2021-03-31-accounts - The Albert Kennedy Trust

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Contents
Reference and Administrative	Details	1-3
Trustees Annual Report		4-20
Independent Auditor's Report		21-24
Statement of Financial Activities		25
Statement of Financial Position		26
Statement ofcash flows		27
Notes tothe financial statements		28-39

Administrative	Administrative	Administrative	details
Registered		Name			The Albert Kennedy		Trust
Charity Number					1093815
Company		Number			A company limited		by guarantee		incorporated	in	England
					(No 04494989) and		governed	by	its memorandum		and
					articles ofassociation.
Principal	and		Registered	Office:	19-20Parr Street
					London
					N1 7GW
Founder	Patron				Cath RJohnson	MBE
Patrons					Sir lan McKellen
					Charlie Condou
					Claire Harvey
					Dan Gillespie Sells
					Daniel Winterfeldt
					Heather Peace
					Henry Holland
					Jake Graf
					Phyll Opoku-Gyimah
					Russell Tovey
					Suki Sandhu
					Simon Callow (retired August			2021)
					Stephen KAmos
Ambassadors					Baroness Barker
					Lord Norton of Louth
					Kate Green MP
					Christopher Leader
					Matt Cain
					Chris Attwood
Young Ambassadors					Sam
(surnames		omitted for safeguarding)			Joel
					Robyn
					Emily
					Prime
					Liz

Board ofTrustees			Terry Stacy MBE, Chair ofTrustees	Terry Stacy MBE, Chair ofTrustees	Terry Stacy MBE, Chair ofTrustees
			Susan Eastoe, Vice Chair
			Robert Malcomson, Treasurer
			Amy Prendergast (appointed		30January		2021)
			Asad Dhunna
			Colin Douglas (appointed 22	May 2021)
			Faz Bukhari (appointed BJuly		2020)
			Helen Johnston
			Lee Beattie (appointed 22 May 2021)
			Lesley Brook (resigned 2 April		2020)
			Martin Collett
			Matthew Campion
			Matthew Haworth
			Paul Bates (resigned 14July 2021)
			Richard Bayly (resigned 2 April 2020)
			Richard Macmillan
			Sally Hill (resigned 14July 2021)
			Stephanie Dittmer
			Thomas Flynn
			Yoni Ejo (appointed 30January 2021)
Key Management	Personnel		Chief Executive: Tim Sigsworth		MBE
			Deputy Chief Executive: Carrie Reiners
			Director ofCommunications	and Campaigns:				Kevin Leonce
			(joined July 2021),Matt Horwood			(left August		2021)
			Director of Finance: Joanne McKenna
			Director ofServices: Lucy Bowyer
			Assistant Director ofServices:		Hayley Speed
			Assistant Director of People,	Performance			and Culture:		Hannah
			Taylor
Company Secretary			Richard Macmillan
Services Committee			Yoni Ejo, Chair
			Martin Collett
			Helen Johnston
			Terry Stacy
			Faz Bukhari
			Tabz O' Brien (lay member)
Finance and Fundraising		Committee	Tom Flynn, Chair
			Rob Malcomson, Treasurer
			Stephanie Dittmer
			Matt Campion
			Will Connolly (lay member)
			Sam Williams (lay member)

Governance	Risk Committee	Richard Macmillan,	Richard Macmillan,	Chair
		Terry Stacy
		Martin Collett
		Faz Bukhari
		Asad Dhunna
		Amy Prendergast
		Eve Berteen (lay	member)
Communications	Committee	Susan Eastoe, Chair
		Colin Douglas
		Lee Beattie
		Rafay Agha (lay member)
		Alim Kheraj (lay	member)
		Helen Scott (lay	member)
		Tereza Litsa (lay	member)
		Nicola Miller (lay member)
Business Advisory	Group	Martin Collett, Chair
		Matt Campion
		Terry Stacy
		Mark Edel-Hunt	(lay	member)
		Ste Dunn (lay member)
Bankers		CAF Bank
		Kings Hill Avenue
		Kings Hill
		West Mailing
		Kent
		ME194JQ
		Co-operative Bank
		1Balloon Street
		Manchester
		M60 4EP
External Auditor		Beever and Struthers
		StGeorge's House
		215-219Chester	Road
		Manchester
		M15 4JE

