**Charity registration number 1092828 (England and Wales)**
## **RED HOUSE YOUTH TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **RED HOUSE YOUTH TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees**
James Kearns Ray Hollands Michele O'Keefe Graham Tuttle Richard Butler DL Alison Moore Maxine Cable
**Charity number (England and Wales)**
1092828
**Independent examiner**
Argents Accountants Limited 15 Palace Street NORWICH Norfolk United Kingdom NR3 1RT
## **RED HOUSE YOUTH TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Chairman's statement|1|
|Trustees' report|2 - 4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 18|
## **RED HOUSE YOUTH TRUST**
## **CHAIRMAN'S STATEMENT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
I am again incredibly pleased to present on behalf of the board of trustees, the accounts and annual report for the year ending 31 March 2025.
The trustees continue to work hard on behalf of the trust and its beneficiaries to ensure that its money is well spent for and on behalf of the young people of Norfolk. It is pleasing to note, as recorded in the report and accounts, the range of charities and individuals who have been beneficiaries over the past twelve months.
We have continued our programme of publicity and encouraging trustees to visit successful groups. This last year more groups have been visited by individual trustees before a recommendation to fund takes place. This interaction with the beneficiaries is so helpful to the trustees in their decision-making process, as it is, indeed I think, to the beneficiaries so that they understand how the trust works and can better target their applications.
After much thought and consultation the trustees made the decision to sell the activity centre at Dunton due to falling numbers and the continuing increase in property maintenance. I am sad to report that in seeking the support of the Custodian Trustee ‘the NatWest Bank’ we have taken months to get them to action our request and indeed now a year later from our first contact we still have no result. This has held up the sale and is so very frustrating. This is in the hands of our lawyers, and we hope that we will be able to market the property in later 2025.
I place on record, again, my thanks to each trustee for the work they have undertaken. Last year we welcomed Ali Moore to the board of Trustees, she brings a range of experiences and skills to the trust. We will be seeking an additional trustee during 2025 to ensure the board is refreshed and up to date with the world of working with young people.
**Richard M Butler MBE DL** Chairman
4 September 2025
- 1 -
## **RED HOUSE YOUTH TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
## **Objectives and activities**
## **Policies and objectives**
The charity's objects are the advancement of education and training in the following order of priority:
i) beneficiaries in need of care and protection
ii) providers of care and protection for beneficiaries; and
iii) other beneficiaries
The trustees may assist beneficiaries by:
i) providing or paying for goods, services and facilities for them; or
ii) making grants of money to other persons or bodies which provide goods, services or facilities to beneficiaries The charity's beneficiaries are defined as children and young persons under the age of 21 resident in the County of Norfolk.
There has been no change in these during the year.
## **Grantmaking policies**
Red House Youth Projects makes available a range of grants to young people, youth organisations, youth groups and charities within the County of Norfolk.
Grants are considered four times a year in March, July, October and December under four main categories;-
## **Grants to Individual Young People or Groups of Young People**
Available to young people resident in Norfolk aged under 21. Grants would normally not exceed £2,500.
## **Grants to Youth Groups**
Available to bona fide youth groups and charities which have 60% of their members in the priority age range (being under 21). The main purpose of the youth group must be to deliver youth work/social education to this age group. Grants would not normally exceed £2,500.
## **Training Grants**
These grants are to support the training of adults in charities and voluntary organisations. Grants are awarded to cover the financial year 1 April - 31 March. A grant of up to 50% of costs up to £2,500 would normally be the maximum.
## **Support Grants to Organisations**
These grants are intended for improvement and development of charities and voluntary organisations and may be used for equipment, buildings and start-up grants.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## **Charitable activities**
The trustees have during the year undertaken to provide grants and assistance to many groups who fall within the trust's objectives. They have also hired out the premises that they own for the benefit of the youth and community groups from both within and external to the County of Norfolk. The year end results show a strong balance sheet and account for grants given.
The main achievements in the financial year are further described in the Chairman's Report.
- 2 -
## **RED HOUSE YOUTH TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Financial review**
## **Review of transactions and financial position**
There was a deficit for the year as expenditure was greater than income by £4,380 (2024: surplus £12,048). This is after accounting for a gain on the endowment fund investments revaluation of £1,336 (2024: gain £2,061).
## **Reserve Policy**
The trustees are satisfied with the year end financial position of the charity and that it will have adequate resources to meet its future plans and financial obligations.
At 31 March 2025, unrestricted reserves amounted to £185,334 (2023: £191,050). The trustees' policy is that the unrestricted funds not committed or invested in tangible fixed assets (the "free reserves") should be maintained at a sufficient level to enable the trust to generate income to carry out is objectives and to meet periodic capital expenditure and unforeseen contingencies. The level of reserves should be built up if possible to maintain the income investments to meet the demands of the applications.
