Company registration number: 05457507 Charity registration number: 1127173
HEACHAM YOUTH & COMMUNITY TRUST LIMITED TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2026
Heacham Youth & Community Trust Limited Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2—3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities (including Income and Expenditure Account) | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7—12 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Statement of Financial Activities (including Income and Expenditure Account) | 13 |
Heacham Youth & Community Trust Limited Reference and Administrative Details For The Year Ended 31 May 2026
| Trustees | Mr M E Jennings - Chair |
|---|---|
| Mr D J Curtis | |
| Mr R J Dix | |
| Mr D Page | |
| Mr M Pishorn | |
| Mr P K Sutton | |
| Mrs R M Whybrow | |
| Mr G R Pearce | |
| Charity Number | 1127173 |
| Company Number | 05457507 |
| Principal Address | 5 Strachan Close |
| Heacham | |
| King's Lynn | |
| Norfolk | |
| PE31 7SB | |
| Registered Office | 11 King Street |
| King's Lynn | |
| Norfolk | |
| PE30 1ET | |
| Independent Examiner | Lynn Mandari ACCA |
| Aston Shaw | |
| The Union Building | |
| 51-59 Rose Lane | |
| Norwich | |
| NR1 1BY |
Page 1
Heacham Youth & Community Trust Limited Company No. 05457507 Trustees' Report For The Year Ended 31 May 2026
The trustees present their report and the financial statements for the year ended 31 May 2026.
Objectives and Activities
Aims and Objectives
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.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
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
Main Achievements
The grants made during the year are:
Breast Cancer Now £500 Pentanque Club £1,375 Guide Association £720.10 Scallywags £1,445 Heacham Parish Council £75 Heacham in Bloom £200 Smithdon School £1,350
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 2026 there were 8 members (2025 - 8). The governing document of the charity is its memorandum & Articles of Association.
Page 2
Heacham Youth & Community Trust Limited Trustees. keport (continued) For The Year Ended 31 May 2026 Trustee Selectlon Metho(J5 The charitable cornpany may by ordinary resdution appoint any peT50n who 15 willing to art as a trustee. Potential trustees Idenlified by rnÈmbers of the Board and are considered againsi spe£ifitabons contÈrning Èligibilityi competenc£, speria115t ski115 and locol ovailability. Small Company Rules Thig rtport has beon prepared In accordance with the speaal pmvisions relating ¢0 companies sublort to the Small companios roqime within Part 15 of the Coinpanies Art 2006. The trustees, report was approved by the brd of trustees anLI signed on its behalf bv.. Mr P K Sutton TrusiÈÉ Dato 317 Page 3
Heacham Youth & Community Trufjt Limited Independent Examiner'5 Report to the Trustees of Heacham Youth & Community Trust Limited For The Year Ended 31 May 2026 I pOrt to the trustees on my examination of the accounts of the Charity for the yr ended 31 May 2026. Responsibilities and Basis of Report As the trustees of the Charity land also It5 dirertors for the purposes of cornpany lawl, you are Sponsible for the preparation of the accounts in èttordance with thÈ re4uii ment5 of the Companies Act 2006 {-Ihe 2006 Att~l. Hèving 5at15fied myself that IhÈ attounts of thÈ Charity a not required to be audited under Part 16 of the 2006 Act and are eligible for Independent examinarion, r report In respert of my exatnination of your chanty s accounts as carried out under spctinn L45 of the CharitiÈs Act 2011 I'lhe 2011 Act'l- In cèrrying ouk my examination I have followed the Clirection5 given by thE Charity Commission tjnder sertion 145151 Ibl of the 2011 Art. Independent Examiner's Statement have cofflpleieo my examination. I confirm that no matters have come to my attention In connection with the exèmination oivin9 me ca115e to believe.. l. accounting rocords were not kept in respect of tho Charity as reqvired by 5ertion 386 of the 2006 Art; or 2. the accourTrt5 do not accorLI with those record5.' or 3. the accounts do not comply with the accounting requirements of sectton 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an in(Jependent exarTrination.' or d. the accourlts have not been prepared in accordance with the methods and pnnciples of the Staternent of Recommende<S PracLice for accounling and reporting by charities appliCae to charities prÈparing their actounts In accordance with the Financial Reporti-g Standard applicable in the UK awKJ Republic of Iland IFRS 1021. J h3ve no concerns and have come across no other matti.s in connertton with the examination to V4hich arrention should be drawn in tbis report in order to enable a proper un*Jerstanding of the accounts to be reached. Lynn Mandari ACCA i)ate The Union Building 51-59 Rose l ane Norwich NRI IBY olloi l)oJ6 Page 4
Heacham Youth & Community Trust Limited Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 May 2026
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities 4 Investments 5 EXPENDITURE ON: Charitable activities 7 NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 16 |
2026 Unrestricted funds £ 218 26,056 3,603 |
2025 Unrestricted funds £ - 21,519 3,820 |
|---|---|---|
| 29,877 | 25,339 | |
| (13,518) | (13,173) | |
| 16,359 | 12,166 | |
| 16,359 505,831 |
12,166 493,665 |
|
| 522,190 | 505,831 |
The notes on pages 7 to 12 form part of these financial statements.
