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← Future Men

2024-03-31-accounts

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(A company limited by guarantee)

DIRECTORS’ AND TRUSTEES’ REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2024

Company No: 03443520 Charity No: 1102451

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FUTURE MEN (A company limited by guarantee)

REPORT AND ACCOUNTS

CONTENTS

STATUTORY INFORMATION

Page
Directors’ and Trustees’ Report 2 - 11
Auditor’s Report 12 - 14
Statement of Financial Activities 15
Balance Sheet 16
Statement of cash flows 17
Notes to the Accounts 18 - 30

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FUTURE MEN (A company limited by guarantee) DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31[st] March 2024, which are also prepared to meet the requirements for a directors’ report and Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statements 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).

OUR PURPOSE AND ACTIVITIES

The charity’s objects are to advance the education of and promote the physical and mental health of adults and young people particularly (but not exclusively) boys and men, by such exclusively charitable means as the trustees shall from time to time determine.

Our Vision: is a better future for every boy, every man and everyone

Our Mission: is to support and inspire boys and men to become dynamic future men, by giving them the confidence to discover what it means to be a man.

Future Men is a specialist charity that provides emotional and practical support for boys and young men. Through our practice-led services, we work with boys and men from childhood to 25 to help them become healthy, dynamic, future men. From structured school programmes and youth hubs to individual one-to-one sessions and outreach work, we provide the vital support and advocacy that changes boys and young men’s lives for the better. We focus our work with boys and men who face structural discrimination and disadvantage, including of race, income, and community.

We underpin our work with an understanding of positive masculinities, regardless of whether the issue is fatherhood, sexual health, underachievement, or criminality. We are interested in why boys and young men do what they do, and what we can do about it. We use an asset-based approach to all our work, focussing on the resources that boys and men bring, the contributions they make and the futures they aspire to. This approach includes a view that there are a variety of (sometimes competing) masculinities which are determined by race, class, sexuality, gender, disability, geography, religion and culture and we continue to grapple with these differences within our own work and encourage others to do the same.

The most useful gift we can give to young men individually and collectively is the gift of hope and self-belief that comes with finding the tools to foster resilience and navigate their own future. We work to enable boys and men to thrive rather than simply survive. This builds social and community capital and affects issues of poverty, violence, lack of education and aspiration for all.

Our seven characteristics of positive masculinity

We developed these characteristics based on the experience and evidence collected as an organisation over twenty years. These will be the areas we look to develop with boys and young men as the keys to physical and emotional wellness.

The seven characteristics are:

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FUTURE MEN (A company limited by guarantee)

DIRECTORS’ AND TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

Theory of change

Our theory of change is based on the idea that if boys and young men disengage at critical transition points, joined together with other challenges in their lives such as poverty, poor housing, negative peer pressure, lack of positive parent/family support, there is an increased risk of them entering the criminal justice system, developing mental health issues, facing poverty, ultimately leading to a trajectory of negative experiences. Experience has shown us that these boys and young men are enormously resilient and possess an inner strength to be drawn upon. With the right support at the right time, they can overcome the above and change their lives, they can succeed and grow into future men with the characteristics to succeed in life.

We will build on the existing logic models for our programmes to develop an overarching logic model for our Theory of Change to guide our decisions about continued monitoring and measuring the impact of our work. This model will show how we work at key transition points, and how we use a mix of universal and targeted approaches to reach the most excluded and disadvantaged young men.

Strategic Aims

To build on the authenticity and impact of our services/programmes and evolve our organisation to tackle the root-cause of the structural and systemic inequalities faced by disadvantaged and vulnerable men and boys.

Boys Development Programme in schools

A whole school approach that creates a nurturing environment for boys’ development and provides a space for boys and young men to grow, socially and emotionally, whilst achieving academic attainment.

Community, Engagement and Outreach

Working with the community to provide activities and spaces that keep boys and young men safe from harm, whilst also creating opportunities to develop new life skills, using teachable moments to help them achieve their true potential.

Fathers Development

To create opportunities for fathers to prepare and to have the tools to be actively involved and included in their children’s lives. To create an inclusive space where parents can speak openly about their challenges whilst learning positive ways to engage with and raise their boys and young men.

Advocacy

To influence the public and policy makers so we can change hearts and minds.

Our Volunteers/Pro Bono

During the year volunteers gave over 220 hours to help support the work of the paid staff in the areas of youth work and mentoring.

CEO note

First and foremost, I would like to thank all those who have supported our charity - our dedicated staff, trustees, volunteers, funders, and donors. Your commitment has been invaluable in helping us deliver essential services to our communities.

This is an exciting time for the charity. As the new CEO, alongside our recently appointed Chair of Trustees, I am eager to leverage our combined experience and sector knowledge to enhance our service delivery. We are committed to advancing the charity’s impact, ensuring both growth and sustainability.

This year also marks our twentieth anniversary (2004-2024), providing an opportunity to reflect upon the profound impact we have had over two decades. As demand for our services continues to grow across all areas, we believe our mission is more relevant than ever.

Financially, 2023/24 presented challenges, as it did for many in our sector. In light of this, our priority is to sustain and expand our essential services whilst we focus on strengthening the core of our organisation in order that we can look to a future where we can extend our reach and deliver even greater positive outcomes for the communities we serve.

Alastair Smith-Agbaje, CEO

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FUTURE MEN (A company limited by guarantee)

DIRECTORS’ AND TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

Chair of Trustees note

As the new Chair of Future Men, I am pleased to reflect on our charity's impact throughout 2023/24. This year, we focused on our core programs, carefully evaluating the meaningful effects they have had on our staff, clients, and key stakeholders. Although securing new funding has been challenging, our team has streamlined our approach to engaging potential funders by placing a stronger emphasis on the social and economic impact of our work.

This year has also highlighted the need to strengthen our Board by enhancing diversity and increasing legal expertise - a priority we are now actively addressing. Additionally, we are focused on carefully managing our costs to maximise the value of every pound invested in our mission, and we are committed to supporting our CEO with the resources needed to continue delivering our programs with excellence.

