```
REGISTERED CHARITY NUMBER: 1170056
```
## **`REPORT OF THE TRUSTEES AND`**
## **`UNAUDITED FINANCIAL STATEMENTS`**
```
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
## **`FOR`**
```
HULL 4 HEROES
```
```
Banks Cooper Associates Limited
21 Marina Court
Castle Street
Hull
HU1 1TJ
```
```
HULL 4 HEROES
```
```
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
|||**`Page`**||
|---|---|---|---|
|**`Reference and Administrative Details`**||`1`||
|**`Report of the Trustees`**|`2`|`to`|`7`|
|**`Independent Examiner's Report`**||`8`||
|**`Statement of Financial Activities`**||`9`||
|**`Balance Sheet`**||`10`||
|**`Cash Flow Statement`**||`11`||
|**`Notes to the Cash Flow Statement`**||`12`||
|**`Notes to the Financial Statements`**|`13`|`to`|`24`|
```
HULL 4 HEROES
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 NOVEMBER 2024`**
|**`TRUSTEES`**|`J Fishburn`|
|---|---|
||`Ms D Hammond`|
||`T Fishburn`|
||`K Neal (resigned 19.3.25)`|
||`B Cooke`|
||`R Clarke (appointed 23.7.24)`|
||`K Allman (appointed 4.5.25)`|
||`E Waudby (appointed 4.5.25)`|
||`L Fahy (appointed 1.6.25)`|
|**`PRINCIPAL ADDRESS`**|`Unit F27`|
||`3rd Floor Princes Quay`|
||`Hull`|
||`HU1 2PQ`|
|**`REGISTERED CHARITY NUMBER`**|`1170056`|
|**`INDEPENDENT EXAMINER`**|`Banks Cooper Associates Limited`|
||`21 Marina Court`|
||`Castle Street`|
||`Hull`|
||`HU1 1TJ`|
|**`SOLICITORS`**|`Andrew Jackson Solicitors LLP`|
||`Marina Court`|
||`Castle Street`|
||`Hull`|
||`HU1 1TJ`|
|**`BANKERS`**|`Lloyds Bank`|
||`1 Grand Buildings`|
||`Jameson street`|
||`Hull`|
```
Page 1
```
```
HULL 4 HEROES
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
```
The trusteespresenttheirreportwiththe financialstatementsof the charityforthe yearended30 November2024.The trustees have
adoptedthe provisionsof Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicableto charities preparing
theiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and Activities Summary`**
## **`Summary from the Chair of the Board of Trustees`**
```
I am pleased to present a summary of Hull 4 Heroes'strategicobjectivesand core activitiesfor the current reportingperiod. Our mission
remainsresoluteand steadfast:to supportveteransand their familiesin buildingstable,fulfillinglivesafterservice.The following goals
have guided our work throughout the year:
```
```
Wehavecontinuedtodelivertailoredwelfareservices,includinghousingassistance,financialguidance,andmentalhealth referrals.
Emergencyprovisions-suchas foodparcels,thermalclothing,andheaters-weredistributedtothosein urgentneed.We also expanded
our drop-in centres and outreach efforts, particularly in rural and deprived communities.
```
```
Our GEO and LISA peer supportgroups have grown significantly,with new sessionsintroducedat HMP Hull. We'vefacilitateda range of
wellbeingactivities,includingcoffeemornings,yoga,artsandcrafts,andguitarlessons.Veteranswerereferredtospecialist services
such as Op Courage and Combat Stress for further support.
```
```
Tocombatisolation,we increasedoutreachat foodbanks,shoppingcentres,and communityhubs.Inclusiveactivities-suchas football,
wheelchairrugby,andSit& Fitsessions-weredeliveredtoencourageparticipationandconnection.We alsostrengthened partnerships
with the Citizens Advice Bureaux (CAB), MIND, Op Courage, and local sports organisations.
```
```
WelaunchedtheVeteransCareerTransitionAcceleratorCourseincollaborationwithHullUniversity.Thisinitiativeprovides veterans
with access to training, employment assistance, and financial support, helping them transition into meaningful civilian careers.
```
```
A three-phase housing pathway was developed to support homeless veterans:
```
|`-`|**`Short-term`**|`Immediate shelter and 24/7 support`|
|---|---|---|
|`-`|**`Medium-term`**|`Access to training, mental health services, and housing preparation`|
|`-`|**`Long-term`**|`Transition to permanent housing via local authorities and private landlords`|
```
Weinvestedinvolunteertraining,includingSamaritansSTEP,FirstAid,andMentalHealthFirstAid.Operationalcostsfor drop-in
centres and volunteer expenses were covered to ensure continuity and quality of service delivery.
```
```
Theseobjectivesreflectourcommitmentto holistic,veteran-centredsupport.We are proudofthe progressmadeand gratefulfor the
continued guidance and support of the Board, Employees, Volunteers, Donors and Supporters.
```
## **`Public benefit`**
```
The Hull 4 Heroes CharityTrusteesare aware of, have consideredand regularlyreview the CharityCommission'spublic benefit guidance
to ensure activities to which it's relevant are carried out appropriately.
```
```
The Trusteesbelievethe Charityhas onlycharitablepurposeswhichare whollycarriedout for the publicbenefitwith specific members
of the public being Veterans, the Armed Forces Community and their families.
```
```
The Trustees report each year on how the Charity has carried out the charities purposes for the public benefit.
```
## **`Volunteers`**
```
Volunteersassistthe Charityon all the projectsthatare grantfunded,assistat fundraisingeventsand assistin the dailyrunningof the
CharityoperationssuchasmanagingthereceptionatthemainofficelocationandintheadministrationoftheArmedForcesHub and
the Warehouse.
```
```
Page 2
```
```
HULL 4 HEROES
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
## **`FINANCIAL REVIEW`**
## **`Financial position`**
```
Hull4Heroesincomefortheyearwas£826,211(2023:£440,342),anincreaseonthepreviousyear'sincomeduetoahigherlevel of
donations and grants received. The value of food donations included in the income figure was £369,167.
```
```
TheCharity'scostsincreasedto£879,038from£389,250inthepreviousyearduetotheinclusionofthecostvalueofthe food
donations received of £369,167 and the writing off of the Veterans' Village Development costs incurred of £107,613.
