REGisfERED COMPANY NUMBER: 02967126 (EnglAnd And W41es) REGISTERED CHARITY NUMBER: 1042121 YOUTH ACCE UDiudlled Flninelal Stst¢ments for th• Yeir Ended 31 Mareh 2024 Xeinadin NiBhtinBale Hou 46.48 EASI Sir¢el Epsom Surr¢y KT17 IHQ
YOiFfH ACCESS Contents of Iho FlnaMtlAI StAleni¢nts for Ihe year ended 31 Moreh 2024 Page Report ofthe Tru$t¢t4 I to 12 Jndependent Exlmlner's Report 13 StAeem¢nt of FlnAn¢lal Aetlvllles 14 BAlonc¢ Sheet 15 to 16 Notes to the Flnanelil Statements 17 to 25
YOUTkl ACCE&S (REGISTERED NUMBER: 02967126) Report of Ihe Trugtus for th¢ year ended 31 MAr¢h 2024 Chair & CEO introduction In the last twelve months, Youth Access members across the couniry have contlnued to provlde a vltal Ilfellne for young people navlgatlng Increa81ngly complex challenges In thelr Ilves. Across our netwoiK we've seen young people face mountlng dlfflcultles, Includlng houslng shortages, homelessness, and systemlc gaps In support for 17-25-year-olds. Alongslde this, our members grapple wlth the pressures of Insecure, short-term funding and the Impact thls has on thelr abillty to sustalnably meet young people's needs. But desplte these challenges, our members remaln deeply commllted to thelr local communltles. They know-as we do-lhat open-access, hollstlc servlces can make a transformatlve dlfference In young people's Ilves. The early Interventlon, whole-llfe support Ihe Youth Access Hub model provldes prevents problems from escalatlng and provlde8 young people wlth Ihe tools they need for 8 healthy adulthood. Two years ago we set out an ambltlous new strategy, We focussed on Increaslng Acce88 to servlces for young people who need them, Drlvlng Equlty to ensure communlties of typlcal marglnallsed young people have a greater volce, and Improvlng Experlences for young people wlthln member servlces. This year wlth the help and guSdance of our members and young people we have made signlflcant strldes towards achlevlng our vlslon to ensure that all young people can access support from communlty-ba8ed advlce and counselllng servlces that respect thelr rlghts and meet thelr Indlvldual needs. Thls year, our collectlve volce has been heard. We celebrated a slgnlflcant mllestone.. commltment from theDepartment for Health and Soclal Care to provlde almost £8 mllllon to deliver new or expand exl8tlng communlty-based Interventlons for young people across England. Thls fundlng acknowledges the vital role member servlces play and reflects the Incredlble impact of several years of campalgnlng alongslde young people, members and the wlder Fund the Hubs campalgn. We are proud to see our members recelve the recognltlon and support they deserve for thelr superb work. Our new approach to worklng wlth young people to provlde strateglc leadership has been at the heart of many of thls yearfs projects. Young people Informed our step-by-step campaign facllltatlon gulde for members on leadlng change and co-developed a set of guldlng prlnclples for youth-led soclal acllon. The enormous success of these projects Is evidence of the dlfference young people can make, how we can empower them to be change leaders and the potentlal beneflts th18 can provlde those Involved. Page I
YOiITH ACCESS (REGisfERED NUMBER: 02967126) Report ofthe Truste ror the ye•r ended 31 Mireh 2024 In thls second year of the strategy, we have continued to ampllfy the volce of the youth advice and counselling sector. Through initlatives like the collaboratlve Fund The Hubs campalgn, our first Member Meet event, and the launch of several new networks, we have strengthened connections and collaboratlons across our community. Our new webslte now h08ts a wealth of resources, Includlng the Local Influenclng Llbrary, and we've dellvered onllne weblnars and tralnlng sesslons to equlp m8mbérs wlth the tools they need to thrlve. Our second Impact and Learnlng report has demonstrated our commitment to Improvlng how we measure the effectiveness of our work and that of our members. By sharlng learnlng and fosterlng collaboratlon, we are helplng to bulld a stronger, more resllient Sector. The General Electlon presents a cruclal opportunlty to bulld on thls recognltlon. In Ilne wlth our renewed approach to worklng wlth young people and through our members, young people co-produced our pollcy asks for the electlon. We wlll contlnue to fight boldly for actlons Ihat ensure all young people can access support that respects thelr rlghts and meets thelr needs, and that an Incomlng Government's declslons are Informed by the expertise and experlence8 of exlsting servlce8 and young people's volces. The open-access, 'whole-Ilfe' 8UPPOrt our members provlde young people has never been needed more and the challenges faclng young people today are often dauntlng In thelr depth and complexity. But th18 year has shown the tanglble .dlfference we can make when we work together. As we conllnue to bulld momentum, we all - young people, members and Youth Access - remaln commlttee to our mlsslon: en8urlng every young person has 8cce8S to the support they need to thylve. Dan Mobbs Cassandra Harrison Pago 2
YOUTH ACCESS (REGisfKRKD NUMBER: 02967126) R¢port of IheTrustee4 for lh¢ year ended 31 Mareh 2024 Trustees, report The trustees who are also directors of the charlty for the purposes of the Companles Act 2006, present their report with the flnanclal statements of the charity for the year ended 31 March 2024. The trustees have adopted the provlslons of Accounting and Reportlng by Charltles.. Statement of Recommended Practice applicable to charltles preparlng their accounts In accordance with the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102) (effectlve 1 January 2019). ijiir vis101I Our v181on Is that all young people can access free support on Ihelrjourney Into adulthood from communlty-based advlce and counselllng Servlces that respect thelr rlghts and meet thelr Indlvldu81 needs. Oiir values Bold We are progresslve In our thlnklng and courageous In our challenge of the 8yStem. We take a rlghts-based approach and are commltted to dlsmantllng Inequalltles In soclety. We trust In the power of young people's Ilved experlence and passlonately champlon the 8UPPOrt our members provlde to meet young people's needs and