Charlty règistration number 1086780 Company registration number 3987232 {England and Wales) EAST CLEVELAND YOUTH HOUSING TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
EAST CLEVELAND YOUTH HOUSING TRUST LEGAL AND ADMINISTRATIVE INFORMATION TrustÈes C Ditchbum A Ward18 V Yare D Eagle S M Bullock Socretary C Ditchbum Projèct Manager A Pettersen Charlty number 1086780 Company number 3987232 Roglstor•d offic• Bhive Buslness Centre Skèllon Industrial Estale Sk Bhive Buslness Centr8 Sk8lton IndustTial Estate, Skelton-ln-cleveland Saltburn-By-The-Sea England TS12 2LQ Independent examlner Bevedey fy)odall AbacusBean Limttèd Level Q Surtees Business Park Stocklon on Tees TS18 3HR Bankers Unity Trust Bank PO Box 7193 Plantary Road Willenhall WV1 9DG
EAST CLEVELAND YOUTH HOUSING TRUST CONTENTS Pago Tru5tees' report Independent examine¢8 report Statement of financlal activllles 8alan(x STret Notes to the financial statements 8-19
EAST CLEVELAND YOUTH HOUSING TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present Iheir annual report and financÉal statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and COTTTply with the trust's governing documenls. the Companies Act 2006 2nd "Accounting and Reporting by Charities= Slatement of Recommended Practice applicable to charities pparIng their accounts in accordan with the Financial Reporting StandaTd applicable in the UK 2nd Republic of Irelarld IFRS 102) (effective 1 January 2019>" ObJectlv8s and activitles East Cleveland Youth Housing Trust works to help young people improve their lives in the community that they live and work, Ihrough offering a dlverse range of optK)rtuniiies and expeF5ences. The aim of the Trust is to provld8 16-25 year olds living in rural cornmunities of East Cleveland with.. 1) A Netsvork of affordable. supported aGwmmodation for young people who are in h(wsing need, 21 Local tralnlng opportuniti8s in building related skills Ihrough the renovation of empty properties, work undertaken In community buildings and for other voluntary s8dor organisations, 3) Opporbjnities for personal development arbd supp)rt to deveknp life and social skills. The trustees have paid due regard lo guidance issued by th8 Charily Commission in declding what actlvllles the trust should undertake. Achlevoments and perfom)an¢e Flnancial review It is the policy of the twst that unrestrlcled funds which have not been designated for a specific use should be mainlained al a level equivalent to slx month's expenditure. The trustees consider that SerVeS at this level will ensure that. in the event of a significant drop in funding, they will be able to continuo the trust's current activities while cnnsideration is given lo ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The company's Statement of Financial Activities can be seen on page 5. During the year unrestrict8d activities have resulted in a deficit of £24,535, which leaves unrestricled reseNes to carry forward of £894,115. Includod in unrestricted reserves are funds of £725,502 relating to the propety and £848 relating to other fixed assets. Free reserves are £167.765. Restricted fU[S had a deficit on the year of £3,017. This leaves restricted funds to Cary forward of £252,648. The funds relating to properties on restricted reserves are £237.131. The net assets of the organisalion Stood at £1.146,763 compared to £1,174,315 in 2023. A list of grants received is shown on notes 3 & 4 and refleds the broad range of stakeholders who invest in the project artd the increased funding activity und8rtaken. The trustees continue to asse5S the rnajor nsks to whlch the ch8rity is exposed and has worked hard over the year to manage the risks that the pandemic has broughl in terms of sustsining service delivery as we move forward. The trustees are satisfied that the systems we have adapted over the year continue to mitigat8 the current risks with which we are faced.
