Charity registration number: 512815 Young at Heart Annual Report and Financial Statements for the Year Ended 31 March 2024
Young at Heart Contents (continued) Reference and Adminlslrative Details Trustees, Raport 2to3 Statement of Trustees. ResponsibiJiti8S Independent Examinerfs R8POrt statement of Financial Activities 6t07 Balance She8t Notes to the Financial Statements 9t013
Young at Heart Reference and Administrative Details Chairnian C Donnelly Charlty Registration Number 512815 Principal Office Lonsdale HcAJse Unit 305A 52 Blucher Street Bimingham B1 1QU Matk A Jordan Independent examiner Knighton House 62 Hagley Road Stourbridge West Midlands DY8 1QD Independenl Examiner Page 1
Young at Heart Trustees. Report The trustees present the annual report trjgether with the financial statements of the charity for the year 8nded 31 March 2024. Objectlves and actlvities Objects and alms We offer help ar¥J support to families of babies and children receiving treatment for a cardiac ondition at the Birmingham Children's Hospital. We provide ward vlslts for famllles and work wlth the Cardiac Unit at Ihe Bimiingham Chiklren's Hospital. Our alm Is to brlng the famllles together at soclal events, where they can meet wlth other families, share experiences and make friends. Achlevements and performance We contlnue to have a dedlcated committee desixte havi som8 movement thts year with some committee members stepping down due to changes in their personal circumstances but have seen the addition of new trustees. Young at Heart continue to; Meet the increased demand of our Servi$ as a result of our growlng membership. Expanded the support that W8 offer to the families under the care of Birmingham Children's Hospitals Cardiac UnlL Suppljing memory glfts for famlles, bereavement support, care packages, superhero bears to name a few. Provide specialist equipment, indudlng INR machines. vthich enabled children and young people to safely monitor their health conditions at home rather than by frequent visits to outpatient clinics, D8fibnllators to the Paediatric Cardlac Unit for them to issue to famikes with a very rare cardiac condition. Sponsored a Fontan vnrkshop project put on by Birmingham Children's Hoswtal & donated specfalist Heart models to aid the training of the Paediatric Cardiac department al the Bimiingham Children's Hospital whlch also helps with the explanatlons given to parents when their babies are first diagnosed. Provided mor8 social 8V8nts than ever befor8 for our famllles. Thase induded, RAF Cosford. an Easler party, Motherfslcareers afternoon tea, Dad'slcareer's day OUL Dream nights, Drayton Manor. Halloween paty, Chrtstmas paty. Pantomime Trip and coffee momiNdS. Despite our growlng numbers we continue to ty and accommodate our members by sr)urcing bigger venues for srEcial events. Page 2
Young at Heart Trustees. Report (contlnued) Trnstegs and officers The trustees and officers seTving during Ihe year and since the year end were as follows: Trustees: C Donnelly C Webster E Byrne L Freeman (resigned 1 December 2023) J Ratcliffe (resigned 18 March 2024) J Curtis (resigned 12 Wil 2023) S Freeman (resigned 24 March 2024) J Ellis (resigned 8 June 2023) V Ellis (resigned 8 June 2023) K Bruton B Brown (appointed 24 August 2023 and reslgned 30 September 2024) A Obinna (appointed 24 August 2023) T Holmes P Welch (appointed 23 October 2023) S D Bisson (appointed 14 June 2024) K Roberts (appointed 14 June 2024) None of the Trustee's has any benefla1 interest in the company. Chairman: C Donnelty The annual was approved by Ihe trustees of the charty on 15 Octob8r 2024 and sign8d on its behalf by. Trustee Page 3
Young at Heart Statement of Trustees. Responslbllltles The trustees are responsible for pparing the trustees, port and the financial statements in accx)Tdance with the United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulats'ons. The law applicable to charities requires the trustees to prepare finanal statements for each financial year which give a true and fair view of the sLe of affairs of the charity and of the incoming resources and application of resources of the charity for that peri(xl. In preparing these financial ststements. the trustees are required to.. select suitable accounting policies ar¥J then appty them consistently. observe the methods and principles in the Charities SORP; make judgements and estirnate5 that are reasonable and PTudent; state whether applicable accounting standards have b88n followed. subj8ct lo any material departures dlsclosed and explained In the finandal ststements; and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in buslness. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial slatements comply with the Charities Act 2011. the Charities {Accounts and Reports) Regulations 2008, and Ihe promsions of the constitub'on. The trustees are also responsible for safeguarding the assets of th8 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are r8sponsible for the maintenance and integrity of the corporate and financial infomiation included on the charitable CoMpanS website. Legislation goveming the prepafi2tion and disseminakn'on of financial statements may ditfer from legislation in other jurisdictions. Appnyved by the trustees of the charity on 15 October 2024 and signed on its behalf by: E Byrne Trustee Page 4
