| The principal address ofthe charity is 99Bancroft, Hitchin, |
Hertfordshire, SG5 INQ. |
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|---|---|---|---|---|---|---|
| Organisational structure |
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| The Foundation has aBoard ofGovernors made up ofnominative Governors who shall |
be appointed | by the following | ||||
| bodies: | ||||||
| ~ The Hertfordshire County Council |
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| ~ The North Hertfordshire District Council |
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| ~ The Rands Educational Foundation |
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| ~ Exofficio governors who shall be the Vicar ofthe Ecclesiastical Parish ofSt.Mary's |
Hitchin | and | the chairman ofthe | |||
| governing body ofeach ofthe three secondary schools in |
Hitchin (or alternatives) | |||||
| At present there are 18Governors that meet 3or 4 times per | annum and are responsible |
for | the | objectives and activities of | ||
| the Foundation. | ||||||
| The Governors are from avariety ofbackgrounds representing the educational and wider |
community, | all ofwhom contribute | ||||
| to the working ofthe Foundation. | ||||||
| The Governors are supported by: |
||||||
| -Professional property advisers who are responsible for the |
collection ofrents, insurance | contributions | and service charges | |||
| from the tenants and monitoring and reporting on necessary |
repairs to the freehold investment properties controlled by the |
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| Foundation. | ||||||
| -A clerk who is responsible for all the administration necessary to ensure all aspects ofthe |
Foundation | continue to function. | ||||
| Recruitment and appointment ofgovernors |
||||||
| The Governors seek to ensure that the necessary skills and experience are sustained in recruiting |
new | Governors. | ||||
| New Governors are appointed through the various bodies listed other than the ex officio |
governors. | When vacancies occur, | ||||
| the existing Governors are in aposition to make recommendations to the nominative bodies |
on | the appointment ofgovernors |
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| who are representative ofthe community and have an interest in the work ofthe Foundation. |
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| Governors' induction and training |
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| All Governors are familiar with the work ofthe Foundation |
and are encouraged to be involved |
in the | activities on aregular | |||
| basis. New Governors receive briefings ofthe Foundation's |
achievements, its future plans |
and | their | responsibilities. | ||
| All existing Governors and proposed Governors are kept advised on regulations from the Charity Commission, copy ofthe |
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| Educational Charity's Scheme and copies ofthe last financial statements to enhance their understanding oftheir statutory |
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| responsibilities. | ||||||
| Plans for future periods | ||||||
| ~ A strategy to maximise the use ofthe site at 20/21 Bancroii, Hitchin | ||||||
| ~ The continue to support the three secondary schools in Hitchin and other beneficiaries |
