R•glstsred number: 12210018
Charity number: 1187630
GRIMSBY YOUTH ZONE
(A company Ilmited by guarantee)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022

GRIMSBY YOUTH ZONE
(A company limited by guarantee)
CONTENTS
P8ge
Reference and admlnlstratlvo details of the Company. Its Trustees and advlsèrs
Truytoe5' report
Independent examlnerfs report
statBmBnt of financial activities
Balance sheet
10. 11
Notgs to the financial Statements
12-21

GRIMSBY YOUTH ZONE
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE PERIOD ENDED 31 MARCH 2022
Trustees
J Carson Iresifjned 21 October 20201
P Jackson
H Kanakides
D Williams Iresiqned 7 December 20201
G Alton OBE lappoinled 21 October 20201
C Jensen (appointed 17 February 20211
Dr M Osrnan lappoinled 28 Agril 20211
J Slockwood lappoinled 21 October 20201
A Critchlow lappoinled 9 November 20211
D Cook (appointed 23 March 20221
Company reglstered
number
12210018
Charity reglstered
number
1187630
Registered offlce
CIO Wilkin and Chapm8n LLP Sollcitor5
Cartergale House
26 Chanlry Lane
Grim5by
DN312LJ
Page 1

GRIMSBY YOUTH ZONE
(A company limitod by guarantee)
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2022
The Tnjslees, who are also Directors of ihe company, present their Directors. report for the purposes of Section
417 of the Companies Act 2006 and Trustees. Annual Report for the purposes ol section 162 of the Charitie5 Act
2011 togethar with the Financial Stalemenls of the Charity for the period ending 31 March 2022.
l - Reference and admlnistratlve deta115
Grimsby Youth Zone was incorporated on 16 September 2019 (Company registralion number. 122100181 as
company lirniled by guarantee and registered as a Charity on 28 January 2020 Icharily regislralion number=
11876301.
Tradlng name
Horizon Youth Zone
Webslle
hllp'.Ilwww.horizonyoulhZone.￿
2-Whoweare
Grimsby Youth Zone, named by young people a5 'Horizon'. will be a pufpose built youth cenlie for young people
from Grimsby and the surrounding area. Located in the heart of GTimsby. the new faGility will be on the sile of the
former Wesl Haven Mallings and Migar House building5. fronling onlo the River Freshney. 11 will be a safe and
inspiring place for young people aged 8 - 19. and up lo 25 for those with additional needs and disabilitses. lo
enjoy their leisure time and access opportunities lo discovèr Iheir passions and their purpose.
Horizon is based upon Ihe successful Onside 'Youth Zone. model. where rnembers will have access to stale of
the art facililies for a cost of £5 per year and only 50p per visit. Inside Ihe Youlh Zone young people will have
choice DI over 20 fun and engaging activities every session. including sports, arts, music, media, dance, drama.
cooking, employability and enterprise workshops. and much more.
Horizon Youth Zone is being delivered in partnership with Onside and North East Lincolnshire Council and is
supported by a rbumber ol businesse5, philanthropis15 and charitable fDundalions.
3 - Structure, governance and management
3.1- Governing Docurnent
Grimsby Youth Zone is a cotnpany liwniled by guarantee wilhoul Sha￿ capital and iegislered under the
Companies Act 2006, regislralion number 12210018. The Chaiity is govemed by its Memorandum and Articles
of Association dated 16 September 2019. Management of Ihe cownpany's affairs is vested in the co-oirectors. It
is a Charity regislered with the Charity Commission on 28 January 2020.
In the evenl ol a winding-up, the present members and Ihos8 who have ceased to be a rnember within one year
of such an event have guaranteed the liabililies ol the Charity to the sum not ex￿edIng len pounds each.
3.2 - Recruitment and appointment of Trustees (Director5)
The first D1￿clo[5 were the subscribers lo the memorandum as notified lo Companies House as Ihe first
Directors of the Charity. A person appointed as a Director thereupon becomes a Member of the Charity and a
Directors who ceases lo hold office for any reason thereupon Ceases to be a Member of the Charity. Directors
have Ihe power to appDint. by ordinary resolution, any person to be a Director who is willing lo act 8S such. New
Direclors will be recruited according to the needs of the Charity and the suilabilily of possible candidates. A
unanimou5 approval Df existing Directors would lead lo their appoinlmenl.
Page 2

