REGISTERED CHARfTY NUMBER: 311024
HITCHIN EDUCATION FOUNDATION
TRUSTEES REPORT AND ACCOUNTS
FOR THE YEAR ENDED JIST MARCH 2024

HITCHIN EDUCATION FOUNDATION
INDEX TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
CONTENTS
Page
Legal and Administrative Inforn]alion
Governors, report
Independent Examiner's Report
Statement of Financial Actlvilies
Balance Shee(
I￿10
Notes lo the financial statemen¢5

HITCHIN EDUCA TION FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024
Charkty name:
Hitchin Education Foundation
Charity registration number:
311024
Charity address:
Shilcock House
99 Bancroft
Hiichin, SG5 INQ
Governors..
Hertfordshirc County Council nominated governors..
Mr Detrick Ashley (Chair)
Mr Ray Shake8peare-Smith (Vice-chair)
Mr Bernard Lovewell
Mrs Jane Shipley
Mrs Lara Freeman (Appointed 26-Mar-24)
North Hertfordshire District Council nominated governors..
Prof Simon Harwood (Resigned 31-Mar-24)
Cllr Claire Sirong
Cllr Kay Tart (Resigned 31-M&r-24)
Cllr Ian Albert
Cllr Keith Hoskins (Appointed I l-Jul-22)
Cllr Donna Wright (Appointed 01-Apr-24)
Cllr Daniel Wright-mason (Appointed 01-Apr-24)
Rands Educational Foundation nominated governor..
Mr Ben Hurworth
Ex Officio GoveTnors'.
Rev Chris Bunce
Dr Helen Corkill
Mrs Nesta Job
Mr David McInlosh
Advisory:
Head Teachers - who atiend in an advisory capa¢iry',
Mr Geraint Edwards - The Priory School
Mr James Crowther - Hiichin Girls, School
Mr Fergal Moane - Hitchin Boys. School (Resigned 31-Aug-23)
Mr Tim Bennett- Hitchin Boys, School (Appointed 01-Jan-24)
Clerk lo the governors..
Mr M Scarnan-Hill
(As provided by John Shilcock Ltd)
Independent examiner:
Philip Dean FCA
Hicks and Company
Chartered Accountants
Firsi Floor, 99 Bancroft
Hitchin. SG5 INQ
Bankers..
Ba￿layS Bank PLC
P.0. Box I
516 High Street
Hilchin, SG5 IBH
Page I

HITCHtN EDUCATION FOUNDATION
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31ST MARCH 2024
The Governors present their annual report with the financial statements of the charity for the year ended 3 1st March 2024.
The Govertiors have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounis in accordance with the Financial Reporting Standard applicable in the UK and
Republic of ￿eland (FRS102) (effecuve 1st January 2019).
Objectlves and Actlvltles
Objectives and aillL8
The Foundation is managed by Governors supported by a clerk and professional properly &dvisors, with the principal
objective of raising fund5 from its investments and granting financial assistance lo the three secondary schools in Hilchin
and the provision of unifonns and educational facilitie5 for the defined beneficiaries.
Public benefit
The Governors have paid due regard to the Charity Conunissions Public Benefit Guidance and compiled with section 17{51
of the Charities Act 201 l in exercising their powers and duties, and have sought to demonstrale Ihat the charity continues to
provide benefits lo suitable persons who relate directly to itl> objectives. The benefitt+ are available lo all who qualify. All
applicaliont> are subject to due process and considerdtion wiihout discrimination.
Achievements and Perfornwiee
Charitable activlties
Undcr section 23 of the Scheme of Governance the Foundation maintained ils annual commitment 10 the three secondary
schools in Hitchin and continued with a special grant to each school for pastoral and coun5elling.
The Foundation continued to provide grants lo other bencficiarics urbder 5cclion 24 of the Scheme of Governance.
Financlal Revlew
Flnanclgl posltlon
The financial results for the yev as shown on page5 8 and 9 reflect:
An increase in rental and insurance incorne
A decrease in service charges receivable from tenants at 21 Bancroft, to be used for cosis in maintaining the common
parts of 21 Bancroft
An increase in investment incorne
A large decrease in property expenses
A small decrease in expenditure on charitable activities
This resulted in a nei decrease in unre5tricled funds of £5,090 before any re¢ognised gains or losses on revaluation of
investments {2023.. £42,060).
Principle sources of income
The major sources of income are..
Rental income from the tenants who occupy the building5 under the control of the Governors
Service charge income from specitic tenants who use the common parls of 21 Bancroft
Investment income
The financial results on pages 8 and 9 refl￿1.
An increase in rental and insurance Income receivable of £3,655 from £112,W4 in 2023 to £115.659 in 2024
A decrease in service charges receivable of £1,036 from £13.191 in 2023 to £12,155 in 2024
An increase in invc5tmcnt income receivable of £163 from £5,874 in 2023 to £6,037 in 2024
Page 2

