Prospex
(A company limited by guarantee)
Annual Report and Accounts
Year ended: 31 May 2024
Charity No: 1087591
Company No: 04224699

AMWAL REPORT AhD AccoiNrs
YEAR EhtED 31 MAY 2024
Legal and thiimstrative in10￿alK)n
Trustees I directors report
(Incorporatwig the CEO'S re￿rt}
sktemwt of trustee res￿nSi1).1[tss
li
Report ol the in(Èpendent exaniner
12
stateM￿t of financia activits'es
13
Balan￿ sheet
14
ststem￿t of cash floAvs
15
Notesto the accoun
16

LEGAL AND ADMINISTrATIVE INF4)RMATION
Status
The organisation is a private charitable comparylimted byguarantee. incorporated on 29 May 2001 a￿j
registered as a charity on 18 July 2001.
Company Number
04224699 (England & Vkles)
Charlty Registration NumI￿r
1087591 (England & Vlales)
Trustees IDirectors
Danielle Cohen
Monique Ferdinand
Mike Hickes (Chair)
Vlad Levits
Frances Middleton
Ruth Richards (resigned 13th June 2023)
Robin Vos
Marjorie Waymouth
Secretary
Robin Vos
Reglstered Office
The Underground Youth Centre. Piper Close. Holloway, London. N7 8TQ
Operating Address
The Underground Youlh Centre. Piperclose. Holloway. London. N7 8TQ
Independent Examiners
Paul Howley & Co Limited, 42 Pitt StreeL Bamsley. South Yorkshire. S70 IBB
Bankers
HSBC PLC, Lion House. 25 Islington High StreeL London, Nl 9LJ

Prospex
TRUSTEES REPORT FChR THE YEAR ENDED 31 MAY 2024
The trustees present theii Annual Report and Accounts for the year ended 31 May 2024. The tnistees are ak)
directors of the charitable company for the purposes of company law.
The Trustee's Report has been prepared in accordan￿ wrth the Charities SORP (FRS102). the Financial
Reporting Standards applicable in the UK and Republicof Ireland, the CharitiesAct2011 and UK Generally
Accepted Accounting Practice. The Charity is a public benefÉt entity as defined ty FRSIO2.
Structure, Governance and MawJement
Prospexwasestsblished undera MemorandwnofAssoaation.which establshedthe objectivesand powers of the
charitable company and isgovemed under its Articles of Association. Underthose ￿tiCleS (as amended). trustees
are elected at the AGM. One third of trustees must retsre at each AGM and may be reelected.
The District Church Counal of St Andrew's Church, Bamsbury has the right to appointone trustee. who is not
required to rets're by rotation.
Members of the charitable company guarantee to conlribute an amount not exceeding £1 to the assets of the
charitable (x)mpany in the event of winding up. The totd number of such guarantees at 31 May 202 4 was 7.
The organisatr'on is a charitable company limited byguarantee, incorporated on 29 May 2001 and registered as a
charity on 18 July 2001. Further det￿lS of the stattjs of the cornpanyare given on page 3. The Board of Trustees
meets at least six ts'mes a year to provide the overall strategic guidan￿ and direction for the charitabk ccthpary
and to ensure that the highest standards of g0Veman￿ are maintsined.
The day kn day running of the charity has been delegaÈd from Chair of Trustees Mike Hickes to CEO Richard
Frankland.
Trustee Recrullment and Trainiry
As vacancies arise on the Board ofTrustees, Ihe charity endeavoursto attract nominations to replace the lostareas
of experttse and,where appropriate,accommfxlate newly idert'fEd imFQrtantareas of knowle(h3e andlor expeit
absent from the team. At the same time, we are looking to increase dIVer￿ty amongst our tru￿eeS.
Newtrustees are brieled ontheir legal obligati￿5 undercharityand comwylaw, the contentof Ihe Memor
and Artides of Associatson,thecommittee and decisKin-m*r'ng process and the currentperformarce of the charty.
Mosttsijstees are alreadyfamiliarwith the practical workof the charity butare introduced to the key employ￿$
other trustees. All trustees are required to sign up to Prospex'8 Code of Condu(X for trustees.
Objectives and activilies f(Y the public benefft
Prospex is a grassroots, Islington-based youth charity, supporting young people aged 8 to 21 whose life chanr
are affected through circumstances outside their control: povety, social deprivation, high unemployment ￿K1
crime.our organisationworkstohelpyoung peoplefaceupto anddealwith these negative InflUer￿es,wh1Ch(
result in low selfosteem and poor school attendan￿, leading to limrted employmeni prospects.
Through Ihe provision of posrtive Telationshps togetherwithtransferrablelife and empbyablity skills, young Fe¥È
areableto broadentheirhorizonsoutsidethe limitsoftheirexists"ngthinking and are giventhetoolstoachieveth8r
goals.
Prospex engages with young people aged 8-21 in the London Borough of Islington and offers a¢￿sS to tailiThl
setvicesand Oppor￿nItieSthat can be life-changng foryoung peopÈ.MÈ put young people firstand supportthem
in building Self-confid￿￿. developing lasting friendships, gaining new eXperien￿S and in developing life and
employmentskills.
TRusfEES REPORT FOR THE YEAR ENDED 31 MAY 2024 {eontinued)

