Reglstered number: 08536549 Charlty number: 1153928 STAR TRUST (EAST MIDLANDS) LIMITED (A company Ilmlted by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
STAR TRUST (EAST MIDLANDS) LIMITED (A company Ilmlted by guarantee) CONTEKrs Page Reference and 8dm5nl8lratlve deta118 of th8 charlty, Its trn#te8s and advlser8 Trusts83' rnport Independ•nt oxamlnfrr'g roport Statement of flnanelal actlvltle• Bolance Sh1 Notas to the flmnclal ststem8nts 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 2023 TNstees L Cawdron S Hampson S Warren Company roglstergd numbei 08536549 Charlty roglslered numbei 1153928 Rogl8br•d offi¢e Tower House Lucy Towver Slr8el Llncoln LN1 IXW Company Jecretary S Hampson Accountant8 Stree18 LLP Chartered Accountants Tower House Lucy Towor Stroel LSncoln LN1 1XW Page 1
STAR TRUST (EAST MIDLANDS) LIMrrED {A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 OCTOBER 2023 Tho Iruslees presgnt their annual report together with the financial statements ol Ihe charity lor Ihe year 1 Novernber 2C122 10 31 October 2023. The trustees eonlirm that the Annual Report and Ilnancial Statements ol the company comply whh the currant slalulory requirements, the requirements ol the companys gov8rning doeumenl and the prov151ons ol the Statemant ol Recomrnended Pracllce ISORPI, applicatje to charltles preparlng Ihèli accounts Sn accordance with the Flnanclal Reporting Standard appllcable in the UK and Republic ol Ireland IFAS 1021. Slnce the charlly quali1Ses as small under sectlon 383, the straleglc r¢port requlred of medSum and large companies under The Companies Act 2006 Istraleglc R8POrt and Direclovs Report) Rggulatlons 2013 is not requlred. Siructurè and governance The Star Trust (Easl Midland81 Llmlted Is an Incorporated charlty eslabllshed under tho Artlcles of A880cialion. Th8 company is limiled by guarantee and has no share capital. The Iw$l•ès durlng the year and al 31 October 2023 wera: L Cawdron S Hampson S Warren Trustees 11 bg recruited as and when requlred by the contlnuing Iru8t8e8 by way ol p8rsonal Invllatlon. Th¢ Iruslees are mlndlul ol IheSr dulle8 In connecllon wlth th8 inducllon and tralnlng ol naw Iruslegs and would follow the guldellnes sel down by the Charlly Comm1881on. New Iruslees would be referred lo the Charliy Gommlsslon wobslle. They would be gSven coples ol previous period's accounts prior to Ihelr attendance at a trustees, me81ing and the founder8 would provide a background brietlno and be avallablé lo answer any questions. The trustees hav& the ablllty to Invest funds as Sel out In the Artlcl88 ol Assoclalion. Obl8CtIvg9 and acllvltleg Star Trust (Easl Midlands) Ltd is a charity based In the East Midlands, run by local business owners and entrepreneurs. whlch support good causes across Ihe règlon. UsSng our members, buslness expertlse and commercial inilialive, we hold events throughout the year to ralse money for locally-run charltles that can often struggle to secure publlc donatlons, slmply because they lack the profile ol natlonal organisations. The Iruslegs shall hold th8 capital and Income of the trust lund upon trust and make donallons to such charitable Instllution or instilulions al such time or limes and in such manners as to achieve the charity oblectives. The trustees confirm that they have r8ferred lo the guldance contained in thè Charhy Commisslon's general guidancg on public benefit when revlewing the charity's alms and objeclives and In planning lulure actlviiS85 and settSng the grant making pollcy lor the perfod. Grants pollcy Th8 trustees have a general policy ol seeking lo support local charities which benefit tho Derbyshire, Noltinghamshire, Leicestershire, Lincolnshire and Rutland area so far as possible although thSs is not an exclusive policy. The trustees are prepaTed lo consider national appeals if they feel that thes8 havo roal merit. However. generally the trusteos would want 10 See a strong link to the local communltles in the East Midlands. Pago 2
