National Youth Agency THE NATIONAL YOUTH AGENCY (COMPANY LIMITED BY GUARANTEE) Report of the Trustees and audited financial statements for the year 31 March 2023 11111 1111 •ACIZVLDT• 2311212023 ¢c￿pANIEs HOUSE #129 a.or REPORT AND FINANCIAL STATEMENTS: NATIONAL YOUTh AGENCY 31 kWiCH 2023 Report and Financial Ststements 31 March 2023 Cotttents Report of the Trnstees IndeperKlent A￿lit0￿. Report to the Membefs Ac￿untIng Policies Consolidated Statement of Financial Athil 13 17. 20 Consolidated and Company Balan￿ STr￿8t Consolidated Cash FI￿ Ststement 21 Company Cash Flow Statement Notes to the Consotidated Accounts 23 24 Trtsslees and manag￿nent Principal Place3 of Business Advise 31 &p?Jl & FiRairt4HI S-.aiEmeW' 31 Maren YJ23 REPORT AND FINANCI￿ STATEMEiifs: NATIONAL YCXJTH AGENfY 31 PAARCH 2023 1, Report of theTrustses 22123 Introduttlon The T￿￿teeS present their annual report (indudiThJ the diiectorn. report as required by Company law) and audited ffinancial ststemtsnts for the year ended 31 March 2023. Rèlefen¢• and Adminlgtratlv• Inforniation The National Youth Agency (The NYA) Is a company limited by guarantee with a company registration of 2912597 and is registeied with the Chatity Commission for England and Wales under numbef 1035804. NYA TradirvJ Limited is a 100% Ixved tradiNJ subsidiary of The National Youth Agency arKI Is a rThipany reglstered in England and Wales under number 07570045. Details of tho Twstees for both organisalions are provided on pages 31 and 32. Principal places of bu&ness and prof85sional advisers ol tha chanty are shown on page 33. StruC￿re, Governance and Managem•nt National Youth Agency operates wiihin its V£moraTrJuffl Arttc*s of Association which are registered wilh Companies House and the Charity Commission. Trustees ¥*tho hekl office during the year are detsiled on page 31. The Chair is selected by the other Tfustees either from the exislin9 Tfuslee Board or Ihrough extemal recruitment. The Trustee 8oard is responsible foi the strategic dir6dK)n of the organisation and ensurin9 it is financially and operationalty sourKI In all its policies and practices. The aoard holds It Chlef Executive arxl team to ac￿Unt in this respect. The Current Chair 8art)ara Bradl&y stepped down in November 2022 after serving on the NYA Trustee Board for seven years and ￿ extend our heartfert thanks for her steerage and support through this ts'ffle. As an terim step. one of our vitschaits and our Chair of Finance committee, Toby Ducker, stepped up lo act as Chair of Trustees. supported by Carol Stone as vie&Chair. S￿l[y. whllst ctcurring post year end. in May 2023. Toby died unexpectedly which has been a huge loss and heavity felt by all at pffA. We are grateful to Carol Sone for stepping UP to support us and she remains interfm Chair supported by Math Norrfs as vice-chalr. As such Carol Stone is the swnatory for Ihe a￿1rted accourbts 2022r23. The Board ol Trustees has In place a Nominations and Procedures Committe8 0(nown as the Peoplfr Committee). Part of the remil of this Commltte8 is to make recomme￿IatIonS to Ihe Board on the appointment reappoini)nenl of Tfustees. having regard at all times to the provlslons of the Memorandum arHI Articles of Assocladon. Consideration is gNen to the composition of the Board in terms of the collecttye skills arKI experience required to support the NYA'S operational str81ogy arml to ensu￿ its charitable aims are delivered. Four new trtsstees We￿ appointed at the February 2022 Board of Trustees honce no rbew recruitment has occurred in the financial year 22123. IYA Pépoi: 8 Fmenubl Swoiiie.IL 31 fvIar￿ 2Qry3 REPORT AND FINANCIAL STATEMENTS.. NATIONAL YOUTH AGENCY 31 MARCH 21yrJ The Board regularly undertakes reviews of its perlornan￿ through a process of self- assessment again51 key objeGlives. The Board of Trustees is supported by an Audit Committee which is responsib￿ for ensuring the safeguarding of the charity's assets. A Fifiance & Govemance Commlttee advises the Board on financial matter3 and the ffleMbe￿ of these committees a￿ shown on pages 31 and 32. In addition. Sub￿rOupS are established to support the Executive team in our Growth (business development and lundraising>.. tyjr Impact and to support on matters relating ￿ our people (HR). Duftng 2022-23 Ihe authority to conducl the daY-tc￿aY aclivities of the organisation wa5 delegated by the Board to Mr Leigh Middleton who is the Charity's CEO. The Chief Executive is responsible for the implementation ol the strategy and policies agreed by the Boafd. remuneration of key management personnol is set by the Board, with the policy objective of ensuring that they are