ADDISON YOUTH CLUB
ANNUAL REPORT & FINANCIAL STATEMENTS
31 MARCH 2025
Addison Youth Club, Charity number 1124045
Registered address.. clo London Youth, 47-49 Pitfield Street, London N16D

Addison Youth Club
Year ended 31 March 2025
CONTENTS
REFERENCE AND ADMINISTRATIVE INFORMATION
STRUCTURE, GOVERNANCE AND MANAGEMENT
OBJECTIVES, ACTIVITIES AND FUTURE PLANS
GRANT-MAKING ACTIVITIES
FINANCIAL REVIEW
STATEMENT OF TRUSTEES, RESPONSIBILITIES
12
INDEPENDENT EXAMINER'S REPORT
13
STATEMENT OF FINANCIAL ACTIVITY
14
STATEMENT OF FINANCIAL POSITION
15
STATEMENT OF CASHFLOWS
16
BASIS OF PREPARATION OF THE AccouNTS
17
NOTES TO THE AccouNTS
20

Addison Youth Club Reference and Administrative Details
Year ended 31 March 2025
REFERENCE & ADMINISTRATIVE INFORMATION
Charity:
Addison Youth Club
Charity number 1124045, registered in England & Wales
Registered Address:
clo London Youth
47-49 Pitfield Street
London N16DA
Directorsrrrustees:
Julian Beare (Chair)
Cecile Coke (appointed 20 May 2024)
Patora Dyrma (resigned 9 December 2024)
Grant Blowers (appointed 19 December 2024)
Jane Earle
David Miller
Poppy Scott Plummer (resigned 21 May 2024)
James Waight
Keith Ward
Phillip Wassouf
Banker:
National Westminster Bank plc
Docklands South Quay Branch
54 Marsh Wall
West India Quay
London
E146LJ
Independent
Examiner:
James Mathieson FCA
Lindeyer Francis Ferguson Limited
North House
198 High Street
Tonbridge
Kent TN9 1 BE

Addison Youth Club Trustees, Report
Year ended 31 March 2025
The Trustees present their report and the unaudited financial statements for the year ended
31 March 2025.
The Trustees confirm that the annual report and financial statements of the charity comply
with the current statutory requirements, the requirements of the charity's governing
document and 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) (Charities SORP (FRS 102)).
Charity information set out on page 3 forms part of this report.
STRUCTURE, GOVERNANCE & MANAGEMENT
Constitution
Addison Youth Club, a registered charity, was established in 1951 and registered with the
Charity Commission through a Scheme in 2008, updated in 2018. It was subsequently
governed by its corporate trustee, Addison Youth Club (Trustee) Limited until 2020 when
that company was dissolved and the current Board of Trustees established.
Governance
Trustees are elected for an unrestricted term and are appointed by the trustees. During the
period under review two trustees were appointed.
Addison Youth Club has no staff. The decision making and management of the charity is
carried out by the trustees, and the day-to-day administration of the charity is carried out
by third parties appointed by the trustees,
A charity is best placed to achieve its ambitions and aims if it has effective governance
and the right leadership structures, and to this end the trustees follow the Charity
Governance code.
Two trustees have resigned during the year, and new ones appointed. Trustees
undergo an induction process which consists of a briefing with the Chair, supply and
review of key documentation and a formal face-to-face meeting with other trustees where
strategy and plans for the year are reviewed. All trustees are involved in the prO￿sS for
review of financial position and subsequent allocation of grant funds for the year.
Related Parties
London Youth (The Federation of London Youth Clubs, as a custodian trustee) previously
held the Title Deeds for a property on behalf of Addison Youth Club (as a custodian trustee).
In 2019 the property was sold and a permanent endowment fund estsblished through which
the charity now awards grants. Addison and London Youth have one trustee in common, but
Addison now operates fully independently.

