Hamond Ei ducational Charity Fiiiaiicial Statements foi. the year ended 31 December 2023
Hamond Educational Charity Income and F.%pendlture account foi. the year elided 31 December 2023 2023 2022 UnrestrictedEndowment Fund Fuiid TotalUiirestrictedEiidoivment Fuiid Fund Fund Total Fund Receipts Bank intei'est Prior yeai. grant IEpayment Asset and investment receipts Investsnent incoine 29.576 29,576 27.455 27,455 29,576 29,576 27,455 27,455 Total Receipts 29,576 29,576 27,455 27,455 Payinents Scerclaiy's stipend 2,500 Piofessional indemnity insurance 351 Adveitising 647 Grallts 13,518 Accountants, fees Ico IT support Mai'keting 2,500 351 647 13,518 2.500 358 503 27,509 432 35 126 126 2.500 358 503 27,509 432 35 126 126 35 221 40 35 221 40 17,312 17,312 31,589 31,589 Net i'eceiplsl(paymei)ts) 12,264 12,264 (4.134) (4.134) Cash funds bi'ouglit fonvai'd 89,103 5,724 94,827 93,237 5,724 98,961 Cash fuiids carried foiTrvard l 01,367 5,724 107,091 89,103 5,724 94,827 PAge
Hamond ducatioDal Charity Statement of financial aetivitles as at 31 Deeember 2023 2023 2022 Unrestrictedfi.ndowment Fuiid TotalUiirestriLtedEndowment Fund Fund Fulld Tntal Fulld Cash funds Barclays ¢0ininunity Savings UTB Deposit 76,367 25,000 5,724 82,091 25,000 89,103 5,724 94,827 101,367 5,724 107,091 89,103 5,724 94,827 Cost Current Value Cost Current Value Investmeiit assets St Jaiiics place fund - Endowment National savings investment 821,802 10,000 807,356 10,000 821,802 i 0,000 781,077 10,000 831,802 817.356 831,802 791,077 Page 2
Independent examiner'5 l'epoj't to the Trustees of the Hamond Educational Charity foi. the year ended 31 Deeember 2023 'I'his i'eport on Ilie financial statements of the Charity foi. the yeai. ended 31 December. 2023 is in respect of an examinatioii ¢ari'icd out in accordance with the Regulations of section 144 of the Charities Act 2011. Respective responslbllities of the Trust the e%amiDer As meinbcrs of the Haniond Educational Charity you are responsible foi. the preparation of tlie financiAI statemenls. You con.qidei' that the audit I'equittinent of the Regu121ions and section 144 of the Act do not apply. It is my i'esponsibility to issiie tliis i'epoi"t on tliose financial srateinent8 in accordance with the tei.ms of the Regulations. Basis of this report My examinauon was caij'ied out in accordance with the General Directions given by the Charity Commission linder section 145 of the Charities Act 2011. '1'1)at examillation includes a review of the accounting i'ecoi'ds kept by tlie Trust arLd a coinpai'ison of tlie accounts ivith those recoi'ds. Lt also incliides considei'ing any unusual items or dibLlosures in the financial statements and sccking explanations fi'orn you as tnJst¢es concerning any such mattels. The proceduiES undei'takcn do not pi'ovide all Ilie evidence tlial would be required in any audit, and consequently I do not express an audit opinion on the view given by tl)e accounts. Indepeiideiit examiJ)er'$ statement In connection witl) Iny exaintnation. no matter has come to my attention.. l) which gives me reasonable cause to believe that in any material I'espect the requii'ements to l(eep aeloiinting recoi'ds in accordaiice witli section 130 of the Act. and to prepai'e financial statements, wliicli accoi'd wilh tlic accoiinting recoi'ds and comply with the i'equii-ements of the Act and Regulations have not been met. oi. 2) to which, in my opinion, attention should be drawn iii ol'der to enable a pi'opei. understanding of the accounts to be reaclied. Clenshaw Minns Chai'lered Accountants 24 Mai-l<et Place Swaftknam Noi'foll< PE37 7QH Page 3
Hamond Educational Charity Notes to the accounts as at 31 December 2023 Notes l Accountiiig policies Tlie ftnancial statements are prepaled using the rcceipls and payments basis. 2 St Jame5 Place fund recoiiciliation Unrests'icted Endowment Fund Fund Total Fund Cost of original investment Sale of ovei'age investment u.ealiSed investment profit/(loss) 478.000 478,000 343,798 343,798 (14,442) (14,442) 807,356 807,356 Page 4
