CHARrrY REGISTRATION NUMBÈR: 302398 Hitchln Youth Trust Company Limited by Guarantse Financial Statements 31 August 2024
Hltchln Youth Trust Company Lomlted by Guarants• Flnanclal Stat•ments Year ended 31 August 2024 Pag Trustees, annual report (Incorporating the Directors, report) Independent audiiorfs rewt to the n Statement of financial athilies (wKludiNJ inc¢Th aNI expenditure account) 12to15 16 Statement of financial posilijn 17 Notes to financial statem 18to27
Hitchln Youth Trust Company Llfflit by Guaranta• Tru8teM' Annual Roport (Incorpornong th• Dlr•ctorn' Roport) Y•ar ended 31 Augu•t 2024 financial statements of the chty for the yoar ended 31 AUgt 2024. RO1•rnn and admlnl•tTrUv• d•l•M• R•gl•t•r•d ¢h•thy na Hrtclwn Y¢xrth Tnt Charlty r•ql•tr4tlon nwnb•r W2398 Prfn¢lp•l ollk• and r•gl•t•rnd lambw H 111 I1Mlh Road HctMn Andy Julia David fkintosh rm Slartt Laura Evans Clare Skeels ShKley Brv•ffl Mandy Mills Gerdint Edwdrds TaShIna H(Nue Julie Donne Kirsten Sabm Sue Watkinson Gill cpent Fath Hojeer Appoint&J 2811 February 2024 Sarn Hank Apwinted 26th June 2024 Christian Ly-f0 Appointsd 31* Juty 2024 Jth Carn Appointed 2V Januwy 225 Lury Wakjer Appointed 26th March 2025 Resiwed 31•t Janw 2024 Company 8•¢r•lary Audltor First Flo 99 8er0ft Hitchin SGS INQ Bank•rn Bardays Bank &16 Hh Street Hrt¢hin SG5 18J
Hitchln Youth Trust Company Limlt•d ty Guarants• Trusteo•' Annual Rewt Ilncorpornllng the Dlrectorn. Report) Y•ar •nd•d 31 August 2024 1 London P London EC2Y SAU Chalf• rnport arevwy fornate to h•Ta str9 bcod of DiT&tornvrilh a¥ of skills requY•J to run the TrusL I would Ilke to tske trjis opporturmty to Ik 811 of the DIrS hard work durir& the yearwhich make6 It pIble for us to continue theqxk Ihat we do. Th& Trust obieclries are to: Furtheryouih activilies in Hilchin and Dthict (the forw Hitthin Urban Rurnl Distitt Councils), and to provtde arKI maiitain the faciliis made available ft)r youth Nganisations at 111 l•Valsworth Road, Hitchin, Hwtftxdthire, SG4 9SP Ertsure all ivitw are led wilhin an apprw legal. fmartial and admlnl8trative framvwork Ertsure Ihat resowces ofthe Trust we JKI wovVj to be abl8 to maintain the Trust indefrt&rf Thls Is achieved by utlllslro investnw r8kn lo gr¥ts to eligib ¢YlsatiOnS and
Hltchln Youth Trust coMnY LIMIt by Guarnnts• Tru8teo•' Annual R•port Ilncorpornllng tho Dlr•ctorn' Report) Year •nded 31 Augu•t 2024 Trust is a cunpany limited by I%pd on 29 October 1945 (Company Nmber. 00399872. Registered Offi. Lartwrr House. 111 Vbèlsworfh Road. Hitchin, Hertfordshke, SG4 9SP) and registered as a charity on 29 Jthy 1963 (Chwity wmber. W2398.14incpal Offvx.. Lanknume House, 111 VdaL8V•Drth Road. H(in. Hertkxthlmrn. SG4 9SP). Itis govend by Its moffrandum and Publ. Benefi The Dire¢torn have pgrd (Je regd to the ch CtyThrtt.$ Public 8enef Guidants al colIed with Section 17 of the Charilies Act 2011 kn exercisng their p(Mers and duties. The Direckn¥ have sought to demonstratè that tho TnAt continues to provmje identifiable beneffts to yo9 people in linè with its oty'actbves, either ()1 di• kn youry people uTrJer the 4e of 28 as individuaL8 OT as part of a gr¢Jup; or (li) by aSsi1rKJ adufts who trainiry lor worktng with youth groups. The ben e availablè io all who qu. Al app ore wbject to due WOLW3 and consideration wilhout LNas or dixriminath)n. The Trust has a IM>ard of Directors lthe Main CounciD has ¢(mIln its e$tab1hed practicti of r19 10 to 12 per anNm. The Diredors are rewi8ibkn ts ovors88ng tho activittes ot the Trust in ordw to enfjure Ihat the T1 meets Is Ot1. At date ofthis rewxt thern 19 Dith& overseelng and serylthg all comThMttees ensuring ihat the offices are administsred effKie ensurlng Ihat all appropnats pys we passed l) Ihe reffjrt chairym( the staiulory govwnarK of tr Twst Main Council cTrip)sed ol all Dlect& WKI It i& rerAxied to ty.. The HorK)rary Swetary The Main cjncil is responsi1 for. Re(*iving reports and recommendalion8 from al conrtteeS, the Honorary Secretary
