Règistered number: 06844711 Charity number: 1128752 HOLT YOUTH PROJECT LIMITED (A Company Limited by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Charity. its Trustees and Advisers Trustees. Report Independent Exarniner's Report Statement of Financial Activities Balanc8 Sheet 10- 11 Notes to the Financial Statements 12-32
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Thomas Hum8, Chair from 16 January 2024 Stuart Ross, Acting Chair from 13 July 2023 to 15 January 2024 Nigel Flower, Secretsry Roger Unite, Treasurer Colin Scoles Susan Roberts (resigned 6 November 20241 Rodney Smith Georgina Sargent Charles Barratt lappoinled 12 March 2024} Mark Nicholas (appointed 12 March 20241 Company registered number 06844711 Charity registered number 1128752 Registered office Old Station Way Off Hempstead Road Holl Norfolk NR25 6DH Accountants MA Partners LLP 7 The Close Norwich Norfolk NR1 4DJ Page 1
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEl4lBER 2024 The Trustees present their annual report together with the financial statements of the Charity for the year 1 January 2024 to 31 December 2024. The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and financial statements of the charitsble cornpany comply with the current ststutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Praolice ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 20191. sin the Charrfty qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors. Report) Regulations 2013 has been omitted. Objectives and activities a. Policies and objectives Holt Youth Project Limited's IHYPI objective is lo provide a safe environment Whe the young people of Holt and the surrounding area can meet, socialise and advance their personal skills under the watchful and kindly eye of a team of committed adults. A degree of education is provided within a warm atmosphere where behaviours, responsibility and self-esteem are all enhanced. We provide a very wide range of activities that ensures broad appeal lo all of the diverse young people we support. Other youth-focused organisalions use the facilities with the result that between us a full program continues al weekends 2nd during half terms and school holiday3. In setting objectives and planning for activities, the Trustees have given due consideration lo general guidance published by the Charity Cornmission relating lo public benefit, including the guidance 'Public benefit= running a charity IP821'. b. Volunteers Our volunteers support the permanent trained staff in the charity's 2Ctivities and are supervised by those staff at all times. Page 2
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and perfomiance a. Review of activities We started 2024 bolstered by a funding support commitment from the National Lottery Community Fund INLCFI for the next 3 years, but mindful that this was not an excuse lo rest on our laurels. As such we recruited 3 new trustees, all very experienced in fundraising generally and in Norfolk in particular. As such we have formulated a sustainable fundraising strategy which we hope will make us well placed to continue at the same level of service when support from NLCF finishes al the end of2026. There have been seismic changes to the funding model of young carers which has seen the work ntralIsed. Vve felt that it was important to continue lo run the group to support those unable to access the new service, but our numbers and external funding for that have dropped considerably. However, we still maintain close links with all the local schools lo ensure we are idenlifw.ng and helping vulnerable young people. NLCF have funded our Resilient Together program which is the banner under which all our groups run, with the exception of ACT. Our strategy remains continuously to assess young people's needs within our local commLJnities and lo adapt our offering to meet these needs. As such we started a new group called SPace. which aims to cater to those most al risk and unable lo access our other groups. Much of this work is on a 1=1 basis and although time consuming and labour intensive, it is already delivering enormous positive impact on the lives of these young people. During 2024 we have seen a small increase in the number of children and young people served. although this has come from considerable change within certain groups. This is illustrated by the table below. We served a total of 376 children and young people during the year, a 6°/0 increase over 2023. We believe that offering positive, fun and challenging activities as an alternative lo the possibility of antisocial behaviour and safeguarding issues at home or within the community is al the core of our mission. Young people engaged wlth HYP 2024 Increase I Decrease 2023 Junlor Hlve Senior Hive Young cafers 141 132 56 20 li 16 96 86 13 li NIA 38 -35% 54 ACT Men'sEroup SPace NIA Total 376 354 In 2024, in