**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 2023**
## **SAFFRON YOUNG PEOPLES PROJECT LIMITED**
## **Index to the Annual Report and Accounts For the year ended 31 July 2023**
||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 2023**
|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||
||LA Park||
||AM Lamin|resigned 1st February 2023|
||A Cleaver|appointed 1st November 2022|
|Bankers|Unity Trust Bank||
||Nine Brindleyplace||
||Birmingham||
||B1 2HB||
|Independent Examiner|Fiona Sanderson|BA(Hons) FCMA CGMA|
||Miss S - Accounting for Purpose CIC||
||68 Privett Road||
||Fareham||
||Hampshire||
||PO15 6SP||
Page 2
## **SAFFRON YOUNG PEOPLES PROJECT LIMITED**
## **Trustees Annual Report For the year ended 31 July 2023**
The trustees present their report and accounts of the charity for the year ended 31 July 2023. 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 LA Park AM Lamin _resigned 1 February 2023_ 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 2022/23 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.
Page 3
## **SAFFRON YOUNG PEOPLES PROJECT LIMITED**
# **Trustees Annual Report** (continued) **For the year ended 31 July 2023**
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 £99,914 (2022: £85,773). The charity expensed £148,624 (2022: £145,154) on the furtherance of its charitable activities.
The Charity's net assets at 31 July 2023 were £59,044 (2022: £107,755).
The decrease in reserves relates to spending of previous restricted funds not spent during the Coronavirus 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 £59,044 (2022: £107,755), of which £47,158 (2022: £67,420) were restricted, and £11,886 (2022: £40,335) were unrestricted. Unrestricted reserves are needed to cover 3 months of fixed costs.
Page 4
## **SAFFRON YOUNG PEOPLES PROJECT LIMITED**
## **Trustees Annual Report** (continued) **For the year ended 31 July 2023**
## **Achievements and performance**
As we enter our final year of Lottery funding, the team have been working hard to put things in place to continue our much-needed work on the Saffron Lane estate and surrounding areas. During this report I will talk about the activities that we continue to undertake as well as highlighting where we have been seeking additional funding.
We are into our second year of Children in need now and the girls project has seen a transition in new faces coming to our sessions. This is usually the case where we lose girls who move on to further education or employment, so even though it's with a tinge of sadness that we see them go, the new girls bring a breath of fresh air into our sessions.
This Christmas the girls enjoyed a party with all parents invited at the Aylestone leisure centre, which went down very well. we feel that it is vital to have parents on board so we can share experiences that the girls are facing and challenge them together.
I mentioned last year that our funding from the Samworth brothers had come to an end for the football project. I am delighted to say that we received two years funding from the Tudor Trust in November 2023 to carry on this fantastic project. The numbers are up even though we have had a grotty winter and everyone is looking forward to some lighter nights and warmer weather coming up.
Our knife crime project continues to be an important part of our work and with so many cases of antisocial behaviour affecting our local community, this project really hits home when we deliver it.
We have applied for three years funding from Henry Smith to be able to continue this work and we find out in March 2024 if we are successful.
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.
The lottery project continues to be the mainstay of our organisation and as we end our 4th year of funding in April we have been looking for continuation funding to carry on with our work. The fund we have applied for is a different strand of Lottery funding and it will enable us to expand our work in different areas and with new activities. We hopefully will have news of this in the coming months.
This coming year, with fresh funding and new faces, will hopefully see our project continue to thrive and carry on delivering the work and service that we have driven for the last thirty years.
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.
