Registered number 02841537 SECOND WAVE: CENTRE FOR YOUTH ARTS Report and Accounts 31 March 2024 secondwe SECOND WAVE: CENTRE FOR YOUTH ARTS Company Informatlon Directors Cheryl Brown {Chair} Natasha Matthews (Treasurer) Dana Pinto {Vice Chair) Denise Dickenson Mary-Anne Bamfo Dimples Vadher Board members appointed on 16 February 2024 Naomi McConnachie-Gregory Nickesha Grant Accountants Brookfield & Co 18 Concanon Road London SW2 STA Registered number 02841537 Secretary Ann Considine Registered Office Deptford Methodist Mission I Creek Road London SE8 3BT Charity registration no 1024836 SECOND WAVE: CENTRE FOR YOUTH ARTS DIRECTORS. REPORT for the year ended 31 March 2024 The Directors present their report and the audited financial statements of Second Wave: Centre for Youth Arts for the year ended 31 March 2024. OBJECTS, PRINCIPAL ACTIVITY AND ORGANISATION The company is constituted as a company limited by guarantee and is therefore governed by a memorandum and articles of association. The charity objects of Second Wave Youth Arts are to make the arts more accessible and relevant tothe well-being and safety of local communities, to celebrate cultural diversity and build positive community relations. Second Wave also aims to advance the education of the public and young people. by providing facilities for the education and training of young people that develops their leadership skills, enables youth participation in local decision-making, supports youth-led initiatives in their neighbourhoods, strengthens the well-being of young people, and helps them to make informed choices about their lives. YOUTH ARTS PRACTICE Second Wave has pioneered a youth-centred approach. inspired and informed by the first-hand experiences of young people. Second Wave developed young people's role as participants, collaborators, peer-leaders. workshop tutors, youn& commissioned artists, and practitioners. All of these principles have been underpinned by distinct phases of participation in a youth arts process. By means of this structure, the work of Second Wave has widened participation, increased employment and training opportunities, and strengthened the link between youth culture and social responsibility, with a view to building a more cohesive community. From our centre in Deptford, Second Wave has offered a consistently high quality, youth- centred creative programme in the evenings, weekends and during the holiday periods throughout the year. This has included a diverse range of arts and educational opportunities, with accessible entry points foryoung people who wished to participate, learn and engage in a range of performing arts and media. Our regular participants were aged between 11- 25 years and were primarily from the borough of Lewisham, as well as Greenwich and Southwark. 83% of our participants were from Global majority communities. Overthe period, second Wave has offered a free, regular, youth arts programme for 11- to 25-year-olds on Saturdays, after-school and during the holidays. We delivered a dedicated creative and media project in the half-term and summer period for young women aged between 11 to 16 years. These programmes enabled young people to develop their confidence and skills. express their fears, gain support and develop the self- esteem to empower themselves and progress to further education, training and employment. Our creative work included the productions of new drama, new media, and platform events showcasing young people's work and engaging audiences in community forums and platform events. Second Wave delivered a year-long young writers and actors programme, developing the skills and creative potential of young artists particularly those facing barriers to progression. LEGACY OF SECOND WAVE As part of our legacy project, we celebrated 40 years of Second Wave history offering training to young researchers and curator5, who participated in a series of activities including conducting interviews with members of Second Wave alumni. Their edited work is being prepared as part of an exhibition celebrating Second Wave's history. Interviews revealed Second Wave's impact on the development of the early career5 of young artists across four decades. Second Wave's programme celebrated and reflected on 40 years of youth-led activism through rehearsed play readings of published work by women writers who were children of the Windrush generation. Curation ha5 also included photographic exhibitions, platform performance5 With intergenerational community audiences. interviews with alumni