in line with | the objectives of | ||||
| the Foundation | ||||||
| During the financial year, the Foundation has had to adapt to the Covid-19 pandemic. The |
Governors | do not believe the | ||||
| pandemic creates any going concern issues although there is |
an expectation that the Foundation's income may reduce slightly |
|||||
| for the year ended 31stMarch 2022. Ifschools continue to | stay open during the pandemic, | the | Governors expect Section 24 |
|||
| grants to increase back closer to pre pandemic levels for the |
year ended 31stMarch 2022. | The | Governors and Clerk are |
|||
| keeping the situation under review. |
| Hertfordshire | County | County | Council nominated governors: |
||
|---|---|---|---|---|---|
| Mr Derrick Ashley (Chair) | |||||
| Mrs Judi Billing | |||||
| Mr Bernard Lovewell | |||||
| Mr Ray Shakespeare-Smith | (Vice-Chair) | ||||
| Mrs Jane Shipley | |||||
| North Hertfordshire | District Council nominated governors: |
||||
| Mr Paul Clark | |||||
| Prof Simon Harwood | |||||
| Cllr Martin Stears-Handscomb | (Retired 29-Jun-21) | ||||
| Mrs Claire Strong | |||||
| Cllr Kay Tart | |||||
| Cllr Ian Albert (Appointed | 29-Jun-21) | ||||
| Rands Educational | Foundation nominated governor: |
||||
| Mr Ben Hurworth | |||||
| ExOfficio Governors: | |||||
| Rev Chris Bunce | |||||
| Dr Helen Corkill | |||||
| Mr Chris Hall | |||||
| Mr Richard Hewgill (Retired 20-Sep-21) | |||||
| Mr David McIntosh (Appointed | 20-Sep-21) | ||||
| Head Teachers - who | attend in an advisory capacity: |
||||
| Mr Geraint Edwards - The | Priory School | ||||
| Mrs Frances Manning - Hitchin | Girls' School | ||||
| Mr Fergal Moane - Hitchin | Boys' School |
| HITCHIN | EDUCATION FOUNDATION | EDUCATION FOUNDATION | ||||||
|---|---|---|---|---|---|---|---|---|
| STATEMENT OFFINANCIAL ACTIVITIES | ||||||||
| (Incorporating | an Income and Expenditure | Account) | ||||||
| FORTHE YEAR ENDED 31STMARCH 2021 | ||||||||
| Unrestricted Restricted |
||||||||
| income | income | 2021 | 2020 | |||||
| Note | fund | fund | Total | Total | ||||
| Income: | ||||||||
| Income from charitable | activities: | |||||||
| Rent and insurance | receivable | 98,363 | 98,363 | 105,499 | ||||
| Service charges receivable | 9,810 | 9,810 | 11,270 | |||||
| Investment Income: |
||||||||
| Dividend income |
4,717 | 4,717 | 6,513 | |||||
| Interest received | 35 | 35 | 147 | |||||
| Other Income: | ||||||||
| Grants receivable | 600 | 600 | 300 | |||||
| Total income | 113,525 | 113,525 | 123,729 | |||||
| Expenditure | 10. | |||||||
| Cost ofraising funds: | ||||||||
| Cost ofcollecting rent and insurance | 5,824 | 5,824 | 6,349 | |||||
| Property expenses | 43,795 | 43,795 | 38,680 | |||||
| Expenditure on charitable |
activities: | |||||||
| Charitable activities |
58,881 | 58,881 | 68,063 | |||||
| Total expenditure | 108,500 | 108,500 | 113,092 | |||||
| Net income before | transfers | 5,025 | 5,025 | 10,637 | ||||
| Transfers between |
funds | (3) | ||||||
| Net income before | recognised | gains/(losses) | 5,022 | 5,025 | 10,637 | |||
| Other recognised gains/(losses) |
||||||||
| Gains/(losses) on revaluation |
ofinvestments | 17,615 | (3 | 17,612 | 22,163 | |||
| Net movement in funds for |
the | year | 22,637 | 22,637 | (11,526) | |||
