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 2023
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 2023
| 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 2023
| Trustees | Sam Akinluyi (Chair) |
|---|---|
| Sophia Barker | |
| George Berry (appointed 21 March 2023) | |
| Elizabeth Broderick | |
| Michael Cary (appointed 31 July 2023) | |
| Maureen Waweru (resigned 30 May 2023) | |
| 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 |
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FUTURE SKILLS TRAINING
TRUSTEES' REPORT
For the year ended 31 August 2023
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 2023. 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.
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FUTURE SKILLS TRAINING
TRUSTEES' REPORT
For the year ended 31 August 2023
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
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 due to a very successful year financially we have been able to increase the salary of the Chief Executive to a more competitive rate. We hope to increase it further next year again if funds allow. 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.
This year was a year of huge change, moving from our home of 16 years St Marks Church, to Caius House in Battersea, less than a mile from St Marks. We moved during the Easter holidays and began delivering all our alternative provision from 17th April 2023. This obviously meant some change to what and how we delivered, however we began this year still delivering the 4 main projects below:
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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.
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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.
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FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2023
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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.
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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.
One of the immediate changes made due to moving to Caius was the ceasing of Infuse. Instead of delivering Infuse the team will work with the youth team of Caius House to develop and deliver the after-school programme on site.
Another decision we made this year was to not deliver any Wandsworth HAF funded projects independently of our Youth Battersea Partners mainly due to the admin burden.
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
The Learn2Live sessions with our PRU young people were the usual mix of success and challenge. We actually had our largest number of young people referred from Francis Barber ever with 38 young people referred . Obviously the move to Caius House during Easter brought both new opportunities and new challenges as we adjusted to delivering this core project in a new building. Caius House allows us to provide a broader on-site experience with the kitchen, sports hall, gym and other facilities however its much bigger size comes with its challenges of managing the movement and behaviour of the young people.
The content of the sessions remained hugely varied including cooking, badminton, budgeting, visiting the newly opened Battersea Power Station, drama activities, rock climbing etc. We delivered a session looking at what skills you need in life, this worked very well with our more mature pupils, as did the discussion on future plans and cv writing. Mafia was very popular, often the pupils asking to play it. Skating was particularly good this year, pushing a number of the young people out of their comfort zones. It’s also been encouraging this year to see some of our pupils develop more independence . It can be a huge issue sometimes when the young people just follow each other in their thinking and behaviour, but some of our year 9 and 10 pupils have increasingly demonstrated a higher level of independence.
Most of the young people engaged well in the PSHE sessions we ran, looking at knife crime and appropriate behaviour. Again, many of them had good discussions with us when we were talking about mental health. There does seem to be a growing willingness to share more about this topic. Being at Caius House allowed us to do some more art-based sessions, including a successful Tie Dye T-shirt session as well as use the gym as an extra opportunity to develop some fitness.
One of the challenges that seems to be growing is attendance and punctuality. We actually had a couple of sessions where we only had one young person attend. Although this is not good from an attendance perspective, those sessions were very successful with the pupils engaging really well in the sessions and hugely benefitting from the space and attention given.
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FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2023
One thing we did this year a couple of times, which we haven’t done for a long time was take the young people out to eat. It was hugely encouraging that they behaved well enough for us to do this and some of them appreciated the experience. It was also interesting to see the social learning that was happening as one or two of them struggled with aspects of the experience.
As staff have been reflecting on the PRU young people one of the points raised has been the desire to work with some of the pupils more regularly. We only see the pupils once per week, and with the Tooting group being split in two we only see them for half term periods at a time. This means that our impact is not as powerful and long lasting as it could be if we see the pupils more. Staff have also been raising concerns over the slow development of some of the pupils that we have known for some time, and are concerned about those pupils destinations. Unfortunately, there is not the budget from the Local Authority for us to work with
Lean on Me again had its busiest year to date, supporting 28 children and young people , 3 of those were primary-aged children and 25 secondary-aged. As with Learn2Live the move to Caius House greatly impacted the number of young people we could support and the activities we could offer. It shows the level of need in Wandsworth (and beyond). The needs and situations of the children referred was as broad as ever, meaning that the staff team needed to bring all of their varied experiences and skills to support and develop the young people. Also the requests for the type of intervention hugely varied ranging from 1 hour per week in school support for a year 6 pupil, to short term full time support for two year 11 boys to enable them to maintain their school place and engage in enough learning to be able to successfully sit their GCSE
Again, we worked in partnership with Harrison Allen and Young Giants tuition services so we could deliver the core subject lessons. We would like to thank all the tutors for their patience and hard work.