STAR TRUST (EAST MIDLANDS) LIMITED (A company limited by guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2023 Financlal revlew and future aetlvltleg Income in the year amounted lo £182,027 and Is almost entirely ¢omprlsed ol ticket5, pledges, raffl8 and auction Pfoceeds frorn the lundralslng 8vents held durlng the year. Past and futur¢ &venls can be found on our web8118. Incom8 is re¢ord8d as reslrkled wh8re events are held lor a sp8cllic cause. DetlS ol donatlons paid are included Sn the notes lo the a¢counls. The donallons w8r8 to causes that the trusl8e8 leli were worthy ol supporting and whl¢h lullllled the objeGilves ol the charity. Income oxcaeded resources expended by £14,816. At 31 October 2023 thè net a88els ol ihe charlty were £67,353. Tuatlon Star Trust IEast Mldlandsl Llmlted 1$ a reglster8d charfty and as Such Is exempl from l&¥atlon on ils in¢om8 and gains lo the exlenl that they are 8pplled to Its charllable purposes. Golng Concem After maklng appropriate 8rNuiriès, th8 Iruslees havo a reasonable expeclallon Ihal the charity has adequat8 resources lo continue In operational exlst8nce lor the loresegable luture. For thls reason they conllnue to adopt the going concern basi$ in preparing the Ilnancial slat6m8nls. Rg8ervos poIIcy The Iruslees arè commltted lo donatlng the nel Incom8 ol the chaiity over Ihg medlum term. Tha charlty mainlalns sullicient reserves lo continue lo oparate In the lurtherance of118 charilabla oblaclives. The trustees m lo hold reserves ol approxlmat8ly £20,000. Rlsk a¥$ment The Iruslegs have carrled out an ovgrall risk assessment lo kl8nlity the rtsks associated wtih the operatlons of the charlly and, whgro appropriate, have Introduced controls and safeguards lo mlnimlse the ellect8 01 those rlsks. Page 3
STAR TRUST (EAST MIDLANDS) LIMITED (A company Ilmlted by guarantee) TRUSTEES, REPORT {contlnued) FOR THE YEAR ENDED 31 OCTOBER 2023 Trustees, Responslbllltles Statemenl The trustees (who are also direclors of Star Trusl (East Midlands) Limited lor the purposes ol company lawl are responslble lor preparlng the Iruslees, r8POrt and the tinancial slalemenls in accordance wllh app11cable law and Unlted Kingdom Accounting Standards (United Kingdom G8n8rally Accepted Accounting Praclicel. Company law rèqulres the Iruslees to prepare fin8ncial statements lor each financial yoar. Under company law the trustees musl not approve the linanclal slalgmgnls unless Ih8y arg satSslled that th8y giv8 a true and lalr view ol the slate ol allairs of Ihg charitable company and DI the Incomlng resources and application ol Tesources, includlng the Incom8 and expendlture, of the charltable company tor Ihal penod. In preparing those linanclal slalemen15, Ihe trusteès are required to.. s•l&cl suitable accounting policles and then apply them consIstenY', observe the rnelhods and prlnclpl¢s In the Charities SORP; make ludgments and accounllng esumates that are reasonable and prudent. prepar8 th8 financlal slalement8 on the going con¢¢rn basis unless il Is inappropriate to presume that the harllabla company will contlnue In operation. The Iruslees are responsible lor k8eping adequat¢ accounting records that are sulllclenl to show and axplaln the chari18ble compan¥s tran5actlons and dlsclose with reasonable accuracy at any Ilme the financial position ol the chaTllablè company and enable them lo ensure that the Ilnanclal slalemenls compty wtth the Gompanles Act 2006. They are also responslble lor 5al¢guarding the assels ol the charitable company and hence for laking reasonabl8 steps lor the pr8v8nlion and dg1e¢lion ol fraud and other irregularilleg. Small Company Provl•lon¥ This report has been prepared in a¢cordance wllh the provislon5 appllcable lo companies entitled lo the small companles exgmpllon. Thls report wa8 approved by the trustee8 on oLb I gr on Ih91r béhdf by.. S Hamp80n Tru$l•• Page 4
