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← Reachout Youth

2024-08-31-accounts

REGISTERED COMPANY NUMBER: 04604379 (England and Wales) REGISTERED CHARITY NUMBER: 1096492

Report of the Trustees and

Financial Statements for the Year Ended 31 August 2024

for ReachOut Youth

ReachOut Youth

Contents of the Financial Statements for the Year Ended 31 August 2024

Page
Report of the Trustees 1 to 11
Report of the Independent Auditors 12 to 15
Statement of Financial Activities 16
Balance Sheet 17
Cash Flow Statement 18
Notes to the Financial Statements 19 to 31

ReachOut Youth

Report of the Trustees for the Year Ended 31 August 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

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ReachOut Youth

Report of the Trustees for the Year Ended 31 August 2024

OBJECTIVES AND ACTIVITIES Objectives and activities

Following a strategic review process, in 2024 the charity adopted a refreshed vision and mission for the charity:

The context of our work:

ReachOut believes that socio-emotional skills are overlooked foundational skills which improve both academic attainment and the daily, personal lives of children. We define these skills as empathy, responsibility, problem solving, initiative, teamwork and emotion management. These are all assets can be taken for granted because we assume everyone has equal access to developing them - and that's not the case.

We are operating in a complex environment. Children are facing unprecedented challenges, and schools are expected to provide the solutions. When up against budget constraints, schools often face pressure to focus on academic outcomes, rather than holistic development. A new approach is necessary to meet the demands placed on schools and ensure that the value of socio-emotional skills is widely appreciated.

That's where we come in. We are a strategic partner for schools. We build socio-emotional skills that transform outcomes for 9-14-year-olds. We exist because not all children have the opportunity to just 'pick up' socio-emotional skills. Outside of a formal educational environment, many children are denied access to the services necessary to acquire these skills. The 9-14 age bracket is a crucial juncture in childhood development, which is why we focus our efforts on this age range. Within this bracket, we target our efforts on helping young people constrained by circumstance.

Our programme follows an evidence-based curriculum, delivered through collective mentorship with trained practitioners. It integrates positive peer support and supportive adult role models. Our programme is consistently evidence based and evidenced building: using our extensive experience to deliver efficacy in the face of contemporary challenges.

However, we know that ultimately schools themselves are the sustainable and scalable solution to building equity around socio-emotional skills. That's why we're currently undergoing a strategic review to ensure the programme will continue far into the future.

How our activities deliver public benefit

The Trustees review the aims, objectives and activities of the charity each year. The Impact Report together with this report summarise the achievements of the charity and the outcomes of its work during the reporting period. The Trustees are pleased to report the success of the key activities of the charity with benefits delivered to those groups of people that the charity has been set-up to help, in line with its stated purpose.

The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.

In the opinion of the Trustees, we have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission.

Policies to further the charity's objects

The income and property of the charity from whatever source derived are applied solely towards the promotion of its objects as set out above. No portion thereof is paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit to the members of the company.

We are very grateful to all our funders, large and small, as well as our individual donors who are not named here, for their decision to donate to ReachOut and help us pursue our objectives. Their confidence in us is very much appreciated.

Programmes for young people of school age

ReachOut's core programmes combine group and individual mentoring from positive role models, interactions with employers and activities and experiences that cultivate character and promote social & emotional skills development. This helps young people to become more confident, resilient and better equipped for the future.

Led by paid staff who support our volunteer mentors throughout, regular after-school sessions are tailored to specific age groups working to a particular curriculum. Young people also benefit from insightful and inspiring work experiences and talks given by our network of mentors, corporate supporters and other partners.

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ReachOut Youth

Report of the Trustees

for the Year Ended 31 August 2024

ReachOut Academy: Secondary school pupils Year 7-9 (aged 11 - 14) Character-building activities and interactions with employers through workplace visits and career talks, to support the period through adolescence and prepare young people for future success.

For all age groups, young people are referred by their teachers at our partner schools, which are located in underserved areas where high numbers of young people are in receipt of Pupil Premium.

Youth Participation

Youth involvement and participation has continued to be a priority for the organisation, ensuring that young people can make meaningful contributions to shape our work to best benefit themselves and ReachOut.

Each project group had the opportunity to elect 2 'Mentee Reps' to represent their group by collecting feedback to support organisational decisions. From this cohort, these 'mentee reps' had the additional opportunity to apply to be part of our Youth Panel in London or Manchester. 21 young people became youth panellists and attended five in-person meetings across the year, where they received training, spoke to senior staff members to learn about the running of the organisation and provide feedback.

They chose a ReachOut strategic objective to build a project on that fed into ReachOut's organisational actions. This objective was mentor recruitment, and the young people utilised their sessions to discuss and develop ReachOut's recruitment strategies. They also had the opportunity to create and ask questions to our CEO candidates earlier this year and provided us feedback on the candidates after the interviews.

