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2025-03-31-accounts

IMP REP 202 INSPIRING CHANGE, CHANGING FUTURES The Us Charitable Trust

TABLE OF CONTENTS 103 ,---,.,~, 104 ...,,-.,- 105 ,..-,....., 106 ,-.-.,,,--., 107 108 ,,...,,,.~, EVENT HIGHLIGHTS 02 THE US CHARITABLE TRUST I IMPACT REPORT 2025

CHAIRMAN'S REPORT The Us Charllable Trust team has achieved an Incredlble amount of Innovallve work each year, and 2025 saw the launch of our new programme Ernpower Her. Created In partnership wlth Alperton Community School and the Jason Roberts Foundation, th15 special initiativè supports girls aged 11-12 and their families, helping to drive 5y5temic change in Brent and opening up wider opportunltles for them lo see the full scope of Ihelr abS1illes. Our Zenobia Scholars and Youth Ambassadors also continue lo grow, with every new cohort showing even greater ambition. creatlvlty, and talent. We remaln commltted lo supportlng young people durlng the hollday periods somethlng we have done since the very beginning ol Us because this is such a vulnerable lirne for them. Our holiday activities continue lo provide not only enlertalnment but also learning, while keepSng young people busy, safe and led. This year we are also launching The Phoenix Project. a new inilietive for young people aged 18-25.11 is designed to offer tralning, skills development, and career opportunitSes to bridge the gap between educatlon and employment. We have been concerned lor some time about how best to support our alumni once they leave school, especially those who do not go straight into university or good lobs, and thls project Is our response. In addition, we are planning two exciting new developments. The first is lo build a broader funding base by forming partnerships with companles and buslnesses whose goals match ours, wlth the hope of launchlng later this autumn. While we remain deeply thankful lo John Lyons Charity and 8BC Children in Need for their incredible support, we know it is now vital to strengthen our base through business links if we want lo secure our future. The second development is an international exchange with Tutume Mcconnell Comrnunily College in Botswana. originally lounded by the Mcconnell Foundation 50 years ago. In 2026 we plan to take students from Brent lo work on two environment81 projects Installing solar panels and planting trees as well as creating a new website for Tutume. Al the end of the trip, there will be the unforgettable experience of a salari in the Okavango. The students chosen will raise half ol their costs, which will be match-funded by the Marcus Rashlord Foundation, while Us will cover the travel of two accompanying staff. Serena Balfour FOUNDER & CHAIRMAN 03 THE US CHARITABLE TRUST I IMPACT REPORT 2025

KEY ACHIEVEMENTS 1500 young people supported in the 2024-25 academic year major programmes run throughout the year with plans lo extend to a fifth one In the 2025-26 year external workshops and trips run throughout the year large-scale events run throughout the academic year 30 32 corporale interactions with young people paid work experlence and volunteer opportunities for young people ,11 04 THE US CHARITABLE TRUST I IMPACT REPORT 2025

CONTRIBUTIONS Volunteer Contributions 32 volunteers- all young people that the charity sees and supports weekly 100+ hours across all events Notable events including Iftar, Summer and Holiday Camps, Industry Panels, Youth Ambassadors, and Zenobia Scholars Corporate Contributions Charlie Bigham's participation in Industry events and donation to Youth Ambassadors programme Donation from Bently Studio Over £1000 worth of food donated by Roti King Engagement from at least 45 businesses and organisations Notable events including Iftar, Industry Panel, Careers Fair, Youth Ambassadors and Zenobia Scholars 05 THE US CHARITABLE TRUST I IMPACT REPORT 2025

