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2024-06-30-accounts

Charity Number: 1200251

Hidden Treasure Trust CIO

Report and financial statements

For the period ended 30 June 2024

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Hidden Treasure Trust CIO Reference and administration information

Charity number 1200251

Registered office and operational address

Operational name ‘The Hideaway’ The Hideaway Partington Shopping Centre Central Road Partington Manchester M31 4EL

Registered address of subsidiary Hidden Treasure Discovery Centre CIC

As above

Trustees

Trustees who were appointed during the period and up to the date of this report were as follows:

Jonathan Burr chair (appointed 10/09/2024) Susan James Karen Greenhalgh Rebekah Stacey Christopher Anthony (resigned 30/09/2024) Laura Jones (resigned 30/09/2024)

Key management personnel

Ruth Lancey Chief Executive

Bankers

Unity Trust Bank, 4 Brindley Place, Birmingham, B1 2JB

Solicitors

Slater Heelis, 1[st] Floor, Crossgate House, 47-55 Cross Street, Sale, M33 7FT

Independent Examiner

Kate Adderley CA

Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester M60 0AS.

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

The Trustees present their report and the audited financial statements for the year ended June 2024.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The formal objects of the CIO are:

The relief of financial hardship among people in greater Manchester by providing them with goods and services they could not otherwise afford through lack of means.

To provide or assist in the provision of facilities in the interests of social welfare for individuals and families residing in greater Manchester, and the surrounding areas who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their quality of life.

To advance the education of the inhabitants of greater Manchester, and the surrounding areas in such ways as the charity trustees think fit, to enhance their ability to gain employment and to strengthen family relationships.

To support the welfare of children in greater Manchester, and the surrounding areas so that they can advance in life through:

(b) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.’

The charitable objects of the organisation can be summarised through its mission statement:

Our Mission: to reverse poverty for families and vulnerable people using education, relationships and practical support to bring life-transforming help, hope and joy.

By creating unique community hubs in areas of high deprivation, we bring together partners to create a thriving open-access, barrier and stigma-free community for learning,

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

playing, building relationships and accessing all support needed in a central and welcoming ‘third place’.

Charitable Status

Hidden Treasure had been operating as a CIC under the name Hidden Treasure Discovery Centre CIC and was first registered in May 2017. We began operating in April 2018 with the opening of The Hideaway in Partington Shopping Centre. Over the years that followed, the operations, community support and wraparound services delivered developed as we responded to the changing needs of our community -particularly through the covid pandemic and Cost of Living crisis.

In September 2022 we formerly registered Hidden Treasure Trust CIO as a charity with the charities commission in England and Wales, and started the process of transferring all assets and undertakings that were charitable to the charity, and maintaining the CIC as a trading subsidiary under the sole ownership of the charity. This process and transition took a number of months during the previous financial year, and the year ending June 2023 is the first full financial year in which all the charities accounts are reflected in the same set of financial statements.

A developing Model for Change

Hidden Treasure Trust have created a unique model for change with an overall aim of ‘Strength for today, hope for tomorrow’. The model for change is about creating a large central resource – a community hub in which we can work together with partners and stakeholders to maximise our resources for the benefit of those in need. The model has been tried and tested, and is constantly growing, evolving and adapting to the needs of the world and community around us.

Built on a framework of love, joy, hope and equity, each hub and partners must adhere to a core belief that every person has infinite value, potential for good and equal worth.

The Hideaway play space, Hope Centre community hub and community Café/Restaurant is our front door to welcoming all people in.

From there people are encouraged to access all relevant services, groups, courses, training, resources, support and information available.

Learning and education – This aspect is core and begins right at our primary front door – The Hideaway. Our unique play area will be central to every hub and focusses on a huge range of early years development areas with an aim to grow children in both fine and

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

gross motor skills, improve speech, language and communication, help them develop social skills and enhance school readiness. Beyond Early years the addition of After school clubs, special sessions for targeted groups and in supporting the mental health of older children and teens both in-house and in local schools is a key element of our Learning and Education focus. This focus continues right through to adults and will increasingly include volunteer training and back-to-work programmes, parenting classes and groups, life skills classes and a vast range of other workshops and classes. The model offers a rolling programme of classes and courses through the family team, the Hope community team, through partners in specialist areas and through individuals offering less formal learning opportunities.

Live Well – This is all about helping people to make healthier choices, both practically and from a mental health perspective. It could cover support groups, life skills, basic health services, supporting local health campaigns, providing healthy food and meals, cooking and nutritional education and much more. This is a project which has been established during this financial year and is already seeing success and potential for significant growth.

Practical provision – This currently includes a Food Pantry which provides basic essentials which are free or affordable, and an information and advice signposting service. It also includes school uniform for all families and a free book exchange. A Household Support Fund provides immediate help and assist in emergency situations. Practical provision could also include new toys, free children’s meals during the holidays, hot meals in an emergency, co-ordination and sourcing of second-hand goods, a baby or family bank, gardening support and DIY help.

Strengthening relationships – Strong relationships are vital to our personal wellbeing and growth, particularly those between children and their families. We offer a range of fully accessible leisure facilities to enable families to spend fun, quality time together. In addition, we offer themed play or activity sessions, trips or weekends away, social groups and activities, family 1-1 support, prayer and social courses for fun rather than education.

