REGISTERED CHARITY NUMBER: 305244
Hastings Youth Trust
Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2023
Deeks Evans Audit Services Limited Chartered Accountants 36 Cambridge Road Hastings East Sussex TN34 1DU
Hastings Youth Trust
Contents of the Financial Statements for the Year Ended 5 April 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
Hastings Youth Trust
Report of the Trustees for the Year Ended 5 April 2023
The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102) in preparing the annual report and financial statements of the charity.
OBJECTIVES AND ACTIVITIES
Objectives and aims
In the interests of social welfare to provide and assist in the provision of facilities (including the organising of any activity for recreation and other leisure-time occupation) for young persons resident in the Borough of Hastings or within five miles thereof being persons having need of such facilities by reason of their youth or social and economic circumstances and with the object of improving the conditions of such persons life.
To promote and provide facilities for the religious and social education and training of such young persons.
To promote and provide facilities for the education and training of persons to be youth leaders.
To further any other charitable purpose for the benefit of such young persons, provided always that in furtherance of the said objects no distinction shall be made between persons on the grounds of race or political or other opinions.
ACHIEVEMENT AND PERFORMANCE
Throughout the year the trustees have achieved their aims by considering a number of applications and awarding grants. They have committed themselves to pay grants as shown in the accounts. All grants are consistent with the charity's legal objects and its rules.
FINANCIAL REVIEW
Financial position
The charity's financial position shows a deficit for the year of £51,255 (2022 Surplus £74,001) and net assets decreasing from £962,898 in 2022 to £911,643 in 2023.
Reserves policy
The trustees maintain reserves to meet their commitments and aim, after meeting their expenses, to distribute the charity's income by way of grants.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is constituted under a trust deed dated 8 December 1967.
Recruitment and appointment of new trustees
The power of appointing new trustees is currently vested in the continuing trustees.
Organisational structure
The trust rules record the organisational structure and the way that decisions are made by the trustees. In particular, the trust rules provide for a grants committee comprising three trustees and three appointees to investigate all grant applications and to approve applications by individuals up to £250 and by institutions up to £500.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
305244
Principal address
Glenwood 151 Old Roar Road St. Leonards-On-Sea East Sussex TN37 7HH
Trustees
J L Parrott V L Spice T S Novis C M D Norcock M D Garrad A Gill
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Hastings Youth Trust
Report of the Trustees for the Year Ended 5 April 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Deeks Evans Audit Services Limited Chartered Accountants 36 Cambridge Road Hastings East Sussex TN34 1DU
The trustees have taken due regard to the guidance published by the Charities Commission on public benefit. Approved by order of the board of trustees on 20 May 2023 and signed on its behalf by:
T S Novis - Trustee
Page 2
Independent Examiner's Report to the Trustees of Hastings Youth Trust
Independent examiner's report to the trustees of Hastings Youth Trust
I report to the charity trustees on my examination of the accounts of Hastings Youth Trust (the Trust) for the year ended 5 April 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
R J Young FCA
Deeks Evans Audit Services Limited Chartered Accountants 36 Cambridge Road Hastings East Sussex TN34 1DU
20 May 2023
Page 3
Hastings Youth Trust
Statement of Financial Activities for the Year Ended 5 April 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 500 Investment income 2 25,827 Total 26,327 EXPENDITURE ON Charitable activities Administration costs 2,910 Grants payable 40,718 Total 43,628 Net gains/(losses) on investments (33,954) NET INCOME/(EXPENDITURE) (51,255) RECONCILIATION OF FUNDS Total funds brought forward 962,898 TOTAL FUNDS CARRIED FORWARD 911,643 |
2022 Total funds £ - 24,893 24,893 3,413 18,113 21,526 70,634 74,001 888,897 962,898 |
|---|---|
The notes form part of these financial statements
Page 4
Hastings Youth Trust
Balance Sheet 5 April 2023
| Notes FIXED ASSETS Tangible assets 9 Investments 10 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 500 871,861 872,361 40,183 (901) 39,282 911,643 911,643 911,643 911,643 |
2022 Total funds £ 500 905,815 906,315 57,442 (859) 56,583 962,898 962,898 962,898 962,898 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 20 May 2023 and were signed on its behalf by:
T S Novis - Trustee
The notes form part of these financial statements
Page 5
Hastings Youth Trust
Notes to the Financial Statements for the Year Ended 5 April 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Freehold property
Depreciation is provided on tangible fixed assets at rates calculated to write off the costs over their expected useful economic life as follows:
Playing fields - no depreciation
Investments
Investments are stated at the market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations in the year.
