Charity Registration No. 1055980 ST. MICHAEL'S YOUTH PROJECT ANNUAL REPPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Fawley Judge & Easton Chartered Certified Accountants 1 Parllament street Hull East Yorkshire HU12AS
ST. MICHAEL'S YOUTH PROJECT LEGAL AND ADMINISTRATIVE INFORMATION Board Of Trustees Mr J Fielder Mrs S Lightroot MrA Dorton Isobel Scruton Charlty number 1055980 Principal address Orchard Park Road Hull HU6 9BX Independent examiner Fawley Judge & Easton Chartered Certified Accountants 1 Parliament street Hull East Yorkshire HU12AS
ST. MICHAEL'S YOUTH PROJECT CONTENTS Page Trustees report Independent examiner's report statement of financial activities Balance sheet Notes to the financial statements 8-18
ST. MICHAEL'S YOUTH PROJECT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees, general committee present their report and the unaudited financial statements of the charity for the year ended 31 st December 2023. The financial ststements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Constitution, the Charities Act 2011 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their a¢xounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016} Objectives and actlvlties The charity operates from its registered Offi and organises meetings, outings and activities for its participants. To educate and assist young persons through their leisure time activities to develop their physical, mental and spiritual capacities in the North Hull and Orchard Park Estates in Hull. The board of trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achlevements and performance The past year has been a period of change, but also one that has taken us back to our roots. Despf(e facing numerous challenges, particularly in securing adequate funding, we have seen a notable increase in the participation of children. young people, and families, along with members of the community, in our programmes. Our efforts to address the evolving needs of the young people led to the introduction of new sessions focusing on mental health and wellbeing, as well as enhanced support for the increase of young people presenting with Special Education Needs andlor neurodiversity. Additionally, our commitment to community engagement has intensified in response to the cost-of-living crisis and fuel and food poverty, along with the continued fall out of the pandemic that has not gone away. We have continued to build new partnerships while continuing to work closely with existing ones, reinforcing the value of collaborative efforts and the need to work together for future sustainability. Rachael Garland joined St. Michael's Church as the new Vicar, and this has helped to re-establish links and partnership with the church, and we look forward to working together in the future. Securing sufficient funding has been a persistent challenge throughout the year. We have continued to receive support through commissioning and existing grants, which has ensured our core services could continue. Despite our best efforts in grant applications and fundraising, the financial constraints have impacted our ability to expand our services and reach as much as we would have liked to meet the need. However, we are pleased to say that we secured funding through the Rank Foundation to provide a leadership development opportunity. This crucial support has enabled us to employ an additional full-time staff member, significantly bolstering our team's capacity lo deliver services, and support our Project Lead in identifying and applying for funding. The wider financial picture affects us, as well as many other voluntary sector organisations. The national living wage has increased, along with utilities, insurances and other overheads. These have all impacted on our budget and contributed to our raised expenditure. Nonetheless, we remain committed to finding innovative solutions to these challenges and aSSesS our financial strategies to continue providing valuable services for children, young people, and families. There has been a significant increase in the number of young people participating in our activities. This rise is a testament to the relevance and quality of our provision, which is designed to meet the diverse interests and ever- changing needs. We work closely with young people and families in giving them a voice to influence the direction of our work and to ensure what we provide remains relevant and is done 'with' people not'to, them. We have observed a growing number of young people struggling with mental health issues. The pressures of modern life, including academic stress, social media influence, and the ongoing economic challenges, have contributed to increased levels of anxiety. depression. and emotional distress among young people. This trend has underscored the urgent need for targeted mental health support within our programmes, but this places greater stain on our capacity and demonstrates the need for increased support from external agencies, which are
