## **SKYWAY CHARITY** 

## **Known as SkyWay** 

**REPORT AND FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2023 Charity Number 1093239 Company Number 04335024 (ENGLAND AND WALES)** 



1 

## **The Trustees are pleased to present their annual report and audited financial statements for the year ended 31 March 2023.** 

## **Reference and Administrative information:** 

**Charity Name: SkyWay Charity** 

**Charity Registration Number: 1093239** 

**Company Registration Number: 04335024** 

**Registered Office and Operational Address:** 

**Unit 2, 222 Kingsland Road Hackney, London E2 8DG** 

**Members of the Management Committee, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out below.** 


**----- Start of picture text -----**<br>
Management Committee:<br>Lee, Grant  (Chair)<br>Javed, Shahid   (Treasurer)<br>Paul, Nicholas Martin   Resigned 24.05.2023<br>Archard, Nick     Resigned 27.04.2023<br>Castle, Joseph<br>Sokoya, Joshua Oluwatosin<br>Azzopardi-Throssell, Maria Jose<br>Persson, Jonas  Resigned 03.05.2022<br>Dizon, Luna  Appointed 01.09.2022<br>Glasgow, Kianu Alishia   Appointed 25.01.2023<br>Gordon, Paul Richard   Appointed 08.09.2023<br>Fowler, Emma-Jane   Appointed 01.11.2023<br>Secretary<br>Ahmed, Noreen<br>**----- End of picture text -----**<br>


## **Senior Management Team:** 

**Ms N Roast (Chief Executive) Mr D Mussie (Director of Development) Mr M Gayle (Director of Operations)** 

**Auditor: Profile Accountants Ltd, 124 City Road, London, EC1V 2NX Banks:** 

**CAF Bank ltd, 25 Kings Hill Avenue, Kings Hill, West Malling Kent, ME19 4JQ Triodos Bank, Deanery Road, Bristol, BS1 5AS Solicitors: Slaughter and May, One Bunhill Row, London EC1Y 8YY** 



2 

## **Annual Report** 

## **Aims and Purposes** 

Our charity’s purposes as set out in the objects contained in the company’s memorandum of association are to: 

## _**Address the individual needs of disadvantaged young people aged 8-25 years old and their local community in London boroughs; enabling them to achieve personal goals, realise their potential and contribute positively to their community.**_ 

This aim is achieved through youth and community-led programmes, sharing the following objectives: 

- Enable young people to develop communication and social skills, self-confidence and motivation to achieve goals, and the ability to cope with life's 'ups and downs.’ 

- Empower young people to make positive health and lifestyle choices, including increasing their participation in sport and positive recreational activities. 

- Provide opportunities for young people to volunteer and develop transferable employability and citizenship skills, whilst raising their awareness of training and career opportunities. 

- Champion the needs of local young people and encourage partnership working between local community organisations, public sector service providers, policy makers, businesses and young people. 

- Support parents, carers and the community to become actively engaged in, and understand the everyday lives of young people. 

- Develop best practice and share innovation in youth work. 

## **Ensuring our work delivers our aims** 

SkyWay reviews its aims, objectives and activities each year. This review looks at what has been achieved during the previous 12 months and considers the success of our key initiatives. 

The review also helps SkyWay ensure our aims, objectives and activities remain focused on our stated purposes. SkyWay refers to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing aims and objectives, and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. 

## **How do our activities deliver public benefit?** 

Our main activities and those who it seeks to support are described below. All our charitable activities focus on the engagement of disadvantaged young people, their families and their local communities and are undertaken to further our charitable purposes for the public benefit. 

## **Who used and benefited from our services?** 

Our objectives and funding allow the services we provide each year to predominantly focus on disadvantaged young people aged 6 to 25 years, and their families and local communities residing in Hackney, Southwark and other inner-London boroughs. 

**95%** of the young people we engage are BAGM (Black and Global Majority) reflecting the demographic make-up of each area we work in. **75%** of young people we engage are male. Approximately 5% of the young people we engage with have some form of special educational need. 



3 

## **SkyWay’s 20th year** 

SkyWay celebrated its 20th year since registration with the Charity Commission in July 2022. It was a time for reflection and gratitude for all the support we have received over the years to enable us to achieve our goals. To say thank you we held a community event at our Blue Hut youth and community centre, with a BBQ and lots of fun activities for our young people and their families. 







SKYWAY CIIARITY
TIMELINE
2013
2013
2014
2016
Street Leade
project'highly-
commended..
eyond London
2012 Awards
Shortllsted for
Char5ty ol the
Year- Charfty
mm•• Awanls
started. th•
Hickn•y
programmo fjs
most Succ￿*￿1
In London
Nalalbe Roast
becomes CEO
2017
2018
2018
2018
Portn•rshlp wlth
Hackney Qu•$l
to •upport
young pe¢)plg •t
wlsk of oxclujlon
Yo￿¢h So¢l•l
A¢tlon T••kforc•
trlp to T•n•rlf•.
trfp donat•d by
and pald for by
P•ul Gordon
Start worklng at
Ihe Oafflllola
T•ylor C•n
Award•d Prol•ct
Oracl• l•v•l 2
for Skyway
Futur••
2019
2019
2020
2021
Run first hollday
programm• at
Ollvgr
Gddsmtth
Prlmary School
In P•¢khom
Wmkty lood
onlln• •upport
Started th• Blu•
Hut Communlty
Hub programm•
Skyway Mlnl'•
¥•••lon• for 6
y*•r old• •tsrt¥
p•nd•mk. 2Th1+
port•l¥ ¢ont*lnlng
food and •sMnti•l
It•rn• •a¢h w••k
2021
2022
2022
2023
BbteBack
r•cogniM Youth
So¢lal A¢tlon
Tasklor¢• at
DTC as
flagship group
Began
montorlng
programm• at
Thoma•
Falrchlld
Prlmary School
Programm• wlth
tho Vlol•n¢•
Redu¢tlon Un
started
rtn•rnhlp
pro9rnmmo twlth
th• Canadi*n
Imp•rlal Bank of
Commtrc• ICIBCI

5 

## **Overall Achievements** 


## **1. Youth activities** 

Young people aged 8-25 continued to be the main beneficiaries of our services in 2022/23. 

Offering flexible, fun and engaging activities in safe spaces has continued to be the main focus of our work over the last year, allowing us to engage new young people and retain many for a number of years. 

Our efforts have focused on supporting our young people through the longer-term ramifications of covid-19 and the cost of living crisis, which we know has a disproportionate impact on those already living in poverty. 

Our programmes, which aim to help level up the playing field for our young people, were wide ranging, inclusive, enabling, fun and free. In total, 1459 people engaged in our youth programmes. 

