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← Huntingdon Freemen's Trust

2025-04-30-accounts

REGISTERED CHARITY NUMBER: 1044573

Report of the Trustees and

Financial Statements for the Year Ended 30 April 2025

for

Huntingdon Freemen's Trust

_. ~=Huntingdon Freemen’s Trust ‘Supporting the residents of Huntingdon since 1993

GH Audit Limited Sl George's House George Street Huntingdon Cambridgeshira PE?S 36H

Huntingdon Freemen’s Trust

Contents of the Financial Statements for the Year Ended 30 April 2025

Page
Report ofthe Chief Executive 1 to 3
Report ofthe Trustees 4 to 17
Reportofthe Independent Auditors 18 to 20
Statement ofFinancial Activities 24
Balance Sheet 22
Gash Flow Statement 2d
Notes to the Cash Flow Statement 24
Notes to the Financial Statements 2o lo 33
DetailedStatementofFinancialActivities 34 to 35

Huntingdon Freemen’s Trust

Report of the Chief Executive for the Year Ended 30 April 2025

INTRODUCTION

On behalf of the Trustees, | am pleased to welcome you to our Annual Report for the year ending April 2025,

We hope you find this report both informative and engaging, offering a meaningful insight into the operations of this long-standing and distinctive charity.

Sines its founding in 1993, the Trust has continued to grow and strengthen its impact-providing grants to local individuals, as well as to groups and organisations operating within the area served by Huntingdon Town Gouncil. While the charily cannal fund statutory services, it plays a vital role in offering additional support where gaps in prevision exist.

Atits core, the Trust operates as a orant-making organisation. Applications are received and processed by our small, dedicated staff team, with decisions on awards made by the Trustees, based on eligibility and demonstrated need, Over the years, the Trust has remained consistent in its purpose and approach, with little change to the way it works-reflacting the clarity of its mission and the strangth of its governance.

MEETING THE CHALLENGES

There have been several staff changes wilhin the Trust over the past year. It was vital to ensure that these transitions did not negatively impact our clients or Trustees. Comprehensive handover and training plans were implemented successfully, and we took the opportunity to review and refresh internal processes, driving operational improvements through the Introduction of new team members.

As part of this effort, we undertook a review and cleanse of our existing database. This exercise canfirmed the need to replace the system entirely. A key objective of the project is to enhance both the client experience and internal efficiency. The new system will provide secure data management, supported and accessible software, and improved application processing and reporting. The project is now underway and is expected to ga live in the coming year.

To support the careful consideration of larger awards we have this year made a change to our grant approval process: all applications requesting £10,000 or more will now be reviewed in July and January only. This will ensure alignment with the approved budget.

In addition, work has been undertaken to review our provision of mobility aids. To improve our client experiance and minimise our exposure to risk, an insurance policy has been put in place covering items that are issued on a loan basis,

RAISING OUR PROFILE IN THE COMMUNITY

To slay connected with our clients and the wider community-and as a small team working within a finite budgetour marketing efforts are carefully planned and strategically targeted to reach those most in need. We have continued to build strong relationships with a number of local organisations that also support our client base. Many of our clients have complex needs, and being able to signpost them to appropriate services has becoma an effective and supportive way to extend our reach.

We continue ta receive a high volume of grant applications via our website. This digital access is complemented by our in-person ‘drop-in’ service, where clients are welcome to visit our town centre office and speak directly with a member of staff. It is Important that we maintain personal contact with our community and uphold the ethos and values at the heart of the Charity GRANT AWARDS The findings of the Grants for Our Times research paper, presented to the Trustees in spring 2020-just as the pandemic began to take hold-remain as relevant today as they were then. The research highlighted a significant need for support in pre-schoal and early years development, alongside a growing number of individuals, particularly young people, facing challenges related to mental health and wellbeing.

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Huntingdon Freemen's Trust

Report of the Chief Executive for the Year Ended 30 April 2025

In response, the Trustees continue to focus on these two areas as strategic priorities for the immediate to midterm future, committing substantial funding to support initiatives within these themes. These priorities remain highly relevant, and grants continue to be awarded in alignment with them, provided applications meet the Trust's established critena.

Over recent years, the financial pressures faced by public sector bodies-and the resulting cuts to local services and reductions in welfare support-were already having a significant and detrimental Impact on individuals’ lives and wellbeing. This difficult situation was further intensified by the ‘perfect sterm' of the pandernic, followed swiftly by a series of political and global events that placed even greater strain on saciety.

That turbulence continues. We now have a new government in office, and while a range of new policies have been announced, we await further clarity on how these will affect our clients and the wider community. Meanwhile, intemational political develaprnents and ongoing global conflicts are having a direct impact on the Trust's financial position, These challenges are being closely monitored and carefully managed,

The work of the Trust is shaped by a complex social, political, and financial landscape. Ongeling tax threshold freezes, combined with a sharp rise in living costs, have pushed financial pressures to unsustainable levels for many in our local community. Asa result, we have seen a predictable rise in applications across all groups This growing demand places significant strain on some of our most vulnerable populations, with potentially serous consequences for their health and wellbeing.

As we remain focused on our strategic themes, we are also acutely aware of the evolving nature of need during these persistently uncertain times. While staying true to our established priarities, we recognise that inaction is not an option, The months and years ahead will undoubtedly bring significant challenges, with soaring living costs and stagnant incomes placing immense pressure on communities-potentially with devastating effects. In response, we continue to provide grants to alleviate hardship for residents of Huntingdon. We also maintain our suppert for education through per capita grants to schools and university students, helping to offset accommodation costs, Additionally, we will continue to support recreational and leisure activities, recognising their important role in promoting mental wellbeing.

Decisions regarding these, as well as any new or emerging organisational priorities, will be guided by the charity's financial position-both in the present and with careful consideration for future income and expenditure.

The Trustees will continue to strike a balance between meeting the needs and priorities of our community and ensuring the long-term sustainability of the Trust, thereby maximising the impact of our resources.

OUR PEOPLE

In September, we said farewell to Janice Smith, Administrative Assistant, who retired after an incredible 27 years of service with the Trust. The follawing month, Ruth Black, our Ghief Executive Officer, also retired after 12 years of dedicated leadership. We are deeply grateful to both Janice and Ruth for their outstanding commitment and support over the years. As they begin their well-eamed retirements, we wish them all the very best for the future.

