REGISTERED COMPANY NUMBER: 07690182 (England and Wales) REGISTERED CHARITY NUMBER: 1146501 Report of the Trustees and Financial Statements for the Year Ended 31 August 2024 for Huddersfield Town Foundation Harris Lacey and Swain Chartered Accountants and Statutory Auditors Suite I The Riverside Building Hessle East Yorkshire HU13 ODZ
Huddersfield Town Foundation Contents of the Financial Statements for the Year Ended 31 August 2024 Page Report ofthe Trustees I to 14 Report of the Independent Auditors 15 to 18 Statement of Fiiiancial Activities Balance Sheet 20 Cash Flow Statement Notes to the Cash Flow Statement 22 Notes to the Financial Statements 23 to 34
Huddersfield Town Foundation Report of the Trustees for the Year Ended 31 August 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the fmancial statements of the charity for the year ended 31 August 2024. The trustee5 have adopted the provisions of Accounting and Reportintr by CEiarities: Staiement of Recommended Practice applicablc to charities preparing their accounts in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). The Trustees have had due regard to the guidance published by the Charities Commission on public benefit. The Report of the Trustees also fornis part of the Dire¢tors' Report. Page L
R¢port of the Trustees for the year ended 31 August 2024 Overview During the year, the Foundation continued to deliver its StrateoJ. The mission. vision, and values are fully operational across our work and continually shared with new stakeholders. Following Ihe change of ownership of Hudder5field Town Football Club, the Foundation continues to explore opportunities to work with the Club to maxirnise the benefit for the Foundatioj) of being the Charity of choice for the Club and providing leverage of the Foundations Community programmes lo crea* new opportunities for the Club. The cost-of-living crisis affecting Kirkle¢5 and the wider country ha5 had a profound impact on the Foundation. At a time that more participants than ever are reaching out lo the Foundation for support, our fundraising activities have been impacted. The Foundation completed its 3 yearly Premier Leatsue Capability Code of Practice ('CCOP') audit in June 2022 which focuses on organisational governance and cornpliance acros5 15 area5 of opernlional practice. The Premier Leaoue Charitable Fund ('PLCF') review and ehallenge thc self-review completed by all Club Community Organisations ('CCOs'). After dialogue and the opportunity to submit suppl¢m¢ntal infonnation to support the self-review. the Foundation wa5 delighted to be graded 'Exemplary' following review and validation of our submission. An annual review of CCOP compliance was undcrtaken and as at July 2024. the 'exemplary' trrading remains. Twice a year, the Foundation is required to submit delivery reports to the Premier League in re(yard lo ils funded programmes, namely PL Primary Star5, PL Inspires, PL Kicks and Health and Children in Care. At the end of th¢ 2023124 delivery year. the Foundation received 'Good' or 'EKemplary' adings from the Premier Le&¢yu¢ for all reports submitted, a fantasi1¢ achievement and an endorsement of the work our staff undertak¢. The Foundation remains strongly commitled to tackling inequalities across Kirklees. Str#tegy The Foundation launched its cuNenl Str¢ltegy in January 2022 establishing a new mission, vision and values. The Foundation's mission is to.. Tackle the consequences of inequality by working io provide posltive opporliihilies andsupporf lo ihe cominunity of Kirklees. This operac¢s alongside a vision to-. Creale Ifi elong opporluniliesforpeople in Kirklees iofeel 5afE, kealihy and included as parl ofa coiniiiunity. The values, behaviours arnd attitudes of the staff who work for the Foundation are reflect¢d and summarised by being.. Collaborative Open and brave Imaginative and inspiring Consistent and determined Caring and respect1 A Theory of Change for the Foundation was completed in 2023 to sit alongside and support the Strate. Thi$ allows the Foundation to clearly articulate both internally and extemally the oulcome3 and outputs it me&8ures on each of the programmes it delivers and the rype of change it ¢xpecls to see within the comrnunity. The impact that Clubs and Club Community Organisations have in the community is significant and unparalleled. The Foundation is in a unique position to use the power of the football club's badge lo reach groups that many others fail to a¢h. The Foundation is committed to making an impact. We monitor and evaluate our projects to help b¢tter serve our community. We want to understand if we are achieving our goals. and that we are making a difference to community of Kirkl¢¢s. Page 2
Yearly, the Foundation.. Delivers over 10,000 hours of annual community aclivity Engages 2,500 people in our delivery Produces £5M of annual social value through our work in the community We look to where we believe we can make the most impact Tn Kirklees. At Huddersfield Town Foundation. all of our protrrammes and projects aim to tackle at least one of our four key impact areas.. Learnino & Education Health & Healthy Behaviours Safe Spaces & Places Movement & Activtty These are all linked and our projects do not sit within one alone. Instead, we aim to create programmes that make a positive impact across all four. recognising how one can lead to another and that they arc all ¢onnected. Together with our mission and vision, these areas of impact shape our strategic objectiVCS. Tlie impact of Élle Leffrnlng and Educailon progranimes saw ticlilevements includiiig.. The provision of dedicated Town Foundation employee5 to work in local primary and secondary schools delivertng a range of interventions including literacy. numeracy, PSHE. PE and mentoring. 1.401F children yearly benefitints from activities which In¢ase physical activily and develop important lifc skills both in and out of the classroom. 500+ young people yearly receiving mentoring support to improve their confidence and resilience. Over 2.5 million br¢akfast5 served before th¢ l¢arnTng day at our Early Kiek Off Breakfast Clubs since 2012. 19 students ¢ornpleting the relevant study year on their Foundation Degree Programme supported by the Foulldation and University of South Wales. Six students graduated in Summer 2024 from the Bsc in Sports Coaching. Created employment Opportuniti for Foundation Degree programme students with the organisation recruiting two full time roles in Summer 2024, and students joining the Gasual pool of staff working for the Foundation. act: ssto Sam, along with other Year 8 stud¢nts, was put forward by Cwtle Hall School to attend the Prerni¢T League Inspire5 programme in the 2023-24 academic year. Ea¢h student had differ¢nl rcasons for the need for inlerveniion. in Sam's case this was mainly for b¢haviour. Sam was regularly getting detentions for being disruptive and challenging in and outsid of classroom environments. during social timcs. and also for not bcing prepar¢d for lessons. The Foundatiort delivered a group mentoring programmc in school. working on life skills such as resilience. communication. rcspccL and b¢h&viour rnodificalion. It challenged the whol¢ group to think about th¢ ctJns4uence$ OF their action5 and encouraged them to mak¢ better choices. Sam beeame a real leader within this group ovcr thc p¢riod working with th¢ Foundation. this led lo th¢ development of a project called "U Can Talk'- This idea was creat¢d by Sam and ihe rest of the group with the idea to provide p¢¢r 5UPPQrt lo other SdentS wiihin the school. The int¢rYention encouraged pupils to talk about their mental h¢Jlth and provided more access to Safeguarding leads, Heads of Year and the Huddersfi¢ld Town Foundation5 delivery staff for mentoring support. Giving Sam thi5 ownership and pride in a proje¢t gav¢ him 50meihing to aim toivards and through fostering positive relationship5 Wlth sch(Trol stsff during th¢ implementati(Jn of the projecL alongside tracking dai& on the school system it was cl¢ar Sam's positive behaviours improved. We saw a visible improvement in Sam's confidence and communication skills. h¢ delivered a55embly ialks io both Years 7 and 8 regarding the projecL standing in front of around 170-180 students per year group. "When I first Started in year 8, 1 wasn't having a good tim¢, gctting detention after detention which endcd up stressing my mum out. Me and the boys have come a long way with the support of HuddcTsfi¢ld Toivn Foundation. from going to the John Smiths Stadium to WcTnbl¢y, so I would lik¢ to say ihank >ou Jonny IHudder5field Town Foundation Projcct Worker), me and the boys can all agree you hAve helped us all.'- Sam Wadsworth - Year 8 student al C&stle Hall Academy Page 3
