Company registr8tKin number: 03383009 Charity registration number. 1070693 Young Somerset (A company limled by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024 ocm acmole Young Somerset Contents {contlnued) Reference and AdmIniStra￿Ve Details Twstees, Report 2to7 Indep•ndent Auditors, Report 8t011 statement of Finan¢i81 Activities 12 Balance Sheet 13 statement of Cash Fl<)ws 14 Notes to the Financlal Statements 15to28 Young Somerset Reference and Admlnlstratlve Details Chhf Ex•cutiv• Officer Mr N Harwood Trustees Mr Stuart Gilbert Rance - Chairman Mr Davtd Charles Elstone - Vice Chairman Mrs Claire Tough Ms Julie Sarah Bigg8 Mr Richard Tumer Mrs Stephanie Noyce Mrs ljlaggie Forkes (appointed 23 May 2023 & resigned 31 May 2024) Mrs Jodie Loveday- Treasurer Mrs Ethna Bashford Miss Lauren Holland Secretary Mrs Victorp Trebllcock Charlty Regi3tratlon NuM￿r 1070693 ompany Reglstration Number 03363009 The charty is incorporated In England and Wales. Unit 2 sUp￿Ma Estate Edington BrKl9water Somers8t TA7 9LF Registerad Office Auditor A C Mole LLP Stafford House Bl*kbrook Park Avenue Taunlon Somerset TA12PX Page 1 Young S¢)mersot Trustees. Report The trustees. who are directors for the purposes of company law, present the annual report together with th• financial statements and auditor8. report of Ihe charitable company for the year ended 31 March 2024. Obi•GUvas and actlvlllo5 Obi•cts and alms Young Scffjerset is the primary youth work organisation In Somerset. Our mission is to put young people Ilrst by working with th￿, rAOt doing ttrmngs for theJn or to them. YOU￿ Somerset engwjes and supports young pecple in a range of sc¢lal. economic. educational and recreational cpportunities designed to encouwe social inclusion and lrfe-long learning. We he y￿ung people navigate through diffU￿t tirnes in their liveÈ wilh the aim of building a more ¢onfid8nt *Xrtlook for the future by: . Addresslng the Issues of exclusion, Isolation and disadvantage . Increasing the take-up of educatlon. training, emplownent enterprlse opportunities . Encouraging ccffimunity regeneralion through good citizenshlp and pathi)ation . Engaglng and providing access to infornRtion. advlce and guIdar￿8 . Generating and participaling in partnerships involving young people and stakeholders . Involviry youThJ people in the 0rgani8at1￿'S developmenl and delivery . Enabllng the voic8 of Y￿n9 peopl8 to be heard In thèir ¢ommuniiies . Actuig as a voica for the voluntary and community youth sector . Establishing projects to respond to local need Ensurlng our work dellvers our aims Young Somerset revlews its aims, obj8¢tives and actlvibes on a regular basis. We have referred to the guhJ8nce ¢ontain8d in the Charity Commission's general guidance on public benefft reviewing our airns and cl)jectlves and in planning our future activltles. When making decisions, the Trusteés aws wnslder planned 8Ltivities will ¢ontribute to the aims and objectives they have set. Publi¢ beneflt Yourg people in Somerset ar8 goiThJ through a turbulent tvne. Not only ara they dealing wfth well documented chlldhood trauma issu8s such as bUl￿n9, domestic abuse and poverty, théy are now confronted with the ongoing effects of the cost￿-11V1ng crBis. post cO￿d isolation issues. soGial media and an overextended education system with record levels of ￿sence. It is against this ba¢kdr(¥) that YOUNJ Sornerset OP8rat8s. During the past year, Young Somerseys leam of 120 6taff has hèlped almost 6,000 young people through our three core areas of delivery. .Targeted Youth Support .Altemative Educaticffl Provision .Mental Heth and Wellbeing Page 2 Young Somerset Trustee5' Report (contlnued) Targeted Youth Support r Mosatc division ckjsed at the end of Octoter 2¢Y23', however. our Targeted Youth Support Team continues to make a positive impact supporting young people who have high levels of need risk and Ineiability by deploying youth workers alongside clinical and safety response ¢ollea9ues jCAMHS. Children's Social Care, Avon & Somerset Poli￿}. Umbrella offers youth club 8UPPOrt for young people experiencing mild to moderate mental heallh issues, social isolation and emotional distress arKI utifises a traditsonal youth work methodolc¥Jy to allow young people to build peer-SUPPOrt netsyoths. improve confidence, engage in education and reduce social isolation. Young people can also receive support from the youth workers in the form of 1.1 mentoring, supporting them to build on their prTrsock81 development gained in the groups by working wtth them in the cornmuntty to m*e their ovffl infrirmed decisions for change. Currentty this service is posrf(ively impading young people to reduce social isolation and incr&35e Education 2tt6ndance, currenlly education attendance has increased by an average of 300/a. Alternative Education Provislon Young Somerset is proud of its unique provlslon using youth workers to support leaming lor children and young people not in educatlon, employment or trainlng and for whom the mainstream education provision does not work. Our youth workers focus on the young person's needs and aspirations. building relationships 1..1 or in small group5 and leading with positive role modelling. The Bokl & Brave enterprlse inrf(lative has grown from strength to strength with the Shop and café both operated by young people. The café in Taunl¢X Libwy has just celebrated its first blrthday and has loyal and growing clientele. Fooffall in the lilxary has increased by 220A since tha café opened. We also prowde 8ccredltod courses in a wide Tange of activities ￿1¢h include motor