THE H.P. DUGDAI.F. FOUNDATIOIY REPORT AND FINA'cIAL sfATEMENrs 5JULY 202S Contents I'fige Referencc and adininisirniive infomution Trustees, Annual Report Independen¢ Auditor's Repon 6-9 Siaiement of Finan¢ial Activities 10 Balanc¢ Sheei Noies io the financial slalemenls 12-18 77iefolJos1'i*g dcles ntsiforniparl ofilie.FlululorJ' accoiinls Schedule of invesimenES 19.21 Charity Number 20Q538
THF. H.1) DUC.DALE bOUliDATII)li lilh'ANI C'IAL S'I'ATEMEli'rs Refcrcnec #nd admlni5tr4tive iThform*lio 1'ru$tees G D T Cliffe (Chairman) R I. Dugdale A S Wagstaff D J McAllister H M Hollingswonh 11 Straw G Sharp Chxrlty AdminislrAtor T Balderson PO Box 1577 Hudd¢Tsfield HDI 9NL PrincipAI orfi¢e Bank Chambtrs Matkei Siieci Huiklcr5field HDI 2EW Charlty Numbcr 2(M)538 Auditors Whcawill & Sud¥¥orth Limiied 35 Westgale Hudd¢isfLeld HDI IPA B#b)kcrs HSBC pl¢ Unli 11-12 Kingsgate Shopping Cenire King Street Huddersfield IIDI 2QB Invesln?ent Managers Rathbors InVeent Management IOrpOralIn8 InvesteL Wealth & Invcstment Limited -1 Wellington Place Leeds isl 4AP
THE H.P. DUGDAI.E fouliL)ATJON TRUSI'F.ES' ANVAl. REPORT for the year cnded S JUI.Y 2025 I'he'l"nJsttts preseni ih¢ir ¥nniial rert and financial stsiements for Ihe year ended 5 July 2025. The financial staiemci)ts have be¢"N prepared in accordance ivith Ihe ¥ccounling policies sei oui ITh notc I lo thc finxn¢iAI sliiiemenls and comply with the Charily's governing documeni, Ihe Charities Acl 2011. I.-RS 102 Ihe financial Reporting Si&ndard applicable in the UK and Republic of Ireland" and ihc Charilies .SORP "Accounling and Reporting by Charities: Statemcnt of Recommended Prdclice applicable io charities preparin&p their acLounts in accordan¢e with the Finaneial Reporting Standard apiilicable in ihc UK and Republic of Ireland (FRS 102)". Objeetive5 and acliyities The objccls of Ihe Trust, in furthcring its chariiable purposcs for ihe public IKncfil. ar¢ 10 apply ihe income. subject to Ihe cost of adminisiration expenses of the Charity, for ihe benefiL of pcrsons residing in the fornier Couniy Borough of Hliddersfield and Ihe fOrnr Urban Disiric15 of Colnc Valley. Holmfirth, Kirkburton and Meltham, who arc in indigenl or greatly reduced circumstance5, <)r who had been previously resident in ihe defined area for a rIOd uf ien consecutive years. Gr#ot5 -I'he Charily eirculates lis .1115 and applicarion fornis to various local bodies such as Social Svtvi¢es and Lhurch bodies. Applicalions are then submilled io the Charity Adminisirator by or on behalF of individuals. All applicalions are reviewed by the Tnjsiees. or on iheir half under delegatcd power5 given io thc Charity Adminislrator and Chairnian, before approval for paynienl is granted Atliicvements and performaet During ihe ycar ihe Lharity has becn able to continue lis SUPP)n io fftndividuals who have required assista and ivho fall wiihin thc criteria laid down by ihe Tmsi l)eed. Grants iotalling £61,613 have been paid during the ycar and include £51,534 regular grants, paid 10 21 benefici3rie5. Included ID the £51.534 re&>ular grants are Christmas 8ranis amounting to £8,463 in aggregaie. Funher Addilional off giants amounting lo £10.149 ¥Yer¢ made to 36 beneficiari¢s. The number of beneficiaries assist during Ihe year was an incr¢ase of 3, over the number assisted durinB the previous year. Investment policy 4nd performance The 'rntteS #Te governed by ihe Trustee Investment A¢1 and subjeci lo ihat have the power to invest money in share5, Stocks, filnds, securities. land and buildings and other invesiments or property. the current invesimenis are shuwn iii the financial staiement$. The .1 rusiecs have an ongoing Inv¢siment Policy with Raihbones Investmeni Manas¢menl incorporating InvesieL Wealtli & Invesimeni Limir¢d which is revicwed and agreed with the Trustees bInnuallY.
