REGISTERED COMPANY NUMBER." 05930465 (England and Wales) REGISTERED CHARITY NUMBER: 1117768 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR HUDOERSFIELD GIANTS COMMUNITY TRUST LTD Shenward LLP Chartered Accountants & Slatutory Auditors Sumrnit House Woodland Park Bradford Road Cleckheaton West Yorkshire BD19 6BW AEBM240 2210912025 COMPANIES HOUSE A14
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HUDDERSFIELD GIANTS COMMUNITY TRUST LTD CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Reference and Administrative Details Report of tha Trustees 2 to 12 statement of Trustees, Responsibllities 13 Report of the Independent Auditors 14 to 17 Statement of Financial Activities 18 Statement of Flnanclal P08ition 19 Ststement of Cash Flow8 20 Notes to the Statement of Cash Flows 21 Notes to the Financial Statements 22 to 34
HUODERSFIELD GIANTS COMMUNITY TRUST LTD REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES MsJMABebb MS J L Iveson (resigned 10.9.24) J Singh Athwal R Thewlis (resigned 24.10.24) Ms T Vink (resigned 24.11.24) J IthiOrth REGISTERED OFFICE The Zone Huddersfield West Yorkshire HD16PT REGISTERED COMPANY NUMBER 05930465 (En9land and Wales) REGISTERED CHARITY NUMBER 1117768 INDEPENDENT AUDITORS Shenward LLP Chartered Accountants & Statutory Audltors Summit House Woodland Park Bradford Road Cleckheaton West Yorkshire BD19 6BW SOLICITORS Ramsdens LLP Oakley House 1 Hungerford Road Huddersfield HD3 3AL BANKERS Yorkshire Banklvirgin Money Kingsgate House Kingsgate Bradford B014SJ Page 1
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees who are also directors of the charity for the purposes of the Companies Acl 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charrties preparing their a¢¢ounts in accordance Trmth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Page 2
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES Objectives and aims Huddersfield Giants Community Trust - Actively Inspiring People The principal activity of the trust is the provision of a community facility to promote sport, education. health & wellbeing, play, and exercise while having funl HGCT is a registered Charily (1117768). It is the biggest affiliated trust attached to a Rugby League club, The Huddersfield Giants Super League club. The trust strives to be a secure. widely celebrated, and inclusive charity supporting the club on its mission to be a top-lier super league team. The trust uses Ihe power of sport to inspire people of all ages and abilities through 4 key areas.. Sport, Education, Health & Social Inclusion. HGCT is also known as The Zone- Where Play Happens! We can engage people, improve community cohesion, improve fitness and well-being. and raise the hopes and aspirations of the people of Kirklees and the wider area. Ultimately, we want to be seen as an organisation that removes all obstacles to inclusion. Our objectives are to promote any charitable purpose for the general benefit of the community and, in particular those living and working wthin a entY-MIle radius of Stadium Way, Huddersfield, West Yorkshire and without prejudice to the generality of foregoing.. To relieve poverty, old age, disablement and economic deprivation within the community. To advance education, including social, physical and vocational training, the provision of training for unemployed people and adult education within the community. To provide or assist in the provision, in the interests of social welfare, of facilities for recreation and other leisure time occupations for those within the community who have a special need of such facilrties. To promote the health of the community by the provision of facilities for playing football. rugby league and other healthy sports. To promote good citizenship within the community, and To promote harmony between people of different ethnlc and cultural backgi'uunds within the community- Huddersfield Giants Community Trust (HGCT) is committed to its mission of engaging, inspiring, and positively impacting the local community through sport, health, education, and inclusion initiatives. The following sections detail our aims, objectives, strategies, and the activities undertaken during the reporting period, Through our initiatives, HGCT aims to make a tangible difference by improving health outcomes, increasing access to educational resources and strengthening community Gohesion. How Achievement of Aims Furthers Legal Purposes The successful delivery of aur programmes furthers our charitable purposes by.. Promoting public health, which aligns with our health and well-being objectives. Advancing education for all, particularly young people in need. Strengthening community integration, thereby reducing inequalities. Our legal purpose is grounded in the advancemenl of health, education, and social welfare for public benefit, and all our activities reflect this commitment. Strategies for Achieving Aims To achieve our stated objectives, HGCT employs the following strategies= Collaborating with local schools, businesses, and community organisations to deliver wide-reaching programmes. Page 3
HUDDERSFIELD GIANTS COMMUNI TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Continuous monitoring and evaluation of programmes to ensure their effectiveness and relevance. Diversifying our funding sources, including grants, sponsorships, and partnerships, to ensure sustainability. Criteria for Measuring Success We measure success through.. Quantitative data, such as the number of beneficiaries reached the frequency of programme participalion, and educational achievements. Qualitative feedback from participants, community members, and partners, lch all0v us to assess the social impact of our work. Regular assessments against our Operational Plan, which is actioned quarterly, ensuring that we remain aligned with our charitable mlssion. In the short term, HGCT aims to increase participation in our health and well-being programmes by 200A over the next year and expand educational outreach to an additional 10 schools in the local communily, while accessing funding to support inclusion, ensuring we support our multi-sensory Zone and reach out to the community with new offer for children and adults with special educational needs and disabilities. Significant acllvltles During Ihe reporting period, HGCT implemented several signlficanl activities that directly contrlbuted to our aims.. Health and Well-being Programmes.. Regular physical activlty sessions for children. adults, and vulnerable groups aimed at improving fiiness levels and mental health. Educational Support.. Our outreach programmes in local schools provided academic and vocational support to over 500 studenls, Contributing lo better educational outcomes. Community Engagement Projects.. Through our inclusive sports programmes, we fostered partlcipatlon among underrepresented groups. promoting social incluslon and Cohesion. These activities align th our goals of promoting health, education, and inclusion, and their successful delivery marks a significant slep in fulfilling HGCT'S charitable objectives. A sample of some of the programmes offered in 2024 includes: School Partnership, Programme to deliver engaging sporting sessions to schools. School Holiday Sports Camps, providing active and engaging school holiday sesslons in the Zone. Senior Touch Rugby, Walking Football & Over 50's Cricket. Cheer classes and competition entry. Provision of a Dementia Cafe. Reminiscence sessions- discussions about rugby league in the good old days The trust also continues to build on its high-quality rugby pathways for young people and relationships with amateur Gommunity club partners The trust also delivers education to year 12 and 13 based on sports courses for school leavers - predominantly rugbylcoaching-based Level 3 BTEC. We also provide students with the opportunity for further study. Page 4
