EARLS COLNE AND HALSTEAD EDUCATIONAL CHARrrY TRUSTEES? REPORT AND FINANCKAL STATEMENrs FEBRUARY 2025 MOORE GREEN CHARTERED ACCOUNTANrs SUDBURY SUFFOLK
EARIS COLNE AND HALSTEAD EDUCATIONAL CHARITY INDEX TO FINANCIAL STATEMENTS 28 FEBRUARY 2025 Cbarity Infomation Report of the TnL8tees ststem¢nt of Trustees. Rwllsibilities Statement of Financial Activtties BalanLz Sheet Notes to the Financial Statements 9-14 Independent ellerS report 15
EARLS COLNE AND HAIsfEAD EDUCATKONAL CEIARITY CHARITY IIEGISTRATION NUMBER 310859 TRUSTEES Mt5 S Thurgate (Chair until July 2024) Cl]r C Siddall (Vice Chair) Mr A Harvison (Until July 2024) Mrs J Bailey Mr J Hayes (cbair from July 2024) Mt J Munto Mr A Sbelton Mr P Finch (Appointed November 2024) Cur J Parish Cllr G Courtauld Mr S Milbank Mrs C Sterland Cllr J Bond Mrs V Bnrnitt CLERK Mys Pauline Kenning INDEPENDENf EXAMINER Vincent Chandlcr FCA FCCA Moore Grcen 22 Friars Street Sudbury Suffolk C0102AA Barclays Bank PIC Leicester LE87 2BB Union BaDcaire Trivee (UK) Ltd (formeAy Kleinwort Hambros Limited) Onc Bank Street Canary Wharf London E14 4SG
EAR COLNE AND KILSTEAD EDUCATIONAL CIIARITY REPORT OF THE TRUSTEES YEAR ENDED 28 FEBRUARY 2025 The TeeS present their annual and the Un-aed fllwicial statements of tbe ChaTity for the yw ended 28 February 2025. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Cbarities: Statement of Rcconunendcd Practice applicable to charities preparing their accounts in aCCordC with the Financial Reporting Standard applicable in the UK and Republic of treland. CONSIITUTION The Charity was constituted on 31 July 1975 and is govemed by a definitive Tnt Deed and Rules dated the sam¢ day. The TTUSt is registered as a Charity, under number 310859. OBJECTIVES The purpose of the Charity is to provide grants for the furtheranLY of the education of local children and young athilts. The Charity has cotiiinued to rely on income from listed investments and baDk deposit& The investtnents are held for capital growth and to provide adequate income to cover uCatiOnal grants. They have been acquired in accordance with the available to Trustees. The Clwity has adequate assets to meet future commitments to beneficiaries. There have be no changes to these policies duting the year. The Charity achieved Ats obje¢tiv¢ of distributing educational grants using its investment income. ORGANISATIONAL SIRUCTURE The Charity's day to day affairs are managed by the Clezk to the Tn. Regular TnceS, meetings are held at which decisions are taken by majority vote. REVIEW OF ACHIEVEMENTS AND PERFORMANCE The results for the year are set out in the statement of fmancial activities on page 7. Thc policy of the Charity is to distribute most of its income to its beneficiaric8 whilst recognising Ilwt only income can be distributed - not capitsl. The Unrestrictcd FuniL from which distributiODS are mad4 bas increased during the year and bas a balawe of £37,549 at the end of the year.
