Company registration number: 05639458 Charity registration number: 1112691
## The Source Young People's Charity
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2022
The Source Young People's Charity
CoDtents
Referenct and Administrattv¢ Details
Strategic Re)rt
3to8
AeLIMmtants' Rert
StstemeDt of FitthncI Activiti¢s
Ioto 11
Balauce Sheet
12
Notes to the Firwicial Statements
13to21
## **The Source Young People's Charity**
## **Reference and Administrative Details**
**Chairman** Dr Jos Johnston Trustees : Dr Barry Bird Mr Tim Heys Mr John Cook (resigned 31 December 2021) Dr Jos Johnston Mr Roger Holder (appointed 7 April 2021) Mrs Susan Wiggam **Other Officers** Mr Jonathan Wiggam **Senior Management / Leadership** Mr Peter James Shears, Director **Team Charity Registration Number** 1112691 **Company Registration Number** 05639458 **Registered Office** 2nd Floor Imperial House 2 Grosvenor Road Aldershot Hampshire GU11 1DP **Accountants** M T D Accountancy Ltd 21 Silver Street Ottery St. Mary Devon EX11 1DB
Page 1
The Source Young People's Ch*rity
Strnttgic Report for the Yur Ended 31 Illarch 2022
The trus¢¢¢s. I10 are thrector5 for th¢ of rotY4)any law. prese1 their 5tra*gic rewrt for the ycar cDdcd
31 March 2021 in complianc¢ 1th s414C of the Companics .4ci 201)6.
Flnantlal revlew
The end of the year financial resu]ts include don2tton& grants and charitsble acoNiiies income amowiiing to
£87.247 {2021 £127,163). of thich £19,573 12021. £26.144I w&$ Icsmcicd InMe Actswbes for generating
income, Mbjch ¢onsLSts of JThcome from Bjkeswi and CO$¢]1jng servic¢4 anWited to £41.589 12021..
£41.0851. This resulied in totsl income for the year anKJwitin8 w £128.83612021. 1168.2481.
The iota] re50urce5 expcndcd wcrr kept wJd¢r ughi control and aMoled to £123.714 12021.. £1 $3.127). The
ovciall surplus of in¢om¢ over expendiiurc th¢refore £5.122 (2021 £15.1211. With the Vi[ the departure
of the Director grtd other uncerrwnues. 2021-22 dh'ificulL a year of TetrenclunenL bui M•w have a solid
base for the #ro takin¥ pl4G¢ in ail areas year.
Pl4ns for fufvr¢ riodS
AIMF knj, iibjecthw IrtlUrepenty&s
Th¢ need tor Counsellin and menrin coniinue5 10 ww. The wrll publicised ¢ha]len¢ of the paThdeinL¢ is d?¢
nwnb¢r of youn8 people su7811n8 wth their wrllbeinw menthi heth We are COnnin¢d
5upponing this need thro provith.nu further early interyertiion proyrammes. Mthich offer w¢Jlbeiny 5tralewes
lifestyle support. T.5 en¢ail$ develop1n an early help and preN'enlative Str41egy 1¢h provide soft touch
en¥en7¢nt in small wiups creaiive art. Music ¥nd phy%¢ a¢tivhty. enhancLn8 confidence and resilience
technique5 for the yo8 people We wll $0 reduce the age range for these parn¢ipants io I l years old We
11 contsnue to expand ow reach wthin the CO$ellIng and Meniorin8 proxr•rnmes. wjth * reCOlon
thai these are stt11 likely to he more SWiAble for 14 10 25 yews old yow¥ people
We are grateful number of new volwiteer bike mechanics w4)0 have enabled Bikestart i¢arn to wntinue
to develop its wvrk. IvIn¥ from three days a we¢k.
The strategic report Wds approved by the mstees of the charity on 22 November 2022 and signed on its behalf
Dr Jos John51on
Ch&im)w and trwstee
Pa¥¢ 2
## **The Source Young People's Charity**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2022.
## **Objectives and activities**
## _**Objects and aims**_
In our Memorandum and Articles of Association our objectives are:
The provision of facilities for recreational and other leisure-time occupation, including but not by way of limitation the provision of education and training in life skills in the interests of social welfare for persons who have need by reason of their youth, poverty or social and economic circumstances and with the object of improving their condition of life in Aldershot, Hampshire and in such other parts of the United Kingdom as the Trustees from time to time think fit.