Our Project Leaders

ReachOut sessions are facilitated by Project Leaders: sessional staff members who are recruited, trained and given extensive ongoing support by ReachOut's core staff team. The Project Leader role is an excellent opportunity for those interested in youth work, teaching and other related professions to develop their skills and experience. We are proud that many of our core staff team have previously been Project Leaders with ReachOut in the past.

Our Volunteer Mentors

We aim to recruit a diverse pool of mentors who bring different skills, interests and experiences to our young people. Our mentors are a mixture of working professionals, who mostly volunteer at our secondary school programmes and students from local universities, who mostly volunteer at our primary school programmes. For our university mentors, they also have the opportunity to have a career mentor from our corporate supporters.

All mentors go through our recruitment and training journey which includes a 1-2-1 meeting with a member of our team and training that incorporates Reach Out's methodology, the challenges young people face, how to build successful relationships, active listening, safeguarding and setting boundaries. They also complete an enhanced DBS Check and submit two references.

Where a project involves 1:1 mentoring, the matching process happens around week three and is a facilitated process where young people are matched with mentors, with young people's preferences taken into account. Project Leaders provide ongoing line management of mentors and provide regular updates on safeguarding, session plans and development.

We were delighted that this year, 91% of mentors would recommend volunteering at ReachOut to a friend or colleague.

Alumni Engagement

We aim to stay connected with young people who have taken part in ReachOut programmes. This year, we were thrilled that six of our alumni have supported ReachOut through talking about their experience at our events and presenting to potential new corporate supporters.

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ReachOut Youth

Report of the Trustees for the Year Ended 31 August 2024

ACHIEVEMENT AND PERFORMANCE

Achievements and performance

2023/24 was a year of consolidation and change for ReachOut. In response to funding pressures, we reduced overall provision for young people from the previous year. We placed a renewed focus on developing a strong operational platform and carried out a full strategic review in preparation for a new phase in the organisation's development.

Programmes for Young People aged 9-14 (programmes were delivered to 140 15-16-year-olds as we transitioned to focusing on the younger age range)

Summary of projects delivered, and young people reached:

2023/24 Delivery Number of projects/Cohorts reached Places for young people
Programme
ReachOut Club London 13 156
ReachOut Club Manchester 10 120
ReachOut Club Liverpool 6 72
Total ReachOut Club 29 348
ReachOut Academy London 14 224
ReachOut Academy Manchester 12 192
Total ReachOut Academy 26 416
Total 55 764

Core Programmes - Key statistics

Impact measurement

This year we have continued to make improvements to how we track the impact of our work. Our methodology this year included start and end-of-year surveys with teachers, mentors, mentees and parents, as well as qualitative information gathered about socio-emotional skills development among young people taking part in programmes over the course of the year. This is supplemented by information received from schools surrounding young people's engagement, attitude to learning and academic attainment where this could be sourced:

Some highlights from 2023/24 were:

Mentees

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ReachOut Youth

Report of the Trustees for the Year Ended 31 August 2024

Teachers

Parents

For a more detailed analysis of the charity's impact please see the impact reporting documents available for download on our website.

In 2024/25 we are moving to a new impact methodology, having worked closely with YMCA George Williams College (Centre for Youth Impact) as a socio-emotional skills implementation partner. This has involved a thorough review of our Theory of Change, and our Monitoring Evaluation and Learning plan as well as putting in place their set of validated measurement tools which will provide more robust insights into the impact and quality of our provision. We are focused on making evidence informed programme improvements using data from these tools, alongside insights from The Stirling Children's Wellbeing Scale, feedback from mentees, mentors, teachers and our youth panel and referral data from schools.

The long-term outcome of our programme remains unchanged: supporting young people to improve their character. In addition to this we will empower young people to make positive decisions for their future ultimately resulting in improved life satisfaction. Whilst mentees are taking part in the programme, we can measure progress towards this through our short- and medium-term outcomes below:

Operational improvements

Alongside making improvements on our programmes offering, we have spent time this year on improving our internal operations. This is crucial to ensure that our systems, process and expertise are robust as we look to deepen our impact and grow our delivery model in future years. The main highlights for this year include:

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ReachOut Youth

Report of the Trustees for the Year Ended 31 August 2024

FINANCIAL REVIEW

Financial review

Incoming resources decreased this year to £921,671 against income of £1,293,241 in the previous year and a target of £1,100,000. Our plans to diversify our income sources through focused fundraising activities resulted in a continued uplift across corporate partnerships, community & individual fundraising and contributions from schools. The reduction of Trusts and Foundations income is a symbol of the very tough fundraising environment the charity sector is facing currently and represents a reduction of £325,408 through this income stream this financial year.