Young at Heart Independent Examinerfs Report to the trustees of Young at Heart I report to the trustees on my examination of the accounts of Young at Heart for the year ended 31 March 2024. Responsibilities and basi8 of report As the charity trustees of Young at Heart you are responsible for the preparatlon of the accounts in accordance with the requirements of the Charilies Act 2011 (Ihe Act.). I rert in respect of my examination of the Young at Heart's accounts carried out under section 145 of the 2011 Act and in carrying out my examinalion I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the ACL Independent oxaminefs statement I have completed my examination. I confinn 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. accountiro records Vre not k8Pt in resp8Ct of Young at Heart as required by section 130 of the 2. the accounts do not accord with those records. or 3. the accounts do not comply wtth the accounting requirements concerning the fonn and content of 8ccounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirem8nt that the accounts give a 'true and falr vlew, 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 drdvm In this report in order to enable a proper understanding of the accounts to be reached. Mark Jordan Independent examiner Knigmon House 62 Hagley Road Stourbridge West Midlands DY8 1QD 15 October 2024 Pag8 5
Young at Heart Statement of Financial Actlvities for the Year Ended 31 March 2024 Unrèstricted funds Restricted funds Total 2024 Note Incom8 and Endowments from: Donations, legacies and grants Charitable activities Other incorne 13,664 45.007 1,405 11,769 25,433 45.007 1.405 Total Income 60,076 11,769 71.845 Exponditurn on: Raising funds Charitable activities Other expenditure Total experKllture Net incomel(expenditur8) Net movement in funds (2,724) (18,309) (25,224 (2,724) (34.736) 25.224) {62.684) 9.161 (16.427) (46,257 16.427 13,819 (4.658) 13.819 (4.658) 9.161 Raconcillatlon of funds Totat funds brought fop*vard Total funds rried fOard 48,073 6.452 54,525 11 61.892 1,794 63.686 Unrestrictod funds Re8trlcted funds 2023 Note Income and Endowments from: Donations. legacies and grants Charftable actNit¢es Other income 19,731 30,483 1,401 14.250 33,981 30,483 1,401 Total income 51.615 14.250 65,865 Expenditure on: Raising funds Charitable actmties Other expenditur8 Total expenditure Net income (3,365) (20,381) 15.698 {3,365) (29.721) 16,948 (9,340) 1,250 (39.444) 10,5901 150.034} 12,171 3.660 15,831 Net movement in funds 12,171 3,660 15,831 R8conc•liation of funds Total furKls brought forward Total funds carded forward 35.902 2.792 38.694 11 48.073 6,452 54,525 The notes on pages 9 to 13 fomi an integral part of these financial statements. Page 6
Young at Heart Statement of Financial Actlvitles for the Year Ended 31 March 2024 (contlnued) All of the charitys activiiies derive from continuing operations during the above two periods. The funfls breakdo for 2023 is shown in note 11. The rKJtes on pages 9 to 13 form an integral part of these financial statements. Page 7
Young at Heart (Reglstratlon number. 512815) Balance Shaet as at 31 March 2024 2024 2023 Note Flxed assels Tangible assets 2.251 7(X) Current assets Cash at bank and in hand 10 61.435 53.825 Net assets 63,686 54,525 Funds of the charlty: Restrletéd Income funds Restrictod fiJThJs 1.794 6,452 Unrestrictsd income funds Unrestrict8d funds 61,892 48,073 Total funds 63,686 54,525 The financial statements on pages 6 to 13 were approved by the trustees. and authoris8d for i55U8 on 15 October 2024 and signed on their behalf by: /2JA. Trustee The notes on pages 9 to 13 form an integral part of these financial statements. Page 8
Young at Heart Notes to the Financial Ststements for the Year Ended 31 March 2024 1 Accountlng policies Statement of cornpllance The financial statements have been prepared in accordance with the second edition ol tha Charities Statement of ReGomrnended Practice issued in October 2019, the Financial Reporting Standard applicable in the United lfjngdom and Republic of Ir8land (FRS 102) and the chare$ Act 2011. Basls of preparation Young at Heart meets the def5nition of a public benefft entty under FRS 102. The 8CCt)unts (fin8nco1 statements) have been prepared under the historical cost IVentiOn with items recognised at cost or transaction value unless otherwise stated in the relevant note(s} to these aGGounts. Going concern The trustees consider that there are no material uncertainties about the charitys abilty to continue as a going