SkyWay’s frontline staff team worked in youth clubs, parks, schools, housing estates, football pitches, cafes and streets across Hackney, Southwark and other inner-London boroughs, delivering activities, workshops, training, detached and outreach service and getting out and about on trips to offer young people new opportunities and experiences. 

The following were the key delivery locations 

- The Blue Hut Youth Club in Shoreditch, Hackney (includes sports MUGA) 

- Damilola Taylor Centre in Peckham, Southwark 

- Oliver Goldsmith's Primary School in Camberwell, Southwark 

- Detached and outreach work (working with young people in an area they choose to meet and working towards a shared outcome) on several parks and estates in Hackney & Southwark 

- Online sessions where there was a preference by our young people 

- Park View School in Tottenham in partnership with Jellot Promotions 

- Finsbury Leisure Centre in Islington 

- Britannia Leisure Centre in Shoreditch, Hackney 

- Shoreditch Park football pitches 

- Peckham Rye Park, Southwark in partnership with Southwark AllStars 



Annual Young People Achievements
APRIL22- MAR 23
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7 

## **Successful youth activity 2022/2023** 

**‘Fit & Fed’:** With food poverty on the increase we prioritised our fit and fed sessions during the school holidays, offering sessions in both Hackney and Southwark during the school holidays, our sessions aided physical and mental wellbeing by ensuring young people get a healthy and nutritious meal during the holidays, engaged in organised sports and took part in a variety of experiential activities including trips across London. 

**Safe spaces:** SkyWay staff have worked hard to continue to provide safe spaces this year, whether through a physical space such as at our youth club locations, on our MUGA pitches or maybe the opportunity for our youth workers to provide a safe listening ear through mentoring, one to one chats, or exclusion support, it continues to be important for our young people to both feel physically safe and be listened to and respected. Providing spaces that young people feel safe and trust is fundamental to engaging them with the appropriate support and development. 

Our youth clubs continue to be a core part of our delivery, whether playing sports, cooking, podcasting, working out in the gym, acting or any number or other engagement activities young people are accessing new opportunities and developing new skills. This year skilled youth workers have chatted, challenged and delivered workshops on violence, knife crime, friendships, puberty and countless other topics relevant to the young people. 

The Safe Spaces element of our work continues to be instrumental in keeping young people away from the streets which reduces their likelihood of getting involved in violence whilst also providing them tailored activities to increase their resilience, mental and physical wellbeing. 

**Damilola Taylor Centre ‘DTC’:** Attendance of young people attending DTC has always been high, with the last few years seeing a focus on sports, with great partnership working with SkyWay, it has been able to offer inclusive yet challenging sessions in basketball, football, multisports and gym activities. This last year SkyWay has focused on developing the offer to fully incorporate more weekly non-sport activities, focused work and workshops to the young people that attend. Drama activities, wellbeing sessions and leadership and social action are now all on the table and attendance at the centre on our nights continues to rise. This year we have seen 215 young people attend the centre. 

**Leadership & social action:** Our young people this year have continued to show amazing leadership skills and advocate for themselves and their local communities. 

We appointed 10 young people with an interest in social action and campaigning for change, to become “Community Champions” for the Damilola Taylor Centre. As part of being a Community Champion, our young people have worked together to tackle the social issue of food injustice in the local community. Developing a pitch that they presented to BiteBack, London Youth and officials at an event in London Bridge. An outstanding effort was rewarded with further funding towards their campaign, the young people have used their own experience of poverty and hunger to fight for change. The TAO Group also heard about their outstanding work and invited the group for a free meal at one of their restaurants, Yauatcha in Soho. 

Other young people have been part of the Mayor’s steering group meetings for ‘young Londoners affected by violence’ and local safeguarding steering groups. We were proud to see them use their experiences and voice to affect change for future Londoners. 

Young people have also taken up paid research opportunities with Hackney Council and delivered sports sessions for SkyWay during the holidays. 

**Detached and Outreach:** Detached and outreach sessions have been delivered twice a week within Shoreditch, Hoxton, De Beauvoir and Haggerston wards. Youth workers used the sessions to engage young people, build positive relationships and co-produce positive activities with them.  Sessions also encourage wide ranging discussions and youth workers use their skills to challenge and support 



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young people through topics such as vaccine reluctance, work experience, volunteering, music, homework, personal relationships and many more. 

Youth workers have also been on hand to provide immediate support if an incident has occurred or tensions in an area are rising. Outreach is also used to encourage young people to attend SkyWay centres and activities on a regular basis. 

**Special Educational Needs:** SkyWay, like many youth organisations, has noted more young people presenting with additional needs in comparison to pre-pandemic. Needs can be vast including sensory, communication and language, cognition and learning and social emotional and mental health. This year we have focused on adapting our provision to ensure that we are inclusive and that staff have the skills, knowledge and resources to meet the needs of the young people effectively. We have worked closely with families, professionals and the young people themselves to develop our offer. This year we also forged a partnership with ELLAT learning, who travel with a group of young people to the Blue Hut on a weekly basis to take part in activities such as cooking, gym and personal development. 

**Football and sports:** Young people have engaged in a variety of sporting activities throughout the year, in youth clubs, on MUGA’s, in sports halls, estates and parks. Sports are an excellent tool for engaging young people, developing soft skills and improving physical and emotional health. We also use sports to break down barriers between groups. Through engaging young people in different areas, the young people branch out and make new friends and acquaintances. Highlights of our sports programmes this year have included; new sessions in Tottenham and Islington, a fitness programme that targeted young people that are highly affiliated gang members and supporting an exchange programme for young people from Switzerland and London with Jellot Promotions at Hackney Marshes. 

## **2. Family & community support** 

Since 2020 we have been offering family and community support. Despite funding obstacles, SkyWay is still committed to supporting the families and local communities of our young people. This year with the cost of living crisis affecting our communities this support has been crucial. 

This project has allowed us to work with families on their terms to address different issues they are facing, it has allowed us to build trust and ask uncomfortable questions, challenge preconceived ideas appropriately, offer support where needed and run programmes to improve mental and physical wellbeing, offer food and warmth through our warm hub and promote healthy living through our vaccine rollouts and community health advice. 

Crucially, working with families and local communities continues to support us in developing our understanding of our young people, enabling us to strengthen their support networks and empower them towards their own personal dreams. 

