ACTES TRUST COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 31 March 2025 Company Number . 04345294 Registered Charity Number . 1122223
ACTES TRUST COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 CONTENTS PAGE The Trustees, report 3-19 Independent auditor's report to the members 20-24 Statement of Financial Activities 25 Balance sheet 26-27 Statement of Cash Flows 28 Notes to the financial statemenls 2941
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORT YEAR ENDED 31 March 2025 The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31, March 2025. Reference and administrative details Registered Company Number.. 04345294 Registered Charity Number.. 1122223 Registered Office 99 Acklam Road Acklam Middlesbrough TS5 SHR Senior Management Team Chief Executive., Deputy Chief Executive.. Paul Wales Anne Davies Details of the Board of Trustees are set out below. The Trustees are also known as directors of Actes Trusl for the purposes of company law. Name Role Date Elected 25.01.2007 17.11.2008 04.02.2020 09.11.2021 22.09.2025 Date Resi ned Geoff Payne Sharon Stuttard Helen Dudiak Michael Barber Elaine Corbyn Chair from 05.02.19
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORT(continuedJ YEAR ENDED 31 March 2025 Auditors Anderson Barrowcliff Limited 3 Kingfisher Court Bowesfield Park Stockton-on-Tees TS18 3EX Bankers National Westminster Bank PLC 250 Bishopsgate London EC2M 4A4 Solicitors.. Womble Bond Dickinson The Spark Draymans Way Newcastle Helix Newcastle Upon Tyne NE4 5DE Investment Bankers: Cazenove Capital 1 London Wall Place London EC2Y SAU
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORT(¢ontinued) YEAR ENDED 31 March 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Introduction from the Chair During 2024125 the funding landscape remained challenging, extremely competitive with limited opportunities and the Charity ended the year showing a loss. We continue to review staffing levels to ensure Actes Trust is efficient and effective in its delivery of its charitable cornmunity-based services and activities. During the year we took positive action to address challenges within the charity and in August 2024 we finalised a 5-year lease agreement for the Resource Centre to the KFC Youth Foundation. This agreement means that the facilities will concentrate on delivering support services and opportunities for young people of Middlesbrough (this is the KFC Youth Foundation's first youth hub nationally), with Actes Trust receiving a rental stream and retaining elements of service such as caretaking and grounds maintenance. We also refreshed and renewed our website. This now gives a more comprehensive view of our current and past delivery, achievements and performance and it also features a timeline of the organisation. In addition, we rebranded with a new logo which is more reflective of the organisation's purpose, and we now use our full title Actes Trust. The Charity facilities continued to provide high quality rental space, supporting a local secondary school, special educational needs college, local businesses, sports, and community related activities. Room bookings and usage at both centres has increased from last year and we annually review our prices resulting in an increase of income and each centres reputation continues to grow. As we now lease the Resource Centre, we relocated the IT suite to the Acklam Green Centre ensuring that much needed services and support for our beneficiaries remained in place. Building on the completion of the refurbishment of its 3G artificial sports pitch, this year stage concentrated on developing a business case and application to the Football Foundation to replace the old floodlights with new efficient and environmentally friendly L.E.D ones. Which we now know has been successful. This year we progressed with the disposal of all but one of Actes Trust housing stock. Our approach was professional and sensitive ensuring our tenants were kept updated and informed through each stage and ultimately remained as tenants which we achieved. All proceeds will be reinvested so there is a continued income stream to support core activities. While the financial aspect of the business is still difficult, the Charity has continued to grow its reputation, developing new and maintaining existing partnerships. This year Actes Trust strengthened its involvement in Middlesbrough Youth Mutual under its Better Together initiative and were successful in being the lead partner for a National Lottery funded programme and a delivery partner in another. This will result in working in areas of high poverty in Middlesbrough providing support and advocacy to young people in relation to employment, education and training.
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES. REPORT{contlnuedJ YEAR ENDED 31 March 2025 Following the riots in Middlesbrough during 2024, we have been a voluntary anchor organisation chairing established groups bringing together funding and support for organisations working with young people to support with the healing of the town. Ensuring we deliver quality provision to our beneficiaries is extremely important to Actes Trust we do this through having two key quality standards. The Customer Service Excellence Standard was maintained with additional compliance plus areas. The Matrix Standard assessment resulted in extremely positive feedback from the assessor, and all of the criteria were met, this was achieved through an evidenced based work review, excellent comments from the people we support and the partners we work with. We have continued to support those furthest from the labour market, those that have complex and multiple barriers, alongside our accredited and non-accredited training programmes, gaining some funding from the Tees Vally Combined Authority and Middlesbrough Council to support this work. This year we extended our work club provision being able to help more people needing assistance and move closer to training and employment. Actes Trust client support services continue to provide direct support to beneficiaries, and we deliver this through outreach, location-based provision, diverse communities, young people, and schools. The Charity remains focused on supporting clients in achieving their goals. In ensuring that beneficiaries are not disadvantaged and the board authorised the use of the resenies to provide continued support. During this year the trustees remain focused, taking bold decisions, reviewing progress against plans and approving the charities annual and three-year business plan. This year we ensured that environmental improvements became a priority within the organisation and were practically implemented. I would like to thank the board of trustees for their continued commitment, their time and support during the year and on behalf of them all I would like to thank the staff team for their dedication and hard work to ensure our continued development and growth and for their professionalism through continued challenging times, ensuring that the beneficiaries of the Charity continue to receive our support. Geoff Payne - Chalrman of the Board Structure, Governance and Management Actes Trust is a company limited by guarantee governed by a Board of Trustees and its Memorandum and Articles of Association dated 24th December 2001 and amended 10" September 2010 and 17th September 2012. It is a registered charity with the Charity Commission. The Board of Trustees are appointed by its members. The Board of Trustees: Sets and reviews the policies of the charity., Is involved in determining the corporate strategy of Actes Trust, including setting key strategic objectives", Approves the financial strategy for the organisation and authorises major decisions about the use of finances., Approves the annual and strategic delivery plan for Actes Trust activities:
