THE HORNCHURCH, ROMFORD AND HAVERING EDUCATIONAL FOUNDATION Registered charity, number 312963 Report of the trustees and receipts and payments accounts for the year ended 31 August 2024 Page Contents Trustees, annual report Independent examiner's report Receipts and payments accounts ststement of assets and liabilities Notes to the accounts Registered charity. number 312963 Trustees. annual report for the year ended 31 August 2024 Full name The Hornchurch, Romford and Havering Educational Foundation Organisation type Other Registered charity number 312963 Principal address Church House, Market Place, Romford, Essex, RM13AB Trustees Rev David Simpson until 10103124 Derek Holland Rev Ken Wylie Rev Beth Joss-Pothen Sin￿ 27104124 Alex Quinn Simon Coe until 29102124 Giles Drew Independent examiner Kim Lee, Mawney Accountancy, 1 Beech Street, Romford, Essex, RM7 7LA. Governance and management The Hornchurch, Romford and Havering Education Foundation was established by a trust deed dated 22 March 1966 to support by way of grants to St Edward's Church of England Schools in Havering. Appointment of trustees, induction and training Trustees are appointed for a term of five years and are re-appointed at one of the three meetings which take place during the year. The incumbents at St Edward's Church of England, Romford, and St Andrew's Church of England, Hornchurch, are ex officio. Objectives and activities The principal activity of The Hornchurch, Romford and Havering Education Foundation {"The Foundation") is the appropriation of land and buildings for use of St Edward's Church of England Voluntary Aided Primary School, Romford and St Edward's Church of England Academy, Romford (together known as "St Edward's Church of England Schools, Romford"), which admit eligible children from families of the general public. In addition to appropriating its land. with the buildings thereon, for the use by St Edward's Church of England Schools, Romford, as voluntary schools within the meaning of the Educational Acts 1944 and 1986 other objectives include: Providing financial assistance to the Governors of the Schools in discharging their building maintenance obligations. Providing special benefits for the schools not normally provided by the local education authority. Promoting the education of persons under the age of 25 years who are resident in the London Borough of Havering. THE HORNCHURCH, ROMFORD AND HAVERING EDUCATIONAL FOUNDATION Registered charity, nurnber 312963 Public benefit statement The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charty Commission's general guidance on public benefit, 'Charities and Public Benefit,. Freehold and Leasehold Property The Foundation is the beneficial freeholder of the land and buildings comprising St Edward's Church of England Voluntary Aided Primary School, Havering Drive, Romford, and st Edward's Church of England Academy, London Road. Romford. These freehold properties are vested in the Official Custodians for Charities in trust for the Foundation. The Foundation is the beneficial long leaseholder of playing fields land adjacent to their primary school freehold property: the leasehold is vested in the name of the Trustees in trust for the Foundation. Summary of the year The Trustees met 4 times during the year. The focus of the trustees during the year was on: 1. Appraising and, after a site inspection, approving a grant of £24,000 to St Edward's CofE Academy for the creation of additional recreation space following the land swap with the London Borough of Havering approved in 202212023. 2. Updating the signatories to all the accounts held by the Trust prior to rationalising the charity's investments. 3. Working with St Edward's CofE Academy on managing the upgrade of the Vodaphone masts. Financial Review Reserves policy and financial review It is our policy to invest our funds with selected investment managers that balance risks and returns in line with the Trustees goals. During the period funds were invested with, CCLA Church of England Deposit Fund, M&G Charibond, M&G Chariftjnd and Blackrock Charities UK Equities. The average interest rate on the CCLA account was 5.07% pa for the quarter ended 31 August 2024. As set out on page 5. total receipts of unrestricted funds were £25,309 (2023 - £20,477). No restricted donations were received. The net result for the year was a deficit of payment over receipts of £5,416 {2023 - surplus £20,642). The balance carried forward at 31 August 2024 on Unrestricted Funds totalled £117,857. Signed on behalf of the charity's trustees: Signed Giles Drew, Trustee Date I Registered charty, number 312963 Independent examiner's report to the