provKled %*ith appropriale incentives to encourage enhanced perfomiance and are, in a faif and responsible manner, rewarded for their individual contn'butions to the Charity's success. The appropriateness and ￿levanCe of the remuneration policy is reviewed annualfy includiThJ referenc8 to comparisons with other arities to ensure Ihat the Charty remains sensrtwe lo Ihe broader issues ol pay and employment conditions elsewhere. In Ihe previous accounling year, in February 2022 trustees provided a 7% pay lift for all staff. This vrds in fecognition of the cost-of4r4ing increases Ihat all faced. arKI that NYA held reseThes and pipeline to provide confidence to award this level. Glven the ongoing pressures in year and NYAS continued financHI health, the Board awarded all staff an additional increase of 3% in Othbef 2022. We ain to re(xuit, subject lo eXpenen1￿, 8t the lower to medium point wlthin a band, providing scope to be rewarded for gffjwth in role with additional ￿spOnSIbl11t[es. Delivery of the Chaiity's tharitable ¥i5ion and purpose is primarily dependent on our key management personnel and staff costs repfesents a slgnificant proportion of our charilable experKlibJre. Through the 2022-23 period, NYA continued to exparKI the staff base in line with the increased activity and lundiry received. We %*ent from a head count of 31 in April to 60 by the end of the year arKI were delighted to have 17 young people within Ihal numbei. working as Young Assessots lor Ihe yO￿h Inveslment Fund activity. The Trustees regularty consFder the major strategic, business. and operational risks fadng the organisation. and these are reviewed by the Finan￿ Commlttee quarterty and managed by the Executive tearn. Trustees pay particular altention to financial risk and the impacl ol fundlng changes. in particular.. The impact of a reductiDn or diseontinuakni of Income frorn one of its major funder5; NYA has explored ways io activety diversrfy its inccffie base in the last few years. This work ha8 bagn led by the Oirector of Grnshlps with 5gnior staff in these organ&itions and active monitors perforrnance within Ihem. Reputalional risks range from Specif￿ inc4dents within programmes (e.g. safeguardin91 to much wider reputation management challenges. Pollcles are in place lor safeguarding and media management artd large programmes %Ye run have a crisis plan in pla￿. Cyber iisks with the increasing use of d￿lIa1 and expansion of data colledon. As NYA has expanded its digital footprint through evolution ol delivery and support plalfomis, it secU￿d a Digital Development Manager in Decembei 22 and seCU￿d the Cybei Essentials Plus krtem¥rk during the same rnonth. AeiNe financial rnan8g8ment to ensure re8eNo levels are within ￿serye policy guidelines and suff￿lent to meet the organisation's commilments. 1.4 Oblectlv88 and Aclivities The objects of the chanty orwj limited company. as set out in ts goveming document. are: To maintain en Agancy forthe benefft of lh8 communily in gen8rn1 and young pfjo￿e in particular as a Cen￿ for 8SSiSt8nce in the lrnining ofyoung peopl& so as lo develop theirphysic81. mental and swrilu81 capacities. We a￿ very serious about youth wo￿, enabling y¢)ury people to believe in themselves and lo prepare for lrfe. Educatofs. policy makers and empk)yers 815 have ¢Tucial roles to play here. Youlh woth focuses on working holistically with young peop￿. It's about building resilien(¥ and character and gi¥ing young people the lrfe skills (often totally misleadingly described as "son. tlw need to live. leam. work achieve and interact successfully with other people {see ¢)ur definllbrJn3 of youlh The National Youth Agenty is the nab.onal b￿ty arKI Professional Statutory Regulatory Body (PSRB) in EfwJknd for this imp)rtant, under-recognised discipline. We have taken the lead in ch8rnpioning rt for nearly sixty years. Bul as the choi￿$ and challenges facing young people get more darnanding and the public fuThding to SUPPOrt them has decreased In the previous decade, our mission gets more uroent every day. Our miysion is to transfonTr the lives of young people through the pcw4er of youth worfr. We do this through". Influenclng practico through policy and rego•rGh - showcasing great praciice: incubating neyi approaches, ￿lebrating its many thousands of pracbiioners, and winning more understandiNJ of the value and depth of the diS¢ipline among policy makers, educators. and ernployers. D•v•loplng • Skilled & effectlvo youth sector WOfkforce- trainlng youth worke￿. setting occupational standatds. offering ac¢reditalion for professional development, and constsntty researching, innovating. and