CONSTRUCTION YOUTH TRUST CONSTRUCTION INDUSTRY TRUST FOR YOUTH (A company limited by guarantee) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2021 Company Number.. 04461812 Charity Number.. 1094323
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CONSTRUCTION YOUTH TRUST Annual Report of the Trustees for the year ended st 31 December 2021 ilk.
The Chairfs Report On behalf of the Constructlon Youth Trust Board of Trustees, l am pleased to submit the Annual Report and audited financial statements for the year endin8 31st December 2021. 2021 was an exciting year for the Trust as the Board and Senior Leadership Team finalised our ambitious 2021-2024 Business Plan. after an in-depth strateglc revlew examining what we do well, where we can improve to increase our Impact for youn8 people and how we can strengthen our organi5ational resilience. We sought feedback from partners and youn8 people ond reflected on the challenges and opportunlties posed by the COVID-19 pandemic. Our new plan renews commitment to our key strategic priorities: focusin8 on specrfic place-based hubs where we can maxSmi5e impact, buildinB long-term partnership wlth schools & colleges to create rewarding career pathways, reachln8 young people who have fallen out of the system for whatever reason and, importantly, continued collaboratlon wlth our growlng network of Industry partners. De5plte COVID-19 related disruption ?t l>)th the be8lnnlng and the end of the year, l am dellghted to report that Construction Youth Trust reached over 18,000 youn8 people and supported nearly 1,700 on lon8er-term programmes In 2021. Once agaln, our network of partners has been cruclal to our success. Overall, nearly 700 industry volunteers and role models supported the Tru5t'5 actlvltles and programmes in 2021. The support recelved has been extenslve and varied, ranging fiom inspiring site visit5 lo transformatlve skllls-bulldin8 masterclas5es. Whether you have funded our work, volunteered, mentored, or helped connect a young person to a posltlve next step, I cannot thank you enough for your support. Glven the Ilkely Impact of the recent dlsruptlon on the lon8-term employment prospects of young people furthest from the workplace, I wa5 particularly pleased with the launch thls year of 8uildin8 Opportunltles. This Is our new pro8ramme almed al supportlng young people who are NEET (not In education, employment or trainin81 get on track Sn flnding rewardinB employment, well-matched io their individual 5ki11s and Interests, In construction. Recognlslng that quick-flx Snteryentlons are unlikely to achleve sustainable outcomes for those young people who face the most significant barriers, Building Opportunities takes a relatlonshlp-based approach centred on developlng trust through 1-2-1 coachlng and support tallored to each youn8 person. The early signs are very encouragln8. In the first twelve months, we supported nearly 50young people to achleve a meaninBful employmenveducatlon outcome and helped 69 to achleve the Level i Award In Health & Safety in Con5trurtion Environment. I would, of course. also Ilke to pass on enormous thanks to my fellow trustees and everyone who works for the Trust. Throughout a busy and sornetime5 tumuliuous year, the team has never faltered In our efforts to deliver positSve outcomes for young people. As we now move forward Into the second vear of our Business Plan, I know we wlll continue to go from strength to Strength. 518ned by the Chairman. R Edward T W McAlpine EhJ Mg1L Date..
Objerts The Trust's Objects are to.. Create, support or facllitate programmes of educatlon. learning, trainlng or employment in the context of the construrtion and built environment industrie5. Improve the conditions of life for young people in the United Kingdom and to overcome barriers to their education, learnin& trainin8 or employment arising by reason of their youth, disability or economic or social circumstance, with particular reference to the skills of the construction and built environment industries. Educate, traln, asslst and facilitate such individuals or groups to develop thelr physical and mental capacities and skllls. Vision Our vision is a Construction and Built Environment Sector that drlves soclal mobility and delivers soclal value bv inspiring and enabling the diverse youn8 talents of 21st Century Britain to overcome barriers and bulld better futures, Mission Our mission Is to Inspire and support young people to achleve thelr full career potentlal, with a priority focus on young people from disadvantaged backgrounds, underrepresented 8roups who are1Skely to mlss out on opportunitle5 and/or those facing barrlers to employment. We do this by connecting young people directly with a wide range of employers, careers and opportunities within the Construction and Built Envlronment sector and supportin8 young people to overcome barriers and take the next step on thelr Journey to a Successful and rewarding career.
Overview We are delighted to report back on the first year of our 2021-2024 Business Plan. Ourwork as a charlty has never been more important, 8Sven the dlsrupting impart the COVID-19 pandemic has had Dn the education and employment PfOspect5 Of the younger generation, especially for young people alreadv facing significant dlsadvantage. With the huge ranBe of both traditional and modern roles now on offer, the Construction & Built Environment sector has the potential to act as an enormous en8lne of Social mobility. We help youn8 people to recognise their potential, develop their confldence and skills, and discover opportunities that have never previously been presented to them. Through our lonB-Standing1inks wlth constructlon employers, we connect young people dlrectly to relatable role models, work experlence placements and, ultimately, employment, tralning and education opw)rtunities. In 2021, Construction Youth Trust reached 18,444 young people, supporting over 1,622 on lon8er- term pro8rammes. To maxlrnlse our Impact supporting young people to overcome disadvanta8e and achleve thelr full career potentlal, we contlnue to bulld on the key strateglc prlorltles Set oul on our 2021-2024 Buslness Plan- Place-based we work in concentrated 'hubs', rnaxlmSsSn8 the benefit we offer young people. bv Investing in lon8.term rel?tionshlps with local stakeholders in each of our target areas. Our crileria for Investing in priority hub areas are 11 clear communlty need le.g., a borough wlth hlBh youth unemployment), 21 a pipeline of constructlon projects, and 31 potential for sustalnable fundlng to 5UPPOrt lon8-term investment. Currently, we have established hubs in the following nine areas.. Westminster, Hammersmlth & Fulham, Kenslngton & Chelsea, Lambeth, Southwark, Tower Hamlets, Barking & Dagenham, Lewlsham and North Kent. Partnerships wlth schools and colleges- bulldlng long.term relatlonshlp5 Wlth schoo15 and colleges15 key prlorlty. We target Instltutlons with high nurnber5 of d15advanta8ed puplls In our hub areas. Our aim is to ensure local schoolslcolleges and young people do not mlss out on the opportunltles created by the regeneratlon of thelr own nelghbourhoods. In 2021, we worked wSth over 60 schools and colleges across our hub areas. Reachin8 young people who are Not In Educatlon, Employment or Training INEETI 5UPPOrtlng unemployed young people to get back on track Is a cornerstone of our place-bgsed approach. We work closely with our local partners to Identify and en8a8e youn8 people who face slBniflcant barriers to workinB life. In collaboration with each youn8 person, we create Individual Action Plans to build on their strength5 and interests, explore their career goals, and a8ree actionable plans to achieve those goals. In 2021. we launch our new programme, 8ulldinB Opportunitie5, pilotin8 an innovative 'relaiionshlp-based' approach. The Inttlal result5 of thls pllot our outlined below. CollaboralloTh wlth Industry- we work In c105e partnership with industry to ensure our programmes are demand-led and grounded in real world experiences and opportunitles. Through our ernployer partners, we provlde volunteers and role mode15 for our young people, sfte vlsits, work placement5 and ultimately pro8ression opportunitie5.
