XLP Annual Report and Accounts For Year Ended 31" August 2024 XLP. All Hallows-on-the-wall. 83, London Wall, EC2M 5ND XLP is a company limited by guarantee, registered in England. number4959458 and a registered charity number 1101095
XLP FOR THE YEAR ENDED 31-AUGUST2024 Contents Details of the Charity, Trustees and Advisors Welcome from the Chief Executive Officer Objectives and Activities Achievements and Performance Financial and Risk Review 16 Plans for Future Periods 19 Structure, Governance and Management 20 Statement of Trustees, Responsibilities 21 Auditor's opinion 23 Statement of Financial Activities 27 Balance Sheet 28 Statement of Cash Flows 29 Notes to the Financial Statements 30
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 DETAILS OF THE CHARITY. TRUSTEESAND ADVISORS XLP is a charitable company limited by guarantee, registered in England, and incorporated in 2003. The companywas registered as a charity in 2003. XLP is also historically known as-The X L Project-. Registered Charity Number Registered Company Number 1101095 4959458 Registered Off ice All Hallows-on-the-wall 83 London Wall London EC2M 5ND Trustees Mr E F C Donaldson OBE MrN C Benton Miss Eyentumi Mrs S Douglas Mr K Brese Miss H Williams {appointed 0810512024) Chair Mr E F C Donaldson OBE Treasurer Mr N C Benton Secretary MrPJWood Chief Executive MrLOWatson Bankers HSBC Bank PLC 28 Borough High Street Southwark London SE1 1YB Auditor Edmund Carr LLP 146 New London Road Chelmsford Essex CM2 OAW
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 WELCOME FROM THE CHIEF EXECUTIVE OFFICER A lot has changed since our last Annual Report: a new government. who've brought in a new budget. and a new Nationalyouth Strategy. both of which will have an impacton ourwork ahead. What hasn't changed is the economic outlook. or if it has changed. it has worsened. Poor economic growth coupled with higher National Insurance contributions have left many funders unable to commit to charitable giving as they have in the past. We are seeing more trusts and foundations pausingtheir giving- or closing altogether- at a time where there is inevitably more need for both funding and services. Alongside many other charities. we lobbied government lunsuccessfullyl for an exemption from the increased National Insurance obligations, which it is estimated will cost the charity sector over £1 billion in the year ahead money that will either need to be raised as income or cutfrom expenditure. AtXLP. itwilLequate to at leasttwo fulltime youth workers, salaries. On the other hand. we are encouraged by the reintroduction of a National Youth Strategy- the firstfor morethan a decade-and hopefulthat it indicates a commitmentto helpingyoung people and a priorityforthe new administration. Whilst positive. the funding remains far belowthe cuts that have been made over the past decade. and at present it is unclear how the funds will be spent. As we move towards our 30-year anniversary. it is clear that good youth work is needed as much now as when we began. Young Londoners face a widening economic gap in society- which is mirrored by a widening opportunity gap and the divergence of life outcomes between rich and poor- and as ever. it is the poorest in societywho are sufferingthe most from the ongoing cost- of-living crisis and economic outlook. As funds decrease. the need increases. and the youth sector land charity sector more broadly) is facing an uncertain future. Indeed, while writing this we heard the sad news that YMCA George Williams College would be closing after 55 years of youth work and training. joining the Likes of the British Youth Council. Children England. NCS Trust. the Centre for Youth Impact. the Centre for Education and Youth. and over half the youth clubs across the country after more than a decade of drastic funding cuts. And yet we hang on to hope. Improved school engagement, reduced crime and anti-social behaviour, and improved socialskills and safety are the markers of effective youth work practice. We have spent the past year digging into what really works as an organisation and ensuring we replicate that in all the spaces we operate. and have grown ouryouth work in the nine boroughs where we work. We are offering opportunities to more young people than we ever have before, ensuringwe work more intensively and intentionallywith those we alreadyworkwith. XLP makes a tangible and sustained difference in thousands of young Londoners. lives every year. To all those who support us. a huge thank you. As a charity that was formed in response to a stabbing in 1996, we are now a 60-strong team, and we simply couldn't do what we do without the support, encouragement and generosity of individuals, churches, trusts, foundations, companies and local government. and l am indebted as everto allthe staff and volunteers atXLP who enable us to keep delivering life-changingyouth work across London. Luke Watson, Chief Executive Officer
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 OBJECTIVES AND ACTIVITIES XLP was founded in 1996. Its charitable objects are set out in its governing document and these underpin its operational objectives. The trustees have paid due regard to the Charity Commission's guidance on public benefit when determining the activities of the charity. At XLP. we believe that every young person should start adult lrfe with the same opportunities, and we exist to help young people break negative cycles caused by inequality. and in doing so. bring about community transformation. Through consistent. intentional and dedicated youth work, we showyoung peoplethatwe care. andthattheyare known and seen. We build long-term, positive relationships between trusted adults and young people. and provide support. positive activities, fun, opportunities and safe spaces, ensuring projects are shaped byyoung people and embedded within local communities. XLP engages in long-term relationships to empower young people from the most disadvantaged backgrounds to complete their education and avoid anti-social behaviour, gangs and criminality, and ultimatelyto become positive contributors to their communities. We work to create positive futures for young people living in our inner cities and to make a serious and sustainable impact upon poverty and educational failure. The charity seeks to serve children and young people (approx. 10-20 years of age), primarilyfrom inner-London estate communities. who are experiencing a range of Life challenges andlor behavioural and educationaldifficulties. Itdoesthisthrough a mixture of prevention. intervention and diversionary projects that are focussed on deliveringthe following outcomes: Children and young people with a raised sense of self-worth. self-esteem and increased educational achievement that helps them confidently and positively contribute to society. Children and young people with fresh goals and the desire to work hard to achieve them. with the abilityto make wise lifestyle choices: and. Children and young people with positive attitudes and behaviourtowards their communities: theirfamilies. peers. local residents. teachers and the police. XLP works principally in the London boroughs of Camden. Islington. Newham. Tower Hamlets. Hackney. Lewisham. Greenwich. Southwark. Lambeth and the City of London. Over the past 12 months. we have worked with over 3.765 young people and their families on a one-to-one and small group basis. concentrating on building long-term. positive. trusted relationships. Over 800 young people went on trips with XLP. It is these relationships that produce trust with young people, which in turn allows a belief that positive change is possible in what are very often difficult life circumstances. This progression of Trust 4 Believe 4 Change is foundationalto what we do. It takes time to fostertrust. It takes a skilled youth worker to knowwhen to encourage and when to challenge. It takes time for a young person to change their mindset and begin to believe in themselves. It needs that trust and belief to be in place for sustained change to happen.
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 We believe in buildingthese relationships with young people. and creating multiple contexts and opportunities to deepen our engagement with them. Our theory of change is centred on such relationships. Regular and consistent engagement is not only shown to be the most effective strategy in long-term change. but also necessary for young people with multiple levels of disadvantage. Our workthrough the year has continued to comprise a wide range of programmes including: A Communities Programme carrying out'detached. youth work on estates. including community bus drop-in sessions, sports and life-skills training, two mobile recording studios workingwith so-called'hard-to-reach. young people, and an arts project that trains in life skills and artistic performance The Communties Programme is comprised of: Bus Project Arts Project Sports Project A Schools Programme providing educationalsupport, mentoring, specialist lessons and clubs The Schools Programme is comprised of: Exclusion Reduction Project (ERP) Literacy and Numeracy Project {LAN) A Mentoring Programme forthose on the verge of exclusion or involvement in gangs An Employability Programme that supports young people into apprenticeships and further education by improving theirwork-readiness o The Employability Programme is comprised of: Ready to Work Project Young Leaders Project Apprenticeship Project Within all the Programmes above exist various trips. summer camps. residentials and other outings XLP aims to provide multiple contact points with children and young people, working with them in their schools, their communities and with their families. In this way, robust long-term relationships can be established between XLPyouth workers and the children and young people they workwith.