Addison Youth Club Trustees, Report
Year ended 31 March 2025
OBJECTIVES, ACTIVITIES & FUTURE PLANS
The charitable objects of the Addison Youth Club are to promote the development of boys
and girls resident in the London Borough of Hammersmith & Fulham and neighbouring areas
to achieve their full physical, intellectual, social and spi ritual potential.
This was previously achieved through running a youth club on the site at 45 Redan Street,
London W14 OAB from 1951 to 2017.
In 2018 the Trustees of the Addison Youth Club reviewed success in achieving its charitable
objects and concluded that the best use of resources would be to fund other youth projects
in the area.
The Trustees then established an Endowment Fund from the sale proceeds of the Redan
Street propety. The sale of the property realised net proceeds of £2,329,887 in late October
2019, from which an Endowment Fund of £2,300,000 was created.
Having achieved its objective of becoming a grant-making charity, the first round of grant-
making activities started in the financial year ending 31 March 2021.
The Trustees have had regard to the Charity Commission's general guidance on public
benefit in reviewing the charity's objectives and activities, The Trustees are following 'The
Charity Governance Code, and continually review to implement key recommended
practices.

Addison Youth Club Trustees, Report
Year ended 31 March 2025
GRANT-MAKING ACTIVITIES IN THE YEAR TO 31 MARCH 2025
Applications from eligible causes are made and administered via a website
www.addison
outh.or
which sets out the eligibility criteria as follows..
k Grants will cover children and young people be￿een the ages of 8 to 25 in the
Hammersmith & Fulham area.
Applications from members of London Youth and from members of Young
Hammersmith and Fulham Foundation are prioritised.
The minimum normal grant size will be £5,000 up to a maximum of £10,000 but is at the
discretion of trustees.
> All applicants must be a charity registered with the Charity Commission, or a CIC
with a relevant asset lock status, where no more than one director is receiving
remuneration from the company.
The purpose for which funds were being sought should be consistent with the
applicant organisations charitable objects.
Applications may be considered for both restricted programmes or unrestricted
funding to support general operational activity.
The applicant organisation will be required to meet a reasonable level of due
diligence requirements, relative to the size of the grant being sought.
Addison Youth has been supported during the year by the Young Hammersmith & Fulham
Foundation in reaching out across youth ne￿orkS in the borough and surrounding areas.
A totsl of 26 grant applications were received by the end of January 2025 and were
shortlisted through due diligence criteria. The Trustees resolved that their grantmaking
activities in 2024125 would once again focus on 'open access clubs meeting the basic needs
of young people in the Hammersmith and Fulham area,.
Following careful review, the Board made the decision to award fourteen grants in total
(2024.. nine), which reflected the aspiration of the Trustees to support local vibrant
organisations creatively helping young people to aspire and realise their ambitions.
The total value of grants awarded in 2025 was £67,707 (2024.. 63,400) and formal Grant
Agreements issued to each of the grantee organisations. The smallest grant awarded
was£1,400 (2024.. £4,500) and the largest being £8,807 (2024.. £9,000). The table below gives
full details and recent history.
Trustees will visit all award winners during the year to assess progress, and written reports
from the winners about the use of funds and the success of their projects are due by March
2026. In setting out a monitoring and evaluation framework for the grantee organisations,
the Trustees have taken a proportionate approach, relevant to the size of the grant issued.

Addison Youth Club Trustees, Report
Year ended 31 March 2025
As in previous years, the response to the grant funding given for expenditure in 2025 was
positive. The full list of organisations who have re￿iVed funding from the charity since its
inaugural funding round are as follows:
Grants issued since 2020121
2025
2024
2023
15,0
14.472
2022
2021
16,500
14.600
Action on Disability
Baraka C￿7 m unity Association
Bumt Orange
Doorstep Library
Eat Club
F￿harn Reach Boal Club
Funpacl
Hammersmth Community Gardens 5.000
HUrdles2H￿pS
Key4Life
Kulan Foundab'on
Lawyers4Leamers
Lrttle Raven Arc&Je
lthther and Child Wdfare
Reiugee ACC ess
st Abans Fulham
Sands End
The Brunswick Club
The Harrow Club
The Kids
The Sulgrave Club
Urban Parlner¥hplMasbro Y Club
VDlence Interventh)n Project
Wac Arts
Whrte City Theatre
4.500
8.974
5,000
4,500
8.820
7,410
20,869
7.000
7.000
10,OC
7.000
8.807
8.426
9.000 15.OCK)
9,108
10,016 15.0(MJ
8.586
9,000 15,0(K) 10,0(K)
1 S,OCK) 15,000
7.680
8,248
8,218
20.000
18,500
5.ockl
5,000
67,707 63,400 98,308 1C#),973 1(MJ,746
The aim of the charity is to provide support to the Hammersmith & Fulham community by
developing strong links with local organisations delivering front-line services to young
people.
Addison Youth continues to develop its remit and expertise in grant-making.
The charity does not undertake any fundraising activity.

