Reglstered 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 2024
STAR TRUST (EAST MIDLANDS) LIMITED (A company Ilmtted by guarantee) CONTEKrs Page Referenc• and admlnlstratlvo detalls of th? charlty, its trustees and advlsers Trustees, report Independent examlneV8 report Statemènt of f Inanclal actlvltles Balance sheet Notos to thg flnanclal ststemems 8-14
STAR TRUST (EAST MIDLANDS) LIMrrED (A company Ilmited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2024 Truslees L Cawdron S Hampson S Warren Company reglstered number 08536549 Charhy reglstered number 1153928 Reglstsred office Tower House Lucy Tower street Lincoln LN11XW Company s8cYotary S Hampson Accountan18 Streets LLP Chartered Accountants Tovrfgr House Lucy Tower Street Lincoln LN1 1XW Page 1
STAR TRUST IEAST UIDLANDS) LIMtfED (A company Ilmitad by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 The trustees present their annua5 report together wth the financial statements of the charity for the year 1 November 2023 to 31 October 2024. The trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the companls governing document and the provistons of the Statement of Recommended Praclice (SORP), applicable to charities preparing their accounts in accordance the Financial Reporting Standard a)I]cable in the UK and Republic of Ireland (FRS 102). Since the charity qualifies as small under seclion 383, the strategic report required of medium and large companies under The Companies Act 2006 (straiegic Report and Directovs Report) Regulations 2013 is not required. Structure and governance The Star Trust (East Midlands) Limited is an incorporated charity eslablished under the Articles of Association. The company is limited by guarantee and has no share capital. The trustees during the year and at 31 October 2024 were: L Cawdron S Hampson S Warren Trustees wll be recruited as and when required by the continuing trustees by way of personal invitation. The trustees are mindful of their duties in connection with Ihe indu(Aion and training of new trustees and would follow the guidelines set down by the Charity Commission. New ttustees would be referred to the Charity Gommission website. They would be given copies of wevTrous period's accounts prior to their attendance at a trustees. meeting and the founders woukl provide a backgmund briefiTVJ be available to answer any questions. The trLL8tees hav8 the abilty to invest funds as sel out in the Artides of Association. Objectlves and actlvitles Star Trust {East Midlands) Ltd is a charity based in the East Midlands, run by local business owners and entrepreneurs, which support good causes across the region. UsirwJ our members, business expertise and commercial initiative, we hold events throughout tt year to rise money for locally-run charities that can often struggle to secure public donations, simply because they lack the profile of national organisations. The trustees shall hokl the ¢aFxtsI and income of the trLt fund upon trust and make donations to suc*J ¢harilable institution or institutions at suth time or times and in such manners as to achieve the charrty objectives. The trustees confirni that they have referred lo the guidan contained in the Charity Commission's general guidance on public benefit when reviewing the charitrfs ams and objectives and in planning future activities and setting the grant making policy for the period. Grants pollcy The trustees have a general policy of seeking to support local charities vthich benefit the Derbyshire, Nottinghamshire, Leicestershire, Lincolnshire and Rulland area so far as possible although this is not an exclusive policy. The trustees are prepared to consider national appeals if they feel that these have real merit. However, generally the Irustees would want to see a strong link to the local communiti8s in the East Midlands. Page 2