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES Public benefit The Zone is an indoor venue located close to Huddersfield Town Centre. It is Yorkshire's largest indoor soft play gym for children up to 12 years old. We provide a variety of opportunities for the community. Indoor pitch hire is designed for 5 & 6 a-side, social bookings, sports training and over 50's activities. We offer numerous birthday packages emphasising exercise, fitness and fun. Within The Zone, the trust provides facilities to encourage all age groups from toddlers to senior citizens to partake in a wide range of physical exercise. Programmes are made available in The Zone for children under S, students from schoolslcolleges, and individuals of all ages and abilities to be coached in a variety of sports and activities. The activities offered within The Zone cater for all-inclusive customers. With links to Huddersfield Giants, The Zone remains a premier place In Kirklees and the Surrounding area for indoor sport and children's activities. When planning the activities for the period the trustees have considered the Charity Commission guidance on public benefit, and in particular, the specific guidance for Charities on the Advancement of Education for Public Benefit and Fee-charging. The trustees strive for continuous improvement to ensure that il is a dynamic, forward thinking community trust. Page 5
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES Volunteers Our five trustees play a vital role in shaping our charity's vision and keeping us true to our mission. They hold ultimate responsibility for govemance, finances. and strategic direction, ensuring we remain accountable and sustainable. Through their leadership, expertise, and commitmenl, our trustees not only provide oversighl and guidance but also create the conditions that allow our charity to grow, thrlve, and deliver lasting impact for our community. A trustee with expertise in social media delivered Linkedln training to all Department Heads, enhancing their skills and confidence to represent the organisation professionally online, strengthening our digital presence, stakeholder engagement, and overall organisational visibility. Reminiscence sessions Every Thursday, we have a dedicated volunteer who leads our reminiscence sessions. He carefully plans and drives each session - choosing the discussion themes, selecting films and photographs, and preparing engaging presentations lo bring memories to life. Through his commitment and creativity, he makes these sessions meaningful and enjoyable, sparking conversation, connection. and joy among those who take part. His contribution is truly invaluable and makes a lasting difference to everyone involved. Junlor cheerleader coaches Our three junior volunteer coaches play a vital role in supporting our Gheerleading sessions. They assist with wami-ups, skill development, and choreography practice, while ensuring a fun, safe, and inclusive environment for children of all ages. By working alongside lead coaches, they provide encouragement and mentorship ihat helps young athletes build both technical skills and personal confidence. Their responsibilities also include helping with group management. demonstraling routines, and fostering positive teamwork among participants, Chaperones Our 13 dedicated chaperones provide essential support during the Annual Show, ensuring the safety, organisation, and smooth operation of the event. They assist performers backslage, help with costume changes, manage lines and stage entry, and provide guidance and reassurance to participants of all ages. Chaperones also liaise with lead staff, helping to coordinate schedules and ensure thal each performance runs on time. Their presence allows the event to proceed safely and efficiently, creating a structured environment where performers can focus on delivering their best. Rugby League Under 15116 girls, coaches Our three volunteers play a vital role in the U15116 girls, rugby programme by supporting coaching delivery. ensuring player welfare and engagement, and managing logistics, which together create a safe, efficient, and positive environment that helps players develop skills, confidence. and a love for the game. Page 6
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRATEGIC REPORT Achievements and performance Charitable activities Kids, play & sports zone The facilities at The Zone particularly the play zone - were used by members of the public. 2,000 chilijren can visit each month. The intenlion is to inspire these children to tske part when they are older in regular football, rugby, ¢heerleadinglgymnastiGs and all the mulli-sport coaching sessions we provide. Pitch hire Pitch hire continued to be the largest income stream for The Zone, with over 70 hours of pitch hire per week. Kixx continued to deliver the Saturday soccer mornlngs. This is for children aged between 5 and 12 years, offering a great environment for children to learn basic football skills and fundamental skills, vjhile meeting other children ofthe same age and having fun. Multisports Coaching rugby league, mullisports, gymnastics, cheerleading and football has continued in schools wherever possible. This has, however, become more challenging due to the number of alternative local providers and school budgets being squee2ed. Cheerleadinglgymnastics The cheerleadlng and gymnastics sessions continued to be well supported and continued to grow throughout 2024. Enquiries and sign-ups are received on a weekjy basis, wth the trust exploring how the sport can be expanded further Attendance at competitions has increased th several team wins during the year. One of our teams look part In an international competition (Future Cheer) in Amsterdam. Education The trust ceased all delivery in June 2024. Fundralslng activltles Throughout the year the trust has engaged in fundraising events to help raise valuable funds lo support the work of the trust. In 2024 fvndralslng was organised 'in-house' with limited targets set. Best practice guidance as set by the funding regulator was followed and there were no complaints received by the charity. The Giant Howarth sleepover 3 was a notable su¢¢ess, providing a powerful insight of what it is like to spend a night outdoors and raising more awareness of the trust. Thls is n(M an annual event, and we hope to double our funds year on year. The trust does not use professional fvndraisers or commercial participanls to perfomi fijndraising activities. Page 7
