REGISTEREDCHARITY NUMBER:311018 REPORTOFTHETRUSTEESAND FINANCIAL STATEMENTS FOR THE YEARENDED31STMARCH 2025 FOR HOCKERILL EDUCATIONAL FOUNDATION Clemence Hoar Cummings Chartered Accountants and Statutory Auditor Rlverslde House 1-5 Como Street Romford Essex RM7 7DN HOCKERILL EDUCATXONAL FOUNDATION CONTENTSOFTHE FINANCIALSTATEMENTS FOR THEYEAR ENDED 31ST MARCH 2025 Page Report of the Trustees i to li Report of the Independent Auditors 12 to 13 statement of Financlal Actlvltles 14 Balancesheat 15 Notes to the Flnanclal Statements 16 to 21 Detalled Statement of Flnanclal Activltle5 22 HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 The trustees present thelr report with the flnandaS statements of the charlty for the year ended 31st March 2025. The trustees have adopted the provisions of Accountlng and Reporting by Charities: ststement of Recommended Practlce appllcable to charitles preparing thelr accounts In accordance wlth the Financial Reportlng Standard appllcable In the UK and Republic of Ireland {FRS 102) (effectlve I January 2019). OBJECTIVES AND ACTIVITIES General From its InceptSon the Foundatlon has allocated approxlmately two-thlrds of Its annual grant fundlng to the church's educational work In the Dloceses of Chelmsford and St Albans, from whlch the origlnal fundlng of the college was ralsed, and one-thlrd to other corporate grants and grants to indlvlduals. The Charlty Invltes applicatlons for grants to be made by a published closlng date, taklng actlve steps to promote knowledge of Its grants through charity dlrectories, publlc websites, Its own webslte and by maklng Informatlon dlrectly available to approprlate colleges and religlous education networks. The Charlty's corporate grants are made on both a natlonal and an Internatlonal ba515' we help RE teachers In the UK by sponsorlng RE Infrastructure and are actively seeklng a new overseas partner. The Charity's Indlvldual grants help tralnee teachers throughoutthe UK whether they are studylng full-time, part- tlme or vla the Open Unlversity. The allocatlon to the two DI0￿Se$ In the period covered by thls report and accounts was £120,000 to each DI0￿Se. Page I HOCKERfLL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 OBJECTIVES ANI) ACTIVITIES Grants In supportof the ¢hurch's educational work A major part of the Foundatlon's objectlve is to support the Church of England's educatlonal work. partlcularly In the Dioceses of Chelrnsford and St Albans. Grants are always made for speclflc programmes or projects. Dlocese of St Albans: To St Albans Diocesan Board of Education 8 grants To support the work of the Diocesan RE Advlser . supportlng the work of SACRES In Hertfordshlre, Bedford Borough, Central Bedfordshlre and Luton,. The delivery of Professlonal Development to RE subject Leaders; The evelopment of advice guldance and resources to support the non-speclalist teachlng of Chrlstlanlty wlthln RE; Leadlng the development of high quallty RE across all schools in Central Bedfordshlre and Bedford Borough through the RE Soclety of 8edfordshlre. Tralnlng and Development (H15) . Developrnent of worklng relatlonshlps with the Cathedral Learnlng Department to Include shared tralnlng actlvltles such as an annual "away day" for upper KS2 puplls to explore thelr splrltuality at si Albans Cathedral {£2,500)' The dellvery and extenslon of InsplREd - a RE subject leader development programme run jolntly by tho Dioceses of St Albans and Canterbury (£3,500) - to all reglons wlthln the RE South East Group, Sncluding secondary provislon. Dlstlnctlve Chrlstlan Character (H13) :Developmentand delfvery of 'Heartfor the Earth" tralning and assoclated materla15 to embed the curated resource which wlll allow schools to theologlcally reflect on climate change and plan to reduce carbon emlsslons (E 1,0001; To facSlltate the dellvery of the 2024 Headteacher Conference on the theme of Chdstlan Leadershlp Sn schools {£5,000), To support the revlslon of "God In thls Place. to enable puplls to participate the Diocese's Year of Splrltual Renewal 2025 {£3,0001. 2025 Year of Splritual Renewal based on the Ilfe of St Alban, to dellver storytelllng v15its to 131 prlmary schools and create a booklet sharlng the falth storles of those working in church schools. Speclal Servlce5 In the Cathedral {H021 To enable the DBE to undertake speclal acts of worshlp, Including Harvest Festival in St Albans Cathedral. This grant funds aspects of the costs associated wlth runnlng major events, includlng AV equlpment, PA system, tollet hire and transport costs for d15advantaged chSldren who would otherwlse be unable to attend. SIAMS Inspectlon and Management (H03) . Support the natlonal SIAMS admlnlstrative and quality assurance programme. Church School Leadershlp Development (H14) This grant Is deslgned to support the development of leadershlp across the Dlocese's 137 church schools. It will uiidertake thls flexlbly accordlng to need and will Include some or all of the followlng: The opportunlly to allow headteachers who have experlenced challenglng pastoral clrcumstsnces to attend the Diocesan