Registered number: 08536549 Charity number: 1153928 STAR TRUST (EAST MIDLANDS) LIMITED {A company limited by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
STAR TRUST (EAST MIDLANDS) LIMITED IA company Ilmlted by guarantee) CONTENTS Page Reference and adminlstratlve detalls of the charity, its Irustees and advisers Trustees. report Independent examlner's report Statement of financial activities Balance sheet Notes to the financial statements 8-14
STAR TRUST {EAST MIDLANDS) LIMITED {A company Ilmlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2022 Trustees L Cawdron S Hampson S Warren Company reglstered number 08536549 Charity registere(I number 1153928 Registered offl¢e Tower House Lucy Tower Street Lincoln LN1 1XW Company secretary S Hampson A¢¢ounlanl$ Sireels LLP Chartered Accounlanls Tower House Lucy Tower Street Lincoln LN1 1XW Page 1
STAR TRUST (EAST MIDLANDS) LIMITED IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 OCTOBER 2022 The trustees present their annual report together with the financial slalemenls ol the charity for the year 1 November 202110 31 October 2022. The Iruslees confirm Ihal the Annual Fleport and financial statements ol the company comply with the current slatulory requirements, the requirements ol the company's governing document and the provisions ol the Siaiemenl ol Recommended Practice ISORPI, applicable io eharilios preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 lelleclive 1 January 20151 as amended by Update Bulletin 1 lelleclive 1 January 20151 and Update Bulletin 2 leffective January 20191. Since the charity qualifies as small under section 383, the strategic report required of mediurn and large companies under The Companies Act 2006 Islralegic Fleport and Director's Report) Regulations 2013 is not required. Structure and governance The Star Trust (Easl Midlands) Limited is an incorporated charity established under the Articles ol Association. The Company is limited by guaranlee and has no share capital. The trustees during the year and at 31 October 2022 were.. L Cawdron S Hampson S Warren Trustees will be recruited as and when required by the continuing trustees by way ol personal invilalion. The Iruslees are mindful ol their duties in connection with the induction and training of new Iruslees and would follow the guidelines set down by the Charity Commission. New trustees would be referred to the Charity Commission website. They would be given copies of previous period's accounts prior to their attendance at a trustees, meeting and the founders would provide a background briefing and be available lo answer any questions. The Irusiees have the ability lo invest funds as sel out in the Articles ol Association. Objectives and activities Star Trust (Easl Midlandsl Lid is a charty based in the East Midlands, run by local business owners and entrèpreneurs, which support good causes across the region. Using our members, business expertise and commercial initiative, we hold events throughout the year to raise money lor locally-run charities that can often struggle to secure public donations, simply because they lack the profile ol national organisalions. The Iruslees shall hold the capital and income ol the trust fund upon trust and make donations as such charitable inslilulion or inslilulions al such time or limes and in such manners as lo achieve the charity objectives. The Iruslees confirm that they have referred lo the guidance contained in the Charity Commission's general guidance on publi¢ benefit when reviewing the charity's aims and objectives and in planning fLtlure activities and setting the grant making policy lor the period. Grants pollcy The Iruslees have a general policy ol seeking lo support local charities which benefit the Derbyshire, Nottinghamshire, Leieèstèrshirè, Lincolnshire and Rutlan¢J area so lar as possible although this is not an exclusive policy. The trustees are prepared lo consider national appeals il they feel that these have real merit. However, generally the Iruslees would want to see a strong link lo the local communities in the East Midlands. Page 2
