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2025-03-31-accounts

Charity number: 210336

Huggens's College

Trustee report and financial statements

for the nine months period ended 31 March 2025

Huggens's College

Contents

Page
Reference and administrative details of the Charity, its Trustee and advisers 1 - 3
Trustee report 4 - 9
Independent auditors' report on the financial statements 10 - 13
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 16
Notes to the financial statements 17 - 35

Huggens's College

Reference and administrative details of the Charity, its Trustee and advisers for the nine months period ended 31 March 2025.

Directors of the Trustee Company (Huggens’s College Trustee Limited)

Mrs J Ashton, President Mr M Balfour (deceased 20 December 2024) Mr R Barham (appointed 05 November 2024) Mrs V Dodds Mr R Jones (appointed 30 July 2024) Mr D Newlyn Mr C Page Dr C Pashley Mr P Sheldon Mrs C M Sims Mr C Warner (retired 24 April 2025) Mr B Sweetland (appointed 24 April 2025)

Charity registered number

210336

Principal office

Huggens’s College Trustee Limited The Chaplain’s House Huggens’s College College Road Northfleet Kent DA11 9DL

Charity and Finance Manager

Nichodimus Kawadza

Independent auditors

Kreston Reeves Audit LLP Chartered Accountants Statutory Auditors 37 St Margaret's Street Canterbury Kent CT1 2TU

Bankers

Coutts & Co St Martin's Office 440 Strand London WC2R 0QS

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Huggens’s College

Reference and administrative details of the Charity, its Trustee and advisers for the nine months period ended 31 March 2025 (continued)

Solicitors

Bates Wells 10 Queen Street Place London EC4R 1BE

Shakespeare Martineau One Colton Square Leicester LE1 1QH DX744174 Leicester 41

Investment managers

CCLA Investment Management Limited Senator House 85 Queen Victoria Street London EC4V 4ET

M & G Securities PO Box 9038 Chelmsford CM99 2XF

BNY Mellon Fund Managers Limited BNY Mellon Centre 160 Queen Victoria Street London EC4V 4LA

Ruffer LLP 80 Victoria Street London SW1E 5JL

Sarasin Investment Funds Limited Juxton House 100 St Paul's Churchyard London EC4M 8BU

Baillie Gifford & Co Calton Square 1 Greenside Row Edinburgh EH1 3AN

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Huggens’s College

Reference and administrative details of the Charity, its Trustee and advisers for the nine months period ended 31 March 2025 (continued)

Funds on Deposit

Scottish Widows Bank P.O. Box 883 Leeds LS1 9TY

Flagstone 1[st] Floor Clareville House 26-27 Oxendon Street London SW1Y 4EL

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Huggens’s College

Trustee report for the nine months period ended 31 March 2025

The Trustee present its annual report together with the audited financial statements of the Huggens's College (the “Charity”) for the nine months period ended 31 March 2025.

Objectives and activities

a. Policies and objectives

The principal objective of the Charity is to provide public benefit through the provision of Almshouse accommodation for individuals or couples who are of good character and are prepared to sign an agreement to consent and abide by and observe all rules and regulations made by the Trustee for the due ordering of the College, over the age of 60, able to live independently, of limited financial resources, not in full time employment or self-employment and recognise that Huggens’s College is a community with Christian values.

The Trustee confirm that it has referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities.

b. Strategies for achieving objectives

The strategy adopted to meet the objective of the Charity in delivering public benefit includes providing 30 bungalows, housing 33 people, a chapel, a common room and a Chaplain & Almshouse Manager and a Lodgekeeper, who live at the College, to support the residents. The strategy also includes the Trustee charging Collegians maintenance contributions for the use of their accommodation at below market rental rates and instigating a scheme of refurbishment of almshouse accommodation in order to continue to provide comfortable and reasonably priced accommodation.

In addition, the Charity allows its facilities to be used by local community groups and other organisations when permitted by Health and Safety and other Regulations.

Achievements and performance

a. Review of activities

Morning and evening prayer takes place in the Chapel each weekday. Communion Services are held in the Chapel each Sunday and Wednesday morning. There were special services at Christmas, at Harvest, on Remembrance Sunday, for the World Day of Prayer and in Lent. The Bishop of Rochester, Jonathan Gibbs, came in October to bless and dedicate the Memorial Book.

All chapel services are well attended, with Collegians doing the bible readings. Flowers are arranged at services by a Collegian which are paid for from donations made by Collegians. The organ is played by one of the Collegians and hymns are sung at all Communion Services and at Friday evening prayer. One of retired Collegian took services when the Chaplain was on annual leave.

Services are followed by refreshments in the College Room, with cakes regularly provided by Collegians on or around the date of their birthdays. Collections at services have been donated to local and national charities and to a Christian charity in Ukraine. The Chapel collections also funded the Memorial Book and an Easter Candle Stand. Advent and Lent courses were held with up to 10 Collegians attending. A weekly bible study has been held, led by one of the Collegians.

