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2021-05-31-accounts

Charity Registration No. 1127173

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Company Reglstration No. 05457507 (England and Wales)

HEACHAM YOUTH & COMMUNITY TRUST LIMITED -ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

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CHARITY COMMISSION , TOMAR 2022 RECORDED RECEIVED

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HEACHAM YOUTH & COMMUNITY TRUST LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr D Curtis
ME Jennings
RJ Dix
M Pishorn
Mr PK Sutton
MrD Page
Secretary ME Jennings
Charity number 1127173
Companynumber 05457507
Principal address 5 Strachan Close
Heacham
King's Lynn
Norfolk
England
PE31 7SB
Registered office ' - 11 King Street
se a Kings Lynn
. Norfolk
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, England
;
“eG, * PE30 1ET
Independent examiner __.. 7 _ DominicShaw FCCA
"+ + Aston Shaw Limited
. . «The Union Bullding
;
rs		 51-59 Rose Lane
Norwich
Norfolk
England
NR11BY

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HEACHAM YOUTH & COMMUNITY TRUST LIMITED

CONTENTS

Page
Report oftheTrustees 1-2
Statement offinancial activities 4
Balance sheet 5
Notestothefinancialstatements 6-10

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HEACHAM YOUTH & COMMUNITY TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MAY 2021

The trustees present their annual report and financial statements for the year ended 31 May 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Objectives and aims

The objectives and aims of the charity are to promote the benefit of the inhabitants, in particular but no exclusively the youth, of Heacham In the county of Norfolk and the neighbourhood without distinctive of sex or of political, religious or other charitable facilities in augmentation of such facilities financed by the local authority.

Public benefit

The trustees have complied with the duty in Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission and consider that they have met the public benefit requirements of the Act, by way of the charity's activities generally and their granting activates in the year.

Soctal investments

The Trustees continue to review any applications for grants and the needs of their area with a view to promote the aim of the charity into the future.

Achlevements and performance

Charitable activities

The grants made during the year are:

Heacham Football Club £2,000

Heacham Infant and Nursery School £2,809.60

in all cases the grants made comply with the objectives and aims of the charity.

Financial review

Reserves policy

The general fund is an unrestricted fund.

| The trustees believe that the charity should hold core financial reserves at a level consistent with the donations | received to date because it has no endowment funding and is therefore entirely dependant on the income arising | from the investment of Its reserves and upon the donor funding from year to year, both of which are inevitably subject to fluctuation.

in line with guidance issued by the Charity Commission the trustees review the charity’s need for reserves annually.

Structure, governance and management

Governing document

The Charity is a company limited by guarantee, not having a share capital. The members of the company are the trustees named below. The liability of the members is limited to a contribution not exceeding £10 in the event of the company being wound up. At 31st May 2021 there were 6 members (2020 - 6). The governing document of the charity Is its memorandum & Articles of Association.

Recruitment and appointment of new trustees

The charitable company may by ordinary resolution appoint any person who is willing to act as a trustee. ' Potential trustees are identified by members of the Board and are considered against specifications concerning eligibility, competence, specialist skills and local availability.

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HEACHAM YOUTH & COMMUNITY. TRUST LIMITED

. TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021 , Mr D Curtis ‘ ME Jennings ; RJ Dix M Pishorn MrPK Sutton © . : MrOD Page ~ ; ; Appyoyed by orderot.the board of trustees on sn fa and signed on Its behalf by: , Secretary a Date: 25 Teeeuanpaa2 . H . . , =2.

HEACHAM YOUTH & COMMUNITY TRUST LIMITED

_[INDEPENDENT][EXAMINER'S][REPORT] TO THE TRUSTEES OF HEACHAM YOUTH & COMMUNITY TRUST LIMITED

| report to the trustees on my examination of the financial statements of Heacham Youth & Community Trust Limited (the charity) for the year ended 31 May 2021.

Responsibilities and basis of report

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As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the
preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the
2006 Act),
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of
the 2006 Act and are eligible for independent examination, | report in respect of my examination of the charity's
financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my
examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)
(bd) Of the 2011 Act.
Independent examiner's statement
| have completed my éxamilnation. | confirm that no matters have come to my attention In connection with thé.
examination giving me cause to believe that in any material respect: oo
1 accounting records were not kept In respect of the charity'as required by section 386 of the 2006 Aat; or
2 the finandlal statements do not accord with those records; or .
3 the financial statements do not comply with the accounting requirements of section 386 of the 2006 Act
other than any requirement that the accounts give a true and falr view which 18 nota matter considered as
part of an independent examination: or
4 the financlal statements have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities applicable to charities
preparing thelr accounts In accordance with thie Financial Reporting Standard applloabie in the UK and
Républlo of Ireland (FRS 102).
should| have nobe concernsdrawn in andthishavereport comeIn acrossorder tono enableother mattersa properIn connectionunderstanding with theof the examinationfinancial tostatements which attentionto be
reached,
Dominic Shaw FCCA
Aston Shaw Limited
The Union Bullding
§1-69 Rose Lane
Norwich
Norfolk
NR1 iBY
England
Dated: HEY fees Zor
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HEACHAM YOUTH & COMMUNITY TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2021