Our front-line staff have worked in both Hackney and Southwark to deliver our family and community programmes, the following were our key delivery locations: 

- The Blue Hut Youth Club in Shoreditch, Hackney (includes sports MUGA) 

- Damilola Taylor Centre in Peckham, Southwark 

- Oliver Goldsmith's Primary School in Camberwell, Southwark 

- Befriending work in Hoxton and Haggerston 

- Detached sessions:(Detached and outreach session in Hoxton, Murray Grove, Phillip street, Haggerston, Old Street and Laburnum street) 



Annual Community Achievements
APRIL22- MAR 23
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10 

## **Successful Family and Community activities in 2022/2023** 

**Community hang out:** The Blue Hut was open for our community every Tuesday, Wednesday and Thursday from 10:30am until 2pm in 2023. Community members were able to socialise, have brunch or refreshments, take donated clothes and toys or join in on one of our surgeries. Staff were on hand to support any concerns and give advice and support on health, schools, education, exclusion, and parenting. 

**Physical wellbeing** : This year to support our community’s physical health we have started a brisk walking club in and around the Shoreditch Park area, other members attended gym sessions at the Blue Hut, both allowed participants to gain physical exercise, boost energy and reduce stress. 

**Mental wellbeing:** Our wellbeing programmes this year included therapeutic qualities of clay art therapy, this programme in partnership with Better Health and Hackney Quest uses the medium of clay to facilitate a supportive space for conversation to take place. Participants would focus on simple clay making techniques to make and decorate pieces such as bowls, animals or soap dishes. We aimed this session towards our parents to enjoy learning a new skill while working on their selfdevelopment, through organic conversation including topics such as stress, motherhood and race. 12 single mothers took part in the programme. 

Also delivered were our Shine your light” group coaching for Parent's - (delivered by a professional life coach alongside SkyWay) these group coaching sessions cover living with different issues they face such as food poverty, living with Covid, advocacy relating to exclusion of their children and for those who needed a boost in confidence and help improve well-being. Mindfulness meditation techniques are used to reduce stress and anxiety and breathing techniques to help participants relax. 

**Information champions;** With a change in prevalence and shift in public perception SkyWay continued to offer advice and guidance on Covid-19 and the vaccination, including holding a vaccination event and providing detached and outreach to discuss long Covid and where to get support. SkyWay has also continued to hand out lateral flow tests throughout the year. Due to our local links we have also undertaken research for public health around the perceptions of POLIO vaccinations in different communities and also supported people on how to live with Covid. 

**Celebrating community;** Although holidays and religious festivals such as Christmas, Ramadan and school holidays can be exciting and special for children, often they can lead to additional stress for families on low income and with other considerations. Consequently, we provide extra support for families during these times.  This year we ran our annual Christmas grotto with all the children meeting Santa and receiving a small gift. Through donations from Sedulo and individual fundraising we were able to give 15 children a Christmas sack full of presents. Additionally, we handed out 5 £30 vouchers for Christmas and end of year help to our families. Staff also put on a community Iftar event for local families to come together and break their fast sharing food and words of gratitude. 

**Reducing isolation through befriending** ; We continued our befriending programme to help prevent loneliness and isolation for our over 50’s located in Hoxton and Haggerston. who are elderly, have serious health issues, on their own or socially isolated. SkyWay volunteers work closely with staff on this project to help make a difference by visiting these members, engaging in conversation, finding out if there is any additional support we can offer and going for walks/taking members for coffee etc. For some, their befrienders are the only people they see during the week who are not paid to visit them, and who are not coming simply to fulfil a physical care. 

**Community Food;** Food poverty continues to be a concern for many in our community, this year is particularly hard. Unfortunately, we were unable to consistently continue our community care package programme in 2022/23 on such a large scale due to funding restrictions, however we frequently shared donations of food, clothes and toiletries with our community, including 60 take and make food boxes provided by London Youth and through our fit and fed sessions. 



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## **3. Organisational capacity building, partnerships and volunteering** 

**Partnerships -** SkyWay works in collaboration with a number of partners across all our services to further our objectives. 

To further the aim of  reducing violence and gang activity in Hoxton, SkyWay continued to work as part of the contextual safeguarding model in the area - this model, bringing together health, education, police, the local authority, the voluntary and community sector and the Gangs Unit as a working body, allows us to stay up to date with local intelligence and issues and coordinate our planning and actions in collaboration with all the partners which results in a monthly Context in Need Plan. 

We continue to work in partnership with Hackney Quest, a local charity that specialises in working with young people and their families, through our National Lottery Community Fund funding. We continue to share learning and best practice with each other, the joint funding has also allowed us to start delivering exclusion work, supporting young people who are at risk of exclusion and their families. 

As an extension of this work SkyWay and a consortium of Hackney organisations have joined together to create the REP partnership, a collaboration of local community and voluntary sector organisations who are concerned with the number of young people being excluded from school and the strict behavioural guidelines many of the schools in the borough have. SkyWay will be supporting the partnership to secure funding to allow us to work together to offer support including advocacy & wellbeing support to young people and parents, legal advice and expert youth work experience, research and campaigning and influence, to enable us to support all young people and families experiencing challenges to successfully access education. 

Other partners support us to further our reach, for example this year we have worked with a number of other providers to support young people through sport or delivering activities in our centres and across London. Often these organisations are very small community groups, we have worked closely with many to support their development; financially, in safeguarding and strategically. 

**Capacity building;** As part of our Violence Reduction Unit contract through the Mayor of London we took part in a range of capacity building sessions which included fundraising, governance, HR and engaged workforce. 

**Volunteering** - This year we were immensely grateful to those who volunteered with us, either through supporting our youth work, community work, during our events and to those who have used their skills and expertise to enhance our fundraising efforts. We offer up a very big “thank you” to all our volunteers this year. 



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## **Financial review** 

The total income achieved by SkyWay Charity in 2022/23 was £616,325 which was derived from a variety of sources. The charity ended the financial year with a deficit of £5,518. The deficit derives from a challenging financial year with many charities struggling due to the cost of living crisis and as such it was agreed that using this level of our reserves to continue to meet the needs of the young people and community was acceptable. For this reason, the management team is happy with the financial performance achieved during the year. 

Much of this financial year was spent targeting a wide range of funders from statutory sources, trusts, foundations and other grant givers. This year we were also successful in becoming a charity partner of CIBC, helping us to increase our income through donations by over 100% on last year. 

Overall our income has been on decline since 20/21, however it should be noted that it is still at a higher level than pre-pandemic. Due to many funders taking time to re-establish their strategies post pandemic in the UK, this year funding throughout the year was slow, added to the fact that donations to charities have dramatically fallen over the last year it means that statutory and grant givers, SkyWay’s main funding sources, have more competition than ever. That SkyWay is still doing well during these times is a testament to the versatility & depth of the charity. 

## **Reserves policy** 

The charity's Management Committee reviews its requirements for reserves on a quarterly basis, while taking into consideration all major risks that could potentially affect the organisation. SkyWay Charity continues with its policy of investing surplus cash into a Charities Aid Foundation (CAF) account and has also maintained its savings account at Triodos bank - an ethical banking organisation which offers a good rate of interest. 

