REGISTERED CHARITY NUMBER: 1145372
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 5 April 2024
for
The Hurstcote Charitable Foundation
A J Bennewith
FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA
Upper Ground Floor
18 Farnham Road
Guildford
Surrey
GU1 4XA
The Hurstcote Charitable Foundation
Contents of the Financial Statements
for the Year Ended 5 April 2024
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Report of the Trustees |
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4 |
Independent Examiner's Report |
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5 |
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Statement of Financial Activities |
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6 |
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Balance Sheet |
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7 |
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Notes to the Financial Statements |
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13 |
The Hurstcote Charitable Foundation
Report of the Trustees for the Year Ended 5 April 2024
The trusteespresenttheir reportwith the financialstatementsof the charityfor the year ended 5 April2024. The trustees
have adoptedthe provisionsof Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicable to
charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and Republic
of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The HurstcoteCharitableFoundation(workingname: ForgingFutures)was createdin 2012 by Tom andOsha Hufton with
the objectsto: Benefit such registeredcharitiesor such charitablepurposesand in such proportionsand such manner and
subject to such terms and conditions as the trustees in their absolute discretion think fit from time to time.
Thecharityhasevolvedoverthepastfewyearsandnowdirectlyfocusesitscharitableactivitiesontraining and
supporting young people and adults, particularly those with learning disabilities or who are neurodivergent.
Ourcharitableprogrammesprovidehands-ontraining,qualifications,andsupportedworkexperience opportunities,
empowering individuals to develop the skills and confidence needed for meaningful paid employment.
Public benefit
ThetrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommission'sgeneralguidance on
public benefit when reviewing the Charity's aims and objectives and in planning future activities.
Page 1
The Hurstcote Charitable Foundation
Report of the Trustees
for the Year Ended 5 April 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
ForgingFutures,workingnameoftheHurstcoteCharitableFoundation,hascontinuedtogrowanddevelop its
programmesthroughout2023-2024,remainingdedicatedto enhancingthe lives of youngpeopleand adultswith learning
disabilitiesandwhoareneurodivergent.Wefocusonprovidingbespoketrainingandemployment opportunities,
particularlywithinthecoffeeandhospitalityindustry,andhaveexpandedourpartnershipstonowinclude4 local
specialist schools.
In 2023-2024, our key activities included:
-
Cookie Projects: We have expanded our Cookie Projects offering even more learners the chance to gain practical, indus try-relevant skills. These initiatives continue to play a vital role in enhancing confidence, employability, p roviding participants with transferable skills in coffee, hospitality and customer service.
-
Work Experience Opportunities: This year we were delighted to create an increasing number of bespoke work experience placements. These p lacements have allowed more individuals to gain valuable hands-on experience in our partner coffee shop - h elping them build the skills and confidence necessary to feel confident to access employment.
-
Bespoke Barista Skills Programme: We have now expanded and developed our courses to include a qualification. The curriculum ha s been written, and we look forward to welcoming our first cohort progressing from our cookie project into our qualification programme in April 2024.
Our continuedgrowth is a testament to the commitmentof our team, partners,and supporterswho help us create a more
inclusive and equal society.
Allofourcharitableactivities,carriedoutinanurturingandsupportiveenvironment,arecentraltoourmission and
remain aligned with the foundation's charitable objectives.
WeareconfidentthattheHurstcoteCharitableFoundationisfulfillingits'charitablepurposesandmeetingthe public
benefit requirements by enhancing the employability of individuals who might otherwise face barriers to finding work.
Impact
SincepilotingourfirstprogrammeinOctober2022ForgingFuturesisdelightedtohavetrained,supportedand worked
together with 32 young people/adults.
Cookie Project Impact
TheCookieProjectraised£1,224throughthesaleofcookies,whichwasdonatedtolocalschoolstofund impactful
projectssuchas schooltripsandlife skillsresources.Studentsinvolvedin the projectdevelopedessentialworkplace skills
andgainedconfidenceintheirabilitytocontributetoateam.Schoolssharedthattheprogrammeprovideda stepping
stonefortheirlearnersontotheirnewcollegeplacements.Studentsrecognisedtheycouldbesuccessfulin an
environment other than their specialist school and could learn from others.
Work Experience Programme
Oursupportedworkexperienceprogrammeprovided4supportedplacementsatourpartnercoffeeshopForgeon the
Green in 2023-2024.The placementsofferedincludeda one day a week year-longplacementfor one learner,2 x 10 week
(2hours a week) placements and 1 x 10 day placement.
FINANCIAL REVIEW
Financial position
The HurstcoteCharitableFoundation(workingname: ForgingFutures)generateda totalincomeof £41,678in 2023-2024,
which was raised through donations and fundraising activities.
Totalexpenditurefortheyearamountedto£15,929coveringprogrammecosts,grants,operationalexpenses, marketing
material, fundraising activities and resource development.
Page 2
The Hurstcote Charitable Foundation
Report of the Trustees
for the Year Ended 5 April 2024
FINANCIAL REVIEW
Investment policy and objectives
Under the trust deed the charity has the power to make any investments which the trustees see fit.
