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REGISTERED COMPANY NUMBER: 00104372 (England and Wales)
REGISTERED CHARITY NUMBER: 309562














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

TURNERS COURT YOUTH TRUST
(A COMPANY LIMITED BY GUARANTEE)

TURNERS COURT YOUTH TRUST






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Report of the Trustees 1 to 2

Statement of Financial Activities 3

Balance Sheet 4

Notes to the Financial Statements 5 to 8

TURNERS COURT YOUTH TRUST (REGISTERED NUMBER: 00104372)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES
Objectives
To give grants to charities and small community groups in the Thames Valley region, which aim to help children, young people and families in particular, but not exclusively, those children and young people with emotional or behavioural problems so that they may grow to full maturity as individuals and members of society.

Aims
To enable children and young people to reach their full potential and parents and carers to fulfil their role and responsibilities.

ACHIEVEMENT AND PERFORMANCE
During the year the Trust received investment income totalling £14,774 ( 2023 : £16,754). The Trust distributed grants totalling £16,000 to:-

- Oxfordshire Youth
- Didcot Train
- Clear Sky Children
- Wycombe Youth
- Home Start Banbury
- Home Start Reading
- Andrew Simpson Foundation
- At The Bus
- 5 On It
- Jacari


The Trustees intend to meet at least three times a year and to distribute in grants annual investment income net of costs.

FINANCIAL REVIEW
Principal funding sources
The principal source of income is the portfolio of investments managed by the Charity's investment advisers. The Trustees recognise that the value of investments vary over time due to market conditions and note that the market value of the investments has increased since 2023. The Trustees consider the portfolio is suitably spread for the charity's needs.

Investment policy and objectives
Funds surplus to immediate requirements are invested to provide income and some protection against inflation. To obtain a spread of risk and retain accessibility, these funds are invested on behalf of the Trust by Brewin Dolphin and reviewed at trustees meetings.

Reserves policy
The reserves of the Trust consist of the remains of a capital fund set up at 31 March 1998 from the proceeds of the sale of a farm and buildings previously owned by the Trust. As a Grant Making Trust the Trustees consider it necessary to maintain the reserves in order to generate sufficient income to support worthwhile grants.

FUTURE PLANS
The Trust will continue as a Grant Making Trust awarding grants out of capital and income to causes set out under Objectives above.


TURNERS COURT YOUTH TRUST (REGISTERED NUMBER: 00104372)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Turners Court Youth Trust is a company limited by guarantee which is governed by its Memorandum and Articles of Association adopted by special resolution on 20 July 1995. It is registered as a Charity with the Charity Commission.

Recruitment and appointment of new trustees
New Trustees are introduced to the Trust by recommendation to the Board of Trustees. They are asked to complete an application form setting out their experiences and qualifications and two members of the current Board of Trustees would interview them prior to their appointment.

Organisational structure
The Board of Trustees which consists of at least five members, administers the Charity.

All decisions must have the approval of the Board. However, for decisions that need to be made at short notice, the Chairman of the Trust is consulted and any decisions then brought to the Board for ratification.

Induction and training of new trustees
New Trustees are given an introduction to the history of the Charity and its objectives by existing Trustees.

Risk management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
00104372 (England and Wales)

Registered Charity number
309562

Registered office
30 High Street
Wendover
Aylesbury
Buckinghamshire
HP22 6EA

Trustees
Mr F King
Mr J Basden
Mr A D Parks ACA
Mr T Streatfeild
Mrs S Pickering
Mrs V C Stretch
Mr M Fenner

Company Secretary

Approved by order of the board of trustees on 15 November 2024 and signed on its behalf by:





Mr J Basden - Trustee

TURNERS COURT YOUTH TRUST

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM

Investment income 2 14,774 - 14,774 16,754

EXPENDITURE ON
Raising funds 3 4,399 - 4,399 4,463

Charitable activities
Donations to charities 16,000 - 16,000 13,955
Governance costs 1,864 - 1,864 1,498
Support costs 8,730 - 8,730 -
Total 30,993 - 30,993 19,916

