DOCU& Enyelcye ID". 074B867A.90864E1&AE81-708671638488 Re8iStered Charity Mber. 1058559 Reglstered Company Number: 03228965 MALT CROSS TRusf COMPANY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACFJBSXN* 0?411r223 COMPANIES HOUSE
DorJJSign En¥ety ID.. D748867A.9DJfAE1&AE81.7D867163648b MALT CROSS TRUST COMPANY Contents Page Legal and admlnistraiive information Report of the Trustees Independent Auditors report 8-10 Ststement of Financial Artivities 11-12 Balance Sheet 13 Notes forming part of the financial statements 14-22
DcWSn En¥8bpe ID.. D74B867A-91)864E1&AE81.7D86716364B8 MALT CROSS TRUST COMPANY Le8al and admlnlstratl¥e Intsmatlo Trustees Mr C Berens Mr R W Wakefield Mr G Piliero Mr S Brighty (resigned 26 April 20221 Independent Audltors UHY Hackeryoung 14 Park Row Nottingham NGI 6GR Bankers HSBC UK Bank PLC East Midlands Commercial Centre Donnington Court Pegasus Business Park Derbv DE74 2BU Reglstered Office The Malt Cross Music Hall 16 St Jame5, Street Nottingham Nottinghamshi NGI 6FG Company Reglstratlon 03228965 Charity Reglstrallon 1058559
Do¢uSvJn En¥ek)p ID." D748867A-gOWE1UE81-7D8671836488 MALT CROSS TRusf COMPANY The Report of the Trustees low the year ended JI Marth 2023 The trustees present their annyal report and financial statements for the year ended 31 Marth 2023. The trustees have adopted the prowsions of the Statement of Recommended Prartice ISORPI "Accounting and Reporting by Charities" IFRS 1021 in preparing the annual repwt and financi31 statements of the charitv. Our f¢xu5 lor 2023 and beyond •Reducing crime and anti-social behaviour around the city centre throvBh our Street Pastors and 'Safe Space, projects and other initiatives •lnfluencing policy and practice in the management of the night-time economy. •Educating people about the history ot the Malt Cross, and the social impact that Music Halls had on the world of popular entertainment. •The upkeep of our beautiful Music Hall by conb"nuin8to implement our Heritage Outreach Project Il>year management and maintenance plan following the completion of è Heritage Lottery Funded Project Context Nottin8ham has over 476 licensed prernes in the city, and in a nom)al non-covid year between 30,oc and 40.000 people vi51t the city centre on Friday and Saturday nights. An establisheil night-time economy brings associated risks to.our city centre such as binge drinking. drug usage and the care of vulnerable people at ni8ht which are currently managed effectivety through partnership working. The Malt Cross Trust h35 played a key part in this partnership, which has seen the city transform its reputation. Since 2010, Nottingham has achieved Purple Flag accreditation every year. which is a mark of excellence awarded to cities offering an entertainTrn& diverse and safe night out. Through Nottingham Street Pastor5 the charity has received both local and national recognition of how partnership working between local authorities and volunteer organisations can enable local people to play an active role and make a real impart within their communities-. The charity seeks to encourage its audience with opportuntties to invest back into their community through suspended Ipay it forward) schemes that enable the Malt cr( Trust's partner charities to provide meals and practical gifts to wlnerable people in Nottingham. Structure. Governance and Mana8emÈnt Governing DOcUnt Malt Cross Trust is a charitable company limited by guarantee. incorporated and registered as a tharity 110585591. The charity was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the Association being wound up members are required to contribLrte an amount not exceeding £10. Recruitment ondAppointment of Bourd The directors of the charity are è150 tharity trustees for the purposes of charity law and under the Memorandum & Articles are known as members of the Board. Throughout the financial statements they will be referred to as board members.
