Finances 2023/24

Financial Summary

Our total income for the year to 31 August 2024 was £509k, £64k above the original budget. This included income from schools of £409k, LA linked income of £84k, £11k STEM funding to support subject networks and £4k from Hounslow Promise for the Christmas present campaign. In addition to membership fees of £171k, income from schools comprised the following work streams: £150k Fair Access, £59k Primary Peer Challenge and £29k HEP training and CPD. LA income comprised £45k VRU grant, £25k Joint Practice Development and £14k income for administration of Specialist Home Engagement Leads (SHEL) relating to the prior year.

Costs of sale were £511k, comprising staff costs of £191k, partnership meeting costs of £24k and £296k that is directly attributable to specific income streams. This was an increase of £9k against the budget.

General overheads were £43k, £3k under budget due to savings and some unspent contingency.

The full-year position is a net deficit of £45k, against a budgeted deficit of £103k. Unspent balances of £96k are held as ring-fenced funds within the overall carry forward of £265k. These include VRU grant, Fair Access income, Training and CPD income and Primary to Secondary Transitions funding, which we plan to spend on relevant projects over the next year. Unrestricted reserves, after eliminating ring-fenced funds, are £169k, a surplus of £21k against the budget.

The majority of HEP income streams are exempt from corporation tax and we do not expect to incur a tax liability for the year ended 31 August 2024.

Note: These figures are based on those to be included in the full, audited accounts for the period ended 31 August 2024. The full Annual Report and Accounts will be made available via the HEP website once published.

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What our members say

Develop your A Level Teaching – “A much appreciated forum to apply pedagogy to a subject specific domain, with such rich professional talk after the keynotes in the Economics breakout session.”

Ofsted Inspection Training – "Four days well spent! Supporting the development of our school under the guidance of a skilled trainer with a wealth of experience across the primary range was invaluable."

Primary Subject Networks – "The content in the sessions covers all aspects of high quality practice in Maths and it makes me reflective on my practice in class and how I lead and help develop other teachers."

Contact us

The success of the Hounslow Education Partnership depends, in part, on good communication so please do get in touch to give us your feedback or about anything else you would like to discuss.

Email: info@hounsloweducationpartnership.co.uk

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