THE 11.P. DUGDALE frUUIS'D.4'1'10 'I'RUSTEES' ANLYUAL RF.PORI' (ronlinued) for the y¢ai' cndcd 5 JULY 2025 Inyeslment policv and perfonnan¢¢ {eontlnued) VaritTrus rangi¢s and iargets have bcen agreed wilh the Investment Manager H'ith certain resiri¢iions in order to void cxcessivc risk. and the perforniance is measiired again 4ppropriale indices. l argiels have been sei for ihe provision ora minimum annual Trncomc. T¢iial returii for Il)e year under revicw iv.ry$ plu5 7.RllJ/• {2024 plus l Tr.6) compared with plus 7.14Yo (2024 plus 14.090/0) shown by ihe portfolio's Spoke nChMark prcpared by rhc invesiment manager, for ihe same period, a Vc1riance which is aiiribuied io l.oundaiion's Tequircmen¢ to prodiice income and ihc resultanl bias tOlVATds income producing S[kS. Fin#ncial revlew 'lThe aiiaehcd financial statemenls show Ihe reIllS for the year wÈth nel iiicomc over expendiiure amounting l() L45.999 Loinparcd with nci income over expendiiure of £86.9(Kl in the previoLES y¢ar. This cxcess income has largely arisen from further incrcases in thc valu¢ of ihe Charity's investmenl wnlolio Ih1Ch KIV¢ risc to unrealised gaiiis of£50.5(X) in the year ended 5 July 2025 (2024.- unrealised gains ()f £96,573). 'fh¢s¢ in¢rcase5 have occurred a5 markei i)riccs have coniinued to make a slom, rccovery Irom the effects of ihe etonomic downturn 012023. The Charit) s inconie levels have fallen slighily in ihe J'ear due io much iincertainiy in the markeis which remain volatile. li is the poli¢y of the Charity lo maintain unTestricted funds, which 8re frcc reserves ot the Charily. ai a Icvel vhich iogether wilh income from ihc Endowment Fund provid¢ Sufficient fuiids lo cover management. administration aiid suppoN costs and io respond io applications for grdnls which arise from lime io time. Frec reserves £115 July 2025 amounted to £160.941 (2024.. £1611,612). Risk manAgement I'hc Triisie¢s have Lonsider¢d Ilie njOr risks lo which ihc Charily is exposcd and lia¥'¢ r¢viewed those risks and established sysl¢ms and prOc¢dur lo manage them. rians lor the future The Trustees report ihai iolal grants paid in the year ended 5 July 2025 have increased in value by £4.071 and Ihe number of bcnefieiaries hus incnysed by 3 when compared with pieviou$ year. Th¢ emphasis Ihroughoul thc year has coniinued 10 be placed on preserving ihe Charity's endowm¢ni Capi1, 5ervicin&i ihe Lxisiing monihly graii15, an(18iYarding onc-off grants on ihc limiled kkisis introduced in the preceding year. It is ei1visajed that operaiions ivill Loniinue on ihis basis forihe itllmcdiaie luiure. bui Iviih tl* overall inleiilioLI of identlfying appropriaie new cases for monthly and onc-off granis ivhile at ihe sam¢ time rnaximising the income of lh¢ Charity.
THE H.P. DUCD.4LE FOUliDATIO, TRUSI'fr.ES' IKII'NUAL RF.PORT (coniinued) tor the year ended 5 JULY 202$ t>trueturc> governAnce aDd managemtnt The Charily is Linincorporatcd Élnd ii'2s formed by ihe ivill of ihe laic Mr H l) Dtigdale Proved in Ihe Pi'incipal Probate RegIr). on 14 March 1940 and the SL'henie was approved by ilK Chariiy Cunimissiontrs for Lngland and Whles and ¢stablisl)ed as ihe Schemc for Ihe r¢&?ulation ofihL Charity on 5 July 1961. This was replaced by a revised sthcme established with ihe Chhrily Comn)issioners on the 24 August 2007. ,hICh amends ihe reoulations for the manaEemen( of the Schc¥nc of Ihe Chariiy. Ih¢1IUer l)eing fuiihcr amended by a Resolution dated 22 April 2009. With effccl from 31 March 2010. wilh the prior appmval of ihe Charily Commtssron. the name ofthe Charity was changed from The Henry Percy lSdat Ch8rily to The H.P. Dugdale koundation,. in all oiher respects the objects ofihc Charily remain unchanged. The Trnstces are appointed dnd removed by thc Board of -Irusiee$ ih¢ni5elves. A¢cordin&' lo rhe Charity Commission Schcme as amended, ihe board of TrUceS sliall consiM ora minimuni ofsix and InaximLini or l¢n compeieni persons who arr rcsident in the nrea of ihe forn]er County