srAR TRusf (EAST MIDLANDS) UMrrED (A company Ilmited by guarantee) TRUSTEES. REPORT {contlnued) FOR THE YEAR ENDED 31 OCTOBER 2024 Flnanclal revlew and future actlvities Income in the year amounted to £171.170 and is almost entirety comprised of tickets, pledges, raffle and auction proceeds from th8 fundraising events held during the year. Past and future events can be found on our website. Income is recorded as restricted where events are held for a specrfie cause. Details of donations paid are included in the notes to the accounts. The donations were to causes Ihat the trustees felt were worthy of supporbng and which fuwilled the objeclrves of the charity. Income exceeded resources exp8nded by £28,688. At 31 October 2024 the net assets of the charity were £96,041. Taxation Star Trust (East MidlarKls> Limited is a registered charity and as such is exempt from taxation on its income and gains to the extent that they are applied to its charitable purposes. Golng Concern After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in Operation existen for the foreseeable future. For Ihis reason they continue to adopt the going concern basis in preparing the financial statements. Reservos pollcy The trustees are commÉtted lo donating the net income of the chartty over the medium temi. The charity maintains sufficient reserves to continue to operale in the furtherance of its charitable objectives. Th8 trustges aim lo hold reserves of approximalely £20,000. Rlsk assessment The trustees have carried out an overall rlsk assessment to identify ttie rBks associated with the operations of the charlty and, where appropriate. have introduced controls and safeguards to minimise the effects of those risks. Page 3
srAR TRUST (EAsf MIDLANDS) LIMITED (A company limited by guarantse) STATEMENT OF FINANCIAL ACTMTIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Unresirlcied funds 2024 Total turKIs 2024 Total funds 2023 Note INCOME FROM: Other trading acthAties: Fundraising 171.170 171,170 182,027 TOTAL INCOME 171,170 171,170 182.027 EXPENDITURE ON: Ralslng funds Charitable actlvities 59,623 82,859 59,6Y3 82,859 64,296 102,915 TOTAL EXPENDITURE 142,482 142.482 167,211 NET INCOME BEFORE OTHER RECOGNISED GAINS AND LOSSES NET W&OVEMENT IN FUNDS 21688 28.688 28,688 28,688 14,816 14,816 RECONCILIATION OF FUNDS: Total funds brought fornard 67.353 67.353 52.537 96,041 96,041 67.353 TOTAL FUNDS CARRIED FORWARD The notes on pages 8 to 14 fomi part of these financial statements. Page 6
STAR TRUST (EAST MIDLANDS) UMITED (A mPaTry limited by guarantee) TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2024 Trustees. Responsibilitles Statement The trustees (who are also directors of Star Trust {East Midlands) Limited for the purposes of company law) are responsible for weparing the trustees, report and the financial statements in accordance with applicable law and United 'ngdorn Accounting Standards (United lfjngdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financtal statements for each financaal year. Under company law the trustees must not approve the financtal slatements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of reSoUrs, including the income and expenditure, of the charitaAe company for that period. In preparing these financial statements, the trustees are required lo: select suitable accounting policies and then apply them consislently; observe the meth(xJs and principles in the Charittes SORP; make judgments and accounting estimates that are reasonable and prudent,. prepare the financial statements on the going concem basis unless tt is inappropriate to presume that the charitable company will continue in operation. The truslees are responsible for keeping adequate accounling records that are sufficient to show and explain Ihe charitable companys transactions and disclose with reasonable accuracy at any time the financial position of the charitable Company and enable them to ensure that the financial statements Comply with the Companies Acl 2006. They are also responsible for safeguarding the a&sets of the charitable company and hence for taking asonable steps for 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 to the small companies exemption. This report was approved by the trustees 1310512025 arKI signed on their behalf by. S Hampson Trustee Page 4
STAR TRUST (EAST UIDLANDS) UMITED (A company Ilmlted by guarantefr) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 INDEPENDENT EXAIIINER'S REPORT TO THE TRUSTEES OF STAR TRUST (EAST MIDLANDS) LIMITED (the 'charlty) I report to the charty trustees on my examination of the accounts of the charity for the year ended 31 October 2024. This report is made solely to the charity's trustees, as a body. in accordance with Part 4 of the Charltles {Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state lo the charitvs trustees those matters l am required to state to Ihem in an Independent èxamlner's report and for no olher purpose. To the fullest extent permitted by law, I do not accept or assume