and Second Wave playwrights, writing workshops wtth young people, recording of extracts from published plays, and inteNiews and podcasts reflecting on the history of Second Wave. COMMUNITY LEADERSHIP INITIATIVES Second Wave prioritised the training of young community leaders in programmes dedicated to supporting volunteering and creative leadership. Overthis period. ouryouth team extended their digital learning capacity, delivering new online resources and film workshops. Young volunteers have supported the delivery of centred-based workshops, as well as outreach projects in local schools, community and neighbourhood settings. In 2023124, youn8 people worked with local police officers building trust and sharing ideas in 'Critical Encounters, workshops which brought police, young people and community safety officers togetherto explore issues and improve relationships in the community. Young community activist5 who were involved in our Change maker5 young volunteers programme, were recruited from the borough of Lewisham, as well as Greenwich and Southwark. Young female volunteers took part in workshop leadership training and supported the interests of other local young women, assisting in the delivery of a programme of workshops, performance events, and representing young women's views in community forums, including meetings with local councillors and MPS, addressing the issues such as hate crime, misogyny and gender-related violence. In June 2023, Second Wave young leader, Jessica Davey was awarded the British Empire Medal for services to young people and the community. In Oct 2023, a team of young leaders from Second Wave were invited to Parliament to discuss issues of community safety with Vicky Foxcroft MP. In 2023124 Second Wave continued to deliver drama-based educational outreach projects to Lewisham schools. This included the Shadow Games Project which explored youth violence and grooming as part of the Home Office's Prevent strategy. This project has been identified a5 an example of good practice in the delivery of Prevent. This outreach work, together with related issues of Hate Crime have been shared with a wide range of community groups. The youth company continues to create newly devised youth-centred narratives relevant to their lives and experience5. presented at Schools and FE colleges in workshops and performances. WORKING ACROSS BOUNDARIES In 2023/24 Second Wave has consolidated existing partnerships and been able to build new ones, working across boundaries to reach marginalised young people and working closely with the local authority. As a model of good practice in the field of equalities and social justice, Second Wave has developed new initiatives, including work with Lewisham Hate Crime Working Group. This work has enabled us to welcome young and older new participants to our youth-led Platform events and Speakeas¢s and broaden the reach of the work. Positive collaboration has continued with academics and students from Goldsmiths College and the University of Greenwich. Second Wave continues to be active in finding new ways foryoung people to have contact with policy and decision-making. Young people are aware of the changes in their neighbourhoods, exploring the changes taking place in Deptford, presenting views which focus on the need for youth employment, cultural inclusion and a commitment to involving younE people in an ongoing process of local decision-making and keeping young people safe. FUTURE DEVELOPMENTS Second Wave has continued to receive financial support from the London Borough of Lewisham in furtherance of its objectives. The charity also acknowledges the financial support of the Tudor Trust and National Heritage Lottery Foundation. This SUPPOrt has enabled the project to consolidate and extend the programme available to its young beneficiaries. The Trustees acknowledge that Second Wave continues to face challenges as a result of financial austerity in common with other community and voluntarysertor organisations in the UK. The programme therefore reflects priorities based on the creative strengths and adaptability of Second Wave in maximising its potential as a distinctive, high-quality youth arts centre with a strong track record in community safety and creative leadership. The organisation is committed to sustaining best practice as a basis forfuture development. RESERVES POLICY In recognition of the impact of the cost-of-living increases and the need to invest in the charity's infrastructure and staffing, Second Wave Trustees are committed