Charlty rogl8lration number 1050465 Company rggistratlon number 3118882 (England and Wale3) YOUTH EXPERIENCE IN SPORT ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
YOUTH EXPERIENCE IN SPORT LEGAL AND ADMINISTRATIVE INFORMATION Trugle F G Shearer AG Mallin M A 8 Weston D H M Macéonald Hcho A M Mallin Marco Vetrone (Appointed 2 September 2023> Charity numb•r 1050465 Company numbgr 3118882 R•gist•r•d office cjo Star Capital Partners 33 Cavendish Square 15th floor London W1G OPVII Indop•ndont examiner Thomas Quinn The Station House 15 Station Road st Ives Cambridgeshire PE27 5BH
YOUTH EXPERIENCE IN SPORT CONTENTS Pagè Chaimian's statement Trustees, report Independent exarnineVs report Statement of financial a¢ti¥ities Balance She Nt)tes to the financial 5tstements 6-11
YOUTH EXPERIENCE IN SPORT CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 JULY 2024 Aims & Objective8 This year we have continued to make pleasing progress toward our goal of longer term sustainability. Al the same lime we have increased our level of support for beneficiaries significantly. We have added a new beneficiary In the Edmonton Boxing Club while continuing our support of basketball, ladies, football. boxing and rowing. How we deliver public benefit The organisalions we support work with young people lo develop their skills 'on and off the pitch,. They also hope to gain competitive success of course. bul our concentration is on particspalion. We continue lo support lop quality coaches and managers who have a particular ability to engage the young people from their local communitie5 Wlth regular sport that occupies and provides focus while giving them a safe space to be after school and a healthier lifestyle. Our Ambassadors Programme Is In 115 third year. This provides opportunities to oulslanding Individuals from clubs supported by YES. They learn lo appreciate their polenlial by engaging with the corporate world giving them real-world. real-time experience, lor exarnple by attending a corporate netwofking event, making psentatIOn, 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. al a YES Iruslees, meeting. they are asked lo report on their experience in the programme. In addition lo 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 £107k to £260k. Plans for the futu Work continues toward the building of a new home for the Islinglon Boxing Club. We are proud that one of Hackney Jedis, members has gained a scholarship to study and play basketball in the United Slates. and Lea Rowing Club's juniors land fomier juniors) have distinguished themselves in national and Intemalional competition. Chairman Oated
YOUTH EXPERIENCE IN SPORT TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 JULY 2024 The trustees present their annual report and financial statements for the year ended 31 July 2024. The financial statements have been prepared in accordance with the accounting polioes sel out In nole 1 to the financial statements and comply with the charity's governing document, Ihe 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 chanty that unreslficted funds which have not been designated for a specific use should be maintained al a level equivalent lo tseeen three and six month's expenditure. The trustees considei that reserves al this level will ensure that. in the event of a significant drop In funding. they will be able lo continue the charity s CLtrrent activities while consideration Is given to ways in which additional funds may be raised. This level of reserve5 has been maintained throughout the year. The trustee5 have assessed the major risks lo 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 Hcho A M Mallin Marco Velrone (Resigned 14 August 20241 (Appointed 2 September 2023) The truslees. report was approved by the Board of Trustees. A G Mallin Trustee Dated. 6 February 2025
YOUTH EXPERIENCE IN SPORT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YOUTH EXPERIENCE IN SPORT I report to the trust88s on my examination of Ihe financial statements of Youth Experienc8 In Sport (the charity) for th8 year ended 31 July 2024. Responsibilities and basis of report As the ttustees of the charity {and also ils directors for the purposes of company law) you are responsible for ihe preparation of the financial statem•nls in accordance with the requirements of the Companies Aci 2006 (Ihe 2006 Act). Having satisfied myself that the financial statements of Ihe charity ar8 not required to be audited under Part 16 of the 2006 Act and are eligible for independent éxamination, I report in respect of my examination of the charity's financial statements carried out under seclion 145 of the Charities Act 2011 (the 2011 Act). In carrying oul my examination I have followed all the applicable Directions given by the Charity Commission und8r section 145{5)Ib) of the 2011 Ad. Independgnt examiners statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. l Gonfirm Ihat l am qualified to undertake the examinalion because l am a tnember of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have rne to my attention in connertion with the examination giving me cause to believe that in any material respect.. accounting rewrds were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the financial slatements do nol accord with those records,. or the financial slalements do not comply wilh the accounting requirernenls of section 396 of the 2006 Act olher than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the method5 and principles of the Statement of Recommended Practice for accounling and reporting by charities applicable lo charities preparing their accounts in act))rdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to vthi(* attention should be drawn in this reFK•rt in order tt) enable a proper understanding of the financial slalements to be reached. Thomas Q inn The Station Housè 15 Station Road St Ives Cambridgeshire PE27 5BH Dated.. 6 February 2025
YOUTH EXPERIENCE IN SPORT STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024 Unrostrictgd Restricted funds funds 2024 2024 Total Unrestricted Restricted funds fund8 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Investments 175.442 1.757 84,262 259.704 1.757 36.873 69,851 106.724 1,360 Total incorne 177.199 84,262 261.461 38,233 69.851 108,084 Expgnditurp on: Charitable activities 103.070 55.850 1 $8.920 56,597 69.851 126.448 Total expftnditure 103,070 55,850 158,920 56,597 69,851 126,448 Net in¢omel(expenditure) and movement In funds 74.129 28,412 102.541 (18.364) {18.364) Rèeonciliation of lunds: Fund balance5 at l Augusl 2023 42,659 42,659 81,023 61.023 Fund balanees at 31 July 2024 116,788 28.412 145.200 42.659 42.659 The statement of financial adivities includes all gains and losses recognised in the year. All inwme and expenditure derive from continuing activities.
