Company registered number 05745511
FUTURE SKILLS TRAINING
(Company registered by guarantee no. 05745511, registered charity no. 1119501)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
NfP Accountants Ltd
FUTURE SKILLS TRAINING
(Company limited by guarantee no. 05745511, registered charity no. 1119501)
REPORT AND FINANCIAL STATEMENTS For the year ended 31 August 2022
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative Information | 1 |
| Trustees' Annual Report | 2 |
| Independent examiner's report | 12 |
| Statement of financial activities | 14 |
| Balance sheet | 15 |
| Statement of cash flows | 16 |
| Notes to the financial statements | 17 |
FUTURE SKILLS TRAINING
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS For the year ended 31 August 2022
Trustees Sam Akinluyi (Chair) Jenny Scott-Thompson (resigned 24 November 2020) David Jaggs (resigned 07 July 2021) Elizabeth Broderick Maureen Waweru Sophia Barker (appointed 14 October 2020) Director/Chief Executive Phil Thain Charity reg. no. 1119501 Company reg. no. 05745511 Registered office c/o St Marks Church Battersea Rise London SW11 1EJ Independent examiner Charles Ssempijja, FCA NfP Accountants Ltd 3rd Floor, 86-90 Paul Street London EC2A 4NE Bankers The Co-Operative Bank Plc P O Box 250 Skelmersdale WN8 6WT
1
FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2022
The trustees (who are the directors of the charitable company for the purposes of the Companies Act), present their combined Directors' report and Trustees' annual report (as required by company and charity law), together with the financial statements of Future Skills Training for year ended 31 August 2022. The trsutees confirm that the annual report and financial statements of the charity comply with current statutory requirements, the requirements of the charity's governing document, and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
The reference and administrative information set out on page 1 forms part of this report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution and governing document
Future Skills Training was registered as a company limited by guarantee in England and Wales, incorporated at companies house on 16 March 2006. The company is also a registered charity with the charity commission, registered number 1119501. Future Skills Training constituted under the memorandum and articles dated 5th June 2007.
The governance of the charity is the responsibility of the Trustees. Day to day management is by the Chief Executive, who draws on the support and expertise of the highly experienced Board of Trustees as needed.
Method of appointment or election of the Trustees
Trustees are elected and co-opted under the terms of the memorandum and articles. Regular reviews are held to identify any expertise gaps within the Board of Trustees and appointments are made where required to strengthen the Board of Trustees, subject to all trustees’ approval.
When it is necessary to appoint new trustees, due to either a trustee stepping down or a gap of expertise in the board is identified, recruitment will initially begin through the networks of the board and management team. Applicants will be reviewed by trustees and the successful applicant will be invited to attend a trustee meeting. Following this, on the provision that the board are satisfied and the applicant still wishes to join the trustee board, they will be appointed.
No other person or external body is entitled to appoint any trustees of the charity. The Trustees who served during the period and after the year end are shown on page 1.
Policies adopted for the induction and training of Board of Trustees
The charity provides new trustees with an induction pack and mentoring from the Chair. The charity has limited resources for formal training of the trustee body. However, on-going training opportunities are announced to trustees when these become available pro bono.
2
FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2022
Related party relationships
The Charity has considered the disclosure requirements of the SORP for related party relationships. The charity has no related party connections with other organisations. The trustees consider that the members of the board and their close connections to be the only related parties of the charity. All trustees give their time voluntarily and receive no benefits from the charity. There were no trustee expenses incurred during this financial year.
Trustees are required to disclose all relevant interests and register them with the Chief Executive and to withdraw from decisions where a conflict of interest arises.
Remuneration policy for key management personnel
The pay of the charity’s Chief Executive is reviewed annually and has only been increased once for a number of years due to concerns of long term affordability and at the request of the Chief Executive. The trustees also draw on their knowledge of the sector and common practice in other charities of similar size to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles.
Risk management
The Board of Trustees fully accepts its responsibilities for ensuring that the major risks to which the Charity is exposed are identified, and that there are systems and procedures in place to mitigate those risks.
