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2021-08-31-accounts

Pages
Trustees'
annual
report (incorporating		 the Directors' report) 1to 11
Independent
auditor's		 report to the members 12to 15
Statement
of financial		 activities (including income and
expenditure
account)		 16
Statement
offinancial		 position 17
Notes to the financial statements 18to 27

The Trustees, who are The Trustees, who are The Trustees, who are also the Directors for the purposes Directors for the purposes Directors for the purposes of company law, present their report and the law, present their report and the
financial statements of the charity for the year ended 31 August 2021.
Reference and administrative details
Registered charity name Hitchin Youth Trust
Charity registration number 302398
Company rag)straiten number 00399872
Principal oNce and
offic		 registered Lambourne
House
111Walsworth
Road
Hitchin
Hertfordshlre
SG49SP
The trustees
Mr P AT Kelly
Mr AJ Hardy
MrSJ Nlilson (Resigned 24n November 2021)
Mrs J Morgan
Mr D R Mclntosh
Mr T C Stalkartt
Mr
I R Hankln
Miss L Evans
Mrs C Skeels
Mr M Emmerson
Mrs S Brown
Mrs AJ Mills
Mr J G Edwards
Mrs T Hoque
Mrs J Donnelly
Mr L Emirali (Resigned 5n January 2022)
Ms K Bennet
Mrs SWatkinson (Appointed 24n November 2021)
Company secretary Mr D RMdntosh
Auditor Hicks and Company
Chartered
Accountants		 and Statutory Auditors
First Floor
99Bancroft
Hitchin
Hertfordshire
SG5 1NQ
Bankers Barclays Bank
5(6 High Street
Hitchln
Hertfordshire
SG5 1BJ

Grant Aid awards approved during the year during the year during the year were:
2021 2020
E 8
Organisatlonal
awards		 20,593 36,186
Organisational
awards		 —Mental Health Recovery
(COVID-19 support) 13,000
Organisational
awards		 —Hitchln Food Provision Team
(COVID-19 support) 12,000
Personal grants 18,292 20,687
School trip grants 4,294 3,339
Bursary awards 4,506 6,150
Tracy Ryan Hardship Fund 821 659
Photocopylng
for Youth Organisations		 256 227
Spend from direct donation to Hitchin Youth Trust 200 20
Sub-total 59,982 79,248
Spend on behalf of Hltchin Food Provision Team (COVID-19support) 8,500
Total 59,962 85,748

wh ich is made up of:
2021
Net expense (42,879)
Loss on exchange (2,593)
Realised
gain on Investments		 412,119
Unreallsed
gain on revaluation		 of investments 444,504
Total net Increase in funds 811,151
As at the 31 August 2021 the Trust had Unrestricted General Funds ofE5,818,220 This comprises:
2021
E
Fixed asset Investments 5,823,598
Current assets 43,747
Current
fiabifitles		 (49,125)
Total 5,818,220

2021 2021 2020
Unrestricted
Note funds
f		 Total funds
f		 Total funds
f
Income and endowments
Donations
and legades		 6 25,419 25,419 44,520
Investment
income		 6 76,104 76,104 131,846
Other Income 7 25,000
Total income 101,523 101,523 201,356
Expenditure
Expenditure
on raising funds:
Net investment management costs 8 17,350 17,350 5,700
Expenditure
on charitable		 activities 9,10 127,052 127,052 166,713
Other expenditure 11
Total expenditure 144,402 144,402 172,413
Net (expense)/income (42,879) (42,879) 28,953
Nst gains/(losses)
on Investments		 12 854,030 854,030 (81,970)
Net income and net movement In funds 811,151 811,151 (53,017)
Reconciliation
of funds
Total funds brought forward 5,130,006 5,130,006 5,183,023
Total funds carried forward 5,941,157 5,941,157 5,130,006

As restated
2021 2020
Note 6
Fixed assets
Tangible fixed assets 18 122,937 123,330
Investments 17 5,823,598 4,993,855
5,946,535 5,117,185
Current assets
Debtors 18 4,666 3,913
Cash at bank and in hand 39,081 52,746
43,737 56,658
Creditors: amounts falling due within one year 19 49,125 43,837
Net current assets (5,378) 12,821
Total assets less current liabilities 5,941,157 5,130,005
Net assets 5,941,157 5,130,006
Funds ofthe charity
Unrestricted
funds		 5941 157 6,130006
Total charity funds 21 6,941,157 5,130,006

Donations
and l		 egacies receivables
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
E
Donations
Donations 215 215 6,520 6,520
Other donations and legacies
Cost of providing facilities free of
charge to other youth organlsatlons 25,204 25,204 38,000 38,000
25,419 25,419 44,520 44,520

Investment
income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
E E
Income from listed Investments 76,104 76,104 131,445 131,445
Bank interest receivable 401 401
Fixed Interest Securities - Interest
76,104 76,104 131,846 131,846
7. Other Incom
Government		 e
Unrestricted Total Funda Unrestricted Total Funds
Funds 2021 Funds 2020
grants 25,000 25,000
8. Investment management costs
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
f E
Portfolio management 29,878 29,878 25,487 25,487
Commissions paid (12,528) (12,628) (19,787) (19,787)
17,350 17,350 5,700 5,700

