Draft Financial Statements at 23 October 2025 at 09:42:41
Charity registration number 1050465 (England and Wales) Company registration number 03118882
YOUTH EXPERIENCE IN SPORT
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | F G Shearer | |
|---|---|---|
| A G Mallin | ||
| M A B Weston | ||
| D H M Macdonald | ||
| H Cho | ||
| Ms A M Mallin | ||
| Ms L Weston | (Appointed 17 March 2025) | |
| Charity number | 1050465 | |
| Company number | 03118882 | |
| 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 |
Draft Financial Statements at 23 October 2025 at 09:42:41 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 - 11 |
Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 JULY 2025
Aims & Objectives
This year just passed we have again increased the volume of support for our beneficiaries. Our grants awarded for the year just ended have benefitted three principle areas: Basketball - 35%, Boating (Both Rowing and canoeing) - 38% and boxing - 27%. We also added two new beneficiaries: Everyone's Gang in Bedford and the Pedro Club in Hackney.
How we deliver public benefit
We support organisations who work with young people to develop their skills 'on and off the pitch'. While the athletes hope to gain competitive success, our concentration is on participation. We seek top quality coaches and managers who have a particular ability to encourage the young people from their local communities. Because the camaraderie in sport transcends class and ethnic boundaries, it promotes community cohesion, an invaluable contribution in today's fractious world. In addition, sport provides focus while giving athletes a healthier lifestyle and a safe space to be after school.
Our Ambassadors Programme is entering its fourth year, providing opportunities to outstanding individuals from clubs supported by YES. The selected young people learn to appreciate their potential by involvement with real businesses, including attending a networking event, making a presentation, including a Q&A, in a business setting, interviewing someone at the top of their game in a career of interest to them and completing work experience in that area. Finally, they report on their experience in the programme at a YES Trustees' meeting.
Financial Review
While we have increased the level of support we give our beneficiary organisations, the support we enjoyed from benefactors was less than in the previous year. We anticipate strong growth in the latter area during the current year, from increased event activity as well as from greater donor support.
Plans for the future
During the current year we will be broadening our support by adding up to five more organisations to the group. We have already begun conversations with the All Star Boxing Gym & Youth Club in Kilburn. This expansion of our efforts will not dilute our support for existing beneficiaries.
..............................
Chairman Dated: .........................
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Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2025
The trustees present their annual report and financial statements for the year ended 31 July 2025.
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 (Resigned 14 August 2024) H Cho Ms A M Mallin M Vetrone (Resigned 6 March 2025) Ms L Weston (Appointed 17 March 2025)
The trustees' report was approved by the Board of Trustees.
..............................
A G Mallin Trustee Dated: .........................
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Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YOUTH EXPERIENCE IN SPORT
I report to the trustees on my examination of the financial statements of Youth Experience In Sport (the charity) for the year ended 31 July 2025.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance 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 which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Thomas Quinn
The Station House 15 Station Road St Ives Cambridgeshire PE27 5BH Date: ............................
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Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2025
| Unrestricted Restricted funds funds 2025 2025 Notes £ £ Income from: Donations and legacies 3 62,547 64,400 Investments 4 5,553 - Total income 68,100 64,400 Expenditure on: Charitable activities 5 127,322 71,362 Total expenditure 127,322 71,362 Net income/(expenditure) and movement in funds (59,222) (6,962) Reconciliation of funds: Fund balances at 1 August 2024 116,788 28,412 Fund balances at 31 July 2025 57,566 21,450 |
Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 126,947 175,442 84,262 5,553 1,757 - 132,500 177,199 84,262 198,684 103,070 55,850 198,684 103,070 55,850 (66,184) 74,129 28,412 145,200 42,659 - 79,016 116,788 28,412 |
Total 2024 £ 259,704 1,757 |
|---|---|---|
| 261,461 158,920 |
||
| 158,920 | ||
| 102,541 42,659 |
||
| 145,200 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
BALANCE SHEET
AS AT 31 JULY 2025
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets The funds of the charity Restricted income funds 12 Unrestricted funds 13 |
2025 £ 79,946 (930) |
£ 79,016 21,450 57,566 79,016 |
2024 £ 145,700 (500) |
£ 145,200 |
|---|---|---|---|---|
| 28,412 116,788 |
||||
| 145,200 |
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 2025.