PROGRAMME HIGHLIGHTS Fulure Voice The Us Charity engaged with students from three partner schools, providing career advice, interactive workshops, and opportunities to give back to the community through work experience and shadowing placements. In one example, Year 12 and 13 students joined the charity's team to deliver career guidance sessions for Year 10 students preparing for their GCSES and beginning to explore their future career paths. Empower Her The 2024-25 academic year marked the launch of our new programme in collaboration with Alperton Community School and the Jason Roberts Foundation. Designed to support girls aged 11-12 and their families in a holistic way, the programme aims to drive systemic change within Brent and the wider community. It will run for an additional two years. welcoming a new cohort of girls from primary school each year, with the goal of supporting a total of 90 students and creatlng lastlng, sustainable impact. Zenobia Scholars Building on the overwhelmingly positive outcomes of the previous year, the programme has expanded to continue supporting our Year 13 Zenobia alumni while also welcoming and nurturing a new cohort of Year 12 participants. The alumni have played an active role in supporting programme leaders by planning and delivering workshops, organising trips. and mentoring the new group. Al its core, the programme remains committed to empowering young women by Pfoviding opportunities and experlences thal ale not readily available within the school System. 'As on externol focilitotor, It is o pleosure to work with the Zenoblo Scholors progromme. Alisho Is Incredlbly orgonised. cleor In her briefings. ond posses on communicotion to the girls so that everyone is prepored for my sesslons - o dreoml Together Alisho ond Tiff consistently creote o spoce for these young women-within sometime5 chootlc schools ond challenging circumstances-where they can feel sofe, be themselves and build supportive friendship5, which means as on external facilitator covering sen51tive tOPlC5 (like healthy relationships, sex. contraception, and pleasure) I can do my best Work." Tasha Mansley, Facllitalor and Trainer, Full Clrcle Facilltatlons Youth Ambassadors This programme has evolved to better meet the needs of our young people. Initially, it brought together Year 12 cohorts from three partner schools for monthly group se55ions. However, this year, the format was adapted to provide fortnightly in-house support al each individual school, complemented by larger joint sessions held every other month. These wider gatherings featured events organised and led by the young participants themselves studenls driven by a shared passion for creating positive change within their communities. Suninier & Holidiiy Ciimps There has always been a strong demand for after-school and holiday activities. In collaboration with our partner, the Jason Roberts Foundatlon, and additional funding through various grants, the charity has been able to organise and deliver its annual summer camp, along with addilional holiday programmes to support students from Alperton Community School. Phoenix Project The Us Charity is launching a new initiative for the 2025-26 academic year: the Phoenix Prolect. This programme is designed to provide training, skills development, and career opportunilies lor young people aged 18-25. helping them bridge the gap between education and employment. Rooted in the belief Ihal young people are the changemakers of tomorrow, the project aims to empower the next generation to continue making a meaningful impact. "Storting o plocement period with the Us Choritoble Trust is one of the best decisions I hove ever mode. Throughout the few months I hove been working with them. my confidence hos improved dromoticolly. I hove goined experience in helping to plon ond corry out workshops. os well os further developing interpersonol skills such os leodership ond working well in o teom. Working with the Us Choritoble Trust hos helped me to reolise my true potentiol, and given me the confidence to try new things in both my professionol ond personol life." Molikoh Begum-Boiley, Phoenix Project Student and Volunteer 06 THE US CHARITABLE TRUST I IMPACT REPORT 2025