Growing resilience – This category covers many of the areas already mentioned, but is a key focus of many of our activities. Both the Hope and Family teams at all hubs will have growing resilience as a priority, whether that’s to help families become stronger together, to increase positive health outcomes, to provide financial or budgeting support along with practical help and improve financial resilience or helping children (and in some cases adults) to grow in emotional resilience through play activities, children’s support services or parental education.

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Objectives and Activities

Through 2023-2024 our charitable objectives have been met through the delivery and development of 4 primary projects in Partington:

Achievements and performance

The charity's main activities and who it tries to help are described below. All its charitable activities focus on children, families and those in hardship in Greater Manchester and are undertaken to further Hidden Treasure Trust CIO’s charitable purposes for the public benefit.

The primary goals set for the year were:

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Trustees’ annual report for the year ended June 2024

Hidden Treasure Trust CIO

The Hideaway

Activities

The Hideaway supports the welfare of children in Greater Manchester through the provision of a unique, educational play centre. In January 2023 to fulfil our objects of supporting the welfare of children in Greater Manchester and provide leisure and recreational facilities we became the first Pay What You Can (donation based) play centre in the UK.

All families regardless of their financial status are welcome to visit our centre and use all of our facilities free of charge. Donations where possible are welcome.

The Hideaway fulfilled our charitable objects this year through:

Through this year the Hideaway saw over 33,500 unique children visit the centre and benefit from all that’s on offer.

Over the coming year the Hideaway aims to:

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Trustees’ annual report for the year ended June 2024

Hidden Treasure Trust CIO

Finances

Over the coming year we anticipate maintaining similar staffing levels to continue running the additional services and wraparound care on offer at The Hideaway. We are looking for sponsors and social value investors to support the on-going maintenance costs and development of the Hideaway play space.

We have invested this year through existing staff in additional marketing and fundraising, but we recognise there is much more potential for growth which can lead to greater financial stability. Our CEO is currently partaking in an entrepreneurial training programme and will be pitching for financial investment and support in marketing during the next year.

The running of the Hideaway can at present support itself, however it does not generate enough income to cover all of the additional non-income generating services which form part of our charitable offer. Additional income generating opportunities will be considered over the next year including utilising take-away food delivery services and opening our restaurant in the evening.

Long term objectives

Long term, our core objective is to take the model for change we have created and replicate this in other areas of Greater Manchester which are struggling against high levels of deprivation. Initially, this will be done under our name and charity however if the second hub is successful, we will look to develop a franchise model in which the core elements remain the same, but the model can be adapted to help other organisations in their context.

This plan for growth supports our objects in that it enables us to reach far more than the number of children who currently visit the centre. In time we hope that all children across Greater Manchester will have access to a Hideaway and all of the facilities and support available through it.

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

Hope Centre Partington

Activities

The Hope Centre is a community hub which incorporates a food pantry, a household support fund, information and advice service and second-hand school uniform for those living in high levels of deprivation and need. It supports our core objectives of relieving financial hardship both by providing immediate practical relief, and by long-term relationships addressing a holistic range of barriers which may prevent people from improving their circumstances.

In January 2024 following a 12 month trial, we made the decision to move The Hope Centre back out of the Hideaway and to its former home at the heart of the estate on Wood Lane. The original move was a cost saving exercise, but the landlord (Your Housing Group) offered to give us the building rent-free and cover bills.

Moving the Hope Centre back to its original home proved to be a good move. We were able to re-arrange the space creating a small, open café and seating area as well as a private booth for conversations. Membership to the pantry immediately increased following the move, and the new layout has provided better space for partnerships, drop-ins and community support.

In 2023/24 The Hope Centre provided:

When asked where they would go without the Hope Centre, 227 would have to borrow or steal, 105 would skip meals, 22 would harm themselves or see a doctor.

Membership

Access to the food pantry is via annual membership. Membership is available to all Trafford residents. During the membership and renewal process, all potential members are required to have a 1-1 triage with one of our team members. During this process the applicant must explain their circumstances, and go through a formal questioning process to ensure that they have genuine need and are facing long term hardship. We work hard to balance dignity, compassion and care whilst ensuring that those in receipt of the Hope

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

Centre support are genuinely in need of it. This process also gives us a good opportunity to identify other areas that we may be able to support with – either internally or through referrals to partner organisations.

All who request other types of help such as energy top ups or face a range of personal issues undergo a similar triage process before help is given. This enables us to ensure that the beneficiaries are both in genuine need, that we are the most suitable organisation to provide help and that relevant referrals can also be made.

Finances

The basic funding for the running of Hope Centre is secure for the next financial year, however, this, along with support from Your Housing Group covers the most basic services which are covered by the MOU agreement between ourselves, L&Q Housing and Trafford Council – our building, a centre Manager and some administrative costs. The additional staff required for the triages, running the pantry and deliveries are not covered.

Currently we receive £20,000PA from the government Household Support Fund towards the costs of emergency help provided. This is due to end on 31[st] March 2025. Further support will be dependent upon government announcements.

The Hope Centre self-generates around £20,000 per year from membership fees (£5 per year) and contributions towards food bags (pay it forward scheme available for anyone unable to contribute). The short-fall is funded through grants, business support and fundraising efforts. We have recently grown supply of regular food donations which in turn reduces our running costs.

