The Swan Youth Project Lfimfited (A company limited by guaTant¢e) Dire¢tors' report and fmaneial statements for the year ended 311 June 2024 Con]pany registration number 02947322 Registered charity number 1039966 Bianca Permal FCA Dux Advisory Limited Chartered A¢¢ountants Suite I Amersham House Mill Street Berkhamsted Hertfordshire HP4 2DT
The Swan Youth Project Limited Company information Directors MTS S SWariCk Chair Mrs J Jacques Mr T Streater (resigned 22 March 2024) MTS K Rogers Mrs V Sindernw Ms H Rognaldsen Mr R Fr¢edman Ms K Ashton (appointed 16 May 2024} Company number 02947322 Register¢d charity number 1039966 Registered offic¢ 1371139 High Street Berkhamsted H¢rtfordshire HP4 3HH Independent Examiner Bianca Pennal FCA Dux Advisory Limit¢d Chartered AccounÉants Suite I Amersham House Mill Street Berkhamsted Hertfordshire HP4 2DT Bankers Barclays Bank PLC
The Swan Youth Project Lin)ited Contsnts Page Directors, report Independent examinevs report stst¢ment of financial activities Balanc¢ sheet 9-10 Notes to th¢ financial statements 11-20
The Swan Youth Project Limited Directors, Report for the year ended 30 June 2024 The Past Year - Change, Suecesses and Challenges The Swan Youth Project (SYP) continues lo prioritise the importance of providing youth s¢rvi¢¢s whilst so many faciliti¢s ar¢ closing due to a lack of funding. Unfortunat¢ly many of the challenges outlined in last year's directors report Continue whilst at th¢ same time sources of fiulding are contracting and in many cases disappearing. In exercising our core purpose, the Swan has witnessed a tsngible impact from the cost-of-living Crisis with many members having food at the c¢ntre as their main ¢v¢ning m¢al (we also provide healthy snacks when ¢llgag in outreach wotk). Thus, our expenditure on food has incr¢as¢d despite donations from FareShaTe and others. Since the change in the 'best before dates,, we have also seen a drop in the number and quantlty of donations. It should be not¢d that Waitrose in Berkhamst¢d recognise the challenges we fac¢ and continue to be generous supporters of the SYP. We are working closely with Schools to address issues wh¢r¢ members and families are strnggling and in conjunction with support services we offer help where we are able. We see a range of mental health issues from low level anxiety to serious self-harn]. all of which has required a considerable amount of input from staff, with further training required to increase expertise. Our work with various organisations has provided the funding and support to deliver programmes to specifically address these changing and increased needs. our particular thanks to HertfoTdshir¢ County Council's Building Lrf¢ Chances programme which has funded two large programmes that continue into the new financial year Collaboration and sign-posting to services has lllcr&ed and has b¢en successful. W¢ work very closely with our feeder school, Ashlyns, and support students as required. We contillue to expand our reach by going into the primary schools to talk about th¢ work of the Swan Youth Project, especially to students in Y¢ar 6 who are transitioning to secondary school. This was a need we identifi¢d due to the impact of COVID and lack of socialisation skills amongst this demographic. We hav¢ worked with Community Action Dacorum to help sdentS with their CV writing and have signpost¢d work exp¢ri¢nce sMdents. We have also continued to work Closely with local churches to deliver the HCF HAPpy Programme for children in r¢ceipt of fr¢¢ school meals as well as taking part in celebrations such as Sukkot at St Peters Chur¢h. We also w0¢d with the Rotary Club to raise funds for the Swan Youth Project and also empower our volunteers. Funding from a variety of grants has enabled us to deliver a range ofprogramrnes, and activities. We have continued running our Cookery Life skills for Year 12 students, gardening projects in our newly refurbished coutyard WAth Hanako and tnany mor¢ life enriching experiences. The financial support and encouragement from Berkhamsted Town Council is pivotal to provide a Programme of services for our members. It also enables us to look at opportunities for staff training and expansion of the existing team. Looking ahead We continue to see more mental health issues with the volume and complexity increasing. This means more signposting to services and liaison with families and schools so that w¢ are involved in providing a positive circle of support. We anticipate we will continue to see this increase into 2025 due to the increased pressures on other youth provision services, which encourages and requires us to expand our team and its expertise. Page I