```
```
The Charity generated a deficit of £52,827 in the year compared to a surplus of £51,092 in the previous period.
```
## **`Principal funding sources`**
```
The charities principal sources of funding are:
```
```
Grant funding.
Public donations.
Charitable donations from businesses and other local organisations.
Events organised by the charity.
Events organised by the charity's supporters.
```
## **`Reserves policy`**
```
The surplusof incomeof expenditureovertime means that the Charity'saccumulatedfunds at the balancesheet date are £531,318, of
which£142,274representsrestrictedfunds.ThefundsandtheresourcesoftheCharityareperiodicallyreviewedsothatcosts of
operation could be covered for a period in the unlikely event the income were to cease.
```
## **`Going concern`**
```
At the timeofapprovingthe financialstatements,the Trusteeshavea reasonableexpectationthatthe Charityhas adequate resources
to continuein operationalexistencefor the foreseeablefuture.The Trusteesthereforecontinueto preparethe financialstatements on
the going concern basis.
```
## **`FUTURE PLANS (OUTSIDE OF THE REPORTING PERIOD)`**
```
A major part of the Charity's future plans had related to the development of a Veteran's Village.
```
```
A decisionhas been made by the Board of Trusteesat Hull 4 Heroesnot to progressthe VeteransVillageproject.This decisionhas been
based on 2 factors:
```
```
1.Achangetooperationalprioritiestofocusonhomelessnessandreducefocusontransitionalserviceswhichwouldhave been
provided through the Veterans Village; and
```
```
2. Increased costs reducing the likely benefit expected from each project phase.
```
```
The Trusteeshave informedthe AFCFTthat their fundingofferof £500k(Project7830)will not be claimedagainsthoweverinvoices for
costs incurred to date which will be applied against the £25k grant previouslyallocatedto the Veterans Village.This will be used to cover
asmallportionofthesunkcostsassociatedwiththeVeteransVillageandwillbeaddedtothefundsalreadydonatedtothe charity
specifically for the Veterans Village.
```
```
The Trustees are in the process of closing the project and are obtaininglegal advice relating to funds already donated.The intentionis to
ring-fencefundsspecificallydonatedtotheVeteransVillagetofundanotherprojectsuchasobtaininga propertytohousehomeless /
rooflessveterans and their families.Followingthe outcomeof the legal advice,the intentionis to offer to return all funds to donors who
donotwishtotransfertheirdonationtotheHull4Heroescharitytobeusedtosupporttheotherimportantservicesthe charity
delivers to veterans and their families.
```
```
A provisionhas been made in these financialstatementsfor donationsspecificallymade to the Veterans'Villageprojectwhichmust be
returned, or potentially returned, to the donors.
```
```
Page 3
```
```
HULL 4 HEROES
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2024`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
The Hull 4 HeroesCharityis governedwithinthe boundsof the Charitiesconstitutionwhichis structuredin such a way as to perform as
Charitable Incorporated Organisation (CIO) in accordance with the Charity Commissions CIO Foundation Model.
```
## **`Charity constitution`**
```
The Charity is constituted as a CIO in accordance with the Charity Commissions CIO Foundation Model.
```
## **`Recruitment and appointment of new trustees`**
```
Trustees are selected by the existing Board of Trustees.
```
```
One Trustee, Rory Clarke was appointed during this reporting period (on 23/07/24).
```
```
Threenewtrusteeshavebeenappointedsinceyearend-KellyAllman(on4/5/25),EmmaWaudby(on4/5/25)andLauraFahy (on
1/6/25).
```
## **`Organisational structure`**
```
The Charity has 8 Trustees currently with Jim Fishburn being the Chairman of the Board of Trustees.
```
```
A President is in post to provide advice and guidance as required in support of the governance of the charity.
```
```
The Charity employs 6 individuals in the roles of:
```
- `CEO`
- `Hub Manager`
- `Veterans' Health & Wellbeing Officer (VH&WO)`
- `Veterans Support Lead (VSL)`
- `Armed Forces Hub Coordinator`
- `Veterans Outreach Officer`
```
Ambassadors represent the charity publicly and support outreach.
```
```
Volunteers and staff supporting service delivery.
```
```
Page 4
```
```
HULL 4 HEROES
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Wider network`**
```
DefenceMedicalWelfareService(DMWS):Formalpartnershipfor servicedelivery,communication,and promotionunder Armed Forces
Covenant Fund Trust (AFCFT) branding.
```
```
AFCFT: Oversight and branding compliance for funded projects.
```
```
HullCityCouncil:JointdeliveryoftheArmedForcesCommunityandCovenantProject,withquarterlymonitoringand shared
responsibilities.
```
```
University of Hull: Collaborates on the Hull VCTA project and career transition support.
```
```
Memberof ASDIC (Associationof ServiceDrop-InCentres).ASDIC representsand link veterans'Drop-Insacrossthe country. Sometimes
calledHubsorCentres,Drop-Insofferavarietyofwelfareandmentalhealthsupport,togetherwithcomradeshipandasense of
wellbeing,totheex-militarycommunityandtheirfamilies.ASDIChelpsthemtoenhancetheservicetheycanprovideandmake them
more accessible.
```
```
SSAFA, Royal British Legion (RBL), Help for Heroes: Regular collaboration and referrals.
```
```
OPCourage,OPNova,OPRestore:Hull4Heroesrefersveteranstotheseservicesformentalhealth,justicesystemsupport, and
rehabilitation.
```
```
Social prescribers, social services, and community teams: Provide referrals and coordinate care for veterans and their families.
Education and Training
```
```
Armed Forces Forum: Active participation addressing housing, health, wellbeing, finance, probation, and suicide prevention.
```
```
Page 5
```
```
HULL 4 HEROES
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Risk management`**
```
Risk001:Thereisarisk,followingthedecisionnottoproceedwiththeVeteransVillageproject,thatadversepublicitywillresultin a
reduction in public support for the charity and potential legal action to recover donations intended for the Veterans Village.
```
```
Mitigation: The mitigation for this risk is:
```
- `Develop and issue communications via social media channels and the Annual Charity Commission Report to clearly articulate`
- `- the reason behind this decision.`
- `Engage with a legal organisation to identify what measures need to be put in place for all types of donations relating to the`
- `Veterans Village, and wider charity, using legal advice to inform ongoing communications relating to the Veterans Village. Offer, where practicable, based on legal advice, to return funds to any individual, or organisation who has donated funds`
- `- specifically to the Veterans Village.`
```
Risk002:Thereis a riskthatdonationstotheHull4 Heroescharitywillreduceduring2026andbeyondimpactingthecashflowof the
charity and the services on offer.