EnlOPe ID. 0748867A4OWE1UE81.7D8671636488 MALT CROSS TRUST COMPANY The Report ofthe Trustees for the year ended 31 March 2023 Icontlnued) Board members are recruited thmvgh the means of adverti5ernent in appropriate local media and by personal recommendation. Prospective board members make an application and are met on an individual basi5 by the board members. Candidate5 are interviewed and measured against a sknlls requirement. If successful, they attend one or more board meetings as an observer, prior to accepting the positiLM) and being Voted in. Board members are appointed annually at the Annual General Meetin& or in other full board meetings as required. Poyment of 8ooTd Members No fees or remuneration have been paid to any member or Board member of the charity during the year for their role as board members. Board members induct ond troining Prospective board members re1Ve an inductiLNI covering their obligations, the operational framework for the charity. current financial position and future plans and objectives. New bo3id members receive the Trustees Handbwk induttiLX) pack T*thich provides helpful informatlon covering their obligations as Trustees. The Association insurance package includes professional liability cover for the trustees of the Association and senior staff. OrgonisotionolStructure Malt Cross Trusvs Artitles require è Board of no less thèn three members who during a rwmal non-¢ovi(J year meet at least bi-monthly and are responsible for the strategic direction and policy of the charity. During the financial year, the Board had four members from a variety of professional backgrounds relevant to the work of the charity and recruitment plan5 are in place to expand this number. A scheme of delegation is in place and day-to-day re5pon5ibility for the provisicx) of services rests with the Senior Management team. The Association ensures compliance with Companies House and Charity Commission directives. Public Benefit We have refeffed to the guidance on public benefit issued by the Charity Commission and are satisfied that the charity's activities as described in our review of 2018-19 do provide wider public benefit. Board members tonsider how planned activities will contribute to the aims and objectives they have set for the charity via review and approval in meetings. Principal ActhAtles Nottinghom Street Postors Nottingham Street Pastors have operated throughout the year. Volunteers offer help to vulnerable people in the City Centre in Notthngham's night time economy.
En%*ty)pe ID.. 0748867A-90B64EI8-AE81-7D8671W88 MALT CROS5 TRUST COMPANY The Report of the Tru#ees lor the year ended 31 Marth 2023 (continued) Heritoge Outreach Project The completion of the project, which saw the successful restoration of the Malt Cr055 Music Hall, has resulted in a desire for the delivery of activitie5 exploring and sharing our heritage but these were halted due to the pandemic. The focus for the actIty programmes going forward includes the recommencement of tour5 that increase in on-site heritage information available to the attending public and the development of Complementary activities to those successfully support such as the gin tastirvg events incorporatin8 a more heritage focus. Our partnership with Heritage Lottery Funding 15 an on-going relationshlp, as they will retain a charge of the 51te for 25 years follwng ihe completion of the restoration project. Future Focu5 ty5eekin8 further Investment for the Malt Cross Music Hall in an IncreasilY competsbve mark.et to support in the maintenance and upkeep of this historic buildin8. •The recruitment of additional trustees wth a more diverse range of operats.onal knowAedge to support the Malt Cross Trusys 8rowth •Securing future funding for the Nottingham Street Pèstors project with the aim of extending existing funding commitments from our major donors and seeking out new sources of incorne •Support more events happening citywide to increase awareness of the importance of stayin8 safe in the night- lime economv. •Exploring the possibility of Notbngham Street Pastors running educational projects with young people about risks laced in the night-time economv •Developing new ways to share the story of the Malt Cross music hall's heritage through activities and events •Continuing and building upon the facilitation of donab.ons to 5UPPOrt partner charities workin8 Wlth local vulnerable people The Malt Cross Trustees. staff and all those whom we have helpetl during this challenging year would like to sincerely thank all who have 5UPPQrted us both financially and in other way5. Restri¢ted iestrvts Where restrictive condition5 are placed upon any income receivable. it is accounted for within a restricted fund. in accordance with latest SORP recommendations. Policy on reserves The board members have examined the requiremeni for free reserves (referred to as General Reserves in the balance sheetl, which are those unrestricted funds not invested in fixed assets, designated for specifi purposes or otherwise committed. The board members consider that given the nature of the A550Ciation'5 work, it is appropriate to ensure positive net assets are maintained and to avoid any significant net expenditure in the year. The re5erye5 pdiry is rewewed on an annual basis. Going Concern The trustees assess whether the use of going ccern is appropriate ie whether there any material uncertainties related to events or conditions that may cast significant doubt on the ability of the irust to
