SHARLSTON & STREETHOUSE YOUTH FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS for the period ended 31 December 2022
SHARLSTON & STREETHOUSE YOUTH FOUNDATION
| Legal and administrative details Trustees’ report Statement of financial activities Balance sheet Notes to the accounts |
CONTENTS Page 1 2 & 3 4 5 6 - 8 |
|---|---|
SHARLSTON & STREETHOUSE YOUTH FOUNDATION
LEGAL AND ADMINISTRATIVE DETAILS
Status
Registered Charity No 1162766
Trustees
C R Moorby A E Moorby W A Chalkley J Chalkley
Principal Address
Metic House Ripley Drive Normanton WF6 1QT
Patron and Honorary Life President
Neil Fox MBE
Bankers
Santander UK plc 4 Upper Kirkgate Wakefield WF1 1SP
Accountants
B M Howarth Ltd West House King Cross Road Halifax HX1 1EB
1
SHARLSTON & STREETHOUSE YOUTH FOUNDATION
TRUSTEES’ REPORT
for the period ended 31 December 2022
The Trustees present their report and the financial statements for the period ended 31 December 2022. The unaudited financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the Charity’s constitution, applicable law and the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP FRS102).
Administrative Information
The names of the Trustees and their advisors during the period, together with the principal address, are shown on page 1.
Constitution
The Charity is constituted as a Charitable Incorporated Organisation (“CIO”) under the Constitution dated 13 July 2015.
The CIO was registered by the Charity Commission on 21 July 2015.
Trustees
The Trustees during the period and their initial term of appointment are as follows:
- Roy Moorby 6 years - Ann Moorby 5 years - Wayne Chalkley 4 years - Julie Chalkley 3 years
Method of Election of Trustees
Apart from the first Charity Trustees, every appointed Trustee must be appointed for a term of 3 years by a resolution passed by a properly convened meeting of the Charity Trustees. In selecting individuals for appointment as Charity Trustees, the Charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
Objectives
The primary purpose of the Charity is to provide or support recreational and leisure time activities for young people living in the Sharlston and Streethouse areas of Wakefield and to help develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. The Trustees confirm that they have considered the guidance provided by the Charity Commission on public benefit when reviewing the Charity’s objectives and activities.
The Trustees raise funds through donations and fundraising events at such times as they encounter deserving organisations whom they feel obliged to help. As such, it is not foreseen that the Charity will creative significant cash reserves.
The Trustees meet annually and at other times as may be necessary to consider the finances of the Charity and to discuss donations.
Achievements and Performances
The Charity continues to have regard to its primary purpose. The Charity has identified a number of local organisations during the period which it will assist during 2023. No administrative costs have been incurred.
2
SHARLSTON & STREETHOUSE YOUTH FOUNDATION
TRUSTEES’ REPORT (continued)
for the period ended 31 December 2022
Risk Assessment
The Trustees do not consider the Charity is subject to any substantial risks beyond the liabilities disclosed in the financial statements.
Financial Review
The Charity generated a net surplus for the period of £3,233.
Reserve Policy
The Trustees consider the reserves policy to be satisfactory. When additional funds are raised these are likely to be used soon after receipt to further support the families benefitting from the Charity.
Plans for the Future
It is the Charity’s intention to continue working with local organisations identified as requiring specific financial help.
Trustees’ Responsibilities
The Trust Deed requires the Trustees to prepare annual accounts. Generally accepted accounting principles require these accounts to:
-
be prepared on the basis of suitable accounting policies which are consistently applied
-
include reasonable and prudent judgements and estimates
-
follow applicable accounting standards and the Charities SORP; disclosing and explaining any departures in the financial statements; and
-
prepare the financial statements on a going concern basis unless it is inappropriate to assume that the Charity will continue in operation.
The Trustees are responsible for keeping accounting records which are such to disclose, with reasonable accuracy, the financial position of the Charity at any time, and to enable them as Trustees to ensure that the financial statements comply with Charity law. The Trustees are also responsible for safeguarding the Charity’s assets, and hence for taking reasonable steps to the prevention and detection of fraud and other irregularities.
