SOUTH WEST YOUTH MINISTRIES (A company limited by guarantee) UNAUDITED FINANCIAL STATEMENTS YEAR TO 31ST AUGUST 2024 kj la *swYM south west youth mlnlsirles
SOUTH WESTYOUTH MINISTRIES TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR TO 31ST AUGUST2024 Contents Legal and Administrative Information Trustees, Annual Report including Directors, Report 4-9 Independent Examinerfs Report 10 Statement of Financial Activities Balance Sheet 12 Notes to the Financial Statements 13-22
SOUTH WEST YOUTH MINISTRIES TRUSTEES. ANNUAL REPORT INCLUDING DIRECTORS. REPORT FOR THE YEAR TO 31ST AUGUST2024 Legal & Administrative Information CHARITY NAME South West Youth Ministries REGISTERED CHARITY NUMBER 1086877 REGISTERED COMPANY NUMBER 03963476 REGISTERED ADDRESS 1 OE Mill Park Industrial Estate White Cross Road Woodbury Salterton EX51EL BOARD OF DIRECTORS (Trustees) Joel Preston (Chair) Bridget Down Ruth Flanagan Joseph Mudzingwa John Russell Daniel Searle Harriet Sharp Rosemary Sowden Esther Stansfield COMPANY SECRETARY Rosemary Sowden EXECUTIVE DIREcfoR Paul Friend BANKERS CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling ME194JQ INDEPENDENT EXAMINER Mr M BJ Cronin MMT FCIE Bowhill Bookkeeping Services 172 Newman Road Exeter EX41PQ
SOUTH WESTYOUTH MINISTRIES TRUSTEES'ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR TO 31ST AUGUST 2024 The Directors (Trustees) present their Annual Report together with the financial statements of South West Youth Ministries for the year ended 31 st August 2024. The financial statements have been prepared in accordance with the accounting policies set out on pages 13-14. the Memorandum and Articles of Association dated 3rd April 2000, amended 16th March 2001, 22nd May 2019 and July 2022, the Charities Act 2011 as amended by the Charities Act 2022 ,the Statement of Recommended Practice: Accounting and Reporting by Charities Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the small Companies regime (section 419 (2) of the Companies Act 2006. l. Structure Governance and management Board of Directors rrrustees) South West Youth Ministries was incorporated as a company limited by guarantee on 3rd April 2000 and registered as a charity on 151June 2001. The company was established under a Memorandum of Association which established the objectives and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. South West Youth Ministries is directed by a Board of Directors. The members are people drawn from local churches and various other sectors and appointed at the Charitys annual general meeting. Their time is given voluntarily. Meetings are held at least quarterly and business is conducted largely by discussion and consensus in the formal meetings. The Directors (Trustees) who served during the year and up to the date of this report was approved are as follows: Joel Preston {Chairman} Ruth Flanagan Andrew Mulcock {resi8ned 30th Sept 2024) Daniel Searle (from 12th Oct 2023) Rosemary Sowden Bridget Down Joseph Mudzingwa John Russell Harriet Sharp Esther Stansfield Training and briefings on matters concerning the legal and operational aspects of the charity are arranged from time to time, with inputs from, for example, Stewardship Services and ASIC (Accrediting Body for International Students). The Board takes responsibility for all policy decisions, The minutes of Board meetings constitute the formal record of proceedings and decisions taken and approved by the Directors. The Executive Director appointed by the Board of Directors carries out the day-to-day management and affairs, together with the Staff Team. Staff Team members each have a special responsibility for a particular area of the work.
