**REGISTERED COMPANY NUMBER (England and Wales): 03451215 REGISTERED CHARITY NUMBER: 1068782** 

## **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For the year to 31 August 2021** 

## **FOR** 

## **THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

1 



**THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year to 31 August 2021** 

||Page|
|---|---|
|Report of the Trustees|3 - 8|
|Independent Examiner’s Report|9|
|Statement of Financial Activities|10|
|Comparative Statement of Financial Activities|11|
|Balance Sheet|12|
|Cash Flow Statement|13|
|Notes to the Financial Statements|14 - 24|



2 



**THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES For the Year to 31 August 2021** 

The Trustees, who are also Directors of the charitable company for the purposes of the Companies Act, present their report with the financial statements of the charity for the year to 31 August 2021. The financial statements comply with the Charities Act 2011, the Companies Act 2006 and the provisions of the Statement of Recommended Practice Charities SORP 2019 (FRS102). 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

**Name:** The Worth Foundation Limited (known as Worth Unlimited **Registered Company number:** 3451215 (England and Wales) 1068782 

**Registered Charity number:** 

**Registered Office and Principal Office** 434 Forest Road Walthamstow London E17 4PY 

## **Trustees:** 

Rev. AS Collishaw (Chairman) A D Boul K Rayner Lunn (Resigned 19/07/2021) M Watson R Lampard Rev. M Holmes (Resigned 04/01/2021) S Taylor (Appointed 05/10/2020) AI Mathews (Appointed 08/10/2020) M Smith (Appointed 10/112021) 

**Bankers:** Unity Bank Nine Brindleyplace Birmingham B1 2HB 

**Independent Examiner:** Steven R Mugglestone Michael Harwood & Co Chartered Accountants Greville House 10Jury Street Warwick CV34 4EW 

3 



**THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES For the Year to 31 August 2021** 

## **OBJECTIVES AND ACTIVITIES** 

## **Objects, aims, strategy to achieve** 

Worth Unlimited is a national Christian charity and social enterprise, dedicated to inspiring hope.  We equip and support people to harness their passions, gifts, skills and talents to be locally rooted enablers of hope and transformation.  Our extensive experience has taught us that people flourish and become change-makers when they have a good sense of self, healthy relationships and purpose.  We have a substantial track record of working alongside people of all ages, particularly young people, to remove barriers, foster well-being and build stronger, more resilient, better connected communities. 

We are committed to making a high-quality, relational and innovative investment in our communities.  Our teams provide mutual support and encouragement; sharing learning and good practice, to sustain each other for longterm working and making the greatest possible impact.  Our member branches are situated in the London Borough of Waltham Forest, Loughton (Essex), Birmingham, Huddersfield, Lincolnshire, Doncaster and Kidderminster.  Our partner branches (separate charities who have joined our family) are the OK Club in South Kilburn (London Borough of Brent) and DACYM in Darlington. 

Across these branches we run a variety of projects, including; 

- Alternative education 

- Counselling 

- Cooking classes 

- Detached youth work 

- Listening services 

- Mentoring 

- Mobile youth bus 

- Personal development programmes 

- Residentials 

- School-based provision 

- School holiday meal provision 

- Social enterprise training 

- Social action opportunities 

- Therapeutic horticulture 

- Youth club sessions 

- Work with young offenders 

Our paid and voluntary youth workers focus on developing positive, transformative relationships with young people, using good youth work skills to help develop hope and potential in individuals.  In order to facilitate this, we base our work around our four-stage Participant Pathway: 

- Contact – building meaningful relationships of trust 

- Interests and Activities – using fun activities to help young people to develop skills, confidence and self-esteem 

- Focused Interventions – fostering young people’s personal development and enabling them to identify their purpose 

- Giving Back – providing opportunities for young people to contribute to society and use their skills to benefit others 

## **Review of activities and fundraising** 

Worth Unlimited has a devolved ethos, so our branches relate primarily to their local communities.  We retain the core functions of the organisation at our central office, but encourage innovation and bespoke solutions to local challenges in our branches.  We are also keen to see the development of local people, particularly young people, where possible.  This locally-focussed approach has its challenges, particularly around common fundraising, but we believe we have made significant progress over the past year. 

During the year, we invested time and finance in developing our infrastructure, including increasing our communications; refining and embedding our Theory of Change and mechanisms for impact assessment; and strengthening our central capacity for fundraising and developing social enterprise. 

4 



## **THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES For the Year to 31 August 2021** 

We have been grateful for ongoing partnerships with Frontier Youth Trust, Open Door Community Foundation, Firs and Bromford Neighbours Together, and St Margaret’s Community Trust which have enabled us to cover some of the core costs of our organisation and therefore increase our capacity to drive forward our strategic plan.  We are pleased to have resourced and served alongside them. 

## **Coronavirus Pandemic** 

Following the guidance issued by the UK Government in March 2020, our activities continued to be disrupted by the pandemic throughout the year.  However, nearly all of our delivery staff remained at work with only minimal use of the Governments Furlough scheme for those members of our team whose jobs were impossible to deliver or who were too vulnerable to work.  We have been grateful for the guidance from the National Youth Agency which has helped us to make wise and informed decisions about how to manage the risk with our faceto-face youth work, which we have supplemented with continued use of online activities.  Our engagement numbers have inevitably been affected by this situation. 

We have continued to utilise video call technology (that everyone has become familiar with using) to provide the learning opportunities and to reduce our travel, and therefore carbon footprint, from pre-pandemic levels. 

## **ACHIEVEMENTS AND PERFORMANCE** 

Worth Unlimited employs 33 people (approximately 17 full time equivalents) through its branches, working in over 14 neighbourhoods.  Over the course of the year we have had contact with 1,478 young people and 462 adults (1,809 and 173 in the previous year).  These people will have varying levels of intervention with us.  Some take part in short-term or drop-in type programmes, while others will be involved in more intensive work, such as weekly mentoring or counselling.  The highlights from each branch are as follows: 

## **Birmingham and Solihull** 

We have continued to work in close partnership with Open Door Community Foundation to run ‘Together We Can!’ (TWC), a project within the Firs and Bromford neighbourhood, bringing together youth work and adultfocused asset-based community-building work to maximise the opportunities for intergenerational (as well as cross-cultural) interaction and relationship-building.  Through this project we have provided one-to-one support, open access youth work, detached youth work and opportunities for local children and young people to participate in intergenerational and youth-led social action projects, both through schools and community groups, from afternoon teas for the elderly to developing local green spaces.  We continue to develop our “Youth Connector” team - local neighbours passionate about engaging with young people in their community.  Our cycle business, Gear Up, continues to “Inspire Hope One Bike at a Time” offering servicing, repairs and training and Listen Threads (clothing brand) works with a core group of vulnerable young women and launched the “Discover Joy” range of clothing.  Highlights of the year have included: Launching a second location for Gear Up at University of Birmingham - The Gear Up Cycle Hub, finding new ways to engage young people during and after the pandemic such as online gaming sessions, and seeing the confidence of our youth connector team increase and take on leading the delivery of a number of youth work sessions in their own community. 