GRIMSBY YOUTH ZONE
IA company Ilmited by guaranteè)
TRUSTEES. REPORT ICONTINUEDI
FOR THE PERIOD ENDED 31 MARCH 2022
The Mefflorandum and Articles ol Association slates thal the number of members IDirectOTs1 sh811 have no
maximum and shall not be less Ihan three. At the first Annual General Meeting all Directors rnust ietiTr an¢J seek
re-election. At each subsequent Annual General Meeting one third of the Direclors are required lo retire by
rolatil￿ and seek re-appointment if they wish lo continue.
The Metnbers of the Charity are ils Direclors fof the time being and the only persons eligible to be Members of
the Charity are 115 Directors.
Full details of the rules are contained in the Charity's Mefflorancsum and kncle5 of Association, dated on
incorporation on 16 September 2019, which may be inspected al the Grimsby Youth Zone regislered office.
3.3 - Organi5ational Structure
Grim5by Youth Zone is govemed by ils Ttuslee Board which is responsible for setling Ihe strategic direclion of
the organisalion and the policy of the Chaiily. The Trustee5 carry the ults'mate responsibility for the conduct of
Gritnsby Youth Zone and for ensuriry that the Chatily satisfies ils legal and conlraclual Dbligations. Trustees
tneel approxifflalely every two month5 and tnay delegate the implemenlation of their decisions or day-to-day
operation of the organisalion lo senior management: any employee of the Charily, person or comrnillee a5 they
see fil. Any committee fflust include at least one TTuslee. The Trustee Board is ind&pendenl from management
Decision5 are delerrnined by a simple rnajorily of voles. In the case of an equality of voles the Chair of the
meeling has the castirbg vole.
Risk management
The Trustee5 have con5ideied the major risks to ¥vhich the Charity is exposed and have established suitsble risk
management and conlrol procedures.
Related party tr8ns8Ctions
There were no transaclions wilh ielated parties required ID be disclosed in the finallcial stalemenls.
4 - Objective and activities
Grimsby Youth Zone exisls to help and educate young people residenl in Grimsby and surrounding areas.
Providing an inspiring environment and p0511ive acliwilies lo spend their leisure time and by promoting their fvll
potential in order that they may grow lo maluiily as individuals and members of society. and that their conditions
in life may improve.
5-Achievements during the period
We are gready indebled lo Ihe organisations and individuals who have given their personal and financial support
lo Horizon Youth Zone during this period. North Easl Lincolnshire Council continue lo provide SUPPDrtsve and
proaGtive leadership in Iheir role as a major strategic partner of the project.
Over £9 million has been secured in toial so far lowards the capita1 project costs. from a range of funders.
including.. North East Liricolnshire Council. Orsted. Jason Slockwood. The National Lollery Heritage Fund. Sl
Jarnes'5 Place Charitable Foundation, as well as several anonymous dDnors. The Horizon Youth Zone Board
and projecl leam are hugely grateful for Ihis OVer￿helmln9 SUPPDrt. Together. these strategic capital funders are
bringing the project to fruition as we conlinLte to work to Complete the capital campaign. to enable construction
work to begin.
The Founder Patron family, which provides operating revenue for the Youth Zone. has had a strong start. We
are very grateful lo Andrew Pellit, the Bentham family, Orsled, Jason Slockwood, Allied Protek Engineering Ltd.
Page 3

