Registered number: 08536549 Charlty number.. 1153928 STAR TRUST (EAST MIDLANDS) LIMITED (A company Ilmited by guaranlee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
STAR TRUST IEAST MIDLANDS) UMrrED (A company Ilmlled by guarantse) Page Roforenco and adrnlnlstrntlv• delalls ol tho charlty, Its truste and advls8rs Tru¥ieo8' rert Independont examlnw's rnport ststement of flTranclal actlvltl•s Balinc8 sheet Not•8 to tho ttnan¢lal stal•mont8 8-14
STAR TRUST IEAST MIDLANDS) LIMifED (A company Ilmited by guarantee} REFERENCE AND ADMINISTRATIVE DAlLs OF THE CHARITY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 221 Trustegs L Cawdron S Hampson S Warren Company reg5steTed number 08&36549 Charity reglstered number 1153928 Registered offlce Tower House Lucy Tower Street ncoln LN1 IXW Company secretary S Hampson Accountants Streets LLP Chartered Accountants Tower House Lucy Tower Streel "ncoln LN1 1XW Page 1
STAR TRUST (EAST MIDLANDS) uE0 {A company limlted by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 OCTOBER 2021 Th8 Iruslees PTesenl their annual r8POrt looelher with the financial stalemenls ol the charity lor the year 1 November 2020 to 31 October 2021. The trustees conlimi that the Annuaj Rewrt and financial slalemenls of the company comply with the current slalulory feqimremenls. the rèquirements ol the company's gov8Tning document and the provIsn$ of the Slalement ol ReCoMmeIed Practice ISORPI, 8pplicablg lo charities preparing their accounts in accordanc8 with the Financial Reporting Standard applicable in the UK and Rapublic ol Ireland IFRS 1021 leff9cliv8 1 January 20151 as amended ty Update 8ull8tin 1 leff&¢live l January 20151 and Updaie Bulletin 2 leffective January 20191. Since thè Chartty qualifies as smèll undèr seclion 383. tha Strat89 report r8quir8¢J ol mgdSum and large companies under The Companiès Act 2006 Istralegk R¢port and Direclorfs Report) Rggulations 2013 is not rgquired. Structure #nd govèmanc• The Siar Trust (East Midlands) Llmiled is an irqrated charity esiablishthj uThJer thg Arttdos ol Association. The ¢ompany Is limited by guaianlee and has Share capital. The Irusitres during Ihe year aNI ai 31 Cttobgr 2021 were: L Cawdron S Hampson S Warren Trusl¢os wlll Tecrurted as and when required by thg conllnulng Iruslee8 by way ol personal invitallon. The Iruslees mindful ol Ihelr duties in conneclion with thg indu¢tion and training ol new Iruslees and would follow th& guidelin•s sel down by the Charty Commi$sion. New Iruslees would b8 referr lo the Charity Commission websit&. They woukl be given ¢opies ol previous Fer.$ accounts prior to their attendance at a truslges, maeling and the founders would provid9 a backgrourKI bri&ling and availablg lo answer any queslons. Th8 truslaes have the 8t41ty10 invest furth as set out in the Articl8s of Association. Obl6etlv•s and actlvltl8s star Trust IEasl Midlands) Ltd is a charity basad in the East MKllaNts, Nn by Iceal businoss ownfrrs and entrepreneurs, whth support gcth causes acTOSS the region. Usiry our memters, business oxpertise and eommercial inilialive. we hokl events throughoul th& year lo raise money for locally-iun ¢haritiès that can 0ft9n sINgglg lo securo publlc donalbns. $imply tecause Ihey lack the profile ol nalionaF organisalions. The tTU$t&9s shall hold the capilal and Iorne ol the trust lurKI upon trust and make donallons a$ such chariiablg institution inslilution$ al such lime or times aThJ In Such manners as lo achieve the charlly objectiv&s. Thg Irustègs confirm that they have referred to thg guance contaiwl In