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
Purposes and aims
The charity’s objectives are to advance in life and help at risk and young vulnerable people by providing education and training which develops their skills, capacities and capabilities to enable them to participate in society and mature to responsible adults.
Principal activities
The charity's main activities and who it tries to help are described below. All its charitable activities focus on investing time in young people enabling them to re-engage with education and employment and are undertaken to further Future Skills Training’s charitable purposes for the public benefit.
All our work is underpinned by the values of caring for our young people, empowering them and giving them hope. Building trusting relationships is central to this approach, alongside modelling positive attitudes and behaviours.
3
FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2022
We deliver 4 main projects:
-
Learn2Live – a life skills project targeting secondary aged young people who have been excluded from mainstream education. We aim to enable the young people to return to full time education.
-
Lean on Me – a one-to-one and small group mentoring project, empowering young people to build selfesteem, raise their aspirations and set and achieve a number of educational, social, and relational focussed goals.
-
Infuse – a weekly youth club and café open to any young person aged 11 – 18. We provide a safe place for young people to have fun and express themselves, build relationships with those that attend and offer additional emotional and practical support where appropriate. In addition, we offer volunteering opportunities for the young people.
-
Summer residential – taking young people we are working with away for a week to further develop their confidence and life skills and allow deeper relationships to be built.
Alongside these main projects, we also work in partnership with Wandsworth Council and our local voluntary sector youth partners to deliver some activities during the school holidays. These activities are targeted at young people that we are already working with as well as other vulnerable young people in Wandsworth Borough including those on free school meals.
Statement of public benefit
The Board of Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.
ACHIEVEMENTS AND PERFORMANCE: REVIEW OF ACTIVITIES FOR THE YEAR
With Covid now behind us our sessions returned to some sort of normality, with no restrictions on what we can deliver. For our Learn2Live project the year began as the previous one had ended, but after Christmas, Francis Barber PRU asked us to accept a change in the way the young people were referred to us. This meant that we have the group from the Westdean site on a Thursday and the Tooting site on a Friday. This obviously meant changing how we plan sessions, but didn’t really change the content.
Throughout the year we had our usual wide variety of activities and tasks to ensure our sessions were as inclusive as possible, meeting the breadth of needs and challenges the young people presented with. We engaged in a mix of team-based games, the drama games were always popular and helped the young people to develop their imagination. Inline skating and rock climbing were new to most of the groups, with everyone being challenged and some really excelling. Cooking was often organised chaos, but some of the food produced was of a genuine high quality, with Phil sometimes commenting that he would pay good money to eat what the young people produced .
This year we tried some science experiments which we haven’t done before and overall the young people engaged well, sometimes being surprised by the results. We were fortunate to be visited twice this year by our friends from Investment Quorum (https://investmentquorum.com/), who taught the young people the basics of money management, bank accounts and savings. Our T-shirt design sessions were a success, giving the young people the opportunity to be creative and providing the space for good conversation.
An activity like cooking often reveals the extremity of ability we have in an average group, some of the young people shine and can make an entire dish almost independently, while others need step-by-step guidance. This continues to be a challenge to ensure that the sessions we deliver provide the opportunity for all beneficiaries to engage and achieve.
4
FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2022
In terms of the young people themselves, we had some fantastic sessions where they showed real progress and also made us laugh and feel very proud of them , but other times, behaviour was very poor and it was difficult for them to participate. One issue we were dealing with more this year that we believe to be a direct result of Covid lockdown has been an increase in lateness. This obviously makes it harder for us to have the impact we want to if they are missing out on part of the sessions.
As always, we built some very solid relationships with some of the beneficiaries, allowing us to have a deeper impact. These relationships are always a privilege to share and often give us a greater insight into what the young people are dealing with on a daily basis and help us to understand more when their attitude can sometimes fluctuate week to week.
