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2021-03-31-accounts

US Charitable Trust

Charity No. 1147089

Company No. 07953247

Trustees' Report and Unaudited

Accounts 31 March 2021

US CHARITABLE TRUST (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1147089

Principal Office

US Charitable Trust Newman Catholic College 145 Harlesden Road NW10 3RN

Trustees

The Trustees,who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2021.

The following Trustees served during the year:

Mrs S M Balfour Mr C Nyawo Ms E McKay Mr P Yawlui (resigned April 2020)

Mr J Diego Giraldo Arcila appointed August 2020

Accountant

Sydney Hudson Ltd. 85 Great Portland Street London W1W 7LT

2

US CHARITABLE TRUST (LIMITED BY GUARANTEE)

Contents

Page
Trustees’ Report 4-7
Independent’s Examiner’s Report 8-9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Accounts 12-19

3

US CHARITABLE TRUST (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity is a charitable company limited by guarantee, incorporated on 16 February 2012 and registered as a charity on 2 May 2012. The charity subsequently changed its name from The Harlesden Hub to US Charitable Trust on 8 July 2013. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1 each.

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as Trustees. Under the requirements of the Memorandum and Articles of Association all Trustees must be members. Subscribers to the Memorandum (being the first Members) are also the first Trustees. Subsequent Trustees are elected by the Members. There must be at least three and not more than ten Trustees at any one time. Trustees remain in office until they cease to be a Member, resign by written notice to the Trustees (but only if at least two Trustees will remain in office) or otherwise becoming ineligible to hold office in accordance with the Memorandum.

All Trustees give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in Notes to the accounts.

Due to the geographical area in which the charity operates, the Trustees seek to ensure that local representatives are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees the charity has, through selective advertising in the local community, sought to identify residents in the local community who would be willing to become members of the charity.

The more traditional business skills are otherwise well represented amongst the Trustees.

Most Trustees are already familiar with the responsibilities and duties required of them. Currently, due to the size of the charity there are no formal systems in place with regard to Trustee training and induction. This will be reviewed as and when new Trustees are recruited.

The charity has a Board of Trustees made up of between three and ten Trustees who meet twice a year and are responsible for the strategic direction and policy of the charity. At present the Board has three members from a variety of professional backgrounds relevant to the work of the charity. The charity has also established an Advisory Board from which to draw on the expertise and advice from a variety of sources. Members of the Advisory Board include Headteachers, Assistant Headteachers, Community Leaders, parents and students.

Day to day responsibility has been delegated to Trustee and Chair Mrs S Balfour along with a Director of Operations. The Chair is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Director of Operations is

4

responsible for managing personnel, finances, operations, logistics, business matters, corporate and legal issues.

In so far as it is complementary to the charity's objects, the charity works closely with other key local organisations such as Young Brent Foundation, John Lyons Charity, London Youth, The Prince’s Trust, Radley College, Newman Catholic College and Imperial College.

The Trustees has assessed the major risks to which the Charity is exposed. A risk register has been established and will be updated at least annually going forward. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces.

OBJECTIVES AND ACTIVITIES

The Charity's purposes as set out in the objects contained in the charity's Memorandum of Association are to further or benefit the residents of Brent, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation or other leisure time occupation with the objective of improving the conditions of life for the residents.

The aims of the charity are to help young people in the deprived area of Brent, London and its surrounding neighbourhoods broaden their ambitions, opportunities and curiosity. The charity aims to develop the skills, passion and appetite of residents aged between 10 and 25, and encourage them to pursue their own particular interests, to achieve their full potential and, ultimately, to secure long-term employment. These aims fully reflect the purposes that the charity was set up to further.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

The activities of the charity in the period were limited to the following: Running activities in the local community to enhance the conditions of life for young people.

FINANCIAL REVIEW

This year the charity raised £85,559 and expended £80,047 in delivering their programmes. At the end of the accounting period the charity had a reserve of £40548.

5

ACHIEVEMENT AND PERFORMANCE

The year 2020-2021 was trying, exasperating, sad but also joyful and amazingly useful for US as well as people all over the World.

US was lucky to have been able to access the tools and platforms to allow access to our practitioners, more or less immediately. But not withholding the learning curve. I.e., how to safely connect, how to support students with weak or no WiFi, multiple users needing access through a single parent’s telephone, and how to communicate with black screens.

Our break-through came with our live in-person four-week summer camp, half term in-person camps and our Christmas programme of food and presents. Throughout the school term we ran our Zenobia programme and tightened our commitment from Radley by having them engage with Newman Catholic College online learning programmes with our Maths Students.

“ We were delighted when our year 11 students were offered the amazing opportunity to use the EasyA app, giving them access to A-level mathematicians at Radley College, ready to help with our boys' queries on any Maths GCSE topic or question. Our students have had nothing but praise for the invaluable help received from the online mentors, and are extremely keen to continue and further develop this mutually beneficial relationship”. NCC Head Teacher

We continued to successfully support our students with preparations for Careers and University and interviewing skills as well as enhancing the dialogue between Balfour Beatty’s massive educational and work experience opportunities as well as connections with local Secondary schools.

