**Charity registration number 1146158**
**Company registration number 07937704 (England and Wales)**
## **YOUTH MINISTRY TRUST**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024**
## **YOUTH MINISTRY TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr WM Howard|
|---|---|
||Dame M Regan|
||Sr K Matthews|
||Dr S O'Neill|
||Fr M Lyden-Smith|
||Ms C Lawrence|
||Mr E M Donnelly|
||Rev MA Millward|
||Ms E F Standfield|
||Ms C M Craig|
|**Secretary**|Ms E F Standfield|
|**Charity number**|1146158|
|**Company number**|07937704|
|**Registered office**|Emmaus Village|
||Pemberton Road|
||Allensford|
||Consett|
||County Durham|
||England|
||DH8 9BA|
|**Independent**|Adam Halsey FCA DChA|
|**examiner**|HaysMac LLP|
||10 Queen Street Place|
||London|
||EC4R 1AG|
1
## **YOUTH MINISTRY TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 7|
|Independent Examiner's report|8|
|Statement of financial activities|9|
|Balance sheet|10|
|Statement of Cash flow|11|
|Notes to the financial statements|12 - 23|
2
## **YOUTH MINISTRY TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)**
## _**FOR THE PERIOD ENDED 31 MARCH 2024**_
The trustees present their annual report and financial statements for the period ended 31 March 2024.
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 governing document, 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**
The YMT charity has two objectives:
- The advancement of the Roman Catholic religion particularly for the benefit of young people in the Diocese, or elsewhere, by such means as the Trustees think fit, and the provision of charitable support or services (whether in the Diocese or elsewhere) in furtherance of that object
- The advancement of the education of the public and especially young people in accordance with the principles and doctrines of the Roman Catholic religion particularly by the provision and support of schools and other educational establishments (in the Diocese and elsewhere) and the provision of facilities for the education of the public and especially young people as the Trustees shall from time to time think fit; and
- Such other incidental, ancillary or associated charitable purposes for the benefit of the public and especially young people as the Trustees from time to time decide.
## **The principal activity streams which deliver our objectives are:**
## **1. Direct delivery of services to young people**
- Residential retreats – delivered at almost full capacity with the majority 2.5 days in length
- Festival Fortnight – a summertime experience for primary and secondary students
- World Youth Day – locally delivered programme in support of Vatican led World-wide action
- The Source – an evening event of prayer, spiritual leadership, reflection, music and socialising
- Faith in Action Award – a national programme which challenges young people to be pro-active in their schools, parishes and wider community
- Pope John Paul ll Award – an international programme which accredits commitment to a faith community linked to social awareness projects
- Flame – a high-profile event based in Wembley Arena with over 10,000 young participants
- Confirmation – YMT provides support for catechists and the young people they are preparing for this sacrament.
## **2. Supporting others who support young people**
- Co-workers – supporting adults in parishes and schools leading youth ministry in local areas
- Support of Youth Ministry Co-Ordinators – by providing resources, development and networking
## **3. Building capacity to provide support for young people**
- Gap Year Formation Programme – providing accredited personal, spiritual and experiential growth for those who commit to a year-long volunteering commitment
- Young Educators Retreat – the opportunity for educators to replenish their energies in supporting young Catholics
- Catholic Certificate for Religious Studies – Youth Ministry Module, which supports the theology, principles and goals of youth ministry
## **Public benefit**
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year.
## **Use of volunteers**
The YMT is supported by young volunteers aged 18 plus, including some who commit to a ‘Gap Year’ residential experience as interns based at the Emmaus Village. They are recruited both locally and from across the World and currently there are four interns living and working with the Emmaus Youth Village and the schools and parishes of the Diocese. In addition, there are some ten adult volunteers who take on aspects of leadership and delivery overseen by the Director of Youth Ministry, Tony Lawless, and the members of his team. It should be noted that at the time of writing Tony Lawless has stepped away from his role at the YMT. Trustees will shortly be recruiting to this vacancy
3
## **YOUTH MINISTRY TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE PERIOD ENDED 31 MARCH 2024**_
## **Achievements and performance**
The YMT planned and organised both its work at the Emmaus Village and across the Diocese to optimise the opportunities to engage with young people, as well as organising the Youth Section of the Diocesan Lourdes Pilgrimage which took place in the summer of 2024.
