Huddersfield Town Foundation Limited - Charities report - 21.1
Huddersfield Town Foundation Limited - Charities report - 21.1
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 30 June 2020 |
for |
| Huddersfield Town Foundation Limited |
Huddersfield Town Foundation Limited |
Contents of the Financial Statements |
for the Year Ended 30 June 2020 |
Page |
Report of the Trustees | 1 | to | 8 |
Report of the Independent Auditors | 9 | to | 10 |
Statement of Financial Activities | 11 |
Balance Sheet | 12 |
Cash Flow Statement | 13 |
Notes to the Cash Flow Statement | 14 |
Notes to the Financial Statements | 15 | to | 25 |
Huddersfield Town Foundation Limited (Registered number: 07690182) |
Report of the Trustees |
for the Year Ended 30 June 2020 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2020. The trustees have adopted the provisions of 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) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
| The Huddersfield Town Foundation's vision, mission and values are as follows: |
| Vision |
| Our vision is for a resilient, inclusive community with the Club and Foundation at its very heart. We are: ONE CLUB ONE COMMUNITY. |
| Mission |
| To use the power of the football club to engage, inspire and have a positive impact on our local community. |
| Values |
| - Honesty |
| - Integrity |
| - Passion |
| - Inclusivity |
| - Respect |
Significant activities |
| 2020 turned out to be a year like never experienced and certainly none of the expectations we had set out for it. The global pandemic challenged our operations from the outset, affected our delivery of services provided to the community which included breakfast clubs, health and sports programmes and our ability to fundraise. Despite this, the Foundation trustees and staff were driven to respond to protect and serve the members of the community, ensuring the sustainability and viability of the organisation overall. The Board and staff reacted to deploy fundraising for the organisation and for the focus of the needs of the community. |
| The organisation utilised the Government CJRS which provided great support to the employment of the workforce of the organisation and ensured that the impact on the charity reserves were limited in the area of meeting payroll costs. |
| Since lockdown, the Foundation staff have worked hard to keep services and programmes open as much as possible for participants. When we were forced to cease any face-to-face delivery staff members did not stop work - they undertook to move activities online and create a wide-ranging digital offer. |
| Specifically, the main areas of activities carried out to achieve our aims and objectives were: |
Huddersfield Town Foundation Limited (Registered number: 07690182) |
Report of the Trustees |
for the Year Ended 30 June 2020 |
OBJECTIVES AND ACTIVITIES |
| Trust Fund |
| Enriching lives by supporting local organisations to deliver projects in the community of Kirklees. |
| This has included, but not been limited to: |
| - 41 schools benefitting from our funded Breakfast Clubs. |
| - Committed to providing £140k of funding for the Breakfast Clubs. |
| - £26,252.43 raised for local homeless causes across Kirklees during 'The Big Sleep Out 3'. |
| - When schools were closed and we were unable to deliver our breakfast clubs, with the support of the local Salvation Army, we were able to provide food packages for families in need. |
| Inclusion |
| Recognising and valuing our differences, celebrating our diverse community and bringing people together. |
| This area of work focusses on social inclusion programmes and this year it has included: |
| - 9 volunteers giving their time to support our inclusion programmes. |
| - Provided 269 PL Kicks engagement packs during lockdown 1, delivering 44 hours of online engagement and delivering 6 targeted interventions with two vulnerable young men. |
| - 943 participants engaged in Premier League Kicks provision across Kirklees. |
| - 476 young people with a disability participated in HTF Inclusion sessions. |
| Health |
| Promoting healthy active lifestyles and raising awareness of health issues in community. |
| This remains a relatively new strand of work for the Foundation and we continue to develop partnerships and have commenced activity in a range of programmes. The Foundation developed a partnership with Locala, Public Health and The Premier League to fund and deliver a range of health interventions that are all designed to address key areas of health inequality within Kirklees. Key areas have included: |
| - Weekly open Sporting Memories sessions to support those with Dementia and Alzheimer's. Sessions are also delivered in care homes monthly to support their residents. |
| - Weekly mental health football sessions delivered to 60 people throughout the year. |
| - 24 walking group sessions have been hosted specifically supporting those with a disability to engage in physical activity. |
| Education |
