2023-03-31-accounts

HELE'S EDUCATIONAL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Charlty NuThkn•r. 010254 impkinsEdwards

HELE'S EDUCATIONAL TRUST CONTENTS Page Legal aThY adminlstrthe Inf¢Tha TNStéts' amual r•port Independ￿¢￿X8rfnors Rport St•twnwrtoffinandal ar￿ Sh••t Not••to th• ffinan￿1 •lat•m• 9-13

HELE'S EDUCATIONAL TRUST Paga I TRLISTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 Name-. Hele's EducabMalTru Reglstfdlon NLTrber. 810254 PrirripaFIRot¢red Adthus". EthJMtion ar#J Lwnmg FirwK• RcK)m 180 County C￿1 Tcpsham Ro•d County Hal Exetsr EX2 4aD Tru$t¢•$.' A8vachkn- Marina Aikbnwi- Y¥onn Av¢s- &Jsanna M F (Ch ra.T HanThafwd- Rctrt Mwk 1¢n-m￿tyn C¥d Ivke Chalr) Day to d•y ¥dmini8tr4Uon ttst￿ Tru8tso8' J H8tton 123 Hamln L# Flnw Ed￿tion •nd La8rnkng FIrW￿ Team Rrnm 180 Cowty H￿1 Topham Road EX2 4QD Bankero.. Bwk pk 234 Hp3h Str¢et EX4 3NE Ind•pend¢nt E¥Amk*. Mr A Hemings èA IHon81 FCA CTA Slmpkins Eoknrth LLP Chartered Acetyjntants The Sumnwl IP&l)(thier Park Pynes H¢ll EX5 21hB CCLA- Inve5trnent M￿9￿8 Charles Starky Inve$bn￿ M8nag&¥

HELE'S EDUCATIONAL TRUST Paga 2 TRUSTEES, ANNUAL REIJORT FOR THE YEAR ENDED 31 AIARCH 2023 The tDJsle85 present Ih8r SnrX￿ rerth and siaiaiienis olthe chwlty trthe y•arènd•d 31 Marth 2022. Th8 financial Statements have been tyep¥et4rs. ￿Y ￿￿¢￿1¢1101$ Invtad to t￿Crn& a Trustea. The ¢wrty Ctyjncl I￿lj In May2017. DBam M Asv&4in Y Atkiroon S Ayes. T Adm 1chalrpww￿I. R HannatOTd" A Lea( P Prrpw8e C Chpu￿). H AAckFand & G Sheldw r¢(do¢¢d by D 8•me• •fyJ T Ad•m• ' Memb¥ ofth• Itwe8lmonto]mnth• Each nawTnthrec•vas a kralnMtth firm IJ Cl&to thoTrustOe5 ¢ffjJth'ritrvJ th&dubtiS of a Trusteè, a ccpyofthe TTUSt Deed and Ihe W ￿nIs. Al newcounty c￿Tri￿￿5 r￿e1Ve in(hJcVon tralnlng to 8cqualnt them their r(k as cou￿40r9 incknirMJ the financi￿ ￿MIniS1Tal￿6 aspec￿ The TfUStee&, by th8 Conduet of butsintrtss The Irustets ara mt* at trfrt Uw81￿ meet 4 Iw1￿ a ￿ b) r￿UC1 tMAne88. They cmslder awlc81v￿ts grats from Ihe Ttust and tEp￿ts rEwwed on such Matte￿ 8S requi￿ thar attèntion. Tl¥s I￿k1￿$ admrdsirkn matter5 s￿h a5 f•anC￿9[ rwts and reports in rdal'on the physi¢alas$ets oflheTrnst

