Re£i5tered Number. CE012409 Charlty Number. 1175866 BERKSHIRE YOUTH TRUST (A Charitable Incorporated Organisation) Unaudfted Trustees. Report and Financial Statements For the Year Ended 31 March 2024 BEfèKsHifiE YOUTH IIPo8e
BERKSHIRE YOUTH TRUST (A Charitable Incorporated Organisation) CONTENTS Page Reference and administratlve detslls of the drIty, Its trustees and advlsers Trustees, Report 4-8 Independent Examinerfs Report Income and expendlture atcount io Balance Sheet li Notes to the flnandal statements 12-14 2 IPa8e
BERKSHIRE YOUTH TRUST IA Charitable Incorporated Organisation) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY ITS TRUSTEE5 AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees: R.G. Smee M. Farrant C. Smee Lord St John of Bletso Company reglstered number- CE012409 Charlty Registered nuniber- 1175866 Re8lstered Offi Field Seymour Parkes. the Old Coroners Court. l London Street. PO Box 174, RÈadin& Berkshire, RGI 4QN. Patron Lord St John of Bletso Solicitors Blandy & Blandy, l Friar Street. Reading RGI IDA Independent Examlner PJA Greenwood FCA , Wheatlands Farm. White Horse Lane. Finchampstead, RG40 4LZ 31Pa8e
BERKSHIRE YOUTH TRUST (A Charitable Incorporated Organi&ition) (Registered Nufflber: CEO 12409) (Charity Nurnber. 1175866) TRUSTEES ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2024 The Annual report serves the purposes of both aTrustees' report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's 80vernin8 document and the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FR5102) (effective l January 20191. Since the Company qualifies as small under section 382, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directorfs report) regulations 2013 is not required. Our Airns and Objertives Objectives The objects of the Berkshire Youth Trust (Byr) as set out in its constitutional documents is the acquisition and provision of facilities to charitable operational groups, including Berkshire Youth IBYI, for the education and in the interests of the social welfare and recreation of children and young persons resident in Berkshire. The main focus is to promote and develop their physical, social, spirttual and mental capabilities. Nothing in the constitution of the CIO authofises an application of the property for purposes which are not charitable. Aims The objectives will be achieved by working with Local Authorities in Berkshire to identify town centre buildings which are suitable for conversion to provide high quality -inspired facilitie5", attractive to voung people and which:_ offer a broad ran8e of appropriate activities within a modern environment. provide a wide range of personal and social development opportunities to help and support young people in their transitiorn from adolescence to adulthood. where appropriate, offer quality professional support based on individual need5 to enable further achievement. where appropriate. promote positive intervention within the Agenda for Earty Intervention and Prevention (EIPI. create opportunities for young people to en8a8e with their community by undertaking volunteering activities for the benefit of the community in their locality. offer training and learning qualifications in the provision of Youth services to young people.
Partnerships Acquisltion, refurbishment fitting out and the long-term maintenance and upgrading of these buildings will be funded in part bv:" Maintenance clauses underthe lease; Local Authorities, Institutions and supportive local companies: and Other educational establishments. wherewe create opportunities for their pupils to engage in their spare time with young people less fortunate than themselves for personal advancement, opportunities to volunteer and gain qualifications in youth work. The daily operation of these facilities are currently undertaken by a related Charity. Berkshire Youth (BY) la company limited by guarantee Registered number 04493501, Charity number 1106341). Our achievements to date The purchase of a 50% interest in the Waterside Centre. Walde8rave Place, Newbury RG 14 IDF. The building is owned 50150 by Berkshire Youth Trust {BYT) and West Berkshire Council (WBI. The building ha5 been completely refurbished and is l(MYA leased to Berkshire Youth to offer their much needed services to youngsters in the local communities. Berkshire Youth enjoy an advantageous lease agreement with BBY Waterside Limited and West Berks Council to occupythe buildingfor a temi of 35 years from completion of the purchase for a rent of £5,000 per annum. The BYT income and expenditure forthe yearto 31 Marth 2024 is included in the Income and Expenditure Account at pa8e 11. Ensurln8 our work dellvers our aims We review our aims, objectives and activities each year. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewin8 our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aim5 and objertives they have set. How our actlvltle8 deliver public benefit All our charitable activities focus on providing high quality inspired club facilities for young people aged 8-18 years to enable providers of youth services, such as Berkshire Youth. to offer. high quality and safe environment for young people. These state-of-the-art facilities offer an alternative to young people, particularly those that are vulnerable to the lure of gang culture and the financial rewards from criminal activity. In order to achieve the best opportunities and outcomes for young people the facilities will be managed within a community model. The local community will be allowed access to the buildin8 through user groups who work with different sectors of the community from youn8 children to old people for social and other community events. This will ensure that the faciltties are used to capacity. Thi5 will broaden 51Pa8e
