The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Memorandum and Articles of Association dated 20 November 1991, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
The trust's objects are to advance the education of the public in all aspects of hydrocolloids and related substances. The principal activities continued to be related to the organisation of International Conferences to expand awareness.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
The Trustees have been active in the organisation of the 22nd Gums and Stabilisers for the Food Industry Conference which will be held at the Wageningsche Berg Hotel and Conference Centre, in Wageningen, The Netherlands in June 2025. The Conference will be hosted by Professor Markus Stieger and Professor Elke Scholten. A number of internationally renowned speakers have been invited to give Plenary Lectures at the Conference namely, Dr Daniel Wefers, Martin Luther University, Germany, Dr Christophe Schmitt, Nestle Research, Switzerland, Professor Maria Jose Fabra, IATA-CSIC, Spain, Professor Tara Grauwet, KU Leuven, Belgium and Professor Alexander Mathys from ETH Zurich, Switzerland. Keynote speakers will include Professor Sarkar, University of Leeds, UK, Dr Edwards, Quadram Biosciences, Norwich, UK, Professor Nishinari, Japan, Professor Martinez, University of Valladolid, Spain and Dr Dhital, University of Monash, Australia. The number of Abstracts submitted by delegates wishing to participate in the Conference has been significantly higher than for previous Conferences and the Trustees expect that it will be a very successful Conference both scientifically and financially. The Trustees have once again offered a reduced fee for students to encourage them to attend. The Chairman of the Trust has sent out a Call for Nominations for the Food Hydrocolloids Trust Medal and the G.O.Phillips Young Scientist Award and the recipients will be decided in early 2025.
There was no Conference held during 2024 and hence overall there has not been much financial activity. Expenditure in the calendar year amounted to £3,792. An additional expense this year was for an independent examination of the accounts which is required to comply with current legislation.
Charitable income received over the year was £8,151.57. This was made up of a late registration for the 2023 Conference, and £7,527 of deferred income for sponsorship for the 2025 Conference from Elsevier, Netzsch and Stable Micro Systems, and two early registrations for the Conference in Wageningen.
£30,000 was transferred from the Business account to a Liquidity Manager 95-day notice account with the NatWest bank in order to take advantage of the higher interest rates. £880 of interest was received in the 2024 financial year.
The balance in the Business account at the start of 2024 was £81,357.32. As of December 31st 2024 the Trust has £53,970.16 in the Business account and £30,880.12 in the Liquidity Manager 95 day notice account.
Reserves policy
The Trustees have considered the Reserves Policy and it was agreed that in view of the increased costs associated with the organisation of conferences the unrestricted funds not committed should be increased to a minimum of £30,000 and the maximum to £90,000.
Risk management
The Trustees have considered the risks to which the charity is exposed. They are satisfied that risks are minimised through the diligent work of the Trustees in the organisation of Conferences and of the Treasurer, Mr Haydn Hughes, for his work in managing and reporting the accounts. The Trustees were very saddened to hear that Mr Hughes had suddenly passed away on January 31st 2025. The Trustees are aware that many factors could lead to a decrease in funds for a particular conference and this is reflected in the Reserves policy. The Trust is registered with the Information Commissioner’s Office and makes every effort to comply with the Data Protection Act 2018.
Governing document
The Trust is a company limited by guarantee (Number 2664559) and is a registered charity (Number 1006639). The Trust is governed by its Memorandum and Articles of Association dated November 20th 1991 and revised June 7th 2005.Under these Articles , members are appointed at the AGM to serve until the next AGM and are eligible for re-election.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of it winding up. The total number of guarantees at December 31st 2024 was eight.
Trustee membership
There were no changes to the Trustee membership during the year. The list of Trustees and their affiliations are given below:
Dr P. Fernandes, Nestle Development Center, Amiens, France
Professor T. Foster, Emeritus Professor University of Nottingham, UK
Professor F. M. Goycoolea, University of Murcia, Spain
Professor G. Morris, University of Huddersfield, UK
Dr C. Rolin, (retired) Denmark
Dr G. Sworn, (Chairman) IFF, France
Professor G. Yakubov, University of Leeds, UK
Professor P. A. Williams, (Secretary) Wrexham University, UK
None of the Trustees has any beneficial interest in the Company. All the Trustees are members of the Company and guarantee to contribute £1 in the event of winding up.
Organisational structure
The Trustees who are Directors of the company, will typically meet twice per year but additional meetings can be held as necessary. Where possible decisions are taken by quorate consensus, but if necessary, majority decisions will be taken at quorate meetings.
The Trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission in December 2008.
It is the trust's objectives to advance the education of the public in all aspects of hydrocolloids and related substances. The principal activities continue to be related to the organisation of international conferences to expand awareness.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of The Food Hydrocolloids Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Food Hydrocolloids Trust for the year ended 31 December 2024, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 28 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of The Food Hydrocolloids Trust and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Food Hydrocolloids Trust and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that The Food Hydrocolloids Trust has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of The Food Hydrocolloids Trust. You consider that The Food Hydrocolloids Trust is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of The Food Hydrocolloids Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Conference and sponsorship income
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The Food Hydrocolloids Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 24 Parc Gorsedd, Gorsedd, Holywell, Flintshire, CH8 8RP, United Kingdom.
The financial statements have been prepared in accordance with the trust's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Income and sponsorship income are recognised in the period for which in the income relates.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. All financial assets classified as receivable within one year, they are not amortised but carried at face value.
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are carried at face value.
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
The charity is exempt from corporation tax on its charitable activities.
In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
There were no critical accounting estimates or judgements in the current year.
Conference and sponsorship income
Conference income
Sponsorship income
Conference and sponsorship income
Bank deposit interest
Conference Expenses
Conference Expenses
Accommodation and meals
Management services
Conference book literature
Hire of rooms and equipment
Travel
Postage, printing and stationery
Website costs
Awards
Subscriptions
Accommodation and meals
Travel
Sundry expenses
Bank charges
There were no employees for year ended 31 December 2024 (2023: none)
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Deferred income is included in the financial statements as follows:
There were no disclosable related party transactions during the year (2023 - none).