REGISTERED CHARITY NUMBER: 1076803 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 FOR THE YAPP CHARITABLE TRUST RMT Ribchesters Accoiintants <ind Business Advisors Finchale House Belmont Business Park Durham DEII ITW
THE YAPP CHARITABLE TRUST CONTF.NTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Page Report of the Trustees Independent Examiner's Report 10 Statement of Financial Activities Balance Sheet 12 Notes to the Flnancial Statements 13 10 22
THE Y APP CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Irllstees present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the F inancial Rcporting Standard applicabl¢ in the UK and Republic vf Ireland (FRS 102) (clycctive l January 2019). OBJF.CTIVES AND ACTIVITIES Objectives and aims 'I'he objects of The Yapp Charitable Tru.%l combine the objects of the two original'frusts.. To promote or assist (Y charitable activity directed to: o The care or houstng of elderly peoplc o Thc welfarc ofchildrcn and youn& people, including youth clubs, hostcls and similar instittitions o I'he Lare or special education of people who havc learning difficultie5, or are physically disablcd or suffcr froin mental health problems o The advancement of moral welfare o The advancement of education and leaming, and of scientific and medical research. Grants are made using the income generated from investrnenls held by the trustees and are 01)ly made to organisations registered with and rc&Fulaled by the Charity Commissioii for England & Wales. Whilst some of the charities may undertake activities outside of England oi. Walcs, the Trust only funds work that is delivered in one or both ¢ounlries. The .1 rust does not fund oversea8 activity. Where the &Frant is madc to a regislercd charily (he trLislccs are confident Ihal the girant has been madc to further a charitable purposc to the public benefit. In all ¢ascs the trustees always seek feedback on the actual iise of the grants given and the a¢hievemenls madc so that they know how the funds were used in practice. Public bcncfit The Trust carrics out its charitable piirposes for the public benefit by making grai)Is lo other charities undertaking work within onc or morc categories (F.Iderly, Youth, Disability, Social Welfare und Education) that reflect the 'l"rust's objects. 'I'he Irustees confirm thal Ihcy have complied with the requirements of .scclion 4 ot. Ilie Chai'itics Act 2011 lo hiive due reL)ard to the public benefit guidanLe published by the Charity Coinniission for b.ngland aiid Wales. Page I
THE YAPP CHARITABLE TRusr REPORT OF THE TRUSTEES FOR THE YEAR ENDF,D 30 SEPTEMBER 2024 OBJECTIVES AND ACTIVITIES Crant rnaking policies Applications are accepted from registered charities working in England and Wales. Within the broad rang¢ of the Trust's objects the trustees give priority to the smallest Charities (with a projected eKpcnditure of less than £40.000 per year). In recognition (hat many sources of funding are open only to ncwly established projects, the trustees concentrate on helpingy to sustain existin&F work rather than funding new work. To be eligible lor consideration, ¢harilies must have bccn formalKy establishcd tor a minimum of three year5. Priority is given to: o Charities that are delivering services in areas of high deprivation o Work tliat is unaltraclive to the general public or unpopular with other funders o Services that help lo improve the lives of marginaliscd, disadvantaged or isolated people o Applicants that can demonslratc an effective use of volunteers o Applicanls that can demonstrate (where feasible) an element of self-sustainability by charging subscriptionslfecs to service users Granls arc offered lo support running Losts and salaries for up to Ihrcc years. Grants are not available to assist witl) capital expenditure. Ongoing gyr<tnls (typically for 3 years) fonn the m<ijorily of the budg¢l, d¢monbtrating th¢ ttwtees, commitment to siistaining work that has proved ils value. Details of how lo apply for giranls, logcihcr witli dclailed guidelines and application fonns, arc availablc on the Trust's web.silc {www.yappcharitabletrusi.org.uk). The Trust is also listed in the major directories and databases of granl-makers. All potential applicants are encouragyed to telephone to discuss thcir application if ii)cy wish. Thcre is a welcome Ircnd for potential applicants to acccpt the offer of a pirliminaiy discussion, which can save much time aiid di5appoinlment for charities that <ire iinlikely to be funded. Exploratory disciissions also Irequcnlly i'csull iii an application for ongoing core fundin&y rather Ilian the one-off project fiinding request ihat had iiitroduced the di5cussioii. Thc Trust Secretary and 'I"ruslees undertake assessment visits to appliLanl orgyanisations (and moniloring visits to L)ranl holders). SuLh visits enable represenlativcs of the Trusl lo &yain a greater iinderslandin&y ol Ilic issucs I'hal th¢ charilics applyingy for funding are aiming to address. Monitoring visits give an insight into how the gyrants awarded by the Trust are applied to benefit those in need. The grant m¢iking poliLy is reviewed at biennial str<ltegi¢ meetingys to ensur¢ Ihat it continues lo reflect Ihe Charity's objects aiid advance public bencfit. The lalcsl slral¢g)ic rcview meeting took plaLe in November 2023. Page 2
