COMPANY REGISTRATION NUMBER: 2509188 CHARITY REGISTRATION NUMBER: 703074 Huggard Company Limited by Guarantee Financial Statements For the year ended 31 March 2025 CARSTON ETL Chartered Accountsnts & statutory auditor 1 st Floor, Tudor House 16 Cathedral Road Cardiff CF119LJ
Huggard Company Limited by Guarantoe Trustees, Annual Report (Incorporatlng the Directorfs R8POrt) Year ended 31 March 2025 Page Trustees, annual report (incorporating the directorfs report) Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) 17 21 Statement of financial position 22 ststement of cash flows 23 Notes to the financlal statements 24
Huggard Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Director's Report) Year ended 31 March 2025 The trustees. who are 81so the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2025. Reference and admlnlstratlve detai18 Registered charlty name Huggard Charlty reglstratlon number 703074 Company reglstratlon number 2509188 Princlpal offlce and reglstered Huggard Buildings Hansen Street off Tresillian Terrace Butetown Cardiff Wales CF10 5DW The tru8taes Mrs A R Matthewson (Chalr) Mr K Haines (Vice Chair} Mr S Thomas Mr D Shadbolt (Treasurer) Mr D Williams MsJCHill Ms J P Lewls Mr W J Harrls Senlor Managemont Adam Rees - Chlef Executlve Darryn Thomas- Head of Trauma Informed Pathways Sarah Llney- Head of Finance and Facllities Audltor Carston ETL Chartered Accountants & statutory auditor 1 st Floor, Tudor House 16 Cathedral Road Cardrff CF119LJ Bankers HSBC 56 Queen Street Cardiff CF10 2PX
Huggard Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report) fcontlnuod) Year ended 31 March 2025 OBJECTIVES AND ACTIVITIES The trustees confirm that they have complied with the duty In Section 4 of the Charities Act 2006 to have due regard for the Charily Commission's guidance on public benefit. The charity's principal objectlves are: The relief of povety and its effects on homeless people. The provision of support services for homeless and vulnerable people. Huggard seeks to tackle homelessness and improve indlvldual wellbeing. for people who feel exduded and unable to access other services, to help people overcome the problems that can force them to sleep rough on our streets. It's proposed that Is updated to reflect th8 current objectives of the organisation Our Purpose Worklng wlth and for people to end their homelessness. Our Vl8lon We provide emergency housing and critlcal support to those in crisis, and work with Ihese people to ensure they have access to long term secure housing and opportunities to lead a happy. fulfilled life. Our MIs8lon8 Emergency support. Working with people In houslng and health crisis to ensure they get immediate, safe, critical and effective support 24 hours a day 365 days of the year. Su8tslnable Long-torm 8olutlon8. Working with our clients to empower them to address the causes and consequences of their homelessness - building skllls, confidence and positive networks to 8UStain a life away from the streets. Communlty. Build a communlty at Huggard, where our clients and volunteers are Involved In the development, delivery and review of our $8rvice8 and are acuve, responslble cltlzens in our Cardiff Community. Our Servlces In 24125 we delivered and developed our sorvlGe8 to meet these objectives Ourfocus on 8UPPOrtlng cll8nt8 when thoy are In crlsls Emer nc accommodation We provide access to emergency accommodation through Cardiff counclls slngle persons pathway. We have developed on out-of-hour referral programme through Cardiff council out of hours line and police. This ensures we are using voids to ensure those requiring emergency housing can access this accommodation over night and receive support during the night and the followlng day. We supported the council cold weather provision up to 60 extra places of accommodation. We look to operate as an assessment centre with rapid assessment around housing, health and other support needs of those placed in emergency accommodation. We have 25 Pods. 4 emergency rooms and 6 beds on bed spa- Emergency bed space expands to 21 during SWEP. This includes 10 female only rooms in a female only secure space.
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continu) Year ended 31 March 2025 Emer enc Da Services Huggard Centre provides food and support every day of the week. 365 days a year. Free Breakfast and subsidised lunch cooked by clients for clients. access to nurseslGPs through Cavhis. Harm reduction Hub, laundry, clothing support in a crisis and offerlng a safety net for individuals and the citylregion. Lon r tenn accommodatlon and su ort - breakin thec le of homelessness We have 47 self- contained rooms across both hostels. 19 beds In supported accommodation in the community a(xoss 4 houses that Huggard own8 allowing us to move those on who can live more independently. Development of move-on lrfe skills programme. Access to kitchens and communal space. Development of IT suites in both hostels. Preparation for greater independence and 6nding of people's homelessness. This is supported by activities in the centre and partners. Development of a food tralnlng programme kitchen and café. including qualifications. working across the Support wlth substance use and treatment Crlmlnal Justlce and Prison Immigration rights Our Practlce We operate a no wrong door approach to our servlces. We ensure clients get to the right place and get the right opportunities whether in crlsls or further along their journey. We work to 8 trauma Informed approach to our work. understanding that people have SLrffered signlficant trauma and we understand their behaviour and support with this insight. We follow a restoratlve Justice model of dealing with sanctions and warnlngs and ensure we include clients in discussions around access to services. We are a PIE service ensuring we have a psychologlcally Informed •nvironment work place with safety, security, deanliness being paramount. We have a cllent involvement programme and approach that puts clients al the heart of our service In its development. delivery and review. Everyone has a plan and we work to delivering progressive outcomes for clients who come to our service. We have done significant work over the past year in ensuring that we have renewed focus on clients having meaningful outcomes. At Huggard, we strive to ensure that every individual who accesses our services has a clear and
Huggard Company Limitsd by Guarantee Trustees, Annual Report {Incorporatlng the Director's Report) (contlnuodj Year ended 31 March 2025 purposeful support plan. Whether they are staying in our accommodation or engaging through the Huggard Centre. we are committed to providing more than just a temporary solution. By systematically assessing needs. co-producing tailored support plans, and monitoring progress over time. we empower individuals to take meaningful steps towards stability, wellbeing. and independence. Assessment Plan Multi. agency Progress Outcomes Achieved The trustees confirm that they have referred to the guidance contained in the Charities Commission's general guidance on public benefit when reviewing Huggard's aims and objectives arKI in plannSng future activities. ACHIEVEMENTS AND PERFORMANCE Huggard sets an annual work plan, reviewed by the trustees, which sets out its goals and achlevements over the year. During 2024125 Huggard's achievements are in line with the work plan set for the year. Huggard's main achievements in 2024125 in the followlng areas: Tho Huggard Centro The Huggard centre is our day service provlslon provldlng 7 days 8 week provision to rough sleepers, those broadly homeless and those living In our servlces. We provlde emergency crisis servlces every day with initial assessment, onward referral to houslng, health, a clothing store which is free, a free laundry facility. access to the Nurse Practltloner and GP 5 days a week.. housing and benefit advice as well as a access to our User Development Programme, an outdoor gym, volunteer programme and our advocacy team who support clients with complex housing, immigratlon and flnancia5 matters. We have a food programme that provides training for clients as well as delivering a free breakfast and subsldised lunch 7 days a week. We have continued to focus our work wlth those who vme sleeping rough an(J thos6 In emergency accommodation on site who had no access to daytime provlsion. Over the year we have seen an 4erage of 80 attendees each day.