Bloomberg						Jeffries
Brookfield Properties						Johnson and Johnson
Burberry						Marks and Spencer
Corptel						Microsoft Globa I
Deckers Europe Ltd						Morrison Foerster
Depop						Proctor and Gamble
Direct Line						Ted Baker
Dr Martens						Tesco
Ebay						The Alchemist
il in L		K				niv r I M i r	i	n
Harry's Shave Club						Victoria Beckham Ltd
Invesco
CAF Resilience Fund						London Hostel Association
City Bridge Trust						MRG Prudential Community			Fund
Clarion Futures						Manchester City Council
Coach Foundation						MariaMarina Foundation
Community Foundation		for TWIN				Morrisons Foundation
David 5 Ruth Lewis	Family		Charitable		Trust	National Lottery Community			Fund
Emma nue I Kaye Foundation						Paul Cottingham Trust
Garfield Weston Foundation						Quartet Community Foundation
Global Make Some	Noise					RISE Active Partnership
Henry Smith Charity						The Ballinger Charitable	Trust
Hyatt Community Grants			Fund			The Evan Cornish Foundation
Kleinwort Hambros	Trust					The Goldsmiths' Company		Charity
LandAid Charitable	Trust					The Krietman Foundation
LGBT+ Futures Fund						The Pret Foundation
London Community	Response			Fund		Trust for London
London Homeless Collective						We Love Manchester

16-25 Independent	Interlaw	Diversity	Network
42"'Street	Linklaters
Baker McKenzie	Mayer	Brown
Corptel	Norton	Rose Fulbright
Caring in Bristol	Off the	Record/Freedom	Youth Project
Ebay	Uber
Hummingbird Bakery	Universal Music

he focus across t	he organi	sation	in 2021/22 is as follows:
Business		~	Complete and implement strategy for 2022-27
Development		~	Develop a framework for measuring social value
		~	Begin multi-year budget planning
		~	Board recruitment: chair and vice chair
		~	Crisis and business continuity planning for key risks
		~	Move into new service centres in Newcastle and Southwest
		~	Implement digital transformation plan: phase 1
		~	Introduce an EDI strategy
		~	Carry out ajob role and pay evaluation exercise
Service Development		~	Complete a review of housing options with external consultants
		~	Launch Purple Door Manchester
		~	Youth engagement programme: forward plan
		~	Audit of digital services and forward plan
Communications	and	~	Campaign to lobby for universal and uniform mandatory	monitoring
Campaigns		~	Marketing strategy for organisation
		~	National Igbtq+ youth homelessness survey

					Total	Total
			Unrestricted	Restricted	funds	funds
			funds	funds	2021	2020
		Note	f	f	f	f
Income from:
Donations and legacies			1,406,087		1,406,087	1,728,415
Charitable activities:			116,998	379,118	496,116	314,546
Other trading activities			5,291		5,291	112,832
Investments			1,378		1,378	1,381
Total income			1,529,754	379,118	1,908,872	2,157,174
Expenditure on:
Raising funds			317,687		317,687	427,439
Charitable activities:			966,300	379,118	1,345,418	1,089,674
Total expenditure			1,283,987	379,118	1,663,105	1,517,113
Net income/(expenditure)
and net movement	in funds
for the year		10	245,767		245,767	640,061
Reconciliation offunds
Total funds brought	forward		1,500,640		1,500,640	860,579
Total funds carried	forward		1,746,407		1,746,407	1,500,640