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORT(continued) YEAR ENDED 31 March 2025 Internal Controls and Risk Management Systerns and procedures have beers established to identify, monitor and manage the risks that Actes Trust faces. Strategic decisions taken by the Trustees include full consideration of risk based on a risk assessment register reviewed quarterly. One of the major risks for Actes Trust is the reduction in funding opportunities at this time and the inability to fully cover overhead expenditure within grants. In managing this risk, Actes Trust continually reviews its operating model to ensure expenditure is under control and within budgetary limits. In addition, Actes Trust continually reviews its staffing structure to ensure it is not only fit for purpose but also efficient, effective and affordable. This will be an on-going process for the charity to ensure long term sustainability. Recrultment and Training of Trustees Trustees are recruited in line with the terms laid down in the Articles of Association. Trustees serve for an initial term of 4 years after which they can be re-appointed for a further 2 years at any periodic board meeting. There is no limit to the number of 2 year terms that a trustee can serve. Individuals wishing to be considered for the role of Trustee are required to submit an application to the Chair of the Board who will short-list suitable applicants on the basis of relevant skills and experience, prior to an election process. Following their appointment Trustees are issued with a Trustee Handbook at an induction meeting to update them on the current strategic issues facing the org8nis8tion. Organisational Structure & Decision Maklng Responsibility for the day to day management of Actes Trust and the implementation of B08rd decisions and policy is delegated to Actes Trust Chief Executive, with the support of Deputy Chief Executive, Team Leaders and all other staff. The Board meets a minimum of 4 times per year and at least one Business Development session. Settlng Pay and Remuneratlon The Board are responsible for setting the remuneration of the Chief Executive Officer and the Deputy Chief Executive Officer. The Board take into account similar roles in comparative organisalions in determining the salary levels and seek external advice. The Chief Executive officer is responsible for setting the remuneration level for all other staff again benchmarking against similar roles within comparative organisations and taking into account any national changes. Related Parties None of the trustees receive remuneration or any other benefit from their work with the charity. Any connection beeen a trustee or a senior manager of the charity with an Actes Trust service user or organisation that supplies goods or services to Actes Trust must be disclosed to the board of trustees in the same way any other contractual relationship with a related party. In the current year no such related part transactions were reported at any of the board meeting5. Fundraising Actes Trust does not carry out any significant fundraising activities.
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORT(continuedJ YEAR ENDED 31 March 2025 Objectives & Activities Actes Trust was established for the promotion for the public benefit of urban and rural regeneration in areas of social and economic deprivation. Actes Trust exists to improve the lives of the communities it serves. It achieves this by providing tailored services to meet the needs of individuals, often with complex or multiple needs, and by the provision of high-quality business and social spaces and lettable accommodation. Actes Trust aims to inspire individuals to realise their full potential through supportive engagement and innovative solutions to achieve change. It has adopted a person-centred approach to service delivery involving coaching, information advice and guidance, accredited and non-accredited training and workshops. It has a solid asset base including business and community premises and a small housing portfolio. Actes Trust is continuing to develop its services in supporting with reducing reoffending and working with those clients who have chaotic lifestyles. Actes strength lies in working with the client to help them progress towards their aims and goals, be that education, training, employment, or a more stable lifestyle. We operate a peer led service to further enhance the support offered to clients. In delivering its objectives, Actes seeks to address a range of broad social issues through an extensive delivery programme which will enable individuals to contribute to society in a positive way. Established as a Charity in 2008, Actes operates mainly within the Tees Valley. Actes Trust will meet these objectives by all or any of the following means- a) the relief of poverty., b) the relief of unemployment., c) the advancement of education, training or re-training, particularly among unemployed people, and assisting in the provision for unemployed people of work experience; d) the provision of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help.. l. to existing businesses,. or 11. in setting up new businesses. e) the creation of training and employment opportunities by the provision of work-space, buildings andlor land., fj the provision of housing for those who are in conditions of need and the improvement of housing provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or improve housing., g) the maintenance, improvement or provision of public amenities.
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORT(continued) YEAR ENDED 31 March 2025 Objectives & Activltles (continued) h) the provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances, have need of such facilities., i) the protection or conservation of the environment; j) the provision of public health facilities and childcare., k) the promotion of public safety and the prevention of crime. The progress towards achievement of the Charity's aims and objectives is monitored quarterly by the Board of Trustees and any corrective action required due to slippage against timescales is documented. The board review the organisation's position both financially and operationally at every meeting and all company policies are reviewed by the board periodically. The Articles of Association are reviewed periodically to ensure that recent legislation is incorporated where required. When reviewing the objectives and activities of the Charity the Board of Trustees have referred to Charity Commission general guidance on Public Benefit and is satisfied that the Charity meets Public benefit requirements. Achievements and Performance Climate Action Middlesbrou Climate Action Middlesbrough (CAM) aims to facilitate reductions in Middlesbrough's carbon footprint and encourage a change towards more sustainable lifestyles. Our aims and objectives To facilitate reductions in Middlesbrough's carbon footprint. To create a well-informed social movement supportive of tackling the climate crisis, through the combination of education, awareness-raising, increased involvement and connectedness and delivery of practical projects. To create a community - led movement for social change towards a sustainable environment. To enable communities to have a voice on addressing the changing climate. The project is led by Middlesbrough Environment City (MEC) with a range of partners, Linx, Tees Valley Wildlife Trust, The Other Perspective (TOP) and Actes Trust. Actes Trust lead on youth engagement as well as wider community engagement including training. Some highlights during this financial year: Youn erson en ement and activities 24125.. Established Climate Action Clubs (after school) to several primary schools delivering 10-week sessions covering various topics - such as Fast Fashion, Biodiversity & Habit. Plastics, Yours & Your Family's Carbon Footprint and Recycling. Delivered various workshops to young people through the Holiday Activity Fund. Engaged with 712 young people around CAM. 429 CAM questionaries completed by young people and analysed for awareness campaigns. Engaged with 7 Schools and 1 College.