Across the period ending 31 March 2024 over 4,000 children enjoyed residential retreats at the Emmaus Village, whilst in July 2024, the charity hosted its annual Festival at the Village with over 4,000 young people attending across a two-week period.
In March the Flame Conference took place with around a thousand young people travelling from the Diocese by train and coach to the Wembley Arena. This witness of the living Church is visible testament to the charity’s mission in action. Likewise, the Pope John Paul II Award, as part of the YMT’s work, has provided a meaningful way for young people to actively witness to the Gospel in their communities. Alongside this, the CYMFed Faith in Action Award has also encouraged young people in the Diocese to deepen their faith through service and reflection.
The Rt Rev Stephen Wright was installed as Bishop of Hexham and Newcastle at the Cathedral Church of St Mary on 19 July 2023. Bishop Stephen has further strengthened the Trustee Board of the YMT thus bringing the YMT into a closer relationship with the Diocese whilst at the same time broadening the skills and experience of the Board.
## **Financial review**
The Trustees continue to seek to stabilise the financial position and to move the Charity to the position of a retained surplus on its unrestricted reserves. The previous period saw that return to a positive position, due to increases in charitable activities and also grant funding, with this direction of travel continuing.
In 2024 the recommendation by the newly appointed Diocesan Auditors to consolidate the YMT accounts with those of the Diocese was approved by both the Diocesan and YMT Trustees. In doing so, the financial year for the YMT was amended to become coterminous with that of the Diocese. The financial year for the YMT is now 1 April to 31 March and as such this Trustees’ Report covers a seven-month period from 1 September 2023 to 31 March 2024.
The trustees are heartened that the Schools within the Diocese continue to use the facility at the same rate as prior years and this has been the main charitable income stream for YMT. Control of costs remains a challenge, particularly given the high rate of inflation with pressures on costs of utilities and foodstuffs, as well as challenges around staff recruitment and pay. The main reason for the deficit in the 7-month period is attributed to a one off asset being classified through revenue and not capital this has been matched against the Designated fund set aside in March 2023. Plans for the proposed scheme were submitted to the local authority for approval with planning permission eventually granted in early 2024.
## **Going concern**
The Trustees have performed an assessment of the Trust's ability to continue as a going concern, by reference to forecasts and working capital requirements for a period of 12 months from the date of approval of these financial statements. The Trustees are satisfied that the going concern basis of preparation for these financial statements is appropriate.
## **Reserves policy**
The trust as a not-for-profit organisation has not created to date, any major free reserves. Post covid and with Bishop Stephen being appointed, YMT are reviewing their structure and relationship with DHN. Nearly all of YMT reserves are restricted and the trustees continues to work towards creating free reverses. The trustees hope to align themselves with DHN policies and want to increase their free reserves to cover a reasonable period of trading.
## **Principal funding sources**
The principal sources of funding for the Trust are donations from the Diocese and the general public, income from fundraising activities, income generated from overnight accommodation and going out into schools and parishes to deliver the objectives of the Trust.
4
## **YOUTH MINISTRY TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE PERIOD ENDED 31 MARCH 2024**_
## **Financial risk management policy**
The Trust's principal financial instruments comprise cash and cash equivalents. Other financial assets and liabilities, such as trade creditors and trade debtors, arise directly from the Trust's operating activities.
The main risks associated with the Trust's financial assets and liabilities are set out below. The Trust does not undertake any hedging activity and any significant financial risks are addressed on a case-by-case basis.
## **Interest rate risk**
The Trust invests surplus cash in floating rate interest yielding bank accounts, therefore financial assets, interest income and cash flows can be affected by movements in interest rates. However, the Trustees do not consider there to be any significant exposure. The Trust has no bank borrowings.