STAR TRUST {EAST MIDLANDSI LIMITED {A company limlted by guaranleel TRUSTEES. REPORT l¢ontinuedl FOR THE YEAR ENDED 31 OCTOBER 2022 Financial rgview and future activities Income in the year amounted lo £105.534 and is almost entirely comprised ol lickels, pledges, rallle and auction proceeds from the fundraising events held during the year. Past and lulure events can be found on our website. Income is recorded as restricted where events are held for a specific cause. Details ol donations paid are included in the notes lo the accounts. The donations were to causes that the trustees felt were worthy ol supporting and which lullilled the objectives of the charity. Income exceeded resoLJrces expended by £36,248. Al 31 October 2022 the nel assets of the charty were £52,537. Taxation Star Trust (Easl Midlands) Limited is 8 registered eharity and as such 15 exgmpl Irom laxalion on ils income and gains to the exlenl that they are applied lo ils charitable purposes. Going Concorn Aller making appropriate enquirios, the Iwslees have a reasonable expectation that the charity has adequate resources lo continue in operational existence lor the foreseeable future. For this reason they continue lo adopt the going concern basis in preparing the financial statements Reserves policy The trustees are committed to donating the net income ol the Charity over the medium term. The charity maintains sullicienl reserves to continue lo operate in the furtherance ol ils charitable objectives. The ITUStees aim to hold reserves of approximately £20,000 once normal operations can resume. Risk assessment The Irusiees have carried out an overall risk assessment lo identify the risks associated with the operations ol the charty and, where appropriate, have introduced controls and safeguards to minimise the effects of those risks. Page 3
ST AR TRUST (EAST MIDLANDS) LIMED IA company limited by guarantee) TRUSTEES. REPORT {¢ontinuedl FOR THE YEAR ENDED 31 OCTOBER 2022 Tru$tee$' Responsibilities Statement The Iruslees (who are also directors ol Star Trust IEasl Midlandsl Limited for the purposes ol company lawl are responsible lor preparing the Iruslees, report and the financial slalemenls in accordance with applicable law and United Kingdom Accourrting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the trust&es to prepare financial slalemenls lor each financial year. Under company law the trustees must not approve the financial statem8nls unless Ihgy are satisfied that they give a true and lair view of Ihe state ol allairs ol the charitable company and ol the incoming resources and application ol resources, ncluding the income and expenditure. of the charitable company for that period. In preparing these financial slalem&nls, the Iruslees ale required to= select suitable accounting policies and then apply them consislenily., obsetve the methods and principles in the Charities SORP., make judgmenis and accounting estimates that are reasonable and prudent.. prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose wlh reasonable accuracy al any lime the financial position ol the charitable company and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible lor safeguarding the assets ol the charitable company and hence for taking reasonable slep5 lor the prevention and detection of fraud and other irregularities. Small Company Provlslons This report has been prepared in accordance with the provisions applicable to companies entitled lo the small companies exemption. This report was approved by the truste 19106123 and signed on their behalf by.. S Hampson Trustee Page 4
STAR TRUST (EAST MIDLANDS) LIMITED IA company limiled by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2022 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STAR TRUST (EAST MIDLANDS) LIMITED (the 'charity'} I report lo the charity trustees on my examination ol the accounts ol the charity lor the year ended 31 October 2022. This report is made solely lo the charity's Iruslees, as a body, in accordance with Part 4 01 the Charities (Accounts and Fleportsl Regulations 2008. My work has been undertaken so that I might slate lo the charily's Iruslees those matters l am required lo slate lo them in an Independent examiner's report and lor no other purpose. To the lullesl exlenl permitted by law, I do not accept or assume responsibility lo anyone other than the charity and the charitys trustees, as a body, lor my work or lor this report. RESPONSIBILITIES AND BASIS OF REPORT As the Iruslees ol the charity land ils directors lor the purposes ol company lawl you are responsible lor the preparation ol the accounts in accordance with the requirements of the Companies Act 2006 Ilhe 2006 Act'l. Having satisfied myself that the accounts ol the charity are not required lo be audited under Part 16 01 the 2006 Act and are eligible lor independent examination, I report in respect ol my examination ol the charity's accounts carried out under section 145 of the Charities Act 2011 Ilhe 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Aet. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I can conlimi that no matters have come to my attention in connection wth the examination giving me cause to believe.