**Draft Financial Statements at 17 July 2024 at 14:25:40**
**Company Registration No. 02664559 (England and Wales) Charity Registration No. 1006639**
**THE FOOD HYDROCOLLOIDS TRUST (Limited by Guarantee)**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Professor T J Foster||
|---|---|---|
||Dr C Rolin||
||Dr G Sworn||
||Professor F M Goycoolea Valencia||
||Professor P A Williams||
||Dr P A Braga Fernandes|(Appointed 9 September|
|||2023)|
||Professor G A Morris|(Appointed 11 April 2023)|
||Dr G Yakubov|(Appointed 10 April 2023)|
|**Secretary**|Professor P A Williams||
|**Charity number**|1006639||
|**Company number**|02664559||
|**Registered office**|24 Parc Gorsedd||
||Gorsedd||
||Holywell||
||Flintshire||
||United Kingdom||
||CH8 8RP||
|**Independent examiner**|Azets Audit Services||
||First Floor||
||Unit 55 Ffordd William Morgan||
||St Asaph Business Park||
||St Asaph||
||United Kingdom||
||LL17 0JG||
**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Statement of trustees' responsibilities|4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 12|
**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
The trustees present their annual report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Memorandum and Articles of Association dated 20 November 1991, 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) (effective 1 January 2019)".
## **Objectives and activities**
The trust's objects are to advance the education of the public in all aspects of hydrocolloids and related substances. The principal activities continued to be related to the organisation of International Conferences to expand awareness.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
## **Achievements and performance**
## **Business review and future developments**
The Trustees have been active in the organisation of the 21st Gums and Stabilisers for the Food Industry Conference which was hosted by Professors Costas Biliaderis and Athina Lazaridou from the Aristotle University of Thessaloniki, Greece, 6th-9th June 2023. The Conference was held at the Mediterranean Palace Hotel, Thessaloniki and attracted a total of 150 delegates from various parts of the world and included 40 postgraduate students. A number of internationally renowned speakers were invited to give Plenary Lectures. These included Dr Laurent Heux, CERMAV, France, Dr Sarah Michel, Nestle Research, Switzerland, Dr Fred Warren, Quadrum, UK, Professor Markus Stieger, Wageningen University, The Netherlands, Professor Stephan Drusch, Technical University Berlin, Germany, Professor Stefan Kasapis, UMIT, Australia and Professor Katsuyoshi Nishinari, HUT, China. The Food Hydrocolloids Trust Medal Lecture for 2023 was presented by Professor Costas Biliaderis and the G.O. Phillips Young Scientist Prize for 2023 was awarded to Professor Delphine Huc-Mathis, France. There were 60 oral presentations and 52 poster presentations in total. Prizes were given for the top three posters. The proceedings of the Conference will be published as a Special Issue of the Food Hydrocolloids Journal, which is published by Elsevier, and Professors Biliaderis and Lazaridou have agreed to be the Guest Editors.
The Trustees have been in discussion with a number of research groups regarding the location of the next Conference in 2025 and it has been decided that it will be held in Wageningen and hosted by Professor Markus Stieger and Dr Elke Scholten.
## **Financial review**
Total income for the year was £59,381 (2022: £3,153). Expenditure for the year was £46,611 (2022: £5,160) resulting in reserves at 31 December 2023 of £78,513 (2022: £65,743).
The balance held at the bank at the start of 2023 was £59,318 and the balance as of 31 December 2023 was £81,357.
## **Reserves policy**
The Trustees have considered the Reserves Policy and it was agreed that in view of the increased costs associated with the organisation of conferences the unrestricted funds not committed should be increased to a minimum of £30,000 and the maximum to £90,000.
## **Risk management**
The Trustees have considered the risks to which the charity is exposed. They are satisfied that risks are minimised through the diligent work of the Trustees in the organisation of Conferences and the Treasurer, Mr Haydn Hughes, for his work in managing and reporting the accounts. The Trustees are aware that the current world situation and other factors could lead to a decrease in funds for a particular conference and this is reflected in the Reserves policy. The Trust is registered with the Information Commissioner’s Office and makes every effort to comply with the Data Protection Act 2018.
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**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **Structure, governance and management**
## **Governing document**
The trust is a company limited by guarantee (Number 2664559) and a registered charity (Number 1006639). The trust is governed by its Memorandum and Articles of Association dated 20 November 1991, as revised on 7 June 2005. Under these Articles members are appointed at the AGM to serve until the next AGM and are eligible for re-election.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up, The total number of such guarantees at 31 December 2023 was eight (2022: five).
## **Trustee membership**
Three new Trustees were appointed during the year, namely Professor Gordon Morris, Professor Gleb Yakubov and Dr Paulo Fernandes. It is noted that Professor Francisco Goycoolea left the University of Leeds in December 2023 to take up a position at the University of Murcia, Spain but remains as a Trustee. The full list of Trustees and their affiliations are given below:
Dr P. Fernandes, Nestle Development Center, Amiens, France Professor T. Foster, Emeritus Professor University of Nottingham, UK Professor F. M. Goycoolea, University of Murcia, Spain Professor G. Morris, University of Huddersfield, UK Dr C. Rolin, (retired) Denmark Dr G. Sworn, (Chairman) IFF, France Professor G. Yakubov, University of Nottingham, UK Professor P. A. Williams, (Secretary) Wrexham University, UK
## **Trustee recruitment and appointment**
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Trustees are normally, but not exclusively, recruited from the organising committees of the conferences. Nominations for new members of the Board of Trustees will be discussed at the Trustees' meetings and new Trustees will be appointed by quorate consensus, but if necessary by majority decision at a quorate meeting.
