THE HUBB FOUNDATION ILIMITED BY GUARANTEE) AUDITED REPORT AND FINANCIAL STATEMENTS 31 DECEMBER 2023 C(*mpary Registratk)n Nurnb&r.' 11707416 R4istwed Charity Number: 1186026
THE HUBB FOUNDATION CONTENTS LEGAL AND ADMINISTRATIVE INFORMATION TRUSTEES, REPORT STATEMENT OF TRUSTEES, RESPONS181LrriES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES 7-10 STATEMENT OF FINANCIAL ACTIVITIES 11 BALANCE SHEET 12 STATEMENT OF CASH FLOWS 13 NOTES TO THE FINANCIAL sTATEMEs 1&23
THE HUBB FOUNDATION LEGAL AND ADMINISTrATIVE INFORMATION REGISTEREO OFFICE CIO Synectics Solubcw Linited H8mil Road Bufslem Stoke-on-Trent United lQngdom ST6 11 TRUSTEES Mrs CA Shanahan OBE Mr DD O'Neill Mrs HJ Sa¢$ BANKERS Natwest Bank 75 HNJh Street Newcastle-under-Lyme StaffdshIre ST5 1PN AUDITORS Dean Statham 29 King Street N8wcasU8 undw Lyme Stsffordshire ST5 1ER REGISTERED COMPANY NUMBER 11707416 REGISTERED CHARITY NUMBER 1186026 Page 1
THE HUBB FOUNDATION TRUSTEES. REPORT Th8 Trustees wesent their rert and the audited financial statements ofthe charityforthe year ended 31 Decernber 2023. The trustees have adopted the prowsions of the Ststernenl of Recommended PrliCe ISORPI"Accounliry and Rerx)rting by chwi1. i) th8 8nnual r8POrt and financial stalèrnents ol the charity. Thè financial stslements have b8an prepared in accordan¢8 with the accounting poltcies sel out in the notes lo the accounts and comply with the charity's goveming docwnenl. Ihe Chwities Acl 2011 and Accounting and Reporting by Charitie5: Statement of Recommended Practice applicable lo tharities preparing their accounts in accordance wih the Financial Reporting Standard applicable in the UK and Republic of Ir8land IFRS102) published in October 2019. STRUCTUR& GOVERNANCE AND MANAGEM Gov•ming Document organisation is a charitable company Smited by guarantso. Thg conyany vrds estsblished und8r a Memorandum of Association, which established the objects and powers of the charitable company and is governed under ils Articles of Associalion. dated 3 Decgmber 2018. In the event ol company being wound up. members are required to conthl>ute an arnOt noleXeding £1. R8crultmenl andAppolntmenf of Trustees In accordance with the Articles of A55¢xialk)n. tho Iwstees. who are referrèd to as M&mb8rs are apwjinlod Members when they become Direclors. Any person who is willing lo be a Director. and who is pemiltsd by to (k) so. may be appointed to be B Director by resolukn'on of the Directors. The charity maintains a register of Mewnbers, a1 any person ceasing to be a Membèr is removed from th8 register. A Member shall cease to be a member if fv (a} cease to be a ditor, or Ib) di8. Trustee Inductlon and Tralnlng New Iruslees ar8 suprAied wth the Charity Commlssion PUtiOn. The Essential Tru51ee. IM)at You Need to Know., along with the Memorandum and Articles and the klest financial statements. Rtsk Management Thg tnJsl8es have consvjered in delail Ihe risks facing the charity, tre controls in pla¢8 to miligale those risk5 and action plans to deal th Ihose araas where controls coukj be enhanced. The trustees believe that they h8Vg apprt)priale controls in place. commensurate with the size of the organisation and Ihelr cost effectiveness, to miltgale the risks idenlrfied. The trustees revEw and update the assessment of th8 risks facing the charity. tggelher wilh an assessment of the controls on a regular basis. Oryanlsatsonal Structur¢ Undor the Athles of Asso¢iatk)n, the business of the Trust is man4ed by Ihg Membershlp. M88tings can be called al any lime by any rnember of the Memlyership. No business shan be transacted unloss a quowm is present. A Member is enlille(I lo appoint another person as his proxy. in acc(xd8nce with the kL to exercise all or any of his righls lo attend and lo speak and vole at a meeting of the charity. Pag8 2
THE HUBB FOUNDATION TRUSTEES, REPORT OBJECTIVES AND ACTivmES FOR THE PUBLIC BENEF Charltable Objectives The charity's objectives are restricted only for the public b8n8fft". 10 th? rpliel of youThJ peopte and their families in need because ol yovlh. finalat hardship (K other disadvantag& sp8cffically but not exclusively through their leisure time activits and developing Iheir physical, mental and spiritual capabilities so th81 they may grow to fully malurity as individuJs and fulty contributing members of society. Publlc Benefit The trustees confirm that they have referred lo the guidance conted in the Charity Commlgslon's general guidan on public benefrt when reviewng the Trust's alw6 and objectives and in Flanning fulure activiti8s and setting the granl making policy for the year. ACHIEVEMENTS AND PERFORMANCE The Hubb Foundation's Gor& activity is to support chiklren and their [lIS during school holid8ys with fun, free artivilies. and fethy. The Hubb Foundation I(USed on canvxsing a strategy that would put us at th8 forèfront as lead CO•ordinalor of the Departrnent for Education IOIE) Holhlay Acliwlies and Food IHAFI programme and the current fijnding for this was secured in 2021 and runs until January 2025. With HAF fur1ng Ihe delivgry increased in ale in 2022 and further inueased 2023. Th8 Hubb FoundatIc in partnership wth Ihe city counul ddivered the fc41owing outme$ for thildren and young people Ytho attended the HAF provisKffj: Eat more h88tthily ov8r the schoolholidays. B6 more aclive during rhe sch1 holidays. Take part in engaging and eniiching aGtwities [Whh supp(rt the dgv8lopment ofres1lien. Gharacter and