improviNJ the methodologies and PfactKe of youth woth in 811 its forrns. RewAt & Financial 31 t.trrch 2023 REF>ORT AND FIIi4ACIAL STATEMENTS: NATIONAL YOUTrI AGENfY 31 MARCH 2023 Creating opportunftles for young people- makln9 St happen through our networks of front- line youth woth pmvtd8rs, our deep experience of managing complex projects and IhroL4h innovative be-ups and fundiThJ arrangements with imaginatlve commercial and public sector partne￿. Durlng this reporting year. NYA mid-pornt in the delivery of our fNe-ye8r strategy shaped around the above. Ho￿*¥er. we ￿re alEad in terms of the achievement of strateg1¢ obledive¥ (80%). The in-year woth is detailed in sedion 1.6. and rellects thal os the paThJemic subsided, NYA rellected on our role, alongslde our partners and stakeholders, in supporting groat youlh work to happen across England in a much- allgnged landscape. 1.5 Publlc Ben•fit IffA woths in accord8nce with the Charity Commission's guidan￿ which requi￿8 clarfly In Ihe public b8￿fil aiisirvj from the organisats'on's work arnj dearty Identif￿d public beneficiaries. NYA'S worf¢ in leading and de￿loPIr￿￿ the seclor drives the qualty and refevancé of youth work aeross England: Training those wot*ing v￿th young people to have the knoW￿ge, skills, and nfidence to deliver high qual"ty, impadful services, bulld on the r*eds of young people. Increasing safe practice by buikling training speaficalty for saf•Juarding and risk manageffent In youth work environments. NYA'S work also meets this public benefft requirement in all ts direcl delivery programmes with young people.. Supporting young people's s￿.1￿ development as well as praclical infomation to help with employment so they aro bettec able to enter the job market. Educaling youThJ people in financial manayement techniques in order that Ihey can ore easily transiti.on into adumhood and lrfe as an employee. SupportiTrJ S￿la1 integration by bullding young people's confidence. sem-belief. and expeiience in mixing with Othe￿ from differenl backgrounds. Working with marginalised and disadvantsged yourvJ people to understand the challenges Ihey face in getting invofved in social ath'on projects. Giving young pe¢Jple a rneaningful vo￿£ in the world arKI ensuring they are involved in the development ol seTrices Intended for Ihem. IVII RD fl & FifiaAcial Sl312rner.1' 31 IAaich 2V13 REPORT ANO FINANCIAL STATEMENTS: NATIONAL YOUTH AGENCY 31 MARCH 2023 1.6 AGhievements and Performance Context The Covid-19 pandemic continued into this ￿pOrtIng year aNI NYA led on the provision of guidan￿ to enable the youth sector to naV￿ale how to safety enable serlices to young people during this b'me. This ceased around August However, the impad of the pandemic continued with the youth sector faung challengos in fvnding and in workforce. both recrultment and retention. These remain key factors within our stralegy to support the rebuild of youth work across Énglan(l. NYA posilioned grass Foots organisatsons al the heart of our decision making in year. A 6-monlh research rep)rt explore(I the realities ancl needs of grass foots organisations and resulted in the 'Joining the Dots, reporL This has infomied our focus in year and how we have shaped the forthc¥Jming stralegy 2¢29. During financial year 2022r£3 NYA built on the foundatlons from the previous weporting perlod and secured a numbef Ot important contracts lo support our delivery and impacL In Juty 22, NYA was sub-contracted as a key partner in the Sorial Investment Business successful bKI to deliver the DCMS Youth Investrnent Fund. This programme Is the largesl single investrnent in youth work infrastructure (£368m) to deliver a programme that wlll build or reIurb￿h 300 youlh facilities in England. NYA are positioned r£ntralty to steer and support the futu￿ expectaiions of quality. youth engagement and praclice within the funded programmes. NYA is the lace of the programme to the youth sector and 22123 is year one of this three-year progiamme. The start 012022, opened a new opportunty to work with Natwest aTKI Marcus Rashford to design and deliver a programme called Thrive, working with 20 communty youth groups across England. Following a successful pilot phase April-september 2022, NYA worked with Natwest to expand our partnership to encompass volunteering and flow three million pounds of Natwest apprenticeship levy io support the youth secior over Ihe next three yea￿. Contracting was agreed by the end of March for Initialion at scale from April 23. All Ihfee strands support our slrateglc aims. and the Levy in particular 59 a key step in openir diffe￿￿1 funding pathways to build the