to maintaining reserves equivalent to 3 months of the charity's annual turnover. DIRECTORS, RESPONSIBILITIES Company law requires the Directors, who are alsothe charity's Trustee5, to prepare financial statements for each financial yearwhich give a true and fair view of the state of the company's affairs and of its profit or loss for that period. In preparing those financial statements, the Directors are required to: select Suitable accounting policies and then apply them consistentty; makejudgements and estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the companywill continue in business. DIRECTORS Those who served as Directors and Trustees during the year are shown on page I to the financial statements. No Director has any beneficial interest in the company. All Directors are members of the company and guarantee to contribute £1 in the event of a winding up. The number of guarantees at 31 March 2023 was seven. FIXED ASSETS Details of movements in fixed assets during the year are set out in note 8 to the financial statements. Independent Examiner Brookfield & Co were appointed as Independent Examiner and have expressed their willingness to continue in that capacity. This report was approved by the Trustees on Signed on behalf of the Trustees 6HeL-IL 12f 18 Concanon Road London SW2 STA Tel: 02087716710 e-mail: enqulrles@brool(fieldaccountants.com Fax: 020 87718722 Chartered Accountants J A Brookfield B Comm ACA ATII Consultant J E Plckard BA AIIT INDEPENDENT EXAMINER'S REPORT to the trustees SECOND WAVE: CENTRE FOR YOLrrH ARTS We report on the accounts of the companyforthe year ended 31 March 2024 which are set out on pages 7 to 12. RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER The trustees. who are also the directors of the company for the purpose of company law, are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under Companies Act and that an independent examination is needed. Having satisfied ourselves that the company is not subjett to audit under company law and is eligible for independent examination, it is our responsibility to: examine the accounts underthe CompaniesAct and to state whether particular matters have come to our attention BASIS OF INDEPENDENT EXAMINER'S REPORT Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting record5 kept by the Company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair vievf and the report is limited to those matters setout in the ststement below. INDEPENDENTEXAMINER'SSTATEMENT In connection with our examination, no matter has come to our attention which gives us reasonable cause to believe in any material respert the requirements: to keep accounting records in accordance with section 386 of the Companies Art 2006,. and to prepare accounts which accord with the accounting records. comply with the accounting requirements of settion 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice,. Accounting and reporting by Charities have not been met. Brookfield & Co Chartered Accountants 18 Concanon Road London SW2 STA SECOND WAVE." CENTRE FOR YOUTH ARTS Statement of Financial Activities for the year ended 31 March 2024 Restrfcted Unrestricted Funds Funds Total Funds Total Funds Notes 2024 2024 2024 2023 Incoming resources Incoming resources from generated funds.. Voluntary Income - Grants Olher Income 62,977 66,572 129,549 29,652 29,652 152,105 25,941 Investment income 689 282 Total Incoming Resources 62,977 96,913 159,890 178.328 Resources expended Costs of generaling funds Charitable activrties Governan 74,101 75,932 150,033 6,210 6,210 159,417 5,940 Total resources expended 74,101 82,142 156,243 165,357 Nel incoming resources expended tor the Year Transfers between funds Funds brought forward (11,124) 14.771 3,647 12,971 11,124 46,146 57,270 55,467 Total Funds carried forvrdrd SECOND WAVE: CENTRE FOR YOUTH ARTS Balance Sheet as at 31 March 2024 Notes 2024 2023 Tangible fixed assets Current assets Stocks Debtors Cash at bank and in hand 1,615 1,320 20 49,500 44,064 93,584 20 18,493 68,028 86,541 Creditors: amounts falling due within one year 10 34,282 30,591 Net current assets 59,302 55,950 Total assets less current liabilities 80,917 57,270 Funds of the Charity Restricted Funds General Funds 60,917 46,146 Total Funds 12 60,917 46,146 The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. Members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 20C6 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. The notes on pages 9 to 12 fomi part of these accounts Approved by the board on Iqloil Ad,b PN