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Charity registration number 1086183 Company registration number 04089288 (England and Wales) HALIFAX OPPORTUNITIES TRUST ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 HALIFAX OPPORTUNITIES TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trusteés ZAAII H J Barber L Burrows R J Craven A Hamid H L Hunter S Hussain T Male G Rhodes R M Swe8ney {Appoinled 16 November 20231 Chalr Vice Chair Treasurer H J Barber R J Craven L Burrows Secretary A Haskins Sensor managernent S Nazar J Bell A Hussain C Parkinson F Gilling M Ciewiertnla J Graham Group Finance Lead Business Cenlres Lead (Up lo 3115124) - Community Programmes Lead Children and Familles Lead Mark81ing and Communications Lead (Up lo 1513124 Qualily and Systems Lead Chief Operating Officer (Up lo 1918124) Chlef Exocutlvg A Haskins Charlty number 1086183 Company number 04089288 Sorvlce addross Elsie Whileley Innovallon Cenlre Hopwood Lane Halifax Wesl Yorkshire HX15ER Registered office Hanson Lane Enlerprise Centre Hanson Lane Hallfax Wesl Yorkshire HX1 5PG Auditor BK Plus Audit Limited 52 Sl Johns Lane Halifax West Yorkshire England HX128W HALIFAX OPPORTUNITIES TRUST LEGAL AND ADMINISTRATIVE INFORMATION Bankers Unity Trust Bank 9 Brindley place Birmingham 812HB Solicltors Finn Gledhill 1-4 Harrison Road Halifax Wesl Yorkshire HX12AG HALIFAX OPPORTUNITIES TRUST CONTENTS Pag Trustees, report 1-20 Independent audilor's report 21-24 Consolidated Slalement of financial acllvili8S 25 Group and Charity B81ance sheet 26 Consolidated Statement ol cash Ilows 27 Notes lo the consoliclaled financial slalem8nts 28-49 HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Irusle8s present their annual report and financial slatemenls for the year ended 31 hAarch 2024. The financial statements have been prepared in accordance with Ihe a¢Gounling policies sel out in note 1 to Ihe linancial statements and comply with the Charity's governing document. the Cornpanies Acl 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" {effe¢live 1 January 20191. Oblectlves and actlvltles Halifax Opporlunities Trust (HOT) has the following objects, which are registered and approved by the Charily Commission.. To promote any charitable purpose for the benefit of the inhabitants of the melropolilan district of Calderdale in th8 county of West Yorkshire and surrounding areas within a radius of 30 miles from Hallfax Town Hall, including bul nol excluslvely the area known as Park Ward in the Melropolilan Borough of Calderdale lo ensuro the regenerallon of those ar8as for the public benefit of Ihe community. by all or any of the following means.. the relief of poverty in such ways as may be Ihoughl lit., the r81ief of unemployment., the advancement of education, tralning, or r8-Iraining, parlicularly amng unemployed peopl8 and providing Work experience for the unemployed-, Ihe provision of financial assistance, technical assistance, business advice or consultancy in order lo provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help in setting up their own business or lo exisling businesses: the creation of training and employment opportunities by the provision of workspac8, buildings andlor land for use on lavourabl8 terms; the provision of recreational facilities for the public al large or those who by r8ason of Ih8ir youth, age, Infirmity or disablernenl, poverty or Social and economic circumstances. have need ol such lacililles; the protection or cons8rvalion of the environmènl., the provision of childcar8; the promotion of public safely and prevention of crime- and the provision of public health and well-being aclivilies., and such other mean5 as may from lime lo lime be determined subject lo the prior consent of the Charity CommSssion. dl gl h) The Iruslees, in making decisions about planning and delivery of aclivilies. have had due regard lo Ihe Charity Commission's public benefit guidance when exercising any POW8fS or duties lo which the guidance is relevant. The approach to publlc benefit is describ8d In summary below and in mole detail Ihroughoul this report. HALIFAX OPPORTUNITIES TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Halifax Opportunlty Trust's purpose as described in ils Slralegic Plan is 'lo work lo make a vibrant mulli-cullijral and self-suslaining communily,. In Ordèr lo achieve Ihls. the Trust and ils trading subsidiary (HOT Enterprises Ltd) carries out Ihe following activities.. provides office space and support for business and enterprise development through busin6ss cenlres. provides opportunities for leafning via a range ol apprenticeships. ESOL provision, life skills and integration for new arrivals lo the UK. provides assistance lo job seekers by working with employers and through employment supporl inilialives. provides childcare and family support through the Upp8r and Central Calderdale Family Hubs and other proje¢ls. provides support for physical and mental wellbeing by running social activities, ne￿orkS and community groups which encourage socializalion and lake up of new hobbies and aclivi118s. promotes community and wellbeing via the Outback community kitchèn garden and prolècls aimed al encouraging aclive, healthy lifestyles. provides community developmenl support via the outreach aclivilies of Community Ofganisers The Board r8views the Charity's objectives and areas of operation periodically. For the year under revi8w12023.24) il is agreed that priority intervenlions should continue lall into six main areas over Ihe next year.. Support èn16rprise, business slart-up and growth Help local peoplo into employment Support and deliver work-based learning Support children and families Suppori and promote community and wellbeing Support inclusive inlegralion of new arfivals lo the UK Th8 board conllnu6S to explore acquisition of new propety {lo support the areas above and also lo support the Trust's suslainabililyl. This includes bulldings in which lo provide decent housing. deliver community activity and provide space for enterprise. The Iruslees believe the strategy for achieving these objectives should continue to be through programme and projecl dellvery primarily using a social enterprise model. This is achieved on either a conlracled full-cosl-recovery basis or through our own commercial Ifading oparalions, thereby allowing Ihe infraslruclure of Ihe Charity lo be maintained whilst achieving the designated charitable objeclives. The Trust does seek grant incom810 enabSe the start-up of new projects or inilialives, with the usual airn of ensuring these are self-suslaining via trading once eslablish8d. Public benefit Thè Iruslees confirm Ihal Ihey have each complied with their duly under section 4 of Ihe Charities Act 2006 to have due regard lo Ihe guidance on public benefit published by the Charity Commission when Carrying out their role and duties. HOT operates in disadvantaged areas. providing mulliple economic, social and environmental benefi15 10 individuals in those areas. The Iruslees be11eve Ihal publiG benelil has b8en achieved Ihrough the provision of support lo local businesses, indlviduals, community members and families via this diverse programme. This has provided multip18 aconomic, social, and environmental benefils to the individuals reached by the Charily'5 activities. Details of our support are sel out in this report. HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Tho Charity's main programmes, project5 and Services are- 11) Support enterprise. buslness start-up and growth This is mainly aGhieved through the Trust's trading subsidiary company HOT Enterprises Ltd, which runs Hanson Lane Enterprise Cgnlre (HLECI and Elsie Whileley Innovation Centre IEWICI. EWIC provides office space and meeting rooms and HLEC provides light industrial units and a smallér amounl of office space. The Trust offers an 18 month granl to start up and early trading businesses which subsidises Ih8ir rent. The business cenlres also act as a focal point for physical r8gen8ralion and community cohesion in Park Ward, with 8 r8gular busin8ss ￿e￿orkIng event being held al EWIC. 121 Help local people into employment The Trust provides practical. holistic and crealive support lo people looking for employment, especially those who are disadvantaged in the labour mafkel. The Trust provides this through a key worker model which enables 5UPPOrt lo be customised around an individual's needs and delivered on a one-to.one basis. An importanl part of the service is pro- acllve engagement with local employers lo source vacancies lo assist unemployed people back inlo work. 13) Support and dellver work-basod learnlng Hallfax Opportunities Trusl is a wg11-8slablished learning provider in Wesl Yorkshire, delivering work-based apprenticeships. We are currently working with a rango of employers including primary and sécondary Schools and childcare providers across Wesl Yorkshir8 off8ring qualifications in learning support, early years and business administration. Our apprenticeship provision is directly iegislered with OFSTED and we are accredited with the Matrix standard. (4) Support chlldren and famllSeg HOT has developed and delivered a range of community-based services for famili85 wilh young children in Calderdal8 for many years. The services are run from five neighbourhood Family Hubs and also from local community venues. The Hubs are busy and informative venues and are well used by parents in the community. The Hubs support families in many ways helping Ihem improv8 their health, parenting. employability, their 8ducalion, famlly safely and provide excellent childcare. For part of the year under review, Ihe Trust also ran ils own nursery (Lillle Gems) which was based al Hanson Lane Enlerprise Centre and was closed in July 2023. All nurseries run by the Trust have received Good or Oulslanding inspection results from OFSTED. (51 Support and promote ¢ommunlty and wellbelng Health and wellbeing oul¢omes for residents of Park Ward and other areas where HOT operates compare badly with Ihose of the more prosperous parts of the borough. In respons8 lo this in&quallly. HOT has increasingly been delivering activities which help improve social connections, nulfilion and physical activity. Many activities run via the Family Hubs educate parents and families about breaslf8eding and healthy eating. In addition, the Trust runs a Slaying Well programme aimed al adults in the community, especially those who are experiencing isolation and loneliness as a result of their age, mild mental ill-heallh or limiting medical conditions. The Outback community garden and kitchen helps people connect via gardening and healthy. nulrilious food. The Trust also carries out 'gTeening' aclivity al ils Family Hubs and business cenlres, by planling flowers, vegetables and fruil lo creale pleasant gnvironmenls arsd Contribute positively lo these communily settings. Finally. we have an ambitious plan to bring a wo11-lovad local community centre back into use and to purchase emply properties to refurbish and bring back into use as family homes. {61 Support Incluslve Integratlon of new arrivals to the UK Calderdale has a long and proud history ol welcoming new arrivals into Ihe borough. HOT supports Ihis by delivering ESOL courses, embedded within an inclusion approach which enables new arrivals lo learn how the UK functions. This includes access lo public services.. history & herilage.. government,. culture & leisuie-, and social aclivilles. HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢hlevements and performan¢e Specific activities and achievemenls from April 2023 to March 2024 fof each objecllve are described below. In addition lo the information provided under each thematic area of Wofk. This year we are focussing the review of aclivilies on our Community & Wellbeing and Inclusive Inlegralion work. wilh briefer information about the other areas of our charitable aclivily. (11 Support enterprlse, buslness start.up and growth As al April 2024, Elsie Whileley Innovation Centre and Hanson Lane Enterprise Centre both had occupancy levels of 900/0. which meant Ihal both woro meeting marketing largels. HOT Networking, our free business networking event continued lo run successfully over Ihe year, covering topics such as 'Looking Aflef Your T8am'; 'P8rf&cl Your Pitch,; 'Gelling Paid on Time, Every Time,: and 'Overcoming Presonling Nerves,. Each session allracled around 20 networkers. {2} Help local people into employment The Employm6nl Services team has taced 8 challenge over Ihe reporting period due lo a difficult funding landscape. These challenges direclly impactgd the team's ¢apa¢ity. wilh two staff members being made redundant, leaving just one 8mploymenl advisoT lo deliver our services. Despi18 this reduction in staffing and the resulting pressure on resources, we have continued lo provide vital supporl lo individuals seeking employmenl, Although the reduclion Sn staff has inevitably affected our ability lo maintain previous levels of support and employment outcomes, we are proud lo report Ihal we have still managed lo suppori over 100 individuals, with 39 successfully rnoving inlo good quallly & sustainable employment and more into training & education. This demonstrates the resilience of the team and the importance of Ihe services we provide. even under constrained circumstances. Despite delays, we hav8 made progress in eslabllshing Ihe necessary Pfocessos for the Youth Mentoring project, including the recruilmenl, training and malching of 9 Mentors lo their Menlees. The project aims lo support younger people from The Halifax Academy through malching them with professional mentors from across the region. Securing additional resources lo enable this projecl lo continue remains a key focus. Unsurprisingly, given Ihe information above, other key management activity has been to secure lurther funding lo ensure the suslainabilily of our minimised 18am. Current capacily has be8n protected and opportunitie5 to expand explored, so that we can once again meel the ongoing demand for our seNices more comprehènsively. WhSle the past year has undoubtedly been challenging. Ihe Employmenl S8rvic&s team