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORTfcontinued) YEAR ENDED 31 March 2025 Achievements and Performance (continued) In addition, the CAM Team attended and delivered sessions at the Headstart Conference, Askam Bryan College, various networking events, a Fun Day, litter picks across Middlesbrough and took part in Clean Beaches week and The Great Big Green week. In February 2025, Actes Trust staff members were extremely honoured to meet the King and Queen at the re-opening of the International Centre in Middlesbrough. Actes Trust were kindly invited to the event to promote the Climate Action Middlesbrough project and were there in attendance alongside pupils and staff from Archibald Primary School. The CAM team gave an overview of project's environmental work in Middlesbrough and introduced the King and Queen to some children from our Archibald Primary School Climate Action Club. The King loved the children's handmade card, was amused by their upcycled toilet tube Royals, and thought our smoothie bike was fantastic. Wider Communit En ements This year we continued with our'Don't Waste It, Wear It, programme. We requested people to donate their unwanted clothes, and we cleaned, sized and went out to various community hubs across the town and people were able to take the clothes they needed. This not only supported people in hardshiplpoverty, it also prevented the clothes from going to land fill, reducing carbon emissions. Engagement with the communities and community organisations continued spreading awareness of the recycling process and its importance as well as other climate action topics. We supported the establishment and the delivery of eco-shops as well as regular litter picking and education sessions across Middlesbrough resulting in an increase in recycling and delivery of information sessions. Beneficiaries taking part in our project activities Volunteers that have taken part in your project 230 30 Mlddlesbrou h Financial Inclusion Grou FIG Actes Trust continue to be a key partner and co-chair of long-established FIG. The FIG consists of around 43 partnering organisations and plays a vital role in ensuring the financial concerns for residents are addressed through timely joined up working. One of the main responsibilities of FIG is to ensure those residents who are the most vulnerable are identified and assisted through a wide range of support from both the Council and partner organisations. The purpose of the group through collaborative and responsive engagement is to identify currenvpotential financial issues which may affect the residents of Middlesbrough. This year we have looked at.. DWP and the migration of claimants moving from tax credits to Universal Credit Food Power Alliance Roll out of the Household Support Fund (HSF) 2024125 Agreeing some overarching themes for FIG 10
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORT(continued) YEAR ENDED 31 March 2025 Achievements and Performance (contlnued) Middlesbrou h Youth Mutual - Strate The Middlesbrough Youth Mutual (MYM) has been running since 2021 and was developed by the Lead Partners with support from the National Lottery funded North-East Youth Alliance which was established to support the development and sustainability of the people and organisations working to improve the lives of young people across the region in 2020. Alongside Youth Focus North-East (lead partner), The Junction Foundation and Linx Youth Project, Actes Trust played a key role in the implementation of the Middlesbrough Youth Mutual (MYM) Strategy as the project secured National Lottery funding in the region of £420,000. The MYM is fundamentally about people coming together to share knowledge, resource experience to deliver better services together. Actes Trust wanted to encourage collaboration for the mutual benefit of organisations and communities it serves and to improve outcomes for young people. People are at the heart of our work and positive relationships and honest communications are key to its success. The MYM strategic priorities have been identified by hearing from young people and the organisations that serve them. So far. we have achieved: The Chief Executive Officer (CEO) has continued to work with the lead MYM partners to ensure implementation of the strategy The CEO has worked with MYM partners to develop successful funding applications of which Actes Trust took the lead on one and are a partner in another and in March 2025 were informed that we had secured £440,000 to implement the Better Together FutureslFoundations programmes, that will work with young people between 14-19 years old to provide careers advicelenrichment and support young people into employment, education or training. The wider work including the other MYM partners and Education Trust meant that in total £1.4m has been secured against the target for additional funding within the MYM Strategy was £100k. Developed and started to implement an agreed communications plan Carried out engagement and research with young people around social media and set up Facebook, Instagram and promoted to Young People and Organisations. Engaged with new organisations and promoted MYM Engaged with young people in Youth Clubs and Youth settings Your Mone &You We delivered this course as part of the Governments numeracy initiative, and it was funded through the Tees Valley lead for the UK Shared Prosperity Fund (UKSPF) Multiply Programme- Tees Valley. The course was IT for beginners, an introduction to computers and using email and internet, money management, benefits check and signposting to further education or employment. During this year 27 completed the course. Prior to its completion, the funder completed an unannounced visit and observation of the course and an Ofsted grade assessment of the Tutor. They were very happy with the course and spoke to learners to get some feedback from them as to if they were enjoying the course and the tutor. On completion the tutor received a grading of 'GOOD' as per Ofsted grading. As for the course content, lesson plans and scheme of work, these were all strong and met requirements.
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORT(continuedJ YEAR ENDED 31 March 2025 Achievements and Performance (continued) Work Clubs Actes Trust established 'work club,, has extended its provision and now operates two days a week. We have healthy flow of referrals particularly from DWP which provide positive feedback about our seniices. The work clubs provide the following support to residents accessing this service.. Access to IT suite with support Support in job search Development of a Cv's AcsS to IAG Signposting to wider support The provision part funded by Middlesbrough Council with all contract targets met and exceeded. Pro ress and the number of eo le benefittin from the work club All attendees are signposted to training or gaining employment with a new updated CV (hard copy and electronic). 316 clients have been referred to the Work Club, of which 188 have attended 12-week follow-on to achieve an outcome starting from 1010112025 (all clients have been contacted), with.. Progress into employmenvtrainingleducation 140 In terms of employment people have moved into roles such as Data Installation, Care Sector, Mechanic, NHS, Warehousing, Retail, Food Production and Teaching Assistants. In terms of training courses people have move on to MathslEnglish, ESOL, Cleaning, Healthcare as well as Actes Trust's Intro to IT. This equates to 740/0 of the people we have supported moving into a positive destination. Past Present & Your Future This course is aimed at ex-offenders to provide them with a better understanding of their offences along with how and what they should disclose to potential employers. It also includes working with the clients to assist them moving forward into further training or employment. We receive referrals from Middlesbrough, Stockton and some from Redcar & Cleveland. Funding for delivery was secured through National Lottery Awards for All for this established programme. The programme achieved the following: Number of referrals Number attended Completed Progress into employmenutrainingleducation 70 25 25 21 This equates to 84./0 of the people we have supported moving into a positive destination. 12
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORT{continuedJ YEAR ENDED 31 March 2025 Achievements and Performance (continued) Work IT Out 2 This was part of the Multiply programme funded through Hartlepool Council. This new course is for referrals from DWP and other agencies for clients to get a new or update CV, complete a Work Skills & Numeracy Assessment along with IAG receive on job search, interviews and how to do a better off calculation based on future employment. Number of referrals Number attended Completed Progress into employmenutrainingleducation 130 130 130 85 This equates to 65 /0 of the people we have supported moving into a positive destination. Unlock Your Potential This was a two-day confidence building and motivational course funded by Middlesbrough Community Learning (MCL). Number of referrals Number attended Completed 19 Due to the low take up we agreed with the funder and implemented a new course on the same contract that would start in the next financial year. Facllltles The facilities business unit comprises the Acklam Green Centre, the Resource Centre, and the rentable properties. At the beginning of 2024125 a pricing review was carried out across the sites to ensure the centres remained competitive and to cover the increase in costs. Activity increased at the Acklam Green Centre during the year, and the top floor became exclusive to Transition College. Activity at the Resource Centre was less stable in the first few months of the year and taking this into account a five-year lease was agreed with the KFC Youth Foundation for the Resource Centre who now have exclusive use. Overall, the two centres achieved generated income from external sources of £428k and internal sources £23k. The rental properties brought in £28k which was less than previous year's but seven of them were sold during the year, so this was expected.