CHÉ I4L 6Lts YJ SECOND WAVE: CENTRE FOR YOUTH ARTS Notès to the Accounts for the year ended 31 Mar¢h 2024 1. A¢¢ountlng Poli¢ios Tha following a¢￿tInting policies have been used corsistentty in dealing with items which are considered material in relation lo the financial statements. a} Basis of Preparation The financial statements ha￿ been prepared under the historical ￿>st conventim. as modified by valuatx)n of investments al market value, in accoldan￿ with the Statement of Recommended Practi￿.AcCOUntlng and Reporting by Charities" ISORP 2005) and Ihe Companies Act 2006 and in accordance with th& Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 effective 1 January 2015. The company constitutes a public benefit wlty 8s defined by FRS 102. The trustees have takeft advantage ofthe exemption in Financial Reporting Standard No 1 Irevisedl trom including a cash flow stalernent in the finanryal stalements on tha gfound5 that lh8 charity 15 small. The financlal slalemerrts are prepared, on a going conctrm basis, undei the historical cost Convention. The charity is entirely dependent on continuing grant aid and as a consequence the going ¢oncem basis is also dependent on continuing grant atd.. The partiujlar accounb.ng policies adopleil are set out below. bl Reslricted and Unrestricted Funds The accounts dislinguish belween restricted and unrestricted fijnds. Restricted funds are recetved from donors and are subject to r8strictions on th8 purposes for which they fflay bè used. Unreslrt¢ted funds are those where there are no extemally imposed reslri¢tions. They indud8 those freety available to the charity for expenditure or appropriatson to reserve5 fof Inlemally desvJnated purposes. Designated funds arg unrestricted funds earrnarked by the Managernenl Committee for parbcular purposes. cl Incoming resources All incoming resource5 are included in the statement of finanaal actiwties when the charity is entitl￿ to the income and the amount can be quantified wilh reasonable accur8cy. The following specific poli(2es are applied to specjfic ¢alegorEs of incom8'. VolL¢ntary income is re￿iVed by way of grants, donations and gtfts and is induded in fvll in the Statement of Finanoal Activities when fecewable. Granls, where enlillement is not Conditional on the delivery of a specthc performance by the charity, are recognised when the ¢harTrty becomes unconditionalty enlitted to the grant. Investment income is induded when receivabk. - Incomi￿ resources from grants, where related lo perfomiance and spectfjc delNeTrbles, are accouttted for as the charty eams thè rvJht to consideration by Ils performance. dl Resourcos expended Expenditure is recognised on an 8ccnJal basi8 as a liabilty is incurred. Expenditur8 includes any VAT which cannot be fully recovered. and is reportwj as part of th& expenditure to which it relates. Charitable expenditure comprises Ihose costs incurred by thg charity in the delivery of tts activities and seThI￿s for its beneficiaries. It include5 both costs that can be allocale(I ￿1￿ctlY to such activities and those costs of an indirect nature to support IM8m. Govemance costs include those costs associated with meeting the Gonslf(utional and statutory fequirements of the charity anLI include the audit fees and costs linked to the strategic manage1n￿l of the Ghartty. All ￿sts are allocated between the expendrture categoTies of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated diredy, olheis ara apportioned on an appfopriale basis eg. ffioor a￿as, per capits or estimated usage el Tangible Fixed Assots FrAed assets costing Eess Ihan £750 are written off in the year of acquisilion and items costirvJ in excess are capitalised. Tangib￿ fixed assèts a￿ stated al cost less depredation. DepreGiation is calculated lo write off the cost of fixed assets less their estirnated residual value over Iheir expected useful lrfe on a 51raight line basi5 al rates of 20 to 33% per annum. SECOND WAVE.. CENTRE FOR YOUTH ARTS Notes to the Accounts for the year ended 31 March 2024 fj Debtors Trade and other debtors are recognised at the seuetnent amount due after afiy trade disounl Offe￿d. Prepayfflenls are valueil al If* amount prepaid after tsking account of any trad8 discounts due. gl Cash al bank and in hand Cash at bank and in hand includes cash and short term highty IKiuid investrnenls with 8 short m8turty ofthree months or less from the dale of acquisgtion or opening of the deposit or similar account.. h) Creditors and prowslons Creditors and provisions are recognised where the chafity has a present oblvJalion resulting from a past event that will probably result in the transfer of funds lo a third party and the amount due lo settle the obligation be measured or estimated reliabty. Creditors and provisions ale normally recognised at theii Settlement amount after allowing foi any Ir8de discounts due. il Pensions Contributions lo employee pension schemes are in tine with govemmenl legislation. Legal status of the Trust The trust is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up Is Ilmlt8d to £1. 