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 ACHIEVEMENTS AND PERFORMANCE 2023124 Boroughs where we work Estate communities where we work Schools and Pupil Referral Units wherewe work Totalyoung People lone-to-ones and small groups) Regularyoung People lone-to-ones and small groups) 34 34 3.765 1,630 The table below shows activities carried out duringthe year across the projects. Project Total Attendees Regular Attendees Group Sessions Total Sessions Sessions Buses 2,019 630 225 766 991 Arts 465 132 178 144 322 Sports Exclusion Reduction Literacy & Numeracy 1,138 386 127 449 576 542 217 2.099 346 2,445 260 193 325 971 1,296 1-1 Mentoring 209 79 1,075 20 1,095 Readyto Work 74 35 128 76 204 Young Leaders 116 95 79 174
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST 2024 En nt Age of Young People by Project -1 ij_i_lii I I uptolo •llto14 ffj15to17 •18to21 •22+ Gender of Young People by Project Female • Male • Nonbinary •Transgender FeMe • Transgender Male Main Ethnicity Group belonging by Project Asian llBl&k llmixed •other Iwhtte
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 nt in 12 24 To build the infrastructure of the organisation as we begin to plan to scale and grow We made progress in building up our fundraisingteam in orderto reach our target of four full-time staff by the end of 2024. The improved database (see below) and new governance of the building and church from which we operate are important steps in laying the platform for thefuture. To continue to grow the youth work towards the stated goal of every project operating in every borough In 2023124. we had 92% coverage of projects across the boroughs. To develop greater diversitywithin the senior leadership Across the organisation. the proportion of global majority heritage was 53 %, with 390 female. The gender diversity of the Senior Management Team remained at 400/0 female and 30% global majority heritage. We recognisethatthere remains roomforimprovement and are pleased to have made further progress since the year end. To continue to develop our impact management and measurement The Salesforce Administratorjoined theteam atthe start of theyear and made significant inroads into our ability to measure our inputs. outputs and outcomes. She was joined soon afterwards by the Head of Impact. and together. they have worked tirelessly on building a new Salesforce database alongside two external consultancies. This has been a hugely challenging undertaking. both in the design and build. and in training the team, and at the time of writing. we are now at the stage of improving the user experience to enable real-time data entry during project sessions. The system is already proving to be much more robust, enabling better measurement. which in turn enables better management. To maintain ourfree reserves above the three-month level as activityand expenditure increase Whilst we have seen a decrease in the value of our free reserves from £874,210 to £704.698. we have maintained the level above the three-month target at 3.2 months of charitable expenditure {2023: 4.6 months).
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 YOUTH WORK XLP revolves around young people. The following pages outline how we work through different programmes and projects to bring about change. Whilst there are clear differences between each. common elements include consistency of presence. long-term relationships and using different interests and settings to offer activities, opportunities and support. The Bus Projectworked in 23 underserved communities lastyear. operating outside schools and in the heart of local housing estates, with the agilityto move to the areas of most pressing need. Of the 23 weekly sessions. 10 were developed in partnership with local stakeholders in the community. includingchurches. community partners and housing associations. There were over 10,000 attendances on bus sessions by 2.019 young people, of which 31Wo were regular attenders, highlighting the demand for and importance of such open-access, detached youth work. This pastyear also sawthe successfullaunch of our newest bus. further strengtheningour ability to connect with young people in their communities. Given the importance of consistency. we have made key improvements to the fleet of buses. helping to extend their lifespan and reduce session cancellations. Our North London projects havefostered strong local relationships. including partnerships with a pizza restaurant and fish and chip shop that generously provide free food for young people at our sessions. These collaborations create a welcoming and supportive environment, strengthening our community presence and encouraging engagement. With expanded capacity, enhanced resources and growing community support. the Bus Project continues to play a vital role in reachingyoung people where they are, buildingtrust, and offering consistent support and opportunities. The Arts project plays a crucial role in developing young people's creativity and expression, allowing them to explore further opportunities within the arts sector. We have two main studios: our mobile recording studio housed in a large Ivecovan. and the Vault. built in the old HSBC bank vault at the XLP Youth Hub in Stratford. Together. these provide a platform for individuals to expressthe issuestheysee intheircommunities and worktowards a betterfuture through music. In addition to the advice. training and free studiotime provided. the Arts team also run showcase events for young people, together with a weekly drop-in for 45 young people lon average} who practice a range of art forms. In the South East quad, XLP delivered targeted, trauma-informed Drama workshops for girls, focussing on identity. belonging and healthy relationships. Developing skills such as screenplay 10
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 writing and performance techniques was complemented by trips to West End shows, and the project culminated with a public performance of their creation in July 2024. In total. over 13 industry-specific trips took place during the year. including a group visit to the iconic Abbey Road Studios. where the young people spent the weekend developing their music and soaking upthe atmosphere, all made possiblethrough our partnershipwith Universal Music. The Sports Project continues to grow, not only as a programme, but as a thriving community where young people experience the transformational effect of sport. Last year, we averaged 145 attendees across the weekly two-hour football training sessions. tournaments. showcase matches and opportunities against professional academies. Through these strands of provision. we provide a plattorm for young people to develop their skills. build confidence and foster a sense of belonging. We also offer targeted one-to-one mentoringand weekend matches with the XLP 11-a-side team. ensuring consistent supportfor those who need it most. Our commitment also extends beyond football. This pastyear. we ran half-term trips. a bike club and two weekly gym sessions. Through our running club in collaboration with the Outrunners Youth Charity, two members of staff and two young people completed the 2024 London Marathon. A core element of the Sports Project is young people leading change. Those towards the end of XLP'S Journey of Change (Trust -> Believe -> Change -> Contribute) have played a crucial role in strengthening the team. Their dedication and leadership have helped us expand our reach. introducing peer mentoring and creating a welcoming environment for new participants. In doing so, they are also developingtheir own skills and confidence. Sport is an excellent tool to help young people make new friendship groups, grow in confidence and aspiration, and develop new skills - both sport-related and life skills. The Sports sessions are popular and well attended. representing over 20% of our overall attendance across XLP. Indeed. some of the young people whojoin the sessions have been with XLP for many years now and are being encouraged to become futurevolunteers and trainers, providing peer support and acting as role models foryounger members. mm The Exclusion Reduction Project takes young people at risk of school exclusion through a course of 1-1 and/or group mentoring sessions that aim to help them grow in confidence and motivation for their education. In doing so. it increases the likelihood that they will stay in school. Exclusion from education increases the chances of involvement in crime and serious youth violence, and in many cases leads to unemployment or custodial sentences. 11
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 Last year, we worked in 34 schools across London (29 mainstream comprehensive secondary schools, three Pupil Referral Units and two SEN Schools) and supported 542young people at risk of exclusion. ofwhich 87% stayed in education. XLP has also excelled in deepening relationships with schools: our growing relationships have enabled us to remain agile in adapting to both internal and external changes as they arise. and has provided a strongerframeworkfor delivering impactful work across diverse contexts. ensuring that we can continue to meet the evolving needs of young people at a crucial stage of their development. Manyyoung people develop their identity, aspirations and sense of belonging in schools. At XLP. we recognise the transformative impactof engagingwithyoungpeople in theirschools, alongside their communities and homes. Our school-based engagement is part of a holistic approach, enabling us to empoweryoung people. foster resilience and create lasting change in their lives. The Literacy and Numeracy (LANI projectworked in 11 schools with some 260 young people overthe year. There are two main elements to the project: 1. Group and one-to-one tutoringwithin schools for young people in years 7 to 9 using the SAFMEDS ISay-All-Fast-Minute-Every-Day-Shuffled) approach. This precision teaching tool helps us to identifyweaknesses in a child's learning and support them in different areas. 2. One-to-one tutoring led by trained volunteers who are matched with young people. These young people receive one hour of tuition perweekwith the goal of helpingthem to raise their predicted grades and pass their GCSE'S. The young people fit into four main groups: those workingtowards resitting exams between September and December b. those studyingfortheir mock exams c. those studyingtowards summer GCSE'S summer tuition for those preparing to starttheir GCSE year All the young people in the LAN Projectfaced some level of disadvantage. including special education needs ISENISENDISEMH and neurodiversity). English as an Additional Language IEALI, and others with Education Health Care Plans (EHCPI. Of the 260 young people we supported, we obseNed an improvement in the skills acquired by an average of 83%. This included: Young people with diagnosed dyslexia= Young people with ADHD: Young people with EAL: 53% improvement 100% improvement 91% improvement The LAN project has also played an active role in empowering young people to gain broader confidence in school and social contexts, as evidenced by schools and family members, who have shared their impressions ofthe difference this project has made. The engagement of young people in the LAN Project often goes beyond school time, and their relationships with trusted youth workers encourage them to participate in wider XLP activities. such as the Sports. Arts. Bus and Mentoring Projects.