Ihe Charity Commission's general guidance on public benefit when r8viewng the Charity's &m5 and ol'eclives and in planning lulure activities and setting the grant making FKJIW lor the period. Grantg pollcy Tha trustees have a general polw ol seekirKJ to suwK)rt k1 charities which benefit the Derbyshire. Nottinghamshire, leestarShIrt. nColnShIre arKJ Rutland area so lar as possible although this is not an oxclusive policy. The trustees are prgpared to ¢x)rssitler naitonal appeals if th8y leel that these have real merit. However, generally the tTuslg8s would want lo se8 a strong link lo the local communilies in the East Midlands. Page 2
STAR TRUST (EAST MIDLANDS) MED IA company limfted by guarantee) TRUSTEES. REPORT {continuedl FOR THE YEAR ENDED 31 OCTOBER 2021 Financial revÉew and luture activities Income in the year amounted lo £39,562 and is alrnosl entirety comprised ol tickets. pledges. raffle and auction proceeds from the fundraising events hejd during the year. Past and lulure eveRts can be lound on our website. Irthme is recorded as resliicted whgre events are held lor a spectiic cause. Details ol donations paid are included in the notes to the accounts. The donations were to causes that the trustees felt were worthy of supporting and whh fvllilled the objectNes of the charty. Income exceeded resources expended by £1,210. At 31 October 2021 the net assets ol the charity were £16,289. This year has been again one of tt)e most drfficutt expertenced by the charity due lo the continued impact ot the Covid pandemic and its effect on events which we generate 1 our donations from. We have only been able lo organise one event in late 2021 which was an outdoor motorirg day so donations have been limited and way below our usual levels. As an events based chaitty the pandemic has decimated our Income slrgam but with very little overhead we have b&en in a secure wsttion to continue trading after the restrictions were lifted. We took the decision as a committee to reduce our Teserves lo accommodate èxisting charity donations and allocate all monies Irom the Motoring day to assist those charities so desperate lor funds these unprecedented bmes. We are looking forward lo a planned calendar of events in late 2022 and getbr¥J our ftjnding pol back lo normal levèls. Taxation Star Trust (Easl Midlands) Limited is a registered charity and as such is exempl from taxation on ils income and gains to the extent that they ate applied to tts char41able PUTP)ses. GoTng Con¢ern After making appropriate enquiries, the Iruslees have a reasonab expectation that the charity has adequate rèsources to continue in 0ratiOnal exist8n¢e for the foreseeab futu. For this reason they coniinutr to adopi the going con¢em basis in preparing the financi stslements The Trustees do not believe the impact ol Cov119 11 materially affect the going concem basis discussed in the financial statements, bul are constantly monttoring this with management of the charity. Reserves pollcy The trustees are committed to donating the net income of the Charity over the mèdium term. The charity maintains sufficient reseNes to continue to operate in the frtherare of tfs chafilthe objectives. The tNstees aim lo hold reservas ol approximately £20.000 once nom)al operations can resume. Risk assessment The Iruslees have cwried out an ovèrall risk assessment lo identify the risks associaied w*th the operations of the charity and, where appropriate. have introduced controls and safeguards lo minimise the effects ol those risks. Page 3