Headteacher Retreat {E2,6001; To facilitate attendance at the Chelmsford Church School Leadershlp Course (£2,400); To develop a bespoke leadershlp development programme for cluster5 of small rural schools. To Include theologlcal ratlonale and material to support the promotlon of a shared 'cluster" vlslon {£2,000). To support the work of the As51stant Schools OfficÈr, particularly . Leadlng the organlsatlon and plannlng of the Senlor Leader5; Retreat Facilitating courses on RE, Chrlstlan distinctiveness, Christian ethos, leadershlp in church schools, aspirant church school leaders; Leadlng resource creatlon and publication to support the DBE'S vision for educatlon; Communicating the work of the DBE and Its schools through soclal media and the termly newsletter. Total of Dlocese of St Albans Awards: 50,000 6,000 9,000 10,000 4,000 9,000 7,000 25,000 £120.000 Page 2 HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 OBJECTIVES AND ACTIVITIES Dlocese of Chelmsford: To Chelmsforij Dlocesan Board of Educatlon 12 grants - SUPPORTINGTHEWORK OFTHE DIOCESAN RE ADVISER: RE advlcel guidan and support for 139 schnols within the Diocese; Networklng opportunities for teachersand RE Leads; Supportto MATpartners on REcurrlculumdevelopment; Suppart work to SACRES and oversee CO￿ representatlves. SUPPORTING THE WORK OFTHE DIOCESAN CW ADVISER: Hlgh quallty support on CW to 139 Church Schools withln the Dlocese; Access to and promotlon of CW resources,. Networking opporeunitles for CW leaders. SIAMS INSPECTION: 5￿pportforNatl0nal SIAMS Admln15tratlon and qualltv assurance Programme. DBETO SCHOOL COMMUNICATION (Support to Educatlon Support Offlcer): Provlslon of targeted communlcatlon through newsletters and e-bulletlDS; Malntenance and updatlng of DBE website; Development of social medla proflle; ManagementofLearning & Development programme. CATHEDRAL SERVICES: Enable the use of the Cathedral forspeclflc servlces such as Year 6 leavers servlce. HT Commlsslonlng, Celcbratlon of HT'S, Dlverslty & Inclusion Pupll Day. SUPPORTfNG THE WORK OFTHE CHILDREN & FAMILIES EARLYYEARS ADVISER: Advlce, support and guidance to Early Years 8ettlngs across schools and churches; Networklng opporttsnltles; Provlslon of hlgh quallty CPD to Early Years settlngs across schools and churches. MISSION IN SCHOOLS, CHURCHES, AND HOMES: DevelopmentofGrowlng Falth opportunltles In partnershlp wlth the Chlldren. Youth & Fainilies Team. SCHOOL GOVERNANCE CONSULTANT: CPD programme and networklng opportunitle5 for school govemors; Bespoke support to Governlng Boards; Metttorlng support for new Chalrs of Governors; Provislon of In-llne Inductlon materlals; Support wlth policy development and appolntment of Foundation Govemors. GOVERNANCE DEVELOPNENT&SUPPORT Membershlp package from Natlonal Governdnce Assoclation & Confederatlon of Schools Trusts. QUALITY ASSURANCE & DATA ANALYSIS: Provision of Perspective Observatory on-llne programme; Effectlve monitorlng of school performance and development of Key Performance Indlcators (KPIS) resultlng in targeted use of DBE support. TRATNING &DEVELOPMENT: Support ofLearning and development package to scliools Includlng termly Networklng, bereavement & SIAMS Workshops. LEADERSHIP DEVELOPMENT: Provislon ofannual Reflection Dayforservlng school leaders. Annual HT conference- hlgh quality speakers- Subsldy for Church School Leadershlp Course; Resldential retreat with wellbelng focus for school leaders. 20,000 20,000 10,000 17,000 3,500 io,ooo 2,000 17,000 1,500 5,000 4,000 10.000 Total of Diocese of Chelmsford Awards: £120,000 Page 3 HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YÉAR ENDED 31ST MARCH 2025 OBJECTIVES AND ACTIVITIES Grantmaklng Grants to Indlvlduals In awardlng grants to individuals, the Charity particularly trles to assist those students who, despite the avallablllty of loans, grants and other Incentlves from national and local government, would flnd It difflcult to complete thelr courses because of speclal personal or flnancial circumstances. The Foundatlon also regularly as51Sts exlstlng RE teachers who wish to improve their qualifications, often at conslderable cost to themselves. Grants are made to indlviduals in the following categorles, with a prlorlty to Rellglous Educatlon, and wlth regard to the Indlvidual's flnanclal need: students and teachlng asslstants taklng teachlng qualificailons, orfirst degrees leadlng to teachlng. teachers, teachlng asslstants and others In an educatlonal eapadty seeklng professional development through full-tlme or part-time courses. students taking other first-degree courses, or courses In further educatlon. those undertaklng research related to the practice of Rellglous Educatlon In schools or further educatlon. others Involved In teachlng and leadlng In voluntary* non-statutory educatlon, Includlng those concerned with adult and Chri5tlan educatS0n. students from the dloceses ofchelmsford and St Albans undertaklng gap year projects wlth an educatltsnal focus. In 2024-25 grants totalllng £65,300 {£86,355 Sn 2023-24) were pald to 68 (84 In 2023-24) Indlvldubls. 