Hltchln Youth Trust Compary Limltsd by Guarant•• Tru•tW8' Annual Report (Incorporatlng tho Dlroctorn, Report) (MnWn¥• Y•ar •nd•d 31 August 2024 Investry1 Committee To fomiulate and agree the iThvest to monilor k on oryoing ba818 To receNe. revi and c(¥nsidw th? in¥estrtwt porttolio managed by thè appointed Investhwit Managws. To reFQrt to the Cow¢il tn (xder Ihat they arn awarn of the inv0s1m strategies of Fabric Cornmittee To ensure wern1 frc#n tho Tnjst operas and provides f8Alities for youth groups. are OF mairtaned and wlth wopriate stattrtory rtyuireff4nts To rep)rt to the Maln CcAmca of ) bè WKlertkn ar#1 monitcf any To ensure thatthe nec8ssary sknlL8, kntredge arKI exPr arè Sustai in recruibng Dkeckns by ¢ing out regular Skims AlIts To recruit arKI knter¥w pote Dff&x5 With a to making recommeThlatiMs to the Man Councl Public Relations Committaa To raise weral ol th8 of the Tnt WKI ermxwrage •J)ropriats grrt applicaM)ns review schedule i8swJ to all TNstee& This nykes sure that all Tn are invotr1 in reviewing the p[cle$ and wocedwes to ensure they are up to date. rnaintavied and operating effectivety. Tris ensurB5 that the Trust is opv'r¥J as effr• as wible. The Main CourKil is suFwrt•J Treasww is reSPsIbl& for. Ensuring that the Main cn¢T1 is PThKknY ilh nmlhty dala Provvjing a Ink to the Trt bankers Ensuring that all Information is avail)le to the Tntsfs Mliio All prcfwd Dire¢lors erthartce the p)nwntited. body of Dir&or8 and we ablo to dwnonstrate the neceswy obligations l)9f IIng apWO aThJ elacbj requirements AII DKectors regulwty a sk to ere that an appolntsrnnts ffeet the Trusys requirmnts
Hltchln Youth Trust Company Limit•d by Gu•rant•• Trust•. Annual Roport Ilncorporallng th• DITt0. POrt> (t0 Yaar •nded 31 August 2024 ndT All Directors are familw the wryk IA the Tnl wd we to be Invow in th? activlti on a ragular basis. Any proposed new OirKN8 are inved to aliend CwKil me8tngs arKI be In1ved to famlliarlse themselveswith the Tru< the context li which it operates. trAir duties, commitnwt required, Iheir legal oblytion undw charity and lthv aTrJ lh8 Chwity Coffthwswn guidance publK benefi1 before b8ww appointed. Prowled Oireci¢rs rernive lYffflgs of the Tnmfs ils fvtw8 pkns thelr resFonsibilitie& All existing Directors woposed [e¢l(S are eypecd to kniliwise wlth Iha Charity Commlssion's Guidance CC3 Yhe Essethl Trusterf, com108 House ¢Jc£ument"Lrfa of a Conyny Part 1. Annual Requirements", the MenMyaTrYum and Artth OfAsSoI1 and are k8su•J with a copy of the last financial statements to ethance urKlerslandiTrJ of ther staiutory responslbilltles. Hitchin Youth Trust has fx)nllnd with Is Menknp of Norfh Herts tre for Voluntsry Service INHCVS} and attends regr meotngs of the North Y¢th Action Group which chaired by the Communty EThJ8gement Team at North Herts Dlstrict Cojncl. Mombership of NHCVS givu the Directors aLress to tralning and gOvernCe asSlae alongsKl8 other k¥cal Trusts and Charitie& Attendance at the meetings has provhjed a rtwoth to (xrt nm abtyjt other youlh organisatiorn In the area. Tris lir1¢ ha9¢Yd I18d ene$S ofthe Tntst in thèea fvrthw erquirw knul grant applicatbns. The Trust has a fompl ri8k nrnt pofy and regisler which contHiues to used by each mmittee to manage and hwJhlW nvfy idenbfi•J risks kn tho Main Council. Identified.
Hltchln Youth Trust Company Limltsd by Guarantse Tru8toM' Annual Report (Incorporating tho Dlrgctorn, Roport) Year 31 Augu•t 2024 Achl•v•m•nt• and Dudng tho year, the Trust has ajntinued s eslaili5hwJ prncte of pThrydiNJ financlal support frjr voluntary yc%rth organisaKJns and Hitctmn (the H6tchln Urban and Rwal District cnls). Grant AKI awwds approved durng the yew 2023 Orgarisational awards Personal grants School trip grants Bursary wards Try Ryan Hardship Fund 75,698 21,487 10,297 2.453 40.115 26,521 9.448 5,300 110 Total grant aid ardS 110,111 81.840 (9,588) 17.715) Organisanal award for ment Heth Rw>>vw redesignabd wi 115.197) Totsl wwards canm (9,5e8) 122.912) The Trusts aeconvnodation oft Ihe wound IlcKr of 111. Walswoth Road. Hitchin. Herkndshire. SG4 9SP is offered free of Ch to youth gw and OffJanisation8 in Ihe bxal area. The Trusts buikling con$Trsts ofyouth rooms and an office dtrnstaws and a rr8ting rocm and three offic8s upstsipJ. For the year endad 31 AjuSt 2024 the estiffdted value that the Trust has saved the users of the building is £52,17312023: £50.845). This indudes use of 3 Off in Iho tsJildKo 0MModatIng Hon Start. GrlL ELSA aThl Stand By Me. Vaiious organisalions the spxe cffi aTr •J hoc basls to see youTrJ people for mentoryw and ¢ounselling. have bulli up a rektw)nship ryth the Horts Spedalist Adolexent serrfice who are able to book oifte space x an htyJr at a tlm to see young peoF4e who they we workirwj with. and it gives thern a safe neutral space to m8et In order to be In a poth) to ad9 ts Tnmt ¢U8d trj with sJtory bodies. cthor edUcatical groups and ChaYrt and vol* ryganisatsons in aroA.
