THE HUBB FOUNDATION (LIMITED BY GUAFiANTEEI AUDITED REPORT AND FINANCIAL STATEMENTS 31 DECEMBER 2024 Comwy Reg8tr8tl)n Number. 11707418 Registsra CIMrity Number.. 1186026 THE HUBB FOUNDATION CONTENTS LEGAL AND ADMINISTRATWE INFORMATION TRUSTEES, REPORT STATEMENT OF TRUSTEES. RESPONSIBILITIES INDEPENDE￿ AUDITOR'S REPORT TO THE TRUSTEES 7-10 STATEMENT OF FINANCIAL ACTIVITIES 11 BALANCE SHEET 72 STATEMENT OF CASH FLOWS 13 NOTES TO THE FI￿NcIAL STATEMENTS 1*24 THE HUBB FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION REGISTERED OFFICE Th? ￿iteh￿Jse 566 EINria Roa<1 Ne*rastle Undw Lyme Staffordshire ST5 OSU TRUSTEES Mr D D O'Neil Mfs H J Sawyèrs Miss P M Arnigon Mi6sNMBa Mr M Stanyer Mr J D E&les MT J J Hibberts BANKERS Natwest Bank 75 High Street Newtastkn-und*r-Ly staffordth.rn STS 1PN AUDITORS 29 King Street Newcaslle under Ly Stsffwdsh ST51ER REGISTEREO COMPANY NUMBER 11707418 REGISTEREO CHARITY NUMBER 1186028 Pègo 1 THE HUBB FOUNDATION TRUSTEES, REPORT The Tru$tees present their rwl and the audrted finanrial 6tatenRnts of the tharity forthe year ended 31 December 2024. The truslees have adowed the provisions rf Statement ol Recommended Pr¥¢ti¢¢ ISORPI 'AccoLM)ting and Rèprytr"ng by ch*￿e5. In prepwirvj the an[￿1 rop)rt and financthl stat8ments oflhe charty. The financAal statements have been prepared in ac¢oidan¢e wth the accountkng pollcies 8#t out In tho r￿ts3 to the a￿Ount9 and Comp￿ vAth the charity's govaming dcthmgnL the Charities Act 2011 and A¢counting and Repoiting by Charities." Stat*r1￿1 ol RaWnmer￿*d Pra¢tl¢i app1ka￿& tr) ¢harftl&s pr8paring their accounls in accordance wilh the Financial Rewb"ng Standard applicaNe in the UK and Republ￿ of Ireland IFRS1021 published in Crtober 2019. STRUCTURE. GOVERNANCE AND MAMAGEMENT Gov•mlng Documfjnt The organisalion is a ¢hgritsble compony limited by guarantee Tr ctynpany estsbll$hed under a Memorandum of Association, vthieh èstablished the obpds ptrw•rs oftha tharitabk company and 68 gov¢m¢d under Its Artides of Ass0ciatK￿. dated 3 Dec¢mber 2018. In the e￿nI of th8 company bein9 wound up. m•mbers wo reouired lo contribute an arnount rK< exceejing £1. R8crultrnwt •ndAppolntffl•ntof TnMI• In o¢¢ordan¢e with the Artides of Aosockqtion. the Irustee8. ￿ are referred to as MembeT8 oppointed Members when they becow* Directorn. Any p•wn wholg willing lo bo * ￿re6kn, and vtho is perrTthd Iwto do ￿, may be appolntsd to be 8 Direclor by r•$olut￿n olthe Directors. The chartty maintaini a reg'8ter of M¢mb¢rs. )nd •ny p¢r¥on rA•thg kn be • Membgrls r¢mov•d from th• r•gl$ter. A Memtygr $h•ll lo M • m•mtw11 th•y (•} to ￿ • dr*tsr, or Ibl dl•. rrnJtM Indu¢Uon •nd Tralnlng N¢vrf Iru$¢o¢$ a￿ supplied vAth the Chwity Comrnisglon pubk8Uon, 'Th Egsenti81 Trustee.. What You Need to Know, 8kng the M8mornndum #nd Aitltss and h Lgte$i finon¢K918latwn•nts. K•y M•n•g•mwtP•rnonn The Board of Tmst8•8 eon8ider ttwt tw. together the Chwity'l Chief OF*ratr'ng Offi'cer, Operations Manager and Fln8nc• Manager tho Key Maroyemenl Perv)nnel. The Trustees gN• Ihafir time freety. Tly we resp)nslble tc( 4nThJal￿ ￿VieW1n9 the pay and remuneratkn olthe Chl¢f Operating oifw, Operati￿5 Manager