Prospex
Objectives and activities for the publlc benefft (Conti￿d)
Each young person istreated as a unique individual.our focusis on recognisingand meetingtheirunique needs
through the power of specialised youth workprovided bytalentrd and highlytratned and skilled staff. In everythirKJ
we do. we a￿ aiming to build essential lifeskills. induding emcAional intej1rJe￿e and interperso￿1 skills. We vaue
community and patherships. and we work alongside others io achieve the bestfor young people.
Diversity and Equity lie at the heart ot everything we do at Prospex. also ensure Ihe highest Safeguar￿
standards in everyarea ofourworf(. By leveraging the powerofyouth WOTkto engage wrth young people, we iThne
to under*and them as individuals and provide accessto relationships. expetiencesand servi￿s1hat can cha
lives.
Our work takes place in communities with high levels of povety, social deprivatson, mental health issues,
unem ployment and crime. We strongly believe in the power of posits.ve eXperien￿S and relationships to extoT¥J
horizons, challenge precOn￿p￿(nS and supporteveryyoung person to reach their potential. ￿ aim to suppat
each individual on their paih to adulthood, helpingthem develcpthe skillsand confidencetofind a pemanent r(￿È
out of povety.
Islington has one ofthe largest poverty gaps in the UK. Both the past pandemicand currenteconomic crisis ha
increased the need in communw.es as a result of increasing pressure on mental health, education and hoU￿J
provision which are being lelt by Ihe young people we are woth.ng witrb. The cost-of-living crisis is pushiTrJ m￿e
and more families into povety and increa9ng pressures on those already in poverty.
Our priority is to consolidate. strengthen and build on Ihe work we already deliver well, and we have signif￿anty
extended our reach within Ihe borough in this way through enhan￿d detached wort( and Street Team a￿1vIty in
pathership wtth Islington Council. This initiative has both enhanced our existing relationshi￿ with young pey
and is resulting in many new ones. IAÈ are now also fo(￿Sed on developingour communityof support arKI
parLnerships so that the growing and emerging needs Ihai we are encou ntenng can be meL
Jrther details of ourwork in this past year can be found in the CECYS report below.
Prospex wqKk is comwised five fwxlatlonal elements:
l. Dynamic, integrated solutlons - Programmes that are designed to adapt and evolve with the changirrJ
dynamiGS of a vulnerable commurity and ensure both short-term as well as sustained long-tem) action aJKI
collaboration to ensure maximum positive impact and outcomes for the young people.
2. Safety and protection from violence - Outreach and engagemwttto build long-temi stable relationshipswith
disadvantaged young people outsidethe system. on the street young people who are vulnerable and at high risk
due to gang violence. povety, abuse, and an insecure home lite.
3. Self-confidence, awareness arKI engagement in life - Expose young people to and engagethem in p051
lationships. activities, programm￿, groups and experiences in which they build seFI-confithntr, reduce their
vulnerability. leam how to 1ookafterthemse￿eS in bodyand mnd, be with others and develq) a broader aWa￿esS
of and aspirations towards the true po&sibilits"es of life.
4. Skills devel¢Jpment for lile and work - Solffiions Ihat grow prac17cal inter-relatsonal and life skn'lls, create
ffleaningftjl exper￿nc￿ and purpose. enhar￿e self-ktK)wÈdF, develop leaders and provKle practical work skills
whichenableyoung peopletobecomeapartof creatinga safer. moresecure community, abetter placeto live in,
work in and Ihrive in.
5. Coaching and personal Sup1￿ through the greatest qfifficulties - One-to-one praclical and emolNJnal
support to overcome very difficul persona] situatiorE. often involving physical, sexual abuse and grooming, (in
crime. knife crime. gang violence and deeply troubled home environments.

Prospex
TRUSTEES REPORT FOR THE YEAR ENDED 31 MAY 2024 (contlnuedl
The Trustees Board
The Board of Trustees meets every tsvo months. The Board is comprised 8 trustees and in addition has
Special Advisers providing supplementsry professional support in PR and ￿nan￿.
Danielle Cohen, Child Proteclion and Safeguarding
Monique Ferdinand. Mentsl Health and Vbtll Being
Mike Hickes, Chair of Trustees
Vlad Levitsky, Marketing and Project Management
Fran Middleton. Human Resources and Development
Fljth Flchards, PR and Digilal Communicalions
Robin Vos. Legal and Company Secretary
Marjorie INe￿nQuth, Local Community Relations
tNote. Sincethe end ofthe financial year, M￿jor[elVeYrnoth has retired and Rmth Fl'chards has moved away frc
the areaand stepped down as a Trustee. We arevery grateful to boih fortheir contribution. are in the Process
of recruiting a replacefflentTrustee for Ruth and wfrth the assistan￿ ot St Andrewshave appointed Aneisa Bok
to repla￿ Marjorie as their nomminaÈd Trustee.)
Special Athii5ers
Isabelle Gerretsen.. Special Advisor. Exiemal Cotnmunicalions an(J Promotion
lan Middleton, Finanaal Analysis. reporting and accounting SUPFM)rt
Operational Team
Richard Frankland. CEO
Alan Hopson, Senior Youth IAbrker
Carole Degirmenci. Senior Youth Vklrker
Charlotte Nwaordu, Youth Vknrker
Cathy Norri5, Business Development Manager
Eveltos Pagdades. Administrator
The Operationd Team are supported by strong team of salarted and sessional youth workers, as well as mar
volunteers. most of whom have been with us for many years.
The Patrons
Amol Rajan (JoumaEisL Broadcaster and V*iEr))
JHC Haynes (former Chief Executive of Haynes Publishing PLC)
Dame Emma Thompson DBE ( Actress and Screenwriter)

