CHARITY REGISTRATION NUMBER: 1207223
Gateshead Youth Project Unaudited Financial Statements 30 November 2025
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Gateshead Youth Project
Financial Statements
Year ended 30 November 2025
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
Gateshead Youth Project
Trustees' Annual Report
Year ended 30 November 2025
The trustees present their report and the unaudited financial statements of the charity for the year ended 30 November 2025.
Reference and administrative details
Registered charity name Gateshead Youth Project Charity registration number 1207223 Principal office 30 Denmark Street Gateshead NE8 1NQ The trustees M Dresdner J Kaufman (Resigned 5 July 2026) P Abenson G Heilpern (Appointed 5 July 2026) Independent examiner Mr Howard Schwalbe A C A 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
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Gateshead Youth Project
Trustees' Annual Report (continued)
Year ended 30 November 2025
Structure, governance and management
Gateshead Youth Project is constituted by a constitution and is a Charitable Incorporated Organisation (CIO). It was registered as a charity on 27 February 24 with a charity number 1207223.
Recruitment and appointment of new trustees would be in line with the constitution and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
There is no chief executive officer. The day-to-day affairs are undertaken by the trustees. All major decisions are taken collectively by the trustees, and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.
There are no policies for the induction or training of new trustees.
Risk review
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at the current level, combined with an annual review of controls over the key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that there are established systems to mitigate the significant risks.
The risks faced by the trust are principally operational risks from ineffective grant making. These risks are managed by the trustees researching potential beneficiaries before granting donations.
Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all grants.
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Gateshead Youth Project
Trustees' Annual Report (continued)
Year ended 30 November 2025
Objectives and activities
The objects of the CIO are as follows:
To act as a resource for children and young people living in Gateshead and the surrounding areas by providing advice and assistance and organising programmes of physical, educational and other activities as a means of:
a) advancing in life and helping children and young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;
b) providing recreational and leisure time activity in the interests of social welfare for children and young people with a view to improving the conditions of life of such persons; including by the provision of grants to other organisations with similar objects.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
Grant making policy
There were no grants paid during the year.
The trustees consider they have met the public benefit test and outline these achievements below.
The trustees will set up a system to measure the success of achieving the stated aims in future periods.
The trustees consider the shorter-term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.
Achievements and performance
The charity received £27,800 (2024: £4,981) in donations during the year of which £5,280 (2024: £NIL) was paid out by way of direct costs, grants and support costs. These activities and grants were made in line with the stated objects of the charity.
During the year, the charity bought a building on a long leasehold from Gateshead Council to be used for youth activities.
The charity has low governance costs comprising professional fees.
Grants made during the year are if applicable as detailed in the accounts.
There were no material fundraising costs during the year.
There were no related party transactions during the year.
There was a net income and net movement in funds for the year amounting to £22,520 (2024: £4,981).
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Gateshead Youth Project
Trustees' Annual Report (continued)
Year ended 30 November 2025
Financial review
Reserves policy
The unrestricted fund represents the unrestricted funds arising from past operating results.
The trustees are satisfied that the balance of the fund is an acceptable level of reserves given the nature of revenue receipts against grants payable and will aim in future to have more reserves in hand for any eventuality.
In considering the limited financial obligations of the charity, the trustees have resolved to maintain a minimum reserve roughly equal to the net current assets of the charity.
The free reserves being the net current liabilities stand at (£44,156), (2024: £4,981), all of which are unrestricted. The trustees are aware of the net current liabilities that are a result of the amounts owing less than one year for the purchase of the long leasehold. The trustees are confident they will be able to meet this obligation through increased fundraising and rental income of underutilised space in the building.
Total funds held by the charity at the year-end were £27,501 (2024: £4,981), all of these are unrestricted.
The trustees' annual report was approved on 2 September 2026 and signed on behalf of the board of trustees by:
P Abenson Trustee
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Gateshead Youth Project
Independent Examiner's Report to the Trustees of Gateshead Youth Project
Year ended 30 November 2025
I report to the trustees on my examination of the financial statements of Gateshead Youth Project ('the charity') for the year ended 30 November 2025.
Responsibilities and basis of report
As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
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.