GRIMSBY YOUTH ZONE
IA company lirnited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE PERIOD ENDED 31 MARCH 2022
DFDS Seaway5, Myenergi Ltd. Simon Smith, Dee Bee Wholesale Ltd, the Fianci5 Arthur Brookes Charitable
Trust and the Humberside Police & Crime Commissioner, who have all pledged generous long-lem revenue
commilmenls lo Horizon. Financial 5UPPOrt from Novartis UK. Eveigreen UK and the Bishoplhorpe Wind Farm
Community Fund has also been commilled towards Horizon's operating costs. Together, these philanthropic
partners have been and continue to be instrumental in driving the pioject forNard and allracling further funding.
Horizon Youth Zone benefits frorn Ihe support of Onside (charity number 11258931 in ils development and will
become a rnember of the growing Onside network of Youth Zones.
6 - Public benefit
All the activilies of the Charity (as summsrised above) were undertaken lo further ils charilable purposes for
public benefit. The proviston of a high-quality facility for young people responds lo a clear, ongoing demand from
Dung people, parents and wider communities for more and belter places for young people lo go.
The Truslees of Grimsby Youlh Zone believe they have complied with the duty in Section 17 of the Charities Act
2011 to have due regard to the publtc benefit guidance published by Ihe Charity Commission.
Voluntoers, contribution
Throughout ihe period all members of the Board of Trustees made invaluable voluntary contributions lo the
Charity s work in lerm5 of governance, professional and business experience, financial planning. fundraising and
leading initiative5 across the project. Such conlriMiions were, on average. equivalent lo one full day each
calendar month.
Investment Activities
Under ihe memorandum and articles of association, the charitable company has the power to make any
inve51ment which the Trustees See fit. Inveslrnenls are made where required lo furthe¥ the al￿$ and objects of
the Charity. Currently. the Charity does not currently hold any inve5ttnenls olher than cash on deposit with
Handelsbanken.
7- Financial review
A summary of the results is shown below..
2022
Incoming resources
()Jtgoing resources
469.981
{8.5921
Net incoming resources
461.389
Raserves Policy
The Board of Trustees of Grimsby Youth Zone have determined that unreslricled. 'free'. reserves should be
maintained al a minimum of 3 to 6 months of day to day running costs. plus any designaled funds for specific
projects al the Trustees discTelion. Trustees feel this reserves policy appropriat81y reflect the risks lo which the
Charity is exposed. Due consideration has bèen given to these activities in the annual review of the reserves
policy and. curtently, these costs remain minimal in the pre-opening phase. Once GTimsby Youth Zone is
Page 4

GRIMSBY YOUTH ZONE
IA company Ilmited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
operational. nJnning costs for 3 months {minimum} and 6 months {maximuml will be calculated and reserves will
be maintained within the two figures.
Total reserves as al 31 March 2022 were £899.53712020.. £438.1481. Free resetves We￿ a surplus of £77.285
12020-. Deficit of £1.8521. This amount of Iree reserves arnounls lo over 12 months. cover of costs given the
current stage of the project during the pre-opening stage. The policy will be reviewed by the Boaré annually, lo
assess whelher the current level is still appropriate.
Change of reporting period
The financial pericKJ covered in these slalements are for a period longer than a yea¥ in older lo bring Grimsby
Youth Zone in line with the year end of the rest of the network. Due lo this the comparative amounts in the
financial statements (including the related nolesl are not entirely cownparable. Grimsby Youth Zone have the
legal authority lo change ils reporting period as thi5 15 permitted by Ihe Companies Act 2006.
8-Covid 19
Covid 19 ha5 had a small impact on ihe developmenl of Grim5by Youth Zone, due to early slage of the projecl.
The planning applicalion was submilled within the planned timescales. Asse55menl and the ullirnale award look
longer ihan anlicipaled however this was due to the heritage nature of the sile and associated complexities.
The impacl of the Covid 19 pandemic has resulted in some changes to the funding landscape and social
distancing requiremen15 have prompted Horizon's fundraisers lo adapt their approaches to developing new
relationships with prospective donors. On the hand Horizon has seen that, due lo eGonomic circumstance5.
5tnall number of small lo fflediurn sized business owners (Palions of Youth Zones across the Onside Nelworkl
have had lo pause their fundiNg, and in raie instances have been unable lo fulfil their pledged support. However,
the va51 majority of Patron sUPPOrt has continued and some have been in a position lo increase or expedite their
donation to support young people duting the most tesling of limes.
9 - Statgrnent of Trustees. responslbililles
The Trustee5 (who are also the Directors of Grimsby Youth Zone for the purpose of company lawl are
responsible fDr preparing the Trustees, Annual Report and the financial stalernenls in accordance with applicable
law and United Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting PraGts'ce}.
Company law Tequires the Trustee5 to prepare financial slalements for each financial year. which give a true and
fair view of the 51ale of affairs of Ihe Gharilable company and of the income and expenditure, Df the charitable
company for that period. In prepaiing these financial ststements. the Truslees are required lo..
select suitable accounting policies and then apply them consislentty.,
observe the methods and principles in the Charities SORP.
make judgements and estimates that are reasonable and prudent..
state whelher applicable UK Acwunting Standards have been followed, subject lo any material departures
disclosed and explained in Ihe financial stalemenls-
Prepare the financial 51atemenls on the going con￿r￿ basi5 unless il is inappropriats lo presume that the
charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records Ihal disclose wilh reasonable accuracy
al any time the financial position of the charitable Company and enable them ID ensure that the financial
statemen15 cornply with the Companies Act 2006. They are alsD responsible for safeguarding the assets of the
charitable company and hence for taking reasonable steps for the prever)lion and deleGtion of fraud and Diher
irregularities.
The financial statements comply wilh Gurrent stalutory requirements. the companls Memorandum and Articles
Page 5