## **Price risk**
There is no significant exposure to changes in the carrying value of financial liabilities.
## **Credit risk**
The Trust's policy is aimed at minimising such losses. Individual exposures and overdue debts are monitored with customers to ensure that the Trust's exposure to bad debts is not significant.
## **Liquidity risk**
The Trust aims to mitigate liquidity risk by managing cash generated by its operations. Flexibility is maintained by retaining surplus cash in readily accessible bank deposit accounts. Limits on spending authority are in place.
## **Foreign currency risk**
There are minimal transactions in foreign currency. As a result, no hedging activity is undertaken to mitigate this risk.
## **Investment policy**
The Trust ensures that any investment strategy it adopts does not put at adverse risk any of the assets it is responsible for.
Funds are placed on deposit at the highest possible interest rates, consistent with cash flow requirements.
## **Plans for future periods**
Following the appointment of Bishop Stephen as the Bishop of Hexham and Newcastle, the YMT is now on a sure footing as the youth ministry of the Diocese.
Work continues on the capital projects, with generous support from a number of funders, whilst the Diocese has committed to purchasing additional land adjacent to the Emmaus Village to enable the YMT expand its outreach and increase its impact.
## **Structure, governance and management**
## **Governing document**
The Trust is a charitable company limited by guarantee and was incorporated on 6 February 2012. It is governed by Articles of Association as adopted on 6 February 2012.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr WM Howard Ms DM Fox (Resigned 31 January 2024) Dame M Regan Sr K Matthews Mr D Leane (Resigned 24 November 2023) Dr S O'Neill Fr M Lyden-Smith Ms C Lawrence
(Appointed 28 May 2023)
5
## **YOUTH MINISTRY TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE PERIOD ENDED 31 MARCH 2024**_
Mr E M Donnelly (Appointed 24 July 2023 Rev M A Millward (Appointed 1 July 2023) Ms E F Standfield (Appointed 1 May 2024) Ms C M Craig (Appointed 1 May 2024)
## **Recruitment and appointment of new trustees**
From time to time it is necessary for the Trust to recruit new Trustees to replace those that have either resigned during their term of office, or by way of anticipating planned retirements after the completion of either a single term of three years, or a maximum period of six years, being two terms of three years.
When a vacancy occurs, the Board will determine the mix of skills and experience needed so as to ensure a fully functioning team of Trustees and will seek to identify individuals who appear to have the qualities and interest in what we do. Although not strictly a public appointment, when setting out the essential requirements of potential Trustees, the Trust chooses to make known that it expects appointees to follow the seven principles of public life as defined by the Committee on Standards in Public Life. After fair assessment by a panel of the Board, a proposed applicant is recommended to the Bishop for appointment.
## **Organisational structure**
The Youth Ministry Trust is a registered Charity and a Company Limited by Guarantee. The Diocese of Hexham and Newcastle is the defined Member under the Articles of Association. The Bishop appoints Trustees including the Chair of the Board and has a controlling role in the appointment of leadership staff. He is thus identified as a Person of Significant Control under Company Law. The Board composition is detailed in the Articles of Association, to include at least two members who are also Directors/Trustees of the Diocese of Hexham and Newcastle (registered company co. no. 7732977, registered charity no.1143450), and meetings are only quorate when at least one of those Board members is present.
The role of the Board is summarised as being responsible for managing the resources, regulation, risk, reputation and resilience of the charity. Trustees are appointed for a three-year term with new Trustees being identified for consideration by the Bishop either when a vacancy arises or when a need for additional skills is identified. Trustees are appointed for a three-year term .
The composition of the Board is such that it includes representatives of key stakeholders and people appointed for the expertise and experience they can bring. The Board sets the strategic direction and identifies the policies required of the Company which are then delivered by the senior management team with the leaders attending Board meetings.
An annual Business Plan and Budget is prepared for review and approval by the Board of the Diocese of Hexham and Newcastle with interim termly reports provided.
