Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
Charity registration number: 229988
## North West Young People's Development Trust
Annual Report and Financial Statements for the Year Ended 31 March 2025
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Statement of Trustees' Responsibilities|5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 to 15|
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Reference and Administrative Details**
|**Trustees**|Mrs K M Barton JP FCA|
|---|---|
||Mr N J Clough LLB|
||Mr M J Hanson BA FCA ACIB|
||Ms W Priscott|
||Mr J C Barnett|
|**Chair of Trustees**|Mrs KM Barton JP FCA|
|**Charity Administrator**|Mr M J Hanson BA FCA ACIB|
|**Charity Registration Number**|229988|
|**Principal Office**|16 Eden Park Road|
||Cheadle Hulme|
||Cheadle|
||Cheshire|
||SK8 6RG|
|**Independent Examiner**|Menzies LLP|
||Chartered Accountants|
||One Express|
||1 George Leigh Street|
||Ancoats|
||Manchester|
||M4 5DL|
|**Solicitors**|Bromleys Solicitors LLP|
||50 Wellington Road|
||Ashton-under-Lyne|
||Lancashire|
||OL6 6XL|
Page 1
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Trustees' Report**
The Trustees present the annual report together with the financial statements of the Charity for the year ended 31 March 2025.
## **Objectives and activities**
## _**Objectives, strategies and activities**_
The NWYPDT is an independent grant-making charitable trust. Its principal objective is to fund organisations who work to achieve positive change in the lives of young people within the North West of England who face challenges in achieving their potential.
The Trust does not itself directly engage in the provision of services to Young People, nor does it engage in fund raising activities. Instead, its strategy is to focus on managing and protecting its investment funds effectively so as to generate sustainable income to support grant making activity over the longer term.
During the year the Trust distributed grants totalling £149,124 (2024: £99,190) to a total of 12 organisations who it felt had the ability to drive change and make a long-term difference to young peoples' lives.
## _**Public benefit**_
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
The year to 31 March, 2025 saw continuing and significant fluctuations within investment markets. Previous years had seen economic uncertainty and higher rates of inflation due to the impact of the War in Ukraine and rising fuel prices. During 2025 these factors continued to undermine market confidence and were significantly compounded by the generally negative reaction of world markets to what were perceived to be inconsistent policies announced by the incoming American Government Administration, particularly with regard to its proposed implementation of trade tariffs and their threatened withdrawal from previously agreed international agreements and working partnerships.
Throughout this period Trustees monitored these developments and worked closely with the Trust’s two firms of Investment Managers to ensure that our Investment Policies and positions were kept under review and that appropriate measures were taken to mitigate the underlying risks. As a result of this, by the end of the year the fall in the value of the Trust’s Investments held in our two portfolios (which totalled £6,352,839 at the year-end) had been limited to £172,285. Since the year-end there has been some recovery in portfolio values, however the Trustees believe that substantial uncertainties remain within world markets and so we have an expectation that there will be continuing, and significant, fluctuations well into the future.
Against this backdrop, Trustees continue to fulfill the Trust’s charitable purpose by seeking to maintain an effective level of grant support without compromising the Trust’s capital position. We believe that our careful monitoring of our two investment portfolios, both of which have a modest risk profile, has been proven to have been effective in this regard and we continue to be diligent and proactive in this regard. We are currently undertaking an in depth comparative review of the performance of our two Investment Managers to ensure that the performance of each remains at the level required to satisfy the Trust’s needs and objectives.
Page 2
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Trustees' Report (continued)**
During 2023 the Trust obtained an independent valuation on the land held for many years at Garstang Road, Blackpool which the Trustees had not known the original cost value of. The value of the land at the 31 March 2023 year end was deemed to be £650,000. During the year to 31 March 2024 a conditional sale of the land was negotiated at this level which was subject to an application for planning permission submitted by the intended purchaser to the local authority being successful. In July 2025 this application was granted however at the date of this report the proposed purchaser has yet to meet their contractual commitment to complete the purchase. Having informally discussed the current value of the land with local agents Trustees believe that its current value is not less than the originally determined sales value.