Borough of Fluddersfield and of the ronner Urban Districts ofcolne Valley, Holmfirth, Kirkburton and Mcliham. all a5 collsiituted on 31 March 1974, or have in the pasl, iyen resident or carricd on business in ihe said atE8 for a pcriod (Trf ten rtbnseciitive years. lThe names of the curreni Trnsiees are IRsted on page l. The Trusiees agree Ihc broad SirJtcgy and awas of aLlivity for thc Charity. irtclLiding consideration of gnnl making, invcstmeni r¢s¢iv¢5 and risk managemcnl policies and perfommncc. The day io day administration of giants is delcgaled to ihc Charity Administraior. Trustee& Tlie Trusie¢s who have served during the y¢ar and 5inLe ihe period end ivere as folloivs.. G D I. Cliffe R T Duodale A S Wagslaff D J MeAllister H M Hollingsworth H Straw G Sharp References and administrolive det4il$ Day io day iiianagemeni of the Chariiy 15 delegaied io ihe Charity Administrator, T Balderson. Oihcr deidils Irc &ncluded oll page l. Tru)l¢cs respoiisibililies in relation to ¢he financial statem¢ntS The l-n15tees arc responsible for preparing ihe TrUceS. Annu411 Repon and the finan¢i#l 5talemenis in accordance with appli¢ablc law and United Kingdom A¢¢ounling Standard5 (Uniied Kingdom Generally Aepted Accounting Practice)-
TFIE H.P. DUC.DIll.E FOU,NDATIO TRUS1'Tr.F.S' Ali.YUAL RF.PORT (C111n{1¢d) for the year ended -$ JUI,Y 202$ Truste¢s' responsibllities in r¢la¢ioD lo Ihc fjnancial statemen15 (eoniinued) The law applicablc to chariiics in Enoland and Wales requires ihe Trye¢S to prepare financsal slai¢ment5 for aLh fin¢incial year ivhich give a Iriie &lnd fair vieii, of thc stal¢ of affairs of Ihe Chiriiy and of the incoiniDLI resoiirces and appliulion ol. resourLes of the LhArily for ihai "ar. In preparin¢tr these finan¢ial staiemenis Ihc .1 rustees are required to". selcet suitable aeeounling policics and ihen apply ihcm consLSl¢nily; obscrve ihe meihods and principles in Ihe Charities SORP. Inake judgements and ¢Slimai¢s IhaE are msonable and pnldent: state wheiher applicable accouniing slandard5 have folloived, subjeci io any material deparlures disclosed and Lxplained in the finAt)eial statemenls; a1 pr¢pare ih¢ finan¢ial stiltements on ihe going concern basis unlcss li is inappropriale lo presum¢ that ihe Charity will continue in operalion. The Triislees are responsible for keepini¥ SLil¢eI accountin4 records that disclose with r¢ason4ble accuracy .1t any (imc the financial posiiion of Ihe Charity and enable Ihcm to ensure thai tlie financial stal¢menls comply viih the Charities Act 2011. the Charilies {Accouiils and Reports} Reuulaliuns 2008 and ihe provisions of the TrLlSI f)¢ed. 'I'h¢y ar¢ a150 responsible for safeguarding ihe asscts of ChRTily and hence for iaking redM)nable steps for the prevcntiun and deiection of fraud and her irr¢gulaTItiLs. L,ach of thc Truslces has eonfimied lh1 I Ihere is no infumiaiion vf ivhich thcy are aware whirh 15 r¢levic ni to Ihe <liidil, but of which the auditor 15 unaware. They have furthcr confinned ihat Ih¢y have iakcn appropriate steps 10 ideniily such rel¢vanl infornialion and to &%tablish thai the auditur is awar¢ of Such informatioi). A resnliiiion proposing thai Wheawill & Sudworth l.imiied be reapwjinied 85 auditors of the Charily ivill be pui to ihe Annual Gencral Meeting. F.xemption from disclo$ur¢s l-he charily htts iaken advantage of the excmpiions %viil)ii) Ihe SORP ielaiing lo smaller charities and lias nol prcpared a cash flow stalemenl. 'I'he irusiecs, reporl was approvcd by ihc t3oard of TTU51ees on 7 Noyember 2025. G D I-CI.IFFE -rrusiee