Ewsion En¥ekJpe ID". D74e867AJJ08&4E18JE81-7D86716>5480 MALT CR05S TRUST COMPANY The Report of the Trustees for the year ended 31 Marth 2023 Icontinued) continue as a going concern. The trustees make this assessment each year in respect of a period of one year from the date of approval of the fina131 statements. The parent company (YMCA Robin Hood Groupl has a8reed support to ensure the company can meet it's commitments for at least 12 months from the balance sheet signing date. YMCA Robin Hood Group has al given a parent company guarantee under Section 479A of the Companies Act 2(K)6. Trustee< responsibilitie5 in rektion to the finanual ststements The charity trustees (who are also the director5 of the Malt Cr05s Trust Company for the purposes of company lawl are responsible lor preparin8 the Trustees. annual report and financial statements in accordance with applicable law and United Kingdom. AccountirE Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to Prepa financK?l statements for each financial period. which give a twe and fair view of the state of affairs of the charitable company and of the incoming resources antl application of resources. including ihe income and expenditure. of the charitable company for that period. In preparing these financial statements. the trustees are required to- •select suitable accounting policies and then apply them consistently- •ob5erve the methods and principles in the Charitie5 SORP/2015 IFRS 1021: •make judRements and estimJies that are reasonable and prudent,. •state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements- •prepare ihe financial ststements on the going concern basi5 unless it is inappropriate to presume that the charitable company will continue tn operation. The Trustees are responsible for keeping adequate accounting record5 that disdose with reasonable accuracy at any time the financial position of the charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2(. They are also responsible for safe8uarding the assets of the charstable company and hence for takin8 asonable steps for the prevention aThl detection of fraud and other irregularities. In so far as the trustees are aware.. •there is no relevant information of vthich the charitable compan5 examiner is unaware,. and •the trustees have tsken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the charitable compan5 independent examiner is aware of that information. The financial statements were approved by the Board of Trustees and We signed on its behalf by.. C Berens (Trusteel DATE: 11-10-23
EwSn En¥j D74BPfj7KW4E1&AE81.7086716we Hackeryoung Charterd Ac£ountants INDEPENDENT AuDIT0s REPORT TO THE TRUSTEES Oplnlon We have audited the financial statements of Malt Cross Trust Company for the year ended 31" March 2023 which comprise the Statement of Financial Activrf(ies, the Bèlance Sheet and notes to the financial statement, including significant accountin8 policies. 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 applicable in the UK and Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice)- In our opinion the financial statements: give a true and fair view of the state of the charTtable compan5 affairs as at 31" March 2023. and of its incoming resources and applicalion of resources. including income and expenditure, for the year then en(Jed- have been properly prePad in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our sponsibilr(ies under those standard5 are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethKal 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 requirement5. We believe that the audtt evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to Koing Concern In auditing the financial statements, we have concluded that the trustees. use of the going concern basis ot accounting in the preparation of the financial statement is appropriate. Based on the work we have performed. we have not identrfied any material untertainties relating to events or conditions that. individually or collectively, may cast signrficant doubt on the charitable companWs ability to tontinue as a going concern for a period of at least twelve monihs from when the financial statements are auth0ri5ed for issue. Our responsibilities and the respon5ibilitie5 of the tn15tees with respect to goin8 concern are described in the relevant sections ol this report. Other information The other information comprises the InforMatn included in the annual report other than the financial statements and our auditorfs report thereon. The trustees are sponsIble forthe other infomiat40n conlained within the tinancial statement5. Our opinion on the financial statements does not cover the other inforMatn and. except to the extent otherwi4e explicitly stated in our report, we do not express èny fomi ol assurance conclusion thereon. Our responsibility is to read the other information and. in doing so. consider whether the other informètion Is materlally inconsistent wlth the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material incortsistencies or apparent material mi5statement5. we are required to determine whether there is a material mi4st*ement in the financial statements or a rnaterial misstatement of the other information. If. based on the work we have perfomied. we conclude that there is a material misstatement of this other information, we are required to report that fart. We have nothing to report in this regard.