We used our time and new communication platforms, teams, zoom, and webinars and others to expand the training of our team, learn new skills for reporting, evaluations and fundraising as well as expanding our networks to build a solid resource bank.

We reassessed our image, our outcomes and our future. An outside provider revamped our image this gave us room to concentrate on our priorities and re-evaluate our core values.

We hired a very experienced Chief Operating Officer Tiffany Li. Tiffany has solid experience in working with secondary schools and a strong careers training background, coupled with teaching experience. Her network of partner organisations and business support organisations has really given our young

6

people amazing opportunities and experiences in careers advice and support to accomplish their dream career.

We achieved our Bronze Award from London Youth, which also had us think deeply about our values and sustainability and our long distance vision. They are advising US on teaming with an organisation with experience and recognition who will work with our students to give them certificates of value for work and achievements in addition to the Jack Petchey Awards.

Sustainability is key, to find ways to monetise our skills and work without damaging our charitable status and cheapening our product. Our young people need steady continuous support which can adapt to their changing needs but must always be continuous and constant.

Our young people need steady continuous support which can adapt to their changing needs but must always be continuous and constant. We ended the year on a positive funding high, having gained accreditation from CAF USA including a $45000 gift, which will allow US to accept any donations from the USA.

Serena Balfour Chair 22 April 2021

7

Independent Examiner's Report to the trustees of US Charitable Trust

I report on the accounts of US Charitable Trust for the period ended 31 March 2020 which comprises of the Statement of Financial Activities, the Statement of Financial Position and the related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with regulations made under Section 144 of the Charities Act 2011. My examination has been undertaken for no purpose other than to draw to the attention of the charity’s trustees those matters which I am required to include in an independent examiners’ report addressed to them. To the fullest extent permitted by law, I do not accept or assume responsibility to any party other than the charity and charity’s trustees as a body, for my examination, for this report, or for the opinions I have formed.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under charity law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Beverley Sydney BSc MAAT Accountant

9

US Charitable Trust Statement of Financial Activities

for the year ended 31 March 2021

Notes
Income and endowments
from:
Donations and legacies
4
Total
Expenditure on:
Raising funds
5
Charitable activities
6
Other
7
Total
Net gains on investments
Net income
8
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
2021
£
44,035		 Restricted
2021
£
41,524		 Total funds
2021
£
85,559		 Total funds
2020
£
73,688
44,035
-
16,328
1,577		 41,524
18,103
33,375
10,664		 85,559
18,103
49,703
12,241		 73,688
-
36,235
34,704
17,905
-		 62,142
-		 80,047
-		 70,939
-
26,130
-		 (20,618)
-		 5,512
-		 2,749
-
26,130 (20,618) 5,512 2,749
26,130
3,660		 (20,618)
31,376		 5,512
35,036		 2,749
32,287
29,790 10,758 40,548 35,036

10

US Charitable Trust Balance Sheet

at 31 March 2021

Company No.
07953247
Notes
2021
£
Fixed assets
Tangible assets
10
1,587
1,587
Current assets
Cash at bank and in hand
38,962
38,962
Creditors:Amount falling due within one year
11
(1)
Net current assets
38,961
Total assets less current liabilities
40,548
Net assets excluding pension asset or liability
40,548
Total net assets
40,548
The funds of the charity
Restricted funds
12
Restricted income funds
10,758
10,758
Unrestricted funds
12
General funds
(14,245)
Designated funds
44,035
29,790
Reserves
12
Total funds
40,548		 2020
£
4,445
4,445
30,591
30,591
-
30,591
35,036
35,036
35,036
31,376
31,376
3,660
-
3,660
35,036

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 22 April 2021

And signed on its behalf by:

Juan Diego Giraldo Arcila (Dec 7, 2021 20:54 GMT)

Mr J Diego Giraldo Arcila 22 April 2021

11

US Charitable Trust Notes to the Accounts

for the year ended 31 March 2021

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value at revaluation of fixed the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

12

US Charitable Trust Notes to the Accounts

Expenditure

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Electrical equipment 25%% Straightline method

