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2025-03-31-accounts

Trust Leeds

Charity number 1182738

A company limited by guarantee number 11331021 Authorised and regulated by the Financial Conduct Authority, number 973871

Annual Report and Financial Statements

for the year ended 31 March 2025

Trust Leeds

Annual Report and Financial Statements for the year ended 31 March 2025

Contents Page
Trustees' report 2 to 9
Examiner's report 10
Statement of financial activities 11
Balance sheet 12
Notes to the accounts 13 to 18

Prepared by West Yorkshire Community Accountancy Service CIO

1

Trust Leeds

Trustees' report for the year ended 31 March 2025

Reference and administrative details of the charity, its trustees and advisors

The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates

Name Position Dates Sandra Needham Chair Cath Follin Vice Chair Gary Wilson-Poe Treasurer Sally-Anne Greenfield Yann Nicholas Choiniere Company secretary Natasha Babar-Evans Alissia Deane Ian McAleese Lisa Jones-Tinsley Charity number 1182738 Company number 11331021

Retired 25 March 2025 Appointed 15 September 2025 Appointed 15 September 2025 Appointed 15 September 2025

Registered in England and Wales Registered in England and Wales

Financial Conduct Authority number 973871 Registered and principal address Bankers 47-49 Austhorpe Road Triodos Leeds Deanery Road LS15 8BA Bristol BS1 5AS

Independent examiner

Claire Welling Stringer House 34 Lupton Street Leeds LS10 2QW

West Yorkshire Community Accountancy Service CIO

Structure, governance and management

The charity is a company limited by guarantee and was formed on 26 April 2018. It is governed by a memorandum and articles of association. The only persons eligible to be members of the charity are its trustees. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £1.

Method of recruitment and appointment of trustees

The trustees of the charity are also the directors for the purposes of company law and are appointed by a resolution passed at a properly convened meeting of the Trustees.

2

Trust Leeds

Trustees' report (continued) for the year ended 31 March 2025

Chair's Introduction

As Chair of Trust Leeds, I am pleased to report that the organisation has had a successful year both in financial terms and in providing a variety of activities that have helped people and communities in Leeds and beyond.

I would like to thank our Chief Executive, Liza Kellett, for her drive and enthusiasm that ensure the organisation thrives and for her ability to develop a small but effective team.

Trust Leeds would not exist without the generosity of individual sponsors and supporters, the input of trustees and volunteers and the public bodies, who contracted with Trust Leeds to allow people to “be their own bosses” in their own self-reliant groups or small enterprises.

Objectives and activities

The charity's objects

The objects of the charity are the furtherance of such charitable purposes (charitable under the law of England and Wales) for the benefit of the public as the Trustees see fit from time to time in the area of benefit in particular but not limited to:

(a) the prevention or relief of poverty;

(b) supporting the work of charities or furthering charitable purposes which advance good citizenship or community development in particular promoting community capacity building and urban and rural regeneration including the provision of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help:

(c) the advancement of education by providing support to community groups that seek to advance the education and skills of persons at risk of financial exclusion and poverty; and

(d) the relief of those in need by reason of age, ill-health, disability, financial hardship, unemployment or other disadvantage.

The charity's main activities

Trust Leeds works – and walks – alongside people, helping them to improve their lives by building financial independence, confidence and skills.

We do this in three ways:

Public benefit statement

In setting our objectives and planning our activities our trustees have given serious consideration to the Charity Commission’s general guidance on public benefit. This was reviewed and confirmed at a meeting of the Board on 12.05.25, where it was agreed that:

Trust Leeds is furthering its purpose through activities targeted exclusively at communities suffering from multiple deprivation.

3

Trust Leeds

Trustees' report (continued) for the year ended 31 March 2025

Objectives and activities (continued)

Public benefit statement (continued)

The public benefits of our work include:

Our Brand

Nurturing confidence. Growing enterprise.

Our Purpose

Trust Leeds addresses poverty, social isolation and financial exclusion by working - and walking - alongside enterprising people and communities.

We use the global models of Self-Reliant Groups and micro-finance to help people to improve their lives. By supporting people to develop skills, confidence and financial independence, they improve their own health, wealth and wellbeing.

Our Values

Ambitious, collaborative, compassionate, empowering.

