Docuggn Env￿QPP ID. NCF4121-02DA4AE1-BgS84A77FCCE278C
Charity re8isifaiion number-. 293623
E.Ivor Hughes Educational Foundation
Annual Report and Finantlal Statemènts
for ihe Year Ended 81 Augu512024
Kipe LLV
Charlered Accountant5 dnd Re¥i5tpred Audi1015
Yurrough5 Gardens
London
NW44AU

Du￿bIg￿ envelo￿ 10 04GP4 121-OEDIF4AE I-B956-6A77FbGE218G
E.l¥or Hu6hes Educat40nal Foundation
Content5
RelerEnce and Adtnini51rative De.18i15
Trustees, Report
2107
sraiemeni of Trusiecs, Responsibilities
Independent Audiiors. Report
9t012
11tn1a
Balance Sheet
15
31atEtllEni of Cash Flow5
Na1£5 to the Finaricial StaleftTrents
171029

DoCu￿g￿ Env￿0￿ ID 04CF41?1-0?DA4AE1-B9584A77FCCE278C
£.Ivor Hughes Educational Foundation
Rpfp.rp.ntÈ and Administrative Detai15
Tru5tee5
Mr5 L D Grimes
Mf R J Llrock
MI J CviLuI
Mr A R Olins
Secretary
Mr QM Paulion
Prlt)dp31 Olfi<e
159 R3yn@r% L3n4
Middlesex
A5 50T
The charity is incorporated in England and WaSes.
IYISYYS
Company Registration Nvrnber
Charity Re&stration Number
293623
Solicitors
Capital Court
30 Windsor Street
Uxbrid8e
Middlc4¢X
UB8 IAB
Audllol
Ripe LLP
Chartered A£counlan15 and Registered Audiior5
QA Riirrniieh£ fiardpns
London
NW4 4AU
P380 I

DoGu%gn Env￿ope ID. Q4CF4121-02DA4AEI-B958*A77FCCE278C
E.Ivor Hughes Educatlonal Foundatlon
Tru5tee5' Report
Tho iru51ees. who 3re diieciors for ihe puip05e5 of company law, pre5eni the annual report to8eihor with the
financial 5tatoments of the charit3ble tompany for the year ended 31 August 2024.
Tl)v fiiidiiLi41 yidleiiiviiis iumply wlth the Charlties ACI 2011, the cornpanies ACI 2906, Ihe Memoranoum an
Article5 of A550ciation, and Accounting and RepoitinE by Chariiie5.' Statement ol Recommended Practice hpplicable
10 chaiilie5 prepèrinB their aicounts in accordance wilh the Findnci21 Rpportin¥ siand3rd applic3ble In Ihé UK ènd
Republic of Ireland IFRS 1021 (effective l Jdnuary 20151.
Q¥jeaives and activitie5
oojects urm5
On 9 JaDuary 1986, the late Einesi Ivor HuEhes bequeathed in hi5 Will the re51duary of his Estate. Includine Ihree
schools to the Foundation.
The Foundation's objeciives are to prornoie and provide foi th¥ of education to children in ih
Uniièd Kin8dorn and elsewhere.
There has been no change to the objectives during the year.
The School operate5 as 3 charitable companv limited bv guarantee who's Articles of Assotiation intlude the rulp£
for appointmont of GovÈrnorÉ, all of whorn are truptees of the Charity and directortr of tho Company.
The Foundation's objeciives are io promote and providp for the 6dvancement of education to children In tho
United KinBdom and elsEwhere. The Govefn015 are responsible for seiiin8 a sirèieby Io dthieve the Foundation'5
objective5
Objettives, 5tmtegies ondactlvlries
The Foundation coiitinues 10 operate 3 bov5-onlv preparatQTr School in Pinnor. Middlesex. We continue to look lor
fiirthor opportiinitiel within thÈ #octor, includin8 activoly sookin8 partners to work with so th3t each party ¢3n
financial asslstanco 10 5t Alban5 Church in Pinner, Middlesex so that their outreach 3nd music c(lucaiion
programmos can rernain In p13ce for anoihor year.
Publtc &¢iiefit
The irugtL'es confirm that Lhey have cotnplied with the reguirements of Section 4 of the ChoriliLa5 Act 2011 tv Iidve
due regard to the public benefit Euidance pub115hed by the Chdrily Comm155ion foT Ene13nd and W35es
Gmnr mokirtq policie5
The Vdlue o15cholarships, bursdries and olhef award5 rnade to the public out of unresiriEted lund5 In the year was
£98,18212023.. É98.3191. such aw4rd5 bein8 al the discietion of Ihe Governing Body.
PaEe 2

Docu$￿￿ Envelope10 04CF4121.02DA.4AE1.B958.6A77FCCE278C
t.lvor Hughe5 tducailonal Foundatlon
Tru5tee5' Report
Financial review
Ouring the financi61 year, Ihe Chariiy received income of £1,648.902 12023.- fl,666,3961 and ha(1 annual
expenditure of El.640,10212023'. £1,620,098) giving a surplus of the year of E8,80012023.. £71,298).
The Fouftdation's principal asseis are its propÈrtie5, intludin8 the freohold propertie5 occupi￿￿ by the sihools
which is stated ai £1,327,665 12D23.. £1,327,665) in the account5. These are rhe premises from which tho
Foundation provide5 It5 edvcationsl services. In the opinion of the Trusteos, tho market value tsl Ih05È propertie5
Jro noi logg than ihe v31up at which the proportics afe show in iho accountr
The Charity has a series ol investment properties, includine a commercial school property and five resideniial
properiie5, which are stated at a value ol £¥,825.(M)0120E3-. £8,B25,0ffll In the 3ccounis. In ihe opinpon ol the
Trustees, the maFkvt value Df those propertigs are not le55 Ihan Ihe valuv ai whith the prupertie5 ale show in the
arcounis.
Policy on ieserves
The GovErnor5 believe that the Foundaiion should maintain sufficieni finbncial resÈrve5 10 enable the Foundation
to megi ih4 f1sk$ 3nd uncqrt3intios of opeT3tinB schools. This objethive IS kepi under peliodit ieview.
As 0131 Augu512024, the Charity had reserve5 of £10,742,62512023. EIO.733,8251. Endowinent funds represent
16% 01 total funds 12023.. 16%). The use of the endowment fund ha5 been restricted by the donor and the
tndowmont fund wa5 created from ¢he Esiate ol Ernest Ivor HuBhe5 as dirccled by hi5 Will on hi5 demise in 9
Jdnuory 1986.
fjoing concern
The Governor5 have concluded that Ihe current level ol reserves, along with secured overdraft ènd loan faciliti￿,
are ai present syllicient to cover the operating risks and uncertainties and are adequate to tultil the FoundatlOn'5
current obligations. The Eoine concern basi5 h3S thprpforp bp.p.n adoptpd in rhp%p finAnrixl %txtgmpni< Arp
considered to be 3ppropriate foi the period of at least 12 monihs from thc date tsf si8ninE those financial
sratemenis.
Structure. governance and management
Noture ulgovernlng document
The Foundation 15 a company limiied by guaranree Eoverned by it5 Memorandum and Articles ol Association daied
9 J3nu3ry 1986 and 3mendp.d foT r.urrpntgnvprnAnrp nn ?? April l•qg And ?? laniiary JOOa
PaRe 3