## **Induction and training of new trustees**
The induction and training of Trustees is the responsibility of the Chairman and is arranged on an individual or collective basis as appropriate. The Board of Trustees has recently approved the introduction of formal training sessions for the Board as a whole, and one-to-one appraisals undertaken by the Chairman. Trustees of the YMT are invited to attend training sessions arranged for the Diocesan Board with the most recent session being on safeguarding
## **Risk management**
The Trust has adopted a risk management strategy evidenced through the development of a Risk Register. The risk management strategy forms part of Trust's overall internal control structure and corporate governance arrangements. The strategy provides definitions of relevant terminology and details responsibility and accountability within the Trust. The strategy also describes the management process, including the identification and measurement of risk and the main reporting arrangements.
Risks are categorised in one of seven areas: strategic, operational, reputational, financial, physical, people, and regulatory.
Risk Appetite is the term used to determine the amount of risk that is appropriate for the Trust. Risks are considered on an individual basis using a risk model to determine the impact and likelihood of a potential risk and the appropriate response to the outcome of measuring each risk.
6
## **YOUTH MINISTRY TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE PERIOD ENDED 31 MARCH 2024**_
## **Statement of trustees' responsibilities**
The trustees, who are also the directors of Youth Ministry Trust for the purpose 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 which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements 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.
The trustees' report was approved by the Board of Trustees on 31[th] March 2025
## Fiona Standfield
Ms E F G Standfield **Trustee**
7
## **YOUTH MINISTRY TRUST**
## **INDEPENDENT EXAMINER’S REPORT**
## **TO THE TRUSTEES OF THE YOUTH MINISTRY TRUST**
I report to the Trustees on my examination of the accounts of The Youth Ministry Trust for the Period Ended 31 March 2024 which are set out on pages 9 to 22.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). The trustees are satisfied that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
Since the charity has prepared its accounts on an accruals basis your examiner must be a member of a body listed in the 2011 Act, I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. 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 ‘true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Adam Halsey FCA HaysMac LLP, Chartered Accountants 10 Queen Street Place London EC4R 1AG
8
## **YOUTH MINISTRY TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE PERIOD ENDED 31 MARCH 2024**_
|**Current financial year**
**Unrestricted**
**funds**
**2024**
**Restricted**
**funds**
**2024**
**Income and endowments from:**
Donations and legacies
Charitable activities
Other trading activities
Investments
Other income
**Notes**
**£**
**2**27,788
**3**312,469
4 10,183
240
-
**£**
61,495
-
-
-
-
**Total income**
350,680
61,495
**Expenditure on:**
Raising funds
Charitable activities
**5**
10,038
**6**
644,758
-
51,618
**Total expenditure**
**Net incoming resources before transfers**
Gross transfers between funds
**Net income/(expenditure) for the year/**
**Net movement in funds**
Fund balances at 1 September 2023
**Fund balances at 31 March 2024**
654,796
(304,116)
-
(304,116)
309,022
4,906
51,618
9,877
-
9,877
1,463,539
1,473,416|**Total**
**2024**
**£**
89,283
312,469
10,183
240
-
412.175
10,038
696,376
706,414
(294,239)
-
(294,239)
1,772,561
1,478,322|**Total**
**2023**
**£**
433,973
603,450
21,795
81
2,204
1,061,503
30,433
761,794
792,227
269,276
-
269,276
1,503,285
1,772,561|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
9
## **YOUTH MINISTRY TRUST**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2024**_
|
**Notes**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Stocks
**11**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current**
**liabilities**
**Creditors: amounts falling due after**
**more than one year**
**14**
**Net assets**
**Income funds**
Restricted funds
Unrestricted funds