ST. MICHAEL'S YOUTH PROJECT TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 In response, we have introduced new sessions specifically designed to address these challenges. These sessions aim to provide young people with the tools they need to manage their mental heallh effectively. By creating a supportive environment where participants can openly discuss their feelings and learn coping strategies, we are working to ensure that our young people have the resources they need to navigate these difficult times. These sessions have been well-received and have had a positive impact on the participants, helping them navigate the challenges of adolescence with better tools and understanding. We have noticed a significant rise in the number of young people attending our programmes who are presenting with neurodiverse traits, including conditions such as autism, ADHD, and dyslexia. This increase highlights the diverse range of needs within our community and underscores the importance of creating an inclusive environment where every young person can feel supported and understood. To better meet these needs, our staff have engaged in awareness training. and worked with individuals, families, and specialist organisations to deepen their understanding of neurodiversity. This has equipped our team with the skills and knowledge to create an inclusive environment. This learning has enabled us to tailor our sessions more effectively. ensuring that all participants can thrive, regardless of their individual challenges or learning styles. Our core sessions have continued providing after school and holiday provision for children and young people aged 5-19 years old and their families. Providing a safe space for them to build relationships. learn new skills. and have funl We specialise in delivering activities in the outdoors, with mountain biking, walking, along with residential experiences. The highlight of our outdoor programme this year was a residential trip to Wales, where young people had the opportunity to climb Tryfan mountain. This trip not only provided a memorable adventure but also fostered teamwork, resilience, and a love for nature. We continued to have a small but tight knit team, with a strong work ethic for providing the best we can for the community and supporting young people in accessing greater opportunities for them to feel happier, a sense of purpose and worth. Our dedicated team has delivered sessions and activities 50 weeks of the year, from 9.00am to 8.00pm daily, with over 1000 attendees. Our work within the wider community has intensified in response to the ongoing cost of living crisis and issues of fLrel and food poverty. Orchard Park has continued to be identified as having the highest number of holds in fuel poverty of any neighbourhood in the UK, putting immense strain on families and the community. In response, we have increased our efforts to provide support and resources to those in need, these have been through our weekly foodbank, lunch clubs, droFFins, and targeted sessions. We have worked closely with Fareshare Hull & Humber and Hull for Heroes, alongside receiving weekly surplus donations from Aldi in Cottingham (through the Neighbourly Surplus Scheme). These relationships and support have been critical in us being able to attempt to meet the consistent need. Building and nurturing partnerships has been a cornerstone of our SucsS this year. We have developed new partnerships while continuing to work closely with our existing partners. These connections are invaluable, allowing us to support each other and amplify our impact within the community. We do not work in isolation and recognise that these collaborative and trusted relationships are key to sustainability as a project. We would like to thank our supporters, partners, staff - who always go above and beyond, and most importantly, the young people who inspire us every day.
ST. MICHAEL'S YOUTH PROJECT TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Financial review The charity receives income from grants, donations and its various activities. During 2023 the gross income amounted to £245,360 and is used to finance direct charitable expenditure and other indirect expenditure amounting to £596,845. The trustees report a net outgoing resource of £351,485 for the year compared to a net outgoing resource of £1,873 in 2022. Our Funds amount to a total of £267,077 of which £119.566 is held for specific restricted purposes. Risk The trustees undertake an annual review to identify major risks to which the charity may be exposed and try to establish systems to mitigate those risks. At the time of this report no major risks were identified. It is the policy of the charity that unrestricted ndS which have not been designated for a specfic use should be maintained at a level equivalent to between three and six month's expenditure. The board of trustees consider that resetves at this level will ensure that, in the event of a significant drop in funding, they wll 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 board of trustees has 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. Structu. governance and management The charity was established in1996 with the objective of educating and assisting young people through their leisure time activities to develop their physical, mental and Spifltual capacities in the North Hull and Orchard Park areas of Kingston Upon Hull. The charity is governed by a Trust Deed dated 15 May 1996 as amended 24 July 2001. The General Committee are supported by paid staff and volunteers. The trustees have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance as published by the Charities Commission. The board oftrustees who served during the year and up to the date of signature of the financial statements were.. Mr J Fielder Mrs S Lighffoot Mr D White MrA Dorton Isobel Scruton (Resigned 31 May 2023) Independent Examiner J M Leathley of Fawley Judge and Easton has been re-appointed as independent examiner for the ensuing year. The Trustees rt was approved by Board of Board Of Trustees. MrA Dorton Chair ofTrustees Dated.. 3 September 2024
ST. MICHAEL'S YOUTH PROJECT INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF ST. MICHAEL'S YOUTH PROJECT I report to the board of trustees on my examination of the financial statements of St. Michael's Youth Project (the charity) for the year ended 31 December 2023. Responsibilities and basis of report As the board of trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statements carried out under sedion 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Your attention is drawn to the fact that the charity ha5 prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements lo provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. Accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or The financial statements do not accord with those records., or The financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention s uié be drawn in this report in order to enable a proper underslanding of the financial statements to bero Jonathan Leathley AFawley Judge & Easton Chartered Certified A¢¢ountants 1 Parliament Street Hull East Yorkshire HU12AS Dated.. 3 September 2024