The charity’s main objectives for the period

The charity’s main objectives for the next three-year period were discussed at a Board Strategy meeting on 29th May, 2024. At this strategic review, the following key organisational objectives were re-affirmed:

Structure and Management

The Board’s two committees (Finance & Loans; and Governance, HR & fundraising) continued to underpin the quarterly Board meetings, with the Finance & Loans Committee pleased to see our regulated lending starting this year following the previous year’s approval by the Financial Conduct Authority.

With our new Chair, Sandy Needham, OBE, DL appointed last year, the main governance focus was on reviewing and reconfirming our purpose and key objectives, and developing our Board of Trustees in line with our terms of office. Promoting trustee vacancies on our website and social media, we were pleased to get a variety of expressions of interest from self-reliant group members and the broader business community. By the year-end we had invited three prospective trustees to observe the next Board meeting, with a view to appointing them at the September 2025 meeting.

Membership of Responsible Finance (the trade association for Community Development Financial Institutions), Voluntary Action Leeds, and other infrastructure bodies, helps the Board to maintain appropriate skills, perspectives and knowledge-base to fulfil its governance and leadership roles. This is also ensured through: formal and informal training; a partnership with three other charities developing the self-reliant group model; and professional expertise from the West Yorkshire Community Accounting Service.

4

Trust Leeds

Trustees' report (continued) for the year ended 31 March 2025

Objectives and activities (continued)

Pay and Remuneration

All Trustees give their time freely and none receive remuneration. Trustees are encouraged to claim expenses, and the costs of Board meetings are negligible thanks to in-kind support from Clarion Solicitors who host Board meetings, with Committee meetings held online.

Trust Leeds had 2.3 full-time equivalent employees during this period, and their remuneration was set by the Board. The Governance & HR Committee monitored and supported the Annual Review programme, and undertook exit interviews with staff when contracts ended.

Achievements and Performance

The Key Performance Indicators and achievements included:

2 To nurture 9 new Self-Reliant Groups.

One ‘Be You Own Boss SRG’ member explained how much she’d gained from the programme: “This was the best course I’ve ever attended about business. I’m so glad I’ve found you! I’ve gained so much knowledge...I was amazed how many people have transformed through this course...You’ve done more than the course, you change people lives.”

Thanks to funding from Leeds City Council’s Asset Based Community Development team, we were able to create two focussed projects including a Be Your Own Boss Day Camp, for people with autism/ADHD.

One member, Teresa who has autism and ADHD, commented, “It was great to have a specific day for people who don’t fit the usual boxes - other support for sole traders doesn’t work... I’ve booked to do the BYOB 12-week programme too because I want to move on from having an expensive hobby to being a sole trader.”

A Day Camp designed to support women facing menopause challenges was also funded by the ABCD project, and this grew into its own self-reliant group, one member commenting:

“It’s wrong that we still don’t have good information about the menopause and you have to fight with your doctor for your symptoms to be recognised. But it’s right that we’re coming together to learn for ourselves and support each other.”

3 To invest 12 micro-loans

Progress: Whilst it took longer than hoped to gather momentum and interest in our micro-finance offer, we were delighted to make 3 new loans this year, and build a healthy pipeline for next year.

One kitchen-table entrepreneur, Rita, was awarded a loan of £1,000 to start her new enterprise selling designer spectacles. “Thanks a million for helping get me the loan. It means I can get better equipment and the environmentally friendly frames I want: a huge boost for my business efficiency and to give me a unique selling proposition. Thank you so much.”

Another borrower used her loan to set up a catering business, selling home-made suppers inspired by recipes from her native Indonesia every Friday evening.

5

Trust Leeds

Trustees' report (continued) for the year ended 31 March 2025

Achievements and Performance (continued)

Progress: Trust Leeds trained a further 10 people in the role and value of self-reliant groups. All of those we train become members of our monthly SRG Facilitator zoom coffee club, where people gain inspiration, support and encouragement to adopt the model.

This was the feedback from a community development worker who attended the SRG Facilitator training: “Great group, structure, and a mixture of knowledge and fun … inspiring to create social impact.”

The resources of the SRG Lending Library, SRG Gatherings and development activities are available to them, along with expert and experienced guidance from the Chief Executive and part-time staff.