```
```
Mitigation:ThemitigationforthisriskistocontinuetoraiseawarenessofthechallengesfacedbytheArmedForces Veterans
communityandtheirfamiliesandtheimportanceofdealingwiththekeyissuestheyfacesuchashomelessnessandmental health
problems.In articulatinghow these issues will be dealt with, and in themselvesmitigated,this will ensure funding for these core services
willberetained.ThisapproachwillbeappliedacrossallservicesofferedbythecharityensuringtheservicedeliveredbytheHull 4
Heroes charity always drive to mitigate issues faced by the veterans' community.
```
```
Mitigatinghomelessnesschallengesby establishinga temporaryhousingsupplyfor veteransand their familiesusing propertyowned by
the charity, or third-party property available for use as temporary accommodation for the veterans' community.
```
```
Mitigationmental health challenges,by the establishmentof more GEO and LISA TalkingGroups across the Hull 4 Heroes region and the
raisingofawarenessofmentalhealthproblemsincludingworkingwithprofessionalbodiestopreventsuicideescalatingwithin the
veterans' community.
```
```
Risk003:Thereisa riskthatthecharitywillfailtoofferthelevelofservicesexpectedbytheveterans'communityandwider regional
organisation which currently support Hull 4 Heroes.
```
```
Mitigation:Regularservicereviewswill be held with the Board of Trustees,localCouncils,veterans'organisationsand fundingbodies to
clearly articulate the benefits of the services being offered and the extent to which these services are used.
```
```
Outcomesandadvicefromservicesreviewswillbedocumentedandimplementedwithinthecharitiesoperationstoensure benefits
from improvements can be articulated and clearly communicated to donors and supporters.
```
```
Governance Policies include:
```
```
Complaints handling
Conflicting interests
Risk management
Safeguarding vulnerable beneficiaries
Volunteer management
Health & Safety
Equality, Diversity and Inclusion
GDPR
Privacy
Environmental
```
```
Page 6
```
```
HULL 4 HEROES
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2024`**
## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES`**
```
The trustees are responsiblefor preparing the Report of the Trustees and the financialstatementsin accordancewith applicablelaw and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
```
```
Thelawapplicabletocharitiesin EnglandandWales,theCharitiesAct2011,Charity(AccountsandReports)Regulations2008and the
provisionsof the trustdeed requiresthe trusteesto preparefinancialstatementsfor each financialyear whichgive a true and fair view
ofthe stateofaffairsofthe charityand ofthe incomingresourcesand applicationofresources,includingthe incomeand expenditure,
of the charity for that period. In preparing those financial statements, the trustees are required to
```
- `select suitable accounting policies and then apply them consistently;`
- `observe the methods and principles in the Charity SORP;`
- `make judgements and estimates that are reasonable and prudent;`
- `state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;`
- `prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.`
```
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatanytimethe financial
positionofthecharityandtoenablethemtoensurethatthefinancialstatementscomplywiththeCharitiesAct2011,the Charity
(AccountsandReports)Regulations2008andtheprovisionsofthetrustdeed.Theyarealsoresponsibleforsafeguardingtheassets of
the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
```
```
Approved by order of the board of trustees on 23 September 2025 and signed on its behalf by:
```
```
J Fishburn - Trustee
```
```
Page 7
```
```
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
```
```
HULL 4 HEROES
```
## **`Independent examiner's report to the trustees of Hull 4 Heroes`**
```
I report to the charity trustees on my examination of the accounts of Hull 4 Heroes (the Trust) for the year ended 30 November 2024.
```
## **`Responsibilities and basis of report`**
```
As the charitytrusteesof the Trustyou are responsiblefor the preparationof the accountsin accordancewiththe requirementsof the
Charities Act 2011 ('the Act').
```
```
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarryingout my
examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
```
## **`Independent examiner's statement`**
```
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.IcanconfirmthatI am
qualifiedtoundertaketheexaminationbecauseI ama memberoftheAssociationofCharteredCertifiedAccountants,whichisone of
the listed bodies.
```
```
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwiththe 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 havenoconcernsandhavecomeacrossnoothermattersin connectionwiththeexaminationtowhichattentionshouldbe drawn in
this report in order to enable a proper understanding of the accounts to be reached.