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 .........................
.............................. A G Mallin Trustee
Company registration number 03118882 (England and Wales)
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Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
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.
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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Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
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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Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
3 Income from donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Donations and gifts | 62,547 | 64,400 | 126,947 | 175,442 | 84,262 | 259,704 |
4 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Interest receivable | 5,553 | 1,757 |
| Expenditure on charitable activities | ||
| Support | Support | |
| costs | costs | |
| 2025 | 2024 | |
| £ | £ | |
| Direct costs | ||
| Staff costs | 54,373 | 51,268 |
| Insurance | 789 | 707 |
| Direct costs | 3,596 | 10,652 |
| Comper and software | 1,305 | 1,033 |
| Bank charges and interest | 1,800 | 1,800 |
| Advertising | 2,212 | - |
| Telephone | 571 | 488 |
| Charitable donations | 119,760 | 86,297 |
| Fund raising projects | 11,039 | - |
| Just Giving | 1,451 | - |
| 196,896 | 152,245 | |
| Share of support and governance costs (see note 6) | ||
| Support | 1,788 | 6,675 |
| 198,684 | 158,920 | |
| Analysis by fund | ||
| Unrestricted funds | 127,322 | 103,070 |
| Restricted funds | 71,362 | 55,850 |
| 198,684 | 158,920 |
5 Expenditure on charitable activities
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Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
6 Support costs allocated to activities
| 6 Support costs allocated to activities |
||
|---|---|---|
| General expenses Legal fees Governance costs Analysed between: Support costs 7 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements |
2025 £ 102 - 1,686 1,788 1,788 2025 £ 1,686 |
2024 £ 938 5,107 630 |
| 6,675 | ||
| 6,675 | ||
| 2024 £ 630 |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9 Employees
The average monthly number of employees during the year was:
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| 1 | 1 | |
| Employment costs | 2025 | 2024 |
| £ | £ | |
| Wages and salaries | 54,373 | 51,268 |
There were no employees whose annual remuneration was more than £60,000.
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
11 Creditors: amounts falling due within one year
| Trade creditors Accruals and deferred income |
2025 £ 240 690 930 |
2024 £ 500 - |
|---|---|---|
| 500 |
12 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At | 1 | August | Incoming | Resources | At | 31 July | |
|---|---|---|---|---|---|---|---|
| 2024 | resources | expended | 2025 | ||||
| £ | £ | £ | £ | ||||
| 28,412 | 64,400 | (71,362) | 21,450 | ||||
| Previous year: | At | 1 | August | Incoming | Resources | At | 31 July |
| 2023 | resources | expended | 2024 | ||||
| £ | £ | £ | £ | ||||
| - | 84,262 | (55,850) | 28,412 |
13 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 | |
|---|---|---|---|---|
| 2024 | resources | expended | 2025 | |
| £ | £ | £ | £ | |
| General funds | 116,788 | 68,100 | (127,322) | 57,566 |
| Previous year: | At 1 August | Incoming | Resources | At 31 July |
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 42,659 | 177,199 | (103,070) | 116,788 |
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Draft Financial Statements at 23 October 2025 at 09:42:41 YOUTH EXPERIENCE IN SPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
14 Analysis of net assets between funds
| Unrestricted Restricted funds funds 2025 2025 £ £ At 31 July 2025: Current assets/(liabilities) 57,566 21,450 57,566 21,450 Unrestricted Restricted funds funds 2024 2024 £ £ At 31 July 2024: Current assets/(liabilities) 116,788 28,412 116,788 28,412 |
Total 2025 £ 79,016 |
|---|---|
| 79,016 | |
| Total 2024 £ 145,200 |
|
| 145,200 |
15 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
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