YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
YourStory Ltd
Report and Accounts
Year ended 31 December 2021
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
Legal and administrative details
Trustees/Directors:
Qasim Bashir Timothy Hunter Chairperson Adrian Jones Cathryn Parker Treasurer Timothy Hunter Secretary Principal address: 125 Lambeth Walk London SE11 6EE Registered Charity: 1115367 Registered Company No: 04631388 Bankers: Barclays Bank Plc
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
The Directors, who are also directors of the charity for the purpose of the Companies Act, submit their annual report and the financial statements of YourStory Ltd (The Company) for the year ended 31 December 2021. The Directors confirm that the annual report and financial statements of the Company comply with current statutory requirements, the requirements of the Company’s governing document and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities”.
Structure, Governance and Management
Governing Document
YourStory Ltd was founded as a charitable company limited by guarantee and without a share capital incorporated on 8 January 2003, under company number 04631388. It was also registered as a charity on 17 July 2006 under registration number 1115367.
The Company is governed by a Memorandum and Articles of Association, which established the objects and powers of the organisation. A copy of the governing document is available at the principal address of the Company.
Operational decisions are taken by the Chief Executive and staff. Strategic decisions are made by the Board of Directors in consultation with staff. The Chief Executive, who is also a trustee, attends all board meetings and other staff members are also invited to attend.
Recruitment and Appointment of Directors
Directors are recruited from the members of the charity and from the wider local community. The Directors at the date of this report are set out on page 1. All Directors served throughout the period except as noted below.
Director Appointment during 2021 (During COVID19)
Purabi Chatterjee Appointed on: 18 December 2021 Director Retirement during 2021 (During COVID19) Neil McGregor Retired on: 04 August 2021 Director Retirement during 2022 Chloe Varon Retired on: 10 February 2022
Induction and Training of Directors
The induction programme for new Directors includes:
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Written information on YourStory activities
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A meeting with existing trustees and directors
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An invitation to attend YourStory’s activities in the community
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Attendance at a Board meeting
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
Objectives of YourStory as set out in its governing document
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1 To promote by all charitable means the mental, spiritual, moral and physical development and improvement of young people and others who live in London or other parts of the United Kingdom of GreatBritain and Northern Ireland, and to provide opportunities for them to develop their full capacities and enable them to become responsible members of society so that their conditions of life may be improved; and
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2 To provide facilities for recreation or other leisure time occupation in the interests of social welfare and with the object of improving conditions of life.
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OBJECTS
The objects (the "Objects") for which the Charity is established are:
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(A) to promote by all charitable means the mental, spiritual, moral and physical development and improvement of young people and others who live in London or other parts of the United Kingdom of GreatBritain and Northern Ireland, and to provide opportunities for them to develop their full capacities and enable them to become responsible members of society so that their conditions of life may be improved; and
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(B) to provide facilities for recreation or other leisure time occupation in the interests of social welfare and with the object of improving conditions of life.
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POWERS ANCILLARY TO OBJECTS
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4.1 Powers In addition to any other powers it may have, the Charity has the following powers in order to further the objects (but not for any other purpose):
(A) To advance in all respects the education, training, employment, self-development and selfexpression of children and young people and those members of society of all ages who are socially and/or economically disadvantaged and who live in London or other parts of the United Kingdom of Great Britain and Northern Ireland, regardless of gender, ethnic background, physical or mental ability, religion, race or sexuality (the"Beneficiaries");
(B) to directly or indirectly develop, and/or provide to the Beneficiaries, positive and responsible education, training, employment, self-development and self- expression:
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(i) networks;
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(ii) consulting, mentoring and other services; and
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(iii) guidance and assistance,
in each case in· order that the Beneficiaries are better able to identify, and help meet, their needs and toparticipate more fully in their community and society in general;
- (C) to promote or carry out research;
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
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(D) to provide advice;
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(E) to publish or distribute information;
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(F) to make grants or loans of money and to give guarantees;
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(G) to enter into contracts to provide services to or on behalf of other bodies;
(H) to raise funds. In doing so, the Charity must not undertake any taxable trading activity and must comply with any relevant statutory regulations;
(I) to buy, take on lease or in exchange, hire or otherwise acquire any property and to maintain and equip itfor use;
(J) to sell, lease or otherwise dispose of all or any part of the property belonging to the Charity. In exercising this power, the Charity must comply as appropriate with sections 36 and 37 of the Charities Act 1993;
(K) to borrow money and to charge the whole or any part of the property belonging to the Charity as security for repayment of the money borrowed. The Charity must comply as appropriate with sections 38 and 39 of the Charities Act 1993 if it wishes to mortgage land;
(L) to co-operate with other charities, voluntary bodies, statutory authorities and other organisations and to exchange information and advice with them;
(M) to establish or support any charitable trusts, associations or institutions formed for any of the charitable purposes included in the Objects;
(N) to acquire, merge with or to enter into any partnership or joint venture arrangement with any other charity formed for any of the Objects;