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRATEGIC REPORT Financial review Financial position The principal funding sources during the year were contracts, grants. donations and income from activities for generating funds. All income generated by the trust is used to fund the aims of the play arealsportsl trust. During the year the trust's cash llow was satisfactory, but the trustees and senior staff are continually looking al and finding new funding streams. Donations and other trading activities.. The trust received £1,250,207 in total (2023.. £625,877). The total expenditure was £299,624 (2023.. £333,841, thus the total contribution was £950,583 (2023.. £292,036) This was due to Jennifer Davy Number 2 {Childrens) Settlement agreeing to cap the loan to the trust to £600,000 and amounts received above this amount {£455,8931 being a donallon. Another reason was our landlords waiving rent owed. which totalled £362,500 {2023'. £350,000). Wthout the donation from our lender, the total contribution would have been £534,116 {2023'. £275,877) Charitable activities.. The trust received £869,221 In total (2023.. £821,151). The total expenditure was £1.322,561 {2023.' £1,189,732), thus making a loss of £453,340 (2023.. loss £ 368,581> This was due to various factors such as the national minimum wage increase, and general increase in costs because of the ongoing global situation. Bank interest of £588 was also received {2023'. £193) The trust received total net funds of £497,831 (2023.. loss £76,352), and without the donation from our lender, Ihis would have been £41,938 Funding Funds received in 2024 include the following but are not exhaustive.. RFL - £44,342 to deliver rugby sessions, work with ambassador clubs and youth development Wesl Yorkshire Combined Authority - £4,871 to deliver early years activities Kirklees Council - £8,250 for Summer1nter HAF Coffeesafe - £2,250 for supporting delivery in the Zone for children in disadvantaged areas. One Community Foundation £4,894 for a SafePlace in the Zone and £9,788 which was deferred last year due to the lateness in communication to organise a December start, The completed date was March 2024. Page 8
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRATEGIC REPORT Financial review Reserves policy The trustees have agreed Ihat the trust should aim to maintain unrestricted reserves of £100,000. The £100,000 reserves are based on the trustees. view that approximately Iwo months salaries is an appropriate target. Unrestricted funds at the beginning of the year showed a surplus of £49.382. This increased at the year end to £395,930. This Occurred due to the donation received from Jennifer Davy Number 2 (Childrens) Seltlement 1997 of £455,893. Without this donation the unrestricted fund surplus would have been £59,963 in deficit. The trustees continue to work towards maintaining the sum of £100,000 or more through sourclng new funding streams, expanding on existing ones and identifying more efficient ways of operating. The trustees are confident that the charity is in a good position to continue growth in existing and new areas. Presently, the charity remains reliant on its financial backer. Included within unrestricted reseNes is £985,278 {2023.' £982,000) which can only be realised by disposing of tangible fixed assets, leaving a deficit of £589,348 (2023.. deficit £933,000) of unrestricted free resees. At the end of the year restricted funds, not available for general purposes, total £143,251. Total reseNes of the trust at the year end are £588,563 (2023: £91,000). Golng ¢on¢ern The charity has an overdraft facility of £100,000. However, this has not been used to date, The charity remains committed to careful cashflow management to ensure sufficient working capStal is maintalned. The charity has received considerable support from its landlord in the waiver of rent charges when this would cause the charity to be unable to meet its liabilities as they fall due. The landlord has confirmed that future renl payments will be waived if this would otherwise cause the charlty to cease to be a going concern. In addition, the landlord has confimied that they will provide necessary financial support required to enable the charity to continue trading for at least 12 months from the dale of signing the financial statements. Based on this support from the landlord, the trustees believe that there are no material uncertainties with regards to the charity's ability to continue, and that it is therefore appropriate to prepare the financial statements on the golng concern basis. Principal risks and uncertainties The main risks and uncertainties identified are health and safety failings and building failures. There is an annual Health and Safety review and an annual risk assessment review conducted by the Operations Manager. The trustees are satisfied that adequate assessments are conducted by senior management to identfy risks, and such risks are reported to the Board. The insurance policy for HGCT is reviewed annually by our insurance broker. The trustees are conscious of cash flow risk. However, this continues lo be mitigated by the rent waiver and ongoing support from the trust's landlord. Page 9
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRATEGIC REPORT Future plans We have a vision of how we would like the fijture to look within Kirklees and the surrounding ¢ommunities. Our vision continues to be that NO child leaves school obese and all young people confidently participate in sport and physical activity, which supports them to lead healthy and active lifestyles. Not only do we provide facilities for play, cheerleading, gymnastics and sport within our premises at The Zone, but we also aim lo offer a successful community outreach programme utilising sports and The Zone as the vehicles for inclusion across all underserved communities in Huddersfield and the bordering regions. To ensure that all current and future visitors to The Zone have equitable access and a positive experience, we are Committed to providing appropriate accommodations and activities tailored to a wide range of physical, sensory. social, and emotional needs. Our objective is to create a welcoming environment that supports children and young people in exploring and understanding their emotions while fostering essential developmental skills, including self-awareness, self-regulation, motor skills, and social skills. In the long term, HGCT