HITCHllY EDUCATION FOUNDATION
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31ST MARCH 2024
Principle items of expenditure
The governors continue to monitor and control costs.
The major areas of expenditure during the year were..
Servlce charge costs relating to common parts of £13,964 {2023.. £14.186)
General maintenance costs of £16,805 (2023: £43.329)
Legal and professional fees of £12.489 (2023.. £13.719)
Section 23 grants to the three Hitchin Schools were £45,(M)0 (2023: £45,000)
Section 24 grants of £27,932 (2023.. £31,189)
Each request for grants is reviewed individually and grants are made on the basi5 of worthine55 and funds availabl¢ and not
on the level of previous years, grants.
Flxed ￿t5
The freehold land and buildings controlled by the Foundation comprising Old School Block, 20 Bancroft, Hitchin and 20121.
Bancroft, Hilchln were professionally valued on 31 st March 2007 by Messrs. John Shilcock, Chartered Surveyors, al £850.IJJO.
To avoid professional feeb for revaluing the Foundation's land &nd buildings, in the year ended 31&1 March 2020 the Governors
took the decision 10 revetse all previous years, ￿ValUa[10nS and restore the carrying value to an approximation of cost.
The dilapidations work at the Old SchTr)l Block was certified as pra¢ii¢al Complete on 14th S¢ptember 2020. The work,
valued at approximately £200.000, wa5 been paid for by HertfoTdshire County Council under Ihe iern15 of the old lease.
During the year ended 31 st March 2024 Hertfordshire County Council surrendered Ihe old lease and a new leatie watri signed
between the Foundation and Hitchin Boys, School.
Investnwnt policy
Consideration is given to the requirement lo provide grants as requested. Therefore h&ving considered the options available
the Governors have decided ¢0 relain excess funds in common commercial investment funds that are fairly easily accessible.
Reserves pollcy
The policies adopted by the Governors are such that invested monies are carefully managed wilh a low risk atiitude. to ensure
sufficient funds from the inveslmenls and the property portfolio are available to rneet (he main objecis of Ihe Foundation
and the direct expenditure costs of the Foundation.
The Foundation's policy of regular Governors, Meetings means that all aspects of running the Foundation are fully reviewed
and monitored. The regular Governors, Meetings ensure th&1 all applications for Section 23 and 24 payments are fully
reviewed and that the objects of the Foundation are being adhered to.
The resources of the Foundation are moniiored between restricted and unrestricted funds. The unrestricted resources of the
Foundation which it has freely available for its charithble purpose once li has met lis commitments and covered 11$ other
planned expenditure. are budgeted annually based upon previous experience. The present level of necessary resources is in
the region of £ I10,(KHI bul this is consi5tenily kepl under review. Should the chariiable needs be greater than originally
budgeted, arrangements can be made to ensure funds ale available to meet such needs.
The Foundation continues to ensure that the three Secondary Schools in Hitchin are aware of 115 existence through the presencc
of the Head Teachers. There is also regular communication with other schools where other potential student beneficiaries
attend.
The present portfolio is considered sufficieni to maintain ihe present level of resources required.
Risk management
The Governors continue to assess and monitor the major risks to which the Foundation is exposed, in partieular in relation to
operations and finance.
Page 3