Long term objectives

The lease on the Hope Centre building was due for renewal in June 2024. Although the lease renewal details have yet to be agreed and formalised, the landlord (Your Housing Group) have agreed that we are able to keep the building rent-free while they agree the details internally. We have requested a 10 year lease with a 5 year break from the landlord and a peppercorn rent. We will seek additional partners to help fund the running of the centre, and provide finances to assist with the purchasing of food that is not donated.

As we look to grow to other sites around the city, the inclusion of practical help will be a key part of the plans for new hubs. Working closely with families and those who are vulnerable or living in poverty, it’s almost impossible to provide long-term, holistic support without first meeting the immediate practical needs you’re faced with. We will look at other provision available in an area, and ensure that future Hope Centre’s are

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

complimenting existing services and meeting genuine needs and not simply replicating the demand in Partington.

Family Team

Activities

The Family Team covers a range of services which meet our object of advancing education and strengthening family relationships. They work across both sites with all teams, ensuring that those we meet in both The Hideaway and Hope Centre have additional support available and somewhere to go in order to improve their life.

Financing the team has been a challenge this year due to council and school cuts and the challenge in accessing grant funding in the current climate. This has led to a small and hopefully temporary reduction in 1-1 support and an end to supporting the local High School in July 2024.

The Family team enable much of the groups within the Hideaway to take place and this year includes:

Finances

Finances for this team are largely coming to an end and will impact on service delivery next year. Groups and classes and donation based which will allow most of them to continue. Additional funding will need to be found for the SEND support delivered and 1-1 help will temporarily need to halt for new case-finding.

We will continue to deliver as many groups and courses as possible ourselves as well as partner with others for them to deliver funded courses in our space. We will continue to work alongside the council who are pro-actively seeking new funding opportunities and

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

have requested that we become an official ‘Family Hub’ as part of the Trafford-wide family hubs network. We are hopeful that funding provision can be found over the next year, but must look to reduce services and reduce costs in the meantime.

Long term objectives

The long-term objectives for this team in Partington are as follows:

Live Well team

Activities

The new Live Well team focusses on delivering objectives around health and wellbeing. It recognises that health inequalities have a significant impact on quality of life and life expectancy, and aims to provide complimentary support to our local NHS services in reducing health inequalities. The long-term conditions support is NHS funded and we have been specifically approached to both deliver and co-ordinate this project on their behalf, recognising that we are in the strongest position in our community to successfully deliver this. Beginning in this financial year, the project is funded to and will initially address:

Looking into the next financial year we hope to incorporate addiction support services, fitness classes, increase social activities to address social isolation and provide additional 1-1 support for those who need it.

Beneficiaries of our services

During the year 2023/24 the target beneficiaries of the Hope Centre services and Family Team services included families and households in poverty across Trafford borough and Greater Manchester.

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

At the Hope Centre, all beneficiaries of the food pantry and practical support services must be members. To become a member, individuals must undergo an application process and interview which includes checking the ID and address of the individual, and confirming the financial and employment status of the individual and evidence of any other extenuating circumstances. In this way we ensure that those in receipt of support from the Hope Centre are genuinely in need of charitable services.

At the Hideaway, families from across Greater Manchester visit the centre, with the majority of families local or from the Trafford area. Children from the region benefit from the educational play space which surveys show helps to develop the confidence, skills, social development and school readiness of visiting children. The Hideaway also provides recreational activities for children who could not otherwise afford such activities using a unique ‘Pay What You Can’ optional donation-based entrance charge.

In reviewing the performance of the charity, trustees consider the number of people who have accessed the range of services, support and activities, and compare these to the target numbers and total potential capacity. The trustees also consider feedback forms gathered, comments and surveys, case studies and a range of statistical data which is maintained as part of feeding back to grant funders.

Financial review

The charity acquired the CIC subsidiary Hidden Treasure Discovery Centre CIC on 1 January 2023 and is exempt from preparing group consolidated accounts for the period ended 30 June 2024 as the parent and group below it qualify as small under FRS 102.

The total income for the charity for the year was £830,792 which was made up of £767,973 from the Partington CIO, and £62,819 for the CIC trading subsidiary. The total cost of sales and expenditure for the year was £861,460 (CIO expenditure) and £55,813 (CIC) totalling £917,273. This shows a loss for the year of £93,487 in the CIO which was covered by £130,010 brought forward from the previous year.

The loss for the year includes an accrual for £34,416 for additional landlord service charges for previous years that was received in October 2024. These service charges relate to an actual meter reading by the landlord's energy provider who had previously been relying on estimates. The CIO has been making provisional payments by instalments but the final amount of the settlement is still in negotiation.

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

Aware of the challenging previous financial year for the charity and financial challenges facing the charity, by March 2024 the Trustees carefully considered whether the charity was still a going concern and on 2[nd] April 2024 called an extraordinary meeting to discuss the situation. The Trustees concluded that the charity was still a going concern, but that all options must be considered in relation to necessary cuts, loans and investment. A charity loan was declined with a note to re-visit once the Stockport project was underway and the charity was more financially stable.

Within a few months funding for several new projects had been secured, and that combined with savings and a rainy year (driving more families indoors and higher visitor and income levels) by the end of the financial year although the figures for the year were not as strong as hoped, there were a number of funding sources secured and expected in addition to new projects which would take effect during the next financial year.