wellbeing along with their wideraducational attainmenl). Be safe and not to be soGi81ty isolated. Have a grealer knowledge olhealth and nutriti(Jn. 50 MO engaged with school and other local seNices 8nd have greater knowledge and awareness of all holiday provision. Our programme comprises of a wKle range of sp(Kts and physical actNities that challenge iThJiMdual and team endeavours. creative tasks such as arts and crats and wr wde rarMJe of enrichrnent activities. Examples of these include.. Multi-5p(Kts. Arts & Crafts, Bush-cfaft, Animal Handling. D J Workshops, STEM 8CtNilies. Dan, Singing. Musical Thealre. Magic. CO1n9. Food Education. Climbing wa115, Trampolining. Music ProYuctKJn. Illustration, Can(iNJ, Visits lo th8 Béach Wldlife Parks. Stables and Fami Animals. During 2023 we were able lo cTrordinate a total 011.212 Holiday Activty arhj F¢)CJ sessions over the Eastei, Summer and Christmas sthool holidays 8.134 children. 247 HAF sessions were delNered during the 8-day East8r hrAiday. in 46diff8r8nt venues across Stoke. on-Trent. There wère also 15 exlemal trips lo local leisu venues. and we provided 8,475 meals. We distributed donated Eater eg9s lo every participating child and joined f(ces wilh fellow providers Bee AclNe in Hanley Park for a magical Easler Egg hunt on Easter Sunday. 268 SEND participants took part in dlted sessions contributing to a total of 2.431 attendees. 798 sessions ovèr th8 sixweekswere defN8red over 96 venues and Mp b¢al)n$ and with 122 differènt partners and a lolal Pfovision of 40.018 meaL%. 29.886 opportunities and 3,663 att8ndees. In addition lo the core spor1s activities Creative and enrichment activilies that are provided at each s8ssion. new ones were included in the programme lor the summw 2023 in¢lJdirrfJ six family festivals. Pag8 3
THE HUBB FOUNDATION TRUSTEES. REPORT The Christmas HAF offer Ihis year provided a huge 6.332 opP(thneS and 187 sesslons whlch included on site school d91ivery, onsite community ddivery, trips, fd and actNity hampers. Fc Christmas, we saw 1.978 children at face-to-face sessi5 in schods and comrnunity venues and also dislribute(l activity packs. In lots1 4.561 children attended sessK)ns or enjoyed an ouling to the Pantomime. The Hubb Foundation funded 1.620 food hawnpBrs whith We made up and distributed through one of our food partners. Donated Chrthia$ gifts and se[e¢tw toxes were also distributed through local partnerships and volunteers. Our activity providers are a group of qualified professiona15 who a integral partners of our delivery pwramrng offering a wide range of activili8s for childrn and y¢W pP]e. TY le8d or wllaborale at many ol the activity sessions and are active in the same scknls duringlerm time. ensuring conlinuity. Communty voluntary sector providers arg integral to their own knal communities and are vital to 8ngaging childr8n and young people In the local area. In March 2023. The Hubb Foundation, as part of the HAF programme management. purchased a 2 ye8r license with Coordinate Sports 10 5Up[ the managemenL marketing and data Collecrn and collation for the programme delivery. The earty version of this was ploted during the Easlgr holiday and showed great promise. Provid8rs are undergoing training as afe parents leachers who will In the future pre book children onlo sessions. A benefit of the bwkFry portal alk)ws us lo manage takg up of boDkings as well as aulomabcally eApluring analysi% and data for cmjr reporting wrposes. The Hubb Foundation were instrument81 in organising Ihe Opening Schwl Facilities, a three-year Departmenl for Education funded programme to support schools to increase of school access lo their facilities and increase communty participation. The Hubb Fo(mdation recwiled 19 schools onlo the prog¥ammes. specrfically larg8ting stUdts from deprived b8d<grounds, with an additional 14 schools sel to loui over the next 2 years. Th8 Hubb Pol project established in 2020 continues to sUpprt the community. We were able lo distribute 1.403 slow cookers to disadvantsged households working through ourschx)l and community leads. The delivery forrnat redUd to a 6.week pryramm8. With a vouther-based system of ¢J)vering the ingre(Jienis. With each slow cooker degned to feed 4 people Imth 6 we8k5 of fo(xJ vouchers thi5 h1 the potential lo deliver 33.672 meals. Stoke-on-Trenl City Ctyjncil awarded ihe charity a grant followng an applratwi for ¢apitsl fun¢ts to provide equIent to communty venues that support communty er0Ment and sustainability. The equipment included sports aclivator kits. boxing kits and cooking kits. This funding 15 to be released in waves. Thg balance came in during 2023 lor additional equiprrnt to be used in ¢ommunity settings for comrwnty benefrt. The Hubb Club Plol Project funded by the CLKnmunity Foundation in 2022. was 8xt8nded in 2023 with a successful 2-year award under the Know your NehJhbwrhorMI Scheme. For each year oflhe project vdunleers from 4 communty centres befriended socially i$ated and lonety dIvidUalS in their rèspectiv8 communilies. either by making hom8 visits. or drawiro Ihem nto events in their COTNnunity settings. We were included in a S$SfUl shared prosperity funding applicatK)n with Middler<)rt Matters. whlch wll sea us providing family activities and food lo the local communityovw 5 sess)ns spanning 2023124 which link lo Ihe wider PToiect of Discovering Middleport Ihrough Pl¥8 ayj Space. Pa9e 4