HELE'S EDUCATIONAL TRUST Pag• 3 TRUSTEES, ANNUAL REPORT FOR THE YEAR EIIDED 31 MARCH 2023 The Twste68 8180 admiiLsi•rlhe Wuest Iwi8teTrJ Clwity No 3rffj7431 seFarate a￿O￿ts Polcles Tr TrLk8t¢QS' FdKy lornthe o sehcd5 for spedalw equlpmenfand imwovement of ladItt￿$. IndlvKlu to a85￿t lowzrd5 Ihe ￿$1 ol or speci￿18t •d￿thi aTrJ I￿rney8 for athjeatknal exwrien¢es h th8 UK and a￿09d. A88kn1￿ ha5 been to b) gfve assIstsr￿ trom pjtllc funda, ¢r there xe real￿9 ¥Athy IheT• ts a need for aMbtan¢e abM the knl prtsvld8d by pU￿1C Grarts m8y be coTrthbond c4kn8 ¢Y In JUw easa, the Twstee8 gr• satWd, I￿0 * a)￿n￿ ￿t￿n byvthKh ttCrk to th&Tr￿tr￿J&s￿ th&Tr•a8wwto relJa8• Ihe funds. Flnan¢lil R•vlbw SUmm￿£￿fi￿r￿I￿l 2023 In¢on Exwndhur• surpw1Dd￿1j 79.828 ,074 23,752 73,290 41,084 32.206 Durhig yearth• TruBtaia pdd tcW E25,7061É19.148 112021r221. In oudlne, the grartl all￿t￿th of. Yh#•. ￿￿0¢1 tsIp8. ￿MmIng leM¢n•, Prfn¢tp41 Fundlnq 8wrM• Unt51 DI¢￿￿er 2009 the prineiA hK<tha otlhe iwly frcth We recelp¢s of Lqnd aThY buldlng$ at the Im¢r hop 8lac8ll Shoc4 Exdtt. Tho Tr￿1888 conrJJded they urlkdy io h atl• ta repe the tenant and deddad to 8dl thts prwty. Thè FWCt8eds ol th• salè 9en¥d £1,577,884 nJt #nd the tw&t888 ha￿ apwnted CCLA Invwlment Man•w8 ￿ Charfes Stanlay Invesbnent Managtrl to m•naga ￿nds. The18nd at St Péterft Ss by the Tr￿t dotrj to b• 88 a Fla￿[v￿ f*hJ by the •chts￿ and oenerates w Incc4ne. Th• Trusts. anthyMnortaknr#mw¢as an an￿urt kn COIF I￿￿01¢8 lund$￿￿￿ 8re avalLable to t• ¥FW 88 r•wked. Underthe tem1saf1mTn￿LdI0I ThD stj￿$￿0S￿￿l a￿A￿ly.