Building the ‘digital heart’ of Trust Leeds has been a core project again this year, thanks to Leeds Community Foundation’s Cognizant Fund. We’ve focussed on increasing the digital skills and capacity of our members, and building more efficiency and stronger communications with our members. A great example of this was our Menopause SRG Day Camp, where five Be Your Own Boss SRG entrepreneurs were commissioned to run workshops ranging from nutrition to online resources for menopause. 84% of those attending reported an increase in digital skills, no doubt due to these workshops and the loans of tablets and Wi-Fi thanks to a Jengala UK Getbox partnership.

This Linked In article by100% Digital Leeds reflecting on its first 10 years, summarises how building partnerships is key to digital inclusion:

“We’ve spent 10 years developing the 100% Digital Leeds programme. We’ve written hundreds of thousands of words to articulate the principles of our community-based model. After all those years and all those words, this short quote from Liza Kellet, CEO of Trust Leeds, perfectly encapsulates the 100% Digital Leeds approach to digital inclusion “Thank you for being such gentle and consistent allies.” We’re grateful to everyone who’s worked with 100% Digital Leeds over the last decade. Here’s to the next 10 years.”

Plans for Future Period

Complementing the Board’s strategy meeting in May 2024, the Chief Executive was honoured to be selected to join two leadership programmes this year:

These have been excellent programmes, at just the right time, to allow for robust planning and development within the specific contexts of Trust Leeds' purpose and ambitions.

Objectives for the financial year 2025/6 include raising £70,000 of core and project funding to enable:

6

Trust Leeds

Trustees' report (continued) for the year ended 31 March 2025

Financial review

The net income for the year was £19,592, including net income of £30,248 on unrestricted funds and net expenditure of £10,656 on restricted funds after transfers.

Highlights of this year’s financial performance relate to our fundraising successes to develop our strategic thinking and develop core programmes. This was enabled by funding from GSK to deliver, with The King’s Fund, the ‘GSK Community Health Leadership Programme’, and by Royal London in support of the Royal London Changemakers Programme in partnership with the School for Social Entrepreneurs.

Funding from the UK Government through the UK Shared Prosperity Fund enabled us to run a final cohort of our ‘Be Your Own Boss’ SRG programme, thanks to Leeds City Council’s UKSPF Hyper-local programme. We were thrilled to be able to also develop a new complementary programme called ‘Getting Going & Growing’ which was designed to support kitchen-table entrepreneurs to build their confidence and competence around financial planning. Our self-reliant group work continued to be project-funded by grants from Leeds Community Foundation: Cognizant Fund to underpin our digital development, and Transforming Mental Health programme to support our work in nurturing new self-reliant groups for members facing mental health challenges.

Trust Leeds is nearing the completion of six years of core funding for our self-reliant group work from the Tudor Trust: this grant has been the backbone of our success in bringing the benefits of self-reliance to communities across Leeds.

Smaller grants and donations were exponentially helpful in supporting core costs and specific elements of our work. For example:

It is thanks to this support that Trust Leeds has been able to support members and borrowers facing the challenges of COVID, the cost of living crisis, poverty and financial exclusion.

The trustees have assessed the charity's ability to continue for at least 12 months from the date that the accounts are approved, and concluded that no material uncertainties exist that cast significant doubt on the charity's ability to meet its liabilities as they fall due. Quarterly board meetings include a detailed review of: budgets and forecasts; performance against budgets and outputs/targets committed to funders and donors; and options and needs to balance forecast income, fundraising opportunity assessments, and project development ambitions.

7

Trust Leeds

Trustees' report (continued) for the year ended 31 March 2025

Reserves policy

The charity's free reserves, excluding fixed assets, at the year end were £62,304, (last year, £31,706), thanks in part to an unrestricted philanthropic gift from our patron.

The Trustees have reviewed the reserves policy this year, and continue to agree a target for unrestricted reserves of between three and nine months of operating costs. This includes: salaries, redundancy payments, project completion costs and a £3,000 allocation towards the costs of winding-down the lending operation over a 12-month period. This will allow Trust Leeds to provide continuity of charitable activities in the event of: variations and fluctuations in fundraising income and cash; emergencies; and in the case of winding down.