the experience for members of the community in their particlpation as a member of a user group. as a young person who is a memberofthe club or as a volunteer. Future Fundraising Opportunities Local Authorities have been starrfed of cash for the provision of youth services. except for the most extreme cases. Against this backdrop. Local Authorities have relied upon the providers of youth services, such as 8erkshire Youih, to provide the services they are no longer able to offer. Providers of youth service5. such as Berkshire Youth. rely upon annual grants and donations in order to meet their operational costs. They are not able to raise fundin8 for capital investment or to endow their survival for the lon8 term. Whilst Local Authorities have no cash for fvnding youth projects. they own significant underutilised properties, typically in town centres. which potentially create the opportunity to develop state-of-the- art club facilities for young people. BYT and ils network seek to acquire such properties lo lease to operational youth groups. Strurture, Governance and Management Governlng Document The organisation is a charitable incorporated organisation incorporated and registered as a charity on 21 July 2018. The company was established under Constitution which established the objerts and powers of the charitable company and how it is governed. In the event of the company being wound up members are not required to contribute further amounts to the charity. Recrultment and Appointment of Charity Trustees The director5 of the company are also the charitytrustees for the purposes of charity law and under the compan(s Constitution once appointed remain in place until they retire or are removed in accordance with the Constltution. Any retiring director is eligible for re-election at the next Annual General Meeting. All charity trustees provide their time voluntarily and received no benefits from the charity. The trustees seek to ensure that the needs of youn8 people are appropriately reflerted throu8h the diversity of the trustee body and its network. Obllgatlons of CharFty Truste The main documents which set outthe operational framework for the charity including the Constitution and the latest published report and accounts. is made available to all new and continuing Trustees. The Charity Commission's guide "the Essential Trustee" is distributed lo all new trustees along with the Constitution. Risk Management Frorn time to time the Trustee5 conduct a review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Significant external risks to funding have led to the development of a strategic plan which will allow for the diversification of fundin8 and activities. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure 61Pa8e
operators of the ChariWs properties put in place appropriate policies for safeguardin8,' health and safety of members of the club5, Staff, volunteers, and visitors to the facilities.. and data protertion. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. Or8anlsational Structure Berkshire Youth Trust Trustees meet quarterly and are responsible for the strategic direction and policy of the charity. At present the Committee consists of four members relevant to the current work of the charitv. Company law requires the Tnjstees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance Sheet date and of its incoming resources and application of resource5, including income and expenditure. for the financial year. In preparin8 those financial statements. the management committee should follow best practice and". selert suitable accounting policies and apply them consislently; and make judgements and estimates that are reasonable and prudent- and prepare the financial slaternents on a going concern basis unless it is not appropriate to assume that the company will continue on that basis. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy the financial position of the charilable company, to enable them to ensure that the financial statements comply with the Companies Act 1985. The Trustees are also responsible for safe8uarding the assets of the charitable company and hence for taking reasonable step5 for the prevention and delection of fraud and other irregularitie5. Trustee Management Commltlee Members of the Manogement Committee, who are directors for the purpose of company law and trustees for the purpose of charity law. who served during the year and up to the date of this report are set out on page 3 Investment Pollcv A prudent sum will be retained in reserves each year. Most of the charit(s funds are raised to be spent on projects so in the short term there will be few funds for longerterm investment. However, the longer term plan is to raise significant sums in advance for new projetts and to endow Berkshire Youth so that it can continue to provide serrfices to the young people of Berkshire. When and if substantial funds become available the Trustees will take advice from competent investment advisors for the purposes of long-term investment. Grants. donations and other sums received in advance will be invested on the money market. Reserves Policy The Management Committee has examined the charitrfs requirements for reserves in light ofthe main risks to the or8ani5ation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months ofthe operational expenditure. Between £15.IXM) to £30,LXY) is maintained in general funds. The reserves are
needed to meet the working capital requirements of the charity and the Management Committee are confident that at this level they would be able to continue the current activities of the charity. Approve the Management Committee on l2.4/L.I...2O24 and signed on its behalf by.. Rogor Guy Smee (Trustee) 81Page
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Exarninees Report to the Truslees of Berkshire Youth Trust ('the Company'> I report to the charity Trustees on my examination of the attounts of the Company for the year ended 31 March 2024. Responslbllltles and Basls of Report As the Trustees of the Cornpany land its directois for the purposes of company lawl you are resnsIble for the preparation of the accounts in accordance with the requirements of ihe Companies Act 20061'the 26 Act'l. Having satisfied myself that the accounts of the Company are rM)t required to be audited under Part 16 of the 26 Act and are eligible for independent examination. I report in respect of my examination of the Company's account5 carried out under section 145 of the Charities Act 2011 (the 2011 Act')- In carryin8 Out my examination I have followed the Directions given by the Charity Commission under section 1451511bl of the 2011 Art. Independent Examlnerfs Staternent Since the charity's gross income is more than £250.(NJ) your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualifd to undertake the examination because l am a mernber of The Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. I have completed my examination. I confirni 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 Company as required by Section 386 of ihe 21YX> Act: or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts gNe a true and fairf view which 15 not a matter considered as part of an independent examinaiion. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recomrnended Practice for accountin8 and reporting by charities lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021]. I have no concerns and have come across no other matters in connection with examinatTron to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Company's Trustee5. ?s a body, in accordance wrth Part 4 of the Charrties IAccounts and Reports) Regulations 21KJ8. My work has been undertaken so that l rnbght state to the Company's Trustees those matter51 am required to State to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not a¢¢ept or assume re5p)nsibility to anyone other than the Company and the Company'5 Trustees as a body, for my work or for this report. Dated: 12 Ar Patrick John Aberneithy Greenwood Fellow of Ihe Institute of Chartered Accountants in England & Wales Wheatlands Farm White Horse Lane Finchampstead Berks RG40 4LZ
BERKSHIRE YOUTH TRUST (A Charitable Incorporated Organisation) INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrirted Restricted Funds Funds 21n4 2024 Total Funds Z024 Totsl Funds 2023 INCOME Voluntary Income-Donations Grants Investment 26.974 605 605 216 TOTAL INCOME 27,190 CHARITABLÉ ACTWMES Bank Charges Sundry expenditure Governance- Legal & Professional 60 120 72 120 TOTAL EXPENDITURE 172 SUMMARY OF FUNDS NET INCOME 425 425 27.018 FUNDS BOUGHT FORWARD 621.668 60D.293 1.221,961 1,194,943 FUNDS CARRIED FORWARD 622,093 6,293 1,222.386 1,221,961 101 Pa8e
BERKSHIRE YOLITH TRUST (A Charitable Incorporated Organisation) BALANCE SHEEtASAT 31 MARCH 2024 Z024 2023 FIXED ASSETS CURRENT ASSETS Lon8 tem) loans to B8Y IWaterssdelLimited Cash at bank Total Current Assets 1.193,725 28,662 1,222,387 1.193,725 28.237 1.221,962 CreditOf5: Amounts fallln8 due within one year Net Current Assets 1,222,387 1.221,962 NET ASSETS 1221387 1,221,962 CHARITABLE FUNDS Restricted Funds Unrestricted Fund 622.093 6(NJ,293 621,668 600,293 Share Capital TOTAL FUNDS 1.222.387 1,221,962 The financial statements were approved and authorised for issue to the Trustees on 1z.mswO24 and signed on their behalf by: Roger Guy Smee- Dlrertor The notes on pages 13 to IS form part of tse financial statements 11 IPage
