COMPANY REGISTRATION NUMBER: 02509188 CHARiff REGISTRATION NUMBER: 703074 Huggard Company Limited by Guarantee Financial Statements For the year ended 31 March 2024 CARSTON Chartered Accountants & statutory auditor 1 st Floor, Tudor House 16 Cathedral Road Cardiff CF119LJ
Huggard Company Limited by Guarantee FlnanGlal Statsments Year ended 31 March 2024 Page Trustees, annual report (incorporating the directorfs report) Independent auditorfs report to the members 15 Statement of financial activities (including income and expenditure account) Statement of financial position 19 20 st8tem6nt of cash flows 21 Notes to the financial statements 22
Huggard Company Limited by Guarantee Trustees. Annual Roport (Incorporating the Director's Report) Year ended 31 March 2024 The trust88s, vtho are also th8 dir8ct¢ys for the purposes of company law, present thelr reF)Ort and the financlal statsments of the charity for the year ended 31 March 2024. Referenca and admlnl•tratlvo dolall8 Reglsterod charlty name Huggard Charlty reglstration number 703074 Company raglstralion number 02509188 Prlnclpal offlee and r•gl$torod Huggard Buildings offlco Hansen Street off Tresllllan Terraca 8utelown Cardiff Wale8 CF10 5DW Th• trust•e$ Mr K Haines (Vice Chair) Mrs A R Matth8wson Ichalmian) Mr S Thomas Mr D Shadbolt (Treasurer) Mr D Williams MSJCHIII Ms J P Lewis Mrw J Harrls Senlor Managemant Richard Edwards- Chlef Executive Adam Rees- Chlef Ex8cutiv8 Daryn Thomas- Head of Trauma Infomed Pathways Sarah Llney- Head of Flnance and Facilities Reslgned- 30 Septsmber 2023 Jolned - 20 May 2024 Audllor Carslon ETL Chartered Accountants & statutory audltor 1st Floor, Tudor Hou98 16 Cathedral Road Cardrff CF119LJ 8ank•r8 HSBC 97 Bute Street Cardtff CF10 SNA
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) fconllnu8dJ Year ended 31 March 2024 Bankor8 Barclays 2 Windsor Road Penarth Vale of Glamorgan CF84 1YL
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Report) (Gontlnu Year ended 31 March 2024 ObJectlv•s and a¢tlvttlo• The trustees confrm that they have complied the duty in Section 4 of the Charities Aot 2006 to have due r8gard for the Charity Commission's guidanc8 on public b8n8fiL The d)arllWs prfnclpal objectlves are: The r8118f of poverty and Its effects on homeless p8opIe. Th8 provlslon of support servlces for homeless and vuln8rable people. Huggard sèeks to L%kl6 homdessnèss and improve individual wellbaing, for p8opl8 who fe81 excluded and unable to access other servlces, to help people overcome the problems th8t can forcè tham to sleep rough C our streets. Huggard valu••: To provlde safe spaces for vlsltors. resldents and 8taff that meet the needs of, and provide opportunities to, people who have exper1ered homelessness. To be welcoming and provide environments that are psychologically informed. r8cognl8lng that many of the people we work with have experlenced trauma In their Ilves. To support people by providing 8motTonal and practical help based around person centred 58rvi¢es. To empower staff, and those that use our servlces, recognlslng and developlng $tr8ngths and personal cepacity 80 th8t those using our services can live more independently and sustainably. To work collaboratively with th03e that Use our 8ervicei and with partners to maximise opportunities 8nd resources. To contlnually Improve whal do, adaptlng to changlng needs, managlng opportunities and avoiding complacency. Huggard recognlses Ihat a lack of sullable accommodatlon is only one facet of homeles8nas6 and that many of Huggard's clients have complex lives thal c8n often present bafflers lo sustaining accommodallon. Huggard therefore designs Ils servlces lo meet basic needs, identify barri8rs to breaking tha cycle of homelessness 8nd provide services that will help peopl8 overcome these barriers and develop independent sustainable lives. Our serylces focus around our Intoryentlon Centre, open 365 days of the year, a 20 room hostel with 19 addltlonal emergency spaces, 4 shared houses wlth tenant supwrt that accommodate 15 resldents. Huggard also manages Ty Tresilllan with a rolling Iwo year agreemènt, the Councll owned hostel on the same slte as our Intsrventlon Centre and Huggard Hostel. Ty Trèsllllan comprl8es 24 hostel rooms and 21 additional units of emergen accommodation. In November 2022, Huggard was asked to tske on the management of emergency accommodation within Ty Clyd, located at the Council's Housing Options Centre on the Same site as the other Huggard Buildings. This provision, initially intended as a temporary winter response, Included approximately 40 units rising to over of emergency accomm(MJallon. Although the Council redaimed direct management of Ty Clyd in March 2024 due to muhiple factors-including heightened demands on homelessness servtces citywide and the need for cost reduction-Huggard has ¢ontinued to receive furKling to support and provid8 services to the Ty Clyd cohort. Given the unprecedented demand for single-person homelessness accommodats'on. the emergency provlslon at Ty Clyd remalned operatlonal b&yond the wlnter months to address this urgent
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (¢ontlnuaQ Year ended 31 March 2024 Dlscussions regardlng lutur8 provision within Ty Clyd are underway. In lin8 with thls. Huggard has submilted a proposal to manage the project from April 2025, whiGh would wnsolidate our managem8nl of all buildings on the Hansen Street slte. The accommodation provkled on sits Is all underpinned by per80nal and tenant 8UPPOrt, development. adv¢a. substsnce misuse sUPPOrt, training and many volunteering and work-focuss8d opportunities. Huggard also ¢Jperales a borKI 8cheme to help p8opl8 who hav8 exp8ri8nc8d homelessness access the private rented saclor. Ensuring that each bulldlng op8r8t88 Safely, affectivély, and proactlvely around the needs of Clients Is paromount. The 8UPPOrt work on silo remalns as the focus of work, including enhanced ham reduction support, first responder Sntervenlion$, Iherapeulic help, advocacy. volunteering and development opportunilies. employment and digital inclusion support and Independenl Ilvlng support tog8ther with buildlng resilience and restorative practlce. Th1$ nghvork of work wlth ¢llenls 1$ eoordinated by a a small team of independent Ilvlng and se coordlnalors who will fulfil a monitoring and assessment role for those clients residing wllh us, tsklng a hollstic view of a diont* needs, and ensurlng thal the right service in engaged at the rlght time. Huggard utlllses the role of a Liaison Offlcer, a single polnt of contact for any cllent enqulrles from p8rtn8r ag8nclas. Indudlng th8 Coundl's Single Persons Gateway, the Pollce, Probation etc, who liai868 with case coordlnators and speciallst support to achieve the b98t outcomes for cll8nts. Belng at the very frontllne of homelessness seNlces, Huggard n8èd$ to bo rasponslve lo the changlng needs and demographics of thos8 pre$8ntlng to its services. Huggard constantly r8views ils work 8nd reflects on the experl8nc8s of Its cll8nt group and devolops Its S8rvlces accordlngly. Strategy development and planning are Informed by regular staff and client consultation and formal planning days Involvlng staff, volunteers and trustees. The Irust8es conflrm that they have referred to the guidance contalned in the Charities Commission's general guidance on public benefft when reviewing Huggard's aims and objectives and in planning future actlvltles.
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) (conilnu Year ended 31 March 2024 Achlovements and performanc• Huggard sels an annual work plan. revlewed by the trustees. which sets out its goals and achievements over the year. During 2023124 Huggard's achlevements are In line with the work plan set for the year. Huggard constsntly revi8WS its work looklng al the Impact of soclal, economic, and indlvidual factors. This informed the production of an Impact aryj D81ivery Assessment of Huggard's work. Huggard's main a¢hieveménts in 2023124 In the followlng areas: Tho InteThontlon Contre The Interv8ntion Centre continuas to be th8 hub of Huggard's s8rvlces and Is 8 unlque servlce in Cardiff provldlng open access seNi¢e$ to homeless and vulnerable IndividLlS 8v8ry day of the year. Huggard's IntoN8ntion Centr• is divided into saparale centras so that all cli8nls can a¢¢e$$ low threshold $8rvic6s In one area and cllents wishing to take part in structured activili8s hav8 a dedicated SP8ce away from the open access element of our work. In addition, there is a separate a¢cess to our subslance misuse service and needle oxthang8 servlce. Tho Intervents'on Centre providos unpara11818d access to a WKle range of servlces for homeless and vulnerabty housed people. These Include basic $8Nic8s such as access lo food and personal hyglene facllltles, a clothing Store which is free, a fre8 laundry facllity, access to the Nurse Practrtloner, 8 Chlropody service, access to SP8clallsed servic8s. housing and benefit advice as well as a accgsg to our U58r D&velopment Programme, an outdoor gym. Substancé Misuse Development SeNices, volunteer programme and our Advocacy project. We have continued to focus our work wlth those who were st88plng rough and those in emergency accomm¢Jdatlon on slt6 who had no access to daybme provision. Over the year we have seen an average of 70 attendees each day. Our servlce has sean incrèasing complexlty of the issues that cllenls have pr088nt8d to our serylces, wlth many of our cllents having experienced Complex traumas in thalr Ilves. Our substanc8 mlsuse sorvlce has corKluctgd 3,850 clignt 58ssion$. We also supported 227 people Inlo {BBV) Blo¢xI b(Yn virus lesting servlces, arKI provlded 373 Naloxone kits and training in usage. We have also maintained our In-house team of Flrst Responders Ihrough the Welsh Ambulance S8rvice. The advocacy team, wlthln the day centre have recelved 989 referrals. wlth 1,929 presentatlons wlth cllents over the year. The team have m8de £520,992 In financial gains dire¢tly for ¢libnts. Thls work has been v1 In glvlng many Indlvlduals a source of Incorne that can move them away from street culture activitie8 8uch a8 begglng, rellance on 8tr8et hand-outs, survival shoplifting and slreet-based sex work. In addftlon, Huggard has provlded 5.795 development sesslons wlth cli8nts over the y88r developlng cliénts, sodal and Independent Ilvlng skills, yth 347 individuals engaging in various voluntary actlvitl8s. The Huggard Hostel and Tr Tresllllan Hostel Hugg8rd Hostel and Ty Tresillian provides a supportlv8 and resourceful envlronment for Indlvlduals on their joumey out of homelessness. The hostels features rooms. each equlpped wlth en-sulle and oking facililies, allowlng regldents prlvacy and independence while they work toward stablllty. Communal areas Include comfortabfa lounges for social interaction and a lully equlpped tralnlng kitchen to develop cooking ski115. which are essential for self4ufficlency.