			Note	31March	2021	31March	2020
				f	f	E	E
Fixed assets
Tangible assets			15		69,115		71,270
Current assets
Debtors			16	96,375		145,416
Stock						417
Short term deposits				1,167,477
Cash at bank	and in	hand		722,358		1,459,919
				1,986,210		1,605,752
Creditors: amounts		falling due
within one	year		17	(308,918)		(176,382)
Net current	assets			1,677,292		1,429,370
Net assets					1,746,407		1,500,640
Funds ofthe	charity:
Restricted income funds			19
Unrestricted	income	funds	20		1,746,407		1,500,640
Total funds					1,746,407		1,500,640

						2021	2020
						f	f
Net cash provided by operating			activities			448,058	686,042
Cash flows from investing		activities:
Interest income						1,378	1,381
Purchase oftangible	fixed	assets				(19,770)	(78,859)
Proceeds from the disposal offixed assets						250	3,882
Transfer to short-term deposits						(1,167,477)
Net cash used in investing		activities				(1,185,619)	(73,596)
Increase in cash and	cash equivalents					(737,561)	612,446
Cash and cash equivalents		at the	beginning	ofthe year		1,459,919	847,473
Cash and cash equivalents		at the end ofthe year				722,358	1,459,919
Reconciliation of net	income to net cash flow provided				by operating	activities
						2021	2020
						f	f
Net income for the	year					245,767	640,061
Adjustments for:
Depreciation charge						20,921	15,019
Loss/(profit) on disposal offixed			assets			754	(1,311)
Dividends, interest and rents from investments						(1,378)	(1,381)
Decrease/(increase)	in stock					417	(417)
Decrease in debtors						49,041	15,198
Increase in creditors						132,536	18,873
Net cash provided by operating			activities			448,058	686,042
Analysis ofchanges	in net funds
							At 31
					At 1April		March
					2020	Cash flows	2021
					f	f	f
Short term deposits						1,167,477	1,167,477
Cash and cash equivalents					1,459,919	(737,561)	722,358
					1,459,919	429,916	1,889,835

Income fro	m donations	and legacies
			Unrestricted	Restricted	Total Funds	Total Funds
			Funds	Funds	2021	2020
			f	f	f	f
Donations	and gift aid		1,375,706		1,375,706	1,573,629
Coronavirus	job retention	scheme	28,981		28,981
Legacies			1,400		1,400	154,786
			1,406,087		1,406,087	1,728,415
2020 Comparatives			1,713,415	15,000	1,728,415
Income from charitable		activities
			Unrestricted	Restricted	Total Funds	Total Funds
			Funds	Funds	2021	2020
			f	f	f	f
Young People Support			75,782	312,632	388,414	180,170
Youth Engagement				5,153	5,153	25,500
Purple Door			41,216	61,333	102,549	108,876
			116,998	379,118	496,116	314,546
2020 comparatives			122,823	191,723	314,546

			Unrestricted	Restricted	Total Funds	Total Funds
			Funds	Funds	2021	2020
			f	f	f	f
Sale of merchandise			5,291		5,291	16
Fundraising		Events				112,816
			5,291		5,291	112,832
All funds	in	2020 were unrestricted

2021	2020
f	f
1,378	1,381

				Direct	Staff	Support
				Costs	Costs	Costs	2021	2020
				f	f		f	f
Costs	ofGenerating		Funds
Fundraising		costs		60,963	172,928	83,796	317,687	427,439
Costs	ofCharitable		Activities
YP support				176,329	421,478	203,832	801,639	589,982
Youth	engagement			15,454	43,310	20,990	79,754	75,017
Housing				68,910	56,211	27,262	152,383	94,943
Digita	I comms and		resea rch	43,508	167,802	81,120	292,430	308,645
Governance				19,212			19,212	21,087
				384,376	861,729	417,000	1,663,105	1,517,113