righls. Collaboratlve We achleve our goals arm-ln-arm wlth others. Worklng alongslde young people and our network of member8 across the country, we are a powerful collectlve advocaiing for change. We brlng thls unlque contrlbutlon and Inslght to collaboratlons wlth partners across the youlh, mental health, and advlce sectors. Responslve We are drlven by the vlews of young people and our members, the evldence, and knowledge from practlce, As these change, so do our approaches. We are tenaclous but adapt our methods to the external environment to maxlmlse opportunltles to achleve our vlslon. st:'ateglc (Iocil The 2023/24 year marked the second year of our 2022-27 strategy. We focused on bulldlng upon the foundatlons establlshed In the prevlous year to realise our vlslon: Ihat all young people can access free support on thelr journey Into adulthood from communlty-based advlce and counselllng services that respect thelr rights and meet thelr Indlvldual needs. Increaslng acee33 Young people can access YIACS wlth sufflclent capaclty. Drlvlng equlty YIACS engage with and access more young people from worst-served groups. Page 3
YOUTH ACCESS (REGISTERED NUMBER: 02967120) Report of theTrust¢ ror the y¢•r tndeil 31 MaY¢h 2024 Improvlng experlence YIACS are deslgned and run effectively accordlng to evidence, good practlce and young people's voices. Our full strategy and theory of change are avallable on our webslte. The strategy is underplnned by a theory of change wlth an allgned monltorlng and evaluation framework. We contlnue to develop our capacity and capabillty to measure the Impact of our work, as demonstrated by the publicatlon of our flrst-ever Impact and Learnlng report thls year. Achievements and performance highlights r)cro.*?%liiq acce%. Worklng wlth young people Thls year, we contlnued to develop our new approach to worklng wlth young people through members to empower more young people to lead the changes they want to see In the youth mental health system and beyond. Drawlng on the recommendatlons from 8 soclal actlon consultatlon and a pllot project wlth the Young Person's Advlsory Servlce (YPAS) Liverpool to produce a blueprlnt of practlcal tools and resources, we have developed a step-by-step campalgn facllltatlon gulde and onllne resource for members and young people to lead change. These resources form the foundatlons for a new approach to supportlng members and the young people they work wlth, helping Ihem to develop the skllls and confidence needed to leed local and natlonal-level campalgns. General electlon Thls year, ahead of the General Electlon we developed a collecllve manlfesto, to ensure that the issues Impactlng young people's Ilves are on the agenda for the upcomlng election. In partnershlp wlth No5 Young People, we worked wlth two Young Advisors to co-develop the manlfesto through a programme of actlvltles over 10 weeks, Includlng consultatlons wllh member servlces end the young people they work wlth. The manifesto wlll be Ihe plllar of our Influenclng work alongslde members durlng the electlon period, 'I'm taking away the knowledge of what a lot of young people are going through nowadays and also what help and support they are looking for, whlch I can use In my role as an ambassador.. Young Advlsor PABO 4
YOUTH ACCESS {RKGisfERED NUMBER: 02967126) Report of iht Truitees for th¢ year ended 31 Moreh 2024 We also supported members to Improve young people's democratlc engagement. In a workshop with the Poliiics Project, we dlscussed educatlng young people about their rlght to vote and the votlng process, along with activities to help them explore their values and share thelr volces. 100*0 of attendees took away learning from the sesslon that will help them in their own work. We also launched an Electlon Hub to provlde members wlth a one-stop shop of relevant events, weblnars anduseful resources to support voter reglslratlon and democratlc engagement. Fund the Hubs This year, the collaboratlve Fund the Hubs campalgn was Integral to securlng fundlng from the Department for Health and Soclal Care of approxlmately £7 mllllon to support Interventlons at 24 exlstlng community-based servlces In England. The funding comes after years of campalgning a8 part of the Fund the hubs partnershlp and recognlses Ihe vital work that servlces our members and slmllar servlces provlde for young people, Bulldlng on thls success, we submltted 8 Joint response to the Sprlng Budget 2024, calllng for a nationwlde Implementatlon of the early support hubs (YIACS) model that ensures that young people In every area across England can ace@88 mental health support and advlce. Our cross-party engagement has led to wldespread recognltlon of the need for communlty-based mental health support for young people. Loeal Influenclng Thls year we launched our local Influenclng programme, whlch alms to bulld members, skllls and confldence to Influence change In thelr local areas In the Interests of young people and our member organlsatlons, The programme Included onllne learning sesslons, whlch were attended by 52 members and a four-month actlon learnlng set for 5 members who focused on thelr local strateglc problems and recelved bespoke support, We utlllsed the Inslghts from the dlfferent actlvltles over the year to produce a library of resources and a podcast to further support members In this area. Di iiiiiiy equily Equlty Scoplng reports In order to better understand whlch groups of young people remain under-served and the barrlers they face, and how YIACS and other servlces can ensure more equitable access, we conducted a scoplng revlew. Drawlng on knowledge and expertlse from our member network and speciallst servlces, we shared speclflc flndlngs In addresslng Inequlty In servlce provlslon for the followlng young people: Black young people and young people from raclallsed communltles Gypsy, Roma and Traveller young people Refugee and a8ylum-seeklng young people Trans and gender-dlverse young people Deaf young people Page S