Bernie Hollywood OBE JP Chair of Trustees

ACHIEVEMENTS AND PERFORMANCE

Fundraising, Marketing and Advocacy

Fundraising

Marketing

Advocacy

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FUTURE MEN (A company limited by guarantee)

DIRECTORS’ AND TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

Community, Engagement and Outreach team

Program Details

Challenges and Observations

Positive Impacts and Outcomes

Case Study: A Young Person’s Journey

Reflections

The report concludes with a commitment to ongoing support, keeping in touch with alumni to offer guidance as needed.

Fathers Development Team Activities

Key Outcomes

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FUTURE MEN (A company limited by guarantee)

DIRECTORS’ AND TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

Highlights and Challenges

Boys Development Programme (BDP) and Youth Endowment Fund (YEF)

BDP Annual Report

Amberley Youth Club and Churchill Gardens Youth Hubs

Service Overview

Challenges Faced

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FUTURE MEN (A company limited by guarantee)

DIRECTORS’ AND TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

Strategies for Improvement

Through dedicated staff and adaptive leadership, the hubs are stabilising and committed to enriching young lives in the coming year.

Public Benefit Statement

Future men’s objects are to advance the education of and promote the physical and mental health of adults and young people particularly (but not exclusively) boys and men. As an agency our public benefits are varied. We use our knowledge and experience built up over the last 20 years to support boys and young men, with a particular focus on those who through life events are marginalised and disadvantaged, or at risk of being so. We have a theoretical understanding of masculinity that underpins our work, informed by how external factors, such as race and class affects 21st century males. We have developed services to reach our target group at key points in the life cycle.

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PD2). The achievements and activities above demonstrate the public benefit arising through the Charity’s activities.

Modern Slavery

Although the charity is not obliged to make a statutory report pursuant to s 54 (Transparency in supply chains etc) of the Modern Slavery Act 2015 because its annual turnover does not exceed £36 million, the Trustees are conscious of the need to guard against slavery and human trafficking. Neither the charity, nor to the best of their knowledge and belief their suppliers, is involved in or uses the services of any third-party supplier involved in human exploitation or trafficking.

Financial review

The Statement of Financial Activities showed net surplus of £70,779 (2023 - £86,180) for the year and reserves stand at £1,034,824 (2023 - £964,045). The financial position at the year revealed by the Balance Sheet shows net current assets or working capital of £1,019,227 (2023 – £964,045). The net book value of fixed assets held, all of which are used directly for charitable purposes, amounted to £15,597 (2023 – £nil).

During the year, total income was £1,418,113 (2023: £1,182,195) and total expenditure £1,347,334 (2023: £1,096,015), giving a net surplus of £70,779 (2023 - £86,180).

Income

While overall income has increased this year there are some significant variances when compared to 2023 – some positive and some negative. Community Engagement Outreach department income decreased by 56% to £104,259 (2023: £236,713); Fathers’ department income increased by 120% to £324,460 (2023: £147,521); Boys’ department income increased by 66% to £525,203 (2023: £316,814); Youth department income decreased by 4% to £288,571 (2023: £299,066), and Core grants and donations increased by 5% to £156,581 (2023: £149,767).

Expenditure

Direct expenditure on charitable activities increased over the previous year to £923,762 – 69% of total costs (2023: £711,917). A further £24,213 (2%) was spent on raising funds (2023: £24,609) and £399,359 (29%) on support and governance (2023: £359,489).

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FUTURE MEN

(A company limited by guarantee)

DIRECTORS’ AND TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

The majority of our charitable activities are delivered through time-bound projects funded by grants and contracts. We adopt a flexible charitable spend model to match our expenditure to these income streams allowing us to adjust the shape of our expenditure to minimise our risk of exposure to unfunded liabilities and to maximise our impact by being responsive to changing needs.

Reserves policy

FM requires an appropriate level of reserves in order to operative effectively. The Board of Trustees have considered the risks faced by FM through a risk analysis exercise. The level is set with regard to our aims, needs and objectives and the risks we face. These are sudden cessation or non-renewal of contracts and grants, delay in receipt of funding, and future essential maintenance of properties and IT infrastructure. The Trustees consider that a level equivalent to 3 months staffing and core running costs is sufficient to meet these risks should the need arise. This target level of reserves is £294,144.

At 31 March 2024 the unrestricted funds not designated or invested in tangible fixed assets (free reserves) held by the charity are £216,681 (2023: £255,124) which represents 2.21 months staffing and core running costs (2023: 3.23 months).

During this year £25,000 was set aside towards the Boys’ Department costs for the academic year ended August 2025.

The charity additionally held £777,546 of restricted funds at 31 March 2024 (2023: £668,921) representing unspent funding and grants received in advance which are restricted for the specific purposes for which they were given and are not available for the general purposes of the charity.

Future Activities

We believe the need for our work is greater than ever. The demand for our services has increased throughout the year. Our organisation wants to be able to build on our strengths, to reach and provide for more services, and provide even more positive outcomes for the communities we serve.

Building on a steady growth of our services, the charity will continue to build and review our mission, statement, values and strategic plan for growth over the next three years. The charity will build yearly targets within the strategy to achieve the following goals:

These plans involve building on our existing programmes and building our base of stakeholders and collaborative partnerships.

Principal Funding Sources

Funding is obtained from local government, charitable trusts and foundations in addition to income from resources and other services. As an organisation we are currently looking at a number of ways in which we may generate further income from current resources in an effort to be as independently stable as possible going into the future.

Investment policy and performance

The Board of Trustees have decided that at present, funds should be retained in Banks and Building Societies. Any change in such banking arrangements should be agreed by the Board of Trustees. As far as possible, funds will be retained in accounts bearing the best interest rates at that time.

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FUTURE MEN (A company limited by guarantee)

DIRECTORS’ AND TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Future Men (FM) is a company limited by guarantee and not having a capital divided by shares. The company was incorporated on 2nd October 1997 and is a registered charity (registered 3rd March 2004) constituted as a Limited Company under the Memorandum and Articles of Association. The charity registration number is 1102451 and the company registration number is 03443520.