The Swan Youth Project Limited Dlrectors, Report for the year ended 30 June 2024 (continued) Our Constant and greatest challenge is to secure funding as far possible into the ture. Put sixnply the level of fid1Thg detern]ines the resour¢es and activities we can deliver with sustainable. secure funding being critical to developing and delivering multi-year programm¢s. Our Board of Trustees is currently engag¢d in seeking opportunities for local business partnerships so that w¢ can diversify our sourc¢s of in¢ome, thus reducing our dq)¢nd¢ncy on restricted grants income. This will also enable greater flexibility for futyre programme delivery. The directors have spent an away d&y focused on diverse areas of funding and continue to do all possibl¢ to increase fimding streams. As with other youth provision services. stsff re¢ruilment and retention remains difficult, however, we have refined our r¢¢ruitment process and now hav¢ a strong team in place which giv¢s us nfidence for the ture. We have and will continue to be proactive so that we can best support our members and families. We are always working to incr¢ase the positive impact we can have addressing the macro societal ne¢ds that we encounter daily on a micro level. Our young peopl¢ continue to be the priority and we strive to support them as b¢st w¢ can. Structure, Governance and Management The Swan Youth Project Limit¢d ("SYP") is a registered charity and company limited by guarantee and governed by its Constitution. Its purpose is th¢ provision of a safe recr¢ational facility with an associated activity progranllne for the young people of Berkhamsted and the sum)unding area. The SYP was originally established with the aim of purchasing The Swan Inn in Berkhamsted, which at th¢ time was a sixteenth century coaching inn in danger of becoming derelict, and to develop it for the benefit of the young peopl¢ of Berkhamsted. The Inn was acquired with financial support from the then National Lotteries Charities Board. The SYP legally owns the entir¢ buildiiig though most of it is le&8ed to P¢abody (fornierly Catalyst Housing Limited and before that. Aldwyck Housing Association) on a long tern) lease which comprises of the upstairs and part of the downstairs of the building which were th¢n developed to provide accommodation for homeless young people of the district. The SYP uses the remainder of the building focusing its efforts on d¢v¢loping a recreational facility for the young people of the area. The SYP is continually looking for new, active, committed individuals to serve as trustee/directors. Most hear about it through 'word of mouth. contact with an existing trust¢¢/director and through other routes. Potential trust¢¢sldirectOTS are provided with infornthtion on th¢ SYP arld invited to attend som¢ meelings until they fallY decide to serve. They can dien be ¢lected as trnstee or director by the existing board of directors, which effectively ndions as its management committee. The SYP currently ¢mploys three full time staff together with a varying number of part-tim¢ youth workers to manage and the day to day activities of the clwity. Our Mission The SYP is a unique and w¢ll-eslablish¢d youth centre at th¢ heart of B¢rkhamsted- providing vital services for all young people (11-16 years) from Berkhamsted and the Suound1ng areas. Somewhere to Go. Something to Do. Someone to Listen. Our mission is to provide a happy, safe, supportive and engaging place for young people in the town and surrounding areas. Page 2
The Swan Youth Project Limited Directors, Report for the year ended 30 June 2024 (continued) undeIDning our mission ar¢ our core values of. Empowernient: we put the needs of our young people at the heart of everything we do, remaining relevant and engaged. Respect: we respect each other and operdte with integrity" and Sustainability: we will continue to athl value to our community now and in the future. Our core valu¢s go band in hand with our planning b¢ing btsed around the holistic wellbeing principles of th¢ .5 Ways to Wellbeing.. As an integral part of the Berkhamsted community. the SYP works in parlnership with local schools and busin¢ss¢s, to support the community's next generation to realis¢ their potcntial and to contribute positively to its future. The SYP off¢rs a core daily 'dmp in. s¢rvic¢ and provides a range of structur¢d activities. It is a safe, fun. and supportive space for young people to develop valuable skills outside of school. promoting positive mental and physical healt whilst offering more targeted support and signposting to the most vuln¢rable. Swan Centre Management The SYP centre is well equipped with games such as pool and table football. a computer and internet room, a chill- out room, a fully equipped music roo DJ booth, games consoles and a r¢freshments area. Our regular