The CIO and CIC currently raises roughly half of its funds from self-generated activity – primarily donations to the Hideaway, use of the café, Hope Pantry donations and children’s parties (through the CIC). The other half consists of regular grant funding from Statutory services and Housing Providers through an on-going MOU, commissioned service contracts, personal and business donations, sponsorship and grant funding.

Over the next 12 months whilst the new secured contracts and commissioned services will provide a lifeline for the charity, they can’t be guaranteed as long-term stable sources of funding and should be viewed as a bonus, but do enable capacity to focus on building longer-term stability. This will be done through investing in a new marketing and fundraising strategy and seeking out new local, stable income generating-opportunities in-line with our aims. The aim is to:

Long-term, although this project has faced significant delays due to circumstances outside our control, the charity is looking to grow by adding a 2[nd] site in Greater Manchester which can both have a significant impact on the local community and meet our charitable objectives and create additional income generating opportunities which will bring longer term stability to the charity. The trustees anticipate that over the next 12 months finances may remain tight and financial caution will be required. Long-term, the outlook for the charity is more positive with a financial forecast that shows in 3 years’ time a strong financial situation and minimum 3 months of operational reserves in the bank.

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Hidden Treasure Trust CIO Trustees’ annual report for the year ended June 2024

Reserves policy

The aim of the reserves policy is to ensure that the charity’s ongoing and future activities are reasonably protected from unexpected fluctuations in its income and expenditure. The board reviewed the reserves policy and agreed that a minimum level of unrestricted general funds, also known as free reserves, of £100,000 is appropriate given the risks faced by the charity and the sustainability of its different income streams. As at 30 June 2024 unrestricted funds were deficit £38,489.

Due to the global financial challenges of the last few years through the Cost-of-Living Crisis, this has gradually drained the financial reserves of the organisation. A priority for the charity over the next 2 years is to rebuild the financial reserves and ensure that the future sustainability of the charity is secure. This will primarily be done by investing in areas the charity is currently weak for its size – marketing and fundraising. The Trustees believe that by investing in these areas along with growing a number of potential trading income streams, this will secure the financial shortfalls currently experienced by the charity. In addition to this, the Trust is progressing with plans to open a second, much larger site in 2025 which has significantly greater income generating potential as well as social impact potential. Cash flow projections show that within 3 years the charity should have substantial operational reserves and growth potential for the future. The Trustees are satisfied that the charity is a going concern.

The trustees view is that the amount of reserves required should be less than 3 months’ operating costs (£100,000 rather than £165,000) as commissioned projects with reserved income should be excluded from the calculations as without this income, we would also not incur the related costs of those projects. This will be reviewed if the plans for growth progress as hoped.

Plans for the future

The trustees believe that the charity should consider significant growth as part of its long-term future. During the next 3 years the charity aims to:

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

Structure, governance and management

The charity operates with 5 trustees and is run on a day to day basis by a CEO, team of managers, staff and volunteers who are accountable to the trustees.

Hidden Treasure Discovery Centre CIC is owned by the charity, and operated by 3 Directors; 1 trustee, the CEO and a senior manager of Hidden Treasure Trust. It is run for the sole benefit of the CIO as a trading subsidiary through which children’s parties are provided. In the event that a second site is built, that site will operate it’s own CIC in the same way in order to keep the organisation separate and financial information clear.

Day to day decisions on behalf of the charity are taken by the CEO, Ruth Lancey, with the help of the management team. All significant financial decisions including changes to the charging model, staff pay rates, loans, lease or legal information or significant grant applications are referred to the trustees beforehand. All new projects, new staff roles, important policy changes are referred to the trustees for input and sign-off. The trustees from time to time refuse such requests if it is not felt to be core to the objects, inline with the aims or in the best interests of beneficiaries. The CEO is responsible for presenting new projects, and ensuring the trustees have access to all the information they require or request in a timely manner.

New trustees

If the trustees believe the appointment of a new trustee is necessary, the trustees and CEO will discuss the specific areas of expertise or requirements for such a trustee. Trustees, managers and senior directors may propose suitable candidates and, with permission, approach such candidates to ascertain interest. If 1 or more candidates are found to be suitable, they will be interviewed by the other trustees and the chosen candidate appointed.

The charity is a charitable incorporated organisation (CIO) registered as a charity in England and Wales on 2[nd] September 2022.

In the event of winding-up, members of the charity have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. The Trustees are members of the charity, but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.

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Hidden Treasure Trust CIO

Trustees’ annual report for the year ended June 2024

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 11 to the accounts.

Related parties and relationships with other organisations

Hidden Treasure Discovery Centre CIC is a trading subsidiary of the charity, trading for the sole benefit of the charity.

Remuneration policy for key management personnel

Pay scales for all staff are agreed by the trustees before 1[st] April annually. The charity is working towards paying all staff as a minimum the real living wage, with managers receiving an equivalent pay rate for a commercial enterprise outside of London, taking into account the charitable nature and financial limitations of the charity.

Risk management

The trustees review risk, threats, systems and procedures at each quarterly meeting. The trustees work to identify solutions and systems in order to effectively manage and reduce any risks.

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to:

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Hidden Treasure Trust CIO Trustees’ annual report for the year ended June 2024

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

28 / 04 / 2025 The trustees’ annual report has been approved by the trustees on …………………… and signed on their behalf by

……………………………………………..