Trust Leeds is meeting its reserves target. Our fundraising strategy moving forward is to seek project and strategic/core funding and maintain modest necessary reserves.

8

Trust Leeds

Trustees' report (continued) for the year ended 31 March 2025

Statement of trustees' responsibilities

The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting

Company law requires the trustees to prepare financial accounts for each financial year which give a true 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 the year. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and apply them consistently;

observe the methods and principles in the Charities SORP;

make judgements and estimates that are reasonable and prudent;

state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.

Approved by the board of trustees on 16/9/2025

Gary Wilson-Poe (Trustee)

9

Trust Leeds

Independent examiner's report to the trustees of Trust Leeds

I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2025, which are set out on pages 11 to 18.

Responsibilities and basis of report

As the charity's trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act ('the 2011 Act'). 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 confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns 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 accounts to be reached.

Claire Welling

1/12/2025

West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds LS10 2QW

10

Trust Leeds

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 31 March 2025

Notes
2025
Unrestricted
funds
£
Income from:
Grants and donations
(2)
40,705
Donated services
(4)
600
Total income
41,305
Expenditure on:
Salaries NI and pensions
(3)
1,636
Travel
1,125
Events, PR, marketing and website
315
Memberships
65
Insurance
-
Bank charges
-
Professional fees
(4)
-
Equipment
-
IT and telephone
667
Subsistence
498
Fundraising
216
SRG events and activities
417
Training
350
Independent examination
-
General office costs
382
Governance and trustee expenses
(4)
600
Freelance support sessions
-
Finance support
135
Volunteer expenses
-
Depreciation
350
Total expenditure
6,756
Net income / (expenditure)
34,549
Transfers between funds
(5)
(4,301)
Net movement in funds
30,248
Fund balances brought forward
32,405
Fund balances carried forward
(5)
62,653		 2025
Restricted
funds
£
77,740
-
77,740
70,907
1,203
2,444
565
1,268
97
(811)
870
1,714
497
-
5,149
1,031
970
1,570
34
4,389
800
-
-
92,697
(14,957)
4,301
(10,656)
63,350
52,694		 2025
Total
funds
£
118,445
600
119,045
72,543
2,328
2,759
630
1,268
97
(811)
870
2,381
995
216
5,566
1,381
970
1,952
634
4,389
935
-
350
99,453
19,592
-
19,592
95,755
115,347		 2024
Total
funds
£
88,745
2,000
90,745
59,944
3,803
2,814
2,474
1,549
53
4,836
1,086
3,476
836
168
5,435
1,170
970
2,455
163
3,180
1,614
1,093
350
97,469
(6,724)
-
(6,724)
102,479
95,755

All incoming resources and resources expended derive from continuing activities.

11

Trust Leeds

Balance sheet

as at 31 March 2025
2025
Unrestricted
£
Fixed assets
Tangible assets
(6)
349
Total fixed assets
349
Current assets
Debtors and prepayments
(7)
7,830
Programme related investments
1,970
Cash at bank and in hand
(8)
55,969
Total current assets
65,769
Current liabilities:
amounts falling due within one year
Creditors and accruals
(9)
3,465
Total current liabilities
3,465
Net current assets / (liabilities)
62,304
Net assets
62,653
Funds
Unrestricted funds
General unrestricted funds
57,653
Designated funds
(10)
5,000
Unrestricted funds
62,653
Restricted funds
-
Total funds
62,653		 2025
Restricted
£
-
-
14,419
-
38,275
52,694
-
-
52,694
52,694
-
-
-
52,694
52,694		 2025
Total
£
349
349
22,249
1,970
94,244
118,463
3,465
3,465
114,998
115,347
57,653
5,000
62,653
52,694
115,347		 2024
Total
£
699
699
8,279
804
89,060
98,143
3,087
3,087
95,056
95,755
27,405
5,000
32,405
63,350
95,755

For the year ending 31 March 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who are also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).

The financial statements were approved by the board of trustees on 16/9/2025

Gary Wilson-Poe (Trustee)

12

Trust Leeds

Notes to the accounts

for the year ended 31 March 2025

1 Accounting policies

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements 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) (effective 1 January 2019) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year.

No changes have been made to the accounts for previous years.

Going concern

The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, if it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.

Grants and donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.

Donated goods for resale are valued at the amount actually realised upon their sale.