IINDEPTr.NDF.NT AUDITOR'S RI.:PORT I'o'fHE TRUS'I'LES O THI H.I'. DIICtDAI,Tr: FQUNDA'I"IO Opinion We liave aiidiled tlie finilllci£l1 Sld(en)ci)ts of The H.P. i)ugdale foundation for ihe year ended 5 July 2025, vhicli comprise ihc Sialemcnt of I.1rnCIaI Activities. the Balancc Sheet £1nd nvtes to thc financial siatemenis, includinL7 a summary of siEnificant accounling policies. I"hc financial reporting framcwork ihai has been applied iii thcir preparation 15 11 pplicable laiv and the United Kingdom A¢counting Siandards. incliidin¥ fRS 102 'Tlic binancial Reporting Siandard appli¢obl¢ in the IJK and licpublic of Ireland" (Uiiit¢d Kii)¥doin GenerAlly Accepted AccoLinting Praciice)- Iii our opinion Ihe financial Sial¢ments'. g?ive a true nd fair i'icM' of rhe 8i&ie of the chariiy's affairs ai 5 July 2025 llnd of its incoming rcsoiirces and applicatioi) of the resource5. including its income 8nd cxpendiluTe. for ihc year then ended. h<iYe b¢¢n properly prepad in accordaCe with Untled KiDgdoin Ge1rallY Accepled Accounting Practice. and have been prepared in ae¢ordance with ihe requiremcnis of the Charili<% Act 2011. Basis for oplnion We Condiicted oiir aiidii in accordanct ii'iih Inlernalioiial Stanthrds on Auditin£ (UK) (I.SAs {IJK)) and pplieRblc laiv. Our responsibilili¢s underthose siandards are furth¢r (ksL'ribed ii) th¢ Audilor's responsibTrlilies for the audit of the financial Slhtcn)ents seclion of rnir report. We are independent ol'ihe chariiy in accordance with tlie ethical requiiem¢nts that are Televani 10 our audil ofihe financial siatcmcnis in ihe UK, including the FRC'S EthiLal Standard, and we liave fiilfilled our h¢r cthical rtsponsibilities in accordAnce with these requircmenis. We bcliebe thai ihe audsi evidcnce we Ive obiained is sufficienl and appropriaie lo provide R basis for our opinion. Conclusioll5 relating to golng concer In aiidiiing lh¢ financial slatemenis. Ive have concluiled ihai the "I tU5tees' use ofthe goinLp ¢oncem basis ol acL()Liniin8 in lh¢ p1ratio1) of ihe financial alennts is appropriaie. Based on the work we Iiav¢ pcrfomied, we have not ideniificd any maieii21 uneertaintie5 relating lo even15 or eoiidiiions Ihat, individually or Lolleciively. Inay c85t significant doubt on the Charily's abilily lo continue as a Eoing ctsncern for a period of at leasi Iwelye months from when financial stal¢menls are autl)orised lor issuc. Our r¢sponsibilitie5 and Ihc testK)nsibilities oFihe Trustees with rcspcct to going concern are Ikscribcd in th¢ relcvant sections of this report.
INI)EPFN'DENI' AUDITOR'S RLPORT TO THE I'RUSTF.F.S OF
THL kl.P. DUGDALE FOUNDA'I'IOIN (cvniinu¢d)
Other informativn
Thc other Inforinttiioii comprisei the infonnaiion inLliided in ihL 'I-wslLYS' Éinnual reporl, oiher than tlie
rinanci¢11 siaiements aiid nur aLiditor's report thereon. The TtUsl¢ei are responsiblc for ihe oiher infomalion.
OLir opini()n ort Ihc financial statemcnt5 d(Jes nol cover ihe nthcr infomiaiion and u'e do noi exp. any form
ufassurance conclusion thereon.
Our responsibiliiy is io read the other infomiaiion and. in doing sv. ron5ider wheiher lh¢ othcr inforniaiioii is
malerially inconsistent ivith the finanLial siaicments or our knowledge obtained in the Lourse of ihe audit or
othenvise appears to be marerially mIsrtied. If wc ideniif), such material incon5iStencie.% or appareni material
miss121emenls, Ive are requir¥d to Ifetermine wheiher ihere is a milteri#l Ini5Statement in ilie financial
staiomcnts themselvcs. If, basc
INI l)F.PEliDF'hT AVDI'I'OR?.% RLPURI. TO TH&: TRUSTEF.S OF 'I'Hfr. 14.P. DUGI)AI.E FOUNI'DATION, (contind) Auditor'5 responsibilitie¥ for the audit of the finan¢l#l $t¢cments We heyc hccn appoinicd 85 audiior under Section 145 uf Ihc Chariliu ALI 2011 and rcport il) <lLC(?rdan¢e with rhe aLI and relcvanl regiilarions htt.1g effeLt Ihere under. Oiir objeclives arc lo obiain r¢3soiiable assurance aboui %vh¢rher the finaneiJl statcments as a m.holc ¥Lre frce from niiilerial missiatemenl, whether diie to fraud or error, and to issue an aiidiior's report Ihal iiicliidcs our opinion. Reasonable assurance is a high Icv¢l of assurance. bul is noi u guarantee that audit coi)dii¢tcd in .Iccordanee with ISA5 (UK) Kvill alivays delect a niaterial Inissiai¢ment when it exists. Misstaiemenis can arise riY)ni fniid oi" error <liid are consid¢r¢d wnalerial il, individually or in tlie a0 regaio, they could reasonably be ¢xperted lo influenLe ihe economic decisions ofuscis iaken on the basis ol-the5e financial .