## **Darlington (Darlington Area Churches Youth Ministry)** 

Darlington Area Churches Youth Ministry (DACYM) is a community-based youth-focused outreach initiative that works from an inclusive Christian value base, using the principles and practices of informal education and community development. It’s core projects include The Listening Post (a listening and mentoring service for young people), The Hurworth Youth Project (a portfolio of youth activities including detached work, youth club and listening post work) and general schools work (including the provision of assemblies, RE/PHSE Lessons and lunchtime activities). In 2020/21 the Listening Post supported over 165 young people, holding over 1500 listening sessions. 

## **Doncaster** 

Worth Unlimited for Doncaster focuses on developing the skills, passions and motivations of local people to mentor young people, in particular those at risk of not flourishing in society.  Through our schools-based mentoring programme, young people ranging in age from 5-18 experience transformation in behaviour, selfconfidence and self-esteem, which results in keener engagement, more aspirational goals and higher levels of achievement.  A particular highlight this year has been a grant from the South Yorkshire Police, Violence Reduction Unit, to reduce fixed-term exclusion.  Our project aims to provide early intervention to young people displaying anger issues, violent tendencies or living in a household where domestic violence occurs.  The grant also enabled us to move into the virtual world with the purchase of tablets to keep them connected.  Our success has led to another round of funding to begin in September 2021. As we continue enhance our provision online we also delivered a six week summer well-being programme for Doncaster Council to support local young people with their mental health post Covid 19. We have engaged in group work with 51 and provided one to one mentoring for 176 children and young people between September 2020 and 31st August 2021. 

5 



## **THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES For the Year to 31 August 2021** 

## **Huddersfield** 

Worth Unlimited Huddersfield operates from Longley and Lowerhouses Community Church, providing youth clubs and other food and learning related programmes for the children and adults of Longley and Lowerhouses Area.  We started the year under restrictions resulting from Covid-19 which meant that we were unable to run our usual programmes.  We continued to support local families through lockdown by a combination of weekly telephone calls, door-step visits, craft bag drop-offs and twice weekly food deliveries (between January and June 2021) the contents of which were provided by Huddersfield Mission.  We supported 54 children and 25 adults over the year. By the summer, Covid restrictions were lifting and we were able to run our usual holiday lunch club with a twist - instead of a sit down meal in the hall, we provided a two-course meal takeaway for 12 families (13 adults and 47 children) providing 831 meals over the summer holidays.  We also worked with one family to make a mini children’s library which was stocked with books, courtesy of the ‘Ladies of Longley Road’ group, and is well used by parents and children on the way to and from school. 

## **Kidderminster** 

A new branch in Kidderminster was launched in January 2020, although progress of development has been limited by the pandemic.  Our team has been supporting children, young people and families on the Comberton and Offmore estates primarily through food parcels and community activities and events in school holidays. 

## **South Kilburn, London (OK Club)** 

The OK Club works with children, young people and families in Kilburn, providing activities such as drop in clubs, sports and health programmes, homework support, cooking and life skills workshops, drama and art projects and school holiday programmes.  Since our relaunch back in September, the OK Club has completed a summer holiday programme in partnership with local primary and secondary schools.  These activities were funded over the six weeks holiday, targeting children who qualify for free school meals (as well as our young people from the OK Club).  Feedback received from children and families has been incredibly positive, and it was a good learning experience for us, venturing into this area.  We have built links with community assets in our locality, developing a fledgling partnership with The Granville Community Kitchen which will see them using our garden to grow organic vegetables for their Good Food Box, sold locally at affordable prices.  In return, they provide us with advice, maintenance support and assistance with our monthly gardening programme. 

## **Lincolnshire (The Oasis)** 

The Oasis is a social and therapeutic garden, a peaceful and restorative environment in which young people can engage in self-discovery, improve their physical and mental health and develop their practical, communication and thinking skills, emotional intelligence and character.   The brilliant founder of this project, Alison Merryman, retired from the project in May 2021 and we have struggled as a result to keep the project active, although a fantastic team of volunteers has been maintaining and developing the site.  We concluded the year in negotiations with another large charity based in Lincolnshire about a transfer of the project which would give it greater capacity and local drive and therefore better chance of reaching its huge potential. 

## **Loughton (Spark)** 

Spark provides a range of counselling and mentoring services for children and young people, both in primary and secondary schools and in the community.  We have continued to benefit from multi-year funding, which both ensures our survival in the short term and provides us with time to develop more sustainable funding options.  Since March 2021, we have employed a dedicated Family Support Worker, paid for additionally through this same funder.  This has enabled us to provide holistic support to families, as well as group support for parents, through our popular parenting programmes.  We were able to continue providing remote one-to-one support during the various lockdowns, enabling young people to access our service when much other support had been stopped.  It was wonderful to be able to restart our face-to-face service in April 2021, but heartbreaking to see how many more young people were in need of our service following the pandemic.  We were able to step up our service to cope with demand, providing one-to-one support for around 200 individuals through more than 3000 counselling and mentoring sessions, as well as running commissioned art therapy workshops.  We are fortunate to be nominated as Chigwell Golf Club’s charity of the year, and to benefit from individual sponsorship endeavours, such as the London Marathon. 