Prospex
TRUSTEES REPORT FOR THE YEAR ENDED 31 MAY 2024 (continued)
Safeguarding
Prospex has a dedicatsd Trustee with specific in4epth professiond eXperIe￿e and qualificats'orsto oversee our
child protection responsibil￿"es. The operational Team has fully trained youth workers as safeguardir¥J kad5
and our staff and trustees have parts"cipated in safeguarding awarerEss courses. Our young people are risk
assessed and then provided the correct level of supervision Ihat their needs require, either in groups or on a one-
on-one basis. These are regularly reviewed with end of session de-briefs to provide the best on-going suppL
required and are linked to Ihe improvement pro￿sS.
Staff Development
We pla￿ specid emphasis on Ihe continuous developm￿( retenlion and personal growih of our youth work
professionals. Staff Developrnert is planned through ouiannual appraisal process, as is succession planninu. As
we have grown overthe past 20 yearsthis has become increasin£*y integrd to our perfomianceas an organisath)n,
in recruiting and retaining high qualitytalentas well as for planning ourfutyre. This emphasisand commitsment
high quality developmentof our&aff will be contsriued in Ihe coming year.
Future Plans
The charity plans to cary on its current auivities in Ihe forlhcoming years to ensure the aims of the charity can
continue to be achieved. The Irustees are aware of funding requirements and togeiher with the Oper￿lord
are continuously lookn'ng to establish new sour￿5 of income tu support the variousprogrammes. The charity a&)
continues to concentrate on the recruitrnent of volunteers where necessary.
Financial Results
TotaE incomeforthe period amounted to £553,807 ofwhich £389,361 was givenwith restrictions on its use. Total
reSoUr￿S expended amounted to £520,877 giving a surplus £32.930. Total reserve5 at the balance sheet date
stood at £401￿57 of which £219.902 is resuicted. The trustees are satisfied with ihe financial pertormarte of
charitable company in the year.
Reserves Policy
The trustees have established a policywherebythe unre5trictd funds not committed orinvested in tangible fixed
assets (the "free reserves") held by the charitable COTn pany should be approximately 4 monthsof the tolal salary
related costs. which equates to around £80,000. At this level. the trustees feel thatthey would be able to contir
the current ath"vitses in the event of a signrficant drop in funding. The tree reserve as at 31 May 2024 stood at
approximately £181,655 (2023: £194.189). The Trustees have designated £94.579 (2023: £110.930) of the
unrestricted tunds to meet essenti￿ fu￿re spending.
Envesthient policy
AS the chari1ablecompan￿SfundSWll1 be needed in the shortterm, the trustees are of the beliefthat it is prud¥
for all funds to be held in cash. on deposit wilh the companys bankers or with other financia insD"IUDons offen.ro
more compettsve rates.

Prospex
TRUSTEES REPORT FOR THE YEAR ENDED 31 MAY 2024 (conilnued)
Prospex pay aNJ reMU￿ratIOn
Prospex pay and remuneration poliey is based on three fa(lors.
A performar￿e based annual review of each employee aganst goals agreed and defined with their
supervisor each year.
An element related to proteclion of employees against upward variations in the general cost of living.
an assessment of the market we compete within to ensure we remain competitive in the pay
remunerats.on we provide employees.
Our policy is to be highty seleaive in both the recruitment and retention of our employees, to ensure we hire,
motivate and rets'n the very best In Ihis respectwe therefore aim to position ourpay above fflarketaverage rates.
For market comparators we rely on a combinaiion of revrew of local authority pay scales, publidy availab￿ tAy
review data and cost of living data, as well as infomiation from recruitment market sources.
Performance assessmerts and pay I remunerats'on reviews are develo￿￿ and prop￿ed each year by a TrusÈe
subgroup compristrg the CEO. the Trustee iesponsiblefor HR, and the Chairof Trustees, these proposalsare then
discus*d refined and agreed by the Trustee Board.
Prospex FundraislNJ Guidance
Prospex has adopted a diverse income generation strategy alongside comprehensive firHncBI poli(ies aJKI
practices to ensure futyre financial viabilty and accountability. ensure funders have Confidence in our
organisational integrity through aaing prof essionally in all areas of fundraising.
Income generaiion is the responsibilty of our BusTne&8 Developmert Manager (BDM). a paid role in the Charity.
The BDM, as a member of staff. is subject to the same professional standards as dl members of the Pros
charity's staff team. includingenharted Discbsureand Baring checksand regular supeNisK)n. The role of the BDM
predominanllyconsists of applying forand securing grants and contracts from statutory souices, charitable trusts
and overseeing our individual giving through regukr commuricaticn. Fundraising reporL% are submitted to every
Trustee meeting alongside management accounts.
Prospex embra￿S1he Fundraising Regulatorfs Stsndards. endeavourto ensure our funding supporters ha
trust and Confiden￿ in our fundratsing integrity indudiNJ treating people f￿[lY and with respect. explainiThJ wr
cause in a way which does not mislead people. and being sensitive to people who may be in vulneralk
cirCumstan￿s.
To ensurewe ad in accordance wilh these prinoples Prospex hasadopted Ihe Fundraising Regulatorfs Guid￿
in the tollowing areas
l. Behaviour when fundraising
2. Responsibilities of charitable instibjtions and Ihose who govern them
3. Processing personal data (Information)
4. Processing donations
Detailed infompti¢m aboutlhiscode of practi￿ is availa)le at

Prospex
TRUSTEES REPORT FOR THE YEAR ENDED 31 MAY 2024 (c(Nrtinued)
Independent EXaMi￿rS
The independent examiners, Paul Howley and Co Ltd. have expressed their willingness to continue in offi￿.
Conclusion
On behalt ofthe Trustees, the Trusteeswould like io expresstheirdeep grab"ttJde to all those who in so manyw
contribute so generouslyto Prospex. It isthisgenerositylhatmakesourworkpossible. Thankyou to the wide raroe
of funding organisaii¢Ms, corporates. businesses. charittble foundations, personal givers, and publlcfunders￿O
together fund Prospex. Thank you to all the individualsand oroupswho selflesslygive their bme and expertise in
supporting ourOperationalTeam in deliveriro prOspe￿SSer¥iceSand maingitall happen.Thankyouto the m
organi5ab.ons who partnertogetherwith Prospex to enable us ￿ broaden and deepen the soluoons we provKÈ atKI
Ihank you to Ihe Operational Team who are so utterly dedicated to Prospex.
tt is the total contnbutton of all these elementswhen puttogether that enables Prospexto make such a diffe￿
in our community. Please spread the word.
Mike Hickes - c￿1r of Trustees
es
21st January 2025