.EARtS COLNE'AND HALSTEAD EDUCATIONAL CHARITY REPORT OF ThE TRUSTKES (CONllNUED) YEAR ENDED 28 FEBRUARY 2025 The Charity received 96'applications from individual4 voluntary organisatiODS school8 during the 2024r25 In additi the Charity conlinued to provide funding to 22 local schools through the extra-curricular enriclllnent Per Capita grant allocations totalling £14.100. Further project grants to schools totalled £1.780. The Charity also awarded £l.100 towards projects that a&%ist young people with adventurous and sporting activities, and £15,000 to students towards the costs associated with their university sthdi4 in parcels of £200 for Idergraduate awards and £100 for postgraduate awards. £90 WAS al80 awarded to young people to take Part in tbe bronze Duke of Edinburgh award scheme. Grants to vo14mtsry organi8atiOll8 totalled £2.(N)O This w85 prcdominantly to Guide and Scout 8roups lo enable tbern to [cle Dew callJpiDg equipment and take part in adventurous aciivitics. FINANCL4L REVIEW The ChaTity'S invcstmcnt income rcccived for 2024125 bettcr than expected at £45 325 and exceeded the Charity's stated minimurn income rquirement. Addxtional Income {whicb included a welcome donation) of £1,194 was received by the cbarity Trustces wiIl continue to challcn8e our investment portfolio manager. Union Ban¢al Privee (UK) Lt(L to achieve a desirable Inme for the new financial year, though the economic outlook remains unsettle<L Therefor4 the Board will continue to seek regular advice from KH and remain cautious when granting funding to ensure the Charity's c(mtinued long-ternj viabilily. After due deliberation and in consultalion with both their tnvcstrnent managcr aod accountsnts the Trustecs havc agreed two changes to the financial poh'cies of the charity of th¢ cbarity to take cffcct this year. ThC werc decided upon to continuc to maintain CODtrol of adtninistrativc expenses and imp.rovc ID the lon8er terni the incomc of the clwTity. So, In accordance with Charity Commission guidelines our aUntrts will conduct an independent examination of the annual accounts 85 opposed to an audit. By re-investing some of the sutplus funds cach year back into the fun4 thi8 will help se¢ure the.futyre of the Charity's Brant 8iving ability for the longer terni. RESERVES POLICY The reserves of the ¢harity currently stsnd at £1262.420 (2024: £1,201,470). The poIiGy of th¢ clwity.is to distribute the maxitnum amount of income possiblc to its beDeficiari¢8. However. from 201110 dal4 an aD]ount of £IO.LKIO is Set aside ill the budget to rA)v¢r addiiionai qKrntiug expenses. FollowiDg guidance re1v from th¢ Cbarity Commission, th¢ reserves of the Charity separdted between those relaling to the awity's p¢nnaDeDt elldowment and those constituting the accrued exc of income over expenditure.
EARLS COLNE AhlD HALSTEAD EDUCATIONAL CHARrrY REPORT OF TEtE TRUSTEES {CONUED} YEAR EIYDED 28 FEBRUARY 2025 FJXED ASSETS C]wiges in fixed assets, including investments. are showll in Notes 6 and 7 to the financial statcmcnts. TRUSTEES The Trustees of the fimd are shown on page l. The management commitr co81sts of the Trustees. POLICY ON APPOINTING TRUSTEES The Earls Colne and Halstead Education Charity is bound by its CotitUtion when appointing Trustees (scheme dated 31 July 1975 as amended by resolution dated 5 February 2018. a8 attlellded on 6 Febnwy 2023). The Board is comprised of13 members, made up of 5 Co-optstive Trustees and 8 Nominative Tnjstees. Nominahve Tree5." The following organisations nominate candidates to serv¢ as a Trustee for a terni of 4 year3: I by the Council of Almoners of Cbrist's Hospital I by Braintree District Council I by Earls Co]ne Parish Council I by Halstead Town Coullcil I by The Ramsey Academy I by HediDgbam School I by Honywood School and I Primary School Headteacher from the Charity's 'arca of benefit,. Whenever a Nominative Trustee vacancy arisw notice of the vacancy should be given to the proper appointing body as soon as possible. Co-opted Trustees." Thcie 5 COvOPtativc Trust¢e positions. which all have a tern] of 5 years. Cfroptativ¢ Trustees sbould be individuals, who, either thmugh residence. Occupatio employment or other specialist koowledg4 Iwve a Sla1 understanding of the Clwity's area of benefit (catchment area). Nominatio$ are made by at a normal Board meeting and a vote is then Procedurefollowing 4 sM¢cessfAI nominalioK' Once nominated each candidate is then.sent a letter of appointtnent and is r¢qUeSt to sign an Acceptance of Office at their first Board meeting. This is a signed declaration affillning their acceptance of. aDd willingne&8 to act in accordance with, the tnL8t laid out within the constitutio TnteeS are also requested to complete a Declaration of Interests forn] and supply theAr dats of birth. The Tntee'S details are then entered on the Charity Commission website.