()owS*n En¥dcye ID.. D748867ULWE1&AE81.7D8671636488 Opinions on other matters presulbed by the Companie5 Act 21X)6 In our opinion, based on the work undertaken in the course of our audit: the information gwen in the Irustees, 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 wlth applicable legal requirement5. Matters on which we are required to report by exception In the light of the knowledge and understanding of the tharitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees. report. We have nothing to report in respect of the following matter5 where the Companies Act 2006 requires us to report to you rf. in our opinion.. adequate accounting records h3ve not been kepl. or retums èdequate for our audit have not been received from branches nol vislted by us: or the financial statement5 are not in agreement with the accounting records and retum5.' or certain disclosures of trustees. remunerntion specified by law are not made- or we have not received all the information and eipl8nations we require for our audit- or the trustees were not entitled to prepare the financial statements in accordance with the small companies. regime and take advantage of the small companies. exemption in preparing the trustees. report and from the requirement to prepare a strategic report. Rtsponsibilities of trustees As explained more fully in the tnjstees, responsibilittes statement set ovt on page 16, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the trustees detem)ine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In Preparing the financial statements, the trustees are responsible for assessing the charitable companvs ability to continue a5 a going concern, disclosrng, as applicable, matters related to going concern and using the going concern basi5 of accounling unless the trustees eiiher intend to liquidate the charitable company orto cease operations, or have no realistic alternative but to do so. Auditor's responsitrmlities for the audit olthe financial statements Our objectives are to obtain aSOnable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an avdit conducted in accordance wrth ISAS IUKI will always detect a material misstatement when it exisis. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonabty be experted to inflvence the economic decisions of users taken on the basis of these flnancial statemenis. Irregularities. including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detert material misstatement5 in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularrties. including fraud 15 detailed below- Based on our understanding of the charitable company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the charitable company, whith were contrary to applicable laws and regulations including fraud, and we conside the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such a5 the Companies Act 21x16. We evaluated management's incentives and opportunities for fraudulenl manipulation of the financial statements lincluding the risk of override of controls). and determined that the principal risks were related to inflated revenue and the charitable companrfs net income for the year and potentially undisclosed related parties.
Dv¢yJSlgn EnveloFe10.. 074B867>SNEIAE8l.7DaG7IG8 Audit procedures performed included= Review of the financial statement disclosu$ to vriderlying supporting documentation Enquiries of management and testing of journals and evaluating whether there was evidence of bias by the Dirertors that represented a risk of material misstatement due to fraud Enquiry of management regarding any instances of actual or potential fraud during the year. Assessment of fraud prevention and detection procedures within the companv. Enquiry of management regarding actual and potential litigation and claNns. or any potential breaches of laws and regulations. Substantive testing of revenue transartions and assessment of controls implemented by the company. Enquiry of management concerning any new or wentially undisdosed related parties based on reviews of accounting records. Therè are inherent limitations in the audtt procedures described above and the further removed non-compliartce with laws and regulations is from the events and transactions reflected in the financral statements, the less likely we would become aware of it. Also, the risk of not detecting a material misststement due to fraud is higher than the risk of not detecting one resultin8 from error. as fraud may invofve deliberate concealment by, for example, forgery or intentbonal misrepresentations, or through collusion. Use of our report This report is made solely to the charitable companws membe, as a trx)dy, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the compan¢s members those matters we are required to state to them in an au(Jitor's pOrt and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's rnembers as a body. for our audit work, for this report. or for the opinions we have formed. Rogef Merchant Bsc FCA (Senior Statutory Auditor) for and on behalf of UHY Hacker Youn& Ststutory Audltor 14 Park Row Nottingham NGI 6GR 23-10-23 Date: _.............-....-.. UHY Hacker Youn8 is eligible to act as an auditor in temis of seCtn 1212 of the Companies Act 2006. Page 10
