harlty Rg16tratlon number 1188401 IEn9land and Wales) THE HINCHINGBROOKE FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 THE HINCHINGBROOKE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trust••s r P Cox. Chair of Trustees. fcqmtrr Govemor of Sl Pews SchcA)I Mr A Hunter. Principal of Hinehingbrookè School Mr M Joyner, former Gov8mor of Hinchingbrooh School MrA Butler, R8pi8sentin9 Hunlingdon Almshouse Charity Mr J L8aver. fomier Governor of St Pet8fs Sch￿1 Mr T Wheeley, Teacher tyl Hin¢hirvJbrook¢ S¢h¢)ol Miss L Insklp, Govèmor of Hinchingbrooka Sch￿1 Mr P Sadler, Govemor of St Peterfs School Mrs C Oucket, Business Manager of Sl Pelerfs Schod Mr M Pinder, Vice Prinrip81 of Hinchingbrtsokèsthool Mr Nicholas Morfey. Director ol Education. Horizons Trust Ms Rebecca Gre19. Hoadtoach8r of Spring Common Academy (Rosigned 15 July 20261 (Rèsigned 1 April 2026) (Appointed 18 March 20261 (Appointed 16 Juty 2025 and rg5i9nod 19 November 20251 Charlty nurnber 1188401 Prln¢lpal address cjo Hlnchlngbrooke Schwl Brampton Road Huntingdon cAm￿ldgeSh￿re United Kingdom PE29 3BN Auditor AzetsAudit se￿ICes W&stpoint Lynch Wood Peterbomugh Cambridgeshire United Kiwjom PE2 6FZ Sollcltors Rowhomes The Incubator (y)nbury Enlerprfse Campus Huntingdon Cambridgeshire PE28 4XA Investm•nt CCLA Fund Managers Limiled advlsors One angel Lane London EC4R 3AB THE HINCHINGBROOKE FOUNDATION CONTENTS Pag• Trustees, rerxirt Slalemant of Trustees, responsibilities Independent 8uditorfs roPQrt 8-10 Statement of financial actNilies 12 Balance sheet 13 Notes to the finandal slal&m8nts 14-26 THE HINCHINGBROOKE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2026 Thè Trust88s present their anThJal report and finanrAal statements for the year ended 31 March 2026. The finani¥al statements have been prepared in accortlance wlh lh8 ¥Gwunting policigs out in note 1 to Ihg rinancial slalements and comply with the FouThdation'3 gtsv8ming doeument, the ChartbÈs Ad 2011 and "Accounting and Reporling by Charfties.. Statement of Recommended Practic8 8ppli¢ablg lo charities preparing their accounts in accordance whh the Financial Reporting Standard applicable in the UK arKI RepuNic of I￿land IFRS 1021" (effective 1 January 20191. Objtctive$ 8nd aetivttTrÈS Policies and objtsetivés 11 is the p)I￿Y of the Tnjstees to provide benefits in accordants wth th• 04•cts of Thè Hir￿hin9broOke Foundation and to have regard, $0 f8r as possible, to maintsinlng Ihe value of the ¢apllal of the Foundation In the Interests of futura as well as current beneficAaries. Trustees budget on a Wnserv8￿yO basis, soeking to match expenditure to annual income. Where grants in excess of annual income have been awarded for large scale building projects, prior arranoements have been made wth the Charfty Comm1s5ion for replacement of capital 60 used. In additlon, Trustees have agreed advance5 of annual grants from unrestricted reseryes lo assist capital r•novations. b. Actmtses achièvlng rtjjectrves The HinchiThJbTooke Foundatlon Is a gTant*lving educaix)nal charlty. Funding 18 provKJed to Hlnchingbrooke, St Peter's and Spring Common sthools and lo local vojuntary organisations working for the benefit of young people in the HuntirrfJdon Brea. The Trustees award bursariès to ylmjng pèoplè urKlèr thè aga of 25 who havè ait8nd8d a school or collèg8 in thè Hunlingdon area for al le8St hvo years to 85SlSt with thoir educolon and development. The Trustees have paid due regard to guidance issued by the Charity commi￿10￿ in deciding what adNities the Foundation should undertake. c. Grant making policies The Trustoes have a ¢olle¢twe responsibllity to &nsure fvnds are disbursed approprk4tely. Grants award&d tr> Secondary sch¢)ols and further educati(>n ¢ollèg$$ in Huntingdon may provide special benefits of any kind for the school as may from lime lo lime be determined by ils goVer￿)r5. Truste85 may award Hinthingbrooke Sthool not more than one4hird of the net income for the year. Trustees generally consider oppeals from local voluntary organisations trom Written applications and reports of their activitias. Support for organisations wothng for and wth young peoF4e assists the education, devolopment and 11-bging ol young p*opl• outsidè school. THE HINCHINGBROOKE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Achievements and perfomiance a. Investment policy and performance Th& Foundati<7n's quotod invastmènts ara man8g8d by CCLA on 8 Diwetion8ry Investment Management S8rvi¢¢. A$ at 31 M8r¢h 2026 the tX)rtf¢lio is 96% invested in the Common Investment Fund and 4.10 in Ihe Property Fund. CCLA m8n8ge four portfolios namely the Permanent Endowment. Unrestricted, Restricted Fund for Prizes and The Hin¢hingbrooke House contingency fund. The value of thè funds dacraasèd by £824,3431£467.343 prior yearl to £9.321m1£10.121m in prior yearl The T¥ustees have a balanced attituds to risk and are therefoie prepared to accept investment risk in order tr) achi9ve Ihe longer-term objectives of tre Foundation. The Purpose ofthe Pemianent Endowment Fund is to mainlain and enhance the real value las me8surod by CPI) in perpetulty. The Trustees are happy tts re¢eive the natural in¢om¥ yitrld ol th¥ und¢rlying inv•$lmer)Is held In the portfolio. Thè capital from tha fund cannot bè usèd to fund èxpènditurè. The purpose of the Unrestricted Fund and Restricted Fund is lo rnainlain and enhan￿ the real value la$ m&8$ured by CPI) over the longer-term 110 + years). The Trustees are happy to receive the nabjral income yièld Of the underlying Invgslments held in the portfolio. The capiial from the fund ean be used to fund expendlture. Th8 oblecuvè ol èach portfollo is to achiève 8 rèturn of CPI + 4Qk per annum nel