| Raising aspirations by engaging and inspiring individuals to achieve their full potential. |
| This area of work has delivered education programmes since January 2018. During the 2019.20 seasons, this has included but not been limited to: |
| - The provision of a dedicated Huddersfield Town Foundation employee to work within 43 local schools for at least half a day per week delivering literacy, numeracy, PSHE, PE and mentoring or accessing a HTF tournament or collapsed curriculum day. |
| - Our Primary Stars programme has engaged 14 Primary Schools to deliver in total 16 days per academic week for one year. |
| - Provision of a 6 week reading interventions into a further 7 schools who have a FA Wildcats offer with us. |
| - Our Steps to Success programme is delivered in 7 secondary schools which were identified through their Ofsted report as having a need for mentoring young people. |
| - The upskilling of 36 teachers in PE through six weeks of support and CPD. |
Huddersfield Town Foundation Limited (Registered number: 07690182) |
Report of the Trustees |
for the Year Ended 30 June 2020 |
OBJECTIVES AND ACTIVITIES |
| - The delivery of a transition project supporting 13 children from 2 local primary schools in their transition to high school. |
| Sport |
| Providing accessible sporting opportunities and pathways for our local community. |
| This area of work has delivered sport programmes since October 2018. During the 2019.20 seasons, this has included but not been limited to: |
| - 9 FA Wildcats sessions a week providing around 150 girls under the age of 11 with the opportunity to get into football. |
| - 1 Player Development Centre which has supported 18 girls to further develop their football skills. |
| - 8 Tomorrows Terriers sessions per week with over 100 members. |
| - Holiday provision averaging 47 children per day at football camps. |
| - 8 local Junior Football Clubs have purchased a match day experience package. |
Fundraising |
| The Foundation continues to stage fundraising events in-house, in the community and in partnership with local businesses and organisations. The fundraising from this goes directly to fund the Breakfast Clubs and other activities of the Foundation which benefit the local community. It has been a challenging year for fundraising, but we have continued to raise funds through online activities and individual sponsored events. |
Grants Payable |
| During the financial period covered by the accounts the Foundation made funds available for Big Sleep Out Grants. The Big Sleep Out raises funds for homeless causes and charities operating within Kirklees. The Board made a commitment that 100% of proceeds raised would be distributed in grants. A sub committee was formed from members of the Board of Trustees and serviced by the Foundation CEO and Fundraising Co-ordinator. Organisations are solicited to apply for funds. Successful applicants are issued with grant offer letters and are required to complete monitoring returns to demonstrate the impact of the funds. |
| The support to these local organisations makes an immeasurable difference to the lives of children, young people and adults within our community who are the most in need. |
Our Staff |
| None of the achievements would have been possible without the amazing Foundation staff team. They strive every day to help our community be a better place to live, work to integrate while celebrating diversity and planning for the future of the business. In a year of extraordinary challenge, they have gone above and beyond to support whilst not being immune themselves to the challenges of COVID. Their commitment, endeavour, and determination to serve and do the right thing in challenging circumstances has been highly impressive and humbling. |
Huddersfield Town Foundation Limited (Registered number: 07690182) |
Report of the Trustees |
for the Year Ended 30 June 2020 |
OBJECTIVES AND ACTIVITIES |
| Significant events affecting the financial performance |
| The Foundation is reliant for a % of its income from a range of fundraising events. The Board of Trustees supported by the Foundation staff work to ensure that each event is executed to a high standard, with a clear operational plan which includes a detailed business plan to ensure all costs are factored and accounted for. For each event delivered there must be a minimum return to ensure that each event is not only financially viable but also time efficient. The Board have made steps in the past 12 months to have a more detailed strategy in place which they will continue to build upon to ensure that fundraising levels can be maintained. |
| The Foundation also undertook a staffing restructure during June and July 2019 which ensured that there was more definition in the roles and levels within the Foundation. The Foundation will need to keep building upon this and to also develop a 5 year strategy plan. Some of the key aims of the strategy will be to: |