has remained commilt&d to ils misslon of helping individuals secure meaningful employment. With conlinued efforts lo secure additional funding and resources, we are confident that we can rebuild and expand our team. ensuring Ihal more people are supported on their journey to employment in Ihe coming year. 131 Support and dellver work-based learnlng The highlight of 2023124 was thè achievement of an Ofsted 'Good' grading in a full inspection which was conducted in November 2023 To enable this, the Apprenticeship provision focused on key quality improvements, employer engagement and collaborations with large locally-based businesses. We also continued lo build positive partnerships with local businesses which provided levy transfer funding lo enable local SMES and charities to recruit apprentices. As of April 2024 w8 had 68 learners on provision and a steady completion rate, including significant numbers of appr8nlicos achieving an 'Oulslanding' grade. The qualifications offered by HOT include Level 3 Business Admin, Level 2 Early Years Praclitioner, Level 3 Early Years Educator, Level 5 Early Years Lead Practitioner and Level 3 Teaching A5515lanl. HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 141 Support chlldren and families HOT has developed and delivered a range of communily-based sesvices for families with young children in Calderdale for over 21 years. These services. operating from Family Hubs (previously known as Children'5 Cenlresl and community venues. havè mostly been delivered in partnership with Calderdale Council via conlraclual agreement. During the year under rèview. lh8 Trust worked closely with CMBC and other partn8rs to 8slablish and progress the work of the Starting Well 8oard and the launch of Family Hubs on 12th September 2023 al Jubilee Family Hub wilh 240 individuals allending. The Family Hubs provide a one stop shop, for families. bringing together all Ihe support a family may need from pregnancy lo young people turning 19 lor 25 for children with Special Educalional Needs and Disabllilies). Thls is done by SUPPOrting families with.. The challènges of becoming a new parent Building loving and responsive relationships Inlanl feeding Speech and Communicallon Play al home Access lo support services for young people Acllvilles such a$ baby massage, baby groups and slay and play sessions Peer support for parents and carers including dads and partners and those families with chlldren who have SEND needs Increased access lo di9ilal resources and information. During 2023-2024.. 4731 families were provided with advice and 5UPPOrt 2072 families were si9nposled or given advice aboul family lifo issue5 1473 families allended our universal groups 509 families have accessed our holiday activities for families with children aged 0-8 years old 594 people have been supported lo understand the benefits of breaslfeeding and supported lo maintain Ihis 847 dadslmale carers have accessed services 127 children accessed one of our 3 nursery sellings (Todmorden, Siddal and Jubileè) 62 people have recelved specific advice and supporl around their manlal ill health 46 families have received specific speech and language supportladvice In Q3 we piloted a group lo support families around neurodiv8rslty. In Q4 we successfully engaged with 5 such families. Parents commented that allending was "like havin9 a lightbulb moment" in understanding their children. Neurodiversily training has also been deliVe￿d lo 28 slaff. 95 10 of families felt that by attending the Family Hub Services their parenting skills had improved 87 /0 of families reported Ihal by allending Family Hub Services their family's h8allh and wellbeing had improved 89 /0 of families reported that by allending Family Hub SeNic6s, Iheir child's development had improved and they were developing the skills required to be ready for school. 15) Support and promoté communlty and wellbelng HOT runs a range of projects and aclivilies undeT thi5 Iheme. One of our key programmes is called Slaying Well which we have run for 8 years, working collaboralively with local partner agencies and communily members promoling wellbeing and social aclivilies in Halifax and surrounding afeas. In January 2024 we launched Ihe Apna Slaying Well HUB al Hanson Lane Enterprise Centre wllh new activities that have been coproduced wilh particlpanls who allend the HUB. Apna is a word used in many South Asian languages lo describe "my own" or'our own" The idea was to give local residenls a feeling of something that belongs to them and to use Ihe community space where they feel safe and build on social connections. We have received positive feedback sinc6 the op8ning of our new space with many community members reporting feeling welcomed, happy and being a partol something positive. Slaying Well supports people by providing people with individualised support and group-based activities. In Ihe last year we have supported around 115 individuals via one-topone interventions. Slaying Well groups and activities include= HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Arts Grou and Knit & Naller The group participants regularly attend the weekly sessions and have built social connections with one another. Partlcipanls feel an integral part of the group and Pfovide each other wilh emotional and practical support and guidance. The groups give participants a s&nse of belonging and something lo look foNard too. Many participants report feeling safe, prolecled and welcomed. As this is a diver58 group of differew)I religions, failhs, cultures and beliefs il allows diverse cultures to come together and promote cross-cullural awareness. YaadÈin reminiscence Grou The Yaadein Group have been going for walks on Wednesdays regularly to the Outback garden. People's Park and Savila Park. The group are really keen lo participat8 as the physical activity lifts their mood. Visits lo the Oulback have been particularly successful and Yaadein group participants have shown an intere51 in gaining access lo a plot lo grow their own fresh produce. Thè group also visited the beehives at The Outback and were fascinated in the honey-making process and ar8 looking forward lo sampling the honey once il has beon collected. The group also really enjoy learning about the growing condilionslprocess in Ihe greenhouse and how this enhanced growth of the lomaloes, aubergine and cucumbers in comparison lo the environment outside. Some participants wish lo volunteer at the Outback lo promot6 their emotional and physical wellbeing. H Ilfax Mlnster Summer Festival Tea dance Staying Well parllcipanls were invited lo the annual Summer Festival al Halifax Minster which wa5 aimed al people Ihal are lonely and isolated. The event included afternoon lea. music and dance arKI enabled Slaylng Well partlclpanls lo gel lo know other members of the community who allended the event. The dancing was popular and pushed individua15 OLII of their comfort zone bul increased Iheir confid8nce and emotional w&llbeing. Also, for many participants il was their first social outing posl-covid. For rnany individuals il was their first timè al the Halifax Minster. The Summer Festivals was Culturally inclusive Iheiefore il was welcoming lor all. Tandrusti Pro ecl The Tandru51i proje¢l ralsed awareness In the Park Vvafd community about diabetes and the health risks associal8d lo diab8188. We successfully did this by.. Promotlng positive life-style changes Ihat will mitigate the risk of developing Type 2 diabetes. Professionally challenging the misconceptions and mylhs in relation to diabetes that are common in the South Asian community and lo educate the facts about Type 2 diabetes. Developing slralegias and inlervenlions working with the comrnunily to prevent and manago dlabeles tailoring Ihe dellvery and inlervenlions lo meet Ihe specific The South Asian comrnunity are particularly vulnerable to developing type 2 di8bèles.11 is eslimaled by Dlabeles UK that life expectancy of a person with type 2 diabetes is likely lo be reduced by 10 years. The Tandrusli projecl delivers both practical and Iheory-based diabetes awareness and pr&venlion sessions. The Iheory-based model is via an inleraclive presenlalion Ihal is visually slimulaling and works for individuals at all levels of English language. The practical sessions arg in collaboration with Ihe Outback where there is a 'show me, session where South Asian cuisine dishes are cooked in a healthier a118rnativ& way lo promole healthier lifestyle Ghoices. During the period of April 2023- April 2024 the Tandrusti project engaged 101 BAME women from Park ward running diabetes awareness sessions al various locations in Park Ward and beyond within Calderdale. A number of people are now active as diabetes champions within Ihe community and have made posiliv8 lifgslylo changes. HALIFAX OPPORTUNITIES TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Tandrustl Case Study Soema was dlagnosed with type 2 diabgles on8 year ago, She experienced symptoms such as welghl los$, feellng tI￿d and frequent passing of urine. After seeking medical help. S8ema received 8 HBA Ic blood fesl, which Indicaled that her sugar levels were loo hlgh and led lo her needing insulin for six months. Due lo her health Sgemo was struggling and want8d help and support with sleps to improve and manage her diabet8S through di8t and ex8ruse, °When I was diagnosfjd with Type 2 éiobetes I knew I have lo make some ch8nggs,° Tho Tandrustl diabet9s workshops are dejlvered at HOT sites, Hanson Lan8 Enterprfse Centrg and the Outback Community Klt¢hen and Garden. Seomo bgc8me aware of Ihe workshops through her En91ish c18sses Ihat she attends at Hanson Lane Enterprise Cenlre. Se8mo was very keen to altend the workshop because they are deliveredin tlpe rnlgvant language she Speaks, whlch is Miry)uri. Previously, she slruggl8d to understand the advice she was glven dufr to her language barri8r 8nd It wes too Gllnical. She wanted advioe that Is culturally lailor8d.-. When Se8ma 8ttended the Tandrusti dieb8tes workshop she started to 8ngage and Inleracl wilh other paitlGipants confidently. Sh8 lalked openly aboul hercondillon and howithas effectedharlifv. Forseema. the workshop mofivated her to impmve and manage her diab81gS through diet and eXe￿Is9. She has given up sugar In her hol drinks, given up flzzy drinks, tsdu¢ed carbohydrales, has more fwit and vegetables. Sh8 also uses ollvg oil, has more prolein and grilled food in her dlel, as well as being physically more aclive. walklng five miles a day. S88ma Is mollvaled and h8S the wlllpower to manage her dlabetes thmugh lifeslyle changes such as diet and exe￿iSe. Thmugh the worf(shop Seeme has also beGom8 more 8ware that moking a f8W SITmplè changes in h8rlifestyle can help to avoid the serfous heallh compllcations that diabetes can causg. such as n8Ne, kidney and heart damage, She a150 highligh19d that due fo the highèr risks for Soulh Asian people, il is importanl from the age of 25 to ge¢ tested for a HBA1¢. She now says,. .1 stmngly advi86 anyone from a Soulh Asian background to gel tested ft)r Typ8 2 diabales onGe they ere 25. Knowing the rlsks and how to manage Ihem through lilgslyle Gan make so much differènc8 and prevenl Type 2 fmm dgveloplng." The Outback Kitchen and Garden Our other main wellbeing acllvity is our beautrful community garden and kilchen called The Outback, Due lo ongoing demand from local communities, in 2023-24 we expanded and increased heallh and wellbeing focused activities al the garden. Funding Irom the NHS Creative Minds progfamme enabled us lo offer 3 Gardening for Wellbeing courses providing opportunlties for people accessing community mental heallh services to engage in nature based and gardening activities lo improve wellbéing. W8 were also successful in our applicalion lo the D'oyly Carte Foundation for a grant lo dellver social and Iherapeullc horticultural sessions. Facilllal&d by our Community Gardener, these S8ssions used gardening and seasonal outdoor a¢livilies lo help people improve their mental health and ieduce isolation, with a particular focus on en9aging with people who were disadvantaged andlor vulnerable. We collaborated wilh our colleagues in other HOT teams and th8 Outback hosled some large cornmunily evènts durin9 the year, including HOT'S 21 st birlhday party and a Refugee and Asylum Seeker Gelebralion. along with hosting some smaller Scale workshops and sessions. Amng these were gardening activities for the Moving Forward Together projecl, the Tandrusli team's practical cooking sessions and forest school sessions for Ihe Fun 4 Youths group. An Aclivo Calderdale grant enabled us lo improve signage and pathways around the garden and th8 create a wellbeing walk. The aim of the project was lo encourage more local people lo access the Outback to increase their levels of physical aclivily whilst being in a safe and welcoming community gre6n space. We also used a Calderdale Council Small Grant lo install an off-grid solar energy kil into the Hive room lo make il a more usable space and il has now become the base for our Park Ward Pollinators community beekeeping project. HALIFAX OPPORTUNITIES TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The cost of living crisis continues lo have a significant impact on people living in the area and there is still a high damand for food support. Having provided a free weekly lak8aw8y meal for Ihe local community sinc8 September 2020, we wanted lo move lo a more sustainable and choice-based model of food support. We worked alongside people frorn Park lo establish our Outback Community Pantry a weekly service offering basic pantry items at affordable prices. The panlry is staffed by local volunteers wilh support from our staff leam, hèlping lo empower people lo play an active ro18 in finding solutions to the ch811enges Ihey face. By the end of 2023-24, over 40 local households had signed up to be members of the Community Panlry. Volunteering inpul into maintaining the garden remain8d strong with 26 regular volunteers. Our weekly kitchen and gaiden volunteering sessions ar6 friendly. welcoming and open lo all and our communily kitchen and garden team create a