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2023-03-31-accounts

Reference and Administrative Details 1-2
Trustees Annual
Report		 3-14
Independent
Auditor's
Report		 15-18
Statement ofFinancial Activities 19-20
Statement ofFinancial Position 21
Statement ofcash flows 22
Notes to the financial statements 23-34

Administrative Administrative details
Registered Name The Albert Kennedy Trust
Other Names akt
Charity Registration Number 1093815
Company Registration Number 04494989
Principal and Registered Office: 19-20Parr Street
London
N1 7GW
Founder Patron Cath RJohnson MBE
Patrons Sir lan McKellen
Claire Harvey
Dan Gillespie Sells
Daniel Winierfeldt
Heather Peace
Henry Holland
Jake Graf
Hannah
Graf
Phyll Opoku-Gyimah
Russell Tovey
Suki Sandhu
Stephen
K Amos
Board ofTrustees Robert Malcomson, Chair ofTrustees
Bontle Senne, Vice Chair (appointed 21July 2022)
Richard Macmillan, Vice Chair
Amy Prendergast
Asad Dhunna
(resigned 12August 2023)
Colin Douglas
Ed Tytherleigh
(appointed 4 February		 2023)
Helen Johnston
(resigned 7 December 2022)
Joanne Lockwood (appointed 21 May 2022, resigned 19
October 2023)
Lee Beattie (resigned 1October 2022)
Martin
Collett
Matthew
Campion		 (resigned 16October 23)
Matthew
Haworth
Stephanie
Dittmer
Terry Stacy MBE (resigned 24 June 2022)
Dr. Thomas
Flynn
Yoni Ejo
Company Secretary Joanne McKenna (appointed 1October 2022)
Richard Macmillan (resigned 1October 2022)

Bankers CAF Bank
Kings Hill Avenue
Kings Hill
West Mailing
Kent
ME194JQ
Co-operative Bank
1Balloon Street
Manchester
M60 4EP
External Auditor Haines Watts
17Queens Lane
Newcastle upon Tyne
NE1 1RN

Risk Mitigations Mitigations
Ineffective operating ~ The restructure
ofthe P&O team better reflects the size ofthe
structures organisation
to ensure stability and resilience.
~ The P&0team is implementing
and review of policies, procedures
and practice across the organisation.
~ Following
a full data protection
review, akt has created a cross-team
GDPR committee
and the appointment
of a DPO for the
organisation.
~ A newly formed
H&S committee
is also established.
Employment issues ~ Expansion ofthe People team to provide capacity to staff experience
and additional
support to the People Manager for administrative
tasks.
Continued
review ofPeople policies.
~ Akt continue to access support from an external
HR provider for
legal support,
an employee
portal, and training
modules.
~ Akt also provides support to staff with an Employee Assistance
Portal for support with wellbeing
and mental
health.
~ The job evaluation
and banding
process remains
in place alongside		 a
new pay and progression
policy.

Risk Mitigation s Mitigation s
Loss ofkey staff ~ A revised scheme ofdelegation
in place which now allows		 for
Directors and Managers to share responsibility
for duties.
~ Teams creating better documentation
for departmental
practices.
~ Training opportunities
in place for continued
professional
development.
~ Agreed notice periods and handovers.
~ Established
skills-based
staff recruitment
process in place.
Insufficient capacity to ~ Capacity issues are discussed
regularly at SMT meetings,
committee
deliver our work (HR, E, meetings
and board meetings
and within
accompanying
papers.
infrastructure) ~ Directorates
looking at future ways ofworking
and the shape and
size ofteams to support
multi-year
budgeting
and ensuring
affordability.
Poor performance against ~ Management
accounts reviewed at each board meeting.
budget e Scrutiny ofincome and expenditure
targets and results
by		 FFR
Committee.
~ Rigor of budgeting
process and creation ofmulti-year
budgeting.
~ Social Value Reporting for external audiences to illustrate impact of
donations.

Total Total
Unrestricted Designated Restricted funds funds
funds funds funds 2023 2022
Note E f f E
Income from:
Donations
and legacies		 1,943,434 109,686 2053 120 2&184&689
Charitable
activities:		 41,886 328,850 370,736 552,435
Other trading activities 1,434
Investments 17,808 17,808 6,617
Total income 2,003,128 109,6&6 328,850 2,441,664 2,745,175
Expenditure
on:
Raising funds 354,920 354,920 365,331
Charitable
activities:		 1,698,128 221,390 410,114 2,329,632 1,819,046
Total expenditure 2,053,048 221,390 410,114 2,684,552 2,184,377
Net (expenditure)/income 10 (49,920) (111,704) (81,264) (242,888) 560,798
Reconciliation
offunds
Total funds brought forward 1,689,040 525,227 221,321 2,435,588 1,874,790
Total funds carried forward 1,639,120 413,523 140&057 2,192,700 2,435,588