Our Lean on Me project had its busiest year to date, supporting 23 children and young people . 18 of those were secondary age, 5 were primary age. Some were supported for a very short time, a couple of weeks to provide respite and give them a chance to reset to ensure a successful return to school, some of the young people we worked with for longer periods, occasionally nearly a whole year, providing a more fulltime experience while a new full time education setting was found. Again, the interventions ranged from 1 session per week to a short-term, full-time placement with us. The beneficiaries who were with us full time received a package of tuition and mentoring support to ensure they kept on top of their core curriculum subjects as well as develop their life skills and have the space to explore the challenges they were having in school. Again we would like to thank both Harrison Allen and Young Giants for their partnership with us, and providing us with excellent tutors.
The content of the mentoring sessions varied hugely, depending on the age and needs of the young people, the group dynamics and the aims of the sessions. Most of the beneficiaries engaged in cooking, the off-site sessions included trips to the South Bank, Tate Modern, Borough Market, The Science Museum and different sports, on-site sessions involved numeracy and literacy games, team challenges, cards and many attempts at self-reflection activities. Some of the very practical support we gave to some of our older young people was help with passport and provisional driving licence applications and applying for apprenticeships.
Here is an example of the impact of Lean on Me: GWL was in year 9 at a local secondary school and was referred for weekly sessions following quite a serious incident at school. He settled quickly and was very engaging, building a good rapport with his mentor, having good open conversations, even in the first session. He engaged in a mix of activities, cooking, basketball, visiting the Tate Modern, and self-reflection tasks, all the while having open and honest conversations about school, gangs, expectations caused by social media etc. He really enjoyed the sessions and also began to build relationships with the wider team. A few days after the last session, Phil received an email from the Headteacher from his school, this is an exert from it - “Just wanted to send you a thank you for the work with GWL. All at school have noticed a significant difference. Please do thank your team for this” . Due to the relationship we had built with him we also invited him to some of our summer holiday days out, which he came to two of and had a great time.
Infuse had a challenging year following all the closures in the previous two years due to Covid, however we were able to open for the whole year and had some really great sessions with the young people talking about so many different issues they were having. Some of the topics of conversation included; why someone got kicked out of school; different friendship issues; problems in school; gang violence and relationships with parents. It remains such a privilege to listen to the young people and try and help them navigate through the challenges they are facing.
5
FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2022
Numbers really fluctuated throughout the year, but even when numbers were low, conversations were deep and young people had the opportunity to feel safe and be themselves . We delivered 31 sessions in the year and actually had 32 different beneficiaries attend throughout the year, which was really encouraging, considering the challenges of the previous two years.
This year we ran some activities during the Easter holidays as part of the Wandsworth HAF (Holiday and Food) project . The four consecutive days were inline skating, rock climbing, cooking and a sports day at Caius House. We had 12 young people in total attend over the four days and all the sessions were a success. Rock climbing particularly stood out as not only did the young people engage really well in a challenging activity as well as get on well with each other, but also one of the boys who also comes to Infuse really opened up to one of the staff, which allowed for some deeper support to be given.
During the summer holidays this year we unfortunately were unable to do a residential, but with the financial support of Battersea Summer Scheme (https://www.batterseasummerscheme.org.uk/) we organised some fun days out for some of our young people.
We took the young people on 4 days out; dry slope toboganning, Up at the O2, Tenpin Bowling at the O2 and Go Ape at Battersea Park. It was really good to take a mix of young people from our different projects and see how they all got on, some starting new friendships. Overall the activities were a great success, particularly the toboganning, something that was totally new to everyone and really good to get out of London for the day.
This year we embedded a whole new team of staff. Saida began just before the year started, Alliah joined us in September, and then we recruited Jerome in October. It was a good challenge working with a new team and we enjoyed the fresh ideas and enthusiasm they brought. Alliah and Jerome were excellent at building relationships with the young people and also complimented Phil’s approach. Having a full time office manager in Saida (the first time we have employed a full time office manager) gave a solid base to all our operations and allowed Phil more freedom to focus on development.
This year as a Board of Trustees we continued to structure our support around the five keys themes from last year:
-
Funding – review the grants strategy and focus on recruiting individual and major donors.
-
Raising/Keeping Awareness – impact reporting, creating a library of content, developing a post schedule.
