Financial Summary
Financial Report 2025
Our total income for the year to 31 August 2025 was £447k, £65k over the budget. This included income from schools of £347k, LA linked income of £95k, £3k from Hounslow Promise for the Christmas present campaign and £2k STEM funding to support subject networks. In addition to membership fees of £172k, income from schools included £118k Fair Access and £57k for Primary Peer Challenge. LA income comprised £45k VRU grant and £50k to support Joint Practice Development.
Costs of sale were £382k, comprising staff costs of £172k, partnership meeting costs of £19k and £191k that is directly attributable to specific income streams. This was down £81k against the budget.
General overheads were £45k, £1k over budget.
The full-year position is a net surplus of £20k, against a budgeted deficit of £125k. Unspent balances of £126k are held as ring-fenced funds within the overall carry forward of £285k. These include Fair Access income, VRU grant and Training and CPD monies, which we plan to spend on relevant projects over the next year. Excluding unspent ring-fenced funds, the in-year position is a deficit of £106k, which is a £19k improvement against the budget. The uncommitted carry forward is £159k which is £43k higher than planned, partly due to the improved in-year position and partly because brought forward reserves were higher than anticipated when we set 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 2025.
Note: These figures are based on those to be included in the full, audited accounts for the year ended 31 August 2025. The full Annual Report and Accounts will be made available via the HEP website once published. See below for link to Annual Report and Accounts filed for 2024.
Annual Report and Accounts 2024
HEP board meeting finance schedule for 2025/26
- AGM planning – Sept board meeting
- Commercial Strategy for 2026-29 – Dec board meeting
- Draft 3 year budget – Feb board meeting
- Approval of budget – March board meeting
- Preview of 26/27 planning – June board meeting














































