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORT(continued) YEAR ENDED 31 March 2025 Flnancial Review In the financial year ended 31. March 2025, total income was £665,623 (2024 £681,947). Total expenditure for the financial year was £960,701 (2024 £933,069). The principal funding sources of income to Actes Trust during the year were provision of recreational facilities, room hire and catering income of £428,075, investment and rental income of £88,702 and client led services grants of £143,176. The financial year 2024125 has been challenging overall, but although there were difficulties the charity also saw some positives. After a period of reduced activity at the Resource Centre, the trustees approved a five-year lease on the whole site to the KFC Youth Foundation, whilst retaining the Site Facilities Workers to assist them and the building's needs. Although this initiated additional costs such as replacing the boiler and transferring the IT suite to our other Facility to ensure continued delivery of Actes Trust adult courses, it should bring in much better returns in future years. Despite this the facilities business unit performed well during the year with income up by 100/0 which is comparable with previous years. The sale of seven investment properties was achieved during the year. Unfortunately, the market sale value was lower than the last valuation, but the majority of the proceeds were re-invested into the Multi-charity Fund we hold with Cazenove to ensure the charity still gains future returns. Another challenge the charity faced was the increase to the National Minimum Wage rate of nearly 10 %, this impacted on other roles at the next level and the charity carried out a benchmarking exercise to ensure that staff were paid in line with sector averages on a local level. Grant income fell again as funds for previously ended projects could not be replaced. New funding streams continued to be difficult to access due to increased competitiveness. However, the work with Middlesbrough Youth Mutual partnership started to pay off as the National Lottery Community Fund agreed to support implementing a youth strategy across Middlesbrough and funding was secured in the first half of the year. Part of the work for the strategy was to bring in additional funding and in the final month of the year the partners along with an external education charity secured another £1.4m across four projects of which Actes Trust is the lead for one. The charity continued to be part of the final Multiply contract as part of the UK Prosperity Fund along with delivering training funded by the local council. Working alongside the local university the charity was successful in securing a fully funded intern to support research and completing consultations with community groups to support funding bids. Investments continued to be volatile throughout the year, but income received was on target at 4 %. The operating deficit for the year was £295,078 which was an increase of 17010 compared with 2023-24. There was a decrease in the market value of the multi charity investment of £20,562 as at the year end and the loss on the sale of the investment properties of £56,915. Therefore, total reserves have reduced by £372,555. The overall financial position remains strong with a mix of unrestricted reserves and capital assets. 14
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES. REPORT(continued) YEAR ENDED 31 March 2025 Reserves Policy Due to the changes in income streams and the higher levels of risk that the charity now faces Actes Trust have set the minimum level of reserves to £600,000. This is significantly less than the current level of unrestricted reserves which will reduce over the next 3 to 5 years as Actes Trust continues to work towards sustainability. Reserves will be used to continue the furtherance of the charity's objectives during times when the funding streams of the charity are not rtain or when the income levels fall significantly. At the 31" March 2025, total reserves held were £3,864,516 (2024 £4,234,071). Of this amount £1,756,551 (2024 £1,884,028) was restricted capital funds. The balance of unrestricted reserves £2,107,965 (2024 £2,353,043) comprise of designated funds of £230,698 (2024 £272,000), free reserves of £1,463,531 (2024 £1,105,453) which includes the revaluation reseNe £42,999 <2024 £244,850), and £413,736 (2024 £975,590) relating to fixed assets. Investments The charity's investment policy requires the board to consider whether any reserves held are freely available to invest in areas that will create a return to assist with the furtherance of the charity's objectives. The board considers the suitability and diversification of any potential investments to ensure that the failure of one investment or institution does not have a major impact on the charity. The market value of the investment in shares is reflected in the charity's annual accounts with any movement recorded in the revaluation reserve. The board seeks professional advice when considering selecting or disposing of investments where they do not have the expertise to do so themselves. Any one investment should not represent more than 20 % of the overall value of the Investment Funds, or 50 % in the case of collective funds. A balanced approach beteen income and capital is adopted. The charity's investment objectives are to maintain the capital value of the investment fund at least in line with inflation, with a profile of no higher than a medium risk. The term of the investment is viewed by the board as being on a medium to long term basis, but if required the investment will be easily accessible to pay for the annual expenses of managing the charity if needed. The board requires that the funds will not have any direct exposure to tobacco related investments. The board receive an update from the investment manager reviewing its performance on a quarterly basis and in addition to this rf there is major market change. During 2024-25 the charity made withdrawals from the investment totalling £52,589. This was used to fund some major renewals at both centres in relation to heating systems costing £15,000, the relocation of the IT Suite to Acklam Green Centre costing £4,000 and the balance to assist with cashflow. There were also 2 deposits made during the year taken from the proceeds of the sale of the investment properties after costs of £419,000. After taking this into account the performance of the investments in 2024-25 has seen a decrease in the funds market value of £20,562. The year-end position is £1.45m. The income received during the year was £46,509 which has been used to further the charity's overall objectives.