Also in September, we welcomed Kirsty Meadows to the team in the newly created role of Operations Manager. This position provides essential support to the Chief Executive Officer and oversees the Trust's day-to-day operational activities. With har extensive experience, Kirsty has quickly become a valued member of the tearm.

Following Ruth's departure, | was honoured to take on the role of Chief Executive Officer in November,

We also saw changes within our Board of Trustees. In June, we expressed our heartfelt thanks to Richard Hough, our longest-serving Trustee, who stepped down after an exceptional 30 years of service. We wish Richard all the best in his retirement. In Novernber, we welcomed Noel Kearns to the Board. With a strong background in finance and govemance, Noel has already proven to be a valuable addition to the Trust.

THANK YOU

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Huntingdon Freemen’s Trust

Report of the Chief Executive for the Year Ended 30 April 2025

The small team has worked incredibly hard over the past year and, with the added impact of two leavers and a new Starter, they have ensured the continued provision of 4 great service to our clients. | would like to take this opportunity to thank them for their input, commitment and continued supper.

liook forward to working together with tha team of staff and Trustees as we face the future challenges in the year ahead,

Karen Bean

Chief Executive Officer

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Huntingdon Freemen's Trust

Report of the Trustees for the Year Ended 30 April 2025

The trustees present their report with the financial statements of the charity for the year ended 30 April 2025. 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 Activities

The Trust exists for exclusively charitable purposes for the benefit of individual residents within the boundaries of Huntingdon Town Council, or organisations primarily or exclusively benefiting them.

The objectives of the charity and the specific geographical remit has been set by a High Court Order dated 1993.

Grants or other material assistance are available within the following categories: (a) relief in need (b) the promotion of education

(c) the provision and support of facilities for recreation and leisure

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Huntingdon Freemen's Trust

Report of the Trustees for the Year Ended 30 April 2025

OBJECTIVES AND ACTIVITIES

Significant Activities Relief-in-need

The Trust's stratagy under this objective is to support residents residing in the Huntingden Town Council who are experiencing hardship and whose basic needs are nat being met through public services. This includes individuals who are unable to afford essential items or services due to their personal circumstances.

Relief-in-need funding is applied across several sub-categories, including medical needs, support for children and families, assistance for elderly residents, support for those experiencing unemployment or low income, and cases involving domestic abuse. While grants recorded under the "elderly" category may appear limited, many of these applications relate to medical or mobility needs-such as mobility scooters-which are classified under the "medical" category.

Historically, applicants were visited al home by the Grants Officer to gather the necessary information for Trustees to make informed decisions. based on the severity of need and the applicant's ability to self-fund. During and after the pandemic, this process evolved to include telephone interviews and in-person meetings at the Trust office,

With the shift to applications being submitted online, much of the information needed to assess eligibility is now gathered more efficiently at the outset, reducing the need for rouliné home visits. This shift has allowed the Trust to focus staff time and resources on higher-impact, value-added activities and strategic projects that further support our charitable aims.

While telephone interviews and digital applications have proven effective, we recognise that some cases benefit from a more personal approach. Home visits will therefore continue to be used selectively-particularly in more complex or sensitive situations-with two members of staff attending to ensure quality engagement and safeguarding.

In the year ahead, Trustees will continue to provide targeted support under the various sub-categories of relief in need, as well as offer direct assistance to individuals facing hareship, in line with the core purpose of the Relief-in-Need grants programme.

Education

In this area, the Trust seeks to enhance the educational opportunities of Huntingdon residents both in their early years and in vocational and higher education.

Local pupils benefit from grants to nursery and primary schools in the town to supplement local education authority provision. In 2024-2025 the rate awarded was increased to £24 per pupil.

Post-sixteen students taking vocational courses in local colleges are assisted with course fees and some equipment costs, Trustees have also agreed to pay student's travel costs in some situations of hardship. Students going away to university or further education colleges are helped with accommodation costs. For this financial period the maximum annual contribution was increased from £1,000 to £1,200 per student per year. The number of awards made is fairly consistent with 78 students being awarded grants in the year 2024-25, compared to 80 in 2023-24 and B82 in 2022-23

Educational achievement continues to be a priority area of need in parts of Huntingdon, ranging from Early Years, pre-school ang Nursery through to adulthood. With the following notable awards being made:

a) children and their parents (Huntingdon Nursery School Centre) £53,333 paid this year b) children and their parents (Huntingdon Nursery School Centre) £30,980 awarded to be paid this coming financial year

This funding has supported the ongoing employment of a Community Engagement Support Worker. The role focuses on strengthening the partnership between a nursery school, parents, and the wider community-helping to give children the best possible start in life and educating and empowering families to access support and navigate challenges effectively. This work has gone from strength to strength and in this year the Community Engagement Support Worker has facilitated over 330 sessions across a range of 30 activities reaching out to over 4.600 attendees (adults and children).

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Huntingdon Freemen's Trust

Report of the Trustees for the Year Ended 30 April 2025

OBJECTIVES AND ACTIVITIES Significant Activities (continued)

Mental health and Wellbeing

Trustees agreed to make this a strategic priority for grant funding. As we face a climate of rapidly rising costs across all areas of life, described by many as unprecedented in recent times, we recognise the growing strain on mental health and well-being, An increasing number of local people are experiencing significant hardship as they struggle with the escalating cost of living, and the Trust is committed to supporting initiatives that address these challenges,

The Trust has awarded significant funds to a local group who are working wilh children and their families, to support their mental wellbeing (Acorn Project) £50,000 has been awarded and will be paid this coming financial year.

Recreation and Leisure

Benefits to local residents are also provided through grants to local clubs, groups and societles catering for a wide variely of recreational and leisure activities to all age groups.

Numbers of applications in this category have tended to be low in recent years but it is pleasing to note that there has been an increase this year, with applications accounting for 19% of those received. Notable awards that have been made include Fusion who facilitate Holiday Club and Community Fun Day activities and All Inclusive Football Coaching which caters for SEND children and young peaple.

Such activities are recognised as being beneficial in terns of supporting positive mental health and wellbeing as well as physical health, and applications for grants will be considered in this context,

Performance & Public benefit

The Trust mainly works by responding to applications from individuals and organisations. The chart below shows the analysis of grants submitted ta Trustees and were either awarded, deferred or rejected. Those that are deferred require further information and are resubmitted to the Trustees at a following meeting for a decision.