CX)¢AJSw Envebpe ID. 074Be67A-9D864E1UE81-7086716M8 MALT CROSSTRUSTCOMPANY STATEMENT OF FINANCIAL AcllviTIES for the year ended 31 Marth 2023 UnreStrIrt Restrlcted Total Funds Totsl Funds Notes Funds Funds zozy 2022 Income Income from grant5 and donations Income from charitable activities- rent Investment income 3,491 75.963 25,550 29,041 75.963 92,373 62,609 Total Income 79,454 25,550 iOS,CKM 154,982 Expendlture Costs of raisin8 funds Expenditure on charitable activities 1196.2901 125.1181 1221,4081 1202,7221 Totsl Expend61ure 1196.2901 125,1181 1221,4081 1202.7221 Net IncornellExpeb)dlturel 1116.8361 432 1116.4041 147.7401 T01 tund5 brought fonward 952.789 40,689 993,478 1.041.218 Net movefflent in furKIs 1116,8361 432 1116,4041 147,7401 Total fd5 carried forward 835.953 41.121 877.074 993.478 Income and eenditUre relate to both restricted and unrestricted activities derived from continuing attivitie5. P8ge11
Docusw En¥dope 10.. D74B867N90WEle-AE81.7D86716 MALT CROSS TRUST COMPANY STATEMENT OF FINANCIAL AcnvinES for the year ended 31 Marth 2022 Unrestrlrted Restrlcted Total Funds Total Funds Fd5 Furtds 2022 2021 Income Income from donations and gifts Income from chafitable activities- rent Investrnent incorne 63.492 60.209 28,881 2.4CO 92,373 62.609 129,963 50,807 21 Total Income 123.701 31,281 154.982 180,791 Expefidltute Costs of raising funds Expenditure on Charitable Activities 12201 1169,2341 1166,3261 136,3961 1202,7221 Totsl Expendlture 1166,3261 136.3961 1202,722) {169,4541 Net In¢ome/lExpendilurel 142,6251 15.1151 147.7401 11,337 Total funds brought forward 995.414 45,804 1,041,218 1,029.881 Net movement in fund5 142.6251 15.1151 147,7401 11,337 Total funds carried lOard 952.789 40.689 993.478 1.041.218 Income and expendtrure relate to both restricted ènd unrestricted activities derived from contrnuing activitie5. P•Je 12
DcAJ&"w EnlOpe ID.. D748867A-9CIUE18-AE81-7016716W8B MALT CROSS TRUST COMPANY Company Number: 03228965 BALANCE SHEET AS AT 31 Marth 2023 2023 2022 FIXED ASSETS Tangible assets 1.383.356 1,431,645 CURRENT ASSETS Debtors Cash at bank and in hand 229.459 32,476 146,614 29.375 261,935 175,989 CURRENT LIABILinES Amounts fallin8 due within one year 1448.2171 1306.8431 1448,2171 1306,8431 NET CURRENT LIABILtTIES 1186.2821 1130.8541 NON-CURRENT LIABILITIES Amounts falling due after me than one year I320.0} 1307.3131 I320,0)) 1307,3131 NEf ASSETS 877.074 993,478 FUNDS Unrestricted revenue accumulated funds Restricted Tevenue accumulated funds 835,953 41,121 952,789 40.689 TOTAL FUNDS li 877,074 993,478 These accounts have been prepared in accLYdan¢e with the provisions applicable to companie5 subjeci to small companies, regime. The financial statements were approved and authorised for issue by the Board of Trustees and signed on their behalf by: C Berens Group CEO Date.. 11-10-23 P4¢ 13
C¥J¢u&g7 Envdop? ID". D74B167AD8G4E1AE81-7oa6718m8 MALT CROSS TRUST COMPANY NOTES FORMING PART OF ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POUCIES Basis of preparation Malt Cross Trust Company is a limited company by guarantee, regISted in England. The address of the registered office 15 given in the charity information on page l of these financial statements. The charity constitutes a public entity as defined by FRS 102. The financial statements have been prepared in accordance wtth Accountin8 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 IFRS 1021 issued Ortober 2019 Isecond edition). the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Companies Act 2(X)6 and UK General Accepted Prattice as it applies from l January 2015. The finantial ststements are presented in steding which is the functiortal currency of the charity and roLtnded to the nearest £. The financial statements are prepared under the historical cost convention Goin8 Qjncern The trustees assess whether the use of going concern is appropriate ie whether there any material uncertaintres related to events or condition5 that may Cast significant doubt on the ability of the trust to continue as a going concern. The members of the council make this assessment eath year in respert of a period of one year from the date of approval of the financial statements. The parent company (YMCA Robin Hood Group) has agreed support to ensure the rnpanY can meet it'5 commitments for at least 12 months from ihe balance sheet signing date. Incomlng resources All incoming re50urce5 are induded in the Statement of Financial Artivities when receipt is probable or more likely than not to be received, and the amount can be quantified with reasonable atcurary. For donations to be reco8ni5ed the charity will have been notrfied of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the tharity and it is probable that they will be fulfilled. No amount 15 included in the finarbcial statements for volunteer time in line with the SORP. Further detail is given in the Trustees, Annual Report. Income from trading activities includes income eameil from fundraising events and trading artivities to raise funds for the charity. Income is received in exchange for supplying good5 and services in order to raise funds and is recognised when entitlement has occurred.
