THE LEE EDUCATION CHARITY OF WILLIAM HATCLIFFE Registered Charity Number 312801 REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 THE LEE EDUCATION CHARITY OF WLLIAM HATCLIFFE CONTENTS Page 12 & 3 Report of the Governors Independent Examiner's Report 5 Statement of Financial Acltvilies Balance Sheet 7 & 8 Notes to the Accounts THE LEE EDUCATION CHARITY OF WILLIAM HATCLIFFE LEGAL AND ADMINISTRATIVE INFORMATION GOVERNORS Mr D Walker (The Reverend) Mrs D Brooker Mrs K C Donnelly Mr W D Kirkman Mr R Thomas Mr R W B Clough CLERK Mr P Granger CHARITY NUMBER 312801 PRINCIPAL ADDRESS St Margarevs Vlsttors Centre 2 Brandram Road Lewisham London SE13 SEA BANKERS Barclays Bank PLC 16 Tranquil Vale Blackheath London SE3 OAY CAF Bank limited 25 Kings Hill Avenue Kings Hill Kent ME194JQ INDEPENDENT EXAMINER M P H Jones FCA Wallace Crooke Chartered Accountants College House St Leonards Cbse Bridgnorth Shiopshire I￿16 4EJ THE LEE EDUCATION CHARITY OF WILLIAM HATCLIFFE REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 MARCH 2023 The Governors present their report and accounts for the year ended 31 March 2023. The Governors have adopted the provisions of Accounting and ReFX)rting by Charities.. Statement of Recommended Praclice applicable to chaiilies preparing their accounts in accordance with the Financial Reporting Standaid applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151 Structurei governance and management Govemlng Document Although founded in 1622, the Charity is currently governed by an Order of the Charity Commission dated 17 June 2009 which amended its govemance to permit a wider area of benefit for the application of the Charity's funds. There is no need for the charity lo engage in fundraising as it derives income from the Estate Charity of William Hatcliffe. The Charity receives 400A of the income derived by the Lee Charity of William Hatcliffe from the William Halcliffe Estate Charity. The Estate Charity has advised that it expects to be able to maintain its distribution lo the Charity al the current level for the foreseeable future. The Govemors are appointed for terms of four years, other than the Rector for the time being of St. Margaret of Antioch. Lee. who is an ex-officio Governor for the period of holding such office. One Governor is appointed by the Council of the London Borough of Lewisham and six appointed by recommendation from the Governors. The Governors meet quarterly or more frequently as circumstances or needs iequire. Those who served during the year were.. The Reverend Timothy Goode (Resigned 13 July 2023) The Reverend Daniel Walker (Appointed 13 July 20231 Mrs D Brooker Mrs K D Kirkman Mrs K C Donnelly Mr RWB Clough Mr C R Jeal (Deceased 10 May 20221 Mr R C Thomas Mr R Quinell {resigned 8 March 2023) Under the direction of the Governor5, the Charty employs a Clerk to carry out financial, administrative. and secretarial dubes. An 'Amba5sador' is also employed to promote the charity and liaise with prospective and 5uccessfvl grant applicants. The charity embraces all aspects of the Equality Act 2010 Risk management The Governors have assessed the major risks to which the charity is exposed and are satisfied that the systems are in place to mitigate exposuie to the majoi risks. Internal financial risks are minimised by the implementation of procedures for the authorisation of all tiansaclions. The Governors have decided it prudent to temper the Charity's level of grants awarded so that reserves are maintained at a minimum level of £30,000 as a Safeguard against possible future eventualities. Object and aetlvltles The Charity is grant-making with the objective of promoting the education {including social and physical training) of young persons who have not attained the age of 25 years, who are resident in or in the neighbourhood of the benefi'cial areas who in the opinion of the governors are in need of financial assistance. The Governors confirm that they have given eareful eonsideration lo the Charity Commission's general guidance on public benefit when reviewing objectives and planning activities. Public benefit statement The governors confirm that they comply with their duty lo have due regard to the Charity Commission's public benefit guidance. The Lee Education Charity of William Hateliffe targets funding for the relief of povety and to tackle social and health inequalities. 