For the year ahead, and because of the ongoing uncertainty over levels of funding, the Trustee Board feels it is prudent to maintain unrestricted reserves of no less than three months and no more than ten months annual expenditure. 

As with a lot of small charities, SkyWay Charity has been impacted by the cost of living, inclusive of local authorities cutting budgets to youth services and the increased demand on grant funding organisations. So, having this level of reserves means we can ensure we're able to continue delivering our existing activities and focus on new areas of development while maintaining the longterm sustainability of the charity. 

The budgeted expenditure for the financial year 2023-24 is £636,519. The current level of unrestricted reserves as of 31 March 2023 was £393,412 which represents just over 7 months operating expenditure. It is felt this is a prudent level of reserves in an uncertain economic environment and which will allow us to sustain the Charity if there continues to be a drop in income over the current year. 

The Management Committee is confident that this estimated annual expenditure will enable all existing activities to continue, alongside additional focus on the development of new activities to enhance the activity range offered and contribute to the long-term sustainability of the organisation. 



13 

## **Plans for the future** 

We continue to work at developing our alternative income streams. This year the CEO worked with two businesses mentors to explore the alternative income streams of fundraising, through this the decision was made to focus on corporate fundraising which began in 2022 and will continue into 2023, initially the focus is utilising the teams personal resources to develop relationships with corporate organisations, we will then look to make connections with corporate organisations through corporate football tournaments, we hope to trial this in the Autumn of 2023. 

Although we have offered informal mentoring for a number of years in 23/24 we will look to firm up this offer, we will work towards the London City Hall Quality Mentoring Framework, having received funding for a mentoring and sports programme, we plan to work in partnership with Thomas Fairchild School to support the year 6’s successfully transition into their new secondary schools. 

The cost of living crisis continues to impact heavily on our community, we will continue to work with them to co-produce activities that will benefit them most during this difficult time. 

We will continue to work closely with the REP partnership to seek funding and support its growth to further support the young people in the Hackney borough at risk of exclusion from school. 

## **Offer of thanks** 

SkyWay offers enormous thanks to all the funders, fundraisers, organisations and donors who have supported us over the last year. We are grateful to those who have donated their time and their expertise to support us and our communities and very thankful to all of our many partners who have worked with us to further our mission. 



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## **Governance** 

## **Governing Document** 

The organisation is a charitable company limited by guarantee, incorporated on 5 December 2001 and registered as a charity on 31 July 2002. The company was established under a Memorandum of Association that established objects 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 of £10. 

## **Recruitment and appointment of new trustees** 

The Directors of the company are also charity trustees for the purposes of charity law, and under the company's Articles are known as Members of the Trustee Board.  New trustees are recruited through advertisements, recommendations or by people contacting SkyWay looking to volunteer, are then interviewed and, if deemed suitable, proposed and elected to the Trustee Board. This year we had 1 Trustees resign, for personal reasons and recruited 2 new Trustees. One of our new Trustee, a younger person herself, comes from Hoxton and used our services when she was younger. She also runs her own community organisation, supporting women. We are very pleased to have her on the board. 

All members of the Trustee Board give their time voluntarily and receive no benefits from the charity. We continue to recruit Trustees on their skills and knowledge and seek to ensure that our board is inclusive and reflects the community that it serves. 

## **Induction and training of new trustees** 

SkyWay runs annual away days for new and existing trustees to induct and update them on current activities and agree future plans. New trustees complete an induction procedure and are also offered a 'mentor' from the existing trustees to provide support and guidance, they also complete training such as NCVO Trustee induction and Safeguarding training and are offered additional training depending on their needs. Trustees are given the Charity Commission Guides about the responsibilities of being a trustee. 

## **Risk management** 

Risk management is addressed through the trustee meetings: both the CEO's report and the finance report identifies risk areas. This year the trustees looked at the four greatest risks to the organisation and how to protect the organisation against these. SkyWay Charity works to an annual plan which identifies the key areas for development for the year and keeps the organisation on track. There is a high level of investment in staff training and development to ensure SkyWay Charity can meet all the needs and requirements in the field of youth and community work. The CEO is supported by two Directors, who make up the Senior Management Team. 

The main risk for the charity for 2023/24 is financial viability.  Despite having healthy reserves, we have entered into 2023/24 with a low income, which although similar to the year before demonstrates the short-term nature of funding at present. Trustees are confident that income will increase to match that or similar to the year prior but acknowledge that we have to keep a close eye on funding opportunities and our financial income and expenditure. 

## **The 2 other main risks are:** 

- Missed or inappropriately handled safeguarding and or health and safety incident/s. 

- Cost of living crisis and its effect on our young people and communities. 



15 

## **Structure, Governance and Management** 

Since March 2015, the role of Secretary to the trustees has been undertaken by the Finance and Office Manager at SkyWay Charity. 

Day-to-day responsibility for the provision of services rests with the CEO and Directors, who are responsible for ensuring that we deliver the services specified and key performance indicators are met. They are also responsible for the financial monitoring, budgeting and fundraising for the charity, supervision of key staff and ensuring that the team continue to develop their skills and working practices in line with good practice. 

The Directors are responsible for the day-to-day running of the contracts and programme delivery. 

The trustees and staff meet annually to consider the strategic developments and direction of SkyWay Charity. At present the board has 9 members from a variety of professional backgrounds relevant to the work of the charity. The board is in the process of recruiting 2 new board members. SkyWay has focused on diversity as well as skills when recruiting to the Trustee board to ensure we are reflective of the people we work with, 63% of the Trustees are now Black and Global Majority and 2 are under 25 years of age. 

Responsibilities for management and development, in line with the organisation's vision and objectives continue to be delegated to the CEO, who reports to the trustees at meetings every 8 weeks, providing regular written reports on the financial position and future funding, performance, strategic opportunities, governance and staffing matters. 

Due to the nature of the organisation's work, SkyWay Charity engages young people in sessional employment, mainly in sports and youth work, trains young people to be peer educators and also engages and supports young people in volunteering roles. SkyWay Charity also supports young people to become peer mentors to actively work with other young people to directly impact their own skills and knowledge. 

SkyWay Charity is guided by both local and national policy. At a local level SkyWay Charity is a member of London Youth, UK Youth, NCVO and Hackney Council for Voluntary Services (Hackney CVS). The Directors are part of the Safer Neighbourhood Board, REP (Reducing exclusions partnership), Community resilience partnership, Safer Young Hackney Network and Safer Neighbourhood Board, Mayors sport board, 16+ Network meetings, Hackney Food Network, Children and Families forum meetings and we also participate in the Hackney Gangs meetings. 



