Registered nuM￿r.. 12210018
Charity number.. 118763Q
GRIMSBY YOUTH ZONE
(A company Ilmited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

GRIMSBY YOUTH ZONE
IA company limitèd by guarantee)
CONTENTS
Page
Roference and admini5tratlv¢ detslls of the Charlty, It5 Trusteès and advlser5
Trustees. r¢port
Inde￿ndont oxamlnerfs report
Statement of finan¢lal actlvlll8S
Balanc8 sh8et
10- 11
Notes to the finanelal stat8mènls
12-23

GRIMSBY YOUTH ZONE
IA cornpany limited by guarant881
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2023
P JaGk50n Iresiqnèd 4 January 20231
C Kanakides
G Alton OBE
C Jensen
Dr M Osman
J Stockwood
S Critchl¢w
D Cook
M Parker (appointed 7 Sèptember 20221
A Oltley lappoinled 7 Septembèr 20221
S Wroot lappoinled 26 June 20231
C¢mpany reglstered
number
12210018
Charity registered
number
1187630
Registered office
CIO Wil￿n and Chapman LLP Solicitors
Cartergate House
26 Chantry Lane
GriEvsby
DN31 2LJ
Page 1

GRIMS8Y YOUTH ZONE
{A company limtled by guarant•el
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees, who arè also Direclors ol the conpany. present their Directors, report for Ihe purposes of section
417 01 the Companles Act 2006 and Trustees, Annual Report for the purposès of section 162 01 the Charity'es Act
2011 together wlh the Financial Ststements of the Charity for the pèriod ending 31 March 2023.
1 - R•fèrence and administrativ• details
Grimsby Youth Zone was incorporated on 16 September 2019 Icompany registration number. 122100181 as a
company limited by guarantee and regisltrrgd as a Charity on 28 January 2020 Icharity registration number.
11876301.
TradSng name
HorEon Youth Zone
W8bslte
hltp.'Ilww.horizonyouthzone.OTgl
2-Whoweare
Grimsby Youih Zone, named by young people as 'Horizon'. will be a purpose built youth centre for young people
from Grimsby and the surrounding area. Located in the heart of Grifflsby. the new facility will be on the sile ol the
fomer West Haven Malting5 and Migar House buildings, fronting onto the River Freshney. 11 wll be a sale and
inspiring place lor young people aged 8 - 19. and up to 25 for those with additional needs and disabilities. to
enioy their leisufe time and access opportunities to discover their passions and their purpose.
Horizon is based upon the 5uccesshJl Onside 'Youth Zone, model. where Members will have access to Stale of
the art lacililies for a Gost of £5 per year and only Sop per visit. Inside the Youth Zone young peop18 will have a
choice ol over 20 fun and engaging acb"viUe5 every session. including sports. arts, music, media. dance, drama.
cooking. employability and enterprise workshops. and much more.
Horizon Youih Zone is being delivered in partnership with Onside and North East Lincolnshire Council and is
supported by a number of businesses. philanthrow'sts and chariiable foundalions.
3 - Structure, govemance and management
3.1 - Governing Doeum•nt
Grimsby Youlh Zone is a cofflpany limited by guarantee without share capital and registered under the
Companies Act 2006. registration number 12210018. The Charily Is governed by Its Memorandum and Articles
of Association dated 16 Septernber 2019_ Managemenl ol the company's affairs is vested in the Directors. 11 is a
Charity régistered with the Charity Corllmission on 28 January 2020.
In Ihe event of a winding-up. the present member5 and ihose who have ceased to be a rnember within one year
of such an event have guaranteed the liabililies of the Charity lo the suffl not exceeding ten pounds each.
3.2 . Recruitment and appointmènt of Trustees (Directorsl
The first Dlr*ctrJrs were the 5ubscriber5 to the memorandum as notified to Companies House as the first
Directors of the Charity A person appointed as a Director thereupon becomes a Membèr of the Charily and a
Directors who cease5 to hold office lor any reason theieupon ceases lo be a Member of the Charity. Director5
have the power to appoint. by ordinary resolub"on. any person to be a Director who is willing lo act as such. New
Directors will be Tecruiled according to the needs of the Chaiity and the suitability ol possible candidates. A
unanimous approval of existing Directors would lead to their app01ntrnenl.
Page 2