| - Encourage more fans and local people to support and engage with initiatives |
| - Increase the number of initiatives delivered by the Foundation across all themes |
| - Improve our communication, particularly the digital offer to grow our audience |
| - Develop a wider range of partners and stakeholders to support existing projects but also new initiatives |
STRATEGIC REPORT |
Reserves policy |
| The Trustee Board have assessed the financial obligations of the charity and have determined that the level of unrestricted and non-designated reserves required by the charity equates to six months' expenditure. These reserves should not be held in fixed assets. At the year-end total reserves amounted to £412,906 (2019 - £552,301) which the Trustees agree was an acceptable level. The reserves policy and fund are reviewed every six months. |
Future plans |
For 2021 the focus will be on the return to a full delivery programme for the organisation, following the impact of COVID-19, the review of the strategy and the development of a new 5-year strategic plan to drive us forward and position the organisation well for future success and development. |
As we continue to move forward great uncertainties remain which include understanding the true extent to which the pandemic has affected everyone in our community with both mental and physical health, the loss of income that would have been generated and the capacity to raise funds going forward. The Foundation has every intention to steer a steady course whilst continuing to reinvent the organisation for the post covid era. |
The Foundation is working to achieve greater autonomy over the management of its finances and has put into place new infrastructure systems around payroll, accounting package and staff resource to ensure this can develop. Other systems and infrastructure are being developed in other areas of the business which included Sports Alliance, a CRM and donor database which will allow the Foundation to communicate its work to a broader audience. |
The Board of Trustees are seeking to gain greater diversity and representation and have identified this as a priority for 2021 following an updated Skills & Diversity Audit. |
As we move into what will be our 10th year of operations, we plan to celebrate the achievements of the past and work to produce more for the future. There will be a range of events to celebrate and new programmes will also come on board. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
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. |
Huddersfield Town Foundation Limited (Registered number: 07690182) |
Report of the Trustees |
for the Year Ended 30 June 2020 |
The liability of the members is limited to £10 each. |
The organisation has undertaken a review of its governing documents: it's Memorandum and Articles of Association and updated copies will be filed in 2021 with the relevant statutory bodies. |
To allow greater effectiveness of the operations of the Board a Fundraising & Engagement subcommittee and a Finance, Audit and Risk subcommittee have been established. |
Membership entails Trustees as well as appropriately skilled independent individuals sourced by the Board. |
The Board continue to monitor a detailed risk register identifying actions that can mitigate the risk and ensure these are activated. |
Recruitment and appointment of new trustees |
| The trustees have been appointed in accordance with the charity's Articles of Association, and there are currently eight trustees. |
Organisational structure |
| The Board of Trustees, which must consist of not less than three members or 1/10th of total membership maximum, administer of the Charity by providing the overall strategic direction and ensuring the highest standards of governance are maintained throughout all aspects of the operation. |
| During the year under review the day to day running of the Charity was delegated to the Chief Executive Officer (CEO) of the Foundation, Siobhan Atkinson who joined the organisation in January 2019. The CEO discharges her responsibilities through the Board. |
| The Trustees would like to thank all Foundation staff for their efforts throughout the year. |
| A review system is in place to monitor the income, expenditure and performance of the Charity, ensuring that appropriate management information is produced on a regular basis including an annual budget, which is approved by the Trustees, regular consideration of financial results and identification and management of risks. Finance is a key agenda item discussed at every board meeting. Board meetings are held every two months. |
| Key management personnel remuneration is determined by the Trustees and the CEO. |
Induction and training of new trustees |