Our mission is to serve the local community as an expression of our Christian faith, by providing personalised 1 to 1 youth counselling, mentoring and creative group activities to young people aged 14 to 25 years struggling with their mental health and wellbeing. Through increased resilience, confidence and self-esteem, our aim is for them to live healthy, hopeful and fulfilled lives. We celebrate diversity and our doors are open to everyone regardless of belief or background, as demonstrated by the wide range of local agencies who recommend our services to young people and families.
Our vision is that young people will transform their lives and through their transformation, their families and communities will be transformed.
## Our Values:
Expressing God's love - reflecting God's deep passion for the world Rooted in Prayer - encouraging positive expectancy in God's faithfulness Igniting Hope - releasing sparkling hope, joy and expectation for life Renewal - restoring and creating new life in all
Acceptance and Inclusion - celebrating all as made in God's image and respecting them whatever their background or belief
Empowering - not doing, but supporting each person ro realise their potential themselves.
## Our Focus:
We focus on supporting deprived and vulnerable young people who are struggling or finding things difficult. Outcomes we see young people achieve through their personalised programmes, include:
85% of participants completing their programme showed an increase in their self-esteem (Feltzer Institute-self reporting measures). Developing hope for their future, building their aspirations and gaining an understanding of their importance and value.
77% of participants completing their programme showed an increase in their resilience (Nicholson McBride resilience questionnaire) improving their decision making skills, learning skills to communicate more effectively with their friends and family, healthier lifestyles including taking up hobbies, good sleeping, exercise and eating routines, leading to reduced anxiety.
Page 3
## **The Source Young People's Charity**
## **Trustees' Report**
## _**Objectives, strategies and activities**_
Following 12 months of lockdowns and restrictions, we re-adjusted our work patterns and developed a new programme of support for local young people. These include the introduction of an online counselling service, enabling us to re-start one-to-one sessions, albeit in a different way. As restrictions gradually lessened, we were able to adopt a hybrid model which enabled both face to face counselling and online sessions, depending on the young person's preference. We also set up several outreach programmes supporting young people on local estates, including some of our local Army families. As 2022 progressed we have seen most young people preferring face to face sessions, but the option of online provision is still helpful for a few. Our mentoring support programmes also restarted using community facilities including local cafes and coffee shops.
Our social enterprise, BikeStart has provided amazing support for the Charity and the team of willing volunteers who work tirelessly in our workshops are a valued and valuable part of the organisation. As more people continue to take up cycling and want good, refurbished bicycles, we have seen the contributions continue and grow, and many are now bringing their bikes for further servicing and maintenance.
One feature of the pandemic and lockdowns is the increase in mental health challenges among young people. Our services are needed more then ever. Over the year we have taken the opportunity to develop partnerships with a variety of local organisations. Our discussions with local networks of social prescribers, CAMHS and NHS staff has led to an increase in referrals from statutory organisations, including GP's. We have developed stronger relationships with several local schools and have supported them through receiving counselling/mentoring referrals as well as providing a bespoke sports/mentoring programme during the summer. Work with the Army Welfare Community Support Team continued as we supported new recruits who were struggling with their mental health, as well as families who were suffering from prolonged periods of separation. Utilising the skills of an ex-international basketball player on our counselling and mentoring team, enabled us to develop trusted relationships and provide mentoring support.
Dr Ellie Jones stepped down as Director from April 2021 and we are most grateful for her 5 years of service leading the charity. As mentioned in last year's report, the new model, new opportunities and other changes, meant we needed to take time to consider afresh the structure and roles of our leadership before appointing a successor. We were most grateful to Alan Hilliar who stepped in as interim Service Delivery Manager. In November 2021 we were delighted to be able to appoint Peter Shears as our new Director.
Highlights for 2021-22:
1. We conducted 483 counselling/mentoring sessions, each adapted to work around lockdown and restrictions.
2. We supported and empowered 60 young people and their families.
3. A new structure enabled counselling to be held on line.
4. 77% and 85% increase in participants resilience and sefl-esteem respectively.
