Huddersfield Town Foundation - Charities report - 22.2

REGISTERED COMPANY NUMBER: 07690182 (England and Wales)

REGISTERED CHARITY NUMBER: 1146501

Report of the Trustees and

Financial Statements for the Year Ended 31 August 2022

for

Huddersfield Town Foundation

Page

Report of the Trustees

1

to

7

Report of the Independent Auditors

8

to

11

Statement of Financial Activities

12

Balance Sheet

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

16

to

26

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 31 August 2022. 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:

The Foundation's mission: -

Tackle the consequences of inequality by working to provide positive opportunities and support to the community of Kirklees.

This operates alongside the vision: -

Create lifelong opportunities for people in Kirklees to feel safe, healthy, and included as part of a community.

The values, behaviours and attitudes of the staff who work for the Foundation are reflected and summarised by being:

- Collaborative

- Open and brave

- Imaginative and inspiring

- Consistent and determined

- Caring and respectful

Significant activities

The period 2021-22 remained impacted by the COVID-19 pandemic but this was at a much-reduced level compared to the 2020-21 financial period. The Huddersfield Town Foundation continued to operate within government requirements and guidelines in relation to delivery of activities and made a significant attempt to return delivery to pre-pandemic levels. The impact of COVID-19 rules being relaxed enabled the Foundation to re-establish face to face delivery, return to a wider range of fundraising events and to move relationships established during COVID to become more impactful with delivery being allowed.

The Foundation continued to deliver its work in many communities and was agile in the way it chose to re-engage with face-to-face activity whilst also maintaining elements of online delivery. This hybrid approach has supported the Foundation to work smarter in meeting the differing needs of different groups within our community to ensure they are not excluded and help to tackle inequalities.

During the year, the Foundation launched its new Strategy having used the COVID period to develop this. The new mission, vision, and values are now fully embedded across our work and continually shared with new stakeholders. The timing of the development of the Strategy ensured that the organisation has been able to fully understand the shifts in priorities for the local community and the wide range of stakeholders.

The Foundation hasn't felt any direct impact as a result of Brexit. Workforce is very local, and the Foundation does not recruit from overseas or engage in sponsorship of visas. Some minimal impact for suppliers of goods to the Foundation has meant we have either seen a rise in costs of products or delays in receiving goods.

Post pandemic income from grants and programmes has been maintained and staff resource was unaffected with the organisation not required to make any redundancies during the period of lockdown. It was also the first year that the timeframe of the Foundation financial year was aligned to key funding payments.

The area affected most by the pandemic remains general fundraising as it has taken a period of time to re-establish our events and to relaunch the message around the Foundation being the Charity of choice for the Huddersfield Town Football Club. The Foundation held strong reserves going into the pandemic and during the period of COVID-19 did not have to exhaust these.

During the reporting period, the Foundation inherited a portfolio of investments largely within unit trusts and collective investment schemes along with a cash sum which has increased unrestricted income. If these non-recurring elements of income are removed, the Foundation still made a modest surplus demonstrating diligent management of financial resource. The principle of careful financial management will continue to be applied to protect and negate impact should a significant level of programme funding be lost.

The new strategy for the Foundation established a new mission, vision and values as well as setting some key objectives. The strategy was launched publicly in January 2022 alongside a new logo and image for the organisation which has provided greater clarity over the relationship and connection to Huddersfield Town Football Club.

The Foundation's mission: -

Tackle the consequences of inequality by working to provide positive opportunities and support to the community of Kirklees.

This operates alongside a new vision: -

Create lifelong opportunities for people in Kirklees to feel safe, healthy, and included as part of a community.

The values, behaviours and attitudes of the staff who work for the Foundation are reflected and summarised by being:

- Collaborative

- Open and brave

- Imaginative and inspiring

- Consistent and determined

- Caring and respectful

The Foundation will aim to make an impact by delivering projects and programmes that meet at least one of the following criteria:

- Learning and education

- Health and healthy behaviours

- Safe spaces and places

- Movement and activity

The impact of the Learning and Education programmes saw achievements including:

- The provision of dedicated Town Foundation employees to work in local primary and secondary schools delivering a range of interventions including literacy, numeracy, PSHE, PE and mentoring.

- Delivery of 10 Anti-Discrimination workshops with schools in our Primary Stars programme

- 250 young people engaged in Steps to Success programme with 67 actively engaged in completing a social action project.

- 20 young people enrolled on the Foundation Degree completing 1620 hours of teaching to develop their knowledge.

- 190 young people graduated from our NCS Summer programme contributing over 420 hours to volunteering and social action projects across North Kirklees.

