Charity re9istration number 1127173 Company registration num 054S7507 (England and Walesl HEACHAM YOUTH & COMMUNITY TRUST LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
HEACHAM YOUTH & COMMUNITY TRUST LIMITED LEGALAND ADMINISTRATIVE INFORMATION Trustees Mr D Curtis ME Jennings RJ Dix M Pishom Mr PK Sutton Mr D Page R M Whybrow Mr G R Pear¢ Secretary ME Jennings Charity number 1127173 Company number 05457507 Principal add$$ 5 Strachan aose Heacham King's Lynn Norfolk EnglaThJ PE31 7SB Registered office 11 Kin9 Street Kings Lynn Norfolk England PE30 1ET Independent examlner Solos Christophi FCCA Aston Shaw Limited Chartered Certified Accounlants The Union Building, 51-59 R¢)5e Lane Norwrth Norfolk England NR1 1BY
HEACHAM YOUTH & COMMUNITY TRUST LIMITED CONTENTS Page Report of the Tnjstees Statement of financial activtbes Balanr£ sheet Notes to the financial statements 6-11
HEACHAM YOUTH & COMMUNITY TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPOR FOR THE YEAR ENDED 31 MAY2024 The trustees present their annual report and finanoal slatements for the year ended 31 May 2024. Th8 finanaal statements have been prepared in accordance wilh Ihe accountsng policies set out in note 1 to the finana81 statements and comply with the chartty's memcirandum and articles ol association, thè Companies Act 2006 and Accounting and Reporting by Charities- Statement of Recornrnended Practice applicable to charib.es preparing Iheir a¢ in accordance with the Finanryal Re[tsn9 Standard appIlble in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. Objectives and activities Obleclives and aims The objectives and aims of the (harity are to promote Ihe benefit of the inhabiiants, in parb'cular but no exclusively the youth, of Heacham in the ctsjnty of Norfolk and the immediate neighbourhood wthout dislinction and, but not necessarity in associats.on or conjunction wrth votuntary and other organi5alions wth ihe same intent. Public benefit The truslees have complied with the duty in Chaiities Art 2011 to have due regard to public benefit guidance published by the Charities Commission and consider that Ihey have mel the public benefit requirements of the Act, by way of the charity's acÉivities generally and their grantsng activates in the year. So¢ial investments The Trustees Continue to review any applications for grants ar the needs of their area with a view to pitsmote the aim of the charity into the future_ Achievements and perf0mnce Charitable activities The grants made during the year are- D8fenc8 composi(es (Wltdfers) £420 Janet Williams £3,000 JGDATA£2,101 Heacham Methodist Church £350 H8acham Judo Club £200 He8charn Brownies £150 Pocahontas Players £1.000 Heacham in Bloom £100 In all cases the grants made comply wlh the objectives and aims of the charity. Financial review Reserves poltcy The general fund is an unresthded fund. The trustees believe that the charity should hold core financial reserves at a level consistent with the donations ceived to date because it has no endowment funditwJ and is therefore entirely dependant on the income arising from thè investment of its reseNes 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 ComrnissiorF Ihe Iruslees review the charity's need for ieserves annually.
