Hughes Education Charity
Charity Number 1194812
Trustees' Report and Unaudited Accounts
1[st] July 2023 to 30th June 2024
Hughes Education Charity Trustee Annual Report 2023/24
Table of Contents
Trustees’ Annual Report .......................................................................................................................... 3 Reference and Administrative Details ................................................................................................. 3 Objectives and Activities ..................................................................................................................... 3 Achievements and Performance ......................................................................................................... 4 Policy on Grant Making ....................................................................................................................... 4 Future Outlook .................................................................................................................................... 4 Structure, Governance and Management .......................................................................................... 5 Financial Review .................................................................................................................................. 5 Statement of Trustees’ Responsibilities .............................................................................................. 5 Statement of Financial Activities ......................................................................................................... 6 Balance Sheet ...................................................................................................................................... 6 Notes to the Accounts ......................................................................................................................... 6 Charitable Activities ............................................................................................................................ 7
Hughes Education Charity Trustee Annual Report 2023/24
Trustees’ Annual Report
The Trustees present their report with the unaudited financial statements of the charity for the year ended 30 June 2024.
Reference and Administrative Details
Charity Number: 1194812
Registered Office: Horam Flat Farm Chiddingly Rd Heathfield TN21 0JL
Trustees: Luke Hughes Rizalinda Hughes
All trustees were in position for the full year.
Bank: National Westminster Bank 250 Bishopsgate London EC2M 4AA
Objectives and Activities
The objects of the charity as set out within the constitution (14th May 2021) are:
For the public benefit to promote the education of people in full time education in such ways as the charity trustees see fit, including by:
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Awarding to such persons grants or the provision of materials to enable them to attend university, college or institutions of higher or further education.
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Provision of grants, equipment or materials to organisations providing full time education.
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Supporting and enabling the co-ordination and co-operation of educational organisations in different geographical areas with different socio-economical backgrounds.
Hughes Education Charity Trustee Annual Report 2023/24
Achievements and Performance
The 2023/24 year represented a successful year in operation for the Hughes Education Charity. The charity continued to expand its reach and made a positive contribution to the education of a number of individuals. Key achievements in 2023/24 included:
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Continued level of donations received
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Continued number of organisations engaged, with a total of six engaged representing more than 1,250 people in full time education.
Throughout the year 2023/24 the trustees have held regard to the guidance issued by the Charity Commission on public benefit. The trustees have also sought to further their knowledge and abilities in order to better carry out their roles. In the year 2023/24 one trustee completed a Master of Business Administration degree. Costs and expenses for this course were not funded by the charity.
Policy on Grant Making
A material function of the charity is to provide grants to individuals and organisations in order to enable access to education. As such the charity holds a policy on grant making, provided below:
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Grants should only be made where materials and services cannot be provided or would incur additional expense to be procured directly by the charity. This seeks to balance the level of risk with the resources available to the charity to enact its objects.
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First time grants should usually be limited to a maximum of £250 for individuals or £500 for organisations unless clear evidence is provided of the specific expenditure of the grant in advance of payment (for instance an invoice). Evidence of how the money has been used is required following award of a grant (for instance receipts and photographs of the item purchased).
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Second and subsequent grants have no specified limit, however should be made:
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Following a visit to the individual or organisation to better understand their needs and how previous grants have been used.
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Subject to sufficient evidence being provided on the use of previous grants.
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Through regard to the efficiency and effectiveness of the grant being made to meet the charity’s objects
Future Outlook
In the year 2023/24 the charity’s operation has met the aims of the trustees, which enable the foreseeable future operation of the charity and will enable the achievement of the objects in 2024/25. Based on the achievements made in this year the trustees plan in 2024/25 to:
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Provide further materials or grants to individuals and organisations (objects 1 and 2 within the charity’s constitution).
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Maintain or increase the level of funding received, above that of this operating year.
Hughes Education Charity Trustee Annual Report 2023/24
Structure, Governance and Management
The Hughes Education Charity is a Charitable Incorporated Organisation (CIO) governed according to the constitution dated 14th May 2021. The charity was established on the 14th May 2021 and registered with the Charities Commission on the 16th June 2021. The charity holds the registered charity number 1194812. Two trustees were appointed under the charity’s constitution with facility to appoint additional trustees as needed to support the ongoing growth and development of the charity in the future. The charity is managed directly by the trustees and does not employ staff.