seeks to establish itself as a regional leader in communily-based health and education seTvices, with a vision to reach over 10,000 beneficiaries annually and create sustainable, long-lasting social impact by 2030. The twstees are aware that due lo the size of the Huddersfield Giants Community Trust premises, there are a significant amount of overhead costs to cover. A review of how the building is occupiedlutilised will continue to assess whether there is any further scope for sub-letting rooms. Trustees and senior management are always on the lookout for potential new income streams to ensure VR can maintain delivery of the existing programmes and potentially add new ones too. STRUCTURE, GOVERNANCE AND MANAGEMENT Goveming document The charity is controlled by its governlng document, a deed of trust, and constitutes a limited company. limited by guarantee, as defined by the Companies Act 2006. The liability of the members is limited to £10 each. Accumulated funds are not distributed to the members. HGCT remains committed to upholding the highest standards of accountability and transparency. The report ouuines our framework for decision-making, risk management, and compliance with legal requirements. Regular assessments ensure that our governance practices align with the charity's mission and values. ensuring effective stewardship of resources and maintaining trust wth stakeholders. The trustees are treated as dlre¢tors for Companies Act purposes. Recruitment and appointment of new trustees Trustees and members have powers within the Articles of Association to recommend the appointment of new twstees. The trust contlnues to look to recruit trustees from education, sport, the l¢xal authority and other relevant sectors. The skill mix and appropriateness of the board will ¢ontinue to be assessed in 2025 to ensure compliance and value-adding skills and knoedge for the trust. Page 10
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisatlonal structure The trust is a company limited by guarantee which look over the responsibility for running community schemes, which have now been expanded, previously operated by The Huddersfield Town AFC and Huddersfield Giants Rugby League Club. The initial trustees were drawn from the management of those clubs and the Football League national community scheme. At the end of 2016, Huddersfield Town AFC chose lo continue their Community work themselves. Decision making All major decisions are taken by the Irustees. However, day-to-day management is under Ihe control of Chief Executive Officer Lisa Dawin. Our financial controller, Nadine Sharpe. manages all financial accounts in close discussion with the CEO and trustees. Trustees make decisions on the key remuneration of management personnel. Induction and training of new trustees All the original trustees attended an induclion course on their responsibilities, and the new ones have experience in charity work. All govemance is carried out on the first day of joining the trustees, meeting. Key management rernunoratlon There are S people who have senior management positions. The total remuneration was £187,058 (2023.. £101,236) The total amount paid into the CEO'S private pension was £2,880 (2023.. £2,880) Engagement wlth 8uppller8, CU8tom8r8 and othar8 It is important that the trust continues lo build strong and positive relationships th all partners, other organisations, and groups across the region to facilitate our programmes and support strategy. The trust is actively working alongside these partners to ensure we work collaboratively and receive first-hand knowledge of any funding available to support the community. In addition to the close co-operallon with the professional sports club there is regular contact wlth the regional manager of the European Football League Trust, Rugby Football League, departments of Kirklees Council, Sport England, West Yorkshire Sports and the local NHS provider. We are collaborating wth businesses to support our initiatives, enabling us to deliver programmes both in The Zone and throughout the community. Leveraging our team and facilities aligns with and promotes our values and mission. Risk management The truslees have a duty to identify and review the risks to which the charity is exposed and to ensure appropnate controls are in place to provide reasonable assurance against fraud and error. FUNDS HELD AS CUSTODIAN FOR OTHERS There are no funds held on behalf of others. AUDITORS The auditors, Shenward LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. Page11
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Report of the trustees. incorporating a strategic report. approved by order of the board of trustees, as the company directors, on .....1.2.:.&4p¢..:.2o.i¥and signed on the board's behalf by: Jsin h Athwal - Trustee Page 12
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees (who are also the directors of Huddersfield Giants Community Trust Ltd for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently., observe the methods and principles in Ihe Charity SORP., make iudgemenls and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of Ihe charitable company and to enable them to ensLtre that the financial statements comply wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregijlarities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditors are unaware., and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit informati'on and to establish that the auditors are aware of that information. Page13
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HUDDERSFIELD GIANTS COMMUNITY TRUST LTD Opinion We have audited the financial statements of Huddersfield Giants Community Trust Ltd (the 'charilable company,) for the year ended 31 December 2024 which comprise the Statement of Financial Activities. the Statement of Financial Position, the Statement of Cash Flows and notes to the financial ststements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial stalements.. give a true and fair view of the state of the charitable company's affairs as al 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been propedy prepared in accordance Nmth Unlted Kingdom Generalty Accepted Accounting Practice, including Flnancial Reportlng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance with Intematlonal Standards on Auditing (UK) (ISAS {UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial ststements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevanl to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirernents. We believe that the audit evidence we have obtained is sufficient and appropriate to provide basis for our opinion. Conclusions relatlng to golng concern In auditing the financial statements. we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue as a going con¢em for a period of at least e1ve months from vthen the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wth respect to going