EVENT HIGHLIGHTS Careers Fair The Us Charitable Trust successfully organised and hosted two career fairs at Newman Catholic College and The Crest Academy on 25 February and 3 April 2025, respectively. Both events welcomed over 25 companies and universilies, offering students from Year 7 to Year 13 the opportunity to engage directly with professionals from a wide range of industries. A key leature ol the events was the use of interactive bingo cards. designeé to help young people network confidently and eflectively. This innovative approach proved highly successful, with both students and professionals praising the activity as an excellent icebreaker that encouraged meaningful conversations and connections. International Women's Day To celebrate International Women's Day. we hosted three inspiring women's panels al Newman Cathollc College and The Crest Academy. Held annually in March, International Women's Day provided the perlect backdrop to spotlight a remarkable group of women who reflect the diversily. strength, and aspirations of the young women we support. The panels were divided by gender, allowing for tailored discussions that addressed themes and issues most relevant to each group. This approach created a safe, meaningful space for students to engage in open dialogue, ask questions, and gain valuable insighls from female iole models across various industries. lftcir To celebrate the holy month of Ramadan, we partnered with Newman Catholi¢ College's PTA to organise and host a community iftar on 5 March 2025. The event brought together students from both of our core programmes-youth Ambassadors and Zenobla Scholars along with dedicated alumni who volunteered to support the evening. The event was a truly inclusive gathering that highlighted the power of community, reflectlon, and shared values. We were also deeply grateful lo Rotl Klng, who generously donaled over £1.000 worth of food, helping ensure that every young person and their family had a warm, nourishing meal lo enjoy as parl of oui commitment lo accessible and welcoming community events. Api)rpnticesliip ciiid Iiidiislry P(Inels To mark National ApprentSceshlp Week, we hosted a series of engaglng panel discussions leaturlng both current apprentices and employers from a wide range of sectors. The ponels aimed to raise awareness of alternative career pathways and provide students with real-life insights into the world of apprenticeship5. Guests included law apprentices. to professionals from esteemed organisalions such as the Ministry of Defence, who shared their personal journeys, challenges, and advice. The sessions offered students a unique opportunity to ask questions, hear first-hand experiences, and better understand the diverse routes available after school. Drop-down Days The Us Charity facilitated five drop-down days at Newman Cathollc College. centred around the themes of 'Careers and the Wider World, and 'Mental Health and Wellbeing,. Each session was thoughtfully designed for a specific year group, spanning Years 8 10 10, lo ensure age-appropriale and engaging content. The days were delivered by a diverse mix of Us Charity staff, alumni, and corporate volunleers, offering students a range of perspectives and real-world insights. The events were warmly received, with students providing enthusiastic feedback obout what they had learned and highlighting new interest5 and potential career paths they had not previously considered. These sessions created valuable space for students to explore both their personal wellbeing and future aspirations, all within a supportive and inspiring environment. Corporate Trips Thanks to our long-standing relationships with corporate and government partners, we organised three enriching trips for our young people, offering unique insight into a range of professional environments. One highlight was an Insight Day at the Minislry of Justice HQ, where students worked in teams to pitch innovative ideas for prison reform directly to a government minister a rare opportunity thal encouraged critical thinking. collaboration, and public speaking. Another group visited Charlie Blgham's. where students were given a behind-lhe-scenes factory tour and heard personal career stories Irom chefs, engineers. and other professionals, providing a well-rounded view of the lood industry. Finally, students attended an Insight Day at Publicis Groupe, gaining exposure to the world of media, advertising, and communications, and learning directly from industry experts. 07 THE US CHARITABLE TRUST I IMPACT REPORT 2025

FUNDING SUMMARY 2024-25 John Lyons Charity l National Lottery I Children in Need I CAF I HAF Charlie Bigham's l Monkey Puzzle I St. James Place I Studio Bentley COO'S REPORT Rellectlng on this academic year, l am filled wlth irnmense pride In the resilience and achievements ol our young people. Each milestone whether It's a new partnershlp, a successful event, or a young person slepping confldenlly Into Iheir future reminds us why we do what we do. Our team's dedication and the unwavering support Iforn our community have enable us to reach rnore young people than ever before. ensuring that our core values of comrnunlly, Incluslvlty, and youth volce rernaln at the heart of every programme we dellver. This year, we have strengthened our partnership with our lunders, ènd as a result, the charity has truly thrived this academlc year. We have expanded our reach, diversified our income streams, and deepened our impact through innovative prograrnmes like Future Voice, Zenobia Scholars, and Youth Ambassadors truly "inspiring change, shaping futures" These Initiatives are not just about skills development they are about fostering belonging, ambition, and hope in every young person we serve. We have also launched our new project. The Phoenix Project, supporting 18-25 year olds as they navigate the world of work. Furthermore. our alurnnl network has not only grown bul has seen more of our alumnl eager to return as volunteers, helping younger people and amplifying youth voices. Looklng ahead. we are exclted lo bulld on this momentum. Wlth new schools l0Sning our network. a locus on sustainable growth. and a stronger bond with both the comrnunily and local companies. we are poised lo ernpower even more young people lo shape their own futures. Next academic year, we will locus on developing corporate partnerships and increasing corporate engagement. We are also now looking for a fourth member of staff, who will take on the role of Youth Coordinator for the start of the next academic year. Our journey is one of collaboration. adaptability, ènd unwavering belief in the potential of every young person. Together, we will continue to break down barriefs, celebrate achievements. and create lasting change in our community. Tiffany Li CHIEF OPERATING OFFICER 08 THE US CHARITABLE TRUST I IMPACT REPORT 2025

