tlme as the donallons and glfts gIftIdc￿t1￿ to ￿lch it relate5. Donated servlces These ￿e only lrfluded In I1￿orne {wlth an equlvalenl anyjunt In expend1lu￿) atxl facllllles vthere tt bertfit to Ite Charlty Is reakwbty quanllfiab￿, meagjrable and material. Volunleer help The value of volunteer help r&reTr￿J k5 I[￿luded In the accryjnts. Investment IrKome ThLs Is ITKluded in tl acccAmls then rKeNable. Galnsl{losses) Thls any galn (ff k)ss rewlllr¥J from rWd1u￿ Investments lo market value revaluallon of fL¥ed at the eTrJ of the year. ssets Gèlnslllosses) (x) Investmenl assets Thi8 ir￿lUdeS anygaln or th on the sale of trNestments. Page 9

Heron Ed￿tional Foundal Notes lo the Accounts Expendlture R￿ognitIon or expthilure ExFendlture Is rwlsed on an accruats basis. EyThdlture irKludes any VAT whlch cannot be fulty r￿ed, a￿1 Is reFNted as parl of Ihe exFendlture lo ￿Nch It relates. Expwvjiture on These [￿Wise the costs asxxiated wtlh allr&tiro v¢Juntary Income. fundralsl raLsing funds tradlrrfJ costs and Investrrnt maryment Costs. ExperKlilure on These comwise tfre costs ItKurred by the ch￿lty In Ihe dellwy of Its actmtles aTrJ charitable acllvltles servkes In Ihe funherarKe of Ils objecls. IrKludlTrJ the makiTrJ of gran15 and Grants payable I ￿ant exFerKllture15 accwnted (m an actual paid basls plus an &cnJal for ant5 that have been apprfftd by the tr￿lee5 al Iheend of JEar but nol yel Patd. Govemarte costs These I￿1￿ It￿1$e costs assctiated wlth meetlrrfj conslltutlonal and stalutcry requlrements of the Charfty, ￿ludI￿ any wJJiinThjet￿dent examlnation f&5. costs Ilnked to the slralOc manav￿1 ￿the Charlty. loplher wlth 8 share of oltw admlnlslralion costs. oitr experKlllwe These are supFrf costs all￿ted lo a partlcuLir xllllty. Taxatlon The chadty Is exempl from tax on Its charftable xtfvllie5. Freehold Investment IXOFÉrty Investmenl wopertks are measured Inlllallyat cosl arKI sutrwtly al falrvalue al each balarKe sheet dale a￿1 are not deV￿lated. AJI galns ￿ losses are taken to the sla1eff￿t of FlnarKlal ACt￿ttle5 as they arlse. Stocks Slttk Is Included al the lower of cost or nel reallsable valuè t)nated Items of slc(k are recognlsed at falr value whkh Is Ihe amount the charlly would have teen wllllrKJ to pay for the Items on open market. Trade and other debl Tra(k and other debtors are rec(vJnlsed at the settlement am(￿nI due after any Irade dlscounl offered. Prepayments are valued al the amount wepakj nel of any trade dtswnts due. Cash and cash equlvalents Cash and cash equ￿alentS comwlse cash al bank arKI on hand. demand deF4)slts %•Alh bank5 and other sM)rt-lerm highty liquld Inve51rrEnts vAth Lylglnal malurllies of three nxy)Ihs or less a￿1 bank overdrafts. In the statement of flnatxLg1 sx)s6tk)n, bank Dmdrafts ¥e slThvn vAthln t￿0￿rI￿ ￿ currenl Ilabllltles. In the Statement of Cash Flo￿5. cash and cash ewlvalenls are Sh￿ nel of bat overdrafts Ihal are repayable ort demaThJ and r￿M an Int¥al wl of the crfflpany's cash man&Jement. Trade and other credlt(Ks Short lerm credllors are measured al ihe transactlon wlce. Olher credltors and Fxovlslons are recognlsed where the charlty has a present oblli(x) resvlliNJ from a past event Ihal ￿11 probably result In the Iransfer of funds lo a Ihlrd party and amcAJnl skn lo sellle the obligat1c￿ can be measured or esllmaled rellably. CredIt￿5 and W0￿510r￿ are rrnlty rttwlsed at their settlement arr￿jnt after allowing for arty trade discounts due. Page 10