HITCHIN EDUCATION FOUNDATIO
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31ST MARCH 2024
Structure, Governance and Management
Governing document
Hitchin Education Foundalion is governed by a Scheme drawn up by the Charity Conllnission Icharity number 311024).
sealed on 5th March 1976 and is administered by the Governors.
The principal address of the charity is 99 Bancroft. Hitchin. Hertfordshire, SG5 INQ.
Organisational structure
The Foundation has a Board of Governors made up of nominative Governors who shall be appoinled by the following
bodies:
The Hertford5hire County Council
The Norih Hertford.8hire District Council
The Rands Education81 Foundation
Ex officio governorb who sh311 be the Vicar of the Ecelesiastical Parish of Si. Mary's Hitchin and the chairnian of the
governing body of each of the three secondary schijols in Hitchin (or al*rnalives)
Ai present there are 18 Governors that meet 3 or 4 times per annum and are responsible for the objectives and aclivities of
IhL Foundation.
ThL Governors are from a variety of background5 representing the educational and wider community, all of whom contribute
lo the working of the Foundation.
The Governors are t>UPPOrted by..
Professional property advisers who arc responsible for Ihc collection of rents. insurunee conlributions and service charges
from the tenants and monitoring and reporting on necessary repair5 to the freehold investment properlics controlled by the
Foundation.
A clerk who is responsible for all the admini5tralion necessary to cnsure all uspecls of the Foundation conlinue to function.
Recrufitment and appointment of governors
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 a position to make recommendations to the nominative bodies on the appointment of governors
who are representarive of the community and have an interest in the work of the Foundation.
Governors, Induction and training
All Governors are familiar with the work of the Foundation and are encouraged to be Involved in the aclivilles on a regular
basis. New Governors receive briefings of the Foundation's a¢hievemenLS, its future plans and their responsibilities.
All existing Governors and proposed Governors are kept advised on regulaiions from the Charity Commission, copy of the
Educational Chariiy's Scheme and copies ot the lasi financial slatemenis io enhance their understanding of their slatulory
responsibilitie5.
Plans for future periods
A strategy lo maximise the use of the site al 20121 Bancrofi, Hilchin
The continue lo support the three secondary schools in Hitchin and other beneficiaries in line with the objectives of
the Foundation
Page 4

HITCHIN EDUCATION FOUNDATION
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED JIST MARCH 2024
Governors
The Governors who served during the year and the changes since the year end were:
Hertfordshire County Council nominaied governors:
Mr Derrick Ashley (Chair)
Mr Ray Shakespeare-smith {Vice-Chair)
Mr Bernard Lovewell
Mrs Jane Shipley
Mrs Lara Freeman (Appointed 2&Mar-24)
North Hertfordshire District Council nominated governors:
Prof Simon Harwood {ResigTAed 31-Mar-24)
Cllr Claire Strong
Cllr Kay Tart (Resigned 31-Mar-24)
Cllr lan Albert
Cllr Keith Hoskins (Appointed I l-Jul-22)
Cllr Donna Wrighi (Appointed O l-Apr-24)
Cllr Daniel Wrighi-Ma50n (Appointed O l-Apr-24)
Rand?* Educational Foundation nominated governor..
Mr Ben Hurworth
Ex Officio Governors..
Rev Chris Bunce
Dr Helen Corkill
Mrs Nesta Job
Mr David Mclnlosh
Head Teacher5 - who attend in an advisory capacity:
Mr Geraint Edwards - The Priory School
Mr James Crowther- Hilchin Girls, School
Mr Fergal Moane - Hitchin Boys, School (Resigned 31-Aug-23)
Mr Tim Bennett - HitchRn Boys, School (Appointed 01-Jan-24)
Statement of Governors Responslbllltles
The governors are responsible for preparing the Report of the Governors and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepied Accounting Practice).
The law applicable to charities in England and Wales. the Charilies ACL 201 l. Ch4rity (Accounis and Reports) Regulations
2008 requires the governors to prepare financial statements for each financial year which give a true and fair view of the slate
of affairs of Ihe charily and of the incoming resources and applications are resources, including Ihe income and expenditure,
of the charity for that period.
In preparing Ihese financial statements, the governors are required to..
select suitable accounting policies and then apply them consis*ntly:
- observe the methods and principles in the Charity SORP.,
- make judgements and esiimaies that are reasonable and prudent.
prepare the fInancial staternents on the going concern ba515 unless it is inappropriate to presume that the charity will
onlinue in busines5.
The governors are responsible for keeping proper accounting records which di5c105e with reasonable accuracy al any lime
Ihe financial position of the charity and to enable them lo ensure Ihal the accounts comply with the Charities Acl 2011, Ihe
charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity
and hence for taking reasonable steps for the prevention and detection of fraud and oiher irregUl￿ltIe5.
Page 5