Mr Howard Schwalbe ACA
Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
2 September 2026
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Gateshead Youth Project
Statement of Financial Activities
Year ended 30 November 2025
| Period | from | ||||
|---|---|---|---|---|---|
| 27 Feb | 24 to | ||||
| Year to 30 Nov 25 | 30 Nov 24 | ||||
| Unrestricted | |||||
| funds | Total funds | Total | funds | ||
| Note | £ | £ | £ | ||
| Income and endowments | |||||
| Donations and legacies | 4 | – | – | 4,981 | |
| Investment income | 5 | 24,000 | 24,000 | – | |
| Other income | 6 | 3,800 | 3,800 | – | |
| ---------------------------- | ---------------------------- | ----------------------- | |||
| Total income | 27,800 | 27,800 | 4,981 | ||
| ============================ | ============================ | ======================= | |||
| Expenditure | |||||
| Expenditure on charitable activities | 7,8 | 5,280 | 5,280 | – | |
| ---------------------------- | ---------------------------- | ----------------------- | |||
| Total expenditure | 5,280 | 5,280 | – | ||
| ============================ | ============================ | ======================= | |||
| ---------------------------- | ---------------------------- | ----------------------- | |||
| Net income and net movement in funds | 22,520 | 22,520 | 4,981 | ||
| ============================ | ============================ | ======================= | |||
| Reconciliation of funds | |||||
| Total funds brought forward | 4,981 | 4,981 | – | ||
| ---------------------------- | ---------------------------- | ----------------------- | |||
| Total funds carried forward | 27,501 | 27,501 | 4,981 | ||
| ============================ | ============================ | ======================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 14 form part of these financial statements.
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Gateshead Youth Project
Statement of Financial Position
30 November 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 13 | 666,904 | – |
| Current assets | |||
| Debtors | 14 | 10,000 | – |
| Cash at bank and in hand | 5,077 | 4,981 | |
| ---------------------------- | ----------------------- | ||
| 15,077 | 4,981 | ||
| Creditors: amounts falling due within one year | 15 | 59,233 | – |
| ---------------------------- | ----------------------- | ||
| Net current liabilities | (44,156) | 4,981 | |
| -------------------------------- | ----------------------- | ||
| Total assets less current liabilities | 622,748 | 4,981 | |
| Creditors: amounts falling due after more than one year | 16 | 595,247 | – |
| -------------------------------- | ----------------------- | ||
| Net assets | 27,501 | 4,981 | |
| ================================ | ======================= | ||
| Funds of the charity | |||
| Unrestricted funds | 27,501 | 4,981 | |
| ---------------------------- | ----------------------- | ||
| Total charity funds | 17 | 27,501 ============================ |
4,981 ======================= |
These financial statements were approved by the board of trustees and authorised for issue on 2 September 2026, and are signed on behalf of the board by:
P Abenson Trustee
The notes on pages 8 to 14 form part of these financial statements.
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Gateshead Youth Project
Notes to the Financial Statements
Year ended 30 November 2025
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is a Charitable Incorporated Organisation. The address of the principal office is 30 Denmark Street, Gateshead NE8 1NQ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are net current liabilities stand of (£44,156).
The trustees are aware of the net current liabilities that are a result of the amounts owing less than one year for the purchase of the long leasehold. The trustees are confident they will be able to meet this obligation through increased fundraising and rental income of underutilised space in the building.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates and assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.
