Registsred number: 08536549 Charlty number: 1153928 STAR TRUST (EAST MIDLANDS) LIMITED (A company Ilmlted by guaraniee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
STAR TRUST (EAST MIDLANDS) uMrrED (A eompany limited by guarantee) CONTEKrs Page Reference and •dmlnl•trallve datslls of the charity. 113 trustees and 2dvl8er9 Trusloos. roport Indopondenl 8xamlnel8 roport Slalomonl ol flnanclal actlvltles Balance sheot Not•s to tho tlnanclal statemonts 8-14
STAR TRUST {EAST MIDLANDS) LIMrrED {A company Ilmited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARtrY. trs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2ty20 Trustses L Cawdron S Hampson S Warren Company rnglstor number 08536549 Charlty reglstsred number 1153928 Registered offk8 Tower House Lucy Tower Street Lincoln LNI 1XW Comp•ny socretary S Hampson Aecountants Streets LLP Chartered Accountants Tower House Lucy Tower Street Lincoln LN1 IXW Page 1
STAR TRUST (EAST MIDLANDS> LIMITED (A Company Ilmlted by guarantee) TRUSTEES. REPORT FOA THE YEAR ENDED 31 OCTOBER 2020 The trustees present their annual r¢p)rt together with the financial statements of the charity lor Ihe year 1 November 2019 to 31 oober 2020. The trustees confirm Ihal the Annual Report and financial statements ol the company comply with the current statutory requirements, the requirements of the compaTrVs governing document and the provisions of tho Slalgmenl ot Recommgnded Practice ISORPI, applicable lo charities prèparing theii aecounts in accordance wth the Financial Rewrting Standard applicat48 in the UK and Republic of Ireland IFRS 1021 leffecbv8 1 January 20151 as am&nd8d by Update Bulletin 1 leffective 1 January 20151 arKI Update Bulletin 2 (effective January 20191. Since the charty qualilies as small under section 383, the stral8gi¢ report required ol medium and largg companies under The Companies Act 2006 IStrategK Report and Directorfs Report) Regulations 2013 is not required. Structure and govemance The Star Trust (Easl MKllaTKlsl Umited Is an incorporaled charty establish1 under the Articles of Association. The company is limited ty guarantee and has no share catal. The Iruslees during the year and al 31 Octobgr 2020 were.. L Cawdron S Hampson S Warren Trustees will be recwiled as and when requlred by the continulrKJ tnjslees by way of personal invitalron. The trustees are mlndful ol iheir duties in connection wlh the irKlUCtn and trainiro ot new trustees and woukj lollow the guidelines sgt down by the Charty Commission. New truslg9s wouky be relgrred to the Charity Commission website. They woukl be given copies of previous period's accounts prior lo Iheir attendance at a trustees. meoting and the found8rs would provide a bathground brigfing and be availablg to answer any questions. The trustees have the a'lIty to invest funds as s81 out in the Articl8s of Association. Oblectlves and actlvllles Star Trust (East Midlands) Lld i8 a ¢harfty based In the East Mkflands, run by local bu5in&ss owners and entrepreneurs, which support good causes across Iha region. Using our members, LsInesS &xpertise and commercial initiatNe. we hokl 8venls throughout the y8ar lo raise money for locally-run ¢harities that can often strugglg Io sgcur9 public donations. simply because they lack the profile ol national organisations. The trustees sh1 hold the capital and income of the trust fund urxjn ITust and makg donations as such charitable institution or institulions at such lime or limes and in such manners as lo achieve the charity obj8Ctives. The Irustees confirm that they have relerred to the guKlance corrtained in the Charity Commission's general Qusdance on public benefit when r8viewing the chaTty's aims and objectives and in planning future activities and setting thg grant making policy lor the pgriod. Grants policy The Iruslees have a gen9ral policy ol seeking to support local charities which benelti ihe Derbyshire, Nottinghamshire, Lgtcestafshiro, Lincolnshire arKI Rutland area so lar as possible amhough this is noi an exclusive policy. The trustees are prepared to consider national appeals if they feel thal these have real merit. However, generally the trustees would want to see a strong link to the local communities in the East Midlands. Page 2