Finance m￿ager. The Chief Operating oir￿er and FI￿ar￿ Offur. revlw rgmurwo1tr)n ￿nual￿{ for all other $18ff, alory$ld• th• toard of Trustees. A number of critwia are used ￿en seth'ng pay Includlrg." The nature of th¢ ￿ and respons*)ilities Infiat'on The financial pogrtion of the Cha Sector salaries for comparable positions NatK)nal Minimum and Livin9 Wage rate5 THE HUBB FOUNDATION TRUSTEES, REPORT Riisk Mwiwmont The tru51ees have con%dèred in detail the risks facang thecharity. th2 cfjntrols in pl%e to miiigatethose risk5 and action plans to deal wth tho9¢ •rea3 vthere contro15 COU￿ be enhanced. The trustees believe that they have apwopriate controls in plxe. cornmensurate with the sEe of the organisatKJn and their cost èffe¢tivene53, to mitigate the iisks ttlenb"fi￿. Thè truslees ￿lÈW and update the assessment of the risks tscing the charty, together Wblh an as￿5£￿ of th¢ c¢ntrd5 on a wular basi•. Oryantsation•l Struclurn Undar lh* Arti¢les of As80ciation. the busfinass oflh• Twl i¥ mnwged by tha Membgr5h*. Meeb'ng$ can te caHed at any lime by arry rneM￿r of the Membwth"p. No $hall te tronsa¢ted unle88 8 quorum is present. A Member wa entitked to apponl another person as his prnxy, In awdanc*N¥th th• Act, to I￿r¢I$8 911 or any of his rlghts lo attend and to speak and vote at a meeting ofthe charity. OBJECTIVE8 ANO ACTIVMES FOR THE PUBUC BENEFIT Ch•rft•bl• ObJ•edv•8 The charity's obJecth"v•s ar• r*¥trtt•under was a150 egcalated from TnJst88 to Patron for h•r Invaluabkn support and *rJrk drl¥ing the Hubb for￿Id. FINANCIAL REVIEW AND RESULTS FOR THE PERIOD Ag4in¥l a thallenging fundlng ¢nvlronwt. the Chority h•s Jtill been able to plan. devdop and expand our 8efvi¢e$ Compare to the pwous yèar. We ore Bratefvl to Ihe Nmerouy indivléuals and ¥upporter¥ who have made donatKsns to th• Charity and therefo￿ made a vthable cOntribut￿n to tha fvrthèrarKe of our work. Trugt••8 8re otso gr*t•fpJ to al. oryanisations. aThl nabond. WIKJ have fm•n¢F3lly supported ourwork durtrrfJ 2024. We would pa￿UlartY like to tt￿nk the fol0*v￿ for thelr dol￿t￿)￿s, GMB Union, SY￿EtiCs SolutionB, Gon• r•l•tlng to golng GonG•m In audrth9 l￿financial •t•t•m8nts. w• h9v• ¢ord(thd that th•tru*•M' olth• golrw concern basil of ac¢ounts"ng in tho preparat￿n of the financial 8laterrenls 1$ 8PPfWfi8te. Basgd on th• VK*rk wo have p*l￿n*d. vrt have not id•ntiff•d matffial un¢wtsintl•s r•Lab'ng to ttvents or condition¥ that, indivKlualty or colleciThidy, cast Wgniflcant th)ubt on thè ¢haritable mpaw'$ akn'lty to continue going concem for a period of at ￿￿$t h¥elve monlh8 from ￿en the financFal statemerrts are authorised for msua. Our osponsibillties and the respon9ibillties ofthe trustees rewato plrvJ concern are described in the relevant $octh)n8 of tINs r• Other inlorrn¥tion The other inforMat￿n ctynms the inforrnalion indud8d in the Triffjiees Report and our Audrtorf6 Report thereon. The trustees are resF¥)nsibie lor the other informatitl) c￿tained within the Trustees Report. Our O￿nIOn ￿ the financial stat￿ments th)8s not covertheotFxr Inforrrnqtion a￿, •xcept to th extent oth￿[￿e •xpll¢lty ststed in our reprt w¢ do not exsxes$ ary ftym of a$$ur8n¢e c￿clusiOn thereon Page 8 THE HUBB FOUNDATION INDEPENDENT AUDITOR'S REPORTTO TrIE TRUSTEES Our respon8ibiifLy IS to read the other infomkn and, in dow￿ $0. ¢tsnsider lthelher the Other infomiat*)n is materially incoftsi5tsnt vAih the ffina￿al statement5 or our kn￿edge obtained in the course of thè audit or otherwlse appears to be materially rr￿$stated. 