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|The principal
address ofthe charity is 99Bancroft, Hitchin,|Hertfordshire,
SG5 INQ.||||||
|---|---|---|---|---|---|---|
|Organisational
structure|||||||
|The Foundation
has aBoard ofGovernors
made up ofnominative
Governors
who shall||be appointed||||by the following|
|bodies:|||||||
|~ The Hertfordshire
County Council|||||||
|~ The North Hertfordshire
District Council|||||||
|~ The Rands Educational
Foundation|||||||
|~ 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||||||
|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|||
|who are representative
ofthe community
and have an interest in the work ofthe Foundation.|||||||
|Governors'
induction
and training|||||||
|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|||||||
|Educational
Charity's
Scheme and copies ofthe last financial
statements
to enhance their understanding
oftheir statutory|||||||
|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||
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|||||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|
##
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##
|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|
##
##
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|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|
##
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|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|