Debtors and creditors
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
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Hastings Youth Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
2. INVESTMENT INCOME
| 2023 £ Dividends 25,381 Deposit account interest 446 25,827 3. GRANTS PAYABLE 2023 £ Grants payable 40,718 The total grants paid to institutions during the year were as follows: 2023 £ Hastings Easter Festival 3,000 Westerleigh Judokwai 1,610 Hastings Athletic Youth Football Group - goal posts 4,035 De La Warr Pavilion 1,000 Hastings & District Scouts 11,700 Team Seed 1,475 Christian Schools Workers 1,700 Others 900 25,420 4. SUPPORT COSTS Governance Management Finance costs £ £ £ Administration costs 2,186 94 630 |
2023 £ 25,381 446 25,827 2023 £ 40,718 |
2022 £ 24,884 9 24,893 2022 £ 18,113 |
|
|---|---|---|---|
| 2023 £ 3,000 1,610 4,035 1,000 11,700 1,475 1,700 900 |
2022 £ 2,800 - 2,599 - - - - - |
||
| 25,420 | 5,399 | ||
| Totals £ 2,910 |
Governance costs comprise £630 (2022- £564) payable to the independent examiner.
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.
continued...
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Hastings Youth Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
6. STAFF COSTS
The charity had no employees. (2022 - nil).
7. EX GRATIA PAYMENTS
Honoraria of £1,250 (2021- £1,250) was paid to the clerk for their administrative work for the charity.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||
|---|---|---|
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Investment income | 24,893 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Administration costs | 3,413 | |
| Grants payable | 18,113 | |
| Total | 21,526 | |
| Net gains on investments | 70,634 | |
| NET INCOME | 74,001 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 888,897 | |
| TOTAL FUNDS CARRIED FORWARD | 962,898 | |
| 9. | TANGIBLE FIXED ASSETS | |
| COST | Playing field £ |
|
| At 6 April 2022 and 5 April 2023 | 500 | |
| NET BOOK VALUE | ||
| At 5 April 2023 | 500 | |
| At 5 April 2022 | 500 | |
continued...
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Hastings Youth Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
10. FIXED ASSET INVESTMENTS
| MARKET VALUE At 6 April 2022 Revaluations At 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022 There were no investment assets outside the UK. 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 12. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 26,327 TOTAL FUNDS 26,327 Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 6.4.22 £ 962,898 962,898 Resources expended £ (43,628) (43,628) At 6.4.21 £ 888,897 888,897 |
Listed investments £ 905,815 (33,954) 871,861 871,861 905,815 2023 2022 £ £ 901 859 Net movement At in funds 5.4.23 £ £ (51,255) 911,643 (51,255) 911,643 Gains and Movement losses in funds £ £ (33,954) (51,255) (33,954) (51,255) Net movement At in funds 5.4.22 £ £ 74,001 962,898 74,001 962,898 |
|---|---|---|
continued...
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Hastings Youth Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 24,893 | (21,526) | 70,634 | 74,001 |
| TOTAL FUNDS | 24,893 | (21,526) | 70,634 | 74,001 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 6.4.21 £ 888,897 888,897 |
Net movement in funds £ 22,746 22,746 |
At 5.4.23 £ 911,643 911,643 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources Gains and resources expended losses £ £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 51,220 (65,154) 36,680 |
22,746 |
| TOTAL FUNDS | 51,220 (65,154) 36,680 |
22,746 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2023.
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Hastings Youth Trust
Detailed Statement of Financial Activities for the Year Ended 5 April 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 500 | - |
| Investment income | ||
| Dividends | 25,381 | 24,884 |
| Deposit account interest | 446 | 9 |
| 25,827 | 24,893 | |
| Total incoming resources | 26,327 | 24,893 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to institutions | 25,420 | 5,399 |
| Grants to individuals | 15,298 | 12,714 |
| Support costs | 40,718 | 18,113 |
| Management | ||
| Insurance | 589 | 596 |
| Postage and stationery | 243 | 135 |
| Web site expenses | 84 | - |
| Sundries | 20 | 40 |
| Maintenance | - | 720 |
| Honoraria | 1,250 | 1,250 |
| Finance | 2,186 | 2,741 |
| Bank charges | 94 | 108 |
| Governance costs | ||
| Accountancy and legal fees | 630 | 564 |
| Total resources expended | 43,628 | 21,526 |
| Net (expenditure)/income | (17,301) | 3,367 |
This page does not form part of the statutory financial statements
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