LORNA YOUNG FOUNDATION . LOUDER THAN WORDS The Lorna Young Foundation Accounts 2023-24 FARMERS VOICE RADIO The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006. pr¢sent their report with the financial statements of the cliarity for the year ended 30 Jime 2024. The f inancial statements have been prepared in accordance with the Statement of Recommended Practice ISORP) 'A¢counting and Reporting by Charities, issued in March 2015, applicable in law and the Charkty's goveriiing documents. Charity No: 1112895 Company No: 4788426
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 CONTENTS Page Report of the Trustees Independent Examiner's Report 16 Statement of Financial Aclivilies 18 Balance Sheet 23 Notes forming part of the financial statements
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Chair's Foreword This has been another challengin& but rewarding, year for the L,YF. Our flagship international programme, Farmers, Voice Radio continues to deliver truly transforniational results within smallholder fanning communities, and ihe continued success of OUT Academy programme, demonstrates how a more Jight-touch, online support programme can deliver amazing outcomes for communities. Our Not Just Us programme has continued its transition to a user-led, open access resource and the team have created a unique and ground-breaking Toolkit of practical resources, guides and signposting, freely available to community groups to support them in selting up and running successful community enterprises. As witli most small charities, we face the pe¢tUal challenge of rdising sufficient funds to maintain our work. We make every effort to minimise overheads and ensure that our resources are focussed on delivering impact in communities in the UK and internationally. We do not pay for an oftice or utilities. Our Board meetings are held online, and our finaii¢¢s are managed by our wonderful Finance Administrator, Alison O, Neill, who provides invaluabl¢ professional accounting and payroll services to us on a volunt¢¢r basis. Thank you, Alison. I would like to praise our small, talented, dedicated team who work tirelessly to achieve great things with limited resources. Our Board of Tru.stees are committed and loyal and support our team wilh mucli more than good governance. We are confident that thL Lorna Young Foiindation L'ontiiiues to carry on the ethos, values, aiid drive of our nainesake, and we hope that readers of this report will seriously consider how tliey can contribute to our out8landing work and initiatives, Get in touch, we wc)uld love to hear from you, Lastly, a huge thankyou to Emma Austin of Smith Austin Ltd, Chartered Accountants, for undertaking the inspection of our annual accounts pro bono, We very much value your support and generosity. Ian Agnew (Chair)
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Report of the Trustees The Trustees of Lorna Young Foundation (L YF) have pleasure in presenting their financial statements for the year ended 30 June 2024. Principal activity The company's principal activity is to act as a charity. OUR AIMS LYF'S Vision The Lorna Young Foundation's vision is to bring about change iii the attitudes and systems that prevent communities across the globe from working together to improve thcir lives. LYF'S Mission The Lonia Young Foundation (LYF) is a charity that works to ¢onn¢ct communities to trad¢ knowledge, products and ideas that will make their lives better. It do¢s this by devising and running unique programmes that bring together the many disconnected worlds that make up our socicti¢s - botli in the UK and across the world. We have a rich history, taking oiir name from fair trade pioneer Lorna Young who broke down doors to get the UK'.$ first fair trade coffec iiito supennarkets. Our work is based on a deep iinderstanding of internatioiial trade jiistiC¢ issues, We have a long history of solving supply chain challenges, and access to networks that Lan delivL'r expertise and funding. Our flagship programmes are: Farmer Voice Radio (FVR) - which engages small farmers and farmer orgaiiisations in th¢ developing world in the production of local radio programines tliat broadcast vitydl famiing information, equipping marginalised farnier communities with the knowledge, support and opportunities needed by their collective cominunities and their independent livelihoods. fvR help.s to improve ag7ricultural production, manage land Tnore suslainably and facilitate acccss to markets. lil turn, this supports the long-term viability and sustainability of remote rural communities. Not Just Us (NJU) - which offers young people, disadvantaged people and their coininunities in some of the UK'S most deprived areas an opportunity to create their own ethical and social enterprise, learning directly from thc LYF, our nelworks aiid our educational resources.
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 FARMERS, VOICE RADIO Farmers, Voice Radio (FVR) engages small farniers and farnier oi'ganisations in the dcveloping world in the production of local radio prografftmes that broadcast vital fanning infonnation across rural areas. FVR helps to improve agriciiltural production, manage land more sustainably and facilitate access to markets. 2022-2023 was another busy year for Farniers, Voice Radio (FVR) as we completed the first FVR Academy Iraining programme with the first cohort of participants and launched a second FVR Academy programme in 2023. FVR projects continued implementation in Ghana and Kenya and new FVR projects were started in Malawi and South Africa. There was a lot of project development work, which has sincc resulted in a new FVR project in Nigeria and an extension of the Kenya tea project. During this period the FVR team also prioritised building liiiks with tlie coffee ]d ethical trading sector, which included being the charity partiier at Manchester and Biriniiigham Coffee festivals. A hiige thaiik you to our international partners, geiierous donors and the many other chainpions of Farmers, Voice Radio, who have worked wilh us over thig last year lo work towards transform ing the lives of mill ions ot. farni¢rs and riiral ¢ommunities through the power of radio. PROJECT DELIVERY- PARTNERING WITHLOCALANDINTERNA TJONAL ORGANISA TIONS TO CO-DE,SIGN AND JMPLEMENT FVR PROGRAMMES THA T ADDRESS FARMERS, SPECIFIC CHALLENGES. GHANA: FVR for Shea Nut Collectors and Butter Processors in Northern c.hana Timeframe.. 0712021-0612023 LoLation: Tamalc, northern Ghana Partners: Tungteiya Wom¢n's Association, Solidaridad, Thc Body Shop, Cargill Zor and Global Shea Alliance Radio station: Zaa FM and Simli Radio Funders: Fund for Responsible Busiiiess (FVO), as part of tlie Netlierlands Enterprise Ageiicy (RVO), 'I'he Body Sliop International and Cargill Zor. This FVR project was developed followingi a suLcessful pilot project fuiided by The Body Shop (TBS). TBS brought t()gyether a consortium of partners to develop a 3-year project to ilie Dutcli Government FVO fund. This project aims to increasc incomes and improve livelihoods among shea producing communities in tlie Northern Region, leading to a stronger and more resilient shea supply chain. Women shea butter producers in Gliana are under huge pressure, and the global supply of shea butter is at risk. Climate change and unsustainable agricultural and land management practices are affectiiig yields and quality. A recent ITC report identified gender inequality, inadequate health provision and enviroiimental threats to ihe shea parkland as kcy risks to the shea supply chain. Poor infrastructure, low education levels and gender dynamics hinder access to essential inforn]ation, particularly for woinen. FVR are working in collaboration with Solidaridad, The Body Shop Interiiational, Cargill Zor, Tungteiya Women's Association and the Global Shea Alliance to achieve the followiiig planned outcomes". l. Improved quality and safety of shea butter production of l 0,000 women by 2024 2. Improved business skills and collective marketing from l 0,000 women in the target l O communities by year 2024 3. Increased number of women undertake alternative income generating activities (minimum 800).