THE YAPP CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEYfEMBER 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities During the year 204 (2023.. 190) completed application fonns were received, of which 155 (2023-. 122) were accepted as eligible within the Trust's criteria and were assessed further by th¢ Trust Secretary l Administrator. Trustees r¢co&nise that if thc Trust is over publici5ed then it runs the risk of beingTr inundated with grant applic¢ilions requesting funding from a Iirnited budget. An average of 26 % (2023= 32 /0) of eligible applications received durin&7 the year were fund¢d and the Iruslees arc kccn to maintain a reasonable success rate for applicants. As Such, the Administrator will continue to promote the trust via social rnedia posts and direct enbFagement with relevant VCS infrastructure agencie5 to conservc a reasonable balance between the number of eligible applications received and the amount of ndIng available to distributc in grants. 38 (2023: 39) grants wcre awarded, totaling £216,500 (2023.. £207,250). Grants were made witliin all priority categories. 'l-he largest pi'oportion of funding was awarded in the London region (210/0) with byrants totaling £45,000. Most grants (37 % ) were m8de lo support work under the Social Welfare category {14 charities received funding tolaling £82,500). Grants are listed in the notes lo the accounts and are <inalysed wiihin the various categiories of the 'l'rust's objects. Examples of recent grants are published on the Trust's website biit ndIng awarded this year include.. A £7,500 Disability grant over 3 years towards the costs of providing activity days for children and youn8 p¢opl¢ with complex needs in East Midlands. A £6,000 Education grant over 3 years towards the running ¢osts of a charity in Dorset that helps children struggling to read lo improve their literacy skills. A £6.000 F.Iderly gprant over 3 years Iow<irds providing frcc transport for older people from the Jewish community across l..ondon for whom public or hospilal transport is iiiaccessible or unaffordable A £4.500 Social Welfare grant ovei. 3 years tuwards the running costs of a Charity delivering mental health recovery courses and support prog7rammes for sex trade survivors aci'oss Eiigland and Wales. A £9,000 Youth grant over 3 years towards providing affoi'dablc structured drama activities for young people in an ai'ca of North l)owys where other youih provision is siLynificanlly lacking. Thc Iruslees invite applications for gFrant8 for up to three years. 36 Ol'the 38 grants awarded were for morc than onc year, represcnling 94.70/0 (2023: 89.50/0) of the total number of gr(Ints awardcd. As a graiit-maker the Trust has no direct relationship with the beneficiarie.8 of the charilies who iise the I'rust's money, The trustees r¢ly on the work of Ihe staff and voliinteers of those charilics. ficedback on applicanls, ¢xp¢i'ien¢e of tlie grunl-making process and their re11( tionship with thc Trust during the life of the grant has provided helpful suggestions for improvcmenls, which have b¢en implenientcd. The 'l'nist financially supported CAST in its developmcnt of GrantsAdvisor UK (a websitc that allows grant seekers and recipients to share their first-hand expcricnccs of working with fiinders). feedback is Collected anoi)ymously and funders can respond lo fecdback/comments. Tlic portal was officially launclicd in May 2023 and Yapp has since received a high numbcr of reviews (all positive) in comparison to other trusi5 and foundalions registered witli the site. The l-rust Secretary actively promotes the site to obiain a broad range of revicws Iroin grant seekers al all stagcs of Iheir application with us (including unsuccessfiil applicants) and a link 15 included in gjanl offer letters lo siicLesslul applicants. Feedbacklreviews durinfj the year freqiiently expressed appreciation of the simple application and monitoring process. Foi. example.. "Our application for a grant ivas deali with quickly and Nve rcccivcd thc otTer within 2 months of our request. They are very easy to deal with. '[ found ihc online fonn very straightforward to Complete. Whether the application is successful or not I personally found the whole experience really gJood. Emails were quickly replied to without delay. I particularly liked the option of a grant spr¢ad across 3 ycai's." 'The application is straightforward and Communication with thc Trust is prompt, friendly and hclpful. The great thing about the funding is that it can support core costs, which is iinusual in our experience." Page 3
THE YAPP CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEvfEMBER 2024 "Easy to understand application process and a very responsive team that answers quesliuns quickly and supports poteTJtial grantees as mu¢h ¢iS possible. Please keep doing what you are doing- it is essential for local organisation5 like ouis!!" During the life of multi-year grants, subsequent fecdback is sougtst from the grant holdcr on th¢ progress of its work in the fomi of a detailed report. A stcind4ird prugre55 report template is used to achieve soine consistenLy on the level (and type) of infomiation grant holders provide. Th¢ progress rcport form is sent lo grant holders in the month before thcir next grant instalment is due. Occasionally, recipients are also visited by trustees or the administrator. Further payment is only rclcascd if thc progress report or monitoring visit is satisfactory. £6.200 (2023: £5,000) of grant payment5 were cancelled during the year due to non-compliance or charity closures. Infom]alion obtained from visits and progress reports is recorded to provide a longer-tem] picture of grant-holders, perfonnance and experiences. It is also a valuablc sourLe of infonnation for trustees about tl)c many social problems being addressed by grant-holders and the effectiveness of the solutions they offer. For example.. "With your support, wc have continued to provide our core l.. I mentoring services for our beneficiaries. In 2023, we trialled group mentoring specifically aimed at women who are new to Ihc country andlor with limited English. The trial was very positive and we are now able to offer this service to our wider menlee base. In addition 10 mentoring, we ran oiir 'Discover-Me' programme between June-Dcc for 10 beneficiaries. Aimed al improving women's confidence, conimuniLalion skills and reducing social isolation, the progr(Imm¢ was higlily su¢c¢ssful, 'We have Lontinued lo provide a friendly, welcoming environment for those over 60 every r.riday, whcrc Ihcy can enjoy a home cooked, 2 course lunch, entertainment, subsidised transport, access lo hcalth services and advice as well as companionship and fun. In July we were able to lake the members out on an excursion lo Dungene55 for a fish and chip lunch. We rcgularly lake part in chair based exerLises and pranayaina brcaihing techniqiies we have all had fall prevention and first aid adviLe from the loLdl cutnmunity respondcr., 'Over the last year we have reLeived subslanlially inLred5ed numbers of people nccding support and the gyrant received from you la8t year has ciiabled us to mecl Ihcse demands, incliiding food, rneals and provision of pods for temporary dCLommodation. 