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (cortlntmdj Year ended 31 March 2024 Each resldent Is palred wth a skllled kéy worker who leads their case management, creating tailored support plans that outline clear goals and steps thard. These key workers help residents identify and ovorcoma chall8ngo$, paving the way toward more sultable long-term housing solutlons and a sustalnable path out of homelessness Th8 Hugg8rd hostel's outdoor Spa8. includlng a gardén and allotment. offer th8rapeutic acllvlties and opportunrties. rd Ho8t•l Hostel Rooms Emergency Bed8 Pods Hu 20 17 2023-2024 Male 29 25-54 100% 85 days rd Ho8t•l Room HSG FI Total r•• 37 Number supported Age range Vold Days Female Lon hotsla Up to 3 months 3- 6 months 6- 12 months 12-18month$ Over 18 months 24.3% 10.5% 24.546 13.5 27% 10 Mov• on CouncilTen8ncy Other Frontline provider Priv8te Rental Secondary Provider{e. Residential Care Other. Prison, decea8ed etc . Huggard houses)
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) (¢ontlnu•dJ Year ended 31 March 2024 Tr•811Uan Ho•tel Hostèl Rooms Emergency Beds Pods Porta Cabins T Tresllllan Ho•l•l Room 13 HSG FI Total 25-54year8 r•• 41 202>2024 - Male 31 Fem8l8 98% 65 + years 551 days Numbersupported Age range Vold D8y$ 10 hof Up to 3 months 3-6 months 6-12months 12-18months Over 18 months 14.6% 19.50 14.6% 29.30 12 CouncilT8n8ncy Other Frontline provider Prlv8te Rent81 Secondary Provider {e.g. Huggard houses) Residential C8re Other; Prison, dec8888d etc 14 Huggard Hogt•l EOS & Ty Trosllllan EOS Eos offers emergency ovornight stay IEOSI optlon8. provldlng Immediate and securg comModation for Indlvkluals experiencirvJ homelessness or facing urgant houslng n8eds. Eos ccrtnplemonls our main hostel by providing flexibl8, sh¢Xt-lèmi Solutions for thosè who h8va been slegping rough or in emergancy accommodations. Eo$ works clos8ty wlth Cardlff Councll to support Its rnlsslon to serve Indfvlduals facing hom88Sn8$s, offering a 59fg Spacè and 8ssential support durlng Ilm8s of crfsls. Thls facility serv9s as a vital sl8P toward stability and ensures that everyone has a place to rest as they begln thelrjoumey toward more permanent houslng. A¢commodatlon ProJ•ot Huggard Hostel Emergency Accommodation Ty Cly Emergenw Accommodation TyTresillian EmergencyAccommodation Aecommodat•d durlni p8rlod F . 213 401 412
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlr8Ctorfs Report) (¢ondRu8dJ Year ended 31 March 2024 Housing Options Centre (Ty Clyd) In October 2022, Huggard began to manage the addltlonal temporary emergency awommcéation provlsh)n In the now v8cated, HousSng Options Centre, own by the Councll. Thls provlsion be9an by housing 20 or so individuals per night and by thè end of the winter thls numbér had d58n to around 40 per night. Each resklent is glven thelr own bed and many are allocated a prfvale space to sleep. As the numbers Increased commun81 sleeping areas have been used and thesè havè been ov8rsee Ihrough the nigh by staff. to ensure the safely of all residents. The provlsion was due to ¢8ase at the end of March 2023, but high numbers of people presenting for services meant that it was not wssible to withdraw this servic8. Supportad Hous•s and Low Support Houslng In April 2023 HugJard réduced th8 number of Community Houses that it managed. handing five properties back to Ihe Housing Assoclatlons. Thls reduced the slze of this project during 2023124 a$ part of the plan across the city in phasing out the use of community shared houses to accommodate P8ople experfenclng homeles$n888. Hu998rd ¢tInUed to operate 10 units of Hou$in9 Support Grant furKled supportad houses with an addilional 5 spaces of low support accommodation across a total of 4 houses. The Funding Grant ended 31 st March 2024, operating these as low support accommodation on Housing B8nefit onty. The accommodath)n provldes much needed second stage move on ac¢ommodatlon whér8 sèNIc8 users can stay for longer periods and begin the process of reintegration Inlo communities. Tenants have a support worker who alds thls process of reintegration and helps facllltate a move on Into fully kndependent Ilvlng. Bond Boanl In the yaar anding 31st March 2024 th8 Bond Board supports 54 exlstlng bonds for resldents housed In the private rented Sector. The reduction in this work reflects issues with securlng 8ffordabl8 and quallty prlvata rentad accommodatlon wlthln the clty, wlth an Increaslng dlsparfty between local hou$lng allowance8 and pvate renL Café H Huggard's sodal enterprlse coffee shop at the front of Huggard Buildings aims lo.. provlde trainirKJ. volunteering and employment opportunities to those WIKJ have experienced homelessness. help fund the wlder bvork of Huggard and lo support elhScal Iradlng. Thls publlc faclng Café has Introduced many people who live, work or study locally to Huggard's BeNlces and has improved Huggard's profile. Loss of Rèsldents It is wlth deep sadness that we acknowledge the pa85iro of four of our hostsl residents thls year. Each of these individu818 was well supported by our dedicated staff. who worked tirelessly to provide compa88lor)ate support and asslstance throughout th8lr tlme wlth us. Their loss serves as a poignant reminder of the proft)und vulnerabilities many of our clients facè and undorsc¢)res the criti¢al importanco of tha support and community wa strive to provlde. Sustalnable Developm•nt Huggard is ccffimitted to the principles of Sustainable Development and sets itself organisational and collaboratlve challenges to put sustalnable development al the heart of Huggard. Supportlng the social. economic growth of people who have experienced homelessness has always been a primary foujs of Huggard together wlth tackllng the envlronmental Issues surrounding homelessness including communlty safety Issues. Huggard works collaboratlvely wlth Fareshare Cymru by addr855ing food poverty through the redlstrlbutlon of surplus food that would otheNAse end up In landfill. In 2023124 Huggard supplled over 27.OCKJ meals to l)omeless people through our work wh Fareshare Cymru.