YoirrH ACCESS (REGisfERKD NUMBER: 02967126) R¢pDrt of the Trusttej for the y¢ar ended 31 Nlarch 2024 As we progress Into the next phase, we wlll build on thls initial scoplng to Identlfy further opportunities for shared and collaboratlve learnlng and to develop meanlngful partnershlps. Guldlng prlnclples Thls year, we collaborated wlth young people from various member and speclallst organlsatlons to Co-develop a set of guldlng prlnclples for youth-led social action that Is inclusive and Impactful for young people from diverse walks of Ilfe. We focused on learnlng from and worklng wlth the worst-served and least-heaid communltles to ensure that equlty and partlclpatlon are Integral components of the process and outcome. "We understand the issues faced by our peers better than anyone, we are well connected into our communlty, we have skills, Insights and ideas that older adults won't have, and most of all we have the passlon to drive changel. Young person We plan to publlsh the guldlng prlnclples resources and brlng members and sector organlsatlons together In the process to discuss how they can be 8ucce88fully embedded. Iiijpi nvirig expo.rleiicÉ., Member meet We held our flrst In-per80n event slnce the pandemlc thls Autumn, brlnglng members together In London. Members were Jolned by guest speaker Kelda Wood for an Insplraiional presentatlon before enjoylng a day of valuable dlscu881ons wlth 81mllar organls8tlons, Members found Ihe event useful for both problem-solvlng and networklng and 95% of attendees sald they would recommend the event. Network groups Thanks to posltlve member feedback, we have contlnued to grow our network offerlng thls year and now offer an Evaluatlon Network, a Counselllng Network and an Advlce Network In addltlon to the CEO Network. The networks offer a flexlble and Informal space In which to connect wlth colleagues In 81mllar roles from other organlsatlons. Feedback from our Evaluatlon Network highlighted that belng 'part of a communltl was beneflclal for 'sharlng Issues,, whlle colleagues attendlng the CEO Network sald 'lt Is In81ghtful to hear from others, and that 'lt18 good to know you're not In It alone,. Networks al80 allow us as an organls8tlon to keep In touch wlth our members. The range of inslghts and challenges raised In our networks help gulde our Ihlnklng and declslon-maklng In many other areas. We plan to expand our network olferlng further wlth a Communlcatlons Network next year. Poge 6
YOUTH ACCESS (REGISTERED NUMBER: 02967126) Report of the Trustees for the year ended 31 M&rch 2024 Youth researcher group As part of the Our Minds Our Future programme, we launched a new project this year to train a group of young people as researchers. The young people involved received expert training and conducted semi-stiuctured interviews with partners involved in delivering the programme. The feedback we received from the young people involved was overwhelmingly positive. 'Working as part of the young researcher group has been really empowering - it's been so interesting working on the project, learning research skills and interviewing staff that worked on the project. It's shown me a different side of the project and shown its true impact. and meeting other young people who were Involved from different nations has been pretty cool too!. Young person Financial review The annual financial statements are attached to this report. These have been prepared In accordance with the policies summarised on pages17 to 91. There was a surplus from all activities of £50,523 (2023: deficit of £129,457) on total incoming resources of £439,504 (2023: £407,053, excluding profit on sale of property). There was an unrealised increase in the value of the investments of £74,323, bringing the surplus for the year up to £124,846. Income and fundralslng The bulk of Youth Access, income this year Is from trusts and foundations, with a combination of restricted and unrestricted grants from existing supporters. Investment income was generated during the year totalling £29,576 (2023 £6,662) largely relating to the investment of the proceeds from the property sale in 2022/23. These were Initially invested In a deposlt account whllst the Board undertook a competitive process to appoint investment managers. During the year CCLA were appolnted and £646,000 of the original funds were transferred to CCLA funds in line with Youth Access, investment pollcy. We continue to generate a small amount of Income from membership subscriptions. Expendlture Total expenditure in the year was £388,981, a decrease of 27°l on the previous year's expenditure. Our support costs were £24,623. Expenditure on raising funds totalled £21,350. Staff costs represent 60% of total expenditure, totalling £232,605. Reserves levels and reserves policy The reserves reflect amounts of incoming resources for the current and prior perlods not yet spent. For the 2023/24 budgetary period, the Board of Trustees has examined the charity's requirements for reserves in light of the main risks to the organisation. The target for the level of unrestricted funds not committed or invested in tangible fixed assets held by the charity is 3 months. running costs in addition to the costs of winding up the charity based on the 2023/24 budget. This target is £227,362. Page 7
YOUTH ACCESS (REGISTERED NUMBER: 02967126) Report of the Trustees for the year euded JI Marcb 2024 In order to provide a quality, effective and efficient service to its beneficiaries the trustees have set a reserves level that, in the event of funding not being sufficient to cover expenses In the future, wlll enable a smooth transition to a lower level of service. The Board also recognlses that holdlng an excesslve level of reserves can limlt the amount spent on charitable activities, thereby reducing the potential benefits the charity can provide. Desi na In the year 2023124, £28,635 of expenditure was from the income generation and fundraising fund. This supported the organisation with operational fundraising capaclty, such as research and bid-writing, as well as external expertise on organisation-wide strategy. At its September 2024 meeting, the Board agreed to designate an additional £175,000 to the Income generation and fundraising fund, and to change the name of the designated funds to Strategic development fund to better reflect its broader agreed purpose. Strateglc development fund: Investment for the future The strategic development