Net gains/(losses) on investments 32,202 - 32,202 (25,062 )

NET INCOME/(EXPENDITURE) 15,983 - 15,983 (28,224 )


RECONCILIATION OF FUNDS
Total funds brought forward 463,658 - 463,658 491,882

TOTAL FUNDS CARRIED FORWARD 479,641 - 479,641 463,658

TURNERS COURT YOUTH TRUST (REGISTERED NUMBER: 00104372)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Investments 7 481,584 - 481,584 464,173

CURRENT ASSETS
Cash at bank 7,592 - 7,592 290

CREDITORS
Amounts falling due within one year 8 (9,535 ) - (9,535 ) (805 )

NET CURRENT ASSETS (1,943 ) - (1,943 ) (515 )

TOTAL ASSETS LESS CURRENT
LIABILITIES

479,641

-

479,641

463,658

NET ASSETS 479,641 - 479,641 463,658
FUNDS 9
Unrestricted funds 479,641 463,658
TOTAL FUNDS 479,641 463,658

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 15 November 2024 and were signed on its behalf by:





Mr F King - Trustee

TURNERS COURT YOUTH TRUST

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. 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.

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.

Charitable activities
Expenditure on charitable activities represents direct functional costs of the activity.

Governance costs
Governance costs comprise the costs relating to the general running of the Charity.

Allocation and apportionment of costs
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. The Charity has only one activity, the making of donations. Other costs such as Governance Costs are therefore identified on the face of the SOFA.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

The Trust has no restricted funds.

Investments
Investments are held in listed investments under managed funds and are valued at the bid price as at the year end.


TURNERS COURT YOUTH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. INVESTMENT INCOME
31.3.24 31.3.23
£    £   
Deposit account interest 59 9
Investment Income 14,715 16,745
14,774 16,754

3. RAISING FUNDS

Investment management costs
31.3.24 31.3.23
£    £   
Portfolio management 4,399 4,463

4. SUPPORT COSTS
Governance
Management costs Totals
£    £    £   
Governance costs - 1,864 1,864
Support costs 8,730 - 8,730
8,730 1,864 10,594

5. TRUSTEES' REMUNERATION AND BENEFITS

No trustees were employed by the charity and so consequently there were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM

Investment income 16,754 - 16,754

EXPENDITURE ON
Raising funds 4,463 - 4,463

Charitable activities
Donations to charities 13,955 - 13,955
Governance costs 1,498 - 1,498
Total 19,916 - 19,916

Net gains/(losses) on investments (25,062 ) - (25,062 )


TURNERS COURT YOUTH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund fund funds
£    £    £   
NET INCOME/(EXPENDITURE) (28,224 ) - (28,224 )


RECONCILIATION OF FUNDS
Total funds brought forward 491,882 - 491,882

TOTAL FUNDS CARRIED FORWARD 463,658 - 463,658

7. FIXED ASSET INVESTMENTS

At the balance sheet date, the book cost of the investments was £375,800 (2023 : £371,086).
There were no investment assets held outside the UK.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Accrued expenses 9,535 805

9. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
Unrestricted Funds 463,658 15,983 479,641

TOTAL FUNDS 463,658 15,983 479,641

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
Unrestricted Funds 14,774 (30,993 ) 32,202 15,983

TOTAL FUNDS 14,774 (30,993 ) 32,202 15,983


TURNERS COURT YOUTH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
Unrestricted Funds 491,882 (28,224 ) 463,658

TOTAL FUNDS 491,882 (28,224 ) 463,658

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
Unrestricted Funds 16,754 (19,916 ) (25,062 ) (28,224 )

TOTAL FUNDS 16,754 (19,916 ) (25,062 ) (28,224 )

10. RELATED PARTY DISCLOSURES

During the year, a company owned by Mr A D Parks, a Trustee, charged the charity £805 (2023: £792) for professional services supplied. A total of £998 (2023: £612) was paid to Mrs S Pickering, a Trustee, for administrative services.