## **Waltham Forest** 

Worth Unlimited in Waltham Forest works with young people and families from communities of social deprivation.  We work at building supportive, lasting relationships where young people and participants feel valued.  We provide and help young people to engage in positive activities, where they can develop skills and create community.  From September 2020 until March 2021, we ran Youth Club sessions in Priory Court Estate and Langhorne Park (Cathall Estate area), and ran weekly detached/outreach sessions in three areas: Priory Court, Langhorne Park and Leyton Manor Park (Beaumont Estate).  These sessions have enabled young 

6 



## **THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES For the Year to 31 August 2021** 

people to access information and support from trained youth workers, whilst engaging in activities such as cooking, games and quizzes.  We were very excited this year to receive funding to purchase a new youth bus/ vehicle, allowing us to replace our old vehicle, which is no longer road-worthy.  We are working on the designs for this vehicle with the young people.  We were able to take young people on two separate one-night residential trips in the summer, one to Hawkswood in Chingford and one to the South Downs, as well as running an environmental project with young people from Priory Court.  This year has been challenging again, as we have had to adapt to the changing Covid lockdowns and restrictions.  However, this has given us the opportunity to continue to work with more young people on a one-to-one basis as we have contacted them through regular check-in telephone calls and mentoring sessions: we have supported 18 young people in this way.  Throughout 2020-2021, we recorded that we worked with a total of 186 young people, however the numbers are higher than this, as we are often working with young people in communities that are hard to reach who are less willing to supply their contact details. 

## **SAFEGUARDING CHILDREN AND YOUNG PEOPLE** 

As a provider of youth work services, we are keen to work with young people to reduce the abuse that they sometimes suffer, ensure that they are safe while engaging in our activities and are cared for when dealing with the consequences of abuse.  The Board continues to give priority in ensuring that our policies are up to date, our staff training is appropriately implemented and the correct action is taken when allegations are made. 

## **FINANCIAL REVIEW AND PLANS FOR THE FUTURE** 

The challenge of running a charitable organisation in these economic times continues to be a significant area of attention.  Over recent years, our income from statutory funding sources has reduced from somewhere in excess of £150k to now less than £20k.  We are grateful to have made it this far and continue to work hard at diversifying income streams which increase our ability to be sustainable in the coming years. 

The trustees wish to place on record their appreciation of hard work, passion and commitment that the staff and volunteers of the organisation generously give.  We also recognise those individuals and organisations who have sacrificially supported us over the past year as well as those who have participated in various personal physical challenges to raise funds. 

Our restricted income for the year was £480,572 and we ended the year with £276,224 yet to be spent on specific projects.  In addition, we received unrestricted income of £214,677 with expenditure of £241,915. 

Notwithstanding all of the challenges that we have faced, the board of The Worth Foundation are optimistic about the future of the organisation and its ability to help young people and the communities in which they live.  We are looking forward to launching a number of exciting projects during the coming year, as well as continuing our wide range of youth work activity. 

## **Reserves Policy** 

The charity aims to maintain unrestricted reserves at a level sufficient to cover three months of staff salary costs. In order to be clearer about funds that are actual free reserves, the trustees introduced a Designated Reserve fund in 2018. 

The current position of this fund is £96,800, which is an improvement on our previous financial year (by 10%) but still lower than desired.  In the current climate, it continues to be difficult to increase the current position quickly, but the board remains committed to doing so.  It should be noted that a large number of our workforce are on fixed-term employment contracts which are linked to the dates of the grant funding which funds their work, thus reducing our liability for redundancy payments.  The position of these contracts is kept under review so as to comply with appropriate employment legislation. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Executive Leadership** 

The charity is managed by a leadership team, consisting of a National Director (Matt Perry) and Development Director (Debbie Garden).  A third post within this team was Director of Vision and Strategy, held by Tim Evans, until March 2021.  Tim resigned from his post with Worth Unlimited following 17 years of employment and the Trustees decided not to recruit into this post.  The Trustees wish to place on record their gratitude for his long, dedicated service to the organisation. 

7 



THE WORTH FOUNDATION LIMITED
IA Company Limited by Guarantee)
REPORT OF THE TRUSTEES
For the Year to 31 August 2021
Governlng document
The charity is a company. limited by guarantee, and is govemed by ils Memorandum and ArtiC￿S ol Assoaab"on.
Decisions are taken by majority vote. The Chair holds a casting vote.
The charity has a whollY￿wned subsidiary company engaged in soci25 enterprises, Worth Enterprises timiled.
Appointment and Induction of trustees
Trustees ar8 appointed by the 802rd The Artides of A550C13tion provide lor a minimum ol live and a maximum
ol tèn trustees. New tiuslees underw an irbducb.on to brief them on their O￿lgationS un(Jer charity and
company law and the deoslon-mk￿.ng process ofthe charity.
Risk managèment
The trustees have identified and reviewecj the rlsks to vthich the chaiity is exposed and ensure appropriate
controls are in pla￿ to provide reasonable assuiance against fraud and error. The Board kK)Ids a Risk Register
whith is regularty reviewwy and updated.
Publlc Benefit
The trustees have reviewed the charity's activities in respect ol public benefit a8 required by the Charity
Commission and believe they comply.
Trustees, Respon$*bilities in Relation to the Financial Stalgments
The Trustees are responsible lor preparing the Tru5tees' Report 2nd the fiDanaal statements in accordance wth
2pplicable18w and United Kingdorn Acc￿nting Standards Iunited ￿'ngdoM Generally AcTrpted Accounts"ng
Practi￿1.
Company law requirès the Twstees to prepare financial statements fof each financial year. Undei company law
the Trustees mugt not approve the financi81 statements unless they are satisfied that they give 8 true and fair view
of the stale of affairs of the charitable company and of the incoming re50uiTrs and applicats.on of resources,
including the income and expenditure. ol the charitable wmpany for that perlod.
In pr¢pariw these financial statements, the Trustees are required to..
select suitèble accounting policies and then 8pply them consistontly".
make judgements and accounting estim*es that are reasonabl6 8nd wudent.,
observe the methods and principles in the Charities SORP".
prepare the finarrial statemen15 on the going ¢on¢ern basis unless it is inappropTrate lo presume that the
company will continue in business.
The TrLJStees are responsible lor keeping adequate a¢counling records that are sufficient to show and explain the
Gharilable company's transactions and disc105e wlh reasonable atturacy at any time the firianaal position of the
charitable company 8nd to enabie them to ensure that the financial statements comply with the Companies Act
2006. They are a4s0 responsible for safeguarding the assets of the charitable company and henTr lor
ON BEHALF OF THE BOARD..
R Lampard- Trustee
D8ted'.

