Hamond ducational Charity Financial Statements for thc year ended 31 Deeember 2024
Hamond Educational Charity Ineomc and Expcnditure account for the yeai. ended 31 December 2024 2024 2023 UnrestrietedEndowmcnt Fund Fiind TotalUnre5trictedEndoivment FuIid Fund Total riiind Reecipls Bank interest Prior yeai. grant repayTnent 2,202 2,202 2,202 2,202 Asset #lid investment receipts Investinent incomc 49,912 49,912 29,576 29,576 49,912 49,912 29,576 29.576 Total Receipts 52,114 52,114 29,576 29,576 Payments Seci'etary's stipend 3,000 Pmfessional indemnity insui'ance 390 Advertising 496 Grants IC),904 Accountants, fees 432 35 259 40 3,000 390 496 16,904 432 35 259 40 2,500 351 647 13,518 2,500 351 647 13,518 Ico IT support Mai'keting 35 221 40 35 221 40 21,556 21.556 17,312 17,312 Net re¢ciptsl(paymenls) 30,558 30,558 12,264 12,264 Cash funds bi'ought forward 101,367 5,724 107,091 89,103 5.724 94,827 Transfer to invcstmenl ossets (41,253) (41,253) (25,000} {25,000) Cash funds carricd forward 90,672 5,724 96,396 76,367 5,724 82,091
Hamond ducational Charity Statement of financial activities as at 31 December 2024 2024 2023 UnrestrietedEndowmcnt Fund Fund Tot8lUnrestrictedEndowment Fund Fund Fund Total Fund Cash funds Barclays coinmunity 90,672 5,724 96,396 76.367 5,724 82,091 90,672 5,724 96,396 76,367 5,724 82.091 C05t Current Value Cost Current Value Investment assets l)olicy 0000374841 Policy UT10737104 67,660 751,709 821,802 807,356 Sl James place fund - Endowinent 821,802 819,369 821,802 807,356 National savings investment United Trust Bank Bond Charity Bank Bond 10,000 10,000 26,253 25,000 26,253 25,000 873,055 870,622 831,802 817,356 Page 2
Independent cxaminei-'s report to the Trustees of tlie 14amond Edueatiollal Cliarity for the year ended 31 Dccember 2024 'l-his report on the fiiiaiicial slatements of the Chai'ity foi. the year ended 31 Decembei. 2024 15 in re.%pect of an exarninalivn carried out in accoi'dancc with the Regulations of section 144 vf the Chai'ities Act 2011. Respective responsibilitie5 of the Trust and the examiner As members of the Hamond Educational Charity you are I'esponsiblc foi. the preparation of the financial 51atcm¢nls. Yoii considei. that thc audit reqiiireinent of the Regulations and seclion 144 of the Act do not apply. It is Iny responsibility to issue this I'epoi'l vii those financial statemciils in aLcordance with the tei'ins of tl)e Regiilations. Basis of this report My examination was carried out in accordance with the Genei'al Direction5 given by the Charity Comilli$5ion undei. section 145 of the Charities Act 2011. Tlial cxamination includes a review of the accounting recoids kept by the"frust and a compai'isun olthe accounts witli tliose recoi'ds. It also includes considei'ing any uniisual items oi. disclosure5 in ihe financial statements and sceking explanations fiom you as Irustees conccrning any siich matters. The pro¢edures undeitaken do not pi'ovide all ihe evidence that would be required in any audit, and conscqucntly I do not expi'ess an audit opinion on the view given by Ihc accounts. Independent examiner's st%tement In ¢onnection with my examination, no mattel. has come to my attention.. l) which gives me reasonable causc to believe that in any material rc5PCCt the reqiiireinents to kcep accoiinting I'ecords in accordaiice with section 130 of Ilic Act. and to pirpaie financial stateinents, wliicli accoi'd with the accounting records and ¢omply with the iequircments of the Act and Regulation% l)ave not been Inet.. oi. 2) lo which, in my opinion, attention shoiild be diawn in order to enable a proper unde13tanding of the accounts to be ieached. Clcnshaw Minns Chai'lci'¢d Accountants 24 Market Place Swaftham Noi'folk PE37 7QH Page 3
Hamolld ducational Charity Notes to the accounts as at 31 December 2024 Notes l Accounting policies The financial statements aiE prepared using the receipts and payments basis. 2 St James Place fund reeoneiliation Endown)ent Flind Cost of oi'iginal investinenl Sale of ovei'age investment 478,000 343,798 821,798 {2,429) Unrealised investment profitl{loss) 819,369 Page 4