Hitchin Youth Trust Company Llnthd by Guarantr• Trust•O8' Annual Report Oncorporatlng th• Dlr•ctorn' Report) Yur wd•d 31 AUgt 2024 The Oirect(n Use a roling nmlntsn plan to Iwd9et for the maintenan¢ of the building ar#J ground$. This plan help5 them ftmximlse ts use ofth8 tL1rj forwhKth it is intendthl and to keep the building arKJ grounds in good, safe crfdw. It 0 all for repays tts bè earritid out rf necessary. The Directors apwovad awards dwirnj ts yw è) 18 (K915allons rewewkng (rnr 1.SQ) young people and 1[ indi¥Klual awards. as well as wovidig the use of Ihe sywnises to around 15 youth Awarding grants to individuats and ytyJth organtsath$ enables Yng peo in the area to take part ui a variety of acbvies and b8Mfft from help that Thy¥fyJ not Other be available to them. Individuals have raceived finKaal support fmrn Hilchin Yth TnMt to cover the cost of swrts activtbes and eXtracurr18r8(wI1les. Some ofthese indriidu have been training for80me time the famity have provlousty fvnded the activty themselves twt due to charyirKJ ciroJmstances they would need to Sorno eases, sh¥ an iredible anK)unt of talent and comitiL hardshlp. The bursarns are not intmded to Covei and %conNnDdthn expenses bul help to purchase equipmerrt tr Colege courses (Y &trilio5 whle at Univwslty, therefore enhancing studenfs eyperieKe. outings for families in ne&1 riThj Ihe hcqidays. This wovlded cNtdren wlth when they ur118 to go on a IIday. W. Th had excthlont feèdbxk from gratoffijl familie8. The Twst continues * financaaly supwt scfthl rnsidantial trlps )r those families vtho not afford to send their clldren. Trms gi¥8$ the thiklren the to exper• a trip away from t)cffle before they stsl at secondary school. Th59 was flrst offer•J afw tr Pandeffl and gr48s yourrfJ excellent tools to help with trir transwon to sxcmdary. trtn9 the ywwo were ablo to HL¥n8 Stat k) ctinUe tr) run their • fan support segsion at our premiso8. Thks provides he aKI to vthathflQ$ in tho wea inwhnt SQC4al Interacth)n for children. Hitchin Youlh Trt arè yd trj fernin IN(*d wblh the Hithin Food PThislon Tfft whlth hel families in our area who are strn9 to feed chldren aKI akn Fyovths Christrmas Hamper8 to families in need io wi them frjod * thistiyw trno. Help is wovided vla wofegslonal Repre8eTrtstives from the TN5t attend kthl net meellrys to proTh)to our work and make surn tho Trustee8 have understanding of aGti¥itses in Ihe area for yOg people.
Hltchin Youth Trust C¢)mpny Llmltad by Guarnnts• Trustees. Annual Report 11ncorpwng th• Dlrnctorn, Report) Year endod 31 August 2024 Flnanclal The financial rn8th8 for th8 yw on pw 16 17 rnllect O t(al net funds of £400,283 ith is made up ot. Net incom& Realised gain on InveslN 37,605 412 362,286 400,283 As at the 31 Awust 2024 Ihe Trust hal unrest1K Genernl Funds of £5.358.628. ¢omprises.' 2024 Total net Irmase h) funds Tangible fixed assets and Investsrwts Current assets Current tiatilities 5,352,870 65.640 (59,882) 5,358,628 Prfn¢lp•l •our¢M r••ow¢ Tota ineome forthe yoaf increas•J ty £152.878, frNn £113.421 to £286,299. The rrHin reasons forthe increase are as fokvws: Investment ine4Th has irthased by £150.183 from the prior year. Trt irwyease n income reftects tl chanp to Cazenove as investsrnt Mager from UBS in April 2023. The trust investrTWt policy ren$ unchanged as a total return [1. The Ca2en(y4e invesbTrnttsfgets a distribution of4%. Th9 lund distrbutbn Is in exce88 of the suslainable spendiry pc4icy of Ihe Twsys In¥eslrnènt Policy, and the excess dtstribuuon 16 relnvested tnto the investment fvnd by Cazen(we. A8 such lh8 Trust remains cornpliant w61h the Inves Polky. The cagh refrttiTha this are shown in nots 16. The valuo of the facllles prov free of chwge imxeased ty £1.328 to the iicreased uje and Prfnelwl Il•m• of •4J•ndMur• Tol81 expendibxe IrKreased by £38,948 frrffi £189.746 tr> £228.694. There was an Irease in Grants £28271 {34.5%}. The fees to Cazertt)ve Captsl inveslmerrt Thnage are ¢haryed at boil 0.12%- 0.20% ofth& average charywble ¥ae, ffticti is c¢xnparabty less thaTr UBS tharges. Each applcation for a grant is Considered indi¥iduaty and subpthd kn Ser1 based oft the needs ar#J situation of the apF4icant. Tr Directrs are awar• that demand coJld Incroase dramaticalty whlL put a on fvrKls. It there is a stnthrn in place to feviw polkies to make the necessary Changes to allow the Trust to <x)ntinue kn supFrfxt k1 youNJ people.
Hltchln Youth Trust Company Limltsd by GuaYant•o Tru8to88' Annual Rwort Oncorporating tho Dlr•ctorn' R•port) Year •nd•d 31 August 2024 To 5UPPQrt the lorKJ4emi obiectsves oftre TNSI the corywth has agreed a totsl return invosiment arKI prices index. The polty is rnvitrrtd periodrcally. rroTragws, thrne IINs a year. The Treasurer c4refvlty nK>nibYs cash Wdilable in th? current oUnt with Barcl8y& The airn to hdd 6 montts, forward expeNlibJr& The Trea8urnr Is ablg to rnquost fijrther fvnds directy fr(Mn our Investnt Marogers rf reqwal. Flx•d A•••t Inv••tm•nl• Note 16 8kthvs the split Of b8ten cash the movemts In the year. The relovant accounting trarntr for the Trust 15 knunling and Rev.g by Charitses.. Statent of Recommended l>racti(x apICable to charilies weparivYJ their ac1xnts in accordartt with the Flnancial Reporting Stsndard aPpIable Nl the UK aThJ Republic of Iland IFRS 102) (effective 1 January 2015) {Th• SORP,). In wilh the SORP, red a$5Ot nvestr)xnts are included In the ban sheet al mats Va at the year end and any unreald n$ losses are included in In8uranc• The Tnt maintaris nsurance in resofth6 rewthNJ iw on behalf ol the TrusL Pl•n• tor f1• p•rfod8 The fvnts Invest are ¢ man•J¢d wilh tr 01¥e of dgfvering a 5tainable lovel of totsl returns to the Twst.