addition to our standard timetsble we had 8 host of varied activities for our young people lo enjoy during the school holidays. These included gardening and cookery sessions al the project as well as health and fitness in our gym and residential trips which really act lo broaden the horizons of many of our youngsters. for whom it might be the first trip away from home, out of the county and away from parents. None of our activities would have been possible without the backing of our generous funders and donors, lo all of whom we offer our heartfelt thanks. Fundraising in 2024 was lower than in recent years. However. we are grateful lo our Patrons with whom we had a brainstorming evening. which has kickslarted some new fundraising inilialives. With reduction in income from some of our commissioned work, we have had lo meet the shortfall from our own reserves. Page 3
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and perfomiance (continued) The charity clothes shop on site, known as the Pavilion, is staffed by volunteers and continues to provide a source of low cost or free clothes for families in need within our community. We are lucky lo be provided with a constant supply of clothes (particularly children's clothes) from local donors. The online Vinted account (where we sell the more designer items for a true market pricel now provides a meaningfLJI and regular source of income Financially, we currently remain in a strong position with free reserves in line with our target being sufficient to maintain delivery of our work for a minimum of 9 months should the need dictate. Combined with an excellent team of staff, volunteers and trustees around us. we are confident we can continue to offer a professional, caring and SLJPPOrtive service to our community. Financial review a. Going concern Al the year end, the balance sheet shows net assets of £627,00012023 - £656,279) and had cash reserves of £401,347 12023 - £422,970). After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the reserves policy and the accounting policies. b. Reserves policy The total funds of the charity at 31 December 2024 were £627,00012023 £656,279) of which £77,94612023 - £218,390) were restricted and not available for the general purpose of the charity. The unrestricted funds of the charity totalled £549,054 {2023 £437,889) of which £404,256 12023 £260,756> are designated funds. Designated funds are funds that the Trustees have earmarked for specific purposes. As al 31 December 2024. the designated amount relates lo.. the tangible fixed assets of the charity, reftecting the fact that these funds could not be re8lised without disposing of the assets., a donation of £50,000 from The Saracen TrLJSt which Trustees have eamarked as match funding for the Resilient Together project funded by a grant frorn the National Lollery Community Fund,. and an amount of £55,000 which the Trustees have decided lo rIng-fen for the New Building Fund, established to expand and renovate the Hub. The Trustees have determined that the charity should prudently maintain free reserves of at least 9 month8, unfunded operating costs li.e. not covered by committed funding). The free reserve balance of £144,798 is considered satisfactory in this regard and miligales the risk of any sudden drop in income. c. Principal risks and uncertainties The Trustees have assessed the major risks to which HYP is exposed, and are satisfied that systems are in place lo mitigate exposure to the major risks. The risks and mitigating factors are reviewed on an annual basis. Page 4
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management a. Constitution Holt Youth Project Limited is registered as a charitable company limited by gu2ranlee and was set up by a Memorandum of Association. b. Methods of appointment orelection of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the temis of the Memorandum of Association. ¢. Organisational structure and decision-making policies The Board of Trustees Idirectorsl Currently consists of 9 members, though there is no upper limit prescribed by the Memorandum of Association. The Board appoints a chair and a taSurer from among their number. There is a finan committee consisting of the Treasurer and 2 other Trustees. Other subcommittees are established as the need arises. The day to day management of HYP is delegated lo Julie Alford, Manager. Members. liability The company is a registered charity and is limited by guarantee of its members, who have guaranteed a sum not exceeding £10 per member. There are 9 membÈrs12023.' 7 members). Statement of Trustees. responsibilities The Trustees (who are also the directors of the Charity for the purposes of company law} are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees musl not approve the financial statements unless they are satisfied that they give a trLJe and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial slatemenls, the Trustees are required lo.. select suitable accounting policies and then apply them ¢onsislenUy', observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concem basis unless il is inappropriate lo presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy al any lime the financial position of the Charity and enable them to ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 5