HELE'S EDUCATIONAL TRUST Pag• 4 TRUSTEES, ANNUAL REPORT FOR THE YEARENDED 31 MARCH 2023 Invostrnont PollGy The Trustees fom%d a 14 tnL%tee51 to pycrfjuce an straknw •nd to int•vl¥ pol￿bal fund manage¥s ofthe on a 0￿￿tI￿ary l)asls. Th• ¢orrmltt￿,8 proposal6ftyih6 irweskn￿tstr￿ reapwo¥ed ty Ihe tru8t•e8. The commt•o ￿80 made r8commendknns to the hjl trustees ￿￿ng rtrdetern1￿tsy c¥lterla for seFeclon ofthè ftthd man4ws. The maSn agnth wospxthie re asse$8ed r•op0801$ ks.. al leayt malnt8ln the vdue ofthe PemweTht Enthyrnt kn the twm,. edLre a level ofirKcme for the TnMt •quNfit to at least rentsl in¢thn• at k8St malnlaln th18 In real trn., mlnlmtre ktsk consistent wlth Ihese c4ei ¢yperténce ofand thali p¢rfryrnartt In Chathabl& a888ty.. lae W.. snd Invest ethKa￿ therever po88it4&, avowJ¢r#J in Part￿r. tobacco stcKs. A d•taSknd 8l•tem•nt h88 bean pYoth)c•J •gr••d ty 81 trLwts•• ex￿d8 on thet• prlndF486. Th¢ Tote86 ￿￿the ￿lCY sl#t•nant b￿￿ul￿. The truiitts F4a¢• a high fvSty ¢)n mAlntainSng th• r￿1 ol O)0 •nd ￿ In¢omo retums ovar tho longer term and acceptthat at Ilme6 ffl•an acctyUrrfJ sltr)rt or madkni tthiii In CaPrt￿ va￿0￿ F¢r Ihli wrwe, Iruste¢s meawr• p¥fm•n¢• 49•M b8rthn•rkdats paramétor& TITN8t•e8w￿ notlthlc+ lThv••t kn c47ynbg• pr￿jU￿n9 iobwzo othe￿30, ihe Tru6t•es •lrn to oblerva re8ponslt4e in¥lain￿l prinds. Th• fund MIn•￿ ir• •yp•thd to tsk¢ Into consld¢r•lon thg environmentd, ￿81 aTrJ governar￿ chwacteiisbcs of •xistry prD5ptht investrnents, where th1& 1$ pr8th.cal aThJ pr0wb.tN￿ in Ihe ¢4ntxl Of￿ ovw•# Iwestswl $tr4tsw. thera 18 a choica b8N4•n mparJes, the Tru$t¢e8v￿￿ ¢x4ctthe Fund mintrJer t4 th00sè the m￿t mind¢d ofthe tsvo. Ea¢h pth%f¢lio rn•no9¢r h foww¢d lo rwyyt on perfO￿r￿ and to ac4Iev8 twgets in¢ludé an Innual r¥te of reium. The Trua¢ee$ h•ve, in ordetto mthgate risk. ￿tIlM￿S M tm pwporbcn$ ofthe fund which may frrxn time to time be held in p8itiotsr U)vest￿¢s. Direct imiestsnenl In derivati¥e inslNmentS 15 not pernitted othwlhan to tted9e risk exposu￿1 from can4￿tiOnal Imlestrn￿rta made lfi the pursu￿ of th• Trust8e5 5tsted thv8Stment tJbi•dbv•& R•s•rv•• Ptsllcy It 15 Ihe poky ofttTrt4l¢es trj m•trtshrew&s# a ltsYl8PWfylto ts TnMf8opwalon8. C8#h rèJa 8r• maknt#ined at l￿b o kn13s 10 ￿ ab￿ to respthj to r￿￿tOr a$81star￿& Th8 major wt dthè TnJ6fs as￿1¥ k in oll￿d aThl lJvJt4rffl 1rhwl￿aTrJaS such are nGI readty rndisat. Taxatlon 8tt In the of the Trwtee5 the Tlust Is Chwitaik 41Nn the m•anSng of the Incorfie and Corwatk)n Taxes Act 1988. They a￿01$0 orkn Ihlhe a¢￿VIleS oflhe Trust are exomFt rrem tsx byknl of#tsn 505 Oltr￿ Major rf8k8 The Trth8te88 ha¥8 88sesaoJ Iho mr rwks to Ih? Chaity ￿ eNpxJ. Ihosa rela￿ to the op￿alon art dtheTwLrt are satW•J syst￿$ are i) MW exwalo any rf8kB. FinarKial Stat1￿ r•eudh¥J tho lthst avalatrAe posknm are made avtht48 to TN&tae8 at each m8etirJ. RLryk k¥emw is1ressed ttYLwhlhe tem)S Lylha