On 3 April 2019 Working with Men formally announced our change of name to Future Men. The charity remains the same legal entity with Company and Charity registration numbers remaining the same. The name change was registered and approved at Companies House on 12 March 2019 and accepted and registered with the Charity Commission on 26 March 2019.

Recruitment and appointment of Trustees

New trustees are elected by existing trustees on the board in line with revised governance standards in which key areas and skill gaps are identified and addressed. Trustee posts are advertised in the local, national and voluntary newspapers and on websites through an open process. Trustees are then invited to meet with the Chief Executive and senior management team and meet with practitioners and beneficiaries. After an agreed probationary period, they may then be appointed by the Board of Trustees. Under the requirements of the Memorandum and Articles of Association the members of the Board of Trustees are elected to serve for a period of three years, renewable once by Board agreement.

The Directors in office in the year are set out on page 10. The Directors have no beneficial interest in the company other than as members and all guarantee to contribute £1 in the event of a winding up. The Board have unlimited investment powers.

Trustee induction and training

All new Board of Trustee members receive an induction on joining FM which includes:

Organisation

The governance of the charity is undertaken by a Board of Trustees that meets bi-monthly and is responsible for overseeing the strategic direction and resulting policy of the charity. The Board bring expertise from a variety of professional backgrounds and have access to advice on the progress of the work from the Chief Executive, Operations Director, Finance Director, senior managers, individual project workers and project advisory groups/ forums.

The Trustees met during the year to monitor progress against our 3-year strategy, oversee financial and risk management and measure progress in capacity building, diversity, HR and staff development. The Board’s governance is supported by sub-groups which meet regularly throughout the year and comprise chair trustees and members of the senior management team as well as the involvement of individual key staff.

During this year the work of the Board of Trustees was supported by the core team of full-time and part-time staff in addition to our excellent volunteers including mentors. The day-to-day strategic and operational responsibilities rest with the Chief Executive, Operations Director and Finance Director, who ensure that the charity delivers the strategy and services specified and that key performance indicators / work plans are met.

Related parties

During the year there were no related party transactions.

Pay policy for senior management staff

Senior management staff pay is set with reference to market rates for similar roles within similar sized charities in the sector. The pay of the Chief Executive is reviewed and approved by the Board. The pay of other senior management staff is reviewed and approved by the Chief Executive.

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FUTURE MEN (A company limited by guarantee)

DIRECTORS’ AND TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

Risk management

The Board of Trustees has a risk management strategy that incorporates:

Innovation usually involves risk and the Board of Trustees accept this and, therefore, regularly monitor and manage risks. Risks are assessed in the following way:

  1. Major risks that need to be monitored closely;

  2. New, albeit minor, risks that requires processes to be established and monitored;

  3. Minor risks that may become major at a later point, if something else occurs;

  4. Risks within our control and those outside our control.

Organisations such as ours will always be vulnerable to changes in government policy and charitable trusts / funding bodies’ priorities. As well as these external risks, internal organisation risks are also particularly important. If we expand too quickly, we are at risk of overstretching ourselves and the quality of what we do being lowered (this is a common problem in a range of smaller innovative charities). However, if we expand too slowly, we are at risk of failing to generate resources to fund our small but growing core costs (management and office costs in particular).

REFERENCE AND ADMINISTRATIVE DETAILS

Company Number: 03443520

Charity Number: 1102451

Directors / Trustees

R Akontoh S Bowes - resigned 27/09/24 L Carr M Gibson - Acting Chair - resigned 24/01/24 B Hollywood - Chair - appointed 26/04/24 E Lewinson K Lewis - appointed 24/07/24 A McDonald - resigned 14/07/23 D Reed - appointed 24/07/24 Y Rolston N Samuda S Watson - resigned 24/01/24

Key Management Personnel:

Chief Executive Officer: A Smith-Agbaje - appointed 05/02/24 Managing Director: O Thomas - secondment ended 31/03/24 Operations Director: A Cayenne - secondment ended 29/02/24 Director of Marketing, Fundraising & Advocacy: C Stein

Registered Office: The Foundry 17 Oval Way London SE11 5RR

Website: www.futuremen.org

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FUTURE MEN (A company limited by guarantee)

DIRECTORS’ AND TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

Trustees’ responsibilities in relation to the financial statement

The Trustees (who are also directors of Future Men for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulation.

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors 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 company and of its income and expenditure for that period. In preparing these financial statements, the Directors are required to:

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for 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.

STATEMENT OF DISCLOSURE TO AUDITOR

So far as the Trustees are aware, there is no relevant audit information of which the company’s auditors are unaware. Additionally, the Trustees have taken all the necessary steps that we ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the Charity’s auditors are aware of that information.

AUDITORS

A resolution was proposed and agreed at the Annual General Meeting that SCB (Accountants) Limited be re-appointed as auditors of the Charity for the ensuing year.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006.

APPROVAL

This report was approved by the Board and signed on its behalf by:

Bernie Hollywood Chair

21 November 2024

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF FUTURE MEN

(A company limited by guarantee)

Opinion

We have audited the financial statements of Future Men for the year ended 31[st] March 2024, which comprise the Statement of Financial Activities (Summary Income and Expenditure Account), balance sheet, the 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 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 the charitable company’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.

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

FUTURE MEN (Cont/d) (A company limited by guarantee)

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ 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 directors

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charitable company for the purpose 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.