(O) to set aside income as a reserve against future expenditure but only in accordance with a written policy about reserves;
(P) to employ and remunerate such staff, agents or advisers (whether unpaid or paid) as are necessary for carrying out the work of the Charity. The Charity may employ or remunerate a Director only to the extent it is permitted to do so by clause 6 and provided it complies with the conditions in that clause;
(Q)
to:
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(i) deposit or invest funds;
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(ii) employ a professional fund-manager and/or financial adviser; and
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(iii) arrange for the investments or other property of the Charity to be held in the name of a nominee;
in the same manner and subject to the same conditions as the trustees of a trust are permitted to do
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
by the Trustee Act 2000;
(R) to employ or engage or make arrangements with a professional fund-raiser in accordance with the requirements, from time to time, of the Charity Commission;
(S) to provide indemnity insurance for the Directors or any other officer of the Charity in relation to any such liability as is mentioned in sub-clause 4.2 of this clause, but subject to the restrictions specified in sub- clauses 4.3 and 4.4 of the clause;
(T) to insure the property of the Charity against any foreseeable risk and take out other insurance policies to protect the Charity when required;
(U) to pay out of the funds of the Charity the costs of forming and registering the Charity both as a company and as a charity;
(V) to establish or acquire such subsidiary companies as the Directors may determine for such purposes as they may determine (including but not limited to the conduct of trading activities that the Charity is not permitted to conduct) and the Charity may invest monies in such a subsidiary by way of loan or otherwise on such terms as the Directors may determine, so long as in each case to do so is in the best interests of the Charity; and
(W) to do all such other lawful things as are necessary or desirable in the view of the directors for the achievement of the Objects.
Risk Management
The Directors have reviewed the major risks to the charity. The pandemic of COVID19 during 2020 and in 2021 presented a major financial risk to YourStory and mental, health and emotional wellbeing risks to our staff, young people and families we work with. The National Lockdown and localized outbreaks of COVID limited and alteredcommunication with our most at risk young people and halted work on some grant programmes. During this and later periods young people and their families experienced mental wellbeing trauma and long-COVID. However, through the unified support working with Local Authorities, Schools, Social Services, CAMHS, local organisations and other professionals, we are pleased that there are no current serious safeguarding risks for our young people as a direct result of COVID.
COVID had an immediate impact on our cashflow and grant delivery. In 2020, we were able to secure a number of COVID related grants. Four of these grants provided flexibility to focus solely on organisational development, which also spanned into 2021. These grants came from The Government Bounceback grant managed by The National Lottery, London Funders, The Postcode Lottery and the Government Business Rates grant managed by Lambeth. In addition to these, we secured funding in early January 2021 from Impact On Urban Health, to focus on sustainability and organisational development.
Post the COVID pandemic Lambeth Council have been supportive of YourStory and backed us in plans to increase income generation activities. They have matched us with an independent VCSE consultant who is providing in-kind strategic fundraising, IAG and capacity building support. This support is vitally important as due to COVID there is ever-increasing competition for grant opportunities, in a difficult financial market.
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
We are continually assessing our progress in securing funding and contracts within the public and voluntarysectors and entering partnerships with private sector and larger voluntary organisations. Project delivery in terms of staff and beneficiary personal safety are ever-more challenging and it is imperative we continue to invest in our infrastructure, health and safety precautions and governance.
The nature of a large proportion of grants is that they are focused on project delivery, which does not allow YourStory to sufficiently invest towards building infrastructure and capacity to reach more young people and their families. Our four-year project grant, Wraparound, awarded by the Big Lottery Fund ended in September 2020 and whilst this gave financial stability for a specific project, our longer-term aim of securing and maintaining the required financial reserves, still eludes us.
In 2022, we will be targeting local government contracts, which will provide unrestricted income, to deliver projects at full cost recovery, whilst enabling YourStory the flexibility to serve and meet the needs of a far wider range of young people and families.
We are a going concern. The Directors consider that adequate insurance is held with RSA. The Company has continued to benefit from the Health and Safety and Human Resources expertise provided by Peninsula Advice Service. We have increased our processes and procedures ensuring compliance with health and safety of staff, volunteers, young people and visitors to YourStory. The full risk assessment document is available from the YourStory office.
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
Our Vision
A world where every young person has the direction, the support and the knowhow, to realise their ambitions.
Our Mission
Through listening, YourStory’s expert mentors are able to understand an individual’s ambitions, the support they need, and the challenges they face. They are then able to match them with YourStory’s network of businesses and organisations to help them succeed.
Our Values
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Integrity: We are honest, consistent and show an unwavering dedication to our moral and ethical values
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Trustworthy: We can be relied upon to have what is best for an individual at the heart of everything we do
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Supportive: We are dedicated to providing encouragement and emotional help 4. Passionate: We love what we do and believe in the good that it creates
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Dedicated: We are devoted to creating positive change for the individuals we support
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Approachable: We are always friendly, welcoming, and open minded
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Responsive: We strive to be there for individuals whenever they need us, as we understand crisis can happen at anytime
What YourStory Does
Challenge, Inspire and Support
Help individuals create a sense Sense of direction for themselves
Have Positive Effect
On an individual’s ability to envision and control their future
People
The attitudinal shift that people have when they take part in YourStory mentoring. E.g. feel able to articulate and action their ambitions.