mechanics. art, digital skills, music community activities, hospitalty and business. It is our airn to help these young people move on to long te￿n employment with their new-found skills and confidence supported by our trained job coaches. Mental Health and Wellbeing Our Ccxnmunity Wellbelng and Mental Health Suwjort Teams continue to reach young people Mfjth mIl&tr￿mOderale rnental health disorde￿. We have reached over 2.100 young people this year wotking directly 1.1 1 clinical groups. Norrtlinical contacts have reached over 2.244 children and young people, as well as 780 parents. through events, peer mentoring and groups. Through settiig goals and working together. young people learn ways of coping wTth anxiety and low mood arKI how to handle dIff￿ult situations in th8 future. Our staff SUFPOrt Mindline (Somèrsevs 24-hour ment81 hoalth phone helpline), by manning their helplines In the evonings and weekends. On wfftge we take 80 calls por week, calls that might be missed rf the phone lines were ¢108ed. The trustees confirm that they have complied wllh the requirernents of sectbn 17 of the Chartlies Act 2011 to have du• regard to the public benefit guidance published by the Charty Comm15sion for England arKI Wales. Page 3 Young Somorsot Tn￿te9$. Report (continued) Flnanclal revlew Overall parformance During the past 3 years. Young Somersat has been unable to spend all the funding alocabj to it. This is mainly due to Covid restrictKins meaning tt wa3 more difficult to reach young pecyle. This urKlersperKI had the full support of funders with the understanding that these funds would ￿ used for their intended purpose in the short tenn. The Trustees are pleased to re￿1 that these funds were spent in the year. The Charity reported a deficit in the accounts of £184.673 which has Ihe full b&king of the Board ￿ Trustees. This Mryll be deducted from the brought forward surplus of £648,312 resulting in an overall Ca￿le￿ forward reser¥E of £463.639. These funds will be h81d 4)plied to eX￿ting and futur8 projects to strenglhen fAir offering to the young people of Somerset. Over the year, the chartty has received inccwne of £3,423,561 Ythich is a 5.47% increase on the previous financ4al year. This is a good resutt considering the backdrq) of k£al council financial slruggle5 and the na1iDnW￿ continued underfunding for young pecple. The Trustees r8cwise that the Senior Leadership Team has worked ￿rd to improve the orwisation's financial position and are pkned with tha level of progre&q mada. Thi5 year has seen a targeted effort to Control costs. ￿iGh has helped manage Ihe overall position. Princlpal funding SOU￿86 Young Somerset applies for grants according to identified priorities m*hed against fundiNJ opportuniti83. We have a well-developed proces5 for bld-writing whereby every grant application goes through a ¢wality assurance process ￿[Ch involves the finance and senior leadership team before final sbJn-off by the CEO. Grants applied for and outeomes ar8 report￿ to the Board on a quarterly basis. In all cases, detalled records ￿ maintslned of numbers of young people using the services provided. SU￿sSful xhi8vement of the objectives fonn part of the feedback to grant awardlng bodies. Policy on res•rves The Balance Sheet shows a reserves surplus at 31 March 2024 of £463.639 (2023 £648.312). The general guidance from the Charty Commission su9Jests that charities should seek to maintain a level of Reserves equivalent lo at least 3 months. operating costs (for Young Somerset this would be equivalent to around £902,058 in the 2023r24 financial year). The charty 15 Worki￿ towards this goal whilst also seeking to deliver effective content over its variety of operatK>ns . As at 31 March 2024. the Charity had unrestriGted reserves of £458.725 12023: £639.564), of this £66.269 (2023: £70,239) held as r￿ed assets. £7.260 (2023: £5.468) as stock and £Nfi {2023: £228,000) designated funds, leaving free reserves of rJ85.19612023.' £335.857). The Trustees report Ihe balan￿ sheet of the Charty is I(￿U$L There are signifKant financial and monitoring controls in place to ensure the going concem postion of the Charity is strong. not onty supporting ongoing services but a150 the Charitys plans the ctyning short to medium tem) period. Risk management The chariws cagh flow risks mainly relate to ongoing grant lunding. The Sen￿r Le•Yership Team and Trustees dosety mOnitC￿ the financial PDsilion of the charity and strong budgeting pr(￿edureS are in place whero only confinned income is recognised. The ¢harty has no 8lgnificant concentration of credit tsiL The charity is reliant on the Contiwed pMry$ton of seNices to thelr suppliers. The ternily Teview and subsequent renewal of these services ts expected to tske place in the next 6 to 12 months. Page 4 Young Somerset Trustees. Report {¢ontlnued} Plans for future perlods YouT¥J Somersel is a forward Ihlnklng. fast actlng charity. It has a lest and leam" approach to new Ideas and is well placed to ty them out and evaluate their potential. The Senior Leadership Team and Board of Trustees ar8 currontly working on a 5-year business plan with further expansion into Alternative Education Provision. In the m8antime, focus ts on the following .contin￿l growth into famity support and eaty years as Young Sornerset befieves earfy inlervention is e&8ential to child development .Progress a project to improve the diagnosis process for young people V•ith autism and it is our goal to hugety reduce the current 24 months assessment waiting Itst to help young people at the eathest ¢Jpportunity. .Our