%iatemcnts. Irregvl.Irities. including fraud. are insiances of nort-compliance iviih laws dnd ie8ulations. We desigii procedures in line ii'ith our responsibilili£s, ouilined aboi'c. lo ddeLI material missiatenientts in respeLI or irregularities iT]cluding Iraud. -l-he exlenl lo which our proc¢dure% are capi¢ blc of detecting irre8iilarities including fraud is det2Ll¢d below" Wc fociised i)n la%vs and regulalions ihai could give risc to a mdlerial missialement in the linancial sthiefflents. Our tC5ts included, were not limited io: a7re¢m¢nt of the rI1nLA1 SLttIcTncnt disL105UYCS to underlyirtg 5llPPOrting duMentltiOn. cnqLiiri&% of tn15fees rcgardinD or suspc¢ted in51anLes of non-compli¢inLe iyitli laivs And rcgulations- review. of minules of Trusiee mL*iinLs ihroughout the year. and obiaining an understanding ofthe control ¢nvirotim¢ni in place io prevcnt and delect irregulariiies. Oiir audil proLedLires wer¢ desigiicd io respond ro rtsks of matcridl mi$51oiemcni in Ihe financial staiemeiils. rccognising cha( the risk of not deieelinkT a malerial Misstat1]e1]I due io fraud is higher than thc risk of not clclccling one rcsiiliing from error, Ls fraud may involve deliberale coi)cealment by. for example, forgery. misreprcseDtii1ions or through collusion. There are inhereni litnilations in the audii procedure5 peif(Trrnied and the furihcr rcmoved non-compliancc with laws and regulations is from Ehe events and trnnsaciions reflecied in Ihc financial sthtcments, Ihe less likely we a lo become aiyare of il. A further descripiion ofour responsibilities for ihe audal of lh¢ financial siatem¢nt5 is located on the l."iftancial Repckrring Council's websiie ai htl sJliYww.frc.or .uklOui-WorklAudiilAudil-and-<issurdn¢elStandards-and- IiidancelSiandards-and- idance.for-au itorslAuditors-res 'biliiies-for-audiilDescri tion-o -au res {sibilI11C$-rtsr-Jdll.as - This description forn]s part ofour nudiior's repotL
IliDEPENI DENll' AUDITOR'S Rli.PORI I'O J'IIETKUSt'F.FS ()F THL H.P. DUG'DAI.r. rouNI)ATIOli {LOlltinued) Use of our report -rhis report is mlc de solcl). 10 Ihe chilrit) s Trt1c5. as a by, In accordance iviili Ejart 4 of ihe charilS (Accoiinis and Ileports) Rcgulations 2008. Our dudii work has been undcrtaken so thai ¥ve miuht Stale l() th¢ charily's I'nLS1¢¢5 Ihose tterS we reqLiired io siaie to 1M in uuditor's report and for iio other purpose. To ili¢ fLillesl exleiil perniiiied by laiv. Ive do Dot #ccepl or assume responsibiltiy to anyone oiher Ihan ihe charity and the charity's TnisLees as a b)dy. for our aiidil i%ork. for this iepurt, or lor the opiiiions wc Iiavc lorined. il A S_kn IL L_knj Aman Hayer S¢nior Stalulory Aiidilor ror on bchalt nr Whcawill & Sudivorth Limiicd Statutory Audiior 15 Westgaie 14uddersficld Hf)I IPA 7 Nol'ember 2025 Wheaii'ill & SLidworth J.iiniied is eligible io acl as an audilor in ternis olsection 1212 of ihc CDmpanies Aci 200().
I'HF. H.P. I)UGDALTr. FI)U,4D.4TIO SI'ATEMf.NT Ub I,'IIN.4h'CIAI. ACI'AVITIES for thc year cnded S JUI.Y 202S Unrestricted P.ndoivmenl fund fiind -loti11 2025 ljnresiricied F.ndoivmeni fiind Total 2024 Inconie and endo%%'ment5 from: Invesfmenis Oiher income 72,031 72,031 77.527 77,527 .1 otal income 72.031 72.031 77.527 77,527 Expenditure on: Charitable £lCtl¥llies Ilaisii)g fund5 (79,702) (79,702) (75,161) {9.821) (75,1611 19,2511 (9.821) (9,251) Total cxpenditure (79.70?) (9,821) (89,523) (75,161) (9,251) (84,4121 Nei gaiiis on inyeslnicnls 6.1,491 63,491 9.1,7R5 93.785 'et (expendltureyinrumc (7,671) 45.999 2.-166 84,534 86,900 Rtcomeiliatioll of lund5: l 0(al funds brought forwaril 16X.612 1.526.312 1.694.924 166,246 1,441,778 1,608,024 Tolal (unds Carried fonvard 160.941 1,579.982 1,740.923 168,612 ,526,312 l.C?94,924 All incomc dnd expcndiiure derive Irom coniinuing RetivitlCS. The notcs on pages 12 to 18 form part of these finala7 biaiemenis.