The College Room is used every day during the year. There are weekly card game afternoons and a monthly film night. Monthly Fishy Friday is very popular. One of the Collegians organised a quiz night and two bingo nights were held, these all raising funds for the Ellenor Hospice.

A Coffee Morning was held for MacMillan in September and a Christmas Fair raised funds for the North Kent College`s work with supporting young people with disabilities towards independence.

Residents and staff enjoyed a sit-down Christmas lunch in the College Room and there was an outing to the Pantomime at the Woodville. Pancakes were served on Shrove Tuesday. The summer seaside coach outing was to Deal. Events were organised by a social committee which was co-ordinated by the Chaplain’s wife.

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Huggens’s College

Trustee report (continued) for the nine months period ended 31 March 2025

Together we helped some Collegians to celebrate their wedding in December, celebrate their Golden Wedding in January and one to celebrate her 80[th] birthday in March.

The Church Times, Kent Messenger and Saturday Telegraph are provided for the College Room.

b. Investment policy and performance

The Charity holds a diversified portfolio of investments which made modest progress in value during the year.

Financial review

a. Going concern

After making appropriate enquiries, the Trustee has a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Trustee has reviewed the reserves of the Charity. This review encompassed the nature of the major income and expenditure streams and the need to match income and expenditure. The Charity’s principal source of funds is from maintenance contributions from Collegians and investments.

As a result of this review, the Trustee confirmed that, to enable the Charity to continue to meet its objectives, to operate efficiently and to provide a buffer for both planned and unexpected costs in respect of the Charity property, the aim is to have unrestricted general reserve of two years total General Fund expenditure. A designated maintenance fund should be maintained at no more than the equivalent of five times the Almshouse Association's recommended annual transfer to a Cyclical Maintenance Fund within Greater London.

Total funds held by the charity as at 31 March 2025 were £13,091,349 of which £13,017,434 was unrestricted. General reserves amounted to £588,245. Two years General Fund expenditure is £580,693 (2025£232,129;2024-£348,564; see Note 17, pages 30 and 31) therefore, the current level of reserves exceed by £7,552 that required to meet the Trustee’s policy target. After allowing for funds tied up in designated funds, and excluding the amount held as tangible fixed assets gave free reserves of £584,309.

c. Financial review

The net expenditure for the period, before net gains/(losses) on investments amounted to £51,634 (2024: net income of £96,034).

Included in the total expenditure total of £308,172 there was an exceptional expenditure item of £76,043 relating to cyclical maintenance repairs.

At the period end the overall market value of the investments increased during the period resulting in a net gain of £44,248 (2024: Gain of £171,018).

The total fund balances at 31 March 2025, amounted to £13,091,349 (2024: £13,098,736).

The value of Land and buildings which were professionally revalued at 31 March 2023 in accordance with Accounting Policy 3 still stands at £7,360,000. There were major refurbishment costs of £38,400 relating to three bungalows which were capitalised to add to the value of the Land and Buildings.

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Huggens’s College

for the nine months period ended 31 March 2025

d. Principal funding

The Charity continues to be reliant upon the maintenance charges it receives as well as income generated from its investments and cash deposits.

e. Material investments policy

The Charity holds a diversified portfolio of investments which are managed by external fund managers. The value of portfolio investments made modest progress during the period.

Structure, governance and management

a. Constitution

Huggens's College was incorporated by Act of Parliament in 1847 and is registered as a Charity with the Charity Commissioners in England and Wales with registration number 210336.

A limited company, the Huggens’s College Trustee Limited was incorporated on 14 October 2022 and appointed by a Charity Commission Scheme from 01 July 2024 to administer the Charity. The directors of the company comprise the board which leads the charity and sets the charity’s strategy.

b. Methods of appointment or election of Directors

The management of the Charity and the appointment of Directors is the responsibility of the Trustee. Directors are appointed under the terms of the Rules, Regulations and Scheme of the Charity.

Huggens’s College Trustee Limited assumed the same responsibilities of Trusteeship from 1 July 2024.

c. Policies adopted for the induction and training of Directors

New Directors are inducted into the workings of the Charity, including policies and procedures, via the Charity and Finance Manager with an induction briefing and discussion with existing Directors.

In addition, a new Director shadows an existing Director on a monthly Charity visit.

d. Pay policy for senior staff

Introduction

This policy sets out the principles upon which the Trustee of Huggens’s College makes decisions about staff salaries.

Principles

The following pay principles are applied:

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Huggens’s College

Trustee report (continued) for the nine months period ended 31 March 2025

Policy Statement

Huggens’s College seeks to ensure that its remuneration policy and practices are compatible with effective risk management. This is done by embedding the following principles into its Pay Policy:

This policy aims to attract and retain people with the right mix of skills and experience who share the Charity’s values and are prepared to work together as a team.

