2025-03-31-accounts

REGISTERED CHARITY NO. 327501

THE HUGGARD CHARITABLE TRUST

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

THE HUGGARD CHARITABLE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

	Page
Report of the Trustees	1 to 3
Independent Examiners Report	4
Receipts and Payments Account	5
Statement of Assets and Liabilities	6

THE HUGGARD CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

The charity is constituted as a trust, and was established by a deed of trust on 27 March 1987. It is registered with the Charity Commission (number: 327501).

Objectives and activities

The charity was established for general charitable purposes including the advancement of religion, the relief of poverty, and the relief of persons incapacitated by old age or disability, with a particular (although not exclusive) focus in the area of South Wales.

The activities carried out by the charity in order to achieve these objectives comprise the making of grants to charitable organisations which are active in areas such as community support, helping those who are homeless and/or from disadvantaged backgrounds, and supporting people affected by old age, illness or disability. Most grants are of modest amounts, but larger grants are made in respect of a few projects with which this charity and its founders have had a close long-term involvement. Grants are not made to individuals.

In carrying out activities during the year, the charity trustees had regard to the guidance issued by the Charity Commission in relation to public benefit and are satisfied that significant public benefit has been achieved as a result of these activities.

Achievements and performance

During the year ended 31/03/2025 the charity continued to earn income through its investment funds managed by professional management companies. The trustees have continued to distribute the surplus income to a list of charities set up or supported by the charity’s founders, Robert and Ethel Huggard. These donations vary in size based upon a weighting formula which was historically established by the founders and has been continued by the current trustees.

There is a parcel of land situated at Bryncoch which is still held in trust by The Estate of the late E M Huggard. This land is subject to ongoing negotiations with a major property developer with a view to reaching an option agreement for them to promote the land through the Local Authority Planning Process in order to maximise the return upon sale of the land. If successful, the proceeds of such sale will then form part of The Huggard Charitable trust and will boost the value of investments held for charitable purposes.

Financial review

Because of the charity's structure and scale of activities, the trustees consider that a receipts and payments basis of preparing the accounts is appropriate. Consequently, the accounts for the year ended 31 March 2025 comprise a receipts and payments account (page 5) and a statement of assets and liabilities (page 6). The statement of assets and liabilities includes the charity's investment portfolios at valuation, taking the valuations at the nearest available dates.

The charity's funds (which were donated by the founders) are invested on a cautious basis in two diversified portfolios with separate investment managers. Income and gains on these investments are the charity's only current sources of funds, and the trustees are mindful of the need to preserve the funds so that the charity can continue to support the organisations and projects which benefit from its donations; many of these organisations and projects were supported by the charity's founders.

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THE HUGGARD CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Accordingly, it is the charity's policy to maintain reserves which will allow it to continue the level of support which it currently offers to a range of other charitable bodies, and to be able to respond to specific additional needs which might arise in respect of those projects with which the charity has had a close involvement over the years.

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THE HUGGARD CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

REFERENCE AND ADMINISTRATION DETAILS

CHARITY NUMBER	327501
PRINCIPAL OFFICE	25 Harvey Crescent
	Aberavon
	Port Talbot
	SA12 6DF
TRUSTEES	S J Thomas
	A E Helme BA
	A J Chiplen BSC MSC
INDEPENDENT	Bevan Buckland LLP
EXAMINER	Chartered Accountants
	Ground Floor
	Cardigan House
	Castle Court
	Swansea Enterprise Park
	Swansea
	SA7 9LA

Approved by order of the board of trustees on ................................ and signed on its behalf by:

S J Thomas - Trustee

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THE HUGGARD CHARITABLE TRUST

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Independent examiner’s report to the trustees of Huggard Charitable Trust

I report to the charity trustees on my examination of the accounts of Huggard Charitable Trust for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity trustee of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. The accounts do not accord with those records; or

2. The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Michael Jones ACCA Bevan Buckland LLP Chartered Accountants Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Date: ……

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THE HUGGARD CHARITABLE TRUST

RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Funds

RECEIPTS Income from investments Sale of investment assets TOTAL RECEIPTS LESS: PAYMENTS Donations Purchase of investment assets Management fees and administration of the charity PURCHASE OF FIXED ASSETS Transfer to investment account TOTAL PAYMENTS NET (PAYMENTS)/RECEIPTS FOR THE YEAR Cash funds at the beginning of the year CASH FUNDS AT THE END OF THE YEAR	2025 £ 82,446 986,438	As Restated 2024 £ 74,800 24,308
	1,068,885 142,700 1,014,266 23,870	99,108 178,950 123,070 15,834
	1,180,836 -	317,854 -
	1,180,836	317,854
	(111,952) 470,253	(218,745) 688,999
	358,302	470,253

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THE HUGGARD CHARITABLE TRUST

STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 MARCH 2025

CASH AT BANK INVESTMENTS: Diversified portfolios managed by: Lloyds Private Banking Charles Stanley TOTAL ASSETS LIABILITIES Accountancy fees TOTAL FUNDS (UNRESTRICTED)	2025 £ 358,302 836,096 1,062,748 2,257,147 (3,135) 2,254,012	As Restated 2024 £ 470,253 801,439 1,076,735
		2,348,427 (2,850)
		2,345,577

These accounts were approved by the board of trustees on ........ ..................................... and signed on its behalf by:

S J Thomas - Trustee

Restatement of Comparatives

The prior year figures have been restated to include receipts and payments from the charity’s investment income and capital accounts. These movements were omitted in error from the previous receipts and payments statement, and the related cash balances were shown in the statement of assets and liabilities investment balances. The restatement ensures that the receipts and payments account reflects all cash movements of the charity, providing a more complete and accurate picture of its activities.

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