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 AUg￿t 2024. RO1•rnn￿ and admlnl•tTrUv• d•l•M• R•gl•t•r•d ¢h•thy na Hrtclwn Y¢xrth Tn*t Charlty r•ql•tr4tlon nwnb•r W2398 Prfn¢lp•l ollk• and r•gl•t•rnd lambw￿* H 111 I￿1￿M￿lh Road H*ctMn Andy Julia David fkintosh rm Sl*artt Laura Evans Clare Skeels ShKley Brv•ffl Mandy Mills Gerdint Edwdrds TaSh￿Ina H(Nue Julie Donne Kirsten Sabm Sue Watkinson Gill c￿pent Fath Hojeer Appoint&J 2811 February 2024 Sarn Hank Apwinted 26th June 2024 Christian L￿y￿-￿f0￿ Appointsd 31* Juty 2024 Jth Carn Appointed 2V Januwy 2￿25 Lury Wakjer Appointed 26th March 2025 Resiwed 31•t Janw 2024 Company 8•¢r•lary Audltor First Flo 99 8￿er0ft Hitchin SGS INQ Bank•rn Bardays Bank &16 H￿h 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 for￿nate to h•Ta str￿9 bcod of DiT&tornvrilh a¥￿ of skills requY•J to run the TrusL I would Ilke to tske trjis opporturmty to I￿k 811 of the DIr￿￿￿S hard work durir& the yearwhich make6 It p￿Ible for us to continue the*qxk 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 facilii*s 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￿ ¢Y￿lsatiOnS and Hltchln Youth Trust coM￿nY 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￿%￿p￿*d on 29 October 1945 (Company Nmber. 00399872. Registered Offi￿. Lart*wrr* 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 goven*d by Its moff￿randum and Publ. Benefi The Dire¢torn have pgrd (*Je reg*d to the ch￿ CtyThrtt￿.$ Public 8enef* Guidants al￿ co￿lIed 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 yo￿9 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 aSsi￿1rKJ 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$tab1￿hed practicti of r￿￿1￿9 10 to 12 per anNm. The Diredors are rewi8ibkn ts ovors88ng tho activittes ot the Trust in ordw to enfjure Ihat the T￿￿1 meets Is Ot1￿￿. At date ofthis rewxt thern 19 Dith& overseelng and serylthg all comThMttees ensuring ihat the offices are administsred effKie ensurlng Ihat all appropnats pys we passed l) Ihe re*ffjrt chairym( the staiulory govwnarK* of tr* Twst Main Council cTrip)sed ol all Dlect￿& WKI It i& rerAxied to ty.. The HorK)rary Swetary The Main c￿jncil is responsi1* for. Re(*iving reports and recommendalion8 from al con￿rtteeS, the Honorary Secretary Hltchln Youth Trust Compary Limltsd by Guarant•• Tru•tW8' Annual Report (Incorporatlng tho Dlroctorn, Report) (MnWn¥• Y•ar •nd•d 31 August 2024 Investry￿1 Committee To fomiulate and agree the iThvest￿ to monilor k on ￿ oryoing ba818 To receNe. revi￿ and c(¥nsidw th? in¥estrtwt porttolio managed by thè appointed Investhwit Managws. To reFQrt to the Cow¢il tn (xder Ihat they arn awarn of the inv0s1m￿ strategies of Fabric Cornmittee To ensure wern1￿ frc#n tho Tnjst opera*s and provides f8Alities for youth groups. are ￿OF￿ mairtaned and wlth wopriate stattrtory rtyuireff*4nts To rep)rt to the Maln CcAmca of *) bè WKlertkn ar#1 monitcf any To ensure thatthe nec8ssary sknlL8, kntr￿edge arKI exP￿￿r￿* arè Sustai￿ in recruibng Dkeckns by ¢￿ing out regular Skims A￿lIts To recruit arKI knter¥w pote￿￿ Dff&*x5 With a to making recommeThlatiMs to the Man Councl Public Relations Committaa To raise weral ol th8 of the Tn*t WKI ermxwrage •J)ropriats gr*rt applicaM)ns review schedule i8swJ to all TNstee& This nykes sure that all Tn* are invotr￿1 in reviewing the p￿[cle$ 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 reSP￿sIbl& for. Ensuring that the Main c￿n¢T1 is PThKknY *ilh nmlhty dala Provvjing a Ink to the Tr￿t 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￿ I￿Ing apWO￿ aThJ elacbj requirements AII DKectors regulwty a sk* to er￿￿e that an appolntsrnnts ffeet the Trusys requirmnts Hltchln Youth Trust Company Limit•d by