11 we identfy such material Inconsistenc￿8 OT apparent mateiial misstslements. we are requKed kn detèrniinè whether this gNes ri8e lo a material misstat8mÈnt in the finanaal ststemenis thernsthes. If, based w the work we have performed, w• can¢lthle thal th•rt is a moterial nMs8tatement of cthèrinfcwmaith. V•* are wuired lo report that fad. We have nothing to report in this ￿0rd. Matt•rn on whlch ￿ arn r•q￿r0d tt* r•port ty •x¢optlon We have nothing to report in respe¢t oltho folltmng mattern in re*ton lo WiichtheCharit*s lknunts gnd Reports) R•gulalws 2008 require u8 to lo you if. in ouropw¥on.' The infomation gNen in the finandal 81•tement8 18 w￿￿318tsnt in Material respect with th TN3¢￿3, Report.. OT The charitsble company ha8 nol kept adequat¢ a¢¢ounb"ng r•¢uth." or The financkql statem¢nt$ are ty)1 In awnwnt vthh the ac¢ounting receid$ and r¢tum$', We have not received all tho informalhjn arKI expian*lonJ w• rn9iMre for tyjr audlt. R••pon•lNlltlo• of tru•t••• A$ •xplolned morè fuly ￿ tho trusteos, r•spon8ibilNl•i statement ￿ oul on p*g6 6. the trustees IVA art also the directors ol the charitatk• company for the purpose8 01c￿panY lawl are re8ponsible for the preparation of the fin￿￿81 8tat•m•nts a￿1 for being soti8ffi*d thal they gw• a true fair vi•w. and for guch intemal control as t￿trUst*•$ d8t•miln• 1$ n￿1$$•ryto enawèthe preparatlon offin8n¢lal 8lat•m•nts that artr free from material M￿8181e￿ %thethw due lo frwd or errol. In preparing tho finandal ¥tst•m¢nts, the tru8tse8 ar• r•w*r4ibkn fty a180￿1n9 th¢ Ch￿710b[• company'g Ability to continuo 45 a wng wncem. di•cb)4ing, as appkable. m•tter¥ related to going concem and using th• 90ing ¢on¢em basis of a¢¢ountirg unles$ ts trustees either intend tts14uKlale lh• ¢h8dtsble ¢¢mpany or lo ￿88? operatiowo, or hwe no realrdtka￿emsI￿e to do so. Audltor rgwon*iblllUw for th• audltof th• Ilrnnclal •tst•rn•ni• W• havo been aFwnted as auditor ￿der 8ecth)n 144 of the Chwltie8 2011 and rep￿t In accordance %bilh the and relevant ￿9￿allonS made ￿ havitvj éffed th&•￿dar. Our ¢JbJecb'ves are to obtain reasonoble 4$wrw¢¢ wh¢thwthe fmandal statements as a ¥thole sre free from matenal misstatament, ￿th￿ther due to fraud or error. aDdtO i¥Bue ¥n 8udito¢¥ ￿POrt that kncludes our opinK)n. Rea30n8b￿ aswrance is a high thl Qfa&ry¢xar￿ bul 15 not a guarantee ihat an audit Conducted in accordarKe with ISAS IUlQTrMII akvays detect a rrAtulal misslatemenl wh&n it exists. Misstatements can arise from fraud or •rr¢x arKI are con*derad trot•r￿1 rf, individualy or in th• aggregate, they could r&asonabty b& exp¢¢l¢d lo Inffiutr¢e the e¢ononNc leosion$ of usors taken ¢n the basis ol these fina￿la1 statements. Iwregularitie$, in¢luding fraud. are instances of non-cOmplrar￿ I￿S and regulations. Vve design pro¢¢duw$ in lin¢ wlth our