2022-03-31-accounts - Hitchin Education Foundation

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		FOR	THE YEA	R ENDED 31STMA	RCH 2022
				Unrestricted	Restricted
				income	income	2022	2021
			Note	fund	fund	Total	Total
				8		f
Income:
Iacome from charitable activities:
Rent and insurance premiums	receivable			106,056		106,056	98,363
Service charges receivable				14,032		14,032	9,810
Investmeat income:
Dividend and interest distribution		income		5/22		5@22	4,717
Interest received				8		8	35
Other income:
Grants receivable				400		400	600
Total iacome				125,818		125,818	113,525
Expenditure			10.
Cost ofraising funds:
Cost ofcollecting rent and insurance				6,083		6,083	5,824
Property expenses				41,510		41,510	43,795
Expenditure on charitable	activities:
Charitable activities				70,962		70,962	58,881
Total expenditure				118,555		118,555	108,500
Net income before transfers				7,263		7,263	5,025
Transfers between funds				(9)
Net income before recognised		gaias/(losses)		7,254	9	7,263	5,025
Other recognised gains/(losses)
Gains/(losses) on revaluation	ofinvestments			5,884	(9)	5,875	17,612
Net movemeat in funds for	the year			13,138		13,138	22,637
Reconciliatioa offuads
Total funds brought forward				391,774	651	392,425	369,788
Total fuads carried forward			12.	404,912	651	405,563	392,425

		Unrestricted	Restricted
	Note	fund	fund	2022	2021
Fixed assets
Tangible assets	4.	70,000		70,000	70,000
Investments	5.	115,656	181	115,837	109,962
Total fixed assets		1$5,656	181	185,837	179,962
Curreat assets
Debtors		41,656		41,656	33,047
Short term deposits		75,698		75,698	75,690
Cash at bank		184,941	470	185,411	186,617
Total current assets		302895	470	302,765	295,354
Current liabiTities
Creditors:
Amounts falling due within one year		($3,039)		(83,039)	(82,891)
Net current assets		219,256	470	219,726	212,463
Net assets		404,912	651	405,563	392,425
The funds ofthe charity:	12.
Unrestricted funds		404,912		404,912	391,774
Restricted funds			651	651	651
		404,912	651	405,563	392,425

Com aratives for the Statement ofFinancial Activities	Com aratives for the Statement ofFinancial Activities	Com aratives for the Statement ofFinancial Activities
			Unrestricted	Restricted
			income	income	2021
			fund	fundf	Total f.
Income:
Income from charitable activities:
Rent and insurance premiums	receivable		98,363		98,363
Service charges receivable			9,810		9,810
Investmeat iacomet
Dividend snd interest distribution		income	4,717		4,717
Interest received			35		35
Other iacome:
Grants receivable			600		600
Totalincome			113,525		113,525
Expenditure
Cost ofraising funds:
Cost ofcollecting rent and insurance			5,824		5,824
Property expenses			43,795		43,795
Expenditure oa charitable	activities:
Charitable activities			58,881		58,881
Total expenditure			108,500		108,500
Net income before transfers			5,025		5,025
Transfers between funds			(3)
Net iacome before recognised		(losses)	5,022		5,025
Other recognised (losses)
(Losses) on revaluation ofinvestments			17,615	(3)	17,612
Net movement in funds for	the	year	22,637		22,637
Reconciliation offunds
Total funds brought forward			369,137	651	369,788
Total funds carried forward			391,774	651	392,425

7.	Debtors								2022	2021
	Messrs John Shilcocks - Rent account, net					rents held			19380	18,124
	Messrs John Shilcocks - Service			charge account					4@35	3,652
	Rent in arrears								8375	3,125
	Insurance in arrears								705	585
	Service charges in arrears								2,000	300
	Rands Educational Foundation		donations			receivable			400	800
	Rent deposits held								6346	6,346
	Interest distributions receivable								115	115
									41,656	33,047
8.	Creditors								2022	2021
	Section 23 grants approved but		unpaid						46/00	46,100
	Rents received in advance								21,938	20,688
	Accrual for rent collection fees								920	904
	Accrual for Clerk's honorarium								3,507	5,745
	Accrual for office expenses								600	600
	Accrual for legal and professional			fees					1,020	420
	Accrual for accountancy fees								2,190	2,088
	Accrual for repairs and maintenance				costs				218
	Rent deposits due to tenants								6,346	6,346
									83,039	82,891
9.	Income						Unrestricted
							Iacome	Restricted	2022	2021
							Funds	Funds	Total	Total
								f	f
	Rent and insurance premiums	receivable (see below)					106)056		106,056	98,363
	Service charges receivable (see		below)				14,032		14,032	9,810
	Dividend and interest distribution			income		(see below)	5@22		5,322	4,717
	Interest received						8		8	35
	Grants receivable						400		400	600
							125,818		125,818	113,525
									2022f	2021f
	Rent and insurance premiums			receivable
	Old School Block, 20 Bancrott,			Hitchin					42,461	42,947
	20 and 21 Bancroft, Hitchin								63&595	55,416
									106,056	98,363
	Service charges receivable
	20 and 21 Bancrott, Hitchin								14,032	9,810
	Income from investments
	Dividends from MAG Charifund								4,861	4,180
	Interest distributions from BLK			Charities		UK Bond			461	537
									5/22	4,717

					FOR THE YEA	R ENDED	31STM	ARCH 2022
E~Ch									2022	2021
Costs ofraising funds:
Cost ofcollecting rent and			insurance		premiums				6,083	5,824
Property expenses:
Property insurance premiums				payable					8,003	7,559
Service charge costs									14,032	9,810
General maintenance									13,201	11,710
Legal and professional	fees								3,948	12,789
Cost ofutilities									2326	1,927
									41,510	43,795
Expenditure on charitable				activities:
Grants approved under	s23		(see below)						46,800	45,800
Grants approved under	s24 (see below)								17,167	10,234
Refunds received under	s24			(see below)						(4,720)
Trustees insurance premiums									554	489
Clerks honorarium									3,507	4,376
Office costs									744	494
Accountancy fees									2,190	2,208
									70,962	58,881
Grants approved under		section 23			(per above)
Hertfordshire Educational			Foundation						300	300
North Herts Educational		Support Care							1,500	500
Hitchin Girls' School									15,000	15,000
Hitchin Boys' School									15,000	15,000
The Priory School									15,000	15,000
									46,800	45,800
						Hitchin	Girls'	Hitchia Boys'	The Priory
						Scbool		School	School
						f
Balance brought forward		at		1st April	2021		15,000	15,000	15,000
Grants approved 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 2022				15,000	15,000	15,000
									2022	2021
Grants approved under section 24 Grants paid Grant refunds received under s24					(per above)				17,167	10,234 ~4.720
									17,167	5,514