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Gateshead Youth Project
Notes to the Financial Statements (continued)
Year ended 30 November 2025
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Gateshead Youth Project
Notes to the Financial Statements (continued)
Year ended 30 November 2025
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
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Gateshead Youth Project
Notes to the Financial Statements (continued)
Year ended 30 November 2025
3. Accounting policies (continued)
Financial instruments (continued)
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | – | – | 4,981 | 4,981 |
| ============== | ============== | ======================= | ======================= | |
| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Income from investment properties | 24,000 | 24,000 | – | – |
| ============================ | ============================ | ============== | ============== | |
| Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Other income | 3,800 | 3,800 | – | – |
| ======================= | ======================= | ============== | ============== | |
| Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Support costs | 5,280 | 5,280 | – | – |
| ======================= | ======================= | ============== | ============== |
5. Investment income
6. Other income
7. Expenditure on charitable activities by fund type
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Gateshead Youth Project
Notes to the Financial Statements (continued)
Year ended 30 November 2025
8. Expenditure on charitable activities by activity type
| Support | Total funds | Total fund | |
|---|---|---|---|
| costs | 2025 | 2024 | |
| £ | £ | £ | |
| Charitable Activities. | 4,020 | 4,020 | – |
| Governance costs | 1,260 | 1,260 | – |
| ----------------------- | ----------------------- | -------------- | |
| 5,280 | 5,280 | – | |
| ======================= | ======================= | ============== | |
| Analysis of support costs | |||
| Analysis of | |||
| support costs | Total 2025 | Total 2024 | |
| £ | £ | £ | |
| General office | 4,020 | 4,020 | – |
| Governance costs | 1,260 | 1,260 | – |
| ----------------------- | ----------------------- | -------------- | |
| 5,280 | 5,280 | – | |
| ======================= | ======================= | ============== | |
| Independent examination fees | |||
| Period from | |||
| Year to | 27 Feb 24 to | ||
| 30 Nov 25 | 30 Nov 24 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 900 ============== |
– ============== |
9. Analysis of support costs
10. Independent examination fees
11. Staff costs
The average head count of employees during the year was Nil (2024: Nil).
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
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Gateshead Youth Project
Notes to the Financial Statements (continued)
Year ended 30 November 2025
13. Tangible fixed assets
| Long | |||
|---|---|---|---|
| leasehold | |||
| property | |||
| £ | |||
| Cost | |||
| At 1 December 2024 | – | ||
| Additions | 666,904 | ||
| -------------------------------- | |||
| At 30 November 2025 | 666,904 | ||
| ================================ | |||
| Depreciation | |||
| At 1 December 2024 and 30 November 2025 | – | ||
| ================================ | |||
| Carrying amount | |||
| At 30 November 2025 | 666,904 | ||
| ================================ | |||
| At 30 November 2024 | – | ||
| ================================ | |||
| 14. | Debtors | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Other debtors | 10,000 | – | |
| ============================ | ============== | ||
| 15. | Creditors: amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Accruals and deferred income | 900 | – | |
| Other creditors | 58,333 | – | |
| ---------------------------- | -------------- | ||
| 59,233 | – | ||
| ============================ | ============== | ||
| 16. | Creditors: amounts falling due after more than one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Other creditors | 595,247 | – | |
| ================================ | ============== |
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Gateshead Youth Project
Notes to the Financial Statements (continued)
Year ended 30 November 2025
17. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | 01 | At 30 | |||
| Dec 2024 | Income | Expenditure | Nov 2025 | ||
| £ | £ | £ | £ | ||
| General funds | 4,981 | 27,800 | (5,280) | 27,501 |
|
| ======================= | ============================ | ======================= | ============================ | ||
| At | 27 | At 30 | |||
| Feb 2024 | Income | Expenditure | Nov 2024 | ||
| £ | £ | £ | £ | ||
| General funds | – | 4,981 | – | 4,981 | |
| ============== | ======================= | ============== | ======================= | ||
| Analysis of net assets between funds | |||||
| Unrestricted | Total Funds | ||||
| Funds | 2025 | ||||
| £ | £ | ||||
| Tangible fixed assets | 666,904 | 666,904 | |||
| Current assets | 15,077 | 15,077 | |||
| Creditors less than 1 year | (59,233) | (59,233) |
|||
| Creditors greater than 1 year | (595,247) | (595,247) |
|||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 27,501 | 27,501 | |||
| ================================ | ================================ | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2024 | ||||
| £ | £ | ||||
| Tangible fixed assets | – | – | |||
| Current assets | 4,981 | 4,981 | |||
| Creditors less than 1 year | – | – | |||
| Creditors greater than 1 year | – | – | |||
| ----------------------- | ----------------------- | ||||
| Net assets | 4,981 | 4,981 | |||
| ======================= | ======================= |
18. Analysis of net assets between funds
19. Related parties
Mr P Abenson, trustee of Gateshead Youth Project, is also a trustee of Gateshead Cheder Ltd. During the year, the charity rented space to the Gateshead Cheder Ltd at £10,000. This was still owing at the year end.
Additionally, Gateshead Cheder Ltd paid for refurbishment of the building owned by Gateshead Youth Project to the value of £166,904. This was still owed by the charity at the year end.
20. Taxation
Gateshead Youth Project is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
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