Jonathan Burr

Trustee

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Hidden Treasure Trust CIO

Independent examiner’s report to the trustees for the period ended 30 June 2024

I report on the accounts of the charity for the period ended 30 June 2024 set out on pages 19 to 40.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in Scotland (ICAS).

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Other matters

Your attention is to drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

Independent examiner's 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:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

28 / 04 / 2025

Kate Adderley CA Third Sector Accountancy Limited Holyoake House Hanover Street Manchester, M60 0AS

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Hidden Treasure Trust CIO Statement of Financial Activities including Income and Expenditure account for the year ended 30 June 2024

Unrestricted
funds
Note
£
Income from:
Donations and legacies
3
260,958
Charitable activities
4
299,910
5
1,641
Investments
6
664
Total income
563,173
Expenditure on:
Raising funds
7
21,775
Charitable activities
8
638,534
Total expenditure
660,309
10
(97,136)
Net movement in funds for the year
(97,136)
Reconciliation of funds
Total funds brought forward
58,647
Total funds carried forward
(38,489)
Net income/(expenditure) for the year
Other trading activities		 Restricted
funds
£
204,800
-
-
-
204,800
-
201,151
201,151
3,649
3,649
71,363
75,012		 Total funds
2024
£
465,758
299,910
1,641
664
767,973
21,775
839,685
861,460
(93,487)
(93,487)
130,010
36,523		 Unrestricted
funds
£
202,875
137,311
3,266
72
343,524
14,128
270,748
284,876
58,648
58,648
-
58,648		 Restricted
funds
£
140,492
-
-
-
140,492
-
69,129
69,129
71,363
71,363
-
71,363		 Total funds
2023
£
343,367
137,311
3,266
72
484,016
14,128
339,878
354,006
130,010
130,010
-
130,010

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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Hidden Treasure Trust CIO

Balance sheet as at 30 June 2024

Note
£
£
Fixed assets
Tangible assets
15
108,209
Total fixed assets
108,209
Current assets
Stock
923
Debtors
16
70,730
Cash at bank and in hand
17
67,589
Total current assets
139,242
Liabilities
Creditors: amounts falling
due in less than one year
18
(191,428)
Net current assets
(52,186)
Total assets less current liabilities
56,023
Creditors: amounts falling
due after more than one year
20
(19,500)
Net assets
36,523
The funds of the charity:
Unrestricted income funds
22
(38,489)
Restricted funds
21
75,012
Total charity funds
36,523
2024		 £
£
124,174
124,174
1,635
46,890
62,708
111,233
(100,897)
10,336
134,510
(4,500)
130,010
58,647
71,363
130,010
2023		 £
£
124,174
124,174
1,635
46,890
62,708
111,233
(100,897)
10,336
134,510
(4,500)
130,010
58,647
71,363
130,010
2023
124,174
10,336
134,510
(4,500)
130,010
58,647
71,363
130,010

For the year in question, the charity was entitled to exemption from an audit under section 144 of the Charities Act 2011. The Charity Commission has not ordered an audit to be carried out under Section 146 of Charities Act 2011.

The notes on pages 22 to 40 form part of these accounts. 28 / 04 / 2025

Approved by the trustees on …...................... and signed on their behalf by:

Jonathan Burr (Trustee)

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Hidden Treasure Trust CIO

Statement of Cash Flows

for the year ending 30 June 2024

Note
2024
£
Cash provided by/(used in) operating activities
24
(1,025)
Cash flows from investing activities:
Dividends, interest, and rents from investments
664
Purchase of tangible fixed assets
(1,008)
Cash provided by/(used in) investing activities
(344)
Cash flows from financing activities:
Cash inflows from new borrowing
6,250
Cash provided by/(used in) financing activities
6,250
4,881
Cash and cash equivalents at the beginning of the year
62,708
Cash and cash equivalents at the end of the year
67,589
Increase/(decrease) in cash and cash
equivalents in the year		 2023
£
195,333
72
(132,697)
(132,625)
-
-
62,708
-
62,708

21

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Hidden Treasure Trust CIO meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling.

Hidden Treasure Trust CIO was registered as a charity with the Charity Commission for England and Wales on the 2nd September 2022. Hidden Treasure Trust CIO acquired the subsidiary on 1 January 2023 becoming the sole member and person of significant control.

Hidden Treasure Trust CIO is exempt from preparing group consolidated accounts for the period ended June 2024 as the parent and group below it qualify as small under FRS 102.

22

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

b Preparation of the accounts on a going concern basis

The trustees consider that there are some uncertainty about the charity's ability to continue as a going concern. The charity is currently experiencing funding challenges. To address this the charity has reduced expenditure, put in applications for new funding opportunities and looked to create new income streams. The Trustees are confident with these interventions the charity will be able to continue as a going concern.

c Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

d Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

f Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds comprise staff costs and the costs of fundraising events and promotion.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 9.

i Operating leases

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.

j Tangible fixed assets

Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Leasehold improvements 15 years being remaining life of the lease Equipment 5 years

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

k Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

l Stock

Stock is included at the lower of cost or net realisable value. In general, cost is determined on a first in, first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving, and defective stocks. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

m Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

n Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

o Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

p Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Loans that are not on commercial terms are treated as public benefit entity concessionary loans, in accordance with FRS 102. This means the carrying value in the accounts is the amount originally received for the loan, less any repayments. The loans are not discounted.

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

q Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 10. There were no outstanding contributions at the year end.