'I'HE II.V. DUGDAI.E FOUI%D,ITIC)i B.4LtlN'CE SHLK'r SJVLY 2025 2n25 2024 Fixod assets Tangible assets InvLslmeiils 1,658,008 1.594.962 1,658.013 1.594,967 Curreiil assels Prepa)rynents and R¢¢ruc(l incon C'ash ai bank Lash al Inveslec Weiilth & Investmeni Limited 3.103 14.315 69.937 1,474 8,919 94,667 87.355 105,060 Creditors: amnunis falling due within one y&ir (4,445) (5.103) Iyet current ¥55els 82.910 99,957 et as.sets 1.740,921 1.694,924 Represented by: F:ndowmcnt fund Unr¢5triLled funds 1.579,9R2 160,941 1,526,3 12 168,612 -l ot41 funds .740,921 1,694,924 1.hese fin.Inci<l1 stlllemenls on pag¢s 10 10 18 iyere approved by ihe Trust on 7 November 2025 and were signed on their behaifby". s and auihorised for issue G D Tclitre Trustee D J McAllister Trusiee Charily Number.. 2005311 lthe notes on page5 12 to 18 fom) pall ofihese financial sialemenis.
TIIL H.I'. DUC.DALE &'OUP4DATIOY 'OI'F..8 TO THE TrIliAliCIAL SI"ATEMEh'TS 5 JULY 202S Accounting pi)licies The folloi¥'ing poli¢ies have been applied eonsislcntly in dealing ivith iiems ivliich are con.%idered material in relation to ihe financial 51atemenls. (tt) Cjtncral infomiaiion and b¥5is ofpreparaiion The14.P. Dugdale Foundaiion is an unincorporated ehjril). registcred in Engllind atKI Wales. The ¢onlilCI ,i<ldrL5 of the charity is shou'n on the r¢ference and adminisiraiion infomiaEion on Pcige l of Ilicse rindncial Slalrments. The naiure of t1 ch#rity'5 operalions and actii'iiies are set out on page 2. I'he financial stalcm¢Dis have been PTepared in accordance with thc Charity'5 governinL documLnl, Ihe Charities Aci 2011. FRS 102"Thc l-inancial Reporting Siandard applicdble in ihe UK and Republic of IT¢laiid" ¢lnd the Charili¢s SORP"Accoiinting and Reporting by Charities.. .Statemcni of Rccomniended Praclice applic&ble to charilies preparing rhcir accounts in accordai)ce with the F.inancial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102}-. 'l-he Charity is a Public Benefil Entity as defined by FRS 102. 'rhc Charity has iakeft advantage of the provisions in ihc SORP for charili&s not io prepare a stll tem¢nl rcash flows. I'hc financial stalemeois have departcd Fmm Ihe Chaiilic5 (ALcoiinis aftd Rerts) Regulatioiis 2008 only to rhe exlent requiTed to provide a INe and lair viciv. Thi5 departiire has involved folloiving Ih¢ stalennI of Recommendcd l)ractLce lor charili¢s applying FRS 102 raiher Ihan the version nf Ihe Stalenienl of R¢coiiimended Practice ivhieh is rcf¢Tred lo in the Regu1411ions bul Ivhich hiiS since been Ivithdrawn. The financial starement5 are prepmred on a going concern basis utKler ihe historical cost conveniioi). wilh thc exceplion thai invesimenls arc included ai fair value. The fin8nciic I siat¢m¢nis are prepiired in stcrling ivhich is th¢ fiinctional currency of the eharily. and rounded io the nearcsi £. (bl Fund a¢counting Unrestricted fvnds Eepreseni accuinulaled incomc fron) previous years which are availabl¢ for use at the diseretion of the Iwstr in furtherance of the gei)eral objectives of th¢ Cliarily and ivhich have nor been designated for other purposes. Endowment funds reprcscnt the permanent Irusi capital of thc Charity, the incomc of ivhich can bc applied for the C1[1[y.5 main objects and is therefo ineluded as unrestri¢ted income. (cl Income rttognition All incoming resources are recogniscd once ihe Charily has cnlitlemeni io the resourccs, it is probable Ihol ihc resources will be rffcived and th¢ monetary valuc of incoming rcsources can be measiired iviih 5ufficieni reliabilily. Inve5tmeni income receivable is rcc(Jgnis¢d using ihe elTective inierest method. (d) Resources expended All expenditure is a¢¢oiinted for on an ac¢[11$ basis inclusive ot VAT. which is noi re¢laimable, and has been classificd under kndirtLJS rhat aggrcgatc all costs taled lo ihc caleLYOry. Grants payable are paynients inade io ihird parties in the furtheraTKe of thc charilablc objecEives ofthe Trusl.