youth Wofk workforce In the fulure. Voltsnteering brin9S Opportun￿"eS lo¢ youth Pfoieds to access professional ski115 {matheting, finan￿, legal and HR) and youth WO￿ skills where staff undertake tralning DCMS also moved to a th￿-year lunding grant ¥*tth NYA in recognition of the need to drive forward capacity building wilhin the youth sector and drive up the quality of delivery through support, resour￿, and training. This inve5trnent is central to our work as the professional body for youth work in En9land and provides the conf#Jen￿ for NYA to push forNard v•ith ambi￿0v5 plans. The key themes wthin this aside from our 8ssenb.al Work for qualifications review, evolution. and validation, are Cufricultsm for youth woth, the safeguarding and risk hub. a nats'onal census and a Youih Worker Reglster for professionally qualrfied workers. CollectFvely these three strarKls secured NYA fin8ndal stabilty for the next three years, NYA invested deslgnated reser¥es to support growth of d¥ital technologies and tools lo strengthen youth sector. A key part of this was the build for a new integrated wel platfomi called Youth WO￿ One (YW)).11 was designed to be a praclitionerfs siNJk pla fieport $ Financial s￿￿￿enr 31 ltyla(d: %rv. REPORT AND FITrI*thICIAL STATEMENTS: NATIONAL YOUTh AGENCY 31 MARCH 2023 to go to access support. tralning, resources, professional dial(MJue, events and house the Census and Youth Work Register. This 15 branded neulralty to create a sha￿d sector spa populated by our partners and collaborators. This will be launched within the financial year 23124. Our trainlng Academy has also continued to Offer DCMS funded bursarles to over $70 learners, groups. The NYA wothed wtth regional partners to fkm d¢y4¥n and Invesl In local training providers. The NYA'S goal is lo strengthen local infr8siructure through national co- ordination and investment ar¥J the bu￿ary is a key part of Ihe strategy. The Academy ha$ grown its free CPD offer and transllloned to a new Leamir#J Management System. It also h8s a focus on c¥)mmercial contracts to support youlh related organisations to grow their stafl level of skllls and knchvleilge around youih WO￿ methodol¢gies and practica, In lino wilh Ihe flnanci81 grthyth. the NYA urKlertook a review of capacty and planned for expansion to support our delivery aThl infrastrncture. This decision was made to both fellect Ihe increased need ol stafl for contracted work and also as an investment to grow. This Included a Poticy and CommunicatK)ns Direclorat8 Withln the NYA arKI newly fotrned post8 focused on knowledge and data. The operational struthre was stre￿lhened to rellect the scale of difect delivery yet also to the core support for 8 larger organisation. This resulted in the appointment of an HR Managei and a Digital Development Manager. Koyachiev•ments andp•rfomMn¢e Highligh15 of year inclLKJed'. Dolivering a 8kill•d & offoclivo youth Soctor workforce: Delivering a series of developrnents to urKlerpin the development ol the youth workf0￿e (DCMS). Crealed 22 modules of leaming to infomi the pilot for a level 415 DCMS bursary lunded pathway. Renewed va￿datiOn guKlance to support the introducb'on of level 6 apprenticeships as a pathway to professional qualification, o Fo￿sed support work wilh higher education Pfovidets and empk)y8ts ahead of the Introduction of level 6 apprenticeship to engage both in t provision and support of the leaming path*￿y. Evolutron of the National Youth Work Curriculum including as an online tool, working with the sector to infomi arbd build resou(￿S lo enrich the tramev￿Ik. resuliing in an add￿"Onal 20 resources to address immediate issues. such as cost of living crisis for your¥J people. o Currlculum briefing papers wiitten lo support delivery - social care. health. youth justice, edu(3tion arKI c¢)mmissionef5 and funders. Development of Practice Slandards to repla￿ Covi&19 gtsKlance to support conty.nued best practice in youth wo(k plannlNJ and delivery. Development of an online Safeguarding and Risk Hub for Youth Wort(. Online webinars 8nd diseussion forums to support youth w0￿er8 share, le8m and eo-SUPPOrt across a range of key Issues and practice speoalisms, Secured and initiated delivery. in partne￿hIP with Regional Youth Work Units, of an addrtional 570 Pla￿ for youth VK+rk bufsaries at level 2 and level 3. Re￿1 l Flnpn*lSiatemenl" ol M8rch 2023 REPORT AND FINMIC1￿ STATEMEfrifs: NATIONAL YOUTH AGENCY 31 MARCH 2023 Consullation and draftjng of a w0￿for￿ strategy to guide sector WKle a¢livity to secure and grow the profession of youih work ovet the c¥)mirvJ years. Through our Educatlon and Trainlng Slandards