Charlty rngl8trallon numbgr 1188401 THE HINCHINGBROOKE FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE HINCHINGBROOKE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr P Cox, Chair of TnJstee$, former G0mOr of St Peterfs School MrA Buder, Representing Hunllngdon Almshouse Chaiity Mr M Joynei, fomer Govemor of Hinchingbrooke School Mr T Veel9y, Tea¢hei at Hinchingbrooke School Mr J Leaver. formei Govemor of St Peterfs School Miss L Inskip. Govemor of Hinchingbrooke School Mr P Sadler, Gov8mor of St Pataes Sthool MrA Hunter, Pmcipal of Hinchingbrook¥ School Mrs C Ducket. Busin&$$ Manager of Sl Peterf$ School Mr M Pinder. Vice Principal of Hinchingbrookeschool (Appointed 20 November 20241 (Appointed 20 November 20241 IAppoinled 20 November 2024) Charfty number 1188401 Principal addrnJ• clo Hinchingbrooke School Biampton Road Hurtlingdon Cambridgeshi United Kingdc* PE29 3BN Auditor 29t$ Audit Services W8Stpoinl Lynch tI)d Peterborough Cambridgeshire United Kingdom PE2 6FZ Soll¢itor4 Roythome$ The Incubator ¢onbury Enterprise Campus Huntingdon Cambridgeshlre PE28 4XA Investm•nt CCLA Fund Managers Limited advlsors One angel Lane London EC4R 3AB
THE HINCHINGBROOKE FOUNDATION CONTENTS Page Trustees. report Stsl&mfjnt of Trust88s' responsibilities Independenl auditorfs report Statement of financial actNities 10- 11 Balance sheet 12 Notes lo the finan81 statements 13-24
THE HINCHINGBROOKE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustee$ prgsent their annual reptsrt and financial statements for the year ended 31 March 2025. The finandal statements have been prepared in accordance with the occounling policles set oul in note 1 to Ihe finanGial sl8lements and comply with Foundation's governing document. the Charrtie5 Ad 20118nd'Accounling and Reporting by Chanties.. Slat•menl of Recommended Practice applicable to charTtie8 preparing their accounts in eOrdanCe with the Finanaal Reporting Standard applicable in the UK an¢J Republic of Ireland IFRS 1021" leffeclive l January 2019). Obj•etlvè¥ and activhlès Policies and objeclivgs It 1$ the policy of Ihe Trustees to provide beneffts in accordance with the objects of The Hinchingbrooke Foundation and lo have regard. w far as possible. lo maintaining the value of the capital ol the Foundation in the interests of future as well as current benekiaries. Trustees budget on a conservative basis, 8eeknng to match expendrture lo annual income. Where grants in exce8s of annual income have bèan awarded for large scalg building pYoj¢¢Xs, prior arrangements have been made with the Chatity Commission for replacement of capital $0 used. In addilKJn, Trustees have agreed advan(s of annual grants from unrèstrtcted reseThes to assist capital TenovatJns. b. Activitie8 for achiewng oblecaives The Hinchingbrooke Foundation is a grant1vIng educational charity. Funding is prowded to Hin¢hingbrooke, Sl Peter's and Spring Ccrfnrnon schools and to local voluntary organisations working for the bengfil of young people in the HLmlingdon area. The Tru$lees award bursaries lo young people under the age of 25 who h8ve attendèd a schocl or ¢ollege in the Hunlingdon area for al least years to assist wilh their education and development. The Tru51ees have paid due regard lo guidanr* Issued by th8 Chaiity Commission in deciding what aclivitiès the Foundation should undertake. c. Grant making polic4es The Trustees havo a eolledive responsibTIty lo ensure lund5 are disbur8ed approprbatety. Grants 8ward8d lo secondary schools and ftjrther education colleges in Hunlingdon may prowde sp¢¢ial benefits of any knnd for the school as may from time lo lime bg determined by its governors. Trustee8 may award Hinchingbrooke Schoctl not more than one-third of the net incomè for the y&ar. Trustees g&nerally consider appeals from heal voluntary or9anlsalions from wrrtten app4¢alkJns and reports of their activities. Support lor organisalions working for and wilh young peopl• assists the e4u¢alion. davelopment and well-being of young paople oulsida school.
THE HINCHINGBROOKE FOUNDATION TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢hlevements and perfomMnce . Investment ptrlicy and pèrftsmiance The Foundation's quoted investments are managed by CCLA on a Discretionary Inveslmonl Management Service. A8 al 31 M8iGh the portfolio is 96°A is invested in the Common Investment Fund anLf 4C/o in the Property Fund. CCLA manage four portfolios namèty thè Pèm)anent Endowm8nt, Unreslricted,Restricted Fund for Prizes and Th8 Hinchingbrooke House contingency fund. The u8 Of the fvnd$ eased by £467.343 {£826.026 increase in prior year} to £10.121m1£10.437m in prior yearl The Trustees have a balanced attrtude to risk and are thefOre prepared lo accept inve81ment risk In order to achieve the longer-lerm objectives of the Foun¢Jatson. The purpose of the Permanent Endowment Fund is lo maintain and enhance the real value las measured by CPI) perpetuity. The Trustees are happy lo receive the natural irKome yield of the undertying invèstmants held in the portfolio. The caprtal from the fund cannot be used to fund expenditure. The purposè of the Unrestrictèd Fund and Restricted Fund is to maintain and enhance the real value (as measvred by CPI) over the longer-lerm 110 * years). The Trustees are happy to receive the natural income yield of the underfying investments held In the portfolio. The capital from the fund ¢an bo ussd to fund 8xp8nditure. The objective of each portfolio is lo achieve a retum of CPI + 4% per annum net of fees on a S-yo¥r rolling basis. There is an annual in¢om& larg8t of £250,000 from the combined portfolios, whi¢h Is vIewèd by Trustees annually. The Designated Fund (created IJar¢h 20251 1$ invested in Accumulation Units with the automatic reinvestment of income earned from the undèrfying portfolio Thè CAPital from thè fund, subject to Trustee approval, can be drawdown by Hinchingbrooke School only for fepairs and maintenance lo Hin¢hin9brooke House. S¢e under Financial Review a. Reserves policy. Total resource$ arising to the Foundation in 2024125 were £309,069 {prior year £302,254). A 3.OOOA return was achieved on the market valuè of holdings al the year end. There were no changes 1¢ Ihe Fouftdalion's investment land holdings during the year, of £364,780. No valuè is attributed to thè School site as no value could be realised. Details of the investments of the Foundation al 31 March 2025 and of the movements during tho year ended on that date will b6 lound on pages 19 and 20 li the NIAes 10 and 12 to the Finandal Stslemenls. b. Charitabk ¢ontributions £234,877 of income was dlslrfbuted aiyoss a range of sthools, loGal voluntary organisations and individuals in the Huntingdon area induding.. 