supportive and nurturing ènvironment. helping lo build relationships and Social connections across diffefenl groups of people. Through volunteer support we have built more compost bays, ins1alled so18r power lo the Hiv8. repaired and renovated all veg beds and maximised growing spac8 Ihroughoul Ihe garden. The pop-up seasonal fruit and veg shop had ils most successful year with 100% ol all produce grown being sold al affordable prlces lo the local community. We Continue lo build local partnerships lo enable a wide variety of people of all ages to benefit from the Outback and in 2023-24 we hosted regular visils from 3 local schoolslpre-schools, Cald8rdale College, Healthy Minds, the local childminder network and Ihe Calderdale Council Portage Team. Oulback garden volunteerAB lives on hls own locally. AB was looking for opportunllles to keep hlm busy gnd gctive and when he found out oboul Ihg Outback, hg thoughl h8 would give il a try. Due lo illness AB has lost som9 mobillly, but our Community Ganlen team have welcomed and worked glongslde A8 to ensure Ihat he hgs a range ofjobs he can g8t Involved wllh lo help hlm get the mosl oul of hls lima in the Oulback. AB says.. .1 Ilvo on my own and although I have always been actlve having had cancer Iwl¢8 I have rnc8ntly become an old man vory quickly. I push myself at every opportunity to lryand r8gain fhe movemenl that l enjoyed In my youth, hence worklng at Ihe Outbaok. I look lonyard to the Tuesday and Thursday volunteenng sesslons worklng with likeminded people who Insplre m8 lo cany ort. The Oulback has been 8 godsend.. ueens Road Nei hbourhood Centro Significant progress on this ambilious project was made during the year. Calderdale council cabinet agreed lo the asset Iransfer of the building lo HOT, and significant grant funding was secured Irom the Afchileclural Heritage Fund and UK Shar8d Prosperity Fund which will pay for specialisl VAT advi¢e. bid writing, projecl management support and archi18clurallprofossional fees. An initial Expression of Inlerasl was submilled lo the National Lottery Heritage Fund which, if accepted, will pave th8 way lo a Development grant bid lo progress the project lo Ihe next stage of delivery. ousin HOT purchased ils first house which was both an investment decision by Iruslees and also fils wilh HOTS charitable objects lo support local peop18. The house has been leased for 10 years lo a local charity. which will manage the property and have placed a Vulne￿ble family into the accommodation. HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Community Organising 2023124 has been another busy year for HOTS Community Organisers {COs). through our Place Based Social Action projéct, funded by the National Lottery Community Fund. As an established and important arrn of the Commullily and Wellbeing loam. CO'S encourage people Iiom tha local community lo bring positive change to their neighbourhoods. A key activity over the past year has been to galvanise local people lo allend ward lorum meetings. Past mgelings saw only a few of the same residents attending. Now the ward forum regularly allracls between 30-50 local rosidenls per meèting lo have a say on their local community and hold elected members, the police and other services accountable for what is happening in the local area. Th6 CO'S hav8 been active across various projects al HOT and are often the first point of contact for other agencies wantin9 local engagement. We support finding raw data and ensuring that Ihe local voice is part of establishing a understanding of what's relatable and beneficial. This was w811 demonstrated when the community organisers were asked lo do a large piece of work regarding People's Paik whiGh helped provide vital information towards establishing a committ8d Friends of Pèople's Park group. The COS also 5UPPOrt8d consullalion around a Community Arts Irall. helped lo link the launch Df HOTS new Apna Siaylng Well Hub to Ihe wider neighbotjrhood and encouraged local residents lo become involved with The Outback community garden. to the point where there is now a waiting lisl for garden volunteers! The COS have built really productive connections with various other local inStiatives. Examples include Halifax Central Initiative. especially around seasonal events such as Ramadan, Eld Easter and Bonfire night,. Culluiedale. to inform larger community celebration events within local parks and community spaces,. and engagamenl with Playzones. 161 Support Inclusive integration of nèw arrlvals to the UK This year marks the most extensive rollout in tho hislory of our ESOL and Integration provision lo dale. We significantly expanded our reoch, delivering services to a record number of participants throughout Ihis past year. Alongside existing conlracls, HOT was awarded fvlo new ESOL & Integration prograrnmes designed nol only lo improve English language skills bul also lo facililale long-lerm social. eGonomi¢. and personal gfowlh for learners. Through lacililalion ol language learning with holistic supporl services. the programmés have helped empower individuals lo become active, self-sufficienl members of Ihe local communities.18ading to lasting impacts on their quality of life. This expansion ref18cls our commitment to meèting the growing demand for ESOL and inlegralion seNlc@s, ensurlng that more people have the opportunity lo benefll from our service delivery. Thls year's posl-integrallcn delivery has had a Iransformalive impact on parlicipants. loslering meaningful improvements in both individuals, lives and Ihe communily. Through largeled support services, participants have acquired qualifications & many learners have stsccessfully secur8d 8mploymenl. High numbers of learners have also reported enhanced social Snte9ralion, as renecled in increased involv8menl in local community aclivilies and volunteer work. Additionally, a high proportion ol learners have successfully progressed lo further education, equipping them with skills for long-lerm success. These outcomes illustrate the significant and lasting benefits of p05t-inlegrallon inilialives & innovative curriculum design. OUT focus has rèmained in maintaining our commitment lo making language and inlegralion support accessibl8 10 individuals that face barrièrs lo participation Ifocussing on women in particularl. Being able lo successfully r8ach oul to isolated individuals. newly arrived migrants, refugees & marginalised communilies has enhanced the reach of HOT'S sgrvices. The increased number of contracts hav8 enabled us to enhance programme impacl by bringing language 5UPPOrt closer to the communities that need il most through allevialion of barfiers r6sulling in higher engagement rates. Additionally, the program has slrenglhened local nelworks by fostering partnerships with local stakeholdèrs Ihal has introduced more specialist input for our learner5. Programmes delivered are as follows.. CAL - Calderdale Adult Learnlng Continuation of our partnership with Ihe LA lo deliver accrediledlnon- accredited ESOL & Digital skills, Despite challenges in mainstream eligibility criteria to access CAL provision, we successfully delivered Year 2 of our contract lo multiple groups of new learners. CAL Functlonal SkI115 Maths provision Another highly successful year of partnership woikirig lo deliver Maths lo individuals expressing inleresl in Numeracy loarning. High numbers of diverse groups enrolled onlo the programmes & were successful in achieving Level 1 & Level 2 Malhs qualifiCat￿nS. HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 CAL Multlply programme Successfully delivered Year 2 of the newly introduced initiative lo engage individuals that arè furlhesl away in learning & support uptake in basic Numeracy leafning with a view lo equip individuals with Numeracy skills in order lo strengthen paren131 input in children's Iparning as well as improving prospfycls for economic parlicipation. VPRS -vulnerabl8 Per80n's Resettlement Scheme Continuation of our contract to d6livar ESOLllntegralion & Employment support lo all individuals that are on the Government Resettlemenl Scheme. All learners have significantly improved their languag8 acquisition, improved social networking, increased their confidence leve15 & have demonslraled adapl8lion lo life in Britain. All learners participated in th8 enrichment aclivilies Ihroughoul th6 year. evidencing commitment to léarning & conlribuling to diversity & mulli culturalism in Calderdale. Innovatlon Fund A new Inilialive commissioned by Calderdale council in promoting language learning. slrengthening community cohesion & addr8ssing gaps in local services. A cuslomisèd curriculum was designed lo address local women's needs lo specialist seivices. incorporaling conlext-specific lopics such as navigating local seThices, employmènt opportunities and cultural integration aclivilie5. Maxlmus A pilot ESOL & Employability programme lo support individuals in improvlng English language skills lo Improve chances of seGuring employmenl. ESOL Partnership Forum is a council-facililaled forum created lo bring together all Calderdale ESOL providers in mapping local need & identifying gaps in local area. HOTS Inclusion & Integration Manager at18nds lo support Ihe strale9ic development of localised ESOL delivery. Exams All accredited prograrnme areas have seen exoellenl results with all learners achieving qualifications. This has further developed confidence & moliv81ion of learners lo progress onlo higher levels. CultureDale is a creative celebrailon of Calderdale councll's 50 years of seNIc8 delivery. 8ased on popular demand, HOT facililaled two hlghly successful community cultural evenls (Chand Ali Khan Qawwali & Brunch with Lala Qadeerl. 80th events were well allended & fanlasli¢ feedback was received regarding HOT'S contribution lo local culture & heritage. Actlvg Calderdale A serie5 of workshops delivered lo ascertain physical acllvily levèls & promoting the Active Calderdale inilialive. An important aspect ol HOTS inclusion provision are the enrichmenl aclivilies Ihal enable participants lo beller understand the UK way of lif8 and how society operales. In Ihe year under review, the following look plac8'. Houses of Parllamont visit Our annual visit where learners have th& opportunity lo broaden Iheir knowledge of UK Parliament (learn about the House of Commons & House of Lords in addition to exploring selecled London sites), Learners were fascinated lo sil in the public gallery listening lo live debalesl Bridlin9ton vlsit An opportunity fof learners to v1511 the wider UK geographyllandscape & for many a fSrsl-time expgrionG8 of experiencing life at the seaside. Internatlonal Women's Day celebrations HOT collaborated with Park Community Initlalive in biinging together local women & celebrating IWD Error in formula ->#inspirelnclusion<- & Error in formula ->#inveslinWomen<_ BBC Make a Dlfference Last bul not least, a highlight for the year wa5 Halifax Opportunllies Trust's Inclusion & Integration Manager winning the prestigious BBC 'Make A Difference Award, in the 'Togelher Award, category through her work with migrants and refugees al Halilax Opportunities Trust. The ceremony was held al the Leeds Royal Armouries, on 30th Seplember 2023. 10- HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17) Leadefshlp, governance and central support functlons Governance Undeipinning the oulward-facing work of Ihe Trust is a ￿ntral services team and a board of truslaes whosè role is to ensufe that the leadership and operational aspecl of HOT is ol high quality. During the yoar und8r r8vigw, on8 new Irustee, Zohaib Ali. was elected. In addition to being a local resident. Zohaib brings HR experience to the boaid. Trustee5 underwent 'bite-size training, 81 Iheir board meetings on the following subjects.. political campaigning., appronliceship provision. safeguarding. A full skills audil was also carried oul, which will inform the training programme for 2024125. This ensures Ihal Iruslees 8r8 fully awaTe of Iheir legal dullès and the specific issues that they need to focus upon. Th6 tenure of trustees was reduced 10 9 years (from 15) lo belter meet best practic8 and governance guidancè from Companies House Slaffln and rofessional develo menl As al 31 st March 2024. HOT had 178 staff. 