activities during tenn time include after school thop-ins 3 6pm Monday to Friday, recreational activities. gig nights, ¢tc. Apart from th¢se regular activities, the SYP has provided and offers at various times depending on n¢¢ds and resources. stsucthred activities such as: Enrichment opportunities such as theatre visits, pottery workshops, floristy session, and many more. We ensure that finance is not a barrier to participation and access to activities is ma(k possible- Involving young people through the opportunity to volunteer at the SYP. Support and inforn]ation to enable members to make infornied choices about issues that concern thenL some of these being '¢oiinty lines, workshops, focus on 'lives not knives. through Billvs Wish workshop. PCSO visit and many wellbeing discussions. Healthy relationships and what these look lik¢- managed by third partics to provide sUprt. Cr¢ativ¢ learning through arts, music and citizcnship and encouragcment to enjoy n¢w ¢xpcricnces by participating in activities such as drama, skate boarding and video making. Outreach work is delivered in th¢ local schools and Community groups. and at the local skate park and football pitch to engage wilh the harder to reach members of the community. and Training whcre members have the opportunity to attcnd many diff¢r¢nt training workshops such as drugs awareness, careers. first aid. The dircctors wish to thatth all our stsff for their continued contributio]J during the past year. We also thank all the youth workers and volunteers who help us to reach out to 11-16 year olds and to deliver a number of specific programtnes to our Lnembers. Page 3
The Swan Youth Project Limited Directors, Report for the year ended 30 June 2024 (continued) Looking forward, our priorities are to grow our membership, evolve our services and activities, rnise our profile in the local Community, and increase and diversify our funding. Our website htt s:Ilwww.theswan outh ro ect.¢o.uk) provides inforniation on our activities and a platforn] to outreach to members, local busin¢ss¢s. other related organisations and supporters of all kinds. Risk Management The trustees of th¢ charlty remain v¢ry aware of the pot¢ntial risks associated with the centre. Everybody who works with young people is subjected to Ihe appropriate DBS checks. All necessary operdting procedures have been estsblished and are r¢gularly revlewed. Wb¢re necessary, the advic¢ of the local police, health and f¢ authorities is obtained. Funding Whilst the SYP centre does generat¢ a small an]ount of income from activities, it remains heavily dependent on grants and donations. During this funCial year, a numb¢r of grants were r¢c¢ived and are detailed in th¢ attached financial report. The directors are extremely grateful to all those who provided such fmancial support. We are particularly grateful to HertfoTdshire County Council for th¢ir fimding and engagement on a number of programmes during the year and into our next financial year. We continue to r¢ceive fidIng from BerkInsted Town Council as they hav¢ done so over many years. The continued nature of this fwiding is critical to sustaining the SYP, not just because of the amount involved but also because of th¢ benefits of th¢ longer-tenn nature of this support. We continue to receive financial support from the Garfield Weston Trust, Quanta, our local churches. community organisations and schools, and Élldividuals. all of which we appreciat¢ very much. The amount of grant funding opportunities continues to decline and ourfocus continues to be to attract new sources of funding. Being a local charity, the Trustees have continued to focus more than ever on local organizations. businesses and individuals. W¢ building our network of local supporters as we see our continued funding to be mor¢ than ever dep¢nd¢nt on such local support which can be through the provision of donations, resources or participation in projects. Maintaining an adequate fiaillg pipeline MaInS a key priority for the Trustees to ensure th¢ sustainability of the centre and its progranm]e of events. We have not employed any professional fimdraiser or commercial participator during th¢ ycar. Page 4