rewsi￿.11t￿5, ouuined above. to de￿1 rnate*ial misstatemants in rEspect irregularities. incI￿￿1n9 fraud. The extent to our Pr￿*￿$ are c8p8t4• of delecling rregJl8rrties, irKluding fraud is deta￿ed below. THE HUBB FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES Thè eryagement partner ensured that the engagèmont leJn o)IlactiV8ty had tha appropriat ¢omp6tence, capabilities and thILs tQ Klentity or recognige r￿-¢On￿lianCe Y*ith applicable la and regulallons". W8 id8nbfied the laws and reguL7tion8 appkable to the charila￿e comwy through discussions wrfh trustees and Dther monagernent. and from our commeroa kThjW￿dge and experience of the charity sector.. We focused on Spedr￿ ￿wI and regul8tsn8vkn¢h we oJnsKleod may ho￿ ¥ dire¢t m•tarial offo on the financial 9tatemernts or th8 oper8110￿ of the Charitsts￿ coThp8ny. in¥ludin9 th? C¢ynpanie$ Act 2008, data protection. anti-brit48ry. employment. 8nwronm8ntal and heath and safety We as6e8sed Ihe extent of compkaneè and regu*ionJ thntifi•Y above through moking enquiries of management and insp•cting ¢tsrwWnd￿c•, and Identified laws and regulalions ￿TI communi¢oted vthin th¢ audit 189rn regul8ty ond the 18om remainad aw to In81an￿3 of norKompl*nc• throughout the aud We 0$8M$*J the •LMceptt)thty of th& eharrtabl8 coffwy* ffinandal statements lo material ml$$tot•m•nt. Sn¢luding obt&'nw)g an under8tsndww of hud rwmocujr, by: Maklng •Th]uiri88 of man￿M•nI as to t￿Y con8kl•rnd Ilwre wai suacaptibiiity to fraud, their knowledge of aciu8J. 8uspectod and alleged fr•ud,' Con$i¢*dng the inlem81 ￿ntrOLl in PL￿ to mitigate ri•k• olfv•ud and non4¢mpli•nca wslh laws and ragul•tlons. Tc* addf•$• th• rf4k 01 fraud through marw•m•nt bJ"# And ¢)v•md• olcothkn, w•". Perbrm•d an•tytlcal pro¢¢dur•$ lo Klontrfy any urtu8u￿ or uwpKtsd rel8tiOn8hlp8; Te$led journal entriea to hlentify unusual transact￿8., A81••ged wh•lher ludgtmonts and aswmpt￿Jn8 made in deterrninlrvd the accou￿ng e8tlmat•J id#iilinwJ ¥¥ ¥illi￿1 wgie IrKI￿all￿# ui pvt¥nt*l b6¥0, Inve$tl9at•d the r8th)r8le behind 8vanfficant or unusual tran8xtiorn. Ir r11po￿ to the rt8k of I￿eqUI¥ll181 and non-¢(Mry)fi•n￿ wth laws MoulaUon8, de8lgned proudure$ which induded. but were not Ilmlted lo.. Agreeing finatKl818tatsm•nt disclo¥￿$ to undtstying supporting docwnentation: Reqding the minutes ol meetrngl". Enquiriw ol managemenl as to actual •nd potenll81 Iltig8tion •)d ¢lalm8', Rèviewng EorrupoTHlenGe with relDvant ￿9￿atorS and the Ctr•rI￿le corwany's W •d￿￿ra. Th¢r• are inherent limitat￿Tr8 in our audrt procedures descnbetl kn)￿. Th8 more ram0￿d Ihat labwd •nd regulaliong are frorn financ¥al transaction5, the less Ikoty It Is that *vuld become aware of non- complianc•. Au¢Jiling gt8nd8rds als¢ limTt thè audit procedures reqLYed to klenlfy non82 RESOURCES EXPENDED CharitAbl• AdMtJe8 IM30JO8 71J14 1,701.160 1.761.1 17,5T2 1,778,758 TOTAL RESOURCES EXPENDED IMJO. 71J04 1,701,W 1.761,1&5 17,572 1,778.75a NET IEXPEN(XTUREI I INCOME FOR THE YEAR 36,7ty1 IWJ) 1114,1101 12,6e6I 1118,7761 TRANSFERS BETWEEN FUNDS 12,ClX) I12,[￿1} NET MOVEMENT IN FUNDS 148.2741 11,6ni 1102.1101 114,e661 1116,7781 roTAL FUNDS BRC4JGHT FORWARD 11 70.148 124141 194381 