Registered Charity No: 1111445 Registered Company No: 4328703 (England & Wales)
SAFFRON YOUNG PEOPLES PROJECT LIMITED (A Company Limited by guarantee)
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2022
SAFFRON YOUNG PEOPLES PROJECT LIMITED
Index to the Annual Report and Accounts For the year ended 31 July 2022
| Page | |
|---|---|
| Charity Reference and Administrative Details | 2 |
| Trustees Annual Report | 3-5 |
| Trustees responsibilities | 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10-12 |
Page 1
SAFFRON YOUNG PEOPLES PROJECT LIMITED
Charity Reference and Administrative Details For the year ended 31 July 2022
| Charity Name | Saffron Young Peoples Project Limited | Saffron Young Peoples Project Limited |
|---|---|---|
| Charity Registration Number | 1111445 | |
| Company Registration Number | 4328703 | |
| Registered Office | Saffron Resource | Centre |
| 432 Saffron Lane | ||
| Leicester | ||
| LE2 6SB | ||
| Directors/Trustees | DT Myers | |
| AM Lamin | resigned 1st February 2023 | |
| RM Lamin | resigned 20th September 2021 | |
| LA Park | appointed 20th September 2021 | |
| A Cleaver | appointed 1st November 2022 | |
| Bankers | Unity Trust Bank | |
| Nine Brindleyplace | ||
| Birmingham | ||
| B1 2HB | ||
| Independent Examiner | Fiona Sanderson | BA(Hons) ACMA CGMA MICB |
| Miss S - Accounting for Purpose CIC | ||
| 68 Privett Road | ||
| Fareham | ||
| Hampshire | ||
| PO15 6SP |
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SAFFRON YOUNG PEOPLES PROJECT LIMITED
Trustees Annual Report For the year ended 31 July 2022
The trustees present their report and accounts of the charity for the year ended 31 July 2022. The trustees/directors have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102) in preparing the annual financial statements of the charity.
The accounts have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the the UK and Republic of Ireland published in October 2019 (second edition).
Trustees
The directors of the charitable company are also its trustees for the purpose of charitable law. The trustees who have served during the year and since the year end are:
DT Myers AM Lamin resigned 1 February 2023 RM Lamin resigned 20 September 2021 LA Park appointed 20 September 2021 A Cleaver appointed 1st November 2022
Structure, governance and management
The Charity's constitution is set out in its Memorandum and Articles of Association (as amended 8 December 2008) and provides for the trustees to be appointed by other trustees and to be registered on the Charity Commission website accordingly.
The charity seeks to ensure that its trustees have the appropriate mix of skills to guide the work of the Charity and is continuously seeking ways to put in place succession arrangements for new trustees.
During 2021/22 the Trustees had meetings once every two or three months. In terms of risk management, the trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
Objectives, activities and public benefit
The main objective for the Project during the year was to provide a detached youth work provision for the young people and families on the local estates in Leicester. The estate lies in the top 2% most deprived areas in England and so more of the young people we come into contact with, have to tackle social issues, such as bullying, unemployment, racism, social exclusion and deprivation. Once trust has been gained, then these issues are challenged through activities, one to one interventions and street sessions.
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SAFFRON YOUNG PEOPLES PROJECT LIMITED
Trustees Annual Report (continued) For the year ended 31 July 2022
The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission for England and Wales.
Major risks and management of those risks
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Trustees review the risk register on a half yearly basis and take action where necessary when new risks are identified.
Financial Review
During the year under review, the Charity received grant income of £85,773 (2021: £187,098). The charity expensed £145,154 (2021: £130,708) on the furtherance of its charitable activities. Included in these figures are fundraising costs of £nil (2021: £6,760) relating to assistance to the charity for bid writing to funders to ensure the funding streams are maintained.
The Charity's net assets at 31 July 2022 were £107,755 (2021: £167,137).
The trustees are aware of the level of reserves that the charity currently hold and are reviewing other areas in which young people in the local community can be helped.
The decrease in reserves relates to spending of previous restricted funds not spent during the pandemic.
The charity continues to be successful and thanks are recorded to funders. Funding received is enabling additional activities to be developed. Online feedback and reporting systems are being developed and digital interaction with young people is necessary and increasing.