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES. REPORT(continued) YEAR ENDED 31 March 2025 Key Risk and Uncertainties The board recognise that the charity operates in an area which has a degree of uncertainty. Nationally, welfare reform, and the contraction of public services and budgets continue to have a major impact on the way that the charity operates. The implementation ofthe Prosperity Fund which replaced European funding was significantly less and has impacted on the charity's key delivery of services, due to the reduced opportunities. As former public seNices are contracted out, they are commissioned in such a way that staff, TUPE obligations and delivery risks are transferred to potential suppliers. This is combined with the requirement for potential suppliers to demonstrate a strong track record in service areas and to meet high financial thresholds to pass contract eligibility criteria. This has presented barriers for market entry into new areas. Actes Trusts approach to overcoming this is to develop and renew strategic partnerships or consortiums to pool experience and resources, and by doing so, be able to access alternative funding opportunities and other contracts. Plans for the Future Actes Trust has agreed the following Strategic Objectives to be achieved by March 2028. 1. Actes Trust will be a sustainable and thriving charitable company by delivering services within the Tees Valley area. 2. Actes Trust will build its reputation, brand and relationships with new clients and customers to expand its range of services that adds value to its core deliverables. 3. Actes Trust aims to be recognised for providing high quality, best value seNices and facilities to meet its stakeholder needs. 4. To be an employer of choice evidenced by a commitment to continuous staff development, increased employee motivation, well-being and retention. 5. Actes Trust will ensure its data processing, storage and technology keeps in line with current digital transformation to remain competitive within the sector. 6. Actes Trust will reduce its carbon footprint to recognise and reduce the impact of climate change. Achieving these objectives will be our key to long term sustainability and success. The Board however recognise that the effects of the availability and competitiveness of funding is likely to have an impact on these timescales. The annual business plan which sets out how these objectives will be achieved is reviewed mid and full term by the board. Actes Trust continues to explore grant and partnership opportunities and tender for funding to facilitate change. It has developed strong working relationships with a wide range of partners including DWP, local authorities, Public Health, The National Lottery Community Fund, Universities and Colleges, and other charitable and voluntary organisations and will continue to explore new beneficial relationships. During 2024125 Actes Trust continued to explore new connections and to position itself with other strategic partners through key groups such as Middlesbrough's Children's Trust, Middlesbrough's Young Persons Health and Wellbeing Board, Middlesbrough's Financial Inclusion Group, Catalyst Stockton, Borderlands and Stockton Climate Action Neork. Actes Trust has a range of accredited and non-accredited programmes, focussed on specific needs, or required areas of support. We continue to concentrate on exploring access to DWP'S and other government bodies various portals with the access funding available to be able to deliver these programmes.
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORTfcontinued) YEAR ENDED 31 March 2025 Plans for the Future {continued) Building upon its strengths Actes Trust has established its business model to encompass three key areas of activity which it has classified into independent Business Units. These Units are- 1. Client Led Services- which consolidates the delivery of coaching, information, advice and guidance, training, support and case management services to young people and adults. Funded through a mix of grant support and fee income, services in this Unit will change over time in response to social needs. 2. Facilities- which comprises the Acklam Green Centre, Resource Centre, and currently 1 lettable house in the western corridor of Middlesbrough, funded through room and space hire, catering and events, longlshort-term leases and rental income. 3. Management and Administration,. this Unit includes all governance and management systems, core organisational functions, and all activities in relation to 99 Acklam Road. It is funded by income from the Facilities and Client Led Services business units and reserves. Structuring the business in this way enables similar activities to be grouped together. This enables efficiencies to be introduced throughout the charity by the adoption of common and consistent practices. Our ambitions for these Units are that by March 2028.. 1. Client led services will continue to develop in response to social priorities, opportunities and client needs and deliver to a high standard in appropriate settings. Developing robust partnerships across the sectors. 2. Our facilities, Acklam Green Centre and Resource Centre, will be sustainable independently and collectively, returning operational surpluses to be reinvested into our charitable objectives delivered through our client led services, and the disposal of the remaining house is complete. 3. Our management and administration costs will be streamlined and fully recoverable through the preceding business units. 4. Our staff are well trained and competent to deliver across all business units. Collectively, these ambitions complement the strategic objectives for the charity and achieving these will enable our strategic objectives to be met. To measure our progress towards achieving these we have introduced a series of Key Performance Indicators (KPIS) across each Unit to demonstrate how progress is being made. The methods we will employ to achieve these objectives will be described in further detail in the annual Business Plan. 17
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES, REPORT(continued) YEAR ENDED 31 March 2025 Trustees, Responsibilities The trustees (who are also directors of the Trust for the purposes of company law) are responsible for preparing the Trustees, Report and the financial staternents in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP 2019 (FRS102); make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed 8nd explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
ACTES TRUST COMPANY LIMITED BY GUARANTEE THE TRUSTEES. REPORT(¢ontlnugd) YEAR ENDED 31 March 2025 ststement of disclosure of Information to audltors We, the directors of the company who held office at the date of approval of these Financial Statements, as set out above, each confirm so far as we are aware, that.. there is no relevant audit information of which the company's auditors are unaware., and we have taken all the steps that we ought to have taken as directors in order to make ourselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. This report has been prepared having taken advantage of the small companies exemption in the companies act 2006. Registered office: Signed by order of the trustees 99 Acklam Road Middlesbrough TS5 SHR Geoff Payne Chair of the Board of Trustees Approved by the trustees on 24th November 2025
ACTES TRUST COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACTES TRUST YEAR ENDED 31 March 2025 Opinion We have audited the financial statements of Actes Trust (the 'charitable company,) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report 20
ACTES TRUST COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACTES TRUST (contlnued) YEAR ENDED 31 March 2025 Other Information The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on whlch we are required to report by exceptlon We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements., or the charitable company has not kept adequate accounting records. or the financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. 21