I cannot praise Jonny {Fluddersfield Town Foundaiion Project Workcrl enough for th¢ work 11¢ lias doiiL Wltli my son, S¥m. Fle is truly an inbpiration and has b¢¢ii an amazing supporl to hitn and the group ot lads he h&$ bcin ivorking with. Sarn rcally SUgglIng, and this was greatly affeLting his behaviour in school. It truly has madc a ma55ive diff¢rcnce and Sam is lik¢ a differ¢nt lad now, the irnpact has bcen uma£ing and &s 8 parent I f¢el ¢xtr¢m¢ly grateful to the teacheTS and Jonny for all of their 5UPPOrt and Lv¢rything they hav< done. Sam's confidence has improved. as well as hi5 bchaviour and outl¢)ok on ihings. l Can'l thank you all enough. long Inay it continue. Louisc Ashton- Sam's Mum Tlie impacl of ihe H¢olili and Heuliliy Beliuvioiirs prograninies saw acliieveineiilx iiicliiding." 200+ adults taking pan weekly in free healih and wellbeing activities. Started an Adult ¢v¢ning session for those with disabilities and leaming disabilities (Terriers Ability). Started a weekly Wom¢n's Walking Fooiball session. further diversifying our core ofter. Engaged with 158 peopl¢ with disabilili¢5 an(Vor Icarning disabilities. Engaoed wilh a further 273 people on Active Through Foocball, 750/0 of which were classified as inactive before commencing participation 42 women from South-East Asian heritage participating in the first ATF Women's Football League with 6 teams representing Im act." Mihai's Sto Onc parti¢ipant who has benelitted from Huddersfield Town Foundution'5 udull w¢llb¢ing programmes. Heads Up and WellbeinB Football, is Mihai. Mihai relocated to England in his Curly l¢ens fTOtn Romarlia LO live iyitli his older sister. Icaving bchind hi% parcnts ttnd oiher Family rncmbers. Hc arrived in Dewsbury as a non-English spcaking teenager, who then fac¢d isolatiort and bullying. Due io the drastic cli¢inge in enviroi)m¢nt and str¢ssors, Mihai &YPLrienccd symptoms of lo%v mood, and later ¢xp¢rien¢¢d his first episodc of p5y¥hvbi5. ATher initial ircdiment. l)e was discharged into thc care of the NFIS P%ychosis leam in Scpt¢mb¢r 2021. In an ttttempl 10 engage Mihai in a posilivc activity wh¢r¢ h¢ would f(x.I safe and includcd. hi5 Care Coordinator brought him to Fluddeisticld Town Foundation's weekly Wellbeing b{tball and Fleads Up 5es5ion5. t)u¢ 10 th¢ fflvdLLdLion prc5crib¢d for his ¢D[al h¢alih. Mihai Iiad e.xpcrienced weight gain. so il was hoped th#t ai(ending Wellbeing I".oorball would have holistic benefils for him. Gregory Russell (NFIS Psy¢hosis I'¢aml supported Mihai during his r¢Very. "My job is lo work with Mihai to hLlp him achicvc his goa15. aJ)d in so doing, &iicmpt to coordinate and provide him with Care. In our timc working togetl)ci'. Mihai id¢ntified go&ls starting to make friends. fr¢ling lik¢ h¢ f5(tcd in in the local are4 to lose weiglit and to gct back lo edu¢ation. 140th Mihai and l idcntificd that the fooiball group and the Socidl group {Heads Upl has b¢¢n & viral inierveniion for Mihai. It 15 ¢)n¢ of th¢ things ¢hil help¢d him stay in remi55ion. 'Football is a hug¢ stress d¢l¢irenl for Mihoi. the group h&s also made him feel like he b¢longs in the locdl area, given him som¢ihing lo attend each week and allow¢d us 10 work on his c4)nfidence in many way5. FiTStly. I io takL him ¢v¢ry week, now he gets the bus and is ¢onfident in doing so. Overdll. he is much mor¢ indep¢ndLnl." "He h&s also made some great friends there. perhap5 his first true friends in the area for a long timc. The gTOUP has a150 allowed him to105e weight whi¢h has m&ssiv¢ly increased his sclf-eslecm. alongsid¢ oth¢r Ihin¥5 we have bccn working on such as bLlt¢r di¢t. B¢ing so involved in football has also ¢xpand¢d his interests. now following Towi) result5 not just Man Unitcd! 14e hlls learni to socialise. Flc wcnl back io coll¢g¢ in Sept¢mber. All of this is so itnportant in our understanding ofhow peopl¢ u¢hi¢v¢ good m¢ntal health." Mihai no longer requir¢s support from rhc NHS Psychosis team and Ivas invited to ¢¢l¢bral¢ th¢ progress he made with Huddersfi¢ld Town FoUndlon. Is a Community Hcro e&rli¢r this y¢ar. experiencing a full match day in hospitality. Page 4
Tlie inipael of ilie Srtfe Spt7ces andPlacesprogronimes saw oclilevemenls includliig Expansion of thc Premier League Kick5 programme to 16 weekly sessions across Kirklee5. Engaginu with 1232 participants Premier League Kicks of which 246 were female. with engagement in positive activitie5 at limes of increased risk of anti-social behaviour. 420+ young people per year taking part in preventative workshops contributing to safe and stronger communities. 388 participants engaged for 10 or more sessions across the delivery year. 207 yountrts people attended a Kicks competition. 32 young people with experience of ¢are receiving targeted mentoring to support positive progressions inlo education, work and training. 15 FA Level l in Leadership qualifications delivered in HMP New Hall through the Twinning Projec¢ during the 2023124 year. act.. Talh Talha is no strangcr to playiftg a positive role in his local community. As well as laking p&n in HuddcTsfield Town roundations Pr¢mier League Kicks. he 15 an activc member of his local mosque where he has planned and delivered a variety of proje¢ts such as proteeting a neArby green5¢¢ and serving hot meals in the town e¢ntre during the cold winleT months. Talha's commilmcnt to so¢i#l t10ft has not only been recogni5ed by Huddersfield Town Foundation but ¥Llso by the Premier League Charitable Fund, who 5el¢rt¢d him as a member of their #iwill Prot¢¢t the Planet You(h Panel. The Youth Panel is a group of14 yourtg people from across the country who have come together to lead. infomi and deliver the PLCF'S social action environmental project whi¢h culminated in an inspiring Prote¢t th¢ Planet Celebration Event in Livci'pool last Novcmbcr. '1 was asked to join the Youth P8ncl Jnd I saw the chance to bc a part of something that could become greaL" h¢ $8ys. 'I've got an opportunity to do big things and makt a name for myself. From the start we had Iht airn ofmaking the event happen. It kept building and building and. in the end. we conquered it." -rhc celebrntion at Liverpool's Anfield Stadium brought rogether club5 and young people from across the country in thc name of su.stainability and protecting th¢ environment. Participants from Premier League Ki¢k5. Premier League Primary Stars and Pr¢mi¢r Le8gue Inspires were able lo take part in workshop$ and PTesent their social action ideas for ia¢kling ¢limate change. '1 saiv young kids smiling and I felt that we were the reason for them srniling., he says. '1 felt like l achieved somcthing, that I'vc mad¢ their day and that I modc a difference. "I was proud that we were 8bl¢ to get people io attend. Our airn to spread awareness so if the5c young childrcn are passionaLe #bout th¢ ¢nvironmenL when they 8row older they can do 50rncthing about it and do the sam¢ ihing we are doing. Delivering such a significanr event has involved plenty of work for the Youth Panel ov¢r the l&st few rnonihs as they h¢ld meLrting5 and presented ideas- giving Ih¢m plenty of 5Kills they can tak¢ into further education and b¢yond. 'Ye learned a loi.. he slys. 'Mi5takes happen or you might get d seibaGL but you've jLL8t got to try youi bcsL k¢¢p striving artd break through the barri¢r5. "I wasn't as confident in speaking with largc crowds and getting involved. Bul as ive went along, I h&vE b¢¢ome mor¢ confid¢nt- I haye become morc of a public speaker. I can happily speak to people without 8ny problems. 'Therc's no planet B so we've got to lak¢ ¢arc of planetA. This is our hom¢. There are no trees, grass. flowers or beautiful things on other planets. We'v¢ b¢cn bl¢ssed 50 we should appreciaie it take car¢ of it." DPite having a¢hieved so mucFt during this year. Talha is 5hDwing no signs of 51owing down. "When I go bjck io the mosque and work again with Huddersfield Town, I can explain what we did and try to get the samc thing in other places. Tliat'5 for the futur¢. For now. Talha says h¢ is grateful to Huddcr5fi¢ld Town and PL Kicks for h¢lping him make a differertce. "If it ivasn't for them. I wouldn't be in thi5 silu&tiort,' he Y$. 'It wa5 th¢ interaction I had that gor m¢ involved" Page 5
The Impuct of ihe Moveipienl aiidA¢tivily prograthm acliievenieiils iiicludliig 1,200 free places provided per year on our football holiday camps to children who need it m05t. 120+ children and young people with a disability per year ac¢essin8 free weekly inclusive sporting provision. 122 Iree places provided per year on our inclusive holiday camps to children and young people with a disability. 18 females engaged in our Calderdale College BTEC programme 16 males engaged in our Kirklees College BTEC programme.