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlractorfs Report) (c<>ndnuèd) Year ended 31 March 2024 Flnanclal rovlew The trustees have undertaken a financial review of the ¢Nganisation identifying and addressing risks that face the organisation. This has looked at dependency on Income sources, budgetary ¢ontrol, flnanci81 reporting, the reserves and Investment policie5, contract and grant risk. pension commltments together wlth the rlsk of error or fraud. The Impact tK)tentlal of these Issues has been assessed and the cuent measures in place to mltlgate thes8 risks r8view8d. This has produced an action plan which is reviewed regularly by th8 Trustees. Huggard's trustéés und8rtak8 an annual pay r8vi8w of staff taking into accounl compar8bl8 pay ratgs and thè financial Constraints upon thè organisalion. Revlew of the financlal posltlon at th8 end of the 8ccountlng porfod Total Income durlng the year was £3,651,194 {2023'. £3,372,617), this includes fundlng of £884.372 (2023.. £958,713) from Cardiff County Council Supportlng People Grant. Total expendlture amounted to £3,732,111 (2023: £3,512.Th3). d8preclatlon charges of £213,878 is Indud8d wlthln th18 figure. Galn8 and losse$ Investment assets ¢on$lyl$ of reallsgd and unreallsed galns and losses. A gain was made thls year of £55,717 12023 10s8: £95,434), thls 18 malnly due to the movement in the markets at the year end Over8118 loss of £25.200 (2023: £235,590} was mede durlng thg year, detailed breakdown of th8 IncA)me and expendlture forms part of the note8 to the accounts Prlnclpl• Fundlng Sourc Huggard has a number of main fundlrvJ streams currently active. Housing Support Grant that is currently admlnlstered by Cardlff Councll makes up 24% of the organisation's income. Housing benefit pald to Huggard on behaif of the resldents makes up a further 410kn of Income with thé majorlly of the remalnder comlng from a numbor of grants Indudlng the Welsh Assembly Governmènt, Cardiff County Councll, and the Jane Hodg8 Foundatlon, Moondance and tho Waterloo Foundation, Huggard is also very well supported by a number of local businesses and local church neorkS who work very hard on our behalf. members of the local community and volunteers also provlde us wlth slgnlflcanl support. Summary olre$0¥ At the year gnd unrestricted reserves were £3,034,362 (2023: £3,037,524). of which deswnated tanglble flxed asset reserve amounted to £2,662.310 (2023: £2,834,983} resultlng In general funds of £372,052 (2023: £202.541}. R8Strictod rgserves amounted to £397,455 {2023: £438.9)1) and endowment reseNe fund was £240,523 {2023: £221,515>. The level of free reserves avallable was £500,668 {2023: £449,657}, howèvèr this figure d08s not Include Invesknents of £690,224 whlch can be cashed in If required and Hafod long term loan of £818,840. ReseThes Pollcy The Irustees have established a policy which sets out that cash reserves $IVId ba at a18v818qual to the costs of contlnuation of the charity for the period of between 3-6 months. The Management Committee have agreed that should funding suddenly cease. this level of reserves would provide an opportunity to implemenl contiTrJency plan5 to enable lo conlinue(J and sustainable operation of the charity rf possible. In addition. the organisation has undertaken a thorough financial risk review and looked at contlngency plans in relatfon to any possible changes in funding. The res8rves policy
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (withu•oJ Year ended 31 March 2024 enables th8 organisatlon to enter a plann8d rastructuring programme to enabl8 a financially 8UStainabl8 continuation of the charity, where possible, in the event of any foreseeable funding changes. Inve$tment PoNcy The Iruslees, having glven due conslderatlon to the matter, declded that Investlng In a mlxiure of unlt trusts and investment bonds meets thelr requirements. The intention here Is lo reach a balance between income generation and capital growth whilst ensuring adequate diversty. The investments for Huggard are handled by Charles Stsnley and reports are produced regularly for the board lo enable the Board lo effectively manage Investments. The Management CommSttee operate an ethical Investment pollcy and avolds Inv8Stm8nt In any company that derives more than 100h of 8818s from alcohol or tobacco or Is dlrectly Involved In arm8 production or in the pomography industry. Rlsk R•vlaw The Management Commlttee has undertaken a thorough rlsk 8s8es8ment of all of Ihe org8nlgatlon' finances; op8ratlons,' HR and employment issues; Infrastwcture,. gov8mance,' environmental and external factors together wllh compliance risks with law and regulallon. This exercise produced a risk management reoisler and also a rlsk manag8mont a¢lion plan. As well as identifying key rtsks the revlew also recorded the preventative measures that have already been taken for each of the risks hJentlfied, as well as the Contingency measures to reduce the consequences and impact. Risks have bèèn prioritised wllh a risk profile according to impact and likellhtrjd and the action requlred has been recorded to reduce the risk further. 10
Huggard Company LlmFted by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (coRtlnrMd) Year ended 31 March 2024 Plan8 for lutur• porlod8 Huggard has over 35 years, experlence In provlding Wales. leading centre for people who a Sleeping rough and we hope to use this exp6rien¢e to work with partners in the third sector, as well as the statutory and trmjsiness se¢lors. to supp¢)rt people experiencing homelessness, particularly triose whose exparlence of FK)melessness has been heavily influenced by experlences of comFound trauma. In 2022123 Huggard progressed Its buslness strategy - Tackling Hom8lessness'. Improving Wellbeing Business Strategy. Huggard's businèss strategy is focussed on the followlng prforlties.. Realising the full potentlal ot the Day Cenlr8 as a hub of services for Rough Sleepèrs. Ensurlng that Huggard's accommodation and Supportlng People servlces are fit for purpose and are financlally sustalnable. Generating more revenue Income. Incrèasing communlty awareness and support for our work. Maxlmlse polentlal for partnershlp worklng. Ke8plng staff and voluntsers on board. Satlsfylng funders. Underplnned by contlnuous Improvement vAthin the organisation, Tackling Homelessness.. Improving Wellbelng wlll inft)rm Huggard's work plans over th8 next 3 years. The use of the houses owned by Huggard Is belng revléwed In Ilght ol both the redu¢tl¢)n In Housing Support Grant avallable for communlty houses acro$8 the dty and the hlgh need for 1meleSSneS8 accommodation withln the Clty at pre$enl. A focus of our futur8 plan8 Is to develop our therapeullc Interventlons, bulldlng on the work that we currently undertak8, and thls wlll equlp us better to tackl8 homelessness and Improve Sndlvldual wellbelng. In 2023, Huggard's Chief Executlve, Richard Edwards 15 left the organlsatlon after over 15 years of working tirelessly io meet th8 needs of Huggard cllents and the org8nl$ation. Huggard recognlses the Immense contribution that Rlchard has made in Supporting, developing, and growlng th8 organisalion during this tlme. A new Chief Executive has been sought and this will bring a new perspective to Huggard's services and help facllltate the productlon of an updated buslness plan for the organisation that wlll meet the challenges fa¢lng homelessness movlng fornard. 11
Huggard Company Llmlted by Guarantee Trustses. Annual Report (Incorporating the Dlrector's Report) (nIthU Year ended 31 March 2024 Structure, governance and managemont The management commlttoe presents Ils report and tho audited financlal statements for the year ended 31 st March 2024. Govemlng Document The organisation is a charitable company limited by guarantee and as such Is governed by a memorandum and 8rtides of association. The company was incorporated on June 6th 199) under the Companles Act 1985 and registered as a charfty on 28th June 199). Rocrultment and Appolntment of th• Managoment Commlttee The dlrectors of the company also serve as Irust88s of thé charity and under the company's articles are known as members of the Management Committee. A third of th8 m8mbers of the Management Committ68 ar8 élect8d for a perlod of 3 years this takes plac8 annually at the companys knnual General Meeting. There Is 8 broad mlx of skllls maklng up th& Management Commlttee, these range from profasslonal 8XP8rl8nce of local govemment, planning, education and church social responslbility. Trustee Inducdon and Tralnlnq Tru8tg9 Inductlon and Tralning is the re8p)nslblllty of the Chair and the Chlel Exacutlve. All trustse$ gre Issued wlth an electronic resource containing WCVA Infonnalion on trustse duties end rgsponslbllltle$, the Charlty Commission's guidance - The Essential Truslge: what you need to know, what you need to do. The resource 8lso contains recent accounts; the current organi88tional budget: the history and structure of Huggard. Huggard's Memorandum and Artlcles of Assoclation; 811 cuThent policies, Huggard's Risk Management Reglster, curr8nl Strategic Plan- a Code of cOndt for Trustees; Sch8dul8 of Delegated Responslbility and a Trustèe Role description. All Tru$le68 have attended a tralnlng sesslon in It8 content and use. Organls•tlonal Structur• The Chief Executive supp)rt8d by the Head of Safer Communities & Wellb8lng tog8th8r wllh the Head of Trauma