Commttt•g NYA led the sectorfs thinking and development In workforce mattets. Through NYA the committee undertook validations of higher education youth and cofflmunliy work courses during 2022-23, completed the annual monitoring report to both qualty assuce learning progfammes and assess current levels of learneT3 Wthin level 6 and 7 programmes and the opporbjnilies and challenges for training provtders. The continued build of level 3 aNJ level 6 apprenticeships a5 a much-needed gateway to exparMI routes into youth work. Continued grothth of the Safeguardlng Hub with resources and ad¥1￿ t¢ support best practice in risk management and safeguarding. Devel¢)ped the blufrprlnt for an NYA Natlonal Register for Youth Workers. providing feco3nrtton and en(brsernent of professional status {1gvel 617) for youlh wofkers in England. Influencing practice through pollcy and re￿arch. Facilitating coftftedivity and voice for lead slakeholders through the National Advisory Board, confECtin9 lead nalional and regional organlsations with pollcm maker5 afKI luThJers to brir¥J a collective discussion around youth serVI￿S and young peopla. Supported, infom)ed and adVo￿ted for the revision of Statutory Duty for Y¢Juth Work (507b) due for issue in FY 23r24. Launched the Nal"tonal Census and Workforce stralegy. Hosted Youth Work Week 2022. themed as Festival of Youth Work, celebraling youth wothers and th8 young people they support. Funded the Join the Dots report to explore Ihe realilies and needs of grnss roots youth work across communities vrith fecofflmendations to infonn our futu￿ strategy. Held 9 events across England engaging 7(10 individuals. Working with our Regional YoLrth Wofk Unit partners to facilitsle dtscussion and debate on fronlline 5eNices to add insights to the Join the Dots repo Secured NYA as Host fof the lorthcoming Commonwealih Conference for youth work to be do1iv•red In 23r24.Thi6 18 a great honour for NYA and we ex￿ct to explore youih work practi￿ *ith 250 del&3ates from 56 o)untrie5. Cweatlng opportunllles for young pooplo: NYA cmtlnued to develop the amplifi pr&Jramme for youTrJ people wlth a focus on youlh work as a tool lo support young people toward next step$. The Thrive pilot programme with Natwesl benefitted around 81X) young people. Wothed in an advisory capaoty wilh StreetGames to support the new National Cittzenship Service grant pro9ramme thal aims to fiow £10m into c4)rnmunitie$ to provide yeaf40ufKI NCS experien￿ fof young people. jNiVA RepA &FinJioai StsieffleDt 31 11a￿{1 3Wi3 REPORT AND FINANCIAL STATEMENTS.. NATIONAL YOLTTrI AGENCY 31 MARCH 2023 Financial Review and plans for firtur• porlod• The position of the 9roup and the charity at the year4nd is set out on page 21. NYA'S total inL¥Th in 2022-23 was £3.787.000. The prinelpal Sour￿ of income were from the OCMS and Youth Investrnent Fund, via Social Inveslment Busirtess (SIB). Total expenditure of £3,886,000 on charitable 8Ctlvll*s resulted in a deficit position of-£99,000. The Board of Truslees has discussed Ihglgvel of appropiiate reserves heading into the financial year 23-24 and has agreed to designated reserves up to £200,CK)O to fund the amplffi programme, digitsl development across the Youth Work One platform and scope options for building best pcadice and approaches for dlgtsl youlh work delivery in the coming years. It continues to be a difficuft fvnding landscape for charities a￿1 generating new income support continues to be the agency's 9￿alest challefwje. At the end poinl of 22123 NYA was successful In securing the incofne required for the finandal year ahead, largely due to the thre8 main funders of DCMS. Natwest and SIB. These three-year term contradslgrants have been central in NYAS cap8Clty to respond lo the rfftds of the sector, locus ort their charit8ble objects and Ixeate opportunities for y¢)ung people. The focus is now on sustaining and buikling those relationships for loThJer term security alongside diverslfying income streams to safeguard NYA should any funder not continue. Res•rv Trtsstees agreed a revised tsrget of a minimum of £450.000 for 2022-3 for Un￿st11cted reserves. The purpose of this reser¥e is to provide w0￿1n9 ¢aPital lor the Charity arKI ensure that it vffjuld be able lo manage a shutd(hvn of the organisation in the event of any sthlden downtum in funding or calls on its resources. As at 31 March 2023 the group had total ￿serVeS of £1.784,000 (2022 £1,883,000). Of this tolal, £1.247.000 Wfesenled unrestricted fvnds and £537.000 represented restrtcted lunds. From the unrestri¢ted reserves, £200.000 ha5 been made alkKated as designated reseryes {note 15) - funds which