Altemative Education Provision teams ar8 wrxking on enh8nced work experience and app￿ntiCe$hiP offerings by teaming up with corp)rate partners in Somerset. We are also exploring new Ictations for Bold & Brave shi)ps and ¢afés tr) provide a more countrywide VKJrf( experience apprenticeship offering. .Sett#ig up a WElkbelng drop-in servrce for the Café wh8r8 young people cen connect ￿ryih our team for support and guidance. .We are reVI￿ng the journey of young people through tho organlsation and are actively ￿￿Tking on linking prowsion internally. for exarnple a young person has been through Jigsaw or the Welbeing team and is then referred to the Attemative Education Provision to join Bold & Brave or the Young Rangers. The young person completes thelr journey through the organization with an apprenticeship or qualffication$ to enable them to enter long-term employrnent with confidence. .Supported Inlemships are a work based educational course that present a great opportunty to impr<)ve the life chance$ of young people who have Special Educational Needs (SEN), aged 16-25 with an Educatron Health & Care Plan (EHCP) by supporting them lo progress onto sustained, paid empbyment. We will work in partnershlp with Somerset Skills and Learning offerlng 4 days In the workplace al Bold and Brave wth rotations in - Hospitslty. Retail, Business and Digital and one day with Somerset Skills and Learning working lowards qualifications in Lrf(eracy, Numeracy, Employability, Food Hygiene, Manual Handling and Digital Skills. YP will be supported by YS Job CoaGhes We are proud to partner locally wrf(h Somer5et ICB, Somerset Council, Somersel Foundation Trust the Somerset Group (VCFSE collaborattve} and the Somerset Youth Work Allianc9 and lts)k foiward to strengthening these rplationships over the comlng years to athieve widespread. comprehensive suwirt for the young people of Somerset. Strncture. governance and management Nathre of govgrning document The tharity was incorporated on 1 May 1997 as a company limiied by guarantee and as a registered Charity. It is 9overned by tts Memorandum and Articles of Association. The charity changed its name from Somerset Rural Yfxrth Project to Young Somerset on 29 August 2018 •d toc& the opportunity to refresh its controlling m￿￿randUrn and Article5 of Association. A Board of Tru3tee8 comprising of an Sndependont Chair and up to twelve members meets at least four times a year to administer the charity. Page 5 Young Somerset Trustegs. Report (contlnued) Recrultment and appokntment of trustees In the reportrig period, Young Sorner8et appointed 1 new Trust￿. All prospective trustees. whdher nominated by an existiro trustse or ¢¢>cyted, are interviewed by the Chair s￿porting by other Twstees. Existing trustees meet formally wkh the Chair once a year and their interests and skills document is regulaty reviewed and updated. Inductlon and tralnlng of trustees On appointment, trustees are required to complete a skills and interests survey to help align their input with appropriate organisaknonal requirements and developments. Twstees also attend an Onboarding Day and Safeguarding training. Oryanlsational structure The Board of Trustee8 18 responsible fLr. .detennlnlng the policy direction of the charity .for r￿tr￿a and regularly reviewing the annual budget •reviewing the remuneratlon of CEO and SenicK Leadershlp Tea •approving the annual accounts. The Chief ExecutNe Offtsr is responslble for the day-to-day management in accordance vith determi￿ poliGtes. Throughout the perfod under revlew a thir&paty indemnty provision wa8 in force the benefft of all the Trustees of the charity. Trustees and Offi￿r$ trustees and offi￿r$ serving during the year and since the year end were as follows.. Chief Executive Officer: Mr N Harwood Trustees: Mr Stuart Gilbert Rance- Chainn Mr David Charles Elstone - Vice Chainnan Mrs Claire Tough Ms Julie Sa￿h Biggs Mr Richard Tumer Mrs Stephani8 Noyc8 Mrs M￿gle Forkes {appointsd 23 May 2023 & reSign￿j 31 May 2024) {appointed 23 May 2023) Mrs Jodie Loveday - Treasurer Mrs Ethna Bashf0￿1 Miss Lauren HolL3nd Secretary: Mrs Vlctoria Trebilcock Page 6 Young Somersét Trustses. Report (contlnued) Statèment of tru8tees' responslbllttles The Irustees (who are also the dire¢tL)rs of Young Somerset for the purposes of company law) are responsible for preparing the trustees. report {inccrfporating the diwtors. report) and the financial statemants in accordance with applicable law and United Kingdom Accounting Standards. including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practi￿). Company law requires the trustees to prepare financial statements for each financial year vthich give a true and fair view of the stste of affairs of the charitable company and of the income and expenditure, of Ihe charitable Company for that period. In preparing these financial ststernents, the trust￿ are required to.. select suitable arcounting p0￿cleS and apply them consisternt￿. observe the methods and principles in the Charit￿S SORP; rnake judgements and accounting estimates that are reasonable and prudent. stale whether appliGable UK Accounting Standwds have been followed, subj8Ct to any materAI departures disclosed and explained in thé financFal staternents., and prepare Ihe financial ststements on the going concern basis unles5 it Is Inappropriate to presume that the charitable company Y￿11 continue In business. The truste•8 ar8 responsible for maintainhg proper accounting records which disclose with reasonable accuracy at any time the financial position of the charltable ￿MpanY and