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 4. Improved understandiiig of sustainable parkland managemeiit around 10 target Associations and action plan to secure the ongoing improvement in the management of Shea. 5. Improved sustainable due diligence process within the shea supply chain. This will be achieved tlirough FVR programmes produced by Programme Reference Groups made up of shea nut collectors in two communities, facilitated by Solidaridad and Tungteiya. These radio programmes will be broadcast twice weekly on 2 radio stations (Zaa FM and Simli Radio) in Dagbani language. The radio programmes address the key issues affecting shea workers and will broadcast shea price updates. Technical inputs are provided by the Global Shea Alliance and other partners and stakeholders in the project. N'Kalo is providing the shea market infomiation updates for the radio programmes and training. Communal Listening Sessions liave been set up in 10 target communities to ensure women have access to the radio programines. Listeners also have an opportunity to provide their f¢edback and ask questions througli an Iiiteractive Voice Respoiise (IVR) LIStener1¢¢dbaCk System (developed by the UK tecli company Cl imate Ed&ye). Th¢ radio programmes are beiiig broadcast alongside face-to-face training on arcas related to gcnder smart business skills, collective marketiiig, health and safety, cliinate smart agriculture, income diversification for up to 5720 women. Income divcrsification Iraining will include the establisliment of l O food and technology demonstration plots for women on the bordcrs of farms. lii addition, the project includes Community advocacy related to shea parkland managemcnt. The FVR team has partnered with TBS to present at the Global Shea Alliance Conference and TBS won a Sedex Award for their role in setting up and champioiiing this FVR project. KENYA: Farn)ers' Voice Radio for Women Tea Smydllholders &nd Workers in Nandi Hills Timeframe: 0412022 to 0912023 Locatlon: Nandi Hills, Kenya Partners: Sireet OEP (Outgrowers Empowemi¢nt and ProduLer Company), the National Organisatioi) of Peer Educator8 (NOPE) and Twinin Radio programme and station: "Tugetab Kabotik ab Sireet OEP" ("The sound of farniers from Sireet OEP ) on Ka8sFM91.I Funder and Partner.. Twinings This Fanners, Voice Radio projcct aims to empower women tea smallholders aiid work¢rs in Naiidi Hills to improve their families, health and wellbeing and to achieve more secure livelihoods. Sireet OEP has 12.000 smallholder tea farmer members, of whoin aroiind 30% arc women. Sireet OEP own and manage (with tl)e support of Eastern Pr(Kluce Kenya) Sircet tea estate and factory in Nandi County in Kenya, where Twiiiings sources some of its tea and was already implementing a health project as part of its Sourced With Care programme. The FVR project has the following objectives: l. Health To increase access to community and personal health information and services for women and families, in particular reproductive health and nutrition. To improve woin¢ii's knowledge, attitudes and practices around reproductive health and nutrition. 2. Gender justice To raise awareness of the benefits of gender equality amongst women and men. To challeng¢ gender imbalances in household decision-making and reduce gender-based violence.
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 3. Secure livelihoods To increase knowledge and adoption of appropriate alternative income geiieratiiig activities that will reduce families, dependence on tea. To increase women's control over household income. These objectives are being achicved through a 12-moiith Farmers, Voice Radio programme series, 'Tugetab Kabotik ab Sireet OEP, ('The of Fariners from Sireet OEP,), is broadcast twice weekly in the Kalenjin language on local radio Kass FM 91.1. The programm¢ the 12,000 membcrs of Sireet and tlieir households, as well as farmers and workers iiivolved in Twiiiiiigys tea supply chain iii Hills. The radio prograinme is being geiierated by Progtrrainm¢ Reference Group (PRG), made up of12 farn]ers (two from each of the six Sirect OEP zones), who meet monthly to discuss the selected topics, Relevant and credible local resource people with expertise on the discussion topics are invited to the PRG meetiiigs andlor interviewed separately by the radio preseiiters to supplement information provided by the PRG meinb¢rs where necessary, and to answer listener questions. Souiid which ststion, targets OEP otlier th¢ Nandi content Esther, one of tlie farmers selected feature in thc prograjnme. said: hould.shurL) our ()ffarmip7X"_ Ihe way youfarm 13 not ihe wuy Ifarm, .fo we cun exchange idea,$. By the lime ihe beans grow, we 3hall goforward. And we shallfind thal iadio i.s ihe easiesl way of cc)mn7unicalion.' you can have the knowledge where you are,. you d(Jn'l need transporl or money to get knowledge." to 'The Sound of Farmers from Slmt OEP, Programme Reference Group member8. Credlt: NOPE MALAWI: Farmers, Voice Radio for Sustainable Tea Livelihoods in Malawi Timeframe: 0912022 to 0912023 Location: Mulanje and Thyolo Districts, Malawi Partners: Sukambizi Association Trust <ind lh¢ Ethical Tea Partnership Radio programme and station: "Tea Talk" on Malawi Broadcasting Corporation Radio I Funder: Guernsey Overseas Aid and Development Commission and tlie Ethical Tea Partnership This Farn]er5' Voice Radio project aims to improve knowledge, attitudes and practices relating to sustainable and quality tea production of smallholder tca farmers in Mulanje and Thyolo. Sukambizi Association Trust (SAT), the Ethical Tea Partnership (ETP) and local radio stations are working together to produce and broadcast participatory radio programmes that raise farmers voices-particularly those of women-and enable them to share and access the infonnation they need to glow their incomes. increase tlieir resilience to climate change and have eater control over tlicir livelihoods. Specifically, the Farn)ers' Voice Radio programmes will target tlie following objectives:
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Objective I: Improve farn]ers' tea production and land management practices to increase quality and yields and therefore the tea income they eani. Objective 2: Support resilience to climate chaiige by raising awareness of deforestation, promoting climate friendly farn]ing practices and encouraging diversification. Objective 3: Challenge gender nomis and empower women to take leadership roles whilst promoting economic resilicncc. Objective 4: Iinprove farniers, knowledge of the tea market and strengthen their voice and influence witliiii the Malawi tea sector This will be achieved through a Farniers, Voice Radio programme series, aired on a Chichewa language station, that is targeting the 12,771 members of SAT and their households, as well as other small scale tea farniers and workers in the region. The series is using the local seasonal calendar as a framework around which to plan programme content, with individual episodes focused on a range of relevaiit topics, broadcast at tlie inost appropriate time of year. The radio programme content is generatcd by a Programme Referenc¢ Group (PRG), made up of12 smallholder tea fanners, the majority of whom are women, who meet monthly in a central location to discuss the pre-agreed topics. Tliese discussions are recorded, edited into short programm¢s and broadcast, twice weekly, by tlie radio station partiier. Relevant and crediblc local resource people with ¢xp¢rtise oli tlie discussion topics are invited to the PRG meetings and/or interviewed separately by the radio presenters to supplement and challeiige informalion provided by the PRCJ Inembers where necessary, and to answer listener questions. Tliey also feed into the development of technical iiifomiation sh¢¢ts pr¢pared for each topic, whicli radio presenters will use to guide tl)e discussions. Communal Listening Se8sions run by 28 Radio Champions (also selected SAT farnier membership) have been set up in certain communities, to enable those without <1 radio set at home to listen and engage in the radio programme content. Annie, one of eight women famers selected to feature in the radio programmes, said.. 'Farmers are not making a profit because...they don't take care of the fields properly. Input costs are also high and tea prices are low. [At the Inonientl inforniatioii [about tea fanning] is passed from agricultural extension workers to block leaders, who tlien pass it on to farniers. But there are too many famiers to one block. Resourccs are little and they are very stressed. [The radio programmes] will help a lot to be able to disseininate the infonnation far and wide. It's also really important [that fanners can] ask questions and get feedback. none of the other radio programmes do tliis." il'41¥¥ 1-. Women farniers make up 70 % of SAT'S membership but they are underrepresented in leadership. Annie continued, '[In the training workshop] we have been discussing things such as leadership and why women are not taking those positions in thc tea industy. We are mostly women, but th¢ positions ar¢ Ii¢ld by m¢n.' Annie and her pecrs hope that Iiaving their voiccs on the radio will help to shift tliis baRance. Annie. tea farmor from Malawl. Photo credit: Lucy Kane