STAR TRUST (EAST MIDLANDS) LIMrrED (A eompany limited by guarantee) TRUSTEES. REPORT (¢onllnuodl FOR THE YEAR ENDED 31 OCTOBER 2020 Finan¢l•l revlew and futur• *ctlvltle8 Income in the year amounted lo £102,256 and is almost entirety comprised of Ikets, pledges, rallle and auction prweeds from the lundraSslno events held durlrwj the year. Past and lulure events can be found on our websile. Income is recorded as restricted where events are hekl for a spe¢ifi¢ caus&. Detail$ of donations paid are in¢luded in the notes to the accounts. Tho donations were to causes that th8 InJstees lett were worthy of supporting and which fullilled the objecltves of the ¢harty. Income was exceeded by SOUrceS expended by £30.334. At 31 October 2020 Ihe net assets of the charty w&r8 £15,079. This year has been the most drt1ul1 experienced by the Charity since in¢eplion dye to lh9 Covid pandemic. Wa have been unatje to organise any new events due to the restrictions imwsed by the government and so have not gèn8ral8d any income lor the trading year other than the 2019 Ball which was held before the Covid pandemic. As an events based charity the paremIC has decimated our income stream but with very Itttle overhead we ar8 in a secure position to continue trading after restrictions are lrfled We took the decision as a committee lo reduce our reserves lo accommodate exists'ng charlty donations that had been agr8ed and assist those charities so desperate for funds in these urorecedenled times. As th8re was no future commitments planned lor events which this reserve is primarily lor wo lell was the correct course ol action. Tuatlon Slaf Twsl (Easl Midlands) Limited is a registered charity and as such is exempt from laxation on tts irrne and gains to the exlenl that they are appliwj to ils ChItabLe puryx)ses. Golng Concwn After making appropriatg gnquirigs, Ihe Iruslees havg a reasonab expectation that Ihe charity has adequat$ resources to continue in operational existence lor the foreseeable future. For this reason they rontinu? to a¢Jopt the going concern basis in preparing the financial statements The Trustees do not beliove the impact of COVID-19 wll materially allecl the going conc8m basis (fiscussed in the fi'nancial statements. bul are conslanlty monilorlng this with manag8ment ol the charity. Reserves pollcy The trustees are commitled to donating the net income of the charty over th8 modium term. The charity maintains sufficient rgsoNgs lo continue lo operate in the furtherance of ils charite obje¢tives. The tru$l¢¢s aim lo hokl reserves ol approximately £20,000 once nomial operations can resumè. Rlsk assgssment The trusl8es hav8 carried out an overall risk ass&ssmsnt to idonlity the risks associated wrth the operations of the charity arKI, where appropriate, have introduced controls and safeguards to minimise the ellacts of thos& risks. Paae 3
STAR TRUST (EAST MIDLANDS) LIMrrED (A company Ilmlted by guarantee) TRUSTEES. REPORT (ntInu8d) FOR THE YEAR ENDED 31 OCTOBER 2tr20 Trusleos. R•sponslbilities Statemfrnt The trustees Iwho are also directors of Star Trust (East Midlands) Limited lor the purposes ol company lawl are responsible lor preparing the trustees, report and the tinancial slal8ments in accordance with aN)licable law and Unrted Kingdom Accounting Standards Iunited Kingdom Gen8rally Accepted Accounting Practice). Company law requires thè tfustèes to prepare financial statements lor each financial year. Under company law Ihe trustees must not aFprove the financial statements unless they are salisfied that they give a true and lair view of the state ol affars ol the charitabl8 company and ol the irtoming resources 8n¢J application ol resourGes, including the inwm& and exwndilure, of th8 charitable company lor that period. In preparing these financial statements, the trustees are required lo.. select suitable accounting w11e$ and then apply Ihem consistently. observe the methods and principtes in the Charities SORP., make judgments and accounting estimates th* are reasonable and pwdenl,. prepare the linaneial slalemenls on the goiro concgm basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records thal are sufficient lo show and explain the char4table company's transactions and disclose vlth reasonable accuracy at any lime the linanci position ol the charstable company and enable them to ensure that the financial statements comply Mth the Companies Act 2006. They are also resFY)nsie for safeguarding the assets of the chW1tae company and hence taking reasonable steps for the prevention and detection ol fraud and other irregularllies. Small Company Provislons This report has been prepared in accordancg with thg provisions ap¢¢able to companie8 entitled to the small companies exemption. This report was appTov&J by the trustees on 13 July 2021 and signed on their behalf by.. S Hampson Trust80 Page 4