STAR TRUST (EAST UIDLANDSI LIMrrED (A Company limlted by guarantsel TRUSTEES. REPORT (conlinuedl FOR THE YEAR ENDED 31 OCTOBER 2(r21 Trustees, ResFwi8lbllities Statem6nt Thg trustees Iwho are also directors ol Star Trust (Easl Midlandsl Limited lor the purposes ol company lawl are responsible lor preparing the trustees. report and the lina1 statements in accordance with applicable law and Untte(S Kingdom Accounting staards Iuniled Kingdom Generlly Accepted Accounts'ng Practi¢g1. Company law rgquires Ihg Irus1$ to prepare financial statements foi each finar181 ygar. Under company law the Iruslees musl not approv8 the financial slalemenls unless they are satisfied that they give a Irue and lair vi8W of the slate ol affairs of the charitable company arKI of Ihe ineomino resources and application ol resources, including the income and expgndilure, of the charitabje company lor that period. In preparing these linanclal siaigments, the Iruslees are required lo.. sèlect suitablè aecounling policies and then apply th8m consistently- ob88Ne tha methods and principles in the Char6tl8s SORP-. rnak8 judomenls and ac¢ounting &sb"mates that are r8asonablè and prudent- prepare the linancial sraiemenls on the going concem basis unbss il is Inappropriat8 lo presum8 that the charitablè company ¥vill conllnue in oper8ts0n. The Iru$i¢es are responsible for keeping adgquale ntIng ordS that are sufflciert to show and explaSn the chaTilable companys Iransaetlons and disclos8 wiilh r8asonabl6 accuracy ai any Ilme the linancial position ol the eharilable company and enable them lo ensure thal th8 finla1 staiemenls comply with the Gompanies Act 2006. They are also responsibl8 lor saleguarding Ihe assets ol th8 charitable company and h8nce lor taking r8a$onable steps lor the prev•nlion and delectlon ol fraud and Olher Irrègulanbes. Small Company Provl8lons This report has bèen prepared in accordance wllh thtr provislon$ applicable lo companies enllllod to the Small companios exemption. This report was approvgd by tho trust on 24106122 sv4ned on Ihelr behalf by.. S Hamp$on Tru¥tg9 Page 4
STAR TRUST (EA8T MIDLANDS} UMrrED {A company Ilmitad by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2021 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STAR TRUST IEAST MIDLANDS} UMITED {the'charlty I report to the ¢harily trustegs on my •xamination ot the a¢¢ounts ol Ihe charity IOT the y•ar ended 31 October 2021. This rep)rt is made solèly lo the charivs trustees, as a t&Kly, in accordance with Part 4 01 the Charities IAccounls and Reports) Regulations 2008. My work has bgen undertaken so thal I might slal8 to the charitls truslges thosè rnatters l am requirèd lo slatè lo them in an Independent examiner's report and lor no other purpose. To Ihg lullesl èxtent p8m)itted by law. I do not accept or assume 188ponsibility lo anyone olh9r than the charity and Ihg charitls Iruslees. as a bc*Jy. lor my work or lor thts rgport. RESPONSIBILFfiES AND BASIS OF REPORT As the Irust¢os ol the eharty land ils directors lor the wrp)ses ol ¢ompany lawl you arè ¥esponst•l8 lor tho proparalion ol th8 accounts in accordan¢g thè r8quiremtnts ol the Cornpani8s Aot 2006 Ilhe 2006 Acl'l. Having satisfied myself that the accounts of the charity aro not rtsquired to bè audited under Part 16 of the 2006 Act and are eligible lor Irependent èxaminallon. I rèport in resFecl ol my examination ol tha ¢haritys accounts carried out undèr section 145 01 the Charities Acl 2011 llhe 2011 Acl'l. In ¢arrying out my exarninallon I have followed the Dirgclions given by the Charity Commission under section 14515}Ib) ol