EAST CLEVELAND YOUTH HOUSING TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The current board of directors. staff team. voluntèers and slakeholders linked with the organtsation have worked hard over the last 12 months in the most challenging of C1uMStanS to keep delivering our core ServIS to clients acros5 our neighbourhoods. The board is commttled to the ongoing developrTrent of the trust working in the unfamiliar environment conlinuing to build and sustain an agile and robust charity that will maximise its impact in our 5ocalFty. The board has continued to review its role in assessing and managing the risks profile it has to manage. In the of the current challenges that we face Ihe board continuo to monitor and review the changing risk profile and mainlatn a system to mitigate those risks. The board are conttnuing to move forward with its income diversity work as part of the strategy to make the chatity more sustalnable lo enable the future delivery of the core objective5 and activities. Plans for the future ECYHTS vision is to empower people in East Cleveland with the resources. sklll8 and aspiratlon lo succeed in Irf6, by providing safe, supportive environments and personal development opporttJnitl8s. Over the next five y8ars, we airn to ensure that P8opI8 in East Clev8land have access to a diverse range of serv6ces and actlvltles, including affordable housing, training and volunteerirvJ. Our approach to delNery revolves around three cor8 areas: community wellbeing, trainlng and employment servlces. and increasing and Improvlng a¢sS to housing. We will provide tsilored 1MMunItY SUPt)ort. tralnlng programmes, appr8nticeships and practlcal learnlng opportunitlès. To deliver this, over the next five years (2023-2028) we wlll work lo ensure that people in East Cleveland have access to a diverse range of services and activities including opportunities affordable houslng. training and volunteering. To make this happen we alm to d81ivèr against the following five objeclives: 1. East Clev8land Youth Housing Trust IECYHT) will work with a more diverse range of people in East Clev6land, using an expanded neOrk of partners, referrers and supporters who can Verage OPPOrtunilies for the chaTrty and its benefictarles 2. ECYHT will develop a strong team of stsff. tnjstees and voiunteers who have the skills and exp8rtise needed to support the organi88tion 3. ECYHT will have a secure premises which is fft for pur[. offering an expanded range of communiLy support 4. ECYHT will have a more diverse funding base, including an increased assot base. which generates increas1 unrestricted funding for the organisation 5. There will be increased recognition and support of ECYHT 8(woss Redr & Cteveland. and beyond. S*Tucture. governance and management The trust Is a (xjmpany lifflited by guarantee and goVerd by its Memorandum and Article5 ofA5sociation in(xJrpor2ted on 8th May 2000. The ttee8. who are also the directors for the purFK)se of company law, and who served during the year and up to the date of s¢gnature of the financial ststements were: C Ditchbum A Ward18 V Yar8 D Eagle S M Bullock None of the trustee$ has any beneficlal interest In the company. The trustees. report was approved by the Board of Trustees.
EAST CLEVELAND YOUTH HOUSING TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 C Dltchburn Truslee A Wardle Trustee
EAST CLEVELAND YOUTH HOUSING TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EAST CLEVELAND YOUTH HOUSING TRUST I report to the tnJstees on my examination of the financial statsments of East Cleveland Youth Housing Trust (the trust) for the year ended 31 March 2024. Responsibilities and basls of Teport As the trustees of the trust {and also its director5 for the wrposes of company law) you are responsible for the preparation of the financial statements in accordan with the requirements of the Compantes Act 2006 (the 2006 Act}. Having satisfied myself that Ihe financial Statements of the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examinab.on of the trust's financial ststements carried out under sedion 145 of the CharFties A¢1 2011 (the 2011 Act). In rryIng OLrt my examination I have followed all the applicable Directl$ given by the Charty Commission under section 145{5)(bl of the 2011 Act. IrKlependont examinerf8 ststemont I have ¢ompletsd my examination. I confimi that no matters have come to my attention in connection with the èxamination giving me cause to b81i8V8 that In any material respact: aCunting records were not kept in respect of the trust as required by section 386 of the 2006 Act. or the financral statemènts do not accord with those records., or the financial statements do not comply wilh the accounting requirements of sectlon 396 01 the 2006 A other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination- or the financial statements have not been prepared in accordance wlth the mathods and principles of the ststement of Recommended Practice for acc(ntIng and reporting by charities applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in thé UK and Republic of Ireland {FRS 102). I have no ConMS and have come across no other matters in connection the examination lo which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Beverfey Goodall BA BFP FCA AbacusBean Llmited Level Q Surtees Business Pafk Stockton on Tees TS18 3HR Dat8d'.
EAST CLEVELAND YOUTH HOUSING TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restrlcted funds funds 2024 2024 Total Unrestrictgd Restricted funds funds 2023 2023 Totsl 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Communty works Grants received 23,350 23.350 27,656 27.656 1.400 51,105 27.957 27,957 51.105 Investments Oth8r income 69.547 69,547 138 71,076 265 71.076 265 Total income 93,035 27,957 120,992 100,397 51,105 151,502 Exp•ndlture on: Raising funds Charitable aclivities 75 117,495 75 148,469 100 66,559 100 149,481 30,974 82.922 Total expendiluro 117,570 30,974 148.544 66,659 82.922 149,581 Net Incomel{expenditure) and movement In funds (24,535) (3.017} {27.552) 33.738 {31.817} 1.921 ReconciliatFon of funds: Fund balances at 1 April 2023 918.650 255,665 1.174,315 884,912 287,482 1.172.394 Fund balan¢es at 31 March 2024 894,115 252,648 1,146,763 918,650 255,665 1,1T4.315 The statement of ffinanal 8Ctiviknes indude5 all gains 8nd losses recogni8ed in the year. All income and expenditure derive from continuing activities.