HITCHIN EDUCATION FOUNDATION
REPORT
F THE GOVERNOILS
FOR THE YEAR ENDED 31ST MARCH 2024
This report was approved by the Governors on 5th November 2024 and signed on their behalf.
Mr. R. Sh&kespeare-Smith
Vice-chairman
Chairman
Page 6

HITCHIN EDUCATION FOUNDATION
INDEPENDENT EXAMINERS, REPORT TO THE GOVERNORS OF
HITCHIN EDUCATION FOUNDATION
FOR THE YEAR ENDED 31ST MARCH 2024
Independent examiner's report to the Governors of Hitchin Educalion Foundation
I report to the Governors on my examination of the financial statements of Hitchin Education Foundation for the year ended
31st March 2024 which comprise Statement of Financial Activities, balance sheet and related notss on pages 10 to 16.
Responsibilities and b&sis of report
As the charity's Governors you are responsible for the preparation of the financial statements in accordance with the
requirements of the Charities Aci 2011 ('the 2011 Aci,).
Having satisfied rnyse￿ that the financial slatemenis of the charity ar¢ not requI￿d to be audited and are eligible for independent
examinalion, I report in respect of my examination of your charity's financial slalernents as carried oul under section 145 of the
2011 Acl. In carrying out my examinalion I have followed the applicable directions given by the Charity Commission under
section 145(5)(b) of the 2011 Acl.
Independent examiner's statement
I have completed my examination. I confirni that no material matters have come ro my allenlion in connection with the
examination giving me cause to believe that in any material respect..
accounting records were not kepi in respect of the Charity as required by section 130 of Ihe 201 l Act. or
2. the financial slatemenlb do nol accord with those records. or
3. the financial slatemenib do noi Comply with the accounting requirements concerning the form and content of financial
tatements ¥el out in the Charities (Accounts and Report5) Regulations 21y)8 other than any requirement that the financial
statements give a 'true and fair view, which is not a matter considered as part of an independent examination.
4. the financial statements have not been prepared in accordance with the merhods and principles of the Sialement of
Recommended Practice for accounting and reporting by charities (applicable lo charities preparin8 their accounts in
accordonce with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
T have no concerns and have come across no other m&lters in connection wilh the examinaiion 10 which aiteniion should be
drawn in this report in order lo enable a proper understanding of the financial siaiements 10 be reached.
Philip Dea
Hicks and C
pany
Chartered A¢¢ouniant
First FIoor. 99 Bancroft
Hilchin, SG5 INQ
Date.. 5th November 2024
Page 7