Auditor’s 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 is detailed below:

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

FUTURE MEN (Cont/d)

(A company limited by guarantee)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

This report is made solely to the 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 company's members 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 responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jeffrey Bor FCCA ACA (Senior Statutory Auditor) for and on behalf of SCB (Accountants) Limited 31 Sackville Street Chartered Accountants Manchester Statutory Auditors M1 3LZ

21 November 2024

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FUTURE MEN (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST MARCH 2024

SUMMARY INCOME AND EXPENDITURE ACCOUNT

Unrestricted
Notes
Funds
£
Income
Grants, donations and legacies
2
63,881
Income from charitable activities
3
192,715
Income from other trading activities
4
4,071
Investment income
5
14,968
Total incoming resources
275,635
Expenditure
Cost of raising funds
6
34,420
Expenditure on charitable activities
6
279,061
Total Expenditure
313,481
Net income & net movement in funds for the
year
(37,846)
Reconciliation of funds
Total funds, brought forward
295,124
Total funds, carried forward
257,278		 Unrestricted
Notes
Funds
£
Income
Grants, donations and legacies
2
63,881
Income from charitable activities
3
192,715
Income from other trading activities
4
4,071
Investment income
5
14,968
Total incoming resources
275,635
Expenditure
Cost of raising funds
6
34,420
Expenditure on charitable activities
6
279,061
Total Expenditure
313,481
Net income & net movement in funds for the
year
(37,846)
Reconciliation of funds
Total funds, brought forward
295,124
Total funds, carried forward
257,278		 Restricted
Funds
£
92,700
1,049,778
-
-		 Total
Total
2024
2023
£
£
156,581
149,767
1,242,493
1,030,114
4,071
350
14,968
1,964
1,418,113
1,182,195
34,420
36,620
1,312,914
1,059,395
1,347,334
1,096,015
70,779
86,180
964,045
877,865
1,034,824
964,045
275,635 1,142,478
34,420
279,061		 -
1,033,853
313,481 1,033,853
(37,846)
295,124		 108,625
668,921
257,278 777,546

The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

CONTINUING OPERATIONS

None of the charity’s activities were acquired or discontinued during the above financial periods.

TOTAL RECOGNISED GAINS AND LOSSES

The charity has no recognised gains or losses other than the above movement in funds for the above financial periods.

The notes on pages 18-30 form part of these accounts.

15

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

BALANCE SHEET AS AT 31ST MARCH 2024

Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 11 15,597 -
Current assets
Debtors 12 90,914 119,969
Cash at bank and in hand 1,193,757 1,019,556
1,284,671 1,139,525
Liabilities
Creditors falling due with in one year 13 265,444 175,480
Net current assets 1,019,227 964,045
Net assets 1,034,824 964,045
The funds of the charity
Unrestricted funds:
General 14 232,278 255,124
Designated 14 25,000 40,000
Restricted funds 14 777,546 668,921
Total charity funds 1,034,824 964,045

The Trustees have prepared financial statements in accordance with Section 398 of the Companies Act 2006 and Section 138 of the Charities Act 2011. These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

These accounts were approved by the Board of Trustees on 21 November 2024 and were signed on its behalf by:

…………………………………………………………. Chair

Bernie Hollywood

…………………………………………………………. Treasurer (4 836D9AB567534D5...DocuSigned by: Neville Samuda

Company Number 3443520

The notes on pages 18-30 form part of these accounts.

16

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

(A company limited by guarantee)

FUTURE MEN

CASH FLOW STATEMENT AS AT 31ST MARCH 2024

Cash inflow from operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest income
Cash provided by / (used in) investing activities
Increase in cash & cash equivalents in the year
Cash & cash equivalents at the beginning of the year
Total cash & cash equivalents at the end of the year		 2024
2023
£
£
178,401
60,019
(19,168)
-
14,968
1,964
(4,200)
1,964
174,201
61,983
1,019,556
957,573
1,193,757
1,019,556

Reconciliation of net movements in funds to net cashflow from operating activities:

Net movement in funds
Add back depreciation
Deduct interest income shown in investment activities
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash inflow from operating activities		 2024
2023
£
£
70,779
86,180
3,571
903
(14,968)
(1,964)
29,055
(72,685)
89,964
47,585
178,401
60,019

17

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2024

1. ACCOUNTING POLICIES

1.1 Basis of preparation of accounts

The financial statements have been prepared in accordance with the charitable company's Memorandum and Article of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Preparation of accounts on a going concern basis

The Charity’s Financial Statements show net income of £70,779 (2023: £86,180) for the year and free reserves of £216,681 (2023: £255,124).

The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern.

Trustees will continue to monitor and ensure spending to be done in line with income in order to maintain target level of reserves for 3 months staff costs and core running costs. The review of cashflow for 12 months from the date of approval of the financials statements, the associated assumptions that underpin it, secured new income and the steps that could be taken to reduce expenditure should this be necessary.

Based on the information above, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future and will remain surplus in future period. Therefore, the Trustees have adopted the going concern basis in preparing these accounts.

1.3 Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and amount can be measured reliably.

18

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

1.4 Volunteers and donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item 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), time contributed by volunteers is not recognised. More information about their contribution is included in the trustees’ annual report.

On receipt, donated 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.

1.5 Expenditure recognition and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is classified under the following activity headings:

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

1.6 Allocation of support costs

Support costs relate to those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance and administration personnel, payroll and governance costs which support the charity’s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 7.

1.7 Funds structure

The general fund comprises those monies, which may be used toward meeting the charitable objectives of the company at the discretion of the Board.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

The restricted funds are monies raised for, and their use restricted to, a specific purpose or donations subject to donor imposed conditions.

1.8 Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Individual fixed assets costing £500 or more are capitalised at cost.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases

Furniture and equipment

1.9 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.

1.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term cash deposits.

19

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

1.11 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.

1.12 Financial instruments

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.

1.13 Taxation

The charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

1.14

Operating Leases

All leases are operating leases, and rentals are charged to the Statement of Financial Activities on a straightline basis over the lease duration. No assets are held under hire purchase agreements.

1.15 Judgement and key sources of estimation uncertainty

In the application of the company’s accounting policies, the charity is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

1.16

Pension

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund. The charity has no liability under the scheme other than for the payment of those contributions.

2. GRANTS, DONATIONS, AND LEGACIES

BBC Children in Need
Garfield Weston Foundation
John Armitage Charitable Trust
John Lyon's Charity
Westminster Foundation
Other donations
AxiCom - Donations in kind
Total income from grants, donations and legacies
2023		 Unrestricted
Funds
£
-
-
60,000
-
-
3,881
-		 Restricted
Funds
£
40,000
-
-
-
52,700
-
-		 2024
2023
£
£
40,000
-
-
40,000
60,000
30,000
-
8,000
52,700
54,400
3,881
12,367
-
5,000
156,581
149,767
-
149,767
63,881 92,700
85,867 63,900

The charity is indebted to AxiCom for pro-bono advice service providing Public Relations agency support. The values places on these contributions by AxiCom is recognised within income as donations and corresponding charged included within support costs under Legal and professional costs.