Ct.. Maiiie"5 Sto
One participant who lias benefitted from Huddcrsfield Town Foundation's Terriers Abiliiy programmes. is Mattie. Mallie was boi'n with a hole in his hean aAd speni nearly three months in Ini¢nsive Care Unit in Huddersficld Royal InFirmary. He was on oxyg¢n for ihe first ten months ofhis life and also had to b¢ tube f¢d. In tha( time, hc had Ihr¢e lots oFop¢n heart surgery. Ihe first being when he only a fcw w¢cks old. Matlke's mum. Kale. said... -All of ihis has never 5toppcd Mattie, knd he letsds a very busy ZLnd tulfilling life. li is important for Mattie to keep his heart fit. 50 wc h&v¢ always made sure tliat he exLrcises regulaTly and now h¢ pltLy5 Sport most days. football is his fiisl love. though L105ely followed by table tennis and hc has mad¢ som¢ lovely friends tlirougli his 5POrting a¢iivili¥s. HL is just mad keen on sporL and wc ar¢ kcln for him 10 Stay as aetive as possibl¢_" 'I'hc foundalion run a number of programmes under th¢ Tcrricrs Ability banner. Ihd(2im to provide thos¢ iviih additional ne¢ds. lening disabilstie5 atsd difficul(i¢s with an opportuniLy io play sport, tn¢¢t and new friends. all in environTn¢nt thai Is safe. wliere our participanis can ihriv¢. Our Inclusive Holiday Camps. funded through Kirkl¢¢s Council's Shon Brethk Fund offers such opportuiiity. "The s¢hool holiday camps are a godscnd as his dad 4d I boih work lull time. so it mcans that h¥ has somewherc to Itt trsome steam and so¢ialise with his friends in Ihe holiday5. It helps his independ¢nce &s well as communicaiion and social skills gnd h¢ l)as the opportunity 10 mix ivith lots of difl¢Tenl pcople. The More ollen lie hds attended ti)L Lamps. th¢ moT¢ ¢onfident he has become." K&te- Mattie's Murn Grants Payable During the 2023124 financial year. due ¢0 the changes in Club ownership, the previously run Walk for Pounds, and 'Pedal for Pounds, oi'gani5ed by the Foundation in support of the Club did not take place. Due to Issues with the overlapping Football and Rugby League fIXreS. the 'Big Sleep Out, ¢v¢nt, usually held at the John Smith's Stadium, was not able to be aanged. As a rcsult. the Foundation did not generate funds to support external grant awards in the financial year under review. Fundraising and Events Fundraising aclivilics during the year wer¢ primarily directed to supporting our Schools based Breakfast Clubs programme as the Board recognised the importance of sustaining this offer posi pandemic and as we moved into a cost-of-living crises. The ' Wear Blu¢ and White, day An January 2024 proved su¢ces5ful with support from schools and the wider busine55 community. The Foundation wa5 able to 5UPPOrt inau8ural 'Biking for Breakfast5, event which involved 18 members of the Club supporter base cycling from Huddersfield to Ipswi¢h and raising fvnds to support the Foundation Breakfast Club programme. In the ture. given the impact of the cost-of-living crisis, the Foundation will target its Fundraising plan lo iii¢lude a range of fundraising streams which require le5S Staff resource e.8. regular giving scheme, give as you ¢arn, legacy giving, eic. Page 6
Related party relationships Although Huddersfield Town Foundation is governed and financed independently of Huddersfield Town Association Football Club ('the Club,), the Club supports the Foundation in many ways, including through gifts in kind of staff clothing, match tickets. discounted season tickets for staff and merchandise. Further inforniation can be found in the notes to the accounts. Financial Review The Foundation aims to oper&te at a break-even basis. utilising all revenue generated to serve the Kirklees community. The table below summarises the financial position for fin3nci&l years 2023124 and 2022r23.. 31 Autsust 2024 31Au st 2023 Variance Total Income Total Ex enditure Investment Movement Net Movement ITh Funds 1,155 370 1,263 104 1,174,251 1,233,252 9,826 49.175 18,881 11,368 In the year to 31 Auoust 2024, the Foundation incurred a net Ios5 of £60.543 (2023.. £49.175). Within Restricted Funds, there are specific funding Stipulations in relation to Active Througb Football, Children in Care and Health programmes which requiTe any surplus generated to be carried forward for fijture utilisation on the specific projects. There are lime constraints on the utilisation of the Children in Care and Health reserves with the Premier League PFA grants required to be utilised by no later than 31 August 2025. The financial result above excludes the budgeted release of restricted rcserves in relation to both the Children in Care and Hcalth PTotrrammes. After release of reserves, underlying performance is.. 31Au usl 2024 60,543 Net Movement in Funds above Release of Restricted Funds Health Children in Care Net Movement in Funds after utilisation of brou 15,023 27,421 t forward restricted reserves refer note 17 to the Financial Statemcnts The principal cause of the105s for the financial year is the ongoing impact of inflationary pressures on operating costs. Salary costs have bcen impacted by increases in National Living Wage, venue hire cost increases impacted programme delivery whilst food cost increases impacted the Foundation Breakfast Club programme. Wljilst costs have increased. the recurring Foundation grants (PLCF, EFLT. Football Foundation) do not include an inflation adjustment which means that revenue is red de5Plte costs increasing. This creates a challenging environment as demand for the Foundation's support remains high yet operating costs continue to increase. Fortunately. the Foundation h?5 established a solid financial p051tion including a strong balance sheet. The budoet for the 2024125 financial year includes challenging targets but the Foundatiorn has established mechanisms to monitor, review and challentre financial perfomjance on a monthly basis. The 2024125 budget was approv¢d at Board in October 2024. Source of Fund5 The Foundation has continued to receive recurring grant funding from the Premier League Charitable Fund ('The PLCF.), the EFL in the Community (fonnerly 'EFL Trnst,) and the Football Foundation. The PLCF requires periodic reports to be submitted that outlines the quality of delivery undertaken. The Foundation was deliohted to re¢eived 'exemplary' and 'good' end of year gradings across all programmes for 2023124. Page 7
Ln addition. a number of successful grant applicaiions were secured during the year, from both national sourccs such as Barclays Digilal Schools Partnership, Kelloko's and Triantsle Trust. and locally based grant fund¢rs such as Kirkl¢¢s CouDciI (Holiday Activity Fund) and One Community Foundation. The Foundation's grant funded programmes operated within expecied financial parameters. These have enabled the Huddersfield Town Foundalion to widen th¢ delivery and impact il makes on the Kirklees Community. The Huddersfield Town Foundation is the only CCO across the Premier League and EFL to operate a Breakfast Club progrdinme. There are unique challenges arising from the operation of the Breakfa$t Clubs as there is limited grant funding to support programtne. Costs are primarily covered through h05tinir fundraising events and seeking donations. At present, budgets are sel at the start of the year and income is then sough( io cover the anticipated costs. Where income generation is less than in¢u¢d expenditure, Foundation reserves are allocated lo offset the shortfall. In the future, the Breakfast Club operating model may be chanued so that incotne generated in one year is then released in the followlng year i.e. expendilure is limited to the funds raised in advancc. Post financial year end, the Labour Government announced in lis Autumn budget the proposal that all Schools will have a Breakfast Club. To date, the details of how this scheme will operate has yet to be clarificd. As such. the Foundation has not been able to assess what impact th¢ national Scheme will have un Ihe operation of the Foundation's Breakfast Club programme. Investment policy aDd pcrformance The Trustees have powers to invest bjnds as set out in the Memorandum and Articles of Association. As at 31 August 2024, the Foundation holds a portfolio of investments value al £399,931. The investments held are primarily in collective investment scheme ass¢is and are, by their nature, diversified by both industy lind geographical sectors. The iThv¢stment objective is to maintain th¢ real tenn capital value of the portfolio by reference to the rale of inflation. As al 31 August 2024, surplus cash reserves are held in nine short lo mediun) terni deposit a¢¢ounts, each d¢posit is with a UK Regulat¢d financial institution and the deposit value is within the Financial Services Coinpensation S¢h¢ine protected amount of £85.000 per holding. Reserves Policy The Trustee Board have assessed the financial obligations of the charity and have delerniined that the level of unrestricted and non-designated reserves required by the charity equates to six month5, expenditure. These reserves should not be held in fixed assets. During the year to 31 August 2024, six month3, expenditure equated to £631,552. This amount is inGIu5iv¢ of the following- The operatioThal running costs of the Foundation inclusive of facility hire and delivery costs. Remuneration of Foundation staff. Reserves al 31 August 2024 arc shown in the table below. compared to the prior year. 31Au ust 2024 1252.806 31Au ust 2023 I,J13,349 Total Reserves Of Which.. Restricted Reserve5 Unrestricted Res¢rves 251.209 1001.597 286,122 ,027.227 Unr¢stricted reserves less fixed assets at the period end of £20.979 lotalled £980,618. The Foundation CUentlY operates from office space within a Kirkle¢s Active Leisure facility. In the medium- term, ¢he FouThdaiion would like to operate from a lartser facility that incorporate5 classroom space. The FouThdalion is seeking 10 build sufficient reserves to enable a larger facility lo be secured. Restri¢led reserves contain grant funding that must be utilised in the delivery of progratnme5 specified by Éhe grantor. Page 8