Huggard Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) {Mntlnued) Year ended 31 March 2025 Individual Visits Unique Visits- Individua15 Male Female Other Breakfast served Lunch Served Rough Sleepers Referred to Accommodation 25,450 1,119 82% 17%
65,000 56,000 607 Long t•rm solutlon8 - breaklng the cycl• of hom81$ne3s While we pride ourselves on our ability to provide rapid, emergency interventions, we continue to be invested in worklng out how we Gan support clients to develop long-term solutions. We are the stepplng off point for many Into a lrfe away from homelessness. This indudes several key areas of focu8 Long temi secure accommodatlon - provided by Huggard and others Skills and Training - Key Lrfe Skills Management of Chronic Illness and Chronlc Mental111 Health Reduction of Drug and Alcohol use. Volunteering and working within the service Flnanclal stsbility Employment Below details some of the numbers associated with this work Client Presentations (Support Sessions) Successful Benefit applications Tenancies Saved or Enabled Health Services Clients supported with lon8 term treatment 2,225 712 136 345 -I,Ll': 'LiLiLI,' 4690 352 Skills and Training events Individ uals completing skil Is sessions
Huggard Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Dlr8ctor's Report) Ict>ntindJ Year ended 31 March 2025 We encourage all our clients to participate in the delivery of our services worklng in the kitchen, cleaning, rnaintenance, peer support - as well as having volunteers working from across our Huggard community. We have 448 individu81 volunteers across the 12 months. The Huggard Hostel and Ty Tresllllan Hostel Huggard operates two complete need hostels providing both emergency and out of hours accommodation as well as self-contained rooms. Emergency accommodation. We have 25 Pods. 4 emergency rooms and 6 beds on bed space Emergency bed space expands to 21 during SWEP. This includes 10 female only rooms in a female only secure space. Accommodation is rapld acKess and people are provlded wlth rapid assessments arKI access to services required to stabilise and secure more secure accommodation. This is coordlnated by our Emergency bed coordinator, We work closely with Cardlff Council to support its mission to serve individuals faclng homelessness, offering a safe space and essential support during times of crisis. This faclllty serves as a vital step toward stability and ensures that everyone has a place to rest as they begln their journey toward more permanent houslng. Accommodatlon Pro Huggard Hostel Emergency Accommodation Ty Tresillian Emer8ency Accommodation Accommodated durln 317 501 erlod Selfwcontained accommodatlon. We have 47 self- contained rooms across both hostels. Each resident a room is paired with 8 skilled key worker who leads thelr case management. creating tailored support plans that outline clear goals and steps forward. These key workers help residents identify and overcome challenges, paving the way toward more suitable long-term housing solutions and a sustsinable path out of homelessness. The Huggard hostel's outdoor spaces, including a garden and allotment, offer therapeutic activities ando unities. ard Hostel Rooms rnergency Beds 17 y Huggard Room (HSG Figures) 2024-2025 umber supported ge range old Days .ength of Stay ale ¢me 5- 54 1009/0 5 days
Huggard Company Limited by Guarantee Trustses, Annual Report (Incorporating the Directorfs Report) fcon¢lnu6d) Year ended 31 March 2025 Up to 3 months 3 - 6 months l2 months 12- 18 months ver 18 months Move on ouncil Tenancy er Frontline provider Private Rental Secondary Provider (e.g. Huggard houses) Residential Care ther, Prison, deceased etc 4.3% 4.50/0 10 27°/0 16-24 ?5-54 55-64
Huggard Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (¢ontlnu•d) Year ended 31 March 2025 Tresillian Hostel ostel Rooms mergency Beds Pods Porta Cabins y Tresillian Hostel Room (HSG Figures) 2024-2025 umber supported ge range old Days Length of Stay Up to 3 months 6 months 12 months 12- 18 months ver 18 months Move on ouncil Tenancy ther Frontlin¢ provider l¥ivat¢ Rental econdary Provider (e.g. Huggard houses) Residential Care ther" Prison, deceased etc 13 ale Fernale 10 5 - 54 years 980/0 51 days 19.5 % 12 14 16-24 25-54 5-64 10
Huggard Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Directorfs Report) (continu) Year ended 31 March 2025 Supported Houses and Low Support Houslng Huggard operaled its owned accommodation across 4 sites with 15 beds. These are small HMOS for those who are ready to live in the communty. The accommodation provides much needed second stage move on accommodation where service users can stay for longer periods and begin the process of reintegration into communities. Tenants have a support worker who aids this process of relntegration and helps facilitate a move on into fully independent living. Communlt a safe frlendl actlve rtlve lace for eve ne Ilve and work. In 24125 Huggard has provlded more services within the communlty In whlch we live. Thi8 has become a focus of the or9anlsatlon to ensure we are good nelghbours and well thought of and our ¢lleniS and staff are acting as responsible citizens. We have security on site and operate a patrol in the local area ensuring we address anti-social behaviour. We do community litter picks and work In the community on projects and belong to Cardiffs community cohesion programme. We vmrk with Keep Wales tldy to green the site and participate in their activities In the community. We work in Bute town wlth pollce as part of the Bute town Clear Hold Build initlatlve. We work with Police, Wardens and buslness and the Business Improvement Distrcit- For Cardlff to ensure the Site and 6urroundSngs are psychologically informed environments and everyone feels safe in the area. Bond Board This did not operate in 2024125 and was wound up as a service with no funding forthcomlng from Cardiff Council. Café H Huggard's soci81 enterprise coffee shop at the front of Huggard Buildings was closed for re-modelling and to review the model for opening again In 25128. Cllent8 Deaths We sadly had 5 deaths within our sep4lce In 24125. Every death has a profound effect on the servlce and irnpacts, staff and clients and volunteers. We are developlng a memorial garden in 25126 to commemorate those who have dled whlle homeless in the cty. 11
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) fcontlnuedj Year ended 31 March 2025 Sustainable Development Huggard has reviewed its energy use in partnership with Cardlff council and Arup and we will be exploring more effectlve use of renevRbles as well as linking to Cardiff heat exchange in 25126. Huggard continues to enjoy a positive relationship with Fairshare Cymru in utilising food waste in cooking and wovlding food to homeless people across the c5ty. FINANCIAL REVIEW The trustees have undertaken a financial revlew of the organisation identifying and addresslng risks that face the organisation. This has looked at dependency on income sources, budgelary control, financial reporting, the reserves and Investment policies, contract and grant rlsk. pension commitments together with the risk of error or fraud. Revlew of the flnancial poslllon at the end of the accountlng period Totsl income during the year was £3,214.031 {2024: £3,651,194), this includes fundlng of £708,365 (2024: £884,372) from Cardiff County Council Supporting People Grant. Tolal expenditure amounted to £3,247,241(2024: £3,732,111), depreciation charges of £216,181 is included within this figure. Galns and losses on investment assets consists of reallsed and unrealised gains and losses. A loss was made this year of £5,864 (2024 gain: £55,717). this is mainly due to the movement in the markets at the year end Over811 a loss of £39,074 (2024: £25,200) was made durlng the ye8r, detailed breakdown of the income and expenditure forms part of the notes to the accounts Prlnclpl• Fundlng Sources Huggard has a number of main funding streams currently active. Housing Support Grant that Is currently admlnlstered by Cardiff Council makes up 220/9 of the