-
Employment and Entrepreneurship – identify employment partners, establish a process for transitioning young people to programmes, communicate the partnership and benefits.
-
Programme Enhancement – identify skills/capabilities we want to develop in our young people, identify and approach partners who can help us develop this.
Alliances and Collaborations
We have been concentrating some of our efforts developing a campaign to further raise awareness of Future Skills in order to generate both more referrals from schools and also more donations and charitable income. We have been supporting Phil with spending more time on grant funding applications, due to the success we had last year.
6
FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2022
As a board we feel we need to be able to raise staff salaries to make us a competitive option for new staff and also to allow us to retain our good staff. In order to achieve this we have been considering our charges to schools and local authorities as we believe the high quality provision that Future Skills delivers for some of the most vulnerable and challenging young people should be paid for accordingly.
Finally as a board, in addition to the usual oversight of finances and safeguarding, we have been supporting the staff team in managing the relationship with Francis Barber in order to get the best outcomes for the young people who are referred from them to us.
In terms of our grant funding activities this year, we were not successful with any of the proposals we submitted. The competition for grant funding continues to be increasingly fierce and it is something that we are considering getting some additional support with. Despite this disappointment we are incredibly thankful for the £5,000 donation from Investment Quorum, the £1,000 from one of our regular donors Jesse and also for the £500 we received as part of a consultation with our Youth Battersea partners.
Obviously if we had been successful with one or two grants we would have finished the year with a greater level of reserves, however our income overall was high compared to previous years due to the high volume of referrals we received during the year.
Our activities in numbers
This year was a very busy year, with lots of referrals from schools in Wandsworth and from the Local Authority. Our new staff team have adapted very well to the challenge of supporting so many young people.
Learn2Live
We had 29 young people referred to us from Francis Barber this year, which was our highest number since 2012. We delivered 72 sessions in the year. 7 of those young people we only had for 2 sessions for a number of different reasons, so we actually impacted 22 young people. 10 of those we are continuing to support in the new year.
Of those young people who completed their time with us, 75% of them achieved an outcome of either returning to mainstream school, moving on to a full time alternative provider or returning to the PRU full time. This continues to show the hugely positive impact we have on the young people.
Lean on Me
This year we mentored 23 young people, which was a big increase on last year’s figure of 15 beneficiaries. 18 of those were secondary aged, and 5 were primary. Again the interventions were wide ranging, some full time, some part time, some for only a few weeks and some for several months. We actually delivered 367 sessions, which amounts to over 1000 hours of mentoring support.
Out of those 23 beneficiaries, 4 are continuing to be supported in the new year. From the remaining 19 young people, 9 of them successfully remained in education, 3 progressed to alternative education and 2 returned to mainstream education, meaning a total of 74% of mentees achieved a positive outcome.
7
FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2022
Infuse
As stated earlier we were able to open for the whole year which meant we delivered 31 sessions, with 32 different people attending throughout the year. We had an average attendance of 6 young people, with our largest session being 13 attendees.
Holiday Activities
Easter unlocked we delivered 4 days of activities, 12 different young people attended throughout the 4 days, with our biggest day being 8 young people.
The summer days out were a great success, we took 14 different young people on 4 day trips out, with the largest attendance being 8 young people.
Below is the breakdown of our key performance indicators against last year’s results:
8
FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2022
FINANCIAL REVIEW
Financial position
The Charity incurred net expenditure in the year of £14,365 (2021 - net income of £9,263), details of which are shown in the Statement of Financial Activities on page 14.
Total income for the year amounted to £132,247, an increase of £41,783 on the previous year, and total expenditure amounted to £146,612, an increase of £65,411 on the previous year.
Reserves policy
Future Skills Training's policy is to ensure that there are reserve funds available to run the basic operations of the charity for a minimum of three months. At the balance sheet date, the Trustees estimate this would require reserves of £36,000. At the year end, the charity had unrestricted reserves of £1,685, which is below the required level.