16 

## **Statement of Management Committee’s Responsibilities** 

The Trustees, who are also the company directors of SkyWay Charity for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. 

In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Disclosure of information to auditor 

Each member of the Management Committee confirms that to the best of his/her knowledge there is no information relevant to the audit of which the auditor is unaware. Each member of the Management Committee also confirms that he/she has taken all necessary steps to ensure that he/she is aware of all relevant audit information and that this information has been communicated to the auditor. 

08/12/2023 **Approved by the Management Committee on ……………………………………. and signed on its behalf by:** 

**Grant Lee Chair** 



## **SKYWAY CHARITY** 

## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023** 


**----- Start of picture text -----**<br>
2023 2022<br>Unrestricted Restricted Total Total<br>funds funds funds funds<br>Notes £ £ £ £<br>Income from:<br>Donations 2 79,664   - 79,664 30,381<br>Charitable activities 4   - 500,613 500,613 594,665<br>Interest receivable 1,475   - 1,475 61<br>Other income 3 33,573 1,000 34,573 42,686<br>Total income 114,712 501,613 616,325 667,793<br>Expenditure on:<br>Raising funds 5 1,614   - 1,614 681<br>Charitable activities 6 6,600 613,629 620,229 660,610<br>Total expenditure 8,214 613,629 621,843 661,291<br>Net income/(expenditure) 106,498 (112,016) (5,518) 6,502<br>Transfers between funds (91,691) 91,691   -   -<br>Net movement in funds 14,807 (20,325) (5,518) 6,502<br>Total funds brought forward 378,605 20,325 398,930 392,428<br>Total funds carried forward 393,412  - 393,412 398,930<br>**----- End of picture text -----**<br>


## **CONTINUING OPERATIONS** 

All incoming resources and resources expended arise from continuing activities. 

The statement of financial activities includes all gains and losses recognised during the year. 

The statement of financial activites also complies with the requirements for an income and expenditure account under the Companies Act 2006. 

The notes form part of these financial statements 

17 



## **SKYWAY CHARITY** 

## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023** 


**----- Start of picture text -----**<br>
Prior year figures 2022<br>Unrestricted Restricted Total<br>funds funds funds<br>Notes £ £ £<br>Income from:<br>Donations 2 30,381   - 30,381<br>Charitable activities 4   - 594,665 594,665<br>Interest receivable 61   - 61<br>Other income 3 18,171 24,515 42,686<br>Total income 48,613 619,180 667,793<br>Expenditure on:<br>Raising funds 5 681   - 681<br>Charitable activities 6 4,164 656,446 660,610<br>Total expenditure 4,845 656,446 661,291<br>Net income/(expenditure) 43,768 (37,266) 6,502<br>Transfers between funds (14,064) 14,064   -<br>Net movement in funds 29,704 (23,202) 6,502<br>Total funds brought forward 348,901 43,527 392,428<br>Total funds carried forward 378,605 20,325 398,930<br>**----- End of picture text -----**<br>


## **CONTINUING OPERATIONS** 

All incoming resources and resources expended arise from continuing activities. 

The statement of financial activites also complies with the requirements for an income and expenditure account under the Companies Act 2006. 

The notes form part of these financial statements 

18 



## **SKYWAY CHARITY** 

## **BALANCE SHEET AT 31 MARCH 2023** 

## **COMPANY NUMBER: 04335024** 

|Unrestricted<br>funds<br>Notes<br>£<br>**Fixed assets**<br>Tangible assets<br>12<br>7,908<br>**Current assets**<br>Debtors<br>13<br>26,109<br>Cash at bank and in hand<br>365,995<br>392,104<br>**Liabilities**<br>Creditors: Amounts falling due within one year<br>14<br>(6,600)<br>**Net current assets**<br>385,504<br>**Total assets less current liabilities**<br>393,412<br>**The funds of the Charity**<br>Unrestricted funds:<br>General fund<br>393,412<br>Restricted funds:<br>17<br>-<br>**Total Charity funds**<br>393,412|Restricted<br>funds<br>£<br>-<br>-<br>17,977<br>17,977<br>(17,977)<br>-<br>-<br>-<br>-<br>-|2023<br>Total<br>funds<br>£<br>7,908<br>26,109<br>383,972<br>410,081<br>(24,577)<br>385,504<br>393,412<br>393,412<br>-<br>393,412|Unrestricted<br>funds<br>£<br>10,479<br>41,379<br>330,911<br>372,290<br>(4,164)<br>368,126<br>378,605<br>378,605<br>-<br>378,605|Restricted<br>funds<br>£<br>-<br>40,648<br>1,286<br>41,934<br>(21,610)<br>20,325<br>20,325<br>-<br>20,325<br>20,325|2022<br>Total<br>funds<br>£<br>10,479<br>82,027<br>332,197<br>414,225<br>(25,774)<br>388,451<br>398,930<br>378,605<br>20,325<br>398,930|
|---|---|---|---|---|---|



08/12/2023 The financial statements were approved by the Board of Trustees on ………………………..   and were signed on its behalf by 

## **Grant Lee, Chairman** 

The notes form part of these financial statements 

19 



## **SKYWAY CHARITY** 

## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023** 


**----- Start of picture text -----**<br>
2023 2022<br>Total Total<br>funds funds<br>Notes £ £<br>Cash flows from operating activities:<br>Net cash (used in)/provided by operating activities 18 52,349 28,412<br>Cash flows from investing activities:<br>Interest income 1,475 61<br>Purchase of property, plant and equipment (2,050) (3,686)<br>Net cash provided by/(used in) investing activities (575) (3,625)<br>Change in cash and cash equivalents in the reporting period 51,775 24,787<br>Cash and cash equivalents at the beginning of the reporting period 332,197 307,410<br>Cash and cash equivalents at the end of the reporting period 383,972 332,197<br>**----- End of picture text -----**<br>


The notes form part of these financial statements 

20 



## **SKYWAY CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **Charity Information** 

SkyWay Charity is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 2, 222 Kingsland Road, Hackney, London, E2 8DG. 

## **1. ACCOUNTING POLICIES** 

## **Accounting convention** 

The financial statements have been prepared under the Companies Act 2006, and the requirements of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to 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). 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the  Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. 

The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated. 

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. 

## **Preparation of the financial statements on a going concern basis** 

The Charity has a healthy level of cash and net assets and the Trustees are confident that funding at a similar level to previous years will be forthcoming, even though not all amounts have been secured at this stage. If there were to be a reduction of income, since much of the Charity’s expenditure is discretionary, this could be reduced, without seriously curtailing the charity’s activities. 