Docusion Énvelwo ID 04CF4121-020A-aAE1-B95B-6A77FCCF?78C
E.Ivor Hughes Educational Foundation
Tru%tp.p.s' Report
Arrongement5forsettin9 key munuuemenrper50nn¢lrernunerntson
All Governor5 give freely ol Ihoir lime and no remuneration was paid during Ihe yeaT. No Govcrnor DF person
connected with a Governor feceivod any benetit Irorn either moans iesied bursaries or schoiarsnip5. The
Governor5 attach Rreat importance to Safeguarding arrangeTnent5, Pastoral caro and ensuring thar the SchoDIs'
teachine meets and continue5 to moot pupils. needs. in order Ihat all pupi15 roactt Ihoir full poiontial.
rrangeM￿lS aic in placo for 5Qttin8 the romuneration of key mana6emonl PL'rsonnel and, the board has taktn
into consideration bpnrhmirk Irifnrmxtinn And thg mxrkpt pay ff)r Ihpip rolps. This exercise. together with (he
overall remuneration of other personnel, forms part of the board'5 dnnual salary rcvicw, which takc4 plart part
ol the b￿dget process. The l￿aIr ot tsovernor5 nas ootainea séfer recruitrnent irhinin8.
Or8ani5ational stru¢ture
The eoverDor5. who are also tru51ee5 of the charilv and direciors of the cornp3nv. who served durinK the year
were..
R l Brock
R 01in>
J Corcut
Governors are appointed by the FoundatiQll'5 Govornin8 Body. who are thcmselvtss 8overnors.
None of the governors ha5 any benefitial interest In the company.
Aron, R J Brock, A R Olins and Lynn Grimes are mernbers of the compèny and guarantee to contribuie El In ihe
event of a winding-up.
£vLJry sovernor of the Found3tion Eh311 b￿ indvmnilio£l out of Ihp lunds of ihg FoLindJ110n 3E3ingi 311
Lhrfiigys. Iussvs. (IdrTi4g¢s alTd vxpenses whicli ihey shall re5peclivdy incur on any mailer done or perrnittEd by
Ihvni in Ihe bon8 fsde execuiion of their respectivÈ officÈs and sh851 bp rpimbursed by Ihe foLJndalion lor all
r03&0nablp inriirrpd hy thpm nn Any IpeAI prnrppdingi nr ArhiiraliDn nn accounl ol the Foundation or
olhcrwi5t. In the bong ride execution ol thcir rc5PCCtivc offiCtJ.
The Governors form The Governing Body which Should consist of not less than 5 nor more than 20 persons
appolntcd Irom rime to lime by ordinary resolution of the company or by notico in writin8 10 Ihe cornpany signed
Goveinors are also the Charity truslees. and are responsible tor the ovefall managemeni ano conirol of Ihe School.
The Governor5 meet a5 a Board at least three lime5 3 year with more work being undertaken throughout Ihp yeor
in conjunciion with the Senior managemeni ream. There 3re Governors wilh Individual responsibilitie5 such as
Sale£uardinE and Health & Saleiy.
PaBÈ 4

Docu$￿n Ellvelop811) 04CF4121-02DAJAE1_8958_6A77FCCE278C
E.Ivor Hughes Educatlonal Foundatlo
Tru5tees' Report
Risk management
The GovErnor5 aro r￿SponSibl￿ for the overseeing of the risk5 f3ced by the School Tho detailod con5idcration5 of
risk are aeiegarea To The senior Managemeni i eam or Ime scnooi. NIskS are iJeniifie¢, assessea and conirois pur In
place throvEhout the year. The key contro15 Used by the Foundation include..
• Monitofing of pupil intake and retention on a termly basis.
Budge.Iing and budgvi respon51bi1Sty.
AuihnrisAtian prncprtiirps.
Sol¥¥udrdln& Includln¥ ungulng review of pollcy ano iermly rewiew by Ihe Govefnof5 ai their meeiln¥s.
• A P¥OaClive Health & Sofeiy ptrlicy, èlon8 with onRoinB idpntification, audit and implemÈTriaiion procf.dures.
Regvla¢ reJiew ol rel¢vant logislaiion, includin8 oxltrnal 5uppori from rotoEnised professional bodies wilhln ihe
cducatioDal occtor.
• Reguiai iio¥einors meetings, iai leasi ierrnlyl, to ieview all aspecis Of Ihe business.
Tho prtseni Labour Bovernrnont has carried out their throat to imp05Q $16nlticJnt tox Increases upon tho
independL*ni schvpl 5pdor. Vat ha5 been levied on 51hovl fee5 at a rate of 20% from 1st liTruary 2025. Frotn l51
April the 80% chariiable rates relief wa5 Withdrawn and there ha5 been an increase to employer5, national
The addition ¢fvAT to school fees is be B severe blow the fflany parents who have children within the independent
sector.. our paren15 are no different and the Tru51ees took Ihe deii5ion lo lirnil Ihe January 2025 lee Increase to
lo￿. This decision will rpquire the Found3tion provide fin3nci31 Support to Iho sihDuI durinB thv first acadomic
by other independeni School operaioTS. The Foundaiion is fortunaie ¢0 hav@ reserves 10 call upon whlch wlll
pnsuie the smooth it)trodtsction of Ihese financièl change5.
Uur parents have apprcciated tho posilion which the Foundation h35 takcn and have nol seen a reduction In
curreni pupil numbers. We aro monitoring closoly the pupil numbers for September 2025 and at present there has
The Govornors are committed to ensuring thèt we continue ro provido oducbtional opportunities and are
pxpAnding Ihp Ec.hnlArqhip oppnrtijnitipg fnr npw piipilq. Affnrd3bility is an important factor and thÈ Governors will
be41 thi5 in mind whcn s¢itinÈ Iht fces for Ihc ncxi a¢ademic year. Buckineham Preparatory School currently
offers the mosi competitiv¥ fee5 Wlthin out ared.
The Governor5 feel that supportiD8 the school throuEh the ￿se of finarnci31 reserves an appropri31e action to take
durlng lh¥ Inltldl perloo oladdirional c0515 levied by Ine pre58ni Governrneni.
The Governors continue to meei regularly and will ¢¢niinup 10 ofler r1exib￿litY lo trur parents Ihrou8h VLJr rnonthly
payment option, which haa ¢Ontinuci to bc popular 6nd ha5 helped to eliminate bBd debt5.
Our school continues to achieve excellent academic results and our iDve5tment propertie5 provide an ongoing
source ol additional fund5.
Page 5