UJOLn 00 rD O Lr) rDOO (fj LTJ O ri zy fo Cry CO (*) a) o Lfi C tu Q)
ST. MICHAEL'S YOUTH PROJECT BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 13 15,700 381,100 15 21,153 245,712 20,998 234,324 266,865 255,322 Creditors: amounts falling due within one year 16 {15,488) (17,860) Net current assets 251,377 237,462 Total assets less current liabilltles 267,077 618,562 Income funds Restricted funds Unrestricted fund5 - general 119,566 147,511 115,283 503,279 267,077 618,562 The financi atements were appr by the Board Of Trustees on 3 September 2024 MrA Dorton Chalr of Trustees IP-Ury
ST. MICHAEL'S YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charity information St Michael's Youth Project is a registered charity in England and Wales 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Igoverning documentl, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 102,1 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 Statent of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements have been prepared under the historical cost convention, Imodified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the board of trustees have a reasonable expectation that the charity has adequate reSoUrS to continue in operalional existence for the foreseeable future. Thus the board of 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 board of trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as lo 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 performan 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.
ST. MICHAEL'S YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continuedl 1.5 Expenditure Expenditure is recognised On there is a legal or constructive obligation to transfer economic benefit to a third paty, 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 totsl of dir&t 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. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure heading in the Statement of Financial Activities. Expenditure includes value added tax where incurred. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and fully depreciated in the year of purchase. On the disposal of an asset the sale proceeds{if any) is recognised in net incomel(expenditure} for the year. 1.7 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment Ios5. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any>. 1.8 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 month5 or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnancial 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 balan 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.
ST. MICHAEL'S YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) Baslc financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amort15ed cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefrts 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. 1.11 Retlrement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the charity's accounting policies, the board of 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 Ihe revision affects only Ihat period, or in the period of the revision and future periods where the revision affects both current and future periods.
Z5
ST. MICHAEL'S YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from charitable activities Unrestricted funds 2023 Unrestricted funds 2022 Core Rechargeslsales Room Hire Other income 2,620 2,420 2,933 2,300 1,400 7,973 3,700 Income from investments Unrestricted Unrestrlcted funds funds 2023 2022 HandelsbankenlCCL 4,036 1.105
ST. MICHAEL'S YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable activities Aspects of Aspects of Project Project 2023 2022 Staff costs Depreciation and impairment Equipment Childrens and Young People, sActivities Education Support SMYP Youthwork Training Other projects including Bicycle library Minibus running costs Premises costs Refreshments and sundry 174,109 3,900 12,126 8,938 1,761 1 ,381 1,021 6,010 18,295 1,936 144,748 3,581 12,516 5,593 861 9,197 24,142 1,857 229,477 202,495 Donations {see note 7) 361,500 Share of support costs (see note 8} Share of governance costs (see note 81 4,518 1,350 9,802 1,260 596,845 213.557 Analysis by fund Unrestricted funds - general Unrestricted funds - desiganted Restricted funds 383,103 183,941 29,801 171,841 41,716 596,845 213,557 Donations payable Aspects of Project 2023 2022 Donation to instilutions.. Pinewood Trust 361,500
ST. MICHAEL'S YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support Costs allocated to activities 2023 2022 Travel expenses Telephone, copier and computer costs 1,037 1,552 2,075 2,687 107 198 752 1,361 2,622 1,260 Recruitment and training Hull CVS Music Licence and sundries Support costs Governance costs 1,162 768 942 1,350 6,811 11,062 Analysed between: Core 6,811 11,062 Net movement in funds 2023 2022 The net movement in funds is stated after chargingl(crediting}: Depreciation of owned tangible fixed assets 3.900 10 Board Of Trustees None of the board of trustees {or any persons connected with them) received any remuneration or benefits from the charity during the year. 11 Employees The average monthly number of employees during the year was.. 2023 Number 2022 Number Employment costs 2023 2022 Wages and salaries other pension costs 169,430 4,679 141,187 3,561 174,109 144,748 There were no employees whose annual remuneration was more than £60,000.