Scope

This policy applies to all employees of Huggens’s College. It is owned by the Trustee. Its content and any amendments are subject to approval by the Trustee. The policy will be reviewed annually by the Finance Committee.

Benchmarking

Huggens’s College needs to be able to attract and retain suitable individuals. The need for appropriate levels of remuneration must be taken into account and will be a significant factor for some candidates. A job evaluation scheme would be disproportionate to the size of Huggens’s College. Therefore, should the need for benchmarking occur Huggens’s College will take into account pay across charities and not for profit organisations in the Kent/Sussex area. It will aim to benchmark its salaries at the median after making allowance for other benefits that are included within a role such as the provision of living accommodation.

Salary process and recommendations for salary awards

The Trustee maintains oversight and control over Huggens’s College’s salaries to ensure pay levels remain appropriate.

The approach adopted comprises:

Anyone who is subject to formal action arising from poor performance or conduct will not receive a pay increase until their performance is deemed satisfactory by their line manager.

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Huggens’s College

Trustees' report (continued) for the nine months period ended 31 March 2025

Employee Benefits

Huggens’s College offers the following employee benefits in addition to salary:

• Membership of the National Employment Savings Trust (NEST) pension scheme with the employer making contributions on the employee’s behalf in accordance with the auto enrolment requirements.

e. Organisational structure and decision making

The Trustee exercises the general control and management of the Charity.

The Trustee has given the Chaplain and Almshouse Manager the authority to act on their behalf, to oversee the spiritual and physical welfare of the Collegians, together with the security of the College.

The Charity and Finance Manager acts as financial controller of the Charity under the guidance of the Finance Committee of the Charity and also acts as the Company Secretary.

f. Risk management

The Trustee continues to assess the risks to which the Charity is exposed, in particular those related to its operations and finances, and are satisfied that systems and procedures are in place to mitigate their exposure to the major risks. The Trustee maintain a Risk Register that is monitored on a regular basis and reviewed annually.

Plans for future periods

The Charity’s properties and the grounds on the site will continue to be well maintained for the benefit of the Collegians.

Throughout this period the Trustee in consultation with Collegians and with assistance from appointed development partners have continued to work on a scheme to redevelop the site. The planning application has been submitted to Gravesham Borough Council and is awaiting determination as well as the application to be a Registered Provider with the Regulator of Social Housing. The Directors will then consider the way forward.

The Charity Commission made a Scheme changing the objects and trusts of the Charity as from 1 July 2024.

During the period Huggens’s College Trustee Limited (“HCTL”) remained dormant though the Trustees worked with their advisers on HCTL being appointed as the Sole Corporate Trustee of the Charity in their place as from 1 July 2024.

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Huggens's College Trustee roport (eontinU8dl for the nlne months perfod ended 31 March 2025 Statom8nt of Trusto0' reiponsibilitie* The Trustee 18 responsible for preparing the Trustee report and the financial $t8tements In 8Ctordance wth applicable law and Unrted Kingdom Actounting Standards {Uniled Kingdom Generalty Accepted Accounting Pradcel. The law applicabb lo chariiies in England & Wales ￿quireS the Trustee lo prepare financial statements for each finanual year which give a true and fair view of the stale of affairs of the Charity and of ils incoming resources and application of resources. induding ts income and expenditure, for that period. In preparing these fln8nclal ststements. the Tnjstee are requlr&J lo: select suiiable accounting pc4icies and then appty them consistently.. observe the methods 8nd princlples of the Charities SORP IFRS 1021.. make jtjdgmenls an(J accounting estimates that are reason8ble and prudent; slate whether appllcable UK Accounting Stsndards IFRS 1021 have been followed. sublecl to any material departures disclosed and explained in tha ffinanci81 statements," prepare the financial slalements on the going concem basis unless il is inappropriaté lo presume that the Cha￿ty wlll continue in busines8. The Trustee is responsibl6 lor keeping adequat6 accc4Jnbng records that are sufficient to show and explain the Charty's transactions and disclose wrth reasonable accuracy at any lime the financial position of the Charity and enable them to ensure that the financial stalemonts comply wilh the Charities Act 2011. th8 Chadty IAccounls and Reports) Regulati￿$ 2008 and Ihe provisions of the Trust deed. They afe also responsible for saleguardSng the assets of the Charity and hence for t8king reasonablo stops for thg pr8vantion and detection of fraud and other iffègularities. Dl•closure ol Inforniatlon to audltors E8ch of the p8r8LY¢8 are Dlrectors of the Truslee al the Ilme when th1$ Trustee report is approved has confirmed that.. so lar as that Director is aware. there Is no relevant audit Infcffliatfion of which the Charity's auditors are unaware. and that Director has tak6n all the st6p$ that ought lo have been taken as a Dlrector In or(ler to bo aw8rg of any relevant aLKlit inlormalion and to establish that the Chanty's auditors are aware ol that infomiation. Audltorn The auditors, Kreston Reeves Autlit LLP, have indicated their willingness lo continue in office. The designated Director will propose a motion re8ppoinling the auditors at a meeting of the D1￿clOr5. The audit reglslration of Kreslon Reeves LLP was transfwed lo Kreston Reeves hAJdit LLP ￿ 6 Odobgr 2025. Kreston Reeves Audit LLP were fomially appointed as auditor lo the cgjmpany on 6 October 2025. Approved by order of the members of the toard of the Trustee and signed on their behalf by: Mrs J Ashton PreS￿ent of Hugge Colkge for and on behatf of Huggens's College Trustee Limrted Dale..

