y-notts (Registered charity, number 224651) Financial statements for the year ended 31 March 2025
| Page | Contents |
|---|---|
| 2 - 3 | Trustees’ annual report |
| 4 | Independent examiner’s report |
| 5 | Receipts & payments account |
| 6 | Statement of assets & liabilities |
| 7 | Notes to the accounts |
y-notts Trustees’ annual report for the year ended 31 March 2025
Full name y-notts
Registered charity number 224651
Trustees Lynne Morgan, Chairman Madge Marshall Sarah Read Natasha McDonald Sonia Rowe Paul Jackson Vivien Sadler Diana Frempong Ben Waymark Neil Robinson, Treasurer
Independent examiner
John O’Brien, employee of Community Accounting Plus, Units 1 & 2 North West, 41 Talbot Street, Nottingham, NG1 5GL
Governance and management
The charity is operated under the rules of its Deed of Variation dated 22/11/2007 and most recently amended constitution adopted on 23/11/2011.
Recruitment is currently referral by current trustee recommendation or advertisement if required. Upon appointment of trustees a majority vote is required.
Objectives and activities
The objective of the charity is to reduce poverty and advance education and training amongst young people and groups based in Nottinghamshire.
Public benefit statement
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'.
Summary of the main activities undertaken for the public benefit
The charity gives financial assistance in the form of grants to young people usually aged between 16 to 30 for the purpose of furthering their training and personal development. Those people wishing to make application should be resident in the Nottinghamshire area.
Our grants are available to all disadvantaged young people in the county of Nottinghamshire regardless of race, creed, ethnicity or previous history.
Summary of the main achievements during the period
During the period x35 applications were processed with x20 granted, x10 declined and x5 were withdrawn. Total paid out during the period £24,415.
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y-notts
Financial review
Our investments have performed well against the volatile world market and the income has enabled us to continue to support the applications received. The surplus income has been re-invested to maximise our future income.
The charity’s policy on reserves
Our policy on reserves is that unrestricted general funds not committed are invested in interest bearing bank accounts or income generating investment funds until required by the Charity. The Trustees ensure that enough funds are held in reserve to be able to continue the present level of activity for a period of up to one year. This policy is reviewed annually.
Financial risks
Our income is reliant upon the success, or otherwise, of investments, some of which are linked to the stock market. These are managed on behalf of the Charity by Charles Stanley (investment managers).
Signed on behalf of the charity’s trustees:
Signed ______ Date _ Lynne Morgan, Trustee
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Independent examiner’s report to the trustees of y-notts for the year ended 31 March 2025
I report to the trustees on my examination of the accounts of y-notts (the charity) for the year ended 31 March 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts 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 matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records.
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.
Signed ____ Date _______ John O’Brien MSc, FAIA, FCIE Employee of Community Accounting Plus
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y-notts Receipts & payments account for the year ended 31 March 2025
| 2024 (as restated) £ Receipts 39813 Investment income 12 Bank interest 39825 Total receipts Payments 35 Equipment, repairs & renewals 100 Gifts 21717 Grants & donations awarded 216 Home office space 552 Hospitality & refreshments 708 Independent examination fee 123 Insurance 20000 Investment portfolio - Marketing 191 Memberships & subscriptions 302 Payroll fees 115 Printing, postage & stationery 94 Room hire 360 Telephone & internet 5 Travel 7392 Wages, NI & pension 1583 Website 53493 Total payments (13668) Net receipts/(payments) 29068 Cash funds at start of this period 15400 Cash funds at end of this period |
2025 £ 38533 110 |
|---|---|
| 38643 | |
| 1864 75 24415 216 597 786 124 - 4320 558 310 362 182 360 24 8051 4624 |
|
| 46868 | |
| (8225) 15400 |
|
| 7175 |
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y-notts Statement of assets and liabilities at 31 March 2025
| 2024 (as restated) £ Cash assets Note 15400 Bank accounts 15400 Other monetary assets 9636 Debtors 2 1117207 Investments 3 1126843 Assets retained for the charity’s own use General equipment. Liabilities (6114) Creditors 4 (6114) |
2025 £ 7175 |
|---|---|
| 7175 | |
| 9698 1150088 |
|
| 1159786 | |
| (7718) | |
| (7718) |
These financial statements are accepted on behalf of the charity by:
Signed _____ Date _____ Neil Robinson, Trustee
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y-notts Notes to the accounts for the year ended 31 March 2025
1. Receipts & payments accounts
Receipts and payments accounts contain a summary of money received and money spent during the period and a list of assets and liabilities at the end of the period. Usually, cash received and cash spent will include transactions through bank accounts and cash in hand.
2. Debtors
| £ | |
|---|---|
| Investment income | 9638 |
| Prepayment: Insurance | 60 |
| 9698 |
3. Investments
| Capital portfolio (market value) Capital account |
£ 1144538 5550 |
|---|---|
| 1150088 |
The portfolio of investments is managed by Charles Stanley & Co. Limited. The investment management fee charged for the year out of the capital accounts was £8,335.
4. Creditors
| Grants & donations awarded Independent examination fee Wages, NI & pension (HMRC) Wages, NI & pension (pension) |
£ 6662 816 182 58 |
|---|---|
| 7718 |
5. Trustees’ remuneration
Trustees received no expenses, remuneration or benefits in this period.
6. Related party transactions
There were no related party transactions during the period.
7. Glossary of terms
Creditors: These are amounts owed by the charity, but not paid during the accounting period.
Debtors: These are amounts owed to the charity, but not received in the accounting period.
Prepayments: These are services that the charity has paid for in advance, but not used during the accounting period.
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