Heron Educational Foundation Notes lo the Accounls Rese8rth and development ExpendItU￿ research arKI de¥ekywl Is ffltten off In Iheyear In vthh It Is [r￿rr￿J. Forelgn currencles Monetary assets and liabilllles d￿TrInated In other than the ftwKtlonal cU￿encY of the charlly are translated al the rates of exctoroe wevallirYJ al ihe er of the rep)rtlng Frlod. Transacllons In currencles other than thefuncllonal CUrrer￿ of Ihe dwity are r￿Orded al the rate of exchanF on the dale thal the transacti￿ (xcurT&I. All exchafv differe￿e& are are taken Into ￿COUnt In arrI￿￿j at net Ir￿oMe1exFTr￿ItUre. Leased assels Where the charlty eDler5 Into a lease vknth enlalb taklng subslantlalty the risks and rewards of ownershlp of an asset, the lease ￿ Ireated as a fIna￿e le￿. Leases which (Jo rnl Iransfer subslantlalty all the rlsks and rewarits of lo charlty are classlfled a5 operatlThJ lease5. Assets held under finar￿e ￿Se5 are Inltlalty reC(wis￿ as assets of the charlty al Ihelr falr value at the ncepllon of the lease ￿, If al the presenl of mlnlmum lease payments. The correspondlNJ Ilablllly lo the lessor Is Included In the balan￿ sheel dale as a finar￿e lease obllgallon. Lease payments are apportloned between finarKe expenses aThJ red￿tIon of the lease obllgalion so as lo achleve a constant rate ol Interest on the remainiTrJ balar￿e of the Ilability. FinwKe expenses are recwlsed Immediately, unless they are dlrectty attrlbutable to quallfylng assets. In case they are capllallsed In accordance wlth the charitys poliry on torrowir¥J costs. Assets held under flnan￿ leases afe (￿￿￿ted In It same way as thyned assels. Operallry lease payments are rec(wlsed as an exFense on a straI￿l-llne bas15 over the lease term, In the eversl Ihal lease Incentlves are recefved 10 enier Into cw8llrKJ leases. sLKh IrKenllves are rec(KJnlsed as a Ilablllty. The wegale benefit of IrKenllves Is recc¥3nlsed as a reducllon ol rental expense ￿ a sIra1￿t.11ne basts Penslon cosls The charlty cperates a denrd conlrlbutkn for Ils eryk)yees. A deflned c￿trIbUtIon plèn Is a Pens1￿ plan u￿r the charlly pays flxed conlrlbullons Into a separate enllty 0￿e the conlrlbutlons have been pald Ihe charlty has w further paymenls obligatkyts. The contrlt4Jllons are recognlsed as expenses when t￿Y fall due. Amounls nol pald are kn in accrua15 In the bala￿e sheet. The a55ets of the plan are held Separately from charlty In Indepethlly admlnlstered funds. Recelpt of donated go(Mls. fac111t￿ and servlces All donated WJ5, facllltles and servlces recelved are feccwilsed ￿thIn I￿om7￿J rescdjrces and expendlture at an esllmate of the vak to Ihe tharlty. Page il

Fteron Ed￿at￿m￿l Foundation Notes lo the Account5 2 Statement of Flnanclal Actfvllles- JEar Uweslrlcled fun(ts Tolal funds 2024 2024 Income and endowmentsfrom.. Charltable aclmlles Other trading actfvities Investment5 Olher 2,102 89,682 2,102 89.682 Total 91,986 91,986 Expendlture on.. Olher 38.768 38,768 38.768 Tolal 38,768 Nel Income 53.218 53,218 Net IrKome tefore olh galnslllosses} Other galns and losses. Net movement In funds 53.218 53.218 53,218 53,218 Reconclllatlon of funds.. Total fund5 bought fwrd Total funds carrled forward 980,7C*> 1,033.924 980,706 1,033,924 3 Income from charllable acllvllles Unrestrlcted Total 2025 Tolal 2024 YEDL Wayleave 4 from other tradlrwJ xtmlles Unrestrlcled Total 2025 Total 2024 Humblelon Rmtk)n Club 2tKJ 2CM) 5 I￿0￿ from InVeStn￿lS Unreslrkted Tolal 2025 Total 2024 Bank Interest Recelved 2,135 2,135 2.135 2.135 2,102 2,102 Page12

Heron Ed￿811(￿1 Foundation Notes to the Accounts 6 Other Unrestrlded Tolal 2025 Total 2024 Investment Prowy Renl Sundry Income Grants 43,276 Ic 43,276 43,509 46,173 89,682 43.376 43.376 7 Other expendlture UNeslrkted Total 2025 Tolal 2024 Awards and Grants Bank loan and overdraft Interest payab Premtses costs General admlnlslratlve costs Legal and professlonal cosls 5,756 5.756 4,765 8,289 8,289 8,732 14,755 329 4.480 33, 14.755 329 14,250 272 4,4 33,6(r) 10,749 38,768 B Staff costs No empk)yee rttthed ern￿uments In excess of £60.CW. 9 Inveslmenls Freehjld Investment Property Total Cost or revaluatlon Al 1 Aprll 2024 Al 31 March 2025 Nel book value5 Al 31 March 2025 Al 31 March 2024 1,152,216 1,152,216 1,152.216 1.152,216 1,152.216 1,152,216 1,152.216 1,152,216 10 st￿ks 2025 2024 Raw malerlals and tcrfwmables 412 412 412 412 Page13