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 Pr mm Mentoring provides a consistent adult supporter, advisor and role modelwho can give relational, tailored support to young people. based on the barriers they face. We were able to grow the programme significantly in 2023124 in large part due to the continued support of the Greater London Authority {Propel Fund). The programme works to match trained volunteers with young people - referred by schools, statutory seNices and health services-who meetforweekly mentoring sessions throughout the year. Sessions consist of visiting local cafés. parks and local attractions - to have fun. build connection, support their education and expand their worldview. Once a year, mentors and mentees go awayfor a weekend residentialto help cement their relationships and this is often a place of real breakthrough. with many young people leaving London for the first time (see ResidentialTrips and Summer Camps below). In the pastyear. we received over205 referralsfrom statutory services {60% of referrals). the NHS and schools, reinforcing the importance of XLP'S work in preventing and alleviating crises, particularly in light of the longwaiting lists for mental health and wellbeing seNices experienced by young people in London. Recognising the diverse needs of young people. we introduced a second yearly mentoring residential: a smaller. alternative trip specifically designed for young people experiencing high levels of anxiety, those with neurodiversity needs, or anyyoung person who might find larger residentialtrips ovemhelming. We continue to train other organisations. sharing our expertise and experience with others around the country, including a new mentoring partnership with CHIPS In Lambeth, trainingtheir volunteers and connecting them with young people in need of support. Em Pr mm The Employability Programme has three distinct projects helpingyou people who are- or are at risk of becoming- NEET {Not in Education. Employment. orTrainingi: 1. Readyto Work Project. working with thosewho are currently NEET 2. Young Leaders Project. workingwith 16-18 year-olds at risk of becoming NEET 3. Apprenticeship Project. trainingyoung people who would otherwise be NEET The Ready to Work Project starts with a six-week course, offering employability support and guidance to young people who are NEET. followed by a year of support for each young person. The project helps young people develop the mindset. resources and skills needed to take their next steps. and thisyearwe successfully delivered four cohorts (September, January. March and July) to 74young people, 91% of whom completed the programme. One highlight ofthe year was the Summer 2024 cohort, where 100 % ofyoung people completed the six-week course, and 92 of participants moved into education or employment.
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 This year saw the expansion of XLP'S neMork of company partnerships. offering young people unique insights and experiences across industries such as music. creative arts. construction. architecture and finance. Helpingyoung people to overcome the anxiety theyfeel around travel to these visits has become a significant aspect of the project and is clearly an important step in becomingwork-ready. In 2023124, nine active cohorts of small groups met regularly In community centres, churches, schools and other relevant places known to the young people, close where they live or attend other XLP projects. These monthly sessions focussing on life skills, leadership skills, and developing the competencies and opportunities needed to gain employment- are consolidated through regular one-to-one meetings between each young leader and their youth worker. One important tenet of the project is the co-design of activities where young people are encouraged to design their own sessions, trips and the annual residentialtrip. In 2023124 we trained our largest cohort of apprentices to date- 11 young people, eight of whom were already known to XLP, having come through various projects as young people, including six through theyoung Leaders Project. Allapprentices have a passionto work with young people and to find a way to contribute to their communities. and as part of the year. they complete a level 2 youth work qualification. To date, ten of the apprentices continue to work in the youth work sector, of which two work as XLP Youth Workers. An incredible 803 young people attended 174 trips and 21 residentials {overnight trips). This comprised almost 50% of the regular young people who attended XLP projects. Some trips and residentials are project specific. others are area specific. whilst others are open to all. The destinations are often decided by and with the young people. These opportunities are highly prized byyoung people and theirfamilies. as they help to broaden horizons, and enable young people to visit new places and create life-long memories. These opportunities further build the positive relationships with youth workers and volunteers and create new friendships with other young people from different areas of London with different backgrounds and cultures. It is often on such trips thattransformational moments are seen, with real breakthrough across the ages. The Youth Advisory Group consists of young people who have grown up as beneficiaries of XLP. New members are selected bythe group annually. with older members leavingto make space for them. The aim of the group is to amplifythe voice of young people and shape the direction of the charity. They meet monthlyto discussXLP and offerfeedbackand suggestionsfor improvements to projects and the work of XLP. 14
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 Each member receives group and individual leadership training and mentoring support throughout their time on the YAG. and members regularly volunteer across XLP projects and trips, becoming true ambassadors of XLP. and of youth work more broadly. The group is also actively involved in the recruitment process for new youth work staff and represents XLP at corporate and fundraising events.
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 FINANCIAL AND RISK REVIEW Total Income received fortheyearwas £2.469.619, £42.849 {2%1 lowerthan £2,512,468 for 2023. Despite shovving this slight decrease. this is a good result in light of the complexity of raising funds in the current environment. with the demand for charityfunding continually increasing. The main sources of voluntary income for the period are set out in Note 2. The charity is hugely gratef ul to all its donors. Expenditure of £2,834,189 showed a significant increase of £398.050 {16910) from £2,436,139 for 2023. This is a smaller increase than the previous year. and reflects both an increase in the size of our team and the increase in costs of running projects within the current economic environment. This expenditure enabled us to deliver our services in 34 schools this year {2023: 38) and on 34 estates12023: 34). This allowed us to deliver 7.103 youth work sessionsthroughout the year. up 28% 12023: 5.5371. We also invested significantly in redeveloping our impact measurement system. having secured fundingforthis. This performance resulted in restricted funds decreasing to £343.821 {2023.- £574.253) and free reserves decreasingto £704,69812023- £874,210). The decrease in restricted funds results from strategically growing our activity and targeting our fundraising to ensure we were again able to use funds that had been held over from previousyears. Overall donations and legacies of £2.371.557decreased by4Wo12023: £2.470.276). This included a decrease on non-bus grants of £26.541 12 % I to £1,226k12023- £1,252kl and a decrease on donations from businesses of£85.211 {15%1 to £484k{2023= £569k). Other donations decreased by £123,1481310/0l to £274k {2023: £397k) but income from events increased by £152.974 {513%) to £183k {2023- £30kl- this is a significant increase on the previous year and reflects the success of our annual dinner and use of online giving platforms. Grants for the running of the bus project increased by£33,242 {22%}to £185k12023= £152kl. and the use of capitalfunds carried overfrom 2023 enabled our newest bus to be equipped and enter service this year. We did not seek any new capitalfundingforthis {2023: £50k). XLP does not use a professional fundraising service and has not received any complaints from donors regarding our fundraising activities. Our principalexpenditure is staff costs. In the lasttwelve months. these increased by nearly 14%, through a combination of increased team size and significant increases in both the London Living Wage and Apprentice Minimum Wage. In setting salaries at the start of the year. the organisation was also attentive to the continued increases in the costof living. Staff costs are expected to rise further over the next 12 months with the increased costs of employment following the increase to the Employers. National Insurance rate from April 2025. The costs of running our projects continued to increase this year through a combination of the economic climate and our increased capacity to deliver more youth work due to having a larger staff team. Ourfundraising ratio remained at7% ofthetotalof voluntary income and activities forgenerating funds. This will increase next year. as we have increased the size of our fundraising team to provide more capacityto secure funding in the current economic circumstances. Support costs increased by less than 2% as set out in Note 8.