64 indiwdual bursaries lo students lo assist with their edu¢ation in the sum of £23,887 9 grants to local groups incILing Fusion. Kite Twsl. Hunlingdon Gym, Huntingdon Youth Theatre and Hin¢hingbrotske Scouls of £36.233 To Hinchin9brooke School, Sl Pelerfs School and Swing Common School grant payments of £136,257 to allow the respective schools to prowde addrtional benefits and assislance for their 51udenl8. £12.125 across Hlnchingbr¢x*ke S¢hool and Sl Peler's School as Hardship Fund Bursary p3ymenl to help students with unexp&ctèd costs such as transport or unrforms £20,000 of the Hinchingbrooke School gfanl was retained as capital repayment on a current loan advance of £73,1100 for varKTrus projects * the S¢hool. Thè advance is duè foi repayment in 202812029. An advance of grant of £50.000 was made lo St Peter's School in May 2022 for the refurbishment of an existing building lo provide additional leaching facilities. £15,000 ol the grant wa$ rgtsin•d as Gapilal repayment on this advance which is due for repayment in 202512026.
THE HINCHINGBROOKE FOUNDATION TRUSTEES. REPORT (corINuED FOR THE YEAR ENDED 31 MARCH 2025 Flnanclal r•view a. Reserves poly Other thèn noted below it is the cuThent policy lo disburse tha annual income in line with the objectives and grant making policies of the charity. As such it is not the intention to a¢¢urnulale a level ol r&setvgs other than lo ensure th8 abilty lo repay th$ £14,200 repayment to the defermd grant acwunt as noted under {cl tr*low. Following the change of status of Hinchingbrooke School from Local Authority Controlled School to Academy in 2011 and the subsequent 12>yeaT lease from the Foundation to the sthool for Hln¢hingbrookÈ Hous8 it was agreed that a reserve propety fund of £100,000 wa$ de$ignat8d, from Unrestrict¥d Funds. for drawdown if requlred foi repairs lo Hinthingbrook¥ House. Trustees agreed to increase the fund to £150,000 from November 2024 and to create a Designated Fund invèsted in Accumulation Uniis. b. Management and administration Income in 202412025 exceeded expenditure18xduding the costs of capital repaymerrtsl by £27,542. Incom¢ was 2.25/ hSgher and tharilable expendrtur• was S.3. lower than in tha prèvious year. Resources used for goveman¢e, administration, property maintenance and insurance of the Foundation were £32,450 versus £32,662 in the prwous year. ¢. Buikling grants In 1997 the Charity Commission authorised Trustees, use of Pérmanent Endowment fund$ lo extend a £1 million Local Aulhorty building programme whid) was )Mpleted in July 1999. Th8 Foundation's ¢atxtal contributicm of £850,000 is being replaced from annual income over sixty years In accordance with Charity Commission requirèments. This wmmenced in 199912000 with a p8yrnenl of £12,200. From 2000101, annual paYntS are made at the rate of £14,20CI for 59 years. The current balance is £240.71612024- £262,000) structuro. governanc• and manag•mgnl Thè Truslees who Served during the yeaT and up to th& dale of 5ignaluie ofthe financaal stslements were.. Mr P Cox, We chali, fofflier Govemor of St Peterfs SdTrool Mr A Buuer. Reprèsenting Huntingdon Almshouse Charity Mi M Joyner, fornier Governor of Hinchingbrooke S¢hool Mr T Wheejey, Teacher at Hin¢hingbrooke School Mr J Leaver, fomer Govgmor of Sl Peterfs School Miss L Inskip, Govemor ol Hinchingbrooke School Mr P Sadler. Governor of Sl Pelerfs School MrA Hunter, Principal of Hinchingbrooke School Mrs C Ducket, Business Manager of St Peter's School Mr M Pinder. Vice Principal of Hind)ingbrooke School Mr P Fenney. Resigned March 2025 MT5 Mazzie Bartimus, Resignèd Novemb•r 2024 Mr Mark Patterson, Resigned July 2024 Mr John Brown, Resigned Juty 2024
THE HINCHINGBROOKE FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Conslilulion The Hinchingbrooke Foundation's charity registeréd number, address of its princApal office and names of all ils trustees are detailed on the adminislralive details pages of these finèn¢ial slal¢mènts. The Foundation is Charitable In¢orpc*rated Organisation (CIO) approved by the Charity Commission in Marth 2020. The Charity Cornmis8ion approved the Iransfef and lagal title of Ihe investments and land from the Official Custodian lo the CIO on 8 June and 19 June 2020 Tespectively. The Conslilulion of the Charity slates a financial contribution to the St John's Almshouso Ch8rity 1$ required lo bo made after whith the Trustees may apply the nel annual incorne after adminislr8lion expenses In the following manner.. In woviding special benefits of any kind for Hinchlngbrooke School not exceeding one third of nel annual income.. In prowding other education benefits for young people under the age of twenly-five who live in Hunlingdon. GodTnanchesler and the neighbouring area. This may be discharged by making finan31 awards to en8ble them lo further their education or to voluntary organisations in the area whose objects are compatible with those of the Foundats'on.. In providing special beneffts of any kind lor any other Secondary School sgrvlng the area. b. Method of appointment or election of Trustees The managemènt of the Charity is the responsibilty of th8 Trustees who have been elecled under the terms of the CIO. Trustees are nominated by the Ch8wman of Trustees and appointed for a term of fouT years by resolution of the Trustees. The Trustee boty comprises beeen seven and Iwelve Tiustees induding the Prlnch)al of Hinchingbrooke School, one Sthool Governor from Hinchingbrooke School and one representalwe lif 8vailablèl from St John's Almshouse Charity in Huntingdon. Other Trustees are drawn from local c#)mmunrty organisations and 8ehoolsl Colleges who serve in a person81 ¢8pa¢ity only. No person shall act a8 a Tru51ee until he or she has stgngd a declaration of acceptance and of willingness lo act in the GIO. On appoinlrnenl, Trustees receive iegular reports on the managèmènt of The Hinchingbrooke Foundation rinanc8s and the legal requirements of Trustees who develep their knowledge and understanding through personal study and peer group discussion al Trustees meetings. Al the end of th8 y8ar th8 Trusteo Body consisted of one Tru5te8 nominated by the Trustee$ of the Sl John's Almshouse Charity., The Principal of Hinehingbrooke School, One School Govemor frorn Hinchingbiooke School and eighl other appointments made In accordan wllh the Gonstitlrtton. c. Pay policy for senior staff.. The Charity doe3 not employ any $tsff dire¢dy and therefore has no such policy.
