HF24 Trustee Annual Report 24/25
Charity Details
Charity Name: HF24 (Hilton Formula 24)
Charity Registration Number: 1205966
Registered Address:
16 Severn Drive, Hilton, Derby, DE65 5LE
Trustees during the reporting period
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Holly Davies (Chair)
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Sue Cornish
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Ruth de Mello
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Alister Poulter
Structure, Governance and Management
HF24 is a Charitable Incorporated Organisation (CIO) established to inspire and develop young people through practical engineering, motorsport and STEM education.
The charity is governed by a Board of Trustees who are responsible for the overall strategic direction, financial oversight, safeguarding and governance of the organisation. Trustees meet regularly throughout the year to review progress, monitor finances, manage risks and support the long-term sustainability of the charity.
The Chair oversees the day-to-day coordination of the charity with operational support from volunteers and specialist mentors. Delivery of activities is primarily undertaken by experienced volunteers with backgrounds in engineering, education, manufacturing and related industries.
Trustee Recruitment and Induction
New trustees are recruited when additional skills or experience are required by the Board. Recruitment is undertaken through local networks, professional contacts and recommendations from existing supporters.
Prospective trustees are invited to attend sessions, meet the existing Board and discuss the charity's objectives before appointment. New trustees receive an induction covering:
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the governing document
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Charity Commission guidance
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safeguarding responsibilities
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financial responsibilities
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health and safety procedures
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the strategic aims of HF24.
The Board seeks to maintain a diverse mix of skills including engineering, education, finance, governance and youth work.
Objectives and Activities
HF24 exists to inspire young people through hands-on engineering experiences that develop technical knowledge, confidence, teamwork and resilience.
The charity's objectives are to:
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provide accessible engineering opportunities for young people aged 9-25;
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remove barriers to participation, particularly for home educated, neurodivergent and disadvantaged young people;
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develop practical engineering, design and problem-solving skills;
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promote careers in engineering, manufacturing and technology;
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encourage teamwork, communication and leadership through collaborative projects.
During the year the charity delivered weekly engineering sessions centred around the Greenpower electric car programme. Young people participated in vehicle design, maintenance, electronics, mechanical engineering, CAD, race strategy and driver training.
Alongside race preparation, members were encouraged to take ownership of technical decisions, work collaboratively in specialist teams and develop practical workshop skills in a safe environment.
Achievements and Performance
The charity has continued to grow its reputation as an inclusive engineering project that provides meaningful opportunities for young people who may not thrive in traditional educational settings.
Key achievements during the year included:
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delivering regular engineering workshops throughout the year;
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supporting young people to design, build, maintain and race electric vehicles;
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increasing participation from home educated and neurodivergent young people;
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providing opportunities for older students to mentor younger members;
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developing participants' confidence, practical engineering skills and teamwork;
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strengthening relationships with local engineering businesses and volunteers;
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beginning research and planning for a future scratch-built Greenpower vehicle to enable progression for older participants.
Public Benefit
HF24 provides clear public benefit by advancing education through practical engineering experiences.
Participants gain knowledge and practical skills that complement formal education while developing transferable skills including communication, resilience, leadership and problemsolving.
The charity actively works to remove barriers to participation by maintaining affordable membership costs and creating a welcoming environment for young people from a wide range of backgrounds, including those with additional educational needs.
Many participants report increased confidence, improved social interaction and greater interest in engineering careers as a direct result of involvement with HF24.
Trustees have had due regard to the Charity Commission's guidance on public benefit when planning and delivering the charity's activities.
Financial Review
The charity's principal sources of income during the year were donations, sponsorship and fundraising activities.
These funds were used to support:
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race entry fees;
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vehicle maintenance and components;
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tools and engineering equipment;
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insurance;
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safeguarding and volunteer expenses;
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youth activities.
The trustees regularly review the charity's financial position to ensure that expenditure remains sustainable and aligned with the charity's objectives.
Reserves Policy
The trustees aim to maintain unrestricted reserves sufficient to cover approximately three to six months of normal operating expenditure where possible. This provides financial stability, allows for unforeseen costs and enables the charity to continue delivering activities should income fluctuate.
At the end of the reporting period the trustees considered the level of reserves to be appropriate in light of the charity's current activities and future plans.
Custodian Trustee Arrangements
The charity does not hold any assets as custodian trustee for another charity or organisation.
Plans for the Future
During the coming year HF24 intends to:
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expand participation while maintaining a high-quality mentoring experience;
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strengthen partnerships with local engineering employers and sponsors;
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secure additional grant funding to improve accessibility;
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develop leadership opportunities for older members;
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begin the design and development of a scratch-built Greenpower vehicle for the 16-25 age category;
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continue providing inclusive engineering opportunities that inspire the next generation of engineers.
The trustees remain committed to ensuring that every young person, regardless of background or learning style, has the opportunity to experience engineering in a practical, engaging and supportive environment.
HF24 accounts for the year ended 30 September 2025
| 2025 | 2025 | 2024 | 2024 | 2024 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Income | |||||
| Sponsorship | 16645.55 | 4871.30 | |||
| Contribution to race | days | 760.84 | 1130.00 | ||
| Easyfundraising | 430.80 | 0.00 | |||
| Donation | 200.00 | 0.00 | |||
| Interest received | 1.73 | 0.00 | |||
| 18038.92 | 6001.30 | ||||
| Expenditure | |||||
| Race events | 5892.30 | 3382.68 | |||
| Parts etc | 6271.25 | 2724.50 | |||
| Award trophies | 133.35 | 0.00 | |||
| Sundry expenses | 44.54 | 0.00 | |||
| Bank charges | 50.17 | 0.00 | |||
| Insurance | 42.33 | 0.00 | |||
| 12433.94 | 6107.18 | ||||
| Surplus for year | 5604.98 | -105.88 |