REGISTERED COMP.4TrY NUMBER: 116331726 ffttglDd and ,41¢$) REGISTERED CHAIUTY Tr4LMBER.. 1102656 REPORT OF THE TRL'STEES UYAUDITED FICIAL STATEMEliTS FOR THE YEAR E%DED 31 DF.CF.MBF.R 2023 FOR DROP ZOliE YOL TH PROJEcfs LTD. IA CO%IPA%Y I.IMITF.D BI. GUARATr*TF.EI JFHornby&Co Chartered Accountan Thc Towrr Ihltongaie Busine&s Centse Daltonga UINrr510tt Cumbria LA12 7A1
DROP 7A)fE VOLTh PROJEcfs LTD. CO)T£NTSOF THE FINAICI.L ST.4TE%IENTS FOR THE I'EAR ENDED 31 DECEIBER 2023 Pge Reference and AdministTtiYe Detlls Report of the Trnst¢es lrtdepeDdtnt EiamiDeT'5 Report Statement of Finantial Aetivlrfes Bxlanee Sbeet 9 10 Notes to tht Financial Statemellts 11 16 Detli¢d St*temeDt of Finantial Activities l? w 18
DROP 7A)I%E YOUTH PROJEcfs LTD. REFEREICE ADMLNISTRATIVE DETA5 FOR THE I'EAR ENDED 31 DECEIBER 2023 TRUSTEES Mr M C Cummin MT R OfonTW)r Mr D Cov¢nl•le Mr A Callist¢r Mrs C Vernon REGISTERED OFFICE Lakeland House Abbey Ro#d Barr0 in Furness Cumbria LA14 IXL REGISTERED COMPANY PUMBER I332726 IEn8land and Wales) RECISTERED CHARITY P4UMBERI 102656 INDEPENDb.NT F.XAMIliER JFHornby&Co Chanered A¢¢ounw Tr Towrr Dt0OI¢ Business C¢rbty¢ Daitongale Ulv¢r5to Cumbria LA12 7PJ BANKERS HSBC Bank plc 104 Duke Sveet Barrow in Furness Cumbn"a IA14 Oui SE%IOR MAPAGEMENT Sue JohThwn Youth & Fitwi¢e Manager Cath Corkill Ed*ation Manager Pa8e I
DROP ZOI4E YOUTH PROJECTS LTD. REPORT OF THE TRLSTEES FOR THE I'E.4R E.%DED JJ DEcE]BER 2023 The tswte¢s who arc aJ50 directors of the cb8n.ty for the putW5es of the Compaw¢$ kn 2006, pr¢s¢nl theiT rewrt with the financial Statements of ihe ¢han"ty for the year ended 31 DwemEtr 2023. The tr¢s have adopted the provisiotts of A¢¢oulliJng and Reporlin¥ by Chan'iies.. Statement of Recomrnffl P11¢¢ applieable chan'iie5 prepanng their accounts in A¢¢ordance with the Financial Reporting Standard applicable in the UK aTwJ Reblic of Ir¢land IFRS 102) lefftctive I January 2019). OBJECTIVES AYD ACTIVITIES Obj¢¢tlveJ #nd %lrns The Obj¢S of the charity. OS Contsined within th¢ rnemorandwn and aruclcs of asso¢)atiotL is to educatr youn8 people thTuu¥h th¢ir l¢isure time activities 50 to develop physKal. nYDtsl and Spiritu capaEitse$ thai they may gTOW to hll maturity as individuals and memEtr5 of society. Thc Charity aJ50 works ¢losely s¢hools and children'$ TrICes to emble the charity to reach young people who are ideniified as being ai risk of exclusion or are noi currenily on roll ai s¢knl. An almaiive educaiion facility i5 a150 provided. which has identLfie4 th11 th1$ group of young people bavc limitcd %ce$5 to sw)ns 3)d reLreaiion faciliiics and often have complex nttds Including men¢al health iss. The charity aims to support young people W und¢Tsrand triggers and the pressure of their daily lives which in SO ClmLnLswK¢s can bc chaotic a1 io icach $tress man8g¢m¢ni meihods.AdditioMlly, &¢tivities are promoied rais¢ th¢ &8pirauons of youn8 rople. helpin8 them to 8&in access io jerviceg. advice and 8u]dA[¢. Publl¢ b¢D¢flt Th¢ trustees corlfirm ih&i thcy have complied with their duty under s¢ciion 4121 of the Charities Aci 2011 have due rc8ard io th¢ public benefit 8ULdance publis1d by the Charily co1510 and ron51d¢r thit tk pursyjt of the &ssociaiion's ain through the activiiies described ibove i$ consistent therewith. ACHIEVEMEiYf AI%D PERFORMAI%CE Chrli4ble ¢tlvltle5 In 2093 Drvp Zon¢ ld 1907 thteTX¢iOAS with youn8 PIc. took pan in a vari¢iy of ¢d10n and youth work projects. All youn8 people finishitt8 exTwJed edu¢ation •AIth us in 2023 innda destination to move on to. We were 5uecessfuJ in sccurin¥ fwwjing from VlouS Strets with the TnoA nothble being the Youth Investment Fund, th1¢h will eble Drop Zone nkive forward with develop its centre to become a ort Ip [11]ty for youn8 people. We were also successful in receiving a Garfield We510Th Award th1¢h corrKs 12 monih5 strdlegic support from Piloilight and we have developcd partnerships with Furness Youth Work Parnhcrship. Bam)w AFC and BarrowfiLI with on¢ of our directorsjoining them on a mp to Kolkata India &8 pan of their Jwe RcA)t proJ¢¢i. We delivered Furness Pn"de 2023 brin8in8 wgether the community to ¢¢lebrate ilUsion 2nd divetsity with • footfAII of 7.000 people ¢njoyin8 th¢ eveni and ¢ontst)ue to ¢0Mt)Mty evellts atsd illiiia¢ives su¢h & World Suicid¢ Prcvclllion Day, Party in th¢ Pt* and th¢ Unity Fe#ivai. Page 2