EAST CLEVELAND YOUTH HOUSING TRUST BALANCE SHEET ASAT 31 MARCH 2024 2024 2023 Notes Flxed assets Tanglble assets Investment properties 13 14 961 962,633 1,916 937.166 3,594 939,082 Current as$ets D8btors Cash at bank and In hand 15 16,086 183,926 13.464 240.806 200.012 254,270 Creditors: amounts falling due wlthln one year 17 {10,843) (11,537) Net current assets 189,169 242,733 Total assets less current Ilablllties 1,152,763 1.181,815 radttor8.' amounts falling due after morethan on• year 18 16.000) {7,51)0) Net assets 1,146,763 1,174,315 Income funds Restricted funds Unrestricted ftjnds 20 252,648 894,115 255.665 918,650 1,146.763 1,174,315
EAST CLEVELAND YOUTH HOUSING TRUST BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 The company is entitled to the exemption from tha audil requiremént contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The direciors ackn(wledge their responsibilities for complying wilh the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the Gompany to obtain an 8udit of its financial statements for the y8ar in question in acc(*dance with section 476. These financial stalements have been prepar8d in accordance wilh the provisions applicable to companies subjecl to the Small c4Jmpanies regime. The financial stalements were approved by the Trustees on .... . C Ditchbum Trusloe Awardle Trust00 Company Registration No. 3987232
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL 8TATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies Charity inforniation East Cleveland Youth Housing Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Bhive Business Centre, Skellon InduSal Eslale Sk Bhive Business Centre, Skelton Industrial Estate, Skelton-ln-cleveland. Saltbum-By-The-Sea. TS12 2LQ. England. 1.1 Accounting convention The financial statements have been prepared in accordance with the trusvs goveming document. the Companies Act 2006 and "Accounting and Retxjrting by Charities". Statement of Recommended Practtce applicable lo charities preparing their accounts in accordan with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102) (effective 1 January 20191". The trust is a Publi Benefit Entity as defined by FRS 102. The trust has taken a¢Jvantage of the provÉsions in the SORP for charities applying FRS 102 Update Bullets'n 1 not to prepare a Statement of Cash Flows. The financial stat8m8nts are prepared In steding. which is the functional currèncy of tho trust. Monetary amounts In these financlal staternents are rounded to thè naarest £. The financial statements have been prepared under the historical cost convention. modlfled to include the revaluation of freehold properties and to include inveslmenl PrOpertS and certain financial Instruments at fair value. The principal accounting polici8s adopted are set oul below. 1.2 Golng concem At the Ilme of approving the financlal statements, the trustees have a r8asonable 8XP8clalion that the trust has adequat6 rèsources to conllnue In operational existence for the foreseeable future. Thus the trustees continue lo adopt the going concem basts of accounting in preparing Ihe financial statements. 1.3 Charitable funds Unrestricted funds are avallable for use al the discretion of the Irustees in furtherance of their charitable objectivès unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial statements. 1.4 Income Income is recognised when the trust is legally entitled to it after any perfomiallce conditions have been mel the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in rdation to donations r8C8ived under Gift Aid or deeds of covenant is recogni5ed at th8 tifne of the donation. Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribut. the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aeeountlng pollcigs {Contlnuod) 1.5 Expendituro Expenditure is recognised once there is a legal or constructive obligation to trdn5fer economic benefft to 8 third party, il is probable that a transfer of economic benefits will be required in settlemenl, and the amount of the obligation can be measured reliably. Expendiiure is classified by activity. The costs of each aGlÉvity are made up of the tolal of direct costs 8nd shared costs, irlUding support costs involved in undertaking each actiVFty. Direct costs attribuLqble to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are nol attributable to a single aclivity are apporlioned between those activities on a basis consist6nt with thg use of resources. Central staff Costs are allocated on the basis