88Yo ofwhom are women and 36YD of BAME heritage. Staff slay at HOT for around 7 years. which means we are su¢cessful in retaining staff members. Key developments during the year include the introduction of an improved HR dashboard. This is an important tool lo help make Snlormed decisions and support slaff development. The HR dashboard is broken down into indivldual areas of Ihe business and is the most efficient way lo monilor, manage and track data, extract valuable insights and cr8ate a plan for the future from strategic levollperspeclive. The workforce quarlerty feport provides the opportunity lo explore and discuss Issues identified from analysis of thè data arising from the organisalion's workforce Iransaclions. The indicators represented in this report giv95 SMT an inslanl view ol selected trends ovèr the last year lo see the wider picture of what is changing in the workforce. We re-established the Employee Forum which has a new name ol Hear Our Thoughts IHOTI. The aim of the Employee Forum is to provide a Iwo-way communic81ion process, involving and en9aging employee5 through consullalion and enabling them lo contribute to the suGcess of the busin8SS. Qualit ass ms and rocesses In November 2023 the Trust was accredited with Ihe Conlraclors Health and Safety Assessmenl Scheme ICHASI having demonstrated compliance with and sound management of currenl health and safely legislation. In December 2023 HOT successfully secured accredilalion lor Cyber Essentials. The certificalion demonslrales we have robust data security measures and gives our clienls, partners and slaff the confidence and assurance that we are working lo a recognised level. In March 2024 HOT secured Matrix accreditation forApprenticeships and Employment provision and (for the first limel for our Children and Families provision. Markelin 2023 marked our 21st annivefsary, and we implemenled a strong campaign which celebrated our impact over the past two decades. More importantly il gave us an opportunity lo commemorate and acknowledge Ihe individuals who have contributed lo the achievements of the Trust. Our 21st Birthday celebrations drove a lol of the marketing aclivity for 2023. not only in what the Trust comrnunicaled. but in ils slralegic vision for the next 21 yéars and beyond. A new website was developed and launched, which places emphasis on providing dynamic informallon aboul the Trust including a calendar of events. Future Commitments The Children's Centre contract forms the major source of fulure commilmenlslliabilitie5 for the Charity, in relation lo the defined benefit pension scheme for TUPE'd staff who wère originally employed by Calderdale council. The current contract Is due to finish on 31st September 2025. HOT has met the level of required pension contributions since il took on the conlracl in 2014 and therefore ha5 mel all ils obligations in terms of keoplng the scheme adequately financed. As al 31 March 2024 under the FRS 102 ILGPS funded benefits) disclosure requirement, the Charity has recognised a much-r¢duced pension liability on the balance sheet of £82,000 in relation lo Ihe Children's Cenlre conlracl15ee note 19 of the financial statements for further details}. This is the difference between the fair value of the assets and the piesenl value of the defined benefit obligation as valued under FRS 102 and using the assumptions presonled lo the Trtsslees in th8 actuary's report. The FRS 102 deficit shown as al 31 March 2024 is a snapshot at a point in lim8 and the deficit disclosed in our accounts is not reflective ol our ongoing obligations under the Scheme. These are assessed every 3 years as part of tha Iri6nnial actuarial valuation process. As al the last acluarial valuation carrigd out as al 31 March 2022 we wgre 104.90/. funded, wilh a surplus of £188.000. We are also defined as a 'subsumplion body, in the Scheme which reflects a guarantee provided by Calderdale Council which means Ihal should w8 exil Ihe scheme al any point any liability due would be picked up I"Subsumed"I by the Council. The Trust will conlinue lo make contributions at Ihg agreed rale to fund the pensions being built up. 11 HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2024 Financial revlew ho Group is reporting net operating income of £68,243 for Ihè year 8nded 31 March 2024, belore taxation and movement on the pension scheme. Following recognition ol taxation and Ihe actuarial movement on Ihp defined benefit pension schemes, the Group is showing a total nel income position of £134.453. The Group receives funding from a range of sources including Itxal and national government contrac15. local and nalional government grants. granl income from Trusts and Foundations as well as genelation of ils own income via ils subbidiary company. The Trust88s have adopted diversification of income streams to mlligale the risks around sustalnable inGome sources. Details of the specific grants received by the Group are included in note 3 of the accounls and the results ol the trading subsldiary are included In nole 15 of the accounls. The income sources of the Charity's reslricled funds are included in note 20 of the accounts. Amended accounts The pension scheme ha5 a nel pension asset of£82,000 at 31 March 2024. This is not recognised in these a¢¢ounls. in line with FRS102, on the basis that Ihe asset is not recovered by reduced contribulions or refunds lo the plan. The original financial statements incorrectly included a nel pension liability of £82,000 at 31 March 2024. The revlsed financial 51alemenls replace the original accounls, are now Ihe slalulory accounts and are prepared as they were at the dale of the original accounts Going concern Based on a high level of secured conlraclual and grant incomè and free reseNes of £894,647, tha Trustees are onlidenl that Halifax Opportunilies Trust can continue as a going concern. ReseNes policy Reserv88 are required by tho Charity because Ihere is a need lo match variable fulure income with fixed commilmenls, grants are often recèiv8d after Ihe relevant expenditure has been paid out, and Ihe Trust al limes supports certain projects beyond lh8 life ol specific funding or bridges between contracls. The policy agreed by thg Board of Truste85 is described below.. The HOT Board have agreed to determine the largel level of reserves using Ihe following approach.. 500/0 of all non-children's C&nlre salaries PLUS all current contractual paymenl commitments. The re5efves levels will be reviewed each year when budgeting is being carried out and will therefore flucluale as salary cosls incroasel decrease and conlraclual commilmenls in¢reaselde¢rèase. Based on this Policy. the larget18vel of reserves for 20231 24 will be £646,422 Unreslficled reserves as of 31st March 2024 were actually £2,306,547. In 2022 Iruslees designated £150,000 reserves towards the purchase ofemply Pfoperties in Park ward. £66,500 has Since been spent from thal designated reserve and $0 £83.500 Is stlll designated lo that purpose. A Tevaluation reserve is held lo recognise thè valuallon of charity property, this totals £1,328,400. The remainder of £894.647 are general reserves lo support the ongoing operalion of the charity. Inveslmont policy Under th8 Memorandum and Article5 of Association the Irusl8es have the power to make any investment they see fit. During the year under review the truslees have chosen lo hold Ihe surplus funds of the Charity in th8 bank account with Unity Trust Bank PLC. These are held in current accounts in order to facililale the day lo day oporalions of the Charity. £623,458 of the Trust's funds are held in an inleresl-bearing current account with Unity Trust Bank in order lo maximise inGome from the Trust's surplus funds and to meet the liduciary requifemenl of Ihe Iruslee board. 12- HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future periods 111 Support enterprlso, buslness start.up and growth Since April 2024 there has been a drop in occupancy al our business cenlr8s and so we have resel targets lo improve occupancy at both siles through a plan of inward inveslmenl to maintain and improve the siles and remain the local market leader in offlce and conferencing space. We are also revlewing our operational 5yslems and slaffin9 structure for both sites to ensure excellent provision for 16nanls and conference allendees. 12) Help local people Into employmenl We continue to engage with potential fun¢Jers. develop partnerships. and advocate for the importance of employment services within the VCS sector. Our aim for Ihe next period is lo secure the resoufces necessary lo not only maintain our services bul also lo expand Ih8m in response lo growing community nee(I, including the delayed implemenlalion of the Youth Mentoring project. Prioril 1.. Yo IhEm lo ment in Paik Ward & wider Calderdale Supporting young people into employment remains one of our highest priorities. This focus is 8SP8cially critical for areas like Park ward, where youth unemploym8nl rates continue to exc8èd local and national averages. Tha economic and social challenge5 faced by young people in this community have only b88n exacerbated by the cufr8nl funding crisls, making it even moré urgent lo addiess Ihe barriers they lace in accessing sustainable employment. In response to this need. we are actively exploring partnerships wilh local lunders. businesses, and community organisalions lo develop tailored projects aimed al empowering young people in Park Ward. These projects will focus on building essential skills, offering mentorship. and crealin9 pathways into employment lor those who are often left behind in traditional job markets. Whll6 our Youth Mentoring pmject remalns a key component ol this slfalegy, we recognise that a broader, multi- fac818d approach is needed lo make a significant impact. This includ8s not only securing funding for the mentoring programme bul also dev81oping largeled inilialives. Prioril 2.. Ex andin ivers Client Base In addition to our locus on youth employmènt. a key priority for the coming year is lo continue providing tailored support to people across a wide demographic range. Our setvices are designed lo meet the needs of individuals from various backgrounds, including long-lerm tsnemployed 8dulls, older workers facing career Iransilions. individuals with disabllilles. and people from ethnic minority groups, all ol whom may experi8nc8 unique barriers lo entering or re- entering the workforce. To ensure that we can continue lo meet the diverse needs of our community. il is Éssential that we expand our team. Currenlly, with only one employment advisor, our capacity lo provide thè holistic, personalised support Ihal is necessary has been stretched thin. This limits our ability lo reach mofe clients and deliver the comprehensive services we strive for. 13- HALIFAX OPPORTUNITIES TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 (31 Support and deliver work-based learning Kgy fulure activity includes: Programme developm6nl and further growth lo achieve linancial independence and stability Plan lo increase provision in the followin9 ar8as Customer service. Team Leader and Leadership & Management To continua to develop quality sustainability growth in line with Suslainabilily Through Skllls approach lo achieve a path lo a greener sociely and netwoik wilh colleagues from the ski115 sector To alternalive ways of employer engagemenl lo provido a high quality èxp8riance for loaners and employers To continue to work with local employers lo lackle skills shortage in the early years soclor Inlroduclion of new staff posts lo expand the ski115 mix of the team 14) Support chlldren and famllles We anlicipale that the service will be relendered during Ihe coming yearwilh initial indications that the CL¢rrenl contract lols will be reslruclured to create pan-calderdale provislon. We are therefore preparing for a possible lender submission. In terms of the current contracted servlc8. which is in place until September 2025, these are some of the key areas of activity over the coming year for this service.. Level 4 Undorstanding Autism - a course delivered and funded by Cald8rdalo College in Q124125 in Todmorden lor parents and anyone working wilh Ghildren. Support Alony the Spectrum - to continue to deliver this support group for farnilies wilh n8iJrodiverse children and lo expand training lo mofe partner agnecies. Wellbalng Group A working paty was established lo gather feedback about how this course can bè improved following feedback Ifom the pilot session. After consulling with parents. the program was amended, and will b8 dellvered durin9 Q124125. This will offer support needed in this area to our open cases, and cases awaillng allocation for Family Support & Outreach. Breastfeedlng Group al Todmorden Health Cenlre - due lo high demand for 1..1 breastfeeding support the group lime will be exlend8d lo allow enough lime lor support to be offered. Tots Talking - an 8-week programme lo improve 2 year old language skllls supported through the Ican Foundation. The sessions will run weekly with small groups of 6-8 parents and children al risk ol d81ayed lan9uage. The Early Years Team have now all been trained in how lo facililale Ihese sessions. 14- HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Lileracy Trust Events - Funding from the National Lileracy Trust to work in partnership wilh North Halifax Partnership, to deliver 5 sessions lo help lo support and improve speech and language levèls across Calderdale. The events will be delivered by Story Trails, who deliver interactive stories which encourage imagination and creativity. This wlll take place in Q124125. (5) Support and promote community and wellbelng Key future plans are as follows for Ihis area of HOTS work: Calderdale Cancer Aware Pro"ect HOT (Slaying Well Central Hdlifaxl is leading a cancer awareness project developed in partnership with Macmillan. The project aims lo empower and support BAME residents ol Calderdalè by enhancing Iheir understanding and knowledge of cancer, promoting earlier diagnosis and Irpatmenl. This initiative is one of only 12 projects funded nationally by Macmillan and will receive support for three yeafs. Based on community engagement and insights gathered by HOT, the project has influenced the nalional Macmillan model lo beller rellecl the needs of Calderdale. 11 will actively promote awareness of various types ol cancer, symptom recognition, and screening services Ihrough a series of cancer awareness workshops. outreach activities, and published lileralure. The projecl will also run Cancer awafeness campaigns. debunk misconceptions. and address taboos and stigmas. providing culturally sensitive and accurate Information. The project is currently being finalised and expect to be rollgd out in June 2024. Secure St Well The Slaying Well service has b88n delivered collaboratively by three ¢ommunily anchor organisalions across Calderdale. as follows.. Halifax Opportunities Trust- Central Halifax North Halilax Partnership - Norih Halifax and Lower Valley Hebden Bridge Community A550cialK)n- Upper Vall8y Inilially launched as a pilot proj8cI in 2014, the seNi¢e has been renewed annually by Calderdale Council. Following extensive discussions and consullalions, the Council has now de¢lded to commission Ihe service for a longer term, potentially up lo five years. This is a positive development fof Ihe seNi¢e, with the commissioning process expected lo begin around May 2024. The Outback Securing longer-lerm funding lo help cover core costs, salaries and rising ulilily costs remains a priority for 2024-25. We will also explore opportunities for corporate sponsorship of the Oulback. We want lo increase footfall lo the kitchen and garden through the provision of a wide range of wellbeing. gardening and cooking activities. We plan lo inspire more people to build a stronger connection with the nalufal environment so Ihal they make everyday changes in their liv85 lo lake action lo protect it. ueen'g Road Nei hbourhood Centre Key activity for the forthcoming year is lo secure project management support through a competitive lender proc8SS and lo ensure our EOI lo the National Lollery Heritage Fund is successlul. We will also enter into a formal partnership with Calderdale council lo progress the project until HOT lakes on the leasehold for the building, This 15 an ambitious ¢apital project requiring external finance and spe¢ialis1 advice. therefor8 a robust. sl8ady, risk-based approach is being lakan. Communl anisln As community organising is predicated on what emerges from the local communily. il is harder lo have sel plans aboul what will happen in the fulufel However. the two Organisers are in place lor one more year and we plan lo secure funding lo keep capacily in place as Dfganising is so important to HOT'S work wilh Ihe local community. We have had positive feedback from funding partners and so hope to secure Our team foi 2025 and beyond. 