Having considered these risks and subsequent mitigations, the Trustees reasonably expect the Charity to have adequate resources to continue operating for the foreseeable future. Therefore, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 

## **Income recognition** 

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. 

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. 

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. 

No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report. 

Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure. 

Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset. 

Income from trading activities includes income earned from trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. 

The charity receives grants relating to various projects where outcomes and spend are pre-agreed and fall under the charity’s objects. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. 

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established. 

Other income includes the conversion of endowment funds into income which arises when capital funds are released to an income fund from expendable endowments or when a charity has authority to adopt a total return approach to its permanent endowment fund.  It also includes other income such as gains on disposals of tangible fixed assets. 

21 



## **SKYWAY CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **1. ACCOUNTING POLICIES (continued)** 

## **Resources expended and irrecoverable VAT** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: 

- Costs of raising funds comprise the costs of attracting voluntary income and the costs of fundraising. 

- Expenditure on charitable activities includes the costs of the delivery of its activities and services for its beneficiaries. 

## **Allocations and apportionment of costs** 

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. All support costs are allocated to the one charitable activity youth work projects. 

## **Tangible fixed assets** 

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. 

Depreciation is provided at the following annual rates on a straight-line basis in order to write off each asset over its estimated useful life: 

Office and training equipment -33% on cost Fixtures and fittings -20% on cost All assets costing more than £500 are capitalised. 

## **Impairment** 

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date.  If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount.  Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustess. Restricted funds are grants which the granter has specified are to be solely used for particular areas of the Charity’s work or for specific projects being undertaken by the Charity. 

## **Group financial statements** 

The Trustees are of the opinion that the results and net assets of the subsidiary, Enterprise Skyway CIC, are not material to the charity and consolidated financial statements have therefore not been prepared. 

22 



## **SKYWAY CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **1. ACCOUNTING POLICIES  (continued)** 

## **Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and 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. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered and provision for bad and doubtful debts. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Creditors and provisions** 

Creditors and provisions are recognised where 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **Financial instruments** 

The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments. 

The Charity only has financial assets and financial 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 with the exception of financing items which are subsequently measured at amortised cost using the effective interest method. 

## **Critical accounting estimates and judgements** 

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. 

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reveiwed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

The Trustees do not believe there to be judgements or estimates that would be considered critical to the financial statements. 

## **Government grants** 

Government grants are accounted for under the accrual model and are recognised at the fair value of the amount received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. 

Amounts received or receivable are recognised in the statement of financial activities over the same period as the costs to which they relate. 

23 



## **SKYWAY CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **2. DONATION INCOME** 

|Donations<br>Donations in 2023 and 2022 were unrestricted.<br>**3.**<br>**OTHER INCOME**<br>Services provided<br>Facility hire<br>Miscellaneous Income<br>Services provided<br>Facility hire<br>HMRC Job rentention Scheme|2023<br>£<br>79,664<br>79,664<br>Unrestricted<br>funds<br>2023<br>£<br>4,647<br>24,726<br>4,200<br>33,573<br>Unrestricted<br>funds<br>2022<br>£<br>603<br>17,568<br>-<br>18,171|2022<br>£<br>30,381<br>30,381<br>Restricted<br>funds<br>2023<br>£<br>1,000<br>-<br>-<br>1,000<br>Restricted<br>funds<br>2022<br>£<br>24,051<br>-<br>464<br>24,515|Total<br>2023<br>5,647<br>24,726<br>4,200<br>34,573<br>Total<br>2022<br>24,654<br>17,568<br>464<br>42,686|
|---|---|---|---|




24 



## **SKYWAY CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

|**4.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>2023<br>£<br>**Activity**<br>Other grants and contractsYouth Work projects<br>500,613<br>500,613<br>Income from Charitable activities in 2023 and 2022 were restricted.<br>**Details of grants received are as follows:**<br>2023<br>£<br>National Lottery Community Fund (Y, H)<br>99,980<br>Henry Smith Improving Lives (Y)<br>60,000<br>Violence Reduction Unit’s Stronger Future Programme (Y, H, E)<br>50,433<br>Henry Smith Covid-19 Long-term support (Y)<br>40,000<br>Vangaurd (Y)<br>35,000<br>Southwark PFYPF (Y, S)<br>30,000<br>Garfield Weston (Y, H)<br>30,000<br>Future Ready Fund (Y, S, H)<br>25,000<br>Youth Justice Sport Fund (S, E)<br>20,000<br>Hackney Community Infrastructre (H)<br>18,000<br>Hackney Holiday Activities & Food Program (Y, H)<br>14370<br>Hackney Giving Living with Covid (H)<br>10,730<br>Children in Need - Outreach (Y)<br>10500<br>Jack Petchey Reignite Grants (Y)<br>9,900<br>Lambeth and Southwark - Food and Fun (Y, S)<br>9985<br>Sport England (S, E)<br>8,600<br>UK Youth Community Champions (Y, H)<br>5,000<br>TFL Walking and Cycling Grants (H)<br>5,000<br>Jack Petchey Foundation - Youth Achievement Awards (Y)<br>4615<br>Hackney Warm Spaces (H)<br>3,500<br>Street Games (S, E)<br>2,500<br>Hackney Emergency Food Funding (H)<br>1,500<br>London Youth Young Creators (Y)<br>1,400<br>Arnold Clark Community Fund (H)<br>1,000<br>The Neighbourly Fund (Y)<br>1,000<br>Tesco Groundworks (H)<br>1,000<br>London Youth Getting Active Movement (S)<br>1,000<br>Sported x Barclays (S)<br>500<br>London Community Foundation Save London Lives Showcase Bursary<br>100<br>Impact Partnerships Fund (S)<br>-<br>Children in Need’s COVID-19 Next Steps Programme (Y)<br>-<br>London Community Foundation Wave 5 Covid 19 (Y)<br>-<br>The Julia and Hans Trust (Y)<br>-<br>Berkeley Foundation (Y/H)<br>-<br>Hackney Giving Equitable Vaccination Fund Uptake - Round 2 (H)<br>-<br>Youth Endowment Covid-19 Fund (Y)<br>-<br>Awards for All Community Fund (S)<br>-<br>London Borough of Hackney Increasing Universal COVID-19 Vaccinatio<br>-<br>Hackney Giving Covid-19 Information Grants (H)<br>-<br>Young Londoners Fund (Y, S, H, E)<br>-<br>West Hackney Parochial (E)<br>-<br>Woodroffe Benton (H)<br>-<br>Virgin Media O2 Together Fund (H)<br>-<br>Children in Need Money Heroes Programme (Y)<br>-<br>London Youth October Half Term Funding (Y)<br>-<br>500,613<br>|2022<br>£<br>594,665<br>594,665<br>2022<br>£<br>99,980<br>60,000<br>75,000<br>26,969<br>20,900<br>10,000<br>9,900<br>5,670<br>3,750<br>1,900<br>60,000<br>44,800<br>44,769<br>43,650<br>19,967<br>17,000<br>13,160<br>10,000<br>7,500<br>7,500<br>4,500<br>3,250<br>2,000<br>1,000<br>1,000<br>500<br>594,665|
|---|---|