			Generating	Charitable
			funds	activities	2021	2020
			f	f	f	f
Premises cost			6,673	26,579	33,252	30,917
Admin			5,713	22,754	28,467	28,102
Staff expenses,	recruitment 5training		5,135	20,455	25,590	22,493
Legal% professional		fees	1,729	6,886	8,615	6,282
Support staff costs			64,432	256,644	321,076	243,751
			83,682	333,318	417,000	331,545

Analysis ofgovernance costs
	Governance	Total	Total
		2021	2020
		f	f
Audit fees	6,906	6,906	5,856
Trustee costs	12,306	12,306	15,231
	19,212	19,212	21,087

10.	Net Income (expenditure)	Net Income (expenditure)	Net Income (expenditure)	for the year
	This is stated after charging/(crediting):				2021 f	2020 f
	Depreciation				20,921	15,019
	Loss/(profit) on disposal		offixed assets		754	(1,311)
	Operating lease rentals:
	Property				85,917	68,817
	Other				1,468	2,088
	Auditor's remuneration		—audit fees		6,906	5,856
11.	Staff costs
	Staff costs during the	year		were as follows:	Total	Total
					2021	2020
					f	f
	Wages and salaries				967,469	772,567
	Nationallnsurance				89,761	74,762
	Pension				60,457	48,079
					1,117,687	895,408
	Holiday pay accrual				2,466	1,236
	Recruitment, training	and		HR	69,570	53,257
	Travel accommodation		8	subsistence	18,672	41,347
					90,708	95,840
					1,208,395	991,248
	Allocated as follows:
	Cost of raising funds				242,590	187,486
	Charitable activities				965,805	803,762
					1,208,395	991,248

				2021	2020
				f	f
Trustee	recruitment	8	training	12,141	11,298
Trustee	expenses			165	3,933
				12,306	15,231

Government	Grants recognised in the accounts	were as follows:
		2021	2020
		f	f
Manchester	City Council	28,100	28,100
Hackney Council			15,000
		28,100	43,100

Tangible fixed assets
	Office	Leasehold
	furniture 5	Improvements
	equipment		Total
Cost	f		f
At 1April 2020	30,000	59,757	89,757
Additions	9,943	9,827	19,770
Disposals	(3,778)		(3,778)
At 31March 2021	36,165	69,584	105,749
Depreciation
At 1April 2020	8,527	9,960	18,487
Charge for the year	7,857	13,064	20,921
Disposals	(2,774)		(2,774)
At 31March 2021	13,610	23,024	36,634
Net book value
At 31March 2021	22,555	46,560	69,115
At 31March 2020	21,473	49,797	71,270

16.	Debtors					2021	2020
						f	f
	Trade debtors					16,058	15,201
	Other debtors					20,078	17,116
	Prepayments and		accrued income			60,239	113,099
						96,375	145,416
17.	Creditors: amounts			falling due within one	year	2021	2020
						f	f
	Trade creditors					66,133	50,779
	Other creditors and			ace rua Is		70,442	70,275
	Deferred	income	(note 18)			137,493	32,537
	Taxation	and social		security costs		34,850	22,791
						308,918	176,382
18	Deferred	income				2021	2020
						f	f
	Balance	as at 1April				32,537	35,208
	Amount	released	to	income from charitable	activities	(32,537)	(35,208)
	Amount	deferred	in	the year		137,493	32,537
	Balance	as at 31March				137,493	32,537

