The Young Fund
Statement of fmancial activities
For the year ended 30 June 2023
Rcstticted
fiinds
2023
Total
funds
2023
TotAI
funds
2022
Note
Income from:
Invcstmcnts
2,347
2J47
3.705
Total income
2,347
2,347
3,705
Expgnditure on:
cl]￿lt￿bIc actiirfities:
Disbursements to beneficlary
Governance costs
4,023
15,194
4,023
15,194
3,553
13,811
Total expenditure
19.217
19,217
17,364
Net gakns/Oosses) on investments
4,495
4,495
(15,430)
Net movement In funds
(12,375)
(12,375)
(29,089)
Reconclllatlon of funds:
Total funds brougl)t fonvard
Net movement in ￿ndS
622,270
(12,375)
622,270
(12,375)
651,359
(29,089)
Total fund5 carrled forward
609,895
609,895
622,270
All amounts re12te to continuing operations.
The Statement of fin2ncAAI actkvities indudes all gains and1055es recognised in the year.
Tlie notc5 OTh pages 9 to 16 form part of these financial statement5.
P￿¢7

The Young Fund
Balance sheet
For the year ended 30 June 2023
2023
2022
Note
Fixed assets
Tangible a55ets
Investment5
407,846
203,533
417,696
203.0fv1
611,379
620,760
Current assets
Debtors: amounts Falling due ivithin onc )FeAr
Casli at bank and in Iiand
io
495
497
421
1,613
916
2.110
Creditors: amounts Falling due ivitliin onc JFear
li
(2,400)
(600)
Net current liabilities l assets
(1,484)
1,510
Total net assets
609,895
621270
Charlty funds
RestLlCted funds
12
609,895
622.270
Total funds
609,895
622,270
"rile fixiaiicial statelnents l)*ire been pre￿red in accordance ivith thc pioilisions of IIRS 102 - Section IA sniqll
entitie5.
Tlic finaiici21 st*tcmcnts ivere approved and autllorised For issue b), tlie Trustcc on 29 April 2024 and signed on
tlieir belisdf b)'-
Cleavet F
(rrustee)
ton Rankin Ttustees Limited
Tlie notes on pAge5 9 to 16 form psEtt of these financial statements.
P4e8

The Young Fund
Notes to the financial statements
For the year ended 30 June 2023
General informatlon
Tlie Young Fund is xn unincorpoiated tLUSt. Its principal o[r￿e is 50 Bedlord Street, Bclfasc. BT2 7FKXI and
it l)as a charity registration number of 104656.
Accounting pollcles
2.1 Basis of preparation of financial statements
Tlie [￿anCIal statements 2re pIepared on a going concern basis, undcr die historical cost convention
unless otlieThvise noted An the accounting policies beI￿v. They liave been prepared in accordance iwtli
applicable Ixiv and accounting stondards issued by the Financi21 Reporting Council. including FRSI 02
"Tlie F￿anCIaL Reporting Stsndard Applic2ble in tlie UK and Republic ol Ireland" ("FRS102"), And tlie
StAtcment of Recommended PrActice - Accounting and Repoiting by Charities, effectiire l Januar}1 2019
C'SORP,).
The Young Fund constitutes a pub]ic benefrt entity 25 defincd b), FRS 102.
The fin2nci21 ststemcnts are presented in Sterling (£).
2.2 Going concem
The trustees have assessed that The Young Fund lias adequate resources to meet die ongoing costs of
tlie enUtI' For a minimum of 12 mond15 from thc date of signing die finarAcial statements. For diis
eason the financial stAtcmcnts have been prepared on A going concein basis ivhicli Prc5￿￿e5 tlie
ieali5Ation ol as5Cts and liabilitses ￿ dic normal course of business.
2.3 Income
All irLcome 15 iecognised once the T￿st has cntitlement to tlie income, it 15 probable that tl)e income
vill be received and tlie amount of income receivable be meas￿ed reliabl),.
Investmcnt income is included when receivable.
2.4 Expenditiite
Expendi￿re 15 Iccognised once th￿e is a legAI or consttuctiire obligation to trAnsfer economic benefit to
a diird part),, It is pxob2ble diat a transfer of economic benefits iirill bc required in settlement and the
amount of the oblgation can be measured reliabl}'. Expcnditute is dassified by %ctiviti'. The costs ol
cAclI actiVityF ate made up of thc total of direct costs and sl)2red costs, including suppoit costs involved
in undeitaking each activity. Direct costs 2ttributablc to a single actiirAtyy are 8llocsLted directl>, to tliat
ctivAtI,. SlIArcd costs ivllldi contrlbutc to Anore tlian one activityr and support costs ivl]icl) qre not
attributable to 3 single Activitsi are apportioned bettveen diose activities on a basi5 COnSlStent ivitl) tlie
use OE resourcc5. Central staff costs are Allocated on die basis of time spent, and depIectation chargcs
llocated on the portion of die Asset's use.
Governance costs include those costs associated ivith meeting the constitutional and stattltory
iequircments of the twst.
Illl expenditure 15 inclusive of irrecoverAble VAT.
Page 9