Gu•rant•• Trust•￿. Annual Roport Ilncorporallng th• DIT￿t0￿. ￿POrt> (t￿￿￿0 Yaar •nded 31 August 2024 ndT All Directors are familw the wryk IA the Tn*l wd we to be Invow in th? activlti on a ragular basis. Any proposed new OirK*N8 are inv*ed to aliend CwKil me8tngs arKI be In￿1ved 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 lY*ffflgs of the Tnmfs ils fvtw8 pkns thelr resFonsibilitie& All existing Directors woposed [￿e¢l(￿S are eypec*d to kniliwise wlth Iha Charity Commlssion's Guidance CC3 Yhe Essethl Trusterf, com￿108 House ¢Jc£ument"Lrfa of a Conyny Part 1. Annual Requirements", the MenMyaTrYum and Artth OfAsS￿oI1￿ and are k8su•J with a copy of the last financial statements to ethance urKlerslandiTrJ of ther staiutory responslbilltles. Hitchin Youth Trust has fx)nlln￿d with Is Menkn￿p of Norfh Herts ￿tre for Voluntsry Service INHCVS} and attends reg￿r 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 gOvern￿Ce asS*la￿e alongsKl8 other k¥cal Trusts and Charitie& Attendance at the meetings has provhjed a r*twoth to (xrt nm abtyjt other youlh organisatiorn In the area. Tris lir1¢ ha9¢Y￿*d I￿1￿8d ￿￿ene$S ofthe Tntst in thè*ea fvrthw erquirw knul grant applicatbns. The Trust has a fompl ri8k nr￿nt pofy and regisler which contHiues to ￿ used by each mmittee to manage and hwJhlW nv*fy idenbfi•J risks kn tho Main Council. Identified. Hltchln Youth Trust Company Limltsd by Guarantse Tru8toM' Annual Report (Incorporating tho Dlrgctorn, Roport) Year 31 Augu•t 2024 Achl•v•m•nt• and Dudng tho year, the Trust has ajntinued *s eslaili5hwJ prnct￿e of pThrydiNJ financlal support frjr voluntary yc%rth organisaKJns and Hitctmn (the H6tchln Urban and Rwal District c￿n￿ls). Grant AKI awwds approved durng the yew 2023 Orgarisational awards Personal grants School trip grants Bursary wards Try Ryan Hardship Fund 75,698 21,487 10,297 2.453 40.115 26,521 9.448 5,300 110 Total grant aid ￿ardS 110,111 81.840 (9,588) 17.715) Organisa￿nal award for ment￿ Heth Rw>>vw redesignabd wi 115.197) Totsl wwards canm (9,5e8) 122.912) The Trusts aeconvnodation oft Ihe wound IlcKr of 111. Walswoth Road. Hitchin. Herkndshire. SG4 9SP is offered free of Ch￿ to youth gw and OffJanisation8 in Ihe bxal area. The Trusts buikling con$Trsts ofyouth rooms and an office dtr*nstaws and a rr*8ting rocm and three offic8s upstsipJ. For the year endad 31 A￿juSt 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 a￿d9 ts Tnmt ¢￿￿U8d trj with s*Jtory bodies. cthor edUcatic￿al 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 AUg￿t 2024 The Oirect(n Use a roling nmlntsn￿ plan to Iwd9et for the maintenan¢* of the building ar#J ground$. This plan help5 them ftmximlse ts use ofth8 t￿L￿1r￿j forwhKth it is intendthl and to keep the building arKJ grounds in good, safe crfdw. It *0 all￿ for repays tts bè earritid out rf necessary. The Directors apwovad awards dwirnj ts yw è) 18 (K9￿15allons rewewkng (rnr 1.SQ) young people and 1[￿ indi¥Klual awards. as well as wovid*ig the use of Ihe sywnises to around 15 youth Awarding grants to individuats and ytyJth organtsath￿$ enables Y￿ng peo* in the area to take part ui a variety of acbv*ies and b8Mfft from help that Thy¥fyJ not Other￿ be available to them. Individuals have raceived fin*Kaal support fmrn Hilchin Y￿th TnMt to cover the cost of swrts activtbes and eXtracurr￿18r8(*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 i￿redible anK)unt of talent and comiti￿L 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 ur￿118 to go on a I￿Iday. 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 c*lldren. 