THF H.P. DIIC:DAL>. TrOUh'DATIO 1'0I'ES T() THE FILNAliCIAI. SI'A'f+"MEliTh Icooiinucdl S JiJI,Y 2025 Accounting policie5 (Continued) Cosls (Trfraising> lun(Is comprise ihc c051s of iiiveslinent Inaiiagemenl. Charit¢lble cxpendiiure comprises ihose ¢oys of eharilable aciivitics. including grc)nts mil dc, and an apportionmeni of overhead and support cosl5. Governance LO$ comprise all c0515 involving Ihe public accouniabilily of ihe Chariiy and lis compliance wilh reoulaiion Jnd good practice. These costs inLlude c0515 reldied to S¢JtLilor)' alidil and legal fee5. (el Tangible fixed as5Cts Tangible fixed asset5 are includcd al less accumulai¢d dcpreciaiion. D¢pr¢cialioi) is calcul.Iied so a5 to .lEe off the cosi of an asset io a nominal residual valiie o%'¢r Ihe useful economi¢ lif¢ of that asset as follows= Office #nd compuler equipmenl- 13.3YD Strdighi line (t) fixed asset invesLm¢nis Ini'estmcnts arc stared al fair i'alue, being markei wlvc. as Ill ihc Balance Slicci d.Ite. 'Il)c Staieincn¢ of Fin11 llcicll Acii¥'tlics inclu(le5 the iiei gains aiid losses arisinbr on rci'aluaiion and disposals ihrou81)oui the year. (g) Gains and l()sses All gtiiiis and losses are taken to the Siaiemcnt of financial Aciftvities ¢lS Ihry Ilrise. Rcalised Etiins and losses oli invcstmeilts calculated as ihe difFerence bciiiren sal¢s procecds and opcning Inarkei value (piirchase cosi if acquired during lh¢ year). Unrealised gains and losses are ¢alculaied a5 Ihe difference between rhe market value al the y¢ar end and opening markei value (or purchase cost if acquired during thc ycar)- (h) Going coiicern Ai the tim¢ of approving the financial siatemcn15. Ihe TnJ51ees have a reasonable expeciditon thal the chlr rily has adequ¢lte resources io ¢ontinuc in operational existence for the foreseeable fviure. Therefore Ihe I'rust¢es conlinuc to adopt ihe going concem basis of accc>uniing in preparing Ehc finaiicial staicments. (i) Financial instrumcnts Finiincial inslnimenis are classified and accouni¢d foT. according to the subs12nce of ihe contractual arrangcment, as ¢iiher financial assets. financial liabiliiies or equity inslrum¢nls. An equily instrumeni is any conlract Ihai evidenLe5 A restdual interest in th¢ assets ofthe con)pany after dedu¢ting all of its liabiliiies. Income from Inve5tmcntS 2025 2024 Inveslmenl income Interest receivablc 70.089 1.942 74,994 2,533 72,031 77,527 All of the income from ini'esimenis wa5 atlributable lo unresiiiclcd fund5 in boih periods.
"I'HL H.1& DUGD.4LF. FOUIJD.i"rio I%OI'ES'I'O 'I'HF. FIN'AN'CIAL s'filTF.ThIEi%TS Iconlinued) SJULY 2025 T(>¢#l e.¥p¢ndilure Unreslricied LhaTilable activities Raising. runds Govern¢ince cosis 2025 202_S: co.sts directl}. allocated to Mclii'ilie5 Grants payable lo individuals 61,6X3 61,68.3 Support costs allo¢iT led to actii'iiies Clerk's salary and expenses PostaTe. priniing and siaiioncry Aiidil clnd ac¢oiintancy Stockbroker fees Bank ¢har&ies 12.896 831 12,896 831 4.100 9.821 192 4,100 9.821 192 13,919 9,821 4,100 27,840 '[ o(al expendilvre 75.602 9.821 4,100 89.523 unreIlc(cd chantable ctivilies RAi5ing funds Govemance costs 2024 2024: C()Sts directly allocated tl) activities (yrants payable io individuals 57.612 57,612 Suppon costs allocaicd io activities Clerk'5 salary and expeiises Posiige. priiiting and stJlionery Audit and dC¢nUTilancy Stockbroker fcc5 Baiik charges Sundry expenses 12.549 712 12,549 712 4,0(10 9.251 186 102 26.800 4,0(Kl 9,251 186 102 9.251 Total expenditure 71.161 9.251 4,1XlO 84,412