20

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

3. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
Funds
Community Engagement Outreach:
£
Grants and service level agreements:
Big Lottery Fund Grant: Reaching Communities
-
The London Community Fund
-
Royal Borough of Kensington & Chelsea
-
Westminster City Council
-
Westminster Foundation
-
Young Westminster Foundation
-
Other grants and contracts < £5,000
-
-
Fathers' Development:
Grants and service level agreements:
Best Beginning
-
Charles Hayward Foundation
-
Greater London Authority
-
London Borough of Lewisham
67,281
London Borough of Southwark
-
Race Equality Foundation
-
Westminster City Council
29,067
Other grants, contracts and donations < £5,000
-
Training and other income
12
96,360
Boys' Development:
Grants and service level agreements:
Battersea Power Station Foundation
-
Gipsy Hill Federation
-
Grove Trust
-
Portal Trust
-
Royal Borough of Kensington & Chelsea
-
The Alan & Babette Sainsbury Charitable Fund
-
The Fishmongers’ Company
-
The Kensington + Chelsea Foundation
-
The Progress Foundation
-
United St Saviours Charity
-
Walcot Foundation
-
West London Zone
25,901
Westminster Foundation
-
Youth Endowment Fund
-
School contracts income
70,254
Other grants, contracts and donations < £5,000
-
96,155
Totals carried forward:
192,515		 Unrestricted
Funds
Community Engagement Outreach:
£
Grants and service level agreements:
Big Lottery Fund Grant: Reaching Communities
-
The London Community Fund
-
Royal Borough of Kensington & Chelsea
-
Westminster City Council
-
Westminster Foundation
-
Young Westminster Foundation
-
Other grants and contracts < £5,000
-
-
Fathers' Development:
Grants and service level agreements:
Best Beginning
-
Charles Hayward Foundation
-
Greater London Authority
-
London Borough of Lewisham
67,281
London Borough of Southwark
-
Race Equality Foundation
-
Westminster City Council
29,067
Other grants, contracts and donations < £5,000
-
Training and other income
12
96,360
Boys' Development:
Grants and service level agreements:
Battersea Power Station Foundation
-
Gipsy Hill Federation
-
Grove Trust
-
Portal Trust
-
Royal Borough of Kensington & Chelsea
-
The Alan & Babette Sainsbury Charitable Fund
-
The Fishmongers’ Company
-
The Kensington + Chelsea Foundation
-
The Progress Foundation
-
United St Saviours Charity
-
Walcot Foundation
-
West London Zone
25,901
Westminster Foundation
-
Youth Endowment Fund
-
School contracts income
70,254
Other grants, contracts and donations < £5,000
-
96,155
Totals carried forward:
192,515		 Restricted
Funds
£
-
-
65,759
-
-
38,500
-		 2024
2023
£
£
-
84,782
-
15,000
65,759
72,026
-
4,667
-
5,000
38,500
55,238
-
-
104,259
236,713
-
5,000
15,000
15,000
193,952
-
67,281
76,023
17,490
16,500
-
20,872
29,067
10,591
1,658
3,485
12
50
324,460
147,521
-
5,000
20,313
25,000
8,333
11,667
25,000
-
11,280
13,369
15,000
15,000
27,500
27,500
27,000
27,000
-
20,000
27,000
27,000
25,000
25,000
25,901
24,358
14,000
24,000
228,622
-
70,254
68,866
-
3,054
525,203
316,814
953,922
701,048
- 104,259
-
-
-
67,281
-
-
29,067
-
12		 -
15,000
193,952
-
17,490
-
-
1,658
-
96,360 228,100
-
-
-
-
-
-
-
-
-
-
-
25,901
-
-
70,254
-		 -
20,313
8,333
25,000
11,280
15,000
27,500
27,000
-
27,000
25,000
-
14,000
228,622
-
-
96,155 429,048
192,515 761,407

21

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

3. INCOME FROM CHARITABLE ACTIVITIES (Cont/d)

Unrestricted
Funds
£
Totals Brought forward:
192,515
Youth Development and Training:
Grants and service level agreements:
John Lyon's Charity
-
St Giles & St George Education Charity
-
Westminster City Council
-
Westminster Foundation
-
Young Westminster Foundation
-
Other grants and donations < £5,001
200
200
Community Development:
Grants and service level agreements:
The Trusthouse Charitable Foundation
-
-
Total income from charitable activities
192,715
2023
207,488		 Unrestricted
Funds
£
Totals Brought forward:
192,515
Youth Development and Training:
Grants and service level agreements:
John Lyon's Charity
-
St Giles & St George Education Charity
-
Westminster City Council
-
Westminster Foundation
-
Young Westminster Foundation
-
Other grants and donations < £5,001
200
200
Community Development:
Grants and service level agreements:
The Trusthouse Charitable Foundation
-
-
Total income from charitable activities
192,715
2023
207,488		 Restricted
Funds
£		 2024
2023
£
£
953,922
701,048
40,000
40,000
15,000
-
166,821
168,500
33,300
22,600
33,250
67,966
200
-
288,571
299,066
-
30,000
-
30,000
1,242,493
1,030,114
-
1,030,114
192,515 761,407
-
-
-
-
-
200		 40,000
15,000
166,821
33,300
33,250
-
200 288,371
- -
- -
192,715 1,049,778
207,488 822,626

4. OTHER TRADING INCOME

Unrestricted
Funds
£
Consultancy income
4,071
4,071
NVESTMENT INCOME
Unrestricted
Funds
£
Bank interest
14,968
14,968		 Unrestricted
Funds
£
Consultancy income
4,071
4,071
NVESTMENT INCOME
Unrestricted
Funds
£
Bank interest
14,968
14,968		 Restricted
Funds
£
-		 2024
2023
£
£
4,071
350
4,071
350
2024
2023
£
£
14,968
1,964
14,968
1,964
4,071 -
Restricted
Funds
£
-
-

