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|||||||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|
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|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|||||
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|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|
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|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|
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||||||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|
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||||||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|
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|Donations
and l|egacies receivables|||||
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|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||Funds|2021|Funds|2020|
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|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|
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|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||||||
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|||||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|
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|9.|Expenditure
on|c|harita|ble|activities|by fund type||||
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|||||||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)|
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|Yea|r ended 3|1|August 20|21|||
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|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|
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|Staff co|sts||||||||||
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|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|
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|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|
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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|
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|The|listed investments
are|split a|s follows:|||
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||||||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|
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|||||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|