the 2011 Act. INDEPENDENT EXAMINER'S STATEklEifr I have complgled my èxamination. I can confimj that no matters havo come lo my attention in connection with thè gxamlnation gNing ma causo lo believe: ac¢ountlng records were not kept in respect of the charity as required by section 386 01 the 2006 Act.. or the a¢Gounts do not accord with those reeords: or th• accounts do fiot comply wtlh the accounliro requirements ol section 396 01 the 2006 Act olhor than any requirement that the accounts give a 'true and lairf wew whiGh is Mt a matter considered as part ol an indepenU8ni examlnaiion- or the accounts have not b8en prepared in aceoTdaTrce wth the methods and principles of the Stalemenl of Reeommended Practico lor accounting and reporting by eharilies18pplicablg lo chariligs pieparing Ihelr accounts in accordance th the Firwicial Rewrbng Standard applicable in th8 UK and Rgpublic ol Ireland IFRS 10211. I have no concerns and have come across no oth8r matt8rs in connection with Ihe examination lo which attenlion should be dravm in this report in order lo enable a proper understan¢Jng ol the a(£ounts to be reached. Sign8d'. Dated.. 29106122 Robert Anderson FCA Streets LLP Tower House Lucy Tower Street Lincoln LN1 IXW Page 5
STAR TRUST (EAST MIDLANDS) UMITED IA company Ilmlted ty guarnntee) STATEMEKf OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND £XPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2W21 Vnrostrlcted funds 2021 Total lund* Total lunds 2020 Nc+to INCOME FROM.. Other trading activthes.. Fundraising 39,562 39.562 102.256 TOTAL INCOME 39,562 39,562 102.256 EXPENDITURE ON: Raising funds Charitable activ[tS 5.214 33,138 5,214 33.138 42,664 89.926 TOTAL EXPENDITURE 38,352 38.352 132.590 NET INCOME I (EXPENDfwREI BEFORE OTHER RECOGNISED GAINS AND LOSSES NET MOVEMENT IN FUNDS 1210 1,210 1,210 1.210 130.334J 130,334J RECONCIUAnoN OF FUNDS: Total ILtnd$ brought lOard 15,079 15,079 45,413 TOTAL FUNDS CARRIED FOAWARD 11289 16,289 15,079 Th& not8$ on pages 8 10 14 form part ol these financ4aJ slatements. Page 6
STAR TRLIST (EAST AIIDLANDS) UMITED {A company limiled by guarantèe) REGISTERED NUMBER: 08536549 BALANCE SHEET AS AT 31 OCTOBER 2021 2020 Note CURREMf ASSETS Debtors Cash al bank and in hand 5,096 12. 100 17,100 18.053 17, 796 CREDffORS: amounts falling due vmhin one year {1,764) (2,117) NET CURRENT ASSETS 16,289 75,079 NET ASSETS 1Q289 15.079 CHARrrY FUNDS Unreslricled lund5 10 16,289 15,079 TOTAL FUNDS 16,289 15,Q79 The charitys financial statements have been prepared in accordance with the promsions applicable to companigs subject lo the small companies regime. The Iruslees consKJer that ihe charity is entrtE8d lo exemption Irom the requirement lo have an audit under the provisions ol section 477 01 the Companies Act 20061-the Acl-l and mernbers have not required the charity lo obtain an audit for the year in question in accordance wtth sectson 476 01 the Act. The trustees acknowledge their responsibiltEies lor cximplyng with the requirements ol the Companigs Act 2006 th respect to accounting records and the prepardtion of financial statemerns. The linancia slalements wer8 signed on their behalf, by= roved aLthorised for issue by the tnjstegs on 24106122 S Hampson Truslee Th8 notes on pages 8 10 14 foTm part ol these linanciaj statèments. Page 7