GRIMSBY YOUTH ZONE
(A company limited by guarantoel
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
The Memorandum and Arlicles of Association stales that the number of mèmbers IDirector515hall have no
maximum anc5 sh811 not be less than three. At the first Annual General Meeting all Directors rnu5t retire and seek
re*leclion. At each SL5bsequent Annual General Meeting one third ol the Directors are required to retire by
rotalion and sèèk re-appointment if théy wsh lo continue.
The Member5 of the Charity aitr its Directors for the bme being and the only persons eligible to be M8mbers of
the Charity are its DireGtOfS.
Full details of the rules are contsined In the Charity's Memorandum and Articles of Association. dated on
ncoiporation on 16 September 2019, which may be inspected at the Grimsby Youth Zone registereij office.
3.3 - Organisational Structure
Grirnsby Youth Zone is governed by its Truslee Board which 15 rèsponsible for setting the strategic diredion of
the organisation and the policy ol the Charity. The Truslees carry the ultimat8 r85ponsibility for Ihe conduct of
Grimsby Youth Zone and for ensuTing that the Charity salisfies Its legal and contractual obligations. Trustees
meet app￿xiMatelY every iwo lo Ihree monlhs and may delegate the Implementation ol their decisions or day-lo-
day operation ol the organisabon to Senior managemenl. any employee of the Charity. person or comm￿ttee as
they see fst. Any cofflmittee musl include al leasl one Truslee. The Trustee Board is independent from
management
Dec15ions a￿ detemiiTred by a 5ifflple majority of vote5. In the case of an equality of voles the Chair of Ihe
meeting has the casting vote.
Risk manag•m•nt
The Trustees have considered the major risk5 to which thè Charity is exposed and have established suitable risk
management and wntrol procedures.
Relat•d party transaction5
There were no transa¢tions with related parbes required to be disclosed in thè financial statements.
4 - Objectlve and activlties
Grirnsby Youth Zone 8X15ts lo help and educate young people resident in Grimsby and surrounding areas.
Providing an inspiring environment and p051tive activilie5 to spend their leisure time and by promoting their lull
potenb'al in order that they may grow to malurity as individua15 and members ol society, and Ihal their conditions
in life may improve.
5 - AchievemÈnts durlng the period
We are greaily indebted to the organisations and individuals who have given their personal and finanGial support
to Horizon Youlh Zone during this period. North East Lincolnshire Counul continue lo provide supporb've and
proactive leadership in their role as a major sirategic partner of the project.
Over £13.5 million has b8en secured in total 50 lar towards the captlal project costs. from a range of ftjnders.
including.. North East Lincolnshire Council. Orsted. Jason Slockwood. The National Lotlery Heritage Fund, St
James's Place Charitable Foundation, Department lor Cullure. Modia & Sport's Youth Investmenl Fund as W811
as several anonyrnou5 donors. The Horizon Youth Zone Board and project le8m are hugely grateful for this
overwhelming support. Together. these strategic capital funders are bringing the project to fruits.on completing the
capital campaign and we look forward to beginning construGtion in the very near future.
The FounLfer Patron family. which provides operating revenue for the Youth Zone, has wntinued to grow. We
Page 3

