DAMILOLA TAYLOR TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 CONTEwrs Company details Legal & administrative Inforn￿tiOn Trustees, report Independent examiner's repK)rt 12 Statement of fulancial activities 13 Balance sheet 14 Notss to the financial statements 15 Company Rnformation for the year ended 31 May 2024 Supporters: We are grateful for suP￿rt that we receive Corporate supporters: Lysis Financial Norton Rose Fulbright Shell PIC The Co-op. Community Fund BBC Children in Need Youth Futures Foundation The Worshipful Company of Weavers GLA: Young Londoners Fund Metropolitan Thames Valley Housing AS￿latIOn Rio Ferdinand Foundation National Citizens Service (NCS) UK Youth Impact on Urban Health The Ub¢l¢ Initiative Many others provide their support in kind and through attendance at events Governmen( Trusts, Foundations and Partners: The National Lottery: Communities Fund. &Kial Enterprise Support Fund tK)ndon Community ReS￿￿- The Cty Bridge Trust Home Office- via VRU Commissioning Southwark Council MOPAC- Mayor of L4)ndon Policing and CrimelVRU Kings College London-Extended Medical Lkg￿e PrOgr￿￿e (EMDP) Hudl CIC Crying Sons Limited The HOF COll￿tiVe The Vin Club al and AdmRni8trative Inforniation Company name: Damilola Taylor Tn 18 Ba￿ingtoll Vill&s London SE18 3SB Company number: 04219111 Charity number. 1087597 Trustees: Th¢ trustees who ar¢ also d1￿ctOrS under company law who servd during the year and up to the date of this rep)rt were as follows: Mr Richard Taylor OBE died March 2024 Mr Tunde Taylor Dr Olugbenga Coker Mr Geoff Sheath Every member of the Company to wntribute an amount not exceeding £1 if the Company is wound up whftle he or she is a member or within a year afterwards and the Company has debts and liabilities whtch it cannot meet out of its assets. The total number of such guarantees at 31 May 2024 was 3 (20234). The tn￿eeS are members of the Company but as directors have voting rights. BankeTS: CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME194JQ Accountants: Impact Accountants Chartered Certified Accountants 124 Old School Place Croydon CRO 4GB Independent Examiner: Jenny AwKiates Chartered Certified Accountants 73 Heathfield Drive Mitcham Surrey CR4 3RD Report of trustees for the year ended 31 May 2024 The trllSt￿s are ple&sed to pr￿ent th¢ir annual dir¢ctors' rewrt togeth¢r with the fmancial statements of the charity for the year ended 31 May 2024 which arc also preparcd to meAt the r¢quitcments for the dir¢ctors' report and a￿Unts for Companies Acts PUryK)ses. The financial statements comply with the Clwities Act 2011, the Companies Act 2006. the Memordndum and Articl¢s ofAssociation and the Ststcment of Recommended Practi(x: Accounting and Reporting by Charities p￿paring their accounts in accordan¢¢ with the Financial Rewrting SL￿dard applicable in the UK and Republic of Ircland (FRS 102) Our purposes and activili The purposes of the charity are: The advancement of the education of children and young people, mainly but not exclusively through leisure time activities so as to develop their mentsl, physical and spiritual capacities that they may grow to full maturity as individuals and members of S(￿iety and to provide for them facilities for recreation and leisure time occupations. The relief of suffering and dtsability caused by or assx)ciated with epilepsy particularly among hildren and young people in West Afrir Such other charitable purpose or purp)ses as the thistees at their discretion shall decide. The vision that shapes our annual activities remains supw)rting young people of Londo￿ giving them the opportunity to live their lives free of fear and violence. In doing so our aim is that the young people ultimately fulfil their potential so thal they face the future with confidence and optimism. In shaping our objectives for the year and planning ouractivitie& the trustees have considered the Charity Commtssion's guidance on public ben¢fiL including the guidance 'public benefit: running a charity (PB2). Our approach is based on a number of CO￿ principles which aim at ensuring that the wsonal and social development needs of vulnerable young I￿pIC are met to enable them ￿a1]se their w)tential. The following assumptions guide our vision and the int¢rventions we make. The recognition that every child has a talenL which can be suPF￿ed and encouraged by a caring supporting environment. Social PTY)blem5 such as youth on