Addison Youth Club Trustees, Report
Year ended 31 March 2025
Here is a sample of some Trustee visit and project reports made to recent grant recipients..
SEAPIA:
'SEAPIA was awarded funds in the 2025 grant round to contribute to the salary of a
sessional worker.
Clearly SEAPIA is a place properly embedded in the community, with children be￿een the
ages of 4 and 13 able to come to this big unique space with indoor and outdoor provision to
go to after school at no cost, until 6pm. It's a safe and happy place for these children to play,
socialise, learn, have a hot meal and just be.
They gave a wonderful impression., it's a rather special place really.,
White City Theatre Project:
'Our summer performance project was a huge success. Over six weeks, our members
worked with director Amari in Monday sessions to develop and devise a theatre piece called
The Verdict, which Amari then scripted. During the first week of the summer holidays, the
company rehearsed intensively culminating in performing Iwo shows at the Bush Theatre to
full houses of families, friends, and the local community. The project received excellent
feedback, and the young people had a such a fantastic week, building confidence, learning
new skills, and experiencing the excitement of creating a full production from start to finish.
The Kids Network:
'1 visited the H & F premises of TKN to see how they are using our 2025 grant to best effect.
They provide one-on-one mentoring of children aged 8-11, who have been having some
issues at school. The mentoring is weekly, for a year. The children are referred by schools
and other organisations, and the mentors are young volunteers (typically late teens in their
early 20's) and generally recruited from university fairs.
TKN are doing a very valuable job in the community. They came across very well, had a
grip of all the issues, and I would have no hesitation in recommending them for a grant in
the future.

Addison Youth Club Trustees, Report
Year ended 31 March 2025
FINANCIAL REVIEW
The charity undertakes grant-making activities funded by the Permanent Endowment
established in 2019. At the start of the financial year the trustees noted that the real value
of the Permanent Endowment had fallen below its original value and as such took the
decision to slightly reduce the level of grants made in order to preserve the long-term funding
level. Addison has adopted the Total Return methodology for its Permanent Endowment,
and this is deemed to be a necessary measure in order to balance the interests of current
and potential future beneficiaries. Note 11 to the accounts gives further details.
The original investment of £2,300,000 had grown to £2,809,358 at the start of the current
financial year. Net investment losses of £119,177 in the year (2024: gains of £254, 679)
mean that total investments had fallen to £2,690,181 by 31 March 2025 and now shows a
deficit of £201,659 (2024: deficit of £9,360) compared to its original value in real terms. Total
Funds of £2,715,462 (2024: £2,829,670) are represented by the value of the Endowment Fund
plus a General Fund balance of £25,281 (2024. £20,312).
The Statement of Financial Activity shows Investment Income of £79,632 (2024.. £78,091).
Grant expenditure in year was £67,707 (2024.. £63,400) covering activity and reporting
periods from 1 April 2024 to 31 March 2025. General Expenditure was £4,463 (2024..
£3,828) and Governance Costs were £2,493 (2024.. £4,197). Note 2 to the accounts gives
further details.
The closing Cash at Bank position was £39,658 (2024.. £27,214) and the net Current Asset
position £25,281 (2024: £20,312).
I NVESTMENTS
The sum of £2,300,000 was invested in early November 2019 with a total return approach
in a Charities Ethical Investment Fund held by CCLA.
As noted above, unrealised investment losses of £119,117 were recorded during the year,
in contrast to gains of £254,679 made in the previous financial year. This represents a drop
in the overall value of investments of 4.2 % during the year.
The Addison year end fell in the period where market COn￿rnS regarding the US 'Liberation
Day, annOun￿mentS were high. Consequently, the US market fell by 70/0 in the two weeks
preceding 31 March, with even greater falls in a number of overseas markets where the
punitive impact of tariffs was deemed likely. The CCLA Fund which the charity is invested in
correspondingly fell 8.8 % in the same period and ended the year 4.4 % down for the 12
months. It should be noted that 96 % of the investment loss was incurred in the final quarter
of the 2025 financial year, and the bulk of that in the final weeks of the financial year.
Combined with inflationary (CPI) growlh lower than recent previous years but still nudging
3 % - it meant that the value of the endowment in real terms remained below the value when
established in November 2019. Given that markets have recovered significantly post-year