'Over the last 12 months we have supported more youiig people than in any other year since our foundation in 2018. 50 young pcoplc directly benefiled from ihe funding la.sl year. We have delivered weekly wellbeing workshops, wcckly fitness club scssions and ovcr So hours of frec Ihci'apy. We have also led on a 10-week wellbeing Loiirse supporting young pcople in an arca of identified need, rlin a 4-week coursc on mental health for young care Icavers lo help gyive them the skills io acccss and su81ain employment oppoiliinities and developed an 'iDlrodu¢tion to menial healih and wellbeing, session to young people on the Job Ceiilre's Work Skills pi'ojccl. 'We have moved into our own venue and started to expand our offer of creative activities for deaf, dis(Ibled, neui-odiverse people. We are now ninning a skills development programme where young people have cxplored things such as creative writing, singing aiid ballrooni dancing. We are also now offering day provisioii for disabled adulis, usinv creative activities to promote iiidependence focusinLi on communicalion, self-awarene5s and work and recreation. Bcing able lo increase services responding to families and their needs has bcen wonderful. Final feedback is sought from all graiit liolders at the end of the final year of Ihcir grant. The feedback covers usc of the raiil, its effect on the charity, their beneficiaries and any problems encounlei'ed. The End of Grant reports help the trustees and Administrator to measure the impact of Yapp fundinL. Examples of how the tNst's grants made a difference this year include: "The deinand for our exlracurriciilar activities have been exceptionally expanded by increasing the number or beneficiaries by 42 % and as a result, we have expanded additional activity, which is the provision of fresh & hol foods for childi'en who are eligible for FSM, as the free school meal is not available from home during Lhe school holidays. 'We continued our core work, Ivhich is the help and care provided to those suffering from mental health difficulties. Our garden is at the heart of our care - Icaching clients the benefits of good diet and taking that through to planning, planting and eventually enjoying the things we grow. -I'he demand for our serviccs is Constant, hoivever sincc we help those wilh serious mental coiiditions we are limited in the nlimber we can support. With t¥vo years, significant salary increases and increased competition for funds, funding the operation has beeii a challenge this year. We coiitinue to work lo ensure sustainability. Page 4
THE Y APP CHARIT ABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024 "We have provided free and confidential professional counselling to young people aged 11-25 years old, who experienced emotional, social and behavioural concerns and those who suffer from social exclusion. The issues young pcoplc brought to counsellin&F were many and varied including low self-esteem, lack of confidence, bullying, anxiety, peer pressure and abuse. Demand for our service remains high and thcrc has been an increase in referrals relating to emolionally-based school (Ivuidance." 'We trained, supcrvi8cd volunteer Tnentors to help pcople at risk of hotnelessness or wilh cxpcriencc of the criminal juslice 8yStem or substance misuse to achievc speLific 5hort-tenn gyoals as well as building their Lonfidence and their ability to participate in society. 'We delivcrcd 40 ESOL classes, 36 Employability classes, 39 IT classes and 40 Mcntoring support. 9 refugees have found employment and the others are either looking for employment or in fiirther education." Risk Management The Trustees have considercd the major risks lo which the charity is cxposed and satisfied themselves that systems or procedures are established in order lo manage those risks. The charity's Risk liegister includes sections on gyovemance, operational, reputational and financial risks together with agreed measiires lo mitigate against each. The document is reviewed aiinually by Trustees at their July meeting. Page 5
THE YAPP CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024 FINANCIAL REVIEW Financial position 'I'he Trust 15 dependent on returns from its investments, inLome from which amounted to £183,564 (2023: £162,972). Grants approved amounted to £216,500 (2023- £207.250). The truste¢s s¢t a level of grant spending each year which takes into acLOUTlt projected investinent return and in ordcr to provide additional fl¢xibility, they are able to allocate up to 3 /0 per annum of the Trust's capital on activities within the objectives of the -frus1. £70.000 {2023: £79,790) was withdrawn from the Indowmenl Fund dui'ing th¢ year. Allowing for granl-related support COSts of £35,197 (2023: £33,240) and support costs of £8,598 (2023- £7.272) Ihere was a deficit before transfcrs on the unreslricted income fund for the year of £73,180 {2023.' £79,790). The unrcslrictcd nd now shows a surplus carried fonvard of £586 (2023.. £3,766). It is considered vital to the objects of the charity to maintain the grants stream, niaking capital witlidrawals if necessary. Policy on reserves Grant commitments agreed in respccl of ongoing grants for the next two financial years. total £196,250 at the year-cnd (2023: £179,500). The calculalion of free reserves is based on the definition included in thc charity statement of recommended practice (SORP), which provides recoinmendations for accounting and reporting for charities. it excludes fixed assets touyether wilh long term financing liabiliiies. Free rcsei'ves al the year end are £67,586 (2023: £62,016). The charity aims to hold sufficient ciirrenl asscts to covcr the non-grant payments due in the next year £43,795 (2023.. £40,625). At the year-cnd date there were net ciirrent a5setslliabililics of £10,375 (2023: nel currcnt liabilities of £56.166). 