Trustees’ Annual Report for the period from 1[st] April 2023 to 31[st] March 2024
Charity name: BUXTON FOR YOUTH
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.] |
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| 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 was the first full year, following the sale of the Market Street premises, when the charity was able to concentrate solely on its new role of providing grants for young people. The trustees held four face-to-face meetings at three-monthly intervals in the course of the year to monitor the charity’s financial strategy, to consider grant applications (see Achievements and Performance below) and to keep the charity’s performance against its objectives under review. Close contact was maintained with the trustees of the Ethel James Trust, whose grants significantly contributed to our original purchase of the premises. They remain committed to providing 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 are particularly anxious to maximise returns on investment and savings. The performance of our investments is monitored at every meeting and reviewed at least annually with our financial adviser. We also opened a second, interest earning, 95 Day Liquidity NatWest Business Savings Account and transferred 50% of our cash savings into it, leaving the remaining cash in our Business Current Account to fund foreseeable grants. Our modest turnover now means that our accounts no longer require an independent examination. |
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| Summary of main activities contd/.. |
The trustees have monitored the rate of grant applications and rewards over the first full year of the scheme and have identified possible modifications, if needed, to increase take up. Our Data Protection registration with the Information Commissioner’s Office has been renewed. |
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| 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 | Three documents – Small Grant Making Policy and Procedures; Notes for Applicants; and an Application Form – are all available to the public. |
| 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 managed four successful applications for a grant. The charity donated £1900 to enable a young person with additional needs to take part in a group Work Experience placement in Germany; £600 towards a Scouts Winter Adventure in Switzerland; and £125 towards a Christmas party for local refugee children A grant of £1020 towards a Youth Robotics Project is pending. A highlight for the trustees was to invite the scouts who attended the Korean Jamboree in 2023 to tea in a local tea room. The scouts gave an impressive illustrated account of their experiences, fully justifying our generous grant to them. So far the trustees have maintained the agreed policy of awarding grants to groups of young people, rather than to individual young people but this is kept under review. |
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Additional information
You may choose to include further statements where relevant about:
Achievements against objectives set See comments above about keeping the appropriacy of our grant criteria under review. Investment performance against A little disappointing so far as a result of the objectives wider financial climate but starting to improve.
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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 £229,872 at the end of the financial year. £25,961 remained available in our two cash accounts. |
| 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
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. |
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| Investment policy and objectives including any social investment policy adopted |
Having taken advice from a financial adviser, the trustees have invested £220,000, 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 |
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| 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 the objects of the charity or to the financial and legal requirements of the project. |
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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: | You may choose to include further statements where relevant about: |
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| 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) |
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| 1 | David Brindley | Chair | |||||
| 2 | Anthony Mellor | Secretary | |||||
| 3 | Margaret Jackson | Treasurer | |||||
| 4 | Anthony Huxford | ||||||
| 5 | Elaine McDonald | ||||||
| 6 | Christopher Smith |
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Funds held as custodian trustees on behalf of others
| Description of the assets held in this capacity | n/a |
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| 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 ~~ee~~ ~~a~~ |
~~ee~~ |
|---|---|
| Full name ~~ee~~ ~~a~~ |
David Brindley ~~ee~~ |
| Position ~~aa~~ ~~a~~ |
Chair |
| Date ~~a~~ ~~a~~ |
12 September 2024 |
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| Charity Name | Charity Name | No (if any) | No (if any) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buxton for Youth | 1076385 | ||||||||||||
| 01/04/2023 31/03/2024 Receipts and payments accounts Period start date Period end date To For the period from ~~ee~~ ~~ee~~ ~~ee~~ |
CC16a | ||||||||||||
| Section A Receipts and payments | |||||||||||||
| Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | Last year | |||||||||
| to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | |||||||
| A1 Receipts | |||||||||||||
| Donations | - | - | - | - | - | 400 | |||||||
| Interest on Nat West 95 da | Interest on Nat West 95 dayAccount | 46 | 46 | - | - | 46 | 13 | ||||||
| Interest on United Trust Bank Account | 78 | 78 | - | - | 78 | - | |||||||
| Gift Aid - IR | - | - | - | - | - | 37 | |||||||
| - | - | - | |||||||||||
| - | - | - | |||||||||||
| - | - | - | |||||||||||
| - | - | - | |||||||||||
| Sub total(Gross income for AR) |
(Gross income for AR) |
124 | 124 | - | - | 124 | 450 | ||||||
| A2 Asset and investment sales, (see table). - - - - - - - - Sub total - - - - - Total receipts 124 - - 124 450 ~~—————~~ |
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| A3 Payments | |||||||||||||
| Postage/Stationery/Advertising | 4 | 4 | - | - | 4 | 57 | |||||||
| Licences/Data | 35 | 35 | - | - | 35 | 35 | |||||||
| Donation - Roverway | 600 | 600 | - | - | 600 | - | |||||||
| Donation - Zink | 1,900 | - | - | 1,900 | - | ||||||||
| Donation - Young people Xmas Party | 125 | 125 | - | - | 125 | - | |||||||
| Presentation afternoon | 57 | 57 | - | - | 57 | ||||||||
| Donation - Korean Jamboree | - | - | - | 2,000 | |||||||||
| - | - | - | |||||||||||
| - | |||||||||||||
| - | - | - |
| **Sub total ** | 2,721 - - 2,721 2,092 |
|
|---|---|---|
| A4 Asset and investment purchases, (see table) Prudential - - - 220,000 - - - Sub total - - - - 220,000 Total payments 2,721 - - 2,721 222,092 ~~—————~~ |
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| Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
- 2,597 - - - 2,597 - 221,642 - - - - - 28,558 - - 28,558 250,200 25,961 - - 25,961 28,558 ~~===>~~ |
- 221,642 - 250,200 28,558 |
CCXX R1 accounts (SS)
14/09/2024
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 |
|---|---|
| Unrestricted Restricted Endowment |
|
| Categories | funds funds funds Details |
| to nearest £ to nearest £ to nearest £ |
|
| B1 Cash funds | 10,948 - 15,000 - 13 - 25,961 - - Nat West Busines/95 day Account United Trust Bank Account Petty cash account Total cash funds (agree balances with receipts and payments ~~FE~~ |
| OK OK OK account(s)) |
|
| Unrestricted Restricted Endowment |
|
| funds funds funds |
|
| to nearest £ to nearest £ to nearest £ Details |
|
| B2 Other monetary assets | - - - - - - - - - - - - - - - - - - ~~=====~~ |
| B3 Investment assets | Fund to which asset belongs Cost (optional) Current value (optional) - 226,096 - - - - - - Details Prudential ~~===~~ |
| B4 Assets retained for the charity’s own use |
Fund to which asset belongs Cost (optional) Current value (optional) - - - - - - - - - - Details ~~=—===~~ |
| Fund to which Amount due When due |
|
| Signed by one or two trustees on behalf of all the trustees B5 Liabilities |
liability relates (optional) (optional) - - - - - Date of approval 12-Sep-24 12-Sep-24 Print Name David Brindley Margaret Jackson Signature Details ~~====~~ ~~oo~~ |
| CCXX R2 accounts (SS) | 2 14/09/2024 |
CCXX R2 accounts (SS)