DOCU5￿rt EnvelDP@ ID O4CF4t21￿?r)A￿AEl-B9S8-sA77FccE278C
E.Ivor Hughes Educational Foundation
Trustees. Report
Key management personnel
The Governor5 consider that they, iogeiher with the Head Teacher, Bursar and s￿nier Manasemeni Tearn
tnmpriEp thp kpy managemÈni ofihe School.
Or8anisational management
The Govern015 detertnine the general policy of the Srhool. The day lo dèy runnine of Ihe School 15 delegaied io thp
Head Teacher. SUPPOfted by the senior sialf. The Head Teacher Ljnderiakes the key leadership role oveiseeing
.t)ff. Th￿ io day
drnini51ration of Ihe School Is undertaken within Ihe policies and procedures dppivv¥U by Ilir fjove.riiof5.
Financial mdndEemenl IE carrip.d oui by the Bursar, in consultation with the Head Teacher and sEnior siatl, wilh
only significdni expe.nditure dec1510ns and major capital projecis bein8 referred 10 Ihe Governors fol prior
approval.
Achievement and performance
Bucklngham Preparatory Sthool
We were very proud ol our Year 6 boys. who havp once again received ouisianain8 ulf¥15 IIVITI dL4Jriilically
seleitivp %¢hoo15. including places at some of Ihp. tDP academically seleclive grammar schoo15. The. boys have dlso
bven <iwarded seven scholdrship5 ac<oss a fangE ¢1 independe.nt schools. These were granted for academic
achievement, mu51c. and personal lutoring.
In oddition to the full school curriculum, we have ¢ontinued to offor a wirtp r2n8p nf Aftp.r-school clubs. These h&ve
included debating Ilubs. uviz club5, craft. mindlulnoss. STEM, and lifo gkills. Wo also rnaintaiThod clubi run by
specialist teachors, including choss. musical thoaire, and judo. This year, we were pleasod to expand our ollerinB
to inclvde Jdditional coding and ICT. 35 wpII Ag Art Hnd Design.
we havL' IVIILiiiueU Iv ullL*r a brogd ran8e of re5ideniioI trip5 throu8hout tho yoJr. ThesÈ have inrliirtpd rAfflpine
trips to Hudn311 Park, a5 well as a city break ro York lor our Ye3r 5 puyi15. Tu Ivui)J off their time In primary
Year 6 will also be Boin¢ to Dorset in lune for a week ef outdoor learning and team-buildinc acii¥itie5.
li nas Deen a busy year, which hd5 IIiLluJvd diiulliri 5ucre55ful IApre5)ivc Art: Weck with the thomo of folk tilos.
a5 well as an enRap.inR and active Bvgk Week. A5 (ilway5, we ensured Ihai Inese eveTrt5 IFILludvd vveiy Iiiei)Iber or
Ihe school communiiy. from PrP-School lo YÈar 6. We have a150 exiended our outreach 10 pasi pupi15. who we
welcomed back for aur ljrsl alumni event.
In ihp Pprformine Arts. we staeed sever31 successful Inlènr and Junior play5, incluuing an exceiieni iunlor 5rhuu
production of Aladdin. This ye3f, thÈ boys were involv•d in writin8 *ind dirÈttin2. as well as creaÈinR props. scenewy*
3nd front.of-houyE design.
PAep

DOCUSlgn ￿nVe1¢￿É ID 04LP4131-02DA4A&1-895&6A77FCCE278C
E.Ivor Hughes Educatlonal Foundatlon
TfUStees' Report
The boy5 have coniinued to impress us in thtyr LAMDA examinations, earninÈ over 40 ccriificaies so far this yeor,
wilh more exams schtduled lor th¢ summor. They have taken a range of exarn5 Including Verso and Prose. Publii
Sptakin& Reading for Performance, Actin& as well as a Shake5poar@ qualification for Year 6 pupils and
ITTrLivduLLUly Exdm5 fur pup115 F¢eception 10 Year 2.
Our boys have once aLyain excelled academic311y. with 18 pupi15 bchievlng ar least a 6r0fi2e Ceriiflcate In the
Prirnary Maths ChallenEè
many of rhern &15Q attaifjinE Silver. In 5pori. the boy& CDntinued to PeFforrn wgll In
competiiions. ¢omiDg fir51 in a recent [￿SbY ioufnameni and taking home the cross-country cup ilianks tty onv
Qnce a8aii), we l)avr suvvuittij uui iY¥uloI 111oiilirJ
World Menial Health Day - raising a iotal of over £2.000 for these causes. The Foundation has also plèyed a kev
necd.
Yhp hnyE hAvg contlnLiÈd to Improgsod u5 Wlth their gx?minat1On5 Jnd h3v• bg•n ovor AO
Certificates so far this yedl. with additional exam5 scheduled for the summer. They've completed these In a range
of eiatn5. Verse and Pr05e, Pub11c spei4kin& Reading lor Pefforrnance, Aciine, as wtrll ds d ShdkE5peare
qualification for Year 6 puDils and ihe Introductory Exam5 lor Reception
Yeai 2. Our boys have once again
excelled ac3demically and 16 of Our pupil: havc achieved a minimum of a bronzc ccrtificJte in thL. Prim Jry Math5
Clidlleii¥e. Wilh Illdny puplls belng able to achleve 511vei a5 well. on Ih2 5poris 51de, Ihe boys coniinued playing In
compeiilions comin6 2nd in the Inter 5chool'5 aihleiics iournament, as well ès placing 4th in the locdl Schools
swimmln8 8ala at John Lyon school.
unce aE31n, we supported our regular charities, Red Nose Day, Harrow Food Bank, Children In Noed and world
Mental Health rai5in8 a total ol over £2.000 lor these causes.
Dlsdtssurtr ol informolion to audltoy
Each trustee has takon steps Ihat Ihey ought to have taken as a trustee in order to make themselves awaro of anv
relevant audit Infrjrmaiion and 10 establish that the charity'5 auditor is aware of that information. The trustoes
confirm that there i& no relevant information thai they know of and of which they know the audilur is unaware.
Reappollltment of audlTor
The audiiors Ripe LLP are deerned io be reappointed under seciion 48712101 the Companie5 Act 2006.
28 May 2025 1 IQ=26 85T
Th• •nhual fvport was approved by the trusteetr of thc chority on
nd uigned on it: bchalf bv..
Mrs L D Grimes
PaRe 7

Docusign Envelope Iu u4LF4121-U2UA-4AEI-￿Ys￿4AKKFLL&278C
E.Ivoi Huglies Educatioi)al Foundatioii
Statement of Trustee5' Responsibilities
The trustees Ivwho ore alsD thc diTectQTS of E.Ivor Hugh?5 Educational Foundation for the purposes of comp4ny
lawl ore rcsponsiblo foi preparing the trustces, report and thc financial siatemenis In Jccordance with the United
KinEdom Accountin8 Stèndard5 (United Kingdom Generally Accepied Accouniing Praciicol and applicablo Ibw and
Company law requirès Ihe trusteP5 to prepare financial 5tatemgnts for each financial year. Und*Y compiny law Ihe
tfUStee5 rnusi noi approve Ihe financial statements unle55 they are 5arisfied Ihat Ihey give a Irue. an(1 fair view of
the stale of affairs ol the charitable cotnpany and of its incoming resource5 3nd èpplicaiion of resource.s. including
its income and oxpenditure, for that period. In preparing these financial staLemonts, the trusiees are rcqui<od 10-.
select suitable accounlinp. policies and aDDlv Ihern ionsi5tentlv.'
005erve Ihe methoos ana principles In the Charitie5 50RP,-
rnakeiudgemenis and ostimatos thar are reasonable and prudent,.
513te whL'lhi'r appliEDblc UK Accountin¥ Standard5 have been followed. subject to any rn&terioI drparture5
prcparo tho financial statements on rho 8oinE concorn basis uTrle55 It 15 inappropriate to presume that tho
charitable company will continue in business.
chBrilable company'5 transactions and disclose wilh reasonable èccuracv at anv timp the financial Dosltion of the
chariiablè iumpany and pnAble Ihem 10 ensurp that the financial s13ternent5 comply wilh Ihe Companies Atl 2006.
They dre dlso resporisible for sdfegudrding Ihe a55e15 01 the charitable company and hence for taking re4sonable
step5 for the preveniion and detertion of fraud and oiher irregulèrities.
7025 1 10..26 OJT
and Signed on it5 beh311 by..
Approved by the trustees ol the charily on
1StskiAI62JYA2................
Mrs L D Grime5
Tru51ee
Page 8