Approved by the Trustees on 13[th] September 2023 and signed on its behalf by:
C R Moorby
3
SHARLSTON & STREETHOUSE YOUTH FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| Note | £ | £ | |
| Incoming Resources | 3 | ||
| Income from: | |||
| Donations | 5,000 | 5,000 | |
| Other trading activities | - | - | |
| 5,000 | 5,000 | ||
| Resources expended | 4 | ||
| Fundraising trading costs | - | - | |
| Charitable activities | 1,767 | 3,000 | |
| 1,767 | 3,000 | ||
| Net income | 3,233 | 2,000 | |
| Total funds brought forward | 14,761 | 12,761 | |
| Net funds carried forward | 17,994 | 14,761 |
All of the above operations are continuing and derive from unrestricted activities.
The notes on pages 6 to 9 form part of these accounts.
4
SHARLSTON & STREETHOUSE YOUTH FOUNDATION
BALANCE SHEET AS AT 31 DECEMBER 2022
| Note Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year 6 Total net assets Funds of the Charity Unrestricted funds Total funds |
2022 Unrestricted funds £ - 17,994 - 17,994 17,994 17,994 |
2021 Unrestricted funds £ - 14,761 |
|---|---|---|
| - | ||
| 14,761 | ||
| 14,761 | ||
| 14,761 |
Approved by the Trustees and authorised for issue on 13[th] September 2023
C R Moorby
The notes on pages 6 to 9 form part of these accounts.
5
SHARLSTON & STREETHOUSE YOUTH FOUNDATION
NOTES TO THE ACCOUNTS
1. Accounting Policies
(a) Basis of Preparation
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011.
(b)
Going Concern
The Trustees have reasonable expectation that the Charity has adequate resources to continue in existence for the foreseeable future and that the going concern basis of accounting is appropriate in preparing the financial statements.
- (c) Recognition of Income
These are included in the Statement of Financial Activities (SoFA) when:
-
The Charity becomes entitled to the resources;
-
It is more likely than not that the Trustees will receive the resources; and
-
The monetary value can be measured with sufficient reliability.
(d)
Recognition of Expenditure
-
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.
-
Charitable activities comprise those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries together with any necessary indirect costs.
(e) Donated Services and Facilities
Donated services and facilities are included in the SoFA when received at the value of the gift to the Charity provided the value of the gift can be measured reliably.
(f) Offsetting
There has been no offsetting of assets and liabilities, or income and expenses.
(g) Tax Reclaims on Donations and Gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
(h) Volunteer Help
The value of any voluntary help received is not included in the accounts.
6
SHARLSTON & STREETHOUSE YOUTH FOUNDATION
NOTES TO THE ACCOUNTS
2. Fund Accounts
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.
(a) Basic Financial Instruments
The Charity accounts for basic financial instruments on initial recognition.
(b) Creditors
The Charity’s creditors are measured at settlements amounts less any available trade discounts.
3. Analysis of Income
| 3. Analysis of Income |
||||
|---|---|---|---|---|
| Donations: Donations and gifts Gift Aid Total Income 4. Expenditure 4.1 Analysis of Expenditure Expenditure on Charitable Activities Grants Total Expenditure |
2022 Unrestricted funds £ 5,000 - 5,000 2022 Unrestricted funds £ 1,767 1,767 |
2021 Unrestricted funds £ 5,000 - 5,000 2021 Unrestricted funds £ 3,000 |
||
| 3,000 |
The charity incurred no support or governance costs during the period.
4.2 Analysis of Grants Paid (included in cost of charitable activities)
| Analysis Youth development |
2022 Grants to Institutions £ 1,767 |
2021 Grants to Institutions £ 3,000 |
|---|---|---|
7
4.3 Grants made to Institutions
| 2022 | 2021 | ||
|---|---|---|---|
| Total | Total | ||
| amount of | amount of | ||
| grants paid | grants paid | ||
| £ | £ | ||
| Name of Institution | Purpose | ||
| Streethouse Primary School | Breakfast Club | - | 3,000 |
| Streethouse Cricket Club | Supporting Junior Cricket | 1,267 | - |
| West Bretton Cricket Club | Supporting Junior Cricket | 500 | - |
| Total grants to institutions in | reporting period | 1,767 | 3,000 |
5. Staff Numbers
The Charity had no employees during the period.
6. Creditors
| Creditors | ||
|---|---|---|
| Amounts falling | Amounts falling | |
| Analysis of Creditors | due within one | due within one |
| year | year | |
| 2022 | 2021 | |
| £ | £ | |
| Trade Creditors | - | - |
7. Transactions with Trustees and Related Parties
- 7.1 Trustee remuneration and benefits
None of the Trustees have been paid any remuneration or received any other benefits from an employment with the Charity or a related entity.
- 7.2 Trustees’ Expenses
No Trustee expenses have been incurred.
8