Throughout the year, we achleved our mission by deliverin8 the followin8: Partnerships with schools and colleges l. Employer Engagement5- thls Is the foundation of our work wlth schools. Through employer-led artivities, such a5 Apprenticeships Q&As, slte vlslts, and employability masterclasses, we relate what Students are learnin8 in school to potential future careers and help them to develop skllls and employablllty. 16,822 young people reoched through employer engagements ond aworeness- ralslng actlvities,. 253 industry volunteers gave 534 hours of time. 2. Transition Programmes Immerslve programmes targeted at youn8 people approaching key transltlon polnts In thelr educatlon journey le.B., puplls approaching their GCSESI. Our programmes give young people direct experience of the world of work, combined wlth employer- led ernployability support, and skills building that levels the playinB fleld for youn8 pIe facing d15advantage. 733 young people supported on immersive world-of-work progromme5 3. Targeted Support - for pup115 who face the greatest barrlers, we offer longer-term, intenslve Torgeted Support. We work wfth schools & colleges to Identlfy young people who are at risk of falling into NEET status when they leave school/college and offer 1-2-1 coachlng and employer. led Interventions. We build the young person's confidence and over an extended perlod, wlden their career horlzon5, and help them make a succe55ful transltlon, 448 young people supported on Intenslve fÈ7rgeted support progrommes Reachin8 young people who are Not in Educatlon, Employment or Tralnlng INEEri 4. Building Opportunitles - In 2021, we launched BuSldlng Opportunities, a pro8ramme almed at 511PPOrtlng unemployed young people into meaningful EET opportunities. We take an intenslve 'relatlonshlp-based' approach centred on nurturlng long-term trusted relationships wlth youn8 people. We provide 1-2-1 coachin81 employablllty support, facilitated introductlons to local employers, and opportunities to ittain a Level l Heahh & Safety quallficatlon and CSCS cards. 125 young people engaged on theAlrst phose of the Building Opportunlties project. In 2021, 47progressed into EETopportunltie5 and 69 were supported to achieve the Level l awurd in Heulth & Sofrty in a Con5tructlon Environment.
Partnerships with schools and colleges In 2021. we engaged 61 schools and colleges across London and North Kent. Throu8h Employer Engagements, Transition Pro8rammes, and TarBeted Support we reached over 18,086 young people and facilitated encounters with 673 volunteers, from 153 different employer partners. The aim of our work with schools and colleges is to empower young people to make well informed career choices, level the playing field for disadvantaged and underrepresented groups, and offer high- level support to high-risk young people to prevent them from becomin8 NEET In the flrst place. We wlden career horizons and challenge stereotypes to prepare students to make career choices well matched to thelr interests and abilities. We deliberately target schoo15 Wlth hlgh numbers of dlsadvantaged pupils in our hub areas. Our alm Is to ensure young people do not miss out on the career. training and employment opportunities created by the regeneratlon of thelr own neighbourhoods. We offer a comprehensive range of seiceS and conduct a formal needs analy51s of each schoollcollege In order to create a bespoke pro8ramme tallored to the needs of each sttsdent population. At the core of our approèch is the reco8nltion that Short, one-off Interventions are unlikely to achieve sustalnable outcomes for those young people most In need. Thls has led us io dlfferentlate, matchln8 the highest level of support wlth Breatest need. WhSle we engage wlth a si8nificant number of young people, we target our most intenslve and lonBer-term support towards the youn8 people facing the most slgnlflcant barrlers as demonstrated bv the dla8ram Irl8htl. Trdn5ft10n Pro8rammes Employer En8a8ement Is the foundatlon of our work with schools and colleges. Re5eirch tells us that young people who meet four or more employers whilst at school are 5l8nificantfy less likely to be NEET and more Ilkely to have Increased future earning potential. Forthls aSOn, we leverage our extenslve employer networks to facllitate meanSngful employer-led en8a8ements in all our partner Schools and colle8e5. In 2021, through actfvltles such as Hidden Careers and Step Into the World of Engineerln8, we reached 16,OCQ+ young people. All the sessions we dellver have been designed to help young people understand the built environment sector, and the breadth of career5 on offer, so they can develop a5plrallonal career goals well suited to thelr interests and abilitles. The support of our Industry partners is vital to our abillty to deliver this aspect of schools and college pro8ramme; last year 253 volunteers from 72 different companies, gave 534 hours of time and supported 379 diffenI activities. We measure the impatt of employer enga8ements by asking youn8 people and volunteers to complete self-pOrt evaluation questionnaires at the end of each session. In 2021: 78% of youn8 people improved thelr knowledge of careers in the construction and the built environment 84% of volunteers a8reed that activities helped young people develop 50ft skills le.g. teamwork, leadership. presentation skills etc.)
We offer a range of Immersive Transition Programmes to youn8 people approaching key transltion point5 in theSr educatlon journey for Instance pupils approachin8 their GCSES, young people completing Further Education courses, or Slxth Form students. They give young people experience of the world of work, combined with employer-led employability support and skills building that levels the playing field for young people facing disadvantage. We work with our school partners to encourage partlcSpatlon from young people who are most likely to mlss out on opportunities andlor who are typically underrepresented in the constructlon industry. In 2021, 733 young people took part in Transition Programmes. 