Is THE H.P. DUGDAI,F. FOUNI DA'I'IU 'OTES TO THE FINAliCIAI. STATEIllENTS (coniinucd) 5 JUI.Y 2024 Tolal expeDdlture (Continued) £9.821 (2024.. L9.251) of ihe above cosis We aiiribLltabl¢ io Lndoivtncnt funds. £79,702 (2024: £75,161) of the above costs wrrL' aiiributable to unresiricied funds. During tlie yeai.llic charilylId grants to 57 bcneficiaries (2024= 54}. 411 grants ivere paid lo indi.]dUa]S. During Ihe y&1r the Chariry paid fees io ihe audiior lotallinbj E4.OIXI (2024.. LI,900). of which £.I,IK)o (2024.. £2,9> was for ilie staiulory audit. 2025 Toial 2024 Toial StatTeosts and cmployee bellcfjts Wages and salaries Pensions ¢osis 12,400 496 12,066 483 12,896 12,549 No eniployec receivrd iolal emplojee benefiis of more than £60.1)(N). I'hc avcraoe nLimber ofcmployecs (including iTusiees) was 8 (2024= 11). Otficc and compiiier equipment Tllngiblc fixod a$set$ Cosi.. Al 6 July 2024 Addilions 366 Ai 5 July 2025 DcpreciAtion- Al 6 Jiily 2024 Charge for Ihe year -161 Ai 5 July 2025 Nel book value.. Ar 5 July 2025 At 5 July 2024
16 THL H.P. I)UC.D.ILE FOUNDATIO ()I'ES 'I'C)'I'HTr; Tr INAliCIAL SI-A'l'b.MTr'N'I'S (conlinued) S JULY 2025 Fixed assct ini'eytment5 2025 2024 Moienient in fixed Ass¢t in%estment5 Lisied invesimeni.%.' Markei value ai 6 July 2024 AdditlODS lo inveslments at co Di5P05als ai ¢arryinuJ Yalu¢ unreali.sed gains on investmenis 1,594,962 1,521,873 216,088 371.463 {22.1,5421 (.394,9471 50,5(KI 96.573 Markel value ai 5 July 2025 1.658.008 1,594,962 Creditors: amount$ falling due wiihin onc year Oiher taxaiion and social security ALcruals Oihcr credirors 206 4.156 %3 206 4,814 4,445 5.103 Analysis of charitablc fund5 Balancc al 6 July 2024 Incoming sourccs ResourLe5 cxpended GaiN81(Iosses) Balan¢e al on invesimen15 5 Jiily 2025 2025: Fndoivmcnl fund Uiirestricted fiind 1.526.312 168,612 (9,821) (79,702) 63.491 1,579,982 160,94 72.031 1.694,924 72.(131 {%9,523) 63.491 .740,923 PurrM)ses of funds.. Endowineni fund This reprcsents ihe permaiieni irusi capiial of Ihe Chariiy. thc income of which can be applied for the Charity's main objects. Unre51ricied fund This wpresenis arlumulated income froii) previous ycars which is applied for the C.harily's main objects at the discretion of the Trustees.
THTr: H.P. DUCDALE TrOUNDATIO¥ O'ITr.S"I'O"I'IIE frli%.4h'CAAI..s-f*lTEMEliTS (contLn1d} S JULY 2025 Aiial)sis of th#ritble funds (continued) Balance at InLtrming 6 July 2023 resour¢es ResourLes expen(le Gainsl(losscs) Balaiie¢' at on investments 5 July 20?4 2024: Endoivmeni fund ljnrestricicd fiind .441.778 166,246 (9,251) 175.161> 93.785 1,526.312 168.612 77.527 .608.024 77.527 {114,412} 93.785 1,694.924 Purposes of funds. r..ndowmeni fiind This repren[S thc Pcmnellt t[U rapital of the Chariiy. Ihe inconie or vhich can be applied for ihe Chariiy's main obj1$. Unresirictcd ftind This preSen1$ aceumulaied income preYii)us years which is ipplied for the Charity's main objecis ai the dIretiOn tsfthe Trusiees. naly5js of net asscts bttween funds Unrestricted Fndowmeni fund nd Total funds 2025: rund balan¢L3 at 5 July 2025 are reprcsenied by: -l-angiblc fixed asseis Fixed assei investments Ciirrenl assels Current liabilities 78,02C) 87.355 (4,445) ,579,9112 1.658,OOR (4,445) Nei asws ai 5 July 2025 l (A),941 1,579,982 1,740,923 ljnreslricied Endowinent fuiid nd Tolkl Funds 2024: Fund balan¢es at 5 July 2024 are represenied by: Tangible fixcd as5Cts Fixed 2sset invcslmcnts Curreni asseis C.urreni liabililics 68.650 105.060 15.10.1) ,526.312 1,594,962 105,060 (5,103) Net assels di S July 2024 168.612 1,526.312 1,694.924
Ix I'HTr. H.p. rJiJc.D.4LE FOUND•l"rioh' "()'I'Tr's 'r() 'I'HE lIl'ANCIAI. &fATEIMENTS {coniimi¢d) 5 JULY 2025 10 Tr115tcts' and ke). man#ocnient pcrsonel remuner#tinn and expenst* The Trustee5 nciihcr reLeivd nor iyaived any r¢tnuncralion durinbv ihe year {2024.' £Nill. The Trustees did noi hair any expenses reimbursed dtiring the year (2024= £Nil). No.frUee or oiher person rclated to the Ch¥riiy had any personal inieresi in any contrnGt or Iransaeiioii enier¢d inio by the Chariiy during thc year or the prei'ious year. I'hetE are iherefore no related plrty Iransaction5 reqLiirinbi disclosure in either yeai. T Balderson. Ivho is involvcd in th¢ dlly 10 dJy managemenl ofihc Charity, rc¢cii'cd reiniinerdlion diiiing the year of £12,4W (2024= £12,066)- conlro115ng parl}, The Charily is ¢onlrollcd by the Board of Ttees. No Dne l Tustec has uliin147fe conirol.