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 Fixed assets increased to £246.671 (from £211.297). as we equipped our latest bus ready for project use and replaced our minibus. Current assets largely comprise cash on deposit. Debtors largely relate to accrued income that related to the financial year but was received post year-end. The main -creditor" is deferred income of £347.801 representing grants given in 2023124 for work thatwill take place in the ne)rt financialyear. The policy aims to establish free reserves at a level to cover at least three months of charitable expenditure. Free reseNes comprise unrestricted funds not represented byfixed assets. Atyear- end. free reseNes of £704.698 represented 3.2 months of cover. a decrease from 2023 1£874.210' 4.6 months). As the costs of running the charity's activities continue to increase. we will seek to increase the value of free reserves in the coming year in order to maintain the three- month reseNe position. In addition to the free reserves, the charity also holds restricted funds of £343,821 and a fixed asset fund of £246,671. givingtotalfunds of £1.295.190 at 31 August 2024. The trustees have reviewed the outturn for the year noting the progress made against the approved budgetfor 2024125. Followingthis and the reviewof our funding position goingfomard, thetrustees have a reasonable expectationthatthe charitywill have sufficient resources to meet its liabilities as they fall due for the foreseeable future. The trustees therefore consider it appropriate for the accounts to be signed on a going concern basis. 17
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 The trustees conduct an annual review of the major risks to which the charity is exposed and the controls established to mitigate those risks. The trustees consider that the most significant current risks to XLP relate to safeguarding recognisingthe challenging environments in which we operate. lack of suff icient funding recognising the current economic climate, and loss of key personnel / lack of staff capacity recognisingthe general lack of trained youth workers. The safeguarding policy and procedures of the Charity are reviewed by trustees. the Chief Executive Officer. the Director of Youth Work and the Head of Safeguarding. Trustees all complete relevant safeguarding training and are updated regularly at Board meetings on safeguarding matters. All staff are trained annually in safeguarding and training is provided for mentors and other volunteers including Trustees. The charity's funding strategy encourages a diversification of funding sources whilst continuing to expand the funding base for the charity. Funding is received from charitable trusts, major private and corporate donors, fundraising events and donations from churches and individuals. The Executive and Senior Management teams cover the core areas of the organisation (youth work. safeguarding. impact. culture. finances and fundraising) and provide continuity in times of absence.
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 PLANS FOR FUTURE PERIODS The charity plans to continue its present activities in future years, and to add activities as resources permit. Ourfocus during 2024125will remain on the activities in our existing boroughs with young people, whilst delving deeper into impact management and preparingfor growth. Key goals for 2024125 are: To continue to build the infrastructure and fundraising capacity in preparation for the f uture To ensure consistent delivery of excellent youth work across the organisation To ensure all slaff understand XLP'S expectations and policies (particularly around safeguarding). as well as their role responsibilities. and are held accountable To develop greater diversity and inclusion at senior level To ensure managers have clear and accessible evidence to make good decisions To maintain our free reserves above the three-month level as costs increase
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 STRUCTURE. GOVERNANCE AND MANAGEMENT The charity was established under a Memorandum of Association and is governed under its Articles of Association. Trustees are appointed with reference to relevant skills, diversity and XLP'S values. Under the Articles, new trustees are appointed by the Board of Trustees and one third of the members of the Board (the longest serving) retire each year. but are eligible to be re-appointed If still qualif led. New trustees go through an induction process and receive trustee training as appropriate. The trustees schedule four quarterly meetings a year and hold further meetings during the year as required. During the financial period. the trustees met as a Board six times. The organisation is led by the Board of Trustees. which oversees and monitors the work of XLP and makes decisions on overarching issues such as vision and long-term strategy. and agrees the budget in conjunction with the Chief Executive (CEO). The oversight of the day-to-day work of XLP is delegated to the senior managers and led by the CEO. The trustees appoint a small committee of trustees to agree the remuneration of the CEO and other senior staff. Operations (youth work) and Support Services lofficel teams meet regularly and take responsibilityfor XLP'S day-to-day operations and seNice delivery. XLP works in association and partnership with a number of local organisations, in furtherance of its charitable purposes. These include schools. Pupil Referral Units and other Alternative Provision establishments. London Borough Councils. Youth Offending Teams. various Housing and Tenants, Associations, the Police. Police Community Support Officers. and Safer Neighbourhood Teams.togetherwith otherlocalcharities. XLPalsoworkswith a numberofyouth work organisations and churches across London. 20
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 STATEMENT OF TRUSTEES. RESPONSIBIUTIES The trustees (who are also directors of XLP 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 GenerallyAccepted Accounting Practice). Company law requires thetrustees to preparefinancial statementsfor eachfinancialyear. Under company law the trustees must not approve the financial statements unless they are satisfied that they 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: select suitable accounting policies and then applythem consistently. obseNe the methods and principles in the Charities SORP 2019 {FRS 1021. make judgments and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless it is inappropriate to presume thatthe charitable companywill continue in operation. 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 ensurethatthefinancial statements complywith the CompaniesAct 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps forthe prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditor is unaware. and the trustees have taken all stepsthattheyoughtto havetaken to makethemselves aware of any relevant audit information and to establish that the auditor is aware of that information. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and complywith the charity's governing document. the Charities Act 2011 and 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 published on 16 July 2014. 21
XLP-TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31-AUGUST2024 This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies. exemption. Approved bythe Trustees on 9" April 2025 and signed on their behalf by". Mr E F C Donaldson OBE (Chair) 22
XLP- INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF XLP FOR THE YEAR ENDED 31"AUGUST2024 Opinion We have audited the financialstatements of XLP{the'charitable company'l fortheyearended 31 August 2024 which comprise Statement of Financial Activtties. Balance Sheet. Statement of Cash Flows and notes tothe financial statements. including signtficant accounting policies. The financial reportingframeworkthat has been applied in theirpreparation isapplicable lawand United Kingdom Accounting Standards, including Financial Reporting Standard 102 TheFinancialReportingStandard applicablein the UKandRepubbcoflreland{United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statemerrts: give a true and fairview ofthe state of the charitable company's affairs as at 31 August 2024, and of its incoming resources and application of resources. including its income and expenditure. fortheyearthen ended. have been properly prepared in accordance wth United lthngdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted ouraudit in accordancewith Intemationalstandards onAuditinglUK} IISAS IUK)) and applicable Law. Our responsibikn'ties underthose standards arefurther described in the auditor responsibilitsesforthe audit of thefinancialstatementssection ofour report. We are independent of thecharitable company in