THE HINCHINGBROOKE FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 d. Organis8tional structwe and derAsion making Trustees agree to meet Ihraa times a year lo consider appeals received from eligible lo¢al ¢omrnunity organisalions and lo rewew the investment and disbursement of Foundation funds and managèment of propety and facilitie$. In addition, Trustees havè appointed a Bursary Committee to conslder, three limes a year, application$ for 9rants I bursarigs from individuals A Foundation Management Committ99 from among them ¢gn be convened lo conslder issues on ts8haFf of the full body, as necessary. In August 2011. the Trustees agrefrd terms for a lease to th& Academy schixjl of the propety owned by th8 Foundation lor a period of 125 years, having first commissioned a Report under Section 36111 of the 1993 Charities Act from Chartered Surveyor5. Carter Jonas, in iespecl of thè disposition. This Report conduded that a transfer of propgrty maintenance and r¢pair responsrbililies from the County Council lo the Academy Foundation did not place the Foundation in a worse position Ihan before the disposiEion. In exercising th¢ir responsibilities, the Foundation Trustees have a duty to 8nsurè that they avoid any nflict of interest or duty with their role$ as Govemors of Hinchingbiooke School or St Peteffs School. The Trustees appoint a Manager lo administer the Foundation. The Manager is MT A Hendersgn, and this appointment was confirmed by the Ttuslee5 for a further 3 years from 1 July 2024. The FoundatK*n Managers responsibilities include 811 aspects of governance and finanoal management ACES Academies Trust, a Mtslli Academy Trust (MAT) wa8 formed in January 2018 to replace the fomi8r Academy. 11 was agreed, following legal advice, that no changes were required to the lease arrangements wllh Hinchingbrookè S(a)ool, which continues to occupy the school property on a 125-year lease. As regards the repre5enlalion of the Foundation on the MAT, it was agreed that the Foundation Mll have o represenlallves. one lo sit on thè MAT board and one to $it on Hinchingbrooke'$ Local Goveming Body. 11 was lurther agreed that grants to Hinchingbrooke School woulj be for the exdu8ive benefit of that school and not the MAT. e. Risk managern8nt The Trustees havg assessed the major risks lo which the Charity 1$ exposed, in particular those r8lated to the operations and finances ol the Charity. and a satisfied that systems are in place to m(cigale exposure to the major rfsks. The capacity of the Foundation lo sustain its grant-awarding fvnction is largely dependent on the Inme fiow from ils investments. In assessing external risk$. the Trustges agiee an annual budget for grants in the light of expected in¢ome, monitor incomè and expenditura thrtsu9houl the year and review their Risk Register and investment and reserves policy annually. Inlemaj risks a minimised by the implementation of procedure$ for authorisation of all transactions and by the annual $tstulory audit conducigd. Accounting processes are set out in an operations rllanual. Risk of deterioration to the property estate is mitigated by steps tak•n by Trustees to a$sisl the School in ils responsibiltties. Auditor In a¢¢y)rdance with the company's articles. a resolution proposing that Azels Audit Services b8 reappointed as 8udilor of the company WIN be pul al a G&n¢ial Meeting. Dlsclosuffj of infomiatlon to audttor Each of the Trvstè&s has confirmed that Ihew is no infomiatlon of whrch they are awaTe which 1$ rglevanl lo the audit. but of whith the auditor is unaware, They have further confirmed thal Ih8y have taken appropriate steps to identify such relevant infomiation and to establish that thè auditor is aware of su¢h InfoatIon. The Tru rt was apWOv by the Board of Truslg8$. Mr P Cox, Chalr of Trustees, fomier Govemor of St Peterfs S¢hoo1 Tru$l•e Dale..
THE HINCHINGBROOKE FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Truslegs are resFK)nsible for preparing the Tnjstees. Report and the financknil statements in accordance with applicable law and Unlled Kingdorn Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and W8l&s requires the Trustees lo prepare financial statemgnls for each rinancial year which give a true and fair view of the slate of affairs of the Foundation and of the incoming resources and application of resources of the Foundation for that year. In preparing these financial 51atemènts, the Trustees are requir9d to.. - seled surtable accounting policies and Ihen apply them cnnsistently- observe the methods and prlndples in the Charities SORP., make judgements and estimates that are rèasonablg and prudent., stale whether applicable accounting Standards have be8n folk)w¢d. subject to any m8lerial departures disdosed and explained in the financial $latemenls, and prepare the finanrial statements on the going concem basi$ unles$ it is inappropriate to presum8 that the charity will continue in opefallon. The Tru8le&s arè responsible for keepin9 sufficient accounts.ng lerdS th81 disclose with reasonable accuracy al any time the financial position of the Foundation and Ènable them to ensure Ihat the financial stalemenls comply wrth the Charilles Act 2011, thè Charity IA¢counts and Rèports) Regulalions 2006 and the provisions of the Itust deed. They are al$ts responsible for safeguarding the assets of the Foundation and hence for takin9 reasonable steps for the prever)lion and detectlon of fraud and other irTegularities.