Addison Youth Club Trustees, Report
Year ended 31 March 2025
end, trustees remain hopeful that this shortfall will be recovered swiftly, although economic
conditions remain volatile and the reported shortfall in (CPI rebased) 'real' value has risen
from £39k to £201 k.
RESERVES POLICY
The transition from an operational youth club to a grant-making organisation with no
overhead or employees considerably has lowered the need to carry reserves.
The fund held as listed investments within the permanent endowment fund ensures the
charity has sufficient resources to carry on making grants as trustees think fit, with due
regard to the level of investment income available to fund such grants. Grant payments may
be varied by the charity in accordance with income earned on investments. Trustees take a
view as to the value of grant funding they make available each year, particularly should the
income earned from investments be insufficient to cover any losses incurred.
The trustees, having reviewed the Reserves Policy, are satisfied that adequate funds are
available via the General Fund balance of £25,281 (2024: £20,312) to sustain
GenerallGovernance expenditure, all grants in relation to 2025 having been discharged in
full to eligible grantees. The Reserves Policy is regularly reviewed, and trustees are
confident that assumptions remain valid.
RISK MANAGEMENT
The trustees receive a regular flow of information about both the finances and operations of
the Trust. Trustees have assessed the major risks to which the Trust is exposed through
their risk management policy. These are..
Investment risk- the Trust's assets are comprised of investments, which are used to
generate its income. An investment policy is in place to mitigate risks associated with
the management of these assets and the performance of the investments, which are
professionally managed, is regularly reviewed by the trustees.
Financial risk- the risk of financial mismanagement or fraud the charity's financial
transactions will comprise of receipt of income from investment managers, and
expenditure related to its grant-making activities,. with some small expenditure
incurred which will relate to bank charges and governance costs. Addison continues
to share banking resources with London Youth, but approval and control procedures
are completely independent and financial information for the Trust is held, and
reported, separately. Addison has commenced the process of fully separating its
banking and this will be completed in 2025. Administrative and IT resources are
provided by independent and carefully vetted third paty suppliers.
Grant-making activities
the charity has put rigorous due diligence processes in
place to ensure that funds are appropriately granted to relevant organisations in the
Hammersmith and Fulham area to reach the targeted cohort of young people, in line
10

Addison Youth Club Trustees, Report
Year ended 31 March 2025
with their respective charitable objectives. Processes have also been put in place -
which include monitoring and evaluation frameworks to provide stewardship and
oversight of grants to ensure that they are being spent in line with agreed aims and
objectives. The trustees will monitor the potential for financiallreputational risk closely
as a result of their grant-making activities.
Conflict of interest- the charity previously worked closely with London Youth but
is now operationally independent. A potential conflict remains arising as a result of
one of the trustees of the Addison Youth Club also being the Deputy Chair of London
Youth, but this has been mitigated by the appointment of an additional independent
trustee to the Addison Board. A conflict-of-interest policy is in place to manage any
risk of conflict.
Child protection risk - this risk is mitigated by the fact that the charity no longer
operates as a youth club working directly with children and young people and its
future activities will be limited to grant-making activities. In relation to its grant-making
activities, the charity has published a statement of its safeguarding policy
expectations of grantee organisations and reviews the safeguarding arrangements in
place by grant applicants as part of its due diligence process for making a grant
award. On occasion Addison trustees will visit such organisations, and checks are in
place to ensure these visits are fully compliant with these expectations and policies.
CASH FLOW AND GOING CONCERN
Net Cash Flow used in operating activities in 2025 was £67,188 (2024.. £67,487), with Cash
Flows from investing activities of £79,632 (2024. £78,091).
The trustees have assessed the ability of the Trust to continue as a going concern. Informing
this conclusion, a period of at least 12 months from the date of signing the financial
statements has been considered.
A key area of uncertainty relates to ongoing market volatility on the valuation of investments.
There is flexibility in the level of discretionary grants approved and as such variances can
generally be accommodated within reserves. In other words, should market volatility have
a materially negative impact on Investment Income in the future, trustees have the option
of a delay to grant-making activities andlor a restructure of the fund should that be deemed
necessary, although no such measure is currently anticipated to be necessary.
The general fund ratio to average annual non-grant expenditure is deemed sufficient to
cover operating costs for 2024-25, based on expected expenditure levels.
Consequently, the trustees have concluded that the Trust has a reasonable expectation that
there are adequate reserves to continue in operational existence for the foreseeable future
and have continued to prepare the financial statements on a going concern basis.