fund deploys reserves above target, enabling Youth Access to better deliver our strategy and meet our charitable objects, while strengthening our financial sustalnablllty. The core strand of thls work is the development of a capaclty-bullding programme for services, which will increase young people's access to consistent, hlgh-quallty, and Impactful support. This work will build on and complement our policy and campaigns success in securing widespread recognltlon for youth advlce and counselllng services. The fund wlll also support the organlsation wlth Income generatlon and development capacity. The designated funds are therefore: £646,174 deslgnated for flnancial Investment to generate unrestrlcted income, In Ilne with Youth Access, investment policy statement, to support organisational sustainability. At March 2024, there was an unrealised increase in the value of the investments of £74,323, taking the total to £720,497. £236,365 deslgnated for the strategic development of the organisation. The charity has iotal funds at the year end of £1.219,181 (2023". £1,094,335) of which £1,219,181 (2023". £1,093,289) are general unrestricted. The charity has free reserves not committed or invested in tangible fixed assets of £262,319 Page 8
YOUTH ACCESS (REGisfERED NUMBER: 02967126) R¢pDrt of the Trust¢ for the year ended 31 Mireb 2024 Golng concem Having taken Into account Ihls and all of the avallable Informatlon about the future, whlch Is at least but not Ilmlted to 12 months from the date when the financial statements are authorised for Issue, the trustees have concluded there are no material uncertainties that call Into doubt Youth Access, ablllty to contlnue In operatlon for the foreseeable luture. The charlty therefore contlnues to adopt the golng concem basls In preparing Its flnanclal statement8. -ttr.'rence and adriilnistf 1l1iiJE= di.,l.iil. Company reglstered number 02967126 Charlty reglstered number 1042121 Registered office Nlghtlngale House 4648 East Street Ep8om KT171HQ Sti'ucturei lJi)vr.,11 lijl Ict,. aifd Iriril I,'IIJLAI) Itjiii Management The Board delegates responslblllty for the day-to-day management Youth Access to our Chlef Executlve Cassandra Harrlson, who Is responslble for dellverlng the agreed strategy and ensurlng the charlty adheres to Its pollcles. The Board (Trustees) Daniel Mobbs, Chair (from Aprll 2023) Olessla Wlllyblro, Chalr of the Flnance, Audlt & Rlsk Commlttee Sally Benton, Trustee Charlotte Flnlay (prevlously Dobson). Trustee Charles Martln, Trustee Charles Taylor, Trustee Vimbal Dzlmwasha, Trustee (appolnted June 2023) John Parkln, Trustee (appolnted June 2023) Rosalind Arscott, Trustee (appointed June 2023) P4e9
YOUTH ACCESS (REGisfERED NUMBKR: 02967126) Reporl of Ilie TruJt¢os for th¢ ye*r end¢d 31 Mareh 2024 The Board The Board of Trustees is responsible for the strategSc governance of the charlty. In the year endlng 31 March 2023. Ihe number of Trustees servlng on the Board was seven. The Board of Trustees meets a mlnlmum of four tlmes a year and Is responsible for settlng our overall strategy. At each meetlng the Board recelves wrltten reports on all aspects of our work. Dlversity and skllls audits were carrled out for Ihe Board in this flnanclal year. The gaps identlfled wlll Inform the recrultment of new trustees durlng 2022123. Flnance, Audlt & Rlsk Commlttee The Board deleg8te8 certaln areas of governance to the Flnance, Audlt and Rlsk Commlttee. The role of the Committee Is to ensure that Youth Access manages Its flnances and rlsks effectlvely and efflclenlly In 8UPPOrt of Its charltable objectlves. The Commlttee Is responslble for: Flnance Ensure the affordablllty and flnanclal 8UStalnablllty of Youth Access, charltable actlvltles. Oversee Ihe budget process, Includlng scwtlny of the annual budget and making recommendatlons to the Board regardlng approval, Monltor and revlew performance agalnst budget, Includlng scrlrtlny of management accounts and to advlse the Board on progress and any actlon requlred. Oversee and revlew reseive8 pollcy and management of reserves. Oversee flnanclal pollcles and the flnanclal control framework. Independent Examlnatlon Review the Annual Report and Account8 and make recommendatlons to the Board regarding approval. Oversee the process for selectlng the Independent examlner and make approprlate recommendatlons to the Board. Seek assurance on the planned actlvlty, results, effectlveness, and cost of the external audltors. Oversee the adequacy and tlmellness of the Executlve's response to18sues Identlfled by audlt actlvlty, Includlng the external auditors, management letter. Revlew the flndlngs of the independent examlnation and dlscuss any major Issues whlch arise, any accouniing Judgements and levels of error identifled. Pag¢ JO
YOUTH ACCE&S (REGisfERED NUMBER: 02967126) Report ofihe Trn$ttts for 1heyreDded3I Mgreh 2024 Rlsk Oversee the development, malntenance and implementatlon of rlsk management pollcles and processes, to ensure the effectlve management of rlsk at the appropriate level. Advise the Board on the overall risk appetlte, and the principal and emerging risks. Adv18e the Board on the rlsk aspects of proposed changes to strategy and plans. Promote a culture of risk awareness and accountablllty." ensurlng an awareness by Youth Access staff of rlsks and equlpplng them wlth the skllls and tools they need to manage rlsk effectlv81y. Revlew the rlsk reglster prlor to dlscusslon at the Board, to ensure that key strateglc rlsks are correctly recorded on the reglster, taklng account of thelr probablllty and Impact; and that there Is clear accountablllty for agreed mltlgatlons. Monltor delivery of agreed mltlgatlons and regularly conslder emerglng rlsks for escalatlon to the rlsk regSster. Monltor complalnts and whlstleblowlng reported Incldenis, evaluate trends In reported Incldents and approve proposal8 for further Investlgatlon or actlon. The Commlltee comprlses three trustees. They meét at least slx tlmes per year wlth the Chlef Executlve and senlor members of staff. Statement of trustees, responslbilltles The trustees (who are also the Dlrector8 of the Company for the purposes of company law) are responslble for preparlng the trustees. report and the flnanclal statements In accordance wlth appllcable law and Unlted Klngdom Accountlng Standards (Unlted Klngdom Generally Accepted Accountlng Practlce). Company law requires the Trustees to prepare flnanclal statements for each flnanclal year. Under company law, the Trustees must not approve the flnanclal statements unless they are satlsfled that they glve a true and falr vlew. Pag¢ 11