GRIMSBY YOUTH ZONE
(A company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE PERIOD ENDED 31 MARCH 2022
of Assoclation and the Charities SORP.
Appioved
by
or(ier
embers
the
board
and signed on Iheir behalf by..
Trustees
on
5. 10.22
C Jensen
Page 6

GRIMSBY YOUTH ZONE
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE PERIOD ENDED 31 MARCH 2022
Independent Examlnerfs Roport to th• Trustees ol Grimsby Youth Zone fihe Charlty.)
I report to the charity Truslees on my examinatlon of Ihe accounts of the Charity for Ihe periDY ended 31 March
2022.
Responsibilities and Basls of Report
A5 the Trustees of the Charity land its directors for Ihe purposes of cofflpany lawl you are responsible for the
Preparat￿ of the acc4xJnts in accordance with the requiremenis of the Companie5 Act 2006 ('Ihe 2006 Act,).
Having satisfied rnysell that the accoun15 of Ihe Charity are not required to be audited under Part 16 of the 2006
Act arKI are elKJible for indeper¥Jenl examination, I report in respect ol my examinaliorb of the Charilys accounts
carried out undei 5ectK)n 145 of Ihe Charitie5 Act 2011 1.the 2011 Acl'l. In carrying out my examinalion I have
fdlowed the Direct￿$ given by Ihe Charity Commission Under section 145{5llbl ol Ihe 2011 Act.
Indepondent Examiner's Statement
Since the Charills gross Incorne exceeded £250.IJOO your examiner must be a member of a bL>Jy listed in
section 145 of the 2011 Act. I confirm Ihai l am qualified lo undertake the examinab'on because l am a member
of Institute of Chartered Accounlanls in England Wales. whKh is one of the lisled t#)Jies.
I have completed my examinalion. I conlirm that ￿ matter5 have come to my attention in connecbon with the
examination giviw me cause lo believe..
accounting records wer0 not kept in respect of the Company as required by section 386 of the 2006 Act..
or
the accounts do not accord those records: or
the accounts do nol comply wilh ihe accounting requi￿rnents of section 396 of the 2006 AGt other than
any requirement that the accounts give a 'lrue and fairf view which is not a matter considered as part ol
an independenl examination,. or
the accounls have not been prepared in accordance with the method5 and princi￿eS of Ihe s￿lement of
Recommended Praclice for accour)ling 8nd reporting by charities applicable lo charities preparillg their
accounts in accordance with the Financial Repcrtlng Standard applicable in Ihe UK and RewJblK of
Ireland (FRS 102).
I have no concerns and have come across no other matters in conneciion with the exarmalbon to wlwch
allentson should be drawn in this report in order lo enable a proper urnJerstarKling of the accounts lo b• ￿aChed.
This report is made solely to the Charsws Tw5tees. as a body. Vt accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2￿8. My work has been undertaken so that I might stale lo the Charity's
Trustees those matters l am required to slale io them in an Independent examinerfs report and lor no other
purpose. To Ihe fulle5l extent permilled by law. I do nol ac¢8Pt or assume responsibility lo anyone other than the
Charlty and Ihe ChariW5 Trustees as a body. lor my work or for this report.
Signed..
Daled..
14 November 2022
Vicky Szulisl
ACA
Crow• U.K. LLP
Pag8 7

GRIMSBY YOUTH ZONE
IA company lirnited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
Charlered Accounlanls
3rd floor
The Lexicorb
Mount Street
Manchester
M2 5NT
Page 8