Hitchin Youth Trust Company Umllod by Guarantse Trust••s' Annual R•port (Inc01pafjng tho Dlr•¢tor8' POrt) Yoar onded 31 August 2024 In order to mainlari ils oP4"ectNes. the firture p of Tn•tare to: to ensurn Ihe ¢Inity of Tntst and ils rtieckns To c•ntr'nue toth dosely wtlh its Inves Iiwiagersto ensure a pwtfolio is in pla(x to maintawi totsl retsmns in the lory te To ntinUe to bulks relationshps releVt kjcal Ory1$?1>ns arn1 indi¥thals to pycrfnoie the sepii¢es and faclti.eS av18b1e To 1XtinUe the rollng lIYe Ixw to onsure tsAfth8 are kept to the hyh88t usable sdardS The Tnth, who are a80 Directors for the puryx)ses of LX)rryany l, are responsib for preparirwJ the trustees, rwt and the financial sments in accordan(x with applb law and United Kingdom Aox)unling Stand¥th {Uiited Krydom Ger• AUntirj PrxiK8). true and fair vtew of the st of affairs of the charilabLe a)mpany and the Inc(m¥w resources and applicatK)n of re8ourLx. including the yKon arhd expendthn per4)d. In preparing these firwcial slatsffwts, TnL8es are requred to: prepare financial stnxnts ba815 un18s8 tt18 thaFrfxothts to presume that the ¢hanty will ccrfinue in busirws. The Trustees we responsible for keepi xa)unting records that are sulltlent to deffnStrate and explain Ihe charty's transxtions arKI di5¢ke ith reawiablo ac4)Jrxy at ary Ilme the finala1 powtsn ofthe chwty arKI able them to enswe that the financaal statem?nts comply wlth the C¢)mpanies Act21)06. we also wnsible forsafeguardiTrJ the assets ofthe chanty and hence for tsking rs(ablE steF6 for the preverikn and deteC1th of fraud and Oltrr KreguFariiw. The Dlrwthrs 11 the of gcxxl as sel t In the Charty GovernCe Code The Directors e te4Jonsible for ts m&thanc4 Writy ot the Included on tr compan$ website. The Annual Report is avalable rm ts b$it0 wll( Irdud8s financhl knfomHtlon atx)ut the Tfust and has been apwoved ty am Direc)rs at the knnual I11n9. Le9I81ation in Unilod Kwig(kni gobwnwwj the •KI diswTiton offinaTraI statements may differ from18gislalion in (therjuri5diciion&
Hltchin Youth Trust Company Llmltad by Guarnnkno Tru•taes' Annual Ryrt Ilncorpornllng th• DSrncknrn' Reportl (¢wrt Y•ar onded 31 Augu•t 2024 Audltor Eath of the pwwis WIK) r6 a Tru¥tse at th? d*e of apwovd ofthTS rewl c¢)nfimis thaL' so far as they are wwe, thore is no relvArt of whith the charws alItOr Is they have taken all steps that wght to have tkn as a Twslee to make themth wwafe of retevantaudit nfcmtion and loestablth thatthe 'saltrA is ware ofthat infr)rmation. grnall anIeS exeTh¥knw. The Trustees, annual rewl was apd 30 4Yll 2Q25 slw behlf of the Board of Trustees by: Peter Kelty Chair 11
Hitchln Youth Trust Company Limit•d by Guarantse Indendent Audllorf• R•port to tho Mwnbw8 of Hltchln Y¢xrth Trust Y•ar endod 31 August 2024 Oplnlon We have a1rted the ffftancial staterrnnts of Hrtdlin Ylxth Trust (the 'charity') for the year ended 31 August 2024 whKh the Strnent of FIrCIal ActNiltr88, Stalement of Financial Pwtion and notes to ffnarKW staiements, indudmg a sunmwy of si1rant xcounting polKies. The financial reporting frarnwork thal has tjeen appli8d in their preparntion is applr(able law arKI United In our opiThon the fin•Klal gtatwyents." gNe o true la vi8wofthe state ofthe tharty'saffws asat 31 August 2024 and of Its Incoming erKled", Pracllco: and 8a•ls for oWnl Ve conducled our audit in accordance wilh Internaional Standards on Audiling (UK) (ISAS {UK)) and applble law. Our r88pon8lbiles under Ihose standwds we further descfibed in the auditofs responsibilitses forthe audlt of the fmancial statements seLtion ofour rep(xt. are In[ident of the charity in accordance wlh the ethhxl requirements that aTe relant to ow audtt of the financk Statements In the UK IndudlrtrJ FRC'S Eth1 Standard, and he fulfilled ow other ethiLI responsibilities in aCCordae with th88e rewirerrthts. beli that the audit evlden(x we have obtained is sufflcnt and appropriate to a basis for our opinM)n. In audrting the finanoal statements, we have cmc1 thatts Irustees. ofbkn wir#J Lncérn bas18 ofattounw in the prnparation of the finanual statements is apwowat•. Based on the work we have [rfnd. we ha¥e rKrt identified ary nrHI uncerlainties relating to events or conditions tha( widiwdually cdlecti¥ety. May cast 6ignthwt doubt on the charitys abilty to ntinue as a going tsJnc•m for a of al Iwt from when the an(al statèments are authprised for iswe. Our responsibilities and the resporlbMlbes clthe trteaS With res1 to gorJ (Cern are described in the relevant sactions cNlthis re[ 12