Donated assets, facilities or services are valued at their estimated value to the charity. This is the price that the charity estimates it would pay in the open market for equivalent items; or services and facilities of equivalent utility to the charity.

Programme related investments

Loans made and repayable within one year are recognised at their carrying amount. For loans repayable in more than one year the loan is initially recognised at the amount paid, with the carrying amount adjusted in subsequent year to reflect repayments and any accrued interest and adjusted if necessary for any impairment.

Expenditure and liabilities

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

Taxation

As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

13

Trust Leeds

Notes to the accounts

for the year ended 31 March 2025

1 Accounting policies continued

Tangible fixed assets

Tangible fixed assets costing more than £1,000 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Office equipment: over 3 years

Pensions

The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

14

Trust Leeds

Notes to the accounts continued

for the year ended 31 March 2025

2 Grants and donations
Donation - TP Joy & Recognition Fund
UK Shared Prosperity Fund
Leeds City Council (LCC) Adults & Health
Leeds Community Foundation (LCF)
Rachel Lord
School of Social Entrepreneurs (SSE)
The King's Fund
Tudor Trust
The Fore
Other donations
Gift aid
3 Staff costs and numbers
Gross salaries
Social security costs
Employment allowance
Pensions
Holiday pay accrued
Payroll fees		 2025
Unrestricted
funds
£
-
-
-
-
30,000
-
-
-
-
3,205
7,500
40,705		 2025
Restricted
funds
£
2,000
9,740
10,000
20,000
-
16,000
10,000
10,000
-
-
-
77,740		 2025
Total
funds
£
2,000
9,740
10,000
20,000
30,000
16,000
10,000
10,000
-
3,205
7,500
118,445
2025
£
67,745
5,674
(5,000)
1,771
1,663
690
72,543		 2024
Total
funds
£
981
28,000
-
21,422
-
-
-
30,000
4,625
3,214
503
88,745
2024
£
57,860
4,993
(4,993)
1,474
-
610
59,944

The average number of employees during the year was 3.9, being an average of 2.3 full time equivalent (2024: 1.9, 1.3 FTE). There were no employees with emoluments above £60,000.

Defined contribution pension scheme 2025 2024
£ £
Costs of the scheme to the charity for the year 1,771 1,474

4 Donated services

Governance and trustee expenses

Clarion Solicitors kindly donates the use of a meeting room and refreshments for Board meetings: £600 of this expenditure relates to the costs of board meetings.

Professional fees

The FCA reimbursed £2,678 for membership fees in respect of two years. This charge should not have been levied.

In the previous year £2,000 of this expenditure was donated services of design and website set up costs provided by Wolfstar Consultancy.

15

Trust Leeds

Notes to the accounts continued

for the year ended 31 March 2025

5 Restricted funds
Balance b/f
£
LCC Be Your Own Boss
8,887
GSK Community Health Fund
-
LCC Getting Going & Growing
-
LCF Cognizant Fund
7,434
LCF Transforming Mental Health
-
LCC ABCD
-
West Riding Masonic Charities
969
Micro-finance 1
10,143
Micro-finance 2
20,000
School for Social Entrepreneurs
-
TP Recognition Fund
262
Tudor Trust
15,655
63,350		 Incoming
£
1,740
10,000
8,000
-
20,000
10,000
-
-
-
16,000
2,000
10,000
77,740		 Outgoing
£
14,928
2,642
8,000
7,434
20,000
6,884
969
(1,087)
2,000
5,120
720
25,087
92,697		 Transfers
£
4,301
-
-
-
-
-
-
-
-
-
-
-
4,301		 Balance c/f
£
-
7,358
-
-
-
3,116
-
11,230
18,000
10,880
1,542
568
52,694

Fund name LCC Be Your Own Boss

GSK Community Health Fund LCC Getting Going & Growing LCF Cognizant Fund LCF Transforming Mental Health

LCC ABCD West Riding Masonic Charities

Micro-finance 1 Micro-finance 2 School for Social Entrepreneurs

TP Recognition Fund Tudor Trust

Purpose of restriction

UK Shared Prosperity Fund - Leeds Hyper-local programme. £4,301 was transferred into this fund to meet the project costs beyond the grant awarded.

GSK Community Health Leadership Programme.