enabl8 them to ensure that the financial statements comply wtth the Companies Act 2006. TkEy are also reSp￿s1￿1e for 58feguarding the assets of the charitable company and hence for taklng reasonable steps for the prevention and de￿tIOn of fraud and other irregularities. The trust8es are responsible for the maintenanrx and Integrity of the corporate and financ*1 Inf￿rnatiOn included on th8 charltable compan5ls website. Legislation in the United lfjrvJdom 90vemirvJ the preparation and dissemination of financial statements may differ from legislatron in otherjurisdictions. Disclosure of infomiation tD auditor Each trustee has tak8n steps Ihat they ought to have taken as a trustee in order to make themselves £ware of any relevant audit inforrnation and to establish that the charity's auditor is aware of ihat infotmation. The trustees confirm that there is no relevant infomiats'on that they know of and of Vth￿h they know the auditor is unaware. The annual report was 4proved by the trustees of the Charty on 14.U1.2a4 and signed on ft5 behalf by. Mr Stuart Gilbert Ran¢• - Chairman Truslee Pag8 7 Young Somwset Independant Audltofs Report to the Mgmbern of Young Somerset Oplnlon We have audited the financial statements of Young Somerset Ilhe charrtable company} for the year ended 31 March 2024. which comprtse the Statement of Financial Activities, Balance Sheet, Statemènt of Cash Fl¢)ws, and Notes to the Financial Statements, including a summary of GignifKant accounting policies. The financial reporting framwNork that has been applied in their preparation is United lfjngdom Accounting Stsndards, o)mprising Charities SORP - FRS 102 The Financial Reportwig Standard applicable in the UK 8nd Republic of Ireland, and applicable law (United lfjngdom G￿)er£I￿ Accepted Accounting Practice). In our cpinion the financial statements" grve a true and fair of the state of the charltable cOMpan￿S affairs 8s at 31 March 2024 and of ts incoming resources and application of reswrces, including it8 income and experKliture. for tho year then ended., have been property prepared in accordance Y￿th United lfjngdom Generally Accepted Accounting Practice,. and have been prepared in a¢¢ordance the requirements of the Companies A¢t 2006. Basis for oplnion We conducted our audit in accordance with International StarKlards on Auditing f trustees remunerat¥)n Specffj￿d by law are not made; Of we have not received all the informatlon and explanations we require for our audSt. R¢sponsibllltles of trust8es As explained mcre fully in the Statèment of trustees, r8spM$iblilie6 (set out on page 7). trustees (who are also the directors of the ¢haiitable corrwany for the purposes of Mmpany law) are responsible for the preparation of Ihe finenGial statements and for being salisfied that they give a tn and fair view. ?nd for such internal Control as the trustees dotermlna is nete88ary to enthle the preparation of Ilnan¢ial ststements thal are free from materlal mi8Stat6ment, whether due to fraud or error. In preparing the fin8n¢ial statements, trustees are responsible for assessing the charitayle company's ability to continue as a going concem. disclosing, as applicable, matters related to going concem and using the going concem basis of accounling unless the trustee8 either intend to Irquidale the charitable company or to cease operations, or have no realistic attemative but to do so. Audltor responslbllities for thg audit of the financial statements Our (*"ectr¥es are to obtain reasonable assurance about W￿ther the financial statements as a whole are free from material misstatement. whether due to fraud or error. and to issue an audrtofs report that includes our opinion. Reasonable assurance is e high level of assurance, bLrt is nol a guarantee that an audit conducted in accordan￿ wTrth ISAS (UK) will 8￿ys detect a material misslatemenl wheTr it exisls. Misstatements can arlse from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be eXP￿d to inffuence the economic decisions of usèrs taken on the basis of these financial 8tatement$. Irregularrties. including fraL￿, are instances of norFcomplian¢e with laws and regulations. We deslgn procedures in line with our Tesponsibi1it188. Outlined above. trj detect material misstatements in respect of irregularities, including fraud. The exlent to which our procedures are capabl8 of detocting Irregularities. including fraud is detailed below: Page 9 Young Somerset Independent Audltorfs Report to the Members of Young Somerset (contlnued Identifylng and assosslng potontlal rlsks of materlal mlsstatsment duè to irregularltles We ¢on8idered the following when identifying and assessing risks of material misstatement due to irregularities, including fraud and nonwcompllance wlth I￿ and regulations: - the legal and regulatory framework in vthiGh th8 charltabte company operates - the sector in which the charttable company operates - the control environment and controls established to Mitigate such risks - the results of our enquiries of management about their idèntifKats'on and assessment of risks of irregularities - thscussions wth th8 aLKlit engagement team about ￿h￿re fmd might ￿cur - the incentives for fraud. Laws and regulations which are considered to be signif￿ant to the chariiabie company include those relating to the requirements of financial reporting framewoth FRS102, the Companies knt 2006, the Charities Act 2011, UK tsx legislation, employmenl lav and health and safety. In addition. V￿ consider other laws and regulation which may not directty impact the financial Statements but may impact on the