THE HUBB FOUNDATION TRUSTEES, REPORT FINANCIAL REVIEW AND RESULTS FOR THE PERIOD Againsl a challenging funding enwronmenL the Charity has st1 been aNo lo plan, develop and expand our se1C@S. The Charity, wath the aid of sound financial management and the support of Syneclic5 Solutions Lld, ils staff, arKI th8 charity's suppcvters has generated a positive financk?l outcome for the period. Thg success in obtaining new arvj ongoiThJ funding during 2023 from a variety of sources has allowed us lo rèfléct on our aims and provide much needed addilk)nal resowces. We are grateful to th8 numerous indwiduals and supporters hav8 mad8 donalK&ns to the Charity and therefo made a valuable contribulKJn to the furtherance of our work IhrouglN)ut the year. Trust88s are also grdt8ful to all organisalK)ns. k)cal and natknal. have financmlly supported our work during 2023. We would particularly like to thank the fonowtng for theirdonalions: Lord Mayor ofsloke on Trent, GMB Union. Goddard Dunbar & ASSoaleS Ltd and Rebus Training Ltd. In the opinion of th8 trusle8s. th8 charitys ass8ts ar8 sufftianlto th8 obligations ofthe charity. Net expervjiture for the year was £116.776 {2022.. £69.0351. efjnsk%ting of restricied nel 8XP8nditure of £102.110 12022.. £142.8301 arKJ unrestricted rtel expenditure of £14.666 (2022.. Income £73,795). Retained funds at the year•end were £194.289 (2022.. £311.0651. consisting of restsicted funds of £70,14812022= £172.258) and unrestricted funds of £124.141 (2022. £138.8071. FUTURE PLANS The charity plans to develop Ihe HAF promSn further in 2024 by offering enhanced enrichment activities to engage with more children and young people. In addition. an automated online booking system will be iMplennted to enable more accurate data cdkction and real tirne figures in preparation for reporbng. Th8 charity plans to implement a rot$1 qualty assuranc& framgwwk to measufe quality of provision be continually provlde the highest level of provision. Following the success of the 2023 Hubb Pots projttt, the charity will be seeking further funding lo In¢aS8 the scope of the project and further expand 'Hubb'. The charity will also be seeking funding 10 develop the Hubb pots project incorporating airty8rs lo increase meal variations for families and reduce energy cooking Sts. Following Ihe success of the'Hubb dub, in 2023 thicth sees Isolat individuals connected with the cornmunity, the charity wwkj like to S8cure further lunding lo increase reach 8nd impacl in the community- The charity was approached al the end of 2023 to conlinue to rnanage Department for Education funding, linked dire¢Uy lo schools. to provid8 OpplUn1tieS to keep schools and their facilities open ouiside of the rK)rmal school operaling day and into hdiday periods. Discusslons betsveen the DfE and treasury are expected lo confim further murttyear fundirKJ for hcAiday provis)n. INVESTMENT POLICY The trustees are authorised by the Memorandum and Artides of Association lo invest monies nol immediately required for the charity's own purposes after obtainiro advice from a financial expert, having regard to the suitability of investrnenls and the need for diversific8tion. RESERVES POLICY The trustees have examined lh8 charitys requirements for reserves considering the main risks lo the organisation. Page 5
THE HUBB FOUNDATION TRUSTEES, REPORT It has established a policy whereby the unrestricted funds not comffiitted or inv&sted in tangible fixed assets held by the charity should be beeen 3-6 months of the expendrture to ensure Ihal the charity is self-sufficienl in the longer term. Long term sustainability and buildirwJ reserves resilience remains one of the priority key aims of the charity's Iruslegs. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT E51imales and judgements are continually evaluale¢J and a based on a number of factors induding expectations of futu events that are believed lo be reasonable und8r th8 circumsiances. DISCLOSURE OF INFORMATION TO THE AUDITORS We. the trustees of the charitable company who held office at the date of approval of these Financial Statements as sel out above each confirm. so far as we are aware that.. There is no relevant au¢Jil infomation ofwhich the charitabl8 CoMpY'S auditors are unaware-, and We have taken all the steps that we ought lo have taken as trustees in order to make ourselves aware of any relevant audit information and to establish that the charitsble company's auditors are awarg of that information. By order of the board Jane awyers IS 20, 2024 1&.IOGMT+il Mrs H J Sawyers Chair of the Board of Trustees Pag8 6
THE HUBB FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES The Irusteos (who ar8 also the Directors of The Hubb Foundation fLY Ih8purposes ofcompany lawl are responsible lor preparing the Truslees. Annual Rewrt arvj the finarfial slatements in accordan with applicable law and United Kinglom Accwnting Standard5 (Uniied Kingdom G8nerally Accepted Accounting Praclicel. Company law requires the Imsie8s lo ppare financial statements for each financial year which give true and fair view of Ihe slate of affairs of the charitable company d the i011ng resources and application of resources, induding the incorne and expendilure ol the charitable company, for that period. In preparing these finan(aal statements. the trustges are to.. Select suitable accounting policies and apply them (x)nsisknty, Observe Ihe methods and princits in Ihe Charibes SORP IFRS1 1). Makejudgements and estimat8s that are reasonable [mudl. state whether applible UK A¢n11n9 Stsndards have beeTh folowod, svbi8Ct lo any material d8partur8s disdos8d and explained in the financial statements: and Prepare the finarKial statements on the Ing concem basis uthss it i8 inapprowiato lo presume that thè tharity wll continue in business. Th8 truslees are responsible for keeping proper accounting rec(yds that disclose with reasonable accuracy al lime the finanal posiUon of thg tharitsble (y)mpany enabb them to ensure that the finandal statements mpty with the Companiès Act 2CM)6. They are also iesptsn5ible for safeguarding the assets of the tharitable company and hence taking reasonab]e steps for the prevention and detection of fraud and other irregularities. P8g8 7