HITCHIN EDUCATION FOUNDATION
STATEMENT OF FINAN
IAL ACTIVITIES
(Incorporating an Income and Expenditure Account)
FOR THE YEAR ENDED 31ST MARCH 2024
Unrestrficted
ineome
rund
Restricted
Income
fund
2024
Total
2023
Total
Note
Income:
Income from charllable activitios:
Rent and insurance premiums ￿ceivable
Service charges receivable
Investment Income:
Dividend and inlcre5t distribution income
Inlere.sl received
Other income:
Grants. receivable
Insurance claim
Total income
115,659
12,155
115,659
12,155
112,004
13,191
6,037
913
6,1137
913
5,874
165
JJ28
138,492
3,328
138,492
131,634
Expenditure
10.
Cost of ralsing funds:
Cost of collecting rent and insurance
Properly expenses
6,408
55,518
6,408
S5￿18
7,117
81.853
Expendlture on charitable actlvllles:
Charitable activities
81,656
81,6S6
84,724
Total expendlture
143,582
143,582
173,694
Net expendlture before transfers
(5,090)
(5,IVJO)
(42,060)
Transfers between funds
(i)
Net lexpendlture)Ilncome before recogntsed losses
(5,091)
(5,090)
(42.0601
Other recognlsed losses
Losses on revaluation of inveslments
(1915)
(i)
(1,916)
{8,202)
Net movement In funds for the year
(7,006)
(7,006)
(50,262)
Reeonciliatlon of funds
Tolal funds brought forward
354,651
651
355,302
405,564
Total funds carried forward
13.
347,645
651
348,296
355,302
The notes on pages EO to 16 forni part of these financial stalemenls.
All of the above results are derived from continuing acuviiies. There are no other recognised gains or losse5 other than those
slated above.
Page 8

HITCHIN EDUCA TION FOUNDATION
BALANCE SHEET
ASAT31
T MARCH 2024
Unrestrlcted
fund
Restricled
rund
Note
2024
2023
Fixed assets
Tangible assets
Investtnenls
Totsl fixed wets
70,01)0
10SA54
175
54
70,000
105,719
175,719
70,000
107,635
177,635
165
165
Current assets
Debtors
Short tenn deposits
Cash at bank
Cash held by John Shilcock Lid
Total current assets
24J44
76,777
73,690
38,951
213,762
24J44
76,777
74,176
38,951
214,248
12.925
75.863
98,849
72,589
260.226
Current Ilabllltles
Credilors..
Amounlti falling due within one year
(41,671)
(41,6711
(82,559)
Net current assets
172,IV)I
172,577
177,667
Net assets
347,645
651
348,296
355,302
The funds of the charlty:
Unres¢rketed funds:
General
Designated- services
Designated - roof
13.
246,31S
lJ30
100.000
246,315
1.330
ioo,o(N)
251,512
3,139
iOO,(K)O
Restrlcted funds:
C J Widdows, Fund
Dawson Memorial Fund
476
175
651
476
175
348,296
476
175
355,302
347,645
The notes on pages 10 to 16 forn] part of these financial sra(ements.
The financial staiements were approved by the Governors on 5th November 2024 and signed on their behalf.
DAS
Chairn)an
Mr R Shakespeatt-smith
Vice-chairn]an
Page 9