Designated funds
General unrestricted funds
**15**
**16**|**March**
**2024**
**£**
**£**
163,309
-
1,330,290
265,732
1,596,022
(281,009)
1,315,013
1,478,322
-
1,478,322
1,473,416
3,266
1,640
4,906
1,478,322|**August**
**2023**
**£**
**£**
321,415
23,396
1,546,536
120,928
1,690,860
(239,714)
1,451,146
1,772,561
-
1,772,561
1,463,539
241,383
67,639
309,022
1,772,561|
|---|---|---|
||||
The financial statements were approved by the Trustees on 31[th] March 2025
Ms E F G Standfield
## **Trustee**
## **Company registration number 07937704**
10
## **YOUTH MINISTRY TRUST**
## **STATEMENT OF CASH FLOWS**
## _**FOR THE YEAR PERIOD 31 MARCH 2024**_
|**2024**
**Notes**
**£**
**£**
**Cash flows from operating activities**
Cash generated from operations
**18**
251,901
**Investing activities**
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
(107,337)
-
240
**Net cash used in investing activities**
(107,097)
**Financing activities**
Repayment of borrowings
-
**Net cash used in financing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**
-
144,804
120,928
265,732|**2023**
**£**
(309,886)
199
81
(50,000)|**£**
379,791
(309,606)
(50,000)
20,185
100,743
120,928|
|---|---|---|
11
## **YOUTH MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE PERIOD ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **Charity information**
Youth Ministry Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Emmaus Village, Pemberton Road, Allensford, Consett, County Durham, DH8 9BA, England.
## **1.1 Accounting convention**
Youth Ministry Trust meets the definition of a public benefit entity entry under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
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 company has applied the following accounting policies:
## **1.2 Going concern**
The financial statements have been prepared on a going concern basis following the guarantee of continued financial support from Diocese of Hexham and Newcastle. The Trustees have considered a period of 12 months from the balance sheet date and consider no further disclosures relating to the charity's ability to continue as a going concern need to be made.
## **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 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.
## **1.4 Income**
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
- Voluntary income received by way of grants, donations and gifts is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. - Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
## **1.5 Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
- Costs of generating funds comprise the costs associated with attracting voluntary income. - Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
12
## **YOUTH MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 MARCH 2024**_
## **1 Accounting policies**
**(Continued)**
## **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:
Leasehold improvements 4% to 25% straight line Fixtures and fittings 20% to 25% straight line Computers 10% to 33% 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**
Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared against its carrying amount. Where the estimated recoverable amount is lower, an impairment loss is recognised immediately in profit and loss.
## **1.8 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.9 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.
## **1.10 Taxation**
As a charity, the company is exempt from tax on income and gains to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
## **1.11 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.12 Debtors and creditors**
Trade debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
13
## **YOUTH MINISTRY TRUT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 MARCH 2024**_
## **2 Donations and legacies**
|Donations and gifts
Grants
**Donations and gifts**
Youth Sunday
Sisters of Mercy
Society of Sacred Heart of
Jesus
Other
**Grants received for core**
**activities**
Diocese of Hexham and
Newcastle
Government grants
William Leech Foundation
Porticus
Genesis Trust
Grants (assumption)|**Unrestricted**
**funds**
**2024**
**£**
27,788
-
27,788
20,420
-
-
7,368
27,788
-
-
-
-
-
-|**Restricted**
**funds**
**2024**
**£**
1,995
59,500
61,495
-
-
-
1,995
1,995
-
-
20,000
500
39,000
59,500||**Total**Unrestricted