Unrestricted Unrestricted
funds funds
2021 2020
Notes £ £
Income from:
Donations and legacies		 2 36 2,450
Charitable activities 3 18,136 23,351
Investments 4 670 11,199
Total income 18,842 37,000
Expenditure
on:
Charitable activities		 5 11,221 6,221
Net income forthe year/
Netmovement In funds 7,621 30,779
Fund balances at 1 June 2020 421,208 390,429
Fundbalancesat31May2021 428,829 421,208

The statement of financlal activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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HEACHAM YOUTH & COMMUNITY TRUST LIMITED

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BALANCE SHEET

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ASAT 31 MAY 2021 31 MAY 2021 MAY 2021 2021 -

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ASAT 31 MAY 2021 31 MAY 2021 MAY 2021 2021 - oo
2021 2020
Notes — £ £ . £ £
Fixed assets , :
Tangible assets 7 277,746 277,746
Current assets .
Debtors 8 45,013 54,556
Cash at bank and in hand ; 107,188 81,728
oO , 462,201 . 146,284 ,
Creditors: amounts falling due within
one year 9 (1,118) (2,822)
Net current assets 151,083 ‘443,462
Total assets less current liabilities 428,829 ‘ 421,208
Income funds
Unrestricted funds . 428,829 . . 421,208
. , 428,829 " ) 421,208 °
The company Is entitled to the exemption from the audit requirement contained in section 477 of the Companies
Act 2006, for the year ended 31 May 2021,
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of Its financial statements for the year In
question in accordance with section 476. ‘
These financial statements have been prepared In accordance wlth the provisions applicable to companies
subject to the small companies regime.
The financial statements were approved by the Trustees on financial statements were approved by the Trustees on statements were approved by the Trustees on were approved by the Trustees on approved by the Trustees on by the Trustees on the Trustees on Trustees on on WE [ted 2 2
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These financial statements have been prepared In accordance wlth the provisions applicable to companies
subject to the small companies regime.
The financial statements were approved by the Trustees on financial statements were approved by the Trustees on statements were approved by the Trustees on were approved by the Trustees on approved by the Trustees on by the Trustees on the Trustees on Trustees on on WE [ted 2 2
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_ MeLhe :
Trustee
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Company Reglstration No. 05457507

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HEACHAM YOUTH & COMMUNITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

1 Accounting policies

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Charity information

Heacham Youth & Community Trust Limited is a private company limited by guarantee incorporated In England and Wales.-The registered office is 11 King Street, Kings Lynn, Norfolk, PE30 1ET, England.

1.1. Accounting convention

The financial statements have been prepared in accordance with the charity's (governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” ("FRS 102”) and the: Charities SORP “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which Is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include Investment properties and certain financlal instruments at fair value. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting In preparing the financial statements.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy Is treated as a contingent asset.

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HEACHAM YOUTH & COMMUNITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

1 Accounting policies

(Continued)

Expenditure — Expenditure is recognised once there Is a legal or constructive obligation to transfer economic benefit to a third party, itis probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, Including support costs Involved In undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on ‘a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

1.6 Tangible fixed assets

Tangible fixed assets are Initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings - in accordance with the property

The gain or loss arising on the disposal of an asset Is determined as the difference between the sale proceeds and the carrying value of the asset, and Is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of Its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents Include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financlal assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the _ effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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HEACHAM YOUTH & COMMUNITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021 | ee 1 Accounting policies (Continued)

Basic financial liabilities

Basic financial liabilities, including: creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they aré presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabillties

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

2 Donations and legacies

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2021 2020
£ £
Donations 36 2,450

3 Charitable activities

Charitable activities .
Charitable Charitable
Income Income
Total Total
2021 2020
£ £
Charity shop income 11,041 15,126
Minibus income - 940
PAT testing income 109 85
Rental income 6,986 7,200
18,136 23,351

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HEACHAM YOUTH & COMMUNITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

4 Investments

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Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2021 2020
£ £
' Government grants - 10,000
Building society account interest 670 1,199
670 11,199
5 Charitable activities
Charity Charlty
Expenses Expenses
2024 2020
£ £
Rates 902 266
Electric 662 97
Accountancy
Tax
Repairs		 176
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3,164		 1,744
(4,543)
4,378
Insurance 627 593
Minibus expenses - 1,124
Sundry expenses - 457
Donations paid 4,960 2,105
Data/deposit protection 730 -
11,221 6,221
11,221 6,221

5 Charitable activities

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6 Employees

The average monthly number of employees during the year was:

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2021 2020
Number Number
6 6

There were no employees whose annual remuneration was more than £60,000.

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HEACHAM YOUTH & COMMUNITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

7 Tangible fixed assets Tangible fixed assets
Freehold land and buildings
£
Cost
At 1 June 2020 277,746
At31 May2021 277,746
Carrying amount
At 31 May2021 277,746
At 31 May2020 277,746
8 Debtors
2021 2020
Amounts falling due within one year: £ £
Heacham minors loan 45,000 50,000
Other debtors. - - 4,543
Prepayments.and accrued income 13 13
45,013 54,556
9 Creditors: amounts falling due within oneyear
2021 2020
£ £
Accrualsanddeferredincome 1,418 - 2,822

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