INDEPENDENT EXAMINERS REPORT
TO THE TRUSTEES OF THE WORTH FOUNDATION LIMITED
IA Company Limited by Guarantee)
I report lo the charity Trustees on rny examinab.on ol the arxounts of the Chanty for the yèar ended 3191
Auousl 2021 which are set out on pages 10 to 24.
Rèsponslbllltle8 and basi$ of report
As the charity Trustees ol the company land also ils directors for the purposes of company 18wI you are
responsible for the prep8rab.on of the accounts in accordance with the requirements of the Companies Act
20061'the 2008 Act'l.
Having satisfièd tnyself that the accounts ol the ¢haiity are not required to be audited under Part 16 of the
2(K)6 Act and a￿ eligible for independent examination, I report in respect of my examination of your tharity's
a¢¢tsunts as carried out under section of Ihe Charibes Act 2011 I'lhe 2011 Acl'l. In carrying out my
examination I h8ve followed the DIr￿￿On$ given by the Charity Commission undei sects'on 14515llbl of thts
2011 Act.
Independent examinèes statement
Sincethe Charitable compsny's gross incom6 ex¢eeded £2￿,000 your examiner mwt be a member ofa b￿Y
isted in section 145 of the 2011 Act. I confrrn that l am qualified lo undertake the examination because l am
a member ol The Insts'tute ol Chartered Accountants in England and Wales, which Is one ol the listed bodies.
I have completed my examination I confirm that no matters have ccmne lo my attention in LY)nnection with
the examillation giving me cause to believe that In any material resp￿..
1. accounting records were not kept in respect of the charitable company as rèquired by secty'on 386 of the
2m6 Act.. or
2. the accounts do not ai£ord Vwith ihose record$.' or
3. the ac¢ounts do not u)mply ￿fjth the accounting requirements of section 396 of the 2006 Act other than
any requiremenllhat the accounts give a'true and fairview, whith is not a matter considered as part of an
independent ex8mination,' or
4. the accounts have not been prepared in aoEordanc8 with the methods and principles of the Statement of
Recommended Practi￿ for 8ccounting and reporting by Charities applicable to ch8rities preparing their
accounts in accordancewith the Financial RepotbTrJ Standard applicable in the UK and Republic of Ireland
IFRS 1021.
I have no con￿MS and have ctsrne auoss no other matters in connbthon with the ex8minalion to whi
attentK)n should be drawn in this report in ortler to enable a pioper understanding of the accounts to be
reached.
St&ven R MugglestOn8
Michael Hapwood & Co
Chartered Accountants and Registered Auditors
Greville House
10 Jury Street
Warwick
CV34 4EW

**THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)** 

## **For the Year Ended 31 August 2021** 

|**Unrestricted**<br>**funds**<br>Notes<br>**£**<br>**INCOME AND ENDOWMENTS FROM:**<br>Donations and Grants<br>2<br>63,226<br>Charitable activities<br>3<br>121,732<br>Investment income<br>4<br>-<br>Other income<br>5<br>29,719<br>**Total**<br>214,677<br>**EXPENDITURE ON:**<br>Raising funds<br>240<br>Charitable activities<br>6<br>241,675<br>**Total**<br>241,915<br>**Net incoming/(outgoing) resources being net**<br>**expenditure for the year**<br>(27,238)<br>**Transfers between funds**<br>38,483<br>**Net movement in funds**<br>11,245<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>120,071<br>**TOTAL FUNDS CARRIED FORWARD**<br>15<br>131,315|**Restricted**<br>**funds**<br>**£**<br>447,313<br>33,259<br>-<br>-<br>480,572<br>5,500<br>444,181<br>449,681<br>30,891<br>(38,483)<br>(7,592)<br>283,816<br>276,224|**Year ended**<br>**31.08.21**<br>**Total**<br>**funds**<br>**£**<br>510,539<br>154,991<br>-<br>29,719<br>695,249<br>5,740<br>685,856<br>691,596<br>3,653<br>-<br>3,653<br>403,887<br>407,540|**Year ended**<br>**31.08.21**<br>**Total**<br>**funds**<br>**£**<br>510,539<br>154,991<br>-<br>29,719<br>695,249<br>5,740<br>685,856<br>691,596<br>3,653<br>-<br>3,653<br>403,887<br>407,540|
|---|---|---|---|
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|||||
||||407,540|



10 



## **THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)** 

## **For the Year Ended 31 August 2020** 

|**Unrestricted**<br>**funds**<br>Notes<br>**£**<br>**INCOME AND ENDOWMENTS FROM:**<br>Donations and Grants<br>2<br>61,865<br>Charitable activities<br>3<br>138,676<br>Investment income<br>4<br>335<br>Other income<br>5<br>47,325<br>**Total**<br>248,201<br>**EXPENDITURE ON:**<br>Raising funds<br>249<br>Charitable activities                                                 6<br>270,905<br>**Total**<br>271,154<br>**Net incoming/(outgoing) resources being net**<br>**expenditure for the year**<br>(22,953)<br>**Transfers between funds**<br>29,472<br>**Net movement in funds**<br>6,519<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>113,552<br>**TOTAL FUNDS CARRIED FORWARD**<br>15<br>120,071<br>|**Restricted**<br>**funds**<br>**£**<br>663,618<br>51,036<br>-<br>-<br>714,654<br>14,226<br>489,805<br>504,031<br>210,623<br>(29,472)<br>181,151<br>102,665<br>283,816|**Year ended**<br>**31.08.1920**<br>**Total**<br>**funds**<br>**£**<br>725,483<br>189,712<br>335<br>47,325<br>962,855<br>14,475<br>760,710<br>775,185<br>187,670<br>-<br>187,670<br>216,217<br>403,887|**Year ended**<br>**31.08.1920**<br>**Total**<br>**funds**<br>**£**<br>725,483<br>189,712<br>335<br>47,325<br>962,855<br>14,475<br>760,710<br>775,185<br>187,670<br>-<br>187,670<br>216,217<br>403,887|
|---|---|---|---|
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||||403,887|



11 



THE WORTH FOUNDATION LIMITED
IA Company Limited by Guarant•èl
BALANCE SHEET
At 31 August 2021
31.08.21
Total
funds
31.08.20
Totsl
ftjnds
Unre8trict•d
Funds
Restrleted
fund$
Notes
FIXED ASSETS
Inve5ttDents
12
CURRENT ASSETS
Debtors." amounts falling due within one year
amounts falling due after one year
C8sh at bank
13
17.777
15,607
104,724
40.000
57,777
15,807
342,986
9.244
15,685
387,889
238,262
138.108
278.262
416.370
412.818
CURRENT LIABILITIES
Creditors.. atnounts falling due within one year
14
16,7931
12.0381
18.8311
18,9321
NET CURRENT ASSETS
131315
276 224
407,539
403,886
NET ASSETS
131316
276,224
407,540
403.887
FUNDS
Unrestricted funds
Designated funds
Resth"cterl funds
15116117
34.516
96,800
276 224
32,271
87.8(K)
283,816
TOTAL FUNDS
407,540
403 887
For the year ended 31* August 2021 the chaiitsble company was enlilled lo exemption trom audit Lnder Section
477 of the Companies Act 20￿ relating to small eomp8nies.
Trusteès acknowledge thèir responsibility foro)mptying with the reqU1￿MentS olthe Comp￿leS Act 2(￿6 with
respect to ￿OUntIng rewrds and the preparation ol accounts.
The rnembers have not required the charrtable company lo obtain an 8udll of its a￿OUnts for the year in question
in a￿(￿03￿ce wth sectiw 476 of ￿ Companies Act 2016.
The Financiol Statements on pages 10 to 24 were 8pprov&J on behalf ol the Trustees by
R Larnpard- Trustèe
Dated..
12

**THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **CASH FLOW STATEMENT** 

## **For the Year Ended 31 August 2021** 

|<br>**CASH FLOW FROM OPERATING ACTIVITIES**<br>Net Movement in Funds – (Outgoing)  per SOFA<br>Adjustments for:<br>(Increase) / Decrease in Debtors<br>(Decrease) / Increase in Creditors<br>**Net Increase / (Decrease) in Cash and Cash**<br>**Equivalents**<br>**Opening Cash and Cash Equivalents**<br>**Closing Cash and Cash Equivalents**<br>**Cash at Bank at the Year End**|**2021**<br> <br>**£**<br>3,653<br>(48,455)<br>(101)<br>(44,903)<br>387,889<br>342,986<br>342,986|**2020**<br>**£**<br>187,670<br>2,318<br>(9,323)<br>180,665<br>207,224<br>387,889<br>387,889|
|---|---|---|



13 



## **THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 August 2021** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparation** 

The financial statements have been prepared in accordance with the methods and principles of the Statement of Recommended Practice (Charities SORP 2019 (FRS 102). 

## **Income** 

Voluntary income and donations are accounted for once the charity has entitlement to the income and it is probable that the income will be received. Grants are accounted for as receivable on a pro-rata basis. Any grants received before the year end in respect of a period that ends beyond the year end are deferred accordingly. The income from fundraising ventures is shown gross, with the associated costs included in the fundraising costs. 

## **VAT** 

Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities. 

## **Expenditure** 

Resources expended are recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. 

## **Charitable activities** 

The sole charitable activity is the operation of a Christian youth work agency. Charitable expenditure comprises all direct expenditure in respect of support of workers, training and other direct expenses relating to specific projects. Staff costs are charged to restricted funds by reference to an estimated percentage of their work done throughout the year. 

## **Governance costs** 

These represent the costs of complying with statutory requirements. 

## **Taxation** 

The company is a registered charity and is therefore exempt from taxation under Chapter 3 of Part 11 of the Corporation Taxes Act 2010. 

## **Investment in trading subsidiary company** 

The investment in a wholly owned trading subsidiary company has been reflected at the historical cost of acquiring the subsidiary and is considered to be fairly stated in light of the fairly modest net asset value of the subsidiary at the balance sheet date. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. 

## **Creditors and provisions** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **Fund Accounting** 

The charity maintains two types of funds as follows:- 

## **Restricted funds** 

Restricted funds represent grants, donations and other income received which the donor allocates for specific purposes. 

## **Unrestricted funds** 

Unrestricted funds represent funds that are expendable at the discretion of the Trustees in the furtherance of the objects of the charity.  Such funds may be held in order to finance working capital investment. Designated funds are those funds which are unrestricted in nature but which have been designated by the trustees to be used in a particular manner. 

14 



## **THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 August 2021** 

## **2. GRANTS AND DONATIONS** 

|**GRANTS AND DONATIONS**|||
|---|---|---|
|<br>Donations<br>Big Local Trust<br>Birmingham City Council<br>Charles S French Charitable Trust<br>Children in Need<br>Community Learning Works<br>Dyson Associates<br>Edward Cadbury Charitable Trust<br>Essex Community Foundation<br>Garfield Weston Foundation<br>Groundwork (HS2)<br>Heart of England Community Foundation<br>KFC Foundation<br>Kirklees Council<br>London Borough of Waltham Forest<br>Loose Change Charity<br>National Lottery Community Fund – Reaching Communities<br>National Lottery Community Fund – Youth Investment Fund (Jointly<br>with DCMS)<br>One17 Foundation<br>Other<br>Souter Charitable Trust<br>South Yorkshire Community Foundation<br>South Yorkshire Police & Crime Commissioner<br>St Thomas Dole Charity<br>Subs and Contributions to Activities<br>Transpennine Express (Transform)<br>William Brooke Benevolent Fund<br>Wyre Forest District Council<br>Young Solutions Worcestershire|**31.08.21**<br>**£**<br> <br>96,456<br>100,396<br>-<br>-<br>-<br>-<br>2,208<br>-<br>-<br>-<br>12,915<br>-<br>2,000<br>1,154<br>9,995<br>1,880<br>218,793<br>-<br>2,000<br>5,408<br>3,000<br>1,967<br>17,208<br>-<br>9<br>5,000<br>-<br>20,600<br>9,550<br>510,539|**31.08.20**<br>**£**<br>49,400<br>123,330<br>10,000<br>2,000<br>5,000<br>375<br>2,408<br>3,000<br>3,100<br>45,000<br>33,846<br>2,000<br>-<br>1,500<br>750<br>1,680<br>336,155<br>83,028<br>5,801<br>3,564<br>-<br>5,000<br>-<br>3,000<br>1,546<br>-<br>4,000<br>-<br>-|
|||725,483|



We are also grateful to the following organisations for their small grants: Haslers Foundation, The Cyclist Club, Loughton, Buckhurst Hill & Chigwell Rotary Club, Bite Size Pieces, Church Urban Fund (Near Neighbours) and the Co-op Community Fund (Kirklees). 