HITCHIN EDUCATION FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
l. Ob ective
The Foundation is managed by Governors supported by a clerk and professional property advisers. with the principal
objective of raising funds from 115 investments and graniing financial assistance to the three secondary schi)ols in Hitchin
and the piovision of uniforms and educalional facilities for defined beneficiaries.
2. Status and Basls of Aeeountl
Status
The Hilchin Education Foundation is governed by a Scheme drawn up by the Charily Commission, sealed on 5th March
1976 and is administered by the Governors. It is a regisler¢d Charity and, as such. is nol liable for laxalion on its investment
income, nor any other income derived frixn c&rying out the charitable objective of the Foundation.
B&sis of accounting
The financial stalernent5 are prepared under the historical Colil convenlion modified to include the following..
Freehold land and buildingt> comprise Old School Block, 20, Bancroft, Hitchin. Hertfordbhire and 20121, Bancroft.
Hilchin, Hertfordshire, are included at approximation of Cost
Fixed asset investments are btaled at market values
The Financial Statement5 of the charily, which is a public benefit enlity under FRS102, have been prepared in accordance with
Ihc Chariliety SORP (FRS I02) 'Accounting and Reporting by Charities.. Statement of Recommended Praciice applicable lo
ch41rilies preparing their accounts in accordance with the Financial Reporting Stundard applicable in the UK and Republic of
Irc142nd {FRS 102) (effective 1st January 2019), Financial Reportin8 Standard 102 'The Financial Reporting Standard applicable
in the UK and Republic of Ireland, and the Churilies Act 2011.
3. Accountin
Pollcles
Ineome
Renl and insurance ￿ceIv&bIe is included on an entitlement basis and represents income from tenants in accordance with
leases from properties under the control of the Governors
Service charges receivable from tenants lo be used on expenditure of common parts of 21 Bancroft
Income from investments is included in the year when it is receivable.
Grants arc included on a receivable basis
Investment gains or10sses are recognised as a result of revaluating investments
Expendlture
All expenditure is included on an accruals basis and is recognised where there is a legal or constructive obligation to
pay for expenses. All costs have been directly attributable (o one of the functional categories of resources expended
Costs of raising funds comprise the costs Ot collecting renls and insurances frorn ienants
Property expenses of comprise all costs relating lo the refurbishment or maintenance of Ihe properties under the control
of the Governors, together with all associated legal and professional fees
Charitable activities expenditure comprises payments under section 23 and 24 of the Charity's Scheme rules together
with the support costs asKKialed with meeting the conslitutional and statutory requirements
Tangible r￿ed assets
Freehold land is not depreciated. Ficehold buildiThgs are maintained by a programme of maintenance such th&t the residual
values of the properties taken as a whole are at least equal to book value. Having regard to this. it is the opinion of the
Governors that depreciation of the properties would be insignificant.
Fixed assets investments
Investments held as fixed asset5 are stated at market values.
Page 10

HITCHIN EDUCATION FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED
1ST MAR
H 2024
Value added tax
The Charity is exempt Irom Value Added Tax. and is therefore unable to reclaim input lax. Value Added Tax incurred on
expenditure is included as a cost of that expenditure.
Fund ac¢ountlng
Reslricled funds are funds thai can only be used for particular re5tticted purposes within ihe objects of the Foundation.
Restrictions arise wherA specified by the donor or when ￿ndS are raised for particular restricted purposes. Further
explanation and the naiure and purpose of each fund are included in note 12 of the financial stalcments.
General funds are unrestricted and available for use al the discretion of the Governors in furtherance of the objectivcs
of the Foundaliou. Included therein is a service charges fund designated specifically for the collection of contributions
from tenants 3Thd expended 501ely on costs of common part5.
4. Tan
Ible Fixed Assets
Freehold land
and Buildings
Cost or valuation as at:
1st April 2023 and at 315t March 2024
70,000
The frcehold land and buildings compri5e5 Old School Block. 20 Bancroft, Hitchin and 20121, Bancroft, Hilchin. To avoid
professional feeb for revaluing the Foundation's land and buildings. the Governors look the decision lo reverse all previous
year¥, revaluations and re¥tore the carrying value to an historic approximation of cost.
5. Flxed Asset Investments
At Market
Value
2024
At Market
Value
2023
Balance brought forward
Loss on revaluation of inveslmenis
Balance carried forward
107,635
(1,916)
105,719
115,837
(8,2021
107,635
Investments consist of the following:
Quoied investments
7,677.50
6,481.(K)
58.66
Other investments
Charities deposit fund
Units BLK Charities UK Bond
Units M&G Charifund
Units BLK Charities UK Bond
11,185
94,369
85
11,355
96,113
87
80
105,719
80
107,635
Historical cost at 3 1st March
23,145
23,145
Pagell