1.his is monitored using a spreadshcel niodcl and discussed at Trustees meetings. The Truslees are comfortable with this positioii givcn the Luent investment ¢issets held and the futiirc inveslmcnl return duc io the charity, which will support payment of existing Liranl comniitnients. Fundraising policy We are aware of the Ch¢irities {ProteLtion and Social Invcstment) Act 2016 Act and recognise the standards requir¢d regarding fundraising. Howcvcr, the cliarity does not engagye in fundraising at Ihis lime. Investment policy and objectives Tlic primaiy invc8lment objective of the Trustccs is to providc incoine for grants, combined with growth in capital, from a portfolio of securities invested in a medium risk category. The following investment objectives were approved at the trustee meeting on151h March 2012 as a suitable mechanism for implementingy the agreed investinent polily: o Income to be general¢d approximatcly cqual to Ihe FTSE 100 yield over any given 6-monih period o Tlic fixed intei'est conteiit is lo be no gi'ealer than 25 % of the total value of11)e '1 rust's investments, the remainder to be in cquities, property or cash. The Ti-usl's Investment Policy is usually reviewed annlially al the Noven)ber ttiislee n)eetin¥. Oversigihi of the perfomiance of the investincnls is dclcgalcd to a sub-coinmillcc of iriistees who Ineel witli the Inveslmeiit Mana(yer regularly. Ai the year-end, the Trust's capital investments iiicludinLY cash held by Ihe Investment Manager were valiicd at £7,654,893 (2023: £7,005,969). There was a further slim of £10,904 (2023.. £25,727) held in the Triist's own bank accounts. Going concern Thc charity's forccasls and projections for the next twelve months shoiv thal the charity should be able to continue in operational existence for Ihat period, t¢ikingJ into account rea50n(ible po55ible changc8 in Irading pcrtomiance. The charity has strong positive investments and cash balances available and is fore¢asling for this to continue to be the casc. The Iruslees have stress tested their forec¢lSts, consideriiig various sceiiarios, and r¢niain conlidcnt Ihal th¢ unccrtainties do not cast significant doubt on Ihe charity's ability lo continue as a going conccrn. Page 6
THE YAPP CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024 PLANS FOR FUTURE PERIODS The grant making policy will cuTJtinue to be regularly reviewed at trustee meetings. Fcedback from grant-holders will ontinue to inforni this pro¢¢ss. A further strategic review is due to tak¢ plac¢ in September 2025. The current financial climate is reducing the Trust'5 investment income whilst demand from appliL(Ints for the Trust's support remains high. The trustees are aware that they must strike a balance between meeting current and future needs in considering the atnount and level of grants made. STRUCTURF, COVERNALYCE AND MANAGEMENT Governing document The Trust is a rebFislered charity. number 1076803, and is governed by a trust deed dated 1st July 1999 (and amcnded 15th July 2004). The Yapp Chai'ilablc Trust was eslablished by bringing together two charitable trusts that were originally created in 1968 in accordance with the Will of William Johnston Yapp who had inslructcd that the rcsidue of his estate was to be used for charitable purposes. Recruitment and appointment of new trustees The Trust is administercd by not less than five and not more than seven trustees. The Iruslees retire by rotation with a maxitnum term of five years unless re-eleLÉed. New trL18tccs are recruiled via advertiseinenls on relevant websites (c.g., Rcach and volunteering aLyencies). The power of appointment of new trustees is vested in the trustecs for the time being, logciher with various administrative powers. At their Sepiembcr 2021 strategy mecling, trustees uliliscd the Association of Charitable Foundations (ACF)'s self-asscssmcnl tool (10 Pillars of Stronger Foundations) designed to help )ranl-making trusts and foundations idciitily and pursue excellent pizctice. The tool coniprises short survcys ba.led on 6 thematic I'cports (i. Diversity, Eqiiity and Incliision. li. inipact & I,earnin(i' iii. Strategy & Governance. iv. "franspareiicy & Engagement. v. Investment. and vi. Funding Practices) and give5 examples of how Inist5 mibht demonsiratc Ihcy Jneet each. Whcn discussing Diversity, b,qiiity & Incliision (DEI). trustees acknowledged that the board has a good mix of demographics iii terms of gyender, aLTre, experience and gcographiL IuLdlion bul is someihing we could further strcngthcn by using scctoi. specific DF.I trdining and resoLifLes (such as Young Trustees and Beyond Siifftage) when recruiting futiire trustees. Induction and training of ncw trustccs Before <ippointing a new tnistee, Ihc ransye of skills amongst exislingy triislees is reviewed lo identify tlic skills and cxperience to be SOLILyhl. Polciitial irustees are pi'ovided with information about the Trust's policics and procedures and are invited to observ¢ a triist¢¢s' m¢¢ling b¢fore a¢¢¢piing appointment. 'I'liey are also provided with Charity Coinmission guidance on acting as a tnistee and askcd to coinplele the charity's 'l"nislees' Cod¢ of Londuct form. .1 ruslee Governance ReferenLe Guide was developed in 2021 to support Tnjslees (collectively aiid individually) lo meel legal and regulatory responsibilities. 