## ## ## |Contents||||Page| |---|---|---|---|---| |Reference and administrative||information||| |Trustees'
Annual
Report||||2-5| |Independent
Auditor's|Report|||6-9| |Statement ofFinancial|Activities|||10| |Balance Sheet||||| |Notes to the financial
statements||||12-18| |The following
does not|form|part ofthe statutory|accounts|| |Schedule ofinvestments||||19-21| ## ## ## ## |Trustees||JA Thorpe (Chairman)|JA Thorpe (Chairman)|JA Thorpe (Chairman)||| |---|---|---|---|---|---|---| |||G DTCliffe||||| |||RTDugdale||||| |||A SWagstaff||||| |||D J McAllister||||| |||H M Hollingsworth||||| |Charity Administrator||TBalderson
PO Box 1577||||| |||Huddersfield||||| |||HD I 9NL||||| |Principal|Office|Bank Chambers||||| |||Market Street||||| |||Huddersfield||||| |||HD I 2EW||||| |Charity Number||200538||||| |Auditors||Wheawill &Sudworth|||Limited|| |||35Westgate||||| |||Huddersfield||||| |||HDI IPA||||| |Bankers||HSBCpic||||| |||2 Cloth Hall Street||||| |||Huddersfield||||| |||HDI 2ES||||| |Investment|Manager|lnvestec Wealth||dc Investment||Limited| |||3 Wellington|Place|||| |||Leeds||||| |||LSI 4AP||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## IIWEPENDENT AUDITOR'S REPORT TO THE TRu￿E￿$ OF THE H.P. DUGDALE FOUNDATION (￿￿tillued) Audi¢or's respotisibil1l￿ for lh¢ audEt of the fjAaDcial stA¢eme•ts W¢ have been aptKJinted as auditor under Serfion 145 of the Clwities Act 2011 aDd rel￿ in accordance with regulatio￿ mad¢ under section 154 of that ACL Our obj¢ctives are to obtain reasonable assutwKe aix)ut whether the fjnancial slatements &% a whole are free frottL material misstatement, whether due to ftaud or ¢m)r. alld to issue an auditor's report that includes our opinion. Re&sonable assurance is a high level of a&8urance, but is not a guarantee that an audit cotLducted in accordance with ISAS (UK) will always d¢t¢¢t a mat¢rial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. ind1vith￿1jy or in the awegate. they could reasonably be expected to infiuence the economic d¢cisi(x￿ of ￿eTS taken on the basis of these fmancial ststements. Extellt to whi¢b the audit was capabk of dete¢liDg irregularitie￿11¢1¥dlDg frxud Irregulariti￿. including frall￿ 8re ittthces of non-compliance with l#ws aDd regulatio￿8. We design procedures in line with our reSpo[￿1b11lltie4 outlined a￿Ve, to detect Mat￿la1 misstatements in respect of I￿¢gularItieS ]￿Ill￿g frau(L We focused on laws and regulation8 that could give rise to a rnateri￿ misstst¢ment in the financial statements. Our tests i￿lude(L but wu¢ not limited to: agreement of the f￿￿ncIal statement discl(wtes to un(krlyin8 $I¥￿tIftg documenlati enquiries of ttustees regarding known or g1sp￿d lllstan￿ of nonwliance with laws and regulations: review of minutes of Trustee meetings thr(wgknt the ycar. and obtaining understaThling of the control envÉronmeD¢ io place to prcvcnt and det￿t irregularities. Our audit procedures were desigtted fo respond to risks of material misstatement in the financial statements, O￿lSIng that the risk of not detecting a ma¢eria] misstatement due to frdud is higher than the risk of not delecting onc resulting from ernjr. as fra￿ ttlay involve deliberate concealtll￿t by. for example, forgery, misr¢pres¢ntations or through Coll￿10￿ There are Anhereat limitatiolls in the audit procedures perforn)ed and the further removed ni)n-¢ompliance with laws and re￿allonS is from the ev¢nts and trnnsactions reflected in the financial slatements, the less likely we art to beclmne aware of IL A further description of our resEM)nsIbiliti￿ for the a￿lIt of the financial ststements is located on the Fitwi¢ial Reporting Council's website at.. httys:Ilwww.frc.or&uklOur-Work/Audit/Audit-and-assurancelStandards-and- guidancelstandards-and-guidance-for.auditorsjAuditors-r¢sponsibi]ities-for-auditlDescription-of-auditors- responsibilities-for-audit.aspx. This description fonns part of our auditor's re￿rL ## ## ## ## ## ## |||||||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||fund|fund|2021|fund|fund|2020| |Notes||||||f|||f.|f|| ||Income and endowments||||from:||||||| |2|Investments|||||63,756||63,756|70,745||70,745| |3|Other income|||||5,321||5,321|||| ||Total income|||||69,077||69,077|70,745||70,745| ||Expenditure
on:||||||||||| ||Charitable
activities|||||(54,033)||(54,033)|(68,083)||(68,083)| ||Raising funds||||||(9,381)|(9,381)|-|(9,748)|(9,748)| |4|Total expenditure|||||(54,033)|(9,381)|(63,414)|(68,083)|(9,748)|(77,831)| ||Net gains/(losses)|on||investments|||174,707|174,707|-|(206,663)|(206,663)| ||Net income/(expenditure)|||||15,044|165,326|180,370|2,662|(216,411)|(213,749)| ||Reconciliation
