**Charity registration number 1127173 (England and Wales) Company registration number 05457507** 

**HEACHAM YOUTH & COMMUNITY TRUST LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025** 



## **HEACHAM YOUTH & COMMUNITY TRUST LIMITED** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

|**Trustees**|Mr D Curtis|
|---|---|
||ME Jennings|
||RJ Dix|
||M Pishorn|
||Mr PK Sutton|
||Mr D Page|
||R M Whybrow|
||Mr G R Pearce|
|**Secretary**|ME Jennings|
|**Charity number**|1127173|
|**Company number**|05457507|
|**Principal address**|5 Strachan Close|
||Heacham|
||King's Lynn|
||Norfolk|
||England|
||PE31 7SB|
|**Registered office**|11 King Street|
||Kings Lynn|
||Norfolk|
||England|
||PE30 1ET|
|**Independent examiner**|Lynn Mandari ACCA|
||Aston Shaw Limited|
||Chartered Certified Accountants|
||The Union Building, 51-59 Rose Lane|
||Norwich|
||Norfolk|
||England|
||NR1 1BY|





## **HEACHAM YOUTH & COMMUNITY TRUST LIMITED** 

## **CONTENTS** 

||**Page**|
|---|---|
|Report of the Trustees|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 11|





## **HEACHAM YOUTH & COMMUNITY TRUST LIMITED** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MAY 2025**_ 

The trustees present their annual report and financial statements for the year ended 31 May 2025. 

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

## **Objectives and activities** 

## **Objectives and aims** 

The objectives and aims of the charity are to promote the benefit of the inhabitants, in particular but not exclusively the youth, of Heacham in the county of Norfolk and the immediate neighbourhood without distinction and, but not necessarily in association or conjunction with voluntary and other organisations with the same intent. 

## **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. 

## **Social 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. 

## **Achievements and performance** 

## **Charitable activities** 

The grants made during the year are: 

Breast Cancer Now £500 Janet Williams £2,920 Heacham Brownies £1,000 J Race (VJ Day) £1,000 Tees Sport (Heacham Table Tennis) £1,800 Heacham in Bloom £100 

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. 

- 1 - 



HEACHAM YOUTH & COMMUNITY . RUST LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORn (CONTINUED)
FOR THE YEAR ENDED 31 MA Y 2025
Structure, governance and management
Governing document
Charity 15 8 company limited by g(tarantee. fiot hamng a share c3pita. The member5 of the conipany are the
trustees nAmed below. Th.e liability of the members Is l." iited to a corlDbution not exceeding £10 in ttte event of the
cnmparly b&ing WOLind up. At 31st May 2025 there were 8 member) 12024 _ 81. The governing document of the
charily is Ils niemor3n<Surn & Articles ol Association.
RÈcrullment and appolntmenl of new trustees
The r.l)ariiahle campany may by ordinary resdubon appoint any pe￿0Th who is w4liThJ to act as a trusiee.
Poloiit131 truslees are ¥denlified by membeTS of the Board and 4re conSide￿d against specIf￿tionS concerning
eligibilily. competence. specialisl skills and,JGqI availability_
Mr D Ciirtis
ME Jennings
RJ Dix
M Pishorn
Mr PK Sutton
Mr D Page
R M Whybrow
Mr G R Pearce
Approved by order of the board of IrLStees and signed ￿ its behalf by".
Sutto
Trustee
Date..

