2023-08-31-accounts - The Driver Youth Trust

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Reference and Admlnistradve Details
Independent Rcaminer's Report
Statement ofFinancial Activldes
Slnlsment ofCash Flows
Notes tothe Financial Slatemenls

Forthe sarended	31 As ust2023
			Un~	Endowment	Total
			funds	funds	funds
			2023	2023	2023
			8		6
Income from:
Investment income			33,865			31,471
Other trading acfivifies						18,626
Total income			33,065		33865	50097
Bqmnditum on:
Raising funds				19,592	19,592	24,163
Charfiabie acfivifies			54,143		54,143	564,748
Tohd expendihae			143	10502	73,735	585,911
Net (expenditure)	forthe year		(20478)	(19,592)	(39,870)	(538,814)
Nel (losses) on investments		10		(9,523)	(9,523)	(248,614)
Transfers between	funds		(459)	459
Net movement in funds			(20,737)	(28,656)	(49,393)	(787,428)
Reconcilia6on offunds:
Total funds brought	forwani		130,053	2,016,388	2,146,441	2,933,869
Total funds carried forward			109,316	1,987,732	2,097,048	2,146,441

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Drhfer Youth Trust e tothe Ananclal statemenls the rended 31Au ust 2023 Oetailed comawrattvaa forthe~ot	Snanctat cctivSes
	Vnnsstmded	Endowmerd	Total
	funds	funds	funds
	2022 f	2022 f	2022 5
Income from:
Investments	31,471		31,471
Other trading scNiiies	18,626		18,626
	24.163		24,163
	564,748		564,748
	588,911		588,911
Nst (uses) oninvestments Nst(e~)forthe year	(538,814)	(248,S14) (248,614)	(248,614) P87,428)
Transftns twtween funds	470,185	(470,1SS)
Net movement in funds	(SS,629)	P18,799)	P87,428)
Total funds brought forward	198,682	?735,187	2,93a869
Toad ftmds csnied fonseni	130,053	2016,388	2,146,441

3	Income from invesbnenln
		Umastricled	Endowment	Tolal	Tonri
		2023	2023	2023	2622
			6	K	E
	Dividends			33,865	31,471
				33,865	31,471
4	Income from other bading acgviTies
		Un~	Endowment		Toini
		2023	2023		2022
		8	8
	Educalion services				18,626
					18,626

					Cost of
					raising	C aritable	Support	Governance
					funds	acdvitias	costs f	Costs	Total 2023 6	Tolal 2022
Slalfcosh
Bank charges							6		6	125
Commurice6ons		and	IT				1,562		1,562	10,259
Ccnsubancy							6.993		6,993	11,478
CPD Delivery										11,813
eprecian							16409		1I(209	15,172
Independent	examiner's			fees				3,900	3WO	3.900
lvesbnera management				fees	19,592				19,592	24,163
Learner management spurning coals			syslem						22~
OIIice expenses							1,781		1,781	43,568
Premises costs
Training and	ecrubmem								95	27,501
Wehsite									1JB2	2,882
					19,5$2	22~	27,678	3rhhi	73,735	588,911
						27,678	(27,678)
						3,900	-	(3,900)
Total expenditure		2023			19,592	54,143
					24,163	564,748				588,911

				rafsing	CsagaMe
				funds	fctftfes			Tohl 2022f
Staffcosts						348,592		34tt592
Bank ctrargss						125		125
Communications		and IT				10,259		10,259
Currsuthncy						11,478		11,478
CPDatfrrery					11,813			11,813
Dsfrre station						15,172		15,172
fndatrerrdent	axsmfnsrtr		fees					3,900
I restmsnt management			fees	24,163				24,183
Learner marlagmnalrt syshm otrsn								59,883
QFca mpensss						43,568		43,568
Premises cosh						29,595		29,595
Training and		cuuimsnt				27,501		27,501
Tiarraf 5srrtrsistencs
Websfh						2,882		2,8S2
				24,163	71,676	489,172	3,900	58S,911
					489,172	(489,172)
							P,900)
				24,183	564,748			588,911