Page 5
## **SAFFRON YOUNG PEOPLES PROJECT LIMITED**
# **Trustees Annual Report** (continued) **For the year ended 31 July 2023**
## **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:
- Selecting suitable accounting policies and applying them consistently;
- Observing the methods and principles in the Charities SORP 2019 (FRS102);
- Making judgements and estimates that are reasonable and prudent;
- Stating whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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 …....................................... and signed on its behalf by:
## Danny Myers
Danny Myers (Apr 19, 2024 10:57 GMT+1)
Danny T Myers Chairman
Page 6
## **SAFFRON YOUNG PEOPLES PROJECT LIMITED**
# **Independent Examiners Report To the Trustees of Saffron Young Peoples Project Limited For the year ended 31 July 2023**
I report on the activities of the Saffron Young Peoples project for the year ended 31 July 2023, which are set out on pages 8 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:-
- examine the accounts under section 145 of the 2011 Act,
- 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
- 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
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) FCMA CGMA Miss S - Accounting for Purpose CIC 68 Privett Road Signed: Fareham Hampshire PO15 6SP
Date: 12-Apr-24
Page 7
## **SAFFRON YOUNG PEOPLES PROJECT LIMITED**
## **Statement of Financial Activities**
## (incorporating Income and Expenditure Account) **For the year ended 31 July 2023**
|**Incoming Resources**
**Incoming Resources from**
**Charitable Activities:**
Donations
BBC Children in Need
Big Lottery
Tudor Trust
Sported Foundation
Groundwork - Comic Relief (Covid)
**Total Incoming Resources**
**Resources Expended**
**Charitable Activities**
Salaries, NIC and pension
Training Staff
Volunteer Expenses
Training Young People
Travel
Insurance
Rent
Computer Maintenance
Office Equipment and stationery
Sundry
Telephone Expenses
Bookkeeping & Payroll
Management Accounts
Website maintenance
**Fundraising Costs**
Fundraising Costs
**Governance Costs**
Accountancy fees
Other Fees
**Total Resources Expended**
**NET INCOME/(OUTGOING) RESOURCES**
Transfers between funds
**FUND BALANCES BROUGHT FORWARD**
**FUND BALANCES CARRIED FORWARD**|**Unrestricted**
**Restricted**
**Total**
_Unrestricted Restricted_
_Total_
**Funds**
**Funds**
**Funds**
_Funds_
_Funds_
_Funds_
**£**
**£**
**£**
_£_
_£_
_£_
**1,000**
**-**
**1,000**
_-_
_-_
_-_
**-**
**32,460**
**32,460**
_-_
_14,345_
_14,345_
**-**
**55,954**
**55,954**
_-_
_69,428_
_69,428_
**-**
**10,000**
**10,000**
_-_
_-_
_-_
**-**
**500**
**500**
_-_
_-_
_-_
**-**
**-**
**-**
_-_
_2,000_
_2,000_
_2022_
**2023**|_2022_|
|---|---|---|
||**1,000**
**98,914**
**99,914**
_-_
_85,773_
_85,773_||
||**27,802**
**79,683**
**107,485**
_4,178_
_103,683_
_107,861_
**-**
**30**
**30**
_-_
_172_
_172_
**33**
**213**
**246**
_-_
_-_
_-_
**-**
**12,191**
**12,191**
_-_
_16,651_
_16,651_
**62**
**164**
**226**
_-_
_34_
_34_
**-**
**1,243**
**1,243**
_-_
_1,104_
_1,104_
**3**
**11,997**
**12,000**
_-_
_12,000_
_12,000_
**-**
**90**
**90**
_-_
_-_
_-_
**-**
**242**
**242**
_-_
_867_
_867_
**69**
**469**
**537**
_250_
_256_
_506_
**-**
**181**
**181**
_-_
_-_
_-_
**515**
**2,797**
**3,312**
_-_
_2,835_
_2,835_
**-**
**2,880**
**2,880**
_-_
_605_
_605_
**-**
**256**
**256**
_-_
_275_
_275_
**-**
**5,905**
**5,905**
_-_
_-_
_-_
**965**
**700**
**1,665**
_1,620_
_420_
_2,040_
**-**
**135**
**135**
_-_
_205_
_205_||
||**29,449**
**119,175**
**148,624**
_6,048_
_139,106_