Addi80n Youth Club TKu5teBS' Rep(Yt
Year otKled 31 MatGh 2025
STATEMENT OF TRUSTEES. RESPONSIBILITIES
Trustees are r8sponsible for preparing the trustees, report and accounts In accLYdance with
applicable law and United Kingdorn Accounting Standards (Unit8d Kingdom G￿erallY
Accepted Accounting Practice).
The law aF¢)Ilc*ble to charFtl88 in Engl8fKI and Wales requires the trustees to prèpare
a(￿1n￿ for e8ch flnand81 year which give a true and fair view of the state of affairs of the
ct*rity and ol the Incomlng resources and applicalion of resource8 of the charity for that
perk)d. In prepaflng th638 accounts. the tru8te8s are required lo:
> select sultsble ac£ountlng FK)Ilcles and then apply them (xJnsi8tentty
> observe th8 methods and principles in the Statement of Recommend8d Practi
(Accounting and Re￿rb.r￿j by Charlties) (th8 Charitles, SORP FRS 102)
> make Judgements and estimates that are roasonable and prudent
> State hthether applicable Unlled Kingdom Accoun15ng Standards have been
followed, subject to any rnalerial departures disclosed arKI explained in th8
accounts; and
prepa￿ the accounts on the going concèm basis unl888 il is inappropriate to
presume Ihat Ihe tharity WIM Gontlnue In operallon.
Trustaas ar8 responslble for keeplng adequate aC￿UntI￿ re(x)rd8 that 8r8 Sufficient to
show and explain the charity's tranSac￿nS and disclose with ￿asOnable accuracy at any
tlme Ihe flnanclal posltion of the charity and enable them to ensure Ihat the ac(x)unts comply
wlth the Charltles Act 2011, tho Charity (AC￿Unts and Reports) Regulations 2008 and the
provlslon8 of the trust de￿1. They are also responsible safeguarding the assets of the
charity and henco for taking rnaaonabla 8tOP8 for Ihe prevontlon and det8ctk)n of fraud and
other irregularities.
Sign
on behalf of the tru8tee8:
alr
23.1.26
Pr￿led bythe tru8tee3 on..................
12

Addison Youth Club: Annual Report and Accounts FYE 31 March 2025
Independent Examiners Report to the Trustees
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF ADDISON YOUTH
CLUB
I report to the trustees on my examination of the accounts of the Addison Youth Club for the
year ended 31 March 2025 which are set out on pages 14-24.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of the Trust's accounts carried out under section 145
of the 2011 Act and in carrying out my examination I have followed all the applicable
Directions given by the Charity Commission under section 145{5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 Trust as required by section 130
of the Act., or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form
and content of accounts set out in the Charities (Accounts and Reports) Regulations
2008 other than any requirement that the accounts give a 'true and fair view, which
is not a matter considered as part of an independent examination.
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 accounts to be reached.
James Mathieson FCA
Lindeyer Francis Ferguson Limited
Date..
North House
198 High Street
Tonbridge
Kent TN9 1 BE
13

Addison Youth Club: Annual Report and Accounts FYE 31 March 2025
Statement of Financial Activity
STATEMENT OF FINANCIAL ACTIVITY
Unrestricted Endowment
Funds
Funds
Total
Funds
2025
Total
Funds
2024
Note
Income
Other income
79,632
79,632
79,632
79,632
78,091
78,091
Total Income
Expenditure
Charitable Expenditure
Total Expenditure
74,663
74,663
71,425
Net GainslLosses on
Investments
(119,177) (119,177)
254,679
Net Incomel(expenditure)
4,969
(119,177) (114,208)
261,345
Reconciliation of Funds
Total Funds brought forward
20,312
2,809,358 2,829,670
2,568,325
Total Funds Carried Forward
25,281
2,690,181 2 715 462
2,829,670
All of the above activities are derived from continuing operations during the above financial
years. The notes on page 20 to 24 form part of these financial statements.
14