US Charitable Trust

Charity No. 1147089

Company No. 07953247

Trustees' Report and Unaudited Accounts 31 March 2025

US CHARITABLE TRUST (LIMITED BY GUARANTEE)

Contents

Page
Trustees’ Report and Chair's Report 11 - 13
Independent’s Examiner’s Report 14 - 15
Statement of Financial Activities 16
Balance Sheet 17
Notes to the Accounts 18 - 27

10

US CHARITABLE TRUST (LIMITED BY GUARANTEE) LLEGAL AND ADMINISTRATION INFORMATION

REFERENCE AND ADMINISTRATIVE DETAILS Charity No. 1147089

Principal Office

The US Charitable Trust Alma Grove Combe Witney Oxon OX29 8NA

Registered 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 2025.

The following Trustees served during the year;

Mrs S M Balfour Mr C Nyawo Ms E McKay Mr J Diego Miss T Li Mrs J Macleod Ms H Animashaun Mr Akeem Graham Ms Naduya Ismail Mr Alfred Quartey Mr C Balfour Mr D Donnelly Ms C Ainley

Accountant Sydney Hudson Ltd. Bedford Heights Brickhill Drive Bedford Bedfordshire MK41 7PH

11

US CHARITABLE TRUST (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

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

12

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 Monkey Puzzle, 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.

FINANCIAL REVIEW

This year the charity raised £215,342 and expended £132,775 in delivering their programmes. At the end of the accounting period the charity had a reserve of £30,000.

13

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 2025 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:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

have not been met; or

14

(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 Independent Examiner

Sydney Hudson Ltd. Bedford Heights Brickhill Drive Bedford MK41 7PH

15

US Charitable Trust Statement of Financial Activities

for the year ended 31 March 2025

Notes
Income and endowments
from:
Donations and legacies
4
Total
Expenditure on:
Charitable activities
5
Other
6
Total
Net gains on investments
Net income/(expenditure)
7
Transfers between funds
Net income/(expenditure)
before other gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2025
£
41,835		 Restricted
funds
2025
£
173,507		 Total funds
2025
£
215,342		 Total funds
2024
£
129,858
41,835
-
16,215		 173,507
14,402
102,158		 215,342
14,402
118,373		 129,858
20,007
125,304
16,215
-		 116,560
-		 132,775
-		 145,311
-
25,620
-		 56,947
-		 82,567
-		 (15,453)
-
25,620 56,947 82,567 (15,453)
25,620
86,650		 56,947
(15,454)		 82,567
71,196		 (15,453)
86,649
112,270 41,493 153,763 71,196

16

US Charitable Trust Balance Sheet

at 31 March 2025

Company No.
07953247
Notes
2025
£
Fixed assets
Tangible assets
9
342
342
Current assets
Debtors
10
-
Cash at bank and in hand
153,421
153,421
Creditors:Amount falling due within one year
11
-
Net current assets
153,421
Total assets less current liabilities
153,763
Net assets excluding pension asset or liability
153,763
Total net assets
153,763
The funds of the charity
Restricted funds
12
Restricted income funds
41,493
41,493
Unrestricted funds
12
General funds
84,867
Designated funds
27,403
112,270
Reserves
12
Total funds
153,763		 2024
£
489
489
5,250
74,287
79,537
(8,830)
70,707
71,196
71,196
71,196
(15,454)
(15,454)
86,650
-
86,650
71,196