Changes in the distribution of funding sources compared to the previous financial years are outlined below:

Principle Funding Sources 2023/24 2022/23 2021/22
Trusts & Foundations 45% 52% 59%
Corporates 34% 30% 25%
Schools 8% 7% 5%
Community and individual 13% 11% 11%
Government 0% 0% 0%

Outgoing expenditure decreased to £1,205,285 from £1,377,538 leading to a net deficit of £283,614. At the start of the year, we had anticipated a £83,500 deficit; however, the challenging fundraising environment, particularly the decline in income from trusts and foundations which has historically been a stable funding source, had a significant impact. Despite the difficulties we have encountered this year, we have continued to create expenditure efficiencies. In 2023-2024 we successfully reduced our staffing costs by £140,580 in line with our reduced programme delivery. Additionally, towards the end of the financial year, we implemented a strategic restructuring exercise, with further savings to be realised in the next financial year.

Reserves

The charity's policy is to hold reserves for the purpose of protecting the work of the charity in the short term, should funding targets are not met or if the charity needs to cease or curtail its activities. The reserves policy is reviewed annually where specific factors affecting the level of continuity, restructuring and dissolution funds are looked at with changes being made as necessary.

The charity target reserves level has been set at between £239,246 and £478,492 with effect from 7th November 2024 which provides mitigation controls of 3 to 6 months of operating and close-down costs.

As of 31st August 2024, reserves stood at £164,167, which is below the target range and currently provides 2 months of operating costs. We have further restricted reserves of £31,918. The Board of Trustees has reviewed the situation and implemented plans to increase our unrestricted reserves over the coming year, with the goal of bringing the organisation back within the desired range outlined in our reserves policy.

Fundraising & Partnerships

ReachOut is fortunate to have a wide range of supporters who fund and support our work in a variety of different ways. Overall, 2023/24 was a more challenging year for fundraising than in any recent year and we fell short of raising the full amount that we hoped. Like many other charities we are finding that grants from trusts and foundations are proving more difficult to secure in a hugely competitive and difficult environment. That said, many of our friends and supporters continue to recognise the importance of the work being done by ReachOut. Our community events continue to be a growing area for the charity and, whilst we fell short of our initial targets, we were delighted to welcome several new corporate supporters.

As in previous years, the majority of our funding 79% (2023/24 - 82%) came from grants from trusts and foundations and corporate partnerships, a mixture of project and unrestricted funding. We are deeply grateful to our long-term supporters, including the Henry Smith Foundation, Garfield Weston Foundation, Fidelity Foundation, Swire Charitable Trust, AKO Foundation, and John Lyons Charity, as well as those new to supporting us this year, such as the 4814 Trust, Westminster Foundation, and Football for Change, to name just a few.

Our partnerships with companies continue to be crucial to our work in so many ways. Alongside providing significant number of mentors and valuable workplace experiences which greatly enhance our programmes, partnerships with companies also generate vital funds for the charity through sponsorship, donations and payment for services. We are committed to cultivating mutually beneficial, long-term partnerships with companies which best serve the interests of the young people we support. We are grateful for the continued support of many of our longstanding corporate partners including Aegis London, Bregal Investments, Blackrock, Bloomberg, Quadrant Estates, James Hambro, Macquarie, Wellington Management Ltd, The Pokémon Company International, EDF, Simkins and Tibra Capital. We are excited to welcome new partners including Howden, Fiecon, Salesforce, Deloitte Digital Futures and Barclays Private Bank.

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ReachOut Youth

Report of the Trustees for the Year Ended 31 August 2024

In addition to the above, an important part of our funding mix comes from contributions from schools, individuals and community events. This year we had our highest ever number of runners in the Hackney Half Marathon and raised more than in any previous year. Our Network Development Group (NDG) continued its valuable activities. This is a group of senior volunteers charged with expanding our network of individual and corporate contacts. A highlight of the year was the successful networking event organised with the NDG and hosted at Clays (indoor virtual clay-pigeon shooting) for new corporate partners and supporters.

All our fundraising activities are carried out by our in-house fundraising team, overseen by the charity's leadership. The Charity is registered with the Fundraising Regulator and our fundraising activities are in line with the Code of Fundraising Practice and our own ethical fundraising policy.

All our fundraising activities are carried out by our in-house fundraising team, overseen by the charity's leadership. The Charity is registered with the Fundraising Regulator and our fundraising activities are in line with the Code of Fundraising Practice and our own ethical fundraising policy.

We are enormously grateful to everyone who has supported ReachOut this year.

Principal risks and uncertainties

The Trustees are responsible for ensuring key risks faced by ReachOut are managed and adequate mitigating measures are implemented. How we proactively identify and manage our risks is recorded in the Risk Register and reviewed biannually at board meetings.

Key risks for ongoing attention:

Safeguarding - The Trustees are aware the principal risk for the Charity is concerned with the safeguarding of the young people it aims to support, and as such, this is always considered when risks are discussed. ReachOut's Safeguarding & Child Protection Policy is reviewed annually by the Trustees which sets out procedures and controls to mitigate the associated risks. Our Designated Safeguarding Leads ensure safeguarding reporting and recording procedures are followed and that concerns are flagged and communicated rapidly and securely. All staff and volunteers are screened and vetted, and we deliver continually updated safeguarding training to volunteers. Staff undergo annual refresher training, and we liaise with schools regarding at risk young people.