The success of the projects the Charity delivers is dependent on the support of its members, volunteers and, of course, it's funders. We thank all those involved in the Project for their commitment to the charity during the year.
Reserves
At the end of the year the reserves were £107,755 (2021: £167,137), of which £40,335 (2021: £46,384) were unrestricted, and £67,420 (2021: £120,753) were restricted. Unrestricted reserves are needed to cover core costs not covered by specific restricted funding towards projects.
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SAFFRON YOUNG PEOPLES PROJECT LIMITED
Trustees Annual Report (continued) For the year ended 31 July 2022
Achievements and performance
This last year has seen the project finally get back to some form of normality. Numbers at activities have been on the up and there has been a general feel-good factor around the estate and with the young people we work with.
Due to an historic underspend that we had to use, the girls project funded by Children in Need did not start until October last year. This is now in full flow and Rachael is very pleased with the commitment that the team are showing. The beauty of continuation funding is that there is no “bedding in” as such and the team have continued with their weekly activities. The underspend gave us the opportunity to purchase some outdoor sports equipment which, when the better weather comes will be used at our local youth centre. We have formed a good working partnership with Leicester City Council which we hope to develop further this year.
The football sessions have recovered both in numbers and levels of enthusiasm within the boys attending. A down side is that we were unable to continue our support from Samworth Brothers and so we are now looking for alternative funding. At the moment it is being funded by the National Lottery but extra support will be required to achieve continued sustainability. Our numbers are back in the 30s for this session and the lads really look forward to their Friday nights.
Our knife crime project is probably the most important piece of preventative work that we do as it is a subject that unfortunately continues to be at the forefront of media attention. Just last month, a young man who used to be a regular attender at our sessions was sentenced to 8 years in prison for seriously wounding two men who had tried to attack him whilst he was out with his daughter. The fact that he felt the need to carry a knife in his car for fear of attack speaks volumes with regards the real need for our work to continue in the local schools and sports clubs. We are currently in the process of applying for continuation funding from the Tudor Trust to enable us to carry on this essential work.
The Lottery project continues to be the mainstay of our organisation and as we enter the 4th year of funding we are already looking to explore avenues of continuation. It has always been our aim to make the Lottery one of our funders rather than “the” funder and this is something that I will be talking to our grants manager about in the coming year. We continue to deliver essential one to one work in our street sessions as well as our gym sessions where our young people have the opportunity to open up to us and disclose their issues in a confidential setting.
Last year gave us the opportunity to stage our annual summer fete for the first time since the pandemic an I am pleased to say that in blistering heat we had a fantastic day with a bumper crowd. Everyone expressed their gratitude on the day and said how much they had missed the event. We were able to provide free fairground attractions with discounted drinks and snacks which also went down very well.
This coming year sees a concerted effort from all the team to seek future funding to sustain the project, as well as continuing to deliver the work that we all enjoy doing.
Going concern
With the ongoing support of our funders and plans for funding for future years, the trustees have considered the financial position of the Charity and the going concern basis continues to remain appropriate.
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SAFFRON YOUNG PEOPLES PROJECT LIMITED
Trustees Annual Report (continued) For the year ended 31 July 2022
Trustees' responsibilities in relation to the accounts
The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charitable company for the year.
In preparing those financial statements, the trustees are required to:
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Selecting suitable accounting policies and applying them consistently;
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Observing the methods and principles in the Charities SORP 2019 (FRS102);
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Making judgements and estimates that are reasonable and prudent;
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Stating whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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Prepare the financial statements on a going concern basis, unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities 2019(FRS 102) and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the trustees of the charity on 24th April 2023 and signed on its behalf by:
Danny Myers
Danny Myers (Apr 24, 2023 16:09 GMT+1)
Danny T Myers Chairman
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SAFFRON YOUNG PEOPLES PROJECT LIMITED
Independent Examiners Report To the Trustees of Saffron Young Peoples Project Limited For the year ended 31 July 2022
I report on the activities of the Saffron Young Peoples project for the year ended 31 July 2022, which are set out on pages 9 to 13.
Responsibilities and basis of report
As the charity's trustees, who are also the directors for the purpose of company law, you are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for the year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:-
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examine the accounts under section 145 of the 2011 Act,
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to follow the procedure laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act, and
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to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities.
have not been met or;
(2) to which in my opinion, attention should be drawn in order to enable the proper understanding of the accounts to be reached.