87% of participants reported an improvement their knowledge of careers in the constructlon and the bullt envlronment and 88% reported an improvement in their soft skills le.g., teamwork, leadership* presentatlon skills etc.). Case Study.. Work Emperience Pro8ramme The COVID-19 pandemic and UK government lockdown measure5 meant a whole generation of students mlssed oul on work experience opportunities. In response, we developed a week-long Work Experlence Pro8ramme that brlngs the workplace to student5. The programme Is a microcosm of a week in a real professional team- youn8 people take on speclfic career roles within the construction Industry and create thelr own mini-tompanles, workinB towards a bilef set by an external cllent. Over the sumrner of 2021, we plloted the pro8ramme in one of our partner Schools in Lewlsham. To see what a posltive Smpact the programme had, please watch the followln8 vldeo: htt www. outube.com watchh=NkV2 8u4WR Notably, desplle the return of return of face-lo-face work experlence placements we are still seelng a real need lor our Work Experience Pro8ramme, Schools are feedin8 back that 50rne harder to reach voung people are not always ready to go straight into an in-person workplace experSence. As a result, we have seen a contlnued demand for the programme as It enables young people to take part In an immersive world-of-work experlence whlle staylng In the School envlronment they are famlllar with and comfortable in. 'If you're just walking by a construrtion site and you see all the workers laying out the bricks and stuff you're going to think 'construction Is such a simple thing,, but actually working on it and doing it for yourself, that'5 what opens your mind and makes you realise that not everythin8 is as simple as It seems1. _ Student
For pupils who face the 8reatest barrier5, we offer longer-term, more intensive Targeted Support. We work with schools to identify youn8 people who are at rlsk of falling into NEET status when they leave school an(1 offer 1-2-1 coaching and facilitated introductions to EET opportunities over an extended period. We build the young person's confidence and aspirations, widen theircareer horizons. and help them make a successful transition on to a meanlngful next step for them. OUT aim is to intervene early while youn8 people are still in full-tlrne educatlon, so they do not become NEET in the first place. We believe this 15 SO vital as young people who don't make an initial posStive transition are hi8hly likely to end up In a long-term cycle of unemployment. Research shows that 75% of young people who are NEET for three months end up stuck in a 'NEET trap, for over a year Ilmpetus 20191. Last year. M8 young people started the Targeted Support programmes across our hub areas. 75% of voun8 people who completed the programme in 2021 progressed into EET opportunities. Case Study: Luke Luke. had been Identified by hls teachers as being at-rlsk of becomlnB NEET after Year 11 and as result enrolled on our Targeted Support programme In September 2020. When we flrst met Luke, he was unsure of hi5 next steps and worrled about what he would do after he left school. He knew he was Interested in engineerin8 but didn't feel he had the rl8ht skills to progress Into a relevant lob or tralnlng opportunlty. To support Luke, hls Coach worked wlth hlrn re8ularly to develop hi5 own Individua115ed Actlon Plan, helpSng hlm identify his strengths and Interests. They explored dlfferent career pathways and after re5earchlng the options, Luke decided the apprentlceshlp route wa5 best sulted to his way of learnln8. Luke worked on hls CV during 1-2-1 sessions and he and hls coach talked through exactly what to expect at an intervSew, including what to wear and what questions to prepare for. Through the pro8ramme, Luke also had the opportunity to vislt a working construction site and to talk to varlous indu51ry professionals about their roles. As hls confldence and employabillty skills grew, Luke began to apply for engineerln8 apprentlceshlp opportunitie5 Wlth the 5UPPOrt of hls coach. By ihls polnt, he was Sncredib Motivated and quickly Worked hls way through applicatlon5. Through cyr, Luke was invlted to an assessment centre and intetview for an apprentlceshlp at a well-known property company. Although netvous. Luke quickly settled into the inteNlew, especially after the Interviewer explained they had been through the exart Same process themselves. Our employer partner was so Impressed wlth his passlon for the construction Industry that they created a bespoke role for him and have committed to developing hSm professionally once he has attaSned hi5 functional skills. Luke's coach has contlnued to work with him and supporting hirn to start a functional skills college course. Overall, we are delighted with how far Luke has come, and arethrilled to report ihat he recently fed back to hls coach that he is enjoying every aspect of his new jobl Name changed to protect anonymity
Reach•ng young people who are Not In Education, Employment or Training (NEET) Bulldlng Opportunltles Supportin8 unemployed youn6 people to get back on track has long been an Important prlority for Constructlon Youth Trust. In recognition that short, one-off interventions are unlikely to achleve sustalnable outcomes for young people facin8 significant barrSers, in 2021 we launched a new relationship.based pro8ramme, Buildlng Opportunltie5, cenlred on 1-2-1 coachin8 and on80ing employer en8a8ement. Instead of Imp05Ing pre-determined start and end points, we offer a'folling, pro8ramme that make5 it possible for a young person tojoin us when they feel ready and move forward at theirown pace. We support youn8 people for as long as they need to achieve a meaningful next step. Integral to our approach Is the creation of Indlvidual Action Plan5 IIAPI based on Snterests, strengths, and goals of young people. All plan5 are bespoke and tailored to the needs of each young person. They Include: ErnployabllSty svpport. Includlng employer-led CV workshops and mock intervlews World-of-work experiences such as slte-vislt5 & practical tasters Supported Introductions to local opportunitle5, e.8., local employers, FE/HE provlders Levèl l Health & Safety and CSCS card trainin8 where if levant On-golng post EET support to ensure progresslon is 5UStained In 2021, we engaged a total of 125 youn8 people IIOO% of whom showed Indicators of dlsadv4nta8e'l, supporting 69 to achleve theSr Level l Award in Heakh & Safety In a Q>nstructSon Envlronment. By the end of the year 47 had progressed into EET opportunities, wlth 53 youn8 people still recelvln8 SUPPOrt. "Constructlon Youth Trust has helped kicksturt my career In the constructlon industry by eLlucating me obout the Industry. Whilstdolng so, they hove helped me with my Heolth ond Sofety Level l ond my CSCS cord. Tljey tslso provided the opportunitH to work permt7nentlH for o construction compony where I have been worklng for over a month. It h(7s been challenging but very insightful ondfun. I con't wait to see how my coreer develop5" Ben¢fl¢lary of the NEETS programme l For e¥ample. history of exclusion. homelessness, previous gang Involvement etc io