GRIMSBY YOUTH ZONE
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
are very grateful lo Andrew Pettit. the Bentham family, Orsled. Jason Stockwood, Allied Protek Engineenng Ltd.
DFDS Seaways. Myenergi Ltd. Simon Smith. Dee Bee Wholesale Ltd. the Francis Arihur Brookes Charitable
Trust and the Humberside Police & Crime Commissioner, who have all pledged generous long-term r8venue
comfflitments to Horizon. Financial support from Novart15 UK. Evèrgreen UK and Ihe Bishopthorpe Wind Farm
Community Fund has also been committed lowards Horizon's operating costs. Tog8iher. these philanthropic
partners have been and conts'nue lo be instrumgntal in driving the project forward and attractsng further funding.
Young People. through the Young People Development Group hav8 continued to 5UPPOrt and shape the
iJevelopm8nt of the Grimsby Youth Zone.
Horizc*n Youth Zone benefit5 from the 5UPPOrt of Onside Icharily number 11258931 in its developrnenl and VAII
become a member ol the growing Onside network of Youlh Zones.
6 . Public bènefit
All the activities ol the Charity las summarised above) were undertaken to further its charitable purpose5 for
public benefit. The provision ol a high-qualily lacility for young people Tesponds lo a clear. ongoing demand from
young people, parents and wider communityes lor more and better places for young people to go.
The Trustees of GiitTFsby Yauth Zone believe they have corrplied with the duty in section 17 of the Charities Act
2011 to have due iegard to the public benefit guidance published by the Charity Commission.
Volunteers, contribution
Throughout thè period all members of the Board of Trustees fNade invaluable voluntary GontTibutions lo the
Charity'5 work in terms of governance. professio￿al and business experience. financial planning. fundraising and
leading initiats"ve5 across the project. Such contributs'ons were. on average. oquivalent to one lull d8y each
calendar rnonlh. In addition. Ihe engagement work with young people has been supported by a pool ol dediGatd
volunleers. giving on average 9 hours a week of volunteer b.ffle lo support the Youth Development Group.
Invèstment Activities
Under the memorandum and articles of association. the charitablè company has the power to make any
investment which ihe Trustees See fit. Investrnents ale made where required to further the aims and objects of
the Charity. Currenuy. the Chanly does not cuffently hold any investments other than cash on deposil with
Hande15banken.
7 - Financial revlew
A summary of the results is shown below..
2023
Inconrring resources
Ojlgoing résources
469,155
147.2641
t incorring resources
421,891
The charity is still in its embryonic phase with rtonations being received lo fund the design and construction of the
Youth Zone.
Page 4

GRIMSBY YOUTH ZONE
IA company limited by guarantee}
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
Re5erve$ Policy
Th8 Board of Trustees ol Grimsby Youth Zone have determined that unrestricted. 'free'. ièserves Should be
maintained al a miniTrurn of 3 10 6 months of day to day running costs, plus any designated funds for specific
projects at the Trustees discrètion. Trustee5 feel this resèrves policy appropnately reflect the risks to which the
Charity is exposed. Duè consideration has been given to these activiUe5 in the annual review ol the reserves
policy and. ¢urrenUy. (hese costs remain minimal in the pre-opening phase. Once Grimsby Youth Zone is
operational. running costs for 3 months Iminimuml and 6 months Imaximuml will be calculated and reserve5 will
maintained within the two figurès.
Total reserves as at 31 March 2023 were £1,321.428 12022.. £899.5371. Free reserves were a surplus ol
£228.549 12022.. E77.2851. Thi5 amount ol free reserves amounts to ovèr 12 months. cover ol costs given the
¢urrent siage of the project duiing the pre-opening stage. The policy will be review8d by the Board annually. lo
assess whether the current level is still appropriate.
Change of rèporting period
The financial period lor 2022 Covered in these 51alements are lor a period longer than a year in order to b￿ng
Grimsby Youth Zone in line with the year end of the rest of the network. Due lo this the comparative amounis in
the financial statements lincluding the related notes) are not entirely comparable. Grim5by Youth Zone have the
legal authority lo change ils ieporiing period as this is permitted by the Companies Act 2006.
Page 5

GRIMSBYYOUTH ZONE
IA company limitèd by guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
8- Statement of Tru$tee$' rèsponsibilities
The Trustees (who are also the Director5 of Grfmsby Youth Zone for the purpose ol company lawl arè
responsible for preparing the Truslee5' Annual Report and the financial statements in accordance with applicable
law and United Kingdom Accounting Standards Iunited Kingdorn Generally Accepted Accounting Practic81.
Company law requirès thè Trustees to prepare financial statements lor &ach f1nancial year. which give a true and
fair view of the state ol affairs of the charitsble company and of the income 8nd expendilure. ol the charitabltr
company for that period. In preparing these financial statements. the Trustees are required to..
select 5uilable a¢¢ounb"ng policies and then apply them consistently,
observe the methods and principles in the charib.es SORP..
make judgements and estirnale5 that afe rèasonable and prudent..
state whether applicable UK Accounting Standards have been followèd, SLtbject to any material dèpartures
disclosed and explained in the financial statements.,
prepare the financial statements on ihe going concern basis unless il is inappropriate to presume that the
chariiable company will conb.nue in business.
The Truslees are responsible for keeping adequate accounbng records that disclose wilh reasonable accuracy
at any time the financial posilion DI the chan￿ble COFllpany and enable them to ènsure that the financial
statetllènts comply with the Companies Act 2006 They are also responsible lor safeguarding the asseis ol the
charitable company and hence loi taking reasonable steps for the prevents'on and detection of fraud and other
irregularities.
Th8 financial statements comply with current 5t8tutory reQUi￿rnents. the cOmpan￿S Memorandum and Artic1È5
of Association and Ihe Charities SORP.
Approved
by
order
of
the
members
12th December 2023
of
the
board
of
and signed on their btrhalf by.
Tnjslees
on
C Jensen
Page 6