The content of the sessions maintained the usual mix of cooking, of-site trips around London, sport (some of which could be delivered on-site when we moved), PSHE sessions, games, critical thinking tasks and much more. Due to the growth in the number of referrals throughout the year, the mentoring support was delivered more in small groups rather than 1 to 1. This brought its own challenges due to the diverse needs sometimes in the groups.
The impact we were able to have on the majority of the young people we supported showed how effective this approach continues to be and how powerful the relationships we have with them can
We were reminded again this year that sometimes there are young people that unfortunately we are not equipped to successfully support. We had one year 7 pupil referred to us whose needs were quite extreme and behaviour became very challenging so we had to make the decision to terminate the placement. This was not an easy decision to make, but one that was correct and we learned from.
Infuse had its most challenging year this year. Attendance was very low and although with the young people who came we had good sessions with real conversation and lots of fun, we needed to put a lot more resources into promoting it but were not able to dedicate the resources needed. When FST moved to Caius House, this meant that we no longer ran Infuse but began to support the after school provision at Caius, working together with the youth team already here.
During the summer the staff joined with the Caius House staff to support the Wandsworth HAF (Holiday and Food) project that Caius were delivering. This was 4 weeks of 4 days per week activities including sport, craft, off-site trips for up to 25 young people. This was successful with good attendance and great
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FUTURE SKILLS TRAINING
TRUSTEES' REPORT
For the year ended 31 August 2023
Away from programme delivery there were a few themes that we the trustees were supporting on. First of all again this year we had some staffing challenges to deal with. We employed Anna and Shem during the year as new youth support workers as Jerome and Alliah both left us. As the year progressed and we increased the number of young people we worked with we realised we needed to expand the team further to cope with the increased demand. In addition Saida went on maternity leave so we employed another Anna as maternity cover. As part of this discussion we have been considering the whole structure of the staff team and are looking into the possibility of recruiting teaching staff of our own.
As a board we want to see a more stable staff team and recognise that one of the issues affecting staff is the salary level. With the increased income due to the growth in referrals we are continually assessing the salaries paid and are planning to increase them across the staff team to make it more attractive for staff to stay with FST for longer. We also want to communicate better the additional benefits that staff receive (additional holiday, professional development opportunities, some paid for lunches) to encourage staff to
In addition, anecdotally it seems that there are fewer potential candidates wanting to do the kind of work that we do at FST. Nationally there are less recognised qualifications being offered by Further and Higher Education establishments that would lead people into this line of work, so again we need to ensure that working for Future Skills is an attractive offer. Part of this is ensuring that staff are well supported and also see the impact of the work they do so are encouraged by working at Future Skills.
We are continuing to consider the long term financial stability of Future Skills. This year ended as a very good year financially due to the large increase in referrals, that was partly impacted by our move to Caius House. We are also considering the situation with Francis Barber PRU as at present they seem unable to increase the amount they pay for our programme with them, so we are looking into the possibility of reducing the amount of time the young people attend, so that we can increase referrals from other stakeholders.
As part of this longer term financial strategy, we are changing our pricing structure to a daily rate which is more attractive to schools and LA’s. In addition we are working with https://www.missiongrowth.co.uk/ to help us develop a Theory of Change document that will allow us to better communicate with potential new stakeholders and also assist us with some fundraising to raise an additional £30,000. If we can raise this income this will also assist us with the aim of paying more competitive salaries in order for us to better recruit
As a board we are helping Phil to explore what a full time offer looks like. Having done some initial research this will mean registering Future Skills as a school, but beyond that we are exploring what it looks like in practice without us just becoming another PRU. This is going to take some careful thought, but we look forward to modelling the different options.