| Reconciliation offunds |
||||||||
| Total funds brought | forward | 369,137 | 651 | 369,788 | 1,161,314 | |||
| Reverse previous years' revaluations of |
||||||||
| freehold land and buildings | (780,000) | |||||||
| Total funds carried | forward | 12. | 391,774 | 651 | 392,425 | 369,788 |
| Unrestricted | Restricted | ||||||
|---|---|---|---|---|---|---|---|
| Note | fund | fund | 2021 | 2020 | |||
| Fixed assets | |||||||
| Tangible assets | 4. | 70,000 | 70,000 | 70,000 | |||
| Investments | 5. | 109,772 | 190 | 109,962 | 92,350 | ||
| Total fixed assets | 179,772 | 190 | 179,962 | 162,350 | |||
| Current assets | |||||||
| Debtors | 33,047 | 33,047 | 32,594 | ||||
| Short term deposits | 75,690 | 75,690 | 75,656 | ||||
| Cash at bank | 186,156 | 461 | 186,617 | 180,955 | |||
| Total current assets | 294,893 | 461 | 295,354 | 289,205 | |||
| Current Liabilities | |||||||
| Creditors: | |||||||
| Amounts falling due within one |
year | 82,891 | 82,891 | 81,767 | |||
| Net current assets | 212,002 | 461 | 212,463 | 207,438 | |||
| Net assets | 391,774 | 651 | 392,425 | 369,788 | |||
| The funds ofthe | charity: | 12. | |||||
| Unrestricted funds |
391,774 | 391,774 | 369,137 | ||||
| Unrestricted funds |
- revaluation | reserve | |||||
| Total unrestricted | funds | 391,774 | 391,774 | 369,137 | |||
| Restricted funds | 651 | 651 | 651 | ||||
| 391,774 | 651 | 392,425 | 369,788 |
| Cost or valuation | as at: | ||
|---|---|---|---|
| 1stApril 2020 and | at 31stMarch 2021 | 70,000 | |
| Cost orvaluation | as at: | ||
| 31stMarch 2019 | 850,000 | ||
| Reverse previous | years' revaluations | 780,000 | |
| 31stMarch 2020 | 70,000 |
| Fixed Asset Investments | Fixed Asset Investments | At Market | At Market | |
|---|---|---|---|---|
| Value | Value | |||
| 2021 | 2020 | |||
| Balance brought | forward | 92,350 | 114,513 | |
| Gains/(losses) on |
revaluation ofinvestments | 17,612 | (22,163 | |
| Balance carried forward | 109,962 | 92,350 | ||
| Investments consist ofthe |
following: | |||
| Quoted investments | ||||
| 7,677.50 | Units BLKCharities UK Bond | 14,372 | 14,710 | |
| 6,481.00 | Units M&G Charifund | 95,400 | 77,448 | |
| 58.66 | Units BLKCharities UK Bond | 110 | 112 | |
| Other investments | ||||
| Charities deposit | fund | 80 | 80 | |
| 109,962 | 92,350 | |||
| Historical Cost at 31stMarch | 23,145 | 23,145 |
| Com aratives for the State |
me | nt ofFinancial Activities | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| income | income | 2020 | |||
| fund | fund | Total | |||
| Income: | |||||
| Income from charitable activities: |
|||||
| Rent and insurance receivable |
105,499 | 105,499 | |||
| Service charges receivable | 11,270 | 11,270 | |||
| Investment Income: |
|||||
| Dividend income |
6,513 | 6,513 | |||
| Interest received | 147 | 147 | |||
| Other Income: | |||||
| Grants receivable | 300 | 300 | |||
| Total income | 123,729 | 123,729 | |||
| Expenditure | |||||
| Cost ofraising funds: | |||||
| Costofcollecting rent and insurance | 6,349 | 6,349 | |||
| Property expenses | 38,680 | 38,680 | |||
| Expenditure on charitable |
activities: | ||||
| Charitable activities |
68,063 | 68,063 | |||
| Total expenditure | 113,092 | 113,092 | |||
| Net income before transfers | 10,637 | 10,637 | |||
| Transfers between funds |
|||||