THE HINCHINGBROOKE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE HINCHINGBROOKE FOUNDATION Opinlon We have audited the finan¢lal statements of The Hinchingbrooke Foundation {Ihe 'Foundalion'l foi the year ended 31 March 2025 whi¢h comprise the statement of financial actiwties, the balance sheet and notes lo the finanual statements, including signrficanl accounting PDlicie5. The finanaal rsporting framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Stsndards, induding Financial Reporting Standard 102 The FinancAal Reporting Standard applicable in the IJK and Republic of Ireland (United Kingdom Generalty A¢eepted Acwunting Practice). In our opinion, Ihe f#)ancial ststemenl5.' give a true and fair VI of the slate of the charitl$ affalrs as at 31 March 2025 and of its incoming resources 8nd application of resources, for the year then ended,. have been Properfy prepar in accordance wrth United lfjngdom Ganerally A¢¢epled Accounllng Praclic6'. have been pr8pared in accordance w#h thè requirements ofthe Charities Act 2011. 8ag1B lor opinlon We ¢onducted our audit in accordance with International Sland8rds on Auditing (UK) IISAS {UK)l and applicable law. Our responsibilities und&r those standards are further described in the Auditors Trsponsith-litiès for the audit of th& financial stafgm&nts section of our report. We ar¢ independent of the Foundation in accordan¢e with the ethical iequiremenls that are relevant lo our audit of th8 finanal statemènts in the UK. including the FRC'S Ethical Standard, and we have fuilled our other èthical responsibilities in ac¢ordan¢e with these reqijirernenls. Wa bdieve the audit evidènce we have obtained is suffleI and appropriats lo prowde a basis for oui opinion. Conelusions r•latlng to going concern In auditing the finanual stat8m8nls, we have concluded that the Twsteès. use of thè going conc8rn basis of accounting in the preparation of thè financial statements is appropriate. Based on the work havs performed, we have not klenlified any material uncertainties relating to events or condititsns that. indiwdually or eolledively, may cast Signtfieant doubt on the Foundation's ability to continue as going concem for a period of al least Iwefve months from when the financAal stal$mttnls are aLrthorisèd for issue. Our responsibilitiÈs and the responsibilities of Ihe Trustees with rèspect to going cOnM are describ&d in the relevant s8¢tK)ns of thi5 report. Other informallon The other inftsrmalion comprises the information induded in the annual report othèr than the ffinancial $lal?menls and our audrtor's report fftereon. The Trustees are responsiblo for the other infomiation contained withln the annual report. Our opinion on the finand81 $18lements does not eover the other infomalion and we do not expre88 any fom of assurance condusion Ih&reon. Our responsibilty is lo read the other infom81ion and, in dr)ing 80, consider whether the other infomi8lion 15 materially inconsislenl with the financial statements or our knowledge obtained in the course ol Ihe audit. or otherwise appears lo be materially misstated. If wè identify such material incon51Stencies or apparenl matarial misslalements, we are requlred Its determine whether this gives rise to a fflalerial misststement in the financial 51alemenls themselves. If, based on the worto w& have perfornied. we ¢on¢lude that thara is a material misstatsment of Ihis other infom)alion, we are required to roport that fact. We have nothing to report in this regard. Matters on whleh w• •r• r•quired to report by èx¢•ption We have rthIng lo report in SpeCt of the followin9 matters in relation lo whl¢h the Charities (Accounts and Reports} Regulations 21J08 require us lo report lo you if, in OUT opinion.. the informath'on given in the flnanryal Statements is inconsislenl in any malerial respect with the Trustees. rèport,. or $uffi¢lenl accounts'ng records have not been kept,. or the financial stslements are rt in agreement wfth the accounting records- or we have not re¢eived all the infomiatron and explanations we r8quir& lor our audit.
THE HINCHINGBROOKE FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE HINCHINGBROOKE FOUNDATION R•$ponsibilities of Trustees As 8xplain8d more fully in the statèmént of Trustees, responsibilities, the Tru51ees are iesponsible for the preparats'on of the financial statements and for being satisfièd that they give a true and fair view. and for such inlemal ¢onlrol as the Trustees determine is ne¢essary to Ènablè the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial slatements, the Trustees are responsible foi assessing the Foundatson's ability to continue as a going conce, disclosing, as appli¢ablo. malters related lo going con¢em and using the going concern basis of accounting unless the Tnjstees either Intend to cease operations. or have no reaThsti¢ allemalivè but to do so. Audttoe$ rèsponslbllltlès for thè audit of tho financial statsments We have been Appointéd as auditor un(Fer section 144 of the Charities Act 2011 and Teport in accxbrdance with the Act and relevant regulation$ made or having effed ihereunder. A further description of our re5ponsibililies is available on the Financial Reporting Councll's website al.. https'.11 WVwW.frc.org.uklaudilorsrespon5ibililies. This description forms part of our auditorf5 report. Extènt to which the audit wa5 considered ¢apab of d•tsetlng irregularities, in¢ludlng fraud Irregularities, induding fraud. are instances of non-compliance with13ws and regulations. We design procedures in line with our responsibilities, ouuinad above and on the Finantyal Reporting Council's website. lo detect material misslalements in rèspect of irregularities. including fraud. We obtain and uale our undeistsnding of the entity. rts actmties. Ils control enrOnMent. and likely ftrture developments. including in relallon to the legal and regulatory framework applicable and how th8 èntity is MplyIng with that framework. Based on this understanding, wè identfy and assess the risks of material misslalement of the financial statements, whether due to fraud or error, dèsign and perfomi audit procedures responsive to those risk$, and obl8in audit evidence that is sufficient and approprlale lo piovide a basis for our opinion. This includes consideration of thè risk of acts by the entity that were contrary lo appli¢able laws and re9ulations, including fraud. In response to Ihe risk of Irregularflies and non-compliance with laws and regulation$, induding fraud, we d&signèd proc8dures which induded.. Enquiry of rnanagemenl and those eJ)argèd with govemanca around actual and potential Irtigalion and daims as well as actual, suspected and alleged fraud., Reviewing minutes of meetings of those charged with goveman¢e: Assèssing thè extent of compliance w¢th the laws and règL)latKJns considered to have a direct material effect on the financial statements or the operations of the entity through 8nquiry and inspection.. Reviewing financial stalernenl disdosures and tesb'ng to SuppOng documentation to assess compliance with applicable laws and regulations., Performing audit work over the risk of management bias and oveIde of controls, including le5ting of journal entries and other adjustmènts for appropriate$$. evalualing the business ratlonale of signific8nt transactiDns outside the normal course of businèss and reviewing accounting estimates foi indicatois of potential bias. Because of the inherent limitations of an audit, there is a visk that we will not detect all irregularities, including those leading to a material mis$lalém&nl in the financial $lalemèrtts or non-compliance with regulation. This risk increases the more that compliance with a law or regulation 15 removed from the èvénts and transactions reflected in the financial stalernenls. as we will be less likely to become awaTe of instances of non-wmpliance. The risk of not detecting a material misstatèmènt resuhing from fraud is higher than lor one resuf(ing Irom error, as fraud m8y Invol lluSIon, forgery, intentional omissions, misrepresentations, or the override of intemal conliol.