THE HUBB FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES Oplnlon We have audited the finanal stslements of The Hubb Foundotion (the 'charitable Ccffipanl for the year ended 31 December 2023 which compris8 the Statement of Fffjancial Acfvilies, Balance Sheet. Slalement of Cash Flows Notes lo the Financial Stalèments, induding Signrficant Accounting Pollcies. The finanaal reporting framewo that has been applied in thr preparation is applicable law and United lfjngdom Accountin9 Standards. indudrng F[nkl RetM)rtirvJ Standard 102 The FinanGial Reporting Standard applicablg in Ilje UK 8nd Republic ofireland (Uryted Krngth) Generally Accepl8d Accounting Pracliee). In our oplnion the finoncAal stat8m8nts'. Gwe a Irue and fair view ofthe stale of the charitable mPanS affairs as 31 December 2023. arHJ ol its incoming r8sourc8s and 8pplution of resources, inctsJdiNJ its irthrne and expenditure, for the year then ended.. Have been properfy prepared in acLordance wth United Kingdcrfn Generalty Accepled Accounting Practice.. and Have been prepared in accordan with the wuirements offv ct*S kt 2011. Basls for oplnlon We conducted our 8wJit in accordance with Inlematthal Standards on Auditirwj (UK) IISAS (UK)) and applicable law. Our SponbIlItieS under Ihose stalardS are further described in the auditor r8sponsibilities for the audit of the financial stat8ments secb'on of ourf8tK)rt. W8 are indapendenl of th& charitable company Sn accordance w(th the ethical requirements that are relevant to our audil of Ih financial ststemenls in the UK. including Ihe FRC'S ElhiL71 Standard. and we have fuffilled our other ethical r8spork8ibilities in accordance wilh thes8 requir8ments. We belwe that Ihe audit evidence we have obtained is sufficient and appropriate to provide a basi5 for ouropinion. Con¢lu$lons relatlng to golng eoncem In auditing the finanaal statements. we have conduded that the truslees'use of the going concem basis of accounting In the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have ntst kJeAbfied any material UnrtaInlieS relating lo events or conditions that. individually or collectively. may (ast sKJnfficanl doubl on the charitable companws ability to continue as a going concem for a period of at knsl iwdvè months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to ng concern are described in the relevant sections of this Te&%. Pag& 8
THE HUBB FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES Olh•r Informatlon The olhor information comprises the Infom1 induded in the Trustees Report and our Auditor's R8port Ihereon. The trustees are reSpOne lor Ihe other infomialion contained within the Trusl88S Report. Our opinion on th8 financial statements (k)e5 not COV8r the (Aher infNmation and, except lo thè exient olhemse explicity staled In our Teprf we do Th)t express any form of assurance conclusion thereon. Our respMsibility is to read the other infomiation and, in doing w ¢SIder whether the other information is materially Inconsislenl wth th8 finanaal stalements or our knowledge obtained in the Crse of the audit or otheIse SprS to be materially misstsled. If we identify such m81erfal inconsistencies or apparent material misststements. we are required to determine whether Ihis gives rise to a material misstalemenl in the financial ststements Ihemsefvps. If. tjased on th8 work we have perfoiffled. we condud8 that there is a material misstalemenl of this c¢ther inlonnaknon. we are required lo raport Ihal facL We have nolhing lo rerKxt in thi8 regard. Matters on whlch we are Tequired to report by ceptIon We have nothing to report in r8sp8Ctof the foll¢Mng malters in relat towhich the Charities IAc¢ounts and Reports) Regulations 2008 require us lo rewrt to you if. in our opinM)n= The information giv8n in thè finan(aal sL*ments is incornsiStenl in any material respect with the Tmst8ès' Report.. or ¢haritsble company has Th)t kept adequale accounting recrds.. or The financial stal8rn8nts 8r8 not in agreement with the accounb"NJ records and retums,. or We have not received all the information awKI explanations we require for our al11. Responslbllitles of truste•s As explaingd more fully in the trustees, responsiTr)lles statement sel out on page 6, thè trustees (who are also the directors of the Gharitable company for thè purtM)se$ of ¢oryJany law) are responsible for the preparation of the financial stalèm8nts and for being salisfied that Ihey give a tru8 aNI fair view, and for such inlemal control as the trustees detemiine necessary loenablèthe preparation of financial slalements Ihal are free fri> material misstalemenl. whether due to fraud or error. In preparing the financial statements. the trustees are responsfole for assessin9 