YOUTH ACCESS (REGISTERED NUMBER: 02967126) Report of Ilie Trnst¢es for the year ¢ttded 31 Mareh 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charlty Is controlled by its governlng document, a deed of trust, and constitutes a limlted company, limlted by guarantee, as deflned bythe Companles Act 2006, REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 02967126 (England and Wales) Reglstered Charlty number 1042121 Reglstered offlce Nlghtingale House 46- 48 East Street Epsom KT171HQ Trustees Ms S J Benton Ms C L Flnlay C T Martln D P Mobbs C L Taylor Ms O Wlllyblro Ms V Dzlmwasha (appolnted 22.6.23) J R Parkln (appolnted 22.6.23) Mrs R Arscott (appolnted 22.6.23) Company Secretary Ms C Harrlson Independent Examlner H8zel Day Bsc (Hons) FCA DChA Xelnadln Nlghtlngale House 46-48 East Street Epsom Surrey KT171HQ Approved by order of the board of trustees on Its behalf by: and slgned on D P Mobbs - Trustee Pag¢ 12
Ind¢p¢nd¢nt ExHmlner'$ Report to ib¢ Trustees of Youih A¢¢es9 (Reglstered Dumb¢r: 02967126) Independent ¢x8mln¢r'g report to Ihe I$¢¢e• of Youth Aceesi (liht Compgny,) I report to the charlty trusle¢s on my examination of th¢ aUnts of iho Company for ihe yehr ended 31 Mawh 2024. RespoDslbllltlè$ and ba81$ of report A$ iha ¢harity'$ trustce5 of the Company (and also its directors for the pvrpos¢s of company law) you 8re responsible for th¢ prepar&tion of the A¢¢ounls in a¢cordan¢è with Iho requirements of the Comp1¢$ A 2006 ('the 2006 Act.). Havlng satisfied myself that the accounts of ihe Coinpany Ar¢ nol required lo b¢ audited under Part 16 of lh¢ 2006 Act and ar¢ eligible for independenl examinalion, I report in respect of my examinotlon of your charity's accounts as carried out under Seclion 145 of the Cliarliies A¢1 2011 (Ihe 2011 Act'>. In carrylng out my ¢xamin8tlon I have followed the Dlr¢clions given by the Charity Commission under Se¢lion 145(5) (b) of the 2011 Act. Independent oxamln¢r's 8tAtement Slnce your chArity's 8TQSS incomo tx¢¢¢ded £250.1)00 your examiner must be a memb¢r of a lisled body, I can wnfinn that l am qualified lo undertake the exRniinalion becau I hm a member of the Inslitul¢ of Chartered AOUn¢4nts In En81ond and Wa1¢8. wlii¢h 1$ on¢ of th¢ li$tsd bodi¢s. I have completed my ¢xaminalion. I confimi thal no mallerd hav¢ rA)m¢ lo my att¢nilon in ¢onneclion wilh the ¢xamin&lion 8lvin8 m¢ u$¢ lo b¢11¢. accounllng records were not k¢p¢ in re$pe¢l of tho CompAny as required by S¢¢ilon 386 of the 2006 A¢1; or Ihe accoun1$ do not accord with Iho$¢ records; or the 8¢¢ounts do nol comply with Ihe accouniln8 requiremonts of Secilon 396 of tho 2006 Act other than any requirenient that the 8¢¢0unts 8lv¢ a ¢ni¢ and falr vi¢w which Is not a n)alt¢r consid¢T¢d as part of an Independeiil examlnfition; or the a¢Unts have not been prtpared In aordc¥ with ihe inethods It princlpl¢$ of tha Sial¢m¢nl of R¢¢ommettded PrnCIl for aecounlin8 and r¢porting by chviiles (appli¢abl¢ to charitle$ prepArin8 Iholr a¢¢ounts In a¢cordan¢o wlth tho Flnanciol R•portin8 Standwd appli¢abl¢ In th¢ UK and R•publl¢ of Jrnland (FRS 102)). I hay¢ no concerns and liaY¢ me a¢ross no olh¢r mall¢rs In {%)nnlIOn wllh Iho ¢xamlnailon lo whlch attenilon should b¢ drawn in this report in ordor io ¢nabl¢ a proper und¢rslandin8 of th¢ aOunt$ to be r¢a¢hed. Hazel Day Bsc (Hoiis) FCA DChA Th¢ Jn$lilule of Cliartered Aecountsnts in England and Wal¢s Xeinadin NiBhiin8ale Houso 46-48 East Sireel Epsom Sutr¢y KT17 IHQ Pa8e 13
YOUTH ACCKSS Statement of Flngn¢lil AetiYSde8 for ¢ht year ¢nded 31 Mireh 2024 2024 Total funds 2023 Total nds Unreslri¢t¢d nd$ Restrictcd funds INCOME AND KNDOWMENTS FROM Donallons and le8acies S8.183 346.665 404,848 395.955 Other IradinB tIvItI08 Investmenl income Other incom¢ 4,980 29,576 loo 4.980 29,576 4,406 6,662 585 664 346 665 439 $04 992717 EXPENDITURE ON ChArltsbl¢ Rellvltl Charllable aclivitie$ 41 347711 388981 536510 Net 8alns on Inve8tm¢tslJ NET INCOMEI(KXPFNDITURE) 125.892 (1,046) 124,846 456,207 RECONCILIATION OF FUNDS Tolal funds broughi forward 1,093,289 1.046 1.094,335 638,J28 TOTAL FUNDS CARRIED FORWARD 1219 181 1219 181 094 335 The not¢s forni part of ihe5¢ financial stalements Pag¢ l4
YOUTH ACCESS (REGisfERED NUMBER: 02967126) B¥l•n¢e Sheet 31 Mireh 2024 2024 Total funds 2023 Tolal nds Unrestricted nds Restricied funds Notes FIXED A&SEI3 Tgnglbl¢ assets lnV¢m¢ntS 427 427 720 32J 1.180 12 720,750 720.750 1,180 CURRENT ASSETS Debr$ Co8h ai bank and ID hand 13 10,463 671601 10.463 710 768 1.313 1301899 682.064 39.167 721,231 1,303,212 CREDITORS Amounts falllng du¢ wlthln on¢ year 14 (183,633) (39,167) (222,800) (210,057) NET CURRENT ASSETS 498 431 498431 1093 155 TOTAL ASSETS LESS CURRENT LIABILITIES 1,219,181 1,219.181 1.094.335 NET ASSETS 1219 181 219 181 1094 335 FUNDS Unrestri¢t¢d thllds Re51ricld ndS ,219,181 ,093,289 TOTAL FUNDS 1219 181 094 335 Th¢ chAritable company is entitled lo exemption from audit under Se¢t(on 477 orth¢ Companies Acl 2006 for the ye9r ended 31 March 2024. The members h8v¢ not Tequired th¢ Company trj obtain an audil of Its finanolal statements for Ihe year ended 31 Mar¢h 2024 in acwrdAnc• with Se¢tion 476 of th¢ Coinpanle$ A¢12006. Th¢ tru$t¢es a¢knowled8e their rtsponsibilili¢s for (a) ensuring that tlie cbttrilable compAny kee aco)uiitln8 rettsrdj that eomply with Se¢tlons 386 and 387 of the Companles Act 2006 and (b) prepArin8 finaftelal stot¢m¢nls which 8ive a Inie and fair view ofthe slAte of affain of th¢ chAritAble company at the end of each financial year and of its surplus or deficil for ch financial year in accordance with the requirements of SlI0ns 394 8nd 395 and whi¢h otherwlse comply with the Tequlrements of lh¢ Companies A¢1 2006 r¢l8ilng lo financial stotements, x) far 8pplicabl¢ ih¢ ¢harilabl¢ ¢ompiny. The notes fomi port of ih¢s¢ fInala1 slalem¢nts P8ge 15 continu¢d...