GRIMSBY YOUTH ZONE
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT}
FOR THE PERIOD ENDED 31 MARCH 2022
Restricted Unrestricted
funds
funds
18 Months
18 Months
ended
ended
31 March
31 March
2022
2022
Total
Total
funds
funds
18 Months
54 Weeks
ended
ended
31 March 30 September
2022
2020
Note
Income from:
Donations and legacies
Other trading actNilies
Investments
380,000
3,340
86,641
466,641
3,340
440.000
13
Total income
383,340
86,641
469,981
440.013
Expenditure on:
Charitable aclivilies
1,088
7.504
8,592
1.865
Total expenditure
1,088
7.504
8,592
1,865
Not movement in funds
382,252
79,137
461,389
438. 148
Reconclllatlon of funds:
Total funds broughl forward
Nel movemenl in funds
440,000
382,252
11,852)
79,137
438,148
461,389
438.148
Total funds carried forward
822,252
77,285
899,53T
438, 148
The Statement of Financial Activities includes all gains and losses recognised in the period.
The notes on pages 12 to 21 form part of these financial stslements.
Page 9

GRIMSBY YOUTH ZONE
IA company limited by guarantee
REGISTERED NUM8ER: 12210018
BALANCE SHEET
AS AT 31 MARCH 2022
30
31 March
2022
SeplenTbei
2020
Note
Fixed assets
Tangible assets
718,442
455.916
718,442
455.916
Current asset5
Cash al bank and in hand
224,600
4.635
224,600
4.635
Creditors= amounts falling due within one
year
10
143,5051
f22.403)
N8t current assets I liabilites
181.095
(17. 768)
Total assets les5 current liabilities
899,537
438, 148
Net assets excluding pension asset
899,537
438,148
Total net a$set5
899,537
438.148
Chartty funds
Restricted lunds
Unfeslricled funds
12
822.252
77,285
440,000
(1,852)
12
Total fund$
899,537
438,748
The Company was enlilled lo exemption from audit undei section 477 of the Companies Act 2006.
The members have not required the company to ob18in an audit for the period in question in accord8nce with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the raquirements of the Act with respect lo
accounting records and preparation of financial statements.
The financial statements have been prepaied in accordance with the provisions applicable to enbties subject lo
the small companies regtme.
The
financi81
statements
were
approved and
aulhorised for
issue
by the Trustees
and signed on their behalf by=
5.10.22
Page 10

GRIMSBY YOUTH ZONE
IA company limited by guaranteo)
REGISTERED NUMBER: 12210018
BALANCE SHEET ICONTINUEDI
AS AT 31 MARCH 2022
CJ) £D
C Jensen
The noles on pages 12 10 21 form part of these financial slalements.
Page 11

GRIMSBY YOUTH ZONE
IA company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
General information
Grirnsby Youth Zone is an incorporale(5 charity. company nurnber 12210018 and charity nurnber 1187630.
The addr85s of ihe regisled office is Alria. Spa Road, Bolton. Grealer Manchester. BL1 4AG.
Accounting policies
2.1 Basls of preparation of financial statements
The financial slalemenls have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities
preparing IheSr accounts in accordance with the Financial Reporting Standard applicable irn the UK
and Republic of Ireland IFRS 1021 leffeclive 1 October 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Grimsby Youth Zone meets the definition of a public benefil entity under FRS 102. Assets and
liabilities are initially recognised al historical cost or transaction v21ue unless otherwise slated in the
relevant accounting policy.
The financial period covered in these statements are for a period longer than a year in ordei lo bring
Grimsby Youth Zone irn line with the year end of the rest of the network. Due lo this the comparative
amounts in the financial slalemenls lincluding the related nolesl are not entirely comparable.
Grimsby Youth Zone have the legal authority lo change ils reporting perlod as this is permilled by the
Companies Act 2006.
2.2 Going concem
Despite the pandemic, the Charity has maintained a financially stsble stale over the last financial
period, and continues to do so_ The Trustees have taken a number of steps lo assess the YoLJth
Zone's ability lo continue as a going concern.. all key donors have been contacted in order lo identify
any challenges for them in maintaining their support and Trustees were delighted that all the parties
remain fully comfflitted lo the project.
Fundraising in a post Covid-19 landscape will present challenges, however we are well on track lo
securlng the Founder Patrons required prior lo opening. as well as workillg towards raising the full
capital requirement needed to complete the build.
Whilst il is never possible lo be certaln of the future, the Trustees consider that the steps taken ale
sufficient to classify the charity as a going concern and are confident in the Youth Zone's ability lo
meet its short and medium temi obligations.
2.3 Income
All income Is recognised once the Charity has entitjemenl lo the income. il is probable ihal the
income will be received and the amount ol income receivable can be measured reliably.
Income lax recoverable in relation to investment income is recognised at the lime the investment
income is receivable.
Page 12