## **Investment policy and objectives**
The charity's investment portfolio is managed by the charity's stockbrokers, Barratt and Cooke, who have been given full discretion in respect of the charity's investments within the specified guidelines of primarily requiring significant long-term growth and secondly, a stable return.
The Trustees regularly asses and review the risks to which the charity is exposed and ensure appropriate controls are in place to provide reasonable assurance these are mitigated as far as possible.
## **Structure, governance and management**
The trustees who served during the year and up to the date of signature of the financial statements were: James Kearns Ray Hollands Michele O'Keefe Graham Tuttle Richard Butler DL Alison Moore Maxine Cable
## **Recruitment and appointment of new trustees**
The trustees are appointed by the other serving trustees at a special meeting. Each appointment is for a term of four years.
Prior to inviting nominations for new trustees, the Board performs a review of the abilities and experience represented by the existing trustees.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
## **Organisational structure and decision making**
The trustees hold regular meetings to administer the affairs of the charity.
- 3 -
## **RED HOUSE YOUTH TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Funds**
The funds arise from the amalgamation of the Red House School Charitable Trust and Norfolk Youth Projects. The new charity was set up under the Scheme issued by the Charity Commissioners on 20 May 2002.
The trustees must first apply:
i) the charity's income; and
ii) if the trustees think fit, expendable endowment in meeting the proper costs of administering the charity and managing assets (including repair and insurance of its buildings)
After payment of these costs the trustees must apply the remaining income on furthering the objects of the charity.
The trustees may also apply expendable endowment for the objects of the charity.
The trustees' report was approved by the Board of Trustees.
Richard Butler DL
**Trustee**
4 September 2025
- 4 -
## **RED HOUSE YOUTH TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF RED HOUSE YOUTH TRUST**
I report to the trustees on my examination of the financial statements of Red House Youth Trust (the charity) for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Mark Johnstone (FCA)**
Argents Accountants Limited 15 Palace Street NORWICH Norfolk NR3 1RT United Kingdom
- 4 September 2025
- 5 -
## **RED HOUSE YOUTH TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Unrestricted Endowment**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Charitable activities
Residential property
activity
**3**
4,537
-
Grant making activity
**3**
40,000
-
Investments
**4**
9,770
-
**Total income**
54,307
-
**Expenditure on:**
Charitable activities
Residential property
activity
**5**
16,362
-
Grant making activity
**5**
43,661
-
**Total charitable**
**expenditure**
60,023
-
Net gains/(losses) on
investments
**12**
-
1,336
**Net movement in funds**
(5,716)
1,336
Fund balances at 1 April
2024
191,050
253,685
**Fund balances at 31**
**March 2025**
185,334
255,021|**Total**
**Unrestricted Endowment**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
4,537
4,426
-
40,000
63,000
-
9,770
9,754
-
54,307
77,180
-
16,362
29,085
-
43,661
38,108
-
60,023
67,193
-
1,336
-
2,061
(4,380)
9,987
2,061
444,735
181,063
251,624
440,355
191,050
253,685|**Total**
**2024**
**£**
4,426
63,000
9,754|
|---|---|---|
|||77,180|
|||29,085
38,108|
|||67,193|
|||2,061|
|||12,048
432,687|
|||444,735|
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 6 -
## **RED HOUSE YOUTH TRUST**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**14**
Investments
**15**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**16**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Endowment funds
**17**
Unrestricted funds
**18**|**2025**
**£**
17,360
(2,040)|**£**
170,014
255,021
425,035
15,320
440,355
255,021
185,334
440,335|**2024**
**£**
23,564
(2,935)|**£**
170,421
253,685|
|---|---|---|---|---|
|||||424,106
20,629|
|||||444,735|
|||||253,685
191,050|
|||||444,735|
The financial statements were approved by the trustees on 4 September 2025
Richard Butler DL **Trustee**
- 7 -
## **RED HOUSE YOUTH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **Charity information**
Red House Youth Trust is a unincorporated charity .
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
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 to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 8 -
## **RED HOUSE YOUTH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Residential property comprise the costs of running the freehold property owned by the charity.
Grants payable are charged in the year in which the offer is made, except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings not provided Improvements to property at varying rates on cost Computers 25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine 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 loss (if any).