161 Support Inclusive Integration of new arrivals to the UK Our aim is lo conlinue with our efforts lo seek funding solutions that help sustain our delivery in order lo fully meet the growing demand for English language & integration support. Limited financial resources would create huge challenges & risks & restrict the number of participants we can engage as well a5 reducing th8 geographic reach of our services. Addressing these financial limitations is essential for suslaining and sGaling up the servic8S to rneel the evolving needs of our communities. We would as always like lo remain Oplimislic in continuing lo offer more comprehensive integration support so will focus on sustaining our contracts & explore néw initiatives. 15- HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17) Governance, Management and Central Services HR We will be reviewing the full life cycle of recruilmanl including sourcing, screening, employing and onboardingl induclion with a view lo.. Drive an increase in quality applicanls per vacancy. We currently have either a low number of applicants or a high number of unqualifiedlpoor candidates Reduce the lim8-to-hire- reduce th8 number of days between advert posting lo day one in role. Reducing our ¢osl per hire- we will look al atlribuling a currenl av8rage cost and look to reduce this, setting a realistic percÉnlag8 reduction. We will also be implementing a Pertormance Management Module into Cezanne lour online HR sysleml which will streamline our current performance management process. This will support efficient leadership ensuring that we accurately record the performance of our employees and il will enable leaders lo quickly identify and manage performance issues as well as helping lo identify and support suc¢6ssion planning for future leadership positions and other career advancement opportunities. Marketing The focus for marketing in the comlng yèar is our business cenlres and apprenticeship provision, to ensure we are maximising our reach to potential tenants and Guslomers. The mark81ing strategy includes plans for carbon reduction, digital transformation and place-based deliv@ry that all support the Trusl in remaining relevant, a¢cessible and authentic. We are also reviewing the slyle and m8ssaging of our mark81ing lo ensur8 we are reaching local residents and organisalions. Quallty and Systoms A priorlly lor 2024125 is lo rgview and Improve our internal quality assuranc8 Systems 10 8nsure they are as efficient and effective as possible. We will be inlToducing new digital systems lo enable this. We will be working towards relenlion of all cur current qualily marks (Qualily for Health & Wellbeing.. Matrix.. Ofsled.. CHAS, Cyber Essentials) lo ensure we have external scrutiny as well as a robu51 internal audit. 16- HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 structure. governance and management Halifax Opportuni1188 Trust, was incorporated in 2000. achieved charitable status in 2002 and has been operational since April 2002. 11 is a membership organisalion and ils trustees are elected Irom its membership as laid out in the Memorandum and Articles of Assoclalion. The Trust can also co-opt trustees to sil on ils board bul currently is not using this option. HOT has two commercial proporties on long term peppercorn leases from the local council. They ar8 used as a base for HOT'S charitable activities and are also16t to local businesses to promote and encourage local buslnass growth. The property inleres15 are managed by a wholly owned subsidiary company, HOT Enterprises Lld, For this reason, HOT produces consolidated accounts. Governance HOT is a registered charity and a company limited by guarantee. Board members are therefore both Irusle9s of the charity and company directors. There are currenlly len trus180s. Elected trustees serve for a maximum of nine years and the co-opted Irust88s are co-opted annually. Elected trustees are elected by the HOT membership al Ihe AGM. Co-oplgd Iruslees are appointed by the Board. All new trustees receive an induction pack and complete a register of interest do¢umenl. They are also provided with opportunities for governance and sector specific training and development. The charity's board rnee15 quarierty and the HOT Enterprises board meels every two months. In addition lo these meellngs there is a Finance, Audll & Risk Committee and an HR & Apprenticeships Commlllee. Special purpose task and finlsh groups are formed lo meet specific needs. These meetings take place between formal board meetings lo explore issues in depth and help Iruslees and directors better understand the changing environment in which the organisation operates. Any such groups report back to Ihe full Board. Currently there are a Buildings Sub Commillee and a Children's Centre Sub Commillee. An annual away day is held for Irusle8s and staff al which future direclion and priori118s are agreed. Thé Strategy Plan is reviewed annually and each team produces a shorl operational plan which outlines key aclivi118s for Ihe year ahead. KPIS are drawn from these plans and are used as Ihe basis for performance management within lh8 organisalion. Managgment There is an experienced senior managèment team of five al the core of the organisation that meets monthly lo plan pan-organisalional operational aclivily. The team is led by the Chief Ex6culive. The Chief Executive and the senlor managers report directly lo the Boafd al the charity and trading subsidiary board meetings. They produce wrillen exception, risk and recommendation reports for these meetings and attend lo respond lo queslions and provide further information as required. The senior team attend regular training and personal development opportunilies lo ensure they ara kaaping their professional development up lo dale. Rlsk management The trustees agreed a Risk Management Plan for 2023124 and have agreed the plan for the forthcoming year 20241 25. The Plan describes HOTS approach lo risk management and assesses thè strategic fisks for the organlsation, based on Charily Commission guidelines and using a RAG system. Red (high level) risks are dealt with irnmedialoly, with Amber bging dealt with as soon as possible. Risks highlighted for 2023124 were all miligalod or negaled wilhln the year under review. Detailed scrutiny of th8 risk plan, including emerging risks identified by SMT, is delegated lo Iha Risk and Governance Commiltee. This Commillee agrees and summarises key risks which are then presenlgd to th8 full board. Company Ilmlted by guaranteè Halilax Oppgrtunilies Trust is a company limited by guarantee and accordingly does not have a share capilal. Every member of the company undertakes lo contribute Such an amount as may be required not exceeding £110 the assets of the charitable company in the evenl of ils being wourid up while he or she is a member, or within one year after he or she ceases lo be a member. 17 HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Iruslee5, who are also the directors for the purpose of company law. and who sarved during the year and up lo the dalo of signature of the financial slalernenls were.. ZAAII H J Barber L Burrows R J Craven A Hamid H L Hunter S Hussain T Male S E Morrell C J Pinder A K Qureshi G Rhodes S Sadiq R M Sweeney {Appoint6d 16 November 2023) (Resigned 27 November 2023) (Resigned 9 July 20241 (Resigned 9 May 2024) (Resigned 12 July 20241 Statement of trustees, responsibilltles The Irustees, who are also the directors of Halilax Opporlunilies Trusl for the purpose of company law, are responsible for preparing the Trustees, Report and the financial slalemenls in accordance with applicable law and Uniled Kingdom AccountSng Standards (United Kingdom Generally Accepted Accounting Pracli¢e}. Company Law requires the Iruslees lo prepare financial slalemenls for each financial year which give a true and fair view of the slate of affairs of the Charity and of the incoming resources and application ol resources, Including the income and expenditure, of the charitable company for Ihat year, In pr8paring Ihese financial slalemenls, the Iruslees are requifed to.. select suitable a¢¢ounting polici8s and then apply them consistently.. observe the methods and principles in Ihe Charities SORP., make judgements and estimates Ih818re reasonable and prudent., and prepare the financial statements on the going concern basis unless il Is Inappropriate to presume that the Charily will continue in operation. The Iruslees are responsible for keeping adequate accDunling records that disclose with reasonabl8 accuracy al any lime Ihe financial position of the Charity and enable them lo ensure Ihal the financial slalem6nls comply with the Companies Act 2006. They are also responsible lor safeguarding the assets of the Charity and hence for taking reasonable sleps lor the prevention and detection ol fraud and olher irregularilies. Audltor In accordance with the company's articles, a resolution proposing that BK Plus Audit Limited be reappointed a5 auditor of the company will be pul al a General Meeting. 18 HALIFAX OPPORTUNITIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees. r8POrt was approved by the Board of Truslee5. H J Barber Trustee Date". 8. S.ZS 19- HALIFAX OPPORTUNITIES TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees, who ar8 also the directors of Halifax Opportunities Trust for Ihe purpose of company law, are responsible for preparing the Trusteas, Report and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to Prepare financial stalemenls lor each financial year which give a true and fair view of the slate of affairs ol thè Charity and ol the incoming resources and applicalion of resource5, including the income and expenditure. of the charitable company for that year. In preparing these financial sta18menls. the trustees are required lo: Sglect suitable accounling polici8s and then apply them conslsl8nlly'. obseNe the methods and principles in the Charitie5 SORP; make judgements and e51ima16s Ihal are reasonable and prudent-. and prepare the financial slalemenls on the going concem basi5 unless il is inappropriate to presume that the Charity will conllnue in operation_ The Iruslees are responsible for keeping adequate accounting records that disclose with reasonabl6 accuracy al any lime the financial position of the Charity and enable them lo ensure that the financial slal8menls comply with the Companies Act 2006. They are also rèsponsible for safeguarding Ihe assets of thè Charity and h8nce for laking r8asonable steps lor the prevention and deleclion of fraud and other iriegularities. -20- HALIFAX OPPORTUNITIES TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HALIFAX OPPORTUNITIES TRUST Opinion We have audited the revised financi31 statements of Halifax Opportunities Trust Ilhe 'parent charitable company'l for the year ended 31 March 2024 which comprise the slalemenl of financial aclivilies. the balance sheet, the slalemenl of cash flows and notes to the financial slalemenls, including significanl accounting pOI￿leS. These revised financial statements replace the original financial slalemenls approved by the trustees on 22 November 2024. The financial reporting framework that has been applied in their preparation 15 applicable law and Unlled Kingdom Accounting Standards, incltsding Financial Reporting Standard 102 Th6 Financial Reporting Slandard applicable in th8 UK and Républic of Ireland (Uniled Kingdom Generally Accepted Accounling Praclicel. Th8 revised rinancial slalemenls have been prepared und8r the Companies (revision of Defeclive Accounts and Reports) Regulations 2008 and accordingly do nol lake account of events which have taken place after Ihe dale th8 original fi'nancial slalemenls were approved. In our opinion. Ihe financial stalemenls.. give a true and fair view, seen al the dale th9 original finaneial statements were approved. of the slate of the group and parent charitable company's affairs as al 31 March 2024 and of ils incoming resources and application of resources, for the year then end8d', have been properly prepared in accordance with United Kingdom Genèrally Accepted A¢counling Practice seen al the dale the original financial slalemenls were approved.. and have been prepared in accordance with the requirements of Ihe Companies Acl 2006 as the they have effect under the companies (Revision of 0ofe¢live A¢counls and Reports) Regulations 2008. Basls for oplnlon We conduc19d our audll in accordance with Inlemalional Standards on Audillng (UK) IISAS {UKII and applicable18w. Our responsibilities under those standards are furthei described in the Audilor's responsibililies for the audil of the financial slalemenls $8cllon of our report. We are independent of the group and parent charitable ¢ompany In a¢¢ordance with Ihe elhic81 requirements that are rel&vanl lo our audit of the revised financial slalem6nls in the UK, including Ihe FRC'S Ethical Standard. and we have luifilled our other ethical responsibililies in accordanc8 wilh these requirements, W8 believe thal the audil evid8nce we have oblained is sufficienl and appropriate lo provide a basis for our oplnion. Emphasis ¢f matter~ revlslon of Provlslon of Ilablllties for ynslon scheme deflclt We draw attention lo nole I which d8scribes the need for revision of pension schem& liabilily, because of a correction of a misslalement in the original linancial slalemenls. The pension schem8 ha5 a n81 pension asset of £82,000 al 31 March 2024. This is not recognised in Ihase accounts. in line with FRS102, on the basis that Ihe asset is not recovered by reduced contributions or refunds lo the plan. Tha original financial slalemenls incorrectly included a nel pension liability of £82,000 al 31 March 2024. The original financial slalements were approved on 22 November 2024 and our previous audil reporl was Signed on 25 November 2024. Wo have not performèd a subsequent evonl review for the period Irom the dale of our previous auditor's report to the dale of this report. Our opinion is not madilied in this resped Concluslons relatlng to going concern In auditing the revised financial slalements. we hav8 concluded that the Iruslaes. use of Ihe going concern basis of accounting in the preparation of Ihe financial stalemenls is appropriale. Based on the work we have performed. we have not identified any malerial unGerlainties relating lo even15 or conditions that, individually or colleclively, may cast significant doubt on the group and parent charitable company's ability lo continue as a going concern for a period of al least twelve months from when Iha original financial slalem8nls were authoris8d for issue. Our responsibilities and the responsibililies of the trustees with respect lo going concern are described in the relevant sections of this report. 