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 2025 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 30 June 2025

And signed on its behalf by:

Serena Balfour

Trustee

30 June 2025

17

US Charitable Trust Notes to the Accounts

for the year ended 31 March 2025

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

18

US Charitable Trust Notes to the Accounts

Expenditure

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%% Reducing 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.

19

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.

20

US Charitable Trust Notes to the Accounts

2 Company status

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

3 Statement of Financial Activities - prior year

3 Statement of Financial Activities - prior year
Unrestricted Restricted
funds funds Total funds
2024 2024 2024
£ £ £
Income and endowments from:
Donations and legacies 32,827 97,031 129,858
Total 32,827 97,031 129,858
Expenditure on:
Charitable activities 20,007 - 20,007
Other 44,073 81,231 125,304
Total 64,080 81,231 145,311
Net income (31,253) 15,800 (15,453)
Net income before other
gains/(losses)		 (31,253) 15,800 (15,453)
Other gains and losses:
Net movement in funds (31,253) 15,800 (15,453)
Reconciliation of funds:
Total funds brought forward 86,649 - 86,649
Total funds carried forward 55,396 15,800 71,196
4 Income from donations and legacies
Unrestricted Restricted Total Total
2025 2024
£ £ £ £
Main Grant - National Lottery 41,835 - 41,835 32,750
Other Donations 0 173,507 173,507 97,031
Charities Aid Foundation
America		 - - - 77
41,835 173,507 215,342 129,858

21

US Charitable Trust

Notes to the Accounts

5 Expenditure on charitable activities

Expenditure on charitable
activities
Charity Activities
Contractors
Governance costs
6
Other expenditure
Other interest payable
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
7
Net income/(expenditure) before transfers
This is stated after charging:
Depreciation of owned fixed assets
8
Staff costs
Salaries and wages
Social security costs		 Unrestricted
£
1,783
-
1,803
4,721
46
147
3,490
4,225
16,215		 Restricted
£
14,402
-
-
-
14,402
Restricted
£
-
-
102,158
-
-
-
-
-
102,158
2025
£
147
2025
97,472
4,686
102,158		 Total
2025
£
14,402
-
-
-
14,402
Total
2025
£
1,783
-
103,961
4,721
46
147
3,490
4,225
118,373		 Total
2024
£
10,029
4,105
5,430
443
20,007
Total
2024
£
-
4
115,142
-
-
210
6,280
3,668
125,304
2024
£
210
2024
101,201
5,203
106,404

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

22

US Charitable Trust Notes to the Accounts

9 Tangible fixed assets

Cost or revaluation
At 1 April 2024
At 31 March 2025
Depreciation and
impairment
At 1 April 2024
Depreciation charge for the
year
At 31 March 2025
Net book values
At 31 March 2025
At 31 March 2024
10 Debtors
Trade debtors
11 Creditors:
amounts falling due within one year
Other taxes and social security
Accruals		 Land and
buildings
£
699
699
-
-
-
699
699
2025
£
-
-
2025
£
-
-
-		 Electrical
equipment
£
-
-
210
147
357
(357)
(210)		 Total
£
699
699
210
147
357
342
489
2024
£
5,250
5,250
2024
£
8,831
(1)
8,830