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 SOUTH AFRICA: Farmers, Voice Radio for SustainAble Smallholder Agribusiness in Limpopo Timeframe: 0612023 to 0612024 Location: Limpopo Province, Soutli Africa Partners: Agricre (Pty) Ltd, Rainforest Alliancc and Phalaphala FM Radio programme and station., 'Dzomo La Vhaliini, or 'Fanners' Voice, on Phalaphala FM Funder and Partner: Rainforest Alliance This Farmers, Voice Radio programmes aim to improve the knowledge, attitiideg and practices of emerging smallholder famiers in Limpopo, relating to the production and marketing of subtropical crops. Rainforesl Alliance works with certified farniers in the region, who produce avocados, macadainia, coff¢¢ <ind other crops. Following successful Famiers, Voice Radio projects iii Uganda and Eihiopia, Rainforest Alliance partnered agyain with LYF and local agricultural consulting, extension and training company Agricre (Pty) Ltdto implement this project. pecifically, the Farmers, Voice Radio programme, named 'Dzomo La Vhalimi, in local language Venda, aims to achieve the t"ollowing objectives: Objective I: Develop the technical skills of farmers in the production, processing and marketing of subtropical products (with a particular focus on avocado, banana and macadamia). Objective 2: Iinprove farmers, finaiicial literacy, sources of finance and ability to meet application ¢ril'¢ria. Objective 3: Encourage farniers, cooperatioii to engage and forin partnersliips with governmeiit, private Sector and other .qtakeholders, The programme features the voices of12 emerging smallholder farniers of crop8 such as avocado, macadamia, banana, mango and lychee, who meet monthly with Dr Thiothi Miithikhitha of Agri¢re (Pty) Ltd and other relevant expert.8 to record discussions on four different topics. These recordings are Ldited by Phalaphala FM into 25-minute episodes and broadcast weekly on Friday mornings at 4,30am a prime listening time when farmers are at home preparing for a day in ili¢ fields. There is also a special episode on tlie lasi Wediiesday of ¢aLh moiith dedicated to answering listener questions froin the previoiis four weeks. A YouTube channel wil I allow followers to listen again to any episode, as well as to view photo and video footage relevant to the discussions. Nevondo Lutendois a smallholder farmer growing lychees aiid avocados. She is a incmber of the 12-stroiig Programme Referencc Group who meet monthly to record content for the Dzoino La Vhalimi radio programme. In the very first episode Nevondo shared her experience of using maiiure on her fami witli listeners: "Fanners and listeiiers... I want to talk about organic fertilizers. I want to use cattle manure and poultry manure. We must have a storage facility giving it time to mature. Either way wc must not use the manure from the kraal straiglit to the farm for application as it might have some pests and again to balance it using lime so that our trees have balance nutrition." Nèvondo Lutendo, smallholder farmer In Limpopo, Credit: Agrlcre Ltd OPEN SOURCING FARMERS, VOICE II4DIO-OUR UNIQUE SOLUTION
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Since the COVID-19 pandemic, LYF has experienced a steep increase in demand for FVR training from organisations across the world. In respoiise, we developed the free-to-access online FVR Resource Hub and launched the FVR Academy, a free online training course and coaching programme with an accompanying community of practice. In 2022 and 2023 we trained 31 farmer orgaiiisations and cooperatives from I I countries in Africa and Asia, who developed their own fully- costed participatory radio project concepts. The radio programme broadcasts are managFed and produced by the local partners and sustainable without ongoing support rrom LYF. We remain very grateful to the donors who have supported our work to devclop and 12uJ)ch the Fanners, Voice Radio Academy: The Fore, the Network for Social Chaiige, Souter Charitable Trust, Prince of Wales Charitable Fund, Pignatelli Foundation, The Edith M Ellis 1985 Charitable Trust, the Gibbs Trust and Peter Stebbing Memorial Charity, who enabled this work over the last year. There has also been a gyrowth in the nurnber of coffee companies that are spoiisoring Farniers, Voice Radio Academy, with special mention to Cup North (the orgaiiisers of Manchester, Birniingham and Dubliii Coffcc Festivals) and Dark Woods for their ongoing and generous support. The following is a summary of progress against the Parniers, Voice Radio business plan objectives. l. Increase take-up of FVR through open sourcing The first Famiers, VoiL¢ Radio (FVR) Academy course, delivercd in Spring/Summer 2022, traiiied 14 famier organisations and radio stations from 7 counlries (Kenya, Malawi, 7,ambia, Ghana, South Africa, Uganda and Iiid ia). Of these, I I partner orgaiJisation8 graduated the traijiing programme with a fully dcveloped and costed Farmers, Voice Radio programme plan, ready to pitch to prospective partnLrs and donors and deliver on tlie ground, in their contexts, At least 3 ot'these organisations have gone on to produLe and broadcast their own FVR programine series (Iwo in Kenya and on¢ in Malawi). I"he second FVR Acadcmy programme in Spring 2023 included 12 coffee, lea, shea and cocoa organisations from seven countries (Kenya, Tanzania, Uganda, Rwanda, Ethiopia, Ghana and Togo). The thematic focus of the course was delermined based on feedback from the first 14VR Academy. The training included tour live online gyroup sessions with structured homework, individual coaching, digital resources and a coinmunity of practice platform. Tea, coffee, cocoa and shea smallhuld¢r producers are based in very rural and isolated communities and face very similar challeiiges related to climate change, volatile supply chains and unsustainable agricultural practices. Many of the workers involved in these crops are women, who face gender discrimination, poor educalion outcomes and are excluded from the inforniation they need to improve their farn]ing and business. All the participating organisations Iiad a missioii of empowering rural smallholder communities and an Édea for a FVR project. Oiice again, tlie course was free for all participants. The training course evaluation showed that 800/0 of participants attended or watched all of the sessions and completed all of the homework activities. 80% of participants felt tliat their knowledge and skills of participatory radio significantly improved and gaiiied confidcnce that their orgai)isation would deliver a FVR programme series within the nexl 12 months. IOO/o would recommeiid the course to a colleague or peer at another orgaiiisation. One of the FVR Academy participants was Beth, a coffee agronomist from Kenya who helps smallholder farn]ers to improve their productiOT] SO that they can iiicrease efficiency and iiicome in a sustainable way. Oiie of the most common cliallenges that she hears from the fariners slie works with is how the changing seasons and iiicreasingly frequent extreine weather events are affecting their crops and ability to earn a livelihood from coff¢¢. Beth is currently working with a coffee fanners, cooperative society in Kirinyaga County to develop a FVR programine concept focussed on motivating youth to get involved in coffee production, reducing the costs