| Most trustees are familiar with the aims and objectives of the Charity when they are invited to join the Board. However, it is usual for any new Trustee to attend the head office of the Charity on more than one occasion in order to familiarise themselves with all staff and all aspects of the Charity. A range of induction documents are provided to new Trustees. These include the Memorandum and Articles of Association, a copy of staffing structure, programme delivery background, accounts and scheme of delegation. |
| A new process for induction was prepared and utilised for the first time in March 2020 to induct three new trustees. For newly appointed Trustees they will receive an induction meeting with the Chair of Trustees and then spend time with the charity's CEO and Senior management team, observing how the charity's objectives are achieved. Should any additional specialised training be required then appropriate training arrangements are in place. All Trustees are required to undertake annual safeguarding training. |
Huddersfield Town Foundation Limited (Registered number: 07690182) |
Report of the Trustees |
for the Year Ended 30 June 2020 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Risk management |
| The Trustees review the major risks to which the Charity is exposed, in particular those relating to the operations and finances and are satisfied that systems and procedures are in place to mitigate any exposure. The principal risks identified by the Trustees are the loss of key personnel, loss of Premier League funding and the execution of the fundraising strategy to provide funding for the Breakfast Clubs. |
| These are managed via the Risk Framework review process which is reviewed at every Board meeting. |
| In addition, procedures have been implemented to ensure compliance with health and safety of staff and all those who participate in the scheme. The Charity has a designated Safeguarding officer who meets regularly with HTAFC Safeguarding leads to review all policies and working practises. The Charity utilises the online Toottoot system to record and monitor all safeguarding incidents. |
Internal Controls |
The internal control system ensures that income, expenditure and performance of the Charity is carefully monitored and is designed to provide reasonable assurances against material misstatement and loss, including: |
- An Annual Budget approved by the Trustees |
- Regular consideration of financial results |
- Identification and management of risks |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Huddersfield Town Foundation Limited (Registered number: 07690182) |
Report of the Trustees |
for the Year Ended 30 June 2020 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Auditors |
Chartered Accountants and Statutory Auditors |
Suite 1 |
The Riverside Building |
Hessle |
East Yorkshire |
HU13 0DZ |
Solicitors |
Chadwick Lawrence |
8 - 16 Dock Street |
Leeds |
LS10 1LX |
Bankers |
Lloyds Bank plc |
1 Westgate |
Huddersfield |
HD1 6PX |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
| The trustees (who are also the directors of Huddersfield Town Foundation Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
| Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
| - | select suitable accounting policies and then apply them consistently; |
| - | observe the methods and principles in the Charity SORP; |
| - | make judgements and estimates that are reasonable and prudent; |
| - | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
| The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| In so far as the trustees are aware: |
| - | there is no relevant audit information of which the charitable company's auditors are unaware; and |
| - | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
Huddersfield Town Foundation Limited (Registered number: 07690182) |
Report of the Trustees |
for the Year Ended 30 June 2020 |
AUDITORS |
The auditors, Harris Lacey and Swain, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on |
Report of the Independent Auditors to the Members of |
Huddersfield Town Foundation Limited |
Opinion |
| We have audited the financial statements of Huddersfield Town Foundation Limited (the 'charitable company') for the year ended 30 June 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the charitable company's affairs as at 30 June 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: |
- | the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or |
- | the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
Other information |
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Huddersfield Town Foundation Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of trustees |
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. |
Our responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. |
Use of our report |
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants and Statutory Auditors |
The Riverside Building |
Hessle |
East Yorkshire |
HU13 0DZ |
Huddersfield Town Foundation Limited |
Statement of Financial Activities |
for the Year Ended 30 June 2020 |
2020 | 2019 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 4 |
( | ) |
Other trading activities | 3 |
Total |
EXPENDITURE ON |