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Grant Application Results 2024-25 (volume)
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B Awarded
@ Deferred
mfejected
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In the year there were a total of 161 new applications received. The value of these applications was £294,291 (2024: £459,590). The largest percentage of grant applications received within the year was medical 40% (2024: 31%) followed by students 28% (2024: 29%)

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Huntingdon Freemen’s Trust

Report of the Trustees for the Year Ended 30 April 2025

OBJECTIVES 4ND ACTIVITIES

Significant Activities (continued)

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Grant Applications Received 2024-25
\ B Children
\ @ Students
3:;0%
; gm Schools
=e \ | 28% @ Medical
] @ Recreation & Leisure
—— ne @ Unemploymant'Low
ss a Income
7% a mw Elderly
40% 7" g Domestic Violence
,a
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Huntingdon Freemen's Trust

Report of the Trustees for the Year Ended 30 April 2025

FINANCIAL REVIEW

Financial position

The Trustees have successfully maintained low governance costs, with the most significant expense being the fees paid to our expert fund managers, Rathbones. Their expertise is instrumental in achieving the strong investment retums that support the Trust's work.

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Charitable Resources Expended 2024-25
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@ Auriga Trust
MAMA ING FSSCbS etc
BS Grannis19
PSL thons
8 Grants te indiveduals
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Staff salaries were reviewed, and Trustees approved and implemented a 4% pay increase for all staff fram May 2024. The Freemen's Trust pay scheme is aligned with the NJC pay spine although pay awards are at the discretion of Trustees, The staff pension scheme has three employees enrolled and Trustees make an employer's contibution of 5%, the same as last year

Histerically, the Trustees and staff have successfully maintained modest overheads.

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Resources Expended
E700 ,000
£600,000
F500 000
£400,000
£300,000
200,000
£100,000
£.
2018 2015 2020 2021 2022 2023 2024 2025
EManagement @® Support M@ Charitable activity
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During the financial year, income exceeded axpenditure by £169,400 (2024: (£417,102) .|. This surplus was largely due to a compensatory payment of £258,398 received from National Highways in respect of the A174 programme. Taking the movement on the investments market value out of the equation, rental income plus realised income from the investments, less grants and supporting activities, the result is a surplus of £334,512 (2024: £233,891).

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Huntingdon Freemen's Trust

Report of the Trustees for the Year Ended 30 April 2025

FINANGIAL REVIEW

Financial position (continued)

The graph above shows the consistenth and moderately low cost of running the Trust, The Trustees do not wish to increase these costs, but to spend reserves by increasing the grants available to the community,

Grants awarded in the year are 4% higher than last year and the costs of running the chanty have decreased by 7% on 2024 figures

Much of the Trust's financial growth is attributed to endowed assets and cannot therefore be spent, simply retained for the future sustainability of the Trust, ensuring its ability to generate funds long-term.

The 14 road upgrade, though now completed, continues to affect Trust land around Huntingdon, Several areas have been subject to temporary or permanent compulsory purchase by National Highways. A surveyor appointed by the Trust is managing negotiations on our behalf regarding land acquisition and associated compensation claims. This ongoing process has significantly increased the workload for aur surveyors, leading to higher professional fees - some of which, though not all, are recoverable from National Highways. This complex situation is expected to continue for up to twelve years, as issues relating to land take and restoration require negotiation and agreement between multiple parties, Trustees are actively looking al land opportunities to reinvest the compensatory payments received into ,

The Trust's land at Roxton, Bedfordshire is currently affected by two key infrastructure projects. The National Highways works to improve the A426/4?1 is in progress and is projected ta continue into 2027. The East West Rail proposal to provide rail servicas between Bedford and Cambridge is taking shape, with interested and affected parties being invited to an initial consultation in January. The Trust's preferred route, with a lesser impact on the land, for the railway has been stated. This project is still pending government approval.

The bridge between Eastside Common and Westside Common needs to be replaced. The bridge has to be suitable for livestock to use to move between the two grazing pastures. Quotes obtained indicate an anticipated spand of £100,000 to do this work. These funds have been designated for this purpose and are reflected In the funds note. Our land agents are working with the relevant agencies to progress this and expect that works will be carried out in the next financial year

Finance Sub Committee

The Finance Sub Committee (FSC) Terms of Reference were reviewed and updated. The FSC are responsibla for reviewing, interrogating and making recommendations on all financial matters. These recommendations are presented to the full board of Trustees for decision making.

An independent financial advisor has been engaged to conduct a review of the Trusts investments and cash management. The report ls expected in the next financial year.

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Huntingdon Freemen's Trust

Report of the Trustees for the Year Ended 30 April 2025

FINANCIAL REVIEW

Investment Policy and Performance

In accordance with the terms of the Order made by the Charity Commission, the Trustees confirm that:

"thea Trusteas first identified the value of the initial founding oift in 1967. No further gifts have bean made. "when determining the amount to transfer to income the Trustees have considered the requirements to maintain the current level of charitable activity, the likely benefit to future generations of Huntingdon, and the likely needs of future beneficiaries: and

“when reaching their decision as to the amount of return to transfer to income, the Trustees have taken professional advice from their investment advisors regarding the market outlook, Investment trends and yleld and the prospects for future capital growth.

Our investment advisors, Rathbones Group Fle [Rathbones] are instructed to invest to maximise the total return on permanent endowment funds.

The Trust has been relatively financially secure in that its incorne largely darives from investments in permanently endowed funds and agricultural land. The Trustees safeguard the income from these investments by a policy of diversification across sectors, countries and funds, which it regularly reviews with its fund managers. Towards the end of this reporting period, Trustees made the decision to move to the specialist Charities team within Rathbones. The portfolio will transition from investing in "fund of funds" and move to a “direct investment" model. This will provide improved control and allow for more focused efforl on ethical and sustainable investing. The level of yield will be maintained whilst realising a significant reduction in costs. This change will be implemented in the caming financial year.

Regular financial reviews confirmed that the performance of the investments has matched both the agreed benchmark comparator and the projected performance level. A number of political influences continued to affect the volatility of the markets, During the reporting year, the ongoing Russia/Ukraine war, the Israeli conflicts and the effects of Liberation Day, which saw an overnight drop of 8% in the value of the investment portfolio, exacerbated the uncertainty of the financial global markets and Rathbones highlight these points in updates provided for the Trust. Uncertainty continues to be the key message in the investment market as we move into a new year although the hike in the cost of living and high level of inflation appear to have stabilised.