concern are described in the relevant sections of this report. Other infomiation The trustees are responsible for the other infomialion. The other informalion comprises the information included in the Annual Report. other than the financial statements and our Report ofthe Independent Audrtors thereon. Our opinion on the financial statements does not cover the other information and, excepi to the extent otherwse explicitly stated in our report, we do not express any form of assurance Conclusion Ihereon. In conneclion wilh our audit of the financial statements, our responsibility is lo read the other infomation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knoedge obtsined in the audit or otheiSe appears to be materially misstated. If we identify such material inconsistencies or apparent malerial misslatements, we are required to determine whether this gives rise to material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other infonnation, we are required to report that fact. We have nothing to report in this regard. Page 14
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HUDDERSFIELD GIANTS COMMUNITY TRUST LTD Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken during the audit.. the infomialion given in the Report of the Trustees for the finanrial year for which the financial statements are prepared is consistent wlh the financial statements,, and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on which we arè required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained during the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made.. or we have not received all the information and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 15
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HUDDERSFIELD GIANTS COMMUNITY TRUST LTD Our responsibilities for the audit of th8 financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Audilors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance wth ISAS (UK) will always detect a material misststement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken based on these financial slatements. The extent to which our procedures can detecl irregularities, including fraud is detailed below- However, the primary responsibility for the prevention and detection of fraud rests with both those charged with govemance of the Charity and management. Irregularities, in¢luding fraud, are instances of non-compliance with laws and regulatlons. We design procedures in line with our responsibilities outlined above and on the Financial Reporting Council's website, lo detect material misstatements in respect of irregularities. including fraud. We obtain and update our understandlng of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence Ihal is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compllance with laws and regulations, including fraud, we designed procedures which included.. Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud. Reviewing minutes of meetings of those charged with governance. Assessing the extent of compliance with the laws and regulations consldered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspectlon. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. Perfoming audit work over the risk of management bias and override of controls, including testing of joumal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside Ihe nomal course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherenl limitations of an audit, there is a risk that we will not dele¢t all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulalion. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilrties for the audit of the financial ststements is located on the Financial Reporting Council's website at Mwi.fr¢.org.uklauditorsresponsibilities. This description forms part of our Report ofthe Independent Auditors. Page 16
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HUDDERSFIELD GIANTS COMMUNITY TRUST LTD Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to stale to them in an audilors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or forthe opinions we have formed. Sherad Dewedi (Senior Statutory Auditor) for and on behalf of Shenward LLP Chartered Accountants & Statutory Auditors Summit House Woodland Park Bradford Road Cleckheaton West Yorkshire BD19 6BW Date.. ..IZ.SOatylx>a Page 17
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 839,082 77,644 916,726 323,083 Charftable activities Dance Education Kids play and sports zone Mulli sports Inclusion 236,893 14,658 555,960 60,811 779 236,893 14,658 555,960 60,931 779 144,573 77,105 511,056 88,417 120 Other trading activities Investment income 242,435 91,046 588 333,481 588 302,794 193 Totsl 1,950,618 169,398 2 120,016 1447 221 EXPENDITURE ON Raising funds Raising donations and legacies 282 924 299,624 333,841 282,924 16,700 299,624 333.841 Charitable activities Dance Education Kids play and sports zone Mulli sports Inclusion 303,198 72,778 733,753 147,894 14,141 3,629 306,827 72,778 751,735 159,307 197,775 92.994 719,901 179,062 17,982 11,413 17,773 Total 1554 688 1622 185 1523 573 NET INCOME 395,930 101,901 497,831 (76,352) RECONCILIATION OF FUNDS Total funds broLJght forward 49,382 41,350 90,732 167,084 TOTAL FUNDS CARRIED FORWARD 445 312 143 251 588,563 90,732 The notes form part of these financial statements Page 18
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted fund Notes FIXED ASSETS Tangible assets 14 985,277 5,912 991,189 982,333 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 5,367 74,250 224 407 5,367 79,625 356 371 4,297 93,259 194 729 16 5,375 131964 304,024 137,339 441,363 292,285 CREDITORS Amounts falling due within one year 17 (304,071) {1) (304,072) (303,594) NET CURRENT ASSETS 47) 137 338 137 291 11 309) TOTAL ASSETS LESS CURRENT LIABILITIES 985,230 143,250 1,128,480 971,024 CREDITORS Amounts falling due after more than one year 18 (539,917) (539,917) (880,292) NET ASSETS 143 250 588 563 FUNDS Unrestricted funds.. General fund Restricted funds: Restricted funds 21 445,313 49,382 143 250 TOTAL FUNDS 588 563 The financial sta ements ere approved by the Board of Trustees and authorised for issue on nd were signed on its behalf by.. gh Athwal- rustee The notes fomi part of these financial statements Page 19
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 597 186 46.311 Net cash provided by operating activities 597 186 Cash flows from Investlng activities Purchase of tangible fixed assets Sale of tangible fixed assets (113,432) 914 (400,890) 193 Interest received 588 Net cash used in investing activities 111930) 400 697) Cash Ilows from flnanclng actlvltles New loans in year Loan repayments in year Interest paid Transferred to donations 392.750 (10,0001 (939) (9.745) (946) 312,923 Net cash (used In)Iprovided by financlng activities 323 6141 381 811 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at tha beglnnlng of the reporting perlod 161,642 27,425 167 304 Cash and cash equivalents at the end of the reporting period 356 371 194 729 The notes form part of these financial statements Page 20