HEACHAM YOUTH & COMMUNITY TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF HEACHAM YOUTH & COMMUNITY TRUST LIMITED
I report to the trustees on my ex8minab.on of the financial ststements of Heacham Youth & Community Trust Lifflited
(the charity) for the year ended 31 May 2025.
Rèsponsibilitiès and basis of report
As the trustees of the charity land also its director5 for the purposes of company lawl. you are responsible for the
p￿paration of the finanual statements in aQWrdan￿ the ￿Uirements of the Companies Act 2006.
Having satssfied myself that the finanaal statements of the chartty are required to bè audited under Part 16 of
the Companies Acl 2￿6 and are eligible lor independent examination. l ￿port in respect of my examination of the
charity's finanrial 5taternents carried out under section 145 of the CharitiesAct 2011. In carrying out my examination
I have followed the Directions given by the Charity Commission under section 14515llbl of the Charits"es Act 2011.
Independent examinerfs statement
I have completed my examination_ I confirm Ihat ￿ matters have come to my altention in connection with the
examination giving me caLse to believe that in any material respÈd-
accounting records were nol kept in respect of the charity as requir&J by section 386 of the Companies Act
2006.
the financial Statements do not accord with tlh)se records", or
the financial ststernents do not comply with accounting WU1￿ments of section 396 of thè Companies Act
2006 other than any requirement that the financial siatements give a Inje and fair wew, which is not a matter
considered as part of an irKlependent exarninab"on- or
the financial statements have not been prepared in accordance th the methcxas and princip￿$ ol the
Stalemenl of Recomrnended Practice fof accounting and reporbng by Charities applicable to Charities
preparing their finanaal statements in accordance the Finanual Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021_
I have no conc8ms and have come across no other maiters in connection the exarllination to which attention
should be drawn in this report in order to enablè a proper understanding of the financial ststements to be reached.
Lynn Mandari ACCA
Aston Shaw Limited
Chartered Certified Acctyjntants
The Union Building, 51-59 Rose Lane
Norwich
Norfolk
NR1 1BY
Engalnd
Dated=
ai10710D?5

## **HEACHAM YOUTH & COMMUNITY TRUST LIMITED** 

## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** 

## _**FOR THE YEAR ENDED 31 MAY 2025**_ 

|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**2**|-|5|
|Charitable activities|**3**|21,519|23,823|
|Investments|**4**|3,820|3,095|
|**Total income**||25,339|26,923|
|**Expenditure on:**||||
|Charitable activities|**5**|13,173|14,543|
|**Total expenditure**||13,173|14,543|
|**Net income and movement in funds**||12,166|12,380|
|**Reconciliation of funds:**||||
|Fund balances at 1 June 2024||493,665|481,285|
|**Fund balances at 31 May 2025**||505,831|493,665|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

- 4 - 



HEACHAM YOUTH & COMMUNITY TRUST LIMITED
BALANCE SHEET
AS A T 31 IklAY 2025
2025
2024
Notés
Fixed a55ets
Tdiigible assets
278,934
278,778
Current asset5
Deblors
Cash al bank and in hand
1U
72.877
155.236
77,013
139,032
228.113
216,045
Creditors.. amounts falling due within
one year
11
{1,2161
11.1581
Nel cuirenl assets
226.897
214.887
Total assels les5 current liabilities
505.831
493.665
Income funds
UnreslriL16d funds
505,831
493.665
505,831
493,665
The company is entitled lo the exemption fr(¥m the audit requiiement i￿ntained in sectk)n 477 of the Companies Act
2006. for the year ended 31 May 2025.
The directors acknowledge their respon5ibililies for complying wth the requitements of the Companies Act 2006
vith rpspect to attr￿untIng rÈcords and the preparalK)wTr of financtal slatemenls.
The mernbers have not r£guir8d Ihe company lo obtain an audit of its finanaa statetTrnts lor lh8 year in question in
accordance with section 476.
ThesE financial staternents have been prepared in acciydance with the provisK)n5 applicable to cornpani8S subiect
lo the small companies regime.
2117 lao49
The Iin<incial slJteFnenls were approved by the Trustees on ................_........
Trustee
Company Registrat40n No. 05457S07

**HEACHAM YOUTH & COMMUNITY TRUST LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MAY 2025**_ 

## **1 Accounting policies** 

## **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" 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)". 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 financial instruments at fair value. The principal accounting policies adopted are set out below. 

## **1.2 Going concern** 

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

## **1.3 Charitable funds** 

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

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

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

## **1.4 Income** 

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 

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

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

- 6 - 



## **HEACHAM YOUTH & COMMUNITY TRUST LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MAY 2025**_ 

## **1 Accounting policies** 

**(Continued)** 

## **1.5 Expenditure** 

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

Expenditure is 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 Plant and equipment 20% Straight line Computer equipment 20% Straight line 

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). 