wll be spent during 202>24. This refiecls the organFsations' cnmmibment to hold a robust18vel of free reserves for operational purposes whilst balanang the netd to invest in acti¥ty that furthers Our chaiiiable obiedives. The Board is cons¢icMJs that the NYA'S income fr(Mn key sources is highly unevgn and time between Pa￿ents1a9reernents can be lengthy. To mibgate the cashfiow risk. the charity holds a higher than ideal level of free cash reserves. t)etaifs of the restricte(l fijnds are gNen in rK)te 14. Free reserves at the year*rKI (unrestricted funds not designal&J or tied up in langible fixed assets) were £1,015.000 (2022 £609.000}. IYA R¢?nn 8 Finanei* s￿￿M*+iL 31 11s-.ch 7JA3 io REPORT ANO FINANCIAL STATEMENTS: NATICML YOLrrH AGENCY 31 MARCH 21)23 Future Plart8 Our pnm8ry focus entering FY23f24 is to dallver excell8nco across our funded programmos and WO￿ to retain our relationships with key funders so that we have the security for longer tenn planning across our strategic aims. We will also continue to explo￿ h(M we evolv8 Our commerelal offer, gr£￿ our Academy and ftow investrnents into communitres through our partnership work. We will, as ahvays. continue our research and policy WO￿ to make the case for youth work and stress the need for finarKial support for youih work and services to young people. The forthcomiw Cornmonweallh youth Wofk conference provides a unique opportunity to engage policy makers and practitioners fr￿ across Ihe globe to sh8r6 arKI inform Our undet5tanding and highlight the opportunities of youth v*)rk. We are also committed to supportin9 the DCMS on the planned launch of a strengthened slatutory duty for youth wo and have a progrdmm8 of ¥￿j￿ to provide guid8ti¢e and materla15 to support Implementalion through seThiGe raview and development. Slatement of Trustees. Rospon81bllltbos Charbty arKI Company law require the Twstees to prepare finan¢lal statement8 for each financial year whlch gNe a true and faif view of the Charitys financial aclivilies during ihe year and of lis financial positron at the end ol the year. In preparing ihe financial statements giving a true and fair view. Ihe Tnjstees should follw besi P(8Ctrx and are (equired lo: select suitable aceounting policies a￿1 then appty them Consistentty; make judgements and estimates thal are reasonable and prudent., slale whether applicable accA>unting stsndards and statements of re(x)mmended practice have beon followed. subject to any departures disclosed 8nd explained in the financial stat￿nents. and, prepare the financial statements on the going concern b8s1s unless it 1$ inapproprl8le to presume that the charlty will continue In opeFation. The TDJstees are responsibl8 for keeping accounting records whlch disclose with reasonable acturacy at any time the financial position of the Charity and which enable them to ensure that the financial slatemonts comply with appllcabte law. They are also responsible for safeguarding the assets of Ihe Charity al￿ hence for taking reasonable steps for Ihe preventlon and detect￿n of fraud a￿1 other iiregulanties. The Trnst￿ are responsible for the maintenan¢X and integrity of the corporate and financial Inlorniation included on the Ch8ritVs website. Legislatlon in the Unlted Kingd( goveming the preparation and dissemination of financial statements diffei frc legislation in other jurisdidions. In so far a$ the Trustees are aware: o Ihere is no relevant information of whkh the charity's aUdrt0￿ are nol aware: and, Rop>n 8 Finaqcwl S.'alEmeDL. JI M-,-rch 2023 REPOR.T ANO FINANCIAL STATEMENTS." NATIONAL YOUTrI AGEKY 31 MARCH 2￿23 o the Trustees have taken all steps that t￿Y ou9ht to have laken to make themselves alyare of any relevant audil Infomiation and to establish that the aiMJitor is aware of Ihat infomiation. 8•$1$ of accounting The annual financial statements are attached lo this report. These have been prepared in accordance wlth the policies summarised on pages 17, 18 and 19. Thls ￿POrt has been prepared In accordance wilh the special provisions for small companies under Part 15 of the Companies Act 2006. ,By order of the 8oard 1 6tyZg4 Carol Stone (Chair) 10111113 11111 Repor. & Firtan¢141 SièiemeT¢"' 31 P¥larcl) 20?J REPORT AND FINANCIAL STATEMENTS: NATIONAL YOUTH AGENCY 31 MARCH 2023 IndependentAudllor's report to the members ofthe National Youth Agency Opinlon Vve have audited fin8ncial statements ol the NaI￿r￿* Y¢yJth Agency (the 'parent charitsble companl) and its subsidiary (the 'group') for lh8 year ended 31 March 2023 which compfiso thg group Statement of Financial Acti¥llies, group and parenl charitable company Balan￿ Sheets. group