youth crime arise fiDm and persist because of a complex combination of actions and omissions by players in all sectors -and therefore can be solved only by the coordinated efforts of those player4 from businesses to government agencies. funder charities and members of affected ￿)pUlationS A commitment to development of parthership approaches that allow collaborations with the community, medi4 other charities and institutions such as Kings College ￿ndon School of Medical Educatio￿ Hudl CEC, Crying Sons Ltd to expand the charity's work so it would reach groups of young ￿pIe from educatio￿llY and s(Kialty disadvantaged backgmunds. Review of activities Introduction Drafting this review of activities of the last 12 months leaves us in a sombre mood as we come to tem]s with the loss of the Chair of trustccs Mr Richard Taylor OBE, who passed away on 23 March 2024 after a prolonged battle with PTOState cancer. In line with his wishes, he was interred in the f￿st week of April in a private ceremony. This w&s followed with a remembrance service, "Celebration of Richard Adeyemi Taylor: A legacy of Hope" on I l May at Southwark Cathedtal. During the year under review, we ￿ntInued work on developing the Career Pathway Programme for School (CPPFS) product for offerAng as a ti3ding product. In addition, we delivered Peckham Hope Pack in conjunction with the Hope Collective and started work on putting a programme together on the issue of vaping and its negative impact on the health of young people. Further details of these activities are provided in the ensuing paragraphs. CPPFS -TradiDg product development The Career Pathway Programme for Schools (CPPFS) which wojks with young people (YP) aged 14-15 to re-engag¢ with their education and take steps towards professional careers is one of the interventions we implement to empower our beneficiaries to overcome disadvantage. We delivered CPPFS for three years 2020-22 in Harris Academy Peckham and Harris City Academy Crystal Palace with grant funding from the GLA. Along with the grdnt funded programme, we started work on developing a product aimed at a slightly different cohort of YP: students from highly deprived backgrounds that are failing to reach potential despite existing support. This group of YP may NOT necessarily be at risk of involvement in criminal activity nor exclusio What problem are we tying to solve with tbe CPPFS Trading product? We know that students from highly deprived backgrounds are failing diSpr0￿rtI0natejY to reach potential despite existing supporL We also know that schools are under pressure to deliver on an ever-demanding CU￿1cUlUrn, so they are unable to provide full &qreers planning nor activities that offer holistic and sustained work to change behaviour, mind-seL develop skills and career commitment in school. Despite mounting barriers to attalnment and opportunity, YP living in areas of high deprivation face a gap in servi(%s designed to help them overix)me disadvantsge. What they need are sustained, ambitious interventions which develop aspiration so that they can re-engage and resiliently sustain effort no n￿tter the set-backs. What possible solutions can we consider for addressing this problem? To k prepared for work YP need to develop a range of personal assets such &s resilience. grit and deterniination and soft skills for example, communication and problem solving. tn modelling a young person's journey to employment (JET) a number of factors have been shown by research to be the most imtK)rtant contributors to the employment outcome. The CPPFS trading product is designed to impact three of the JET framework factors: Emotional capabilities - an individual's ability to manage their emotions and persevere when setbacks occur. Attitudes: An individual's outlook and approach to learning and work Qualifications. education and training: The acquisition of knowl￿fye and experience through school, collcge or training. By supw)rting YP from deprived backgrounds to develop these &wts and skill4 we believe they will increase their chances of making the cnKial transition from education to the world of worL We are developing the CPPFS trading pr￿lUCt with the supp)rt of a Care￿S. education expert to be a high-impact programme: that identifies limiting beliefi that YP have acquired. provides tools to help YP overcome limiting beliefs. and replace them with empowering beliefs The product also includes a skills