ST. MICHAEL'S YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Employees Icontinued) Remuneration of key management personnel The remuneration of key management personnel was as follows.. 12 Taxation The charity is exempt from tsxation on its activities because all its income is applied for charitable purposes. 13 Tangible fixed assets Plant and equipment Motor vehicles Total Cost At 1 January 2023 Disposals 361,800 (361,500) 43,831 405,431 (361,500) At 31 December 2023 100 43,831 43,931 Depreciation and Impalrment At 1 January 2023 Depreciation charged in the year 24,331 3,900 24,331 3,900 At 31 December 2023 28,231 28,231 Carrying amount At 31 December 2023 100 15,600 15,700 At 31 December 2022 361,600 19,500 381,100 14 Tangible fixed assets Assets under the control of the trustees and written off in the year of purchase included at their original cost are as follows.. . 2023 2022 Youth Centre - 25 year lease (expiring 2024) Minibus Other equipment Minibus Assets donated by DIY SOS Big Build 354,700 354,700 16,500 16,500 38,931 42,931 45,324 45,324 361,500 The following assets were transferred to the Pinewood Trust All Terrain vehicle Lawn Mower Topper 11,963 4,200 4,000
ST. MICHAEL'S YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Debtors 2023 2022 Amounts falllng due within one year: Trade debtors Other debtors 155 20,998 360 20,638 21,153 20,998 16 Creditors: amounts falllng due within one year 2023 2022 Notes Other taxation and social security Deferred income Accruals and deferred income 2,312 11,957 1,219 6,639 10,000 1,221 17 15,488 17,860 17 Deferred income 2023 2022 Other deferred income 11,957 10,000 Deferred income is included in the financial statements as follows: 2023 2022 Deferred income is included within.. Current liabilities 11,957 10,000 Movements in the year.. Deferred income at 1 January 2023 Released from previou5 periods Resources deferred in the year 10,000 (10,000) 11,957 10,000 Deferred income at 31 December 2023 11.957 10,000 18 Retlrement benefit schemes 2023 2022 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 4,679 3,561
ST. MICHAEL'S YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Retirement beneflt schemes (Continued) The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 19 Analysis of net assets between funds Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 December 2023: Tangible assets Current assetsl{liabilities) 15,700 131,811 15,700 251,377 119,566 147,511 119,566 267,077 Unrestricted funds 2022 Restricted funds 2022 Total 2022 At 31 December 2022: Tangible assets Current assetsl{liabilities) 381,100 122,179 381,100 237,462 115,283 503,279 115,283 618,562 20 Related party transactions Transactions with related parties During the year the charity entered into the following transactions with related parties.. Services received 2023 2022 K2G Consulting Limited 2,400 During the year St Michaels Youth Project paid £2,400 to K2G Consulting Limited a company owned by Mr J Fielder for professional services. Mr J Fielder is a trustee. St Michaels Youth Project paid Pinewood Trusl £200 for venue hire during the year. Pinewood Trust is controlled by Jo Lorenz the project lead of St Michaels Youth Project.
ST. MICHAEL'S YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 DIY SOS Big Build During 2021- SMYP was chosen as the project to feature as part of the DIY SOS Big Build. BBC CIN have been a funder of SMYP Sin 1993. Working in partnership with the Pinewood Trust. A purpose built outdoor learning and adventure activity centre was built with the value of the fixed and capital assets creaedldonated added to the SMYP balance sheet as the receiving charity - hence the donation reference note of 'Pinewood Trust" During 2022 - SMYP Trustees have been working with Pinewood Trustees regarding the future development and use of the site under a joint partnership agreement. From this, a decision was taken to transfer the value of the donated assets to the Pinewood Trust for them to manage. The donation can be seen in note 3 under the 2021 year.