Hamond Educational Charity Tstee$, Report foi. yeai'_end December 31" 2023 SILUCture, Governance and Management. The Hamolld Educational Charity (tlie Chai'ily) is an unittcoiyoi'ated non-cxcinpt charity cl'eated by the cliai.ity Commission Scheme dated Septcinbei. 4 ' 1978 and amended on Novemb. 12 2008 (tlie Sclieine) The Sclieme i)rovides foi. a Tiiistee body of 9 Ineinbei's, 5 being nominated by specific outside bodies and 4 being ¢o-optcd. Foi. the year endffing December 31, 2023, the Ti'ustees of the Cl)arity wei'e.. David Wickei'son (Bi'eckldnd Council) Jacob Morton (fiom May 2023) (Bi'ecklaiid Council) Gavin Cowley (Norfolk County Council) Paiil Dai'by (from (ktober 2023) (Swaffham TC) Jill Skinnei. {fi'om May 2023) (Swaftham TC) Robin Horn (Co-opted) Robei'lo Angliilei'i (Co-opted) Dave Upton (Co-opted) Sallyanne Palmei. )January 2023) (Co-opted) (¥i'aham Edwai'ds (Octobei. 2023) (Co-opted) Fabian Eagle ceased to be a Bi'eckland nominee in May 2023. Co-optative Tiustees al'e pei'sons wlio have a special knowledge of tlie Distri¢l of Brcckland Nominated Ti'ustees are appointed foi. four year tei'ins. Co-optative Tiustees are appointed foi. five year ternis. All appointments Inay be i'e-appoiiited with the necessary pi'ovisions withit) the Seheme Objectives and Activities The Objects of the Charity as set out in the Scheme (as amended) al'e, in brief, to apply its income annually lo:
Pi'ovide financial assistance by way of gi'ant8 and oih¢i' payments in promoting the education (including social and physical) of young persoiis undei. tl)e age of 211'esiding in tlie Dists'LCt of Brcckland witli a pi'efei'ence foi. those i'esiding in Swaffliam. 2. In so fai. as incotne is not expended undci. l above, provide such.8pe¢ial benefits to schools in the District of Bi'eckland not nomially provided by the LEA oi. Academy Ti'ust. Financial Review The Chai'ity's capital assets priinarily coinpi'ise equity and cash investments of £807,356 at the end of the year in question. This fiind arises from the sale of land and buildings made in pi'evious years. They repi'esent pennanent cndowment. The Trustees invest and adjust iiivesttnent in accordance with a wiitten Investment Policy Statcincnl Inadc on May ].' 2013, whicli is I'cvicwcd anniially. The Tnjstees appointed Willgra&q Cornish Wealth Management Ltd, pai't of St James Place Wealth Manageincnt as tlieir profcssional investmei)t advisors. St James is i'egulated by the Fiiiancial Conduct Autl)ority and the Pnidential Rcgulation Auiliority. Tliis appoinlimenl is reviewed annually in aecordance with the afoi'ementioned Policy Statsment. The Ti'ustees Lesolved to i'etain that investment intact. In addition lo the capital invested as Pernianenl Endowment, tlie Charity has £10,000 invested in a National Savillgs Bond plus a Cash balance witEi Barelays Bank as shown in the attached accounts, and £25.000 invested in a 12 montlis bond with United Tnist Bank. Achievements and Pei'formance The perfoi'iiiaiice of investments duriiig tl)e year was disappoiiiling I'eflecting tl)e ovei'all financial difficulties in the world al lai'ge but wei'e in line witli oui. Policy Statement. Howevcr, the Charity reinained able ¢0 meet all calls on ils bank balances foi. funding and cany l01.w'd a sui'pliis. Tlie Cliai'ity i'emain5 coiifidei)l of ils fijtui'e ability to accept an increase in appliealions thioug]) an on-line pi'esence and by advertising in schools and local publications i'elated to educational activities. Data protection issues have been addressed and t&e Chai'ity is I'egistered with the Jnfoi'mation Commiqsioner's Office. The Tiiistees Inade grants totalling £13,518 dui'ing thc 2023 financial year piimarily to individual student applicants, all in line with oiir Charity Commission i'emit. Appi'ove aai'd of Ti'ustees, ckei'son Date