2023-03-31-accounts

RÈGISTERÈD CHARrrY NUMBÉR: 311018 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 FOR HOCKERILL EDUCATIONAL FOUNDATION Clemence Hoar Cummlngs Chartered Accountants and Statutory Audltor Riverside House 1-5 Como Street Romford Essex RM7 7DN

HOCKERILL EDUCATIONAL FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 Page Report of the Trustees I to 11 Report of the Independent Audltors 12 to 13 Statement of Flnan¢lal Actlvltle$ 14 Balance Sheet 15 Notas to tho Flnanclal Statements 16 to 21 D•tall•d Stat•rn•nt af Flnanclal Actlvltlei 22

HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 The trustees present their report with the flnanclal ststements of the charlty for the year ended 31st March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities= Statement of Recommended Prdctice applicable to charities preparing their accounts in accordance with the Ffjnancial Reporting Standard applicable In the UK and Republic of Ireland {FRS 102) leffettlvo I January 2019). OBJEcfIvES AND ACTIVXTXES General From Its In￿PtIOn the FotJndatlDn has allocated approxlmately two-thlrd5 of it5 annual grant fvnding to the church's educational work in the DI0￿se5 of Chelmsford and St Albans, from whlch the orlginal funding of the college was ralsed. and one-third to other corporate grants and grants to Indlvlduals. The Charity invites appllcatlons for grants to be made by a publlshed ¢loslng date, taking active steps to promote knowledge of Its grants through charfty dlrettorles, publlc websites, its own webslte and by maklng Informatlon dlrectly available to approprlate colleges and rellgiou5 educatlon networks. The Charlty's corporate grant5 are made on both a natlgnal and an International basis- we help RE teacher5 in the UK by sponsorlng RE infrastructure and are actively seeking a new oversea5 partner. The Charity'5 individual grants help trainee teachers throughout the UK whether they are studying full-time, part-time or via the Open Universlty. The allocation to the two Dloceses In the perlod covered by thls report and accounts was £105,000 to each Dloce5e. Page I

HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 oB)E￿IVEs AND AcfxvITXES Grants In support of the church's educatlonal work A major part of the Foltndatlon's objettive Is to svpport the Church of England's educatlonal work, particulady in the Dioceses of Chelmsford and St. Albans. Grants are always made for specific programme5 or projects. Dlocese of St Albans: To St Albans Dlocesan Board of Educatlon 7 grants - To support the work of the Dlocesan RE Advlser '. supporting the work of SACRES In Hertfordshlre. Bedford Borough, Centrdl Bedfordshire Luton- The development of advice guidance and resources to support the non-speclallst teachlng of Chrlstlanlty wlthSn RE; Leading the development of high quallty RE across all schools In Central Bedlordshlre and Bedford Borough through the RE Soclety of Bedfordshlre. Tralnlng and Development (H15> . Development of activities to support wellbelng of RE subject leaders (£1,500), Development of worklng latlonshbps wlth the Cathedral Learnlng Department to Include shared training activitie5 such as an annual "away day" for upper K52 pupils to explore their spirituality at st Albans Cathedral (£750); The delivery and extension of InspiREd a RE subject leader development programme run Jolntly by the Dloceses of St Albans and Canterbury {£3,0001 Distlnctlve Chrlstlan Character (H13) To fijnd the dellvery of a serles or regional training events for PLtpll leaders of worshlp {EI,500) Development and dellvery of "Heart for the Earth" a curated resource whlch wlll allow 5choo15 to the¢Jlogi¢ally reflect on cllmate change and plan to redure carbon emlsslons (E4.0001 To support the creation of anti-raeist resources to support schools promote raclal Justlce and dlverslty across the school commLsnlty {E4,000) To enable governlng boards and senlor leaders to support the Implementation of RelationshSps and Sex Educatlon and to manage difficult eonversatlons (£1,000) Speclal SeNI￿s In the Cathedral (H02} To enable the D8E to undertake speclal acts of worship, includlng HaNe5t Fe5tlval In St Alban5 Cathedral. This grant funds aspects of the costs assoclated wlth runnlng major events, Including AV equlpment, PA system, tollet hire and transport costs for dlsadvantaged children who would otherwlse be unable to attend. SIAMS Inspection and Management [H03) Support the national SIAMS admlnlstratlve and quality assurance programme. Church School Leadershlp Development (H14) Thls grant Is deslgned to support the development of leader5hlp acr055 the Diocese's 138 church schools. It will undertake thls flexibly according to need and will include some or all of the followlng The opportunlty to allow headteachers who have experlenced challenging pastoral clrcumstances to attend the DI0￿San Headteacher Retreat (£2,800) To facllltate attendance at the Che1rn5ford Church School Leadershlp Course (£2,000) To sUPPOrt the work of the Assistant Schools Officer, partlcularly . Developing nd Launching actlvltles, under the worklng title 'God in my Life,, that are aligned with Growlng Falth and allow the Diocese of St Albans to Grow Younger 50,000 5,250 10,500 2,450 7,000 4.800 LlalJlng byith the Dioeesan Youth Ml¥#loner Chlldr*n'• Mlsslon En•bl•r to promote young vocitlLif15. Particlpate In the revlslon of the diocesan vi510n 'Llvlng God's Love, with an emphasis on the falth of chlldren and young people. Facllltatlon of courses on RE, Christlan dlstlnctlveness. Chrfstlan ethos, leadership of church schools. asplrant church school leadership. Communlcatlng the work of the DBE and its schoo15 through soclal medla and the temily newsletter. 25,000 £105,000 Total of Dlo¢e$e of St Albans Awards: Page 2

HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 OBJEcfIvES AND AcfIviTIES Dlocese of Chelmsford: To Chelmsford Dlocesan Board of Educatlon 7 grants SEcfioN 48 (SIAMS) ENSPEcfioNS & TRAINENG Th15 grant supports our annual subscrlptlon for ￿r¢tralISed admln15tration of SIAMS. SCHOOL ADVISER SUPPORT.. RE & COLLEcfivE WORSHIP - The Schools, Team Includes a full-tlme REI Schools Advlser, and a part-tlme Collectlve Worshlpl Schoo15 Adviser. The grant contributes to salary and expenses for these people a5 well as the costs of three other AdvISe￿ who worf< with schools on their Christian haracter, vlslon etc.. CHILDREN'S WORK ADVISER- EARLY YEARS - The role of the Early Years Advlser Is to support parlshes to develop thelr ChrSstlan educatlon work wSth young famllles Includlng the provlslon of pre-school groups with a Christian focus. She also offers professlonal support to pre-school settlngs aeross the dlocese In sehools and parlshes., SCHOOL GOVERNANCE SUPPORT - The Diorest engages a consultant for this work. He provides regular tralnlng and hosts networking events. He also provides Intensive sUPPOrt to Governlng Boards when requlred. COMMUNICATIONS, TRAINING ANO NFfwoRKING - Thls grant suppcrts of our Comms Schools Administrator. A ￿ vised websSte was launched In 2021 and we corstlnue to develop otjr on-llne support and communication for schools. GLOBAL LINKS - Due to Covld travel restrlctlons we have unused money from prevlous Grants. Fundlng wlll be requlred In future years to continue to maintain our Ilnk5, MISSION IN SCHOOLS Thls grant wlll contrfbute to a range of new Initlatlves to support Mlsslon In Schools Including speclal servlce5 In the Cathedral, resources for schools, and focusing on support for those new to Church Schools and newly appolnted Headteachers. CHURCH SCHOOL LEADERSHIP DEVELOPMENT- This grant will 5UPPOrt development of leadership across the Diocese's 139 church schools. 7,000 40,000 10.000 20,000 15,000 5,000 8,000 Total of Dioce$e of Ch•lm$ford Awards: £105,000 Page 3

HOCKEIULL EDUCATIONAL FOUNDATION REPORT OF THE TRusfEES FOR THE YEAR ENDED 31ST MARCH 2023 OBJECTIVES AND AcfIviTXES Grantmaklng Grants to Indlvlduals In awarding grants to individuals, the Charity partlcular5y tries to a￿15t those students who, de5Plte the avallablllty of loans. grants and other Incentlves from national and local government, would flnd it difficult to Complete thelr courses because of speclal personal or financial circumstances. The Foundation also regularly assists exlstlng RE teachtrs who wlsh to Improve thelr quallflcatlons, often at conslderable cost to themselves. Grants are made to Indlvlduals In the followlng categorles, wlth a prlorlty to Rellglous Educatlon, and wlth regard to the Indlvldual's flnanclal need: student5 and teaching a5SiStants taking teaching quallflcatlons. or flrst degrees leadlng to teaching. teachers, teachlng asslstants and others In an edLtcatlonal capaclty seeking profe5s1onal development through full-tlme or part-time courses. students taklng other flrst degree courses, or courses Sn further education. those undertaklng research related to the practice of Rellglous Educatlon In schools or further education, others Involved in teaching and leading in voluntary. non-statutory education, Induding those concerned with adult and Christian education. stvdent5 from the dloceses of Chelmsford and 5t Albans undertaklng gap year proJetts wlth an educatlonal focus. In 2022-23 grants totalllng £40.145 (£61,468 Sn 2021-22) were pald to 43 {69 In 2021-22) Indlvlduals. 15 were tralnSng for prlmary educatlon, 30 for secondary education, of whlch 15 were taklng hlgher degree5 or dlplomas In eduratlon. There were no GAP year 5tudentS 5UPPQrted In 2022-23. Of the 43 education student5, 23 were following courses either dlrectly or partly related to the teaching of Rellglous Educatlon, and 20 were taking other educatlon courses or proftssional development in education. The grants provlded by the CharSty are there to help meet the costs of books, tralnlng materSals and fees where the student Is unable to meet these costs from Statutory sources or from hls/her own resources. Page 4

HOCKtRILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31￿ MARCH 2023 OBJECTIVES AND ACTIVITIES Corporate Grants for research and development In education: The Foundation looks to support activitles. courses. projects or research whlch are Ilkely to benefit Religious Education and the Chijrch's educatlonal worl(, with emphasis on activities whlch support the work of teachers or other adults involved in education. CULHAN ST GA8RIELS - Masters Scholarship scheme. Continying as a partner of thls scheme. It Is deslgned to offer a Bursary to RE Teachers and Teaching Asslstants to do a part tlme Masters programme at selerted Unlversltles. In 2021-22 the Bursary was £1,950 per year for up to two years. CMCS (Centre for Muslim-christian Studles) Surnrner School. The Summer School 15 desFgned to bring Musllms and Chrlstlans together to relate honestly think rSgorovsly through teachlngi research and public education. It Is aimed at fvture leade￿, teachers and scholars. LOUISE HALE PLAY THEiAPY - a Storybook Manual on Chlld Bereavement. A self-help book to SUPPOrt teachers. Tas and middays, eounsellors and others. We grant alded Loulse through her play therapy postgraduate quallflcation. PHILIP'S CENTRE - A project to bnng "Faith PractEtioners' to rural schoo15 across the East Midlands. We supported thern with a grant of £3,000 In 17118 for a project researching schools, statutory duty to provide RE. COMFORT INTERNATIONAL - A Christlan charlty provldlng upskllllng for teachers In sd)ools In DR Congo (thls Is the second year of an ongolng project). INNERVATION TRUST - ISlngPOP project In Dlocese of Chelmsford. Matched funding for 5 Schools to partlcipate in using their materlals. rEP - St Albans & Harpenden Chnstian Education Pro3ert. An ecumanlcal proJect provldlng a Chrlstlan approach to schools, work St Albans and Harpenden schools. In the past we have supported the tralnlng of volunteets and Intems and a resource for Teaching RE Jnd addresslng Mental Health Issues. Th1$ request Is to help support the deployment of the new Imatter resources. FAITH IN SCHOOLS- NEWHAM the further development of RE:Dlscovery (a downloadable Christian RE resource) to include Volces on Video - interective on-line Interviews with Christlans from dlflerent denominations etc. NATRE through RE TODAY - Grant Fundlng requested For the delivery of S of 9 InltSal Teacher Education RE Confe￿nceS In unlversltles across England almed at graduates studylng to become Secondary RE Teachers. HOCKEFULL COLLEGE ASSOCTATION Requestlng flnanclal sUPPOrt for Its flnal ReunSon in October 2022. The Secretary has in the past attended a number of these blannual reunion5 and they financlally supported the produrtion of the College History whlch was commissloned by HEF in the early 2000,5. 11,700 5,000 1,000 2,000 1,187 3,500 5.000 5,000 2,000 2,000 Total of Corporate Grants: £39,577 Total ol Indlvldu•l or¥nt$: £40,145 Total ot all Grants: É289.722 The Foundatlon monitor5 the effertiveness of its work by recelvlng annual reports from organlsatlons whieh receive grants, and by requirin9 indepondent annual progress reports on indlvlduBls it supports before any grant Is renewed. Feedback from tutors and students Contlnues to show that even the limited grants provided by the Foundatlon to Indlvlduals can make a vltal dIffe￿nce to thelr study. Durlng the year ended 31 March 2023 £289.722 (£290.418 in 2021-22) wa5 distributed in grdnts. The cumulative total of grants d15trfbuted slnce the Chanty was formed in 1977 has now reached E8,449.774. ACHIEVEMENT AND PERFORMANCE Investment Policy ThÈ FDundation's investment priority is to malntaln the real valiRe nf It£ rapital investment nver the lono term, but It a150 seek5 Sutricient income from Investments to allow an increase in grants distributed which at least matches wage Inflatlon measured over any fjve-year period. Page 5

HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 ACHIEVEMENT AND PERFORMANCE Performance The Charity's pollcy Is that overall expenditure each year Should nomially match the Income forecast for that year. In 2022-23 Investment Income received InC￿aSed by 8.25Wo (compared wlth a 2,34% decrease In 2021-22). The value of Grants dlstr6buted In 2022-23 decreased by 0.24% when cornpared with the prevlous year (It decreased by 11.26% In 2021-22). Whllst the CCLA Property Fund Income has remalned stetlc over the period of these accounts. income from the CCLA Investment Fund and from Chanftjnd has continued to recover followlng the Covld-19 pandemic. The value of our Investments over the perlod of these accounts decreased by 6.180k (In the comparable perlod In 2021-22 there was an Increase of 8.50%). The valuatlon of our Investments In the CCLA Investment Fund and In Charlfund contlnued to recover as we come out of the pandernic. The CCLA Property Fund Still gives some cause for concem in that although the valuatlons are now tracking our other holdings, the income has remalned static. The pandemSc has contlnued to have some effert on our Investments but thls has been replaced by the volatility In the markets caused by the war In the Ukralne. The Flnance Commlttee will contlnue to monltor the sltuatlon closely. FINANCIAL REVIEW Principal fundlng sources The Foundation's income dèrlves almost entirely frorn endowed capital invested with CBF Fun*Js and Charlfund. CBF Is a common Investment fund managed by CCLA Investment Management Limited, and funds are Invested following the guldelines of the Ethlcal Lnvestment Advisory Group. Charlfund, managed by M&G Investments, Is an exempt unlt trust whlch Is a pooled fund for charftles. Charlfund excludes tobacco companles from Its portfollo. The Flnance Committee regularly monltors the performance of Investments and reports to the Foundation Council. There has been no charkge in the allocatlon of funds durlng the year. The Foundatlon does not engage In any significant fundraislngi though donations and legacles, malnly from former members of Hocker151 College, are occasionally recelved. Re••rves pollcy These Investments have provlded a relatlvely Stable income, but a reserve Is held to ensure that the Foundatlon can (l) avoid sudden reductlons In grant expendltur@ should Income fall,. (2) ￿spOnd promptly to unforÈseen requests to support causes which are central to the Foundatlon'5 remlt.. and (3) meet the costs of rlsks for which the Foundatlon self-in5ures. In the 2011-12 ftnanclal year the Foundation un¢Jertook a review of its Reserves Pollcy In the light of the move from offerlng grants over a number of years tg that of annual grants whlch can be renewed on further appllcatlon In subsequent years. To this end it has adopted the followlng Reserves Pollcy,. 'The Reserves Pollcy of the Foundatlon Is that a Reserve of £60.000 be maintained, and that the move to this pollLry should take place over period of 3 to 4 year5, i.e. by allocatlng over the next 3 years a hlgher amount for grants than prevlously, rather than movlng dlrectly to the new level of reserve by maklng a very large allocation to grants in one year." The TrusEees as part of the change of year end declslon decided to maintain thi5 reserves policy. As part of its ong0Sng stewardship The Finance Committee reviews this pollcy every year. In recent ytrors a iiuiiiber or ractorn liave •rl>en that affect the Jtudent environment in whlch the HDekcrill Educatlonal Trust operates: l) A small but slgnlficant number of Grants are not taken up as the students concerned a￿ unable to put together the finance package reqLblred to meet the total cost of their course; and 2) UnEversitles are maklng ever later offer5 of places In order to meet thelr target enrolments resulting in an increaslng number of late applications for grants. The advent of the Covid -19 pandemic has added an extra layer of complexlty to thls environment. Consequentlally all these factors have contributed to the difficulty in reaching our target reserve. The Finance Commlttee and the Grants Commlttee wlll contlnue to monltor this situatlon closely. Page 6

HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 FUTURE PLANS As In previous years the Charity wlll contlnue to mon5tor and adapt it5 programme of grant5 for individuals to ensure its funds are used to best effect. In 2022-23 we continued as a partner in the 3ForRE Scheme, run oft behalf of the Ac￿ by the Culham St Gabriels Tnjst and now reimaglned as The Masters Stholar5hlp Scheme. The Scheme provldes grants to seNlng RE Teachets and Teachlng Asslstants to help them Improve thelr quallflcation5 to Masters Degree level vla part tlme courses at selected Universltles. Thls scheme is supported Jointly by members of the Accr and it shows our commltment to SUPPOrting the RE teacher post thelr Initial tralnlng. The Charfty also supports ecumenlcal schools work Inltiatlves by providlng "Seed com" fundlng and In 2022-23 thls Included Falth In Schools - Newham and the St Albans & Harpenden Chrlstian Educatlon ProJe¢t. RE resources is another area the charlty 15 Involved in, provlding some fundlng for the development of a Storybook Manual of Chlld Bereavement and associated teachlng materials. The Author, Louise Hale, developed the idea tluring her postgraduate studles whSch we part funded. Sddly, we must report the closL>re of the Hockerlll College Assoclatlon the Alumnl Asso¢latlon for past students of the orlglnal Hockerlll C of E Prlmary Teacher Trainlng College In Blshops Stortford. Its flnal Reunlon took place In October 2022 and was sponsored by the Trust. The Charfty's website contlnues to prove to be a very useful a55et in contactlng pr05pertive grantees and In provldlng them with the latest infomatlon about the Foundation, its objectlves and the grant process. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charlty Is controlled by Its governlng document, a deed of tnjst, and constitutes an unlncorporated charlty. Hockerfll College, 8ishop'5 Stortford, was founded in 1852 to train women teachers who "would go to schoo15 in the servlce of humanity" The College was provlded by the Dlocese of Rochester and much of the money requlred was ralsed by subscription In Essex and Hertlordshlre, whlch were at that tlme In that Dloeese. Over the following 125 years the provlslon of edueatlon and attltudes towards It changed as both Church and State assumed an Increaslng responslblllty for a natlonal network of prlmary schoo15, for the provlsion of secondary schools, and for the tralnlng of teaGhers. In 1976 it was declded that fewer teachers would be reqLtlred for trainingi and the Secretary of State for Educatlon and Sclence dlretted that Hockerlll College and a number of other slmllar colleges "should have no further Intake of students,,,and that the long and honourable hlstory of these Colleges should be brought to a close. The Hockerlll Educational Foundation was establlshed to perpetuate the name of the College and the Intention of It5 Founders. Page 7

HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 STRUCTURe, GoveRNANCE AND MANAGEMENT ObJectSves and aims The object of the Charity is the advancement of either higher or further education or both In one or more of the following ways.. (a) the promotlon of the educatlon and trdining of persons who are. or Intend to become. engaged as teachers or otherwise In work connected wlth rellglous educatlon. (b) the promotlon of research In, and development of, religious edutatlon. (c) the provision and condutt, or assIStan￿ In the provlslon and condutt of a chapel and chaplaincy providing for students, rtllglous worship, instnjction and care; (d) the prornotlon of education by the provision of Instructlon, classes, lettures, books, Ilbrarles and reading rooms- making grants to young persons In need of financial a55i5tance to enable them to attend an estab115hment of hlgher or fijrther education or otherwlse to pursue thelr educatlon; and (fj such other ways as the Trustee may from tlme to tlme determlne. (e) In furtherlng the object speclfied above the Charity shall.. (a) act In such a manner as will advance educatlon In accordance wlth the doctrtnes, rltes and praciices of the Church of England. and (b) have regard to the needs of persons undergolng tralning as teacher5. The Charlty currently meets these objertlves by maklng grants in the following areas- (a) Grant5 to Indivldual teachers and others In an educatlonal capacltyi either tralnlng to teach or seeklng to develop thelr professlonal ablllties and qualifications, partlculèrly In Rellglous Educatlon (b) Grants to Indlvl(Juals taklng other first degree or further educatlon courses, excludlng courses which lead dlrectly to careers other than teachlng. Tralnlng and 5UPPOrt for the Church's educatlonal work In the dioceses of Chelmsford and St Alban$ (d) Research, development and support grants to organlsatlons In the fleld of Rellglous Education. (c) The Foundatlon regards grant-maklng as its maln actlvlty and nomially does not directly undertake other actlvltles. For Its flrst 25 years, untll 2003, the Charity also promoted an annual lecture on some aspect of educatlon, many of whlch have made a lastlng contributlon to educatlonal debate, and copies are stlll avallable from the charlty. In 2010 the Charity worklng wlth NATRE (the Natlonal Assoclatlon of Teachers of Rellgious Education Sntroduced the Hockerlll - NATRE Prize for Innovatlon In RE Teachlng. Thls Annual Prize was first awarded in the sprlng of 2011 In both the Prfmary and Secondary 5ertors (now discontlnued). The Charity Is a member of the RE Council of England and Wales whlch reflects the sUPPOrt st gives to the RE community. It Continues to support the RE Quallty Mark whlch Is now admSnlstered by the RE Councll. The Trustees has referred to the guidance contèlned In the Charity Commission's general guldance on public benefit when revlewing Its airns and objectives and In plannlng its future activities. In particular, the Trustees considers how planned actlvlties will contrrbute to the aims and objettives they have set. Page 8

HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governance and Management The Hockerill Educational Foundatlon was endowed with the proceeds of the sale of the College and established as a charity number 311018 under a Scheme prepared by the Charity Commissioners in 1977, and amended by the Charity Commlssion on 19th April 1988. It is managed by the Hockerfll Educatlonal Company a company limlted by ouarantee, Incorporated under a memorandum and articles of assoclatlon dated 29th July 1987, registered nurnber 2151348. The Company Is réglstered as a charlty number 297860. The Dirertors of the Hockerlll Educatlonal Company are also members of the Hockerlll Foundatlon Councll. Four directors/trustees are ex officlo, two each are appointed for a period OF five years by the Bishops of Chelmsford and St Albans. and four are appolnted for a period of four years by other bodies of the Dloceses of Chelmsford and St Albans. There Is provlslon for up to a fijrther three tNstees to be co-opted. New trustees are normally experlenced trustees of other bodies,. they receive Indurtlon In the work of the Foundation and ar offered such further training as trustees as may be necessary. The Foundatlon Councll normally meets twlce a year to determlne pollcy and strategy, and to monltor the flnances and grant-making. In addition, the finance commlttee nomially meets twice a year to oversee the Foundation's Investments, flnancial management and audlt, and to make budget and other recommendatlons. The grants committee meets normally twlce a year to consider and approve appllcations for grants. Operational and finanel81 management Is delegated wlth approprlate controls to the Secretary of the Foundatlon, who Is a part-tlme pald employee. At the start of the Covld 19 pandemic all these meetlngs moved on-llne. In 2022-23 all meetlng5 were again held virtually apart from the November Hockerlll Foundatlon Council / Hockerill Educatlonal Company meeting whlch was held In person. The Foundatlon has Ilnks wlth the Dloceses of Chelmsford and St Albans, from whose areas the orlglnal fundlng of the college was drawn, and it Is a member of the Assoclatlon of Church College Trusts, 8 group Of trusts wlth slmllar orfglns and charltable aims. The Council has approved a Rlsk Management Policy for the charityi 5ettSn9 Out the rlsks to which the charity 15 exposed and the means by whlch the charity seeks to manage these dsks. Thls Is revlewed annually by comparlng the exlstlng policy with current guldance offered by the Charlty Commlsslon. No changes were felt to be requlred thls year. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number 311018 Principal address 3 The Swallows Harlow Essex CM17 OAR Page 9

HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 Trustees Corporate Trustee: The Hockerill Educatlonal Company Llmlted The followlng Members of tho Foundatlon Councll who are also Trustee5 of tho charlty have held office since l April 2022: Chalrman: The Venerable Janet Mackenzle, Archdeacon of Hertford Ex OffIcio: The Right Reverend Dr Gull Francls-Dehqanl, Blshop of Chelmsford The Rlght Reverend Dr Alan Smlth, Blshop of St Albans Canon Davld Morton, Director of Educatlon, Dloce5e of St Albans Mrs Carrie Prior. Director of Educatlon, Diocese of Chelmsford (from January 2023) Diocesan Trustees: The Venerable Janet Mackenzle The Venerable Robin King Appointed by: Blshop of St Alban5 8i5hop of Chelmsford Nomlnatlve Trustee8: Mrs Anthea Kenna Mrs Judy Klng Mr David Lodge Mrs Hannah Potter Nomlnated by.. Chelmsford Dlocesan Board of Educatlon St Albans obocesan Board of Educatlon st Albans Olocesan Board of Educatlon Bish¢Jp'5 Council of the Dlocese of St Albans Co-opted TTUSt••B: Mr Colln Blrd Janet Scott Secretary: Mr Derek J Humphrey 3 The Swallows Harlow Essex CM17 OAR Telephone.. [phone] Email.. [e-mail] Web: www.hockerillfoundatlon.org.uk Audltors Clemence Hoar Cummlngs Chartered Accountants and Statutory Audltor Riverside House 1-5 Como Street Romford Essex RM7 7DN Solicitors Lee Bolton Monier - Wllllams l The Sanctuary Westminster London SWIP 3Jr Page 10

HOCKERXLL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 REFERENCE AND ADMINISTRATIVE DETAILS Investment Managers CCIA Investment Management Limited One Angel Lane London EC4R 3AB M & G Securltles Llmlted 10 Fenchurch Street London EC4M SAG Bankars 8arclay5 Bank PLC 10 North Street 81shop's Stortford Herts CM23 2LH STATEMENT OF TRU￿EE5, RESPONSIBILITIES The trustees are responsible for preparlng the Report of the TrLJStees and the flnanclal Statements In accordan￿ wlth appllcable law and United Klngdom Accounting Standards Iunlted Klngdom Generally Accepted Accountlng Prartlce) Includlng Financial Reportlng Standard 102 'The Flnanclal Reportlng standard appllcable In the UK and Republlc of Ireland" The law appllcable to charitie5 in Enoland and Wales, the Charltles Art 2011, Charity (Accounts and Reports} Regulations 2008 and the provlslons of the trust deed requlres the tnjstees to prepare financlal statements for each financial year whlch glve a true and fair vlew of the state of affairs of the charity and of the Incomlng resources and appllcatlon of resources, Includlng the Income and expendlture, of the charlty for that perlod. In preparlng those flnanclal statements, the trustees art ￿qUired to select sultable accountlng pollcles and then apply them conslstently; observe the methods and principles In the Charlty SORP; ake judgement5 and estimates that are reasonable and prudent- prepare the flnanclal statements on the golng concern bas15 unless it is Inapproprfate to presume that the charity will contlnue In buslness. The trustees are responslble for keeplng proper accountlng records whSch dlsclose wlth reasonable accuracy at any time the financlal posltlon of the charlty and to enable them to ensure that the financlal statements comply wlth the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provlslon5 of the trust deed. They are also responsible for safeguardlng the assets of the charity and hence for taklng reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the board of trustees on by., and slgned on Its behalf tustee Page 11