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 of production at farni level (with an cmphasis on organic iiiputs) and increasing adoption of crop and income diversification to reduce reliance on coffee. Beth commented, "Mor¢ youthful men and women ar¢ showing Interest in coffee farming in tlie recent years. This creates an opportunity to skill them with the available modern tcchnologics and developin¢nts iii tli¢ coff¢¢ industry through means that reach tliem, radio being one. Most farmers in iny coinmunity listen to the radio whicli make it even inore appropriate for use in passing useful infonnation about coffee fanning." Another FVR Academy participant, The PureTrust Foundation in Ghana, is working witli a corporate partner to dcvelop a PVR programme that aims to Ihe streiigthen the financial literacy of women shea nut collectors and butter .1 processors iii lh¢ Nortlierii Kegiion of (ihana, Ruliaimatu Yazidu, Communications Officer at the PureTrust Fouiidation who participated in the FVR Academy, cominented: "The course lias been an eye opener for ine pcrsonally. This is because we havc had radio with us all along, yet I never really understood how far reachingi il could be, especially where our larget audience are very low lilerate farniers. l also love the fact that the farmers will be creating the Content theinselves. It will be very empowering to them!?Y Th¢. PUTruSt Foundatioii worked with other partners iii northeni Ghaiia to produce and broadcast a series of 6 different radio programmes in Dagbani language that discussed financial planning, budgeting, and borrowiiig and financial services available to womeii shea collectors and processors. Oiie of the most lively discussions was about how to talk aboul financcs with their husbaiids and other family members. The women themselves presented discussed these topics on the radio programmes that were broadcast on two stations, twice a week, to an estimated audience of 300,000 people, The winner of the small graiits ¢oinpetition was Union KC x Beyond Beans, based in Togo. Thi5 organisation will be producing and broadcasting radio programmes for coffee and cocoa farn]crs in the Ewe and Kabye languages of northern Togo, on radio station Planète Plus. FVR saving and radio Women processing 5heo nuls in Ghono. Photo credit.. PureTrust 2. Develop business partnerships and sponsorship Partnerships have been strengthened with existing partners, including Twinings, Ethical Tea Partnership, Rainforest Alliance, The Body Shop, Cargill Zor, Global Shea Alliance, Solidaridad, Business Social Responsibility, UK Aid's WOW team and others. A number of new relationships are also in development, ceiitred around bespoke FVR projects within these organisations, supply chains or sustainability programmes.
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 A corporate sponsorship model has been trialled to finance the FVR Academy beyond 2023. Our initial focus has beeii on the speciality coffee sector and we have received financial support from Dark Woods Coffee, Cup North and we ar¢ starting to see smaller coffee companies spoiisoring FVR. Cup North selected FVR as its charity partner agaiii for the Manchester and Bimiingham Coffee Festiv5 2023 (and Dublin Coffee Festival in 2024). FVR also had a stand at Otle Coffee Festival in April 2023. 4. Identify and secure appropriate grant funding In addition to the focus on developing coryorate fuiiding streams, the following grant income was also secured in the last financial year.. Guernsey Overseas Aid and Development Commission £8,700 match-funding from Ethical Tea Partncrship. The Edith M Ellis 1985 Charitable Trust- £2,500 received in July 2022 Pignatelli Foundation- £2,500 received in April 2023 Gibbs Triist- £2000 received in April 2023 Souter 'frust - £3000 received iii January 2023 Charity Governance Awards- £IOOO runner up award received in June 2023 Dutch Government FVO fuiid- tolal project award Q64,898 for 3 years plus £113,527 iii match funding from Tlie Body Shop, Cargill Zor aiid Solidaridad, LYF received £11,873 in 22123 for the LYF staff costs and the listeiier feedback systein. £38,710 tor one year project in Malawi. 5. Raise the proflle of FVR and 8hare learning The FVR Team continue to raise the profile of our work through our website, social media, presenting at events, contributin¥ to publications and other activities oiitlined bclow: The Rainforest Alliance International Training Team hosted a very positive webinar for RA staff about the experiences of FVR in Ethiopia and Uganda on 14, July 2022. 40 RA stsff attended. This webinar led to th¢ devclopment of the RA funded PTQj¢Ct in Soiith Africa. FVR was in the top 3 at the Charity Governance Awards in the category 'Transforming with Digital,. Two board ineinbers and a staff Inember attended the award ceremony on 8th June 2023 and we were a runner up (wiiining £1 000). Presentation at the Global Shea Alltance annual conf¢rencc 2022 alongside The Body Shop and feature in the GSA and 'fBS Annual Reports. TBS won a Sedex Award for the FVR project in Ghana whicli geiierated social media coiitent. Participatlon, stand and presentations at Manchester and Birniingham Coffee Festivals, including recording and producing a podcast in Manchester on the power of radio to raise farn]ers' voices htt s:Ilsoundcloud.com/hclark-9404272001farn]ers-voice-radio- odcast-at-manchester-coffee-festival- 2022. In Birniingham FVR trialled a raffle as an income generator which worked very well. FVR Presentation at an event hosted by La Marzocco in Leeds in September 2022. FVR Presentation at a Fair Trade event at Leeds University hosted by Anne Tallontire. The FVR Team participated ii) several UK Aid SCCF learning eveiits, which led to FVR being invited to be on the panel of a UK Aid learniiig event in London in September 2023. FVR Interview and article in Boughton Coffee House Magazine published in May/June 2023. FVR article in Radio User inagazine in January 2023. io
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Invite to the Prince of Wales Charitable Fund Summer Reception at St James Palace (the event took place on 12 ' July 2023 and Ian Agnew met His Majesty King Charles JII). Since then, FVR has featured on the KCCF website as a blog htt s://www.kccf.or uest-blo -lorna- oun -foundation NOT JUST US Not Just Us (NJU} is ihe L Yr's programme that supports disadvantaged people to becorne ethical entrepreneurs. NJU focusses enlirely on ethical business, the rigyhts and responsibilities that .%hould be follow¢d within international supply chains and the global interconnectedness of disadvantaged people across the world. NJU takes a very different focus to the 'Dragons Den, or 'Apprentice' driven forni of entrepreneurship and instead, promotes belter understanding of the ethics in business and in trade, as well as creating a new generation of ¢thical entrepreneur5 amonsyst the most disadvanlaged groups in IJK soci¢ty. No other programine like this exists in th¢ UK. The NJU Story: Building Bridges and Empowering Communities In 2009. as a result of working alongside Oromo refugees in M&nchester, NJU was born. Together with this Lommunity, the Lorna Young Foundation established The Oromo Coffee Company, the world's first refugee•owned Fairtrade venture. This social enterprise proved to be a resounding success, generating much-needed inLome for the communityg whilst empowering indlviduals to secure employment, training, and to launch their own businesses. The suLcess of The Oromo Coffee Company resonated beyond Manchester. Impressed by our fledgling model, the UK Government provided funding for a pilot project in Huddersfield, West Yorkshire. This pilot targeted NEET (Not in Education, Employment or Training) young people in Huddersfield, aiming to equip them with the skills and confidence to thrive. This initiative became known as the Not Just Us (NJU) programme and its early success paved the way for further growth, securing Big Lottery Funding and allowing NIU to expand its reach across Northwest England and Yorkshire. us Figure 15ome of the early NJU portlclponts Components and Aims of NJU NJU provides people with a wealth of learning in relation to trade justice and responses to the inequality of the system. Getting involved with NJU provides participants with learning in relation to the co-operative movement, ethical certification schemes, basic business start-up inforniation, rum]ing a social enfrrprise, fundraising and sponsorship, managing events, marketing, networking, PR and monitoring and evaluation. People involved in NJU are also introduced to leading ethical businesspeople who volunteer their time with the programme, as well as visiting socially responsible enterprises.