26 were tralning for prlmary education. 39 for secondary educatlon, of whlch 12 were taklNg higher degree5 Qr dlplomas In educatlon. There were no GAP year students supported in 2024-25. Of the 68 educatlon students, 33 were followlng courses elther dlrectlyor partly related to the teaching of Rellglous Educatlon, and 35 were taklng other education courses or professlonal development In educatlon. 8 students were following the Church School Leadershlp course for the two DI0￿Se5 by the Diocese of Chelmsford. In 2024-25 the number of grants awarded remalned hlgh. The maln reason for thls was demand drlven In part by the cost-of-llvlng crfsls and the Trustees deslre to help where posslble. Another contrlbutlng factor was the Government'sdeclslon to remove fundlng fortheSubJeLt Knowledge Enhancement course wlth very little notlce. Tlie Subject Knowledge Enharbcement course Is offered by a number of Unlver51tles to PGCE RE stiidents whose flrst degree does not coverall the RE knowledge requlred by the PGCE; it15 a short course followpd in the weeks before the startof the PGCE The grants provlded by the Charity are there to help meetthe costs of books, tralnlng materlals and fees where the student Is unable to meet these costs from statutory source5 or from hlslher own resources. Page 4 HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 OBJECTIVESAND ACTIVITXES Corporate Grants for research and development Tn educatlon: The Foundatlon Sooks to support activitie5, courses, projects or research whlch are likely to benefit Rellgious Education and the Church's educatlonal work, with emphasis on actlvitles which support the work of teachers or other adults Involved In education. CULHAM STGABRIELS- Masters Scholarshlp scheme. Contlnulng asa partnerof thls scheme. It Is designed to offer a Bursary to RE Teachers and Teachlng Asslstants to do a part time Masters programme at selected Unlversltles. In 2024-25 the Bursary was £2,000 peryear for up totwo years. SOLONON ACADI-MICTRUST (Centre formusllm-christlan Studles)- Sumffler School. The Summer School Is deslgned to brlng Muslims and Chrlstians together to relate honestly and thlnk rlgorously through teachlng, research and public educatlon. It Is almed at future leaders, teachers and scholars. BRIDGE BUILDERS CHRISTIAN TRUST- SupportforReach Project- provldlng an orlginal vlrtual RE interactlve Journey for each group in a primary school. Project requlres the wrltlng of new materlals to allgn It to the Hertfordshlre RE curriculum. EASTOFENGLAND REGIONAL HUB-Supportforthe runnlngofthe Regional Hub designed to brlng together RE Leads, RE Inltial Teacher tralners, Unlversities, Teachlng Schools and RE Advlsers. QUEEN MARGARET UNIVERSITY EDINBURGH- Research Projectto Establish the Value of RE In Scottlsh schools and the impact of Professlonal Learnlng on changlng that Value. THE CROSS PROJECT- Fundlng to Increase the reach of the Cross Project, whlch provldes Chrlstlan based lessons Sn secondary schools across the Wakefield Dlstrlct. FARADAYINSTITUTE FORSCIENCE AND RELIGION- Requestlng funding to extend the reach of the Fl Youth and Schools programme whlch seeks to help School chlldren understand the Interactlons between sclence and rellglous falth. NATRE- EARLY YEARS TEACHER SUPPORT PROGRAMME {ECT) Developed from the experlence of the NEW2RE programme It Is deslgned to be better able to support the new RE Teacher In hlslher formative years. 12,000 5,000 3,000 5,000 5,500 2,000 10,000 5,450 Total of Corporate Grants: £47,950 Total of Indlvldual grants: £65,300 Total of all Grants: £353,250 The Foundatlon mottltors the effectlvenes5 of Its work by recelvlng annual reports from orgènlsatlons whlch recelve grants. and by requiring Independent annual progress reports on Indlviduals It supports before any grant Is renewed. Feedback from tutoi's and students continues to show that even the Ilmlted grants provlded by the Foundatlon to Indlvlduals can make a vital dlfference to thelr study. Durlng the year ended 31 March 2025 £353,250 {£339,541 in 2023-24) was dlstrlbuted In grants. The cumulatlve total of grants dl4tributed slnce the Charlty was formed In 1977 has now reached £9,142,565. ACHIEVEMENTSANDPERFORMANCE Investment Pollcy The Foundatlon's investment priorlty Is to maintaln the real value of Its capltal investmentoverthe long term, but it also seeks sufficient income from Investments to allow an Increase In grants dlstributed whlch ot least matches wage Inflatlon measured overany flve-year period. Page 5 HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 ACHIEVEMENTSAND PERFORMANCE Performance The Charity's pollcy Is that ovÈrall expenditure each year should normally match the Income forecast for that year. rn 2024-25 Investment income recelved Increased by 5.OOWo (compared with a 2.480/0 Increase in 2023- 24). The value of Grants dlstributed in 2024-25 increase(J by 4.04% when compared wlth the previous year (It Increased by 17.20% In 2023-24). Income from the CBF Church of England Property and Investment Funds and trom Charifund all showed modest Increases during the perlod. Thevalueofourlnvestmentsoverthe