organisation'5 income. Housing beneftt paid to Huggard on behalf of the residents makes up a further 41% of income with the majorlty of the remainder coming from a number of grants Induding the Welsh Assembly Government, Cardiff County Council, and the Moondance and the Waterloo Foundation. Huggard is also very well supported by number of local businesses and local church networks who work very hard on our behalf, members of the local community and volunteers also provide us with signrficant support. Summary of reserves At the year end unrestricted reserves were £3,044,794 (2024.. £3,034,362), of whlch deslgnated tangible fixed asset reserve amounied to £2,467,353 (2024: £2.662,310) resulting in general funds of £577,441 (2024.. £372,052). Restrlcted reserves amounted to £357,801 (2024.. £397.455) and endowment reserve fund was £230,670 (2024: £240.523). The level of free reserves svailsble was £619,878 (2024: £500,668), however this figure does not include investments of £709,778 which can be cashed in if requlred and Hafod long term loan of £752,215. Reserves Policy The trustees have eslablished a policy which sets out that cash reserves should be at a level equal to the costs of continuation of the Charity for the period of 6 months. The Management committee have agreed that should funding suddenly cease. this level of reserves would provide an opportunity to implement contingency plans to enable to continued and sustainable operalion of the charity rf possible. In addition, the organisation has undertaken a thorough financial risk review and looked at contingency plans in relation to any posslble changes in funding. The reserves policy enables the organisation to enter a planned restructuring programme to enable a financially sustainable 12
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlroctor's Report) (contlnuod) Year ended 31 March 2025 continuation of the charity. where possible, in the event of any foreseeable funding changes. Investment Policy The trustees, having glven due consideratlon to the matter. decided that Investing in a mixture of unlt trusts and investment bonds meets their requirements. The intention here is to reach a balance beINen income generation and capital growih whilst ensuring adequate diversity, The investments for Huggard are handled by Charles Stanley and reports are produced regularty for the board to enable the Board to effectively manage investments. The Management Committee operate an ethical investment policy and avolds investment in any company that derives more than 100/0 of sales from alcohol or tobacco or Is directly involved in arms production or In the pornography industry. Rlsk RevSew The Management Commlltee has undertaken a thorough risk Sssessment of all of the organlsatlon's finances; operatlons,. HR and employment issues; Infrastructure., governance; environmental and external factors together with compliance risks with law and regulation. This exercise produced a risk management register and also a risk management actlon plan. As well as identfylng key risks the review also recorded the preventative measures that have already been taken for each of the risks identif. as well as the contingency measures to reduce the consequences and Impact. Risks have been prioritised with a risk profile accordlng to Impact and likelihood and the action required has been recorded to reduce the risk further. PLANS FOR FUTURE PERIODS This year has been a signlflcant and transformative period for our organisation. Following the departure of Richard Edwards, who made lasting contrlbutions to Huggard and homelessness provision in Cardlff. Adam Rees took over as our new leader in May 2024. This leadership transltlon marks a new chapter for us, and we are confident In Adam's vision and dedication to drlve our organisation forward. Adam has 7 months as the CEO for the period of this report. We plan to h8ve 8 new strategy for 2028 to 2029. A review of our vision, mlsslon, values and objectlves. This includes a focus on Huggard as o A provlder of emergency servlces. Accommodatlon 8nd day seriices to meet emergency needs for people who are homeless and rough sleeping, A provlder of long-term impact. That these emergency interventions a flrst steps to long term solutions to people's homelessness, ill health and povety. A psychologically informed envlronment provider. That accommodation, day centre and the environment is psychologically informed. A provider of co-produced service5. That dients co-produce our services. A provider who monitors and delivers impact. That we are Impact and outcome driven. A skills provider. That we have a programme of skills development that is core to our practice. A good neighbour. That we under our role as good neighbours and members of the wider community and a key resource for the city of Cardiff A high-quality employer. That we invest in and develop our staff team. That we are financially viable and our services sustainable. That our struclure is clear. efficient and effective and that remuneration is competitive. attractive and affordable. That our core accommodation and day centre service is met by secure statutory funding. That rentsl income reflects our true housing costs. That we identify organisational programmes that deliver our mission and seek long term secure fundir)g. donations to support these. 13
Huggard Company Llmitsd by Guarantee Trustees. Annual Report {Incorporatlng tho Director's Report) (contlnued) Year ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT The management committee presents it5 report and the audited financlal statements for the year ended 31st March 2025. Govemlng Document The organisation is a charitable company limited by guarantee and as such is governed by a memorandum and articles of association. The company was incorporated on June 6th 1990, under the Companies Act 1985 and registered as a charity on 28th June 1990. Recrultment and Appolntment of the Managemont Commlttee The directors of the company also serve as truslees of the charity and under the company's artic188 are known as members of the Management Committee. A third of the members of the Management Committee are elected for a period of 3 years this tskes place annually at the companls Annual General Meetlng. There is a broad mix of skills maklng up the Managernent Committee, these range from professional experience of local government, planning, education and church soclal responsibility. Trust Inductlon and Training Trustee Induclion and Trainlng Is the responsibilty of the Chair and the Chief Executive. All trustees are issued with an electronlc resource containing WCVA informatlon on trustee duties and responsibilities, the Ch8rlty Commission's guidance - The Essenllal Trustee.. what you rEed to know, what you need to do. Th8 resource also contains recent accounts; the current organisational budget,. the history and structure of Huggard; Huggard's Memorandum and Articles of Association,. all current policies, Huggard's Risk Management Register. current Strategic Plan,, a Code of Conduct for Trustees; Schedule of Delegated Responsiblllty and a Trustee Role description. All Trustees have attended a training session in its content and use. Organlsational Structuro The Chlef Executive supported by the Finance Manager and Head of Support and Accommodation are responsible for the day to day running of all aspects of Huggard. The Chief Executlve takes overall responsibility and reports directly to the Trustee Board. Huggard's trustees have sel out a schedule of delegated responsibility Ihat lays out the levels and boundaries of responslblllti88 delegated to key staff and provides a reporting mechanlsm to enable the trustees to monilor thls. 14