Fiona Sanderson BA(Hons) ACMA CGMA MICB
Miss S - Accounting for Purpose CIC
68 Privett Road Signed: Fareham Hampshire PO15 6SP
Date: 21 April 2023
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SAFFRON YOUNG PEOPLES PROJECT LIMITED
Statement of Financial Activities
(incorporating Income and Expenditure Account) For the year ended 31 July 2022
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| **Unrestricted ** | Restricted | Total | _Unrestricted _ | Restricted | Total | |
| Funds | Funds | Funds | Funds | Funds | Funds | |
| Incoming Resources | £ | £ | £ | £ | £ | £ |
| Incoming Resources from | ||||||
| Charitable Activities: | ||||||
| Donations | - | - | - | 2,000 | - | 2,000 |
| BBC Children in Need | - | 14,345 | 14,345 | - | 28,337 | 28,337 |
| Big Lottery | - | 69,428 | 69,428 | - | 83,168 | 83,168 |
| Samworth Brothers | - | - | - | 22,618 | - | 22,618 |
| Tudor Trust | - | - | - | - | 25,000 | 25,000 |
| Groundwork - Comic Relief (Covid) | - | 2,000 | 2,000 | - | 2,000 | 2,000 |
| Leicester Christian Medical | ||||||
| Fellowship (Covid) | - | - | - | - | 4,390 | 4,390 |
| National Lottery (Covid) | - | - | - | - | 9,585 | 9,585 |
| Garfield Weston | - | - | - | - | 10,000 | 10,000 |
| Total Incoming Resources | - | 85,773 | 85,773 | 24,618 | 162,480 | 187,098 |
| Resources Expended | ||||||
| Charitable Activities | ||||||
| Salaries, NIC and pension | 4,178 | 103,683 | 107,861 | 509 | 100,695 | 101,205 |
| Training Staff | - | 172 | 172 | - | - | - |
| Training Young People | - | 16,651 | 16,651 | - | 5,163 | 5,163 |
| Travel | - | 34 | 34 | - | - | - |
| Insurance | - | 1,104 | 1,104 | - | 1,208 | 1,208 |
| Rent | - | 12,000 | 12,000 | - | 12,000 | 12,000 |
| Computer Maintenance | - | - | - | - | 50 | 50 |
| Office Equipment and stationery | - | 867 | 867 | - | 188 | 188 |
| Sundry | 250 | 256 | 506 | - | 284 | 284 |
| Telephone Expenses | - | - | - | - | 140 | 140 |
| Bookkeeping & Payroll | - | 2,835 | 2,835 | - | 2,465 | 2,465 |
| Management Accounts | - | 605 | 605 | - | - | - |
| Website maintenance | - | 275 | 275 | - | 275 | 275 |
| Fundraising Costs | ||||||
| Fundraising Costs | - | - | - | - | 6,760 | 6,760 |
| Governance Costs | ||||||
| Accountancy fees | 1,620 | 420 | 2,040 | - | 1,100 | 1,100 |
| Other Fees | - | 205 | 205 | - | 181 | 181 |
| Total Resources Expended | 6,048 | 139,106 | 145,154 | 509 | 130,509 | 131,018 |
| NET INCOME/(OUTGOING) RESOURCES | (6,048) | (53,333) | (59,381) | 24,108 | 31,971 | 56,080 |
| Transfers between funds | - | 6,902 | (6,902) | - | ||
| FUND BALANCES BROUGHT FORWARD | 42,723 | 96,764 | 139,487 | 11,713 | 71,694 | 83,407 |
| FUND BALANCES CARRIED FORWARD | 36,674 | 43,431 | 80,105 | 42,723 | 96,764 | 139,487 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 6
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SAFFRON YOUNG PEOPLES PROJECT LIMITED
Balance Sheet
As at 31 July 2022
Company Number 4328703 (England & Wales)
| CURRENT ASSETS Cash at bank Cash in hand Prepayments Current Liabilities Accruals Other creditors FUNDS Restricted Funds Unrestricted Funds |
£ £ £ £ 110,534 167,087 163 57 2,457 2,791 113,154 169,935 1,795 1,850 3,603 948 5,398 2,798 107,755 167,137 67,420 120,753 40,335 46,384 107,755 167,137 2021 2022 |
£ £ £ £ 110,534 167,087 163 57 2,457 2,791 113,154 169,935 1,795 1,850 3,603 948 5,398 2,798 107,755 167,137 67,420 120,753 40,335 46,384 107,755 167,137 2021 2022 |
|---|---|---|
| £ 110,534 163 2,457 1,795 3,603 |
£ 169,935 2,798 |
|
| 167,137 | ||
| 120,753 46,384 |
||
| 167,137 |
For the financial year ending 31 July 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charity to obtain an audit of its accounts for the year ended 31 July 2022 in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
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a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006; and
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b) preparing financial statements which give a true and fair view of the state of the charitable company as at the end of the financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to a charitable company.