Docusyn Envebpe ID.. D746867A-9DWE18-AE81-7DJ671636488 MALT CROSS TRUST COMPANY NOTES FORMING PART OF THE FINANCIAL STATEMENTS l¢ontinued) ACCOUNTING POLICIES (continued Incoming resources {continued) The charity receives government and other gra1. Income from govemment and other grants are recognised at fair value when the charity has entitlement after any perfom)ance conditions have been met, it is probably that the income will be received and the amrAJnt can be measured reliably. If the entitlement is not met then these arrtounts are deferred. Resources expended All expenditure is atcounted for on an accruals basis. and has been tlassified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings. they have been allocated to activities on a basis consistent with use of the resources. Funds Unrestrirted funds are incoming sourceS receivable or generated for the object5 of the charity without further specified purpose and are available a5 general funds. Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this crlteria is charged to the fund, together wtth a fair allocation of management and support costs. Flxed assets and depre¢iatknn Tangible fixed assets are stated at C05t less depreciation. Depreciation has been provided at the followin8 rates in order to write off the att$ Ile their estimated residual valuel over their useful economic lives.. Freehold property Long leasehold Fixtures and fittings Computer equipment 2% straight line 2% straight line 10- 20% straight line 33% straight line Grants receivable Grants are included in the Statement of Finanoal Activities when the conditions for receiving the grant have been met. Where performance criteria is not yet met. grant income is deferred until such time as criteria is achieved. Finance and Operati lease5 Renta15 paid under operating lea5e5 are charged to income on a strai8ht line basis mier the lease term. Page15
Do¢uSwJn En¥ebpe ID". D74BeS7AD864EI6-AEI1-77l&J64OO MALT CROSS TRUST COMPANY NOTES FORMING PART OF THE FINANCIAL STATEMENTS Ic4Jntinuedl Nrr INCOMEIEXPENDITURE Net incomelexpenditure is ststed èfter thar8in8.' 2023 2022 Depreciation Auditors remuneration 59,175 5.270 57,4 5.366 The fee above h35 been paid by the Pant entity, YMCA Robin Hood Group. INCOME FROM GRANTS AND DONAnoNS Grants and donations received in the year were as follow5- RESTRICTED FUNDS 2023 2022 Street Pa5tOfs (City} Awards for all 13,1(Kl s.000 2,000 3,000 1,000 Thomas Farr Charity Albert Hunt Grant JN Derbyshire Trust Jessie Spencer Trust Nottinghamshire Police Oasis Christian Centre 17,788 1,2 235 200 Comrnunity of The Holy Cross St Luke's Parochial Chruch Council 1,000 250 1,6LK) 8.058 Individuals and other 25,550 28,881 UNRESTRICTED FUNDS 20Z3 ZOZ2 General JN Derbyshire TrLgSt Coronavirus Job Retention Support Scherne COVID-19 Business Support Grant Heritage Lottery Fund Grant Individuals and other 4,000 2,131 24,300 9,964 23,097 3,491 3,491 63,492 P4e 16
Dcusign En¥ebpe ID". D74B867AJJOWE1&AE81_7W71636468 MALT CROSS TRUST COMPANY NOTES FORMING PART OF THE FINANCIAL STATEMENTS (continued) STAFF COSTS 2023 2022 Staff employed by the tharlty Salaries and wages Employer's National Insurance Pension costs 17,C61 1,354 334 35,704 1,643 669 18,749 38.016 Avern8e employee numbers- fyll-time or lulktime ewi¥alents Management Administration No employee received ernoluments of more than £60,COJ No trustees received remuneration or expense payments during the year TAXATION Taxation is not provided on the grounds that Part 11 of the Corporation Tax Act 2010 applies (tax exemption for charitable companiesl. TANGIBLE FIXED ASSETS Freehold Long Fixtures and Computer property leasehold frttin8s Equipment Total Cost As at l April 2022 Additions 1.434.485 131.052 256.185 8.463 1,830.185 10,886 10,886 As at 31 March 2023 1,434,485 131,052 256,18S 19,349 1.841,071 Accumulated depredatlon As at l April 2022 Charge for the year 196.374 29,724 21,647 2.621 172.529 25,538 7,990 1.292 398,540 59.175 As at 31 March 2023 226,098 24,268 198,067 9,282 457.715 NBV at 31 March 2023 1.208.387 106.784 58.1 10.067 1.383,356 NBV at 31 March 2022 1.238.111 109.405 83.656 473 1.431.645 Page 17