siaieiwii d Finan(aal P￿1￿>￿
STATEMEKf OF FiNANc￿L posmoN
T•)tsl
Unr••trlct•d Endovffl*nt Fund•
Fund•
Fund•
2026
Total
?024
Flx•d A•••t•
0 2.6￿.181 1690.181 2609.1
Tolal Flx•d A•••t•
2.8￿ 181 1690.111 2 358
CwT•nt A•••ts
Cash al B•r*
Dttlixs
T•l•l Curnnt A•••l•
39.658
246
39,65•
246
27214
Amowls *in 1 war
N•1 Cwr•rtl A•••¢•
114.823)
25.281
114,6231
J21
YJ 312
TOTAL NET ASSETS
26.281 2.690.181 2 715.462 2 829 C,70
Fund•
UNestnde(l Fw
25.281
26.281
0 2.fj￿.I8l
690.181 2 B(fv 156
25,281
2,690,181 1716.462 2 ifj9 17
11
TOTAL FUNDS
ARD
Jyll•n 8•arn
.126
15

Addison Youth Club: Annual Report and Accounts FYE 31 March 2025
Statement of Cash Flows
STATEMENT OF CASHFLOWS
2025
2024
Cash flows from operating activrtles:
Nel cash provided by (used in)
ODeratina activities
Cash flows from investing activitses:
Net dividends, interest and rents from
investments
Net cash provided by {used in)
invests'ng actNrties
Change in cash and cash equivalents
in the reporting year
Cash and cash equrrfalents at the
beginning of the reports'ng year
Cash and cash equNatents at the end
of the reportlng year
167,188)
(67,487)
79,632
78,091
79,632
78,091
12,444
10,604
27214
16,610
39,658
27,214
Cash and cash equivalents:
Cash at bank and in hand
Total cash and cash equrrfalents
01-Apr-24
27,214
27214
Caghflow
31thl•r-25
12,444
12,444
39,658
39,658
Reconcillation of net income (expenditure> to net
cash flow fiom operating aCt￿rt￿S.
Net income l (expenditure) for the
reporting period as perthe statement of
nancial activitses
Lossl(Gains) on investments
other Income
2025
2024
1114208)
261,345
119,177
179,632>
(246)
7,721
{254,679)
178,091)
336
3,602
(Increaselldecrease in debtors
Increasel(decrease) in creditors
Net cash provided by (used inl
operab'ng actsvities
167,188)
(67,487)
16

Addison Youth Club: Annual Report and Accounts FYE 31 March 2025
Notes to the Accounts
BASIS OF PREPARATION OF THE ACCOUNTS
Addison Youth is a registered charity in England & Wales. The address of the registered office
is given in the administrative information on page 3. The accounts (financial statements) have
been prepared on the basis of historical cost convention adjusted for fair value of investments,
in accordance with the Charities SORP (FRS 102) applicable to charities preparing their
accounts in accordance with the Financial Reporting Standards applicable in the UK and
Republic of Ireland and the Charities Act 2011 and UK generally Accepted Practice.
The Addison Youth Club meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise
stated in the relevant accounting policy notes.
Within the statements 2025, refers to either the period ended, or balance at, 31 March 2025,
with the same convention applying to columns marked '2024'.
The accounts are presented in pounds sterling and rounded to the nearest pound.
Going Concern Ststement
The Trust holds a permanent endowment fund from which it received investment income to
fund grants. A key area of uncertainty relates to the prevailing market turmoil on the valuation
of investments and returns.
Net Cash Flows from investing activities have risen slightly to £79,632 (2024.. £78,091), which
are more than adequate to cover the level of non-grant expenditure of £6,956 (2024.. £8,025).
In contrast to the prior year investment gains of £254,679, the year ended 31 March 2025 saw
investment losses of £119,177 as noted in the investment commentary above.
The trustees have assessed the ability of the Trust to continue as a going concern. Informing
this conclusion, a period of at least 12 months from the date of signing the financial statements
has been considered. Trustees have concluded that the Trust has a reasonable expectation
that there are adequate resenies to continue in operational existence for the foreseeable future
and have continued to prepare the financial statements on a going-concern basis.
There are no material uncertainties about the charity's ability to continue, and so the going
concern basis of accounting has been adopted.
Income Policy
All income is credited to the statement of financial activities when there is entitlement, it can be
measured, and receipt is probable. Investment income is credited to the statement of financial
activities in the period in which the Trust is entitled to receipt and the amount can be measured
with reasonable ￿rtaIntY.
17