tsf fèes on 8 &ye8r rolling basls. There IS an annual income largel of £30CI,000 from ltte combined portrolios. which is reviewed by Trustees annually. The Destgnaled Fund (created March 20251 is Invested In Accumulation Units with the automatic relnvestment of income earned from Ihe underlying portfolio . The capital from the fund, subject to Trustee approval, can be drawdown by Hlnchingbrooke School only for repairs an(J malntenance to Hln¢hingtr*ooke House. See under Flnancial Raviaw a. Resèrves policy. Totsl resources arising to the Found81ion in 2025126 were £313.221 Iprior year £309,069). A 3Yo rètum w88 achieved on the rnarkel value of holdings al the year end. There were rn changes to Ihe Foundation's investrnent land holdings during the year. of £364,780. No value is attributed to the School site as no value could be r8ali$ed. Details ol the investments of the Foundation at 31 March 2026 and of the movements during the year ènded on that dale will be found on pages 21 the Ntst8s 13 and 14 to thè FinanGial Stslements. During the yèar the CCLA portfolio undèrpÈrformed all relevant comparators and benchmarks. As a dirèct ¢on5equence the valuè of the Foundation's fund has declined and has not grown in line with the Trustees, expeclalior)s. The Trtjslees continue lo monitor the perfomiance of the portfolio very closely. Regular reports aThJ meetings are held with CCLA. and the investment strategy remain under active review to ensure alignment wlth thè Foundation's charitabl@ objectives. b. Charft8blè contrlbutions £234,877 of incom8 was dlslrfbuled a¢￿sS a rangg of schools, local voluntary organlsatlons and indiwduals in th8 Huntingdon area including.. 64 individual bursaries to students to assist wth their education in the sum of £23,887 9 grants lo local groups including Fusion. Kite Trust. Huntingdon Gym. Huntingdon Youth Theatre and Hinchirbgbrooke Scouts of £36.233 To Hinchingbrooke School. St P•ttrrfs School and Sprlng Common Acadèmy grant payments ol £136,257 10 allow the respethve schools to provlde addlbonal bengfits and 8sslstan¢e forthgir sludènls. £12,125 across Hlnchlngbiooke School, St Peter's School and Spring Common Academy as Hardshlp Fund 8ursMry paymènt to help students with unexpecteil costs such as transport or unrforms £20.000 of thè Hinchingbrooke School grant was retained as capital repayment on a current loan advance of £73,000 for various projects al the School. The advance is due for repayment in 202812029. An advance of grant of £50,000 was made to St Peter's S¢￿￿ in May 2022 for the refijrbishmgnl of an oxisting building to provide additlonal teachSng faciliues. This advance of grant has been fully r¢pald, with the final dedl￿tiOn of £5,1501£150 interest on the balance) from the 202512026 granl allocation. THE HINCHINGBROOKE FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Flnanelal rnvlèw g. ReseNes poll¢y Other than noted bebw it is the cuThent policy to disburso thè annual ineomtr in line ￿th the objectives and grant m8king policie5 of the charity. As such it is not the intention to accumulate a level of reserves other than to ensure the ability to repay the £14,200 repayment to the delerred grant account as notgd under Icl below. Follo￿ng the change ol status of HSnchingbrook6 School from Local Authority cc￿l[011ed School to Academy in 2011 and the subsequent 125-year lease from the Foundation lo the school for Hinchingbrooke Hous* it vrds agre&d Ihat a propgrty fund of £100.0￿ wa$ dasign8ted, from Unresth¢ted Fun(Is. for drawdown if requirgd lor repairs to Hinchingbrogke House. Trusteés 8grè&d to incraasa Iha fund tts £150,000 from Novemb?r 2024 and to create a Designated Fund ￿vested in Ac￿mUlation Units. b. Manag8m&nt and administration Incom? in 202512026 gxcgedgd gxpgnditure18xdudlng th8 cosls of ca￿tal repayments) by £13,161. In¢om& wa$ 1.3% higher 8nd charitable expenditurè w8s 6.6% higher than in the previous year. Resources used for govtrrnan￿, dministr8tion. property mavilenance and insw8n(x of the Found8tion £32.430 vgrsu8 £32.450 in the previous year. c. Bulldlng grants In 1997 the Charity ComMis￿On 8Uthorrsed Trusleeg, use of Permanent Endowment funds to ext$ThJ 8 £1 millbon Local Authority building programfflg whiGh was complgtgd in July 1999. Thg Foundation's Gapital Gonlribulion of £850,IK)O 13 being replaced from annual incom8 over sixty Yea￿ in a¢cordance wth Charity Commissh)n requirements. This cornmgnced in 199912000 with a payment of £12,200. Frorn 2000101. annual payments are made at the rale of £14,2CIO for 59 years. The current bal8nce is £217,28412025- £240,716) Slru¢tur•. gov•m•ne• and m•nag•mènt The Trustees who served durfng the year and up to the date of signature of the financial statements were.. Mr P Cox. Chair of Truste8s. former GovenKir of St Peta￿S School MrA Hunter, Principal ol Hinchiwbrooke Schxjl Mr M Joyner, former Governor of Hinchingbrooke School MrA Butler, Representing Hunlingdon Almshouse Charity Mr J Leave*r, fomièr Gov6mor of St P•terfs School Mr T Wheeley, Teacher al Hinchingbrooke School M1s5 L Insklp, Govemor ol Hinchingbrooke Sch¢)c4 Mr P Sadlèr. Governor of St PètÈrf$ Sd)ool Mrs C Ducket. Business Manager of St Pete¢s Schcol Mr M Pinder, Vice Principal ol Hinclingbrookeschool Mr Nichdas Morfey. Director of Education. Horizon8 Tru3t Ms Rebecca Grèig, H•adté8ehÈr ol Spring Comm¢)n Academy (Resigned 15 Juty 20261 (Reslgned 1 Apdl 2028) IAppointed 18 Marth 20261 IAppolnted 16 thjly 2025 and r8signod 19 Novemb8r 20251 THE HINCHINGBROOKE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 a. Constitution The Hinchlngbrooke Foundation's charity registered number. address of ts principal office and names of all Its trusle8s