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements ol section 396 01 the 2006 Act other than any requiremenl that the accounts give a 'lrue and lair. view which is not a matter considered as part ol an indepencsenl examination- or the accounts have not been prepared in aceordance wlh the methods and principles of the Statement ol Recommended Practice lor accounting and reporting by charities lapplicable to charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 10211. I have no concerns and have eome across no other matters in connection with the examination to which attention should be dra% in this report in order to enable a proper understanding ol the accounts to be reached. Signed.. Dated.. 21106123 Robert Anderson FCA Streèts LLP Tower House Lucy Tower Street Lincoln LN1 1XW Page 5
STAR TRUST (EAST MIDLANDS} LIMITED IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENOITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2022 Unrestrlcted lunds 2022 Total funds 2022 Total funds 2021 Note INCOME FROM: Other trading activities= Fundraising 105,534 105,534 39,562 TOTAL INCOME 105,534 105,534 39,562 EXPENDrruRE ON: Raising funds Charitable activities 56,728 12,558 56,728 12,558 5,214 33,138 TOTAL EXPENDITURE 69,286 69,286 38.352 NET INCOME BEFORE OTHER RECOGNISED GAINS AND LOSSES NET MOVEMENT IN FUNDS 36,248 36,248 36,248 36,248 1,210 1,210 RECONCILIATION OF FUNDS: Total funds brought forward 16,289 16,289 15,079 52.537 52.537 16,289 TOTAL FUNDS CARRIED FORWARD The notes on pages 8 10 14 form part of these financial statements. Page e
STAR TRUST (EAST MIDLANDS) LIMITED IA company limited by guarantee) REGISTERED NUMBER: 08536549 BALANCE SHEET AS AT 31 OCTOBER 2022 2022 2021 Note CURRENT ASSETS Deblors Cash at bank and in hand 1,730 82,357 953 17,100 84,087 18,053 CREDITORS: amounts falling due within one year (31.550) (1,764) NET CURRENT ASSETS 52.537 16.289 NET ASSETS 52,537 16,289 CHARITY FUNDS Unreslricled funds 10 52.537 16,289 TOTAL FUNDS 52,537 16,289 The charity's financial slalemenls have been prepared in accordance wtth the provisions applicable to companies subj&cl lo the small companies regime. The Iruslees consider that the charity is entitled lo exemption from the requirement lo have an audit under the provisions ol section 477 01 the Companies Act 20061.the Acl"l and members have not required the charity lo obtain an audit for the year in question in aecordance with se¢lion 476 01 the Act. The Iruslees acknowledge their responsibilities lor complying with the requirements ol the Companies A¢1 2006 th respect lo accounting records and the preparation ol financial slalements. The financial slalemenls were ap signed on their behalf, by.. and aulhorised lor issue by the trustees on 19106123 and S Hampson Tru$tg0 The notes on pages 8 to 14 form part ol these financial statements. Page 7
STAR TRUST (EAST MIDLANDS) LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 ACCOUNTING POLICIES 1.1 Basls of preparatlon ol flnancial statements The financial slalernenls have been prepared in accordance with Accounting and Reporting by Charities.. Slalemenl ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffeclive 1 January 20151- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 and the Companies Act 2006. Star Trust (Easl Midlands) Limited meets the definition ol a public benefit entity under FRS 102. Assets and liabilili&s are initially recognised al historical cost or transaction value unless olhelwise slated in the relevant accounting policy. 1.2 Company statu$ The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event ol the charity being wound up, the liability in respect of Ihe 9uaranlee is limited lo £10 per member ol the Charity. 1.3 Income All income is Tecognised once the charity has entitlement lo the income, il is probable that the income will be received and the amount ol income re¢eivable can be measured reliably. Other income is recognised in the period in which il is receivable and lo the exlenl the goods have been provided or on completion ol the service. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to Iransler economic benefit to a third party, it is probable that a transfer ol economic benefits wll be required in settlement and the amount ol the obligation can be measured reliably. Expenditure is classified by aclivily. Costs ol raising funds are the direct costs incurred in F)utting on the lundraising gvgnls pul on by the charity. Charitable activities and Governance costs are costs incurred on the charills operations, including support costs and costs relating 10 the governance ot the charity apponioned 10 charitable activities. Grants payable are charged in the year when the er is made except in those cases where the offer is conditional, such giants being recognised as expenditure when the condilitsns attaching are lullilled. Grants ollered subject to conditions which have not been mel al the year end are noted as a commitment, bul not accrued as expenditure. 1.5 Debtors Other deblors are recognised al the settlement amount alter any discount ollered. Prepayments are valued at the amount prepaid. Page 8