perlod oftheseaccounts Increased byO.08% (In the comparableperiod In 2023-24 there was an Increase of 2.10%). The valuation of our Investments in the CBF Investment Fund fell whilst Charlfund perft)rmed relatively well. The CBF Property Fund stlll glves some cause for concern In that, although the valuatlons are now tracklng our other holdlngs, the Income has relurned a modest increase compared wlth no growth In the previous two years. Market volatlllty caused by the war In the Ukraine and the Incomlng Ti'ump Admlnlstration's economlc policles have affected all Investment's Income and Valuatlons Including our holdlngs In CBF Funds and Charifund. The Flnance Commlttee wlll contlnue to monitorthe situatlon closely. FINANCIAL REVIEW Prlnclpalfundlngsources The Foundatlon's Income derlves almost entlrely from endowed capital Inve.£ted wlth CBF Funds and Charlfund. CBF Is acommon Investmentfund managed byCCLA Investment ManagementLlmlted, and funds are Invested following the guldellnes of the Ethlcal Investment Advlsory Group. Charlfund, managed by M&G Investments. is an exempt unlt trust whlch Is a pooled fund forcharltbes. Charlfund excludes tobacco companles from Its portfollo. The FSnance Committee regularly monltors the performance of Investments and reports to the Foundatlon Councll. There has been no slgnlflcant change in Ihe allocatlon of funds durlng the year. The Foundatlon does not engage in any slgnlflcant fundralslng, though donatlons and legacles, malnly from former members of Hockerill College, are occasloiially received. Durlng the year we recelved donatlons In Memory of Mr Ray Slade (a former Trustee and Chairman of the Grants Commlttee) who passed away in early 2024, and the proceeds of the wlndlng-up of the Hockerlll College Assoclatlon (the membership organi5ation for former students of the Hockerill Primary Teacher Tralnlng College) whlch closed In late 2023. Both donations have been added to the Endowmentof the Foundatlon and now fonn part of our holdlng In Charlfund. Reserves pollcy These Investments have provlded a relatlvely stable Income, btst a reserve 15 held to ensure that the Foundatlon can (l) avold sudden reductions In grnnt expendlture should income fall, (2) respond promptlyto unforeseen requests tosupport causes whlch are ￿ntral to the Foundatlon's remlt. and (3) meet the costs of risks for whlch the Foundatlon self-insures. In the 2011-12 flnanclal year the Foundatlon undertook a revlew of Its Reserves Pollcy In the Ilght of tlie move from offerlng grants over a number of years to that of annual grants which can be renewed on further applicatlon In subsequent years. To this end It has adopted the following Reserves Pollcy: 'The Reserves Pollcy of the Foundation Is to hold at least £60,000 In reserves. As part of its ongoing stewardshlp The Flnance Committee revlews thls pollcy every year. The Trustees have set a budget for 2025-26 whlch is de51gned to achieve thls level of reserves going forward. In recent year5 a number of factors have arisen that affect the student envlronment In whlch the Hockerlll Educational Trust operates: l) A small but slgnificant number of Grants ère not taken up as the students concerned are unable to put togetherthe finance package required to meetthe total costof thelr course- and 2) Universities are maklng ever later offers of places in order to meet their tsrget enrolments resultlng In an Increasing number of late applicatiorss for grants. The advent of the Covld -19 pandemlc ha5 added an extra layer of complexity to this environment. Consequentlally all these factors have contrlbuted to the dlfficulty In reachlng our target reserve. The Finance Committee and the Grants Committee will continue to monltor thls sltuatlon closely. Page 6 HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 FUTURE PLANS As In prevlous years the Charily wlll continue to monitor and adapt its programme of grants for indlviduals to ensure Its funds are used to best effect. In 2024-25 we contlnued as a partner Sn the Masters Stholarshlp Scheme, run on behalf of the ACCT by the Culham St Gabrlels Trust. The scheme provldes grants to servlng RE Teachers and Teachlng Asslstants to help them Improve thelr qualifications to Masters Degree level via part tlme courses at selected Unlversitles. Thls scheme Is supported jolntly by members of the Accr and it shows our con)mltMent to supportlng the RE teacher post thelr Inltlal training. The Chadty also supports ecLJmenlcal schools worl< initlative5 by provldlng "seed corn" fundlng and In 2024-25 thls included the Bridge Bullders Chrlstlan Trust and the Cross Project. For the third year runnlng have provlded sponsorship for the Musllm-chrlstlan Summerschool run by the University of Oxford. It is deslgned to brlng togetherfuture leaders, teachers and scholars from both falth5 iri a Summer School envlronment. The Charity'5 webslte contlnues to prove to be a very useful asset In contacting prospectlve 9rantees and In providlng them wlth the13test Inforniation about the Foundatlon, its objectlves and the grant process. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charlty Is controlled by Its governlng document, a deed of twst, and constitutes an unlncorporated charlty. Hockerlll College, Blshop's Stortford, was founded In 1852 to traln women teachers who "would go to schools In the Serv1￿ of liumanlty.. The College was provlded by the Dlocese of Rochester and much ofthe money requlred was ralsed by subscrtptlon In Essex and Hertfordshlre, whlch were atthat tlme In that Dlocese. Over the followlng 125 years the provlsion of educaflon and attitudes towards It changed as both Church and state assumed an increaslng respon51bility for a natlonal network of primary schools, for tlie provlslon of secondary schools, and for the tralning of teachers. In 1976 It was declded that fewer teachers would be requI￿d for tralnlng, and the Secretary of State for Educatlon and Sclence dlrected 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 Educatlonal Foundation wa5 establlshed to perpetuate the name of the College and the Intentlon of its Founders. Page 7 HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Objectlves and aims The object of the Charity is the advancement of either hlgher or further educatlon or LTr)th In one or more of the following ways: (a) the promotlon of the educatlon and tralnlng of persons who are, or Intend to become, engaged as teachers or otheNise in work connected with rellgious educatlon; the promotlon of research in, and development of, religlous educatlon; the provlslon and conduct, or assistance In the provlslon and conduct of a chapel and chaplaSncy providlng for students, rellgious worshlp, Instructlon and care; the promotion of education by the provlslon of Instructlon, classes, lectures, books, Ilbrarles and reading rooms; rnaking grants to young persons in need of financlal asslstance to enable them to attend an establlshment of Iiigher or further educatlon or otherwlse to pursue their educatlon. and such other ways as the Trustees may from tlme to time determlne. (b) Ic) {d) (e) (f) n furtherlng the object speclfled above the Charlty shall: (a) act such a manner as wlll advance educatlon in accordance wllh the doctrlnes, rltes and practlces of the Church of England,. and have regard to the needs of persons undergolng tralnlng as teachers. (b) The Charlty currently meets these objectlves by maklng grants In the followlng areas: (al Grants to IndSvldual teachers and others In an educatlonal capaclty, elther tralning to leach or seeklng to develop thelr professlonal abllltles and quallflcations, partlcularly In Rellglous Education Grants to Indlvlduals taklng other h'rst degree or furthereducatlon courses, excludlng courses whlch lead dlrertly to careers other than teachlng. Tralnlng and 5UPPOrtforthe Church'seducatlonalwork In thed10￿$e$OfChelrnsrorO and St Albans Research, developmentand supportgrants to organlsatlons In the fleld of Rellglous Educatlon. (b) (cl (d) The Foundatlon regards grant-maklng as Its maln actlvlty and nom)ally does not dlrectly undertake other actlvltles. For its flrst 25 years, untll 2003, the Charfty also promoted an annual lecture on some aspect of educatlon, many of whlch have made a lastlng contrlbutlon to educatlonal debate, and coples are stiii avallablo from the charlty. In 2010 the Charlty worklng with NATRE (the Natlonal Assoclatlon of Teachers of Rellglous Educatlon Introduced the Hockerlll- NATRE Prize for Innovatlon In RETeachlng. Thls Annual Prlze was first awarded In the sprlng of 2011 In both the Prlmary and Secondary sectors (now dlscontlnued). The Charlty Is a member of the RE Councll of England and Wales, and thls reflects the 5UPPOrt It gSves to the RE communlty. The Trustees have referred to the guldance contalned In the Charity Commlsslon's general gUIdan￿ on public benefit when revSewlng Its alms and objectives and In plannlng Its future actlvitles. In partlcular, the Trustees conslders how planned actlvitles wlll contrlbute to the alms and objectlves they have set. Page 8 HOCKERXLL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governance and Management The Hockerill Educatlonal Foundatlon was endowed wlth the proceeds of the saleof the College and establlshed as a charity number 311018 under a scheme prepared by the Charlty Comml55ioners in 1977, and amended by the Charlty Commisslon on 19th Aprll 1988. It is managed by the Hockerill Educatlonal Company, a company Ilmlted by guarantee, Incorporated under a memorandum and artlcles of associatlon dated 29th July 1987, reglstered number 2151348. The Company is registered a5 a charlty number 297860. The Dlrectors of the Hockerlll Educatlonal Company are also members of the Hockerlll Foundatlon Councll. Four dlrector5ltrLEStees are ex offlclo, two each are appointed for a perlod of flve years by the Blshops of Chelmsford and St Albans, and four are appolnted for a period of four years by other bodle5 of the Dloce5es of Chelmsford and StAlbans. There Is provlslon for up to a further flve trustees to be co-opted. New trustees are normally experlenced trustee5 of other bodles; they recelve Inductlon in the work of