2023-03-31-accounts

Trustees’ Annual Report for the period from 1[st] April 2022 to 31[st] March 2023

Charity name: BUXTON FOR YOUTH (BfY)

Charity registration number: 1076385

Objectives and Activities

Summary of the purposes of the charity as set out in its governing document

To advance in life and to help young people by the provision of grants to support: i. recreational and leisure time activities provided in the interest of social welfare and designed to improve their conditions of life; ii. activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals [As updated and registered with the Charity Commission on 24 October 2019.]

Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.

This is the first report since the charity sold its premises and adopted its new role of providing small grants for the benefit of young people. The trustees met four times in the course of the year, all now face-to-face again. Meetings now monitor the charity’s financial strategy, consider grant application and keep the charity’s performance against its objectives under review. With respect to our grant making activity, Policies and Procedures, Notes for Applicants and Application Forms have been produced. Articles were placed in the two local media outlets and a flyer was circulated around local schools to publicise the launch of the scheme. A pleasing enhancement to our new role is that the trustees of the Ethel James Trust, whose grants significantly contributed to our original purchase of the premises, have agreed to be approached to provide supplementary funding for any worthwhile young people’s project for which Buxton for Youth alone may be unable to offer a sufficient grant. The trustees have also taken specialist advice on a pro bono basis from a supportive local financial adviser on how best to invest and protect the proceeds of the sale, the intention now being to invest £100,000 in each of two managed funds, one medium risk and one low risk. The purpose of these investments will be to build the capital of the charity over time, whilst if necessary allowing some small withdrawals.

page 1 of 5

BfY TAR 2023

Summary of main activities contd/..	The proceeds from the sale of the premises took us over the threshold for an independent examination of our accounts. This was duly completed. With our new NatWest Business Charity bank account fully operational, our old RBS bank account was closed. Our Data Protection registration with the Information Commissioner’s Office has been renewed.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Public benefit is always at the forefront of the trustees’ minds: the entire focus of the charity is on making provision for the public benefit. This is achieved through providing funds to support projects designed to benefit local young people, by listening to young people and reviewing our grant criteria as necessary.

Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:
Policy on grant making	See above; all the documentation is in the public domain.
Policy on social investment	n/a
Contribution made by volunteers	The trustees and officers of the charity are volunteers. No other use is made of volunteers.

Achievements and Performance

Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.

Our grants are designed to benefit the wider community, specifically young people. Over the past year, the charity received three applications for a grant. The charity donated £2000 towards the fund-raising efforts of three local scouts to attend the World Scout Jamboree in Korea. A second application, still pending but accepted in principle, will help with the costs of a small group of young people facing disadvantage to visit Germany. A third application, received from another charity was not deemed to meet our eligibility criteria.

Additional information (optional)

You may choose to include further statements where relevant about:	You may choose to include further statements where relevant about:
Achievements against objectives set	Few grant applications so far received. Trustees will review our eligibility criteria.
Performance of fundraising activities against objectives set	n/a
Investment performance against objectives	A little disappointing so far, but as a result of the wider financial climate.
Other	n/a

page 2 of 5

BfY TAR 2023

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	The charity now carries virtually no expenses. An initial investment of £220,000 was valued at £218,000 at the end of the financial year; just over £30,000 was held in a cash account.
Statement explaining the policy for holding reserves stating why they are held	All the charity’s funds are reserved for grants so the charity can operate as long as it has funds. The charity does not require a reserve.
Amount of reserves held	£0
Reasons for holding zero reserves	The only financial risk would be a highly improbable global financial catastrophe.
Details of fund materially in deficit	Nil
Explanation of any uncertainties about the charity continuing as a going concern	n/a

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	All being well, our investments will generate interest. Some income may derive from, mostly gift aided, donations. If / when need be, we are able to apply for funds for specific projects from other local charities.
Investment policy and objectives including any social investment policy adopted	Having taken advice from a financial adviser, the trustees have invested £220,00, in two managed funds: one medium risk (£110k) and one low risk (£110k). The purpose of these investments will be to build the capital of the charity and over time to fund our Small Grants programme.
A description of the principal risks facing the charity	The only risk facing the charity, apart from fraud or mismanagement, will be a serious fall in returns on our investments and a consequent drain on our capital.

Structure, Governance and Management

Description of charity’s trusts:	n/a
Type of governing document	CIO Constitution
How is the charity constituted?	Registered as a Charitable Incorporated Organisation wef 25 March 2021.
Trustee selection methods including details of any constitutional provisions	The trustees / directors of Buxton for Youth aim to maintain a Board with at least six members, who, between them, have experience / expertise relating to

page 3 of 5

BfY TAR 2023

the objects of the charity or to the financial and legal requirements of the project. Given the local nature of the charity, trustees use their personal knowledge, but also consult with other community members, to identify individuals who may share the objectives and values of the charity and who have a relevant professional or community background. Trustees are also happy to be approached by others who believe that they may be suited to serve as trustees.