GRIMSBY YOUTH ZONE
IA ¢ompany limited by guarantee)
INDEPENDENT EK4MINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Independent Examinerfs Report to th• Trust￿$ of Grimsby Youth Zonè I'the Charlty'l
I report lo thè charity Trustees on my examlnation of the accounts of the Charity for the year ended 31 March
2023.
Responsibilitlès and Basts of Report
As the Tru51ees ol the Charity land its directors for the puwposes of company lawl are r05ponsible lor the
preparatson ol thè accounts in accordance with the requirÈmènts of the Companie5 Ad 20061.the 2006 Act'l.
Having satisfied myself that thè accounts of the Charity are not requlr8d to be audited under Part 16 of the 2006
Act and are eligiblè for independent examination. I report in respect of my examination ol th& Charitls accounts
carried out under section 145 of Ihe Charitie5 A¢t 2011 1.the 2011 Act'l. In carrwng out my exarnination I have
followed the Directions given by the Ch8rity Commission under 5ecb.on 14515llbl of ihe 2011 Act.
Inde￿ndertt Examlnerfs Statement
Since the Charit15 gross income exceeded £250.000 your examiner musl be a membèr ol a body listed in
section 145 of the 2011 Acl. I confirTll that l arn qualified to undertake the examination because l arll a mefflber
of Inslitule of Chartered Accountants in England and Wales. which is one of the listed bodie5.
I have completed rny examinalion. I confimi that no matters have come lo my attenlion in connection wth the
examinai¢on giving me cause to bèli@ve'.
accounting records were not kept in respecl of Ihe Charity as required by section 386 of the 2006 Act,. or
the accounts do not accord with Ihose records.. or
thè accounts do not comply with the accounting requirements of section 396 of the 2006 Act other ihan
any requirement that the 8CGounts give a 'true and fairf view which is not a matter considered as part of
an independent examination,. or
thè accounts have not been prepared in aGwidance with the melhods and principles of the Statement of
Recommended Practice for accounb.ng and reporting by charib.es applicable lo charities preparing thelr
accounts in accordance with tho Financial Reporting Stand8rd applicable in the UK and Rèpublic of
Ireland IFRS 1021.
I have no concern5 and have come across no other matters in ¢onnection with the examination to which
attenb.on should be diawn in this report in order to enable a proper understanding of ihe accounts to be reached.
Page 7

GRIMSBY YOUTH ZONE
{A company Ilmlted by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
This report is made solely lo the Chantls Trustees, as a ￿ly. in accordance with Part 4 of the Charities
IAccounis and Reports) Regtjlations 2008. My work has been undertaken so that I might stale to the Charity's
Trustees those matters l am required lo stale to them in an Independent examinerf5 report and for no othei
pijrpose. To Ihe fullest extent permitted by law. I do not accept or assume responsibility to anyone other than the
Charity and the Charity's Trustees as a body, loi my work or for this report.
Signed..
Dated..
14th December 2023
Vicky Szulisl
ACA
Crowe U.K. LLP
Chartered Accountants
3rd floor
The Lexicon
Mounl Streel
Manchester
M2 5NT
Page 8

GRIMSBY YOUTH ZONE
(A company limited by guarantèè)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2023
Total
funds
18 Months
ended
31 March
2022
Restricted Unre5tri¢tgd
funds
funds
Total
funds
31 March
2023
31 March
2023
31 Mareh
2023
Notè
Incomè from..
Donations and legacies
Other trading activikn89
Invèstments
306,002
4,363
158,178
464,180
4,363
612
466.641
3,340
612
Totsl in¢ome
310.365
1 $8.790
469,155
469.981
Expenditure on=
Raising funds
Charitable ac(Ivilies
2,039
5.487
2.045
45,219
39,732
8.592
Total •xpfrnditure
39,738
7,526
47,264
8,592
Net movement in funds
270.627
151.264
421,891
467.389
Reconclllation of fund$=
Tolal lunds brought forward
Nel movement in lunds
822,252
270,627
77,285
151,264
899.537
421,891
438. 148
467.389
Total funds carrled forward
1,092.879
228,549
1,321.428
899.537
The Statement of Financi81 Activities includes all gains and losses recognised in the year.
The notes on pages 12 to 23 form part ol these financial statements.
Page 9