the charitabl8 company's ability to continue as 8 going concern. di8dosirwJ. as applicable, mattèrs re181ed to going concern and using the g(Hng concem basis of accounting unless the tntslees either intend to liquidale the charitable company or lo cease opera¢ty)ns. or have no realistic dtematNo bul to do so. Audltor rnsponslblllll¢s for th• audlt of the financlal statgmants Vve have been apprynled as avdilor under sectwjn 144 of the Charilies Act 2011 and report in accordance with Ihe Acl and relevant regulation5 made or havirvJ effectthereunder. Our objectives are to obtain reasonable assuran about whelher th8 financial statements as a whole are fe from material misslalemgnl, whether due to fraud or error. aThJ to issue an auditorfs repNt that includes our opinion. Reasonablè assurance is a high level of assuiance bul is not a guarantee that an audit conducted in accordance with ISAS {UK}will always delecl a material misstatomenl when il exists. Misstatements can arise from fraud or effor arKI are considered malerial if, indwidually LV In the Page 9
THE HUBB FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES aggregate, they could r8asonabty be expected lo inlluence the ecorTh decisions of users tsken on the basis of these financial statements. Irregularities. induding fraud, are InStsn of non-compliance wilh laws and règulations. We design procedures in line with our responsibiliti8s, ouuined abov8, io detect material misstatements in respoct of Irregularities. induding fraud. The extent to which our w0¢eduS are capabl& of detecting itregulariligs, including fraud is detailed below. The engagement partner ensured that the engagement t8am cclectwely had the approprfat8 competenee. capabilitiès and skAls to identfy or r8cogniso n(-CoMplianCe wrth applicablè la and regulations., We idontffi8d the laws and regulalK)n5 applicable to the charitable company through discussions th trustees and olher management. and frMI our rThim8rcial krN)wledge and expYrienG8 of the charity sèctor, We focused on speari¢ laws arKI regu18tions which we considered rnay have a direct material effecl on the financial stalements or the 0ratIonS of the charitable mpanY. induding the Companies Act 2006. data prolecbon. anti-bribery, employrrenL enVirCrnenta1 and heath and safety legislation. We assessed the ext8nt of Complian with the laws and regulaiK)ns identified abDV8 through making enquiries of management and inspecting legal correspmyence; and Idenltfied laws and regulations w8r8 communuted the audrt team gUlarlY and the team remained alert lo instances of non-comKAlan throughoul the att We assessed the susceptibility of the charitable mpanY$ ffftancial ststements lo material misstslement. including obtaining an urKlerstanding of fraud m1 LKc#Jr. by: Making enquiries of management as lo where they considered there was susceptibility to frau(I, their knowledge of actual. suspected and aled fraud. Considering the intem31 controls in place lo mibgate risks of frwd and non-compliance with laws an¢J gulatior. To addr8ss the risk of fraud through management bias aryl ovewTide of 0)ntls, we.. Performed anatytical procedures to Klentify any unusual or un8xpected relation$hips.' Tested joumal entries lo identify unusual transacb"ons- Assessad whether judgernents an(1 assumptions made in delemiring the a¢)Unting estimate8 identified as critical were indicative of potential bias. Inve51igaled the rationale behind significanl ty unusual transactrons. In response 19 the rk of irregularities and non-eompliance kws and regulation5, we de5ignBd procedures which induded, but were nol limit8d to: Agelg financial statement disclosures lo underfying suppN)rbr¥J dUnntal1On. Reading the minutes of Iruslees meelirvjs: Enquiring ol management as to actLJal arKI w)tential IItKJan and daims. Reviewing correspondence wth relevant regulators and the charilaNe company's legal advisors. There are inherent limitstions in our audit rKocedur8s descn7Jed ae. The more removed that laws and regulations are from financial transactk)ns, the less likely it is that we would berne aware of non. complianc&. Auditing standards also limit the audrt procedures r8quired to identify non-complian with laws and regulations lo enquiry of th8 tnjstees and other management and the Inspection of regulatory and lègal correspondence. if any. Page 10
THE HUBB FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES Material rnlsstal8menls that arise due lo fraud can be harder to det than Ihose Ihal arise from error as they may involve deliberat8 concealment or collusion. As part of an audit in acroFd8nce wth ISAS (UK), we exer(ise prOf1Onal fvdgmenl and maintain professional scepticism through(iut the audit_ We also= Idènlfy and assess the risks of material misstatement of the fmn(yal slatements. wh8ther due to fraud or error, design and perfom audit proc8dures resFK*nsive to those risks. and obtsin audit evidence thal is suffieienl and appropriate to provmle a basis forcwopinion. The risk of not delecting a material rni55tstemenl r8$ulling from fraud is hvJher than for one re5ultirg from errN, 8$ fraud may invofve cc41usion, forgery. Intenttial omissK)ns. misrewesentations. orlhe override of Intemal contrd. Obtain an und8rstsnding of intemal control relevant to the 8udil u) order lo design aLtrJit pre$ that ar8 appropriate in the circumstances. but not for the purpose of ewe55ing an opinion on th8 effectiven85s ofthe charitable company'5 