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Approved by order of the members of the board of Trustees and signed on their behalf by.. Thomas Hum Roger Unit Date.. 12 August 2025 Page 6
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examlner's Report to the Trustees of Holt Youth Project Llmlted {'the Charlty'l I report to the charity Trustees on my ex8minalion of the accounts of the Charity for the year ended 31 December 2024. Responslbllltles and Basls of Report As the Trustees of the Charity {and ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.lhe 2006 Act'l. H8ving satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in r9spect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 lllhe 2011 Acl'l. In carrwng out my examination I have followed the Directions given by th8 Charity Commission under section 145151{bl of the 2011 Act. Independent Examiner's Statement Since the Charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of Inslilule of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no mattgrs have come lo my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Charity as required by section 386 of Ihg 2006 Act,. or the accounts do not 8ccord with those records., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a Xrue and fairf view which is not a matter considered as part of an independent examination., or th8 accounts hav8 not begn prepared in accordanc8 with the mgthods and prin¢ipl8s of th8 Ststgm8nl of Recommended Practice for accounting and reporting by charities applicable to chari118s preparing their accounts in a¢wrdance with the Financial Reporting Standard applicablg in the UK and Republic of Ireland {FRS 1021. I h8ve no concems and have come across no other mallers in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Page 7
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 This report is made solely lo the Charity's Trustees, as a body, in accordance with Part 4 of the Ch8rili8s (Accounts and Reports) Regulations 2008. My work has been undert8ken so th8t I might slate lo the Ch8rills Trustees those matters 18m required to stsle lo them in an Independent Examinevs Report and for no other purpose. To the fullest extent permilled by law, I do not 8ccept or assumg responsibility to 8nyon8 Other th8n the Charity and the Charills Trustees as a body, for my work or for this report. Signed.. Dated.. 18 August 2025 Alice Lynch Bsc FCA DChA MA Partners LLP 7 The Close NonNich Norfolk NR14DJ Page 8
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from- Donations and legacies Charitable activities Other trading acts'vities Investments 197,402 3.640 124,673 26.213 5.535 5,512 322,075 29.853 5.535 5,512 145,592 52,884 59,574 4,354 Total income 201.042 161.933 362.975 262,404 Expenditure on: Charitable activities Other expenditure 254,084 137,816 354 391,900 354 315,508 6,917 Total expenditure 254.084 138.170 392.254 322.425 Net lexpenditurollincome Transfers between funds 153,042) 187.402) 23,763 87.402 129,279) (60,027) 16 Net movement in funds 1140,444) 111,165 129,279) (60,021) Reconclllatlon of funds: Total funds brought forward Nel movement in funds 218,390 {140.444) 437,889 111.165 656,279 129,279) [16,300 (60,021) Total funds carrled forward 77,946 549,054 627,000 656,279 The Statement of Financial Activities includes all gains and losses regnised in the year. The notes on pages 12 to 32 form part of these financial statements. Page 9
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) REGISTERED NUMBER: 06844711 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets 13 299,256 29T,567 299.256 297,561 Current assets Debtors 14 22,919 401,347 25,962 422,970 Cash at bank and in hand 424,266 448,932 Current liabilities Creditors: amounts falling due within one year 15 {96,5221 (90,274) Net current assets 327,744 358.718 Total net assets 627,000 656,2T9 Charlty funds Restricted funds.. Restricted funds 16 77,946 218,390 Total reslricled funds Unrestricted funds 16 77,946 218,390 Designated funds General funds 16 16 404,256 144,798 260, 756 177, 133 Tol81 unrestricted funds 16 549,054 437,889 Total funds 627,000 656,279 Page 10