```
```
Tracy Hutty FCCA
```
```
Banks Cooper Associates Limited
21 Marina Court
Castle Street
Hull
HU1 1TJ
```
```
23 September 2025
```
```
Page 8
```
```
HULL 4 HEROES
```
## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2024`**
|||||`30.11.24`|`30.11.23`|
|---|---|---|---|---|---|
|||`Unrestricted`|`Restricted`|`Total`|`Total`|
|||`funds`|`fund`|`funds`|`funds`|
||`Notes`|`£`|`£`|`£`|`£`|
|**`INCOME AND ENDOWMENTS FROM`**||||||
|`Donations and legacies`|`3`|`411,905`|`245,654`|`657,559`|`302,979`|
|`Other trading activities`|`4`|`165,546`|`-`|`165,546`|`135,119`|
|`Investment income`|`5`|`3,106`|`-`|`3,106`|`2,244`|
|**`Total`**||`580,557`|`245,654`|`826,211`|`440,342`|
|**`EXPENDITURE ON`**||||||
|`Raising funds`|`6`|`175,694`|`63,955`|`239,649`|`172,132`|
|**`Charitable activities`**|`7`|||||
|`New Office Costs`||`-`|`-`|`-`|`33,854`|
|`Veterans' Emergency Needs`||`5,907`|`1,118`|`7,025`|`13,610`|
|`Veterans' Village Development`||`107,613`|`-`|`107,613`|`7,977`|
|`Forces Together Project`||`-`|`-`|`-`|`9,284`|
|`On the Doorstep for Veterans Project`||`160`|`22,899`|`23,059`|`41,717`|
|`Out & About for Veterans Project`||`-`|`-`|`-`|`10,547`|
|`Suicide Prevention Project`||`1,435`|`2,523`|`3,958`|`21,630`|
|`Veterans' Allotments Project`||`-`|`-`|`-`|`12,340`|
|`Cost of Living Project`||`68,474`|`9,232`|`77,706`|`5,001`|
|`Eat Well For Less Project`||`-`|`-`|`-`|`2,000`|
|`NBF Food Collaborative Project`||`-`|`-`|`-`|`25,100`|
|`Sporting Force Project`||`-`|`15,234`|`15,234`|`8,928`|
|`Force for Change Project`||`-`|`11,815`|`11,815`|`20,120`|
|`Force for Change - Sport for All Project`||`-`|`1,776`|`1,776`|`5,010`|
|`Veterans' Community Hub`||`11,124`|`64,541`|`75,665`|`-`|
|`Sport for All Project`||`303`|`1,482`|`1,785`|`-`|
|`Awards for All Project`||`603`|`1,150`|`1,753`|`-`|
|`Foodbank assistance`||`312,000`|`-`|`312,000`|`-`|
|**`Total`**||`683,313`|`195,725`|`879,038`|`389,250`|
|**`NET INCOME/(EXPENDITURE)`**||`(102,756)`|`49,929`|`(52,827)`|`51,092`|
|**`RECONCILIATION OF FUNDS`**||||||
|`Total funds brought forward`||`491,800`|`92,345`|`584,145`|`533,053`|
|**`TOTAL FUNDS CARRIED FORWARD`**||`389,044`|`142,274`|`531,318`|`584,145`|
```
The notes form part of these financial statements
```
```
Page 9
```
```
HULL 4 HEROES
```
## **`BALANCE SHEET 30 NOVEMBER 2024`**
|||||`30.11.24`|`30.11.23`|
|---|---|---|---|---|---|
|||`Unrestricted`|`Restricted`|`Total`|`Total`|
|||`funds`|`fund`|`funds`|`funds`|
||`Notes`|`£`|`£`|`£`|`£`|
|**`FIXED ASSETS`**||||||
|`Tangible assets`|`16`|`4,311`|`86,686`|`90,997`|`106,795`|
|`Investments`|`17`|`200`|`-`|`200`|`-`|
|||`4,511`|`86,686`|`91,197`|`106,795`|
|**`CURRENT ASSETS`**||||||
|`Stocks`|`18`|`4,700`|`-`|`4,700`|`3,531`|
|`Debtors`|`19`|`12,888`|`-`|`12,888`|`5,251`|
|`Cash at bank`||`508,327`|`55,588`|`563,915`|`502,468`|
|||`525,915`|`55,588`|`581,503`|`511,250`|
|**`CREDITORS`**||||||
|`Amounts falling due within one year`|`20`|`(30,424)`|`-`|`(30,424)`|`(33,900)`|
|**`NET CURRENT ASSETS`**||`495,491`|`55,588`|`551,079`|`477,350`|
|**`TOTAL ASSETS LESS CURRENT LIABILITIES`**||`500,002`|`142,274`|`642,276`|`584,145`|
|**`PROVISIONS FOR LIABILITIES`**|`22`|`(110,958)`|`-`|`(110,958)`|`-`|
|**`NET ASSETS`**||`389,044`|`142,274`|`531,318`|`584,145`|
|**`FUNDS`**|`23`|||||
|`Unrestricted funds`||||`389,044`|`491,800`|
|`Restricted funds`||||`142,274`|`92,345`|
|**`TOTAL FUNDS`**||||`531,318`|`584,145`|
```
The financialstatementswere approvedby the Board of Trustees and authorisedfor issue on 23 September 2025 and were signed on its
behalf by:
```
```
J Fishburn - Trustee
```
```
The notes form part of these financial statements
```
```
Page 10
```
```
HULL 4 HEROES
```
## **`CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2024`**
|||`30.11.24`|`30.11.23`|
|---|---|---|---|
||`Notes`|`£`|`£`|
|**`Cash flows from operating activities`**||||
|`Cash generated from operations`|`1`|`153,966`|`67,758`|
|`Net cash provided by operating activities`||`153,966`|`67,758`|
|**`Cash flows from investing activities`**||||
|`Purchase of tangible fixed assets`||`(95,425)`|`(11,780)`|
|`Purchase of fixed asset investments`||`(200)`|`-`|
|`Interest received`||`3,106`|`2,244`|
|`Net cash used in investing activities`||`(92,519)`|`(9,536)`|
|||||
|**`Change in cash and cash equivalents in the`**||||
|**`reporting period`**||`61,447`|`58,222`|
|**`Cash and cash equivalents at the beginning of the`**||||
|**`reporting period`**||`502,468`|`444,246`|
|**`Cash and cash equivalents at the end of the`**||||
|**`reporting period`**||`563,915`|`502,468`|
```
The notes form part of these financial statements
```
```
Page 11
```
```
HULL 4 HEROES
```
## **`NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2024`**
## **`1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES`**
||`30.11.24`|`30.11.23`|
|---|---|---|
||`£`|`£`|
|**`Net (expenditure)/income for the reporting period (as per the Statement of`**|||
|**`Financial Activities)`**|`(52,827)`|`51,092`|
|**`Adjustments for:`**|||
|`Depreciation charges`|`3,610`|`4,811`|
|`Loss on disposal of fixed assets`|`107,613`|`-`|
|`Interest received`|`(3,106)`|`(2,244)`|
|`Increase in provision re donations`|`110,958`|`-`|
|`(Increase)/decrease in stocks`|`(1,169)`|`282`|
|`(Increase)/decrease in debtors`|`(7,637)`|`10,556`|
|`(Decrease)/increase in creditors`|`(3,476)`|`3,261`|
|**`Net cash provided by operations`**|`153,966`|`67,758`|
## **`2. ANALYSIS OF CHANGES IN NET FUNDS`**
|`At 1.12.23`
`Cash flow`
`At`
`£`
`£`
**`Net cash`**
`Cash at bank and in hand`
`502,468`
`61,447`
`502,468`
`61,447`
**`Total`**
`502,468`
`61,447`|`30.11.24`
`£`
`563,915`|
|---|---|
||`563,915`|
||`563,915`|
```
The notes form part of these financial statements
```
```
Page 12
```
```
HULL 4 HEROES
```
```
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
## **`1. PRESENTATION CURRENCY`**
```
The presentation currency of the financial statements is the Pound Sterling (£).