Funding - To mitigate the funding risks, we continue to diversify our funding streams across trusts and foundations, government grants, schools, corporate donations and community fundraising. Through our strategic review, we are also building on our offers for schools and education, third sector organisations and partnership working which we look to test and implement in the next financial year.

Loss of key personnel - Through progression and succession planning, we strengthened the Board towards the end of the last financial year with six new appointments including a new Chair and Treasurer. We have also increased the skillset and experience within the senior management team with the appointment of a new CEO and the new position of Head of Finance & Corporate Services. We have also this year, structured our sub-committees and we will be looking to add external members to these committees early in the new financial year.

Volunteer and Project Leader recruitment and retention - Recruiting adequate numbers of volunteers and Project Leaders remains a high risk for ReachOut as they are integral to our delivery. Without them, there could be a negative impact on our beneficiaries. This risk is continuously monitored and plans are implemented to minimise this risk.

Cyber & Digital - With the current trends and risks associated with cyber-attacks, we have onboarded a 3rd party IT support provider, and we will be working towards obtaining cyber essentials accreditation early in the new financial year.

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ReachOut Youth

Report of the Trustees for the Year Ended 31 August 2024

PLANS FOR THE FUTURE

Since October 2023, ReachOut has undertaken a comprehensive strategic review of the organisation, our impact, our operational model, our learnings and insight and the environment we operate in. This work has been undertaken by a strategy working group comprising trustees, members of the executive, and staff members from various departments, bringing a range of expertise, lengths of service, and lived experience to the process.

To enable us to reach our strategic ambitions, ReachOut needs to adapt how we work, enhancing both the outputs and experience for everyone connected to the organisation, while improving the quality of work for our committed team. Once we have a clearer understanding of our future operating model, following the early testing in the next financial year, we will need to build the team and people plan to support the delivery of our ambitions.

Externally, the funding landscape has never been more challenging. Many charities, including some larger and more well-known than ReachOut, have folded. Despite recent government changes, we don't anticipate a swift turn around in the impact of the last decade. Within this fundraising climate, with higher demand on fewer funds, we must find ways to gain greater control and predictably over our income.

Ahead of the strategy launch in 2025/2026, there are some things we have already implemented.

We've examined the school and wider youth engagement ecosystem, assessing the needs of young people and the critical role of early intervention in developing skills, behaviours, and raising aspirations. Early support not only boosts young people's confidence when choosing their GCSEs but empowers them to take full advantage of other opportunities available to them. This is also where we've had the greatest impact over the years.

With this in mind, we are now focusing our support on 9-14-year-olds who go to school in the 20% most deprived UK communities (using the IDACI metric - Income Deprivation Affecting Children Index) - the age group who will benefit most from our interventions.

Our strategic approach is designed to create a focused, targeted and ambitious future for ReachOut, whilst preserving the essence and success of the last 20 years. We know that there are areas yet to be explored, and the focus next year will be to test these hypotheses and operational models through robust methodologies, effective sample sizes, and valuable expertise and insight.

Going concern

ReachOut has an appropriate level of reserves, a strong network of supporters and a clear case for support with current and prospective funders. Although the deficit incurred in the current year wasn't expected to the level experienced, we remain within reach of the charity's Reserves Policy as described on page 9 of this report. The level of reserves at the year-end stood at £164,167 and is budgeted to be £329,000 at the end of the 2024/25 financial year. This year end position is within our reserves target range of £239,246 and £478,492 which provides mitigation controls of 3 to 6 months of operating and/or close down costs and would provide us just over 4 months of operational reserves.

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ReachOut Youth

Report of the Trustees for the Year Ended 31 August 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 29 November 2002 and registered as a charity on 12 March 2003. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

There are three committees of the Board, Programmes & Impact, Finance, Audit & Risk and the Remuneration & Nominations Committee.

Responsibility for day-to-day operations and the leadership of the staff and volunteer team is delegated to the Senior Management Team. The team is responsible for all day-to-day decisions affecting the charity. Decisions of a strategic or directional nature, including the employment of the senior staff, remain the responsibility of the Trustees, as laid out in our Delegation of Executive Powers. The Trustees are ultimately responsible for setting and approving the remuneration of the CEO. Remuneration for the wider team is delegated to the CEO and the process agreed with the Finance, Audit & Risk Committee and the Remuneration & Nominations Committee is approved by the Trustees as part of the annual budget process. The charity has no subsidiaries or related parties.

All Trustees give their time voluntarily and receive no benefits from the charity. £186 of expenses were claimed by the Trustees in this financial year.

Related parties and relationships with other organisations

Within the year, there was one related party transaction from trustee, Tom Edmunds of £750. This payment was a donation for his company, Edmunds Elder, to take part in the annual ReachOut Charity Cup football fundraising event.