Analysis ofmovements	in	restricted	restricted	funds
				Balance at 1	Income	Expenditure	Balance at 31
				April 2020			March 2021
						f
CAF Resilience Fund					31,806	(31,806)
City Bridge Trust					30,000	(30,000)
Clarion Futures					500	(500)
Coach Foundation					18,934	(18,934)
Comic Relief					12,409	(12,409)
Community Foundation	TWIN				8,000	(8,000)
David S.Ruth Lewis Family		Trust			12,500	(12,500)
Emmanuel Kaye Foundation					12,500	(12,500)
Global Make Some Noise					47,641	(47,641)
Henry Smith Charity					29,500	(29,500)
Hyatt Community Grants	Fund				5,153	(5,153)
Kleinwort Hambros Trust					1,000	(1,000)
LandAid Charitable Trust					5,000	(5,000)
LGBT+ Futures					5,000	(S,ooo)
LHA London					40,250	(40,250)
London Funders					19,815	(19,815)
MRG Prudential Community			Fund		2,500	(2,500)
Manchester City Council					19,000	(19,000)
MariaMarina Foundation					10,000	(10,000)
Morrisons Foundation					3,000	(3,000)
National Lottery Community			Fund		14,625	(14,625)
Quartet Community Foundation					5,000	(5,000)
The Ballinger Trust					10,000	(10,000)
The Evan Cornish Foundation					8,527	(8,527)
The Goldsmiths' Company		Charity			8,958	(8,958)
The Kreitman Foundation					5,000	(S,ooo)
The Pret Foundation					10,000	(10,000)
We Love Manchester					2,500	(2,500)
Total					379,118	(379,118)
				Balance at 1	Income	Expenditure	Balance at 31
				April 2019			March 2020
AXA Healthcare					500	(500)
The Ballinger Charitable	Trust				10,000	(10,000)
Charity Service Discretionary			Fund		1,200	(1,200)
City Bridge Trust					27,500	(27,500)
Community Foundation	TWS.N				2,000	(2,000)
DWF Foundation					1,200	(1,200)
Evan Cornish Foundation					5,000	(5,000)
Fine and Country					1,000	(1,000)
The Goldsmiths' Company		Charity			18,958	(18,958)

Hackney VCS Grants Programme	Hackney VCS Grants Programme		15,000	(15,000)
Leathersellers' Charitable	Fund		10,000	(10,000)
LNER CCIF			25,000	(25,000)
London Hostel Association			30,000	(30,000)
Manchester City Council			19,000	(19,000)
NPT Transatlantic			2,969	(2,969)
Pret Foundation		7,159	17,396	(24,555)
SirJames Knott Trust			5,000	(5,000)
Corporate Partners			15,000	(15,000)
Total		7,159	206,723	(213,882)

Analysis ofmovem	ent in U	nrestricted fu	nds
		Balance	Income	Expenditure	Transfers	Balance at
		at 1April				31March
		2020				2021
		f	f	f	f	f
General fund		762,582	1,528,354	(1,260,651)	54,746	1,085,031
Designated funds:
Development Projects and
National Growth		345,465	1,400	(23,336)		323,529
Contractual obligations		392,593			(54,746)	337,847
Total Designated	Funds	738,058	1,400	(23,336)	(54,746)	661,376
Total Unrestricted	Funds	1,500,640	1,529,754	(1,283,987)		1,746,407
		Balance	Income	Expenditure	Transfers	Balance at
		at 1April				31March
		2019				2020
		f	f	f	f	f
General fund		467,685	1,795,665	(1,251,165)	(249,603)	762,582
Designated funds:
Development Projects and
National Growth		242,745	154,786	(52,066)		345,465
Contractual obligations		142,990			249,603	392,593
Total Designated	Funds	385,735	154,786	(52,066)	249,603	738,058
Total Unrestricted	Funds	853,420	1,950,451	(1,303,231)		1,500,640

	Unrestricted	Funds
	General	Designated	Restricted	Total
	fund	Funds	funds	2021
	f	f	f	f
Tangible fixed assets	69,115			69,115
Net current assets	1,015,916	661,376		1,677,292
	1,085,031	661,376		1,746,407
	Unrestricted	Funds
	General	Designated	Restricted	Total
	fund	Funds	funds	2020
	f	f	f	f
Tangible fixed assets	71,270			71,270
Net current assets	691,312	738,058		1,429,370
	762,582	738,058		1,500,640

				Equipment
		2021	2020	2021	2020
		f	f	f	f
Less	than one year	81,153	81,348	398	1,392
One	to five years	7,693	85,618
		88,846	166,966	398	1,392