GRIMSBY YOUTH ZONE
(A company limited by guarantèè
REGISTERED NUMBER- 12210018
BALANCE SHEET
AS AT 31 MARCH 2023
2023
2022
Note
FIx8d assets
Tangible asset5
10
1,159.769
718.442
1.159,769
778,442
Current ass¢ts
Debtors
Cash al bank and In hand
55,878
1.289,882
224,600
1,345,760
224.600
Creditors.. amounts falling due within one
year
12
11,184,101)
(43.505)
Net current assets
161.659
181.095
Total assets less current liabilitiès
1.321,428
899,537
Net assèts excludit)g pension asset
1,321,428
B99.537
Total net assets
1.321,428
899.537
Charlty funds
Restricted funds
Unr&slri¢led funds
14
1.092,879
228.549
822.252
77.385
14
Total funds
1.321,428
899.537
The Charity was entitled to exemption from audit undèr séction 477 Of the Cornpaniès Act 2006.
The members have not required th8 company to obtain an 8udit for the year in question In accoidance with
section 476 of Comp8nies Act 2006.
The Trustees acknowledge their responsibilities lor complying with the requirements of the Act with r8specl to
accountlng ￿cOrdS and preparation of financial statements.
The financial statements have been prep8r8(S in accordance with the provisions applicable to enb'tie5 subi8Ct to
the small companies regime.
The
financial
statements
were
approved
and
authorised lor
issue
by the
and signed on their behalf by..
Trustees
on
12th December 2023
Page 10

GRIMSBY YOUTH ZONE
IA cornpany limrièd by guarantee)
REGISTERED NUMBER: 12210018
BALANCE SHEET ICONTINUEDI
AS AT 31 MARCH 2023
C Jen$•n
The notes on pages 12 to 23 foim part of these financial 51at8mènls.
Page11

GRIMSBY YOUTH ZONE
(A ¢ompany Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
General information
Grimsby Youth Zone is an incorporated charity, company number 12210018 and charily number 1187630.
The address ol the registed office is Cartergale House Wilkin and Chapman LLP Solicitor5. 26 Chantry
Lane, Grimsby. England. DN312LJ.
AccountSng policles
2.1 Basis of pr8paratlon of financlal statements
The financial statements have been PTapared in accordance with the Charities SORP IFRS 1021
Accounting and Rèporting by Charities. Statement of Recommended Practicè applicable to charities
preparing their accounts in accordance with the Financial Reporting Siandard applicable in the UK
and Republic ol Ireland IFRS 1021 (effective 1 October 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Gnmsby Youth Zone meets the definition Df a public benefit entity under FRS 102. Assets 8nd
liabilities are initially recognised al historical cost or IransaGlion value unless otherwise slated in thé
relevant accounting policy.
The prÈvious financial period covered in these statements are for a period longer than a year in order
to bring Grimsby Youth Zone in Fine with the year end of the rest ol the network. Due to this the
comparative amounts in the financial statements (including the related nolesl are not enti￿lY
comparable. Gnmsby Youth Zone have the legal authority to change Its reporting period as this is
perm5tted by the Companies Act 2006.
2.2 Going concern
The Charity has maintained a financially stable state over the last financial and conttnues to
do so. The Trustees have taken a number of steps lo assess the Youth Zone's ability to continue as
a going concern., all key donor5 have been contacted In order lo identify any challenges lor them in
maintaining their support and Trustees ￿re delighted that all the parties fem8in lully committed to
the project.
The Trustees believe we a￿ well on track lo securin9 the Founder Patrons required prior to O￿ning,
as well as working towards raising thé full capital requirement needed to complètè thè build.
Whilst it is never possible lo be certain of the future. Ihe Trustees consider that the Steps taken are
sufficient lo classify the charity as a going con￿￿ 8nd are confident in the Youth Zone's ability to
meet its short and medium term obligations.
2.3 In¢om•
All incorne ￿S recognised once the Charity has entitlernenl to the income. il is probable Ihat the
incorne will be received and the amount ol Income receivable can be measured feliably.
Grants are included in the Statement of financial activitses on a receivable basis. The balarn￿ ol
incorne received lor specific purposes but not expended during the period is shown in Ihe relevant
funds on the 8alance sheet. Where Income Is received In advance of entitlernent of receipt. ((5
recognition is deferred and Included in creditors as deferred income. Where entitlèment occurs
before income Is receivèd. thé income is accrued.
Page 12