Dviwiyii &ivvIv￿ ID. LWCf4121-02DA4AEI-B9JMA77FCc￿T8c
l.lvor Flushe5 Iducational Foundation
Independent Audltor's Report to the Members of E.Ivor Hushes Educational Foundation
Opinion
We have audited the linancial staiements ol E.Ivor Hughe5 Edvc31ional Foull(Jaiion Ithe 'chaiity'l loi the Veiir
Éndeu Ji AU8U51 2UL4, wnicn comprise the Statetnent 01 Financial Activities, Balance Sheet, Staiemeni ol Cash
Flow5, and Notos io Ihe FinanciBI St3tement5, Including a summary ol signilicani accountinE policies. The financial
roporiins fratllework thai has been applitd in the￿r proparation 15 United Kingdom Accounting Standards.
compri51ng charit￿e$ SOAP- FPS 102'Tho Financial Roportin% Standard applicable in the UK and Republic ol Ireland.
and applicable law (United Kingdom Generally Acceptcd Accountine Practi£ol.
In our opinion Ine financ￿al 5taterneni5'.
then ended,
have been properly prepared in accordance wilh united Kinedom Generally Accepted Accounting Pr3Ctice,- and
have been preparcd in accordJn¢c with ihc rcguirtmcntJ of tht Companic5 Act 2006.
Basis fot oplnion
Wp. condur.lpd oijr 311dit in 2rrnrd2nrp wirh IntprnAtinn31 !t3nd3rd5 on Auditin8 IUKI Il£ts& IUKII and applicable
oi rne rinancial 513temontS Section oi Dui report. We are Inoopendent ot the charity in accordance with the ethical
requirement5 that arc relevant to our audit of tlie financial statemenis in Ihe UK. includinÉ Iho FRrys Ethical
Standard, and we have fulfillcd our other tthical rospon5ibilitics in accordance with Ihesc rcquircmcnts. We
Con£luslon5 relatln8 to 8olng concern
We havo nothing to report In respect of the following matters in felalion to which the ISAS IUKI requirc us to
Ihc fruJleLS Uac of the 8oing Concern bo513 of accountin8 in iht preparation of the finaiicial 5tateiiien15 15 noi
appropriaie. or
the trustees h8ve noi disclosed in the financial 5tatemenL5 any Identified materlal uncoriainties that may last
sIBnificaDI oouni aDOUt Ine cnèrity's aoility to continue to adopt the going concern basis Ot accountinB tor a
period of at least twelve months from the date when the fin3ncial 5tatemen15 are authorised for Issue.
Other inlormatlon
ifie Iru51pes are responsiDie for thp other Intormation. The other Inloim3tion comprises the inforrnation included
rinancial slalernenis doe5 not cover the oihor l￿forMation and, excepi to the exteni E>lhpfW15e explicitly stated in
our report, we do noi expres5 any form of assurance conclusion Ihereon.
Page 9

DocLNgn Envelo￿ ID 04CF4121-02DA4AE1_8958-6A77FCC￿78c
E.Ivor Hughes Educational Foundation
Indepen(lent Auditor's Report to the Members of E.Ivor Hughe5 Educational Foundation
In connecrion wilh our audit of Ihe financi31 statemenis, our responsibility is to read Ihe othÈr informaiion and, in
doing $0. conside¢ whelhoi the other InformaiiorTr is materially inconsistent with the financial 513ternents or our
knowledge obiained in thc audit or otherwise appear5 10 be maierially mis51aied. If we ideniify such material
Inconsisiencie5 or appareni rnaieriai missiaiements, we are requireo to (Jetermine whether there Is 3 material
mi55tatement in Ihe financial statements or a material mi55taiemeni of Ihe other Inloimarion. 11, based on Ihe
work we have performed, we concludo that there 15 a rnaterial mi55tatemertt of this <Jiher irtformdlion. we ￿re
required to iepori that fact.
W@ have nothing io report in this reBard.
Oplnlon on oTher m31rers prexribea by Ihe LompaniesAa Lvub
In our opinion. based on the work undertèken in the course of the audit..
the inlDrmation Riven In the Trustees, Report for the financial vear for which the financi31 statemenis are
prppArpA ifi con5lStont With th￿ financia1 st3t¢mgnts,' and
the Trustees, Report has been prepared in accordance wilh applicable legal requirements.
Matters on which wg ar• r•quiY4d to rthport by gx¢gptipn
In rhe Iighi of our knowiooge anu under513nding of Ihe company ana Its en¥ironmeni olltaineo In the course ol the
audil. we have not idenlified maierial misstaternents in the Trustee5' Report.
We have noihine lo repori in respect of the following matter5 where the Companies Aci 2W6 reouires us to report
to vou il. in our opininn..
adequate accouniinR records have not been kept. or returns adeouaie lor our 3udil have not been received
from brantheg not visited by us,. or
the financial slètement5 are nor in agreement with the accounting records bnd returns. or
certèin disclosure5 01 Irusteeg re.muneration specified by law are noi made,. oi
WL have rerelved all Ihe InformaTion anu expsanarions we require for our audit.
Responsibilities Trf trM5tee5
5 oxplainèd more fully in the StJtement OF TrutrteQ*' Rt:
14Ct out on PDgc 81. thc truJttrCS Ort
view, and lor such IntÉrnal control as the trustees dotermine is nottssary to enable the preparation of financial
sioicmen15 that are free from m?rerial mis5talemont. whethor due to fraud or error.
a going concern. di4clasing. a£ 3pplirAhlp mxttpr< rplxtpA tn BninE rnnrern and uginB the 80inu Cont￿r￿ b35is or
èlternaiive bur io do 50.
Pagpin