Huggens’s College

Independent auditors' report to the Members of Huggens’s College

Opinion

We have audited the financial statements of Huggens’s College (the ‘charity’) for the period ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Huggens’s College

Independent auditors' report to the Members of Huggens’s College

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Capability of the audit in detecting irregularities, including fraud

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks.

Based on our understanding of the charity and the charitable sector generally, and through discussion with the trustees and other management (as required by auditing standards), we identified that the principal risks of non- compliance with laws and regulations related to health and safety, GDPR and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charity SORP 2019 and other charity legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated Trustees' and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks related to fraudulently or erroneously amending income and expenditure levels. Audit procedures performed by the engagement team included:

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Huggens’s College

Independent auditors' report to the Members of Huggens’s College

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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Huggens’s College

Independent auditors' report to the Members of Huggens’s College

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Kreston Reeves Audit LLP

Kreston Reeves Audit LLP

Chartered Accountants Statutory Auditor

Chatham Maritime

5 November 2025 Date:

Kreston Reeves Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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Huggens’s College

Statement of financial activities for the nine months period ended 31 March 2025

Note
Income and endowments from:
Donations and legacies
4
Charitable activities
6
Investments
5
Total income and endowments
Expenditure on:
Charitable activities
7
Total expenditure
Net income (expenditure) before net
(losses)/gains on investments
Net (losses)/gains on investments
Net movement in funds before other
recognised gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Nine Months
Endowment
funds
2025
£
-
-
-		 Nine Months
Unrestricted
funds
2025
£

-

177,331

79,206		 Nine Months
Total
funds
2025
£

-

177,331

79,206
 Fifteen Months
Total
funds
2024
£

600

290,948

153,050

444,598

348,564
348,564

96,034

171,018
-

267,052
267,052

12,831,684

267,052
13,098,736
- 256,537
256,537
-
308,172
308,172
- 308,172
308,172
-
-

(51,634)

44,248


(51,634)

44,248
-
(7,386)
(7,386)
-
(7.386)
(7,386)
73,915
-

13,024,821

(7,386)


13,098,736

(7,386)
73,915
13,017,434
13,091,349

The notes on pages 17 to 35 form part of these financial statements.

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Huggens's College Balance shegt as at 31 March 2025 Nlne months 2025 Fifteen months 2024 Notè Fixod assets Tangibl8 assets 12 8.066.044 7,797,571 Inv8Stm6nts 13 3.232,161 3.187.913 11,298,205 10.985,484 Currnnt a810ts Debtors 14 9.106 34,660 Funds on Deposit 15 1,721,984 1.950,865 Ca$h at bank and In hand 123,667 194.443 1,854.757 2,179.968 Credkors.. amounts falling due wrthin onè year 16 161,613} 166,7161 N•t currnnt a8s•ts 1.793.144 2,113,252 Total net aM•ts Charlty fund* Endowment funds 17 71915 73,915 Unrestricted lunds 17 13.017.434 13,024.821 Total lunds The financial statsments were approv•J and aulhorised for issue by the Trustee and signed on their behall by: Mrs J Ashton President of Huggens's College for and on behalf of Huggens's College Truste& Limited. Date.. 11. 2 The notes on pages 17 10 34 fomi part of these financial sts¢ements. 15

Huggens’s College

Statement of cash flows
for the nine months period ended 31 March 2025
Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
The notes on pages 17 to 35 form part of these financial statements		 2025
£
(29,965)		 2024
£
110,132
(269,693) (418,914)
(269,693) (418,914)
(299,657)
2,145,308
(308,781)
2,454,089
1,845,651 2,145,308

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Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

1. General information

Huggens’s College is a registered charity in England. The charity's registered address is: Huggens’s College Trustee Limited, The Chaplain’s House, Huggens’s College, College Road, Northfleet, Kent. DA11 9DL

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Huggens’s College meets the definition of a public benefit entity under FRS 102.

2.2 Going concern

The Trustee assesses whether the use of going concern is appropriate, i.e., whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustee makes this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and has concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity’s ability to continue as a going concern, thus it continues to adopt the going concern basis of accounting in preparing the financial statements.