Huggard Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 March 2025 Trustees. responsibilities statement The trustees, who are also directors for the purposes of company law. are responsible for preparing the trustees, report and the flnanclal statements in accordance with applicable law and United Kingdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Practice). Company18w requires the trustees to prepare financlal statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affalrs of the charitable company and of the incoming resources and application of resources, including the incorne and expenditure, of the charitable company for that period. In preparing these flnanclal statements, the trustees are required to: In preparfng these flnanclal ststements, the trustees are required to: select sultable accountlng pollcles and then apply them consistently,. observe the methods and principles in the appllcable Charltles SORP FRS {102),' make judgments and accounting estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financlal statements., prepare the financial statements on the going concern basis unless It Is Inappropriate to presume that the charity will Continue in business. The trustees are responsible for keeping adequate accounting records that are sufflclent to show and explain the charity's transaction5 and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financlal statements comply with the Companies Act 2006. They are also spOnSible for safeguarding the assels of the charity and hence for taking reasonable steps for the prevention and detectlon of fraud and other irregularities. Each of the persons who is a trustee at the date of approval of this report confirms thal.. so far as they are aware, there Ss no relevant audit information of which the charity's auditor Is unaware., and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establlsh that the charity's auditor is aware of that information. The auditor is deemed lo have been re-appointed In accordance with section 487 of the Companies Act 2006. 15
Huggard Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) f¢ontlnued) Year ended 31 March 2025 Small Company provlslons This report has beén prepared In accordance wlth Ihe provisions applicable to companies entitled lo the smon ¢xrnpanies exemption. The trustees, annual report was approved on trustees by.. and signed,on behalf of the board ol Trustee. ... Name 16
Huggard Company Limited by Guarantee Independent Auditorfs Report to the Membèrs of Huggard Year ended 31 March 2025 Oplnlon We have audited the financial statements of Huggard (the 'charlty') for the year ended 31 March 2025 which comprise the statement of financial aGtivities (including income and expenditure account), ststement of financial position, statement of cash flov and the related notes, Including a summary of slgnlficant accounting policles. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including FRS 102 The Financial Reporting Standard appliGable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practlce). In our opinion the financlal statements: give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared In accordance with United Klngdom Generally Accepted Accounting Practice,. have been prepared In accordance with the requirements of the Companles Act 2006. Basis for oplnlon We conducted our audit in accordance wlth International Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our responsibilitles under those standards are further descrlbed in the auditors, responslblllties for the audit of the financial statements sectlon of our report. We are independent of the charltable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities In accordance with these requirements. We believe that the audlt evidence we have obtalned is sufficient and appropriate to provide a basls ft)r our opinion. Con¢lu8lons relatlng to golng concorn In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, Individually or collectively. may cast significant doubt on the parent charlty's ability to conlinue as a golng concern for a period of at le8St twelve months from when the flnancial statements are authorised for issue. Our responsibilitles and the responsibillt5es of the trustees with respect to going concern are described in the relevant sections of this report. Other Inforniatlon The other information comprises the information included in the Report of the Trustees, other than the financial statements and our Report of the Independent Auditors thereon. The trustees are responsible for the other information contained in the Report of the Trustees. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise expllcitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inGonsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we 17
Huggard Company Limited by Guarantee Independent Auditor's Report to the Members of Huggard (continuod) Year ended 31 March 2025 conclude that there is a material misstatement of thls other inforfflation, we are required to report that fact. We have nothlng to report in this regard. Oplnlon8 on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audlt: the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch w• are rèqulrad to report by axceptlon In the Ilght of the knowledge and understanding of the charlty and Its environment obtained In the course of the audit, we have not identrfied materlal mlsstatements In the trustees, report. We have nothing to report in respect of the following matters In relatlon to whlch the Companies Act 2006 requires US to report to you if, in our opinion: adequate accounting records have not been kept, or returns 8dequate for our audit have not been received from branches not visited by us. or the flnancial statements are not in agreement with the acwinting records and returns: or certaln dlsclosures of trustees, remuneration Specif by law are not made., or we have not received all the information and explanatlons requlre for our audit. or the trustees were not entitled to prepare the financlal statements In accord8nc8 with the small companies regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. Respon8lbllltles of trust088 As exp18ined more fully in the Statement of Trustees, Responslblllties, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial ststements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financlal statements that 8re free from material misstatement, whether due to fraud or error. In preparlng the financial statements, the trustees affj spOnsible for assesslng the charitable company's ability to continue as a going concern, disclosing, as appllcable. malters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilitios for the audlt of the financial statemenls Our objectives are to obtain reasonable assurance about whether the parent charity financial statements as a whole are free from malerial misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Mlsstatements can arise from fraud or error and are 18
Huggard Company Limited by Guarantee Independent Auditorfs Report to the Members of Huggard (continued) Year ended 31 March 2025 considered material if, individually or in the aggregale, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, includlng fraud, are instances of non-compliance wlth laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtalnlng audit evidence sufficient and appropriate to provide a basis for our opinion. We design our procedures so as to obtain sufflcient sppropriate audit evidence that the financial statements are not materially misstaled due to non-compliance with laws and regulations or due to fraud or ermr. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws arKI regulations this responslblllty lies with management with t oversight of the Trustees. Based on our understanding of the charity and the charlty sector, discussions wlth management and trustees we identified fin8ncial reporting standards, Charities Act 2011 and Companles Act 2006 as havlng a dSrect effect on the amounts and disclosures In the financial statements. As part of the engagement team d18cussion about how and where the charity's financial statements may be materially misstated due to fraud, we did not identfy any areas wlth an increased risk of fraud. Our audit procedures included.. completlng a risk-assessment process during our planning for this audit that speclflcally consldered the risk of fraud,. enquiry of management about the Charty's policies, procedures and related controls regarding compliance wilh laws 8nd regulations and ff there are sny known inslances of non-compliance; examining supporting documents for 811 material balances, transactions and dlsclosures; enquiry of management, about Iltlgatlons and claims and inspection of relevant correspondence,. analylical procedures to identify any unusual or unexpected relationships., specific audit testing on an¢J review of areas that could be subject to management override of controls and potential blas, most notably around the key judgments and estimates, including the carrying value of accruals, provisions and revenue recognitlon,. considering management override of controls outside of the normal operating Cycles including testing the appropriateness of journal entries recorded in the general ledger and other adjustments made in the preparation of the financlal statements including evaluatirvJ the ratlonale of slgnificant transactions, outside the normal course of charitable activity. Because of the inherent limitations of an audlt, there is a risk that we will not detect all Irregularities, induding those leading to 8 material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from t events and transactions reflected in the financlal ststements, as we will be less likely to become aware of instances of non-compllance. The risk is also greater regardlng irregularities occurring due to fraud rather than error, as fraud involves intentional concealment. forgery, collusion. omlssion or misrepresentation. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: dentify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks. and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not 19
Huggard Company Limlted by Guarantee Independent Auditor's Report to the Members of Huggard (contlnwd) Year ended 31 March 2025 detectlng a material misststement resulting from fraud is higher than for one resultlng from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain ar) understanding of internal control levant to the audlt In order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting ests'mates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evldence obtained, whether a material uncertalnty exists related to events or conditlons that may cast signrficant doubt on the charity's abllity to continue as a going concern, If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate. to mOdY our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as 8 going concern. Evaluate the overall presentation, structure and content of the financlal statements, including the disclosures, and whether the financial statements represent the underlying transactions and events In a manner that achieves fair presentstion. We communicate with those charged with governance regardlng, among other matters, the planned scope and tlmlng of the audit and significant audit findings, Includlng any significant deficiencies In intemal control that we Identrfy during our audlt. U89 of our report This report is made solely to the charity's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2008. Our audit work has been undertaken so that we might state to the charity's members those matter3 we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. Farzana Ahmed (Senlor Statutory Auditor) For and on behalf of Carston ETL Chartered Accountants & statutory auditor 1st Floor, Tudor House 16 Cathedral Road Cardiff CF119LJ Dated.. Lq, i o i l io z 20
Huggard Company Llmltsd by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Restricted Endowment funds funds Total funds Tot81 funds 2024 Unrestricted funds Note Income and endowments Donatlons 8nd legacies Charltable activities Investment Income 436.596 1,459.445 35.056 572,333 706.365 1,008,929 2,165,810 39,292 1,049,972 2,562.804 38,418 4,236 Total Income 1,931,097 1,278,698 4,236 3,214,031 3,651,194 Exp•ndlture Expenditure on raising funds: Costs of raising donations and legacies Expendilure on charitable activitles 9.000 9,000 9.030 9,10 1.915.653 1.924,653 1,318,353 1,318,353 4,236 3,238,241 3,247,241 3,723.081 Total oxpendltur• 4,236 3,732,111 Net {losses)Igains on investments 12 (247) (5,617) (5.864) 55.717 Not •xpandlturo 6,197 (39,655) (5,617) (39,074) {25.200) Transfers between funds 4,236 (4,236) Net movement in fund8 10,433 (39,655) (9,853) {39,074) (25,200) R•conclllatlon of funds Total funds brought forward Total fund8 carried forward 3,034,362 397.456 240,523 3,672,340 3,697,540 3,672,340 3,044.794 357.801 230,670 3,633,265 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing actlvltles. The note8 on pages 24 to 39 fonn part of these financial statements. 21
Huggard Company Llmited by Guarantee ststement of Financial Position 31 March 2025 2025 2024 Flxed assets Tangible fixed assets Investments 18 19 2.697,653 940,448 3,638,101 2.911.410 930,747 3,842,157 Current assets Debtors Cash al bank and in hand 20 260,413 833,839 129,814 822.154 1,094,252 951,8 Credltors: amounts falllng due wlthln one year Net current a$$ets 21 346,873 302.945 747.379 4,385,481 849,023 Total assets le8s current Ilabilltles 4.491,180 Credltors: amounts falling due after more than one year , Nel assets 22 752,215 3,633,265 818.840 3,672.340 Fund8 of the ¢harlty Endowment funds Restricted funds Unr8strkled lunds 230,670 357,801 3,044,794 3,633.265 240,523 397,455 3.034,362 Total charlty funds 24 3.672,340 These flnancial statements have been ppared In accordance with the provisions applicable to companies subject to the small companies, gime. These linanaal statement5 were approved by the board of trustees and authori$8d for i$suè on 2e/ol IJL...., and are 91gned on behalfofthe board by.. ..Trustee Company Registrallon Number- 02509188 The note¥ on pages 24 to 39 form part of the8è flnan¢ial Statemènts. 22
Huggard Company Limlted by Guarantee ststement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operating actlvltios Net expenditure (39.074) (25,200) Adjustments for.. Depreciation of tangible fixed assets Net (losses)Igains on investments Dividends, interest and rents from investments Other interest receivable and similar income Accwed income 216,161 5,864 123,733) (15,559) {442) 213.876 (55.717) (23,912) (14,506) (26,808} Changes in.. Trade and other debtors Trade and other creditors (130,599) (22,256) (9,638) (41.837) (56,311) {30,415) Cash generated from operations Interest received 16.559 5.921 14,506 Net cash froml{used in) operating activities {15,909) Cash flow8 from Invo8tlng actlvltl•s Dlvldends, interest and rents from investments Purchase of tangible assets Purchases of other investments Proceeds from sale of other investments 23,733 (2.404) (164,995) 149.430 23,912 (22,403) (57.887) 42,719 (13,659) Net cash froml(used in) investing activities 5,764 Net Incroa8el(dacr•ase) In cash and cash equlvalent8 Cash and cash aqulvalents at boginnlng of year Cash and cash aqulvalents at ond of y•ar 11.686 822,154 (29,568) 851,722 822,154 833,839 Thè notss on pag88 24 to 39 form part of these financial statsments. 23