15 



## **THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the Year Ended 31 August 2021** 

## **3. INCOME FROM CHARITABLE ACTIVITIES** 

|**31.08.21**<br> <br>**£**<br>Contracted work<br>130,037<br>Fundraising income<br>13,100<br>Other income<br>11,854<br>154,991<br>**4.**<br>**INVESTMENT INCOME                                                                                                31.08.21**<br> <br>**£**<br>Interest on bank current and deposit accounts<br>-<br>**5.**<br>**OTHER INCOME                                                                                                          31.08.21**<br>**£**<br>Furlough Grants<br>29,719<br>**6.**<br>**CHARITABLE ACTIVITIES COSTS**<br> **Direct costs**<br>**Support costs**<br>**(See note 7)**<br>**(See note 8)**<br>**£**<br>**£**<br>Charitable activities<br>628,541<br>57,315<br>**7.**<br>**DIRECT COSTS OF CHARITABLE ACTIVITIES**<br>**31.08.21**<br>**£**<br>Staff costs (note 11)<br>487,149<br>Programme costs<br>165,570<br>Grants paid<br>75,822<br>628,541<br>**8.**<br>**SUPPORT COSTS**<br>Support costs, included in the above, are as follows:<br>**31.08.21**<br>**£**<br>Rent<br>11,18<br>Rates<br>(180)<br>Water rates<br>550<br>Gas and Electricity<br>173<br>Print, post and stationery<br>500<br>Publicity<br>4,329<br>Telephone<br>2,407<br>Office equipment and software and supplies<br>12,517<br>Insurance<br>3,493<br>Maintenance<br>3,589<br>Subscriptions<br>803<br>Professional fees<br>307<br>Bank Charges<br>665<br>Miscellaneous<br>1<br>Independent Examination fee<br>4,374<br>Meeting expenses<br>13<br>Consulting<br>12,671<br>57,315|||**31.08.20**<br>**£**<br>149,256<br>27,290<br>13,166<br>189,712<br>**31.08.19**<br>**£**<br>335<br>**31.08.20**<br>**£**<br>47,325<br>**Totals**<br>**£**<br>685,856<br>**31.08.19**<br>**£**<br>559,252<br>42,055<br>112,918<br>714,225<br>**31.08.20**<br>**£**<br>11,702<br>374<br>372<br>307<br>492<br>5,692<br>1,633<br>8,659<br>3,380<br>3,702<br>1,618<br>462<br>671<br>147<br>4,008<br>284<br>2,982|
|---|---|---|---|
|||||
|||||
||<br> <br>|<br>||
|||||
|||||
|||||
|||||
||||46,485|



16 



**THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the Year ended 31 August 2021** 

## **9. NET INCOMING RESOURCES** 

Net resources are stated after charging: 

Independent examiner’s fee 

|**31.08.21**|**31.08.20**|
|---|---|
|**£**|**£**|
|4,374|4,008|



## **10. TRUSTEES' REMUNERATION AND BENEFITS** 

## **Trustees’ Remuneration** 

No Trustee received remuneration for the year ended 31 August 2021 (2020: Nil) 

## **Trustees' Expenses** 

Trustees' travel expenses amounting to £Nil were reimbursed to Trustees for the year ended 31 August 2021 (2020: £Nil). 

## **11. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Pension<br>Other staff related costs<br> Average number of staff on the payroll during the year<br>The number of full-time equivalent staff numbers were|**31.08.21**<br>**£**<br>397,888<br>25,727<br>25,507<br>38,027<br> <br>487,149<br>25<br>===<br>16<br>===|**31.08.20**<br>**£**<br>455,530<br>28,282<br>29,800<br> 45,640<br>559,252<br>33<br>===<br>16<br>===|
|---|---|---|



No employee earned in excess of £60,000 either this year or last. 

17 



**THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the Year Ended 31 August 2021** 

## **12. FIXED ASSET INVESTMENTS** 

||**Shares in Group**|
|---|---|
||**Undertaking**|
|**COST**||
|At 31stAugust 2021|1|
|**NET  BOOK VALUE**||
|At 31stAugust 2021|1|



The company’s investment in the company below is as follows:- 

**Worth Enterprises Limited** Country of Incorporation: England Nature of Business: Provision of employment opportunities for young people in bicycle maintenance. Ordinary Shares of £1 each 100% held 

Worth Enterprises Limited was incorporated on 9[th] February 2009, commenced trading in December 2011, and made its first accounts to 31[st] August 2012. 

||**At 31.08.2021**|
|---|---|
||**£ **|
|Aggregate capital and reserves (In Deficit)|£(153)|
|Loss for the year|£(3,020)|



The Worth Foundation Limited has taken advantage of the exemption from preparing group accounts conferred by Para 19 (1a) of The Charities (Accounts and Reports) Regulations 2008, on the grounds that the results of the subsidiary are not material for the purposes of giving a true and fair view. 

## **13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade debtors<br>Amount due from group undertaking<br>Prepayments and accrued income|**31.08.21**<br>**£**<br>17,171<br>11,463<br>44,750<br>73,383|**31.08.20**<br>**£**<br>4,319<br>15,685<br>4,925|
|---|---|---|
|||24,929|



## **14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade creditors<br>Accrued expenses and deferred income|**31.08.21**<br>**£**<br>4,100<br>4,730<br>8,831|**31.08.20**<br>**£**<br>4,258<br>4,675|
|---|---|---|
|||8,933|



Income deferred in 2021 amounts to £Nil (2020: £Nil). 

18 



**THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the Year Ended 31 August 2021** 

## **15. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>Birmingham and Solihull<br>Doncaster<br>Huddersfield<br>Kidderminster<br>Lincolnshire<br>Spark<br>Waltham Forest<br>National<br>**Restricted funds**<br>Birmingham and Solihull<br>Doncaster<br>Huddersfield<br>Kidderminster<br>Lincolnshire<br>Spark<br>Waltham Forest<br>National<br>**TOTAL FUNDS**||**At 01.09.20**<br>**£**<br> <br>45,051<br>3,632<br>5,019<br>-<br>4,515<br>30,114<br>24,445<br>7,296<br>120,071<br>141,999<br>4,500<br>4,925<br>478<br>-<br>9,197<br>33,522<br>89,195<br>283,816<br>403,887<br>|**Net**<br>**movement**<br>**in funds**<br>**Interbranch**<br>**Transfers re**<br>**Internal**<br>**Management**<br>**Fees**<br>**£**<br>**£**<br>4,287<br>(862)<br>(784)<br>(666)<br>(1,379)<br>(84)<br>792<br>(79)<br>1,246<br>(269)<br>20,485<br>(3,475)<br>8,264<br>(872)<br>(60,148)<br>43,591<br> <br>(27,238)<br>37,283<br>(106,710)<br>(12,952)<br>9,216<br>(2,918)<br>(2,646)<br>(659)<br>4,922<br>(500)<br>-<br>-<br>11,006<br>(6,538)<br>72,857<br>(13,718)<br>42,247<br>-<br> <br>30,892<br>(37,283)<br>3,654<br>-|**Transfers**<br>**between**<br>**funds**<br>**£**<br>1,200<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>1,200<br>55,465<br>-<br>-<br>-<br>-<br>-<br>(56,665)<br> <br>(1,200)<br>-|**At 31.08.21**<br>**£**<br>49,676<br>2,181<br>3,555<br>712<br>5,492<br>47,124<br>31,837<br>(9,262<br>131,315<br>77,802<br>10,799<br>1,620<br>4,900<br>-<br>13,655<br>92,662<br>74,777<br> <br>276,224<br>407,539|
|---|---|---|---|---|---|
|||||||