funds
**2024**2023
**£**£
29,783
59,500
27,929
185,000
89,283
212,929
20,420
-
-
-
-
3,000
9,363
24,929
29,783
27,929
-
185,000
-
-
20,000
-
-
500
-
39,000
-
59,500
185,000|Restricted
2023
£
41,181
179,863
221,044
-
40,000
-
1,181
41,181
-
4,800
20,000
155,063
-
-
179,863|
|Total
funds
2023
£
69,110
364,863
433,973
-
40,000
3,000
26,110|
|---|---|---|---|---|---|---|---|
|||||||||
|||||||||
||||||||69,110|
||||||||185,000
4,800
20,000
155,063
-
-|
||||||||364,863|
14
## **YOUTH MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 MARCH 2024**_
## **3 Charitable activities**
|**School**
**accommodation**
**2024**
**£**
**Room hire and**
**other income**
**2024**
**£**
Retreat income
Analysis by fund
Unrestricted funds
Restricted funds
234,741
234,741
-
77,728
77,728
234,741
77,728|**Other festivals**
**2024**
**£**
-
-
-
-|**Total**
**2024**
**£**
312,469
312,469
-
312,469|
|---|---|---|
|**4**
**5**|**Other trading activities**
**Unrestricted Unrestricted**
**funds funds**
**2024 2023**
**£ £**
Bar and shop income
10,183
21,795
**Raising funds**
**Unrestricted Unrestricted**
**funds funds**
**2024 2023**
**£ £**
Fundraising and publicity
Costs of raising funds
Other fundraising costs
Fundraising and publicity
10,038 15,200
- 15,238
10,038
30,433
10,038
30,433|
|---|---|
15
## **YOUTH MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **6 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**activities**|**activities**|
||**2024**|**2023**|
||**£**|**£**|
|Staff costs|206,681|272,612|
|Retreat expenses|61,980|117,989|
|Festival and event expenses|6,826|145,852|
|Gap year expenses|27,599|26,021|
||303,086|562,474|
|Share of support costs (see note 7)|393,290|199,320|
||696,376|761,794|
|**Analysis by fund**|||
|Unrestricted funds|644,758|706,831|
|Restricted funds|51,618|54,963|
||696,376|761,794|
## **7 Support costs**
|Depreciation and
impairment
Management and
administration
Premisses and office
costs
Audit fees
Consultancy and
professional fees|**Support**
**costs**
**Governance**
**costs**
**2024**
**£**
**£**
**£**
265,442
-
265,442
17,086
-
17,086
96,925
-
96,925
-
2,038
2,038
11,799
-
11,799
391,252
2,038
393,290|**Support**
**costs**
**Governance**
**costs**
**2023**
**£**
**£**
**£**
18,076
-
18,076
18,911
-
18,911
118,659
-
118,659
-
3,600
3,600
40,074
-
40,074|
|---|---|---|
|||195,720
3,600
199,320|
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
16
## **YOUTH MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 March 2024**_
## **9 Employees**
The average monthly number of employees during the year was:
|Administrative staff
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2024**
15
**2024**
**£**
181,002
15,662
10,017
206,681|**2023**
13
**2023**
**£**
242,897
17,129
12,586
272,612|
|---|---|---|
During the course of the year, the amount paid to key management totalled £54,922 (2023: £53,405).
There were no employees whose annual remuneration was more than £60,000.
## **10 Tangible fixed assets**
||**Leasehold**|**Fixtures and**|**Computers**|**Asset under**|**Asset under**|**Total**|
|---|---|---|---|---|---|---|
||**improvements**|**fittings**||**Construction**|||
||**£**|**£**|**£**||**£**|**£**|
|**Cost**|||||||
|At 1 September 2023|281,014|31,559|117,918||-|430,491|
|Addition|6,405|-|4,498||96,434|107,337|
|Disposal|(287,419)|-|-||-|(287,419)|
|At 31 March 2024|**-**|**31,559**|**122,416**||**96,434**|**250,409**|
|**Depreciation and impairment**|||||||
|At 1 September 2023|41,671|24,684|42,721||-|109,076|
|Depreciation charge in the year|7,631|1,811|17,884||-|27,326|
|Depreciation on disposal|(49,302)|-|-||-|(49,302)|
|At 31 March 2024|**-**|**26,495**|**60,605**||**-**|**87,100**|
|Balance at 31 March 2024|-|**5,064**|**61,811**||**96,434**|**163,309**|
||||||||
|Balance at 31 August 2023|239,343|6,875|75,197||-|321,415|
||||||||
|**11** **Stocks**|||**2024**||**2023**||
||||||**£**|**£**|
|Work in progress|||||-|23,396|
17
## **YOUTH MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 MARCH 2024**_
|**12**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
Other debtor
|**2024**
**£**
64,621
1,261,875
~~3,794~~
1,330,290|**2023**
**£**
54,472
1,492,064
1,487,274|
|---|---|---|
Included within debtors due within one year is an amount of £1,244,833 (2023: £1,479,833) owed in relation to accrued income.