and parent company Cash Rows Slatements and noles to the financtal slalements. induding a surnmary of slgnlfKant accounb'ng policies. The finan¢lal ￿pOrtIng framework that has been applied In th&r preparab.on Is applicable law and United Kingdom Accounting StsrKlards. Including Financial Reporting Standard 102 The Fin8ncial Reporti￿ St8nd8ffl applicable in Ihe UK 8nd Republic oritsland st in equal annual Instalments to wiite them off over their estimated eeonofflic lives. These vary according to the asset type as follows". Computer equipnRnt Flxtures and fth.ngs 5 yryJ or over the length of Ihe Ipase Débtor8 and prep8ym•nts Trade arKI other debtor5 are recognised at the setdement amount dua afteT and Irdd8 discounts. Prepayments are valued at amount Prepa￿ net of any discounts. Crnditors and provl8ion8 C￿dItorS and provisions afe recognised where the rjiarity has a presenl obligats.on resulting from a past event that will probabty result in the transfer of funds to a third party and the amount to settle the obllgalion can be measured or estimated reliably. Operating lease agrogments Rents1$ applicable lo ¢peratsng leases where substantially all of the bènefits and risks of ownership remaln wlh Ihe less¢Y are Charged agalnsl proffts on a straight-line basis over the period of Ihe lease. epoita Fin?.?C￿l &"ateJnori'. 31 March 202J io REPORTAND FINANCIAL STATEMEf4trs: NATIO￿ YOUTh AGENCY 31 fvWiCH 2023 Consolidated Statement of Financial Activities {inGluding Income and Expenditure Account) For Year Ended 31$1 March 2023 Not 2023 2023 2022 Llnrestrkted Re5tri(thl Total Tolal EIKIO INc0￿E FROM: Charitable advi1t￿8. Funth (ecer4ed lorAc*vit 91 3,692 3,783 2,898 Inveslment income Total In¢omo 3.692 3,787 2.898 EXPENDITURE ON: charfIa￿e atllvitits: Developing a skiled a￿1 efferAive Yovlh Sector Workforc¢ 720 1.738 2,724 2,154 Infiuendng practice through pot arKI reseafch 79 514 S14 491 Cfeab'ng opportunrties for yOuTrJ 187 126 Total expendlturn 2,900 2.771 NET {EXPENDrruREIISURPLUS 18911 792 199) 127 Transfer between fvnds 14 913 (913) NET hlOVEMENT IN FUNDS 1121) 127 Tolal funds brought foThva(d Totsl funds carried f¢xward 1.225 1,883 1.758 1.247 $37 1,784 1,883 The ststement of financial activiti'es Indudes all gains and losses re¢ognised in yeaf. All ineorne and Qxpondilure derive fmm rAJntinuing adréilies. Rg*WI & Fin£Dci61 Si-lanenl 311.laici1 2023 ?n REpoirrANO FINANCIAL STITEVEIITS: NATIONAL Yoimi AGENfY 31 MARCH 2023 Consolidated and Comiiany Balance Sheet As 8131 Mwth 21r23 CffjsolldatEd Company FIXED ASSETS TaWI8 aSS6t8 16 16 10 cuRRE￿r￿SE[s 11 1,409 1.427 Cash at bbnk & kn h￿j 793 2.163 1216 2.167 CREDITORS: Afflo￿ falllng d wlthln one >tar 12 (411) 1349) 1411) (394) NEf CURRENT ASSErs 1.752 1.867 1.756 1.871 NEfASSErs 1.784 1W 1.n8 1.887 REPRESENTED BY FUNDS: 14 65 De51qnat￿ funds Unra¥trld•d fund* 15 1,047 625 TOTAL FUNDS 1￿83 1.788 These finandal sl8tementg have'been prépared in.a¢>jxdan￿ wilh th8 provisitM)s appli(2ble to companies subject to Ihè 6maN i¥)fflpanles' regime. T￿￿e financial statements ￿re approved by the directors and aulhotsed for issue on and afe signed on their behalf by. t(9Jl A *o￿tr Card Stone, Chair Company Registratkm Numb8r. 2912597 The not8s on pagès 24 to 30 trKn? pan ol lh￿e fina￿ra1 8latement& IC)112113 REPORT AND FITrIANCIAL STATEMEpTfs: NATIONAL YOUTh AGENCY 31 MARCH 2023 Consolldated Cash Flow Statement 31 March 2023 20Z2 Cash Ilry••s from operntlng a¢¢fvlties Net {defi0t)18Lffp￿S (99) 127 Adjuslmentstr. Depre¢lallon oftsngiblè fixed a$aets Loss on disposal oi frxed a￿ts Inte￿$1 re￿iVed 14 (4) Chfjffjes in.. Trade and other flebto (531) Trade and cthr eled￿Or$ Cash generatedffom (4e6} Irlteregt ￿¢eNed Net cash from operair¥J ac1Ivthgs 723 (332) Cash nows from Invesllng activloes Puichase of taryble assets ProL*ed8 from sala ol investmettt¥ (30) (12) Net cash used in investin9 &lbvlUes 130) {12) Net In¢rea*el(dKrna8•) in cash Dd cash owivalonts Cash and cash •quivaleTrts at blglnniftg Ot yew Coh and ¢ash equivalents al o d ol y•ar {344) 1.151 807 REPORT ANO FINANCIAL STATEMENTS". NATIONAL YOUTH AGENCY 31 MARCH 2023 Parent Company Cash Flow Statement 31 March 2023 2023 2(r22 Cash flows from operallng acli¥ilie8 N81 {defiehy5urpt (99) 127 Adjuthwnts for. Depre¢iatlon ol ￿gible fixed ass•l$ Loss on dlsposal offixed assets Irrterest receNed (41 Chan9as in." Trade and olhef debtorJ 46) 62 1531) Trade ar#J other credrt*XS Cash g8(*fated fTuD opratkns (808) (466) Interest recthved Not cash from op9raling aclivities 723 1332) Cash flo￿ from InvestlnB #covlllog Purchase ol tangible asgets PfoMed8 from $818 of invesb1￿fits (￿) 112) Nèt ￿$h used tn invesiing adivit (30) (121 N¢t IncreaselldecrnaMI In ¢agh •nd eqvlv•lonl8 ¢￿h and ush equr¥alonts at t*glnnln9 of year Cash and fAsh equivabnts at ond of yoaf (344 1,137 793 1,486 793 REPORT AND FINANCIAL STATEMENTS: NATIONAL YOLTTrI AGENCY 31 fvWlments Included in investments is £112022: £1 } investment in a subsmdiary company al cost (see not8 16). The charty also holds investrnents in NYA Youth Work Foundation: and NYA Educats"on, which We￿ both dom)ant throughout lh8 year lo 31 March 2023. 