intemal conlrd. Evaluate the appropriateness of accounting pol185 used arKI tha reasonablwss of accounting èstimates and related disdosures made by the twstees. Conclude on the appropriateness oftho trustees. use of thg going basis of act¢Junting and, based on th8 8udit evidence oblained, whether a mat811 UnrtaInty exists related to ev?nts or conditions that may castsignificantdbl on the charilable compan$ abilityto continu8 as a Ing concern. If we condude that a material uncertainty 8xisls, we are required lo draw attentlon in our audilorfs report io the related disclosures in the financlal Statents or. rf such disdosures arè inadequate. ID modify ouropinion. Our ndUs15 are based on the audit ewdence obtained up lo the dale of our auditcrfs repcyt. However, future èvents or coThJitMs may cause the charitable company to C88se to continue as a going concem. Evaluate the overall presentalion, slructure and cont&nt of the ffinancial statements. induding the disclosures. and whelh8r Ihg finanoal stalements rewesent the underfyiThJ transactions and events in a manr that achieves fair presentation li.8.. gives a true and fairview). We crffimunic8te with those eharged governance regardiThJ. amotvJ other matters. the planned scope and timing of the audit siynifunl audit finrfings. inclurfing any SignifnI dorincle5 in internal control that we identify during our audit. Us• of our report This r8POrt is m8de solely lo the charitaNe company's tnjstees. as a k)dy, in accordance with Part 4 of the Charities IAccounls ané Reports) Regulations 2008. Our audit work has been undèrtaken so that we rnight state lo the charitsblg company's members Ihose matters we are required lo state lo them in an auditorfs report and for no other purpose. To th8 fullest extent peJmitted by law, we do not accept or assume responsibility to 8nyone other than the Charitab company and th8 charitable company's trustees as a bo(1 our audit r thK8 rgtth, orfor ihe opin$ we have fomied. Andrew Pounlney (Senior Statu For and on behalf of Dean Statham Chartèred Ac¢o¥Jntanls & Slatut¢yy Audito 29 King Street Newcase-Under-Lyme Staffordshire ST5 1ER Dale%( 20¥- Page11
THE HUBB FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2023 Note RlIrf Unvestrlet•d funds lunds 2023 2023 Restiicte(S Unrestricted fund5 lunds 2022 2022 Total 2023 Tolal 2022 INCOMING RES¢XIRCES Charitab18 actlvities Donations Donal*l seMc8s 1.621.576 1.621.576 1.358.177 14906 7.ofKI 25WQ 24,51)J 1,358,177 127.193 24,5 14.906 120,193 TOTAL INCOMING RESOURCES 1.647.076 14906 1.661.982 1.389.677 120.193 1,509.870 RESOURCES EXPENDED CJwlatAe aclwtiès 1.761,186 17.572 1.778,756 1532XJ7 46.398 1.578,9QS TOTAL RESOURCES EXPENDED 1.761.186 17.S72 1.n8.758 1.532.507 46.398 1,578,905 NET IEXPENDrruRE) I INCOME FOR THE YEAR 1114,1101 12.6661 1116.7761 1142.8301 73.795 169.0351 TRANSFERS BETWEEN FUNDS 11000 (1llJOO} NET MOVEMENT IN FUNDS 1101110} 114,6661 1116.7761 I14230) 73.795 169.0351 TOTAL FUNDS BROUGHT FORWARD 10 172258 138.807 311,065 315.088 65.012 380,100 TOTAL FUNDS CARRIED FORWARD 10 70.148 124.141 194.289 172,258 138.807 311.065 All income and expenditure deriv8 from conts'nuing actiwties. The slalemenl of financial adivili6s indudes all gains and Ios58s recJd during the year. Page 12
THE HUBB FOUNDATION BALANCE SHEET As at 31 December 2023 Not8 2023 2022 CURRENT ASSETS Debtors Cash al bank and In hand 51.017 496.372 156.818 436.974 CURRENT LIABILITIES Creditors: Amounts falling due knthin one year 547,389 593.792 1353.100} 1282.7271 NET CURRENT ASSETS 194,289 311,065 NET ASSETS 194.289 311.065 FUNDS Unrostricled fijnds Restricted funds 10 124,141 70,148 138,807 172,258 194.289 311.065 These financial slalements were approved by the tnjslees aTrJ authorised for issue on 20 4*nd are signed on its behalf by: Jane 20, 2024 18..10 GMT+ll Mrs H J Sawyers Dirtrclor and Trustee The notes on pages 14-21 form part of finanfxal stalements. Company R6gislralion Number.. 11707416 Registered Charity Number.. 1186026 Page13
THE HUBB FOUNDATION STATEMENT OF CASH FLOWS For the year ended 31 December 2023 2023 2022 CASH FLOWS FROM OPERAMNG ACTIVITIES Net cash lexp8nditixeyirwm8 1116.776) {69.035) WORKING CAPITAL ADJUSTMEKrs Oecr88sel{increasel in deLrtors Increaselldfjixeasel in creditors 105.801 70,373 {146,819} 122.3851 Net cash fflows from opernting aclTrMt*s 13 S9J98 (238,239) Cash and cash 8quivalents al 1 Jarnary 436,974 675.213 Cash and cash equivalents at 31 December 496,3n 436.974 Page 14
THE HUBB FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For th8 year ended 31 December 2023
1. ACCOUNTING POLICIES
GENERAL INFORMATION
The Hubb Foundation is a charitable company rnIted by guarantee and is registered and incorporated
in England and Wales. The r8gislered is CIO Syneclics Solutions Limited. Hamil Road, Burslgrn,
Stsffordshire. ST6 11. The registered company number is 11707416. The registered charity number
is 1186026.
In the event of the tharty being wound up. the liabilrty in respecl of the guarantee is limtted to £1 per
member of ihe charity.
The nature of the Charty's cperatN)ns and prin&pal aclivibes are relief of yourKJ people and their
families in need bècause of youth. finanoal hardship or other diSadVants specifically bul not
exclusive through their leisur8 time acl1vil$ and d8v8lopSng their physical. mentsl and spirllual
capabilities so that they may grow lo fvlty maturity as indtviduals and fully contritrtin9 nMberS of
society.