The impact of the Health and Healthy Behaviours programmes saw achievements including:

- 40 schools continued to benefit from the HTF Early Kick Off Breakfast Clubs with over 2 million breakfasts now being served since their inception.

- Weekly Sporting Memories sessions to support those with Dementia and Alzheimer's were delivered reaching in excess of 150 participants. The programme was also delivered in care homes monthly to support their residents.

- Weekly Mental health football sessions engaged 70 unique participants throughout the year.

The impact of the Safe Spaces and Places programmes saw achievements including:

- Expansion of the Premier League Kicks programme to 13 weekly sessions across Kirklees.

- Engaging with 582 Premier League Kicks participants, of which 175 were female.

- 335 participants engaged for 10 or more sessions across the delivery year.

- 117 young people had the opportunity to attend a Kicks competition.

- 15 young people on the Kicks Targeted provision attended a cumulative total of 117 interventions.

- 11 young people engaged in our Care Leavers programme - Turn Out.

The impact of the Movement and Activity programmes saw achievements including:

- 750 young people taking part in Tomorrows Terriers sessions and holiday programmes.

- 14 females engaged in our Calderdale College BTEC programme.

- Delivery of Kirklees Holiday Activity Fund for young people entitled to free school meals.

- 50 unique participants engaged in our Inclusive sessions for people aged 8-18

- 1200 unique young people educated on the benefits of movement and activity.

Grants Payable

During the financial period covered by the accounts the Foundation continued to award grants from funds raised by the Big Sleep Out to external charities. The Board agreed that funds raised would be split with 50% retained towards Breakfast Clubs and 50% to distribute in grants to organisations based in Kirklees focused on tackling homelessness and poverty. Applications for grant funding are reviewed by a subcommittee formed from members of the Board of Trustees and local individuals with sector expertise with support from the Foundation CEO. 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. The Foundation also recognises the benefit of establishing stakeholder partnerships as a result of these grant awards.

STRATEGIC REPORT

Achievement and performance

Fundraising activities

Following the relaxation of lockdown protocols, the Foundation was able to deliver a broader range of in-person fundraising and events such as the return of The Big Sleep Out. Funds raised during the year were primarily directed to supporting our 41 Schools based Breakfast Clubs as the Board recognised the importance of sustaining this offer post pandemic and as we moved into a cost-of-living crisis.

The Foundation intends to develop its Fundraising strategy and plan in order to include a range of events that offer opportunities for engagement with the Kirklees community as a whole. It is also focussed on developing additional fundraising streams which require less intense staff resource e.g. regular giving scheme.

Financial review

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. During the year to 31 August 2022, six months' expenditure equated to £512,436, whilst reserves less fixed assets at the period end totalled £1,001,894. The reserves were replenished in the year by receipt of a large legacy.

Future plans

The Foundation continues to benefit from Premier League Charitable Fund programme funding and is striving to excel in the outcomes required as strong performance may create the opportunity for increased funding.

Moving into 2023, the focus for the Foundation from a delivery perspective is:

- the sustainable development of its existing programmes; and

- expansion of programmes geographically across Kirklees.

The Foundation has established a solid financial position with a strong balance sheet. The budget for the 2022/23 financial year has challenging targets but the Foundation has established mechanisms to monitor, review and challenge financial performance on a monthly basis. Trading activities have returned to pre-pandemic levels which is positive and this is supported by an increased expenditure on charitable activities. There are challenges to overcome, in particular with respect to generating the fundraising income required to retain the Breakfast Clubs, particularly given the significant impact of food and fuel cost inflation. The Foundation recognises there is likely to be an increased demand for Breakfast Club provision given the cost of living crisis and the impact it will have on the Kirklees Community.

The strategy work continues to evolve with a focus on Impact Frameworks and Theory of Change to enable the Foundation to gather data regarding our work, communicate the impact of our work and tell individuals' stories in a more convincing manner. It will also aid applications for grant funding to have a greater depth of impact and outcome data that supports our track record and potential to deliver.

The Foundation remains strongly committed to tackling inequalities across Kirklees and as part of that, plays a key role in supporting Huddersfield Town Football Club in their application to achieve Premier League Equality, Diversity and Inclusion standard at Advanced level.

The Board made a commitment to gain greater diversity and representation amongst its Trustees and has made strides in the last 12 months particularly with the diversity of ethnicity and will continue to ensure future recruitment is undertaken with diversity at its heart. The Board have committed to establishing two additional sub committees to focus specifically on Education and Employability, and Marketing and Communications within 2023.

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.

The liability of the members is limited to £10 each.

The organisation undertook a review of its governing documents: it's Memorandum and Articles of Association and updated copies were filed in 2021 with the relevant statutory bodies. A slight alternation to the organisation's name change to remove "Ltd" from the name.