Purposes of restricted funds: 


(Y) Youth Work Programme - Outreach and detached delivered in estates and youth club based activites 

(S) Youth Sport Progammes - Sports sessions delivered in schools, estates and youth clubs 

(H) Young Health & Lifestyle Programmes - Programmes that address the personal development of young people and the local community such as workshops, mental and physical wellbeing 

(E) Youth Enterprise & Learning - Programmes targetting young people in developing their career & opportunites 

25 



## **SKYWAY CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **5. EXPENDITURE ON RAISING FUNDS** 

|Support cost re marketing & advertising<br>Expenditure on raising funds in 2023 and 2022 were unrestricted.<br>**6.**<br>**EXPENDITURE ON CHARITABLE ACTIVITIES**<br>Youth Work projects<br>Direct costs - personnel costs<br>Direct costs - project related<br>Support costs<br>Governance<br>**7.**<br>**SUPPORT COSTS**<br>Support cost is comprised of:<br>Advertising & marketing<br>Premisies<br>General Office<br>Depreciation<br>**8.**<br>**EXPENDITURE ON GOVERNANCE**<br>Auditors' remuneration<br>Expenditure on governance in 2022 and 2021 were unrestricted.|2023<br>£<br>1,614<br>1,614<br>Unrestricted<br>funds<br>2023<br>£<br>-<br>-<br>-<br>6,600<br>6,600<br>Unrestricted<br>funds<br>2023<br>£<br>1,614<br>-<br>-<br>-<br>1,614<br>2023<br>£<br>6,600<br>6,600|2022<br>£<br>681<br>681<br>Restricted<br>funds<br>2023<br>£<br>434,508<br>84,468<br>94,653<br>-<br>613,629<br>Restricted<br>funds<br>2023<br>£<br>-<br>59,559<br>28,860<br>4,620<br>93,039<br>2022<br>£<br>4,164<br>4,164|Total<br>2023<br>£<br>434,508<br>84,468<br>94,653<br>6,600<br>620,229<br>Total<br>2023<br>£<br>1,614<br>59,559<br>28,860<br>4,620<br>94,653|Unrestricted<br>funds<br>2022<br>£<br>-<br>-<br>-<br>4,164<br>4,164<br>Unrestricted<br>funds<br>2022<br>£<br>681<br>-<br>-<br>-<br>681|Restricted<br>funds<br>2022<br>£<br>429,339<br>136,995<br>90,112<br>-<br>656,446<br>Restricted<br>funds<br>2022<br>£<br>-<br>55,592<br>30,016<br>3,823<br>89,431||
|---|---|---|---|---|---|---|
||||||||
|||||||Total<br>2022<br>£<br>429,339<br>136,995<br>90,112<br>4,164<br>660,610<br>Total<br>2022<br>£<br>681<br>55,592<br>30,016<br>3,823<br>90,112|



## **9. NET INCOMING/(OUTGOING) RESOURCES** 

Net resources are stated after charging: 

|Auditors' remuneration<br>Depreciation - owned assets<br>Operating leases - rent|2023<br>£<br>6,600<br>4,620<br>34,800|2022<br>£<br>4,164<br>3,823<br>34,800|
|---|---|---|



**10. TRUSTEES' REMUNERATION AND BENEFITS** 

No trustees received remuneration or other benefits in either of the years to 31 March 2023 or 31 March 2022. 

## **11. STAFF COSTS** 

|2023<br>£<br>Wages and salaries<br>385,125<br>Pension costs<br>7,532<br>Social security costs<br>33,747<br>426,404<br>The average monthly number of employees during the year was as follows:<br>2023<br>Number of staff<br>17|2022<br>£<br>371,160<br>7,226<br>35,265<br>413,651<br>2022<br>15|
|---|---|



1 employee earned above £60,000 in 2023 (2022: 0). 

The key management personnel of the Charity comprise the senior management team as detailed on page 2 of the trustees’ annual report. The total amounts of employee emoluments received by the senior management team were £163,596 (2022: £139,506). 

26 



## **SKYWAY CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **12. TANGIBLE FIXED ASSETS** 

|**COST**<br>At 1 April 2022<br>Additions<br>Disposal<br>At 31 March 2023<br>**DEPRECIATION**<br>At 1 April 2022<br>Charge for year<br>Disposal<br>At 31 March 2023<br>**NET BOOK VALUE**<br>At 31 March 2023<br>At 31 March 2022<br>**13.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Prepayments and accrued income<br>Other debtors<br>**14.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Social security and other taxes<br>Accruals<br>Deferred income|Office and<br>computer<br>equipment<br>£<br>65,235<br>2,050<br>67,285<br>60,693<br>2,304<br>-<br>62,997<br>4,288<br>4,542|Fixtures and<br>fittings<br>£<br>55,038<br>-<br>-<br>55,038<br>49,101<br>2,317<br>-<br>51,418<br>3,620<br>5,937<br>2023<br>£<br>9,255<br>13,846<br>3,009<br>26,109<br>2023<br>£<br>3,594<br>9,946<br>9,276<br>1,760<br>24,577|Total<br>£<br>120,273<br>2,050<br>-<br>122,323<br>109,794<br>4,621<br>-<br>114,415<br>7,908<br>10,479<br>2022<br>£<br>66,505<br>12,514<br>3,009<br>82,027<br>2022<br>£<br>4,776<br>11,594<br>7,699<br>1,705<br>25,774|
|---|---|---|---|



## **15. FINANCIAL COMMITMENTS** 

At 31 March 2023, the company was committed to making the total following payments under non-cancellable operating leases: 

||Land and buildings|Land and buildings|
|---|---|---|
||£|£|
|Operating leases which expire:|2023|2022|
|Within one year|34,800|34,800|
|Greater than one year less than five years|34,800|69,600|



## **16. SUBSIDIARY UNDERTAKING** 

Enterprise SkyWay CIC, community interest company, is a wholly-owned subsidary of SkyWay Charity. 

The purpose of the CIC is to empower disadvantaged young people in London to improve their quality of life in an entrepreneurial fashion. Enterprise Skyway CIC does not trade and is therefore dormant. No amount was owed by the subsidary to the parent at year end (2022: 0). 