SOUTH WEST YOUTH MINISTRIES TRUSTEES. ANNUAL REPORT INCLUDING DIREcfoRS' REPORT FOR THE YEAR TO 31ST AUGUST 2024 Risk Management The trustees consider the major risks to which the charity is exposed when updating its strategic plans. These include internal and external risks that, if occurring, would be likely to affect finance and resources, staffing and other aspects of the work of the charity. The trustees are satisfied that procedures and systems are in place to monitor and control these risks, to mitigate any impact that they may have on the charity in its future operations. 2. Objectives and Activities 2.1 Vision and Mission Statement South West Youth Ministries, vision is for every child and young person in the South West to encounterjesus. know him and 'Live For More,. SWYM'S Mission statement flowing out of this is equipping local churches through Relational support and encouragement Placement based training Residentials and resources SWYM have values to articulate how they want to act as we work out our vision. These are: Christ Centred Living Kingdom Focused Movement Servant Hearted Community Pursuing Excellence Together 2.2 Objects and Aims of South West Youth Ministries SWYM aims are to be met through the following core activities.. Develop, sustain and serve local church. community and schools projects Organize camps as a resource to projects and workers Train and support youth workers through accredited and non-accredited courses and the providing of relevant resources such as residential and mentorins courses. Encourage and partner with similar organizations and works in other part5 of the UK. Our five strategic goals are to: Resource Evangelism 2. Resource Discipleship 3. Equip SWYM trainees 4. Equip SWYM Ministry Partners 5. Build Solid Foundations 13 Goals Overthe next ten yearswe have set a target to growa community of 300 YCF workers, which includes 100 full-time trainees, supported by SWYM. To achieve this over the next three years we have goals to grow our number of full-time trainees across the region to a total of 60. We also are aiming to launch a new community for youthlchildrenlfamilies workers across the region for sUPPOrt and to provide inspiration. This will begin with a pilot year in 2025 with a group of approximately 20 YCF workers.
SOUTH WESTYOUTH MINISTRIES TRUSTEES. ANNUAL REPORT INCLUDING DIREcfoRS' REPORT FOR THE YEAR TO 31ST AUGUST 2024 2.4 Strategies The main strategies for achieving the above objectives are: Equipping SWYM Staff with the tools and experience to act as a resource for local projects Developing Cluster groups as a support to local work providing training. networking and idea sharing Acting as a recruitment provider for local churches and projects enabling them together to support a trainee Developing an excellent training program that is relevant and provides accredited qualifications Support, organization and development of camps and events for young people that are relevant and a resource to local churches Ensuring that the ongoing financial stability of SWYM is maintained monitored and developed 2.5 Public Benefit When planning our activities for the year the trustees have considered the Commission's guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion. To this end we are working hard to ensure that the work of SWYM will prove productive in ensuring that as many young people as possible in our region will have opportunity to witness genuine Christian faith lived out in their school and community. In planning our projects and activities the trustees have complied with their duty in section 4 of the 2011 Charities Act to have due regard to guidance published by the Charity Commission. 3. Achievements and performance 3.1 Activities during the year As we reflect on another academic year in SWYM there is much to be thankful for. The year began with an encouraging intake that included a number of 30-50 year olds beginning their courses which was encouragin8 and added more depth and experience to the group. It was good to see applicant numbers up after some years of lower numbers since just before COVID. We also celebrated with those graduating with their degree in the summer who have all secured ministry jobs. The highlight of this year was SPREE SW because of the leap of faith we took in running this on our own injune 2024 after Urban Saints pulled out of the event due to financial constraints. There was a huge amount of work that had to be done behind the scenes from Insurance, Health and Safety, building a bigger team of volunteers and so much more. It was amazing therefore to see the event run so smoothly and with the largest attendance ever. We had 2500 on site with a growth of over 400 delegates from 2023. It was amazing to get so much positive feedback and to hear so many stories of children and young people encounteringjesus for themselves. We continued to run Activate residentials with Live Football. Geek Factory being fully booked and Into the Wild growing and starting to become established. We had some wonderful stories of young people engaging with faith and wanting to know more as they headed back to their churches and groups with several having decided to followjesus. TAG conference was again fully booked and saw a group of 125 15-19year olds with leaders for the weekend at Lee Abbey with some great feedback and stories of young people growing in their faith, making decisions to be baptised. A number of those who attended moved on to take part in the TAG Pioneers course