2 Legal status of the charity

The charity is a charitable incorporated organisation registered with the Charity Commission in England and Wales and has no share capital. The registered office address and that of its subsidiary is disclosed on page 1.

26

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

3 Income from donations and legacies

Unrestricted
£
Donations
136,224
Grants
119,908
National Lottery Community Fund – North West Region
-
-
Other donations in kind
4,826
Total
260,958
4
Income from charitable activities
Unrestricted
£
Hideaway door entry
60,804
Community café sales
201,868
Hope Centre sales
31,453
Hope Green income
4,545
Family support group income
1,240
Total
299,910
Donation in Kind from Hidden Treasure Discovery		 Restricted
£
24,021
165,779
15,000
-
-
204,800
Restricted
£
-
-
-
-
-
-		 Total 2024
£
160,245
285,687
15,000
-
4,826
465,758
Total 2024
£
60,804
201,868
31,453
4,545
1,240
299,910		 Unrestricted
£
82,235
40,659
-
76,686
3,295
202,875
Unrestricted
£
27,549
95,165
12,959
1,569
69
137,311		 Restricted
£
28,890
49,620
-
61,982
-
140,492
Restricted
£
-
-
-
-
-
-		 Total 2023
£
111,125
90,279
-
138,668
3,295
343,367
Total 2023
£
27,549
95,165
12,959
1,569
69
137,311

27

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

Sales of donated goods
Income from fundraising events
6
Investment income
Income from bank deposits
7
Cost of raising funds
Staff costs
Fundraising event costs
Marketing
Governance costs (see note 9)
Support costs (see note 9)		 Unrestricted
£
1,515
126
1,641
Unrestricted
£
664
664
Unrestricted
£
13,178
4,316
1,742
539
2,000
21,775		 Restricted
£
-
-
-
Restricted
£
-
Restricted
£
-
-
-
-
-
-		 Total 2024
£
1,515
126
1,641
Total 2024
£
664
664
2024
£
13,178
4,316
1,742
539
2,000
21,775		 Unrestricted
£
2,839
427
3,266
Unrestricted
£
72
72
Unrestricted
£
10,183
965
1,632
461
887
14,128		 Restricted
£
-
-
-
Restricted
£
-
-
Restricted
£
-
-
-
-
-
-		 Total 2023
£
2,839
427
3,266
Total 2023
£
72
72
2023
£
10,183
965
1,632
461
887
14,128

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

8 Analysis of expenditure on charitable activities

Staff costs
Other staff and volunteering costs
Premises costs
Cafe purchases and direct costs
Family Team
Hideaway activities and equipment
Cleaning costs
Repairs and maintenance
Small equipment
Insurance
Depreciation
Restricted expenditure
Unrestricted expenditure
Support costs (see note 9)
Governance costs (see note 9)
Hope Centre purchases and
community costs		 Hideaway
£
317,686
12,655
82,942
70,428
624
7,466
-
8,372
24,537
1,128
4,835
12,609
16,066
59,616
618,964
24,601
610,735
635,336		 Hope Centre
Family & Health
£
£
92,387
23,655
2,813
932
10,774
-
-
-
-
2,363
-
802
51,537
1,364
891
-
3,992
-
312
1,516
1,059
-
3,964
-
3,779
968
14,023
3,590
185,531
35,190
135,957
40,593
49,574
-
185,531
40,593		 Total 2024
£
433,728
16,400
93,716
70,428
2,987
8,268
52,901
9,263
28,529
2,956
5,894
16,573
20,813
77,229
839,685
201,151
660,309
861,460		 Total 2023
£
207,290
7,773
7,992
30,264
-
3,571
23,003
4,517
13,042
1,420
2,574
8,523
10,234
19,676
339,879
69,129
284,878
354,007

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

9 Analysis of governance and support costs

Basis of
Support
apportionment
£
Staff costs
Staff costs
56,015
Accountancy
Staff costs
-
Legal & Professional Services
Staff costs
-
Administration
Staff costs
6,179
IT software and consumables
Staff costs
4,632
Third party processing fees
Staff costs
11,270
Interest payable
Staff costs
1,133
79,229
Allocation of admin costs in proportion to charitable activities
Support
apportionment
£
Raising funds
Staff costs
2,000
Charitable activities
Hideaway
Staff costs
59,616
Hope Centre
Staff costs
14,023
Family & Health
Staff costs
3,590
79,229		 Governance
£
19,066
2,252
34
-
-
-
-
21,352
Governance
£
539
16,066
3,779
968
21,352		 Total 2024
£
75,081
2,252
34
6,179
4,632
11,270
1,133
100,581
Total 2024
£
2,539
75,682
17,802
4,558
100,581		 Support
£
10,184
-
-
2,996
1,939
4,850
594
20,563
Support
£
887
19,676
20,563		 Governance
£
8,483
2,212
-
-
-
-
10,695
Governance
£
461
10,234
10,695		 Total 2023
£
18,667
2,212
-
2,996
1,939
4,850
594
31,258
Total 2023
£
1,348
29,910
31,258

30

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

10 Net income/(expenditure) for the year

This is stated after charging/(crediting):

This is stated after charging/(crediting): 2024 2023
£ £
Depreciation 16,506 8,523
Interest payable 1,133 594
Independent examiner's fee 2,252 2,212

11 Staff costs

Staff costs during the year were as follows:

ff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs
Allocated as follows:
Cost of raising funds
Charitable activities
Support costs
Governance costs		 2024
£
496,311
18,710
6,966
521,987
13,178
433,728
56,015
19,066
521,987		 2023
£
231,642
1,381
3,117
236,140
10,183
207,290
10,184
8,483
236,140

No employees has employee benefits in excess of £60,000 (2023: Nil).