| Net income before recognised | (losses) | 10,637 | 10,637 | ||
| Other recognised (losses) |
|||||
| (Losses) on revaluation ofinvestments | (22,163) | (22,163 | |||
| Net movement in funds for |
the year | (11,526) | (11,526) | ||
| Reconciliation offunds | |||||
| Total funds brought forward |
1,160,663 | 651 | 1,161,314 | ||
| Reverse previous years' revaluations of |
|||||
| freehold land and buildings |
(780,000) | (780,000) | |||
| Total funds carried forward | 369,137 | 651 | 369,788 |
| 7. | Debtors | 2021 | 2020 | |||
|---|---|---|---|---|---|---|
| Messrs John Shilcocks | - Rent account, net rents held | 18,124 | 18,896 | |||
| Messrs John Shilcocks | - Service charge account | 3,652 | 4,772 | |||
| Rent in arrears | 3,125 | |||||
| Insurance in arrears |
585 | 186 | ||||
| Service charge in arreas | 300 | |||||
| Rands Educational Foundation |
800 | 200 | ||||
| Insurance prepaid |
2,040 | |||||
| Rent deposits held | 6,346 | 6,346 | ||||
| Interest receivable | 115 | 154 | ||||
| 33,047 | 32,594 | |||||
| 8. | Creditors | 2021 | 2020 | |||
| Insurance received in advance |
1,857 | |||||
| Rents received in advance | 20,688 | 15,812 | ||||
| Accountancy fees |
2,088 | 1,920 | ||||
| Rent collection fees | 904 | 1,001 | ||||
| Section 23 payments | 46,100 | 45,800 | ||||
| Clerk's honorarium | 5,745 | 7,581 | ||||
| Office expenses | 600 | 1,450 | ||||
| Rent deposits due to tenants | 6,346 | 6,346 | ||||
| Legal and professional | fees | 420 | ||||
| 82,891 | 81,767 | |||||
| 9. | Income | Unrestricted | ||||
| Income | Restricted | 2021 | 2020 | |||
| Funds | Funds | Total | Total | |||
| Rent and insurance receivable (see below) |
98,363 | 98,363 | 105,499 | |||
| Service charges receivable (see below) | 9,810 | 9,810 | 11,270 | |||
| Dividend income (see below) |
4,717 | 4,717 | 6,513 | |||
| Interest received | 35 | 35 | 147 | |||
| Grants receivable | 600 | 600 | 300 | |||
| 113,525 | 113,525 | 123,729 | ||||
| 2021 | 2020 | |||||
| Rent and insurance receivable |
||||||
| Old School Block, 20Bancroft, Hitchin | 42,150 | 42,012 | ||||
| 20 and 21 Bancroft, Hitchin | 56,370 | 63,487 | ||||
| 98,520 | 105,499 | |||||
| Service charges receivable | ||||||
| 20 and 21 Bancroft, Hitchin | 9,810 | 11,270 | ||||
| Income from Investments | ||||||
| Dividends from M&G |
Charifund | 4,180 | 5,412 | |||
| Dividends from BLKCharities UK Bond |
537 | 1,101 | ||||
| 4,717 | 6,513 |
| ~E» enditure | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|
| Costs ofraising funds: | ||||||
| Cost ofcollecting rent and | insurance | 5,824 | 6,349 | |||
| Property expenses: | ||||||
| Service charge costs | 9,810 | 11,270 | ||||
| General maintenance | 11,710 | 2,837 | ||||
| Unpaid rent receivable written off | 1,781 | |||||
| Legal and professional | 12,789 | 14,534 | ||||
| Property insurance |
7,559 | 6,789 | ||||
| Utilities | 1,927 | 1,469 | ||||
| 43,795 | 38,680 | |||||
| Expenditure on charitable |
activities: | |||||
| Payments under s23 |
45,800 | 45,500 | ||||
| Payments under s24 |
10,234 | 17,383 | ||||
| Refunds received under s24 | (4,720) | |||||
| Trustees insurance | 489 | 489 | ||||
| Clerks honorarium | 4,376 | 2,771 | ||||
| Office costs | 494 | |||||
| Accountancy fees |
2,208 | 1,920 | ||||
| 58,881 | 68,063 | |||||
| Payments under section |