the Foundatlon and are offered such further tralning as trustees as may be necessary. The Foundatlon Councll normally meets twlce a year to detemlne pollcy and strategyi and to monltor the finances and grant-maklng. In addltlon, the finance commlttee normally meets twlce a year to oversee the Foundatlon's investments, flnanclal management and audlt, and to make budget and other recommendatlons. The grants committee meets normally twlce a year to conslder and approve applicatlons for grants. Operatlonal and flnanclal management Is delegated wlth approprlate controls to the Secretary of the Foundatlon, who Is a part-time pald employee. At the start of the Covld 19 pandemlc all these meetlngs moved on-line. In 2024-2S, we contlnued the pollcy establlshed Sn 2023-24, of all meetlngs belng held vlrtually apart from the November Hockerlll Foundatlon Councll / Hockerlll Educatlonal Company meetlng whlch was held In person. The Foundation has Ilnk5 wlth the Dioceses of Chelmsford and St Albans, from whose areas theorlglnal fundlng or the college was drawn, and It Is a member of the Assoclatlon of Church College Trusts, a group of trusts wlth slmllar orlglns and charltable aims. The Councll has approved a Rlsk Management Pollcy for the charlty, seltlng out the rlsks to whlch the charlty Is exposed and the means by whlch the charity seeks to manage these rlsks. Thls Is revlewed annually by comparlng the exlsting pollcy wlth current gUIdan￿ offered by the Charlty Commlsslon. No changes were felt to be requlred thls year. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Chavlty number 311018 Prln¢lpal address 3 The Swallows Harlow Essex CM170AR Page 9 HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 Trustees Corporate Trustee: The Hockerlll Educatlonal Company Llmlted The following members of the Foundatlon Council, who are also the Trustees of the charlty, have held officeslnce l April 2024: Chalrman: The Venerable Janet Mackenzle, Archdeacon of Hertford Ex Officlo". The Rlght Reverend Dr Gull Francls-Dehqanl, Blshop of Chelmsford The Rlght Reverend Dr Alan Smlth, Blshop of St Albans Canon Davld Morton, DlrectorofEducation, Dlocese ofStAlbanstoJune 2024 Nrs Carrle Prlor, Dlrector of Educatlon. DI0￿se of Chelmsford Appolntad by: Blshop of St Albans Blshop of Chelmsford from November 2024 Diocesan Trustees: The Venerable Janet Mackenzie The Rl9ht Reverend Roger Morrls Nomlnatlve Trustees: The Venerablelohnathan Croucher Mrs Ruth Everelt Mrs Judy Klng Mr Davld Lodge Mrs Hannah Potter Nomlnated bv: Chelmsford Dlocesan Board of Flnance from May 2024 Chelmsford Dlocesan Board of Educatlon from May 2024 St Albans Diocesan Board of Educatlon st Alban5 Dlocesan Board of Education Bishop's Coundl of the DI0￿se of St Albans to May 2024 Co-opted Trustees: Mr Colin Blrd Mrs Anthea Kenn TIM Rouse from May 2024 Janet Scott Secretary: Mr Derekj Plumphrey 3The Swallows Harlow Essex CM17 OAR Telephone.. 01279 420855 Email: 1nfo@hockerlllfoundation.org.uk Web: www.hockerfllfoundatlon.org.uk Auditors Clemence Hoar Cummlngs Chartered Accountants and Statutory Auditor Riverslde House 1-5 Como Street Romford Essex RM7 7DN Sollcitors Lee Bolton Monier- Willlams l The Sanctuary Westmlnster London SWIP 3Ir Page 10 HOCKERILL EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 REFERENCE AND ADMINISTRATIVE DETAILS Investment Managers CCLAInvestment ManagementLlmlted One Angel Lane London EC4R 3AB M & G Securities Llmlted 10 Fenchurch Street London EC4M SAG Bankers Barclays Bank PLC Lelcester LE87 2BB STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are respon51ble for preparlng the Report of the Trustees and the flnanclal statements In accordance wlth appllcable law and Unlted Kingdom Accountlng Standards {Unlted Kingdom Generally Accepted Accountlng Practlce) Includlng Flnanclal Reportlng Standard 102'The Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland". The law appllcable to charltles In England and Wales, the Charltie5 Act 2011, Charlty (Accounts and Reports) Regulatlons 2008 and the provlslons of the trust deed requlres the trustees to prepare flnanclal statements for each flnanclal year whlch glve a true and falr vlew of the state of affalrs of the charlty and of the Incomlng resources and appllcation of resources, Includlng the Income and expendlture, of the charlty for that perlod. In preparlng those flnanclal statements, the trustees are requlred to select sultable accountlng pollcles and then apply them conslstently; observe the methods and prlnclples In the Charity SORP; makejudgements and estlmates that are reasonable and prudent; prepare the flnanclal statements on the golng concem basls unless It Is Inapproprlate to presume that the charlty wlll contlnue In bu51ness. The trustees are responslble for keeplng proper accountlng ￿CordS whlch dlsclose wlth reasonable accuracy at any tlme the financlal posltlon of the charlty and to enable them to ensure that the financlal statements comply wlth the Charitles Act 2011, the Charlty (Accounts and Reports) Regulatlons 2008 and the provlslons of the trust deed. They are also responslble for safeguarding the assets of the charlty and hence for tsklng reasonable steps for the preventlon and detectlon of fraud and other Irregularltles. Approved by order of the board of trustees on 6 tr4•4ts•¥( ?