5. INVESTMENT INCOME

22

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

6. ANALYSIS OF EXPENDITURE

Direct staff costs
Direct project costs
Costs of generating raising funds
Support costs (Note 7)
Governance costs (Note 7)
Total expenditure
2023		 Cost of
Raising
funds
£
24,071
-
142
8,137
2,070
34,420
36,620		 Community
Engagement
Outreach
£
86,462
25,144
-
37,505
9,546
158,657
186,209		 Fathers'
Development
£
147,483
32,417
-
60,455
15,291
255,646
169,655		 Boys'
Development
£
302,283
22,778
-
109,235
27,511
461,807
276,972		 Youth
Development
& Training
£
210,669
90,276
-
101,132
25,843
427,920
385,618		 Community
Development
£
6,250
-
-
2,100
534
8,884
40,941		 2024
2023
£
£
777,218
588,445
170,615
133,923
142
14,158
318,564
339,312
80,795
20,177
1,347,334
1,096,015
-
1,096,015

Of the £1,347,334 expenditure in 2024 (2023: £1,096,015), £313,481 was charged to unrestricted funds (2023: £340,759) and £1,033,853 to restricted funds (2023: £755,256).

23

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

7. ANALYSIS OF SUPPORT AND GOVENANCE COSTS

The charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Governance costs and other support costs are apportioned separately between the charity’s key activities undertaken (see note 6) in the year. All the general support and governance costs have been apportioned to the various charitable activities proportional to direct project expenditure.

8.

General
support
£
Management, Finance & Admin staff costs
160,089
Communication costs
2,875
Information Technology
16,286
Premises and equipment costs
48,416
Legal and professional costs
69,928
Insurance costs
9,033
Sundry expenses
8,365
Depreciation
3,572
Auditor's remuneration
-
318,564
2023
339,312
NET INCOMING RESOURCES
Net incoming resources is shown after charging:
Depreciation of tangible fixed assets owned by the charity
Auditor’s remuneration – year end accounts
Operating lease rentals		 Governance
function
£
4,051
-
-
-
70,504
-
-
-
6,240
80,795
20,177		 2024
2023
£
£
164,140
206,114
2,875
2,921
16,286
12,470
48,416
28,192
140,432
96,004
9,033
2,770
8,365
4,115
3,572
903
6,240
6,000
399,359
359,489
-
359,489
2024
2023
£
£
3,572
903
6,240
6,000
25,819
11,067

9. ANALYSIS OF STAFF COSTS, TRUSTEES REMUNERATION AND EXPENSES, AND COST OF KEY MANAGEMENT PERSONNEL

Salaries
National Insurance
Pension		 2024
£
838,216
75,348
27,794
941,358		 2023
£
706,302
64,030
24,227
794,559

None of the employee earned in excess of £60,000 in the year (2023: nil).

None of the Trustees received any remuneration during the year (2023: £nil) and no expenses were reimbursed (2023: £nil).

The key management personnel of the charity comprise the Chief Executive Officer, Managing Director, Operations Director, and Director of Marketing, Fundraising & Advocacy. The total wages and pensions of the key management personnel of the charity were £177,415 (2023 - £151,654).

24

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FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

10. STAFF NUMBERS

The average monthly head count was 27 staff (2023: 23) and the average monthly number of full-time equivalent employees (including sessional and part-time staff) during the year were as follows:

Management
Community Outreach
Fathers’ Development
Boys’ Development
Youth Development and Training
Administrative work

11.
TANGIBLE FIXED ASSETS
COST
As at 1st April 2023
Additions during year
Disposals
As at 31st March 2024
DEPRECIATION
As at 1st April 2023
Charge for the year
Disposals
As at 31st March 2024
NET BOOK VALUES
As at 31st March 2023
As at 31st March 2024
12.
DEBTORS
Grant, contract and fee income receivable
Other debtors
Prepayments
13.
CREDITORS: amounts falling due within one year
Trade creditors
Social security and other taxes
Other creditors
Accruals
Deferred income (note 17)		 2024
Number
3
2
3
8
5
2
23
Furniture &
Equipment
£
12,818
19,168
(5,280)
26,706
12,818
3,571
(5,280)
11,109
-
15,597
2024
£
74,777
3,719
12,418
90,914
2024
£
28,832
26,986
1,999
26,147
181,480
265,444		 2023
Number
3
3
2
5
5
2
20
Total
£
12,818
19,168
(5,280)
26,706
12,818
3,571
(5,280)
11,109
-
15,597
2023
£
108,387
-
11,582
119,969
2023
£
47,269
11,382
1,194
19,996
95,639
175,480