accordancewith the ethical requirements thatare relevantto ourauditof thefinancialstatements in the UK. includingthe FRC'S Ethical Standard, and we havefulfilled our other ethical responsibilities in accordance with these requirements. We believethatthe audit evidencewe have obtained is sufficient and appropriateto provide a basisforouropinion. Conclusions relatingto going concern In auditingthe financial statements, we have concluded thatthe 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 identrfied any material uncertainties retatingto events or conditions that. individuallyor collectively. may cast significant doubt on the charitable companvs abilityto 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 responsibiltties of thetrustees wtth respect to going concern are described in the relevant sections ofthis report. Other information The other information comprises the information included in thetrustees, annual report. otherthan thefinancialstatements and ouraudrtorfs reportthereon.Thetrustees are responsibleforthe other infomiation. Our opinion on the financial statements does not coverthe other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read theother information and. in doingso, considerwhethertheother information is materially inconsistent wth the financial statements or our knowledge obtained in the course of the audit or othewse appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determinewhetherthis gives riseto a material misstatement inthefinancialstatementsthemselves. If. based ontheworkwe have performed, we concludethatthere is a material misstatement ofthis other information. we are required to reportthat fact. We have nothingto report in this regard. 23
XLP- INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF XLP FOR THE YEAR ENDED 31"AUGUST2024 Matters on which we are required to report byexception We have nothingto report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regu10n82o08 require usto reporttoyou if, in ouropinion: the information given in the tnjstees, report is inconsistent in ary material respect with the financial statements. or sufficient accounting records have not been kept: or thefinancial statements are not in agreementwiththe accountingrecords. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As exptained morefully in the trustees, responsibiltties statement set out on page 21. the trustees (who are also the directors of the charitable companyforthe purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fairview, and forsuch intemalcontrol asthetrusteesdetermine is necessaryto enablethe preparation offinancial statements that are free from matenal misstatement. whether due to fraud or error. In preparingthefin8ncialstatements.thetTUStees are responsibleforassessingthe charitable companWs abilityto continue asa goingconcern. disclosin& asapplicable. matters related to going concern and usingthe goingconcern basis ofaccountingunlessthetrustees either intendto liquidate the charitable compary orto cease operations. or have no realistic altemative but to do so. Auditor responsibilities forthe audit of the financial statements We have been appointed as auditor under section 144oftheCharitiesAct 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole arefreefrom material misslatement. whelherduetofraud or error. andto issue an audilorfs report thatincludes ouropinion. Reasonable assurance isa high levelof assurance. but is not a guarantee that an audit conducted in accordancewith ISAS IUKI willalwaysdetect a material misstatement when itexists. Misstatementscan arisefrom fraud orerror and areconsidered materialif. individually or in the aggregate,theycould reasonablybe expectedto inftuence theeconomic decisions of users taken on the basis ofthesefinancialstatements. Irregularities. including fraud. are instances of non-compliance wtth Laws and regulations. We design procedures in line with our responsibilites. outbned above, to detect material misstatements in respect of irregularities, includingfraud. The extent to which our procedures are capable of detecting irregularities. includingfraud is detailed below. Our approach to identtying and assessingthe risks of material misstatement in respect of irregularities. includingfraud and non-compliance wth Laws and regulations. was as follows. The engagement partner ensured thatthe engagementteam collectively had the appropriate competence. capabilities and skillsto identify or recognise non-compliance wth applicable laws and regulations. We assessed the susceptibitity of the company's financial statements to material misstatement, includingobtainingan undeistandingof howfraud mightoccur by. Makingenquiries of managementastowheretheyconsidered therewas susceptibilitytofraud, their knowledge of actual, suspected and alleged fraud Considering the intemal controls in pla to mitigate the risks of fraud and non-compliance with laws and regulations. To addressthe risk of fraudthrough managementbiasand override of controls.we' Performed analytical procedures to identityany unusual or unexpected relationships Tested journal entries to identfy unusualtransactions. In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which included. butwere nottsmttedto: 24
XLP- INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF XLP FOR THE YEAR ENDED 31"AUGUST2024 Agreeingfinancial statement disclosures to underlying supporting documentation Reading the minutes of meetings of those charged with govemance Enquiring of management as to actualand potential lrtigation and claims. Because of the inherent limrtations of an audit. there is a riskthatwe wll not detect all irregularities, includingthose leadingto a material misstatement in thefinancialstatements or non-compliance wth regulation. This risk increasesthe morethatcompiiancewith a Laworregulation is removedfrom the events and transactions reflected in the financial statements. as we will be less likelyto become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud ratherthan error. asfraud involves intentionalconcealment. forgery. collusion. omission or misrepresentation. As partof an audit in accordancewith IS4s IUK).weexercise professionaljudgmentand maintain professionalscepticismthroughouttheaudit.weaLso: Identify and assessthe risks of material misststement of the financial statements. whether due tofraud orerror, design and perform auditprocedures responsivetothose risks, and obtain auditevidencethat is suff icientand appropriate to provide a basisfor ouropinion.The risk of not detecting a material misstatement resultingfrom fraud is higher than for one resultingfrom error. asfraud mayinvolve collusion.forgery, intentionalomissions, misrepresentations, orthe override of internal control. Obtain an understandingof internalcontrol relevanttothe audit in orderto design audit proceduresthat are appropriate in the circumstances. butnotforthe purpose ofexpressing an opinion on the effectiveness ofthe charitable companVs internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and retated disclosures made by the trustees. Conclude on the appropriateness ofthe trustees. use of the goingconcern basis of accountingand. based on the audit evidenceobtained. whethera material uncertaintyexists related to events or conditions that may cast significant doubt on the charitable company's abilityto continue as a goingconcern. tfweconcludethat a material uncertainty exists, we are required to draw attention in our auditorfs report to the related disclosures in the financial statements or, ifsuch disclosures are inadequate.to modityour opinion. Ourconclusions are based on the auditemdence obtained uptothedate of ourauditoff s report. However.future events or conditions may cause the charitable companyto ceaseto continue as a going concern. Evaluate the overall presentation, structure and content ofthefinancial statements, including the disclosures, and whetherthefinancialstatements representthe underlyingtransactions and events in a mannerthat achievesfair presentation {ie. gwes atrueand fairviewl. We communicatewith those chargedwthgovemance regarding. amongother matters, the planned scope and timing of the audit and significant audtt findings, includingany significant deficiencies in intemal controlthatwe identfyduringouraudit. 25
XLP- INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF XLP FOR THE YEAR ENDED 31"AUGUST2024 Use of our report This report is made solely to the charitable companys trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so thatwe might state to the charitable companrfs trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilityto anyoneotherthanthe charitable company andthecharitable CoMpanS trustees as a body. forour auditwork. forthis report. orfor the opinionswe have formed. Edmund Carr LLP EDMUND CARR LLP Statutory Auditor 146 New London Road Chelmsford Essex CM2 OAW Date: 10 April 2025 Edmund Carr LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. 26