Hitchln Youth Tnmt Compny LIMIt ty Guarants• Indownt Audltorfs Report to tho IAwnb•rn of Hitshln Youth Tnt(wth Year onded 31 AUgt 2024 included In the Annual ReFMrt ottw I1 th• fmaNJal slatwts and (wr Rewt of tho IndeForthnt Auditorn thweon. Our oplnlc#) on the Ilnancial ststeftw (kn5 lIthe olhwiif(Thbthon and we do not express any fomi of assurnnce condusion thereon. In cOnneCn with our audit ofts frfwwi41 slenwts, ujr resp$ isto thè other Inforrr and. in dolng so, ider the other Inform ts nrialy Inc4xsistent with the financial statements or our knvwledge obtsed n the audii ¢x 0th8f4¥ise aPPS to be matarialty misst. If, based on the have pwfwThd. conthde that thore is a matla1 mmtatement of this other infommtton. tAt are required to reFrfXt thattsx noth tr• report in thib regard. In our opkn1. based on the WKlertkn in the ¢LKwse rf the a#lt th8 infomth gNen In tho Tntstses. AnThwl Rewt for tho firwKkl yw for which tr financb statem8nts e preped is corraistent wilh Ihe finala1 siatements,. and the Trustse Annual Rewt has boen wepwed in •x(xdwKX wilh appli(¥bl8 rewlrement& In tho light ofthe kncywledge under51anthg cf the Charity arKI envlronrrent obtain1 in the c¥)urse of the audtt, we have not Klenlified materia n15sta in the Trustees. knual RryorL We have nothirvJ to reF#Yt n rewJe( of the in retatKJn kn which tho Companies Act 2006 requKes us to report to you rf, n our opinron: adewate a¢cLntIl9 records ha¥ not been kert arr8m$ lequate fry our audit have not been cl¥ed from branthes not visitéd ty us: or the trustees were not entitled to take advantage of the sm?1 ccffnpanies exemplion from the rnquyermnt to prepare a Strakn3 Reportor in wyir¥J the Trustees, Annu Rep)rt. As explalned mrTr fulty in Ihe trustees, TpOnSlIe$ statem, the trustoes (who are also the directorsforthe purFxJses ofCompry Iww) re¥onsibfetrthe weparaknn ofthefinancial Staternts and for beng satisfd that they sive a true and fw ¥1. for suth niemal control as the trustees deterniine is necessary to enable the Fxepnkn of fm8111 that arn freo from material misststemenl wheth¥ due to fraud or error. 13
Hltchln Youth Trust Company Umlt•d by Guarant•• Ind•p6nd•nt Auditorf• R•port to 1ho IAomlw8 of Hltchln Youth Trust1¢10J Y•ar ond•d 31 Augwt 2024 Ro•pon8lblllil•8 of tru•t••• ¢oniknu•d In prgpamg the financial stst, trteeS are reSwnS> as$8sslrrfJ the chanty's ability to continue as a golng nCarn. diKloslrwJ, as Wkablè. matters related to going nrn and using the going C4)nc4m basis of accwnllng unless Ihe trustees eilher intend to ll4uve the chty or to cease Our M•POMlbllltl•• lor th• audlt dth• •tal•m are freè from material mi55taternnt, T•hether due to fraud or error. and to issue a Rowt of tho IndeperKlent AudÉtors that inchJdes our opinTon. Reasonable assuran¢e ts a high lovel of assuranco. but is nota guarantee that an authIcondxed in 8¢tordan¢e wilh ISAS (UKI will aws detect a materlal misslatent when it exwts. M155tatthnts arr8e from fraud or 8)r are cty$Klergd Iyotedal If. indbvidually or in the aggregate. Ihey could rnabfy be expecw to nfiuénL tho èconomic decisions of users tsken on the basis of these finartial statennts. lThegulwitn4 indudng frwd. we of ith l•ws and regulations. Wo design prdureS in line with our responsiblilies, (xAIHxd above, to detec ffoterlal 1$$teInts in rèsréct of irregularibes, indn9 fraud. The extent k• w0C•Ju we ¢apabl8 of dètecting regulan'lies. including fraud is dtitslod beltyA7.' Based on our wderntwding ofthe tity aml 8e(or In IoFws, we idenl1rd the prncipal risks of non<Own with kws and wuklions 1rj to tharltable companigs and the Ap40n of charitable fvnds We aljo ¢on$idered those las and regulalions that have a direct impxt on th preparation of the finan1 Stemen comnwntcad entified laws and reguLqtions throughout misststew Iru1n9 obtsiniry undetdIng of hcm fraud ocw, ty moking enqueS ofthe trustees and managernent as to ¥there cc)slered there vras susceptbillty to fraud and Cdering the intemd in pkn to nibgats frnud rtsks rKTrcorylance Im and Tegulations. In tesp)rffje tr) the risk offra1 thr t4as tho rfsk of ofcontrds) the risk of iThegularbtres non-e<rykn a)d regulallom, d88igned ProCedw which cluded. It not Iwnited to: forniwig anatytical procedwes to Klenty unusual OT unex¢thd tran&Klions and balances a8s85sing whetherjudgeffmts a)d assumptsMs In deterThllnry OUnting lMats$ were dwxtrie of Wenlial bias checklw grant exdIture •2ainst twstees, winrA rrwlvy sample testing of expense invoix for approwwteness •KJ aMLUtM)n theckirwj cakulations prepared by the conyry test checking the approF¥iateness of iounwl entiies agreeing finanoal staternt disdosures to the undwtyiThJ NMtiOn checkirwj for COffewndenc4 wilh tr Char1 ComwAswn reading the minutes of trustées. c¢¥J1 n 14