9. Expenditure
on		 c harita ble activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
E E E
Grants, Awards, Bursarles and
Donations 79,580 79,580 105,718 105,718
In house Youth Groups 43,002 43,002 56,885 56,885
Support costs 4,470 4,470 4,110 4,110
127,052 127,052 166,713 166,713
10. Expenditure
on		 charitable activities by activity type
Activities Total Total
undertaken Support funds funds
directly Costs 2021 2020
E E. E E
Grants, Awards, Bursaries and
Donations 79,580 79,580 106,718
In house Youth Groups 43,002 43,002 56,885
Governance
costs		 4,470 4,470 4,110
122,582 4,470 127,052 166,713
11. Other expenditure
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
E E E
Loss on disposal oftangible fixed
assets held for charity's own use
12. Net gains/(losses) on Investments
Unrestdcted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
E E F E
(Losses)/gains
on		 exchange on cash
held for investment purposes (2,593) (2,593) (374) (374)
UBS Performance Compensation 70,217 70,217
Realised gains/(losses) on listed
Investments 412,119 412,119 (110,213) (110,213)
Unrealised
gains/(losses)		 on listed
investments 444,504 444,504 (41,600) (41,600)
Net gains/(losses) on investments 854,030 854,030 (81,970) (81,970)

Yea r ended 3 1 August 20 21
13. Net Income
Net income is stated after charging/(crediting):
2021 2020
E 6
Depreciation oftangible
fixed assets		 393 67
Loss on disposal oftangible fixed assets
Fees payable for the audit of the financial statements 1,470 1,470

Staff co sts
The total staff costs and employee benefits for the reporting period are analysed
as follows:
2021 2020
E E
Wages and salaries 14,399 14,372
Employer contributions to pension plans 245 245
14,644 14,617
The average
head		 count of employees during the year was 1 (2020: 1).The average number
of
full-time
equIvalent		 employees during the year Is analysed as follows:
2021 2020
No. No.
Number ofstaff 1 1

6.
Tangible fixed assets
Furniture,
Freehold Fixtures
Land and and
Building Equipment Total
E. E
Cost or valuation
At 1 September 2020 121,429 131,418
Additions
At 31August 2021 121,429 9,989 131,418
Depreciation
At 1 September 2020 8,088 8,088
Charge for the year 393
At 31August 2021 8,481 8,088
Carrying
amount
At 31August 2021 121,429 1,508 122,937
At 31August 2020 121,429 1,901 123,330




E117,929.
The total cost of land and buildings
7.
Investments		 is therefore E121,42
9.
Cash or
cash Listed
equivalents investments Total
E E E
Cost or valuation
At 1 September 2020 (as restated) 239,790 4,754,065 4,993,855
Additions 192,849 6,809,835 6,802,684
Disp os a la
Fair value movements		 (167,816) (6,249,629)
444,504		 (6,417,445)
444,504
At 31August 2021 264,823 5,558,775 5,727,056
Impairment
At 1 September 2020 and 31 August 2021
Carrying
amount
At 31August 2021 284,823 5,558,775 5,823,598
At 31August 2020 (as restated) 239,790 4,754,065 4,993,855

The listed investments
are		 split a s follows:
As
restated
2021 2020
6 6
Bond Investmsnts 1,061,670 740,043
Equity investments 4,497,105 3,285,563
Real Estate investments 243,334
Money Market Time 168,280
Alternative
investments		 485,125
Accounts and Investments on call 96,543 239,790
6,823,598 4,993,855
Historical cost at 31 August 5,379,110 4,550,731
18. Debtors
2021 2020
8
Prepayments
and accrued income		 4,628 3,875
Other debtors 38 38
4,666 3,913
19. Creditors: amounts falling due within one year
2021 2020
8 f
Grants approved
unpaid		 34,516 35,181
Trade creditors 446
Accruals and deferred income 13,363 7,616
Social security and other taxes
Other creditors 800 1,040
49,125 43,837

At Transfer At
I September Gains and between 31August
2020 Income Expenditure (losses) funds 2021
E E E E E
General funds 5 006676 101,523 (144,009) 854,030 5,818,220
Capital
expenditure fund 123,330 (393) 122,937
5,130,006 101,523 (144,402) 854,030 5,941,157
At Transfer At
I September Gains and between 31 August
2019 Income Expenditure (losses) funds 2020
E E
General funds 5 061 593 201,3B6 (172,346) (81,970) (1,967) 5,006,676
Capital
expenditure fund 121,430 (67) 1,967 123,330
5,183,023 201,368 (172,413) (81,970) 5,130,006
Analysis ofnet ass ets between funds
Unrestricted Total
Funds Funds
2021
E E
Tangible fixed assets 122,937 122,937
Investments 5,823,598 5,823,598
Current assets 43,747 43,747
Creditors less than 1 year (49,125) (49,125)
Net assets 5,941,157 5,941,157
As
restated
Unrestricted Total
Funds Funds
2020
E
Tangible fixed assets 123,330 123,330
Investments 4,993,855 4,993,855
Current assets 56,658 56,858
Creditors less than 1 year (43,837) (43,837)
Net assets 5,130,006 5,130,006