operation of the charitable c(xnpany. A8 a result of th8se pro¢adur8s we conduded, in accordance wtth Internat￿n21 Auditing sI￿dards, that a rffjk in relation to the potential for managemerrt override of controls existed. Audit responses to risks Identified We undertook audit procedure8 to re$porMI to the ri￿$ identffied, and designed our audit testing to respond to these risks. The additional procedures we ￿dertook included the following: - gaining an under8landing of the charilable companls pr(tedures for ensuring compliance with18WS and regulations - testing the appropri8tene8s of journal entrtes and ¢)ther adjustrnents - consid8ring whether accounting estimates V￿re indicative of potential bia8 - considering whether any transactions arose outside the normal cour8& of buslness - maklng enquiries of management - COTroborating our enquiries through review of Board Minute6 and Correspondence. We also communicated relevant laws and regulations and potentlal fraud risks to all engagement members and remairigj alert to any indicators of fraud or non-compliance with law8 arKI re9ulations throu9hout the audit. A further description of our responsibilities for the audit of the financial statements is10>ed on the Financial Reporting Council's website at: knMw.frc.org.uklauditorsTesponsibiliiies. Thi5 description ft)rm5 part of our auditors report. Llsg of our report This report is made solely to the charitable companYs trustees. a5 a body, in accordan¢e with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might sL*e to thè charity's trustees those matters we are required to state to triem in an auditorfs report and tor no other purpose. To the fulest extent perrniited by law, w8 do not accept or assume responsibilty to anyone other than the charitable company and its trustees as a body. for our audit work. ftir this report, or for the opinions we forme Page 10 Young Somerset Independent Audltorfs Report to the Members of Young Somerset (continued) Adam Knight FCA jsenior Statutory Audltor) For and on behalf of A C Mole LLP Chartered Accountants and Stthry Audit¢rs Stafford House Bla¢kbrook Park Avenua Taunlon TA12PX Date:.Ib.7uw.2a24. Paye 11 Young Somerset Statement of Financlal Actlvltles for the Year Ended 31 March 2024 (Includlng Income and Expenditure Account) Unrestrkted Restrictsd funds funds Total 2024 Incom• Donation5 end legaci88 Charitsble activities Other trading activitEs Total income 24.168 3.187.672 76.282 6.523 128.916 30,691 3.316.588 76.2&2 3,288.122 135.439 3,423.561 Exponditure Raising funds Charit8ble activities (20.237) {3.457,472) (3.4TI.709) (189.587) 8,748 (20.237) (3,587,997) (3.808,234) (130.5251 (130.525) Total expenditure Net (expendilure) Transfers betsveen funds 4,914 (8.748) (184,673) Net movement in funds (180,839) (3.834) {184.673) Reconciliatlon of funds Total funds brought forward Total funds ¢arrted forward 839,564 458,ns 8.748 648,312 463,839 Total 2023 £IAs rtstated) 19 4.914 UnrestrIct￿ Restrkted funds fiinds Income Donations and legacies Charitable activitÈÈs other tracfing acthiities Total income 12.504 3,183,544 16.465 12,504 3.217,010 16,465 33.466 3,212.513 33.466 3,245.979 Expendrture Raising funds Charitable activitses (￿.111) <2,976.198) (22,111} (3.023,4131 (3.045.524 {47.2151 (47.215) Total expendilure Net incomel(expenditure) Transfers behyeen fund$ 2.998,309) 214,204 (10.472) {13.749) 10.472 200,455 Net rnovement in funds 203.732 {3,27T) 200,455 Reconciliafjon of funds Total funds brought fo￿rd Total funds Carried forward 435.832 12.025 447,8S7 19 639.S64 8,748 648,312 The notes on pages 15 to 28 form an integral part of these financial stat8m8nt8. Page 12 Young Somerset {RegIStra￿On nuM￿r. 033631J09) Balancg Sheet as at 31 March 2024 2023 £(As restatsdl 2024 Note Flxed assets T￿gible assets Current assots stocks Debtors Cash at bank and in hand 13 66.269 75.174 14 15 7,260 124,437 558,472 690,169 (292,799) 397,370 5.468 139.0 943,671 1,D88,225 {515.087) 573,138 648,312 Credltors: Amounts falling due wlthln one year Net current a66ets 16 Net assets 463.638 Unrestricted funds Designated Fund5 Restricted fund$ 458.725 411.564 228.000 8,748 4,914 463,639 Total funds 19 848.312 The firrdncial statements on pages 12 trj 28 were approved by the trustee8, and authorised for issue on AJLrf.2A4and signed on their behalf by. Mr Stuart Gilbert Rance - Ghaimian Trustee The notes on pages 15 to 28 fonn an integral part of these financial statements. Page 13 Young Somer4et Statement of Cash Flows for the Year Ended 31 March 2024 2023 £(Ao r•ststed) 2024 Noto Cash flows from oporating actfvitlas Net cash (expenditure)fino3me Adjuslments to cash flows from non*aGh items Deprnciation (184.673) 200.455 48.282 {136.391) 37.250 237,705 Worklng caixtal adjustments (Increaseydecre8se in stc¢k$ Decrease in debtors Incrèasel{decrease) In creditors (Decrease) In def•rred Ir￿Qme Net eash flows from operating 8¢tiMlies Cash flows from Invesllng activiti08 Purchase of tangible r￿ed assets Sa]e of tangible fi￿1 assets Net cash ffowB from investing activihes Nel decrease in cash and cash equiwdlents Cash and cash equlvalents at 1 April Cash and cash equivalents at 31 March 14 15 16 16 (1,792) 14,649 12.844 {235.132) 1609 158,358 (147,835) {386,762) {135,925) {345,822) 13 (39.37n (36,650) 3.618 (39.37TI 133.032) (385,199) 943.671 (168,957) 1,112,628 943,671 558.472 The notes on pages 15 to 28 fomi an inle9ral part of th8se financial slatements. Page 14 Young Somorset Notes to the Flnancial Statements for the Year Ended 31 March 2024 1 Charity status The charity is limited by