DROP ZONE Yoimi PROJEcfs LTD. REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENT AND PERFoRlNCE CHAIRMAWS REPORT- as r¢pDrod in January 2024 l aTn ples¢d 10 report ather $u¢¢essfvl year foT th¢ Drop Zone. The finwKcs h8v¢ subilised such ar¢ currently in 8 strong p051tion. This i5 no srnall part to the two dirccior5 on thll"r fiJtMI-fdising effon$. A S)LficanT award came from the Garfleld Foundation with ihcir Pilot Lighi Prn which w&8 awwded in the Summer of 2023 bu¢ look some lime to get ¢ked off in carly de¢¢mber. Thi$ is a pytstlpoS award whKh wll enable Drop Zone to benefit from thcir eXperi¢e in helping or88nisations achieve goBIs. With WestmorlarKI and Furness Council IW&FI ¢th"t)8 over from Bmw Borough Council and Cumbria Counry Cowicil. there has been a bil of di5niption which r¢sulied in the Barrow Borou8h Council bid foT th¢ refiwbishNi of iAkeland HOU comir)8 to the Drop Zone to itnplemeni. Howrver li h&s also resultrd in a 25-year le of Lak¢land Hous¢ which will inevithbly give stsbility for thc future. Wknl$i kn are s¢v¢ral i4u¢s wrrk throug il m$1 be acknowledged that W&F have continued io support and believe in the %'ision for Lak¢land H0c. The awd for refurbi5hmcnt and youth organisalion support from the Youih lrtv¢stmeni Fund signifJ¢s appre¢iaiion for the works thai Drop Zone undert¢ in the arca will provide a very important re8our¢¢ for Furnc55 iti the fvtw¢. Our financial PTocess¢$ are lw 5upponed by an external a8ency. ensuring th¥1 ever>ohin8 is in place for th¢ forthcomin8 investment. OUT OtTi¢e mana8er. alongside trww¢r and mana8emcni are illstrwntI1 in mllna8ln8 all our financial procedures. W¢ now have a xttled board of tnL8t¢a who are all very ptty¢ and a 8Te41 3port with each one tskin8 Tespoii8Lbility for variou5 spec¢s of th¢ org8nisation. This yeAr we a8ain held a Pnde eveThi. wthich conlinue$ w gmw year and coniiThues io hAV¢ a sitiVe impact. ConBrawlaiions again the for the hard work thcy have wi mAkin8 this evcni the S¢¢S$ thal It is. Finally, and I r¢ myself every y¢ar. Drop Zone would noi be where it 15 today withou¢ the inspired and excelleTh¢ leadership of Cath Corkn'll arMJ Su¢ JohrwTrn. BeThveeD them epitomix ever)th'n8 8ood aboul the organisation and continue to driv¢ the or8anisatiott into new and i1ve areas. Mike Cummit18. Chair EDUCATION Our exiended education provision continued to grow. over the l&st 12 nK>trths vrt hive supponed 46 young people. Our young p¢opl¢ have had a rcally succtssful and posilive ye8r. siiiing 19 fjCSE's alongside FuTKtional Skills Assessmenis. We Currently have a p&ss r8t¢ of 84qh which is anmzing athl i trstsmem io how hord Staff work. A]ong5ide our delivery in LAkeside HO we werc also 35ked to ¢oniinu¢ to delivery in Dalion Drill Hall for 3 Dowdale5 Students. Wc conlinue to supwrt IM)me educated youn8 people. w th¢y hav¢ the same opp)nuttities as their peers. Alongsidc C55elltial 5ubJ¢¢t$. we have continued to Icaeh youn8 people ¢55erhtial, trnnsf¢r&ble life skills 50 thcy arc prcpar¢d for posi-10 provision. All ow year I 1$ wlk) left in the of 2023 htve 8e¢urtyJ intend1 d¢suDAtions in emplowt trainmg. apprenticcskn'p$ And ¢oll¢g¢. Pa8e 3
DROP ZONE YOUTH PROJECTS LTD. REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBEK 2023 ACHIEVEMENT AND PERFORMANCE The organisation has becn through NCFE m(>deration and an annual monitorin8 reNiew. Both were successfvl, which showcases how importani it is for us as an ¢du¢dtion provision to adh¢r¢ lo everything our awarding body requircs. Due to this we were able to add new qualifications io OUT timetable,. Level l Award in Heajih & Social Care dnd Level 2 it) Sexual Health Awarene55. Both these were identified by out young people as qualifications they wanted to achieve. We were also able to offer a Level 2 Food Hygjene qualification foT 2 of our young people who w¢re Jnierested in put5uing a ¢areer in ¢aiering. We striY¢ to offer ollr young people the same oppommities as young people who are in schools, so