Prospex
TRUSTEES REPORT FOR TrIE YEAR ENDED 31 MAY 2024 (CONTINUED)
CE(Ys Report
We have had an extremely busyyear which has seen us workwilh moreyoung people across Islington than ever
and new partnershipsto strengthen ouroffer. ft has been anotheryearof seeing ourteam grow and we also won
an award!
Street team
This has been a hugely successful year delivering the firstyear of the Islington Enhanced detached youth wo
programme across Clerkenwdl. Bunhil. Tufnell Park. Finsbury Patk. Mildmay and the Elthome Estate. We hav2
also expanded with the VRU Robbery Fund which sees a team engaging young peop￿ 3 aftemoons aweekin the
N19 area of the Borough focusing on young people at risk of being exploited or those on the edges of exclusion.
sin￿ the start of the offer the team have had 1932 ellgagern￿ts wtth young people in designated areas. An
engagement is defined as having had a conversalion eitherto Introdu￿ the team or a tnore in-depth di5cusg)n
aboutyoung people's needs and interests. Physical activilies such as bowling, focrtballand basketballtsurnam&ts
have been great ￿oIStt} connectwith young people, and encourage them tofocus on their physical and emot.onai
wellbeing. The team have been able to support young people to a￿sS Ihese including through providing
necessary equipment5uch as boots and shin padSforyoungpeop￿ attendingthe'Playon the Pit¢h' day atArserd
stadium
Trips have also proven popular. and by uts"lising cafes and olher wami spa￿S the team have been able to ha
significantconversatiorL%with young people in need of sUp￿t. A notable instance being when Ihe teaffl sUPPOtMJ
ayoung personwho had 1eftcol1egedue￿ poOrMen￿ healthtoexploretheir Optionsandwrite aletter requestiNJ
support and advice to the college by making use of W-fi in a local cafe.
We continueto deliverdetached youth work in and around Ihe borough covering Laycockward, Caledonian Watl
and Hollowaywardwith a highfocuson North Road andthe Ringcrossareafunded bythe Hyde Foundation.Thi5
included thisyeara Rise up project that focused on 13 young people who ourstreet team have known forthe past
4 years with a 3-month intensive programme to really engage them, Chall￿ge behavi(xJrs and to integrate tHn
In￿ ourwiderhub programme,asaresult9gainedaccreditstion, 2wanttojoin ournextyoung leaderspr0￿lme
and 6 now altend the youth hub sessions regularly. The programme was a mix of actvities and learniro
opporttjnities and proved a real success and a templale fof fu￿re groups
also won a consortium bid called The Kickback Projectwhich is a violence reduaion initiattve fun(*d by ttE
My Ends VRU programme. This is made up of a collection of communtyand grassroots organisationsdedicaknl
to reducing violen￿, providing positi've activil]'esand increasing OppOr￿nI￿eS1oryoUng people to make Finsbury
Park a better placeto live, workand thrtve. The consonium is made up of Prospex, Wpers, Jigsawand LEAP and
together we offer detached youth worK mentoring support, universal youth support gangs and violen
intervent"on, youth voice, parentand famlysupp(rt therapeutic suppcrL leamingand develcpmertand communty
partherships.
The undergr(￿nd Youth Ceiitre.
This year has seen us engage 160 young peoplewith a fullweeldy programme forthe 8-13s and 14+. Offeriro a
safe space. sports, crafts, workshops. a hotmeal, the Prospex studio, Duke of Edinburgh award. trips and so mLth
more.This is a pla￿yOUng people andfamilieshavetold ustheyfeelcomfortableand havefun. leam new ski115
and grow as young people.
The Elthorne Youth Hub
In response to recentyouth violence on the Elthome Estate, including several murders. Prospex launched ayouh
hub in October2023 in pathershipwith Elthome Prideand Islington Coutril.The huboffersasafe spaCefOr￿￿j
people aged 13-19 to engage in positive activits"esand relax. sin￿ its launch. 60 young people have participat￿1,
including Ihose direcuy affected bythe violence.
The hub provides v￿louS activities. yjch as pool, gaming. ans and crafts, DJ workshops, and boxing sessions
Special events indude a London scavenger hunt a gaming day, and first aid workshops. Young people are
encouraged to share feedbad(to shape future athvitses. The hub also facililalesissue-based sessionson safety,
mental health, and other relevant topics.
In addition to activities, the hub offersfood, partjujlatyva1￿d byyoung pecpleIm￿Cted bythe cost-of-liviig cri￿.
The team collaborates with other Servi￿S, making refeffals for additional support where needed. The hub has
received positive teedback from participants, who value it as a safe and supportive space.

Prospex
TRUSTEES REPORT FOR THE YEAR ENDED 31 MAY 2024 (C(WITINUED)
CEO'S Report
.1 like coming here because ifs a pla￿Where young, like-min(*d peopÈ can ojme together to have fun, rela
and enjoy various actiwties.ll also has given me many OppOr￿ni￿eS to leam whilst having fun. forexample wFEn
people from StJohns Ambulance (2me and taughlus CPFf~ Young Person. Elthorne
Glrls Work
This has seen us deliver weekly sessions supporting 80 girls throughout wilh what is a popular and essent
programme. The weeklysessions exploretopics relevarntoyoung women andinclut*d a podcastseries 0f￿en
inworkwheregirfsmetyoung entrepreneursto inspirethem fortheirfutures.Thegirlsgroupalso had aresidentiaj
weekend to build on the weekty sessions
She is Supp(xted aka The SIS pr￿ect
We are very happyto annOun￿that we have been Granted 'Deliverand Develop, funding forthe next iwo yeaE5
by Propel London and this will increase the joined-up Girlsvknrk offer in Islington.
This is a consortium is made up ofProspex, MarWs Youlh Club.The Brandon Centreand HighburyRoundho
and so far is supporting 80 girls across the borough.
The aims are to offer
Acce&£ible weekly free Girls Groups across the borough
6 weeks of individual mentDring for 360 Girls by either a wellbeing ambassa(br or Youth worker. (140
supported so far)
There is a IherapeuDC pathway with The Brandon Centre for 50ffj0 high risk girls & Young women.
An annual residential for 40 Girls and Young l(bmen who are part of The SIS Project Yearly
will be recnjiting and training 8 wellbeing ambass&Jors a yearto support young people in peer mentor¥wJ.
Ideally 1-2 WA per Home club.
There isalso 6 Islington Girls SuperGroups ayearforGirfswho are partof any Girls Group acrossthe borol
coming together as a whole for a range of exciting OppOr￿n1￿"es.
It has been goingwell and included its first residential weekend for40 girfsfrom acmssthe borough.whichwasa
huge Suc￿ss.
By worting in partsiership and modelling whatposilive relationships beiween women can looklike. the team ha
seen the young women become more confKlertto make new friends. speak openly aboutthe issues they face as
girls. and encourage each otherto succeed.
'it will make the idea of therapy and counsellng a lot less scary for young people because Ihey haveny gotta
somewhere that is unfamiliar." _ Carole. Prospex T
It has been anotheryearwherewe have been able to offeryoung people a massiverange of outtjoor activitie5 a
residents'al weekends.
This has included regular canoeing and kaya]allo with qroups for our 8-13 with ac*ieving their certFficates.
along with 3 ofour 16+ gaining their paddle instructorscerts"ficatesalong with oursenioryouth workerand anoth
youth worker. This means that the young people ￿ eam as paddle insiructors.
We have delivered 10 residential weekerKls and our five-day summer camp over the year for 82 young peopk,
each giving the young people the OPPOnunityto experien￿ new Ihings. come out of their comfort zones aThJ
develop new friendships. These always challenge and build Confiden￿ and selfosteem.
We were exciÈd to re￿1ve Ihe London Youth A(fventure Awa￿ Novemberthal celebralesthis worf( and gave us
a real boost to carry on.