Remuneration policy for key management personnel

Our approach to pay is to provide fair and appropriate remuneration packages for our people to ensure we can attract and retain people with the skills and experience to deliver the Charity's objectives. We aim to be competitive in the marketplace from which we draw our people and review this regularly through benchmarking exercises.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

04604379 (England and Wales)

Registered Charity number

1096492

Registered office

8-10 Grosvenor Gardens London SW1W 0DH

Trustees

Professor Simon Hepburn Marion Baker James Browne Tom Edmonds Steven McCann Deepa Mistry Owen Standen Nigel Terrington Mona Vadher Zeynab Yusuf (resigned 2.7.24)

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ReachOut Youth

Report of the Trustees for the Year Ended 31 August 2024

REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary

Ben Hilton

Key Management Personnel

Ben Hilton, Chief Executive Officer (appointed 9th October 2023) Jo Amand, Head of Finance and Operations (appointed 10th January 2024) Alice Cleary, Head of Programmes & Impact (appointed 20th November 2023)

James Williams, Head of Marketing and Partnerships (resigned 30th September 2024) Alice Memminger, Interim Chief Executive Officer (In post from 20th February 2023 to 6th October 2023)

Frank Harasiwka, Head of Finance & Corporate Services (resigned 9th February 2024)

Network Development Group

Steven McCann (Chair) Jash Radia Luke Louca Alex Martin Tom Warren

Bankers

RBS Drummond House Redheughs Ave Edinburgh EH12 9RH

The Co-operative Bank PO Box 250 Skelmersdale WN8 6WT

Solicitors

Morgan, Lewis & Bockius Condor House 5-10 St. Paul's Churchyard London EC4M 8AL

Menzies LLP Lynton House 7-12 Tavistock Square London WC1H 9LT

GBH Law Ltd 7-8 Innovation Place Douglas Drive Godalming GU7 1JX

Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditors 110 Golden Lane London EC1Y 0TG

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ReachOut Youth

Report of the Trustees for the Year Ended 31 August 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES Statement of Responsibilities of the Trustees

The Trustees (who are also directors of ReachOut Youth for the purposes of company law) are responsible for preparing the Trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees on 31st August 2024 was nine.

Auditor Sayer Vincent LLP was reappointed as the charitable company's auditor during the year and as part of good governance, we will review the market to test competitiveness and service ahead of the next annual audit.

The Trustees' annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

12th February 2025

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Professor Simon Hepburn - Trustee

…………………………………………….. Deepa Mistry - Trustee

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Report of the Independent Auditors to the Members of ReachOut Youth

Opinion

We have audited the financial statements of ReachOut Youth (the 'charitable company') for the year ended 31 August 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on ReachOut Youth's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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Report of the Independent Auditors to the Members of ReachOut Youth

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities set out in the trustees' annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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Report of the Independent Auditors to the Members of ReachOut Youth

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Report of the Independent Auditors to the Members of ReachOut Youth

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

………………………………………………..

Joanna Pittman (Senior statutory auditor)

Date: ........................................................ 28 February 2025

For and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, London, EC1Y 0TL

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ReachOut Youth

Statement of Financial Activities for the Year Ended 31 August 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Charitable Activities
Investment income
3
Other income
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Charitable Activities
ReachOut Club
ReachOut Academy
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
500,568
70,157
2,507
1,032
574,264
285,663
205,306
211,369
187,458
889,796
(315,532)
479,699
164,167		 Restricted
funds
£
210,484
136,923
-
-
347,407
-
315,489
-
-
315,489
31,918
-
31,918		 2024
Total
funds
£
711,052
207,080
2,507
1,032
921,671
285,663
520,795
211,369
187,458
1,205,285
(283,614)
479,699
196,085		 2023
Total
funds
£
812,601
477,133
3,507
-
1,293,241
233,673
1,143,865
-
-
1,377,538
(84,297)
563,996
479,699

The notes form part of these financial statements

Page 16

ReachOut Youth (Registered number: 04604379)

Balance Sheet
31 August 2024
Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2024
£
3,192
95,862
197,691
293,553
(100,660)
192,893
196,085
196,085
164,167
31,918
196,085		 2023
£
-
95,468
542,608
638,076
(158,377)
479,699
479,699
479,699
479,699
-
479,699

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 12th February 2025

........................................................................ Professor Simon Hepburn - Trustee

…………………………………………….. Deepa Mistry - Trustee

The notes form part of these financial statements

Page 17

ReachOut Youth

Cash Flow Statement
for the Year Ended 31 August 2024
2024
Notes
£
Cash flows from operating activities
Cash generated from operations
19
(343,368)
Interest paid
(45)
Net cash used in operating activities
(343,413)
Cash flows from investing activities
Purchase of tangible fixed assets
(4,011)
Interest received
2,507
Net cash (used in)/provided by investing activities
(1,504)
Change in cash and cash equivalents in
the reporting period
(344,917)
Cash and cash equivalents at the
beginning of the reporting period
542,608
Cash and cash equivalents at the end of
the reporting period
197,691		 2023
£
(72,656)
-
(72,656)
-
3,507
3,507
(69,149)
611,757
542,608

The notes form part of these financial statements

Page 18

ReachOut Youth

Notes to the Financial Statements for the Year Ended 31 August 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Schools income is recognised in the academic year to which it relates.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure and irrecoverable VAT

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Expenditure is classified under the following activity headings:

Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

Expenditure on charitable activities includes the costs of delivering services and activities undertaken to further the purposes of the charity and their associated support costs

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which is an estimate, based on projects undertaken, of the amount attributable to each activity.