21 HALIFAX OPPORTUNITIES TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HALIFAX OPPORTUNITIES TRUST Other Informatlon The other information comprises the information included in the annual report other than the revised financial statements and our auditorfs report Ihoreon. The Iruslees are responsibl8 for Ihe other information contained within the annual report. Our opinion on the revised financial slalemenls does not cover the other informaliDn and we do not express any form of assurance conclusion Ihereon. Our responsibilily is lo read the other information and, in doing so. consider whethef the other informallon is malerially inconsislenl with the revised financial slalemenls or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misslaled. 11 we identify such material inconsistencies or apparent malerial misslalemenls, we are required lo determine whether this gives rise to a material misstatement in the revised financial slatemenls themselves. If, based on the work we have performed, we conclude that there is a material misslalement of this other information, we are required lo reporl that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 Irtr our opinion, the original financial slalemenls for the year end 31 March 2024 failed to comply with the requirements of the Companies Act 2006 in the respects identified by the Iruslees in note 1 to the revised linancial slalemenls. Mattors on which we are requlred to report by exception We have nothing lo report in respect of the following mallcrs in relation lo whl¢h the Chariti6s (Accounts and Reports) Regulations 2008 require us lo report lo you if, in our opinion: the information given in the revised linancial statements is inconsistenl in any material respecl with th8 Irusle8s' report., or sufficienl aGcounling records hav8 not been kept.. or the revlsed financial slalemenls are not in agreement wilh Ihe accounting records; or we havè not received all the information and explanations we requlre for our audit. Responsibilitles of trustO•S As explained morg lully in the stslemenl of Iruslees. fesponsiblllti8s, Ihe Iruslees, who are also Ihe directors of the parent charitable company for the purpose of company law. are responsible for the preparation of the r8vis6d financial statements and for being salislied th81 they give a true and lair view, and for such internal control a5 lh8 Iruslees determine is nec8ssary lo enable thè preparation of revised financial slalem6nls that are free Irom material misslalemenl, whether due lo fraud or error. In pr8paring the revised financial slalamenls, the Iruslees are responsiblg for assessing the parent charitable company's ability to continue as a going concein, disclosing, as applicable, mallers relal8d lo going concern and using the going concern basis of accounting unless the Iru51ees either inlend lo1Squidale the charitable company or to cease operations. or have no realistic alternative bul to do so. Audltor's responslbllities for the audlt ol tho revlsed financlal statomont$ We have been appointed as auditor under section 144 of Ihe Charilios Act 2011 and reporl in accordancg with the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonabl8 assurance about whether the revis8d financial slalemenls as a whole are free Irom material mi5Stalemenl. whether due to fraud or error. and to issue an audiloes report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guaranlee that an audit conduclod in accordance with ISAS (UK) will always delect a malerial misstatement when it exists. Misstalemenls can arise from fraud or error and are considerèd malerial if, individually or in the aggregate, they could reasonably be expected to Influence the economic decisions of users taken on the basis of Ih6se r8vised financial slalemenls. The extent lo which our procedures are capable of detecting irregularities. including fraud. is detailed below. A further description of our responsibililies for Ihe revised financial statements is available on the Financial Reporting Council's website at.. hllps=Ilwww.frc.org.uklauditorsresponsibililies. This description lorms part of our auditor's report. -22- HALIFAX OPPORTUNITIES TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HALIFAX OPPORTUNITIES TRUST Our approach lo idontifying and assessing the risks of material misslatemenl in respect of irregularities, includlng fraud and non-compliance with laws and regulations, was as follows= The engagemanl partner ensured that the engagemenl team collectively had Ihe appropriate compelence, capabililies and skllls lo identify or recognise non-compliance with applicable laws and regulations., We identified the laws and regulations applicable to the company through discussions wllh difectors and other mana9emenl, and from our commercia5 knowledge and experience of the industry sector,. We lo¢used on specific laws and regulalions which we considere(J may have a direct malerial effect on the revised financial statements or the operations of the company, including Ihe Companies Act 2006, taxation leglslalion and data protection. anli-bribery, employment, environmental and health and safety legislation; Wa assessed the exlenl of compliance with th8 laws and regulations identified above through making Ènquiries of management and inspecting legal correspondence., and Ensured laws and regulations were communicated within the audit team regularly and the team remained alerl lo instances of non.compliance Ihroughoul the audit. We assessed the susceplibilily of the company's revised finanGial statements to material mis51alem8nl, including obtaining an understanding ol how fraud mi9hl occur, by: Making enquiries of management as to where th8y considered Ih8re was a susc8plibility lo fraud, their know18dge of actual. suspected and alleggd fraud; Considering the internal controls in place lo miliga18 risks of fraud and non-compliance with laws and regulations., and Understanding the design of the company's remuneration policies. To address th8 risk of fraud through management bias and override of controls, we., Performed analytical procedures lo identfy any unusual or unexpected r81ationships', Tested journal entrie5 10 identify unusual transacts'ons Assessed whether judgements and assumptions made in delermining the accounting eslimales sel oul In note 2 were indicative of polenlial bias.. and Investigated Ihe rationale behind significant or unusual Iransaclions. In Tesponse lo the risk5 of irregularities and non-compliance wilh laws and regulallons. we designed procedures whiGh Included, bul were not limited lo: Agreeing financial statement disdosures lo underlying 5UPPOrting documentation., Reading the minutes of meetings of those charged with governance. Enquiring of management as lo aclual and polenlial litigation and claims., and Reviewing correspondence with HMRC, relevanl regulators and the company's legal advisors. There are Inherent limitations In our audit procedures described above. The more removed Ihal laws and regulations are from the financial Iransaclions, the less likely il is that we would become aware of non-complSance. Auditing standards also limit the audit procedures required lo identify non-compliance wilh laws and regulations lo ersquiry of the direclors and other managemenl and the inspection of regulatory and legal coii8spondence, if any. Malerial misslalemenls that arise due lo fraud can be harder lo detecl Ihan those that arise from efror as they may involv8 deliberalo concealment or collusion. 23- HALIFAX OPPORTUNITIES TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HALIFAX OPPORTUNITIES TRUST Use of our report This r8POrt is made solely lo Ihe parent charitable company's members. as a body. in accordance with seclion 391 of the Companies Act 2014. Our audit WOTk has been undertaken so that we might stale lo the company's members those mallers we are required lo stale lo them in an audilorfs report and for no other purpose. To the fullest exlenl permitted by law, we do not accept Of assume responsibility lo anyone olher than the parent chaiilable company and the parent charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Vlctorla Atkinson FCA (Senlor Statutory Audltor) for and on behalf of BK Plus Audlt Llmlted 8 HCLL Chartered Accountants Statutory Auditor 52 Sl Johns Lane Halifax Wesl Yorkshire England HX12BW 6ILeivs hLILlI k Limiie61 BK Plus Audit Limited is eligible for appoinlmenl as auditor of the parent charilable company by virtu8 of its ellgibilily lor appointment as auditor of a company under secllon 1212 of the Companies Act 2006. -24- HALIFAX OPPORTUNITIES TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENOITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Uni•strlct•d funds 2024 R$strict•d lundg 2024 Tvtal Unrestricted lund$ 2023 Restrtcled lund$ 2023 Total 2024 2023 Nolo8 Incomè from: 0on8tions and leg8Ci8S 103.239 103.239 108,275 108.275 Provision of employment, educalion ￿ ITaining sarvices 230.357 2.653.743 24,842 354.657 442.138 156.042 585.014 3,095,881 180.884 100.045 2,299,079 67.655 557,305 526,760 117.310 657.350 2,825.839 184.965 Provision of thil(Jc8re and famdy support St￿e& Promoting health and wellbeing Managemènl admlnisliation and membership 1.029 250 7,279 100.237 100,237 Other Ira¢Jing actsvilits 727.630 727,630 875.907 675,907 Inve$lmenls 19.840 19,840 8.676 8.676 rolal In¢omo 3,780.680 953.087 4,713,767 3,359,874 1.201,375 4,561,249 Exp•ndÉturo on.. Proviyion of employment, •dv¢alion IrainiTrJ sèrvicès 189,675 2.294,072 178,376 359.191 448.004 135.181 529. 2.742.076 313,557 152.175 2.OS8.408 162.344 $66,212 526,106 109.234 718,387 2,584.514 271.575 Prgviyign 91 childcare and lamdy 8UPPOrt se￿￿8$ Promoting hoallh 8nd wellbemo Managèmènt adminisiralion and m•rnter$hip Other Irading ¢08t¥ 419.208 641.367 250 419,458 641,367 442,157 634.708 442.157 634.708 Total charitabl• •xp•ndlturo 3.702.698 942.626 4,64S,524 3.449.792 1.201,552 4,651.344 Net Incorne 57,782 10.481 88,243 89.918 177 90.095 Tiansl*r8 botween funds 53.%4 53.364 37.349 37,349 Taxotlon 20,790 20.790 3.196 3,196 Other recogniyed g#in# and 108*08.. Acluaiial gains on defined bengfil p•n$i¢r) 87,000 87.000 1,498,000 1.498.000 Ngt movemont in fund• 10 70,828 63.825 134.453 1,367,537 37,172 1.404.709 R8conGiliatlon of funds.. Fund balances al 1 April 2023 2,235.919 7.550 2.243.469 868,382 29.622 838,760 2,306,547 71,375 2,377,922 2,235,919 7.550 2,243,469 The slAtemenl of financiol aclivilies includes all gains alky losses recc4nised in Ihe year. All income and expenditu￿ deiiye from conlinuing &ciivilies. -25- HALIFAX OPPORTUNITIES TRUST GROUP AND CHARITY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 GROUP CHARITY 2024 2023 2024 2023 Notes Fixed assèts Tangible assets Inve51menls 14 1,574.389 1.543.028 1,424,411 101 1,357,956 101 15 1,574,389 1,543,028 1,424,512 1,358,057 Current a88et8 Debtors Cash al bank and in hand 16 328,970 1,345.122 484,730 1,289,720 420,660 1.019,952 588,288 1,016,558 1,674,092 1.774.450 1.440,612 1,604,846 Creditor8 . amount8 falling due withln one yoar 17 833.474 952,225 668,504 793,081 Net ¢urrent assets 840,618 822.225 772,108 811,765 Totsl assets les8 curront Ilabllltles 2.415,007 2,365,253 2,196,620 2,169,822 Ponsion scheme liability 19 87,000 87,000 ProvlslonB for Ilabllltle8 37,085 34.784 Not assets •x¢ludlng pon$lon15ability 2,377,922 2,243,469 2,196,620 2.082,822 The fund8 of th• charlty Reslricled funds Unfestricled funds 20 21 71.375 2.3C6.547 7,550 2,235,919 484.318 1.712.302 420,494 1,682,328 Fund balances at 31 March 2024 2,377,922 2,243.469 2,196,620 2,082,822 The company is enlilled lo lh6 exemption from the audit requirement conlained in so¢1ion 477 of the Companies Act 2006, lor the year ended 31 March 2024, although an audit has been carried out under Section 144 of th8 Charilies Act 2011. The directors acknowledge their responsibililies lor complying with the r8quiremenls ol Ihe Companiès Act 20(￿ with respect lo accounting records and the preparation of financial slalernenls. The members have not required the company lo obtain an audil ol ils financial slalemenls under Ihe requiiemenls of the Companies Act 2006, fow the year in question in accordance wilh section 476. These financial statements have been prepared in accordance with the provisions applicable lo companies subjecl to the small companies regimg. The financial slalemenls were approved by thg Iruslees on . H J Barber Trustee Company registration number 04089288 IEngland and Wales) HALIFAX OPPORTUNITIES TRUST CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatlng actlvlties Cash generaled from operations Tax paid 26 155.243 20.790 175,207 3,196 134,453 178,403 Investing