Hitchln Youth Trust Company Limit•d by Guarantso Ind•p•nd•nl Audftorf• R•port to th• IA•mbor• of Hitchln Youth Tru81 (conUNwoJ Year ended 31 August 2024 There are inherent lynilatrons in our audit ouyned above. The rrm rerrth)ved that I¥S and regLAations we from financaal transactvTh, the IKWY it is that Uh be¢oThp aware of non- compliance. staThlards also Iwnrt the 01t w0C&re9 ts Klentify rKYKrmplian¢e with laws and regulations to ewuiry of the trustee5 and other nwagemwt and the inspoction of regulatory and legal SFX)ndence. rf ary. Material rrmSstatents that arise lo fraud be harder to dètect than those that wise from en?r &s may liv0 delberale nlrr0nt or collusion. are not laws and regulations. Financial Reporting Cwn¢ifs website at ww.frc.¢xg.uklauditmSpDnsibdil. Thls description fomis part of +Jur Repryt of the Indepdent 1X5. U8• of our r•port Th1$ report sdety to mankn. as a bth. li Cordaa with Chapr 3 of Part 16 ofthe Companles Act 201A. r auditwork has beén undartaken thatwe mbJht st to the cliarivs members rnatters we are reqUr to stats to them In an dItorS reF#xI and for no other purpose. To the fullest exnt pernmtted by I, not &c8pt or assurn responsibdity to anyone other than the charlty arKI caritys rreft)ws as a tAty. for for tIMs report, Qr for the opinions we have fo Phillp CA (Senior Stahkny Awlrtor) For and on behall of Hicks aTrJ CThnpany Chartered fv£courtants and Statutory A111(8 First Fk#)r 99 Bancroft Hrtthin SG5 1NQ 30 Aprfl 2025
Hltchln Youth Trust comnY Umlt•d by Guarant•• stat•m•nt of Flnandal Acllvlti08 (5ncludlng Income and expondlthr• Cunt) Year ended 31 August 2024 Thjs Tot•1 fund• Total funds Donatkins and legacies Investrnent income 212,759 212,759 266,299 266,299 62.576 113.421 Totsl In¢¢)m• Expondltur• Expendiiure on raisiry funds.. Net invesbnent managemènt costs ExperKliture on charitable aclr¥ities Other expenditure Totsl •xndItUrn 12,021 216,673 12.021 216,673 20.228 169,518 10 228.694 228,694 189.746 Nèt Income1(exSe> N8t gain8 on ¥westi 37.605 362.678 37.605 362,678 {76.325) 1[,500 11 400.283 400,283 30.175 R•¢on¢lll•tlon of fvnd• Total fvnds bt(wght fmTd Total fund• rrf•d fomrd 4.958,345 4,958.345 5.358.628 5,358,628 4,928,170 4.958,345 The slaiemert of financial acts¥itw imIeS al gairo JKI k)58es fery)gnwed in the ye¥. All income and expeTrJiture derNe frcm ¢onliwir¥J acts¥11. Th• nokn on p•g•• 18tr1 27f¢)rni p•rt allh fln•nd•l •14tw*. 16
Hitchln Youth Trust Company Llmtt•d by Guarants• Statsm•nt ot Flnanclal Poslllon 31 August 2024 2023 Tangible fixed as•ets Inveslments 15 16 122.725 5.230,145 5.352.870 123.505 4,824.119 4,947.624 Curr•nt •s86ts Debto Cash at b8nk aThl in haTrJ 17 4.875 60.765 4.579 50.801 Crndltorn: amoun1• fallhw du• ¥Alhln om y Il•t currnnt a••ots (59.8V2) (40,080) 5,758 10.721 5.358.628 4,958,345 5,358.628 4,958,345 Total a•8•ts l•u currnnt Fund8 of th• ¢h•rlty Unroslricted funds 5.358,628 5,358,628 4.958.345 4,958,345 Total ¢h•rlty ftAM These financFal statements vme apwo¥ed by the bwd fAtruses ar#J aUlhOr forlgsue on 30 April 2025. and a . ned on b8haWof tho bod ty: Peter Kety Chair 17
Hitchln Youth Trust Company LIMIt by Gu•rnnts• Nots8 10 the Financial Slatsm•nts Year Ond 31 August 2024 Gon•ral Infr>rn The char¥ is a public benefft entty arKI a pnvate cayrywry limi by guarantee. regthred in England and Wales and a registered (arity in Enrf1 arKI wal The addreJ8 of the regthred ofte ig Laml)oume House. 111 Wabworth Road. Hff¢hn. SG4 9SP. Slat•m•nt of vJmpW•nc• These Ilnancial siatenwnts have been wepar•Y ith FRS 102. The Financial ReFQrtlng Standard applicable #i the UK and Ropubk of Ir8land. the Siatem?nt of Recommended PfactKe applicabte lo Ch8$ prywvJ ther •xounts in acwdance wlth the Financlal Reportlng Standard applicable in the UK and Rewblic of Ireland (FRS 102) {Charitses SORP (FRS 102)) and the Coan18$ Act 2CTh. Aeeauntlng polkl•• 8••15 af pr•pArn Tho financia statemonts have bean prepared on th? histOTK21 e4st ba%s. as modffied by the revaluation of rtain finan¢l assets liabililies aThl Invests Fyoperlies npasured at fair value thrtyJ incomè or eXFr Tha finCla 8tments e wepared wi sknliNJ. wlith ts the fvnctr>nal CeY ofthè entity. Golng conc•rn The entity satisfies the criteria of being a quahfying entity as defined in FRS 102. As such, advantage has been tkn of the following disclosure exerryt available under paraoraph 1.12 of FRS 1(r2'. {a) No ca8h 8tstwnert haj be we81 for Ihe wrpwry.