2. TaXa￿On Subje¢t to agreement wlth the Insi￿￿Or ofTaxes, the company i8 exempt from the payment of any Taxes lo the extent il 1$ a registered d)arity and not liable for Income Tax or corporats.on Tax on income dertved from its charitable activities. The company does not have a liabilty lo register for VAT. 3 Surplu$ for th• porlod The sufplus for the perlo(I Is ststed after tharging.. 2024 2023 Depr￿latIon Independent Examiners fees { Inc VAT)- Brookfeld & Co 440 440 4 Staff costs Staff cosls were as follows.. 2024 2023 Salary and pension costs Social Security costs 59.707 2,833 62.540 58.572 4,108 62 680 2024 2023 NUm￿r$ of fijll time employees or full time equivalents No ernployee had emoluments in eX￿sS of £60.00012023'.NiD Pension costs are allocated to act￿￿eS in proportion to the related staffing costs incurred. SECOND WAVE: CENTRE FOR YOUTH ARTS Notes to the Accounts for the year ended 31 March 2024 5 Voluntary Income- Grdnts 2024 Total 2023 Total Restritted Unrestricted National Lottery Heritage ftEnd LB of Lewisham - Arts and Culture LB ol Lewisham- NCIL Home offi￿ IPrevenl,Lewishaml Tudor Trust Hyde charitab￿ Trust Greenwich University Misc Others JRS Grants 23,100 23.100 37.213 29,359 33,000 37,213 29,359 35.000 25,000 26,880 33,000 2.677 4,200 33.000 2,677 4,200 929 18,222 139,031 62.977 66.572 129,549 6 Other Ineom• Donations. memberships, Workshops and box office 2g.652 29.652 25,941 29,652 25,941 7 Analysls of prolocL govornanco and support co¥ts Basis of Project aPpo￿.0nMenI expense$ General supwrt Govemance Function 2024 Total ¢horit•ble •¢tfvitl68 Pro rala staff hrs by project Per project Per project staff Costs Project Costs Support costs allocated to proiecEs 50.310 54,301 37,892 7.530 4.700 62,540 54,301 37,892 142,503 7,530 4.700 154,733 Gov•man¢o Costs Independent ExamineTS remuneration Governaneg 1,510 1,510 1,510 1,510 142,503 7.530 6.210 156,243 8 Tangibl• fix¢d assots Fuiniture and Equipment Total Cost Balance at 1 April 2023 Additions in the year Balan￿ at 31 March 2024 49,(102 735 49,737 49,002 735 D&prKlatlon Balan￿ al 1 April 2023 Charge for the year Balance al 31 March 2024 47,682 440 48,122 47,682 440 48,122 Net Book Value At 31 March 2024 Al 31 MarGh 2023 1,615 1,615 SECOND WAVE: CENTRE FOR YOUTH ARTS Notes to the Accounts for the year ended 31 March 2024 9 Debtors 2024 2023 Gr8nts and other Income ￿ceIv8b1e Other debtors 49.500 16,500 1,993 49.500 10 Creditors: amounts falllng duo wlthln one year 2024 2023 Deferied Income Other accruals 20,610 13,672 34.282 30,591 30.591 11 Analys18 of net as$•ts bolwe&n fvnds Restrided UnrestrÉ¢ted Funds Funds Total Fynds Flxed assets Current Assets Current Liabilities 1,615 1,615 93,584 93,584 134,2821 134,282) 60,917 60,917 12 AnalysFs of net assets between funds At Incoming 114123 Resources Outgoing Resources Al 3113124, Transfers Restrlcted Funds: National Lottery HeTitage fund Tudor Trust Hyde Charitable Trust Greenwich University Comrnunity LinksBromley Total Restrfcted Funds 3863 5628 23,100 33,(K)O 2,677 4,200 26,963 38,628 2,677 4,200 1,633 1633 Unrestricted Funds: Designated contingency fund Other unrestricted funds Total Unrestrlcted Funds 44.500 44.500 16.417 ,913 96,913 82,142 82,142 46,146 Total Funds 57,270 159,890 156,243 $trt¢tgd Fund$'. Restricted Futmls are for provision of programmes specffied below National Lottery Heritage fund Youth Arts Legacy Project Tudor Trust Youth & Community Skills P￿gramme. Hydo Charltable Trust Young women's project a¢Jdiessing issue of misogyny Greènwieh Univarslty Institute for Lifecouise Development {ILD} community safety research project. Communlty LinksBromley Creative Recovery Proje¢t for Young Women Ignatgd ¢ontlngonty fund To cover periods wlwi payments from fvnders have been Ilelayed and lo protect against possibb insolvency This is broadty 3 months of Tumover in line with the Reserves Policy 13 Related party transactions and trustees. remunoration Trustees received no emoluments {2023 £nil). No expenses were paid in the period12023 £nill.