The Swan Youth Project Limited Directors, Report for the year ended 30 June 2024 (continued) Finan¢ial Issues Th¢ financial perforniance of the charity for ihis year is outlined in the following sch¢dul¢s, which have been prepared so as to provide an accurate, reasonable, fair and balanced view of the financial state of the Company. In preparing thes¢ fmancial ststements, the dir¢ctors have sought to select suitsbl¢ accounting policies and apply them consistently, make judgements and estimates that are reasonable and prudent, and prepare the financial statements on the going concern basis. Following Covid, one objective has been to increase our reserves and w¢ are pleased to say that we have made son]e progress in that regard, while furthcr progress is required over thc next few years. Funds at year end Total funds at the end of the year were £118,247 (2023: £110,329). of which £65,104 (2023: £67,333) were restrictcd funds, principally represented by the freehold and long leasehold interests in buildings together with ertain ¢quipmcnt as detailed in Note 5 to th¢ accounts. The SYP began opcrations with a grant from the National Lotteries Charity Board in 1996 (£102,056 of capital funding and £90,010 of revenue funding with the final payment received in Junc 1999). AccordiDgIy, we had £53,142 of reserves being freely available unrestricted fimds at 30 June 2024 (2023.. £42,996). Llquid Assets The liquid assets held by the Company and projected outgoings are r¢viewed at regular intervals by the directors. Given the increasingly volatile natur¢ of grant funding upon which it is heavily dependent. the directors will seek to ensure that at least six months of operating expenditure is held in liquid fLmds. In the event such funds fall close to this level, the directors will seek to Taise further as quickly as possible. Should they fall below this level, a contingency plan will be implemente Management Committee The memb¢rs of the management committee who served as directors for the puLpos¢ of company law during the ycar and to the date of this report are set out ID the Company information page. Those samc directors also scrved as trustees tor charity law purposes during the year and to the date of this report. Adan] Hawkswood is the Curllt repTesentativc of Berkhamsted Town Council serving as d member ot.thc anagement committee. As directors we are responsible for maintaining proper accounting recor(Ls. which disclose with reasonable accuracy at any time the financial position of the Company and enables us to ensure that the fmancial stat¢mcllts comply with the Companies Act 2006. We ar¢ also responsibl¢ lor safeguarding the assets of the Company and taking reasonable steps to pr¢vcllt and dett frau(L In accordanc¢ with company law, as the Company's directors we certify that we are not aware of any r¢l¢vant accounting inforntiOn of which the ind¢pendent examiner is unaware and that w¢ have taken all the steps that w¢ ought to have taken to make ourselves aware of any relevant accounting informatii)n and to establish ihat the charity's independent examiner is aware of that inforniation. Page 5
The Swall Youth Project Limited Direetors. Report for the y¢ar ended 30 June 2024 (tinUed) Indepelldent Euminer BianL&Pumal FCL aDirector with DuxAdvisory,was appoiDted as the Company's indepeodentexamin¢rth7ring the year and has expressed her willingness to continue in that capacity. Small Company ExemplioDs and chariti SORP This r¢port has been prepgred in accordan with the Staiement of ROI)lellded Practice: Accounting and Rep)rtiDg by Clwiti¢s preparing their accounts in accordanc¢ with the Financial Reporting Standard applicable in the UK and R¢public of Ireland (FRS 102) and with the CharitÈes Act 2011, aud in aco)rdance with the s¥ttial provisioThs olPart Vll of the Compauies Act 2006 applicable to small compani&%. Signed on b¢half <yf the Board of DItorS on 4 Novemb¢r 2024. £sgiiJKbri61 SaDdr4 Swarbriek Chair Page 6
The Swan Youth Project Limited Independent examlner's report to the Trustees of The Swan Youth Project Limited I report on the accowits of the Company for the year ended 30 June 2024, which are set out on pages 8 to 20. Respe¢tive responsibillties of dlreetors and exY4miner The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for the pr¢paration of the accounts. The charity's Trnst¢¢s consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is ¢ligible for independent examination it is my responsibility to examine th¢ accounts under section 145 of the 2011 Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act, and to state wh¢th¢r particular mattets hav¢ Com¢ to my attention. Basls of independent exan)finer's report My examination was carried out in accordance with the general Directions given by the Charity Conm)ission. An examination includes a review of tbe accounting records kept by the charity and a comparison of th¢ accounts presented with those Tecords. It also includes consideration of any unusual items or disclosures in the accounts, and seeking of explanations from you as trustees concerning any such matters. The Procedures undertaken do not provide all of the evid¢n¢e that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a "true and fair vi¢w" and the report is limited to those matt¢rs set out in the statement below. Independent