Future Plans Firstly. a big thank you 10 all Trustees, staff. volunteers. and parffiers who have worked together to deliver much needed support and services throughout what has been both a challengints and exciting time for the Foundation over the past 12 months. We continue to develop our fst principals of embedding our services, especially at grass roots with young people and other disaffected groups. Wc know we can only do this by ensuring we have stronger cotnmuniti¢s through the power of sport. Of importance, it has been a productive year. and this is marked very publicly through our financial report. Our central priority remains the services we provide to the communitie5 with which we work so closely. But we have alway5 aimed al engaging not only the wider community here but further afield. The Foundation remains strongly committed to tackling inequalities across Kirklees. The strength of the Foundation delivery and the commitment and quality of our staff give us the confidence ro meet the significant challenges aE)ead. A5 we pivot forward, the Foundation under new leadership, both at a strategic board level and CEO will need to drive evolution, transfornjational change, and generate additional income from ever de¢reasing funding sources to ensure ongoing fmancial sustainability. We will do this through partnerships and collal)oration, both with Huddersfield Town Football Club, and, by tapping into the wider business community of Kirklees. Without105ing sighl of our main purpose, we will continue to engage where we can make a difference, seeing our role as one of building bridges through stronger communities and sporL Structure, Governance #nd management Governing Document The Charity is controlled by its Goveming documenL a deed of trust, and constitutes a limited Company, limited by ouarantee, a5 defined by the Companies Act 2006. The liability of the members is limited to £10 each. The organisation undertook a review of its governing documents.. it's Memorandum and Articles of Association and updated copies were filed in 2021 with the relevant statutory Ix)die5. To allow greater effectiveness of the operations of the Board of the Trustees, the Foundation has established the following sub-committees.. Busine55 Development and Impact {establi5hed 2024). Finance. Risk and Perfomiance {established 2021 with revised tems of reference adopted in 2024). People and Cultrjre (established 2024). Membership of sub committees includes Trustees as well as appropriately skilled independent indivTduals 50ur¢ed by the Board. The sub committee5 enabled greater Teview and development of rationale for decisions and allowed for growth in the governance of these areas with further policies and str&tegies devcloped. The Board continue to monitor a detailed risk register identifying actions that Can mitigate the risk and ensure these are activated. Recruitment and appointment of new tru51ees The Trustees have been appointed in accordance with the charity's Articles of Association, and there are currently six independent and two Club appointed Trustees. In preparation for th¢ recruitment of new Trustees during the year and also for the identification of a new Chair. the Foundation reviewed the skills of Trustees and looked to identify gaps in experiencc. As well as skill set, the Foundation are clear on the type of Trustees who will live and breathe our values and this will be influence future Trustee re¢ntitment. Recruitment and appointment of new Foundation CEO After a rigorous recruitment proress that involved input from external stakeholders. the Foundation has appointed a new Chief Executive Officer. They are du¢ to commence employment on l February 2025. Page 9
Induction and training of new tru51ees Most Trustees are farniliar with the aims and objeciives of the Charity when they are invited lo join (he Board. All Truslees are required to have completed full DBS checks prior to commencing their role. In respect to the new Trustees appointed in August 2024. fornial induction trainino was arranged includin(r the presentation by Campbell Tick¢ll of the l¢gal re5pofLsibilities of a Trustee. In addition to the fornial tTaining, a rdnge of induction documents were provided to new Trustees. These included the Memorandum and Article5 of Association, a copy of the Foundation 5taffin(¥ structure, an outline of the current prograinme delivery, financial accounts and the Foundation scheme of delegation. All Trustees are required to undertake annual safeguarding trdinino Organis8tional Strtseture The main Board of Tru51ec meetings continued to focus on strategi¢ review and strong governance. During the financial year, Board M¢etings were held on 28 September 2023. 30 November 2023, 29 February 2024 and 23 May ?024. Trustee attendance at meetings was as follows.. Trustees Carl Andrew ointed 5 Auuvst 2024) Dr Dclro Beverle oinied 16 Februa Claire Bennett ointed 5 Au ust 2024 Martin Gonzalc Aidan Grills Anne Hou resi ned 21 November 2023) Rob n Kennerdale ointed 5 Auuust 2024 Caroline Lee ointed 5 Auuust 2024 reet Sin resi ned 21 Novcmbcr 2023 Kavila Sin resi lied 23 Februa 2024 David Threlfall-s kes inled 5 Auuust 2024 an Virtue resi ned5Au U5t 2024 Meetin s Attended Maximum Pos$lble 2024 fflT BoardSu&Commlife As at 31 August 2024. the foundation operate Ihrcc sub committees, namely Business Development and Impact, Finance. Risk and Perfom]ance' and People and Culture. Trustee membership of each Sub-Cornmitt¢¢ as at 31 August 2024 was as follows= Trustee Business Devclopm¢nt and cl Fin8nce, Risk and Perforrnance People and Culture Carl Andrew Dr Delru Beverle Claire Bennett Martin Gonzalez Aidan Grills Rob n KeDnerdale Caroline Lee David Threlfall-s kes Chair Member Member Chair Member Chair Member Member Member Member The sub coJnmittees review and challengc the rdtionale for decisions and ensure strong operational governance by ratifying policies and strategies. The particular focus of each sub-cominittee is sel out below. Page 10
Fiiiunce, Risk oiid Performance Responsible for strateqic oversioht of the effectlve U5¢ of the charity's resources and to oversees associated polTCy, strategy and perfonnance. In addition, the sub-eommittee is responsible for strategic oversight of the effectiveness of systems and processes established by the Foundation to identify. assess. manage and monitor financial and non- financial risk and internal contro15 and to oversee the annual audit. People and Culiure To oversee the Foundations activities in relation to all areas of People and Culture in line with the objective5 set by the Foundation Trustees. The sub-committee ensures effective governance in respect of the delivery of the People Strat¢gy and other workforce-related initiatives, and the strategic monitoring of people-related issues, including organisalional culture. The sub-committee will also seek assurance that the Foundation has robust systems and processes to deliver a positive working environment to in turn deliver saft and high services through highly motivated colleagues. The 5ub-¢ommittee monitor perform8nce of all people measures including safeguarding incidents. Biislness Developmenf andJmpacl To oversee. and report on the Foundation5 activities as Lt relates to 1411 areas of Busines5 Development and Impact Committee in line with the objectlV¢5 set by the Foundation Trustees. The sub-committee is responsible for review and approval of business cases and budget proposals for new programme delivery and to review appropriate management aangernents for each programme. Managing Risk The Trustees review the major risks to which the Charity is exposed, in particular those relating to the operdtions and finances, and are satisfied that systems and procedures are in place to mitigate any exposure. liifernffl Coiilrols The internal control system ensures that income, expenditure and performance of the Charity is carefully monitored and is designed to provide reasonable assurances &gainst material misstatement and loss, including.. An Annual Budget approved by the Trust¢es. Regular consideration of financial results. Identification and management of risks. Snfegiinrdlng The Charity has a designated Safeguarding Officer who meets regularly with HTAFC Safeguarding lead5 to review all policies and working practises. The Charity utilises the online CPOMS system to record and monitor all safeguarding incidents. In addition, procedures have been implemented to ensure compliance with th¢ health and safcty of staff and all those who participate in Foundation activities. Risk Reglsler. Risk registe15 are in place for all area5 of the Foundation. with individual programme risk registers as well a5 a holistic risk retsister for the Foundation as a whole. These register5 are reviewed at each Finance. Risk and Perfonnance sub-committee meeting and full board if/when required. Risks are assigned to key staff wilh clear reporting both into staff and upwards into Board. All risks are di5¢ussed with clear mitl8ations developed and implemented to reduce the identified risk. Pagell
Prliiclpol Rlsks As al the Financial year end. the principal residual risks identified by the Foundation were.. the loss of key personnel and requirement to fill vacant CEO role. ensuring that the Foundation has embedded best practice governance and operdling procedures. the challenge of maintaining a full staff cohort in a Challenging recruitment cnvironment and the potential impact of slaff shortages on the Foundation ability to deliver its full programme. and inflationary pressures on operatin¢F costs. Our stAff The staff of the Foundation continued to strive to make their community a better place. The commitmen4 endeavour, and detennination of the Foundation's staff to serve the Kirklee5 Community in challenging circumstances ¢ontinues to be both impressive and humbling. Staff continued to be afforded a wide range of proftssional dev¢lopmen¢ opportunities to improve their learuing. Several members of the Foundation completed Level 2 Youth Award qualifi¢alion5 during the year. Equality and Fairness in Pay, Rewards and Recognition Key Managemcnt Remuneration The salary of the Chief Executive Officer is approved by the Finance, Risk ¢d P¢rfomiance Cominittee, following recotninendations from the Chair of the Board of Trustees. who supports the performance of the Chief Executive Officei on behalf of the Board of Trustees. This review takes place on an annual basis. Any disci-etionary award above the fixed salary is subject to the Sne process and communicated to the Board ofTruste¢s. No discretionary award was made for the 2023r2024 financial year. Staff Ren)uneration The arrangements for setting the pay and remuneraiion of key management and staff continues tu sit with the FinAnc¢, Risk and Performance sub-committee. Recommendations from the sub-coinmittee are submitted to the full Trubt¢e Board for approval. Pay Principles The Foundation adher¢s to the UK Govemment'$ Statutory national minimum and living waoe rates. To mainlain a fair. rational pay structure. the Foundation has a forn]al grading structure and pay range tor each orade. The grades are bas¢d on jobs of common sizc, taking into account the breadth of responsibility, coinplexity, knowledge, skills and value to Ihe Foundation. Individu31 pay is review¢d annually and considers pay position in the range. market conditions. any relevant new qualifications or 5ki115 developed. and intemal pay relativities. Pay is reviewed consistently using thc samc approach for all staff. Annual pay budgets tak.e into account prevailing m4rk¢l conditions and relevant external benCharkS, staff retention and satisfaction, the charity budget. future plans and past performance. Gender Pay Gap As part of our commitment to demonstrate equality and fairness in recruitment. pay, promotion and development, the Foundation comply with the requireinenls of the UK Equality Act 2010 (Gender Pay Gap Information) Regulations 2017. For 20?3D024, there was no difference in salary for equivalent roles. Page 12