Huggard Company Limlted by Guarantee Notes to the Financlal Ststements (contlnu•d) Year ended 31 March 2025 Accounting policies General InformatSon The charity is a public benefit entrty and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered offiGe is Huggard Buildings, Hansen Street off Tresillian Terrace. Butetown, Cardlff, Wales, CF10 5DW. Statement of complianco These financlal statements have been prepared in compliance wlth FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparlng their accounts in accordance with the Financial Reporting siandard applicable in the UK and Republic of Ireland (FRS 102) (Charltles SORP (FRS 102)) and the Compsnies Act 2006. Ac¢ountlng pollcl•s Basls of preparatlon The flnanclal statements have been prepared on the historlcal cost basls, as modified by the revaluation of certain financial assets and liabilities arKI Investment properties measured at fair value through income or expenditure. The financlal statements are prepared in sterling, which Is the functional currency of the entity. Golng con¢•rn After maklng reasonable enquiries and havlng considered other factors on the flnancial performance of the charlty and Ils current performance includlng current economic conditions, the Trustee's believ8 that the charity wlll be able to continue to fulfil its charltable purpose. will be able to meet Its Ilabllltles as they fall due, and will have adequate resources to continue in operational exlstence for the foreseeable future. At this point In tlme any long-term effect on the charltable company is unknown, but the trustees remain confident of the financial position of the charitable company and its abilty to meet its obllgations and liabilities as they fall due. Accordingly, the trustees continue to adopt the golng concem basis in in preparing the financial statements. Judgements and key sources of esllmatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptlons that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimates and underlying assumptions are reviewed on an ongolng basis. Revisions to accounting estimates are recognised in the period in which the estlmate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affecls both current and future periods. 24-
Huggard Company Limlted by Guarantee Notes to the Flnancial Statements (contiftued) Year ended 31 March 2025 Accounting pollcies Fund accountlng Unrestricted funds comprise accumulated surpluses and deficits on general funds that are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. Deslgnated funds are unrestricted funds that the Trustees of the Charity have set aside, out of general funds and comprise sums of money for specrfic projects that can either be the updating of exlsting, or the development and piloting of new, charitable services. Restricted funds comprise Income received wlth special condltlons attsched. Income for a specific purpose not spent In any year is carrled forward in the relevant fund. Endowments received are credbted directly to the relevant endowment fund, Income arL8lng from the related investments is allocated to the general fund or to the relevant restrScted fund, depending on the terms of endowment. Incomlng re80urcos All income is included in the statement of financial actlvltles when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following speclfic policies are applied to particular categories of income: Income from donatlons or grants Is recognised when th8r8 Is evidence of entitlement to the gift, recelpt is probable arKI Its amount can be measured reliably. legacy income Is recognised when receipt is probable and entitlement Is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donateil facllities and servlces are recognised In the accounts when received rf the value can be reliably measured. No amounts are included for the contributlon of general volunteers. Income from contracts for the supply of services is recognlsed with the dellvery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a partlcular purpose and returned rf unspent. in which case it may b8 regarded as restricted 25-
Huggard Company Llmited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2025 Accountlng policies f¢oneinuodJ R•sources expend Expenditure is recognised on an accruals basis as a liability is 1nGurd. Expendlture includes any VAT which cannot be fully recovered, and is classified under headings of the ststement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities. events, non-charltable trading activities, and the sale of donated goods. expendlture on charitable activities includes all costs incurred by a charlty In undertaklng activities that further its charitable alms for the benefit of its beneficlarles, including those support costs and costs relatlng to the governance of the charty apportioned to charitable activities. other expendilure includes all expendlture that is nèither related to ralslng funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expendlture categories refiecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Operatlng loaso9 Lease payments are recognised as an expense over the lease term on 8 Straight-llne basis. The aggregate benefit of lease incentives Is recognised as a reduction to expense over the lease term, on a straight-line basis. Tanglbl8 aBS•t8 Tanglble assets are initially recorded at Cost, and Subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carrled at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated Impairment losses, Items costing less than £750 are not capitalised, but written off directly to the income and expenditure account. Properties that are used for admlnlstralive purposes or that are held for the provision of social housing are treated as land and bulldings. Deproclation Depreciation is calculated so as to write off the cost or valualion of an asset, less its residual value, over the useful economic lrfe of that asset as follows: Land & buildings Motor Vehicles Equipment 2¥0 & 40/0 Straight line, no depreciation on land 25°/o Straight line 25 /[• Straight line Investments Unlisted equity investments are initially recorded at cost. and subsequently rneasured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. 26-
Huggard Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2025 Accounting policles (contlnu•d) Impalmient of flxed assets A revlew for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exlst. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Flnanclal Instruments A financial asset or a flnancial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Baslc flnancial instruments are Initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financlng transaction, where It Is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current Ilabllities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Defined contrlbution plan8 Contrlbutlons to defined contrlbutlon plans are recognised as an expense in the perlod in which the related service is provided. Prepald contributions are recognised as an asset to the extent that the prep8ymenl will lead to a reductlon in future payments or a cash refund. Debtors and ¢redltor8 recolvablelpayablo wlthln on• year Debtors and creditors wlth no slated interest rate and receivable or payable within one year are recorded at transactlon price. Any losses arising from Impairment are recognised In expenditure. Crodltors due more than one year The public benefit concessionary loan due after more than one year has been initially recorded at the value of the amounl recelved and thereafter at amortised cost using the effective interest method less any impairment losses rf any. Llmlted by guarant•0 Each member of the Board of Trustees has undertaken to guarantee the Charity's debts to the sum of £1 each. 27
Huggard Company Limlted by Guarantee Notes to the Financial Statements {contlnu•dJ Year ended 31 March 2025 Donations and legacles Unrestricted Funds Restricted Total Funds Funds 2025 Donatlons Other Glfts and Donations 128,596 126,596 Legacles Legacies 110,000 110.000 Grants Cardiff County Councll - Section 180 Huggard Charltable Trust Cardiff County Council - Housing Support Julian Hodge Foundation Moondance Foundation Substance Misuse Fund The Waterloo Foundation National Lottery Community Grant Grants - various Dumballs Project Cardrff County Councll - Capltal grants 113,616 113,616 202,434 202,434 200,000 80,000 36,245 30,000 24,102 20,835 65,101 280,000 36,245 30,000 24,102 20,835 65,101 436,596 572,333 1,008,929 Unrestricted Funds Restrlcted Total Funds Funds 2024 Donallons Other Gifts and Donatlons 137,888 137,888 L•gaGles Legacies Grants Cardiff County Council - Sectlon 180 Huggard Charitable Trust Cardiff County Council - Housing Support Julian Hodge Foundation Moondance Foundation Substance Misuse Fund The Waterloo Foundation National Lottery Community Grant Grants - various Dumballs Project Cardiff County Counc51- Capltal grants 105.809 105,809 55,000 202,488 116,800 280,000 35,144 30,000 55,000 202,488 16,800 80,000 35,144 30,000 100,000 200,000 3,600 43.243 40,000 3,600 43.243 40,000 492.888 557.084 1.049.972 28