5. Work with the military, including families/young people in their community and support for young soldiers.
6. Continued support and delivery from BikeStart, our social enterprise bike project.
7. Volunteers continued to make a valuable contribution from professional training placements to bike mechanics and as local mentors.
Page 4
## **The Source Young People's Charity**
## **Trustees' Report**
Feedback is a vital part of our work, enabling us to evaluate and adjust our programmes as required. Feedback from young people this year included:
"I feel like I'm looking forward now and not down."
"I understand myself a bit better."
"I really appreciate all the support you've given me. It's had a positive effect through a difficult time. I look forward to and enjoy our sessions, and I know it makes a difference."
"It's nice to have someone to talk to that doesn't know me."
One parent commented: "She's a different person, thank you so much. Her mentor has been amazing."
Using a strong team of qualified volunteers is a key part of our work.
"I have only recently started volunteering with The Source, but already I feel at home with the team, and find them so supportive and friendly. I am loving the privilege of supporting a young person."
"The Source provides an environment that is welcoming for the counsellors and the clients alike. The staff are lovely too."
"I personally feel very lucky to be part of a larger supportive local organisation, to try and help others when they need it most."
## _**Fundraising disclosures**_
Your generosity means so much to us and the young people we support and empower. Thank you to everyone who has supported our work by making an individual donation or giving your time. Your contribution is important and valued and we appreciate your partnership with us.
Organisational Donors for 2021-2022:
Thank you to the local churches, businesses and societies who have donated funds and in-kind support in 2021-2022, and to organisations which have helped us through the pandemic. These include:
Broadhurst Trust, Lloyds Bank Foundation, National Emergency Trust Fund, The Girdlers Company, Emma Campbell Trust, Hampshire County Council, Leathersellers Co, Edgeborough School, NHS Charities Partnership, Blythswood Care, St Peters Church - Farnborough, Park Evangelical Church - Aldershot, Holy Trinity Church - Aldershot, Parish of Cove, Mytchett Ministries, Aldershot Youth Swimming Club, Sustainability Fair, Giving Force, Natwest Bank, Muller Milk, Rushmoor Community Lottery.
Thank you also to everyone who has supported BikeStart through donating an old bike, purchasing a bike, booking bike maintenance training or getting your bike repaired/serviced. The funds raised by this amazing enterprise provide further valuable contributions to the lives of vulnerable young people.
## _**Public benefit**_
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 5
## **The Source Young People's Charity**
## **Trustees' Report**
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Dr Barry Bird Mr Tim Heys Mr John Cook (resigned 31 December 2021) Dr Jos Johnston Mr Roger Holder (appointed 7 April 2021) Mrs Susan Wiggam Chairman: Dr Jos Johnston Other Officers: Mr Jonathan Wiggam Senior Management / Leadership Mr Peter James Shears, Director (appointed 16 November 2021) Team:
## **Structure, governance and management**
## _**Nature of governing document**_
The governing document of The Source Young People's Charity is the Memorandum and Articles of Association dated 29th November 2005 which was amended in January 2011.
## _**Recruitment and appointment of trustees**_
The Source Young People's Charity is an independent charity and is not affiliated to any other organisation.
The members of The Source Young People's Charity are the Trustees and the legal minimum number of Trustees is three. The Board of Trustees may by ordinary resolution appoint a person who is willing to act to be a trustee. New Trustees are recruited through local publicity (e.g. through the website, volunteering sites and newsletters.) Applicants undergo a comprehensive recruitment procedure which focuses on the skills, knowledge and experience of the applicant and the needs of the Charity. The induction of new Trustees may include shadowing with staff and volunteers, site visits, mentoring from a Trustee and formal in-house training as part of their ongoing development.
Board meetings are held at least quarterly (although usually more frequently.) At board meetings governance, strategic plans, operational plans, policies, risk assessments, budgets etc are reviewed and decisions made.