Prospex
TRUSTEES REPORT FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)
CErys Rep￿t
Wellbelng at Prospex
We are delighted to have finally recruited both our supemsor Iherapist and on site therapist tor young people at
Prospex. This is a progression of our PLC programme (Prospex Listens and Cares) PLC aims to provide
emotional well-being counselling foryoung people.
Provide fast ac￿sS￿ counselling foryoung people with qualified therapists. From the completion of the referral
forms young people can be seen within weeks of these being received.
Provide professional supetvision for Ihe therapists and the youth workers who work regularfy with the young
people.
This has been the progression from its launch during covid in 2020 offering online therapy to now having tace to
face sessions also available.
Our One-2-One support has also grown. and we have supported 26 young people over Ihe year, with a
structured 6-week programme that allows us to assess the support the young person needs whether that is
just a regular rneet with a youth worker lo chat or a referral to PLC. One-2-One takes many forms from
boxing Ifikness sessions. a chat over a coffee orsoftdrink, a craft activity all with the purpose on workn.ng on
issues or behaviours that are affecting the young people. This has helped young people with Anxiety
Understanding emotr'ons
Behavioural issues
School exclusions
Anger
Family issues
Griefiloss of a parent
Coping with divorce
Self-harm
Depression
School pressures
.1 leamt how to express rny own feelings.
°Mindful Gratiknde.
.1 leamt how to control my emotions"_Young People. Prospex
This has given a overview of the year and the key aTeas
f work but Ihere has been so much more
chard Frankland (Beefj
CEO
21 January 2025
io

Prospex
STATEMENT OF TRUSTEE RESPONSIBILMES
The trustees (who are also diredorsforlhe purposesof company law) are responsible for preparing the Trustees,
Report and the Accounts in accordan￿ with applicable law and United Kingdom Accounts"ng standards (UK
Generally Accepted Accountsng Practice).
The law applicable to charities in England & Wates requires the trustees to prepare Accounts for each finan(ial
yearwhich givea true and farviewofihe sLate ofaffairsofthe charitable companyandoftheincoming resour
and application of resources ofthe charttable companyforthat period. In preparing these Accounts. the trustees
are required to-
Select suiiable accounting policies and Ihen apply them consistenity"
Observe the methods and principles in the charities SORP"
Make judgements and estimates that are reasonable and prudent
State whether applicable accounting standards have been fo1bw￿, subject to any material departu
disclo*d and explained in the Accounts.
Prepare the Accountson the going concern basis unless it is inappropriateto presumethatthe charitalle
Company will conlinue in operation.
The trustees are responsible for keeping properaccountiry records thatdisclose with reasonable accuracy at ary
time the tinancial positt.on ofthe charitable Comp￿Yand enable them to ensure thatthe Accounts complywilh trE
Charities Act 2011. the applicable Charity (Accounts and Reports) Regulations and the provisions of the Trust
Deed. They are also responsible for safeguarding the assets of the charitable company and hence for takiro
reasonable steps for the preventon and detects'on of fraud and other irreoularities.
The trustees confimi thatthey have complied wilhlheirduty underseclion 17(5) ofthe 2011 CharitiesAct to haNE
due regard to the guidance published bythe Charities Commission.
So far as each trustee is aware, there is no information relevantto Ihe Independent Exafflinatson of which the
independentexaminers are unaware.
The trustees confimi thatthey have taken all the stepstheyoughtlo havetaken in orderto make Ihemselves
of any infom7ati￿ relevantto the Independent Exam inationand to make the independenl examliersaware of thal
information.
Approved by the trustees and signed on their behalt lry:
Mike H
kes
Chair of Trustees
21 January 2025
li