Hltchin Youth Trust Company Llmltsd by Guarnntso Notsa to tho Flnanclal Statsm•nts Yoar arKI 31 August 2024 The weparatwm of the financial stffnts reqwes managent lo mako judgements, estimats8 aThJ assunwtions allt anUnts rewted. These estivrotes and ludgements a (tinU revivwed are based on exwIen and other fadorn, incbJduvJ exrctsts of Fund ae¢ounil UnrestrKtsd funds are 4aable fr)r use at ts dl1cfetK of tho trustees to any of the Desynated fd$ are umeslrithd •¥ned by ts trus far particular futur8 project or mmitrmnt R8strictwJ funds are subJ&tsd to restrKtions on theirexpendibjre deckred ty the dOnorth[wh the ter of an apped and Wl into suklasses: rostrided furrfls or endowment Inomlw rn•ourn• ¢harlty, it is probable that the lnofits associth with Ihe transaLion will ftow lo the iity and the can be relthty rn0ad. The bknving spwafic poIleS e applied to path%lar categoiies of inco. gi receipt is probable arnl its air(Junt can be nwagrnl relH. SeNios and faclilies pr(Ntded ty the Tntstto 0therYjth txganisatlon5 at rvJ charge are inckndod in the $iITnt of finartial activils ai an ests) of the value ol the donation to the othw charitabk organisatroro. VaK cl Ihe donation is cakulatad on the number of h[3 the facilitss are used by yth organisatilS at an hourty r clwggd by similar premises wi the local The value of laalkns by ts Trl in the year ended 31 AwJust 2024 was £52.173 {2023: £50.845). 19
Hltchln Youth Trust Company LIMIt by Guarnntso Not&N to th• Flnancial Statem•nts Yoar end•d 31 August 2024 expenditure on charilable activilEs a¥ o)sts incuThed by a in undertakKig acalw1 that fvther its charitsble aims fwtre benefft of ts benefriaiigs. including IIK)se support costs cJ)sts relating totr govemmofthe chwty apwboned to ¢haritable Grwrts ptyalAe are rocogniged a legal w cyeralionally brding crJm5tment has ¢)Itr expendlJJre Indudes all eypenthture that is neither related to r8ly.ng ndS for the Expendfture Indudes any VAT whtch cnOt be rKaverg1 is das6iffted under headlngs ofthe statemrt of fin91 actrrfiiw to vthlch it relatss.. All costs are allocatsd to exponthre (ategorbs relclkng use of the resource. Direct costs athbutable to a skngle acirilty are albcaied dlredty to that acyvty. Shwed Ots are appcthned Tanglblo •••0ts Tangibleassetsare lIalty rnc¢xded atrt and Subseq stated c¥Jst18ss a)y accumulated depreoatron &)d Iallt k>s5es. kny tang assets carried at revalued 8rrKJunts are recorded at the far vakn at the d of revaluat#)n less any subSwt xcunwlated deplatIOn and An IrKrease In tho of as88t as a of a 1J), is nISed In other recognlsed gains and losses, urd8ss It rnverses a charge fw IMpnnt that has pray)uS1y be rwnlsed as eyndliwe wiihin ts statemt of financlal xvrti8s. A dacreaso in the wrylng amount of an asset as a result ol rnvaluatkn, Is recognised in other rocognised gains and losses. excw to whth it offsets any prevlous mauation gairy in whkh case the loss is shown withln Depreciatwjn knated so as to write off the ¢osl of an asirt18SS its residual value, over the useful econoffthc life ofthat asset as follcM8: Fixtures and fittiThJs str4ht li Unlisted aquty 1nVthts we initHHy recuded at cos(8nd subsequenty ffasur8d at falrvalue. inc(Mr* or expenditrjre.
Hitshln Youth Trust Company Llmltsd by GuarnntO• Nots8 to th• Financlal Stat•m•nts (¢ty Y•ar ended 31 August 2024 A¢¢ounUng pdklol A review for in(kators of iffyimxnt is out at exh rew1ing date. with the recoverable amount being estirnated 7•thern SLK indicA)rs exist kn the carrying value exceeds tho r¢eratIo amoun( the asset is h'[ed Prior irnpaimwnts are also reviowed for FIn¢111 In•trum•nt• A financial asset or a finwthl ts1Y Is re(¥)15ed ¢xty thg W becomes a p¥ty to the 8asic financlal Instrumwts we Initity relxgnised at the arrwrt rerA1V or payable induding any red traractIon CAts, unless the affet consliiutes a financing transacbon. where it is recognisad at the present ¥ae ol tho fure payrnnts discounted * a matht rnte of interest for a 8SmlFw debt instrumenL Current assels and rrent liillies ¥a b$eqty wwsuredat the cash or otherc¥Jnsideration expected lo be pavj or re¢epMI aThl dI1nl. Vdhero Investr)wnts in shares or shares we pulJi tradad thfrw fak value c otherwi80 be 0Sred reliabty. the invesfftnt is s>$equenty rn8asured at frdlr value with changes In lalr vthe rwnised and evllUre. All other such investnnts are ith th8 rnlated seNice is pro¥Kled. Prepad contribulk5 are recogimsed as an asset to tr Llmlt•d by gu•rant•• The ffmpany is a Company Iwniied by arKI not a Sh¥e Caixtal. Tho Ilat411ty of