GRIMSBY YOUTH ZONE
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
counting policles (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo Iransler economic benefit
to a third party, il is probable that a transfer of economic benefits will be required in selllemenl and
the amount of the obligation can be rneasured reliably. Expelldiluie is classified by activity. The costs
of each activity are made up of the lolal of d1￿cl costs and shared costs. including support Costs
involved in undertaking each aclivily. Direct costs allribulable to a singl& activity are allocated directly
to that activity-
Expenditure on charitable aclivilie5 is incurred on directly undertaking the aclivities which further the
Charity's objectives, as well as any associated sUPPOrt costs.
All expenditure 15 inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposlt is included when ￿CeIVable and the amount can b8 measU￿d
reliably by the Chartly,. this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capilalised and recognised when future economic
be￿er115 are probable and the Gosl or value of the asset can be measured reliably.
Tangible fixed 8ssels are initially recognised al cost. After recognition, under Ihe cost rnodel, tangible
fixed assets ale tnea5uied al cost less aGcumulaled depreciation and any accumulated impairment
losses. All costs incurred lo bring a tangible fixed assel Ènto its intended working condition should be
included in the mea5LJrement of cost,
Deprecialion is charged so a5 to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives. using the slraight-line rnethod.
Depreciation is provided on the followin9 basis".
A55els under construction
No depiecialion
2.7 Cash at bank and in hand
Cash at bank and in hand inGludes Ga5h and short-lerm highly liquid investmenl5 with a short malurily
of three months or less from the dale of acquisition or opening of ihe deposit or similar account.
Page 13

GRIMSBY YOUTH ZONE
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
Accountlng policies Icontinuedl
2.8 Liabllities and provisions
Liabililies are recognised when Ihere is an obligation al the Balance sheet dale as a fesull of a past
event, il is probable that a transfer of economic berbefit will be required in 5eltlefflenl, and the amount
of the seitlement can be e51irnaled reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay lo selde the debt or the
amount il ha5 received as advanced payments for the goods or seryices il musl piovide.
Provisions are measured al Ihe best estimate of ihe amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts. discounted at the pre-tax discount rale Ihal reflec15 the risks specific to Ihe liabilily. The
unwinding of the discount is recognised in Ihe Slalemenl of financial activities as a finance cosl.
2.9 Financial In$trumonts
The Charity only has financial assets and financial liabililies of a kind thal qualify as basic financial
instruments. Basic financial insliutnenls are inilially recogni5ed al transaction value and subsequently
measured ai iheir settlement value wilh the exceplton of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.10 Fund accounting
General fund5 are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of ihe Charity and which have not been designated for other
purposes.
Restricted fund5 ale funds which are to be used in accordance with 5pecifsc restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The CDs15 of raising and
adrninislerirhg such funds are chaiged againsl the specific fund. The aim and use of each restricted
fund is set out in the notes lo the financial sialements.
Investment income. gain5 and losses are allocated to Ihe appropriate fund.
Crltlcal accounting estimates and areas of judgment
Eslimates and judgmeTrls are continually evaluated and are based on historical experience and other
factors, including expectations of fulure events that are believed lo be reasonable undei the
circurn5tances.
Critical accounting estimates and assumptions-.
The Trustees are of the opinion that there are no critical accounting eslimales and as5UrnPtions.
Page 14

GRIMSBY YOUTH ZONE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
Income from donations and legacies
Restricted Unrestricted
funds
funds
18 Months
18 Months
ended
ended
31 March
31 March
2022
2022
Total
funds
18 Months
ended
31 March
2022
Donations
380.000
86.641
466,641
Reslricled
lunds
54 Weeks
ended
30
Seplembei
2020
rot81
lur￿$
54 Weeks
ended
30
September
2920
Donations
440.000
440.000
Incorne from other tradlng acuvllles
Income Irom fundraising events
Total
Total
funds
funds
54 Weeks
18 Months
ended
ended
30
31 March Seplemoei
2022
2920
Restricted
funds
18 Months
ended
31 March
2022
YPDG Fundraising
3,340
3.340
Page 15