ACTES TRUST COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACTES TRUST (¢onllnued) FOR THE YEAR ENDED 31ST MARCH 2025 Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our responslbilities for the audit of the flnanclal statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee Ihat an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Based on our understanding of the charity, we have considered applicable laws and regulations which may be fundamental to the charity's ability to operate or to avoid a material penalty, and we considered the extent to which non-compliance might have a material effect on the financial statements. We considered management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate manual journal entries to manipulate financial performance, management bias in significant accounting estimates and any significant one-off or unusual transactions. We discussed among the audit engagement team the opportunrties and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements. 22
ACTES TRUST COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACTES TRUST {¢ofttinued) FOR THE YEAR ENDED 31ST MARCH 2025 Auditors. responsibilities for the audit of the financial statements (continued Audit procedures performed by the engagement team included.. Enquiry of management and those charged with governance around actual and potential litigation and claims. Enquiry of entity staff to identify any instances of non-compliance with laws and regulations. Reviewing minutes of meetings of those charged with governance. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. Challenging estimates and judgements made by management in their significant accounting estimates. Revenue recognition; agreeing a sample of revenue transactions to gain assurance over the occurrence and accuracy of revenue and also to ensure revenue has been recognised in the correct period. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 23
ACTES TRUST COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACTES TRUST (conlinued) FOR THE YEAR ENDED 31ST MARCH 2025 Use of our report This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for th opinions we have formed. for and on behalf of Anderson Barrowcliff Limited Statutory Auditors Chartered Accountants Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 3 Kingfisher Court Bowesfield Park Stockton on Tees TS18 3EX Date.. l)b 24
ACTES TRUST COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST MARCH 2025 Unre$tlcted Restricted Funds Funds Capital Funds Total 2025 Totsl 2024 Income from: Donations and legacles Donations 53 Income from Charltable a¢tlvltles Grants reCeId Income from other tradlng actItI88 Lty'mties for generab'ng funds Income from Investments Interest receiwdble and similar inGom8 Rental incom& 143,176 143,176 166.735 2b 406,200 406,200 404.563 60,304 50,273 60.304 50.273 65,813 40,952 Other Incomè Other Income 5,665 5.665 3,831 Total Inco 522,447 143,176 666,623 681,947 Expenditure: Expendlture on Ralslng funds Exp8ndlture on Invèstmont Management Expendlture on Charltablfr Actlvltle8 395.679 12.386 281.490 395,679 373,658 12,386 15,097 552,636 544,314 143,176 127,970 Total expenditure 689,555 143,176 127,970 960,701 933,069 Net gainsl{lossesl on Investments Net gainsl{lossesl on Investment proportles Net Incon1{eXpenditure) 12 120.5621 56.915 1244.5851 120.5621 62,457 56,915 117,000 1127.970) (372,5551 1305.6651 12 Transfor Between Funds 12.14 14931 493 Net movement in funds 1245,0781 1127,477) (372,555} 1305,6651 Re¢onclllatlon of funds: Balance al 1" ¥11 2024 2.353.043 1,884,028 4,237,071 4,542,736 Balance al 31 March 2025 2.107,965 1.756,551 3,864,516 4.237,071 The notes on pages 29 10 41 fom part of these accounts. 25
ACTES TRUST COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31 March 2025 Note 2025 2024 Fixed Assets Tangible assets Investment Propety Investment - Schroders 1.871,954 298,333 1,446,443 3,616.730 2,246,618 613,000 1,100,594 3,960.212 Total Flxed Assets Current Assets Debtors Cash al bank and in hand 36.351 340,598 376,949 33,211 326,589 359,800 Total Current Assets Llabilltles Creditors falling due within one year 10 {129.1631 182.9411 Net ¢urr8nt assets 247,786 276,859 Net Assets 3,864,516 4,237,071 The funds of the charlty: Unrestrlcted Incorne funds General Funds 12 1,834,268 230,698 42,999 2,107,965 1,836,193 272,OiXJ 244,850 2,353,043 Designated Funds Revaluation Reserve 12 12 Totsl Unrestricted Funds Restrlcted Income Funds 13 Restricted Capital Funds 14 1,758,551 1,884,028 Total Charlty funds 3,864,516 4,237,071 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements. The notes on pages 2910 41 form part of these accounts. 26
ACTES TRUST COMPANY LIMITED BY GUARANTEE BALANCE SHEET (¢onllnued) AS AT 31 March 2025 The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otheiSe comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. {b) These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 24 November 2025 and were signed on its behalf by: Geoff Payne- Trustee Sharon Stuttard - Trustee Company Number- 04345294 The notes on pages 29 10 41 form part of thèse accounts. 27
ACTES TRUST COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS YEAR ENDED 31 March 2025 Note 2025 2024 Ca$h flows from operallng activities; Net cash provlded by (used In) operatlng actlvltles 18 (218,7831 (228,709) Cash flows from investing actlvitles: Dimdends, Interest and rents from instMents proed5 from the sale of inveslmentpropety Purchase of property, plant and equlpment Proceeds from disposal ofinStrnénts Purchase ofInstrnents 110,577 491,085 {2,4591 52,589 1419.000) 106.765 1287,8111 338,727 Ngt cash provlded by (used In) investlng activities 232,792 157.681 Increasè Idècrèa8e) In cash and cash equlvalonts In tho year 14,009 171,0281 Cash and cash equiKplents at the beginning of the yaar 326,589 397,617 Totsl cash and ¢a8h equlvalents at th8 end ofthe year 19 340,598 326,589 The notes on pages 29 to 41 fomi part of these accounts. 28
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General information and basis of preparation Actes Trust is a private company limited by guarantee in England I Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 3 of these financial statements. The nature of the charity's operations and principal activities are the provision of recreational facilities, room hire and catering, rental of investment properties and client led services. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Income recognltlon All incoming resources are included in the Statement of Financial Activities {SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entillement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. 29
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Going Concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties currently exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. Fixed assets All fixed assets are initially recorded at purchase cost plus the costs of any directly attributable expenditure. Depreclatlon Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Property Investment Property Football Pitches Equipment Vehicles 50 years straight line No Depreciation 25 years straight line 4 years straight line 10 years straight line 30
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {continued) Investments The Multi Asset Investment is stated at market value at the balance sheet date. Market Value best represents a true and fair view of the value of these assets to the charity. The market value is obtained from Cazenove Capital. The SOFA includes net gains and losses arising on revaluations and disposals throughout the year. Investment Propertles Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the SOFA. Financlal Instruments Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Debtors and creditors receivable I payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of one year or less from the date of acquisition or opening of the deposit or similar account. Taxation The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Fund Accountlng General funds are unrestricted funds that are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. The capital fund identifies the funds available for restricted fixed assets. Restricted funds are those which can only be used in accordance with the wishes of the donor.