Page 6
## **The Source Young People's Charity**
## **Trustees' Report**
## _**Organisational structure**_
## Management
During the year 2021/22 the Senior Manager, Dr Eleanor Jones, who was Director and Company Secretary, resigned with effect from 10th April 2021. She was replaced on an interim basis by Alan Hilliar as interim Service Delivery Manager, until a new Director, Peter Shears, was appointed from 16th November 2021. The Director is responsible for implementing the decisions made at Board meetings, reporting back to the Board and ensuring The Source's work is fully resourced and carried out to the highest standards. The Director receives regular supervision from the Chair.
## Chaplain's role
Here at the Source Young People's Charity, we place importance on the physical, emotional and spiritual well-being of the staff. This is supported by providing the core team and other staff, team members and volunteers, with a Chaplain to the Charity. The Chaplain meets with the core team once a week for Christian prayers and as a means to encourage the team in their vital ministry to young people.
The Chaplain is also in attendance when the Trustees meet.
## **Statement of trustees' responsibilities**
The trustees (who are also the directors of The Source Young People's Charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 7
The Source Young Peopl¢'5 Charity
TTUSttts' Report
The annu81 report wa5 approvd by th¢ tr41ee5 of the thwity on 22 Nov#nb¢f 2022 signed on its behalf by..
J,fj
Dr Jos JohnstDn
Chalrnian and tTUStee
Page 8
The Source Young People'5 Charity
Independent Examiners Report to the Trustees
For the Year ended 31 March 2022
We report to the trustees on our examinatlon of the accounts of the charitable wmpany for the year ended 31" March 2022.
Responslbllities and ba51s of report
As the charlty Trstee$, who a also directors for the purpose5 of the company law, are Te5ponsible for the preparation of the
accounts in accordancè with the requirements of the CornpanÉe5 Act 20061'the 2006 Act'l
Having satlsfied ourselve5 that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and
are eligible for independent examinatlon. We report in respect of our examination of the charity's accounts carried out under
section 145 of the Charitie5 Act 20111'the 2011 Act'l. In carrying out our examination we have followed the directions given by
the Charity Commi55ion under section 14515llbl of the 2011 Act.
Independent èxamlners statement
WÈ have completed our examination. We confirm that no matter5 have come to our attention in connection with the
examinatlon giving u5 cause to believe that in any material respect..
accountin8 records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
the accounts do not accord with these record5,' or
the accounts do not comply with the requirernents of settion 396 of the 2006 Act other than any requirement that the
accounts give a 'true and fair view, whlch is ntst a matter considered a5 part of an independent examination,. or
the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practlte for accounting and reporting by charities applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of IrelandlFRS 1021.
We have no concerns and have come across no other matter5 in connection with the examination to which attention should be
drawn in this report in order to enable a proper understanding of the accounts to be reached.
MTD Accountancy Ltd
21 Silver Street
Ottery St Mary
Devon EXII IDB
Date...
## **The Source Young People's Charity**
## **Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
**Expenditure on:**
Raising funds
6
Charitable activities
7
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
15
**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
**Expenditure on:**
Raising funds
6
Charitable activities
7
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
15|**Unrestricted**
**funds**
**£**
67,674
41,536
53
109,263
(216)
(79,577)
(79,793)
29,470
(24,348)
5,122
53,021
58,143
**Unrestricted**
**funds**
**£**
101,019
41,034
51
142,104
(276)
(94,630)
(94,906)
47,198
(32,077)
15,121
37,900
53,021|**Restricted**
**funds**
**£**
19,573
-
-
19,573
-
(43,921)
(43,921)
(24,348)
24,348
-
-
-
**Restricted**
**funds**
**£**
26,144
-
-
26,144
-
(58,221)
(58,221)
(32,077)
32,077
-
-
-|**Total**
**2022**
**£**
87,247
41,536
53|
|---|---|---|---|
||||128,836|
||||(216)
(123,498)|
||||(123,714)|
||||5,122
-|
||||5,122
53,021|
||||58,143|
||||**Total**
**2021**
**£**
127,163
41,034
51|
||||168,248|
||||(276)
(152,851)|
||||(153,127)|
||||15,121
-|
||||15,121
37,900|
||||53,021|
The notes on pages 13 to 21 form an integral part of these financial statements. Page 10
## **The Source Young People's Charity**
## **Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 13 to 21 form an integral part of these financial statements. Page 11
The Source YouDg People'$ Charity
(Registration number OS639458)
Balance Sheet As at 31 March 2022
2022
2021
Nots
Flxed a&ryets
Tangible assets
Current *ssetJ
Stocks
Debtors
Cash at bank and in hand
io
1,172
226
I,ioi
80208
210
21,010
58,680
12
13
81,535
79.9(K)
Creditors: f*lliDg due wlthiD one year
Net eurr¢DI *&¥ets
14
125.358)
(28.051
56.177
31,849
Net ats
58.143
53,021
Funds of ¢be ehArlty:
Unrcstrlet income
Unrestriet¢d funds
58.143
53,021
Totsl fuDd$
15
58,143
53,021
For the financial year ending 31 Mar¢h 2022 the charity w&$ ¢Itied to exemptioll from audit urMl¢r section 477
of the Companies Act 2006 rel*ing lo small comF4nies.
