**The Huracan Foundation** **The Huracan Foundation** **Report and Financial Statements for Year Ended 31st October 2023** 1 **The Huracan Foundation** ## **The Huracan Foundation** Report and Financial Statements for the year ended 31 October 2023 |**Contents**|**Page**| |---|---| |Legal and administrative information|3| |Trustees’ report|4| |Independent examiner’s report to the Trustees|6| |Statement of receipts and payments|7| |Statement of balances|8| |Notes to the financial statements|9| 2 **The Huracan Foundation** ## **Legal and administrative information** ## **Trustees** Ian Milligan Francis Wathen Dr Hayley Barton Henry May Andy Smith Samuel Fowler (appointed 5 June 2023) Martha Paola Ponciano Hernandez (appointed 5 June 2023) Barrie Hawker (appointed 5 June 2023) Florence Lloyd-Hughes (appointed 5 June 2023) Tom Pedersen-Smith (appointed 5 June 2023) Chris Gibbons (appointed 5 June 2023) ## **Administrative Address** 68a Kingswood Road London SW2 4JJ ## **Bank** RBS 6 St Andrew Square Edinburgh EH2 2YB ## **Registered Charity Number** 1170153 3 **The Huracan Foundation** **Trustees’ Report** The trustees have the pleasure of presenting their annual report and financial statements for the year ended 31 October 2023. ## **Objectives** The charitable objectives of the Huracan Foundation are as follows: - The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life. - Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. - Financial support for international charitable organisations to deliver projects using football as a tool for motivation and learning. ## **Meeting the objectives** The charity raised funds through a combination of 3[rd] party grant applications, its own internal fundraising (events, monthly donors) and merchandise sales. Every year the charity runs a thorough application process to select its project leaders, who will deliver football projects that comply with the charity’s stated objectives. The trust supplies financial support and training to the project leaders, and monitors their progress through formal half year presentations to the Trustees and informal check ins with the Charity’s part time members of staff. ## **Trustees** The trustees, all of whom served during the year unless otherwise specified, have been disclosed on page 2 ## **Structure, governance and management** The constitution of the Charitable Incorporated Organisation was dated 28 February 2016, and the CIO was registered as a CIO on 14 November 2016. The Huracan Foundation is run by a group of trustees who meet around once a month to coordinate the activities of the CIO. The trustees have a wide range of experience that enable Huracan to execute its objectives, including project management, teaching, financial management and impact measurement. This also complies with the CIO’s constitution, which stipulates Trustees appointed must have the skills, knowledge and experience to enable its effective administration. ## **Achievements and performance** In FY 2023, Huracan supported 10 project leaders. across 9 projects. 6 of these were first year leaders based in Mexico (3 including 2 co leaders), Nigeria (2) and Uganda. The other 4 were second year leaders based in India and Uganda (3). The project leaders supported 1,866 children in total through their projects, with a 47% and 53% mix of girls and boys. A total of 1,871 training sessions, 339 football matches and 361 non - football sessions were delivered with 125 volunteers engaged. Late October 2023 saw 30 people gather in Buenos Aries for our Kick Off Training Week for new Project Leaders. This included 15 new, current and ex leaders sharing learnings in a stimulating environment as part of The Huracan Foundation's 10th anniversary. 4 **The Huracan Foundation** ## **Financial Overview** The financial statements submitted here for 2023 show the incoming resources of the trust to be £62,038, with annual expenditure totalling £71,056. ## **Reserves Policy** Due to the annual fluctuations in income, it is part of Huracan’s policy to retain a significant balance at year end to ensure that project can be supported even when donations, events and grant income is lower than expected. At the financial year end Huracan held a balance of £27,055, which will allow the Foundation to continue delivering against it’s objectives in FY24. ## **Trustee’s responsibilities** The trustees are responsible for producing the annual report and financial statements in accordance with applicable Law and United Kingdom generally accepted accounting practice. Charity law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity, and its results for the