SOUTH WEST YOUTH MINISTRIES TRUSTEES. ANNUAL REPORT INCLUDING DIRECTORS. REPORT FOR THE YEAR TO 31ST AUGUST 2024 3. Achievements and performance 3.1 Activities during the year (continued) fromJan-July with again some great feedback including young people starting Cu's in their schools and leading their friends tojesus. We continued to serve Satellites Youth Festival with the 'Transform' venue which was well received as well as helping sUPPOrt the youth tent at Creation Fest. On top of these partnership projects, we managed to continue to develop partnership with Exeter Diocese delivering 'Launchpad' to help clergy in Devon start youth work in their parishes where there is currently nothing. This was a great success and will hopefully open opportunities to help develop similar partnerships in other Dioceses and denominations. Finally, we have made some steps forward this year in launching a broader SWYM Community for youth, children and families, workers across the region. Tim Funnell was appolnted with the goal to develop a package off the back of our'mapping the Landscape, research a few years ago so that we might try and combat isolation, poor line management, support and create connection and community for those who lack access to this across the region. 4.Future plans As we head into 2024125, we look forward to continuing to serve local churches across the SW as they seek to reach out to children, young people and families. The focus for this academic year is to launch a pilot year of the SWYM Community Project where we will be providing a support package for Youth, Children and Families, workers across the region. This pilot year will begin with a cohort of around 20 workers injanuary 2025 with the aim that this group will help us shape and critique the package in readiness for a full launch in Jan 2026. There are plans for a new activate residential called 'Made for More, a new residential for girls to explore faith and identity, based in Cornwall. This will be on top of the other Activate residentials currently running, We will look to launch a Plymouth wide area youth termly gathering for Christian young people In partnership with local churches. We will continue to recruit trainees based in local churches and will work hard to raise up young leaders through TAG conference and Pioneers as well as through local gatherings of young people across the region. Our hope is to identify young people in local churches and communities in the SW in whom we can invest to enable them to explore serving children and young people full time whilst studying with SWYM. It is a stated aim to build on partnerships with organisations such as Youthscape, Creation Fest. Moorlands and Scripture Union, Devon Christian Youth Camps and more as well as with denominations in the region to help forge greater levels of unity across the area. This will include partnering on Satellites, Creation Fest Youth Tent and DCYC Senior Mixed Camp. Finally, we will be working to continue to grow and establish SPREE SW as an event with more churches and an even fuller representation of each part of the SW region. Our hope is to maintain the numbers from 2024 and if we could draw in another 1-200 delegates that would be excellent. Lots to look fOard to as we head into this new academic year.
SOUTH WEST YOUTH MINISTRIES TRUSTEES. ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR TO 31ST AUGUST 2024 5. Financial review The charitable company shows a surplus in the year of £32,751 {2023- surplus £64,653). Total income increased by 33% compared to 2023- this increase primarily due to the fees received from the Spree SW festival which was the first time the charity had run this event on its own. Training fees increased by 5% and income from grants and donations decreased by 13.6% compared to the previous year. Total expenditure increased by 46% compared to 2023- again most of this increase due to the Spree SW festival costs. Employment costs increased by 10.9%. Management and administration costs remained fairly stable. The charitable companls funds therefore totaled £540,768 at 31 SIAugust 2024 of which £168,380 is held in restricted funds. 5.1 Reserves Policy Unrestricted reserves totalled £161,693 (excluding fixed assets) at 31SI August 2024. This covers between 8 and 9 months unrestricted employment, management and administration costs. It is the trustees decision to hold 6 months of employment. management and administration costs. The SPREE festival will be run again in June 2025 and we are subject to the vagaries in the number of bookings and find it expedient to hold reserves sufficient to cover any substantial reduction in bookings. Once we can perceive a pattern over a number of years it may be possible to adjust our stance. 6. Trustees and Volunteers The trustees. who are direttors for the purpose of company law. who served on the Board during the year and up to the date of this report, are set out on page 4. We wish to acknowledge the very valuable contribution made by all our volunteers. Without the help and support of this team we simply would not be able to achieve all that we have achieved. 