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 CONSTRUCTION INDUSTRY TRUST FOR YOUTH IA c4Jmpany limited by guarant8el CONTENTS P•q• si*tutw Inlorm•kn Annu81 Rap￿ oftho T￿11￿•$ lTrJownd8nl R•port Stalomentol Flntrnol Aotth• B#i&nrAry Shv•l s￿l￿M&￿t of Fb*B Not81 lo the 8111￿)en 2-16 1&18 19 21 22-27 CONSTRUCTION INDUSTRY TRUST FOR YOUTH ststuto Infomiatlon for th• r •ndln 31 Doc•mbor 2021 Patron HRH The DukèofGk)Jtsgt8rKG OCVQ Rubert EdwaTd TW McAlpkne Trwt•M & Dlrwtor• Mzthew Baxter Manon Bradléy ￿￿tOria Bram￿nI Sto* IrqWg￿d l JuMX21) Robèrt EI￿r0 TW MrAlynq Tmllkim Meredlih Pairiaa MoDre lappalnl￿ on 2 NDv•mtr*r 20211 olly Prf Mailnder Slngh lapwintod 11 Jur* 20211 ljark SouifM*ll Iwgned ￿ 1 Junè 20211 RUAWI T8Wor F￿er￿k (app0kn￿￿ S•pI•m￿r2021) Au&d Maq K•y Mw•g•m•nt P•rnonn•l C8roi Lynch TMmaB Gk) N&mlta Harvey Dtsina Jonei Pellri o'K8èff• Charlotte ￿Ik01 ch￿ Exwju Partner8Thlp Man¥er (to 23 5gpiombpr 20211 P•rtneriThip Man¥gr Ifrom 10 N0￿M￿or 2021 10 15 D8(*mbor20211 nl H•Adof PrDwornrn•A Ilr(ym 1 June 2￿1> JDini H8&10f Prcw¥ommé8 Ilrom 1 Jun8 20211 ¢4 CanN R8wufCts Ilrom 1 ￿n0 20211 R•gl•t•r•d Ollk• B*m￿o¥•I Cam 37 ciwn8nt8 R￿] Tru•tAdmlnl•¢rtorn Chiof EX￿1￿•. C•rc4 Lyrth S8cf•tory. Ir••lfv 1 Jun•20?11 $E16 4EE Tdephonp". Ern•ll. 0207 467 9540 WwW￿r0trUclknyDuth ory uk Comwy R•Ji•trnlw Numo 01481612 Chnrtty Reghtr4Uon Num￿1 10P4323 Audltory Mazar4 LLP 2nd Flaar 6 Sth1￿ PIw8 Sutton C￿rt Roa Sutton Surrey SM14FS Accountwt• Jocob ca¥￿aDh & Skttt 5 RDbln Huod L4ne SLrtion 8LYfAy SMI 2SW LloydB P 34 Moory8t• London EC2R eDN 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 se￿iceS 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 diffe￿nI 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 inte￿IewS. 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 Sp￿lfIC 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 nUm￿r 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 aUthenti￿tion 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 ag￿ed 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 Op1￿10￿ We have audrted the financial ststements of Consiruttion Trt￿l For Youth Ithe 'charlty'l for the year ended 31 December 2D21 whlch comprlse the siaiementof FIA8ncial Attmties. the Bala￿e Sheet. the Staiemenl Of Cash Flows and r￿teS to IhE financial 51aletnEnl5. applitablÈ lèw and Unlted Kln8doffl Accounrin8 Standaid5, Includln8 FRS 102 "The Financlal Rewrtln6 Standard ￿p￿1(a￿e In the UK and RepuL4lcof lielan(r Iunlted Kiwdom Génér311y Accepted Accountln8 Pfactitel. 8lve atrue and falrvlewoltho state ollhetharltW5aHalrs 35 at31 Decernb2r 2021 a￿l0f Its Incorno and ex￿ndIt￿re for the yearthen ended., have oeen properlyprep3red ID accordancewith Uniied KI￿￿Orn GeTrÈFally Accepted Accouniln8PracllcE.'and have been prepared In accordance wlth thefeqvlrer￿nI$oI the CompaniesACI 2(￿5. Blililor oplnlon urQer those standèrds are further déseribed In the Audltorfs re5W>n￿bl1lthe5 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 OpIn￿O. CO￿lUllD￿l 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 rel*ln6 to events or condlllons that. Indlvldually or collectively. may ca5151Kniflcant doubt on the charity's ablllty to contlnue asj 8olnB conce¢n for a ￿r￿d 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