THE_PAUL_HUNTER_FOUNDATIO - Accounts

The trustees present their report and financial statements for the year ended 28 February 2019.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

The foundation was established in memory of Paul Hunter, with the aim of giving disadvantaged, able bodied, and disabled youngsters an opportunity to play snooker. The specific aims of the charity are to fund local snooker activities across the UK and Ireland. The primary target is developing the interest of snooker in the 8-12 years old age bracket, and specifically targeting under privileged and disabled children in their infancy of playing snooker.

Locally qualified coaches and clubs apply for financial grants to the foundation, and in turn they provide coaching sessions within their own communities at existing facilities such as snooker or social clubs. Each scheme is assessed on its individual merits.

The organisation intends to make facilities available for disabled children so they also have an opportunity to participate and use the facilities, thereby further reducing social exclusion in those areas.

Part of the coaching/training sessions that the organisation will provide will focus on educating children on the dangers of becoming involved in anti-social behaviour (e.g. drink, drugs) and on wider social issues (such as bullying and racism).

It is hoped that by educating children and raising their awareness of these issues, it will lead to improvements in their conditions of life, will have a positive impact on the community and will be in the interests of public welfare.

The foundation will be working closely with the Police and Local Communities throughout the UK.

The Trustees have had due regard to guidance published by the Charity Commission on public benefit.

The Paul Hunter Foundation continues to strive towards its goal of giving disadvantaged, able bodied and disabled youngsters an opportunity to play snooker.

Across many regions of the UK, young people have been given the opportunity to engage in healthy activity and improve social behaviour by playing snooker and learning about the sport. This has been the Foundation's key goal since it was established in Paul Hunter's name in 2006.

The support of the WPBSA, World Snooker, NLTG, BBC and a number of snooker professionals has been invaluable, both in the context of delivery of the PHF activities, and as role models for the youngsters

The trustees consider that the performance for the year and the year end position are satisfactory.

Reserves policy

At the present time, the charity has accumulated reserves of just under £20,000. The trustees are regularly reviewing the

level of income and expenditure in conjunction with the projects being supported and considered. The trustees will consider the policy for retaining general funds to meet the expenses of the charity in due course. Funding levels fell during 2019, but the charity was still able to continue it’s activities by using reserves.

Risk evaluation

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Recruitment and appointment of new trustees

The existing trustees make appointments of new trustees when deemed necessary in order to perform the charity's objectives effectively.

Induction and training of trustees

Potential trustees are selected on the basis of their relevant background and experience, and are invited to attend a number of meetings as a guest before being formally appointed by the board of trustees.

Related party transactions

Governance costs include £720 (2018: £720) in respect of accountancy charges from the reporting accountants, Baldwins, a company in which R Anderson is interested as a director.

The trustees' report was approved by the Board of Trustees.

I report to the trustees on my examination of the financial statements of The Paul Hunter Foundation (the charity) for the year ended 28 February 2019.

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

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:

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

the financial statements do not accord with those records; or

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 28 February 2019.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Paul Hunter Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 13 Pool Croft, Sale, Cheshire, M33 2LF, England.

The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

PHF Road shows and academy

Sundry expenses

Actual

None of the trustees (or any persons connected with them) received any remuneration, expenses or benefits from the charity during the year.

Governance costs include £720 (2017: £720) in respect of accountancy charges from the reporting accountants Baldwins, a company in which R Anderson is a director.