'I'he giiide was adopied al the July 2022 meeting, 'lo higihligihi th¢ Trust's orninitmcnt to leai'iiinprof¢ss10nal dcvclopincnl by enci)iiragiingF access lo rclcvai)I courseslworkshops, 'poienlial trainii)g iieeds, is a sland4ird agenda item for discussion al each Trustee mccting. The Trust is a fiill member of ACF - the nicinbership body for UK foundalions and grant-iiiaking charities with the mission of supporting them to be anibitious and effective in tlic way that they use their resources. Related parties The Ti'iist does iiot have a lormal policy but follows tlie Charity Commission's guidelines regarding registering conflicts ot loyalty or interest. 'Declarations of iiiierest, is a siaiidard agenda ilcm al every 1'ruslee nieeting. Ti'Lislees al'e asked an]iually (during the audit pi'ocess) to record <iny conf]i¢ls <ind lo declare theTn al the Start of each mecling. Thcrc were no conflicts of iiiterest during this year. Arrangements for settiiig key management pcrsonnel rcmuneration The bo¢ird, who gFive their lime freely ¢ind received no rcniungr(Ition in the year, have considered the kcy management perso[e1 (KMP) of the charity. Together ¥vith the board, the KMP are thosc in charge of dirc¢ting and controlling, nirming and oper(Iling the activitie5 of the charily on a day-to-d¢ly basis. The board have recognised that the AdministtorITrU5t Seci-etary in addition to themselves is considered to be KMP and is conlracted on a part-lime s¢lf-employ¢d basis. Regiilai. reviews relaling lo performanc¢ and i'cmiiiieration are performed. Organisational structure The trustees meet at least three liines a year to consider recommendations for, and make final dccisions on, the awarding of grants. The day-lo-day adiiiinistration of grants and the pi'ocessing of applications prior to consideration by the trustees is delegaled to the trust Adininistrator, wlio also acts as secretary to the triistees. Page 7
THE Y APP CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER2024 REFFREIYCE AIYD ADMINI.STRATIVE DETAILS Registered Charity numb¢r 1076803 Principal address I si Floor, Milc Housc Bridge End Chester le Street County Durham I)H3 3RA Trustees J Fergiisson J Kisenyi (resigned 2611112024) S J Evans J Orchard (resigned 1/712024) l. J Bone A WHill K Cohen (appointed 1411112024) Indcpcndenl F,xaminer RMT Rib¢h¢sters Accountants and Biisiness Advisors Finchale Floiise 3elmonl Business Park Durham l)EII ITW Statement of Trustccs, Rcsp(Jnsibilities The Iruslees are responsible for prcparing the tnistees, rcporl and the financial stalenients in accordancc with the United Kingdoni Accounting Siandards (Ui)ited Kingdoin Generally Accepted Accounting Practice) and appliLuble law and regiulations. The law applicable lo charities requires the trustees lo prcpare financial statcmenls for each financial year which give a truc and fair view of the slate of affairs of the charity and of the incomiiig resourccs and application of resources of the charity for that period. In preparin¥? thcsc fin(InLial slatemeiits, thc trustees are rcquired to: o select suitable accoiinting poliries and then apply them con5iStenily' o obscrve the methods and principles in thc Charities SOKI). o make judgements and e8liinalcs Ihal are reasonablc and prudei)t' o stale whell)er applicable accoui)ling standards have been followed, subject to any malcrial departures disclosed and explained in thc tinancial 5tatenienls' aiid o prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in business. Thc Irusle¢s are responsible for keeping proper accounting records that disclose with reasonable accuracy al any time the finai)cial posltion of the cl)arity aiid enable them to cnsiire Iliat the financial stalemcnls coinply with the Cliai'ities Act 201 I, the applic(Ible Charities (Accoiints and Reports) Regulations, and the provisioi)s of Ilie conslilution. The truslees are <ilso respoiisible for safegyuardinLy the asset5 of the charity and hcncc for taking reasonable steps for the prevention and detection of fraud and oihcr irrcgularities. Disclosure of information to independent examiner Each trustee has taken steps that they ought to have taken as a trustee in order lo make themselves aware of any relevdnl informalion and to establish ihat ihc charity's independent examiner is aware ol. Ih¢lt information. The trustees confirm Ihat there is no relevant infortnation that they know ofand of which they know the independent examincr is unaware. Reappointmcnt of indcpendent examiner Ribchesters were appointed on 1st March 2024 10 indepcndently examine the trLlSt's accounts for the year ending Septeber 2023. A resolution to i'eappointment Ribchesters lo independently examine the trust's accolints for this financial year was approved al the Iruslee meeting held on 14tli Novembcr 2024. Page 8
THE YAPP CHARITABLE TRusr REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024 Approved by order of the board of trustees on 3 April 2025 and signed on its behalf by.. A W Hill- l-rustee Page 9