THE HINCHINGBROOKE FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE HINCHINGBROOKE FOUNDATION OtheT matters Your attention is drawn lo the fact that the charity has prepared financial ststements in accordance wilh'Ac¢ounling and Reporting by Charities.. Slalemonl of Recommend&d Practice applicablo lo chariknes preparing their account5 in accordance with the Financial Reptsrting Standard applicable in thg UK and Republic of Ireland IFRS 1021" las amended) in pieference to the Aecounling and Reporting by Charities_. StÈlemenl of Re(x)mmended Prtice issugd on 1 April 2005 which is referr•d lo in the exiant rogulalions but has nt)w been wilhdrawn. This ha$ been done in order for the finan¢ial statenIS to provide a true and fall wew in accordance with current Genelally Accepted Accounllng Practice. Use of t)ur rnport This report is made Solely to the charity's truslees, as a body, in acwrdance with part 4 of the Chariti&s IAccounts and Reports) Regulations 2008. Our audit work has been undertaken $0 that we might slate lo the charity's trustees those mattèrs we are required lo stsle lo thom in an audilor's port and for no othèr purpose. To the fullest extent pem)itted by law, we do not accept or assume responsibility lo anyone other than the charity and the charrty's trustees as a body, for our audit wort, forthis repart, or for Ihe opinions we have formed. Mr Mark Jackson FCA OChA Istrnior Statutory Auditor) for and on behalf of Azets Audit S•r¥l¢e¥ 14..7....aok>.". Chart•r•d A¢¢ountants Statutory Auditor Westpoinl Lynch Wood Pelerborough Cambridgeshire Unite(l Kingdom PE2 6FZ Azets Audit SeNiCèS is eligible for appoinlm&nl as auditor of tha Foundation by rtUfr of its eligibility for appoinlmenl as auditor of a company under section 1212 of the Companies Ad 2006.
THE HINCHINGBROOKE FOUNDATION STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Currnnt financial y•ar Unrestricted Designatsd Restricted Endovmient lund3 nds funds funds 2025 2025 2025 2026 Tt)t41 2026 2024 Notes Income from: Investments 21,169 4,604 283.296 309,069 302,254 nditure on: Charitable actimties 263,327 4,000 267,327 284,281 Other 14,2LXJ 14.200 64,200 Total exp¢ndltur• 263,327 4,000 14,21KJ 281,527 348,481 NÈI gainslllossesl on investments 10 120,6281 {1.9071 {6,9591 1437.849) 1467.3431 826,026 Net loutgoingllineamlng resources b8fort trnn$fern 1262,7861 11.90TJ (6,3551 1168.7531 1439,8011 779,799 Gross transfers beeen funds 219,096 50,000 1269.0961 Net movèmènt In funds 143,690) 48,093 {6,355} 1437,849) {439.8011 779,799 Fund balances at 1 April 2D24 $40,791 100,OLK) 160,510 10.4S3,856 11,255.157 10.475,358 Fund balances at 31 Mareh 2025 497,101 148,093 154.155 10,016.C()7 10,815,356 11,255,157 The statement olfinanaal actNilies indudes all gains and losses reeognised in the year. All income and expenditure derivè from continuing actiwlies. 10-
THE HINCHINGBROOKE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Prior financlal or Unrgstrictsd Re$tri¢t•d Endowment funds funds fund$ 2024 2024 2024 Total 2024 comè from: InvestmÈnl8 21,656 4,517 276,081 302,2 Ex iture on: Charilabk actiwlies 276.481 7,800 284,281 other 64.2 64.200 Total 9xpendltur• 276,481 7.800 64.200 348,481 NÈI gainsllloss•sl on investments to 38.763 12.555 774.708 826,Q26 N•t loutgoingifincomlng rn8our¢o¥ befor• transfers (216.062) 9.272 986,589 779,799 Gr08S transfers befvveen Yijnds 211,796 {211,7S6) Nel movèment In funds {4,2e6) 9.272 774,793 779,799 Funds tranSfed on con[10n to CIO 645,057 151,238 9,679.063 10.475,358 Fund balan¢9$ at 31 March 2024 640,791 160,510 10,453,858 11,2SS.157 11
THE HINCHINGBROOKE FOUNDATION BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Fixed a$¥ets Inveslm¢nt properties Investments 12 13 364,780 10,121,038 364,780 10,437,096 10,485.818 10.801,876 Current assets Debtors Ca$h at bank and in hand 14 318,716 18.394 375,001 90,300 337,110 465,301 Credtttsrs: amounts falllng du• wlthln one yoar 15 17,5721 112,020) Net currenl a$$&ts 329,538 453,281 Total assets less ¢urr•nt li4bi15119¥ 10,815,356 11,255.157 Capital lunds Endowment funds Income lund¥ Reslrrted fvnds stricted fund Designated funds General unreslrictsd fUJ$ 18 10,016,007 10,453.856 17 1 54.155 160,510 148,093 497,101 100,000 540,791 645,194 640,791 10,815.356 11,255,157 Thefinan al stalem&nls wéra approved by the TIu51ee5 on. .16..A,, ox, Chair of Trustees. fomer Governor of St Peterfs School TruJte* 12-
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies Charlty infomiatlon The Hinchingbrooke FoUndatn nhe Foundation,) is a charitablè iAcorporation organisallon. regist¢red wf(h the Charity Commission. wilh the Charity Regi$tsallon Number 1188401. 