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 9 -
## **RED HOUSE YOUTH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Charitable activities**
|**Residential**
**property activity**
**Grant making**
**activity**
**2025**
**2025**
**£**
**£**
Charitable rental income
4,537
-
Norfolk Community Foundation
-
40,000
4,537
40,000|**Total**
**2025**
**£**
4,537
40,000
44,537|Total
2024
£
4,426
63,000|
|---|---|---|
|||67,426|
- 10 -
## **RED HOUSE YOUTH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **4 Investments**
|Dividends on securities
**Expenditure on charitable activities**
**Residential**
**property**
**activity**
**Grant**
**making**
**activity**
**2025**
**2025**
**£**
**£**
**Direct costs**
Staff costs
4,255
6,856
Depreciation and
impairment
407
-
Repairs, maintenance
and warden
4,462
-
Electricity, rates and
insurance
3,482
-
Administration costs
1,716
4,074
14,322
10,930
Grant funding of activities
(see note 7)
-
32,731
**Share of support and governance costs (see note 8)**
Governance
2,040
-
16,362
43,661
**Analysis by fund**
Unrestricted funds
16,362
43,661|**Unrestricted**
Unrestricted
**funds**
funds
**2025**
2024
**£**
£
9,770
9,754
**Total**
**Residential**
**property**
**activity**
**Grant**
**making**
**activity**
**Total**
**2025**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
11,111
6,563
6,563
13,126
407
790
-
790
4,462
13,340
-
13,340
3,482
4,175
-
4,175
5,790
2,177
2,654
4,831
25,252
27,045
9,217
36,262
32,731
-
28,891
28,891
2,040
2,040
-
2,040
60,023
29,085
38,108
67,193
60,023
29,085
38,108
67,193|**Unrestricted**
Unrestricted
**funds**
funds
**2025**
2024
**£**
£
9,770
9,754
**Total**
**Residential**
**property**
**activity**
**Grant**
**making**
**activity**
**Total**
**2025**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
11,111
6,563
6,563
13,126
407
790
-
790
4,462
13,340
-
13,340
3,482
4,175
-
4,175
5,790
2,177
2,654
4,831
25,252
27,045
9,217
36,262
32,731
-
28,891
28,891
2,040
2,040
-
2,040
60,023
29,085
38,108
67,193
60,023
29,085
38,108
67,193|
|---|---|---|
|||**Total**
**2024**
**£**
13,126
790
13,340
4,175
4,831|
|||36,262
28,891
2,040|
|||67,193|
|||67,193|
## **5 Expenditure on charitable activities**
- 11 -
## **RED HOUSE YOUTH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **6 Description of charitable activities**
## Residential property activity
The charity allows the use of its property to various organisation in order to help achieve its charity objectives.
During the year the year the following organisations benefited from the use of the charity's properties;
20th Sheffield Scouts Scorpion Airsoft (7) Taverham High School (2) 46th Norwich Scout Group 3rd Hunstanton Brownies 1st Heacham Brownies 1st Gayton Brownies 2nd Mattishall Guides Mace Group The Well Church, Ingoldisthorpe Hastings Group
## Grant making activity
Activities to provide and make grants available to young people, youth organisations, youth groups and charities within the county of Norfolk to further the charities objective of the advancement of education and training (see trustees report for further details).
- 12 -
## **RED HOUSE YOUTH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **7 Grants payable**
|**Grant making**
**activity**
Grant
**2025**
**£**
Grants to institutions:
Playvan
-
The Garage
-
Great Yarmouth Song School
-
Wymondham Play Group
-
Wroughton Academy
-
Caister School
-
8th Norwich Sea Scouts
-
Mundesley Scouts
-
29th Norwich Scouts
-
Cromer Guides
1,000
East Norfolk Scouts
1,400
Dereham Baptist Church
-
Benjamin Foundation
-
Youth for Christ
2,600
Funky Feet
2,000
2nd Dereham Scouts
-
Outpost Youth Group
-
Sout Norfolk Scouts
-
North East Norfolk Scouts
-
Love Dereham
1,000
Home Start
-
North Deanes School
-
Heart to Heart
-
Smithdon High School
-
Pandora Project
-
Open Road West
-
1st Freethorpe Scouts
-
2nd Gorleston Scouts
-
Museum Broads
-
Norfolk and Norwich Scouts
-
St Edmunds
-
Community Action
-
Aspire
-
Girls Rugby
-
Kick start
-
Other
17,675
25,675
Grants to individuals
7,056
32,731|making
activity
2024
£
(4,000)
2,000
2,500
2,000
1,000
1,000
205
740
750
1,000
-
2,500
909
-
-
1,500
2,500
500
1,000
1,000
1,000
2,000
2,000
2,500
2,000
2,000
100
200
2,000
500
3,000
2,500
960
1,800
360
-
14,195
14,696
28,891|
|---|---|
- 13 -
## **RED HOUSE YOUTH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**8**
**Support costs allocated to activities**
Governance costs
**Analysed between:**
Residential property activity
**9**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets|**2025**
**£**
2,040
2,040
**2025**
**£**
407|**2024**
**£**
2,040|
|---|---|---|
|||2,040|
|||**2024**
**£**
790|
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **11 Employees**
The average monthly number of employees during the year was:
||**2025**|**2024**|
|---|---|---|
||**Number**|**Number**|
|Employees|2|2|
|**Employment costs**|**2025**|**2024**|
||**£**|**£**|
|Wages and salaries|11,111|13,126|
There were no employees whose annual remuneration was £60,000 or more.