continually invite external agetKi¢s into our session io educate around a numb¢r of differ¢nt tOPlC5. Last year we were able to work with a 14¢al artist Thljo supported OUT young people in a pritlting project and their canvases were showcased al Printfcst in Ulverston. Jessica from th¢ Wildlif¢ Ttusl worked with our young p¢opl¢ aFound (he cnvironmenl and due 10 this they were ble to achiee the John Muir AwaTd. We also supported young people in gainin8 work experience plaecmcnrs, pan time eiJ]plo)ryn¢Dt and a volunl¢er P05Ltion at our local radio SLrytion. A5 always we are exiremely grateful to all our schools and Lo¢al Authoriry for their coniinued support and belicf in what we do Attd look forward io coniinuing to wojk alon8side theTn 0r the coming years. We have ¢ontinued lo deliveT Knife Crime ¢dllcaiion in local schoo15, altsngside edllcaiion around vaping. In June 23 we deliVed on the Junior Ciiizenship ScheTn¢ w]th local paer5 to 700 pritnary children from across Furn¢s5. This was a really positive piece of work ihat 5UPPOrt5 young people's trhnsiiion from year 6 to 7. Topics covered were hate crime, vaping. 01¢ safery, Vdter 5af¢ty, fire safety and anti-social behaviour. As always we value the continued support from local schiK>ls, the Lo¢81 Authority, parents and partner organisations. Our next gencration des¢rv¢ 2 range of opportunities and this was 5how'ca$ed in 2023. YOUTH WORK Our youth work d¢liv¢ry Continued to address ihe 8rowing need a¢Toss the local area and w¢ have been involved in a number of initiatives to support, educatc and develop youn¥ people. Our Support in Barrow AFC'S ground ¢(>rttinued but due to 50Tne funding COnraints we have had to pause at the end of the year. We have. how¢v¢T. continued tg SUPPOrt the club and recertily sponsored a So Lcgal event. presented 10 2 range of aiiendees and showcased our organisaiiort. Throughout the year we had 1,907 iDterdCtions with young people through the PCC and Ed8¢ NE, however, the funding ended and Isn't continuing. However, we have submirted a collaborative bid to the Lot*ry and W AF to plug thss gap. so hopefully our capacity Mryll in¢reas¢ again in 2024. We celebrated Natio]]al Youth Work week irl November 23 and hosted an amazing inforntIOn even¢ at Lakeland Housc wilh our 15 panner8. We welcomed the Police, fi]nders, health repres¢ntativ¢s and the High Sheriff. Events lik¢ thi$ are really Imporn1 io showcase what is otl off¢r in the local area alld how uniqu¢ Barrow is LII the way we work 108ether. We d¢liTr¢red acr055 Furn¢s5 with PTOV15ion in Barrow, Orn8111, Dalton and A5kam offering a rang¢ ofpToje¢t$ for ehildren and young people from 8 Yr$ up. COMMUNITY Our coTnTnullity work continues and we have supported a number of events lo¢ally. Barr0S contribution to the Unity Festival, WoTld Suicide Preveniion Day. Party in th¢ Park lan alcohol free am'artnegs evertil, Dalion Day and aitended some of OUT partners AGMS. In Febntsry 23, one of our directors trav¢lled io Koikata, India, along51de BaT[ol, Women's Community Matters and local ¢atIveS. This trip was to creatively explore Barrows historic links to the Jute trade. Whilst there we were able to make link$ with some amazing organisaiions includin8 All Bengal Wo¢,$ Union, Si jam,$ School, Destiny Foundation and FutUTe Hope. We hosted our secottd face to face pridc event in May 23 which attracted over 7,000 peoplc. Our aim around prid¢ is to eduraie and 2023 saw an increase ill requesis for LGBTQ+ and Traus AwaretL¢5S trainingy folloMryn8 on from the eveni. Fourteen performers ¢nienained th¢ crowds alongside two art exhibitions, a Thethodist 5¢rvic¢ and a talk about sum)8acy. We hosted over 14 InforntIon and advice stalls: the library facilitated pride themed art5. crdfts and storytelling; emergency vehicles were prcseni and all rhe icch was covered by Cando FM. Diversity and inclu$i(>n is so imporiani across all our communities. so w¢ arc proud ihat th¢ event 15 growing aDd ¢duratin¥ a¢ioss th¢ County. We became a patron for th¢ Love Barrow Awards which recolS¢S all ihe amazing work that local organisation5 deliver and feel by supportin8 this event we ean build new and stren8then current partnerships. Page 4