HELE'S EDUCATIONAL TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 PAARCH 2023 T•ngfjb￿ Flx•d Awi8 LaNI aThJ 91￿lIV The Truste8s are constrakned bythe Trust dEed 8$ to Ihe ￿ the lond be wt,. n•m¢ty as a school Flaylng fidd. The Trustees a￿ not able lochar9e a renl fw its l￿e. The L8nd was passed to the Trustat rK cost. Underthe h￿t￿l¢al ¢osl Conventi￿ this 1$ the c¥rying vthe. This B a divergence trom FRS15. ich creates the expedabon ol a rev￿8￿. bAthe prospect ofa th"gpo￿ ￿extr￿dY rwote and th¢ Trustees See ￿ benefitln irwrtng lh¢ eogts CO a f¢mi4 rwalualicffj. InV￿tr￿ents ￿ val￿￿ aithe pl￿￿ed marketth set by the Ch9n￿ Offidd Invesknont Fund on 31 Marth. Admlnl8trativ• and techni¢￿ •upptyt Thebr Clerk, •$ dl$ch)88d in note 8. receW an and expwbses 14)wb"ng the Trustees. The TruBte88 PLff¢hag¢ 8peciaist prop•ty advtt s& rwllred. A m￿ber of staff I￿1￿1n the Flrwn¢e DSr¢dor8t8 of Devon County c￿nc￿ mabtsins the fjnanoal reewd8. It W¥$ 99reed in November 2011 that the gUPPOrt proV￿ed ty lh• Devon County G￿r￿1 wld be tharyed at an annual rate of £2.500 4 VAT 8nd th18 iryiernenie(l from 2012113. Thttssks to be undertaken by Gounty Cound In¢&Jde.' MaInten￿￿ otflrtarl FINEST IFknanda Systém Trad( IrNe8trn8rd& Pro¥idirrfJ reKxts to the Clerk for dtss&7th8tion tDTfustees. Prepanngth•yéamndfirbfindal8latementsfc¢apyroval tyth•Truats#aThd W••¢nt￿￿ sumorlng Infomation to tho kndepfjnd￿t •xamln Attend8w at meetings ofTrusleeJ. T Ad4rrA (chw￿l.. -r AAI A L••dbeW. Cn t4haWofth6 Twst

HELE'S EDUCATIONAL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 IJARCH 2023 I reportto the trusiees ors my oltr Sialem￿ ofH•￿'S Ed￿1￿0[￿ T￿St{tha tharityl ftwthe year eNJed 31 Klar¢h 2023. R¢8pon81￿.llll1 and b•$ crfrtwt the thjstées ofthe you ar? Yes￿lts1? forthe Fryaralon ofthe stst•M￿S kn a¢wdane the rwtrernents ofth• char￿0& Act 2011 (th 2011 Art). I r¢port In ￿$pe1x ¢1 my eX￿1￿boD ofthe charity's fir￿￿al statanents crrfÈd ojt Socuon 145 of the 2Q11 kt. In GaTrying eut my aKaminatic￿ I have foljwtyj 81 th8 aN)Ikablè Dlredons gfven by lh• C￿nty Commkry6H)n under sxtion 14951(bl dth• 2011 Independent ExarThr8 Sxatament Yourattenlon 25 dra￿ to tho tr￿1 Ihe charty ha6 wepared flnanclal Étattrm•n& ac£tsrdan¢t vAth Aecwntlng and Repcrtiry by Charth prepariryj In XCtydar￿ with the FI￿ar￿la1 R8porfkng Standard applkabf? in the UK and Rapublc of1¥•￿￿￿ IFRS 1021 In velert￿t0 the Accouthg and R8portlng by Charities. Stst•m8nt ol Ro¢KAnThMJnded Pr•th Iwjéd on 1 200S whlch l& r•fwr¢d to the axtènl r¢gul•ikn• but h•8 rthv b•onwlth(tr•A. l undorstand thot thla ha$ done kn orderfrfffjanda statoNthlB to pro￿￿ a trua and falr ￿eW In acwrdance ￿ Gonerw Accwnbng Prxoce re￿￿n9 parfodi bègInnI￿ on or ¥ft•r 1 January 2019. I ￿m￿sted my exarn5nallon. I conth thai no matt*s havo eeffjo to my t￿￿￿ClO￿ tt •xamlnitlon givlng m• tsus• to thal In any matwlal r•yct'. tho a¢¢ounfjng re¢trfdo w•r• not kepl in accorfance ￿th 8ecUw 130 of th0 2011 Art or the finanual siaterntsnts do not aCc￿d those records.. or the finaneA81 s¢&temènis do not cornFty the appI￿able requSrements concérnlng tha form edThtent of a¢Gounts set ¢>Jt In the Chafilies fAtt￿nts aThJ Rep)rtsl RegLrfaVon8 2008 othar than any r•qulr•m•nt Ihat the account• fair l• not• m•ttw o)nWw•d ao part Ot an Ind•p•nd•nl •xamlnatkn. I have rKs concarns and hove aryo$8 no (ther mthr8 In vlth the eMmlnaiJ¢)n tothkh attwffion shts￿d be drawn In thIB rwt kn orl•rto wt49 a pvJperund•rntsndlr¥J orth¢ ffjnand￿ 9lat•rn￿tl to be re8C MrA HemnNng8 6A INC￿8} FCA CTA. Slmpklfts Edwards LLP chart￿ knwntwts. The Summ to(kn4ter Park, nes Hill, xeter. EX2 5WS 31.10.2+