Case Study.. Kelvin's. Story We first met Kelvln In September 2021,. he was referred to us by a Southwark ernployment cenlre. Kelvln Is a driven young rnan with a passion for construction. He had previously tomplete(i a Level I Engineering course at college and wanted to ptsr5ue an electrical engineerlng apprentlceship but needed sorne additlonal supwrt wlth accessing the industry. Upon meeting Kelvin, we quickly matched him with a coach from our Southwark team. Together, thev talked through his 8oals and worked on developin8 an ambitious Indlvldual Action Plan to P pare him for the world of work and help secure an apprenticeship that he had long hoped for. While on the programme, Kelvin completed our Level l Health & Safety course and attended a number of employability sessions, including CV and application rnasterclasses and mock inteIewS. He a150 attended a 5outhwark careers fair, where he was able to meet various trade professlonals. lalk to them about their experlence In the Industry and ask them for advlce on how to get an apprentlceshlp. It was essenlial to get Kelvin hls CSCS card, so hls coach helped hlm revlse for the CSCS test. Kelvin also attended one of our 'Live Vacancies, events. It wa5 durln8 thls session that Kelvln found the electrical engineerlng apprentlceshlp he was hoplng for. With the help of hSs CYT coach, he prepared and sent his appllcation, and was Invlted to the asseSSTnent centre. A few weeks later, Kelvin secured a full-time apprenticeshlp posltionl Kelvln starts hls apprentlceshlp In August. We cav8ht up wlth him recently and he was very excSted about hls futurel *Name chan8ed to protect anonymltv °Before I came ocross CYT, Ifelt like a lost 50uI wlth no dlrection. I knew I wonted o job in construction but didn't know how to get Started. I wos tired offulse promi5esfrorn other compGnie5 thot sald they would help me. I bu5ically gove up oll hope until I recelved a phone cullfrom Tony [Kelvln's CYTcoach} thtst thonged my Ilfe. As soon as he got in contoct with me, he stortèd helplng ond glvlng me guidance and mentorship by oiding me with acquirffjng a CSC5 cord os promised. I wa5 very impressed by the proles5ionallsm of the Lirgonisatlon. Whut's even better is thot he didn't stop there,. he was determined to help me find an opprentlce5hip t7s well. Honestly, I've nevermet such omozing sou15 driven to help others until they are set upfor life. Other orgonisations would've just left me on my own once I got the cord, but not cyr. I love working with them becouse they olwcy5 hove my best Interest Gt heort, which mokes them eosy to trust und mode it easier for me to believe in myself Ibect7use they dld tool} which led me to this wonderful opprenticeship" li
Structure, Governance and Management Governlng Documents The Trust Is constltuted a5 a charltable Company Limrted by Guarantee and, although operatln8 as a charity since 1961, It was formally constltuted as a company under Memorandum and Articles of Association on 14 June 2002 as Construction Industry Trust for Youth. It created the working name of Construction Youth Trust in 2CfJ4. It has no share capltal and Is a reglstered charltv. Recruitment of Trustees Recommendations forthe recfultment of new Trustees are overseen by the Nominatlons Commlttee, commlttee of the Board of Trustees, in the first Instance. The Nomlnatlons Committee carrles out a review of the skllls and experience of the current Board and, takln8 Inlo account impendin retlrements, establishes a set of prioritles for the recrultment process. Trustees are Invlte(I to put forward su88eslion5 lo meet these priorlties for conslderatlon and due dillgence by the Nominatlons Committee. All appointment5 are referred for approval by the Board Sn accordance wSth current best practice. Trustee Indurtlon and training New Trustees underyo an orientation sesslon to brief them on their legal obll8atlons under ChaTItv and Company law, the content of the Memorandum and Article5 of Associatlon, the declslon-maklng process, the buslne55 plan and recent flnancial performance of the Charlty. In additlon, new Trustees meet key staff and other Tru5tee5. New Trustees are encouraged to undertake approprlate tralnln8 which will facilitate them In tsndertakln8 thelr role. On8oln8 IraSnlng Is provlded for all Trustees as Yeqljired. Organlsatlonal Structure Constructlon Youth Trust Is governed ty a Board whose members are the Trustees of the Charity. The Board meets quarterly and 15 responslble for the strategy of the Trust, 8ood governance and the upholdlng of Its obletts. The Board delegates more operatlonal matter5 to the Resources ènd Governance sub-commlttee who port back to full board quarterly. The Chalrman, Chief Executive OffScer, Joint Heads of Programmes and Head of Central Resources are In attendance at the Resource and Governance committee. The Chalrman and Chlef Executlve Officer are Invited to attend the Nominations Commlttee as approprlate. The operatlonal actlvltles of the Trust are managed by the Executive. The quallty and effertlveness of the Tru5t'5 pro8ramme5 Is overseen by the Resources and Governance Committee Sn accordance wlth Terms of Reference and dele8ated power5 agreed by the Board of Trustees. Key personnel pay and remuneration A pay review takes place each year and 15 overseen by members of the Resource and Governance Committee who make recommendations to the Board. Pay awards a based on any annual cost of livlng increase approved by the Board, individual performance in the role, market comparisons and affordablllty. 12