Hudder5field Town Found*tion Report of the Trustees for the Year Ended 31 August 2024 REFERENCE AND ADMINISTRATIVE DETAII Registered Compsny number 07690182 (England and Wales) Registered Charity number 146501 Registered office The John Smith's Stadium Stadium Way Leeds Road Huddersfield Wesl Yorkshire HDI 6PG Trustees M A Gonzalez A P Grills (resigned 3.12.24) J A Hough (resigned 21. I l.23) R Virtue (resigned 5.8.24) H Sintrh (resigned 21.11.23) K Singh (resigned 23.2.24) D Beverley (appointed 16.2.24) C Andrew (appoinled 5.8.24) R Kennerdale (appointed 5.8.24) C E Lee (appointed 5.8.24) (resigned 17.10.24) D A Threlfall-sykes (appointed 5.8.24) C Benneft (appointed 5.8.24) C L Griffiths (appointed 3.12.24) J L Totten (appointed 2.12.24) Auditors Harris Lacey and Swain Chartered Accountants and Ststutory Auditors Suite I The Riverside Building Hessle East Yorkshire HU13 ODZ Soli¢ltors Muckle LLP Time Central 32 Gallowgate Newcastle upon Tyne NEI 4BF Bankers Lloyds Bank plc I Westgate Huddersfield HDI 6PX Page 13
Hudd¢rsfield Town Foundation Report of the Trustces for the Year Ended 31 August 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also Ihe dire¢tOTS of Huddersfield Town Foundaiion for the purposes of company law) 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). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expendicure, of th¢ chariiable company for that period. In preparing those financial statements, the trustees are required to select suitable aecourhtin¢y policies and then &pply them ¢onsislently' obs¢rve the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent: slate whether &pplicable accouniing standards have been follow¢d. 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 compdny will continue in business. The trustee5 are responsibl¢ for keeping prOr accounting records which disclose with reasonablc accuracy at any lime the financial position of the charitable company and to enable them to ensure 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 r¢asonable steps for the prevention and detection of fraud and other irregularilies. In so far as the trustees are avwe.. there 15 no relevant audit infomiation of which the clwilable company's auditor8 are unaware; and Ihe trustees have taken all steps that they ought lo have taken to make Ih¢m5elves aware of any relevant audit infornialion and to establish that the auditors are aware of that inforniation. AUDITORS The auditors, Harris Lacey and Swain. will be proposed for re-appointment at the forthcoming Annual G¢ner&l Meeting. 'eport of the Iruslees, incorpo rectors, on ..30.... J.A4{ ting a strategic report. approved by order of the board of Iruste¢s. as the company and signed on the board's behalf by-. Dr D Beverl¢y- Trustee Page 14
Report of the Independent Auditor5 to the Members of Huddersfield Town Foundation Opinion We have audited the fmancial statements of Huddersfield Town Foundation (the 'eharitable company,) for the year ended 31 Augu5t2024 which comprise the Statement of Financial Activities, the Balance Sheet. the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financia reporting framework that ha5 been applied in theTr preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion Ihe financial statetnents.. give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. B5is for opinion We condu¢ted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are fiirther described in the Auditors, responsibllities for the audit of the financial statements section of our report. We are independent of the charitable cornpany in accordance with the ethical requirements that are relevant to our audit of the faTr¢Ial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wilh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basi5 for our opinion. Conclu510115 relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements 15 appropriate. Based on the work we have perforned, we have not identified any material uncertairnlies relating to events or conditions that, individually or collectively. may ¢ast significant doubt on the charitable company'5 ability to continue as a going oncern for a period of at least twelve months from when ihe financial statements are authorised for issue. Our responsibilitie5 and the responsibilities of the trustees with respect to going concern are described in the relevRnt sections of this report. Other information Tb¢ trustees are responsible for the other information. The oth¢r infonnalion comprises rhe infonnation included in the Annual Repor( other than the financial statements and OUT Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other inforniation aniL except to the extent otherwise explicitly stated in our reporL we do not express any forni of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infornation and, in d¢Jing $0. considoLwhether the other inforniation is materially inconsistent with the financial statemenls or our knowledge obtained in the audit or othenvise appeaT5 to be materially misstated. If we identify such aterIal inconsi5t¢nries or apparent material rnissiatements, we are required to detem]ine whether this gives rise to a material misstatement'in the fancial statements themselves. If, based on the work we have perfornied, we conclude that there is a material misstatement of this other infonnation, we are requtred to report that fact. e have nothing to report in this regard. Opinions on othtr matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the cour5¢ of the audit: the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements- and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Paoe 15
Report of the Ind¢pendent Auditor5 to the Members ol Huddersfield Town Foundatlon Matters on which we Ar¢ required to report by exception In the litrht of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit. we have not identified material misstatements in the Report of the TrusÉec5. We have nothing to report in respect of the followtng matters where the Companies Act 2006 requires us to report to you if, in our opinion-. adequate accounting records have not been kepi or returns adequate for our audit llave not been received from branches not visited by us. or the financial statements are not in agreement with the accounting record5 and returns. or certain disclosures of trustees, remuneration specified by law are not made- or we have not received all the infonnalion and explanations we require for our audit. Responsibilities of trust¢es As explained more fully in Ihe Statement of Trusiees, Responsibilities, the trustees (who are also ihe directors of ihe charitable ¢ompany for the purposes of Company law) are responsible for the preparation of the financial statements and for being satisfied that Ihey give a true and fair view. and for such intemal control as the trustees delermffine is necesgary 10 enable the preparation of fanCIal siatemenls thdlt are free from material misStat¢rnent, whether due to fraud or error. In preparing the Fmancial 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 thLY going Concern basis of accounting unless (he trustees either infrnd to liquidate the charitable company or to cease operation5. or have no rea5isti¢ altemative but to do $0. Page 16
Report of the Independent Auditors to the Mernbers or Hudder5field Town Foundation Our re5ponsibilitie5 for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial Statements &8 a whole are free from material misstatement, whether due 10 fraud or etTor, and to issue & Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit ¢ondu¢ted in accordance with ISAS (UK) will alway5 detect a material misstatement when il cxisls. 