REPORT OF THE INDEPENDENT AUDXTORS TO THE TRUSTEES OF HOCKERILL EDUCATIONAL FOUNDATION Opinion We have audlted the financlal statements of Hockerill Educational Foundation (the 'charity') for the year ended 31st March 2023 whlch comprise the Statement of Financial Actlvlties, the Balance Sheet and notes to the flnancSal statements, including a summary of signlflcant accounting pollcles. The financlal reportlng framework that has been applied in thelr preparation is appllcable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prattice), including Financial Reporting Standard 102 The Flnancial Repprtlng Standard app5icable In the UK and Republic of Ireland.. In our oplnlon the financlal statements: give a true and fair view of the state of the charity's affalrs as at 31st March 2023 and of Its Incom5ng resources and appllcation of resources, for the year then ended; have been properly prepared In accordance with Unlted Kingdom Generally Accepted Accounting Practice, includlng Financial Reporting Standard 102 The Flnancial Reporting Standard appllcable In the UK and Republic of Ireland and have been prepared in accordan￿ wlth the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audlt In accordance wlth Internatlonal Standard5 on Audltlng (UK) (15As (UK)) and applicable law. Our responsibilities under those standards are fijrther descrlbed In the Audltors, responslbllitles for the aut11t of the financial statements section of our report. We are independent of the charlty In accordance wlth the ethlcal requlrements that a￿ relevant to Liur audit of the financial statements In the UK, includSng the FRC'S Ethical St8ndard, and we have fijlfllled our other ethical re5ponslbllltles In accordance wlth these requlrements. We belleve that the audlt evldence we have obtained 1$ sufflclent and approprlate to pmvlde a basls for our oplnlon. Concluslon5 relatlng to going concern In auditing the flnanclal Statements, we have concluded that the trustees, ijse of the golng concern basls of accounting In the preparaticn or the flnandal statements Is approprlate, Based on the work we have performed, we have not Identlfled any material uncertalntles relètlng to events or condltlons that, individu•lly or collectlvelyi m¥y ¢8$t slgnificant doubt on the charity's ability to contlnue as a golng concern for a perlod of at least twelve months from when the financial statements are authorlsed for Issue. Our ￿spOnsIbIlItIeS and the responslbilities of the trustees with respect to golng concern are descrlbed In the relevant sectlons of thls report. Oth•r Informatlon The trustees are responslble for the other Informètlon. The other Informatlon comprlses the Informatlon Included In the Annual Report, other than the flnanclal statements and our Report of the Independent. Auditors thereon. Our opinion on the financial statements does not cover the other informatlon and, except to the extent otherwise expllcltly stated In our report. we do not express any form of assurance concluslon the￿on. In connertlon with our audlt of the flnanclal statements, our respDnslbility Is to reaij the other Informatlon and, In doing so, conslder whether the other Information is materlally inconsistent wlth the flnanclal statements or our knowledge obtalned in the audit or otherwise appears to be materially mi55tited. Tf we Identify such material inconsistencies or apparent matertal mls5tatement5, we are requlred to determlne whp.ther this gives rlse to a material misstatement In the financial statements themselves. If. based on the we have performed wé conclud¢ that there is a rnaterijl miB¥t•t•rnent of this other infgrm4tipn. we are requlred to report that ratt. We have nothlng to report In thls ￿gard. Matters on whlch we are requlred to report by exceptlon We have nothing to report in respect of the following matters where the Charltles (Accounts and Reports) Regulatlons 2008 requlres U5 to report to you If, In our opinion: the Informatlon given in the Report of the Trustees Is Inconslstent In any material respect with the flnanclal statements; or 5ufflclent accountlng records have not been kept; or the flnancial statements are not in agreement with the accountlng records and retums. or we have not received all the information and explanatlons we require for our audit. Pa9e 12

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HOCKERILL EDUCATIONAL FOUNDATION Responslbllltles of trustees As explalned more fully In the Statement of Trustee5' Responsibilities, the trustees are responsible for the preparatlon of the flnanclal statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparatlon of financlal statements that are f￿e from material misstatement. whether due to fraud or error. In preparing the flnanclal statements, the trustees are re5ponslble for assesslng the charlty's ability to contlnue as a golng concern, disclosingj as applicable, matters related to going concern and uslng the going concern basis of accounting unless the trustees elther Intend to Ilquldate the charlty or to cease operations, or have no realistlc alternative but to do so. Our responslbllltles for the audlt of the flnan¢lal statements We have been appointed as auditors under Section 144 of the Charitie5 Act 2011 and report in accordance with the Art and relevant regulations made or having effert thereunder. Our objectlves are to obtain reasonable assurance about whether the financlal statements as a whole are free from materlal mlsstatement, whether due to fraud or error, and to Issue a Report of the Independent Auditors that Includes our opinion. Reasonable assurance 15 a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material mlsstatement when It exlsts. Mlsstatements can arise from fraud or error and are considered rnaterlal If, individually or in the aggregate, they coulrj ￿aSonablY be expacted to Influence the economlc declslons of users taken on the basis of these financial statements. The extent to whlch our procedures are capable of detectlng Irregularltles, Includlng fraud Is detalled below: We have designed our work to ensu￿ that laws and ￿QLlIatIonS have been adhered to, and the transactlons undertaken by the Charlty are properly reflected In the flnanclal statements, We have obtained a detailed understsndlng of the Charity's Internal control systems and we have used the knowledge gained to Identify any areas of risk of mis-statement or fraud. We have then deslgned gur audlt tests In each area to Identlfy whether In respect of the transactlons we have selected for testlng the relevant controls have operated as expecied. A further description of our responsibilities for the audit of the financlal statements Is locatÈd on the Financial Reporting Councll's website at www.frc.org.uklauditorsresponsibllitles. Thls descrlptlon forms part of our Report of the Independent Audltors. Use of our report Thls report is made solely to the charfty's trustees, as a bodyi In accordance wlth Part 4 of the Charftles (Accounts and Report5) Regulations 2008. Our audit work has been undertaken so that we mlght state to the charity's tnJ5tees those matters we are required to State to them in an auditor5, report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume respon5iblllty to anyone other than the charity and the charity's trustees as a body. for our audit work, for thls report, or for the oplnlons we have formed, Clemence Hoar Cummlng5 Chartered Accountants and statutory Auditor Rlv¢rsid4 Houso 1-5 Corno Street Romford Essex RM7 7DN Date., Page 13

HOCKERILL EDUCATIONAL FOUNDATION srATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023 2023 Total funds 2022 Total funds Unrestrltted Endowment funds fvnd Notes INCOME AND ENDOWMENTS FROM Charitable attivitie5 55 55 65 Investment income 356,102 356,102 328,971 Total 356,157 356,157 329,036 EXPENDITURE ON Charltablé actlvltl•s Grant fundlng of actlvltles Support Costs 289,722 41,981 289,722 41,981 290,418 42,196 Total 331,703 331,703 332,614 Net galns1(losses) on Investments (7,525) (510,102) (517,627) 656,508 NET INCOME/(EXPENDITURE) 16,929 {510,102) (493.173) 652,930 RECONCILIATION OF FUNDS Total funds brought forward 135,708 8,253,156 8,388,864 7,735,934 TOTAL FUNDS CARIUED PORWARD 152.637 7,743,054 7,895,691 8,388,864 The notes form part of these financial statements Page 14

