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|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|
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|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)|||
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|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|||
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|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.||
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|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.||
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|||||||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|
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|||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|
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||||||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|
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|Office fixtures and equipment|4years|
|---|---|
|Leasehold
Improvements|Over the term ofthe lease|
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|.|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|
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|Investment|income|2023|2022|
|---|---|---|---|
|||f|f|
|Income from|bank deposits|17,808|6,617|
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|||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|
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|||||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|
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|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|
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|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||
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|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|
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|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|
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|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|
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||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|
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