Support and governance costs are reallocated to each of the activities on the following basis which is an estimate, based on projects undertaken, of the amount attributable to each activity

- ReachOut Club 53% (2023: 47%)
- ReachOut Academy 47% (2023: 50%)
- ReachOut Plus 0% (2023: 3%)

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity's activities.

Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

Page 19

continued...

ReachOut Youth

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

1. ACCOUNTING POLICIES - continued

Donations of gifts, services and facilities

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these criteria is charged to the fund.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme with NEST and currently contributes 2% of qualifying earnings.

Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £300. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

Page 20

continued...

ReachOut Youth

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

1. ACCOUNTING POLICIES - continued

Going concern

ReachOut has an appropriate level of reserves, a strong network of supporters and a clear case for support with current and prospective funders. Although the deficit incurred in the current year wasn't expected to the level experienced, we remain within reach of the charity's Reserves Policy as described on page 9 of this report. The level of reserves at the year-end stood at £164,167 and is budgeted to be £329,000 at the end of the 2024/25 financial year. This year end position is within our reserves target range of £239,246 and £478,492 which provides mitigation controls of 3 to 6 months of operating and/or close down costs and would provide us just over 4 months of operational reserves.

Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

Statutory Information

ReachOut Youth is a charitable company limited by guarantee and is incorporated in the United Kingdom.

The registered office is 8-10 Grosvenor Gardens, London, SW1W 0DH.

2. DONATIONS AND LEGACIES

2024 Income from donations and legacies (current year)

Individual Fundraising
Community Fundraising
Total community
Bloomberg
Bregal Investments
Howden Group Services
Other corporates
Total corporates
Fidelity
Garfield Weston Foundation
The Henry Smith Charitable Trust
The AKO Foundation
Society of the Holy Child Jesus
The 4814 Trust
Other trusts
Total trusts
Total gifts
Gift Aid
Donated services		 Unrestricted
£
67,641
53,304
120,945
12,141
45,140
70,000
142,429
269,710
-
-
-
50,000
-
15,000
11,000
76,000
466,655
8,913
25,000
500,568		 Restricted
£
-
-
-
-
-
-
-
-
85,474
40,000
61,310
-
15,000
-
8,700
210,484
210,484
-
-
**210,484 **		 2024 Total
£
67,641
**53,304 **
120,945
12,141
45,140
70,000
142,429
269,710
85,474
40,000
61,310
50,000
15,000
15,000
19,700
**286,484 **
677,139
8,913
25,000
**711,052 **

Individual funders have been listed where they make contributions equal to or greater than £25,000, or where they requested to be named.

Donated services represents amounts received during the year in relation to professional communications and marketing work. These amounts have been calculated based on what the charity would have paid for these services, had they not been provided pro-bono.

Page 21

continued...

ReachOut Youth

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

2. DONATIONS AND LEGACIES - continued

2023 Income from donations and legacies (prior year)

Unrestricted
£
Individual Fundraising
40,432
Community Fundraising
94,826
Total community
135,258
Bloomberg
-
Bregal Investments
43,750
The Pokemon Company
79,842
Other corporates
167,957
Total corporates
291,549
Fidelity
-
Garfield Weston Foundation
-
The Henry Smith Charitable Trust
-
The AKO Foundation
100,000
Society of the Holy Child Jesus
-
Swire Charitable Trust
-
Other trusts
63,196
Total trusts
163,196
Total gifts
590,003
Donated services
2,500
592,503
3.
INVESTMENT INCOME
Interest receivable
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Charitable Activities		 Restricted
£
-
-
-
10,000
-
-
11,264
21,264
26,341
40,000
56,990
-
20,000
25,000
30,502
198,833
220,097
-
**220,097 **		 2023 Total
£
40,432
94,826
135,258
10,000
43,750
79,842
179,221
312,813
26,341
40,000
56,990
100,000
20,000
25,000
93,698
362,029
810,100
2,500
812,600
2024
£
2,507
2024
£
207,080		 2023
£
3,507
2023
£
477,133

Page 22

continued...