DROP ZONE YoirrH PROJEcfs LTD. REPORT OF THE TRLSTEES FOR THE I'EAR E.YDED 31 DECE%IBLR 2023 FIYANCIAL REVIEW Financial positlOD The levcls of restncte(L desi8tiat¢d and UrWe5rricd funds ar¢ dewled in no 12 ro the accounts. Urtrestri¢ted rescrvc levels allow to have som¢ fl¢xibility wthilst pursuin8 new Restricted fimds are held to fidfil the rquirenxnLS of fiumk De5i8naied fijnds of £90.fKrf> have beetl implemend by the trusTees thi5 year w includ¢ £45k support programme development and n¢w salary w costs ar¥J £45k io compluwtt the Youth Inves¢meni Capital Funds in the renovation of th¢ buÈldin& Other desi8Mi¢d funds of £l.135 rela 10 doM¢ions bein8 applied to specifi¢ purposes. Relervtt pollcy It l5 the trustees policy thai wyL%¢ri¢ted Tes¢Thes should cover thrtt operatin8 COSt& ¢urre#ily ¢alculakd at £1 Isk. The unresiricted reserves at 31st Ik¢embcr 2023 and 3 Isi De¢anber 2022 exceeded the policy requiremenl. Colng concern Th¢ financial stements have b¢¢n prepwed on a 80irt8 toK¢rn b1$. No moterial cir¢urnslanc¢5 r¢8arding the obiliiy to ¢ontinue exiiL FUTURF. PLA.%S The fundin8 5ccured from the Youth lnves1rrTrf Funds of £607k tosether th¢ fimds desipwted by thc trustccs of £45k will enable the Tefurbishmeni lo the building b¢ ¢omm¢nccd in the $umnYr of 2024. This will provide stabilily for our services io grow and develop eDSLring th•t we comiti to provide & expen¢ Jd oppOrDJniii the youn8 people in the Furnesg &r¢a. STRucfuRE, GOVERNANCE AND MANAGEMENT Gov¢rnlni do¢umtnt The company Is i compony limikd by Ku4rane Athl a re8iStered ¢hwity. It 1$ govern by its men¥)rdUrn and Articl¢$ of Associaiion. Each thjslee is a tyKn4xr of the cOmpy. Tr memkn hav¢ guaTaned tk liability of the cortwkny lo a limit of £1 each. Recryl¢ment •ttd Appolntrnent of new tru¥tttS New TA1¢¢5 arc appointed by lh¢ i)ard of trustee$ ai the Ahm1 General Meetuw atsl scr¥e until th¢y resign or retire. New member5 are invited to meet with board and direewTS and uke pffi in an IIMIli0ft pr¢$$ to en5urc Infornlion is current and relevant. Rlyk rnanAg¢nni Thc nsices in ac¢ordan¢e with theirduty have idcntified and miewed risks th"¢h the charity is exposed and ¢n5ured appropriate controls are in place to provide 8 reasonable Lwratte winst fra and error. The key risk and ¢he ¢¢)ntrols in place arc detailed below.. - Safeguarding of youn8 people and vulDerabl¢ people. All of the dire¢tor¥ officers aTrJ volunteer5 hold valid c¢rtifirates from th¢ Disc105ure and Barrin8 Service. - Continuity and developmenl of service5 8nd fijnding by h•vin8 8 leas¢ for our Tnain buildin8 which 15 firnished 10 provide a full ratt8¢ of 5¢rviccs. The chan.ty is curreDily De8Otiatillg a lease the wuncil for LAk¢land House and funditi8 ha5 been se¢ur¢d for the r¢firtitshmeM of th¢ site. which will ¢0mMCe in 2024. The charity is currentty reviewing the Ch&riry GOv¢mat Codc to irKryrdte good 8overnat)¢e into the or8anisatioNI prdciices. Page 5
DROP ZOliE YOUTh PROJECTS LTD. REPORT OF THE TRLSTEES FOR THE YEAR EP*DED31 DECEMBER 2023 This report h&% beert Pr in a¢¢ordan¢e with the spKiai provisions of Part 15 of the CompaDie5 Act 20( relating to STnall rompani¢s. Approved by order of the ly)ard of trUe¢S OD 3 sleMber 2024 and signed on its behalf by.. Mr M C Cumming. Trustee Pw6
INDEPEP4DENT ELiMINER'S REPORT TO THE TRUSTEES OF DROP ZO•4E YOUTH PROJECTS LTD. Independtnt Èxaminer's report to the tn15¢ees of Dn>p Ttte Y•uth Projects IAd. ('the Company.) I report lo the ¢harity tnLStces oll my examination of the aOunt$ of & Company forthe year end 31 DnE 2023. RespoN$lbUltles and basi5 of report As the ¢h2ritys I81e¢S of the Company laEJd also its directs for the purposes of company lawl you are T¢5pon5ible for the paraiion of the aeeounts in accoTdanc¢ with th¢ r¢quirements of the Companies Act 21N)61'the 2(KJ6 Act'l. Having satisfied myself thai the aCCoLts of the Coryany ate not reqLEtred io be audid under Part 16 of the 2006 Act and ¥ft ellble br indepeDdeni examiDation. I reFrf>tt LD resp[ of my examination of your charity's accounts as cartied out UTLder Section 145 of the Charities Aci 2011 Ilbe 2011 Acri. In carrying out t)ry examination