HEACHAM YOUTH & COMMUNITY TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Structure. govemance and management Governing document The Chaty is a company limited by guarantee, not having a share capital. Tr member5 of the company are the trustees named below. The liability of the members is litnited to a contribution nol exceeding £10 in the event of the cornpany being wound up. Al 31st May 2024 there weie 8 membets12023 81. The goveming document of the charity is its rnemorandum & Arkncles olAsswation. Recruitment and appoirrtment of new trustees The charitable company fflay by ordinary $OlUtion appoint any person who is wiifing to act as a trustee. Potential Iruslees are identified by rnembers of the Board and are considered against speufications Conrning eligibilty, competence. specialist skills arKI IOCAI availability. Mr D Curtis ME Jennings RJ Dix M Pishom Mr PK Sutton Mr D Page R M Whybrow Mr G R Pearce Appr9ved by order of the board ol tnJslees and sned on its behalf by= Mr PK Suiton Trustee Dale=
HEACHAM YOUTH & COMMUNITY TRUST LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEACHAM YOUTH & COMMUNITY TRUST LIMITED I report lo the trustees my examination of the financial statements of HhaM Youth & Community Trust Limited Ithe charity) lor the year ended 31 May 2024. Responsibilities and basis ot report As the trustees of the charity land also lis directors for the purposes of company lawl you are responsible for the preparation ol the financial statements in accordance with the requirements of the Companies Act 2006 Ithe 2Q06 Act). Having satisfied myself that the finanaal statements ol the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in SpeCt of my examination of the chariws finanaal statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carying out my examination I have followed all the applicable Directions gNen by the Charity Commission under secb'on 14515llbl ol the 2011 Act. Independent examinerfs ststement I havè completed my éxamination. l eonfim Ihat matters hav$ comè to my attentKJn in connection wth the examination giviry me cause to believe that in any marial respecL aecounts.ng records weie not kept in Fespect of the charity as required by seclion 386 of the 2006 Act- or ihe finanaal statements do not accord with those records- or the finanaal statements do not comply wtlh the attounting wuirements of section 396 of the 2006 Acl other than any requirement that the accounts give a true and fair eW which is not a matter considered as part of an independent examination" or Ihe financial slalemenls have not been pPared irt accordance the methcxys and principles of the ststement ol Recommended Praclice for accounting and reporting by charilies applicable to charities preparing their accounts in accordance th the Finan(ial ReFK)rting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concems and have come across no other matters in connection th the examination to which attention should be drawn in this rèport in order to enable a proper understanding of the financial statements to be reached. Sotos Chri5tophi FCCA Aston Shaw Limited Chartered Certified Accountants The Union 8uililing. 51-59 Rose Lane Norrich Norfolk NR1 1BY England Dated". 3010319025
HEACHAM YOUTH & COMMUNITY TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2024 Unrestricted funds 2024 Unr85tricted funds 2023 Notes Income from.. Donations and legacies Charitable activiti.es Investments 73.080 23,358 1,235 23.823 3,095 Total income 26.923 97,673 Expenditu on: Charitsble acbvities 14.823 33,060 Tot31 expenditur• 14.823 33,060 Net income and movement in funds 12,100 64.613 Reconciliation of funds: Fund balanS al 1 June 2023 481,285 416,672 Fund balances at 31 May 2024 493.385 481.285 The statement ol finanual activilies indudes all gains and losses recognised in the year_ Al incornt and expenditure derive from continuiwJ activities.
HEACHAM YOUTH & COMMUNITY TRUST LIMITED BALANCE SHEET ASAT 31 MAY 2024 2024 2023 Notes Fixed assets TangitAe assèts 278,778 278,708 Current assets Debtors Cash al bank and in hand 10 77.013 139.032 48.513 155,2TI 216.045 203.790 Creditors.. amounts falling du• within one year 11 {1.1581 11.2131 Nel current assets 214,887 202.577 Total assets less current liabiltties 493.665 481.285 Income funds Unrestricted funds 493.665 481,285 493,665 481.285 The cotnpany is entiued to the exempbon from the audtt requiremenl contained in section 477 of the Companies Act 2006. for the year ended 31 May 2024. The directors acknowledge their responsibilities for complyng wth the requirements ot the Companies Act 2006 th re5PeCt to accounb.ng records an¢J the preparation of financial statements. The members have nol requireil the cA)mpany lo (*&tain an audit of its finanaal siatements for the year in question in accordance with section 476. These financial statements have been prepa in accordance with the prowgor)s applicable to companie5 subject to the small companie5 regime. The financial siatements were approved by Ihe Trustees on_-----.---- 2< MrP Sullon TTUStee Company Registration No. 05457507