23

US Charitable Trust Notes to the Accounts

12 Movement in funds

Restricted funds:
Restricted income funds:
Main Grant - National Lottery
John Lyons Charity
St James Place
BBC
Other Restricted Funds
Total
Unrestricted funds:
General funds
Designated funds:
Monkey Puzzle
CAF
Other donations
Total
Total funds		 At 1 April
2024
(15,454)
-
-
-
-
(15,454)
86,650
-
-
-
-
71,196		 Incoming
resources
(including
other
gains/losses
)
£
33,422
96,800
10,000
17,944
15,341
173,507
0
13,000
26,332
2,503
41,835
215,342		 Resources
expended
£
(33,422)
(40,351)
(7,793)
(20,592)
(14,402)
(116,560)
(1,783)
(2,267)
(10,869)
(1,296)
(14,432)
(132,775)		 At 31
March
2025
£
(15,454)
56,449
2,207
(2,648)
939
41,493
84,867
10,733
15,463
1,207
27,403
153,763

Purposes and restrictions in relation to the funds: Restricted funds: Main Grant - National Lottery Development Manager John Lyons Charity St James Place BBC Other Restricted Funds Designated funds: Monkey Puzzle CAF Other donations

24

US Charitable Trust Notes to the Accounts

13 Analysis of net assets between funds

13 Analysis of net assets between funds
Fixed assets
Net current assets
14 Reconciliation of net debt
Cash and cash equivalents
Net debt		 Unrestricted
funds
£
342
148,317
148,659
At 1 April
2024
£		 Restricted
funds
£
-
5,104
5,104
Cash flows
£		 Total
£
342
153,421
153,763
At 31
March
2025
£
74,287 79,134 153,421
74,287
74,287		 79,134
79,134		 153,421
153,421

15 Related party disclosures Controlling party

25

US Charitable Trust Detailed Statement of Financial Activities

for the year ended 31 March 2025

Income and endowments from:
Donations and legacies
Main Grant - National Lottery
Other Donations
Charities Aid Foundation America
Total income and endowments
Expenditure on:
Charitable activities
Charity Activities
Contractors
Total of expenditure on charitable
activities
Other expenditure
Other interest payable
Employee costs
Salaries/wages
Employer's NIC
Staff training
Temporary staff
Motor and travel costs
Travel and subsistence
Premises costs
Other premises costs
General administrative costs,
including depreciation and
amortisation
Depreciation of Electrical
equipment
Bank charges
Equipment expensed		 Unrestricte
d funds
2025
£
41,835
0
-
41,835
41,835
-
-
-
-
-
-
1,783
-
1,783
0
0
902
901
1,803
4,721
4,721
46
46
147
536
150		 Restricted
funds
2025
£
-
173,507
-
173,507
173,507
14,402
-
-
-
14,402
14,402
-
-
-
97,472
4,686
-
-
102,158
-
-
-
-
-
-
-		 Total funds
2025
£
41,835
173,507
-
215,342
215,342
14,402
-
-
-
14,402
14,402
1,783
-
1,783
97,472
4,686
902
901
103,961
4,721
4,721
46
46
147
536
150		 Total funds
2024
£
32,750
97,031
77
129,858
129,858
10,029
4,105
5,430
443
20,007
20,007
-
4
4
101,201
5,203
526
8,212
115,142
-
-
-
-
210
2,367
458

26

US Charitable Trust Detailed Statement of Financial Activities

Equipment repairs and
maintenance
General insurances
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees
Accountancy and bookkeeping
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income/(expenditure)
Net income/(expenditure) before
other gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 -
529
1,588
445
100
-
142
3,637
1,250
2,975
-
4,225
16,215
16,215
-
25,620
25,620
-
25,620
86,650
112,270		 -
-
-
-
-
-
-
-
-
-
-
-
102,158
116,560
-
56,947
56,947
-
56,947
(15,454)
41,493		 -
529
1,588
445
100
-
142
3,637
1,250
2,975
-
4,225
118,373
132,775
-
82,567
82,567
-
82,567
71,196
153,763		 7
458
1,858
438
-
111
583
6,490
1,188
2,162
318
3,668
125,304
145,311
-
(15,453)
(15,453)
-
(15,453)
86,649
71,196

27