25

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

14. MOVEMENT IN FUNDS

RESTRICTED FUNDS:
Voluntary income:
BBC Children in Need
John Lyon's Charity
Westminster Foundation
Other grant and donations income < £5,000
Community Outreach:
Big Lottery Fund Grant: Reaching Communities
Royal Borough of Kensington & Chelsea
The London Community Fund
Westminster City Council
Young Westminster Foundation
Other grant and donations income < £5,000
Fathers' Development:
Best Beginning
Charles Hayward Foundation
Greater London Authority
London Borough of Lewisham
London Borough of Southwark
Race Equality Foundation
Other grant and donations income < £5,000
Boys' Development:
Grove Trust
Portal Trust
Royal Borough of Kensington & Chelsea
The Alan & Babette Sainsbury Charitable Fund
The Fishmongers’ Company
The Kensington + Chelsea Foundation
The Liam Seagar Memorial Fund
The Progress Foundation
United St Saviours Charity
Walcot Foundation and Gipsy Hill Federation
Westminster Foundation
Youth Endowment Fund
Youth Development and Training:
John Lyon's Charity
St Giles & St George Education Charity
Westminster City Council
Westminster Foundation
Young Westminster Foundation
Other grant and donations income < £5,000
Organisational Development:
The Trusthouse Charitable Foundation
UNRESTRICTED FUNDS
General funds
Designated fund
Total unrestricted funds
Total funds		 Balance
01.04.2023
£
-
8,000
50,197
1,500
69,650
70,866
15,000
4,082
65,166
6,781
5,000
4,154
-
12,067
-
5,381
1,006
-
-
14,575
12,552
11,458
8,252
6,185
20,000
21,039
8,333
18,997
-
10,000
22,254
105,444
46,767
31,565
5,150
7,500
668,921
255,124
40,000
295,124
964,045		 Income
£
40,000
-
52,700
-
-
65,759
-
-
38,500
-
-
15,000
193,952
-
17,490
-
1,658
8,333
25,000
11,280
15,000
27,500
27,000
-
-
27,000
45,313
14,000
228,622
40,000
15,000
166,821
33,300
33,250
-
-
1,142,478
275,635
-
275,635
1,418,113		 Expenditure
£
9,926
8,000
59,339
1,500
50,377
35,329
-
4,082
42,963
45
5,000
4,154
79,994
12,067
17,490
301
2,467
8,333
-
4,652
16,461
21,030
20,592
-
10,384
29,617
30,791
4,819
184,632
27,655
25,680
223,163
25,728
45,910
5,150
7,500
1,025,131
282,203
40,000
322,203
1,347,334		 Balance
Transfers
31.03.2024
£
£
-
30,074
-
-
-
43,558
-
-
-
19,273
-
101,296
-
15,000
-
-
-
60,703
-
6,736
-
-
-
15,000
(863)
113,095
-
-
-
-
(5,080)
-
5,080
5,277
-
-
-
25,000
-
21,203
-
11,091
-
17,928
(923)
13,737
-
6,185
(639)
8,977
-
18,422
-
22,855
-
28,178
(5,286)
38,704
-
22,345
-
11,574
(480)
48,622
-
54,339
(531)
18,374
-
-
-
-
(8,722)
777,546
(16,278)
232,278
25,000
25,000
8,722
257,278
-
1,034,824

26

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

14. MOVEMENT IN FUNDS (continued)

Movement in funds comparative (2023)

RESTRICTED FUNDS:
Voluntary income:
John Lyon's Charity
Westminster Foundation
Other grant and donations income < £5,000
Community Engagement Outreach:
Big Lottery Fund Grant: Reaching Communities
Royal Borough of Kensington & Chelsea
The Kensington & Chelsea Foundation
The Liam Seagar Memorial Fund
The London Community Fund
Westminster City Council
Westminster Foundation
Young Westminster Foundation
Other grant and donations income < £5,000
Fathers' Development:
Best Beginning
Charles Hayward Foundation
London Borough of Lewisham
London Borough of Southwark
Race Equality Foundation
Rayne Foundation
Westminster City Council: Fathers for Futures
Other grant and donations income < £5,000
Boys' Development:
Battersea Power Station Foundation
Gipsy Hill Federation
Grove Trust
Royal Borough of Kensington & Chelsea
The Alan & Babette Sainsbury Charitable Fund
The Fishmongers’ Company
The Henry Smith Charity
The Kensington + Chelsea Foundation
The Liam Seagar Memorial Fund
The Progress Foundation
United St Saviours Charity
Walcot Foundation
Westminster Foundation
Other grant and donations income < £5,000
Youth Development and Training:
John Lyon's Charity
St Giles & St George Education Charity
Westminster Amalgamated Charity
Westminster City Council
Westminster City Council Community Development
Westminster Foundation
Young Westminster Foundation
Other grant and donations income < £5,000
Organisational Development:
The Trusthouse Charitable Foundation
Total restricted funds
UNRESTRICTED FUNDS
General funds
Designated fund
Total unrestricted funds
Total funds		 Balance
01.04.2022
£
-
41,172
-
17,118
19,553
6,168
4,216
-
21,341
-
67,585
7,613
-
-
23,103
-
-
7,868
6,315
5,918
1,194
14,330
738
7,303
-
12,620
18,331
-
-
-
8,678
875
-
-
9,269
25,904
8,969
64,178
7,791
84,443
17,101
20,407
7,550
537,651
300,214
40,000
340,214
877,865		 Income
£
8,000
54,400
1,500
84,782
72,026
-
-
15,000
4,667
5,000
55,238
-
5,000
15,000
-
16,500
20,872
-
-
885
5,000
-
11,667
13,369
15,000
27,500
-
27,000
1,969
20,000
27,000
25,000
24,000
1,085
40,000
-
-
168,500
-
22,600
67,966
-
30,000
886,526
295,669
-
295,669
1,182,195		 Expenditure
£
-
45,375
-
32,250
20,713
6,168
-
-
21,926
10,179
57,657
832
-
10,846
11,036
16,500
15,491
7,868
6,315
5,797
6,194
14,330
12,405
6,097
2,448
28,662
18,331
18,748
-
-
14,639
17,542
8,502
1,085
39,269
3,650
8,969
127,234
7,791
51,598
53,502
15,257
30,050
755,256
300,759
40,000
340,759
1,096,015		 Balance
Transfers
31.03.2023
£
£
-
8,000
-
50,197
-
1,500
-
69,650
-
70,866
-
(4,216)
-
15,000
4,082
5,179
-
65,166
-
6,781
-
5,000
-
4,154
-
12,067
-
-
5,381
-
-
-
-
-
1,006
-
-
-
-
-
-
-
14,575
-
12,552
11,458
-
-
-
8,252
4,216
6,185
20,000
-
21,039
-
8,333
3,499
18,997
-
-
-
10,000
-
22,254
-
-
105,444
-
-
(8,678)
46,767
-
31,565
-
5,150
-
7,500
-
668,921
(40,000)
255,124
40,000
40,000
-
295,124
-
964,045

27

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

14. MOVEMENT IN FUNDS (continued)

Description, nature and purpose of restricted funds:

Community Outreach Engagement

Restricted funds received for this outreach work fund our ‘Ventoring’ project in different locations around London which is a support programme for NEET (not in education, employment, or training) boys and young men aged 13 to 25. The project engages these young men through street work and partnerships with other agencies and supports them into training and/or education, explore developing masculinities, address wider support needs including mental and physical health and key life transitions.