HOCKERILL EDUCATXONAL FOUNDATION BALANCE SHEET 31ST MARCH 2023 2023 Total funds 2022 Total funds Unre5trlcted Endowrnent funds fund Notes FIXED ASS￿5 Investments 115,593 7.743.054 7.858,647 8,376,273 CURRENT ASSETS Cash at bank 40,156 40,156 15,555 CREDITORS Amounts ralllng due wlthln one year (3.112) (3,112) (2,964) NET CURRENT ASSETS 37,044 37.044 12,591 TOTAL ASSETS LESS CURRENT LIABILrrIES 152,637 7,743,054 7,895,691 8,388,864 NET ASSETS 152,637 7,743,054 7,895,691 8,388,864 FUNDS Unrestricted funds Endowment funds io 152,637 7,743,054 135,708 8,253,156 TOTAL FUNDS 7,895,691 8,388,864 The fina clal statements were approved by the Board of Trustees and author15ed for 155ue on and were signed on its behalf by: rustee [ VS+4 The notes fomi part of these flnanclal statements P?ge 15

HOCKERILL EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 ACCOUNTING POLXCXES Basls of preparlng the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared In accordance wlth the Charltles SORP (FRS 1021 'Accountlng and Reportlng by Charltles.. Statement of Recomrnende(I Practice applicable to charitles preparlng thelr account5 In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republic of Ireland (FRS 102) (effectlve l January 2019),, Flnanclal Reporting Standard 102 'The Flnancial Reportlng Standard applicable In the UK and Republlc of Ireland. and the Charlties Act 2011. The flnanclal statement5 have been prepared under the hlstorlcal cost convention, with the exception of investrnents which are Included at market value. Incom• All income 55 recognlsed In the Statement of Ffjnanclal Actlvltles onte the charlty has entitlement to the funds, It Is probable that the Income will be recelved and the amount can be measured rellably. Expendlture abilltles are recognised 45 expenditure as soon as there Is a legal or eonstructlve obligation committing the charity to that expentllture, It Is probable that a transfer of economlc beneflts will be requlred in settlement and the amount of the oblSgatSon can be measured rellably. ExpendSture Is acccunted for on an accruals basls and has been classlfled under headlngs that aggregat all cost related to the category. Where costs cannot be dlrectly attrlbuted to partlcular headlngs they have been allocated to actlvltles on a basls conslstent wlth the use of resources. Provision for grants is made In fvll In the year of their approval. Govemance costs Governance costs are the costs assoclated wlth the govemance arrangements of the charlty, whlch relate to the general runnlng of the charfty as opposed to those costs assoclated wlth charltable actlvity. Ineluded wlthln thls category are cost5 assoelated wlth the strategic 8$ opposed to day-to-day management of the charlty's actlvltles. Allocatlon and apportlonmont of costs The charity attributes 90% of administrative 5UPPOrt costs such as staff and office cost5 to Its charitabl¢ actlvltles, and 10% to the governance of the ¢harlty on the basls of employment hours. Taxatlon The charity is exempt from corporatlon tax to the extent thèt any Income and gèlns on Its charitable actlvltles are applied to its charitable obJettlves. Fund accountlng The endowment fund represents those assets whlch must be held permanently by thÈ charltyi princlpally Investment5. Income arf5ing on the endowment fund can be used In accordance with the objects of the charlty and Is Included as unrestricted income. Any capltal galns or losses arising on the investments form a part of the fvnd. Investment management charges and legal ¥dvlce relatlng to the fund, are charged against the fund. Unrestricted funds comprfse those funds whlch the trustee Is f￿e to use In accordance wlth the charitable otsJecLS, Deslgnated funds are unrestrtcted funds, set aslde by the trustee for a partlcular purpose. Investments and investment income Investments are stated at market value at the balance sheet date. When investments are dlsposed of, the cost of each unlt Is taken to be the average cost of the units immedlately prior to the disposal. The galns or losses on dlsposal are added to the fund from which the Investment was made. Any gain or 1055 on revaluatlon 15 taken to the statement of rinancial activities. Investment income is accounted for In the period in which the charity 15 entitled to the receipt. Page 16 continued...

HOCKEIULL EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2023 INVESTMENT INCOME Year Ended 31.3.23 Year Ended 31.3.22 Dlvldends C8F Investment funds DSvidends - CBF property funds Dividends - Charifun(J investment funds Interest on cash deposits 88,606 38.746 227,266 1.484 86,025 38.746 204,131 69 356,102 328,972 CHARThABLe ACTIVITIES COSTS Grant funding of activitie5 (see note Support costs 4) Totals Grant fundlng of actlvitles Support Costs 289,722 289,722 41.981 41.981 289,722 41,981 331,703 fjRANTS PAYABLe 2023 2022 Grant funding of aLtivltles 289,722 290,418 The total grants pald to Institutlons durlng the year were as follows.. Year Ended Year Ended 31.3.23 31.3.22 Dloce5e of Chelrnsford Dlocese of St Alban5 other Corporate Grants 105,000 105,000 39,577 loo.000 loo.000 28.950 249,577 228,950 (The grants actually pald durlng the perlod to 31 Mèrcl) 2022 are listed on pages 2-4 of the Tru5l'ees Report) Page 17 continued...

HOCKERILL EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS - eontlnued FOR THE YEAR ENDED 31ST MARCH 2023 TRusfEES' REMUNERATION AND BENEFITS There were no trnstees, remuneration or other beneflts for the year ended 31st March 2023 nor for the year ended 31st March 2022. Trustees, expense• Travel expenses amountlng to £152 {2022 - £104) were pald to 4 12022 3) Councll Members durlng the year. The c05t of Tru5tee5 meetings during the year amounted to £125 (2022 É343). srAFF COSTS The average monthly number of employee5 during the year was as follows.. 2023 2022 Office No employees received emoluments In excess of £60,000. COMPARATIVES FOR THE STAYEMENT OF FINANCIAL ACTIVITIES Unre5trlcted Endowment funds fund Total funds INCOME AND ENDOWMENTS FROM Charitable artlvltles 65 65 Investment Income 328,971 328,971 Total 329,036 329,036 EXPENDITURE ON Charltabla actlvitie$ Grant fundSng of activltles Support Costs 290,418 42,196 290,418 42,196 Total 332,614 332,614 Net galns on Investments 32,382 624,126 656,508 NET INCOME 28,804 624,126 652,930 RECONCXLIATION OF FUNDS Total funds brought forward 106,904 7,629,030 7,735,934 TOTAL FUNDS CARRIED FORWARD 135.708 8,253,156 8,388.864 Page 18 continued...