Although we have finished the year without the required level of reserves, and with less reserves than last year we recognise the large increase in income due to the paid for services that Future Skills has delivered this year. This considerable amount of unrestricted income alongside the expectation of some grant income in the coming year gives us great confidence of the financial position of Future Skills next year and beyond.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
The trustees are grateful again this year for those faithful donors who have continued to support us. We thank Investment Quorum for both their financial support but also for the workshops they have delivered with our young people.
Our partnership with Francis Barber is consistent and we have had an incredibly busy year with referrals from schools and the local authority and we expect that to continue next year. Our membership of Youth Battersea continues to develop and we are looking forward to that partnership developing new opportunities for charitable grants as well as building even stronger links with some local schools. We also hope to see Future Skills expand out of Wandsworth and attract interest from neighbouring boroughs, further increasing our income streams.
PLANS FOR FUTURE PERIODS
During 2022/23 the charity will continue to advance in life and help at risk and young vulnerable people by providing education and training which develops their skills, capacities and capabilities to enable them to participate in society and mature to responsible adults.
We look forward to continued development and success with the Learn2Live project, and continued expansion of Lean on Me, enabling us to invest time in more young people. We are pleased that Infuse has had a full year of being open, but we look forward to more outreach to attract more young people so that Infuse can again be a thriving after school provision.
9
FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2022
We will continue to support the implementation of our strategy of raising awareness of FST so that the number of referrals continues to increase and so that we are better able to communicate who we are and what we do to generate more grant funding and increase the number of individuals who donate.
This in turn will allow us to increase the staff salaries so we are able to retain our current staff and recruit high calibre new staff.
Due to the current financial situation in the UK with high inflation we are considering our current pricing structure that we charge for our services. This increase, once it is decided will also improve our financial position next year, ultimately enabling us to support more young people, which is always our aim.
TRUSTEES' RESPONSIBILITIES
The charity trustees (who are also the directors of Future Skills Training for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In doing so the trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Make judgments and estimates that are reasonable and prudent;
-
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
Follow the methods and principles of the Charity SORP; and
-
Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the group will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
10
FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2022
PREPARATION OF THE REPORT
In preparing this report, the Board of Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
APPROVAL OF THE REPORT
This report was approved by the Board of Trustees on 21 May 2023 and signed on their behalf by:
…………………………………………………
Sam Akinluyi
Chair
11
FUTURE SKILLS TRAINING
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES
For the year ended 31 August 2022
I report on the accounts of the charity for the year ended 31 August 2022 set out on pages 14 to 23.
Respective responsibilities of the Trustee and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
-
•• follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
-
••
-
state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
-
1.(1) accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
-
2.(2) the accounts do not accord with such records; or
-
3.(2) 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
-
4.(2) the accounts have not been prepared in accordance with the Charities SORP (FRS102).
/Continued…
12
FUTURE SKILLS TRAINING
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES
For the year ended 31 August 2022
…/Continued
I understand that the financial statements have been prepared to give a 'true and fair' view, and have departed from the Charities (Accounts and Reports) Regulations 2008, only to the extent required to provide a 'true and fair view'. This departure has involved following SORP 2015 FRS102, rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 (SORP 2005), which is referred to in the exitent regulations, but has since been withdrawn.
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.
Charles Ssempijja, FCA
NfP Accountants Ltd Chartered Accountant 3rd Floor, 86-90 Paul Street London 23 May 2023 EC2A 4NE Date: ………………………….
