**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 Page 1 **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: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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... Page 6 **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... Page 7 **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... Page 8 **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... Page 9 **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. Page 10 **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 Page 11