Infomied Pathways are r8spon81ble for the day to day running of all aspects of Huggard, The Chlaf Executlve takes overall rgsponslblllty and reports dlrectly to tho Trustee Board. Huggard's trustees have sel out a sch8dule of delegated responsiblllty that lays out the leve15 and boundaries of r8sponsibililies do18gat8d to k8y Staff and provides a reportlng mechanlsm to enable the trustees to to monitor this. Insight 2024120 Thls year has been a slgnlllcant and Iransfomatlve perlod for our organisatlon. Followlng the departure of Richard Edwardg, who made lasting contrlbutlons to Huggard and homel8ssne85 provlslon In Cardlff. Adam Rees took over as our naw leader In May 2024. This 18adership transltion marks a new chapter for us, and we are confident in Adam's vlslon and dedication io drive our organisation foThvard. Thanks to the diligènt afforts of our senlor Manement team. the transition has beén both smooth and effeclive. The whole staff team hava Wofked tirelessty to ensure continuily, malntaining seryice levels and stability a¢ross all departments. Th8lr commitment has meant that our team experienced little disruption during thls period, and our clients have continued to receive the highest siandard of SUPFK)rt and seNice. Looking ahead. we are exclted for the vlsknn and strong leadership that Adam brings and remain dedicated to bLtilding on our strong foundatlon. upholdlng our core values. and continuing to serve our dients and communty effectively. 12
Huggard Company Limited by Guarantee Trustees. Annual Report {Incorporating the Direclorfs Report) (conthu6d) Year ended 31 March 2024 Trustees, respon51bllltles staternenl The tru5te88. who are also dirr5 for the purposes of company law. arg rgSP¢)n$ible for preparing the trustees, report and the financlal statements In accordance with applieAble law and United Klngdom Accountlng Standards {Unit8d Kingdom Ggngrally Accepted Accounting Practice). Company law requires the trustees to prepare financial ststements for each financial year. Under company law the truglees must not approv8 the financial statements unless they are satisf18d that they give 8 tru8 and fair view of the stale of affairs of the charitsble company and of the incoming resources and application of resources. Indudlng the Income and expendlturè, of thé eharitablé ¢ompany for that p8rlod. In preparlng these flnancial ststements, the trustees aro required to: In preparing these financial stalements. the trusle88 are requlrod to: salect sultable accountlng pollci88 and then apply thern conslstently., observe tho methods and principl8s in the appllcabla Charfties SORP FRS1102); make judgments and accountlng estimates that are reason8bl8 arKI prudent: 8tate whether appllcablo UK Accounting Standards have been followed, subject to any material departures dlsclosed and explained in the financial stalemenls: prepare the financial statements on the golng concern basls unless It Is inappropriate to prèsume that the charlty will continue in busln8$9. The Iruslees are responsibl8 for keeping adequate aecounling records that are $uffi¢lent lo show and explain the charity's transactions and disdose with reasonable accuracy at any Ilme the financlal position of the charlty and enable them lo ensure that the flnanclal statements compty wlth the Companies Act 2006. They are 81s0 responslble for safeguarding th8 assets of th8 charity arKI hence for taking reason8ble steps for the prevention and detectlon of fraud and other Irregularitles. Each of the persons who is a trustea at th8 date of approv81 of this report conflrms that.. so far 85 th8y are aware, there18 no relevant audit information of which the chaiity's auditor is unaware,. and they havè taken all stéps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to eslabllsh that the chartys audltor Is aware of that Infomiat*)n. The audStor Is daemed to have been re-appointed In accordance wlth sectlon 487 of the Companles Ad 2006. 13
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) (eontthu•dJ Year ended 31 March 2024 Small ¢ompany provisions Thls report has be8n prepar8d in acc¢xdance wlth th8 provisions 8pplicablè to companiès 6ntitl8d to the small companI8S 8X8mption, The trustees. annual report was approv8d on .......... trustees by: and signed on behalf of the board of Trustee. 14
Huggard Company Limited by Guarantee Independent Auditorfs Report to the Members of Huggard Year ended 31 March 2024 Oplnlon We have audited the financlal 5tatement5 of Huggard (the 'chariV) for the year ended 31 March 2024 whlch comprise th8 Stat8ment of flnancial aGlivities (including income arKI exp8nditur8 accounll, statement of flnanc181 posltlon, st8tement of cash flows and th8 r8lat8d notes. including 8 summary of slgnlficant accountlng p)Il¢les. The fln8nclal reportlng framework that has been applled In thelr preparatlon Is applicable law and United KlThJdom Accounting Standards, Including FRS 102 The Flnan¢ial Reporting Standard appllcabl8 in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting PractlC8). In our opinion the financial statements.. give a true and fair view of the st8te of the charfty's affalrs a8 at 31 March 2024 and of its Incomlng resources and appllcatlon of resources, Includln9 its Income and expenditure. for the yoar then 6nd8d; have been properly prepared In accordan¢e with United Kin9Jom Generally Acceptsd Accounting Practlce. have been prepared In accordance w6th the requlrements of the Companies Act 2006. 8a•l• for oplnlon We conducted our audll In accordancé wlth Intemallonal Standards on Audmng (UK) (ISAS (UK)) and applicable law. Our responsibilities under thos8 Standards are further de8crfbed In the audltors, responslbS111188 for the audlt of the financlal statemonts sectlon of our report. We are Indèpendent of thé charltable company In accordance wlth the ethlcal requirèments that are relevant to our audit of the financial stataments in the UK, Includlng tha FRC'S Ethlcal Standard, and we have fijlfillod our other elhical responsSblltles In accordance with these requlrements. We believe that the audit evidencg we have obtalned Is 8ufflcl8nt and approprlato to provide a basis for our opinion. Concluslons rolatlng to golng eone•rn In audlllng the financial statements. we have concluded that the trust88S' U88 of th8 golng concern basis of a¢¢(wnting in the preparation of the financlal statements Is approwi8te. Based on Ihe work we have perfomed. we have not Id9ntlfled any matertal uncertalntles relating to events or condition5 that. Indlvldually or collectively, may cast significant doubt on the parent charlty's ability to continue as o golng concem for a perlod of at least ts¥8lv8 months from whèn the finandal statements are authorlsed for Issue. Our responslbllttles and the responsibllities of the trustees wlth r8SP8Ct to golng concern are descrlbèd in the relevant Sections of this reporL Other Inforniatlon The other infomlation comprises the Infoallon included In the Report of the Trusl88s, other than th8 financial ststements and our Report of the Independent Auditors Ihereon. The trustees are r8sponsible for the 0th8r infomialion contalned In the Rewrt of the Trustees. Our op1n1 the financlal statements dS not cover the other infffination and, except to the exlenl oth8Thvise 8xplicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responslblllty Is to read the other information and. in doing so, conslder whether the other Information Is materially inconsistent with the financial statements or our knowledge obtained in the audlt or otharwise appears to be materially mlsstated. If we identfy such material inconsistencies or apparent material misstatements. we are qUired to detemine whether there 15 a material mlsstatement in the financial statements themselves. If. based on the work we have performed, we 15
Huggard Company Limlted by Guarantee Independent Audltor's Report to the Members of Huggard Year ended 31 March 2024 conclud8 that there is a material misstatsment of thls other Informatlcffl, we are requlred to r8port that facl. We have nothlng to report In thls regard. Oplnlons on othor matters prescrlbed by tho Companlo8 Act 2006 In our opinlon, based on the work undartaken in the course of the audlt.. the Infomation giv8n In the tru5ts8s' report for the financial year for whlch the flnanclal stslements ar8 prepared Is CSIStent wlth the financial statements,. and the trustees. report has been prepared In accordance wlth appllcable lagal requlrements. Matters on whlch wa ar• rèqulr•d to Mport by oxcoptlon In the light of the knowledge and understandlng of the charity and ils 8nvironmènl obtsined in the course of the audll, we have not Identlfied material misstatements In the trustees, report. We have nothing to report In respect of the followlng matters In relatlon to which the Companie8 Act 2006 requlres us to report to you If, In our opinlon.. adequat8 accountlng records have not been kept, or retums adequate for our audlt have not been re¢elved from branches not vlsited by us,- or the flnanclal stat8ment8 are rK)t in agreement wlth the accounting records and retums; or c8rtain disclosures of tru3tees' remuneratlon 8peclfled by law are not made: or we have not re¢eived all the infomatlon and explanatlons w8 r8qulr8 for our audlt; or the trustees were rt enthled to prepar8 the fln8nci81 statéments in accordance wlth the small ompanles raglme and take advantage of the small