## **13 Creditors: amounts falling due within one year**
|Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
|**2024**
**£**
6,305
15,456
-
259,248
281,009|
|---|---|
Included in accrued expenses is deferred income totalling £259,248 (2023: £151,295) which represents incoming resources for which the related services have yet to be provided.
## **14 Creditors: amounts falling due after more than one year**
|**Creditors: amounts falling due after more than**|**one year**||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Other loans|-|-|
18
## **YOUTH MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 MARCH 2024**_
## **15 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
**Movement in funds**
|Chapel fund
Grotto fund
Team Training fund
Awards fund
GenesisTrust
Connectedness 2 - Inreraction fund
Kroch Foundation fund
Significance fund
Porticus
DDC Tree Fund
Assumption Legacy
Lourdes Pilgrimage
William Leech|**Balance at**
**1 September**
**2023**
**Incoming**
**resources**
**Resources**
**expendedTransfers**
**Balance at**
**31 March 2024**
**£**
**£**
**£**
**£**
**£**
14,412
-
-
14,412
63,397
75
(4,380)
-
59,092
5,269
-
(785)
-
4,484
6,357
1,920
(2,056)
-
6,221
-
500
-
-
500
5,061
-
-
-
5,061
1,115
-
-
-
1,115
1,215,224
-
(6,521)
-
1,208,703
147,904
-
(1,027)
-
146,877
4,800
-
(5,760)
-
(960)
-
39,000
(25,855)
-
13,145
-
-
-
-
-
-
20,000
(5,234)
-
14,766|
|---|---|
||1,463,539
61,495
(51,618)
-
1,473,416|
## **Chapel fund**
This fund represents donations received to fund the build and repairs of the chapel.
## **Grotto fund**
This fund represents donations received to fund the build of the new grotto.
## **Team training fund**
This fund represents donations received for providing team training which had not been possible during to the pandemic.
## **Awards fund**
This fund represents donations received for the Pope John Paul II awards.
## **Connectedness 2 - Interaction fund**
This fund represents monies received from The William Leech Foundation for the support of the "Connectedness 2" project.
## **Koch Foundation fund**
This fund represents monies received from The Koch Foundation for the "To support a Youth Ministry" project.
## **Significance fund**
This fund represents monies received from the Significance Trust to contribute to modernising and developing the facilities at the Emmaus Youth Village.
## **Porticus**
This represents a grant to support an audit of safeguarding with the charity as well as funding of salary for a safeguarding post.
## **DCC Tree Fund**
This is a grant to plant trees on the site as Durham County Council's woodland revival project.
## **Assumption Legacy**
This fund is to support the YMT internship, living expenses, training and resources.
## **William Leech**
This fund is to support the YMT Internship, staff training and IT upgrades.
19
## **YOUTH MINISTRY TRUS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 MARCH 2024**_
|Chapel fund
Grotto fund
Team Training fund
Awards fund
Connectedness 2 - Inreraction fund
Kroch Foundation fund
Significance fund
Porticus
DDC Tree Fund|**Movement in funds – 2023**
**Balance at**
**1 September**
**2022**
**Incoming**
**resources**
**Resources**
**expendedTransfers**
**Balance at**
**31 August**
**2023**
**£**
**£**
**£**
**£**
**£**
14,412
-
-
14,412
23,493
40,956
(1,062)
-
63,397
8,350
-
(3,081)
-
5,269
5,730
3,834
(3,208)
-
6,357
-
20,000
(14,939)
-
5,061
1,115
-
-
-
1,115
1,475,021
-
(25,515)
(234,282)
1,215,224
-
155,063
(7,159)
-
147,904
-
4,800
-
-
4,800|
|---|---|
||1,528,121
224,663
(54,963)
(234,282)
1,463,539|
## **Transfer between funds**
The transfer between restricted and unrestricted funds represents capital expenditure in the period funded by the Significance fund.