Related Parties The Trust monitors related party transactions by requiring all Trustees to complete a declaratlon of Sntere5ts form. In 2021 the Trust identified a numberof related party transactions which the Trust has reported within the 2021 published accounts. Further details are dlsclosed In note 7 of the financial statements. Major Risks The Executive manages and malntalns a register of all known major rlsks. ThSs is updated and reviewed on a re8ular basis by the Resource and Governance Committee and the Board and Includes appropriate mlti8ation agalnst a rlsk occurrlng or action to be taken should a risk occur. The Trust has identified a number of risks to the or8anisatlon includlng key risk5 whlch are glven In the table below. Key Rlsk Mitigating Ydetion8 Insufficient funds tu implement long-terni strate ProACtiv¢ fund.raising sirate Closc monitoring of progress a8Ming1 objectiVCB Focus on partnership buildin Careful review of pricing model to lake into Kc¢)uni likely infl4tionary in¢reases Mr Russell Taylor appointed as D¢signat¢d Trusttc with SplfIC fcguarding responsibility Rcvi¢w policics annually Safeguardin8 and Health & S&fety trAirting for all staff PrO-tIve fegUardIng tLam and s¢&ff working group establighed Strengthen rnan&8cm¢nl structure to redu¢¢ relian¢£ on a small nUmr ofslotT Close monitoring of pricinx strategy to ensure costs are odcquate Quarterly review of slaffin¥ by Resources & Governance meeting to PTe•empl any issues Sofeguarding andlor Ilealih & Safety f4ilurL'S iA)$5 of Key Andlor inability lo recruit suffi¢i¢n¢ qu4lity sthtrto meet business requir¢ments at 4D affordoble cost Failure io meet rund¢rslcontractual obligations Close monitorin8 of performance against contraclu&l Key Perfomi&Th¢¢ IndicAtors. ov¢rviewed by CEO Ovtrsi¥htofany wntra¢ts over£50,OIX) by the Resourcc & Govcrnan¢e Committee Cyber security; Bu$ine83 continuity in evLni of IT failure Bxt¢mally managrd, ISO 270011T provid¢T. Stren%ihened aUthentition controls Cyber Essentials ¢ertification bein8 ¢wrried out Robust induction 8nd traEning of 5thff Public Benefit The Charlty's Trustees have complled with the duty in the Charities Act 2011 to have due regard to Public Benefit 8uidance published by the Charity Commi55Son. All Trustees gave thelr time voluntarily and received no beneffts from the Charlty. No Trustee reclaimed expenses from the charity in the current or prior year5. 13
Financial Review Accountlng Pollcies The Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI 'Accounting and Reportin8 by Charities IFRS 1021, issued in 2019 in preparing the annual report and financSal statements of the charity- Results for the year The total income for the Trust In 2021 was £1,533,11412020'. £1,282,179) including donatlons in klnd of £14,26912020: £61,602). The overall surplus for the year was £208,54712020 5urplus.' £237,713). Reserves At the end of 2021 the Trust had a total of £619,361 free reserves, not includin8 £356.615 of Tru51ees' designated funds. To protect the charlty and Its charitable services against rlsk, the Trustee5 have a8reed a pollty of holdin8 a minlmum of Six month5, operatln8 Costs as reserves, made up of both the free reseNe and the desi8nated fund5. Desl8nated funds are funds set aslde by the Trustees to cover future delNery of ex15tln8 projects an(1 commitments. The Trusiee5 conslder havlng at least 6 months fundin8 secured 8lves the Trust sufficlent scope to reswnd to a changing thhdlng landscape and to ensure the orderlv management of any unplanned closure. However, the Trustees have agreed that a close monltorlng regime will be put in place If, wiihln the 6 months policy, the free reserves fall below 4 months, opeTatin8 Costs. The free reseryes at the 2021 year end represent the equivalent of almost 6 rnonths, operatlng cost5, whlle the free reseryes and des18nated funds comblned represent the equlvalent of 9 months, operating costs. Investment Pollcy and Performance The Trustees, Resource and Governance Committee has considered the most appropriate pollcy lor investing funds and has over the year aged to continue to spread Its Investments to reduce risk. Its funds are currentty Invested In a combination of COIF Charlties Deposlt Fund, a flxed term account wSth Vir8ln Money, 125 day notice savings account with Nationwlde and a CAF 12 month fixed rate saver with Shawbrook Bank. in addition to the cash held at the charlty's Lloyds Bank Current Account. Plans for Future Perlods Construction Youth Trust has developed a new 3 year Business Plan12021-20241 which, by the end of the plan, alms to: Build effective and sustainable place-based 'hub5' In at least 10 area5 affetted by multiple deprlvation with an anticipateil high demand for cunstructlon related skills 14
Engage 10,Crf)O young people a year, through meaningful employer engagement and Insplrational world-of-work and career sessions Recruit 81x1 youn8 people a year on to an industry-led Transitions programme that develops their work-readiness and supports them to achieve their career aspirations* priorltlslng yotsn8 people most likely to mi55 Ollt Offer targeted training & support to 4C(J young people a year who are still in school or college but are at significant risk of not making a Successful post-school transitlon Offer intensive casework-led support lo 400 young people who are NEET Inot in education, employment or training) to help them overcome barriers and progres5 towards a 8ood lob Thls report ha5 been prepared In accordance wlth the speclal provislons of the Companies Act 2CM)6 relatlng to small companle5. Statement of Trustees, Responsibilities Company law requires the Trustees to prepare financial statement5 that glve a true and fair view of the state of affairs of the Charity at the end of the flnancial year and of its surplus or deflcit for the flnanclal year. In doing so the Trustees are required to: Select sultable accotsntin8 policies and apply them ¢on51stenilv Make sound Judgements and estlmate5 that are reasonable and prudent State whether applicable accountln8 Standards and Statements of Recommended Practlce have been followed subject to any material departure5 disclosed and explained In the flnanclal statements Prepare the financial statement5 on the 8oln8 concern ba515 unless It bs Inapproprlate to presume that the Charlty wlll contlnue In opeiatlon The Trustees are responsible for malntalnlng proper accounting records whlch disclose wlth reasonable accuracy at any time, the finonclal posltlon of the Charlty and enable them to ensure the flnancial statements comply wlth the Companles Act 2LYJ6. The Trustees are also responslble for safeguardlnB the asset5 of the Charlty and hence, for taking reasonable steps for the preventlon and detection of fraud and other Irregularities. Statement of Dlsclosure of Informatlon to Audltors. The Trustees of the Charity who held office at the date of approv?1 of these Financial Statements, as Set out above, each confimi 50 far as we are aware, that: Therels no relevant audit informatlon of whlch the charity's audltor5 are unaware: and We have taken all the steps that we ou8ht to have taken as Trustees in order to make ourselves aware of any relevant audit information and to establish that the charity's auditors are awa of that information. Approved by the Trustees and signed on thelr behalf by: R E(Iward TW McAlpine, Chairman Dated: 15