Reserves policy
TheTrusteeshaveadoptedareservespolicytoensurethatthecharitymaintainssufficientfinancialstabilityto cover
unforeseen expenses and future programme costs.
FUTURE OPPORTUNITIES
-
Over the next few months we will work in collaboration with Well Grounded to train and support 5 students to successfully achieve their SCA Barista Foundation Certificates, an internationally recognised qualification
-
* equivalent to a level 2 qualification.
-
In September 2024, Forging Futures - in partnership with Forge on the Green and St Joseph's Specialist Trust
-
- will lead on delivering our first supported Internship.
-
From January 2025, the building owned and attached to Forge on the Green will relinquish its lease and the
-
plan is to transform it into the Forging Futures training centre
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
TheHurstcoteFoundationisconstitutedunderatrustdeeddated3June2011andisaregisteredcharity, number
1145372.
Recruitment and appointment of new trustees
Trusteesareappointedinaccordancewiththecharity'sgoverningdocuments.Newtrusteesarerecruitedbasedon their
skills, experience, and passion for the charity's mission.
Organisational structure
Our Governance Structure
ThecharityisgovernedbyaBoardofTrusteeswhoareresponsibleforthestrategicdirection,policy,and financial
oversightofthecharity.TheBoardmeetsregularlytoreviewthecharity'sactivitiesandensurethatitsobjectives are
being met.
Operational Management
Whilethecharityis overseenbyitsBoardof Trustees,theday-to-dayrunningof ourprogrammesandactivitiesis carried
outbyonededicatedindividualwhoisnotatrustee.Thispersonleadsoneverythingfromplanningand delivering
programmes to working directly with partners and participants.
Thetrusteescontinuetoprovideguidanceandoversight,meetingregularlytoensurethecharitystaysontrack, remains
financially responsible, and continues to meet its charitable aims.
Risk management
Thetrusteeshaveconsideredthemajorriskstowhichthecharityisexposed,particularlythoserelatedtoits operations
and finances, and have implemented systems to monitor and control these risks.
Thank You
WewouldliketoextendourheartfeltthankstoeveryonewhohassupportedForgingFuturesoverthepastyear. Your
continuedsupportandencouragementmakeeverythingwedopossible.Together,we'rebuildingamoreinclusive and
equal society.
Page 3
The Hurstcote Charitable Foundation
Report of the Trustees for the Year Ended 5 April 2024
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1145372
Principal address
2 Greengate
Cardale Park
Harrogate
North Yorkshire
HG3 1GY
Trustees
T E Hufton
Mrs O A Hufton
R Gosman (appointed 2.8.23)
M Majed (appointed 2.8.23)
Independent Examiner
A J Bennewith
FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA
Upper Ground Floor
18 Farnham Road
Guildford
Surrey
GU1 4XA
COMMENCEMENT OF ACTIVITIES
The date of commencement of activities was 3 June 2011.
ADVISERS Investment Managers
Cardale Asset Management Ltd
2 Greengate
Cardale Park
Harrogate
HG3 1GY
Solicitors
Finers Stephens Innocent LLP
179 Great Portland Street
London
W1W 5LS
Approved by order of the board of trustees on 23 May 2025 and signed on its behalf by:
T E Hufton - Trustee
Page 4
Independent Examiner's Report to the Trustees of
The Hurstcote Charitable Foundation
Independent examiner's report to the trustees of The Hurstcote Charitable Foundation
I reportto the charitytrusteeson my examinationof the accountsof The HurstcoteCharitableFoundation(theTrust) for
the year ended 5 April 2024.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
I reportin respectof my examinationof the Trust'saccountscarriedoutunderSection145 of the Act andin carrying out
myexaminationI havefollowedallapplicableDirectionsgivenbytheCharityCommissionunderSection145(5)(b)of the
Act.
Independent examiner's statement
I havecompletedmyexamination.I confirmthatnomaterialmattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concernsand have come acrossno othermattersin connectionwith the examinationto whichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
.......................................................