XLP- STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDttURE ACCOUNT) FOR THE YEAR ENDED 31-AUGUST 2024 STATEMENTOF FINANCIAL ACTIVITIES 2023124 2022123 Unrestricted Restricted Total Total Irestatedl Note Income from: Donations and legacies Charitable Activities 729,151 650 1,642,406 480 2,371,557 1,130 96,932 2.470,276 236 38 Other trading activities 3b 92,673 4,259 41,956 Total Income 822A74 1,647.145 2.469.619 2,512,468 Expenditure on: Raising Funds 178,735 178,735 161,880 Charitable Activities 7.8.9 858.616 1.796.838 2,655,454 2,274,259 Total Expenditure 1,037,351 1,796.838 2.834.189 2,436,139 Net incomellexpenditure) 1214.877) (149,693) (364,570) 76,329 Transfers between funds 14 80,739 {80,739) Net movement in funds 1134,138 (230,432) (364,570) 76,329 Reconciliation of Funds Total Funds brought forward 1.085.507 574.253 1.659.760 1.583.431 Total Funds carried forward 951,369 343.821 1,295,190 1,659.760 The statement offinancial activities includes all gains and losses in the year. 27
XLP- BALANCE SHEET AS AT31-AUGUST 2024 BALANCE SHEEr 31st August 2024 31st August 2023 Irestatedl Note Fixed Assets Tangible Assets 246.671 211,297 Current Assets Stock Debtors 2,242 461.659 1.349,000 1,812,901 12 402.250 1,130,550 1,532,800 Cash at bank and in hand Current Liabilities Creditors: amounts falling due within one year 13 484,281 364,438 Net CurrentAssets 1.048.519 1,295,190 1,448.463 1,659.760 Net Assets Funds of the Charity Restricted Income Funds 14 343.821 704,698 246.671 574,253 874,210 211,297 Unrestricted General Funds Unrestricted Fixed Asset Funds 15 15 Total Charity Funds 1.295,190 1,659,760 Forthe year ending 31st August 2024the companywas entitled to exemption from audit under section 477 of the CompaniesAct2006 relatingto smallcompanies but asthis company is a charity. it is subject to audit under the Charities Act 2011. Directors, responsibilities- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476: The directors acknowledge their responsibilities for complyingwith the requirements of the Act with respectto accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. Approved bythe board on 9" April 2025 and signed on its behaLf by Mr E F C Donaldson OBE (Chairl Company Registration no. 4959458 28
XLP-STATEMENTOFCASH FLOWS FOR THE YEAR ENDED 31-AUGUST 2024 STATEMENTOF CASH FLOWS 2023124 2022123 (restated) hfl fr tin tiviti Net cash provided by (used in) operating activities (Note 1) (107,860} (158,616) Purchase of fixed assets Net cash provided by (used in) investing activities 1110,590) (110.590} {47.5701 (47.570) Net cash provided by (used in)financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents atthe beginning of the reporting period Cash and cash equivalents atthe end of the reporting period {Note 2) (218,450) 1,349.000 (206,186) 1,555,186 1,130,550 1,349,000 Net incomel(expenditure) forthe reportingperiod Adjustments for: Depreciation Loss on disposal of fixed assets Ilncreaselldecrease in stocks Ilncreaselldecrease in debtors Increasel(decrease) in creditors Net cash provided by (used in) operating activities (364,570) 76,329 74.685 530 81.992 2.242 59,410 119.843 (107,860} 1349,1811 32,244 (158,616) Analysis cash and cash equivalents Cash in hand Notice deposits Total cash and cash equivalents 861.928 268.622 1.130.550 1.092,545 256,455 1.349.000 29
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES Basis of A¢¢ounting The financial statements have been prepared under the historical cost convention. and in accordance with the Statement of Recommended Practice= Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014. the Financial reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS1021- the Charities Act 2011- and UK Generally Accepted Practice as it applies from 1 January 2019. The charity constitutes a public benefit entity as defined by FRS102. bl Going concern The Charity is funded from 8 diverse number of sources. including charitable trusts. major private and corporate donors, fundraising events an(J donations from indivi(Juals, churches, and other local organisations. As such. it is not reliant upon one source of income. Taking this into account together with the strength of the balance sheet an(i their review of performance against plan to date, the Trustees believe that. while uncertainty exists. there is no material uncertainty reg8rding the Charity's ability to continue as a going concern and consequently consider that the financial statements are appropriately prepared on such a basis. Recognition of income Income is included in the Statement of Financial Activities when the charity becomes entitled to the resources. it is more likely than not that the charitywill receive the resources and the monetary value can be measured with suff icient reliability. dl Incoming resources Donations and grants are included in the accounts when the general income criteria are met. When donors specify they are to be used for a future accounting period they are treated as deferred income. Fees received for courses commencing after the period end are 81s0 recognised as deferred income. Contributions, fees and tax recoverable from the Inland Revenue under the Gift Aid scheme are recognised on an accruals basis when there is a valid declaration f rom the donor. Resources Expended Expenditure is accounted for on an accruals basis. inclusive of VAT. whic h cannot be recovered. The majority of costs are attributable to specific charitable activities. Support costs include central f unctions and are allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating staff costs by the time spent and other costs by their usage. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. fl Capitalisation and Depreciation All fixed assets are initially recorded at cost. Tangible fixed assets costing more than £500 are capitalised in the accounts. Depreciation is calculated so as to write off the cost of an asset. less its estimated residual value, over the useful economic life of that asset as follows: Office Equipment- computers 50% straight line. other equipment 25% straight line Motor Vehicles- 20% straight line Fixtures & Fittings- 10% straight line 30
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 gi Stocks Stocks held for resale are measured at the lower of cost or net realisable value. h) Pensions XLP contributes to a defined contribution pension scheme on behalf of employees the cost of which is disclosed in note 4 below. Funds accounting Funds held bythe charitable companyare: Unrestricted general funds funds that can be used in accordance with the charitable objects at the discretion of the trustees. Fixed Asset funds-funds committed to fixed assets as setout in note 15. Restricted funds-funds that can only be used for particular purposes within the objects of the charitable company. Restrictions arise when specified bythe donoror when funds are raised for particular restricted purposes. The nature and purpose of each fund is explained further in the notes to the financial statements. Operating Leases Rentals under operating leases are charged on a straight-line basis over the lease term. kl Taxation The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Sche(Jule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Debtors and creditors receivable I payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from im pairment are recognised in expenditure. Donated goods and $eNices Goods donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. If it is practical to assess the fair value at receipt. it is recognised in stock and 'Income from other trading activities. Upon sale. the value of the stock is charged against'lncome from other trading activities, and the proceeds are recognised as'lncome from other trading 8Ctivities'. Where it is impractical to fair value the items due to the volume of lowvalue items, they are not recognised in the fin8ncial statements until they are sold. This income is recognised within 'lncome from other trading activities,. 31
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 DONATIONSAND LEGACIES 2023124 Unrestricted Restricted Total Donations from churches Donations from businesses 10.382 158.604 271.977 9,926 325,507 1,767 184,860 20,308 484,111 273,744 184,860 Other Donations Grants for bus project Capital Grants Other grants Total Donations and grants Income from events 105,403 546.366 182.785 1,120,346 1.642,406 1,225,749 2,188,772 182,785 2,371,557 729.151 1.642,406 Government grants totalled £382.998 of income- of this. £360,592 is included within restricted "Other grants" above whilst £22,406 is included within restricted -Grants for bus project" 2022/23eompBrative figureslrestated)." 2022123 Unrestricted (restated) Restricted Total (restated) Donationsfrom churches Donations from businesses 14,703 267.097 386.462 5,640 302.225 10,430 151,618 50,000 1,144.273 1.664.186 20,343 569.322 396,892 151,618 50,000 1,252,290 2,440.465 29,811 Other Donations Grants for bus project Capital Grants Other grants Tot81 Donations and grants Income from events 108,017 776.279 29,811 806.090 1.664.186 2.470.276 Government grants totalled £446,130 of income- of this, £383,464 is included within restricted "Other grants" above whilst £62,666 is included within restricte(J "Grants for bus project" 32