of time spent. and depreciation charg8s are allocated on the portion of Ihe assefs use. 1.6 Tanglble flxed assets Tangible fixed assets are initlally measured al cost and subsequently measured at cost or valuation. net of depreciation and any impaimient losses. Depreciation is recognised 50 as to write off the cost or valuation of assets less their residual valuès over thelr useful lives on thg following bases: Tools and 8quipment Office equipment Motor vehicles 10Yo Straight lin8 25Yo Straight lin8 25% straight lin8 The gain or loss arising on the disposal of an asset Is detemiined as th8 difference between the sale proedS and the carrying value of the asset, and is recognis&fj in th8 slat8m8nt of financial activilies. 1.7 Investment property Investment property, which is property held to earn rentals andlor for capital appreciation, is initially recognised al cost, which includes the purchase wst and any directly attributable expendilure. Subsequently It is measured al fair value at the reporting end dale. The surplus or deficit on revaluation is recognised in the SOFA. 1.8 Impairmgnt of fixed assets At each reporting end date, the trust reviews the carrying Jnounts of its tangible assets to detsmine whether there Is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment Ioss (if any). 1.9 Cash and sh equivalents Cash and cash equivalents includ& cash in hand, dep)sits held at call with banks, other short-tern liquid investments Wlth original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The trust has elected to apply the provisions of Section 11 'B8sic Financial Inslruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its finanfaal instruments. Flnanclal Instruments are recognised in the trust's balan sheet when the trust becomes paty to the contractual provision5 of the instrument. Flnancial assets and liabilities are offsgt, with the net amounts presented in the financial statements, when Ihere Is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a net basis or to realise the asset and settle Ihe liability simultaneously.
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollclos (Contlnued) Basic financial assets Baslc financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequenly carried at amortised cost using the effectiv8 interest m8thod unless the arrangement constilutes a financing transaction, wher8 the trans8Ction is measured at the present value of the lulure receipts discountsd al a mark81 rale of Interest. Financi81 ass8ts classified a5 receivable within on8 year are not amortlsed. Bask flnancial Ilabllltles Baslc financial liabililles, Includlng creditors and bank loans are inltlally recognised at transaction pric* unless the arrangem8nt constllutes a financing transaction, where the debt instrument Is measured at the present value of ihe fijture payments dlscountsd at a market rale of interest. Financial liabilities classified as payable within one year are not 8mortl8ed. Debt instruments are subsequently carried at amortised cos( using the effective interest rale method. Trade creditors are obligations to PBY for goods or services Ihat have been acquired in th6 ordinary course of operations from suppliers. Amounts payable are clas81fied as current liabilities if payment is due within one year or less. If nol, they are presented 8s norpcuffent liabilities. Trad8 credltors are recognised initially at transactlon prfc6 and subsequently measured at amorb'sed cost using ihe affective Interest method. Dero¢ognitlon of flnan¢lal Ilabllltles Financial liabilities are derecognis8d when the trust's contraciual obligations expire or are dtscharged or cancelled. 1.11 Employeo benèfits The cost of any unused holiday entitlement is recognised in the peri¢)d in which the employee's servS¢es are received. Termination b8nefit8 are recognised immediatsty as an expense when the trust 18 demonstrabty committed to temilnate the amploymenl of an employee or to provide termination benefits. 1.12 Retirement bonafitS Payments lo defined contribution retFrement befft schemes are charged as an expense as they fall due. Crlttcal accountlng estlmates and Judgements In th8 application of Ihe trust's accounting policies. the trustees are requlred to make judgements, estlmat88 and assumpiioris about the carrylng amount of assets and liabilities that ar8 not readily apparent from other sources. The estsmates and associated assumptions are based on historical exp8riènce and other faciors that are nSIdered to be relevant. Actual results may dlffer from these estlmales. The esiimates and underlying assumptions are review8d on an ongoing basis. Revisi¢5 lo accounting estimates ar8 recognised in the period in which th8 8slimate is revised where the revision affects only that pedod, or in the period of the revision and fvtU perio(ts ere the revision affects both currenl and future periods. 10-