Huggard Company Limited by Guarantee Notes to the Flnanclal Ststements (conthJu8dJ Year ended 31 March 2025 Charftsble actlvltles Unrestricted Funds Restrlcted Total Funds Funds 2025 Day Centre Huggard Hostel Supported houses Cafe, 81.047 1.115.190 221.857 41.351 81.047 1,821.555 221,857 41,351 706,365 1,459,445 706,365 2,165,810 Unrestricted Funds Restricted Totsl Funds Funds 2024 Day Centre 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 2,562,804 Induded in the Huggard Hostel income is the sum of £706,365 (2024: £655.200) from the Cardiff County Council Supporting People Grant. Induded in the Supported Houses income is the sum of £nll (2024: £229,172) from the Cardiff County Council Supporting People Grant. Investment Incomo Unrestricted Endowment Total Funds Funds Funds 2025 Income from listed investments Bank interest receivable 19.497 15.559 4,236 23,733 15,559 35.056 4,236 39,292 Unrestricted EThlowment Total Funds Funds Funds 2024 Income from listed investments Bank interest receivable 21,064 14,506 35,570 2,848 23.912 14.506 38,418 Costs of ralslng donatlons and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Costs of generating income 9,000 9,000 9.030 9.030
Huggard Company Limlted by Guarantee Notes to the Financial Statements (contlnu•d) Year ended 31 March 2025 Expendlture on charltable actlvltles by fund typ• Unrestricted Funds Restricted Endowment Total Fund8 Funds Funds 2025 Day Centre Huggard Hostel Supported Houses Bond Board Cafe Support costs 525.116 938.626 75,127 502,585 803,415 4,236 1.031.936 1,742.042 75,127 12,354 57,470 319,312 3,238.241 12,353 57,470 319,312 1.915,653 1,318,353 4,236 Unrestricted Funds Restrlcted Endowment Total Funds Funds Funds 2024 Day Centre Huggard Hostel Supported Houses Bond Board Cafe Support costs 753.960 868,483 209,535 2,736 88,942 328,684 321.934 874,229 232,585 39,145 2,848 1,078.742 1,742.712 442,120 41.880 88.942 328,685 2.252.340 1,467.893 2,848 3,723,081 10. Expendlture on charltable actlvltle8 by aGtlvlty type Activities undertaken dlrectly Support Total funds costs 2025 Totsl fund 2024 Day Centre Huggard Hostel Supported Houses Bond Board Cafe Govemance costs 1,031,936 1,742.042 75.127 12,354 57,470 93,195 185.700 17,237 1,125.131 1,927,742 92,364 12,354 63,151 17,499 3,238,241 1,174,245 1.923.127 477,547 41.880 91,657 14,625 5,681 17,499 2.918,929 319,312 3,723,081 Support costs have been allocated to charitable activitles on the basls of the trustees estimate of each activily's usage of the 5UPPQrt function. 30
Huggard Company Limited by Guarantee Notes to the Financial Statements (¢ontinu¢d) Year ended 31 March 2025 11. Analysls of 8UPPOrt costs Analysis of Analysis of support support costs costs Arkqlysis of Huggard Supported support Hostel Houses costs Cafe Total 2025 Total 2024 Analysis of support costs Day Centre Staff costs Premises Governance costs 78,887 14,308 156,229 29,471 5,874 11,363 240,990 60,823 255,792 58,268 5,681 7,874 7,875 193,575 1,750 18,987 17,499 14,625 101.069 5,681 319,312 328,685 12. Nat (losses)Igalns on Investments Unrestricted Endowment Total Funds Funds Funds 2025 Gainsl(losses) on listed investments (247) (5.617) (5,864) Unrestricted Endowment Total Funds Funds Funds 2024 Gainsl{losses) on listed Investments 33,861 21,856 55.717 13. Net •xp•ndltur• Net expenditure is stated after chargSngl{credlting): 2025 2024 Depreciation of tangible red assets 216,161 213,876 14. Audltors remunoratlon 2025 2024 Fees payable for the audit of the financial statements 9,000 9,000 15. Staff ¢osts and emoluments The total staff costs and employee benefts for the reporting period are analysed as follows: 2025 2024 Wages and salaries Social security costs Employer contributions to pension plans 1,524,573 142,870 94,950 1.647.786 141.419 95.568 1,762,393 1,884.773 31
Huggard Company Llmlted by Guarantee Notes to the Financial Statements (contlnu•d) Year ended 31 March 2025 15. Staff costs and emolumonts (continued) The average head count of employees during the year was 56 {2024.' 64). The average number of full-tirne equivalent employees during the year is analysed as follows.. 2025 No. 2024 Number of staff The number of employees whose remuneration for the year fell within the followlng bands, vre. 2025 2024 No. No. £60,000 to £69,gg9 Key Managem•nt Personnel Key management personnel include all persons that have authority and responslbS11ty for planning, directing and controlling the activities of the charity. The total compensation pald to key management personnel for services provided to the tharity was £216,671 (2024.. £133,629). 16. Trustee remunoratlon and eXn8•S No remunaratlon or other benefrts from employment wtth the charlty or a related entity were recelved by the trustees. 17. Transfer8 between fund8 Fund transfers represent the transfer of costs from restricted to unrestricted funds, where the charity has spent more on the project than was funded by the donors. This also includes transfers in relation to capital grants in which the grant funder no longer retalns any interest. Both the grant and the assoclated asset are transferred to unrestricted funds. This also includes the transfer of the endowment income which is received within the unrestricted reserves. 32-
Huggard Company Limited by Guarantee Notes to the Financial Statements fcontlnued) Year endod 31 March 2025 18. Tangible fixed assets Land and bulldlngs Motor vehicles Equipment Total Cost At 1 April 2024 Additions 5.042,108 51,766 381,911 2,404 5,475,785 2,404 At 31 March 2025 5,042,108 51,766 384,315 5,478,189 Depreclatlon At 1 April 2024 Charge for the year At 31 March 2025 2,200,128 185,915 37,722 7,022 44,744 326.525 23,224 2,564,375 216,161 2.386,043 349,749 2,780,536 Carrylng amount At 31 March 2025 2,656,065 2,841,980 7,022 34,566 55,386 2,697,653 2,911,410 At 31 March 2024 14,044 The bulldings include the redeveloped Day Centre and Hostel. A legal charge has been registered on parts of the bulldSng by Hafod Housing Association and the Big Lottery Fund. 19. Inve8tment8 Cash or cash Listed equivalents Investments Total Cost or valuatlon At 1 April 2024 Additions Disposals Fair value movements 37,612 78,241 (95,754) 893,135 930,747 86.754 164.995 (54,011) (149.765) (5,529) 15,529) 920,349 940,448 At 31 March 2025 20,099 Impairni•nt At 1 April 2024 and 31 March 2025 Carrylng amount At 31 March 2025 20,099 37,612 920,349 940,448 930,747 At 31 March 2024 893,135 All investments shown above are held at valuatlon. Listed inve8tmont8 The aggregate m8rket value of listed investments Is £920,349 (2024: £893.135) and the stock exchange value is £920,349 (2024: £893,135). 33-
Huggard Company Limited by Guarantee Notes to the Flnanclal Statements (continuod) Year ended 31 March 2025 19. Investments (¢ontlnu•d) Flnanclal assets held at falr value Investments are stated at fair value at the balance sheet date, listed investments are stated at the stock exchange values at the year end. Other Investments are valued based on investment performance. The historical cost of investments at the year end date is £731,219 (2024.. £696,561) 20. Debtors 2025 2024 Staff loans other debtors 513 259,900 260,413 1.000 128,814 129.814 21. Credltor8: amounts falllng due wlthln one year 2025 2024 Trade creditors Accruals and deferred income Social security 8nd other taxes Other ¢ditorS - staff funds Hafod loan 222,605 53.144 175,072 53.585 3,514 4,150 66,624 4,500 66,624 346,873 302.945 The Hafod loan of £66.625 is secured by a charge on the hostel. 22. Cr¢dltor8: amounts falllng due aftor morn than on• y•ar 2025 2024 Hafod Loan - long term 752,215 818,840 A public benefit concessionary 108n of £1.6m was provided to the charity from Hafod Housing Association towards the development of the hostel. The development monies were paid dIllY by Hafod to the builders, after completion an agement was entered into on the 16 July 2012 to repay the loan over a 25 year period. The loan Is secured by a charge on the hostel. The outstanding balance was £818,839 (2024: £885,463). 23. Penslons and other post retlrement beneflts Dofined contrlbutlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £94,950 {2024: £95.568).