responslbility to anyone other than the charity and the charitys trustees. as a body, lor my work or for this report. RESPONSIBIUTIES AND BASIS OF REPORT As the trustees of the t*arity (and Its directors for the purposes of company law) you are responsible lor the preparatlon of the accounts in accordanc8 Imth the requirements of th8 Companles Act 2006 ('the 2006 Act,). Having satlslled myself that the accounts of th6 charity arè not required to be audited undar Part 16 of the 2006 Aci and are eligfole for Independent examination, I report In resped of my examlnaiion of the charItS accounts arried out Urer section 145 of the Charities Act 2011 (Yhe 2011 ACV). In cartying out my examlnation I have followed the Directions given by the Charity Commission under section 145(5}{b) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I can confinn that no matters have come to my attentn in connection wilh the examlnatlon glvlng me cause lo believe: accountlng records were not kept In respecl of the charity as r8qulred by section 386 of the 2006 Act,. or the accounts do not accord wlth those records. or th8 accounts do not comply wlth the accounting requirements of section 396 of the 2008 Act other than any requirement that the accounts give a u8 and fair view which is not a matter consid8r8d as part of an independent examination", or the accounls have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance wilh the Flnandal Reporting Slandard applicable In the UK and Republic of Ireland {FRS 102)]. I have no concems and have come across no other matters in conneciion with the examination to which attention should be drawn in this report In order to enable a proper understanding of the accounts to be reached. Signed: Dated: 1610512025 Robert Anderson FCA Sireets LLP Tower Hous8 Lucy Tower Slreet ncoln LN1 1XW Page 5
STAR TRUST (EAST MIDLANDS) LIMITED (A company Ilmlled by guarante0> REGISTERED NUMBER: 08536549 BALANCE SHEET AS AT 31 OCTOBER 2024 2024 2023 CURRENT ASSETS Debtors Cash at bank and in hand 14,457 77,907 77,907 CREDrroRS: amounts falling due within one year (5,070) (10,554) NET CURRENT ASSETS 96,041 67,353 NEf ASSETS 96,041 87,353 CHARITY FUNDS Unreslricled funds 10 96,041 67,353 TOTAL FUNDS 96041 67,353 The charitys financlal statements have been prepared in accordance with Ihe provistons applicable to companies subject to the small companies regime. The trustees consider that Ihe charity is entitted to exemption from the requirement to have an audlt under the provisions of section 477 of the Companies Act 2006 {'Ihe Acl.) and members have not required the charlty to obtain an audit for thè year in question in accordanc8 s8etion 476 of th& Act. The trustees acknowledge their responslbilities for complying with the requirements of the Companles Act 2006 with respect lo accounting records and the preparation of financ'al statements. The financial statements were approved signed on their bo alf, by: orised for issue by the trustees on 1310512025 and S Hampson Truslee The notes on pages 8 to 14 form part of these financial statements. Page 7
STAR TRUST (EAST MIDLANDS) UMITED (A eompany limited by guarantee) NOTES TO THE FINANCIAL STATEMEPUS FOR THE YEAR ENDED 31 OCTOBER 2024 ACCOUNTING POUCIES 1.1 Basls of preparation of flnanclal statements The financial stalements have been prepared in accordance wilh Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 102) {effeclive 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. Star Trust (East Midlands) Limited meets the definition of a public benefil entty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Company sLths The charity is a company limited by guarantee. The members of th8 company are the trustees named on page 1. In the event of the chaiity being wound up, Ihe liability in respect of the guarantee is limiled to £10 per member of the charity. 1.3 Income All income is recognised On the charity has enlitlement to the income, it is probable that th8 income wll be received and the amount of income receivable can be measured reliably. Other income is recognised in the period in it is receivabl8 and to the extenl the goods have been provrded or on comFAetion of the service. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economlc beneftts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is Glassified by actFVity. Costs of raising funds are the Ifirect costs incurred in wtting on Ihg fundraising events put on by the charity. Charitable actiwties and Govemance costs are (x)sts incurred on the chariws operations, including SUPFM)rt costs and costs relating to the govemance of the charity apporttoned to charitable activities. Grants payable are charged in the year when the offer Is made except in those cases where the offer is conditional, such grants being recognised as expeTKliture when Ihe conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. 1.5 Deblors Other debtors are recognised at Ihe settlemenl amount after any discount offered. Prepayments are valued at the amount wepaid. Pag8 8