7. Statement of Trustees. responsibilities The trustees (who are also the directors of South West Youth Ministries) are responsible for preparing the annual report and the accounts in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company for that period. In preparing these financial statements, the directors are required to: select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charities SORP,. makejudgements and estimates that are reasonable and prudent; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Soiml WEST YoufH MINISTRIES TRUSTEES, ANNUAL REPORT INCLUDING DIREcfoRS' REPORT FOR THE YEAR TO 31sr AUGUST 2024 7. Statement of Trustees. r•sponsibillties (continued) The director5 are responsible for keeping adequate accounting records that are Sufficient to show and explain the companys transactions and disclose with reasonable accurary at any time the financial position of the charitable company and to enable them to ensure that the financial statements comptry with the Companies Act 2006. They are also responsible for safe8uardiTTg the assets of the charitable company and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularities. This report which have been prepared in accordance with the provi relating to small companies was approved by the trustees on ..... behalf by: ion in the Companies Act 2006 . and signed on their el Preston. Chalr of Trujtees
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTH WEST YOUTH MINISTRIES I report on the accounts of the company for the year to 31S1 Au8USt 2024 which are set out on pages 11 to 22. Responsibilities and basis of report As the charitys (rustees of the Company land also its directors fof the purposes of company law) you are responsible for the preparation of rhe accounts in accordance with the requifements of the Companies Act 20061'the 2006 Act,). Having satisfied myself that the accounts of the Company are not requlred to be audited under Pari 16 of the 2006 Act and are eligible for independent examinatlon, I report In respect of my examination of your charitys accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Acfl. In carryin8 Out my examlnation I have followed the Direciions given by the Charity Commission under section 145151 Ibl of Ihe 2011 Act. The charitls gross income exceeded £250,000 and i am qualified to undertake the examinatlon by being a qualified member of the Association of Accounting Techniclans and a Fellow of the Associatlon of Charity Independent Examiners. Independent examiner's statement I have compleied my examination. I confirm that no marters have come to my attention in conneciion with the examinarion giving me cause to believe,. accounting records were not kept in respect of the Company as required by section 386 of Ihe 2006 act,. or the accounts do not accord with those records,, or 3. the accounts do not comply with the accounting requlrements of section 396 of the 2006 Act Other than any requirement that the accounts give a 'true and fair vieW which is not a matter considered as part of an independeni examination., or 4. the accounts have not been prepared in accordance with the methods and principles of the siatement of Recommended Practice for accounting and reportin8 by charities (applicable to charities preparin8 their accounts in accordance vvith the Financial Reportins Standard applicable irs the UK and Republlc of Ireland {FRS 10211. I have no concerns and I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understandin8 of the accounis to be reached. Mr M Cronin MAAT FCIE Bowhill Bookkeeping Servlces 172 Newman Road Exeter EX41PQ C& Date TTrVX LO LS 10
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sourH WEST YoirrH MINISTRIES BALANCE SHEEr AS AT 31sr AUGUST 2024 At31st August 2024 At 31" August FIXED ASSErs: Tangible assets 210.685 220,952 Debtors Cash at bank and in hand 67,689 234.240 355.136 301.929 LIABILrnES: Creditors.. Amountg falling duo wlthin one year 125.063) 114.864) 330,073 287.065 TOTAL NEfASSErs 540.708 508,017 THE FUNDS OF THE CHARrrY.. Re8tficled Income Fund8 Unre8lricted Funds 10 117,9eA 390,053 372388 TOTAL CHApJfY FUNDS 540.768 508,017 For the year endlng 31X Au8USt 2024, the charftable company was entitled to exemption from audit under section 477 of the Companies Act 2IX)6 relating to small companies. The notes on pages 13-22 form an integral part of these accounts. Responslbllltles of lntee8 {a) The members have not required the charitable company to obtsin an audit of its accounts for the year in question in accordance with section 476 of the Companie5 ACL {b) The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act with respett to accountin8 records and the preparation of accounts. These financial statement5 have been prepared in accordance with the provisions applicable to small companies 5ubjert to the small c nies, regime and in accordance with FRS 102 and were appri)ved by the trustees on........ .. . and signed on their behalf by. Joel Preston. Chalr of Trustees 12