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 tr*ir transwon to sxcmdary. t￿rtn9 the ywwo were ablo to HL¥n8 Stat k) c￿tinUe tr) run their • fan* support segsion at our premiso8. Thks provides he￿ aKI to vthathf*￿lQ$ in tho wea inwhnt SQC4al Interacth)n for children. Hitchin Youlh Tr￿t arè y￿￿d trj fernin IN(*￿d wblh the Hithin Food PThislon T￿fft whlth hel families in our area who are str￿￿n9 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 yO￿g people. Hltchin Youth Trust C¢)mpny Llmltad by Guarnnts• Trustees. Annual Report 11ncorpw￿ng 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 investsr*nt M￿ager from UBS in April 2023. The trust investrTWt policy re￿n$ 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 I￿rease in Grants £28271 {34.5%}. The fees ￿ to Cazertt)ve Captsl inveslmerrt Th￿nage￿ are ¢haryed at boil￿￿ 0.12%- 0.20% ofth& average charywble ¥a￿e, *ffticti is c¢xnparabty less thaTr UBS tharges. Each applcation for a grant is Considered indi¥iduaty and subpthd kn Ser￿1￿ based oft the needs ar#J situation of the apF4icant. Tr Directrs are awar• that demand coJld Incroase dramaticalty whlL* put a on fvrKls. I￿t there is a stnthrn in place to feviw polkies to make the necessary Changes to allow the Trust to 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 Investn￿t Marogers rf reqwal. Flx•d A•••t Inv••tm•nl• Note 16 8kthvs the split Of￿ b8t**en cash the movemts In the year. The relovant accounting trarntr￿ for the Trust 15 knunling and Re￿v￿.￿g by Charitses.. State￿￿nt of Recommended l>racti(x ap￿ICable to charilies weparivYJ their ac1x￿nts in accordartt with the Flnancial Reporting Stsndard aPpI￿able Nl the UK aThJ Republic of I￿land IFRS 102) (effective 1 January 2015) {Th• SORP,). In wilh the SORP, r￿ed a$5Ot nvestr)xnts are included In the b￿an￿ sheet al mats Va￿ at the year end and any unreal*d ￿n$ ￿ losses are included in In8uranc• The Tn￿t maintaris nsurance in res￿￿ofth6 rewthNJ iw on behalf ol the TrusL Pl•n• tor f￿1• p•rfod8 The fvnts Invest￿ are ¢* man•J¢d wilh tr 01¥￿*￿e of dgfvering a 5￿tainable lovel of totsl returns to the Twst. Hitchin Youth Trust Company Umllod by Guarantse Trust••s' Annual R•port (Inc01p￿afjng 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 ¢￿Ini￿ty 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 releV￿t kjcal Ory￿1$?1￿>ns arn1 indi¥thals to pycrfnoie the sepii¢es and fac￿lti.eS av￿18b1e To 1X￿tinUe the rollng lI￿Ye￿ Ixw to onsure tsAfth8 are kept to the hyh88t usable s￿dardS The Tnth, who are a80 Directors for the puryx)ses of LX)rryany l**, are responsib￿ for preparirwJ the trustees, rwt and the financial s*ments in accordan(x with appl￿b￿ law and United Kingdom Aox)unling Stand¥th {Uiited Krydom Ger• A￿Untir￿j PrxiK8). true and fair vtew of the st* of affairs of the charilabLe a)mpany and the Inc(m¥w resources and applicatK)n of re8ourLx. including the yKon* arhd expendthn per4)d. In preparing these firwcial slatsffwts, TnL8*es are requred to: prepare ￿ financial st*nxnts ba815 un18s8 tt18 thaFrfxothts to presume that the ¢hanty will ccrfinue in busirws. The Trustees we responsible for keepi￿ ￿ xa)unting records that are sulltlent to deff￿nStrate and explain Ihe charty's transxtions arKI di5¢k*e *ith reawiablo ac4)Jrxy at ary Ilme the fina￿la1 powtsn ofthe chwty arKI ￿able them to enswe that the financaal statem?nts comply wlth the C¢)mpanies Act21)06. we also wnsible forsafeguardiTrJ the assets ofthe chanty and hence for tsking r￿s(￿ablE steF6 for the preverikn and deteC1th￿ of fraud and Oltr￿r KreguFariiw. The Dlrwthrs ￿11￿ the of gcxxl as sel ￿t In the Charty Govern￿Ce Code The Directors *e te4Jonsible for ts m&thanc4 Writy ot the Included on tr compan￿$ 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 I1￿1n9. Le9I81ation in Unilod Kwig(kni gobwnwwj the •KI diswTiton offina￿TraI 