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) REGISTERED NUMBER: 06844711 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The Charity was entilled to exemption from audit under section 477 of the Companies Acl 2006. The members have not required the company lo obtain an audit for the year in question in accordance wilh section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirem8nts of the Act with respect to accounting records and preparation of financial stalemenls. The financial slalemenls have been prepared in accordance with the provisions applicable lo entities subject to the small companies regime. The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. Roger Unlte Thomas Hume Date.. 12 August 2025 The notes on p8ges 12 to 32 fomi part of these financial statements. Page11
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Informatlon The charity is a company limited by guarantee. It is both incorporated and domiciled in England and Wales. The address of its registered office is Old Stslion Way Off Hempstead Road, Holl, Norfolk, NR25 6DH. The charills principal activity is that of support for the local community. Accountlng pollcles 2.1 Basis of preparation of financial statements The financial stslemenls have been prepared in accordance with the Charities SORP IFRS 1021 Accounling and Reporting by Charities.. Stslemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effe¢tive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Holl Youth Project Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise staled in the relevant a¢¢ounling policy. 2.2 Income All income is recognised On the Charity has enlitlemenl lo the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Slalement of Financial Activities on a receivable basis. The balance of income received for specifi¢ purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is reiVed in advance of enlitlemenl of receipt, ils recognition is deferred and included in Creditors as deferred income. Where entillemenl occurs before income is received, the income is awrued. Income tax recoverable in relation lo investment income is recognised al the time the investment income is receivable. 2.3 Expenditure Expendilure is recognised On there is a legal or constnjctive obligation lo transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitys objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is nomially upon notificalion of the interest paid or payable by the institution with whom the funds are deposited. Page 12
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Icontlnued) 2.5 Tanglble flxed assets and depreclallon Tangible fixed assets costing £1,000 or more are c8pilalised and rgcognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed 8ssets are initially recognised at cost. After recognition, under the cost model, 18ngible fixed assets are measured at cost less accumulated depreciation 8nd 8ny accumu18ted imp3irmenl losses. All costs incurred lo bring a tangible fixed 8sset into ils intended working condition should be included in the measurement of cost. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, using the straight-line method. Depreciation is provided on the following b8ses= Freehold property Equipment & fittings Computer & website 2Q/o& 1DQ 2.6 Debtors Trade and other dabtors 8re recnISed 8t the s8111ement amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. 2.7 Cash al bank and In hand Cash al bank and in hand includes sh and short-term highly liquid inveslmgnts with a short malurily of three months or less from the datg of acquisition or opening of the deposit or similar account. 2.8 Llabllltles Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past evgnt, il is probable that a transfer of economic benefit will be required in settlement, 8nd the amount of the setuement can be eslim8ted reliably. 2.9 Flnanclal Instruments The Charity only has financial 8ssels and financi81 liabilities of a kind that qualify as basic financial instruments. B8sic financial instruments are initially recognised at transaction value and subsequently measured al their selllement V81ue. 2.10 Pensions The Charity operates a defined contribution pension scheme and the pension charge represents the amounts pay8ble by the Charity to the fund in respect of the year. Page 13
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Icontlnued) 2.11 Fund accountlng General funds are unrestrict8d funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Ch8rily and which have not been designated for other purposes. D8sign8ted funds comprise unrestricted funds that have been sel aside by the Trustees for p8rticular purposes. The aim 8nd use of each designated fund is sel out in the notes to the financial statements. Reslricled funds are funds which are to be used in 8ccord8nce with specific restrictions imposed by donors or which have been rais9d by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each reslricled fund is sel out in the nol8S to the financial stalemenls. Investment income, gains and losses are allocated to the appropriate fund. Page 14