concem. Income and endowments Voluntary income induding donations, gifts. legacies and grarkts that provide core funding or are of general nature is recognised when the charity has entitlement to the income. it is PTobable that the income will b8 received 8nd the amount can be measured with suffirient raliability. Donatlon$ and legacles Donations and legacies ar8 recognis8d on a receivable basis vthen receipt is probable and the amount can be reliably msasured. Grants recelvable Grants are recognised when the chaiity has an entitlent to the funds and any condbtlons linked to the grants have been met. Where perforniance conditions are attached to the grant and are yet to be met. the income is recognised as a liabiltty arxl included on Ihe balance sh88t as d8f8rr8d income to b8 released. Expendlture All expendiiure is r8cognis8d once ther8 ts a legal or constwctive obligation to that expendituTr, it is probable settlem8nt is required and the amount can be measured lIablY. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that Gatsgory. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent wilh the use of resources, with c8ntral stsff costs allocated on the basis of time snt, and deyeciallon charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Ralslng fiinds These are costs incued in attracting voluntary income, the management of investments those incurred in trading actIveS that raise funds. Page 9
Young at Heart Notes to the Financial Ststements for the Year Ended 31 March 2024 (continued) Charitable exr*nditure comprises Ihose costs incurred by the charity in Ihe delivery of its activities and services for its ben8ficiari&s. It includes both costs that ran be alk)caled diTedly to SUGh activibes and those costs of an indirect nature necessary to support them. Support costs Support costs in(aude central functions and have been allocated to activity cost ¢2tegories on a basis consistent with the use of resources, for example. allocating property costs by floor areas. or par capita. staff costs by the time spent and other costs by their Lwe. Taxatlon The charity is considered to pass the tests set out in Paragraph 1 Schedthe 6 of the Firkince Act 2010 and therefore it meets the definition of a charitable company for UK corporation tsx purposes. Accordingty, the tharity is PQtentially exempt from tsxation in respect of incom8 or capital gains received within cat890ri8S COV8r8d by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Secllon 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exdusNety to charitable purposes. Tanglble fix•d a&%ts Indidual fed assets costlng £0.00 or more are initialty recorded at cost. less any subsequ8nt accumulated depreciation and subsequent accumulated impairment losses. D8pYeclation and anorlisalion Depreciation is provided on tangible red ass8ts so as to wtite off the cost or valuation, less any estimated reSual value. over their expected Us1 economic lrfe as fol0. Depreciation method and rate 20% straight lin8 Fumiture and Equipment Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call dep)sits. and other short-term highty IKiuid investments that are readily convertible to 8 known amount of cash and are subject to an insignffiGant risk of change in value. Fund structure Unrestricted Income funds are general funds that are available for use at the trustees discretion in furtherance of the obieclives of the charity. Restricted income fvnds are those donated ft)r use in a particular area or for spocific purposes. the use of which is restricted lo that area or purpos8. Page 10
Young at Heart Notes to the Financial Statements for the Year Ended 31 March 2024 (Gontinued) 2 Income from donations, lega¢les and grants Unrestricted funds General Restrlcted funds Total funds Donations and legacies; Donations from individuals Grants. including capital grants; Grants from other charities 8,984 8.984 4.680 11.769 16.449 Total for 2024 13.664 11.769 25.433 T¢)tsl for 2023 19,731 14.250 33,981 3 Income from charitabh adivitws Unrestrlcted funds Gonaral Total funds Donations and fundraising 45.007 45.007 Total for 2024 45.007 45.007 Total for 2023 30,483 30.483 4 Expenditure on charitable activtties Unrestrlcted funds General Restrfcted funds Total 2024 Family support donations and gifts 18,309 16,427 34,736 Unrestrlcted funds Generdl Restrlcted funds Total 20rJ Family support donations and gifts 20,381 9,340 29,721 Page11
Young at Heart Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 5 Other exp•ndlture Unrnstricted funds General Restricted funds Total funds Independent examiner fees Examination of the financial statements Other resourc68 exp8nded Total ftir 2024 1,500 23.724 1,500 23.724 25.224 25.224 Total for 2023 15.698 1.250 16,948 6 Tyusteos remuneration and expenses No trustees. nor any petsons connected with them. have received any rernuneration frun the charity durlng the year. 7 Independent oxamin•¢s remuneratlon 2024 2023 Examination of the financial ststements 1,500 1,500 Taxatlon The charity is a registered chaiity and is therefore exempt from taxation. 9 Tanglble fIX ass•ts Fumlture and aquipmont Total Cost At 1 April 2023 Additior 875 2,158 875 2.158 At 31 March 2024 3,033 3,033 Depreclatlon At 1 April 2023 Charge for the year At 31 March 2024 175 607 175 807 782 N•t book value At 31 Mah 2024 2.251 2.251 At 31 March 2023 700 700 Page 12