boot camp for young people to gain knowledge of career opportunities open to them, the skills and steps needed to get those opportunities. The CPPFS Trading product is one that develops &8piration, enables YP to set goals for their own education and equips them with tools and strategies to pursue those goals no matter the set-backs. The output of our development work- CPPFS trading prototype is scheduled for market testing in January 2025. Peckham Hope Hack The Hope Collective is a social impact. project that evolved out of the 20th anniversary of the Trust in 202012021. which proactively looks at solutions to poverty and inequality across the nation through stsging "Hope Hacks ' Hope Hacks are events where young people voice their solutions for what they think a fairer society looks like and how it might be achieved. They were created as youth engagement events that purposefully bring together a wid¢ range of community partners, providing safe i spaces for young people to discuss Vario￿ societal issues and policies that impact their lives and debate solutions to make them better. Peckham Hope Hack was staged at Mountview Theatsr on 10 December 2023 as part of the celebration of Day of Hope 2023 in association with Berkeley Homes. 11 The day featured inspirational speakers, special celebrity guests and a series of participation workshops where young people discuss the future of Peckham. Young people were the stars on the day supported by youth workers. Workshops topics considered were: Community safety & Mental Health Housing. TransIX)rt & Environment Education & Youth services The Arts, Music & Social Media The young people who took ydrt received packs which included a signed copy of Kenny Imafidon's book "That Peckham Boy" plus other g(N)dies. The event concluded with a Grand Finale with London Go4KI Choir and Speci￿ guests. including Mr Taylor OBE where YP presented their ide&s for a fairer, safer Peckham by 2030. Young people at the Peckham Hope Haek Fundraising support from Vin Club Vin Club, a private members club of Nigerians in the UK, with objects to make a positive difference to society through charitable efforts chose the Damilola Taylor Trust as the charity to support in 2023. Through a number of activities including a charity walk through central London and a Ball held on 14 October 2023, Vin club raised a total of £21,362 for the Trust. Trustees have considered using some of the Vin Club donation to develop an activity to respond to the emerging issue of vaping by young people that the Chair of ttl￿ees was particularly concerned about during the last six months of bis life. Plans for the Futhre Since Richard Taylor's sad death in March 2024 the remaining Trustees have been working ljard to take our important work forward. Tunde Taylor Richard's eldest SO￿ h&s taken over as chair of the Damilola Taylor TrusL Tunde works in financial services and has a young family. He has been a trustee for some time but he is now getting as actively involved as he can. The passing of Mr Taylor means that the TnLStees have needed to look ahead to see how they can best use his legacy to improve the lives of the disadvantaged young people he was so passionate alK)ut. We have been working on that over the summer with generous and very valuable support from EY who help¢d us forniulate our last strategic plan to develop a 5-year plan. We have started work immediately to see how we Gan strengthen the Ix)ard of tsustees. with a view to Jnaking it a more diverse IK)ar(L for example in etl)nicity, gender, age and lived experience so that we can understand and serve disadvantaged young people effectively. Our priority is to recruit more tnLStees followed by a Chief Executive Officer, who &s leader of the executive team will be charged wlth implementing our 5-year strategic plan. Financial review In the reporting period. we received gross income of £40,763 (£45,337 in 2023) and spent £54.980 (£140.56l in 2023) resulting in net expenditure of £14,217 (net expenditure £95,224 in 2023). The net expenditure has reduced Revenue Fund balances from £169,574 at the beginning of the year to £155,357 at financial year ended 31 May 2024. Of th¢ Fund balances £87,563 is Restricted (£102.447 in 2023) and £67,794 Unrestrictedlfree res￿VeS (£67,127 in 2023). Ruerves policy Trustees, reserves policy provides the framework for manawg reserves of the Tnjst. This is to maintain reserves sufficient