Page 5
Heacham Youth & Community Trust Limited Balance Sheet A5 At 31 May 2026 2026 2025 Unrestricted funds Total fund$ Note5 FIXED ASSETS Tangible A55ets 13 278.565 278,934 278,565 278.934 CURRENT ASSETS Debtors 14 63.653 181,188 72,877 155,236 Cash at bank and in hand 244,841 228,113 Creditors: Amounts Falling Due Within nne Year 15 11.2161 11,2161 NET CURRENT ASSETS (LIABIUTIES) 243,625 226,897 TOTAL ASSETS LESS CURRENT LIABILITIES 522.190 505,831 NET ASSETS 522.190 505,831 FUNDS OF THE CHARtrY UnrestricLed Funds 522,190 505,831 TOTAL FUNDS 16 522.190 505,831 For tl)e year ending 31 Mèy 2026 the charitable company was entitled to exÈmptt(>n from audit under section 477 of the Ccinipanies Act ?006 relating to small Companies. The members have not required the company to obtain an audit in accwdantr wlth sectlDn 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Art V4ith respect to accounting records and thE preparatlDn vf accounts. These 41ccounts have been prepared in accordan with t. e provison5 applicable to companies subject to ihe small companie5 regime. On behalf of the board Mr P K Sutton Trustee Dèlt 102G The noles on pagÈs 7 to 12 form part of thÈsÈ financial statements. Page 6
Heacham Youth & Community Trust Limited Notes to the Financial Statements For The Year Ended 31 May 2026
1. General Information
Heacham Youth & Community Trust Limited is a company limited by guarantee, incorporated in England & Wales, registered number 05457507 and registered charity number 1127173. The registered office is 11 King Street, King's Lynn, Norfolk, PE30 1ET.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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.
The charitable company is a Public Benefit Entity as defined by FRS 102.
2.2. Going Concern Disclosure
The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charitable company's ability to continue as a going concern.
2.3. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.
Restricted funds are to be used for specific purposes as laid down by the donor.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2.4. Incoming Resources
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.
2.5. Resources Expended
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.
Page 7
Heacham Youth & Community Trust Limited Notes to the Financial Statements (continued) For The Year Ended 31 May 2026
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold - in accordance with the property Plant & Machinery 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.
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).
2.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.8. 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 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.