The members have not required the tsAty to obtaill an audit of its Counts for thc year in question in
aecordance with srftion 476" and
The dirtttors acknowledge their reSnsIbl111jeS for complyin8 wlth the reqUignts of the Act with re5P¢¢t
to aoUntIng records and the preparntion of accounts.
The fmallciaj ststem¢nts on pages 10 to 21 were appmv*l by the tnLW aDd authorised for issue OD 22
November 2022 and signed oll theirbehalf by.
Dr Jos Ji)hnston
The notes on pages 13 to 21 forni an integral part of Ihts¢ financial statsments.
Pasc 12
## **The Source Young People's Charity**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **1 Charity status**
The charity is limited by guarantee, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 2nd Floor Imperial House 2 Grosvenor Road Aldershot Hampshire GU11 1DP
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
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 (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
The Source Young People's Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Income and endowments**
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.
Page 13
## **The Source Young People's Charity**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Deferred income**_
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Page 14
## **The Source Young People's Charity**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **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.
## **Tangible fixed assets**
Individual fixed assets costing £50.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
## **Asset class**
Plant & Machinery
**Depreciation method and rate** 25% straight line on additions
## **Stock**
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 15
## **The Source Young People's Charity**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **3 Income from donations and legacies**
|Donations and legacies;
Donations
Gift aid reclaimed
Grants, including capital grants;
Grants from other charities
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
25,455
3,119
39,100
67,674
101,019|**Restricted**
**funds**
**£**
4,553
-
15,020
19,573
26,144|**Total**
**funds**
**£**
30,008
3,119
54,120|
|---|---|---|---|
||||87,247|
||||127,163|
## **4 Income from charitable activities**
|Bike Start income
**Total for 2022**
**Total for 2021**
**5**
**Income from other trading activities**
Events income;
Other events income
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
41,536
41,536
41,034
**Unrestricted**
**funds**
**General**
**£**
53
53
51|**Total**
**funds**
**£**
41,536|
|---|---|---|
|||41,536|
|||41,034|
|||**Total**
**funds**
**£**
53|
|||53|
|||51|
Page 16
## **The Source Young People's Charity**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **6 Expenditure on raising funds**
## **) Costs of trading activities**
|Other direct costs of activities for generating funds
**Total for 2022**
**7**
**Expenditure on charitable activities**
**Note**
Staff costs
Allocated support costs
Governance costs
**Total for 2022**
**Total for 2021**|**Note**
**Unrestricted**
**funds**
**General**
**£**
22,057
54,302
3,218
79,577
94,630|**Unrestricted**
**funds**
**General**
**£**
216
216
**Restricted**
**funds**
**£**
41,243
2,678
-
43,921
58,221|**Total**
**funds**
**£**
216|
|---|---|---|---|
||||216|
||||**Total**
**funds**
**£**
63,300
56,980
3,218|
||||123,498|
||||152,851|
## **Analysis of governance and support costs**
## **Governance costs**
|Other governance costs
Allocated support costs
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
1,071
2,147
3,218
2,467|**Restricted**
**funds**
**£**
-
-
-
240|**Total**
**funds**
**£**
1,071
2,147|
|---|---|---|---|
||||3,218|
||||2,707|
Page 17
## **The Source Young People's Charity**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **8 Staff costs**
The aggregate payroll costs were as follows:
|The aggregate payroll costs were as follows:|||
|---|---|---|
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs
Other staff costs|**2022**
**£**
60,248
111
772
2,169
63,300|**2021**
**£**
88,074
1,461
749
1,899|
|||92,183|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
|Average number of employees|**2022**
**No**
4|**2021**
**No**
4|
|---|---|---|
No employee received emoluments of more than £60,000 during the year.