STAR TRUST (EAST UIDLANDSI UMfTED {A MpanY Ilmltod by guorantsel NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 ACcOU1ING poLlEs 1.1 Basls ol prepar•tlon of fln•n¢lal stat•monts The financial statements have been prepared in accordance whth AOunting and Reporting by Chariligs.. Statem8nl ol Recommernled Practice applicthg to charibes preparing Ihelr accounts in accordanco ¥th th8 Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffrfiiv8 1 January 20151 Icharities SOFIP IFRS 10211, the Fir>ancial Rgporting Standard applicable in the UK and Rèpublic ol Ireland IFRS 1021 ar th8 Companies A¢t 2006. SlaT Trust (Easi Midlands) Limiled m8¢ts the detinitron ol a pUtC b&nelil entity under FRS 102. Assets and liabilities arg initialty reniSed al hisloricd cost or transaction value unless olhèrwse stated in the rel8vanl accountirMJ polw. 1.2 Compiny status The charity is a company limited by guarant89. The mombgrs of th8 company are the Iruslegs named on page 1. In the ev•nt of the charty being wound up, th8 liability in r88pecl ol the guaranlge is limitèd lo £10 per mgmber ol the ¢haftty. 1.3 In¢omo All income Is fawnisgd once thg ¢harMy has entthment to the incomg, il Is probablo that th8 income wll ba received and Ihe amount ol income receivat48 can be measured reliably. Othgr income is rowjnised in the peth in it is recgivable and to th9 gxtent tho goods havè been provided or on complelk)n of the 88Nke. 1A Expondlture Expenditure is rwnised once th•r8 is a legal or conslru¢tiv& oblfvaalion 10 transfer economic bonelil lo a third paty, il i8 probable that a transfer ol gconomic bgnelils wll be rgqulred in settlement and thè amount ol the obljgalion can be moasured roliably. Expendilurg Is classiligd by acifviiy. Costs ol raising funds are the direcl costs incurr9d in Wllirq on the fundraising events pul on by the ¢harity. Charitable activiligs and Governance cosis are costs incurr9d on the charitys operations. including support costs and costs rolaling lo the gov8rnance of Ihe charty apportioned to charitable activities. Grants payable are charged in the year when tho ofler is made except in those cases where the oller is Conditional. such grants being recognised as expandilure when tho conditions attachin9 are lullillèd. Grants offered subject to coNlitions which have not been met at the year end arg Th)t$d as a Commltment. but not accrued as exp&ndilure. 1.5 Debtors Othèr debtors a¥& recognised at the $etUèment amount after any dtscounl offor. Prepayments are valued at the amounl wepaid. Page e
STAR TRUST IEAST MIDLANDS) UMrrED (A company Ilmlt8d by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 ACCOUNTING POLICIES (continu•d) 1.6 Cash at Bank Cash at bank represents cash in cuffenl accounl facilTties. 1.7 Llabllltle8 Liknilhl8s are recogniw when there 1$ an ¢)bligalion at the Bala8 shgel date as a rgsull ol a past event, it is probable that a Iransler ol econom benefit will b& required in settlement, and the amount ol the selliemenl can be estimated reliably. Liabilities are rgcognised ai the arnounl that the charity anli¢ipalos il will pay to settle ihe d&bl or Ihe amount il has received as advanced payments lor lh* good3 or soryic88 tt m¥J8t provide. 1.8 Flnanclal In8twmonts The charity only has linan¢ial assets and linancSal liabililies ol a kind Ihal qualtty as basic linanclal inslrum&nts. Basic flnanual instwments arg InallY rgcognis&d ai Iransactlon value and subsequeniiy measured al Iheir Settment value. 1.9 Fund accountlng General funds are unrestricted fuThJs which ar$ available lor use al the discretion ol the Irustoes in lurtheranc8 of general objgclNes of th6 charity and which have not b6en deslgnaied lor other purposes. FUNDRAJSING INCOME UnrtrIcted lund¥ 2021 Total lund$ 2021 Total lunds 2020 Fundralsing events 39,562 39,562 102,256 Tota12020 102,256 102.256 Page 9