3. Income from Donations and Legacies
Page 8
Heacham Youth & Community Trust Limited Notes to the Financial Statements (continued) For The Year Ended 31 May 2026
| Donations and gifts: Donations 4. Income from Charitable Activities Charitable activities: Charity shop income Rental income 5. Investment Income Building society account interest 6. Net Income/(Expenditure) The net income is stated after charging/(crediting): Depreciation of tangible fixed assets - owned 7. Analysis of Expenditure Charitable activities Charitable activities |
Activities undertaken directly (see note 8) £ 12,302 |
2026 Unrestricted funds £ 218 |
2025 Unrestricted funds £ - |
|---|---|---|---|
| 2026 Unrestricted funds £ 18,856 7,200 |
2025 Unrestricted funds £ 14,319 7,200 |
||
| 26,056 | 21,519 | ||
| 2026 Unrestricted funds £ 3,603 |
2025 Unrestricted funds £ 3,820 |
||
| 2026 £ 369 |
2025 £ 288 |
||
| Support costs (see note 9) £ 1,216 |
2026 Total £ 13,518 |
||
| Activities undertaken directly (see note 8) £ 11,944 |
Support costs (see note 9) £ 1,229 |
2025 Total £ 13,173 |
Page 9
Heacham Youth & Community Trust Limited Notes to the Financial Statements (continued) For The Year Ended 31 May 2026
8. Direct Costs
| General administration: Insurance Rates Legal and professional fees Shop expenditure and Repairs Donations paid Entertainment Santa's Sleigh Depreciation: Depreciation General administration: Insurance Rates Legal and professional fees Shop expenditure and Repairs Donations paid Entertainment Santa's Sleigh Depreciation: Depreciation 9. Support Costs Governance costs: Independent examiner's fees |
2026 Charitable activities £ 687 208 197 4,652 5,665 450 74 369 |
|---|---|
| 12,302 | |
| 2025 Charitable activities £ 316 542 35 1,954 7,320 468 1,021 288 |
|
| 11,944 | |
| 2026 Charitable activities £ 1,216 |
Page 10
Heacham Youth & Community Trust Limited Notes to the Financial Statements (continued) For The Year Ended 31 May 2026
| 2025 | |
|---|---|
| Charitable | |
| activities | |
| £ | |
| Governance costs: | |
| Independent examiner's fees | 1,229 |
10. Independent Examiner's Remuneration
| 0. Independent Examiner's Remuneration |
||
|---|---|---|
| 2026 | 2025 | |
| £ | £ | |
| Independent examination of the financial statements | 1,216 | 1,229 |
11. Average Number of Employees
Average number of employees during the year was: 8 (2025: 8)
12. Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
13. Tangible Assets
| Cost As at 1 June 2025 As at 31 May 2026 Depreciation As at 1 June 2025 Provided during the period As at 31 May 2026 Net Book Value As at 31 May 2026 As at 1 June 2025 14. Debtors Due within one year Prepayments and accrued income Loans |
Land & Property Freehold £ 277,746 |
Plant & Machinery £ 1,400 |
Plant & Machinery £ 1,400 |
Computer Equipment £ 444 |
Total £ 279,590 |
|---|---|---|---|---|---|
| 277,746 | 1,400 | 444 | 279,590 | ||
| - - |
634 280 |
22 89 |
656 369 |
||
| - | 914 | 111 | 1,025 | ||
| 277,746 | 486 | 333 | 278,565 | ||
| 277,746 | 766 | 422 | 278,934 | ||
| 2026 £ 653 63,000 63,653 |
2025 £ 378 72,499 |
||||
| 72,877 |
Page 11
Heacham Youth & Community Trust Limited Notes to the Financial Statements (continued) For The Year Ended 31 May 2026
15. Creditors: Amounts Falling Due Within One Year
| Accruals 16. Movement in Funds Unrestricted funds General: General unrestricted fund Total funds Unrestricted funds General: General unrestricted fund Total funds |
As at 1 June 2025 £ 505,831 |
Income £ 29,877 |
2026 £ 1,216 Expenditure £ (13,518) |
2025 £ 1,216 |
|
|---|---|---|---|---|---|
| As at 31 May 2026 £ 522,190 |
|||||
| 505,831 | 29,877 | (13,518) | 522,190 | ||
| As at 1 June 2024 £ 493,665 |
Income £ 25,339 |
Expenditure £ (13,173) |
As at 31 May 2025 £ 505,831 |
||
| 493,665 | 25,339 | (13,173) | 505,831 |
17. Transactions with Trustees
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
18. Related Party Disclosures
There have been no related party transactions in the reporting period that require disclosure.
19. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £10.
Page 12
Heacham Youth & Community Trust Limited Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 May 2026
| INCOME AND ENDOWMENTS FROM: Donations and legacies Donations Charitable Activities: Charitable activities Charity shop income Rental income Investments Building society account interest EXPENDITURE ON: Charitable Activities: Charitable activities Insurance Rates Legal and professional fees Shop expenditure and Repairs Donations paid Entertainment Santa's Sleigh Depreciation Independent examiner's fees NET INCOME |
2026 Total funds £ 218 |
2025 Total funds £ - |
|---|---|---|
| 218 18,856 7,200 |
- 14,319 7,200 |
|
| 26,056 3,603 |
21,519 3,820 |
|
| 3,603 | 3,820 | |
| 29,877 (687) (208) (197) (4,652) (5,665) (450) (74) (369) (1,216) |
25,339 (316) (542) (35) (1,954) (7,320) (468) (1,021) (288) (1,229) |
|
| (13,518) | (13,173) | |
| (13,518) | (13,173) | |
| 16,359 | 12,166 |
Page 13