STAR TRUST (EAST MIDLANDS) LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR TPIE YEAR ENDED 31 OCTOBER 2022 ACCOUNTING POLICIES Icontinuedl 1.6 Cash at Bank Cash al bank represents cash held in curr8nl account lacililies. 1.7 Liabilities Liabilities are recognised when there is an obligation al the Balance sheet dale as a rgsult of a past event, il is probable that a Iransler ol economic benefit will be required in settlement. and the amount ol the settlemgnl can b8 gslimaled reliably. Liabili118s are recognised al the amount thai the charity anlicipales il will pay lo settle the debt or the amount il has received as advanced payments lor the goods or services it musl provide. 1.8 Finan¢lal Instrument$ The charity only has financial assets and financial liabilities ol a kind that qualify as basic linaneial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value. 1.9 Fund accounting General funds are unrestricted funds which are available for use al the discretion ol the tTUStees in furtherance ol the general objectives ol the charity and which have not been designated lor other purposes. FUNDRAISING INCOME Unrestricted funds 2022 Tolal funds 2022 Total funds 2021 Fundraising events 10S,534 105,534 39,562 Total 2021 39,562 39.562 Page 9
STAR TRUST {EAST MIDLANDS) LIMITED {A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Other costs 2022 Total 2022 Total 2021 Expenditure on raising voluntary income 56,728 56,728 5,214 Costs of raising funds 56.728 56,728 5.214 Charitable activities 12.558 12,558 33, 138 69.286 69,286 38,352 Total 2021 38.352 38,352 COSTS OF RAISING FUNDS Unrestricted funds 2022 Total funds 2022 Total luncls 2021 Fundraising costs incurred 56,728 56.728 5,274 Toial 2021 5,214 5,214 Page 10
STAR TRUST (EAST MIDLANDS) LIMITED IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 ANALYSIS OF GRANTS Total 2022 Total 2021 Grants to organisations 22,926 Total 2021 22,926 A lolal of £52,956 01 grants have been paid following the year end. SUPPORT COSTS Total 2021 Total 2021 Accountancy Other costs Bank charges Bad debt wrile off 650 3,994 568 5.000 11,491 167 12,5S8 10,272 Total 2021 10,212 NET INCOMEIIEXPENDITURE) This is stated after charging.. 2022 2021 Independent exafflination cosls 650 During the year, no trustees received any remuneration12021 £NILI. During the year, no trustees received any benefits in kind12021 £NILI. During the year, no trustees received any reimbursement ol expenses12021 £NILI. DEBTORS 2022 2021 Other debtors 953 Paoe11
STAR TRUST (EAST MIDLANDS) LIMITED IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCT08ER 2022 CREDITORS: Amounts falling due within one year 2022 2021 Trade creditors Accruals and deferred income 29,650 1,900 114 1,650 31,550 1,764 DeleiTed income at the 2022 year end was £nil12021 £nill. Page 12
STAR TRUST {EAST MIDLANDS) LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 10. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 1 November 2021 Balance at 31 October 2022 Income Expendlture Unreslricted funds General Funds 16,289 105,534 {69,2861 52,537 STATEMENT OF FUNDS- PRIOR YEAR Balance al l November 2020 Balance al 31 Oclober 2021 Income Expenditure General Funds 15,079 39.562 (38,352) 16,289 Tola10l funds 15,079 39.562 (38.352) 16,289 SUMMARY OF FUNDS- CURRENT YEAR Balance at 1 November 2021 Balance at 31 October 2022 Income Expenditure General funds 16.289 105.534 169.286) 52,537 SUMMARY OF FUNDS- PRIOR YEAR BalanGe al 7 Novembei 2020 Balance al 31 Octobei 2021 Income Expendilure General funds 15,079 39,562 (38,352) 16,289 Page 13
STAR TRUST IEAST MIDLANDS) LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrestricted funds 2022 Total funds 2022 Current assets Creditors due within one year 84.087 131,550) 84.087 131,550) 52,537 52,537 ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR Unreslricleo funds 2021 Total funds 2021 Currgnl assets Creditors due within one year 18.055 11.764) 18,053 (1,764) 16.289 16,289 12. RELATED PARTY TRANSACTIONS During the year purchases of £1,542 12021 £1,316) were made from Creative Minds, a business connected lo S Warren. The balance outstanding on these transactions at the year end was a debtor of £400 12021 debtor of £3581 following an overpayment ol invoices. The Iruslees ensure that all purchases are at market value or discounted. Page 14