BASIS OF PREPARATION
The charity
THE HUBB FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 1. ACCOUNTING POLICIES CONTINUED INCOME No amount is iluded in th8 finanaal statèments forvc4untser time in line wrf(h tha SORP. For legacies, entitlement is the earfier of the charity belng notified of an irryeThJing dlstribulion or tho legacy being r8ceived. Al this point income is recognised. On occasion18gacs will be notified lo Ihe charity however il is not possible to measure th& amtyjnl expected to be dislribul8d. On theso o¢¢astons, the legacy is trealwj as a Contwt asset arKI disck)sed. Inme from govemmenl and other grants ar8 recogntsed at ts]rval when the charity has enlillemenl 8ft8r any pertomiance conditions have been met. il 15 probable that the income will be rgcewed and lh9 amount can be aSured reliabty. If ontidement is not mel then these amounts are d8fwred. EXPENDITURE All expenditure Trs accounted for on an accwa15 basis and has been dassified under headings Ihal aggregate all costs r8lated to the category. Exp8ndiiure is renised where there is a legal or cor151ructive obligation lo make payments lo third parties. it is probatye that ihe settlomenl will be required and the amount of the obligation can be measured reliabty. Irrecoverable VAT is charged as an expense against the athvity forwhich expenditure 8rose. SUPPORT COSTS Support costs are those that assist the WLvk of tho charity Lxrt do not drecty represenl the charitab18 actsvilies and include office costs and governar costs. They are incurred directly in support of expenditure on thè obieds olthe charity and indude woiect management carried oul at Headquartars. Where support costs cannot be directly attritArted to parb'cular headings, they have been allorated lo expenditure on charItae actiwities on a basis consistent wth use of resour. An analysis of these costs is included in notg 3. TAXATION The company is exempl from income tsx under sèction Part 11 of the CO0[ation Taxes Ad 2010. No tax charges have arisen in the charity. FUNDS Unrestricted funds are available for use 81 the discretion of the trustges rn furtherance of Ihe general obJ'ectiV8s of the charity and which have not been designated for purposes. R8slricted ftjnds are funds which are lo b8 used in accordanco with sp8cific reSt[l)nS imposed by donors or which have en raised by the chartty for particular purp05es. The eosl of raisiThJ and administering such funds are charg8d 3g8instthe specafic lund. The 2im use of eaGh restricted 14And is sel out in the notes lo the financial statemewjts. FINANCIAL INSTRUMENTS The charity only has financial assets and liabilitios of a kind that qualrfy as basic financial instruménts. Basic financial instruments are inilially recognised at transactiDn value and sub58qLuY measured al amortised cost using the effective Int¢st mothod. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the charity's a¢LxWJntw poliues. the trustees are required lo make judgements, estimates and a55umptions about the cartyng amount of assels and Ik4bililigs that are not ieadily apparent frorn other sources. The estimales and as5waled assumptions are based on historical experience and other f8Ctors that are nsIdered lo be relevant. Adual results may drfter Irom these èslimales. Pag& 16
THE HUBB FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 1. ACCOUNTING POLICIES CONTINUED CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS The eslimales and underlying assumptions are revièwed on an on4JNng basis. Revisions to accounting eslimales a recognised in the period in whth the eslKnatg is revised where the revisron affects only that period. or in th8 period of the revi%n and fulure wK)ds whwe the revision affects both current and future perirmls. No critical accounting eslimales and JThnts have been rnade in prepar these financi81 stalements. 2. EMPLOYEES The average mOnY nnberOfpe(sCKts j1ng d1red(Ks)emplo bylhe chty during thè yearwas nll12022'. nil). Duriw this year and the wior year. donated setvices were received a related paty in respect of five employees. Nc+nè of empbyees eame(l ovw £60.CQO duiiThJ the year. 3. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTivmES Actlvltles undertakèn 2023 Support ost5 21123 AL*viti8S Total undertaken 2023 2022 Support costs 2022 Totsl 2022 Holiday Activit$ Hubb Pots Project 1,419.716 76,254 255.504 1.675.220 1.253.474 27,284 103.538 107,8SS 205.010 1,458,484 12.566 120.421 1,495.970 281788 1.TT8.758 1.361.329 217,576 1.578,905 P&ge 17
THE HUBB FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 4. ALLOCATION OF SUPPORT COSTS Support Costs 2023 Hollday Hubb Pots Activities Projecl Total 2023 Bas1$ of Allocatlon Gtsveman Finance support Legal. HR and IT SUEPt Office premises Wages arKI salari8s Prirrting. poslage orn1 ststionery Promotion, publicity and desigft Memberships and subscriptKJns Irurance Mileag8 and travel expenses Meeting expenses Training Bk charges General exp8nses Use of resources Us8 of resources Use of resrceS Use of resources Use of resour Use of reSoUrS Use of resourc8S Use of reswrce5 Use of sourceS Use of resources Use of resources Use of resour Use of resources Use of resources 9.639 11.250 4,500 1.071 1.250 500 800 13,299 28 8.177 191 125 467 28 85 27 1.236 10.710 12,500 s.000 8.000 132,988 283 33.600 39,368 1.251 7,699 285 18.476 265 12.363 119.689 255 26,923 39.171 1.126 7.232 257 16.891 238 11,127 255.504 27.284 282.T88 Support costs 2022 Hollday Hubb Pots Actlvlliès Prolèct Total 2022 Basis of All¢)cation Gov8mance Finance support Legal, HR and IT support Office premises Wages and $ae5 Printing. postage and ststionery Promlion, publicity atKI design Memberships and subscriptK)ns Insurancè Mileage and travel expenses Meeting expens8S Training Bank charges General expenses Use of resources Use of resources Use of resources Use of resources Use (rf Tesources Us8 of resources Use of r&$wrS Use of resources Use of SOurceS Use of resourL*s Use of resources Usè of resources Usè of reswrces Use of resources 10.726 11.400 4,750 7.125 161.874 184 1.597 1.220 1.217 1.614 148 2.195 132 828 565 600 250 375 8.520 10 1.946 11.291 12,000 5,000 7,500 170.394 194 3,543 1.284 1,281 1.614 156 2,311 139 116 41 205.010 12.566 217,576 Pag8 18
