After the senior side won promotion from the spot in 2006, and the legends won the Yorkshire Masters in the same way earlier this month, the youngsters saw off a good Pools side after a 1-1 draw.
The Reds had hit 15 goals in the group, including a 7-1 win over AIK Solna where Steven Bennett hit four, but they found the going harder in the final on an artificial pitch.
They fell behind before Connor Branson levelled the scores. Danny Fearnehough, Branson and Bennett all netted from the spot but it was keeper Tom Rusling who really stood out by making three cracking stops in the shootout.
To add to the success Bennett picked up the top scorer award whilst Alastair Taylor was named the tournaments best player.