&Z?.......... and slgned on Its behalf by: ustee Page 11 REPORTOFTHE INDEPENDENT AUDITORSTOTHETRUSTEESOF HOCKERILL EDUCATIONAL FOUNDATION Opinion We have audited the flnanclal statements of Hockerill Educational Foundatlon (the'charity,) forthe yearended 31st Narch 2025 which comprise the Statement of Financial Actlvltles, the Balance Sheet and notes to the financial statements, Includlng a summary of significant accounting policies. The fillanclal reporting framework that has been applied In their preparation is appllcable law and United Klngdom Accountlng standard5 (United Kingdom Generally Accepted Accountlng Practice), includlng Financial Reporting Standard 102 'The Financlal Reporting Standard appllcable in the UK and Republic of Ireland,. In our opinion the flnanclal statements., glve a true and falr vlew of the state of the charity's affalrs as at 31st March 2025 and of Its Incomlng resources and application of resources, for the year then ended; have been properly prepared in accordance wSth United Kingdom Generally Accepted Accountlng Practlce, Includlng Finatbclal Reporting Stsndard 102 'The Flnanclal Reporting Standard appllcable In the UK and Republlc of Ireland, and have been prepared in accordance wlth the requlrements of the Charltles Act 2011. Basls for oplnion We conducted our audlt In accordance wlth International Standards on Audltlng (UK) {ISAs (UK)) and appllcable law. Our responslbilities under those standards a￿ further descrtbed In the Audltors, responslbllities for the audit of the flnanclal statements sectlon of our report. We are independentof the charlty In accordance wlth the ethlcal requlrements that are relevant to our audit of the flnanclal statements In the UK, Includlng the FRC'S Ethlcal Standard, and we have fulfilled our other ethlcal ￿sponsIbIlItIeS In accordance wlth these requlrements. We belleve Ihat the audlt evldence we have obtalned Is sufflclent and approprfjate to provlde a basls for ouroplnlon. Conclusions relatlng togolng Concern In audltlng the flnanclal stateinents, we have concluded that the trustees, use of the golng concern basi5 of accountlng In the preparation of the flnanclal statements is approprlate. Based on the work we have performed, we have not Identified any mèterlal uncertalntles relatlng to events or condltlons that, Indlvldually or collectlvelyj may cast signiflcant doubt on the charlty's ablllty to contlnue as a golng concern for a period of at least twelve months from when the flnanclal statements are authorlsed for15sue. Our responslbllltles and the responslbllltles of the tnjstees wlth ￿SpeCt to golng concern are de5erlbed In the relevant sectlons of thls report. other Information The trustees are responsible for the other Infomatlon. The other Infomatlon comprlses the informatlon Included In the Annual Report, otherthan the financlal statements and our Report of the IndependentAudltors thereon. Our oplnlon on the financl31 statements does not cover the other Informatlon and, except to the extent otherwlse explicltly stated In our report, we do not express any form of assuran￿ concluslon thereon. In connectlon wlth ouraudlt of the financial statements, our responslbllity15 to read the other Inforrnatlon and, In dolng so, conslder whether the other Informatlon Is materially Inconslstent with the flnanclBI statements or our knowledge obtained In the audit or otherwise appears to be materlally misstated. If we Identify such material inconslstencles or apparent material misstatemcnts, we are requlred to determlne whetherthls glves rlse to a material mlsststement in the flnanciaS statements themselves. If, based on the work we have performed, we conclude that there Is a material mlsstatement of thls other informatlon, we are requlred to report that fact. We have nothing to report In thls regard. Matters on whlch we are requlred to report by exception We have nothing to repoit in respect of the following matters where the Charltles {Accounts and Reports) Regulations 2008 requlres us to report to you If, In our opinion: the informatlon glven In the Report of the Trustee5 is inconslstent In any materlal respect wlth the flnanclal statements. or sufflclent accountlng records have not been kept,- or the financial Statements are not in agreement wlth the a(xountlng records and returns. or we have nol received all the informatlon and explanations we requlre for our audit. Page 12 REPORTOFTHE INDEPENDENT AUDJTORSTOTHETRUSTEESOF HOCKERILL EDUCATIONAL FOUNDATION Responslbilities of trustees As explalned more fully in the Statement of Trustees. Respon5ibilitles, the trustees are re5ponslble for the preparatlon of the financlal statements which give a true and fair vlew, and for svch Internal control as the trustees determine is necessary to enable the preparation of financial statements that are free frotn materlal mlsstatement, whether due to fraud or