REP.ORT.OF.THE TRusTEES.(cofINuD) YEAR ENL DED 28 FEBRUARY 2025 The charity's Board Members shall ce&8e to be Trust8, if. They maIn absent from all meetings of the Board during a.pcriod of one year: They are adjudged to bc banknupt. They are wbolly incapacitated througb ill health. They notify th¢ Board in writing of their wish. to resi PRINCIPAL OFFICE The principal office of the Charity is: 14 Chapel Street Steeple Bumpstead Haverhill Suffolk CB9 7DQ Approved by the trustees on . and signed Oll their behalf by: Mr J Hayes .Chair iri Mrs P Kenning . . Clerk
STATEMENf OF TRUSTEES, RESPOIYSIBILrrIES YEAR ENDED 28 FEBRUARY 2025 The clwity trustees are reSnSIble foT preparing a Itustees. annual report and fjnancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Engtand and Wales Tcquires the charity tntee8 to prepare fllwicial statements for each ycar which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resourccs, of the clwity for that period. ID preparing the financial statementy the trustees are required to: select 8Uitable accounting polici&s and apply them consistently. make judgments and estimates that are reasonable and prudent. stste wR]ether applicable accounting standards bavc been followed, subject to ,any matcrial departures disclosed and explained in the financiaI statements, and wbether the fll)ancial statements have been prepared in accordance with the Statement of Recommended Practice, Accounting by Cjwities issued by the Clwity Commission. alld prepare the financial statements on the going LX)Dcern basis unless it is appropriate to presume that the Charity will not continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any titne the fiDancial position of the clwity and to enable them io ewe tbat the financial statements Cotnply with the Charities Act 2011, the applicable Charities {CoUts .and Reports) Regulations, and the provisions of the Trust dee They are also responsible for safeguaTding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregulariti. The trustees are r&sponsible for the maintenance and integrity of the charity and f]cial infom)ation included OD the clwity's website in accordance with I¢slatIOn in thc United Kingdom governing the preparation and dissemination of financial statements.
COIM AND AD EDUCATI NALC TATEMENT OF FINANCIAL Acrwrrtffs YEAR EIYDED 28 FEBRUARY 2025 202 2024 tNCOMING RESOURCES Investment Income 45325 45325 46.313 Donations 844 14 Other income 350 350 TOTAL INCOMING RESOURCES 46519 REsOuRs EXPENDED Direct Charitable Expenditu 33,7,71 33.771 28,321 ndirect Expenditurc: Admini8trdtion Expenses 8,439 6,176 14.615 TOTAL RESOURCFS EXPENDED 42310 176 NET (oufGOING)llNCOMING RESOURCES 4.309 (6.176) (1.867) 473 Other Gains and Losses: . ' Realised Profit/(J$) OD Investmenls 13.330 13J30 (13,311) unrlSed (LossyGain on IDve51ma 19.500 4a09 60950 (32J38) Transfw between funds AS AT I MARCH 2024 30 1201470 AS AT 28 FEBRUARY 2025 1201470 Notes l. Incomingloutgoing resour and mov¢mts in reserYc5 arise from continuing operations. 2. Total gdiDS or losses recognised for the current 8nd precding financial year ate detailed above.