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 econi)mic decisions of Use taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below-. We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or eor, and then design and perforn audit procedure5 responsive to those risks. including obtaining audit evidence that is sufficient and appropriate to provide a basi5 for OUT opinion. Identifying and assessing potential risks related to irregularities- In identifying and assessing risks of Material mi5slatement in respect of irregularities. including fraud and non-compliance with laws and regulations, we considered the following.. Audit response to risks identified: the namre of the industy and sector. control environment and busines5 perfomiance including key drivers for direciors, remuneration, bonus levels and performance targets results of our enquirie5 of management and their own identification and assessment of the risks of irregulaiities. any matlers we identified having obtained and reviewed the companies, documentation of their policies and procedures relating to-. identifying, evaluatints and complying with laws and regulations and whether they were awBrc of any instances of noncompliance. detecting and responding to the risks of fraud and whether they have knowledge of any actuat, suspected or alleged fraud,. the internal controls established to mitirffate risks of fraud or non-compliance with laws and regulations. th¢ matters discussed among the audit engagement team including regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. AS a result of ihese procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenu¢ deferra15. In common with all audits under ISAS (UK), we are also required to perforni specific procedures to respond to the risk of management oVeIde. We also obtained an understanding of the legal and regulatory frameworks that the company operates in. focusing on provisions of those laws and regulations that had a direct effect on the detemination of material amounts and disclosures in the fanCIal statements. The key law5 and regulations we considered in this context included the UK Companies Act, UK Corpordte Governance Code and local tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial 5tatem¢nts but compliance with which may be fundamental to the company's ability to operate or to avoid & material penalty. Audit response to risks identified: Our procedure5 to respond to risks identified included the following-. reviewing the financial scatement di5c105UTes and testing to supporting documentation to assess compliance with provision5 of relevant laws and regulations described as having a direct effect on Ihe financial slatement5- enquiring of management concerning actual and potential litioation and claims; perfomiinty analytical procedure5 to identify any unusual or unexpccled relationships that may indicate risks of material misstatement due to fraud. r¢ading mir]utes of meetings of those charged with governance obtained an understanding of provisions and held discussions with management to understand the basi5 of recognition or non-recognition of t&x provisions. and Page 17
Report of the Independent Auditors to the Members ol Huddersfield Town Foundation in addressing the risk of fraud thmugh management ovettide of controls. testing the appropriateness of journal entries nd other adjustments. assessing whether the judLwements made in making accounting estimates are indicative of a potential bias. and evaluating the business rationale of any significant transactions thai are unusual or outside the norn)al course of business. We also communicated relevant identified laws and regulations and potential fraud risks lo all engagement team members and remained alert 10 any indications of fraud or noncompliance with laws and reoulations Ihroughoul the iudil. A furth¢r description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.oro uWauditorsresponsibilities. 'I'his description fomis part of our Report of Ihe Independent Auditors. Use of our report This report is made solely to the charitable company's members. as a body, in ac¢ordan¢e with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been Ldertaken so that we rnight state to the charitable company'5 members those matters we are required to state to thern in an auditors, report and for no other purpose. To the fullest extent pennitted by law, we do not accept or assume responsibility to anyone other than the charitable Company and the harilable company's members as a body, for our audit work, for this report. or for Ihe opinions we liav¢ fonned. Kiehard D Lacey (Senior Statutory Ayditor) for and on behalf of HatTiS Lacey and Swain Chartered Accountants and Statutory Auditors Suite I The Riverside Building Hessle East Yorkshir¢ HU13 ODZ 30{.,1%5. Page 18
Hudder5fJeld Town Foundation Statement of Financi&l Activities for tht Year Ended 31 August 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 47.711 829 48,540 37.683 ChAritable activities Suppor(ing young people in West Yorkshire Community Premier League and other contracts 308,535 I l 0,023 173.078 481.613 110,023 414.500 411.355 89,500 398,123 414,500 Other trading activilic5 Investment income Other income 65.801 30,494 4,399 65.801 30,494 236,360 1,230 Total 566.963 588.407 1.155,370 1.174,251 EXPEIYDITURE ON Raising funds 17,445 10.068 27.513 43,949 Ch#rit2ble activities Supporting young people in West Yorkshire Community Premier League and other contracts 174,508 425.415 201.107 375,615 425,415 434.56 I 506,960 328,972 353 371 434.561 Totil 617 368 645 736 1,263 104 1233 252 Net gains on investments 47,191 9.826 NET INCOMEI(EXPENDtTURE) Transfers between funds (3,214) 22 416) (57.329) 22.416 (60.543) (49.175) 19 Net movement In funds (25.630) (34.913) (60,543) (49.175) RECONCILIATION OF FUNDS Total funds brought forward 1,027,227 286,122 1.313.349 1.362,524 TOTAL FUNDS CARRIED FORWARD 1.001597 251.209 1,252 806 1.313.349 The notes form part of these financial statements Page 19
Huddcrsfield Town Foundation Balante Sheet 31 August 2024 2024 Total fLd$ 2023 Total fijnds Unrestricted funds Restricted funds Notes FIXED ASSETS Tan¢yible assets Investments 15 16 20,979 399.931 20,979 399.931 25,663 362 274 420.910 420,910 387,937 CURRENT ASSETS Debtors Cash al bank and in hand 17 180.112 180.112 855 671 87,217 931580 251.209 784.574 251.209 1,035,783 ,018,797 CREDITORS Amounts falling due within one year 18 (203,887) (203,887) (93.385) NF.T CURRENT ASSETS 580,687 251.209 831,896 925 412 TOTAL ASSETS LESS CURRENT LIABILITIES 1.001.597 251,209 1.252,806 1,313.349 NET ASSETS 1,001,597 251,209 1,252.806 1313,349 FUNDS Unrestricted funds Restricted funds 19 I.001,597 251209 1,027,227 ?86 122 TOTAL FUNDS 1.252,806 1,313.349 Inancial 5tatetn¢nts wer¢ approved by the Board of "l-rustees and authorised for issue on .%.v4...14.W{..... and were signed on its behalf by: ever lee The notes form part of these financial statements Page 20
Huddersfield Town Foundation Cash Flow Statement for the Year Ended 31 August 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 116 317) 32,270) Net cash used in operating activities 116,317) 32 270) CAsh flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Sale of fixed asset investments Interest received Dividends received (4.019) 4,399 9,534 29,081 (22,838) Net cash provided byl(used in) investing activities 40.408 21.608) Change in cash and eash equlvalentS Ill the reporting period Cash and eash equivalents at the beginning of the reporting perlod (75,909) (53.878) 931,580 985,458 Cash and cash equivalents at the end of the reporting period 855,671 931580 The notes forni part of the5c financial statements Page21
Hudder5field Town FouDdation Notes to the Cash Flow Statement for the Yt2r Knd¢d 31 August 2024 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net expenditure for the reportiJ)g period (As per the Statement of Financial Activities) Adjuslments for: Depreciation charges Gain on investments Profit on disposal of fixed assets Interest received Divideiids received (Increase)Ideereasc in debtors Increasel(decrease) in creditors (60,543) (49,175) 8,703 (47.19l) (4.399) (29.081) (1.413) (92,895) 110502 5,357 (9,L?6) (1 ?30) 98,239 75,6351 Net cash used in operations 116,317) 32 270) ANALYSIS OF CHANGES IN NET FUNDS At 1.9.23 Cash flow At 31.8.24 Net eash Cash at bank and in hand 931,580 75.909) 855,671 931.580 75,909 855,671 Total 9)1.580 75.909 855,671 The notes fom) part of these financial Statements Page 22
Huddersfield Town Foundation Notes to the Financial Ststements for the Year Ended 31 August 2024 COMPANY INFORMATION The company is a private company Itmited by guarantee and is incorporated in England and Wales. The address of its registered office is The John Smith'5 Stadium. Stsdium Way, Leeds Road. Huddersfield, HD2 IYY and Ihe company's tradints office is Leeds Road Sports ComplexlPlaying Fields, Leeds Road, Huddersfield. HD2 IYY. The company's registered number is 07690182. The principal activity of the company in the year under review was co advance in lifc and help young people through the provision of recreational and leisure time activities provided in the interest of social welfare, desitrned to improve their conditions of life and provide support and activities which develop their skills, capacicies and capabilities to enable (hem 10 participate in society as mature and Te5pon5ible individuals. ACCOUNTING POLICIES B9sis of prep8riDg the finon¢i41 st*tements Th¢ financial statements of the charitable company, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities.. Statemenl of Recommended Practice applicable to chariti¢s preparin8 their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, except for investments whieh are included at market value. Monetary amounts in these financial statements are rounded to the nearest whole £1. Th¢ financial statements are presented in sterling which is also the nCtIOnal CuencY of the company. Critieal accounting judgements 2nd key sources of estimation uneertalnty Accounting e8timal¢s, by definition. will often vary from the actual results. They are continually evaluated and are based Dn historical experience and other factors. including expectations of tUre events that are believed lo be reasonabl¢ under the circumstances. The nature of the estimates and assumptions that h8ve a significant risk of Causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. Usefvl economic lives tangibl¢ assets The annual depreciation charg¢ for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets, which are re-assessed annually. They are amended when ne¢¢ssary to reflect current estimate5, based on technological advancement, tUre investments, economic utili581ion and the physical condition of the assets. Impainnent of debtors The company makes an estimate of the recoverable value of trade and other debtors. WThen assessing impairnient, management considers factors including the ageing profile and recent coffespondence with the debtors and historical experience. Revenue recognition For revcnue related to grants and Service level agreemenls entitlement to income is judged on a cBse-by-ca5e basis a5 to whether this occurs on receipt of the grant or is subject to either time or perfoMance-related conditions. Income is deferred where it is judged that the delivery of services relates to futltre periods. the income is subject to performance-related conditions that have rLOt yet been mel or th¢r¢ are other terns and onditions that prevents entitlement to the income. Finan¢ial instruments The charitable company has th05en to adopt Section I l of FRS 102 in respect of financial instruments. Short terni debtors are measured at transaction price, le55 any impairnient. Short telrn creditors are measured al the transaction price. Page 23 ontinued.-.