The average number of staff employed during the period was 49 (2023: 43). The average full time equivalent number of staff employed during the period was 21 (2023: 19).

The key management personnel of the charity comprise the trustees and the Chief Executive Officer. The total employee benefits of the key management personnel of the charity were £28,731 (2023: £14,774).

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

12 Trustee remuneration and expenses, and related party transactions

Karen Greenhalgh, a Trustee of the charity and Director of Hidden Treasure Discovery Centre CIC, was paid £4,909.92 by a third party to do youth work for Hidden Treasure Discovery Centre CIC. The third party was recompensed for the cost by the CIC. Neither the trustees nor any persons connected with them received any other remuneration or reimbursed expenses during the year.

Aggregate donations from related parties were £870 of which £510 were restricted for use in the Hope Centre.

There are no donations from related parties which are outside the normal course of business.

Karen Greenhalgh has given an unsecured concessionary loan of £20,000 to the charity in 2023. The terms and details of the loan are disclosed in notes 18 and 20. Karen has also given an unsecured concessionary loan of £20,000 to Hidden Treasure Discovery Centre CIC.

13 Government grants

The government grants recognised in the accounts were as follows:

Trafford Council 2024
£
73,631
73,631		 2023
£
51,411
51,411

There are no unfulfilled conditions and contingencies attaching to the grants.

14 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

15 Fixed assets: tangible assets

15
Fixed assets: tangible assets
Cost
Additions
Disposals
Depreciation
Charge for the year
Disposals
Net book value
16
Debtors
Grants receivable
Trade debtors
Other debtors
Prepayments and accrued income
Intercompany debtors
17
Cash at bank and in hand
Cash at bank and on hand
At 30 June 2023
At 30 June 2024
At 1 July 2023
At 30 June 2024
At 30 June 2024
At 1 July 2023		 Leasehold
improvements
£
113,966
-
-
113,966
5,501
11,013
-
16,514
97,452
108,465		 Equipment
£
18,731
1,008
(547)
19,192
3,022
5,493
(80)
8,435
10,757
15,709
2024
£
57,183
10,419
160
2,968
-
70,730
2024
£
67,589
67,589		 £
132,697
1,008
(547)
Total
133,158
8,523
16,506
(80)
24,949
108,209
124,174
2023
£
19,426
180
60
25,823
1,401
46,890
2023
£
62,708
62,708

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

18 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade creditors
Short term compensated absences (holiday pay)
Other creditors and accruals
Intercompany - Hidden Treasure CIC
Deferred income
Taxation and social security costs
Concessionary loan		 2024
£
105,907
9,284
52,335
10,000
3,503
7,399
3,000
191,428		 2023
£
38,521
7,501
10,974
-
20,479
11,672
11,750
100,897

The details of the concessionary loan are set out in note 20.

19 Deferred income

Deferred income
Deferred grant brought forward
Grant received
Released to income from charitable activities
Deferred grant carried forward		 2024
£
28,763
-
(28,763)
-		 2023
£
-
28,763
-
28,763

20 Creditors: amounts falling after more than one year

Concessionary loans 2024
£
19,500
19,500		 2023
£
4,500
4,500

A trustee has loaned the charity £20,000 in 2023. £3,000 is repayable in less than a year and £9,500 in more than one year. A third party has loaned the charity £10,000 repayable in more than one year. Both loans are unsecured and no interest is charged.

34

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

21 Analysis of movements in restricted funds

Balance at 1
July 2023
£
Community Partington
-
-
-
21,402
-
-
-
Hope Centre
49,961
-
-
-
-
-
-
71,363
Hope Centre - Energy
NHS GMICB
Trafford Council - HAF
Digital Hub
From Hidden Treasure
CIC
Trafford Council -
Volunteer Co-
ordinator
National Lottery
Community Fund
Community
Organisations Cost of
Living Fund
From CIC & various
donations & grants
Trafford Council -
allotment
Family support work
Trafford Council - HAF
Trafford Council -
community
Community
Organisations Cost of
Living Fund
Trafford - Household
support fund (HSF)
Irwell Valley Homes -
Hub Funding -
Household support		 Income
£
58,450
4,230
2,988
-
12,499
15,000
6,692
-
9,646
18,437
17,575
20,000
500
20,000
18,783
204,800		 Expenditure
£
(17,383)
(4,230)
(2,988)
(21,402)
(12,499)
-
(6,692)
(49,961)
(5,198)
(18,437)
(17,575)
(5,503)
(500)
(20,000)
(18,783)
(201,151)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at 30
June 2024
£
41,067
-
-
-
-
15,000
-
-
4,448
-
-
14,497
-
-
-
75,012

35

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Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

Note 21 continued

Comparative period

Comparative period
Hope Centre
Hope Centre - Energy
Total
Family support work
Family support - Dad's
group
Family support -
Volunteer co-
ordinator		 Balance at 2
September
2022
£
-
-
-
-
-
-		 Income
£
33,630
3,168
9,551
93,573
570
140,492		 Expenditure
£
(12,228)
(3,168)
(9,551)
(43,612)
(570)
(69,129)		 Transfers
£
-
-
-
-
-
-		 Balance at
30 June 2023
£
21,402
-
-
49,961
-
71,363

Name of restricted fund Description, nature and purposes of the fund

Community Partington Funding to run community projects and groups.