year. In preparing these accounts, the trustees are required to select appropriate accounting policies and apply them consistently and make judgements that are reasonable and prudent. The trustees do not hold any funds or act as custodians of funds for other charities. Approved by the Trustees on 26 July 2024 and signed by: Ian Milligan, Trustee and Chairman 5 **The Huracan Foundation** ## **Independent examiner’s report to the Trustees** I report on the financial statements of the charity for the year ended 31 October 2023 which are set out on pages 7 to 8. ## **Respective responsibilities of trustees and examiner** As the charity’s Trustees you are responsible for the preparation of the financial statements; you consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is needed. It is my responsibility to examine the financial statements under section 145 of the Act and, and to state, on the basis of procedures specified in the General Directions given by the Charities Commissioners under section 145 (b) of the 2011 Act, whether particular matters have come to my attention. ## **Basis of independent examiners’ report** My examination was carried out in accordance with the General Directions given by the Charity Commissioners and regulation 11 of the Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent examiners’ statement** In connection with my examination, no matter has come to my attention: 1) which gives me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with section 130 of the 2011 Act, section 44 (1)(a) of the 2005 Act and regulation 4 of the Regulations; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act, section 44 (1)(b) of the 2005 Act and regulation 8 of the Regulations. have not been met; or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Freddie Light, ACA Chartered Accountant 26 July 2024 6 **The Huracan Foundation** ## **Statement of receipts and payments** Year to 31 October 2023 |ar to 31 October 2023||||| |---|---|---|---|---| ||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Year Ended**
**31 October**
**2023**|**Year Ended 31**
**October 2022**| |**Income**||||| |Donations|38,142|20,000|58,142|32,239| |Merchandising|3,896|-|3,896|772| |**Total incoming**||||| |**resources**|42,038|20,000|62,038|33,011| |**Expenditure**||||| |Projects|(2,386)|(20,000)|(22,386)|(28,714)| |Expenses|(48,670)||(48,670)|(22,213)| |Total resources||||| |expended|(51,056)|(20,000)|(71,056)|(50,927)| |**Net Movement in**||||| |**Funds**||||| |Funds at the start of||||| |the year|36,072|-|36,072|53,988| |Funds at the end of the||||| |year|27,055|-|27,055|36,072| The notes on page 9 form part of these financial statements. All activities are continuing. There are no gains or losses other than those recognised through the statement of receipts and payments set out above. 7 **The Huracan Foundation** ## **Statement of balances** Year ended 31 October 2023 |**Current Assets**
Bank balances and cash
Total current assets
**Creditors: amounts falling due within one**
**year**
**Net current assets**
Total assets less current
liabilities
Represented by:
**Restricted funds**
**Unrestricted funds**
Total funds|**Year Ended**
**31 October**
**2023**
**Year Ended**
**31 October**
**2022**
27,054
36,072
27,054
36,072
-
-
27,054
36,072| |---|---| ||27,054
36,072
-
-
27,055
36,072| ||27,055
36,072| Approved by the Trustees on 26 July 2024 and signed by: Francis Wathen, Trustee and Treasurer & Ian Milligan, Trustee & Chairman 8 **The Huracan Foundation** ## **Notes to the financial statements** ## **Principal accounting policies** - a) Accounting conversion and basis of preparation These accounts have been prepared under the historical cost convention, and in accordance with applicable accounting standards. The CIO has adopted as far as practicable the updated Statement of Recommended Practice for charities issued in 2005 and the Charities Act. The financial statements of the Huracan Foundation for the year ended 31 October 2021 comprise the statement of receipts and payments and the statement of balances. b) Incoming resources and resources expended These accounts have been prepared on a receipt and payment basis and reflect all incoming resources and resources expended over the CIO’s financial year. - c) Restricted funds Restricted funds can only be used for restricted purposes within the objectives of the CIO. Restrictions arise when specified by the donor or when funds are raised for a particular purpose. - d) Unrestricted funds Unrestricted funds are those funds which can be used in accordance with the charitable objectives of the Trust at the discretion of the Trustees. 9