STAR TRUST {EAST DAIDLANDS) UMITED (A company Ilmlled by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 ACCOUNTING POUCIES (contlnued) 1 Cash at Bank Cash at bank represents cash held in curront account facilitles. 1.7 Llabllltles Liabilities are recognised when there is an obllgation al the Balance sheet date as a result of a past ev8nt, It is probabl8 that a transfer of economic benefit will be required In settlement, and the amount of the settlement can be estimated reliably. Liabilltles are recognised at the amount that the charity anticipates it will pay to setde the debt or the amount it has received as advanced payments tor the goods or services It must provide. 1.8 Flnanelal Instrumen18 The charity only has financial assets and financial Ilabllitles of a kind that quallfy as basic financial inslrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured at their selllement value. 1.9 Fund accounllng General funds are unrestricted funds which are avallable for use at the dlscretion of the trustses in furtherance of the general objectives of Ihe charity and which have nol been dgsignated for other purposas. FUNDRAISING INCOME Unrnstrictsd funds 2024 Total funds 2024 Total fvnds 2023 Fundraising events 171,170 171,170 182,027 Total 2023 182.027 182,027 Page 9
STAR TRUST (EAsf MIDLANDS) LIMITED (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 ANALYSIS OF EXPENDrruRE BY EXPENDrruRE TYPE Total 2024 Total 2Q23 2024 Expenditure on raising voluntary Income 59,623 59,623 64,296 cOS of ralslng funds 59,623 59,623 64.296 Charitable a¢vItIeS 2,859 82,859 102,915 141482 141482 167,211 Total 2023 167,211 167,211 COSTS OF RAISING FUNDS Unregtrlcted nds 2024 Total funds 2024 Total funds 2023 FundraSsing costs incurred 59,623 59,623 64,296 Tot812023 64,296 64,296 Page 10
STAR TRUST {EAST MIDLANDS) LIMITED (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 ANALYSIS OF GRANTS Grants to Instltutlons 2024 Total 2024 Total 2023 Grants to organisations 66.374 66,374 94,051 Total 2023 94.051 94,051 SUPPORT COSTS Total 2021 Total 2023 Accountancy Other costs Bank charges 1.200 14,415 870 1, 140 7.119 605 16.485 8,864 Total 2023 8.864 NET INCOMEI(EXPENDITURE} This is stated after chargIr. 2024 2023 Indep8ndent 8xamination costs 1,200 1, 140 During the year, no trustees received any remuneration (2023 - £NIL). During the year, no trustees received any benefits in kind (2023 - £NIL). During the year, no trustees received any reimbursement of expenses (2023 - £NIL}. DEBTORS 2024 2023 Other debtors 14,457 Page11
STAR TRUST (EAST MIDLANDS) LIMrrED (A company limlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 CREDITORS: Amounts falllng due wlthln one year 2024 2023 Trade creditors Accruals and def8rr8d income 2,570 2,500 1,014 9,540 5,070 10,554 Dafèrred income at th8 2024 ar and was £nll (2023 - £nil). Page 12
STAR TRUST (EAST MIDLANDS) LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 10. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENTYEAR Balance at 1 November 2023 Balance at 31 October 2024 Income Expendilure Unreslrlcted funds Gen&ra] Funds 67,353 171.170 (142,482) 96.041 STATEMENT OF FUNDS- PRIOR YEAR Balance al l November 2022 Balance al 31 October 2023 Income Expenditure General Funds 52,537 182,027 (167,21 IJ 67,353 Total of funds 52,537 182.027 (167,211) 67,353 SUMMARY OF FUNDS- CURREKf YEAR Balance al 1 November 2023 Balance at 31 October 2024 Income Expenditure G8n8ral funds 67,353 171,170 (142,482) 96.041 SUMMARY OF FUNDS- PRIOR YEAR Balance al l November 2022 Balance al 31 Octobei 2023 Income Expenditure General funds 52.537 182,027 (167,211) 67.353 Page 13