Prospex
REPORT OF THE WDEPENDENT EXAMINER
I reportto the charty trustees on myexamin&ion of the Accountsofthe charitable companyfortheyear ended 31
May 2024.
Responslbilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are
responsible for Ihe preparation of the accounts in accordance with Ihe requiremer15 of the CompanEs Act 2CM
('the 2006 Acr).
Having satisfied mysell Ihatthe accounts ofthe Companyare r7otrequired to be audited under Part 16 of the 201
Act and a￿ eligibleforindepend￿tex8MlnatiC￿, I report in respectof myexamination ofyourcharrty's accoun
as carried out undersethon 145of the Charitie5Act 2011 ('the 2011 Act). In ￿rying out my examination I haNE
followed the Directions given by the Charity Commission under section 145(5) (b) of Ihe 2011 ACL
Independent examiner's statement
Since the Company's gross income exceeded £250.000 your examinermustbe a memberof a body listed i)
section 145 of the 2011 Act I confimi that l am qualified to undertake the examnaticm because l am membw
The Association of Chartered Certified Accountants, which is one of the li*ed bodies.
I have completed my examination. I confirm that no rnatters have come to my attention in connection with the
examination giving me cause to believe..
l. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act" or
2. the accounts do not accord with those records; or
3. the accounts do not compty with the accounting requiremerts of seclion 396 of the 2006 Act other than any
requirementthatthe accountsgivea'true andfairviewwhith isnota matterconsidered aspartofan independ
examinats'on- or
4. the accounts have not been prepared in accordan￿ with the methods and principles ot the Statement of
Recommended Practiceforaccounting and reponing bychariiies lapplicableto charitses preparingtheiraccounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concems and have come across no othermatters in conneclion with the examinationto which attenti
should be drawn in this reportin order to enable a proper understanding of the accounts to be reached.
T R Ware, FCCA
Paul Howley & Co Limited
Chartered Certified Accountants
42 Pitt Street
Barnsley
S70 IBB
21 January 2025

Prospex
PROSPEX UMrrED
(REGISTERED CHARrrY NO 1087591. COMPANY NO 04224699)
STATEMENT OF RNANCIAL ACTivmES FOR THE YEAR ENDED 31 MAY 2024
Unrestrict&l
Restrictal
Funds
Total
Total
Funds
2024
2024
2024
2023
Note
INCOME
Income from generated funds
Donations and grants
Rent re￿iVed
82,039
2.495
15,580
11,286
442.407
524,446
2,4g5
15.580
11,286
363,172
12,689
13,500
Gift ald refund
Interest received
Total Income
111,400
442,407
553,807
389,361
EXPENDrruRE
Managing & Administering the
Charity
123.934
123,g34
iig.053
Charilable Activitses
396,943
396,943
267,790
Total Resources Expended
123,934
396,943
520,877
386,843
Net income I movement in lunds
(12,534)
45,464
32,930
2,518
Reconeiliation of Funds
Balan￿ as at l June 2022
194,189
174.438
368,627
366.109
Balance as at 31 May 2023
12113
181.655
219.902
401,557
368,627
For the purposes ofCompanyLaw, the above SOFA is also an Income and Expenditure Account
The annexed notes fonn part oflhese Accounts

Prospex
PROSPEX LthItTED
(REGISTERED CHARtrrf NO 1087591, COMPANY NO 04224699)
BALANCE SHEEfAT 31 MAY 2024
2024
2023
Note
FIXED ASSErs
CURRENT ASSErs
Debtors
18.929
555,807
574.736
16.059
497,851
513.910
Cash at bank and in hand
CREDrroRS'. Amounts due within one year
io
(173.179)
(145,283)
NEfcuRRENT ASSErs
401.557
368,627
401,557
368.627
FINANCED BY:
Restricted Funds
12
219,902
181.655
174,438
194,189
Unrestrlcted Funds
13
TOTAL FUNDS AT YEAR END
401.557
368,627
R)r the financial year to 31 May 2024, the company was entilled to exemptson under secton 477 of the
CompaniesAct2006 relats'ng to small companies. No members have required the company to obtsin an audit of
its accounts for the year to 31 May 2024, in accordance sectron 476 of Companies Act 2006.The directors
acknowledge their responsibility for complying wilh the requirements of the Actwilh respect to accounting
rewrds and for the preparation of accounts.
These accounts have been prepared in accordance with Ihe provisions applicable to companies subjectto Ihe
small companies regime.
The annexed notes tomi part of these Accounts
The Accountsw
reap
roved by the trusiees on 10 December 2024 and signed on their behalf by:
Mike Hickes
Chair of Trustses
14

Prospex
PROSPEX UMrrED
(REGSTERED CHARrrY NO 1087591. COMPANY NO 04224699)
STAIEMENT OF CASH FLOW FOR THE YEAR ENDED 31 MAY 2024
2024
2023
Net income I movement in lurnls
Net income forthe financial year
Adjustments for:
Depreciation of tangible assets
Interest re￿IVed
32,930
2,518
(11.286)
(2,870)
27.896
(Increase)Idecrease in debtors
(iecrease in crediiors
393
10.854
Net cash generated from operating activilies
46,670
13,765
Cash flows from investlNJ acdvities
Interest received
Net cash generated trom investiry activilies
11,286
Net Increase in cash aThl cash equfvalents
57,956
13,765
Cash and cash equivalents at beginning of year
Cash and cash equivalents at the end of year
497,851
484.086
555 807
497 851
Cash and cash equivalents at the end ot the Year comwlse:
Cash at bank and in hand
555 807
497 851