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestrlcted funds 2024 Unrestrlclod funds 2023 Donatlons and gifts Grants receivéd 1,350 22.000 6,829 20,827 23.350 27,656 Grants receivable for core activlties Redcar & Cleveland Council EMR Amold Clark Cowop Community Fund Virgin Money Foundation Glasspool The Ballinger Charitable Trust Local Giving Ltd Yorkshire Building Society 10,000 2,000 1.000 2,339 3,000 2,488 20,000 500 1,500 22,000 20,827 Income from charitable activities Unrestrictsd Restricted funds funds 2024 2024 Totsl Unrestrlcted R8strl¢t•d funds funds 2023 2023 Totsl 2024 2023 Community works Services provided under contract 1,400 1,400 Grants received Performance related grants 27,957 27,957 51,105 51,105 27.957 27,957 1,400 51,105 52,505 11
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charltable activities (Continued) Perfomiance relatod grants analysls Grants recfrlvod 2024 Granls recelv8d 2023 Nomianby Charitable Tnjst The P6rcy Bilton Charlty Lloyds Foundation TVCA William andAlex Dewinion Virgin Money Foundation Neighbtsurfy Foundation Wllliam Leech Dar11ngton Building S(MYety Gr8ggs Foundalion Historic income reallocated as unrestricted Other 2.500 4.680 2.250 3,422 10,000 41,000 5.000 5.000 15.000 5.509 100 (15,667) 268 27,957 51,105 Income from Investments Unrestrictsd Unrestrictèd funds funds 2024 2023 Investment income 69,547 71,076 other Income Unrèstricted Unr•strlcted funds funds 2024 2023 other income 138 265 12-
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raising lunds Unrestricted Unrestrlcled funds funds 2024 2023 Fundraising and publicity Advertising 75 100 Exponditure on charitablè a¢tlvltle6 Unrestrlcted Rostrlcted expendfture oxpendlture 2024 2024 Total Unrèstrlctod R•strlcted expendlture expendlture 2023 2023 Total 2024 2023 Dlrect costs Staff costs Rent Prop8rty renovations & ext8mal building costs Telephone Motor. travel & volunteers costs Professional fees Development & tralning Reffèshments, recrèatlonal & events Printing, stalionery & advertising Insurance AcGountancy Cleaning & repairs Sundry Employment Law Services Other charitable expendllure 105,449 8,798 4,349 114.247 4.349 42,563 762 64,950 107,513 762 6,069 550 6,069 954 1,978 1,207 12,276 14,254 1,207 404 3,276 1.661 3,370 1,661 808 1,114 600 1361 1,539 3,900 2,653 4,500 1361 21 673 694 654 654 733 42 6,842 2,250 775 6.842 3,330 341 710 32 7,456 4,112 32 7.456 4,112 186 656 1,080 341 410 300 399 257 1.329 1,329 3,319 1,000 4,319 4,203 4,203 117,495 30,974 148,469 66,559 82,922 149.481 Analysls by fund Unrestricted funds Restricted funds 117,495 117.495 30,974 66,559 66.559 82,922 30.974 82,922 117,495 30,974 148,469 66,559 82.922 149,481 13-
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement in funds 2024 2023 Net movement in funds is stated after chargingl(creditingl Accountancy f88S.' Independent examlnatÉon fee other Accountancy services Depreciation of owned tangible fixed a8s8ts 1,800 1.530 1.262 1,800 1,525 1.885 10 Trustees None of the trustees lor any persons connected with Ihem) received any remuneration or benefits from the trust duriru the year. 11 Employoos The average monthly number of employees during the year was.. 2024 Number 2023 Number Charitable Activities Administration Totsl Employment costs 2024 2023 Wages and salaries Social seujrity costs Other penslon costs 109,653 2,814 1.780 103.886 1.863 1,764 114.247 107,513 There were no employees whosé annual remuneration was rrnre than £60,000. Remuneratlon ol key management personnel The Uneration of key management personnel was as follows.. 2024 2023 Aggregate compensation 60.180 47.952 12 Taxatlon The chanty is exempt from tsxation on its artivities bUSe all its InMe is applied for charitable purposes. 14-