Fathers’ Development

In Westminster, Lewisham, Greenwich, and Southwark we deliver a range of support services to all fathers, especially young fathers, and those from disadvantaged backgrounds. The aim is to support fathers take an active part in their children’s upbringing and development. We train and supports others, to develop ‘father friendly’ accessible services. The work in Westminster has developed and delivered a series of group work, courses/workshops and one to one case work.

Boys’ Development

Restricted funds received for our Boys’ Development programme fund delivery to boys and young men at risk of school exclusion, criminal and/or antisocial behaviour and gang activity. This service is delivered often at transition between primary and secondary schools as well as to Year 8, 9 and 10 and mostly through schools. It aims to show boys and young men alternative communication strategies so that they do not use aggression to resolve conflict.

Youth Development and Training

We deliver an estate-based youth programme through two youth clubs. The programme provides structured activities, one to one support and holiday activities, with the aim of providing a safe space for young people to increase their opportunities and life chances, as well as divert them where necessary away from criminal activity. The project also, where appropriate, supports the parents and families of the young people attending. Restricted funds received for Youth work contribute to various aspects of running the club.

Community Development

The Westminster Foundation provide a grant towards Westminster based project work, and funding for core costs in support of our work.

Balances carried forward on restricted funds represent unspent funding and grants received in advance to be spent on project work in the next year.

Description, nature and purpose of unrestricted funds:

General funds: General fund represents funds available to spend at the discretion of the Trustees after allowing for all designated funds.

Designated funds: Represents funds brought forward of £40,000 set aside by the Trustees in relation to unrestricted grant received from Garfield Weston Foundation towards the end of the previous year intended to cover core wages costs of 2023/24. During this year £25,000 was set aside towards the Boys’ Department costs for the academic year ended August 2025 .

28

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

15. ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS

General
Designated
£
£
Tangible fixed assets
15,597
-
Net current assets
216,681
25,000
232,278
25,000
Unrestricted
Analysis of fund balances between net assets comparative (2023):
General
Designated
£
£
Tangible fixed assets
-
-
Net current assets
255,124
40,000
255,124
40,000
Unrestricted		 General
Designated
£
£
Tangible fixed assets
15,597
-
Net current assets
216,681
25,000
232,278
25,000
Unrestricted
Analysis of fund balances between net assets comparative (2023):
General
Designated
£
£
Tangible fixed assets
-
-
Net current assets
255,124
40,000
255,124
40,000
Unrestricted		 2024
Restricted
Total
£
£
-
15,597
777,546
1,019,227
777,546
1,034,824
2023
Restricted
Total
£
£
-
-
668,921
964,045
668,921
964,045

Analysis of fund balances between net assets comparative (2023):

16. OPERATING LEASE COMMITMENTS

The charity has operating lease commitments relating to its property rental as shown below.

Rent
Within 1 year
Within 2 - 5 years
DEFERRED INCOME
Balance as at 1st April
Amount released to income in the year
Amount deferred in the year
Balance as at 31st March
Schools’ (Boys' Development) contracts
Westminster City Council (Father’s Development) contract
LB Lewisham (Father’s Development) contract
LB Southwark (Father’s Development) contract
The Grove Trust (Boys’ Development) grant
John Armitage Charitable Trust (Core) grant
Other contracts		 2024
2023
£
£
28,537
2,666
106,174
-
134,711
2,666
2024
2023
£
£
95,639
67,332
(95,639)
(65,674)
181,480
93,981
181,480
95,639
2024
2023
£
£
24,121
28,194
25,638
14,827
53,846
12,627
77,875
-
-
8,333
-
30,000
-
1,658
181,480
95,639

17. DEFERRED INCOME

29

Docusign Envelope ID: 872D62F3-01E5-48BF-BA66-A7C2C328B97ADocusign Envelope ID: B99C176A-1A4C-4D83-8FC0-252F25278708

FUTURE MEN (A company limited by guarantee)

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST MARCH 2024

18. PENSIONS

The Charity operates a defined contribution pension plan for its employees. The amount of contributions recognised as an expense during the year was £27,794 (2023: £24,227). Contributions totalling £272 (2023: £33) were payable to the fund at the year end and are included in creditors. The pension expense has been charged to specific programmes where staff are engaged in particular activities. The pension expense included within support costs has been allocated across the activities in accordance with the accounting policy on page 20.

19. RELATED PARTY TRANSACTIONS

For the whole of the year, the charity was under the control of the Directors and Trustees as shown on page 10.

There were no related party transactions during 2024 (2023: None).

20. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES (2023)

Unrestricted
Notes
Funds
£
Income
Grants, donations and legacies
2
85,867
Income from charitable activities
3
207,488
Income from other trading activities
4
350
Investment income
5
1,964
Total incoming resources
295,669
Expenditure
Cost of raising funds
6
36,620
Expenditure on charitable activities
6
304,139
Total Expenditure
340,759
Net income & net movement in funds for the
year
(45,090)
Reconciliation of funds
Total funds, brought forward
340,214
Total funds, carried forward
295,124		 Unrestricted
Notes
Funds
£
Income
Grants, donations and legacies
2
85,867
Income from charitable activities
3
207,488
Income from other trading activities
4
350
Investment income
5
1,964
Total incoming resources
295,669
Expenditure
Cost of raising funds
6
36,620
Expenditure on charitable activities
6
304,139
Total Expenditure
340,759
Net income & net movement in funds for the
year
(45,090)
Reconciliation of funds
Total funds, brought forward
340,214
Total funds, carried forward
295,124		 Restricted
Funds
£
63,900
822,626
-
-		 Total
Total
2023
2022
£
£
149,767
96,104
1,030,114
1,023,678
350
-
1,964
-
1,182,195
1,119,782
36,620
23,975
1,059,395
1,173,134
1,096,015
1,197,109
86,180
(77,327)
877,865
955,192
964,045
877,865
295,669 886,526
36,620
304,139		 -
755,256
340,759 755,256
(45,090)
340,214		 131,270
537,651
295,124 668,921

30