I have followed the Direction5 ven by th¢ C]Jarity CoDllDiSSiOtL Utlder Seaion 145{5} {bl of th¢ 2011 Act. Independent exaJlliner'$ ststetyeot Since your chariW5 gross inroTne ex¢¢ed¢d £250.0 your examincr a member of a listd i. I can Confirni thai I am qualifid to undutake the examinatJ(pn be¢ause l am a nymber of the 1ThslitUTe of Chartered Acrowitartts Jn England and Wales, which i5 one of the listed bCleS_ I have eonjpleted my ¢Kaminatioty l ¢o]Jfwm that no matters have comc to rny atteDtiOD ID collnefflion with the examination vin8 me cause io believe". counting re¢ords w¢r¢ not kepi iti ryt of the Companyas required by SecuoD 386 of the 2006 Act., or the accounts do not arwrd with th05¢ r¢cords," or the accounts do noT ¢ofDply with th¢ ¥Coting r4uiremethts of Section 396 of the 2(X)6 Aci other than any requir¢Tn¢nl that th¢ accounts ve • tru¢ aT f•"r vi¢w w4Ji¢h is noi a maller cojjsidered as part of an indep¢ndent examination" or the accounts have not b prepared in XfOTdaTKe with the Tnethods and principles of the Stai¢meni of RornIn Pra¢ti¢e for account]ng and r¢portJJJg by ¢hariti¢s lapplicable to thatilies preparing their accounts in accordance with th¢ Financi31 Rwrttng Stsjjdard appliubl¢ th¢ LK al Republic of Ireland {FRS 10211. I have no ¢oncems and have Come a¢ross no other ma¢¢eJs ir) ¢onnection with the examinatiott io whi¢h attention should be draw in this rert in or(krto ¢llable a proper undeTSTaDthng of the accoullts to be rearbe J F Hornby. FCA J F Horuby & Co Chan¢r¢d Accountants The Tower Daltongate Bu5irKs5 Cetth Daliong)ie Uiverston Cumbria LA12 7 3 Sept¢mtr 2024 Pag¢ ?
DROP ZOliE YOUTh PROJECTS LTD. STATEMETrqT OF FIPXNCI.4L AcfiviTIES (INcORPORATIG INCOME EXPENDITLRE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 Total funds 31.12.22 Toral funds UTW¢StTiC funds Restrictcd funds Nos II%COME AND ETr47)OWME%TS FRO.M Donations and Ic8acies 4.752 4,852 1.961 Charitable activities Youth Activities and S•vitts 105.187 157.635 262.822 314.613 Other trading xtiviti¢s Jt)vesttw¢ iTKtsme 5,262 2.331 5262 2.331 1,750 236 TolAi 112.880 162.387 275267 318,560 EXPED1TLRE ON Charltable *¢thities Youth Activities atld krvices 102.448 176.682 279.130 296,776 NET INCOMEI{EXPENDrrL'RE> 10.432 105.230 {14,2951 {105,2301 (3.8631 21,784 Transfer5 behTr'een futtd$ 12 Net movement In funds 115.662 (119.525) (3.863) 21,784 RECONCILL4TION OF FUNDS Total futyjs brou8hi forn 111261 208240 319.501 297.717 TOTAL FbNDS CARRIED FORWARD 226.923 88,715 315,638 319,501 The notes form part of thes¢ fjnancial statemeats Page 8
DROP ZOT4E YoirrH PROJECTS LTD. BALANCE SHEET 31 DEcE[BER 2023 31.12.23 Total funds 31.12.22 Total funds UnTestric*d fiu)ds R¢5tricted futM15 Note$ FJXED ASSETS Tan¥ible wets 320 320 CURRENT ASSETS D¢btor5 Cash at bank and in hand io 8,019 223,443 2,345 88,405 10,364 311,848 26,038 293,904 231,462 90,750 322,212 319.942 CREDITORS Amounts f8Jling due one year {4,861) 12,0331 {6,8941 11,554} NET CURRENT ASSETS 226.601 88.717 315,318 318.388 TOTAL ASSETS LESS CURRENT LJABILITIES 226,921 88.717 315.638 319,501 NET ASSETS 226,921 88,717 315.638 319.501 FUNDS UnrestTjcd filnds Restricted fiLnds 12 226.921 88,717 208.240 TOTAL FUNDS 315.638 319,501 The cbaritsble conjpany is entitled to exernpiion from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. The members ha not required the company io obthin an audit of its fin2llciAI stsiem¢nts for the year ended 31 DecembeT 2023 in 4CCOTdanc¢ wilh Section 476 tsf the Companies Act 2(M)6. The trnsi¢es a¢knowledge their responsibiliii¢s for (al ensuring that the charitable coJJ4)aDy keeps a¢¢outLting records thai ¢omply Seciions 386 and 387 of the Companies Act 2006 and preparing financial statements which give a tDJe al fair view of the state of affairs of the chariiable company as at the end of each financial y&ir and of its surplus or dcfieit for each financial year in accordanee with the r¢quir¢ments of S¢ctions 394 395 and WhCh ¢>th¢rse comply wilh th¢ r¢quir¢m¢nts of the Companies Aci 2006 relating to financial 51atemellls, so far as applicable to the chariLqble eomp8ny. (b} The notes form part tsf th¢s¢ financig41 statements Page 9 olltillued...