Addison Youth Club: Annual Report and Accounts FYE 31 March 2025
Notes to the Accounts
Expenditure
Expenditure is included in the statement of financial activities when incurred and includes
attributable VAT which cannot be recovered.
Expenditure comprises the following:
The cost of generating funds includes the fees paid to investment managers in
connection with the Twst's listed investments.
Grants payable are included in the statement of financial activities when approved and
when the intended recipient has either received the funds or been informed of the
decision to make the grant and has satisfied all related conditions.
Governance costs comprise those costs directly attributable to compliance with
statutory requirements.
Fund accounting
The general fund comprises those monies which may be used towards meeting the charitable
objectives of the Trust at the discretion of the trustees.
An Endowment Fund of £2,300,000 was created as a permanent endowment in the Trust Deed
dated 27 May 1937 (as amended by Charity Commission Schemes in 1978 and 2008).
18

Addison Youth Club: Annual Report and Accounts FYE 31 March 2025
Notes to the Accounts
Financial Instruments
The charity has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at amortised cost using the effective interest method. Financial assets
held at amortised cost comprise cash at bank and in hand. Financial liabilities held at amortised
cost comprise trade creditors and accruals.
Investments, including bonds held as part of an investment portfolio, are held at fair (market)
value at the Balance Sheet date. Realised and unrealised gains and losses are credited, or
debited, to the statement of financial activities in the year in which they arise.
At the balance sheet date, the charity held financial assets at fair value of £2,690,181 (2024:
£2,809,358),. assets at amortised cost of £39,904 (2024.. £27,214) and financial liabilities at
amortised cost of £14,623 (2024.. £6,902).
Critical accounting judgements and key sources of estimation uncertainty
In the application of the charity's accounting policies which are described above, trustees are
required to make judgements, estimates and assumptions about the carrying values of assets
and liabilities that are not readily apparent from other sources. The estimates and underlying
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 if the revision
affects only that period, or in the period of the revision and future periods if the revision affects
the current and future periods.
In the view of the trustees, no assumptions concerning the future or estimation uncertainty
affecting assets and liabilities at the balan￿ sheet date are likely to result in a material
adjustment to their carrying amounts in the next financial year.
19

Addison Youth Club.. Annual Report and Accounts FYE 31 March 2025
Notes to the Accounts
NOTES TO THE ACCOUNTS
1. Income
2025
2024
Income earned on Deposits
Other Income - transfer from Unapplied Total
Return
Total
79,632
78,091
79,632
78,091
2. Expenditure on Charitable Activities
2025
2024
Grants to Organisations
67, 707
67,707
63.400
63,400
Support Costs
Accountancy & IrKJependent Examination Fees.
Accountancy & lThJependent Examinats'on Fees
incurred in respect of prior year
Insurance charges
Bank charges
Management and Administration Fees
Subscriptions
2,491
3,320
540
336
4,219
244
6,956
3,500
328
8,025
Totsl
74,663
71,425
Independent Examiners remuneration
Independent Examination Fees
2,200
2,200
2,100
2,100
*drop is pri ma ri ly due to accounti ng servi ces bei ng provided pa rti al ly pro bono I n 2024125
20

Addison Youth Club.. Annual Report and Accounts FYE 31 March 2025
Notes to the Accounts
3. Investments
2025
2024
Listed Investments
Opening Market Value
Net investment gains/(losses)
Market value at 31 March 2025
Cash held by investment managers for reinvestment
2,809,358
(119,177)
2,690,181
2,554,679
254,679
2,809,358
2,690,181
2,809,358
Cost of listed investments at 31 March 2025
2,300,000
2,300,000
Listed Investments held at 31 March 2025 comprised:
Overseas Equities
UK Equities
Propetylother Assets
Cash
TOTAL
1,532,865
219,519
750,291
187,506
2,690,181
1,830,016
178,113
739,985
61,244
2,809,358
4. Staff Costs
Addison Youth Club does not have any employees. Administration services were provided in
year by a third-paty supplier.
5. Debtors
2025
2024
Prepayments
Total
246
246
6. Creditors
2025
2024
Trade Creditors
Grant payments accrued
Other Accruals
Total
1,302
8000
6,623
14,623
5,600
6,902
21