CONSTRUCTION INDUSTRY TRUST FOR YOUTH Indo •nd•nt auditor'• io tho m•rnbgrs of constru¢On Indu• TruBtlorYouth Op110 We have audrted the financial ststements of Consiruttion Trtl For Youth Ithe 'charlty'l for the year ended 31 December 2D21 whlch comprlse the siaiementof FIA8ncial Attmties. the Balae Sheet. the Staiemenl Of Cash Flows and rteS to IhE financial 51aletnEnl5. applitablÈ lèw and Unlted Kln8doffl Accounrin8 Standaid5, Includln8 FRS 102 "The Financlal Rewrtln6 Standard p1(ae In the UK and RepuL4lcof lielan(r Iunlted Kiwdom Génér311y Accepted Accountln8 Pfactitel. 8lve atrue and falrvlewoltho state ollhetharltW5aHalrs 35 at31 Decernb2r 2021 al0f Its Incorno and exndItre for the yearthen ended., have oeen properlyprep3red ID accordancewith Uniied KIOrn GeTrÈFally Accepted Accouniln8PracllcE.'and have been prepared In accordance wlth thefeqvlrernI$oI the CompaniesACI 2(5. Blililor oplnlon urQer those standèrds are further déseribed In the Audltorfs re5W>nbl1lthe5 lor the audli ol thÈ financial siaiemeThis sectloD of our report. we are IhdepeThdent of the chèrit¥ In accordance with the Èthlcèl rèquliemen15 Ihal are relevant tD our audit of the financial statemenis In the UK, includln8 the FRC'5 Ethical Slindard we have fulliiieij OUT other ethical responslbllllles In accordarKe wlth fhesi feoulfÈmenls. We believe ihat the djdlt Èvlden¢e we haye L)tèlneé 15sulflclentand approprlJi¢ i¥provlde4 bJs1sfw our OpInO. COlUllDl rel•lknKtoBo1 conc•1 In aLKtlllngthe Ilnaniial 5tatemenis, we h8ve tortluded that the Irusiees, uie ol Ihe goln8 concern baslsof ac¢ovniin& In the Fyeparallon ol 8a5ed on the work we ha¥e performed, we bave not Idèniif4Ed any rnaterlal urKertalntles relln6 to events or condlllons that. Indlvldually or collectively. may ca5151Kniflcant doubt on the charity's ablllty to contlnue asj 8olnB conce¢n for a rd ol ai Itast twelve rmnths Irorn Our responslbllllles and the reswslbiihies ol the Iru5tee5 wlth re5yd to 8olw £orKern ¥e dexrlbed In the relev8Dt seillons of thls report. OLh•rlThlorm•tboTr The trtheT Inloimatlon compilsesthe Inlormatlon included In the annual reDori. othei than the Ilnandal stalernent5 and ouraudllOI'5 report thereDn. The trusiees afÈ responsIb IDr the other Snlorrnallon. Our cpinlon on the financlal $tatement$ dots not cover the other Inforrnatlonjnd, exttpt IO the eiteni Olhtrrwiseexp11cllly st¥ted In our repDrt, wedo 1 express any lormolèssurarfe<onclu51on ltterwn. ity tonnectlon wlth our audlt of the flnèrKlal statements, our Fesponsiblllty Is lo read the othei Inf¢irnaiion and, in i)In8 50, conslder whether the other Informatiort IJ malerlally Incon5151enl wllh the flnanclal statennts or our kwwled8e cl)lalhed In the course Of ihe audll, oi olherw15e appear5 to b2 rnaierlally m155tated. If we Identlfy such matedal Incorslsien(le$ or 3pparent mateilal ml55tatemenis, we 3re Infomallon. If, basèd on the work we have perfofmed. we conclude thatthere Is a materlal mls$taiemeni of thls other inlotmatrf)n, we are requId ioreport that fact. We hav• nothln8to ieport In Ih15 regard. OnIOn$00ther mtternweKilbed byih• ctymp•ISA¢f 11)36 ouroplnion. based on the work undertaken Inthe coulseol the alt.. • the Inlormatlon 8lven In theAnnual Reportof theTru51ees ¥vhth Include5the Direilor5' Reportprepared Iorthe purpDses DI cornwnylaw, for the Ilnanclal yearfor whlihthefinancL41 statement5 are prepared Is cOnslstentwh the finan(1•15tatErneTrts,' nd the Dlrectors, Report InclLkled wlthlntheAnnual Report of thoTrustees has been prepared in ac¢ordancÈwlthappllcable le8al requlrements. 10
CONSTRUCTION INDUSTRY TRUST FOR YOUTH Indgpgnd•nt audltor6 re rt to tho rngrnbern Icontlnuedl M•tternon thlch we ar• r•qulr•dto report byemteption In li8hi ol the knowl8@ and understandin8 of the charity and its environment obtsined in the course ol the audi¢ we have not identlNed matèrlalml55tatementsin the Direttors, Report included within the Anntsal Reportof the Trustees. We have nOrh5 ro reporr In reSpt of the followlw Mat(s in relatbn to which the Companies Art 20C6 Nuire5 US to report ¢0 you rf, in ouroplnlon.. adequ3tÈ and PToperaccountSn8 rewrdsh3¥@ not kppt, or return5 adequa forour audlt have not been re1ved from branche5 notvlsiied by us. or the flnancial st3temenis arÈ not in è8reemenl with the accoutllln8 re£oidsand rÈturns,' tr certain dlsclosuresol iru51ees' remunerarion spoclllc by law are not rnade., or have not received all the Snformation 3nd explanatlQn5 we require lor our a51.. Of the trustees were rK)rentilled 10 prepare the financial statemenis In accordancewlth the Sm311 Companies reBlrne3rid tèke atfvanta8eol the Small Companles, exemption In prepadn8 theAnnual Report of IheTru5reesand from Ihe reouirementto preparè a Strate8ic RepDrt. RespDnibl1t1IsofTrnt• As exolained more ful In the iivsiees, $DOnSIbIlItIeS statement set oui on pa8e 15, thE trustees (who are a150 Ihe dlrectors ol ihe charllable cornpaw lor the purposes of compan¥ lawl are respons1ble fof the prepir411on otihe flnanclal statement5 and for belw sètlslied that they a true and f41r vlvw, and tor such Internal control 35 the trustees detemilne Is nece5sar¥ 10 enable the preparation of Ilnanclal Statent$lhat are Iree from material m1$51atement.wheihÈrdue to fraud or orror. In prepèr4w the Ilnan¢lol statements, thetruttee5 a re5ponslble for assessiw lthe tharitV'5 abllliy 10 contlnue as a 1n8¢OnCern, d15closSn as applicable, matters related to 8oln8 concern and usln8 the 8oln8 concoln ba5Is ol accounllns unlos thè Irusrees elfher Intend 10 Ilquldate Ihe charify Of to cease operatlon5, or have no re311siic alternatlve but iodD 50. Audltorfs r•sponslblllt1•5 lorthè •udltof th• fln4ntlil it•t•ments Our objectives are 10 obtain reasonable 3ssvrance about whether the flnancial statentS as a whole ar trom maip.rlal mhs13iem1, whether due lo fraud or error. and 10 i55ue an audltor's rewrt that include5 our opinion. Reasonable assu¢ance is a hi8h level of assurance but is not a Èuaranlee thai èn adi1 Condwted in accordance wlth ISAS IUKI wlll always dtiect a rnaterl31 mis5tatemeht when It ex15ts. Mlssiatements can arlse Irorn fraud oc error and are considered mer131 il, Indlvldually or in the aure6atè, they could reasonably btt expected to Influence the economicdeclslon5 01 users iaken the ba515 of the linan¢ldl siaiements, 2011, UK tax legislatlon, pensions le81slion, emen1 regulatlon and health ahd Safety regulation. anii-bribery. coiruption and fraud, morey launderln8, non-compliance wllh Implemeniaiion of go¥ernmenl support schemes felailn8 to COVIO-19, we consldered the extent to whlch non-iompllante ml8hi have a rnaterlal effe£t on the linanclal statements. We also consldered th05e13wsand re8ul3iions that have a dlre¢r Impact on the preparatlon of thè fnala1 ststements, SLth ès the Companles Act 2CQ6 and thE Charltles Slatement of Retommended Prattltt. We ew41uated rhe tru5tEes' and rnana8eTr*nt's IntIVeS and opporiuNkiti lor fr3udulent manipulation of the flnanclal $t31ement5 Ilncludin8 the sk of overrldtr of conirolsl and deiermin@d Ihèi the princi1 rI5k5 were related 10 t4)stlng manual lourrbal en¢rles to manipulate flDanclal performallce, management blas through lud8emems and assumptK)ns In nIfIcant accountlng estirnale5,1Th pamcular In r4aiionto use of re5trltted and endowmentfunds. ènd sl8nlflcant one-oflorunusual tran5artions. Our audit proc@dures were desi8ned to respond to Ise identified rlsks Includin8 non-compllance thI85 and regulatlons (Irregular125) and fraud thatare matwlal ro Ihe Ilnarfl31 st3tement5. Our aud proceduresincluded tt were not Ilmitedto.