Unrestricted Oesignated Restricted Total funds
funds funds funds 2022
Note f E E
Income from:
Donations
and legacies		 2,184,689 2,184,689
Charitable
activities:		 70,188 482,247 552,435
Other trading activities 1,434 1,434
Investments 6,617 6,617
Total income 2,262,928 482,247 2,745,175
Expenditure
on:
Raising funds 365,331 365,331
Charitable
activities:		 1,348,676 131,061 339,309 1,819,046
Total expenditure 1,714,007 131,061 339,309 2,184,377
Net income/(expenditure)
before transfers 548,921 (131,061) 142,938 560,798
Transfers 10 5,088 (5,088)
Net income/(expenditure) 554,009 (136,149 142,938 560,798
Reconciliation offunds
Total funds brought forward 1,135,031 661,376 78,383 1,874,790
Total funds carried forward 1,689,040 525,227 221,321 2,435,588

2023 2022
f f
Net (expenditure)
/ income for the year		 (242,sss) 560,798
Adjustments
for:
Depreciation
charge		 23,962 45,154
(Profit) / Loss on disposal offixed assets (617) 1,298
Dividends,
interest and rents from investments		 (17,808) (6,617)
Decrease / (increase)
in debtors		 311,903 (368,905)
(Decrease) / increase
in creditors		 (4,409) 105,8&1
Net cash provided
by operating		 activities 70,143 337,609
2023 2022
f f
Net cash provided
by operating		 activities 70,143 337,609
Cash flows from investing
activities:
Interest income 17,808 6,617
Purchase oftangible fixed assets (24,796) (25,130)
Proceeds from the disposal offixed assets 829 390
Transfer from / (to)short-term
deposits		 293,514 (444,923)
Net cash (provided)/usedininvesting activities (287,355) (463,046)
Increase/
(decrease)
in cash and		 cash equivalents 357,498 (125,437)
Cash and cash equivalents
at the		 beginning ofthe year 596,921 722,358
Cash and cash equivalents
at the end ofthe year		 954,419 596,921
Analysis ofchanges
in net funds
At 1April At 31March
2022 Cash flows 2023
f f f
Short term deposits 1,612,400 (293,514) 1,318,8&6
Cash and cash equivalents 596,921 357,498 954,419
2,209,321 63,984 2,273,305

Office fixtures and equipment 4years
Leasehold
Improvements		 Over the term ofthe lease

. Income from donations and legacies
Unrestricted Designated Total Funds Total Funds
Funds Funds 2023 2022
f f f E
Donations
and gift aid		 1,943,434 1,943,434 1,849,864
Coronavirus job retention scheme 2,067
Legacies 109,686 109,686 332,758
1,943,434 109,686 2,053,120 2,184,689
4. Income from charitable activities
Unrestricted Rest:ricted Total Funds Total Funds
Funds Funds 2023 2022
f f f E
Young People Support 11,435 249,842 261,277 462,552
Youth Engagement 50,000 50,000 11,840
Purple Door Housing 30,451 29,008 59,459 78,043
41,886 328,850 370,736 552,435
5. Other trading activities
Unrestricted Restricted Total Funds Total Funds
Fundsf Funds
f		 2023
f		 2022
E
Sale ofmerchandise 5,291
5,291

Investment income 2023 2022
f f
Income from bank deposits 17,808 6,617

Direct Staff Support
Costs Costs Costs 2023 2022
f f. f
Costs ofGenerating Funds
Fundraising
costs		 90,900 78,834 85,186 354,920 365,331
Costs ofCharitable Activities
Young people support 351,834 823,794 392,408 1,568,036 1,135,931
Youth engagement 30,149 64,502 30,725 125,376 89,567
Purple Door housing 49,630 37,649 17,934 105,213 208,769
Digital, comms and research 142,250 239,028 113,859 495,137 359,222
Governance 35,870 35,870 25,557
700,633 1,343,807 640,112 2,684,552 2,184,377

Generating Charitable
funds activities 2023 2022
f f f
Premises cost 5,108 33,274 38,382 27,389
Admin 6,620 43,124 49,744 35,788
Staff expenses, recruitment &training 5,047 32,882 37,929 38,027
Legal &professional fees 8,624
Development &strategy costs 2,540 16,545 19,085 32,021
Support staff costs 65,871 429,101 494,972 388,152
85,186 554,926 640,112 530,001

Analysis ofgovernance
costs
Governance Total Total
2022 2022
f f f
Audit fees 8,640 8,640 8,640
Trustee costs 27,230 27,230 16,917
35,870 35,870 25,557