Now that FST has moved and settled at Caius House, it is important to note the basis of the relationship between the two organisations. We plan to work together on an expansion of the Alternative Provision offer that Future Skills was previously delivering independently. This will not mean that either organisation will have significant influence over the other, we will maintain our individual autonomy whilst working closely together to deliver the best Alternative Provision we can. To this end we will devise a Service Level Agreement that sets out the roles and responsibilities of the staff involved and makes clear the parameters
It’s been an exciting year on the board of trustees with two new appointments this year , George Berry and Michael Cary. They both bring a wealth of different business experience that will be invaluable in this new phase of FST’s journey. We are sad to say goodbye to Maureen this year but wish her well.
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FUTURE SKILLS TRAINING
TRUSTEES' REPORT
For the year ended 31 August 2023
This year was a little more successful with grants compared to last year. We would like to thank the Garfield Weston Foundation for the £5000 grant awarded to us to help support our work. In addition as part of a joint Youth Battersea Minds proposal to the NHS Inequalities Fund we received an £8500 grant and an £8000 grant during the year towards our therapeutic sessions and our sessions with a mental health focus, which a lot of our sessions have.
We again would like to thank our regular donors, who faithfully give on a monthly basis. As all charities say, these monthly donations make a huge difference to the sustainability of our work. We are thankful to Investment Quorum who have donated £4200 during the year.
Our activities in numbers
This year was our busiest year to date which was made possible by our move to Caius House as previously mentioned. All the team involved worked very hard to support all the children and manage the transition to a new site.
Learn2Live
This year was our busiest year ever with 38 young people referred from Francis Barber. We delivered 72 sessions with an average attendance of 5 young people per session. Out of the 38 pupils, we impacted 26 of them as 12 of them their attendance was less than 4 sessions.
Out of the 26 pupils, 54% of them stayed on at Francis Barber to move into year 11, 8% returned to mainstream education, 35% of them we are continuing to support next year and 3% there was no outcome.
Lean on Me
This year we mentored 29 young people, which just like Learn2Live, was our biggest annual number of referrals. 26 of those were secondary aged, and only 3 were primary aged.
Out of those beneficiaries who finished their time with us, 35% returned to mainstream education, 9% progressed to Alternative Education, 4% went on to Further Education, and 26% remained in mainstream education. 13% of the young people’s attendance was below 4 sessions and the remaining 13% there was no positive outcome. This means again this year 74% of those we mentored achieved a positive outcome.
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FUTURE SKILLS TRAINING
TRUSTEES' REPORT For the year ended 31 August 2023
Infuse
This was the last year of running Infuse after 13 years! Unfortunately, it was our most challenging year. We delivered 17 sessions between September and Easter with a total of 6 young people attending.
Holiday Activities
During the summer of 2023 we partnered with Caius House to support the delivery of the Holiday and Food project. Together we delivered 4 days per week of activities over 4 weeks with a total of 35 young people attending over that 4-week period. A huge success and a joy to work together with Caius House on this
Below is the breakdown of our key performance indicators against last year’s results:
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FUTURE SKILLS TRAINING
TRUSTEES' REPORT
For the year ended 31 August 2023
FINANCIAL REVIEW
Financial position
The Charity achieved net income for the year of £43,775 (2022 - net expenditure of £14,365), details of which are shown in the Statement of Financial Activities on page 14.
Total income for the year amounted to £237,392, an increase of £105,145 on the previous year, and total expenditure amounted to £193,617, an increase of £47,005 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 £48,000. At the year end, the charity had unrestricted reserves of £45,460, which is below the required level.
This year we finished with a good level of reserves for the first time in a long time. The huge increase in paid for referrals alongside the grants we received has put us in a much stronger financial position than recent years. We look forward to this situation continuing as we work towards further growth.