DROP ZONE YOUTH PROJEcfs LTD. BALANCE SHEET- contlnued 31 DEcE]BER 202J These fjnancial 8tateTnents have been prepared in ac¢ordan¢e with the provisions appli¢abl¢ io charitsble companies $ubjeei lo the stnall companies regim¢. The fancial 51at¢ments We approved by the Board of TTusie¢$ 2Dd auihorised for i55ue on 3 S¢ptember 2024 and w¢re Sied on its behalf by.. YtL L fJ' &AHJ(L l Luirr- 4pJ The JJote$ fomi part of thtse financial stat¢rnents Page 10
DROP ZONE YOLTH PROJECTS LTD. OTES TO THE FI%thCIAL STATEMENTS FOR THE YEAR E.%DED 31 DECEIIBER 2023 ACCOUNTII%G POLICIES Basis ofpreparing the fiThncial stte]nents The fLnanc121 staiemenis of the charitable Company, thich is a bliC bencfit entity under FRS 102. ve been prcpared in a¢¢ordan¢c Mith the Choniiu SORP (FRS 1021 'A¢¢owtin8 and Reponin8 by Charities.. Sraicment of Recommended Praetice applicable chan.ties prepanng their aecounts in accordance the FiTwicial Reporting Standard appliLable in the UK arml Republic of Ireland IFRS 1021 leffeeiive l January 20191.. Fitwicial Reporting Standard 102 The Financial RepTrrtin8 Sthndard applicable in the UK ar¥J Rcpublic of Ireland, atyj the Companie$ A¢t 2(M)6. Th¢ financial stai¢ments have b¢¢n prepared r the hLStoncal cosi eonvenrion. All incorr£ 15 recosed in the Statement of Financia] Activities thc chuity entitlement to the funds, li 1$ probAbl¢ that the iome will be r¢¢¢iv¢d 4NI th¢ Munt C b¢ reliably. GrAnts received tre credited to profit aThl10s5 account in the financi on a receivAble btsi5. TuDVer is the all11 derived from the provision of 3ervice& nei of VAT. Exp¢ttdl¢tsre Li4bilili¢s ¢ reco1$ ts eKpeThditu as soon as there is a Icgal or constnKiive obli8aiion conllnittin8 ihe chariiy to thai expendiThJre. Ll LS probable th41 a tronsf¢r of ¢¢0Mi¢ bet)efits will be requir¢d in settlement and the amoun¢ ofthe obligaiion can be m¢asur¢d r¢liably. Expendit 1$ a¢¢ouni¢d for on b15 ar ha5 b¢¢n clwifiLd under headJn85 thai a88Te8aie all ¢ost r¢lai¢d to the uieBory. Where ¢o$¢s ¢at)t)01 be dire¢dy attributed to pArticuknr headings they have been illocaied to aciivLiies ort • b•sis ¢Orts1¢t with the use of r¢sourc¢s. TaThglble Ilx¢d Awts D¢pr¢ii41ion 1$ provid¢d ai the followitig wjnual rate5 ID order to write off ass¢t over ity Mimatrd usem life. Fixtur¢s fittings Computer equiprtt 21P/• on Eos¢ 33% on tost Tattgible fixed a55¢ts ¢05ting nxjre than £5( are capithlixd recols¢d ecothomic beneflts are proble and the cosl of the a5M cm be SUred reliably. Txalion As a charity. DTOP ZA)n¢ Youth ProJKts 1$ exempt from on i>rne and gains falling within 8eciions 472474 of the Corporation A¢t 2010, sttiion$ 478A89 of the corFratiOn Act 2010. or $e¢tion 258 of the Tallon of Char8eable fjaitis A¢1 1992 th¢ cxiclli that tl%se art apphed ¢han"tsble obJec¢s. No lax Charges have arisen it) the Charity. Fund •cc•undng Unrestrici¢d funds ¢an be used in •ttordatKe with the charitable ¢)bjKiiv¢s the discreiion of the trustees. Restri¢t¢d ¢w) only bc used for particular res¢ricttd pwposes within the objxts of the charity. iiestrictions 8rise when y¢ifi¢d by the doM)r or when funth are raiseA forpArn¢ular f¢Stri¢ted pwp05CS. [ks1*d fithds are UrtriCted fis thai have bttn s¢1 #side by th¢ Tnlee5 for a pArn"¢ylar purpos¢. Pensiott COSts and other pMt-retlr¢m¢nt bentfits The charitsble company operates a d¢fin¢d Contribution perLsion schcme. ContributlOa5 payable to the charitable Comp5 pension scheme are charged to th¢ S¢1 of Firkancial Aciivities in the penod to which ihcy relaie. Pagell continu¢d...
