## ## |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||||19-20| ## ## |Trustees|||J A Thorpe (Chairman)|J A Thorpe (Chairman)||| |---|---|---|---|---|---|---| ||||G DTCliffe|||| ||||RT Dugdale|||| ||||A SWagstaff|||| ||||D J McAllister|||| ||||H M Hollingsworth|||| ||||H Straw|||| |Charity|Administrator||T Balderson|||| ||||PO Box 1577|||| ||||Huddersfield|||| ||||HD 1 9NL|||| |Principal||Office|Bank Chambers|||| ||||Market Street|||| ||||Huddersfield|||| ||||HD1 2EW|||| |Charity|Number||200538|||| |Auditors|||Wheawill
&Sudworth||Limited|| ||||35 Westgate|||| ||||Huddersfield|||| ||||HD1 1PA|||| |Bankers|||HSBC pic|||| ||||2 Cloth Hall Street|||| ||||Huddersfield|||| ||||HD1 2ES|||| |Investment||Manager|lnvestec Wealth Sc Investment|||Limited| ||||3 Wellington|Place||| ||||Leeds|||| ||||Ls 1 4AP|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## INDEPENDEiYf AUDETOR'S REPORT TO THE TRUSTEES OF THL H.P. DUGDALE FOUNDATION (continued) Auditor's respDn5ibilitie5 for tbe audil of tbe fJRan¢ial $ta¢emenl$ We have been appointed as auditor under Sethion 145 ofthe Charities Aci 2011 and report in accordance with regulations made under section 154 of thal Act. Our objectives are to obtain reasonable assurnnc¢ about whthher the financial statements as a whole are free from material mi5Stal¢m¢nt. wheth¢r due lo fraud or error. and to issue an auditor's repori thal includes our opinion. Reasonable assuran¢e is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect 8 maEertal misstaiement when it exists. MIs￿alementS can arise from fraud or e￿or and are considered maierial if. individually or in ihe aggregate, Ihey could reasonably be expected to influence the economic decisions of users iaken on the basis of these firkancial skalemenls. Extent to whi¢b the audit was ¢apabk of detectlng irregularhtles, Intludlng Trnud Irregularities. including fraud. are insiances of non-compli8nce with laws and regulations. We design procedures in line with our reSp￿SibIlI11es, ouilined above. lo detect material misstatements in resp￿1 of irregulariiies including fraud. We focused on laws and regulations that could give rise io a material misstatement in the finan¢ial statements. Our lests included, but were nol limiied to: agreement of the financial statement disclosures io underlying supporting thum¢niaiion' enquiries of trustees regardin8 known or Susp￿1¢￿ instances of non-compliance wilh laws and regulations; review of minutes of Trustee meetings throughout the year. and obtaining an understanding ofthe control erftvironment in place to preveni and detect irregularities. Our audii procedures were designed to respond to risks of material missthiemeni in the financial statemenis, recognising that the risk of not detectin8 a material misstatemeni due io fraud is higher than ihe risk of not detecting one resulting from error, as fraud may involve deliberdte concealment by. for example, forgery, misrepresentaliorts or ihrough collusion. There are inherent limiiaiions in the audit procedure5 perfornied and the ￿rther removed non-compliance with laws and regulaiions is froTn the events and transactions reflected in the financial statements, the less likely we are io bccomc aware of it. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: htlps:Ilwww.frc.org.ukJOur-WorklAuditlAudil-and-assurancelSrandards-and- guidancelSiandards•and-guidance-for-auditorslAuditors-Tesponsibilili¢s-For-auditlDescriplion-of-audilors- re5ponsibililies-for-audit.aspx. This descriplion forms pan of our auditor's report. ## ## ## ## ## ## |||||||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||fund|fund|2022|fund|fund|2021| |Notes||||||f.||f|f||f| ||Income and endowments||||from:||||||| |2|Investments|||||73,619||73,619|63,756||63,756| |3|Other income||||||||5,321||5,321| ||Total income|||||73,619||73,619|69,077||69,077| ||Expenditure
on:||||||||||| ||Charitable
activities|||||(55,623)||(55,623)|(54,033)||(54,033)| ||Raising
funds||||||(10,076)|(10,076)|-|(9,381)|(9,381)| |4|Total expenditure|||||(55,623)|(10,076)|(65,699)|(54,033)|(9,381)|(63,414)| ||Net gains/(losses)|on||investments|||(71,818)|(71,818)|-|174,707|174,707| ||Net income/(expenditure)|||||17,996|(81,894)|(63,898)|15,044|165,326|180,370| ||Reconciliation