Prospex
PROSPEX LNrrED
(REGISTERED CHARtrY NO 1087591. COMPANY NO 04224699)
NOTES TO THE ACCOUNTS FOR TrIE YEAR ENDED 31 MAY 2024
ACCOUNnNG POLICIES
Basis of preparation of the Accounts
The Accounts have been prepared under Ihe historical c05t convenfr'on and in accordance with the
Statementof Recommended Practs"ce'. Accounb"ng and Reporb"ng by Charities preparing their accounts
accordance with the ￿nanCIal Reporting Standard applicable in the United Kingdom and Republic or
Ireland (FRS 102) and the Charits'es Act 2011 and UK Generally AC￿pted pra￿[ce.
Prospex meets the definition of a public benefitentity under FRS 102.
Having considered future plann&l aaiMties and Ihe resources avwlable L) the charttable company, tte
trusteesare satisfied thatthe Accounts should be prepared on the going concern basis.
Incomiry resi)UTces
All incoming resourcesare induded inthe Statementof ￿nan￿alAC￿"VltieSwhentheCharitablecOM￿9ry
is e[rtI￿ed to the income and the amount Gan be quaniified with reasonable accuracy. The follobMrKJ
specific poliaes are applicable to categorie5 Ot income-
Donations and Grants
Incomefrom donations and grants is induded in incoming resourceswhen these are receivable. ex￿0
as follows=
lthen donors specity that donations and grants gNen to the charitable company must be used in
future accounting years, the income is deferred until those years"
Mthen donors impose condits'onswhich haveto be fulfilled before Ihe charitable company beccwnes
enti11ed to use such income, the income isdeferred and not induded in incoming resour￿ until trE
pre-conditions tor use have been metand:
Imien donors specitythat donations and grants. induding capikl grants, are for particular restricted
purposeswhich do not amountto pre•conditionsforentitlementthis income isincluded in incoming
resources of reslrscted funds when re￿{vable.
Interest, rent and GiftAid receffvable
These re￿1VableS are included in the Statementof ￿nanCIat Activitses on an accruals basis.
Resources expeNled
Resourcesexpended are included in the Statementof Rnancial Activits"eson an a(1￿81'S basis, inclus
of any VAT which cannot be recovered. Certain expenditure is directly atttibutable to specific activitss
and has been induded in those calegories. Certain othercosts. which ate a￿Ibutab1e to fflore than or
activity, are aPPOllioned acrosscost categories based on an eSt[M￿ ofihe proponion of ts.me spent by
statt on Ihose activities.
Fund accounling
Funds held by the charitable company may be:
neralfvnd - these arefundswhich can be used in aC￿rdan￿wlth Ihe tharitsble compa￿S
objectives in the discretion of the trustees.
these are funds set aside by the trustees OLrt of unrestricted general fLMYts
for specific future purposes or projects.
Restri
nds - these are funds that ￿7 only be used for particular restricted pU￿oseS within the
objectives of Ihe charity. Restrictions arise when specified by Ihe donor or when funds are raised f
particular restricted purposes.
16

Prospex
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)
Tangible fixed assets and depre¢ot
Individual fixed assetscostsng £1.500 or more ate capitalisedatcost Impaimient reviews are carried (
by the ITUStees as and when arcuMstan￿S indicate a necesstty. Depreciation is calculated to write off
the cost of each asseL less any estsmated residuai value of each asset over its expecte(J useful lifr as
follows:
cc￿pUter ￿]u1)ment
VehicÈs
33% on wntten down value.
2096 on written down value.
Current debtors arKI credit(Ys
Debtorsand creditorswith no slated interest rate and receivable or payable within one year are recorckd
at Iransaction pri￿.
Deferred incfwne
Donations which have restriclions to which period they can be spenL Restricti'ons arise when specifHI
by the donor or when funds are raised for parlicular restricted purposes.
LEGAL STATUS OF THE CHARrrY
The charity is a com pany limited by guarantee and ha5 no share capital. The liabilityof eath Memb￿
the event of winding up is limited to £1.
DONATIONS AND GRANTS RECEIVABLE
Urwestricted
Restricted
Total
Total
2024
2023
Grants (see note 15)
Donats'ons
442,407
442,407
82.039
296,413
66,759
82.039
82,03g
442,407
524,446
363,172
RENTAL INCOME
This represents income received from renting outthe Underground Centre to other parlieswhen it is not
being used by Prospex.
17

Prospex
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)
EXPENDrruRE ON MANAGING AND ADMIIISTERING THE CHARrrY
unreStr￿ted
Restricted
Total
Total
2024
2023
Staff costs
57,479
3,502
11.286
57,479
3,502
11,286
77,682
334
Insuran
Telephone and infomation systems
Independentexaminerfees
10,249
2.010
Vehicle running costs
Other costs
1,515
47,508
1,515
47.508
1,739
27.039
123,934
123,934
119,053
EXPENDttURE ON CHAR￿ABLE ACTivmES
Unrestr￿ted
Restrthd
Total
2024
2023
Apportioned Staff costs
Charitable projects (including
apportioned staff costs)
107.846
107,846
104,884
289,097
289,097
162,906
396,943
396,943
267.790
STAFF COSTS AND TRUSTEES I DIRECTORS REMUNERATKIN AND EXPENSES
2024
2023
Total staff costs comprise:
Salaries and wages
Social security costs
346,647
15,162
263,169
13,402
261,809
276.571
The average number of employees was 20 (2023- 15)
No employee re￿iVed remuneration in eX￿sS of £60.CK)O during the year ended 31 May 202 4 (2023: nil).
No trusteeldirector was remunerated or received any expense pa￿nertS during the year ended 31 May 2024
during the preceding year.
Volunteers WO￿ across all areas of the tharity including fa￿-to-fa￿ delNery with young people, administratic
roles. accounts. trustees and special advisors.

Prospex
NOTES TO THE ACC￿NTs FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)
TANGIBLE FIXED ASSETS
Pkn and
equlpment
vehlcles
Total
Cost
At 31 May 2023
Additions
16,743
13,069
29,812
At 31 May 2024
16,743
13,069
29,812
Depreciation
At 31 May 2023
Provided for the year
At 31 May 2024
16.743
13.069
29,812
16.743
13,069
29.812
Net l)ook value
At 31 May 2023
At 31 May 2024
DEBTORS
2024
2023
Pre-payments and accrued income
18.929
18.929
io.
CREDrroRS: FALUNG DUE ￿1N ONE YEAR
2024
2023
PAYE and National Insuran
3.685
9,9916
159,578
173,179
3,017
4,170
138,096
145,283
Accruals
Deferred income
ii.
DEFERRED INCOME
2024
2023
Deferred income l June
138,096
126,208
Released in the year
Accrued in the year
(138,096)
159,578
(126,208)
138,096
Deferred income 21 May
159,578
138,096