172,2 138,807 311.C65 TOTAL FUNDS C4RRIED FORWARD 11 111042 I￿,71• 70,148 124,141 194289 All Income and 8xyndltur• deriv• from ¢onUnuiNJ a¢b¥ilies. The staternert of finanrAal activit￿ In￿ude9 all gains and kiss88 wlsed dudng th8 year. Pag& 12 THE HUBB FOUNDATION BALANCE SHEET As al 31 December 2024 2024 2023 FIXED ASs￿s Tangible IIx8d 88sèt8 4477 CURRENT ASSETS Debtor8 Cash at bank ¥NJ In hand 178.906 211434 51.017 496,372 394340 547.389 CURRENT LIABILITIES Credhtors.. AM¢￿ due wlthkn one yasr 10 (211101) (353,100) NET CURREKf ASSETS 183.239 194.289 NET ASSErs 18Y.Y10 194.289 FUNDS Unreslrlcted fund8 ReBtricted funds 11 12 162,842 24174 124,141 70,148 187.716 194.289 TheBe finandal 8tstsrnents 8pproved by thts tru8te•8 8rd auYwii•d for 198Uo on . and are 8lgned on its t4haMby.' Jaiié Savlye ISep26, 2025 15..59:07 GMT+II 2610912025 Mr8 H J g•wyer• Director and Tru$lee Coryyany Regknauon Number. 11707416 Rwistsrvjj Charity Number.. 1186026 Page 13 THE HUBB FOUNDATION STATEMENT OF CASH FLo￿s For the year ended 31 D￿M￿r 2024 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Net cash lexpenthtyre)f•Ko (SA69) 1116,7761 WORKING CAPITAL ADJUSTMWS Decre￿911￿¢rea8e} in debtcrt Increasèlldecrea8e} in credrto Purth•se of tangble fixed assets 1127.8891 1140.9991 15.581) 105,801 70,373 N•t Ce8h fim from operating *thilbes 14 1279.938) 59,398 Cath and cash equNakryrts at 1 Jarxmry 491372 436,974 Cash cash equ6vakrynts at 31 Decemt 211434 496,372 Page 14 THE HUBB FOUNDATION NOTES TO THE FINANCIAL sTATEME￿rs For the year ended 31 December 2024 1. ACCOUNTING POLICIES GENERAL INFORMATION The Hubb Foundation is a charltBble ¢tsmpany Imited by guarantee and is registered arnd incorporated in England and Wales. The registèrèd office is The ￿llehr￿Se. 566 Etruria Road, Newpast￿ Under Lymtr, Stsffordshn. ST5 USU. Tha wi*retJ ¢(4npany numbw 0 11707416. Th8 rtyist&rad charlty number Is 1186026. In the event of th8 charity b￿rrfd W￿ftd up. the Ih?bilty In rw*ct ol ￿ guarant•e is limited to £1 p rnember ofthe charity. The nature ol the charity's opw*Kin$ and Pri￿Apa1 actiwb'es are Ihe rel￿ ol yomg people and Ihelr farnilies in need beoguse of youth, fmancial hardship or other digacfvantsge Jpecfftally bth not exclussvely through thetr l•lsur• Om• a¢fjvltse8 and tknidcplng physlcal, mantal an(J spirstual capabilitie8 80 that they may grow lo fulty maturlty as irn1ivK1L*￿ and ¢onth"bub"ng member8 of Soc￿ty. BASIS OF PFIEPARATION Tho charity congtitutes a publK benefft enb.ty as d8fined by FRS 102. The fin8nci818t8tements have bBen prepared in accordance ¥*ith ACc￿n￿n9 and Repm by Charit*8'. StatementofRecommended Practice appli¢able lo ¢harrti&s pr¢paring Iheir accounts in accordaw wth the Finan¢i81 Reporting Standard applicable In the UK and R8pub16¢ 01 I￿19nd i•¥ued kn OEtober 2019, th8 Flnanclal Repc*lin standard applicable in the Uniled Kingdom and RepublK ol Irela￿ IFRS 1021, the Charities Act 2011 and LIK G•nwalty A¢￿pt*￿ A¢¢ourknng Prx*c•. Th? financlal gtatemenlg are prepared on a g￿ng ¢on¢¢m basss ￿￿er t￿ historical c08t convention. The ffinan¢ial 8talements arè prepared in BterfNig, whlch is the functlonal currew of the