HELE'S EDUCAnoNAL TRUST P•g8 7 8TATEMEprr OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31 PAARCH 2023 Fvnds Investment Income CCLA Depostt Intere¥t Bank Interest ants ReceN•d Sundry Income 76.660 78.660 704 61 72,887 704 61 4C 400 T￿41 79,826 73,290 Expand1￿1• on: Granti CK8rks hOn¢￿M eyns Insuran¢• Rep81rn & Mwnlonanr DGC Fees Indep8nlent Éy3rrth Fe Invéstment manwontdiarg88 Acejued Int￿1 2S.7C6 25,706 3,S29 705 13,485 3.000 2,322 7.525 11781 19,148 5,187 705 11485 3,000 2,322 7.525 11781 8,960 7,748 51 Total 58.074 $8,Q74 41.084 Surklu$lPefidtl ffi fixed 468 A88ets (real￿} AB••ts lunreah•8d) 164.90ei 78,660 {36.2111 1125.6881 23.752 136.2111 1125,8e61 32,206 13.797 155,043 Not In¢om•l<•xwKlltsw•l Tr•nshrs (S4.￿8) 82,￿1 1833171 62,￿1) 1138.1261 2Q1,046 Nèt mowmont lft fund& 27,993 1166.1181 1138,1251 201.046 Ro¢onoliaOon of thJTrJs Total lunds broughlfothord 183,609 2,6E4J.no 2.814.329 2,613,283 Totsl fvnd8 carri￿ tsnhwrd 181,602 2.494,602 2.676,204 2,814.329

HELE'S EDUCATIONAL TRUST BALANCE SHEET ASA T31 MARCH2023 2022 2.494.602 2,660.720 Cash at bank 195.844 228 159.589 195.872 169,589 CuTrfvnt CTedilor8 14270 5.980 14370 W•t wrr•ntM••t• 181.602 1S3.609 N•t •••gts 71.204 aAI4329 Endo¥menl fvnds 94,602 181,802 2,000.720 153,809 2M76.204 2,81V29

HELE'S EDUCATIONAL TRUST Paga 9 NOTES TO THE FINANCIAL STATEME1￿3 KIR THE YEAR ENDED 31 AIARCH 2023 A¢¢ourtlw The accounono ￿kieS are swnmar& bw. Tha rdlda8 haw b•en appled consi8tenlty Ihr0ughc￿t ts yeafvJ ￿ wec8din9 yèai. lal Ba•lB of preparllon The financd stat¢marts haw beffi kY•p•rnd en Ih• b8w• rf fv hk810￿ (ogt ¢¢nv¥th at eost ( ff¢nt of RacLThmend•d Prnth•'. R￿￿1g by Ch•rib"89 IFRS 1021,, and Uptste &Jlkn"n 1., Ihe FIft•r￿ Rewlng Standwd •pplcaW lrt th• Unh•d Klrydom ané R•wbllc ol trelaTh8 IFRS 102)", J TrAlh th• chwluts Ad 2011. knJlthAc¢C￿ttffj St•rhlwdJOJKGerrdtykneF•I F•thl ￿¥PF41•dfrOM 1 J•nuary 2019. The TnMI hA8 t8k•n oflhe th• SORP trdwrluog wtykng FRS 102 Updat• Buuettn 1 notto prepBro a Statemert ￿ cash Fkx. Th• th•n¢lo18tslemrts h•ve d￿rt￿ fromthe Chariuots (Aceounts and Ryort81 Rogu1￿10n 2008 onty10 the exi¢nt req￿rn￿ to pffj￿de 8 true snd tslrview. Th18 deparlfft h•$ Inv¢l¥•J fc110￿￿ the Stat•mènt of R¢commendtsd Pr¥ctso¢ lor chanbt$ 4)rtylw FRS 102 rath•r than the version cf the Stat￿￿￿1 ol Rxtynmanded Pr•th¢• felorr￿ ta lo U)0 RèguhtsonB but has alneè be•n wrylhdrèwn. Ttteflnand￿ ￿8￿Ments are pr•pawd In gt¢rflrvJ, thi¢h Is th4 lun¢tbJnal ofth• Twat Monetary ¥rrK¥unts In lhe•t1kna￿￿I 8tatn•nts ¥r• ro￿¢Jad toth• ne•r•x wund. The f8rtty consltules ¥ benefit •niity as defined by FRS 101 The bu￿88 •r• oflhè ￿th•t b8e•d on tho lèwl ofrls lurth. T￿￿ r•malM a Wng Mnorn. Ibl End0￿enEf￿fftd The fuTrJ ofth• elffj¢onslsts oftho rflhe ch¥lty. ar• held on trust to be Tetsird forthè benèfitolthe¢harity. Tha caFitalfvnds •re reta￿1 te forthe charty. Icl UrY•oIrfe￿fvnd TheGharitV8 fundcorttystsoftrK4efiwKIB thatthe¢orlymay u￿f￿r#S wrp)$88. at it8 ¢ls¢rdcfi. Idl Incoffl• Im¥na ￿ ac￿nt•d10TonU p￿￿ toW lirelatet. (el Exp8ndtiur• Expen¢knJtÈ forrffl an wuba51& Gmts are rwniwj vrt*n a I￿￿1$authL%tstij.