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net Incomel(expenditure) for Ihe reporting period {a$ per the Statement of Financial Activities) Adjustments for: Depreciation Charges Investment income Interest paid (Increase)Idecrease in stocks Decrease in debtors (Decreasellincrease in creditors 497,831 (78,352> 103,662 (588) 946 (1,070) 13,634 49,560 <193) 972 4,494 24,558 Net cash provlded by operatlons 597 186 ANALYSIS OF CHANGES IN NET DEBT At 1.1.24 Cash flow At31.12.24 Net cash Cash at bank and in hand 194 729 161642 356 371 194 729 161642 356,371 Debt Debts falling due within 1 year Debts falling due after 1 year {64,090) 880 292 (17,707) 340 375 (81,7971 539 917) 944,382) 322,668 621,714) Total 749 653) 484 310 265 343) The notes form part of these financial statements Page 21
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charrtable company, which is a publlc benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charrties. Statement of Recomrnended Practice applicable to Gharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effeclive 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and Ihe Companie5 Act 2006. The financial statements have been prepared under the historical cost convention. Judgements and key sources of estlmatlon un¢ertalnty The preparation of the financial statements requires management lo make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Details of these judgements can be found in the accounting policies. Incom All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. Income is deferred where delivery of services relates to future periods. Income from the sale of goods is recognised at the point of sale to the consumer. Revenue grant funding (including government grant funding) is accounted for upon entitlement to the income and is deferred when lime restrictions apply to related expenditure. All income is stated after trade discounts, other sales taxes, and net of VAT. Donated services and facilities are recognised when the charity has control over the item, any conditions with the associated item has been mel, and the receipt of economic benefit from the use of the item is probable and can be measured reliably. They are included within income at the estimated value of the gift to the charity when received. This is based on the amount the charity would have been prepared to pay for these services and facilities had it been required to purchase them. A corresponding enty is entered in the appropriate heading for the same amount. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits wll be required in settlement and the amount of the obligation can be measured reliably. Expendilure is accounted for on an accruals basis and has been classified under specific headings that aggregate all cost related to the category. Where costs cannot be direclly attributed to specific headings they have been allocated to activities on a basis consistent with the use of resources. Allocation and apportionment of costs For accounting purposes, expendrture is allocaled as follows-. other trading activities All expenditure which is in relation to the operation of The Zone's Cafe, and other irading costs Charitable activities - All direct charitable expenditure is in relation to the operation of the activities of the charity. Costs are allocated to the activity where the resource has been used. Where they relate to multiple activities, they have been allocated based on the use of Ihe resource. Support costs includes central functions and governance. They have been allocated to activity cost categories on a basis consistent with the use of resources. Page 22 continued...
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES - continued Tanglble flxed assets Depreciats'on is provided at the following annual rates to write off each asset over its estimated useful life. Leasehold improvements - 1 Ooh on cost and remaining life of the lease Sports and activity equipment- 200/0, 15%, and 100h on cost Fittings and fixtures . 200h on cost Computer equipment - 20°/o on cost Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxatlon The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the twstees. Restricted funds can only be used for specific restricted purposes within the objects of the charily. Reslrl¢licns arise when specified by the donor or vthen funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Funds may be transferred from the unrestrtcied fund to the restrlcted fund at the dlscretlon of the trustees. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to whlch they relate. The assets of the scheme are held separately to ihose of the charity. Restrlctad fund8 Restricted funds Include monies received for the following.. RFL- To deliver rugby sessions, work with ambassador clubs, and youth development West Yorkshire Combined Authority - To deliver early years aGlivities Kirklees Council- For summerthinter HAF CoffeeSafe- For supporting delivery in the Zone for children in disadvantaged areas. One Community Foundation- For a SafePlace in the Zone. Ronan Costello- Money raised towards Giants in the community events Kirklees Short Breaks - To provide short breaks for those in disadvantaged areas. Monies received from the pitch hire at the Laund Hill facility are restricted funds by virtue of being used to repay the loan from Jennifer Davy Number 2 (Childrens) Settlement 1997. Page 23 continued...
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 DONATIONS AND LEGACIES 2024 2023 Gifts Donations Donated services & facilits'es Other Grants 478,880 362,500 75,343 4,147 302,450 16,486 916 726 323 083 Donated services and facilities - The charity's landlord waived the rent of £300,000 (2023.. £250,000). The peppercorn rent in relation to the lease of the Laund Hill sile of £62,500 (2023-. £50,000) was charged below its market value and vlas also waived. The corresponding costs for both donations in kind have been included in rent costs. Donations- Jennifer Davy Number 2 (Childrens) Settlement 1997 donated £455,893 This consists of £312.923 transferred from the monies the charity owed to Jennifer Davy Number 2 (Childrens) Settlement 1997 - details of which are in the loan notes - and the remaining £142.970 was donated this year OTHER TRADING ACTIVITIES 2024 2023 Fundraising events Office rental income Sponsorships Cafe other income Pitch Hire 14,674 46,307 16,682 164,821 145 90,852 39,345 39,084 32,815 175,807 15.743 333 481 302 794 Laund Hill pitch hire is dassed a trading activity as this is to be used to repay Jennifer Davy Number 2 (Childrens) Settlemenl 1997's loan. Fundraising income consists of the sale of goods and donations, whilst cafe income is the sale of goods. All other amounts ststed above are in relation to income from rendering of services. Page 24 continued..
HUODERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 INVESTMENT INCOME 2024 2023 Interest receivable 588 193 INCOME FROM CHARITABLE ACTIVITIES Kids play and sports zone Dance Education Education SeNice Level Agreement Coaching Kit and competitions Cheerleading Pitch hire Kids play Paty income 14,658 27,354 76,070 133,469 15,575 234,175 156,976 149 234 236 893 14,658 555 960 2024 Total activities 2023 Tolal activities Multi sports Inclusion Education Senjice Level Agreement Coaching Krt and competitions Cheerleading Pitch hire Kids play Party income 14,658 104,560 76.070 133,469 234,254 156,976 149,234 54.763 122,641 50,503 94,070 223,403 142,067 133 704 60,931 700 79 779 869,221 821.151 Education Loughborough College The contract concluded end of June 2024 due to the financial challenges and limited resources faced by the partner. Included within kit and compelitions Income Is £28,232 (2023.. £25,362) which is in relation to the sale of goods. The paty income is the combined total of services and the sale of goods. Page 25 continued...
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS- conlinued FOR THE YEAR ENDED 31 DECEMBER 2024 RAISING DONATIONS AND LEGACIES 2024 2023 Travel and subsistence Women and GITIS Café Staff cosls Laund Hill Other fvndraising costs Depreciation Support costs 2,255 44,257 78,017 70,002 92,085 50,007 15.950 12,166 25,709 101,435 88,187 299.624 333 841 CHARITABLE ACTIVITIES COSTS Support costs (see note 8) Direct Costs Totals Dance Education Kids play and sports zone Multi sports Inclusion 174,673 3,383 210,164 54,160 18,638 132,154 69,395 541,571 105.147 306,827 72,778 751,735 159,307 461,018 861 543 1322 561 SUPPORT COSTS Governance costs Management Other Other 2 Totals Raising donations and legacies Dance Education Kids play and sports zone Multi sports Inclusion 462 945 16 1,980 517 89 34,331 93,017 68,730 459,584 83,744 9.597 18.602 38,192 649 62,507 20,886 3,590 53,395 132,154 69,395 541,571 105.147 13,276 17,500 749 003 144 426 914 938 Page 26 continued...
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 NET INCOMEI(EXPENDITURE) Net incomel(expenditure} is stated after chargingl(¢rediting)'. 2024 2023 Depreciation- owned assets 103,662 10. AUDITORS. REMUNERATION 2024 202J Fees payable to the charity's audllors for the audlt of the charity's financial statements Auditors, remuneration for non-audit work 7,000 10,500 30,000 6.318 11. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees, expens8S There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. 12. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 445,138 26,404 446,786 30,558 480 563 488 463 The average monthly number of employees during the year was as follows.. 2024 10 20 2023 Dance Kids play, cafe and sports Multi sports Adminislralion Education Inclusion 20 41 37 No employees received emoluments exceeding £60,000. Page 27 continued..
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 310ECEMBER 2024 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 304,347 18,736 323,083 Charitable activities Dance Education Kids play and sports zone Multi sports 144,573 77.105 510,442 88,417 144.573 77,105 511,056 88.417 614 Other trading activities Investment income 295,051 7,743 193 302.794 193 Total 1,419.935 1,447,221 EXPENDITURE ON Raising funds Raising donations and legacies 318,501 333 841 318,501 15,340 333,841 Charitable activities Dance Education Kids play and sports zone Multi sports 197,775 92,994 719,901 170,795 197,775 92,994 719,901 179 062 Total 1499 966 23,607 1,523,573 NET INCOME (80,031) 3,679 (76,352) RECONCILIATION OF FUNDS Total funds brought fOard 129,413 37,671 167,084 TOTAL FUNDS CARRIED FORWARD Page 28 continued...
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 14. TANGIBLE FIXED ASSETS Fixtures and fittings Long leasehold Plant and machinery Computer equipment Totals COST At 1 January 2024 Additions Disposals 964,655 68,100 500,433 1,260 73 702) 115,906 43,656 17 169) 56,950 416 41 9921 1,637,944 113,432 132 8631 At 31 December 2024 1032 75J 427 991 142 393 1,618 513 DEPRECIATION At 1 January 2024 Charge for year Eliminaled on disposal 26,392 83,119 459,839 11,260 72 788) 115,661 7,698 17 169) 53,719 1,585 41992) 655,611 103,662 1319491 At 31 December 2024 109511 398311 106 190 627 324 NET BOOK VALUE At 31 December 2024 923 244 29 680 991,189 At 31 December 2023 938 263 245 982 333 15. STOCKS 2024 2023 Stocks 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Amounts recoverable on contract Other debtors Prepayments and accrued income 35,294 1,352 6,250 35,261 6,565 79,625 93,259 Page 29 continued...