## **Financial review**
The fair value of the Trust’s investments at 31st March 2025 was £ 6,352,839 (2024: £6,526,987).
The Trust’s net surplus for the year, before unrealised investment losses, was £59,054 (2024: £93,111).
The net decrease in funds, after taking into account unrealised investment losses of £172,285, was £113,231.
## **Going concern**
The Trustees manage the assets of the Trust on a conservative basis and ensure that over the longer-term the level of return on its assets is sufficient to sustain the level of grants distributed without diminishing its reserves.
It manages the risks it faces appropriately and the Trustees are not aware of any long-term uncertainties which have not been mitigated appropriately.
On this basis the Trustees believe that the Trust continues to operate as a going concern.
## _**Policy on reserves**_
The Trust’s reserves at the year end, which are all unrestricted, totalled £7,725,096 (2024: £7,838,327). Investments totalled £7,002,831 (2024: £7,176,986) which leaves free reserves of £722,257 (2024: £661,341.
The Trustees seek to maintain a level of reserves which will allow the Trust to maintain its current level of grants making whilst recognising and safeguarding against the negative impact of inflation and potential swings and variations in investment returns over time.
## _**Investment policy and objectives**_
The Trustees work in conjunction with two separate professional investment managers when formulating investment policy and do not themselves directly deal in investments.
Each Investment Manager has an individually agreed Investment Strategy which defines the objectives of the portfolio, the agreed risk appetite and desired investment profile and has a mandate to determine which investments should be held within that framework.
The two investment management firms appointed by the Trust are RBC Brewin Dolphin and CCLA Investment Management. They have each been allocated a separate tranche of the Trust’s investment funds in order to provide comparatives of performance and alternative market insights.
Page 3
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Trustees' Report (continued)**
## **Structure, governance and management**
## _**Nature of governing document**_
The Trust was established and regulated by indenture dated 29 September 1856 and subsequently amended by a scheme of the Charity Commissioners in 1876 and by schemes made by the Board of Education in 1903 and 1925.
In 1994 the Trust’s powers were extended and the scheme was registered with the Charity Commission on 15 February 1994. The charity’s name was changed to North West Young People’s Development Trust.
## _**Recruitment and appointment of Trustees**_
The Trustee Body is responsible for maintaining effective Board succession strategies and for the Recruitment, appointment and induction and training of new trustees. The Trust seeks to maintain the necessary range of skills and experience within the Trustee Body to ensure that it is effectively managed and meets the charitable objectives.
The charity and its property are administered and managed by the Body of Trustees listed on page 1.
On the 28 August 2024 Jeremy Barnett was appointed as a Trustee which increased the number of trustees serving at the year-end (and at the date of this Trustees’ Report) to 5.
Trustees are appointed for a term of 5 years by a resolution of the Trustees passed at a special meeting. Trustees meet at least four times a year.
The Trust does not have any employees.
The annual report was approved by the Trustees of the Charity on 14 January 2026 and signed on its behalf by:
......................................... Mrs K M Barton JP FCA Chair of Trustees
Page 4
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Statement of Trustees' Responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 5
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Independent Examiner's Report to the trustees of North West Young People's Development Trust**
I report to the Trustees on my examination of the accounts of North West Young People's Development Trust for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the Charity Trustees of North West Young People's Development Trust 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 North West Young People's Development Trust'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 material 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 North West Young People's Development Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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.
...................................... Helen Binns FCA Menzies LLP Chartered Accountants One Express 1 George Leigh Street Ancoats Manchester M4 5DL
14 January 2026
Page 6
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
**Statement of Financial Activities for the Year Ended 31 March 2025**
|**Note**
**Income and Endowments from:**
Investment income
2
Total income
**Expenditure on:**
Raising funds
3
Charitable activities
4
Total expenditure
Net income
**Other recognised gains and losses**
Other gains/losses
Gains/losses on investment assets
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
13|**Unrestricted**
**funds**
**£**
228,002
228,002
(12,731)
(156,217)
(168,948)
59,054
-
(172,285)
(113,231)
7,838,327
7,725,096|**Total**
**2025**
**£**
228,002
228,002
(12,731)
(156,217)
(168,948)
59,054
-
(172,285)
(113,231)
7,838,327
7,725,096|**Total**
**2024**
**£**
210,131|
|---|---|---|---|
||||210,131|
||||(12,367)
(104,653)|
||||(117,020)|
||||93,111
(5,405)
571,790|
||||659,496
7,178,831|
||||7,838,327|
All of the Charity's activities derive from continuing operations during the above two periods.