Raising funds | 5 |
Charitable activities | 6 |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 552,301 |
Huddersfield Town Foundation Limited (Registered number: 07690182) |
Balance Sheet |
30 June 2020 |
2020 | 2019 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 12 |
CURRENT ASSETS |
Stocks | 13 |
Debtors | 14 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 15 | ( | ) | ( | ) | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 16 |
Unrestricted funds | 327,551 | 221,423 |
Restricted funds | 330,878 |
TOTAL FUNDS | 552,301 |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Huddersfield Town Foundation Limited |
Cash Flow Statement |
for the Year Ended 30 June 2020 |
2020 | 2019 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 145,517 | 398,974 |
Net cash provided by operating activities | 145,517 | 398,974 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (2,189 | ) | (15,900 | ) |
Net cash used in investing activities | (2,189 | ) | (15,900 | ) |
Change in cash and cash equivalents in the reporting period | 143,328 | 383,074 |
Cash and cash equivalents at the beginning of the reporting period | 647,775 | 264,701 |
Cash and cash equivalents at the end of the reporting period | 791,103 | 647,775 |
Huddersfield Town Foundation Limited |
Notes to the Cash Flow Statement |
for the Year Ended 30 June 2020 |
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2020 | 2019 |
£ | £ |
Net income for the reporting period (as per the Statement of Financial Activities) | 132,900 | 139,395 |
Adjustments for: |
Depreciation charges | 14,477 | 12,268 |
Decrease in stocks | 14 | - |
Decrease in debtors | 67,853 | 149,339 |
(Decrease)/increase in creditors | (69,727 | ) | 97,972 |
Net cash provided by operations | 145,517 | 398,974 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.7.19 | Cash flow | At 30.6.20 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 647,775 | 143,328 | 791,103 |
647,775 | 143,328 | 791,103 |
Total | 647,775 | 143,328 | 791,103 |
Huddersfield Town Foundation Limited |
Notes to the Financial Statements |
for the Year Ended 30 June 2020 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Critical accounting judgements and key sources of estimation uncertainty |
| Accounting estimates, by definition, will often vary from the actual results. They are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. |
| Useful economic lives tangible assets |
| The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets, which are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. |
| Impairment of debtors |
| The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment, management considers factors including the ageing profile and recent correspondence with the debtors and historical experience. |
| Revenue recognition |
| For revenue related to grants and service level agreements entitlement to income is judged on a case by case basis as to whether this occurs on receipt of the grant or is subject to either time or performance-related conditions. Income is deferred where it is judged that the delivery of services relates to future periods, the income is subject to performance-related conditions that have not yet been met or there are other terms and conditions that prevents entitlement to the income. |
Financial instruments |
The charitable company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments. |
Short term debtors are measured at transaction price, less any impairment. Short term creditors are measured at the transaction price. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Income is the amount derived from the provision of services and stated after trade discounts. |
Expenditure |
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. |
Huddersfield Town Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
1. | ACCOUNTING POLICIES - continued |
Expenditure |
Due to the nature of the grants received by the charity all costs, including overheads, have been directly allocated to activities. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Improvements to property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Company information |
| The company is a private company limited by guarantee and is incorporated in England and Wales. The address of its registered office is The John Smith's Stadium, Stadium Way, Leeds Road, Huddersfield, HD2 1YY and the company's trading office is Leeds Road Sports Complex/Playing Fields, Leeds Road, Huddersfield, HD2 1YY. The company's registered number is 07690182. |
Huddersfield Town Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
2. | DONATIONS AND LEGACIES |
2020 | 2019 |
£ | £ |
Donations |
Grants |
Funding of support costs | - | 57,116 |
3. | OTHER TRADING ACTIVITIES |
2020 | 2019 |
£ | £ |
Fundraising events |
Trading income | - | 7,500 |
4. | INCOME FROM CHARITABLE ACTIVITIES |
2020 | 2019 |
Premier |
League |
and other | Total | Total |
Community | contracts | activities | activities |
£ | £ | £ | £ |