The Young Fund
Notes to the financial statements
For the year ended 30 June 2023
Accounting policies (continued)
2.5 Tangible fixed assets and depreciation
Tangible fixcd assets are initiall}. recogntsed 2t cost. After re.M￿ltI￿n. linder tlie cost model. tingible
fLNed assets are measurcd At cost less accumu]ated depreciation And any accumulated impairnicnt losscs.
All costs incurred to bring a tangible fixed asset Anto its intended ivorking condition should be included
in tlic Lneasurement of cost.
Depieciation 15 cl)arged so As to allocate tl)e cost of tangiblc fix-cd assets less tlieir rc5idual value over
tlieit cstin]ated useful lives. on thc folloiving bAsi5:
FKeeliold property
50 }rears
2.6 Investinents
Filed asset ￿vestmentS are a form of E￿ancIal instruinent and are initiall}T Tecognised at tlicir transRction
cost and subscquendy measuicd At fAir value at the BalAnce slieet date. unlc5S the value cannot be
mellsuied ieliably in ivliicli case it As measured at cost less impairmcnt. Investment gains and 105ses,
vliedier realised or unre21ised. are combined 2nd presentcd as 'Gains/(Losses) on iniFestmeThts' in tlie
Statcment of financial actiiTities.
2.7 Debtots
Trade and other dcbtors Are recogni5cd at the settlement amount after an), trade discouot offered.
I)tCPiq)Tments are valued 14 t tlic amount prepaid net of An}, trAde discounts duc.
2.8 Casli at bqnk and in hand
C2sli at bank and in hand mcEudes cAsli and sliort-term Iiighl), liquid investments IVLtli a sliort m2turi0'
of dirce montlis or less from the date of acquisition or opening of the dep05Lt Ol similar accoiint.
2.9 Liabilitles and provisions
Liabilities arc Iccognised ivhen there is an obhgation at tl)e Balance slieet date as a rcsult of a past event,
it fjs probqble tliat a transler ol cconomic benefit ivill be iequired in settlement, ￿nd tlie amount OF tlic
settlement cAn be estiinated Ieliabl}'.
Liabilities Arc reco￿lsed at the amount diat tlie Trust #nticlpates At ivill pa}, to 5Ctdc die debt or the
amount it l)2s rcccivcd as advanced payments for the goods or service5 It must provide.
Provision5 are measured at the best esttn]2te of the Amounts required to settle thc obligation. IX41eKe the
cfEcct of the time value of mone}F is material. tlic provision is ba5cd on the present v2lue of tliose
amounts. discounted At die pre-tax discount rate that tcflccts die risks specific to the li2bi]its,. Tlie
univinding ol the dA5count ts iecognised in dic Statement of financtal activities as a fioance cost.
Page 10

The Young Fund
Notes to the ffftancial statements
For the year ended 30 June 2023
Accounting policies (continued)
2.10 Fiind accounting
GenerAI ￿ndS ire unrestrictcd funds ivhicli are Available for use at the discretion of tlic Tiustee in
furtlierance of the general objectivc5 01 the TKust and ivliicb liave not bccn dc51gn%ted foi otlier
purposes.
Restricted fi]nds are EuThds ivliicli are to be used in accord2nce ivitli specific restrictions imposed b},
donors or ivhich have been raised by the Trust for particular purposes. The costs of iaising Rnd
administ￿￿tig sucli fi]nds are chargcd against the specific fund. Tlie Aim usc of each restrACted futid
15 set out in the notes to the fiAaocA21 statements.
Critical accounting estimates and areas of judgement
Estimates and judgements are iequired ivlien applying accounting policies. 11iese are continuall), evaluated
and are based on Iiistoiical cxpcricnce and otlier factors, induding expectation5 01 Future events d)at are
bclicvcd to be reA50nxble under tlie circumstances.
The trust makes estimates and assumption5 conceming the future, Ivl]icli cfin inirolirc a l]igli degree of
judgemcnt or complcNit5'. The resulting #ccounting estimAtCs ivill. b), defmiuon. seldom equal tlie relRted
actual results. Tlie estimates 2nd assumption5 that haire x significant tisk of cAus1t￿ a inatcrixl adjustsnent to
the cAr4ring amout]ts ol A55Cts And li2bilities ivid)in tlye neyt [￿8￿ciAl }Tear are Addics5cd beloiw.
Fait value of iThvestments
Uses v%krious valuation techniques to detemiine the fair value of financial instruments (Ivliere 2ctive mArkct
quotes are not aya￿able} and non-financial asscts. Tl]i5 involves deireloping estimatC5 and assumptions
consistent ivitli Iioiv market patticipAnts ivold price tlie instnllnent. Tlic trustee bases its assumptions on
obseThrable data as far as possible but d]is ts not alivays avxilable. In tl)ftt case, management uscs die best
inlonnation availAble. Estimated fair values may vafj, From the actu21 prtccs that ivould be acl]ieired in an
arm's length transacuon At die reporting date
Usefiil economic lives of tangible assets
The annual depreciation charge for t￿n￿ble a55cts AS sensitive to changes in the cstimated use￿1 economic
lives and residufil vAlues of the Assets. The use￿1 economic IiiTes fLnd rcsidukl values are re-assessed annuaU}'.
The}r ate amended ivlien necessar), to rcflect current estimates. based on ￿tll[e investtncnts, cconomic
utilisatson ind die physical condition ol the assets.
Page11