To allow greater effectiveness of the operations of the Board the Fundraising & Engagement subcommittee and the Finance, Audit and Risk subcommittee established in 2021 continue to operate.

Membership of sub committees entails Trustees as well as appropriately skilled independent individuals sourced by the Board. The implementation of sub committees in Fundraising & Engagement and Finance, Audit and Risk enabled the Board to make more focussed decisions at meetings. The sub committees enabled greater review and development of rationale for decisions and allowed for growth in the governance of these areas with further policies and strategies developed.

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 six trustees.

Organisational structure

The Board of Trustees, which must consist of no less than three members or 1/10th of total membership maximum, administer the Charity by providing the overall strategic direction and ensuring the highest standards of governance are maintained throughout all aspects of the operation.

The main Board of Trustee meetings focus on strategic review and decision making. The Board continue to monitor a detailed Operational risk register, challenging actions that mitigate the risk and ensure these are reviewed on a quarterly basis. Key management personnel remuneration is determined by the Trustees and the CEO.

The Management of the Foundation has been strengthened during the year with the appointment of a Chief Operating Officer. In addition, a Senior Leadership Team has been established with staff responsible for Safeguarding, Finance/Risk, and our Education and Health programmes.

During the Spring of 2022, the Foundation was required to complete its 3 yearly Premier League Code of Practise audit which focuses on organisational governance and compliance across 15 areas of operational practice. The Foundation submitted a strong application and was delighted to be graded 'Exemplary' following Premier League review and validation of our submission.

Our staff

The staff of the Foundation continued to strive to make their community a better place. Some turnover in staff was experienced during the year but with the new strategy in place greater clarity of roles and responsibilities has been established. Several roles were revised and the organisation strengthened the senior team through the recruitment of a Chief Operating Officer.

Staff continued to be afforded a wide range of professional development opportunities to improve their learning with several members of the organisation benefiting from the Level 5 in Leadership and Management - a programme organised by the Club.

The commitment, endeavour and determination of the Foundation's staff to serve the Kirklees Community in challenging circumstances continues to be highly impressive and humbling.

The Trustees would like to thank all Foundation staff for their efforts throughout the year.

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 put in place. All Trustees are required to undertake annual safeguarding training.

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 the 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

07690182 (England and Wales)

Registered Charity number

1146501

Registered office

The John Smith's Stadium

Stadium Way

Leeds Road

Huddersfield

West Yorkshire

HD1 6PX

Trustees

K Cuerden (resigned 20.10.22)

M Devlin (resigned 19.5.22)

M A Gonzalez

A P Grills

P J Hodgkinson (resigned 19.5.22)

J A Hough

R Virtue

L Woollard (resigned 19.10.22)

H Singh (appointed 19.5.22)

K Singh (appointed 17.11.22)

Auditors

Harris Lacey and Swain

Chartered Accountants and Statutory Auditors

Suite 1

The Riverside Building

Hessle

East Yorkshire

HU13 0DZ

Solicitors

Muckle LLP

Time Central

32 Gallowgate

Newcastle upon Tyne

NE1 4BF

Bankers

Lloyds Bank plc

1 Westgate

Huddersfield

HD1 6PX

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Huddersfield Town Foundation 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.

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 2 May 2023 and signed on the board's behalf by:

A P Grills - Trustee

Opinion

We have audited the financial statements of Huddersfield Town Foundation (the 'charitable company') for the year ended 31 August 2022 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 31 August 2022 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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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 this gives rise to a material misstatement in the financial statements themselves. 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.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

Audit response to risks identified:

- the nature of the industry and sector, control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets

- results of our enquiries of management and their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the companies' documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team including regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue deferrals. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK Corporate Governance Code and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

Audit response to risks identified:

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- enquiring of management concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- reading minutes of meetings of those charged with governance

- obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

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.

Richard D Lacey (Senior Statutory Auditor)

for and on behalf of Harris Lacey and Swain

Chartered Accountants and Statutory Auditors

Suite 1

The Riverside Building

Hessle

East Yorkshire

HU13 0DZ

3 May 2023

Period

1.7.20

Year Ended

to

31.8.22

31.8.21

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

556,942

10

556,952

207,557

Charitable activities

4

Supporting young people in West Yorkshire

175,103

285,382

460,485

-

Community

138,866

-

138,866

42,395

Premier League and other contracts

31,000

268,100

299,100

742,287

Other trading activities

3

75,144

79,702

154,846

9,713

Total

977,055

633,194

1,610,249

1,001,952

EXPENDITURE ON

Raising funds

5

27,059

8,037

35,096

21,053

Charitable activities

6

Supporting young people in West Yorkshire

177,729

271,170

448,899

76,692

Community

282,491

750

283,241

26,740

Premier League and other contracts

-

257,635

257,635

763,448

Total

487,279

537,592

1,024,871

887,933

Net gains/(losses) on investments

(22,074

)