trustees of for the year ended 31 August 2024 I report to the trustees on my examination of the accounts of The Hornchurch, Romford and Havering Educational Foundation (the charity) for the year ended 31 August 2024. Responsibilities and basis of report As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charty's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's ststement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act", or 2. the accounts do not accord with those records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed Date 12/6 Izs Kim Lee, FCMA, mip, A Mawney Accountancy 1 Beech Street Romford RM7 7LA THE HORNCHURCH, ROMFORD AND HAVERING EDUCATIONAL FOUNDATION Registered charity, number 312963 RECEIPTS AND PAYMENTS ACCOUNT for the Year ended 31 August 2024 2024 2023 Unrestri¢ted Endowment Total Totsl funds funds funds futtd$ 14otes RECEIPTS Investment income Vodaphone Income Investment incom8 Deposit account interest 8,750 6,653 9.906 8,750 6,653 9,906 8.750 6,302 5,424 TOTAL RECEIPTS 25.309 25,309 20,477 PAYMENTS Grants Given: St Edwards Academy Expenditure: Administration Clerk's honorarium Ofcom Governanca 30,000 30,000 350 350 375 375 357 TOTAL PAYMENTS 30,725 30,725 357 NET RECEIPTS I (PAYMENTS) 5.416 5.416 20,120 OTHER RECOGNISED GAINS I (LOSSES) Gains l (losses) on revaluation of investments 10,398 10,398 522 NET MOVEMENT IN FUNDS 5,416 10,398 4,982 20,642 Transfers between funds Total fvnds bought forward at 0110912023 123,273 285,050 408.323 Total funds (2rried forward at 3110812024 117,857 295,448 413,306 Increasel-Decrease in Debtors Increasel-Decrease in Creditors Funds after Debtorslcreditors 117,857 295,448 413,306 Registered charity, number 312963 STATEMENT OF ASSETS AND LIABILITIES as at 31 August 2024 2024 2023 Unrestricted Endowment Totsl Totsl funds funds funds funds Nolo$ CASH FUNDS Bank balance CCLA Deposit fijnds 59,119 58.738 117.857 59.119 197,100 256,219 74,441 187,195 261,635 138,362 138,362 INVESTMENT ASSETS M&G Charibond M&G Charifvnd BlackRod( Charities UK Equity 15,925 54,604 86,557 157,086 15,925 54,604 86,557 157.086 15,266 50,587 80,835 146,688 DEBTORS St Edwards 200 dub LIABILITIES Creditors Debtors NET ASSETS 117,857 295,448 413,306 408,323 FUNDS AFTER DEBTORSICREDITORS Unrestricted funds 117,857 295,448 413,306 103,154 284,528 Endowment funds 387,682 These financial statements are accepted on behalf of the charty by: Signed Giles Drew, Trustee Dated I THE HORNCHURCH, ROMFORD AND HAVERING EDUCATIONAL FOUNDATION Registered charity, number 312963 NOTES TO THE ACCOUNTS for the year ended 31 August 2024 1. RECEIPTS & PAYMENTS ACCOUNTS Receipts and payments accounts contain a summary of money received and money spent during the period and a list of assets and liabilities at the end of the period. Usually, cash received, and cash spent will include transactions through bank accounts and cash in hand. The financial statements have been prepared in accordance with the Chartties Act 2011 Section 133, using the Receipts and Payments basis available to small charities. 2. FIXED ASSET INVESTMENTS Shown in A¢¢ounts Value at 0110712023 Gain I Value at Value at Impairmenl 3010612024 3010912024 M&G Charibond M&G Charifund BlackRock Charities UK Equity 15,266 50.587 80,835 146,688 659 4,017 5,722 10.398 15,925 54,604 86,557 157.086 16,069 54,675 87,494 158,238 The values for Fixed Asset Investments are shown as at 30106124 being the last known valuation before the accounting year end. The value as at the 3010912024 is also shown for reference. 3. FUNDS ANALYSIS The movements in designated and restricted funds during the year were: The movements in design*ed and restricted funds during the year were: Bal flfwd 0110912023 Income Expenditure Transfers Other gains & losses Bal clfwd 3110812024 UNRESTRICTED FUNDS General tund 123.273 123,273 25,309 25,309 30,725 30,725 117,857 117,857 ENDOwmE￿r FUNDS Investments held Procceds from endowment property 146,688 138,362 285,050 10,398 157,086 138,362 295,448 10,398 TOTAL 408,323 25,309 30.725 10,398 413,306 Registered charty, number 312963 4. DEBTORS AND CREDITORS Cheques for goods or services purchased, or invoices for goods or services delivered, which are issued prior to the end of the financial year or relate to the financial year but not appearing in the end of financial year bank statement are reported as outstanding creditors or debtors respectively. There were no known amounts owed to the charty or by the charity as at 31 August 2024. 5. TRUSTEES, REMUNERATION Trustees received no expenses, remuneration or benefits in this period. 6. RELATED PARTY TRANSACTIONS There were no related party transactions during the year.