27 



## **SKYWAY CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 


**----- Start of picture text -----**<br>
17. MOVEMENT IN FUNDS<br>Incoming Resources Transfer<br>At 1.4.22 resources expended between funds At 31.3.23<br>£ £ £ £ £<br>Unrestricted funds<br>General fund 378,605 114,712 (8,214) (91,691) 393,412<br>Restricted funds<br>Youth Work Programme (Outreach and Detached)   - 293,436 (352,758) 59,322   -<br>Youth Sports Programmes 15,955 59,006 (75,815) 854   -<br>Young Health & Lifestyle Programmes   - 137,768 (168,955) 31,187   -<br>Youth Enterprise & Learning 4,370 11,403 (16,101) 328   -<br>20,325 501,613 (613,629) 91,691   -<br>TOTAL FUNDS 398,930 616,325 (621,843)  - 393,412<br>**----- End of picture text -----**<br>


Restricted funds all relate to activities carried out within the charity. 

## Purposes of restricted funds: 

Youth Work Programme - Outreach and detached delivered in estates and youth club based activites 

Youth Sport Progammes - Sports sessions delivered in schools, estates and youth clubs 

Young Health & Lifestyle Programmes - Programmes that address the personal development of young people and the local community such as workshops, mental and physical wellbeing Youth Enterprise & Learning - Programmes targetting young people in developing their career & opportunites 

28 



## **SKYWAY CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

**(Prior year comparatives)** 

## **17. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Youth Work Programme (Outreach and Detached)<br>Youth Sports Programmes<br>Young Health & Lifestyle Programmes<br>Youth Enterprise & Learning<br>**TOTAL FUNDS**|At 1.4.21<br>£<br>348,901<br>22,794<br>11,877<br>4,176<br>4,680<br>43,527<br>392,428|Incoming<br>resources<br>£<br>48,613<br>423,531<br>27,445<br>158,062<br>10,143<br>619,180<br>667,793|Resources<br>expended<br>£<br>(4,845)<br>(452,877)<br>(23,366)<br>(169,750)<br>(10,452)<br>(656,446)<br>(661,291)|Transfer<br>between funds<br>£<br>(14,064)<br>6,552<br>-<br>7,512<br>-<br>14,064<br>-|At 31.3.22<br>£<br>378,605<br>-<br>15,955<br>-<br>4,370<br>20,325<br>398,930|
|---|---|---|---|---|---|



Restricted funds all relate to activities carried out within the charity. 

29 



## **SKYWAY CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **18. Reconciliation of net (expenditure)/income to net cash flow from operating activities** 

|**Net (expenditure)/income for the reporting period (as per the statement of financial activities)**<br>**Adjustments for:**<br>Depreciation charges<br>Interest income<br>(Increase)/decrease in debtors<br>Increase/(decrease) in creditors<br>**Net cash (used in)/provided by operating activities**|2023<br>£<br>(5,518)<br>4,621<br>(1,475)<br>55,918<br>(1,197)<br>**52,349**|2022<br>£<br>6,502<br>3,823<br>(61)<br>18,093<br>55<br>**28,412**|
|---|---|---|



## **19. Analysis of changes in net (debt)/funds** 

The Charity had no debt during the year. 

## **20. Related Party Transactions** 

There have been no related party transactions in this financial year or in the prior year. 

30 



## **SKYWAY CHARITY** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** 


**----- Start of picture text -----**<br>
2023 2022<br>Total Total<br>funds funds<br>Income from: £ £<br>Donations 79,664 30,381<br>Interest receivable 1,475 61<br>Charitable activities 500,613 594,665<br>Other 34,573 42,686<br>Total income 616,325 667,793<br>Expenditure on:<br>Raising funds<br>Marketing & advertising 1,614 681<br>1,614 681<br>Charitable activities<br>Wages 392,657 378,386<br>Social security 33,747 35,265<br>Staff costs - other 8,104 15,688<br>Volunteer expenses 10 1,237<br>Beneficiary costs 42,304 69,551<br>Project management costs 42,154 66,207<br>Marketing & advertising 1,614 681<br>Premises 59,559 55,592<br>General office 28,860 30,016<br>609,009 652,623<br>Goverance<br>Auditors' remuneration 6,600 4,164<br>6,600 4,164<br>Depreciation and gain on disposal<br>Fixtures and fittings 2,317 2,317<br>Office and computer equipment 2,303 1,506<br>4,620 3,823<br>Total expenditure 621,843 661,291<br>Net (expenditure)/income (5,518) 6,502<br>**----- End of picture text -----**<br>


31 



## **SKYWAY CHARITY** 

## **INDEPENDENT AUDITOR’S REPORT** 

## **TO THE MEMBERS OF SKYWAY CHARITY** 

## **Opinion** 

We have audited the financial statements of Skyway Charity (the ‘charitable company’) for the year ended 31 March 2023 which comprise the statement of financial activities (including income and expenditure account), the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies.  The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the trustees’ report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the trustees' report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of directors’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit **;** or 



**SKYWAY CHARITY** 

## **INDEPENDENT AUDITOR’S REPORT (CONTINUED) TO THE MEMBERS OF SKYWAY CHARITY** 

- the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report **.** 

## **Responsibilities of trustees** 

As explained more fully in the trustees’ responsibilities statement (set out at the end of the trustees’ annual report), the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. 

In determining the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur, we carried out a risk assessment for the year, considering the following sources: 

- Communication with the client at commencement of audit 

- The results of our preliminary analytical review 

- Audit team discussion 

- Permanent file risk assessment summary 

This assessment considered the risks, any mitigating internal controls, the likelihood of material misstatement and identified the specific tests to be carried out in our audit work. 

Our audit plan and approach then documented the procedures to be undertaken in response to these assessed risks. 

The laws and regulations we identified as being of significance in the context of the charitable company are as follows: 

- Health and Safety 

- Employment Law in respect of employee matters 

- Legislation and policies around safeguarding children and young adults 

- Financial reporting regulations (Charities SORP FRS102, CA2006) 

Our audit response to the risks identified included, but was not limited to, the following: 

- Enquiry of management and those charged with governance around actual and potential litigation and claims. 

- Enquiry of staff in compliance functions to identify any instances of non-compliance with laws and regulations. 

- Reviewing minutes of meetings of those charged with governance. 

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. 

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of any significant transactions outside the normal course of business. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 



## **SKYWAY CHARITY** 

## **INDEPENDENT AUDITOR’S REPORT (CONTINUED) TO THE MEMBERS OF SKYWAY CHARITY** 

- A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for This description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. 

…………………………………………………………. 

**Jacobus van der Merwe ACA  (Senior Statutory Auditor) for and on behalf of Profile Accountants Ltd** 

## **Chartered Accountants Statutory Auditor** 

124 City Road London EC1V 2NX 

Date……………………………… 13 December 2023