STAR TRUST (EAST MIDLANDS) UDArrED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 11. ANALYSIS OF NEf ASSEfs BEfwEEN FUNDS ANALYSIS OF NEf ASSETS BEfwEEN FUNDS- CURREKf YEAR Unrestrlcied funds 2024 Total funds 2024 Current assets Creditors due within one year 101,111 {5.070) 101,111 (5,070) 96,041 96,041 ANALYSIS OF NEf ASSEfs BEfwEEN FUNDS- PRIOR YEAR Unrestricte(Y funds 2023 Total funds 2023 Current assets Creditors due vmthin one year 77,907 (10,554) 77,907 (10.554) 67,353 67,353 11 RELATED PARTY TRANSACTIONS During the year purchases of £4,490 {2023 - £4.421} were made from Creative Minds, a business connected to S Warren. The balance outstanding on those transactions at thg year end was £Nil (2023 - debtor of £400). The trustees ensure Ihat all purchases are al market value or discounted. Page 14
Reglstered number: 08536549 Charlty number: 1153928 STAR TRUST (EAST MIDLANDS) LIMITED (A company limiled by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
srAR TRUST (EAsf MIDLpDS) ukqrrED (A company Ilmlted by guarantee) Col¥rErS Page Reference and admlnlslrative details of the charlty, Ils trustees and advlsers Truslees. report Independent examiner's report statement of financial aciivltles Balance sheet Notes to the financlal stalements 8-14
STAR TRUST (EAsf MIDLANDS) UMITED (A company Ilmlted by guarante8) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2024 Trustees L Cawdron S Hampson S Warren Company registered number 08536549 Charlty registered number 1153928 Registered off tce Tower House Lucy Tower Street Lincoln LN1 1XW Company secretary S Hampson Accountants Streets LLP Chartered Accountants Tower House Lucy Tower Street Lincoln LN1 1XW Page 1
STAR TRIIST {EAsf PAIDLANDS) LIMrrED (A company Ilmited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 The trustees present thelr annual report logether with the financial statements of the charity for Ihe Ye 1 November 2023 to 31 October 2024. The trustees ¢onfinn that the Annual Report and financial statements of the company comply with Ihe current statutory requirements. the requirements of the companys governing document and the provisions of the Statement of RecommerKled Practtce (SORP). applicable to charities preparing their accounts in aco)rdance with the FInarla] Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102). Since Ihe charity qualifies as small urwjer section 383, the strategic report rewired of methum and large companies under The Companies Act 2006 (Strategic Report atKI Directors Report) Regulations 2013 is not required. Structuro and governance The Star Trust (East Midlarrtls) Limited is an incorpx)rated charity established under th8 Articles of Association. The company is limited by guarantee arKI has no share captal. The trustees during the year and at 31 Octob8r 2024 were: L Cawdron S Hampson S Warren Trustees be recruited as arKI when required by the corrttnuing trustees by way of personal invitation. The trustees are mindful of their dulles in connection with the induction and training of new trustees and would follow the guidelines set down by the Charity Commission. New trustees would b8 referred lo Ihe Charity Commission website. They would be given copies of previous periocfs accounts prior to their attendance at a trustees. meeting and the founders vnuld proifjde a background Ixiefiro and be available to answer any questions. The trustees have the ability to invest funds as set ct in the Athles of Association. Objectlves and aclivities Star Trust (East Midland5) Ltd is a charity based in the East krlandS, run by local business owners and entrepreneurs, which support gocKI causes across the region. Using our members. business expertise and commercial initiative. we hotd events Ihroughout the year to raise money for locally-run charities that can often struggle lo secure public donations, simply because they lack the profile of national organtsations. The trustees shall hold the capital arKI in(x)me of the trust fund uw)n trust and make donations to such chariiable institution or institutions al such time or times and in such manners as to achieve the charty objectives. The trustees confirm that they have referred to the guidan contained in the Charity Commission's general guidance on public benefit when reviewing the Charis aims and [*)jttVeS atKJ in planning future actiwties and setting the grant making poIY for the pertod. Grants pollcy The trustees have a genera] policy of seekiThJ Io SUPFY)rt local charilies which benefit the Derbyshire, Nottinghamshire, Leicestershire, Lincolrtshire and Rutland area so far as ssIble although this not an exclusiv8 policy. The trustees are prepared to consider nalional appeals rf they feel that these have real merit. However. generally the trustees Yuld warrt to see a strow link to the local communities in the East Midlands. Page 2