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE YAPP CHARITABLE TRUST Independent examiner's report to the trustees of The Yapp Charitable Trust I report to the charity trustees on my examination of the accounts of The Yapp Charitable Trust (the Trust) for the year ended 30 September 2024. Responsibilities and basis of report As the charity tSte¢S of the I"rust you are responsiblc for the preparation of the iiccounts in accordance wilh the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of thc Trust's aLcount5 carried out under Section 145 of the Act and in carrying out my exarnination I have followed all applic(ible Direclions given by ihc Charily Con11Ssion under Section 145(5){b) of the Act. Independent examiner's statement I have completed my examination. I coiifirni that no material matters have come lo my attention in connection with the examination giving me cause to believe that in any material I'espect.. accounting I'ecords were not kept in respect of the Trust as rcquired by Section 130 of the Act. or the accolints do not accord with those records. or the a¢coiints do not coinply witli the applicable requirements concerning the forni and content of accounts sel out in thc Cliarities {ALLounts and Reports) Regulations 2008 other Ih¢in any requircmenl that the accounts give a true and fair view which is not a maller coiisidered as part of an independent examination. I have no concerns and have come across no otlicr matters in Connectioii with thc oxamination to which attention should bc drawn in this rcport in order to enable a proper undcrslanding of the accounts lo be reached. Lcslcy Stabler BA(Hons) FCCA RMT Ribchesters Accountants and Busincss Advisors Finchale I louse Belmonl Business Park Diirliam DHI ITW 9 Api'il 2025 Page 10
THE YAPP CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDF,D 30 SEPTEMBF.R 2024 2024 Total 2023 Total funds Unrestricted fund Restricted rund Endowment fi]nd Notes IINCOME AND ENDOWMENTS FROM Invcslment income 180,915 2,649 183,564 162,972 EXPENDITURE ON Raising funds 40,432 40,432 39,739 Charitable activities Grant funding of activities Support Costs 210,300 43,795 210,300 43,795 202,137 40,625 Total 254,095 40,432 294,527 282,501 Net gains on investments 730.534 730,534 195,372 NET INCOME/(EXPENDITURr.) Transfers bctiveen funds (73,180) 70,000 692,751 170,000) 619,571 75,843 10 Net movement in fllnds (3,180) 622,751 619,571 75,843 RECONCILIATION OF FUNDS l otal funds brou&)hi forward 3,766 6,832,996 6,836,762 6,760,919 TOTAL FUNDS CARRIED FORWARD 586 7,455,747 7,456,333 6,836,762 The notes fortn part of these financial slalemen15 Page 11
THE YAPP CHARITABLE TRUST BALANCE SHEET 30 SEPTEMBER 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted fund Endowment fund Notes FIXED ASSETS Investments 7,512,958 7.512.958 6,951,178 CURRENT ASSETS Inveslments Cash at bank 205,188 4,351 (63,253) 6,553 141,935 10.904 54.791 25,727 209,539 (56,700) 152,839 80,518 CRF,DITORS Amounts falling diie within one year (141,953) (511) (142,464) (136,684) NETCURRENT ASSETS 67,586 {57,211) 10,375 (56,166) TOTAL ASSETS LESS CURRENT LIABILITIES 67,586 7,455,747 7,523,333 6,895,012 CRF.DITORS Amoiints falling due after more than one year (67,000) (67,000) (58,250) NET ASSETS 586 7,455,747 7,456,333 6,836,762 FUNDS UnrestriLled funds Endowment fuiid.s 10 586 7,455,747 3,766 6,832 ()96 TOTAL FUNDS 7,456,333 6,836,762 The financial slatcmenis wcrc approved by tlie Board of Truslecs and auihorised for issue on 3 April 2025 and were signed on its behalf by.. A W Hill- Trustee The notes form part of these financial statements Page 12
THE Y APP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMF.NTS FOR THE YEAR F.NDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial statem¢nts The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (fRS 102) 'Accounting and Reporting by Charities: Statement of Recomm¢nd¢d Practice applicabl¢ to Lharities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Slandard 102 'Thc financi<il Reporting Standard applicable in the UK and Rcpublic of Irelaiid, (ind the Charities Act 2011. The financial slalemenls have been prepared under the historiral cost convention, with the exccpiion of investments which are included at market value. as modified by the revaluation of ccrtain assets. Income All income is recognised in the Statetnent of Financial Activities once the charity has entitlernenl lo the fiinds, it is probablc that the income will be receivcd and the amount can be measured reliably. Expenditure I,i£ibilities are recognised as cxpendittire as soon as thei'c is a legiil or constrLlCtive obli&)alion coinmitting the charity lo that expendilure, it is probable that a transfer of economic bencfils will be required in setllemcnl and the amoiint of the obligation can bc measured reliably. F,xpenditure is accounted for on an accruals basis aiid has been classified under hcadings that agg)regale all cost related to the categ70ry. Where costs cannot be directly attributed to particular headings they have been allocated to activilies on a basis consistent with the use of r¢soui'ces. Cjranls offered subjeLt lo condilions which havc not been niel ai Ihe year end date are nolcd as a commitment but not accrued as expendilurc. Taxation The chttrity is exempt from lax on its chai'ilable aLtivilics. Fund accounling Unrcstricted flinds can be u8cd in accordance with the charitablc objectives (It the discretion of the trustees, Rcslricled fuiids Van only be uscd lor partiLular reslricted purposcs wiihin Ihe objects of tl)¢ ¢hdrity. Restri¢tions arise when spccificd by the donor or whcn funds are raiscd for particular restricted PLifp05es. Further explanation of the iiature and purpose of each fund is iiicluded in the notes to the financial stalcmcnls. Financlal Iiistruments "I'lie ¢harity has clccled lo apply the provisions of section I I 'Basic Fiiiancial Inslrumenls, aiid Sectioii 12 '011ier Finai)cial Instrumen15 15sucs' of FRS 102 to all of its financial in5trumenl8. Financial inslriiinents are recognised in the charity's balance sheet Nvheii the charity becomes party to the conti'aclual provisions of the inslriimenl. Financial assets and liabilities are offset, with the nel amounts prescnicd in the financial stalemcnls, when Iherc is a legally enforLeable right to set off the recoL)nised amounls and there is an intention lo settle on a net basis or to realise the asset and sciilc the liability .8imultaneously. Exemption from prepJring a cash flow statement The charity opted to adopt Bulletin I published on 2 FebrLiary 2016 and have thereforc not inLluded a cash flow slatemenl within these liiiancial Statements. Paoe 13 continiied...