The Trust owns the three-storey listed office building. The ground flocr is occupied by the Trust as head office and there is a tenant in one of the suites on the upper floors, The Trust derives an income from rent received.

Banking and Investments

Barclays continues to be the bank of choice for the day-to-day running of the charity and access security measures are in place to allow for online banking to be carried out. Most bank transactions are made by BACS, thereby eliminating the use of cheques and the associated charges of cheque processing and reducing the need to visit the bank.

Rathbones continue to hold the charity's invested funds and report regularly to the FSC. There has bean no cause to consider changing the arrangements for [he management of the portfolio at this time, pending the Independent Financial Advisors findings and recommendations.

Liquid Reserves Policy

Trustees have adopted a financial management policy which sets the parameters for the handling and management of free funds and cash. This is reviewed annually and a cash reserve of £500,000 ts considered sufficient to administer the Trust's aims and objectives for up to one year.

Unrestricted net current assets currently stand at £498,227 (2024: £461,893],

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Huntingdon Freemen's Trust

Report of the Trustees for the Year Ended 30 April 2025

FINANCIAL REVIEW

Reserves Policy

The level of income required to be drawn down from the Rathbones portfolio is reviewed by the FSC, to ensure no erosion of capital. This provides a safeguard to ensure any action required (if there is a downtum in the market), would be taken in a timely manner,

In addition to rental income from land and buildings, the Trust withdraws £360,000 annually from its invested funds, in monthly instalments, to support its operational costs. The annual budget is structured around this drawdown, and Rathbones manage the portfolio with the aim of generating this leval of income, adjusting the risk profile and the balance between income-generating and growth assets as needed, For the year ahead, this policy has been revised, and the annual drawdown has been increased to £375,000. Rathbones' investment managers have confirmed that this revised amount is both realistic and sustainable, without eroding the underlying capital.

The following chart shows the value (£17,875,662) of endowed reserves aver a comparative 10-year period, The adjusted vaiue shown in yellow restates the value of the fund in today's money by stripping out the effect of inflation, The result confirms relatively stable funds held, as a result of the consistent policy of balancing income with gains.

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£24
Reserves (fmill)
£19 +
E14
eee Endowed Funds Adjusted Value
£9
2016 2017 2078 2019 2020 2021 2022 2023 2024 2025
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The Trust could comfortably continue to provide grants from unrestricted cash reserves in line with the normal policy and aims for a period of 12 months if there was a further significant downtum in the investment market. This would give the Trustees and Rathbones enough time to reconsider their investment policy and raview grant giving criteria,

FUTURE PLANS

As part of the strategic planning review, the Trustees have approved a resolution to establish the Trust as a Charitable Incorporated Organisation (CIO). By doing this, there will be a shift in liability to the Trust, away From the currant individual liability ofthe Trustees. There will also be a dramatic reduction in the administrative burden as contracts will be held with the ClO rather than the individually named Trustees. The anticipated cost to undertake this will be £10,000-15,000, There will ba na change to the Charitable Objects.

The Charity exists as a grant-making Trust, Applications for grants are received and pracessed by a small slalf team, with decisions made by the Trustees based on eligibility and assessed need.

The Trustees continue to focus on several priorities identified in previous years. Please refer to the Chief Executive's Report for further detail.

Inthe coming year, the Trustees will continue to provide grants to relieve hardship for residents of Huntingdon, as well as awarding per capita grants to schools and assisting students attending university to with accommodation costs.

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Huntingdon Freemen's Trust

Report of the Trustees for the Year Ended 30 April 2025

FINANCIAL REVIEW Reserves Policy (continued)

Trustees will maintain focus on tha significant need for pre-school and early years development support, In addition, we will continue to respond to the growing number of individuals-particularly young peopleexperiencing a range of mental health and wellbeing challenges,

Looking ahead, the Trustees are also committed to developing further support for young people transitioning from education into employment. This will include exploring opportunities to provide support for traval and equipment.

Finally, the Trustees recognise the value of recreational and leisure activities in supporting personal development and wellbeing and wall continue ta consider relevant applications from groups and organisations an their merits.

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Huntingdon Freemen's Trust

Report of the Trustees for the Year Ended 30 April 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Goverming document

The Schemeof this unincorporated charity was set in the High Court Order which created It in December 1993, Minor amendments since then, approved by the Charity Commission, have produced a structure of three Trustees nominated by the local County Council, District Council, and Town Couneil together with four coopted Trustees.

The Trustees are supported by two part-time staff managed by the Chief Executive, who also works part-time,

Structure, Governance & Management

Trustees

Induction of Trustees is conducted by the Chief Executive and existing Trustees through the provision of relevant documents on the constitution, practices and policies of the Charity and through perticipation in the Trustees’ monthly meetings which deal with policy, administrative issues and grant applications. Trustee meetings are held in person each month.

All Trustees have declared that they are "fit and proper" in accordance with the Charity Cornmmission's guidelines.

Appointed nominated Trustees serve a four-year term and co-opled Trustees serve a five-year term.

This year we have seen, after 30 years dedicated service, the retirement of our longest standing Trustee, Mr Richard Hough. He goes with our thanks for his commitment and the knowledge that he has shared. We were pleased ta announce the addition of Mr Noel Kearns to our Board of Trustees, Mr Kearns joins us with a background in finance and govamance, and a wealth of experience In the charity sector,

A motion was passed in January to amend the definition of quorum, increasing from three to four. Al no time has the Board of Trustees been less than querate.

Staff

As detailed in the CEO report, there have been a number of changes to the team this year. We have a new CEO and welcomed our Operations Manager to the team, We also said goodbye, and offered our sincere thanks, to our outgoing CEO, who served for 12 years, and our Administrative Assistant, who dedicated 27 years to the organisation. Both ratirad after years of committed service.

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place lo provide reasonable assurance against fraud and error.

The Board retains, and regularly consults, its solicitors, surveyors and accountants to protect Its interests in all its activities, particularly management of its land holdings and financial investments.

Claims for grants are thoroughly checked for compliance with the Trust's Scheme and for veracity of the information supplied on residence, need and income. Individual applicants are interviewed by telephone or meet with the Grants Officer in the office. Grants are means tested and declared income Is validated with supporting documentation. Applicant organisations also have their claims and accounts checked before reporting to the Trustees for their dacision.