DOcus￿n Envelope ID 04CF4121-020A4AE1-B958-6A77FCCE278C
E.Ivor Mughe5 Eduiationiil Founddliu
Independent Auditor's Report to the Members of E.Ivor Hughes Educotional Foundation
Avdltorfs responsibilities for the aud¢t of the finan¢ial statements
Our obieitive5 are to obtain reè50nablv assurance about wh8thei Ihe financial 5t3iefflÈni& as a whole are free
Irom maierial misstaiemenl, wheiher due to fraud or error. and 10 issue an auditor's report Ihal includes our
opinion. Roasonablo assurance is a hiy,h lovol of assurance, but 15 not a EuafilnttÈ that an a￿di1 conducted in
accordance WiLh ISA5 IUKI will alway5 detect a rnatorial miss131erneni when it exists. mis51alomon15 can arisc frot
fraud or orror and aro considered maiori31 if, individuolly or in the JggreEaie. Ihcy iould reasonably bÈ oxptctod to
intluence Iho cconornic doci510ll5 of u5or5 takon on tht basis of these linoncial staiemcnts.
A5 Part of an audit in accordance with ISA5 IUKI, we exercise prole55ional judgement and mdiniain professional
grgpllcigm IhrDii8hoLlt tho audit also.
Ideniily and assess tho risks of material mi551atomont of tho finontiol stotemonts, wholhtr duc to Iraud or
error. d¥ign perform audii procoduros rcsponsive to those risks, and obiain Judlt evidcnce IhJt Is
resulting tfom tfaud Is higher than lor one ro5ulting Irom error, as traud may Involve collu510n. torgery.
Intention81 omissions. misrepreseniations. or the override ol internal control.
We design procedures and iests In line with our respon5ibilitie5, Outlined above, to deteci material
mi55tatements in respect of irreeulariiies. includine fraud. The extent to which our procedures are capable of
We obldln an understanding of ihe legal and regulatory frameworks Ihat die applicable to the eniiiy by
rèviewing the CompAnip.E Alt 2006 and r.harilip.E GnRP- FRS102 Thp Financial RpportinE Standard appliiablp in
thc UK and Republic of Ireland,.
We make enqulries ol management and thosc chèrged wilh governance around aciual and potenii31 Iillgorion
and claims.
We rcview tinancial statement di5c105ures and test to Supporting documentation lo assess compliance.
We audit the risk ol man36ement override ol controls and evaluate the business rationale of significant
transactions ouiside the normal course ol bu51ness.
Obtain an undeY$t)ndang of inltrnal ¢Gntrol relevant to the audit order to de5i61i audit procedure5 Ihat are
appropriaie In the circumsrances, bui not for tne purpose of expressing èn opinion on the elfeciiveness ol the
Evaluate the apprDpriaienes5 01 accounting policies used and the reasonableness of accounting estimaies and
rÈlatÈd distlogures madp by thp trilgtpp
Conclude on the appropriBteness of the irusteès use of the going ¢DnreTn b35is of accounting an(1, based on
Ihe audil evidence obtained. whether 3 maierièl untÈfiaintY exlsls related to even15 or conditions that tray
¢&Sl 5i6nilicant doubt on the charity's ability to CDntinue as a goin£ concern. If we conclude Ihai a material
uncertainly ex1515, we arc rcquirou to draw attention In our auditor'5 report to the related di5closuros in tho.
financial statement5 or. if such disclosure5 are inadeouate. to modifv our opinion. Our conclu5i0ns are based on
the audit evidence obtainod Jp io the dète of our auditorf5 report. However. future events or conditions may
cause the charity r¢ cease to continue as a going concern.
Paee 11

DottU￿an Env￿0￿* ID 04eF41?1.02DAJAEI-B9584A77FCCE278C
E.Ivor Hughes Educational Foundation
Independent Auditor'E Rp.port to the Members of E.Ivor HuEhe5 Educational Foundation
Evaluate the overall prosÈntarion. structure and conténi ol the linancial statemenis. includlnE ihc di5c105ufL'S.
and whether the financial staiements represent the underlying transactions and evtsnts In 3 rnannor ihal
achieve5 fair pieseniation.
Obtain sufficient 6PPfopfiate audil cvid¢niQ re83rdin6 tho fin3ncial inform3tion nf ihp pnlitips or busines5
activitie5 Wlthin thv chariL¥ 10 pxpr*5 an opinion on tliv liiiancial 51atemenis. We are respon51ble fDr th?
direciion, 5upervisitrn ènd performance of ihe charity audit. We remain 501ely responsible for oui avdii opinion.
Wo communicaie with those char8ed with 8ovÈrnance regardinE, amonE Olher matters, the planned 5CDPC ond
Use Df trur report
This feport is made solely lo the tharitable company'5 trustees, as a body, in accordance with Chapier 3 01 Parl 16
of the Companies Act 2006. Our audit work has been und?riaken so that we mi8ht 5t3ie lo tho charity's trvsiee5
Ihose matters we are reouired to State to them in an audiiDr's report and tor no other purpose 10 Ine fuiie51
Qmtent permiited by 13w, wè do noi accept or agsumo rogpnnEihility tn Anynnp nthp.r than Iho charitable comoanv
and it5 tru5tEtt a body, for our audit work, for this report, or for the opinion5 we have formed.
RobL?rt Glazer FCA Isenior Statutory Audiiorl
Foi and on behalf of Ripe LLP. siaiuiory Audiior
9A Burrou8hs Gardcn
London
NW4 4AU
Date..
l?

Docusign Envdope ID. 04CF4121.02Dk4AEI.B958-6A77FCCE278C
E.Ivor Hughes Educatlonal Foundatlon
statement of Financial Activities tor the Year Ended 31 August 2024
Ilncluding Incorne tynd Expenditure Account and Statcmcnt of Total Recogntsgd Gains and
Losses)
UnrettrictÈd
fund5
Endowrnent
lur*ds
Total
2024
Note
Income 8nd Endowmenisfrom..
1,276,613
369,977
2,312
1.?.76.613
Invgstmeni incorn
369,977
,Y12
T¢141 Incorne
1.s48,￿2
1.648,902
Exper*diture on..
11,637.0051
12.4971
11,637,603)
12.4971
Other expenditure
Total Expenditure
11,640,102)
11.640,1021
Ntt income
8,000
8,800
Net movemont in funds
8.800
8,800
Reconcili)tion of lunds
i oial fund5 broughi forwar
Y,Ulb,21)
1.717.610
LO,733,625
Toiél funds carrivd forward
19
9.025,015
1.717.610
10,742,625
The notes on paces 17 to 29 form an integr31 part of Ihe5e financial statements.
Page 13

Docusign Envelo￿ ID. D4CF4121_02DA4AEI_895&6A77FCCE278C
E.Ivor Hughes Educailonal Fgundatio
Statement of Financial Activities for the Year Ended 31 August 2024
Ilncluding Income and Expenditure Account and Statgm•rtt of Total Recognised Gaing and
Lossesl
Llnrestricted
Endowmeni
tunds
Total
2023
Note
Income and Endowments from..
1,298,513
358,660
9,223
1.29R.513
Inw¥51m*ni incom•
358,660
9,223
Total Income
1.666,396
1.6G6.395
Expenditurè on..
11.617,3651
12,7351
1,617,3fj31
Other expenditure
12,7351
Total ExpÈnditurÈ
Gainsllosse5 on Investment assets
11,620,098>
25,000
11.620.OY81
25,OUU
Net income
71.298
71,298
Net movemeni in fund5
71,298
71,298
Reconcili?tion of funds
Toièl funds brouRhi forward
8.Y44.917
1.717.610
10.662,527
Total funds carried forward
19
9,016.215
1,717,610
10,733,825
'P aclivitittr derive from eontinuits8 oporations dvrinB the 3bovo two periodg.
The funds breakdown for 2023 is shown In note 19.
The note5 on pases 17 to 29 form an intecral p3rt of Ihe5p lin3ncial 5talementS.
PaRe 14