to cover core operating costs for at least 12 months but not greater than 24 months. Strueture. Governanee and MaDagement Governing document Darnilola Taylor Trust is a company limited by guarantee governed by its Memorandum and Articles of Association (M &A) dated 18 July 2001 . It is registered as a charity with the Charity Commission. Following amendments to the M& A, anyone over the age of 18 can become a member of the Company. Appointment of trustee8 Trustees have been appointed following invitation from the chair of trustees or existing trustee board members. Newly appointed trustees are inducted by the cbair and existing board members. As part of the plans to re-build the charity and its worL a more fonnal approach is now followed for recruiting t￿￿ces. The punx)se of tn￿ recruitment is to ensure that the trustee board has the right skills and capacity to lead the charity effectively. All trustee vacancies are advertised. Interested parties are required to submit a written application and attend an interview. Candidates a&wsed &s meeting the essential and desirable, knowledge and skills requirements set out in the Person Specification are considered for ap￿Intment. All new trustees are properly inducted to understand the Visio￿ goals, key p)licies and Procedures of the Trust before joining the organisation. Organisation The board of trustees currently with three members, administers the charity. The board nOrn￿llY meets monthly for ten months of the financial year, there are sulFcommittees covering programmelproject management which mcet fortnightly OT as needed to effectively direct project implementation. To facilitate effective operatiOD4 the chair of trustees is given delegated authority. within tern￿ of the Trust's Scheme of Delegation approved by the trustees for operational matters. including contracts for procurement of Services or Goods, bids for funding and finance. As we have done in the past few years. our fllwice and administration function will continue to be perforn]ed by our finance service partner. Wherever possible. our programmes will be delivered by youth service practitioners. This organisational structure should keep our overheads costs low. Tnaking us nimble, enabling us to respond faster to changes in demogrdphy. government FM)licy or economic ￿ndItionS as we pursue our charitabje objectives. Risk Management The Trust is committed to establishing an effective risk management framework and culture to provide the tools for managing the charity's affairs going forward. We have identified a number of key risks that the charity is exFK)sed to, given the nature of our activities. We will continue to thoroughly review the key risks (listed below), evaluate which actions we need to take to establish a sound framework for on-going manag¢ment of those risks. Risk Category Governance Examples of rislLq Difficulty in recruiting trustees wtth relevant skills that the charity requires at this moment: conflict of interest Inss of major fvnder. diversity of income sources Public perception and adverse publicity, including reputational issues Breach of trust law. employment law, regulatory requirement of particular activities such as anti- money launderin& brikry and comiption. safeguarding children and young people. Financial risks External risks Compliance with law and regulation The trustees have a risk management Strategy that comprises: an annual review of the principal risks and uncertainties that the charity faces the establishment of policie& systen]s and procedures to mitigate those risks identified in the a[￿Ual review. and the implementation of procedures designed to minimise or manage any potential impact on the charity should those Tisks matcrialise. This work has identified that financial sustainability is the major financial risk for the charity. A key element in the n￿ernent of financial risk is a regular review of available liquid funds to settle debts as they fall due. Trustees only approve commitments to expenditure when they are assured by the finance service partner that there are sufficient funds available in the Trust's coffers to cover the eStinmt￿ expenditure. 