## **16 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|Capital asset fund
Capital asset fund|**Balance at 1**
**September**
**2023**
**Resources**
**expensed**
**Transfers**
**Balance at**
**31 March**
**2024**
**£**
**£**
**£**
**£**
241,383
(230,117)
-
3,266|
|---|---|
||241,383
(230,117)
-
3,266|
||**Balance at 1**
**September**
**2022**
**Resources**
**expensed**
**Transfers**
**Balance at**
**31 August**
**2023**
**£**
**£**
**£**
**£**
10,409
(3,308)
234,282
241,383|
||10,409
(3,308)
234,282
241,383|
20
## **YOUTH MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 MARCH 2024**_
|**17 Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total Unrestricted**
**funds**
Fund balances at 31
March 2024 are
represented by:
Tangible assets
Current assets/(liabilities)
**2024**
**£**
163,309
(158,403)
**2024**
**£**
-
1,473,416
**2024**
**£**
163,309
1,315,013
**2023**
**£**
321,415
(12,393)
4,906
1,473,416
1,478,322 309,022
**18 Cash generated from operations**
Surplus/(Deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase in creditors
**Cash generated from operations**|**17 Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total Unrestricted**
**funds**
Fund balances at 31
March 2024 are
represented by:
Tangible assets
Current assets/(liabilities)
**2024**
**£**
163,309
(158,403)
**2024**
**£**
-
1,473,416
**2024**
**£**
163,309
1,315,013
**2023**
**£**
321,415
(12,393)
4,906
1,473,416
1,478,322 309,022
**18 Cash generated from operations**
Surplus/(Deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase in creditors
**Cash generated from operations**|**Restricted**
**funds**
**2023**
**£**
-
1,463,539|
|---|---|---|
||4,906
1,473,416
1,478,322 309,022|1,463,539|
|||**2024**
**£**
(294,239)
(240)
-
324,705
23,396
156,984
41,295
251,901|
21
## **YOUTH MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 March 2024**_
|**19**
**Analysis of changes in net funds**
**At 1 September**
**2023**
**£**
**Cash flows**
**£**
**At**
Cash at bank and in hand
Loans falling due after more than one year
120,928
-
144,804
-
120,928 144,804|**31 March**
**2024**
**£**
265,732
-
265,732|
|---|---|
## **20 Related party transactions**
The Diocese of Hexham and Newcastle is identified as a member of the Trust.
The activities of the Trust are run through properties owned by the Diocese of Hexham and Newcastle. No rent is charged to the Trust for the use of these facilities.
During the year, there was income received from the Diocese of Hexham and Newcastle totalling a £nil (2023: £185,000) in grant funding towards the general running costs.
The Charity also received £nil (2023: £40,000) from Sisters of Mercy Sunderland, where K Matthews also holds a position on the Trustee board.
22
## **YOUTH MINISTRY TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE PERIOD ENDED 31 MARCH 2024**_
## **Prior financial year**
|**Income and endowments from:**
Donations and legacies
Charitable activities
Other trading activities
Investments
Other income
**Unrestricted**
**funds**
**2023**
**Notes**
**£**
**2**
212,929
**3**
599,831
**4**21,795
81
2,204
**Restricted**
**funds**
**2023**
**£**
221,044
3,619
-
-
-
**Total income**
836,840 224,663
**Expenditure on:**
Raising funds
Charitable activities
**5**
30,433
6
706,831
-
54,963
**Total expenditure**
**Net incoming resources before transfers**
Gross transfers between funds
**Net income/(expenditure) for the year/**
**Net movement in funds**
Fund balances at 1 September 2022
**Fund balances at 31 August 2023**
737,264
99,576
234,282
333,858
(24,836)
309,022
54,963
169,700
(234,282)
(64,582)
1,528,121
1,463,539|
|
|---|---|
|||
|||
23