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Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

2. Accounting policies (continued)

2.3 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustee for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2.4 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

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Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation

Land and buildings are stated at valuation. Professional external valuations are obtained at least every 5 years. No depreciation is included on land.

The Trustee consider that the Charity’s property has a residual value which is at least equal to its net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the Statement of Financial Activities.

Tangible fixed assets are stated at cost less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant and machinery - 5 to 10 years straight line basis

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable.

2.7 Investments

Investments are a form of financial instrument and are initially recognised at their transaction value and subsequently measured at fair value as at the Balance sheet date using the closing quoted market price. The Statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

2.8 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement and the amount of settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received in advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

19 | P a g e

Huggens’s College

Notes to the financial statements for the fifteen months period ended 30 June 2024

2. Accounting policies (continued)

2.12 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

3. Critical accounting estimates and areas of judgment

The preparation of the financial statements requires the Trustee to make judgements, estimates and assumptions that can affect the amounts reported for assets and liabilities, and the results for the period. The nature of estimation is such though that actual outcomes could differ significantly from those estimates.

Critical accounting estimates and assumptions:

Freehold property

The Charity has recognised freehold property with a carrying value of £7,398,400 at 31 March 2025 (see note 12). These assets are stated at their cost/valuation. The Trustee consider that the Charity’s property has a residual value which is at least equal to its net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the Statement of Financial Activities. These estimates are based upon such factors as the expected use of the acquired asset and market conditions. At subsequent reporting dates the Trustee consider whether there are any factors such as changes in market conditions that indicate a need to reconsider the estimates used.

Assets in the Course of Construction

Clause 10.26 of the SORP (FRS102) – Oct 2019 specifically permits charities to adopt an accounting policy of capitalising borrowing costs, including interest that is directly attributable to the development of a tangible fixed asset. Among other clauses it allows the following:

component of the cost in bringing the fixed asset into use. Until such time as the asset is brought into use it will be classified as an asset in the course of construction” in the statutory accounts.

4. Income from donations and legacies

Donations
Total 2024		 Unrestricted
funds
2025
£
-		 Total
funds
2025
£
-		 Total
funds
2024
£

600
600 600

20 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

5. Investment income

Bank interest
Dividend income
Total 2024
Income from charitable activities
Collegians maintenance payments
Contributions to College outings and events
Total 2024		 Unrestricted
funds
2025
£
68,685
10,521
 Total
funds
2025
£

68,685

10,521		 Total
funds
2024
£

135,924

17,126
79,206 79,206
153,050



Total
funds
2024
£

290,648

300
153,050 153,050

Unrestricted
funds
2025
£
177,111
220
Total
funds
2025
£

177,111

220
177,331 177,331 290,948

290,948 290,948

6. Income from charitable activities

21 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

7. Analysis of expenditure on charitable activities

Summary by fund type

Almshouse accommodation
Outings and events
Governance
Total 2024
Summary by expenditure type
Almshouse accommodation
Outings and events
Governance
Total 2024		 Staff costs
2025
£
58,215
-
33,752
91,966
137,816		 Unrestricted
funds
2025
£
253,116
2,990
52,066

308,172

348,564
Depreciation
2025
Other costs
2025
£
£
1,219
193,682
-
2,990
-
18,314

1,219
214,986

1,931
208,817		 Unrestricted
funds
2025
£
253,116
2,990
52,066
 Unrestricted
funds
2025
£
253,116
2,990
52,066

Total
2025
£
253,116
2,990
52,066

Total
2024
£
235,441
4,668
108,455
348,564
Total
2024
£
235,441
4,668
108,455
308,172 308,172

348,564 348,564
1,219
214,986
308,172

348,564		 348,564


1,931 208,817

22 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

8. Analysis of expenditure by activities

Almshouse accommodation
Outings and events
Governance
Total 2024		 Activities
undertaken
directly
2025
£
240,426
2,990
-		 Support
costs
2025
£

12,689

-

52,066
 Total
funds
2025
£

253,115

2,990

52,066		 Total
funds
2024
£

235,441

4,668

108,455
243,416
64,756		 308,172 348,564


222,345
126,219		 348,564

23 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

8. Analysis of expenditure by activities (continued)

Analysis of direct costs

Almshouse
accommodation
2025
£
Wages and salaries
58,215
Depreciation
1,219
Repairs
40,560
Water Rates
11,108
Council tax
5,846
Electricity
7,065
Gas consumption – The College
1,907
Maintenance and repairs to equipment
2,592
Cleaning expenses
3,644
Insurance
3,830
Upkeep of grounds
21,327
Telephone
1,490
Papers and magazines
343
College outings and events
-
Maintenance of organ
-
Age Concern Aid Call
1,263
Sundry expenses
3,095
Weekend duty rota
880
Cyclical maintenance repairs &
Refurbishment costs
76,043
240,426
Total 2024
217,677		 Almshouse
accommodation
2025
£
Wages and salaries
58,215
Depreciation
1,219
Repairs
40,560
Water Rates
11,108
Council tax
5,846
Electricity
7,065
Gas consumption – The College
1,907
Maintenance and repairs to equipment
2,592
Cleaning expenses
3,644
Insurance
3,830
Upkeep of grounds
21,327
Telephone
1,490
Papers and magazines
343
College outings and events
-
Maintenance of organ
-
Age Concern Aid Call
1,263
Sundry expenses
3,095
Weekend duty rota
880
Cyclical maintenance repairs &
Refurbishment costs
76,043
240,426
Total 2024
217,677		 Outings and
events
2025
£