activlties Purchase of tangible fixed assets Investmenl income received 98,892 19.840 85,965 8,676 Net cash generated froml(used in) investing a¢tlvltles 79,052 77.289 Net cash used in financing activltles Net Increase In cash and cash equlvalents 55,401 255,692 Cash and cash equivalents at beginning of year 1,289,720 1,545,412 Cash and cash equlvalents at end of year 1,345,122 1,289,720 27- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles Charity Informatlon Hallfax Opportunities Trusl is a privale company limited by guarantee incorporaled in England and Wales. The registered office is Hanson Lane Enterprise Cenlre. Hanson Lane. Halifax, Wesl Yorkshire, HX15PG. Amonded accounts The pension scheme has a nel pension asset of£82,000 at 31 March 2024. This is not recognlsed in these accounts, in line with FRS102, on the basis that the asset is not recovered by reduced contributions or refunds to the plan. The origlnal financial statements incorreclly included a nel pension liabilily of £82,000 al 31 March 2024. The revised financial statements replace the original accounts, are now the slalulory accounts and ar8 pr8par8d as they were at the dale of the Original accounts 1.1 Ac¢ounllng convention The linancial statements hav8 been prepared in accofdanta with the Charity's Igoverning document], lh8 Companie5 Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ir61and" {"FRS 102"} and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounls in accordance with the Financlal Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency ol Ihe Charity. Monetary amounts in these financial s18t8menls are rounded lo the nearest £. The financial slalemenls have been prepared under the historical cost convention, with the èXCePilon of inveslm8nls which are Includèd al market value, as modified by the revaluallon of certain assets. Group linan¢lal statements The Statement of Financial Aclivilies (SOFA) and balance sheet consolidate the financial slalemenls of the charity and ils subsidiary undertaking. The results of the subsidiary are consolidated on a line-by-llno basis. The Charlly has availed itself of Paragraph 3 131 of Schedule 4 of Ihe Companies Act 2006 and adapiod the Companies Act formals lo reflè¢1 the special nalure of Ihe Charity's activili8s. No separate SOFA or Income and Expenditure Account have been pres8nled for Ihe Charity alone as permitted by section 230 of th8 Companies Act 2006 and paragraph 327 of the SORP. 1.2 Golng concern Al the lime of approving the flnanclal slalemenls, th8 Iruslees have a reasonable expectation Ihal Ihe Charity has adequate resources to continue in operational existence for the foreseeable future. Thus Ihe trustees continue lo adopt the going concefn basis of accounting in preparing the financial stalemenl5. 1.3 Charitabl8 funds Unrestricted funds ar8 available for use at the discretion of the trustees in furtherance of Ih81r charitable objectives. Reslricled funds are subjecl lo specific conditions by donors or gTanlors as to how they may be used. The purposes and uses of the restricted funds are sel out in the noles lo the financial slalemenls. 1.4 Incomo Income is recognised when Ihe Charity is legally enli118d to il after any performance conditions have been met, the amounts can be measured reliably. and il is probable that income will be received. Cash donation5 are recognised on receipt. Other donations are recognised once the Charity has been noliflad of the donation, unless perforfflance conditions requi￿ deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donalion. Legacies are recognis8d on receipt or othefwi5e if the Charily has bgen notified of an impending distribution, Ihe amount Is known, and receipt is expecled. If the amounl is not known, the legacy is treated as a conlingenl assel. 28- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies Icontlnuod) 1.5 Expenditure Expenditure is iecognised once thbr& is a18gal or constructive obligation lo Iransfer economic benefit lo a third party, it is probable that a transfèr of economic benefits will be required in selllem8nl, and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each actNity are made up ol the lolal ol direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs allribulable lo a single aclivily are allocated directly to that aclivily. Shared cos15 which conlribul8 lo more than one activity and support Gosls which are not allribulable lo a single aGtivily are apportioned be￿een those activities on a basis consislenl with Ihe use of resources. Central staff costs are allocated on Ihe basis of lime spent, and depfeciation Gharges are allocated on the portion of the assel'5 Use. 1.6 Tangible fixed assets Tangible fixed assets are inilially measured al cost and subsequently measured al cost or valuation, net of depr6cialion and any impairment losses. Depreclalion is recognised so as lo write off Ihe cosl or valuation of assets less their residual v8lugS Ovgr their useful lives on the Following bases- Leasehold land and buildings Fixtures and fillings Computers Molor vehic18S Kitchen equipment Office Equipment Over the 18rm of the lease 15/• on cost 33 /• on cost 33¥D on cost 15% on cosl 15.kn on cosl The galn or loss arising on the disposal of an asset is determined as the difference between thè sale proceods and the carrying value of Ihe ass81, and is recognised in the slalemenl of financial aclivilies. 1.7 Fixed asset Snve$tments Fixed ass61 investments are initially measured al transaction price excluding Iransaclion co51s, and are subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in nel incomel lexpenditurel for the year. Transaction costs ar8 oxpensed as incurred. A subsldlary is an enlily conlroll8d by the Charity. Control is the power lo govem the financial and opèrating policies of th8 8ntity 50 as lo obtain benefits from ils aclivilies. 1.8 Impairment of flxed assets Al each reporting end dale. the Charlly reviews Ihe carrying amounts of its tangible assets lo determine whether there is any indication that those assets have suffered an impairment 105s. If any such indication exists, the recoverable amounl of the asset is eslimaled in order to determine the extent of the impairmenl loss lif any). 1.9 Cash and cash equivalenls Cash and ¢a5h equival8nls include cash in hand, deposits held al call with banks, olher shorl-lerm liquid investments with original malurilies of three months or less. and bank overdrafts. Bank overdrafts ar& shown within borfowings in current liabilities. -29- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles (Continued) 1.10 Financial Instruments Th8 Charity has elected to apply Ihe provisions of Sectlon 11 'Basic Financial Inslrumenls, and Section 12 '01her Financial Instruments Issues, of FRS 102 lo all of ils financial instruments. Financial instruments are rècognised in Ihe ch8n1￿5 balance sheet whon the Charity become5 party to the contractual provisions of the inslrumenl. Financial assets and liabilities are offsel, with Ihe nel 8mounls presented in the financial slat8m8nts, wh8n Ih8re is a legally gnforceable right lo set off the recognised amounls and there is an intention to settle on a net basis or to realis8 the asset and settle the liability simultaneously. Baslc financlal assets Basic financial assets, which include debtors and cash and bank balances, afe initially measured al transaction price including transaction costs and are subsequently carried al amortlsed cost using ihe effective interest melhod unless the arrangement conslilules a financing transacllon. wherè the transaction is measured al the present value of the future receipts discounled al a market rale of inleresl. Financial ass8ls classified as receivable within one year are not amortised. Baslc financlal Ilabllltles Basic financial liabilities, in¢ltsding credilors and bank loans are initially r8cognised al transaction pric8 unless the arrangement conslilules a financing transaction. where Ihe debt instrument is measured al the present value of the future payments discounled al a market rale of intere51. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective Interesl rale method. Trade creditors are obligations lo pay for goods or services that hav8 b99n acquired in the ordinary course of operations from suppllers. Amounls payable are classified as Current liabilities if payment is due wilhin one year or less. If not, they are presented as non-curr8nl liabilities. Trade creditors are recognised initially al transaction price and subs8quenlly measured al amortised cost using Ihe effective inleresl melh¢)d. Derecognltlon of Ilnancial liabilitles Financial 5iabili1188 are derecognised when Ihe Charily's conlraclual obligations expire or are discharged or cancelled. 1.11 Provisions Provision5 ar8 recognlsed when the Charity has a legal or conslruclive present obligation as a result of a past event, il is probable that the Charity will be required lo settle that obligation and a r81iabl8 8slimale can be made of the amount of the obligation. The amount recognised as a provision is Ihe besl 8slimale of the consideration required lo sellle the present obligation al the reporling end dale. taking into account the risks and uncertainties SL¢rrounding Ihe obligation. Where the effect of the time value of money is material. the amount expected lo b8 rèquired lo sellle the obligation is recognised al present value. When a provision is measured at present value, the unwinding of the discount 15 recognised as a finance cost in nel incomel(expendilure) in the period in which il arises. 1.12 Employee benefits The c05t of any unused holiday ontitlemenl is recognised in the period in which the employee's services are received. Terminalion benefits are recognised immediately a5 an expense when the Charlly is démonstrably committed to lerminale the employment of an employee or lo provide lerminalion benefit5. 30- HALIFAX OPPORTUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policles {Continuodl 1.13 Retlrement bgnptits Payments lo defined contribution retirement benefit schemes are charged as an expense as Ihay fall due. Crltical accounllng estlmates and judgements In the application of the Charity's accounting policies. the Iruslees are required lo make judgements, estimates and assumptions about the carying amounl of assets and liabilities that are not readily apparent from other SOUTces. The eslimales and associated assumptions are based on hi51ofical experience and other factors that are considered lo b8 relevant, Aclual resulls may differ from these eslimales. The eslimates and underlying assumplions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the eslimale is revised where the revision affects only Ihal period, or in the period of the revlsion and fulure periods where the rovision affecls both current and future periods. 31 HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestrlcted funds 2024 Restricted funds 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Tolal 2024 2023 Donations and legacies Grants re¢elved 74 103,313 74 103,313 618 107,657 618 107,657 Total Incom• 103,239 103,239 108,275 108,275 Grants rgcelvable lor cor• activitigs National Milk Granl Scheme Slaying Well Projècl 2.C69 101.244 2.069 101,244 2,835 104,822 2,835 104,822 103.313 103,313 107,657 107,657 32- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activities Provision of gmployment. educatlon and training 8orvi¢e$ Provision of childcare and family support services Promoting Managemgnt health and admlnlstratlon Wgllbeing and m8mbershlp Total 2024 2024 2024 2024 2024 Charitable aclivi118s income 585.014 3,095,881 180,884 1,279 3,863,058 585,014 3.095.881 180,884 1.279 3,863,058 Analy81$ by fund Unrestri¢led lund$ Reslricled lund$ 230.357 4,657 2,653.743 442,138 24,842 156,042 1,029 2SO 2,909,971 953,087 585.014 3,095.881 180,884 1,279 3,863,058 2023 2023 2023 2023 2023 Charitable a¢livilies income 657.350 2,825,839 184,965 100.237 3.768,391 657.350 2,825,839 184,965 100,237 3.768,391 Analy6Is by fund Unreslricled funds Reslricled funds 100,045 557,305 2,299.079 528.760 67,655 117,310 100,237 2,567.016 1,201,375 657,350 2.825.839 184,965 100,237 3,768,391 33- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other trading acllvlties Unrastricted Unrestrlcted fund$ lund8 2024 2023 HOT Enlerprises Limited 727,630 675,907 727,630 675,907 Income from Invèstment8 UnroBtrictod Unrestricted funds 2024 funds 2023 Interest rec8ivab 19,840 8.676 19,840 8,676 * tyb r4 05 t4 (T* O ¥) 5 tyi x- + LT> e w r - t4 aj O ¢yj O tr- O- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Other tTadlng costs UnTestricted Unrestrlct&d fund5 2023 fund5 2024 HOT Enterprises Limited 641,367 634.708 641,367 634,708 Support costs allocatèd to actlvltl•$ 2024 2023 Govèrnance Costs 32.488 45,762 Analys•d botWO0n'. Provision of employment, educalion and Iraining servKes Provision ol childcafe and family supporl services Promoting health and wellbeing Management adminislTalion and MeM￿r$h￿p 11,538 3.000 7,993 9,957 14,665 19.211 11,886 32.488 45.762 10 Net movom•nt In lund$ 2024 2023 The nel movement in funds ig sloled after chargiThJlluediling Fees payable lor the audit ol Ihe charity's financial slalemenls - Audit sorvi¢e$ D8preciation of owned tangible fixed assets 12,649 67.532 11,260 71,413 Tru8tè68 None ol Ihe Iruslees lor any persons conne¢led wilh them) received ary remuneration or benefits Ifom Ihe charily during Ihe year. Trustees indemnily insurance cover is included within the charitys main insurance poli¢y, hgwever the premium paid is nol separately identifiable frorn the lolal cosl inculred. Tru8tQ98 expgn$gS No Iruslee5 expenses were pa￿ during the financial yeaf. HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Employè¢s The average monlhly numb8r ol èmployees during the year was.. 2024 Number 145 16 12 2023 Number 164 17 Charitable Activities Administrative Governanca 173 182 Employment costs 2024 2023 Wages and salaries Spcial secuirty costs Other pension costs 2,975,735 226,829 77,482 2,873,465 224,959 81,357 3,280,046 3,179.781 The remuneration of key m8n8gement personnel was as follows.. 