STAR TRUST (EAST MIDLANDS> LIMITEO {A company limited by guarantse> INDEPENOENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2020 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STAR TRUST (EAST MIDLANDS} LIMITED (tho'¢hartty'i I report to the charty trustees on my examination of the accounts of the charity lor the year 31 October 2020. This report is made solèly to thè Charity's Irustees, as a body, in accordance with Part 4 01 the Charities IAccounts and Reportsl Regulations 2008. My work has t¢on undertaken so Ihal I might state lo the chaiitys trustees those matters l am required to stale to them in an Independent examiner's rgport and for r¢0 olhel Frptsse. To the fullest extent permitted by law. I do not accept or assume responsibilty lo anyone other than the charity and the charitys trustees. as a body, lor my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the Irustees ol the charity land its dirgctors for the purposes of company lawl you are responsible lor lh8 preparation ol the accounts in accordan¢g WFth th9 rgquirements ol th& Companios Ad 2006 llhe 20 AcY}. Having satisti80 myself that th6 accounts of the charity are nol required lo be aLrted under Part 16 of the 2006 Act and are ellgible for Independent èxamination. I report in respect ol my examination ol the charitys accounts carried out under section 145 of the Chariligs Act 2011 Ilhe 2011 Ael'l- In CaThng out my examination I have lollowed tho Dire¢tions givon by th8 Charity Commission under sg¢lion 14515}Ib) of tho 2011 Act. INDEPENDENT EXAUINER'S STATEMENT I have completed my examination. I can conflm that no matters have come to my attention in connection with the examination giwng mg cause lo believe: accounting records were not kept in respect of the ¢harity as rgquired by section 386 01 the 2CL16 Act; or the ac¢ounts do not accord wilh those records; or the accounts do not comply with the accounting requiremenls of sol0n 396 01 the 2006 Act other than any requirement that the accounts give a 'true and fai¢ view which is not a matter considered as part of an independent examination- or the accounts have nol been prepared in accordance the methods and principles of the Statement of Recommended Practl¢g lor accounting and reporting by chariliès lappli¢ab19 to charities preparing Ih8ir accounts in accordance wilh tho Financial Repoiknng SlaThJard aF19 in the UK and Republic of Ireland (FRS 10211. I have no concerns and have come across no other matters in connedon with the examination to which attention should be drawn in lttis report in order to enable a proper underslanding ol the accounts to be reached. sned. Dated: 16 July 2021 Robert Anderson FCA Streets LLP Tower House Lucy Tower Slregt Lincoln LN1 IXW Page S
STAR TRUST (EAST MIDLANDS) UMITED (A company Ilmlted by guarantee) srATEMENT OF FINANCIAL ACTivmES INCORPORATING INCOME AND EXPENDrruRE Accouwr FOR THE YEAR ENDED 31 OCTOBER 2020 Unr0Strfcted lunds 2020 Total fund$ Total funds 2019 Noto INCOME FROM: Other trading activities.. Fundraising 102.256 11r2.256 184,138 TOTAL INCOME 102,256 102,256 184. 138 EXPENDrruRE ON: Raising funds Charitable activities 42,664 89.926 42,664 69,445 95,873 TOTAL EXPENDITURE 132,590 132,590 165,318 NET INCOME I {EXPENDITURE} BEFORE OTHER RECOGNISED GAINS AND LOSSES NET MOVEMEKT IN FUNDS (30,334) (30,334) (30,334) (30,334) 18,820 18,820 RECONCILIATION OF FUNDS: Total funds broughi fonvard 45,413 45,413 26.593 TOTAL FUNDS CARMeD FORWARD 15,079 15,079 45,413 The notss on pag9s 8 10 14 form part of th9$9 tinancial statem9nls. Page 6