examiner's statement In Connection with my examination, no matter has come to my attention (l ) which gives me reasonable cause to believe that. in any material respect the requirements to keep accounting records in accordance with section 386 of the Companies Act 2006, and to prepare accounts which accord with the accounting records, comply with the accounting r¢quirements of section 396 of the Companies Act 2(K)6 and with the nlethods and principles of th¢ Statement of Recommended Practice.. Accounting and Reporting by Charities have not been met. or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be red. 8P Bianca Permal FCA Dux Advlsory Limited Chartered Accountants Suite I Am¢rsham Hous¢ Mill Street Berkhamsted Hertfordshire HP4 2DT 4 November 2024 Page 7
The Swan Youth Project Limited Statement or rinancial actlvities for the year ended 30 June 2024 Unrestrleted funds Restrieted fund$ Totsl funds Total funds 21124 2024 2024 2023 Notes RESOURCES UTILISED Incoming resources from generated funds voluntary income.. Donations Grants 30,187 40,072 30,187 88,076 32,922 82,769 48,004 Activities.for generatingfynds.. Lettings and premises hire Inveslment and rental income.. 2,244 2,244 1.153 1,842 1.842 1,496 IDcoming resources from charitable activities Tuck and activity income Total in¢oming resourees 124 059 RESOURCES EXPEINDED Costs of generating funds Charilable activities Staff costs Other expenditure Depreciation 38,493 24,289 43.054 4,950 2,229 81,547 29,239 2,229 68.334 32,611 2229 Governance costs Total resources expended 116 141 105 Trlet incoming resources RECONCILIATION OF FUNDS Funds brought forward Result for th¢ y¢ar 42,996 67.333 110,329 96,260 Funds carried forward The notes on pages I I to 20 fonn an integral part of these financial statements. Page 8
The Swan Youth Project Lftmlted Balance sheet as at 30 June 21124 Unrestrieted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Notes Fixed assets Tangible fixed assets Current Assets Debtors and prepayments 11,623 11,623 10,814 Cash at bank and in hand 73,622 4,882 78,504 92,409 Creditors: amount fÉilling due within one year Net CUent assets 882 Net assets Total fullds io The directors, statements r¢quired by Sections 475(2) and (3) ar¢ shown on the following page which fornis part of this Balance Sh¢¢t. The notes on pages I I to 20 forni an integral part of these fmancial statements. Page 9
The Swan Youth Projeet Llmited Balance she¢t as at 30 June 2024 (Continued) Directors, statements required by Seelions 475(2) and (3) for the year ended 30 June 2024 Sn approving these fjnancial statemetts as directors of the Conwy, we hereby nfiM1. (a) that for the year stated above the Company was entitled to the exemption confeed by Section 477 of the Companies Act 2006. (b) that no notice has been deposited at the registered otTice of the Company pursuant to Section 476 requesting that an audit be conducted for the year ended 30 June 2024. and (C) that we acknowl¢dg¢ our responsibilities for. (l) cnsuring that the Company keeps accounting records which comply with Section 386. and (2) preparing financial statements which give a ttue and fair vi¢w of the state of affairs of the Company as at the end of the financial year and of its profit or loss for the year then ended ill accordance wilh the requirements of Sections 394 and 395 and which otherwise comply with the provisions of the Companies Act relattng to financial statement4 so far as applicable to the Company. These fu]ancial statejnents have been prepared in accordance with the provisions applicable to ¢omydDi&S subject to the small companies, regime. The financial statements were approved by the Board on 4 November 2024 and signed on its behalf by: Sandra Swarbrlck Chair Company registered number: 02947322 The notes on pages I I to 20 forni an integral part of th¢se financial statements. Page 10
The Swan Youth Project Limited Notes to the financial statements for the year ended 30 June 2024 Accounting policfies The principal accounting policies are summaris¢d below. The accounting policies have been applied consistently throughout the year and th¢ pr¢c¢ding year. 1.1. Basis of a¢¢ounting These accounts have been prepared under the historical Cost convention with items recogmised at cost or transaction value unless otherwise ststed in the relevant note(s) to these accounts. The a¢counls have been prepared in a¢¢ordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing thetr accounts in accordance with the Financial Reporting Standard applicable in the UK and R¢publi¢ of Ireland (FRS 102) and with th¢ Charities Act 2011. The presentation currency of the accounts is in Pounds Sterling. 