2024 2023 Aggregate compensation 332.855 319,189 13 Taxatlon The charity is exempl from t8X81ion on its aclivilie8 because all ils income is applied for charitable purposes Tax charges shown relate lo deferred tax and corporation lax applied to the trading subsidiary Hof Enterprises Limitèd -37- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Fixed asset Investments GROUP 2024 CHARITY 2024 2023 2023 Illarket Value Al 1 April 2023 and 31 March 2024 101 101 Net Book Valu8 Al 31 March 2023 and 31 March 2024 101 101 Thère were no Investment assels outside the UK. The companWs investmen15 al the balance $heel dale include the following Hanson Lane Enter Cèntie Limlted rlse HOT Enter rl898 Limilod Class ol Share Ordinary 1009 Dormant company Qrdinary 100Q Provision of high-qu8lily modern work$pacè. Vo Holding Nature of business.. Summa of 31103124 31103123 31103124 31103123 Turnover Total Expenditure Taxallon 816,278 774.835 20,79) 780,583 744,071 3,196 20,653 33,318 69,667 Donalion to porèni chafily (Paid in Yearl 20,653 36,351 Summa Assets 548,689 367,294 526.370 38S,628 181,395 160,742 16 DBbtors GROUP 2024 CHARITY 2023 2024 2023 Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 284.226 352,437 218.367 165,238 244.013 219,700 44.744 132,293 37,055 124.575 328.970 484,730 420,660 588.288 -40- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Creditors GROUP 2024 CHARITY 2024 2023 2023 Other taxation and social security Trade creditors 90.950 80.685 9,827 652.012 70,932 95,195 18,518 767,580 55,761 51,175 9,827 551,741 56,114 60,578 18,518 657,871 Other credilofs Accruals and deferred income 833,474 952,225 668,504 793.081 18 Penslon Scheme liabi1Sty GROUP 2024 CHARITY 2024 2023 2023 Pension scheme 87,000 87,000 Movements on provlslon8: GROUP 2024 CHARITY 2024 2023 2023 Al 1 April 2023 Other movements 87,000 87.000 1,585,000 1,498,000 87,000 87,000 1,585,000 1,498,000 Al 31 March 2023 87,000 87,000 19 Retlrement beneflt schemes 2024 2023 Deflned contrlbution Schemes Charge to profil or loss in respect of defined conlribulion schemes 77,482 81,357 The charity opefates a detined contnbution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund -41 HALIFAX OPPORTUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Retirement benoflt schemes (Continued) The charity is a member of a defined benefil scheme with The Wesl Yorkshire Pansion Fund. The Wesl Yorkshire Pension Fund Sch8me is funded and contracted out of the slate scheme. The lasl Iri-annual valuatlon of the scheme took place at 31 March 2022 and was underiaken by professionally qualified actuaries, AON Hewill, using the projected unil method. The Charity has paid for a valuation of ils scheme as al 31 March 2024 and the figures below are based on that valualion. The charity becamè a participating employer in the scheme on 1 July 2014 and acquired nel liabilities of £528,000 on that date. The notional value of the liabililies of the charity's shale of the scheme al 31 MaTch 2024 was £4,170,000 the present value of the assets was £4.252.000 leaving a net pension asset of £82.000 al 31 March 2024. This 15 not recognised in these accounts, in line with FRS102, on the basis that the asset is not recovered by reduced contributions or refunds to the plan. Contribution Th8 employer contributions made lo the scheme during the year were £Nil (2023: 5,OQOI. £Nil was unpaid al the year end. The employers r8gular conlribulions to the Fund for the accounting pgriod ending 31 March 2024 are eslimated lo be £Nil. assum lions The lalesl actuarial valuation of the Ch8rllVs li8bililies took plac8 as at 31 March 2022. Liabililles have been eslimaled by the indapendenl qualified actuary on an actuarial basis using the projected unil credll method. The principal assumptions used by thè actuary in updaling the latest valuation ot the Fund for FRS 102 purpose5 31 March 2024 {°h) 4.80 2.60 2.60 2.60 3.85 31 March 2023 Discount rale Inflation CPI Pension increases Pension accounts revalualion rale Salary increase5 4.70 2.70 2.70 2.70 3.00 ecled return on assets The approximat8 split of assets for th8 Fund as a whole (based on data supplied by the Fund Administering Aulhorilyl Is shown irs the tab18 b8low. Also shown are Ihe assumed rates of return adopled by the Employer for the purposes of FRS 102. Th8 charity employs a building block approach in delemining the rale of r8lurn on Fund a5sels. Historical markets are studied and assets with higher volatility are assumed lo generate higher returns con51Stenl with widely accepted capilal market principles. The assumed rale of return on each a5sel class Is sel out within this note. The overall rale of return on asse15 15 Ihen derived by aggregating the expectèd relurn for each asset class over the actual assel allocation fof the Fund at 31 March 2022. Asset split at 31 March 2024 (°A) 79.4 Asset splil at 31 March 2023 1/01 80.8 Equities Properly Government bonds Corporate bonds Cash Olh8r Average Return l Totsl 100.00 100.00 -42- HALIFAX OPPORTUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Retlrement bonefit sch•mes {Contlnuedl econciliation of fund8d slalus lo Balance Sheet Value as al 31 March 2024 £OQO's 4,252 14.170) 82 Value as at March 2023 £OOO's 4.010 14,0971 187) Fair value of assets Present value of funded liabillties Pension asset I Illabilily) before consideration of paragraph 41 Unrecognised assel due lo limit in paragraph 41 Net penslon asseulllablllty) 82 (87) Anal sis of rofil and lo char Period endin 31 March 024 £00 Operatlng cost: Current servicè cost Past service cosl Interest ¢osl Curtailmanl cost Selllemenl cost Flnancing cost.. Interest on nel definèd benofil liability l (asset) Pension expense recognlsed In SOFA 59 64 Chan es lo the resent value of h d fined benefit obl5 ation Perlod endin 31 March 2024 £000'5 4,097 59 191 18 1831 {631 56 11051 Opening defined benefit obligation Current service cost Interest expense on defined benefit obligallon Contributions by participants Actuarial Igainsl I losses due lo changes in financial assumptions Actuarial {gainsl I losses due to changes in demographic assumptions Actuarial {gains} I losses due to liability experi8nc8 Nel benefits paid out Past service cost Nel increase in liabilities from disposals l acquisitions Curtailment cost Selllemenls Closlng dafined benellt obllgal¢on 4,170 Ch lo Ihe fair value of assets Period endin 31 March 2024 £OOO's 4.010 186 143 Opening fair value of assets Inlgresl income on assets Re-measurement gains I (losses) on assets Conlfibulions by the employer Conlfibulions by participants Nel benefits paid out Net increase in assets from disposals and acquisition5 S8lllements C1051ng fair value ol asset5 18 1105) 4,252 -43- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Restrlcted funds The restricted lunds ol ihe charity compThse ihe unexpended bala￿S of thJ)ations and grants hekl on tfusl subject lo specific conditions by donors as to Mow they may be used At 1 Aprll 2023 Ineomlng Rèsourcès Aesourees •xp•nded Transfers At 31 Maich 2024 Active Calderdale 12.041 2.750 920 7.754 261 2,766 12,057 ARCHES IEmployrnentl Building Beller Opportunities- Hopefijl Families The Buzz PiojKI CAL ESOL Calfund Celebraling Cultural Haimcfjy, Qaw41i Community Organisers Connecting Opportunities EEF Cenlr•s- Jtibilee Nursery EEF Centres- Siddal Nursery EEF Centres- Sow&rby New Road Nu$ery OEFRA EEF Centras- Todmordtn Nursery Elsie Whi¢eley Innov81ion Centre ESOL Syrian Families Food Parcel Dèlivery. Covid 19 Frorn HOT lo COLO ' R?￿Ging our Carl￿n Fogtprinl Greener Together Groundwork - Steps to wofk Inrlu$lvo E¢¢nomy Individual Fund Innovalion Fund Inspire Kickstart Littl8 Gems Nursery MaGmillan Miero Gr8nts SWYPFT Moving Fofward Together Multiply Neighbouihood Learning Deprived Comm¢Jnities NHS Hospi181 Recruitm•nt Ev•nl Place Ba5od Social A¢lion Prayer M81$ lo Gym Mal$ Propcls AH Social Actlon Hub Tandrusti Project Th* Space Raslrick The Work¥hop Inc( Thrivin9 Communities Partnership FuTh*ThJ Together C81derdale Project UKSPF . Green Audit UKSPF- Main Conli8cl UKSPF - UKSPF Plot lo Plate UKSPF Fin8ncSal Res11ien¢e UKSPF- Walking Rwlfe VCS. ESOL 820 7,064 6.720 9.327 261 83 27 1.339 27 27 35,715 2,073 3S.715 1,073 59 241 25S,806 44,054 130 85,3SO 1,312 1,000 59 36,001 1.990 399 5.005 35,760 1,9￿) 399 4.875 255,806 44.05d 85.360 412.943 71 2.254 4.657 14.956 3.148 412,943 134.763 134,7S3 71 2,254 4,657 8,081 8,081 14,958 3,148 58G 61,699 250 1.068 61,699 250 1,068 8.862 713 938 8.862 713 56.917 427 13.683 43,107 970 62,914 427 S,935 13,683 279 42.828 970 83 83 2,250 60,675 2,538 5,089 2,250 60,675 2,538 5,089 10,507 10,507 65.33 65.334 3,5e4 3,584 207 143 1,441 207 143 1.146 90 41,017 37 670 220 17,845 295 180 41.017 37 670 220 17,845 420,494 953.087 942.626 53,364 484,316 Charlty Gmup 420.494 7.551 953.087 953.087 942.626 942,626 53,364 53,364 484,318 71.375 -44- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Restrlctad funds IContlnu•dl At 1 Aprll 2022 Incoming Resources Rosourc•s expende(I rransf¢rs Al 31 Mar¢h 2023 Active Calderdale Aichile¢lural Heritage F¢Jnd - Hopwood Triangle Aiches Building Beltei Opportunities- Hopaftjl Families BU￿ ProieGI CAL ESOL Caldeidale Food N8tNOfk Callund Communlty Led Home5 (Start Up Supporti Comrnunity Organi8er$ Connecting Opportunities DEFRA EEF Cenlres - Jubllee Nursery EEF Cenlres Si¢Jdal Nursery EEF Cenlres - Sowerby New Road Nusery DEFRA EEF Cènlres- Todmordèn Nursery Elsie Vvhileley Innovalion G¢ntrg Employment SeNices- Holiday Kii¢httn ESOL Prolect costs ESOL.. Syrian Fam￿leS Food Parcel Delivery- Covicj 19 From HOT lo COLD .' Reducing our Carbon Foolpnnt Gr¢&n¢r Togolhor Groundwork- Steps lo work Harnessing Pow8r ol Communltle$ Health In￿Uall1Ies Fund In¢lu$ive Economy Individual Fund Inspire KIcks￿rt Little Goms Nursery Noighbourhood L¢aming loi DepThved Communrties Pla¢e 8a$ed Social A¢lion Properovs Calderdal• Sehal- P2C CCLORS Social Action Hu Slaying Well Pro5eci The Space Raslrick Together Calderdale Proiect UKSPF - Green Audit 6.090 1.350 27,008 39,049 6.090 1.350 12.041 280 207.131 1,116 28D 198,411 1.116 27 8,720 27 789 789 24.229 22.890 1,339 275 512 10.174 32 275 512 10,174 32 139.694 175,454 35,760 199.497 79.450 197,507 79,849 1,990 399 4,875 4.875 87.316 69,668 87,316 3,4B1 346.758 3,462 4.294 412.943 3,462 4,294 25,044 78 4,657 27,248 3.148 417 25,115 677 71 2,284 4,657 14,956 3.148 2,853 12,292 417 180 18,363 633 36.863 64.001 160,496 17,777 833 28.￿1 63,288 161,434 586 8,862 713 938 13.655 1.994 1.427 3,4 13,655 1,994 1.427 3,406 50,593 50.593 10,507 10.507 27.736 27.738 3.584 34.337 5,000 3.584 34.337 5,Q90 90 317.136 1,271,042 1.205,034 37.350 420,494 Charliy Group 317.136 29.622 1,271.043 1.201.375 1,205,034 1,201,553 37,350 37,35Q 420,494 T,5SO -45- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Unrestrlcted funds The unreslricled funds of the Ghaiily comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been sel aside out ol unrestricted funds by the trustees lor specific purFX)ses. CHARITY: At 1 April 2023 Incomlng Resources Resources Transfers Gains and lo$$es At 31 March 2024 expended General Funds Designated - Housing Fund Revaluation reserve 260.128 150.0 1,339,200 87.000 3,421.783 3.394,645 13,136 66,500 300.402 83,500 1.328,400 10.800 Pension reserve 87,000 1,662.328 3,421,783 3,405,445 53.364 87,000 1,712,302 GROUP: At 1 Aprll 2023 IncomSng Resourees Resources Transfèrs Gains and Al 31 March 1088es 2024 èxpènded General Funds Designated - Housing Fund Revaluation reseNe 833,719 150.000 1,339.200 87.000 3,760.680 3,712.888 13,136 66,500 894.647 83,SOO 1,328,400 10,800 Pension reserve 87,000 2,235,919 3,760,680 3,723,688 53,364 87,000 2,306.547 en fund Transfers between funds represent Ihe movemenl ol year end balances relating lo projecls that have ended and the closing balances have been agreed with the funder lo be ulilised by the charity on allernalive projects. -46- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Unrestrlcled funds Icontlnuedl CHARITY.. At 1 April 2022 Incomlng Resources RÈsouTces expèndèd Transfers Galns and At 31 March 2023 losses General Funds 559.626 3,032,542 3.144.691 187.351 150.000 260,126 150,000 1,339,200 87,000 Designated - Housing Fund Revaluation reserve 1,350.000 1,585.000 10.800 Pension reserve 1,498,000 324.626 3,032,542 3.155,491 37.351 1,498,000 1,662.326 GROUP: At 1 Aprll 2022 Incoming Resources Re8our¢es expended Tran8f6rs Transfe18 At 31 March 2023 Gfyneral Funds Designated - Housing Fund Revaluation reserve Pension res8rv8 1.103,382 3,359,874 3,442,186 187,351 150,000 833,719 150,000 1,339,200 87,000 1,350,000 1.585,000 10.800 1,498,000 868,382 3,359,874 3.452.986 37,351 1.498,000 2,235,919 -47- HALIFAX OPPORTUNITIES TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Analysls of net assets between funds Unrestrlcted Restrlcled Total funds funds 2024 2024 2024 At 31 March 2024: Tangible assets Current assels I Ilabilities Provisions 1.574,389 769,243 37.085 1,574,389 840,618 37,085 71,375 2.306,547 71,375 2,377,922 Unrnstrlctod funds 2023 Restrl¢tsd funds 2023 Total 2023 At 31 March 2023 Tangible assets Current assets I Iliabililie81 Provisions 1,543,028 814,675 121,784 1,543,028 822,225 121,784 7,550 2,235,919 7,550 2,243,469 23 Operatlng lease cornmltments 2024 2023 Within one year Between tsvo and five years In over five years 17 21 235 237 258 264 24 Contlngenl Ilabllity As a member of a VAT group with ils subsidiary company, the charily is joinlly and sevefally liable for the VAT debts of the VA T group members. 28 uitlmate controlllng party The charily is under the control ol Ihe board of truslees. -48- HALIFAX OPPORTUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Cash generated from operatlons 2024 2023 Surplus for the year 68,243 90,095 Adjustmen15 for.. Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets Difference between pension charge and cash contribullon$ Movements in working capital.. Decreas8llincreasei in debtors Increasel{decrea5e} in creditors decrease In provisions 19,840 67,532 87,000 8.676 71,413 1,498,000 155.759 116,450 87,000 327,232 179,383 1,498,000 Cash genèrated from operations 155,243 175,207 27 Analysls of changes in net funds The charity had no malerlal debt during the year. -49-