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 A key part of the NIU process involves participants choosing a cause (usually local) that is important to them. Any profits made from their new social enterprise will then be put back into the cause as a donation or as an investment. This means that NJU groups soon become an important feature of a local area - generating enthusiasm, growing initiatives and creating income and employment opportunities for their neighbourhoods. The overall aims of NJU are to: Increase life-3kills and enlerprise J'kill.s ofpeoplefrom disadvanlaged areas leading io greater polenlialfor income generalion. Improved community cohesion through .Aoining people of different ages, backgroundg and culiure.s in joint so¢ialprojecl.s that benefit their communities. Increase employabilily, leading to greater per,gonal aspiralions. Increa,se confidenLe, 3e!f-esleem and wellbeing ofdisadvaniagedpeople, Increa.s'e awareness of ihe need./or eihically-driven enterprise - and ihe interconnectedness belween UK cilizen3 and despL)ratLly poar producers ai ihL? other end of the supply-chain, NJU - Groups and their Social EnterprAses Over the years, NJU has empowered a diverse range of individuals and groups, including: Young people facing disadvantage in super-output areas. Individuals with learning and physical disabilities. Homeless people Social housing residents and the elderly. Long-terni unemployed individuals People with mentsl health issues Adults with autism NJU'S impact has extended beyond individual stories, forging connections and fostering understanding between diverse communities. We were the first organisation in the north of England to use the tool of social enterprise in order to facilitate dialogue and collaboration between Muslim and non-muslim NEET youth in West Yorkshire - demonstrating the power of building bridges across divides. Today, NJU'S infiu¢nce has stretched across the north of England. We have collaborated with numerous organizations, including the Hamara Centre Leeds, Rochdale Boroughwide Housing, Greater Manchester Youth Network, Dame Kelly Holmes 'J rus( Black Cat Theatre, and Places for People. Prior to 2022, over 30 ethical enterprises had been created as part of the NJU programme, including businesses where ethical products were both sourced and created by a group (tel4 coffee, chocolate, cocoa, soap, fudge, bath boTnbs, mugs, coconut oil, arts and crafts). Other enterprises focused on income generation from events, catering and developing drama productions that address¢d social issues. NJU has seen real increases in the life and entrepreneurial skills of young people from disadvantaged areas, leading to greater potential for income generation, vastly improving employability chalices and improved coinmunity cohesion. 12
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 NJU core mission is to economically empower individuals, whilst fostering vibrant, inclusive communities. We have continued to remain in touch with many past NJU participants who have reached out to us to thank the L YF for their support and enthusiasm - at a time in life when there seemed to be no one who could offer them help and advice to create an enterise with ethics and social responsibility at the heart of it. One such person is Matt from Manchester, who got in touch with us to say: "From where I was [before NJU] to where Iam now, Jfeel i,¥ really remarkable and am forever thankful for all the help and suppori I received]rom my hous'ing associalic)n and from ihe Lorna Young F()undation s NJU gTOUP. They were ah,w()lulely instrumental in helping me ihrough diffieuli time,w and giving me a sentse ofhope andptlrposefor ihefuture I got exactly what I nceded]rom NJU. ' Testing Open Sourcing of N.IU and the NJU Toolkit 2021-24. Following the positive impact of NJU, the Board and Executive recognised its potentiiil for wider implementation and inspired by the successful open-sourcing approach of our Fanners, Voice Radio, a %trategyic decision wa8 made to open-source NJU. This mean8 that all of the knowledge, experience, and resourccs developed through NJU will be frc¢ly available to those in need of this sort of learning and ethical bu8iness awareness. During the reporting period, we worked with several &yroups and orgianisations in the Greater Manchester area, trainingy community-based staff - to help them to understand how the NJU approach works, so that they could use our newly developed NJU Toolkit work with and to support local people who wanted to set up a soclal enterise. The Toalkit has been designed so that different &yroups of people - with a rangie of previous experiences (or none) - can work at their own pace and can tackle the learning materials in any order, thereby ensuringi a constructive and ¢njoyable practical education for different individuals within a group. By the end of the rcporting period, 4 groups tested out this new open-sourccd Toolkit approaL'h - these included an 'Autistic Adults NJU, group who set up their own NJU service that provided Aut18m Awarencs8 trainings to companies and organisations, 2 sewing groups comprising mostly of female refugees who produced bcautiful clothes and handicrafts and a cooking enterprise. I'he groups that were created in Rochdale and in partnership with Rochdale Boroughwide Hoii8ing¥ have continiie(I to attend markets, events and festivals selling their products. One of the women involved in the cooking enterprise went on to set up her own events catering businesses and hds supplied various buffet selections to local authority and businesses meetings. Another of the groups- focussing on sewing products - began to create denim 'Artisan Aprons, _ collecting and recycling old denim jeans and turning them into aprons for use in the home, but also to be worn by baristas in coffee shop. This group attended the prestigious Cup North coffee festival in Manchester, where the organisers very kindly provided a stall free of charge, so the women involved could target the coffee roasters and coffee shops with custom-made barista aprons. 13
LORNA YOUNG FOUNDA TION REPORT AND FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Future Dmrection of NJU and the Toolkit During the reporting period, a new Not Just Us website was created. A great deal of thought needed to go into the new website because it is the platforni where groups can access the Toolkit and therefore needed to be imcomplicated but attractive. Working with designer Sally Davidson, we will launch the website in 2024 and will be monitoring the use and uptake of its resources. Next steps for the work of NJU and the Toolkit invoIve seeking funding so that we can lest the Toolkit with individuals- in addition to group. This is because the Lorna Young Foundation does not want to exclude anyone in need of an ethical enterprise education and materials, from discovering our work and from economically benefiting from it themsclvcs, whilst learning further about Indu¢tFoJb: Modul• I Mod• J O,... mo1+4 Modul•5 l.Tr, Modul•7 Figure 2 The new NJU webslte Module5 responsible business practices. In early 2024, we were thrilled to learn that our dpplication to become a training provider for th¢ Duke of Edinburgh (DofE) scheme had been succ¢ssful. This !%, . means that the NJlJ Toolkit will become available to any of the yroups/schools/individuals who wish to learn about ethical enterprise as part of their DofF, challenges. We hope that this will prove to be yet another important opportunity for the Lorna Young Foundation to extend its reach and its influence - with no cost to these youngy members of the public who will ultimately become th¢ ethical entrepreneurs of the future. 14