of|funds:|||||||||| ||Total funds brought||forward|||119,956|1,428,769|1,548,725|117,294|1,645,180|1,762,474| |9|Total funds carried|||forward||135,000|1,594,095|1,729,095|119,956|1,428,769|1,548,725| ## ## |||||||2021|2020| |---|---|---|---|---|---|---|---| |Notes||||||f.|f.| ||Fixed assets||||||| |6|Tangible assets|||||5|41| |7|Investments|||||1,675,765|1,509,787| |||||||1,675,770|1,509,828| ||Current
assets||||||| ||Prepayments||and accrued income|||1,183|1,566| ||Cash at bank|||||12,142|10,025| ||Cash at Investec Wealth &Investment||||Limited|44,849|32,193| |||||||58,174|43,784| |8|Creditors:|amounts||falling due|||| ||within one||year|||(4,849)|(4,887)| ||Net current||assets|||53,325|38,897| ||Net assets|||||1,729,095|1,548,725| ||Represented||by:||||| |9|Endowment||fund|||1,594,095|1,428,769| |9|Unrestricted||funds|||135,000|119,956| ||Total funds|||||1,729,095|1,548,725| ## ## ## ## ## ## ## ## ## ## ## ## |Income from investments|2021|2020| |---|---|---| |Investment
income|59,960|70,744| |Interest receivable|3,796|1| ||63,756|70,745| ## ## |3|Other|income||2021|2020| |---|---|---|---|---|---| ||Bank|charges|refunded|5,321|| |4|Total expenditure|Unrestricted|||| |---|---|---|---|---|---| |||charitable|Raising|Governance|2021| |||activities|funds|costs|Total| ||2021:||||| ||Costs directly allocated to activities||||| ||Grants payable to individuals|38,919|||38,919| ||Support costs allocated to activities||||| ||Clerk's salary and expenses|10,811|||10,811| ||Postage, printing
and stationery|586|||586| ||Audit and accountancy|||3,700|3,700| ||Stockbroker fees||9,381||9,381| ||Bank charges|(19)|||(19)| ||Depreciation offixed assets|36|||36| |||11,414|9,381|3,700|24,495| ||Total expenditure|50,333|9,381|3,700|63,414| |||Unrestricted|||| |||charitable|Raising|Governance|2020| |||activities|funds|costs|Total| ||2020:||||f.| ||Costs directly allocated to activities||||| ||Grants payable to individuals|53,024|||53,024| ||Support costs allocated to activities||||| ||Clerk's salary and expenses|10,454|||10,454| ||Postage, printing
and stationery|558|||558| ||Audit and accountancy|||3,700|3,700| ||Stockbroker fees||9,748||9,748| ||Bank charges|225|||225| ||Depreciation offixed assets|122|||122| |||11,359|9,748|3,700|24,807| ||Total expenditure|64,383|9,748|3,700|77,831| ## ## ## ||||2021|2020| |---|---|---|---|---| |5|Staff costs and employee|benefits|Total
f|Total| ||Wages and salaries||10,496|10,150| ||Pensions costs||315|304| ||||10,811|10,454| ||The average number ofemployees
(including
trustees) wa|s 8(2020:8).| |---|---|---| |||Office and| |||computer| |6|Tangible fixed assets|equipment| ||Cost:|| ||At 6July 2020|366| ||Additions|| ||At 5 July 2021|366| ||Depreciation:|| ||At 6July 2020|325| ||Charge for the year|36| ||At 5 July 2021|361| ||Net book value:|| ||At 5July 2021|| ||At 5 July 2020|41| ## ## ## |7|Fixed asset investments|2021f|2020f| |---|---|---|---| ||Movement
in fixed asset investments||| ||Listed investments:||| ||Market value at 6July 2020|1,509,787|1,731,263| ||Additions
to investments
at cost|307,335|136,590| ||Disposals at carrying
value|(327,247)|(160,478)| ||Unrealised
gains/(losses)
on investments|185,890|(197,588)| ||Market value at 5 July 2021|1,675,765|1,509,787| ||||| |---|---|---|---| |Creditors: amounts|falling due within one year||| |Other taxation and|social security|175|162| |Accruals||4,603|4,657| |Other creditors||71|68| |||4,849|4,887| ## |||Balance at|Incoming|Resources|Gains on|Balance at| |---|---|---|---|---|---|---| |2021:||6July 2020
f|resources
f|expended|investments
f|5 July 2021| |Endowment|fund|1,428,769||(9,381)|174,707|1,594,095| |Unrestricted|fund|119,956|69,077|(54,033)||135,000| |||1,548,725|69,077|(63,414)|174,707|1,729,095| ## ## ## ## |Analysis of|charitable
fu|nds (continued)||||| |---|---|---|---|---|---|---| |||Balance at|Incoming|Resources|Gains on|Balance at| |2020:||6July 2019|resowces
f|expended
f|investments
f|5 July 2020
f| |Endowment|fund|1,645,180||(9,748)|(206,663)|1,428,769| |Unrestricted|fund|117,294|70,745|(68,083)||119,956| |||1,762,474|70,745|(77,831)|(206,663)|1,548,725| |10|Analysis ofnet assets between funds||Unrestricted|Endowment|Total| |---|---|---|---|---|---| ||2021:||fund|fund|fundsf| ||Fund balances at 5 July 2021 are represented|by:|||| ||Tangible fixed assets||5||5| ||Fixed asset investments||81,670|1,594,095|1,675,765| ||Current
assets||58,174||58,174| ||Current
liabilities||(4,849)||(4,849)| ||Net assets at 5 July 2021||135,000|1,594,095|1,729,095| ||||Unrestricted|Endowment|Total| |---|---|---|---|---|---| ||||fund|fund|funds| |2020:||||f,|| |Fund balances at 5 July 2020 are represented||by:|||| |Tangible|fixed assets||41||41| |Fixed asset investments|||81,018|1,428,769|1,509,787| |Current|assets||43,784||43,784| |Current|liabilities||(4,887)||(4,887)| |Net assets at 5 July 2020|||119,956|1,428,769|1,548,725| ## ## ## ## ## ## ##