Docu&97 Env*Jp8 ID.. D748e67A.90IfAEI8-AE81-7D86716364a8 MALT CROSS TRUST COMPANY NOTES FORMING PART OF THE F114ANCIAL STATEMENTS l¢Mlinyedl TANGIBLE FIXED ASSEf5 Icontinuedl Cost or valuation at 31 March 2023 is represented by: Freehold Long Fixwres and Cmiputer operty leasehold Equipment Total Cost Valuation in 2CQS Valuation adjustment in 2010 Valuation adjustment in 2013 2.857.824 1968.1101 1259,980) 1195.249 135.782 256,185 19.349 3,269,140 1968.1101 1209,9591 1250.Crf)01 50.021 154,7511 1.434.485 131,052 256,185 19.349 1.841.071 DEBTORS 2023 2022 Trade debrors Prepayments Social security and other tax debtors Related party debtors Other debtor5 128 828 4.160 159 131,870 9,597 15.555 203,930 9,846 229.459 146,614 CREDITORS: AMovNfs FALUNG DUE WITHIN ONE YEAR 2023 2022 Trade creditors Accruals Amounts owed to group undertakings Deferred incorne Social security and other taxes Other creditors 4,923 4,950 418.353 14,991 733 13,29S 286,286 245 6,284 448,217 306,843 Paoe 18
OoGuSign Enve*)pe ID.. D74e867A4)8PAE1&AE81.7D8671836488 MALT CROSS TRUST COMPANY NOTES FORMING PART OF THE FINANCIAL STATEMENTS Icontlnuedl CREDITORS: AMOUNTS FAWNG DUE AFfER MORE THAN ONE YEAR 2023 2022 Amounts owed to group undertakirh8S 320,CW]O 307.313 Amounts due between one and two years Amounts due between two and five years Amounts due after five years 12,994 40,905 266,101 12,994 40.905 253,414 320,C#J) 307,313 Included within amounts owed tOBroup undertakings is a loan from YMCA Robin Hood Group. At the balance sheet (Jate there have been no repayments of the loan from the group company. This loan is secured on 14 and 16 St James. Street. YMCA Robin Hood Group has opted not to charge interest during the current financial year. YMCA Robin Hood Group has agreed not to request repayment of any balance due on this loan or other amounts due within short term creditors for at least 12 months from the accounts signing date. 10. CONTINGENT UABIUTY A number of funders make grant payments dependent on detailed submissions by Malt Cfoss Trust Company. They reserve the right to audit these submissions retfospectively and insist that information is recorded in particular formats. Malt Cross Trust Company make every effort to comply with funders, requirements an(J to mJintain the specified records there is a risk that. at audit, me amount of grant may be disallowed. Malt Cross Trust Company is not aware of any significant risk in this respect. P•Je 19
MALTCROSSTRuSTCOMPly NOIESFORMING PARTOFThE FINJIKIALSTATwep4TSlr(th 11. AALsoFFU1IDs Genwalieserbt Fixedassets 1161.3261 1.456.7X 2?. 1476.38ai 127J6BI LI.)72 79.454 1]¥ Is16 I547.31 145.8161 La83.356 995.414 3.701 1166.3261 gS2.n9 P).4y 119529UI 835.953 Stye¢tpws1Crtyl 4S.801 136.3961 253SD I25.1> 31281 1¥.3961 2555 125.1} i.ui IZZVOBI Fe4 Sets resetye is a deSwIedfv wreyesent fwd5ed Inredets4r s0werKéavallab forthadtsble donation5. Tran5fEr5arE rnadelomi this r¢StttoaccwnEfuthE rnoIWiiertin¥tsL¥>yudtheurAthlra5fet RESTRICTED RESEAVES Slrwt Pa5tL¥5lCRyl The N0tthaM stre Pallot5haScontLdtOoo1Èththeln NOtti5thrhinKtimeeOnotY. Thepraiert 5UPPOrt$vulierae pec inthECitycentre. FvndifgJprwtsthem¥a8efflthit tranirv40firte3rn ofvdwteers.aSwell as sate spa$ aLr055thecKty. 5UPPQrtingyoungpEeaadStrtel.The Voi¢s5UVorttd b¥an•15rn¥I dwation5birt PTedomirwntWbv two donationsfrDmthE Nottingh3m5hireCrmE (unm01ea5Ia5 NDttirn Bne$SPrvLt Dwri¢tlBIDI.