STAR TRUST (EAsf MIDLANDS) LIMITED (A company Ilmoted by guarantee) TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2024 F5nancial review and fLiiure actlvl Income in the year amounted lo £171,170 and is almost entirely comprised of tickets, pledges, raffle and auction proce8ds from the fundraising events held during Ihe year. Past and future events can be found on our website. Income is recorded as restricted wh8re evertts are held for a specific cause. Detsils of donations paid are included In th8 notss to the accounts. The donakn'ons were to causes that tha trus18es felt were worthy of supporting and which fulfilled the objectives of the charity. Income exceeded resources expended by £28,688. At 31 October 2024 the net assets of th8 charlty were £96,041. Taxatlon Slar Trust (East Mldlands) Limited a registered charity and as such is exempt from taxation on tt8 income and gains to the extent that they are applied to its charitable purw)ses. Golng Concem After making appropriate enquiries, the trustees have a reasonable expectstion Ihat Ihe charity has adequate resources to continue in operational existence for the foreseeable futur8. For thls reason they contlnue to adopt the going concern basis in preparing the financial slatemenls. Reserves pollcy The trustees are committed to donating the net income of the charity over the medium term. The charity malntains sufficient reserves to continue to operate In the furth8ranc8 of its charilable objectlves. The trustees aim to hold reserves of approximately £20,000. Risk assessment The trustees have carried out an overall risk assessment to thntlty Ihe risks associated with Ihe operatlons of the charity and, where appropriate, have introduced controls and safeguards to mlnimise Ihe effects of those risks. Page 3
STAR TRUST (EAST MIDLANDS) LIMITED (A company Ilmlted by guarantee) TRUSTEES, REPORT (contlnued) FOR THE YEAR ENDED 31 OCTOBER 2024 Trustees. Responsibilities Statement The trustees (who are also directors of Star Trust (East Midlands) Limited for the purposes of company law) are responsible for preparing Ihe truslees. report and the financial slatements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepied Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a Irue and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that period. In preparing these financial statements. the trust88s are required to: select suitable accounting policies and then apply them consistentl, observe Ihe methods and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The truslees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable CoMpanS transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable Steps for the prevention and delection of fraud and other irregularities. Small Company Provislons This report has been prepared in accordance wit companies exemption. provisions applicable to companies entitled to the small This report was approved by t ustees on and signed on their behalf by: S Hampson Trustee Page 4
STAR TRUST (EAsf MIDLANDS) LIMITED (A company limlted by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STAR TRUST {EAST MIDLANDS) LIMITED (Ih8 'charlty') I report to the charlty trustees on my examination of the accounts of the charity for the year ended 31 October 2024. This report is made solely to the charivs trustees, as a body, in accordance ryth Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so Ihat I might state to the charitys trustees those matters l am required to state to them in an Indapendent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responslbility to anyone other Ihan the charity and the charity's trustees, as a body, tor my work or tor this report. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the charty (and its directors for the purposes of company law} you are responsible for the preparation of the accounts in accordance with the requirements ol the Companies Act 2006 ('the 2006 Act,). Having satislied myself that the accounts of the charity are not required to be audited under Part 16 of the 2008 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 {'the 2011 Acl,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I can confirm that no matters have come to my attention in connection with 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 of section 396 of the 2006 Act other than any requirement that Ihe accounts give a 'true and fairf view which is not a matter considered as part of an independent examinalion; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practi for accounting and reporhng by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102)]. I have no COnrnS and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounls to be reached. Signed: Datsd: Robert Anderson FCA Streets LLP Tower House Lucy Tower Street Lincoln LN11XW Page 5