LORNA YOUNG FOUNDA TION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Structure and Management Organisational structure and Board This report and review is provided by the Trustees of the Lorna Young Foundation (charity no. 1112895), whose regislered office is at: The LYF, 47 Lea Lane, Netherton, Huddersfield, West Yorkshire, HD4 7DP. The Lorna Young Foundation is also a regist¢red company (04788426) private, limited by guarantee and with no share capital. The Governing body of the Loma Young Troundation is the Board of Trustees, wlio are also members of its management committee. The Board meets a minimum of tEtre¢ times a year, or as otherwise directed by its Director and Chairpersoii. At one of these nieetings, its ACJM, the otyicers are elected for an annual terni of otrice. The Trustees of the charity during the financial year of 2023-24 were led by Chalrperson lan Agnew. All Trustees names are contained on the final page of thts report. Duriiig the course of 2023-24. tlie Boa1 of Trustees niet to r¢vi¢w tlic cliarity's stt7tegy> operatioiis and fii)atiC¢. In addition, monthly Ineetings took place between the Chair and Director and other Trustees were frequently consulted and infornied, providing tidvice and challenge. The admiiiistration and op¢rational procedures of the charity are the respoiisibility of the current Board of 'rrustees, wlio delegate the day to day strategic and operatioiial management of the charity to tli¢ Director and through ihi8 Position to the appropriate staff through the method of sub-contracting and delegation, where appl icable. Governing Document The Charity is controlled by its Memorandum and Articles of Association, and constitutes a liinited company> limited by guarantee, as defined by the Companies Act 2006. Governance strategy Following ali extensive revi¢w of activities, iiicome, expenditure and capacity. the cliarity delivers financial sustainability and progressive service development, al l of which elements are revi¢wed at Truslees meetings, aloiigside regiilar Trustee reports, as appropriatc, and periodic risk appraisals. Recruitment and appointment of new Trustees We arc grateful to have a Committed and highly expert Board of Trustees with a mix of skill sets. We are not currently recruiting new Trustees. For future recruitment, th¢ Board rccognises that is it important to recruit those who fully understand the issues and challenges of etliical trading and share tlie general phi1050phy of the need to work towards a fairer approacli to consumption and distributioii of resources and of access to the knowledge and infornjation needed by the world's poorest farniers. The charity strives to promote a culture of open access and business acumen in equal measure and does not wish in its development to losc sighi of Èts prime reason for existiiig. Management and staffing Throughout this year, the charity had two formal employees for PAYE purposes. The charity has an Operational Dircctor and two FVR D¢v¢lopment Managers, one of whom works on a PAYE basis and the other on a on a freelance basis. A Finance Officer carried out basic bookkeeping functions on a voluntary basis. This has proved a higlily effective way to manage the charity as it has scaled up and grown, 15
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 providing a flexible resource. Other individuals work on a freelance basis, as and when the need arises and when funding is available. Other outsourced support The charity now has an accountant, Einma J Austin FCCA of Smith Austin Chartered Certified Accountants, who has very kindly agrecd to act as ali independent examiner for the accounts for no charge, We are very grateful for her support. The Board believes that it has set a standard for reporting and good governance which is more exacting than usual for a charity of our si7.e. 16
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEARENDED 30 JUNE 2024 Financial Review The LYF'S financial year end is 30 June 2024. The charity continues its aim to ensure tliat its day-to-day finances are healthy, its accounting procedures are robust and that it is always mindful of and alert to the stratsgic issues and risks associated with the management of fui)ds. Financial Results and Positfion The presentation of our accounts for tlie year reflects our responsibilities in relation to the varioiis grant funders that have supported us with income that is separately identified as restricted income in tlie SOI,'A with corresponding expenditure. All our financial income and expenditure - both restricted and unrestricted - underpins our rnission. During thc year the charity received donations aiid income of £192,910 (of which £191,004 was rcstricted) and includes Gift Aid recovery of £Nil aiid Bank Interest of £186. Its expenditure was £167,669 leaving reseeS at the year-end of £115,007 (made up of Unrestricted I".unds of £27,470 and Restricted Funds of £87,537). Our unrestricted funds Lontinue to reach a more sustainable level. The Board wishes to thank all of its frinancial supporters, both and small, and takes its responsibility of slewardship in the distribution of monics awarded to us with tlie due diligence expeLted of custodians. Reserve$ Policy The charity's aim is to build up and maintain unrL'stricted r¢s¢rves amounting to approximately 12 weeks operational expenditure. The level of unrcstricted funds lias improved during this year. and is now in line with our reserves policy. Principal Funding Sources Principal tunding sources have been through g?rants from a nuniber of independent Trusts aiid fouiidations, as well as projLct income from commercial supply-chain orgaiiisations in support of proj¢cts relating to th¢ir producer partners. As rcport¢d previously our stratcgic aim is to move away froIn tlyis Irlianc¢ on graiil fliiiding and build sustainability through income diversity. We are actlvely exploring oihcr sources of income, includiiig corporate and individual donations, Lonlracts, trading income <ind legacy funding. Investment Policy and Objectives There insufficient unrestricted funds to considcr an investment policy at this stage, although the Trustees are fully aware of the ethical considerations to apply should future monies becomc available and would take the necessary advice from our professional advisers at the time of deliberation. Risk management The Board have adopted an ongoing process of risk assessment and management. Where appropriate, robust systems or procedures, includiiig financial have been established to manage risks. Once the risks have been ideiitified, a 'tratTic light, system is then adopted to manage the risk and planning. This system is not only helpful and best practice for any small charity, but it is also necessary for most larger-scale funding organisations. A review of risk is a standing item at all Board meetings, and we are continually in discussion with professional representative bodies and oiir funders, on matters of governance, strategy, employment, and risk. 17
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Reference and administrative details Registered Company number 04788426 (Ei iigland and Wales) Registered Charity number 1112895 Registered office The I,YF, 47 1,ea IAne, Netherton, I4uddersfield, West Yorkshire, HD4 7DP Trustees Agncw (Chairperson), l3 McKinnon, A Faulkner, L Wilson, T Sheldon, L Gritfin, F Sobo-Allen. Independent examiner Fmma J Austin FCC;A Bankers: Unity TrusrpIL, Nine Brindley Place, Bimiingham: B12HB. Thc Co-operalivL Bank, PO Box l O I, l Balloon St, ManLhester, M60 4EP Triodos Bank NV, Bruiiel House, I l The Promeiiade, Bristol BS8 3NN Web references www.not'ustus.or www.fannersvoiceradio.or 18