DwS¥n Enwewe ID.. D74B867A.9D8&4E18JE81-7D8671636188 MALT CROSS TRUST COMPANY NOTES FORMING PART OF THE FINANCIAL sfATEMENTS l¢onlio)uedl 12. ANALYSIS OF FUND BALANCE BETWEEN NET ASSETS Restrlrted Unre5trirted fvnds fvnds Property Total 2023 Fixed assets Debtors Cash 1,383.356 1.383,356 229.459 32,476 1448.2171 1320,¢J)01 229.459 18,6451 1448.2171 1320,C(JOI 41.121 CdItorS < l year Creditors > l year 41.121 1547,4031 1.383.356 877.074 2022 Fixed assets Debtors Cash Creditors < l year Creditors > l year 84,129 146,614 111.3141 1306,8431 1307.3131 1.347.516 1.431.645 146,614 29.375 1306.8431 1307,3131 40,689 1394,7271 1,347,516 993,478 13. RELATED PARTY TRANSACllONS YMCA Robln Hood Group YMCA Robin Hood Group exercises control over ma Cr05s Trust Company due to cornmon management. During the year there were recharges from YMCA Rrtiin Hood Group of £54,75312022- £56,5481. During the year. YMCA Robin Hood Group also proded ma Cross Trust Company with related party funds of £90.OCKJ12022 - £46.51. At the year end. there was an amount owed of £738.35312022 - £S93.5991 to YMCA Robin Hood Group by the Trust. Included within this balance is a loan from YMCA Robin Hood Group amounting to £320,00012022- £320,(KJOl which has seen £nil repayments durinB the year12022- £nill. Mafty Cross Itd During the year. Malt Cr05s Trust Company charged rent and Service charges of £75.63012022- £59,500) to Malty Cross Ltd, a subsidiary of YMCA Rc&in Hood Group, for the occupation and use of the Malt Cross Music Hall. Malty Cr05s Ltd recharged e¥pense5 paid on behalf of Malt Cross Trust Company of £4,11812022- £nill. At the year end the Trust was owed £203,93012022- £131,869) from Malty Cross Ltd. P4g¢ 21
D¢xuSvJn En¥eknre ID.. D7I8867A-sD8El&AE81-7DS67I636488 MALT CROSS TRU5f COMPANY NOTES FORMING PART OF THE FINANCIAL STATEMENTS Icontlnuedl 14. TRUSTEE5 REMUNERATION AND BENEFITS There were no trustees, remuneration or other beneffts for the year ended 31 March 2023. nor for the vear ended 31 March 2022. There were no trustees, expenses paid for the year ended 31 March 2023, nor for the year ende(J 31 March 2022. 15. MEMBERS The Charity is irtcorporated as a company limrÉed by guarantee hèvinE no share capital and, in accordance with the Memorandum of A55(Klation. every member is liable to contribute a sum of not more than £1 in the event of the AssfKiation being wound up. At 31 March 2023 there were 312022: 41 members. Page 22