## **1.8 Cash and cash equivalents** 

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

## **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. 

- 7 - 



## **HEACHAM YOUTH & COMMUNITY TRUST LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MAY 2025**_ 

## **1 Accounting policies** 

## **(Continued)** 

## _**Basic financial assets**_ 

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

## _**Basic financial liabilities**_ 

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

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

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

## _**Derecognition of financial liabilities**_ 

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

## **1.10 Employee benefits** 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

## **2 Donations and legacies** 

||**Total **|**Unrestricted**|
|---|---|---|
|||**funds**|
||**2025**|**2024**|
||**£**|£|
|Donations|-|5|



- 8 - 



## **HEACHAM YOUTH & COMMUNITY TRUST LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## _**FOR THE YEAR ENDED 31 MAY 2025**_ 

## **3 Charitable activities** 

||**Charitable**|**Charitable**|
|---|---|---|
||**Income**|**Income**|
||**Total**|**Total**|
||**2025**|**2024**|
||**£**|**£**|
|Charity shop income|14,319|16,623|
|Rental income|7,200|7,200|
||21,519|23,823|



## **4 Investments** 

|||**Unrestricted **|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Building society account interest|3,820|3,095|
|**5**|**Charitable activities**|||
|||**Charity**|<br>**Charity**|
|||**Expenses**|**Expenses**|
|||**2025**|**2024**|
|||**£**|**£**|
||Depreciation and impairment|288|280|
||Rates|542|282|
||Legal and professional fees|35|-|
||Accountancy|1,229|1,047|
||Shop expenditure and Repairs|1,954|4,966|
||Insurance|316|-|
||Donations paid|7,320|6,971|
||Youth Action Events Day (YAED)|-|594|
||Entertainment|468|403|
||Santa's Sleigh|1,021|-|
|||13,173|14,543|
|||13,173|14,543|



- 9 - 



## **HEACHAM YOUTH & COMMUNITY TRUST LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## _**FOR THE YEAR ENDED 31 MAY 2025**_ 

|**6**<br>**Net movement in funds**<br>The net movement in funds is stated after charging/(crediting):<br>Fees payable for the independent examination of the charity's financial<br>statements<br>Depreciation of owned tangible fixed assets<br>**7**<br>**Employees**<br>The average monthly number of employees during the year was:<br>There were no employees whose annual remuneration was more than £60,000.<br>**Remuneration of key management personnel**<br>The remuneration of key management personnel was as follows:|**2025**<br>**£**<br>1,216<br>288<br>**2025**<br>**Number**<br>8|**2024**<br>**£**<br>1,158<br>280|
|---|---|---|
|||**2024**<br>**Number**<br>8|
||||



## **8 Taxation** 

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 

## **9 Tangible fixed assets** 

|**Freehold land**<br>**and buildings**<br>**Plant and**<br>**equipment**<br>**Computer**<br>**equipment**<br>**£**<br>**£**<br>**£**<br>**Cost**<br>At 1 June 2024<br>277,746<br>1,400<br>-<br>Additions<br>-<br>-<br>444<br>At 31 May 2025<br>277,746<br>1,400<br>444<br>**Depreciation and impairment**<br>At 1 June 2024<br>-<br>368<br>-<br>Depreciation charged in the year<br>-<br>266<br>22<br>At 31 May 2025<br>-<br>634<br>22<br>**Carrying amount**<br>At 31 May 2025<br>277,746<br>766<br>422<br>At 31 May 2024<br>277,746<br>1,032<br>-|**Total**<br>**£**<br>279,146<br>444|
|---|---|
||279,590|
||368<br>288|
||656|
||278,934|
||278,778|



- 10 - 



## **HEACHAM YOUTH & COMMUNITY TRUST LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MAY 2025**_ 

## **10 Debtors** 

|**Amounts falling due within one year:**<br>Loans<br>Prepayments and accrued income<br>**11**<br>**Creditors: amounts falling due within one year**<br>Accruals and deferred income|**2025**<br>**£**<br>72,499<br>378<br>72,877<br>**2025**<br>**£**<br>1,216|**2024**<br>**£**<br>77,000<br>13|
|---|---|---|
|||77,013|
|||**2024**<br>**£**<br>1,158|



## **12 Unrestricted funds** 

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. 

||**At 1 June**|**Incoming**|**Resources**|**At 31 May**|
|---|---|---|---|---|
||**2024**|**resources**|**expended**|**2025**|
||**£**|**£**|**£**|**£**|
|General funds|493,665|25,339|(13,173)|505,831|
|**Previous year:**|**At 1 June**|**Incoming**|**Resources**|**At 31 May**|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|General funds|481,285|26,923|(14,543)|493,665|



- 11 -