are detsiled on the adrninislrative details pages of Ihese finandal siatements. The Foundation is a Ctt•rit•ble Incorporated Organisation {CIOI approved by the Charity Commission in Mareh 2020. The Charity Commission approved the transfer and legal til￿ of the investments and land from Ihe Offlclal Custodian to thé CIO on 8 Junè and 19 JLJne 2020 r•spectively. The Constitution of the Charty slates a financial contribution to tha Sl John's AlmslK>usè Charity is required to be made after which the Tru$taes may apply Ihg nel annual income after 8dmlnlstrafjon expenses in the followirKJ manner.. In P¥OVKling Sp￿la1 benefits of any kind for Hinchingbrooke Schod not eXC￿d1￿j on& thlrd of nel annu81 income.. In provlding other education b&nefits for young p8ople under thè ag8 of Iwerty-five who live in Huntingdon. Godmanch8sl8r and th8 neighbouring arèa. This may bè discharged by making financial awards to enabla Ihem to lurther their education or to voluntsry ¢rganisations in the area whose objecls are compatible with thosg of the Found8lion.' In prowding special benefits of any kind for any other Secondary School serving the araa. b. Method of app)inlment or election of Trusts•s The management of the Charity Is the rosptsn$ibility of the Trustees who have been etected under the temis ol thè CIO. Trustè85 ar8 nominated by the Chairrnan of Trustees and appointed fcK a term of four years by r•solution of the Trustèes. The Trustee body comprises between seven and twelve Trustees including the Prin¢ip81 of Hin¢hFngbTooke School. one School Governor from Hinchlngbrook& School and one rgpresenlative Irf available) from Sl John's Almshouse Charity in Hunb"ngdon. Other Trustees are drawn from local community org8nisations and schoolsl collegès who Sgrvg in g pgrsonol ￿pac￿ only. No person shall act as a Trustee until he or she has signed a declarat￿n of acceptance and of willingne$$ to ad in the CIO. On appoinlmenl, Tnjstees receive regular reports on Ihe managem¢nl ol Tho Hinthingbrooke Foundation finances and the legal requirements ot Trustees who develop thair knowlèdge and understanding through personal study and peer gfC4JP disDJssion al Trustees m¢etingS. At the end of the year the Trustèe Body consisted of one Trustee nominated by the Trustees of the St John's Alrnshousg Charlty." The Principal of Hinchingbrooke School. One School Govemor from Hinchingbrooke S¢ho¢l and eight other arwointments made in accordance with the Constitution. c. Pay policy lor senior stafl.. The Charity does nol èmploy any staff directly and therefore has no svch policy. THE HINCHINGBROOKE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 d. Organisational Structu￿ and deC￿lOn m8klng Trustees agree lo meet three times a year to con5id9r appeals rècaivèd ffom Èligible local ¢tMnmunity organlsationg and to reV￿W the investment and disbursement of Foundation funds and managemÈnt tsf property and farilities. In add￿tsn, Tiugtees have appointed a Bursary Commltlee lo ojnsider, three tirnes a yeaT. applicatK•ns for grants / bursariès from individuals A Foundation Managemont Cormiitteè from among them can be convened to consider issues on b8half of the full body, as necessary. In August 2011, the Twstee$ agreed tèrms a 1•8sè lo Ihè Atrademy ser￿1 of the property tiwned by the Foundation for a period of 125 years, hav(rtg first commissioned a Report undOT Sgction 3611) of the 1993 chari￿*s Act from Chartered Surveyors, Carter J¢na$. in respÈet of thè dispostlion. This Rèport concludèd that a transfer of propety maintenance and repair responsibililies from the County Councll to th6Academy Foundation did rK)t ￿￿ce the Foundation In a worse position than before the disposition. In exercising their responsibiliti$$, the Foundation Trustèès have a duty to enswe that they avoid any conflict of inleresl or duty th￿r rdos as Govamors ol Hinchingbrooke School, St Peter's Schod or Spring Common. The Trustees appoint a Manager to &Jminlster the Foundation. The cuirenl Manager, k4r A Hender80n. whose appointm&nt was confimied by the Trustees for a further 3 years from 1 July 2024, has resigned th èffect from the 31 March 2026. The appointment of a new Manager, Mrs Carolyn Ducket. was confirmèd by Trusteès with a start data of 1 April 2026. The Foundation ManageVs r8sponsSbilltles Include all aspects of governan(x and financlal management ACES Academies Trust. a Mulli Academy Trust (MAT) formad In January 2018 to rèF4ac¢ the fomi8r Academy. It was agreed, following legal 8dvice. that ￿ changès wèra rèquiréd to thè l&as6 arrangèménts th Hinchingbrijoke School. which continues to occupy the school property on 8 125-year lea$&. The ACES Acadèmias Tnjst merged with the CAM Academy Trust on 1 January 2026. The CAM Academy Trust rèplacèd ACES Acadèmias Trust as tenant from this dale. The terms and conditions from the 2011 Lease •nd Supplgmentsl Agreement continue Bs before for the CAM Academy Trust. It was further agreed that 9rants to HinGhin9brook• School would be lor the exclusive benefit of that school and not the CAM Academy Trust. tr. Ri¥k manag•mtrnt The Twusleos have as$¢$s¢d the major rlsks to which the Charity is exposed, in particular Ihose related to the operations and finances of th8 Charty, and arè satisfied that systems are in place to mitigate exposure to the major risks. The capacity of the Foundation t9 su$tsin its grant-awarding lunction is largely dependent on the income flow from ils investments. In assessing external risks, thg Truste85 8gr$6 an annuÈl budget lor gwants in th• light of expected income. monitor income and expenditure throughout thè year And wviaw Ihair Risk Règigter And investment and reserves policy annually. Internal risks