13
FUTURE SKILLS TRAINING
STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account & Statement of Total Realised Gains and Losses) For the year ended 31 August 2022
| Unrestricted Funds Notes 2022 £ INCOME FROM Donations and legacies 2 17,974 Charitable activities PRU & Mentoring 114,011 3 - Other 262 TOTAL INCOME 132,247 EXPENDITURE ON: Charitable activities 4 PRU 30,145 Mentoring 77,167 Infuse 13,696 Battersea Lions - Summer projects 6,086 Wandsworth HAF 840 127,934 Raising funds 4 14,278 TOTAL EXPENDITURE 142,212 NET MOVEMENT IN FUNDS (9,965) RECONCILIATION OF FUNDS 11,650 1,685 £ Investments TOTAL FUNDS AT 1 SEPTEMBER 2021 TOTAL FUNDS AT 31 AUGUST 2022 |
Restricted Funds 2022 £ - - - - - 4,400 - - - - - 4,400 - 4,400 (4,400) 4,400 Nil £ |
TotalUnrestricted Funds Funds 2022 2021 £ £ 17,974 24,537 114,011 34,997 - 25 262 48 132,247 59,607 34,545 32,691 77,167 - 13,696 6,131 - - 6,086 4,976 840 - 132,334 43,798 14,278 10,946 146,612 54,744 (14,365) 4,863 16,050 6,787 1,685 £ 11,650 _£ _ |
Restricted Funds 2021 £ 30,857 - - - |
Total Funds 2021 £ 55,394 34,997 25 48 |
|---|---|---|---|---|
| 30,857 | 90,464 | |||
| - 17,492 5,981 - - 2,984 |
32,691 17,492 12,112 - 4,976 2,984 |
|||
| 26,457 - |
70,255 10,946 |
|||
| 26,457 | 81,201 | |||
| 4,400 | 9,263 | |||
| - | 6,787 | |||
| 4,400 _£ _ |
16,050 _£ _ |
The annexed notes form part of these financial statements
14
FUTURE SKILLS TRAINING
(Registered charity number 1119501, registered company number 05745511)
BALANCE SHEET As at 31 August 2022
| Notes CURRENT ASSETS Prepayments and other debtors Cash at bank and in hand CREDITORS: amounts falling due within one year 9 NET CURRENT ASSETS NET ASSETS FUNDS Restricted funds 10 Unrestricted funds: General fund 10 |
2022 £ £ 48 3,082 3,130 (1,445) 1,685 1,685 £ - 1,685 1,685 **£ ** |
£ - 19,560 |
2021 £ 16,050 |
|---|---|---|---|
| 19,560 (3,510) |
|||
| 16,050 _£ _ |
|||
| 4,400 11,650 |
|||
| 16,050 _£ _ |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with the provisions of FRS 102 Section 1A – small entities.
The financial statements were approved, and authorised for issue, by the Trustee on 21 May 2023 and signed on their behalf by:-
SAM AKINLUYI, Chair
The annexed notes form part of these financial statements
15
FUTURE SKILLS TRAINING
STATEMENT OF CASH FLOWS For the year ended 31 August 2022
| £ £ Cash flows from operating activities (14,365) Net cash provided by / (used in) operating activities (Increase)/decrease in debtors (48) Increase/(decrease) in creditors (2,065) (2,113) Cash flows from investing activities - Cash flows from financing activities - Change in cash and cash equivalents in the year (16,478) Cash and cash equivalents at the beginning of the year 19,560 Cash and cash equivalents at the year end 3,082 2022 |
2021 | 2021 |
|---|---|---|
| £ - 2,703 |
£ 9,263 2,703 - - |
|
| 11,966 7,594 |
||
| 19,560 |
16
FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2022
1. ACCOUNTING POLICIES
Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from 01 January 2019), and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following SORP 2015 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 (SORP 2005) which has since been withdrawn.
Public benefit entity
The charity meets the definition of a public benefit entity under FRS 102.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income
Income is recognised when the charity has entitlement to the funds: this is when 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 is only deferred when: The donor specifies that the grant or donation must only be used in future accounting periods; or for performance related grants, where these are received in advance of the performances or specific event to which they relate.
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.
Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
17
FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2022
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 considered all to relate to Charitable activities and includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs.
Allocation of support costs
Support and governance costs have been allocated between charitable activities based on estimated staff costs. The allocation of support and governance costs is analysed in note 4.
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.
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
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.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Judgements and key sources of estimation uncertainty
No significant judgements have been made in the process of applying the above accounting policies and there are no key sources of estimation uncertainty.