YOUTH EXPERIENCE IN SPORT BALANCE SHEET ASAT31 JULY2024 2024 2023 Notes Current assets Cash at bank and in hand 145,700 60,159 Creditors.. amounts falling due within one year 11 (500) (17.500) Net Current assets 145.200 42,659 The funds of the charity Reslricled income funds Unrestncted funds 12 13 28,412 116.788 42.659 145,200 42,659 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companie5 Act 2006, for the year ended 31 July 2024. The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect lo accounting records and Ihe preparalion of finanoal 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 slalements have been prepared in accordance with the provisions applicable to companies subiecl to the small companies regime. The finanoal statements were approved by the trustees on 6 February 2025 A G Mallin Trustee Company registration number 3118882 (England and Wales)
YOUTH EXPERIENCE IN SPORT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2024 Accounting pollcies Charlty Infomiation Youth Expetienc8 In Sport is a privale company limited by guarantee incorporated in England and Wales. The iegistered office is clo Star Capital Partners, 33 Cavendish Square, 15th lloor, London. W16 OPW. 1.1 Accounting convention The financial statements have be&n prepared in accordance with the tharity's goveming 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 ReGommended Practice appli(zble lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK 8nd Republic of Ireland <FRS 102) (effeGtive 1 January 2019)- The charily is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for diarities not lo prepare a Statement of Cash Flows. The financial statements are ppared in sterling, which is the functional cJJrrency of the charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statemenls have been prepared under the historical cost convention, The principal accounting policies adopted are set out bel¢)w. 1.2 Going concern At the time of approving the financial statements. the trustees have a reasonable expectation that the charily has adequate resources to continue in operational existence fof the foreseeable future. Thus the trustees ontinue to adopt Ihe goin9 concern basis of a¢counting in Preparing the finan(ial statem8nls. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the trustee5 in furtherance of their charitable objectives. Reslricted funds are subject to specific conditions by donors or grantors a5 to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statement8. Endowment funds are subject lo specific condrtions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is 18gally entitled to Ft after any perforrnance wnditions have been met. the amounts can be measured reliably, and it is probable that income will be received. Cash donalions are r8cognised on receipt. Other donations are recognised onca the charity has been notified of the donation, unless perfonn8nce conditions require deferral of the amount. Income tax rKoverable in relation lo donations received under Gift Aid or deeds of covenant is recogni$ed at Ihe time of the donation. Legacies are COgnISed on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the afflount is not known, the legacy is tieated as a contingent asset.
