**Charity registration number 1050465**
**Company registration number 3118882 (England and Wales)**
## **YOUTH EXPERIENCE IN SPORT**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
## **YOUTH EXPERIENCE IN SPORT**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** F G Shearer A G Mallin M A B Weston D H M Macdonald F Bray H Cho A M Mallin **Charity number** 1050465 **Company number** 3118882 **Registered office** c/o Star Capital Partners 33 Cavendish Square 15th floor London W1G 0PW **Independent examiner** Thomas Quinn The Station House 15 Station Road St Ives Cambridgeshire PE27 5BH
## **YOUTH EXPERIENCE IN SPORT**
## **CONTENTS**
||**Page**|
|---|---|
|Chairman's statement|1|
|Trustees' report|2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 10|
## **YOUTH EXPERIENCE IN SPORT**
## **CHAIRMAN'S STATEMENT** _**FOR THE YEAR ENDED 31 JULY 2023**_
## **Aims & Objectives**
This year has seen us continue and deepen our support for our existing beneficiaries while endeavouring to increase the volume of that support and to assure our own sustainability. We were able to increase the volume of support from donors by half over last year, a very satisfactory outcome.
## **How we deliver public benefit**
We deliver public benefit through our young people as they develop their skills ‘on and off the pitch’, while achieving successful results in competitions. Our YES Ambassadors are good examples as they work through tasks which will support their move from school to further studies and careers. We continue to support top quality coaches and managers who have a particular ability to engage the young people from their local communities with regular sport that occupies and provides focus while giving them a safe space to be after school. With the worrying increase of obesity related illnesses being referred to the NHS, straining its already stretched resources, we seek with the programmes we support to promote a healthier lifestyle which we hope will be permanent.
Our Ambassadors Programme is in its second year. This provides opportunities to outstanding individuals from clubs supported by YES. They learn to appreciate their potential by engaging with the corporate world giving them real-world, real-time experience, for example by attending a corporate networking event, making a presentation, including Q&A, in a corporate setting, interviewing someone at the top of their game in a career of interest to them and completing work experience in that area. Finally, at a YES trustees’ meeting, they are asked to report on their experience in the programme. In addition to completing their tasks, these young people gain some valuable networking experience during the course of their year.
## **Financial Review**
During the period income from donations and grants has increased from £72k to £107k.
## **Plans for the future**
During the current year we aim to add at least one more club to our beneficiaries and to develop more donor partnerships. We are gaining more volunteer support, particularly around our support for the construction of a new facility for the Islington Boxing Club.
.............................. Aw
Chairman Dated: .........................15/01/2024
- 1 -
## **YOUTH EXPERIENCE IN SPORT**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 JULY 2023**_
The trustees present their annual report and financial statements for the year ended 31 July 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
## **Financial review**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
F G Shearer
A G Mallin M A B Weston D H M Macdonald F Bray H Cho A M Mallin
The trustees' report was approved by the Board of Trustees. .............................. Aw **A G Mallin** Trustee 15/01/2024 Dated: .........................
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YOUTH EXPERIENCE IN SPORT
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF YOUTH EXPERIENCE IN SPORT
I report lo the trustees on rny examination of the financial statements of Youth Experience In Sport (the charityl for
thè year ended 31 July 2023.
Responsibilities and basis of report
As the trustees of the charity land also ils directors for the purposes of company lawl you are responsible for the
preparation of the financial slalements in accordance with the requirements of the Companies Act 2006 Ilhe 2006
Act).
Having satisfied myself that the financial slalements of the charity are not required lo be audited under Part 16 of
the 2006 Act and are eligible for independent examination. I report in respect of my examination of the ¢harity's
financial statements carried OLJI under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my
examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl
of the 2011 Act.
Independent examinerfs ststement
I have completed my examination. I confirm that no matters have come lo my attention in connection with the
examination giving me cause lo believe that in any material respect".
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act,. or
the financial 51alements do not accord with those records., or
the financial slalemenls do not comply with the accounting requirements of section 396 of the 2006 Act other
than any requirement that the accounts give a true and fair view which is not a maller considered as part of an
independent examination,. or
the financial slalements have not been prepared in accordance wth the methods and principles of the
Statement of Recommended Practi for accounting and reporting by charities applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021.
I have no concems and have come across no other matters in connection with the examination lo which attention
should bè dr8wn in this report in order lo enable a proper understanding of the financial slalements lo be reached.