HrrcHIN EDUCATION FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 20
6. Com
ratives for the
f Financial Activities
Unrestrlcted
income
fund
Restricted
income
fund
2023
Tothl
Income:
Income from charitable activities:
Rent and insurance premiums receivable
Service charges receivable
Investment income:
Dividend and interest distribution income
Interesl received
Other income:
Grants receivable
Totsl Income
112,(MM
13,191
112.(M)4
13.191
5,874
165
5.874
165
400
131,634
400
131,634
Expendlture
Cost of ratslng funds:
C(K%l of collecting rent and insurance
Properly expenses
7,117
81.853
7,117
81.853
Expendlture on charltable activltles:
Charitable activities
84,724
84,724
Total expendlture
173,694
173,694
Net expendlture before transfers
{42,060)
(42,060)
TrAnsfers between funds
(15)
15
Net (expendIture)Ilncon￿ belore recognlsed losses
(42.075)
15
{42.060)
Other recognlsed losses
Losses on revaluation of investments
(8,187)
15)
8,202)
Net movement In funds for the year
(50.262)
(50,262)
Reconciliation of funds
Total funds brought forward
404.913
651
405,564
Total funds carrled forward
354,651
651
355,302
Page 12

HITCHIN EDUCATION FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
7. Debt
2024
2023
Rent in arrears
Service charges ID a￿earS
Rands Educational Foundaiion donations receivable
Rent deposils held
Interest distributions receivable
16J(Kl
983
5.764
3(MJ
6J46
115
24J44
6,346
12,925
8. Creditors
2024
2023
Section 23 grants approved but unpaid
Rents received in advance
AccnJ&l for rent collection fees
Accnjal for Clerk's honorarium
Accrual for office expen5eb
Accrual for accountancy fees
Accrual for repairs and maintenance costs
Rent deposits due lo tenants
46,300
21,549
,529
3.683
24J75
2,483
3067
600
2.352
21K)
6,346
82,559
6J46
41,671
9. Incom
Unrestrlcted
Income
Funds
Restrlcled
Funds
2024
Total
2023
Total
Rent and insurance premiums receivable (see below)
Service charges receivable (see below)
Dividend and interesi disiribution income (see below)
Interest received
Grants receivable
Other income - Insurance claim
115,659
12,155
6,037
913
400
3,328
138,492
115,659
12,155
6,037
913
112.CKM
13,191
5,874
165
400
3,328
138,492
131,634
2024
2023
Rent and Insurance pren￿un￿ recelvable
Old School Block. 20 Bancroft, Hitchin
20 and 21 Bancroft, Hit¢hin
43J80
72,279
115,659
43.008
68,996
112,004
Servlce charges recelvable
20 and 21 Banerofi, Hitchin
12,155
13,191
Income from investments
Dividends from M&G Charilund
Intsrest distributions from BLK Charities UK Bond
Interest from Charities deposil fund
5A74
461
5,412
461
6,037
5,874
Page 13

HITCHIN EDUCATION FOUNDATI
NOTKS TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
10. Ex
2024
2023
Costs of raising funds:
Cost of collecting rent and insurance premiurns
6,408
7,Il7
Property expenses:
Property insurance premtums p3yAble
Service charge costs
General maintenance
Legal and professional fees
Cost of utilities
10,485
13,964
16,805
12,489
1,77S
55518
9,481
l4,186
43,329
13,719
1,138
81,853
Expenditure on charltable activities:
Grants approved under s23 (see below)
Granttri approved under s24 (See below)
TNbtees in¥uran¢e prernium>i
Clerks honorarium
OffiLL cost
A¢¢ounlancy feet•
46,300
27,932
556
3,867
601
2,41X
81,656
46,300
31,189
505
3,683
695
2,352
84,724
Grants approved under seetlon 23 (per above)
Hcrifordshire Educational Foundation
North Herts Educational Support Care
Hitchin Girls, School
Hitchin Boys, School
The Priory Schi>ol
31)0
300
1,000
15,000
15,000
15,0(Ki
46,3
15,1)IKI
15,000
15,IKIO
46,300
Hltchln Glrls, Hilehin Boys,
School
School
The Prlory
School
Balance brought forward al 1st April 2023
Granis approved for the year
Speciul grants - Support for pupil pas(oraUcounselling
15,000
10,000
5,000
30.000
130.1)00)
15,000
10,000
5,000
15,000
10,000
5,000
30,1)00
(30,000)
Less: Grants paid in the year
Balance carried forward at 3 Isi March 2024
(30,000)
2024
2023
Grants approved under sectlon 24 (per above)
Grants paid
27,932
27,932
31,189
31,189
11. Governors, Remuneration and Benefits
No mouies were reimbursed to members of the Board of Governors. No members of the Board of Governors or any person
onnected with thern has received or is due lo receive any remuneration for Ihe year ended 3 Isl March 2024 nor for Ihe year
ended 3 Isi March ?0?3 direcily or indi￿C(lY from the charity's funds.
Page 14