These financial statements have been approved in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements on pages 9 to 13 were approved by the trustees on 2023 and signed on their behalf by
Danny Myers
Danny Myers (Apr 24, 2023 16:09 GMT+1)
Danny T Myers Chairman
Page 9
SAFFRON YOUNG PEOPLES PROJECT LIMITED
Notes to the Accounts For the year ended 31 July 2022
1 Accounting Policies
1.1 Basis of preparations of financial statements
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting practice.
1.2 Incoming resources
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
1.3 Resources expended
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement will be required and the amount can be measured reliably.
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Charitable activities include expenditure associated with the charity's objectives and include direct costs and support costs relating to these activities.
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Governance costs include those costs incurred in the governance of the charity, which relate to the general running of the charity.
1.4 Fund Accounting
Restricted funds are defined as ''funds subject to specific conditions, imposed by the donor and binding on the project''. They represent unspent income , to which restrictions as to their use apply.
Unrestricted funds are those funds generated without specific purpose, which the project is free to use in accordance with its objectives.
1.5 Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2 Trustee emoluments and benefits
None of the trustees received remuneration or any reimbursed expenses from the charity in the current or prior year.
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SAFFRON YOUNG PEOPLES PROJECT LIMITED
Notes to the Accounts (continued) For the year ended 31 July 2022
3 Staff Costs
The average number of employees during the year was 3 (2021: 3)
No employee received more than £60,000 in either year.
| 4 Net income/(expenditure) for the year This is stated after charging: Independent Examiners Fees |
2022 £ 1,020 |
2021 £ 600 |
|---|---|---|
5 Statement of Funds
At the end of the year,the charity held restricted funds, the purpose and nature of which are detailed below
Children in Need
A three year fund beginning in 2019 to enhance our girls' project, in the Saffron Lane Estate. This was extended until August 2022 to use up an historic underspend. A further 3 year funding has now been agreed.
The Big Lottery Fund
In December 2019 we were successful in securing a further five years funding from the Big Lottery. This is to cover the cost of the salary of the programme manager, senior key worker, travel, training accommodation and other operating costs.
Knife Crime Project
Funding from Big Lottery Awards for All, Together Leicester Diocese and Tudor Trust for the knife crime project.
Covid Funding
Funding from Groundwork (Comic Relief), Leicester Community Fund and National Lottery were provided to help with services during the Covid pandemic. These funds were all spent by October 2021.
Garfield Weston
This grant was awarded for the core costs of the charity and was spent by March 2022.
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SAFFRON YOUNG PEOPLES PROJECT LIMITED
Notes to the Accounts (continued)
For the year ended 31 July 2022
6 Analysis of Net Assets between Funds
| Total Unrestricted Restricted Children in Need Big Lottery Big Lottery-Awards for All Together Leicester Diocese Tudor Trust Groundwork - Comic Relief (Covid) Leicester Christian Medical Fellowship (Covid) National Lottery (Covid) Garfield Weston TOTAL FUNDS |
At 1 August 2021 46,384 25,790 57,183 1,993 5,434 17,741 172 1,564 876 10,000 120,753 167,137 |
Incoming Resources £ - 14,345 69,428 - - - 2,000 - - - 85,773 85,773 |
Outgoing Resources £ 6,048 26,917 72,392 1,993 5,434 17,757 2,172 1,564 876 10,000 139,106 145,154 |
Transfers between funds £ - - - - - - - - - - - - |
At 31 July 2022 £ 40,335 |
|---|---|---|---|---|---|
| 13,218 54,218 - - (16) - (0) (0) - |
|||||
| 67,420 | |||||
| 107,755 |
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