1.2. Golng eoDcern The accounts are based on the going conc¢rn basis on the assumption that th¢ charity is able to secure adequate long temi finance to support its operations and the clwity's objectives. 1.3. Fund accounting Restricted fimds represent fi]nds that are to b¢ 8¢d for a specific purpos¢ an(Vor ovcr a specified period of timc as requested by the donor. Unrestiicted funds are those funds that have not had a r¢striction placed on them by the donor and are available for use at the discretion of the Trnstees in furtherance of the charitable objectives of The Swan Youth Project Limited. 1.4. IDcome Recognition of income All incoming resources are included in the statement of financial activities wben the charity is entitled to the income and th¢ amount can be quantified with reasonablc accuracy. The following specific policies are applied to particular categories of income: Offsetting There has been no offsetting of assets and liabilities, or income and expens¢s. unless required or perniitted. Pagell
The Swan Youth Project Lin)ited Notes to the finallcial statements for the year ended 30 June 2024 (continued) 1.4. Income (continued) Grants and donations Grants and donations (including where applicable. Gift Aid) are only included in the Statement of Financial Activities (SOFA) when the general income recognition criteria are met. In the case of performance related grants, income is only recognised to the extent that the charity has provided the specified goods or seryices as entitlement to the grant only occurs whcn the perforn]anc¢ rclated conditions ar¢ m¢t. Contractual income and performance related grants This is only includ¢d in the SOFA once the charity has provided the related goo(Ls or svIceS or met th¢ perfornlance relat¢d conditions. Donated serrices and facilities Donated servi¢es and facilities are included in th¢ SOFA when receiv¢d at the value of the gift to the charity provided the value of the gift can be measured liablY. Donatcd services and facilities that are consumed imm¢diately are recogniscd as income with an equivalent amount Tecognised as an expense und¢r the appropriat¢ h¢ading in the SOFA. Volunteer help Th¢ value of any voluntary help received is not included in the accounts but is described in the Tru5tees' annual report. Tradlng tncoming resouTces from charitable trading activity are account¢d for when earn¢d. Investment ID¢ome Investment incom¢ is included when receivable. l.S. Expenditure and Liabilities Resources expended Costs of g¢n¢rating flmds comprise the costs associated with attracting voluntary income and th¢ costs of trading for fund raising purpos¢s. Page 12
The Swan Youth Project Limited Notes to the fanCial st4temeDts for the year ended 30 June 2024 (continued) 1.5. Expenditsre and Liabilities (contlnued) Charitable expenditUTe compris¢s those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes Ix)th costs that can be l0(ated directly to such activities and those costs of an indirect nature necessary to support them. As the charity is not r¢gistered for VAT, it cannot r¢cover any VAT charged on ¢xp¢nscs, which are therefor¢ accounted for inclusivc of VAT. Liability reeognition Liabilities are recognised wher¢ it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Governance and support costs Support costs have been allocated between governance costs and other support. Governanc¢ costs comprise all costs involving public accountability of the charity and its compliance with regulation and good prdcti¢¢. Creditors The charity has creditors wbich are measured at settletnent amounts less any trad¢ discounts. Provfisfions for liabillties A liability is measur¢d on recognition at its historical cost and thcn subsequently measured at th¢ best estimate of the amount required to settle the obligation at the reporting date. Basic financial instruments The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7 FRS 102 SORP. Subsequent measurement is as per paragraphs 11.17, 11.18 and 11.19, FRS 102 SORP. Page 13
The Swan Youth Project Limited Notes to the finan¢Ral statements for the year ended 30 June 2024 (continued) 1.6. Assets Fixed 2$sets Fixed assets {excluding investm¢nts) are stafrd at cost less accumulat¢d depreciation. The freehold and long leasehold fixed &ssets have not been r¢valued. The costs of minor additions and those costing less than £1,000 are not capitalise(L Depreciation is provided at rates calculated to write off the cost of ¢ach &sset over its expected useful lif¢. Assets in the cours¢ of construction are not depreciated. Freehold land is not depreciated. Long leaseholds are depreciated over fifty years, leasehold improvements are depreciated over periods between five and filty years. Fixtures and equipment ar¢ written off over five years. musical equipment over three years and electrical equipment over two years. Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition at settl¢ment amount after trdde discounls or amount advanced by the charity. Subsequently, they ar¢ measured at the cash or other consideration expected to be r¢ceived. Page 14