DROP ZONE YOLTh PROJECTS LTD. OTES TO THE FLINcIAL STATE.%ILNTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 tK)NATIONS AND LEGACIES 31.12.23 31.12.22 Donaiiot)$ 4,852 1,961 OTHER TRADINC ACTIVITIES 31.12.23 31.12.22 oorn hire Sundry T¢ipts 5,262 1,568 182 5.262 .750 II¥VESTMENT INCOME 31.12.23 31.12.22 Dw$ii CoUnt intere 2,331 236 NET IliCOMEI(F.XPF.liDITLRE) Nel incOn{exPIluTe) is swed after Chargin(¢[¢dItI8)'. 31.12.23 31.12.22 Depreeiaiion- owryhed wL8 Deficil on disposal Orred assets 748 45 2.475 TRUSTEES. REMUNERATION AND BENEFITS There were no trtte5, OT other benefits for the yezr ¢ThJed 31 December 2023 r for the year end 31 December 2022. Trustees expen 31.12.23 31.12.22 59 TnLrfce expenses TelAt¢ to travel costs TrillknuT5cd kn one tnL8tee. Pa8e 12 continued...
DROP ZONE YoiTfH PROJEcfs LTD. I%OTES TO THE FINLICIAL STATEIIE%TS- ¢(JDtiDv¢d FOR THE I'EAR ENDED 31 DECEIIBEK 2023 STAFF COSTS The avera8e monthly nuTtther of employees durin8 the year was a5 follows: 31.12.23 31.12.22 Stsff No employce5 received tr)luDnts in excess of £60.1MM). The key maTthgemeTLi r$Oll1 of the cbarity ¢OmPnse th¢ Tru5rce5 and the seDior man2genTht team &$ listed oll page l. Total key maJJa8emeni petSOtJn¢l remuneratton and benefits lincluding employer pension contributions and eJnploy¢r nailoal i]Jsuratte ¢OOtyitnLtiowl for th¢iT 5¢rvir¢s the cban'ty was £103.393 (2022: £90,999) INDEPENDENT EXAMI.YATIO The prepardrion of accounts atml indeFndenL examinauon has been wfomd by JF HoTnby & Co free of charge as pan of their eharirable activities. TyGIBLE FIXED ASSETS FixDJres Cojnpuier 4uipment fillings Totsls COST At l January 2023 Disposajs 721 61.860 (9.9821 62.581 (9.9821 Ai 31 Dec¢mber 2023 721 51,878 52,599 DEPRECIATIO At l January 2023 Ch2T8e foi year Elimitled on th"Spol 432 145 61,036 603 {9,9371 61,468 748 19,9371 At 31 De¢ember 2023 577 51,702 52.279 I%ET B(K)K VALUE At 31 December 2023 176 320 Ai 31 December 2022 289 824 Pa8e 13 totstthued...
DROP ZONE YOtrtH PROJECTS LTD. -NOTES TO THE FLNL%CIAL STATENIEJTS- continued FOR THE I'E.4R EN4DED 31 DECEIIBER 2023 DEBTORS: AMOUNTS FALLP4G DUE ITr'ITHI) 0E YEAR 31.1223 31.12.22 Trade d¢btOTS Oth¢r debtor5 8.103 2.261 26.037 LO.364 26,038 CREDITORS: AMOUD4TS FALLI)G DLTE WITHI% ONE YEAR 31.12.23 31.12.22 Trad¢ cr]¢Or$ Acrnwls and d¢f¢rred iTwm¢ 3,868 3,026 432 1.122 6,894 1,554 12. MOVEMENT IN FUNDS Trdnsf¢rs beN'een Ai 31.12.23 At 1.1.23 itj funds L'nrestricted fullds Generdl fiand D¢5ignated fund$- reserves lLeY D¢51gnat¢d fillS- building Designxt¢d fiLt41$- devcli>pnI D¢signat¢d- other 111261 10,935 {5051 1101.4101 115.505 45.(KK 45,0 1,135 20,786 115.OIN) 45.0 45.0(M) 111261 10.430 105,230 226.921 R¢$tr5¢t¢d fMAd$ R¢stricted Equipment and r¢sour¢¢5 Expanding horizons Investing in fvttlre development of charity Improvirt8 health and we]lbeg LGBTW support SctK>ol holiday provisio Supponing core costs 98.070 2.560 20,388 198,0701 11721 (4451 3,522 6.021 {20,213} 4.189 14341 16.933) 1.943 23.910 6,021 6.140 10.651 32,939 6,462 434 47J87 (6.586) 1402 40.052 208240 (14,2931 (105230) 88,717 TOTAL FUNDS 319.501 13,8631 315,638 Page 14 continued...