```
## **`2. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthe charity,whichis a publicbenefitentityunderFRS 102,havebeen preparedin accordance with
theCharitiesSORP(FRS102)'AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicable to
charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland(FRS102)(effective1 January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicable in
theUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthe historical
cost convention, with the exception of investments which are included at market value.
```
```
Thesestatementsareseparatefinancialstatementsandthereforepresentinformationaboutthecharityasan individual
undertaking and not as a group.
```
## **`Income`**
```
All income is 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`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharityto that
expenditure,it is probablethat a transferof economicbenefitswill be requiredin settlementand the amountof the obligation
canbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadings that
aggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingstheyhave been
allocated to activities on a basis consistent with the use of resources.
```
## **`Tangible fixed assets`**
```
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
```
|`Plant and machinery`|`-`|`25% on reducing balance`|
|---|---|---|
|`Fixtures and fittings`|`-`|`25% on reducing balance`|
|`Motor vehicles`|`-`|`25% on reducing balance`|
## **`Stocks`**
```
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
```
## **`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.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictionsarise 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.
```
## **`Pension costs and other post-retirement benefits`**
```
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity'spensionscheme are
charged to the Statement of Financial Activities in the period to which they relate.
```
## **`Donated goods and services`**
```
Goodsand servicesreceivedas donationsare accountedfor at the valueof the costthat Hull4 Heroeswouldhave incurred to
purchase the goods or services had they not been donated.
```
```
Page 13
```
```
HULL 4 HEROES
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2024`**
## **`3. DONATIONS AND LEGACIES`**
|**`DONATIONS AND LEGACIES`**|||
|---|---|---|
||`30.11.24`|`30.11.23`|
||`£`|`£`|
|`Donations`|`406,905`|`110,362`|
|`Grants`|`250,654`|`192,617`|
||`657,559`|`302,979`|
|`Grants received, included in the above, are as follows:`|||
||`30.11.24`|`30.11.23`|
||`£`|`£`|
|`Joseph Rank Benevolent Fund`|`750`|`750`|
|`Neighbourly B&Q Foundation`|`-`|`5,000`|
|`St James Place`|`-`|`25,000`|
|`Sporting Force`|`385`|`30,367`|
|`East Riding Community Fund`|`1,500`|`-`|
|`Hull and East Yorkshire Charitable Trust`|`3,200`|`2,000`|
|`National Lottery`|`33,135`|`24,000`|
|`BAE Systems`|`86,700`|`-`|
|`VPPP`|`5,000`|`-`|
|`Hull City Council`|`65,420`|`-`|
|`Armed Forces Covenant`|`7,144`|`20,703`|
|`Recycling Heroes`|`-`|`945`|
|`The Veterans' Foundation`|`45,000`|`53,752`|
|`Two Ridings Community`|`2,420`|`5,000`|
|`Northbank Forum for Voluntary Organisations CIO`|`-`|`25,100`|
||`250,654`|`192,617`|
|**`OTHER TRADING ACTIVITIES`**|||
||`30.11.24`|`30.11.23`|
||`£`|`£`|
|`Fundraising receipts`|`120,380`|`117,929`|
|`Merchandising receipts`|`15,053`|`17,190`|
|`Community Shop Income`|`30,113`|`-`|
||`165,546`|`135,119`|
## **`4. OTHER TRADING ACTIVITIES`**
```
Page 14
```
```
HULL 4 HEROES
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
## **`5. INVESTMENT INCOME`**
|`Bank interest received`
**`6.`**
**`RAISING FUNDS`**
**`Other trading activities`**
`Purchases`
`Costs associated with obtaining grant funding`
`Depreciation`
`Support costs`
**`7.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Veterans' Emergency Needs`
`Veterans' Village Development`
`On the Doorstep for Veterans Project`
`Suicide Prevention Project`
`Cost of Living Project`
`Sporting Force Project`
`Force for Change Project`
`Force for Change - Sport for All Project`
`Veterans' Community Hub`
`Sport for All Project`
`Awards for All Project`
`Foodbank assistance`|`30.11.24`
`30.11.23`
`£`
`£`
`3,106`
`2,244`
`30.11.24`
`30.11.23`
`£`
`£`
`72,049`
`49,611`
`1,800`
`10,826`
`3,610`
`4,811`
`162,190`
`106,884`
`239,649`
`172,132`
`Support`
`Direct`
`costs (see`
`Costs`
`note 8)`
`Totals`
`£`
`£`
`£`
`7,025`
`-`
`7,025`
`107,613`
`-`
`107,613`
`7,809`
`15,250`
`23,059`
`2,689`
`1,269`
`3,958`
`71,666`
`6,040`
`77,706`
`-`
`15,234`
`15,234`
`-`
`11,815`
`11,815`
`-`
`1,776`
`1,776`
`19,681`
`55,984`
`75,665`
`1,785`