- OIKusslng with Ihetru5tee5 and managementtheirpdlciÈs and procedure5re8ardingcompliancewlth law5 and re8ularh)ns.' ommunl¢atlDgidentified lawsand regulatknnsthr0v8houtoureagernentteaM and remainiDg alerttoany indic3tions01 non- compliancethrou8hout ouraudlt.. and ConsiderlnB the T15k cf ac15 bythe charlty which were Contrary ioapplluble13wsand regulatlon5, IlUdIn8 fraud. 17
Nicola Wakefield (Jun 12, 2022 22:54 GMT+1)
12-Jun-2022
CONSTRUCTION INDUSTRY TRUST FOR YOUTH St•hffl•ntolFln•ffl¢l•i forth• y•v•ndlrffj JI D•G•mbor2¢21 Futsd T Fw T4111 [1rA9rI1 50,110 14. 5D.11D Pl.919 ¢1,002 71.941 fji,W2 1,74A 1,ie4.Wl 144.Th1 1,112.410 l.J41 ,rA7 J?34F 341 144 I,ioi, l.J14,S17 1T4.MD 711.719 I,OlW8 Ta733 7W 716 4D.J 101,250 20B.S11 17,f441 aB.250 1.421 JJ,47P ,219 S4Y 315.Nll
CONSTRUCTION INDUSTRY TRUST FOR YOUTH Company number. 04461612 Balance Sh•et 0$ Ot 31 D¢mber 2021 Note• 2021 X20 Curr•nt A•Mts Short-lofm d¢pp¥it Cash al Bank and in 33.531 285,000 1.830.345 30.21S 1.510.452 2,148,878 1,540,667 Cr4dllo knounla falling One•r 10 I624,(2) 1224.3401 NET A8SETa 13.13 Unr8Jkt•d Funde Doslgnaied Fund• Rastrlcled Funda 619.381 356.615 548,Bg8 580,891 242,753 492.863 TOTAL FU14DS Th••• finand•l st¥tswl&We mred in r¢•r vllh th• wl•l Pro¢1 ofthe CL¥mponle4kt 2Q06 I1re •1 C4mp•. Th• Inancial 8tgt¢mwi¥wor•¥ppt0 by ty),........ 1..2022 W ¥gnod r#) th811 b•hNIIty' LJ R Edw•rd TW M¢AlplM ICh•lrnMnl
CONSTRUCTION INDUSTRY TRUST FOR YOUTH Statement of Ch Flows for th• ygar onding 31 Dec•mbér 2021 2021 2020 C••h pro¥ld•d by op•rntln9 *vIti 318.548 333.222 eAih flow• from Inv••tlny 4CtlvW Inte$1 ineome Ch flow• fmm Invvtlng a¢tlvltl•• 1.347 1.347 2,097 2,09 In¢rMu In c••h •nd ca•h •qulvalonts during th• year 319,893 335,319 C••h and c4bh •quiv¥knnl8 aj at 1 January 1.510,452 1,17S.133 rA8h and cJ•h oqulv•l•nt• M at 31 D•¢gmb•r 1,51 .452 vemon rovlded b a¢tlvltl•8 2021 2020 N•¢m0m•t In fund• 208,547 237,713 O•duct inter8•t incom• ghowfi in inve¥lin9 actwile8 Ilncf•&&eyDecre88• in &hort-tsm) d•posit• IlncreavDOcr088e in d•btcr8 Incre88ellDecr•a8•1 in ereditor• 11,3471 1285,0001 13,3161 399,882 12.0971 9e.754 N•tc4•h provld•d byOp•rnn9 a¢tl4TMI•B 21
CONSTRUCTION INDUSTRY TRUST FOR YOUTH Notes to the Flnan¢i81 Ststementg for the y•ar •nding 31 DeceMr 2021 A¢¢oyriiing Polkl•s Th2 PTincipal accounllng polldes &doptea, jth4gèrnent5 and key 80urcs of 8slfflallon uncertainty th the pp8ratIOn of tho fin¢1&1 &laterngnt5 are as loll¢w8'. 8•81• of•ccounithp The finan•o1 sljiemenls h•v8 been prepared under IhB Comp•nle6 kl 2008 and in attordanc4 wlth Ihe Char4ti8B Statameni ol Recommended Pr•clic8 Ichaillles SORP IFRS 102118rKI financial R8POrtlng Stsndard 102 IFRS 1021. The fin8ncl $iatsments re drawn up on the hS6tOflcal cost ba&ii ol Tre flnanaal 8tstements afy prepared In slerfing rOed to the nearejl pound. Con8lruclon Indty Truitfor Youth rn88ts the definOn 018 pthlK n8filentty under FRS 102. Ineom• Don6n& or8fttS 8nd1698Q8S Donations, qrants and 9ifls lincludlng 91e&l are Includ8d Sn Iho slatama of Fln•ndal Acti¥ttN83 ISOFAI the charity hajj onUIK9m8nl 10 the Incomè,11 IA prob8ble th8 Inco will bè r8c8l%d And Ihg amount of Income recNable c4n be reliably me89urod. Whero fundlng relatéd lo Ihe ¢ellry ol p8rtofmanc8 bythe Ghwrlly. Il Is recognioed only once th81 sp81ific performance has been delS¥er8d by fv rknanty Donated aerwces And fac11ll6 Èré induded Incorne and r81818d expendilvie whare th8 value lo th8 aflly ¢8n De Feuoonably qu&niifd. Tha value of proe by buslne88 are not Indudgd unl88B ts omployer pro¥ldfjd quan118bk8 88ilm8le¥ of ••Gh tmpk)yo0'5 Umo and rale6 ofp&y. OthwlKathny 8cti¥itles Incorne Irom Ncel 8alB8, coIW)ns Ind onB-off donalloni al thgnl d8y• •(• In¢lud•d In tho accounlo whon rncélv•blo. Ch8ilt8blo 8Clivitios ProjeGI spedfjc Income is r¢¢ognlsed when if ch•rtly become& CondItIoNlI¥ onli1d lo the fundSng. Whern lundino18 roL4ted to the dollryo1 p¢rfoftn8nc4 by thg thahty. recogSed only on delv•ry oflhal Jjpedfic perfomancè by th¢ ¢h•rily, 86nk Intéfesi B•nk Inttt&81 li Incl• on an acL¥uath ba8 a&11 b•cam•• r•c•1Vwb. C¢ffjnawruswb r8t8ntm scheme gov•mmént&Trant The Coron•viru• Job Rotenlion Sthnwj 9ranl Is recoani••d In Ihe which thD und•rWrvJ furlowhed Élaff r•iryt•. No lund• Fee8l¥ed In 2021 (£32,347 I81¥e In 20201 Exp•ndltw• Ey•th)dituw 114CUU8d 85 8oon 81 a Il•blltty b ¢on•ider•d prC4Jab, dlscounled lo prtsenl ¥•lu• for lonller tem IIAbillllei. R•i•nq Ivnds The direct co$1 of op•r•iin9 fuTrjra1ry 8%nt8 8ro InclLvJad on In ba611, excludlw arty ilaflor 0•d coil •lknca¥on. Ch2nlabts actswhes ChaAlabl8 expeThlitur• incl•1 411 coBl• Iu0d by proleth In ihè d•lwry of th0Sr ac1m16 •nd 8eNtes lor beneldad81. Thli Includes Ipecific oranls •nd bursanes, direct projèd optrrallgn w515 and an aPpOonmeN ol ¢entNI ilifT. office COBIB o¥erhedA Ib4o9d on 51aff Iifflel. C•niial 6UPPOrt cos18 are al80 IndUd In ¢h•rtMble a¢11• lo refiecl those èxpen#èJ th81 cannot be dlrecuy alloulgd 10 IndivKIu81 proi8Cts ThBse Include gener81 fundraising. centr81 rncruilm•nl & human re8ourc¥a, finance co$1$ 4dmlnl8tr411¥8 exp8n*i. Blon9 wilh aB¥oriato4 Blaff11rn8 8nd offlc4 cosis. Go¥einon¢• )ItB wre also Induded In ch4rttab •nd comprfBe the audll fur yaw. 22