Addison Youth Club.. Annual Report and Accounts FYE 31 March 2025
Notes to the Accounts
7. Funds
Asat1
April 2024
Gainsl
(Losses)
Incoming Expenditure
Transfers
Asat31
March 2025
Funds
Unrestricted
20,312
Endowment 2,809,358
79,632
(74,663)
25,281
2,690,181
(119,177)
2,829,670
79,632
74,663
119,177
2.715,462
Asat1
April 2023
Gainsl
(Losses)
Incomi ng Expenditure
Transfers
Asat31
March 2024
Funds
Unrestricted
13,646
Endowment 2,554,679
78,091
(71,425)
20,312
2,809,358
254,679
2,568,325
71,425
78.091 ￿ 254,679
2,829,670
8. Analysis of Net Assets between Funds
General
Fund
EndovM￿nt
Fund
TOT
2025
Fund balances at 31 March 2025
Represented by:
Investments
Current assets
Creditors: amounts falling due within orE year
2,690,181
2,690,181
39,904
(14,623)
39,904
(14,623)
Total Net Assets
25,281
2.690,181
2,715,462
General
Fund
End0V￿rEnt
Fund
TOT
2024
Fund balances at 31 March 2024
Represented by:
Investments
Current assets
Creditors: amounts falling due within one year
2,809,358
2,809,358
27,214
(6,902)
27,214
(6,902)
Total Net Assets
20,313
2,809,358
2,829,670
22

Addison Youth Club.. Annual Report and Accounts FYE 31 March 2025
Notes to the Accounts
Trustees, Remuneration
None of the trustees received from the charity any remuneration for any work carried out
during the financial year ended 31 March 2025 (2024.. £nil). The amount paid to trustees
for expenses during the financial year ended 2025 was £nil (2024.. £nil).
10. Related Parties
During the year under review, Addison paid no management fees or subscription Fees to
Related Parties.
11. Permanent Endowment investment and total return
Addison Youth club has adopted the Total Return Accounting basis for its permanent
endowed funds which were originally established in late 2019 following the sale of the
Redan Street building. Trustees have chosen to maintain the capital of the permanent
endowed funds in real terms by making a transfer from the Unapplied Total Return equal
to the increase in Consumer Price Index (CPI) from the base point (1 November 2019) to
the Balance Sheet date. Any amounts remaining after this transfer in the Unapplied Total
Return will be applied to income funds or retained as the Trustees see fit. Any income funds
not disbursed in the financial year are retained as Unapplied Total Return.
As a result of historic investment returns and the recent impact of high inflation, the opening
unapplied total return fund balance was slightly negative (at £9,356). This has been
restated to reduce the value of the endowment to follow the SORP. All Dividends earned in
the year were transferred to Income. Investment losses (of £119,177) and continued
inflationary pressures have compounded this, and the substantial recoupment required (of
£73,126) meant that the unapplied total return carried forward shortfall would have grown
to £201,659.
As the investment losses exceed the amount of unapplied total return, the loss has been
treated as a reduction in the value of the trust for investment component of the permanent
endowment until such time as these losses are reversed.
Trustees continue to monitor this closely and note that the Addison year end fell at just the
moment when markets dipped as a consequence of US policy announcements and that
stock markets recovered these losses in the second quarter of 2025. Noting also the
improving inflationary position in the first half of 2025, trustees remain hopeful that this
recovery will continue and will formally review the position before end December 2025. In
the meantime, grants continue to be restricted (to balance the interests of current and
potential future beneficiaries) and trustees have decided not to make any transfers during
the year.
23

Addison Youth Club.. Annual Report and Accounts FYE 31 March 2025
Notes to the Accounts
Endowed
for
Investment
Unapplied
Total
Return
2024
Total
Endowed
Total
Endowed
At start date: 1 April 2024
Gift component of permanent endowment
Unapplied Total Return
Reduction in the value of the
trust for investment
2,818,714
2,818,714
2,730,573
(175,894)
9,356
2 809 358
9,356
2 809,358
2,554,679
Movements:
Recoupment of trust for investment"
Dividend return (net of costs)
Investment losses
73,126
(73,126)
79,632
119,177
(112,671)
(79,632)
79,632
119,177
(39,545
(79,632
78,091
254,679
332,769
(78,091)
73,126
Unapplied total return allocated to Income
Reduction in the value of the trust for
investment
192,303
192,303
Net movements in
reporting period
119 177
119 177
254,679
Totsls at 31 March 2025
2 690 181
2 690 181
2,809,358
.This represents the sum elected to maintain the real capital value of the endowed funds by
offsetting the impact of inflation.
24

ADDISON YOUTH CLUB
Charity number 1124045
clo London Youth
47-49 Pitfield Street
London N16DA
info
addison
outh.or
.uk