`-`
`1,785`
`1,753`
`-`
`1,753`
`312,000`
`-`
`312,000`
`532,021`
`107,368`
`639,389`|`30.11.24`
`30.11.23`
`£`
`£`
`3,106`
`2,244`
`30.11.24`
`30.11.23`
`£`
`£`
`72,049`
`49,611`
`1,800`
`10,826`
`3,610`
`4,811`
`162,190`
`106,884`
`239,649`
`172,132`
`Support`
`Direct`
`costs (see`
`Costs`
`note 8)`
`Totals`
`£`
`£`
`£`
`7,025`
`-`
`7,025`
`107,613`
`-`
`107,613`
`7,809`
`15,250`
`23,059`
`2,689`
`1,269`
`3,958`
`71,666`
`6,040`
`77,706`
`-`
`15,234`
`15,234`
`-`
`11,815`
`11,815`
`-`
`1,776`
`1,776`
`19,681`
`55,984`
`75,665`
`1,785`
`-`
`1,785`
`1,753`
`-`
`1,753`
`312,000`
`-`
`312,000`
`532,021`
`107,368`
`639,389`|
|---|---|---|
|||`172,132`|
|||`Totals`
`£`
`7,025`
`107,613`
`23,059`
`3,958`
`77,706`
`15,234`
`11,815`
`1,776`
`75,665`
`1,785`
`1,753`
`312,000`|
|||`639,389`|
```
Page 15
```
```
HULL 4 HEROES
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2024`**
## **`8. SUPPORT COSTS`**
|`Other trading activities`
`On the Doorstep for Veterans Project`
`Suicide Prevention Project`
`Cost of Living Project`
`Sporting Force Project`
`Force for Change Project`
`Force for Change - Sport for All Project`
`Veterans' Community Hub`
`Support costs, included in the above, are`
`Wages`
`Social security`
`Pensions`
`Rent and fees`
`Insurance`
`Motor Expenses`
`Telephone and Internet`
`Postage, stationery and advert`
`Volunteer refreshments & exps`
`Office Costs`
`Bank charges`
`Accountancy and legal fees`
`Wages`
`Social security`
`Pensions`
`Rent and fees`
`Insurance`
`Motor Expenses`
`Telephone and Internet`
`Carried forward`|`Governance`
`Management`
`Finance`
`costs`
`Totals`
`£`
`£`
`£`
`£`
`146,675`
`1,364`
`14,151`
`162,190`
`15,250`
`-`
`-`
`15,250`
`1,269`
`-`
`-`
`1,269`
`6,040`
`-`
`-`
`6,040`
`15,234`
`-`
`-`
`15,234`
`11,815`
`-`
`-`
`11,815`
`1,776`
`-`
`-`
`1,776`
`55,984`
`-`
`-`
`55,984`
`254,043`
`1,364`
`14,151`
`269,558`
`as follows:`
`On the`
`Doorstep`
`Other`
`for`
`Suicide`
`Cost of`
`Sporting`
`trading`
`Veterans`
`Prevention`
`Living`
`Force`
`activities`
`Project`
`Project`
`Project`
`Project`
`£`
`£`
`£`
`£`
`£`
`57,867`
`15,000`
`1,269`
`1,920`
`15,234`
`7,556`
`-`
`-`
`-`
`-`
`2,115`
`-`
`-`
`-`
`-`
`11,485`
`-`
`-`
`1,000`
`-`
`2,351`
`-`
`-`
`-`
`-`
`42,223`
`-`
`-`
`-`
`-`
`5,990`
`-`
`-`
`-`
`-`
`5,457`
`-`
`-`
`-`
`-`
`1,313`
`250`
`-`
`3,120`
`-`
`10,318`
`-`
`-`
`-`
`-`
`1,364`
`-`
`-`
`-`
`-`
`14,151`
`-`
`-`
`-`
`-`
`162,190`
`15,250`
`1,269`
`6,040`
`15,234`
`30.11.24`
`30.11.23`
`Force for`
`Change -`
`Force for`
`Sport for`
`Veterans'`
`Change`
`All`
`Community`
`Total`
`Total`
`Project`
`Project`
`Hub`
`activities`
`activities`
`£`
`£`
`£`
`£`
`£`
`8,670`
`1,724`
`45,900`
`147,584`
`137,756`
`-`
`-`
`-`
`7,556`
`6,606`
`-`
`-`
`-`
`2,115`
`4,889`
`-`
`-`
`10,000`
`22,485`
`23,057`
`-`
`-`
`-`
`2,351`
`875`
`-`
`-`
`-`
`42,223`
`4,645`
`964`
`-`
`-`
`6,954`
`8,998`
`9,634`
`1,724`
`55,900`
`231,268`
`186,826`|`Totals`
`£`
`162,190`
`15,250`
`1,269`
`6,040`
`15,234`
`11,815`
`1,776`
`55,984`|
|---|---|---|
|||`269,558`|
|||`Sporting`
`Force`
`Project`
`£`
`15,234`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|
|||`15,234`|
|||`186,826`|
```
Page 16
```
```
HULL 4 HEROES
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
## **`8. SUPPORT COSTS - continued`**
|**`SUPPORT COSTS - continued`**||||
|---|---|---|---|
|`Brought forward`
`Postage, stationery and advert`
`Volunteer refreshments & exps`
`Office Costs`
`Bank charges`
`Accountancy and legal fees`|`Force for`
`Change`
`Project`
`£`
`9,634`
`-`
`2,149`
`32`
`-`
`-`
`11,815`|`30.11.24`
`30.11.23`
`Force for`
`Change -`
`Sport for`
`Veterans'`
`All`
`Community`
`Total`
`Total`
`Project`
`Hub`
`activities`
`activities`
`£`
`£`
`£`
`£`
`1,724`
`55,900`
`231,268`
`186,826`
`-`
`-`
`5,457`
`11,833`
`52`
`84`
`6,968`
`4,396`
`-`
`-`
`10,350`
`33,308`
`-`
`-`
`1,364`
`455`
`-`
`-`
`14,151`
`13,488`
`1,776`
`55,984`
`269,558`
`250,306`||
||||`250,306`|
## **`9. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended30November2024norfortheyear ended
30 November 2023.
```
## **`Trustees' expenses`**
```
There were no trustees' expenses paid for the year ended 30 November 2024 nor for the year ended 30 November 2023.
```
## **`10. STAFF COSTS`**
||`30.11.24`|`30.11.23`|
|---|---|---|
||`£`|`£`|
|`Wages and salaries`|`147,584`|`137,756`|
|`Social security costs`|`7,556`|`6,606`|
|`Other pension costs`|`2,115`|`4,889`|
||`157,255`|`149,251`|
|`The average monthly number of employees during the year was as follows:`|||
||`30.11.24`|`30.11.23`|
|`Administration & management`|`6`|`7`|
```
No employees received emoluments in excess of £60,000.