23 | |||||
| Hertfordshire Educational |
Foundation | 300 | ||||
| North Herts Educational | Support Care | 500 | 500 | |||
| Hitchin Girls' School | 15,000 | 15,000 | ||||
| Hitchin Boys' School | 15,000 | 15,000 | ||||
| The Priory School | 15,000 | 15,000 | ||||
| 45,800 | 45,500 | |||||
| Hitchin Girls' | Hitchin Boys' | The Priory | ||||
| School | School | School | ||||
| Balance brought forward |
at 1stApril 2020 | 15,000 | 15,000 | 15,000 | ||
| Allocated for the year | 10,000 | 10,000 | 10,000 | |||
| Special grants - Support | for pupil pastoral/counselling | 5,000 | 5,000 | 5,000 | ||
| 30,000 | 30,000 | 30,000 | ||||
| Less: Grants paid in the year | 15,000 | 15,000 | 15,000 | |||
| Balance carried forward | at | 31stMarch 21 | 15,000 | 15,000 | 15,000 | |
| Payments under section |
24 | 2021 | 2020 | |||
| Grants paid | 10,234 | 17,383 | ||||
| Refunds received under s24 | 4,720) | |||||
| 5,514 | 17,383 |
| Anal sis ofM |
ovem | ent in |
Funds | |||||
|---|---|---|---|---|---|---|---|---|
| Balances | Transfer | Balances | ||||||
| 1stApril | Investment | between | 31stMarch | |||||
| 2020 | Incoming | Expenditure | gains/(losses) | funds | 2021 | |||
| Unrestricted | Funds: | |||||||
| General | 365,003 | 103,715 | (98,690) | 17,615 | (3) | 387,640 | ||
| Designated | 4,134 | 9,810 | (9,810 | 4,134 | ||||
| 369,137 | 113,525 | (108,500) | 17,615 | (3) | 391,774 | |||
| Restricted Funds: | ||||||||
| C.J. Widdows' | Fund | 476 | (3) | 476 | ||||
| Dawson Memorial | Fund | 175 | 175 | |||||
| 651 | 651 | |||||||
| Total Funds | 369,788 | 113,525 | 108,500 | 17,612 | 392,425 | |||
| Balances | Property | Balances | ||||||
| 1stApril | Investment | value | 31stMarch | |||||
| 2019 | Incoming | Expenditure | gains/(losses) | adjustment | 2020 | |||
| Unrestricted | Funds: | |||||||
| General | 1,156,529 | 112,459 | (101,822) | (22,163) | (780,000) | 365,003 | ||
| Designated | 4,134 | 11,270 | (11,270) | 4,134 | ||||
| 1,160,663 | 123,729 | 113,092) | (22,163 | (780,000) | 369,137 | |||
| Restricted Funds: | ||||||||
| C.J.Widdows' | Fund | 476 | 476 | |||||
| Dawson Memorial | Fund | 175 | 175 | |||||
| 651 | 651 | |||||||
| Total Funds | 1,161,314 | 123,729 | (113,092) | 22,163 | (780,000) | 369,788 |
| Anal sis ofA |
ssets | and Li | abilities to Fun | ds | ||||
|---|---|---|---|---|---|---|---|---|
| Net assets | ||||||||
| Fixed | assets: | Current | Current | 31stMarch | ||||
| Properties | Investment | Bank | assets | liabilities | 2021 | |||
| Unrestricted | Funds: | |||||||
| General | 70,000 | 109,772 | 257,712 | 33,047 | (82,891) | 387,640 | ||
| Designated | 4,134 | 4,134 | ||||||
| Restricted Funds: | ||||||||
| C.J.Widdows' | Fund | 110 | 366 | 476 | ||||
| Dawson Memorial | Fund | 80 | 95 | 175 | ||||
| 70,000 | 109,962 | 262,307 | 33,047 | 82,891 | 392,425 | |||
| Net assets | ||||||||
| Fixed | assets: | Current | Current | 31stMarch | ||||
| Properties | Investment | Bank | assets | liabilities | 2020 | |||
| Unrestricted | Funds: | |||||||
| General | 70,000 | 92,158 | 252,018 | 32,594 | (81,767) | 365,003 | ||
| Designated | 4,134 | 4,134 | ||||||
| Restricted Funds: | ||||||||
| C.J.Widdows' | Fund | 112 | 364 | 476 | ||||
| Dawson Memorial | Fund | 80 | 95 | 175 | ||||
| 70,000 | 92,350 | 256,611 | 32,594 | (81,767 | 369,788 |