HELE'S EDUCATIONAL TRUST P4g• 10 NOTES TO THE FINANCIAL STATEMENTS {CONllNUEDI FOR THE YEAR ENDED 31 AIARCH 2023 {fj AM•ts •NJ l•bllU•s Investments- al Ma￿et vahJ¢ Cufferrt assets atthg bofcost arn1 notrnth•blevaluo Liabilities at Iheir let￿ment ￿￿e. Igl R•alh4d wd unv•4lW g•kn• •nd Its•￿ on INv••kn•ni ••••ts A r¢olW crf unre￿￿ 9aln crf kés th) w ass•t fomi p•1 olth•knd In tho au•t In￿￿ed Is l¢r In ¢¥se ofan was) hdd. Rea￿￿d goins and bsses onlhe dispos810l investmert a88ets afe Induded in tha ststement of nand4 a¢tiwtkng a$ 4 bne the'gains 3nd losses on ￿ValUa￿ aTrJ Investment a85 dl$kyJspJ•' seckn. TN$ [8 Ihen W xtsydlrrfJ kn th0￿r￿j Ihl VAT The carity is rntTe9istsred for Value Add•J Tax (VAT). In tsso •l•tsrn￿t1. ap￿lea￿le, eyn¢Jituro shovm of VAT. I Inv••lrnonl• Ited knvéiiments ar• atad 8t lak tw¢d ￿ a mwkelvalue derfv￿ from • quthd Stock marktl prlce at thè btiance 8h¢4t dat¢. R•aW and ￿T¥0•￿ed 9gth• 0Th1 k)$8os aro ¢otrt)Ined In the 8FPrcw￿te $￿tic￿ in the SOF D•btoY8 Trade and clher Wa r•cognlsed o1th¢ an￿)urt due oft4r wy tr•d• d￿￿￿nt offared. Prep￿en1$ are v4W at lh¢ kY4p4ld twt ￿￿trade ¢Jo)unts d (kl Ca•h 4t b•nk and In Iw4MI ¢2$h at bank ¥NJ cash in hand indudas¢8sh $hort term bigNy liwld investrnents ith a sh& maturity of three month$ or less Ircrn the date of ae4•isthTr oropeniryJ ofthe deposit cf $imlar accou C¥•dllOrn bMI syo¥S•l¢M Creditorn and pmvisN)ns are reecgnised the tharity hasa p¥a¥entobfigaticffj resultlng from PgBt event that will probatty r88utt in the tran8ferofknd8 lo a third paty and the am￿nt due to ttle the obl¥alion Gan be measwed or eslvnated rdiat4e. Crethtors and prowKsn8 aro normal rtCQgnised ai ther sethement amowrt afterallcthiThJ for any trade d18C￿lS due. (rnl Bw85c fin8rKlal In*lNmenl8 The charity onty has fin8nad asgels h"abth￿ ofa thatqudfy 88 ba8(c financ481 IrAtruments. B3￿C financial iTrstrumeThts ave in1￿"a￿ raW￿d at ￿SaC10n value aTrJ b8equenty measured atthelrsetd￿nent vaue.