Huggard Company Limlted by Guarants8 Notes to the Financlal Statements (¢ontlnu•d) Year ended 31 March 2025 23. P•nslons and other post retirement benefits {contlnu8d) Huggards Group Pension Scheme J60278 Is run directly by the Corporate Manager of Standard Life Client Management Limited. It is administered by the Finance Offlcer at Huggard. 24. Analys18 of charitable funds Unrestricted fund8 Al G8ins and 31 Mar 202 losses At 1 Apr 2024 Income Expenditure Transfers General funds Designated tangible fixed asset reserve fund 372,051 1,931.097 {1,924,653) 199,193 (247) 577,441 2.662.310 3,034,361 1,931,097 {1,924,653) (194,957) 4.236 2,467,353 (247) 3,044,794 At Gains and 31 Mar 202 losses At 1 Apr 2023 Income Expenditure Transfers General funds Designated tangible fixed asset reserve fund 202,541 2,206,890 {2,261,370) 190.130 33,861 372,052 2,834,983 3,037,524 2,206,890 {2.261,370) (172,673) 17,457 2,662,310 33,861 3,034,362 During the year a transfer was made from General Funds to Deslgnated Tangible Fixed Asset reserve fund which represents the movement in the book value of the tangible fixed assets at the balance sheet date and hence recognlses the v81ue that are unavallable to general funds. 35
Huggard Company Limitsd by Guarantee Notes to the Flnancial Statements (contlnu•d) Year ended 31 March 2025 24. Analysls of charitable funds (condmmd) Restricted funds At Gains and 31 Mar 202 losses At 1 Apr 2024 Income Expendlture Transfers Cardlff County Council - Supporting People Big Lottery Fund Ex-servicemen Trust Bond Board Julian Hodge Cardiff County cn¢11 - Housing Support Cardiff County Council - S180 Substance Misuse Fund Moondance Foundation The Waterloo Foundatlon National Lottery Community Grant Grants - various Dumballs Project 706,365 (706,365) (18,800) 249,100 230,300 26,347 45,549 13,355 26,347 45,549 (13,355) 202,434 (202,434) 113,616 {113,616) 36,245 (36,245) 80.000 (80,000) 30,000 30,000 (30,000) 30,000 24.105 9,000 24,102 {24,102) 20.835 {28,335) 65,101 {65,101) 397.456 1,278,698 (1,318,3S3) 24,105 1,500 357,801 At Gains and 31 Mar 202 losses At 1 Apr 2023 Income Expenditure Transfers Cardiff County Council Supporting People Big Lottery Fund Ex-servicemen Trust Bond Board Julian 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 (14.609) 202,488 (202,488) 36-
Huggard Company Limited by Guarantee Notes to the Financial Statements (contlnu•d) Year ended 31 March 2025 24. Analysi8 of charitable funds (contlnued) Cardiff County Council - S180 Substance Misuse Fund Cardiff County Council Capltal grants Moondance Foundatlon The Waterloo Foundation National Lottery Community Grant Grants - various Dumballs Prolect 105,809 (105.809) 35,144 (35,144) 40.000 (40,000) 80.000 (80.000) 27,500 30,000 (27,500) 30,000 24,105 19,519 3,600 (14,119) 9,667 43,243 (52,910) 438,501 1,441,456 (1,467,893) (14,609) 24,105 9,000 397,455 The Cardiff County Council contract for Supporting People was provided towards the hostel. The Big Lottery Fund grant was received towards the development Gosts of a tralnlng, development and enterprlse suite at the new centre. A legal Gharge over the land & buildings by the Big Lottery Fund has been registered. The fund balance will be reduced annually by the depreciation charge on the building. The Ex-sepiicemen Trust funds Vre received for the homeless in Cardlff, who have served In the Army or Navy or Alrforce of Great Britain or have been Merchant Seamen or are descendants of such persons. Bond 8oard represents fundlng for present and future bond guarantees. The Cardlff County Council Houslng Support S180 grant of £202434 is given to help fund the Night Centre project and the Day Centre. The Cardiff County Council S180 grants of £113.616 was recelved for an Advocate, Day centre, Winter pressure. Bond Officer and Engagement Team Leader post. The Substance Misuse fund relates to Cavdas, £36,245 were recelved to provide advice, support to people affecled by housing and substance misuse related Issue5. The Moondance Foundation grant of £80,000 was received towards Safe-Guard. The Waterloo Foundatior* grant of £30.000 was received towards creating New Pathway8 project. The National Lottery Communty grant of £24.102 was provided towards the cost of a Grant Counsellor. The Dumballs Projects consists of various grants from sponsors towards safeguarding and security. 37
Huggard Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Analysis of charitable funds (continu6dJ Endowment funds At Gains and 31 Mar 202 losses At 1 Apr 2024 Income Expendlture Transfers Huggard Trust Fund 240.523 4,236 (4,236) (4,236) (5.617) 230,670 At Gains and 31 Mar 202 losses At 1 Apr 2023 Income Expenditure Transfers Huggard Trust Fund 221,515 2,848 (2,848) (2,848) 21,856 240.523 25. Analysls of n•t assets botween funds Unrestricted Funds Restricted Endowment Total Funds Funds Funds 2025 Tangible fixed assets Investments Current Assets Creditors less than 1 year Creditors greater than 1 year Net a88ets 2.467,353 709,778 966,751 (346,873) (752,215) 3,044,794 230,300 2,697.653 940,448 1,094,252 1346,873) 1752215) 3,633,265 230.670 127,501 357,801 230,670 Unrestrlcted Funds Restrlcted Endowment Total Funds Funds Funds 2024 T8ngible fixed assets Investments Current Assets Creditors less than 1 year Creditors greater than 1 year Nat assets 2,662,310 690,224 803,613 (302,945) (818,840) 3.034,362 249,100 2,911.410 930.747 951.968 {302,945) {818,840) 3.672,340 240,523 148.355 397,455 240.523 26. Analysls of changes In net d•bt Al At 1 Apr 2024 Cash flows 31 Mar 2025 Cash at bank and in hand 822.154 11,685 833,839 38
Huggard Company Limlted by Guarantee Notes to the Flnancial Statements (¢ontsnued) Year ended 31 March 2025 27. Operating lease Gommltment8 The total future minimum lease payments urKler non-cancellable operatlng leases are as foll0v. 2025 2024 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 25,798 96,672 161,700 122.974 98.695 184.800 284.170 406,469 28. Related partles The company was under the control of the trustees throughout the current and prevlous year. There were no related party transactions during the year. 39