Charty. Monetsry wrounl$ in the8• fv)gtKfial stst•mtsnts ￿ rourKlod to ne•rtht £. The 819nrfKanl ac¢ounting polkies In Ihe preparatson of t￿￿e finanrAal 8tatements are 8et ￿Jt below. Tho$& poli¢i08 have bqen applied to dl year¥ we8ented unkn$B otherwise stated. GOING CONCERN Th8 financial ststem*nts have betsn mr¢d on a wng co¥K•rn baws. Th• TN$tt•8 ¥S*$8 wh&lh8r Ihe use of going cknncem is appropriaté and whether there ar• ￿Y matsrknql uneèrtav)t+as related t¢ events or conditions that may cast $ignfftanl doubt on the 8blkty ¢hgdty lo ¢onts"nuo a$ a golng conc•m. Th• Trust*e$ believe therè ar¢ èdequate resources wll enabl& the charity to meet its Ilablllties and continue In oparational existen￿ for ihetse8eeableftrturE. Therefore. the Trustses have adopted the going concem bag15 in prnparing th• fingnc*l 8tstements. DONATED FACILITIES Donated facilitses and donated profèsslmal $•vl¢es 8r• reCogni￿j In Income at their fak value ¥then their economic benefit i8 probable, it cgn be rreasured rdiabfy aThJ Ihe chanty has control overthe rtem. Fairvalu¢ 18 d¥tormined on the basis of the value of the gift to the tharfty. For example. the amournt the charity would b8 ￿111￿9 to pay in the open fflarkel for Such thlitE5 and $wvices. A coThe5ponolirrfJ amount F8 recc¥nisgd In Ixpw￿1tU1Q. INCOME All income ig ￿Cogn￿d On￿ th8 eharity has •nttl8m¢nt to th• trK4m•. ¢t*r8 Is $uffKl8nl certainty of r¢¢tipt and so it is probable thatthe Inec￿ne be received. and lh• amount of i￿om8 r•c&Nab￿ ean be measuted reliably. For donations lo be recognised the charfty will havg been notifwd of ihe amounts arKJ the setuement (late in WTiting. If there are conditions attached to the donaknon and hi$ requires a kvel Qf performance before entiuemenl Can be obl¥u*d then in¢omtr 1$ dofvrod until those condiéions are fulty met or the fuyilrnent ofthose CONlits)ns is y￿1hin the Contr￿ of Ihe charity and rtis probable that they will belulflled. Pagg 15 THE HUBB FOUNDATION NOTES TO THE FINANCIAL sTATEME￿rs For the year ended 31 December 2024 1. ACCOUNTING POLICIES COMTINUED INCOME No amount is included in the finandal statèmènts for ¥oluntwtin* in kne with the SORP. For legacie3. entitlernert is the earfier of the charity bemg notified of an impending di81rObutlon or th• legacy being reeei¥8d. Al this w'nt income is recogni8ed. On ￿9a￿e5 w￿1 be notified to the charity however ft Is not poswbkn lo m•a$ure t￿ •rTh)unt •xFrttsd to be distritrthd. On these occasions, the legacy is treated as a £￿tingent asset and dlscjosed. In￿￿ttfrom govemrnent rtheT grants a￿ reo)gnwJ atfair vaJe*fien the ch8rlty has gnlWrn•nt 8ft&r any perforrna￿e condrtionB have been met, il 18 probable Ihatthe ineome will be received and the amount ¢an b& m8osuf•d rellaw. ff enlltl•m•nt ￿ not met then ￿n￿ntS are deleffed. EXPENDITURE All &xpendltur•18 ¥ccounl•d for on an ac¢Nal8 b#08 and has been dasslflad und8r headings that gggregate am costs r•lat•d to the eattgory. Exptnditure 1$ rocogntsed ¥there there is 8 kggal or con81rucbve obligabon to make payrne¢7ts to third part￿, it 58 Pyobab￿ th•t setUom¢nt wll b• required and the *m¢unl of thtr oUwtion ¢•n bè moa*Jr•d r•li•bty. Irrecoverable