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 a￿lItOr Is they have taken all steps that wght to have tkn as a Twslee to make themth wwafe of retevantaudit nfcmtion and loestablth thatthe ￿￿'sa￿ltrA is ware ofthat infr)rmation. grnall ￿￿anIeS exeTh¥knw. The Trustees, annual rewl was ap￿￿￿d ￿ 30 4Yll 2Q25 slw ￿ behlf of the Board of Trustees by: Peter Kelty Chair 11 Hitchln Youth Trust Company Limit•d by Guarantse Inde￿ndent Audllorf• R•port to tho Mwnbw8 of Hltchln Y¢xrth Trust Y•ar endod 31 August 2024 Oplnlon We have a￿1rted the ffftancial staterrnnts of Hrtdlin Ylxth Trust (the 'charity') for the year ended 31 August 2024 whKh the St*rnent of FIr￿CIal ActNiltr88, Stalement of Financial Pwtion and notes to ffnarKW staiements, indudmg a sunmwy of si￿1r￿ant 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 appl￿ble law. Our r88pon8lbil￿es 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 rel￿ant to ow audtt of the financk Statements In the UK IndudlrtrJ FRC'S Eth￿1 Standard, and ￿ h￿e fulfilled ow other ethiL*I responsibilities in aCCorda￿e with th88e rewirerrthts. ￿ beli￿ that the audit evlden(x we have obtained is sufflc*nt and appropriate to a basis for our opinM)n. In audrting the finanoal statements, we have cmc1￿ thatts Irustees. ofbkn wir#J L*ncérn bas18 ofattounw in the prnparation of the finanual statements is apwowat•. Based on the work we have [￿rf￿n￿d. we ha¥e rKrt identified ary n*rHI 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 respor*lbMlbes clthe tr￿teaS With res￿1 to gor*J (￿Cern are described in the relevant sactions cNlthis re[￿ 12 Hitchln Youth Tnmt Compny LIMIt￿ ty Guarants• Indow￿nt Audltorfs Report to tho IAwnb•rn of Hitshln Youth Tn*t(wth Year onded 31 AUg￿t 2024 included In the Annual ReFMrt ottw I1￿ th• fmaNJal slatw￿ts and (wr Rewt of tho IndeForthnt Auditorn thweon. Our oplnlc#) on the Ilnancial ststeftw￿ (kn5 ￿lI￿￿￿the olhwiif(Thbthon and we do not express any fomi of assurnnce condusion thereon. In cOnneC￿n with our audit ofts frfwwi41 sl*enwts, ujr resp￿$*￿ isto thè other Inforrr and. in dolng so, ￿￿ider the other Inform￿ ts n*rialy Inc4xsistent with the financial statements or our knvwledge obts￿ed n the audii ¢x 0th8f4¥ise aPP￿S to be matarialty misst￿. If, based on the have pwfwThd. conthde that thore is a mat￿la1 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 prep*ed is corraistent wilh Ihe fina￿la1 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 obtain￿1 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¢cL￿ntIl9 records ha¥* not been kert arr8￿m$ *lequate fry our audit have not been c￿l¥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, T￿pOnS￿lI￿e$ statem￿, the trustoes (who are also the directorsforthe purFxJses ofComp￿ry Iww) re¥onsibfetrthe weparaknn ofthefinancial Stater￿nts and for beng satisf￿d that they sive a true and fw ¥1￿. for suth niemal control as the trustees deterniine is necessary to enable the Fxepnkn of fm8￿111 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¢￿￿￿1*0J Y•ar ond•d 31 Augwt 2024 Ro•pon8lblllil•8 of tru•t••• ¢oniknu•d In prgpamg the financial stst￿￿￿, tr￿teeS are reSwnS￿>￿ as$8sslrrfJ the chanty's ability to continue as a golng ￿nCarn. diKloslrwJ, as Wkablè. matters related to going ￿n￿rn and using the going C4)nc4m basis of accwnllng unless Ihe trustees eilher intend to ll4uv￿e the chty or to cease Our M•POMlbllltl•• lor th• audlt dth• •tal•m are freè from material mi55taternnt, T•hether due to fraud or error. and to issue a Rowt of tho IndeperKlent AudÉtors that inchJdes our opinTon. Reasonable assuran¢e ts a high lovel of assuranco. but is nota guarantee that an authIcond￿xed in 8¢tordan¢e wilh ISAS (UKI will aws