Service
Providing a service for organisations who need YourStory’s expertise to fulfil their objectives or do not have the capacity to help individuals themselves.
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
What taking part in YourStory mentoring entails
We know what it’s like
YourStory has been around for 17 years and has mentors who have been in the same situation as you and even some who have spent time in prison. We know what it’s like, where you are coming from and what it takes to create a future for yourself.
We have a network of businesses and organisations who can help
YourStory is not just about mentoring, we have a network of businesses and organisations who, once you have worked out where you want to go, can help get you there.
Look at how others have succeed
Don’t just take it from us that we are good, check out the experiences of others from your area.
YourStory is here to listen to you. We know what it’s like to feel unsure of how to get where you want to go. We have mentors who have been in your position and we offer opportunities which can help you achieve your ambitions.
You’re in safe hands
We are not the authorities, you can trust us. We are made up of individuals from all walks of life, some of us have been in exactly the same situations as you. We want the best for you and others like you – that is why we set up YourStory in the first place.
We can save you time
YourStory has a small but highly effective team who have years of experience dealing with individuals without direction, helping them to set and achieve their goals. By partnering with us to work with the individuals who need extra attention, you will save your own time and thus, be better able to focus your energy on the areas you are expert in.
We can help you fulfil your objectives
YourStory is a multi-skilled organisation which is able to adapt to the individual needs of any funder.
We have a proven track record
We have delivered multiple projects with excellent results, all of which are replicable.
We get results
The sense of purpose and belonging individuals get when taking part in the YourStory programme will help them envision a life without crime, and will also give them the network to practically achieve their ambitions.
We provide excellent value for money
We are able to create efficient projects which create the largest impact due to our expert staff, knowledge of delivering projects with young people and extensive partner network.
We’re here to listen, not judge
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
We know how hard things can be and the difficulty you can have bringing up and helping a child to achieve their potential. We are here to listen to your problems, understand your issues and help you find solutions.
Activities undertaken for the public benefit
YourStory works with vulnerable young people and their families to raise their emotional, mental and physical well-being. Working across South, Central, North and West London we provide mentoring, career development and support on vocational programmes, as well as working to reduce offending behaviour and increase well- being. We concentrate on helping equip them with the skills and confidence needed to take control of their lives and to develop to their full potential.
We work in partnership with schools and academies to help raise school attendance rates, improve behaviour and maximise attainment. We support young people to gain Entry level Functional Skills and progress to GCSE qualifications. We help young people to increase their engagement in learning, personal development and career planning. In particular we support and engage those at risk of becoming NEET (Not in Education, Employment or Training) towards further education, apprenticeships, traineeships and employment.
During the year, to support our project diversity and income strategy, we completed a comprehensive communications strategy, supported by M&C Saatchi and funded by the Building a Stronger Britain funding programme (Home Office). This has strengthened our ability to engage the support of diverse stakeholders around us more strategically, now and as we move forward.
We have continued to recruit staff who are local and understand the challenges our young people face. Our staff are vibrant, inspiring, professional and in touch with the young people, their families and the local community. They are from a variety of backgrounds and cultures bringing varied, rich experiences and skills which widen young people’s horizons, to introduce and support them into new opportunities.
YourStory has built a history and track record of delivering activities for young people across established school and council partnerships. We have increased our activity in helping young people access further education, apprenticeships and employment, especially in South London.
We actively work with families, schools and social service agencies to build appropriate, positive relationships with young people and disadvantaged groups in society. We work in partnership with voluntary, private and statutory sector organisations to provide better opportunities for our young people.
Young people benefit from being able to develop positive, responsible, self-development networks in society for themselves and their peer groups. To help facilitate this process, we and the young people themselves reviewand comment on policies and procedures that may affect the quality of life and opportunities for other young people and disadvantaged groups of society.
We look to the service users themselves on ways to counter discrimination, as they often identify and have to address forms of discrimination on a regular basis. Our service users guide us immensely and we often access particular health, physical and learning activities as requested by young people.
Relationship with The Hampton Project
In 2012, the Chair and Chief Executive of YourStory Ltd took over the management of The Hampton Project Ltd, after Hampton Project Trustees declared they were standing down for personal reasons
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
and wanted the charity to continue. The YourStory Trustees agreed to maintain The Hampton Project as a separate charity and legal entity as it had a long history of serving the community and working with young offenders with a strong reputation in Lambeth.
YourStory and The Hampton Project both work with young people who are not in school and need intensive mentoring. Whilst the backgrounds and challenges of these young people are different, our staff are experienced in working with a range of different needs in young people. The Hampton Project developed its vocational provisions and YourStory were able to benefit from this through regular referrals and projects for young people. In order to match the young person with the best member of staff to help them we sometimes used staff across the two companies.