NHS Greater This is a project working with people in the community with long term health Manchester ICB conditions.

Digital Hub This was to run Digital projects with people in the community.

Trafford Council - HAF This was to run specific summer activities.

Family support work Grants funding the family team salaries and Special Education Needs (SEN) support including additional holiday clubs and new parenting courses. Family support - Dad's group[Grant to cover salary costs for a Dad's support worker.] Family support - Volunteer coGrant to cover volunteer co-ordinator salary and associated costs. ordinator Community Organisations Cost of This was for specific Youth Worker project working with the local school. Living Fund

36

Doc ID: e0e4caeca8a3e53ef5f1d240e26ebdd6cb1fa877

Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

Note 21 continued

Name of Description, nature and purposes of the fund

Grants and donations specific to the Hope Centre to support local residents Hope Centre through the provision of low cost food, assistance with energy costs and other items of need.

Trafford Council - This is to run a community allotment for 1 year, working with people who have allotment mental or other conditions.

Trafford Council - To operate this community grocery and support for people. community Community Organisations Cost of To operate this community grocery and support for people. Living Fund

Trafford - Household Household support fund (HSF) is to be specifically to be used for buying food to support fund (HSF) give away to people and gas/elec support.

Irwell Valley Homes -

Hub Funding - To operate this community grocery and support for people. Household support

Trafford Council - HAF This was to run specific summer activities.

Individual donations specific to the Hope centre customers for energy support.

Hope Centre - Energy

37

Doc ID: e0e4caeca8a3e53ef5f1d240e26ebdd6cb1fa877

Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

22 Analysis of movement in unrestricted funds

Comparative period
General fund
General fund		 Balance at 1
July 2023
£
58,647
58,647
Balance at
2 September
2022
£
-
-		 Income
£
563,173
563,173
Income
£
343,525
343,525		 Expenditure
£
(660,309)
(660,309)
Expenditure
£
(284,878)
(284,878)		 Transfers
£
-
Transfers
£
-
-		 As at 30 June
2024
£
(38,489)
(38,489)
As at 30 June
2023
£
58,647
58,647

Name of Description, nature and purposes of the fund unrestricted fund General fund The free reserves after allowing for all designated funds

23 Analysis of net assets between funds

Tangible fixed assets
Net current assets/(liabilities)
Creditors of more than one year
Total
Comparative period
Tangible fixed assets
Net current assets/(liabilities)
Creditors of more than one year
Total		 General
fund
£
108,209
(127,198)
(19,500)
(38,489)
General
fund
£
124,174
75,012
4,500
203,686		 Designated
funds
£
-
-
-
-
Designated
funds
£
-
-
-
-		 Restricted
funds
£
-
75,012
-
75,012
Restricted
funds
£
-
-
-
-		 Total 2024
£
108,209
(52,186)
(19,500)
36,523
Total 2023
£
124,174
75,012
-
199,186

38

Doc ID: e0e4caeca8a3e53ef5f1d240e26ebdd6cb1fa877

Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

Net income/(expenditure) for the year
Adjustments for:
Depreciation charge
Loss/(profit) on sale of fixed assets
Dividends, interest and rents from investments
Decrease/(increase) in stock
Decrease/(increase) in debtors
Increase/(decrease) in creditors
25
Net debt statement
£
Cash at bank and in hand
62,708
Loan falling due in one year
11,750
Loan falling due in less than 5 years
4,500
78,958
At 1 July
2023
Net cash provided by/(used in) operating activities		 2024
£
(93,487)
16,506
467
(664)
712
(23,840)
99,281
(1,025)
Cash flows
£
4,881
(8,750)
15,000
11,131		 2023
£
130,010
8,523
-
(72)
(1,635)
(46,890)
105,397
195,333
£
-
-
-
-
Other non-
cash changes		 £
67,589
3,000
19,500
At 30 June
2024
90,089

39

Doc ID: e0e4caeca8a3e53ef5f1d240e26ebdd6cb1fa877

Hidden Treasure Trust CIO

Notes to the accounts for the year ended 30 June 2024 (continued)

26 Subsidiary - Hidden Treasure Discovery Centre CIC

The charity aquired the subsidiary Hidden Treasure Discovery Centre CIC on 1 January 2023 becoming the sole member and person of significant control. The CIC has the company number 10778009, was incorporated on 18 May 2017 and is limited by guarantee.

The charity is exempt from preparing group consolidated accounts for the period ended June 2024 as the parent and group below is qualify as small under FRS 102. The income and expenditure of the CIC for the year is as follows:

Turnover and other operating income
Expenditure
Surplus for the period
Members Funds / Net assets
The totals owing by the subsidiary to the charity are:
The totals owing by the charity to the subsidiary are:		 2024
£
62,954
(58,783)
4,171
(23,354)
2024
£
-
10,000		 2023
£
521,082
(517,512)
3,570
(27,525)
2023
£
1,401
-

40

Doc ID: e0e4caeca8a3e53ef5f1d240e26ebdd6cb1fa877