SOUTH WEST YOUTH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31ST AUGUST 2024 I. ACCOUNTING POLICIES a) Basis of Accounting The financial statements have been prepared underthe historical cost convention with item5 recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts. The financial statements have been prepared with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019)- (Charities SORP IFRS 102)) and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102). The financial statements have also been prepared with the Charities Act 2011 as amended by the Charities Act 2022 and the small Companie5 regime (section 419 {2) of the Companies Act 2006. South West Youth Ministries meets the definition of a public benefit entity under FRS 102. b) Tangible Fixed Assets Assets costing less than £500 are not capitalised and are written off at the time of purchase, Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost over their expected useful economic lifetime at the following rates. Freehold Propety- 2q6 on a straight line basis Fixtures and Fittings - 15% on a straight line basis Computer Equipment- 33.3% per annum on a straight line basis Motor Vehicles- 25% per annum on a straight line basis c) Debtors and Prepayments Debtors are recognised at their cash value expected to be received. Debtors include grants that are recognised as income as per the conditions of the Charity SORP and training fees invoiced for the next financial year but not yet received. The gift aid debtor is recognised and included as income when there is a valid declaration from the donor. Prepayments are valued at the amount prepaid net of any trade discounts due. d) Cash at bank Cash at bank includes short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. e) Creditors Creditors are recognised when 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 are normally recognised at their settlement amount after allowin8 for any trade discounts due. f) Deferred Income The charity has included training fees, camp fees and spree fees received in advance for training courses and camps in the next financial year as deferred income. 13
SOUTH WESTYOUTH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31ST AUGUST 2024 ACCOUNTING POLICIES (continued) g) Income All income is included in the Statement of Financial Activities when the charity is legally entitled to the income, receipt is probable and the amount can be quantified with reasonable accuracy. Donations are recognised when received by or on behalf of the charity. Gift aid tax refunds are recognised on a receivable basis. Gift aid receivable is included in income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. h) Volunteer help The value of any voluntary help received is not included in the accounts but Is described in the trustees, annual report i) Expenditure Expenditure is included on an accruals basis. Raising funds is expenditure incurred on increasing the donation base of the charity. Charitable expenditure is costs incurred by the charity in the delivery of its activities and services for its beneficiaries. j) The Funds of the Charity Funds held by the charity are.. Unrestrlcted Funds These are funds that are not subject to any restrictions regarding their use and are available for application within the charitable objects for the general purposes of the charity. Restrlcted Income Funds These are funds which can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when the funds are raised for particular purposes. k) Financial Instruments The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. l) Going concern The trustees consider there are no material uncertainties about the charitys ability to continue as a going concern. Z LEGAL STATUS OF THE CHARITY The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. 14
SOUTH WESTYOUTH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31ST AUGUST 2024 3. TAXATION As a charity, South West Youth Ministries is exempt from tax on income and gains falling within sections 466 to 493 of the Corporation Tax Act 2010 to the extent that these are applied to its charitable purposes. No tax charges have arisen in the charity. 4. EMPLOYMENT COSTS Total remuneration for the year amounted to £287,030. Gross salaries amounted to £263,147. Employer NIC (less £5,000 employment allowance) amounted to £13,357. Pension payments amounted to £10,526. There were no employees with remuneration above £60,000. The average number of employees for the year was 15. Gross salaries remunerated to key management personnel totalled £46,894. Employer nic for key management personnel totalled £4,388. Employers. Pension costs for key management personnel totalled £1,635. In addition, £10 was paid to key management personnel for mobile phone expenses and £3,494 repaid to key management personnel for travel and subsistence and training expenses. 5. TRUSTEES, REMUNERATION AND EXPENSES No remuneration directly or indirectly out of the funds of the charitable company was paid or is due for the year to any trustee or to any person or persons known to be connected to any of them. No reimbursement of expenses in respect of services provided has been made or is due to be made to any of the trustees in respect of the year. The charitys insurance includes trustee indemnity insurance. TANGIBLE FIXED ASSETS Fraéhold Proparty Flxtures & Flttlngs Comput•r equlpment Motor Vehlcles Totsl COST Ai 1 September 2023 Additions 238,028 15,207 4,789 2,347 12,745 270.769 2,347 At 311t August 2024 238,028 15,207 7.136 12,745 273.116 DEPRECIATION At I Seplember 2023 Charge for year 33,786 4,761 8,155 2,281 1,863 2,376 6,613 3,186 49.817 12,604 At 31BI August 2024 37,947 10,436 4,239 9,799 62,421 NET BOOK VALUE At 3181 August 2024 200,081 4,771 2,897 2,946 210.695 At 31 August 2023 204,842 7,052 2.926 6.132 220.952 15
