| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| The Hereford Academy |
| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| The Hereford Academy |
| The Hereford Academy (Registered number: 06479771) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 |
| The Hereford Academy |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 2 Wyevale Business Park |
| Kings Acre |
| Hereford |
| Herefordshire |
| HR4 7BS |
| The Hereford Academy (Registered number: 06479771) |
| Report of the Directors |
| for the Year Ended 31 August 2024 |
| The directors present their report with the financial statements of the company for the year ended 31 August 2024. |
| REVIEW OF BUSINESS |
| The Hereford Academy includes "The Hereford Diocesan Board of Education's Academy Endowment Trust" which was established under a deed of gift and declaration of trust made on 26 August 2008 between: |
| The Secretary of State for Children Schools and Families |
| The Hereford Academy |
| The Diocesan Board of Education (the sponsor) |
| The Hereford Academy is the trustee of the above named Endowment Fund |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report. |
| MEMBERS' LIABILITY |
| Each member of the company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| The Hereford Academy (Registered number: 06479771) |
| Income Statement |
| for the Year Ended 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ |
| TURNOVER |
| Administrative expenses | ( |
) | ( |
) |
| (48,547 | ) | (43,055 | ) |
| Gain/loss on revaluation of investments | 3,129 | (19,455 | ) |
| OPERATING DEFICIT | ( |
) | ( |
) |
| Income from fixed asset investments |
| SURPLUS/(DEFICIT) BEFORE TAXATION | ( |
) |
| Tax on surplus/(deficit) | ( |
) |
| SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR | ( |
) |
| The Hereford Academy (Registered number: 06479771) |
| Balance Sheet |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 6 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| RESERVES |
| Income and expenditure account | 1,562,333 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| The Hereford Academy (Registered number: 06479771) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| The Hereford Academy is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Investments |
| Investments are stated at market value at the balance sheet date. The Income Statement includes the net gains and losses arising on revaluations and disposals throughout the year. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | EXCEPTIONAL ITEMS |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Dividend Income |
| 5. | PRIOR YEAR ADJUSTMENT |
| The Hereford Academy (Registered number: 06479771) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1 September 2023 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| If the fixed asset investments had not been revalued they would have been included at the following historical cost: |
| 31.08.24 | 31.08.23 |
| £ | £ |
| Cost | 1,553,000 | 1,550,144 |
| Fixed asset investments were valued on an open market basis on 31 August 2024 by Aberdeen Standard Capital Limited. |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 8. | RELATED PARTY DISCLOSURES |
| During the year, The Hereford Academy transferred £20,000 (2023: £16,000) to Diocese of Hereford Multi Academy Trust. At the year end £20,000 (2023: £16,000) was due to the Diocese of Hereford Multi Academy Trust. |
| A Teale a director of The Hereford Academy (appointed 4th February 2025), is appointed as a director of the Diocese of Hereford Multi-Academy Trust. |
| A Smith a director of The Hereford Academy, is appointed as a director of the Diocese of Hereford Multi-Academy Trust. |
| 9. | MEMBERS LIABILITY |
| Each member of the company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member. |