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 al INCOME FROM CHARITABLE ACTIVITIES 2023124 Unrestricted Restricted Total Training Fees 650 480 1,130 650 480 1,130 2022/23eomparative flgures.. 2022123 Unrestricted Restricted Total Training Fees 236 236 236 236 b} INCOME FROM TRADING ACTIVITIES 2023124 Unrestricted Restricted Total Spe8king engagements Sales & other contributions to costs 6.596 4,259 10,855 Rental income 26.890 26.890 Bank credit interest 12.167 12,167 Sale of assets 47,020 47,020 92.673 4.259 96.932 2022/23eomparatlve flgures.. 2022123 Unrestricted Restricted Total Speaking engagements Sales & other contributions to costs 12.207 2,701 14.908 Rental Income 27,048 27,048 39.255 2,701 41.956 33
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 STAFF COSTS Employment Costs 2023124 Total Gross Pay Pensions Contributions Social Security costs (Employers National Insurance) Other employee benefits 1,828,049 38,526 168.153 5,271 2,039,999 bl An average of 65 peoplewere employed bythe company during the year ofwhich 8 were part-time. One employee received remuneration benefits of between £70.000 and £80,000. Total earnings of key management personnelwas £86.326. dl The trustees received no remuneration (Juring the year. The charity purchased trustee indemnity insurance on behalf of the trustees. Trustees. expenses reimburse(J (Juring the year amounted to nil. Totaltermination payments amountto £5.27112023- £5.0001 and related to statutory redund8ncy p8yfor two members ofstaff and compensation fortermination ofemployment of one member of staff. 2022/23¢omparatwe figures.. fl Employment Costs 2022123 Total Gross Pay Pensions Contributions 1,607,577 32.889 150.236 Social Security costs (Employers National Insurance) Other employee benefits 5.000 1,795,702 gi An average of 59 peoplewere employed bythe companyduringthe year ofwhich 7 were part-time. One employee received remuneration benefits of between £70,000 and £80,000. Total earnings of key management personnelwas £82,783. hl The trustees received no remuneration during the year. The charity purchased trustee indemnity insurance on behalf of the trustees. Trustees, expenses reimbursed during the year amounted to nil. Total termination payments amount to £5,000 {2022 - £Nill and related to compensation for termination of employment of one memberof staff. 34
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 TAXATION As a registered charity, the entity is entitle(i to those reliefs from taxation which are available to charities. RAISING FUNDS Unrestricted Restricted 2023124 Costs of generating donations Salaries Othercosts 128.680 14.272 142,952 35,783 128,680 14.272 142,952 35,783 Fundraising event costs 178,735 178,735 2022/23conFpATrotive figures.. Unrestricted Restricted 2022123 Costs of generating (ionations Salaries 87.769 17.915 105.684 26.196 30.000 117,769 17,915 135.684 26.196 Othercosts 30.000 Fundraising event costs 131,880 30,000 161,880 35
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 ANALYSIS OF COSTS OF CHARITABLE ACTIVITIES Training Borough and other outreach work 2023124 Projects Salaries 286.868 1.377.113 1,663,981 Bus and transport costs 60.426 79,369 139,795 Direct Project Costs 53.350 195.973 249,323 Donations and sponsorships Support Costs (note 8 114.722 426,274 540,996 Governance Costs {note 91 13.008 48.351 61,359 528,374 2,127,080 2,655,454 2022/23¢on7p8rotwe figures.. Training Borough and other outreach work 2022123 Projects Salaries 208.950 1,208,549 1.417,499 Bus and transport costs 53.726 82,606 136,332 Direct Project Costs 48.404 178.098 226,502 Donations and sponsorships Support Costs (note 81 78.963 359,721 438,684 Governance Costs {note 91 45.298 55.242 399,987 1,874,272 2,274.259 36
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 SUPPORT COSTS Training Borough and other outreach work 2023124 Projects Salaries 48.750 18.866 30,684 16.422 181,128 70.094 114,035 61.017 229,878 88.960 144,719 77,439 Office Accommodation IT Equipment and support Office 8nd admin costs 114.722 426,274 540,996 2022/23¢onFpATrotive figures.. Training Borough and other outreach work 2022123 Projects Sa18ries 42.990 12.336 9.424 14.213 195.848 56,196 42.930 64.747 238.838 68,532 52.354 78,960 Office Accommodation IT Equipment and support Office and admin costs 78.963 359.721 438.684 GOVERNANCE COSTS 2023124 2022123 Fees payable to auditor Inote 101 Legal Fees Salaries 20,678 1.381 17,460 21,840 61,359 16,940 1.906 16,596 19,800 55,242 Consultancy Fees 37
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 10. NET INCOME FOR THE PERIOD 2023124 2022123 This is stated after charging= Depreciation Operating lease rentals 74,685 12,064 86.749 81,992 4,621 86,613 Fee p8y8ble to auditor: Audit 12,800 7.878 10.450 6,490 Payroll Serwces 20.678 16.940 11. TANGIBLE FIXED ASss Furniture & Fixtures Motor Vehicles Equipment Total COST At 1 September 2023 Additions Disposals At31 August 2024 16,224 493,083 105,367 {124.7961 473,654 107.325 5,223 12.3201 110,228 616,632 110,590 1127.1161 600,106 16.224 DEPRECIATION At 1 September2023 Charge for the year Eliminated on disposal At 31 August 2024 7.976 1.623 309,812 58.992 {124.2651 244,539 87,547 14.070 12.3201 99,297 405,335 74.685 1126,5851 353,435 9.599 NET BOOKVALUE At 1 September 2023 At31 August 2024 8.248 183,271 19,778 211,297 6,625 229,115 10,931 246,671 12. DEBTORS 2023124 2022123 (restated) Income tax recoverable under gift aid scheme Other debtors 86,155 141,521 174.574 54.257 89,367 318,035 Prepayments and accrued income 402,250 461,659 38
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 13. cREDORS. amountsfallingduewithin oneyear 2023124 2022123 PAYE and Social Security Other creditors 37,710 86,170 360,401 484,281 39.181 33,422 291.835 Accruals and deferred income 364,438 Accruals and deferred income includes deferred income of £347.801 all of which arose in the year12022123 - deferred income of £281,835). The income has been deferred atyear end on the basis that money received in the current year relates to projects to be undertaken in future years. 14. RESTRICTED FUNDS 1st September 2023 Income Expenditure Transfers between funds Transfer tol{from) Unrestricted Fund 31st August 2024 Bus projectfunds Vehicle Capital Fund Exclusion Reduction Programme 186.260 186,260 87,043 15.000 80.739 6,304 475.127 490.127 Mentoringfunds Arts funds 126,931 280.252 326,684 80,499 46.711 126.373 133.573 39,511 188,269 Employabilityfunds Sports funds Literacy & Numeracy Impact Project {Capacityl 10 Other funds 179.023 21.667 304.302 29,111 103,040 112.000 295.056 50.778 83,849 173,340 112.000 13,549 14.029 30.680 29.020 15.689 574.253 1.647.145 1,796,838 80,739 343,821 Bus project funds include a number of grants from trusts, companies, local authorities, and local community organisations given for periods of up to three years for the operation of the Community Bus project. Larger donors to this work inclu(Jed the City Bridge Foundation, the Garfield Weston Foundation, the Royal Docks Trust, the United St. Saviour's Fun(J, and the National Lottery Community Fund. The Vehicle Capit81 Fund relates primarily to funds given in the previous year by FINHUMF and HSBC UK towards the conversion of a new community bus which entered seNice during the year. The transfer of £80.739 to the fixed asset fund relates to the costs of this conversion. 39