School income | 20,731 | 75,625 | 96,356 | 117,784 |
KAL: profit share | 16,711 | - | 16,711 | 35,290 |
Furlough grant | - | 28,369 | 28,369 | - |
Grants | - | 512,085 | 512,085 | 370,833 |
37,442 | 616,079 | 653,521 | 523,907 |
5. | RAISING FUNDS |
Raising donations and legacies |
2020 | 2019 |
£ | £ |
Sundries |
Staff costs | 21,773 | 55,285 |
Event costs | 25,928 | 45,474 |
49,184 | 107,128 |
Huddersfield Town Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
6. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities |
Direct | (see note |
Costs | 7) | Totals |
£ | £ | £ |
Supporting young people in West Yorkshire | 211,323 | 2,000 | 213,323 |
Community | 33,591 | - | 33,591 |
Premier League and other contracts | 600,149 | - | 600,149 |
845,063 | 2,000 | 847,063 |
7. | GRANTS PAYABLE |
2020 | 2019 |
£ | £ |
Supporting young people in West Yorkshire | 2,000 | 21,473 |
The total grants paid to institutions during the year was as follows: |
2020 | 2019 |
£ | £ |
Grants | 2,000 | 21,473 |
The Charity provided the administration and management of the HTF Go for it Grants, a grants scheme that provided backing for small community-based projects. The primary aim of the Fund was to support projects that were original and innovative and provided long-term benefits to young people and the local community. Throughout the 2019-2020 season the Huddersfield Town Foundation invested £2,000 (2018-2019: £21,473) into the local community groups through grant donation partnership. |
All of the above grants payable have been made to institutions and none are individually material. |
8. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2020 | 2019 |
£ | £ |
Depreciation - owned assets |
Accountancy fees | 2,352 | 2,500 |
Audit fees | 7,840 | 6,700 |
Huddersfield Town Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
9. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 30 June 2020 nor for the year ended 30 June 2019. |
Trustees' expenses |
| There were no trustees' expenses paid for the year ended 30 June 2020 nor for the year ended 30 June 2019. |
10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
( | ) | ( | ) |
Other trading activities |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( | ) |
Transfers between funds | 35,212 | (35,212 | ) | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward |
As previously reported |
Prior year adjustment | ( | ) | ( | ) |
As restated |
Huddersfield Town Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
TOTAL FUNDS CARRIED FORWARD | 221,423 | 330,878 | 552,301 |
11. | STAFF COSTS |
30.6.20 | 30.6.19 |
£ | £ |
Wages & salaries | 467,026 | 465,692 |
Social security | 39,725 | 34,362 |
Pension costs | 15,167 | 11,345 |
521,918 | 511,399 |
The average number of employees during the year was 30 (2019 - 30). |
No employees received emoluments in excess of £60,000. |
12. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2019 |
Additions |
At 30 June 2020 |
DEPRECIATION |
At 1 July 2019 |
Charge for year |
At 30 June 2020 |
NET BOOK VALUE |
At 30 June 2020 |
At 30 June 2019 |
Huddersfield Town Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
13. | STOCKS |
2020 | 2019 |
£ | £ |
Stocks |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
Other creditors |
Accruals and deferred income |
| Included within creditors above is deferred income totalling £177,264 (2019 - £118,630). The movement in the year is as follows: |
| Charitable activities | Total |
| £ | £ |
| At 1 July 2019 | 118,630 | 118,630 |
| Released from previous years | (118,630 | ) | (118,630 | ) |
| Deferred in the current year | 177,264 | 177,264 |
| At 30 June 2020 | 177,264 | 177,264 |
| Incoming resources have only been deferred in respect of monies received in advance of the services being delivered under a services agreement. |
Huddersfield Town Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
16. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.7.19 | in funds | 30.6.20 |
£ | £ | £ |
Unrestricted funds |
General fund | 221,423 | 106,128 | 327,551 |
Restricted funds |
Big Sleep Out | 46,959 | (21,774 | ) | 25,185 |
Pedal For Pounds | 70,424 | (53,929 | ) | 16,495 |
Continuous Improvement Fund | 90,216 | (25,573 | ) | 64,643 |
Inclusion | 73,123 | 22,875 | 95,998 |
Health | 1,629 | 34,950 | 36,579 |
Education | 48,527 | (30,093 | ) | 18,434 |
Children in Care | - | 9,107 | 9,107 |
Heritage | - | 27,582 | 27,582 |
NCS | - | 63,627 | 63,627 |
26,772 |
TOTAL FUNDS | 132,900 | 685,201 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 424,213 | (318,085 | ) | 106,128 |
Restricted funds |
Big Sleep Out | 26,290 | (48,064 | ) | (21,774 | ) |
Pedal For Pounds | 25,264 | (79,193 | ) | (53,929 | ) |
Continuous Improvement Fund | - | (25,573 | ) | (25,573 | ) |
Inclusion | 158,705 | (135,830 | ) | 22,875 |
Health | 77,048 | (42,098 | ) | 34,950 |
Education | 143,170 | (173,263 | ) | (30,093 | ) |
Children in Care | 11,357 | (2,250 | ) | 9,107 |
Heritage | 43,000 | (15,418 | ) | 27,582 |