HOCKERILL EDUCATIONAL FOUNDATION NOTES TO THE FINANCZAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2023 FIXED ASSET INVESTMENTS Investments are held In the CBF funds at CCLA Investment Management Umlted, and in Chartfund at M&G Securltles Llmited. Iftvostme nt Fund Property Fund Charlfund Total Market value at 1st April 2022 3.172.927 903,775 4,299.573 8.376.275 Addltlonsl(Dlsposals) Change in value during the year (112,740) (142,128) 1262,759) (517,627) Market value at 31st March 2023 3,060.187 761,647 4,036,814 7,858,648 Historical cost.. At 31 March 2023 261,904 883,174 3,137.565 4,282.643 At 31 March 2022 261,904 883,174 3,137,565 4,282,643 The loss on Investments reported above are unreallsed, thls change In value reflects the volatility In the market value as at the year ended 31st March 2023. CREDITORS: AMOUNTS FALUNG DUE WITHXN ONE YEAR 2023 2022 Audit fee Fee to Corporate Trustee 2,801 311 2,676 288 3,112 2,964 10. MOVEMENT IN FUNDS Net movement In funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 135,708 16,929 152,637 Endowrnent funds Endowment Fund 8.253.156 (510.102) 7,743.054 TOTAL FUNDS 8,388,864 (493,173) 7,895,691 Page 19 contlnued...

HOCKERILL EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023 io. MOVEMENT IN FUNDS- ¢ontlnu•d Net movement In funds, included in the above are as follow5- Incomin9 resources Resources expended Gains and 105ses Movement In ftinds Unmstrlcted fund$ General fund 356,157 {331,703) 17,525) 16.929 Endowment funds Endowment Fund (510,102) (510,102) TOTAL FUNDS 356,157 (331,703) (517.627) (493.173) CompJr4tlve$ for mov•m•nt In funds Net movement in funds At 31.3.22 At 1.4.21 Unrestrlcted fund$ General fund 106,904 28,804 135,708 Endowm•nt funds Endowment Fund 7,629,030 624.126 8,253,156 TOTAL FUNDS 7,735.934 652,930 8,388,864 Comparatlve net movement In funds, Included in the above are as follows: Incoming sources Resource5 expended Gains ond losses Movement In funds Unrestrlcted funds General fund 329.036 (332.614) 32.382 28.804 Endowment funds Endowment Fund 624.126 624,126 TOTAL FUNDS 329.036 (332.614) 656,508 652,930 Page 20 contlnued...

HOCKEIULL EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023 10. MOVEMENT IN FUNDS - continuod A current year 12 months and prlor year 12 months combined posltlon Is as follows: Net movement In funds At 31.3.23 At 1.4.21 Unrn$trl¢ted funds Generdl fund 106,904 45,733 152,637 Endowrnént funds Endowment Fund 7,629,030 114,024 7,743,054 TOTAL FUNDS 7,735,934 159,757 7,895,691 A current year 12 months and prlor year 12 months eamblned net movement In funds, Included In the above are as follows: Incoming resources Resources expended Galns and Movement losses In funds Unrestrlcted funds General fund 685,193 (664,317) 24,857 45,733 Endowment funds Endowment Fund 114,024 114,024 TOTAL FUNDS 685.193 1664,317) 138,881 159,757 11. RELATED PARTY DZSCLOSURES The Hockerill Educatlonal Foundatlon Is administered anfl managed under a scheme approved and establlshed by the Charlty Commlsslon for England and Wales on 19 Aprll 1988. The Investments of the Foundatlon are held In the name of the Hockerlll Educatlonal Company Llmlted as Trustee of the Charity. All the dlrertors of the Hockerill Educatlonal Company LimitÈd are members of the Councll of the Hockerill Educatlonal Foundatlon. Durtng the year, the Foundatlon was charged £324 (2022 £301) by the Hockerlll Educatlonal Company Limited in respect of custodlan expenses. At 31 March 2022 £324 (2022 - £301) w8$ from thE Foundatson to the Hockorlll Cdurutlon•l Compprby Lirnited. Two Councll Members are Blshops from the Dloceses of Chelmsford and St Albans. Two Covncll Members are Archdeacons and two are Directors of Education of these dioceses. fheir names and details are glven on page 11 of the Report and Financlal Statements. Durfng the perfod. grants were paid to Chelmsford Dlocese totalling £105,000 {2022 £100,000) and to St Albans Dlocese totalllng £105,000 (2022 £100,000). Grant awards In respett of the perlod to 31 March 2023 are shown In note 4. Page 21

HOCKERILL EDUCATIONAL FOUNDATION DEfAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023 2023 2022 INCOME AND ENDOWMENTS Charitable a¢tlvit¢es Donatitsns 55 65 Inve•tment Income Investment Income 356.102 328.971 Total Incomlng resources 356,157 329,036 EXPENDrruRE Charltabl¢ actlvltl¢$ Grants to institutions Grants to individuals 249.577 40,145 228,950 61.468 289,722 290,418 Support costs Human r¢sour¢o$ Wages 34.144 35.144 other Insurance Office supplies, post & tel Computer/ website costs staff travel expenses ACCT and RE councll mernbershlp 353 2,622 529 94 830 327 1,987 344 94 893 4,428 3,645 Transf•r of Governance Costs Wages nsuran Offlce supplle5, P05t & tel Computer / website cost5 staff travel expenses ACCT and RE councll membershlp (3,415) (35) (260) (53) (9) (83) (3,514) 133) (199) (34) (9) (89) (3.855) (3.878) Govemance costs Tru5tee5' expense5 Audltors, remuneratlon Auditors, romuncratlon for non audlt work Governance Support Costs Costs of Trustees meetings 172 801 311 3,855 125 104 2,672 288 3,878 343 7.264 7,285 Total resources expended 331,703 332,614 t4et Income/(expendlture) 24,454 (3,578) This page does not fomi part of the statutory financial statements Page 22