11. Dgbtors Consolwjaled Company 2023 2022 2023 2022 £w) £w) £( 69 Amounts falllng due withln one year Trade d8bto other deblors 80 Amouni due fr¢)m subsldiary und*kt Prepayments and accnjed Total debto 18 591 18 1.326 1,427 591 1,326 1.409 1*1 YA Revi 8 rlnanrrat￿IIi_lo￿ntr. 3f frA8rcrb 2v2i REPORT AND FINANCIAL STAIEMENrs: MnoNAL YOUTH AGENCY 31 MARCH 2023 DCMS granl inc¢yne of £537k rdats'r& b 2023 was re￿l¥ed posi year erKJ. 12. Credilor8 falllng due within on• year Consoliéaled 2023 Ccffjpany 2022 23 £￿0 Trade.uedlrJs 01￿1 taxallon and scoal seojrity Olher C￿dr.015 A￿luat$ Defeffed in¢ome Totsl 12 51 12 12 51 12 67 411 411 Analysis of deferrnd inc(xne 15 as folkAVS". Company 2tr22 2023 67 51 67 51 foivrd Ulilised isiThJ Tolal (67) (51) 67 67 (67) {51) 67 Oelerred inc4Jme 55 payments recer￿ ftr maftagiry youth programmes where the ielated expendFture will be incurred after 31 fv1arch 2024. 13.Flnanclal ¢ommitrn8nts Ihere were no ¢apilal cormiilmenls at 31 Marth 2023. •POft É Finaficpi 51aieft*Dr 311&13rth 202? REPORT AND FINANCW STATEMEfrUS: NATIONAL YOUTH AGENCY 31 MARCH 2023 14. Restrlctsd lunds 31 March CJJt90ing Tfensfer sources ￿$￿rCeS £'ooo 31 March 2023 £'(x)o £YJoo Developing 8 Skilled and effethe Youth Seclorworkfor 2.189 {1,738) (594) Influenclng Fwaclicé throLwJh wlicy and re88arth 579 (514) (115) Creating Opportun￿ for y¢wng 924 {648> 72 (2.gX)I {913 $37 Due to the nature of fijnding across a number of large tr￿1vIdUal projects. the festrbcled fund5 have been apportioned across the main areas of chafit8ble activity. Details of tr Individual projeds are induded in TnJ8tees ReporL Details of transfers belween funds are set out in note 6. 15. Deslgnated Funds A designated fund 01 £200,000 has been set aside at 31 March 2023 to fund the amplifi programme. digital development across the Youlh Wort( One platform and scope options for building best practic6 and approaches for di9ilal youth work delivery in th6 Goming year5. 16, Subsldlary Company The National yO￿h Agency controls NYA TradiNJ Limited. The prlncipal activities of NYA Trading Limited are the provision of training and other commercial ser4iees. A summary of the financial activitts for the year and of the assets of NYA Trading Limited 2022 InD)me Rosouw expef Net {Outw'rvJy IrKoming Resources sets 14 18 4) 14 18 (4 FurKIs Ivli R Éjtsri 8 Flnancixl 8tatertwL' 31 fvkirdi ?¢)23 29 REPORT AND FINANCIAL STATEMENTS: NATIONAL YOUTH AGENCY 31 MARCH 2023 17. Parent charhable company The unconsolidated deficit of the parent charitable company for the year was £99k (2022 surplus £127k). 18. R•lated Party Tran8acllons There are no related party transactK)ns that require disdosiThJ. 19. Analy818 of net a•8•ts betrrnen lund8 at 31 March 2023 u￿￿tricted RestriGted Totsl Funds Funds Fund$ 2023 TaNdlble fixed 8s8ets Current assats 537 2,183 Credttor&183s than 1 par <411) (411) Net Assets 1,247 S37 1.7&4 Repori 8 Ftiknfj.?r41 SiiiQinefj: 31 I￿1￿reh 7023 30 REPORT AND FIFiANCIAL STATEMENTS: NATIONAL YOUTH AGENCY 31 MARCH 2023 Tfustees and Management NYA Commltte• Membevdhlp 202213 8oard of Tru$ts¢$ 6art)ara Bradley {Chair) - Stepped down 18111r2022 'Toby Ducker (Interim Chair) appointed 1811112022, (Chair of Finan￿ and GoVernanr￿) Carol Stone Chair (Chalr of Impact Committee)) Alex Renshaw (Chaif of GrThth Committee) Kanneth Meeson (Chair of Audit Ci)mfflittee) Mark Norris (Chair of People Committee) Gill Millai {Chair of Education & TroiniTg Standards Committee) - stepped dwi 415r2022 Breda Leyne {Chaif of Educatlon & TrainiNJ StarKlards Cornmittee)- appointed 25105r2022 Sally Carr {Chaif of NYA Safeguarding Board) Ali Pickering Amma Anderson Oan¢el Chery Gabriel 8uck Helen Watson Mark Cory Mervyn Kaye Lynne Stevens- stepped d￿n 2311iJr2022 Financè and Governanco Commltteo Toby Ducker (Chair) Gabriel Buck Carol Stone Lynne Stevens- stepped dtmn 2311(f2022 Audit Committe¢ Cllr Kenneth Meescffi (Chair) Toby Ducker Growth Commiitoe AlexarKlra Renshaw {Ch8ir) Lynne Stevens. slepped dthwn 23110r22 Alison Pickering Gabriel B￿k Peoplo Commlttoo Mafk Norris (Chair) Helen Walson M8rk Cory Daniel Chery Impact Committee Carol Stone