srAR TRUST IEAST MIDLANDS) uMrrED (A company limtted by guarante8) STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Unrestrlcted funds Tolal funds 2024 Total funds 2023 Nole INCOME FROM: Other trading activities: Fundralslng 171,170 171,170 182,027 TOTAL INCOME 171,170 171.170 182,027 EXPENDITUREON: Raising funds Charitable activitles 59,623 82,859 59,623 82,859 64,296 102.915 TOTAL EXPENDITURE 141482 142,482 167,211 NET INCOME BEFORE OTHER RECOGNISED GAINS AND LOSSES NET MOVEMETrTf IN FUNDS 28.688 28,688 28,688 28,688 14,816 14,816 RECONCILIATION OF FUNDS: Total funds brought forward 67,353 67.353 52,537 91041 96,041 67,353 TOTAL FUNDS CARRIED FORWARD The notes on pages 8 to 14 form part of these finan(xal swements. Page 6
STAR TRUST (EAST MIDLANDS) LIMrrED (A company Ilmlled by guarantee) REGISTERED NUMBER: 08536549 BALANCE SHEET AS AT31 OCTOBER 2024 2024 2023 Note CURRENT ASSETS Debtors Cash at bank and in hand 14457 86,654 77,907 101,111 77,907 CREDITORS: amounts falling due within one year (5,070) (10,554) NET CURRENT AssErs 96,041 67,353 NET Assgrs 96,041 67,353 CHARITY FUNDS Unrestricled funds 10 96,041 67,353 TOTAL FUNDS 96,041 67,358 The charStys financlal statements have been prepared in accordance with the provisions appllcable to companies subject lo the small companies regime. The trustees consider that the charity Is entltled to exemption from the requirement to have an audit under the provlslons of sectlon 477 of the CompanTes Act 2006 (h8 Act.) and members have not required the charity to obtain an audit for the year In questlon In accordance wlth secllon 476 ot th8 Act. The trustees acknowledge their responsibilities f complying with the requirements of the Gompanies Act 2006 wilh respect to accounting records and t paratlon of financial statemenls, The financlal statements wer signed on their behalf, by. roved and authorised for issue by the trustees on and S Hampson Truste8 The notes on pages 8 to 14 fonn part of these financial statements. Page 7
srAR TRUST (EAsf MIDLANDS) UMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 ACCOUNTING POLICIES 1.1 Basls of prepardllon of financial statements The financial stalements have been prepared in accordance with Accounting and Reporting by Charities: Ststement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial ReportiThJ Standard applicable in the UK and Republic of IreLqnd (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial ReportirKJ Standard applicable in the UK and Republic of Ireland (FRS 102) arKJ the Companles Act 21Xi6. Star Twst (East Midlands) Limited meets the definition of a public benefft entity under FRS 102. Assets and liabilities are initially recognised at hislortcal cost or transaction value unless other4ViSO stated in the relevant accounting tx)licy. 1.2 Company status The charity rs a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charty beirYJ wound up. th8 liability in respect of the guarantee is limited to £10 per member of the charty. 1.3 Income Ail income is rn]Sed once the charity has enlitlement to Ihe income, it is probable that the Irome will be recaved and the amount of income receivable can be measured relhably. Other income is recxgnised in the period in which El is re1vable and to the extent the goods have been provided or on completn of the service. 1A Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economlc benefit lo a third paty, It is probable that a transfer of economic benetits will be required in settlement and the amount of the obligatson (xn be measured reSiably. Expenditure is Glfied by activ5ty. Costs of raising funds are the direct Costs Incurred in wlliThJ on the fundrak8ing events put on by the charity. Charitable actmties aTKI Governan costs are costs incurred on the charity's operations, including SUPFX)rt costs and costs relating lo the governance of the charity apportioned to charitable actimties. Grants payable are charged in the year when the olfer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which hav8 not been met at the year end are noted as a commttment, Iwt not accrued as eXpeIllUre. 1 Debtors Other debtors are recognised at the setuemenl amount after any (fjscount offered. Prepayments are valued at the amount prepaKI. Page 8