HEACHAM YOUTH & COMMUNITY TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MA Y 2024 Accounting policies CharSty infomiation Heacham Youth & Community Trust Limrte(l is a private company limiied by guarantee incorpoiated in England and Wales. The registered office is 11 lQ"ng StreeL lfjngs Lynn. Norfojk. PE30 1ET. England. 1.1 Aeeountlng convention The financial statements have been prepared in accordance Uie charity's Igoveming documenti. the Companies Act 2006, FRS 102 Ihe Financial Reporbn9 Starbdard applicable in the UK and Republic of Ireland. I"FRS 102.1 and the Charities SORP "Acc(KJnbng and Repotting by Charities.. Statement of Recommended Practice applicable io charilies pparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of [land IFRS 1021" lellective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The chanty has laken advantage gf the provisions in the SORP for charitses not to prepare a Statement of Cash Flows. The finanual statements are prepared in sterfing. Wh is Ihe functional (xjrrency of Ihe charity. Monetary amounts in these ffinancial 5taternents are rounde(t to ihe nearest £. The finanoal statements have been prepared under th8 histori1 cost convention, modified to includ8 the revaluation ol freehold properties and to indude investment properbes and certain finanaal instruments at fair V31ue. The pnnapal accounting pdiaes adopted are sel out below. 1.2 Golng concern At the tirne of approving the financial statements, the truslees have a reasonable expeGtsb"on that the charity has adequate resources to continue in operational existence fof the foreseeable future. ThLJS the trustees continue lo adopt the going concem basis of ar£ounting in preparing U)e financial ststements. 1.3 Charitable funds Unrestricted funds are avatlable for use at the discretion of the truslees in furtherance of their charitable objectives. Restricted funds are subjecl to specrfic nAlonS by donors or grantors as to how they may be used. The purposes and uses of the resiricled lunds are set out in the note5 to the fiTrancial stalements. Endowment funds a subiecl lo speufic condilions by dorKN5 that the capital must be maintained by the tharity. 1.4 Income Incoffte is recognise¢J when the charity is Segally entiued to Èi after any perfomance condilions have been met. the amounts can be measured reliably. and Él is Probable that inwme will be ieceived. C85h donations are iecognised on reIPt. Other donations are recognised once the charity has been notified of the donation, unles5 performance conditions reqtjtre deferral of the amount. Income tax rectsverable in relation to donations received under Grft or deeds of covenant IS Teccpjnised at the time of the donation. Legacies are recognised on receipt or otheAvrse if the charity has been noty.fied of an impendin9 distribution, the amounl is known. and receipt i5 expected. W the amount is not known. the legacy is treated as 8 contingent asset.
HEACHAM YOUTH & COMMUNITY TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Accounting poliei8s {Continu8d} 1.5 Expenditure Expenditure is recognised once the is a legal or constwcbve obligation to transfer economic benefil to a third party. it is probable that a transfer ol eojnomic benefits wll be required in setUemÈnt, and the amount of the obligation can be measured reliably. Expenditure is dassified by a¢b"vty. The costs of eath actiwty are made up of the total of direct costs and shared costs. including support costs involved in undertaknng each activity. Direct costs attributable to a sing activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which a not attributable lo a single activity are apportioned belween those activities on a basis COll51Stent with the use of resou$. Central stsft costs are allwated on thè basis ol time spent, and depr8ciation charges are allocated on the Fy)rtion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are injlially measured at rxjst and subsequ8nlly mèasured al cost or valuation. net of dePCIall0n and any impaimient losses. Depreaation is recognised so as to write off the cosl or valuation of assets less their residual values over their useful Iwes on the following bases-. Freehold land and buikdings Plant and equipment - in accordance the prortY 20% straht ling The gain cw loss arising i)n the disposal of an asset is determined as the differen between the sale proceeds nd the carrying value of the asset. and is recognised in the staiemenl of finanual activits"es. 1.7 Impairment of fixed assets At each reporting end dale. ihe charity reviews the carrying arTntS of its tangible assets to detemiine whether there Is any indication that ihose assets have suffered an impairrnent loss. 11 any such indication exisis. the rewverable amounl ol the assel is eslimated in order to detemiine the extent of the itnpairmènt loss lif anyl. 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposits hekl al call bank5, Other short-term liquid investrnent5 Wlth onginal rnaturities ol three months or less. and bank overdrafts. Bank overdrafts are shown thin borrowings in currenl liabilities. 1.9 Finaneial instruments The charity has elected to appty Ihe provisions of Section 11 '8a5ic Financial Instruments, and Section 12 'othèr Financial Instruments Issues. of FRS 102 lo all of its finaftiial inslrufflenls. Financi81 instruments are recogni5ed in the charitys balance sheet when the charity becomes party to the contractual provisions of the instrument Financial assets and liabililj'es are offset. with the net affK)unts presented in the financial statements. when there is a legally enforceable right to sel off the recognised affntS and there is an intention to settle on a net basis or to Tealisè the asset and set¥e the liability s1mullarwuy. Basic financial assets Basic financial assets. which include debtor5 and cash and bank balances. are initialty measured at transaction price including transaction costs and are subsequently carried at amortised cost u&ng the effective interest method unless the arrangement constitutes a finanring transaction. where the transaction is rneasured al the present value of the futu receipts discounled al a market rate of interest. Financial assets dassified as receivable within one year are not amthtsed.