- 14 -
## **RED HOUSE YOUTH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **12 Gains and losses on investments**
||**Endowment**|**Endowment**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
|Gains/(losses) arising on:|**£**|**£**|
|Revaluation of investments|1,336|2,061|
## **13 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **14 Tangible fixed assets**
|**Freehold land**
**and buildings**
**Improvements**
**to property**
**Computers**
**£**
**£**
**£**
**Cost**
At 1 April 2024
180,000
22,159
696
At 31 March 2025
180,000
22,159
696
**Depreciation and impairment**
At 1 April 2024
10,800
20,938
696
Depreciation charged in the year
-
407
-
At 31 March 2025
10,800
21,345
696
**Carrying amount**
At 31 March 2025
169,200
814
-
At 31 March 2024
169,200
1,221
-|**Total**
**£**
202,855|
|---|---|
||202,855|
||32,434
407|
||32,841|
||170,014|
||170,421|
## **15 Fixed asset investments**
||**Listed**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 1 April 2024|253,685|
|Revaluation in year|1,336|
||~~**___**~~**__**|
|**Carrying amount**|255,021|
|At 31 March 2025||
- 15 -
## **RED HOUSE YOUTH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **16 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Accruals and deferred income|2,040|2,935|
## **17 Endowment funds**
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
||**At 1 April**|**Gains and**|**At 31 March**|
|---|---|---|---|
||**2024**|**losses**|**2025**|
||**£**|**£**|**£**|
|**Permanent endowments**||||
||253,685|1,336|255,021|
|**Previous year:**|**At 1 April**|**Gains and**|**At 31 March**|
||**2023**|**losses**|**2024**|
||**£**|**£**|**£**|
|**Expendable endowments**||||
|Endowment fund|251,624|2,061|253,685|
## **18 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April**|**Incoming**|**Resources**|**At 31 March**|
|---|---|---|---|---|
||**2024**|**resources**|**expended**|**2025**|
||**£**|**£**|**£**|**£**|
|General funds|191,050|54,307|(60,023)|185,334|
|**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**At 31 March**|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|General funds|181,063|77,180|(67,193)|191,050|
- 16 -
## **RED HOUSE YOUTH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**19**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Endowment**
**funds**
**2025**
**2025**
**£**
**£**
Fund balances at 31
March 2025 are
represented by:
Tangible assets
170,014
-
Investments
255,021
-
Current assets/(liabilities)
15,320
-
440,355
-|**Total**
Unrestricted
funds
Endowment
funds
**2025**
2024
2024
**£**
£
£
170,014
170,421
-
255,021
-
253,685
15,320
20,629
-
440,355
191,050
253,685|Total
2024
£
170,421
253,685
20,629|
|---|---|---|
|||444,735|
## **20 Related party transactions**
## **Transactions with related parties**
During the year the charity entered into the following transactions with related parties:
One of the employees is the wife of Richard Butler, Trustee. The net salary paid to Mrs Butler for administrative work in the year was £5,674.
- 17 -
## **RED HOUSE YOUTH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **21 Norfolk Community Foundation (NCF)**
Starting in the year ended 31 March 2011 Red House Youth Project Trust has made periodic and ad-hoc annual transfers to the Norfolk Community Foundation (NCF) totalling £400,000 in order to maximise the funds available to carry out the charity's objectives. The NCF is an independent registered charity, that is part of a national movement of Community Foundations that manages funds for its donors. The NCF encourages charitable giving and connects donors with communities across Norfolk. Although Red House Youth Project Trust maintains some level of control over how the monies transferred are spent by NCF once the monies are paid over as donations they are no longer the charities money.
The value of funds held with the NCF, of which the Red House Youth Project Trust are donors, as at 31 March 2025 is as follows:
|**£**
**Norfolk Community Foundation Fund Investments:**
Market value at 1 April 2024
Transfer from Baratt & Cooke cash account
Additions
Interest
Drawdown to revenue account
Revaluations
Closing balance at 31 March 2025
**Cash at bank:**
Revenue account
First Community revenue fund
**Total funds held by Norfolk Communuty Foundation at 31 March 2025**|666,709
-
-
2,962
(25,000)
(1,950)
642,721
175
-
**642,896**|
|---|---|
The above figures are not included within The Red House Youth Project Trusts balance sheet. Transfers to the NCF have currently been suspended and as a result there were no transfers of funds by way of resources expended to the NCF in the year ended 31 March 2025.
- 18 -