are minirnised by the irnplgmentation of Pr￿edur9$ for xuthor4shtion ol all transactions and by the annual statutory audit conducted. AccoUnt￿g proce55es aTe sel out in an opèrats.ons manual. Risk of dgtgrioration to the propety estate is mitigated by sieps taken by Tru8tge8 to assist the S¢hool in its responsibilitigs. Audltor In accordance with the ¢ompanYs a￿¢10$. a rasohjtion proposlng that Azets Audit se￿Ces be reappolnted as auditor of Ihe u)mpany wall be put at a Gèneral Meetlng. THE HINCHINGBROOKE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Dlsclosure of Inforniatlon to audltor Each of the Trustees has confimied that Ihere is Th) information of which they a￿ awa￿ whrch is relevant to the audit, but of which the a￿ltOr is unaware. They hava further eonfirvned that they have taken appropriate steps to entify such ￿levant infom)at*)n and to gst8blish th81 the auditor is aware of such infom)at*)n. The Truste ' report was approved by the Board of TnJst88S. Cox. Chair of Truslèès, formèr Govèmor of St P8le¢s Sthool Trnst•• Date.. . THE HINCHINGBROOKE FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILrriES FOR THE YEAR ENDED 31 MARCH 2026 The Trustees are respwsibl8 for prtrparing th9 Trustaes, Rèport and the finanual statements in aceordaneè vrith appIl￿ble law and United Kingdom Accounling Stsndards (United Klngdom Gèn8rally AceÈptèd Acctsurtting Practice). Thè18w applIca￿ to chariti.es in Engtand and Wales requires the Trustees to prepa￿ financial stateN*nts for each financi81 y•ar which glvè 8 true and falr view of the state of affalrs of the Foundation and of the Incomlng resour¢e$ and application of resources ol the Foundation for that ygar. In preparing those financial slalements, the Trust885 aTe required to.. - sèl$ct surtable accountrng polieAes and then apply them consistenuw. - observè thè methods and principlas in tha ch8rits.es SORP., - make judgements and eslirnatss that ar¥ r8¥son#blè and prud•nt-, stste whether applicable accounting standards have boen followed. sutyect to any material dopartures dl8c108ed and explained in Ihe financial statements., and prepare the financial statements on the going concem basis unless it is inappropriate to presurne that the charity w411 eontlnue In operatS0n. The Trustees are reSFonsible for keeping sufficient 8w)unting records that disclose with ro3son8ble a¢¢ur8¢y at any time the financial position of the Foundation and enable them to ensur9 trat Ihg fin8n¢ial stslements comply wrth the Charities Act 2011, the Charity (A¢￿VntS and Reports} Regulations 2008 8nd the provisions of the trust deed. They are also responsible for safeguarding the assets of the FoU￿lat￿n and hence for taking reasonable stsps forthtr pi•v•ntion arnd detectKJn olfraud and other irregularities. THE HINCHINGBROOKE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE HINCHINGBROOKE FOUNDATION Oplnlon We have audited the financial statements of The Hinchingbrooke Foundation (the 'Foundalion'l for the year ended 31 Ma￿h 2026 which comprisè tha statement oi financial activities, the balance sheet and ￿t&S lo the financial ststements, includin9 signifi￿rnt 8ixounting policies. The financial reporhng fram8work that has b8en applied in their preparation is applicable law and Unrted Kingdom Accounting Standards. induding Financial Reporting Sland8rd 102 The Financial Reporting Standard applicable in the UK and Republic of Ire18nd (United Kingdom Generally Accepted Accounting Practice). In our ¢winton. the financial slalements.. give a true and fair vlew of the stste of the charivs affairs as al 31 March 2026 and of its Ineomkng Te80vr( and applieation of resources, for the year then ended., have baan property préparèd in 8¢cerdance wilh United Kingdom Generally Accopted Ac¢ountlng Practice,. and have been prepared in accordanc8 wlth thè Charities Act 2011. Basls for oplnlon We condtJGled our audit in accordance with International Standa¥ds on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further describèd in the Audrtor$ r6sponwbilities for Ihe audit ol Ihe financial slalernents section of our report. We are independ&nt of the FouniJ8tion in accordance the ethical requirements that are relevant to our audit ol the finanGial statements in the UK, including the FRC'S Ethi¢al Standaid, and we have fulfilled our other ethical re$ponsibililies in accordance wth these requirements. W8 balièvè that the audit ¥vidèn¢s we have obt8inod is $uificient and appropriale to provide a basis for our opinion. Conclusion5 rglallng to going concern In auditing thè financial stalernenls, we have concluded that the Trustees, use of Ihe golrg ¢on¢em basis of accounting in the preparation of the financial statements Is appropriate. Based on the work we have performed, we have not Idèntlfièd any material uncertainlitts relating to events or conditions that, individually or colleetively, may cast 519nific2nl doubl on the Foundation's ability to continue as going concem for a perlod of al least twelve months fTtsrn when the financial slalemenls are aulhorised lor issue. Our responsibilities and the responsibilities ol the Trustees with respect to going conc8m ar• déscribed in the relevant sectitsns of this report. Other Inforniatlon The other inforrnation comprises the information included in the annual r8PQrt other than financial statements and our auditorfs report ihereon. The Trustees are iespon5ible for the other inforrnation contained w(thin Ihe annual report. Our opinion on th8 financAal stal8m8nts doas not cover the other inlormation and we do not express any fomi of assurance conclusion thereon. Our responsibilty is lo read the other infom)ation and. in doing so, eonsider wh¢th$r the other infomatlon Is matgrially in¢onsi8tent wlh the fin8ncial statements or our knowledge obtsined i the course of the audit, or oth*N4ise appaars to be materially misstated, If we identify such matèrial inconsrsten¢ies or apparent material rnis8tstemen18. we are required to determine whether this gives rise to a material misstatement in the fin8n¢i81 s18temenls themselves. 