1.1 Ae¢ounting conventlon The financial statsmenls have prepared in accordance with the Foundation's Trust deed, the Charities Act 2011, FRS 102 'The Financial Reporting Sfandard applicable in the UK and Republic of Ireland. l°FRS 102.? and the Charttses SORP "Accounting and Reporting by Charities. Slalernent of Recommended Practic& applicable to ¢harities preparing their accounts in accordance with the Finanial Rep¢tbng Standard applicable in the UK and Republic of Irdand {FRS 102)" leffe¢tiv¢ l January 20191. The Foundation is • Public Bénefit Entity a$ defined by FRS 102. The FOundatn has taken advantag& of the wovisions in the SORP for charrtles nol to pr$pare a Statement of Cash Fbws. The financial slatewnts have departed from the Charitiès (Accounts and Reports) Regulalion8 2008 onty to thè extent rèquitsd to piowde a Irue and fair view. This departure has involved following the Statement of Recomménded PrarAi¢e for charibes 8pplying FRS 102 ralh¢r than the version of the Statement ot Recommended Pradi¢e which is refèrred to in the Regulations but which has since been withdrawn. The financial statements are prepared in stetling, which is the functional ¢urrency olthe Foundation. Monetary amounts in Ihose financial slalewnts are founded to the nearest £. The finan81 statements have be8n prgpared under the historical ¢051 conv&nlion. The prin¢ipal accounting poIicAes adopted are $el out below. 12 Going conc•rn At the time of approwing the fin8n¢ial statements, the Truslees have a reasonable expedalion that the FotJndkn"on has adequate r•$ovrces lo continuo in operational exislenco for the fore$eeable future. Thus the Tru$lees continue lo adopt the going concem basis of accounting in preparfn9 the fin8n¢ial Slalements. 1.3 Charltable funds Unrestrided funds ar8 available for use at Ihe disrelion of the Trustèes in furtherance of their chatltab18 objectsves. Restricted fijnds are subject lo speofi¢ ¢onditions by donors as lo how they may be used. The purposa$ and uses ol thè restricted funds ore set out in the notes to the financial statements. Endowmènt funds ar• subi8Ct to sp&¢ffic cJJnditions by donor5 that the capital rnust b& maintained by the Foundatlon. 1A Incom• In¢ome is recognised whèn the Foundation is legally enlilled lo il after any perfomance condttions have been mel, the amounts can be measured rel'ably, and it is wobable that income will be receivèd. Cash donations are recognisèd on receipt. Other donalitsns are recognised once the Foundation has been noIrfd of the donation. unless perfornianee ¢onditions rèquire deferral of the amount. Income 18x recoverable in rel*ion to donations recelved under Gift Aid or deeds tsf o)venant 1$ recognised al the tsmo of the donation. Lega¢ie5 3r9 recognised on receipt or otheThvis8 if thè Foundation has been notifvdd of an impending dislribulion. the amount Is known. and receipt is expected. If the amount Is not known, the legacy is treat6d as a cxjnlingenl asset. 13-
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Ac¢ountlng polkles {Condnu•d) 1.5 Expenditure Expendiluie is re¢ogni$ed oncg there is a legal or N$t¢t1¥e obllgalknn to Iransfrr economic benefit to a third party, il is pr¢bable that a transfer of economic benefits will be reqUId in SettMent, and the amount of the obligation can be measured reliably. Expènditure is classified by actimly. The co$1$ of exch actiwty are made up of the totsl of direct costs and shared cosls, including support costs inVoed in undertaking ea¢h activity. Direct Costs attributable lo a single activity are allocated diiedly lo that actwity. Shared costs which contribute to more than one activity and SUPPDrt costs which are ntrl 8ttributable to a single activity are apportioned between those activities on a basis consistent with Ihe use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges are allocated on the pt)rtion of the asset's use. Governance cosls are those iTted in innectIon with adminislralion of the charity and Ixjmpliance with conslitulional and statutory requirements. Charitable actlvitles and govemanc8 costs are costs in¢[red the charrty's 8ducalional operations, including support eosts and costs rèlating to the governance of the chartty appo.ned to charitable activbties. Grants payable are charged in the year whtrn the offer is made except in those CASÈS where the offèr is eonditional, such grants being recognised as expendrture when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a comrnrtment, blrt not accrued a5 expenditur&. Grants funded from the endowmènt th the pèmiission of the Charrty Commission on the understanding that the endowment will be reimbuTsed have been troaled as multi-year grants with the proportion relating to futuie years, r¢imbursemenl treated as a deferted cost. 1.6 Inve8trnent propoty Investment property, which is property held lo earn réntals andlor for capital appreciation, 15 initially recognised at ¢ost. which includes the purchase cost and any dir*ctly attributable expenditure. Subsequenly il is rneasured 81 fair valuè at the reporting end dale. The surplus or defidt on revaluation is recognised in proffil or Ios5. 1.7 Fixed asjet invè¥tmènts Fixed asset investments are initialty measured at Iransaetion price excluding transadion eosls, and are subsequently measured al fair value al each reporting dalè. Changes in fair value are recognised in nel incomellexp¢ndilurèl for the year. Transaction costs are expensed as in¢urr•d. f.8 Cash and cash ¢quival•nts Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lem Ilqul(I inveslmenl$ wilh original maturities of three rnonlhs or18ss. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnancial in$trumènts The Foundation has gl¢cted lo apply the provisions of Section 11 'Basic Financial Instrumen15' and Section 12 'Other Finaneial Instruments Issues, of FRS 102 to all of it5 finand81 instruments. Financial in51rumenl$ are rècognisèd in the Foundation's bal8n¢e sheèt whèn the Foundation becomes party to the contractual provisions of the instrument. FinancAal assets and liabilities are oflsèt. wÉth the net amounts presented in the financial statements, when the is a legalty enforceable right lo set off the rècognised amounts and there Is an inlentoon to settle on a nel basi5 QI to realise the asset and settle the liability simultaneously. 14-