All grants and administrative expenses over £500 are approved by the Trustees as a body, either individually al monthly meetings or as specific items in the approved annual budget. Trustees agreed that the Chief Executive can aulhorise non-grant payments up to £500 to facilitate the efficient day-to-day management of the Trust's business.

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Huntingdon Freemen's Trust

Report of the Trustees for the Year Ended 30 April 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Structure, Governance & Management (Continued)

The CEQ is authorised to make payments via BACS. This approach reflects wider banking practice, with many institutions no longer accepting cheques. BACS payments offer a secure, efficient, and reliable method for transferring funds to suppliers, grant recipients, and partners, This shift alse strearnlines financial administration, improves record-keeping, and speeds up reconciliation,

Client information is treated confidentially and retained securely. Paper records are securaly stored in locked cabinets within a locked, alarmed office, while electronic records are kept on a standalone system isolated from the internet. Any sensitive information shared electronically is protected with password encryption. All computer files are requiarty backed up to a remote, encrypted server.

In line with the Trust's data protection policy, documents and electronic data older than seven years are securely disposed of, with this archiving process reviewed and carried out annually.

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Huntingdon Freemen’s Trust

Report of the Trustees for the Year Ended 30 April 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number 1044573

Principal address a7 High Street Huntingdon Cambridgeshire PE29 3AQ)

Trustees Nr J R Hough (Resigned June 7024) Mr B Bradshaw Nr B Luckham Nir Kearns (Appointed November 2024) Mrs K Parker (Chair) Mr O Jones (Vice-Chair) MrT Sanderson Mrs M Kadewere Auditors GH Audit Limited St George's House George Street Huntingdon Cambridgeshire PE29 3GH

Solicitors Roythornes Ltd The Incubator, Alconbury Campus, Huntingdan PEZS 444A

Surveyors Brown & Co The Fairways, Wyboston Lakes. Bedfordshire MK44 3.4L

Bankers Barclays Bank Pic Huntingdon Business Centre, High Street, Huntingdon, Cambridgeshire PE29 3AE

Clydesdale Bank (Virgin) 17? Bothwell Street, Glasgow, G2 FER

Fund Managers Rathbones Group Pic 30 Gresham Street, London, EC2V TON CCLA (COIF Charity Funds) 1 Angel Lane, London, EC4R 348

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Huntingdon Freemen's Trust

Report of the Trusteas for the Year Ended 30 April 2025

REFERENCE AND ADMINISTRATIVE DETAILS STAFF: Mrs Ruth Black Chief Executive Officer (Retired October 2024) Mrs Karen Bean Chief Executive Officer (From November 2024) Ms Kirsty Meadows Operations Manager (Joined September 2024) Ms Marija Obradovic Grants Officar Mrs Janice Smith Administrative Assistant (Retired September 2024)

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Huntingdon Freemen's Trust

Report of the Trustees for the Year Ended 30 April 2025

STATEMENT OF TRUSTEES* RESPONSIBILITIES

The Trustees 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),

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports} Regulations 2006 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the Trustees are required ta

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charitias Act 2071, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the board of trusteas on Jose pizere.... and signed on its behalf by:

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K, ; /, A fy
Trustee
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Page 17

Report of the Independent Auditors to the Trustees of

Huntingdon Freemen's Trust

Opinion

We have audited the financial statements of Huntingdon Freemen's Trust (the 'charity’) for the year ended 30 April 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a surmmary 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).

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 furlher described in the Auditors’ responsibilities for the audit of the financial statements sectlon of our report, We are independent of the charity 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 responsibilitias 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 préparation of the financial statements is appropriate.

Based on the work we have perormed, we have nol Identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concen for a period of at least twelve months from when the financial staternents 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 statamants 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 farm of assurance conclusion thereon.

In conmectian 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matlers where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 18

Report of the Independent Auditors to the Trustees of Huntingdon Freemen's Trust

Responsibilities of trustees As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such intemal contral 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 charity's ability to continue 45 a going Concem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do sa, Our responsibilities for the audit of the financial statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder, 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 quarantee 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 takan on the basis of these financial statements.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and nar compliance with laws and regulations, we considered the following: 1. The nature of the industry and sector, control environment and organisational performance 2, Key drivers for the remuneration policies, bonus levels and performance targets 4. Enquiries with management about their own identification and assessment of the risks of irregularities, 4. Motivations of Trustees and opportunity for undisclosed related parties 5. Audit team discussions regarding how and where fraud might occur and fraud indicators,

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 terms of misstatements was in relation 'o grant applications. In common with all audits under ISA's (UK), we are also required to perform specific procedures to respond to the risk of management override. We considered the risk of fraud in terms of misappropriation of assets and highlighted fraudulent payments as a focus area, In addition we considered the legal and regulatory framework that the Trust operates in, focusing on provisions of these law and regulations that had a direct effect on the determination of material amounts and discioguras in the financial statements. We also considered those laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the organisations ability to operate or toand avoidsafeguarding a materialregulations, penalty, these include Health & Safety Legislation and Charity public benefit, fundraising

Audit response to risks identified: A relatively large sample of grants approved by Trustees were reviewed for adherence to policies and controls as well as ensuring they align with the Governing Dacurnent and strategic direction. We made due enquiries and reviewed board minutes for indicators of fraud and departure fram laws and regulations, as well as remaining professional sceptical throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financia! Reporting Council's website at www. Report of the Independent Auditors. frc.org.uk/auditorsresponsibilities. This description forms part of our

Page 19

Report of the Independent Auditors to the Trustees of Huntingdon Freemen's Trust

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Colin Airey FCCA GH Audit Limited St George's House George Street Huntingdon Cambridgeshire PE29 3GH