11, based on the work we hav& porformed, we concludo that there is material misstalefflenl of this other inf0M￿tiOn, we are required lo report that faet. We have nothing lo report in this regard. Mattgrs on which we arg rgquirfjd to fgPQrt by exception We have nothing io report In respecl of Ihe followlng matters in relation lo whith the Charities {AcccwJnts and Reports} Regulations 2008 requir8s us to raport to you if, in our oplnlon.. the informalion given in the financial statements is inconsistant in any malgrial rgsped wilh the Tnjstees, report., or sufficlent 8ccounllng recKJrds have not been kept., or thè linancial statements arè not In agrèemènt with thÈ aeeounting records., or we have not received all the information and explanatlgns wg rgquire for our 8udil. THE HINCHINGBROOKE FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE HINCHINGBROOKE FOUNDATION R•spon$lbllltles of Trustees As explained more fully in the statement of Trustees. responsibilities, thè Trustees are responsible for the preparation of the financial sialements and for being satisfied that they give a true and fair view, and for such inlgrnal control as tho Truslè&s determine is necessary to enable the preparation of finanaal statements that ar• fwe from matedal misstatement, whelher due to fraud or error. In preparing the financial statements, Ihe Trustees are respons￿ble for 8ss9ssit￿ thg Foundation's 8bility to ¢ontinu¥ as a going conc8m, discb$ing. as appli¢ablg. matteT5 related to going eoncèm and using thè ￿Ing concèm basis of aco)untin9 unlèss tha Trustèès èithèr fv)tènd to cea8e operations, or have rK¢ realisbc ￿ternatIve bul to do $0. Audltorfs Y•sponsibiliti•s for tho audit of th• financial Slatements We have been app04nled 8$ audit￿ under section 144 tf Ihè Charftiès A¢1 2011 and report in 8ccordance wlh the Act and relevant regLslalions made or having effect thereunder. A further description of our responsibilities is available on the Financial Reporting CoUn￿1,S websrte al.. https:11 V￿.￿c.Or9.Uklaudlt0r$fesponSlbllItIes. Thls descrfptlon fomis part of o¢Jr auditor's rep￿￿. Ext•nt to whlch the audlt was consldered capable of detectlng Irregularltlos, Includlng fraud Irregulaiilies, in¢luding fraud, are inslancès of nontheompliance wlth laws and regulations. We d6sign procedures in IlnÈ wtth our rnspot)Sibll￿è$, outlinéd akx>vè ond on the Financial Reportsng Council's website. to material mlsstatem8nts in respect of irr8gulariliss, in¢lLKliny fraud. We obtain and update our undeTstsnding of tho entity. Its 8Ctlville$. Ks eontrol ertvlronm#nl. and likely lulure developments. including in relation to the legal and fegulatory framework applicable and how the entity is complying th that framework. Based on this understanding, we idenlify and assess the risks of malerial misstatement of the financial statements, whelher due to fraud or error, design and perform audil procedures responsive lo those risks, and obtoin audit evidence that Is SLffldent and appropriate lo provmle a basis for our opinion. Thls includes considèration of the risk of acts by the èntity Ihat were contrary to applicable laws and regulaticffis, inchjding fraud. In response lo the risk gf irregularibes and non-comFAiancg with laws and i•gulatK)ns. including Iraud. we dewgne(I procedures which Includod- Enquiry ol mana9emenl and those charged with goveman¢e around adual and potential litigation and claims as well as actual, suspected and alleged fraud., Reviewing minules of meelings ofthose charged wlh govemance., Assèssing the extant of complianc£ with the laws and regulations consiJeTed to have a direct material effaet on th& financia statements or the operats.ons of the entlty through enquiry and InspectM)n: Reviewing financial statamont disthsuras and t•stlng to supporting doujmentatlon to assess eomplianc• th applicable18ws and regulations. Performing audit work over the risk of managem8nt bias and override of controls, including tg$ling of journal entries and other 8djustments for appropriaténess, èv8lu8ting thè busimss raUon81è ol signlfirAnt transactions outside the normal course of ￿sIneSS and reviewing accountlrKJ estimate3 for indicatus of potential bias. Because of the Inherent Ilmltallons of an audit. there is a risk that we will not delect all irregularities, induding those Igading to a rnat*rlal mlsstatemènt in th8 financial statements or non I23.3￿) 16,3031 111.5601 1767,9291 1811,1821 1439,BOII Fund baLqnces at 1 April 2025 497,101 148,093 154,155 10,016,007 lo,815,￿6 11,255,157 Fund balanc•s at 31 March 2026 473,711 139,790 142,595 9.248.078 10,004,174 10.815.356 The statement of finanaal activities includes all gains and losses recognised in the year. The stalemtnt of finaneAal actIV￿e$ indude$ all g￿nS and losses recognised In Ihe year. All in¢omg and expendllure derive from continuing actimlies. 