-

-

-

-

-

-

-

-

-

-

-

-

-

2,990
-

-

-

-

-
 Total
funds
2025
£

58,215

1,219

40,560

11,108

5,846

7,065

1,907

2,592

3,644

3,830

21,327

1,490

343

2,990

-

1,263

3,095

880
76,043		 Total
funds
2024
£

90,725

1,931

34,390

14,192

8,214

2,879

4,060

3,973

5,594

6,111

35,415

2,598

582

4,668

367

1,986

3,280

1,380

-
240,426
2,990		 243,416 222,345


217,677
4,668		 222,345

24 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025 Analysis of support costs

Charity and Finance Manager’s salary
Chiropodists fees
Subscriptions and sundries
Organist fees
Printing, posting and stationery
Advertising
IT support inc website expenses
Architects and surveyors
Bank charges
Chaplain and Almshouse expenses
Legal and professional fees
Charity and Finance Manager’s expenses
Directors’ expenses
Outsourced payroll costs
Auditors’ remuneration
Auditors’ non audit costs
Provision of LPAs
Total 2024		 Almshouse
accommoda
tion
2025
£
-
593
1,657
800
1,869
892
926
3,348
645
27
-
-
-
-
-
-
1,932		 Governance
2025
£

33,752

-

-

-

-


-

-

-

-

5,536

196

1,462

436

8,925

1,760

-
 Total
funds
2025
£

33,752

593

1,657

800

1,869
892

926

3,348

645

27

5,536

196

1,462

436

8,925

1,760

1,932		 Total
funds
2024
£

47,091

858

1,984

1,300

2,549

-

929

7,298

1,057

110

46,258

660

5,601

744

6,900

1,200

1,680
12,689
52,066		 64,756 126,219


17,764
108,454		 126,219

9. Auditors' remuneration

The auditors' remuneration amounts to an auditor fee of £8,925 (2024 - £6,900), and accountancy services of £1,760 (2024 - £1,200).

25 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025 10. Staff costs

Staff costs were as follows:

Wages and salaries
Employers NI
Employers pension contributions		 2025
£
99,851
6,797
4.071		 2024
£

154,054

5,591

6,763
110,720 167,067

The average monthly number of employees was: 6 (2024: 6).

No employee received remuneration amounting to more than £60,000 in either year.

The total employment benefits including employer pension contributions of the key management personnel were £61,581 (2024: £89,012).

11. Directors’ remuneration and expenses

During the period, no Director received any remuneration or other benefits (2024 - £NIL-).

During the period, 10 Directors received reimbursement of expenses amounting to £1,462 in the current period (2024 – 12 Trustees - £2,481). No Annual Dinner was held during the period for the Directors (2024 - £1,793).

26 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

12. Tangible fixed assets

Cost or valuation
At 1 July 2024
Additions
Revaluations
At 31 March 2025
Depreciation
At 1 July 2024
Charge for the period
At 31 March 2025
Net book value
At 31 March 2025
At 30 June 2024		 College
Property
£
7,360,000
38,400
-		 Plant and
machinery
£

32,711

-

-
 Assets
under
construction
£

432,425

231,293

-
 Total
£

7,825,136

269,693

-
7,398,400
32,711
663,718
8,094,829
-
-
27,566

1,219
-

-
27,566

1,219
-
28,785
-
28,785
7,398,400
3,926		 663,718 8,066,044

7,360,000


5,146
432,425
7,797,571

The most recent valuation of the Charity’s Property was undertaken as at 31 March 2023 by Strutt and Parker LLP in accordance with the RICS Valuation - Global Standards 2021, effective 31st January 2022, the International Valuation Standards and the UK National Supplement 2018, effective 14th January 2019, on an existing use basis.