Financial Review
At the end of the reporting period the charity is in a positive financial position, having successfully developed sufficient funds to maintain a reserve to secure future operation and operate to its objects in the following year. The charity holds a total of £13,010.59 in cash assets which surpasses the trustee’s preferred minimum level of reserves of £2,000. This level of reserve is set as it represents the anticipated maximum cost to maintain the operation of the CIO for the following year.
Statement of Trustees’ Responsibilities
In relation to the financial statements within this report the charity trustees are responsible for:
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Preparing a trustee’s annual report and financial statements in accordance with applicable law in England and Wales.
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Keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity to ensure that financial statements comply with the Charities Act 2011.
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Safeguarding charity assets in order to detect and prevent fraud and other irregularities.
Signed on behalf of the charity trustees
L Hughes, Trustee
25 April 2025
Hughes Education Charity Trustee Annual Report 2023/24
Statement of Financial Activities
| 2024 | 2023 | |||
|---|---|---|---|---|
| Income | ||||
| - Donatons |
16,000.00 | 16,875.00 | ||
| - Interest |
108.65 | 1.58 | ||
| Total Income | 16,108.65 | 16,876.58 | ||
| Expenditure | ||||
| - Charitable Actvites |
9,985.21 | 18,807.57 | ||
| Total Expenditure | 9,985.21 | 18,807.57 | ||
| Net Income/ (Expenditure) | 6,123.44 | (1,930.99) | ||
| Tax Due | - | - | ||
| Total Balance Brought Forward | 6,628.38 | 8,559.37 | ||
| Total Balance Carried Forward | 12,751.82 | 6,628.38 |
Balance Sheet
As of 30[th] June 2024
| As of 30thJune 2024 | ||||
|---|---|---|---|---|
| Fixed Assets | ||||
| - Tangible Assets |
- | - | ||
| Current Assets | ||||
| - Cash |
13,010.59 | 6,628.38 | ||
| Total Assets | 13,010.59 | 6,628.38 | ||
| Liabilites | - | - | ||
| Retained Earnings | ||||
| - Unrestricted Funds |
13,010.59 | 6,628.38 | ||
| Total Retained Earnings | 13,010.59 | 6,628.38 |
Notes to the Accounts
Principal Accounting Policies Basis of Preparation
The accounts for the charity have been made on the basis of receipts and payments in line with Charity Commission guidance: ‘Charity reporting and accounting: the essentials November 2016 (CC15d)’.
Going Concern
The trustees consider that there are no material uncertainties on the charity’s ability to continue its activities for the foreseeable future. The Trustees are satisfied that the charity’s assets are available
Hughes Education Charity Trustee Annual Report 2023/24
and adequate to fulfil its obligations for a period of at least twelve months from the signing of these financial statements.
Income
Income was generated in the year through donations, all of which were eligible for gift aid, and interest paid on the balance of funds held.
Expenditure / Charitable Activities
These include all costs associated with the operation of the charity. A breakdown of costs is provided below.
Liabilities
The charity holds no liabilities.
Assets
For the purpose of the preparation of these accounts, IT equipment is assumed to be fully depreciated in year and so not recorded on the balance sheet. In practice IT equipment is expected to have a useable life of at least 3 years.
Restricted Funds
The charity held no restricted funds in the reporting years 2023/24 or 2022/23.
Tax
The charity is not liable to pay tax on its charitable activities.
Charitable Activities
| 2024 £ |
2023 £ |
|||
|---|---|---|---|---|
| Website costs | 115.07 | 103.67 | ||
| Postage & statonary | 114.07 | 79.49 | ||
| Ofce equipment | 1221.49 | - | ||
| IT equipment | - | 1,330.45 | ||
| Grants | 8,534.58 | 15,044.22 | ||
| Travel | - | 2,289.74 | ||
| Total | 9,985.22 | 18,807.57 |
Hughes Education Charity Trustee Annual Report 2023/24
None of the trustees have been paid any remuneration, been employed, or received benefits from the charity. Based on the activities listed above the charity’s main activities are summarised below for 2023/24. These were:
| for 2023/24. These were: | ||||
|---|---|---|---|---|
| 2024 £ |
% | |||
| Actvites to maintain the CIO | 229.14 | 2 | ||
| Provision ofgrants | 8,534.58 | 85 | ||
| Verifcaton ofgrants | 1,221.49 | 13 | ||
| Total | 9,985.22 | 100 |