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Individuals deemed by the Board to be suitable potential trustees are fully briefed on all aspects of the charity’s affairs and provided with all recent relevant documentation by the Chair. They are then invited to attend at least one meeting with the full Board before deciding if they wish to be formally nominated.
The charity’s organisational structure.	The charity consists solely of its Board of Trustees: Chair; Secretary and Treasurer are elected annually.
Relationship with any related parties	n/a
Other	n/a

Reference and Administrative details

Charity name	Buxton for Youth
Other names the charity uses	B4Y and BfY
Registered charity number	1076385
Charity’s principal address	34 White Knowle Road Buxton Derbyshire SK17 9NH

Names of the charity trustees who manage the charity

	Names of the charity trustees who manage the charity	Names of the charity trustees who manage the charity	Names of the charity trustees who manage the charity	Names of the charity trustees who manage the charity	Names of the charity trustees who manage the charity	Names of the charity trustees who manage the charity	Names of the charity trustees who manage the charity
			Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (if any)
		1	David Brindley	Chair
		2	Anthony Mellor	Secretary
		3	Margaret Jackson	Treasurer
		4	Anthony Huxford
		5	Elaine McDonald
		6	Christopher Smith

page 4 of 5

BfY TAR 2023

Corporate trustees–names of	the directors at the date the report was approved	the directors at the date the report was approved
Director name
n/a
Name of trustees holding title to property belonging to the charity
Trustee name	Dates acted if not for whole year
n/a

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity	n/a
Name and objects of the charity on whose behalf the assets are held and how these falls within the custodian charity’s objects	n/a
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets	n/a

Declarations

The trustees declare that they have approved the Trustees’ Report above.

Signed on behalf of the charity’s trustees.

Signature
Full name	David Brindley
Position	Chair
Date	14 September 2023

page 5 of 5

BfY TAR 2023

Charity Name No (if any) Buxton for Youth 1076385 Receipts and payments accounts CC16a For the period Period start date Period end date To from 01/04/2022 31/03/2023

Section A Receipts and payments	Section A Receipts and payments
A1 Receipts	Unrestricted funds to the nearest £ 400 13 37 449 - 449 57 35 2,000 2,092 220,000 220,000 222,092 - 221,642 - 250,200 28,558	Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Endowment funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Total funds to the nearest £ 400 13 - 37 - - - - 449 - - - 449 57 - - - - - 35 - - 2,000 2,092		Last year to the nearest £
Donations	400					166
Interest of deposit account	13					18
Rental						12,934
Gift Aid - IR	37					135
Grants						-
Sale of cleaningmaterials						-
Pool table takings						16
Sub total(Gross income for AR)	449					13,269
A2 Asset and investment sales, (see table).
Sale of Building						200,000
						-
Sub total	-					200,000
Total receipts A3 Payments
						213,269
Postage/Stationery/Advertising	57					33
Rates & Water						1,464
Insurance						117
Light & Heating						4,065
Telephone						10
Repairs & cleaning						5,552
Licences/Data	35					75
Trade Waste						590
Sale of Premises						2,076
Grant - 3 scouts to Korean Jamboree	2,000					-
**Sub total **	2,092					13,981
A4 Asset and investment purchases (see table)
, Prudential Managed Funds	220,000			220,000
				-
**Sub total **	220,000			220,000
Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end				222,092
						13,981
	- 221,642	-	-	- 221,642		199,288
	-	-	-	-		-
	250,200	-	-	250,200		50,911
	28,558	-	-	28,558		250,200

CCXX R1 accounts (SS)

14/09/2023

1

Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period
Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B3 Investment assets B4 Assets retained for the charity’s own use B2 Other monetary assets B1 Cash funds	Details Prudential Risk Managed Active Accumulation Funds Details Details Nat West Busines Account RBS Current Account - closed Petty cash account Details Total cash funds (agree balances with receipts and payments account(s)) Details Signature	Unrestricted funds Restricted funds to nearest £ to nearest £ 28,541 - - 17 - 28,558 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) 3P & 4P Accumulation - - - Fund to which asset belongs Cost (optional) - - - Fund to which liability relates Amount due (optional) - - - - - Print Name Margaret JACKSON David BRINDLEY	Endowment funds to nearest £
			-
			OK
			Endowment funds to nearest £
			-
			-
			-
			-
			-
			-
			Current value (optional)
			215,193
			-
			-
			Current value (optional)
			-
			-
			-
			When due (optional)
			Date of approval
		Margaret JACKSON	14-Sep-23
		David BRINDLEY	14-Sep-23

CCXX R2 accounts (SS)

14/09/2023

2