-

(22,074

)

-

NET INCOME

467,702

95,602

563,304

114,019

Transfers between funds

16

162,619

(162,619

)

-

-

Net movement in funds

630,321

(67,017

)

563,304

114,019

RECONCILIATION OF FUNDS

Total funds brought forward

445,899

353,321

799,220

685,201

TOTAL FUNDS CARRIED FORWARD

1,076,220

286,304

1,362,524

799,220

2022

2021

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

8,180

-

8,180

12,937

Investments

13

352,450

-

352,450

-

360,630

-

360,630

12,937

CURRENT ASSETS

Debtors

14

185,456

-

185,456

13,319

Cash at bank and in hand

699,158

286,300

985,458

927,348

884,614

286,300

1,170,914

940,667

CREDITORS

Amounts falling due within one year

15

(169,019

)

(1

)

(169,020

)

(154,384

)

NET CURRENT ASSETS

715,595

286,299

1,001,894

786,283

TOTAL ASSETS LESS CURRENT LIABILITIES

1,076,225

286,299

1,362,524

799,220

NET ASSETS

1,076,225

286,299

1,362,524

799,220

FUNDS

16

Unrestricted funds

1,076,225

445,899

Restricted funds

286,299

353,321

TOTAL FUNDS

1,362,524

799,220

The financial statements were approved by the Board of Trustees and authorised for issue on 2 May 2023 and were signed on its behalf by:

A P Grills - Trustee

Cash flows from operating activities

Cash generated from operations

1

432,634

139,136

Net cash provided by operating activities

432,634

139,136

Cash flows from investing activities

Purchase of tangible fixed assets

-

(2,891

)

Purchase of fixed asset investments

(352,450

)

-

Sale of fixed asset investments

(22,074

)

-

Net cash used in investing activities

(374,524

)

(2,891

)

Change in cash and cash equivalents in the reporting period

58,110

136,245

Cash and cash equivalents at the beginning of the reporting period

927,348

791,103

Cash and cash equivalents at the end of the reporting period

985,458

927,348

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Period

1.7.20

Year Ended

to

31.8.22

31.8.21

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

563,304

114,019

Adjustments for:

Depreciation charges

4,757

22,468

Losses on investments

22,074

-

(Increase)/decrease in debtors

(172,137

)

69,124

Increase/(decrease) in creditors

14,636

(66,475

)

Net cash provided by operations

432,634

139,136

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.21

Cash flow

At 31.8.22

£

£

£

Net cash

Cash at bank and in hand

927,348

58,110

985,458

927,348

58,110

985,458

Total

927,348

58,110

985,458

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, except for investments which are included at market value.

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

Income received for services provided is accounted for on an accrual's basis.

Cash donations, gifts and legacies are included in full in the income and expenditure account as they are received. Any significant non-cash donations are included in the income and expenditure account at the trustees' estimate of their market value when received. The value of voluntary help is not included in the accounts.

Grants and other funding of a revenue nature are deferred and released to the income and expenditure account over the period to which they relate.

Bank interest is included in the income and expenditure account on an accrual's basis.

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.

Due to the nature of the grants received by the charity all costs, including overheads, have been directly allocated to activities.

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

-

over length of lease

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

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.

2.	DONATIONS AND LEGACIES

Period

1.7.20

Year Ended

to

31.8.22

31.8.21

£

£

Donations

36,581

120,057

Legacies

520,371

-

Grants

-

87,500

556,952

207,557

3.	OTHER TRADING ACTIVITIES

Period

1.7.20

Year Ended

to

31.8.22

31.8.21

£

£

Fundraising events

154,846

9,713

4.	INCOME FROM CHARITABLE ACTIVITIES

Period

1.7.20

Year Ended

to

31.8.22

31.8.21

Supporting

young

Premier

people in

League and

West

other

Total

Total

Yorkshire

Community

contracts

activities

activities

£

£

£

£

£

School income

120,092

28,439

36,577

185,108

142,614

Furlough grant

-

-

-

-

45,324

Grants

340,393

110,427

262,523

713,343

596,744

460,485

138,866

299,100

898,451

784,682

5.	RAISING FUNDS

Raising donations and legacies

Period

1.7.20

Year Ended

to

31.8.22

31.8.21

£

£

Sundries

630

1,778

Staff costs

23,782

17,580

Event costs

10,684

1,695

35,096

21,053