Date: 15.01.2026

Page 20

Huntingdon Freemen's Trust

Statement of Financial Activities for the Year Ended 30 April 2025

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Endowment|30/4/25Total|30/4Total/o4| |Notes|funds|fund|funds|funds| |INCOME|AND|ENDOWMENTS|FROM|F|£|£E|£| |Donations and legacias|2|6,000|-|6,000|-| |Charitable|activities|4| |Rental|income|68,737|-|86,737|101,985| |Investment|income|3|542|643|-|542,843|919,004| |Other income|250,398|=|258,398|142,360| |Total|895.978|-|895.976|763,349| |EXPENDITURE|ON| |Raising funds|5|100,762|=|100,762|76,265.| |Charitable|activities|6| |Reliefin need|161,284|-|161,284|219,328| |Education|210,695|-|210,695|65,002| |Recreation &|leisure|75,578|:|F5,578|27,151| |Large grants|7,657|:|7,657|144,712| |Total|555,976|-|555,976|529,458| |Net gains/(losses)|on|investments|(33,687)|(134,425)|(165,112)|143,214| |NET INCOME/(EXPENDITURE)|306,315|(134 425}|174,890|417,102| |Other recognised|gains/(losses)| |Gains/(losses)|on|revaluation|of fixed assets|(45,000)|-|(45,000)|-| |Net movement in funds|261,915|(131,425)|125,890|417,102| |RECONCILIATION|OF FUNDS| |Tatal funds brought forward|1,531,896|18,007,087|19,538,983|19,121,881| |TOTAL FUNDS CARRIED|FORWARD|1,793,211|17,875,662|19,668,873|19,598,983|

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The notes form part of these financial statements

Page #1

Huntingdon Freemen's Trust

Balance Sheet 30 April 20275

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |30/4/25|S04 /24| |Unrestricted|= Endowment|Total|Tatal| |Notes|funds|fund|funds|funds| |FIXED|ASSETS|E|£|£|Fe| |Tangible assets|11|621,907|6,712,083|7|333,984|7,350,601| |Investments|12|671,853|10,998,302|11,670,155|141,726,489| |1,293,754|47,710,385|19,004,139|419,077,090| |CURRENT|ASSETS| |Debtors|13|38,472|-|38,472|16,309| |Cash|at bank and|in hand|630,228|165,277|795,505|695,935| |668,700|165,277|843,977|712,944| |CREDITORS.| |Amounts|falling|due|within|one year|i4|(169,243)|=|(169,243)|(250,351)| |NET CURRENT ASSETS|499,457|165,277|664,734|481,693| |TOTAL ASSETS|LESS|CURRENT| |LIABILITIES|1783211|17.875,662|19,668,873|19,598,983| |NET ASSETS|1,793,211|17,875,662|19.668.873|19,538|983| |FUNDS|15| |Unrestricted|funds|1,793,211|1,531,896| |Endowment funds|17,875,662|18,007,067| |TOTAL FUNDS|19,668,873|19,538,983|

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The financial statements were approved by the Board of Trustees and authorised for issue on white: aT Ar Ae aay .. and were signed on its behalf by:

==> picture [76 x 38] intentionally omitted <==

----- Start of picture text -----
4)
i iP ae,
Trustee
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The notes form part of these financial statements

Page 2?

Huntingdon Freemen's Trust

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----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Cash|Flow|Statement| |for the|Year Ended|30|April|2025| |Notes|B04£ (25|30/4/24£| |Cash|flows from|operating|activities| |Cash generated|from operations|1|(411,315)|(G76,283)| |Net cash|used|in|operating|activities|(441,315)|(876,288)| |Cash|flows|from|investing|activities| |Purchase|of tangible|fixed assets|(37,958)|.| |Sale|of tangible|fixed|assets|-|165,277| |Interest|received|542|B43|519,004| |Net|cash provided|by investing|activities|510,885|684|231| |Cash|flows|from|financing|activities| |Income|attributable|to endowment|-|142,360| |Mot|cash provided|by financing|activities|-|142,560| |Change|in|cash|and|cash|equivalents| |in the reporting|period|99,570|150,353| |Cash|and|cash|equivalents|at|the| |beginning|of the reporting period|695,935|545,582| |Cash|and|cash|equivalents|at the|end| |of the reporting|period|795|505|695,935|

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The notes form part of these financial statements

Page 23

Huntingdon Freemen's Trust

Notes to the Cash Flow Statement for the Year Ended 30 April 2025

1. RECONCILIATION OF NET INCOMETO NETCASH FLOWFROM RECONCILIATION OF NET INCOMETO NETCASH FLOWFROM OPERATING ACTIVITIES OPERATING ACTIVITIES
30/4/25 a0/4/24
£ £
Net income forthe reporting period (as perthe Statement of
Financial Activities) 174,890 417,102
Adjustments for:
Depreciation charges 3,635 -
Losses/(gain)on investments
Profilon disposal offixed assets		 66,334
-		 (126,761)
(142,360)
Interest received
Incomeattributable toendowment
(Increase)decrease indebtors
Decrease in creditors		 (542,643)
-
(22,163)
(81,168)		 (519,004)
(142.360)
31,640
(194,545)
Netcash used in operations (411,315) (676,288)
2. ANALYSISOFCHANGES IN NETFUNDS
At 1.5.24 Cash flow ALSO.4.25
£ £ E
Net cash
Cash at bank and in hand 695,035 69.570 795,505
695,935 99,570 795,505
Total 695,935 99.570 795,505

The notes form part of these financial statements

Page 24

Huntingdon Freemen's Trust

Notes to the Financial Statements for the Year Ended 30 April 2025

  1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have beer 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets,

Income

All income is recognised in the Staternent of Financial Activities once the chanty has entittement to the funds, it is probable that the income will be received and the amount can be measured reliably.

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 reguired In settlement and the amount of the obligation can be measured relia bly. Expenditure is accounted for an an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Raising funds

Realised and unrealised gains and losses on investment assets are recorded in the Statement of Financial Activities,

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, Freehold property - fot provided No depreciation is provided on freehold buildings, as itis the charity's policy to maintain these so as to extend their Useful lives.

Purchases are capitalised if the trustees believe that the asset has a useful economic life of more than one year and cost at least £500. They are valued at historic cast,

Scooters, wheelchairs, lifts, computer equipment and orthopaedic beds and chairs have been written down to a nil value in the year of purchase as in the opinion of the Trustees these assels, while remaining the property of the Charity, have no residual value, These assets are subsequently removed Irom the fixed asset register when il is considered that the extent of their useful life has been reached or the ownership of the asset has been formally transferred.

Taxation

The ¢harity is exempt from tax on its charitable activities,

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discrotion 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 wher funds are raised for particular restricted purposes.

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continued...

Huntingdon Freemen's Trust

Notes to the Financial Statements - continued for the Year Ended 30 April 2025

1. ACCOUNTING POLICIES - continued

Fund accounting

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investment assets

Investments are shown in the accounts at their market value at the balance sheet dale and (he incame arising in the year is shown in the Statement of Financial Activities. Land held as investments is professionally valued every five years.