_145,154_||
||**(28,449)**
**(20,262)**
**(48,711)**
_(6,048)_
_(53,333)_
_(59,381)_
**-**
**-**
**-**
_-_
_-_
_-_
40,335
67,420
107,755
_46,384_
_120,753_
_167,137_||
||**11,886**
**47,158**
**59,044**
_40,335_
_67,420_
_107,755_||
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 6
Page 8
## **SAFFRON YOUNG PEOPLES PROJECT LIMITED**
## **Balance Sheet**
## **As at 31 July 2023**
Company Number 4328703 (England & Wales)
|**CURRENT ASSETS**
Cash at bank
Cash in hand
Prepayments
**Current Liabilities**
Accruals
Other creditors
**FUNDS**
Restricted Funds
Unrestricted Funds|**£**
**£**
**59,644**
**258**
**2,469**
**62,371**
**2,540**
**787**
**3,327**
**59,044**
**47,158**
**11,886**
**59,044**
**2023**|_2022_|_2022_|
|---|---|---|---|
||**£**
**59,644**
**258**
**2,469**
**2,540**
**787**|_£_
_110,534_
_163_
_2,457_
_1,795_
_3,603_|_£_
_113,154_
_5,398_|
||||_107,755_|
||||_67,420_
_40,335_|
||||_107,755_|
For the financial year ending 31 July 2023 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 2023 in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
- a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006; and
- 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 8 to 13 were approved by the trustees on 2024 and signed on their behalf by
## Danny Myers
Danny Myers (Apr 19, 2024 10:57 GMT+1)
Danny T Myers Chairman
Page 9
## **SAFFRON YOUNG PEOPLES PROJECT LIMITED**
# **Notes to the Accounts For the year ended 31 July 2023**
## **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.
- Charitable activities include expenditure associated with the charity's objectives and include direct costs and support costs relating to these activities.
- 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.
Page 10
## **SAFFRON YOUNG PEOPLES PROJECT LIMITED**
# **Notes to the Accounts** (continued) **For the year ended 31 July 2023**
## **3 Staff Costs**
The average number of employees during the year was 3 (2022: 3) No employee received more than £60,000 in either year.
## **4 Net income/(expenditure) for the year**
|**Net income/(expenditure) for the year**
This is stated after charging:
Independent Examiners Fees|**2023**
**£**
**1,020**|_2022_
_£_
_1,020_|
|---|---|---|
## **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 2022 to enhance our girls' project, in the Saffron Lane Estate.
## 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. With permission from the Lottery additional spend has been charged here during the year to use up an underspend.
## Tudor Trust
The third instalment of a 3 year grant was received in the year. Funding has contributed towards the activities of Knife Crime Project.
## Sported Foundation
The £500 received from the Sported Foundation - Barclays Community Football Fund was used to fund coaching courses for young people in the area.
Page 11
## **SAFFRON YOUNG PEOPLES PROJECT LIMITED**
## **Notes to the Accounts** (continued) **For the year ended 31 July 2023**
## **6 Analysis of Net Assets between Funds**
|**Total Unrestricted**
**Restricted**
Children in Need
Big Lottery
Tudor Trust
Sported Foundation
**TOTAL FUNDS**|**At**
**1 August**
**2022**
40,335
13,218
54,218
(16)
-
67,420
107,755|**Incoming**
**Resources**
**£**
1,000
32,460
55,954
10,000
500
98,914
99,914|**Outgoing**
**Resources**
**£**
29,449
28,163
84,594
5,919
500
119,175
148,624|**Transfers**
**between**
**funds**
**£**
-
-
-
-
-
-
-|**At**
**31 July**
**2023**
**£**
**11,886**|
|---|---|---|---|---|---|
||||||**17,515**
**25,578**
**4,065**
**-**|
||||||**47,158**|
|||||||
||||||**59,044**|
Page 12