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Penslon Contributions The charitable company operates a Personal Pension Scheme for the benefit of its own staff. Pension contributions to defined contribution schemes are written off to the statement of financial activities in the year to which they relate. Transfer between Funds The transfer between Capital funds and unrestricted funds represents movements in fixed assets. Irrecoverable VAT Irrecoverable VAT arising from partial exemption is shown as a separate item and included in resources expended in the year in which it arises. Judgements and key sources of estimatlon uncertalnty There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements- The estimates and assumptions that could have a significant potential impact on the carrying values of assets and liabilities are as follows.. (a) Useful economic lives of tangible fixed assets. These are set out in the depreciation policy note above and are the best estimate based on past experience and expected performance. (b) Valuation of investment properties. Independent professional valuations are obtained every five years and the Board considers whether this valuation is likely to have significantly changed in the intervening years.
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 Income from charitable activities 2a GRAKfs RECEIVABLE 2025 2024 National Lottery Community- Climate Action Fund National Lottery Community- Help Through Crisis Fund The National Lottery Community- Awards For Al The National Lottery Community Fund - Reaching Communib'es European Social Fund Youth Employment Initiative Tees Valley Combined Authority- Multiply Fund DWP- Access To work Middlesbrough Council Other Grants 100,366 82,404 19,312 9.826 12,085 6,088 37,288 2,400 1,834 11,100 2,571 6,000 17.196 1,441 143,176 166,735 The grants received were the only reslricled Income received in 2025 and 2024. Income from other trading activities 2b ACTIVITIES FOR GENERATING FUNDS 2025 2024 Facilities - Room Hire Facilities Office Rental Facilities - Café & Calenn9 Facilities Sports Pitch Hire Facilities Other Income Client Led SeNices - Benefit Take Up Campaign 178,878 60.831 85,005 69,820 11,666 189,338 47.658 83,269 63,590 2,813 17.895 406,200 404,563 The £404,563 from 2024 was all unrestricted funds. 33
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 3 RESOURCES EXPENDED Generating Investment Charitable Governance Funds Management Activities Costs Total 2025 Direct costs Other Direct costs Staffing Administration costs Staffing and related costs Audit and related costs Depreciation Irrecoverable VAT 88.752 206,507 86,759 13.661 9.301 18,407 93,842 44,162 211,119 116,460 300.933 133,544 228,984 8,650 143,790 28.340 2,501 122 4,204 8,650 143,790 28,340 Totsl 2025 395.679 12,386 539,660 12.976 960,701 Generating Investment Charltable Govemance Funds Management Activities Costs Totsl 2024 Direct costs Other Direct costs Staffing Adminislption sts Staffing and related Costs Audit and related costs Depreciation Irrecoverable VAT 73,372 199,200 89,197 11,889 12,258 327 2,512 20,685 121,226 41.205 187,351 106,315 320,753 133.031 202.930 7,850 136,116 26,074 117 3,690 7,850 136,116 26.074 Total 2024 373,658 15,097 532,657 11,657 933,069 The £933,069 from 2024 comprises Unreslricled funds £646,758, Restrictèd Funds £166,735 and Capital fijnds £119,578. 4 NEf OUTGOING RESOURCES FOR THEYEAR Net oulgoing resources for the year is slated after charginglcrediting.. 2025 2024 Direclors'lTTUStees' emoluments Depreciation of owned fixed assets Unrealised GainllLossl on Investments Audilo¢s remurlerats'on 143,790 {20,562) 136,116 62,457 as auditor 8,650 7,8SO
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 S ANALYSIS OF STAFF NUMBER AND COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAWENT PERSONNEL The arage monthly head count was 22 staff12024. 231 and the arage num ber of fijll lime equivalent employaes and workers (including casual and part-b'mel during the sear were as follows., 2025 2024 Number of administrati staff Number ofmanagementstsff 15 16 17 18 The aggregate payToII costs ofth8 abo were,, 2025 2024 Wages and salaries Social Security costs Em plo5ers Pension Contribubons 477,588 35,572 11,807 475,030 33,504 11N73 524,967 520,007 There were no emplosees who receivad emplope benefits more than £60.000 during the report¢'ng period {2024.'Nonel. The charity Irusleès wère not paid or receiv&d any other benefits during the aT12024.'£nI1>, no board members were reim bur5ed for ewens8s during the arI2024,'£nI11. The key management personnel of the charitable com pany com pris8 the senior188m as listed on page 3. The total amount of key management personnel benefits (including em pl0r pension conlributionsl receiv&d by key m anagemenl personnel for their seNrs to the charitsble companywas £110,76512024.' £109,569) TAXATION The Trust is eMpt from Corporation Tax on its charitable actimts'es and the Board believa that no liability has arisen during the year. 35
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 7 TANCIBLE FIXED ASss Freehold Property Leasehold Property Equlpment Vehlcles Totsl COST Al 14)ril 2024 Pddits'ons Transfer lo Invastment Properties 1,054,526 4,025A83 493 57,271 1,966 9,963 5,147,243 2.459 (832,4061 (832.406) At 31 March 2025 222,120 4,025,976 59,237 9.963 4,317,296 DEPRECIATION At 14)ril 2024 Charge for the year Eliminated on transfer to Invaslmenl Properb'es 704,226 2,141.455 10,517 127.970 52,702 4,306 2,242 997 2,900,625 143,790 1599,0731 {599,073) At 31 March 2025 115,670 2,269,425 67,008 3.239 2,445,342 NEf BOOK VALUE 31 March 2025 106AS0 1,766,551 2,229 ,724 1,871,954 At 31 March 2024 350,300 1,884,028 4.569 7.721 2,246,618 At the balance sheet date, the charitable company had ¢ontracl8d with 18nants for the following fvlure minimum lease paynents,, 2025 2024 Within one sear 30,000 30,000 36