Reallsed and unrealised gains and losses on investment assets are recorded in the Stalernent of Financial Activities,

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2. DONATIONS AND LEGACIES
SO/4i25 S04f24
Gifts 6,000£ £ -
3. INVESTMENT INCOME
30/4/25 S04 /24
E £
Bank interast 16,696 14,860
Rathbones Portfolios 926,145 o04, 144
542,843 519,004
4, INCOME FROM CHARITABLE ACTIVITIES
Activity S0/4/25E 0/4/24£
Rentals from land &
property (including
wayleaves) Rental income a4,274 fr 2g2
Office rent Rental income 4 464 _ [24,693]
6,737 101,985
5 RAISING FUNDS
Other trading activities
30/4125 30/4/24
£ E
Investment Management Fees 47,249 55,796
Property management 35,013 20,469
Bad debts 6,500 -
400,762 76,265
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continued...

Huntingdon Freemen's Trust

Notes to the Financial Statements - continued for the Year Ended 30 April 2025

6. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 7) note 8) Totals
£ £ E
Reliefinneed
Education		 128,373
127,736		 31,971
82,959		 161,254
210,695
Recreation & leisure 70,473 6,105 75,578
Large grants - 7,657 7,657
o2/ 5d? 127,632 465,214
T. DIRECTCOSTS OF CHARITABLEACTIVITIES ACTIVITIES
0/4/25 30/4/24
£ E
Grants payable 324,947 307,295
Provision of mobility aids 2,635 6,241
327,582 313,536
8. SUPPORT COSTS
Grant
making
£		 Govermance
£		 Other
costs
£		 Totals
5,
Relief inneed
Education
Recreation & leisure
Large grants		 18,424
47,889
2,947
4,420		 10,406
27,059
1,665
2497		 3,082
8,074
493
T40		 31,911
82,959
6,105
¥,657
13,677 41,629 12,426 127,632

Activity Basis of allocation Management Number of grants in year Finance Number of grants in year Information technology Space utilisation Human resources Space utilisation Grant making Number of grants in year Governance Number of grants in year Other casts Number of grants in year

Page 27

continued...

Huntingdon Freemen’s Trust

Notes to the Financial Statements - continued for the Year Ended 30 April 2025

a. SUPPORTCOSTS - continued
Support costs, included in the above, are as follaws:
Relief in Recreation
need Education & leisure
Staff
costs, includingrecruitment&
travel
Advertising & awareness
Insurance
Office rent, rates, light&heat
Telephone
Depreciation oftangiblefixed assets
CEO fees
Auditors' remuneration
Payroll &bookkeeping
Printing, postage &stationary
Repairs &Renewals
Sundries
Legal fees		 £
44,358
6
4,683
2,010
289
66
6,690
2,060
2,158
&2
af?
1,403
675		 E
37,529
12
4.400:
6,250
750
168
14,792
6,656
5,614
212
? 396
3,648
1,755		 £
2,297
1
2? 4
322
46
10
a10
410
345
13
147
225
108
31,911 82,959 5,105
Large
grants		 S0v4/25
Total
activities		 30/4/24
Total
activities
Staff
costs, Including recruitment&
travel
Advertising &awareness
Insurance
Office rent, rates, light& heat
Telephone
Depreciation of tangible fixed assets
CEO fees
Auditors’ramuneration
Payroll &bookkeeping
Printing, postage& stationery
Repairs& Renewals
Sundries
Legal fees		 £
3,446
1
406
483,
69
16
1,365
614
518
20
227
437
162		 £
57,430
19
6,770
8,045
1,164
259
22,757
10,240
8,632
327
3,666
5,613
2,700		 £
$6,123
160
5291
18,934
1,412
-
18,575
9,700
8,060
1,008
1327
10,486
8,581
7,657 127,632 139.657
  1. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 April 2025 nor for the year ended 30 April 2024.

Trustees’ expenses There were no trustees’ expenses paid for the year ended 30 April 2025 nor for the year ended 30 April 2024.

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continued...

Notes to the Financial Statements - continued for the Year Ended 30 April 2025

Huntingdon Freemen's Trust

10. STAFF COSTS

The Trustees delegate day to day operational management to their CEO, who works part-time and was paid a gross salary of £22,757 during the financial year (2024: £18,575]

The average monthly number of employees during the year was as follows:

Governance S04i265
{		 30/4/24
4
Charitable Activities a 3
4 —_=
No employees received emoluments in excess of£60,000.
TANGIBLE FIXED ASSETS
Freehold
properly
£		 Plantand
machinery
£		 Mobility
Scooters
E		 Camputer
equipment
£		 Totals
F
COST OR VALUATION
At
1 May 2024
Additions
Revaluations		 7,350,601
6,000
(45,000)		 -
1740
:		 -
23,196
-		 1,907
1,022
-		 7,952,508
31,958
(45,000)
At 30 April2025 7,311,601 1,740 23,196 2,929 7,339,486
DEPRECIATION
At
May2024
Charge for year		 :
=		 -
174		 -
3,916		 1,907
85		 1,907
a.ore
At30 April2025 - 174 3,316 1,992 5,482
NET BOOK VALUE
At30 April 2025 7,411,604 1,566 19,680 g37 7 333,964
At30April2024 7,350,604 - = 7 ¥350,601

Included In cost or valuation of land and buildings is freehold land of £7,350,601 (2024 - £6,242.763) which is not depreciated.

The properties held as investments, were re-valued as at 30 April 2022 by Robinson & Hall LLP, Chartered Surveyors. All independent valuations were made on the basis of open market value for current use, During the year additions were made totalling £6,000 in respect of historic land that had been valued in the year,

The trustees are not aware of any significant changes since the valuation.

The historical cost of the assets forming the permanent endowment of the Charity has not been included as the original cost (if any) is unknown and as the land can not be sold, an open market value can not be obtained.

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continued...

Huntingdon Freemen's Trust

Notes to the Financial Statements - continued for the Year Ended 30 April 2025

12. FIXED ASSET INVESTMENTS

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----- Start of picture text -----
|||||| |---|---|---|---|---| |Unlisted| |investments| |MARKET|VALUE|£| |Atd|May 2024|11,726,489| |Revaluations|(56,334)| |At|30|April|2025|11,670,155| |NET|BOOK VALUE| |At 30|April 2025|11,670,155| |At|30 April|2024|11,726,489|

----- End of picture text -----

There were no invastment assets outside the UK.