YOUTH EXPERIENCE IN SPORT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Accounting policies (Conllnued) 1.5 Expenditijre Expenditure is rerA)gnised once Ihere is a legal or constructive obligation to transfer economic benefit to third party, it is probable that a transfer of economic ben8fits viill be required in settlement. and the amount of the obligation can b8 measured reliably. Expenditure is classified by activily. The costs of each activity are made up of the total of direct costs and shored Gosts, including support costs involved in undertaking each activity. Dir8ct costs attributable to a single activity are allocated directly to Ih8t activity. Shared costs which contribute lo more than one aciivity and support costs which are not attributable to a single aclivity are apportioned between those adivilies on a basis consistent with the use of resources. Central staff costs are allocated on the basis cf lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Ca8h and cash equivalonts Cash and cash equivalents include cash in hand. deposits held at call wilh banks, other short-tenn liquid investments with Cjriginal maluritie$ of three months or less, and bank overdrafts. Bank overdrafts are shown within bofrowings in current liabililies. 1.7 Financial instrument8 The charity has elected to apply the provisions of Sedion 11 '8asic Financial Instrumonts. 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 chaiity becomes party to the contractual provisions of the instrument. Financial assels and liabilities are oflset. with Ihe nel amounts presented in the financial slgtements, when there is a gaLlY enforable right to Sel off the recognised amounts and Ihere is an intention to settle on a net basis or lo re81is8 thé asset and settle the liability simultaneously. 1.8 Employee benefits The cost of any unused holiday entillément is recognised in the period in which the employee's serdic*s are received. Termination benefits are recognised imtnediately as an expense when the charity is demonstrably committed to temiinate the employment of an employeo or to prcwide termination benefils. Critical accountlng estimates and judgements In the application of the charity's accounting policies. the trustees are required to make jLKlgements. estimates and a5stsmptions aboui the carrying amount of assets and liabilities that are not readity apparent from other sOurs. The estimates and associated assumptions are based On historical experien and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimales and underlying assumptions are reviewed on an ongoing basis, Revisions to aCunts.ng ests"mat8s are Tecognised in the period in whith the estimate 18 revised where the revision affects only ihat period, or in Ihe period of the revision and fvture periods where the revision affects both current and future periods.
YOUTH EXPERIENCE IN SPORT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Incomè from donations and legacles Unre$triGted Restricted funds fund8 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts 175,442 84.262 259,704 36,873 69.851 106,724 Income from investments Unrestrlcted Unregtrlcted funds funds 2024 2023 Interest receivable 1,757 1.360 Expenditure on charitable activltles Support costs 2024 Support cost8 2023 Direct COSts Staff CA)Sts Insurance Direct costs Comper and soflware Bank charges and interest Telephone CharTrlable donations 51,268 707 10.652 1,033 1.800 41,145 628 12,307 714 1.800 479 87,3 8e,297 152.245 124,136 Sharo of Support and govprnan¢e costs (see note 6) Support 6,675 2,312 158,920 126,448 Anafysls by fund Unrestricted funds Restricted funds 103,070 55,850 56.597 69.851 158,920 126.448
YOUTH EXPERIENCE IN SPORT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Support costs allocated to aclivities 2024 2023 General expenses Legal fees Govern8nce costs 938 5.107 630 48 1.652 612 6.675 2.312 Analysed between: Support COSts 6.675 2,312 Net movement In funds 2024 2023 The net movement in funds is slated after chargingl(crediting)'. F085 payable for the independent examination of the charitys finanual statements 630 612 Trustees None of the trustees lor any persons connected with them) rèceived any remuneration or benefi15 from the charity during the year. Employees The average monthly number of employee5 during the year was: 2024 Number 2023 Number Employmènt costs 2024 2023 Wages and salaries 51.268 41,145 The were no employees whose annual remuneration vms more than £60.000. 10 Taxation The chariiy is exempl from taxation on its activities because all its incg)m8 is applied for charitable purposes.
YOUTH EXPERIENCE IN SPORT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 11 Creditors: amounts falling due wlthln one year 2024 2023 Trade ereditors AGcruals and deferred income 500 17,5CKI 500 17.500 12 Restrlcted funds The $trIcIed funds of ihe charity cofflprise the unexpended balances of donations ané grants hèld on trust subject to specific conditions by donors as to htr*V they may be used. At 1 August 2023 Incoming resources Resourcos expènded At 31 July 2024 84.262 (55,850) 28,412 Prnviou8 year: At 1 August 2022 lrteoming resources Resources expended Al 31 July 2023 69,851 (69.851) 13 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donaticns and 9ranls 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 sel aside out of unrestrirted funds by the trustees for speLific PUTposes. At 1 August 2023 Incomlng resources Resources expended At 31 July 2024 General funds 42,659 177,199 (103.070> 116,788 Previous yèar: At 1 August 2022 InGoming resources Resource5 expended At 31 July 2023 General funds 61,023 38,233 156,597} 42,659 10-
YOUTH EXPERIENCE IN SPORT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JULY2024 14 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 July 2024- Current asse1511liabiliti8s) 116,788 28.412 145,200 116,788 28.412 145.2 Unre¥tricted funds 2023 R05tricted funds 2023 Total 2023 At 31 July 2023: Current assetsl(liabilities) 42.659 42,659 42.659 42,659 15 Related party tran3actions There were no disclosable related party transactions during the year (2023 - none). 11