companles, exemptlons In preparlng the dlrectors, reFLIrt and from the requirement to prepare a strateglc report. Ro8ponslblllt188 of tru$te As explained more fully In the Ststement of Trustees. Responsibilities. the truste8s {who are also the directors of the charitable company for th8 purpos8s of company law) are responsible for the preparatlon of the financial statements and for being satlsfied that they give a true and falr view, and for such Internal control as the trustees delemiine is necessary to enable the preparatSon of flnanclal statements that are fr88 from materfal misstatemenl, whether due to fraud or emr. In prepang tho financial staiements, the trustees are responslbl8 for assesslng th8 charltabla CoMpanS ability lo continue as a going ¢oncem. dlscloslng. as appllcable, matters related to going C¢Jncém and using the going concem basls of accounting unlèss thé trustees either Intend to liquidate the charitabla ¢¢)ranY or to cease operations, or have rKS realistic alternative but to do so. Audltorfs rosponslblllllès for the audlt of the flnanclal statoments Our 0"8¢11Ve$ aro to obtain reasonable assurance about whether the parent charity financial statements as 8 whole are free from materlal misststement. whother duo to fraud or error. and to issue a Report of the Independent Auditors that indudes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee thal an audii conducted in accordance with ISA8 {UK) will always detect a material misststement when it exists. Misslatements can arise from fraud or error and are considered material rf. individually or in the aggrggate, they could rea80nably be expected to influence 16
Huggard Company Limited by Guarantse Independent Auditorfs Roport to the Members of Huggard Year ended 31 March 2024 the economic decisions of users taken on the basls of these financial statements. Irregularitiès. includlng fraud. are instances of non-compliance wlth laws and regulallons. We Identified and assessed the risks of material misstatemént of the finanGial ststements from irregularitles. whether due to fraud or error. and dlscussed these baÉen our audit team mgmbers. We then d8signed and perfomied audlt procedures responsive to those risks, including obtsining audit evidence sufflclent and approprlats to provide a basls for our opinion. We design our procedures so as to obtain sufficlent appropriate audit evidence that the financlal statements ar9 not materially misstated due to non-compllanc8 wlth laws and regulatlons or due to fraud or error. We are not responsible for preventing non-compllance and cannot be expectsd to detsct non-compllance with all law5 and regulatlons thls responsibilty lies wlth mana98ment wlth the oversight of the Trustees. Based on our understandlng of the charfty and the charlty sacior, di8CU83ion8 With management and trustees we Identffied flnanclal r8Wrtlng 8landards. Charltles Act 2011 and Companles Act 2006 as havlng a dlrect 8ff8Ct on the amounts and disclosures in tho flnanclal statements. As part of the engagement team discussion about how and vthere th8 Chartty's financlal ststements may b8 mat9rlally misstated due to fraud. we did not Klonufy any areas with an incr8a5ed risk of fraud. Our audlt procedures Included: completlng a 5k-aSSeSsment pr¢Jces$ durfng our plannlng for thls audlt thal sp8c6fically consldered the rlsk of fraud: gnquiry of manag6m8nt about th8 Charity's policies, procedures and related controls regardlng compllanc8 wllh laws and regutalions and if there are any known instances of non-compliance., examining $upportlng dc¢uments for all material balancès, tr8n58Ctrons and disdosures. enquiry of manag8m8nt. about Iltlgatlons and claims and inspection of relevant corr6spondenca' analytlcal procadures to Identify any unusual or un8XP8Ct8d relationships; swcific 8udlt testlng on and review of areas that could bo subject to management ovorrldé of controls and potenllal blas, Most notably around the key judgments and estlmatss, Includlng tha carylng value of accruals, provisions and revenue r8cognition; onslderlng management overrld8 of controls oulslde of the normal 0rating cycles including lestsng the approprIaten of ioumal 9ntries recorded in the general ledger and other adlustmenls made In the preparation of the flnanclal statements Including evaluating the railonale of slgnrficant transactions. outside the nomal course of charitable activity. 88cau88 of the inherent Ilmitations of an audlt. there is a risk that will not detsct all Irregu18rltle8. includlng those leading to a materlal rnlsstalemenl In the financial statements or nonwcompllance wlth regulallon. Thls rlsk Increases the more that compliancè with a law OT regulation 5s removed from the events and transactions refl8ct8d in th8 financlal stalemenls. as we wlll be less Ilkely to becc4ne aware of Instances of non-compliance. The risk Is also greater r8gardlng Irregularities occurring due to fraud rather than error, as fraud Involvés intentional concealment, fcffgery, collusion, omission or mlsr8prnsontstion. As part of an audit in aCcanCe wlth ISAS (UK). Nve ex6rcisa professional judgment and malntaln professional scepticism throughout the audit. We also: Identify and assess the risks of material mrsststem8nt of th8 financial statements, wh8lher due to fraud or error. design and perfomi audit procedures responsivo to those risks. and obtain audit evidenoe that is suffici8nl and appropriate to provide a basis for our opinion. The risk of not detecting a material mlsstat8m8nt r8sulting from fraud is higher than for one resulting from error. 17
Huggard Company Limited by Guarantse Independent Auditorfs Report to the Members of Huggard Year onded 31 March 2024 as fraud may involve collusion. forgery. intentional omissions, misrepresentsts'ons, or the overdde of internal control. Obtain an understanding of intemal control relevant to the audit in order to design audll procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinlon on the eff8CtIVen8s of the intemal control. Evaluate the approprlateness of accountlng policles used and the reasonableness of accountlng e8timatss and related disclosures made by the trustees. Conclude on the approprlatenass of the trustees, use of the going concern basis of a¢UntIng and, b89ed on the oudlt evldence obtalned, whether a materi81 uncertalnty exists related to events or condltions that may cast slgnificant doubt on the charity's 8blllty to contlnue as a going ¢oncem. If we conclude that a materfal uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financlal Statements or, If such dlsclosures are Inadequate, to modlfy our oplnlon. Our conclusions ar8 bag8d on the audlt evldence obtslned up lo the dale of our auditor's report. However. future events or condltlons may Gause the charlty to cease to continue as a golng concern. Evaluate tho overall present8tlon, structure and content of the Itnancl81 statements, Includlng the dis¢l¢y6ure$, and whgther the finanGial statements represent the undertying transactlons and events in a manner that achieves fair presentation. We communlcale wlth Ihoge charged with govemance regardlng, among other m8tter8, th8 planned scope and timing of the audit and significant audit findings, including any signlflcant deflclencle8 In Intsrnal control that we identify during our audit. Usa of our r•port This r8FJOrt is made solely to the charity's members, 05 a body, in ac¢ordanc8 With Chapter 3 of Part 16 of the Companies Act 2006. Our 8udit work ha$ be9n undertaken 50 that we might slate to the charity's members those matteryts we are requlred to state to them in an audilorfs report and for no other purpose. To the fullest extent permltted by law, wa do not accept or assumg responsibility to anyone olhor than the charlty and the charlws m8mb8rs as a body, for our audlt work, for this report. or for the oplnlon8 wa have formed. Farzana Ahmed (Sènior Statutory Audltor} For and on behalf of Carston ETL Chartered Accountants & stsbjtory audltor 1st Floor, Tudor House 16 Cathedral Road Cardiff CF119LJ Datsd: IF( IL[ 18
Huggard Company Llmlted by Guarantee Statement of Financial Actlvltles (including Income and expenditure account) Year ended 31 March 2024 2024 Rgstricted Endowment funds fvnds Totsl fund8 Total funds 2023 Unrestricted funds Incom• and ondowmant8 DonatIcS and legaclès Charllable activities Instment income 492,888 1.678.432 35,570 2,206,890 557,084 884,372 1,049,972 2,562,804 38,418 3,651.194 887,676 2,457,680 27,261 3,372.617 2,848 2,848 Total Incomè 1,441,456 Expondltur• Expéndlture on ralslng funds: Costs of raising donatlons and legacies ExpendSiure on charitabl8 activit18S 9,030 9,030 9,030 9,10 2,252,340 2,261.370 1,467.893 1.467,893 2,848 3,723.081 3,503.743 Total exwndlture 2,848 3,732.111 3,512,773 Net galnsl(losses> on investments 12 33,861 21,858 55,717 (95,434) Not eXndItur• 120,819> {26,4371 21,856 {25.200) (235,SW) Transfers betrloen funds 17,457 (14.609) 12,8481 Not movemont In funds (3,162> <41.046) 19,008 (25,200) {235,590) Roconclllatlon of funds Total funds brought f¢)rward Total fund8 carrlod forward 3,037,524 3,034,362 438,501 397,455 221.515 240.523 3,697,540 3,672,340 3,933,131 3,897,540 The statement of fin8ncial 8Ctivllies Includes 811 galns and108868 recognlsed in tha y88r. All income and expendlture derlve from Gontlnulng actlvltles. Th• notss on paw 22 to 38 fomi part of th•¥• Ilnancl•l statwnents. 19