HEACHAM YOUTH & COMMUNITY TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Accounting policies (Continued) Basic financial liabilities Basic financial liabilities, induding uediiors and bank loans are instially cOgniSed at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measure¢J at the psent value ol the future paymenls discounte¢J at a markel rate ol interest Finanoal lial>lities classified as payable wthin one year are nol amortised. Debt instruments are subsequenuy carried at amorlised cost. using the effecbve interest rate method. Trade credrtors are obligations io pay for g)dS or serwces that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as rnt liabilities il payment is due within one year or less. 11 not, they a psented as nortrtsJrtent liabilth"es. Trade cdItorS are recognised iniiially at transaction prrce and subsequently measured at amorlrsed cost usirNJ Ihe effective InteSt method. Dèrecognition of financialliabilities Financial liabilities are derecognised when the Lthrity's contractual obligab.ons expiie or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the perv)J in which the employee's services are received. Termination benefits are recognised imJnediÈtety as an expense when the charity is demonstrably committèd to terminate the employmenl of an employee or to provide temiinab.on benefits. Donations and legacies Unrestri¢led Unreslri¢ted funds funds 2024 2023 Donations Return of Donation 208 72.872 73,080
HEACHAM YOUTH & COMMUNITY TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Charitable activitses Charitable CharÉtable Income Income Total Total 2024 2023 Charity shop income PAT testing income Rgnlal income Youth Action Events Day IYAEDI 16.623 15,863 22 7,200 273 7,200 23.823 23.358 Investsnents Unrestricted Unrestricted funds funds 2024 2023 Building sooety accounl interest 3.095 1,235 Charitable activities Charity Expenses 2024 Charity Expenses 2023 Depreaation and impaiment Rates A¢countan¢y Repairs Insufftnce Donations paid Dalaldeposit protection Entertainment 210 282 1.047 4,966 88 205 1,213 6,991 551 21.212 2.080 720 7.321 594 403 14.823 33,060 14.823 33.060
HEACHAM YOUTH & COMMUNITY TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Net movernent in fvnds 2024 2023 The nel movement in luThJs is stated after IBrgrryllcreditingl'. Depreciation ol owned tangible fixed assets 210 88 Employees The average monthly number of employees during the year was: 2024 Nurnber 2023 Number There were no employees whose annual remunerats.on was ffl0 than £60.000. R•muneration ot key management personnel The remunerabon of key management personnel was as follows= Taxation The charity is exempt from taxab.on on tts activilies because all its in(ome is appld for charitable purposes. Tan9ible fixed assets Freehold tand and build$ Plant an eqUipMet Total Cost At 1 June 2023 277.746 1,050 278,796 Al 31 May 2024 277.746 1.050 278,796 Depreciation and impaimient At 1 June 2023 DepatIOn charged in the year 88 210 88 210 At 31 May 2024 298 298 Carrying amount At 31 May 2024 277.746 752 278.498 At 31 May 2023 2TI.746 962 278.708 10-
HEACHAM YOUTH & COMMUNITY TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 10 Debtors 2024 2023 Amount5 falling due within one year. Loans Prepaytnents and accrued income 77.000 48.500 13 77,013 48,513 11 Credltors.. amounts falling due within one year 2024 2023 Accnjals and deferred income 1.158 1.213 12 Unrestsicted fvnds The unresthcted funds of the charity comprise the unexpended balances of donations and grants which are not subject io spectfic conditions by donors and grantors as to how they may be used. These include designated funds whith have been sel aside out ol unre5trthd (und5 by the trustees lor speafic purposes_ At 1 June 2023 Incomin9 resources Resources expended At 31 May 2024 General fuThJs 481.285 26,923 114,8231 493,385 Previous year. At 1 June 2022 Incoming resources Resources expended At 31 May 2023 General funds 416,672 97,673 133,0601 481.285 11