Hitchin Youth Trust Company Llmltsd by Guarantee Notss to th• Flnanclal Stat•monts Year end 31 Augu8t 2024 UnrostrKted Totsl Fund• UrneStr Total Funds 2024 Funds 2023 Donatlon• Donaknons 1.7 Oth•r donatlon• and 10g•cI•• Cost of providing trdalllles free of charge to othw y(yJth organisatior 52,173 52.173 50,845 50,845 50,845 UnreslrIc Fund• Umestrthd Total Funds Funds Funds 2023 212.488 271 212,488 271 57209 5,367 62,576 57.209 5.367 ff2.576 Bank ini8rest receivable 212,759 212.759 unrestri Funth Unrestricted Total Funds 2024 Fund5 2023 Porlfolio maMgthM)t 12,021 12,021 12.021 20.228 20.228 20,228 20,228 12.021
Hltchln Youth Trust Company Llmltad by Gvarantoo Notss to the Flnanclal Slatomonts (eMtht•¢ Y•ar ended 31 August 2024 Unrestrthl Tqthl Fund• unrestric Tthl Funds Funds 2023 Grants. Award8. Burwies •KI 132,765 79,271 4.637 1V2,785 79,271 4.637 216,673 85.385 79.123 5.010 169.518 85,385 79,123 5,010 169,518 In house Youth Grou Supwrt costs 216.6n Totsl ndA Total nds 2023 GMts, Awanls, Bursath Donations In house Youlh Groups Govemance costs 132.765 79.271 132.765 79.271 4.637 216,673 85,385 79.123 5.010 169,518 4.637 4.637 212.036 10. Oth•r •4nd1 Unrestithd Tatsl Funth Urrestrthd Totsl Funds FurMIs Funds 2023 Loss on disposal of tangljle fixed assets for charitys use 11. N•t ylrflov••l on InvB•lmw Unrnstiw*d T(4al Fund8 Unrestrthd T¢)tal Funds 2024 FuNI$ 2023 Realised ga#)81(losse8) ¢)n118ted Investrnents Unreallsed (b88es) on Istad invesknents 412 412 151887 152,887 (48,387) (46,387) Nel gains1()58e$) on 362.678 362.678 106,5 106,500
Hitchln Youth Trust Company Llmlted by Guarant Nots8 to tho Flnanclal Statwnonts (¢• Year ond•d 31 August 2024 12. 14•1 Incom• 2023 Dewecialion of taThJible ed assets Fees payable tho alIt d the sme 13. 81aff ¢o•ts 2023 Wag85 sala1es Errpbyor C(tributi¢m$ to ponSK pkns 16265 311 16.099 16,576 16.395 The average heal of Woyws the yw TKas 1 (2023: 1}. The averag8 number of fulktln* equivalent èmpbyees duriThJ ts year is alYS•1 as fi)Iws: 2023 Nnber01 skff No TeceNed errpbrn offft)re £60.(x)O TIng the yoar {2023'. NII). The Trustees of the tharty provide their see5 voluntwity ar•J have rec8bv&J no remuneration or other tjenefits from the ch¥ty and we not incld in the staff costs arAtysi
Hltchin Youth Trust Company Limitod by Guarnnts• Not•8 to th• Flnan¢ial Statsm•nt• Year ended 31 August 2024 FUnre, Fixtijyes FreePdd BU1 EqulThnt Co•t or valu•llon At 1 SeFknmber 2023 Additi'ons Disposals 121.429 8.782 130,211 At 31 Augu•t 2024 Doprnel•tlon At 1 September 2023 Charge the year Dispw 121.429 8,782 130.211 6.7( At 31 Auyt 2024 7,487 7,487 Carrylno amount At 31 August 2024 At 31 August 2023 121.429 122,725 121.429 2.076 123.505 The value of the orvJnal giftofthe ln 1945 was £3.$00 and the cost of inyryrfwnents was £117.929. The tthl cost of ld txrrikliry is £121.429. 1& Inv•Blrn0nts Co•t or vakmllon At 1 September 2023 387,584 (51.585) {101,245) 11,936 212,759 (11.780) (157.631) 4.436,535 4,824,119 51,565 101.245 (11.9381 Movement of cash hetd in manapj lunds Ols[1 of InvestnMts 212,759 (11,780) {157,631) 2.678 362,678 4.940,087 5,230,145 Portfolio managerrvant fees paKI in I y Fa value movements At 31 AuyMI 2024 Cwrylng amourt At 31 Auy•l 2024 At 31 AUgt 2023 2,058 290.058 387.584 4.940.087 4,438.535 5,230,145 4,824.119 28
Hltchin Youth Trust Company Llmllad by Guarantso Notes to the Flnanclal Statomentsi¢•rf Yr ended 31 Augu8t 2024 The marketvalualionswere suppli8d by CmMy4eC•kland •COnsK to the rtsdily a¥allable market wices at tr yw end. 2024 2023 Bond inveslffents Equlty inVeSthnts 595.561 3.683.877 660,649 124,207 165,851 5.230.145 543,570 3.110,807 782,158 225,453 162,131 4,824,119 Cash hold within multi-as* fiTh1 Accounts and Irbvestrents on cal Hlstortcal cost at 31 Auwst 4,914,288 4,870,507 17. D•btorn 2023 4.858 17 4,541 36 other debknrs 4.875 4,579 2023 i>ants aptrd unpald Accruals and deferred incon 51,203 8,059 620 31.283 8.027 770 59.882 40,080 The amunt recognlsed in inc1)Th or expeThlitw• as exponse in rdatwjn to deflned ntrIbUti plans was £311 (2023: £296).
Hitchln Youth Trust Company Lknltsd by Guarant•0 Not08 to th• Flnancial Stat•monts (ew Yoar •nd•d 31 August 2024 20. Analykn rf ¢lwl•bl• ldI Transfer At 1 Septewlxr Gal bet%n 31 August 2(r23 Irorne EXpeThre {kJsses) fvnds GeneRi fund8 4.834.840 286.299 (227.914) 362.878 5,235,903 eynditixe fund 123.505 4,958.345 (780) 286299 (228.694) 362.678 122,725 5.358.628 Transfvr At 1 September Garts and between 31 Auuu•t 2022 EXpdIn (losses) 2023 General fvnds Capilal exdlure 4.801885 113,421 (188,ge6) 1C6.500 4,834,840 124.285 (780) (189.746) 123,505 4,958,345 4.Y28.170 113.421 1(,500 Totsl Fund• 2024 Funds Tangible fixed assets Investrnents Current assets Credith kns 1 ye¥ 122.725 122,725 5,230.145 5,230,145 65.640 65,640 (59,882) (59.8821 5,358,628 5,358,628 Total Funds 2023 Funds TaThJible fixed 88sets InveslThnts Current assets Credi10•8 than 1 year 123.505 123,505 4,V24.119 4,824,119 50.801 50,801 (40.080} {40,080) 4.958,345 4.958,345