Huggard Company Limlted by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Noto Flxed assets Tangible fixed a$88ts Investments 18 19 2,911,410 930,747 3,102,883 859,862 3.842,157 3,962,745 Current a33ats Debtors Cash at bank and in hand 20 129,814 822,154 951,968 87,977 851,722 939,699 Cr•dltor8: amounts lalllng duo wfthln on• y•ar Not Current as8•ts 21 302,945 319,441 620,258 649,023 4,491,180 Total as••t• less current Il•bllltie• 4,583.003 Creditorn: amount• falling duo aftor morn than ono yoar 22 81&840 3,671340 885,463 3,897.540 Net as•ots Funds of the charlty Endowment funds Restrlcted fvnds Unrestrlcted funds 240.523 397,455 3,034.362 3,671340 221,515 438,501 3,037,524 3,697,540 Total charlty fvnd• 24 The80 financlal 8tatem8nts have been prepared in accordance wlth the provlslon8 applicable to companlas subject lo tha small companles, regime. These financial statements were approved by th8 board of trustees and authorlsed for Issue on . and are signed on behalf of the board by: ..Trbst Company Reglstratlon Numbor: 02509188 Th• notss on paggs 22 to 38 torni part of thgso fflnanclal statem•n¢8. 20
Huggard Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operatlng actlvllles Net expenditure (25,200) {235,590} Adjustmenls for.. Depreciation of langible fixed assets Net galnsl(losses) on Investments Dividends, inl8resl and rents from invéslm6nts Other interest receivable and similar incom Accrued (Incomeyexpenses 213,876 {55.7171 (23,912) (14,506) (26,808) 201,830 95,434 124,599) (2,662) 8,527 Changes In.. Trade and other debtors Trade and other creditors (41,837) 156,311 (30A15) 51,454 (8,6541 85,740 Cash generated from operations Inter8St recèived 14,506 2.862 88,402 Not cash (used In)lfr operating aclivities (15,909) Cash flows from Investlng actlvltl•s Dlvldends, Interest and rents from Investm8nts Purchas8 of tanglble assets Purchases of other Inve8tments Pr¢x68ds from sal8 of other inveslments 23,912 (22.403 (57,887) 42,719 24,599 142,358) 144,930} 29,361 Net cash used In Investlng actlvilles (13,659) (33,328) Net (decrea•gyln¢rga•? In ca•h and cash equlvalonts Cash and cash •qulvahnts at b•glnnlng of yr Cash and cash equivalents at end of year (29,568) 851,722 55,074 796,648 822,154 851,722 The notes on pagei 22 to 38 form part of these financial statements. 21
Huggard Company Limited by Guarantee Notes to the Financial Statements (contlnuod) Year ended 31 March 2024 Accountlng poll¢l•s Gen8rn1 Infomiatlon The charlty is a public benefll enllty and a private company limited by guarantee, registered In England and Wales and a register8d charity in England and Wale8. The address of the registered offlcg Is Huggard Buildings, Hansen Street off Tresillian Terrac8, Buletown, Cardiff, Wale8, CF10 5DW. Statamont of compllanca These financlal stet8m8nts h8ve been prepar8d in compllance with FRS 102, 'The Financ181 Reportlng Standard appllcable In Ihe UK and the R8public of Ireland,, the Statement of Recommended Practice appllcable to chariti8s preparing their accounts In accordance wh th8 Flnanclal Reportlng Standard appllcabl8 In th8 UK and Republlc of Ireland IFRS 102) (chalIeS SORP (FRS 1021) and the Compant8s Act 2006. A¢¢ountlng pollcles 8a•l• of proparatlon The flnanclal statements have been prepared on the hlstorlcal cost basls, as modlfied by th8 revaluation of ¢ertaln financial assets and Ilabllltles and Investment prop8rt188 m888ur8d at fair value through Income or expendltUTe. The fln8n¢ial statem8nts ar8 PT8pai8d in slerfing. which Is th8 functional currèncy of the entity- Golng ¢oncorn After making raasonable er)qulrle$ and having consldèred oth8r f8Ctors on the financial perfomiance of the charlly and Ils current performancè Includlng current econom1¢ condlllons. tho Trnstee's belleve that the chartty will b8 able to continue to fulfll Its charitabla purpos8, wlll be atl8 to mgel Ils Ilabllltlos as they lall due, and wlll have adequate resources io contlnue in Opgrational exlstenc8 for the foreseeable future. Al this polnl In time any long-term effed on the ch8rltable company Is unknown, but the trustees remaln conftdent of the flnanclal p081tlon of the charttable company and its abllity to meel its obligations and Ilabllltles as they fall du8. Accordlngly, tha trus199s continue to adopt the golng concern ba818 In in preparing th8 financial statements. Judgements and k•y sources of ostlmatlon uncertalnty The weparation of the flnancial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates 2nd judgements are continually revlewed and are based on experience and other factors, includlng expectstlons of future events that are belleved tri be reasonable under th8 circumstances. The estimales and undedylng assumptlons ar8 révlewed on an ongolng basis. Revislons to accounllng astirnates are recognlsed in th8 period in which the estlmate is revised where the revision affects only that period, or in the period of the revlsion and future periods where the r6vision affects both current and future pèriods. Fund accountlng 22
Huggard Company Limited by Guarantee Notes to the Financial Statements fwntlnuo¢1) Year ended 31 March 2024 Accountlng pollclos Unrestrlctod ndS comprlse accumulated surpluses and deflclts on general fvnds that are availablg for use at the disGretion of the Trustees in furtherance of the general objeGtives of the Charity. Deslgnaled fund8 are unre8trlcted funds that the Trustees of the Chartty have set aslde, out of general fvnds and comprise sums of money for specific projects that can either be the upd8ting of existing, or th8 dev8lopment and piloting of new. charltab18 seNIc8S. Re8trlct8d fund8 comprise incom8 rècèiv8d with $p8cial ¢ondition$ attached. Incom8 for spe¢lflc purpo$e not spent In any year 1$ ¢arriod fornard in tho ral8vant fund. Endowments recelved are credltsd dlrectly to the relovant endowment fund. Income arfsing from the related Investments is allocated lo th8 98n8r81 lund or to th8 r818vanl restrlcted fund. dependlng on tha tems of 8ndowmant. Incomlng resources All income is included in the statament of financial 8Ctivities when gntitlement has passed to the charity, it is prob8ble Ihat the economlc beneflts associ8ted wtth the trans8dion will flow to the charity 8nd the amount can be rellably measured, The followlng specmc pollcles are applled to particular c4tegories of Incom8: Income from donatlons or grants 1$ re¢trJnl$ed when the 1$ eviden¢e ol entitlement to the glft, receipt 1$ probable and its amount can be moa$ured reliably, legacy income is recognised when receipt Is probable anrj entitlement Is established. Income from donated gotxls is measured at Ihe fair value of the goods unless Ihi$ is impractical to m8asure reliably. In whlch case th8 value Is d8rived from the cost to the donor or th8 8Stimated resale value. Donated facilities and servic8s ar8 recognised in th8 accounts when received Sf the value can be rellably measured. No amounts are included for the contribution of general volunteers. Income from contracts for the supply of servlces is recognlsed with the delivery of the contracted service. This is classrfied as unrestricted funds unless there is 8 contractual requirement for it to be spent on a parU¢ul8r purpose and retumed If unspent, in whlch case it may be regarded 88 restricted 23-
Huggard Company Limited by Guarantee Notes to the Financial Statements (wntlnts8dJ Year ended 31 March 2024 Ac¢ountlng pollclos (rnntlnued) Resources expondod Exp8nditur8 is r8cogni88d on an accruals basis as a liability is Incurred. Expendlture includ8s any VAT which cannot be fully r8COV8red. and is classified under headings of the statement of financial activit188 to which it relates.. expenditure on raising funds Includes the costs of all fundralslng actfvStles. events. non-charltable tradlng actlvltles, and thè sal8 of donat8d goods. expendltura on charltable actlvltlès indudes all Costs in¢urred by a charity in undertaklng actlvltlés that further its charitable aims for the benefit of its beneficiaries, Including those support costs and costs relating lo the governance of the charity apportionéd to charitsble a¢tivities. other expenditure includes all expendlture that Is nellher rolated to ralslng furKJs for the charlty nor part of its expenditur6 on charltabla activllles. AII costs are allocated to expenditure categorles reflectlng the use of the resource. Dlrect Msts attributable to a single a¢tlvity are allocated dlreclly to that actlvlty. Shared costs are apportloned betsveen th• activitigs they contribute to on a reasonable. justifiable and consistgnt basis. Oporatlng1oa808 L8as8 payments ar8 r8cognis8d as an 8xpens8 over the18ase tarrn on a stralght-Iln8 basls. Th8 aggregate benefit of lease Incentlv88 18 r8cognisèd as a reduction to expense ovèr the lease t8m, on a str8lght-line basi5, Tanglbl• a89•t• Tangible 8$8ets are Inltlalty recorded at Cost, and subsequently stated at cost le88 any aUmUl8t8d depr8clatlon and Impalrment losses. Any langible assets carriod al revalued amounts are recorded at the falr valu8 at the dat8 of revaluation 18s8 any subsequent accumulated d8pr&clatlon and subsequent aUmulated lrnpalrment losses. Items cosllng less than £750 are not ¢apitalised. but wrltten off direcuy to the income and expenditure account. Propertl8s that are used for admtnislralive purp05e8 or that are held for the provision of social hw$ing are treated a8 land and buildings. Depreclatlon Depreciation is calculated so as lo write off the cost or valuation of an asset. Fess its residu81 value, over the useful economic1rf8 of that asset as follows- Land & buildings Motor Vehicle8 Equipment 2% & 40A Stralght Ilna. no depreciation on land 25% straight line 25% stralght Ilne Inv•stmènt• Unlisted equlty Investments are Inltlally recorded at cost, and subsequonuy measured at fair value. If falr valuo cannot be r8llably m8asur8d, assets are measured at cost less impaim)ènt. Llsted Investrnents are measured at fair value with changes In f8ir value being recognised in income or expenditure. 24