11 makes grants to support the work of charities and community groups that work with people affected by economic disadvantage and for individuals who are in neèd, hardship, or distress. The charity awards grants based on published criteria and through a thoughtful and fair assessment of the needs and aspirations of the applieanls. A monitoring process ensures that public benefit is derived from each grant award. Achievements and performance During this financial year there has been a considerable review of management processes. data collection, information and financial tools. governance, and policy with an emphasis on= 1. A structured approach for timely. accurate and responsive information Sharing within the organisalion 2. Robust financial controls 3. Agility and appropriate prudence rooted in well-informed decision making 4. Responsiveness and ability to disburse grants quicker to people with more urgent needs 5. Greater local visibility and lo build reputabon In 2005 the Charity sel up a "partnership panel" of 10 charities operating in Lewisham across a wide spectrum of those with differing needs lo act as sponsors for grant applications from individuals. Publicity of the Charity's activities continues lo be circulated lo not only panel members but lo other agencies inviting applications to be made for individuals. The re￿nt launch of our brand-new website {https'.Illee-hatcliffe.org.uk) is also significant in terms of profiling the charity and its grants scheme in the locality. As a result. the charity now receives a steady stream of applications every month for both individuals and charities, and il has been able to distribute more awards than prior years. Grant Applications were also invited from all registered charities in the London Borough of Lewisham engaged in the relief of need for grants lo assist in any aspects of their work. The Trustees meet monthly to consider grant applications and to manage the Charity's business. They also consider urgent grant applications between such meetings_ The charity continues lo support a variety of youth organisations in the borough who in turn alongside numerous schools make individual Teferrals to us. During the year: Grants lolalling £41.12412022- £5.0001 were awardecS 10 812022- 11 or9anisalions. Grants lolalling £46,389 were awarded to 8 schools inclLJding 5 schools to give 'Pupil Premium, students the opportunity to learn an instrument. attend a club. participate in school fesidenlial trips elc. Meeting a wide range of educational needs. grants tolalling £8.98312022- £2,615) were awarded to 1912022- 5) individuals. Finan¢ial Review Re8orve$ Policy The charity s enblled to 40% 01 Ihe income the Lee (Jwrrty ofVWAham Hatch"ffe le￿1¥eS from Ihe Wlllram Hatclrfk Eslate Charity. 11 Is the policy of the Govem(Ks thal unreslricled funds have rLbl tEen desvJnaleil for specific use shwkj be manlained al a level wh￿h will ensure ihat, in ihe evenl ol a sgnifunt drop In Income. they will be able to conbnue the charity's current acts'vits'es for a per￿ of at least one year while conside¥ab"on Is gNen lo ways in which addkl.onal fvnds may be raised. The level of resetves required under this poh'cy *￿uld te approximalely £30.(m12022- £30.1￿1. At 31 March 2023 the free ￿serveS l*ld are £398.035 {2022- £448.730). All Ihe chafity's funds a￿ ￿lestr¢I￿j aNJ lor the I￿t￿r￿ of ts ot¥ecI￿. As ihe econollNc dimate cOnbn￿s to rau5e fnarKial hardship ts rnany people, Ihe Goveinots will enthavoLW to meet tr* chaler￿e by reguL2bTrJ the tolal aTTh)unl awarded to successful aWicants and lo he¥J al ￿$1 as many $￿table apphcants as t￿1￿￿e in some way btjt control the outftow of bJnd5 from reserves. On b¥h•lf ol the board of Gov¢mors Govemo Oale.. 18th Oclolw 2023 INDEPENDENT EXAMINER'S REPORT TO THE GOVERNORS OF THE LEE EDUCATION CHARITY OF WILLIAM HATCLIFFE l ieport on ￿ounts of the charity for the yew ended 31st Marth 2023. which are attached. Rgspective re5ponslbllltles of Governorn and Examiner As the Charty's Govemors you ale responsible foi the prepafation of the accounts". you conslder That the audit requirement of section 14412) of the Charites Act 2011 Ilhe Act) does not apply. It is my responsibility lo slate, on the basis of procedures specified in the General Dir￿1￿)n$ glverb by Ihe Charity Commissioners under Section 14515Mbl of the Act. whether particular matters have c￿e to my attention. Basis of Ind&pgnd8nt Examinerfs Report My examinat¢or¢ was Carl￿ out in accordance with the General Directh)ns gNen by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charlty and a cornparfson of the accounts presented with those records. 