VAT Is Lthargad as an againlt tho athity exwdlur• aro80. SUPPORT COSTS Support CO8t8 ala those that a$8iSt Ihè woth of th• ¢haiity but do rK)t dlrectly represent the ¢haritable xINities and indude office costs aThJ g0Vema￿ costs. They are inrjjrred drectty In 511PPDrt ot expenditurè on objeth olthe Chanty ard indude prq'ect managon*nt ¢arried wt al Headquattsrs. Wher• SYFWI ¢o$ts c¥nnot te directy attllbuted to paffj"oJlar headln65. Ih•y hav• been allocated to expenditure on ch•ritabl• 8¢tNItkn on 8 ba81• conslstenl wllh of r•8wrces. An anafy8i8 of the8• COBts is induded In note 3. TANGIBLE FIXEDASSETS Tangible a888ts ar• inibally recorded 8t co•t. and wb1•q￿ *t•d at CO8t leu aCC￿nu1•ted d8pr8ciation and Impalrm•nt Iou•8. DEPRECIATION DepreciatK)n is calculated 80 as to *Ylta off th• cost of an asset, le￿ ts residu￿ ¥a￿e. over the ugefvl economic lite of Ih8t aBset as fcllm.. Offka •qulpm•nt- 33.3% straitht line. Depreciation r8 chwged from tho month of acqulsith)n to tha month of dBF¥Jsal. TAXATION The compary is exernpt from irKome lax under geci￿ Part 11 ofthe Corporabon Taxes Act 2010. No tsx charges have arisen in the charity. FUNDS Unrestricted funds are avaikible fc¥ use at ts discretion of the tr￿tee5 in furtherance of the general ¢bje¢tlves of the ¢hartty and whK* have not been designated for other purposes. Restricted funds are fvnds whlch are to be usett in accordance ￿1h speoflc restrlctrcffls knposed by donors or which have been ￿Sed by the cl￿rity for partiCu￿r purposey. The cost ol raising and Jministering such funds am charge(1 againstth8 s￿￿kfvnd. T￿￿01rnand use ofeath rpBtrrted ftjrnl set out in the notes to the ffinaneial statements. g916 THE HUBB FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 De￿M￿r 2024 FINANCIAL INSTRUMENTS The charity C￿lY has financial assets and fwbilitie8 of a kn'nd that qualfy as bax fmanaal instruments. Basic financial in51rum¢nls are ￿ltialty re¢ogni3¢d at trarwSe9. R••trl¢t•d fund• Restrlct8d fund$ ar* fur¢y$ which are to be used in accordarKe wth wjeofic rejtr+ct￿j￿s imposed by donors or which have Lwn r8i¥ed by the charity for paiticular purp)su. The ¢osl of and administering Buch fvnds are charged 898inst sp¢ofi¢ lund. Pago 21 THE HUBB FOUNDATION NOTES TO THE FINANCIAL STATEMEMrs For the year ended 31 Decemt*r 2024 12. RESTRICTED FUNDS BaLanc6 Transfers at Start of Incoming Re9our￿ betsyeen year resources expended lunds B•lant• at•nd of yaar Year ended 31 December 2024 Donated Be￿￿8$ HAF Contract Hubb Pots Pr¢ie¢t Communty Foundat￿ OpeniroJ Schools F&Nth•s Cty of Stoke on Tffjnt C¥ilal FLmd National Lottw Awards Fcff Al Middleport Matters Education Endowment FLmd Olher CommLmty and Grants 13,5CKI {13.YJOI 1.404,164 {1,404,1641 53,750 {101,852) 62,500 164,808) 22,124 122.124) 4,368 55.774 9.683 7.672 7,375 3.187 1761 400 2.540 4.950 9,597 16.7011 14.14T) P,5401 19,2891 5,860 10,08e 70.148 1.692.S32 11.630.3C61 24074 881ar at Btsrt ol y••r Tr•nsfer¥ InC￿lInll Rasourc88 b&tt¥aon r••our¢￿ •y•TrJ•d lund• 8•l•n¢• t•ndof Year ¢nd¢d 31 0e¢•mb•r 2023 Donated S￿08 HAF Contrarl Hubty Pots Proje¢t Community Foundation Opening Schoo18 FacilIt￿3 City ol Stoke on Tront Caplto1 Fund National Lottery Awards Bauer Radhj Cash For Kid8 North Staffs Ftsjd Nèt PAiddleport Matters EdUCat￿n EndOV￿errt FurKI Other Community Donations and Grants 8e Valiant Ctynmunty Prcie¢t Tesco 8ags for ￿le 25.5C 125,5001 37,480 1,404,200 11,441,660) 68.880 78.750 191.8561 74.716 165,0331 37.833 137.8331 11,632 121.6321 66.774 9.683 10,0 4,950 4.500 2,595 2,400 13,1991 14,5001 12,S951 12,QOO) 153.978) I7.f￿0) 1,751 44,518 12,000 I1.