Huggard Company Limited by Guarantee Notes to the Financlal Statements (conthjued) Year ended 31 March 2024 Accountlng pollcl•8 (corfh Impalmient of flxed 4989ts A rèview for indicators of impalment Is carrfèd out at ea¢h reporting date, wlth the recoverable amount being esllmated where such indicators exist. Where the carrying value exceeds the recoverable amount, tha asset Is impaired accordingly. Prior Impairments are also reviewèd for posslble r8v8rsal at each reporting date. Flnanclal Instruments A flnancial asset or a financial liabillty18 recognlsed onty when the entty b8comes a party to tho contractual provlslons of the Instrument. Ba81c financial Instruments are Inltlally re¢ogn18ed at the amount rec8lvable or payable Includlng any ralated transactlon costs. unless the arrangement constilvtes a financlng transactlon, where tt Is recognlsed at the present valu8 of the futura paym8nls dlscounted at a market rate of Interest for a slmllar debt instrumenL Current assets and current liabilities are subsequently measured at Iha cash or 0th8r consideration 8XP8ctsd to be pald or received and not dlscounted. Debt Instruments are subsequ8ntly mèasured at amortised cost. D•finad conlrfbutlon plans Contributions to deflned contrfbutlon plans are r8cognis8d as an expense In the perlod In whlch the related sarvlce Is provided. Prep81d contributions are recognised as an asset to the extent that the prepayment wlll lead to a reduction in future payments or a cash refund. Dobtorn and credftors rncelV4blpayab1¢ wlthln on• y•ar Debtors and creditors with no ststed Interest rate and rec8ivabl8 or payable within one year aro recordéd at transaction prf¢e. Any losses arising from Impairment are recognised in 8xp8nditurè. Credltors due moro than one year The publlc benefit concesslonary loan due after more than one year has been Inltlally r8cord8d at the value of the amount r8c8lved and thereafter at amorti$ed cost uslng the effectlve Int8ra8t method less any impalment Ioss8s rf any. Llmlted by guarants• Each member of the Board of Trustees has undortaken to guarantee the Charivs debts to Ihe Sum of £188ch. 25
Huggard Company Limited by Guarantee Notes to the Financial Statements (wndnu•d) Year ended 31 March 2024 & DonallrM8 and l•ga¢lo$ Unrestrictéd Funds R6strict&J Total Funds Funds 2024 Donallon$ Olher Gifts and Donations 137,888 137,888 Grants Cardiff County Councll - Section 180 Huggard Charllable Trust Cardiff County Council - Housing Support Jullan Hodge Foundallon Moondance Foundatlon Substance Mlsuse Fund Thè Waterloo Foundatlon Grants - varlou8 Dumballs Project Cardiff County Council - Capltal grants 105,809 105.809 55.000 202,488 116,800 280,000 35,144 30,000 3,600 43,243 40,000 55,000 202.488 16,800 80,000 35,144 30,000 3,600 43,243 40,000 100,000 200,000 492,888 557,084 1.049,972 Unre8trlcted Funds Restricted Total Fund8 Funds 2023 Donallon• Othar Glfts and Donatlons 142,769 142,769 Grants Cardlff County Councll - Sectlon 180 Huggard Charltable Trust Cardlff Ct)unty Coun¢ll - Houslng Support Julian Hodge Foundation Moondance Foundation Substance Misuse Fund Th8 Wat8rloo Foundation Grants - various Dumballs Project Cardlff County Councll - Capital grants 105,809 105,809 191.026 16,800 40.000 42,624 32,500 22,648 43,500 191,026 66,800 240,000 42,624 32,500 22,648 43,500 50,000 2CQ,000 392,769 494,907 887,676
Huggard Company Limited by Guarantee Notes to the Financial Statements (Mntinu Year ended 31 March 2024 Charftabla actlvltl88 Unrestricted Funds Rèslrfcted Total Funds Funds 2024 Day Centr8 Huggard Hostel Supported houses Cafe, 108,848 1.063.552 452,438 53,594 1.678.432 108,848 1,718,752 681,610 53,594 655,200 229,172 884,372 2.$62,804 Unrestrlcled Fund8 Restricted Total Funds Funds 2023 Day Centr8 Huggard Hostel Supported houses Cafe, 90,976 1,010,870 351.935 45.187 90.976 1,685,726 635,791 45,187 674,856 283,857 1.498,968 958,713 2.457.680 Included In the Huggard Ho8tel Income Is the 8um of £655,200 {2023- £674.856) from the Cardiff County Councll Supportlng People Grant. Included In the Supported Houses Income 1$ the sum of £229.172 {2023: £283,856) from the Cardiff County Council Supporting People Grant. Invosthient Ineomo Unrestrleted Endowment Total Fund• Funds Funds 2024 Incom8 from listed inv8stm8nts Bank Interest receivable 21.064 14,506 2,848 23.912 14.506 35,570 2,848 38,418 Unrestricted End¢)wment Total Funds Funds Funds 2023 Income from listed investments Bank Interest recefvable 22,338 2.662 25.000 2,261 24,599 2.662 2,261 27,261 Costs of ral$lng donatlons and lega¢le$ Unrestricted Total Funds Unrestrlcted Total Funds Funds 2024 Funds 2023 Costs of generating income 9,030 9.030 9.030 9.030 27
Huggard Company Limited by Guarantee Notes to the Flnanclal Statements (¢onllnu•d) Year ended 31 March 2024 Exp•ndlturo on charltable actlvltles by fund type Unrestricted Funds Restricted Endowmènt Total Funds Funds Funds 2024 Day Centrg Huggard Hostel Supported Houses Bond Board Cafe Support sts 753,960 868,483 209,535 2,736 88.942 328.685 321,934 874,229 232,585 39.145 2,848 1,078,742 1,742,712 442,120 41,880 88,942 328,685 3,723,081 2.252.340 1,467,893 2,848 Unreslrlcted Funds Re$tri¢ted Endowment Total Funds Funds Funds 2023 Day Centre Huggard Hostel Supported Houses Bond Board Cafe Support costs 582,116 822,978 172.080 8.257 96,620 303,449 241,231 951,562 287.269 35,921 2,260 825,607 1,774,541 459.349 44,176 96.620 303.450 1,985,500 1.515,983 2,260 3.503,743 10. Exp•ndlturo on ¢harltable •¢tlvltlg• by actlvlty typo Actlvltl88 undertaken directly Support Total funds cost8 2024 Total fund 2023 Day Centre Huggard Host81 Supported Houses Bond Board Cafe Govemance costs 1,078,742 1,742,712 442,120 41,880 88,942 95,503 180,415 35,427 1,174,245 1,923,127 477,547 41,880 91,657 14,625 945,096 1,887,450 515,272 44,176 96,620 15,129 2,715 14,625 328,685 3,394,396 3,723,081 3,503,743 Support costs havg been alloted to chantable activities on the basls of the trustees estimate of each actlvlty's usage of the support function. 28
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Huggard Company Limlted by Guarantee Notes to the Financial Statements (GonUnu•dJ Year ended 31 March 2024 12. Net galnsl(108ses) on Inve8tmenls Unrestricted Endowment Total Funds Funds Funds 2024 Galnsl(losses) on Ilsted Investments 33.861 21,856 55,717 Unrestricted Endowment Total Funds FundL4 Funds 2023 Gainsl{1086es) on Ilsled Investments (83,340) 112,095} (95.434) 13. Net expendlture Net expenditure is ststed after charglng1(crediting): 2024 2023 Depreciation of tsnglble )Ixed assets 213,876 201.830 14. Audltors remunoratlon 2024 2023 Fegs P8yable for the audlt of the ffinanclal statements 9.000 9,000 15. Staff cost• and omolum•nt• The total staff costs and employee benefits for Ihe roportlng pedod are analy$od 89 follows: 2024 2023 Wage8 and 8alarle8 Soclal securlty costs Employer contribulions to pension p18ns 1,647,786 141,419 95,568 1.671,690 144,105 98,586 1,884,773 1,914,381 The average head count of employee$ durlng tho ye8r was 64 (2023.. 631. Tho average number of full-tim8 equlvalent employees durlng the year is analysed as follows.. 2024 No. 2023 No. Number of staff 64 The number of employ8es whos8 remuneration for the year fell within the following bands. were.. 2024 2023 No. No. £60,000 to £69,999
Huggard Company Llmlted by Guarantee Notes to the Financial Ststements fconllnu•d) Year ended 31 March 2024 1& Staff ry>813 and •moluments (¢onflnu•d) Key Managemont Personnal Key management P8rsonn81 include all persons that have aulhodty and responslblllty for planning, dlrectlng and controlling the activtties of th6 charfty. Th8 total ¢ompensation paid to key managemenl personnel for s8rvic8s provlded to the charfty was £133,62912023.' £177,000>. 16. Trustao r•muneratlon and exponsos No r8muneratlon or other b8n8fits from employment with the charity or a related entlty w6r8 rèceived by tha trustees. 17. Trnnsfers belw8an funds Fund tr8n8f8rs rapre89nt the transfer of costs from r8$tri¢ted to unrestricted fvnds, where the charity has spent more on Ihe proJ8ct than was funded by the donors. This also includes transfers in relation to C8pltal grants in which th8 grant funder no longer retains any inleresl. Both the grant and the assoclated asset are Iransferred to unrestricted funds. Thls also includes the transfer of the endowment income whith is received wilhin the unrestrictgd reserves. 18. Tanglble flxod aslets Land and bulldlng8 Motor v£hlcle$ Equlpm8nl Total Cost At 1 April 2023 Additlons 5,042,108 51,766 359,508 22,403 381,911 5A53,382 22,403 5,475,785 At 31 Mar¢h 2024 5,042,108 51,766 Depreclallon At 1 Aprll 2023 Charge for the year At 31 March 2024 2,014,213 185,915 30,699 7,023 305,587 20,938 326,525 2,350,499 213,876 2,200,128 37.722 2,564,375 Carrylng amount At 31 March 2024 2,841,980 3,027,895 14,044 55,386 2.911,410 3,102,883 At 31 March 2023 21,067 53.921 The buildings include the redeveloped Day Centre and Hoslel, A legal char98 has been reglstered on parts of the bulldlng by Hafod Houslng Association and the Big Lottery Fund. 31