## **Designated Funds** 

As stated in the Financial Review and Plans for the Future, the Trustees were mindful of the need to focus on the level of actual free unrestricted reserves. The Reserves Policy as noted on Page 7 states that the charity aims to maintain unrestricted reserves at a level sufficient to cover three months of staff salary costs. The Trustees have set aside £96,800 within the Designated Reserve Fund for this purpose as at the year end. The Designated reserves remain a form of Unrestricted Reserve and the Trustees have the discretionary powers to reverse this policy in the future if they so wish. 

The Unrestricted Reserves Balance at the balance sheet date is as follows: 

|Designated Reserve fund<br>Other Unrestricted Funds|**31.08.21**<br>**£**<br>96,800<br>34,515<br> <br>131,315|**31.08.20**<br>**£**<br>87,800<br>32,270|
|---|---|---|
|||120,070|



19 



## **THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the Year Ended 31 August 2021** 

## **16. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

||**Incoming**|**Resources**|**Movement**|
|---|---|---|---|
||**Resources**|**Expended**|**In Funds**|
||**£**<br>|**£**<br>|**£**|
|**Unrestricted funds**||||
|Birmingham and Solihull|38,330|34,043|4,287|
|Doncaster|9,475|10,260|(784)|
|Huddersfield|922|2,301|(1,379)|
|Kidderminster|792|-|792|
|Lincolnshire|2,987|1,741|1,246|
|Spark|35,129|14,644|20,485|
|Waltham Forest|9,303|1,038|8,264|
|National|117,738|177,887|(60,148)|
||214,677|241,915|27,238|
|**Restricted funds**||||
|Birmingham and Solihull|75,395|182,105|(106,710)|
|Doncaster|29,175|19,959|9,216|
|Huddersfield|8,152|10,797|(2,646)|
|Kidderminster|30,650|25,728|4922|
|Lincolnshire|-|-|-|
|Spark|65,375|54,369|11,006|
|Waltham Forest|167,185|94,328|72,857|
|National|104,641|62,394|42,247|
||480,572|449,681|30,892|
|**TOTAL FUNDS**|695,249|691,595|3,654|



20 



## **THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the Year Ended 31 August 2021** 

**17. RESTRICTED FUNDS  -** Net movement in funds, included in the above are as follows: 

## **Restricted Fund** 

|**As at**<br>**01.09.20**<br>**Incoming**<br>**Resources**<br>**Resources**<br>**Expended**<br>**Transfers**<br>**Between**<br>**Branches**<br>**£**<br>**£**<br>**£**<br>**£**<br>Big Local Trust (Firs & Bromford Local<br>Partnership<br>39,580<br>95,616<br>(35,086)<br>(55,465)<br>Big Local: Firs & Bromford Neighbours<br>Together (events)<br>-<br>-<br>(1,030)<br>1,215<br>Birmingham City Council (Cleaner,<br>Greener)<br>4,625<br>-<br>(338)<br>-<br>Clarion Housing Association – Priory Court<br>Youth Club<br>68<br>2,178<br>2,246<br>-<br>Co-op Local Community Fund<br>508<br>939<br>(1,446)<br>-<br>Coronavirus Emergency Fund<br>1,950<br>-<br>(1,414)<br>-<br>Edward Cadbury Charitable<br>Trust<br>3,150<br>-<br>(3,000)<br>-<br>Enterprise Investment Fund (& Dare 2<br>Funds)<br>13,799<br>-<br>(1,216)<br>-<br>Epping Forest District Council<br>1,595<br>-<br>(1,595)<br>-<br>Essex County Council<br>-<br>5,375<br>(538)<br>-<br>Essex Community Foundation - Spark<br>1,090<br>-<br>(1,090)<br>-<br>Friends of Jubilee Park<br>750<br>-<br>-<br>-<br>Garfield Weston Foundation<br>33,750<br>(15,000)<br>-<br>Groundworks – HS2 Funding<br>4,573 12,915<br>(16,899)<br>-<br>The Heritage Lottery Fund<br>10,440<br>-<br>-<br>-<br>KFC Foundation<br>- 2,000<br>(200)<br>-<br>Kirklees Council – Holiday Activity Fund<br>- 1,125<br>(1,125)<br>-<br>Kirklees Council – Its Up to You<br>1,350<br>-<br>-<br>-<br>Leyton Community Action<br>-<br>2,143<br>(214)<br>-<br>Listen Threads Grants<br>360<br>-<br>(360)<br>-<br>Loughton Town Council<br>900<br>-<br>(900)<br>-<br>Lowerhouses Older People’s Meal<br>460<br>-<br>-<br>-<br>Mobile Youth Venue Fund<br>8,020 39,700<br>(6,000)<br>-<br>National Lottery Community Fund - Spark<br>5,612 60,000<br>(56,784)<br>-<br>National Lottery Community Fund –<br>Waltham Forest<br>24,684<br>123,164<br>(99,585)<br>-<br>Souter Charitable Trust<br>-<br>3,000<br>(3,000)<br>-<br>South Yorkshire Community Foundation<br>4,500<br>1,967<br>(6,020)<br>-<br>South Yorkshire Police & Crime<br>Commissioner<br>- 17,208<br>(9,438)<br>-<br>Thrive Together – Safe Spaces<br>2,067 8,850<br>(10,917)<br>-<br>Together We Can (The Lottery Community<br>Fund - Reaching Communities and Firs<br>and Bromford Neighbours Together)<br>116,901 62,480<br>(172,015)         54,250<br>Transpennine Express (Transform Grant)<br>- 5,000<br>(4,218)<br>-<br>Urban Change Makers<br>- 175<br>(175)<br>-<br>Wendy’s Fund<br>2,607 6,088<br>(8,885)<br>-<br>Wyre Forest District Council small grant<br>478            21,100<br>(18,682)<br>-<br>Young Solutions<br>- 9,550<br>(7,546)<br>-<br>283,815<br>480,572<br>486,964<br> -|**Transfers**<br>**Of Funds to**<br>**Cover**<br>**Overheads**<br>**As at**<br>**31.08.21**<br>**£**<br>**£**<br>(1,200)<br>43,444<br>-<br>185<br>-<br>4,287<br>-<br>-<br>-<br>-<br>-<br>536<br>-<br>150<br>-<br>12,583<br>-<br>-<br>-<br>4,838<br>-<br>-<br>-<br>750<br>-<br>18,750<br>-<br>588<br>-<br>10,440<br>-<br>1,800<br>-<br>-<br>-<br>1,350<br>-<br>1,929<br>-<br>-<br>-<br>-<br>-<br>460<br>-<br>41,720<br>-<br>8,827<br>-<br>48,263<br>-<br>-<br>-<br>447<br>-<br>7,770<br>-<br>-<br>-<br>61,616<br>-<br>782<br>-<br>-<br>-<br>(191)<br>-<br>2,896<br>-<br>2,004<br>(1,200)   276,224|
|---|---|