YoirrH ACCESS IREGISTERED NUMBER: 02967126) Balante Sh¢rt- eontlnued 31 Mitth 2024 These financlal slAt¢menls have been prepared kn ftee0rd¢e with th< PTovision$ applicable to charitoblc compbiiles subject lo the small ¢oinp4ni¢s r¢gim¢. The fin8n¢ial stfttemvnls were 8pproYed by the Board of Thfee5 and authorised for lysue on . and were signed on its behalf by: D P Mobbs- Trustee The not¢s forni part of these finan¢ial statemenls Page 16
YOiH ACCKSS Notes to Ihe Flnanelal stateme1$ ror Ihe ye*Y ended 31 Mareh 2024 GENKRAL JNFORMATION The Company 1$ limited by 8uarantee. The members of the LMpanY are the Trnstees namc5 on page l. In Ilie evenl of the company being woiind up the liability in respect of the gtsafante¢ 1$ limited to £1 pet member of the Compony. ACCOUI4TING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENIS Th¢ financial stAlemen18 of the charitable c4)mpany. whi¢h is a public benefil entity under FRS 102, hav¢ been prepared in acwrdanc¢ wilh the Char&lie9 SORP (FRS 102)'Accounling and Reportln8 by Chhritle$: Statement of Recornmended Prnctico applicable io charities preparing their accounts ijj 8ccordan¢e with Ihe Finftiicial Reportln8 Standard applicable in Ihe UK and Republic of Ireland (FRS 102) (effective l January 2019),. Financial Reporting Standard 102 Th¢ Financial Reporting Slandard appllcAble in the UK and Republic or Ir¢l8lld' and the Companies A¢1 2006. Th¢ finall¢iAI statements hAve bcen PrepC uiide¥ lh¢ Iiislorical co$¢ iiveniion, with Ihe excepiion of it)veslmen19 whi¢h 8r¢ included At market value. as modifled by the r¢valua¢ion of ¢¢In 8s3¢ts. Youth Afxe95 m¢ets tho d¢flnltion of a publi¢ benefit entity under FRS 102. AJ$ets wid liabilities gr¢ inltially recognised as historical wst or transacllon valu• unle89 othenvi$e lled In th• r¢l¢vant accoun¢in8 poll¢y. INCOME All Income 15 recognlsed In the Siatemeni of Flnan¢ial Actlvltle$ once the ¢harlty has ¢ntlll¢meTrt lo th¢ fynds, It is probable that the income will be received and th¢ amount can b¢ mehsur¢d reliably. Oranls arc includcd in thc slalcmcni of financial activili¢5 on a r¢¢¢ivablc basis. The balance of Income received for specific PUrle but not ¢xpended durin8 the perlod 1$ shown in the relevant funds on th¢ balance sh¢¢l. Where inLX)m¢ is r¢c¢ived In adVfjn of enliil¢m¢nt of re¢eipi. Its r¢cognilion is defeTr¢d Hnd included In creditors os d¢ferred Incom¢. Wh¢r¢ ¢nlltlem¢nl b¢for¢ Incom¢ l¥ re5V, lh¢ Inwmc Is ac¢ru¢d, Income thx r¢cov¢rnble it) r¢lAtion to inves(menl income is reco8tllsed at th¢ lime lh¢ investsn¢nt 5nwme 18 r¢eeivbble. Oth¢r In¢om¢ 18 regnISed in the period In whl¢h It 1$ recelvabl¢ and to the oxtent the Bl)ods h&ve been provld¢d or on wmpl¢llon of the $crvic•. EXPENDITURE Expendlture is recognised onc¢ there is a le841 or cOnstntiv¢ obli8a11c to transfer economlc benefit to a ihird p8rty, It Is probabl¢ Ihol a tr&nsf¢r of ¢eonomi¢ ben¢f¥ls will be required in sottlemenl and Ihe amount of Ilie obligallon Can b¢ measured rellably. Expenditurè is classified by activity. The eosis of each aclivity or¢ mftd¢ vp of the t0181 of dIt costs atid sliared cost$, Sncluding support costs Involv In undertakin8 each aclivity. Dlrerl osts •ttrlbutabl¢ lo a sin8le acilvily are ftllocdled dire¢ily to Ihal activity. Shared ¢os1s wlii¢li wnllibute lo Jiior¢ than on¢ ftctivity and 811PPOrt costs whicli are not 8ttribuloble io a sin81¢ activity are apportioned between those ac¢iviiles on h basis wnsislenl wllh the use of resourtts. Centrnl $¢aff costs are allocat on th¢ basls of tim¢ sp¢nL and depff¢iatlon ¢haryes allocated on lh¢ portion of ihe asJeV• u8¢. Expendilur¢ on ¢haritable actlvltles is incurred on dlnetly und¢rtakin8 the activiiles which further the Comp8ny's obJecliv•s, as well as any associaled support sts. All expendlture Is inclusive of I¢tOyAbl9 VAT. TANGIBLE FIXED ASSETS All asse15 Costing below £100 are not ¢apil8lised A revi¢w for impairnient of a fixed assel is ¢8rried out if evenl$ or changes in circumstsn¢es indicate tlial the ¢8rryin8 value of any fix¢d 8s$et MRY not be recoverable. Shortfall$ betw¢¢n th¢ CAryiD8 value of fixed asset$ and iheir t¢¢ov¢rnbl¢ ainouiils are rew8nised as impaimients. tmpaimi¢nt losses 8r¢ Tccognised in Ihe Statement of financial activities incorporalin8 income And ¢xpenditvro account. Page 17 continued...