Huggard Company Limited by Guarantee Notes to the Flnanclal Statements (Gontlnu•d) Year ended 31 March 2024 19. Investmonls Cash or Cash Llsted equivalents investments Total Cosl or valuatlon At 1 April 2023 Additions DI8POS81$ Falr value movom8nts 28.721 37.904 (29.013> 831,141 19.983 {13,531) 55,542 893,135 859,862 57.887 (42,544) 55,542 930,747 At 31 March 2024 37,612 Impalmiént At 1 Aprll 2023 and 31 March 2024 Carylng amount At 31 Morch 2024 37,612 893,135 930,747 859,862 At 31 March 2023 28.721 831.141 All investments shown above are h8ld at valuallon, Ll$t•d Invoslments The a9gregate market value of Ilstg(I Investments 18 £893,135 (2023: £831,141) arKI the stock exchange value 18 £893,135 (2023: £831,141). Flnan¢lal a8$•1• hold at falr valuo Inv8strnent8 are Staled at fair value at th& bal8ncg sheet date, Ilsted Investments are stated at the stock exchange values at the year end. Other Investments ar8 valued based on investment performance. The hlstorfcal cost of Investments at the year end dats Is £696.561 (2023: £878,396) 20. Debtors 2024 2023 Staff bans Othar debtors 1,000 128,814 129,814 1,500 86,477 87.977 32
Huggard Company Limlted by Guarantse Notos to the Financial Statements Year ended 31 March 2024 21. Creditor¥: amounts falllng due wlthln one year 2024 2023 Trade crèditors Accruals and deferred income Social security and other taxes other creditors - staff funds Hafod loan 174072 53.585 3.514 4,150 66,624 137.717 80.393 28.831 5,875 66.625 302,945 319.441 The Hafod loan of £86,625 is 8acur8d by a charge on the hostel. 22. Crodltor8: amounts falllng duè after moro than one yéar 2024 2023 Hafod Loan - Icfflg terni 818.840 885,463 A public benef ¢oncesslonary loan ot £1.6m was provided to the charity from Hafod Housing Assoclatlon towards the development of the hosld. The development monles were pald dlreclly by Hafod to the builders, after completion an agrgement was entered into on the 16 July 2012 10 repay tha loan over a 25 year perlod. Tho loan Is socured by a charge on th8 hostèl. The oulstsndlng belan¢e was £885,464 (2022.. £952.088>. 23. Pon$ion• ind othor post rotlr•mont b•nellls D•fln8d Mntrfbutlon plans The amount recognis8d in Incomg or expenditure as an 8xp8nse in relation to defined contribulion plans was £95,568 (2023: £98,586). Huggards Group Pension Scheme J602781s run directty by the Corporate Manager of Stsndard Llfe Client Managemenl Umlled. It 18 8dminlsler8d by the Flnancè Officér at Huggard. Contributlons outstandlng at the year end are £nll (2023 £nll). 33
Huggard Company Limited by Guarantee Notes to tho Financial Statements (¢ontlnu•dJ Year ended 31 March 2024 2& Analy818 of charltabl• fund8 Unro8trlct•d funds At Gains and 31 Mar 202 loss88 At 1 Apr 2023 Income Expendlture Transfers General funds Deslgnated tangible fixed asset reserve fund 202,541 2,206,890 (2,261.3701 190,130 33,861 372,052 2,834,983 (172,673) 17,457 2,862,310 33,861 3,034,362 3,037.524 2,206,890 (2,261,370) At Galns and 31 Mar 202 1088e8 At 1 Apr 2022 Income Expendlture Transfer8 General fvnd8 Deslgnatad langibla flxed a8S8t réserve fund 192.433 1,916.737 (1,994,530) 171,241 {83,340} 202,541 2,975,654 {140,6711 30,570 2,834,983 {83,340) 3,037,524 3.168.087 1,916,737 (1,994.530) Durfng ihe y88r a transfer was made from General Funds to Deslgnal8d Tangible Fix8d Asset reserve fund which represents the movement In the book valu8 of th8 tangible fixed a558ts al the balance Sheet dale and hence reeognisa8 the valug Ihat are unavailablé to general funds. Rostrlctod funds At Galns and 31 Mar 202 losses At 1 Apr 2023 Income Exp8ndilure Transfers C8rdlff County Coun¢ll- Supporting People Big Lott8ry Fund Ex-servlcèmén Trusl Bond Board Jullan Hodge Cardiff County Council - Housing Support 884.372 (884,372) (18,800) 267,900 249,100 26.347 52.299 11.164 26,347 45,549 13,355 {6,750> 16,800 (14,6091 202.488 (202.488)
Huggard Company Llmlted by Guarantee Notes to the Financial Statements (conUnu•d) Year ended 31 March 2024 24. Analys1$ of ¢harltablo funds (Gontlnu Cardlff County cjnI- S180 Substanc8 Ml$use Fund Cardiff County Council - C8Pit81 grants Moondance FndatIon The Waterloo Foundallon Natlonal Lottèry Community Grant Grants- varlou8 Dumballs Project 105.809 (105,8091 35,144 (35,144) 40,000 {40,WO) 80.000 (80,0001 27.500 30,000 (27,500) 30,000 24,105 19,519 3,600 (14,1191 9,667 43,243 (52,910) 438,501 1.441,456 (1,467.893) (14,6091 24,105 9,000 397,455 At Galns and 31 Mar 202 Ioss88 At 1 Apr 2022 Incoma Expendlture Transfers Cardrff County Council - Supportlng People Big Lottery Fund Ex-servlcernen Trust Bond 8oard Julian Hodge C8rdlff County Council . Housing Support Cardiff County Council - S18Q Substanc8 Mlsus8 Fund Cardiff County Council Capllal grants Moondan¢o Foundatlon The Waterloo Fwndatlon National Lottery Community Grant Grants - varioug Dumballs Project 958.713 {958,713) {18,800) 286.700 267,900 26,347 55,809 22.674 28,347 52,299 11,164 (3,510) 16.800 (28,310> 191,028 (191.026} 105.809 {105,809) 42.624 142,624) 48,812 {48.8121 40,001 40.000 (80,0001 11.393 32,5C (16,393) 27.500 24,105 13,333 24.105 19.519 9.667 22.648 (16.4621 43,500 (33.B33) 529.174 1,453.620 (1.515,983) {28.3101 438,501
Huggard Company Limited by Guarantee Notes to tho Financial Statements (contlnu•dJ Year ended 31 March 2024 24. Analysls of charftable funds (contlnu*• Cardiff County Council contract for Supporting Peoplè was provldèd towards the hostal and supported housas. The Big Lottery Fund grant was r8ceived towards the development Costs of a training, development and enterprise suite at th8 new contré. A18gal charge over the land & bulldings by th8 Blg Lottery Fund ha8 been regis18red. Th8 fund balanc8 will be reduced 8nnu8lly by the depreclatlon charge on the buildlng. The Ex-seNicemen Trust funds were received for thé homaless In Cardlff, wtto have s8rved In the Army or Navy er Airforce of Great Britain or have been M8rchant Seamen or arè descendants of Such persons. Bond Board repreBent$ funéing for present arKI future bond guarantees, The Julian Hodge grant of £16,800 thi$ year Is fijnding towards Smplementation of an new CRM syslom In-Form wlthln Huggard services. The system purchase costs have been capllaliséd as fixed asset addition and have b88n transferred to unrestricted fundlng as the funder has no long term intarest In the system. The Cardiff County Coun¢il Housing Support S180 grant of £103,858 is glven to help lund the Nlght Centre project and £98,630 was received for the Day Centre and AdvOta project. The CardSff County Councll S180 grants of £105,809 was receiv&d for an Advocate, Bond Offlcar and Engagement Team Leader post. The Sub$tsn¢e Mi$us8 fund ralates to Cavdas, £35,143 were received to provide advlce, 8UPPOrt to peoplg aff8Ct8d by houslng and subslance misuse relaled issues, Cardlff County Councll hav8 provided funding towards toward$ remedlal works to Tresillian House In the prevlous year. The balance was expended during the y8ar of £40,000. The Moondance Foundation grant of £80.000 was received towards Safe-Guard. Th8 Waterloo Foundation grant of £30.000 was recelved towards creating New Pathways project. The National Lott8ry Community grant of £24,102 was provided toward8 the cost of a Grant Counsellor in the previous year and has been carded forward. The Dumballs Proleds conslsts of v8rfous grants from sponsors lowards safoguardlng. 36
Huggard Company Limited by Guarantee Notes to the Financlal Statsments (wntinu• Year anded 31 March 2024 24. Analysls of charltablo fund8 {Mnllnuod) Endowm•nt fund$ At Gains and 31 Mar 202 'losses At 1 Apr 2023 Income Expgndlture Transfers Huggard Trust Fund 221.515 2,848 (2,8481 (2,848) 21,856 240,523 At 1 Apr 2022 Galns and 31 Mar 202 losses Income Expendituro Tr8nsfors Huggard Trust Fund 235,870 2,261 (2,260) 12,261) (12,0951 221,515 25. Analysls of nat assets betwoon fund• Unrestrlcted Fund8 Restrlcted Endowment Totsl Funds Funds Funds 2024 Tangible fixed assets Investments Current AssetB Credltors less than 1 year Crodltor8 greeter than 1 year N•t a88•18 2,662,310 690.224 803,613 {302,945) {818,840} 3,034,362 249,100 2,911,410 930.747 951,968 1302.945) 1818.840) 3,672,340 240,523 148,355 397,455 240,523 Unrestricted Funds Réstrlclad Endowment Tot81 Funds Funds Funds 2023 Tanglble fixed assets Investments Current Assets Creditors less than l yoar Creditors greater than 1 year Not assets 2,834,983 638,347 769,098 (319.441) (885.463) 3,037,524 267,900 3,102.883 859,862 939.699 (319,441) (885,463) 3,697,540 221.515 170,601 438,501 221,515 26. Analys18 of changes In not debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 851,722 (29,568) 822,154 37
Huggard Company Limlted by Guarantee Notes to the Financial Staternents (conthv•d) Year ended 31 March 2024 27. Operating lea80 Gommltments Thè total future minimum lease paym8nls under nonncelIable operating leases are as follows: 2024 2023 Not later than 1 year Later than 1 year and nol later than 5 years Later than 5 y8ars 122,974 98,695 184,800 90.582 100,718 207,900 406,469 399,200 28. R•latad partlo* Th8 company w88 under tha control of the trustoes throughout the current and pr8vious year. There were no relatad party transactions durlng th8 year. 38