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other loans (see note 18) Trade creditors Social security and other taxes VAT Other creditors Deferred income Accrued expenses 81,797 29,337 9.122 16,363 1.872 110,864 54,717 64,090 82.980 8,480 18,220 955 55,138 304 072 303 594 Oeferred income movement: Balance 1 January 2024 £68,035.00 Released from previous years -£57,077.00 Deferred in the current year £99,905.00 Balance 310ecember 2024 £110.863.00 18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loans (see note 18) Other loans (see note 18) 21,714 518.203 31,459 848,833 539 917 880 292 19. LOANS An analysis of the maturity of loans is given below.. 2024 2023 Amounts falling due within one year on demand.. Other loans 64 090 Amounts falling between one and years.. Bank loans- 1-2 years Other loans- 1-2 years 21,714 518.203 31,459 848,833 539.917 880,292 The concessionary loan above of £600,000 was received from Jennifer Davy Number 2 (Childrens) Settlement 1997, which was for the restricted use on the development of the all wealher pitch at Laund Hill. The loan is unsecured and is repayable from the Laund Hill pitch rental. less 17.5* service charges with a final repayment date of October 2043- whichever is earliest Page 30 continued...
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 DECEMBER 2024 19. LOANS - continued There Is no interest currently charged on the loan. However, there is an option for interest to be charged at 20/0 above the base rate at the discretion of the lender. The lender must give 6 months notice before charging interest. and the earliest such notice could be given is March 2025. The loan agreement was originally for a facility of £1,200,000. However, the charity and Jennifer Davy Number 2 (Childrens) Settlement 1997 held discussions during the year, and it was agreed that the loan would be capped lo £600,000, with the rem8ining monies being a donation. Therefore, £312.923 has been 'transferred' from the loan balance at the prior year end lo donations. 20. LEASING AGREEMENTS Mlnimum lease payments under non-cancellable operatlng leases fall due as follows.. 2024 2023 Within one year Between one and five years 8.649 12,892 12,301 11,009 25,193 The charity has a peppercom lease for the Laund Hill site. As part of the terms and conditions of the lease, the landlord has a right to 32 hours of priority bookings per week at an agreed discount to the commercial rate. There is no obligation for the landlord to use the priority booking hours, so the amounts receivable under the lease remains variable. Lessor There is a peppercom lease in place for the Laund Hill faclllty. As part of the terms and conditions of the lease, (a) the tenant has a right to 22 hours of priority bookings per week at an agreed discount to the commercial rale and (b) manages the property for which a service charge is in place. There is no obligation for the lenant to use the priority booking hours, so the amounts receivable under the lease remains variable. Page 31 continued...
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 21. MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestricted fund8 General fund 49,382 395.931 445,313 R8Strlcted funds Restricted funds 41,350 101.900 143,250 TOTAL FUNDS 90,732 497.831 588 563 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 1,950,618 (1,554,687) 395,931 Restrlctèd funds Reslri¢led funds 169,398 (67,498) 101,900 TOTAL FUNDS 2 120 016 1,622 185) 497 831 Comparatives for movement In funds Net movement in funds Al 31.12.23 Al 1.1.23 Unrestricted funds General fund 129,413 (80,031) 49,382 Restricled funds Reslricled funds 37.671 3,679 41,350 TOTAL FUNDS 167.084 76,3521 90.732 Page 32 continued...
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 21. MOVEMENT IN FUNDS- contlnuad Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 1,419,935 (1,499,966) (80,031) Restricted funds Reslricled funds 27,286 (23,607) 3,679 TOTAL FUNDS 76,352) A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.12.24 At 1.1.23 Unrestricted funds General fund 129,413 315.900 445.313 Restricted fund8 Restricted funds 37,671 105,579 143,250 TOTAL FUNDS 167 084 421479 588 563 A current year 12 months and prior year 12 months comblned net movement in fvnds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted fund5 General fijnd 3,370.553 (3,054,653) 315,900 Restricted funds Restricted funds 196,684 (91.105) 105,579 TOTAL FUNDS 3,567.237 3,145,758) 421,479 Page 33 continued...
HUDDERSFIELD GIANTS COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 22. RELATED PARTY DISCLOSURES Huddersfield Giants Limited: Income Advertising £8,340 {2023.' £6,000), Laund Hill pitch hire booked under landlord's priority discounted terms detailed below £90,852 (2023.. £7,743), donation £350. Expenses Minibus hire £3,000, sundries £1,527 {2023.' £1,582). commission re advertising £367, Sponsorship of awards £75 Balance owing from Huddersfield Giants Limited £8,750 (2023.. £7,743) HR With Confidence Ltd.. Donation toward5 fundraising activlties £35 (2023: £20), Sponsorship £115 (2023.. £100) Social Progress Limited.. Donation in kind - Marketing training £NIL (2023.. 450) KEJ LLP.. Donation in kind - Rent £300.000 (2023.. £250,000) Jennifer Davy Number 2 (Childrens) Settlement 1997.. Donation in kind Rent £62,500 (2023.. £50,000), donation £142,970. concessionary loan £NIL (2023: £392,782) As part of the terms and conditions of the lease, the landlord has a righl to 32 hours of priority bookings per week at an agreed discount to the commerclal rate Page 34