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tanglble fixed assats Tools and oquipment Office equipment Motor vehicles Total Cost At 1 April 2023 Additions 2,816 4,771 307 10.296 17,883 307 At 31 March 2024 2,816 5,078 10,296 18.190 Depreciation and Impalrnient At 1 April 2023 Depreciation charged in the year 2,384 43 3,287 1,219 10,296 15,967 1,262 At 31 March 2024 2,427 4.51 10.296 17,229 Carrying amount At 31 March 2024 389 572 961 At 31 March 2023 432 1,484 1,916 14 Investmenl property 2024 Fair value At 1 April 2023 Additions through exlemal a¢quisitlon 937.166 25,467 At 31 March 2024 962,633 Inv8slment properte5 were valued by management in July 2019 based on local knowledg6 of the area and from rnt property sale values in tho viclnity- Management consider Ihat the valuation al 31 sl March 2024 would be materially the same. There are restrictions on the ability lo realise proceeds on disposal on rtain investment propertles. These amount to £237,131 . 2024 2023 Freehold 962.633 937,166 15-
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Debtors 2024 2023 Amounts falllng duo within one year.. Trade debtors Pr9payments and accrued incomo 7,144 8,942 7,144 6.320 16,086 13,464 16 Loans and overdrafts 2024 2023 Other loans 7,500 9,000 Payable wlthln one year Payable after one year 1.500 6.000 1,500 7,500 Amounts included above which fall du& aftèr five years.. Payable by inst8lments {1,500) The loans are secured on the property 111 Hlgh Street. Brotlon, TS12 2QD. 17 Credllors,. amounts falllng due wlthin one year 2024 2023 Borrowings other taxation and social security Payments received on account Trade creditors Other credttors Accruals and deferred income 1.500 2.155 {397) 4,741 1,531 1,313 1.500 1,442 (151) 6.709 456 1.581 10,843 11,537 18 Creditors: amounts falling due aftor moro than one year 2024 2023 Borrowings 6,000 7,500 18-
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Retirement benefit schemos 2024 2023 Defined conlrlbution schomes Charge to profit or loss in respect of defined contribution schemes 1.780 1,764 The trust operates a defingd contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund. 20 Restrlcted funds The restriclad funds of the charity comprise the unexpended balances of donations and grants held on trusl subject to specific conditions by donors as lo how they may be used. At 1 Aprll 2023 Incomlng rosour¢oS Resourcos Al 31 Mar¢h expendod 2024 255.665 27,957 130,974) 252,648 Previous year: At 1 April 2022 Incomlng rasources Resources At 31 March expended 2023 287,482 51,105 (82,922) 255.665 21 Unrostricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which ore not subject to SP8cific conditions by donors and grantors as to how Ihey may be used. These include designated funds which have been set aside out of unrestricted funds by th8 tru81ees for specific purposes. At 1 Aprll 2023 Incoming resources Resources At 31 March &xpended 2024 General funds 918,650 93,035 1117,5701 894,115 Provlous year.. At 1 Aprll 2022 Incoming resources Rgsources At 31 Mareh expended 2023 General funds 884,912 100.397 (66.659) 918,650 17-
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Analysis of net assets between funds Unrestrictod funds 2024 Reslrlcted funds 2024 Totsl 2024 At 31 March 2024.. Tangible assets Investment properties Current assetsl(liabilities} Long term liabilitie8 848 725,502 167,765 113 237,131 21,404 16,000} 962,633 189,169 16.000} 894,115 252.648 1.146.763 Unro$trict•d funds 2023 Rostrlctèd funds 2023 Total 2023 At 31 March 2023: Tangible assets Investment properties Current assetsl{liabllitiesl Long term liabilities 1,535 700.035 217,080 381 237,131 25,653 {7,500) 1,916 937,166 242.733 {7.500) 918,650 255.665 1,174,315 23 Rglated party transactlons There Vr6 no disclosable related party transaotions during the y8ar12023- none}. 18-
EAST CLEVELAND YOUTH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Use of RestriGt8d Funds Lloyds Foundatlon Additlonal fundlng support received during Covld TVCA Funding for business support during Covid Wllllam & Alex D0Wlnton Thls fund contributes toward5 the wages l expenses of the sile supeNlsor role Vlrgln Money Foundation Grant for th8 trusts core costs Nelghbourly Foundation To fund costs associated with housing renovation projects Wllliam Leech To fund Gosts associated with housing renovatlon projects Greggs Foundation A donation for a tenants white goods and sd)ool uniforni The Porcy Biltan Charlty Grant to cover property renovation work Darllngton Building So¢lety Grant to cov8r Tenancy Support L8ader role Normanby Charltable Trust Grant to cover propety renovatlon costs Ballinger Charitablo Trust Funding for the 8uilding Skills Manag8r role Nornianby Charltable Trust An unrestricted gr8nt for g8neral purposes Yorkshlro Bulldlng Society An unrestrlcled grant for gener81 purposes 19-