11 also includes considerallon ol any unusual items or disclosure5 in the accounts, and seeking explanations from you as Governors concerning any such matters. The procedures undertrdken do not provide all the evidence that woukl be required in an audit and, consequenuy I do not express an audit opinion on the view gNen in the accounts. Independent Examiner's Statement In Connection Wbth ry examination. no matter has to come to my attention lal V￿lCh gives me ieasonable cause to believe that in any material respect the requirements.. To keep accounting records in accordan￿ with Section 386 of the Companies Act 20C6 To prepare aecounts which accord with the accounting records and to comply with the accounliNJ ￿quIrements under Section 386 of the Companies Act 201%, or are ￿nStant with have nol been mel or {b) To which. in my opinion. attention should be drnwn in order to enable a proper understanding of the accounts to be feached. MPHJ Wallace Cr Charte Cc4kg•ouse Sl Leonards Close BfIdgn￿th Shropshire WV16 4EJ unlants Dale.. 18th September 2023 THE LEE EDUCATION CHARITY OF WILLIAM HATCLIFFE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 2023 Unrestrl¢ted Funds 2022 Unrèstrlcted Funds Incoming Resourees Income from the Estate Charity of William Hatdiffe under Charity Commission Scherne dated 20 June 2005 50.000 82,000 Other Income Gross Intere51 on Dep051ts Accounts 365 Total Incoming Resources SO,36S 82.007 Resouces Expended Charitable Expenditure Educational Grants 96.146 14,108 Governance Costs Clerk's Stipend Ambassadorfs Stipend Adminislralion Expenses Examiner's Fee 2,160 2,191 107 3,000 182 78 456 420 Total Resources Expgndgd 101,060 17.788 Net Incomlng Resource$ 150,695) 64.219 Funds Balance at 1 April 2021 448,730 384,511 Fund Balance at 31 M￿ch 2022 398,035 448,730 The notes on page 7 & 8 fom part of these accounts THE LEE EDUCATION CHARITY OF WILLIAM HATCLFFE BALANCE SHEET FOR THE YEAR ENDED 31 MARCH X123 2023 2022 Note5 CURRENT ASSETS Debtors Barclays Bank Communty fv¢¢wnl CAF Cash ACc￿llt CAF Gdd Accounl 350.0 58.567 8.241 40,504 457.312 58.567 15,137 331,846 405.550 CREDtfoRS Amounts I￿11ng d￿ wthin one 7.51S 8,582 TOTAL ASSETS LESS CURRENT LIABIL￿1£s 398.035 448,730 FUNDS Unrestrrted lund5 398.035 448.7x1 The notes on page 7 & 8 lorffl part of these accounts The a￿Ounts were approved the GoverTh)rs on 18 Oclober 2023 Governor5 GrJn8er- aerk THE LEE EDUCATION CHARITY OF WILLIAM HATCLIFFE NOTES TO THE ACCOUNTS FOR THE YEAR ENOED 31 MARCH 2023 1. Accounting Policies 1.1 Basis of preparation The financial slalements of the charity. which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP {FRS 1021 'Accounling and Reporting by Charities.. Statement of Tecommended practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial stslemenls have been prepared under the historical cost convention. 1.2 Incoming resources All in¢orne is recognised in the Statement of Financial Activities once the charity has entillemenl to the funds. Income from The Lee Charity of William Halcliffe is recognised on an accruals basis when the enlillement to such income arises and interest when credited lo the deposit account. 1.3 Resources expended Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commith'ng the charity lo that expenditure. il is probable that a transfer of economic benefils will be required in settlement and the amount of the obligation can be measured reliably Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular head1ngs they have all been allocated to activities on a basis consistent with the use of resources. 1.4 Taxation The charity is exempl from lax on ils charitable aclivilies. 1.5 Fund Accountlng Unrestricted funds can be used in accordance with Ihe charitable objectives al the discretion of the Governors. Designated funds are amounts which have been set aside at the discretion of the Governors for a specific, but not legally binding. purpose. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for parb"cular reslricled purposes. 2. Governorfs remuneration and benefits None of the Governors (or any person or organisalion connected with Iheml, received remuneration OT any other benefits for the year ended 31 March 2023, noi for the year ended 31 March 2022. THE LEE EDUCATION CHARITY OF WILLIAM HATCLIFFE NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023 Debtors: Amounts falling due withing one year 2023 2022 The Lee Charsty of William Halcliffe 350.000 350.000 Creditors: Amounts falling due withing one year 2023 2022 Balance5 of Grant awarded HMRC Clerk's stipend Bank charges Examiner's Fee 7.053 7,403 300 450 456 420 7.515 8,582 Movement in fund$ 2023 2022 Unrestrirted Fund5 Opening balance Incoming resources Resources expended 448,730 50,365 1101,0601 384,511 82,007 117,7881 aoslng balance 398,035 448,730 Total funds 398.035 448,730