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Responsibilities of Trustees 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 company's financial activities during the year and of its financial position at the end of th¢ year. In preparing financial statements, the trustees are r¢quircd to: Select suitable accounting policies and then apply them coiisigtently, Makc judgements and estimates that are reasonable and prudent. State wlietlier applicable accountiiig standards liave been followed, subj¢ct to any material departures disclosed and explained in the finaiicial statements. and Prepare the financial statements on the goiiig concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are respoiisible for keeping proper accounting records which disclose with reasonable accuracy at aiiy time the financial position of the charity and to enable them to ensure that the financial statements comply with tlie C"ompai)ies Act 2006. They arc also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities, 'rhis report has been prepared in accordance with the special provisioii of Part 15 of tlie Companies Act 2006 relating to smal l entities. This report was approved by the trustees on 24th March 2025 and sigyned on their behalf by: lan Agnew Truste¢ Company No. 4788426 Charity No. 1112895 19
LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF LORNA YOUNG FOUNDATION I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024. This report is made solely to the charity's trustees, as a body in accordance with Section 145 of the Charities Act 201 I. My work has been undertak¢n so that I might state to the charity's trustees those matters I am required to state to them in thi5 report and for no other purpoqe. To the fullest extent perniitted by law, I do not accept or assume responsibility to anyone other than the charity and the chaTily'S trustees as a body, for iny work, for this report, or for the opinions I have fornied. Responsibilities and basis of report As the charity's trustees of the Company (who are also the directors of the company for the puryoses of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {"the 2006 Act"). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligibl¢ for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 201 l Act"). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. Independent exumlner's slatement I havc completed my examination, I confinn that no material matters have Come to my att¢ntion which gives rne cause to believe that.. accounlingy records were not kept in accordance with section 386 of the Companies Act 2006. or the account8 do not accord with such records. or the accounts do not comply with relevanl accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the acLounls givc a'trne and fair, view which is not a matter considered as part of an independent examination. or •the accounts have not been prepared in accordance with the Charities SORP (FRS102), Emma J Austin FCCA Smith Austin Ltd Chartered and Certifi¢d Accountants 50 Hoyland Common BaTn51ey S74 OPB 2024 20
LORNA YOUNG FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Total Unrestricted Restricted UnStriCted Restricted Total Notes Incoming Resources Income from generat¢d fijnds Other Income Total incoming resourees 1,906 191,004 192,910 9,483 79,814 89,297 4,300 93,597 1906 191004 192,910 13,783 79,814 LYF ChAritAble Activity Charges Incomel(Expenditure) 2&4 62,713 62,713 Less: External Resource8 Expended 4 Ex1emal Charitabl¢ a¢tiiities 108,653 108,653 55,815 55.815 Other expenditure 39,016 59,016 54,716 54,716 Total Expenditure 59016 108653 167669 110,531 Iyet incomi ng/{outgoi ng) resources 470 24,771 25,241 21.780 38,714 16,934 Transter betWEen tunds Fund balances brought forwdrd 27,000 62,766 89,766 5,220 101,480 106,700 Fund balonces carried forward t 30 Jun 2024 27470 87 $37 115007 89 76() There were no r¢cognised gains or losses for the year ended 30 June 2024 other than those included in the Statement of Financial Activities. The notes on pages I I to 18 forni part of these accounts. 21
LORNA YOUNG FOUNDATION BALANCE SHEEET AS AT 30 JUNE 2024 2024 2023 Notes Fixed Assets Tangible fixed assets 59 79 Current assets Debtors Accrued Income T&Kes and social security C&sh at bank and in hand 11,038 5,490 5.000 1.200 100 173 116,704 91,413 Creditors: amounts falling due wilhin one year 1,756 1.726 Net current assets 114,948 89,687 Total assets less current liablilties 115007 89,766 Represented by: Restrict¢d funds Unresti'icted funds 87,537 27,470 62,766 27,000 115007 89.766 The company is entitled to the exemption from audit under Section 477(1) of tlie companies Act 2006 for the year ended 30 June 2024 'rhe tnembers have not requiTed the company to obtain an audit of its financial staternents for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for: (a) ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and preparing fanCIal statements which give a true and fair view of the state of affairs of the company as at the end of each tinancial year in accordance with the requirements of Section 396 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. (b) The accounts have been prepared in accordance with the special provision5 of Part 15 of the Companies Acl 2006 relating to small companies. Approved by the company on 24th March 2025 and signed on its behalf by Ian Agnew Trustee 22
LORNA YOUNG FOUNDATION NOTES FORMINC PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies 1.1 Basls of preparation of aeeounts 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) (effective l January 2015) - (Charities SORP (FRS 102)), the Financial Rcporting Standard applicable in the UK and Republic ol'Ireland (FRS 102) and the LompatlAes Act 2006. Lorna Young Foundation meets the defmition of a public benefit entity under FRS 102. Assets and liabilities are inilially recognised al historical cost OT transaction value unless otherwise stated in the relevant accounting policy not¢(s). 1.2 Tangible fixed assets and depreclation Tangible fixed assets are.stated al cost less depreciation. Fixed assets costing more than £ 100 are capitalised. Deprecialion is provided al rates calculated to write off lh¢ cost of fixed assets. less estimated residual value. over their expected useful lives at the following rates: F.quipment- 250/0 Reducing Balance 1.3 Inventorles 8t()ck is valued al the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 1.4 Ineome Inconie is received by way of donations, trust grants and gifts in kind and is included in full in the Statement of Financial ALtivities in the year in which il is receivable. CJifts in kind are included in income at a valuc which is an estimate of ihe linancial cosls boTne by the doT]or where such a Cost is quantifiable and measurable. No income is recognized where there is no financial cost borne by a third party. Other incom¢ is included whLn received. F.xpenditure Expenditure comprises activities undertaken which are directly identifiable as wholly or mainly in 5UPPOrt of the company's objectives. Governance exp¢nditure relate5 to compliance with constitutional aiid statutory requirements. Charitable activities include expenditure on the various projects and programmes undertaken and include both the direct costs and support costs relating to those activities. Support Costs have been allocated to activitie5 on a basis consistent with the use of resources, for example staff and subcontractor costs by time spent and other costs by usage. Resources expended include attributable VA T which cannot be recovered. Funds The company has a number of restricted income funds to account for 51tuations where a donor requires that a donation must be spent on a particular purpose or where funds have been raised for a specific purpose. All other rd$ are unrestricted income funds. The fund5 held in each of these categories are disc105ed in note I I to these accounts. 1.7 Government grants Government grants are recogni5cd in the income Statement in an appropriate manner th8t matches th¢m with the expenditure towards which they are intended to contribute. 23