18
FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2022
| 2. DONATIONS AND LEGACIES Unrestricted Funds 2022 £ Grant income - Wandsworth Borough Council 4,134 - Battersea Crime Prevention Panel 231 - Caius House 1,150 - HMRC: Job Retention Scheme - 5,515 Donations, including gift aid 12,459 17,974 £ 3. INVESTMENT INCOME Interest receivable from: Cash at bank 4. ANALYSIS OF EXPENDITURE Current year Direct costs Staff / consultant costs £ £ Charitable activities 4,924 19,642 Mentoring 46,015 20,657 Infuse 716 8,607 - - Summer project 894 3,443 Wandsworth HAF 840 - 53,389 52,349 Fundraising costs - 9,468 Support & governance costs 7,306 24,100 60,695 £ 85,917 £ Battersea Lions PRU |
2. DONATIONS AND LEGACIES Unrestricted Funds 2022 £ Grant income - Wandsworth Borough Council 4,134 - Battersea Crime Prevention Panel 231 - Caius House 1,150 - HMRC: Job Retention Scheme - 5,515 Donations, including gift aid 12,459 17,974 £ 3. INVESTMENT INCOME Interest receivable from: Cash at bank 4. ANALYSIS OF EXPENDITURE Current year Direct costs Staff / consultant costs £ £ Charitable activities 4,924 19,642 Mentoring 46,015 20,657 Infuse 716 8,607 - - Summer project 894 3,443 Wandsworth HAF 840 - 53,389 52,349 Fundraising costs - 9,468 Support & governance costs 7,306 24,100 60,695 £ 85,917 £ Battersea Lions PRU |
2. DONATIONS AND LEGACIES Unrestricted Funds 2022 £ Grant income - Wandsworth Borough Council 4,134 - Battersea Crime Prevention Panel 231 - Caius House 1,150 - HMRC: Job Retention Scheme - 5,515 Donations, including gift aid 12,459 17,974 £ 3. INVESTMENT INCOME Interest receivable from: Cash at bank 4. ANALYSIS OF EXPENDITURE Current year Direct costs Staff / consultant costs £ £ Charitable activities 4,924 19,642 Mentoring 46,015 20,657 Infuse 716 8,607 - - Summer project 894 3,443 Wandsworth HAF 840 - 53,389 52,349 Fundraising costs - 9,468 Support & governance costs 7,306 24,100 60,695 £ 85,917 £ Battersea Lions PRU |
Restricted Funds 2022 £ - - - - |
Total Funds 2022 £ 4,134 231 1,150 - |
Total Funds 2021 £ - - - 4,704 |
|---|---|---|---|---|---|
| 5,515 12,459 |
- - |
5,515 12,459 |
30,857 24,537 |
||
| 17,974 **£ ** |
Nil £ |
17,974 **£ ** |
55,394 _£ _ |
||
| Staff / consultant costs £ 19,642 20,657 8,607 - 3,443 - |
Support & governance costs £ 9,979 10,495 4,373 - 1,749 - |
2022 £ Nil £ |
2021 £ 25 _£ _ |
||
| Total 2022 £ 34,545 77,167 13,696 - 6,086 840 |
Total 2021 £ 32,691 17,492 12,112 - 4,976 2,984 |
||||
| 53,389 - 7,306 |
52,349 9,468 24,100 |
26,596 4,810 (31,406) |
132,334 14,278 - |
70,255 10,946 - |
|
| 60,695 **£ ** |
85,917 **£ ** |
Nil £ |
146,612 **£ ** |
81,201 _£ _ |
19
FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2022
| Prior year Charitable activities Summery projects Wandsworth HAF Fundraising costs Support & governance costs Battersea Lions PRU Mentoring Infuse |
Direct costs £ 4,826 1,571 169 - - 2,984 |
Staff / consultant costs £ 17,700 10,113 7,586 - 3,161 - |
Support & governance costs £ 10,165 5,808 4,357 - 1,815 - |
Total 2021 £ 32,691 17,492 12,112 - 4,976 2,984 |
|---|---|---|---|---|
| 9,550 - 8,438 |
38,560 6,953 17,700 |
22,145 3,993 (26,138) |
70,255 10,946 - |
|
| 17,988 _£ _ |
63,213 _£ _ |
Nil £ |
81,201 _£ _ |
Of the total expenditure of £146,612 (2021 - £81,201), £127,934 (2021 - £43,798) was unrestricted expenditure, and £4,400 (2021 - £26,457) was restricted expenditure.