STAR TRUST (EAST MIDLANDS) UMrrED IA company Ilmlted by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBEA 2021 ANALYSIS OF EXPENDITURE BY EXpENDuRE TYPE Othor costs 2021 Tot81 2021 Total 2020 Expenditure on raising volunlary income 5,214 5,214 42.664 Co8t8 of ralslng lund$ 5.214 5.214 42,664 Chaiitable aCtlieS 33,138 33.138 89,926 38,352 352 132,590 Total 2020 132,590 132,590 COSTS OF RAISING FUNDS Unr•strld fund$ 2021 Totsi fund# 2021 Total funds 2020 Fundralslng cos18 incurred 5,214 5.214 42,664 Tota12020 42,664 42,664 Page 10
srAR TRUST IEAST MIDLANDS) uED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 ANALYSIS OF GRApirs Grants to Instltutlons Total 2021 rotai 2020 Grants 21926 79, 148 Total 2020 79, 148 79,148 2021 Brightèr Futurgs Donation Money Matters Donation Foolprinls Donation Jon Egging Trusi Donalron Le9519r Childrens Holiday DonaJon 10,000 3,000 2,676 5.000 2,250 Total 22,926 SUPPORT COSTS Total 2021 Total 2020 Accountancy Other ¢osts Bank charges Bad debt write off 650 2,318 588 7,224 5,000 10,212 10, 778 Tot812020 10,778 Page11
STAR TRUST (EAST MIDLANDS) U•AITED (A wmpany Ilmlted by guarnntee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 OCTOBER 2021 NET INCOMEIIEXPENDrruRE) Thls is siaied after charging= 2021 2020 Indep8ndent examinalton costs During the ygw. no Iruslees r8cewed any rèmuneralion12020 - £NILI. During the yèar, no trustègs received any berrtS In kirKI12020- £NILI. During the year, no trLL8tees reGgNe(l any reimbursemonl ol èxpensos12020 - £NILI. DEBTOAS 2021 2020 Other debtors PftrpayTn8nts and accrued income 96 953 5.096 CREDITORS: Amounts falllng du• wlthln on• yur 2021 2020 Trade creditors Accruals and deterred Incom8 269 1,848 1.650 1,764 2.11? Deferred Incomo at Ihe 2021 year end was £nil12020- £nMI. Page 12
STAR TRUST (EAST IIIDLANDS} UMITED (A eompany Ilmhed by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 OCTOBER 2021 10. STATEIAEiif OF FUNDS STATEMENT OF FUNDS- CURREprf YEAR B•l•n¢e at 1 November Balance at 31 Octobgr 2021 Income Expèndlturo Unr•¥lri¢ted fund$ General Funds 15,079 39A62 36,3521 16,289 R881rlcted funds are where luThJrassing events arg hold lor a sp9cilic named cause. STATEMENT OF FUNDS- PRIOR YEAR Balance ai l November 2019 Balance ai 31 Octobfji 2020 lrn EXnlure General Funds 45.413 102,256 (132.590) 15,079 Total ol funds 45,413 102.256 {132,$90J 15,079 SUMMARY OF FUNDS- CURRENT YEAFI 8alane• •t 1 Novombor 2020 Balance at 31 Octobgr 2021 In¢om• Expondltur• General funds 15,079 39.562 (38.352> 16,289 SUMMARY OF FUNDS- PRK)R YEAR Balar al 1 Novernbei 2019 Balance 81 31 October 2020 IrKome ExpllUre General funds 45.413 102.256 (132.590) 15,079 Page la
STAR TRUST IEAST MIDLANDS) UMITED {A company Ilmlled by guarantw) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 11. ANALYSIS OF NET ASSEfs BETWEEN FUNDS ANALYSIS OF NEf ASSETS BETWEEN FUNDS- CURREKf YEAR Unrestrl¢ted funds 2021 Total funds 2021 Current assets Creditors duo within one year 18,053 11,7641 18.053 11.7641 16.289 16,289 ANALYSIS OF NET ASSETS BEEEN FUNDS- PRIOR YEAR Unrestrictea funds 2020 Tolai funds 2020 Current assets Creditors due within one year 17,196 12,117) 17.196 (2,117J 15.079 15,079 12. RELATED PAFrrY TRANSACTIONS During the year purchasès of £1,316 12020 - £2.8531 were made from Creative Minds, a business Lx)nnected lo S Warrèn. The balance outstanding on these transactions at the year end was a debtor ol £35812020 - debtor of £3581. The ITuslees ensure that ail purchases are al market value or discounted. Page 14