STAR TRUST (EAST MIDLANDS) LIMrrED IA company limtted by guarantee) INDEPENDE EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STAR TRUST (EAST MIDLANDS) LIMITED (the'charlty.) I report to the charlty trustees on my 8xaminalion ol th8 accounts of the charlty lor tha year ended 31 October 2023. This roport Is mad8 sol8ly to the charills Iruslees, as a body, In accordance with Part 4 of the Charities (Accounts and Report81 Regulations 2008. My work has b88n undertaken so that I might stale to the charitys trustees those matters l am r8qUITed to slat8 lo Ihern in an Indep8nd8nl examinerfs report and IOT no other purpos8. To the lullesl exlenl permitted by law, I do not accept or assum8 responsibility lo anyone other than the charity and tha charitvs Iruslees, as a body, for my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT As th& tru8te88 ol th8 charty land ils director$ for the purposes ol Company lawl you are responsSble for the preparatlon ol the accounts In accordance Wth the rgqulremen18 of the CoFnpanle8 Act 2006 Ilha 2006 Acl'l. Having salislled myself that the accounts of the chaflty are not requlred lo be audit under Part 16 01 tha 2006 Act and are eligStJe lor Ind8pendenl examlnallon, I report Sn respoct ol my examination ol the charitys accounts carrled out under section 145 of the Charllies A¢t 2011 1'lh& 2011 Acl'l- In carrying out my examinalion 5 have followed the Directlons given by the Charity Commission under section 14515llbl ol the 2011 Aci. INDEPENDEKf EXAMINER'S STATEMENT I have completed my examlnatlon. I can confirm Ihat no matters have come lo my attenllon In connectbn wSlh the examlnallon givlng mg Gause lo belleve: accounting records were not kept Sn resp8cI ol the charfty as requlred by secllon 886 01 the 2006 Act,. or the accounts do not accord with those records,. or the accounts do not ctsmply with tho accounting requirements o18ectlon 396 01 the 2006 Act other than any rèquirement that the accounts glve a Irug and lalr, view whlGh is not a matter Gonsidered as part of an indep8ndent examlnalion- or the account5 have not b88n prepared In accOrdar9 th the methods and principles of the Slalgment of Recommended Pra¢ile8 lor accounting and reportlng by charilles lapplicablg lo charfties preparing Ihelr a¢counls in accordanco with tho Financial Reporbng Standard applicable in the UK and Republic ol Ireland IFRS 10211. I have no concerns and have come across no other mallers In conneclion with the èxaminatSon lo whlch attention should be drawn in thls report in order to enable a proper understandlng ol the accounts to be reachgd. Signed= Dated. y1712 Robert Anderson FCA Streets LLP Tower House Lucy Tower Street Llncoln LN1 1XW Pag8 5
STAR TRUST (EAST MIDLANDS) LIMITED IA company Ilmlted by guarantee) STATEMENT OF HNANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023 Unrestrlcted lunds 2023 Total fvnd$ 2023 Total funds 2022 Note INCOME FROM: Olher trading actNili&s: Fundraising 182,iY27 182.027 105.534 TOTAL INCOME 181027 182,027 105,534 EXPENDrruRE ON: Flwsing funds Charitable acllvi118s 64.296 102,915 64,296 102,915 56,728 12,558 TOTAL EXPENDThURE 167,211 167,211 69.286 INCOME BEFORE OTHER RECOGNISED GAINS AND LOSSES NET MOVEMENT IN FUNDS 14,816 14,816 14,816 14,816 36,248 36,248 RECONCILIATION OP FUNDS: Total funds brought fomard 52,537 52,537 16,289 87,353 67,353 52,537 TOTAL FUNDS CARRIED FORWARD The notes on pages 8 to 14 form part ol th959 Ilnancld slalemenl8. Page 6