guarantee, Incorp￿ated in England and Wales. and consequently does not have 8har8 capttal. Each of the trustees 18 liable to ¢ontribute an amount not exceeding £1 tthvads the assets of Ihe charity in the event of liqupjation. The address of its ￿gk8tered offlce is: Unit 2 SuFYema Estate Edington Bridgwater Somerset TA7 9LF 2 Accountlng policies Summary of slgnlflcant accountlng pollcies and key ac¢ountlng estlmates The principal accounting policies applied in PTeparalion of these financial statements are set out below. These poliC￿S hav8 been consistentty applied to all the years present￿, unl8ss olherwise stat8d. Basls of p￿ParatIon and ststement of compllance The financial statements have been prepared Ut￿Or the historical co8t convantion wlth ftems recognised at cost or Iransaction valu8 unless stated othgrwise wlthin these notes. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Ptactice (applicable to charities prep¥ing their accounts in accordance with the Financial Reporting Standard appli¢able in the UK and Republic of Ireland {FRS 102)} (issued in October 2019) - (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the CThnpanies Act 21K)6. Young Somerset meets the definition of a pUbr￿ benefrt en&'ty under FRS 102. The presentation Cur￿ ncy cf the financial statements is Ihe p￿nd Sterling (£) rounded to the near8St )und. Golng concern Th8 charity 18 reliant on the Gontinued provision of services to their suppliers. The terrnly review and subsequent renewal of these sernices is ex￿cted to take pl￿ in the next 6 to 12 months. The Irustees consider that there are no materlal uncertainti8s aboul the charity's abilty to continue a5 a going ¢oncem nor any slgnlficant areas of uncertainty that affect the carying value of assets held by the chaTty. Income All IrKome is recognised onc8 th8 charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be me8Bur8d rellably. Page 15 Young Somersgt Notfjs to the Flnanclal Statements for tha Year Ended 31 March 2024 (contlnued) 2 Accountlng pollcles (contlnued) Donations are recognised ￿en the Charty has been notified in writlng of l)oth thè amount and settlanent date. In the event thal a donation is subject to condition3 that require a level of performance by the charity before the charty is ent￿ed to the funds, the inccAne is deferred and not recognised until either thc6e conditions are fulty mec or the fuifilment of those ccmditions 18 wholly wtlhin the control of the Charity and it is probable that these conditions will be fulfilled in the reporting Periixl. Ir￿Qme from grants and contracts. rek2ting to charitable actimties are recognised in the Statement of Fina￿la1 Artivtlies when r￿e1V￿)￿. If there is a servY￿ Level Agreement or Contract in pl¥e income taken into account in the pÈttod to which it relates. Wher8 granls end contract income received have conditit)ns or restrictions as to their use attached thé inccthe is recognised as restricted income funds. Where no s￿h condibons or restrictions exiBI. grants and contract income received are reccMJnised as unrestrictsd income. Gift aid Income from tsx reclaim8 are t￿l￿ded in the StatM)ent of Finan¢i81 Activities at the same tlrne as th8 gift to whkh they relate. Expenditurn Al 8xpendtture is recognised oncè th•rè Is a legol or constructive otligation to that expendituro, it is probable settlement ts r8qulred and amount can be measured rellably. All costs are allocated to the applicable expenditure headirvJ Ihat aggregate simllar costs to that category. Where costs cannot be directly attributed to Particular haadings they have been allocated on a basis consistsnt with the use of resources. Raising funds These are costs incurred in attracting voluntary Incmie and those incurred in trading acllvities that raise funds. Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of ts activthes and services for fts b8neficlar￿s. It includes Lw)th costs that ran be allocated directty to such adivities and Ihose costs of an indirect nature necessary to support th￿n. This includes costs in relation to both the shop and cafe which are OFerated to leach life skills and provide V￿rk experien￿. Governance costs These include the costs attribLrtabl8 to the charitys complia￿e ￿ryth constitutional and statutory requirements. including audit, strategic management and trustees meètirrfJs and reimbursed expenses. Irrecoverable VAT Irrecoverable VAT 18 charged against Ihe Category expenditure ft)r which it was Incurred. Taxatlon The charity is a reglstered charity and is, therefore, exempt frcrfn liablwty to taxation on ifs income and capftal gains, to the extent that such income or galns are applled exclusively to charitable purpose8. Page 16 Young Somerset Notes to the Flnanclal Statements for the Year Ended 31 March 2024 (continued) 2 A¢Gountlng policies (contlnuod) Tanglble flxed assets Indiyidual t￿ed a588ts c08ting £500 or more we initialty recorded at cost, 1888 any subswuent accumulated depreciation and subsequent &cumulated impalmient io$¥es. Depreclatlon and amortisatlon Depreciation Is provided on tangibla fixed assets so a8 to *ryite off the cost or valuation. less any estlmated residual valu8, OV8r their expected useful e¢onoml¢ lrfe as follows: As&èt class Motor vehicles Furnitu￿ arKI 8quipmant Depr•¢iation method and rate 33% reducing balance 33% 8traight Iln8 Stock Stlxk is valued at the lower of cost arKI estimated sellng ￿¢01888 Costs to completa and sell, after duè regard for obsolet8 and slow MOVI￿ stocks. Cost is determined using the average c08t method. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-tem highly liquid investments that are readity convertible to 8 known amount of cagh and are 8ubie¢t to an insignifKant risk of change in value. Fund structure Unrestricted incorne fund8 are gen8ral funds that are available for use at the tru8t883 dtscretion in furtherance of the obj8Ctives of the charfty. Designated funds are unrestricted funds set aside for specific purposes at the di8Gretion of the trustees. Restricted incorne funds are those donated for use in a particular area or for SPQGific Purposes. the use of whi¢h 18 restrict8d to that area or purpose. Financial Instruments The charty only enters inlo basic financial instruments that result in the recognition of financlal assets and liabilf£i8s such as trade and other debti)rs and ¢redFt￿8 together with loans to related parties Debt instruments, such as trade debtors and ¢￿d[torS, are inttially measured al transaction price and Subsequently me88urèd at amortl88d ￿$t. Financlal assets are 838essed at the end of each rewting perlod for obj8ctrve evidence of impainnent. If objective evidence of Impainnent is found, an Impaim)ent Ioss 18 recognised In tha income statement. Page 17 Young 8omerset Notes to the Financlal Statements for the Year ended 31 March 2024 (continued) 2 Accounting policies (conllnued) Crltical accounting Judgements and estimation uncortainty The preparatffi of the financial statements in conformty with FRS 102 requires management to make judgements, estimat8s and assumptions that affect the application of policies and reported amounts of assets and liabililles, kncome, and expenses. Estimates and Judg￿nents are continualty evaluated and ase based on historical eXperI￿Ce and other factors, including expectatlons of future events that are believed to be raascffjable under the circumstances. The charity makes estim*es and assumptions concerning the future. The ￿SU[tIng accounting estwnates will. by definitron, seldom equal the related actual resutts. The Trustees consider that there are no critical accounting estimates and judgements which have a Signif￿nI riBk of causing a rnaterEI adjustment to the carrying amounts of assets and liabililies within the next financial year. Prior porf1)d adjustment Where an error or omlssion is identified in respect of comparative figure8 Ihi8 is adjusted in the precedlng perDJ (see note 22). Page 18 Young Somerset Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 3 Income from donations and legacl Unrestrlctad Rostrlctgd funds funds Total funds Donations Other inc(xne 18,578 5,590 8,523 25,101 5,590 Total for 2024 24,168 6.523 30.691 Donations Other income 8,449 4.055 8.449 4.055 Total for 2023 (As restated) 12,504 12.504 4 Charitabla actlvlti Unrestrlcted funds Restricted funds Total funds Income from Govemment and Other Public Authorities lftcome frijm Charrtable Organisations Total for 2024 3.097,542 90,130 3.187,672 4,914 124,002 128,916 3,102,456 214.132 3,316.588 Income frryn Government and Other Publ AuthOr￿l&S Incoma from Charitabl& Organisations Total for 20231As restated) 3,094,842 88,702 3.183,544 3.094.842 122.188 33,466 33,466 3,217.010 6 Income from other tradlng activltles Unrestrl¢ted funds Restricted funds Total funds Shop income from sale of purchased goods Tolal for 2024 76.282 76,282 76,282 76,282 Shop inMme from sale of purchased goods Totsl for 2023 16,465 16,465 16,465 16,465 Page 19 Young Somerset Notes to the Financlal Staternents for the Year Ended 31 March 2024 (continuèd) 6 Expendlture on charltable actlvftles Un￿$trIC￿ Restricted funds fund$ Total nds Not• Youth sepdices Depre¢iathon. amortisation and other Bimllar costs Grant fundry of acliviti8s Staff Costs Goveman¢e costs 616,158 616,158 48,282 4.381 2,674,776 113.875 48,282 4.381 2,805,301 113,875 3,587,997 130.525 Total for 2024 3,457.472 130,525 y￿th senJices Depreciation. amortisation and other similar costs Grant funding of actIv￿eS staff costs Governancè costs 403,373 2.000 405,373 37.249 20,651 2.414,146 11)0,773 37.249 25.657 2,454.361 100,773 5,000 40,215 Total for 20231As Restated) 2,976,198 47,215 3,(r23,413 Youth servTce$ contalns £171,691 of staff costs (2023: £46.691) Page 20 Young Somerset Notes to the Flnanclal Statemènts for the Year. Ended 31 March 2024 (continued) 7 Anatysis of govemance and support costs Govemance costs Unr88trlctad funds R￿trIcted funds Total funds Audit fees Legal fees Other ￿vernance costs Totsl for 2024 9,000 101.639 3.236 9,000 101.639 3.236 113,875 113.875 Audit fees Legal fees Other governance costs Total for 2023 6.888 92,175 1.710 1 IX),7T3 92,175 1,710 100,773 8 Net incomel(expenditur•} Net {expendltLre)fincome resources forthe year InC￿de. 2024 2023 Audit fees Depreciation of ftxed assets 6.888 37.249 48,282 9 Trustees remunerntion and eynses No trustees, nor any persons connected with thern, have received any remuneration from the charty duriTh3 the yoar. (2023: None) No trustees have received any reimbursed expenses fr(¥n Ihe charity during the year. (2023.. Ncffie) 10 Staff costs The agg￿gate payroll costs were as follows.. 2024 2023 Wages and salaries Social security costs Pension costs Other s18ff costs 2.626.284 225.732 67,r11 57.205 2,158.382 188.582 57,573 .515 Other staff costs above includ8 Staff training Costs. 