4• THE HINCHINGBROOKE FOUNDATION BALANCE SHEET ASAT31 MARCH 2026 2026 2025 Notes Fixed asset5 Investmènt prOpert￿S Investments 13 14 364.780 9.320.782 364.780 10,121.038 9.685.562 10.485,818 Current ass•ts Debtors Cash al bank and in hand 15 270,285 56,287 318,716 18.394 326,572 337.110 ¢r•d￿Or8.' amounts falllng du• whhln on• y•ar 16 17,9601 17,5721 Net currenl as$9ts 318.612 329.538 T¢)tal assots loss current IlablWUo¥ 10,004,174 10,815,3S6 Capltal funds Endowm8nt fvnds Income funds Restricl¥d lunds Unrestricted funds Designated fijnds General unrestricted funds 19 9,248.078 10.018.007 18 142,595 154,155 139.790 473,711 148.093 497,101 613.501 64S.194 10,004.174 10.815.356 The financial slalemenls were approved by the Trustees on . Mr P Cox, Chair of Trustees, fonner Governor of St P•t8rfs School Trust•0 13- THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Accountlng pollel•s Charity information The Hinchingbrooke FoundatKJn llhe Foundation'l is a ¢hariiable incorporation organisation. r8glstered wlth the Charty Commission, with the Charity Registration Number 1188401. 1.1 Aeeountlng eonvèntion Tht financial stslgmgnts havg been prgpargd in aGcordanGe wth the Foundation's Trust deed, the Charities Ad 2C111. FRS 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Chariti'es SORP "Accounting and Reporting by Chaiities.. Statement ol Recommended Pr8cti¢e applicable to charitses preparing their accounts in aCCordar￿e with the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. {effectlve 1 January 20191- Thè F￿ndatiOn 18 a Publlc Benefit Entity as d•fin8d by FRS 102. Th$ Foundalion has tskgri 8dvantage of the prowsions In the SORP for charities not to prepare a Statement of Cash Flows. Th8 finanaal statèmènts havè departad from thè Charities IA¢eounts and Reports) Regulations 2008 only to the extènt required to provKle a true and fw"r view. This departure has involved following the Statement ol Recomrnended Practice for charities applying FRS 102 rather than the version of the Statemènt of Recommended Practice which is referred to in the RegulatK)ns but which has sinc8 b8en withdrawn. Th& financial ststsmgnts 8rg prgpared In slorllng. whl¢h Is 11)9 fu￿tIOnal currency of the Foundallon. Monetary amounts in these financial st8t8mènts ar• rounded to th• neaiesl £. The linancial statements have been prepared under the historical cost convention. Thè princlpal acwunling policies adopted are set out below. 1.2 Golng eoncÈM At the time of xpproving th¢ financial statements, thg Trustges have a reasgnable expectation that the Foundation has adequate ￿SourCeS to continue in operational exist8nc8 for the foreseeable fulure. Thus the Trustees continue to adopt the going basis of acc￿nting in preparing the financial statements. 1.3 Charltsblè fund$ Unrestricted funds are avBllable for use Bt the dlscretk)n of the Tm$le6s In furtheran¢8 of Ihelr charitable objectivas. Restricted funds a￿ subj¢ct to spgcific conditions by donors or grantor8 8s lo how thgy may be used. The purposès and uses of thé rèstrictad funds aré sét out in the notes to the finana81 statements. Endowment funds a￿ subjg¢t to $peeffj¢ ¢(￿ditiOnS by donors that Ihg c3ptt81 mu81 be rnainl3ined by the Foundation. 1A Income Income is recognised when the Foundalon rs legally en￿tled to It after any performance conditions h8ve been met. the amounts can be measured reliatly. and it is probabl• that Incom8 wlll be rKgiv9d. Cash donations are recognised on receipt. Other donations are recognised once the FoundBtion h8$ been notified of the donation, unless p￿fornianGe conditions require deferral of the amount. Incom& tax rgcoverable in relation lo donations r8caiv8d under GiftAid or deeds of covanant is racognised at thè b.me of thè donation. Legacies 8re recognised on receipt ￿ othenyise rf the Foundotion has been notified of an impgnding distribution, the amount is known, and recAipt is axpected. If Ihg amount is not known. tha lagacy Is trèated as a conlin9ent asset. 14- THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 A¢¢ountlng polld {Contlnu•d} 1.5 Exp•ndl￿rè Expenditure is r6cognis8d once there is a legal or constructive obligation lo transfer economic benefit to a Ihlrd party. It Is probable thal a transfer of economic benefits will be required in setuemenl, and the amount ol Ihg obli9allon Can be m&asurèd rolla￿y. Expenditure is classffied by adivity. Thg costs of éach activity ar¢ madè up of th• totsl of dire¢t co$1$ and shared costs, inClud￿g support costs involved in undèrtaking è8ch actlvlty. Dimct Costs attrfbutaNè tts A singlè ath'vity are allocated directty to that aclivity. Shared costs which contribute lo than one actiwly and support costs which are not attributable to a single aclivtty are apportioned belween those activities on a basis eonslstènt with the use of resources. Ceniral staff costs are allocated on the basis of time spenl. and depre¢iation ¢h8rg&s a￿ allo¢ated on the portion of the asset's use. G0￿Mance costs are those incurred in connectmjn with administration ol the charity and compliance with constitutional and $¢atulory requ1￿MentS. Charitable activities and govèm8n¢e (x)sts arè costs IncLJrred on thè chartty's educational opèralons. including support costs and costs relating lo Ihe governance of the ch8rity apportioned to charita￿e ￿t￿ltIeS. Grants payablè are chargad in tho year when the offer Is made except in those cases wheTO the offer Is eondthonal, such grants baing rècognised as expenditure when the conditions attaching are fulfilled. Grants offered subj9Gt to conditions which have not been met at the year end are noted as a commitment. bul not accrued as 8xpendrtur8. Grants fijndèd from thè èndowmènt wilh th8 permIss￿n of th8 Charity ConNnisslon on the understanding that the endowmnl will b• rèlMbUrs￿ have been treated as multi-year grants the proportlon relating to future years. fyimbursement treated as a deferred ¢osl. 1.6 Investment property Inv&stm8nt propety, whieh Is propety held to earn rentals andlor for ca￿tal appreciaticffi. is initially recognised al cost, which inGlud85 the purchasè cost and any dlrectly atlrSbulable expenditure. Subsequently It is measured at fair value al the reporting Él￿ datè. The surplus or deficit on revaluation is recognIs￿ in profit or loss. 1.7 FSx•d asset Investments Fixed asset investments are initi'ally mgasurEd at transaction price excluding transaction costs. and ara 8ub8equently measured al f•lr valuè 81 e8¢h repr&rtlng date. Changes in faw value are recognised In net incomellexpenditur81 for the year. TransactiL)n cgsts arg ¢xpor)sgd as Ineurrod. 