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 hugely grateful for our regular donors who have remained faithful over years. The increase in the number of referrals this year shows the need in Wandsworth and beyond for our services and this does not look like reducing in the next few years due to the smaller number of alternative providers in South
Our relationships with schools and the local authority in Wandsworth is very strong and is part of the reason for the growth this year. The move to Caius House and the need for our provision gives the trustees great hope for more growth in 2023/24.
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FUTURE SKILLS TRAINING
TRUSTEES' REPORT
For the year ended 31 August 2023
PLANS FOR FUTURE PERIODS
During 2023/24 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 have 3 main areas of focus in the next year and beyond:
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Financial growth and stability – having now reached a good level of reserves, we aim to maintain that as the norm, and grow Future Skills further so that the charity has long term stability.
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Explore the opportunity to offer full time placements for young people, which will include school registration and possible exam centre status.
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Grow the board of trustees – we look forward over the next year or two to welcoming another two or three new board members, to further strengthen the governance and growth of Future Skills.
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
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:
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Select suitable accounting policies and then apply them consistently;
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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Follow the methods and principles of the Charity SORP; and
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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
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.
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FUTURE SKILLS TRAINING
TRUSTEES' REPORT
For the year ended 31 August 2023
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 13 May 2024 and signed on their behalf by:
…………………………………………………
Sam Akinluyi Chair
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FUTURE SKILLS TRAINING
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES
For the year ended 31 August 2023
I report on the accounts of the charity for the year ended 31 August 2023 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
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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•• follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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•• 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:
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1.(1) accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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2.(2) the accounts do not accord with such records; or
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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
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4.(2) the accounts have not been prepared in accordance with the Charities SORP (FRS102).
/Continued…
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FUTURE SKILLS TRAINING
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES
For the year ended 31 August 2023
…/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
EC2A 4NE Date: ………………………….
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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 2023
| Unrestricted Funds Notes 2023 £ INCOME FROM Donations and legacies 2 49,880 Charitable activities PRU & Mentoring 187,183 3 - Other 329 TOTAL INCOME 237,392 EXPENDITURE ON: Charitable activities 4 PRU 54,212 Mentoring 109,760 Infuse 12,797 Battersea Lions - Summer projects 5,971 Wandsworth HAF - 182,740 Raising funds 4 10,877 TOTAL EXPENDITURE 193,617 NET MOVEMENT IN FUNDS 43,775 RECONCILIATION OF FUNDS 1,685 45,460 £ Investments TOTAL FUNDS AT 1 SEPTEMBER 2022 TOTAL FUNDS AT 31 AUGUST 2023 |
Restricted Funds 2023 £ - - - - - - - - - - - - - - - - Nil £ |
TotalUnrestricted Funds Funds 2023 2022 £ £ 49,880 17,974 187,183 114,011 - - 329 262 237,392 132,247 54,212 30,145 109,760 77,167 12,797 13,696 - - 5,971 6,086 - 840 182,740 127,934 10,877 14,278 193,617 142,212 43,775 (9,965) 1,685 11,650 45,460 £ 1,685 _£ _ |
Restricted Funds 2022 £ - - - - |
Total Funds 2022 £ 17,974 114,011 - 262 |
|---|---|---|---|---|
| - | 132,247 | |||
| 4,400 - - - - - |
34,545 77,167 13,696 - 6,086 840 |
|||
| 4,400 - |
132,334 14,278 |
|||
| 4,400 | 146,612 | |||
| (4,400) | (14,365) | |||
| 4,400 | 16,050 | |||
| Nil £ |
1,685 _£ _ |
The annexed notes form part of these financial statements
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FUTURE SKILLS TRAINING
(Registered charity number 1119501, registered company number 05745511)
BALANCE SHEET As at 31 August 2023
| 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 |
2023 £ £ £ - 48 48,050 3,082 48,050 3,130 (2,590) (1,445) 45,460 45,460 £ - 45,460 45,460 **£ ** |
2022 £ 1,685 |
|---|---|---|
| 1,685 _£ _ |
||
| - 1,685 |
||
| 1,685 _£ _ |
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 13 May 2024 and signed on their behalf by:-
SAM AKINLUYI, Chair
The annexed notes form part of these financial statements
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FUTURE SKILLS TRAINING
STATEMENT OF CASH FLOWS For the year ended 31 August 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cash flows from operating activities | 43,775 | (14,365) | ||
| Net cash provided by / (used in) operating activities | ||||
| (Increase)/decrease in debtors | 48 | (48) | ||
| Increase/(decrease) in creditors | 1,145 | (2,065) | ||
| 1,193 | (2,113) | |||
| Cash flows from investing activities | - | - | ||
| Cash flows from financing activities | - | - | ||
| Change in cash and cash equivalents in the year | 44,968 | (16,478) | ||
| Cash and cash equivalents at the beginning of the year | 3,082 | 19,560 | ||
| Cash and cash equivalents at the year end | 48,050 | 3,082 |
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FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023
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.