5. STAFF COSTS AND NUMBERS
| STAFF COSTS AND NUMBERS | STAFF COSTS AND NUMBERS | |||
|---|---|---|---|---|
| Unrestricted Funds 2022 £ Salary costs Wages and salaries 60,029 Social security costs 1,645 Employer pension 1,620 63,294 Other staffing costs Consultancy - 63,294 **£ ** |
Restricted Funds 2022 £ 22,624 - - |
Total Funds 2022 £ 82,653 1,645 1,620 |
Total Funds 2021 £ 61,762 250 1,201 |
|
| 63,294 - |
22,624 - |
85,918 - |
63,213 - |
|
| 63,294 **£ ** |
22,624 **£ ** |
85,918 **£ ** |
63,213 _£ _ |
The average weekly number of staff on a head count basis was 4 (2021 - 4).
No staff received payments in excess of £60,000 (2021 - the same).
The total employee benefits of the key management personnel were £32,265 (2021 - £30,636).
6. TRUSTEES' REMUNERATION AND EXPENSES
No Trustee received any remuneration or payments for services rendered to the charity.
No trustees received any reimbursement of expenses, travel and subsistence or otherwise (2021 - the same).
20
FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2022
7. RELATED PARTY TRANSACTIONS
The trustees have found no other related party transactions to disclose in these accounts.
8. SUPPORT COSTS
| SUPPORT COSTS | ||
|---|---|---|
| Governance costs: Independent Examiner's fee Dues and subscriptions Resources Payments to partner organisations Insurance Expense General office costs Postage and Delivery Computer and Internet Expenses Telephone Travel Staff DBS Check Software Staff training Stationery Staff meetings Staff entertainment Advertising/Promotional Staff support costs Nil £ Nil £ |
2022 £ 700 360 15 - 717 655 13 2,967 910 - 103 159 208 39 21 353 86 24,100 |
2021 £ 600 632 104 1,737 688 348 8 1,710 1,036 44 90 245 217 - - 341 638 17,700 |
| 31,406 **£ ** |
26,138 _£ _ |
Support costs all relate to the charitable activities as described in the Trustees' Report, and are allocated in proportion of staff time.
21
FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2022
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Accruals Deferred grant income Taxation and social security Pension control Net pay control Deferred income Balance at 1 September 2021 Amount released to incoming resources Amount deferred in the year Balance at 31 August 2022 |
2022 £ 700 - 139 606 - |
2021 £ 600 1,150 972 152 636 |
| 1,445 **£ ** |
3,510 _£ _ |
|
| 1,150 (1,150) - |
- - 1,150 |
|
| Nil £ |
1,150 _£ _ |
10. STATEMENT OF FUNDS
| STATEMENT OF FUNDS | |||||
|---|---|---|---|---|---|
| RESTRICTED FUNDS PRU & Mentoring Wandsworth HAF SUMMARY OF FUNDS General Funds Restricted Funds |
Brought Forward £ 4,400 - |
Incoming Resources £ - - |
Resources Expended £ (4,400) - |
Transfers and investment gains/(losses) £ - - |
Carried Forward £ - - |
| 4,400 **£ ** |
Nil £ |
(4,400) £ |
Nil £ |
Nil £ |
|
| 11,650 4,400 |
132,247 - |
(142,212) (4,400) |
- - |
1,685 - |
|
| 16,050 **£ ** |
132,247 £ |
(146,612) £ |
Nil £ |
1,685 **£ ** |
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Net current assets | Unrestricted Funds Designated General Funds Funds £ £ - 1,685 Nil £ 1,685 **£ ** |
Unrestricted Funds Designated General Funds Funds £ £ - 1,685 Nil £ 1,685 **£ ** |
Restricted Funds £ - |
Total Funds £ 1,685 |
|---|---|---|---|---|
| Nil £ |
1,685 **£ ** |
Nil £ |
1,685 **£ ** |
22