**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<br>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|<br>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|<br>Fund|Fund|
||£|<br>£|£|
|Cost of original investment|-|<br>478,000|478,000|
|Sale of overage investment|-|<br>343,798|343,798|
|Unrealised investment (loss)/profit|-|<br>(682)|(682)|
||_______|<br>_______|_______|
||-|<br>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