All investments area carried al their market value, Investment in equitias and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds, unit trusts and open ended investment companies are al the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value}, The historical cost of the permanent endowment when gifted to the Charity is unknown.

Only the income received during the year is made available for drawdown, and therefore forms the budget for approving grant applications.

During the year the Trustees chose to drawdown £360,000 [2024; £300,000], In deciding on the amount to transfer to income, the trustees took the advice of their investment advisors, Rathbone Investment Management, as to the likely investment trends and the sustainability of the investment fund after considering various levels of transfer to income.

  1. DEBTORS

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----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |SON4/25|504/24| |Amounts|falling|due|within|one|year:|£|£| |Sundry|debtors|and|prepayments|30,920|7,889| |Amounts|falling|due|after more|than|one|year;| |Other|debtors|7,|bS2|4,420| |Aggregate amounts|38,472|16,309|

----- End of picture text -----

Page 30

continiied,..

Huntingdon Freemen's Trust

Notes to the Financial Statements - continued for the Year Ended 30 April 2025

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/25 30/4/24
£ £
Grants payable 148 084 222,509
Trade creditors 1,607 1,444
Taxation and social security 934 435
Other creditors. 18,428 25,923
169,243 200,351
15. MOVEMENT IN FUNDS
Net
movement At
At 1.5.24 in funds 30.4.25
£ £ £
Unrestricted funds
General fund 1,534 8o6 261,315 1,793,211
Endowment funds
Endowment 18.007.087 (131,425) 9 17,875,662
TOTAL FUNDS 19,536,983 129,890 19,668,873
Net movement in funds, included in the above are as follows:
Incoming
resources		 Resources
expended		 Gains and
losses		 Movement
in funds
£ £ £ £
Unrestricted funds
General fund 895,978 (555,976) (78.687) 761,315
Endowment funds
Endowment = = (137,425) (131,425)
TOTAL FUNDS 885,078 (555.976) (210,177) 129,890
Comparatives for movement in funds
Met Transfers
movement between At
At1.5.23 in funds funds. 304.24
£ F £ £
Unrestricted funds
General fund 1,994,831 2412406 (72,344) 4,531,896
Wellbeing Support fund 44,136 (133,333) 65,197 :
1,435,967 79,073 16,856 1,531,896
Endowment funds
Endowment 17,685,074 338,029 (16,856) 18,007,087
TOTAL FUNDS 19,121,881 417,102 - 19,538,983
Page31 continued...

Huntingdon Freamen's Trust

Notes to the Financial Statements - continued for the Year Ended 30 April 2025

15. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ F £ £
Unrestricted funds
General fund
Wallbeing Support fund		 620,989
-		 (396,125)
(133,333)		 (12,458)
-		 212,406
(133,333)
620,989 (529,458) (12,458) Fo,073
Endowment funds
Endowment 142,360 - 195,669 336,029
TOTAL FUNDS f63,349 029,453) 183,211 417,102
A current year 12 months and prioryear 12 months combined position is as follows:
Net
movement		 Transfers
between		 Al
At 1.6.23 in funds funds 30,4,25
E £ E £
Unrestricted funds
General fund 1,391,834 Ava 721 (72,344) 91,793,211
Wellbeing Support fund 44.136 (133,333) ag,197 =
1,435,967 340,358 16,656 1,793,211
Endowment funds
Endowment 17,685,914 206,604 (16,856) 17,875,662
TOTALFUNDS 19,121,881 546,992 - 19,666,873

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming
resources		 Resources
expended		 Gains and
losses		 = Movement
in funds
£ £ E £
Unrestricted funds
General fund 1,516,967 (952,104) (81,145) 4fafe2d
Wellbeing Suppart fund - (133,333) - (133,333)
1,516,967 (1,085,434) (91445) 340,388
Endowment funds
Endowment 142,360 - 64,244 206,604
TOTALFUNDS 1,659,327 (1,085,434) (26,901) 546,992

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continued...

Huntingdon Freemen’s Trust

Notes to the Financial Statements - continued for the Year Ended 30 April 2025

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 April 2025,

Page 33

Huntingdon Freemen’‘s Trust

Detailed Statement of Financial Activities Detailed Statement of Financial Activities
forthe Year Ended 30 April 2025
SO/4/26 S04(24
E £
INCOME AND ENDOWMENTS
Donations and legacies
Gifts 6,000 -
Investment income
Bank Interest
Rathbones Portfolios		 16,698
526,145		 14,660
504,144
342,845 919,004
Charitable activities
Rentals from land & property (including
wayleaves) 84,274 7? 292
Office rent 4,463 24,693
a6,7ay7 101,985
Otherincome
Gain on sale oftangible fixed assets - 442,360
Exceptional Income 2og,ooo =
258,398 142,560
Total incoming resources 895 978 763,349
EXPENDITURE
Othertrading activities
Investment ManagementFees 57,249 55,796
Property management 95,013 20,469
Bad dabts 6,500 -
100,762 76.265
Charitable activities
Grants payable 324,947 307,295
Provision ofmobility aids 2,635 6,244
327 582 313,536
Support costs
Grant making
Staffcosts, including recruitment& travel 57,430 66,123
Advertising & awareness 19 160
Insurance
Office rent, rates, light & heat
Telephone		 6,770
6,045
1,154		 5,251
18,934
1412
Plant and machinery 174 -
Carriedforward 3,592 61,970

This page does not form part of the statutory financial statements

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Huntingdon Freemen’s Trust

Detailed Statement of Financial Activities for the Year Ended 30 April 2025

for thethe Year Ended 30 April 2025
30/4/25 30/4/24
E £
Grant making
Brought forward 73,592 841,920
Computer equipment 89 ie
73,677 81,920
Governance
CEO fees 22,757 18,575
Auditors’ remuneration 10,240 9,700
Payroll & bookkeeping 6,632 4,060
41,629 36,335
Other costs
Printing, postage & stationery 327 1,008
Repairs & Renewals 3,686 1,327
Sundries 5,613 10,486
Legal faas 2,700 8.584
12,326 _21,402
Total resources expended 955,976 529,455
Netincome 340,002 233,891

This page does not form part of the statutory financial statements

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