GRIMSBYYOUTH ZONE
A company Ilmited by guarant••}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng policies Icontlnuedl
2.4 Expenditure
ExpenditUf@ is recognised once there 15 8 legal or constnjctive obligats.on to transfef economic benefit
to a third party. it 15 probable that 8 Iransler ol economic benefits will be required in settlement and
the amount ol Ihe obligab.on Gan be measured reliably. Expenditure is classified by actiV4ty. The costs
of each acb'vity are made up of the tolal of direct Costs and shared costs. including support costs
involved in undertaking each actsvity. Oirecl costs attributable to a single activity are allocaled directly
lo that activity.
Expenditure on r8i5ing funds includes all expenditure incu￿ed by the Charily to raise funds for its
charitable purposes and includes costs ol all fundraising aetivilies events and non-charitable trading.
Expenditu￿ on charitable aclivilies is incurred on directly undertaking the activities which further the
Charitys objectives. as well as any associated support Costs.
All expenditure is inclusive of ir￿COVer8ble VAT.
2.5 Interest receivable
Interest on funds held on deposit 15 included whèn receivable and the amount can be measured
reliably by the Charity.. this is normally upon notification of the interest paid or payable by ihe
institution with whorn the funds a￿ deposiled.
2.6 Tanglble Ilxed assets and depreciation
Tangible fixed assets costing £500 or more are c8pit8li5ed and recogni5ed when future economic
benefits are probable and Ihe cost or value ol the asset can be measured reliably.
Tangible fixed assets are iniually rewgnised at cost. Alter recognition. under the cost model. t8ngible
fixed assets are ffleasured at cost less accumulated depreciation and any accumulated impairment
105ses. Wl c05t5 Incurred to bring a tangible fixeil asset into its intended worktng condition should be
included in the measurement ol cost.
Depreciation 15 charged 50 as to allocate the cost of ￿ngIble fixed assets less their fesidual value
over their estimated useful lives. using the slraight-line fflethod.
Dep￿ciatIon is provided on the following basis..
Assets undèr construction
No depreciation
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade dlscount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand Includes cash and short-lerm highly liquid inveslments with 8 short maturity
ol three months Qf1è5s from the date of acquisition 01 opening ol the deposit or similar account.
Page 13

GRIMSBY YOUTH ZONE
{A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accountln9 policies Icontinu8dl
2.9 Liabiliti&$ and provision5
Liabilllies are recognised when there $5 an obligation at the Balance 5heei dale as a result of a past
evenl. it is probable that a Iransfer of economic benefil will be required in settlement, and the amount
ol the settlement can be estimated r81iably.
Liabilities are recognised at the amount Ihat the Charity anlicipates it will pay lo setue the debl or the
amount It has reG8ived as advanced payments for the goods or services It must provide.
Provisions are measured al the best estimate ol thè amounts required to setue the obligation. Where
the effecl ol the lime value of money is malenal, the provision Is based Dn the present value of those
amounts, discounted at the P￿-taX discount rate that reflects the risks specific to the liability. Thé
unwinding of the discount 15 recognisÈd in the Statement of financial activities as a finance G051.
2.10 Financlal instruments
The Charity only has financial as581s and financial liabilities of a kind Ihat qualify a5 basic financial
instrufflents. Basic financial instruments are init1311y rècognised at transaction value and subsequently
ea5ured al their settlement value with thè exception ol bank loans which arè subsequently
measured at amortised cost using the effective interest method.
2.11 Fund accounting
General funds are unrestricted funds which are available lor use al the discretion ol the Trustees in
furtherance of the general objecb"ve5 of the Charity and which have not been designated lor other
purposes.
Restricted funds ale ftjnds which are lo be used in accordance with specilic restricb'ons imposed by
donors or which have been raised by the Charity lor part£cular purposes. The costs of raising and
administering such funds are Gharged against the 5pecifi¢ lund. The aim and use of each restricled
fund is set out in the notes to the financial statemènts.
Investment income. gains and losses are allocated lo the appropriate fund.
Critical accounting eslimatès and areas gf judgment
Estimates and iudgments are conb"nually evaluated and are based Dn h15torical experience and other
factors. Including expectations ol future events that are believed to be reasonable under the
circumstances.
Crib'cal accounting estsmales and a55umplion5'.
The Trustees are of opinion that there are no critical accounting 6stimates and as5umplions.
Pag8 14