A J Bennewith
FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA
Upper Ground Floor
18 Farnham Road
Guildford
Surrey
GU1 4XA
27 May 2025
Page 5
The Hurstcote Charitable Foundation
Statement of Financial Activities
for the Year Ended 5 April 2024
5.4.24
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
12,397
Other trading activities
2
30,350
Investment income
3
155
Total
42,902
EXPENDITURE ON
Raising funds
5,212
Charitable activities
Charitable activities
11,941
Total
17,153
NET INCOME/(EXPENDITURE)
25,749
RECONCILIATION OF FUNDS
Total funds brought forward
205,233
TOTAL FUNDS CARRIED FORWARD
230,982 |
5.4.23
Total
funds
£
2,000
-
-
2,000
217
1,944
2,161
(161)
205,394
205,233 |
|
|
The notes form part of these financial statements
Page 6
The Hurstcote Charitable Foundation
Balance Sheet
5 April 2024
5.4.24
Unrestricted
fund
Notes
£
FIXED ASSETS
Investment property
8
193,000
CURRENT ASSETS
Debtors
9
2,036
Cash at bank
37,146
39,182
CREDITORS
Amounts falling due within one year
10
(1,200)
NET CURRENT ASSETS
37,982
TOTAL ASSETS LESS CURRENT LIABILITIES
230,982
NET ASSETS
230,982
FUNDS
11
Unrestricted funds
230,982
TOTAL FUNDS
230,982 |
5.4.23
Total
funds
£
193,000
731
14,452
15,183
(2,950)
12,233
205,233
205,233
205,233 |
|
205,233 |
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon23May2025and were
signed on its behalf by:
T E Hufton - Trustee
The notes form part of these financial statements
Page 7
The Hurstcote Charitable Foundation
Notes to the Financial Statements for the Year Ended 5 April 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewith the CharitiesSORP (FRS 102) 'Accountingand Reportingby Charities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicablein the UK and Republicof Ireland(FRS 102) (effective 1 January2019)', FinancialReportingStandard 102
'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCharitiesAct2011. The
financial statements have been prepared under the historical cost convention.
Income
All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
the amountof the obligationcanbe measuredreliably.Expenditureis accountedforon an accrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasa commitment
but not accrued as expenditure.
Investment property
Investmentpropertyisshownatmostrecentvaluation.Anyaggregatesurplusordeficitarisingfromchanges in
fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybe usedforparticularrestrictedpurposeswithinthe objectsof the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
The Hurstcote Charitable Foundation
Notes to the Financial Statements - continued
for the Year Ended 5 April 2024
2. OTHER TRADING ACTIVITIES
Fundraising events
3.
INVESTMENT INCOME
Investment income |
5.4.24
£
30,350
5.4.24
£
155 |
5.4.23
£
- |
|
|
5.4.23
£
- |
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended5April2024norfortheyear ended
5 April 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
Unrestricted |
|
fund |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
Donations and legacies |
2,000 |
EXPENDITURE ON |
|
Raising funds |
217 |
Charitable activities |
|
Charitable activities |
1,944 |
Total |
2,161 |
NET INCOME/(EXPENDITURE) |
(161) |
RECONCILIATION OF FUNDS |
|
Total funds brought forward |
205,394 |
TOTAL FUNDS CARRIED FORWARD |
205,233 |
continued...
Page 9
The Hurstcote Charitable Foundation
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
6. NET MOVEMENT IN FUNDS
|
2024 |
2023 |
|
£ |
£ |
The net movement in funds is stated after charging: |
|
|
Independent Examiner's remuneration |
1,200 |
1,450 |
|
|
|
7. DONATIONS RECEIVED AND PAID
Incomeincludes£1,224donatedfromthesaleofcookiesmadeaspartoftheCookieProject.Thewholeof this
amount was then donated during the year to local schools to fund positive impact projects
8. INVESTMENT PROPERTY
FAIR VALUE
At 6 April 2023
and 5 April 2024
NET BOOK VALUE
At 5 April 2024
At 5 April 2023 |
£
193,000 |
|
193,000 |
|
193,000 |
Theinvestmentpropertyisstatedatcost,whichthetrusteesconsidertothefairvalue.Thefigureof £193,000
representsa 40.6% share of the Old Forge,Guildford,the remaining59.4% beingjointlyownedby Mr T E and Mrs
O A Hufton, who are both trustees.
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
5.4.24 |
5.4.23 |
|
£ |
£ |
Other debtors |
731 |
731 |
Prepayments and accrued income |
1,305 |
- |
|
2,036 |
731 |
continued...
Page 10
The Hurstcote Charitable Foundation
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
11.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
5.4.24
5.4.23
£
£
1,200
2,950
Net
movement
At
At 6.4.23
in funds
5.4.24
£
£
£
205,233
25,749
230,982
205,233
25,749
230,982
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
42,902
(17,153)
25,749
42,902
(17,153)
25,749
Net
movement
At
At 6.4.22
in funds
5.4.23
£
£
£
205,394
(161)
205,233
205,394
(161)
205,233 |
|
|
continued...
Page 11
The Hurstcote Charitable Foundation
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
2,000 |
(2,161) |
(161) |
TOTAL FUNDS |
2,000 |
(2,161) |
(161) |
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
At 6.4.22
in funds
£
£
205,394
25,588
205,394
25,588 |
At
5.4.24
£
230,982 |
|
|
230,982 |
A currentyear12 monthsandprioryear12 monthscombinednetmovementinfunds,includedintheabove are
as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
44,902 |
(19,314) |
25,588 |
TOTAL FUNDS |
44,902 |
(19,314) |
25,588 |
continued...
Page 12
The Hurstcote Charitable Foundation
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
12. RELATED PARTY DISCLOSURES
During the year the trustees made aggregate donations of £6,500 to the charity.
In addition,donationsof £1,224were receivedfrom,anda grantof £8,996was madeto,Forgeon the Green Ltd.
Two of the trustees, Thomas and Osha Hufton, are the only directors and shareholders of this company.
Page 13