2020-12-31-accounts

Hamond Educational Charity

Financial Statements

for the year ended 31 December 2020

Hamond Educational Charity

Income and Expenditure account

for the year ended 31 December 2020

		2020			2019
	£	£	£	£	£	£
Unrestricted		Endowment	Total	Unrestricted	Endowment	Total
	Fund	Fund	Fund	Fund	Fund	Fund
Receipts
Bank interest	-	-	-	11	-	11
Prior year grant repayment	-	-	-	1,500	-	1,500
	_	_	_	_	_	_
	-	-	-	1,511	-	1,511
Asset and investment receipts
Investment income	28,196	-	28,196	34,324	-	34,324
	_	_	_	_	_	_
	28,196	-	28,196	34,324	-	34,324
Total Receipts	28,196	-	28,196	35,835	-	35,835
Payments
Secretary’s stipend	1,600	-	1,600	1,500	-	1,500
Professional indemnity insurance 320		-	320	-	-	-
Advertising	32	-	32	197	-	197
Grants	22,465	-	22,465	23,722	-	23,722
Accountants’ fees	420	-	420	840	-	840
Hire of hall	-	-	-	-	-	-
Data protection and IT support	120	-	120	60	-	60
Miscellaneous expenses	-	-	-	12	-	12
	_	_	_	_	_	_
	24,957	-	24,957	26,331	-	26,331
Net receipts/(payments)	3,239	-	3,239	9,504	-	9,504
Cash funds brought forward	77,536	5,724	83,260	68,032	5,724	73,756
	_	_	_	_	_	_
Cash funds carried forward	80,775	5,724	86,499	77,536	5,724	83,260

Page 1

Hamond Educational Charity

Statement of financial activities

as at 31 December 2020

		2020			2019
	£	£	£	£	£	£
	Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
	Fund	Fund	Fund	Fund	Fund	Fund
Cash funds
Barclays community	80,775	5,724	86,499	77,536	5,724	83,260
	_	_	_	_	_	_
	80,775	5,724	86,499	77,536	5,724	83,260
		£	£		£	£
		Cost	Current		Cost	Current
			Value			Value
Investment assets
St James place fund - Endowment		821,802	821,116		821,802	850,244
National savings investment		10,000	10,000		10,000	10,000
		_	_		_	_
		831,802	831,116		831,802	860,244

Page 2

Independent examiner’s report to the Trustees of the Hamond Educational Charity for the year ended 31 December 2020

This report on the financial statements of the Charity for the year ended 31 December 2020 is in respect of an examination carried out in accordance with the Regulations of section 144 of the Charities Act 2011.

Respective responsibilities of the Trust and the examiner

As members of the Hamond Educational Charity you are responsible for the preparation of the financial statements. You consider that the audit requirement of the Regulations and section 144 of the Act do not apply. It is my responsibility to issue this report on those financial statements in accordance with the terms of the Regulations.

Basis of this report

My examination was carried out in accordance with the General Directions given by the Charity Commission under section 145 of the Charities Act 2011. That examination includes a review of the accounting records kept by the Trust and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in any audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

• 1) which gives me reasonable cause to believe that in any material respect the requirements

• to keep accounting records in accordance with section 130 of the Act; and

• to prepare financial statements, which accord with the accounting records and comply with the requirements of the Act and Regulations have not been met; or

• 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Clenshaw Minns

Chartered Accountants 24 Market Place Swaffham Norfolk PE37 7QH

Page 3

Hamond Educational Charity

Notes to the accounts

as at 31 December 2020

Notes

1 Accounting policies

The financial statements are prepared using the receipts and payments basis.

2 St James Place fund reconciliation

	Unrestricted	Endowment	Total
	Fund	Fund	Fund
	£	£	£
Cost of original investment	-	478,000	478,000
Sale of overage investment	-	343,798	343,798
Unrealised investment (loss)/profit	-	(682)	(682)
	_	_	_
	-	821,116	821,116

Page 4

Hamond Educational Charity

Trustees’ Report for year ended December 31[st] 2020

Structure, Governance and Management.

The Hamond Educational Charity (the Charity) is an unincorporated non-exempt charity created by the Charity Commission Scheme dated September 4[th] 1978 and amended on November 12[th] 2008 (the Scheme)

The Scheme provides for a Trustee body of 9 members, 5 being nominated by specific outside bodies and 4 being co-opted. For the year ending December 31[st] 2020 the Trustees of the Charity were:

Mr Robert Anghileri (Chair) – nominated by Norfolk County Council

Mr Gavin Cowley – nominated by Norfolk County Council

Mr Fabian Eagle – nominated by Breckland District Council

Mr David Wickerson – nominated by Breckland District Council

Mr Graham Edwards – nominated by Swaffham Town Council

Mr Paul Darby – nominated by Swaffham Town Council

Dr David Upton – co-opted

Dr David Barton – co-opted

Mr Robin Horn – co-opted

Co-optative Trustees are persons who have a special knowledge of the District of Breckland

Nominated Trustees are appointed for four year terms. Co-optative Trustees are appointed for five year terms. All appointments may be re-appointed with the necessary provisions within the Scheme

Objectives and Activities

The Objects of the Charity as set out in the Scheme (as amended) are, in brief, to apply its income annually to:

1. Provide financial assistance by way of grants and other payments in promoting the education (including social and physical) of young persons under the age of 21 residing in the District of Breckland with a preference for those residing in Swaffham.

2. In so far as income is not expended under 1 above, provide such special benefits to schools in the District of Breckland not normally provided by the LEA or Academy Trust.

Financial Review The Ch3ritWs capital assets primarily comprise equity, property and cash investments of £821,116 at the end of the year in question. This fund arises from the sale of land and buildings made in previou5 years. They represent permanent endowment. The Trustees invest and adjust investment in accordance with a written Investment Policy Statement made on May 1. 2013, which is reviewed annually. The Trustees appointed Willgrass Cornish Wealth Management Ltd, part of St James Place Wealth Management as thelr professlonal Investment advisor5. St James Is regulated by the Financial Conduct Authorlty and the Prudential Regulatlon Authority. This appointment is reviewed annuallv in accordance with the aforementioned Policy Statement. The Trustees resolved to retain that investment intact, In addltlon to the capital invested as Permanent Endowment. the Charity has £10,000 invested in a National Savlngs Bond plus a cash balance with Barclays Bank as shown in the attached accounts, Achievements and Performance The performance of investments during the year proved satlsfactory and in line wlth the Policy statement with an increase in the overall fund and the Charity remained able to meet all calls on its bank balances for funding and carry forward a surplu5. The Charity remains confident of its future ability to accept an increase in application5 through an on-line presence and by advertising in schools and local publications related to educational artivities. Data protection issues have been addressed and the Charlty Is registered with the Informatlon Commissionerfs Office. The Trustees made 44 grants totalling £22,465 during the 2020 financial year to both individual student applicant5, many related to provision of laptop computers, all in line wlth our Charity Commission remit and to The Nicholas Hamond Academy in 5waffliam to assist their academic endeavours to further improve educational opportunities for their students. Appro by the board of Trustee erson Xl.oq. 2 Date