Page 18
## **The Source Young People's Charity**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **9 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **10 Tangible fixed assets**
|**Cost**
At 1 April 2021
Additions
At 31 March 2022
**Depreciation**
At 1 April 2021
Charge for the year
At 31 March 2022
**Net book value**
At 31 March 2022
At 31 March 2021
**11 Stock**
Stocks
**12 Debtors**
Trade debtors
Other debtors
**13 Cash and cash equivalents**
Cash at bank||**Furniture and**
**equipment**
**£**
27,876
1,060
28,936
26,705
265
26,970
1,966
1,171
**2022**
**£**
226
**2022**
**£**
500
601
1,101
**2022**
**£**
80,208|**Furniture and**
**equipment**
**£**
27,876
1,060
28,936
26,705
265
26,970
1,966
1,171
**2022**
**£**
226
**2022**
**£**
500
601
1,101
**2022**
**£**
80,208|**Total**
**£**
27,876
1,060
28,936
26,705
265
26,970
1,966
1,171
**2021**
**£**
210|
|---|---|---|---|---|
|||28,936|||
|||26,705
265|||
|||26,970|||
|||1,966|||
|||1,171|||
|||**2022**
**£**
226
**2022**
**£**
500
601
1,101
**2022**
**£**
80,208|||
|||||**2021**
**£**
-
21,010|
|||||21,010|
|||||**2021**
**£**
58,680|
Page 19
## **The Source Young People's Charity**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **14 Creditors: amounts falling due within one year**
|Trade creditors
Other creditors
Accruals
Deferred income|**2022**
**£**
55
1,020
2,060
22,223
25,358|**2021**
**£**
-
-
3,562
24,489|
|---|---|---|
|||28,051|
## **15 Funds**
|**Unrestricted funds**
General
**Restricted funds**
**Total funds**
**Unrestricted funds**
General
**Restricted funds**
**Total funds**|**Balance at 1**
**April 2021**
**£**
53,021
-
53,021
**Balance at 1**
**April 2020**
**£**
37,900
-
37,900|**Incoming**
**resources**
**£**
109,263
19,573
128,836
**Incoming**
**resources**
**£**
142,104
26,144
168,248|**Resources**
**expended**
**£**
(79,793)
(43,921)
(123,714)
**Resources**
**expended**
**£**
(94,906)
(58,221)
(153,127)|**Transfers**
**£**
(24,348)
24,348
-
**Transfers**
**£**
(32,077)
32,077
-|**Balance at**
**31 March**
**2022**
**£**
58,143
-|
|---|---|---|---|---|---|
||||||58,143|
||||||**Balance at**
**31 March**
**2021**
**£**
53,021
-|
||||||53,021|
## **16 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
1,966
81,535
(25,358)
58,143|**Total funds at**
**31 March**
**2022**
**£**
1,966
81,535
(25,358)|
|---|---|---|
|||58,143|
Page 20
## **The Source Young People's Charity**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
1,172
79,900
(28,051)
53,021|**Total funds at**
**31 March**
**2021**
**£**
1,172
79,900
(28,051)|
|---|---|---|
|||53,021|
Page 21
## **The Source Young People's Charity**
## **Statement of Financial Activities by fund for the Year Ended 31 March 2022**
## **Unrestricted Funds**
|**Income and Endowments from:**
Donations and legacies
Charitable activities
Other trading activities
Total income
**Expenditure on:**
Raising funds
Charitable activities
Total expenditure
Net income
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Total**
**Unrestricted**
**Funds**
**2022**
**£**
67,674
41,536
53
109,263
(216)
(79,577)
(79,793)
29,470
(24,348)
5,122
53,021
58,143|**Total**
**Unrestricted**
**Funds**
**2021**
**£**
101,019
41,034
51|
|---|---|---|
|||142,104|
|||(276)
(94,630)|
|||(94,906)|
|||47,198
(32,077)|
|||15,121
37,900|
|||53,021|
This page does not form part of the statutory financial statements. Page 22