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 Exclusion Reduction Programme includes funds from trusts, companies. local authorities, local churches, and individuals, given in support of the work within schools and connected to schools across our boroughs, with the aim of reducing and preventing exclusions of young people f rom mainstream education. This has become the primary focus of our borough projects. Larger donors this year included The Charity of Sir Richard Whittington, The Hab(Jer(Jashers' Company, The Stewarts Foundation, The MAPP Charitable Foundation. and the National Lotterycommunity Fund. Mentoring- includes both one-off and multi-year grants for the operation of the Mentoring programme, from organisations including the Greater London Authority. the Lighthouse London Community Trust, the Sisters ofthe Holycross Ch8rit8ble Trust. and Compass Wellbeing cic. Arts Funds- funding from Universal Music, the Backstage Trust, the National Lottery Community Fund, the Benefact Trust, and others, for projects that promote the practice and expression of performing arts, including our mobile recording stu(Jio. Employability Funds - towards our Ready to Work. Young Leaders. Job Creation. and Youth Advisory Group programmes. including grants f rom the Citi Foundation. the Horlock Educational Trust, the City of London Corporation. the National Citizen Service Trust. Landsec. and others. Sports Funds-to support sports projects including football sessions, gym sessions, a running club, and a cycling club. Larger (Jonors this year included the National Lottery Community Fund. National Grid, Sport England, and Transportfor London. Literacy & Numeracy- grants from trusts and companies including the Constable Educational Trust, The Charity of Sir Richard Whittington. and the JJ Charitable Trust towards the promotion of literacy and numeracy skills in schools. This project connects closely with our Exclusion Reduction Programme. Impact Project ICapacityl- the funding received and expended this year relates to the major overhaul of our impact recording database. 10. Other Funds - includes funding received specifically for the core running costs of the charity from The Charity of Sir Richard Whittington as weti as other smaller projects. 40
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 2022/23comparatwe figures.. 1st September 2022 Income Expenditure Transfers between funds Transfer tol{from) Unrestricted Fund 31st August 2023 Bus projectfunds Vehicle Capital Fund Exclusion Reduction Programme 180.768 99.943 460,864 180.768 23.100 173,153 36,000 87,043 15,000 625,439 6,422 Mentoringfunds X-mobile 43,355 47.247 307.007 223,431 126,931 (47.2471 Arts funds 72.253 259,550 36.218 89.024 74.622 198.773 123.620 140.350 143.638 286,198 138.171 145,525 20,000 47,247 6,898 3,773 46,711 179,023 21,667 83,849 Employabilityfunds Sports funds Literacy & Numeracy 10 Impact Project {Capacityl 11 Other funds 20.000 25,450 61.176 59.277 113.3201 14,029 769,350 1.667,123 1.822,447 39,773 574,253 Bus project funds include a number ot grants from trusts, companies, local authorities, and local community organisations given for periods of up to three years for the operation of the Community Bus project. Larger donors to this work included the Garfield Weston Foundation, the London Borough of NewhamlMOPAC, the National Lottery Community Fund. and Tritax. Thevehicle C8PltalFund rel8tesprimarilytofundsgiven byFINHUMFand HSBC UKtowardsthe purchase and conversion of a new community bus during the year. The transfer of £36.000 to the fixed asset fund relates to the purchase of a bus due to enter service during 2023124 (note 151. Exclusion Reduction Programme includes funds from trusts, companies, local authorities, local churches, and individuals, given in support of the work within schools and connected to schools across our boroughs, with the aim of re(Jucing and preventing exclusions of young people from mainstream education. This has become the primary focus of our borough projects. Larger donors this year included the National Lottery Community Fund. The Charity of Sir Richard Whittington, The Habderdashers, Company, Vanguard, The Stewarts Foundation, and The Portal Trust. Mentoring- includes both one-off and multi-year grants for the operation of the Mentoring programme, from organisations including the Greater London Authority, The Henry Smith Charity, the Lighthouse London CommunityTrust, and the Sisters ofthe Holy Cross CharitableTrust. X-Mobile- the X-mobile project has always been closely linked to the Arts project, and it was decided to merge X-mobile into Arts as the year began. Therefore the remaining funds were transferred to Arts, but continued to be restricted to the specific work of the X-mobile van. Arts Funds- funding from Universal Music. the London & Quadrant Housing Trust. the London Borough of Newham, and others. for projects th8t promote the practice and expression of performing arts. Employabilityfunds-towardsourReadytoWork,YoungLeaders, Job Creation, and Youth AdvisoryGroup programmes, including grants from the Citi Foundation. the Horlock Educational Trust, the City of London Corporation, and others. 41
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 Sports Funds-to support sports projects including football sessions, gym sessions, a running club, and a cycling club. Larger donors this year included StreetGames UK. the London Marathon Foundation, the London Borough of NewhamlMOPAC, and Fightfor Peace. Literacy & Numeracy- grants from trusts and companies including the Constable Educational Trust and The Charity of Sir Richard Whittington towards the promotion of literacy and numeracy skills in schools. This project connects closelywith our Exclusion Reduction Programme. 10. Impact Project Icapacityl - the funding received and expended this year relates to the beginning of the overhaul of our impact recording database. Other Funds- the transfers from this fund to the Exclusion Reduction Programme and Employability projects relate to a re-structuring of the camps. Snow Camp provides an opportunity for young people to receive training and pursue a career in winter sports training. so has been transferred to Employability- The other residential trips and camps are overseen by the youth workers within the Exclusion Reduction team. 15. UNRESTRICTED FUNDS Resources to lund fixed assets Net Resources Generatedl Iutilisedl Transfer from Restrl¢ted Fund Transfer from General Fund 31° August 2024 September 2023 General Funds Fixed Asset Funds 874.210 1250.2511 80.739 704,698 211.297 110.590 {75.2161 246,671 1,085,507 110,590 1325,4671 80,739 951,369 The Fixed Asset Fund represents the amount of charity funds utilised in capital investments in the charity's motor vehicles lincluding its community buses), fixtures and fittings, and office equipment. The funds are carried at the net book value of the fixed assets. There are no outstanding loans. or endowment funds used to finance their acquisition. 2022/23comparative figures(restatedJ.' Resources to fund fixed assets Net Re$ource$ Generatedl IUtlli$edl (restated) Transfer from Restricted Fund Transfer from General Fund 31" August 2023 (restated) September 2022 General Funds Fixed Asset Funds 568.362 266.075 39,773 874,210 245.719 47.570 {81.9921 211.297 814,081 47.570 184,083 39,773 1.085,507 The Fixed Asset Fund represents the amount of charity funds utilised in capital investments in the charity's motor vehicles lincluding its community buses), fixtures and f ittings, and office equipment. The funds are carried at the net book value of the fixed assets. There are no outstanding loans, or endowment funds used to f inance their acquisition. 42
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 16. COMMtrMENTS UNDEROPERATING LEASES At the year end, the charity had total commitments under non-cancellable operating leases as set out below. Total 2024 Total 2023 Not later than 1 year Later than 1 and not later than 5 years Later than 5 years 10,751 33,148 4,289 9,371 43,899 13,660 The charity has entered into agreements with the Church of England for the use of All Hallows on the Wall, London Wall. Aformal lease agreement has notyet been completed. 17. ANALYSIS OF NET ASSEfs (between restricted and unrestricted funds) 2023124 Tangible fixed assets Other net assets Total Restricted 343.821 343,821 Unrestricted General Fund - Fixed Asset Fund 704,698 704,698 246,671 246.671 246,671 1,048,519 1,295,190 2022/23¢omparatwe figures{restatedJ." 2022123 Tangibl8 fixed assets Other net assets (restated) Total Irestatedl Restricted 574.253 574,253 Unrestricted General Fund - Designated Fund 874,210 874,210 211,297 211.297 211,297 1,448,463 1,659,760 43
XLP- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-AUGUST 2024 18. RELATED PARTIES The charity received donations without conditions from Trustees in the year of £9,21012023= £13,0461- There were no other related paty transactions that require disclosure under FRS102. 19. COMPANY LIMITED BY GUARANTEE The charity is a company limited by guarantee. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. 20. CONTROL The Company is controlled by its members. 21. RESTATEMENT OF PRIOR PERIOD BALANCES Restatement of prior period balances havetaken place. adjustments have been made as a result of an under provision of income from corporate donations in the Year Ended 31 August 2023. As a result, in the comparativefigures, corporate donations and accrued income have increased by£75,OOOwhich has resulted in an increase in unrestricted general funds at 31 August 2023 of £75,000.