of|funds:|||||||||| ||Total funds brought||forward|||135,000|1,594,095|1,729,095|119,956|1,428,769|1,548,725| |9|Total funds carried|||forward||152,996|1,512,201|1,665,197|135,000|1,594,095|1,729,095| ## ## |||||||2022|2021| |---|---|---|---|---|---|---|---| |Notes|||||||| ||Fixed assets||||||| |6|Tangible assets|||||5|5| |7|Investments|||||1,582,943|1,675,765| |||||||1,582,948|1,675,770| ||Current
assets||||||| ||Prepayments||and accrued income|||1,370|1,183| ||Cash at bank|||||11,539|12,142| ||Cash at Investec Wealth & Investment||||Limited|74,267|44,849| |||||||87,176|58,174| |8|Creditors:|amounts||falling due|||| ||within
one||year|||(4,927)|(4,849)| ||Net current||assets|||82,249|53,325| ||Net assets|||||1,665,197|1,729,095| ||Represented||by:||||| |9|Endowment||fund|||1,512,201|1,594,095| |9|Unrestricted||funds|||152,996|135,000| ||Total funds|||||1,665,197|1,729,095| ## ## ## ## ## ## ## ## ## ## ## ## ## |5JU|LY 20|22|||| |---|---|---|---|---|---| |3|Other|income||2022|2021| ||Bank|charges|refunded||5,321| |4|Total expenditure||Unrestricted|||| |---|---|---|---|---|---|---| ||||charitable|Raising|Governance|2022| ||||activities|funds|costs|Total| ||2022:||||f|| ||Costs directly allocated to activities|||||| ||Grants payable
to|individuals|40,218|||40,218| ||Support costs allocated to activities|||||| ||Clerk's salary and|expenses|10,990|||10,990| ||Postage, printing|and stationery|596|||596| ||Audit and accountancy||||3,700|3,700| ||Stockbroker
fees|||10,076||10,076| ||Bank charges||119|||119| ||Depreciation offixed assets|||||| ||||11,705|10,076|3,700|25,481| ||Total expenditure||51,923|10,076|3,700|65,699| ||||Unrestncted|||| ||||charitable|Raising|Governance|2021| ||||activities|funds|costs|Total| ||2021:|||f||| ||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| ## ## ## ## ||||2022|2021| |---|---|---|---|---| |5|Staff costs and employee|benefits|Total|Total| ||Wages and salaries||10,670|10,496| ||Pensions costs||320|315| ||||10,990|10,811| |The average number ofemployees
(including
trustees) was|8(2021:8).| |---|---| ||Office and| ||computer| |Tangible fixed assets|equipment| |Cost:|| |At 6 July 2021|366| |Additions|| |At 5 July 2022|366| |Depreciation:|| |At 6 July 2021|361| |Charge for the year|| |At 5 July 2022|361| |Net book value:|| |At 5 July 2022|| |At 5 July 2021|| ## ## |7|Fixed asset investments||2022|2021| |---|---|---|---|---| ||||I:|f.| ||Movement
in fixed asset|investments||| ||Listed investments:|||| ||Market
value at 6 July 2021||1,675,765|1,509,787| ||Additions
to investments|at cost|219,097|307,335| ||Disposals at carrying
value||(223,311)|(327,247)| ||Unrealised
gains/(losses)|on investments|(88,608)|185,890| ||Market
value at 5 July 2022||1,582,943|1,675,765| |8|Creditors:
amounts
falling due within one year|||| ||Other taxation
and social|security|169|175| ||Accruals||4,687|4,603| ||Other creditors||71|71| ||||4,927|4,849| ## |||Balance at|Incoming|Resources|Gains/(losses)|Balance at| |---|---|---|---|---|---|---| |2022:||6July 2021
g|resources
g|expended|on investments
f|5 July 2022
f| |Endowment|fund|1,594,095||(10,076)|(71,818)|i,512,201| |Unrestricted|fund|135,000|73,619|(55,623)||152,996| |||1,729,095|73,619|(65,699)|(71,818)|1,665,197| ## ## ## ## |Analysis of|charitable
fu|nds (continued)||||| |---|---|---|---|---|---|---| |||Balance at|Incoming|Resources|Gains on|Balance at| |2021:||6 July 2020|resources
g|expended
f|investments|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| |Purposes offunds;|||||||||| |---|---|---|---|---|---|---|---|---|---| |Endowment
fund|This represents|the permanent|||trust|capital of the Charity,||the|income of| ||which can be applied|||for the Charity's||main objects.|||| |Unrestricted
fund|This represents|accumulated|||income|from previous
years which|||is applied| ||for the Charity's||main|objects|at the discretion ofthe Trustees.||||| |Analysis ofnet assets between
funds|||||Unrestricted||Endowment||Total| |||||||fund|fund||funds| |2022:||||||E|g||f.| |Fund balances at 5 July 2022 are represented|||by:||||||| |Tangible fixed assets||||||5|||5| |Fixed asset investments||||||70,742|1,512,201||i,582,943| |Current
assets||||||87,176|||87,176| |Current
liabilities||||||(4,927)|||(4,927)| |Net assets at 5 July 2022||||||152,996|1,512,201||1,665, 197| ||||||Unrestricted||Endowment||Total| |||||||fund|fund||funds| |2021i|||||||||| |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| ## ## ## ## ## ##