21 



**THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the Year Ended 31 August 2021** 

## **17. RESTRICTED FUNDS - continued** 

The nature of the work carried out under certain of the various Restricted Funds above includes the following: 

Big Local Trust (Firs and Locally Trusted Organisation for Firs and Bromford Neighbours Together. Bromford (Big Local Administering funds on behalf of the Big Local Trust Partnership) 

Big Local: Firs and Bromford Neighbours Together (events) 

Youth and community activities to support the Big Local programme. 

Birmingham Council (Cleaner, A cabin and other resources for Community Forest Space. Greener) 

- Clarion Housing Association – Youth Work & basketball sessions on Priory Court. Funding continuing but Priory Court Youth Club matched / merge with National Lottery community Fund income. 

> Co-op Local Community Fund Cooking and crafts in Lowerhouses, Huddersfield 

Coronavirus Emergency Fund Funds from St Thomas Dole and Heart of England Foundation for food and wellbeing packages during lockdown 

Edward Cadbury Charitable Purchase of specialist music tech equipment. Trust 

- Enterprise Investment Fund (& For investment in Worth Enterprises as required for new start up social Dare 2 funds) enterprises. 

- Epping Forest District Council Delivery of Livewell Nurture Programme Essex County Council Delivery of family support programmes. 

- Essex Community Foundation From Wilkinson Family Fund – Provision of Youth Club in Loughton - Spark 

- Friends of Jubilee Park Funding from Church Urban Fund – Near Neighbours to support community activities in the park 

Garfield Weston Foundation Core costs grant supporting the growth and development of the organisation. 

- Groundworks – HS2 Funding Worth Enterprises Hub (Birmingham) – training and participation. The Heritage Lottery Fund “Stories from Storey’s” project – young people recording stories from members of the neighbourhood. 

- KFC Foundation Delivery of Mentoring sessions in Doncaster schools. 

- Kirklees Council – Holiday Food and activities for school holiday provision i Activity Fund 

- Kirklees Council – Its Up to 3 x small grants for Community BBQ, Community notice board and summer trip You 

- Leyton Community Action Youth Projects in Leyton Listen Threads Grants Small grants for the development of the Listen Threads social enterprise Loughton Town Council Provision of Youth Club in Loughton 

22 



**THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the Year Ended 31 August 2021** 

## **17. RESTRICTED FUNDS – continued** 

Lowerhouses Older People’s Meal 

Funds raised from Meal Club 

Mobile Youth Venue Fund 

Funds raised for Mobile Youth Venue bus expenses & purchase of a new vehicle 

National Lottery Community Fund - Spark 

National Lottery Community Fund – Waltham Forest 

Delivery of Counselling, Mentoring & family support services in South West Essex (includes £20K Covid support grant) 

Youth Bus and other youth work sessions around Waltham Forest 

Souter Chartable Trust 

Delivery of Mentoring sessions in Doncaster schools 

South Yorkshire Community Delivery of Mentoring sessions in Doncaster schools Foundation 

South Yorkshire Police & Crime Delivery of Mentoring sessions in Doncaster schools Commissioner 

Thrive Together – Safe Spaces 

Together We Can (The Lottery Community Fund – Reaching Communities and Firs and Bromford Neighbours Together) 

Supporting churches, organisations and youth workers to provide safe spaces for young people in Birmingham 

Partnership project with Open Door Community Foundation to offer support services and community building activities in Firs and Bromford Area. Jointly funded by Big Lottery Fund (Reaching Communities) and Firs and Bromford Neighbours Together. A year grant ended in December 2019, when a further one year was granted as well as a 6 month extension with National Lottery Covid-19 funds. 

Transpennine Express Delivery of Mentoring sessions in Doncaster schools (Transform Grant) 

Urban Change Makers Leadership development programme 

Wendy’s Fund 

Support from One17 Foundation, Firstfruits Foundation and Loose Change Charity for Salary of Youth Worker and general project costs. 

Wyre Forest District Council small grant Young Solutions 

Food parcels, wellbeing packages and seasonal activities in Kidderminster 

Food parcels, wellbeing packages and seasonal activities in Kidderminster 

23 



**THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the Year Ended 31 August 2021** 

## **18. RELATED PARTY TRANSACTIONS** 

The charitable company has a wholly owned subsidiary, Worth Enterprises Limited, a company incorporated in the UK and which commenced operating in December 2011. Worth Enterprises has twin aims in providing worthwhile employment for young people and making a trading profit from its main trading activity, namely bicycle maintenance. During the year ended 31[st] August 2021 Worth Enterprises Limited made a loss of £3,020 (2020: Profit of £20,239). At 31[st] August 2021 Worth Enterprises Limited owed The Worth Foundation Limited £15,607 (2020: £15,685). 

Worth Unlimited made grants during the year amounting to £75,822 (2020: £104,145) to Open Door Community Foundation, a charity in which the Chief Executive of Worth Unlimited, Tim Evans is the Chair of Trustees.  Tim Evans resigned from The Worth Foundation Limited in March 2021 

The Worth Foundation Limited has taken advantage of the exemption from preparing group accounts conferred by Para 19 (1a) of The Charities (Accounts and Reports) Regulations 2008, on the grounds that the results of the subsidiary are not material for the purposes of giving a true and fair view. 

## **19.      PENSION COMMITMENTS** 

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension charge amounted to £25,507 (2020: £29,800). The outstanding contributions due at the balance sheet date amounted to £ Nil (2020: £Nil). 

24