## **The Source Young People's Charity**
## **Statement of Financial Activities by fund for the Year Ended 31 March 2022**
## **Restricted Funds**
|**Restricted Funds**|||
|---|---|---|
|**Income and Endowments from:**
Donations and legacies
Total income
**Expenditure on:**
Charitable activities
Total expenditure
Net expenditure
Transfers between funds
**Reconciliation of funds**
Total funds carried forward|**Total**
**Restricted**
**Funds**
**2022**
**£**
19,573
19,573
(43,921)
(43,921)
(24,348)
24,348
-|**Total**
**Restricted**
**Funds**
**2021**
**£**
26,144|
|||26,144|
|||(58,221)|
|||(58,221)|
|||(32,077)
32,077|
|||-|
This page does not form part of the statutory financial statements. Page 23
## **The Source Young People's Charity**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2022**
|**Income and Endowments from:**
Donations and legacies (analysed below)
Charitable activities (analysed below)
Other trading activities (analysed below)
Total income
**Expenditure on:**
Raising funds (analysed below)
Charitable activities (analysed below)
Total expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Total**
**2022**
**£**
87,247
41,536
53
128,836
(216)
(123,498)
(123,714)
5,122
5,122
53,021
58,143|**Total**
**2021**
**£**
127,163
41,034
51|
|---|---|---|
|||168,248|
|||(276)
(152,851)|
|||(153,127)|
|||15,121|
|||15,121
37,900|
|||53,021|
This page does not form part of the statutory financial statements. Page 24
## **The Source Young People's Charity**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2022**
|**_Donations and legacies_**
Appeals and donations
Appeals and donations
Gift Aid tax reclaimed
Grants - other agencies
Grants - other agencies
**_Charitable activities_**
Bike Start sales
**_Other trading activities_**
Fund raising events
**_Raising funds_**
Commissions payable
Commissions payable
**_Charitable activities_**
Bike start mechanic
Wages and salaries
Wages and salaries
Staff NIC (Employers)
Staff NIC (Employers)
Staff pensions (Other) - pension scheme 1
Staff pensions (Other) - pension scheme 1
Staff welfare
Volunteer expenses
Depreciation of plant and machinery
Staff training
Staff training
Travelling
Travelling
Recruitment
Rent and rates
Utilities
Utilities
Repairs and maintenance|**Total**
**2022**
**£**
4,553
25,455
3,119
15,020
39,100
87,247
41,536
41,536
53
53
-
(216)
(216)
(14,812)
(38,736)
(21,512)
(111)
-
(451)
(321)
(1,945)
(224)
(265)
(2,189)
(578)
(489)
(1,796)
(2,220)
(13,500)
-
(3,257)
-|**Total**
**2021**
**£**
180
20,753
-
25,964
80,266|
|---|---|---|
|||127,163|
|||41,034|
|||41,034|
|||51|
|||51|
|||(276)
-|
|||(276)|
|||(10,447)
(50,651)
(37,423)
-
(1,461)
-
(749)
(1,899)
-
(246)
-
(920)
(299)
(1,660)
-
(15,086)
(1,324)
(3,613)
(539)|
This page does not form part of the statutory financial statements. Page 25
## **The Source Young People's Charity**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2022**
|Repairs and maintenance
Computer software and maintenance costs
Printing, postage and stationery
Printing, postage and stationery
Sundry expenses
Cost of trustee meetings
Advertising
Bank charges
Accountancy fees
Legal and professional fees
Legal and professional fees|**Total**
**2022**
**£**
(1,017)
(13,117)
-
(2,698)
(30)
(70)
(942)
(1,071)
(2,060)
-
(87)
(123,498)|**Total**
**2021**
**£**
(6,943)
(10,532)
(3,269)
(2,606)
(470)
(7)
-
(421)
(2,006)
(240)
(40)|
|---|---|---|
|||(152,851)|
This page does not form part of the statutory financial statements. Page 26