STAR TRUST (EAST MIDLANDS) LIMrrED (A company limited by guaratttso} REGISTERED NUMBER.. 08536549 BALANCE SHE AS AT 31 OCTOBER 2020 2020 2019 Nota CURRENT ASSETS Debtors Cash at bank and in hand 50, 703 46.416 11100 17,196 97,119 CREDITORS: amounts falling due within one year (2,11TI {51,706) NET CURRENT ASSETS 15,079 45,413 NET ASSETS 15,079 45,413 CHARITY FUNDS Unrestricted funds 10 15,079 45,413 TOTAL FUNDS 15,079 45,413 The charitys financial statements have beon prepared in accordan¢e wilh the provisions applicable lo companies subject to th8 small companies regime. The trustees consider Ihat the charity Is enli118d to exemption from the r8quiremenl to hav9 an audit und8r the provisions of section 477 of the Companies A¢1 2006 Ilhe A¢n and member5 have not required the charity lo obtain an audit tor the year in question in accordance with sgclion 476 01 the Act. The trustees acknowledge their resFonsibilities lor complyng with the requirements ol the Companies Act 2006 wrth respect to accounting rordS and the preparation ol financial statements. The financial statements were approved and authorised for issue by the trustees on 13 July 2021 signed on their behalt. by= and S Hampson Trustee The notes on pages 8 to 14 form part ol Ihese financial statements. Page 7
STAR TAUST (EAST MIDLANDS) UMITED (A company IlmSted by guarnntee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020 ACCOUNTING POLICIES 1.1 8asls of preparntion of firbanclal Ststomonts The financial statements have been prepared in accordanee wrth Accounting and Rewrting by Gharities.. Statement of Recommered Practice applicable lo charities pioparing their accounts in accordance wtth the Financial Reporting Standard appIable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2015} - (Chartses SORP IFRS 102)), the Financial Reporting Standard aF)plicable in the UK and Rewbli¢ ol Ireland IFRS 1021 and the Companies Act 2006. Star Trust IEasl mlandS) Limited meets the dofinition ot a wblic bgnefil entrty urKlgr FRS 102. Assets and liabilities are initially recognised at historic cost or transaction value unless Othwwse stated in the relevant accounting policy. 12 Company Status The charity is a company limtted by guarante8. The members of the company are the Iruslees named on pagg 1. In the event ol th8 charity bèing wound up, tho liability in respeci ol thg guarantee is limited lo £10 per member of the charity. 1.3 Income All income is r8¢ognised once the chathy has entitsmenl lo the incom&. tt Is Probable that the income will be received atKI Ihe amount of in¢ome receivable ¢an be measured relity. othor incorrse is recognised in th8 period in vthich it is re¢eivabb and io the oxtent the goods have been provided or on completion ol the service. 1.4 ExndItUre EXpelItl1re is recognised once th8r8 15 a legal or construclive obligation to transfer economic benefit lo a third paty, il is probable that a transfer ol economic b8nelits will be required in settlement and the amount of the obligatson can be measured rgliably. Expendituro is classified by aclivily. Costs of raising funds are thè direct costs incurted in puttiry on the lundraisirKJ events put the charity. on by Charitable activities and Governance costs are cosls incurred on the tharitys operations. including support costs and costs relating to thg gov9mancé of the charity apwrtffigd 10 charitabl8 activitiès. Grants payab are charged in the year when the offer is made except in those cases where the oller is conditional, such grants being recognised as exponditure when the nditionS attaching are lulfilled. Grants offered subjecl lo condf(ions which have not been met at the year end are noted as a commitment, bul not accrued as expenditur¢. 1.5 Doblors Oth8r dgbtors ar9 roeognisod at tho sethemenl amount after any discount ollered. Prepayments ai8 valued at the amount prepaid. Page 8
STAR TRUST (EAST MIDLANDS) LIMrrED (A company Ilmltsd by guarantee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 OCTOBER 21)20 ACCOUNTING POUCIES l¢ontlnued) 1.6 Cash at Bank Cash at bank rgpresenls cash held In current account lacilitles. 1.7 Llabllltlo$ Liabilities are recognised when there is an 0all0 at the Balanc8 sheel date as a result of a past evenL il is probable that a transfer ol economic benefit will be Tequired in settlemenl, and the amount ot the settlement can be estimaled reliably. abIlitIeS are r8¢ognised at the amount that the ¢harty anticipates it will pay lo settle the debt or Ihe amount it has received as aancl pay)nents for the goods or seNices it must provide. 1.8 FlnaTh¢l¥l Inslruments The charity only has linancial assets and financial liabilities Ot a kind that qualify as basic financial inslrumenls. Basic financid instruments are initlally recognised al Iransactlon value and subsequently measured at th¢ir settlemènt vdue. 1.9 Fund aeeounting Gen8ral funds are unr8stri¢ied funds which arg available for use al the discretion of the trustees in lurtheranee ol the general objectwes ol the charity and which hav& not been designated for other purposes. FUNDRAISING INCOME Unrostricted fvnds 2020 Total funds 2020 Total funds 2019 Fundraising events 102,256 102,256 184, 138 Tot812019 184, 138 184. 138 Page 9