Huddersfield Town Foundation No¢es to the FinAncial StAtements- continued for the Year Ended 31 August 2024 ACCOUNTTNG POLICIES- continued Income Income received for servi¢¢s provided is accounted for on an ¢rUal,5 basis. Cash donations, gifts and legacies are included in fvll in the income and expepAdilure account as they are received. Any significant non-cash donations are included in the income and expendilui'e account al the trusiees, estimate of their market value when received. The value of voluntary help is not included in the account5. Grants and other funding of a revenue nature are deferred and released to the income and expenditure accourLt over the period to which they relate. Bank inierest is included in the income and expenditure account on an a¢¢rual's basis. Debtors Debtors include amounts owed to the charity for the provision of services or amounts the chariry has paid in dvanLe foi th¢ goods and services it will receive. Debtors also include amounts receivable on grant funding to which the Gharity is entitled. Debtors are measured at their recoverable amounts. Expenditure Liabilities are recognised as expendilure as soon as there is a lega5 or constructive obliuaiion Committing the harity lo that expenditure, il 15 probable that a transfer of economic benefits will be required in settlement and the amounl of the obligatioi) call be ineasured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate dll cost related to the category. Du¢ to the nature of the grants received by the charity all costs. including overheads, have been directly allocated to activities. Creditors A liabtlity is r¢cognised foi the atnount that th¢ charity anticipates it will pay to settle the debt or the amount it has re¢¢ived as an advance paym¢nt for s¢rvice5 it must provide. Liabilities are measured at their settlement amount. Tangible fixed assets Depreciation is provided at the following annual rdte5 in order to wriie off each asset over its estimated useful life. Improvements to property Fixtures and fittinirs Motor Yehicle5 Compufer equipment over length of lease 25 /0 Oll Cost 25Yo on cost 250/0 On C05t Tax4tion The charity is exempt from corporation tax on its Charitable activities. Fund aecounting Unrestricted fiinds can be used in accordance with the ¢haritsble objectives at the discretion of the trustees. Restricted Ojnds can only be used for paTticular restricted puryoses within the objects of the charity. Re5trtction5 arise when specified by the donor or when funds are rais¢d for particular restricted puryoses. Further explanation of the nature and pUose of each fund is included in the notes to the financial statements. Page 24 conlinucd...
Hudder5field Town Foundation Notes to the Fingneial Statement5 - conllnued for the YeAr Ended 31 August 2024 ACCOUNTING POLICIES- continued Fixed asset investments Fixed asset investments are measured initially at ¢osl and sub5equ¢ntly at fair value at the reporting date. Changes in fair value 3r¢ recognised &8 income or expenditure in the Statem¢nt of Financial Activities. Cash and cash equivalents As al the year end, the Charity held a portion of its ¢a5h reserves within high interes¢ fixed rate bond5. Due to their highly liquid nature, these have been included within Cash at bBnk and in hand. DONATIONS AND LEGACIES 2024 2023 Donations 48,540 37.683 OTHER TRADING AcfivITIES 2024 2023 Fundraising events 236,360 INVESTMENT INCOME 2024 2023 Other fixed asset invest- Fll Deposit account interest 1.413 29.081 1,230 30,494 ,230 INCOME FROM CHARITABLE A1VITIEs 2024 2023 Supporting young people in West Yorkshire Premier League and other contra¢ts Total activities Total activities Community School income Grant5 189,004 292,609 6,023 137.515 276 985 332,542 673 594 217,074 681,904 481613 110,023 414,500 1006 136 898 978 Page 25 continued..
Hudder5field Town Foundation Not to th¢ Finaneial Staternents- continued lor ¢h¢ YeAr Ended 31 August 2024 RAISING FUNDS Raising donations and legacies 2024 2023 Sundries Siaff eosts Event costs 1,533 4,103 4,973 3,898 35,078 27,513 43.949 CHARIT ABLE ACTIVITIES COSTS Support costs (see note 9) Direct Costs Totals Supporting young people in West Yorkshire Community Premier League and other contracts 375,615 416,415 434,561 375,615 4?5,415 434,561 9,000 1226,591 9.000 1.235,591 SUPPORT COSTS Governance osts Community 9,000 io. NET INCOME/(EXPENDITURE) Net in¢om¢l(expcnditurc) is stated aftei. chargingl(crediting)'. 2024 2023 Depreciation - owned assets Surplus on disposal of fixed &%sets Accountancy fees Audit fees 8,703 (4,399) 4.050 9,000 5,355 Page 26 continued..-
Huddersfield Town Foundation Notes to the Finanelal Statements - continued for the Year Ended 31 August 2024 ii. AUDITORS, REMUNERA TION 2024 2023 Fees payable io the Chariry's auditors for the audit of the charity's financial statements 7,200 12. TRUSTEES, REMUNERATION AND BENEFITS There were no tstee5, remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August ?023. Trustees, expenses There were no 31 August 2023. trustee5' expenses paid for the year ended 31 August2024 nor for the year ended 13. STAFF COSTS The av¢rage monthly number of einployees during the year was as follows.. 2024 2023 Management. admin and support staff The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 2024 2023 £70,001- £80,000 £120,001 £130,000 During the year, a total of key management personnel Compensation of £128,911 (2023 - £81,789) was paid, this includcd a temiination payment lotalling £55.600. 2024 2023 Wages & salaries Social security Pension costs 664,390 49,657 620.992 50.543 21,196 760 688 692.731 Fage 27 continuc(L..
Huddersfield Town Foundation Notes to the Financial Statements - continued for tbe Year Ended 31 August 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 25,980 11,703 37,683 Charitable activities Supporting youno people in West Yorkshire Community Premier League and other contracts 200,350 89.500 8,088 211,005 411,355 89,500 398,123 390,035 Other trading activities Investment income 97.660 138,700 236,360 1,230 Total 422 808 751,443 1.174,251 EXPENDITURE ON Raising funds 4,921 39.028 43,949 Charitable activities Supporting youn people in West Yorkshire Community Premier League and other contracts 184,719 328,972 239 506,960 328,972 )53,371 353.132 Total 518 $51 714.401 1.233 252 Net gains on investments 9.826 9,826 NET INCOMEI(EXPENDITURE) Transfers betiyeen fund5 (86.217) 37,219 37,042 37219) (49.175) Net movement in funds (48,998) (177) (49.175) RECONCILIATION OF FUNDS Total funds broughi forward l.076.225 286,299 1,362,524 TOTAL FUNDS CARRIED FORWARD 1027,227 286,122 .313.349 Page 28 conlinued..