Docusign Env￿Ope1￿. 04CF4121.02D&4AEI.B958.6A77FCCE278C
k.lvor Mughes tducaiional Foundation
IRe%istiation numbef: 19759951
Oalance Sheet a3 ilt 31 Ausu¥t 2024
2024
2023
Note
Fixeo a5seTS
12
7,133
1,482,b03
8,825,000
Tanelble assets
Investment properties
13
1.429.59U
8,825,000
14
10,2JD,IGO
10,314,7JG
Current a55ets
Debtors
15
329.339
666,479
361.839
587,188
Lash at bank In han
995,818
949,027
Credltors.. Amounts falllng due wlthln one year
16
1461,5531
1487,8881
Net current assets
534.265
461.139
Total assets less curreni Ilabllitles
10,792,425
10,775,875
Creditor5- Amount5 falling due after more than one year
17
149,8001
142,0501
10,742,G2i
10,733,82i
Fund5 of the charrry..
Endowment funds
1.717.610
1.717.610
Unrestricted income funds
9.025,015
9,016,215
Total funds
19
10,742,625
10,733,825
The tinanual 5talements on paees 13 to 29 were approved by the trustees. and authori5ed for Issue on
Zll May. 2025 And48A[d￿T￿helr behalf by"
Tru51ee
The note5 on pa8es 17 10 29 form an iniegrdl pari of these lindnlldl 51atement5.
Paep IS

Docu51gn Envelope ID. 04CF4t21-02DA4AEI.8g5&8A77FCCE278C
E.Ivor Hughes tducational Foundation
Statement Df Cash Flow5 for the Year Ended 31 Au%ust Z024
2024
2023
Note
Cash Irnm npprAtine xrtivitie¥
Net income
8.SOO
71.298
Adjustments to Cash flows from non-cash items
Dppfeciaiion
AmorTlsaiion
54,142
3.563
4Y,465
3.053
12J,OODI
I f￿￿ehOld propert¥ revaluation in poriod
66,505
98.82D
Workin8 capilil 3djustm•t)ts
Decrease in debtois
15
22..snn
XflE4
16
6.949
125,5341
Decrease In defefred in£ome
Npl rxEh flrtws from op@r3tinB 3ttivities
80,420
iio.oio
Cash flows from iTrve5tlllE artlvities
Purchoso ol intangible fixed assQ15
12
13
147,5091
Nel ca5n iiows rrom Invesring acriviiies
11,1291
152,6091
Nei incrÈasè in c3sh and cash equivalents
79,291
57,401
Cash and cash poiJivAlpnlg At l %gprpmhpr ?0?3
587,18B
52É),787
Cash 3nd cash èouivalent5 3131 August 2024
666.479
587,188
All nf rh# rxth flowg aro dorived from continuinB opèrations durinE tho above two pcriod-
The noiÈ& on pages 17 10 29 lorm an integr31 part of Ihes2 financi315tatemenis.
PAep1fi

E.Ivor Hughes Educational Foundatlon
Notès to the Finanr.iAI Statè.mp.nts for the Year Ended 31 August ZD24
i Charity Status
The charity is a Charity limited by guarantee and consequently doe5 not have share capital. Each of the trustees is
liable io contribute an 8mount not exceeding El lowards the asset5 OF the charity in the event of Iiouid3tion. The
registered office 15 BuckinghÈrn CollÈge Prepatory School, 458 Rayners Lane, Plnner, MiddlesEX.
2 Accounting Policies
Summary of slgnificant 3ccounting policie5 and key accouniln8 e511mates
The principal èccounTing Policies applied In The preparation of these flnanilal 51atemeiiL5 dlv svl uut below. mie5e
policies have been consistently applied to all the vears presented. Unle￿ otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with AccountinA and ReportinR by Charilie5'.
Slatcmcnt of Rccommended Practice applicDblc to choritie4 preparing their accounts in accordancg with thè
Financial Reporrin8 siandard applicable in the UK and REpublii of Ireland IFRS 1021 i55ued in Oclubvi 2019
Icharities SORP FRS 1021, the Financial Reporting Standard for smaller entities applicable in the UK an¢J Republlc of
Irclond IFRS 10)) and thc Companic- Act 2006.
Basis of preparation
E.Ivor Hushes Educational Foundation meet5 the definition of a public benefit enriry under FRS 102 . Assets and
accountine poliry note5.
The financi81 statements a￿ presented in Sterling (£1 and figures are shown to the nearest whole pound.
Golng con¢crn
The financial statements have been prepared on a going concern ba515.
The IIu5tee5 a55e55 whether the use ol going concern 15 appropriaie i.e. wherher there Bre any rnateiial
uncertainties related to events or conditions that may cast significant doubt on the ability ol the charity to
continue 3$ a going concern. The trustees make this assessment in re5PgCt of 3 period of one year from the d3te of
approval of Ihv fin¢>ncial Statements.
Incorne and endowmenls
allowances and bursarie5 granted, Ibut include contributions frorn oiher charitable in5titutionsl.
Page 17

E.Ivor Hughes Educatlonal Foundation
Notes to the Financial Statements for the Year Ended 31 August 2024
Deferred income
ees received In adY3nce Of e(luc3110n to De prowded are deferred an(J Bre reEo¥nised iii Il1¥ SldlYiTiviII ijf
Financial Activities in the term when used.
lTrvestrnent income
nvestmeni income is recoenised on a receivable basis.
Expenditure
Expen5e5 are recognised in the period they are incurred, except for those teaching supplies relatin8 to subsequent
cademic ye3rs'. which are doferrèd tf> tho followin8 y4ar.
Choritoble ortivitffes
Ch3rit3ble expenditure comprise5 those costs incurred by the charity in the delivÈry of its activities and services for
its benelic13ries. It includos both cosrs that Can be allocated directly to such activitie5 and those costs of an indirect
nature ne¢e5sary to 5UPPOrt thefll.
Governan￿ co5t5
Th¢5e include the c05tS attributDble to the chDrity'3 complipnce with cohstitvtional and -tatutory requircMcnt=,
Incluaing auoit. sirategic management ano trustees's meetings ano reimDursea expens&5.
Government 8TantS
fjovernmeni granis in relaiion to expenditure are crediied 10 proni and loss account when the expendiiure Is
chareed to piolit and105S.
Taxation
The charity Is considered to pass the tests spt out in Paraeraph I Schedul@ 6 of the Finance Aci 2010 and therefore
it mcct" thc definition of a charitabl¢ Company for UK corporation tax Purpo￿•.
potentially exempt from taxation In rE5pecE of incoffle or c3pital gains received wlthin tstegorie5 cowered by
ChapiÈr 3 Part 11 of the Corporation TaK Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to
th¢ cxtcnt thDt Juch income or 6ain• are applicd excluttively to charitablc purpoacs.
Intangible assets
Intangible assets a￿ stated in the Balance Sheet at cost less accumulated arnort15ation and impairment. They are
amonised on a siraignt line basil over their esrimated useful lives.
Paoe 18