BERKSHIRE YOUTH TRUST (Formerly Bradfield Berkshire Youth) IA Charitable Incorporated Organisation) Notes form5n8 part of the FinancDal Statements for the year ended 31 March 2024 l. Accounting Policies The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year. {a} Basls of accounting The financial statements have been prepared in accordance wlth the Charities SORP IFRS 102)- Accounting and Reporting by Charitie5: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021 {effective l January 2019). Berkshire Youth Trust meets the definition of a public benefit entity under FRS 102. A55ets and liabilities are initially reco8nised at historical cost or transaction value unless othelse stated in the relevant accounting policy. Ib} Fund accountin Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Unrestricted funds include a revaluation reserve representin8 the restatement of investment assets at market values. Designated funds are unrestricted funds earmarked bythe Mana8ement Committee for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the temis of an appeal. (cl Incoming resources All incoming resources are included the statement of financial activities when the charity is entitled to, and virtually certain to receive. the income and the amount can be quantified with reasonable accuracy. The following policies are applied to particular categories of income: Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activilies when receivable. Grants, where entitlement is not condilional on the delivery of a specific performance by the charity. are recognised when the charity becorne5 unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Investment income is included when receivable. 12 |Pa8e
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. Id) Resour expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates". Costs of generating funds comprise the costs associated with attractin8 voluntary income. Charitable expenditure comprises ihose costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It indudes both costs that can be allocated directly to such activities and those costs of an indirect nature necewry to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked to the strategic management of the charity. All costs are allocated between expenditure categorie5 on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated direttly, others are apportioned on an appropriate basis. (e) Fixed Assets Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £l.(K)O are not capitalised. Oepreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, which in all cases is estimated at 4 years. Impairment reviews are carried out as and when evidence comes to light that that the recoverable amount of a functional fixed asset is below its net book value due to damage, obsolescence or other relevant factors. Ifj Investments Investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the Statement of Financial Activities. Investment in the subsidiary is included at cost plus any long term amounts due by the subsidiaries. Any provisions for diminution in value of subsidiaries or amounts due by subsidiaries deemed to be irrecoverable- and any surpluse5 accruing lo the charity as a result of the sale of the shares of the subsidiaries or their assets: are taken to the Statement of Financial Activities. 2. Flxed Asset Investment The fixed asset investment relates to one ordinary share of £1 in BBY Waterside Limited, a companv incorporated in En8land, company number 10990928. 3. Lon8 Terni Loans to 8BY Waterslde Limlted Long Term Loans of £1,193,725 {2023 £1,193,725) to 8BY Waterside limited, a company wholly owned by the Trust were made to fund the acquisition and refurbishment of the Waterside Centre. Newbury, 131Pa8e
Berkshire for the purposes of providing preventative youth services for under privileged youn8 people in West Berkshire. These loans are unsecured. interest free and have no fixed date for repayment. The intention of the Trustees is that in due course these loans will be converted into share5 in the 88Y Waterside Limited. 4. Summary of Funds 2024 2023 Unrestrlrted Funds: Balance brought forward Income Expenditure Transfer to Restricted Funds Balance carrled forward 621,668 605 594.650 27,1 -172 622,093 621.668 Restrlcted Fund5 Balance brough forward Income Expenditure Transfer from Unrestricted Funds Balance carried forward 600.293 6.293 61X)293 6(Kl.293 Total Funds Balance brought forward Income Expenditure Transfer to Restricted Funds Balance carried forward 1,221,961 605 1.194.943 27,190 -172 1.222,386 1,221,961 Unrestrirted Funds are the funds which the Trustees arÈ free to use for the Trusts Charitable Objectives. 5. Related Party Transartions Donations received from trustee5 for the year ended 31 March 2024 is £Nil12023: £Nill. During the year to 31 March 2024 the Trust made interest free unsecured loans of £Nil to BBY Waterside Limited12023- £120,000). These loans are to be converted into shares in BBY Waterside Limited in due course. At the year end. the Trust was owed £1.193,725 (2021 £1,193,725) by BBY Waterside Limited. 141Page