Hamond EduLation21 Charity Ti'ustees, Rcpoi'l for ycar-cnd December 31 si 2024 Structure, Governance and Management. The Hamond Ediicational Chai'ity (the Chai'ity) is an unincorporated non-excmpt charity cl'eated by the Charity Coininis%ioii SchLine dated Septeinber 4, 1978 and ainended on November 121h 2008 (the Schcmc} Tli¢ Schcinc provides fur a TrLlStee body of I I members, 5 being nominated by specific outside bodies and 6 being co-opted. For the year ending Deceinber 31" 2024, the Ti'u51¢cs of thc Charity were.. David Wickerson, Bi'eckland Council noininee Robin Horn, Co-opted Dave Upton, Co-opt¢d Sallyanne Paliner, Co-opted Jacob Morton, Bi'eckland Council nominee Robcrlo Anghileri, Co-opted Jill Skinncr, Swaftham Town Council Paul Dai'by, Swaftham Town Council Gi'aham EdW.d5, Co-opted Gavin Cowley, Norfolk County Council, I'csigned 9n12024 {vacancy from this date) Karina Horn, Co-opted, froin 911012024 Co-optative Trustees are peisons who have a special knowledge of the District of Breckland Nominated Ti'iistees al'e appointed foi. four year tci'ins. Co-optalive Ti'iistees are appointed foi. five year terms. All appoÉiilinents Tnay be re~appointed with the necessary pi'ovisions williiii the Sclicnic Objectives and Activities The Objects of the Charity as set out in the Sclieine aTnended) 8]'e, in brief, to apply its income annually to..
l. Provide financial assistaT)¢c by way of grants and othei. payments in promoting the education (including social and physical) of young persons under the age of 21 rc5idiDg in th¢ Disti'iet of Breckland with a preference foi. those residiiig in Swaftl)ain. 2. In so fai. as income is not expended under l above, pi'ovide such special benefits to schools in the Di5ti'ict of Breckland not normally provided by the LEA or Acad¢my Trust. Financial Review T])e Cliarity's capital assets pi'in)arily conipi'i5e equity ai)d invcsttneiiL8 of £819,369 at the end of the year. Tliis fund ariges from il)e sale of land and buildings made in previous yeai's. They represent perinanrnt endowment. The Triistees invest and adjust inveslinent in accordanc¢ with a wi'itten Inveslment Policy Statement madc on May l* 2013, whicli is reviewed annually. Thc Trus1¢is appointed Willgia%s Cthri)ish Wealth Management Ltd, pait of 8t Jaines Place Wealth Management as their professional investment advisors. St Janics is regulated by the Financial Conduct Authority and thc Pi'udcntial Regulation Authorily. I'his appointment is reviewed anniially in accordance with the aforementioned Policy StateiT]ent. The Tru51¢es resolved to I'etain that investment intact. In addition to tlic ¢apilal invested as Pernianent Endowment, the Charity has £26,253 invested in a United Trust Bank Bond, and £25,000 invested in a Charity Bank Bond. Permanent Endowments al th¢ end of the year in question, total £870,622. Achievements and Performance The perfoi'inance of investments during the year was satisfactoiy reflccting tlic ovei'all financial difficulties in thc woi'ld al laigc biit were in lii)e with oiir Policy Statement. Howevei., the Cliarity I'einaincd abl¢ to Ineet all ca115 on ils baiik balanoes foi. fiinding and carry forward a surplus. The Chai'ity remains Coiifident of ils fiitiire ability to accept an increase in applications thiDugh an on-liiie prcscD¢¢ and by adverliqing in schools and local publications irlated to educational activities. Data protection issues havc bccii addi'¢ssed, and the Charity is I'egisteied with the Infoi'mation Coinniissioncr's Office. The Trustees made grants totalling £16,904 during the 2024 financial year pi'iinarily to individual sliident applicants, all in line with our Charity CoTninission remit. Approved b Arf¢ boai.d of Trustees, Wickerson - 11 2oL< Dale