GRIMSBY YOUTH ZONE
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
Analysls of expendlture on charftable activities
Restricted Unrestricted
funds
funds
18 Months
18 Months
ended
ended
31 March
31 March
2022
2022
Total
funds
18 Months
ended
31 March
2022
Siaff DBS checks
Insurance
BaTrk chaiges
Independent examiner fee
Staff uniform
116
923
116
923
47
1,482
484
3,154
228
35
384
47
1.482
484
3.154
228
35
l.T. Website & so￿are
MembershipslAfilialions
Other Supplies & sundry costs
Printing, postage & stationery
Marketing & comm5
Recruilment
600
21
30
600
21
Training expenses
Trips and activities
Advertising & markeb'ng
30
1,050
1,050
38
1.088
7,504
8.592
Unrestricted
funds
54 Weeks
ended
30
Seplember
2020
Total
funds
54 Weeks
ended
30
September
2020
Staff DBS checks
Insurance
Bank charges
Independent examiner fee
42
364
19
1.440
42
364
19
1,440
1.865
1,865
Page 16

GRIMSBY YOUTH ZONE
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
Independent examiner's remuneration
As restated
54 Weeks
18 Months
ended
erbded
30
31 March September
2022
2920
Fees payable to the Charity's independent exarniner lor the independent
examinalion of the Charily's annual accounts
1,482
1,440
Trustees. remuneration and expenses
During the period. no Trustees received any remuneration or other benefits (2020- £NILJ.
DLJring the period ended 31 March 2022. no Trustee expenses have been incurred (2020- £NIL).
Tangiblp fixed assets
Assets
under
tonstruetlon
Cost or valuation
Al 1 October 2020
Additions
455,916
262,526
Al 31 March 2022
718,442
Net book value
Al 31 March 2022
718,442
Page 17

GRIMSBY YOUTH ZONE
IA company limSted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
10.
Creditors: Arnounts talling due within one year
30
31 March September
2022
2020
Trade credilols
Accnjals and deferred incotne
5,164
38,341
20.963
1.440
43,505
22.403
11.
Financial instruments
31 March
2022
Flnanelal assets
Financial assets measure¢J al fair value through income and expenditure
224,600
31 March
2022
Financial liabilitles
Financial liabilities measured at fair value through incorne and expenditure
43,505
Financial assels measured al fair value through inGome and expenditure comprise of cash al bank and in
hand and trade debtors.
Financial liabilities measvred 8t fair value through income and expenditure Comprise of trade creditors and
accfuals.
Page 18

GRIMSBY YOUTH ZONE
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
12.
Statement of funds
Statement of funds - current period
Balance at 1
October
2020
Balance at
31 March
2022
Income Expendlture
Unrestricted funds
General Funds - all funds
11,8521
86,641
17,5041
77.285
Restricted funds
Reslricled Funds - Capilal
YPDG
440.000
380,000
3,340
820.000
2.252
11,0881
440,000
383.340
11,0881
822,2S2
Total of funds
438,148
469.981
18.5921
899,537
Reslricled funds - these are funds received lo be used in the conslruGlion of the Horizon Youth Zone in
Grimsby.
The unreslricled fund delicil was a short tem maller and was redified shortly after the year end with the
re¢elpl of £65,000 revenue funding.
Page 19

GRIMSBY YOUTH ZONE
IA company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
12. Statement of funds Icontinuedl
Statement of funds - prior perlod
Balance al
30
September
2020
Income Expendilure
Unrestrlcted funds
General Funds - all funds
73
(1.865)
(1,852)
Restricted funds
Reslricled Funds - all funds
44LI.000
440,000
Total of funds
440,013
(1.865)
438, 148
13. Analy$ls of net assets between funds
Analysls of net assets between fund$ - Current perlod
Restricted Vnrestri¢ted
funds
funds
31 March
31 March
2022
2022
Total
funds
31 Mareh
2022
Tengible fixed assets
Current assets
Creditors ¢Jue within one year
718.442
103,810
718,442
224,600
143.5051
120.790
143,5051
Total
822,252
77,285
899.537
Page 20

GRIMSBY YOUTH ZONE
(A company lirnlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
13. Analysis of net assets between funds {continued)
Analysis of net assets between funds - prior period
Restricted Unresliyoled
funds
funds
30
30
Sgptember
Seplembei
2020
2920
Tolal
funds
30
Septembei
2020
Tangible fixed assets
Current assets
Creditors due withln one year
440.000
15.916
4.635
(22,403)
455.916
4,635
(22.403)
Total
440.000
(1.852)
438.148
14. Related party transactions
The Charitable company has not entered into any related party Iransa¢lion during the period, nor are
there any oulslanding balances owing between related parties and the Charitable company al 31 Ilarch
2022.
Page 21