THE HUBB FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 GOVERNANCE COSTS 2023 2022 Auditor's renNJneralion Accountancy lees T.600 3.110 7.416 3,875 10.710 11.291 6. AUDITOR'S REMUNERATION 2023 2022 Fees payable to the charity's audttry for lh8 audit of Ihg cknan5 fin8nual statements 7.600 7,416 Fees payable tr) charivs aVltr forother $e$. Accountsncy fees 3,110 3.875 10.710 11.291 7. TRUSTEES REMUNERATION AND EXPENSES No twstees receNed ramUneratn. expenses or penSn benefits eithèr year. 8. DEBTORS 2023 2022 Trade debiors Other debtors Accrued income Prepayments 5,576 13,860 142,420 538 44,122 659 51.017 156.818 Page 19
THE HUBB FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 9. CREDITORS: AMOUNTS FALLING DUE WIThIN ONE YEAR 2023 2022 Tre creditors Accruals Olher creditors 22.238 283.908 46,954 37,873 206.769 38.085 353.10Q 282,727 10. FUNDS RECONCIUATION Balance al start of InciJniThJ Resources year re50uros expended Transfers Balanc• b@en at ènd of funds y•ar Year ended 31 December 2023 Unrestricted funds Restricted fvnds 138.807 14.906 (17,5721 172.258 1.647,076 (1.761.186) 112.000) 12,1) 124.141 70.148 311,065 1,661.982 (1.778.758) 194,289 Year ended 31 December 2022 Unreslrided funds Restricted 65,012 120,193 (46.398} 315.088 1,389.677 {1.532.5071 138,807 172,258 380.1W 1.509.870 {1.578.9051 311,065 Unrestricted tunds Unrestricted lunds are available for use at the drs¢retion of the trustees in furtherance of tho gen8ral objectives of th& charity and which have Th)1 been desiqnated for other PLwposes. R•$trlcted funds Restricted funds are furKls whth ar8 to be used in a¢cordan¢e wilh specifjc restridions imposed by donors or which have been raised by the charity for partwlar wtFwes. The cost of raisin9 and administering such funds are charged against the specthc fund. Page 20
THE HUBB FOUNDATION NOTES TO THE FINANCIAL sTATEMErs For the year ended 31 December 2023 11. RESTRICTED FUNDS Balance Transfers at start of Incoming Reswrces tlw@•n year resources exFended funds Balanc at end of year Yaar ended 31 December 2023 Dcfflaled seTh HAF Contrad Hubb Pols Project Communty Foundation Openirg Schools Facli ilies Community Foundation Know Your Neighbour Cty of Stoke on Trent Capital Fund National Lottery Awards For PJI Bauer Radio Cash F¢y lfjds North Staffs Food Nefvrk Middleport Malters EdLJcalion EI0rnent Fund Other Community Donalions and Granls Be Valiant Communty Project Tesco Bags Life 25.5 {25.500) 1.404.200 {1.441.6601 78.750 191.856) 49.716 145.2161 37.833 {37,8331 25.000 {19,817) 37.460 68.880 55,774 4,500 5.183 10.000 11,632 {21.632) 4.950 13.199) 4.5c} 12,5951 12,000} (53,9781 17.500) 1,751 2.595 2.400 400 2,540 44.518 7.500 12.IXIO {1.IXKII {2,9001 2.SYIO 172,258 1,647.076 11,761,186) 12,000 TO.148 BaL4nce at stsrt ol year Transfers Incoming Resources betsveerb r&sources expeNJed funds Balan at and of yèar Year eIe 31 December 2022 Donated Services HAF Contract Hubb Pots Proiect EdatIOn Endowment Fund Opportunity Aa Grants City of Stoke on Trent Capit Fund Be Val*nt Community Prq'ed T&sco Bags for Life other Community Donations and Grants 24.500 (24.5001 1.296.677 11.259,2171 50.000 {118.3731 (76,120) (49,69n 137.253 120.638 49,697 37A60 68,880 44.518 10,000 10,000 14.1001 15001 2,900 1,000 7,500 1.500 7.500 315.088 1.389.677 {1.532.5071 172.258 Pag6 21
THE HUBB FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unr•strfct•d Restrlcted Funds Funds Total 2023 Debtors C8sh and bank and in hand Creditors.. amounts falling due within one year 659 50.358 51.017 139,527 356.845 496,372 I16,) (337.055) (353.1001 124.141 70.148 194.289 Unrestrktod Reslrlcted Funds Funds Total 2022 Debtors Cash and bank and in h¥ Cffjditors.. anTrtS fallir#J du8 wthin one year 98,521 58,297 156,818 46,726 390.248 436,974 {6.4401 1276.287) {282.7271 138.807 172.258 311,065 12. ANALYSIS OF CHANGES IN NET FUNDS 1 J*uary 2023 Cash flows 1 December 2023 Cash at bank and in harHI 436,974 59,398 496.372 P89e 22
THE HUBB FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 13. RELATED PARTh TRANSACTIONS Al the Yearnd £nil 12Q22.' £nil) was du8 to SynectFCS Solutions Limitod, a rJ)mpany wfth common directors. During the year Synectics Solultons Limited irurred costs totslllng £180,513 12022: £248,132) on behalf of the tharity. Repayments were made to Syn8CtiC5 Solution5 Limited during the yèar tolalling £180.513 12022.. £518.719). Synectics Solutions Lirrwied itsetf made donatiorts to the charity tolalling £50012022= £nil). Synec1 Solubons Limited also donated services lotalling £25,500 {2022: £24,500) during the year. At the year•end £nil 12022.. £2,050) w8s due tr) Port Vale Foundalh)n Trust. a charity wlh e£Jmmon directors. During the year Port Vale Foundati Trusl invoiced Ihe tharity £36.57912022: £33.3381 for the supply of services. Repayments were made to Port Vale Foundalion Trust during the year totalling £38,62912022: £31.922}. Port Vale FouThJation Trust itself made d(wtK)ns lo tha charity totallirKJ £600 12022.. £nil). At the year*nd tnil12022: £nil) was due to Port Vale Football Club Lirniled. a company with common directors. During the year Port Vale Football Club Limtied invoed the chanty £479 I2022= £7.3091 for the supply of sgThices. Repayments were made to Port Vale Football Club Limited during the year lotalling £479 12022.. £16,313)- Port V81e FoottKII Club knmited itself mad& donations to the charity lotslling £nil12022= £1.0491. Al the year-end £nil12022: £nill was due lo Besra mIled. a companywith common directors. During the year Bescura Llmited invoiced thè tharity £nil12022: £2.79)) forihe supply OfServe$. Repayments were rnad8 to Bescura Limited duHng the year lolalliThJ £nil {2022.. £2.7901. Pag8 23