GRIMSBY YOUTH ZONE
IA company Ibmltèd by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Income from donatlons and legacie5
Restrlcted Unre$trl¢ted
funds
funds
Total
funds
31 March
2023
31 March
2023
31 March
2023
Donation5
Grants
275,000
31,002
158.178
433.178
31,002
306.002
158.178
464.180
Reslricted Unrestrictecl
lunds
funds
18 Months
18 Monlh5
ended
ende(Y
31 MarGh
31 March
2022
2022
Total
lunds
18 Alonlhs
ended
37 MarGh
2022
Donafions
380.000
86.641
466.641
Incomo from other trading activities
Income from fundraislng events
Restricted
funds
Total
funds
31 March
2023
31 March
2023
YPDG Fundraising
4.363
4,363
Page 15

GRIMSBY YOUTH ZONE
A company limited by guarante¢l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Income from other trading actlvities Icontlnuedl
Income from fundral$lng •v8nts Icontlnuedl
Restricted
funds
18 Months
ended
31 MaAEh
2022
Total
ftsnds
18 Months
ended
31 MarGh
2022
YPDG Fundraising
3.340
3.340
Expenditure on rai$lng fund$
Costs of raising voluntary income
rolal
lunds
t8 Moftilhs
ended
37 March
2022
Restricted Unrestrlet¢d
funds
funds
Total
funds
31 March
2023
31 March
2023
31 March
2023
Advertislng & Marketing
P.R. & Networking
Fundraising Cosls
1.368
671
1,368
671
2,039
2,045
Page 16

GRIMSBY YOUTH ZONE
IA ¢ompany limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Analysls of expendlture on charitabl¢ a¢tlvltles
Rèstrlcted Unre5trl¢ted
fund5
funds
Total
fund5
31 March
2023
31 March
2023
31 March
2023
Staff DBS checks
Insurance
Bank charges
Independent examiner fee
Staff uniform
43
352
43
352
2,088
2,088
l.T. Website & software
Member5hipsfAfilialions
Other supplies & sundry costs
Printing. postage & stationery
Mafkeling & comms
Recruitmenl
Training expense5
Trip5 and activities
Advertising & marketing
163
163
35
35
259
259
465
2.018
465
39.732
41,750
39.732
5.487
45,219
Page 17

GRIMSBY YOUTH ZONE
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ReslriGted Unreslricted
funds
funds
18 Months
18 Months
&nded
end8d
31 March
37 March
2022
2022
Total
fund5
18 Monlhs
ended
31 March
2022
Staff DBS checks
Insurance
116
923
47
716
923
Bank charges
Independent examiner fee
Staff uniform
l.T. Website & software
MembershiplAffilialions
Other supplies & sundry costs
Printing. postsge & stationery
Marketing & comms
Recruitmenl
Training expenses
Trips and activities
Advertlsing & marketing
47
1.482
484
3. 154
228
1.482
484
3. 154
228
35
35
384
600
600
21
21
30
7.050
38
30
1.050
38
1.088
8.592
Independent examinee$ rèmuneration
18 Months
ended
37 March
2022
31 March
2023
Fees payable to the Charilvs independent examiner lor the independent
examination ol the Charitvs annual accounts
2,088
7.482
Trusteès. remuneration and expen$ts
During the year. no Trustees ￿ceiVed any remuneratson or other benefiES (2022- £NIL).
Durin9 the year ended 31 March 2023. no Trustee expenses have been incurred 12022 - £NIL).
Page 18

GRIMSBY YOUTH ZONE
IA company limitèd by guarant8e}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
10. Tanglble fixed assets
Assets
undèr
tyn$truction
Cost or valuation
Al 1 April 2022
Additions
718,442
441,327
Al 31 March 2023
1.159.769
Net book valuè
At 31 March 2023
1,159,769
At 37 March 2022
718.442
11. Debtors
2023
2022
Due withirt on• yèar
Trade debtors
55,000
87B
Prepayments and accrued incom
55,878
Page 19