In 2013, significant time was spent by YourStory management on Hampton Project and it was determined that it would be fair to make a charge for this as all of the relevant costs were being borne by YourStory Ltd. Whenever staff were shared their time was recharged to the other organisation at cost. Therefore, annual management charges were made to reflect costs incurred. Both charities had limited risks incurred by the other.
In early 2018, The Hampton Project was given notice to leave its premises by the landlord Lambeth Council from 1 April 2018. Whilst both entities continued to operate out of the Hampton Project premises until the end of the summer term, YourStory Ltd were only charged £5000 for the final term.
After this, during the summer of 2018, The Hampton Project ceased delivering services to young people, as it no longer had a vocational workshop provision to offer young people. As a result, The Hampton Project changed its registered address to the 204 Young People and Family Community Centre, a building leased by YourStory from Lambeth Council.
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
Projects Serving Young People and Their Families
Our mentoring work with young people is based around helping them understand their mindset and things that will help or hinder them in reaching their full potential.
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
Keeping S.A.F.E by Strengthening Families through Character Education Funded by The Walcot Foundation
2018 – 2021 (Year 3 programme, extended by 6 months due to COVID)
YourStory believe that parents and guardians play an important role in their children's education and that a strong partnership between parents/guardians, children and schools enriches the learning experience of the children/young people involved. Keeping S.A.F.E by Strengthening Families through Character Education is an intensive school reintegration and family support programme for young people (aged 11 – 16) and their families.The programme focused on two main categories:
S.A.F.E Mentoring Young People
Social Attitude Family Environment (S.A.F.E) Positive with Young People
Provided intensive 1:1 mentoring and nurturing group programmes for young people identified through their lack of school engagement and high risk of school exclusion
SFCE Family Support
Strengthening Families through Character Education (SFCE) supporting Families
Provided support for parents/guardians to address issues facing their children, family dynamics and to develop positive relationships with schools
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
School Transition and Organisational Development Funded by The Government and administered by The National Lottery September 2020 – March 2021
Mentoring Young People
Intensive weekly 1-2-1 mentoring supported 85 young people during their transition from Primary to Secondary School and those returning to secondary school after COVID lockdown.
Supporting Families
We also provided weekly practical, emotional and mental support for low-income families suffering from various impacts of COVID19. We worked closely with schools and families to help gain a better understanding on how to support children returning to school.
Digital Skills & Mentoring Project
Funded by Mayor’s Violence Reduction Unit’s Stronger Future Programme October 2021 – August 2022
YourStory worked in partnership with Find Your Feet CIC to provide a Digital Marketing project for 80 young people aged 10 – 18, meeting once a week, underpinned by intensive one to one mentoring support over 12 weeks. There was 4-weeks aftercare support for young people to continue accessing help when and if needed, around Digital Marketing and Mentoring. In total every young person had a 16-week course experience, helping them to find alternative avenues to use Social Media and Technology, whilst diverted
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
away from offending behaviour and to positive lifestyles.
Organisational Development
Funded by City Bridge Trust via London Funders: Community Wave 3 October 2020 - June 2021
A grant to enable YourStory to grow, through investing management time developing sustainable partnerships with schools, colleges, training providers, businesses and employers. The focus allowed YourStory to win contracts and secure grants, mentoring more vulnerable young people, decrease school exclusions and offending and increase successful youth participation in Traineeships and Apprenticeships.
We utilised the funding to:
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Create an organisational development plan achieving four objectives.
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Develop a Strategy and Business Plan for 3 to 5 years and a detailed budget for 2022.
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Develop partnerships with referring agencies, grant-making bodies and delivery partners.
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Deliver on income targets.
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Upgrade the Organisational design including staff structure, policies and procedures for key processes and related training.
Organisational Development Funded by The Postcode Lottery November 2020 - November 2021
Grant to allow senior management to spend time building new relationships with schools, local businesses and partners, publishing evaluation/impact reports, increasing social media activity and to increase the rate of application for new funds and contracts. Providing a contribution towards overheads including rent, governance, IT, insurance and general running costs for 12 months.
The grant gave us the flexibility to retain our experienced staff once the furlough scheme ends for a short period until new grants are received if necessary or if there is a further lockdown. The grant also funds the continuation of mentoring up to 10 of our most vulnerable young people and providing support for up to 10 families in crisis. We increased staff training ensuring COVID Health and Safety was paramount and fully adapted to new, remote ways of working with our beneficiaries.