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					f
Sahries and wages					283,128
Social securily cosh					29,164
Empkiyer's	contribufion	to delined	conlribufion	pension schemes	28,306
Redundancy	psymerris				7,994
					348592

Intangible fbied assets
	Learning
	Management
		System	Tohd
		R	6
Cost
At the start ofthe year
Addkions in year
isposals inyear
Atthe end ofIhe year		48,627	48,627
Amorgsalicm
Atihe start ofthe year Charge forihe year		13,507 16~	13,507 16,209
At fim end ofthe year		29,716	29,716
Net book value
At the end ofthe ycmr		18,911	18,911
Atrhea!art ofthe year		35,120	35,120
All offim abave assets are used forcharfiabls purposes.
Fbced asset investmenls
		2023	2022
		6
Investments al fair value
Investment funds	1,893,819		1.867.932
	1	619	1,867,932
Movements
Market value atthe start ofthe year AddiTions alcost	1,867,932 344,168		2,819,087 377~
Oisposakr at carnjing value	(308,958)		(1,080,074)
Net gain/goes) on revslua0on		9,523	48,814
Market value atthe end cfihe year	1	893819	1,867932
Debtws
			2022
Prepayments			9,197
		4	9197

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13	Analysis of	net ass	ets between	funds
										Tohd
							Unmshtctsd		Endowment	funds
										6
	Fixed assets							18,911	1,893,619	1,912r530
	Net cunent assets							90,405	94.113	184,518
	Net assels atthe end ofthe year							109,S16	1,987,732	2,007,040
										Total
							Vn	strictsd f	Endowment	funds
	Fixed assets							35,120	1,867,932	1,903,052
	Nst cunent assets							94,933	140,450	243,389
	Net assets at the end ofIheyear							187,053	2,018,388	2,146,441
14	Movemenls	In funds
				Atthe	start	income	Expenditure			Atthe end
				ofthe	year	and gains	and losses		Transfers	ofthe year
								5
	Endowment	funds		2,016,388				(29,115)	459	1,987,7S2
	Unrestrictsd	funds:
	General funds							(54,143)	(459)	109,316
	Total unmshicled		funds	130053				54,143	459	109316
				2,146,441
	Movements	in funds	for8m (prior year)
				At the	shrrt	Inoome and	Expenditure			At the end of
				ofthe	year 8	QBlns	and kxrses		Transiem f	the year 8
	Endowment	funds		2,735,187				(248,614)	(470,185)	2.016.388
	Unreshided	funds:
	General funds			198,682		50.097		(588,911)	470,185	130,053
	Tolal un stricted funds			198682		50,097		588,011	470,185	130,053
	Total funds			2,933,869		50,097		837,525		2,146,441

15	Reconcglatton ofnet income I(expenditure)	Reconcglatton ofnet income I(expenditure)	to net cash	flaw from operating	flaw from operating	ccVvtthrs
						2023
						6
	Net income I(expenditure) forthe reporgng		period			(49,3$3)	(787.428)
	(as per the stalsment ofgnancial ccetthrs)
	Depreciation					16,209	15,171
	(Gainsjl losses on investments					9.523	248,614
	Interest, rent and dividends from invesbnerris					(33,865)	(31,471)
	(Irxxease)l decrease in debtors					4,741	3,741
	Increasei (decrease) in creditors					1,101	41,691
	Net cash provhted by I(used in) operating acgvTries						593,064
16	Analysis ofcash and cash equivalents
	Cash at bank and in hand			248,444		(55,231)	193,213
	Total cash and cash equivalents			248~		S5831	1$3gt3
	Anelyshr ofcash and cash equivalents	(prior year)
				At the siart of			Atthe end oi
				the year f	Cash tkers 6		the year
	Cash at bank and in hand			114,366		134,078	248,444
	Total cash and cash equivalents			114,366		134,078	248,444