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FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023
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.
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FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023
| 2. DONATIONS AND LEGACIES Unrestricted Funds 2023 £ Grant income - Wandsworth Borough Council - - Battersea Crime Prevention Panel - - NHS Inequalities Fund 16,500 - Other funders 6,756 23,256 Donations, including gift aid 26,624 49,880 £ 3. INVESTMENT INCOME Interest receivable from: Cash at bank 4. ANALYSIS OF EXPENDITURE Current year Direct costs Staff / consultant costs £ £ Charitable activities 7,125 33,168 Mentoring 71,435 26,996 Infuse 120 8,930 - - Summer project 538 3,827 Wandsworth HAF - - 79,218 72,921 Fundraising costs - 7,662 Support & governance costs 9,577 24,239 88,795 £ 104,822 £ PRU Battersea Lions |
2. DONATIONS AND LEGACIES Unrestricted Funds 2023 £ Grant income - Wandsworth Borough Council - - Battersea Crime Prevention Panel - - NHS Inequalities Fund 16,500 - Other funders 6,756 23,256 Donations, including gift aid 26,624 49,880 £ 3. INVESTMENT INCOME Interest receivable from: Cash at bank 4. ANALYSIS OF EXPENDITURE Current year Direct costs Staff / consultant costs £ £ Charitable activities 7,125 33,168 Mentoring 71,435 26,996 Infuse 120 8,930 - - Summer project 538 3,827 Wandsworth HAF - - 79,218 72,921 Fundraising costs - 7,662 Support & governance costs 9,577 24,239 88,795 £ 104,822 £ PRU Battersea Lions |
2. DONATIONS AND LEGACIES Unrestricted Funds 2023 £ Grant income - Wandsworth Borough Council - - Battersea Crime Prevention Panel - - NHS Inequalities Fund 16,500 - Other funders 6,756 23,256 Donations, including gift aid 26,624 49,880 £ 3. INVESTMENT INCOME Interest receivable from: Cash at bank 4. ANALYSIS OF EXPENDITURE Current year Direct costs Staff / consultant costs £ £ Charitable activities 7,125 33,168 Mentoring 71,435 26,996 Infuse 120 8,930 - - Summer project 538 3,827 Wandsworth HAF - - 79,218 72,921 Fundraising costs - 7,662 Support & governance costs 9,577 24,239 88,795 £ 104,822 £ PRU Battersea Lions |
Restricted Funds 2023 £ - - - - |
Total Funds 2023 £ - - 16,500 6,756 |
Total Funds 2022 £ 4,134 231 1,150 - |
|---|---|---|---|---|---|
| 23,256 26,624 |
- - |
23,256 26,624 |
5,515 12,459 |
||
| 49,880 **£ ** |
Nil £ |
49,880 **£ ** |
17,974 _£ _ |
||
| Staff / consultant costs £ 33,168 26,996 8,930 - 3,827 - |
Support & governance costs £ 13,919 11,329 3,747 - 1,606 - |
2023 £ Nil £ |
2022 £ Nil £ |
||
| Total 2023 £ 54,212 109,760 12,797 - 5,971 - |
Total 2022 £ 34,545 77,167 13,696 - 6,086 840 |
||||
| 79,218 - 9,577 |
72,921 7,662 24,239 |
30,601 3,215 (33,816) |
182,740 10,877 - |
132,334 14,278 - |
|
| 88,795 **£ ** |
104,822 **£ ** |
Nil £ |
193,617 **£ ** |
146,612 _£ _ |
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FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023
| Prior year Charitable activities Summery projects Wandsworth HAF Fundraising costs Support & governance costs Infuse Battersea Lions PRU Mentoring |
Direct costs £ 4,924 46,015 716 - 894 840 |
Staff / consultant costs £ 19,642 20,657 8,607 - 3,443 - |
Support & governance costs Total 2022 £ £ 9,979 34,545 10,495 77,167 4,373 13,696 - - 1,749 6,086 - 840 26,596 132,334 4,810 14,278 (31,406) - Nil £ 146,612 _£ _ |
|---|---|---|---|
| 53,389 - 7,306 |
52,349 9,468 24,100 |
||
| 60,695 _£ _ |
85,917 _£ _ |
Of the total expenditure of £193,617 (2022 - £146,612), £193,617 (2022 - £142,212) was unrestricted expenditure, and none (2022 - £4,400) was restricted expenditure.