ReachOut Youth

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

4. INCOME FROM CHARITABLE ACTIVITIES - continued

2024 Income from charitable activities (current year)

Wellington Management UK
Other
Total trusts
Schools and other
Sub-total for ReachOut Club
Tibra
Swire Charitable Trust
Other
Total trusts
Schools and other
Sub-total for ReachOut Academy
Deloitte Digital Connect
Sub-total for Deloitte Digital Connect
Schools and other
Total income from charitable activities		 Unrestricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
70,157
**70,157 **		 Restricted
£
35,000
18,600
53,600
-
53,600
11,000
25,000
43,878
79,878
-
79,878
3,445
3,445
-
136,923		 2024 Total
£
35,000
18,600
53,600
-
53,600
11,000
25,000
43,878
79,878
-
79,878
3,445
3,445
70,157
207,080

Individual funders have been listed where they make contributions equal to or greater than £25,000, or where they have requested to be named.

Page 23

continued...

ReachOut Youth

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

4. INCOME FROM CHARITABLE ACTIVITIES - continued

2023 Income from charitable activities (prior year)

Wellington Management UK
The Constable Educational Trust
Total trusts
Total schools and other
HSBC
Sub-total for ReachOut Club
Tibra
Jack Petchey Foundation
St. James' Place Foundation
The Clothworkers' Foundation
Richer Sounds
Total trusts
Total schools and other
HSBC
Sub-total for ReachOut Academy
Jack Petchey Foundation
Total trusts
Total schools and other
Sub-total for ReachOut Plus
Total income from charitable activities
Grants received, included in the above, are as follows:
Grants
5.
RAISING FUNDS
Raising donations and legacies
Staff costs
Fundraising costs
Travel expenses
Recruitment and other staff costs
Other trading activities
Trustees' expenses
Interest payable and similar charges
Aggregate amounts		 Unrestricted
£
-
-
-
44,850
-
44,850
-
-
-
-
-
-
45,600
-
45,600
-
-
-
-
90,450		 Restricted
£
50,000
100,000
150,000
-
23,141
173,141
20,000
50,000
30,000
50,000
10,000
160,000
-
23,142
183,142
30,400
30,400
-
30,400
386,683
2024
£
207,080
2024
£
230,331
42,588
1,085
11,428
285,432
2024
£
186
45
231
285,663		 2023 Total
£
50,000
100,000
150,000
44,850
23,141
217,991
20,000
50,000
30,000
50,000
10,000
160,000
45,600
23,142
228,742
30,400
30,400
-
30,400
477,133
2023
£
477,133
2023
£
205,791
25,397
2,485
-
233,673
2023
£
-
-
-
233,673

Page 25

continued...

ReachOut Youth

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

6. CHARITABLE ACTIVITIES COSTS

Charitable Activities
7.
SUPPORT COSTS
Management
£
ReachOut Club
189,094
ReachOut Academy
167,706
356,800
Management
Wages
Social security
Pensions
Insurance
Rent, light and heat
Telephone
Postage and stationery
Advertising and marketing
Sundries
Computer and website costs
Recruitment and other staff costs
Travel
Staff entertainment
Communication costs
Depreciation of tangible assets
Finance
Bank charges
Governance costs
Auditor's remuneration
Accountancy fees
Legal and professional fees		 Support
Direct
costs (see
Costs
note 7)
£
£
520,794
398,827
520,794
398,827
Governance
Finance
costs
£
£
633
21,642
561
19,191
1,194
40,833
2024
£
143,736
14,549
2,886
4,924
91,533
18,519
5,336
5,000
4,395
18,221
14,649
12,000
2,733
17,500
819
356,800
2024
£
1,194
2024
£
12,620
12,856
15,357
40,833		 Totals
£
919,621
919,621
Totals
£
211,369
187,458
398,827
2023
£
79,159
8,013
1,589
4,507
-
15,808
1,671
-
4,372
9,758
16,548
1,194
-
-
-
142,619
2023
£
1,148
2023
£
10,200
-
78,416
88,416

Page 25

continued...

ReachOut Youth

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Auditors' remuneration
Depreciation - owned assets		 2024
£
12,620
819		 2023
£
10,200
-

9. TRUSTEES' REMUNERATION AND BENEFITS

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £Nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £Nil).

Trustees' expenses

Trustee expenses of £169 (2023: £Nil) were incurred for travel by one trustee and expenses of £17 (2023: £Nil) were incurred for trustee meetings.

10. STAFF COSTS

Wages and salaries
Social security costs
Employer's contribution to defined contribution pension schemes
Consultancy fees
Termination payments		 2024
£
811,091
66,757
17,062
-
3,428
898,338		 2023
£
883,984
73,234
18,880
55,180
7,640
1,038,918

The average number of full time equivalent employees during the year was as follows:

Raising funds
ReachOut Club
ReachOut Academy
ReachOut Plus
Support		 2024
No.
5.9
12.7
12.5
-
3.4
34.5		 2023
No.
5.8
16.4
15.5
1.1
3.2
42.0

The average number of employees (head count based on number of staff employed) during the year was as follows:

Raising funds
ReachOut Club
ReachOut Academy
ReachOut Plus
Support		 2024
No.
7.6
35.0
35.3
-
6.6
84.5		 2023
No.
7.0
20.1
47.4
7.1
6.5
88.1

Page 26

continued...