NCS | 120,100 | (56,473 | ) | 63,627 |
( | ) | 26,772 |
TOTAL FUNDS | ( | ) | 132,900 |
Huddersfield Town Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
16. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Prior | Net | Transfers |
year | movement | between | At |
At 1.7.18 | adjustment | in funds | funds | 30.6.19 |
£ | £ | £ | £ | £ |
Unrestricted funds |
General fund | 221,034 | - | (34,823 | ) | 35,212 | 221,423 |
Restricted funds |
Big Sleep Out | - | - | 46,959 | - | 46,959 |
Pedal For Pounds | - | - | 105,636 | (35,212 | ) | 70,424 |
Continuous Improvement Fund | 55,598 | - | 34,618 | - | 90,216 |
Inclusion | 114,644 | (35,759 | ) | (5,762 | ) | - | 73,123 |
Health | - | - | 1,629 | - | 1,629 |
Education | 70,279 | (12,890 | ) | (8,862 | ) | - | 48,527 |
240,521 | (48,649 | ) | 174,218 | (35,212 | ) | 330,878 |
TOTAL FUNDS | 461,555 | (48,649 | ) | 139,395 | - | 552,301 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 328,423 | (363,246 | ) | (34,823 | ) |
Restricted funds |
Big Sleep Out | 47,483 | (524 | ) | 46,959 |
Pedal For Pounds | 145,406 | (39,770 | ) | 105,636 |
Continuous Improvement Fund | 75,000 | (40,382 | ) | 34,618 |
Inclusion | 233,378 | (239,140 | ) | (5,762 | ) |
Health | 8,208 | (6,579 | ) | 1,629 |
Education | 118,325 | (127,187 | ) | (8,862 | ) |
Fundraising Support Costs | 57,116 | (57,116 | ) | - |
684,916 | (510,698 | ) | 174,218 |
TOTAL FUNDS | 1,013,339 | (873,944 | ) | 139,395 |
Description as to the purpose of each fund |
Unrestricted funds represent resources available at the trustees' discretion in meeting the charitable objects of the charity. |
Big Sleep Out funds raised are for supporting the causes of homeless people in the local community. |
Huddersfield Town Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
16. | MOVEMENT IN FUNDS - continued |
Pedal For Pounds funding is used to support breakfast clubs run by the Huddersfield Town Foundation and other local charities. Amounts transferred from this fund to the general fund in the year relate to those amounts raised for breakfast clubs. |
Continuous Improvement Fund is used to fund improve the organisation, business and infrastructure of the charity. |
Inclusion funding is to be used for recognising and valuing our differences, celebrating our diverse community and bringing people together. |
Health funding received is for promoting healthy active lifestyles and raising awareness of health issues in the community. |
Education funding is to be used in order to raise aspirations by engaging and inspiring individuals to achieve their full potential. |
Children in Care funding supports young people in Kirklees transitioning from the care system to independent living. We support them in a variety of ways through developing confidence, employability skills and building resilience. |
The Foundation is acting as custodian of the Heritage fund on behalf of the Huddersfield Town Supporters Association who will deliver a heritage project to celebrate winning three league titles in the 1920s. |
NCS supports and develops personal and social development for 16 and 17 year olds with three main objectives; social mixing, social mobility and social engagement. |
17. | RELATED PARTY DISCLOSURES |
| During the year, the charity had transactions with the following related parties. |
| D Hoyle |
| Trustee |
| During the year donations totalling £nil (2019 - £57,116), including the related gift aid amounts, were due. Payments of £8,158 (2019 - £232,000) were received from D Hoyle during the year with a gift aid amount of £1,040 (2019 - £58,000) included within other debtors, along with the gift aid amount of £58,000 relating to 2019 also included within other debtors. At the year end £nil (2019 - £5,198) of donations and the related gift aid is due and is included within other debtors. |
| D Hoyle resigned as a director of the charity on 17 March 2020. |
| J Hoyle |
| Trustee |
| During the year donations totalling £3,000 (2019 - £nil) were received from J Hoyle, a director/trustee of the charity as at 30 June 2020. |
| The Huddersfield Town Association Football Club Limited (HTAFC) |
| A company related by virtue of the following common directors/trustees: |
| M Devlin |
| P J Hodgkinson |
Huddersfield Town Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
17. | RELATED PARTY DISCLOSURES - continued |
| J A Hough |
| During the year HTAFC paid expenses on behalf of the charity totalling £549,415 (2019 - £500,642) and net repayments totalling £555,279 (2019 - £450,351) were made during the year. The charity raised sales invoices to HTAFC during the year totalling £1,000 and purchases were made from HTAFC totalling £26,174. HTAFC collected donations of £16,051 (2019 - £13,942) on behalf of the charity. At the year end an amount totalling £21,853 (2019 - £58,391) is due to HTAFC and is included within other creditors. |
| During the year, a total of key management personnel compensation of £71,223 (2019 - £47,990) was paid. |