5. STAFF COSTS AND NUMBERS
| STAFF COSTS AND NUMBERS | STAFF COSTS AND NUMBERS | ||
|---|---|---|---|
| Unrestricted Funds 2023 £ Salary costs Wages and salaries 94,270 Social security costs 2,545 Employer pension 1,803 98,618 Other staffing costs Consultancy 6,205 104,823 **£ ** |
Restricted Funds 2023 £ - - - |
Total Total Funds Funds 2023 2022 £ £ 94,270 82,653 2,545 1,645 1,803 1,620 98,618 85,918 6,205 - 104,823 £ 85,918 _£ _ |
|
| 98,618 6,205 |
- - |
||
| 104,823 **£ ** |
Nil £ |
The average weekly number of staff on a head count basis was 4 (2022 - 4).
No staff received payments in excess of £60,000 (2022 - the same).
The total employee benefits of the key management personnel were £33,440 (2022 - £32,265).
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FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023
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 (2022 - the same).
7. RELATED PARTY TRANSACTIONS
The trustees have found no other related party transactions to disclose in these accounts.
8. 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 £ |
2023 2022 £ £ 720 700 510 360 474 15 - - 783 717 975 655 9 13 4,350 2,967 766 910 - - 51 103 81 159 297 208 - 39 7 21 442 353 112 86 24,239 24,100 33,816 £ 31,406 _£ _ |
|---|---|
Support costs all relate to the charitable activities as described in the Trustees' Report, and are allocated in proportion of staff time.
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FUTURE SKILLS TRAINING
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accruals Taxation and social security Pension control |
2023 2022 £ £ 720 700 723 139 933 606 2,590 £ 1,445 _£ _ |
|---|---|
10. STATEMENT OF FUNDS
| RESTRICTED FUNDS PRU & Mentoring Wandsworth HAF SUMMARY OF FUNDS General Funds Restricted Funds |
Brought Forward £ - - |
Incoming Resources £ - - |
Resources Expended £ - - |
Transfers and investment gains/(losses) £ - - |
Carried Forward £ - - |
|---|---|---|---|---|---|
| Nil £ |
Nil £ |
Nil £ |
Nil £ |
Nil £ |
|
| 1,685 - |
237,392 - |
(193,617) - |
- - |
45,460 - |
|
| 1,685 **£ ** |
237,392 **£ ** |
(193,617) £ |
Nil £ |
45,460 **£ ** |
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Net current assets | Unrestricted Funds Designated General Funds Funds £ £ - 45,460 Nil £ 45,460 **£ ** |
Unrestricted Funds Designated General Funds Funds £ £ - 45,460 Nil £ 45,460 **£ ** |
Restricted Total Funds Funds £ £ - 45,460 Nil £ 45,460 **£ ** |
|---|---|---|---|
| Nil £ |
45,460 **£ ** |
22