detect a materlal misslate￿nt when it exwts. M155tatth￿nts ￿ arr8e from fraud or 8￿)r￿￿ are cty$Klergd Iyotedal If. indbvidually or in the aggregate. Ihey could r￿￿nabfy be expecw to nfiuénL* tho èconomic decisions of users tsken on the basis of these finartial staten*nts. lThegulwitn4 indudng frwd. we of *ith l•ws and regulations. Wo design pr￿dureS in line with our responsiblilies, (xAIHxd above, to detec* ffoterlal ￿1$$￿te￿Ints in rèsréct of irregularibes, ind￿￿n9 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 IoFw*s, we idenl1r￿d the prncipal risks of non 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 i￿￿mIeS al gairo JKI k)58es fery)gnwed in the ye¥. All income and expeTrJiture derNe frc*m ¢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 fAtrus*es ar#J aUlhOr￿ forlgsue on 30 April 2025. and a . ned on b8haWof tho bo*d 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 En￿rf1 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 Ch￿8$ 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 Co￿an18$ 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 eXF*￿r Tha fin￿Cla 8t*ments *e wepared wi sknliNJ. wlith ts the fvnctr>nal C￿eY 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￿ we8￿1 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 st*ff*nts reqwes managen￿t lo mako judgements, estimats8 aThJ assunwtions all￿t an￿Unts rewted. These estivrotes and ludgements a (￿tinU￿￿ revivwed are based on exwIen￿ and other fadorn, incbJduvJ exr*ctst￿s of Fund ae¢ounil UnrestrKtsd funds are *4aable fr)r use at ts dl1cfetK￿ of tho trustees to any of the Desynated f￿d$ are umeslrithd •¥n￿￿ed by ts trus* far particular futur8 project or mmitrmnt R8strictwJ funds are subJ&tsd to restrKtions on theirexpendibjre deckred ty the dOnor￿th[wh the ter￿ of an apped and Wl into suklasses: rostrided furrfls or endowment Inomlw rn•ourn• ¢harlty, it is probable that the l*nofits associth with Ihe transaL*ion will ftow lo the i*ity and the can be relthty rn0a￿d. The bknving spwafic poI￿leS *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 0therY￿jth txganisatlon5 at rvJ charge are inckndod in the $i*IT￿nt of finartial activil*s 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 y￿th organisati￿lS at an hourty r* clwggd by similar premises wi the local The value of laalkns by ts Tr￿l 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 br*ding crJm5tment has ¢)It*r expendlJJre Indudes all eypenthture that is neither related to r8ly.ng ￿ndS for the Expendfture Indudes any VAT whtch c￿nOt be rKaverg1 is das6iffted under headlngs ofthe statem*rt of fin￿￿91 actrrfiiw to vthlch it relatss.. All costs are allocatsd to exponthre (ategorbs rel*clkng use of the resource. Direct costs athbutable to a skngle acirilty are albcaied dlredty to that acyvty. Shwed O￿ts are appcthned Tanglblo •••0ts Tangibleassetsare ￿lIalty rnc¢xded atrt and Subseq￿ stated *c¥Jst18ss a)y accumulated depreoatron &)d I￿all￿￿t k>s5es. kny tang** assets carried at revalued 8rrKJunts are recorded at the far vakn at the d* of revaluat#)n less any subSw￿t xcunwlated dep￿latIOn and An IrKrease In tho of ￿ as88t as a of a 1*￿J￿), is ￿nISed In other recognlsed gains and losses, urd8ss It rnverses a charge fw IMp￿n￿nt that has pray￿)uS1y be rwnlsed as eyndliwe wiihin ts statem￿t of financlal x*vrti8s. 