```
```
Page 17
```
```
HULL 4 HEROES
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2024`**
## **`11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|`Unrestricted`
`Restricted`
`funds`
`fund`
`£`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`110,362`
`192,617`
`Other trading activities`
`135,119`
`-`
`Investment income`
`2,244`
`-`
**`Total`**
`247,725`
`192,617`
**`EXPENDITURE ON`**
`Raising funds`
`141,079`
`31,053`
**`Charitable activities`**
`New Office Costs`
`8,859`
`24,995`
`Veterans' Emergency Needs`
`-`
`13,610`
`Veterans' Village Development`
`7,977`
`-`
`Forces Together Project`
`-`
`9,284`
`On the Doorstep for Veterans Project`
`-`
`41,717`
`Out & About for Veterans Project`
`-`
`10,547`
`Suicide Prevention Project`
`-`
`21,630`
`Veterans' Allotments Project`
`-`
`12,340`
`Cost of Living Project`
`-`
`5,001`
`Eat Well For Less Project`
`-`
`2,000`
`NBF Food Collaborative Project`
`-`
`25,100`
`Sporting Force Project`
`(673)`
`9,601`
`Force for Change Project`
`-`
`20,120`
`Force for Change - Sport for All Project`
`-`
`5,010`
**`Total`**
`157,242`
`232,008`
**`NET INCOME/(EXPENDITURE)`**
`90,483`
`(39,391)`
**`Transfers between funds`**
`43`
`(43)`
**`Net movement in funds`**
`90,526`
`(39,434)`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`401,274`
`131,779`
**`TOTAL FUNDS CARRIED FORWARD`**
`491,800`
`92,345`|`Total`
`funds`
`£`
`302,979`
`135,119`
`2,244`|
|---|---|
||`440,342`|
||`172,132`
`33,854`
`13,610`
`7,977`
`9,284`
`41,717`
`10,547`
`21,630`
`12,340`
`5,001`
`2,000`
`25,100`
`8,928`
`20,120`
`5,010`|
||`389,250`|
||`51,092`
`-`|
||`51,092`
`533,053`|
||`584,145`|
```
Page 18
```
```
HULL 4 HEROES
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
## **`12. STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT`**
```
The Statement of Financial Activities includes a combined Income and Expenditure Account.
```
## **`13. INDIVIDUAL MATERIAL RESTRICTED FUNDS`**
```
During the year the following individual material funds were received:
```
|||**`Received in`**|**`Remaining`**|**`Received in`**|**`Remaining`**|
|---|---|---|---|---|---|
|||**`the year to`**|**`unspent at`**|**`the year to`**|**`unspent at`**|
|**`Project`**|**`Grant from`**|**`30.11.24`**|**`30.11.24`**|**`30.11.23`**|**`30.11.23`**|
|||`£`|`£`|`£`|`£`|
|`On the Doorstep`|`National Lottery`|`18,500`|`7,836`|`18,500`|`12,235`|
|`Community Hub`|`Hull City Council`|`57,900`|`-`|`30,000`|`-`|
|`Plane Street House`|`BAE Systems`|`86,700`|`6,528`|`-`|`-`|
|`Health and Wellbeing`|`Veterans'`|||||
|`Officer Funding`|`Foundation`|`20,000`|`6,667`|`18,752`|`16,713`|
||`Veterans'`|||||
|`CEO Salary Funding`|`Foundation`|`25,000`|`14,583`|`20,000`|`11,667`|
## **`14. DESIGNATED FUNDS`**
```
At 30 November 2024 the charity held £91,566 in designated funds (2023 £235,912).
Of these £30,024 are held as a contingency fund.
```
```
Aftertheyearend,theVeterans'Villageprojectwasconsideredunfeasibleduetoincreasingdevelopmentcosts. Therefore
coststotalling£107,613relatingtoarchitectandplanningfeeshavebeenwrittenoffandaprovisionof£86,732for the
potential return of designated donations received has been made in the accounts for the year ended 30 November 2024.
```
```
The designated funds remaining of £61,542 will be used towards housing projects in the future.
```
## **`15.`**
## **`INDEPENDENT EXAMINER REMUNERATION`**
||**`30.11.24`**|**`30.11.23`**|
|---|---|---|
|`Remuneration receivable by the charity's independent examiner for the preparation`|||
|`and examination of the accounts.`|`6,600`|`9,600`|
|`Remuneration receivable by the charity's independent examiner in respect of any`|||
|`other financial services rendered to the charity, such as consultancy, financial advice or`|||
|`accountancy services.`|`1,260`|`288`|
```
Page 19
```
```
HULL 4 HEROES
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2024`**
## **`16. TANGIBLE FIXED ASSETS`**
|**`COST`**
`At 1 December 2023`
`Additions`
`Disposals`
`At 30 November 2024`
**`DEPRECIATION`**
`At 1 December 2023`
`Charge for year`
`At 30 November 2024`
**`NET BOOK VALUE`**
`At 30 November 2024`
`At 30 November 2023`|`Land and`
`Plant and`
`Buildings`
`machinery`
`£`
`£`
`92,360`
`8,921`
`95,425`
`-`
`(107,613)`
`-`
`80,172`
`8,921`
`-`
`4,172`
`-`
`1,187`
`-`
`5,359`
`80,172`
`3,562`
`92,360`
`4,749`|`Fixtures`
`and`
`fittings`
`£`
`3,065`
`-`
`-`
`3,065`
`2,065`
`251`
`2,316`
`749`
`1,000`|`Motor`
`vehicles`
`£`
`21,960`
`-`
`-`
`21,960`
`13,274`
`2,172`
`15,446`
`6,514`
`8,686`|`Totals`
`£`
`126,306`
`95,425`
`(107,613)`
`114,118`
`19,511`
`3,610`
`23,121`
`90,997`
`106,795`|
|---|---|---|---|---|
```
Theamountsinrespectoflandandbuildingsdisposedofduringtheyearrepresentedcertaincostsinrespectofthe design,
planningandassociatedpreparatoryworkfortheVeteransVillagepropertydevelopment,nowwrittenoffduetothis project
becoming unfeasible.
```
```
The Charity are now pursuing other projectsto help veteransand the amountsin respect of land and buildingsat the end of the
year are the purchase of a house and associated renovation costs.
```
## **`17. FIXED ASSET INVESTMENTS`**
|**`FIXED ASSET INVESTMENTS`**||
|---|---|
||`Shares in`|
||`group`|
||`undertakings`|
||`£`|
|**`MARKET VALUE`**||
|`Additions`|`200`|
|**`NET BOOK VALUE`**||
|`At 30 November 2024`|`200`|
|`At 30 November 2023`|`-`|
```
There were no investment assets outside the UK.
```
```
Hull 4 Heroes owns 100% of the share capital of the following subsidiary companies, incorporated during the year:
```
```
Hull4HeroesDevelopmentsLimitedwasincorporatedon17April2024withsharecapitalof100Ordinarysharesof£1 each.
The Registered Office of this company is F27 Upper Deck, Princes Quay, Hull, England, HU1 2PQ.