We utilised the funding to:
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Mentor our 10 most vulnerable young people
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Support families in crisis
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Build new relationships with schools and partners
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Contribute towards our overheads and general running costs
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Retain key experienced staff
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Redesign our website
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Improved social media communication
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Secured three new partnerships
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Secured two new contracts
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Build new relationships with local business
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
- Engage young people in schools
Core Cost and Organisational Development (Covid Response Fund) Funded by Impact On Urban Health January 2021 – January 2022
Impact On Urban Health contributed towards core running costs of YourStory for the period of the grant. There was also a Grants Plus element of funding which provided targeted project financial support and mentored support the YourStory CEO. Grants Plus helped YourStory to research, prioritise and/or reserve projects in the following areas:
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Exploring additional income streams
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Revisiting our Alternative Education Provision and business case for an Independent School
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Establishing research projects
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Creating additional impact and evaluation studies
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
Court Ordered Mentoring Funded by The Weavers Foundation and Drapers Trust January 2021 – January 2022
Court Ordered Mentoring provides young offenders with intensive 1-2-1 mentoring throughout their court order in the community. The aim is to prevent the young person from re-offending, whilst working on key life strengths and improving their involvement with education and employment. The programme is aimed at a broad range of young people aged 10-to-24 in London who have offended and may receive a Court Order.
The initial attempts to obtain referrals direct from the Court proved very challenging. As a result, YourStory engaged more with the Metropolitan Police towards the latter part of 2021. Through this, we were able to obtain a greater number of referrals and support packages for young people.
Engagement levels were initially varied. This was often down to the strength of trust in relationship by the young person with the individual referring them to YourStory. When contact was established between young people and the mentor good progress was made by the young person. All referrals identified as male.
----- Start of picture text -----
Number of referrals by age Reasons for Offending
10 Group offence
8
Firearms
6
4 Knife attack/offence
2
Knife possession
0
0 2 4 6 8 10
12 13 14 15 16 17 18 19 20 21 22 23 24
----- End of picture text -----
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
Volunteers
Our vision is to help vulnerable young people, through emotional, mental and physical well-being support to engage successfully in education, career and life opportunities. We have volunteering input throughout the organisation, on different levels and intensity including financial management, teaching assistants, group workers, administration and project development.
As always, we would not be able to achieve as much with our young people without the valuable contribution of time, energy and expertise of our volunteers and we are actively working to secure stronger links with thevolunteer workforce.
Financial review
Reserves and Investment Policies
The Company continued its banking facilities with Barclays Bank Plc. The Company’s financial reserves are limited, and all funds held earn interest tied to the bank’s base rate. The Company does not have an investment policy. The Directors will review both this and the reserves policy when the Company’s cash reserves increase.
Reserves Policy
The reserves are needed to meet the working capital requirements of the Company and to meet its obligations in the event of a significant drop in funding. The Company needs sufficient reserves to maintain a reasonable level of activity on any programme, including the continued employment of the relevant member(s) of staff in the event of a gap in the provision of income. I t often takes time for grant making bodies to respond to requests and payment of grants does not necessarily follow the Company’s financial year. We also need sufficient funds to meet our legal obligations to staff in the event of termination of an employment contract and meet ex gratia payments approved by the Directors or to fund temporary staff in the absence of permanent staff (e.g. sick leave).
We have worked hard to meet the Board’s aim for reserves to be between three and six months’ recurrent expenditure and to cover any necessary redundancy payments to the company’s staff. Working with the current level of expenditure, reserves need to be maintained between £55,000 and £70,000. Our reserves improved from the 2020 results, though are still below the required level. We expect to see better results in the next 36 months as we target contracted work to provide unrestricted income.
We have built on the good work and feedback gained from our previous consistent good work within the community to secure COVID related organisational and delivery grants, for 2022.
At the end of the year the company held reserves of £11,416.
Future Plans
We have added a Data Analyst and Social Media Officer to our operational team. This follows both individuals successfully completing the Department for Work and Pensions Kickstart Programme with us. These additions to the staff team built on the success of our Statistical Project Manager, seconded from the Home Office for 6 months.
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
We will continue to develop our strategic business plan post COVID, with a focus on financial return in line with quality of services provided. At present we are reviewing the services we are required to fulfill by our newly awarded grants, together with our capacity to do so.
We continually assess our progress in securing funding and contracts within the public and voluntarysectors and entering partnerships with private sector and larger voluntary organisations.
A significant proportion of our grants secured will allow us to invest resources to develop strategic partnerships with other organisations, sharing resources, whilst enhancing outcomes for beneficiaries.
YourStory are actively working towards diversifying our income generation activities. We are looking for reduced reliance on grant funding and expanding into more commissioned services from local governments and statutory services, including the Department for Work and Pensions, The Mayor’s Office, Social Services, Department for Education, the Criminal Justice system and Youth Justice Board. We also want to increase support across a broad range of donations, sponsorships, corporate and high net worth individual income.
At present we cannot fully measure and communicate the huge financial return on investment against the work that we do around reducing offending and/or re-offending, and the correlating cost savings to the criminal justice system, statutory services and public health. Therefore, we will look more closely at data insights and an economic evaluation of our services which will support us to secure more commissioned work by demonstrating significant savings across education, social services, training, employment, criminal justice, statutory services and public health.