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

13

US Charitable Trust Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

14

US Charitable Trust

Notes to the Accounts

3 Statement of Financial Activities - prior year

3
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Total
Expenditure on:
Raising funds
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
Main Grant - National Lottery
Other Donations
Charities Aid Foundation
America
John Lyons Charity
5
Expenditure on raising funds
Costs of generating voluntary
income
Development Manager		 Unrestricted
£
-
14,250
29,785
-
44,035		 Unrestricted
funds
2020
£
38,688
38,688
(29,786)
36,235
34,704
41,153
(2,465)
(2,465)
(2,465)
6,125
3,660
Restricted
£
35,624
-
-
5,900
41,524
Restricted
£
18,103
18,103		 Restricted
funds
2020
£
35,000
35,000
29,786
-
-
29,786
5,214
5,214
5,214
26,162
31,376
Total
2021
£
35,624
14,250
29,785
5,900
85,559
Total
2021
£
18,103
18,103		 Total funds
2020
£
73,688
73,688
-
36,235
34,704
70,939
2,749
2,749
2,749
32,287
35,036
Total
2020
£
73,688
-
-
-
73,688
Total
2020
£
-
-

15

US Charitable Trust

Notes to the Accounts

6 Expenditure on charitable activities

Expenditure on charitable
activities
Advertising/Rebranding
Student Activities
Governance costs
COO
COO/Contractor
7
Other expenditure
Employee costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
8
Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets
9
Staff costs
Salaries and wages
Social security costs		 Unrestricted
£
7,573
8,755
-
-
16,328
Unrestricted
£
-
-
529
1,048
-
1,577		 Restricted
£
-
-
15,653
17,722
33,375
Restricted
£
6,238
-
-
-
4,426
10,664
2021
£
529
-
6,238
6,238		 Total
2021
£
7,573
8,755
15,653
17,722
49,703
Total
2021
£
6,238
-
529
1,048
4,426
12,241		 Total
2020
£
-
36,235
-
-
36,235
Total
2020
£
31,858
170
583
900
1,193
34,704
2020
£
583
31,362
496
31,858

No employee received emoluments in excess of £60,000.

16

US Charitable Trust Notes to the Accounts

10 Tangible fixed assets

10 Tangible fixed assets
Cost or revaluation
At 1 April 2020
At 31 March 2021
Depreciation and impairment
At 1 April 2020
Depreciation charge for the
year
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020
11 Creditors:
amounts falling due within one year
Accruals and deferred income		 2021
£
-
1		 Electrical
equipment
£
7,672
7,672
5,556
529
6,085
1,587
2,116		 Total
£
7,672
7,672
5,556
529
6,085
1,587
2,116
2020
£
-
-

17

US Charitable Trust

Notes to the Accounts

12 Movement in funds

Restricted funds:
Restricted income funds:
Main Grant - National Lottery
John Lyons Charity
Total
Unrestricted funds:
General funds
Designated funds:
Charities Aid Foundation
America
Other Donations
Fred Fellowes
Earl Fitz
Jack Petchey Foundation
Total
Revaluation Reserves:
Total funds		 At 1 April
2020
1,376
30,000
31,376
3,660
-
-
-
-
-
-
35,036		 Incoming
resources
(including
other
gains/losses)
£
35,624
5,900
41,524
-
29,785
10,750
2,000
1,000
500
44,035
85,559		 Resources
expended
£
(25,656)
(36,486)
(62,142)
(17,905)
-
-
-
-
-
-
(80,047)		 At 31
March
2021
£
11,344
(586)
10,758
(14,245)
29,785
10,750
2,000
1,000
500
44,035
40,548

Purposes and restrictions in relation to the funds:

Restricted funds: Restricted funds:
Main Grant - National Lottery Administrations purposes
John Lyons Charity COO wages 20/21
Designated funds:
Jack Petchey Foundation
Prize award for young persons

13 Analysis of net assets between funds

Fixed assets
Net current assets		 Unrestricted
funds
£
1,587
29,784
31,371		 Restricted
funds
£
-
9,177
9,177		 Total
£
1,587
38,961
40,548

18

US Charitable Trust

Notes to the Accounts

14 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 April
2020
£		 Cash flows
£		 At 31
March
2021
£
30,591 8,371 38,962
30,591
30,591		 8,371
8,371		 38,962
38,962

15 Related party disclosures Controlling party

19

USCharitableTrust_310321 - urgent

Final Audit Report 2021-12-07

Created: 2021-12-05 By: Beverley Sydney (admin@sydneyhudson.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAO_Hv8Br96jtxRnrgAO7TV-hbdXOtGHNB

"USCharitableTrust_310321 - urgent" History

Document created by Beverley Sydney (admin@sydneyhudson.co.uk)

2021-12-05 - 3:08:08 PM GMT- IP address: 82.7.115.18

Document emailed to Juan Diego Giraldo Arcila (as.juandiego12@gmail.com) for signature 2021-12-05 - 3:09:11 PM GMT

Email viewed by Juan Diego Giraldo Arcila (as.juandiego12@gmail.com) 2021-12-07 - 8:52:56 PM GMT- IP address: 2.31.172.170

Document e-signed by Juan Diego Giraldo Arcila (as.juandiego12@gmail.com) Signature Date: 2021-12-07 - 8:54:15 PM GMT - Time Source: server- IP address: 2.31.172.170

Agreement completed.

2021-12-07 - 8:54:15 PM GMT