E.Ivor Hughes Educatlonal Foundation
Notes to the Financial Statements for the Year Ended 31 August 2024
Tangible fixed assets
Individual item5 Costino lesg than £1.500 are wrlttèn off 3s an expense as acquirpd.
The Foundation follow5 a pollcy of cgntinual maintenance of its freehold propÈrtie5 which have not been
depreciated on th@ basis that the estimated residual value is not materially different from its carrying value and
thai they have a long useful economic life. ITr accordance with Financial Reporring standard 102, all Ireehol
VIUPel(IE5 are 5Utiieci io an annual fair value ana Itnpairrnent review.
Amortisation
Amoriisation is provided on intangible fixed assets so as to write off the cost, less any estirnated residual value,
over their expected useful economic life 35 follows..
Asset clas5
5oftW3re development
Amort15ation method and late
20% on co>5t
Depreciation
Ocpreciation 15 provided on tangible fixed 055et5 50 a5 to write off the cost or valuation, less any e5tsrnaied residual
value, over their expetted useful economi¢ life 35 follows..
DepT￿lIall0￿ fflethod and raie
at vary5ng r3tes on c05t
25% on c05t
FiKtures. fittings, furniture and equipment
Motor vehicles
rnmpiitpr pquipmgnt
20% on cost
Investment properties
The investment propertles are Carried at fair value, derived annually from current market values for comparable
propprtipE. with Any chan￿5 being reco8nisgd the Statement of Financial Activitic:.
Trade debtor5
Trade debtors are amounts due from cusiomers for merchandise sold or s@rvices performed in the ordinary course
IricJJ.
Trade debtors are recogni%pd init1311y at the transaction prico. They are subsequently measured at aTrTrortised cost
using the effective interest method. less provision for Impairtnent. A provision for thÈ impairment of trade debtors
15 established when there is objective evidence that the charitv will not be able to collect 311 amounts dup
accordinE tn thp nriEinAI tprmg of the r9coivablÈÉ.
Cash and cash equivalemts
Cash and ca%h pqiiiv.Ilpnrs comprise cash on hand and call deposits, and other.hort term highly liquid investrnent5
that arc readily convertible to a known ainvviil ufLdS11 drid dre 5uble£t to an In51gniflcani risk of cnange In value.
Pa8e 19

E.Ivor Hughes Educatlonal Foundation
Notes to the Financial Statements for the Year Ended 31 August 2024
Trade creditois
Trade creditors are oblioations to pay ftsr gnndq nr ￿N1¢p{ that havo been 2cquirod in thè ordin3ry cour[9 of
busine55 from supplier5. Accounts p3y3ble are classified as current liabilities if the charity does not have in
unconditional righl. at the end of the reporting period. io defer settlement of the creditor for at least twelve
months after the reportln8 date. If there is èn unconditional righi ro defÈr settlemer)t for at least twelve months
after the reporting date, they 3re presented a5 non-curreni liabilitie5.
Trade creditOTS are recognised initially at thp tran<ariion pritg 3nd subsequently mtrasurad at amortised cost using
the effective intÈrest method.
und structure
Unrogtricted funds Can bc u5cd in accordence with the charitable objectives ai Iliv disLivliuii ul iIIv ilUSLEe5.
Resrricied fun(Is can only be used for pHrricular restricted purposes within the objective5 of the charity.
Re5tflCtions arise when specified by the donor or when fund5 are raised for particular restricted purposes.
The Endowmtnt fund5 ai"e Subjvil Iu SY￿1￿( rcnOIIIolls by donors Ihal the c3piial must be pre5erve(J by the
foundation.
Per*Si0ft5 3nd othor post retiYem¢nt gbl¢GatiaM$
The ￿oUn￿all0n Contribut￿ to the Teachers, Pension Defined Benefits Schemè at rates set by tho £chpmF Art112ry
and advised to the Board by the Scheme Administrator.
The scheme is a multi-employer pension scheme and it is not uossible to identify the assets and liAhilitipf rjf thp
sthptnp whirh Arp 3ttributable to thg foundation.
In accordance with FR5102, the scheme 15 3ccounted for a5 3 defined contfibution scheme.
The foundatioii alsv vffei> d SLh¥tne for lis non-ieathing 51aff. wnicn Is a detined contribution 5cherne.
c.ontributions to both schemes èFÈ changed ir the Statement of Financial AttN?ties as they become payable. in
accor¢tance With the rules of the %hemes.
Crittcal B¢rountins ivd5etnents al)41 kvy >uurtes of e5tlrnatlon uncertainry
In the application of the Charity's a¢countiiig poliLivs, wliiLII die d¥51rlbed In th15 noTe, The Trustees are required to
ako iydgement5, estimates and assumptions about the Carrying omounts of a55ets and liabilities that are not
readily apparent from other sourcÈ5. The estlmates and 35sociated assumptions are based on historical experience
and other factor- rhat ere considered to be ielvvdiil. ALiuoI re5uI15 rnay dlffer from Ehe5e estimates. The estimaies
énd underlying 355umptions are reviewed on an onRoinR basis. Revisions to accoutEting estimates arè rpr.Dgni%pfl in
the period in which the e5timat& is revised if the revision affett5 only that period. or in the period of the revision
and future periods if the revlsion affect5 borh current and future periods.
There aro no tritir.al 2r¢niintinBiudgementg or key sourcos of cttlmDtion uncertainty bt the reportins date.
Page 20

E.Ivor Hughes Educational Foundatlon
Notes to the Financial Statements for the Year Ended 31 August 2024
3 Income from charitable activiti
Unre5tTlCted
fund5
Total
ZOZ4
rotal
2023
General
ree3 receivable
1,3?4,195
198.1821
1.374,795
198.1821
1,396,832
198.3191
Total bursaries, scholarship5 and 311owances
1,276,613
1.?76,613
1,298,s13
4 Invesime*t income
Vnre5tii£ted
funds
Total
2024
Tirtal
2023
General
Intorogt rÈceiv3ble on bank depo
Income from lent5
10,460
359.517
10,460
359.517
6,204
352.456
369,977
369,977
358.660
5 eMp¥ndlture on rharltable ac11v￿leS
Unrestricted
funds
Total
2024
Toial
2023
General
Note
1,621,916
18,186
1.621,916
18,186
l*u89,21J
overnance c0515
30.883
1.640.102
I,b40,102
1,620,098
Page 21

E.Ivor Hughe5 Educational Foundation
Notes to the Financial Statements for the Year Ended 31 Aueust Z024
6 Ana￿1$ of exoendTrture on charitable activities
Unrestricted
funds
Total
2024
Total
General
2023
Note
AdvtrtlJin6 and rnarkcting
Wages
Pensions
23,758
969,476
138.740
222,082
167.946
39,712
57,705
?.497
23,758
30,355
969,476
934,034
129.226
193,308
201.206
45,829
52,522
?.71
138.740
222,082
167.946
39,712
57,705
?.497
TeachinG Ctset
General rn3intenance
offi￿ expenses
DepTociation charge
Bank charRes
1,621,916
1,621,916
1,589,215
7 Analysis ol governance and support costs
Governance Costs
Unf95trirtqd
fvnd5
Tota
2024
Total
2023
Generol
Auditor's remunefalion
17,040
1,140
17,040
1,140
14,640
261
Legal and piofessional fees
Bad dcbtJ writtcn off
15,982
18,186
18,186
30,883
B Trustees remuneration and pxppn4p
No tru5tee5. nor anv persens connectgd with thpm. hAvp rgrpivpA Any rpmiiDeration from the charity durine th
vear
0 st¥H costs
The aegreeatp payroll costs were as follows..
Page 22