HrfcHIN EDUCATION FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
12. Funds
The Funds are explained in the following noles and an analysis of each Fund is shown in Notes 13 and 14.
Unrestricted Funds
These comprise..
General Fund represents the accumulated surplus arising from the activities of the Foundation as a general fund. A designated
service charge account in which service charges from tenants of 21 Bancroft are collected and expended on common-part costs.
Ihe balance of which represents the funds under the con(rol of John Shilcock Lid in a service charge client account. A
designated roof repair fund for the expenditure on a new roof 0121 Bancroft.
Restricted Fun(is
C J Widdows. Fund
Thi.5 represen15 a specific bcque.st, the income of the Fund to be used lo purchase books and provide bursaries to Secondary
School children.
Dawson Memorial Fund
Thi5 represents a specific bequest, the income of the Fund is used lo purchase appropriaie natural history books for Hilchin
Public Library.
13. Anal sis of Movement in Funds
Balances
Isi April
2023
Transfer
beiween
funds
Balances
31st March
2024
Inveslmeni
losses
Income
Expendiiure
Unrestrlcted Fun(Ls;
General
Designated - services
Designated - roof
251.512
3,139
100,000
354,651
126.337
12,155
(129.618)
(13,964)
(1,915)
ii)
246,315
1,330
100,CKiO
347,645
138,492
143,582)
1,915)
(i)
Restrlcted Funds:
C J Widdows, Fund
Dawson Memorial Fund
476
175
651
476
175
651
Total Funds
355,302
138.492
143.582)
(1.916)
348,296
Balances
Isl April
2022
Transfer
between
funds
Balances
31st March
2023
Investment
losses
Income
Expenditure
Unrestricted Funds:
General
Designated
Designaled - rwf
350,779
4,134
50,000
404,913
118,443
13,191
(159,508)
(14,186)
(8,187)
(50,015)
251,512
3,139
i(KI,￿o
354,651
50,000
15
131.634
(173,694)
8.187)
Restricted Funds:
C J Widdows, Fund
Dawson Memorial Fund
476
175
651
(15)
15
476
175
651
(15)
15
Total Funds
405,564
131,634
(173,694)
{8,202)
355,302
Page 15

HrrcHIN EDUCATION FOUNDATION
NOTES TO THE ACCOUNTS
R THE YEAR ENDED 31ST MARCH 2024
14. Anal
sis of Assets and Llabilities to Funds
Other
current
Net assets
3lst March
2024
Fixed assels:
Properties
Investments
Cutrent
liabilities
Bank
assets
Unrestrlcted Funds:
General
Designated - services
Designated- roof
70,000
105.554
88,088
1,330
loo,000
24,344
(41.671)
246,315
1,330
i(K),000
Restricted Funds:
C J Widdows, Fund
Daw.son Memorial Fund
85
80
105.719
391
95
189,904
476
175
348.296
70,IK)O
24,344
41,671)
Other
current
Net a¥sety
3151 March
2023
Fixcd assets..
Properties
Inveslmenis
Current
liabilitie5
Bank
assets
Unrestricted Funds:
G¢nLrul
Designated - services
Dcsignaled - roof
70.000
107,468
143,678
3.139
100,CKiO
12,925
(82,559)
251.512
3.139
I￿.000
Restricted Funds:
C J Widdows. Fund
Dowson Memorial Fund
87
80
107,635
389
95
247,301
476
175
355,302
70,000
12,925
(82,559)
Page 16