To design and deliver a business financial management workshop. To support our ‘Digital Heart’ project.

To fund delivery of the second year of the Transforming Mental Health project.

To support the development of the Self-Reliant Group network. To set up the SRG Lending Library of Things (small items of kit & equipment).

Private donation to support the charity in developing its micro-finance work. Private donation to support the charity in developing its micro-finance work. To support the participant to attend the Royal London Changemakers Programme and to put their learning into practice in developing their social enterprise. Specifically to cover salary costs.

To recognise and support members in need.

A core grant to support the running costs of Trust Leeds as it develops and grows, including match funding for the ERDF project.

16

Trust Leeds

Notes to the accounts continued

for the year ended 31 March 2025

6
7
8
**9 **		 Tangible assets
Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
Debtors and prepayments
Prepayments
Accrued income
Cash at bank and in hand
Cash at bank
Cash in hand
Creditors and accruals
Creditors
Accruals
Other creditors		 £
1,049
-
1,049
350
350
700
349
699
2025
£
330
21,919
22,249
2025
£
93,015
1,229
94,244
2025
£
-
970
2,495
3,465
Office
equipment		 Total
£
1,049
-
1,049
350
350
700
349
699
2024
£
279
8,000
8,279
2024
£
88,821
239
89,060
2024
£
2,000
970
117
3,087

17

Trust Leeds

Notes to the accounts continued

for the year ended 31 March 2025

10 Designated funds
Loan fund
Fund name
Loan fund		 Balance b/f
Incoming
Outgoing
Transfers
Balance c/f
£
£
£
£
£
5,000
-
-
-
5,000
5,000
-
-
-
5,000
Reason for designation
To fund a pilot programme of micro-financing businesses emerging from our
Self-Reliant Groups, and the financially excluded, later designated to general
micro-finance activity.

11 Related party transactions

Trustee expenses

During the year no trustees were in receipt of expenses (previous year: no expenses).

Remuneration and benefits received by key management personnel

The total employee benefits received by key management personnel were £44,025 (previous year: £40,411).

18

Trust Leeds

Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2025

2025
2024
Unrestricted Unrestricted
funds
funds
£
£
Income
Grants and donations
40,705
3,717
Donated services
600
2,000
Total income
41,305
5,717
Expenditure
Salaries NI and pensions
1,636
-
Travel
1,125
27
Events, PR, marketing and website
315
-
Memberships
65
184
Insurance
-
-
Bank charges
-
-
Professional fees
-
2,250
Equipment
-
-
IT and telephone
667
113
Subsistence
498
-
Fundraising
216
90
SRG events and activities
417
9
Training
350
-
Independent examination
-
-
General office costs
382
517
Governance and trustee expenses
600
115
Freelance support sessions
-
-
Finance support
135
259
Volunteer expenses
-
62
Depreciation
350
350
Total expenditure
6,756
3,976
Net income / (expenditure)
34,549
1,741
Transfers between funds
(4,301)
1,049
Net movement in funds
30,248
2,790
Fund balances brought forward
32,405
29,615
Fund balances carried forward
62,653
32,405		 2025
Restricted
funds
£
77,740
-
77,740
70,907
1,203
2,444
565
1,268
97
(811)
870
1,714
497
-
5,149
1,031
970
1,570
34
4,389
800
-
-
92,697
(14,957)
4,301
(10,656)
63,350
52,694		 2024
Restricted
funds
£
85,028
-
85,028
59,944
3,776
2,814
2,290
1,549
53
2,586
1,086
3,363
836
78
5,426
1,170
970
1,938
48
3,180
1,355
1,031
-
93,493
(8,465)
(1,049)
(9,514)
72,864
63,350		 2025
Total
funds
£
118,445
600
119,045
72,543
2,328
2,759
630
1,268
97
(811)
870
2,381
995
216
5,566
1,381
970
1,952
634
4,389
935
-
350
99,453
19,592
-
19,592
95,755
115,347		 2024
Total
funds
£
88,745
2,000
90,745
59,944
3,803
2,814
2,474
1,549
53
4,836
1,086
3,476
836
168
5,435
1,170
970
2,455
163
3,180
1,614
1,093
350
97,469
(6,724)
-
(6,724)
102,479
95,755

19