Net Income (expenditure) Net Income (expenditure) Net Income (expenditure) forthe year
This is stated after charging/(crediting): 2023 2022
f f
Depreciation 23,962 45,154
(Profit)/Loss
on disposal		 offixed assets (616) 1,298
Operating
lease rentals:
Property 100,640 89,811
Other 955 955
Auditor's
remuneration		 -audit fees 7,200 7,200
Staffcosts
Staff costs during the year were as follows: Total Total
2023 2022
f f
Wages and salaries 1,588,044 1,187,555
N ati on a I Insura nce 157,375 105,579
Pension 93,360 70,662
1,838,779 1,363,796
number ofemployees whose remuneration fell within the following bands were:
2023 2022
No. No.
f70,001-f80,000 1
f60,000 - f70,000 1

15. Tangible fixe d asse ts
Office Leasehold
furniture
&		 Improvements
Cost equipment
f		 Total
f
At 1April 2022 55,589 69,584 125,173
Additions 24,796 24,796
Disposals (2,511) (2,511)
At 31March 2023 77,874 69,584 147,458
Depreciation
At 1April 2022 20,082 57,688 77,770
Charge for the year 16,330 7,632 23,962
Disposals (2,299) (2,299)
At 31March 2023 34,113 65,320 99,433
Net book value
At 31March 2023 43,761 4,264 48,025
At 31March 2022 35,507 11,896 47,403
16. Debtors 2023 2022
f f
Trade debtors 27,718 9,089
Other debtors 17,398 24,978
Prepayments and accrued income 108,261 431,213
153,377 465,280
17. Creditors: amounts falling due within one year 2023 2022
f f
Trade creditors 123,145 159,980
Other creditors and accruals 115,595 93,918
Taxation and social security costs 43,267 32,518
282,006 286,416

18 Deferred income 2023 2022
f f
Balance as at 1April 9,110
Amount released to income from charitable activities (9,110)
Amount deferred in the year
Balance as at 31 March

Analysis ofmovements
in restricted f		 unds
Balance at Income Expenditure Balance at B1
1April March 2023
2022
f
Barclays Bank 75,063 (75,063)
Emmanuel
Kaye Foundation		 23333 (23,333)
GMBOP: Pathfinder
Programme		 17,970 (17,970)
Greater Sport Grant 7,045 (1,589) 5,456
Henry Smith Charity 9,833 29,600 (29,566) 9,867
Insurance
Industry
Charitable
Foundation 8,034 (8,034)
Landaid 14,603 (14,603)
LHA London 14,405 (14,405)
London Youth Gateway 31,050 (31,050)
Manchester
City Council		 19,000 (19,000)
Paul Hamlyn
Foundation		 50,000 (33,799) 16,201
RISEActive Partnership 2,255 2,255
St Martin
in the Fields		 89,091 109,897 92,710 106,278
The Ballinger Trust 6,667 (6,667)
The Pret Foundation 10,000 (10,000)
Yorkshire
Building Society Charitable
Foundation 29,000 (29,000)
Grants f5,000or less 3,325 (3,325)
Total 221,321 328,850 (410,114) 140,057

Analysis of move ment
in U		 nrestricted
fu		 nds
Balance Income Expenditure Balance at
at 1April 31March
2022 2023
f f f f
Unrestricted -general 1,689,040 2,003,128 (2,053,048) 1,639,120
Designated funds:
Development Projects and
National
Growth		 525,227 109,686 (221,390) 413,523
Total Unrestricted Funds 2,214,267 2,112,814 (2,274,438) 2,052,643
Balance Income Expenditure Transfers Balance at
at 1April 31March
2021 2022
f f f f f
General fund 1,135,031 1,930,170 (1,714,006) 337,847 1,689,040
Designated funds:
Development Projects
and National Growth 323,529 332,758 (131,061) 525,226
Contractual obligations 337,847 (337,847)
Total Designated Funds 661,376 332,758 (131,061) (337,847) 525,226
Total Unrestricted Funds 1,796,407 2,262,928 (1,845,067) - 2,214,268

Unrestricted Unrestricted Funds
General Designated Restricted Total
fund Funds funds 2023
f f f f
Tangible fixed assets 48,025 48,025
Net current assets 1,593,635 410,983 140,057 2,244,675
1,641,660 410,983 140,057 2,192,700
Unrestricted Funds
General Designated Restricted Total
fund Funds funds 2022
f f f f
Tangible fixed assets 47,403 47,403
Net current assets 1,641,638 525,226 221,321 2,388,185
1,689,041 525,226 221,321 2,435,588
Property Equipment
2023 2022 2023 2022
f f f f
Less than one year 97,290 64,802 1,536 955
One to five years 35,176 57,155
132,466 121,957 1,536 955