CONSTRUCTION INDUSTRY TRUST FOR YOUTH Not08 to the Financlal Stat•ment8 for the ear •ndin 31 0Kember 2021 Fund8¢counllny Unfftstndedtrunds a av8[18b forusE al the dmCreon ol ihe Injstees f0rfiJrth8fnr8 ofthe 98noral oblath¥es of Iho th&rity Deswn8ted fvnés unieslrtl80 funds that ha¥ baen séi 85id0 tsy the InJBtO8S to enlurn ¢Jvli¥ery of exi8tirvJ kYOl6CW anW¢r cJJrnmllm8nts 1$ ctsvtrqd. Reslrict6d ffunds 8r¢ 6ubio¢t lo restrictions on empendilurè imposed by the donor or Ihrou9h Ihtr lerms of •n •ppeal or fundlng fequesl and m8y not bè u%d for De1 purpo808 ¥•ilhout •pfydfiG permi6slon. P•ft81ott eolts Thg ITUSI oporale8 definèd conknbu¢lon 6ctterne8 lor the b8nelbt ol emplwe•. The as8eM 8nd lIAbilib of the wnsion strMe1 are admthL8ter8d a0paraY The cost of employeil c4)nldbulk)n$ jre inclded in the flnanti81 JIarr}nts on an accry¢S basli ihey fall du8. RentA payNbl8 uTrYer operalltvJ •rg c8roed a 8traiqht-Iln? 11 0r8 tomi oflhe1o•10. Golng con¢•m Tha IN8lEo• h•v8 thken a prudenl approach lo w)08tin9 finon¢is1 lorttcast8 lo respond to iho knpaGt of COVID-1g. factodng In any Poienlial impact on luluro fufyjino. Gl¥en the 01 ol fundi In and fore¢a¥l c•shflowB. as w811 a8 mlUg8iing oCtion8 the Trusi un tske lo reduce 8¥P8ndilure. Iho ifUSte8s conshler Ihal thèra ar& no mitert81 unc4rtalnll88 about the charlty'i 4ts1ity to ¢onllnue JB a goln9 nce[ft 0r th¢ n¢ 12 monlhb. FIx•Ll•M•ts The Iwsl only copil•li8es IndioU91481otl Milling over E2.000. Items wlth a us•ful economlc life In 8xc81$ ol one •r Ih8t C061 B5 Ih•n thls d8-mlnSmli are axpBn¥d in tho &r of purchaB8 • Part oiine th•rl14bl8 8xp8rxlllurn of tyK or91nOn. Tr8d0 iJ•btorn 8nd 0lherJ•btOrn 8rn Induded •t tho Mttlomenl arnounldu¢. Prepoym•nts ire al tho •mounl prep•kl. C••h •tb•nk•ndln Iwid Ca8h Al b•nk •nd in h•nd includ81 c41h and hlqhly Ilquld I8nen18 wlth 4 •h¢rt mBlurfty ollhreo mrmthl or l••$ from d•t• of op•ninq ol Ih8d8po8it. Shw&tvrn¥ d•poill Short-t8rrn deposit includ08 In¥•itrnents ¥Alh A malurtty ol ovor Ihrq• rnonLtyi but not longer Ih•n h•lwd monhl• Irom the dat• 01 openlnq ollh8 d&p¢•it. Cr•thtw• •ndprowlBlon Crodllors and pro¥ialon8 are retoynleed where Ihe 1alY ha8 a prn¥Bnl obliqalhin orf85r¥J from & p•st•¥eni Ihal wll probabty reÉull In Ine Iransfef oi fund& lo J Ihlr¢ p•rty and the amouni duo 10 ieiie the oNlgBlion cbn b6 rM48ufad or8511mal8d rell•bly Credttorn arnj pro$10& ar¢ reGogniw¢J Bl their 88tt18m8ni 8m¥uni. Fln•n¢thlln¥trum•nts The ch8nty only hbo fiantyal a88018 4nd Ilobilllle8 of È kind Ih•l qualify s• basic flnanriil Inolrum•nii. 81C financ141 in$trumon are inib•lly rEGgBni¥qd bl tranDacllon value and &ubsgquDnlly masured al their 8eil¢moni TrAlue. 23
CONSTRUCTION INDUSTRY TRUST FOR YOUTH Not•$ to tho Financl41 Statsrnents forthg r ondln 31 Docombor 2021 FyrthlrliTr9 2021 20 Pvndrf•lnB IrK< Gemrydl 8.503 8.503 1,744 Gene E¥gnti 8urWub on fvndrnlll G•ral EV 0.503 Opnatsd ladllth• 1021 Unmtrfct•d DNlqnthd F¥nd• 2020 Fund• To Totii U4q olfocthb•• Qon4dtyi Dfmllt•n•iè & qqulpwi 14.25D 14.250 19 579 Tro TN•iW¢l Ihto e¥W•S tt¥ Jlncw• gl•tllud• on hIld 1 tho ytyJng PDDpk• m•1 w• nolp for th• w•at'dTrThJ' ¢n•l w•rn¢4v• fr¢mcon•irucik)n inthjilry ¢tYfflPthw K•y •upport•rn v• rAI the TIL•t'BwBb¥rtè Pr4rtt wlll¢ lfi¢¢Th• 202q R•4lrfct•d Fun0• Fund• Fund• T•MI ndlnq Futur• Sklll• eL¥tdlno 8uild•r• L&0 LrnIng to s(Cl&s klthlvè Row 5¢hol P4rtnerihip& Pllt• Prry 30,000 30,WO 179,080 100.OOD 39.sc ioB. 39.5 870.402 2020 Vnrn4lrl¢tsd Fund• D••lonat•d Fund• fotsl BthbJln9 FuluTe Skllll 8thng Bulltt•r clT8AppMnU1Np1 Pro CITB Cont•xtu4N••d CuryicLILYnPr4• CIT8 P4tlfyKyi L&Q L•xniw 10 SLMi•d p•rtnn1P& P14c• e•Md Prg9Mmnx• 20,039 243.C4B 20.881 24.500 21.2SO 20,939 243.04B 2Q.OJ8 24.8QO 29,250 122,WO 652.Q17 122,QQO 22.50ri e29.517
COMSTRUCMON INDUSTrY TrUST FOR YOUTh Lda• tolh• Sl•t•m•nl• forth or1 J1 0•rnbVr 2021 ¥VZl Tqw Id.26• 201 )).Isi 572,410 175,777 1ce,744 ONr 36.867 22.4tsS 1291LII .F57 Jpw ina¢kn¢qlt• 1J7.UP 61076 tsT.SBI Sk.QFO 51.E411 T.141 4rtC•mmllm• In 14,Y 471, IODAJ7 Jp.r4J 15.J4t CIN¢¥11 11b,DJE+ 111.lJO 81,41P 41.15 4?.1¥0 13QO.W IB1,IJ6 OD,874 p•rtIW ro• .IsD ,OW.E80,ts)i phi*• 1&17e2 11.QJl 7.D2J
CONSTRUCTION INDUSTRY TRUST FOR YOUTH Not•s to th• Flnancl•l Ststements for th• y•ar•ndlng 31 D•cember 2021 R•l•terf trnn14¢tlo Tho w m•nagefflenl rfflonnd of iho ch41Y are co48r8d to be reletod parbes and IDLAI am0ye benafils re 001 trJl in Nolo e Jbove The trust865 are Mt r•munerAtod. Alotal of £nil12020 £nill reirnbwsed lo 01202D." 01 Ifu6teO8 fDrtravel 8nd txp¢nses Rent ¥V85 p•kJ lo GrosvoNJr Ltd totallirvJ E32.735 1202tr al o Feduced rent IDtallity E33,2701. Mr S Brmr 10 0 gonr rn•w8r ol Gro$Or Ltdand a Twgt•• Consirucutr) Industry Trust fcr YoLrfh unill 1 Juno 2021. Thè Tmil a160 fx•ived £25,000 from SirRobert MGAlwre Ltd, offiich Ed McAlpine a dirwAor Trwi rac•ed a l¢X of t25,150 of urrn¥likied don41kiTr8 Irn tru8tOOi 12020. Eni The Tiu818150 w¢ivod Enl ol dM•tad rn4IAn• & ewlpnèntfrom Kdlbray Ltd 12020 £5791. MÈ H PrKg il a dirKtorof Kdlbrny Ltd. Pen•lon• ThB chBFrt8ble compjny opw4t¥ a d8finEd ctyilribubon the ¥¥•el8 Ind lpatrAllll Iro Admini1t•¢ a•p•rAWy. Durlno the ytjr iotèl ernyoyorn conlnbuion8 of t38,eoo 12020. £21,220) ¥wre chwged to th• 4tstqrn•nt of acb¥ilia• 88 IM•y acced Al lh8 ye4r gnd a tts1 bnbililyol £nll12020 £llillvrf8 irtelud4d 1h1n credil(Ys D•biorn 2021 2020 PrnpgyTh8ntsnd •ccrwd Come aJ.531 30.21 2011 1020 Tmd• cr0d0 Artrual& D•f•irod T•x & other wcN•l 8•cunty Other cr•diiori 8391 25.945 555.891 2S,879 7.856 824 002 2.681 29.876 167 500 15.51? 8.764 224,3 D•f•rrod Income i# m8d•upol 5 gront8120W 3 gr•ntsi r•l•Vng to prt4Kts arl ?ntI to undertaken in no y••r h•v• 11 Op•r•tlng 1•4• The tth•l fvIuTO rnlnimurn le• p4ym•nl• uarNOnne1ob0lll19 •• r• p4yabig 2021 2031 2020 2020 Bull90 Oth•r BulldlngB Oth•i In1ee8 Ihan t)ie Oot on• and fivèy••r• 3S.165 31,604 2.23e 2,981 2,238 opernlinq rarw• lor th• y•w%w•'. 20?1 2020 Olhor 32.736 33,270 5.140 39.1
CONSTRUCMON INOUSTRY TRUST FOR YOUTH Not•B to the FINn¢i•l Slaternents Ivtho arondl 31 O•cqmb•r2021 12 •J7wAllt fund• D•nat•d Fun Funtt4 Fun Tpthl cL¢rAll0 B85.W5 1.IrK.4 ?SS8 2,IA8,875 13 Inooffl• 1xp•¥V Trin•l•r Unrwtrtal•d Fund• .851 20.0 S¢wi Pirtnttthlp8 Biv•dProBMmm 131.J2n 11,?1 32, 10.4 lc4.cco a1 FulLr• SKI euQdiry euildN# S¢1 P•8M•d Proginm•i 4687 15,C .829 R•#ii¢t•dPund 10.wo 134, no sqh09 P4Mnwityp s P• Buod Progmmm er,746 i.e59 TO Vuf¥J Sil JohDC•i•'i Ir¢thi•• TnKII ¥lYF. Wlrq 25$ Fwd W•1¢012O1&¥2 W•i¢ol 2021 Bo(b E•bl ErdeLmrIly FTrYl COl.F¥0LIDCI1IT1l- IrfA•liwinYthr4 Pwb1201 S3 I•rForthlts7. 8uildirgUp wqq ••lmmI•rFol1tfi. TarB•tid Sup Wmlmlnrtw Fa•11&7. D•l¥•r¥¥ LNpfqt•rltylLw•w 220 NOwthumoDdFLThlI North 8wmond•ty N¥¢MouinDDOFLr& SIG•wgW• CIF R•¥Ith•r FLr 8BC INN••J. 88¢ CThiW InNJ- IrAplrN Fuiwe• Ildlng Fulw•Sklll¥. IW 16-18bwr rltts to4 r•w•cIplDI rci 1h•bukl•r¥ThTh 8¢uolB PMrArth4) * PI•F• B¥Md Prow•rn•i. ILPW ¢1 FJ Tt4fjM•r Io In 2021. tsniy lINd trAI of t&.2 TDWt•d fflrrf• Fw•ity b ltr•Ntor• Thb lthlyof••chmombw i¥r•ilnU•lto£l 1212roo 111.