The Young Fund
Notes to the f￿anCIal statements
For the year ended 30 June 2023
Investment income
Restticted
funds
2023
Total
fiinds
2023
Listed inire5tments
2,347
2,347
Total 2023
2,347
2,347
Restricted
fi]nds
2022
Total
Funds
2022
Listed iniTCStnients
3,703
3,703
Investment income- otlicr
Tot812022
3,705
3,705
Analysls of expenditure on charitable activities
Siinimary b). fiiiid type
Restricted
fiiiids
2023
Total
2023
Disbutsements to benefici41ry
Inirestment cypcnses
Govern&nce aypenditure
4,023
13.080
2,114
4,023
13,080
2,114
19.217
19,217
Page 12

The Young Fund
Notes to the fmancial statements
For the year ended 30 June 2023
Analysis of expenditure on charitable actlvltles (contlnued)
Summary by fund type (continued)
Restricted
funds
2022
Total
2022
Disbursements to beneficiary
Investment expenses
GovcInAncc LNpcnditurc
3.553
10.970
2,841
3,553
10,970
2,841
17,364
17.364
Independent gxaminor's remuneration
The independent examinegs iemuneration amounts to an independent examiner fee of £1,800 (2022 -
£600).
Resources expended
During the )iear. no Twstees received any remUn￿atIOn (2022 - £NIL).
Diiring the }Icar, no Trustce5 received Rn}. benefits in kind (2022 - £NIL).
During the year, no Trustees ieceiired any reimbursement of expenses (2022 - £NIL).
As detailed in Note 14, the Trnstee5 received remuneration for sen*ices ￿fidered to the Tmst in die cuirent
ycar.
Pa9e 13

The Young Fund
Notes to the financial statements
For the year ended 30 June 2023
Tangible fixed assets
Fteeliold
propeity
Cost ot valiiation
tlt l July 2022
492,500
At 30 June 2023
492,500
Depteciation
At l Jul), 2022
cli¢￿ge for the year
74,804
9,850
At 30 June 2023
84,654
Net book valiie
At 30 June 2023
407,846
At 30 June 2022
417,696
Fixed asset investments
Listed
investineiits
Cost ot valiiation
At l Jul), 2022
Additions
Disposals
Chi1ngc in market value
203,064
118,414
(122,441)
4,495
At 30 June 2023
203,533
Net book valiie
At 30 Junc 2023
203,533
At 30 Juoe 2022
203,064
Page 14

The Young Fund
Notes to the f￿ancial statements
For the year ended 30 June 2023
10.
Debtors: Amounts falling due wlthln one year
2023
2022
PIepayments and accrued income
495
497
495
497
Creditors: Amounts falling due within one year
2023
2022
Accruals and deferred income
2,400
600
12. statement of funds
statement of funds - current year
Balance at I
July 2022
Gains/ Balance at
(Losses) 30 June 2023
Income Expenditiite
Restticted fijnds
Restricted Funds - oll ￿ndS
622,270
2,347
(19,217)
4,495
609,895
Statement of funds - prior year
BAIAncc at
Gains/
Balance at
(L05scs) 30 June 2022
l July 2021
Income Expcnditurc
Restricted fiinds
Restricted Funds - Ill ￿ndS
651.359
3,705
(17,364)
(15,430)
622.270
Page 15

The Young Fund
Notes to the financial statements
For the year ended 30 June 2023
13. Analysis of net asset5 between funds
Analysis of net assets between funds - current year
Restricted
fiinds
2023
Total
riinds
2023
Tangible fLYed assets
FiNcd Asset investments
407,846
203.533
916
407,846
203,533
916
Current assets
Cieditors due iVAtliin one yeat
(2,400)
(2,400)
Total
609.895
609,895
Analysis of net assets between funds - prior year
Restricted
fiTnds
2022
Total
fiinds
2022
Tangible fixed assets
Fiyed asset investmcnts
Current assets
Credit015 due iwtliin one year
417.696
203,064
2,110
(600)
417.696
203,064
2,110
(600)
Total
622,270
622,270
14.
Related party transactions
During the year to 30 June 2023, Ic8al Eces of £1,430 (2022.. £984) Ivere paid to Clcaver Fulton Rankt
501icitors. Clexver Fulton Rankin Trustees Limited is tile sole Co￿O￿te trustee of tlie tLUSt.
Page 16