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 ￿kn￿ated 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 1nVth￿ts we initHHy recuded at cos(8nd subsequenty ff*asur8d 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* indic*A)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 ￿ts1￿Y Is re(¥)￿15ed ¢xty thg W becomes a p¥ty to the 8asic financlal Instrumwts we Initi￿ty relxgnised at the arrwrt rerA1V￿ or payable induding any re￿d trar￿actIon CA￿ts, unless the aff￿e￿t consliiutes a financing transacbon. where it is recognisad at the present ¥a￿e ol tho fu￿re payrnnts discounted * a matht rnte of interest for a 8SmlFw debt instrumenL Current assels and ￿rrent li*illies ¥a ￿b$eq￿ty wwsuredat the cash or otherc¥Jnsideration expected lo be pavj or re¢epMI aThl dI￿1n￿l. Vdhero Investr)wnts in shares or shares we pulJi* tradad ￿ thfrw fak value c otherwi80 be ￿0S￿red reliabty. the invesfftnt is s￿>$equenty rn8asured at frdlr value with changes In lalr vthe rwnised and ev￿llUre. All other such investn￿nts are ith th8 rnlated seNice is pro¥Kled. Prepad contribulk￿5 are recogimsed as an asset to tr Llmlt•d by gu•rant•• The ffmpany is a Company Iwniied by arKI not a Sh¥e Caixtal. Tho Ilat411ty of Hitchin Youth Trust Company Llmltsd by Guarantee Notss to th• Flnanclal Stat•monts Year end￿ 31 Augu8t 2024 UnrostrKted Totsl Fund• UrneStr￿ Total Funds 2024 Funds 2023 Donatlon• Donaknons 1.￿7 Oth•r donatlon• and 10g•cI•• Cost of providing trdalllles free of charge to othw y(yJth organisatior 52,173 52.173 50,845 50,845 50,845 UnreslrIc￿ Fund• Umestrthd Total Funds Funds Funds 2023 212.488 271 212,488 271 57209 5,367 62,576 57.209 5.367 ff2.576 Bank ini8rest receivable 212,759 212.759 unrestri￿ Funth Unrestricted Total Funds 2024 Fund5 2023 Porlfolio maMgthM)t 12,021 12,021 12.021 20.228 20.228 20,228 20,228 12.021 Hltchln Youth Trust Company Llmltad by Gvarantoo Notss to the Flnanclal Slatomonts (eMtht•¢ Y•ar ended 31 August 2024 Unrestrthl Tqthl Fund• unrestric￿ Tthl Funds Funds 2023 Grants. Award8. Burwies •KI 132,765 79,271 4.637 1V2,785 79,271 4.637 216,673 85.385 79.123 5.010 169.518 85,385 79,123 5,010 169,518 In house Youth Grou Supwrt costs 216.6n Totsl ndA Total nds 2023 GMts, Awanls, Bursath Donations In house Youlh Groups Govemance costs 132.765 79.271 132.765 79.271 4.637 216,673 85,385 79.123 5.010 169,518 4.637 4.637 212.036 10. Oth•r •4￿nd1￿￿ Unrestithd Tatsl Funth Urrestrthd Totsl Funds FurMIs Funds 2023 Loss on disposal of tangljle fixed assets for charitys use 11. N•t ylrflov••l on InvB•lmw Unrnstiw*d T(4al Fund8 Unrestrthd T¢)tal Funds 2024 FuNI$ 2023 Realised ga#)81(losse8) ¢)n118ted Investrnents Unreallsed (b88es) on Istad invesknents 412 412 151887 152,887 (48,387) (46,387) Nel gains1(￿)58e$) on 362.678 362.678 106,5 106,500 Hitchln Youth Trust Company Llmlted by Guarant Nots8 to tho Flnanclal Statwnonts (¢• Year ond•d 31 August 2024 12. 14•1 Incom• 2023 Dewecialion of taThJible ￿ed assets Fees payable tho a￿lIt d the s*me 13. 81aff ¢o•ts 2023 Wag85 sala1es Errpbyor C(￿tributi¢m$ 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 N￿nber01 skff No TeceNed errpbrn offft)re £60.(x)O ￿TIng the yoar {2023'. NII). The Trustees of the tharty provide their se￿￿e5 voluntwity ar•J have rec8bv&J no remuneration or other tjenefits from the ch¥ty and we not incl￿d 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 FUn￿re, 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 l￿d 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 AUg￿t 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 Y￿r 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 inVeSth￿nts 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 ap￿tr￿d 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. Analy*kn rf ¢lwl•bl• l￿dI Transfer At 1 Septewlxr Gal￿ bet%￿n 31 August 2(r23 Ir￿orne EXpeTh￿re {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 EXp￿dI￿n (losses) 2023 General fvnds Capilal ex￿d￿lure 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 Credi￿10•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