SOUTH WESTYOUTH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31ST AUGUST 2024 7. DEBTORS 2024 2023 Granls & Donations Training fees Income tax recoverable (Gift Aid) Other Debtors Prepayments 34,000 9,241 1.201 1,993 4.351 58,500 5.297 1,223 2,669 50.786 67,689 8. CREDITORS: Amounts falling due wlthin one year 2024 2023 Payroll taxes and social security Deferred Income Other creditors and accruals 5.574 4.635 14.854 4,725 7,280 2,859 25.063 14,864 9. DEFERRED INCOME 2024 2023 Balance at 131 September 2023 Amount released to incoming resources Amount deferred in the year 7.280 {7.280) 4.635 5.235 15.2351 7,280 Balance at 311t August 2024 4.635 7,280 16
SOUTH WESTYOUTH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31ST AUGUST 2024 10. RESTRICTED FUNDsnRANSFERS BETWEEN FUNDS Transfers From Unrestricted Funds Fund Balances BIFonNard Fund Balances C/FonNard Income Expenditure WiltshirelGloucstershire Area Evangelism Training Sport Spree SW Activate Residentials etc TAG Live Football Guernsey Gathering Dorset Trainees Truro Diocese Research 76.173 8,373 26,000 120,7791 17.1421 12201 1206,1491 111,5391 110.3151 112,0001 12,000 180 69.394 13,231 7.168 10.176 270,801 71,820 1,363 14,645 11,500 6.000 1.386 4J30 1,327 4.012 1,695 9.000 173 18,6091 11581 13,7211 19,7001 15,4911 1,403 2,923 5,279 8,700 5.000 1,000 491 Total Funds 117,964 331,032 1283.8231 3.207 168.380 Wiltshire/Gloucestershire Area Further grants totaling £26,000 were given alongside the brought forward amount of £76,173 to develop the charitys work in the WiltshirelGloucestershire area. A transfer of £12,000 was made to the Evangelism restricted fund from a grant given from thejerusalem Trust. A balance of £69.394 was carried forward. Evangelism £7,142 was spent during the year on evangelism training, £12,000 was received as a transfer from the WiltshirelGloucestershire area restricted fund being a grant given from the Jerusalem Trust. A balance of £13,231 was carried forward. Sport £220 was spent from this fund in the year, clearing the opening balance of £40. with a transfer of £180 from the unrestricted funds. Spree SW Income received totaling £270,801 were given to cover the costs of thi5 annual youth event. Costs of £206,149 meant there was a balance carried forward of £71,820 to be spent on the current yearfs youth event. Activate Residentials/Day Events/Resources £11,539 was spent for the above. A transfer of 1,363 was made from the unrestricted funds as expenditure exceeded the amounts in the fund. 17
SOUTH WESTYOUTH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31ST AUGUST 2024 10. RESTRICTED FUNDsftRANSFERS BETWEEN FUNDS (continued) TAG Project Grants and donations, gift aid and camp fees totaling £14,645 were given towards this project in which SWYM provides young adults in the 17-21 age bracket with leadership training under the name of TAG (Transforming A Generation). Costs totaled £10,315, leaving a balance carried forward of £4,330. Live Football A grant of £1,500 was returned to the grant provider as this fund is now closed. A transfer of £173 was made from the unrestricted funds as the grant exceeded the opening balance. Guernsey A grant of £6,000 was given to this work during the year. Costs amounted to £8,609 leaving a balance carried forward of £1,403. Gathering Camp fees received in the year totalled £1,386 with costs of £158, leaving a balance carried forward of £2,923. Dorset £3,207 was spent in the year from a brought forward balance of £9,000 to develop the charitys work In Dorset. Trainees Grants and donations totalling £8,700 were given during the year. Costs exceeded the amounts given, so a transfer of £1,000 was made from the unrestricted funds. Truro Diocese Research A grant totalling £5,000 was given by Truro Diocese to explore how the charity can assist churches in the diocese to develop their youth work. 18
SOUTH WESTYOUTH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31ST AUGUST 2024 10. RESTRICTED FUNDsttRANSFERS BETWEEN FUNDS (continued) Previous Year Transfers From Unrestricted Funds Fund Balances BIForward Fund Balances C/FonNard Income Expendlture WiltshirelGloucstershire Area Evangelism Training Sport Spree SW Activate Residentials etc Geek Factory Cornwall TAG Live Football Guernsey Gathering Dorset Satellites Trainees 6,663 88,000 8,500 118,4901 1127 18351 120.7581 113,3041 13,8071 113,7631 {18,8611 76,173 8,373 40 7.168 10.176 875 27.926 23.480 3,434 5,000 15.824 373 8,763 3,037 1.327 6,000 526 1.327 4,012 1,695 9.000 11,988 14311 1,600 9,000 1.315 895 11,534} 19001 219 Total Funds 38,871 161,494 194,7981 12,397 117,964 11. ANALYSIS OF FUNDS Unrnstrlctod Funds R88tricted Funds Totals Fixed Assets Current Assets Current Liabilities 210,695 168.589 16,896 210.695 355.136 125.0631 186.547 118,1671 Net Assets 372,388 168,380 540.768 Previous Year Unrestricted Funds Restricted Funds Totals Fixed Assets Current Assets Current Liabilities 220,952 178.015 18,9141 220.952 301.929 114.8641 123,914 15,9501 Net Assets 390,053 117,964 508.017 19
SOLrrH WEST YOUTH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31ST AUGUST 2024 IZ RELATED PARTY TRANSACTIONS There were no related party transactions during the year. A total of £4,355 donation income was given by trustees and related parties without conditions during the year. 13. ACCOUNTING & INDEPENDENT EXAMINATION £1,580 was paid for the charitys independent examination in the year which included an element for accounts preparation. 20
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