10 The trustees a￿ required to prepare financial statements for each financial }iear, which give a true and faiT view of the state olaffairs of th¢ Trust and of ils incoming resources and appIl￿tIO11 of resources, including tlie net income or expenditurq for the )iear. In preparing those finanLial stateinents the trustees are required to Select suitable accounting policies and then apply Ihein consistcnily. Makc judgcmenls and estimates that arc reasonable and prudeiit: State ivhether applicable accounting standards and sialements of recomiiieiided practice l)ave been followed, subjcct to any material departures discloscd aiid explained in the financial statements" and Prepare the financial statcmcnts on a goiiig coiicern basis unless it is inappropriate to presume ihai ihe Trusi will continue in operation. "rhe tnistees are responsible for keeping proper accounting records which disclose witli reasonable accuracy al any lime ihe financial position of the Trust aiid whicli eiiable theiii to cii.gurc that the tinancial statements coinply V*'ith the Compaiiies Aci 2006. -I'he trustces arc also responsiblc for safcguarding ihe assels of ihe Trust and hence for taking reasonable sleps for tl)e prevention and detection of fraud and othcr irreg7ulai'ities. Reporting Accountants Iinpacl Accountanis were re-appoinied as the charitable coinpdny s accountants and have expressed their intcre%l to continiie in that Lilpacity. Declaration 'I'lie coinpany ha8 taken advantage of the small companies. exemption in preparing the report above. The trustees declare ihal they have approved the trustees, report (including dircctors report) above. Sigvned on behalf of the charity's trusteesldirectors Tunde Ta)lor- Chair of Trustets 29 January 2025 Independent Examiner's report to the trustees of Damilola Tai'lor Trust I repnrt on the accounts of the company for the } ear cnded 31 Ma), 2024 which arc set out on pagcs 1.1 to 27. Respective responsibilAties of trustees and examiner 'Thc trustees (who are also the directors of the compan), for Ihe purposes of company la￿) are responsible for the preparntion ot- the accounts. The chai'iti/'s trustees consider Ilyal an aiidit is not required for this year under section 144 ofthe Charitie8 Act 2011 (thc Charilies Act) and tliat an independent examination is nceded. It is my respon5ibilitv to: examine the accounLs under section 145 of thc Ch(irilies ACL lo t"ollow thc proccdures laid dov¥'n in ihe general Directions given by the Charity Commission (undcr scLtion 145{5)(b) ol.the Charilies Acl. and to State whether particular matters have comc to my attention. Basis of ind¢pendtnt examiner's ststement My examination ￿'aS Ciwried oul in accordance with gycncral l)ircctions given by the Charit). Comini,ssion. Ali ¢.xaminution includes a revie￿ of ihe accnunting rccords kept by ilic ¢liarit and a comparisoi) ofr.the accounts presented with thosc r¢Lords. 11 also inLludes coiisideration of arjy i￿uSUal item5 or disclosures in ihe accounts. and sceking explaJialii)ns troin tlie trustce8 c()ncernin&F any such mls donated for on-going use by the charty are recognised as tangible fixed assets and induded in the SOFA as incoming resources when receivable. Grfis in kind for use ty the chanty are induded in the SOFA as income from donations when receivable. Yes No Nla Yes No Nla Yes No Nla Donated sefvices and facilities are induded in the SOFA when received at the value of the grft to the charity provided the value of the grft can be measured reliabl Donated Servi￿ and fao'1rt￿ that are consumed immediately a￿ recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA Yes No Nla Donated seTvlces and facllltles Nla Yes Nla The charity has incurred expenditure on support costs. Su rt costs The value of any voluntary help received is not included in the accounts but is described in the trustees, annual re Nla Volunteer hel Income from interes( royalties and dfvldends This is included in the accounts when receipt is PTobable and the anJ)unt r￿1Vable can be measured ￿lIabl Nla Income from membership subscri tlons Nla Membership subscriptions receNed in the nature of a grft are recognised In Donations and Le acies. Insurance claims are only included in the SOFA when the general income recognFtion criteria are met (5.10 to 5.12 FRS102 SORP) and aTe induded as an rtem of other incoTre in the SOFA. Yes No Nla Settlement of Insurance claims This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulb.ng from revaluing investments to market value at the end of the Yes No Nla Investment galns and losses 18 2.3 EXPENDITURE AND LIABILITIES Liabilities are recognised where it is more likety than not that there is a legal or