Strict budgetary discipline is still required to ensure that services are relevant, appropriate and client centred and that our services reflect value for money. We shall maintain full accountability to our clients, funders and other stakeholders. The Board actively and continuously reviews the conclusions, findings and recommendations of strategic reviews.
Responsibilities of the Directors
Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the Company as at the balance sheet date and of its income resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the Directors should follow best practice and:
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Select suitable accounting policies and then apply them consistently;
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Make judgements and estimates that are reasonable and prudent; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Company will continue on that basis.
The Directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Directors are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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YourStory Ltd Directors’ Annual Report For the year ended 31[st] December 2021
– This report has been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities and in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small entities.
This report was approved by the Directors on 28[th] October 2022 and signed on their behalf by:
Adrian James Jones Trustee
Tim Hunter Trustee
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Independent examiner’s report to the trustees of YourStory Ltd
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes 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 under Part 16 of the 2006 Act and are eligible 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 2011 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 examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice 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 Ireland (FRS 102).
I have no concerns and have come across no other matters 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.
Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG
30 October 2022
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YourStory Limited Statement of financial activities
(incorporating an income and expenditure account)
For the year ended 31 December 2021
| Note Income from: Donations 3 Charitable activities 4 Other income Investment Income Total income Expenditure on: Raising funds 6 Charitable activities 6 Total expenditure 7 Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward Net income / (expenditure) for the year |
Unrestricted £ 360 6,225 19,460 - |
Restricted £ - 167,530 - 8 |
2021 Total £ 360 173,755 19,460 8 |
2020 Total £ 12,727 138,855 15,741 - |
|---|---|---|---|---|
| 26,045 | 167,538 | 193,583 | 167,323 | |
| - 18,681 18,681 7,364 - 7,364 4,052 11,416 |
216 167,322 167,538 - - - - - |
216 186,003 186,219 7,364 - 7,364 4,052 11,416 |
216 165,911 |
|
| 166,127 | ||||
| 1,196 - |
||||
| 1,196 2,856 |
||||
| 4,052 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.
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YourStory Limited Balance sheet As at 31 December 2021
| Note Fixed assets: 10 Current assets: 11 Liabilities: 12 Liabilities: year 13 Total unrestricted funds Cash at bank and in hand Creditors: amounts falling due within one year Net current assets / (liabilities) Total assets less current liabilities Tangible assets Debtors Funds General funds Creditors: amounts falling due after more than one Total net assets / (liabilities) Total funds Unrestricted funds: Restricted funds |
2021 £ 51,161 115,697 |
2021 £ - |
2020 £ 44,430 151,017 |
2020 £ 994 |
|---|---|---|---|---|
| - 48,916 |
994 48,891 |
|||
| 166,858 117,942 |
195,447 146,556 |
|||
| 11,416 | 4,052 | |||
| 48,916 37,500 |
49,885 45,833 |
|||
| 11,416 | 4,052 | |||
| - 11,416 |
4,052 | |||
| 11,416 | 4,052 |
The attached notes form part of these financial statements.
For the year ended 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006. No Member of the Company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the Company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of the affairs of the Company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the Company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard 102 for Small entities Section 1A.
Approved by the trustees on ……………………………… 28 October 2022 and signed on their behalf by:
Adrian James Jones Trustee
Tim Hunter Trustee
Company registration no. 4631388
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YourStory Limited Notes to the financial statements For the year ended 31 December 2021
- 1 Accounting policies
a) Basis of preparation
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 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.
The charitable company 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 or note.
b) Reconciliation with previously Generally Accepted Accounting Practice (GAAP)
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was required.
c) Going concern
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
d) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.
e) Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
f) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
g) Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
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YourStory Limited Notes to the financial statements For the year ended 31 December 2021
1 Accounting policies (continued)
h) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering services, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
i) Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
j) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Office equipment
33%
k) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
l) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
m) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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YourStory Limited Notes to the financial statements For the year ended 31 December 2021
2 Detailed comparatives for the statement of financial activities
| Income from: Donations Charitable activities: Other income Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income / expenditure Transfers between funds Total funds brought forward Total funds carried forward 3 Income from donations Donations 4 Income from charitable activities Grant income Schools Education and mentoring Income from local and national Government Total income from charitable activities 5 Investment Income Interest Net income / (expenditure) before other recognised gains and losses |
£ 360 360 Unrestricted £ - 6,225 - 6,225 £ - - Unrestricted Unrestricted |
2020 Unrestricted £ 12,727 11,200 15,741 |
2020 £ - 127,655 - Restricted |
2020 Total £ 12,727 138,855 15,741 167,323 216 165,911 166,127 1,196 - 1,196 2,856 4,052 £ 12,727 12,727 Unrestricted £ - 1,200 10,000 11,200 £ - - Unrestricted Unrestricted |
£ - - £ 86,018 - 41,637 127,655 £ - - Restricted Restricted Restricted |
2020 Total £ 12,727 |
|---|---|---|---|---|---|---|
| 39,668 | 127,655 | |||||
| 142 38,330 38,472 1,196 - 1,196 2,856 |
74 127,581 127,655 - - - - |
|||||
| 4,052 | - | |||||
| £ - - £ 86,460 - 81,070 167,530 £ 8 8 Restricted Restricted Restricted |
2021 Total £ 360 360 2021 Total £ 86,460 6,225 81,070 173,755 2021 Total £ 8 8 |
|||||
| 12,727 | ||||||
| 2020 Total £ 86,018 1,200 51,637 |
||||||
| 138,855 | ||||||
| 2020 Total £ - |
||||||
| - |
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YourStory Limited Notes to the financial statements For the year ended 31 December 2021
6 Analysis of expenditure
| Analysis of expenditure | ||||
|---|---|---|---|---|
| Raising funds Staff costs Contractors Training Running costs Equipment & Resources Travel Expenses Rent & Rates Insurance Software support Telephone Mobile phones Premises expenses Depreciation Bank charges Interest Governance costs |
Unrestricted Funds £ - 18,681 - - - - - - - - - - - - - - - |
Restricted Funds £ 216 95,049 19,238 1,488 7,539 3,531 1,476 9,096 3,513 4,798 1,487 1,576 13,985 994 279 596 2,677 |
Year ended 31.12.21 Total Funds £ 216 113,730 19,238 1,488 7,539 3,531 1,476 9,096 3,513 4,798 1,487 1,576 13,985 994 279 596 2,677 |
Year ended 31.12.20 Total Funds £ 216 104,933 15,948 - 9,811 3,564 1,143 16,154 3,395 3,419 1,424 2,084 1,303 1,000 333 - 1,400 |
| 18,681 | 167,538 | 186,219 | 166,127 |
Of the total expenditure, £18,681 was unrestricted (2020: £38,472) and £166,538 was restricted (2020: £127,655).
6a Analysis of expenditure (prior year)
| Analysis of expenditure (prior year) | ||||
|---|---|---|---|---|
| Raising funds Staff costs Contractors Training Running costs Equipment & Resources Travel Expenses Rent & Rates Insurance Software support Telephone Mobile phones Premises expenses Depreciation Provision for doubtful debts Bank charges Management fee Governance costs |
Unrestricted Funds £ 142 11,185 151 - 6,036 2,255 474 9,310 2,233 2,249 937 845 857 658 - 219 - 921 |
Restricted Funds £ 74 93,748 15,797 - 3,775 1,309 669 6,844 1,162 1,170 487 1,239 446 342 - 114 - 479 |
Year ended 31.12.20 Total Funds £ 216 104,933 15,948 - 9,811 3,564 1,143 16,154 3,395 3,419 1,424 2,084 1,303 1,000 - 333 - 1,400 |
Year ended 31.12.19 Total Funds £ 216 101,975 43,820 510 12,081 9,890 2,324 14,779 4,310 8,150 1,571 2,162 3,858 1,000 4,395 374 - 1,400 |
| 38,472 | 127,655 | 166,127 | 212,815 |
Of the total expenditure, £38,472 was unrestricted (2019: £30,135) and £127,655 was restricted (2019: £182,680).
Page | 27
YourStory Limited Notes to the financial statements For the year ended 31 December 2021
7 Net income / (expenditure) for the year
| This is stated after charging / (crediting): Operating lease rentals: Property Depreciation Independent examination |
2021 £ 8,953 994 1,445 |
2020 £ 15,209 1,000 1,338 |
|---|---|---|
8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
| Staff costs were as follows: Salaries and wages Social security costs Pension costs |
2021 £ 108,164 2,719 2,847 |
2020 £ 100,624 2,114 2,195 |
|---|---|---|
| 113,730 | 104,933 |
No employees received more than £60,000 employee benefits (excluding employer pension) during the year. The total employee benefits including pension contributions of the key management personnel were £32,622 (2020: £32,622).
One of the trustees was paid £31,992 in respect of his executive role in the company (2020: £31,992).
Staff numbers
The average number of employees (head count based on number of staff employed) during the year was as follows:
| Charitable activities | 2021 No. 7 |
2020 No. 6 |
|---|---|---|
| 7 | 6 |
9 Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
| 10 Tangible fixed assets Cost At the start of the year Additions in year Disposals in year At the end of the year Depreciation At the start of the year Charge for the year Eliminated on disposal At the end of the year Net book value At the end of the year At the start of the year |
6,370 - - Plant & Machinery |
7,843 - - Furniture & Fixtures |
£ 16,556 - - Office Equipment |
Total £ 30,769 - - |
|---|---|---|---|---|
| 6,370 | 7,843 | 16,556 | 30,769 | |
| 6,370 - - |
6,849 994 - |
16,556 - - |
29,775 994 - |
|
| 6,370 | 7,843 | 16,556 | 30,769 | |
| - | - | - | - | |
| - | 994 | - | 994 |
All of the above assets are used for charitable purposes.