The Swan Youth Project Limited Notes to the financial statements for the year ended 30 June 2024 Incoming resources Unrestrleted Restricted 2024 2024 Total 2024 Tot21 2023 Donations Donations, Gift Aid and other Revenue grants Berkhamst¢d Town Council Garfield Weston HCC Family & Health Services Home Ed Group HCF HAPpy Holiday Activities Delamere Dairy Foundation HCF County Lines Impactful Goven]m¢nt Nigel Taylor, HCC Councillor Coop Community Fund Hedley Trnst Shanly Trnst Albert Hunt Trnst St James's Place 30,000 10.000 30,000 10,000 36,428 72 3,321 32.000 11.500 13,339 5,930 5,608 5.000 4.850 1.480 1,000 2,062 36,428 72 3,321 495 495 460 1,000 3,000 1,000 3,000 48.004 Activities for generating funds L¢ttings and prcmises hire Investment income Rents Bank interest 933 9119 933 909 1,267 229 1,496 Incoming resources from charltable activities Tuck and other sales Activity incomc 551 551 998 100 Total Page 15
The Swan Youth Project Limited Notes to the financial Statements for the year ended 30 June 2024 Resources expended Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Charitable activities Staff costs Operating ¢o$ts Actlvlty programmes and activities Equipment, repairs and security Insurance IT and w¢bsite Heat and light Telecommunications Water Stationery, printing and postage Other running Costs 3.185 6,017 3,837 992 6,405 1,229 660 227 4,950 8,135 6,017 3,837 10,295 9.744 3,158 2,382 2,091 1,144 498 326 6,405 1,229 660 227 Depre¢iatlon Governance Accounts Examination Legal advice 2,635 491 2,635 491 947 Total Page 16
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Th¢ Swan Youth Project Lijnited Notes to the financlal statements for the year ended 30 June 2024 Tangible fixed assets Land and Long Long Fixtures, buildings leasehold leasehold fittings and freehold property improvements equipment Total C(vJt At 30 June 2023 Additions 20,000 24,239 73,747 44,237 162,223 At 30 June 2024 24 162 223 Depreciation At 30 Junc 2023 Charge for the year At 30 June 2024 12.812 485 46.578 40.382 593 99,772 102 001 Net book amounts At 30 June 2024 At 30 June 2023 Restricted Unrestricted At 30 June 2024 20,000 10,942 26,018 3,262 60.222 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Debtors and prepayments Gift Aid receivabl¢ Rent, hire and services Grant receivable Prepayments 2,313 898 7,500 912 2,313 898 7,500 912 2,059 400 7,500 Page 18
The Swan Youth Project Limited Notes to the financial statements for the year ended 30 June 2024 Creditors: amounts falling due Trvithin one year Unrestricted funds 2024 Restricted funds 2024 Total 2024 Tot41 2023 Creditors A¢¢nlS Deferred income 2.040 4.479 2,040 4,479 2,937 2,675 Def¢rr¢d income represents cash amounts received during this and prior financial years in respect of project activities and rnnning costs that are planned to be executed in the next following years, when such income will be recognised in the Statement of Financial Activities as progress is a¢hieve(L Taxatio The Company is a register¢d charity and did not hav¢ any liability to corporation tax during the year. Unrestricted funds 2024 Restri¢t¢d funds 2024 Total funds 2024 Total funds 2023 Staff costs and nmmbers Salarles and wages There were one full time manager, one full time youth worker and two part-time senior youth workers employed during this financial year togeth¢r with varying numbers of youth support workers. The average number of employees during the year was 3 (2023.. 3). io. Reserves Total fimds at the end ofthe year w¢re £118,247 (2023: £110.329), of which £65,104 (2023.. £67,333) were restricted funds, principally represented by the freehold and long leasehold interests in buildings together with c¢rtain equipment as detailed in Note 5 above. The SYP began operations with a grant from the National Lotteries CILarity Board in 1996 (£102,056 of capital ndIng and £90,010 of revenue funding with the final payment received in June 1999). Accordingly, we had £53,142 of reserves being freely availabl¢ unrestricted funds at 30 June 2024 {2023: £42,996). Page 19
The Swan Youth Project Limited Notes to the financial statements for the year ended 30 June 21124 ii. Transactions wlth related parties No Director or Twst¢e received any remuneration or expenses in respect of their services during the year {2023: £0). 12. Company Ilmited by guarantee The Company is a company limited by guarantee without a share capital. tn the event of a winding up of the Company, the members have agreed to contribuk £10.00 each. Page 20