27 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

13. Fixed asset investments

Unlisted
investments
£
Cost or valuation
At 1 July 2024
657,103
Unrealised gain/(loss) on investments
22,028
At 31 March 2025

679,131
Net book value
At 31 March 2025
679,131
At 30 June 2024

657,103
Investments at market value comprise:
Unlisted investments in the Designated Capital Projects Fund
Other fixed asset investments
All the fixed asset investments are held in the UK.
Material investments
5,541 M&G Charity Multi Asset Fund (2024: 5,541 units)
25,122 COIF income shares (2024: 25,122 shares)
277,972 Newton Growth & Income Fund shares (2024: 277,972 shares)
577,739 Ruffer Charity Assets Trust (2024: 577,739 shares)
79,872 Sarasin Climate Active Endowment (2024: 79,872 units)
10,512 Baillie Gifford Long Term Global Growth (2024: 10,512 shares)		 Unlisted
investments
£
657,103
22,028

Other fixed
asset
investments
£
2,530,810
22,220
 Total
£

3,187,913

44,248
679,131 2,553,030 3,232,161

679,131


2,553,030

3,232,161
657,103 2,530,810 3,187,913

2025
£
679,131
2,553,030

2024

£

657,103

2,530,810

3,187,913

2024

£

657,103

511,022

633,247

970,371

293,291

122,879

3,187,913
3,232,161

2025
£
679,131
489,387
643,171
998,853
296,006
125,612
3,232,161

Note : Accumulation units held for each investment unless stated otherwise

28 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

14. Debtors

Other debtors
Prepayments and accrued income
Funds on deposit
Funds on deposit
Creditors: Amounts falling due within one year
Other creditors		 2025
£
5,859
3,247		 2024
£

28,269

6,391
9,106
34,660

2025
£
1,721,984

2024
£
1,950,865

2025
£
61,613
2024
£
66,716

15. Funds on deposit

16. Creditors: Amounts falling due within one year

29 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

17. Statement of funds

Statement of funds - current period

Unrestricted
funds
Designated
funds
Designated
property fund
Designated
maintenance
fund
Capital projects
fund
Hardship fund
General funds
General Funds
Total
Unrestricted
funds
Endowment
funds
Endowment
Fund
Total of funds		 Balance at 1
July 2024
£
7,286,085
135,540
4,937,951
10,000
 Income
£

-

-

-

-
 Expenditure
£

-

(76,043)

-

-		 Transfers
in/out
£

38,400

73,628

1,600

-
 Gains/
(Losses)
£

-

-

22,028
-		 Balance at
31 March
2025
£

7,324,485

133,125

4,961,579

10,000
12,369,576
-
(76,043)
113,628
22,028		 12,429,189
655,245 256,537
(232,128)
(113,628)		 22,220
588,245
13,024,821
256,537

(308,172)


-
44,248
13,017,434
73,915 **- ** - **- ** - 73,915
13,098,736 256,537
(308,172)
-		 44.248
13,091,349

30 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

17. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Designated
property fund
Designated
maintenance
fund
Capital projects
fund
Hardship fund
General funds
General Funds
Total
Unrestricted
funds
Endowment
funds
Endowment
Fund
Total of funds		 Balance at
1 April 2023
£
7,286,085
130,350
4,752,438
10,000
 Income
£

-

-

-

-
 Expenditure
£

-

-

-

(445)		 Transfers
in/out
£

-

5,190

185,512

445
 Gains/
(Losses)
£

-

-

-

-		 Balance at
30 June
2024
£

7,286,085

135,540

4,937,951

10,000

12,369,576
655,245

13,024,821
73,915
13,098,736
12,178,874
-
-
32,080
899,340
578,896 444,598
(348,119)
(191,147)		 171,018
12,757,769
444,598

(348,564)


-
171,018
73,915 - - - -
12,831,684
444,598		 (348,564) - 171,018

31 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

Transfers between funds

Designated property fund – The transfer of £38,400 (2024: £Nil) from the general funds represents the College Property additions in the year.

Designated maintenance fund-The net transfer of £2,415 from the general funds represents the net movement in the recommendations of the Almshouse Association to ensure the fund totals the equivalent of five times the Association’s recommended annual transfer.

Designated Capital Projects Fund – The net transfer of £1,600 represents the decision to build the capital projects fund from the free reserves available after setting off the £40,000 transferred to the Capital Projects Fund against the £38,400 relating to refurbishment expenditure which have now been capitalised as these were additions to property.

Purpose of funds

Designated Fund Property fund

The designated property fund is represented by the book value of the Charity’s property less the value of the endowment fund.

Designated Fund Capital projects

This designated fund has been established to provide for capital improvements to the Charity’s property including, but not limited to, acquisitions, major refurbishment of existing buildings and construction of new buildings.

Designated Fund Maintenance fund

This designated fund has been established to provide for cyclical maintenance of the Charity’s property, other than capital improvements. The Trustee has considered the recommendations of the Almshouse Association and have decided that it should be maintained at no more than the equivalent of five times the Association’s recommended annual transfer to a Cyclical Maintenance Fund within Greater London.

Designated Fund Hardship

This designated fund has been established in order to assist the collegians in the event of hardship with the purchase of significant items, such as replacement of appliances. It is the Charity’s intention to ensure a transfer is made to the fund to give a carrying value of £10,000.