```
```
Hull 4 HeroesVeterans'VillageOperationsLimitedwas incorporatedon 15 May 2024 with share capitalof 100 Ordinary shares
of £1 each. The Registered Office of this company is F27 Upper Deck, Princes Quay, Hull, England, HU1 2PQ.
```
```
Page 20
```
```
HULL 4 HEROES
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2024`**
## **`17. FIXED ASSET INVESTMENTS - continued`**
```
The subsidiary companies have been dormant since incorporation.
```
|**`18.`**|**`STOCKS`**|||
|---|---|---|---|
|||`30.11.24`|`30.11.23`|
|||`£`|`£`|
||`Shop Stocks for resale`|`4,700`|`3,531`|
|**`19.`**|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
|||`30.11.24`|`30.11.23`|
|||`£`|`£`|
||`Trade debtors`|`9,325`|`1,988`|
||`Other debtors`|`-`|`1,452`|
||`Prepayments`|`3,563`|`1,811`|
|||`12,888`|`5,251`|
|**`20.`**|**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
|||`30.11.24`|`30.11.23`|
|||`£`|`£`|
||`Trade creditors`|`3,336`|`6,357`|
||`Social security and other taxes`|`177`|`177`|
||`Accrued expenses`|`26,911`|`27,366`|
|||`30,424`|`33,900`|
|**`21.`**|**`LEASING AGREEMENTS`**|||
||`Minimum lease payments under non-cancellable operating leases fall due as follows:`|||
|||`30.11.24`|`30.11.23`|
|||`£`|`£`|
||`Within one year`|`19,200`|`19,200`|
||`Between one and five years`|`38,400`|`57,600`|
|||`57,600`|`76,800`|
```
Lease payments recognised as an expense in the year total £19,200 (2023 £19,200).
```
```
Page 21
```
```
HULL 4 HEROES
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2024`**
|**`22.`**
**`PROVISIONS FOR LIABILITIES`**
`Provision re donations`
**`23.`**
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
`Designated Fund`
**`Restricted funds`**
`Restricted`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are as follows:`
**`Unrestricted funds`**
`General fund`
`Designated Fund`
**`Restricted funds`**
`Restricted`
**`TOTAL FUNDS`**|`30.11.24`
`30.11.23`
`£`
`£`
`110,958`
`-`
`Net`
`At`
`movement`
`At`
`1.12.23`
`in funds`
`30.11.24`
`£`
`£`
`£`
`255,888`
`41,590`
`297,478`
`235,912`
`(144,346)`
`91,566`
`491,800`
`(102,756)`
`389,044`
`92,345`
`49,929`
`142,274`
`584,145`
`(52,827)`
`531,318`
`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`617,290`
`(575,700)`
`41,590`
`(36,733)`
`(107,613)`
`(144,346)`
`580,557`
`(683,313)`
`(102,756)`
`245,654`
`(195,725)`
`49,929`
`826,211`
`(879,038)`
`(52,827)`|
|---|---|
```
Page 22
```
```
HULL 4 HEROES
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
## **`23. MOVEMENT IN FUNDS - continued`**
## **`Comparatives for movement in funds`**
|||`Net`|`Transfers`||
|---|---|---|---|---|
||`At`|`movement`|`between`|`At`|
||`1.12.22`|`in funds`|`funds`|`30.11.23`|
||`£`|`£`|`£`|`£`|
|**`Unrestricted funds`**|||||
|`General fund`|`233,942`|`90,483`|`(68,537)`|`255,888`|
|`Designated Fund`|`167,332`|`-`|`68,580`|`235,912`|
||`401,274`|`90,483`|`43`|`491,800`|
|**`Restricted funds`**|||||
|`Restricted`|`131,779`|`(39,391)`|`(43)`|`92,345`|
|**`TOTAL FUNDS`**|`533,053`|`51,092`|`-`|`584,145`|
|`Comparative net movement in funds, included in the above are as follows:`|||||
|||`Incoming`|`Resources`|`Movement`|
|||`resources`|`expended`|`in funds`|
|||`£`|`£`|`£`|
|**`Unrestricted funds`**|||||
|`General fund`||`247,725`|`(157,242)`|`90,483`|
|**`Restricted funds`**|||||
|`Restricted`||`192,617`|`(232,008)`|`(39,391)`|
|**`TOTAL FUNDS`**||`440,342`|`(389,250)`|`51,092`|
|`A current year 12 months and prior year 12 months combined position is as`||`follows:`|||
|||`Net`|`Transfers`||
||`At`|`movement`|`between`|`At`|
||`1.12.22`|`in funds`|`funds`|`30.11.24`|
||`£`|`£`|`£`|`£`|
|**`Unrestricted funds`**|||||
|`General fund`|`233,942`|`132,073`|`(68,537)`|`297,478`|
|`Designated Fund`|`167,332`|`(144,346)`|`68,580`|`91,566`|
||`401,274`|`(12,273)`|`43`|`389,044`|
|**`Restricted funds`**|||||
|`Restricted`|`131,779`|`10,538`|`(43)`|`142,274`|
|**`TOTAL FUNDS`**|`533,053`|`(1,735)`|`-`|`531,318`|
```
Page 23
```
```
HULL 4 HEROES
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024
```
## **`23. MOVEMENT IN FUNDS - continued`**
```
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
```
||`Incoming`|`Resources`|`Movement`|
|---|---|---|---|
||`resources`|`expended`|`in funds`|
||`£`|`£`|`£`|
|**`Unrestricted funds`**||||
|`General fund`|`865,015`|`(732,942)`|`132,073`|
|`Designated Fund`|`(36,733)`|`(107,613)`|`(144,346)`|
||`828,282`|`(840,555)`|`(12,273)`|
|**`Restricted funds`**||||
|`Restricted`|`438,271`|`(427,733)`|`10,538`|
|**`TOTAL FUNDS`**|`1,266,553`|`(1,268,288)`|`(1,735)`|
## **`24. OTHER FINANCIAL COMMITMENTS`**
```
Aftertheyearend,Hull4HeroesenteredintoaleaseagreementfortheCommunityShopforthefiveyearscommencing 7
February 2025 at £12,000 per annum. The total commitment for this lease is £60,000.
```
## **`25. RELATED PARTY DISCLOSURES`**
```
There were no related party transactions for the year ended 30 November 2024.
```
```
Page 24
```