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ounting pollel•s Icontlnued) Basic finanelal •$$ets Basic financial assets, which include debtors aThJ cash and bank balances, are initially measured al transaction price induding transaetion c051s and are subsequently carrfed al amorflsed cost using the effedive interest method unbss the arrangement conslilute5 a financin9 transaction. where the tr8ns8ction 18 measured al the present value of the future receipts discountgd al a market rate of interest. Financral a5sel$ classified as receivable within one year are not amortised. 8wl¢ financial liabllhies Basic financial liabilities, in¢luding credllors and bank loans ale initially recoynised al Irans8ction price unlèss th? aiiangement conslilules a financing Iransaclion, where the debt in$lrument is measured at the present value ol the future payrvenls discounltrd al a market rale of interest. Financial liabilities ¢lassrfied as payable thin one year ar& not amortiS8d. Debl instruments are subsequently cariied * 8rrK)riised $1, using the effective intsresl rate melhrxl. Trade uedilors are obtigalions lo pay for goods or servicks that have been acquired in the ordinary course of operatlrA)s from suppliers. Amounts payable are classified as cuThent liabilities if payment is due within one yfyai 01 less. If not, they are presented as non-cuirent liabilities. Trade uedilors a recognised inilialty at transaction pric8 and 6ub5equently measured at arn1$ed cost usng the effèctivo interest method. Dereeognttlon of finanelal Ilabllitle Financial liabiliti&s are dereco9nised when the Foundation's conlraclual obligations expiie or are dSstharged or cancelled. Crltleal accountlng •$tlmatg5 and judg8m•nts In the application of the Foundion's accounting poli¢ies. the Trusteès are required lo make jud9èment& eslimales and assumptions about th& orrying amount of assets and liabilities th are not readily apparent from other sources. The estimates and associatéd •s$umptions are based on histori¢al experience and other factors thal are considered to b8 relevanl. Actual results may differ from these eslimales. The astimales and underlylnG assumption$ are reviewed on an ongoing basis. Revisions to accounting estimates are iecognised in the period in which the estimate Is revised where the revision affects only that ped. or in the period of the revision and future p8riods wh¢re the rgvision affects both current and fulure periods. 15-
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Investments Unr•strlcted R8strl¢ted End¢>wm•nt fund$ funds fund8 2025 2025 2025 Totsl 2025 Rental incorng Income Irom listed inv&stments Interest 5.698 277,598 5,698 299,981 3,390 17.779 3,390 4,604 21.169 4.604 283,296 309,069 Unreslri¢ted funds general 2024 Restricted Endowment funds funds Total 2024 2024 2024 Rèntal income Income from listed investrnents Interest 5,699 270.382 5,699 292,115 4,440 17,216 4.517 21.656 4,517 276,081 302.254 Charllable activlti¢s Grant fundlny 2025 Grnnt fundlng 2024 Gr8nt fvnding of activrthes {s8e note S) 234.877 251,619 Share of support costs (see note 6) Share of governanc8 costs <$ee note 61 24.878 7.572 25,642 7,020 267,327 284,281 Analy81$ by fund Unreslrided fvnds- general Reslri¢ted fvnds 263,327 276,481 7,800 267.327 284,281 16-
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Grnnts payable Grnntfunding Grant funding 2025 2024 Grants to inslilulions.. School Grants ComNnity grants Arts & Spe¢ial Proi8cls- Hinchingbrooke School Sl John's A1rn51use Charity Prizes 136,257 36,233 12,875 10.000 4,000 13S.2ts8 33.505 11,164 10,000 7,8QO 199,365 197,677 Grants lo individuals 35,512 53,942 234,877 251,619 Support Costs Support Governan¢o eo¥ts costs 2025 Support Gov•m*nce costs costs 2024 Accountancy 8nd Profession81 fees Mis11ae0uS expenses Admin Fee Insurance 1.767 554 21,(KK) 1.5S7 1,767 $54 21,Otio 1.557 1,889 461 22,000 1.492 1.689 461 22,000 1.492 Audit fees 7,572 7,572 7,020 7.020 24,878 7.572 32.450 25,642 7,020 32,662 Anatysed befvleen Charitsble aclwities 24,878 7.572 32,450 25,642 7,020 32.662 Govemance costs indudes paym&nts to the auditors of £7,572 (2024- £7,020) for audit f$. Tru5t• None of the Tru$tee5 {or any persons conn8Cted wllh them) reeefvgd any remuneration or benefits from the Foundation during the year. 17-
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employe•¥ The average monthly nurnb8r of employees during the year was.. 2028 Numb•r 2024 Numb•r Total There were no empbyees whose annual rgmuneTation was more than £60.000. Endowment Endowment fund¥ funds 2016 2024 Deferred grant 14.200 64,200 18-
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCM2025 Unr••trfcled Uhr•BtrIctyd Re•trFeted eTro¥Th•nt Totsl 25 2026 2026 202$ 120,8281 11,7) 16.959) 1437.8491 1467.3431 {20.6251 {1.wn 16.9591 1437,84 1457.3431 LMre8td¢te& Lknrethcted Restrktqd EThltydlY* fund¥ Imds gvnoral do9nAted 2024 24 2024 2024 Rakl)nO1V$mlnts 38,763 12.555 774.70 e28.028 38.76J 12,SSS 774.708 826.026 -19.