Young at Heart Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 10 Cash and cash equivalents 2024 2023 Cash at bank 61.435 53.825 11 Funds Balance at 1 Aprll 2023 Incomlng Resources expend Balance at 31 March 2024 Unftricted funds General 48,073 60.048 (46,229) (16,427) 61.892 Restricted funds 6.452 11,769 1,794 Total funds 54,525 71.817 (62,656) 63,686 Balance al 1 Aprll 2022 Incomlng resourc8S Resources expended Balance at 31 March 2023 Unrestricted funds General 35,902 51,607 (39,436) 48.073 Restricted funds 2,792 14.250 10,590 6.452 Total fvnds 38,694 50,026 54,525 12 Analysls of net assets between funds Unrestricted funds General Total funds at 31 March 2024 Restrlcted funds Tangible fixed assets Current assets 2,251 59,841 2,251 61.435 1.794 Total net assets 61,892 1.794 63.686 Unrestrlcted funds General Total funds at 31 March 2023 Restricted funds Tanglble Ilxed assets Current assets 700 47.373 700 53,825 6,452 Total net assets 48,073 6.452 54,525 Page 13
Young at Heart Statement of Flnan¢ial Actlvities by fund for the Year Ended 31 March 2024 Total Total Unrestricted Unrestrlcted Funds Funds 2024 2023 Income and Endowments from: Donations, legacies and grants Charitable actmties Other income 13,664 45.007 1,405 19.731 30,483 1,401 Totsl income 60.076 51.615 Expenditure on: Raising funds Charttable acliviti8s Other expenditure Total expendiknre Net income (2,724) (18,309) (25.224 46.257 <3.365) (20,381) {15,698) {39,444) 13.819 12.171 Net movement in funds 13.819 12,171 Reconciliatlon of funds Total funds brought forward Total funds rrIed forward 48.073 35,902 61,892 48,073 This page does not fom part of the statutory financial statements. Page 14
Young at Heart Statement of Financial Actlvltles by fund for the Year Ended 31 March 2024 (continued) Totsl Total Restricted Restricted Funds Funds 2024 2023 Income and Endowm•nts from: Donatlons, legacies and grants Total income 11,769 14.250 11,769 14.250 Expendlture on: Charitable activities Other expendilure Total expenditure Net {expenditU>[lncXjffle Net movement in funds (16.427) (9.340) 1.250 16,427} 14.658) 10,590 3,660 (4,658) 3,660 Reconciliation of funds Total fvnds brought forward Total funds carried forward 6.452 2.792 1,794 6.452 This pag8 does not fomi part of the statutory financlal statements. Page 15
Young at Heart Detailed Statement of Flnanclal Actlvltles for the Year Ended 31 March 2024 Total 2024 Total 2023 Income and Endowments from: Donatlons, legacies and grants {analyBed below) Charitable actNities (analed below) Other irKome (analysed below) Total income 25,433 45,007 1.405 33,981 30,483 1,401 71,845 65,865 Expondllure on: Ratsing fvnds (analysed below) Charitable activiti88 (analyEed below) Other expenditure (analysed below) Total expendlture Net income (2.724) (34.736) (25.224 (3.365) (29.721) (16.948) 62,684) 9.161 (50.034) 15.831 Net movement in funds 9,161 15.831 Reconciliatlon of funds Total funds brought forward Total funds carried forw8rd 54,525 38,694 63.686 54.525 This page does not fonn part of the statutory financial statements. Page 16
Young at Heart Detalled Statement of Flnanclal Actlvitles for the Year Ended 31 March 2024 (continued) Total 2024 Totsl 2023 Donatlons. legacies and grants Appeals and donations Grants - other agencles restrlcted Grants - other agencies 8,984 11,769 4.680 9.080 14,250 10.651 25,433 33.981 Charftable activltlas Fundrdising 45,007 30.483 45.007 30.483 Other income Other income Bank interest recelvable 1,377 28 1,393 1,405 1,401 Ralslng fund$ Fundraising costs Paypal charges (2.609) {115} 2.724 (3,365) {3,365) Charitable actlvltles Family support, donations and gifts restri(led Family Pport, donations and gifts (16,427) (18,309) 34,736 (9,340) (20,381) 29.721 Other expenditure Insurance DgpreGiation of fixtures and fittings Staff training Telephone and fax Printing. postage and stationery restricted Printing. postsge and ststionery Trade subscriptions Sundry expenses - Christmas paty Sundry expenses Trustee expenses Advertising Accountancy fees Renl restric Rent (216) (607) (821) (394) (367) (175) (335) {145) (3.264) (498) {6.293) (105) (2.354) (807) (1.500) (1,105) (2.769) (725) (6.211) (159) (3.518) (1.489) (1,500) (6,815) This page does not fomi part of th8 ststutory financial statements. Page 17
Young at Heart Detailed Statement of Flnanclal Activities for the Year Ended 31 March 2024 (continued) Total 2024 Total 2023 (25,224) 16.948 This page does not fom part of the statutory financial statements. Page 18