The notes on pages 9 to 15 form an integral part of these financial statements. Page 7
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **(Registration number: 229988) Balance Sheet as at 31 March 2025**
|**Note**
**Fixed assets**
Investments
11
**Current assets**
Debtors
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
12
**Net current assets**
**Net assets**
**Funds of the Charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
13|**2025**
**£**
7,002,839
1,378
732,246
733,624
(11,367)
722,257
7,725,096
7,725,096
7,725,096|**2024**
**£**
7,176,986
-
676,576|
|---|---|---|
|||676,576
(15,235)|
|||661,341|
|||7,838,327|
|||7,838,327|
|||7,838,327|
The financial statements on pages 7 to 15 were approved by the Trustees, and authorised for issue on 14 January 2026 and signed on their behalf by:
......................................... Mrs K M Barton JP FCA Chair of Trustees
The notes on pages 9 to 15 form an integral part of these financial statements. Page 8
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
North West Young People's Development Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
## **Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Interest on funds held on deposit is included when receivable and the amount cna be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the diviidend has been declared and notification has been received of dividend due. This is normally upon notification by the investment advisor.
## _**Investment income**_
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **Expenditure**
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
The charity is not registered for VAT, therefore expenditure is accounted for inclusive of VAT.
## _**Raising funds**_
The costs of raising funds consist of insurance costs, repairs and maintenance costs associated with the income receivable on investment properties and investment management costs.
Page 9
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **1 Accounting policies (continued)**
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## _**Grant expenditure**_
Grants payable are payments made to third parties in furtherance of the charitable objects of the Trust. Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Investment properties**
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
## **Fixed asset investments**
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the Charity.
## **Financial instruments**
## _**Classification**_
Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its liabilities.
Page 10
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **2 Investment income**
|Investment property income
Income from listed Investments
Interest receivable and similar income;
Interest receivable on bank deposits|**Unrestricted**
**funds**
**General**
**£**
4,354
195,034
28,614
228,002|**Total**
**2025**
**£**
4,354
195,034
28,614
228,002|**Total**
**2024**
**£**
3,875
186,086
20,170|
|---|---|---|---|
||||210,131|
## **3 Expenditure on raising funds**
## **a) Costs of generating funds**
|**Note**
Sundry expenses
Insurance
Repairs and maintenance
Brewin Dolphin management fees|**Unrestricted**
**funds**
**General**
**£**
480
496
-
11,755
12,731|**Total**
**2025**
**£**
480
496
-
11,755
12,731|**Total**
**2024**
**£**
41
446
1,388
10,492|
|---|---|---|---|
||||12,367|
Page 11
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **4 Expenditure on charitable activities**
|**Note**
Grant funding of activities
6
Allocated support costs
5
Governance costs
5|**Unrestricted**
**funds**
**General**
**£**
149,124
1,806
5,287
156,217|**Total**
**2025**
**£**
149,124
1,806
5,287
156,217|**Total**
**2024**
**£**
99,190
1,217
4,246|
|---|---|---|---|
||||104,653|
## **5 Analysis of governance and support costs**
## **Support costs**
|Office expenses
Website costs
Legal and professional fees
**Governance costs**
Independent examiner fees
Examination of the financial statements
Other fees paid to examiners
Trustees expenses
Trustee insurance
Bank Charges|**Unrestricted**
**funds**
**General**
**£**
300
468
1,038
1,806
**Unrestricted**
**funds**
**General**
**£**
2,000
1,600
983
632
72
5,287|**Total**
**2025**
**£**
300
468
1,038
1,806
**Total**
**2025**
**£**
2,000
1,600
983
632
72
5,287|**Total**
**2024**
**£**
225
418
574|
|---|---|---|---|
||||1,217|
||||**Total**
**2024**
**£**
1,800
1,500
243
631
72|
||||4,246|
Page 12
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
**Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **6 Grant-making**
## **Analysis of grants**
|**Analysis**
Outward Bound Trust
MyBnk
Music International
Manchester YMCA
GMYN
Seashell Trust
Safari Kids Club
Power 2 Limited
Blackpool Community Trust
Aliya Youth Project
Black Girls Hike
Onside Preston
National House Project
Talk,Listen,Change
Boathouse Youth Project|**2025**
**£**
22,750
-
7,000
-
10,000
15,000
-
15,000
10,000
10,234
14,640
10,000
7,500
12,000
15,000
149,124|**2024**
**£**
22,750
15,000
7,000
23,000
10,000
15,000
6,440
-
-
-
-
-
-
-
-|
|---|---|---|
|||99,190|
## **7 Indemnity Insurance**
Trustees indemnity insurance at a cost of £632 was held during the year to 31 March 2025 (2024: £632) to indemnify the trustees against potential claims.