2,976,992 2.501,052 Page 21 Young Somerset Notes to the Financlal Statements for the Year Ended 31 March 2024 (continued) 10 81aff Gosts Icontinued) 2024 2023 Average Heajcount 109 91 The monthly average number of persons (Includlng senbr m8nagement I leadership team) empw by the charity during the year expre88ed as full timo equivalents was as follows: 2024 2023 Youth worker5 Healh & wellbeing Managem8nt 24 41 10 17 16 43 12 17 88 The number of employe8s whose emolurnents fell within the followlng bands was: 2024 2023 No £70,001- £80.000 £60.001- £90.000 The key management personn81 of the charity consists of the Chief Executive Offtcer. Head of SeTViC8 - Wellbeing. Head of servi￿ - T￿geted Yixrth. Head of Ser¥ice - Finance & Enterprise and Head of Service - Busines5 and Inn (28.472) 411,584 Deslgnatedfunds Designated Fund 210.￿0 18,IXIO 228,OC Total unrestrfcted fvnds 435,832 3,212.513 {2,998,309) (10.4721 639,564 Reslri¢ted funds Restrtcted Fund RAISE Altematlve Educaion Provision Skli s Devdopment Wembeing (2,000) (9.975) 9.975 6,314 <6,314) 8.748 3.277 12,025 8,748 15,177 (28,926) (47,215) 10.472 10,472 8,748 Total funds 447,857 3,245.979 3.045,524 648,312 Page 26 Young Somer8et Notes to the Flnancial Statements for the Year Ended 31 March 20241contlnued) 19 Funds {continuodl Designated Funds Desh3nated Fund - Desrgnated funds are unrestricted funds set 88ide for specrfic purposes at the discretion of the trustees, £30.000 lo be spent on the continuing work of Ihe Bold and Brave shop and cafe. £60,000 to further y￿rk already started by. the Targeted Youth Support team. £130.000 to a Wellbeing project £8.000 to a programme to extend support to vulnerable young people. Restricted Funds 41SE - Is Young Somerseys team that works towards Racial Awareness. Inclusion, Support and Education. Alternative Education Provislon & Skills Development - Young Somerset's unique provision usirvJ youth workers to support learning for children and young people not in educatK)n. employrnent or training (NEEf) and for whom mainstream educaticffl provision does not work. This include5 SUPPOrt to help develop young people's skills and formal accreditation. Our AEP provision includes Young Rangers. This provÉdes an excrf(ing opportunity for Y￿ng people aged 12-16 to spend tim• in Ihe Quantocks alongside fomial Sk￿lS development. Wellbeing - Comrnunlty Wellbeing Is deliveT8d Ihrough Low-Inten8ty Cognltive Behavioural Therapy for rni1d4￿rnoderate mentsl health disord8rs: we also provide peer support, group work and support for parents. STAR - STAR'S alm is to provide funding opportunilies for children and young people 1>21 years, to build and develop resilience through taking part in music. sport, art and recreational activrtles. Skills Development - A project to assist young people in acquiriNJ the skllls needed to 8ecure future employment and manage to live independently. Soclal Enterprlse - Our Social Enterprise offer is delivered through out Bold and Brav8 Shop and Café. Youth workers work alongside young people in the Shop to teach them ljfe skills through V￿rkIng in a busine83 environment through both running the shop and also making the goods to sell in the shop. We also support young entrepreneurs to set up their business and work with other retall seclor experts to expand their business. The Café opened in Taunton Library in June 2023 and we support young people to develop 8kills to enable them to secure employment within the hospitalty sector. Targeted Youth Support - TYS is d8ltvered through our Jig8aw, Off the Ward and we￿ Got Tlws Projects. The Jigsaw Project is for young people vtho have had a recent hospital admission for their mental health difficulties or low emotional wellbeing. Current oulcomes data shows we helped reduce the hospital readmis8ion rate by 70°A. Off the Ward Is shaped to provide a safg space for young people with medical needs to discuss their lives and I￿￿11beIng away from a dinical setting: thi5 work is currently commissioned wthin the Diabetes Teams (Yeovil District and Musgrove Park Hospitab) and Oak Ward (MPH). Weve Got This offers the opporbjnity for young people to self-refer to a peer mentor who Gan help support them to understand their own journeys and what they can do to mak8 their own infom)ed decisions for change. Page 27 Young Somerset Notes to the Flnancial Statements for the Year Ended 31 March 2024 (confjnued) 20 Analysls of net asset$ between funds Total funds at 31 March Unrestricted funds Restrlcted funds Tangible fLYed assets Current assets Current liabilities 66,269 685.255 1291799) 458,725 66,269 690,169 1292.799) 463,639 4.914 Total net asset5 4.914 Total funds at 31 March 2023 Unro5tricted fvnds General Designated funds TarKJible assets Current assets Current Ilablllties 70.239 821.248 (479.923) 411.564 4.935 38,977 135.1841 8,748 75.174 1.088,225 {515,08n 648.312 228.000 Totsl net assets 228.(K)O 21 Related party transactlons There were no related party transactions in the year. (2023: None) 22 Prlor perk*d adjustment Income clas5rf1catlon The prior years tomparatives In the Statement of Financial Aclivbtres have been restated to refiect correction to the categorisation inGome. Income from doThqt1￿S and leg*ies was £3.229.514 of which £3.217,010 was income from charitable axtvrties. This amount has been reclassified to chaTitable activities income within the cmiparative r￿UreS. There is no net impact on total income or resewes fr(xn this aJjustm8nL Expenditure classlflcation The prior yeals comparatives in the Statem8nt of Financial Activilie8 have been restaled to refie¢t orreclion to the categorisation of expenditure. Expenditure from raising funds was £97,373 of which £75,282 wa3 expenditure on charitable actwities. This amount has been red&ssified to ¢h8ritable activity expenditure wthin the comparative figur88. There is no net impact on total income or rese￿eS from thls adjustmenl. Page 28