STAR TRUST (EAST MIDLANDS) LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 ACCOUNTING POLICIES (contlnued) 1.6 Cash at Bank Cash at bank represents cash held in current account facilities. 1.7 Liabilitles Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlemenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay lo settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 1.8 Flnanclal Instruments Th8 charity only has financial assets and financtal liabililies of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at Iransaction value and subsequently measured at their settlement value. 1.9 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectrves of the charity and which have not been designated for other pury)oses. FUNDRAISING INCOME Unrestrlcied funds 224 Total funds 2024 Total funds 2023 Fundraising everrts 171,170 171,170 182,027 Total 2023 182.027 182,027 Page 9
STAR TRUST (EAST MIDLANDS) UMITED (A company limited by gUaraee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Other costs 2024 Total 2024 Total 2023 Expenditure on raising voluntary income 59,623 59,623 64.296 Costs of ralslng funds 59,623 59,623 64,296 Charitable activities 82,859 102.915 142,482 142.482 167,211 Total 2023 167,211 167.211 COSTS OF RAISING FUNDS Unrestrlcted funds 21r24 Total funds 2024 Total fvnds 2023 Fundraising costs incurred 59,623 59,623 64.296 Total 2023 64,6 64,296 Page 10
STAR TRUST (EAST MIDLANDS) LIMrrED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 ANALYSIS OF GRAtrirs Grants to Instltulions 2024 Total 21Y24 Total 2023 Grants to organisations 374 66,374 94.051 Total 2023 94,051 94,051 suppoKr COSTS Total 2021 Total 2023 Accountancy Other costs Bank charges 1.200 14.415 870 1,140 7.119 605 16A85 8.864 Tota120Z3 8,864 NEf INCOMEI{EXPENDrruRE) This ts stated after charging". 2024 2023 Independent examination costs 1,200 1, 140 During the year. no Irustees received any remuneration (2023 - £NIL). During the year, no trustees received any benefits in kirKJ (2023 - £NIL). During the year. no trustees received any reimbursement of expenses (2023 - £NILI. DEBTORS 2024 2023 Other debtors 14,457 Page11
STAR TRusf (EAST MIDLANDS) LIMITED (A company IlmSted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 CREDITORS: Amounts falllng due wlthln one y 2024 2023 Trade creditors Accwals and deferred income 2,570 2,500 1.014 9,540 5.070 10,554 Deferr&J income at the 2024 year end was £nil (2023 - £nil). Page 12
srAR TRUST (EAST MIDLANDS) LIMrrED (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 10. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 1 November 2023 Balance at 31 October 2024 Income Expendllure Unrestrlcted lund8 General Funds 67A53 171,170 (142,482) 96,041 STATEMENT OF FUNDS. PRIOR YEAR Balance ai l November 2022 B81ance al 31 October 2023 Income Expendlture General Funds 52,537 182.027 (167,211) 67,353 Total of funds 52,537 182,027 (167,211) 67.353 SUMMARY OF FUNDS- CURRENT YEAR Balance at 1 Novernber 2023 Balance at 31 October 2024 Incomo Expendlture General funds 67,353 171,170 (142,482) 98,041 SUMMAgY OF FUNDS- PRIOR YEAR Balan al l November 2022 Balance al 31 October 2025 Income Expenrfiture General funds 52.537 182.027 (167,211) 67,353 Page 13
STAR TRUST (EAST MIDLANDS) UMITED (A company Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 11. ANALYSIS OF NEf ASSEfs BEtWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRETrif YEAR Unrestrlcted lunds 2024 Total lunds 2024 Current assets Creditors due within one year 101.111 (5.070) 101,111 (5,070) 96,041 96,041 ANALYSIS OF NEf ASSETS BETWEEN FUNDS- PRIOR YEAR Unrestricted funds 2023 Total funds 2023 Current assets Creditors due withln one year T7,907 (10,554) 77.907 (10,554) 67.353 67,353 12. RELATED PARTY TRANSACTIONS During the year purchases of £4,490 (2023 £4,421) were made from CrealtV8 Minds. a business connected to S Warren. The balance outstanding on these transactions at the year end was £Nil {2023 - debtor of £400), The trustees ensure that all wrchases are at market value or discounted. Page 14