11 Debtors
| Trade debtors Other debtors and prepayments Amounts owed by related companies |
2021 £ - 10,320 40,841 |
2020 £ - 3,589 40,841 |
|---|---|---|
| 51,161 | 44,430 |
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YourStory Limited Notes to the financial statements For the year ended 31 December 2021
12 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Taxation and social security Other creditors Accruals Deferred income Bank loan Deferred income Balance at the beginning of the year Amount released to income in the year Amount deferred in the year Balance at the end of the year |
2021 £ 1,684 21,609 10,253 75,999 8,397 |
2020 £ 1,977 19,604 4,022 116,786 4,167 |
| 117,942 | 146,556 | |
| 2021 £ 116,786 (106,286) 65,499 |
2020 £ 19,477 (19,477) 116,786 |
|
| 75,999 | 116,786 |
Deferred income includes £Nil (2020 - £42,528) from The National Lottery Communities Fund, £14,379 from the Walcot Foundation (2020: £9,718), £4,500 from FORE Foundation (2020: £4,500), £1,000 from the Postcode Lottery (2020: £16,498), £Nil from London Funders (2020: 38,542).
£37,097 from Impact on Urban Health, £7,523 from the Violence Reduction Unit and £6,500 from the Weavers Benevolent Fund.
13. Creditors: amounts falling due after more than one year
In July 2020 the Company obtained a loan from its Bank (Barclays) under the Bounce Back loan scheme. The loan was for £50,000, the Government has set the interest rate for the loan at 2.5% per annum and the repayment term is fixed for six years. No repayments were due during the first twelve months. The Government covered interest payable in the first twelve months.
Repayments have been made monthly from August 2021. £8,397 has been included in Creditors: amounts falling due within one year and £37,500 has been included in Creditors: amounts falling due after more than one year.
14 Analysis of net assets between funds
| Analysis of net assets between funds | ||||
|---|---|---|---|---|
| Tangible fixed assets Net current assets Long term liabilities Net assets at the end of the year |
General unrestricted £ - 48,916 37,500 |
Designated £ - - - |
Restricted £ - - - |
Total funds £ - 48,916 37,500 |
| 11,416 | - | - | 11,416 |
14a Analysis of net assets between funds (prior year)
| 14a Analysis of net assets between funds ( | prior year) | ||||
|---|---|---|---|---|---|
| Tangible fixed assets Net current assets Long term liabilities Net assets at the end of the year 15 Movements in funds Restricted funds: Impact on Urban Health The National Lottery Communities Fund London Funders Postcode Lottery Walcot Fund Other grants Total restricted funds Unrestricted funds: General funds Total unrestricted funds |
£ - - - - - - At the start of the year |
General unrestricted £ 994 48,891 45,833 |
Designated £ - - - |
Restricted £ - - - |
Total funds £ 994 48,891 45,833 |
| 4,052 | - | - | 4,052 | ||
| £ 47,903 42,528 38,542 15,498 14,781 8,278 Incoming resources & gains |
£ (47,903) (42,528) (38,542) (15,498) (14,781) (8,278) Outgoing resources & losses |
Transfers £ - - - - - - |
£ - - - - - - At the end of the year |
||
| - | 167,530 | (167,530) | - | - | |
| 4,052 | 26,045 | (18,681) | - | 11,416 | |
| 4,052 | 26,045 | (18,681) | - | 11,416 |
Page | 29
YourStory Limited Notes to the financial statements For the year ended 31 December 2021
Restricted funds:
Restricted funds relate to grants received and utilised during the year which are required to be spent on activities agreed with the grant funder. These are described in more detail in the trustees report and all involve working with young people and their families to help them in difficult circumstances.
| 15a Movements in funds (prior year) Restricted funds: BSBT Grant The National Lottery Communities Fund Cicely Northcote Fund Walcot Fund Other grants Total restricted funds Unrestricted funds: General funds Total unrestricted funds |
£ - - - - - At the start of the year |
£ 1,155 95,821 4,014 18,792 7,873 Incoming resources & gains |
£ (1,155) (95,821) (4,014) (18,792) (7,873) Outgoing resources & losses |
Transfers £ - - - - - |
£ - - - - - At the end of the year |
|---|---|---|---|---|---|
| - | 127,655 | (127,655) | - | - | |
| 2,856 | 39,668 | (38,472) | - | 4,052 | |
| 2,856 | 39,668 | (38,472) | - | 4,052 |
Restricted funds:
Restricted funds relate to grants received and utilised during the year which are required to be spent on activities agreed with the grant funder. These are described in more detail in the trustees report and all involve working with young people and their families to help them in difficult circumstances.
16 Operating lease commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| Less than 1 year 1 - 5 years |
Property 2021 £ 26,000 124,000 |
2020 £ 21,000 119,000 |
|---|---|---|
| 150,000 | 140,000 |
17 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up.
18 Related party transactions
The Hampton Project is a related party of the charity as it is a charity with a common trustee during the period which is managed by the same chief executive.
During the year the charity increased its loan to The Hampton Project by £Nil (2020: £1,536)
Page | 30