Prospex
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024 (cop¥fiNUED)
12.
REsTR￿TED FUNDS
Asat
01106r2023
Incom*vJ CXrtgThrrfJ
Resowces
Resowces
Transfers
Transfers
Asat
31105r2024
Prospex Youth Hubs
Prospex Street Team
Prospex One0200ne
Administration and Management
New Building
Green Power
Chri51mas Hampers
Jack Petchey
Minibus
Breathe Proje(X
Kitchen Social
Holiday Scheme
Keeping It Imld
Newby Truest Covid 19 Program
Woodward Trust Covid Program
Hyde Housing Covid Relief
Program
LCR Covid Vtave 3
Getting Active
Postcode Lottery
PLC Mental Health
Packington Street Team
Sports Leadership
Gift Ball and Signs
Wndrush Program
Sports England
Youth Music
Podcast Program
Detached Program
JP Intem Program
Administration Costs
LBI Rise Up
Kitchen refurb
LBI Podcast
Gosling FoundatFon
Sport England SG
Million Hours
Propel
Cajon Project
Nepal Funding
Cloudesley 121
Elthorn House
Masonic re Core Costs
Garfield Weslon re Core Costs
13,212
34,973
10,944
20
3.623
5.705
491
14.042
2.409
7,279
4.086
75
1,048
70
632
20,033
9,801
19,561
19.432
2.692
107.846
3.623
5,705
19,389
25,342
8,252
lo7￿26
{5,705)
2.000
3.099
2.364
15.326
127
1.815
2,409
15,091
9.720
1,908
4.086
23,589
27,314
5.137
8,937
1,048
70
632
858
858
783
1,261
5.137
5,162
5,407
565
2,196
2,008
478
3,102
4.267
35,407
9,198
783
921
(5.137)
47,108
3,283
313
48,987
5,094
565
1,980
2,008
478
2,180
216
4,541
5,463
4,267
83.454
17,736
4,023
1,119
15.179
2,036
7.278
89,998
8,538
4.023
3,134
15.179
3.622
11.672
11.536
10,570
19.517
2,150
300
4.326
6,400
5.000
41,951
2,015
1,586
4,394
5,491
2,032
6,522
1,332
300
913
6,400
8.538
12.995
818
3.413
5.000
174,438
442,407
396,943
219,902

Prospex
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)
12.
RESTRICTED FUNDS CONThIUED
MAJOR PROGRAMME o￿AlLs.
Prospex Y(xrth Hubs
Providing a safe pla￿ where young people can meet,
socialise, and gain support from the Prospex team
Prospex Street Teams
Ongoing detached work.
Prospex One
A projertwhich helps to developyoung people on a one-
to-one basis.
New Building
General improvements.
Green Pcwer
Projects that focus on green issues.
Chrlstmas Hampers
Providingfestive food hampers to families we work with
who need a helping hand at this time of year.
Jack Petchey
GNen forthe youngpeople'sachievements. Each award
is £31X) to be used in a way that benefits the group.
Funding receÈved forthe purchase of mini-bus. Initial
purchase posted to fixed assets, running cots allocated
here.
Mlnlbus
Givingyoung people the opportunities to get out of the
rban environment and into the countryside to
challenge them both physically and mentally.
Breathe Project
Kitchen Social
Fundingto provide a fully cooked meal foryoung people
during the school holidays.
Providing day time provision, activities, trips, and
summer camp throughout the year during the school
holiday periods.
Hofiday Scheme
Woothard Trust Covid Program
Supporting ouryoung leaders programme.
PLC Mental Health
Fundingfor work aimed at the mental health of young
people.
The development of a tech hub, a creative space for
young people to learn and create music, film.
photography, art and digital content.
Technology Hub
Sports Eryland
Supporting young people in developing Kayaking skills.
21

Prospex
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)
RESTRICTED FUNDS CONTINUED
Youth Music
Providing the studio managerforthe tech hub teaching
young people how to write music and DJ.
Podcast Program
The Prospex Podcast, a youth led podcast.
Detached Program
Ongoing detached work.
JP Intern Pr￿raM
Paid Youth Work Assistant Intern.
Masonic Fundlng
Supporting ourgeneral work.
13.
UNRESTRICTED FUNDS
2024
2023
As at l June 2022
194.189
(12,534)
206,253
(12,064)
Net movement in funds
As at 31 May 2023
181,655
194,189
2024
2023
Designated reserve
- Staff Costs
59,400
35,179
94.579
83,156
27.774
- Other Costs
110,930
General reserve
87.076
83,259
181.655
194,189
RELATED PARTES
There were no relaEd pary transath.ons during the period.

Prospex
NOTES TO THE ACCCKJNTS FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)
15. RESTRICTED GRANTS
Funding Source
2024
2023
London Borough of Islington
The National Lottery Reaching Communi1ies Fund
City Bridge Trust
Anonymous Donatsons
Brandon Centre
108,799
87,616
47,108
37.656
18,963
15,000
11,536
io,ocrf)
9.981
9.801
9,470
8,920
8.538
6,672
6.400
5,000
5,000
4,541
4.325
3,750
5,134
2,500
2,303
2,150
2,042
2,000
3.250
1,800
1.299
553
49,711
78.740
3,525
44.507
Garfield and ￿￿Ston Foundation
Sports England Small grants
Betsy Foundation
BBC Children in Need- Small Grants Programme
Hyde Charilable Trust
LBI- small change big impact
TNLCF
15,000
10,000
10,480
19,000
Jack Petchy Intern
Gosling Foundation
Elthorne Pride
12,840
Charles S French Charitable Trust
Masonic Chanlable Trust
Youth Music Trailblazer Fund
Richard Cloudsley Foundation
Barbra Ihknrd Children's FoUnd￿lOn
5,000
1,668
London YoLrth
Enterprise Holdings Foundats"on
Xmas appeal transfer
Music for All
Co-op Community Fund
Isledon Arts
1,500
2,000
Mayor of London
JP Achievemeni award
Jack Petchy Foundation
Propel Funding
Contact a Family
Two Magpies Fund
Southem Housing Foundation
JP AchievementAward 24. JP Small Grants
GLA- Mayovs Young Londoners Fund
Hyde Housing Foundation Pakington
The Lonoon Community Foundation
Jack Petchy Foundatson Reignite
LBI HAF Funding
2,250
900
1.800
300
2,500
1,932
956
8.598
8,470
7,000
5,000
3,036
296,413
442,407