Huddersfield Town Foundation Notes to the Financial Statements - ¢ontinued ror the Year End¢d 31 August 2024 15. TANGIBLE FIXED ASSETS Improvernents Fixtures and fittings Motor vehicles Compurer equipmeTtI property Totals COST At I Sepiember 2023 Additions Disposals 17,539 70.316 4,019 43.290 527 l31,672 4,019 31790) At 31 August 2024 17.539 527 103.901 DEPRECIATION At I Septetnber 2023 Charoe for year Elitninated on disposal 17,539 55,434 5,828 32,509 2,875 31790) 527 106,009 8.703 31.790 At 31 August 2024 61.262 3.594 527 82.922 NET BOOK VALUE At 3 5 August 2024 13.073 At 31 August 2023 14,882 25.663 16. FIXED ASSET INVESTMENTS Listed investhients MARKET VALUE At I September 2023 Disposals Kevaluations 362.274 (9.534) At 31 August 2024 399931 NET BOOK VALUE At 31 August 2024 399 931 At 3 E August 2023 362 274 There were no investment assets outside the UK. C05t or valuation at 31 August 2024 is represented by.. Listed investmenls Valuation in 2024 Cost 37,657 362 274 399.931 Page 29 continued..
Huddersfield Town FoundxtlOD Notes to the Fillancial Statemeiits - continued for the Year Ended 31 August 2024 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtor5 Prepayments and accrued in¢om¢ 4,840 175,272 15,163 72.054 180,112 87,217 18. CREDITORS.. AMOUNTS FALLING DUE WITHIN OIYE YEAR 2024 2023 Trade creditors Other creditors Accruals and deferred in¢ome 19,455 4,153 180,279 17.785 6,685 68,915 203,887 93,385 Included within creditors above is deferred income totalling £144.738 (2023 £34,248). The movement in the year is as follows.. Charitable activities Total At I September2023 Released from previous years Defeed in the current year 34,248 (34.248) 144.738 34,248 (34,248) 144,738 At 31 August 2024 144.738 144,738 Incoming r¢sources have only been deferred in iespect of monies received in advance of the services being delivered undcr a services a8reement, Page 30 continued...
Hudder5field Town Foundation Notes to the Financial Ststements- continued for the Yelr Ended 31 August 2024 19. MOVEMENT IIY FUNDS Net movement in bjnds Transfers between nds At 31.8.24 At 1.9.23 Unrestricted funds General fvnd Breakfast Clubs usw Calderdale College Kirklecs College 1,027,227 (31.869) (2,611) 12,286 8,873 5.975 2,875 (12,286) (8,873) 10 107) 1,001.333 264 1,027,227 (3.214) (22,416) .001.597 Restrieted funds Health Children in Care Heritage Premier League Ki¢ks Disability Premier Leatsue Inspires Primary Stars Active Through Football Breakfast Club Van 52,350 123.521 26.616 (15,023) (27,421) 37,327 96,100 26,616 (4,751) 1.815 (4.048) (16.492) 8,591 4,751 4,096 5.911 4,048 16,492 68,758 77,349 7.906 875) 286,122 251209 TOT AL FUNDS 1.313.349 60.543) Net movement in fiLnds, included in the above are as follows.. Incoming resour¢¢s Resource5 expended Gains and losses Movement in funds Unrestricted funds General fund Breakfast Clubs usw Calderdale College Kirklees College 408.831 68,008 52,050 18,000 (487,891) (70.619) (39.764) (9.127) 47.191 (31.869) (2.611) 12.286 8.873 10.107 566.963 (617,368) 47.191 (3,214) Restricted funds Health Children in Care Premier League Kicks Disability Premier League Inspires Primary Stars Active Through Football 65.511 280 162,471 9.300 100,175 152,083 (80,534) (27,701) (167.222) (7.485) (104.223) (168.575) 89.996) (15.023) (27,421) (4.751) 1.815 (4.048) (16.492) .591 645 736 57 329) TOTAL FUNDS 1 155 370 1263,104) 47.191 60 543) Pag¢31 cOnted...
Huddersfield Town Foundation Notes to the Financial St#tements - eontinued for th¢ Ye8r Ended 31 AuEUSt 2024 19. MOVEMENT IN FUNDS- continued Comparatives for movement ID funds Net movemeni in funds Transfers between funds At 31.8.23 At 1.9.22 Unrestricted funds General fund Breakfast Clubs Primary Stars usw Calderdale College Wildcats 1,083.425 {40,477) {65,307) 7,779 7,632 4.156 (15,721) 65,307 (7,779) (7,632) (4,156) 7,200 1,027,227 1.076,225 (86,2l7) 37.219 1,027,227 Restrieted funds Big Sleep Out Pedal For Pounds Health Childien in Care Heriiage NCS 11,613 18,460 (32,906) 15,791 (11,613) (18,460) 85,256 107,730 26,616 52,350 123,521 26,616 (60,530) 5,354 60,530 (5,354) (19,377) (10,430) Premier Leau¢ Kicks Get Onside Kicks Targeted Disability Premier LeaDue Inspires Primary Stars Active Throuuh Fooiball Road to Wembley Designated Fund Breakfast Club Van Walk For Pounds 19,377 10,430 4,096 (14,709) 33,016 32,300 (4,862) 4,096 14,709 (33,016) 36,458 4,862 6,000 68,758 (6.000) (719) 11.500 7,489 10,781 286,299 37,219) 286 122 TOTAL FUNDS 1.362,524 49,175) 1.313,i49 Page 32 otLlinued...
Hudd¢rsfield Town Foundation Notes ta the Financial Statements - continued for the Year Ended 31 August 2024 19. MOVEMENT IN FUNDS - eontinued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in fund5 Unrestricted funds General fund Breakfast Clubs Primary Stars usw Calderdale College 335.911 20,317 8.088 43,475 (386.214) (85,624) (309) (35,843) 10 861) 9.826 (40,477) (65,307) 7,779 7,632 422,808 (518,851) 9,826 (86,217) Restricted funds Big Sleep Out Pedal For Pounds Hea5th Children in Care NCS Premier League Kicks Kicks Targeted Disabiliry Premier League Inspires Primary Stars Active Through Football Road to Wembley Breakfast Club Van Walk For Pounds 14,121 104,184 45,965 51,739 4.754 153,805 15.564 13.140 88,000 132.679 95,407 (4,862) 11,500 (2.508) (85,724) (78,871) (35,948) (65,284) (148,451) (5,134) (9,044) (102,709) (99,663) (63,107) 11,613 l8.460 (32,906) 15,791 (60,530) 5,354 10,430 4,096 {14,709) 33.016 32.300 (4.862) 11.500 7.489 17.958) 751.443 714.401 TOTAL FUNDS 1 174251 1233 252) Description as to the purpose ofeach fund Unrestricted funds represent resources available at the tru5tces' discretion in meeting the charitabl¢ objects of the charity. Big Sleep Out funds raised are for supporting the causes of homeless people in the local community- Pedal For Pounds funding is used to support breakfast Clubs run by the Huddersfield Town Foundation and other local charities. Amounts transferred from this fund to the general fund in the year relate to those amounts raised for breakfast clubs. Health ndIng received is for promoltng healthy active lifestylcs and raising awareness of health issues in th¢ community. Education funding is to be used in order to raise aspirations by engaging al inspiring individua15 to achieve their full potential. Children in Care funding supports young people in Kirklees transitioning from the carc system to independent living. We support them in a variety of ways through developing confidence. employability skills and building resilience. Page 33 Gontinued.
Hudder$field Town Found*tio Notes to the Fiuancial Statements - ¢ontinued for the Year Ended 31 August 2024 19. MOVEMENT IN FUIYDS- continued The Foundation is acting as custodian of the Heritage fund on behalf of the Huddersfield Town Supporters Asso¢iation who will deliver a heritage project to celebrate winning three league lilles in the 19205. Active Through Football is & 5 year proyamrne that will address inactivity within the geographical area of Dewsbury and work with people over the age of18. 20. EMPLOYEE BENEFIT OBLIGATIONS During Il)e period the charitable company paid £46,641 (2023: £21,196) into defined contribution schemes. The expense and liability are allocated between unrestricted and restricted funds based on employcc's tim¢ between projects. There was £3.318 outstanding at the period end (2023.. £4.544). 21. RELATED PARTY DISCLOSURES During the year, the charity had transactions with the following related parties. The Huddersfjeld Town A$soci#tlOD Football Club Limited (HTAFC) A company relaied by virni¢ of the following common directors/irustees". J A Hough (resigned 2111112023) During the year FITAFC paid expenses on behalf of the charity totalling £nil (2023 - £2.868) and net repayments totalling £nil (202J - £2,868) were made durino thc year. The ¢harity raised sales invoic¢s to HTAFC during the year totalling £25,993 (2023 £8,550) and purchases were rnade from HTAFC totalling £2 ?99 (2023 £7.402). At the year-end. there were no outstanding balances due between HTAFC and th¢ Chariry (2023- £nil). Page 34