**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During the period x35 applications were processed with x20 granted, x10 declined and x5 were withdrawn.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.
2
## **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
3
## **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:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. 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
4
## **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**|
5
## **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
6
## **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.
7