THE Y APP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 30 SEPTEMBER2024 ACCOUNTING POLICIES - continued Going concern The charities and projeclions for thc next tw¢lvc months show that the charity should bc able to continue in operational existence tor that period. 'fhe chariiy has strong posltive investments and cash balanc¢s available and is forecasling for this to conlinue to bc the case. The trustees have stress tested their forecast5, taking into account various scenarios, and remain confident that the uncertainties do not Last significant doubt over the firms ability to conlinue as a b?oing concern. Esliniation uncertaincy and judgements The preparation of the financial statenicnls requires managyemenl to make judgements, estimates and assumptions that affect the aniounts reported. Management have provided depreciation, prepaynents, accruals and other cut-off adjustments. Whilst management believe that these adjustments arc accurate, there is every likelihood thai they will noi be exact. Thesc estimates and judgiements are continually reviewed and are bas¢d on cxperience and olher factors, including cxpe¢talions of future events that are believcd to be reasonable under the circumstances. Income and endowments Endowment fund investments are stated at mid-market value al Ihe year end. Unrcalised gains and losses are included within the Sialeinent of Financial ALtivities (SOFA) and represent the increase or decrease in markct valiie cotnpared willi the market value at the beginiiing of Ihc ye<ir ol the Lost of addilions al the end of tlie year. Investment income Investment incomc is reLogiiised oil an accrual basis and any repayable income lax dttributable to tl)e income is recogni.8ed on thc same date. F.xpenditure All expenditure is includcd on an acLrual basis and is recognised when there is a legal obl igation lo do so, Raising funds Tl)ese are costs inLLirred in altractiiig income, the management of inveslmeiits and those incurred in trading activities that raise funds. Charitable activities Cl)arilable expenditure compromises those costs incurrcd by tlie cliarity in the dcliveiy of its activilies and services for ils beneficiaries. li includes both costs that cali be allocated directly to such activities and tliose cost5 of an indireLI nalure necessary lo siipport thcm. Grant expenditure and commitmcnts Grants <iivarded (Ire reco•nised oiice tlie trLlStecs have approved the commilinenl, giving the I'ecipienl an expeclalion of receipt, even though the paymcnls may be scheduled over a pei'iod of Ihi-ec years. Any granl which is unpaid at thc ycar end is recorded in creditors and analysed accordingyly whciher dlie in less than or more than one year. Grant provisions Provisions for a grant are made when the intention to make a ant has been communicated to ihc recipient but there is iincertainty about either thc timing of the grant or the amount of grant payable. Other expenditure Dirccl costs are allocated to one of the fiinctional categories ofresoiirces explained within the SOFA. Adniinistration Costs are apportioned between costs of charitable activities and governance costs based on an analysis ol liine speiii by the adininisti'atoi. on grant-related activities. Page 14 continued...
THE YAPP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES- continued Expenditure includes any VAT which cannot b¢ r¢covered as the Charity is not VAT registered. Supporl costs Support cosls have been allocated to aLtivity cost categories on a basis consislent with the use of resources. Taxation The charity is considered lo pass the tests set out in Paragraph I Schedule 6 of thc Finance Act 2010 and therefore it meets the definition of a charitable conipany for UK corporation tax purchases. Accordingly, the charity is polenti(illy exempt from taxation in respect of inconie or Lapital gains received within categFories covered by Chapter 3 Part I l of the Corporation Tax Act 201 O or Seclion 256 of the Tax¢ilion of cllargeable Gains Act 1992, to the extent that such income or gains are applied cxclusively to charitable purposcs. Fixed asset investments Fixed asset investn)ents arc tncluded al market value at the balance sheet dale. Realiscd gains and losses on investments are calculated as the diffcrcnce between sakes proceeds and their market V¢ilue at the start of the year, or their subsequent cost, and are chargcd or crediled lo thc Stateinent of Ftnancial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and a ¢reditcd or charged to the Statcmcnt of Financial Activities b<ised on the market value al the year cnd and allocated to the Endowment funds. Current asset investments Currcnt asset inveslments are cash deposits <ind included at Iheir tran.sactioi)al valuc. Debtors Prcpayments and accrued income rclllles to amounts paid in advance of sel.vice goods beingi r¢ccived and income reccived in iidvancc of goods/ serviccs being provided respectively. Cash xnd cash equivalent5 Cash and cash eqiiivalents compromise cash on hand arid call deposi15, and other short-term highly liquid investments Ihal are readily convertiblc to a known (Imounl of cash and are subject to an insignificai)I risk or change in value. Fund slruclure Both the iiicomc fund and tlie endowmcni Lapital fund are unrestricted income funds which are available for use at the trustee's discretion in fiirtheraiice of the objectives of the charity and have not been desigiiated for other piirpose5. INVISTMENT INCOME 2024 2023 Inveslinenl income Interest receivable 180,661 2,903 162,832 140 183.564 162,972 Page 15 continued...
THE YAPP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 GRANTS PAYABLE 2024 2023 Grant funding of dctivities 210.300 202,250 Page 16 continued..
THE YAPP CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024
GRANTS PAYABLE- eontinued
The total grants paid to institutions during the year was as follows:
2024
2023
Beverley RDA
Calon RDA
CANDI
l.arnbeth Elderly Association from Vietnam
Merry Go Round Toy & Ixisure Librarie5
Moorlands Voluntary & Community 'fransport
PACE 2000
Read E<lSy Hackney
1st Chivenor Scout Group
Ivoice - Communicating Togieiher
Ashington Veterans and Elders Institute
BCU Lifc Skills Centre
Middlesbrough Sportability Club
Movement for All
New Friends for You
Own Books
6,000
2,500
9,000
9,000
6,000
7,500
6,000
3,000
1,000
4,000
3,000
6,000
9,000
3,000
6,000
1,000
6,000
6,000
9,000
9,000
6,000
3,000
750
,500
9,000
3,000
9,000
4,000
9,000
2,000
9,000
3,000
7,500
3,000
1,500
3,000
9,000
6,000
6,000
(5,000)
3,000
Sahara (Coveniry) I,td
Sty Autism Support
Somersel Child Contact L¢ntres
Southbourne & Di5tricl Age Coiicern
.1 wocan Incliisivc Thealrc Company
6th East l)addingion Brownie Giiide Unit
Bivol Trust
Carcrs Sitters Service
Clapton & IIackney Sea Cadcts
Derby Refugyec Forum
Dyfodol Powys Fulures
Eastlcigh Ilorough & Ilomscy Mencap Society
Fireworks
LAamig)a
Marsham Older Peoplc's Project
Minehead Hope Ccnlre 1-rusl
Read F.asy Notlin¥ham
Spe
THE YAPP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 GRANTS PAYABLE- continued Binningham Stirling Unit 39 of the Sea Cadet Corps Calnden Listening & Counselling C¢ntre Christchuch Support Kabin D'Arts Doorset Reading Partners Midlands Migrant Support Paul Ridd Foundation Rhondda Sea Cadets Wigan STARS The Crossii)g l)oint 1st Murton Scouts Allied Resource community Bradford Sea Cadets Connections Group Exeler Green Hcalth 'l'hames Valley M<ima2Mama Baby F,ssenlials Prcgnant in West Londoii Salaam FC 'l-rimsaran Family Centre Winslow Activity Club You My Sister 'renby Sea Cadets 3,000 9.000 6.000 6,000 6.000 6,000 3.000 6,000 6,000 9,000 3,000 9,000 6,000 9,000 6,000 3,000 6,000 9,000 3,000 5,000 4,500 1,500 210,300 202,250 TRUSTEES, REMUNERATION AND BENF.FITS There were no Iruslees, reiniineralion or othei. benefits for the ycar endcd 30 Scpteinber 2024 nor for the year cnd¢d 30 September 2023. Trustees, expenses During tlie year the trLlStces were rcimbursed expcnses totalling £2,145 (2023., £1,271). COMPARATIVF.S FOR THE STATEMF.NT OF FINANCIAL ACTIVITIES Unrcstricted Restricted fund fund Endowmenl ftind Total funds INCOME AND F.NDOWMENTS FROM Inveslinent income 162,972 162,972 EXPENDI'fuRE ON Raising) funds 39.739 39,739 Charitable activities Grant funding of aclivitics Support costs 202,137 40,625 202,137 40,625 Total 242,762 39,739 282,501 Net gains on investments 195,372 195,372 Page 18 continued...