YoirrH ACCESS Nolej éo the Fln*ndAI Statements- cDDllnued for th¢yeirended31 March 2024 ACCOUNTING POLICIES- contlnued TANGIBLE FIXED A&SETS Tan8ibl¢ fixed assets ar¢ rartied at Lx>st. net of depreciolion ond ony provislon for impalmienl, Depre¢iatioJ) Is provided Rt rates calculated to write off the cost of the fixed Rs5ets, less their eslimaied residual valiie, ov¢r iheir expe¢led iiseful lives on the following bm: Long-t¢m leasehold property - Over SO years Leasehold addilion8 -over ISy¢a Plxfvres and fittings - Over 5 years Offirx equipm¢nt - Over 3 yeaTS TAXATION Tho charity 18 ¢xompt from corporallon tttx on its ¢haril8bl¢ a¢¢ivtlios. FUND ACCOUNTING Unr¢stri¢led lld$ can be used In aceordancc with the charitable objectives at the discretion of tho lrnstees. De$i8tiated lld$ mpliS uiirn$trlcled funds that have b¢en set aside by Ihe Trugt¢¢s in furth¢Mn¢¢ of ihe general obj¢¢lives of the Company and which have not bettt doslgnaied for other purpos¢$. Reslrl¢l¢d fiinds can only be used for p&rtlcular Testrlot¢d purposes within th¢ objecls of tlie chadty. Reslriclions arise when specified by the donor or when funds are rnl$¢d for parti¢iilar restrict¢d pun$¢$. Further explanailon of the nalure and purpos¢ of¢a¢h fund 18 included in the not¢$ to th¢ finaA¢iil 8lalemenl8. Inv¢stment incomep galn$ and losyes aro allo¢aied lo the ApPprIAte t)Jnd. PENSION cosrs AND OTHER POST-RETIREMENT BENEFITS Tlie ¢liaritabl¢ company oper81¢8 a defin¢d ¢ontribulion p¢n$ion s¢hem¢. Coiitribullon8 payible to lh¢ cliarilable company's penslon scheme are charged to Ihe Slalomenl of Financlal A¢livitles iii the period to whlcl) Ih•y T¢lftt¢. INTEREsf RECEIVABLE Inleresl on funds held on deposit Is Included when r¢ttivable and the n0t can be n)easured rellably by the Coinpany; Ilils Is nornially upon noiifl¢itlon of the Inter1 p#ld or pay#bl¢ by the Institution with whom the funds are depoyiled. DEBTORS Trade and olh¢r debtors ar¢ recognlsed •t the settlemenl wnoitht fifter atty Iride dls¢ount offered. Pr¢paymeiil$ ore v8liied al the Ainounl prepfiid nel of any trade di8COUt)l$ diie. CASH AT BANK AND IN HAND Cash at bfvnk 8lld in hand Includes c4$h and 8bort-t¢rni hi8hly Ilquid inveslments with a shorf mattirity of thre# months or less from th¢ dale of acquisilion or openlng of th¢ d¢p05il or similtsr a¢¢ount. LIABILITJES AND YHOVISIONS LiAbllities afe r¢¢ognised when there Is on oblisation at th¢ bAIAnro $h¢¢l date 45 a result of a past evonl, It Is probabl¢ that 8 Iransfer of economi¢ b¢n¢fit will Ix required in senlemenl, ond ihe amount of the settleinent can be estimated rellably. Lii¢bilittes are recognised al the aTnounl Ihat tlie Company aTrlicipal¢s it will pay to s¢ttl¢ the deiil or the amount il ha5 received &$ advanced payinent for the good or scrYiG¢5 it IllU5t provide. Provisions are measured at th¢ Ix5t tiMate of th¢ amounts requir¢d $tttle the obligation. Where the effect of tho time VAlue of inon¢y Is material, th¢ provision 18 b85ed on th¢ pres¢nt value of ih05e amoullls, dls¢L)wnted Al ¢b¢ pre-tax discount rale Ihal r¢flrKls the risks specific to lh¢ Ilabllity. The unwinding of tlir di5COlllIt is recognlscd In thc statcm¢nt of fioanGial activat as a finan ¢051. Pa8¢18 ¢onllnu¢d...
YoirrH ACCE&S Not¢J to the Flnlnclal Stsloments- contlnued for th¢ ye4Y tnded 31 Mr¢h 2024 ACCOUNTINC POLICIES- eontlnued INTEREST RECEIVABLE FINANCIAL INSTRUMENTS The Company only has financi818ssel$ ond financial liabilities of a kind ihat qualify as basic finan¢ial in$twm¢nls, Basi¢ finattcial inslrumenls ar¢ inilially reco8tti$ed at transactlon value tsnd subsequently mea$ured at thelr settlement value with the exc¢plion of bank loans whith arc subsequently m¢asiir¢ hl amortis¢d cosi u$ing th¢ ¢tIve interest method. DONATIONS AND LEGACIES 2024 2023 Donatlon$ Grants Consullan¢y fees 1.684 403.164 97 396,371 404 848 395 985 (lrnnts received, Included In Ihe abov4 ar¢ oj follows: 2024 2023 Olher granls 403 164 396371 OTHER TRADING AcfiviTIES 2024 2023 M¢mbershlp Fees INVESTMENT INCOME 2024 2023 Inl¢re$t received Other fixed 0ss¢t InvAt - FII 19.483 6,662 CHARITABLE AcfJviTIES COSTS Dlreol Cosls Support colts Totals Charlioble a¢iivili¢s 364 358 388 981 Paga 19 ¢ohtlnued...
YOUTH ACCESS Note4 to the FlnanclAI Statements- eontlnued for tht yeAr ¢nded 31 MArch 2024 NET INCOMEI(EXPENDITURE) Net Incon)eJ(expendituM) 1$ staled after chArgiW(crediling): 2024 2023 DepYeclation- owned assets Siirplus on dispo$tl of fixed assets Independent Examille fees 753 (ioo) 6,377 (585.664) TRUSTEES, REMUNERATION AND BKNKFITS There were no truste, remuneration or other benofits for th¢ y¢&r ended 31 Mah 2024 nor for the yeAr ended 31 March 2023. TRUSTEES, EXPENSES Durin8 the y¢ar, no twsltts r¢¢elv¢d any r¢muneration or other bonefits (2023 - £NIL) During the year ended 31$¢ M8r¢h 2024. no IN$¢¢¢ ¢xp¢n$¢s have been In¢u¢d (2023.. _ £NIL) STAFF COSTS The aveTa8¢ monthly number of employea8 durlng th year wa5 as follows: 2024 2023 Employfxs The number of ¢mployeey whos¢ employeo b¢n¢fits (¢x¢ludin8 ¢mploy¢r pension costs) ¢x¢eeded £60.000 wa8.. 2024 2023 £60,001 . £70,000 £70.ODI - £80.000 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AjvITIES (2023) Unr¢strlcted Restrioted nds rlidS Total funds INCOME AND ENDOWMENT8 FROM Donations and legacies 107.781 288,204 395,985 Other trading acliviti¢s Inveslinent inLX)nie Olher incom¢ 4,406 6,662 585 664 4,406 6,662 585 664 Totsl 288 204 992717 EXPKNDrruRE ON ChArltabl¢ actlvl¢ies Charitablo Aclivitics 173 012 363 498 536 510 NET INCOMEI(EXPENDITURE) 531,50t (75,294) 456.207 Page 20 continued,..