Given the experience, industry knowledge and usual long association with the Trust through the organising committees,specific training is not required for Trustees.
The Trustees are actively looking to appoint new members.
## **Organisational structure**
The trustees, who are also the directors of the company, will typically meet twice per year, but additional meetings can be held as necessary. Where possible decisions are taken by quorate consensus, but if necessary majority decisions will be taken at a quorate meeting.
Day to day administration of individual conferences is delegated to the Conference Organising Committee which includes the trustees.
## **Statement of Public Benefit**
The Trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission in December 2008.
It is the trust's objectives are to advance the education of the public in all aspects of hydrocolloids and related substances. The principal activities contineue to be related to the organisation of international conferences to expand awareness.
The trustees' report was approved by the Board of Trustees.
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**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
.............................. **Professor P A Williams** Trustee Dated: .........................
.............................. **Dr G Sworn** Trustee Dated:.........................
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**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
The trustees, who are also the directors of The Food Hydrocolloids Trust for the purpose of company law, are responsible for preparing the Trustees' Report 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 trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FOOD HYDROCOLLOIDS TRUST**
I report to the trustees on my examination of the financial statements of The Food Hydrocolloids Trust (the trust) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the trustees of the trust (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 trust 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 trust’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.
## **Independent examiner's statement**
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:
- 1 accounting records were not kept in respect of the trust as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 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
- 4 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.
Jonathan Ward FCA Azets Audit Services
First Floor Unit 55 Ffordd William Morgan St Asaph Business Park St Asaph LL17 0JG United Kingdom
Dated: .........................
- 5 -
**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|||**Unrestricted **|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2023**|**2022**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Conference and sponsorship income|**3**|59,381|3,153|
|**Expenditure on:**||||
|Charitable activities|**4**|46,611|5,160|
|**Net income/(expenditure) for the year/**||||
|**Net movement in funds**||12,770|(2,007)|
|Fund balances at 1 January 2023||65,743|67,750|
|**Fund balances at 31 December 2023**||78,513|65,743|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 6 -
**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2023**_
|**Notes**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**10**
Net current assets
**Income funds**
Unrestricted funds|**2023**
**£**
-
81,357
81,357
(2,844)|**£**
78,513
78,513
78,513|**2022**
**£**
7,765
59,318
67,083
(1,340)|**£**
65,743|
|---|---|---|---|---|
|||||65,743|
|||||65,743|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 financial statements were approved by the Trustees on .........................
|..............................|..............................|
|---|---|
|**Dr G Sworn**|**Professor P A Williams**|
|Trustee|Trustee|
## **Company registration number 02664559**
- 7 -
**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **Charity information**
The Food Hydrocolloids Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 24 Parc Gorsedd, Gorsedd, Holywell, Flintshire, CH8 8RP, United Kingdom.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the trust's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust 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.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.4 Income and Expenditure**
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Income and sponsorship income are recognised in the period for which in the income relates.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
## **1.5 Cash and cash equivalents**
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.
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**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Financial instruments**
The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. All financial assets classified as receivable within one year, they are not amortised but carried at face value.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are carried at face value.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
## **1.7 Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **2 Critical accounting estimates and judgements**
In the application of the trust’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.
There were no critical accounting estimates or judgements in the current year.
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**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **3 Conference and sponsorship income**
||**Unrestricted **|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|Conference income|52,652|-|
|Sponsorship income|6,729|3,153|
|Conference and sponsorship income|59,381|3,153|
## **4 Charitable activities**
||**Conference**|**Conference**|
|---|---|---|
||**Expenses**|**Expenses**|
||**2023**|**2022**|
||**£**|**£**|
|Accommodation and meals|19,760|-|
|Management services|4,000|1,000|
|Conference book literature|4,012|-|
|Hire of rooms and equipment|1,065|-|
|Travel|11,195|21|
|Postage, printing and stationery|534|457|
|Website costs|2,160|1,800|
|Awards|98|882|
|Subscriptions|35|35|
||42,859|4,195|
|Share of support costs (see note 6)|896|13|
|Share of governance costs (see note 6)|2,856|952|
||46,611|5,160|
## **5 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
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**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **6 Support costs**
|**Support costs**|||
|---|---|---|
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accommodation and
meals
835
-
Travel
46
-
Sundry expenses
15
-
Accountancy fees
-
2,844
Bank charges
-
12
896
2,856
Analysed between
Charitable activities
896
2,856|**2023**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
835
-
-
46
-
-
15
13
-
2,844
-
948
12
-
4
3,752
13
952
3,752
13
952|**2022**
**£**
-
-
13
948
4|
|||965|
|||965|
## **7 Employees**
There were no employees for year ended 31 December 2023 (2022: none)
## **8 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **9 Debtors**
|**9**
**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Prepayments and accrued income
**10**
**Creditors: amounts falling due within one year**
**Notes**
Deferred income
**11**
Accruals and deferred income|**2023**
**£**
-
**2023**
**£**
-
2,844
2,844|**2022**
**£**
7,765|
|||**2022**
**£**
392
948|
|||1,340|
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**Draft Financial Statements at 17 July 2024 at 14:25:40 THE FOOD HYDROCOLLOIDS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **11 Deferred income**
|Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 January 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 December 2023|**2023**
**£**
-
**2023**
**£**
-
392
(392)
-
-|**2022**
**£**
392|
|---|---|---|
|||**2022**
**£**
392|
|||-
-
392|
|||392|
## **12 Analysis of net assets between funds**
|**Analysis of net assets between funds**|||
|---|---|---|
||**Unrestricted**|
**Unrestricted**|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|Fund balances at 31 December 2023 are represented by:|||
|Current assets/(liabilities)|78,513|65,743|
||78,513|65,743|
## **13 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
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