constructive obl￿atIon commrtts'ng the chanty to pay out resources and the amount of the obligatK)n (an be measured wth reasonable certain Yes Llability reco nition Support costs have been allocated beiween govemance costs and other supporL Governance costs comprise all costs involving public accountabilrty of the chanty and its com liance with r ulab'on and ood ractI￿. Support costs indude functions and have been allocated to activty cost categories on a basis consistent wrth the use of resour￿. e.g., HR costs by the bme spent and other costs by their usa ere the chanty gives a grant with Condrt￿￿S for rts payment being a specffic level of seplice or output to be provided, such grants are only recognised in the SOFA once the ￿1plent of the grant has provided the specffied service or Yes Nla Governance and su rt costs Yes Yes Nla Grants wlth porforniance condltlons Grants payable without perfomiance condltlons Where there are no conditions attaching to the grant that enables the charity to realisti"calty avoid the commrtment a liabilty for the fvll fundin obli ation is r nised. Yes No Nla The charity made no redundancy payrnents durin there ortin riod. Nla Redundanc Where tern￿ and conditions of grant have not been met or uncerlainty exists as to whether the charty can meet the tenns or conditions otherwise within its control the income is not recognised but deferred as a liabilty until it is probable that the tem)S Of conditions imposed can be met Yes No Nla Deferred income 11 Nla The charity has credrtors which are measured at settlement amounts less an trade discounts Credftors A liabilty is measured on recognrtion at its historical cost and then subsequenty measured at the best esb'mate of the amount required to settle the obli ation at the re date Yes No Nla Provlsions for liabilities 19 2.4 ASSErs Tangible fixed assets for use by charity These are capitalised rf they can be used for more than one ear. and cost at least £400 Nla are valued at cost The deprecialion rates and ￿￿thodS used are disclosed in notes to the accounts Debtors (induding trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount adVan￿d by the charity. Subsequenfy, they are measured at the cash or other consideration Yes No Nla Debtors 20 Note 3 Income income funds Total funds Prior ear funds Allin£ Anal sis of income Donations and legacies- Vin Club fund Taisin for DTT 21.363 Other Donations 19.079 19.079 22,179 Totsl Career Pathway Programme for Schools: YLF Charltable actlvltles: 22,867 Total Income from investments: Interest income 321 321 292 Total 321 321 292 Totsi Income other infomiation: All income In the prlor year was Unrestric￿ except for Career Pathway Programme for Schools YLF Grant £22.867 21 Iiiiiiiliii 11111111111 I L. IL'_ II Other information: Analysis of expenditure on charitable activities Total prior year 2023 Activities undertaken di Allin£ Support Total ear or rdmme 17.981 15.729 33.710 Commun" Su ort SESF CPPFS Tradin roduct dev. 7.000 6.123 ofHo 2023 1.958 Career Pathwa . for Schools Total Nots S. Su ortcosts SESF CPPFS Trading product develo ment Communlty Su Day of 2023 Ralsing Funds Totsl Su ort costs rtloned 21.564 Finance & mana ement 13.222 5.147 1.756 147 179 Govemance 525 907 353 99 120 Printin insurance & sundries Communication 251 98 27 33 410 Total su 15.729 23 Note 6. Details of certaln types of expendlture Note 6.1 Fees for examinatlon of the accounts This year Last ear Inde ndent Examinefs fees 700 Last ear Note 7 Debtors and ments Thls 7.1 Anal is of debtors other debtor8 13,000 5.000 Pre ments and accrued income 400 Total Note 8 Cash at bank and in hand Thls year Cash at bank and in hand 121,656 121,656 169.273 169.273 Total Amounts falllng due within one yoar Last ear Note 9 Credltors and accruals Th18 year 9.1 Ana sls of credfrtors Trade creditors 1,782 2,200 3,982 1.800 3.300 5.100 Accruals and deferred Income Total 24 1115111 Iillllli Iiiiiiu 11111111 111 111111111 11 1111 1111 111 Note 11 Transactions wlth trustees and related rties 11.1 Tn￿ remuneration and beneffts None of the trustees have been paid any remuneration or recelved any other beneffts from an em ment with their cha - or a related en rue or False TRUE 11.2 Trustees. ex nses No trustee ex nses have been incurred ruo or False FALSE This eofex nses rnimbujsed ear Subsistence 500 Meth'n costs 173 173 Total No. of tntstees reimburned for exper￿ or who had expenses pald by the charity 27