The Station House
15 Slalion Road
st Ives
Cambridgeshire
PE27 5BH
Dated.. 25 MarGh 2.Q24
## **YOUTH EXPERIENCE IN SPORT**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 JULY 2023**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
36,873
69,851
Investments
**4**
1,360
-
**Total income**
38,233
69,851
Charitable activities
**5**
56,597
69,851
**Net expenditure and**
**movement in funds**
(18,364)
-
**Reconciliation of funds:**
Fund balances at 1 August
2022
61,023
-
**Fund balances at 31 July**
**2023**
42,659
-|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
106,724
17,113
54,593
1,360
589
-
108,084
17,702
54,593
126,448
76,686
54,593
(18,364)
(58,984)
-
61,023
120,007
-
42,659
61,023
-|**Total**
**2022**
**£**
71,706
589
72,295
131,279
(58,984)
120,007
61,023|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
## **YOUTH EXPERIENCE IN SPORT**
## **BALANCE SHEET**
## _**AS AT 31 JULY 2023**_
||||**2023**||**2022**||
|---|---|---|---|---|---|---|
||**Notes**|**£**||**£**|**£**|**£**|
|**Current assets**|||||||
|Cash at bank and in hand||60,159|||105,963||
|**Creditors: amounts falling due within**|**10**||||||
|**one year**||17,500|||44,940||
|Net current assets||||42,659||61,023|
|**The funds of the charity**|||||||
|Unrestricted funds||||42,659||61,023|
|||||42,659||61,023|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on ......................... 15 Jan 2024 .............................. Aw A G Mallin **Trustee**
Company registration number 3118882 (England and Wales)
- 5 -
## **YOUTH EXPERIENCE IN SPORT**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2023**_
## **1 Accounting policies**
## **Charity information**
Youth Experience In Sport is a private company limited by guarantee incorporated in England and Wales. The registered office is c/o Star Capital Partners, 33 Cavendish Square, 15th floor, London, W16 0PW.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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## **YOUTH EXPERIENCE IN SPORT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.7 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **1.8 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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## **YOUTH EXPERIENCE IN SPORT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2023**_
## **3 Income from donations and legacies**
||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|
||**funds**|**funds**||**funds**|**funds**||
||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Donations and gifts|36,873|69,851|106,724|17,113|54,593|71,706|
## **4 Income from investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|Interest receivable|1,360|589|
|**Expenditure on charitable activities**|||
||**Support**|**Support**|
||**costs**|**costs**|
||**2023**|**2022**|
||**£**|**£**|
|**Direct costs**|||
|Staff costs|41,145|41,115|
|Insurance|628|614|
|Direct cost|12,307|3,343|
|Computer and software|714|370|
|Bank charges and interest|1,800|1,800|
|Advertising|-|996|
|Phone|479|338|
|Charitable donations|67,063|78,084|
||124,136|126,660|
|**Share of support and governance costs (see note 6)**|||
|Support|2,312|4,619|
||126,448|131,279|
|**Analysis by fund**|||
|Unrestricted funds|56,597|76,686|
|Restricted funds|69,851|54,593|
||126,448|131,279|
## **5 Expenditure on charitable activities**
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## **YOUTH EXPERIENCE IN SPORT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2023**_
## **6 Support costs allocated to activities**
|General expenses
Accountancy
Legal fees
**Analysed between:**
Support costs|**2023**
**£**
-
48
612
1,652
2,312
2,312|**2022**
**£**
919
48
558
3,094|
|---|---|---|
|||4,619|
|||4,619|
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **8 Employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
||1|1|
|**Employment costs**|**2023**|**2022**|
||**£**|**£**|
|Wages and salaries|41,145|41,115|
There were no employees whose annual remuneration was more than £60,000.
## **Remuneration of key management personnel**
The remuneration of key management personnel is as follows.
## **9 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **10 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|Accruals and deferred income|17,500|44,940|
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## **YOUTH EXPERIENCE IN SPORT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2023**_
## **11 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 August**|**Incoming**|**Resources**|**At 31 July**|
|---|---|---|---|---|
||**2022**|**resources**|**expended**|**2023**|
||**£**|**£**|**£**|**£**|
|General funds|61,023|38,233|(56,597)|42,659|
|**Previous year:**|**At 1 August**|**Incoming**|**Resources**|**At 31 July**|
||**2021**|**resources**|**expended**|**2022**|
||**£**|**£**|**£**|**£**|
|General funds|120,007|17,702|(76,686)|61,023|
## **12 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
- 10 -