error. In preparlng the financlal statements. the trustees are responslble for assessing the charlty's ablllty to contlnue as a golng concern, disc105ing. as applicable, matters related to golng concern and uslng the golng concern basss of accounting unless the trustees either Intend to Ilquidate the charity or to cease operatlons, or have no reallstlc alternatlve bul to do so. Our responslbllltles for the audit of the flnanelal statements We have been appolnted as audlturs under Sectlon 144 of the Charltles Act 20118nd report In accordance wlth the Act and relevant regulatlons made or havlng effect thereunder. Our objectives are to obtain reasonable a55urance about whetherthe financial statements as a whole are free from materlal mlsstatement, whether due to fraud orerror, and to Issue a Report of the IndependentAudltors that Includes our oplnlon. Reasonable assurance Is a hlgh level of assurance, but 15 not a guarantee that an audlt conducted In accordance wlth ISAS {UK) wlll always detect a materlal mlsstatement when It exlst5. Misstatements can arise from fraud or error and are consldered materlal If, Indlvldually or In the aggregate, they could reasonably be expected to Influence the economlc declslons of users taken on the basls of these flnanclal statements. The extent to whlch our prO￿dureS are capable of detectlng Irregularltles, includlng fraud Is detailed below.. We have deslgned our work to ensure that laws and regulatlons have been adhered to, and the transactlons undertaken by the Charlty are properly reflected in the flnanclal statements. We have obtalned a detalled understandlng of the Charlty's Internal control systems and we have used the knowledge galned to Identlfy any areas of rlsk of mls-statement or fraud. We have then designed our audlt tests In each area to Identlfy whether In respect of the transactions we have selected for testlng the relevant controls have operated as expected. A further descrlptlon of our responslbllltles for the audlt ofthe flnancial statements Is located on the Flnanclal Reportlng Council'5 webslte at www.frc.org.uk/audltorsresponslbllltles. Thls descrlptlon forms part of our Report of the Independent Audltors. Use of our report Thls report is mède solely to the charlty's trustees, as a body, In accordance wlth Part 4 of the Charltles (Accounts and Reports) Regulatlons 2008. Ouravdlt work has been undertaken so that we mlght state to the charlty's trustees those matters we are requlred to state to them In an audltors, report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responslblllty to anyone other than the charlty and the charlty's twstees as a body, for our audlt work, for thls report, or for the oplnlons we have formed. Clemence Hoar Cummlngs Chartered Accountants and Statutory Audltor Rlverslde House 1-5 Como Street Romford Essex RM77DN Date: Page 13 HOCKERILL EDUCATIONAL FOUNDATION STATEMENT OF FINANCXAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 2025 Total funds 2024 Total funds Unrestritted Endowment funds nd Notes INCOME AND ENDOWMENTS FROM Charltable activities 55 2,012 2,067 55 Envestment Income 379,201 379,201 364,945 Total 379,256 2,012 381.268 365,000 EXPENDITURE ON Charltable actlvities Grant fundlng of actlvltks Support Costs 353,250 57,995 353,250 57,995 339,541 42,784 Total 411,245 411,245 382,325 Net galiis on Investments 4,798 31,461 36,259 164,594 T4ET INCOME/IEXPENDITURE) (27,191) 33,473 6,282 147,269 RECONCILIATION OF FUNDS Total funds brought forward 133,201 7,909,759 8,042,960 7,895,691 TOTAL FUNDS CARRIED FORWARD 106,010 7,943,232 8,049,242 8,042,960 The notes form part of these financial statements Pdge 14 HOCKERILL EDUCATIONAL FOUNDATION BALANCE SHEET 31ST MARCH 2025 2025 Total funds 2024 Total funds Unrestrlcted Endowment funds rund Notes FIXED ASSETS Investments 86,267 7,943,232 8,029,499 8,023,241 CURRENT ASSETS Cash at bank 24,850 24,850 22,991 CREDITORS Amounts falllng due wlthln one year (5,107) (5,107) (3,272) NET CURRENT ASSETS 19,743 19,743 19,719 TOTAL ASSETS LESS CURRENT LIABILITIES 106,010 7,943,232 8,049,242 8,042,960 NET ASSETS 106,010 7,943,232 8,049,242 8,042,960 FUNDS Uiirestrlcted funds Endowmentfunds io 106,010 7,943,232 133,201 7,909,759 TOTAL FUNDS 8,049,242 8,042,960 The flnanclal statements were approved by the Board of Trustees and authorlsed for Issue on 20£? ..and were slgned on Its behalf by: rustee The notes form part of these financlal statements Page 15 HOCKERILL EDUCATIONAL FOUNDATION NOTEsfoTHEFINANCIALSTATEMENTS FOR THE YEARENDED 31STMARCH 2025 ACCOUNTING POLICIES Bas15 of preparing the financlal statements The financlal statement5 of the d)arity, which is a public beneflt entlty under FRS 102, have been prepared In accordance wlth the Charities SORP {FRS 102) 'Accounting and Reportlng by Charitles: Statement of Recommended Practice èpplicable to charitles preparing thelr accounts In accordance wlth the Financial Reporting Standard appllcable In the UK and Republlc of Ireland (FRS 102) (elfectlve I January 2019),, Flnanclal Reportlng Standèrd 102 The Financlal Reporting Standard appllcable In the UK