THE YAPP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THF, YEAR ENDED 30 SEvfFMBER 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Restricted Endowment fund rund fund Total fund5 NET INCOME/(EXPINDITURE) Transfers between funds {79.790) 40,000 155,633 (40,000) 75,843 Net movement in funds (39,790) 115,633 75,843 RECONCILIATION OF fuNDS Total funds brought fOard 43,556 6,717,363 6,760.919 TOTAL FUNDS CARRIED FORWARD 3,7()6 6,832,996 6,836,762 FIXED ASSET INVESTMENTS Listed inveslments MARKET VALUE At l October 2023 Addiiions Disposals Revtilualions 6,951,178 1,524,434 (1,619,395) 656,741 At 30 Scptember 2024 7,512,958 NET BOOK VALUE AI 30 Septembcr 2024 7,512,958 AI 30 Septeniber 2023 6,951,178 There were no investment asscts oiitside Ihc UK. Cosi or valuation al 30 September 2024 is reprcsented by: Listed investnients Valuatioii in 2024 7,512,958 The invcslments have beeii valucd by Investec, the '[ nist Investmcnl Managers, a8 al 30 September 2024 and in accoi'dance with the Siatcmenl of Recoinmcnded Pi'actice, Ihey have been shown in the Balance Slieet at their market value. I'he historic cost as at 30 September 2024 amounted to £7,654,892 (2023.. £7,014,750). Page 19 continued...
THE YAPP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 CURRENT ASSET INVESTMENTS 2024 2023 Cash deposits 141.935 54,791 CREDITORS: AMOUNTS FALLING DUE WITHIN ONF. YEAR 2024 2023 Other creditor5 142,464 136.684 CREDITORS: AMOUNTS FALLINC DUF. AFTER MORE THAN ONE YEAR 2024 2023 Othcr creditors 67,000 58,250 io. MOVEMENT IN FUNDS Nel movement in funds Transfers belwcen funds At 1.10.23 At 30.9.24 Unrestricted funds Licneral fiind 3,766 (73,180) 70,000 586 F,ndowment funds Endownicnl fund 6,832,996 692,751 (70,000) 7,455,747 T()TAL FUNDS 6,836,762 619,571 7,456,333 Net movement in funds, included in Ihc above are as follows.. Incomin(y resourccs Resources expcndcd Gains and losscs Movement in fui)ds Unrestricted funds General fund 180,915 (254,095) (73,180) Endowment funds Endownieiit fund 2,649 (40,432) 730,534 692,751 TOTAL FUNDS 183,564 (294,527) 730,534 619,571 Page 20 coniinued...
THE YAPP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SF.PTF,MBER 2024 io. MOVEMENT IN FUNDS- continued Comparatives for movement in funds N¢1 movement in funds Transfers between fijnds At 1.10.22 At 30.9.23 Unrestricted funds Gencral fund 43,556 {79,790) 40,000 3,766 Endowment funds Endowment fund 6,717,363 155,633 (40,000) 6,832,996 TOTAL FUNDS 6,760,919 75,843 6,836,762 Comparative net niovement in funds, included in the above are as follows: Incoming resolirces Resources cxpcndcd Gains and losscs Movcment in funds Unrestrieted funds Cjeneral fiind 162,972 (242,762) (79,790) F.ndowmcnl funds Endownient fund (39,739) 195,372 155,633 TOTAL FUNDS 162,972 {282,501) 195,372 75,843 A Lurreiil ycar 12 monihs aiid prior year 12 months Lombincd position is as follows: Nel movement in t.unds Transfers between At .10.22 At 30.9.24 Unrestrictcd funds General fuiid 43,556 (152,970) I i 0,000 586 .ndowment funds Endowmeiit fund 6,717,363 848,384 ( I i 0,000) 7,455,747 TOTAL FUNDS 6,760.919 695,414 7,456,333 Page21 continued...
THE Y APP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 io. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined nct movement in funds, inLluded in the abov¢ are as follows: Incoming resources Rcsources expended (iains and losses Movement in tunds Unrestricted funds General fiind 343,887 (496,857) (152,970) Endowment funds Endowment fund 2,649 (80,171) 925,906 848,384 TOTAL FUNDS 346,536 (577,028) 925,906 695,414 RELATF.D PARTY DISCLOSURES There were iio related party transactions for Ihe year ended 30 September 2024. Page 22