## **8 Related party transactions**
There were no related party transactions in the year.
## **9 Trustees remuneration and expenses**
No Trustees, nor any persons connected with them, have received any remuneration from the Charity during the year.
Expenses of £983 (2024: £243) were incurred in respect of the trustees' meeting expenses.
Page 13
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **10 Independent examiner's remuneration**
|**10 Independent examiner's remuneration**|||
|---|---|---|
|Examination of the financial statements
**Other fees to examiners**
All other services|**2025**
**£**
2,000
1,600|**2024**
**£**
1,800|
|||1,500|
## **11 Fixed asset investments**
|**Cost or Valuation**
At 1 April 2024
Additions
Disposals
Net investment gains
Fair value at 31 March 2025
Historical cost at 31 March 2025|**Freehold Land**
**£**
650,000
-
-
-
650,000
-|**Investment**
**Funds**
**£**
6,526,987
370,019
(364,648)
(179,519)
6,352,839
4,653,969|**Total**
**£**
7,176,987
370,019
(364,648)
(179,519)|
|---|---|---|---|
||||7,002,839|
||||4,653,969|
In February 2022, the Trustees obtained an independent valuation of land held at Garstang Road, Blackpool.The trustees consider that this valuation remains appropriate.
## **12 Creditors: amounts falling due within one year**
|Other creditors
Accruals|**2025**
**£**
6,291
5,076
11,367|**2024**
**£**
8,735
6,500|
|---|---|---|
|||15,235|
Page 14
Docusign Envelope ID: 9EBD681A-B8C8-4531-8E2A-B70DFC34317A
## **North West Young People's Development Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **13 Funds**
|**Unrestricted funds**
General
**Unrestricted funds**
General|**Balance at 1**
**April 2024**
**£**
7,838,327
**Balance at 1**
**April 2023**
**£**
7,178,831|**Incoming**
**resources**
**£**
228,002
**Incoming**
**resources**
**£**
210,131|**Resources**
**expended**
**£**
(168,948)
**Resources**
**expended**
**£**
(117,020)|**Other**
**recognised**
**gains/(losses)**
**£**
(172,285)
**Other**
**recognised**
**gains/(losses)**
**£**
566,385|**Balance at**
**31 March**
**2025**
**£**
7,725,096|
|---|---|---|---|---|---|
||||||**Balance at**
**31 March**
**2024**
**£**
7,838,327|
## **14 Prior year Statement of Financial Activities**
|**Note**
**Income and Endowments from:**
Investment income
2
Total income
**Expenditure on:**
Raising funds
Charitable activities
Total expenditure
Gains/losses on investment assets
Net income
**Other recognised gains and losses**
Other gains/losses
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
13|**Unrestricted**
**funds**
**£**
210,131
210,131
(12,367)
(104,653)
(117,020)
571,790
664,901
(5,405)
659,496
7,178,831
7,838,327|**Total**
**2024**
**£**
210,131|
|---|---|---|
|||210,131|
|||(12,367)
(104,653)|
|||(117,020)
571,790|
|||664,901
(5,405)|
|||659,496
7,178,831|
|||7,838,327|
Page 15