``` 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 ``` |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`4`| |**`Independent Examiner's Report`**||`5`|| |**`Statement of Financial Activities`**||`6`|| |**`Balance Sheet`**||`7`|| |**`Notes to the Financial Statements`**|`8`|`to`|`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 ```