IMP
REP
202
INSPIRING CHANGE,
CHANGING FUTURES
The Us
Charitable
Trust
TABLE OF
CONTENTS
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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:
- examine the accounts under s.145 of the 2011 Act;
- to follow procedures laid down in the general Directions given by the Charity Commission under s.145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention.
## 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:
- to keep accounting records in accordance with section 386 of the Companies Act
- 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
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**
- 1 **Accounting policies**
## **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**
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
- Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## **Income**
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
- Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
- 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 revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
18
**US Charitable Trust Notes to the Accounts**
## **Expenditure**
- Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
- Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
- 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.
- Other expenditure These are support costs not allocated to a particular activity.
## **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