STAR TRUST (EAST MIDLANDS) LIMED (A company Ilmlted by guarantee) REGISTEFIED NUMBER.. 08536549 BALANCE SHE AS AT 31 OCTOBER 2023 2023 2022 Note CURRENT ASSETS Debtors Cash al bank and in hand Y,730 82,357 77,907 77,907 84,087 CREDITORS: amounts falling due wlthln onè yèar {10,5541 (31,550) NET CURRENT ASSETS 67,353 52,537 NET AsSs 67,353 52,537 CHARITY FUNDS Unrestrl¢tad fund8 10 67,353 52,537 TOTAL FUNDS 67,353 52,537 The charitys flnanclal slal8menls hav8 b&en prepared In accordance wlth thg provlslons appllcabl8 to companles subj1 lo the small companlos wime. The Iru8tee8 consider that the charlly is entllled lo exgmplion from the requirgm8nt to have an audit under the provisions ol section 477 01 the CoTnpani85 Act 20061'ih8 Act") and members have not requlred the charity lo obtain an audil lor th8 year In question in a¢wrdance wrth sectlon 476 of the Act. The trustees acknowledge thelr re8pon8lbllttles lor complylng wlth tha requlremenls of the Companles Act 2006 wllh respact to accounllng records and the pr8paratlon ol Ilnanclal statements. or188U8 by the Iruslees on Ic)•114 The ffnanclal slalomenls w&re approved and au and slgned on thelr beh1, by.. S Hamp$on Trustee The notes on pages 8 10 14 form part ol th888 linanoial stalgments. Page 7
STAR TRUST (EAST MIDLANDS) LIMITED {A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 ACCOUNTING POLICIES 1.1 Basls of pr8paratlon ol financlal ststements The financial slalemenls hav8 been prepared In aocordanca with Accounting and R8POrting by Charfcies.. Statement ol Recommended Pracllce applicable lo chaiilles preparing thelr accounts In accordance with the Financial Reporting Standard applicable In the UK and Republic ol Iraland IFAS 1021 lellectlve 1 January 20151- ICharSties SOFIP IFRS 10211. the Financial Rèportlng Slandard appliGable In the UK and Republic of Ireland IFRS 1021 and thg Companies Act 2006. Star Twsl (Easl Midlands) Limited meets th8 delinilion ol a public benefit onlEty under FFIS 102. Assets arKI liabilities are Inillally recognlsed al hlslorical ¢ost or Iransactlon value unless othe188 staled In the relevant accounllng pollcy. 12 Company slatus The charity 1$ a Company Ilmited by guarantee. The members ol Iha company are Ihg Iruslges named on page 1. In the event ol the charhy belng wound up, the Ilablllty In respect of the guaranlae Is Ilmiled lo £10 per mgmb8r ol the charlty. 1.3 Income A15 incom8 is recognisgd onee the charlly has entlilemenl lo Ihe Income, 11 is probable that the irKomo 11 be rec8Ived and th8 amount ol Income recelvablo ¢an be measured reliably. other Income 15 rècognSsed In the period in which 1118 receSvable and to the exlenl the goods have bean provlded or on completion ol the Service. 1.4 Expendlturo Expendllure Is recognised once there Is a lagal or conslruclive obligation lo Iransler econom1¢ benÉlil to a Ihlrd paty, il is probabl& that a transfgr ol economlc benefits 11 be requlred Sn settlement and th& amount ol the obliualion can be measurgd rellably. ExpendlbJr81s cla$$lfied by aCtIty. Costs ol ralslno fund8 are the direct costs Incurred In puttlng on the lundralsing events pul on by the charlly. Charitable actlvitles and Governance costs are costs Incurred on the charKls operallons, Including 5UPPgrt costs and costs relating to the governance ol the charity apportlon8d lo charitable actiwlle8. Grants payable are chged In Ihe year when the offer Is made except in those cases where the oller is condillonal, such grants bgino recognisod as gxpenditure when the conditions attachlng ar fulfilled. Grants ollered subject lo conditions which havg not been mel al the year are noted as a commilmgnl, bul not aGcwed as expenditure. 1.5 Debtors Other debtors are recognlsed at lh9 Setderne amount after any discount offered. Prepayment8 are valued al the amount prepaid. Page 8