COLI¥E AND EDUCATIONAL CHARfTY BALANCE SHEE YLIR ENDED 28 FEBRUARY 2025 2025 Totsl FIXED ASSETS Computer Equipment 660 660 INvEmENTs 1,204,299 1,204299 1.154,799 CURRENT ASSEIS Debtors Cash at Bank Cash held by Union Bancaire Trivee (UKJ 349 8,696 31.634 349 8,696 51,856 349 25.647 26.774 20.222 CREDITORS: AMOUNTS FALLING DUE THIN ONE YEAR (3,790) 350 (3,440 6,100 CURREFTrAssErs 37,549 1,224.871 1.262.420 1.201,470 FUNDS Unrestricted Income Fund 37549 37549 33,240 Restricted Fund 1,224.871 1,224,871 1,168.230 379 1224.871 LZ62.420 1.201.470 These financla] statements were approved by the Trustees on OEC Hayes Trustee Mrs P Kenning Clerk
. EARLS COLNE AND HAISTEAD EDUCAIIONAL CHARI 28 FEBRUARY 2025 I ACCOUNTtNG POLICIES Accounting convention The financial statements have been prepared in accordance with the Statement of Recommended . Practice: Accounting. and Reporting by Charities preparing thcir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102) and the Charities Act 2011. Thc financial statements are prepared on a going concern bASiS under the historical cost convcntion. modified to include certain items at fait value. The financial ststcmcnts are presented in sterling which is the fimctional currency of the clwity and rounded to the nearest £000. The significant accounting policies applied in tlie preparation of these financial statements are set out below. These policie8 have consistently applied to all.years presented unless othcrwisc ststed. Jnve8tm¢nt income Dividends, interest receivable and any associated tax credit are recognised by reference to the date of payment. Investsiients Investments are stated at market value. Any unrealised gains or losses are included in the Statement of Financial Activities. Only when an investment is wholly sold is the gain or loss shown as realised. Accumulatd Funds The Unrestricted Fund represents a¢aunulat&l annual surplus of income whilst The Restricted Fund represents the chatity's pennanent endowmcnt fund, against which certain costs. nolably the fund managets, fees, can be charge(L GTants payable The Unrestsicted Fund is only available for the general Purposes of the charity as set out in the governing docum¢nt and the Trustees are free to use this fuDd for aoy of th¢ charity's purposes. Grants are paid to individuals and I{al schools and organisations for the furtberaoce of edu&10n. Tangible fixed assets and depreciation Tangible &wts are depreciatrAI by aDnual itLStalments over thelr estimated us¢fid lives: Computer equipment 25•A Straight Line
10 EARLS COLNE AND TEAD EDUCATIOIYAL CHARrrY NOTES TO THE FINANCIAL sTATEmEs (CONTINUED) 28 FEBRUARY 2025 All aInS and loss are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference betw sales proceeds and their opening tillg value or their purchase value if aCqUid subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carying value. Realised and unr¢aliscd.investment gains and 10&8es are combined in the Statement of Financial Activities. 2025 2024 Bank iDterest received Dividends and other interest received 374 196 45 All dividend income is from list investments.
CATIONAL CHARrrY TO THE FINANCIAL STATEMElYts ' YEAR ENDED 28 FEBRUARY 2025 .NO 3 RESOURCES EXPENDED 2025 2024 Grants to Individuals (87 Grants Made) Grants to Other Bodies (Note 3A) 15,891 17,880 33,771 8.861 19.460 28,321 3A GRs TO OTHER BODIES 025 2024 For Extra£urricular EDrAclllnent in SclM)oIs - 22 Grants nd¢ ' Ramsey School Hedingham School Honywood School, ..Gtants Lxss Tban £1,000. . 1.794 3,045 1,987 1,859 2.988 1,912 7.341 14.1(K) 14,100 For other purpose5 in schools - 7 Grants Tnade Grant8 less than £l,O(K) 1.780 1.780 1,500 For Voluntsry Bodics (2 madc) 3.860 19,460 17,880