YOLryH ACCESS Notes to th¢ FlnAnciil Statemen(s- eontlnued foy the year ended 31 Marcb 2024 io. COMPARATIVES FOR THE ATEMENT OF FINANCIAL AcfivtTIES (2023) - contlnued Unr¢stn'¢t¢d Restricted funds funds To1 funds RECONCILIATION OF FUNDS Totsl funds brought fonvard 596,788 41.340 638.128 TOTAL FUNDS CARRIED FORWARD 1128 289 (33.954) 1094 335 11. TANGIBLE FIXED ASSETS Fixlur¢3 and rittings Compiil¢r equipmtnt Tolals cosr At l April 2023 and 31 March 2024 DEPRECIATION At l April 2023 Chary¢ for yoar 15.765 1.104 753 16,869 753 At 31 Mawh 2024 NET BOOK VALUE At 31 M8r¢h 2024 426 427 At 31 MaNh 2023 12. FIXED ASSET INVESTMENTS Listed inveslin¢lll3 MARKET VALUE Additions RcvAluation$ 646,000 At 31 Mah 2024 720 323 NET BOOK VALUE Al 31 Mah 2024 720 323 Ai 31 Mar¢h 2023 Th¢re were no investmen¢ 855¢1s outside th¢ UK. Page 21 continued...
YoirTH ACCESS No(es lo thp FlnAn¢lal Stt¢m¢nts- contlnued fot the yeAr endal 31 M•reh 2024 12. FIXED ASSET INVESTMENTS- eontinued Cost or valulLon at 31 PAar¢h 2024 is repres¢nt¢d by: Listed inveslm¢nt$ Valuation in 2024 Cost 74,323 646 000 720 323 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 VAT Pr¢paym¢nts and aKrue41 in¢omo 4,136 14. CREDITORS: AMOUNTS FALiJNG DUE WITHIN ONE YEAR 2024 2023 Trnde creditors Social seirIty and other taxes VAT Other credllors Accnials and def¢rr¢d income 11.133 6,137 43,523 5,671 4,062 1,305 155 496 1,369 204 161 222 800 210057 2023 2023 Deferred inwme at l ApTII 2022 Resource5 deferred during the ye8r Amounts rel¢ased from previous periods 141,847 200,412 141847 97,334 141,847 97 334) 200412 141847 Deferred inwnie rnlal¢s ¢0 mojiies re¢civ¢d on grts that span (ho year end. money is deferred lo ¢ov¢r the work lo be ¢Arried out by Ilie Chfirity in the followlng peAiQd. P8g8 22 Continued...
YOUTH ACCESS Notes eo the Finanel•l Ststoments- th)ntlnued ror the yur ¢nd¢d 31 Mftrfh 2024 Is. MOVEMENT JN FUNDS Nei ovemertt in funds Transf¢rs betwe¢n nd5 At 31.3.24 At 1.4.23 Unrestrleted funds General fund Investmenls Stratogic development (forn)eTiy Inc4)me 80neration and fundraigin8) 357,115 646,174 80,204 74,323 {175,000) 262,319 720,497 175000 236 365 1.093.289 125.892 1,219,181 ReJtrl¢¢ed fundg Unlvenity Collo80 London 1.046 (1,046) TOTAL FUNDS 1094 335 1219 181 Net movement in thnd5, in¢lud¢d in the abové are as follow$'. Incomin8 R¢sour¢¢s r¢sourcos expended Gains and Ios$¢g Movem¢nl In ndS UDr¢strleted G¢neral fvnd Inveslmenls Strnte8ic dev¢lopment (fomierly Tn¢4)m¢ 8en¢ralion aad fundraisin8) 91839 (J2,635) 80.204 74,323 74.323 28 635) 92,839 (41,270) 74.323 Res¢rlcted fund$ Unlver81ty Colle8¢ London BIB Lottory Prnden¢¢ Trusl The AIM Found&tion 125,892 {1,046) (266,665) (50,000) (1.046) 266,665 50,000 346 665 3477Jl TOTAL FUNDS 439 504 388 981) 124 846 Pa8¢ 23 continued..,
YOUTH ACCESS Nolu to th• Flnanclal Sta¢emnts- eontinued ror the y¢ar eDd¢d 31 March 2024 15. MOVEMENT IN FUNDS- eontlnued ConipRratlve8 for movement In full Net mov¢menl in funds Transfers between funds At 31.3.23 Ai 1.4.22 Unrestricted fund Genernl fund Investhiefits Strate81¢ development (fomierly Income g¢n¢ralion and fundrnisin8) 596,788 496.501 (736.174) 646,174 357,115 646,174 596,788 496,501 1,093,289 Rutrlcted funds University Coll¢8¢ Illdon Bl8 Lott¢ry Globftl Dlftlo8ue L151ening rtd 1,046 38,538 1,341 408 1.046 (38,538) (1,348) 408 I'OTAL FUNDS 638 128 456 207 1094 335 Comparatlve nat movemenl In fvnd& included In the al¢ are &8 follows: In0)1118 sour¢ Resourees ¢xp¢nded MovrAn¢nt In thnd8 Unre4trlcted funds General fund 669,513 (173.012) 496,501 Re5trleted funds Big Lottery Paul Hnmlyn FoiindAtlon Global Di8108ue Li¥l¢nlnB fund Youth Futures Foundation The Fidelity UK FoUnd10Th 265,704 22,500 (304,242) (22,500) (1,348) (408) (15,000) 20 000) (38,538) (1,348) (408) 15,000 323 204 36J 498> TOTAL FUNDS 992717 536510 456 207 RESTR[ED FUNDS NAtlon41 ttery Commvnlty Fund (BIE Lottery) The funds lo d¢v¢lop young person ceiitred ni¢n¢al h¢allh provlsioii a¢ross the UK, The Listenlng Fund The funds 5UPPOrt th¢ development of a scheme aimed at improving Ihe quality of person-exntred mel)181 heftlih s¢rvi¢es through respondiiig lo young p¢ople's feedback. Paul llamlyn Founditlon Tjie funds support Youth Ac¢e55' IVI)Tk lo stren8then its engagem¢nt with m¢nibers and yoiinB people. P88¢ 24 conllnued...
YOUTH ACCESS Notes lo th¢ FIDinel81 Ststem¢n(J- contlnued foy the year ended 31 March 2024 15. MOVEMENT IN FUNDS- ¢ontlnued Global Dl8logu¢- Thom*$ Pglne knltlatlve FndIng to take forward SPlf1¢ elem¢Dls of MORR. Unlver81ty Coll¢g¢ London Th¢ funds supported engag¢ment of youn8 people and Youth Ac¢e8s rncmbers in research on young per8on.c¢nlred h¢1h models. 16. RELATLD PARTY DISCLOSURES The Company Ilas not ent¢r¢d Inlo any related party transaclions during th¢ year, nor aro there any oul8landin8 balan3 owing betwe¢n related PArties 8nd the Cojnpany 31 Mar¢h 2024, Pag¢ 25