1.8 Cash and cJ#h equlval•nts C88h and ¢ash equivalents indude ¢Ash In hand. deposits held at call with banks. other 8hort.temi liquid investments with or￿in#l maturiti&s of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in cuwenl liabilities. 1.9 Flnanclal Instrumènts Tho Foundallon has electsd to appty the provisions ol Section 11 'Basie Finan¢ial Instrumènts, and Sèetion 12 'Other Financial Instruments Issues, of FRS 102 to all of ts finanrial in$trumgnts. Financlal instrumants ara recognised in the FoundatKJn's balance sheet when the Foundalxjn become5 party to the ¢ontra¢tual pro￿S1o￿S of the instnjment. Financial assèts Brbd lièbilities are offset, wlth the net amounts presented in the financial statements. when there is a legally enforceable right lo set off the ￿COgnis￿ amounts and there is 8n intenlon to sett16 on a nel basis or to realise the asset 8nd settb the liability 5imuttanèousty. 15- THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Accounllng poll¢l8$ (ContSnued) BASIC financial assets Basic finanaal assets, which in¢lLJde debtors and cash and bank balances, are initially measured al transaction price induding transaction costs and are subsequently carried at amortised cost using the effeetive interest method unless the arrangement constitutes a financtng transaction, where the transaction 15 measured at the presenl value of the futu￿ raceipts discountèd èt a markèt ratè of Intèrèst. Financial assets dassIl￿d as recelvable wlthin one year arè not 8mortised. Baslc Ilnanclal Ilabllltles B8s1¢ fin8n¢i81 liabilities. ineluding creditors and bank loans are initially recognised al transaclw)n price unless the arrangement constitutes a financing transaction, whare th8 d6bt ingtrument is mèasur8d at thè pr85enl value of the future payments discounted at a market rat• of Int•r•st. Finxnual liabilitiès d8ssifiÈd as payable vAthln one year are not amortised. Debt inslrurnents are subsequentty carried al amorlised cost. using the effethe interest rate melhod. Trade creditors are obligat*)ns to pay for goods or s8Nic&s that have b88n acquir8d in the ordinary wtjrse of operats'ons from suppliers. Amounts payable are classified as currènt liabilities if payment 1$ due within one yèar or loss. If not. they are pr958nled as non-¢urrenl li8bilities. Trade CTedilor$ are recognised initially at trÈnsactK)n price ènd subsequently measured al amortised cost using the effective interest method. D•rKognlllon ol flnanclal Ilabllltlgs Financial liabilrties are derecognised when the Foundation's contractual obligations expir& of are di$tharggd or cancelled. Critiul accounting e8tim¥tes and judgements In the application of the Foundation's accounting policies. the Trustees are required to make ludgèments, estimates and assumptions about the carrying amount ol assets and liabiltties that arè not Tèadily apparent from other sources. The •stimat8s and assouat8d assumptions are basèd on hislorlcal èxperiène8 and other factors Ihat are considered to ba ralevant. Actu81 rasults may dI￿r from Ihesè 8stirnales. Th8 estimates and und8rlyirw assurnptions are reviewed on an ongoing basis. Revisions to accounting estimate5 are rewgnised in the period in which the estimate is revised where the revision affects only th8t period. or in the period of the revision and future perlods where the revision affects both currènt ond future periods. 16- THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Inveslments Unrv4trtctsd Restricted Endowm•nt funds funds lund$ 202 2026 2026 Totsl 2026 Rental income Income from Ilsted investments Int￿•st 5,678 285,915 5.678 305.202 2,341 14,515 2,341 4.772 16.856 4.772 291.593 313.221 LIn￿Stri¢ted funds general 2025 Restrieted Endowment funds funds Total 2025 2025 2025 Rental Irthme Income from listed investments Interest 5,698 277.$98 5,698 299.981 3.390 17.779 3.390 4,604 21,169 4,604 283,296 309,069 Exp•nditur• on ¢haritabl• actlvltles Chartlable actlvltles 2026 Charftable aetlvltl•s 2025 DiT•Ct costs Gr8nt fundin9 of &tMtsÈs IsÈa notè 5) 253.430 234.877 Sharo of support and governance costs {8ee nots 61 Support Gov8manca 24,470 7,960 24.878 7.572 2B5,860 267.327 Analysis by fund Unrestncted funds ReStr￿ed fvnds 281,680 4,180 263.327 285.860 267,327 17- THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Grants payab Grant funding Grant funding 2026 2025 Grants to InstltutKJns-. School Grants Communty grants Arts & Special Projects- Hinchingbrooke School Sl John's Almshouse Charty Prizes 145.266 35,510 12.971 10.000 4,180 136,257 36.233 12.875 10,000 4,000 207,927 199,365 Grants to indivKluals 45.503 35,512 253,430 234.877 Support ¢o$ts #llo¢atod to *ctivities 2026 2025 Accountancy and professional fees Miscellanèous èxpensès Admln f9$ Insurance Governance costs 940 973 21,000 1,557 7,g60 1,767 554 21,000 1,557 7,572 32.430 32.450 Analysed between: Charitable activities 32.430 32,450 Mat mov•m•nt In funds 2026 2025 The net movement in fvnds is stated after chargingllcr8ditingl.. Fees payabl• for the audit of the charitys ffinancial statements 7,960 7,572 Trustees None ¢f the Trustees lor any persons winecled with them) received any remuneration or benefits from thè Foundation duriro the year. 18- THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Employ••8 The average monthly number of erNloy¢•s durlNJ th& year was.. 2026 Number 2025 Number Totsl There ￿re no employees whosè annual ramunoration was more than £60,000. R8mun•ratlon of key manag•ment personnel The remuneration of key managernenl petsonngl wa$ as follows.. 