GRIMSBY YOUTH ZONE
IA company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
12. Creditors- Amounts falling due wlthln on• year
2023
2022
Trade creditors
A¢cmals and deferred income
345,910
838,191
5. 164
38.341
1,184.101
43.505
13. Flnan¢lal instruments
2023
2022
Financial assets
Finan¢i81 assets measufed at lair value through income and expenditure
1.345,760
224.SOO
2023
2022
Financial liabilities
Financial liabililies measU￿d at fair value through income and expenditure
1,184,101
43.505
Finanual assets measured at lair valLJe through income and expenditure Comprise of G4sh at bank and in
hand and trade debtors.
Finanoal liabilities measured al fair value through income and expenditure comprise ol trade ¢redilors and
accruals.
Page 20

GRIMSBY YOUTH ZONE
A company limited by guarant•el
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
14. Statement of funds
ststem¢nt of funds . current year
Balanc• at
31 March
2023
Balance at 1
April 2022
Income Expenditure
Unrestrlcted funds
General Funds- all funds
77.285
158,790
17.526)
228,549
Restricted funds
Reslri¢ied Funds - Capital
YPOG
Nation81 Lollery Heritage Fund
Buckingham Palace Trip
YIF - Social Investment Bijsiftess
820,000
2,252
275,000
4,363
1,095,000
806
15,8091
133,2791
16501
133,2791
650
30,352
30.352
822,252
310,36S
139,7381
1,092.879
Total of funds
899,537
469.155
147,2641 1.321.428
Reslri¢led funds - Capital these are lunds received to be used in the consluction ol the Horizon Youth
Zone in Grimsby.
The Nalion81 Lottery Heritage Fund is supporting Grimsby Youth Zr)ne with a grant of up lo £2.697,727
that ￿1] 5UPPOrt ¢apital and revenue costs to ensure the Youth Zone's appeal wilhin a Heritage Action
Zone.The grant will be claimed in 2023-34 financial year. once the lease is completed on the land.
The Youth Investment Fvnd ISIB-DCMSI is supporting Grimsby Youth Zone with a grant of up to
£7,084,170 that will support construction. lees and revenue ¢osts incurred up lo 1 April 2025.
Page 21

GRIMSBY YOUTH ZONE
A ¢ompany Ilmlted by guarant•èl
NOTES TO THE FINANCIAL STATEMENTS
FOR TPIE YEAR ENDED 31 MARCH 2023
14. Statemènt of funds Icontinuedl
Statement of fund$ . prlor year
Balance al
1 October
2020
8al8nc6 at
39 March
2022
Income Expendilure
Unrestrleted funds
General Funds- 811 funds
(1.852)
86.641
17.504)
77.285
Restricted fund5
Restricled Funds - Capital
YPDG
440.000
380.000
3.340
820.000
2.252
(1.088)
440.000
383,340
(1.088)
822.252
Total of funds
438, 148
469,981
(8.592)
899,537
15. Analysis of net asset5 betwèèn funds
Analysi5 of nèt ass•ts between fund5 - ¢urrtnt y•ar
Restricted Unreslri¢téd
funds
funds
2023
2023
Total
fund$
2023
Tangib18 fixed asseis
Debtors due after more than one year
CLJrrenl assels
Creditors due wilhin one year
1,125,352
34,417
1,159,769
55.000
ss,000
1,290.760
1,290,760
32,4731 11,151,628) 11,184,101)
Total
1,092,879
228,549
1,321.428
Page 22

GRIMSBY YOUTH ZONE
IA ¢ompany limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Analysls of net assets between funds Ironlinu¢dl
Analysis of net assets b¢hvg•n funds- prfor year
Restricled Unrestricted
funds
funds
2022
2022
Total
funds
2022
Tangible fixed assets
CUr￿n1 asset5
Creditors due within one year
718.442
718.442
224 600
(43.505)
103.810
120. 790
f43.505}
Total
822.252
77.285
899.537
16.
Related party transactions
The Charitable ¢ompany has not entered into any related P8fty transaction during the year, nor are there
any outslanding balan￿S owing between related parties and the Charitable company at 31 March 2023.
Page 23