E.Ivor Hughe5 Educational Foundation
Notes to the Financial 5tatement5 for the Year Ended 31 August 2024
2024
ZOZ3
Staff costp durin$ thc ycar wcre..
Wage5 and salaries
Pen510ll CQSt5
969,476
138,740
934,034
129.226
1,108,216
1,063,260
ThL4 mQTrthly average number of person5 linclvding senior management team) employed by Lhe chartty durin8 rhe
Yoar expre55ed a5 full lime equivalents wa5 35 follows..
2024
2023
ead office
Butkin8ham Preparatory SchDoI
31
30
32
32
The nurnber of employÈe5 whose emoluments fell within the following bands wa5.
2014
No
1023
[60,001. £70,000
10 Audltors. remunerarion
2024
2023
Audit of thp finAnriil 4tRtpment&
17,OLiO
14,SaO
11 Taxation
The cliai-ily IJ d IV¥isl¥i¥d LlidilLy and15 Iherefore exernpi from iaxaiion.
12 Intangible fixed 355ets
5vftwdr
development
Total
Cost
At I September 2023
17.$15
17.815
At 31 August 2024
17,815
17,815
Page 23

E.Ivor Hughes Edu(ational Foundation
Notes to the Financial Statement5 for the Year Ended 31 August 2024
Software
developmeni
Total
Amortisatiort
At I September 2023
Charge for the year
10,682
3.563
10,682
3,563
Al 31 Augu-.t ?024
14.245
Net bookvalue
At 31 AuRUSt 2024
3,570
3,570
At 31 AuBLlSt 2023
7.133
13 Tanglble fixed assets
Flxture5
fittings.
furniture and
equipmeftt
Land and
butldings
Computer
equipment
Motor vehicles
Total
Cost
At I September 2023
Additi¢ns
1.327,665
447,512
85,062
118,810
1.129
1,979,049
1,129
At Sl August 2u24
1,327.665
447,512
115.Ob"2
iiy,yJy
I,y¥u.ii
Depreciation
At 1 5epTember 2023
Ch3rge lor the ycar
355.236
22,825
31,425
18,017
109,7145
3,240
4Yb,44b
54,147
At 31 August 2024
388.121
49.442
113,025
550,588
Net book value
At 31 Aueust 2024
1.327,665
59,391
35.620
6.914
1,429,590
At 31 Augusi 2023
1,327,665
92,276
53,637
9,025
1,482,603
The board have not reieived a current formal valuation of the freehold property occup>ed by BuEkin8ham
Preparatory School have consequently not revalued it in these accounts.
Page 2A

E.Ivor Hughes Educational Foundation
Notes to the Financial statements for the Year Ended JI AUEUSt 2024
14 Fixed asset investment5
2014
ZOZ3
Inve5trnent properries
8.825,1>00
8.825.000
Invèstrnent prvpgrtios
InvÈstmÈnt
properties
Valuation
Al I Si'ptcfflber 2023
8.825.LKK)
Net book value
At 31 AiiEust 2024
8,825,CQO
At 31 Au8USI 2023
8,825,000
Page 25

E.Ivor Hughes Educatlonal Foundation
Notes to the Financial Statements for the Year Ended 31 August 2024
The properly ai Tanglewooo was IndepenclenTly valued ai ffj,750.000 by ￿U￿terS e51aie il¥Eiils iii 2023 bd5vd vii
the curreni market conditions and current dern6nd for thls type of property in the area.
The property Bt Hamilion Road was independently valued at E70L¥.QOO by Hunter5 estate 4gents in 2023 based on
the current market conditions and current demand for rh￿$ type of property in the area.
ThE property at L3nd5downe fjar¢ens was Indepenoenily vBlued ai f 325,QQO by FOX & 50n5 esiate agent5 2023
based on th& current market condition5. availability ol mortgaEes and the current demand for thi5 type of property
in ihe area.
The propertv at Lknd%dtswnp r)rivp wa% indpppndgntly vAliipd al f??£.nnn hy Fnx K %f)ns p%tatp. a£pnt% in 2023
baJed on the Currtnt rnfjrket condition3. availability cf mcrt8age3 and the current dernDnd for this typt of property
in ihe area.
The property at Ourton Road was valved at £3JO,000 by tru5tee5 in 2023 based on current market conditionj for
tnis type ol property In the area.
The propErty at Chapel Barn was independenily valued ai £375,000 by Fox & sons estate agents in 2023 based on
the ¢urrent market conditions. a￿lIabilItY of mortg3ge$ and the current demand for this type ol property in the
15 DÈbtor5
2024
2023
Trade debtors
307.675
19,725
1,939
343,484
15,819
2,536
Prpp3yrnenrs
flihpr dphtn
329,339
361.839
16 Creditors.. amourtts falling dLÈe wlthin one vear
2024
2023
Trade credltors
other rJx?tiOfi and ￿0cl41￿C£vr1tY
Other creditors
Accruals
11.202
17,810
26,481
13,800
392,254
12.722
23.241
16.084
18.053
417,788
0ofÈrrod income
461,553
487,888
Page 26

E.Ivor Huehes Educational Foundation
Not•s to tho Finantial Statements for the Y¢ar Ended 3J Augu¢t 2024
17 Creditors-. amounts falling due after ot)eyear
2024
2023
oiher creditors
49,¥00
42,050
other creditors lalling (lue after one year relate to student deposits.
16 Pen)iyii ￿1¥￿ vlhvr
DeftTred ¢ofitrlbution pen3ioTr Jcheme
The charity operate5 a defined ccniribuiion penslon scheme. The pension c05t charge for the year represents
contribution4 payable by thc charityto tht scheme and 4mounttd to £138,74012023 E129,2261.
19 Funds
Bal3Th￿ at i
5egtE¢nbe*
20Z2
Other
Balan￿ at
31 Au8ust
2Q23
In¢ominS
leSQUTIE5
Resoyr¢es
￿￿98￿11$•d
¥dliis1llv)>vs1
Unre5trirted funds
General
8.944.917
1.666.496
11.620.og81
qni&?15
Endowment funds
Pcrrnanent
1,717,610
1.717,GlO
Tv1￿1
10,fj02,527
1,666,396
11,fj20,0981
25,000
10,733,825
P¥se 27

E.Ivor Hughes Educational Foundation
Notos to the Flnanclal Statomonts for tho Ygar Endsxl 31 Au8USt 2024
Balanco at i
September
2023
Incoming
resources
Resources
expended
Balance at 31
August 2024
Unrestricted tund5
General
9.026,215
1.648.902
11.640,10?)
9.025,015
Endowment I￿ndS
Permanent
1,717,010
1,717,610
Total funds
10,733,825
1,648,902
11.640.102)
10,742,625
Page 28

E.Ivtsr Hughes Educational Foundatton
Notps to the Financial Statements for the Year Ended 31 AuBUSt 2024
20 Analy￿5 01 net 355ets between funds
Total funds
Int3ngiblE fixed assets
Tangible fixed 8$5et5
Flxed a5sei investment5
Curr&nt Afiipt£
3,570
.429,590
8.825.000
995,818
1461.5S31
149.8001
Creditors over l year
Total ntt a55et5
IU,142,b25
21 Contingent Ilabilitie5
Theie arp nn nnEninB rlaims aB3inst th• Foundation in which J liability 14 c¥pccicd io arise.
ZZ Rel)ted party trènsaction5
Trusiee, A Ulins, Is a partner at IBB Solicitors who att lor the Foundation.
There w3s no tran53CtIOn5 with IBB Solicitors duri￿ the ¥ear wherea5 there was ¥e(und vf £2.494 from IB
Soliciiois in 2023 in iespect of 2022 charges
Page 19