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Taxation The charity is exeTnpI from lax on income and gains falling within section 505 of the Taxès Act 1988 or Setttion 252 of the Taxationof Chargeabte Gains Act 1992 to Ihe extenl that these arg applied lo ils charitable object$. 12 Invesknont property 2025 Fjir v#lu• At 1 April 2024 and 31 March 2025 364.780 Investment property comprises Wjstow Fen Farm and Views Common. The fair value of the investment property has been arrived al on the basis of a valu8b.on carriad out at 12 March 2021 by Carter Jonas Surveyors, who are not connected with the Foundation. The valuation was made on an open market valuè basls by referenc lo market eMden¢e of transaction price5 for similar prtspertie$. 2025 2024 Freehold Lon9 leasehold Short leasehold 364,780 364.780 13 Fixed a$ut investments Llstèd Investments Co$t or valuation Al 1 April 2024 Addrtions Valuation changes 10,437.096 151.284 (467,3421 At 31 March 2025 10,121,038 Carylng amount Al 31 March 2025 10,121,038 At 31 March 2024 10.437.0 14 Debtorn 2025 2024 Amounts falling due within one yoar: Other debtors 39,199 49,200 -20-
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Debtors IC)nllnuèdl 2025 2024 Amounts falling du• aftèr MO than one ar. Other debloTs 279,517 325.801 Tot•1 debtorn 318,716 375,001 1S Creditors: amounts falling due within on• year 2025 2024 Accruals and deferred incomè 7,572 12,020 16 Designat•d fund$ The income ftjnds of the carty indude the followin9 dfrslgnaled funds which have bean sot aside out ol unrestricted funds by the trusl*&s for specAfic purposes". Mov•mtnt in lunds Incomlng ro8ourc88 Balancè at 1 Aprfl 2023 Balancè at 1 Aprll 2024 Tran$l•rs Rovaluat6on8. B•lance at galns attd JI March 202S 1055es Hinchingbrooke House contingeney fvnd 100.0 100,IJOO 50,000 (1,90n 148,093 100.000 100,01)J 50,000 {1,9071 148,093 As a risk reduction measure. £150,000 was designated by Trustees as a reserve property fund. This has bèèn invè51ed with CCLA In Awumulalion units, and revalued lo the market value al the yeai end. 21
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Rostricted funds The incorne funds of the tharity Clude $tricted funds comprising th8 following unexpended balan¢e$ of donations and grant5 held on trust for specific purposes.. Movement in fund$ Ineomlng Rè8ourco8 R8valuaiion8, Balan¢• at resour •xpÈnded In& and 31 March 202 Eo¥se¥ 8al*nce at l Aprll Z024 Prizes fund 160,S10 14,OCO} {6,959} 154,155 Movement In funds Intomlng R•sources R•valuadons, rosourcos •xpgndgd g•lns arNI BaLant• at 1 Aprfl 20Z4 1 Aprll 2023 Prizes fund 151,238 4.517 I7.8) 12,555 1,510 151,238 4,517 17,800} 12,555 160,510 The ptizes fund is used lo fvnd prizes awarded al $thool$ by way of grants made to them. 22-
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Endowm•nt funds End¢)wmgnt funds reprgsent 88sets which must be held permanently by the Foundation. Incorne arising on the endtswmenl funds can be used in accordance with the objects of thè Foundation and is included as unrestrict8d incomè. Any capital gains or losses arising on th& assets form part of Ihg fund. Mov•m&nt In funds Resourcos Tr•nsfvrs R•valiii¢icM Balanc• al •XPgnd•d y4ln6 and 31 1th 2026 1088•8 nce at Inc¢ffilnB 1 Aprll 2024 r•sOur5 P•mianont •ndowments Endowment fund 10.453.856 283,296 {14.2001 {269.0961 1437.8491 10,016,(X17 10,453,856 283.296 114,2001 1269,096) {437,8491 10,016,Q07 Mov•mont In fund$ R88ources Transfwg Rwalu•tlon8 Bane+ •t exp•nd•d g•lnB gnd 1 Apvil 2024 1088•S Incornlng l Aprll 2023 P•rnian•nt endowments Endowment fund 9,679,C63 276.081 164,200) 1211,7J 774.708 10,453,856 9.679.063 276,081 {64,200) <211.7961 774,708 10,453,856 -23-
THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Analysrs of net a$$ets bgtsv••n lunds Unmtricted D•¥ignated R•stricted Endowment fundg fund$ fund¥ funds 2025 2025 202S 2025 Total 2025 Fund balances al 31 Mar¢h 2025 are repiesenled by.. Investment propertie5 Investments Curienl asselsl{liabilllies) 364,780 9,410.511 240,716 364.780 10,121,038 329,538 420,043 77.058 148.093 142.391 11,764 497,101 148,093 154,155 10,016,007 10,815,356 Unrestrictèd Designated Re$lricted En¢Jowmenl funds funds funds funds 2024 2024 2024 2024 Total 2024 Fund balances al 31 March 2024 are represented by.. Investment pioperties Investments Currenl 8$5els/{liabililies) 364,780 364,780 149,239 9,827,076 10.437,096 11.271 262.000 453,281 460,781 80,010 1C¥),000 540,791 11XJ,000 160.510 10,453,856 11.255,157 20 R•lated party transactlons Transactlon$ wlth relat•d parti0$ Dutlng the year the Foundation entered into the folk)wing ITansa¢lions with rèlated parties.. ing to the natu of Ihe The Hinckningbr¢)oke Foundation operatlon$ and the composition of the board of trustees being drawn from local public and privat• Sgctor organis8tions, transactions m8y takè place with organisalions in which the Foundati'on has an inlerest. AJI IransactnS involving such organisations are conducted in accordance wrth the Foundation's finanu81 regulations and norm81 procurement proeedure5. Duiing the yèar Foundation paid grants of £101,63212024.' £105.6721 to ACES Aiademies Trust. There are Iruslees in common lo b¢lh organi$8lions. ACES Acadèmi¢s Tnjsl also occupie8 propty owned by The Hinchingbrooke Foun¢Jalion on a rent free basis. -24-