HELE'S EDUCATIONAL TRUST Pag• 11 NOTES TO THE FINANCIAL STATEMENTS I¢OlmNUED) FOR THE YEAR EIIDED 31 AIARCH 2023 I t>ants Grants m8d¢ in Ihe year we ￿ 8$ Sh￿ baknw.. 2023 2022 To Indmduals Natlonal Wètw Pc40 780 To 4¢htsd• In th• EX￿ 5,370 1,410 7,000 3,497 7,821 Proliets Rural S￿lI11B￿lI￿9 ProiKts ICT Equipmort E¥￿tI Phon1¢6 Sy8tem Gronts Ra￿MId R•Wng to 2020r21 Cancelled Ir4lThm ICr*Jttor from 2019fdOI 10,580 595 2,861 15801 11,8751 25.708 19.148

HELE'S EDUCATIONAL TRUST Page 12 NOTES TO THE FINANCIAL STATEMEpirs {coKnNUED> FOR THE YEAR ENDED 31 AIARCH 2023 InvaÈkn•nts twst IKlds an investrnrt in $hw in Ihe Charibes Offu'al In¥estrnent Fund. The invesknernt i¥ Trfdkxd on the puLli¥hed mathel price at 31 Marth in each year. C(IF IneE>x•&)• 7256 273 140. 15,3341 $8.xe.I .016 1.W.OIQ 141.4941 CO* al￿3?￿¥ 04• 10&588 179,711 IFPW 138.•7T 1$1. 180282 11J 111.407) 3265 WJ.688 I￿8,334 1.780,074 2.401.W2 IW,7>)

HELE'S EDUCATIONAL TRUST Paga 13 NOTES TO THE FINANCIAL STATEMEKfs (CONllNUED) FOR niE YEAR ENDED 31 MARCH 2023 T8nglblo 17xod a68rt0 LaThl I￿1 t￿ldIng8 Th¢ TrU4t￿ ¥• wn$train¢d by th6 TDJst deed 88 to th8 UBe land can be P￿., nam•ly h¢ol fi¢ld. The land was passed to th&Tnl at no cost Und8rthe hiatoric￿ etsst conven1k￿ thls ¢arrylNd ve. The prosp¢rt ofa tjisposal k8 extremety remote and th Trnstees see no value in inrAJrrirq th• ¢0818 of a formal revaluab.cfi and carryT￿ v8lu• remn¥ £NIL. Unrmlrfctsd En¢bY￿ Tottl 2023 T(th12022 Imiesknents CLNTent 8888ts Curr•nt lobthl•• 1494.602 2,494,602 195,872 114,270 2.676.204 2,880,720 159,589 15.9801 2,814,329 195,872 114,2701 181.802 94,802 Ther•we Th) related pvty trAr￿￿Or￿ that c¢awred dwThJ Ihe y•ar. gACS payment0￿8￿nding & agr•od pwnits tr￿ll 2V2>23 hv• be•n •ddtra to ¢r•Oltor balakKe lorthe year Chq. Rrf. P•y•• D•tall 43rnnt O•tsll )1 Hut Demditkn St Pe HELeS015 Demth"on ol Hut Dérnolition St P•ters 13Win Demoltion t Exa Nurnery 2x 2 ththjmn P44xtyorn￿ schr￿ Yr6 Re8klenti81 Montgc¥))wy Schoc4 3 Days ofrthMJ08 approv¢d sIm￿￿ns Elthvwds 2022123 Independent Examlnallon £4,8ts) £300 £8t)J £eso £2,322 £14.272 Charles &8rley Intln#l Rw•¥aL ehty Raf. Dots11 NIA Charle8 Stanlay Int•r8Bt ReC￿at￿& 28