LORNA YOUNG FOUNDA TION NOTES FORMING PART OF THE FINANCIAL STATEIVIENTS FOR THE YEAR ENDED 30 JUNE 2024 Grants for immediate financial support or to cover costs already incurred are recognised immediately in the Statement of Financial Activities. Grants towards general activities of the entity over a specific period ar¢ recognised in Statement of Financial Activities over that period. Grants towards fixed ass¢ts are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned. All grants in the Statement of Financial Activities are recognised when all conditions for receipt have been complied with. Pension costs and other post-retirement benefits The cornpany operates a defined contribution nsiOn scheme for the benefit of its employees. ContribLltions payable are charged to the profTrt and loss account in the rIOd in which they are payable Incoming resources fr()m generated funds 2024 2024 Unrestrieted Restricted 2024 Total 2023 Total Donations and grants Gift Aid Interest receiTr8ble 1,720 191,004 192,724 89,205 186 186 192 910 92 89,297 191004 AmoLmt charged to projects 62,713 152,010 191004 250 490 Other Income 2024 2024 Unrestrleted Restrieted 2024 Total 2023 Total Siatutory Parental pay Flight refund previously written otT Grants 3,698 602 4,300 24
LORNA YOUNG FOUNDATION NOTES FORMING PART OF THE FINANCIAL ST A TEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Expenditure 2024 Unrestricted 2024 Restricted 2024 Total 2023 Totsl Cost of genergting funds 2024 LYF 2024 External Providers 2024 Total 2023 Total Charitable aetivities - Proje¢t delivery Not Just Us FVR Open Marr Munning GOADC Ma]awi ETr Majawi Twinings Nigeria Ghana FVO Shea Twtnings Kenya WOW Kenya Rainforest Alliance - South Africa FVR Academy West Africa Unrestricted funded Project costs 18,400 8,650 2,653 3016 21,053 12,466 20,004 28.150 3.339 22,983 7,629 15,683 5J99 28,807 3,000 8,108 41,187 15,683 8,549 32,107 8,180 9,008 56,187 3,000 3.150 3JOO 5,180 900 15,000 3,000 10,292 22,270 3,861 108653 A66 233 118528 Governance costs Trustees expenses Olher resources expended 2024 2023 Wages and Salaries Subcontractor costs Book-keeping Insurance Inforination Technology and Mebsite Telephone Postage and station¢ry Miscellaneous Bank charges 38,781 19J60 377 37.771 15,860 312 219 216 245 32 57 164 59,016 256 77 Included within governance costs are Independenl Examiners fees of £NIL 25
LORNA YOUNG FOUNDATION NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Staff Costs 2024 2023 Salaries Social Security costs 38,490 37,453 Pension costs 291 318 38,781 37,771 Average number of employees Trustees, remuneration and reimbursed expenses No emoluments were paid to any Trustee for their services during the period. No Trustee was reimbursed for expenses durin&i the period (2024:£Nil) Tangible Fixed Assets Equipment Cost At l July 2023 Additions 200 At 30 June 2024 260 l)epr¢eiatlon At l July 2023 Charge 181 20 At 30 June 2024 201 Net Book Values At 30 June 2024 59 AI 30 June 2023 79 26
LORNA YOUNG FOUNDA TION NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Debtors 2024 2023 Grants receivable Other Debtors Taxes and sociol security 11,038 5,490 5,000 1,200 16 31 6,200 Creditors 2024 2023 Amounts falling due withRD one year: Trade creditors Toxes and social security Other creditors AL'¢ruals 240 66 1,690 126 1,360 1,756 1,726 10. Llmlted by Guarantee Lorna Young Foundation is a company limited by guarant¢¢ tmd has no share Lapital. Each mcmbcr is liable to contribule a sum not exceeding £1 in the event of the charity being wound up. 27
LORNA YOUNG FOUNDATION NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysi5 of CharitAble Funds Fund at Incoming Resources 30 June Resources Expended 2023 Transfers Fund at 30 June 2024 Unrestricted fund movements Genera] Fund Restricted fund movements Not J1 Us FVR Opcn GOADC Malawi F.Tr Malawi -rwinings Nigeria Ghana FVO shea Twiningys Kenya Wow Kenya Rainforest Alliance-south Africa VR Academy West Africa 22.656 4.311 11,856 1.071 52,935 21,039 3,871 7,500 36,480 6.720 21.053 12,466 15,683 8.549 32.107 8,180 9,008 56,187 3.000 54.538 12,884 44 22 4,373 9.990 2,340 2273 73 000 11,450 11,348 58,460 2,999 1.000 191004 74 160 233 250 490 225 49 IJ5007 12. Analysis of net assets between funds Unrestrieted Re$tricted Funds Funds Total Fixed &ssets Cash at bank and in hand Debiors Accrued Income Creditors: amounts falling due within one year 59 70,950 11,038 5,490 59 100,173 11,041 5.490 (1,756) 29,223 (1.756) 27,470 115007 28
LORNA YOUNG FOUNDATION NOTES FORMING PART OF THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Not Just Us Not Just Us is the fund code for LYF'S work with disadvantaged communities tn the UK, supporting them to learn ethical trading skills and to create fair trade social ¢nt¢rprises that g¢nerate income for a community cause of importance to them. FVR Ope FVR Open is the fund code given to the 'Open Source Famiers, Voice Radio (FVR). work. Funds allocated to this code have contributed to the design, delivery and marketing of the FVR online platforni and Academy. GOADC Malawi Guernsey Overseas Aid and Development Commission (GOADC) h&$ awarded LYF two grants, The current grant is for a FVR project that will improve the knowledge, attitudes and practices relating to sustainable and quality tea production of smallholder tea farmers in Mulanje and Thyolo. Malawi. The previous GOADC funded project was for sustainabl¢ coffee livelihoods on Mount Elgon, Uganda (completed in August 2021). ETP Malawl Ethical Tea Parthership (ETP) provides match funding for the FVR project for sustainable tea Eivelihoods in Malawi as describcd above (ioint funded with GOADC). Ghana FVO Shea This FVR proje¢t 18 Strengthening the sustainability of the shea supply chain in Northern Ghana. This project is funded by the FVO Dutch Government Fund (via Solidaridad), The Body Shop International and Cargill Zor and aims to increase incomes and improve livelihoods among shea producing communities in the Northern Region. leading to a stronger and more resilient shea supply chain. Thvlnings Kenya This project forms part of Twinings, Sourced with Care programme and targets smallholder tea farniers in Nandi County, Kenya. The aim of the project is to empower women tea smallholders and workers in Nandi Hills to improve their families, health and wellbcing and to achieve more secure livelihoods. Rainforest Alllanee• South Africa Rainforest Alliance is funding a FVR project for sustainable smiillholder agribusiness in Limpopo, South Africa. This project is targeting emerging smallholder farniers in Limpopo with the aim of improving their knowledge, attitudes and practices relating to the production and marketing of subtropical crops. 29