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donatlons and legacles Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations Grants 41,500 155,9)2 124,673 166,173 155,902 108,507 37,085 Total 2024 197,402 124.673 322,075 145,592 Total 2023 52,385 93,207 145,592 Income from charitable activities Rastrictad Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 General funds Achieving Confidence Training Resilient Together 1.926 24.287 1,926 24,287 3,640 7. 780 36,839 14,265 3,640 Total 2024 3,640 26.213 29,853 52.884 Total 2023 14,265 38,619 52,884 Page 15
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from olher tradlng actlvltles Income from fundralslng events Unrestricted funds 2024 Total funds 2024 Total funds 2023 Car park Hire of facilities 530 530 740 2,047 56,787 1.445 3.560 1,445 3,560 Events Total 2024 5,535 5,535 59,574 Invastment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Inveslmenl income 5.512 5,512 4,354 Analysis of expenditure on charitable activities Summary by fund type Restricted Unrestricted funds funds 2024 2024 Total 2024 Total 2023 Achieving confiden Training Resilient Together Other 72,372 162,281 19,431 27.975 109,841 100,347 272,122 19,431 76,329 225, 123 14,056 Total 2024 254,084 137.816 391,900 315,508 Total 2023 85,304 230,204 315,508 Page 16
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expendlture on charltable actlvltles Icontlnued) Summary by expendlture type staff costs Depreciation Other costs 2024 2024 2024 Total 2024 Total 2023 Achieving Confidence Training Resilient Together Other 73,843 193,801 3,027 9,947 15,931 23,477 68,374 3,500 100,347 272,122 19.431 76,329 225, 123 14,056 Total 2024 267,644 28,905 95,351 391,900 315,508 Total 2023 206,501 24,097 84,910 315,508 Page 17
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Other expendlture Unrestricted funds 2024 Total funds 2024 Total funds 2023 Fundraising events 354 354 6,917 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Achieving Confidence Training Resilient Together Other 69,388 187,538 3,500 30.959 84.584 15,931 100,347 272,122 19,431 76.329 225, f23 14,056 Total 2024 260,426 131.474 391,900 315.508 Total 2023 219,584 95,924 315,508 Page 18
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expendlture by actlvltles Icontlnuedl Analysls of dlrect costs Achieving Confidence Training 2024 Resilient Together 2024 Tot81 funds 2024 Total funds 2023 other 2024 Staff costs 53,622 139,361 192,983 163,990 Achieving Confidence Training programme Positive Choices programmg Young Carers Men's group Minibus rental 7,381 7,381 9,186 15,382 9,795 10,344 3,559 4,273 1,745 7,g38 11,948 3,599 4,692 6,235 4,379 2,649 1,957 9,186 15,382 9,795 6,895 2,364 2,849 1,163 3,449 1,195 1,424 582 Motor Printing, postage 8nd s18tionery Telephone and broadband Accountsncy, legal and professional Training Food vouchers 1,735 1,735 543 3,500 3,979 718 1,500 543 3,500 Total 2024 69,388 187,538 3.500 260,426 219,584 Total 2023 58,683 159,401 1,500 219,584 Page 19
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expendlture by actlvltles Icontlnuedl Analysls of support costs Achieving Confidence Training 2024 Resilient Together 2024 Tot81 funds 2024 Total funds 2023 other 2024 Staff costs 20,221 3,027 54,440 9,947 509 3,273 5,112 873 74,661 28,905 509 3,298 7,010 1,197 3,655 4,419 511 42,511 24,097 252 3,625 6,192 1,175 3,180 9,000 16 Depreciation Hotels, travel and subsislgnc9 Office and computer Light and heal Rates 15.931 25 1,898 324 Insurance Repairs and maintenance Advertising and promotional Accountancy, legal and professional 990 905 2,665 3,514 511 3,569 3,740 7,309 5,876 Total 2024 30,959 84,584 15,931 131,474 95,924 Total 2023 17,646 65, 722 12,556 95, 924 10. Independent examlner's remuneratlon 2024 2023 Fees payable to the Charity's independent examiner for the independent examination of the Charills annual accounts 2,130 1,860 Page 20
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Staff costs 2024 2023 Vvages and salaries Social security costs Contribution to defined contribution pension schemes 250,347 13,590 3,707 193, 785 9,683 3,033 267,644 206,507 The average number of persons employed by the Charity during the year was as follows.. 2024 No. 2023 No. Staff 15 12 No employee received remuneration amounting to more than £60,000 in either year. 12. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023- £NILJ. During the year ended 31 December 2024, no Trustee expenses have been incurred (2923- £NIL)- Page 21
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Tanglble fixed assets Freehold Fixtures and Computer & property fittings website Total Cost or valuation Al 1 January 2024 Additions 323,542 64,290 30,600 14,263 402,095 30,600 Al 31 December 2024 323,542 94,890 14,263 432.695 Depreclatlon At 1 January 2024 Charge for the year 72,743 11,143 17,983 17,428 13,808 334 104,534 28,905 At 31 Decgmber 2024 83.886 35,411 14,142 133.439 Net book value Al 31 December 2024 239,656 59,479 299,256 Al 37 December 2023 250, 799 46,307 455 297,567 14. Debtors 2024 2023 Due within one year Trade debtors 1,950 6,101 14,868 788 Other debtors Prepayments and accrued income 16,246 9,528 22,919 25,962 Page 22