ReachOut Youth

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

10. STAFF COSTS - continued

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

£70,001 - £80,000 2024
No.
1		 2023
No.
-

The total employee benefits including employer's national insurance and pension contributions of the key management personnel were £253,987 (2023: £160,778).

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable Activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable Activities
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
12.
TANGIBLE FIXED ASSETS
COST
Additions
DEPRECIATION
Charge for year
NET BOOK VALUE
At 31 August 2024
At 31 August 2023		 Unrestricted
fund
£
592,504
90,450
3,507
686,461
233,673
537,085
770,758
(84,297)
563,996
479,699		 Restricted
funds
£
220,097
386,683
-
606,780
-
606,780
606,780
-
-
-		 Total
funds
£
812,601
477,133
3,507
1,293,241
233,673
1,143,865
1,377,538
(84,297)
563,996
479,699
Computer
equipment
£
4,011
819
3,192
-

Page 27

continued...

ReachOut Youth

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2024
£
86,688
163,325
250,013		 2023
£
33,192
85,746
118,938

The lease on the former London office was terminated during the year. A new licence agreement was signed in February 2024 for office space in London. This licence period began in July 2024 for a total of 36 months, with an option to break the licence with 3-months prior written notice.

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
fund
£
Fixed assets
3,192
Current assets
218,135
Current liabilities
(57,160)
164,167
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Central Cost
ReachOut Academy
TOTAL FUNDS		 Restricted
funds
£
-
75,418
(43,500)
31,918
At 1.9.23
£
479,699
-
-
-
479,699		 2024
Total
funds
£
3,192
293,553
(100,660)
196,085
Net
movement
in funds
£
(315,532)
31,320
598
31,918
(283,614)		 2023
Total
funds
£
-
638,076
(158,377)
479,699
At
31.8.24
£
164,167
31,320
598
31,918
196,085

17. MOVEMENT IN FUNDS

Page 28

continued...

ReachOut Youth

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

17. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
574,264
Restricted funds
Central Cost
210,484
ReachOut Club
53,600
ReachOut Academy
79,878
Deloitte
3,445
347,407
TOTAL FUNDS
921,671
Comparatives for movement in funds
At 1.9.22
£
Unrestricted funds
General fund
563,996
TOTAL FUNDS
563,996
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
686,461
Restricted funds
Central Cost
220,097
ReachOut Club
173,141
ReachOut Academy
183,142
ReachOut Plus
30,400
606,780
TOTAL FUNDS
1,293,241		 Resources
expended
£
(889,796)
(179,164)
(53,600)
(79,280)
(3,445)
(315,489)
(1,205,285)
Net
movement
in funds
£
(84,297)
(84,297)
Resources
expended
£
(770,758)
(220,097)
(173,141)
(183,142)
(30,400)
(606,780)
(1,377,538)		 Movement
in funds
£
(315,532)
31,320
-
598
-
31,918
(283,614)
At
31.8.23
£
479,699
479,699
Movement
in funds
£
(84,297)
-
-
-
-
-
(84,297)

Page 29

continued...

ReachOut Youth

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Central Cost
ReachOut Academy
TOTAL FUNDS		 At 1.9.22
£
563,996
-
-
-
563,996		 Net
movement
in funds
£
(399,829)
31,320
598
31,918
(367,911)		 At
31.8.24
£
164,167
31,320
598
31,918
196,085

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Central Cost
ReachOut Club
ReachOut Academy
ReachOut Plus
Deloitte
TOTAL FUNDS		 Incoming
resources
£
1,260,725
430,581
226,741
263,020
30,400
3,445
954,187
2,214,912		 Resources
expended
£
(1,660,554)
(399,261)
(226,741)
(262,422)
(30,400)
(3,445)
(922,269)
(2,582,823)		 Movement
in funds
£
(399,829)
31,320
-
598
-
-
31,918
(367,911)

18. RELATED PARTY DISCLOSURES

The charity received a £750 gift (2022: £2,000) from Edmond's Elder, where one of the charity's trustees is a founding director. This related to the entrance fee for participation in a charity football tournament, the Charity Cup.

19. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Interest paid
Increase in debtors
(Decrease)/increase in creditors
Net cash used in operations		 2024
£
(283,614)
819
(2,507)
45
(394)
(57,717)
(343,368)		 2023
£
(84,297)
-
(3,507)
-
(37,239)
52,387
(72,656)

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continued...

ReachOut Youth

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

20. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.23 Cash flow At 31.8.24
£ £ £
Net cash
Cash at bank 542,608 (344,917) 197,691
542,608 (344,917) 197,691
Total 542,608 (344,917) 197,691

21. LEGAL STATUS OF THE CHARITY

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

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