STAR TRUST (EAST MIDLANDS) LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 ACCOUNTING POLICIES {contlnued) 1.6 Cosh at Bank Cash at bank represents cash held in cutTeni acwunt lacilltle8. 1.7 Llabllitios Llabllltlos are recognlsed when there Is an obllgalion al the Balance sheèt dal8 a8 a result of a past event, It is probable that a transfer of economic bgnefii wlll be required In $8ttlomenl, and thè amount ol the settlemènt can be eslimatgd rellably. Liabilities are rocoonlsed al the amount that the charlty anliclpales il will pay to settle the debt or tho amount 51 ha8 received a8 advanced paymènts lor the goods or 8eNlces11 must provlde. 1.8 FlnanclAI In•trumonts The charlty only ha8 flnancial assets and Ilnanclal IlabS111ies of a klnd that quallfy as ba81c fSnarKlal In8trumenl8. Yasic financial instrumonts are Initlally r0¢0Gnl8ed at Iran5actlon value and ¥ubsequenlly measur8d al Ihelr settlamenl value. 1.9 Fund accounllng General funds arg unr8slricted funds whlch are avallable lor uso al the dSscrellon ol the trustees In furtherance ol the gene1 oblecllves ol the charity and whlch have not baen designated lor other purpos¢s. FUNDRAISING INCOME Unre•trlctod fund4 2023 Total fund8 2023 Tot81 funds 2022 Fundralsing events 182.027 182,027 105,534 Total 2022 105,534 105.534 Page 9
STAR TRUST {EAST MIDLANDS) LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Other costs 2023 Total 2023 Total 2022 Expenditure on raising voluntary Income 64,296 64,296 56,728 Costs of rn18lng fund8 64.296 64,296 56,728 CharSlable actlv1119S 102,915 102,915 12,558 167,211 167,211 69,286 Tot812022 69,286 69,286 COSTS OF RAISING FUNDS Unregtrlcted lund• 2023 Totsl lunds 2023 Total lunds 2022 Fundralslng costs Incurred 64,296 64,296 56,728 rota12022 56,728 56,728 Page 10
STAR TRUST (EAST MIDLANDS) LIMITED (A company limiled by gu•rantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 ANALYSIS OF GRAPs Grnntg to In8titutlons 2023 Total 2023 Total 2022 Grants to organisalions 94,051 94,051 SLIPPORT COSTS Total 2021 Total 2022 Accountancy Other costs Bank charg88 1,140 7,119 605 900 11,491 167 12,558 Tot812022 12,558 NET INCOMEIIEXPENDtfuRE> Thls Is staled after charglng: 2023 20 IrKlependont examlnalion c08ts 1,140 During the ygar. no trustees recelved any remunerallon12022- £NILI. During the year, no trusioes recelved any benefits in kind12022- £NILI. During th8 year, no trustees received any relmbursemenl ol expenses12022- £NILI. DEBTORS 2023 2022 Other debtor5 Page11
STAR TRUST (EAST MIDLANDS) LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 CREDITORS.. Amounts falllng due wlthln one year 2023 2022 Trade creditors Accruals and deferred In¢om6 1,014 29,650 1,900 10,554 3Y,550 Deferrgd Income at th9 2023 yaar end was £nll12022- £nlll. Page 12
STAR TRUST (EAST MIDLANDS) LIMITED IA company limiled by guarantee) NOTES TO THE FINANCIAL sTATEmEs FOR THE YEAR ENDED 31 OCTOBER 2023 10. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance al 1 Novembgr 2022 Balance at 31 October 2023 In¢offle Expendlture Unre8trlctod fund8 Ggnoral Funds 52,537 182,027 1167,211) 67,353 STATEMENT OF FUNDS- PRIOR YEAR 8al8nc8 al l November 2021 Balan¢8 81 31 Oclobei 2022 Incom8 Expendlturo General Funds 16,289 105,534 {69,286) 52,537 Total ot fund8 16.289 105,534 {69,286) 52,537 SUMMARY OF FUNDS. CURRENT YEAR Balan¢9 al 1 Novemb8T 2022 Balance at 31 October 2023 Incomo Expondlture General funds S237 182,027 (167,2111 67,353 SUMMARY OF FUNDS. PRIOR YEAR Balance al l Novembei 2021 Balance al 31 Oclobei 2022 Income Expendituro General funds 16.289 105,534 {69,286) 52,537 Page 13
STAR TRUST {EAST MIDLANDS) LIMITED (A company Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEeN FUNDS- CURRENT YEAR Unre8trlcted fund8 2023 Totsl lunds 2023 Current assets Credllors due wilhln one year 77,907 (10,554) 77,907 110.554) 67,353 67,353 ANALYSIS OF NET ASSEfs BETWEEN FUNDS- PRIOR YEAR Unrestrtcled lunds 2022 Total fvnds 2022 Current assets Creditors due wlthln one year 84.087 (31,550) 84,087 (31,550) 52,537 52,537 12. RELATED PARTY TRANSACTIONS DurSng the y8ar purchase8 01 £4,241 12022 - £1,542) were made from Creallve Mlnds, a buslne8S connected to S Warren. The balance outstanding on these transactions al the year end was a debtor ol £40012022 - debtor of £4001 followlng an overpayment ol Involces, Ihls Is held wlthin tradg crgdilors. The Iru518es ensure that all purchases are al mark&t value or dlscounted. Page 14