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 INVESTMENTS Multi Asset Investment Cazenove Properties Total Market Value At 1 April 2024 Additions Disposals GainslLosses Transfer from Freehold Property 1,100.594 1.713,594 419,000 419.000 152.589) 1548,000) {600,589) 120,5621 {20,5621 233,333 613.000 233,333 At 31 March 2025 1,446,443 298,333 1,744,776 The Mulli-Asset investment is held primarily lo provide an investment return for the charity. 11 is slated al Fair Value as at the Balan Sheet date During the year there has been additons of £419,000, disposals of £52,589 and a loss of £20,562. Seven out of the eight investment properties were sold during the year decreasing the portfolio by £548,000. The value of the remaining property is based on an average of similar properties already sold and will marketed for sale in the next 12 months. The transfer from Freehold Property lo Investment properties relates lo the transfer of the Resour Centre from fixed assets al fair value. It is leased for five years with an annual break dause on the 30th July each year. Al the balance sheet dale. the charitable company had contracted with tenants for the following future minimum lease payments.. 2025 2024 Within one year 45.000 11 investment propert18s had not been rèvalued they would have bèen included al the following historical cost.. 2025 2024 Cost 857,406 466,430 Depreciation and Impairments 602,073 98,280 DEBTORS 2025 2024 Trade Debtors Prepayments and accrued income 25,150 11,201 18,270 14,941 36.351 33.211 37
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 10 CREDITORS: Amounts falllng due within one yèar 2025 2024 Trade Creditors Other tay8lion and social security Other creditors Accruals and deferred income 11.846 23.089 8,215 86,013 15,631 19,093 12,048 36,169 129,163 82,941 Included within accruals and defered incom e is defered income amounting to £61,228 ofwhich £39,693 relates lo grant income and £21,535 for rent and facilits'es income relating lo fijlure periods. 11 AMALYSIS OF NEf ASSEfs BEfwEEN RINDS Unrestrl¢ted Capltal Total 2025 Fixed Assets In$trents - Properbes Inkestsnents - Other Net Current Assets 11 S.403 1.766,SS1 298.333 1,446,443 247,786 1,871,954 298,333 1,446,443 247,786 2,107,965 1,756.551 3,864,516 Unrestrlctod Capltal Total 2024 Fixed Asse Invèstments - Properties InStments - Other Nel Current Assets 362,590 1,884,028 2,246,618 613,000 613,000 1,100,694 1,100,594 276,859 276,869 2,353,043 1,884,028 4,237,071 38
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 12 UNRESTRICTED FUNDS 2025 2024 Balance brought forward Nel Resources Expended before Investment Revaluations GainllLoss} on investments Transfers tollfroml Revaluation ResèNe Transfer tollfroml Designated Fund Transfer to Capital Funds 1.836.193 1.865.523 1167,1081 {131,5441 {20.562) 62.457 144,936 26,600 41,302 302,717 {493) 1289,5601 Balance carried forward 1,834,268 1,836,193 DESIGNATED FUNDS 2025 2024 Sports Pitohes Acklam Green Centre Resource Centre Houses Redundancies Disposals - Legal Fees 63,698 125,000 25,000 2,000 10,000 5,000 47,000 126,000 36,000 20,000 10,000 35,000 230,698 272,000 REVALUATION RESERVE 2025 2024 Balance brought forward Unrealised GainllLossl on Inveslmènl Pioperties Transfer to unrestricted res8rv8S 244,850 388,450 (56,9151 {117,0001 1144,9361 (26,6001 Balance Garried forward 42,999 244,850 TOTAL OF UNRESTRICTED FUNDS 2,107,965 2,353,043 In the prior year the transfer from unrestricted funds to capital funds relates to the cost of resurfacing the 3G Sports Pitches. Oesignaled funds comprise unrestricted fvnds that have been sel aside by the trustees for s specific purpose. These funds have been sel up lo allow replacement of andlor major repairs lo the charity's fixed assets. Where deemed necessary by the Iruslees the fund is increased each year as the as5els depreciate. The designated funds also include one-off provisions for unexpected redundancies and legal fees. The expected timing of this expenditure is to three years. The revaluation reserve felates to the gains on the market value of the investrnent properties. 39
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 13 RESTRICTED FUNDS 2025 2024 Balance brought forward Funds received in year Expendilure in year 143,176 166,735 1143,1761 {166,735) Balance carried forward 14 CAPITAL FUNDS 2025 2024 Balance brought forwa¥d Depreciation Transfer fromllo Unr8stricled Funds 1,884,028 1,714,046 1127,970) (119,578) 493 289,560 Balance carried fomard 1,706,551 1.884,028 After an annual review the Board considers that the restrictions ol these assets is still in place. The balance carried forward represents the Acklam Green Centre and Sports Pitches. 15 COMPANY LIMITED BY GUARANTEE The company is limited by guarantèe and does not have a shar8 capital. 16 RELATED PARTY TRANSACTIONS Helen Dudiak is a trustee of Tees Valley Education of which hired facilities from Actes Trust amounting lo £1,251. 17 CAPITAL COMMITMENTS The Trust had no contractual commitments to future capital expenditure at the year end. 40
ACTES TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2025 18 RECONCILIATION OF NEf INCOMEIIEXPENDITURE) TO NEf CASH FLOW FROM OPERATINGACTIVITIES 2025 2024 Net Incomollexpenditure for the reporting porlod (a8 per the ststement of financlal activities) (372.555) {305.6651 Adjustments for: Depreciation charges IGainsllLosses on invastrnents IGainsllLosses on revaluation of Fixed A8sets Dimdends, interest and rents from instments Lossllprofitl on the salè of inkestmenl properties Ilncreaselldecrease in debtors In¢reasèlldecreasel in creditors Net ca8h provlded by (u8ed Sn) oporatlng a¢tivitles 143,790 20,562 136.116 162.4571 117.000 1110,5771 1106,7651 56,915 (3,1401 46,222 218,783 46,124 52.062 228,709 19 ANALYSIS OF CASH AND CASH EQUNALEMrs 2025 2024 Cash al bank and in hand Notice depos its Iless than 3 m onthsl Total cash and ¢agh equivalènts 170,598 170,000 340,598 156,589 170.000 326,589 20 COMMITMEKfs UNDER OPERATING LEASES At 31 March 2025, the totsl m inim um lease paentS under non-cancellable opèrating leases were as follow5.' 2025 2024 ounts due within one ar knounts due ovar one ar 2,556 3,750 6.306 2,916 6A85 9,401 41