Heron Educational Fwndation Notes to the Accounts 11 Credit(K5". amcMJnts falllng due within i)ne y 2025 2024 Bank loans and overdrafts Accruals 10.879 8.365 497 8,862 10.879 12 Creditor5'. amounts falling due after more than year 2025 2024 Bank loans and overdrafts 165.408 165,408 178,323 178,323 13 Movement In funds Ir(omlrKJ resource5 (Ir￿lUdI other At 1 Aprll galns/losses 2024 At31 March 2025 expended Reslrlcled funds.. Unreslrlcled funds.. General funds 1.033.924 45,713 I33,6C￿) 1,046.028 Total funds 14 Analysls of net assets between funds 1,033,924 45,713 (33,6091 1.046,028 Unrestrictèd funds Restrlcled fur Total Investments Nel current assets Credllors due In rrKYe than arrtl provSsKJns 1,152.216 1,152,216 59,220 59.220 {165.408) 1165,40BI {106.1881 1.152,216 1,046,028 15 RecO￿lI1atl0n of net debt A131 March 2025 Al l Apyll 2024 Cash flow5 Cash and cash equlvalent5 68,481 68.481 69,&97 69,687 Bank loans (186.688) (186,6881 10.401 10,401 1176,2871 1176,2871 Net debt (118.207) 11,607 1106,6C()) Page 14

Heron EdL￿allon3l Foundation Notes lo the Accounts Page15

Heron EdLKallonal Foundallon Siatement of Cash flows for the year erKled 31 March 2025 2025 2024 Cash flows from operatlThJ acllvllles Nel Income per Statement of Finar￿18￿ Actlvlttes 12.104 53,218 Adjustmenls f(Y'. Dlvidends. Interesl aThJ renls from irNestmenls ID&rease)1l￿e35e in trade arKI other payables (45.511) (49n (91,784) 297 Net cash used In operatlThJ ￿t￿ltIeS 133,IIN) {38,269) Cash nows from Invesllng &tlvltles Dlvldends, Inleresl aThJ rents from IrNestmenls 45.511 91,784 Net cash from Inve5tlrrfJ ac1m1￿5 45,511 91,784 Cash flows from flnarKlrKJ actlvltles Repayment of twoAlr (10,401) 19,958) Net Cash used In financlng activltles (10.401) {9,958) Net I￿rease In cash arKI cash equSvalents 1.206 43,557 Cash arKI cash equfvalents at the teglnnlT¥J of the year 68.481 74,667 Cash and cash equlvalenls at the e￿ of the year 69.687 118,224 Compc¥￿t5 ofca5h and equlvalents Cash and bank balances 69.687 68,481 69.687 68,481 Page16

Heron EdEtstional Fc4Jndation Detalled staterr￿tI of FIna￿al ktfvltles for the year WKled 31 March 2025 Unrestrkted funds Total ftJNls Total funds 2025 2025 2024 Income and endowments frcrfn.. Charllable acttvllles YEDL Wayleave Other Iradlng actMlle5 Humblelon Re(￿tIon Club 2DJ Investments Bank Interest Re￿IVed 2.135 2.135 2.135 2.135 2,102 2.102 Other Investment Property Rent Sundry Income Grants 43,276 1L 43,276 1C 43,509 46,173 89,682 91,986 43,376 43.376 Total Income and endowments 45,713 45,713 Expendllure on.. Other expendllure Awards and Grants Bank loan crmthalt Interest payable 5,756 5.756 4,765 8,289 8,289 .732 14,045 14.045 13,497 Premlses costs Llghl, heat and F(wer Premlses Insuran￿$ Premlses repaks aTrJ m.?lytcna￿e 1,728 1,728 1,181 894 12,2?3 12,223 12,175 14,755 14,755 Gere.'al adTr',- 4k1￿lL.￿',-fj deFJre£4atiori ard am￿tI52*Y￿-. U. Idry eyenses 329 329 272 272 329 LeG'a, ani, ￿. 2fessIc￿e[ c.sls uoSt/ifide@ndent examiiièl￿j (4DO) 'JanagemeDt ia,-ses -er leGal a-ld. ?'-oiesslon81 4.880 6.020 4,480 4.480 Page 17

Heron Educatlonal Foundation Detalled Statement of Finartial A£trvities Total of exFendllure of other costs Total expendlture Nel galns on Inveslments 33,fA)9 33,609 38,768 33,t 33,tA)9 38.768 Net 1￿cHne 12.104 12.104 53.218 Nel Income bef￿e oll galns/(losses} Other Galns 12,104 12.104 53,218 Net moverrEnt In funds 12.104 12.104 53.218 Reconclllatlon of fu￿t$.. Total funds browt f¢yward 1.033,924 1.033.924 9BO,706 Total funds carrled forward 1.046,028 1,046.028 1,033,924 Page 18