12 EDUCATIONAL CHARrrY NOTES TO THE FINANCIAL STATEMEN13 YEAR EIWED 28 FEBRUARY 2025 4 ADMINISTRATION EXPENSES 2025 2024 Unrestricted Remuneration al Cost4 the Charity Clerk Website Costs Audit fees Indend¢llt ExatDincrs Fees Non-audit fees Sundry expenses Depreciation tA)ss on Disposal 6.000 238 6,320 172 3,000 540 414 115 220 .8.439 10,022 ResiTiCted Investment Management Charges Interest Cbarges Exchan8¢ rate difference 6,176 7.511 6,176 7,511 5 TRUSTEES Durin8 the ye8r payroll was operated providing renllumtion Mrs Pauline Kenning for their services to the charity as the GlerL this amounted to £6,000. Expcnscs were aIso reimbursed ID the ycar aovxmting to £131. WAth no balance outstanding at the year end. No ttU5tces received any remuneratio nor had any expeJLW reimbursed to thenL Totsl employed staff for the year l (2024: 1). 6 FIXED ASSETS Cost At l March 2024 Additio Disposals At 28 February 2025 493 880 493 880 Depre¢iation At l March 2024 Charged in year Elin)iDated on disposal At 28 Fcbnwy 2025 492 220 492 220 Net Book Value At l March 2024 At 28 February 2025 660
AR WId•rR1ll 79mQ 07.10.11 117.03.16 2BJ)17B 07.1213 & IINJ414 C4.05.2024 C4.052024 CIJ.052024 .58,093 J3A69 BNY MtllDllFulld MwJ4thLbl M&GChwlOJrtd In¢on u1# 35 2J,iX) W28 . 8JhrJ )S,856 1321 UA773) 60N73 "95,810 13.2ti) UKsllt4.5 UXTSY I. IX875J l JJ8 93hJJ 35,120 75,315 71.961 52 .J6,293 74J2S 8J.122 la12.14&02.11.2024 tr7.12.18&25.0321 01.01.19&03.IZJ024 1103.19 QI.102020& 15.102020 07.0323 20.Ila02 01.la2020&3 2J.02.22 24.03.21 3J.0122 1403.21-17.0322 30.01.23 IQ09.U & 17.112034 17.122024 032025 79.96$ 611$7 44J32 '91J72 28.106 Adv• tnv USEq]DE 11 Dllt 6925 3IAs1 71M6 13397 11 271 A7fj7 Inv5VCSUKmoMWW[¢Trtyd LyxorETFS&P 5 45m4 l)J96 13,1tr7 31361 )9,017 34,091 251 4Pi subrdernlrttoTrlkndZ 31173 .4JJJO 38,674 (1 31J27 96 Pr4nWlnUKEquity lllrt4MFundWA¢¢ Aw]taPLCCOMOBPO.I NlthiFundRthlAithRQ.D OBP LyAwF.TF 500 IPRO 8PDR 5P4mId ETF J96 J)mo 39M 21P35 (2112 (IWJ 49, 54.97J 49h34 76,041 36h31 19,434 JJJO (L459} 75,169 IYY.7WI 196 49N Iw 1.143J98 mdU1*lXtMtrn[8LYA(¢UKLTh 317 Il7 19.Vx17&23.0321 20.08.21 &.1121
14 NOTES TO THE FINANCtAL STATEMENTS YLIR ENDED 28 FEBRUARY 2025 8 CREDITORS: AMoirtrTrs FALLtNG DUE wrnitN ONE YEAR 2025 2024 Expenses Ac1 9 RECONCILIATION OF FUNDS UDrestricted tric FuDd 2025 Total l March 33240 1,168230 1.201,470 1233.808 Net (Outgoingylncoming Resources (Page 7) 4.309 (6.176) {J,867) 473 Rcaliscd ProfiV(Lknss) on Dispos81 of Investhwnl 13.330 13J30 (13,311) Gains/(Losses) on Investments 49.487 49,487 (19.500) 28 February 1224,87] 1262,420 1201470 10 ANALYSIS OF NET ASSETS BThEN FUNDS Fixed Net current assets Tot&E RestTiCted Income Fuods: 1.204.299 20.572 36.889 1.224,871 37,549 TOTALFUNDS 57.461 1,262,420
15 EA LNE AND HAtSTEAD EDUCATtONAL CIIARITY Inde endent Examiner's re rt to the trustees for the 2025 ear ended 28 Febrna I report to the TnL8tees on my examination of the accounts of the clwity for the year 28 Febnw 2025, which are set out on pages 7 to 14. Responslblltdes awd b2sl8 of the r¢port As the trustees of the clwity, you are responsible for the preparation of he aLYounts in accordance with the requirrnts of the charitits Act 2011 {'the Act.) I report in w of my exaMition of the charity accounts carried out UDder section 145 of the act and in ¢anying out my exaMItion I havc followed all the applicable ditections givcn by thc Clwity commion und¢r section 145(5Xb) of the acL Independent examinen ststement I have complctcd my examinatioL I confirtn that no material items have come to my attention in connection with the examination giving me cause to believe tIt in any material awL AccouDtiDg rerds were )t kept in respect of the charity as required by section 130 of the The accounts do not accord with thosc records The aUllts did not COD]ply with the applicable requirements conrxrning the form and contcnt of the accounts set out in the charities (accounts and reports) regulations 21)08 other than any requirement that the accounts give a 'true and fair, view which 18 not a matla LY)nsidered as part of an indep¢od¢nt eqmination. I have no Concns have c(Mne across Do matters in connection with the examination to which attention Shd bc drawn in this report in order to enable a proper underslanding of the aUllts to be reached. Vincent Chandler FCA FCCA Moore Green Chartered Accountants 22 Friars Street Sudbury Suffolk COIO 2AA 21July 2025