2024-03-31-accounts

ANNUAL REPORT 2023 - 2024 for SSYI (Charity Commission Reg: 1073490)

CONTEXT

SSYI is a community charity set up and run by local Christians that has been supporting young people in our local area for 27 years. We now work with over 270 young people in Great and Little Shelford, Stapleford, Sawston and Duxford. Our aim is to provide safe spaces, quality youth work and support for local 10 to 18-year-olds. Particularly focusing on those who are marginalised, isolated, atrisk or not accessing other provision. By building positive relationships with young people, running youth clubs, schools work and other activities we enable them to overcome challenges, learn and succeed. We have a dedicated Youth Centre in Great Shelford where we run 6 youth clubs a week, as well as 4 weekly youth clubs in Sawston, and a weekly club in the Community Centre in Duxford.

During this financial year a new SSYI (“The Shelford and Stapleford Youth Initiative”) has been established and registered with the Charity Commission (No. 1201381) as a “Charitable Incorporated Organisation” (CIO), and funds transferred to the new entity to continue SSYI’s activities. The purpose and activities are unchanged. The CIO was created on independent advice from a lawyer, and after a review by Trustees of the existing charity as to the benefits of a transition to CIO status. SSYI has grown considerably since it started, and the transition to a CIO provides the appropriate levels of governance, structure and process for the scale of activities. As the CIO is a new entity, its accounts are prepared and examined separately from those of the existing charity. This report and accounts concern the original SSYI (Charity Commission Reg: 1073490).

STATEMENT OF ACCOUNTS

The summary accounts for the Shelford / Stapleford Youth Initiative for the year from 1[st] April 2023 to 31[st] March 2024 have been approved by independent reviewer Alistair Cooper and are provided in this report. In overview:

Accumulated Fund at Start of Year		£79,926
Total Income £28,959	£28,959
Expenditure on activities (£48,897)	(£48,897)
Transfer of SSYI assets to new SSYI CIO (£59,391)	Transfer of SSYI assets to new SSYI CIO (£59,391)
Total outgoings	(£108,288)
Net Surplus/(Deficit) for Year	(£79,329)
Accumulated Fund at year end		£597

OVERVIEW

These accounts reflect the change in context during the year, during which the income and expenditure transactions were migrated to the new CIO entity, over a few months. In the first part of the period (April to October 2023) costs remained steady vs the previous year, aside from transfers to the new SSYI CIO entity of £59,391. As in previous years the majority of the larger annual income items (mainly institutional grants) are secured later in the year. In 2023-2024 these therefore came into the new SSYI CIO, leading to a deficit in “old” SSYI accounts of £19,938 excluding transfers.

INCOME

The largest sources of income (32%) were grants (SCDC £7,500 and CoOp £1,314), alongside local councils (19%) and churches (5%) and individual donations (21%). Specific events and appeals brought in 14% of income.

EXPENDITURE

Staff costs made up 65% of the total. In the year these were our youth workers Zac Britton, Tilly Akoto, Tina Woodstock, and Kay Salter, alongside part time administration officer Kirsty Townsend and cleaner Kevin Chapman. The other significant cost items were Travel & Expenses (16%) and Youth Centre running costs.

A breakdown of the Income and Expenditure (excluding transfers to CIO) is shown in the graphics below.

NEXT YEAR 2024 – 2025

It is anticipated that the “old” SSYI will be formally shut down during FY2024 2025, once all transactions are moved to the new entity, and the remaining assets transferred. All SSYI activities and accounting transactions will then be within the new SSYI CIO entity. At the time of writing all regular transactions have now been moved.

Summary Income & Expenditure, and Balance sheet are provided overleaf, alongside the independent examiner’s report:

								S
SSYI Income and Expenditure 2023 2024								~~Shelfo~~
								~~Shelfo~~ Yo
Income					Expenditure
	Residential(s) £2,552 £3,322 Trips £203 £917 Churches £1,483 £6,314 iZettle income at club £828 Private donations £5,087 £8,813 Appeals / collection tins £26 £25 SSYI Events £1,313 £0 Village Events e.gFeasts £36 £352				Staff	£26,884 £57,725 £4,191 £690 RomseyMill training& mgmt £0 £7,244 Session workers £0 £0 Salary (Zac, Tilly, Tina, Kay, Kevin, Kirsty); including Tax, NI, EeR pension
Donations
						Total staff costs £31,765 £64,969
	Total Donations £11,528 £19,742				Other	SSYI events £403 (Trips)Events,Parties £895 £3,358 Games and IT Equipment £1,250 £1,431 Insurance £1,157 £1,196 Subscriptions £232 £220 Audit Honorarium £200 £200 Projects 2022 (Shred it up, Copse 3,Project X,Sports) £62 £579 Residentials(EXCL SALARIES) £1,553 £2,554 Travel and other expenses £6,911 £8,076 Training £250 £28 Costs for Services provided (ex- Salary) £737 Cash for cash tin £750
	Parish Councils £5,500 £21,220 Others (LS Ents; Hist Soc; Coffee mornings, SSG, Spokes, SPC..) £130 £870 Projects(Copse 3;Project X;Sports) £324 £0 Competitive Grants £8,815 £33,385
Grants
	Total Grants £14,768 £55,475
	Payments for services provided (SVC; CRC;CO;Duxford...) £715 £9,980 Gift Aid reclaims £1,881 £2,240 donations for Minibus & cage Cash in from Cash tin £0 Givingscheme bonuses £67 £19 Bank interest £0 £120
Other
						Total Other costs £14,399 £17,643
						Facilityhire £468 Youth Centre Improvements £0 YC Runningcosts £2,264 £4,685
	Total Other £2,663 £12,359				Facilities
Facilities	YC Improvements £0 YC Runningcosts income £775
						Total Facilities £2,732 £4,685
	Total Facilities £0 £775					Transfers to new SSYI CIO £59,391
					Transfers
						Transfers £59,391
	TOTAL INCOME £28,959 £88,351					TOTAL EXPENDITURE £108,288 £87,297
						Expenditure excluding transfers	£48,897
Surplus(Deficit)		-£79,329	£1,054
Surplus(Deficit)excludingtransfers with SSYI CIO		-£19,938

SSYI - Balance Sheet as at 31st March 2024	SSYI - Balance Sheet as at 31st March 2024	SSYI - Balance Sheet as at 31st March 2024
					2021 - 2022	2020 - 2021
		£0 £0 £0 £0 £23 £1,628 £0 £5,913 Current Account £548 £16,399 Savings Account £198 £57,432 £0 £0 £0 -£1,445 £0 £0
	Fixed Assets				£0	£0
	Prepayments				£0	£0
	Debtors(recoverable Tax)				£2,487	£1,960	See Note 1 below
	Debtors				£1,326	£1,930 See Note 2 below	930 See Note 2 below
	Bank				£69,214	£54,648
					£7,313	£7,312
	PettyCash				£0	£0
	Creditors				-£1,281	-£580	See Note 3 below
	Deferred income				£0	£0
	Net Assets	£769 £79,926			£79,058	£65,269
Non-material discrepancies brought forward frompreviousyears £172 -£186 £205 -£294 See Note 4 below Accumulated Fund Brought Forward £79,926 £79,058 £65,269 £32,370 CORRECTED Accumulated Fund Brought Forward £80,098 £78,872 £65,474 £32,076 See Note 4 below Excess of Income over Expenditure -£79,329 £1,054 £13,584 £33,193					£205	-£294	See Note 4 below
Excess of Income over Expenditure					£13,584	£33,193
	Corrected Accumulated Fund carried forward £769 £79,926 £79,058 £65,269
	Notes to Accounts
1 This covers	1 This coversgift Aid reclaim for theyear,arrivingin SSYI account in the following year
2 From 2019-20 this covers known Debtors	2 From 2019-20 this covers known Debtors(income for theyear)notyet visible in bank accounts atyear end
3 Creditors	3 Creditors(additional expenditure)in theyear NOTyet visible in bank accounts atyear end
4 Corrected Accumulated Fund brou	4 Corrected Accumulated Fund brought forward adjusts for non-material discrepancies built upinprioryears

Alistair Cooper FCA 1 Marconi Way St Albans AL4 0JG [e-mail]

14[th] August 2024

Examination of SSYI accounts for the year ended 31[st] March 2024

Dear John

I have examined the Shelford & Stapleford Youth Initiative (SSYI) income and expenditure account, balance sheet and movements in reserves for the year ended 31[st] March 2024, which are the responsibility of the Treasurer and Committee members.

I confirm that they are in accordance with the books and records of the Shelford & Stapleford Youth Initiative.

Yours Sincerely

Alistair Cooper Chartered Accountant Honorary Accounts Reviewer