Endowment Fund

The endowment fund represents the original historic cost of the Charity’s property which is held for the benefit of the Charity.

Restricted Fund

There were no restricted funds as all funds relating to the M&G Charity Multi Asset Fund were transferred to the Designated Capital Projects Fund.

32 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

18. Summary of funds

Summary of funds - current period
Balance at 1
July 2024
£
Income
£
Expenditure
£
Designated
funds
12,369,576
-
(76,043)
General funds
655,245
256,537
(232,128)
Endowment
funds
73,915
-
-

13,098,736

256,537
(308,172)
Summary of funds - prior year
Balance at
1 April 2023
£
Income
£
Expenditure
£
Designated
funds
12,178,874
-
-
General funds
578,896
444,598
(348,564)
Endowment
funds
73,915
-
-

12,831,684

444,598
(348,564)
Analysis of net assets between funds
Analysis of net assets between funds - current period
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Summary of funds - current period
Balance at 1
July 2024
£
Income
£
Expenditure
£
Designated
funds
12,369,576
-
(76,043)
General funds
655,245
256,537
(232,128)
Endowment
funds
73,915
-
-

13,098,736

256,537
(308,172)
Summary of funds - prior year
Balance at
1 April 2023
£
Income
£
Expenditure
£
Designated
funds
12,178,874
-
-
General funds
578,896
444,598
(348,564)
Endowment
funds
73,915
-
-

12,831,684

444,598
(348,564)
Analysis of net assets between funds
Analysis of net assets between funds - current period
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Summary of funds - current period
Balance at 1
July 2024
£
Income
£
Expenditure
£
Designated
funds
12,369,576
-
(76,043)
General funds
655,245
256,537
(232,128)
Endowment
funds
73,915
-
-

13,098,736

256,537
(308,172)
Summary of funds - prior year
Balance at
1 April 2023
£
Income
£
Expenditure
£
Designated
funds
12,178,874
-
-
General funds
578,896
444,598
(348,564)
Endowment
funds
73,915
-
-

12,831,684

444,598
(348,564)
Analysis of net assets between funds
Analysis of net assets between funds - current period
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Expenditure
£

(76,043)

(232,128)

-		 Transfers
in/out
£

113,628
(113,628)

-
 Gains/
(Losses)
£

22,028

22,220

-		 Balance at
31 March
2025
£

12,429,189

588,245

73,915
13,091,349
Balance at
30 June
2024
£

12,369,576

655,245

73,915
13,098,736
Total
funds
2025
£

8,066,044

3,232,161

1,854,757

(61,613)

13,091,349
13,098,736 256,537
(308,172)
-		 44,248


Expenditure
£

-

(348,564)

-
Transfers
in/out
£

190,702

(190,702)

-
Gains/
(Losses)
£

-

171,018

-
12,831,684 444,598
(348,564)
-		 171,018

Endowment
funds
2025
£
73,915
-
-
-
Unrestricted
funds
2025
£

7,992,129

3,232,161
1,854,757

(61,613)
73,915 13,017,434

19. Analysis of net assets between funds

33 | P a g e

Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

19. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior year

Endowment
funds
2024
Unrestricted
funds
2024
£
£
Tangible fixed assets
-
7,797,570
Fixed asset investments
-
3,187,914
Current assets
73,915
2,106,053
Creditors due within one year
-
(66,716)
Total

73,915
13,024,821
20.
Reconciliation of net movement in funds to net cash flow from operating activities
2025
£
Net income/expenditure for the period (as per Statement of Financial
Activities)
(7,386)
Adjustments for:
Depreciation charges
1,219
(Gains)/losses on investments
(44,248)
(Increase)/decrease in debtors
25,554
Increase/(decrease) in creditors
(5,103)
Net cash generated/(used) used in operating activities
(29,965)
21.
Analysis of cash and cash equivalents
2025
£
Cash in hand
123,667
Funds on deposit
1,721,984
Total cash and cash equivalents
1,845,651		 Endowment
funds
2024
£
-
-
73,915
-
 Unrestricted
funds
2024
£

7,797,570

3,187,914

2,106,053

(66,716)		 Total
funds
2024
£

7,797,570

3,187,914

2,179,968

(66,716)
73,915 13,024,821
13,098,736


2024
£
267,052

1,931

(171,018)

(19,526)

31,693
(29,965)
110,132

2025
£
123,667
1,721,984

2024
£

194,443

1,950,865
1,845,651
2,145,308

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Huggens’s College

Notes to the financial statements for the nine months period ended 31 March 2025

22. Analysis of changes in net cashflows

Cash at bank and in hand
Funds on deposit		 At 1 July
2024
£
194,443
1,950,865
 Cash flows
£

(70,776)

(228,881)		 At 31 March
2025
£

123,667

1,721,984
2,145,308 (299,657)
1,845,651

23. Related party transactions

No related party payments were paid during the year by the charity £0 (2024 - £6).

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