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Credltor6'. Amounts falllng due wlthln one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 5,953 4,594 704 4,895 3,819 560 85,271 80,940 96,522 90,214 2024 2023 Deferred income at 1 JanLJary 2024 ReSoUrS deferred during the year Amounts released from previous periods 74,050 76,633 {74,0501 74,050 76,633 74,050 Page 23
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of funds Statement of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Unrestricted funds Designated funds Representing fixed assets Representing funds allributed by Trustees to Match Funding Representing funds earmarked by Trustees for the expansion and renovation of the Hub 214,182 85,074 299,256 46.574 3,426 50.000 55,000 55.000 260,756 143,500 404,256 Representing fixed assets These designated funds are equivalent to unrestricted fixed assets. Representing funds attributed by Trustoes to Match Funding The Trustees have designated funds donated by The Saracen Trust to match a grant from the National Lollery Community Fund in 2025. Represgnting funds earmarked by the Trustees for the expansion and renovation of the Hub The Trusle2s have designated funds for the expansion and renovation of the Hub. General funds General Funds 177,133 161,933 1138,170) {56.0981 144,798 Total Unrestrlcted funds 437.889 161,933 (138.170) 87,402 549.054 Page 24
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of funds Icontlnued) Balance at 31 December 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Restricted funds National Lottery Voluntary Norfolk Holiday Activity and Food Programme Th8 Alan Boswell Charity Trust Norfolk Superhero 2022 Rollo Amistrong Fund NCF - Victory HoLJsing Trust Community Fund Rotary Club Young Car8rs Fund Alan Boswell Group Charitable Trust 148,100 3,640 1143.788) {3.414) 4.312 226 2,500 2,000 109.707 7,802 {8,802) 1800) 163.349) 112.000) 11,5001 11.2001 46.358 12,000 1,940 1896) 11,0441 2,500 {2,500) 19.583 56,610 {5.000) {6,660) {14,5831 {49,9501 Crane Garden Buildings Funé New Building Fund Heat Pump Fund NCF- Norfolk Household Support Fund Website Fund 24,500 24,500 22.500 {3.375) {19,1251 3.550 {3.500) 50 2,500 2,500 218.390 201,042 1254.084) {87,4021 77.946 Total of funds 656.279 362,975 1392.254) 627.000 Page 25
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of funds Icontlnued) Natlonal Lottery Communlty Fund This fund represents support for the Resilient Together programme. Voluntary Norfolk This fund relates to a Carers Matters grant for young cargrs. Holiday Activity and Food Programme This fund represents support for Resilient Together holiday aclivilies. A transfer out of the fund into the designated fixed asset fund has been made during the year in respect of fixed assets purch8sed with restricted funding for which the ongoing use of the assets within the charity is not restricted. The Alan Boswell Charlty Trust This fund relates to a grant for the purchase of bicycles. A transfer out of the fund into the designated fixed asset fund has been made during the year in respect of fixed 8ssets purchased with r8slricted funding for which the ongoing use of the assets within the charity is not restricted. Norfolk Superhero 2022 This fund represents fundraising to support ACT Group. Rollo Armstrong Fund This fund supports ACT Group stsffing. Slnclalr Fund This fund represents sponsorship of ACT Group students. NCF . Victory Housing Trust Community Fund This fund relates to a grant for a bicycle shed. A transfer out of the fund into the designated fixed asset fund has been made in respect of fixed ass91s purchased with restricted funding for which the ongoing use of the assets within the ch8rity is not reslricled. Rotary Club Young Carers Fund This fund supports activities for young c8rers. Alan Boswell Group Charitable Trust This fund relates to a grant towards new kitchen. A transfer out of the fund into the designated fixed asset fund has been made in respect of fixed ass91s purchased with restricted funding for which the ongoing use of the assets within the charity is not reslricled. Crane Garden Buildings Fund This fund re18tes lo the Pavilion building. A transfer out of the fund into the designated fixed asset fund has been made in respect of fixed assets purchased with restricted funding for which the ongoing use of the assgls within the charity is not reslricled. New Bulldlng Fund This fund has been established to expand and renovate the Hub. Holt Hall Fund This fund supports outdoor activities for young people. Page 26
