2023-03-31-accounts - Hitchin Education Foundation

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			FORT	BEYEAR	ENDED 31STMA	RCH 2023
					Uarestricted	Restricted
					income	incense		2023	2022
				Note	fund	fund		Total	Total
								f	I
Income:
Inconie front cliaritablc activities:
Rent and msurancc premiums		reccivalilc			112,004			112&004	106,05/i
Service charges receivable					13,191			13,191	14,032
Investment income:
Dividend and interest distribution			income		5,874			5,874	5,322
Interest received					165			165	8
Other inconie:
Grants receivable					400			400	400
Total inconie					131,634			131,634	125,818
Expenditure				10.
Cost ofraising funds:
Cost ofcollecting rent and insurance Property expenses					7,117 81,853			7,117 81,853	6,083 41,510
Expenditure on charitable Charitable activities	activities:				84,724			84,724	70,962
Total expenditure					173,694			173,694	118,555
Net (losses)/income before	transfers				(42,060)			(42,060)	7,263
Transfers between funds					(15)		15
Nct income before recognised			(losses)/gains		(42,075)		15	(42&060)	7,263.
Other recognised (losses)/gains
(Losses)/gains on revaluation		ofinvestments			(8,187)		(15)	(8,202)	5,875
Net movement in funds for		the year			(50,262)			(50,262)	13,138
Reconciliation offunds
Total funds brought forward					404,913		651	405,564	392,425
Total funds carried forward				13.	354,651		651	355,302	405,563

		Unrestricted	Restricted
	Note	fund	fund	2023	2022
			8		f
Fired assets
Tangible assets		70,000		70,000	70,000
llivcstmeliis		107,4GS	167	107,635	l )5,837
Total fixed assets		177,468	167	177,635	185,837
Current assets
Debtors		85,514		85,514	41,656
Short term deposits		75,863		75,863	75,690
Cash at bank		98/65	484	98,849	186.617
Total current assets		259,742	484	260,226	303,963
Current liabilities
Creditors:
Amounts falling due within one year		(82,559)		(82,559)	(83,039)
Net current assets		177,183	484	177,667	220,924
Net assets		354,651	651	355302	406,761
Tbe funds ofthe charity:	13.
Unrestricted funds		354,651		354,651	404,912
Restricted funds			651	651	65i
		354,651	651	355,302	405,563

Com aratives for thc Statement	Com aratives for thc Statement	ofFinancial
			Uarestricted	Restricted
			income	income		2021
			fund	fund		Total
						f
lncomel
income from cbarital&le activities:
t(cllt slid insural&cc f)lcolluul&	fcccl&able		106,05G			106.056
Service charges receivable			14,032			14,032
Investment incon&e:
Dividend and interest distribution		income	5,322			5,327
Interest received			8			8
Other income:
Grants receivable			400			400
Totalincome			125,818			125,818
Expenditure
Cost ofraising funds:
Cost ofcollecting rent and insurance Property expenses			6,083 41,510			G,083 41,510
Expenditure on charitable Charitable activities	activities:		70,962			70,962
Total expenditure			118,555			118,555
Nct iucome before transfers			7,263			7,263
Transfers between funds			(9
Net incon&e before recognised		gains/(losses)	7,254			7,263
Other recogoised gains/(losses)
Gains/(losses) on revaluation	ofinvestments		5,884		(9)	5,875
Net movement in fuads for	the year		]3,138			13,138
Reconciliation offunds
Total funds brought forward			391,774		651	392,425
Total funds carried forward			404,912		651	405,563


7.	Debtors								2023	2022
	John Shilcock Ltd - Rent account,				net rents held				69,450	19,380
	John Shilcock Ltd - Service charge				account				3,139	4,335
	Rent in arrears								5,764	8,375
	insurance in arrears									705
	Service charges m arrears								31)0	2,000
	Rands Educational Foundation		donations			receivable			400	400
	Rent deposits held								6,346	6,346
	interest distributions receivable								115	115
									85,514	41,656
8.	Creditors								2023	2022
									f	f
	Section 23 grants approved but		unpaid						46,300	46.300
	Rents received in advance								21,549	21,938
	Accrual for rent collection fees								1,529	920
	Accrual for Clerk's honorarium								3,683	3,507
	Accrual for office expenses								600	600
	Accrual for legal and professional				fees					1,020
	Accrual for accountancy fees								2,352	2,190
	Accrual for repairs and maintenance				costs				200	218
	Rent deposits due to tenants								6346	6,346
									82,559	83,039
9.	Income						Unrestricted
							Income	Restricted	2023	2022
							Funds f	Funds f	Total	Totalf
	Rent and insurance premiums	receivable (see below)					112,004		112,004	10(),056
	Service charges receivable (see		below)				13,191		139191	14,032
	Dividend and interest distribution			income		(see below)	5,874		5,874	5,322
	interest received						165		165	8
	Grants receivable						400		400	400
							131,634		131,634	125,818
									2023	2022
									f	6
	Rent and insurance premiums			receivable
	Old School Block, 20 Bancroft		Hitchin						43,008	42,461
	20 and 21 Bancroft, Hitchin								68996	63,595
									112,004	106,056
	Service charges receivable
	20and 21 Bancroft, Hitchin								13,191	14,032
	laconic from investments
	Dividends from M&G Charifund								5,412	4,861
	Interest distributions from BLK		Charities UK Bond						461	461
	interest from Charities deposit	fund							1
									5,874	5,322

~E* Ch										2023	2022
Casts ofraising funds:
Cost oi collecting rent and			insurance		premiums					7,117	6,083
Property expenses:
Property msurance premiums				payable						9,481	8,003
Service char e costs										14,186	14,032
Gcnelul nlalnfeliancc										43,329	13,201
Legal and professional	fees									13,719	3,948
Cost ofutilities										1,138	2,326
										81,853	41,510
Expenditure on charitable				activities:
Grants approved under	s23		(see below)							46,300	46,800
Grants approved under	s24		(see below)							31,189	17,167
Trustees insurance premiums										505	554
Clerks honorarium										3,683	3,507
Office costs										695	744
Accountancy fees										2,352	2,190
										84,724	70,962
Grants approved under		section 23			(per above)
I-lertfordshire Educational			Foundation							300	300
North Herts Educational		Support Care								1,000	1,500
I-Iitchin Girls' School										15,000	15,000
Ilitchin Boys' School										15,000	15,000
The Priory School										15,000	15,000
										46,300	46,800
						Hitchi ~	Girls'	Hitchin	Boys'	The Priory
						School		School		School
						8		f
Balance brought forward		at		1st April	2022	15,000		151000		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 2023				15,000		15,000	15,000
										2023	2022
Grants approved under		section 24			(per above)						f,
Grants paid										31,189	17,167
										31,189	17,167