DROP ZONE YOUTH PROJECTS LTD. FIOTES TO THE FLINC[AL STATE.IfE)TS- eoDtiDu¢d FOR THE I'EAR ENDED31 DECE.%IBER 2023 12. MOVEMENT IN FUNDS- ¢Olllittu N¢t mDv¢ment in fimds, ]luded in th¢ above are as follwAS: Ineoming Reg)UT¢es exPej1 Mov¢Tnent in fitnd$ Unrestritttd [ndS G¢n¢ral fLJnd Desigthated fimds- r¢seThes policy 112.880 101,9451 15051 10,935 1505} 112.880 1102.4501 10.430 Restricted fullds Equipmertt and resour¢es Expanding honzons IDvestw in tsjre dev¢1opni of cbarity Improving health and wellbeing LGBTQk SUPTM)rt School holjday prO$10n Supporting core costs Other fvnding 6,199 17.575 6.5 399 15.630 21.774 89,226 5.084 (6,6441 114.0531 14791 120.6121 111.4411 122.2081 {96,1591 15,084) 14451 3,522 6,021 120.2131 4.189 14341 16.9331 162.387 (176,680) {14,293) TOTAL FUYDS 275.267 1279,1301 13,8631 Comparativu for owvejllellt ID fuDd5 Net movement Ai 1.1.22 31.12.22 Unrestrleted fwmd$ General fund 120,233 18,972) 111261 Restrleted furtds Restricted 177.484 30,756 208,240 TOTAL FUNDS 297.717 21.784 319.501 Pag¢ 15 continued...
DROP ZONE YOtrTH PROJECTS LTD. NOTES TO THE FI.%LYCL4L STATEf+lENTS- tontinued FOR THE YEAR ENDED 31 DECEMBER 2023 12. MOVEMEYT Ir4 FUNDS- eontinued Compardtive ne( movement in funds, included in the above are a8 follows-. Incoming r¢sources Resource5 expended Movement in funds b'Dr¢$trlcted funds General fund 88,473 197.4451 18,9721 Rtstrleied fund$ Resrricicd 230.087 1199.3311 30,756 TOTAL FUNDS 318,560 1296,776 21,784 DESIGNATED FUNDS Dethils on Ihe desi8naied funds currently held are provided below.. Reserve Policy - fi]nd5 Set aside by thc trusttt to rncct 3 month5 8niieipai¢d experjre irt line with the reserves policy Buildin8 improvements- funds sei 8side 10 support fiiiin¥ and furnishin8s and other costs unable to be 8ranl funded when th¢ buhldins is redeveloped. D¢v¢lopment- fund5 set &%ide to support stafflng and proj¢¢t dcv¢lopm¢nt ij. RELATED PARTY DISCLOSURES There w¢re no relit¢d party trinsaclion5 for the yeAT ended 31 Decemb 2023. 14. GENERAL INFORMATIOY Drop Zonc Youth Project5 Ltd is a company limited by guarantee and incorporated in En8land. It's re8i$i¢Ted otYic¢ i5 LakclaThd Hou5c. Abbey Road. Barrow In Furn¢s$. Cumbria, Unii¢d Kingdom, LA14 1 XL. The financial statements are presenied in sl¢rlin8, whJ¢h LS the th¢tional ¢urren¢y of the comparty. Page 16
DROP ZX)NE YOttrH PROJECTS LTD. DETAILED STATEMEf*T OF FINANCIAL ACTtVlTIES FOR THE YEAR ENDED JI DECEMBER 2023 31.12.23 31.12.22 IPICOME AND ENDOwmETs Dongtlons gnd leggcles Donations 4,852 1,961 Other tradlng activities knom hiT¢ Sundry re¢eipts 5,262 ,568 182 5,262 1,750 Investment incorne Deposit account interest 2,331 236 Charitable attiwitie5 Youth work Secondment Grants 105.187 5,084 152,551 84,526 19.366 210,721 262,822 314,613 Totsl incoming resource5 275,267 318,560 EXPENDITURE Cbgritable activities Wages Social security Pensivns C2tering Trdvelling Youth days and a¢tiwti¢s Sub-¢ontra¢ioTS 184,154 3,659 3,306 1,745 583 13,923 14,754 184.190 9.421 3.346 717 881 16.916 39.528 222.124 254.999 Support costs ManagerneDt Ttusiees, ¢xpenses Rent and raks Insurdnce Light and heat Telephone Posthgie and stationery Carried forward 59 1,251 3,135 18,152 7,842 1.253 31,692 3,848 3,640 7,545 5,146 1.297 21,476 This page does noi forni part of the sts¢utory financial statements Page 17
DROP ZONE YOUTH PROJECTS LTD. DETAILED STATEMEliT OF FLNANCIAL ACTIVITIES FOR THE YEAR EYDED 31 DECEMBER 2023 31.12.23 31.12.22 Management Brought forward Adv¢rti5ing Sundrics Legal and professional fees Repairs Refuse removal Staff traming Subscriptions CoTnpul¢T expenses Cleaning Donaiions Depreciation of fixtures & fit iin8S Depreciation of compuicr equip ment on sale of [anb]e fjxed assets 31.692 2.610 102 7,524 7.872 21,476 2,072 156 2,864 1,546 119 1.856 2,088 3,683 1,227 2,140 144 2.331 1,438 3,088 705 603 45 56,932 41,702 Finan¢e Bar charge5 74 75 Total resource$ expended 279.130 296.776 Net leipenditurevintome (3.8631 21,784 This page does not fonn part of the statutory fJn2n¢ial ststements Page 18