STAR TRUST (EAST MIDLANDS) LIMrrED {A Company Ilmltod by guarantse) NOTES TO THE FINANCIAL STATEMETrtrs FOR THE YEAR ENOED 31 OCTOBER 2020 ANALYSIS OF EXPENDITURE 8Y EXPENDrruRE TYPE Other ¢ost8 Total 2020 Total 2015 Exp8ndilur8 on raisir¥J voluntary income Cost8 Ot ralslng lunds 4l664 69,445 Charitable activilies 89.926 95,873 132,590 13IS90 765.318 Total 2019 165,318 165,318 COSTS OF RAISING FUNDS Unrestrlcted fund8 2020 T¢>tsl funds 2020 Tofai lunds 2019 Fundraising costs incurred 42,664 69.445 rotal 2019 69,445 69,445 Page 10
STAR TRUST IEAST IAIDLANDS) UMrrED {A cornpany Ilmlted by guararrtee) NOTES TO TrIE FINANCIAL STATEMEifrs FOR THE YEAR ENDED 31 OCTOBER 2020 ANALYSIS OF GRANTS Grants to Instltutlons 2020 Total 2020 Total 2019 Grants 79,148 79,148 93,537 Tota12019 93,537 93,537 2020 Notts CYP Donation PASIC Donation Cerebral Palsy Sport Donation Sam While Legacy Donation Worhere Donation Framework Housing Donation The Zinc Project Bodie 14odges Foundation Safe and Sound Menphys 10859 10,000 5,949 5,000 6,000 3.100 400 8,560 Total 79,148 SUPPORT COSTS Tot•1 2020 Total 2019 Accounlan¢y Advertising Sundry Bank eharges Bad debt write off 720 97 307 712 2.318 7,224 10.778 2,&36 Total 2019 2.336 Page11
STAR TRUST {EAST MIDLANDS) UMrrED (A eompany limited by guarantoe) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 OCT08ER 2 NEf INCOMEI{EXPENDrruRE) This Is stated aftèr charging: 2019 Independent examinaliin costs During the year, no Iru$le&s recewed any remuneration12019- £NILI. During the ar, no trustees received any benelils in kind12019- £NILI. During the year, no trustees received any reimbursom8nt ol expenses (2019- £NILI. DEBTORS 2019 Other debtors Prepayments and accrued income 5,000 96 39.514 11,189 50, 703 CREDrroRS: Amount$ falling due wlthln ong year 2019 Trade Creditors AccruaL% and deferred income 269 4,490 47.216 2,117 51, 706 Deleffed income of £46,486 in 2019 relat to the Star Trust Annual Ball 2019. which was hekl just after the year gnd in November 2019. Qelerred Inc9 al the 2020 year end was £nil. Pago 12
STAR TRUST (EAST MIDLANDS) LIMED (A ¢ompany Ilmlted by guarnntso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2WJ 10. STATEmETr OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 1 November 2019 Balance at 31 oober 2020 Incomo Experrflllure Unr•*ri¢1od funds General Funds 45,413 102,256 {132} 15,079 Restricted funds are where fundraising events are held ft)r a specific named ¢ause. STATEMEKT OF FUNDS- PRIOR YEAII Balance al l November 2018 Balance al 31 October 2019 General Funds 26,593 184,138 (165,318) 45.413 Tolal ot furKIs 26,593 Y84,138 (165,318) 45.413 SUMMARY OF FUNDS- CUAREwf YEAR BA19n at 1 November 2019 8olan¢g 01 31 Octob&r 2020 Income Expendlturè General funds 45,413 11Y2,256 {132.590) 15,079 SUMMARY OF FUNDS- PRIOR YEAR Ba18nce al l Novembei 2018 Balance al 31 October 2019 Incom8 Expendllure General lund$ 26,593 184, 138 1165,318J 45,413 Page 13
STAR TRUST (EAST MIDLANDS> UMITED (A Company Ilmlled by guaranteè NOTES TO THE FINANCIAL STATEMENTS FOR THÉ YEAR ENDED 31 OCTOBER 2020 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NEf ASSETS BEfwEEN FUNDS- CURREKT YEAR Unrestrictgd lund$ Total lund8 Cuffent assets Creditors due within one year 17,196 12.117) 17,196 {2,117) 15.079 15.079 ANALYSIS OF NEf ASSEfs BETWEEN FUNDS- PRIOR YEAR Unrestricteo lunds 2019 Tot81 fvnds 2019 Gurr8nt assets Gredilots due within one year 97.119 151.706) 97,179 151,706) 45.413 45,413 12. RELATEO PARTY TRANSACTIONS During the year purchases of £2.853 12019 - £7,162) were mad8 from Creative Minds, a business connected to S Warren. The balance outstanding on thes8 purchases at the year end was-£358 {2019 - £4.4761. The Irusteos ensure that all wrchases are al market value or discounted. Pagè 14