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of funds Icontlnued) Heat Pump Fund This fund is set up to provide an air source heat pump for the Youth Hub. A Iransfer out of the fund into the designated fixed asset fund has been made in respect of fixed assets purchased with restricted funding for which the ongoing use of the assets within the charity is not restricted. NCF - Norfolk Household Support Fund This fund represents food vouchers lo familigs of Holl Youth Project students. Website Fund This fund supports building a new website. Statement of funds - prlor year Balance al 37 December 2023 Balance al l January 2023 Ttsnsfers in/out Incomg Expenditur8 Unrestricted funds Deslgnated funds Representing fixed assets Repres8nting funds allributed by Trustees to Match Funding 211,497 (3,309) 214,182 46,574 46,574 217,491 43,265 260, 756 General funds General Funds 261. 765 795,754 (237. 121) (43,265) 177. 733 Total Unrestrlcted funds 479,256 195, 754 (237, 121) 431,889 Page 27
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of funds Icontlnued) Balance al 31 December 2023 Balance al f January 2023 TTrnsfers in/out Incomg Exp6nditur8 Restricted funds Voluntary Norfolk Holiday Activity and Food Programme The Alan Boswell Charity Trust Norfolk Superhero 2022 Rollo Amistrong Fund Sinclair Fund NCF - Victory HoLJsing Trust Community Fund Alan Boswell Group Charitabl8 Trust Crane Garden Buildings Fund Holt Hall Fund 14,265 (14,265) 3,500 2,800 132,255 7,935 (8,935) (800) (22,923) (12,000) (10, 725) 2,500 2,000 109,707 375 12,000 2,925 7,800 2,836 (896) 1,940 24,583 63,270 (5,(100) (6,660) (1,600) 19,583 56,610 1,600 22,500 Heat Pump Fund NCF- Norfolk Household Support Fund 22,500 5,050 (1,500) 3,550 237,044 66,650 (85,304) 218,390 Total of funds 776,300 262,404 (322,425) 656,279 Page 28
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Summary of funds Summary of funds- current year Balance at 31 December 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Designated funds General funds Restricted funds 260,756 177.133 218.390 143,500 {56,0981 {87,4021 404,256 144,798 77.946 161,933 201,042 1138,170) 1254.084) 656,279 362,975 1392,254) 627,000 Summary of funds- prior year Balance al 31 December 2023 Balance al l January 2023 Ttsnsfers in/out Income Expenditure Designated fund5 General funds 21 1,491 261,765 237,044 43,265 (43,265) 260, 756 17T, 133 218,390 195, 754 66,650 (237, 127) (85,304) Restricted funds 716,300 262,404 (322,425) 656,279 Page 29
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Analysls of net assets between funds Analysls of net assets between funds - current perlod Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 299,256 275,220 {25,422} 299,256 424,266 196,522} 149,046 171.1001 Total 77,946 549,054 627.000 Analysis of net assets between funds - prior period Restricted Unrestrffcted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets 83,379 209,067 (74,050) 214, 182 239,871 (76, 164) 291,561 448,932 (90,214) Creditors due within one year Total 218,390 437,889 656,279 Page 30
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. Acknowledgement of funders The Trustees acknowledge with grateful thanks the contributions from all our donors and funders, in particular.. Barratt and Cooke Barratt Family Chari18ble Trust B18k9ney Parish Council Charles Littlewood Hill Trust David Flux Dunc8n Baker Gresh8m's School Holiday Activity and Food Programme Holt and District Farmers Club Holt Rotary Club HR Greene Chari18ble Settlement Jim Agnew Memorial Charity Kip and Alison Bertram Ch8ri18ble Trust Mr & Mrs Philip Rackham Chari18ble Trust National Lottery Community Fund Nigel Sykes-Thompson Paul Bassham Charitsbla Trust RC Snelling Charitable Trust Red Socks Charitsble Trust Saracen Trust The John and Pamela S811er Charitable Trust Trofeo Cars Limited 20. Capital commitments 2024 2023 Contracted for but not provided in these financial statements Acquisition of tangible fixed assgts 15,300 21. Penslon commltments The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity lo the fund and amounted lo £3,707 (2023 - £3,033). Contributions lolalling £704 (2023 - £560) were payable lo the fund al the balance sheet date and are included in other creditors. Page 31
HOLT YOUTH PROJECT LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 22. Operatlng lease commltments Al 31 December 2024 the Charity had commitments lo make future minimum lease payments under non- cancellable operating leases as follows.. 2024 2023 Not later than 1 year Later than 1 ygar and not later than 5 years 10,698 39,302 50,000 Tho following lease payments have been recognised as an expense in the Statement of Financial Activities.. 2024 2023 Operating lease rentals 4,570 23. Related party transactions The Charity has not entered into any related party transaction during the year, nor are there any outstanding balan8 owing between related parties and the Charity al 31 December 2024. Page 32