(￿0) I2.￿￿) 172.258 1.647,076 11.781, 186) 12.000 70.148 THE HUBB FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 D￿rnber 2024 13. ANALYSIS OF NET ASSEfs BETWEEN FUND3 Unrn¥trictod R•Jtrktsd Funds Funds Total 2024 Fixed assets Debior8 Cash and bank and i) hand Creditorn.. 8m¢unts falliry due yogr 4,477 4,477 3.175 175.731 178,906 182.183 34251 216.434 {26,993) 1185,1081 1212.101) 162.842 24,874 187,716 Unrn•trlct•d RMtrfct•d Funth F￿dI Totsl 2023 Debts3 Cash and bank gnd in h• Credth.. omwnts fallirrfJ due one year 859 50,358 61.017 139,527 3S6,845 496.372 {16,04S) 1337,0551 13113,100) 124.141 70,148 14. ANALY818 OF CHANGES IN NET FUND8 1 JaNary 2024 Cash fitY•rn 1 D•¢•mb•r 2024 Caeh 8t bank and In hand 496,372 (279,938) 216.434 16. PEN810N COAMIITIIENTS The Chprty operales a defined ￿￿bution pension vtherre. The a55ets of the schem8 are held s•p¥ro10ty tts those of the Charlty in an in￿￿ndenlty $drn￿￿ternd fijnd. The pension co8t charge represents contritxJlion¥ payable by the Chgrtty to the and amuuTrted lo £19,94012023'. £10,451>. Contributions totalling £3.08012023.' £nd} *tre payable to the fuTrJ at tha balanc• $h*•t ¢Jate. P*999 23 THE HUBB FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 D￿mber 2024 16. RELATED PARTY TRANSACTIONS At the yèar*nd £nil 12023.. £nill was due lo Synectu Solubors knnited, a company wth Eornm directors. During the year Synectics Solulions Limited inojrrtrj costs totalling £114.959 12023". £180,513) on behalf of the chanty. Répayments wvre made lo SY￿￿￿$ Sojubons LJmit8d during t year totalling £114,959 12023.. £180.5131. Synectics Solubons Umited rtsem made donat￿n$ to thg charity totalling £40012023.. £5¢)01. Synecl'cg s0kn1￿s ￿mrted also d(ffiated services totalling £13.500 12023.. £25,500) during the year. At the year-end £nil12023.' £nill wasdue lo POrtva￿ Fcyjndation TnJsL a chartywilh common directori. During the year Port VaL* Foundation Tw81 Invo￿¢￿ Ihe charity £28.62912023.' £36,579) for the Juppty Of ¥ervices. Repayrnents were made to Port Vaè F￿ndatItin Tntst duriny the year totaling £28,629 2023." £38,629). pc￿ Vale F￿ndatsOn TrL*t rts•W mgde d¢nalkn4 to charity totallmg £nil 12023.. £6001. At th8 year4nd £nil12023.. thll was to Port Valo Foolball Club Llnrt•d, 8 wany th common diréLlors. During the year Port Vak Football Club Limrted invoicedthe charty £38812023.. £4791 for th8 oupply 01 $ervi¢trs. Repayments made to Port Vale Football Cknb Limited during the year totalling £36812023.. £4791. Port Vakn Foothall Club LThnit•d W made (kn•Oorty to th• ¢harty totalllng £Thll (2023.. £nill. Durlng tho year, Mr8 CA Shonahan. *trJ • Tru#tet for pxrt dlhe yw. don•ted £1QJ,000 to the charity12023.' £nlll. Pa98 24