10 Oth8r Endoyfflient Endowmènt funds funds 2026 2025 Deforred grant 14,200 14,200 19- I Isll- I | THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 12 T•xation The charfty Is exempl from taxation on its acti￿e$ becaLBe all ils income is applied for chaTilable purposes. 13 Inv•$lm•nt proporty 2026 F•lT value At l April 2025 and 31 Marth 2026 364,780 Inv¢stment prop91ty comprises Wistow F8n Farrn and Vbws Common. Thg fair vaue of the inv9Stm9nt propety has baèn arrived at on the basis of a valuation carried out at 12 March 2021 by Cartèr Jon8s Survgyors, who are not wnngGt¥d with thg Foundation. Thg valuation was fflade on 8n opgn market valve basis by reference to rnark￿ evidènc8 of tr8nsadion prieès for simTIAr properbe$. 21126 2025 Fraehdd 364.780 364.780 14 Fixed ass￿ Inv•stm8nts Ll$tsd inveslmgnts Cost or valuation At 1 April 2025 Additions Valuats'cffl changes 10.121.038 24,087 1824,3431 At 31 MarGh 2026 9.320.782 Carying amount At 31 March 2026 9,320.782 At 31 March 2025 10.121.038 15 Debtors 2026 2025 Amounts falling due withln on• yettr Olher dobto 34.201 39.199 21 THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2026 15 D•btors {Continu•d) 2026 2025 Amounts falllng duo aft•r mor• than onè year.. Other debtors 236,084 279.517 Totsl d•btors 270,285 318.716 16 Crèdltors: amounts falling duè within onè ye•r 2026 2025 Aceruals and deferred In￿me 7,960 7,572 17 D•$ignat•d fund$ Balanc• at q April 202S Tran$f•rs Galn$ and Balan¢e at 10ss9531 March 2026 HinchingbTooke HoLtse o)ntingew fund 148,093 113 18.4161 139,790 Balance at 1 Aprll 2024 Transf•rs Gains and Balaneè at lossès 1 April 2025 Hlnchlngbrooke House contingèney furKJ 100,000 50,000 11,9071 148.093 As a risk reduction measure, £150.000 was designated by Trustees as a reserve property fund. This has been inv8stèd with CCLA in Accurnulation units, and revalued lo the rnarkel value at the year eThJ. -22- THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 18 R•strict•d funds Thg iestridgd funds of the charity Comp￿Se the unexpended balan￿ of ¢Jonatior￿ and grants held on tnjst 8ublect to speryfic ¢¢nditkins by donors 8S to how they may ba usad. Movèment In funds Incgmkng Re¥oyr¢es re8oure•¥ expended ealance •1 1 Aprfl 2025 GJln¥ Jnd Balan¢e 4t 1gs¥es 31 March 2026 Prize Fun 154,155 4.772 14.1801 (12.1521 142,595 Alov•mont In funds In¢omln9 Resour￿% rwourc•G •xpendBd Bal*nc• at 1 Aprll 2024 Galns and lostse Balane• at 1 Aprll 2025 Prize Fund 160.510 4.604 14.000) 16.9591 154.155 160,510 4,604 {4,0001 16,9591 154,155 Thè PrK* Fund is a restrScled fund with the annLtal Income used lo provde prizes for Hinchingbrooke School only. THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 19 Endowm•nt fvnd$ Endowment funds represgnt a$sots whlch musl be helij permanenuy by the Foundation. Income arlsing on the endowment funds can be US￿ in ac￿r￿anCe with the objects of the Foundation and is included as unr¢slriGted in£orne. Any capital gains or losses arising on the assets fomi part of the lund. Movement in funds R•50urcgs Tr•n$f oxpended Balance ai l Aprll 202S Incornlng G•ln8 and Balah¢* at 10s*èts 31 March 2026 P•rmanènt tndowm•nts Endowmènt fund 10.016.007 291.593 114,2001 {277.3931 1767.929) 9.248,078 10.016.007 291,593 114.2001 1277,3931 1767,9291 9,248,078 Movemont In funds Tra￿1•Y¥ Balance at 1 Aprll ZC124 Inwmlng r•90urc•8 Galn8 and Balance at 1 April 2025 oxpend•d P•mian•nt •ndowmÈnts Endowment fund 10.453.856 283,296 114,2001 (269,0961 1437.8491 10.016,007 10,453,856 283,296 114,2001 1269.096} 1437.8491 10,016,007 .24- THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 20 Analy$lg of n•t ass•ts betw•en funds UnTe$trict8d Dès•gn8t•d R•strlet•d Endowmènt fundB funds fund¥ funds 2026 2026 2026 2026 Tot•1 2026 Fund baL4ntss at 31 March 2026 ar& represented by.. Investment propertles Investments Current assetsllliabililies) 364.780 130,385 8.666,015 12,210 217.283 364,780 9,320,782 318.612 384,592 89,119 139,790 473,711 139,790 142,595 9,248,078 10,004,174 Unrestrfcted Oesignated Restricted EndowTnent fvnds funds tund5 funds 2025 2025 2025 2025 Total 2025 Fund balances al 31 March 2025 aro represenled by: Investment prDpwti¢s Investm&nl$ Currant asseislOiabilities} 364.780 9,410.511 240,716 3fA,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 21 Related party tr*ns8¢tions Transaetlons wlth related partles During the year Ihe FOundat￿n entered into the following transactions wrth related part*s.- 25- THE HINCHINGBROOKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 21 Relat•d party transactlons IContlnu•dl Owlng to the naturè of the The Hinchingbrooke Foundation opèration5 and the composition of thè bctard ol trustees being drawn from local public and privatè se¢tor organisations. transactions may take place with organistttions in which the Foundation has an interest. All transactions involving such organisatlons arè nducled in accordance with thè Foundatlon's financial regulations and normal procurèmènt procedures. During the year Foundation paid grants of £109,79212025: £101.6321 to ACES Academies TrusL There are truste85 in cornrnon lo both organisations. ACES Académias Trust also occupied property owned by The Hin¢hlngbrts)ke Foundation on a rènt frè& basis during the year. ACES Aaad8mies Trust was thg tenant until January 2026 when tha CAM Academy Trust be￿me the tenant. There are no Twstees In common b8tw8èn the Hinchingbrooke Foundation and The CAM Ac4d8my Twst. -26-